id	sid	tid	token	lemma	pos
fbem-23495	1	1	frontiers	frontier	NOUN
fbem-23495	1	2	in	in	ADP
fbem-23495	1	3	business	business	NOUN
fbem-23495	1	4	,	,	PUNCT
fbem-23495	1	5	economics	economic	NOUN
fbem-23495	1	6	and	and	CCONJ
fbem-23495	1	7	management	management	NOUN
fbem-23495	1	8	issn	issn	PROPN
fbem-23495	1	9	:	:	PUNCT
fbem-23495	1	10	2766	2766	NUM
fbem-23495	1	11	-	-	PUNCT
fbem-23495	1	12	824x	824x	NUM
fbem-23495	1	13	|	|	ADJ
fbem-23495	1	14	vol	vol	NOUN
fbem-23495	1	15	.	.	PROPN
fbem-23495	1	16	15	15	NUM
fbem-23495	1	17	,	,	PUNCT
fbem-23495	1	18	no	no	INTJ
fbem-23495	1	19	.	.	NOUN
fbem-23495	1	20	3	3	NUM
fbem-23495	1	21	,	,	PUNCT
fbem-23495	1	22	2024	2024	NUM
fbem-23495	1	23	197	197	NUM
fbem-23495	1	24	impact	impact	NOUN
fbem-23495	1	25	of	of	ADP
fbem-23495	1	26	tax	tax	NOUN
fbem-23495	1	27	incentive	incentive	NOUN
fbem-23495	1	28	policies	policy	NOUN
fbem-23495	1	29	on	on	ADP
fbem-23495	1	30	corporate	corporate	ADJ
fbem-23495	1	31	financial	financial	ADJ
fbem-23495	1	32	performance	performance	NOUN
fbem-23495	1	33	:	:	PUNCT
fbem-23495	1	34	based	base	VERB
fbem-23495	1	35	on	on	ADP
fbem-23495	1	36	data	datum	NOUN
fbem-23495	1	37	from	from	ADP
fbem-23495	1	38	listed	list	VERB
fbem-23495	1	39	companies	company	NOUN
fbem-23495	1	40	from	from	ADP
fbem-23495	1	41	2012	2012	NUM
fbem-23495	1	42	-	-	SYM
fbem-23495	1	43	2016	2016	NUM
fbem-23495	1	44	guan	guan	PROPN
fbem-23495	1	45	wang	wang	PROPN
fbem-23495	1	46	*	*	PUNCT
fbem-23495	1	47	school	school	NOUN
fbem-23495	1	48	of	of	ADP
fbem-23495	1	49	international	international	ADJ
fbem-23495	1	50	finance	finance	NOUN
fbem-23495	1	51	and	and	CCONJ
fbem-23495	1	52	trade	trade	NOUN
fbem-23495	1	53	,	,	PUNCT
fbem-23495	1	54	shanghai	shanghai	PROPN
fbem-23495	1	55	international	international	PROPN
fbem-23495	1	56	studies	studies	PROPN
fbem-23495	1	57	university	university	PROPN
fbem-23495	1	58	,	,	PUNCT
fbem-23495	1	59	shanghai	shanghai	PROPN
fbem-23495	1	60	,	,	PUNCT
fbem-23495	1	61	china	china	PROPN
fbem-23495	1	62	*	*	PUNCT
fbem-23495	1	63	corresponding	correspond	VERB
fbem-23495	1	64	author	author	NOUN
fbem-23495	1	65	:	:	PUNCT
fbem-23495	1	66	guan	guan	PROPN
fbem-23495	1	67	wang	wang	PROPN
fbem-23495	1	68	(	(	PUNCT
fbem-23495	1	69	email	email	NOUN
fbem-23495	1	70	:	:	PUNCT
fbem-23495	1	71	567559@163.com	567559@163.com	X
fbem-23495	1	72	)	)	PUNCT
fbem-23495	1	73	abstract	abstract	NOUN
fbem-23495	1	74	:	:	PUNCT
fbem-23495	1	75	in	in	ADP
fbem-23495	1	76	recent	recent	ADJ
fbem-23495	1	77	years	year	NOUN
fbem-23495	1	78	,	,	PUNCT
fbem-23495	1	79	to	to	PART
fbem-23495	1	80	promote	promote	VERB
fbem-23495	1	81	the	the	DET
fbem-23495	1	82	transformation	transformation	NOUN
fbem-23495	1	83	and	and	CCONJ
fbem-23495	1	84	upgrading	upgrading	NOUN
fbem-23495	1	85	of	of	ADP
fbem-23495	1	86	enterprises	enterprise	NOUN
fbem-23495	1	87	and	and	CCONJ
fbem-23495	1	88	achieve	achieve	VERB
fbem-23495	1	89	high	high	ADJ
fbem-23495	1	90	-	-	PUNCT
fbem-23495	1	91	quality	quality	NOUN
fbem-23495	1	92	economic	economic	ADJ
fbem-23495	1	93	development	development	NOUN
fbem-23495	1	94	,	,	PUNCT
fbem-23495	1	95	china	china	PROPN
fbem-23495	1	96	has	have	AUX
fbem-23495	1	97	continuously	continuously	ADV
fbem-23495	1	98	implemented	implement	VERB
fbem-23495	1	99	tax	tax	NOUN
fbem-23495	1	100	incentive	incentive	NOUN
fbem-23495	1	101	policies	policy	NOUN
fbem-23495	1	102	,	,	PUNCT
fbem-23495	1	103	which	which	PRON
fbem-23495	1	104	play	play	VERB
fbem-23495	1	105	an	an	DET
fbem-23495	1	106	important	important	ADJ
fbem-23495	1	107	role	role	NOUN
fbem-23495	1	108	in	in	ADP
fbem-23495	1	109	stimulating	stimulate	VERB
fbem-23495	1	110	enterprises	enterprise	NOUN
fbem-23495	1	111	to	to	PART
fbem-23495	1	112	improve	improve	VERB
fbem-23495	1	113	management	management	NOUN
fbem-23495	1	114	capabilities	capability	NOUN
fbem-23495	1	115	and	and	CCONJ
fbem-23495	1	116	financial	financial	ADJ
fbem-23495	1	117	performance	performance	NOUN
fbem-23495	1	118	.	.	PUNCT
fbem-23495	2	1	this	this	DET
fbem-23495	2	2	paper	paper	NOUN
fbem-23495	2	3	studies	study	NOUN
fbem-23495	2	4	whether	whether	SCONJ
fbem-23495	2	5	tax	tax	NOUN
fbem-23495	2	6	incentive	incentive	NOUN
fbem-23495	2	7	policies	policy	NOUN
fbem-23495	2	8	affect	affect	VERB
fbem-23495	2	9	the	the	DET
fbem-23495	2	10	financial	financial	ADJ
fbem-23495	2	11	performance	performance	NOUN
fbem-23495	2	12	of	of	ADP
fbem-23495	2	13	enterprises	enterprise	NOUN
fbem-23495	2	14	.	.	PUNCT
fbem-23495	3	1	based	base	VERB
fbem-23495	3	2	on	on	ADP
fbem-23495	3	3	previous	previous	ADJ
fbem-23495	3	4	literature	literature	NOUN
fbem-23495	3	5	,	,	PUNCT
fbem-23495	3	6	we	we	PRON
fbem-23495	3	7	select	select	VERB
fbem-23495	3	8	the	the	DET
fbem-23495	3	9	financial	financial	ADJ
fbem-23495	3	10	data	datum	NOUN
fbem-23495	3	11	of	of	ADP
fbem-23495	3	12	a	a	DET
fbem-23495	3	13	-	-	PUNCT
fbem-23495	3	14	share	share	NOUN
fbem-23495	3	15	listed	list	VERB
fbem-23495	3	16	companies	company	NOUN
fbem-23495	3	17	in	in	ADP
fbem-23495	3	18	the	the	DET
fbem-23495	3	19	cathay	cathay	PROPN
fbem-23495	3	20	database	database	NOUN
fbem-23495	3	21	from	from	ADP
fbem-23495	3	22	2012	2012	NUM
fbem-23495	3	23	to	to	ADP
fbem-23495	3	24	2016	2016	NUM
fbem-23495	3	25	as	as	ADP
fbem-23495	3	26	samples	sample	NOUN
fbem-23495	3	27	,	,	PUNCT
fbem-23495	3	28	considering	consider	VERB
fbem-23495	3	29	companies	company	NOUN
fbem-23495	3	30	with	with	ADP
fbem-23495	3	31	year	year	NOUN
fbem-23495	3	32	-	-	PUNCT
fbem-23495	3	33	end	end	NOUN
fbem-23495	3	34	tax	tax	NOUN
fbem-23495	3	35	rates	rate	NOUN
fbem-23495	3	36	below	below	ADP
fbem-23495	3	37	25	25	NUM
fbem-23495	3	38	%	%	NOUN
fbem-23495	3	39	as	as	ADP
fbem-23495	3	40	enjoying	enjoy	VERB
fbem-23495	3	41	tax	tax	NOUN
fbem-23495	3	42	incentives	incentive	NOUN
fbem-23495	3	43	.	.	PUNCT
fbem-23495	4	1	using	use	VERB
fbem-23495	4	2	the	the	DET
fbem-23495	4	3	model	model	NOUN
fbem-23495	4	4	constructed	construct	VERB
fbem-23495	4	5	in	in	ADP
fbem-23495	4	6	this	this	DET
fbem-23495	4	7	paper	paper	NOUN
fbem-23495	4	8	for	for	ADP
fbem-23495	4	9	regression	regression	NOUN
fbem-23495	4	10	analysis	analysis	NOUN
fbem-23495	4	11	,	,	PUNCT
fbem-23495	4	12	it	it	PRON
fbem-23495	4	13	is	be	AUX
fbem-23495	4	14	found	find	VERB
fbem-23495	4	15	that	that	SCONJ
fbem-23495	4	16	tax	tax	NOUN
fbem-23495	4	17	incentive	incentive	NOUN
fbem-23495	4	18	policies	policy	NOUN
fbem-23495	4	19	indeed	indeed	ADV
fbem-23495	4	20	improve	improve	VERB
fbem-23495	4	21	corporate	corporate	ADJ
fbem-23495	4	22	financial	financial	ADJ
fbem-23495	4	23	performance	performance	NOUN
fbem-23495	4	24	.	.	PUNCT
fbem-23495	5	1	due	due	ADP
fbem-23495	5	2	to	to	ADP
fbem-23495	5	3	industry	industry	NOUN
fbem-23495	5	4	characteristics	characteristic	NOUN
fbem-23495	5	5	and	and	CCONJ
fbem-23495	5	6	development	development	NOUN
fbem-23495	5	7	differences	difference	NOUN
fbem-23495	5	8	,	,	PUNCT
fbem-23495	5	9	the	the	DET
fbem-23495	5	10	promotion	promotion	NOUN
fbem-23495	5	11	effect	effect	NOUN
fbem-23495	5	12	of	of	ADP
fbem-23495	5	13	tax	tax	NOUN
fbem-23495	5	14	incentive	incentive	NOUN
fbem-23495	5	15	policies	policy	NOUN
fbem-23495	5	16	on	on	ADP
fbem-23495	5	17	corporate	corporate	ADJ
fbem-23495	5	18	financial	financial	ADJ
fbem-23495	5	19	performance	performance	NOUN
fbem-23495	5	20	varies	vary	VERB
fbem-23495	5	21	across	across	ADP
fbem-23495	5	22	industries	industry	NOUN
fbem-23495	5	23	,	,	PUNCT
fbem-23495	5	24	thereby	thereby	ADV
fbem-23495	5	25	providing	provide	VERB
fbem-23495	5	26	policy	policy	NOUN
fbem-23495	5	27	suggestions	suggestion	NOUN
fbem-23495	5	28	for	for	ADP
fbem-23495	5	29	optimizing	optimize	VERB
fbem-23495	5	30	china	china	PROPN
fbem-23495	5	31	's	's	PART
fbem-23495	5	32	tax	tax	NOUN
fbem-23495	5	33	incentive	incentive	NOUN
fbem-23495	5	34	policies	policy	NOUN
fbem-23495	5	35	and	and	CCONJ
fbem-23495	5	36	promoting	promote	VERB
fbem-23495	5	37	corporate	corporate	ADJ
fbem-23495	5	38	performance	performance	NOUN
fbem-23495	5	39	.	.	PUNCT
fbem-23495	6	1	keywords	keyword	NOUN
fbem-23495	6	2	:	:	PUNCT
fbem-23495	6	3	tax	tax	NOUN
fbem-23495	6	4	incentives	incentive	NOUN
fbem-23495	6	5	,	,	PUNCT
fbem-23495	6	6	financial	financial	ADJ
fbem-23495	6	7	performance	performance	NOUN
fbem-23495	6	8	,	,	PUNCT
fbem-23495	6	9	industry	industry	NOUN
fbem-23495	6	10	characteristics	characteristic	NOUN
fbem-23495	6	11	,	,	PUNCT
fbem-23495	6	12	ownership	ownership	NOUN
fbem-23495	6	13	concentration	concentration	NOUN
fbem-23495	6	14	.	.	PUNCT
fbem-23495	7	1	1	1	X
fbem-23495	7	2	.	.	X
fbem-23495	7	3	introduction	introduction	NOUN
fbem-23495	7	4	after	after	ADP
fbem-23495	7	5	the	the	DET
fbem-23495	7	6	19th	19th	ADJ
fbem-23495	7	7	national	national	ADJ
fbem-23495	7	8	congress	congress	PROPN
fbem-23495	7	9	of	of	ADP
fbem-23495	7	10	the	the	DET
fbem-23495	7	11	communist	communist	PROPN
fbem-23495	7	12	party	party	PROPN
fbem-23495	7	13	of	of	ADP
fbem-23495	7	14	china	china	PROPN
fbem-23495	7	15	outlined	outline	VERB
fbem-23495	7	16	the	the	DET
fbem-23495	7	17	14th	14th	ADJ
fbem-23495	7	18	five	five	NUM
fbem-23495	7	19	-	-	PUNCT
fbem-23495	7	20	year	year	NOUN
fbem-23495	7	21	plan	plan	NOUN
fbem-23495	7	22	and	and	CCONJ
fbem-23495	7	23	the	the	DET
fbem-23495	7	24	long	long	ADJ
fbem-23495	7	25	-	-	PUNCT
fbem-23495	7	26	term	term	NOUN
fbem-23495	7	27	goals	goal	NOUN
fbem-23495	7	28	for	for	ADP
fbem-23495	7	29	2035	2035	NUM
fbem-23495	7	30	,	,	PUNCT
fbem-23495	7	31	the	the	DET
fbem-23495	7	32	strategic	strategic	ADJ
fbem-23495	7	33	focus	focus	NOUN
fbem-23495	7	34	of	of	ADP
fbem-23495	7	35	china	china	PROPN
fbem-23495	7	36	's	's	PART
fbem-23495	7	37	economic	economic	ADJ
fbem-23495	7	38	development	development	NOUN
fbem-23495	7	39	shifted	shift	VERB
fbem-23495	7	40	towards	towards	ADP
fbem-23495	7	41	building	build	VERB
fbem-23495	7	42	a	a	DET
fbem-23495	7	43	new	new	ADJ
fbem-23495	7	44	development	development	NOUN
fbem-23495	7	45	pattern	pattern	NOUN
fbem-23495	7	46	centered	center	VERB
fbem-23495	7	47	on	on	ADP
fbem-23495	7	48	domestic	domestic	ADJ
fbem-23495	7	49	circulation	circulation	NOUN
fbem-23495	7	50	while	while	SCONJ
fbem-23495	7	51	promoting	promote	VERB
fbem-23495	7	52	mutual	mutual	ADJ
fbem-23495	7	53	reinforcement	reinforcement	NOUN
fbem-23495	7	54	between	between	ADP
fbem-23495	7	55	domestic	domestic	ADJ
fbem-23495	7	56	and	and	CCONJ
fbem-23495	7	57	international	international	ADJ
fbem-23495	7	58	circulation	circulation	NOUN
fbem-23495	7	59	.	.	PUNCT
fbem-23495	8	1	this	this	DET
fbem-23495	8	2	strategy	strategy	NOUN
fbem-23495	8	3	aims	aim	VERB
fbem-23495	8	4	to	to	PART
fbem-23495	8	5	address	address	VERB
fbem-23495	8	6	the	the	DET
fbem-23495	8	7	complex	complex	ADJ
fbem-23495	8	8	and	and	CCONJ
fbem-23495	8	9	ever	ever	ADV
fbem-23495	8	10	-	-	PUNCT
fbem-23495	8	11	changing	change	VERB
fbem-23495	8	12	external	external	ADJ
fbem-23495	8	13	environment	environment	NOUN
fbem-23495	8	14	brought	bring	VERB
fbem-23495	8	15	about	about	ADP
fbem-23495	8	16	by	by	ADP
fbem-23495	8	17	economic	economic	ADJ
fbem-23495	8	18	globalization	globalization	NOUN
fbem-23495	8	19	,	,	PUNCT
fbem-23495	8	20	particularly	particularly	ADV
fbem-23495	8	21	the	the	DET
fbem-23495	8	22	challenges	challenge	NOUN
fbem-23495	8	23	and	and	CCONJ
