id	sid	tid	token	lemma	pos
fbem-14873	1	1	frontiers	frontier	NOUN
fbem-14873	1	2	in	in	ADP
fbem-14873	1	3	business	business	NOUN
fbem-14873	1	4	,	,	PUNCT
fbem-14873	1	5	economics	economic	NOUN
fbem-14873	1	6	and	and	CCONJ
fbem-14873	1	7	management	management	NOUN
fbem-14873	1	8	issn	issn	PROPN
fbem-14873	1	9	:	:	PUNCT
fbem-14873	1	10	2766	2766	NUM
fbem-14873	1	11	-	-	PUNCT
fbem-14873	1	12	824x	824x	NUM
fbem-14873	1	13	|	|	ADJ
fbem-14873	1	14	vol	vol	NOUN
fbem-14873	1	15	.	.	PROPN
fbem-14873	2	1	12	12	NUM
fbem-14873	2	2	,	,	PUNCT
fbem-14873	2	3	no	no	INTJ
fbem-14873	2	4	.	.	NOUN
fbem-14873	2	5	2	2	NUM
fbem-14873	2	6	,	,	PUNCT
fbem-14873	2	7	2023	2023	NUM
fbem-14873	2	8	162	162	NUM
fbem-14873	2	9	research	research	NOUN
fbem-14873	2	10	and	and	CCONJ
fbem-14873	2	11	theoretical	theoretical	ADJ
fbem-14873	2	12	review	review	NOUN
fbem-14873	2	13	of	of	ADP
fbem-14873	2	14	equity	equity	NOUN
fbem-14873	2	15	incentive	incentive	NOUN
fbem-14873	2	16	performance	performance	NOUN
fbem-14873	2	17	of	of	ADP
fbem-14873	2	18	listed	list	VERB
fbem-14873	2	19	companies	company	NOUN
fbem-14873	2	20	zhiya	zhiya	PROPN
fbem-14873	2	21	shu	shu	PROPN
fbem-14873	2	22	school	school	PROPN
fbem-14873	2	23	of	of	ADP
fbem-14873	2	24	finance	finance	NOUN
fbem-14873	2	25	,	,	PUNCT
fbem-14873	2	26	zhongnan	zhongnan	PROPN
fbem-14873	2	27	university	university	PROPN
fbem-14873	2	28	of	of	ADP
fbem-14873	2	29	economics	economic	NOUN
fbem-14873	2	30	and	and	CCONJ
fbem-14873	2	31	law	law	NOUN
fbem-14873	2	32	,	,	PUNCT
fbem-14873	2	33	wuhan	wuhan	PROPN
fbem-14873	2	34	430001	430001	NUM
fbem-14873	2	35	,	,	PUNCT
fbem-14873	2	36	china	china	PROPN
fbem-14873	2	37	abstract	abstract	NOUN
fbem-14873	2	38	:	:	PUNCT
fbem-14873	3	1	equity	equity	NOUN
fbem-14873	3	2	incentive	incentive	NOUN
fbem-14873	3	3	is	be	AUX
fbem-14873	3	4	an	an	DET
fbem-14873	3	5	incentive	incentive	NOUN
fbem-14873	3	6	method	method	NOUN
fbem-14873	3	7	for	for	SCONJ
fbem-14873	3	8	listed	list	VERB
fbem-14873	3	9	companies	company	NOUN
fbem-14873	3	10	to	to	PART
fbem-14873	3	11	promote	promote	VERB
fbem-14873	3	12	the	the	DET
fbem-14873	3	13	alignment	alignment	NOUN
fbem-14873	3	14	of	of	ADP
fbem-14873	3	15	key	key	ADJ
fbem-14873	3	16	management	management	NOUN
fbem-14873	3	17	personnel	personnel	NOUN
fbem-14873	3	18	and	and	CCONJ
fbem-14873	3	19	enterprise	enterprise	NOUN
fbem-14873	3	20	interests	interest	NOUN
fbem-14873	3	21	,	,	PUNCT
fbem-14873	3	22	and	and	CCONJ
fbem-14873	3	23	scientific	scientific	ADJ
fbem-14873	3	24	and	and	CCONJ
fbem-14873	3	25	reasonable	reasonable	ADJ
fbem-14873	3	26	equity	equity	NOUN
fbem-14873	3	27	incentive	incentive	NOUN
fbem-14873	3	28	methods	method	NOUN
fbem-14873	3	29	can	can	AUX
fbem-14873	3	30	promote	promote	VERB
fbem-14873	3	31	managers	manager	NOUN
fbem-14873	3	32	and	and	CCONJ
fbem-14873	3	33	core	core	NOUN
fbem-14873	3	34	employees	employee	NOUN
fbem-14873	3	35	to	to	PART
fbem-14873	3	36	better	well	ADV
fbem-14873	3	37	serve	serve	VERB
fbem-14873	3	38	the	the	DET
fbem-14873	3	39	company	company	NOUN
fbem-14873	3	40	,	,	PUNCT
fbem-14873	3	41	promote	promote	VERB
fbem-14873	3	42	the	the	DET
fbem-14873	3	43	formation	formation	NOUN
fbem-14873	3	44	of	of	ADP
fbem-14873	3	45	a	a	DET
fbem-14873	3	46	community	community	NOUN
fbem-14873	3	47	of	of	ADP
fbem-14873	3	48	interests	interest	NOUN
fbem-14873	3	49	between	between	ADP
fbem-14873	3	50	shareholders	shareholder	NOUN
fbem-14873	3	51	,	,	PUNCT
fbem-14873	3	52	management	management	NOUN
fbem-14873	3	53	and	and	CCONJ
fbem-14873	3	54	employees	employee	NOUN
fbem-14873	3	55	of	of	ADP
fbem-14873	3	56	the	the	DET
fbem-14873	3	57	company	company	NOUN
fbem-14873	3	58	,	,	PUNCT
fbem-14873	3	59	and	and	CCONJ
fbem-14873	3	60	contribute	contribute	VERB
fbem-14873	3	61	more	more	ADJ
fbem-14873	3	62	to	to	ADP
fbem-14873	3	63	the	the	DET
fbem-14873	3	64	development	development	NOUN
fbem-14873	3	65	of	of	ADP
fbem-14873	3	66	the	the	DET
fbem-14873	3	67	company	company	NOUN
fbem-14873	3	68	.	.	PUNCT
fbem-14873	4	1	at	at	ADP
fbem-14873	4	2	the	the	DET
fbem-14873	4	3	same	same	ADJ
fbem-14873	4	4	time	time	NOUN
fbem-14873	4	5	,	,	PUNCT
fbem-14873	4	6	due	due	ADP
fbem-14873	4	7	to	to	ADP
fbem-14873	4	8	the	the	DET
fbem-14873	4	9	serious	serious	ADJ
fbem-14873	4	10	differences	difference	NOUN
fbem-14873	4	11	between	between	ADP
fbem-14873	4	12	shareholders	shareholder	NOUN
fbem-14873	4	13	and	and	CCONJ
fbem-14873	4	14	corporate	corporate	ADJ
fbem-14873	4	15	executives	executive	NOUN
fbem-14873	4	16	in	in	ADP
fbem-14873	4	17	the	the	DET
fbem-14873	4	18	pursuit	pursuit	NOUN
fbem-14873	4	19	of	of	ADP
fbem-14873	4	20	interests	interest	NOUN
fbem-14873	4	21	,	,	PUNCT
fbem-14873	4	22	it	it	PRON
fbem-14873	4	23	is	be	AUX
fbem-14873	4	24	difficult	difficult	ADJ
fbem-14873	4	25	to	to	PART
fbem-14873	4	26	establish	establish	VERB
fbem-14873	4	27	a	a	DET
fbem-14873	4	28	full	full	ADJ
fbem-14873	4	29	relationship	relationship	NOUN
fbem-14873	4	30	of	of	ADP
fbem-14873	4	31	trust	trust	NOUN
fbem-14873	4	32	between	between	ADP
fbem-14873	4	33	shareholders	shareholder	NOUN
fbem-14873	4	34	and	and	CCONJ
fbem-14873	4	35	corporate	corporate	ADJ
fbem-14873	4	36	executives	executive	NOUN
fbem-14873	4	37	,	,	PUNCT
fbem-14873	4	38	which	which	PRON
fbem-14873	4	39	seriously	seriously	ADV
fbem-14873	4	40	affects	affect	VERB
fbem-14873	4	41	the	the	DET
fbem-14873	4	42	enthusiasm	enthusiasm	NOUN
fbem-14873	4	43	of	of	ADP
fbem-14873	4	44	corporate	corporate	ADJ
fbem-14873	4	45	executives	executive	NOUN
fbem-14873	4	46	and	and	CCONJ
fbem-14873	4	47	leads	lead	VERB
fbem-14873	4	48	to	to	ADP
fbem-14873	4	49	low	low	ADJ
fbem-14873	4	50	company	company	NOUN
fbem-14873	4	51	performance	performance	NOUN
fbem-14873	4	52	.	.	PUNCT
fbem-14873	5	1	in	in	ADP
fbem-14873	5	2	order	order	NOUN
fbem-14873	5	3	to	to	PART
fbem-14873	5	4	avoid	avoid	VERB
fbem-14873	5	5	similar	similar	ADJ
fbem-14873	5	6	phenomena	phenomenon	NOUN
fbem-14873	5	7	,	,	PUNCT
fbem-14873	5	8	the	the	DET
fbem-14873	5	9	equity	equity	NOUN
fbem-14873	5	10	incentive	incentive	NOUN
fbem-14873	5	11	mechanism	mechanism	NOUN
fbem-14873	5	12	came	come	VERB
fbem-14873	5	13	into	into	ADP
fbem-14873	5	14	being	being	NOUN
fbem-14873	5	15	,	,	PUNCT
fbem-14873	5	16	becoming	become	VERB
fbem-14873	5	17	an	an	DET
fbem-14873	5	18	indispensable	indispensable	ADJ
fbem-14873	5	19	part	part	NOUN
fbem-14873	5	20	of	of	ADP
fbem-14873	5	21	listed	list	VERB
fbem-14873	5	22	companies	company	NOUN
fbem-14873	5	23	and	and	CCONJ
fbem-14873	5	24	an	an	DET
fbem-14873	5	25	important	important	ADJ
fbem-14873	5	26	prerequisite	prerequisite	NOUN
fbem-14873	5	27	for	for	ADP
fbem-14873	5	28	listed	list	VERB
fbem-14873	5	29	companies	company	NOUN
fbem-14873	5	30	to	to	PART
fbem-14873	5	31	improve	improve	VERB
fbem-14873	5	32	their	their	PRON
fbem-14873	5	33	governance	governance	NOUN
fbem-14873	5	34	structure	structure	NOUN
fbem-14873	5	35	.	.	PUNCT
fbem-14873	6	1	in	in	ADP
fbem-14873	6	2	recent	recent	ADJ
fbem-14873	6	3	years	year	NOUN
fbem-14873	6	4	,	,	PUNCT
fbem-14873	6	5	with	with	ADP
fbem-14873	6	6	the	the	DET
fbem-14873	6	7	development	development	NOUN
fbem-14873	6	8	of	of	ADP
fbem-14873	6	9	the	the	DET
fbem-14873	6	10	market	market	NOUN
fbem-14873	6	11	,	,	PUNCT
fbem-14873	6	12	china	china	PROPN
fbem-14873	6	13	’s	’s	PART
fbem-14873	6	14	listed	list	VERB
fbem-14873	6	15	companies	company	NOUN
fbem-14873	6	16	have	have	AUX
fbem-14873	6	17	gradually	gradually	ADV
fbem-14873	6	18	realized	realize	VERB
fbem-14873	6	19	the	the	DET
fbem-14873	6	20	importance	importance	NOUN
fbem-14873	6	21	of	of	ADP
fbem-14873	6	22	equity	equity	NOUN
fbem-14873	6	23	incentives	incentive	NOUN
fbem-14873	6	24	for	for	ADP
fbem-14873	6	25	the	the	DET
fbem-14873	6	26	development	development	NOUN
fbem-14873	6	27	of	of	ADP
fbem-14873	6	28	enterprises	enterprise	NOUN
fbem-14873	6	29	,	,	PUNCT
fbem-14873	6	30	and	and	CCONJ
fbem-14873	6	31	more	more	ADJ
fbem-14873	6	32	and	and	CCONJ
fbem-14873	6	33	more	more	ADV
fbem-14873	6	34	listed	list	VERB
fbem-14873	6	35	companies	company	NOUN
fbem-14873	6	36	have	have	AUX
fbem-14873	6	37	begun	begin	VERB
fbem-14873	6	38	to	to	PART
fbem-14873	6	39	apply	apply	VERB
fbem-14873	6	40	the	the	DET
fbem-14873	6	41	tool	tool	NOUN
fbem-14873	6	42	of	of	ADP
fbem-14873	6	43	equity	equity	NOUN
fbem-14873	6	44	incentives	incentive	NOUN
fbem-14873	6	45	.	.	PUNCT
fbem-14873	7	1	in	in	ADP
fbem-14873	7	2	this	this	DET
fbem-14873	7	3	field	field	NOUN
fbem-14873	7	4	,	,	PUNCT
fbem-14873	7	5	scholars	scholar	NOUN
fbem-14873	7	6	have	have	AUX
fbem-14873	7	7	also	also	ADV
fbem-14873	7	8	achieved	achieve	VERB
fbem-14873	7	9	fruitful	fruitful	ADJ
fbem-14873	7	10	results	result	NOUN
fbem-14873	7	11	in	in	ADP
fbem-14873	7	12	theoretical	theoretical	ADJ
fbem-14873	7	13	research	research	NOUN
fbem-14873	7	14	and	and	CCONJ
fbem-14873	7	15	performance	performance	NOUN
fbem-14873	7	16	analysis	analysis	NOUN
fbem-14873	7	17	of	of	ADP
fbem-14873	7	18	equity	equity	NOUN
fbem-14873	7	19	incentives	incentive	NOUN
fbem-14873	7	20	.	.	PUNCT
fbem-14873	8	1	this	this	DET
fbem-14873	8	2	paper	paper	NOUN
fbem-14873	8	3	sorts	sort	VERB
fbem-14873	8	4	out	out	ADP
fbem-14873	8	5	the	the	DET
fbem-14873	8	6	literature	literature	NOUN
fbem-14873	8	7	on	on	ADP
fbem-14873	8	8	equity	equity	NOUN
fbem-14873	8	9	incentives	incentive	NOUN
fbem-14873	8	10	of	of	ADP
fbem-14873	8	11	listed	list	VERB
fbem-14873	8	12	companies	company	NOUN
fbem-14873	8	13	by	by	ADP
fbem-14873	8	14	clarifying	clarify	VERB
fbem-14873	8	15	the	the	DET
fbem-14873	8	16	significance	significance	NOUN
fbem-14873	8	17	of	of	ADP
fbem-14873	8	18	equity	equity	NOUN
fbem-14873	8	19	incentives	incentive	NOUN
fbem-14873	8	20	for	for	ADP
fbem-14873	8	21	listed	list	VERB
fbem-14873	8	22	companies	company	NOUN
fbem-14873	8	23	,	,	PUNCT
fbem-14873	8	24	the	the	DET
fbem-14873	8	25	main	main	ADJ
fbem-14873	8	26	models	model	NOUN
fbem-14873	8	27	and	and	CCONJ
fbem-14873	8	28	main	main	ADJ
fbem-14873	8	29	theories	theory	NOUN
fbem-14873	8	30	of	of	ADP
fbem-14873	8	31	equity	equity	NOUN
fbem-14873	8	32	incentives	incentive	NOUN
fbem-14873	8	33	.	.	PUNCT
fbem-14873	9	1	based	base	VERB
fbem-14873	9	2	on	on	ADP
fbem-14873	9	3	the	the	DET
fbem-14873	9	4	existing	exist	VERB
fbem-14873	9	5	literature	literature	NOUN
fbem-14873	9	6	and	and	CCONJ
fbem-14873	9	7	company	company	NOUN
fbem-14873	9	8	data	datum	NOUN
fbem-14873	9	9	,	,	PUNCT
fbem-14873	9	10	this	this	DET
fbem-14873	9	11	paper	paper	NOUN
fbem-14873	9	12	also	also	ADV
fbem-14873	9	13	theoretically	theoretically	ADV
fbem-14873	9	14	explains	explain	VERB
fbem-14873	9	15	the	the	DET
fbem-14873	9	16	current	current	ADJ
fbem-14873	9	17	situation	situation	NOUN
fbem-14873	9	18	of	of	ADP
fbem-14873	9	19	equity	equity	NOUN
fbem-14873	9	20	incentives	incentive	NOUN
fbem-14873	9	21	in	in	ADP
fbem-14873	9	22	china	china	PROPN
fbem-14873	9	23	from	from	ADP
fbem-14873	9	24	multiple	multiple	ADJ
fbem-14873	9	25	perspectives	perspective	NOUN
fbem-14873	9	26	in	in	ADP
fbem-14873	9	27	combination	combination	NOUN
fbem-14873	9	28	with	with	ADP
fbem-14873	9	29	relevant	relevant	ADJ
fbem-14873	9	30	theories	theory	NOUN
fbem-14873	9	31	.	.	PUNCT
fbem-14873	10	1	keywords	keyword	NOUN
fbem-14873	10	2	:	:	PUNCT
fbem-14873	10	3	listed	list	VERB
fbem-14873	10	4	companies	company	NOUN
fbem-14873	10	5	;	;	PUNCT
fbem-14873	10	6	equity	equity	NOUN
fbem-14873	10	7	incentives	incentive	NOUN
fbem-14873	10	8	;	;	PUNCT
fbem-14873	10	9	performance	performance	NOUN
fbem-14873	10	10	;	;	PUNCT
fbem-14873	10	11	theoretical	theoretical	ADJ
fbem-14873	10	12	explanation	explanation	NOUN
fbem-14873	10	13	.	.	PUNCT
fbem-14873	11	1	1	1	X
fbem-14873	11	2	.	.	X
fbem-14873	11	3	background	background	NOUN
fbem-14873	11	4	and	and	CCONJ
fbem-14873	11	5	significance	significance	NOUN
fbem-14873	11	6	of	of	ADP
fbem-14873	11	7	the	the	DET
fbem-14873	11	8	study	study	NOUN
fbem-14873	11	9	1.1	1.1	NUM
fbem-14873	11	10	.	.	PUNCT
fbem-14873	12	1	background	background	NOUN
fbem-14873	12	2	of	of	ADP
fbem-14873	12	3	the	the	DET
fbem-14873	12	4	study	study	NOUN
fbem-14873	12	5	the	the	DET
fbem-14873	12	6	separation	separation	NOUN
fbem-14873	12	7	of	of	ADP
fbem-14873	12	8	ownership	ownership	NOUN
fbem-14873	12	9	and	and	CCONJ
fbem-14873	12	10	operation	operation	NOUN
fbem-14873	12	11	rights	right	NOUN
fbem-14873	12	12	has	have	AUX
fbem-14873	12	13	generated	generate	VERB
fbem-14873	12	14	the	the	DET
fbem-14873	12	15	principal	principal	ADJ
fbem-14873	12	16	-	-	PUNCT
fbem-14873	12	17	agent	agent	NOUN
fbem-14873	12	18	problem	problem	NOUN
fbem-14873	12	19	in	in	ADP
fbem-14873	12	20	modern	modern	ADJ
fbem-14873	12	21	companies	company	NOUN
fbem-14873	12	22	,	,	PUNCT
fbem-14873	12	23	and	and	CCONJ
fbem-14873	12	24	how	how	SCONJ
fbem-14873	12	25	to	to	PART
fbem-14873	12	26	mitigate	mitigate	VERB
fbem-14873	12	27	the	the	DET
fbem-14873	12	28	agency	agency	NOUN
fbem-14873	12	29	conflict	conflict	NOUN
fbem-14873	12	30	is	be	AUX
fbem-14873	12	31	the	the	DET
fbem-14873	12	32	core	core	ADJ
fbem-14873	12	33	issue	issue	NOUN
fbem-14873	12	34	of	of	ADP
fbem-14873	12	35	corporate	corporate	ADJ
fbem-14873	12	36	governance	governance	NOUN
fbem-14873	12	37	research	research	NOUN
fbem-14873	12	38	(	(	PUNCT
fbem-14873	12	39	jensen	jensen	PROPN
fbem-14873	12	40	and	and	CCONJ
fbem-14873	12	41	meckling	meckling	NOUN
fbem-14873	12	42	,	,	PUNCT
fbem-14873	12	43	1976	1976	NUM
fbem-14873	12	44	)	)	PUNCT
fbem-14873	12	45	.	.	PUNCT
fbem-14873	13	1	there	there	PRON
fbem-14873	13	2	is	be	VERB
fbem-14873	13	3	a	a	DET
fbem-14873	13	4	general	general	ADJ
fbem-14873	13	5	consensus	consensus	NOUN
fbem-14873	13	6	among	among	ADP
fbem-14873	13	7	academics	academic	NOUN
fbem-14873	13	8	that	that	PRON
fbem-14873	13	9	,	,	PUNCT
fbem-14873	13	10	in	in	ADP
fbem-14873	13	11	addition	addition	NOUN
fbem-14873	13	12	to	to	ADP
fbem-14873	13	13	the	the	DET
fbem-14873	13	14	establishment	establishment	NOUN
fbem-14873	13	15	of	of	ADP
fbem-14873	13	16	a	a	DET
fbem-14873	13	17	sound	sound	ADJ
fbem-14873	13	18	regulatory	regulatory	ADJ
fbem-14873	13	19	mechanism	mechanism	NOUN
fbem-14873	13	20	,	,	PUNCT
fbem-14873	13	21	the	the	DET
fbem-14873	13	22	design	design	NOUN
fbem-14873	13	23	of	of	ADP
fbem-14873	13	24	an	an	DET
fbem-14873	13	25	effective	effective	ADJ
fbem-14873	13	26	incentive	incentive	NOUN
fbem-14873	13	27	mechanism	mechanism	NOUN
fbem-14873	13	28	is	be	AUX
fbem-14873	13	29	an	an	DET
fbem-14873	13	30	important	important	ADJ
fbem-14873	13	31	means	mean	NOUN
fbem-14873	13	32	of	of	ADP
fbem-14873	13	33	mitigating	mitigate	VERB
fbem-14873	13	34	agency	agency	NOUN
fbem-14873	13	35	conflicts	conflict	NOUN
fbem-14873	13	36	.	.	PUNCT
fbem-14873	14	1	at	at	ADP
fbem-14873	14	2	the	the	DET
fbem-14873	14	3	same	same	ADJ
fbem-14873	14	4	time	time	NOUN
fbem-14873	14	5	,	,	PUNCT
fbem-14873	14	6	the	the	DET
fbem-14873	14	7	implementation	implementation	NOUN
fbem-14873	14	8	of	of	ADP
fbem-14873	14	9	the	the	DET
fbem-14873	14	10	equity	equity	NOUN
fbem-14873	14	11	incentive	incentive	NOUN
fbem-14873	14	12	system	system	NOUN
fbem-14873	14	13	can	can	AUX
fbem-14873	14	14	prompt	prompt	VERB
fbem-14873	14	15	the	the	DET
fbem-14873	14	16	incentivized	incentivize	VERB
fbem-14873	14	17	employees	employee	NOUN
fbem-14873	14	18	to	to	PART
fbem-14873	14	19	pay	pay	VERB
fbem-14873	14	20	more	more	ADJ
fbem-14873	14	21	attention	attention	NOUN
fbem-14873	14	22	to	to	ADP
fbem-14873	14	23	the	the	DET
fbem-14873	14	24	long	long	ADJ
fbem-14873	14	25	-	-	PUNCT
fbem-14873	14	26	term	term	NOUN
fbem-14873	14	27	stable	stable	ADJ
fbem-14873	14	28	development	development	NOUN
fbem-14873	14	29	of	of	ADP
fbem-14873	14	30	the	the	DET
fbem-14873	14	31	company	company	NOUN
fbem-14873	14	32	while	while	SCONJ
fbem-14873	14	33	focusing	focus	VERB
fbem-14873	14	34	on	on	ADP
fbem-14873	14	35	their	their	PRON
fbem-14873	14	36	personal	personal	ADJ
fbem-14873	14	37	interests	interest	NOUN
fbem-14873	14	38	,	,	PUNCT
fbem-14873	14	39	so	so	SCONJ
fbem-14873	14	40	as	as	SCONJ
fbem-14873	14	41	to	to	PART
fbem-14873	14	42	realize	realize	VERB
fbem-14873	14	43	the	the	DET
fbem-14873	14	44	sharing	sharing	NOUN
fbem-14873	14	45	of	of	ADP
fbem-14873	14	46	benefits	benefit	NOUN
fbem-14873	14	47	and	and	CCONJ
fbem-14873	14	48	risks	risk	NOUN
fbem-14873	14	49	between	between	ADP
fbem-14873	14	50	the	the	DET
fbem-14873	14	51	two	two	NUM
fbem-14873	14	52	.	.	PUNCT
fbem-14873	15	1	with	with	ADP
fbem-14873	15	2	the	the	DET
fbem-14873	15	3	rapid	rapid	ADJ
fbem-14873	15	4	development	development	NOUN
fbem-14873	15	5	of	of	ADP
fbem-14873	15	6	the	the	DET
fbem-14873	15	7	economic	economic	ADJ
fbem-14873	15	8	market	market	NOUN
fbem-14873	15	9	,	,	PUNCT
fbem-14873	15	10	the	the	DET
fbem-14873	15	11	number	number	NOUN
fbem-14873	15	12	of	of	ADP
fbem-14873	15	13	listed	list	VERB
fbem-14873	15	14	companies	company	NOUN
fbem-14873	15	15	has	have	AUX
fbem-14873	15	16	jumped	jump	VERB
fbem-14873	15	17	,	,	PUNCT
fbem-14873	15	18	and	and	CCONJ
fbem-14873	15	19	the	the	DET
fbem-14873	15	20	equity	equity	NOUN
fbem-14873	15	21	incentive	incentive	NOUN
fbem-14873	15	22	system	system	NOUN
fbem-14873	15	23	has	have	AUX
fbem-14873	15	24	been	be	AUX
fbem-14873	15	25	applied	apply	VERB
fbem-14873	15	26	by	by	ADP
fbem-14873	15	27	more	more	ADJ
fbem-14873	15	28	and	and	CCONJ
fbem-14873	15	29	more	more	ADV
fbem-14873	15	30	listed	list	VERB
fbem-14873	15	31	companies	company	NOUN
fbem-14873	15	32	,	,	PUNCT
fbem-14873	15	33	so	so	SCONJ
fbem-14873	15	34	the	the	DET
fbem-14873	15	35	research	research	NOUN
fbem-14873	15	36	on	on	ADP
fbem-14873	15	37	the	the	DET
fbem-14873	15	38	equity	equity	NOUN
fbem-14873	15	39	incentive	incentive	NOUN
fbem-14873	15	40	system	system	NOUN
fbem-14873	15	41	has	have	AUX
fbem-14873	15	42	been	be	AUX
fbem-14873	15	43	increasing	increase	VERB
fbem-14873	15	44	.	.	PUNCT
fbem-14873	16	1	2	2	X
fbem-14873	16	2	.	.	X
fbem-14873	16	3	the	the	DET
fbem-14873	16	4	importance	importance	NOUN
fbem-14873	16	5	of	of	ADP
fbem-14873	16	6	equity	equity	NOUN
fbem-14873	16	7	incentives	incentive	NOUN
fbem-14873	16	8	for	for	ADP
fbem-14873	16	9	listed	list	VERB
fbem-14873	16	10	companies	company	NOUN
fbem-14873	16	11	equity	equity	NOUN
fbem-14873	16	12	incentives	incentive	NOUN
fbem-14873	16	13	are	be	AUX
fbem-14873	16	14	of	of	ADP
fbem-14873	16	15	great	great	ADJ
fbem-14873	16	16	significance	significance	NOUN
fbem-14873	16	17	to	to	ADP
fbem-14873	16	18	the	the	DET
fbem-14873	16	19	development	development	NOUN
fbem-14873	16	20	of	of	ADP
fbem-14873	16	21	listed	list	VERB
fbem-14873	16	22	companies	company	NOUN
fbem-14873	16	23	,	,	PUNCT
fbem-14873	16	24	mainly	mainly	ADV
fbem-14873	16	25	in	in	ADP
fbem-14873	16	26	the	the	DET
fbem-14873	16	27	following	follow	VERB
fbem-14873	16	28	aspects	aspect	NOUN
fbem-14873	16	29	.	.	PUNCT
fbem-14873	17	1	2.1	2.1	NUM
fbem-14873	17	2	.	.	PUNCT
fbem-14873	17	3	enabling	enable	VERB
fbem-14873	17	4	long	long	ADJ
fbem-14873	17	5	-	-	PUNCT
fbem-14873	17	6	term	term	NOUN
fbem-14873	17	7	development	development	NOUN
fbem-14873	17	8	planning	planning	NOUN
fbem-14873	17	9	due	due	ADP
fbem-14873	17	10	to	to	ADP
fbem-14873	17	11	the	the	DET
fbem-14873	17	12	separation	separation	NOUN
fbem-14873	17	13	of	of	ADP
fbem-14873	17	14	ownership	ownership	NOUN
fbem-14873	17	15	and	and	CCONJ
fbem-14873	17	16	operation	operation	NOUN
fbem-14873	17	17	of	of	ADP
fbem-14873	17	18	listed	list	VERB
fbem-14873	17	19	companies	company	NOUN
fbem-14873	17	20	,	,	PUNCT
fbem-14873	17	21	the	the	DET
fbem-14873	17	22	long	long	ADJ
fbem-14873	17	23	-	-	PUNCT
fbem-14873	17	24	term	term	NOUN
fbem-14873	17	25	development	development	NOUN
fbem-14873	17	26	of	of	ADP
fbem-14873	17	27	listed	list	VERB
fbem-14873	17	28	companies	company	NOUN
fbem-14873	17	29	and	and	CCONJ
fbem-14873	17	30	the	the	DET
fbem-14873	17	31	short	short	ADJ
fbem-14873	17	32	-	-	PUNCT
fbem-14873	17	33	term	term	NOUN
fbem-14873	17	34	performance	performance	NOUN
fbem-14873	17	35	appraisal	appraisal	NOUN
fbem-14873	17	36	faced	face	VERB
fbem-14873	17	37	by	by	ADP
fbem-14873	17	38	employees	employee	NOUN
fbem-14873	17	39	will	will	AUX
fbem-14873	17	40	inevitably	inevitably	ADV
fbem-14873	17	41	lead	lead	VERB
fbem-14873	17	42	to	to	ADP
fbem-14873	17	43	the	the	DET
fbem-14873	17	44	problem	problem	NOUN
fbem-14873	17	45	of	of	ADP
fbem-14873	17	46	inconsistency	inconsistency	NOUN
fbem-14873	17	47	of	of	ADP
fbem-14873	17	48	interests	interest	NOUN
fbem-14873	17	49	—	—	PUNCT
fbem-14873	17	50	—	—	PUNCT
fbem-14873	17	51	listed	list	VERB
fbem-14873	17	52	companies	company	NOUN
fbem-14873	17	53	are	be	AUX
fbem-14873	17	54	more	more	ADV
fbem-14873	17	55	concerned	concerned	ADJ
fbem-14873	17	56	about	about	ADP
fbem-14873	17	57	the	the	DET
fbem-14873	17	58	long	long	ADJ
fbem-14873	17	59	-	-	PUNCT
fbem-14873	17	60	term	term	NOUN
fbem-14873	17	61	development	development	NOUN
fbem-14873	17	62	goals	goal	NOUN
fbem-14873	17	63	and	and	CCONJ
fbem-14873	17	64	long	long	ADJ
fbem-14873	17	65	-	-	PUNCT
fbem-14873	17	66	term	term	NOUN
fbem-14873	17	67	earnings	earning	NOUN
fbem-14873	17	68	,	,	PUNCT
fbem-14873	17	69	but	but	CCONJ
fbem-14873	17	70	for	for	ADP
fbem-14873	17	71	listed	list	VERB
fbem-14873	17	72	companies	company	NOUN
fbem-14873	17	73	’	’	PART
fbem-14873	17	74	employees	employee	NOUN
fbem-14873	17	75	and	and	CCONJ
fbem-14873	17	76	management	management	NOUN
fbem-14873	17	77	personnel	personnel	NOUN
fbem-14873	17	78	,	,	PUNCT
fbem-14873	17	79	most	most	ADJ
fbem-14873	17	80	of	of	ADP
fbem-14873	17	81	the	the	DET
fbem-14873	17	82	performance	performance	NOUN
fbem-14873	17	83	appraisal	appraisal	NOUN
fbem-14873	17	84	standards	standard	NOUN
fbem-14873	17	85	are	be	AUX
fbem-14873	17	86	based	base	VERB
