id	sid	tid	token	lemma	pos
fbem-16427	1	1	frontiers	frontier	NOUN
fbem-16427	1	2	in	in	ADP
fbem-16427	1	3	business	business	NOUN
fbem-16427	1	4	,	,	PUNCT
fbem-16427	1	5	economics	economic	NOUN
fbem-16427	1	6	and	and	CCONJ
fbem-16427	1	7	management	management	NOUN
fbem-16427	1	8	issn	issn	PROPN
fbem-16427	1	9	:	:	PUNCT
fbem-16427	1	10	2766	2766	NUM
fbem-16427	1	11	-	-	PUNCT
fbem-16427	1	12	824x	824x	NUM
fbem-16427	1	13	|	|	ADJ
fbem-16427	1	14	vol	vol	NOUN
fbem-16427	1	15	.	.	PROPN
fbem-16427	1	16	13	13	NUM
fbem-16427	1	17	,	,	PUNCT
fbem-16427	1	18	no	no	INTJ
fbem-16427	1	19	.	.	NOUN
fbem-16427	1	20	1	1	NUM
fbem-16427	1	21	,	,	PUNCT
fbem-16427	1	22	2024	2024	NUM
fbem-16427	1	23	6	6	NUM
fbem-16427	1	24	digital	digital	ADJ
fbem-16427	1	25	transformation	transformation	NOUN
fbem-16427	1	26	,	,	PUNCT
fbem-16427	1	27	esg	esg	NOUN
fbem-16427	1	28	performance	performance	NOUN
fbem-16427	1	29	,	,	PUNCT
fbem-16427	1	30	and	and	CCONJ
fbem-16427	1	31	high	high	ADJ
fbem-16427	1	32	quality	quality	NOUN
fbem-16427	1	33	development	development	NOUN
fbem-16427	1	34	of	of	ADP
fbem-16427	1	35	enterprises	enterprise	NOUN
fbem-16427	1	36	boyang	boyang	PROPN
fbem-16427	1	37	zhu	zhu	PROPN
fbem-16427	1	38	finance	finance	PROPN
fbem-16427	1	39	department	department	PROPN
fbem-16427	1	40	,	,	PUNCT
fbem-16427	1	41	southwest	southwest	PROPN
fbem-16427	1	42	university	university	NOUN
fbem-16427	1	43	,	,	PUNCT
fbem-16427	1	44	chongqing	chongqe	VERB
fbem-16427	1	45	400715	400715	NUM
fbem-16427	1	46	,	,	PUNCT
fbem-16427	1	47	china	china	PROPN
fbem-16427	1	48	abstract	abstract	PROPN
fbem-16427	1	49	:	:	PUNCT
fbem-16427	1	50	this	this	DET
fbem-16427	1	51	article	article	NOUN
fbem-16427	1	52	selects	select	VERB
fbem-16427	1	53	chinese	chinese	ADJ
fbem-16427	1	54	a	a	PROPN
fbem-16427	1	55	-	-	PUNCT
fbem-16427	1	56	share	share	NOUN
fbem-16427	1	57	listed	list	VERB
fbem-16427	1	58	companies	company	NOUN
fbem-16427	1	59	in	in	ADP
fbem-16427	1	60	shanghai	shanghai	PROPN
fbem-16427	1	61	and	and	CCONJ
fbem-16427	1	62	shenzhen	shenzhen	PROPN
fbem-16427	1	63	from	from	ADP
fbem-16427	1	64	2012	2012	NUM
fbem-16427	1	65	to	to	ADP
fbem-16427	1	66	2022	2022	NUM
fbem-16427	1	67	as	as	ADP
fbem-16427	1	68	the	the	DET
fbem-16427	1	69	initial	initial	ADJ
fbem-16427	1	70	research	research	NOUN
fbem-16427	1	71	sample	sample	NOUN
fbem-16427	1	72	to	to	PART
fbem-16427	1	73	empirically	empirically	ADV
fbem-16427	1	74	explore	explore	VERB
fbem-16427	1	75	the	the	DET
fbem-16427	1	76	impact	impact	NOUN
fbem-16427	1	77	mechanism	mechanism	NOUN
fbem-16427	1	78	and	and	CCONJ
fbem-16427	1	79	path	path	NOUN
fbem-16427	1	80	of	of	ADP
fbem-16427	1	81	digital	digital	ADJ
fbem-16427	1	82	transformation	transformation	NOUN
fbem-16427	1	83	on	on	ADP
fbem-16427	1	84	the	the	DET
fbem-16427	1	85	high	high	ADJ
fbem-16427	1	86	-	-	PUNCT
fbem-16427	1	87	quality	quality	NOUN
fbem-16427	1	88	development	development	NOUN
fbem-16427	1	89	of	of	ADP
fbem-16427	1	90	enterprises	enterprise	NOUN
fbem-16427	1	91	.	.	PUNCT
fbem-16427	2	1	research	research	NOUN
fbem-16427	2	2	has	have	AUX
fbem-16427	2	3	found	find	VERB
fbem-16427	2	4	that	that	SCONJ
fbem-16427	2	5	digital	digital	ADJ
fbem-16427	2	6	transformation	transformation	NOUN
fbem-16427	2	7	has	have	VERB
fbem-16427	2	8	a	a	DET
fbem-16427	2	9	significant	significant	ADJ
fbem-16427	2	10	positive	positive	ADJ
fbem-16427	2	11	impact	impact	NOUN
fbem-16427	2	12	on	on	ADP
fbem-16427	2	13	the	the	DET
fbem-16427	2	14	high	high	ADJ
fbem-16427	2	15	-	-	PUNCT
fbem-16427	2	16	quality	quality	NOUN
fbem-16427	2	17	development	development	NOUN
fbem-16427	2	18	of	of	ADP
fbem-16427	2	19	enterprises	enterprise	NOUN
fbem-16427	2	20	;	;	PUNCT
fbem-16427	2	21	esg	esg	PROPN
fbem-16427	2	22	plays	play	VERB
fbem-16427	2	23	a	a	DET
fbem-16427	2	24	mediating	mediate	VERB
fbem-16427	2	25	role	role	NOUN
fbem-16427	2	26	in	in	ADP
fbem-16427	2	27	the	the	DET
fbem-16427	2	28	process	process	NOUN
fbem-16427	2	29	of	of	ADP
fbem-16427	2	30	digital	digital	ADJ
fbem-16427	2	31	transformation	transformation	NOUN
fbem-16427	2	32	affecting	affect	VERB
fbem-16427	2	33	the	the	DET
fbem-16427	2	34	high	high	ADJ
fbem-16427	2	35	-	-	PUNCT
fbem-16427	2	36	quality	quality	NOUN
fbem-16427	2	37	development	development	NOUN
fbem-16427	2	38	of	of	ADP
fbem-16427	2	39	enterprises	enterprise	NOUN
fbem-16427	2	40	.	.	PUNCT
fbem-16427	3	1	keywords	keyword	NOUN
fbem-16427	3	2	:	:	PUNCT
fbem-16427	3	3	digital	digital	ADJ
fbem-16427	3	4	transformation	transformation	NOUN
fbem-16427	3	5	,	,	PUNCT
fbem-16427	3	6	esg	esg	NOUN
fbem-16427	3	7	performance	performance	NOUN
fbem-16427	3	8	,	,	PUNCT
fbem-16427	3	9	high	high	ADJ
fbem-16427	3	10	quality	quality	NOUN
fbem-16427	3	11	development	development	NOUN
fbem-16427	3	12	.	.	PUNCT
fbem-16427	4	1	1	1	X
fbem-16427	4	2	.	.	X
fbem-16427	4	3	introduction	introduction	NOUN
fbem-16427	4	4	driven	drive	VERB
fbem-16427	4	5	by	by	ADP
fbem-16427	4	6	the	the	DET
fbem-16427	4	7	14th	14th	ADJ
fbem-16427	4	8	five	five	NUM
fbem-16427	4	9	year	year	NOUN
fbem-16427	4	10	plan	plan	NOUN
fbem-16427	4	11	and	and	CCONJ
fbem-16427	4	12	the	the	DET
fbem-16427	4	13	dual	dual	ADJ
fbem-16427	4	14	carbon	carbon	NOUN
fbem-16427	4	15	goals	goal	NOUN
fbem-16427	4	16	,	,	PUNCT
fbem-16427	4	17	china	china	PROPN
fbem-16427	4	18	is	be	AUX
fbem-16427	4	19	accelerating	accelerate	VERB
fbem-16427	4	20	the	the	DET
fbem-16427	4	21	construction	construction	NOUN
fbem-16427	4	22	of	of	ADP
fbem-16427	4	23	a	a	DET
fbem-16427	4	24	digital	digital	ADJ
fbem-16427	4	25	economy	economy	NOUN
fbem-16427	4	26	,	,	PUNCT
fbem-16427	4	27	digital	digital	ADJ
fbem-16427	4	28	society	society	NOUN
fbem-16427	4	29	,	,	PUNCT
fbem-16427	4	30	and	and	CCONJ
fbem-16427	4	31	digital	digital	ADJ
fbem-16427	4	32	government	government	NOUN
fbem-16427	4	33	,	,	PUNCT
fbem-16427	4	34	promoting	promote	VERB
fbem-16427	4	35	the	the	DET
fbem-16427	4	36	digital	digital	ADJ
fbem-16427	4	37	transformation	transformation	NOUN
fbem-16427	4	38	of	of	ADP
fbem-16427	4	39	enterprises	enterprise	NOUN
fbem-16427	4	40	to	to	PART
fbem-16427	4	41	enhance	enhance	VERB
fbem-16427	4	42	their	their	PRON
fbem-16427	4	43	competitiveness	competitiveness	NOUN
fbem-16427	4	44	,	,	PUNCT
fbem-16427	4	45	innovation	innovation	NOUN
fbem-16427	4	46	,	,	PUNCT
fbem-16427	4	47	and	and	CCONJ
fbem-16427	4	48	risk	risk	NOUN
fbem-16427	4	49	prediction	prediction	NOUN
fbem-16427	4	50	capabilities	capability	NOUN
fbem-16427	4	51	.	.	PUNCT
fbem-16427	5	1	with	with	ADP
fbem-16427	5	2	the	the	DET
fbem-16427	5	3	development	development	NOUN
fbem-16427	5	4	of	of	ADP
fbem-16427	5	5	emerging	emerge	VERB
fbem-16427	5	6	technologies	technology	NOUN
fbem-16427	5	7	such	such	ADJ
fbem-16427	5	8	as	as	ADP
fbem-16427	5	9	big	big	ADJ
fbem-16427	5	10	data	datum	NOUN
fbem-16427	5	11	and	and	CCONJ
fbem-16427	5	12	the	the	DET
fbem-16427	5	13	internet	internet	NOUN
fbem-16427	5	14	of	of	ADP
fbem-16427	5	15	things	thing	NOUN
fbem-16427	5	16	,	,	PUNCT
fbem-16427	5	17	digital	digital	ADJ
fbem-16427	5	18	transformation	transformation	NOUN
fbem-16427	5	19	has	have	AUX
fbem-16427	5	20	become	become	VERB
fbem-16427	5	21	an	an	DET
fbem-16427	5	22	important	important	ADJ
fbem-16427	5	23	trend	trend	NOUN
fbem-16427	5	24	in	in	ADP
fbem-16427	5	25	enterprise	enterprise	NOUN
fbem-16427	5	26	development	development	NOUN
fbem-16427	5	27	.	.	PUNCT
fbem-16427	6	1	it	it	PRON
fbem-16427	6	2	not	not	PART
fbem-16427	6	3	only	only	ADV
fbem-16427	6	4	involves	involve	VERB
fbem-16427	6	5	the	the	DET
fbem-16427	6	6	updating	updating	NOUN
fbem-16427	6	7	and	and	CCONJ
fbem-16427	6	8	application	application	NOUN
fbem-16427	6	9	of	of	ADP
fbem-16427	6	10	technology	technology	NOUN
fbem-16427	6	11	,	,	PUNCT
fbem-16427	6	12	but	but	CCONJ
fbem-16427	6	13	also	also	ADV
fbem-16427	6	14	relates	relate	VERB
fbem-16427	6	15	to	to	ADP
fbem-16427	6	16	the	the	DET
fbem-16427	6	17	fundamental	fundamental	ADJ
fbem-16427	6	18	transformation	transformation	NOUN
fbem-16427	6	19	of	of	ADP
fbem-16427	6	20	enterprise	enterprise	NOUN
fbem-16427	6	21	operation	operation	NOUN
fbem-16427	6	22	modes	mode	NOUN
fbem-16427	6	23	and	and	CCONJ
fbem-16427	6	24	management	management	NOUN
fbem-16427	6	25	mechanisms	mechanism	NOUN
fbem-16427	6	26	,	,	PUNCT
fbem-16427	6	27	providing	provide	VERB
fbem-16427	6	28	important	important	ADJ
fbem-16427	6	29	support	support	NOUN
fbem-16427	6	30	for	for	SCONJ
fbem-16427	6	31	enterprises	enterprise	NOUN
fbem-16427	6	32	to	to	PART
fbem-16427	6	33	achieve	achieve	VERB
fbem-16427	6	34	sustainable	sustainable	ADJ
fbem-16427	6	35	and	and	CCONJ
fbem-16427	6	36	high	high	ADJ
fbem-16427	6	37	-	-	PUNCT
fbem-16427	6	38	quality	quality	NOUN
fbem-16427	6	39	development	development	NOUN
fbem-16427	6	40	.	.	PUNCT
fbem-16427	7	1	in	in	ADP
fbem-16427	7	2	addition	addition	NOUN
fbem-16427	7	3	,	,	PUNCT
fbem-16427	7	4	with	with	ADP
fbem-16427	7	5	the	the	DET
fbem-16427	7	6	deepening	deepening	NOUN
fbem-16427	7	7	of	of	ADP
fbem-16427	7	8	the	the	DET
fbem-16427	7	9	concept	concept	NOUN
fbem-16427	7	10	of	of	ADP
fbem-16427	7	11	sustainable	sustainable	ADJ
fbem-16427	7	12	development	development	NOUN
fbem-16427	7	13	,	,	PUNCT
fbem-16427	7	14	especially	especially	ADV
fbem-16427	7	15	after	after	SCONJ
fbem-16427	7	16	the	the	DET
fbem-16427	7	17	chinese	chinese	ADJ
fbem-16427	7	18	government	government	NOUN
fbem-16427	7	19	clearly	clearly	ADV
fbem-16427	7	20	proposed	propose	VERB
fbem-16427	7	21	and	and	CCONJ
fbem-16427	7	22	incorporated	incorporate	VERB
fbem-16427	7	23	the	the	DET
fbem-16427	7	24	goals	goal	NOUN
fbem-16427	7	25	of	of	ADP
fbem-16427	7	26	"	"	PUNCT
fbem-16427	7	27	carbon	carbon	NOUN
fbem-16427	7	28	peak	peak	NOUN
fbem-16427	7	29	and	and	CCONJ
fbem-16427	7	30	carbon	carbon	NOUN
fbem-16427	7	31	neutrality	neutrality	NOUN
fbem-16427	7	32	"	"	PUNCT
fbem-16427	7	33	into	into	ADP
fbem-16427	7	34	policy	policy	NOUN
fbem-16427	7	35	planning	planning	NOUN
fbem-16427	7	36	,	,	PUNCT
fbem-16427	7	37	the	the	DET
fbem-16427	7	38	society	society	NOUN
fbem-16427	7	39	's	's	PART
fbem-16427	7	40	attention	attention	NOUN
fbem-16427	7	41	to	to	ADP
fbem-16427	7	42	environmental	environmental	ADJ
fbem-16427	7	43	protection	protection	NOUN
fbem-16427	7	44	and	and	CCONJ
fbem-16427	7	45	social	social	ADJ
fbem-16427	7	46	responsibility	responsibility	NOUN
fbem-16427	7	47	has	have	AUX
fbem-16427	7	48	reached	reach	VERB
fbem-16427	7	49	an	an	DET
fbem-16427	7	50	unprecedented	unprecedented	ADJ
fbem-16427	7	51	level	level	NOUN
fbem-16427	7	52	.	.	PUNCT
fbem-16427	8	1	esg	esg	NOUN
fbem-16427	8	2	(	(	PUNCT
fbem-16427	8	3	environment	environment	NOUN
fbem-16427	8	4	,	,	PUNCT
fbem-16427	8	5	society	society	NOUN
fbem-16427	8	6	,	,	PUNCT
fbem-16427	8	7	governance	governance	NOUN
fbem-16427	8	8	)	)	PUNCT
fbem-16427	8	9	,	,	PUNCT
fbem-16427	8	10	as	as	ADP
fbem-16427	8	11	an	an	DET
fbem-16427	8	12	important	important	ADJ
fbem-16427	8	13	indicator	indicator	NOUN
fbem-16427	8	14	for	for	ADP
fbem-16427	8	15	measuring	measure	VERB
fbem-16427	8	16	non	non	ADJ
fbem-16427	8	17	-	-	ADJ
fbem-16427	8	18	financial	financial	ADJ
fbem-16427	8	19	performance	performance	NOUN
fbem-16427	8	20	of	of	ADP
fbem-16427	8	21	enterprises	enterprise	NOUN
fbem-16427	8	22	,	,	PUNCT
fbem-16427	8	23	is	be	AUX
fbem-16427	8	24	becoming	become	VERB
fbem-16427	8	25	a	a	DET
fbem-16427	8	26	key	key	ADJ
fbem-16427	8	27	factor	factor	NOUN
fbem-16427	8	28	for	for	ADP
fbem-16427	8	29	external	external	ADJ
fbem-16427	8	30	investors	investor	NOUN
fbem-16427	8	31	to	to	PART
fbem-16427	8	32	evaluate	evaluate	VERB
fbem-16427	8	33	investment	investment	NOUN
fbem-16427	8	34	risks	risk	NOUN
fbem-16427	8	35	and	and	CCONJ
fbem-16427	8	36	fulfill	fulfill	VERB
fbem-16427	8	37	social	social	ADJ
fbem-16427	8	38	responsibilities	responsibility	NOUN
fbem-16427	8	39	.	.	PUNCT
fbem-16427	9	1	in	in	ADP
fbem-16427	9	2	recent	recent	ADJ
fbem-16427	9	3	years	year	NOUN
fbem-16427	9	4	,	,	PUNCT
fbem-16427	9	5	the	the	DET
fbem-16427	9	6	chinese	chinese	ADJ
fbem-16427	9	7	government	government	NOUN
fbem-16427	9	8	has	have	AUX
fbem-16427	9	9	implemented	implement	VERB
fbem-16427	9	10	and	and	CCONJ
fbem-16427	9	11	implemented	implement	VERB
fbem-16427	9	12	a	a	DET
fbem-16427	9	13	series	series	NOUN
fbem-16427	9	14	of	of	ADP
fbem-16427	9	15	policies	policy	NOUN
fbem-16427	9	16	to	to	PART
fbem-16427	9	17	promote	promote	VERB
fbem-16427	9	18	the	the	DET
fbem-16427	9	19	esg	esg	PROPN
fbem-16427	9	20	concept	concept	NOUN
fbem-16427	9	21	,	,	PUNCT
fbem-16427	9	22	aiming	aim	VERB
fbem-16427	9	23	to	to	PART
fbem-16427	9	24	enhance	enhance	VERB
fbem-16427	9	25	the	the	DET
fbem-16427	9	26	social	social	ADJ
fbem-16427	9	27	performance	performance	NOUN
fbem-16427	9	28	and	and	CCONJ
fbem-16427	9	29	economic	economic	ADJ
fbem-16427	9	30	value	value	NOUN
fbem-16427	9	31	of	of	ADP
fbem-16427	9	32	enterprises	enterprise	NOUN
fbem-16427	9	33	,	,	PUNCT
fbem-16427	9	34	and	and	CCONJ
fbem-16427	9	35	thereby	thereby	ADV
fbem-16427	9	36	promote	promote	VERB
fbem-16427	9	37	high	high	ADJ
fbem-16427	9	38	-	-	PUNCT
fbem-16427	9	39	quality	quality	NOUN
fbem-16427	9	40	macroeconomic	macroeconomic	ADJ
fbem-16427	9	41	development	development	NOUN
fbem-16427	9	42	.	.	PUNCT
fbem-16427	10	1	therefore	therefore	ADV
fbem-16427	10	2	,	,	PUNCT
fbem-16427	10	3	studying	study	VERB
fbem-16427	10	4	how	how	SCONJ
fbem-16427	10	5	digital	digital	ADJ
fbem-16427	10	6	transformation	transformation	NOUN
fbem-16427	10	7	and	and	CCONJ
fbem-16427	10	8	esg	esg	NOUN
fbem-16427	10	9	performance	performance	NOUN
fbem-16427	10	10	affect	affect	VERB
fbem-16427	10	11	the	the	DET
fbem-16427	10	12	highquality	highquality	NOUN
fbem-16427	10	13	development	development	NOUN
fbem-16427	10	14	of	of	ADP
fbem-16427	10	15	enterprises	enterprise	NOUN
fbem-16427	10	16	has	have	VERB
fbem-16427	10	17	strong	strong	ADJ
fbem-16427	10	18	practical	practical	ADJ
fbem-16427	10	19	significance	significance	NOUN
fbem-16427	10	20	.	.	PUNCT
fbem-16427	11	1	based	base	VERB
fbem-16427	11	2	on	on	ADP
fbem-16427	11	3	this	this	PRON
fbem-16427	11	4	,	,	PUNCT
fbem-16427	11	5	this	this	DET
fbem-16427	11	6	article	article	NOUN
fbem-16427	11	7	takes	take	VERB
fbem-16427	11	8	chinese	chinese	ADJ
fbem-16427	11	9	a	a	DET
fbem-16427	11	10	-	-	PUNCT
fbem-16427	11	11	share	share	NOUN
fbem-16427	11	12	listed	list	VERB
fbem-16427	11	13	companies	company	NOUN
fbem-16427	11	14	in	in	ADP
fbem-16427	11	15	shanghai	shanghai	PROPN
fbem-16427	11	16	and	and	CCONJ
fbem-16427	11	17	shenzhen	shenzhen	PROPN
fbem-16427	11	18	from	from	ADP
fbem-16427	11	19	2012	2012	NUM
fbem-16427	11	20	to	to	ADP
fbem-16427	11	21	2022	2022	NUM
fbem-16427	11	22	as	as	ADP
fbem-16427	11	23	research	research	NOUN
fbem-16427	11	24	samples	sample	NOUN
fbem-16427	11	25	,	,	PUNCT
fbem-16427	11	26	empirically	empirically	ADV
fbem-16427	11	27	exploring	explore	VERB
fbem-16427	11	28	the	the	DET
fbem-16427	11	29	impact	impact	NOUN
fbem-16427	11	30	and	and	CCONJ
fbem-16427	11	31	internal	internal	ADJ
fbem-16427	11	32	mechanisms	mechanism	NOUN
fbem-16427	11	33	of	of	ADP
fbem-16427	11	34	digital	digital	ADJ
fbem-16427	11	35	transformation	transformation	NOUN
fbem-16427	11	36	on	on	ADP
fbem-16427	11	37	esg	esg	PROPN
fbem-16427	11	38	performance	performance	NOUN
fbem-16427	11	39	and	and	CCONJ
fbem-16427	11	40	achieving	achieve	VERB
fbem-16427	11	41	high	high	ADJ
fbem-16427	11	42	-	-	PUNCT
fbem-16427	11	43	quality	quality	NOUN
fbem-16427	11	44	development	development	NOUN
fbem-16427	11	45	of	of	ADP
fbem-16427	11	46	enterprises	enterprise	NOUN