fbem-23495	8	24	obstacles	obstacle	NOUN
fbem-23495	8	25	posed	pose	VERB
fbem-23495	8	26	by	by	ADP
fbem-23495	8	27	western	western	ADJ
fbem-23495	8	28	countries	country	NOUN
fbem-23495	8	29	led	lead	VERB
fbem-23495	8	30	by	by	ADP
fbem-23495	8	31	the	the	DET
fbem-23495	8	32	united	united	PROPN
fbem-23495	8	33	states	states	PROPN
fbem-23495	8	34	to	to	ADP
fbem-23495	8	35	chinese	chinese	ADJ
fbem-23495	8	36	enterprises	enterprise	NOUN
fbem-23495	8	37	.	.	PUNCT
fbem-23495	9	1	in	in	ADP
fbem-23495	9	2	this	this	DET
fbem-23495	9	3	context	context	NOUN
fbem-23495	9	4	,	,	PUNCT
fbem-23495	9	5	how	how	SCONJ
fbem-23495	9	6	chinese	chinese	ADJ
fbem-23495	9	7	enterprises	enterprise	NOUN
fbem-23495	9	8	can	can	AUX
fbem-23495	9	9	maintain	maintain	VERB
fbem-23495	9	10	a	a	DET
fbem-23495	9	11	steady	steady	ADJ
fbem-23495	9	12	pace	pace	NOUN
fbem-23495	9	13	of	of	ADP
fbem-23495	9	14	development	development	NOUN
fbem-23495	9	15	in	in	ADP
fbem-23495	9	16	fierce	fierce	ADJ
fbem-23495	9	17	market	market	NOUN
fbem-23495	9	18	competition	competition	NOUN
fbem-23495	9	19	and	and	CCONJ
fbem-23495	9	20	enhance	enhance	VERB
fbem-23495	9	21	their	their	PRON
fbem-23495	9	22	financial	financial	ADJ
fbem-23495	9	23	performance	performance	NOUN
fbem-23495	9	24	in	in	ADP
fbem-23495	9	25	the	the	DET
fbem-23495	9	26	constantly	constantly	ADV
fbem-23495	9	27	evolving	evolve	VERB
fbem-23495	9	28	global	global	ADJ
fbem-23495	9	29	economic	economic	ADJ
fbem-23495	9	30	environment	environment	NOUN
fbem-23495	9	31	has	have	AUX
fbem-23495	9	32	become	become	VERB
fbem-23495	9	33	a	a	DET
fbem-23495	9	34	pressing	press	VERB
fbem-23495	9	35	issue	issue	NOUN
fbem-23495	9	36	.	.	PUNCT
fbem-23495	10	1	as	as	ADP
fbem-23495	10	2	the	the	DET
fbem-23495	10	3	main	main	ADJ
fbem-23495	10	4	actors	actor	NOUN
fbem-23495	10	5	in	in	ADP
fbem-23495	10	6	the	the	DET
fbem-23495	10	7	market	market	NOUN
fbem-23495	10	8	economy	economy	NOUN
fbem-23495	10	9	,	,	PUNCT
fbem-23495	10	10	the	the	DET
fbem-23495	10	11	improvement	improvement	NOUN
fbem-23495	10	12	of	of	ADP
fbem-23495	10	13	corporate	corporate	ADJ
fbem-23495	10	14	financial	financial	ADJ
fbem-23495	10	15	performance	performance	NOUN
fbem-23495	10	16	is	be	AUX
fbem-23495	10	17	not	not	PART
fbem-23495	10	18	only	only	ADV
fbem-23495	10	19	crucial	crucial	ADJ
fbem-23495	10	20	for	for	ADP
fbem-23495	10	21	the	the	DET
fbem-23495	10	22	survival	survival	NOUN
fbem-23495	10	23	and	and	CCONJ
fbem-23495	10	24	development	development	NOUN
fbem-23495	10	25	of	of	ADP
fbem-23495	10	26	the	the	DET
fbem-23495	10	27	enterprises	enterprise	NOUN
fbem-23495	10	28	themselves	themselves	PRON
fbem-23495	10	29	but	but	CCONJ
fbem-23495	10	30	also	also	ADV
fbem-23495	10	31	an	an	DET
fbem-23495	10	32	important	important	ADJ
fbem-23495	10	33	indicator	indicator	NOUN
fbem-23495	10	34	of	of	ADP
fbem-23495	10	35	the	the	DET
fbem-23495	10	36	strengthening	strengthening	NOUN
fbem-23495	10	37	of	of	ADP
fbem-23495	10	38	national	national	ADJ
fbem-23495	10	39	economic	economic	ADJ
fbem-23495	10	40	power	power	NOUN
fbem-23495	10	41	.	.	PUNCT
fbem-23495	11	1	taxation	taxation	NOUN
fbem-23495	11	2	,	,	PUNCT
fbem-23495	11	3	being	be	AUX
fbem-23495	11	4	a	a	DET
fbem-23495	11	5	significant	significant	ADJ
fbem-23495	11	6	cost	cost	NOUN
fbem-23495	11	7	in	in	ADP
fbem-23495	11	8	business	business	NOUN
fbem-23495	11	9	operations	operation	NOUN
fbem-23495	11	10	,	,	PUNCT
fbem-23495	11	11	directly	directly	ADV
fbem-23495	11	12	affects	affect	VERB
fbem-23495	11	13	a	a	DET
fbem-23495	11	14	company	company	NOUN
fbem-23495	11	15	's	's	PART
fbem-23495	11	16	cash	cash	NOUN
fbem-23495	11	17	flow	flow	NOUN
fbem-23495	11	18	and	and	CCONJ
fbem-23495	11	19	profitability	profitability	NOUN
fbem-23495	11	20	,	,	PUNCT
fbem-23495	11	21	which	which	PRON
fbem-23495	11	22	in	in	ADP
fbem-23495	11	23	turn	turn	NOUN
fbem-23495	11	24	impacts	impact	VERB
fbem-23495	11	25	investment	investment	NOUN
fbem-23495	11	26	decisions	decision	NOUN
fbem-23495	11	27	and	and	CCONJ
fbem-23495	11	28	long	long	ADJ
fbem-23495	11	29	-	-	PUNCT
fbem-23495	11	30	term	term	NOUN
fbem-23495	11	31	development	development	NOUN
fbem-23495	11	32	strategies	strategy	NOUN
fbem-23495	11	33	.	.	PUNCT
fbem-23495	12	1	therefore	therefore	ADV
fbem-23495	12	2	,	,	PUNCT
fbem-23495	12	3	the	the	DET
fbem-23495	12	4	optimization	optimization	NOUN
fbem-23495	12	5	and	and	CCONJ
fbem-23495	12	6	adjustment	adjustment	NOUN
fbem-23495	12	7	of	of	ADP
fbem-23495	12	8	tax	tax	NOUN
fbem-23495	12	9	policies	policy	NOUN
fbem-23495	12	10	are	be	AUX
fbem-23495	12	11	of	of	ADP
fbem-23495	12	12	great	great	ADJ
fbem-23495	12	13	significance	significance	NOUN
fbem-23495	12	14	for	for	ADP
fbem-23495	12	15	stimulating	stimulate	VERB
fbem-23495	12	16	corporate	corporate	ADJ
fbem-23495	12	17	vitality	vitality	NOUN
fbem-23495	12	18	and	and	CCONJ
fbem-23495	12	19	promoting	promote	VERB
fbem-23495	12	20	the	the	DET
fbem-23495	12	21	improvement	improvement	NOUN
fbem-23495	12	22	of	of	ADP
fbem-23495	12	23	corporate	corporate	ADJ
fbem-23495	12	24	financial	financial	ADJ
fbem-23495	12	25	performance	performance	NOUN
fbem-23495	12	26	.	.	PUNCT
fbem-23495	13	1	in	in	ADP
fbem-23495	13	2	recent	recent	ADJ
fbem-23495	13	3	years	year	NOUN
fbem-23495	13	4	,	,	PUNCT
fbem-23495	13	5	the	the	DET
fbem-23495	13	6	state	state	NOUN
fbem-23495	13	7	taxation	taxation	NOUN
fbem-23495	13	8	administration	administration	NOUN
fbem-23495	13	9	has	have	AUX
fbem-23495	13	10	actively	actively	ADV
fbem-23495	13	11	promoted	promote	VERB
fbem-23495	13	12	the	the	DET
fbem-23495	13	13	optimization	optimization	NOUN
fbem-23495	13	14	and	and	CCONJ
fbem-23495	13	15	improvement	improvement	NOUN
fbem-23495	13	16	of	of	ADP
fbem-23495	13	17	tax	tax	NOUN
fbem-23495	13	18	incentive	incentive	NOUN
fbem-23495	13	19	policies	policy	NOUN
fbem-23495	13	20	.	.	PUNCT
fbem-23495	14	1	measures	measure	NOUN
fbem-23495	14	2	such	such	ADJ
fbem-23495	14	3	as	as	ADP
fbem-23495	14	4	reducing	reduce	VERB
fbem-23495	14	5	tax	tax	NOUN
fbem-23495	14	6	rates	rate	NOUN
fbem-23495	14	7	for	for	ADP
fbem-23495	14	8	technologically	technologically	ADV
fbem-23495	14	9	advanced	advanced	ADJ
fbem-23495	14	10	manufacturing	manufacturing	NOUN
fbem-23495	14	11	industries	industry	NOUN
fbem-23495	14	12	,	,	PUNCT
fbem-23495	14	13	implementing	implement	VERB
fbem-23495	14	14	preferential	preferential	ADJ
fbem-23495	14	15	tax	tax	NOUN
fbem-23495	14	16	rates	rate	NOUN
fbem-23495	14	17	for	for	ADP
fbem-23495	14	18	agricultural	agricultural	ADJ
fbem-23495	14	19	products	product	NOUN
fbem-23495	14	20	,	,	PUNCT
fbem-23495	14	21	and	and	CCONJ
fbem-23495	14	22	exempting	exempt	VERB
fbem-23495	14	23	qualified	qualified	ADJ
fbem-23495	14	24	agricultural	agricultural	ADJ
fbem-23495	14	25	producers	producer	NOUN
fbem-23495	14	26	from	from	ADP
fbem-23495	14	27	valueadded	valueadded	ADJ
fbem-23495	14	28	tax	tax	NOUN
fbem-23495	14	29	have	have	AUX
fbem-23495	14	30	effectively	effectively	ADV
fbem-23495	14	31	reduced	reduce	VERB
fbem-23495	14	32	the	the	DET
fbem-23495	14	33	tax	tax	NOUN
fbem-23495	14	34	burden	burden	NOUN
fbem-23495	14	35	on	on	ADP
fbem-23495	14	36	enterprises	enterprise	NOUN
fbem-23495	14	37	,	,	PUNCT
fbem-23495	14	38	saving	save	VERB
fbem-23495	14	39	them	they	PRON
fbem-23495	14	40	significant	significant	ADJ
fbem-23495	14	41	operational	operational	ADJ
fbem-23495	14	42	costs	cost	NOUN
fbem-23495	14	43	.	.	PUNCT
fbem-23495	15	1	the	the	DET
fbem-23495	15	2	implementation	implementation	NOUN
fbem-23495	15	3	of	of	ADP
fbem-23495	15	4	these	these	DET
fbem-23495	15	5	tax	tax	NOUN
fbem-23495	15	6	incentive	incentive	NOUN
fbem-23495	15	7	policies	policy	NOUN
fbem-23495	15	8	has	have	AUX
fbem-23495	15	9	not	not	PART
fbem-23495	15	10	only	only	ADV
fbem-23495	15	11	directly	directly	ADV
fbem-23495	15	12	alleviated	alleviate	VERB
fbem-23495	15	13	the	the	DET
fbem-23495	15	14	economic	economic	ADJ
fbem-23495	15	15	pressure	pressure	NOUN
fbem-23495	15	16	on	on	ADP
fbem-23495	15	17	enterprises	enterprise	NOUN
fbem-23495	15	18	but	but	CCONJ
fbem-23495	15	19	also	also	ADV
fbem-23495	15	20	guided	guide	VERB
fbem-23495	15	21	more	more	ADV
fbem-23495	15	22	high	high	ADJ
fbem-23495	15	23	-	-	PUNCT
fbem-23495	15	24	quality	quality	NOUN
fbem-23495	15	25	resources	resource	NOUN
fbem-23495	15	26	to	to	PART
fbem-23495	15	27	flow	flow	VERB
fbem-23495	15	28	into	into	ADP
fbem-23495	15	29	highefficiency	highefficiency	NOUN
fbem-23495	15	30	industries	industry	NOUN
fbem-23495	15	31	by	by	ADP
fbem-23495	15	32	promoting	promote	VERB
fbem-23495	15	33	the	the	DET
fbem-23495	15	34	optimization	optimization	NOUN
fbem-23495	15	35	of	of	ADP
fbem-23495	15	36	production	production	NOUN
fbem-23495	15	37	activities	activity	NOUN
fbem-23495	15	38	and	and	CCONJ
fbem-23495	15	39	enhancing	enhance	VERB
fbem-23495	15	40	market	market	NOUN
fbem-23495	15	41	competitiveness	competitiveness	NOUN
fbem-23495	15	42	,	,	PUNCT
fbem-23495	15	43	thereby	thereby	ADV
fbem-23495	15	44	improving	improve	VERB
fbem-23495	15	45	the	the	DET
fbem-23495	15	46	overall	overall	ADJ
fbem-23495	15	47	asset	asset	NOUN
fbem-23495	15	48	allocation	allocation	NOUN
fbem-23495	15	49	efficiency	efficiency	NOUN
fbem-23495	15	50	of	of	ADP
fbem-23495	15	51	society	society	NOUN
fbem-23495	15	52	.	.	PUNCT
fbem-23495	16	1	moreover	moreover	ADV
fbem-23495	16	2	,	,	PUNCT
fbem-23495	16	3	based	base	VERB
fbem-23495	16	4	on	on	ADP
fbem-23495	16	5	principal	principal	ADJ
fbem-23495	16	6	-	-	PUNCT
fbem-23495	16	7	agent	agent	NOUN
fbem-23495	16	8	theory	theory	NOUN
fbem-23495	16	9	,	,	PUNCT
fbem-23495	16	10	enterprises	enterprise	NOUN
fbem-23495	16	11	often	often	ADV
fbem-23495	16	12	face	face	VERB
fbem-23495	16	13	principal	principal	ADJ
fbem-23495	16	14	-	-	PUNCT
fbem-23495	16	15	agent	agent	NOUN
fbem-23495	16	16	problems	problem	NOUN
fbem-23495	16	17	in	in	ADP
fbem-23495	16	18	their	their	PRON
fbem-23495	16	19	operations	operation	NOUN
fbem-23495	16	20	,	,	PUNCT
fbem-23495	16	21	such	such	ADJ
fbem-23495	16	22	as	as	ADP
fbem-23495	16	23	low	low	ADJ
fbem-23495	16	24	operational	operational	ADJ
fbem-23495	16	25	efficiency	efficiency	NOUN
fbem-23495	16	26	,	,	PUNCT
fbem-23495	16	27	information	information	NOUN
fbem-23495	16	28	asymmetry	asymmetry	NOUN
fbem-23495	16	29	,	,	PUNCT
fbem-23495	16	30	and	and	CCONJ
fbem-23495	16	31	weak	weak	ADJ
fbem-23495	16	32	decision	decision	NOUN
fbem-23495	16	33	-	-	PUNCT
fbem-23495	16	34	making	make	VERB
fbem-23495	16	35	execution	execution	NOUN
fbem-23495	16	36	.	.	PUNCT
fbem-23495	17	1	these	these	DET
fbem-23495	17	2	issues	issue	NOUN
fbem-23495	17	3	severely	severely	ADV
fbem-23495	17	4	affect	affect	VERB
fbem-23495	17	5	the	the	DET
fbem-23495	17	6	financial	financial	ADJ
fbem-23495	17	7	performance	performance	NOUN
fbem-23495	17	8	and	and	CCONJ
fbem-23495	17	9	market	market	NOUN
fbem-23495	17	10	competitiveness	competitiveness	NOUN
fbem-23495	17	11	of	of	ADP
fbem-23495	17	12	enterprises	enterprise	NOUN
fbem-23495	17	13	.	.	PUNCT
fbem-23495	18	1	by	by	ADP
fbem-23495	18	2	implementing	implement	VERB
fbem-23495	18	3	tax	tax	NOUN
fbem-23495	18	4	incentive	incentive	NOUN
fbem-23495	18	5	policies	policy	NOUN
fbem-23495	18	6	,	,	PUNCT
fbem-23495	18	7	enterprises	enterprise	NOUN
fbem-23495	18	8	can	can	AUX
fbem-23495	18	9	use	use	VERB