fbem-14873	17	87	on	on	ADP
fbem-14873	17	88	the	the	DET
fbem-14873	17	89	actual	actual	ADJ
fbem-14873	17	90	earnings	earning	NOUN
fbem-14873	17	91	of	of	ADP
fbem-14873	17	92	the	the	DET
fbem-14873	17	93	current	current	ADJ
fbem-14873	17	94	account	account	NOUN
fbem-14873	17	95	,	,	PUNCT
fbem-14873	17	96	the	the	DET
fbem-14873	17	97	contribution	contribution	NOUN
fbem-14873	17	98	of	of	ADP
fbem-14873	17	99	the	the	DET
fbem-14873	17	100	management	management	NOUN
fbem-14873	17	101	personnel	personnel	NOUN
fbem-14873	17	102	in	in	ADP
fbem-14873	17	103	the	the	DET
fbem-14873	17	104	long	long	ADJ
fbem-14873	17	105	-	-	PUNCT
fbem-14873	17	106	term	term	NOUN
fbem-14873	17	107	development	development	NOUN
fbem-14873	17	108	of	of	ADP
fbem-14873	17	109	the	the	DET
fbem-14873	17	110	company	company	NOUN
fbem-14873	17	111	can	can	AUX
fbem-14873	17	112	not	not	PART
fbem-14873	17	113	be	be	AUX
fbem-14873	17	114	reflected	reflect	VERB
fbem-14873	17	115	in	in	ADP
fbem-14873	17	116	a	a	DET
fbem-14873	17	117	timely	timely	ADJ
fbem-14873	17	118	manner	manner	NOUN
fbem-14873	17	119	,	,	PUNCT
fbem-14873	17	120	so	so	SCONJ
fbem-14873	17	121	it	it	PRON
fbem-14873	17	122	is	be	AUX
fbem-14873	17	123	difficult	difficult	ADJ
fbem-14873	17	124	to	to	PART
fbem-14873	17	125	accurately	accurately	ADV
fbem-14873	17	126	assess	assess	VERB
fbem-14873	17	127	the	the	DET
fbem-14873	17	128	contribution	contribution	NOUN
fbem-14873	17	129	of	of	ADP
fbem-14873	17	130	the	the	DET
fbem-14873	17	131	company	company	NOUN
fbem-14873	17	132	’s	’s	PART
fbem-14873	17	133	long	long	ADJ
fbem-14873	17	134	-	-	PUNCT
fbem-14873	17	135	term	term	NOUN
fbem-14873	17	136	development	development	NOUN
fbem-14873	17	137	.	.	PUNCT
fbem-14873	18	1	therefore	therefore	ADV
fbem-14873	18	2	,	,	PUNCT
fbem-14873	18	3	focusing	focus	VERB
fbem-14873	18	4	on	on	ADP
fbem-14873	18	5	the	the	DET
fbem-14873	18	6	individual	individual	ADJ
fbem-14873	18	7	earnings	earning	NOUN
fbem-14873	18	8	and	and	CCONJ
fbem-14873	18	9	the	the	DET
fbem-14873	18	10	company	company	NOUN
fbem-14873	18	11	’s	’s	PART
fbem-14873	18	12	short	short	ADJ
fbem-14873	18	13	-	-	PUNCT
fbem-14873	18	14	term	term	NOUN
fbem-14873	18	15	earnings	earning	NOUN
fbem-14873	18	16	reflected	reflect	VERB
fbem-14873	18	17	in	in	ADP
fbem-14873	18	18	the	the	DET
fbem-14873	18	19	personal	personal	ADJ
fbem-14873	18	20	value	value	NOUN
fbem-14873	18	21	of	of	ADP
fbem-14873	18	22	the	the	DET
fbem-14873	18	23	company	company	NOUN
fbem-14873	18	24	becomes	become	VERB
fbem-14873	18	25	more	more	ADV
fbem-14873	18	26	prevalent	prevalent	ADJ
fbem-14873	18	27	.	.	PUNCT
fbem-14873	19	1	through	through	ADP
fbem-14873	19	2	the	the	DET
fbem-14873	19	3	equity	equity	NOUN
fbem-14873	19	4	incentive	incentive	NOUN
fbem-14873	19	5	policy	policy	NOUN
fbem-14873	19	6	,	,	PUNCT
fbem-14873	19	7	it	it	PRON
fbem-14873	19	8	can	can	AUX
fbem-14873	19	9	establish	establish	VERB
fbem-14873	19	10	a	a	DET
fbem-14873	19	11	close	close	ADJ
fbem-14873	19	12	connection	connection	NOUN
fbem-14873	19	13	between	between	ADP
fbem-14873	19	14	talents	talent	NOUN
fbem-14873	19	15	and	and	CCONJ
fbem-14873	19	16	the	the	DET
fbem-14873	19	17	company	company	NOUN
fbem-14873	19	18	,	,	PUNCT
fbem-14873	19	19	form	form	VERB
fbem-14873	19	20	a	a	DET
fbem-14873	19	21	consistent	consistent	ADJ
fbem-14873	19	22	strategic	strategic	ADJ
fbem-14873	19	23	orientation	orientation	NOUN
fbem-14873	19	24	,	,	PUNCT
fbem-14873	19	25	enable	enable	VERB
fbem-14873	19	26	the	the	DET
fbem-14873	19	27	managers	manager	NOUN
fbem-14873	19	28	to	to	PART
fbem-14873	19	29	view	view	VERB
fbem-14873	19	30	the	the	DET
fbem-14873	19	31	problem	problem	NOUN
fbem-14873	19	32	from	from	ADP
fbem-14873	19	33	the	the	DET
fbem-14873	19	34	perspective	perspective	NOUN
fbem-14873	19	35	of	of	ADP
fbem-14873	19	36	long	long	ADJ
fbem-14873	19	37	-	-	PUNCT
fbem-14873	19	38	term	term	NOUN
fbem-14873	19	39	development	development	NOUN
fbem-14873	19	40	of	of	ADP
fbem-14873	19	41	the	the	DET
fbem-14873	19	42	listed	list	VERB
fbem-14873	19	43	company	company	NOUN
fbem-14873	19	44	,	,	PUNCT
fbem-14873	19	45	and	and	CCONJ
fbem-14873	19	46	then	then	ADV
fbem-14873	19	47	promote	promote	VERB
fbem-14873	19	48	the	the	DET
fbem-14873	19	49	long	long	ADJ
fbem-14873	19	50	-	-	PUNCT
fbem-14873	19	51	term	term	NOUN
fbem-14873	19	52	profits	profit	NOUN
fbem-14873	19	53	of	of	ADP
fbem-14873	19	54	the	the	DET
fbem-14873	19	55	listed	list	VERB
fbem-14873	19	56	company	company	NOUN
fbem-14873	19	57	to	to	PART
fbem-14873	19	58	steadily	steadily	ADV
fbem-14873	19	59	improve	improve	VERB
fbem-14873	19	60	.	.	PUNCT
fbem-14873	20	1	2.2	2.2	NUM
fbem-14873	20	2	.	.	PUNCT
fbem-14873	21	1	preventing	prevent	VERB
fbem-14873	21	2	brain	brain	NOUN
fbem-14873	21	3	drain	drain	NOUN
fbem-14873	21	4	through	through	ADP
fbem-14873	21	5	the	the	DET
fbem-14873	21	6	use	use	NOUN
fbem-14873	21	7	of	of	ADP
fbem-14873	21	8	equity	equity	NOUN
fbem-14873	21	9	incentive	incentive	NOUN
fbem-14873	21	10	system	system	NOUN
fbem-14873	21	11	,	,	PUNCT
fbem-14873	21	12	incentive	incentive	NOUN
fbem-14873	21	13	recipients	recipient	NOUN
fbem-14873	21	14	can	can	AUX
fbem-14873	21	15	intuitively	intuitively	ADV
fbem-14873	21	16	feel	feel	VERB
fbem-14873	21	17	the	the	DET
fbem-14873	21	18	impact	impact	NOUN
fbem-14873	21	19	of	of	ADP
fbem-14873	21	20	the	the	DET
fbem-14873	21	21	listed	list	VERB
fbem-14873	21	22	company	company	NOUN
fbem-14873	21	23	’s	’s	PART
fbem-14873	21	24	development	development	NOUN
fbem-14873	21	25	on	on	ADP
fbem-14873	21	26	their	their	PRON
fbem-14873	21	27	own	own	ADJ
fbem-14873	21	28	,	,	PUNCT
fbem-14873	21	29	and	and	CCONJ
fbem-14873	21	30	stimulate	stimulate	VERB
fbem-14873	21	31	the	the	DET
fbem-14873	21	32	staff	staff	NOUN
fbem-14873	21	33	’s	’s	PART
fbem-14873	21	34	sense	sense	NOUN
fbem-14873	21	35	of	of	ADP
fbem-14873	21	36	belonging	belonging	NOUN
fbem-14873	21	37	and	and	CCONJ
fbem-14873	21	38	enthusiasm	enthusiasm	NOUN
fbem-14873	21	39	for	for	ADP
fbem-14873	21	40	work	work	NOUN
fbem-14873	21	41	.	.	PUNCT
fbem-14873	22	1	in	in	ADP
fbem-14873	22	2	addition	addition	NOUN
fbem-14873	22	3	to	to	ADP
fbem-14873	22	4	the	the	DET
fbem-14873	22	5	corresponding	correspond	VERB
fbem-14873	22	6	reward	reward	NOUN
fbem-14873	22	7	will	will	AUX
fbem-14873	22	8	be	be	AUX
fbem-14873	22	9	given	give	VERB
fbem-14873	22	10	to	to	ADP
fbem-14873	22	11	the	the	DET
fbem-14873	22	12	incentive	incentive	NOUN
fbem-14873	22	13	targets	target	NOUN
fbem-14873	22	14	,	,	PUNCT
fbem-14873	22	15	the	the	DET
fbem-14873	22	16	equity	equity	NOUN
fbem-14873	22	17	incentive	incentive	NOUN
fbem-14873	22	18	system	system	NOUN
fbem-14873	22	19	will	will	AUX
fbem-14873	22	20	also	also	ADV
fbem-14873	22	21	develop	develop	VERB
fbem-14873	22	22	a	a	DET
fbem-14873	22	23	corresponding	corresponding	ADJ
fbem-14873	22	24	penalty	penalty	NOUN
fbem-14873	22	25	system	system	NOUN
fbem-14873	22	26	to	to	PART
fbem-14873	22	27	restrain	restrain	VERB
fbem-14873	22	28	the	the	DET
fbem-14873	22	29	behavior	behavior	NOUN
fbem-14873	22	30	of	of	ADP
fbem-14873	22	31	the	the	DET
fbem-14873	22	32	equity	equity	NOUN
fbem-14873	22	33	incentive	incentive	NOUN
fbem-14873	22	34	targets	target	NOUN
fbem-14873	22	35	.	.	PUNCT
fbem-14873	23	1	once	once	SCONJ
fbem-14873	23	2	the	the	DET
fbem-14873	23	3	equity	equity	NOUN
fbem-14873	23	4	incentive	incentive	NOUN
fbem-14873	23	5	targets	target	NOUN
fbem-14873	23	6	jeopardize	jeopardize	VERB
fbem-14873	23	7	the	the	DET
fbem-14873	23	8	listed	list	VERB
fbem-14873	23	9	company	company	NOUN
fbem-14873	23	10	or	or	CCONJ
fbem-14873	23	11	leave	leave	VERB
fbem-14873	23	12	the	the	DET
fbem-14873	23	13	listed	list	VERB
fbem-14873	23	14	company	company	NOUN
fbem-14873	23	15	,	,	PUNCT
fbem-14873	23	16	the	the	DET
fbem-14873	23	17	listed	list	VERB
fbem-14873	23	18	company	company	NOUN
fbem-14873	23	19	will	will	AUX
fbem-14873	23	20	recover	recover	VERB
fbem-14873	23	21	the	the	DET
fbem-14873	23	22	equity	equity	NOUN
fbem-14873	23	23	incentive	incentive	NOUN
fbem-14873	23	24	income	income	NOUN
fbem-14873	23	25	,	,	PUNCT
fbem-14873	23	26	which	which	PRON
fbem-14873	23	27	increases	increase	VERB
fbem-14873	23	28	the	the	DET
fbem-14873	23	29	cost	cost	NOUN
fbem-14873	23	30	of	of	ADP
fbem-14873	23	31	making	make	VERB
fbem-14873	23	32	mistakes	mistake	NOUN
fbem-14873	23	33	or	or	CCONJ
fbem-14873	23	34	leaving	leave	VERB
fbem-14873	23	35	the	the	DET
fbem-14873	23	36	listed	list	VERB
fbem-14873	23	37	company	company	NOUN
fbem-14873	23	38	of	of	ADP
fbem-14873	23	39	the	the	DET
fbem-14873	23	40	incentive	incentive	NOUN
fbem-14873	23	41	targets	target	NOUN
fbem-14873	23	42	,	,	PUNCT
fbem-14873	23	43	thus	thus	ADV
fbem-14873	23	44	making	make	VERB
fbem-14873	23	45	the	the	DET
fbem-14873	23	46	incentive	incentive	NOUN
fbem-14873	23	47	targets	target	NOUN
fbem-14873	23	48	to	to	PART
fbem-14873	23	49	think	think	VERB
fbem-14873	23	50	more	more	ADJ
fbem-14873	23	51	about	about	ADP
fbem-14873	23	52	making	make	VERB
fbem-14873	23	53	mistakes	mistake	NOUN
fbem-14873	23	54	and	and	CCONJ
fbem-14873	23	55	leaving	leave	VERB
fbem-14873	23	56	the	the	DET
fbem-14873	23	57	company	company	NOUN
fbem-14873	23	58	[	[	X
fbem-14873	23	59	23	23	NUM
fbem-14873	23	60	]	]	PUNCT
fbem-14873	23	61	.	.	PUNCT
fbem-14873	24	1	and	and	CCONJ
fbem-14873	24	2	good	good	ADJ
fbem-14873	24	3	equity	equity	NOUN
fbem-14873	24	4	163	163	NUM
fbem-14873	24	5	incentives	incentive	NOUN
fbem-14873	24	6	can	can	AUX
fbem-14873	24	7	also	also	ADV
fbem-14873	24	8	attract	attract	VERB
fbem-14873	24	9	more	more	ADJ
fbem-14873	24	10	talents	talent	NOUN
fbem-14873	24	11	to	to	PART
fbem-14873	24	12	join	join	VERB
fbem-14873	24	13	the	the	DET
fbem-14873	24	14	listed	list	VERB
fbem-14873	24	15	company	company	NOUN
fbem-14873	24	16	.	.	PUNCT
fbem-14873	25	1	2.3	2.3	NUM
fbem-14873	25	2	.	.	PUNCT
fbem-14873	26	1	optimizing	optimize	VERB
fbem-14873	26	2	corporate	corporate	ADJ
fbem-14873	26	3	governance	governance	NOUN
fbem-14873	26	4	structures	structure	NOUN
fbem-14873	26	5	in	in	ADP
fbem-14873	26	6	some	some	DET
fbem-14873	26	7	joint	joint	ADJ
fbem-14873	26	8	-	-	PUNCT
fbem-14873	26	9	stock	stock	NOUN
fbem-14873	26	10	limited	limited	ADJ
fbem-14873	26	11	companies	company	NOUN
fbem-14873	26	12	,	,	PUNCT
fbem-14873	26	13	a	a	DET
fbem-14873	26	14	large	large	ADJ
fbem-14873	26	15	number	number	NOUN
fbem-14873	26	16	of	of	ADP
fbem-14873	26	17	controlling	control	VERB
fbem-14873	26	18	shareholders	shareholder	NOUN
fbem-14873	26	19	are	be	AUX
fbem-14873	26	20	likely	likely	ADJ
fbem-14873	26	21	to	to	PART
fbem-14873	26	22	lead	lead	VERB
fbem-14873	26	23	to	to	ADP
fbem-14873	26	24	dispersed	disperse	VERB
fbem-14873	26	25	shareholdings	shareholding	NOUN
fbem-14873	26	26	.	.	PUNCT
fbem-14873	27	1	in	in	ADP
fbem-14873	27	2	the	the	DET
fbem-14873	27	3	case	case	NOUN
fbem-14873	27	4	of	of	ADP
fbem-14873	27	5	complex	complex	ADJ
fbem-14873	27	6	internal	internal	ADJ
fbem-14873	27	7	structure	structure	NOUN
fbem-14873	27	8	of	of	ADP
fbem-14873	27	9	the	the	DET
fbem-14873	27	10	company	company	NOUN
fbem-14873	27	11	,	,	PUNCT
fbem-14873	27	12	some	some	PRON
fbem-14873	27	13	of	of	ADP
fbem-14873	27	14	the	the	DET
fbem-14873	27	15	company	company	NOUN
fbem-14873	27	16	’s	’s	PART
fbem-14873	27	17	employees	employee	NOUN
fbem-14873	27	18	are	be	AUX
fbem-14873	27	19	overly	overly	ADV
fbem-14873	27	20	pursuing	pursue	VERB
fbem-14873	27	21	personal	personal	ADJ
fbem-14873	27	22	interests	interest	NOUN
fbem-14873	27	23	,	,	PUNCT
fbem-14873	27	24	which	which	PRON
fbem-14873	27	25	is	be	AUX
fbem-14873	27	26	likely	likely	ADJ
fbem-14873	27	27	to	to	PART
fbem-14873	27	28	lead	lead	VERB
fbem-14873	27	29	to	to	ADP
fbem-14873	27	30	moral	moral	ADJ
fbem-14873	27	31	hazard	hazard	NOUN
fbem-14873	27	32	,	,	PUNCT
fbem-14873	27	33	and	and	CCONJ
fbem-14873	27	34	even	even	ADV
fbem-14873	27	35	market	market	NOUN
fbem-14873	27	36	blackmail	blackmail	NOUN
fbem-14873	27	37	,	,	PUNCT
fbem-14873	27	38	internal	internal	ADJ
fbem-14873	27	39	manipulation	manipulation	NOUN
fbem-14873	27	40	and	and	CCONJ
fbem-14873	27	41	other	other	ADJ
fbem-14873	27	42	security	security	NOUN
fbem-14873	27	43	risks	risk	NOUN
fbem-14873	27	44	.	.	PUNCT
fbem-14873	28	1	thus	thus	ADV
fbem-14873	28	2	,	,	PUNCT
fbem-14873	28	3	shareholders	shareholder	NOUN
fbem-14873	28	4	are	be	AUX
fbem-14873	28	5	unable	unable	ADJ
fbem-14873	28	6	to	to	PART
fbem-14873	28	7	form	form	VERB
fbem-14873	28	8	an	an	DET
fbem-14873	28	9	effective	effective	ADJ
fbem-14873	28	10	supervision	supervision	NOUN
fbem-14873	28	11	and	and	CCONJ
fbem-14873	28	12	control	control	NOUN
fbem-14873	28	13	of	of	ADP
fbem-14873	28	14	the	the	DET
fbem-14873	28	15	company	company	NOUN
fbem-14873	28	16	’s	’s	PART
fbem-14873	28	17	operation	operation	NOUN
fbem-14873	28	18	and	and	CCONJ
fbem-14873	28	19	management	management	NOUN
fbem-14873	28	20	,	,	PUNCT
fbem-14873	28	21	which	which	PRON
fbem-14873	28	22	will	will	AUX
fbem-14873	28	23	in	in	ADP
fbem-14873	28	24	turn	turn	NOUN
fbem-14873	28	25	cause	cause	VERB
fbem-14873	28	26	damage	damage	NOUN
fbem-14873	28	27	to	to	ADP
fbem-14873	28	28	the	the	DET
fbem-14873	28	29	development	development	NOUN
fbem-14873	28	30	of	of	ADP
fbem-14873	28	31	the	the	DET
fbem-14873	28	32	company	company	NOUN
fbem-14873	28	33	.	.	PUNCT
fbem-14873	29	1	by	by	ADP
fbem-14873	29	2	adopting	adopt	VERB
fbem-14873	29	3	a	a	DET
fbem-14873	29	4	suitable	suitable	ADJ
fbem-14873	29	5	equity	equity	NOUN
fbem-14873	29	6	incentive	incentive	NOUN
fbem-14873	29	7	system	system	NOUN
fbem-14873	29	8	,	,	PUNCT
fbem-14873	29	9	the	the	DET
fbem-14873	29	10	equity	equity	NOUN
fbem-14873	29	11	structure	structure	NOUN
fbem-14873	29	12	of	of	ADP
fbem-14873	29	13	the	the	DET
fbem-14873	29	14	company	company	NOUN
fbem-14873	29	15	can	can	AUX
fbem-14873	29	16	be	be	AUX
fbem-14873	29	17	optimized	optimize	VERB
fbem-14873	29	18	.	.	PUNCT
fbem-14873	30	1	2.4	2.4	NUM
fbem-14873	30	2	.	.	PUNCT
fbem-14873	31	1	playing	play	VERB
fbem-14873	31	2	a	a	DET
fbem-14873	31	3	guiding	guide	VERB
fbem-14873	31	4	role	role	NOUN
fbem-14873	31	5	to	to	PART
fbem-14873	31	6	stimulate	stimulate	VERB
fbem-14873	31	7	the	the	DET
fbem-14873	31	8	development	development	NOUN
fbem-14873	31	9	of	of	ADP
fbem-14873	31	10	listed	list	VERB
fbem-14873	31	11	companies	company	NOUN
fbem-14873	31	12	the	the	DET
fbem-14873	31	13	company	company	NOUN
fbem-14873	31	14	’s	’s	PART
fbem-14873	31	15	operators	operator	NOUN
fbem-14873	31	16	align	align	VERB
fbem-14873	31	17	their	their	PRON
fbem-14873	31	18	personal	personal	ADJ
fbem-14873	31	19	interests	interest	NOUN
fbem-14873	31	20	with	with	ADP
fbem-14873	31	21	the	the	DET
fbem-14873	31	22	company	company	NOUN
fbem-14873	31	23	’s	’s	PART
fbem-14873	31	24	interests	interest	NOUN
fbem-14873	31	25	under	under	ADP
fbem-14873	31	26	the	the	DET
fbem-14873	31	27	equity	equity	NOUN
fbem-14873	31	28	incentive	incentive	NOUN
fbem-14873	31	29	system	system	NOUN
fbem-14873	31	30	,	,	PUNCT
fbem-14873	31	31	and	and	CCONJ
fbem-14873	31	32	they	they	PRON
fbem-14873	31	33	are	be	AUX
fbem-14873	31	34	able	able	ADJ
fbem-14873	31	35	to	to	PART
fbem-14873	31	36	conduct	conduct	VERB
fbem-14873	31	37	the	the	DET
fbem-14873	31	38	development	development	NOUN
fbem-14873	31	39	planning	planning	NOUN
fbem-14873	31	40	of	of	ADP
fbem-14873	31	41	the	the	DET
fbem-14873	31	42	listed	list	VERB
fbem-14873	31	43	company	company	NOUN
fbem-14873	31	44	in	in	ADP
fbem-14873	31	45	the	the	DET
fbem-14873	31	46	interests	interest	NOUN
fbem-14873	31	47	of	of	ADP
fbem-14873	31	48	the	the	DET
fbem-14873	31	49	company	company	NOUN
fbem-14873	31	50	,	,	PUNCT
fbem-14873	31	51	which	which	PRON
fbem-14873	31	52	will	will	AUX
fbem-14873	31	53	greatly	greatly	ADV
fbem-14873	31	54	enhance	enhance	VERB
fbem-14873	31	55	the	the	DET
fbem-14873	31	56	employees	employee	NOUN
fbem-14873	31	57	’	’	PART
fbem-14873	31	58	work	work	NOUN
fbem-14873	31	59	initiative	initiative	NOUN
fbem-14873	31	60	.	.	PUNCT
fbem-14873	32	1	at	at	ADP
fbem-14873	32	2	the	the	DET
fbem-14873	32	3	same	same	ADJ
fbem-14873	32	4	time	time	NOUN
fbem-14873	32	5	,	,	PUNCT
fbem-14873	32	6	when	when	SCONJ
fbem-14873	32	7	the	the	DET
fbem-14873	32	8	interests	interest	NOUN
fbem-14873	32	9	of	of	ADP
fbem-14873	32	10	the	the	DET
fbem-14873	32	11	employees	employee	NOUN
fbem-14873	32	12	are	be	AUX
fbem-14873	32	13	aligned	align	VERB
fbem-14873	32	14	with	with	ADP
fbem-14873	32	15	the	the	DET
fbem-14873	32	16	interests	interest	NOUN
fbem-14873	32	17	of	of	ADP
fbem-14873	32	18	the	the	DET
fbem-14873	32	19	company	company	NOUN
fbem-14873	32	20	,	,	PUNCT
fbem-14873	32	21	it	it	PRON
fbem-14873	32	22	also	also	ADV
fbem-14873	32	23	avoids	avoid	VERB
fbem-14873	32	24	the	the	DET
fbem-14873	32	25	management	management	NOUN
fbem-14873	32	26	costs	cost	NOUN
fbem-14873	32	27	caused	cause	VERB
fbem-14873	32	28	by	by	ADP
fbem-14873	32	29	the	the	DET
fbem-14873	32	30	conflict	conflict	NOUN
fbem-14873	32	31	of	of	ADP
fbem-14873	32	32	personal	personal	ADJ
fbem-14873	32	33	interests	interest	NOUN
fbem-14873	32	34	among	among	ADP
fbem-14873	32	35	the	the	DET
fbem-14873	32	36	employees	employee	NOUN
fbem-14873	32	37	.	.	PUNCT
fbem-14873	33	1	in	in	ADP
fbem-14873	33	2	the	the	DET
fbem-14873	33	3	daily	daily	ADJ
fbem-14873	33	4	operation	operation	NOUN
fbem-14873	33	5	activities	activity	NOUN
fbem-14873	33	6	,	,	PUNCT
fbem-14873	33	7	employees	employee	NOUN
fbem-14873	33	8	can	can	AUX
fbem-14873	33	9	pay	pay	VERB
fbem-14873	33	10	more	more	ADJ
fbem-14873	33	11	attention	attention	NOUN
fbem-14873	33	12	to	to	ADP
fbem-14873	33	13	the	the	DET
fbem-14873	33	14	reform	reform	NOUN
fbem-14873	33	15	of	of	ADP
fbem-14873	33	16	technology	technology	NOUN
fbem-14873	33	17	and	and	CCONJ
fbem-14873	33	18	management	management	NOUN
fbem-14873	33	19	innovation	innovation	NOUN
fbem-14873	33	20	,	,	PUNCT
fbem-14873	33	21	which	which	PRON
fbem-14873	33	22	can	can	AUX
fbem-14873	33	23	improve	improve	VERB
fbem-14873	33	24	the	the	DET
fbem-14873	33	25	efficiency	efficiency	NOUN
fbem-14873	33	26	and	and	CCONJ
fbem-14873	33	27	stimulate	stimulate	VERB
fbem-14873	33	28	the	the	DET
fbem-14873	33	29	vitality	vitality	NOUN
fbem-14873	33	30	of	of	ADP
fbem-14873	33	31	the	the	DET
fbem-14873	33	32	development	development	NOUN
fbem-14873	33	33	of	of	ADP
fbem-14873	33	34	the	the	DET
fbem-14873	33	35	listed	list	VERB
fbem-14873	33	36	company	company	NOUN
fbem-14873	33	37	by	by	ADP
fbem-14873	33	38	reducing	reduce	VERB
fbem-14873	33	39	the	the	DET
fbem-14873	33	40	operation	operation	NOUN
fbem-14873	33	41	cost	cost	NOUN
fbem-14873	33	42	[	[	X
fbem-14873	33	43	24	24	NUM
fbem-14873	33	44	]	]	SYM
fbem-14873	33	45	3	3	NUM
fbem-14873	33	46	.	.	X
fbem-14873	33	47	main	main	ADJ
fbem-14873	33	48	modes	mode	NOUN
fbem-14873	33	49	of	of	ADP
fbem-14873	33	50	equity	equity	NOUN
fbem-14873	33	51	incentive	incentive	NOUN
fbem-14873	33	52	shares	share	NOUN
fbem-14873	33	53	of	of	ADP
fbem-14873	33	54	listed	list	VERB
fbem-14873	33	55	companies	company	NOUN
fbem-14873	33	56	equity	equity	NOUN
fbem-14873	33	57	incentive	incentive	NOUN
fbem-14873	33	58	means	mean	VERB
fbem-14873	33	59	that	that	SCONJ
fbem-14873	33	60	the	the	DET
fbem-14873	33	61	company	company	NOUN
fbem-14873	33	62	takes	take	VERB
fbem-14873	33	63	the	the	DET
fbem-14873	33	64	company	company	NOUN
fbem-14873	33	65	’s	’s	PART
fbem-14873	33	66	stocks	stock	NOUN
fbem-14873	33	67	as	as	ADP
fbem-14873	33	68	the	the	DET
fbem-14873	33	69	subject	subject	NOUN
fbem-14873	33	70	,	,	PUNCT
fbem-14873	33	71	through	through	ADP
fbem-14873	33	72	the	the	DET
fbem-14873	33	73	granting	granting	NOUN
fbem-14873	33	74	of	of	ADP
fbem-14873	33	75	a	a	DET
fbem-14873	33	76	certain	certain	ADJ
fbem-14873	33	77	number	number	NOUN
fbem-14873	33	78	of	of	ADP
fbem-14873	33	79	shares	share	NOUN
fbem-14873	33	80	to	to	ADP
fbem-14873	33	81	the	the	DET
fbem-14873	33	82	incentive	incentive	NOUN
fbem-14873	33	83	targets	target	NOUN
fbem-14873	33	84	(	(	PUNCT
fbem-14873	33	85	directors	director	NOUN
fbem-14873	33	86	,	,	PUNCT
fbem-14873	33	87	supervisors	supervisor	NOUN
fbem-14873	33	88	,	,	PUNCT
fbem-14873	33	89	senior	senior	ADJ
fbem-14873	33	90	management	management	NOUN
fbem-14873	33	91	personnel	personnel	NOUN
fbem-14873	33	92	and	and	CCONJ
fbem-14873	33	93	other	other	ADJ
fbem-14873	33	94	employees	employee	NOUN
fbem-14873	33	95	)	)	PUNCT
fbem-14873	33	96	and	and	CCONJ
fbem-14873	33	97	so	so	ADV
fbem-14873	33	98	on	on	ADV
fbem-14873	33	99	,	,	PUNCT
fbem-14873	33	100	to	to	PART
fbem-14873	33	101	stimulate	stimulate	VERB
fbem-14873	33	102	the	the	DET
fbem-14873	33	103	targets	target	NOUN
fbem-14873	33	104	’	'	PUNCT
fbem-14873	33	105	sense	sense	NOUN
fbem-14873	33	106	of	of	ADP
fbem-14873	33	107	ownership	ownership	NOUN
fbem-14873	33	108	,	,	PUNCT
fbem-14873	33	109	so	so	SCONJ
fbem-14873	33	110	as	as	SCONJ
fbem-14873	33	111	to	to	PART
fbem-14873	33	112	promote	promote	VERB
fbem-14873	33	113	the	the	DET
fbem-14873	33	114	convergence	convergence	NOUN
fbem-14873	33	115	of	of	ADP
fbem-14873	33	116	the	the	DET
fbem-14873	33	117	interests	interest	NOUN
fbem-14873	33	118	of	of	ADP
fbem-14873	33	119	the	the	DET
fbem-14873	33	120	shareholders	shareholder	NOUN
fbem-14873	33	121	and	and	CCONJ
fbem-14873	33	122	the	the	DET
fbem-14873	33	123	incentive	incentive	NOUN
fbem-14873	33	124	targets	target	NOUN
fbem-14873	33	125	,	,	PUNCT
fbem-14873	33	126	and	and	CCONJ
fbem-14873	33	127	ultimately	ultimately	ADV
fbem-14873	33	128	to	to	PART
fbem-14873	33	129	achieve	achieve	VERB
fbem-14873	33	130	the	the	DET
fbem-14873	33	131	enhancement	enhancement	NOUN
fbem-14873	33	132	of	of	ADP
fbem-14873	33	133	the	the	DET
fbem-14873	33	134	value	value	NOUN
fbem-14873	33	135	of	of	ADP
fbem-14873	33	136	the	the	DET