fbem-16427	11	47	,	,	PUNCT
fbem-16427	11	48	which	which	PRON
fbem-16427	11	49	expands	expand	VERB
fbem-16427	11	50	the	the	DET
fbem-16427	11	51	research	research	NOUN
fbem-16427	11	52	perspective	perspective	NOUN
fbem-16427	11	53	of	of	ADP
fbem-16427	11	54	highquality	highquality	NOUN
fbem-16427	11	55	development	development	NOUN
fbem-16427	11	56	of	of	ADP
fbem-16427	11	57	enterprises	enterprise	NOUN
fbem-16427	11	58	.	.	PUNCT
fbem-16427	12	1	2	2	X
fbem-16427	12	2	.	.	X
fbem-16427	12	3	theoretical	theoretical	ADJ
fbem-16427	12	4	analysis	analysis	NOUN
fbem-16427	12	5	and	and	CCONJ
fbem-16427	12	6	research	research	NOUN
fbem-16427	12	7	hypotheses	hypothesis	NOUN
fbem-16427	12	8	2.1	2.1	NUM
fbem-16427	12	9	.	.	PUNCT
fbem-16427	13	1	digital	digital	ADJ
fbem-16427	13	2	transformation	transformation	NOUN
fbem-16427	13	3	and	and	CCONJ
fbem-16427	13	4	high	high	ADJ
fbem-16427	13	5	quality	quality	NOUN
fbem-16427	13	6	development	development	NOUN
fbem-16427	13	7	of	of	ADP
fbem-16427	13	8	enterprises	enterprise	NOUN
fbem-16427	13	9	nowadays	nowadays	ADV
fbem-16427	13	10	,	,	PUNCT
fbem-16427	13	11	digital	digital	ADJ
fbem-16427	13	12	transformation	transformation	NOUN
fbem-16427	13	13	has	have	AUX
fbem-16427	13	14	become	become	VERB
fbem-16427	13	15	the	the	DET
fbem-16427	13	16	core	core	NOUN
fbem-16427	13	17	driving	driving	NOUN
fbem-16427	13	18	force	force	NOUN
fbem-16427	13	19	for	for	ADP
fbem-16427	13	20	high	high	ADJ
fbem-16427	13	21	-	-	PUNCT
fbem-16427	13	22	quality	quality	NOUN
fbem-16427	13	23	development	development	NOUN
fbem-16427	13	24	of	of	ADP
fbem-16427	13	25	enterprises	enterprise	NOUN
fbem-16427	13	26	.	.	PUNCT
fbem-16427	14	1	firstly	firstly	ADV
fbem-16427	14	2	,	,	PUNCT
fbem-16427	14	3	from	from	ADP
fbem-16427	14	4	the	the	DET
fbem-16427	14	5	perspective	perspective	NOUN
fbem-16427	14	6	of	of	ADP
fbem-16427	14	7	technological	technological	ADJ
fbem-16427	14	8	innovation	innovation	NOUN
fbem-16427	14	9	,	,	PUNCT
fbem-16427	14	10	digital	digital	ADJ
fbem-16427	14	11	transformation	transformation	NOUN
fbem-16427	14	12	has	have	AUX
fbem-16427	14	13	greatly	greatly	ADV
fbem-16427	14	14	promoted	promote	VERB
fbem-16427	14	15	the	the	DET
fbem-16427	14	16	improvement	improvement	NOUN
fbem-16427	14	17	of	of	ADP
fbem-16427	14	18	enterprise	enterprise	NOUN
fbem-16427	14	19	production	production	NOUN
fbem-16427	14	20	efficiency	efficiency	NOUN
fbem-16427	14	21	and	and	CCONJ
fbem-16427	14	22	product	product	NOUN
fbem-16427	14	23	quality	quality	NOUN
fbem-16427	14	24	by	by	ADP
fbem-16427	14	25	introducing	introduce	VERB
fbem-16427	14	26	advanced	advanced	ADJ
fbem-16427	14	27	information	information	NOUN
fbem-16427	14	28	technology	technology	NOUN
fbem-16427	14	29	.	.	PUNCT
fbem-16427	15	1	the	the	DET
fbem-16427	15	2	application	application	NOUN
fbem-16427	15	3	of	of	ADP
fbem-16427	15	4	these	these	DET
fbem-16427	15	5	technologies	technology	NOUN
fbem-16427	15	6	can	can	AUX
fbem-16427	15	7	significantly	significantly	ADV
fbem-16427	15	8	reduce	reduce	VERB
fbem-16427	15	9	production	production	NOUN
fbem-16427	15	10	costs	cost	NOUN
fbem-16427	15	11	and	and	CCONJ
fbem-16427	15	12	improve	improve	VERB
fbem-16427	15	13	resource	resource	NOUN
fbem-16427	15	14	utilization	utilization	NOUN
fbem-16427	15	15	efficiency	efficiency	NOUN
fbem-16427	15	16	for	for	ADP
fbem-16427	15	17	enterprises	enterprise	NOUN
fbem-16427	15	18	,	,	PUNCT
fbem-16427	15	19	while	while	SCONJ
fbem-16427	15	20	increasing	increase	VERB
fbem-16427	15	21	market	market	NOUN
fbem-16427	15	22	share	share	NOUN
fbem-16427	15	23	and	and	CCONJ
fbem-16427	15	24	profitability	profitability	NOUN
fbem-16427	15	25	.	.	PUNCT
fbem-16427	16	1	secondly	secondly	ADV
fbem-16427	16	2	,	,	PUNCT
fbem-16427	16	3	from	from	ADP
fbem-16427	16	4	the	the	DET
fbem-16427	16	5	perspective	perspective	NOUN
fbem-16427	16	6	of	of	ADP
fbem-16427	16	7	optimizing	optimize	VERB
fbem-16427	16	8	governance	governance	NOUN
fbem-16427	16	9	efficiency	efficiency	NOUN
fbem-16427	16	10	,	,	PUNCT
fbem-16427	16	11	digital	digital	ADJ
fbem-16427	16	12	tools	tool	NOUN
fbem-16427	16	13	make	make	VERB
fbem-16427	16	14	internal	internal	ADJ
fbem-16427	16	15	resource	resource	NOUN
fbem-16427	16	16	management	management	NOUN
fbem-16427	16	17	more	more	ADV
fbem-16427	16	18	efficient	efficient	ADJ
fbem-16427	16	19	,	,	PUNCT
fbem-16427	16	20	decision	decision	NOUN
fbem-16427	16	21	-	-	PUNCT
fbem-16427	16	22	making	make	VERB
fbem-16427	16	23	processes	process	NOUN
fbem-16427	16	24	transparent	transparent	ADJ
fbem-16427	16	25	and	and	CCONJ
fbem-16427	16	26	precise	precise	ADJ
fbem-16427	16	27	,	,	PUNCT
fbem-16427	16	28	which	which	PRON
fbem-16427	16	29	helps	help	VERB
fbem-16427	16	30	to	to	PART
fbem-16427	16	31	enhance	enhance	VERB
fbem-16427	16	32	the	the	DET
fbem-16427	16	33	flexibility	flexibility	NOUN
fbem-16427	16	34	and	and	CCONJ
fbem-16427	16	35	market	market	NOUN
fbem-16427	16	36	adaptability	adaptability	NOUN
fbem-16427	16	37	of	of	ADP
fbem-16427	16	38	enterprises	enterprise	NOUN
fbem-16427	16	39	.	.	PUNCT
fbem-16427	17	1	finally	finally	ADV
fbem-16427	17	2	,	,	PUNCT
fbem-16427	17	3	from	from	ADP
fbem-16427	17	4	the	the	DET
fbem-16427	17	5	perspective	perspective	NOUN
fbem-16427	17	6	of	of	ADP
fbem-16427	17	7	resource	resource	NOUN
fbem-16427	17	8	allocation	allocation	NOUN
fbem-16427	17	9	,	,	PUNCT
fbem-16427	17	10	digital	digital	ADJ
fbem-16427	17	11	transformation	transformation	NOUN
fbem-16427	17	12	enables	enable	VERB
fbem-16427	17	13	enterprises	enterprise	NOUN
fbem-16427	17	14	to	to	PART
fbem-16427	17	15	allocate	allocate	VERB
fbem-16427	17	16	and	and	CCONJ
fbem-16427	17	17	utilize	utilize	VERB
fbem-16427	17	18	resources	resource	NOUN
fbem-16427	17	19	more	more	ADV
fbem-16427	17	20	accurately	accurately	ADV
fbem-16427	17	21	.	.	PUNCT
fbem-16427	18	1	especially	especially	ADV
fbem-16427	18	2	in	in	ADP
fbem-16427	18	3	the	the	DET
fbem-16427	18	4	manufacturing	manufacturing	NOUN
fbem-16427	18	5	industry	industry	NOUN
fbem-16427	18	6	,	,	PUNCT
fbem-16427	18	7	the	the	DET
fbem-16427	18	8	application	application	NOUN
fbem-16427	18	9	of	of	ADP
fbem-16427	18	10	digital	digital	ADJ
fbem-16427	18	11	technology	technology	NOUN
fbem-16427	18	12	has	have	AUX
fbem-16427	18	13	optimized	optimize	VERB
fbem-16427	18	14	inventory	inventory	NOUN
fbem-16427	18	15	management	management	NOUN
fbem-16427	18	16	,	,	PUNCT
fbem-16427	18	17	reduced	reduce	VERB
fbem-16427	18	18	inventory	inventory	NOUN
fbem-16427	18	19	costs	cost	NOUN
fbem-16427	18	20	,	,	PUNCT
fbem-16427	18	21	and	and	CCONJ
fbem-16427	18	22	improved	improve	VERB
fbem-16427	18	23	the	the	DET
fbem-16427	18	24	liquidity	liquidity	NOUN
fbem-16427	18	25	and	and	CCONJ
fbem-16427	18	26	turnover	turnover	NOUN
fbem-16427	18	27	efficiency	efficiency	NOUN
fbem-16427	18	28	of	of	ADP
fbem-16427	18	29	funds	fund	NOUN
fbem-16427	18	30	.	.	PUNCT
fbem-16427	19	1	in	in	ADP
fbem-16427	19	2	addition	addition	NOUN
fbem-16427	19	3	,	,	PUNCT
fbem-16427	19	4	in	in	ADP
fbem-16427	19	5	optimizing	optimize	VERB
fbem-16427	19	6	corporate	corporate	ADJ
fbem-16427	19	7	social	social	ADJ
fbem-16427	19	8	responsibility	responsibility	NOUN
fbem-16427	19	9	practices	practice	NOUN
fbem-16427	19	10	and	and	CCONJ
fbem-16427	19	11	promoting	promote	VERB
fbem-16427	19	12	the	the	DET
fbem-16427	19	13	achievement	achievement	NOUN
fbem-16427	19	14	of	of	ADP
fbem-16427	19	15	sustainable	sustainable	ADJ
fbem-16427	19	16	development	development	NOUN
fbem-16427	19	17	goals	goal	NOUN
fbem-16427	19	18	.	.	PUNCT
fbem-16427	20	1	by	by	ADP
fbem-16427	20	2	utilizing	utilize	VERB
fbem-16427	20	3	technologies	technology	NOUN
fbem-16427	20	4	such	such	ADJ
fbem-16427	20	5	as	as	ADP
fbem-16427	20	6	big	big	ADJ
fbem-16427	20	7	data	datum	NOUN
fbem-16427	20	8	and	and	CCONJ
fbem-16427	20	9	cloud	cloud	NOUN
fbem-16427	20	10	computing	computing	NOUN
fbem-16427	20	11	,	,	PUNCT
fbem-16427	20	12	enterprises	enterprise	NOUN
fbem-16427	20	13	can	can	AUX
fbem-16427	20	14	collect	collect	VERB
fbem-16427	20	15	and	and	CCONJ
fbem-16427	20	16	analyze	analyze	VERB
fbem-16427	20	17	a	a	DET
fbem-16427	20	18	large	large	ADJ
fbem-16427	20	19	amount	amount	NOUN
fbem-16427	20	20	of	of	ADP
fbem-16427	20	21	data	datum	NOUN
fbem-16427	20	22	on	on	ADP
fbem-16427	20	23	environmental	environmental	ADJ
fbem-16427	20	24	impacts	impact	NOUN
fbem-16427	20	25	,	,	PUNCT
fbem-16427	20	26	thereby	thereby	ADV
fbem-16427	20	27	more	more	ADV
fbem-16427	20	28	accurately	accurately	ADV
fbem-16427	20	29	assessing	assess	VERB
fbem-16427	20	30	the	the	DET
fbem-16427	20	31	impact	impact	NOUN
fbem-16427	20	32	of	of	ADP
fbem-16427	20	33	their	their	PRON
fbem-16427	20	34	business	business	NOUN
fbem-16427	20	35	activities	activity	NOUN
fbem-16427	20	36	on	on	ADP
fbem-16427	20	37	the	the	DET
fbem-16427	20	38	environment	environment	NOUN
fbem-16427	20	39	.	.	PUNCT
fbem-16427	21	1	these	these	DET
fbem-16427	21	2	pieces	piece	NOUN
fbem-16427	21	3	of	of	ADP
fbem-16427	21	4	information	information	NOUN
fbem-16427	21	5	not	not	PART
fbem-16427	21	6	only	only	ADV
fbem-16427	21	7	help	help	VERB
fbem-16427	21	8	companies	company	NOUN
fbem-16427	21	9	optimize	optimize	VERB
fbem-16427	21	10	their	their	PRON
fbem-16427	21	11	existing	exist	VERB
fbem-16427	21	12	environmental	environmental	ADJ
fbem-16427	21	13	protection	protection	NOUN
fbem-16427	21	14	measures	measure	NOUN
fbem-16427	21	15	,	,	PUNCT
fbem-16427	21	16	but	but	CCONJ
fbem-16427	21	17	also	also	ADV
fbem-16427	21	18	help	help	VERB
fbem-16427	21	19	them	they	PRON
fbem-16427	21	20	develop	develop	VERB
fbem-16427	21	21	more	more	ADV
fbem-16427	21	22	effective	effective	ADJ
fbem-16427	21	23	longterm	longterm	ADJ
fbem-16427	21	24	environmental	environmental	ADJ
fbem-16427	21	25	strategies	strategy	NOUN
fbem-16427	21	26	,	,	PUNCT
fbem-16427	21	27	which	which	PRON
fbem-16427	21	28	is	be	AUX
fbem-16427	21	29	precisely	precisely	ADV
fbem-16427	21	30	the	the	DET
fbem-16427	21	31	highquality	highquality	NOUN
fbem-16427	21	32	development	development	NOUN
fbem-16427	21	33	connotation	connotation	NOUN
fbem-16427	21	34	of	of	ADP
fbem-16427	21	35	"	"	PUNCT
fbem-16427	21	36	green	green	ADJ
fbem-16427	21	37	and	and	CCONJ
fbem-16427	21	38	sharing	sharing	NOUN
fbem-16427	21	39	"	"	PUNCT
fbem-16427	21	40	.	.	PUNCT
fbem-16427	22	1	based	base	VERB
fbem-16427	22	2	on	on	ADP
fbem-16427	22	3	the	the	DET
fbem-16427	22	4	above	above	ADJ
fbem-16427	22	5	analysis	analysis	NOUN
fbem-16427	22	6	,	,	PUNCT
fbem-16427	22	7	this	this	DET
fbem-16427	22	8	article	article	NOUN
fbem-16427	22	9	proposes	propose	VERB
fbem-16427	22	10	hypothesis	hypothesis	NOUN
fbem-16427	22	11	1	1	NUM
fbem-16427	22	12	:	:	PUNCT
fbem-16427	22	13	digital	digital	ADJ
fbem-16427	22	14	transformation	transformation	NOUN
fbem-16427	22	15	has	have	VERB
fbem-16427	22	16	a	a	DET
fbem-16427	22	17	positive	positive	ADJ
fbem-16427	22	18	impact	impact	NOUN
fbem-16427	22	19	on	on	ADP
fbem-16427	22	20	the	the	DET
fbem-16427	22	21	highquality	highquality	NOUN
fbem-16427	22	22	development	development	NOUN
fbem-16427	22	23	of	of	ADP
fbem-16427	22	24	enterprises	enterprise	NOUN
fbem-16427	22	25	.	.	PUNCT
fbem-16427	23	1	7	7	NUM
fbem-16427	23	2	2.2	2.2	NUM
fbem-16427	23	3	.	.	PUNCT
fbem-16427	24	1	digital	digital	ADJ
fbem-16427	24	2	transformation	transformation	NOUN
fbem-16427	24	3	,	,	PUNCT
fbem-16427	24	4	esg	esg	NOUN
fbem-16427	24	5	performance	performance	NOUN
fbem-16427	24	6	,	,	PUNCT
fbem-16427	24	7	and	and	CCONJ
fbem-16427	24	8	high	high	ADJ
fbem-16427	24	9	quality	quality	NOUN
fbem-16427	24	10	development	development	NOUN
fbem-16427	24	11	of	of	ADP
fbem-16427	24	12	enterprises	enterprise	NOUN
fbem-16427	24	13	the	the	DET
fbem-16427	24	14	introduction	introduction	NOUN
fbem-16427	24	15	and	and	CCONJ
fbem-16427	24	16	application	application	NOUN
fbem-16427	24	17	of	of	ADP
fbem-16427	24	18	advanced	advanced	ADJ
fbem-16427	24	19	digital	digital	ADJ
fbem-16427	24	20	technology	technology	NOUN
fbem-16427	24	21	by	by	ADP
fbem-16427	24	22	enterprises	enterprise	NOUN
fbem-16427	24	23	will	will	AUX
fbem-16427	24	24	have	have	VERB
fbem-16427	24	25	a	a	DET
fbem-16427	24	26	fundamental	fundamental	ADJ
fbem-16427	24	27	impact	impact	NOUN
fbem-16427	24	28	on	on	ADP
fbem-16427	24	29	their	their	PRON
fbem-16427	24	30	business	business	NOUN
fbem-16427	24	31	models	model	NOUN
fbem-16427	24	32	,	,	PUNCT
fbem-16427	24	33	production	production	NOUN
fbem-16427	24	34	processes	process	NOUN
fbem-16427	24	35	,	,	PUNCT
fbem-16427	24	36	and	and	CCONJ
fbem-16427	24	37	management	management	NOUN
fbem-16427	24	38	methods	method	NOUN
fbem-16427	24	39	.	.	PUNCT
fbem-16427	25	1	these	these	DET
fbem-16427	25	2	impacts	impact	NOUN
fbem-16427	25	3	are	be	AUX
fbem-16427	25	4	not	not	PART
fbem-16427	25	5	only	only	ADV
fbem-16427	25	6	directly	directly	ADV
fbem-16427	25	7	reflected	reflect	VERB
fbem-16427	25	8	in	in	ADP
fbem-16427	25	9	improving	improve	VERB
fbem-16427	25	10	operational	operational	ADJ
fbem-16427	25	11	efficiency	efficiency	NOUN
fbem-16427	25	12	and	and	CCONJ
fbem-16427	25	13	optimizing	optimize	VERB
fbem-16427	25	14	resource	resource	NOUN
fbem-16427	25	15	allocation	allocation	NOUN
fbem-16427	25	16	,	,	PUNCT
fbem-16427	25	17	but	but	CCONJ
fbem-16427	25	18	also	also	ADV
fbem-16427	25	19	indirectly	indirectly	ADV
fbem-16427	25	20	affect	affect	VERB
fbem-16427	25	21	the	the	DET
fbem-16427	25	22	total	total	ADJ
fbem-16427	25	23	factor	factor	NOUN
fbem-16427	25	24	productivity	productivity	NOUN
fbem-16427	25	25	of	of	ADP
fbem-16427	25	26	enterprises	enterprise	NOUN
fbem-16427	25	27	by	by	ADP
fbem-16427	25	28	improving	improve	VERB
fbem-16427	25	29	their	their	PRON
fbem-16427	25	30	esg	esg	NOUN
fbem-16427	25	31	performance	performance	NOUN
fbem-16427	25	32	.	.	PUNCT
fbem-16427	26	1	on	on	ADP
fbem-16427	26	2	the	the	DET
fbem-16427	26	3	one	one	NUM
fbem-16427	26	4	hand	hand	NOUN
fbem-16427	26	5	,	,	PUNCT
fbem-16427	26	6	through	through	ADP
fbem-16427	26	7	data	data	NOUN
fbem-16427	26	8	-	-	PUNCT
fbem-16427	26	9	driven	drive	VERB
fbem-16427	26	10	resource	resource	NOUN
fbem-16427	26	11	management	management	NOUN
fbem-16427	26	12	and	and	CCONJ
fbem-16427	26	13	intelligent	intelligent	ADJ
fbem-16427	26	14	production	production	NOUN
fbem-16427	26	15	processes	process	NOUN
fbem-16427	26	16	,	,	PUNCT
fbem-16427	26	17	enterprises	enterprise	NOUN
fbem-16427	26	18	can	can	AUX
fbem-16427	26	19	more	more	ADV
fbem-16427	26	20	effectively	effectively	ADV
fbem-16427	26	21	reduce	reduce	VERB
fbem-16427	26	22	energy	energy	NOUN
fbem-16427	26	23	consumption	consumption	NOUN
fbem-16427	26	24	and	and	CCONJ
fbem-16427	26	25	waste	waste	NOUN
fbem-16427	26	26	emissions	emission	NOUN
fbem-16427	26	27	,	,	PUNCT
fbem-16427	26	28	and	and	CCONJ
fbem-16427	26	29	improve	improve	VERB
fbem-16427	26	30	the	the	DET
fbem-16427	26	31	efficiency	efficiency	NOUN
fbem-16427	26	32	of	of	ADP
fbem-16427	26	33	energy	energy	NOUN
fbem-16427	26	34	and	and	CCONJ
fbem-16427	26	35	raw	raw	ADJ
fbem-16427	26	36	material	material	NOUN
fbem-16427	26	37	utilization	utilization	NOUN
fbem-16427	26	38	.	.	PUNCT
fbem-16427	27	1	in	in	ADP
fbem-16427	27	2	this	this	DET
fbem-16427	27	3	context	context	NOUN
fbem-16427	27	4	,	,	PUNCT
fbem-16427	27	5	long	long	ADJ
fbem-16427	27	6	-	-	PUNCT
fbem-16427	27	7	term	term	NOUN
fbem-16427	27	8	investors	investor	NOUN
fbem-16427	27	9	are	be	AUX
fbem-16427	27	10	more	more	ADV
fbem-16427	27	11	willing	willing	ADJ
fbem-16427	27	12	to	to	PART
fbem-16427	27	13	invest	invest	VERB
fbem-16427	27	14	in	in	ADP