fbem-23495	18	10	the	the	DET
fbem-23495	18	11	savings	saving	NOUN
fbem-23495	18	12	from	from	ADP
fbem-23495	18	13	reduced	reduce	VERB
fbem-23495	18	14	tax	tax	NOUN
fbem-23495	18	15	expenses	expense	NOUN
fbem-23495	18	16	to	to	PART
fbem-23495	18	17	increase	increase	VERB
fbem-23495	18	18	managers	manager	NOUN
fbem-23495	18	19	'	'	PART
fbem-23495	18	20	salaries	salary	NOUN
fbem-23495	18	21	,	,	PUNCT
fbem-23495	18	22	thus	thus	ADV
fbem-23495	18	23	motivating	motivate	VERB
fbem-23495	18	24	their	their	PRON
fbem-23495	18	25	enthusiasm	enthusiasm	NOUN
fbem-23495	18	26	and	and	CCONJ
fbem-23495	18	27	innovative	innovative	ADJ
fbem-23495	18	28	spirit	spirit	NOUN
fbem-23495	18	29	,	,	PUNCT
fbem-23495	18	30	which	which	PRON
fbem-23495	18	31	in	in	ADP
fbem-23495	18	32	turn	turn	NOUN
fbem-23495	18	33	improves	improve	VERB
fbem-23495	18	34	management	management	NOUN
fbem-23495	18	35	efficiency	efficiency	NOUN
fbem-23495	18	36	and	and	CCONJ
fbem-23495	18	37	decision	decision	NOUN
fbem-23495	18	38	-	-	PUNCT
fbem-23495	18	39	making	make	VERB
fbem-23495	18	40	execution	execution	NOUN
fbem-23495	18	41	,	,	PUNCT
fbem-23495	18	42	further	far	ADV
fbem-23495	18	43	enhancing	enhance	VERB
fbem-23495	18	44	the	the	DET
fbem-23495	18	45	financial	financial	ADJ
fbem-23495	18	46	performance	performance	NOUN
fbem-23495	18	47	of	of	ADP
fbem-23495	18	48	the	the	DET
fbem-23495	18	49	enterprises	enterprise	NOUN
fbem-23495	18	50	.	.	PUNCT
fbem-23495	19	1	therefore	therefore	ADV
fbem-23495	19	2	,	,	PUNCT
fbem-23495	19	3	this	this	DET
fbem-23495	19	4	paper	paper	NOUN
fbem-23495	19	5	poses	pose	VERB
fbem-23495	19	6	the	the	DET
fbem-23495	19	7	following	follow	VERB
fbem-23495	19	8	hypothesis	hypothesis	NOUN
fbem-23495	19	9	:	:	PUNCT
fbem-23495	19	10	do	do	AUX
fbem-23495	19	11	tax	tax	NOUN
fbem-23495	19	12	incentive	incentive	NOUN
fbem-23495	19	13	policies	policy	NOUN
fbem-23495	19	14	truly	truly	ADV
fbem-23495	19	15	promote	promote	VERB
fbem-23495	19	16	corporate	corporate	ADJ
fbem-23495	19	17	financial	financial	ADJ
fbem-23495	19	18	performance	performance	NOUN
fbem-23495	19	19	?	?	PUNCT
fbem-23495	20	1	2	2	X
fbem-23495	20	2	.	.	X
fbem-23495	20	3	literature	literature	NOUN
fbem-23495	20	4	review	review	PROPN
fbem-23495	20	5	tax	tax	NOUN
fbem-23495	20	6	incentive	incentive	NOUN
fbem-23495	20	7	policies	policy	NOUN
fbem-23495	20	8	,	,	PUNCT
fbem-23495	20	9	as	as	ADP
fbem-23495	20	10	crucial	crucial	ADJ
fbem-23495	20	11	tools	tool	NOUN
fbem-23495	20	12	for	for	ADP
fbem-23495	20	13	government	government	NOUN
fbem-23495	20	14	economic	economic	ADJ
fbem-23495	20	15	regulation	regulation	NOUN
fbem-23495	20	16	and	and	CCONJ
fbem-23495	20	17	promoting	promote	VERB
fbem-23495	20	18	corporate	corporate	ADJ
fbem-23495	20	19	development	development	NOUN
fbem-23495	20	20	,	,	PUNCT
fbem-23495	20	21	have	have	AUX
fbem-23495	20	22	long	long	ADV
fbem-23495	20	23	been	be	AUX
fbem-23495	20	24	a	a	DET
fbem-23495	20	25	focal	focal	ADJ
fbem-23495	20	26	point	point	NOUN
fbem-23495	20	27	in	in	ADP
fbem-23495	20	28	academic	academic	ADJ
fbem-23495	20	29	research	research	NOUN
fbem-23495	20	30	regarding	regard	VERB
fbem-23495	20	31	their	their	PRON
fbem-23495	20	32	impact	impact	NOUN
fbem-23495	20	33	on	on	ADP
fbem-23495	20	34	corporate	corporate	ADJ
fbem-23495	20	35	financial	financial	ADJ
fbem-23495	20	36	performance	performance	NOUN
fbem-23495	20	37	.	.	PUNCT
fbem-23495	21	1	in	in	ADP
fbem-23495	21	2	recent	recent	ADJ
fbem-23495	21	3	years	year	NOUN
fbem-23495	21	4	,	,	PUNCT
fbem-23495	21	5	with	with	ADP
fbem-23495	21	6	economic	economic	ADJ
fbem-23495	21	7	globalization	globalization	NOUN
fbem-23495	21	8	and	and	CCONJ
fbem-23495	21	9	evolving	evolve	VERB
fbem-23495	21	10	market	market	NOUN
fbem-23495	21	11	environments	environment	NOUN
fbem-23495	21	12	,	,	PUNCT
fbem-23495	21	13	the	the	DET
fbem-23495	21	14	effectiveness	effectiveness	NOUN
fbem-23495	21	15	and	and	CCONJ
fbem-23495	21	16	mechanisms	mechanism	NOUN
fbem-23495	21	17	of	of	ADP
fbem-23495	21	18	tax	tax	NOUN
fbem-23495	21	19	incentive	incentive	NOUN
fbem-23495	21	20	policies	policy	NOUN
fbem-23495	21	21	have	have	AUX
fbem-23495	21	22	become	become	VERB
fbem-23495	21	23	hot	hot	ADJ
fbem-23495	21	24	topics	topic	NOUN
fbem-23495	21	25	in	in	ADP
fbem-23495	21	26	research	research	NOUN
fbem-23495	21	27	.	.	PUNCT
fbem-23495	22	1	below	below	ADV
fbem-23495	22	2	are	be	AUX
fbem-23495	22	3	some	some	DET
fbem-23495	22	4	representative	representative	ADJ
fbem-23495	22	5	research	research	NOUN
fbem-23495	22	6	findings	finding	NOUN
fbem-23495	22	7	that	that	PRON
fbem-23495	22	8	provide	provide	VERB
fbem-23495	22	9	theoretical	theoretical	ADJ
fbem-23495	22	10	foundations	foundation	NOUN
fbem-23495	22	11	and	and	CCONJ
fbem-23495	22	12	empirical	empirical	ADJ
fbem-23495	22	13	support	support	NOUN
fbem-23495	22	14	for	for	ADP
fbem-23495	22	15	this	this	DET
fbem-23495	22	16	study	study	NOUN
fbem-23495	22	17	.	.	PUNCT
fbem-23495	23	1	li	li	PROPN
fbem-23495	23	2	qiping	qiping	PROPN
fbem-23495	23	3	(	(	PUNCT
fbem-23495	23	4	2022	2022	NUM
fbem-23495	23	5	)	)	PUNCT
fbem-23495	23	6	utilized	utilize	VERB
fbem-23495	23	7	data	datum	NOUN
fbem-23495	23	8	from	from	ADP
fbem-23495	23	9	127	127	NUM
fbem-23495	23	10	listed	list	VERB
fbem-23495	23	11	companies	company	NOUN
fbem-23495	23	12	between	between	ADP
fbem-23495	23	13	2010	2010	NUM
fbem-23495	23	14	and	and	CCONJ
fbem-23495	23	15	2020	2020	NUM
fbem-23495	23	16	to	to	PART
fbem-23495	23	17	empirically	empirically	ADV
fbem-23495	23	18	analyze	analyze	VERB
fbem-23495	23	19	the	the	DET
fbem-23495	23	20	impact	impact	NOUN
fbem-23495	23	21	of	of	ADP
fbem-23495	23	22	tax	tax	NOUN
fbem-23495	23	23	incentive	incentive	NOUN
fbem-23495	23	24	policies	policy	NOUN
fbem-23495	23	25	on	on	ADP
fbem-23495	23	26	corporate	corporate	ADJ
fbem-23495	23	27	operational	operational	ADJ
fbem-23495	23	28	performance	performance	NOUN
fbem-23495	23	29	.	.	PUNCT
fbem-23495	24	1	li	li	PROPN
fbem-23495	24	2	found	find	VERB
fbem-23495	24	3	that	that	SCONJ
fbem-23495	24	4	tax	tax	NOUN
fbem-23495	24	5	incentives	incentive	NOUN
fbem-23495	24	6	not	not	PART
fbem-23495	24	7	only	only	ADV
fbem-23495	24	8	enhance	enhance	VERB
fbem-23495	24	9	operational	operational	ADJ
fbem-23495	24	10	efficiency	efficiency	NOUN
fbem-23495	24	11	but	but	CCONJ
fbem-23495	24	12	also	also	ADV
fbem-23495	24	13	effectively	effectively	ADV
fbem-23495	24	14	reduce	reduce	VERB
fbem-23495	24	15	overall	overall	ADJ
fbem-23495	24	16	corporate	corporate	ADJ
fbem-23495	24	17	risks	risk	NOUN
fbem-23495	24	18	.	.	PUNCT
fbem-23495	25	1	198	198	NUM
fbem-23495	25	2	this	this	DET
fbem-23495	25	3	study	study	NOUN
fbem-23495	25	4	is	be	AUX
fbem-23495	25	5	significant	significant	ADJ
fbem-23495	25	6	as	as	SCONJ
fbem-23495	25	7	it	it	PRON
fbem-23495	25	8	reveals	reveal	VERB
fbem-23495	25	9	the	the	DET
fbem-23495	25	10	potential	potential	ADJ
fbem-23495	25	11	value	value	NOUN
fbem-23495	25	12	of	of	ADP
fbem-23495	25	13	tax	tax	NOUN
fbem-23495	25	14	incentive	incentive	NOUN
fbem-23495	25	15	policies	policy	NOUN
fbem-23495	25	16	in	in	ADP
fbem-23495	25	17	risk	risk	NOUN
fbem-23495	25	18	management	management	NOUN
fbem-23495	25	19	,	,	PUNCT
fbem-23495	25	20	offering	offer	VERB
fbem-23495	25	21	a	a	DET
fbem-23495	25	22	new	new	ADJ
fbem-23495	25	23	perspective	perspective	NOUN
fbem-23495	25	24	on	on	ADP
fbem-23495	25	25	the	the	DET
fbem-23495	25	26	relationship	relationship	NOUN
fbem-23495	25	27	between	between	ADP
fbem-23495	25	28	tax	tax	NOUN
fbem-23495	25	29	incentives	incentive	NOUN
fbem-23495	25	30	and	and	CCONJ
fbem-23495	25	31	robust	robust	ADJ
fbem-23495	25	32	corporate	corporate	ADJ
fbem-23495	25	33	operations	operation	NOUN
fbem-23495	25	34	.	.	PUNCT
fbem-23495	26	1	tang	tang	PROPN
fbem-23495	26	2	hongxiang	hongxiang	PROPN
fbem-23495	26	3	and	and	CCONJ
fbem-23495	26	4	li	li	PROPN
fbem-23495	26	5	yinchang	yinchang	PROPN
fbem-23495	26	6	(	(	PUNCT
fbem-23495	26	7	2020	2020	NUM
fbem-23495	26	8	)	)	PUNCT
fbem-23495	26	9	quantitatively	quantitatively	ADV
fbem-23495	26	10	analyzed	analyze	VERB
fbem-23495	26	11	the	the	DET
fbem-23495	26	12	relationship	relationship	NOUN
fbem-23495	26	13	between	between	ADP
fbem-23495	26	14	tax	tax	NOUN
fbem-23495	26	15	incentive	incentive	NOUN
fbem-23495	26	16	policies	policy	NOUN
fbem-23495	26	17	and	and	CCONJ
fbem-23495	26	18	corporate	corporate	ADJ
fbem-23495	26	19	performance	performance	NOUN
fbem-23495	26	20	using	use	VERB
fbem-23495	26	21	return	return	NOUN
fbem-23495	26	22	on	on	ADP
fbem-23495	26	23	assets	asset	NOUN
fbem-23495	26	24	(	(	PUNCT
fbem-23495	26	25	roa	roa	NOUN
fbem-23495	26	26	)	)	PUNCT
fbem-23495	26	27	and	and	CCONJ
fbem-23495	26	28	return	return	VERB
fbem-23495	26	29	on	on	ADP
fbem-23495	26	30	equity	equity	NOUN
fbem-23495	26	31	(	(	PUNCT
fbem-23495	26	32	roe	roe	PROPN
fbem-23495	26	33	)	)	PUNCT
fbem-23495	26	34	as	as	ADP
fbem-23495	26	35	primary	primary	ADJ
fbem-23495	26	36	financial	financial	ADJ
fbem-23495	26	37	performance	performance	NOUN
fbem-23495	26	38	indicators	indicator	NOUN
fbem-23495	26	39	.	.	PUNCT
fbem-23495	27	1	their	their	PRON
fbem-23495	27	2	research	research	NOUN
fbem-23495	27	3	results	result	NOUN
fbem-23495	27	4	demonstrate	demonstrate	VERB
fbem-23495	27	5	a	a	DET
fbem-23495	27	6	significant	significant	ADJ
fbem-23495	27	7	positive	positive	ADJ
fbem-23495	27	8	correlation	correlation	NOUN
fbem-23495	27	9	between	between	ADP
fbem-23495	27	10	tax	tax	NOUN
fbem-23495	27	11	incentive	incentive	NOUN
fbem-23495	27	12	policies	policy	NOUN
fbem-23495	27	13	and	and	CCONJ
fbem-23495	27	14	corporate	corporate	ADJ
fbem-23495	27	15	performance	performance	NOUN
fbem-23495	27	16	,	,	PUNCT
fbem-23495	27	17	indicating	indicate	VERB
fbem-23495	27	18	that	that	SCONJ
fbem-23495	27	19	tax	tax	NOUN
fbem-23495	27	20	incentives	incentive	NOUN
fbem-23495	27	21	are	be	AUX
fbem-23495	27	22	effective	effective	ADJ
fbem-23495	27	23	tools	tool	NOUN
fbem-23495	27	24	for	for	ADP
fbem-23495	27	25	enhancing	enhance	VERB
fbem-23495	27	26	corporate	corporate	ADJ
fbem-23495	27	27	financial	financial	ADJ
fbem-23495	27	28	performance	performance	NOUN
fbem-23495	27	29	.	.	PUNCT
fbem-23495	28	1	this	this	DET
fbem-23495	28	2	study	study	NOUN
fbem-23495	28	3	's	's	PART
fbem-23495	28	4	methodology	methodology	NOUN
fbem-23495	28	5	provides	provide	VERB
fbem-23495	28	6	a	a	DET
fbem-23495	28	7	reliable	reliable	ADJ
fbem-23495	28	8	analytical	analytical	ADJ
fbem-23495	28	9	framework	framework	NOUN
fbem-23495	28	10	for	for	ADP
fbem-23495	28	11	subsequent	subsequent	ADJ
fbem-23495	28	12	research	research	NOUN
fbem-23495	28	13	and	and	CCONJ
fbem-23495	28	14	emphasizes	emphasize	VERB
fbem-23495	28	15	the	the	DET
fbem-23495	28	16	positive	positive	ADJ
fbem-23495	28	17	role	role	NOUN
fbem-23495	28	18	of	of	ADP
fbem-23495	28	19	tax	tax	NOUN
fbem-23495	28	20	policies	policy	NOUN
fbem-23495	28	21	in	in	ADP
fbem-23495	28	22	improving	improve	VERB
fbem-23495	28	23	corporate	corporate	ADJ
fbem-23495	28	24	performance	performance	NOUN
fbem-23495	28	25	.	.	PUNCT
fbem-23495	29	1	cai	cai	PROPN
fbem-23495	29	2	chang	chang	PROPN
fbem-23495	29	3	(	(	PUNCT
fbem-23495	29	4	2017	2017	NUM
fbem-23495	29	5	)	)	PUNCT
fbem-23495	29	6	conducted	conduct	VERB
fbem-23495	29	7	an	an	DET
fbem-23495	29	8	in	in	ADP