fbem-14873	33	137	shareholders	shareholder	NOUN
fbem-14873	33	138	’	’	PART
fbem-14873	33	139	wealth	wealth	NOUN
fbem-14873	33	140	and	and	CCONJ
fbem-14873	33	141	the	the	DET
fbem-14873	33	142	long	long	ADJ
fbem-14873	33	143	-	-	PUNCT
fbem-14873	33	144	term	term	NOUN
fbem-14873	33	145	development	development	NOUN
fbem-14873	33	146	of	of	ADP
fbem-14873	33	147	the	the	DET
fbem-14873	33	148	company	company	NOUN
fbem-14873	33	149	’s	’s	PART
fbem-14873	33	150	goals	goal	NOUN
fbem-14873	33	151	.	.	PUNCT
fbem-14873	34	1	there	there	PRON
fbem-14873	34	2	are	be	VERB
fbem-14873	34	3	many	many	ADJ
fbem-14873	34	4	kinds	kind	NOUN
fbem-14873	34	5	of	of	ADP
fbem-14873	34	6	modes	mode	NOUN
fbem-14873	34	7	of	of	ADP
fbem-14873	34	8	equity	equity	NOUN
fbem-14873	34	9	incentives	incentive	NOUN
fbem-14873	34	10	,	,	PUNCT
fbem-14873	34	11	which	which	PRON
fbem-14873	34	12	can	can	AUX
fbem-14873	34	13	be	be	AUX
fbem-14873	34	14	divided	divide	VERB
fbem-14873	34	15	according	accord	VERB
fbem-14873	34	16	to	to	ADP
fbem-14873	34	17	the	the	DET
fbem-14873	34	18	nature	nature	NOUN
fbem-14873	34	19	of	of	ADP
fbem-14873	34	20	the	the	DET
fbem-14873	34	21	stocks	stock	NOUN
fbem-14873	34	22	as	as	ADV
fbem-14873	34	23	well	well	ADV
fbem-14873	34	24	as	as	ADP
fbem-14873	34	25	the	the	DET
fbem-14873	34	26	function	function	NOUN
fbem-14873	34	27	of	of	ADP
fbem-14873	34	28	the	the	DET
fbem-14873	34	29	stocks	stock	NOUN
fbem-14873	34	30	.	.	PUNCT
fbem-14873	35	1	when	when	SCONJ
fbem-14873	35	2	choosing	choose	VERB
fbem-14873	35	3	the	the	DET
fbem-14873	35	4	share	share	NOUN
fbem-14873	35	5	incentive	incentive	NOUN
fbem-14873	35	6	mode	mode	NOUN
fbem-14873	35	7	,	,	PUNCT
fbem-14873	35	8	listed	list	VERB
fbem-14873	35	9	companies	company	NOUN
fbem-14873	35	10	need	need	VERB
fbem-14873	35	11	to	to	PART
fbem-14873	35	12	take	take	VERB
fbem-14873	35	13	into	into	ADP
fbem-14873	35	14	account	account	NOUN
fbem-14873	35	15	their	their	PRON
fbem-14873	35	16	own	own	ADJ
fbem-14873	35	17	realities	reality	NOUN
fbem-14873	35	18	and	and	CCONJ
fbem-14873	35	19	make	make	VERB
fbem-14873	35	20	a	a	DET
fbem-14873	35	21	reasonable	reasonable	ADJ
fbem-14873	35	22	choice	choice	NOUN
fbem-14873	35	23	.	.	PUNCT
fbem-14873	36	1	division	division	NOUN
fbem-14873	36	2	is	be	AUX
fbem-14873	36	3	done	do	VERB
fbem-14873	36	4	according	accord	VERB
fbem-14873	36	5	to	to	ADP
fbem-14873	36	6	the	the	DET
fbem-14873	36	7	nature	nature	NOUN
fbem-14873	36	8	of	of	ADP
fbem-14873	36	9	the	the	DET
fbem-14873	36	10	stocks	stock	NOUN
fbem-14873	36	11	.	.	PUNCT
fbem-14873	37	1	the	the	DET
fbem-14873	37	2	division	division	NOUN
fbem-14873	37	3	of	of	ADP
fbem-14873	37	4	equity	equity	NOUN
fbem-14873	37	5	incentive	incentive	NOUN
fbem-14873	37	6	shares	share	NOUN
fbem-14873	37	7	according	accord	VERB
fbem-14873	37	8	to	to	ADP
fbem-14873	37	9	the	the	DET
fbem-14873	37	10	nature	nature	NOUN
fbem-14873	37	11	of	of	ADP
fbem-14873	37	12	the	the	DET
fbem-14873	37	13	stocks	stock	NOUN
fbem-14873	37	14	mainly	mainly	ADV
fbem-14873	37	15	includes	include	VERB
fbem-14873	37	16	three	three	NUM
fbem-14873	37	17	incentive	incentive	NOUN
fbem-14873	37	18	modes	mode	NOUN
fbem-14873	37	19	:	:	PUNCT
fbem-14873	37	20	virtual	virtual	ADJ
fbem-14873	37	21	shares	share	NOUN
fbem-14873	37	22	,	,	PUNCT
fbem-14873	37	23	actual	actual	ADJ
fbem-14873	37	24	shares	share	NOUN
fbem-14873	37	25	,	,	PUNCT
fbem-14873	37	26	and	and	CCONJ
fbem-14873	37	27	shares	share	NOUN
fbem-14873	37	28	combining	combine	VERB
fbem-14873	37	29	virtual	virtual	ADJ
fbem-14873	37	30	and	and	CCONJ
fbem-14873	37	31	real	real	ADJ
fbem-14873	37	32	.	.	PUNCT
fbem-14873	38	1	under	under	ADP
fbem-14873	38	2	the	the	DET
fbem-14873	38	3	virtual	virtual	ADJ
fbem-14873	38	4	share	share	NOUN
fbem-14873	38	5	incentive	incentive	NOUN
fbem-14873	38	6	mode	mode	NOUN
fbem-14873	38	7	,	,	PUNCT
fbem-14873	38	8	the	the	DET
fbem-14873	38	9	incentive	incentive	NOUN
fbem-14873	38	10	recipients	recipient	NOUN
fbem-14873	38	11	have	have	VERB
fbem-14873	38	12	the	the	DET
fbem-14873	38	13	right	right	NOUN
fbem-14873	38	14	to	to	ADP
fbem-14873	38	15	dividends	dividend	NOUN
fbem-14873	38	16	,	,	PUNCT
fbem-14873	38	17	and	and	CCONJ
fbem-14873	38	18	some	some	DET
fbem-14873	38	19	companies	company	NOUN
fbem-14873	38	20	will	will	AUX
fbem-14873	38	21	give	give	VERB
fbem-14873	38	22	the	the	DET
fbem-14873	38	23	incentive	incentive	NOUN
fbem-14873	38	24	recipients	recipient	NOUN
fbem-14873	38	25	the	the	DET
fbem-14873	38	26	right	right	NOUN
fbem-14873	38	27	to	to	PART
fbem-14873	38	28	increase	increase	VERB
fbem-14873	38	29	the	the	DET
fbem-14873	38	30	value	value	NOUN
fbem-14873	38	31	of	of	ADP
fbem-14873	38	32	net	net	ADJ
fbem-14873	38	33	assets	asset	NOUN
fbem-14873	38	34	,	,	PUNCT
fbem-14873	38	35	and	and	CCONJ
fbem-14873	38	36	this	this	DET
fbem-14873	38	37	kind	kind	NOUN
fbem-14873	38	38	of	of	ADP
fbem-14873	38	39	equity	equity	NOUN
fbem-14873	38	40	incentive	incentive	NOUN
fbem-14873	38	41	does	do	AUX
fbem-14873	38	42	not	not	PART
fbem-14873	38	43	change	change	VERB
fbem-14873	38	44	the	the	DET
fbem-14873	38	45	overall	overall	ADJ
fbem-14873	38	46	equity	equity	NOUN
fbem-14873	38	47	structure	structure	NOUN
fbem-14873	38	48	of	of	ADP
fbem-14873	38	49	the	the	DET
fbem-14873	38	50	company	company	NOUN
fbem-14873	38	51	,	,	PUNCT
fbem-14873	38	52	so	so	SCONJ
fbem-14873	38	53	it	it	PRON
fbem-14873	38	54	is	be	AUX
fbem-14873	38	55	also	also	ADV
fbem-14873	38	56	called	call	VERB
fbem-14873	38	57	post	post	NOUN
fbem-14873	38	58	shares	share	NOUN
fbem-14873	38	59	.	.	PUNCT
fbem-14873	39	1	under	under	ADP
fbem-14873	39	2	this	this	DET
fbem-14873	39	3	mode	mode	NOUN
fbem-14873	39	4	,	,	PUNCT
fbem-14873	39	5	the	the	DET
fbem-14873	39	6	incentive	incentive	NOUN
fbem-14873	39	7	recipients	recipient	NOUN
fbem-14873	39	8	have	have	VERB
fbem-14873	39	9	no	no	DET
fbem-14873	39	10	transfer	transfer	NOUN
fbem-14873	39	11	of	of	ADP
fbem-14873	39	12	equity	equity	NOUN
fbem-14873	39	13	inheritance	inheritance	NOUN
fbem-14873	39	14	and	and	CCONJ
fbem-14873	39	15	other	other	ADJ
fbem-14873	39	16	rights	right	NOUN
fbem-14873	39	17	,	,	PUNCT
fbem-14873	39	18	and	and	CCONJ
fbem-14873	39	19	they	they	PRON
fbem-14873	39	20	do	do	AUX
fbem-14873	39	21	n’t	not	PART
fbem-14873	39	22	have	have	VERB
fbem-14873	39	23	ownership	ownership	NOUN
fbem-14873	39	24	and	and	CCONJ
fbem-14873	39	25	voting	voting	NOUN
fbem-14873	39	26	rights	right	NOUN
fbem-14873	39	27	,	,	PUNCT
fbem-14873	39	28	but	but	CCONJ
fbem-14873	39	29	they	they	PRON
fbem-14873	39	30	can	can	AUX
fbem-14873	39	31	get	get	VERB
fbem-14873	39	32	the	the	DET
fbem-14873	39	33	right	right	NOUN
fbem-14873	39	34	to	to	ADP
fbem-14873	39	35	dividends	dividend	NOUN
fbem-14873	39	36	after	after	SCONJ
fbem-14873	39	37	they	they	PRON
fbem-14873	39	38	achieve	achieve	VERB
fbem-14873	39	39	the	the	DET
fbem-14873	39	40	business	business	NOUN
fbem-14873	39	41	performance	performance	NOUN
fbem-14873	39	42	[	[	X
fbem-14873	39	43	3	3	X
fbem-14873	39	44	]	]	X
fbem-14873	39	45	[	[	X
fbem-14873	39	46	25	25	NUM
fbem-14873	39	47	]	]	PUNCT
fbem-14873	39	48	share	share	NOUN
fbem-14873	39	49	incentive	incentive	NOUN
fbem-14873	39	50	model	model	NOUN
fbem-14873	39	51	of	of	ADP
fbem-14873	39	52	equity	equity	NOUN
fbem-14873	39	53	incentives	incentive	NOUN
fbem-14873	39	54	,	,	PUNCT
fbem-14873	39	55	is	be	AUX
fbem-14873	39	56	to	to	PART
fbem-14873	39	57	provide	provide	VERB
fbem-14873	39	58	real	real	ADJ
fbem-14873	39	59	shares	share	NOUN
fbem-14873	39	60	to	to	ADP
fbem-14873	39	61	the	the	DET
fbem-14873	39	62	incentive	incentive	NOUN
fbem-14873	39	63	recipients	recipient	NOUN
fbem-14873	39	64	,	,	PUNCT
fbem-14873	39	65	which	which	PRON
fbem-14873	39	66	means	mean	VERB
fbem-14873	39	67	that	that	SCONJ
fbem-14873	39	68	the	the	DET
fbem-14873	39	69	shareholders	shareholder	NOUN
fbem-14873	39	70	not	not	PART
fbem-14873	39	71	only	only	ADV
fbem-14873	39	72	have	have	VERB
fbem-14873	39	73	the	the	DET
fbem-14873	39	74	right	right	NOUN
fbem-14873	39	75	to	to	ADP
fbem-14873	39	76	dividends	dividend	NOUN
fbem-14873	39	77	,	,	PUNCT
fbem-14873	39	78	but	but	CCONJ
fbem-14873	39	79	also	also	ADV
fbem-14873	39	80	have	have	VERB
fbem-14873	39	81	the	the	DET
fbem-14873	39	82	right	right	NOUN
fbem-14873	39	83	to	to	ADP
fbem-14873	39	84	ownership	ownership	NOUN
fbem-14873	39	85	of	of	ADP
fbem-14873	39	86	the	the	DET
fbem-14873	39	87	stock	stock	NOUN
fbem-14873	39	88	and	and	CCONJ
fbem-14873	39	89	decision	decision	NOUN
fbem-14873	39	90	-	-	PUNCT
fbem-14873	39	91	making	make	VERB
fbem-14873	39	92	power	power	NOUN
fbem-14873	39	93	,	,	PUNCT
fbem-14873	39	94	which	which	PRON
fbem-14873	39	95	will	will	AUX
fbem-14873	39	96	have	have	VERB
fbem-14873	39	97	a	a	DET
fbem-14873	39	98	direct	direct	ADJ
fbem-14873	39	99	impact	impact	NOUN
fbem-14873	39	100	on	on	ADP
fbem-14873	39	101	the	the	DET
fbem-14873	39	102	company	company	NOUN
fbem-14873	39	103	’s	’s	PART
fbem-14873	39	104	shareholding	shareholding	NOUN
fbem-14873	39	105	structure	structure	NOUN
fbem-14873	39	106	.	.	PUNCT
fbem-14873	40	1	therefore	therefore	ADV
fbem-14873	40	2	,	,	PUNCT
fbem-14873	40	3	it	it	PRON
fbem-14873	40	4	will	will	AUX
fbem-14873	40	5	also	also	ADV
fbem-14873	40	6	have	have	VERB
fbem-14873	40	7	an	an	DET
fbem-14873	40	8	impact	impact	NOUN
fbem-14873	40	9	on	on	ADP
fbem-14873	40	10	the	the	DET
fbem-14873	40	11	company	company	NOUN
fbem-14873	40	12	’s	’s	PART
fbem-14873	40	13	governance	governance	NOUN
fbem-14873	40	14	structure	structure	NOUN
fbem-14873	40	15	and	and	CCONJ
fbem-14873	40	16	help	help	VERB
fbem-14873	40	17	optimize	optimize	NOUN
fbem-14873	40	18	of	of	ADP
fbem-14873	40	19	the	the	DET
fbem-14873	40	20	company	company	NOUN
fbem-14873	40	21	’s	’s	PART
fbem-14873	40	22	governance	governance	NOUN
fbem-14873	40	23	structure	structure	NOUN
fbem-14873	40	24	.	.	PUNCT
fbem-14873	41	1	the	the	DET
fbem-14873	41	2	equity	equity	NOUN
fbem-14873	41	3	incentive	incentive	NOUN
fbem-14873	41	4	under	under	ADP
fbem-14873	41	5	the	the	DET
fbem-14873	41	6	combination	combination	NOUN
fbem-14873	41	7	of	of	ADP
fbem-14873	41	8	virtual	virtual	ADJ
fbem-14873	41	9	and	and	CCONJ
fbem-14873	41	10	real	real	ADJ
fbem-14873	41	11	share	share	NOUN
fbem-14873	41	12	incentive	incentive	NOUN
fbem-14873	41	13	model	model	NOUN
fbem-14873	41	14	,	,	PUNCT
fbem-14873	41	15	on	on	ADP
fbem-14873	41	16	the	the	DET
fbem-14873	41	17	other	other	ADJ
fbem-14873	41	18	hand	hand	NOUN
fbem-14873	41	19	,	,	PUNCT
fbem-14873	41	20	first	first	ADV
fbem-14873	41	21	adopts	adopt	VERB
fbem-14873	41	22	the	the	DET
fbem-14873	41	23	virtual	virtual	ADJ
fbem-14873	41	24	stock	stock	NOUN
fbem-14873	41	25	incentive	incentive	NOUN
fbem-14873	41	26	model	model	NOUN
fbem-14873	41	27	,	,	PUNCT
fbem-14873	41	28	and	and	CCONJ
fbem-14873	41	29	then	then	ADV
fbem-14873	41	30	converts	convert	VERB
fbem-14873	41	31	the	the	DET
fbem-14873	41	32	virtual	virtual	ADJ
fbem-14873	41	33	stocks	stock	NOUN
fbem-14873	41	34	into	into	ADP
fbem-14873	41	35	real	real	ADJ
fbem-14873	41	36	stocks	stock	NOUN
fbem-14873	41	37	after	after	ADP
fbem-14873	41	38	expiration	expiration	NOUN
fbem-14873	41	39	.	.	PUNCT
fbem-14873	42	1	division	division	NOUN
fbem-14873	42	2	is	be	AUX
fbem-14873	42	3	done	do	VERB
fbem-14873	42	4	according	accord	VERB
fbem-14873	42	5	to	to	ADP
fbem-14873	42	6	the	the	DET
fbem-14873	42	7	function	function	NOUN
fbem-14873	42	8	of	of	ADP
fbem-14873	42	9	the	the	DET
fbem-14873	42	10	stocks	stock	NOUN
fbem-14873	42	11	.	.	PUNCT
fbem-14873	43	1	incentive	incentive	NOUN
fbem-14873	43	2	shares	share	NOUN
fbem-14873	43	3	can	can	AUX
fbem-14873	43	4	be	be	AUX
fbem-14873	43	5	divided	divide	VERB
fbem-14873	43	6	into	into	ADP
fbem-14873	43	7	stock	stock	NOUN
fbem-14873	43	8	appreciation	appreciation	NOUN
fbem-14873	43	9	rights	right	NOUN
fbem-14873	43	10	,	,	PUNCT
fbem-14873	43	11	virtual	virtual	ADJ
fbem-14873	43	12	shares	share	NOUN
fbem-14873	43	13	,	,	PUNCT
fbem-14873	43	14	restricted	restrict	VERB
fbem-14873	43	15	shares	share	NOUN
fbem-14873	43	16	and	and	CCONJ
fbem-14873	43	17	stock	stock	NOUN
fbem-14873	43	18	options	option	NOUN
fbem-14873	43	19	according	accord	VERB
fbem-14873	43	20	to	to	ADP
fbem-14873	43	21	the	the	DET
fbem-14873	43	22	function	function	NOUN
fbem-14873	43	23	of	of	ADP
fbem-14873	43	24	the	the	DET
fbem-14873	43	25	stocks	stock	NOUN
fbem-14873	43	26	.	.	PUNCT
fbem-14873	44	1	under	under	ADP
fbem-14873	44	2	stock	stock	NOUN
fbem-14873	44	3	appreciation	appreciation	NOUN
fbem-14873	44	4	rights	right	NOUN
fbem-14873	44	5	,	,	PUNCT
fbem-14873	44	6	the	the	DET
fbem-14873	44	7	incentive	incentive	NOUN
fbem-14873	44	8	recipients	recipient	NOUN
fbem-14873	44	9	do	do	AUX
fbem-14873	44	10	n’t	not	PART
fbem-14873	44	11	have	have	VERB
fbem-14873	44	12	the	the	DET
fbem-14873	44	13	right	right	NOUN
fbem-14873	44	14	to	to	ADP
fbem-14873	44	15	dividends	dividend	NOUN
fbem-14873	44	16	,	,	PUNCT
fbem-14873	44	17	decision	decision	NOUN
fbem-14873	44	18	-	-	PUNCT
fbem-14873	44	19	making	make	VERB
fbem-14873	44	20	rights	right	NOUN
fbem-14873	44	21	,	,	PUNCT
fbem-14873	44	22	and	and	CCONJ
fbem-14873	44	23	ownership	ownership	NOUN
fbem-14873	44	24	,	,	PUNCT
fbem-14873	44	25	but	but	CCONJ
fbem-14873	44	26	only	only	ADV
fbem-14873	44	27	a	a	DET
fbem-14873	44	28	share	share	NOUN
fbem-14873	44	29	of	of	ADP
fbem-14873	44	30	the	the	DET
fbem-14873	44	31	proceeds	proceed	NOUN
fbem-14873	44	32	of	of	ADP
fbem-14873	44	33	the	the	DET
fbem-14873	44	34	stock	stock	NOUN
fbem-14873	44	35	,	,	PUNCT
fbem-14873	44	36	which	which	PRON
fbem-14873	44	37	is	be	AUX
fbem-14873	44	38	subject	subject	ADJ
fbem-14873	44	39	to	to	ADP
fbem-14873	44	40	the	the	DET
fbem-14873	44	41	completion	completion	NOUN
fbem-14873	44	42	of	of	ADP
fbem-14873	44	43	specified	specified	ADJ
fbem-14873	44	44	performance	performance	NOUN
fbem-14873	44	45	by	by	ADP
fbem-14873	44	46	the	the	DET
fbem-14873	44	47	incentive	incentive	NOUN
fbem-14873	44	48	recipients	recipient	NOUN
fbem-14873	44	49	.	.	PUNCT
fbem-14873	45	1	in	in	ADP
fbem-14873	45	2	the	the	DET
fbem-14873	45	3	case	case	NOUN
fbem-14873	45	4	of	of	ADP
fbem-14873	45	5	equity	equity	NOUN
fbem-14873	45	6	incentives	incentive	NOUN
fbem-14873	45	7	under	under	ADP
fbem-14873	45	8	restricted	restricted	ADJ
fbem-14873	45	9	shares	share	NOUN
fbem-14873	45	10	,	,	PUNCT
fbem-14873	45	11	the	the	DET
fbem-14873	45	12	incentive	incentive	NOUN
fbem-14873	45	13	recipients	recipient	NOUN
fbem-14873	45	14	can	can	AUX
fbem-14873	45	15	purchase	purchase	VERB
fbem-14873	45	16	the	the	DET
fbem-14873	45	17	company	company	NOUN
fbem-14873	45	18	’s	’s	PART
fbem-14873	45	19	stocks	stock	NOUN
fbem-14873	45	20	at	at	ADP
fbem-14873	45	21	no	no	DET
fbem-14873	45	22	cost	cost	NOUN
fbem-14873	45	23	or	or	CCONJ
fbem-14873	45	24	at	at	ADP
fbem-14873	45	25	a	a	DET
fbem-14873	45	26	price	price	NOUN
fbem-14873	45	27	lower	low	ADJ
fbem-14873	45	28	than	than	ADP
fbem-14873	45	29	the	the	DET
fbem-14873	45	30	market	market	NOUN
fbem-14873	45	31	price	price	NOUN
fbem-14873	45	32	,	,	PUNCT
fbem-14873	45	33	but	but	CCONJ
fbem-14873	45	34	there	there	PRON
fbem-14873	45	35	are	be	VERB
fbem-14873	45	36	certain	certain	ADJ
fbem-14873	45	37	restrictions	restriction	NOUN
fbem-14873	45	38	on	on	ADP
fbem-14873	45	39	the	the	DET
fbem-14873	45	40	quantity	quantity	NOUN
fbem-14873	45	41	,	,	PUNCT
fbem-14873	45	42	sale	sale	NOUN
fbem-14873	45	43	period	period	NOUN
fbem-14873	45	44	,	,	PUNCT
fbem-14873	45	45	unlocking	unlock	VERB
fbem-14873	45	46	conditions	condition	NOUN
fbem-14873	45	47	,	,	PUNCT
fbem-14873	45	48	etc	etc	X
fbem-14873	45	49	.	.	X
fbem-14873	46	1	for	for	ADP
fbem-14873	46	2	example	example	NOUN
fbem-14873	46	3	,	,	PUNCT
fbem-14873	46	4	when	when	SCONJ
fbem-14873	46	5	the	the	DET
fbem-14873	46	6	sale	sale	NOUN
fbem-14873	46	7	period	period	NOUN
fbem-14873	46	8	is	be	AUX
fbem-14873	46	9	two	two	NUM
fbem-14873	46	10	years	year	NOUN
fbem-14873	46	11	,	,	PUNCT
fbem-14873	46	12	the	the	DET
fbem-14873	46	13	incentive	incentive	NOUN
fbem-14873	46	14	recipients	recipient	NOUN
fbem-14873	46	15	can	can	AUX
fbem-14873	46	16	only	only	ADV
fbem-14873	46	17	sell	sell	VERB
fbem-14873	46	18	the	the	DET
fbem-14873	46	19	purchased	purchase	VERB
fbem-14873	46	20	stocks	stock	NOUN
fbem-14873	46	21	two	two	NUM
fbem-14873	46	22	years	year	NOUN
fbem-14873	46	23	after	after	ADP
fbem-14873	46	24	achieving	achieve	VERB
fbem-14873	46	25	the	the	DET
fbem-14873	46	26	incentive	incentive	NOUN
fbem-14873	46	27	goals	goal	NOUN
fbem-14873	46	28	,	,	PUNCT
fbem-14873	46	29	and	and	CCONJ
fbem-14873	46	30	once	once	SCONJ
fbem-14873	46	31	the	the	DET
fbem-14873	46	32	goals	goal	NOUN
fbem-14873	46	33	are	be	AUX
fbem-14873	46	34	not	not	PART
fbem-14873	46	35	achieved	achieve	VERB
fbem-14873	46	36	,	,	PUNCT
fbem-14873	46	37	the	the	DET
fbem-14873	46	38	stocks	stock	NOUN
fbem-14873	46	39	can	can	AUX
fbem-14873	46	40	not	not	PART
fbem-14873	46	41	be	be	AUX
fbem-14873	46	42	sold	sell	VERB
fbem-14873	46	43	,	,	PUNCT
fbem-14873	46	44	and	and	CCONJ
fbem-14873	46	45	the	the	DET
fbem-14873	46	46	incentive	incentive	NOUN
fbem-14873	46	47	recipients	recipient	NOUN
fbem-14873	46	48	themselves	themselves	PRON
fbem-14873	46	49	will	will	AUX
fbem-14873	46	50	suffer	suffer	VERB
fbem-14873	46	51	losses	loss	NOUN
fbem-14873	46	52	.	.	PUNCT
fbem-14873	47	1	stock	stock	NOUN
fbem-14873	47	2	options	option	NOUN
fbem-14873	47	3	under	under	ADP
fbem-14873	47	4	the	the	DET
fbem-14873	47	5	equity	equity	NOUN
fbem-14873	47	6	incentives	incentive	NOUN
fbem-14873	47	7	,	,	PUNCT
fbem-14873	47	8	are	be	AUX
fbem-14873	47	9	to	to	PART
fbem-14873	47	10	use	use	VERB
fbem-14873	47	11	options	option	NOUN
fbem-14873	47	12	tools	tool	NOUN
fbem-14873	47	13	.	.	PUNCT
fbem-14873	48	1	compared	compare	VERB
fbem-14873	48	2	with	with	ADP
fbem-14873	48	3	restricted	restricted	ADJ
fbem-14873	48	4	shares	share	NOUN
fbem-14873	48	5	,	,	PUNCT
fbem-14873	48	6	they	they	PRON
fbem-14873	48	7	are	be	AUX
fbem-14873	48	8	more	more	ADV
fbem-14873	48	9	friendly	friendly	ADJ
fbem-14873	48	10	.	.	PUNCT
fbem-14873	49	1	the	the	DET
fbem-14873	49	2	incentive	incentive	NOUN
fbem-14873	49	3	recipients	recipient	NOUN
fbem-14873	49	4	can	can	AUX
fbem-14873	49	5	be	be	AUX
fbem-14873	49	6	agreed	agree	VERB
fbem-14873	49	7	in	in	ADP
fbem-14873	49	8	the	the	DET
fbem-14873	49	9	form	form	NOUN
fbem-14873	49	10	of	of	ADP
fbem-14873	49	11	pre	pre	VERB
fbem-14873	49	12	-	-	VERB
fbem-14873	49	13	set	set	VERB
fbem-14873	49	14	the	the	DET
fbem-14873	49	15	purchase	purchase	NOUN
fbem-14873	49	16	price	price	NOUN
fbem-14873	49	17	of	of	ADP
fbem-14873	49	18	the	the	DET
fbem-14873	49	19	company	company	NOUN
fbem-14873	49	20	’s	’s	PART
fbem-14873	49	21	stocks	stock	NOUN
fbem-14873	49	22	.	.	PUNCT
fbem-14873	50	1	after	after	ADP
fbem-14873	50	2	the	the	DET
fbem-14873	50	3	completion	completion	NOUN
fbem-14873	50	4	of	of	ADP
fbem-14873	50	5	the	the	DET
fbem-14873	50	6	incentive	incentive	NOUN
fbem-14873	50	7	goals	goal	NOUN
fbem-14873	50	8	,	,	PUNCT
fbem-14873	50	9	they	they	PRON
fbem-14873	50	10	can	can	AUX
fbem-14873	50	11	purchase	purchase	VERB
fbem-14873	50	12	the	the	DET
fbem-14873	50	13	company	company	NOUN
fbem-14873	50	14	’s	’s	PART
fbem-14873	50	15	stocks	stock	NOUN
fbem-14873	50	16	at	at	ADP
fbem-14873	50	17	the	the	DET
fbem-14873	50	18	original	original	ADJ
fbem-14873	50	19	price	price	NOUN
fbem-14873	50	20	.	.	PUNCT
fbem-14873	51	1	if	if	SCONJ
fbem-14873	51	2	the	the	DET
fbem-14873	51	3	company	company	NOUN
fbem-14873	51	4	’s	’s	PART
fbem-14873	51	5	stock	stock	NOUN
fbem-14873	51	6	price	price	NOUN
fbem-14873	51	7	is	be	AUX
fbem-14873	51	8	higher	high	ADJ
fbem-14873	51	9	than	than	ADP
fbem-14873	51	10	the	the	DET
fbem-14873	51	11	agreed	agree	VERB
fbem-14873	51	12	price	price	NOUN
fbem-14873	51	13	,	,	PUNCT
fbem-14873	51	14	the	the	DET
fbem-14873	51	15	incentive	incentive	NOUN
fbem-14873	51	16	recipients	recipient	NOUN
fbem-14873	51	17	can	can	AUX
fbem-14873	51	18	obtain	obtain	VERB
fbem-14873	51	19	the	the	DET
fbem-14873	51	20	price	price	NOUN
fbem-14873	51	21	spread	spread	NOUN
fbem-14873	51	22	of	of	ADP
fbem-14873	51	23	the	the	DET
fbem-14873	51	24	stock	stock	NOUN
fbem-14873	51	25	as	as	ADP
fbem-14873	51	26	a	a	DET
fbem-14873	51	27	gain	gain	NOUN
fbem-14873	51	28	.	.	PUNCT
fbem-14873	52	1	if	if	SCONJ
fbem-14873	52	2	it	it	PRON
fbem-14873	52	3	is	be	AUX
fbem-14873	52	4	lower	low	ADJ
fbem-14873	52	5	than	than	ADP
fbem-14873	52	6	the	the	DET
fbem-14873	52	7	price	price	NOUN
fbem-14873	52	8	of	of	ADP
fbem-14873	52	9	the	the	DET
fbem-14873	52	10	pre	pre	ADJ
fbem-14873	52	11	-	-	VERB
fbem-14873	52	12	determined	determined	ADJ
fbem-14873	52	13	,	,	PUNCT
fbem-14873	52	14	they	they	PRON
fbem-14873	52	15	may	may	AUX
fbem-14873	52	16	give	give	VERB
fbem-14873	52	17	up	up	ADP
fbem-14873	52	18	the	the	DET
fbem-14873	52	19	right	right	NOUN
fbem-14873	52	20	to	to	PART
fbem-14873	52	21	purchase	purchase	VERB
fbem-14873	52	22	.	.	PUNCT
fbem-14873	53	1	4	4	X
fbem-14873	53	2	.	.	X
fbem-14873	53	3	effect	effect	NOUN
fbem-14873	53	4	of	of	ADP
fbem-14873	53	5	the	the	DET
fbem-14873	53	6	implementation	implementation	NOUN
fbem-14873	53	7	of	of	ADP
fbem-14873	53	8	the	the	DET
fbem-14873	53	9	equity	equity	NOUN
fbem-14873	53	10	incentive	incentive	PROPN
fbem-14873	53	11	scheme	scheme	NOUN
fbem-14873	53	12	people	people	NOUN
fbem-14873	53	13	’s	’s	PART
fbem-14873	53	14	views	view	NOUN
fbem-14873	53	15	on	on	ADP
fbem-14873	53	16	the	the	DET
fbem-14873	53	17	effect	effect	NOUN
fbem-14873	53	18	of	of	ADP
fbem-14873	53	19	the	the	DET
fbem-14873	53	20	implementation	implementation	NOUN
fbem-14873	53	21	of	of	ADP
fbem-14873	53	22	equity	equity	NOUN
fbem-14873	53	23	incentives	incentive	NOUN
fbem-14873	53	24	still	still	ADV
fbem-14873	53	25	vary	vary	VERB