fbem-16427	27	15	companies	company	NOUN
fbem-16427	27	16	with	with	ADP
fbem-16427	27	17	good	good	ADJ
fbem-16427	27	18	esg	esg	PROPN
fbem-16427	27	19	performance	performance	NOUN
fbem-16427	27	20	,	,	PUNCT
fbem-16427	27	21	thereby	thereby	ADV
fbem-16427	27	22	promoting	promote	VERB
fbem-16427	27	23	green	green	ADJ
fbem-16427	27	24	innovation	innovation	NOUN
fbem-16427	27	25	and	and	CCONJ
fbem-16427	27	26	gaining	gain	VERB
fbem-16427	27	27	market	market	NOUN
fbem-16427	27	28	competitive	competitive	ADJ
fbem-16427	27	29	advantages	advantage	NOUN
fbem-16427	27	30	.	.	PUNCT
fbem-16427	28	1	in	in	ADP
fbem-16427	28	2	addition	addition	NOUN
fbem-16427	28	3	,	,	PUNCT
fbem-16427	28	4	digital	digital	ADJ
fbem-16427	28	5	transformation	transformation	NOUN
fbem-16427	28	6	has	have	AUX
fbem-16427	28	7	optimized	optimize	VERB
fbem-16427	28	8	the	the	DET
fbem-16427	28	9	corporate	corporate	ADJ
fbem-16427	28	10	governance	governance	NOUN
fbem-16427	28	11	structure	structure	NOUN
fbem-16427	28	12	of	of	ADP
fbem-16427	28	13	enterprises	enterprise	NOUN
fbem-16427	28	14	.	.	PUNCT
fbem-16427	29	1	by	by	ADP
fbem-16427	29	2	establishing	establish	VERB
fbem-16427	29	3	efficient	efficient	ADJ
fbem-16427	29	4	information	information	NOUN
fbem-16427	29	5	management	management	NOUN
fbem-16427	29	6	systems	system	NOUN
fbem-16427	29	7	and	and	CCONJ
fbem-16427	29	8	improving	improve	VERB
fbem-16427	29	9	decision	decision	NOUN
fbem-16427	29	10	-	-	PUNCT
fbem-16427	29	11	making	make	VERB
fbem-16427	29	12	transparency	transparency	NOUN
fbem-16427	29	13	,	,	PUNCT
fbem-16427	29	14	digital	digital	ADJ
fbem-16427	29	15	transformation	transformation	NOUN
fbem-16427	29	16	helps	help	VERB
fbem-16427	29	17	enterprises	enterprise	NOUN
fbem-16427	29	18	improve	improve	VERB
fbem-16427	29	19	internal	internal	ADJ
fbem-16427	29	20	control	control	NOUN
fbem-16427	29	21	and	and	CCONJ
fbem-16427	29	22	supervision	supervision	NOUN
fbem-16427	29	23	mechanisms	mechanism	NOUN
fbem-16427	29	24	,	,	PUNCT
fbem-16427	29	25	reduce	reduce	VERB
fbem-16427	29	26	agency	agency	NOUN
fbem-16427	29	27	problems	problem	NOUN
fbem-16427	29	28	,	,	PUNCT
fbem-16427	29	29	improve	improve	VERB
fbem-16427	29	30	management	management	NOUN
fbem-16427	29	31	efficiency	efficiency	NOUN
fbem-16427	29	32	,	,	PUNCT
fbem-16427	29	33	and	and	CCONJ
fbem-16427	29	34	promote	promote	VERB
fbem-16427	29	35	high	high	ADJ
fbem-16427	29	36	-	-	PUNCT
fbem-16427	29	37	quality	quality	NOUN
fbem-16427	29	38	development	development	NOUN
fbem-16427	29	39	in	in	ADP
fbem-16427	29	40	governance	governance	NOUN
fbem-16427	29	41	.	.	PUNCT
fbem-16427	30	1	therefore	therefore	ADV
fbem-16427	30	2	,	,	PUNCT
fbem-16427	30	3	based	base	VERB
fbem-16427	30	4	on	on	ADP
fbem-16427	30	5	the	the	DET
fbem-16427	30	6	above	above	ADJ
fbem-16427	30	7	analysis	analysis	NOUN
fbem-16427	30	8	,	,	PUNCT
fbem-16427	30	9	this	this	DET
fbem-16427	30	10	article	article	NOUN
fbem-16427	30	11	proposes	propose	VERB
fbem-16427	30	12	hypothesis	hypothesis	NOUN
fbem-16427	30	13	2	2	NUM
fbem-16427	30	14	:	:	PUNCT
fbem-16427	30	15	digital	digital	ADJ
fbem-16427	30	16	transformation	transformation	NOUN
fbem-16427	30	17	can	can	AUX
fbem-16427	30	18	drive	drive	VERB
fbem-16427	30	19	high	high	ADJ
fbem-16427	30	20	-	-	PUNCT
fbem-16427	30	21	quality	quality	NOUN
fbem-16427	30	22	development	development	NOUN
fbem-16427	30	23	of	of	ADP
fbem-16427	30	24	enterprises	enterprise	NOUN
fbem-16427	30	25	by	by	ADP
fbem-16427	30	26	improving	improve	VERB
fbem-16427	30	27	their	their	PRON
fbem-16427	30	28	esg	esg	NOUN
fbem-16427	30	29	performance	performance	NOUN
fbem-16427	30	30	.	.	PUNCT
fbem-16427	31	1	3	3	X
fbem-16427	31	2	.	.	X
fbem-16427	31	3	research	research	NOUN
fbem-16427	31	4	design	design	PROPN
fbem-16427	31	5	3.1	3.1	NUM
fbem-16427	31	6	.	.	PUNCT
fbem-16427	32	1	samples	sample	NOUN
fbem-16427	32	2	and	and	CCONJ
fbem-16427	32	3	data	datum	NOUN
fbem-16427	32	4	this	this	DET
fbem-16427	32	5	article	article	NOUN
fbem-16427	32	6	selects	select	VERB
fbem-16427	32	7	chinese	chinese	ADJ
fbem-16427	32	8	a	a	PROPN
fbem-16427	32	9	-	-	PUNCT
fbem-16427	32	10	share	share	NOUN
fbem-16427	32	11	listed	list	VERB
fbem-16427	32	12	companies	company	NOUN
fbem-16427	32	13	from	from	ADP
fbem-16427	32	14	2012	2012	NUM
fbem-16427	32	15	to	to	ADP
fbem-16427	32	16	2022	2022	NUM
fbem-16427	32	17	as	as	ADP
fbem-16427	32	18	the	the	DET
fbem-16427	32	19	research	research	NOUN
fbem-16427	32	20	object	object	NOUN
fbem-16427	32	21	and	and	CCONJ
fbem-16427	32	22	conducts	conduct	VERB
fbem-16427	32	23	the	the	DET
fbem-16427	32	24	following	follow	VERB
fbem-16427	32	25	sample	sample	NOUN
fbem-16427	32	26	screening	screening	NOUN
fbem-16427	32	27	:	:	PUNCT
fbem-16427	32	28	(	(	PUNCT
fbem-16427	32	29	1	1	X
fbem-16427	32	30	)	)	PUNCT
fbem-16427	32	31	excluding	exclude	VERB
fbem-16427	32	32	st	st	PROPN
fbem-16427	32	33	and	and	CCONJ
fbem-16427	32	34	*	*	PROPN
fbem-16427	32	35	st	st	PROPN
fbem-16427	32	36	category	category	NOUN
fbem-16427	32	37	companies	company	NOUN
fbem-16427	32	38	during	during	ADP
fbem-16427	32	39	the	the	DET
fbem-16427	32	40	data	data	NOUN
fbem-16427	32	41	collection	collection	NOUN
fbem-16427	32	42	period	period	NOUN
fbem-16427	32	43	;	;	PUNCT
fbem-16427	32	44	(	(	PUNCT
fbem-16427	32	45	2	2	X
fbem-16427	32	46	)	)	PUNCT
fbem-16427	32	47	excluding	exclude	VERB
fbem-16427	32	48	financial	financial	ADJ
fbem-16427	32	49	industry	industry	NOUN
fbem-16427	32	50	enterprises	enterprise	NOUN
fbem-16427	32	51	;	;	PUNCT
fbem-16427	32	52	(	(	PUNCT
fbem-16427	32	53	3	3	X
fbem-16427	32	54	)	)	PUNCT
fbem-16427	32	55	remove	remove	VERB
fbem-16427	32	56	samples	sample	NOUN
fbem-16427	32	57	with	with	ADP
fbem-16427	32	58	missing	miss	VERB
fbem-16427	32	59	key	key	ADJ
fbem-16427	32	60	data	datum	NOUN
fbem-16427	32	61	;	;	PUNCT
fbem-16427	32	62	the	the	DET
fbem-16427	32	63	final	final	ADJ
fbem-16427	32	64	screening	screening	NOUN
fbem-16427	32	65	obtained	obtain	VERB
fbem-16427	32	66	3964	3964	NUM
fbem-16427	32	67	enterprises	enterprise	NOUN
fbem-16427	32	68	and	and	CCONJ
fbem-16427	32	69	19061	19061	NUM
fbem-16427	32	70	annual	annual	ADJ
fbem-16427	32	71	sample	sample	NOUN
fbem-16427	32	72	observations	observation	NOUN
fbem-16427	32	73	,	,	PUNCT
fbem-16427	32	74	with	with	ADP
fbem-16427	32	75	the	the	DET
fbem-16427	32	76	sample	sample	NOUN
fbem-16427	32	77	data	datum	NOUN
fbem-16427	32	78	being	be	AUX
fbem-16427	32	79	imbalanced	imbalanced	ADJ
fbem-16427	32	80	panel	panel	NOUN
fbem-16427	32	81	data	datum	NOUN
fbem-16427	32	82	.	.	PUNCT
fbem-16427	33	1	the	the	DET
fbem-16427	33	2	data	datum	NOUN
fbem-16427	33	3	mainly	mainly	ADV
fbem-16427	33	4	comes	come	VERB
fbem-16427	33	5	from	from	ADP
fbem-16427	33	6	csmar	csmar	PROPN
fbem-16427	33	7	,	,	PUNCT
fbem-16427	33	8	wind	wind	NOUN
fbem-16427	33	9	,	,	PUNCT
fbem-16427	33	10	and	and	CCONJ
fbem-16427	33	11	cnrds	cnrds	ADJ
fbem-16427	33	12	databases	database	NOUN
fbem-16427	33	13	.	.	PUNCT
fbem-16427	34	1	3.2	3.2	NUM
fbem-16427	34	2	.	.	PUNCT
fbem-16427	35	1	variable	variable	ADJ
fbem-16427	35	2	definition	definition	NOUN
fbem-16427	35	3	high	high	ADJ
fbem-16427	35	4	quality	quality	NOUN
fbem-16427	35	5	development	development	NOUN
fbem-16427	35	6	of	of	ADP
fbem-16427	35	7	enterprises	enterprise	NOUN
fbem-16427	35	8	(	(	PUNCT
fbem-16427	35	9	hq	hq	NOUN
fbem-16427	35	10	)	)	PUNCT
fbem-16427	35	11	is	be	AUX
fbem-16427	35	12	the	the	DET
fbem-16427	35	13	dependent	dependent	ADJ
fbem-16427	35	14	variable	variable	NOUN
fbem-16427	35	15	,	,	PUNCT
fbem-16427	35	16	which	which	PRON
fbem-16427	35	17	refers	refer	VERB
fbem-16427	35	18	to	to	ADP
fbem-16427	35	19	the	the	DET
fbem-16427	35	20	approach	approach	NOUN
fbem-16427	35	21	of	of	ADP
fbem-16427	35	22	tian	tian	PROPN
fbem-16427	35	23	and	and	CCONJ
fbem-16427	35	24	ding	ding	NOUN
fbem-16427	35	25	(	(	PUNCT
fbem-16427	35	26	2023	2023	NUM
fbem-16427	35	27	)	)	PUNCT
fbem-16427	35	28	and	and	CCONJ
fbem-16427	35	29	comprehensively	comprehensively	ADV
fbem-16427	35	30	measures	measure	VERB
fbem-16427	35	31	both	both	DET
fbem-16427	35	32	goals	goal	NOUN
fbem-16427	35	33	and	and	CCONJ
fbem-16427	35	34	processes	process	NOUN
fbem-16427	35	35	.	.	PUNCT
fbem-16427	36	1	in	in	ADP
fbem-16427	36	2	terms	term	NOUN
fbem-16427	36	3	of	of	ADP
fbem-16427	36	4	goal	goal	NOUN
fbem-16427	36	5	orientation	orientation	NOUN
fbem-16427	36	6	,	,	PUNCT
fbem-16427	36	7	it	it	PRON
fbem-16427	36	8	mainly	mainly	ADV
fbem-16427	36	9	includes	include	VERB
fbem-16427	36	10	three	three	NUM
fbem-16427	36	11	sub	sub	NOUN
fbem-16427	36	12	dimensions	dimension	NOUN
fbem-16427	36	13	:	:	PUNCT
fbem-16427	36	14	quality	quality	NOUN
fbem-16427	36	15	and	and	CCONJ
fbem-16427	36	16	efficiency	efficiency	NOUN
fbem-16427	36	17	,	,	PUNCT
fbem-16427	36	18	green	green	ADJ
fbem-16427	36	19	development	development	NOUN
fbem-16427	36	20	,	,	PUNCT
fbem-16427	36	21	and	and	CCONJ
fbem-16427	36	22	social	social	ADJ
fbem-16427	36	23	sharing	sharing	NOUN
fbem-16427	36	24	.	.	PUNCT
fbem-16427	37	1	in	in	ADP
fbem-16427	37	2	terms	term	NOUN
fbem-16427	37	3	of	of	ADP
fbem-16427	37	4	process	process	NOUN
fbem-16427	37	5	orientation	orientation	NOUN
fbem-16427	37	6	,	,	PUNCT
fbem-16427	37	7	emphasize	emphasize	VERB
fbem-16427	37	8	the	the	DET
fbem-16427	37	9	importance	importance	NOUN
fbem-16427	37	10	of	of	ADP
fbem-16427	37	11	enterprise	enterprise	NOUN
fbem-16427	37	12	innovation	innovation	NOUN
fbem-16427	37	13	,	,	PUNCT
fbem-16427	37	14	corporate	corporate	ADJ
fbem-16427	37	15	governance	governance	NOUN
fbem-16427	37	16	,	,	PUNCT
fbem-16427	37	17	and	and	CCONJ
fbem-16427	37	18	risk	risk	NOUN
fbem-16427	37	19	management	management	NOUN
fbem-16427	37	20	.	.	PUNCT
fbem-16427	38	1	finally	finally	ADV
fbem-16427	38	2	,	,	PUNCT
fbem-16427	38	3	the	the	DET
fbem-16427	38	4	entropy	entropy	NOUN
fbem-16427	38	5	method	method	NOUN
fbem-16427	38	6	was	be	AUX
fbem-16427	38	7	used	use	VERB
fbem-16427	38	8	to	to	PART
fbem-16427	38	9	determine	determine	VERB
fbem-16427	38	10	the	the	DET
fbem-16427	38	11	weights	weight	NOUN
fbem-16427	38	12	and	and	CCONJ
fbem-16427	38	13	comprehensive	comprehensive	ADJ
fbem-16427	38	14	scores	score	NOUN
fbem-16427	38	15	of	of	ADP
fbem-16427	38	16	various	various	ADJ
fbem-16427	38	17	indicators	indicator	NOUN
fbem-16427	38	18	for	for	ADP
fbem-16427	38	19	high	high	ADJ
fbem-16427	38	20	-	-	PUNCT
fbem-16427	38	21	quality	quality	NOUN
fbem-16427	38	22	development	development	NOUN
fbem-16427	38	23	of	of	ADP
fbem-16427	38	24	the	the	DET
fbem-16427	38	25	enterprise	enterprise	NOUN
fbem-16427	38	26	,	,	PUNCT
fbem-16427	38	27	as	as	SCONJ
fbem-16427	38	28	shown	show	VERB
fbem-16427	38	29	in	in	ADP
fbem-16427	38	30	table	table	NOUN
fbem-16427	38	31	1	1	NUM
fbem-16427	38	32	.	.	PUNCT
fbem-16427	38	33	table	table	NOUN
fbem-16427	38	34	1	1	NUM
fbem-16427	38	35	.	.	X
fbem-16427	38	36	weighting	weight	VERB
fbem-16427	38	37	measurement	measurement	NOUN
fbem-16427	38	38	of	of	ADP
fbem-16427	38	39	high	high	ADJ
fbem-16427	38	40	-	-	PUNCT
fbem-16427	38	41	quality	quality	NOUN
fbem-16427	38	42	development	development	NOUN
fbem-16427	38	43	indicators	indicator	NOUN
fbem-16427	38	44	primary	primary	ADJ
fbem-16427	38	45	indicators	indicator	NOUN
fbem-16427	38	46	secondary	secondary	ADJ
fbem-16427	38	47	indicators	indicator	NOUN
fbem-16427	38	48	third	third	ADJ
fbem-16427	38	49	level	level	NOUN
fbem-16427	38	50	indicators	indicator	NOUN
fbem-16427	38	51	weight(%	weight(%	NOUN
fbem-16427	38	52	)	)	PUNCT
fbem-16427	38	53	quality	quality	NOUN
fbem-16427	38	54	benefits	benefit	NOUN
fbem-16427	38	55	profitability	profitability	NOUN
fbem-16427	38	56	roa	roa	PROPN
fbem-16427	38	57	0.30	0.30	NUM
fbem-16427	38	58	growth	growth	NOUN
fbem-16427	38	59	ability	ability	NOUN
fbem-16427	38	60	revenue	revenue	NOUN
fbem-16427	38	61	growth	growth	NOUN
fbem-16427	38	62	rate	rate	NOUN
fbem-16427	38	63	0.58	0.58	NUM
fbem-16427	38	64	market	market	NOUN
fbem-16427	38	65	performance	performance	NOUN
fbem-16427	38	66	p	p	X
fbem-16427	38	67	/	/	SYM
fbem-16427	38	68	e	e	NOUN
fbem-16427	38	69	ratio	ratio	NOUN
fbem-16427	38	70	4.72	4.72	NUM
fbem-16427	38	71	tobin	tobin	NOUN
fbem-16427	38	72	q	q	PROPN
fbem-16427	38	73	4.32	4.32	NUM
fbem-16427	38	74	debt	debt	NOUN
fbem-16427	38	75	paying	pay	VERB
fbem-16427	38	76	ability	ability	NOUN
fbem-16427	38	77	asset	asset	NOUN
fbem-16427	38	78	liability	liability	NOUN
fbem-16427	38	79	ratio	ratio	NOUN
fbem-16427	38	80	11.35	11.35	NUM
fbem-16427	38	81	current	current	ADJ
fbem-16427	38	82	ratio	ratio	NOUN
fbem-16427	38	83	13.60	13.60	NUM
fbem-16427	38	84	operational	operational	ADJ
fbem-16427	38	85	capability	capability	NOUN
fbem-16427	38	86	total	total	NOUN
fbem-16427	38	87	asset	asset	NOUN
fbem-16427	38	88	turnover	turnover	NOUN
fbem-16427	38	89	rate	rate	NOUN
fbem-16427	38	90	6.33	6.33	NUM
fbem-16427	38	91	green	green	ADJ
fbem-16427	38	92	development	development	PROPN
fbem-16427	38	93	cnrds	cnrds	PROPN
fbem-16427	38	94	esg	esg	PROPN
fbem-16427	38	95	rating	rating	NOUN
fbem-16427	38	96	environment	environment	NOUN
fbem-16427	38	97	dimension	dimension	NOUN
fbem-16427	38	98	score	score	NOUN
fbem-16427	38	99	7.11	7.11	NUM
fbem-16427	38	100	social	social	ADJ
fbem-16427	38	101	sharing	sharing	NOUN
fbem-16427	38	102	cnrds	cnrd	NOUN
fbem-16427	38	103	esg	esg	NOUN
fbem-16427	38	104	rating	rating	NOUN
fbem-16427	38	105	social	social	ADJ
fbem-16427	38	106	dimension	dimension	NOUN
fbem-16427	38	107	score	score	NOUN
fbem-16427	38	108	11.21	11.21	NUM
fbem-16427	38	109	innovation	innovation	NOUN
fbem-16427	38	110	driven	drive	VERB
fbem-16427	38	111	r&d	r&d	NOUN
fbem-16427	38	112	intensity	intensity	NOUN
fbem-16427	38	113	_	_	PUNCT
fbem-16427	38	114	cost	cost	VERB
fbem-16427	38	115	8.49	8.49	NUM
fbem-16427	38	116	r&d	r&d	NOUN
fbem-16427	38	117	intensity	intensity	NOUN
fbem-16427	38	118	_	_	PUNCT
fbem-16427	38	119	personnel	personnel	NOUN
fbem-16427	38	120	6.33	6.33	NUM
fbem-16427	38	121	r&d	r&d	NOUN
fbem-16427	38	122	investment	investment	NOUN
fbem-16427	38	123	1.94	1.94	NUM
fbem-16427	38	124	r&d	r&d	NOUN
fbem-16427	38	125	personnel	personnel	NOUN
fbem-16427	38	126	3.05	3.05	NUM
fbem-16427	38	127	risk	risk	NOUN
fbem-16427	38	128	management	management	NOUN
fbem-16427	38	129	dibo	dibo	NOUN
fbem-16427	38	130	internal	internal	PROPN
fbem-16427	38	131	control	control	PROPN
fbem-16427	38	132	index	index	NOUN
fbem-16427	38	133	7.07	7.07	NUM
fbem-16427	38	134	corporate	corporate	ADJ
fbem-16427	38	135	governance	governance	NOUN
fbem-16427	38	136	esg	esg	NOUN
fbem-16427	38	137	rating	rating	NOUN
fbem-16427	38	138	governance	governance	NOUN
fbem-16427	38	139	dimension	dimension	NOUN
fbem-16427	38	140	score	score	VERB
fbem-16427	38	141	13.60	13.60	NUM
fbem-16427	38	142	the	the	DET
fbem-16427	38	143	variable	variable	ADJ
fbem-16427	38	144	boundaries	boundary	NOUN
fbem-16427	38	145	,	,	PUNCT
fbem-16427	38	146	including	include	VERB
fbem-16427	38	147	explanatory	explanatory	ADJ
fbem-16427	38	148	and	and	CCONJ
fbem-16427	38	149	control	control	NOUN
fbem-16427	38	150	variables	variable	NOUN
fbem-16427	38	151	,	,	PUNCT
fbem-16427	38	152	are	be	AUX
fbem-16427	38	153	shown	show	VERB
fbem-16427	38	154	in	in	ADP
fbem-16427	38	155	table	table	NOUN
fbem-16427	38	156	2	2	NUM
fbem-16427	38	157	.	.	PUNCT
fbem-16427	38	158	table	table	NOUN
fbem-16427	38	159	2	2	NUM
fbem-16427	38	160	.	.	PUNCT
fbem-16427	38	161	variable	variable	ADJ
fbem-16427	38	162	definition	definition	NOUN
fbem-16427	38	163	variable	variable	ADJ
fbem-16427	38	164	type	type	NOUN
fbem-16427	38	165	variable	variable	ADJ