fbem-23495	29	9	-	-	PUNCT
fbem-23495	29	10	depth	depth	NOUN
fbem-23495	29	11	study	study	NOUN
fbem-23495	29	12	on	on	ADP
fbem-23495	29	13	the	the	DET
fbem-23495	29	14	relationship	relationship	NOUN
fbem-23495	29	15	between	between	ADP
fbem-23495	29	16	property	property	NOUN
fbem-23495	29	17	rights	right	NOUN
fbem-23495	29	18	,	,	PUNCT
fbem-23495	29	19	tax	tax	NOUN
fbem-23495	29	20	burden	burden	NOUN
fbem-23495	29	21	,	,	PUNCT
fbem-23495	29	22	and	and	CCONJ
fbem-23495	29	23	corporate	corporate	ADJ
fbem-23495	29	24	financial	financial	ADJ
fbem-23495	29	25	performance	performance	NOUN
fbem-23495	29	26	using	use	VERB
fbem-23495	29	27	data	datum	NOUN
fbem-23495	29	28	from	from	ADP
fbem-23495	29	29	shanghai	shanghai	PROPN
fbem-23495	29	30	and	and	CCONJ
fbem-23495	29	31	shenzhen	shenzhen	PROPN
fbem-23495	29	32	a	a	PROPN
fbem-23495	29	33	-	-	PUNCT
fbem-23495	29	34	share	share	NOUN
fbem-23495	29	35	listed	list	VERB
fbem-23495	29	36	companies	company	NOUN
fbem-23495	29	37	between	between	ADP
fbem-23495	29	38	2008	2008	NUM
fbem-23495	29	39	and	and	CCONJ
fbem-23495	29	40	2013	2013	NUM
fbem-23495	29	41	.	.	PUNCT
fbem-23495	30	1	cai	cai	PROPN
fbem-23495	30	2	's	's	PART
fbem-23495	30	3	empirical	empirical	ADJ
fbem-23495	30	4	analysis	analysis	NOUN
fbem-23495	30	5	revealed	reveal	VERB
fbem-23495	30	6	a	a	DET
fbem-23495	30	7	significant	significant	ADJ
fbem-23495	30	8	negative	negative	ADJ
fbem-23495	30	9	correlation	correlation	NOUN
fbem-23495	30	10	between	between	ADP
fbem-23495	30	11	tax	tax	NOUN
fbem-23495	30	12	burden	burden	NOUN
fbem-23495	30	13	and	and	CCONJ
fbem-23495	30	14	corporate	corporate	ADJ
fbem-23495	30	15	financial	financial	ADJ
fbem-23495	30	16	performance	performance	NOUN
fbem-23495	30	17	,	,	PUNCT
fbem-23495	30	18	highlighting	highlight	VERB
fbem-23495	30	19	the	the	DET
fbem-23495	30	20	role	role	NOUN
fbem-23495	30	21	of	of	ADP
fbem-23495	30	22	tax	tax	NOUN
fbem-23495	30	23	burden	burden	NOUN
fbem-23495	30	24	as	as	ADP
fbem-23495	30	25	a	a	DET
fbem-23495	30	26	"	"	PUNCT
fbem-23495	30	27	bridge	bridge	NOUN
fbem-23495	30	28	"	"	PUNCT
fbem-23495	30	29	in	in	ADP
fbem-23495	30	30	influencing	influence	VERB
fbem-23495	30	31	corporate	corporate	ADJ
fbem-23495	30	32	investment	investment	NOUN
fbem-23495	30	33	decisions	decision	NOUN
fbem-23495	30	34	,	,	PUNCT
fbem-23495	30	35	capital	capital	NOUN
fbem-23495	30	36	structure	structure	NOUN
fbem-23495	30	37	,	,	PUNCT
fbem-23495	30	38	and	and	CCONJ
fbem-23495	30	39	operational	operational	ADJ
fbem-23495	30	40	efficiency	efficiency	NOUN
fbem-23495	30	41	.	.	PUNCT
fbem-23495	31	1	this	this	DET
fbem-23495	31	2	study	study	NOUN
fbem-23495	31	3	enriches	enrich	VERB
fbem-23495	31	4	our	our	PRON
fbem-23495	31	5	understanding	understanding	NOUN
fbem-23495	31	6	of	of	ADP
fbem-23495	31	7	how	how	SCONJ
fbem-23495	31	8	tax	tax	NOUN
fbem-23495	31	9	burden	burden	NOUN
fbem-23495	31	10	affects	affect	VERB
fbem-23495	31	11	corporate	corporate	ADJ
fbem-23495	31	12	financial	financial	ADJ
fbem-23495	31	13	decisions	decision	NOUN
fbem-23495	31	14	and	and	CCONJ
fbem-23495	31	15	provides	provide	VERB
fbem-23495	31	16	crucial	crucial	ADJ
fbem-23495	31	17	reference	reference	NOUN
fbem-23495	31	18	points	point	NOUN
fbem-23495	31	19	for	for	ADP
fbem-23495	31	20	designing	design	VERB
fbem-23495	31	21	tax	tax	NOUN
fbem-23495	31	22	incentive	incentive	NOUN
fbem-23495	31	23	policies	policy	NOUN
fbem-23495	31	24	.	.	PUNCT
fbem-23495	32	1	these	these	DET
fbem-23495	32	2	studies	study	NOUN
fbem-23495	32	3	analyze	analyze	VERB
fbem-23495	32	4	the	the	DET
fbem-23495	32	5	impact	impact	NOUN
fbem-23495	32	6	of	of	ADP
fbem-23495	32	7	tax	tax	NOUN
fbem-23495	32	8	incentive	incentive	NOUN
fbem-23495	32	9	policies	policy	NOUN
fbem-23495	32	10	on	on	ADP
fbem-23495	32	11	corporate	corporate	ADJ
fbem-23495	32	12	financial	financial	ADJ
fbem-23495	32	13	performance	performance	NOUN
fbem-23495	32	14	from	from	ADP
fbem-23495	32	15	various	various	ADJ
fbem-23495	32	16	perspectives	perspective	NOUN
fbem-23495	32	17	,	,	PUNCT
fbem-23495	32	18	providing	provide	VERB
fbem-23495	32	19	multidimensional	multidimensional	ADJ
fbem-23495	32	20	references	reference	NOUN
fbem-23495	32	21	for	for	ADP
fbem-23495	32	22	this	this	DET
fbem-23495	32	23	study	study	NOUN
fbem-23495	32	24	.	.	PUNCT
fbem-23495	33	1	building	build	VERB
fbem-23495	33	2	upon	upon	SCONJ
fbem-23495	33	3	these	these	DET
fbem-23495	33	4	existing	exist	VERB
fbem-23495	33	5	research	research	NOUN
fbem-23495	33	6	findings	finding	NOUN
fbem-23495	33	7	,	,	PUNCT
fbem-23495	33	8	this	this	DET
fbem-23495	33	9	study	study	NOUN
fbem-23495	33	10	aims	aim	VERB
fbem-23495	33	11	to	to	PART
fbem-23495	33	12	further	far	ADV
fbem-23495	33	13	explore	explore	VERB
fbem-23495	33	14	the	the	DET
fbem-23495	33	15	differential	differential	ADJ
fbem-23495	33	16	effects	effect	NOUN
fbem-23495	33	17	of	of	ADP
fbem-23495	33	18	tax	tax	NOUN
fbem-23495	33	19	incentive	incentive	NOUN
fbem-23495	33	20	policies	policy	NOUN
fbem-23495	33	21	across	across	ADP
fbem-23495	33	22	different	different	ADJ
fbem-23495	33	23	industry	industry	NOUN
fbem-23495	33	24	backgrounds	background	NOUN
fbem-23495	33	25	and	and	CCONJ
fbem-23495	33	26	propose	propose	VERB
fbem-23495	33	27	strategies	strategy	NOUN
fbem-23495	33	28	to	to	PART
fbem-23495	33	29	optimize	optimize	VERB
fbem-23495	33	30	tax	tax	NOUN
fbem-23495	33	31	policies	policy	NOUN
fbem-23495	33	32	to	to	PART
fbem-23495	33	33	promote	promote	VERB
fbem-23495	33	34	long	long	ADJ
fbem-23495	33	35	-	-	PUNCT
fbem-23495	33	36	term	term	NOUN
fbem-23495	33	37	corporate	corporate	ADJ
fbem-23495	33	38	development	development	NOUN
fbem-23495	33	39	and	and	CCONJ
fbem-23495	33	40	balance	balance	NOUN
fbem-23495	33	41	among	among	ADP
fbem-23495	33	42	industries	industry	NOUN
fbem-23495	33	43	.	.	PUNCT
fbem-23495	34	1	3	3	X
fbem-23495	34	2	.	.	X
fbem-23495	34	3	case	case	NOUN
fbem-23495	34	4	design	design	VERB
fbem-23495	34	5	3.1	3.1	NUM
fbem-23495	34	6	.	.	PUNCT
fbem-23495	35	1	variable	variable	ADJ
fbem-23495	35	2	definition	definition	NOUN
fbem-23495	35	3	dependent	dependent	ADJ
fbem-23495	35	4	variable	variable	NOUN
fbem-23495	35	5	:	:	PUNCT
fbem-23495	35	6	corporate	corporate	ADJ
fbem-23495	35	7	financial	financial	ADJ
fbem-23495	35	8	performance	performance	NOUN
fbem-23495	35	9	(	(	PUNCT
fbem-23495	35	10	roe	roe	NOUN
fbem-23495	35	11	)	)	PUNCT
fbem-23495	35	12	.	.	PUNCT
fbem-23495	36	1	referring	refer	VERB
fbem-23495	36	2	to	to	ADP
fbem-23495	36	3	relevant	relevant	ADJ
fbem-23495	36	4	studies	study	NOUN
fbem-23495	36	5	by	by	ADP
fbem-23495	36	6	domestic	domestic	ADJ
fbem-23495	36	7	and	and	CCONJ
fbem-23495	36	8	foreign	foreign	ADJ
fbem-23495	36	9	scholars	scholar	NOUN
fbem-23495	36	10	,	,	PUNCT
fbem-23495	36	11	the	the	DET
fbem-23495	36	12	return	return	NOUN
fbem-23495	36	13	on	on	ADP
fbem-23495	36	14	equity	equity	NOUN
fbem-23495	36	15	(	(	PUNCT
fbem-23495	36	16	roe	roe	PROPN
fbem-23495	36	17	)	)	PUNCT
fbem-23495	36	18	is	be	AUX
fbem-23495	36	19	commonly	commonly	ADV
fbem-23495	36	20	used	use	VERB
fbem-23495	36	21	as	as	ADP
fbem-23495	36	22	an	an	DET
fbem-23495	36	23	indicator	indicator	NOUN
fbem-23495	36	24	to	to	PART
fbem-23495	36	25	measure	measure	VERB
fbem-23495	36	26	company	company	NOUN
fbem-23495	36	27	performance	performance	NOUN
fbem-23495	36	28	.	.	PUNCT
fbem-23495	37	1	return	return	NOUN
fbem-23495	37	2	on	on	ADP
fbem-23495	37	3	equity	equity	NOUN
fbem-23495	37	4	=	=	SYM
fbem-23495	37	5	net	net	ADJ
fbem-23495	37	6	profit	profit	NOUN
fbem-23495	37	7	/	/	SYM
fbem-23495	37	8	total	total	ADJ
fbem-23495	37	9	equity	equity	NOUN
fbem-23495	37	10	.	.	PUNCT
fbem-23495	38	1	it	it	PRON
fbem-23495	38	2	is	be	AUX
fbem-23495	38	3	a	a	DET
fbem-23495	38	4	comprehensive	comprehensive	ADJ
fbem-23495	38	5	financial	financial	ADJ
fbem-23495	38	6	indicator	indicator	NOUN
fbem-23495	38	7	that	that	PRON
fbem-23495	38	8	reflects	reflect	VERB
fbem-23495	38	9	a	a	DET
fbem-23495	38	10	company	company	NOUN
fbem-23495	38	11	's	's	PART
fbem-23495	38	12	ability	ability	NOUN
fbem-23495	38	13	to	to	PART
fbem-23495	38	14	generate	generate	VERB
fbem-23495	38	15	returns	return	NOUN
fbem-23495	38	16	using	use	VERB
fbem-23495	38	17	owner	owner	NOUN
fbem-23495	38	18	's	's	PART
fbem-23495	38	19	equity	equity	NOUN
fbem-23495	38	20	,	,	PUNCT
fbem-23495	38	21	and	and	CCONJ
fbem-23495	38	22	it	it	PRON
fbem-23495	38	23	indicates	indicate	VERB
fbem-23495	38	24	the	the	DET
fbem-23495	38	25	efficiency	efficiency	NOUN
fbem-23495	38	26	of	of	ADP
fbem-23495	38	27	a	a	DET
fbem-23495	38	28	company	company	NOUN
fbem-23495	38	29	's	's	PART
fbem-23495	38	30	financing	financing	NOUN
fbem-23495	38	31	,	,	PUNCT
fbem-23495	38	32	investment	investment	NOUN
fbem-23495	38	33	,	,	PUNCT
fbem-23495	38	34	and	and	CCONJ
fbem-23495	38	35	operational	operational	ADJ
fbem-23495	38	36	activities	activity	NOUN
fbem-23495	38	37	.	.	PUNCT
fbem-23495	39	1	the	the	PRON
fbem-23495	39	2	larger	large	ADJ
fbem-23495	39	3	this	this	DET
fbem-23495	39	4	value	value	NOUN
fbem-23495	39	5	,	,	PUNCT
fbem-23495	39	6	the	the	PRON
fbem-23495	39	7	higher	high	ADJ
fbem-23495	39	8	the	the	DET
fbem-23495	39	9	corporate	corporate	ADJ
fbem-23495	39	10	financial	financial	ADJ
fbem-23495	39	11	performance	performance	NOUN
fbem-23495	39	12	.	.	PUNCT
fbem-23495	40	1	independent	independent	ADJ
fbem-23495	40	2	variable	variable	NOUN
fbem-23495	40	3	:	:	PUNCT
fbem-23495	40	4	tax	tax	NOUN
fbem-23495	40	5	incentives	incentive	NOUN
fbem-23495	40	6	(	(	PUNCT
fbem-23495	40	7	tax	tax	NOUN
fbem-23495	40	8	)	)	PUNCT
fbem-23495	40	9	.	.	PUNCT
fbem-23495	41	1	dummy	dummy	ADJ
fbem-23495	41	2	variable	variable	NOUN
fbem-23495	41	3	:	:	PUNCT
fbem-23495	41	4	companies	company	NOUN
fbem-23495	41	5	with	with	ADP
fbem-23495	41	6	an	an	DET
fbem-23495	41	7	effective	effective	ADJ
fbem-23495	41	8	tax	tax	NOUN
fbem-23495	41	9	rate	rate	NOUN
fbem-23495	41	10	below	below	ADP
fbem-23495	41	11	25	25	NUM
fbem-23495	41	12	%	%	NOUN
fbem-23495	41	13	at	at	ADP
fbem-23495	41	14	the	the	DET
fbem-23495	41	15	end	end	NOUN
fbem-23495	41	16	of	of	ADP
fbem-23495	41	17	the	the	DET
fbem-23495	41	18	year	year	NOUN
fbem-23495	41	19	are	be	AUX
fbem-23495	41	20	considered	consider	VERB
fbem-23495	41	21	to	to	PART
fbem-23495	41	22	be	be	AUX
fbem-23495	41	23	enjoying	enjoy	VERB
fbem-23495	41	24	tax	tax	NOUN
fbem-23495	41	25	incentive	incentive	NOUN
fbem-23495	41	26	policies	policy	NOUN
fbem-23495	41	27	,	,	PUNCT
fbem-23495	41	28	marked	mark	VERB
fbem-23495	41	29	as	as	ADP
fbem-23495	41	30	1	1	NUM
fbem-23495	41	31	;	;	PUNCT
fbem-23495	41	32	otherwise	otherwise	ADV
fbem-23495	41	33	,	,	PUNCT
fbem-23495	41	34	marked	mark	VERB
fbem-23495	41	35	as	as	ADP
fbem-23495	41	36	0	0	NUM
fbem-23495	41	37	.	.	PUNCT
fbem-23495	42	1	control	control	NOUN
fbem-23495	42	2	variables	variable	NOUN
fbem-23495	42	3	:	:	PUNCT
fbem-23495	42	4	to	to	PART
fbem-23495	42	5	better	well	ADV
fbem-23495	42	6	study	study	VERB
fbem-23495	42	7	the	the	DET
fbem-23495	42	8	impact	impact	NOUN
fbem-23495	42	9	of	of	ADP
fbem-23495	42	10	tax	tax	NOUN
fbem-23495	42	11	incentives	incentive	NOUN
fbem-23495	42	12	on	on	ADP
fbem-23495	42	13	corporate	corporate	ADJ
fbem-23495	42	14	financial	financial	ADJ
fbem-23495	42	15	performance	performance	NOUN
fbem-23495	42	16	,	,	PUNCT