fbem-14873	53	26	from	from	ADP
fbem-14873	53	27	person	person	NOUN
fbem-14873	53	28	to	to	ADP
fbem-14873	53	29	person	person	NOUN
fbem-14873	53	30	.	.	PUNCT
fbem-14873	54	1	in	in	ADP
fbem-14873	54	2	this	this	DET
fbem-14873	54	3	paper	paper	NOUN
fbem-14873	54	4	,	,	PUNCT
fbem-14873	54	5	we	we	PRON
fbem-14873	54	6	will	will	AUX
fbem-14873	54	7	review	review	VERB
fbem-14873	54	8	the	the	DET
fbem-14873	54	9	literature	literature	NOUN
fbem-14873	54	10	on	on	ADP
fbem-14873	54	11	the	the	DET
fbem-14873	54	12	positive	positive	ADJ
fbem-14873	54	13	incentive	incentive	NOUN
fbem-14873	54	14	effect	effect	NOUN
fbem-14873	54	15	,	,	PUNCT
fbem-14873	54	16	negative	negative	ADJ
fbem-14873	54	17	incentive	incentive	NOUN
fbem-14873	54	18	effect	effect	NOUN
fbem-14873	54	19	and	and	CCONJ
fbem-14873	54	20	ineffective	ineffective	ADJ
fbem-14873	54	21	incentive	incentive	NOUN
fbem-14873	54	22	of	of	ADP
fbem-14873	54	23	equity	equity	NOUN
fbem-14873	54	24	incentives	incentive	NOUN
fbem-14873	54	25	.	.	PUNCT
fbem-14873	55	1	in	in	ADP
fbem-14873	55	2	terms	term	NOUN
fbem-14873	55	3	of	of	ADP
fbem-14873	55	4	positive	positive	ADJ
fbem-14873	55	5	incentive	incentive	NOUN
fbem-14873	55	6	effects	effect	NOUN
fbem-14873	55	7	,	,	PUNCT
fbem-14873	55	8	existing	exist	VERB
fbem-14873	55	9	studies	study	NOUN
fbem-14873	55	10	are	be	AUX
fbem-14873	55	11	mainly	mainly	ADV
fbem-14873	55	12	based	base	VERB
fbem-14873	55	13	on	on	ADP
fbem-14873	55	14	the	the	DET
fbem-14873	55	15	optimal	optimal	ADJ
fbem-14873	55	16	contract	contract	NOUN
fbem-14873	55	17	theory	theory	NOUN
fbem-14873	55	18	,	,	PUNCT
fbem-14873	55	19	which	which	PRON
fbem-14873	55	20	argues	argue	VERB
fbem-14873	55	21	that	that	SCONJ
fbem-14873	55	22	equity	equity	NOUN
fbem-14873	55	23	incentives	incentive	NOUN
fbem-14873	55	24	are	be	AUX
fbem-14873	55	25	a	a	DET
fbem-14873	55	26	long	long	ADV
fbem-14873	55	27	-	-	PUNCT
fbem-14873	55	28	lasting	last	VERB
fbem-14873	55	29	mechanism	mechanism	NOUN
fbem-14873	55	30	for	for	ADP
fbem-14873	55	31	solving	solve	VERB
fbem-14873	55	32	the	the	DET
fbem-14873	55	33	agency	agency	NOUN
fbem-14873	55	34	problem	problem	NOUN
fbem-14873	55	35	,	,	PUNCT
fbem-14873	55	36	which	which	PRON
fbem-14873	55	37	can	can	AUX
fbem-14873	55	38	effectively	effectively	ADV
fbem-14873	55	39	reduce	reduce	VERB
fbem-14873	55	40	the	the	DET
fbem-14873	55	41	agency	agency	NOUN
fbem-14873	55	42	cost	cost	NOUN
fbem-14873	55	43	and	and	CCONJ
fbem-14873	55	44	enhance	enhance	VERB
fbem-14873	55	45	corporate	corporate	ADJ
fbem-14873	55	46	performance	performance	NOUN
fbem-14873	55	47	(	(	PUNCT
fbem-14873	55	48	chourou	chourou	NOUN
fbem-14873	55	49	et	et	PROPN
fbem-14873	55	50	al	al	PROPN
fbem-14873	55	51	.	.	PROPN
fbem-14873	55	52	2008	2008	NUM
fbem-14873	55	53	;	;	PUNCT
fbem-14873	55	54	fang	fang	X
fbem-14873	55	55	et	et	PROPN
fbem-14873	55	56	al	al	PROPN
fbem-14873	55	57	.	.	PROPN
fbem-14873	55	58	2015	2015	NUM
fbem-14873	55	59	;	;	PUNCT
fbem-14873	55	60	shen	shen	PROPN
fbem-14873	55	61	xiaoyan	xiaoyan	PROPN
fbem-14873	55	62	and	and	CCONJ
fbem-14873	55	63	wang	wang	PROPN
fbem-14873	55	64	yuetang	yuetang	PROPN
fbem-14873	55	65	2015	2015	NUM
fbem-14873	55	66	;	;	PUNCT
fbem-14873	55	67	zhang	zhang	PROPN
fbem-14873	55	68	yan	yan	PROPN
fbem-14873	55	69	and	and	CCONJ
fbem-14873	55	70	fan	fan	PROPN
fbem-14873	55	71	xiaoxia	xiaoxia	PROPN
fbem-14873	55	72	2015	2015	NUM
fbem-14873	55	73	)	)	PUNCT
fbem-14873	55	74	.	.	PUNCT
fbem-14873	56	1	some	some	DET
fbem-14873	56	2	scholars	scholar	NOUN
fbem-14873	56	3	focus	focus	VERB
fbem-14873	56	4	on	on	ADP
fbem-14873	56	5	promoting	promote	VERB
fbem-14873	56	6	corporate	corporate	ADJ
fbem-14873	56	7	innovation	innovation	NOUN
fbem-14873	56	8	(	(	PUNCT
fbem-14873	56	9	marianna	marianna	PROPN
fbem-14873	56	10	et	et	PROPN
fbem-14873	56	11	al	al	PROPN
fbem-14873	56	12	.	.	PROPN
fbem-14873	56	13	2006	2006	NUM
fbem-14873	56	14	;	;	PUNCT
fbem-14873	56	15	zhai	zhai	PROPN
fbem-14873	56	16	shengbao	shengbao	VERB
fbem-14873	56	17	and	and	CCONJ
fbem-14873	56	18	chen	chen	PROPN
fbem-14873	56	19	ziwei	ziwei	PROPN
fbem-14873	56	20	2016	2016	NUM
fbem-14873	56	21	;	;	PUNCT
fbem-14873	56	22	jiang	jiang	PROPN
fbem-14873	56	23	yingbing	yingbe	VERB
fbem-14873	56	24	and	and	CCONJ
fbem-14873	56	25	yu	yu	PROPN
fbem-14873	56	26	yaping	yap	VERB
fbem-14873	56	27	2017	2017	NUM
fbem-14873	56	28	)	)	PUNCT
fbem-14873	56	29	,	,	PUNCT
fbem-14873	56	30	enhancing	enhance	VERB
fbem-14873	56	31	corporate	corporate	ADJ
fbem-14873	56	32	risk	risk	NOUN
fbem-14873	56	33	-	-	PUNCT
fbem-14873	56	34	taking	taking	NOUN
fbem-14873	56	35	(	(	PUNCT
fbem-14873	56	36	li	li	PROPN
fbem-14873	56	37	xiaorong	xiaorong	PROPN
fbem-14873	56	38	and	and	CCONJ
fbem-14873	56	39	zhang	zhang	PROPN
fbem-14873	56	40	ruijun	ruijun	PROPN
fbem-14873	56	41	2014	2014	NUM
fbem-14873	56	42	;	;	PUNCT
fbem-14873	56	43	su	su	PROPN
fbem-14873	56	44	kun	kun	PROPN
fbem-14873	56	45	2015	2015	NUM
fbem-14873	56	46	;	;	PUNCT
fbem-14873	56	47	shue	shue	PROPN
fbem-14873	56	48	and	and	CCONJ
fbem-14873	56	49	townsend	townsend	PROPN
fbem-14873	56	50	2017	2017	NUM
fbem-14873	56	51	)	)	PUNCT
fbem-14873	56	52	and	and	CCONJ
fbem-14873	56	53	suppressing	suppress	VERB
fbem-14873	56	54	inefficient	inefficient	ADJ
fbem-14873	56	55	investment	investment	NOUN
fbem-14873	56	56	(	(	PUNCT
fbem-14873	56	57	lv	lv	PROPN
fbem-14873	56	58	changjiang	changjiang	PROPN
fbem-14873	56	59	and	and	CCONJ
fbem-14873	56	60	zhang	zhang	PROPN
fbem-14873	56	61	haiping	haipe	VERB
fbem-14873	56	62	2011	2011	NUM
fbem-14873	56	63	;	;	PUNCT
fbem-14873	56	64	meng	meng	PROPN
fbem-14873	56	65	xueying	xueying	PROPN
fbem-14873	56	66	and	and	CCONJ
fbem-14873	56	67	song	song	PROPN
fbem-14873	56	68	xiliang	xiliang	PROPN
fbem-14873	56	69	,	,	PUNCT
fbem-14873	56	70	2018	2018	NUM
fbem-14873	56	71	)	)	PUNCT
fbem-14873	56	72	and	and	CCONJ
fbem-14873	56	73	other	other	ADJ
fbem-14873	56	74	perspectives	perspective	NOUN
fbem-14873	56	75	confirm	confirm	VERB
fbem-14873	56	76	the	the	DET
fbem-14873	56	77	positive	positive	ADJ
fbem-14873	56	78	motivational	motivational	ADJ
fbem-14873	56	79	effects	effect	NOUN
fbem-14873	56	80	of	of	ADP
fbem-14873	56	81	equity	equity	NOUN
fbem-14873	56	82	incentives	incentive	NOUN
fbem-14873	56	83	.	.	PUNCT
fbem-14873	57	1	164	164	NUM
fbem-14873	57	2	regarding	regard	VERB
fbem-14873	57	3	the	the	DET
fbem-14873	57	4	negative	negative	ADJ
fbem-14873	57	5	incentive	incentive	NOUN
fbem-14873	57	6	effects	effect	NOUN
fbem-14873	57	7	,	,	PUNCT
fbem-14873	57	8	most	most	ADJ
fbem-14873	57	9	of	of	ADP
fbem-14873	57	10	the	the	DET
fbem-14873	57	11	existing	exist	VERB
fbem-14873	57	12	studies	study	NOUN
fbem-14873	57	13	are	be	AUX
fbem-14873	57	14	based	base	VERB
fbem-14873	57	15	on	on	ADP
fbem-14873	57	16	the	the	DET
fbem-14873	57	17	perspective	perspective	NOUN
fbem-14873	57	18	of	of	ADP
fbem-14873	57	19	managers	manager	NOUN
fbem-14873	57	20	’	’	PART
fbem-14873	57	21	self	self	NOUN
fbem-14873	57	22	-	-	PUNCT
fbem-14873	57	23	seeking	seek	VERB
fbem-14873	57	24	benefits	benefit	NOUN
fbem-14873	57	25	,	,	PUNCT
fbem-14873	57	26	confirming	confirm	VERB
fbem-14873	57	27	that	that	SCONJ
fbem-14873	57	28	in	in	ADP
fbem-14873	57	29	order	order	NOUN
fbem-14873	57	30	to	to	PART
fbem-14873	57	31	meet	meet	VERB
fbem-14873	57	32	the	the	DET
fbem-14873	57	33	performance	performance	NOUN
fbem-14873	57	34	appraisal	appraisal	NOUN
fbem-14873	57	35	requirements	requirement	NOUN
fbem-14873	57	36	of	of	ADP
fbem-14873	57	37	equity	equity	NOUN
fbem-14873	57	38	incentives	incentive	NOUN
fbem-14873	57	39	,	,	PUNCT
fbem-14873	57	40	senior	senior	ADJ
fbem-14873	57	41	executives	executive	NOUN
fbem-14873	57	42	manipulate	manipulate	VERB
fbem-14873	57	43	the	the	DET
fbem-14873	57	44	corporate	corporate	ADJ
fbem-14873	57	45	performance	performance	NOUN
fbem-14873	57	46	by	by	ADP
fbem-14873	57	47	means	mean	NOUN
fbem-14873	57	48	of	of	ADP
fbem-14873	57	49	surplus	surplus	ADJ
fbem-14873	57	50	management	management	NOUN
fbem-14873	57	51	and	and	CCONJ
fbem-14873	57	52	other	other	ADJ
fbem-14873	57	53	means	mean	NOUN
fbem-14873	57	54	,	,	PUNCT
fbem-14873	57	55	so	so	SCONJ
fbem-14873	57	56	as	as	SCONJ
fbem-14873	57	57	to	to	PART
fbem-14873	57	58	maximize	maximize	VERB
fbem-14873	57	59	their	their	PRON
fbem-14873	57	60	own	own	ADJ
fbem-14873	57	61	interests	interest	NOUN
fbem-14873	57	62	(	(	PUNCT
fbem-14873	57	63	bergstresser	bergstresser	NOUN
fbem-14873	57	64	,	,	PUNCT
fbem-14873	57	65	2006	2006	NUM
fbem-14873	57	66	;	;	PUNCT
fbem-14873	57	67	benmelech	benmelech	NOUN
fbem-14873	57	68	et	et	PROPN
fbem-14873	57	69	al	al	PROPN
fbem-14873	57	70	.	.	PROPN
fbem-14873	57	71	2010	2010	NUM
fbem-14873	57	72	;	;	PUNCT
fbem-14873	57	73	xie	xie	PROPN
fbem-14873	57	74	deren	deren	PROPN
fbem-14873	57	75	et	et	PROPN
fbem-14873	57	76	al	al	PROPN
fbem-14873	57	77	.	.	PROPN
fbem-14873	57	78	2019	2019	NUM
fbem-14873	57	79	;	;	PUNCT
fbem-14873	57	80	shen	shen	PROPN
fbem-14873	57	81	hongbo	hongbo	VERB
fbem-14873	57	82	et	et	PROPN
fbem-14873	57	83	al	al	PROPN
fbem-14873	57	84	.	.	PROPN
fbem-14873	57	85	2019	2019	NUM
fbem-14873	57	86	)	)	PUNCT
fbem-14873	57	87	.	.	PUNCT
fbem-14873	57	88	)	)	PUNCT
fbem-14873	57	89	.	.	PUNCT
fbem-14873	58	1	chen	chen	PROPN
fbem-14873	58	2	hong	hong	PROPN
fbem-14873	58	3	and	and	CCONJ
fbem-14873	58	4	guo	guo	PROPN
fbem-14873	58	5	dan	dan	PROPN
fbem-14873	58	6	(	(	PUNCT
fbem-14873	58	7	2017	2017	NUM
fbem-14873	58	8	)	)	PUNCT
fbem-14873	58	9	found	find	VERB
fbem-14873	58	10	that	that	SCONJ
fbem-14873	58	11	short	short	ADJ
fbem-14873	58	12	-	-	PUNCT
fbem-14873	58	13	term	term	NOUN
fbem-14873	58	14	performance	performance	NOUN
fbem-14873	58	15	-	-	PUNCT
fbem-14873	58	16	based	base	VERB
fbem-14873	58	17	equity	equity	NOUN
fbem-14873	58	18	incentives	incentive	NOUN
fbem-14873	58	19	exacerbate	exacerbate	VERB
fbem-14873	58	20	management	management	NOUN
fbem-14873	58	21	self	self	NOUN
fbem-14873	58	22	-	-	PUNCT
fbem-14873	58	23	interested	interested	ADJ
fbem-14873	58	24	behaviors	behavior	NOUN
fbem-14873	58	25	,	,	PUNCT
fbem-14873	58	26	and	and	CCONJ
fbem-14873	58	27	that	that	DET
fbem-14873	58	28	management	management	NOUN
fbem-14873	58	29	may	may	AUX
fbem-14873	58	30	obtain	obtain	VERB
fbem-14873	58	31	private	private	ADJ
fbem-14873	58	32	benefits	benefit	NOUN
fbem-14873	58	33	by	by	ADP
fbem-14873	58	34	paying	pay	VERB
fbem-14873	58	35	cash	cash	NOUN
fbem-14873	58	36	dividends	dividend	NOUN
fbem-14873	58	37	.	.	PUNCT
fbem-14873	59	1	these	these	DET
fbem-14873	59	2	studies	study	NOUN
fbem-14873	59	3	suggest	suggest	VERB
fbem-14873	59	4	that	that	SCONJ
fbem-14873	59	5	equity	equity	NOUN
fbem-14873	59	6	incentives	incentive	NOUN
fbem-14873	59	7	may	may	AUX
fbem-14873	59	8	become	become	VERB
fbem-14873	59	9	a	a	DET
fbem-14873	59	10	self	self	NOUN
fbem-14873	59	11	-	-	PUNCT
fbem-14873	59	12	interested	interested	ADJ
fbem-14873	59	13	welfare	welfare	NOUN
fbem-14873	59	14	behavior	behavior	NOUN
fbem-14873	59	15	of	of	ADP
fbem-14873	59	16	management	management	NOUN
fbem-14873	59	17	and	and	CCONJ
fbem-14873	59	18	do	do	AUX
fbem-14873	59	19	not	not	PART
fbem-14873	59	20	realize	realize	VERB
fbem-14873	59	21	the	the	DET
fbem-14873	59	22	effect	effect	NOUN
fbem-14873	59	23	of	of	ADP
fbem-14873	59	24	mitigating	mitigate	VERB
fbem-14873	59	25	agency	agency	NOUN
fbem-14873	59	26	conflicts	conflict	NOUN
fbem-14873	59	27	.	.	PUNCT
fbem-14873	60	1	in	in	ADP
fbem-14873	60	2	addition	addition	NOUN
fbem-14873	60	3	,	,	PUNCT
fbem-14873	60	4	some	some	DET
fbem-14873	60	5	studies	study	NOUN
fbem-14873	60	6	have	have	AUX
fbem-14873	60	7	found	find	VERB
fbem-14873	60	8	that	that	SCONJ
fbem-14873	60	9	equity	equity	NOUN
fbem-14873	60	10	incentives	incentive	NOUN
fbem-14873	60	11	do	do	AUX
fbem-14873	60	12	not	not	PART
fbem-14873	60	13	exert	exert	VERB
fbem-14873	60	14	incentive	incentive	NOUN
fbem-14873	60	15	effects	effect	NOUN
fbem-14873	60	16	and	and	CCONJ
fbem-14873	60	17	can	can	AUX
fbem-14873	60	18	not	not	PART
fbem-14873	60	19	effectively	effectively	ADV
fbem-14873	60	20	enhance	enhance	VERB
fbem-14873	60	21	corporate	corporate	ADJ
fbem-14873	60	22	performance	performance	NOUN
fbem-14873	60	23	(	(	PUNCT
fbem-14873	60	24	demsetz	demsetz	VERB
fbem-14873	60	25	and	and	CCONJ
fbem-14873	60	26	lehn	lehn	NOUN
fbem-14873	60	27	,	,	PUNCT
fbem-14873	60	28	1985	1985	NUM
fbem-14873	60	29	;	;	PUNCT
fbem-14873	60	30	immelberg	immelberg	PROPN
fbem-14873	60	31	and	and	CCONJ
fbem-14873	60	32	palia	palia	PROPN
fbem-14873	60	33	,	,	PUNCT
fbem-14873	60	34	1999	1999	NUM
fbem-14873	60	35	)	)	PUNCT
fbem-14873	60	36	.	.	PUNCT
fbem-14873	61	1	some	some	DET
fbem-14873	61	2	other	other	ADJ
fbem-14873	61	3	scholars	scholar	NOUN
fbem-14873	61	4	have	have	AUX
fbem-14873	61	5	found	find	VERB
fbem-14873	61	6	that	that	SCONJ
fbem-14873	61	7	equity	equity	NOUN
fbem-14873	61	8	incentives	incentive	NOUN
fbem-14873	61	9	and	and	CCONJ
fbem-14873	61	10	corporate	corporate	ADJ
fbem-14873	61	11	value	value	NOUN
fbem-14873	61	12	are	be	AUX
fbem-14873	61	13	a	a	DET
fbem-14873	61	14	nonlinear	nonlinear	ADJ
fbem-14873	61	15	interval	interval	NOUN
fbem-14873	61	16	effect	effect	NOUN
fbem-14873	61	17	relationship	relationship	NOUN
fbem-14873	61	18	(	(	PUNCT
fbem-14873	61	19	griffith	griffith	PROPN
fbem-14873	61	20	,	,	PUNCT
fbem-14873	61	21	1999	1999	NUM
fbem-14873	61	22	;	;	PUNCT
fbem-14873	61	23	zhang	zhang	PROPN
fbem-14873	61	24	yan	yan	PROPN
fbem-14873	61	25	and	and	CCONJ
fbem-14873	61	26	fan	fan	PROPN
fbem-14873	61	27	xiaoxia	xiaoxia	PROPN
fbem-14873	61	28	,	,	PUNCT
fbem-14873	61	29	2015	2015	NUM
fbem-14873	61	30	)	)	PUNCT
fbem-14873	61	31	.	.	PUNCT
fbem-14873	62	1	overall	overall	ADJ
fbem-14873	62	2	,	,	PUNCT
fbem-14873	62	3	although	although	SCONJ
fbem-14873	62	4	a	a	DET
fbem-14873	62	5	large	large	ADJ
fbem-14873	62	6	number	number	NOUN
fbem-14873	62	7	of	of	ADP
fbem-14873	62	8	academic	academic	ADJ
fbem-14873	62	9	studies	study	NOUN
fbem-14873	62	10	have	have	AUX
fbem-14873	62	11	examined	examine	VERB
fbem-14873	62	12	the	the	DET
fbem-14873	62	13	design	design	NOUN
fbem-14873	62	14	of	of	ADP
fbem-14873	62	15	equity	equity	NOUN
fbem-14873	62	16	incentive	incentive	NOUN
fbem-14873	62	17	programs	program	NOUN
fbem-14873	62	18	and	and	CCONJ
fbem-14873	62	19	the	the	DET
fbem-14873	62	20	effects	effect	NOUN
fbem-14873	62	21	of	of	ADP
fbem-14873	62	22	equity	equity	NOUN
fbem-14873	62	23	incentives	incentive	NOUN
fbem-14873	62	24	based	base	VERB
fbem-14873	62	25	on	on	ADP
fbem-14873	62	26	chinese	chinese	ADJ
fbem-14873	62	27	data	datum	NOUN
fbem-14873	62	28	,	,	PUNCT
fbem-14873	62	29	and	and	CCONJ
fbem-14873	62	30	some	some	DET
fbem-14873	62	31	scholars	scholar	NOUN
fbem-14873	62	32	have	have	AUX
fbem-14873	62	33	conducted	conduct	VERB
fbem-14873	62	34	separate	separate	ADJ
fbem-14873	62	35	studies	study	NOUN
fbem-14873	62	36	on	on	ADP
fbem-14873	62	37	firms	firm	NOUN
fbem-14873	62	38	with	with	ADP
fbem-14873	62	39	different	different	ADJ
fbem-14873	62	40	ownership	ownership	NOUN
fbem-14873	62	41	properties	property	NOUN
fbem-14873	62	42	in	in	ADP
fbem-14873	62	43	different	different	ADJ
fbem-14873	62	44	sectors	sector	NOUN
fbem-14873	62	45	,	,	PUNCT
fbem-14873	62	46	there	there	PRON
fbem-14873	62	47	is	be	VERB
fbem-14873	62	48	still	still	ADV
fbem-14873	62	49	controversy	controversy	NOUN
fbem-14873	62	50	about	about	ADP
fbem-14873	62	51	the	the	DET
fbem-14873	62	52	effectiveness	effectiveness	NOUN
fbem-14873	62	53	of	of	ADP
fbem-14873	62	54	the	the	DET
fbem-14873	62	55	implementation	implementation	NOUN
fbem-14873	62	56	of	of	ADP
fbem-14873	62	57	equity	equity	NOUN
fbem-14873	62	58	incentives	incentive	NOUN
fbem-14873	62	59	.	.	PUNCT
fbem-14873	63	1	some	some	PRON
fbem-14873	63	2	of	of	ADP
fbem-14873	63	3	the	the	DET
fbem-14873	63	4	literature	literature	NOUN
fbem-14873	63	5	finds	find	VERB
fbem-14873	63	6	that	that	SCONJ
fbem-14873	63	7	equity	equity	NOUN
fbem-14873	63	8	incentives	incentive	NOUN
fbem-14873	63	9	can	can	AUX
fbem-14873	63	10	effectively	effectively	ADV
fbem-14873	63	11	solve	solve	VERB
fbem-14873	63	12	the	the	DET
fbem-14873	63	13	agency	agency	NOUN
fbem-14873	63	14	problem	problem	NOUN
fbem-14873	63	15	,	,	PUNCT
fbem-14873	63	16	while	while	SCONJ
fbem-14873	63	17	some	some	PRON
fbem-14873	63	18	of	of	ADP
fbem-14873	63	19	the	the	DET
fbem-14873	63	20	literature	literature	NOUN
fbem-14873	63	21	finds	find	VERB
fbem-14873	63	22	that	that	SCONJ
fbem-14873	63	23	the	the	DET
fbem-14873	63	24	design	design	NOUN
fbem-14873	63	25	of	of	ADP
fbem-14873	63	26	equity	equity	NOUN
fbem-14873	63	27	incentive	incentive	NOUN
fbem-14873	63	28	programs	program	NOUN
fbem-14873	63	29	is	be	AUX
fbem-14873	63	30	problematic	problematic	ADJ
fbem-14873	63	31	to	to	ADP
fbem-14873	63	32	the	the	DET
fbem-14873	63	33	extent	extent	NOUN
fbem-14873	63	34	that	that	SCONJ
fbem-14873	63	35	equity	equity	NOUN
fbem-14873	63	36	incentives	incentive	NOUN
fbem-14873	63	37	become	become	VERB
fbem-14873	63	38	a	a	DET
fbem-14873	63	39	tool	tool	NOUN
fbem-14873	63	40	for	for	SCONJ
fbem-14873	63	41	executives	executive	NOUN
fbem-14873	63	42	to	to	PART
fbem-14873	63	43	seek	seek	VERB
fbem-14873	63	44	personal	personal	ADJ
fbem-14873	63	45	benefits	benefit	NOUN
fbem-14873	63	46	and	and	CCONJ
fbem-14873	63	47	lose	lose	VERB
fbem-14873	63	48	the	the	DET
fbem-14873	63	49	role	role	NOUN
fbem-14873	63	50	of	of	ADP
fbem-14873	63	51	constraints	constraint	NOUN
fbem-14873	63	52	and	and	CCONJ
fbem-14873	63	53	incentives	incentive	NOUN
fbem-14873	63	54	.	.	PUNCT
fbem-14873	64	1	5	5	X
fbem-14873	64	2	.	.	X
fbem-14873	64	3	explanation	explanation	NOUN
fbem-14873	64	4	of	of	ADP
fbem-14873	64	5	equity	equity	NOUN
fbem-14873	64	6	incentive	incentive	NOUN
fbem-14873	64	7	practices	practice	NOUN
fbem-14873	64	8	of	of	ADP
fbem-14873	64	9	chinese	chinese	ADJ
fbem-14873	64	10	listed	list	VERB
fbem-14873	64	11	companies	company	NOUN
fbem-14873	64	12	5.1	5.1	NUM
fbem-14873	64	13	.	.	PUNCT
fbem-14873	65	1	equity	equity	NOUN
fbem-14873	65	2	incentive	incentive	NOUN
fbem-14873	65	3	effects	effect	NOUN
fbem-14873	65	4	as	as	ADP
fbem-14873	65	5	a	a	DET
fbem-14873	65	6	long	long	ADJ
fbem-14873	65	7	-	-	PUNCT
fbem-14873	65	8	term	term	NOUN
fbem-14873	65	9	incentive	incentive	NOUN
fbem-14873	65	10	mechanism	mechanism	NOUN
fbem-14873	66	1	,	,	PUNCT
fbem-14873	66	2	equity	equity	NOUN
fbem-14873	66	3	incentive	incentive	NOUN
fbem-14873	66	4	is	be	AUX
fbem-14873	66	5	theoretically	theoretically	ADV
fbem-14873	66	6	an	an	DET
fbem-14873	66	7	important	important	ADJ
fbem-14873	66	8	institutional	institutional	ADJ
fbem-14873	66	9	design	design	NOUN
fbem-14873	66	10	to	to	PART
fbem-14873	66	11	alleviate	alleviate	VERB
fbem-14873	66	12	the	the	DET
fbem-14873	66	13	principal	principal	ADJ
fbem-14873	66	14	-	-	PUNCT
fbem-14873	66	15	agent	agent	NOUN
fbem-14873	66	16	problem	problem	NOUN
fbem-14873	66	17	of	of	ADP
fbem-14873	66	18	enterprises	enterprise	NOUN
fbem-14873	66	19	,	,	PUNCT
fbem-14873	66	20	which	which	PRON
fbem-14873	66	21	can	can	AUX
fbem-14873	66	22	effectively	effectively	ADV
fbem-14873	66	23	bind	bind	VERB
fbem-14873	66	24	the	the	DET
fbem-14873	66	25	interests	interest	NOUN
fbem-14873	66	26	of	of	ADP
fbem-14873	66	27	shareholders	shareholder	NOUN
fbem-14873	66	28	and	and	CCONJ
fbem-14873	66	29	incentive	incentive	NOUN
fbem-14873	66	30	recipients	recipient	NOUN
fbem-14873	66	31	,	,	PUNCT
fbem-14873	66	32	and	and	CCONJ
fbem-14873	66	33	realize	realize	VERB
fbem-14873	66	34	the	the	DET
fbem-14873	66	35	synergy	synergy	NOUN
fbem-14873	66	36	of	of	ADP
fbem-14873	66	37	interests	interest	NOUN
fbem-14873	66	38	of	of	ADP
fbem-14873	66	39	both	both	DET
fbem-14873	66	40	parties	party	NOUN
fbem-14873	66	41	.	.	PUNCT
fbem-14873	67	1	however	however	ADV
fbem-14873	67	2	,	,	PUNCT
fbem-14873	67	3	according	accord	VERB
fbem-14873	67	4	to	to	ADP
fbem-14873	67	5	the	the	DET
fbem-14873	67	6	previous	previous	ADJ
fbem-14873	67	7	literature	literature	NOUN
fbem-14873	67	8	,	,	PUNCT
fbem-14873	67	9	the	the	DET
fbem-14873	67	10	practical	practical	ADJ
fbem-14873	67	11	operation	operation	NOUN
fbem-14873	67	12	of	of	ADP
fbem-14873	67	13	equity	equity	NOUN
fbem-14873	67	14	incentives	incentive	NOUN
fbem-14873	67	15	is	be	AUX
fbem-14873	67	16	not	not	PART
fbem-14873	67	17	completely	completely	ADV
fbem-14873	67	18	consistent	consistent	ADJ
fbem-14873	67	19	with	with	ADP
fbem-14873	67	20	the	the	DET
fbem-14873	67	21	theory	theory	NOUN
fbem-14873	67	22	,	,	PUNCT
fbem-14873	67	23	and	and	CCONJ
fbem-14873	67	24	the	the	DET
fbem-14873	67	25	equity	equity	NOUN
fbem-14873	67	26	incentives	incentive	NOUN
fbem-14873	67	27	of	of	ADP
fbem-14873	67	28	listed	list	VERB
fbem-14873	67	29	companies	company	NOUN
fbem-14873	67	30	in	in	ADP
fbem-14873	67	31	china	china	PROPN
fbem-14873	67	32	are	be	AUX
fbem-14873	67	33	generally	generally	ADV
fbem-14873	67	34	characterized	characterize	VERB
fbem-14873	67	35	by	by	ADP
fbem-14873	67	36	low	low	ADJ
fbem-14873	67	37	incentive	incentive	NOUN
fbem-14873	67	38	intensity	intensity	NOUN
fbem-14873	67	39	,	,	PUNCT
fbem-14873	67	40	loose	loose	ADJ
fbem-14873	67	41	exercise	exercise	NOUN
fbem-14873	67	42	conditions	condition	NOUN
fbem-14873	67	43	,	,	PUNCT
fbem-14873	67	44	and	and	CCONJ
fbem-14873	67	45	short	short	ADJ
fbem-14873	67	46	incentive	incentive	NOUN
fbem-14873	67	47	period	period	NOUN
fbem-14873	67	48	,	,	PUNCT
fbem-14873	67	49	etc	etc	X
fbem-14873	67	50	.	.	X
fbem-14873	68	1	more	more	ADJ
fbem-14873	68	2	and	and	CCONJ
fbem-14873	68	3	more	more	ADV
fbem-14873	68	4	corporate	corporate	ADJ
fbem-14873	68	5	practices	practice	NOUN
fbem-14873	68	6	show	show	VERB
fbem-14873	68	7	that	that	SCONJ
fbem-14873	68	8	the	the	DET
fbem-14873	68	9	equity	equity	NOUN
fbem-14873	68	10	incentives	incentive	NOUN
fbem-14873	68	11	are	be	AUX