fbem-16427	38	166	name	name	NOUN
fbem-16427	38	167	variable	variable	ADJ
fbem-16427	38	168	symbols	symbol	NOUN
fbem-16427	38	169	variable	variable	ADJ
fbem-16427	38	170	definition	definition	NOUN
fbem-16427	38	171	dependent	dependent	ADJ
fbem-16427	38	172	variable	variable	ADJ
fbem-16427	38	173	high	high	ADJ
fbem-16427	38	174	quality	quality	NOUN
fbem-16427	38	175	development	development	NOUN
fbem-16427	38	176	hq	hq	PROPN
fbem-16427	38	177	comprehensive	comprehensive	ADJ
fbem-16427	38	178	calculation	calculation	NOUN
fbem-16427	38	179	of	of	ADP
fbem-16427	38	180	scores	score	NOUN
fbem-16427	38	181	for	for	ADP
fbem-16427	38	182	various	various	ADJ
fbem-16427	38	183	indicators	indicator	NOUN
fbem-16427	38	184	of	of	ADP
fbem-16427	38	185	high	high	ADJ
fbem-16427	38	186	-	-	PUNCT
fbem-16427	38	187	quality	quality	NOUN
fbem-16427	38	188	development	development	NOUN
fbem-16427	38	189	based	base	VERB
fbem-16427	38	190	on	on	ADP
fbem-16427	38	191	entropy	entropy	PROPN
fbem-16427	38	192	method	method	VERB
fbem-16427	38	193	explanatory	explanatory	ADJ
fbem-16427	38	194	variable	variable	ADJ
fbem-16427	38	195	digital	digital	ADJ
fbem-16427	38	196	transformation	transformation	NOUN
fbem-16427	38	197	dcg	dcg	PROPN
fbem-16427	38	198	based	base	VERB
fbem-16427	38	199	on	on	ADP
fbem-16427	38	200	the	the	DET
fbem-16427	38	201	approach	approach	NOUN
fbem-16427	38	202	of	of	ADP
fbem-16427	38	203	wu	wu	PROPN
fbem-16427	38	204	et	et	PROPN
fbem-16427	38	205	al	al	PROPN
fbem-16427	38	206	.	.	PROPN
fbem-16427	39	1	(	(	PUNCT
fbem-16427	39	2	2021	2021	NUM
fbem-16427	39	3	)	)	PUNCT
fbem-16427	39	4	,	,	PUNCT
fbem-16427	39	5	the	the	DET
fbem-16427	39	6	total	total	ADJ
fbem-16427	39	7	word	word	NOUN
fbem-16427	39	8	frequency	frequency	NOUN
fbem-16427	39	9	of	of	ADP
fbem-16427	39	10	digital	digital	ADJ
fbem-16427	39	11	transformation	transformation	NOUN
fbem-16427	39	12	is	be	AUX
fbem-16427	39	13	processed	process	VERB
fbem-16427	39	14	by	by	ADP
fbem-16427	39	15	adding	add	VERB
fbem-16427	39	16	1	1	NUM
fbem-16427	39	17	to	to	PART
fbem-16427	39	18	take	take	VERB
fbem-16427	39	19	the	the	DET
fbem-16427	39	20	logarithmic	logarithmic	ADJ
fbem-16427	39	21	value	value	NOUN
fbem-16427	39	22	mediating	mediate	VERB
fbem-16427	39	23	variable	variable	ADJ
fbem-16427	39	24	esg	esg	NOUN
fbem-16427	39	25	performance	performance	NOUN
fbem-16427	39	26	esg_score	esg_score	AUX
fbem-16427	39	27	assign	assign	VERB
fbem-16427	39	28	a	a	DET
fbem-16427	39	29	value	value	NOUN
fbem-16427	39	30	of	of	ADP
fbem-16427	39	31	1	1	NUM
fbem-16427	39	32	-	-	SYM
fbem-16427	39	33	9	9	NUM
fbem-16427	39	34	to	to	ADP
fbem-16427	39	35	the	the	DET
fbem-16427	39	36	esg	esg	NOUN
fbem-16427	39	37	rating	rating	NOUN
fbem-16427	39	38	of	of	ADP
fbem-16427	39	39	huazheng	huazheng	PROPN
fbem-16427	39	40	,	,	PUNCT
fbem-16427	39	41	taking	take	VERB
fbem-16427	39	42	the	the	DET
fbem-16427	39	43	average	average	NOUN
fbem-16427	39	44	of	of	ADP
fbem-16427	39	45	each	each	DET
fbem-16427	39	46	quarter	quarter	NOUN
fbem-16427	39	47	control	control	NOUN
fbem-16427	39	48	variable	variable	ADJ
fbem-16427	39	49	enterprise	enterprise	NOUN
fbem-16427	39	50	scale	scale	NOUN
fbem-16427	39	51	size	size	NOUN
fbem-16427	39	52	logarithmic	logarithmic	ADJ
fbem-16427	39	53	processing	processing	NOUN
fbem-16427	39	54	of	of	ADP
fbem-16427	39	55	year	year	NOUN
fbem-16427	39	56	-	-	PUNCT
fbem-16427	39	57	end	end	NOUN
fbem-16427	39	58	total	total	ADJ
fbem-16427	39	59	assets	asset	NOUN
fbem-16427	39	60	of	of	ADP
fbem-16427	39	61	enterprises	enterprise	NOUN
fbem-16427	39	62	listing	list	VERB
fbem-16427	39	63	period	period	NOUN
fbem-16427	39	64	lnage	lnage	NOUN
fbem-16427	39	65	add	add	VERB
fbem-16427	39	66	1	1	NUM
fbem-16427	39	67	to	to	ADP
fbem-16427	39	68	the	the	DET
fbem-16427	39	69	number	number	NOUN
fbem-16427	39	70	of	of	ADP
fbem-16427	39	71	years	year	NOUN
fbem-16427	39	72	the	the	DET
fbem-16427	39	73	company	company	NOUN
fbem-16427	39	74	has	have	AUX
fbem-16427	39	75	been	be	AUX
fbem-16427	39	76	8	8	NUM
fbem-16427	39	77	listed	list	VERB
fbem-16427	39	78	,	,	PUNCT
fbem-16427	39	79	and	and	CCONJ
fbem-16427	39	80	take	take	VERB
fbem-16427	39	81	the	the	DET
fbem-16427	39	82	logarithm	logarithm	NOUN
fbem-16427	39	83	for	for	ADP
fbem-16427	39	84	processing	process	VERB
fbem-16427	39	85	cash	cash	NOUN
fbem-16427	39	86	flow	flow	NOUN
fbem-16427	39	87	ratio	ratio	NOUN
fbem-16427	39	88	cflow	cflow	NOUN
fbem-16427	39	89	net	net	ADJ
fbem-16427	39	90	trap	trap	NOUN
fbem-16427	39	91	flow	flow	NOUN
fbem-16427	39	92	generated	generate	VERB
fbem-16427	39	93	from	from	ADP
fbem-16427	39	94	operating	operate	VERB
fbem-16427	39	95	activities	activity	NOUN
fbem-16427	39	96	divided	divide	VERB
fbem-16427	39	97	by	by	ADP
fbem-16427	39	98	total	total	ADJ
fbem-16427	39	99	assets	asset	NOUN
fbem-16427	39	100	capital	capital	NOUN
fbem-16427	39	101	density	density	PROPN
fbem-16427	39	102	cd	cd	PROPN
fbem-16427	39	103	the	the	DET
fbem-16427	39	104	ratio	ratio	NOUN
fbem-16427	39	105	of	of	ADP
fbem-16427	39	106	capital	capital	NOUN
fbem-16427	39	107	investment	investment	NOUN
fbem-16427	39	108	to	to	ADP
fbem-16427	39	109	labor	labor	NOUN
fbem-16427	39	110	investment	investment	NOUN
fbem-16427	39	111	equity	equity	NOUN
fbem-16427	39	112	balance	balance	NOUN
fbem-16427	39	113	top10	top10	PROPN
fbem-16427	39	114	the	the	DET
fbem-16427	39	115	shareholding	shareholding	NOUN
fbem-16427	39	116	ratio	ratio	NOUN
fbem-16427	39	117	of	of	ADP
fbem-16427	39	118	the	the	DET
fbem-16427	39	119	top	top	ADJ
fbem-16427	39	120	ten	ten	NUM
fbem-16427	39	121	shareholders	shareholder	NOUN
fbem-16427	39	122	institutional	institutional	ADJ
fbem-16427	39	123	investor	investor	NOUN
fbem-16427	39	124	shareholding	shareholding	NOUN
fbem-16427	39	125	ratio	ratio	NOUN
fbem-16427	39	126	inst	inst	PROPN
fbem-16427	39	127	institutional	institutional	ADJ
fbem-16427	39	128	investor	investor	NOUN
fbem-16427	39	129	shareholding	shareholding	NOUN
fbem-16427	39	130	ratio	ratio	NOUN
fbem-16427	39	131	board	board	PROPN
fbem-16427	39	132	size	size	NOUN
fbem-16427	39	133	boardscale	boardscale	VERB
fbem-16427	39	134	the	the	DET
fbem-16427	39	135	logarithm	logarithm	NOUN
fbem-16427	39	136	of	of	ADP
fbem-16427	39	137	the	the	DET
fbem-16427	39	138	number	number	NOUN
fbem-16427	39	139	of	of	ADP
fbem-16427	39	140	board	board	NOUN
fbem-16427	39	141	members	member	NOUN
fbem-16427	39	142	integration	integration	NOUN
fbem-16427	39	143	of	of	ADP
fbem-16427	39	144	two	two	NUM
fbem-16427	39	145	positions	position	NOUN
fbem-16427	39	146	dual	dual	ADJ
fbem-16427	39	147	if	if	SCONJ
fbem-16427	39	148	the	the	DET
fbem-16427	39	149	chairman	chairman	NOUN
fbem-16427	39	150	and	and	CCONJ
fbem-16427	39	151	general	general	ADJ
fbem-16427	39	152	manager	manager	NOUN
fbem-16427	39	153	are	be	AUX
fbem-16427	39	154	the	the	DET
fbem-16427	39	155	same	same	ADJ
fbem-16427	39	156	person	person	NOUN
fbem-16427	39	157	,	,	PUNCT
fbem-16427	39	158	take	take	VERB
fbem-16427	39	159	1	1	NUM
fbem-16427	39	160	;	;	PUNCT
fbem-16427	39	161	otherwise	otherwise	ADV
fbem-16427	39	162	,	,	PUNCT
fbem-16427	39	163	take	take	VERB
fbem-16427	39	164	0	0	NUM
fbem-16427	39	165	nature	nature	NOUN
fbem-16427	39	166	of	of	ADP
fbem-16427	39	167	property	property	NOUN
fbem-16427	39	168	rights	right	NOUN
fbem-16427	39	169	soe	soe	PROPN
fbem-16427	39	170	if	if	SCONJ
fbem-16427	39	171	the	the	DET
fbem-16427	39	172	enterprise	enterprise	NOUN
fbem-16427	39	173	is	be	AUX
fbem-16427	39	174	a	a	DET
fbem-16427	39	175	state	state	NOUN
fbem-16427	39	176	-	-	PUNCT
fbem-16427	39	177	owned	own	VERB
fbem-16427	39	178	enterprise	enterprise	NOUN
fbem-16427	39	179	or	or	CCONJ
fbem-16427	39	180	a	a	DET
fbem-16427	39	181	stateowned	stateowne	VERB
fbem-16427	39	182	holding	hold	VERB
fbem-16427	39	183	company	company	NOUN
fbem-16427	39	184	,	,	PUNCT
fbem-16427	39	185	take	take	VERB
fbem-16427	39	186	1	1	NUM
fbem-16427	39	187	;	;	PUNCT
fbem-16427	39	188	otherwise	otherwise	ADV
fbem-16427	39	189	,	,	PUNCT
fbem-16427	39	190	take	take	VERB
fbem-16427	39	191	0	0	NUM
fbem-16427	39	192	audit	audit	NOUN
fbem-16427	39	193	quality	quality	NOUN
fbem-16427	39	194	big4	big4	NOUN
fbem-16427	39	195	take	take	VERB
fbem-16427	39	196	1	1	NUM
fbem-16427	39	197	for	for	ADP
fbem-16427	39	198	the	the	DET
fbem-16427	39	199	audit	audit	NOUN
fbem-16427	39	200	of	of	ADP
fbem-16427	39	201	the	the	DET
fbem-16427	39	202	big	big	ADJ
fbem-16427	39	203	four	four	NUM
fbem-16427	39	204	,	,	PUNCT
fbem-16427	39	205	otherwise	otherwise	ADV
fbem-16427	39	206	take	take	VERB
fbem-16427	39	207	0	0	NUM
fbem-16427	39	208	3.3	3.3	NUM
fbem-16427	39	209	.	.	PUNCT
fbem-16427	40	1	variable	variable	ADJ
fbem-16427	40	2	definition	definition	NOUN
fbem-16427	40	3	using	use	VERB
fbem-16427	40	4	model	model	NOUN
fbem-16427	40	5	(	(	PUNCT
fbem-16427	40	6	1	1	NUM
fbem-16427	40	7	)	)	PUNCT
fbem-16427	40	8	to	to	PART
fbem-16427	40	9	test	test	VERB
fbem-16427	40	10	hypothesis	hypothesis	NOUN
fbem-16427	40	11	1	1	NUM
fbem-16427	40	12	,	,	PUNCT
fbem-16427	40	13	which	which	PRON
fbem-16427	40	14	examines	examine	VERB
fbem-16427	40	15	the	the	DET
fbem-16427	40	16	direct	direct	ADJ
fbem-16427	40	17	impact	impact	NOUN
fbem-16427	40	18	of	of	ADP
fbem-16427	40	19	digital	digital	ADJ
fbem-16427	40	20	transformation	transformation	NOUN
fbem-16427	40	21	on	on	ADP
fbem-16427	40	22	the	the	DET
fbem-16427	40	23	high	high	ADJ
fbem-16427	40	24	-	-	PUNCT
fbem-16427	40	25	quality	quality	NOUN
fbem-16427	40	26	development	development	NOUN
fbem-16427	40	27	of	of	ADP
fbem-16427	40	28	enterprises	enterprise	NOUN
fbem-16427	40	29	.	.	PUNCT
fbem-16427	41	1	𝐻𝑞	𝐻𝑞	PROPN
fbem-16427	41	2	𝛼	𝛼	VERB
fbem-16427	41	3	α	α	NOUN
fbem-16427	41	4	dcg	dcg	PROPN
fbem-16427	41	5	𝛼	𝛼	PROPN
fbem-16427	41	6	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑠	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑠	PROPN
fbem-16427	41	7	𝑌𝑒𝑎𝑟	𝑌𝑒𝑎𝑟	PROPN
fbem-16427	41	8	𝐼𝑛𝑑𝑢𝑠𝑡𝑟𝑦	𝐼𝑛𝑑𝑢𝑠𝑡𝑟𝑦	PROPN
fbem-16427	41	9	𝜀	𝜀	PROPN
fbem-16427	41	10	(	(	PUNCT
fbem-16427	41	11	1	1	NUM
fbem-16427	41	12	)	)	PUNCT
fbem-16427	41	13	among	among	ADP
fbem-16427	41	14	them	they	PRON
fbem-16427	41	15	,	,	PUNCT
fbem-16427	41	16	hq	hq	PROPN
fbem-16427	41	17	is	be	AUX
fbem-16427	41	18	the	the	DET
fbem-16427	41	19	dependent	dependent	ADJ
fbem-16427	41	20	variable	variable	NOUN
fbem-16427	41	21	on	on	ADP
fbem-16427	41	22	the	the	DET
fbem-16427	41	23	level	level	NOUN
fbem-16427	41	24	of	of	ADP
fbem-16427	41	25	high	high	ADJ
fbem-16427	41	26	-	-	PUNCT
fbem-16427	41	27	quality	quality	NOUN
fbem-16427	41	28	development	development	NOUN
fbem-16427	41	29	of	of	ADP
fbem-16427	41	30	the	the	DET
fbem-16427	41	31	enterprise	enterprise	NOUN
fbem-16427	41	32	,	,	PUNCT
fbem-16427	41	33	dcg	dcg	PROPN
fbem-16427	41	34	is	be	AUX
fbem-16427	41	35	the	the	DET
fbem-16427	41	36	core	core	ADJ
fbem-16427	41	37	explanatory	explanatory	ADJ
fbem-16427	41	38	variable	variable	NOUN
fbem-16427	41	39	on	on	ADP
fbem-16427	41	40	the	the	DET
fbem-16427	41	41	degree	degree	NOUN
fbem-16427	41	42	of	of	ADP
fbem-16427	41	43	digital	digital	ADJ
fbem-16427	41	44	transformation	transformation	NOUN
fbem-16427	41	45	of	of	ADP
fbem-16427	41	46	the	the	DET
fbem-16427	41	47	enterprise	enterprise	NOUN
fbem-16427	41	48	,	,	PUNCT
fbem-16427	41	49	controls	control	NOUN
fbem-16427	41	50	represents	represent	VERB
fbem-16427	41	51	a	a	DET
fbem-16427	41	52	series	series	NOUN
fbem-16427	41	53	of	of	ADP
fbem-16427	41	54	control	control	NOUN
fbem-16427	41	55	variables	variable	NOUN
fbem-16427	41	56	,	,	PUNCT
fbem-16427	41	57	year	year	NOUN
fbem-16427	41	58	represents	represent	VERB
fbem-16427	41	59	time	time	NOUN
fbem-16427	41	60	fixed	fix	VERB
fbem-16427	41	61	effects	effect	NOUN
fbem-16427	41	62	,	,	PUNCT
fbem-16427	41	63	industry	industry	NOUN
fbem-16427	41	64	represents	represent	VERB
fbem-16427	41	65	industry	industry	NOUN
fbem-16427	41	66	fixed	fix	VERB
fbem-16427	41	67	effects	effect	NOUN
fbem-16427	41	68	,	,	PUNCT
fbem-16427	41	69	represents	represent	VERB
fbem-16427	41	70	model	model	NOUN
fbem-16427	41	71	random	random	ADJ
fbem-16427	41	72	disturbance	disturbance	NOUN
fbem-16427	41	73	term	term	NOUN
fbem-16427	41	74	,	,	PUNCT
fbem-16427	41	75	i	i	PRON
fbem-16427	41	76	represents	represent	VERB
fbem-16427	41	77	enterprise	enterprise	NOUN
fbem-16427	41	78	,	,	PUNCT
fbem-16427	41	79	and	and	CCONJ
fbem-16427	41	80	t	t	PROPN
fbem-16427	41	81	represents	represent	VERB
fbem-16427	41	82	year	year	NOUN
fbem-16427	41	83	.	.	PUNCT
fbem-16427	42	1	setting	set	VERB
fbem-16427	42	2	models	model	NOUN
fbem-16427	42	3	(	(	PUNCT
fbem-16427	42	4	2	2	NUM
fbem-16427	42	5	)	)	PUNCT
fbem-16427	42	6	and	and	CCONJ
fbem-16427	42	7	(	(	PUNCT
fbem-16427	42	8	3	3	X
fbem-16427	42	9	)	)	PUNCT
fbem-16427	42	10	to	to	PART
fbem-16427	42	11	explore	explore	VERB
fbem-16427	42	12	the	the	DET
fbem-16427	42	13	mediating	mediate	VERB
fbem-16427	42	14	effect	effect	NOUN
fbem-16427	42	15	of	of	ADP
fbem-16427	42	16	esg	esg	PROPN
fbem-16427	42	17	performance	performance	NOUN
fbem-16427	42	18	on	on	ADP
fbem-16427	42	19	digital	digital	ADJ
fbem-16427	42	20	transformation	transformation	NOUN
fbem-16427	42	21	and	and	CCONJ
fbem-16427	42	22	highquality	highquality	NOUN
fbem-16427	42	23	development	development	NOUN
fbem-16427	42	24	of	of	ADP
fbem-16427	42	25	enterprises	enterprise	NOUN
fbem-16427	42	26	.	.	PUNCT
fbem-16427	43	1	𝐸𝑆𝐺	𝐸𝑆𝐺	X
fbem-16427	43	2	𝛽	𝛽	PROPN
fbem-16427	43	3	β	β	X
fbem-16427	43	4	dcg	dcg	X
fbem-16427	43	5	𝛽	𝛽	PROPN
fbem-16427	43	6	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑠	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑠	PROPN
fbem-16427	43	7	𝑌𝑒𝑎𝑟	𝑌𝑒𝑎𝑟	PROPN
fbem-16427	43	8	𝐼𝑛𝑑𝑢𝑠𝑡𝑟𝑦	𝐼𝑛𝑑𝑢𝑠𝑡𝑟𝑦	PROPN
fbem-16427	43	9	𝜀	𝜀	PROPN
fbem-16427	43	10	(	(	PUNCT
fbem-16427	43	11	2	2	NUM
fbem-16427	43	12	)	)	PUNCT
fbem-16427	44	1	𝐻𝑞	𝐻𝑞	PROPN
fbem-16427	44	2	𝛾	𝛾	PROPN
fbem-16427	44	3	γ	γ	X
fbem-16427	44	4	dcg	dcg	PROPN
fbem-16427	44	5	𝛾	𝛾	PROPN
fbem-16427	44	6	𝐸𝑆𝐺	𝐸𝑆𝐺	NOUN
fbem-16427	44	7	𝛾	𝛾	ADP
fbem-16427	44	8	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑠	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑠	PROPN
fbem-16427	44	9	𝑌𝑒𝑎𝑟	𝑌𝑒𝑎𝑟	PROPN
fbem-16427	44	10	𝐼𝑛𝑑𝑢𝑠𝑡𝑟𝑦	𝐼𝑛𝑑𝑢𝑠𝑡𝑟𝑦	PROPN
fbem-16427	44	11	𝜀	𝜀	PROPN
fbem-16427	44	12	(	(	PUNCT
fbem-16427	44	13	3	3	NUM
fbem-16427	44	14	)	)	PUNCT
fbem-16427	44	15	indicates	indicate	VERB
fbem-16427	44	16	the	the	DET
fbem-16427	44	17	annual	annual	ADJ
fbem-16427	44	18	average	average	ADJ
fbem-16427	44	19	esg	esg	PROPN
fbem-16427	44	20	performance	performance	NOUN
fbem-16427	44	21	score	score	NOUN
fbem-16427	44	22	of	of	ADP
fbem-16427	44	23	company	company	NOUN
fbem-16427	44	24	i	i	PRON
fbem-16427	44	25	in	in	ADP
fbem-16427	44	26	year	year	NOUN
fbem-16427	44	27	t.	t.	PROPN
fbem-16427	44	28	4	4	NUM
fbem-16427	44	29	.	.	PUNCT
fbem-16427	44	30	empirical	empirical	ADJ
fbem-16427	44	31	analysis	analysis	NOUN
fbem-16427	44	32	4.1	4.1	NUM
fbem-16427	44	33	.	.	PUNCT
fbem-16427	45	1	descriptive	descriptive	ADJ
fbem-16427	45	2	statistics	statistic	NOUN
fbem-16427	45	3	the	the	DET
fbem-16427	45	4	results	result	NOUN
fbem-16427	45	5	of	of	ADP
fbem-16427	45	6	descriptive	descriptive	ADJ
fbem-16427	45	7	statistical	statistical	ADJ
fbem-16427	45	8	analysis	analysis	NOUN
fbem-16427	45	9	are	be	AUX
fbem-16427	45	10	shown	show	VERB
fbem-16427	45	11	in	in	ADP
fbem-16427	45	12	table	table	NOUN
fbem-16427	45	13	3	3	NUM
fbem-16427	45	14	.	.	PUNCT
fbem-16427	46	1	these	these	DET
fbem-16427	46	2	variable	variable	ADJ
fbem-16427	46	3	statistics	statistic	NOUN
fbem-16427	46	4	are	be	AUX
fbem-16427	46	5	basically	basically	ADV