fbem-23495	42	17	this	this	DET
fbem-23495	42	18	paper	paper	NOUN
fbem-23495	42	19	selects	select	NOUN
fbem-23495	42	20	firm	firm	ADJ
fbem-23495	42	21	size	size	NOUN
fbem-23495	42	22	(	(	PUNCT
fbem-23495	42	23	size	size	NOUN
fbem-23495	42	24	)	)	PUNCT
fbem-23495	42	25	,	,	PUNCT
fbem-23495	42	26	leverage	leverage	NOUN
fbem-23495	42	27	ratio	ratio	NOUN
fbem-23495	42	28	(	(	PUNCT
fbem-23495	42	29	lev	lev	NOUN
fbem-23495	42	30	)	)	PUNCT
fbem-23495	42	31	,	,	PUNCT
fbem-23495	42	32	and	and	CCONJ
fbem-23495	42	33	ownership	ownership	NOUN
fbem-23495	42	34	concentration	concentration	NOUN
fbem-23495	42	35	(	(	PUNCT
fbem-23495	42	36	proportion	proportion	NOUN
fbem-23495	42	37	of	of	ADP
fbem-23495	42	38	shares	share	NOUN
fbem-23495	42	39	held	hold	VERB
fbem-23495	42	40	by	by	ADP
fbem-23495	42	41	the	the	DET
fbem-23495	42	42	largest	large	ADJ
fbem-23495	42	43	shareholder	shareholder	NOUN
fbem-23495	42	44	,	,	PUNCT
fbem-23495	42	45	top1	top1	PROPN
fbem-23495	42	46	)	)	PUNCT
fbem-23495	42	47	as	as	ADP
fbem-23495	42	48	control	control	NOUN
fbem-23495	42	49	variables	variable	NOUN
fbem-23495	42	50	.	.	PUNCT
fbem-23495	43	1	in	in	ADP
fbem-23495	43	2	summary	summary	NOUN
fbem-23495	43	3	,	,	PUNCT
fbem-23495	43	4	the	the	DET
fbem-23495	43	5	various	various	ADJ
fbem-23495	43	6	variable	variable	ADJ
fbem-23495	43	7	indicators	indicator	NOUN
fbem-23495	43	8	selected	select	VERB
fbem-23495	43	9	in	in	ADP
fbem-23495	43	10	this	this	DET
fbem-23495	43	11	paper	paper	NOUN
fbem-23495	43	12	are	be	AUX
fbem-23495	43	13	shown	show	VERB
fbem-23495	43	14	in	in	ADP
fbem-23495	43	15	the	the	DET
fbem-23495	43	16	table	table	NOUN
fbem-23495	43	17	below	below	ADV
fbem-23495	43	18	:	:	PUNCT
fbem-23495	43	19	table	table	NOUN
fbem-23495	43	20	1	1	NUM
fbem-23495	43	21	.	.	PUNCT
fbem-23495	43	22	model	model	PROPN
fbem-23495	43	23	variables	variables	PROPN
fbem-23495	43	24	variable	variable	ADJ
fbem-23495	43	25	type	type	NOUN
fbem-23495	43	26	variable	variable	ADJ
fbem-23495	43	27	name	name	NOUN
fbem-23495	43	28	variable	variable	ADJ
fbem-23495	43	29	symbol	symbol	NOUN
fbem-23495	43	30	variable	variable	ADJ
fbem-23495	43	31	definition	definition	NOUN
fbem-23495	43	32	dependent	dependent	ADJ
fbem-23495	43	33	return	return	NOUN
fbem-23495	43	34	on	on	ADP
fbem-23495	43	35	equity	equity	NOUN
fbem-23495	43	36	roe	roe	PROPN
fbem-23495	43	37	net	net	ADJ
fbem-23495	43	38	profit	profit	NOUN
fbem-23495	43	39	for	for	ADP
fbem-23495	43	40	the	the	DET
fbem-23495	43	41	year	year	NOUN
fbem-23495	43	42	divided	divide	VERB
fbem-23495	43	43	by	by	ADP
fbem-23495	43	44	book	book	NOUN
fbem-23495	43	45	value	value	NOUN
fbem-23495	43	46	of	of	ADP
fbem-23495	43	47	equity	equity	NOUN
fbem-23495	43	48	for	for	ADP
fbem-23495	43	49	the	the	DET
fbem-23495	43	50	year	year	NOUN
fbem-23495	43	51	explanatory	explanatory	ADJ
fbem-23495	43	52	tax	tax	NOUN
fbem-23495	43	53	incentives	incentive	VERB
fbem-23495	43	54	tax	tax	NOUN
fbem-23495	43	55	recorded	record	VERB
fbem-23495	43	56	as	as	ADP
fbem-23495	43	57	1	1	NUM
fbem-23495	43	58	if	if	SCONJ
fbem-23495	43	59	year	year	NOUN
fbem-23495	43	60	-	-	PUNCT
fbem-23495	43	61	end	end	NOUN
fbem-23495	43	62	income	income	NOUN
fbem-23495	43	63	tax	tax	NOUN
fbem-23495	43	64	rate	rate	NOUN
fbem-23495	43	65	is	be	AUX
fbem-23495	43	66	below	below	ADP
fbem-23495	43	67	25	25	NUM
fbem-23495	43	68	%	%	NOUN
fbem-23495	43	69	,	,	PUNCT
fbem-23495	43	70	otherwise	otherwise	ADV
fbem-23495	43	71	0	0	NUM
fbem-23495	43	72	control	control	NOUN
fbem-23495	43	73	enterprise	enterprise	NOUN
fbem-23495	43	74	size	size	NOUN
fbem-23495	43	75	size	size	NOUN
fbem-23495	43	76	natural	natural	ADJ
fbem-23495	43	77	logarithm	logarithm	NOUN
fbem-23495	43	78	of	of	ADP
fbem-23495	43	79	total	total	ADJ
fbem-23495	43	80	assets	asset	NOUN
fbem-23495	43	81	of	of	ADP
fbem-23495	43	82	the	the	DET
fbem-23495	43	83	enterprise	enterprise	NOUN
fbem-23495	43	84	debt	debt	NOUN
fbem-23495	43	85	-	-	PUNCT
fbem-23495	43	86	to	to	ADP
fbem-23495	43	87	-	-	PUNCT
fbem-23495	43	88	asset	asset	NOUN
fbem-23495	43	89	ratio	ratio	NOUN
fbem-23495	43	90	lev	lev	NOUN
fbem-23495	43	91	total	total	ADJ
fbem-23495	43	92	liabilities	liability	NOUN
fbem-23495	43	93	of	of	ADP
fbem-23495	43	94	the	the	DET
fbem-23495	43	95	enterprise	enterprise	NOUN
fbem-23495	43	96	divided	divide	VERB
fbem-23495	43	97	by	by	ADP
fbem-23495	43	98	total	total	ADJ
fbem-23495	43	99	assets	asset	NOUN
fbem-23495	43	100	ownership	ownership	NOUN
fbem-23495	43	101	concentration	concentration	NOUN
fbem-23495	43	102	top1	top1	NOUN
fbem-23495	43	103	proportion	proportion	NOUN
fbem-23495	43	104	of	of	ADP
fbem-23495	43	105	shares	share	NOUN
fbem-23495	43	106	held	hold	VERB
fbem-23495	43	107	by	by	ADP
fbem-23495	43	108	the	the	DET
fbem-23495	43	109	largest	large	ADJ
fbem-23495	43	110	shareholder	shareholder	NOUN
fbem-23495	43	111	3.2	3.2	NUM
fbem-23495	43	112	.	.	PUNCT
fbem-23495	44	1	model	model	NOUN
fbem-23495	44	2	construction	construction	NOUN
fbem-23495	44	3	and	and	CCONJ
fbem-23495	44	4	variable	variable	ADJ
fbem-23495	44	5	selection	selection	NOUN
fbem-23495	44	6	in	in	ADP
fbem-23495	44	7	response	response	NOUN
fbem-23495	44	8	to	to	ADP
fbem-23495	44	9	the	the	DET
fbem-23495	44	10	issues	issue	NOUN
fbem-23495	44	11	raised	raise	VERB
fbem-23495	44	12	earlier	early	ADV
fbem-23495	44	13	and	and	CCONJ
fbem-23495	44	14	drawing	draw	VERB
fbem-23495	44	15	from	from	ADP
fbem-23495	44	16	existing	exist	VERB
fbem-23495	44	17	literature	literature	NOUN
fbem-23495	45	1	,	,	PUNCT
fbem-23495	45	2	this	this	DET
fbem-23495	45	3	paper	paper	NOUN
fbem-23495	45	4	proposes	propose	VERB
fbem-23495	45	5	the	the	DET
fbem-23495	45	6	following	follow	VERB
fbem-23495	45	7	model	model	NOUN
fbem-23495	45	8	design	design	NOUN
fbem-23495	45	9	:	:	PUNCT
fbem-23495	45	10	titt	titt	PROPN
fbem-23495	45	11	taxroe	taxroe	NOUN
fbem-23495	45	12	,	,	PUNCT
fbem-23495	45	13	ti,4ti,3ti,2,i10,i	ti,4ti,3ti,2,i10,i	PROPN
fbem-23495	46	1	top1levsize	top1levsize	PROPN
fbem-23495	46	2			PROPN
fbem-23495	47	1	+	+	ADJ
fbem-23495	47	2	+	+	ADJ
fbem-23495	47	3	+	+	ADJ
fbem-23495	47	4	+	+	ADJ
fbem-23495	47	5	+	+	NOUN
fbem-23495	47	6	=	=	X
fbem-23495	47	7	here	here	ADV
fbem-23495	47	8	,	,	PUNCT
fbem-23495	47	9	i	i	PRON
fbem-23495	47	10	represents	represent	VERB
fbem-23495	47	11	individual	individual	ADJ
fbem-23495	47	12	firms	firm	NOUN
fbem-23495	47	13	,	,	PUNCT
fbem-23495	47	14	t	t	PROPN
fbem-23495	47	15	represents	represent	VERB
fbem-23495	47	16	years	year	NOUN
fbem-23495	47	17	,	,	PUNCT
fbem-23495	47	18	βi	βi	PROPN
fbem-23495	47	19	denotes	denote	VERB
fbem-23495	47	20	regression	regression	NOUN
fbem-23495	47	21	coefficients	coefficient	NOUN
fbem-23495	47	22	,	,	PUNCT
fbem-23495	47	23	ε	ε	PROPN
fbem-23495	47	24	is	be	AUX
fbem-23495	47	25	the	the	DET
fbem-23495	47	26	random	random	ADJ
fbem-23495	47	27	disturbance	disturbance	NOUN
fbem-23495	47	28	term	term	NOUN
fbem-23495	47	29	,	,	PUNCT
fbem-23495	47	30	and	and	CCONJ
fbem-23495	47	31	year	year	NOUN
fbem-23495	47	32	effects	effect	NOUN
fbem-23495	47	33	are	be	AUX
fbem-23495	47	34	controlled	control	VERB
fbem-23495	47	35	.	.	PUNCT
fbem-23495	48	1	3.3	3.3	NUM
fbem-23495	48	2	.	.	PUNCT
fbem-23495	49	1	data	datum	NOUN
fbem-23495	49	2	source	source	NOUN
fbem-23495	49	3	to	to	PART
fbem-23495	49	4	effectively	effectively	ADV
fbem-23495	49	5	and	and	CCONJ
fbem-23495	49	6	comprehensively	comprehensively	ADV
fbem-23495	49	7	investigate	investigate	VERB
fbem-23495	49	8	the	the	DET
fbem-23495	49	9	impact	impact	NOUN
fbem-23495	49	10	of	of	ADP
fbem-23495	49	11	tax	tax	NOUN
fbem-23495	49	12	incentives	incentive	NOUN
fbem-23495	49	13	on	on	ADP
fbem-23495	49	14	corporate	corporate	ADJ
fbem-23495	49	15	financial	financial	ADJ
fbem-23495	49	16	performance	performance	NOUN
fbem-23495	49	17	,	,	PUNCT
fbem-23495	49	18	this	this	DET
fbem-23495	49	19	study	study	NOUN
fbem-23495	49	20	selects	select	VERB
fbem-23495	49	21	financial	financial	ADJ
fbem-23495	49	22	data	datum	NOUN
fbem-23495	49	23	of	of	ADP
fbem-23495	49	24	a	a	DET
fbem-23495	49	25	-	-	PUNCT
fbem-23495	49	26	share	share	NOUN
fbem-23495	49	27	listed	list	VERB
fbem-23495	49	28	companies	company	NOUN
fbem-23495	49	29	from	from	ADP
fbem-23495	49	30	2012	2012	NUM
fbem-23495	49	31	to	to	ADP
fbem-23495	49	32	2016	2016	NUM
fbem-23495	49	33	as	as	ADP
fbem-23495	49	34	the	the	DET
fbem-23495	49	35	research	research	NOUN
fbem-23495	49	36	objects	object	NOUN
fbem-23495	49	37	,	,	PUNCT
fbem-23495	49	38	sourced	source	VERB
fbem-23495	49	39	from	from	ADP
fbem-23495	49	40	the	the	DET
fbem-23495	49	41	guotai	guotai	NOUN
fbem-23495	49	42	an	an	DET
fbem-23495	49	43	csmar	csmar	PROPN
fbem-23495	49	44	database	database	NOUN
fbem-23495	49	45	.	.	PUNCT
fbem-23495	50	1	during	during	ADP
fbem-23495	50	2	data	datum	NOUN
fbem-23495	50	3	cleaning	cleaning	NOUN
fbem-23495	50	4	,	,	PUNCT
fbem-23495	50	5	financial	financial	ADJ
fbem-23495	50	6	industry	industry	NOUN
fbem-23495	50	7	data	data	PROPN
fbem-23495	50	8	,	,	PUNCT
fbem-23495	50	9	st	st	NOUN
fbem-23495	50	10	-	-	PUNCT
fbem-23495	50	11	listed	list	VERB
fbem-23495	50	12	companies	company	NOUN
fbem-23495	50	13	,	,	PUNCT
fbem-23495	50	14	and	and	CCONJ
fbem-23495	50	15	significant	significant	ADJ
fbem-23495	50	16	missing	missing	ADJ
fbem-23495	50	17	data	datum	NOUN
fbem-23495	50	18	for	for	ADP
fbem-23495	50	19	explanatory	explanatory	ADJ
fbem-23495	50	20	variables	variable	NOUN
fbem-23495	50	21	were	be	AUX
fbem-23495	50	22	excluded	exclude	VERB
fbem-23495	50	23	.	.	PUNCT
fbem-23495	51	1	ultimately	ultimately	ADV
fbem-23495	51	2	,	,	PUNCT
fbem-23495	51	3	a	a	DET
fbem-23495	51	4	total	total	NOUN
fbem-23495	51	5	of	of	ADP
fbem-23495	51	6	12,802	12,802	NUM
fbem-23495	51	7	valid	valid	ADJ
fbem-23495	51	8	sample	sample	NOUN
fbem-23495	51	9	data	datum	NOUN
fbem-23495	51	10	points	point	NOUN
fbem-23495	51	11	were	be	AUX
fbem-23495	51	12	obtained	obtain	VERB
fbem-23495	51	13	.	.	PUNCT
fbem-23495	52	1	to	to	PART
fbem-23495	52	2	mitigate	mitigate	VERB
fbem-23495	52	3	the	the	DET
fbem-23495	52	4	influence	influence	NOUN
fbem-23495	52	5	of	of	ADP
fbem-23495	52	6	outliers	outlier	NOUN
fbem-23495	52	7	on	on	ADP
fbem-23495	52	8	empirical	empirical	ADJ
fbem-23495	52	9	results	result	NOUN
fbem-23495	52	10	,	,	PUNCT
fbem-23495	52	11	some	some	DET
fbem-23495	52	12	variables	variable	NOUN
fbem-23495	52	13	underwent	undergo	VERB
fbem-23495	52	14	1	1	NUM
fbem-23495	52	15	%	%	NOUN
fbem-23495	52	16	winsorization	winsorization	NOUN
fbem-23495	52	17	.	.	PUNCT
fbem-23495	53	1	data	datum	NOUN
fbem-23495	53	2	processing	processing	NOUN
fbem-23495	53	3	and	and	CCONJ
fbem-23495	53	4	analysis	analysis	NOUN
fbem-23495	53	5	were	be	AUX
fbem-23495	53	6	conducted	conduct	VERB
fbem-23495	53	7	using	use	VERB
fbem-23495	53	8	stata	stata	NOUN
fbem-23495	53	9	17.0	17.0	NUM
fbem-23495	53	10	.	.	PUNCT
fbem-23495	54	1	4	4	NUM
fbem-23495	54	2	.	.	NOUN
fbem-23495	54	3	empirical	empirical	ADJ
fbem-23495	54	4	results	result	NOUN
fbem-23495	54	5	and	and	CCONJ
fbem-23495	54	6	analysis	analysis	NOUN
fbem-23495	54	7	4.1	4.1	NUM
fbem-23495	54	8	.	.	PUNCT
fbem-23495	55	1	descriptive	descriptive	ADJ
fbem-23495	55	2	statistics	statistic	NOUN
fbem-23495	55	3	of	of	ADP
fbem-23495	55	4	the	the	DET
fbem-23495	55	5	sample	sample	NOUN
fbem-23495	55	6	empirical	empirical	ADJ