fbem-14873	68	12	“	"	PUNCT
fbem-14873	68	13	welfare	welfare	NOUN
fbem-14873	68	14	”	"	PUNCT
fbem-14873	68	15	.	.	PUNCT
fbem-14873	69	1	in	in	ADP
fbem-14873	69	2	this	this	DET
fbem-14873	69	3	case	case	NOUN
fbem-14873	69	4	,	,	PUNCT
fbem-14873	69	5	equity	equity	NOUN
fbem-14873	69	6	incentives	incentive	NOUN
fbem-14873	69	7	are	be	AUX
fbem-14873	69	8	not	not	PART
fbem-14873	69	9	only	only	ADV
fbem-14873	69	10	ineffective	ineffective	ADJ
fbem-14873	69	11	in	in	ADP
fbem-14873	69	12	alleviating	alleviate	VERB
fbem-14873	69	13	the	the	DET
fbem-14873	69	14	agency	agency	NOUN
fbem-14873	69	15	problem	problem	NOUN
fbem-14873	69	16	,	,	PUNCT
fbem-14873	69	17	but	but	CCONJ
fbem-14873	69	18	also	also	ADV
fbem-14873	69	19	may	may	AUX
fbem-14873	69	20	become	become	VERB
fbem-14873	69	21	self	self	NOUN
fbem-14873	69	22	-	-	PUNCT
fbem-14873	69	23	serving	serve	VERB
fbem-14873	69	24	benefits	benefit	NOUN
fbem-14873	69	25	under	under	ADP
fbem-14873	69	26	the	the	DET
fbem-14873	69	27	leadership	leadership	NOUN
fbem-14873	69	28	of	of	ADP
fbem-14873	69	29	managers	manager	NOUN
fbem-14873	69	30	.	.	PUNCT
fbem-14873	70	1	the	the	DET
fbem-14873	70	2	reason	reason	NOUN
fbem-14873	70	3	for	for	ADP
fbem-14873	70	4	this	this	PRON
fbem-14873	70	5	is	be	AUX
fbem-14873	70	6	that	that	SCONJ
fbem-14873	70	7	,	,	PUNCT
fbem-14873	70	8	on	on	ADP
fbem-14873	70	9	the	the	DET
fbem-14873	70	10	one	one	NUM
fbem-14873	70	11	hand	hand	NOUN
fbem-14873	70	12	,	,	PUNCT
fbem-14873	70	13	the	the	DET
fbem-14873	70	14	autonomy	autonomy	NOUN
fbem-14873	70	15	of	of	ADP
fbem-14873	70	16	performance	performance	NOUN
fbem-14873	70	17	appraisal	appraisal	NOUN
fbem-14873	70	18	indexes	index	NOUN
fbem-14873	70	19	in	in	ADP
fbem-14873	70	20	practice	practice	NOUN
fbem-14873	70	21	leaves	leave	VERB
fbem-14873	70	22	some	some	DET
fbem-14873	70	23	discretionary	discretionary	ADJ
fbem-14873	70	24	space	space	NOUN
fbem-14873	70	25	for	for	ADP
fbem-14873	70	26	companies	company	NOUN
fbem-14873	70	27	implementing	implement	VERB
fbem-14873	70	28	equity	equity	NOUN
fbem-14873	70	29	incentives	incentive	NOUN
fbem-14873	70	30	.	.	PUNCT
fbem-14873	71	1	although	although	SCONJ
fbem-14873	71	2	the	the	DET
fbem-14873	71	3	securities	security	NOUN
fbem-14873	71	4	and	and	CCONJ
fbem-14873	71	5	futures	future	NOUN
fbem-14873	71	6	commission	commission	PROPN
fbem-14873	71	7	issued	issue	VERB
fbem-14873	71	8	the	the	DET
fbem-14873	71	9	“	"	PUNCT
fbem-14873	71	10	listed	list	VERB
fbem-14873	71	11	company	company	NOUN
fbem-14873	71	12	equity	equity	NOUN
fbem-14873	71	13	incentive	incentive	PROPN
fbem-14873	71	14	management	management	NOUN
fbem-14873	71	15	approach	approach	NOUN
fbem-14873	71	16	”	"	PUNCT
fbem-14873	71	17	which	which	PRON
fbem-14873	71	18	clearly	clearly	ADV
fbem-14873	71	19	requires	require	VERB
fbem-14873	71	20	listed	list	VERB
fbem-14873	71	21	companies	company	NOUN
fbem-14873	71	22	to	to	PART
fbem-14873	71	23	set	set	VERB
fbem-14873	71	24	assessment	assessment	NOUN
fbem-14873	71	25	indicators	indicator	NOUN
fbem-14873	71	26	when	when	SCONJ
fbem-14873	71	27	they	they	PRON
fbem-14873	71	28	implement	implement	VERB
fbem-14873	71	29	equity	equity	NOUN
fbem-14873	71	30	incentives	incentive	NOUN
fbem-14873	71	31	,	,	PUNCT
fbem-14873	71	32	but	but	CCONJ
fbem-14873	71	33	most	most	ADJ
fbem-14873	71	34	of	of	ADP
fbem-14873	71	35	the	the	DET
fbem-14873	71	36	listed	list	VERB
fbem-14873	71	37	companies	company	NOUN
fbem-14873	71	38	take	take	VERB
fbem-14873	71	39	the	the	DET
fbem-14873	71	40	company	company	NOUN
fbem-14873	71	41	’s	’s	PART
fbem-14873	71	42	performance	performance	NOUN
fbem-14873	71	43	as	as	ADP
fbem-14873	71	44	a	a	DET
fbem-14873	71	45	benchmark	benchmark	NOUN
fbem-14873	71	46	and	and	CCONJ
fbem-14873	71	47	set	set	VERB
fbem-14873	71	48	a	a	DET
fbem-14873	71	49	single	single	ADJ
fbem-14873	71	50	indicator	indicator	NOUN
fbem-14873	71	51	,	,	PUNCT
fbem-14873	71	52	so	so	ADV
fbem-14873	71	53	equity	equity	NOUN
fbem-14873	71	54	incentives	incentive	NOUN
fbem-14873	71	55	fail	fail	VERB
fbem-14873	71	56	to	to	PART
fbem-14873	71	57	exert	exert	VERB
fbem-14873	71	58	its	its	PRON
fbem-14873	71	59	incentive	incentive	NOUN
fbem-14873	71	60	and	and	CCONJ
fbem-14873	71	61	constraint	constraint	NOUN
fbem-14873	71	62	effects	effect	NOUN
fbem-14873	71	63	on	on	ADP
fbem-14873	71	64	the	the	DET
fbem-14873	71	65	executives	executive	NOUN
fbem-14873	71	66	.	.	PUNCT
fbem-14873	72	1	on	on	ADP
fbem-14873	72	2	the	the	DET
fbem-14873	72	3	other	other	ADJ
fbem-14873	72	4	hand	hand	NOUN
fbem-14873	72	5	,	,	PUNCT
fbem-14873	72	6	equity	equity	NOUN
fbem-14873	72	7	incentives	incentive	NOUN
fbem-14873	72	8	are	be	AUX
fbem-14873	72	9	set	set	VERB
fbem-14873	72	10	for	for	ADP
fbem-14873	72	11	a	a	DET
fbem-14873	72	12	shorter	short	ADJ
fbem-14873	72	13	period	period	NOUN
fbem-14873	72	14	of	of	ADP
fbem-14873	72	15	time	time	NOUN
fbem-14873	72	16	,	,	PUNCT
fbem-14873	72	17	which	which	PRON
fbem-14873	72	18	is	be	AUX
fbem-14873	72	19	not	not	PART
fbem-14873	72	20	fully	fully	ADV
fbem-14873	72	21	consistent	consistent	ADJ
fbem-14873	72	22	with	with	ADP
fbem-14873	72	23	its	its	PRON
fbem-14873	72	24	role	role	NOUN
fbem-14873	72	25	as	as	ADP
fbem-14873	72	26	a	a	DET
fbem-14873	72	27	long	long	ADJ
fbem-14873	72	28	-	-	PUNCT
fbem-14873	72	29	term	term	NOUN
fbem-14873	72	30	incentive	incentive	NOUN
fbem-14873	72	31	mechanism	mechanism	NOUN
fbem-14873	72	32	.	.	PUNCT
fbem-14873	73	1	according	accord	VERB
fbem-14873	73	2	to	to	ADP
fbem-14873	73	3	the	the	DET
fbem-14873	73	4	research	research	NOUN
fbem-14873	73	5	of	of	ADP
fbem-14873	73	6	lv	lv	PROPN
fbem-14873	73	7	changjiang	changjiang	PROPN
fbem-14873	73	8	et	et	PROPN
fbem-14873	73	9	al	al	PROPN
fbem-14873	73	10	.	.	PROPN
fbem-14873	74	1	(	(	PUNCT
fbem-14873	74	2	2009	2009	NUM
fbem-14873	74	3	)	)	PUNCT
fbem-14873	74	4	,	,	PUNCT
fbem-14873	74	5	the	the	DET
fbem-14873	74	6	shorter	short	ADJ
fbem-14873	74	7	incentive	incentive	NOUN
fbem-14873	74	8	period	period	NOUN
fbem-14873	74	9	can	can	AUX
fbem-14873	74	10	not	not	PART
fbem-14873	74	11	fully	fully	ADV
fbem-14873	74	12	reflect	reflect	VERB
fbem-14873	74	13	the	the	DET
fbem-14873	74	14	fundamental	fundamental	ADJ
fbem-14873	74	15	purpose	purpose	NOUN
fbem-14873	74	16	of	of	ADP
fbem-14873	74	17	equity	equity	NOUN
fbem-14873	74	18	incentives	incentive	NOUN
fbem-14873	74	19	,	,	PUNCT
fbem-14873	74	20	which	which	PRON
fbem-14873	74	21	makes	make	VERB
fbem-14873	74	22	equity	equity	NOUN
fbem-14873	74	23	incentives	incentive	NOUN
fbem-14873	74	24	“	"	PUNCT
fbem-14873	74	25	welfare	welfare	NOUN
fbem-14873	74	26	”	"	PUNCT
fbem-14873	74	27	and	and	CCONJ
fbem-14873	74	28	leads	lead	VERB
fbem-14873	74	29	to	to	ADP
fbem-14873	74	30	the	the	DET
fbem-14873	74	31	alienation	alienation	NOUN
fbem-14873	74	32	of	of	ADP
fbem-14873	74	33	the	the	DET
fbem-14873	74	34	effect	effect	NOUN
fbem-14873	74	35	of	of	ADP
fbem-14873	74	36	equity	equity	NOUN
fbem-14873	74	37	incentives	incentive	NOUN
fbem-14873	74	38	.	.	PUNCT
fbem-14873	75	1	5.2	5.2	NUM
fbem-14873	75	2	.	.	PUNCT
fbem-14873	75	3	equity	equity	NOUN
fbem-14873	75	4	incentive	incentive	PROPN
fbem-14873	75	5	intensity	intensity	NOUN
fbem-14873	75	6	jensen	jensen	PROPN
fbem-14873	75	7	and	and	CCONJ
fbem-14873	75	8	meckling	meckling	NOUN
fbem-14873	75	9	(	(	PUNCT
fbem-14873	75	10	1976	1976	NUM
fbem-14873	75	11	)	)	PUNCT
fbem-14873	75	12	pointed	point	VERB
fbem-14873	75	13	out	out	ADP
fbem-14873	75	14	that	that	SCONJ
fbem-14873	75	15	managers	manager	NOUN
fbem-14873	75	16	holding	hold	VERB
fbem-14873	75	17	equity	equity	NOUN
fbem-14873	75	18	in	in	ADP
fbem-14873	75	19	the	the	DET
fbem-14873	75	20	company	company	NOUN
fbem-14873	75	21	can	can	AUX
fbem-14873	75	22	alleviate	alleviate	VERB
fbem-14873	75	23	the	the	DET
fbem-14873	75	24	agency	agency	NOUN
fbem-14873	75	25	problem	problem	NOUN
fbem-14873	75	26	,	,	PUNCT
fbem-14873	75	27	promote	promote	VERB
fbem-14873	75	28	the	the	DET
fbem-14873	75	29	convergence	convergence	NOUN
fbem-14873	75	30	of	of	ADP
fbem-14873	75	31	their	their	PRON
fbem-14873	75	32	personal	personal	ADJ
fbem-14873	75	33	interests	interest	NOUN
fbem-14873	75	34	and	and	CCONJ
fbem-14873	75	35	the	the	DET
fbem-14873	75	36	interests	interest	NOUN
fbem-14873	75	37	of	of	ADP
fbem-14873	75	38	the	the	DET
fbem-14873	75	39	company	company	NOUN
fbem-14873	75	40	’s	’s	PART
fbem-14873	75	41	shareholders	shareholder	NOUN
fbem-14873	75	42	,	,	PUNCT
fbem-14873	75	43	and	and	CCONJ
fbem-14873	75	44	jointly	jointly	ADV
fbem-14873	75	45	help	help	VERB
fbem-14873	75	46	maximize	maximize	VERB
fbem-14873	75	47	corporate	corporate	ADJ
fbem-14873	75	48	value	value	NOUN
fbem-14873	75	49	.	.	PUNCT
fbem-14873	76	1	however	however	ADV
fbem-14873	76	2	,	,	PUNCT
fbem-14873	76	3	too	too	ADV
fbem-14873	76	4	much	much	ADJ
fbem-14873	76	5	incentive	incentive	NOUN
fbem-14873	76	6	intensity	intensity	NOUN
fbem-14873	76	7	can	can	AUX
fbem-14873	76	8	easily	easily	ADV
fbem-14873	76	9	lead	lead	VERB
fbem-14873	76	10	to	to	ADP
fbem-14873	76	11	insider	insider	NOUN
fbem-14873	76	12	control	control	NOUN
fbem-14873	76	13	and	and	CCONJ
fbem-14873	76	14	aggravate	aggravate	VERB
fbem-14873	76	15	the	the	DET
fbem-14873	76	16	agency	agency	NOUN
fbem-14873	76	17	problem	problem	NOUN
fbem-14873	76	18	.	.	PUNCT
fbem-14873	77	1	the	the	DET
fbem-14873	77	2	current	current	ADJ
fbem-14873	77	3	academic	academic	ADJ
fbem-14873	77	4	literature	literature	NOUN
fbem-14873	77	5	around	around	ADP
fbem-14873	77	6	the	the	DET
fbem-14873	77	7	scope	scope	NOUN
fbem-14873	77	8	of	of	ADP
fbem-14873	77	9	incentive	incentive	NOUN
fbem-14873	77	10	intensity	intensity	NOUN
fbem-14873	77	11	has	have	AUX
fbem-14873	77	12	launched	launch	VERB
fbem-14873	77	13	a	a	DET
fbem-14873	77	14	broader	broad	ADJ
fbem-14873	77	15	discussion	discussion	NOUN
fbem-14873	77	16	.	.	PUNCT
fbem-14873	78	1	although	although	SCONJ
fbem-14873	78	2	there	there	PRON
fbem-14873	78	3	is	be	VERB
fbem-14873	78	4	no	no	DET
fbem-14873	78	5	agreement	agreement	NOUN
fbem-14873	78	6	on	on	ADP
fbem-14873	78	7	the	the	DET
fbem-14873	78	8	optimal	optimal	ADJ
fbem-14873	78	9	range	range	NOUN
fbem-14873	78	10	of	of	ADP
fbem-14873	78	11	incentive	incentive	NOUN
fbem-14873	78	12	intensity	intensity	NOUN
fbem-14873	78	13	,	,	PUNCT
fbem-14873	78	14	the	the	DET
fbem-14873	78	15	general	general	ADJ
fbem-14873	78	16	consensus	consensus	NOUN
fbem-14873	78	17	is	be	AUX
fbem-14873	78	18	:	:	PUNCT
fbem-14873	78	19	within	within	ADP
fbem-14873	78	20	a	a	DET
fbem-14873	78	21	certain	certain	ADJ
fbem-14873	78	22	range	range	NOUN
fbem-14873	78	23	of	of	ADP
fbem-14873	78	24	equity	equity	NOUN
fbem-14873	78	25	incentives	incentive	NOUN
fbem-14873	78	26	,	,	PUNCT
fbem-14873	78	27	the	the	PRON
fbem-14873	78	28	greater	great	ADJ
fbem-14873	78	29	the	the	DET
fbem-14873	78	30	intensity	intensity	NOUN
fbem-14873	78	31	of	of	ADP
fbem-14873	78	32	incentives	incentive	NOUN
fbem-14873	78	33	,	,	PUNCT
fbem-14873	78	34	the	the	PRON
fbem-14873	78	35	better	well	ADJ
fbem-14873	78	36	the	the	DET
fbem-14873	78	37	incentive	incentive	NOUN
fbem-14873	78	38	effect	effect	NOUN
fbem-14873	78	39	.	.	PUNCT
fbem-14873	79	1	however	however	ADV
fbem-14873	79	2	,	,	PUNCT
fbem-14873	79	3	attention	attention	NOUN
fbem-14873	79	4	should	should	AUX
fbem-14873	79	5	be	be	AUX
fbem-14873	79	6	paid	pay	VERB
fbem-14873	79	7	to	to	ADP
fbem-14873	79	8	the	the	DET
fbem-14873	79	9	degree	degree	NOUN
fbem-14873	79	10	of	of	ADP
fbem-14873	79	11	the	the	DET
fbem-14873	79	12	intensity	intensity	NOUN
fbem-14873	79	13	of	of	ADP
fbem-14873	79	14	executive	executive	ADJ
fbem-14873	79	15	equity	equity	NOUN
fbem-14873	79	16	incentives	incentive	NOUN
fbem-14873	79	17	to	to	PART
fbem-14873	79	18	prevent	prevent	VERB
fbem-14873	79	19	executives	executive	NOUN
fbem-14873	79	20	’	’	PART
fbem-14873	79	21	self	self	NOUN
fbem-14873	79	22	-	-	PUNCT
fbem-14873	79	23	interested	interest	VERB
fbem-14873	79	24	behaviors	behavior	NOUN
fbem-14873	79	25	triggered	trigger	VERB
fbem-14873	79	26	by	by	ADP
fbem-14873	79	27	the	the	DET
fbem-14873	79	28	increase	increase	NOUN
fbem-14873	79	29	in	in	ADP
fbem-14873	79	30	control	control	NOUN
fbem-14873	79	31	that	that	PRON
fbem-14873	79	32	ultimately	ultimately	ADV
fbem-14873	79	33	damage	damage	VERB
fbem-14873	79	34	the	the	DET
fbem-14873	79	35	value	value	NOUN
fbem-14873	79	36	of	of	ADP
fbem-14873	79	37	the	the	DET
fbem-14873	79	38	corporate	corporate	NOUN
fbem-14873	79	39	.	.	PUNCT
fbem-14873	80	1	most	most	ADJ
fbem-14873	80	2	of	of	ADP
fbem-14873	80	3	the	the	DET
fbem-14873	80	4	listed	list	VERB
fbem-14873	80	5	companies	company	NOUN
fbem-14873	80	6	in	in	ADP
fbem-14873	80	7	china	china	PROPN
fbem-14873	80	8	that	that	PRON
fbem-14873	80	9	have	have	AUX
fbem-14873	80	10	implemented	implement	VERB
fbem-14873	80	11	equity	equity	NOUN
fbem-14873	80	12	incentives	incentive	NOUN
fbem-14873	80	13	have	have	AUX
fbem-14873	80	14	only	only	ADV
fbem-14873	80	15	implemented	implement	VERB
fbem-14873	80	16	a	a	DET
fbem-14873	80	17	single	single	ADJ
fbem-14873	80	18	equity	equity	NOUN
fbem-14873	80	19	incentive	incentive	NOUN
fbem-14873	80	20	,	,	PUNCT
fbem-14873	80	21	and	and	CCONJ
fbem-14873	80	22	the	the	DET
fbem-14873	80	23	intensity	intensity	NOUN
fbem-14873	80	24	of	of	ADP
fbem-14873	80	25	equity	equity	NOUN
fbem-14873	80	26	incentives	incentive	NOUN
fbem-14873	80	27	is	be	AUX
fbem-14873	80	28	much	much	ADV
fbem-14873	80	29	lower	low	ADJ
fbem-14873	80	30	than	than	ADP
fbem-14873	80	31	the	the	DET
fbem-14873	80	32	level	level	NOUN
fbem-14873	80	33	of	of	ADP
fbem-14873	80	34	incentives	incentive	NOUN
fbem-14873	80	35	in	in	ADP
fbem-14873	80	36	western	western	ADJ
fbem-14873	80	37	countries	country	NOUN
fbem-14873	80	38	.	.	PUNCT
fbem-14873	81	1	this	this	DET
fbem-14873	81	2	phenomenon	phenomenon	NOUN
fbem-14873	81	3	may	may	AUX
fbem-14873	81	4	be	be	AUX
fbem-14873	81	5	related	relate	VERB
fbem-14873	81	6	to	to	ADP
fbem-14873	81	7	the	the	DET
fbem-14873	81	8	prevalence	prevalence	NOUN
fbem-14873	81	9	of	of	ADP
fbem-14873	81	10	majority	majority	NOUN
fbem-14873	81	11	shareholders	shareholder	NOUN
fbem-14873	81	12	in	in	ADP
fbem-14873	81	13	chinese	chinese	ADJ
fbem-14873	81	14	companies	company	NOUN
fbem-14873	81	15	.	.	PUNCT
fbem-14873	82	1	previous	previous	ADJ
fbem-14873	82	2	studies	study	NOUN
fbem-14873	82	3	have	have	AUX
fbem-14873	82	4	found	find	VERB
fbem-14873	82	5	that	that	SCONJ
fbem-14873	82	6	the	the	PRON
fbem-14873	82	7	higher	high	ADJ
fbem-14873	82	8	the	the	DET
fbem-14873	82	9	shareholding	shareholding	NOUN
fbem-14873	82	10	of	of	ADP
fbem-14873	82	11	majority	majority	NOUN
fbem-14873	82	12	shareholders	shareholder	NOUN
fbem-14873	82	13	,	,	PUNCT
fbem-14873	82	14	the	the	DET
fbem-14873	82	15	more	more	ADJ
fbem-14873	82	16	power	power	NOUN
fbem-14873	82	17	they	they	PRON
fbem-14873	82	18	have	have	VERB
fbem-14873	82	19	,	,	PUNCT
fbem-14873	82	20	and	and	CCONJ
fbem-14873	82	21	the	the	PRON
fbem-14873	82	22	stronger	strong	ADJ
fbem-14873	82	23	the	the	DET
fbem-14873	82	24	supervision	supervision	NOUN
fbem-14873	82	25	of	of	ADP
fbem-14873	82	26	management	management	NOUN
fbem-14873	82	27	,	,	PUNCT
fbem-14873	82	28	which	which	PRON
fbem-14873	82	29	can	can	AUX
fbem-14873	82	30	better	well	ADV
fbem-14873	82	31	inhibit	inhibit	VERB
fbem-14873	82	32	management	management	NOUN
fbem-14873	82	33	self	self	NOUN
fbem-14873	82	34	-	-	PUNCT
fbem-14873	82	35	interested	interested	ADJ
fbem-14873	82	36	behaviors	behavior	NOUN
fbem-14873	82	37	,	,	PUNCT
fbem-14873	82	38	so	so	SCONJ
fbem-14873	82	39	the	the	DET
fbem-14873	82	40	prevalence	prevalence	NOUN
fbem-14873	82	41	of	of	ADP
fbem-14873	82	42	majority	majority	NOUN
fbem-14873	82	43	shareholders	shareholder	NOUN
fbem-14873	82	44	in	in	ADP
fbem-14873	82	45	chinese	chinese	ADJ
fbem-14873	82	46	firms	firm	NOUN
fbem-14873	82	47	has	have	AUX
fbem-14873	82	48	led	lead	VERB
fbem-14873	82	49	to	to	ADP
fbem-14873	82	50	a	a	DET
fbem-14873	82	51	relatively	relatively	ADV
fbem-14873	82	52	low	low	ADJ
fbem-14873	82	53	proportion	proportion	NOUN
fbem-14873	82	54	of	of	ADP
fbem-14873	82	55	equity	equity	NOUN
fbem-14873	82	56	incentives	incentive	NOUN
fbem-14873	82	57	.	.	PUNCT
fbem-14873	83	1	in	in	ADP
fbem-14873	83	2	addition	addition	NOUN
fbem-14873	83	3	,	,	PUNCT
fbem-14873	83	4	many	many	ADJ
fbem-14873	83	5	executives	executive	NOUN
fbem-14873	83	6	in	in	ADP
fbem-14873	83	7	soes	soe	NOUN
fbem-14873	83	8	appointed	appoint	VERB
fbem-14873	83	9	and	and	CCONJ
fbem-14873	83	10	dismissed	dismiss	VERB
fbem-14873	83	11	by	by	ADP
fbem-14873	83	12	government	government	NOUN
fbem-14873	83	13	departments	department	NOUN
fbem-14873	83	14	,	,	PUNCT
fbem-14873	83	15	are	be	AUX
fbem-14873	83	16	politically	politically	ADV
fbem-14873	83	17	charged	charge	VERB
fbem-14873	83	18	,	,	PUNCT
fbem-14873	83	19	which	which	PRON
fbem-14873	83	20	dilutes	dilute	VERB
fbem-14873	83	21	the	the	DET
fbem-14873	83	22	preference	preference	NOUN
fbem-14873	83	23	for	for	ADP
fbem-14873	83	24	compensation	compensation	NOUN
fbem-14873	83	25	incentives	incentive	NOUN
fbem-14873	83	26	.	.	PUNCT
fbem-14873	84	1	moreover	moreover	ADV
fbem-14873	84	2	,	,	PUNCT
fbem-14873	84	3	equity	equity	NOUN
fbem-14873	84	4	incentives	incentive	NOUN
fbem-14873	84	5	in	in	ADP
fbem-14873	84	6	soes	soe	NOUN
fbem-14873	84	7	require	require	VERB
fbem-14873	84	8	the	the	DET
fbem-14873	84	9	approval	approval	NOUN
fbem-14873	84	10	of	of	ADP
fbem-14873	84	11	the	the	DET
fbem-14873	84	12	stateowned	stateowne	VERB
fbem-14873	84	13	assets	asset	NOUN
fbem-14873	84	14	supervision	supervision	PROPN
fbem-14873	84	15	and	and	CCONJ
fbem-14873	84	16	administration	administration	PROPN
fbem-14873	84	17	commission	commission	PROPN
fbem-14873	84	18	(	(	PUNCT
fbem-14873	84	19	sasac	sasac	NOUN
fbem-14873	84	20	)	)	PUNCT
fbem-14873	84	21	,	,	PUNCT
fbem-14873	84	22	which	which	PRON
fbem-14873	84	23	is	be	AUX
fbem-14873	84	24	a	a	DET
fbem-14873	84	25	relatively	relatively	ADV
fbem-14873	84	26	complicated	complicated	ADJ
fbem-14873	84	27	process	process	NOUN
fbem-14873	84	28	,	,	PUNCT
fbem-14873	84	29	and	and	CCONJ
fbem-14873	84	30	the	the	DET
fbem-14873	84	31	intensity	intensity	NOUN
fbem-14873	84	32	of	of	ADP
fbem-14873	84	33	equity	equity	NOUN
fbem-14873	84	34	incentives	incentive	NOUN
fbem-14873	84	35	is	be	AUX
fbem-14873	84	36	generally	generally	ADV
fbem-14873	84	37	relatively	relatively	ADV
fbem-14873	84	38	small	small	ADJ
fbem-14873	84	39	.	.	PUNCT
fbem-14873	85	1	the	the	DET
fbem-14873	85	2	majority	majority	NOUN
fbem-14873	85	3	of	of	ADP
fbem-14873	85	4	non	non	ADJ
fbem-14873	85	5	-	-	ADJ
fbem-14873	85	6	state	state	NOUN
fbem-14873	85	7	-	-	PUNCT
fbem-14873	85	8	owned	own	VERB
fbem-14873	85	9	enterprises	enterprise	NOUN
fbem-14873	85	10	are	be	AUX
fbem-14873	85	11	familyowned	familyowne	VERB
fbem-14873	85	12	enterprises	enterprise	NOUN
fbem-14873	85	13	,	,	PUNCT
fbem-14873	85	14	which	which	PRON
fbem-14873	85	15	are	be	AUX
fbem-14873	85	16	generally	generally	ADV
fbem-14873	85	17	managed	manage	VERB
fbem-14873	85	18	by	by	ADP
fbem-14873	85	19	family	family	NOUN
fbem-14873	85	20	members	member	NOUN
fbem-14873	85	21	,	,	PUNCT
fbem-14873	85	22	who	who	PRON
fbem-14873	85	23	generally	generally	ADV
fbem-14873	85	24	hold	hold	VERB
fbem-14873	85	25	equity	equity	NOUN
fbem-14873	85	26	in	in	ADP
fbem-14873	85	27	the	the	DET
fbem-14873	85	28	company	company	NOUN
fbem-14873	85	29	without	without	ADP
fbem-14873	85	30	additional	additional	ADJ
fbem-14873	85	31	equity	equity	NOUN
fbem-14873	85	32	incentives	incentive	NOUN
fbem-14873	85	33	.	.	PUNCT
fbem-14873	86	1	thus	thus	ADV
fbem-14873	86	2	,	,	PUNCT
fbem-14873	86	3	china	china	PROPN
fbem-14873	86	4	’s	’s	PART
fbem-14873	86	5	special	special	ADJ
fbem-14873	86	6	institutional	institutional	ADJ
fbem-14873	86	7	background	background	NOUN
fbem-14873	86	8	makes	make	VERB
fbem-14873	86	9	the	the	DET
fbem-14873	86	10	intensity	intensity	NOUN
fbem-14873	86	11	of	of	ADP
fbem-14873	86	12	equity	equity	NOUN
fbem-14873	86	13	incentives	incentive	NOUN
fbem-14873	86	14	relatively	relatively	ADV
fbem-14873	86	15	small	small	ADJ
fbem-14873	86	16	.	.	PUNCT
fbem-14873	87	1	5.3	5.3	NUM
fbem-14873	87	2	.	.	PUNCT
fbem-14873	87	3	coverage	coverage	NOUN
fbem-14873	87	4	of	of	ADP
fbem-14873	87	5	incentive	incentive	NOUN
fbem-14873	87	6	targets	target	NOUN
fbem-14873	87	7	equity	equity	NOUN
fbem-14873	87	8	incentive	incentive	NOUN
fbem-14873	87	9	targets	target	NOUN
fbem-14873	87	10	mainly	mainly	ADV
fbem-14873	87	11	include	include	VERB
fbem-14873	87	12	executives	executive	NOUN
fbem-14873	87	13	and	and	CCONJ
fbem-14873	87	14	employees	employee	NOUN
fbem-14873	87	15	.	.	PUNCT
fbem-14873	88	1	at	at	ADP
fbem-14873	88	2	present	present	ADJ
fbem-14873	88	3	,	,	PUNCT
fbem-14873	88	4	scholars	scholar	NOUN
fbem-14873	88	5	’	'	PUNCT
fbem-14873	88	6	research	research	NOUN
fbem-14873	88	7	on	on	ADP
fbem-14873	88	8	equity	equity	NOUN
fbem-14873	88	9	incentives	incentive	NOUN
fbem-14873	88	10	mainly	mainly	ADV
fbem-14873	88	11	focuses	focus	VERB
fbem-14873	88	12	on	on	ADP
fbem-14873	88	13	executives	executive	NOUN
fbem-14873	88	14	,	,	PUNCT
fbem-14873	88	15	and	and	CCONJ
fbem-14873	88	16	the	the	DET
fbem-14873	88	17	literature	literature	NOUN
fbem-14873	88	18	on	on	ADP
fbem-14873	88	19	employee	employee	NOUN
fbem-14873	88	20	equity	equity	NOUN
fbem-14873	88	21	incentives	incentive	NOUN
fbem-14873	88	22	is	be	AUX
fbem-14873	88	23	relatively	relatively	ADV
fbem-14873	88	24	small	small	ADJ
fbem-14873	88	25	.	.	PUNCT
fbem-14873	89	1	as	as	ADP
fbem-14873	89	2	for	for	ADP
fbem-14873	89	3	the	the	DET
fbem-14873	89	4	target	target	NOUN
fbem-14873	89	5	of	of	ADP
fbem-14873	89	6	equity	equity	NOUN
fbem-14873	89	7	incentives	incentive	NOUN
fbem-14873	89	8	,	,	PUNCT