fbem-16427	46	6	in	in	ADP
fbem-16427	46	7	line	line	NOUN
fbem-16427	46	8	with	with	ADP
fbem-16427	46	9	the	the	DET
fbem-16427	46	10	relevant	relevant	ADJ
fbem-16427	46	11	reality	reality	NOUN
fbem-16427	46	12	of	of	ADP
fbem-16427	46	13	chinese	chinese	ADJ
fbem-16427	46	14	listed	list	VERB
fbem-16427	46	15	companies	company	NOUN
fbem-16427	46	16	.	.	PUNCT
fbem-16427	47	1	table	table	NOUN
fbem-16427	47	2	3	3	NUM
fbem-16427	47	3	.	.	PUNCT
fbem-16427	47	4	descriptive	descriptive	ADJ
fbem-16427	47	5	statistics	statistic	NOUN
fbem-16427	47	6	variable	variable	ADJ
fbem-16427	47	7	mean	mean	VERB
fbem-16427	47	8	standard	standard	ADJ
fbem-16427	47	9	deviation	deviation	NOUN
fbem-16427	47	10	minimum	minimum	NOUN
fbem-16427	47	11	value	value	NOUN
fbem-16427	47	12	maximum	maximum	ADJ
fbem-16427	47	13	value	value	NOUN
fbem-16427	47	14	hq	hq	NOUN
fbem-16427	47	15	23.700	23.700	NUM
fbem-16427	47	16	2.472	2.472	NUM
fbem-16427	47	17	12.370	12.370	NUM
fbem-16427	47	18	38.280	38.280	NUM
fbem-16427	47	19	dcg	dcg	PROPN
fbem-16427	47	20	1.703	1.703	NUM
fbem-16427	47	21	1.424	1.424	NUM
fbem-16427	47	22	0.000	0.000	NUM
fbem-16427	47	23	6.301	6.301	NUM
fbem-16427	47	24	esg	esg	NOUN
fbem-16427	47	25	score	score	NOUN
fbem-16427	47	26	4.239	4.239	NUM
fbem-16427	47	27	1.052	1.052	NUM
fbem-16427	47	28	1.000	1.000	NUM
fbem-16427	47	29	8.000	8.000	NUM
fbem-16427	47	30	size	size	NOUN
fbem-16427	47	31	22.340	22.340	NUM
fbem-16427	47	32	1.284	1.284	NUM
fbem-16427	47	33	17.810	17.810	NUM
fbem-16427	47	34	28.640	28.640	NUM
fbem-16427	47	35	lnage	lnage	VERB
fbem-16427	47	36	2.112	2.112	NUM
fbem-16427	47	37	0.793	0.793	NUM
fbem-16427	47	38	0.000	0.000	NUM
fbem-16427	47	39	3.497	3.497	NUM
fbem-16427	47	40	cflow	cflow	NOUN
fbem-16427	47	41	0.057	0.057	NUM
fbem-16427	47	42	0.069	0.069	NUM
fbem-16427	47	43	-0.528	-0.528	X
fbem-16427	47	44	0.839	0.839	NUM
fbem-16427	47	45	cd	cd	PROPN
fbem-16427	47	46	2.283	2.283	NUM
fbem-16427	47	47	2.815	2.815	NUM
fbem-16427	47	48	0.088	0.088	NUM
fbem-16427	47	49	289.900	289.900	NUM
fbem-16427	47	50	top10	top10	NOUN
fbem-16427	47	51	0.410	0.410	NUM
fbem-16427	47	52	0.185	0.185	NUM
fbem-16427	47	53	0.104	0.104	NUM
fbem-16427	47	54	0.979	0.979	NUM
fbem-16427	47	55	inst	inst	NOUN
fbem-16427	47	56	42.670	42.670	NUM
fbem-16427	47	57	25.330	25.330	NUM
fbem-16427	47	58	0.000	0.000	NUM
fbem-16427	47	59	231.800	231.800	NUM
fbem-16427	47	60	boardscale	boardscale	NOUN
fbem-16427	47	61	2.076	2.076	NUM
fbem-16427	47	62	0.188	0.188	NUM
fbem-16427	47	63	1.386	1.386	NUM
fbem-16427	47	64	2.833	2.833	NUM
fbem-16427	47	65	dual	dual	ADJ
fbem-16427	47	66	0.320	0.320	NUM
fbem-16427	47	67	0.467	0.467	NUM
fbem-16427	47	68	0.000	0.000	NUM
fbem-16427	47	69	1.000	1.000	NUM
fbem-16427	47	70	soe	soe	PROPN
fbem-16427	47	71	0.293	0.293	NUM
fbem-16427	47	72	0.455	0.455	NUM
fbem-16427	47	73	0.000	0.000	NUM
fbem-16427	47	74	1.000	1.000	NUM
fbem-16427	47	75	big4	big4	NOUN
fbem-16427	47	76	0.059	0.059	NUM
fbem-16427	47	77	0.235	0.235	NUM
fbem-16427	47	78	0.000	0.000	NUM
fbem-16427	47	79	1.000	1.000	NUM
fbem-16427	47	80	note	note	NOUN
fbem-16427	47	81	:	:	PUNCT
fbem-16427	47	82	the	the	DET
fbem-16427	47	83	parentheses	parenthesis	NOUN
fbem-16427	47	84	are	be	AUX
fbem-16427	47	85	for	for	ADP
fbem-16427	47	86	correcting	correct	VERB
fbem-16427	47	87	standard	standard	ADJ
fbem-16427	47	88	errors	error	NOUN
fbem-16427	47	89	,	,	PUNCT
fbem-16427	47	90	and	and	CCONJ
fbem-16427	47	91	the	the	DET
fbem-16427	47	92	following	follow	VERB
fbem-16427	47	93	text	text	NOUN
fbem-16427	47	94	is	be	AUX
fbem-16427	47	95	the	the	DET
fbem-16427	47	96	same	same	ADJ
fbem-16427	47	97	.	.	PUNCT
fbem-16427	48	1	4.2	4.2	NUM
fbem-16427	48	2	.	.	PUNCT
fbem-16427	48	3	benchmark	benchmark	NOUN
fbem-16427	48	4	regression	regression	NOUN
fbem-16427	48	5	analysis	analysis	NOUN
fbem-16427	48	6	table	table	NOUN
fbem-16427	48	7	4	4	NUM
fbem-16427	48	8	reports	report	VERB
fbem-16427	48	9	the	the	DET
fbem-16427	48	10	benchmark	benchmark	NOUN
fbem-16427	48	11	regression	regression	NOUN
fbem-16427	48	12	results	result	NOUN
fbem-16427	48	13	.	.	PUNCT
fbem-16427	49	1	column	column	NOUN
fbem-16427	49	2	(	(	PUNCT
fbem-16427	49	3	1	1	X
fbem-16427	49	4	)	)	PUNCT
fbem-16427	49	5	in	in	ADP
fbem-16427	49	6	table	table	NOUN
fbem-16427	49	7	4	4	NUM
fbem-16427	49	8	shows	show	VERB
fbem-16427	49	9	a	a	DET
fbem-16427	49	10	significant	significant	ADJ
fbem-16427	49	11	positive	positive	ADJ
fbem-16427	49	12	correlation	correlation	NOUN
fbem-16427	49	13	between	between	ADP
fbem-16427	49	14	the	the	DET
fbem-16427	49	15	level	level	NOUN
fbem-16427	49	16	of	of	ADP
fbem-16427	49	17	high	high	ADJ
fbem-16427	49	18	-	-	PUNCT
fbem-16427	49	19	quality	quality	NOUN
fbem-16427	49	20	development	development	NOUN
fbem-16427	49	21	of	of	ADP
fbem-16427	49	22	enterprises	enterprise	NOUN
fbem-16427	49	23	and	and	CCONJ
fbem-16427	49	24	the	the	DET
fbem-16427	49	25	degree	degree	NOUN
fbem-16427	49	26	of	of	ADP
fbem-16427	49	27	digital	digital	ADJ
fbem-16427	49	28	transformation	transformation	NOUN
fbem-16427	49	29	at	at	ADP
fbem-16427	49	30	the	the	DET
fbem-16427	49	31	1	1	NUM
fbem-16427	49	32	%	%	NOUN
fbem-16427	49	33	level	level	NOUN
fbem-16427	49	34	,	,	PUNCT
fbem-16427	49	35	with	with	ADP
fbem-16427	49	36	a	a	DET
fbem-16427	49	37	regression	regression	NOUN
fbem-16427	49	38	coefficient	coefficient	NOUN
fbem-16427	49	39	of	of	ADP
fbem-16427	49	40	0.129	0.129	NUM
fbem-16427	49	41	.	.	PUNCT
fbem-16427	50	1	furthermore	furthermore	ADV
fbem-16427	50	2	,	,	PUNCT
fbem-16427	50	3	considering	consider	VERB
fbem-16427	50	4	the	the	DET
fbem-16427	50	5	impact	impact	NOUN
fbem-16427	50	6	of	of	ADP
fbem-16427	50	7	other	other	ADJ
fbem-16427	50	8	factors	factor	NOUN
fbem-16427	50	9	on	on	ADP
fbem-16427	50	10	the	the	DET
fbem-16427	50	11	high	high	ADJ
fbem-16427	50	12	-	-	PUNCT
fbem-16427	50	13	quality	quality	NOUN
fbem-16427	50	14	development	development	NOUN
fbem-16427	50	15	of	of	ADP
fbem-16427	50	16	enterprises	enterprise	NOUN
fbem-16427	50	17	,	,	PUNCT
fbem-16427	50	18	the	the	DET
fbem-16427	50	19	results	result	NOUN
fbem-16427	50	20	after	after	ADP
fbem-16427	50	21	adding	add	VERB
fbem-16427	50	22	control	control	NOUN
fbem-16427	50	23	variables	variable	NOUN
fbem-16427	50	24	are	be	AUX
fbem-16427	50	25	shown	show	VERB
fbem-16427	50	26	in	in	ADP
fbem-16427	50	27	column	column	NOUN
fbem-16427	50	28	(	(	PUNCT
fbem-16427	50	29	2	2	NUM
fbem-16427	50	30	)	)	PUNCT
fbem-16427	50	31	.	.	PUNCT
fbem-16427	51	1	the	the	DET
fbem-16427	51	2	level	level	NOUN
fbem-16427	51	3	of	of	ADP
fbem-16427	51	4	high	high	ADJ
fbem-16427	51	5	-	-	PUNCT
fbem-16427	51	6	quality	quality	NOUN
fbem-16427	51	7	development	development	NOUN
fbem-16427	51	8	of	of	ADP
fbem-16427	51	9	enterprises	enterprise	NOUN
fbem-16427	51	10	is	be	AUX
fbem-16427	51	11	also	also	ADV
fbem-16427	51	12	significantly	significantly	ADV
fbem-16427	51	13	correlated	correlate	VERB
fbem-16427	51	14	with	with	ADP
fbem-16427	51	15	the	the	DET
fbem-16427	51	16	degree	degree	NOUN
fbem-16427	51	17	of	of	ADP
fbem-16427	51	18	digital	digital	ADJ
fbem-16427	51	19	transformation	transformation	NOUN
fbem-16427	51	20	at	at	ADP
fbem-16427	51	21	the	the	DET
fbem-16427	51	22	1	1	NUM
fbem-16427	51	23	%	%	NOUN
fbem-16427	51	24	level	level	NOUN
fbem-16427	51	25	,	,	PUNCT
fbem-16427	51	26	and	and	CCONJ
fbem-16427	51	27	the	the	DET
fbem-16427	51	28	regression	regression	NOUN
fbem-16427	51	29	coefficient	coefficient	NOUN
fbem-16427	51	30	increases	increase	VERB
fbem-16427	51	31	to	to	ADP
fbem-16427	51	32	0.154	0.154	NUM
fbem-16427	51	33	.	.	PUNCT
fbem-16427	52	1	in	in	ADP
fbem-16427	52	2	addition	addition	NOUN
fbem-16427	52	3	,	,	PUNCT
fbem-16427	52	4	in	in	ADP
fbem-16427	52	5	order	order	NOUN
fbem-16427	52	6	to	to	PART
fbem-16427	52	7	further	far	ADV
fbem-16427	52	8	improve	improve	VERB
fbem-16427	52	9	the	the	DET
fbem-16427	52	10	accuracy	accuracy	NOUN
fbem-16427	52	11	and	and	CCONJ
fbem-16427	52	12	precision	precision	NOUN
fbem-16427	52	13	of	of	ADP
fbem-16427	52	14	the	the	DET
fbem-16427	52	15	model	model	NOUN
fbem-16427	52	16	,	,	PUNCT
fbem-16427	52	17	industry	industry	NOUN
fbem-16427	52	18	fixed	fix	VERB
fbem-16427	52	19	effects	effect	NOUN
fbem-16427	52	20	and	and	CCONJ
fbem-16427	52	21	time	time	NOUN
fbem-16427	52	22	fixed	fix	VERB
fbem-16427	52	23	effects	effect	NOUN
fbem-16427	52	24	were	be	AUX
fbem-16427	52	25	controlled	control	VERB
fbem-16427	52	26	by	by	ADP
fbem-16427	52	27	adding	add	VERB
fbem-16427	52	28	control	control	NOUN
fbem-16427	52	29	variables	variable	NOUN
fbem-16427	52	30	.	.	PUNCT
fbem-16427	53	1	the	the	DET
fbem-16427	53	2	results	result	NOUN
fbem-16427	53	3	are	be	AUX
fbem-16427	53	4	shown	show	VERB
fbem-16427	53	5	in	in	ADP
fbem-16427	53	6	column	column	NOUN
fbem-16427	53	7	(	(	PUNCT
fbem-16427	53	8	3	3	NUM
fbem-16427	53	9	)	)	PUNCT
fbem-16427	53	10	,	,	PUNCT
fbem-16427	53	11	and	and	CCONJ
fbem-16427	53	12	digital	digital	ADJ
fbem-16427	53	13	transformation	transformation	NOUN
fbem-16427	53	14	still	still	ADV
fbem-16427	53	15	has	have	VERB
fbem-16427	53	16	a	a	DET
fbem-16427	53	17	significant	significant	ADJ
fbem-16427	53	18	positive	positive	ADJ
fbem-16427	53	19	impact	impact	NOUN
fbem-16427	53	20	on	on	ADP
fbem-16427	53	21	the	the	DET
fbem-16427	53	22	high	high	ADJ
fbem-16427	53	23	-	-	PUNCT
fbem-16427	53	24	quality	quality	NOUN
fbem-16427	53	25	development	development	NOUN
fbem-16427	53	26	level	level	NOUN
fbem-16427	53	27	of	of	ADP
fbem-16427	53	28	enterprises	enterprise	NOUN
fbem-16427	53	29	,	,	PUNCT
fbem-16427	53	30	with	with	ADP
fbem-16427	53	31	a	a	DET
fbem-16427	53	32	regression	regression	NOUN
fbem-16427	53	33	coefficient	coefficient	NOUN
fbem-16427	53	34	of	of	ADP
fbem-16427	53	35	0.164	0.164	NUM
fbem-16427	53	36	.	.	PUNCT
fbem-16427	54	1	when	when	SCONJ
fbem-16427	54	2	other	other	ADJ
fbem-16427	54	3	influencing	influence	VERB
fbem-16427	54	4	factors	factor	NOUN
fbem-16427	54	5	are	be	AUX
fbem-16427	54	6	constant	constant	ADJ
fbem-16427	54	7	,	,	PUNCT
fbem-16427	54	8	the	the	PRON
fbem-16427	54	9	higher	high	ADJ
fbem-16427	54	10	the	the	DET
fbem-16427	54	11	degree	degree	NOUN
fbem-16427	54	12	of	of	ADP
fbem-16427	54	13	digital	digital	ADJ
fbem-16427	54	14	transformation	transformation	NOUN
fbem-16427	54	15	of	of	ADP
fbem-16427	54	16	an	an	DET
fbem-16427	54	17	enterprise	enterprise	NOUN
fbem-16427	54	18	,	,	PUNCT
fbem-16427	54	19	the	the	PRON
fbem-16427	54	20	higher	high	ADJ
fbem-16427	54	21	its	its	PRON
fbem-16427	54	22	level	level	NOUN
fbem-16427	54	23	of	of	ADP
fbem-16427	54	24	highquality	highquality	NOUN
fbem-16427	54	25	development	development	NOUN
fbem-16427	54	26	,	,	PUNCT
fbem-16427	54	27	which	which	PRON
fbem-16427	54	28	verifies	verifie	NOUN
fbem-16427	54	29	hypothesis	hypothesis	VERB
fbem-16427	54	30	1	1	NUM
fbem-16427	54	31	in	in	ADP
fbem-16427	54	32	this	this	DET
fbem-16427	54	33	article	article	NOUN
fbem-16427	54	34	.	.	PUNCT
fbem-16427	55	1	9	9	NUM
fbem-16427	55	2	table	table	NOUN
fbem-16427	55	3	4	4	NUM
fbem-16427	55	4	.	.	PUNCT
fbem-16427	55	5	direct	direct	ADJ
fbem-16427	55	6	effect	effect	NOUN
fbem-16427	55	7	benchmark	benchmark	NOUN
fbem-16427	55	8	regression	regression	NOUN
fbem-16427	55	9	results	result	VERB
fbem-16427	55	10	variable	variable	ADJ
fbem-16427	55	11	(	(	PUNCT
fbem-16427	55	12	1	1	NUM
fbem-16427	55	13	)	)	PUNCT
fbem-16427	55	14	(	(	PUNCT
fbem-16427	55	15	2	2	NUM
fbem-16427	55	16	)	)	PUNCT
fbem-16427	55	17	(	(	PUNCT
fbem-16427	56	1	3	3	X
fbem-16427	56	2	)	)	PUNCT
fbem-16427	56	3	hq	hq	NOUN
fbem-16427	56	4	hq	hq	PROPN
fbem-16427	57	1	hq	hq	PROPN
fbem-16427	57	2	dcg	dcg	PROPN
fbem-16427	57	3	0.129	0.129	NUM
fbem-16427	57	4	*	*	PUNCT
fbem-16427	58	1	*	*	PUNCT
fbem-16427	58	2	*	*	PUNCT
fbem-16427	58	3	0.154	0.154	NUM
fbem-16427	58	4	*	*	PUNCT
fbem-16427	58	5	*	*	PUNCT
fbem-16427	58	6	*	*	PUNCT
fbem-16427	58	7	0.164	0.164	NUM
fbem-16427	58	8	*	*	PUNCT
fbem-16427	58	9	*	*	PUNCT
fbem-16427	58	10	*	*	PUNCT
fbem-16427	58	11	(	(	PUNCT
fbem-16427	58	12	0.026	0.026	NUM
fbem-16427	58	13	)	)	PUNCT
fbem-16427	58	14	(	(	PUNCT
fbem-16427	58	15	0.036	0.036	NUM
fbem-16427	58	16	)	)	PUNCT
fbem-16427	58	17	(	(	PUNCT
fbem-16427	58	18	0.035	0.035	NUM
fbem-16427	58	19	)	)	PUNCT
fbem-16427	58	20	control	control	NOUN
fbem-16427	58	21	variable	variable	NOUN
fbem-16427	59	1	no	no	INTJ
fbem-16427	59	2	yes	yes	INTJ
fbem-16427	59	3	yes	yes	INTJ
fbem-16427	59	4	time	time	NOUN
fbem-16427	59	5	fixed	fix	VERB
fbem-16427	59	6	effect	effect	NOUN
fbem-16427	59	7	no	no	INTJ
fbem-16427	59	8	no	no	INTJ
fbem-16427	59	9	yes	yes	INTJ
fbem-16427	59	10	industry	industry	NOUN
fbem-16427	59	11	fixed	fix	VERB
fbem-16427	59	12	effect	effect	NOUN
fbem-16427	59	13	no	no	INTJ
fbem-16427	60	1	no	no	INTJ
fbem-16427	60	2	yes	yes	INTJ
fbem-16427	60	3	cons	con	NOUN
fbem-16427	60	4	23.481	23.481	NUM
fbem-16427	60	5	*	*	PUNCT
fbem-16427	60	6	*	*	PUNCT
fbem-16427	60	7	*	*	PUNCT
fbem-16427	60	8	23.165	23.165	NUM
fbem-16427	60	9	*	*	PUNCT
fbem-16427	60	10	*	*	PUNCT
fbem-16427	60	11	*	*	PUNCT
fbem-16427	60	12	22.928	22.928	NUM
fbem-16427	60	13	*	*	PUNCT
fbem-16427	60	14	*	*	PUNCT
fbem-16427	60	15	*	*	PUNCT
fbem-16427	60	16	(	(	PUNCT
fbem-16427	60	17	0.045	0.045	NUM
fbem-16427	60	18	)	)	PUNCT
fbem-16427	60	19	(	(	PUNCT
fbem-16427	60	20	0.620	0.620	NUM
fbem-16427	60	21	)	)	PUNCT
fbem-16427	60	22	(	(	PUNCT
fbem-16427	60	23	1.176	1.176	NUM
fbem-16427	60	24	)	)	PUNCT
fbem-16427	60	25	n	n	CCONJ
fbem-16427	60	26	19,061	19,061	NUM
fbem-16427	60	27	11,439	11,439	NUM
fbem-16427	60	28	11,439	11,439	NUM
fbem-16427	60	29	r2	r2	NOUN
fbem-16427	60	30	0.002	0.002	NUM
fbem-16427	60	31	0.007	0.007	NUM
fbem-16427	60	32	0.055	0.055	NUM
fbem-16427	60	33	4.3	4.3	NUM
fbem-16427	60	34	.	.	PUNCT
fbem-16427	61	1	mediation	mediation	NOUN
fbem-16427	61	2	effect	effect	NOUN
fbem-16427	61	3	test	test	NOUN
fbem-16427	61	4	table	table	NOUN
fbem-16427	61	5	5	5	NUM
fbem-16427	61	6	reports	report	VERB
fbem-16427	61	7	the	the	DET
fbem-16427	61	8	results	result	NOUN
fbem-16427	61	9	of	of	ADP
fbem-16427	61	10	the	the	DET
fbem-16427	61	11	mediation	mediation	NOUN
fbem-16427	61	12	effect	effect	NOUN
fbem-16427	61	13	regression	regression	NOUN
fbem-16427	61	14	.	.	PUNCT
fbem-16427	62	1	from	from	ADP
fbem-16427	62	2	column	column	NOUN
fbem-16427	62	3	(	(	PUNCT
fbem-16427	62	4	2	2	NUM
fbem-16427	62	5	)	)	PUNCT
fbem-16427	62	6	of	of	ADP
fbem-16427	62	7	table	table	NOUN
fbem-16427	62	8	5	5	NUM
fbem-16427	62	9	,	,	PUNCT
fbem-16427	62	10	it	it	PRON
fbem-16427	62	11	can	can	AUX
fbem-16427	62	12	be	be	AUX
fbem-16427	62	13	seen	see	VERB
fbem-16427	62	14	that	that	SCONJ
fbem-16427	62	15	the	the	DET
fbem-16427	62	16	degree	degree	NOUN
fbem-16427	62	17	of	of	ADP
fbem-16427	62	18	digital	digital	ADJ
fbem-16427	62	19	transformation	transformation	NOUN
fbem-16427	62	20	has	have	VERB
fbem-16427	62	21	a	a	DET
fbem-16427	62	22	significant	significant	ADJ
fbem-16427	62	23	positive	positive	ADJ
fbem-16427	62	24	impact	impact	NOUN
fbem-16427	62	25	on	on	ADP
fbem-16427	62	26	enterprise	enterprise	NOUN
fbem-16427	62	27	esg	esg	NOUN
fbem-16427	62	28	performance	performance	NOUN
fbem-16427	62	29	,	,	PUNCT
fbem-16427	62	30	with	with	ADP
fbem-16427	62	31	a	a	DET
fbem-16427	62	32	regression	regression	NOUN
fbem-16427	62	33	coefficient	coefficient	NOUN
fbem-16427	62	34	of	of	ADP
fbem-16427	62	35	0.062	0.062	NUM
fbem-16427	62	36	,	,	PUNCT
fbem-16427	62	37	indicating	indicate	VERB
fbem-16427	62	38	that	that	SCONJ
fbem-16427	62	39	high	high	ADJ
fbem-16427	62	40	-	-	PUNCT
fbem-16427	62	41	level	level	NOUN
fbem-16427	62	42	digital	digital	ADJ