fbem-23495	55	7	results	result	NOUN
fbem-23495	55	8	and	and	CCONJ
fbem-23495	55	9	analysis	analysis	NOUN
fbem-23495	55	10	(	(	PUNCT
fbem-23495	55	11	i	i	NOUN
fbem-23495	55	12	)	)	PUNCT
fbem-23495	55	13	descriptive	descriptive	ADJ
fbem-23495	55	14	statistics	statistic	NOUN
fbem-23495	55	15	of	of	ADP
fbem-23495	55	16	the	the	DET
fbem-23495	55	17	sample	sample	NOUN
fbem-23495	55	18	this	this	DET
fbem-23495	55	19	study	study	NOUN
fbem-23495	55	20	comprises	comprise	VERB
fbem-23495	55	21	12,802	12,802	NUM
fbem-23495	55	22	observed	observed	ADJ
fbem-23495	55	23	samples	sample	NOUN
fbem-23495	55	24	.	.	PUNCT
fbem-23495	56	1	the	the	DET
fbem-23495	56	2	table	table	NOUN
fbem-23495	56	3	2	2	NUM
fbem-23495	56	4	below	below	ADP
fbem-23495	56	5	presents	present	VERB
fbem-23495	56	6	the	the	DET
fbem-23495	56	7	statistical	statistical	ADJ
fbem-23495	56	8	results	result	NOUN
fbem-23495	56	9	of	of	ADP
fbem-23495	56	10	each	each	DET
fbem-23495	56	11	variable	variable	NOUN
fbem-23495	56	12	.	.	PUNCT
fbem-23495	57	1	table	table	NOUN
fbem-23495	57	2	2	2	NUM
fbem-23495	57	3	.	.	PUNCT
fbem-23495	57	4	descriptive	descriptive	ADJ
fbem-23495	57	5	statistics	statistic	NOUN
fbem-23495	57	6	results	result	NOUN
fbem-23495	57	7	.	.	PUNCT
fbem-23495	58	1	variable	variable	ADJ
fbem-23495	58	2	n	n	PRON
fbem-23495	58	3	mean	mean	VERB
fbem-23495	58	4	p50	p50	NOUN
fbem-23495	58	5	sd	sd	NOUN
fbem-23495	58	6	min	min	PROPN
fbem-23495	58	7	max	max	PROPN
fbem-23495	58	8	roe	roe	PROPN
fbem-23495	58	9	12802	12802	NUM
fbem-23495	58	10	2.205	2.205	NUM
fbem-23495	58	11	5.335	5.335	NUM
fbem-23495	58	12	63.52	63.52	NUM
fbem-23495	58	13	-5342	-5342	NUM
fbem-23495	58	14	139.8	139.8	NUM
fbem-23495	58	15	tax	tax	NOUN
fbem-23495	58	16	12802	12802	NUM
fbem-23495	58	17	0.582	0.582	NUM
fbem-23495	58	18	1	1	NUM
fbem-23495	58	19	0.493	0.493	NUM
fbem-23495	58	20	0	0	NUM
fbem-23495	58	21	1	1	NUM
fbem-23495	58	22	size	size	NOUN
fbem-23495	58	23	12802	12802	NUM
fbem-23495	58	24	10.82	10.82	NUM
fbem-23495	58	25	10.72	10.72	NUM
fbem-23495	58	26	1.032	1.032	NUM
fbem-23495	58	27	8.161	8.161	NUM
fbem-23495	58	28	16.72	16.72	NUM
fbem-23495	58	29	lev	lev	NOUN
fbem-23495	58	30	12802	12802	NUM
fbem-23495	58	31	42.70	42.70	NUM
fbem-23495	58	32	41.45	41.45	NUM
fbem-23495	58	33	21.55	21.55	NUM
fbem-23495	58	34	4.900	4.900	NUM
fbem-23495	58	35	90.39	90.39	NUM
fbem-23495	58	36	top1	top1	PROPN
fbem-23495	58	37	12802	12802	NUM
fbem-23495	58	38	35.18	35.18	NUM
fbem-23495	58	39	33.27	33.27	NUM
fbem-23495	58	40	15.24	15.24	NUM
fbem-23495	58	41	0.290	0.290	NUM
fbem-23495	58	42	89.99	89.99	NUM
fbem-23495	58	43	199	199	NUM
fbem-23495	58	44	based	base	VERB
fbem-23495	58	45	on	on	ADP
fbem-23495	58	46	the	the	DET
fbem-23495	58	47	table	table	NOUN
fbem-23495	58	48	above	above	ADV
fbem-23495	58	49	,	,	PUNCT
fbem-23495	58	50	the	the	DET
fbem-23495	58	51	sample	sample	NOUN
fbem-23495	58	52	consists	consist	VERB
fbem-23495	58	53	of	of	ADP
fbem-23495	58	54	12,802	12,802	NUM
fbem-23495	58	55	observations	observation	NOUN
fbem-23495	58	56	from	from	ADP
fbem-23495	58	57	a	a	DET
fbem-23495	58	58	-	-	PUNCT
fbem-23495	58	59	share	share	NOUN
fbem-23495	58	60	listed	list	VERB
fbem-23495	58	61	companies	company	NOUN
fbem-23495	58	62	during	during	ADP
fbem-23495	58	63	20122016	20122016	NUM
fbem-23495	58	64	.	.	PUNCT
fbem-23495	59	1	the	the	DET
fbem-23495	59	2	average	average	ADJ
fbem-23495	59	3	return	return	NOUN
fbem-23495	59	4	on	on	ADP
fbem-23495	59	5	equity	equity	NOUN
fbem-23495	59	6	(	(	PUNCT
fbem-23495	59	7	roe	roe	PROPN
fbem-23495	59	8	)	)	PUNCT
fbem-23495	59	9	is	be	AUX
fbem-23495	59	10	2.205	2.205	NUM
fbem-23495	59	11	,	,	PUNCT
fbem-23495	59	12	with	with	ADP
fbem-23495	59	13	a	a	DET
fbem-23495	59	14	maximum	maximum	NOUN
fbem-23495	59	15	of	of	ADP
fbem-23495	59	16	139.8	139.8	NUM
fbem-23495	59	17	and	and	CCONJ
fbem-23495	59	18	a	a	DET
fbem-23495	59	19	minimum	minimum	NOUN
fbem-23495	59	20	of	of	ADP
fbem-23495	59	21	-5342	-5342	PROPN
fbem-23495	59	22	,	,	PUNCT
fbem-23495	59	23	indicating	indicate	VERB
fbem-23495	59	24	significant	significant	ADJ
fbem-23495	59	25	variation	variation	NOUN
fbem-23495	59	26	in	in	ADP
fbem-23495	59	27	roe	roe	PROPN
fbem-23495	59	28	among	among	ADP
fbem-23495	59	29	companies	company	NOUN
fbem-23495	59	30	.	.	PUNCT
fbem-23495	60	1	given	give	VERB
fbem-23495	60	2	the	the	DET
fbem-23495	60	3	sample	sample	NOUN
fbem-23495	60	4	includes	include	VERB
fbem-23495	60	5	multiple	multiple	ADJ
fbem-23495	60	6	industries	industry	NOUN
fbem-23495	60	7	,	,	PUNCT
fbem-23495	60	8	these	these	DET
fbem-23495	60	9	differences	difference	NOUN
fbem-23495	60	10	may	may	AUX
fbem-23495	60	11	stem	stem	VERB
fbem-23495	60	12	from	from	ADP
fbem-23495	60	13	industry	industry	NOUN
fbem-23495	60	14	-	-	PUNCT
fbem-23495	60	15	specific	specific	ADJ
fbem-23495	60	16	factors	factor	NOUN
fbem-23495	60	17	influencing	influence	VERB
fbem-23495	60	18	roe	roe	NOUN
fbem-23495	60	19	disparity	disparity	NOUN
fbem-23495	60	20	.	.	PUNCT
fbem-23495	61	1	looking	look	VERB
fbem-23495	61	2	at	at	ADP
fbem-23495	61	3	the	the	DET
fbem-23495	61	4	control	control	NOUN
fbem-23495	61	5	variables	variable	NOUN
fbem-23495	61	6	,	,	PUNCT
fbem-23495	61	7	companies	company	NOUN
fbem-23495	61	8	in	in	ADP
fbem-23495	61	9	the	the	DET
fbem-23495	61	10	sample	sample	NOUN
fbem-23495	61	11	show	show	VERB
fbem-23495	61	12	similar	similar	ADJ
fbem-23495	61	13	sizes	size	NOUN
fbem-23495	61	14	(	(	PUNCT
fbem-23495	61	15	size	size	NOUN
fbem-23495	61	16	)	)	PUNCT
fbem-23495	61	17	,	,	PUNCT
fbem-23495	61	18	but	but	CCONJ
fbem-23495	61	19	substantial	substantial	ADJ
fbem-23495	61	20	variations	variation	NOUN
fbem-23495	61	21	in	in	ADP
fbem-23495	61	22	debtto	debtto	ADJ
fbem-23495	61	23	-	-	PUNCT
fbem-23495	61	24	asset	asset	NOUN
fbem-23495	61	25	ratios	ratio	NOUN
fbem-23495	61	26	(	(	PUNCT
fbem-23495	61	27	lev	lev	NOUN
fbem-23495	61	28	)	)	PUNCT
fbem-23495	61	29	.	.	PUNCT
fbem-23495	62	1	higher	high	ADJ
fbem-23495	62	2	lev	lev	NOUN
fbem-23495	62	3	indicates	indicate	VERB
fbem-23495	62	4	greater	great	ADJ
fbem-23495	62	5	financial	financial	ADJ
fbem-23495	62	6	risk	risk	NOUN
fbem-23495	62	7	for	for	ADP
fbem-23495	62	8	companies	company	NOUN
fbem-23495	62	9	.	.	PUNCT
fbem-23495	63	1	the	the	DET
fbem-23495	63	2	average	average	ADJ
fbem-23495	63	3	ownership	ownership	NOUN
fbem-23495	63	4	concentration	concentration	NOUN
fbem-23495	63	5	(	(	PUNCT
fbem-23495	63	6	top1	top1	PROPN
fbem-23495	63	7	)	)	PUNCT
fbem-23495	63	8	is	be	AUX
fbem-23495	63	9	35.18	35.18	NUM
fbem-23495	63	10	,	,	PUNCT
fbem-23495	63	11	ranging	range	VERB
fbem-23495	63	12	from	from	ADP
fbem-23495	63	13	0.290	0.290	NUM
fbem-23495	63	14	to	to	ADP
fbem-23495	63	15	89.99	89.99	NUM
fbem-23495	63	16	,	,	PUNCT
fbem-23495	63	17	highlighting	highlight	VERB
fbem-23495	63	18	considerable	considerable	ADJ
fbem-23495	63	19	diversity	diversity	NOUN
fbem-23495	63	20	in	in	ADP
fbem-23495	63	21	ownership	ownership	NOUN
fbem-23495	63	22	concentration	concentration	NOUN
fbem-23495	63	23	among	among	ADP
fbem-23495	63	24	firms	firm	NOUN
fbem-23495	63	25	.	.	PUNCT
fbem-23495	64	1	a	a	DET
fbem-23495	64	2	well	well	ADV
fbem-23495	64	3	-	-	PUNCT
fbem-23495	64	4	structured	structure	VERB
fbem-23495	64	5	ownership	ownership	NOUN
fbem-23495	64	6	can	can	AUX
fbem-23495	64	7	effectively	effectively	ADV
fbem-23495	64	8	mitigate	mitigate	VERB
fbem-23495	64	9	agency	agency	NOUN
fbem-23495	64	10	issues	issue	NOUN
fbem-23495	64	11	and	and	CCONJ
fbem-23495	64	12	enhance	enhance	VERB
fbem-23495	64	13	corporate	corporate	ADJ
fbem-23495	64	14	performance	performance	NOUN
fbem-23495	64	15	.	.	PUNCT
fbem-23495	65	1	4.2	4.2	NUM
fbem-23495	65	2	.	.	PUNCT
fbem-23495	66	1	variable	variable	ADJ
fbem-23495	66	2	correlation	correlation	NOUN
fbem-23495	66	3	analysis	analysis	NOUN
fbem-23495	66	4	to	to	PART
fbem-23495	66	5	mitigate	mitigate	VERB
fbem-23495	66	6	the	the	DET
fbem-23495	66	7	influence	influence	NOUN
fbem-23495	66	8	of	of	ADP
fbem-23495	66	9	multicollinearity	multicollinearity	NOUN
fbem-23495	66	10	,	,	PUNCT
fbem-23495	66	11	the	the	DET
fbem-23495	66	12	study	study	NOUN
fbem-23495	66	13	conducted	conduct	VERB
fbem-23495	66	14	a	a	DET
fbem-23495	66	15	correlation	correlation	NOUN
fbem-23495	66	16	analysis	analysis	NOUN
fbem-23495	66	17	of	of	ADP
fbem-23495	66	18	the	the	DET
fbem-23495	66	19	variables	variable	NOUN
fbem-23495	66	20	,	,	PUNCT
fbem-23495	66	21	with	with	ADP
fbem-23495	66	22	results	result	NOUN
fbem-23495	66	23	presented	present	VERB
fbem-23495	66	24	in	in	ADP
fbem-23495	66	25	table	table	NOUN
fbem-23495	66	26	3	3	NUM
fbem-23495	66	27	.	.	PUNCT
fbem-23495	66	28	table	table	NOUN
fbem-23495	66	29	3	3	NUM
fbem-23495	66	30	.	.	PUNCT
fbem-23495	66	31	correlation	correlation	NOUN
fbem-23495	66	32	analysis	analysis	NOUN
fbem-23495	66	33	results	result	VERB
fbem-23495	66	34	roe	roe	PROPN
fbem-23495	66	35	tax	tax	NOUN
fbem-23495	66	36	size	size	NOUN
fbem-23495	66	37	lev	lev	PROPN
fbem-23495	66	38	top1	top1	PROPN
fbem-23495	66	39	roe	roe	PROPN
fbem-23495	66	40	1	1	NUM
fbem-23495	66	41	tax	tax	NOUN
fbem-23495	66	42	0.046	0.046	NUM
fbem-23495	66	43	*	*	NOUN
fbem-23495	66	44	*	*	PUNCT
fbem-23495	66	45	*	*	PUNCT
fbem-23495	66	46	1	1	NUM
fbem-23495	66	47	size	size	NOUN
fbem-23495	66	48	0.0130	0.0130	NUM
fbem-23495	66	49	-0.290	-0.290	PUNCT
fbem-23495	66	50	*	*	PUNCT
fbem-23495	66	51	*	*	PUNCT
fbem-23495	66	52	*	*	SYM
fbem-23495	66	53	1	1	NUM
fbem-23495	66	54	lev	lev	NOUN
fbem-23495	66	55	-0.124	-0.124	PROPN
fbem-23495	66	56	*	*	PUNCT
fbem-23495	66	57	*	*	PUNCT
fbem-23495	66	58	*	*	PUNCT
fbem-23495	66	59	-0.308	-0.308	PUNCT
fbem-23495	66	60	*	*	PUNCT
fbem-23495	66	61	*	*	PUNCT
fbem-23495	66	62	*	*	PUNCT
fbem-23495	66	63	0.357	0.357	NUM
fbem-23495	66	64	*	*	PUNCT
fbem-23495	66	65	*	*	PUNCT
fbem-23495	66	66	*	*	PUNCT
fbem-23495	66	67	1	1	NUM
fbem-23495	66	68	top1	top1	PROPN
fbem-23495	66	69	0.045	0.045	NUM
fbem-23495	66	70	*	*	PUNCT
fbem-23495	66	71	*	*	PUNCT
fbem-23495	66	72	*	*	PUNCT
fbem-23495	67	1	-0.075	-0.075	PUNCT
fbem-23495	67	2	*	*	PUNCT
fbem-23495	67	3	*	*	PUNCT
fbem-23495	67	4	*	*	PUNCT
fbem-23495	67	5	0.177	0.177	NUM
fbem-23495	67	6	*	*	PUNCT
fbem-23495	67	7	*	*	PUNCT
fbem-23495	67	8	*	*	PUNCT
fbem-23495	67	9	0.063	0.063	NUM
fbem-23495	67	10	*	*	PUNCT
fbem-23495	67	11	*	*	PUNCT
fbem-23495	67	12	*	*	SYM
fbem-23495	67	13	1	1	NUM
fbem-23495	67	14	note	note	NOUN
fbem-23495	67	15	:	:	PUNCT
fbem-23495	67	16	*	*	PUNCT
fbem-23495	67	17	*	*	PUNCT
fbem-23495	67	18	*	*	PUNCT
fbem-23495	67	19	,	,	PUNCT
fbem-23495	67	20	*	*	PUNCT
fbem-23495	67	21	*	*	PUNCT
fbem-23495	67	22	,	,	PUNCT
fbem-23495	67	23	and	and	CCONJ
fbem-23495	67	24	*	*	PUNCT
fbem-23495	67	25	indicate	indicate	VERB
fbem-23495	67	26	significance	significance	NOUN
fbem-23495	67	27	at	at	ADP
fbem-23495	67	28	the	the	DET
fbem-23495	67	29	1	1	NUM
fbem-23495	67	30	%	%	NOUN
fbem-23495	67	31	,	,	PUNCT
fbem-23495	67	32	5	5	NUM
fbem-23495	67	33	%	%	NOUN
fbem-23495	67	34	,	,	PUNCT
fbem-23495	67	35	and	and	CCONJ
fbem-23495	67	36	10	10	NUM
fbem-23495	67	37	%	%	NOUN
fbem-23495	67	38	levels	level	NOUN
fbem-23495	67	39	,	,	PUNCT
fbem-23495	67	40	respectively	respectively	ADV
fbem-23495	67	41	.	.	PUNCT
fbem-23495	68	1	according	accord	VERB
fbem-23495	68	2	to	to	ADP
fbem-23495	68	3	the	the	DET
fbem-23495	68	4	results	result	NOUN