fbem-14873	89	9	most	most	ADJ
fbem-14873	89	10	scholars	scholar	NOUN
fbem-14873	89	11	believe	believe	VERB
fbem-14873	89	12	that	that	SCONJ
fbem-14873	89	13	the	the	DET
fbem-14873	89	14	coverage	coverage	NOUN
fbem-14873	89	15	of	of	ADP
fbem-14873	89	16	the	the	DET
fbem-14873	89	17	target	target	NOUN
fbem-14873	89	18	of	of	ADP
fbem-14873	89	19	equity	equity	NOUN
fbem-14873	89	20	incentives	incentive	NOUN
fbem-14873	89	21	should	should	AUX
fbem-14873	89	22	be	be	AUX
fbem-14873	89	23	expanded	expand	VERB
fbem-14873	89	24	to	to	PART
fbem-14873	89	25	include	include	VERB
fbem-14873	89	26	as	as	ADP
fbem-14873	89	27	many	many	ADJ
fbem-14873	89	28	employees	employee	NOUN
fbem-14873	89	29	as	as	ADP
fbem-14873	89	30	possible	possible	ADJ
fbem-14873	89	31	in	in	ADP
fbem-14873	89	32	the	the	DET
fbem-14873	89	33	scope	scope	NOUN
fbem-14873	89	34	of	of	ADP
fbem-14873	89	35	equity	equity	NOUN
fbem-14873	89	36	incentives	incentive	NOUN
fbem-14873	89	37	,	,	PUNCT
fbem-14873	89	38	and	and	CCONJ
fbem-14873	89	39	at	at	ADP
fbem-14873	89	40	the	the	DET
fbem-14873	89	41	same	same	ADJ
fbem-14873	89	42	time	time	NOUN
fbem-14873	89	43	,	,	PUNCT
fbem-14873	89	44	emphasis	emphasis	NOUN
fbem-14873	89	45	should	should	AUX
fbem-14873	89	46	be	be	AUX
fbem-14873	89	47	placed	place	VERB
fbem-14873	89	48	on	on	ADP
fbem-14873	89	49	the	the	DET
fbem-14873	89	50	incentives	incentive	NOUN
fbem-14873	89	51	for	for	ADP
fbem-14873	89	52	core	core	ADJ
fbem-14873	89	53	employees	employee	NOUN
fbem-14873	89	54	.	.	PUNCT
fbem-14873	90	1	the	the	DET
fbem-14873	90	2	starting	starting	NOUN
fbem-14873	90	3	point	point	NOUN
fbem-14873	90	4	of	of	ADP
fbem-14873	90	5	this	this	DET
fbem-14873	90	6	conclusion	conclusion	NOUN
fbem-14873	90	7	is	be	AUX
fbem-14873	90	8	mainly	mainly	ADV
fbem-14873	90	9	based	base	VERB
fbem-14873	90	10	on	on	ADP
fbem-14873	90	11	the	the	DET
fbem-14873	90	12	agency	agency	NOUN
fbem-14873	90	13	theory	theory	NOUN
fbem-14873	90	14	and	and	CCONJ
fbem-14873	90	15	human	human	ADJ
fbem-14873	90	16	capital	capital	NOUN
fbem-14873	90	17	theory	theory	NOUN
fbem-14873	90	18	,	,	PUNCT
fbem-14873	90	19	and	and	CCONJ
fbem-14873	90	20	the	the	DET
fbem-14873	90	21	targets	target	NOUN
fbem-14873	90	22	of	of	ADP
fbem-14873	90	23	the	the	DET
fbem-14873	90	24	equity	equity	NOUN
fbem-14873	90	25	incentive	incentive	NOUN
fbem-14873	90	26	cover	cover	VERB
fbem-14873	90	27	all	all	DET
fbem-14873	90	28	165	165	NUM
fbem-14873	90	29	(	(	PUNCT
fbem-14873	90	30	executives	executive	NOUN
fbem-14873	90	31	and	and	CCONJ
fbem-14873	90	32	employees	employee	NOUN
fbem-14873	90	33	)	)	PUNCT
fbem-14873	90	34	,	,	PUNCT
fbem-14873	90	35	which	which	PRON
fbem-14873	90	36	not	not	PART
fbem-14873	90	37	only	only	ADV
fbem-14873	90	38	can	can	AUX
fbem-14873	90	39	alleviate	alleviate	VERB
fbem-14873	90	40	the	the	DET
fbem-14873	90	41	agency	agency	NOUN
fbem-14873	90	42	problem	problem	NOUN
fbem-14873	90	43	between	between	ADP
fbem-14873	90	44	shareholders	shareholder	NOUN
fbem-14873	90	45	and	and	CCONJ
fbem-14873	90	46	executives	executive	NOUN
fbem-14873	90	47	and	and	CCONJ
fbem-14873	90	48	achieve	achieve	VERB
fbem-14873	90	49	convergence	convergence	NOUN
fbem-14873	90	50	of	of	ADP
fbem-14873	90	51	interests	interest	NOUN
fbem-14873	90	52	between	between	ADP
fbem-14873	90	53	shareholders	shareholder	NOUN
fbem-14873	90	54	and	and	CCONJ
fbem-14873	90	55	executives	executive	NOUN
fbem-14873	90	56	,	,	PUNCT
fbem-14873	90	57	but	but	CCONJ
fbem-14873	90	58	also	also	ADV
fbem-14873	90	59	bind	bind	VERB
fbem-14873	90	60	the	the	DET
fbem-14873	90	61	interests	interest	NOUN
fbem-14873	90	62	of	of	ADP
fbem-14873	90	63	shareholders	shareholder	NOUN
fbem-14873	90	64	and	and	CCONJ
fbem-14873	90	65	employees	employee	NOUN
fbem-14873	90	66	,	,	PUNCT
fbem-14873	90	67	so	so	SCONJ
fbem-14873	90	68	that	that	SCONJ
fbem-14873	90	69	the	the	DET
fbem-14873	90	70	interests	interest	NOUN
fbem-14873	90	71	of	of	ADP
fbem-14873	90	72	shareholders	shareholder	NOUN
fbem-14873	90	73	,	,	PUNCT
fbem-14873	90	74	executives	executive	NOUN
fbem-14873	90	75	and	and	CCONJ
fbem-14873	90	76	employees	employee	NOUN
fbem-14873	90	77	are	be	AUX
fbem-14873	90	78	aligned	align	VERB
fbem-14873	90	79	to	to	PART
fbem-14873	90	80	maximize	maximize	VERB
fbem-14873	90	81	the	the	DET
fbem-14873	90	82	incentive	incentive	NOUN
fbem-14873	90	83	effect	effect	NOUN
fbem-14873	90	84	of	of	ADP
fbem-14873	90	85	human	human	ADJ
fbem-14873	90	86	capital	capital	NOUN
fbem-14873	90	87	,	,	PUNCT
fbem-14873	90	88	and	and	CCONJ
fbem-14873	90	89	jointly	jointly	ADV
fbem-14873	90	90	maximize	maximize	VERB
fbem-14873	90	91	the	the	DET
fbem-14873	90	92	corporate	corporate	ADJ
fbem-14873	90	93	value	value	NOUN
fbem-14873	90	94	.	.	PUNCT
fbem-14873	91	1	in	in	ADP
fbem-14873	91	2	practice	practice	NOUN
fbem-14873	91	3	,	,	PUNCT
fbem-14873	91	4	the	the	DET
fbem-14873	91	5	u.s	u.s	PROPN
fbem-14873	91	6	.	.	PROPN
fbem-14873	91	7	basically	basically	ADV
fbem-14873	91	8	follows	follow	VERB
fbem-14873	91	9	this	this	DET
fbem-14873	91	10	logic	logic	NOUN
fbem-14873	91	11	,	,	PUNCT
fbem-14873	91	12	and	and	CCONJ
fbem-14873	91	13	the	the	DET
fbem-14873	91	14	selection	selection	NOUN
fbem-14873	91	15	of	of	ADP
fbem-14873	91	16	incentive	incentive	NOUN
fbem-14873	91	17	targets	target	NOUN
fbem-14873	91	18	is	be	AUX
fbem-14873	91	19	relatively	relatively	ADV
fbem-14873	91	20	broader	broad	ADJ
fbem-14873	91	21	.	.	PUNCT
fbem-14873	92	1	in	in	ADP
fbem-14873	92	2	addition	addition	NOUN
fbem-14873	92	3	to	to	ADP
fbem-14873	92	4	the	the	DET
fbem-14873	92	5	company	company	NOUN
fbem-14873	92	6	’s	’s	PART
fbem-14873	92	7	management	management	NOUN
fbem-14873	92	8	and	and	CCONJ
fbem-14873	92	9	core	core	NOUN
fbem-14873	92	10	employees	employee	NOUN
fbem-14873	92	11	,	,	PUNCT
fbem-14873	92	12	but	but	CCONJ
fbem-14873	92	13	also	also	ADV
fbem-14873	92	14	it	it	PRON
fbem-14873	92	15	includes	include	VERB
fbem-14873	92	16	ordinary	ordinary	ADJ
fbem-14873	92	17	employees	employee	NOUN
fbem-14873	92	18	,	,	PUNCT
fbem-14873	92	19	in	in	ADP
fbem-14873	92	20	order	order	NOUN
fbem-14873	92	21	to	to	PART
fbem-14873	92	22	maximize	maximize	VERB
fbem-14873	92	23	the	the	DET
fbem-14873	92	24	needs	need	NOUN
fbem-14873	92	25	of	of	ADP
fbem-14873	92	26	employees	employee	NOUN
fbem-14873	92	27	(	(	PUNCT
fbem-14873	92	28	wang	wang	PROPN
fbem-14873	92	29	bin	bin	PROPN
fbem-14873	92	30	and	and	CCONJ
fbem-14873	92	31	li	li	PROPN
fbem-14873	92	32	min	min	PROPN
fbem-14873	92	33	,	,	PUNCT
fbem-14873	92	34	2021	2021	NUM
fbem-14873	92	35	)	)	PUNCT
fbem-14873	92	36	.	.	PUNCT
fbem-14873	93	1	however	however	ADV
fbem-14873	93	2	,	,	PUNCT
fbem-14873	93	3	in	in	ADP
fbem-14873	93	4	terms	term	NOUN
fbem-14873	93	5	of	of	ADP
fbem-14873	93	6	coverage	coverage	NOUN
fbem-14873	93	7	,	,	PUNCT
fbem-14873	93	8	most	most	ADJ
fbem-14873	93	9	of	of	ADP
fbem-14873	93	10	the	the	DET
fbem-14873	93	11	listed	list	VERB
fbem-14873	93	12	companies	company	NOUN
fbem-14873	93	13	in	in	ADP
fbem-14873	93	14	china	china	PROPN
fbem-14873	93	15	that	that	PRON
fbem-14873	93	16	have	have	AUX
fbem-14873	93	17	implemented	implement	VERB
fbem-14873	93	18	equity	equity	NOUN
fbem-14873	93	19	incentives	incentive	NOUN
fbem-14873	93	20	in	in	ADP
fbem-14873	93	21	practice	practice	NOUN
fbem-14873	93	22	only	only	ADV
fbem-14873	93	23	include	include	VERB
fbem-14873	93	24	the	the	DET
fbem-14873	93	25	management	management	NOUN
fbem-14873	93	26	and	and	CCONJ
fbem-14873	93	27	some	some	DET
fbem-14873	93	28	core	core	ADJ
fbem-14873	93	29	employees	employee	NOUN
fbem-14873	93	30	,	,	PUNCT
fbem-14873	93	31	and	and	CCONJ
fbem-14873	93	32	do	do	AUX
fbem-14873	93	33	not	not	PART
fbem-14873	93	34	cover	cover	VERB
fbem-14873	93	35	all	all	DET
fbem-14873	93	36	employees	employee	NOUN
fbem-14873	93	37	.	.	PUNCT
fbem-14873	94	1	in	in	ADP
fbem-14873	94	2	addition	addition	NOUN
fbem-14873	94	3	to	to	ADP
fbem-14873	94	4	the	the	DET
fbem-14873	94	5	existence	existence	NOUN
fbem-14873	94	6	of	of	ADP
fbem-14873	94	7	executive	executive	ADJ
fbem-14873	94	8	self	self	NOUN
fbem-14873	94	9	-	-	PUNCT
fbem-14873	94	10	interest	interest	NOUN
fbem-14873	94	11	factors	factor	NOUN
fbem-14873	94	12	,	,	PUNCT
fbem-14873	94	13	the	the	DET
fbem-14873	94	14	deeper	deep	ADJ
fbem-14873	94	15	level	level	NOUN
fbem-14873	94	16	is	be	AUX
fbem-14873	94	17	the	the	DET
fbem-14873	94	18	lack	lack	NOUN
fbem-14873	94	19	of	of	ADP
fbem-14873	94	20	corporate	corporate	ADJ
fbem-14873	94	21	trust	trust	NOUN
fbem-14873	94	22	culture	culture	NOUN
fbem-14873	94	23	(	(	PUNCT
fbem-14873	94	24	wang	wang	PROPN
fbem-14873	94	25	,	,	PUNCT
fbem-14873	94	26	bin	bin	PROPN
fbem-14873	94	27	and	and	CCONJ
fbem-14873	94	28	li	li	PROPN
fbem-14873	94	29	,	,	PUNCT
fbem-14873	94	30	min	min	PROPN
fbem-14873	94	31	,	,	PUNCT
fbem-14873	94	32	2021	2021	NUM
fbem-14873	94	33	)	)	PUNCT
fbem-14873	94	34	,	,	PUNCT
fbem-14873	94	35	which	which	PRON
fbem-14873	94	36	is	be	AUX
fbem-14873	94	37	also	also	ADV
fbem-14873	94	38	the	the	DET
fbem-14873	94	39	root	root	NOUN
fbem-14873	94	40	of	of	ADP
fbem-14873	94	41	the	the	DET
fbem-14873	94	42	agency	agency	NOUN
fbem-14873	94	43	problem	problem	NOUN
fbem-14873	94	44	.	.	PUNCT
fbem-14873	95	1	since	since	SCONJ
fbem-14873	95	2	it	it	PRON
fbem-14873	95	3	is	be	AUX
fbem-14873	95	4	difficult	difficult	ADJ
fbem-14873	95	5	for	for	ADP
fbem-14873	95	6	shareholders	shareholder	NOUN
fbem-14873	95	7	and	and	CCONJ
fbem-14873	95	8	managers	manager	NOUN
fbem-14873	95	9	,	,	PUNCT
fbem-14873	95	10	managers	manager	NOUN
fbem-14873	95	11	and	and	CCONJ
fbem-14873	95	12	employees	employee	NOUN
fbem-14873	95	13	,	,	PUNCT
fbem-14873	95	14	as	as	ADV
fbem-14873	95	15	well	well	ADV
fbem-14873	95	16	as	as	ADP
fbem-14873	95	17	shareholders	shareholder	NOUN
fbem-14873	95	18	and	and	CCONJ
fbem-14873	95	19	employees	employee	NOUN
fbem-14873	95	20	to	to	PART
fbem-14873	95	21	trust	trust	VERB
fbem-14873	95	22	each	each	DET
fbem-14873	95	23	other	other	ADJ
fbem-14873	95	24	,	,	PUNCT
fbem-14873	95	25	shareholders	shareholder	NOUN
fbem-14873	95	26	and	and	CCONJ
fbem-14873	95	27	the	the	DET
fbem-14873	95	28	management	management	NOUN
fbem-14873	95	29	layer	layer	NOUN
fbem-14873	95	30	are	be	AUX
fbem-14873	95	31	doubtful	doubtful	ADJ
fbem-14873	95	32	whether	whether	SCONJ
fbem-14873	95	33	employees	employee	NOUN
fbem-14873	95	34	will	will	AUX
fbem-14873	95	35	work	work	VERB
fbem-14873	95	36	harder	hard	ADV
fbem-14873	95	37	to	to	PART
fbem-14873	95	38	create	create	VERB
fbem-14873	95	39	more	more	ADJ
fbem-14873	95	40	value	value	NOUN
fbem-14873	95	41	for	for	ADP
fbem-14873	95	42	the	the	DET
fbem-14873	95	43	enterprise	enterprise	NOUN
fbem-14873	95	44	after	after	SCONJ
fbem-14873	95	45	they	they	PRON
fbem-14873	95	46	hold	hold	VERB
fbem-14873	95	47	shares	share	NOUN
fbem-14873	95	48	,	,	PUNCT
fbem-14873	95	49	and	and	CCONJ
fbem-14873	95	50	how	how	SCONJ
fbem-14873	95	51	to	to	PART
fbem-14873	95	52	improve	improve	VERB
fbem-14873	95	53	the	the	DET
fbem-14873	95	54	trust	trust	NOUN
fbem-14873	95	55	between	between	ADP
fbem-14873	95	56	shareholders	shareholder	NOUN
fbem-14873	95	57	,	,	PUNCT
fbem-14873	95	58	management	management	NOUN
fbem-14873	95	59	and	and	CCONJ
fbem-14873	95	60	employees	employee	NOUN
fbem-14873	95	61	is	be	AUX
fbem-14873	95	62	also	also	ADV
fbem-14873	95	63	the	the	DET
fbem-14873	95	64	difficulty	difficulty	NOUN
fbem-14873	95	65	of	of	ADP
fbem-14873	95	66	full	full	ADJ
fbem-14873	95	67	coverage	coverage	NOUN
fbem-14873	95	68	of	of	ADP
fbem-14873	95	69	equity	equity	NOUN
fbem-14873	95	70	incentives	incentive	NOUN
fbem-14873	95	71	.	.	PUNCT
fbem-14873	96	1	5.4	5.4	NUM
fbem-14873	96	2	.	.	PUNCT
fbem-14873	96	3	choice	choice	NOUN
fbem-14873	96	4	of	of	ADP
fbem-14873	96	5	equity	equity	NOUN
fbem-14873	96	6	incentive	incentive	NOUN
fbem-14873	96	7	model	model	NOUN
fbem-14873	96	8	the	the	DET
fbem-14873	96	9	research	research	NOUN
fbem-14873	96	10	literature	literature	NOUN
fbem-14873	96	11	on	on	ADP
fbem-14873	96	12	equity	equity	NOUN
fbem-14873	96	13	incentive	incentive	NOUN
fbem-14873	96	14	model	model	NOUN
fbem-14873	96	15	basically	basically	ADV
fbem-14873	96	16	confirms	confirm	VERB
fbem-14873	96	17	that	that	SCONJ
fbem-14873	96	18	restricted	restrict	VERB
fbem-14873	96	19	share	share	NOUN
fbem-14873	96	20	is	be	AUX
fbem-14873	96	21	a	a	DET
fbem-14873	96	22	kind	kind	NOUN
fbem-14873	96	23	of	of	ADP
fbem-14873	96	24	“	"	PUNCT
fbem-14873	96	25	welfare	welfare	NOUN
fbem-14873	96	26	”	"	PUNCT
fbem-14873	96	27	incentive	incentive	NOUN
fbem-14873	96	28	with	with	ADP
fbem-14873	96	29	a	a	DET
fbem-14873	96	30	large	large	ADJ
fbem-14873	96	31	profit	profit	NOUN
fbem-14873	96	32	margin	margin	NOUN
fbem-14873	96	33	(	(	PUNCT
fbem-14873	96	34	xiao	xiao	PROPN
fbem-14873	96	35	shufang	shufang	PROPN
fbem-14873	96	36	et	et	PROPN
fbem-14873	96	37	al	al	PROPN
fbem-14873	96	38	.	.	PROPN
fbem-14873	96	39	,	,	PUNCT
fbem-14873	96	40	2016	2016	NUM
fbem-14873	96	41	;	;	PUNCT
fbem-14873	96	42	chen	chen	PROPN
fbem-14873	96	43	wenzhe	wenzhe	PROPN
fbem-14873	96	44	et	et	PROPN
fbem-14873	96	45	al	al	PROPN
fbem-14873	96	46	.	.	PROPN
fbem-14873	96	47	,	,	PUNCT
fbem-14873	96	48	2021	2021	NUM
fbem-14873	96	49	)	)	PUNCT
fbem-14873	96	50	.	.	PUNCT
fbem-14873	97	1	compared	compare	VERB
fbem-14873	97	2	with	with	ADP
fbem-14873	97	3	restricted	restricted	ADJ
fbem-14873	97	4	shares	share	NOUN
fbem-14873	97	5	,	,	PUNCT
fbem-14873	97	6	stock	stock	NOUN
fbem-14873	97	7	options	option	NOUN
fbem-14873	97	8	can	can	AUX
fbem-14873	97	9	improve	improve	VERB
fbem-14873	97	10	the	the	DET
fbem-14873	97	11	innovation	innovation	NOUN
fbem-14873	97	12	ability	ability	NOUN
fbem-14873	97	13	,	,	PUNCT
fbem-14873	97	14	risk	risk	NOUN
fbem-14873	97	15	-	-	PUNCT
fbem-14873	97	16	taking	take	VERB
fbem-14873	97	17	level	level	NOUN
fbem-14873	97	18	,	,	PUNCT
fbem-14873	97	19	and	and	CCONJ
fbem-14873	97	20	corporate	corporate	ADJ
fbem-14873	97	21	value	value	NOUN
fbem-14873	97	22	,	,	PUNCT
fbem-14873	97	23	and	and	CCONJ
fbem-14873	97	24	show	show	VERB
fbem-14873	97	25	better	well	ADJ
fbem-14873	97	26	incentive	incentive	NOUN
fbem-14873	97	27	effects	effect	NOUN
fbem-14873	97	28	(	(	PUNCT
fbem-14873	97	29	lambert	lambert	PROPN
fbem-14873	97	30	and	and	CCONJ
fbem-14873	97	31	larcker	larcker	NOUN
fbem-14873	97	32	,	,	PUNCT
fbem-14873	97	33	2004	2004	NUM
fbem-14873	97	34	;	;	PUNCT
fbem-14873	97	35	kadan	kadan	PROPN
fbem-14873	97	36	and	and	CCONJ
fbem-14873	97	37	swinkels	swinkel	NOUN
fbem-14873	97	38	,	,	PUNCT
fbem-14873	97	39	2008	2008	NUM
fbem-14873	97	40	;	;	PUNCT
fbem-14873	97	41	jiang	jiang	PROPN
fbem-14873	97	42	yingbing	yingbe	VERB
fbem-14873	97	43	,	,	PUNCT
fbem-14873	97	44	and	and	CCONJ
fbem-14873	97	45	yu	yu	PROPN
fbem-14873	97	46	yaping	yaping	PROPN
fbem-14873	97	47	,	,	PUNCT
fbem-14873	97	48	2017	2017	NUM
fbem-14873	97	49	;	;	PUNCT
fbem-14873	97	50	jiang	jiang	PROPN
fbem-14873	97	51	yingbing	yingbe	VERB
fbem-14873	97	52	,	,	PUNCT
fbem-14873	97	53	and	and	CCONJ
fbem-14873	97	54	shi	shi	PROPN
fbem-14873	97	55	yiran	yiran	PROPN
fbem-14873	97	56	,	,	PUNCT
fbem-14873	97	57	2018	2018	NUM
fbem-14873	97	58	;	;	PUNCT
fbem-14873	97	59	xu	xu	PROPN
fbem-14873	97	60	juanjuan	juanjuan	PROPN
fbem-14873	97	61	,	,	PUNCT
fbem-14873	97	62	and	and	CCONJ
fbem-14873	97	63	chen	chen	PROPN
fbem-14873	97	64	zhiyang	zhiyang	PROPN
fbem-14873	97	65	,	,	PUNCT
fbem-14873	97	66	2019	2019	NUM
fbem-14873	97	67	;	;	PUNCT
fbem-14873	97	68	chen	chen	PROPN
fbem-14873	97	69	wenzhe	wenzhe	PROPN
fbem-14873	97	70	,	,	PUNCT
fbem-14873	97	71	et	et	PROPN
fbem-14873	97	72	al	al	PROPN
fbem-14873	97	73	.	.	PUNCT
fbem-14873	98	1	(	(	PUNCT
fbem-14873	98	2	et	et	PROPN
fbem-14873	98	3	al	al	PROPN
fbem-14873	98	4	.	.	PROPN
fbem-14873	98	5	,	,	PUNCT
fbem-14873	98	6	2021	2021	NUM
fbem-14873	98	7	)	)	PUNCT
fbem-14873	98	8	.	.	PUNCT
fbem-14873	99	1	nowadays	nowadays	ADV
fbem-14873	99	2	,	,	PUNCT
fbem-14873	99	3	restricted	restrict	VERB
fbem-14873	99	4	shares	share	NOUN
fbem-14873	99	5	have	have	AUX
fbem-14873	99	6	become	become	VERB
fbem-14873	99	7	the	the	DET
fbem-14873	99	8	mainstream	mainstream	ADJ
fbem-14873	99	9	mode	mode	NOUN
fbem-14873	99	10	of	of	ADP
fbem-14873	99	11	equity	equity	NOUN
fbem-14873	99	12	incentives	incentive	NOUN
fbem-14873	99	13	for	for	ADP
fbem-14873	99	14	chinese	chinese	ADJ
fbem-14873	99	15	listed	list	VERB
fbem-14873	99	16	companies	company	NOUN
fbem-14873	99	17	.	.	PUNCT
fbem-14873	100	1	the	the	DET
fbem-14873	100	2	reasons	reason	NOUN
fbem-14873	100	3	why	why	SCONJ
fbem-14873	100	4	most	most	ADJ
fbem-14873	100	5	of	of	ADP
fbem-14873	100	6	the	the	DET
fbem-14873	100	7	listed	list	VERB
fbem-14873	100	8	companies	company	NOUN
fbem-14873	100	9	in	in	ADP
fbem-14873	100	10	china	china	PROPN
fbem-14873	100	11	tend	tend	VERB
fbem-14873	100	12	to	to	PART
fbem-14873	100	13	choose	choose	VERB
fbem-14873	100	14	restricted	restricted	ADJ
fbem-14873	100	15	shares	share	NOUN
fbem-14873	100	16	are	be	AUX
fbem-14873	100	17	listed	list	VERB
fbem-14873	100	18	as	as	SCONJ
fbem-14873	100	19	follows	follow	VERB
fbem-14873	100	20	.	.	PUNCT
fbem-14873	101	1	first	first	ADV
fbem-14873	101	2	,	,	PUNCT
fbem-14873	101	3	the	the	DET
fbem-14873	101	4	listed	list	VERB
fbem-14873	101	5	companies	company	NOUN
fbem-14873	101	6	do	do	AUX
fbem-14873	101	7	not	not	PART
fbem-14873	101	8	formulate	formulate	VERB
fbem-14873	101	9	equity	equity	NOUN
fbem-14873	101	10	incentive	incentive	NOUN
fbem-14873	101	11	plans	plan	NOUN
fbem-14873	101	12	entirely	entirely	ADV
fbem-14873	101	13	from	from	ADP
fbem-14873	101	14	the	the	DET
fbem-14873	101	15	perspective	perspective	NOUN
fbem-14873	101	16	of	of	ADP
fbem-14873	101	17	maximizing	maximize	VERB
fbem-14873	101	18	the	the	DET
fbem-14873	101	19	corporate	corporate	ADJ
fbem-14873	101	20	value	value	NOUN
fbem-14873	101	21	.	.	PUNCT
fbem-14873	102	1	although	although	SCONJ
fbem-14873	102	2	from	from	ADP
fbem-14873	102	3	the	the	DET
fbem-14873	102	4	perspective	perspective	NOUN
fbem-14873	102	5	of	of	ADP
fbem-14873	102	6	shareholders	shareholder	NOUN
fbem-14873	102	7	,	,	PUNCT
fbem-14873	102	8	stock	stock	NOUN
fbem-14873	102	9	options	option	NOUN
fbem-14873	102	10	require	require	VERB
fbem-14873	102	11	incentive	incentive	NOUN
fbem-14873	102	12	recipients	recipient	NOUN
fbem-14873	102	13	to	to	PART
fbem-14873	102	14	have	have	VERB
fbem-14873	102	15	higher	high	ADJ
fbem-14873	102	16	risk	risk	NOUN
fbem-14873	102	17	-	-	PUNCT
fbem-14873	102	18	bearing	bear	VERB
fbem-14873	102	19	ability	ability	NOUN
fbem-14873	102	20	,	,	PUNCT
fbem-14873	102	21	which	which	PRON
fbem-14873	102	22	can	can	AUX
fbem-14873	102	23	better	well	ADV
fbem-14873	102	24	promote	promote	VERB
fbem-14873	102	25	corporate	corporate	ADJ
fbem-14873	102	26	innovation	innovation	NOUN
fbem-14873	102	27	and	and	CCONJ
fbem-14873	102	28	thus	thus	ADV
fbem-14873	102	29	maximize	maximize	VERB
fbem-14873	102	30	enterprise	enterprise	NOUN
fbem-14873	102	31	value	value	NOUN
fbem-14873	102	32	(	(	PUNCT
fbem-14873	102	33	chen	chen	PROPN
fbem-14873	102	34	et	et	PROPN
fbem-14873	102	35	al	al	PROPN
fbem-14873	102	36	.	.	PROPN
fbem-14873	102	37	,	,	PUNCT
fbem-14873	102	38	2021	2021	NUM
fbem-14873	102	39	)	)	PUNCT
fbem-14873	102	40	.	.	PUNCT
fbem-14873	103	1	however	however	ADV
fbem-14873	103	2	,	,	PUNCT
fbem-14873	103	3	from	from	ADP
fbem-14873	103	4	the	the	DET
fbem-14873	103	5	perspective	perspective	NOUN
fbem-14873	103	6	of	of	ADP
fbem-14873	103	7	the	the	DET
fbem-14873	103	8	management	management	NOUN
fbem-14873	103	9	as	as	ADP
fbem-14873	103	10	the	the	DET
fbem-14873	103	11	incentive	incentive	NOUN
fbem-14873	103	12	targets	target	NOUN
fbem-14873	103	13	,	,	PUNCT
fbem-14873	103	14	restricted	restrict	VERB
fbem-14873	103	15	shares	share	NOUN
fbem-14873	103	16	are	be	AUX
fbem-14873	103	17	relatively	relatively	ADV
fbem-14873	103	18	less	less	ADV
fbem-14873	103	19	costly	costly	ADJ
fbem-14873	103	20	and	and	CCONJ
fbem-14873	103	21	are	be	AUX
fbem-14873	103	22	more	more	ADV
fbem-14873	103	23	convenient	convenient	ADJ
fbem-14873	103	24	for	for	ADP
fbem-14873	103	25	tax	tax	NOUN
fbem-14873	103	26	avoidance	avoidance	NOUN
fbem-14873	103	27	and	and	CCONJ
fbem-14873	103	28	dividend	dividend	NOUN
fbem-14873	103	29	protection	protection	NOUN
fbem-14873	103	30	(	(	PUNCT
fbem-14873	103	31	xiao	xiao	PROPN
fbem-14873	103	32	shufang	shufang	PROPN
fbem-14873	103	33	et	et	PROPN
fbem-14873	103	34	al	al	PROPN
fbem-14873	103	35	.	.	PROPN
fbem-14873	103	36	,	,	PUNCT
fbem-14873	103	37	2016	2016	NUM
fbem-14873	103	38	)	)	PUNCT
fbem-14873	103	39	.	.	PUNCT
fbem-14873	104	1	at	at	ADP
fbem-14873	104	2	the	the	DET
fbem-14873	104	3	same	same	ADJ
fbem-14873	104	4	time	time	NOUN
fbem-14873	104	5	,	,	PUNCT
fbem-14873	104	6	executives	executive	NOUN
fbem-14873	104	7	of	of	ADP
fbem-14873	104	8	chinese	chinese	ADJ
fbem-14873	104	9	listed	list	VERB
fbem-14873	104	10	companies	company	NOUN
fbem-14873	104	11	have	have	VERB
fbem-14873	104	12	greater	great	ADJ
fbem-14873	104	13	power	power	NOUN
fbem-14873	104	14	and	and	CCONJ
fbem-14873	104	15	are	be	AUX
fbem-14873	104	16	responsible	responsible	ADJ
fbem-14873	104	17	for	for	ADP
fbem-14873	104	18	the	the	DET
fbem-14873	104	19	design	design	NOUN
fbem-14873	104	20	and	and	CCONJ
fbem-14873	104	21	implementation	implementation	NOUN
fbem-14873	104	22	of	of	ADP
fbem-14873	104	23	equity	equity	NOUN
fbem-14873	104	24	incentive	incentive	NOUN
fbem-14873	104	25	programs	program	NOUN
fbem-14873	104	26	.	.	PUNCT
fbem-14873	105	1	therefore	therefore	ADV
fbem-14873	105	2	,	,	PUNCT
fbem-14873	105	3	from	from	ADP
fbem-14873	105	4	the	the	DET
fbem-14873	105	5	viewpoint	viewpoint	NOUN
fbem-14873	105	6	of	of	ADP
fbem-14873	105	7	management	management	NOUN
fbem-14873	105	8	power	power	NOUN
fbem-14873	105	9	,	,	PUNCT
fbem-14873	105	10	as	as	ADP