fbem-16427	62	43	transformation	transformation	NOUN
fbem-16427	62	44	can	can	AUX
fbem-16427	62	45	promote	promote	VERB
fbem-16427	62	46	the	the	DET
fbem-16427	62	47	improvement	improvement	NOUN
fbem-16427	62	48	of	of	ADP
fbem-16427	62	49	enterprise	enterprise	NOUN
fbem-16427	62	50	esg	esg	NOUN
fbem-16427	62	51	performance	performance	NOUN
fbem-16427	62	52	.	.	PUNCT
fbem-16427	63	1	furthermore	furthermore	ADV
fbem-16427	63	2	,	,	PUNCT
fbem-16427	63	3	esg	esg	NOUN
fbem-16427	63	4	performance	performance	NOUN
fbem-16427	63	5	(	(	PUNCT
fbem-16427	63	6	esg_score	esg_score	NOUN
fbem-16427	63	7	)	)	PUNCT
fbem-16427	63	8	was	be	AUX
fbem-16427	63	9	introduced	introduce	VERB
fbem-16427	63	10	as	as	ADP
fbem-16427	63	11	a	a	DET
fbem-16427	63	12	mediator	mediator	NOUN
fbem-16427	63	13	variable	variable	NOUN
fbem-16427	63	14	on	on	ADP
fbem-16427	63	15	the	the	DET
fbem-16427	63	16	basis	basis	NOUN
fbem-16427	63	17	of	of	ADP
fbem-16427	63	18	the	the	DET
fbem-16427	63	19	original	original	ADJ
fbem-16427	63	20	main	main	ADJ
fbem-16427	63	21	regression	regression	NOUN
fbem-16427	63	22	model	model	NOUN
fbem-16427	63	23	.	.	PUNCT
fbem-16427	64	1	the	the	DET
fbem-16427	64	2	results	result	NOUN
fbem-16427	64	3	are	be	AUX
fbem-16427	64	4	shown	show	VERB
fbem-16427	64	5	in	in	ADP
fbem-16427	64	6	column	column	NOUN
fbem-16427	64	7	(	(	PUNCT
fbem-16427	64	8	3	3	NUM
fbem-16427	64	9	)	)	PUNCT
fbem-16427	64	10	.	.	PUNCT
fbem-16427	65	1	after	after	ADP
fbem-16427	65	2	adding	add	VERB
fbem-16427	65	3	esg	esg	PROPN
fbem-16427	65	4	performance	performance	NOUN
fbem-16427	65	5	as	as	ADP
fbem-16427	65	6	a	a	DET
fbem-16427	65	7	mediator	mediator	NOUN
fbem-16427	65	8	variable	variable	NOUN
fbem-16427	65	9	,	,	PUNCT
fbem-16427	65	10	the	the	DET
fbem-16427	65	11	regression	regression	NOUN
fbem-16427	65	12	coefficient	coefficient	NOUN
fbem-16427	65	13	between	between	ADP
fbem-16427	65	14	esg	esg	PROPN
fbem-16427	65	15	performance	performance	NOUN
fbem-16427	65	16	and	and	CCONJ
fbem-16427	65	17	the	the	DET
fbem-16427	65	18	level	level	NOUN
fbem-16427	65	19	of	of	ADP
fbem-16427	65	20	high	high	ADJ
fbem-16427	65	21	-	-	PUNCT
fbem-16427	65	22	quality	quality	NOUN
fbem-16427	65	23	development	development	NOUN
fbem-16427	65	24	of	of	ADP
fbem-16427	65	25	enterprises	enterprise	NOUN
fbem-16427	65	26	is	be	AUX
fbem-16427	65	27	positive	positive	ADJ
fbem-16427	65	28	and	and	CCONJ
fbem-16427	65	29	significant	significant	ADJ
fbem-16427	65	30	at	at	ADP
fbem-16427	65	31	the	the	DET
fbem-16427	65	32	1	1	NUM
fbem-16427	65	33	%	%	NOUN
fbem-16427	65	34	level	level	NOUN
fbem-16427	65	35	.	.	PUNCT
fbem-16427	66	1	compared	compare	VERB
fbem-16427	66	2	with	with	ADP
fbem-16427	66	3	the	the	DET
fbem-16427	66	4	direct	direct	ADJ
fbem-16427	66	5	effects	effect	NOUN
fbem-16427	66	6	benchmark	benchmark	NOUN
fbem-16427	66	7	model	model	NOUN
fbem-16427	66	8	,	,	PUNCT
fbem-16427	66	9	the	the	DET
fbem-16427	66	10	regression	regression	NOUN
fbem-16427	66	11	coefficient	coefficient	NOUN
fbem-16427	66	12	of	of	ADP
fbem-16427	66	13	digital	digital	ADJ
fbem-16427	66	14	transformation	transformation	NOUN
fbem-16427	66	15	has	have	AUX
fbem-16427	66	16	decreased	decrease	VERB
fbem-16427	66	17	from	from	ADP
fbem-16427	66	18	0.164	0.164	NUM
fbem-16427	66	19	to	to	ADP
fbem-16427	66	20	0.157	0.157	NUM
fbem-16427	66	21	,	,	PUNCT
fbem-16427	66	22	but	but	CCONJ
fbem-16427	66	23	the	the	DET
fbem-16427	66	24	significance	significance	NOUN
fbem-16427	66	25	remains	remain	VERB
fbem-16427	66	26	unchanged	unchanged	ADJ
fbem-16427	66	27	.	.	PUNCT
fbem-16427	67	1	esg	esg	PROPN
fbem-16427	67	2	plays	play	VERB
fbem-16427	67	3	a	a	DET
fbem-16427	67	4	partial	partial	ADJ
fbem-16427	67	5	mediating	mediate	VERB
fbem-16427	67	6	role	role	NOUN
fbem-16427	67	7	between	between	ADP
fbem-16427	67	8	digital	digital	ADJ
fbem-16427	67	9	transformation	transformation	NOUN
fbem-16427	67	10	and	and	CCONJ
fbem-16427	67	11	highquality	highquality	NOUN
fbem-16427	67	12	development	development	NOUN
fbem-16427	67	13	of	of	ADP
fbem-16427	67	14	enterprises	enterprise	NOUN
fbem-16427	67	15	.	.	PUNCT
fbem-16427	68	1	therefore	therefore	ADV
fbem-16427	68	2	,	,	PUNCT
fbem-16427	68	3	hypothesis	hypothesis	NOUN
fbem-16427	68	4	2	2	NUM
fbem-16427	68	5	of	of	ADP
fbem-16427	68	6	this	this	DET
fbem-16427	68	7	article	article	NOUN
fbem-16427	68	8	has	have	AUX
fbem-16427	68	9	been	be	AUX
fbem-16427	68	10	validated	validate	VERB
fbem-16427	68	11	.	.	PUNCT
fbem-16427	69	1	table	table	NOUN
fbem-16427	69	2	5	5	NUM
fbem-16427	69	3	.	.	PUNCT
fbem-16427	70	1	mediation	mediation	NOUN
fbem-16427	70	2	effect	effect	NOUN
fbem-16427	70	3	regression	regression	NOUN
fbem-16427	70	4	results	result	VERB
fbem-16427	70	5	variable	variable	ADJ
fbem-16427	70	6	(	(	PUNCT
fbem-16427	70	7	1	1	NUM
fbem-16427	70	8	)	)	PUNCT
fbem-16427	70	9	(	(	PUNCT
fbem-16427	70	10	2	2	X
fbem-16427	70	11	)	)	PUNCT
fbem-16427	70	12	esg_score	esg_score	AUX
fbem-16427	70	13	hq	hq	NOUN
fbem-16427	70	14	esg_score	esg_score	VERB
fbem-16427	70	15	0.122	0.122	NUM
fbem-16427	70	16	*	*	PUNCT
fbem-16427	70	17	*	*	PUNCT
fbem-16427	70	18	*	*	PUNCT
fbem-16427	70	19	(	(	PUNCT
fbem-16427	70	20	0.035	0.035	NUM
fbem-16427	70	21	)	)	PUNCT
fbem-16427	70	22	dcg	dcg	PROPN
fbem-16427	70	23	0.062	0.062	NUM
fbem-16427	70	24	*	*	PUNCT
fbem-16427	70	25	*	*	PUNCT
fbem-16427	70	26	*	*	PUNCT
fbem-16427	70	27	0.157	0.157	NUM
fbem-16427	70	28	*	*	PUNCT
fbem-16427	70	29	*	*	PUNCT
fbem-16427	70	30	*	*	PUNCT
fbem-16427	70	31	(	(	PUNCT
fbem-16427	70	32	0.014	0.014	NUM
fbem-16427	70	33	)	)	PUNCT
fbem-16427	70	34	(	(	PUNCT
fbem-16427	70	35	0.035	0.035	NUM
fbem-16427	70	36	)	)	PUNCT
fbem-16427	70	37	control	control	NOUN
fbem-16427	70	38	variable	variable	NOUN
fbem-16427	71	1	yes	yes	INTJ
fbem-16427	71	2	yes	yes	INTJ
fbem-16427	71	3	time	time	NOUN
fbem-16427	71	4	fixed	fix	VERB
fbem-16427	71	5	effect	effect	NOUN
fbem-16427	72	1	yes	yes	INTJ
fbem-16427	72	2	yes	yes	INTJ
fbem-16427	72	3	industry	industry	NOUN
fbem-16427	72	4	fixed	fix	VERB
fbem-16427	72	5	effect	effect	NOUN
fbem-16427	73	1	yes	yes	INTJ
fbem-16427	73	2	yes	yes	INTJ
fbem-16427	73	3	cons	con	NOUN
fbem-16427	73	4	4.713	4.713	NUM
fbem-16427	73	5	*	*	PUNCT
fbem-16427	73	6	*	*	PUNCT
fbem-16427	73	7	*	*	PUNCT
fbem-16427	73	8	22.345	22.345	NUM
fbem-16427	73	9	*	*	PUNCT
fbem-16427	73	10	*	*	PUNCT
fbem-16427	73	11	*	*	PUNCT
fbem-16427	73	12	(	(	PUNCT
fbem-16427	73	13	0.495	0.495	NUM
fbem-16427	73	14	)	)	PUNCT
fbem-16427	73	15	(	(	PUNCT
fbem-16427	73	16	1.150	1.150	NUM
fbem-16427	73	17	)	)	PUNCT
fbem-16427	73	18	n	n	CCONJ
fbem-16427	73	19	11,435	11,435	NUM
fbem-16427	73	20	11,435	11,435	NUM
fbem-16427	73	21	r2	r2	NOUN
fbem-16427	73	22	0.044	0.044	NUM
fbem-16427	73	23	0.057	0.057	NUM
fbem-16427	73	24	4.4	4.4	NUM
fbem-16427	73	25	.	.	PUNCT
fbem-16427	74	1	robust	robust	ADJ
fbem-16427	74	2	test	test	NOUN
fbem-16427	74	3	1	1	NUM
fbem-16427	74	4	.	.	PUNCT
fbem-16427	75	1	instrumental	instrumental	ADJ
fbem-16427	75	2	variable	variable	ADJ
fbem-16427	75	3	method	method	NOUN
fbem-16427	75	4	there	there	PRON
fbem-16427	75	5	is	be	VERB
fbem-16427	75	6	research	research	NOUN
fbem-16427	75	7	indicating	indicate	VERB
fbem-16427	75	8	a	a	DET
fbem-16427	75	9	potential	potential	ADJ
fbem-16427	75	10	endogeneity	endogeneity	NOUN
fbem-16427	75	11	issue	issue	NOUN
fbem-16427	75	12	of	of	ADP
fbem-16427	75	13	reverse	reverse	ADJ
fbem-16427	75	14	causality	causality	NOUN
fbem-16427	75	15	between	between	ADP
fbem-16427	75	16	digital	digital	ADJ
fbem-16427	75	17	transformation	transformation	NOUN
fbem-16427	75	18	and	and	CCONJ
fbem-16427	75	19	highquality	highquality	NOUN
fbem-16427	75	20	development	development	NOUN
fbem-16427	75	21	of	of	ADP
fbem-16427	75	22	enterprises	enterprise	NOUN
fbem-16427	75	23	.	.	PUNCT
fbem-16427	76	1	the	the	PRON
fbem-16427	76	2	higher	high	ADJ
fbem-16427	76	3	the	the	DET
fbem-16427	76	4	level	level	NOUN
fbem-16427	76	5	of	of	ADP
fbem-16427	76	6	enterprise	enterprise	NOUN
fbem-16427	76	7	development	development	NOUN
fbem-16427	76	8	,	,	PUNCT
fbem-16427	76	9	the	the	PRON
fbem-16427	76	10	more	more	ADJ
fbem-16427	76	11	it	it	PRON
fbem-16427	76	12	will	will	AUX
fbem-16427	76	13	promote	promote	VERB
fbem-16427	76	14	digitalization	digitalization	NOUN
fbem-16427	76	15	.	.	PUNCT
fbem-16427	77	1	on	on	ADP
fbem-16427	77	2	the	the	DET
fbem-16427	77	3	one	one	NUM
fbem-16427	77	4	hand	hand	NOUN
fbem-16427	77	5	,	,	PUNCT
fbem-16427	77	6	high	high	ADJ
fbem-16427	77	7	-	-	PUNCT
fbem-16427	77	8	quality	quality	NOUN
fbem-16427	77	9	enterprises	enterprise	NOUN
fbem-16427	77	10	usually	usually	ADV
fbem-16427	77	11	have	have	VERB
fbem-16427	77	12	stronger	strong	ADJ
fbem-16427	77	13	financial	financial	ADJ
fbem-16427	77	14	strength	strength	NOUN
fbem-16427	77	15	and	and	CCONJ
fbem-16427	77	16	can	can	AUX
fbem-16427	77	17	invest	invest	VERB
fbem-16427	77	18	in	in	ADP
fbem-16427	77	19	expensive	expensive	ADJ
fbem-16427	77	20	digital	digital	ADJ
fbem-16427	77	21	technologies	technology	NOUN
fbem-16427	77	22	and	and	CCONJ
fbem-16427	77	23	infrastructure	infrastructure	NOUN
fbem-16427	77	24	.	.	PUNCT
fbem-16427	78	1	on	on	ADP
fbem-16427	78	2	the	the	DET
fbem-16427	78	3	other	other	ADJ
fbem-16427	78	4	hand	hand	NOUN
fbem-16427	78	5	,	,	PUNCT
fbem-16427	78	6	enterprises	enterprise	NOUN
fbem-16427	78	7	with	with	ADP
fbem-16427	78	8	higher	high	ADJ
fbem-16427	78	9	levels	level	NOUN
fbem-16427	78	10	of	of	ADP
fbem-16427	78	11	development	development	NOUN
fbem-16427	78	12	are	be	AUX
fbem-16427	78	13	more	more	ADV
fbem-16427	78	14	willing	willing	ADJ
fbem-16427	78	15	to	to	PART
fbem-16427	78	16	invest	invest	VERB
fbem-16427	78	17	in	in	ADP
fbem-16427	78	18	digital	digital	ADJ
fbem-16427	78	19	transformation	transformation	NOUN
fbem-16427	78	20	to	to	PART
fbem-16427	78	21	maintain	maintain	VERB
fbem-16427	78	22	their	their	PRON
fbem-16427	78	23	market	market	NOUN
fbem-16427	78	24	competitive	competitive	ADJ
fbem-16427	78	25	advantages	advantage	NOUN
fbem-16427	78	26	.	.	PUNCT
fbem-16427	79	1	therefore	therefore	ADV
fbem-16427	79	2	,	,	PUNCT
fbem-16427	79	3	in	in	ADP
fbem-16427	79	4	order	order	NOUN
fbem-16427	79	5	to	to	PART
fbem-16427	79	6	alleviate	alleviate	VERB
fbem-16427	79	7	potential	potential	ADJ
fbem-16427	79	8	endogeneity	endogeneity	NOUN
fbem-16427	79	9	issues	issue	NOUN
fbem-16427	79	10	,	,	PUNCT
fbem-16427	79	11	this	this	DET
fbem-16427	79	12	study	study	NOUN
fbem-16427	79	13	used	use	VERB
fbem-16427	79	14	lagged	lag	VERB
fbem-16427	79	15	data	datum	NOUN
fbem-16427	79	16	from	from	ADP
fbem-16427	79	17	enterprise	enterprise	NOUN
fbem-16427	79	18	digital	digital	ADJ
fbem-16427	79	19	transformation	transformation	NOUN
fbem-16427	79	20	as	as	ADP
fbem-16427	79	21	instrumental	instrumental	ADJ
fbem-16427	79	22	variables	variable	NOUN
fbem-16427	79	23	and	and	CCONJ
fbem-16427	79	24	performed	perform	VERB
fbem-16427	79	25	a	a	DET
fbem-16427	79	26	two	two	NUM
fbem-16427	79	27	-	-	PUNCT
fbem-16427	79	28	stage	stage	NOUN
fbem-16427	79	29	least	least	ADJ
fbem-16427	79	30	squares	square	NOUN
fbem-16427	79	31	method	method	NOUN
fbem-16427	79	32	for	for	ADP
fbem-16427	79	33	estimation	estimation	NOUN
fbem-16427	79	34	.	.	PUNCT
fbem-16427	80	1	the	the	DET
fbem-16427	80	2	results	result	NOUN
fbem-16427	80	3	indicate	indicate	VERB
fbem-16427	80	4	that	that	SCONJ
fbem-16427	80	5	digital	digital	ADJ
fbem-16427	80	6	transformation	transformation	NOUN
fbem-16427	80	7	still	still	ADV
fbem-16427	80	8	has	have	VERB
fbem-16427	80	9	a	a	DET
fbem-16427	80	10	significant	significant	ADJ
fbem-16427	80	11	promoting	promote	VERB
fbem-16427	80	12	effect	effect	NOUN
fbem-16427	80	13	on	on	ADP
fbem-16427	80	14	the	the	DET
fbem-16427	80	15	esg	esg	NOUN
fbem-16427	80	16	performance	performance	NOUN
fbem-16427	80	17	and	and	CCONJ
fbem-16427	80	18	high	high	ADJ
fbem-16427	80	19	-	-	PUNCT
fbem-16427	80	20	quality	quality	NOUN
fbem-16427	80	21	development	development	NOUN
fbem-16427	80	22	level	level	NOUN
fbem-16427	80	23	of	of	ADP
fbem-16427	80	24	enterprises	enterprise	NOUN
fbem-16427	80	25	.	.	PUNCT
fbem-16427	81	1	the	the	DET
fbem-16427	81	2	regression	regression	NOUN
fbem-16427	81	3	results	result	NOUN
fbem-16427	81	4	are	be	AUX
fbem-16427	81	5	basically	basically	ADV
fbem-16427	81	6	consistent	consistent	ADJ
fbem-16427	81	7	with	with	ADP
fbem-16427	81	8	the	the	DET
fbem-16427	81	9	previous	previous	ADJ
fbem-16427	81	10	assumptions	assumption	NOUN
fbem-16427	81	11	,	,	PUNCT
fbem-16427	81	12	indicating	indicate	VERB
fbem-16427	81	13	that	that	SCONJ
fbem-16427	81	14	endogeneity	endogeneity	NOUN
fbem-16427	81	15	issues	issue	NOUN
fbem-16427	81	16	do	do	AUX
fbem-16427	81	17	not	not	PART
fbem-16427	81	18	affect	affect	VERB
fbem-16427	81	19	the	the	DET
fbem-16427	81	20	robustness	robustness	NOUN
fbem-16427	81	21	of	of	ADP
fbem-16427	81	22	the	the	DET
fbem-16427	81	23	research	research	NOUN
fbem-16427	81	24	conclusions	conclusion	NOUN
fbem-16427	81	25	in	in	ADP
fbem-16427	81	26	this	this	DET
fbem-16427	81	27	article	article	NOUN
fbem-16427	81	28	.	.	PUNCT
fbem-16427	82	1	2	2	X
fbem-16427	82	2	.	.	X
fbem-16427	82	3	replace	replace	VERB
fbem-16427	82	4	the	the	DET
fbem-16427	82	5	dependent	dependent	ADJ
fbem-16427	82	6	variable	variable	NOUN
fbem-16427	82	7	although	although	SCONJ
fbem-16427	82	8	relying	rely	VERB
fbem-16427	82	9	on	on	ADP
fbem-16427	82	10	a	a	DET
fbem-16427	82	11	single	single	ADJ
fbem-16427	82	12	total	total	ADJ
fbem-16427	82	13	factor	factor	NOUN
fbem-16427	82	14	productivity	productivity	NOUN
fbem-16427	82	15	to	to	PART
fbem-16427	82	16	evaluate	evaluate	VERB
fbem-16427	82	17	the	the	DET
fbem-16427	82	18	high	high	ADJ
fbem-16427	82	19	-	-	PUNCT
fbem-16427	82	20	quality	quality	NOUN
fbem-16427	82	21	development	development	NOUN
fbem-16427	82	22	of	of	ADP
fbem-16427	82	23	enterprises	enterprise	NOUN
fbem-16427	82	24	has	have	VERB
fbem-16427	82	25	certain	certain	ADJ
fbem-16427	82	26	limitations	limitation	NOUN
fbem-16427	82	27	.	.	PUNCT
fbem-16427	83	1	but	but	CCONJ
fbem-16427	83	2	usually	usually	ADV
fbem-16427	83	3	,	,	PUNCT
fbem-16427	83	4	enterprises	enterprise	NOUN
fbem-16427	83	5	with	with	ADP
fbem-16427	83	6	higher	high	ADJ
fbem-16427	83	7	total	total	ADJ
fbem-16427	83	8	factor	factor	NOUN
fbem-16427	83	9	productivity	productivity	NOUN
fbem-16427	83	10	have	have	VERB
fbem-16427	83	11	stronger	strong	ADJ
fbem-16427	83	12	market	market	NOUN
fbem-16427	83	13	core	core	NOUN
fbem-16427	83	14	competitiveness	competitiveness	NOUN
fbem-16427	83	15	.	.	PUNCT
fbem-16427	84	1	at	at	ADP
fbem-16427	84	2	the	the	DET
fbem-16427	84	3	micro	micro	ADJ
fbem-16427	84	4	level	level	NOUN
fbem-16427	84	5	,	,	PUNCT
fbem-16427	84	6	the	the	DET
fbem-16427	84	7	improvement	improvement	NOUN
fbem-16427	84	8	of	of	ADP
fbem-16427	84	9	total	total	ADJ
fbem-16427	84	10	factor	factor	NOUN
fbem-16427	84	11	productivity	productivity	NOUN
fbem-16427	84	12	is	be	AUX
fbem-16427	84	13	seen	see	VERB
fbem-16427	84	14	as	as	ADP
fbem-16427	84	15	an	an	DET
fbem-16427	84	16	important	important	ADJ
fbem-16427	84	17	driving	driving	NOUN
fbem-16427	84	18	force	force	NOUN
fbem-16427	84	19	for	for	ADP
fbem-16427	84	20	sustainable	sustainable	ADJ
fbem-16427	84	21	growth	growth	NOUN
fbem-16427	84	22	and	and	CCONJ
fbem-16427	84	23	high	high	ADJ
fbem-16427	84	24	-	-	PUNCT
fbem-16427	84	25	quality	quality	NOUN
fbem-16427	84	26	development	development	NOUN
fbem-16427	84	27	of	of	ADP
fbem-16427	84	28	enterprises	enterprise	NOUN
fbem-16427	84	29	.	.	PUNCT
fbem-16427	85	1	therefore	therefore	ADV
fbem-16427	85	2	,	,	PUNCT
fbem-16427	85	3	this	this	DET