fbem-23495	68	5	in	in	ADP
fbem-23495	68	6	the	the	DET
fbem-23495	68	7	table	table	NOUN
fbem-23495	68	8	above	above	ADV
fbem-23495	68	9	,	,	PUNCT
fbem-23495	68	10	the	the	DET
fbem-23495	68	11	correlation	correlation	NOUN
fbem-23495	68	12	coefficients	coefficient	VERB
fbem-23495	68	13	among	among	ADP
fbem-23495	68	14	variables	variable	NOUN
fbem-23495	68	15	are	be	AUX
fbem-23495	68	16	all	all	ADV
fbem-23495	68	17	below	below	ADP
fbem-23495	68	18	0.5	0.5	NUM
fbem-23495	68	19	,	,	PUNCT
fbem-23495	68	20	indicating	indicate	VERB
fbem-23495	68	21	weak	weak	ADJ
fbem-23495	68	22	correlations	correlation	NOUN
fbem-23495	68	23	.	.	PUNCT
fbem-23495	69	1	there	there	PRON
fbem-23495	69	2	is	be	VERB
fbem-23495	69	3	a	a	DET
fbem-23495	69	4	positive	positive	ADJ
fbem-23495	69	5	and	and	CCONJ
fbem-23495	69	6	significant	significant	ADJ
fbem-23495	69	7	correlation	correlation	NOUN
fbem-23495	69	8	between	between	ADP
fbem-23495	69	9	tax	tax	NOUN
fbem-23495	69	10	incentives	incentive	NOUN
fbem-23495	69	11	(	(	PUNCT
fbem-23495	69	12	tax	tax	NOUN
fbem-23495	69	13	)	)	PUNCT
fbem-23495	69	14	and	and	CCONJ
fbem-23495	69	15	return	return	VERB
fbem-23495	69	16	on	on	ADP
fbem-23495	69	17	equity	equity	NOUN
fbem-23495	69	18	(	(	PUNCT
fbem-23495	69	19	roe	roe	PROPN
fbem-23495	69	20	)	)	PUNCT
fbem-23495	69	21	at	at	ADP
fbem-23495	69	22	the	the	DET
fbem-23495	69	23	1	1	NUM
fbem-23495	69	24	%	%	NOUN
fbem-23495	69	25	level	level	NOUN
fbem-23495	69	26	,	,	PUNCT
fbem-23495	69	27	thereby	thereby	ADV
fbem-23495	69	28	providing	provide	VERB
fbem-23495	69	29	preliminary	preliminary	ADJ
fbem-23495	69	30	support	support	NOUN
fbem-23495	69	31	for	for	ADP
fbem-23495	69	32	the	the	DET
fbem-23495	69	33	hypothesis	hypothesis	NOUN
fbem-23495	69	34	in	in	ADP
fbem-23495	69	35	this	this	DET
fbem-23495	69	36	study	study	NOUN
fbem-23495	69	37	.	.	PUNCT
fbem-23495	70	1	the	the	DET
fbem-23495	70	2	following	follow	VERB
fbem-23495	70	3	sections	section	NOUN
fbem-23495	70	4	will	will	AUX
fbem-23495	70	5	further	far	ADV
fbem-23495	70	6	examine	examine	VERB
fbem-23495	70	7	the	the	DET
fbem-23495	70	8	presence	presence	NOUN
fbem-23495	70	9	of	of	ADP
fbem-23495	70	10	multicollinearity	multicollinearity	NOUN
fbem-23495	70	11	among	among	ADP
fbem-23495	70	12	variables	variable	NOUN
fbem-23495	70	13	using	use	VERB
fbem-23495	70	14	variance	variance	NOUN
fbem-23495	70	15	inflation	inflation	NOUN
fbem-23495	70	16	factor	factor	NOUN
fbem-23495	70	17	(	(	PUNCT
fbem-23495	70	18	vif	vif	NOUN
fbem-23495	70	19	)	)	PUNCT
fbem-23495	70	20	analysis	analysis	NOUN
fbem-23495	70	21	.	.	PUNCT
fbem-23495	71	1	the	the	DET
fbem-23495	71	2	analysis	analysis	NOUN
fbem-23495	71	3	results	result	VERB
fbem-23495	71	4	for	for	ADP
fbem-23495	71	5	each	each	DET
fbem-23495	71	6	explanatory	explanatory	ADJ
fbem-23495	71	7	variable	variable	NOUN
fbem-23495	71	8	are	be	AUX
fbem-23495	71	9	presented	present	VERB
fbem-23495	71	10	in	in	ADP
fbem-23495	71	11	table	table	NOUN
fbem-23495	71	12	4	4	NUM
fbem-23495	71	13	.	.	PUNCT
fbem-23495	71	14	table	table	NOUN
fbem-23495	71	15	4	4	NUM
fbem-23495	71	16	.	.	PUNCT
fbem-23495	72	1	vif	vif	NOUN
fbem-23495	72	2	results	result	VERB
fbem-23495	72	3	variable	variable	ADJ
fbem-23495	72	4	vif	vif	NOUN
fbem-23495	72	5	1	1	NUM
fbem-23495	72	6	/	/	SYM
fbem-23495	72	7	vif	vif	NOUN
fbem-23495	72	8	tax	tax	NOUN
fbem-23495	72	9	1.150	1.150	NUM
fbem-23495	72	10	0.866	0.866	NUM
fbem-23495	72	11	size	size	NOUN
fbem-23495	72	12	1.270	1.270	NUM
fbem-23495	72	13	0.788	0.788	NUM
fbem-23495	72	14	lev	lev	NOUN
fbem-23495	72	15	1.220	1.220	NUM
fbem-23495	72	16	0.820	0.820	NUM
fbem-23495	72	17	top1	top1	PROPN
fbem-23495	72	18	1.040	1.040	NUM
fbem-23495	72	19	0.959	0.959	NUM
fbem-23495	72	20	mean	mean	NOUN
fbem-23495	72	21	vif	vif	NOUN
fbem-23495	72	22	1.440	1.440	NUM
fbem-23495	72	23	according	accord	VERB
fbem-23495	72	24	to	to	ADP
fbem-23495	72	25	the	the	DET
fbem-23495	72	26	results	result	NOUN
fbem-23495	72	27	in	in	ADP
fbem-23495	72	28	the	the	DET
fbem-23495	72	29	table	table	NOUN
fbem-23495	72	30	above	above	ADV
fbem-23495	72	31	,	,	PUNCT
fbem-23495	72	32	the	the	DET
fbem-23495	72	33	vif	vif	NOUN
fbem-23495	72	34	values	value	NOUN
fbem-23495	72	35	for	for	ADP
fbem-23495	72	36	all	all	DET
fbem-23495	72	37	variables	variable	NOUN
fbem-23495	72	38	are	be	AUX
fbem-23495	72	39	below	below	ADP
fbem-23495	72	40	10	10	NUM
fbem-23495	72	41	,	,	PUNCT
fbem-23495	72	42	indicating	indicate	VERB
fbem-23495	72	43	that	that	SCONJ
fbem-23495	72	44	there	there	PRON
fbem-23495	72	45	is	be	VERB
fbem-23495	72	46	no	no	DET
fbem-23495	72	47	multicollinearity	multicollinearity	NOUN
fbem-23495	72	48	among	among	ADP
fbem-23495	72	49	the	the	DET
fbem-23495	72	50	variables	variable	NOUN
fbem-23495	72	51	.	.	PUNCT
fbem-23495	73	1	therefore	therefore	ADV
fbem-23495	73	2	,	,	PUNCT
fbem-23495	73	3	regression	regression	VERB
fbem-23495	73	4	analysis	analysis	NOUN
fbem-23495	73	5	can	can	AUX
fbem-23495	73	6	proceed	proceed	VERB
fbem-23495	73	7	.	.	PUNCT
fbem-23495	74	1	4.3	4.3	NUM
fbem-23495	74	2	.	.	PUNCT
fbem-23495	75	1	regression	regression	NOUN
fbem-23495	75	2	results	result	NOUN
fbem-23495	75	3	and	and	CCONJ
fbem-23495	75	4	analysis	analysis	NOUN
fbem-23495	75	5	4.3.1	4.3.1	NUM
fbem-23495	75	6	.	.	PUNCT
fbem-23495	76	1	empirical	empirical	ADJ
fbem-23495	76	2	results	result	NOUN
fbem-23495	76	3	using	use	VERB
fbem-23495	76	4	processed	process	VERB
fbem-23495	76	5	panel	panel	NOUN
fbem-23495	76	6	data	datum	NOUN
fbem-23495	76	7	spanning	span	VERB
fbem-23495	76	8	from	from	ADP
fbem-23495	76	9	2012	2012	NUM
fbem-23495	76	10	to	to	ADP
fbem-23495	76	11	2016	2016	NUM
fbem-23495	76	12	,	,	PUNCT
fbem-23495	76	13	totaling	total	VERB
fbem-23495	76	14	12,802	12,802	NUM
fbem-23495	76	15	observations	observation	NOUN
fbem-23495	76	16	,	,	PUNCT
fbem-23495	76	17	a	a	DET
fbem-23495	76	18	multiple	multiple	ADJ
fbem-23495	76	19	regression	regression	NOUN
fbem-23495	76	20	analysis	analysis	NOUN
fbem-23495	76	21	was	be	AUX
fbem-23495	76	22	conducted	conduct	VERB
fbem-23495	76	23	using	use	VERB
fbem-23495	76	24	stata	stata	NOUN
fbem-23495	76	25	17.0	17.0	NUM
fbem-23495	76	26	to	to	PART
fbem-23495	76	27	examine	examine	VERB
fbem-23495	76	28	the	the	DET
fbem-23495	76	29	impact	impact	NOUN
fbem-23495	76	30	of	of	ADP
fbem-23495	76	31	tax	tax	NOUN
fbem-23495	76	32	incentives	incentive	NOUN
fbem-23495	76	33	on	on	ADP
fbem-23495	76	34	corporate	corporate	ADJ
fbem-23495	76	35	financial	financial	ADJ
fbem-23495	76	36	performance	performance	NOUN
fbem-23495	76	37	.	.	PUNCT
fbem-23495	77	1	the	the	DET
fbem-23495	77	2	estimated	estimate	VERB
fbem-23495	77	3	results	result	NOUN
fbem-23495	77	4	are	be	AUX
fbem-23495	77	5	presented	present	VERB
fbem-23495	77	6	in	in	ADP
fbem-23495	77	7	table	table	NOUN
fbem-23495	77	8	5	5	NUM
fbem-23495	77	9	.	.	PUNCT
fbem-23495	77	10	table	table	NOUN
fbem-23495	77	11	5	5	NUM
fbem-23495	77	12	.	.	PUNCT
fbem-23495	78	1	empirical	empirical	ADJ
fbem-23495	78	2	results	result	NOUN
fbem-23495	78	3	analysis	analysis	NOUN
fbem-23495	78	4	(	(	PUNCT
fbem-23495	78	5	1	1	X
fbem-23495	78	6	)	)	PUNCT
fbem-23495	78	7	variables	variable	NOUN
fbem-23495	78	8	roe	roe	PROPN
fbem-23495	78	9	tax	tax	PROPN
fbem-23495	78	10	3.166	3.166	NUM
fbem-23495	78	11	*	*	PUNCT
fbem-23495	78	12	*	*	PUNCT
fbem-23495	78	13	*	*	PUNCT
fbem-23495	78	14	(	(	PUNCT
fbem-23495	78	15	2.83	2.83	NUM
fbem-23495	78	16	)	)	PUNCT
fbem-23495	78	17	size	size	NOUN
fbem-23495	78	18	4.121	4.121	NUM
fbem-23495	78	19	*	*	PUNCT
fbem-23495	78	20	*	*	PUNCT
fbem-23495	78	21	*	*	PUNCT
fbem-23495	78	22	(	(	PUNCT
fbem-23495	78	23	4.41	4.41	NUM
fbem-23495	78	24	)	)	PUNCT
fbem-23495	78	25	lev	lev	NOUN
fbem-23495	78	26	-0.422	-0.422	NOUN
fbem-23495	78	27	*	*	PUNCT
fbem-23495	78	28	*	*	PUNCT
fbem-23495	78	29	*	*	PUNCT
fbem-23495	78	30	(	(	PUNCT
fbem-23495	78	31	-6.35	-6.35	NOUN
fbem-23495	78	32	)	)	PUNCT
fbem-23495	78	33	top1	top1	PROPN
fbem-23495	78	34	0.178	0.178	NUM
fbem-23495	78	35	*	*	PUNCT
fbem-23495	78	36	*	*	PUNCT
fbem-23495	78	37	*	*	PUNCT
fbem-23495	78	38	(	(	PUNCT
fbem-23495	78	39	6.30	6.30	NUM
fbem-23495	78	40	)	)	PUNCT
fbem-23495	78	41	constant	constant	ADJ
fbem-23495	78	42	-29.881	-29.881	PROPN
fbem-23495	78	43	*	*	PUNCT
fbem-23495	78	44	*	*	PUNCT
fbem-23495	78	45	*	*	PUNCT
fbem-23495	78	46	(	(	PUNCT
fbem-23495	78	47	-3.47	-3.47	NUM
fbem-23495	78	48	)	)	PUNCT
fbem-23495	78	49	observations	observation	NOUN
fbem-23495	78	50	12,802	12,802	NUM
fbem-23495	78	51	r	r	NOUN
fbem-23495	78	52	-	-	PUNCT
fbem-23495	78	53	squared	square	VERB
fbem-23495	78	54	0.023	0.023	NUM
fbem-23495	78	55	f	f	PROPN
fbem-23495	78	56	test	test	NOUN
fbem-23495	78	57	0	0	NUM
fbem-23495	79	1	r2_a	r2_a	NOUN
fbem-23495	79	2	0.0219	0.0219	NUM
fbem-23495	79	3	f	f	SYM
fbem-23495	79	4	15.68	15.68	NUM
fbem-23495	79	5	based	base	VERB
fbem-23495	79	6	on	on	ADP
fbem-23495	79	7	the	the	DET
fbem-23495	79	8	empirical	empirical	ADJ
fbem-23495	79	9	results	result	NOUN
fbem-23495	79	10	from	from	ADP
fbem-23495	79	11	the	the	DET
fbem-23495	79	12	table	table	NOUN
fbem-23495	79	13	above	above	ADV
fbem-23495	79	14	,	,	PUNCT
fbem-23495	79	15	the	the	DET
fbem-23495	79	16	regression	regression	NOUN
fbem-23495	79	17	coefficient	coefficient	NOUN
fbem-23495	79	18	between	between	ADP
fbem-23495	79	19	tax	tax	NOUN
fbem-23495	79	20	incentives	incentive	NOUN
fbem-23495	79	21	(	(	PUNCT
fbem-23495	79	22	tax	tax	NOUN
fbem-23495	79	23	)	)	PUNCT
fbem-23495	79	24	and	and	CCONJ
fbem-23495	79	25	return	return	VERB
fbem-23495	79	26	on	on	ADP
fbem-23495	79	27	equity	equity	NOUN
fbem-23495	79	28	(	(	PUNCT
fbem-23495	79	29	roe	roe	PROPN
fbem-23495	79	30	)	)	PUNCT
fbem-23495	79	31	is	be	AUX
fbem-23495	79	32	3.166	3.166	NUM
fbem-23495	79	33	,	,	PUNCT
fbem-23495	79	34	significant	significant	ADJ
fbem-23495	79	35	at	at	ADP
fbem-23495	79	36	the	the	DET
fbem-23495	79	37	1	1	NUM
fbem-23495	79	38	%	%	NOUN
fbem-23495	79	39	level	level	NOUN
fbem-23495	79	40	.	.	PUNCT
fbem-23495	80	1	this	this	PRON
fbem-23495	80	2	indicates	indicate	VERB
fbem-23495	80	3	that	that	SCONJ
fbem-23495	80	4	holding	hold	VERB
fbem-23495	80	5	other	other	ADJ
fbem-23495	80	6	factors	factor	NOUN
fbem-23495	80	7	constant	constant	ADJ
fbem-23495	80	8	,	,	PUNCT
fbem-23495	80	9	if	if	SCONJ
fbem-23495	80	10	a	a	DET
fbem-23495	80	11	company	company	NOUN
fbem-23495	80	12	benefits	benefit	VERB
fbem-23495	80	13	from	from	ADP
fbem-23495	80	14	tax	tax	NOUN
fbem-23495	80	15	incentives	incentive	NOUN
fbem-23495	80	16	(	(	PUNCT
fbem-23495	80	17	where	where	SCONJ
fbem-23495	80	18	tax	tax	NOUN
fbem-23495	80	19	equals	equal	VERB
fbem-23495	80	20	1	1	NUM
fbem-23495	80	21	)	)	PUNCT
fbem-23495	80	22	,	,	PUNCT
fbem-23495	80	23	its	its	PRON
fbem-23495	80	24	roe	roe	NOUN
fbem-23495	80	25	increases	increase	VERB
fbem-23495	80	26	by	by	ADP
fbem-23495	80	27	3.166	3.166	NUM
fbem-23495	80	28	units	unit	NOUN
fbem-23495	80	29	.	.	PUNCT
fbem-23495	81	1	this	this	DET
fbem-23495	81	2	finding	finding	NOUN
fbem-23495	81	3	suggests	suggest	VERB
fbem-23495	81	4	that	that	SCONJ
fbem-23495	81	5	tax	tax	NOUN
fbem-23495	81	6	incentives	incentive	NOUN
fbem-23495	81	7	significantly	significantly	ADV
fbem-23495	81	8	enhance	enhance	VERB
fbem-23495	81	9	corporate	corporate	ADJ
fbem-23495	81	10	financial	financial	ADJ
fbem-23495	81	11	performance	performance	NOUN