fbem-14873	105	11	the	the	DET
fbem-14873	105	12	designers	designer	NOUN
fbem-14873	105	13	of	of	ADP
fbem-14873	105	14	equity	equity	NOUN
fbem-14873	105	15	incentive	incentive	NOUN
fbem-14873	105	16	programs	program	NOUN
fbem-14873	105	17	for	for	ADP
fbem-14873	105	18	listed	list	VERB
fbem-14873	105	19	companies	company	NOUN
fbem-14873	105	20	,	,	PUNCT
fbem-14873	105	21	executives	executive	NOUN
fbem-14873	105	22	tend	tend	VERB
fbem-14873	105	23	to	to	PART
fbem-14873	105	24	choose	choose	VERB
fbem-14873	105	25	restricted	restricted	ADJ
fbem-14873	105	26	shares	share	NOUN
fbem-14873	105	27	that	that	PRON
fbem-14873	105	28	are	be	AUX
fbem-14873	105	29	more	more	ADV
fbem-14873	105	30	favorable	favorable	ADJ
fbem-14873	105	31	to	to	ADP
fbem-14873	105	32	their	their	PRON
fbem-14873	105	33	own	own	ADJ
fbem-14873	105	34	interests	interest	NOUN
fbem-14873	105	35	when	when	SCONJ
fbem-14873	105	36	setting	set	VERB
fbem-14873	105	37	up	up	ADP
fbem-14873	105	38	equity	equity	NOUN
fbem-14873	105	39	incentive	incentive	NOUN
fbem-14873	105	40	models	model	NOUN
fbem-14873	105	41	.	.	PUNCT
fbem-14873	106	1	secondly	secondly	ADV
fbem-14873	106	2	,	,	PUNCT
fbem-14873	106	3	stock	stock	NOUN
fbem-14873	106	4	options	option	NOUN
fbem-14873	106	5	are	be	AUX
fbem-14873	106	6	more	more	ADV
fbem-14873	106	7	closely	closely	ADV
fbem-14873	106	8	linked	link	VERB
fbem-14873	106	9	to	to	ADP
fbem-14873	106	10	the	the	DET
fbem-14873	106	11	company	company	NOUN
fbem-14873	106	12	’s	’s	PART
fbem-14873	106	13	stock	stock	NOUN
fbem-14873	106	14	price	price	NOUN
fbem-14873	106	15	information	information	NOUN
fbem-14873	106	16	,	,	PUNCT
fbem-14873	106	17	and	and	CCONJ
fbem-14873	106	18	an	an	DET
fbem-14873	106	19	effective	effective	ADJ
fbem-14873	106	20	capital	capital	NOUN
fbem-14873	106	21	market	market	NOUN
fbem-14873	106	22	is	be	AUX
fbem-14873	106	23	an	an	DET
fbem-14873	106	24	important	important	ADJ
fbem-14873	106	25	prerequisite	prerequisite	NOUN
fbem-14873	106	26	for	for	ADP
fbem-14873	106	27	stock	stock	NOUN
fbem-14873	106	28	option	option	NOUN
fbem-14873	106	29	incentives	incentive	NOUN
fbem-14873	106	30	to	to	PART
fbem-14873	106	31	be	be	AUX
fbem-14873	106	32	effective	effective	ADJ
fbem-14873	106	33	.	.	PUNCT
fbem-14873	107	1	compared	compare	VERB
fbem-14873	107	2	with	with	ADP
fbem-14873	107	3	mature	mature	ADJ
fbem-14873	107	4	capital	capital	NOUN
fbem-14873	107	5	markets	market	NOUN
fbem-14873	107	6	abroad	abroad	ADV
fbem-14873	107	7	,	,	PUNCT
fbem-14873	107	8	as	as	ADP
fbem-14873	107	9	an	an	DET
fbem-14873	107	10	emerging	emerge	VERB
fbem-14873	107	11	market	market	NOUN
fbem-14873	107	12	,	,	PUNCT
fbem-14873	107	13	china	china	PROPN
fbem-14873	107	14	’s	’s	PART
fbem-14873	107	15	capital	capital	NOUN
fbem-14873	107	16	market	market	NOUN
fbem-14873	107	17	mechanism	mechanism	NOUN
fbem-14873	107	18	has	have	VERB
fbem-14873	107	19	yet	yet	ADV
fbem-14873	107	20	to	to	PART
fbem-14873	107	21	be	be	AUX
fbem-14873	107	22	perfected	perfect	VERB
fbem-14873	107	23	,	,	PUNCT
fbem-14873	107	24	which	which	PRON
fbem-14873	107	25	leads	lead	VERB
fbem-14873	107	26	to	to	ADP
fbem-14873	107	27	stock	stock	NOUN
fbem-14873	107	28	option	option	NOUN
fbem-14873	107	29	incentives	incentive	NOUN
fbem-14873	107	30	being	be	AUX
fbem-14873	107	31	limited	limit	VERB
fbem-14873	107	32	in	in	ADP
fbem-14873	107	33	china	china	PROPN
fbem-14873	107	34	.	.	PUNCT
fbem-14873	108	1	moreover	moreover	ADV
fbem-14873	108	2	,	,	PUNCT
fbem-14873	108	3	given	give	VERB
fbem-14873	108	4	the	the	DET
fbem-14873	108	5	characteristics	characteristic	NOUN
fbem-14873	108	6	of	of	ADP
fbem-14873	108	7	performance	performance	NOUN
fbem-14873	108	8	-	-	PUNCT
fbem-14873	108	9	based	base	VERB
fbem-14873	108	10	equity	equity	NOUN
fbem-14873	108	11	incentives	incentive	NOUN
fbem-14873	108	12	in	in	ADP
fbem-14873	108	13	china	china	PROPN
fbem-14873	108	14	,	,	PUNCT
fbem-14873	108	15	the	the	DET
fbem-14873	108	16	sensitivity	sensitivity	NOUN
fbem-14873	108	17	between	between	ADP
fbem-14873	108	18	restricted	restricted	ADJ
fbem-14873	108	19	shares	share	NOUN
fbem-14873	108	20	and	and	CCONJ
fbem-14873	108	21	company	company	NOUN
fbem-14873	108	22	performance	performance	NOUN
fbem-14873	108	23	is	be	AUX
fbem-14873	108	24	higher	high	ADJ
fbem-14873	108	25	,	,	PUNCT
fbem-14873	108	26	which	which	PRON
fbem-14873	108	27	also	also	ADV
fbem-14873	108	28	determines	determine	VERB
fbem-14873	108	29	that	that	SCONJ
fbem-14873	108	30	the	the	DET
fbem-14873	108	31	current	current	ADJ
fbem-14873	108	32	market	market	NOUN
fbem-14873	108	33	environment	environment	NOUN
fbem-14873	108	34	in	in	ADP
fbem-14873	108	35	china	china	PROPN
fbem-14873	108	36	is	be	AUX
fbem-14873	108	37	more	more	ADV
fbem-14873	108	38	compatible	compatible	ADJ
fbem-14873	108	39	with	with	ADP
fbem-14873	108	40	restricted	restricted	ADJ
fbem-14873	108	41	shares	share	NOUN
fbem-14873	108	42	.	.	PUNCT
fbem-14873	109	1	5.5	5.5	NUM
fbem-14873	109	2	.	.	PUNCT
fbem-14873	109	3	terms	term	NOUN
fbem-14873	109	4	of	of	ADP
fbem-14873	109	5	exercise	exercise	NOUN
fbem-14873	109	6	of	of	ADP
fbem-14873	109	7	rights	right	NOUN
fbem-14873	109	8	in	in	ADP
fbem-14873	109	9	order	order	NOUN
fbem-14873	109	10	to	to	PART
fbem-14873	109	11	safeguard	safeguard	VERB
fbem-14873	109	12	the	the	DET
fbem-14873	109	13	effect	effect	NOUN
fbem-14873	109	14	of	of	ADP
fbem-14873	109	15	equity	equity	NOUN
fbem-14873	109	16	incentives	incentive	NOUN
fbem-14873	109	17	,	,	PUNCT
fbem-14873	109	18	the	the	DET
fbem-14873	109	19	west	west	NOUN
fbem-14873	109	20	,	,	PUNCT
fbem-14873	109	21	due	due	ADP
fbem-14873	109	22	to	to	ADP
fbem-14873	109	23	its	its	PRON
fbem-14873	109	24	market	market	NOUN
fbem-14873	109	25	effectiveness	effectiveness	NOUN
fbem-14873	109	26	,	,	PUNCT
fbem-14873	109	27	generally	generally	ADV
fbem-14873	109	28	uses	use	VERB
fbem-14873	109	29	share	share	NOUN
fbem-14873	109	30	price	price	NOUN
fbem-14873	109	31	as	as	ADP
fbem-14873	109	32	a	a	DET
fbem-14873	109	33	condition	condition	NOUN
fbem-14873	109	34	for	for	ADP
fbem-14873	109	35	the	the	DET
fbem-14873	109	36	exercise	exercise	NOUN
fbem-14873	109	37	of	of	ADP
fbem-14873	109	38	options	option	NOUN
fbem-14873	109	39	.	.	PUNCT
fbem-14873	110	1	however	however	ADV
fbem-14873	110	2	,	,	PUNCT
fbem-14873	110	3	unlike	unlike	ADP
fbem-14873	110	4	the	the	DET
fbem-14873	110	5	mature	mature	ADJ
fbem-14873	110	6	markets	market	NOUN
fbem-14873	110	7	in	in	ADP
fbem-14873	110	8	the	the	DET
fbem-14873	110	9	west	west	NOUN
fbem-14873	110	10	,	,	PUNCT
fbem-14873	110	11	which	which	PRON
fbem-14873	110	12	are	be	AUX
fbem-14873	110	13	dominated	dominate	VERB
fbem-14873	110	14	by	by	ADP
fbem-14873	110	15	institutional	institutional	ADJ
fbem-14873	110	16	investors	investor	NOUN
fbem-14873	110	17	,	,	PUNCT
fbem-14873	110	18	china	china	PROPN
fbem-14873	110	19	’s	’s	PART
fbem-14873	110	20	capital	capital	NOUN
fbem-14873	110	21	market	market	NOUN
fbem-14873	110	22	is	be	AUX
fbem-14873	110	23	dominated	dominate	VERB
fbem-14873	110	24	by	by	ADP
fbem-14873	110	25	small	small	ADJ
fbem-14873	110	26	shareholders	shareholder	NOUN
fbem-14873	110	27	,	,	PUNCT
fbem-14873	110	28	with	with	ADP
fbem-14873	110	29	a	a	DET
fbem-14873	110	30	relatively	relatively	ADV
fbem-14873	110	31	small	small	ADJ
fbem-14873	110	32	proportion	proportion	NOUN
fbem-14873	110	33	of	of	ADP
fbem-14873	110	34	mature	mature	ADJ
fbem-14873	110	35	institutional	institutional	ADJ
fbem-14873	110	36	investors	investor	NOUN
fbem-14873	110	37	,	,	PUNCT
fbem-14873	110	38	and	and	CCONJ
fbem-14873	110	39	the	the	DET
fbem-14873	110	40	market	market	NOUN
fbem-14873	110	41	is	be	AUX
fbem-14873	110	42	characterized	characterize	VERB
fbem-14873	110	43	by	by	ADP
fbem-14873	110	44	a	a	DET
fbem-14873	110	45	high	high	ADJ
fbem-14873	110	46	degree	degree	NOUN
fbem-14873	110	47	of	of	ADP
fbem-14873	110	48	speculative	speculative	ADJ
fbem-14873	110	49	behavior	behavior	NOUN
fbem-14873	110	50	.	.	PUNCT
fbem-14873	111	1	therefore	therefore	ADV
fbem-14873	111	2	,	,	PUNCT
fbem-14873	111	3	it	it	PRON
fbem-14873	111	4	is	be	AUX
fbem-14873	111	5	common	common	ADJ
fbem-14873	111	6	for	for	SCONJ
fbem-14873	111	7	companies	company	NOUN
fbem-14873	111	8	to	to	PART
fbem-14873	111	9	design	design	VERB
fbem-14873	111	10	the	the	DET
fbem-14873	111	11	exercise	exercise	NOUN
fbem-14873	111	12	conditions	condition	NOUN
fbem-14873	111	13	of	of	ADP
fbem-14873	111	14	equity	equity	NOUN
fbem-14873	111	15	incentives	incentive	NOUN
fbem-14873	111	16	to	to	PART
fbem-14873	111	17	be	be	AUX
fbem-14873	111	18	based	base	VERB
fbem-14873	111	19	on	on	ADP
fbem-14873	111	20	performance	performance	NOUN
fbem-14873	111	21	indicators	indicator	NOUN
fbem-14873	111	22	rather	rather	ADV
fbem-14873	111	23	than	than	ADP
fbem-14873	111	24	share	share	NOUN
fbem-14873	111	25	price	price	NOUN
fbem-14873	111	26	,	,	PUNCT
fbem-14873	111	27	which	which	PRON
fbem-14873	111	28	is	be	AUX
fbem-14873	111	29	why	why	SCONJ
fbem-14873	111	30	equity	equity	NOUN
fbem-14873	111	31	incentives	incentive	NOUN
fbem-14873	111	32	in	in	ADP
fbem-14873	111	33	china	china	PROPN
fbem-14873	111	34	are	be	AUX
fbem-14873	111	35	also	also	ADV
fbem-14873	111	36	called	call	VERB
fbem-14873	111	37	“	"	PUNCT
fbem-14873	111	38	performance	performance	NOUN
fbem-14873	111	39	-	-	PUNCT
fbem-14873	111	40	based	base	VERB
fbem-14873	111	41	equity	equity	NOUN
fbem-14873	111	42	incentives	incentive	NOUN
fbem-14873	111	43	”	"	PUNCT
fbem-14873	111	44	.	.	PUNCT
fbem-14873	112	1	6	6	X
fbem-14873	112	2	.	.	X
fbem-14873	112	3	summary	summary	NOUN
fbem-14873	112	4	equity	equity	NOUN
fbem-14873	112	5	incentives	incentive	NOUN
fbem-14873	112	6	have	have	AUX
fbem-14873	112	7	been	be	AUX
fbem-14873	112	8	widely	widely	ADV
fbem-14873	112	9	used	use	VERB
fbem-14873	112	10	and	and	CCONJ
fbem-14873	112	11	developed	develop	VERB
fbem-14873	112	12	in	in	ADP
fbem-14873	112	13	chinese	chinese	ADJ
fbem-14873	112	14	listed	list	VERB
fbem-14873	112	15	companies	company	NOUN
fbem-14873	112	16	after	after	ADP
fbem-14873	112	17	a	a	DET
fbem-14873	112	18	long	long	ADJ
fbem-14873	112	19	period	period	NOUN
fbem-14873	112	20	of	of	ADP
fbem-14873	112	21	practice	practice	NOUN
fbem-14873	112	22	,	,	PUNCT
fbem-14873	112	23	and	and	CCONJ
fbem-14873	112	24	there	there	PRON
fbem-14873	112	25	are	be	VERB
fbem-14873	112	26	many	many	ADJ
fbem-14873	112	27	academic	academic	ADJ
fbem-14873	112	28	literatures	literature	NOUN
fbem-14873	112	29	analyzing	analyze	VERB
fbem-14873	112	30	the	the	DET
fbem-14873	112	31	implementation	implementation	NOUN
fbem-14873	112	32	effects	effect	NOUN
fbem-14873	112	33	of	of	ADP
fbem-14873	112	34	equity	equity	NOUN
fbem-14873	112	35	incentives	incentive	NOUN
fbem-14873	112	36	from	from	ADP
fbem-14873	112	37	the	the	DET
fbem-14873	112	38	dimensions	dimension	NOUN
fbem-14873	112	39	of	of	ADP
fbem-14873	112	40	executives	executive	NOUN
fbem-14873	112	41	’	’	PART
fbem-14873	112	42	behavior	behavior	NOUN
fbem-14873	112	43	,	,	PUNCT
fbem-14873	112	44	company	company	NOUN
fbem-14873	112	45	’s	’s	PART
fbem-14873	112	46	financial	financial	ADJ
fbem-14873	112	47	behavior	behavior	NOUN
fbem-14873	112	48	,	,	PUNCT
fbem-14873	112	49	and	and	CCONJ
fbem-14873	112	50	accounting	accounting	NOUN
fbem-14873	112	51	policies	policy	NOUN
fbem-14873	112	52	.	.	PUNCT
fbem-14873	113	1	at	at	ADP
fbem-14873	113	2	the	the	DET
fbem-14873	113	3	same	same	ADJ
fbem-14873	113	4	time	time	NOUN
fbem-14873	113	5	,	,	PUNCT
fbem-14873	113	6	regarding	regard	VERB
fbem-14873	113	7	the	the	DET
fbem-14873	113	8	effects	effect	NOUN
fbem-14873	113	9	of	of	ADP
fbem-14873	113	10	equity	equity	NOUN
fbem-14873	113	11	incentives	incentive	NOUN
fbem-14873	113	12	,	,	PUNCT
fbem-14873	113	13	a	a	DET
fbem-14873	113	14	number	number	NOUN
fbem-14873	113	15	of	of	ADP
fbem-14873	113	16	scholars	scholar	NOUN
fbem-14873	113	17	at	at	ADP
fbem-14873	113	18	home	home	ADV
fbem-14873	113	19	and	and	CCONJ
fbem-14873	113	20	abroad	abroad	ADV
fbem-14873	113	21	have	have	AUX
fbem-14873	113	22	conducted	conduct	VERB
fbem-14873	113	23	research	research	NOUN
fbem-14873	113	24	on	on	ADP
fbem-14873	113	25	this	this	PRON
fbem-14873	113	26	,	,	PUNCT
fbem-14873	113	27	and	and	CCONJ
fbem-14873	113	28	the	the	DET
fbem-14873	113	29	conclusions	conclusion	NOUN
fbem-14873	113	30	of	of	ADP
fbem-14873	113	31	the	the	DET
fbem-14873	113	32	researchers	researcher	NOUN
fbem-14873	113	33	are	be	AUX
fbem-14873	113	34	different	different	ADJ
fbem-14873	113	35	.	.	PUNCT
fbem-14873	114	1	therefore	therefore	ADV
fbem-14873	114	2	,	,	PUNCT
fbem-14873	114	3	this	this	DET
fbem-14873	114	4	paper	paper	NOUN
fbem-14873	114	5	reviews	review	VERB
fbem-14873	114	6	the	the	DET
fbem-14873	114	7	existing	exist	VERB
fbem-14873	114	8	scholars	scholar	NOUN
fbem-14873	114	9	’	’	PART
fbem-14873	114	10	theories	theory	NOUN
fbem-14873	114	11	and	and	CCONJ
fbem-14873	114	12	research	research	NOUN
fbem-14873	114	13	results	result	NOUN
fbem-14873	114	14	,	,	PUNCT
fbem-14873	114	15	tries	try	VERB
fbem-14873	114	16	to	to	PART
fbem-14873	114	17	show	show	VERB
fbem-14873	114	18	the	the	DET
fbem-14873	114	19	whole	whole	ADJ
fbem-14873	114	20	picture	picture	NOUN
fbem-14873	114	21	of	of	ADP
fbem-14873	114	22	the	the	DET
fbem-14873	114	23	theory	theory	NOUN
fbem-14873	114	24	of	of	ADP
fbem-14873	114	25	equity	equity	NOUN
fbem-14873	114	26	incentives	incentive	NOUN
fbem-14873	114	27	for	for	ADP
fbem-14873	114	28	listed	list	VERB
fbem-14873	114	29	companies	company	NOUN
fbem-14873	114	30	in	in	ADP
fbem-14873	114	31	china	china	PROPN
fbem-14873	114	32	,	,	PUNCT
fbem-14873	114	33	discusses	discuss	VERB
fbem-14873	114	34	the	the	DET
fbem-14873	114	35	classification	classification	NOUN
fbem-14873	114	36	of	of	ADP
fbem-14873	114	37	the	the	DET
fbem-14873	114	38	theory	theory	NOUN
fbem-14873	114	39	of	of	ADP
fbem-14873	114	40	equity	equity	NOUN
fbem-14873	114	41	incentives	incentive	NOUN
fbem-14873	114	42	for	for	ADP
fbem-14873	114	43	listed	list	VERB
fbem-14873	114	44	companies	company	NOUN
fbem-14873	114	45	in	in	ADP
fbem-14873	114	46	china	china	PROPN
fbem-14873	114	47	and	and	CCONJ
fbem-14873	114	48	summarizes	summarize	VERB
fbem-14873	114	49	its	its	PRON
fbem-14873	114	50	characteristics	characteristic	NOUN
fbem-14873	114	51	,	,	PUNCT
fbem-14873	114	52	so	so	SCONJ
fbem-14873	114	53	as	as	SCONJ
fbem-14873	114	54	to	to	PART
fbem-14873	114	55	provide	provide	VERB
fbem-14873	114	56	reference	reference	NOUN
fbem-14873	114	57	for	for	ADP
fbem-14873	114	58	the	the	DET
fbem-14873	114	59	design	design	NOUN
fbem-14873	114	60	and	and	CCONJ
fbem-14873	114	61	implementation	implementation	NOUN
fbem-14873	114	62	of	of	ADP
fbem-14873	114	63	listed	list	VERB
fbem-14873	114	64	companies	company	NOUN
fbem-14873	114	65	’	’	PART
fbem-14873	114	66	equity	equity	NOUN
fbem-14873	114	67	incentive	incentive	NOUN
fbem-14873	114	68	programs	program	NOUN
fbem-14873	114	69	.	.	PUNCT
fbem-14873	115	1	references	reference	NOUN
fbem-14873	115	2	[	[	X
fbem-14873	115	3	1	1	NUM
fbem-14873	115	4	]	]	PUNCT
fbem-14873	115	5	chen	chen	PROPN
fbem-14873	115	6	wenqiang	wenqiang	PROPN
fbem-14873	115	7	.	.	PUNCT
fbem-14873	116	1	equity	equity	NOUN
fbem-14873	116	2	incentives	incentive	NOUN
fbem-14873	116	3	,	,	PUNCT
fbem-14873	116	4	contractual	contractual	ADJ
fbem-14873	116	5	heterogeneity	heterogeneity	NOUN
fbem-14873	116	6	and	and	CCONJ
fbem-14873	116	7	dynamic	dynamic	ADJ
fbem-14873	116	8	growth	growth	NOUN
fbem-14873	116	9	of	of	ADP
fbem-14873	116	10	corporate	corporate	ADJ
fbem-14873	116	11	performance	performance	NOUN
fbem-14873	117	1	[	[	X
fbem-14873	117	2	j	j	X
fbem-14873	117	3	]	]	X
fbem-14873	117	4	.	.	PUNCT
fbem-14873	118	1	economic	economic	ADJ
fbem-14873	118	2	management	management	NOUN
fbem-14873	118	3	,	,	PUNCT
fbem-14873	118	4	2018	2018	NUM
fbem-14873	118	5	,	,	PUNCT
fbem-14873	118	6	40(5	40(5	NUM
fbem-14873	118	7	):	):	PUNCT
fbem-14873	118	8	175	175	NUM
fbem-14873	118	9	-	-	SYM
fbem-14873	118	10	192	192	NUM
fbem-14873	118	11	.	.	PUNCT
fbem-14873	119	1	[	[	X
fbem-14873	119	2	2	2	X
fbem-14873	119	3	]	]	X
fbem-14873	119	4	huang	huang	PROPN
fbem-14873	119	5	qunhui	qunhui	PROPN
fbem-14873	119	6	,	,	PUNCT
fbem-14873	119	7	yu	yu	PROPN
fbem-14873	119	8	jing	jing	PROPN
fbem-14873	119	9	,	,	PUNCT
fbem-14873	119	10	wang	wang	PROPN
fbem-14873	119	11	xin	xin	PROPN
fbem-14873	119	12	,	,	PUNCT
fbem-14873	119	13	shao	shao	PROPN
fbem-14873	119	14	jingting	jingting	PROPN
fbem-14873	119	15	.	.	PUNCT
fbem-14873	120	1	research	research	NOUN
fbem-14873	120	2	on	on	ADP
fbem-14873	120	3	employee	employee	NOUN
fbem-14873	120	4	stock	stock	NOUN
fbem-14873	120	5	ownership	ownership	NOUN
fbem-14873	120	6	system	system	NOUN
fbem-14873	120	7	in	in	ADP
fbem-14873	120	8	china	china	PROPN
fbem-14873	120	9	in	in	ADP
fbem-14873	120	10	the	the	DET
fbem-14873	120	11	new	new	ADJ
fbem-14873	120	12	era	era	NOUN
fbem-14873	121	1	[	[	X
fbem-14873	121	2	j	j	X
fbem-14873	121	3	]	]	X
fbem-14873	121	4	.	.	PUNCT
fbem-14873	122	1	china	china	PROPN
fbem-14873	122	2	’s	’s	PART
fbem-14873	122	3	industrial	industrial	ADJ
fbem-14873	122	4	economy	economy	NOUN
fbem-14873	122	5	,	,	PUNCT
fbem-14873	122	6	2014	2014	NUM
fbem-14873	122	7	,	,	PUNCT
fbem-14873	122	8	(	(	PUNCT
fbem-14873	122	9	7	7	NUM
fbem-14873	122	10	):	):	PUNCT
fbem-14873	122	11	5	5	NUM
fbem-14873	122	12	-	-	SYM
fbem-14873	122	13	16	16	NUM
fbem-14873	122	14	.	.	PUNCT
fbem-14873	123	1	[	[	X
fbem-14873	123	2	3	3	X
fbem-14873	123	3	]	]	X
fbem-14873	123	4	huang	huang	PROPN
fbem-14873	123	5	xijian	xijian	PROPN
fbem-14873	123	6	,	,	PUNCT
fbem-14873	123	7	you	you	PRON
fbem-14873	123	8	shanshan	shanshan	VERB
fbem-14873	123	9	.	.	PUNCT
fbem-14873	123	10	equity	equity	NOUN
fbem-14873	123	11	incentive	incentive	NOUN
fbem-14873	123	12	contracts	contract	NOUN
fbem-14873	123	13	,	,	PUNCT
fbem-14873	123	14	technological	technological	ADJ
fbem-14873	123	15	innovation	innovation	NOUN
fbem-14873	123	16	and	and	CCONJ
fbem-14873	123	17	innovation	innovation	NOUN
fbem-14873	123	18	efficiency	efficiency	NOUN
fbem-14873	124	1	[	[	X
fbem-14873	124	2	j	j	X
fbem-14873	124	3	]	]	X
fbem-14873	124	4	.	.	PUNCT
fbem-14873	125	1	research	research	NOUN
fbem-14873	125	2	management	management	NOUN
fbem-14873	125	3	,	,	PUNCT
fbem-14873	125	4	2020	2020	NUM
fbem-14873	125	5	,	,	PUNCT
fbem-14873	125	6	41(3	41(3	NUM
fbem-14873	125	7	):	):	PUNCT
fbem-14873	125	8	217	217	NUM
fbem-14873	125	9	-	-	SYM
fbem-14873	125	10	226	226	NUM
fbem-14873	125	11	.	.	PUNCT
fbem-14873	126	1	[	[	X
fbem-14873	126	2	4	4	NUM
fbem-14873	126	3	]	]	X
fbem-14873	126	4	jiang	jiang	PROPN
fbem-14873	126	5	yingbing	yingbing	PROPN
fbem-14873	126	6	,	,	PUNCT
fbem-14873	126	7	yu	yu	PROPN
fbem-14873	126	8	yaping	yaping	PROPN
fbem-14873	126	9	.	.	PUNCT
fbem-14873	127	1	who	who	PRON
fbem-14873	127	2	are	be	AUX
fbem-14873	127	3	the	the	DET
fbem-14873	127	4	more	more	ADV
fbem-14873	127	5	direct	direct	ADJ
fbem-14873	127	6	innovators	innovator	NOUN
fbem-14873	127	7	?	?	PUNCT
fbem-14873	128	1	--core	--core	PUNCT
fbem-14873	128	2	employee	employee	NOUN
fbem-14873	128	3	equity	equity	NOUN
fbem-14873	128	4	incentives	incentive	NOUN
fbem-14873	128	5	and	and	CCONJ
fbem-14873	128	6	corporate	corporate	ADJ
fbem-14873	128	7	innovation	innovation	NOUN
fbem-14873	129	1	[	[	X
fbem-14873	129	2	j	j	X
fbem-14873	129	3	]	]	X
fbem-14873	129	4	.	.	PUNCT
fbem-14873	130	1	economic	economic	ADJ
fbem-14873	130	2	management	management	NOUN
fbem-14873	130	3	,	,	PUNCT
fbem-14873	130	4	2017	2017	NUM
fbem-14873	130	5	,	,	PUNCT
fbem-14873	130	6	39(3	39(3	NUM
fbem-14873	130	7	):	):	PUNCT
fbem-14873	130	8	109	109	NUM
fbem-14873	130	9	-	-	SYM
fbem-14873	130	10	127	127	NUM
fbem-14873	130	11	.	.	PUNCT
fbem-14873	131	1	[	[	X
fbem-14873	131	2	5	5	NUM
fbem-14873	131	3	]	]	X
fbem-14873	131	4	li	li	PROPN
fbem-14873	131	5	danmeng	danmeng	PROPN
fbem-14873	131	6	,	,	PUNCT
fbem-14873	131	7	wan	wan	PROPN
fbem-14873	131	8	hualin	hualin	PROPN
fbem-14873	131	9	.	.	PUNCT
fbem-14873	132	1	equity	equity	NOUN
fbem-14873	132	2	incentive	incentive	PROPN
fbem-14873	132	3	contract	contract	NOUN
fbem-14873	132	4	characteristics	characteristic	NOUN
fbem-14873	132	5	and	and	CCONJ
fbem-14873	132	6	corporate	corporate	ADJ
fbem-14873	132	7	innovation	innovation	NOUN
fbem-14873	133	1	[	[	X
fbem-14873	133	2	j	j	X
fbem-14873	133	3	]	]	X
fbem-14873	133	4	.	.	PUNCT
fbem-14873	134	1	economic	economic	ADJ
fbem-14873	134	2	management	management	NOUN
fbem-14873	134	3	,	,	PUNCT
fbem-14873	134	4	2017	2017	NUM
fbem-14873	134	5	,	,	PUNCT
fbem-14873	134	6	39(10	39(10	NUM
fbem-14873	134	7	):	):	PUNCT
fbem-14873	134	8	156	156	NUM
fbem-14873	134	9	-	-	SYM
fbem-14873	134	10	172	172	NUM
fbem-14873	134	11	.	.	PUNCT
fbem-14873	135	1	[	[	X
fbem-14873	135	2	6	6	NUM
fbem-14873	135	3	]	]	PUNCT
fbem-14873	135	4	lv	lv	PROPN
fbem-14873	135	5	changjiang	changjiang	PROPN
fbem-14873	135	6	,	,	PUNCT
fbem-14873	135	7	yan	yan	PROPN
fbem-14873	135	8	mingzhu	mingzhu	PROPN
fbem-14873	135	9	,	,	PUNCT
fbem-14873	135	10	zheng	zheng	PROPN
fbem-14873	135	11	huilian	huilian	PROPN
fbem-14873	135	12	,	,	PUNCT
fbem-14873	135	13	xu	xu	PROPN
fbem-14873	135	14	jingjing	jingjing	PROPN
fbem-14873	135	15	.	.	PUNCT
fbem-14873	136	1	why	why	SCONJ
fbem-14873	136	2	listed	list	VERB
fbem-14873	136	3	companies	company	NOUN
fbem-14873	136	4	choose	choose	VERB
fbem-14873	136	5	equity	equity	NOUN
fbem-14873	136	6	incentive	incentive	NOUN
fbem-14873	136	7	plans	plan	NOUN
fbem-14873	136	8	?	?	PUNCT
fbem-14873	137	1	[	[	X
fbem-14873	137	2	j	j	X
fbem-14873	137	3	]	]	X
fbem-14873	137	4	.	.	PUNCT
fbem-14873	138	1	accounting	accounting	NOUN
fbem-14873	138	2	research	research	NOUN
fbem-14873	138	3	,	,	PUNCT
fbem-14873	138	4	2011	2011	NUM
fbem-14873	138	5	,	,	PUNCT
fbem-14873	138	6	(	(	PUNCT
fbem-14873	138	7	1	1	NUM
fbem-14873	138	8	):	):	PUNCT