fbem-16427	85	4	article	article	NOUN
fbem-16427	85	5	uses	use	VERB
fbem-16427	85	6	the	the	DET
fbem-16427	85	7	lp	lp	ADJ
fbem-16427	85	8	method	method	NOUN
fbem-16427	85	9	to	to	PART
fbem-16427	85	10	calculate	calculate	VERB
fbem-16427	85	11	the	the	DET
fbem-16427	85	12	total	total	ADJ
fbem-16427	85	13	factor	factor	NOUN
fbem-16427	85	14	productivity	productivity	NOUN
fbem-16427	85	15	of	of	ADP
fbem-16427	85	16	enterprises	enterprise	NOUN
fbem-16427	85	17	as	as	ADP
fbem-16427	85	18	an	an	DET
fbem-16427	85	19	alternative	alternative	ADJ
fbem-16427	85	20	indicator	indicator	NOUN
fbem-16427	85	21	to	to	PART
fbem-16427	85	22	evaluate	evaluate	VERB
fbem-16427	85	23	the	the	DET
fbem-16427	85	24	level	level	NOUN
fbem-16427	85	25	of	of	ADP
fbem-16427	85	26	high	high	ADJ
fbem-16427	85	27	-	-	PUNCT
fbem-16427	85	28	quality	quality	NOUN
fbem-16427	85	29	development	development	NOUN
fbem-16427	85	30	of	of	ADP
fbem-16427	85	31	enterprises	enterprise	NOUN
fbem-16427	85	32	for	for	ADP
fbem-16427	85	33	robustness	robustness	NOUN
fbem-16427	85	34	testing	testing	NOUN
fbem-16427	85	35	.	.	PUNCT
fbem-16427	86	1	after	after	ADP
fbem-16427	86	2	changing	change	VERB
fbem-16427	86	3	the	the	DET
fbem-16427	86	4	evaluation	evaluation	NOUN
fbem-16427	86	5	indicators	indicator	NOUN
fbem-16427	86	6	for	for	ADP
fbem-16427	86	7	the	the	DET
fbem-16427	86	8	high	high	ADJ
fbem-16427	86	9	-	-	PUNCT
fbem-16427	86	10	quality	quality	NOUN
fbem-16427	86	11	development	development	NOUN
fbem-16427	86	12	level	level	NOUN
fbem-16427	86	13	of	of	ADP
fbem-16427	86	14	enterprises	enterprise	NOUN
fbem-16427	86	15	,	,	PUNCT
fbem-16427	86	16	the	the	DET
fbem-16427	86	17	degree	degree	NOUN
fbem-16427	86	18	of	of	ADP
fbem-16427	86	19	digital	digital	ADJ
fbem-16427	86	20	transformation	transformation	NOUN
fbem-16427	86	21	is	be	AUX
fbem-16427	86	22	significantly	significantly	ADV
fbem-16427	86	23	positively	positively	ADV
fbem-16427	86	24	correlated	correlate	VERB
fbem-16427	86	25	with	with	ADP
fbem-16427	86	26	the	the	DET
fbem-16427	86	27	total	total	ADJ
fbem-16427	86	28	factor	factor	NOUN
fbem-16427	86	29	productivity	productivity	NOUN
fbem-16427	86	30	of	of	ADP
fbem-16427	86	31	enterprises	enterprise	NOUN
fbem-16427	86	32	at	at	ADP
fbem-16427	86	33	the	the	DET
fbem-16427	86	34	1	1	NUM
fbem-16427	86	35	%	%	NOUN
fbem-16427	86	36	level	level	NOUN
fbem-16427	86	37	.	.	PUNCT
fbem-16427	87	1	the	the	DET
fbem-16427	87	2	research	research	NOUN
fbem-16427	87	3	conclusion	conclusion	NOUN
fbem-16427	87	4	of	of	ADP
fbem-16427	87	5	this	this	DET
fbem-16427	87	6	article	article	NOUN
fbem-16427	87	7	is	be	AUX
fbem-16427	87	8	still	still	ADV
fbem-16427	87	9	robust	robust	ADJ
fbem-16427	87	10	.	.	PUNCT
fbem-16427	88	1	3	3	X
fbem-16427	88	2	.	.	X
fbem-16427	88	3	replace	replace	VERB
fbem-16427	88	4	the	the	DET
fbem-16427	88	5	explanatory	explanatory	ADJ
fbem-16427	88	6	variable	variable	NOUN
fbem-16427	88	7	in	in	ADP
fbem-16427	88	8	order	order	NOUN
fbem-16427	88	9	to	to	PART
fbem-16427	88	10	further	far	ADV
fbem-16427	88	11	verify	verify	VERB
fbem-16427	88	12	the	the	DET
fbem-16427	88	13	robustness	robustness	NOUN
fbem-16427	88	14	and	and	CCONJ
fbem-16427	88	15	credibility	credibility	NOUN
fbem-16427	88	16	of	of	ADP
fbem-16427	88	17	the	the	DET
fbem-16427	88	18	conclusions	conclusion	NOUN
fbem-16427	88	19	in	in	ADP
fbem-16427	88	20	this	this	DET
fbem-16427	88	21	article	article	NOUN
fbem-16427	88	22	,	,	PUNCT
fbem-16427	88	23	and	and	CCONJ
fbem-16427	88	24	to	to	PART
fbem-16427	88	25	avoid	avoid	VERB
fbem-16427	88	26	accidental	accidental	ADJ
fbem-16427	88	27	results	result	NOUN
fbem-16427	88	28	caused	cause	VERB
fbem-16427	88	29	by	by	ADP
fbem-16427	88	30	the	the	DET
fbem-16427	88	31	selection	selection	NOUN
fbem-16427	88	32	of	of	ADP
fbem-16427	88	33	dependent	dependent	ADJ
fbem-16427	88	34	variables	variable	NOUN
fbem-16427	88	35	.	.	PUNCT
fbem-16427	89	1	this	this	DET
fbem-16427	89	2	article	article	NOUN
fbem-16427	89	3	refers	refer	VERB
fbem-16427	89	4	to	to	ADP
fbem-16427	89	5	the	the	DET
fbem-16427	89	6	approach	approach	NOUN
fbem-16427	89	7	of	of	ADP
fbem-16427	89	8	yuan	yuan	PROPN
fbem-16427	89	9	et	et	PROPN
fbem-16427	89	10	al	al	PROPN
fbem-16427	89	11	.	.	PROPN
fbem-16427	89	12	(	(	PUNCT
fbem-16427	89	13	2021	2021	NUM
fbem-16427	89	14	)	)	PUNCT
fbem-16427	89	15	to	to	PART
fbem-16427	89	16	conduct	conduct	VERB
fbem-16427	89	17	text	text	NOUN
fbem-16427	89	18	analysis	analysis	NOUN
fbem-16427	89	19	and	and	CCONJ
fbem-16427	89	20	statistical	statistical	ADJ
fbem-16427	89	21	analysis	analysis	NOUN
fbem-16427	89	22	of	of	ADP
fbem-16427	89	23	digital	digital	ADJ
fbem-16427	89	24	word	word	NOUN
fbem-16427	89	25	frequency	frequency	NOUN
fbem-16427	89	26	in	in	ADP
fbem-16427	89	27	enterprise	enterprise	NOUN
fbem-16427	89	28	annual	annual	ADJ
fbem-16427	89	29	reports	report	NOUN
fbem-16427	89	30	.	.	PUNCT
fbem-16427	90	1	considering	consider	VERB
fbem-16427	90	2	that	that	SCONJ
fbem-16427	90	3	the	the	DET
fbem-16427	90	4	length	length	NOUN
fbem-16427	90	5	of	of	ADP
fbem-16427	90	6	the	the	DET
fbem-16427	90	7	"	"	PUNCT
fbem-16427	90	8	management	management	NOUN
fbem-16427	90	9	discussion	discussion	NOUN
fbem-16427	90	10	and	and	CCONJ
fbem-16427	90	11	analysis	analysis	NOUN
fbem-16427	90	12	"	"	PUNCT
fbem-16427	90	13	section	section	NOUN
fbem-16427	90	14	of	of	ADP
fbem-16427	90	15	different	different	ADJ
fbem-16427	90	16	enterprise	enterprise	NOUN
fbem-16427	90	17	annual	annual	ADJ
fbem-16427	90	18	reports	report	NOUN
fbem-16427	90	19	is	be	AUX
fbem-16427	90	20	different	different	ADJ
fbem-16427	90	21	,	,	PUNCT
fbem-16427	90	22	the	the	DET
fbem-16427	90	23	total	total	ADJ
fbem-16427	90	24	number	number	NOUN
fbem-16427	90	25	of	of	ADP
fbem-16427	90	26	digital	digital	ADJ
fbem-16427	90	27	transformation	transformation	NOUN
fbem-16427	90	28	word	word	NOUN
fbem-16427	90	29	frequencies	frequency	NOUN
fbem-16427	90	30	in	in	ADP
fbem-16427	90	31	enterprise	enterprise	NOUN
fbem-16427	90	32	annual	annual	ADJ
fbem-16427	90	33	reports	report	NOUN
fbem-16427	90	34	divided	divide	VERB
fbem-16427	90	35	by	by	ADP
fbem-16427	90	36	the	the	DET
fbem-16427	90	37	total	total	ADJ
fbem-16427	90	38	length	length	NOUN
fbem-16427	90	39	of	of	ADP
fbem-16427	90	40	the	the	DET
fbem-16427	90	41	md&a	md&a	PROPN
fbem-16427	90	42	section	section	NOUN
fbem-16427	90	43	of	of	ADP
fbem-16427	90	44	the	the	DET
fbem-16427	90	45	text	text	NOUN
fbem-16427	90	46	is	be	AUX
fbem-16427	90	47	used	use	VERB
fbem-16427	90	48	as	as	ADP
fbem-16427	90	49	an	an	DET
fbem-16427	90	50	indicator	indicator	NOUN
fbem-16427	90	51	of	of	ADP
fbem-16427	90	52	the	the	DET
fbem-16427	90	53	degree	degree	NOUN
fbem-16427	90	54	of	of	ADP
fbem-16427	90	55	enterprise	enterprise	NOUN
fbem-16427	90	56	digital	digital	ADJ
fbem-16427	90	57	transformation	transformation	NOUN
fbem-16427	90	58	,	,	PUNCT
fbem-16427	90	59	and	and	CCONJ
fbem-16427	90	60	regression	regression	VERB
fbem-16427	90	61	analysis	analysis	NOUN
fbem-16427	90	62	is	be	AUX
fbem-16427	90	63	added	add	VERB
fbem-16427	90	64	to	to	ADP
fbem-16427	90	65	the	the	DET
fbem-16427	90	66	benchmark	benchmark	NOUN
fbem-16427	90	67	model	model	NOUN
fbem-16427	90	68	mentioned	mention	VERB
fbem-16427	90	69	earlier	early	ADV
fbem-16427	90	70	.	.	PUNCT
fbem-16427	91	1	the	the	DET
fbem-16427	91	2	results	result	NOUN
fbem-16427	91	3	indicate	indicate	VERB
fbem-16427	91	4	that	that	SCONJ
fbem-16427	91	5	digital	digital	ADJ
fbem-16427	91	6	transformation	transformation	NOUN
fbem-16427	91	7	is	be	AUX
fbem-16427	91	8	significantly	significantly	ADV
fbem-16427	91	9	positively	positively	ADV
fbem-16427	91	10	correlated	correlate	VERB
fbem-16427	91	11	with	with	ADP
fbem-16427	91	12	the	the	DET
fbem-16427	91	13	level	level	NOUN
fbem-16427	91	14	of	of	ADP
fbem-16427	91	15	high	high	ADJ
fbem-16427	91	16	-	-	PUNCT
fbem-16427	91	17	quality	quality	NOUN
fbem-16427	91	18	development	development	NOUN
fbem-16427	91	19	of	of	ADP
fbem-16427	91	20	enterprises	enterprise	NOUN
fbem-16427	91	21	,	,	PUNCT
fbem-16427	91	22	and	and	CCONJ
fbem-16427	91	23	the	the	DET
fbem-16427	91	24	conclusion	conclusion	NOUN
fbem-16427	91	25	is	be	AUX
fbem-16427	91	26	consistent	consistent	ADJ
fbem-16427	91	27	with	with	ADP
fbem-16427	91	28	the	the	DET
fbem-16427	91	29	previous	previous	ADJ
fbem-16427	91	30	text	text	NOUN
fbem-16427	91	31	.	.	PUNCT
fbem-16427	92	1	10	10	NUM
fbem-16427	92	2	5	5	NUM
fbem-16427	92	3	.	.	PUNCT
fbem-16427	92	4	conclusions	conclusion	NOUN
fbem-16427	92	5	and	and	CCONJ
fbem-16427	92	6	recommendations	recommendation	NOUN
fbem-16427	92	7	5.1	5.1	NUM
fbem-16427	92	8	.	.	PUNCT
fbem-16427	93	1	conclusion	conclusion	NOUN
fbem-16427	93	2	this	this	DET
fbem-16427	93	3	article	article	NOUN
fbem-16427	93	4	takes	take	VERB
fbem-16427	93	5	a	a	DET
fbem-16427	93	6	-	-	PUNCT
fbem-16427	93	7	share	share	NOUN
fbem-16427	93	8	listed	list	VERB
fbem-16427	93	9	companies	company	NOUN
fbem-16427	93	10	in	in	ADP
fbem-16427	93	11	shanghai	shanghai	PROPN
fbem-16427	93	12	and	and	CCONJ
fbem-16427	93	13	shenzhen	shenzhen	PROPN
fbem-16427	93	14	from	from	ADP
fbem-16427	93	15	2012	2012	NUM
fbem-16427	93	16	to	to	ADP
fbem-16427	93	17	2022	2022	NUM
fbem-16427	93	18	as	as	SCONJ
fbem-16427	93	19	research	research	NOUN
fbem-16427	93	20	samples	sample	NOUN
fbem-16427	93	21	to	to	PART
fbem-16427	93	22	explore	explore	VERB
fbem-16427	93	23	the	the	DET
fbem-16427	93	24	impact	impact	NOUN
fbem-16427	93	25	and	and	CCONJ
fbem-16427	93	26	internal	internal	ADJ
fbem-16427	93	27	mechanism	mechanism	NOUN
fbem-16427	93	28	of	of	ADP
fbem-16427	93	29	digital	digital	ADJ
fbem-16427	93	30	transformation	transformation	NOUN
fbem-16427	93	31	empowering	empower	VERB
fbem-16427	93	32	high	high	ADJ
fbem-16427	93	33	-	-	PUNCT
fbem-16427	93	34	quality	quality	NOUN
fbem-16427	93	35	development	development	NOUN
fbem-16427	93	36	of	of	ADP
fbem-16427	93	37	enterprises	enterprise	NOUN
fbem-16427	93	38	.	.	PUNCT
fbem-16427	94	1	research	research	NOUN
fbem-16427	94	2	has	have	AUX
fbem-16427	94	3	found	find	VERB
fbem-16427	94	4	that	that	SCONJ
fbem-16427	94	5	:	:	PUNCT
fbem-16427	94	6	(	(	PUNCT
fbem-16427	94	7	1	1	X
fbem-16427	94	8	)	)	PUNCT
fbem-16427	94	9	digital	digital	ADJ
fbem-16427	94	10	transformation	transformation	NOUN
fbem-16427	94	11	of	of	ADP
fbem-16427	94	12	enterprises	enterprise	NOUN
fbem-16427	94	13	has	have	VERB
fbem-16427	94	14	a	a	DET
fbem-16427	94	15	significant	significant	ADJ
fbem-16427	94	16	positive	positive	ADJ
fbem-16427	94	17	impact	impact	NOUN
fbem-16427	94	18	on	on	ADP
fbem-16427	94	19	improving	improve	VERB
fbem-16427	94	20	esg	esg	NOUN
fbem-16427	94	21	performance	performance	NOUN
fbem-16427	94	22	and	and	CCONJ
fbem-16427	94	23	promoting	promote	VERB
fbem-16427	94	24	high	high	ADJ
fbem-16427	94	25	-	-	PUNCT
fbem-16427	94	26	quality	quality	NOUN
fbem-16427	94	27	development	development	NOUN
fbem-16427	94	28	;	;	PUNCT
fbem-16427	94	29	(	(	PUNCT
fbem-16427	94	30	2	2	X
fbem-16427	94	31	)	)	PUNCT
fbem-16427	94	32	esg	esg	NOUN
fbem-16427	94	33	plays	play	VERB
fbem-16427	94	34	an	an	DET
fbem-16427	94	35	intermediary	intermediary	ADJ
fbem-16427	94	36	role	role	NOUN
fbem-16427	94	37	in	in	ADP
fbem-16427	94	38	the	the	DET
fbem-16427	94	39	mechanism	mechanism	NOUN
fbem-16427	94	40	of	of	ADP
fbem-16427	94	41	driving	drive	VERB
fbem-16427	94	42	high	high	ADJ
fbem-16427	94	43	-	-	PUNCT
fbem-16427	94	44	quality	quality	NOUN
fbem-16427	94	45	development	development	NOUN
fbem-16427	94	46	of	of	ADP
fbem-16427	94	47	enterprises	enterprise	NOUN
fbem-16427	94	48	through	through	ADP
fbem-16427	94	49	digital	digital	ADJ
fbem-16427	94	50	transformation	transformation	NOUN
fbem-16427	94	51	.	.	PUNCT
fbem-16427	95	1	in	in	ADP
fbem-16427	95	2	the	the	DET
fbem-16427	95	3	era	era	NOUN
fbem-16427	95	4	of	of	ADP
fbem-16427	95	5	digital	digital	ADJ
fbem-16427	95	6	economy	economy	NOUN
fbem-16427	95	7	,	,	PUNCT
fbem-16427	95	8	how	how	SCONJ
fbem-16427	95	9	to	to	PART
fbem-16427	95	10	adapt	adapt	VERB
fbem-16427	95	11	to	to	ADP
fbem-16427	95	12	the	the	DET
fbem-16427	95	13	trend	trend	NOUN
fbem-16427	95	14	of	of	ADP
fbem-16427	95	15	accounting	accounting	NOUN
fbem-16427	95	16	personnel	personnel	NOUN
fbem-16427	95	17	training	training	NOUN
fbem-16427	95	18	in	in	ADP
fbem-16427	95	19	the	the	DET
fbem-16427	95	20	new	new	ADJ
fbem-16427	95	21	era	era	NOUN
fbem-16427	95	22	is	be	AUX
fbem-16427	95	23	a	a	DET
fbem-16427	95	24	hot	hot	ADJ
fbem-16427	95	25	issue	issue	NOUN
fbem-16427	95	26	for	for	ADP
fbem-16427	95	27	educators	educator	NOUN
fbem-16427	95	28	.	.	PUNCT
fbem-16427	96	1	from	from	ADP
fbem-16427	96	2	the	the	DET
fbem-16427	96	3	perspective	perspective	NOUN
fbem-16427	96	4	of	of	ADP
fbem-16427	96	5	accounting	account	VERB
fbem-16427	96	6	education	education	NOUN
fbem-16427	96	7	in	in	ADP
fbem-16427	96	8	universities	university	NOUN
fbem-16427	96	9	,	,	PUNCT
fbem-16427	96	10	this	this	DET
fbem-16427	96	11	paper	paper	NOUN
fbem-16427	96	12	discusses	discuss	VERB
fbem-16427	96	13	the	the	DET
fbem-16427	96	14	impact	impact	NOUN
fbem-16427	96	15	of	of	ADP
fbem-16427	96	16	digital	digital	ADJ
fbem-16427	96	17	economy	economy	NOUN
fbem-16427	96	18	on	on	ADP
fbem-16427	96	19	the	the	DET
fbem-16427	96	20	market	market	NOUN
fbem-16427	96	21	employment	employment	NOUN
fbem-16427	96	22	,	,	PUNCT
fbem-16427	96	23	technology	technology	NOUN
fbem-16427	96	24	application	application	NOUN
fbem-16427	96	25	and	and	CCONJ
fbem-16427	96	26	personnel	personnel	NOUN
fbem-16427	96	27	training	training	NOUN
fbem-16427	96	28	of	of	ADP
fbem-16427	96	29	accounting	accounting	NOUN
fbem-16427	96	30	students	student	NOUN
fbem-16427	96	31	,	,	PUNCT
fbem-16427	96	32	and	and	CCONJ
fbem-16427	96	33	puts	put	VERB
fbem-16427	96	34	forward	forward	ADV
fbem-16427	96	35	some	some	DET
fbem-16427	96	36	suggestions	suggestion	NOUN
fbem-16427	96	37	for	for	ADP
fbem-16427	96	38	accounting	account	VERB
fbem-16427	96	39	education	education	NOUN
fbem-16427	96	40	in	in	ADP
fbem-16427	96	41	universities	university	NOUN
fbem-16427	96	42	with	with	ADP
fbem-16427	96	43	the	the	DET
fbem-16427	96	44	goal	goal	NOUN
fbem-16427	96	45	of	of	ADP
fbem-16427	96	46	cultivating	cultivate	VERB
fbem-16427	96	47	compound	compound	NOUN
fbem-16427	96	48	accounting	accounting	NOUN
fbem-16427	96	49	talents	talent	NOUN
fbem-16427	96	50	.	.	PUNCT
fbem-16427	97	1	these	these	DET
fbem-16427	97	2	suggestions	suggestion	NOUN
fbem-16427	97	3	include	include	VERB
fbem-16427	97	4	cultivating	cultivate	VERB
fbem-16427	97	5	compound	compound	NOUN
fbem-16427	97	6	accounting	accounting	NOUN
fbem-16427	97	7	talents	talent	NOUN
fbem-16427	97	8	needed	need	VERB
fbem-16427	97	9	by	by	ADP
fbem-16427	97	10	digital	digital	ADJ
fbem-16427	97	11	economy	economy	NOUN
fbem-16427	97	12	,	,	PUNCT
fbem-16427	97	13	integrating	integrate	VERB
fbem-16427	97	14	production	production	NOUN
fbem-16427	97	15	and	and	CCONJ
fbem-16427	97	16	education	education	NOUN
fbem-16427	97	17	to	to	PART
fbem-16427	97	18	shape	shape	VERB
fbem-16427	97	19	digital	digital	ADJ
fbem-16427	97	20	accounting	accounting	NOUN
fbem-16427	97	21	professional	professional	ADJ
fbem-16427	97	22	skills	skill	NOUN
fbem-16427	97	23	,	,	PUNCT
fbem-16427	97	24	embracing	embrace	VERB
fbem-16427	97	25	digital	digital	ADJ
fbem-16427	97	26	development	development	NOUN
fbem-16427	97	27	to	to	PART
fbem-16427	97	28	promote	promote	VERB
fbem-16427	97	29	the	the	DET
fbem-16427	97	30	transformation	transformation	NOUN
fbem-16427	97	31	of	of	ADP
fbem-16427	97	32	accounting	accounting	NOUN