fbem-14873	138	9	68	68	NUM
fbem-14873	138	10	-	-	SYM
fbem-14873	138	11	75	75	NUM
fbem-14873	138	12	+	+	NOUN
fbem-14873	138	13	96	96	NUM
fbem-14873	138	14	.	.	PUNCT
fbem-14873	139	1	[	[	X
fbem-14873	139	2	7	7	X
fbem-14873	139	3	]	]	X
fbem-14873	139	4	lv	lv	PROPN
fbem-14873	139	5	changjiang	changjiang	PROPN
fbem-14873	139	6	,	,	PUNCT
fbem-14873	139	7	zhang	zhang	PROPN
fbem-14873	139	8	haiping	haiping	PROPN
fbem-14873	139	9	.	.	PUNCT
fbem-14873	140	1	the	the	DET
fbem-14873	140	2	impact	impact	NOUN
fbem-14873	140	3	of	of	ADP
fbem-14873	140	4	equity	equity	NOUN
fbem-14873	140	5	incentive	incentive	NOUN
fbem-14873	140	6	plans	plan	NOUN
fbem-14873	140	7	on	on	ADP
fbem-14873	140	8	corporates	corporate	NOUN
fbem-14873	140	9	’	'	PUNCT
fbem-14873	140	10	investment	investment	NOUN
fbem-14873	140	11	behavior	behavior	NOUN
fbem-14873	141	1	[	[	X
fbem-14873	141	2	j	j	X
fbem-14873	141	3	]	]	X
fbem-14873	141	4	.	.	PUNCT
fbem-14873	142	1	managing	manage	VERB
fbem-14873	142	2	the	the	DET
fbem-14873	142	3	world	world	NOUN
fbem-14873	142	4	,	,	PUNCT
fbem-14873	142	5	2011	2011	NUM
fbem-14873	142	6	,	,	PUNCT
fbem-14873	142	7	(	(	PUNCT
fbem-14873	142	8	11	11	NUM
fbem-14873	142	9	):	):	PUNCT
fbem-14873	142	10	118	118	NUM
fbem-14873	142	11	-	-	SYM
fbem-14873	142	12	126	126	NUM
fbem-14873	142	13	+	+	NOUN
fbem-14873	142	14	188	188	NUM
fbem-14873	142	15	.	.	PUNCT
fbem-14873	142	16	166	166	NUM
fbem-14873	143	1	[	[	SYM
fbem-14873	143	2	8	8	NUM
fbem-14873	143	3	]	]	X
fbem-14873	143	4	lv	lv	PROPN
fbem-14873	143	5	changjiang	changjiang	PROPN
fbem-14873	143	6	,	,	PUNCT
fbem-14873	143	7	yan	yan	PROPN
fbem-14873	143	8	mingzhu	mingzhu	PROPN
fbem-14873	143	9	,	,	PUNCT
fbem-14873	143	10	zheng	zheng	PROPN
fbem-14873	143	11	huilian	huilian	PROPN
fbem-14873	143	12	,	,	PUNCT
fbem-14873	143	13	xu	xu	PROPN
fbem-14873	143	14	jingjing	jingjing	PROPN
fbem-14873	143	15	.	.	PUNCT
fbem-14873	144	1	equity	equity	NOUN
fbem-14873	144	2	incentive	incentive	NOUN
fbem-14873	144	3	system	system	NOUN
fbem-14873	144	4	design	design	NOUN
fbem-14873	144	5	for	for	ADP
fbem-14873	144	6	listed	list	VERB
fbem-14873	144	7	companies	company	NOUN
fbem-14873	144	8	:	:	PUNCT
fbem-14873	144	9	incentive	incentive	NOUN
fbem-14873	144	10	or	or	CCONJ
fbem-14873	144	11	benefit	benefit	VERB
fbem-14873	144	12	?	?	PUNCT
fbem-14873	145	1	[	[	X
fbem-14873	145	2	j	j	X
fbem-14873	145	3	]	]	X
fbem-14873	145	4	.	.	PUNCT
fbem-14873	146	1	managing	manage	VERB
fbem-14873	146	2	the	the	DET
fbem-14873	146	3	world	world	NOUN
fbem-14873	146	4	,	,	PUNCT
fbem-14873	146	5	2009	2009	NUM
fbem-14873	146	6	,	,	PUNCT
fbem-14873	146	7	(	(	PUNCT
fbem-14873	146	8	9	9	NUM
fbem-14873	146	9	):	):	PUNCT
fbem-14873	146	10	133	133	NUM
fbem-14873	146	11	-	-	SYM
fbem-14873	146	12	147	147	NUM
fbem-14873	146	13	+	+	NOUN
fbem-14873	146	14	188	188	NUM
fbem-14873	146	15	.	.	PUNCT
fbem-14873	147	1	[	[	X
fbem-14873	147	2	9	9	NUM
fbem-14873	147	3	]	]	X
fbem-14873	147	4	meng	meng	PROPN
fbem-14873	147	5	xueying	xueying	PROPN
fbem-14873	147	6	,	,	PUNCT
fbem-14873	147	7	song	song	PROPN
fbem-14873	147	8	xiliang	xiliang	PROPN
fbem-14873	147	9	.	.	PUNCT
fbem-14873	148	1	equity	equity	NOUN
fbem-14873	148	2	incentives	incentive	NOUN
fbem-14873	148	3	,	,	PUNCT
fbem-14873	148	4	nature	nature	NOUN
fbem-14873	148	5	of	of	ADP
fbem-14873	148	6	property	property	NOUN
fbem-14873	148	7	rights	right	NOUN
fbem-14873	148	8	and	and	CCONJ
fbem-14873	148	9	inefficient	inefficient	ADJ
fbem-14873	148	10	investment	investment	NOUN
fbem-14873	148	11	behavior	behavior	NOUN
fbem-14873	149	1	[	[	X
fbem-14873	149	2	j	j	X
fbem-14873	149	3	]	]	X
fbem-14873	149	4	.	.	PUNCT
fbem-14873	150	1	financial	financial	ADJ
fbem-14873	150	2	research	research	NOUN
fbem-14873	150	3	,	,	PUNCT
fbem-14873	150	4	2018	2018	NUM
fbem-14873	150	5	,	,	PUNCT
fbem-14873	150	6	(	(	PUNCT
fbem-14873	150	7	3	3	NUM
fbem-14873	150	8	):	):	PUNCT
fbem-14873	150	9	95	95	NUM
fbem-14873	150	10	-	-	SYM
fbem-14873	150	11	103	103	NUM
fbem-14873	150	12	.	.	PUNCT
fbem-14873	151	1	[	[	X
fbem-14873	151	2	10	10	NUM
fbem-14873	151	3	]	]	X
fbem-14873	151	4	tang	tang	PROPN
fbem-14873	151	5	qingquan	qingquan	PROPN
fbem-14873	151	6	,	,	PUNCT
fbem-14873	151	7	xia	xia	PROPN
fbem-14873	151	8	yun	yun	PROPN
fbem-14873	151	9	,	,	PUNCT
fbem-14873	151	10	xu	xu	PROPN
fbem-14873	151	11	xin	xin	PROPN
fbem-14873	151	12	.	.	PUNCT
fbem-14873	152	1	executive	executive	ADJ
fbem-14873	152	2	equity	equity	NOUN
fbem-14873	152	3	incentives	incentive	NOUN
fbem-14873	152	4	and	and	CCONJ
fbem-14873	152	5	r&d	r&d	NOUN
fbem-14873	152	6	investments	investment	NOUN
fbem-14873	152	7	in	in	ADP
fbem-14873	152	8	china	china	PROPN
fbem-14873	152	9	's	's	PART
fbem-14873	152	10	enterprises	enterprise	NOUN
fbem-14873	152	11	--	--	PUNCT
fbem-14873	152	12	a	a	DET
fbem-14873	152	13	study	study	NOUN
fbem-14873	152	14	based	base	VERB
fbem-14873	152	15	on	on	ADP
fbem-14873	152	16	the	the	DET
fbem-14873	152	17	perspective	perspective	NOUN
fbem-14873	152	18	of	of	ADP
fbem-14873	152	19	endogeneity	endogeneity	NOUN
fbem-14873	152	20	[	[	X
fbem-14873	152	21	j	j	X
fbem-14873	152	22	]	]	X
fbem-14873	152	23	.	.	PUNCT
fbem-14873	153	1	china	china	PROPN
fbem-14873	153	2	accounting	accounting	PROPN
fbem-14873	153	3	review	review	PROPN
fbem-14873	153	4	,	,	PUNCT
fbem-14873	153	5	2011	2011	NUM
fbem-14873	153	6	,	,	PUNCT
fbem-14873	153	7	(	(	PUNCT
fbem-14873	153	8	1	1	NUM
fbem-14873	153	9	):	):	PUNCT
fbem-14873	153	10	21	21	NUM
fbem-14873	153	11	-	-	SYM
fbem-14873	153	12	42	42	NUM
fbem-14873	153	13	.	.	PUNCT
fbem-14873	154	1	[	[	X
fbem-14873	154	2	11	11	NUM
fbem-14873	154	3	]	]	PUNCT
fbem-14873	154	4	xie	xie	PROPN
fbem-14873	154	5	deren	deren	PROPN
fbem-14873	154	6	,	,	PUNCT
fbem-14873	154	7	cui	cui	PROPN
fbem-14873	154	8	chenyu	chenyu	PROPN
fbem-14873	154	9	,	,	PUNCT
fbem-14873	154	10	tang	tang	PROPN
fbem-14873	154	11	xiaoyan	xiaoyan	PROPN
fbem-14873	154	12	.	.	PUNCT
fbem-14873	155	1	performance	performance	NOUN
fbem-14873	155	2	-	-	PUNCT
fbem-14873	155	3	based	base	VERB
fbem-14873	155	4	equity	equity	NOUN
fbem-14873	155	5	incentives	incentive	NOUN
fbem-14873	155	6	for	for	ADP
fbem-14873	155	7	performance	performance	NOUN
fbem-14873	155	8	attainment	attainment	ADJ
fbem-14873	155	9	motives	motive	NOUN
fbem-14873	155	10	and	and	CCONJ
fbem-14873	155	11	real	real	ADJ
fbem-14873	155	12	surplus	surplus	ADJ
fbem-14873	155	13	management	management	NOUN
fbem-14873	156	1	[	[	X
fbem-14873	156	2	j	j	X
fbem-14873	156	3	]	]	X
fbem-14873	156	4	.	.	PUNCT
fbem-14873	157	1	nankai	nankai	PROPN
fbem-14873	157	2	management	management	PROPN
fbem-14873	157	3	review	review	PROPN
fbem-14873	157	4	,	,	PUNCT
fbem-14873	157	5	2018	2018	NUM
fbem-14873	157	6	,	,	PUNCT
fbem-14873	157	7	21	21	NUM
fbem-14873	157	8	(	(	PUNCT
fbem-14873	157	9	1	1	NUM
fbem-14873	157	10	):	):	PUNCT
fbem-14873	157	11	159	159	NUM
fbem-14873	157	12	-	-	SYM
fbem-14873	157	13	171	171	NUM
fbem-14873	157	14	.	.	PUNCT
fbem-14873	158	1	[	[	X
fbem-14873	158	2	12	12	NUM
fbem-14873	158	3	]	]	X
fbem-14873	158	4	zhang	zhang	PROPN
fbem-14873	158	5	yan	yan	PROPN
fbem-14873	158	6	,	,	PUNCT
fbem-14873	158	7	fan	fan	PROPN
fbem-14873	158	8	xiaoxia	xiaoxia	PROPN
fbem-14873	158	9	.	.	PUNCT
fbem-14873	159	1	an	an	DET
fbem-14873	159	2	empirical	empirical	ADJ
fbem-14873	159	3	study	study	NOUN
fbem-14873	159	4	on	on	ADP
fbem-14873	159	5	equity	equity	NOUN
fbem-14873	159	6	incentives	incentive	NOUN
fbem-14873	159	7	and	and	CCONJ
fbem-14873	159	8	firm	firm	ADJ
fbem-14873	159	9	performance	performance	NOUN
fbem-14873	159	10	of	of	ADP
fbem-14873	159	11	small	small	ADJ
fbem-14873	159	12	and	and	CCONJ
fbem-14873	159	13	medium	medium	ADJ
fbem-14873	159	14	-	-	PUNCT
fbem-14873	159	15	sized	sized	ADJ
fbem-14873	159	16	listed	list	VERB
fbem-14873	159	17	companies	company	NOUN
fbem-14873	159	18	[	[	X
fbem-14873	159	19	j	j	X
fbem-14873	159	20	]	]	X
fbem-14873	159	21	.	.	PUNCT
fbem-14873	160	1	china	china	PROPN
fbem-14873	160	2	management	management	PROPN
fbem-14873	160	3	science	science	PROPN
fbem-14873	160	4	,	,	PUNCT
fbem-14873	160	5	2015	2015	NUM
fbem-14873	160	6	,	,	PUNCT
fbem-14873	160	7	23(s1	23(s1	NUM
fbem-14873	160	8	):	):	PUNCT
fbem-14873	160	9	405	405	NUM
fbem-14873	160	10	-	-	SYM
fbem-14873	160	11	410	410	NUM
fbem-14873	160	12	.	.	PUNCT
fbem-14873	161	1	[	[	X
fbem-14873	161	2	13	13	NUM
fbem-14873	161	3	]	]	X
fbem-14873	161	4	benmelech	benmelech	NOUN
fbem-14873	161	5	,	,	PUNCT
fbem-14873	161	6	e.	e.	PROPN
fbem-14873	161	7	,	,	PUNCT
fbem-14873	161	8	kandel	kandel	PROPN
fbem-14873	161	9	,	,	PUNCT
fbem-14873	161	10	e.	e.	PROPN
fbem-14873	161	11	stock	stock	PROPN
fbem-14873	161	12	-	-	PUNCT
fbem-14873	161	13	based	base	VERB
fbem-14873	161	14	compensation	compensation	NOUN
fbem-14873	161	15	and	and	CCONJ
fbem-14873	161	16	ceo(dis)incentives[j	ceo(dis)incentives[j	NOUN
fbem-14873	161	17	]	]	X
fbem-14873	161	18	.	.	PUNCT
fbem-14873	162	1	the	the	DET
fbem-14873	162	2	quarterly	quarterly	ADJ
fbem-14873	162	3	journal	journal	NOUN
fbem-14873	162	4	of	of	ADP
fbem-14873	162	5	economics	economic	NOUN
fbem-14873	162	6	,	,	PUNCT
fbem-14873	162	7	2010,125(4):1769	2010,125(4):1769	NUM
fbem-14873	162	8	-	-	SYM
fbem-14873	162	9	1820	1820	NUM
fbem-14873	162	10	.	.	PUNCT
fbem-14873	163	1	[	[	X
fbem-14873	163	2	14	14	NUM
fbem-14873	163	3	]	]	PUNCT
fbem-14873	163	4	bergstresser	bergstresser	NOUN
fbem-14873	163	5	,	,	PUNCT
fbem-14873	163	6	d.	d.	PROPN
fbem-14873	163	7	,	,	PUNCT
fbem-14873	163	8	philippon	philippon	ADV
fbem-14873	163	9	,	,	PUNCT
fbem-14873	163	10	t.	t.	PROPN
fbem-14873	163	11	ceo	ceo	NOUN
fbem-14873	163	12	incentives	incentive	NOUN
fbem-14873	163	13	and	and	CCONJ
fbem-14873	163	14	earnings	earning	NOUN
fbem-14873	163	15	management[j	management[j	NOUN
fbem-14873	163	16	]	]	PUNCT
fbem-14873	163	17	.	.	PUNCT
fbem-14873	164	1	journal	journal	PROPN
fbem-14873	164	2	of	of	ADP
fbem-14873	164	3	financial	financial	ADJ
fbem-14873	164	4	economics	economic	NOUN
fbem-14873	164	5	,	,	PUNCT
fbem-14873	164	6	2006	2006	NUM
fbem-14873	164	7	,	,	PUNCT
fbem-14873	164	8	80:511	80:511	NUM
fbem-14873	164	9	-	-	SYM
fbem-14873	164	10	529	529	NUM
fbem-14873	164	11	.	.	PUNCT
fbem-14873	165	1	[	[	X
fbem-14873	165	2	15	15	NUM
fbem-14873	165	3	]	]	X
fbem-14873	165	4	carter	carter	PROPN
fbem-14873	165	5	,	,	PUNCT
fbem-14873	165	6	d.	d.	PROPN
fbem-14873	165	7	,	,	PUNCT
fbem-14873	165	8	rogers	rogers	PROPN
fbem-14873	165	9	,	,	PUNCT
fbem-14873	165	10	d.	d.	PROPN
fbem-14873	165	11	,	,	PUNCT
fbem-14873	165	12	simkins	simkin	NOUN
fbem-14873	165	13	,	,	PUNCT
fbem-14873	165	14	b.	b.	PROPN
fbem-14873	165	15	does	do	AUX
fbem-14873	165	16	risk	risk	NOUN
fbem-14873	165	17	management	management	NOUN
fbem-14873	165	18	add	add	VERB
fbem-14873	165	19	value	value	NOUN
fbem-14873	165	20	?	?	PUNCT
fbem-14873	166	1	a	a	DET
fbem-14873	166	2	survey	survey	NOUN
fbem-14873	166	3	of	of	ADP
fbem-14873	166	4	the	the	DET
fbem-14873	166	5	evidence[j	evidence[j	NOUN
fbem-14873	166	6	]	]	PUNCT
fbem-14873	166	7	.	.	PUNCT
fbem-14873	167	1	journal	journal	PROPN
fbem-14873	167	2	of	of	ADP
fbem-14873	167	3	applied	apply	VERB
fbem-14873	167	4	corporate	corporate	ADJ
fbem-14873	167	5	finance	finance	NOUN
fbem-14873	167	6	,	,	PUNCT
fbem-14873	167	7	2014	2014	NUM
fbem-14873	167	8	,	,	PUNCT
fbem-14873	167	9	17(3):8	17(3):8	PROPN
fbem-14873	167	10	-	-	SYM
fbem-14873	167	11	17	17	NUM
fbem-14873	167	12	.	.	PUNCT
fbem-14873	168	1	[	[	X
fbem-14873	168	2	16	16	NUM
fbem-14873	168	3	]	]	X
fbem-14873	168	4	chourou	chourou	NOUN
fbem-14873	168	5	,	,	PUNCT
fbem-14873	168	6	l.	l.	PROPN
fbem-14873	168	7	,	,	PUNCT
fbem-14873	168	8	abaoubb	abaoubb	PROPN
fbem-14873	168	9	,	,	PUNCT
fbem-14873	168	10	e.	e.	PROPN
fbem-14873	168	11	,	,	PUNCT
fbem-14873	168	12	saadi	saadi	PROPN
fbem-14873	168	13	,	,	PUNCT
fbem-14873	168	14	s.	s.	PROPN
fbem-14873	169	1	the	the	DET
fbem-14873	169	2	economic	economic	ADJ
fbem-14873	169	3	determinants	determinant	NOUN
fbem-14873	169	4	of	of	ADP
fbem-14873	169	5	ceo	ceo	NOUN
fbem-14873	169	6	stock	stock	NOUN
fbem-14873	169	7	option	option	NOUN
fbem-14873	169	8	compensation[j	compensation[j	ADP
fbem-14873	169	9	]	]	PUNCT
fbem-14873	169	10	.	.	PUNCT
fbem-14873	170	1	journal	journal	PROPN
fbem-14873	170	2	of	of	ADP
fbem-14873	170	3	multinational	multinational	ADJ
fbem-14873	170	4	financial	financial	ADJ
fbem-14873	170	5	management,2008,18	management,2008,18	NOUN
fbem-14873	170	6	(	(	PUNCT
fbem-14873	170	7	1):61	1):61	NUM
fbem-14873	170	8	-	-	SYM
fbem-14873	170	9	77	77	NUM
fbem-14873	170	10	.	.	PUNCT
fbem-14873	171	1	[	[	X
fbem-14873	171	2	17	17	NUM
fbem-14873	171	3	]	]	PUNCT
fbem-14873	171	4	collins	collins	PROPN
fbem-14873	171	5	,	,	PUNCT
fbem-14873	171	6	d.	d.	PROPN
fbem-14873	171	7	,	,	PUNCT
fbem-14873	171	8	fleischman	fleischman	PROPN
fbem-14873	171	9	,	,	PUNCT
fbem-14873	171	10	g.	g.	PROPN
fbem-14873	171	11	,	,	PUNCT
fbem-14873	171	12	kaden	kaden	PROPN
fbem-14873	171	13	,	,	PUNCT
fbem-14873	171	14	s.	s.	PROPN
fbem-14873	171	15	how	how	SCONJ
fbem-14873	171	16	powerful	powerful	ADJ
fbem-14873	171	17	cfos	cfos	NOUN
fbem-14873	171	18	camouflage	camouflage	NOUN
fbem-14873	171	19	and	and	CCONJ
fbem-14873	171	20	exploit	exploit	VERB
fbem-14873	171	21	equity	equity	NOUN
fbem-14873	171	22	-	-	PUNCT
fbem-14873	171	23	based	base	VERB
fbem-14873	171	24	incentive	incentive	NOUN
fbem-14873	171	25	compensation	compensation	NOUN
fbem-14873	172	1	[	[	X
fbem-14873	172	2	j	j	X
fbem-14873	172	3	]	]	X
fbem-14873	172	4	.	.	PUNCT
fbem-14873	173	1	journal	journal	PROPN
fbem-14873	173	2	of	of	ADP
fbem-14873	173	3	business	business	NOUN
fbem-14873	173	4	ethics	ethic	NOUN
fbem-14873	173	5	,	,	PUNCT
fbem-14873	173	6	2017	2017	NUM
fbem-14873	173	7	,	,	PUNCT
fbem-14873	173	8	28	28	NUM
fbem-14873	173	9	(	(	PUNCT
fbem-14873	173	10	3):123	3):123	NOUN
fbem-14873	173	11	.	.	PUNCT
fbem-14873	174	1	[	[	X
fbem-14873	174	2	18	18	NUM
fbem-14873	174	3	]	]	X
fbem-14873	174	4	dittmann	dittmann	NOUN
fbem-14873	174	5	,	,	PUNCT
fbem-14873	174	6	i.	i.	NOUN
fbem-14873	174	7	,	,	PUNCT
fbem-14873	174	8	maug	maug	NOUN
fbem-14873	174	9	,	,	PUNCT
fbem-14873	174	10	e.	e.	PROPN
fbem-14873	174	11	lower	lower	PROPN
fbem-14873	174	12	salaries	salary	NOUN
fbem-14873	174	13	and	and	CCONJ
fbem-14873	174	14	no	no	DET
fbem-14873	174	15	options	option	NOUN
fbem-14873	174	16	?	?	PUNCT
fbem-14873	175	1	on	on	ADP
fbem-14873	175	2	the	the	DET
fbem-14873	175	3	optimal	optimal	ADJ
fbem-14873	175	4	structure	structure	NOUN
fbem-14873	175	5	of	of	ADP
fbem-14873	175	6	the	the	DET
fbem-14873	175	7	executive	executive	NOUN
fbem-14873	175	8	pay[j	pay[j	NOUN
fbem-14873	175	9	]	]	PUNCT
fbem-14873	175	10	.	.	PUNCT
fbem-14873	176	1	the	the	DET
fbem-14873	176	2	journal	journal	PROPN
fbem-14873	176	3	of	of	ADP
fbem-14873	176	4	finance,2007	finance,2007	ADJ
fbem-14873	176	5	,	,	PUNCT
fbem-14873	176	6	62(1):303	62(1):303	PROPN
fbem-14873	176	7	-	-	SYM
fbem-14873	176	8	343	343	NUM
fbem-14873	176	9	.	.	PUNCT
fbem-14873	177	1	[	[	X
fbem-14873	177	2	19	19	NUM
fbem-14873	177	3	]	]	PUNCT
fbem-14873	177	4	hall	hall	NOUN
fbem-14873	177	5	,	,	PUNCT
fbem-14873	177	6	b.j	b.j	PROPN
fbem-14873	177	7	.	.	PROPN
fbem-14873	177	8	,	,	PUNCT
fbem-14873	177	9	murphy	murphy	PROPN
fbem-14873	177	10	,	,	PUNCT
fbem-14873	177	11	k.j	k.j	PROPN
fbem-14873	177	12	.	.	PUNCT
fbem-14873	178	1	the	the	DET
fbem-14873	178	2	trouble	trouble	NOUN
fbem-14873	178	3	with	with	ADP
fbem-14873	178	4	stock	stock	NOUN
fbem-14873	178	5	options[j	options[j	PROPN
fbem-14873	178	6	]	]	PUNCT
fbem-14873	178	7	.	.	PUNCT
fbem-14873	179	1	journal	journal	PROPN
fbem-14873	179	2	of	of	ADP
fbem-14873	179	3	economics	economics	PROPN
fbem-14873	179	4	perspective	perspective	NOUN
fbem-14873	179	5	,	,	PUNCT
fbem-14873	179	6	2003(17	2003(17	NUM
fbem-14873	179	7	)	)	PUNCT
fbem-14873	179	8	,	,	PUNCT
fbem-14873	179	9	:	:	PUNCT
fbem-14873	179	10	49	49	NUM
fbem-14873	179	11	-	-	SYM
fbem-14873	179	12	70	70	NUM
fbem-14873	179	13	.	.	PUNCT
fbem-14873	180	1	[	[	X
fbem-14873	180	2	20	20	NUM
fbem-14873	180	3	]	]	X
fbem-14873	180	4	mehran	mehran	PROPN
fbem-14873	180	5	.	.	PUNCT
fbem-14873	180	6	executive	executive	PROPN
fbem-14873	180	7	compensation	compensation	NOUN
fbem-14873	180	8	structure	structure	NOUN
fbem-14873	180	9	,	,	PUNCT
fbem-14873	180	10	ownership	ownership	NOUN
fbem-14873	180	11	,	,	PUNCT
fbem-14873	180	12	and	and	CCONJ
fbem-14873	180	13	firm	firm	ADJ
fbem-14873	180	14	performance[j	performance[j	NOUN
fbem-14873	180	15	]	]	PUNCT
fbem-14873	180	16	.	.	PUNCT
fbem-14873	181	1	journal	journal	PROPN
fbem-14873	181	2	of	of	ADP
fbem-14873	181	3	financial	financial	ADJ
fbem-14873	181	4	economies	economy	NOUN
fbem-14873	181	5	,	,	PUNCT
fbem-14873	181	6	1995	1995	NUM
fbem-14873	181	7	,	,	PUNCT
fbem-14873	181	8	38:163	38:163	NUM
fbem-14873	181	9	-	-	SYM
fbem-14873	181	10	184	184	NUM
fbem-14873	181	11	.	.	PUNCT
fbem-14873	182	1	[	[	X
fbem-14873	182	2	21	21	NUM
fbem-14873	182	3	]	]	PUNCT
fbem-14873	182	4	oyer	oyer	NOUN
fbem-14873	182	5	,	,	PUNCT
fbem-14873	182	6	p.	p.	NOUN
fbem-14873	182	7	,	,	PUNCT
fbem-14873	182	8	schaefer	schaefer	PROPN
fbem-14873	182	9	,	,	PUNCT
fbem-14873	182	10	s.	s.	PROPN
fbem-14873	182	11	why	why	SCONJ
fbem-14873	182	12	do	do	AUX
fbem-14873	182	13	some	some	DET
fbem-14873	182	14	firms	firm	NOUN
fbem-14873	182	15	give	give	VERB
fbem-14873	182	16	stock	stock	NOUN
fbem-14873	182	17	options	option	NOUN
fbem-14873	182	18	to	to	ADP
fbem-14873	182	19	all	all	DET
fbem-14873	182	20	employees	employee	NOUN
fbem-14873	182	21	?	?	PUNCT
fbem-14873	183	1	an	an	DET
fbem-14873	183	2	empirical	empirical	ADJ
fbem-14873	183	3	examination	examination	NOUN
fbem-14873	183	4	of	of	ADP
fbem-14873	183	5	alternative	alternative	ADJ
fbem-14873	183	6	theories	theory	NOUN
fbem-14873	183	7	[	[	PUNCT
fbem-14873	183	8	j	j	X
fbem-14873	183	9	]	]	X
fbem-14873	183	10	.	.	PUNCT
fbem-14873	184	1	journal	journal	PROPN
fbem-14873	184	2	of	of	ADP
fbem-14873	184	3	financial	financial	ADJ
fbem-14873	184	4	economics,2005,76(1):99133	economics,2005,76(1):99133	NOUN
fbem-14873	184	5	.	.	PUNCT
fbem-14873	185	1	[	[	X
fbem-14873	185	2	22	22	NUM
fbem-14873	185	3	]	]	X
fbem-14873	185	4	shue	shue	PROPN
fbem-14873	185	5	,	,	PUNCT
fbem-14873	185	6	k.	k.	PROPN
fbem-14873	185	7	,	,	PUNCT
fbem-14873	185	8	townsend	townsend	PROPN
fbem-14873	185	9	,	,	PUNCT
fbem-14873	185	10	r.r	r.r	PROPN
fbem-14873	185	11	.	.	PUNCT
fbem-14873	185	12	how	how	SCONJ
fbem-14873	185	13	do	do	AUX
fbem-14873	185	14	quasi	quasi	ADJ
fbem-14873	185	15	-	-	ADJ
fbem-14873	185	16	random	random	ADJ
fbem-14873	185	17	option	option	NOUN
fbem-14873	185	18	grants	grant	NOUN
fbem-14873	185	19	affect	affect	VERB
fbem-14873	185	20	ceo	ceo	NOUN
fbem-14873	185	21	risk	risk	NOUN
fbem-14873	185	22	-	-	PUNCT
fbem-14873	185	23	taking[j	taking[j	NOUN
fbem-14873	185	24	]	]	PUNCT
fbem-14873	185	25	.	.	PUNCT
fbem-14873	186	1	journal	journal	PROPN
fbem-14873	186	2	of	of	ADP
fbem-14873	186	3	finance	finance	NOUN
fbem-14873	186	4	,	,	PUNCT
fbem-14873	186	5	2017	2017	NUM
fbem-14873	186	6	,	,	PUNCT
fbem-14873	186	7	72(6):2551	72(6):2551	NUM
fbem-14873	186	8	-	-	SYM
fbem-14873	186	9	2588	2588	NUM
fbem-14873	186	10	.	.	PUNCT
fbem-14873	187	1	[	[	X
fbem-14873	187	2	23	23	NUM
fbem-14873	187	3	]	]	PUNCT
fbem-14873	187	4	he	he	PRON
fbem-14873	187	5	jianfeng	jianfeng	PROPN
fbem-14873	187	6	.	.	PUNCT
fbem-14873	188	1	research	research	NOUN
fbem-14873	188	2	on	on	ADP
fbem-14873	188	3	core	core	ADJ
fbem-14873	188	4	employee	employee	NOUN
fbem-14873	188	5	equity	equity	NOUN
fbem-14873	188	6	incentive	incentive	NOUN
fbem-14873	188	7	and	and	CCONJ
fbem-14873	188	8	market	market	NOUN
fbem-14873	188	9	reaction	reaction	NOUN
fbem-14873	189	1	[	[	X
fbem-14873	189	2	j	j	X
fbem-14873	189	3	]	]	X
fbem-14873	189	4	.	.	PUNCT
fbem-14873	190	1	enterprise	enterprise	NOUN
fbem-14873	190	2	technology	technology	NOUN
fbem-14873	190	3	and	and	CCONJ
fbem-14873	190	4	development	development	NOUN
fbem-14873	190	5	.	.	PUNCT
fbem-14873	191	1	2022	2022	NUM
fbem-14873	191	2	,	,	PUNCT
fbem-14873	191	3	(	(	PUNCT
fbem-14873	191	4	02	02	NUM
fbem-14873	191	5	)	)	PUNCT
fbem-14873	192	1	[	[	X
fbem-14873	192	2	24	24	NUM
fbem-14873	192	3	]	]	PUNCT
fbem-14873	192	4	cui	cui	NOUN
fbem-14873	192	5	xiaoqing	xiaoqing	NOUN
fbem-14873	192	6	.	.	PUNCT
fbem-14873	193	1	research	research	NOUN
fbem-14873	193	2	on	on	ADP
fbem-14873	193	3	equity	equity	NOUN
fbem-14873	193	4	incentive	incentive	NOUN
fbem-14873	193	5	issues	issue	NOUN
fbem-14873	193	6	of	of	ADP
fbem-14873	193	7	stateholding	stateholde	VERB
fbem-14873	193	8	listed	list	VERB
fbem-14873	193	9	companies	company	NOUN
fbem-14873	193	10	in	in	ADP
fbem-14873	193	11	china[j	china[j	PROPN
fbem-14873	193	12	]	]	PUNCT
fbem-14873	193	13	.	.	PUNCT
fbem-14873	194	1	chinese	chinese	ADJ
fbem-14873	194	2	and	and	CCONJ
fbem-14873	194	3	foreign	foreign	ADJ
fbem-14873	194	4	entrepreneur	entrepreneur	NOUN
fbem-14873	194	5	,	,	PUNCT
fbem-14873	194	6	2019(15):39	2019(15):39	NUM
fbem-14873	194	7	-	-	SYM
fbem-14873	194	8	40	40	NUM
fbem-14873	195	1	[	[	X
fbem-14873	195	2	25	25	NUM
fbem-14873	195	3	]	]	PUNCT
fbem-14873	195	4	xin	xin	PROPN
fbem-14873	195	5	yue	yue	PROPN
fbem-14873	195	6	.	.	PUNCT
fbem-14873	196	1	research	research	NOUN
fbem-14873	196	2	on	on	ADP
fbem-14873	196	3	equity	equity	NOUN
fbem-14873	196	4	incentive	incentive	NOUN
fbem-14873	196	5	issues	issue	NOUN
fbem-14873	196	6	of	of	ADP
fbem-14873	196	7	listed	list	VERB
fbem-14873	196	8	companies	company	NOUN
fbem-14873	196	9	in	in	ADP
fbem-14873	196	10	china[j	china[j	PROPN
fbem-14873	196	11	]	]	PUNCT
fbem-14873	196	12	.	.	PUNCT
fbem-14873	197	1	taxation	taxation	NOUN
fbem-14873	197	2	.	.	PUNCT
fbem-14873	198	1	2019	2019	NUM
fbem-14873	198	2	(	(	PUNCT
fbem-14873	198	3	18	18	NUM
fbem-14873	198	4	):	):	SYM
fbem-14873	198	5	177	177	NUM
fbem-14873	198	6	-	-	SYM
fbem-14873	198	7	178	178	NUM
fbem-14873	198	8	.	.	PUNCT