fbem-16427	97	33	curriculum	curriculum	NOUN
fbem-16427	97	34	system	system	NOUN
fbem-16427	97	35	,	,	PUNCT
fbem-16427	97	36	and	and	CCONJ
fbem-16427	97	37	combining	combine	VERB
fbem-16427	97	38	new	new	ADJ
fbem-16427	97	39	technology	technology	NOUN
fbem-16427	97	40	to	to	PART
fbem-16427	97	41	innovate	innovate	VERB
fbem-16427	97	42	multi	multi	ADJ
fbem-16427	97	43	situational	situational	ADJ
fbem-16427	97	44	accounting	accounting	NOUN
fbem-16427	97	45	teaching	teaching	NOUN
fbem-16427	97	46	methods	method	NOUN
fbem-16427	97	47	.	.	PUNCT
fbem-16427	98	1	the	the	DET
fbem-16427	98	2	research	research	NOUN
fbem-16427	98	3	conclusions	conclusion	NOUN
fbem-16427	98	4	provide	provide	VERB
fbem-16427	98	5	ideas	idea	NOUN
fbem-16427	98	6	and	and	CCONJ
fbem-16427	98	7	reference	reference	NOUN
fbem-16427	98	8	for	for	ADP
fbem-16427	98	9	the	the	DET
fbem-16427	98	10	transformation	transformation	NOUN
fbem-16427	98	11	of	of	ADP
fbem-16427	98	12	accounting	accounting	NOUN
fbem-16427	98	13	education	education	NOUN
fbem-16427	98	14	in	in	ADP
fbem-16427	98	15	universities	university	NOUN
fbem-16427	98	16	,	,	PUNCT
fbem-16427	98	17	and	and	CCONJ
fbem-16427	98	18	are	be	AUX
fbem-16427	98	19	greatly	greatly	ADV
fbem-16427	98	20	benefit	benefit	ADJ
fbem-16427	98	21	to	to	ADP
fbem-16427	98	22	the	the	DET
fbem-16427	98	23	realization	realization	NOUN
fbem-16427	98	24	of	of	ADP
fbem-16427	98	25	high	high	ADJ
fbem-16427	98	26	-	-	PUNCT
fbem-16427	98	27	quality	quality	NOUN
fbem-16427	98	28	development	development	NOUN
fbem-16427	98	29	in	in	ADP
fbem-16427	98	30	china	china	PROPN
fbem-16427	98	31	in	in	ADP
fbem-16427	98	32	the	the	DET
fbem-16427	98	33	era	era	NOUN
fbem-16427	98	34	of	of	ADP
fbem-16427	98	35	digital	digital	ADJ
fbem-16427	98	36	economy	economy	NOUN
fbem-16427	98	37	from	from	ADP
fbem-16427	98	38	the	the	DET
fbem-16427	98	39	perspective	perspective	NOUN
fbem-16427	98	40	of	of	ADP
fbem-16427	98	41	talent	talent	NOUN
fbem-16427	98	42	cultivation	cultivation	NOUN
fbem-16427	98	43	and	and	CCONJ
fbem-16427	98	44	supply	supply	NOUN
fbem-16427	98	45	.	.	PUNCT
fbem-16427	99	1	5.2	5.2	NUM
fbem-16427	99	2	.	.	PUNCT
fbem-16427	100	1	recommendation	recommendation	NOUN
fbem-16427	100	2	firstly	firstly	ADV
fbem-16427	100	3	,	,	PUNCT
fbem-16427	100	4	in	in	ADP
fbem-16427	100	5	order	order	NOUN
fbem-16427	100	6	to	to	PART
fbem-16427	100	7	stimulate	stimulate	VERB
fbem-16427	100	8	the	the	DET
fbem-16427	100	9	potential	potential	NOUN
fbem-16427	100	10	of	of	ADP
fbem-16427	100	11	digital	digital	ADJ
fbem-16427	100	12	transformation	transformation	NOUN
fbem-16427	100	13	in	in	ADP
fbem-16427	100	14	promoting	promote	VERB
fbem-16427	100	15	high	high	ADJ
fbem-16427	100	16	-	-	PUNCT
fbem-16427	100	17	quality	quality	NOUN
fbem-16427	100	18	development	development	NOUN
fbem-16427	100	19	,	,	PUNCT
fbem-16427	100	20	the	the	DET
fbem-16427	100	21	role	role	NOUN
fbem-16427	100	22	of	of	ADP
fbem-16427	100	23	the	the	DET
fbem-16427	100	24	government	government	NOUN
fbem-16427	100	25	is	be	AUX
fbem-16427	100	26	crucial	crucial	ADJ
fbem-16427	100	27	.	.	PUNCT
fbem-16427	101	1	firstly	firstly	ADV
fbem-16427	101	2	,	,	PUNCT
fbem-16427	101	3	the	the	DET
fbem-16427	101	4	government	government	NOUN
fbem-16427	101	5	should	should	AUX
fbem-16427	101	6	focus	focus	VERB
fbem-16427	101	7	on	on	ADP
fbem-16427	101	8	investing	invest	VERB
fbem-16427	101	9	in	in	ADP
fbem-16427	101	10	key	key	ADJ
fbem-16427	101	11	digital	digital	ADJ
fbem-16427	101	12	infrastructure	infrastructure	NOUN
fbem-16427	101	13	such	such	ADJ
fbem-16427	101	14	as	as	ADP
fbem-16427	101	15	industrial	industrial	ADJ
fbem-16427	101	16	internet	internet	NOUN
fbem-16427	101	17	and	and	CCONJ
fbem-16427	101	18	data	datum	NOUN
fbem-16427	101	19	centers	center	NOUN
fbem-16427	101	20	,	,	PUNCT
fbem-16427	101	21	providing	provide	VERB
fbem-16427	101	22	necessary	necessary	ADJ
fbem-16427	101	23	technological	technological	ADJ
fbem-16427	101	24	and	and	CCONJ
fbem-16427	101	25	physical	physical	ADJ
fbem-16427	101	26	infrastructure	infrastructure	NOUN
fbem-16427	101	27	support	support	NOUN
fbem-16427	101	28	.	.	PUNCT
fbem-16427	102	1	secondly	secondly	ADV
fbem-16427	102	2	,	,	PUNCT
fbem-16427	102	3	in	in	ADP
fbem-16427	102	4	the	the	DET
fbem-16427	102	5	context	context	NOUN
fbem-16427	102	6	of	of	ADP
fbem-16427	102	7	the	the	DET
fbem-16427	102	8	digital	digital	ADJ
fbem-16427	102	9	economy	economy	NOUN
fbem-16427	102	10	,	,	PUNCT
fbem-16427	102	11	the	the	DET
fbem-16427	102	12	government	government	NOUN
fbem-16427	102	13	needs	need	VERB
fbem-16427	102	14	to	to	PART
fbem-16427	102	15	strengthen	strengthen	VERB
fbem-16427	102	16	the	the	DET
fbem-16427	102	17	intellectual	intellectual	ADJ
fbem-16427	102	18	property	property	NOUN
fbem-16427	102	19	protection	protection	NOUN
fbem-16427	102	20	of	of	ADP
fbem-16427	102	21	data	datum	NOUN
fbem-16427	102	22	assets	asset	NOUN
fbem-16427	102	23	to	to	PART
fbem-16427	102	24	ensure	ensure	VERB
fbem-16427	102	25	effective	effective	ADJ
fbem-16427	102	26	protection	protection	NOUN
fbem-16427	102	27	of	of	ADP
fbem-16427	102	28	innovation	innovation	NOUN
fbem-16427	102	29	and	and	CCONJ
fbem-16427	102	30	data	datum	NOUN
fbem-16427	102	31	security	security	NOUN
fbem-16427	102	32	for	for	ADP
fbem-16427	102	33	enterprises	enterprise	NOUN
fbem-16427	102	34	in	in	ADP
fbem-16427	102	35	the	the	DET
fbem-16427	102	36	process	process	NOUN
fbem-16427	102	37	of	of	ADP
fbem-16427	102	38	digital	digital	ADJ
fbem-16427	102	39	transformation	transformation	NOUN
fbem-16427	102	40	.	.	PUNCT
fbem-16427	103	1	secondly	secondly	ADV
fbem-16427	103	2	,	,	PUNCT
fbem-16427	103	3	digital	digital	ADJ
fbem-16427	103	4	transformation	transformation	NOUN
fbem-16427	103	5	is	be	AUX
fbem-16427	103	6	increasingly	increasingly	ADV
fbem-16427	103	7	becoming	become	VERB
fbem-16427	103	8	a	a	DET
fbem-16427	103	9	key	key	ADJ
fbem-16427	103	10	driving	driving	NOUN
fbem-16427	103	11	force	force	NOUN
fbem-16427	103	12	for	for	ADP
fbem-16427	103	13	enterprises	enterprise	NOUN
fbem-16427	103	14	to	to	PART
fbem-16427	103	15	comprehensively	comprehensively	ADV
fbem-16427	103	16	improve	improve	VERB
fbem-16427	103	17	production	production	NOUN
fbem-16427	103	18	efficiency	efficiency	NOUN
fbem-16427	103	19	and	and	CCONJ
fbem-16427	103	20	promote	promote	VERB
fbem-16427	103	21	high	high	ADJ
fbem-16427	103	22	-	-	PUNCT
fbem-16427	103	23	quality	quality	NOUN
fbem-16427	103	24	development	development	NOUN
fbem-16427	103	25	.	.	PUNCT
fbem-16427	104	1	in	in	ADP
fbem-16427	104	2	this	this	DET
fbem-16427	104	3	process	process	NOUN
fbem-16427	104	4	,	,	PUNCT
fbem-16427	104	5	enterprises	enterprise	NOUN
fbem-16427	104	6	need	need	VERB
fbem-16427	104	7	to	to	PART
fbem-16427	104	8	make	make	VERB
fbem-16427	104	9	significant	significant	ADJ
fbem-16427	104	10	investments	investment	NOUN
fbem-16427	104	11	in	in	ADP
fbem-16427	104	12	intelligent	intelligent	ADJ
fbem-16427	104	13	manufacturing	manufacturing	NOUN
fbem-16427	104	14	and	and	CCONJ
fbem-16427	104	15	digital	digital	ADJ
fbem-16427	104	16	management	management	NOUN
fbem-16427	104	17	,	,	PUNCT
fbem-16427	104	18	such	such	ADJ
fbem-16427	104	19	as	as	ADP
fbem-16427	104	20	establishing	establish	VERB
fbem-16427	104	21	smart	smart	ADJ
fbem-16427	104	22	factories	factory	NOUN
fbem-16427	104	23	and	and	CCONJ
fbem-16427	104	24	digital	digital	ADJ
fbem-16427	104	25	workflows	workflow	NOUN
fbem-16427	104	26	.	.	PUNCT
fbem-16427	105	1	at	at	ADP
fbem-16427	105	2	the	the	DET
fbem-16427	105	3	same	same	ADJ
fbem-16427	105	4	time	time	NOUN
fbem-16427	105	5	,	,	PUNCT
fbem-16427	105	6	they	they	PRON
fbem-16427	105	7	should	should	AUX
fbem-16427	105	8	also	also	ADV
fbem-16427	105	9	increase	increase	VERB
fbem-16427	105	10	research	research	NOUN
fbem-16427	105	11	and	and	CCONJ
fbem-16427	105	12	development	development	NOUN
fbem-16427	105	13	expenses	expense	NOUN
fbem-16427	105	14	and	and	CCONJ
fbem-16427	105	15	comprehensively	comprehensively	ADV
fbem-16427	105	16	improve	improve	VERB
fbem-16427	105	17	the	the	DET
fbem-16427	105	18	intelligence	intelligence	NOUN
fbem-16427	105	19	level	level	NOUN
fbem-16427	105	20	of	of	ADP
fbem-16427	105	21	traditional	traditional	ADJ
fbem-16427	105	22	business	business	NOUN
fbem-16427	105	23	chains	chain	NOUN
fbem-16427	105	24	.	.	PUNCT
fbem-16427	106	1	thirdly	thirdly	ADV
fbem-16427	106	2	,	,	PUNCT
fbem-16427	106	3	from	from	ADP
fbem-16427	106	4	the	the	DET
fbem-16427	106	5	perspective	perspective	NOUN
fbem-16427	106	6	of	of	ADP
fbem-16427	106	7	enterprises	enterprise	NOUN
fbem-16427	106	8	,	,	PUNCT
fbem-16427	106	9	incorporating	incorporate	VERB
fbem-16427	106	10	esg	esg	NOUN
fbem-16427	106	11	into	into	ADP
fbem-16427	106	12	their	their	PRON
fbem-16427	106	13	strategic	strategic	ADJ
fbem-16427	106	14	planning	planning	NOUN
fbem-16427	106	15	is	be	AUX
fbem-16427	106	16	crucial	crucial	ADJ
fbem-16427	106	17	.	.	PUNCT
fbem-16427	107	1	enterprises	enterprise	NOUN
fbem-16427	107	2	should	should	AUX
fbem-16427	107	3	integrate	integrate	VERB
fbem-16427	107	4	environmental	environmental	ADJ
fbem-16427	107	5	friendliness	friendliness	ADJ
fbem-16427	107	6	and	and	CCONJ
fbem-16427	107	7	social	social	ADJ
fbem-16427	107	8	responsibility	responsibility	NOUN
fbem-16427	107	9	into	into	ADP
fbem-16427	107	10	corporate	corporate	ADJ
fbem-16427	107	11	governance	governance	NOUN
fbem-16427	107	12	,	,	PUNCT
fbem-16427	107	13	while	while	SCONJ
fbem-16427	107	14	considering	consider	VERB
fbem-16427	107	15	market	market	NOUN
fbem-16427	107	16	factors	factor	NOUN
fbem-16427	107	17	,	,	PUNCT
fbem-16427	107	18	and	and	CCONJ
fbem-16427	107	19	establish	establish	VERB
fbem-16427	107	20	a	a	DET
fbem-16427	107	21	positive	positive	ADJ
fbem-16427	107	22	corporate	corporate	ADJ
fbem-16427	107	23	image	image	NOUN
fbem-16427	107	24	with	with	ADP
fbem-16427	107	25	good	good	ADJ
fbem-16427	107	26	esg	esg	PROPN
fbem-16427	107	27	performance	performance	NOUN
fbem-16427	107	28	.	.	PUNCT
fbem-16427	108	1	this	this	PRON
fbem-16427	108	2	not	not	PART
fbem-16427	108	3	only	only	ADV
fbem-16427	108	4	alleviates	alleviate	VERB
fbem-16427	108	5	financing	financing	NOUN
fbem-16427	108	6	constraints	constraint	NOUN
fbem-16427	108	7	,	,	PUNCT
fbem-16427	108	8	but	but	CCONJ
fbem-16427	108	9	also	also	ADV
fbem-16427	108	10	brings	bring	VERB
fbem-16427	108	11	more	more	ADJ
fbem-16427	108	12	funds	fund	NOUN
fbem-16427	108	13	for	for	ADP
fbem-16427	108	14	technological	technological	ADJ
fbem-16427	108	15	innovation	innovation	NOUN
fbem-16427	108	16	and	and	CCONJ
fbem-16427	108	17	production	production	NOUN
fbem-16427	108	18	efficiency	efficiency	NOUN
fbem-16427	108	19	improvement	improvement	NOUN
fbem-16427	108	20	,	,	PUNCT
fbem-16427	108	21	ultimately	ultimately	ADV
fbem-16427	108	22	achieving	achieve	VERB
fbem-16427	108	23	comprehensive	comprehensive	ADJ
fbem-16427	108	24	efficiency	efficiency	NOUN
fbem-16427	108	25	growth	growth	NOUN
fbem-16427	108	26	and	and	CCONJ
fbem-16427	108	27	high	high	ADJ
fbem-16427	108	28	-	-	PUNCT
fbem-16427	108	29	quality	quality	NOUN
fbem-16427	108	30	development	development	NOUN
fbem-16427	108	31	of	of	ADP
fbem-16427	108	32	the	the	DET
fbem-16427	108	33	enterprise	enterprise	NOUN
fbem-16427	108	34	.	.	PUNCT
fbem-16427	109	1	references	reference	NOUN
fbem-16427	109	2	[	[	X
fbem-16427	109	3	1	1	NUM
fbem-16427	109	4	]	]	X
fbem-16427	109	5	d.	d.	PROPN
fbem-16427	109	6	tian	tian	PROPN
fbem-16427	109	7	,	,	PUNCT
fbem-16427	109	8	b.	b.	PROPN
fbem-16427	109	9	ding	ding	PROPN
fbem-16427	109	10	:	:	PUNCT
fbem-16427	109	11	measurement	measurement	NOUN
fbem-16427	109	12	and	and	CCONJ
fbem-16427	109	13	mechanism	mechanism	NOUN
fbem-16427	109	14	of	of	ADP
fbem-16427	109	15	high	high	ADJ
fbem-16427	109	16	quality	quality	NOUN
fbem-16427	109	17	development	development	NOUN
fbem-16427	109	18	of	of	ADP
fbem-16427	109	19	enterprises	enterprise	NOUN
fbem-16427	109	20	:	:	PUNCT
fbem-16427	109	21	from	from	ADP
fbem-16427	109	22	the	the	DET
fbem-16427	109	23	perspective	perspective	NOUN
fbem-16427	109	24	of	of	ADP
fbem-16427	109	25	organizational	organizational	ADJ
fbem-16427	109	26	resilience	resilience	NOUN
fbem-16427	109	27	,	,	PUNCT
fbem-16427	109	28	china	china	PROPN
fbem-16427	109	29	soft	soft	ADJ
fbem-16427	109	30	science	science	NOUN
fbem-16427	109	31	,	,	PUNCT
fbem-16427	109	32	vol	vol	NOUN
fbem-16427	109	33	.	.	PROPN
fbem-16427	109	34	37	37	NUM
fbem-16427	109	35	(	(	PUNCT
fbem-16427	109	36	2023)no.7	2023)no.7	NUM
fbem-16427	109	37	,	,	PUNCT
fbem-16427	109	38	p.154	p.154	NOUN
fbem-16427	109	39	-	-	SYM
fbem-16427	109	40	170	170	NUM
fbem-16427	109	41	.	.	PUNCT
fbem-16427	110	1	(	(	PUNCT
fbem-16427	110	2	in	in	ADP
fbem-16427	110	3	chinese	chinese	PROPN
fbem-16427	110	4	)	)	PUNCT
fbem-16427	111	1	[	[	X
fbem-16427	111	2	2	2	X
fbem-16427	111	3	]	]	PUNCT
fbem-16427	111	4	f.	f.	PROPN
fbem-16427	111	5	wu	wu	PROPN
fbem-16427	111	6	,	,	PUNCT
fbem-16427	111	7	h.z	h.z	PROPN
fbem-16427	111	8	.	.	PROPN
fbem-16427	111	9	hu	hu	PROPN
fbem-16427	111	10	and	and	CCONJ
fbem-16427	111	11	h.y	h.y	PROPN
fbem-16427	111	12	.	.	PROPN
fbem-16427	111	13	lin	lin	PROPN
fbem-16427	111	14	:	:	PUNCT
fbem-16427	111	15	digital	digital	ADJ
fbem-16427	111	16	transformation	transformation	NOUN
fbem-16427	111	17	of	of	ADP
fbem-16427	111	18	enterprises	enterprise	NOUN
fbem-16427	111	19	and	and	CCONJ
fbem-16427	111	20	capital	capital	NOUN
fbem-16427	111	21	market	market	NOUN
fbem-16427	111	22	performance	performance	NOUN
fbem-16427	111	23	:	:	PUNCT
fbem-16427	111	24	empirical	empirical	ADJ
fbem-16427	111	25	evidence	evidence	NOUN
fbem-16427	111	26	from	from	ADP
fbem-16427	111	27	stock	stock	NOUN
fbem-16427	111	28	liquidity	liquidity	NOUN
fbem-16427	111	29	,	,	PUNCT
fbem-16427	111	30	management	management	NOUN
fbem-16427	111	31	world	world	NOUN
fbem-16427	111	32	,	,	PUNCT
fbem-16427	111	33	vol	vol	NOUN
fbem-16427	111	34	.	.	PROPN
fbem-16427	111	35	37	37	NUM
fbem-16427	111	36	(	(	PUNCT
fbem-16427	111	37	2021)no.7	2021)no.7	NUM
fbem-16427	111	38	,	,	PUNCT
fbem-16427	111	39	p.130	p.130	NOUN
fbem-16427	111	40	-	-	PUNCT
fbem-16427	111	41	144	144	NUM
fbem-16427	111	42	.	.	PUNCT
fbem-16427	112	1	[	[	X
fbem-16427	112	2	3	3	X
fbem-16427	112	3	]	]	X
fbem-16427	112	4	c.	c.	PROPN
fbem-16427	112	5	yuan	yuan	PROPN
fbem-16427	112	6	,	,	PUNCT
fbem-16427	112	7	t.s	t.s	PROPN
fbem-16427	112	8	.	.	PROPN
fbem-16427	112	9	xiao	xiao	PROPN
fbem-16427	112	10	and	and	CCONJ
fbem-16427	112	11	c.x	c.x	PROPN
fbem-16427	112	12	.	.	PROPN
fbem-16427	112	13	geng	geng	PROPN
fbem-16427	112	14	:	:	PUNCT
fbem-16427	112	15	digital	digital	ADJ
fbem-16427	112	16	transformation	transformation	NOUN
fbem-16427	112	17	and	and	CCONJ
fbem-16427	112	18	enterprise	enterprise	NOUN
fbem-16427	112	19	division	division	NOUN
fbem-16427	112	20	of	of	ADP
fbem-16427	112	21	labor	labor	NOUN
fbem-16427	112	22	:	:	PUNCT
fbem-16427	112	23	specialization	specialization	NOUN
fbem-16427	112	24	or	or	CCONJ
fbem-16427	112	25	vertical	vertical	ADJ
fbem-16427	112	26	integration	integration	NOUN
fbem-16427	112	27	,	,	PUNCT
fbem-16427	112	28	china	china	PROPN
fbem-16427	112	29	industrial	industrial	ADJ
fbem-16427	112	30	economy	economy	NOUN
fbem-16427	112	31	,	,	PUNCT
fbem-16427	112	32	(	(	PUNCT
fbem-16427	112	33	2021)no.9	2021)no.9	NUM
fbem-16427	112	34	,	,	PUNCT
fbem-16427	112	35	p.137	p.137	NOUN
fbem-16427	112	36	-	-	SYM
fbem-16427	112	37	155	155	NUM
fbem-16427	112	38	.	.	PUNCT
fbem-16427	113	1	(	(	PUNCT
fbem-16427	113	2	in	in	ADP
fbem-16427	113	3	chinese	chinese	ADJ
fbem-16427	113	4	)	)	PUNCT