fbem-23495	81	12	,	,	PUNCT
fbem-23495	81	13	supporting	support	VERB
fbem-23495	81	14	the	the	DET
fbem-23495	81	15	hypothesis	hypothesis	NOUN
fbem-23495	81	16	.	.	PUNCT
fbem-23495	82	1	furthermore	furthermore	ADV
fbem-23495	82	2	,	,	PUNCT
fbem-23495	82	3	the	the	DET
fbem-23495	82	4	coefficient	coefficient	NOUN
fbem-23495	82	5	for	for	ADP
fbem-23495	82	6	size	size	NOUN
fbem-23495	82	7	on	on	ADP
fbem-23495	82	8	roe	roe	PROPN
fbem-23495	82	9	is	be	AUX
fbem-23495	82	10	4.121	4.121	NUM
fbem-23495	82	11	,	,	PUNCT
fbem-23495	82	12	significant	significant	ADJ
fbem-23495	82	13	at	at	ADP
fbem-23495	82	14	the	the	DET
fbem-23495	82	15	1	1	NUM
fbem-23495	82	16	%	%	NOUN
fbem-23495	82	17	level	level	NOUN
fbem-23495	82	18	,	,	PUNCT
fbem-23495	82	19	indicating	indicate	VERB
fbem-23495	82	20	that	that	SCONJ
fbem-23495	82	21	holding	hold	VERB
fbem-23495	82	22	other	other	ADJ
fbem-23495	82	23	factors	factor	NOUN
fbem-23495	82	24	constant	constant	ADJ
fbem-23495	82	25	,	,	PUNCT
fbem-23495	82	26	a	a	DET
fbem-23495	82	27	one	one	NUM
fbem-23495	82	28	-	-	PUNCT
fbem-23495	82	29	unit	unit	NOUN
fbem-23495	82	30	increase	increase	NOUN
fbem-23495	82	31	in	in	ADP
fbem-23495	82	32	enterprise	enterprise	NOUN
fbem-23495	82	33	size	size	NOUN
fbem-23495	82	34	results	result	NOUN
fbem-23495	82	35	in	in	ADP
fbem-23495	82	36	a	a	DET
fbem-23495	82	37	4.121	4.121	NUM
fbem-23495	82	38	unit	unit	NOUN
fbem-23495	82	39	increase	increase	NOUN
fbem-23495	82	40	in	in	ADP
fbem-23495	82	41	roe	roe	NOUN
fbem-23495	82	42	.	.	PUNCT
fbem-23495	83	1	similarly	similarly	ADV
fbem-23495	83	2	,	,	PUNCT
fbem-23495	83	3	there	there	PRON
fbem-23495	83	4	is	be	VERB
fbem-23495	83	5	a	a	DET
fbem-23495	83	6	significant	significant	ADJ
fbem-23495	83	7	positive	positive	ADJ
fbem-23495	83	8	correlation	correlation	NOUN
fbem-23495	83	9	between	between	ADP
fbem-23495	83	10	ownership	ownership	NOUN
fbem-23495	83	11	concentration	concentration	NOUN
fbem-23495	83	12	(	(	PUNCT
fbem-23495	83	13	top1	top1	PROPN
fbem-23495	83	14	)	)	PUNCT
fbem-23495	83	15	and	and	CCONJ
fbem-23495	83	16	roe	roe	NOUN
fbem-23495	83	17	.	.	PUNCT
fbem-23495	84	1	on	on	ADP
fbem-23495	84	2	the	the	DET
fbem-23495	84	3	other	other	ADJ
fbem-23495	84	4	hand	hand	NOUN
fbem-23495	84	5	,	,	PUNCT
fbem-23495	84	6	the	the	DET
fbem-23495	84	7	relationship	relationship	NOUN
fbem-23495	84	8	between	between	ADP
fbem-23495	84	9	debt	debt	NOUN
fbem-23495	84	10	-	-	PUNCT
fbem-23495	84	11	to	to	ADP
fbem-23495	84	12	-	-	PUNCT
fbem-23495	84	13	asset	asset	NOUN
fbem-23495	84	14	ratio	ratio	NOUN
fbem-23495	84	15	(	(	PUNCT
fbem-23495	84	16	lev	lev	NOUN
fbem-23495	84	17	)	)	PUNCT
fbem-23495	84	18	and	and	CCONJ
fbem-23495	84	19	roe	roe	NOUN
fbem-23495	84	20	is	be	AUX
fbem-23495	84	21	significantly	significantly	ADV
fbem-23495	84	22	negative	negative	ADJ
fbem-23495	84	23	,	,	PUNCT
fbem-23495	84	24	indicating	indicate	VERB
fbem-23495	84	25	that	that	SCONJ
fbem-23495	84	26	higher	high	ADJ
fbem-23495	84	27	leverage	leverage	NOUN
fbem-23495	84	28	leads	lead	VERB
fbem-23495	84	29	to	to	ADP
fbem-23495	84	30	lower	low	ADJ
fbem-23495	84	31	roe	roe	NOUN
fbem-23495	84	32	for	for	ADP
fbem-23495	84	33	companies	company	NOUN
fbem-23495	84	34	.	.	PUNCT
fbem-23495	85	1	4.3.2	4.3.2	X
fbem-23495	85	2	.	.	PUNCT
fbem-23495	86	1	heterogeneity	heterogeneity	NOUN
fbem-23495	86	2	analysis	analysis	NOUN
fbem-23495	86	3	according	accord	VERB
fbem-23495	86	4	to	to	ADP
fbem-23495	86	5	the	the	DET
fbem-23495	86	6	china	china	PROPN
fbem-23495	86	7	securities	securities	PROPN
fbem-23495	86	8	regulatory	regulatory	PROPN
fbem-23495	86	9	commission	commission	PROPN
fbem-23495	86	10	's	's	PART
fbem-23495	86	11	industry	industry	NOUN
fbem-23495	86	12	classification	classification	NOUN
fbem-23495	86	13	,	,	PUNCT
fbem-23495	86	14	china	china	PROPN
fbem-23495	86	15	's	's	PART
fbem-23495	86	16	industries	industry	NOUN
fbem-23495	86	17	are	be	AUX
fbem-23495	86	18	roughly	roughly	ADV
fbem-23495	86	19	categorized	categorize	VERB
fbem-23495	86	20	into	into	ADP
fbem-23495	86	21	19	19	NUM
fbem-23495	86	22	major	major	ADJ
fbem-23495	86	23	sectors	sector	NOUN
fbem-23495	86	24	.	.	PUNCT
fbem-23495	87	1	due	due	ADP
fbem-23495	87	2	to	to	ADP
fbem-23495	87	3	differences	difference	NOUN
fbem-23495	87	4	in	in	ADP
fbem-23495	87	5	industry	industry	NOUN
fbem-23495	87	6	nature	nature	NOUN
fbem-23495	87	7	and	and	CCONJ
fbem-23495	87	8	development	development	NOUN
fbem-23495	87	9	levels	level	NOUN
fbem-23495	87	10	,	,	PUNCT
fbem-23495	87	11	the	the	DET
fbem-23495	87	12	impact	impact	NOUN
fbem-23495	87	13	of	of	ADP
fbem-23495	87	14	tax	tax	NOUN
fbem-23495	87	15	200	200	NUM
fbem-23495	87	16	incentives	incentive	NOUN
fbem-23495	87	17	on	on	ADP
fbem-23495	87	18	corporate	corporate	ADJ
fbem-23495	87	19	financial	financial	ADJ
fbem-23495	87	20	performance	performance	NOUN
fbem-23495	87	21	varies	vary	VERB
fbem-23495	87	22	significantly	significantly	ADV
fbem-23495	87	23	across	across	ADP
fbem-23495	87	24	industries	industry	NOUN
fbem-23495	87	25	.	.	PUNCT
fbem-23495	88	1	for	for	ADP
fbem-23495	88	2	instance	instance	NOUN
fbem-23495	88	3	,	,	PUNCT
fbem-23495	88	4	industries	industry	NOUN
fbem-23495	88	5	like	like	ADP
fbem-23495	88	6	agriculture	agriculture	NOUN
fbem-23495	88	7	,	,	PUNCT
fbem-23495	88	8	forestry	forestry	NOUN
fbem-23495	88	9	,	,	PUNCT
fbem-23495	88	10	animal	animal	NOUN
fbem-23495	88	11	husbandry	husbandry	NOUN
fbem-23495	88	12	,	,	PUNCT
fbem-23495	88	13	and	and	CCONJ
fbem-23495	88	14	fisheries	fishery	NOUN
fbem-23495	88	15	are	be	AUX
fbem-23495	88	16	considered	consider	VERB
fbem-23495	88	17	basic	basic	ADJ
fbem-23495	88	18	industries	industry	NOUN
fbem-23495	88	19	with	with	ADP
fbem-23495	88	20	longer	long	ADJ
fbem-23495	88	21	profit	profit	NOUN
fbem-23495	88	22	cycles	cycle	NOUN
fbem-23495	88	23	,	,	PUNCT
fbem-23495	88	24	and	and	CCONJ
fbem-23495	88	25	thus	thus	ADV
fbem-23495	88	26	enjoy	enjoy	VERB
fbem-23495	88	27	substantial	substantial	ADJ
fbem-23495	88	28	tax	tax	NOUN
fbem-23495	88	29	incentives	incentive	NOUN
fbem-23495	88	30	tailored	tailor	VERB
fbem-23495	88	31	to	to	ADP
fbem-23495	88	32	their	their	PRON
fbem-23495	88	33	industry	industry	NOUN
fbem-23495	88	34	characteristics	characteristic	NOUN
fbem-23495	88	35	.	.	PUNCT
fbem-23495	88	36	table	table	NOUN
fbem-23495	88	37	6	6	NUM
fbem-23495	88	38	.	.	PUNCT
fbem-23495	88	39	industry	industry	NOUN
fbem-23495	88	40	-	-	PUNCT
fbem-23495	88	41	specific	specific	ADJ
fbem-23495	88	42	regression	regression	NOUN
fbem-23495	88	43	results	result	VERB
fbem-23495	88	44	roe	roe	PROPN
fbem-23495	88	45	tax	tax	NOUN
fbem-23495	88	46	all	all	DET
fbem-23495	88	47	industries	industry	NOUN
fbem-23495	88	48	3.057	3.057	NUM
fbem-23495	88	49	*	*	SYM
fbem-23495	88	50	*	*	PUNCT
fbem-23495	88	51	(	(	PUNCT
fbem-23495	88	52	1.226	1.226	NUM
fbem-23495	88	53	)	)	PUNCT
fbem-23495	88	54	mining	mining	NOUN
fbem-23495	88	55	-8.110	-8.110	PUNCT
fbem-23495	88	56	(	(	PUNCT
fbem-23495	88	57	5.103	5.103	NUM
fbem-23495	88	58	)	)	PUNCT
fbem-23495	88	59	electricity	electricity	NOUN
fbem-23495	88	60	,	,	PUNCT
fbem-23495	88	61	heat	heat	NOUN
fbem-23495	88	62	,	,	PUNCT
fbem-23495	88	63	gas	gas	NOUN
fbem-23495	88	64	and	and	CCONJ
fbem-23495	88	65	water	water	NOUN
fbem-23495	88	66	production	production	NOUN
fbem-23495	88	67	and	and	CCONJ
fbem-23495	88	68	supply	supply	NOUN
fbem-23495	88	69	2.212	2.212	NUM
fbem-23495	88	70	(	(	PUNCT
fbem-23495	88	71	2.940	2.940	NUM
fbem-23495	88	72	)	)	PUNCT
fbem-23495	88	73	real	real	ADJ
fbem-23495	88	74	estate	estate	NOUN
fbem-23495	88	75	-5.905	-5.905	PROPN
fbem-23495	88	76	*	*	PUNCT
fbem-23495	88	77	(	(	PUNCT
fbem-23495	88	78	3.137	3.137	NUM
fbem-23495	88	79	)	)	PUNCT
fbem-23495	88	80	construction	construction	NOUN
fbem-23495	88	81	3.946	3.946	NUM
fbem-23495	88	82	*	*	SYM
fbem-23495	88	83	*	*	PUNCT
fbem-23495	88	84	(	(	PUNCT
fbem-23495	88	85	1.989	1.989	NUM
fbem-23495	88	86	)	)	PUNCT
fbem-23495	88	87	transportation	transportation	NOUN
fbem-23495	88	88	,	,	PUNCT
fbem-23495	88	89	warehousing	warehousing	NOUN
fbem-23495	88	90	and	and	CCONJ
fbem-23495	88	91	postal	postal	ADJ
fbem-23495	88	92	services	service	NOUN
fbem-23495	88	93	-0.624	-0.624	PUNCT
fbem-23495	88	94	(	(	PUNCT
fbem-23495	88	95	2.335	2.335	NUM
fbem-23495	88	96	)	)	PUNCT
fbem-23495	88	97	education	education	NOUN
fbem-23495	88	98	0.000	0.000	NUM
fbem-23495	88	99	(	(	PUNCT
fbem-23495	88	100	.	.	PUNCT
fbem-23495	88	101	)	)	PUNCT
fbem-23495	89	1	scientific	scientific	ADJ
fbem-23495	89	2	research	research	NOUN
fbem-23495	89	3	and	and	CCONJ
fbem-23495	89	4	technical	technical	ADJ
fbem-23495	89	5	services	service	NOUN
fbem-23495	89	6	63.671	63.671	NUM
fbem-23495	89	7	*	*	SYM
fbem-23495	89	8	(	(	PUNCT
fbem-23495	89	9	36.284	36.284	NUM
fbem-23495	89	10	)	)	PUNCT
fbem-23495	89	11	agriculture	agriculture	NOUN
fbem-23495	89	12	,	,	PUNCT
fbem-23495	89	13	forestry	forestry	NOUN
fbem-23495	89	14	,	,	PUNCT
fbem-23495	89	15	animal	animal	NOUN
fbem-23495	89	16	husbandry	husbandry	NOUN
fbem-23495	89	17	,	,	PUNCT
fbem-23495	89	18	and	and	CCONJ
fbem-23495	89	19	fishery	fishery	NOUN
fbem-23495	89	20	-1.907	-1.907	NOUN
fbem-23495	89	21	(	(	PUNCT
fbem-23495	89	22	3.855	3.855	NUM
fbem-23495	89	23	)	)	PUNCT
fbem-23495	89	24	wholesale	wholesale	ADJ
fbem-23495	89	25	and	and	CCONJ
fbem-23495	89	26	retail	retail	ADJ
fbem-23495	89	27	1.889	1.889	NUM
fbem-23495	89	28	(	(	PUNCT
fbem-23495	89	29	6.622	6.622	NUM
fbem-23495	89	30	)	)	PUNCT
fbem-23495	89	31	water	water	NOUN
fbem-23495	89	32	conservancy	conservancy	NOUN
fbem-23495	89	33	,	,	PUNCT
fbem-23495	89	34	environment	environment	NOUN
fbem-23495	89	35	and	and	CCONJ
fbem-23495	89	36	public	public	ADJ
fbem-23495	89	37	facilities	facility	NOUN
fbem-23495	89	38	management	management	NOUN
fbem-23495	89	39	-1.023	-1.023	PROPN
fbem-23495	89	40	(	(	PUNCT
fbem-23495	89	41	1.883	1.883	NUM
fbem-23495	89	42	)	)	PUNCT
fbem-23495	89	43	healthcare	healthcare	NOUN
fbem-23495	89	44	and	and	CCONJ
fbem-23495	89	45	social	social	ADJ
fbem-23495	89	46	work	work	NOUN
fbem-23495	89	47	2.047	2.047	NUM
fbem-23495	89	48	(	(	PUNCT
fbem-23495	89	49	7.187	7.187	NUM
fbem-23495	89	50	)	)	PUNCT
fbem-23495	89	51	culture	culture	NOUN
fbem-23495	89	52	,	,	PUNCT
fbem-23495	89	53	sports	sport	NOUN
fbem-23495	89	54	and	and	CCONJ
fbem-23495	89	55	entertainment	entertainment	NOUN
fbem-23495	89	56	-3.667	-3.667	PROPN
fbem-23495	89	57	(	(	PUNCT
fbem-23495	89	58	2.941	2.941	NUM
fbem-23495	89	59	)	)	PUNCT
fbem-23495	89	60	information	information	NOUN
fbem-23495	89	61	transmission	transmission	NOUN
fbem-23495	89	62	,	,	PUNCT
fbem-23495	89	63	software	software	NOUN
fbem-23495	89	64	and	and	CCONJ
fbem-23495	89	65	information	information	NOUN
fbem-23495	89	66	technology	technology	NOUN
fbem-23495	89	67	services	service	NOUN
fbem-23495	89	68	36.285	36.285	NUM
fbem-23495	89	69	*	*	NOUN
fbem-23495	89	70	*	*	PUNCT
fbem-23495	89	71	(	(	PUNCT
fbem-23495	89	72	16.684	16.684	NUM
fbem-23495	89	73	)	)	PUNCT
fbem-23495	89	74	manufacturing	manufacture	VERB
fbem-23495	89	75	5.081	5.081	NUM
fbem-23495	89	76	*	*	PUNCT
fbem-23495	89	77	*	*	PUNCT
fbem-23495	89	78	*	*	PUNCT
fbem-23495	89	79	(	(	PUNCT
fbem-23495	89	80	1.312	1.312	NUM
fbem-23495	89	81	)	)	PUNCT
fbem-23495	89	82	accommodation	accommodation	NOUN
fbem-23495	89	83	and	and	CCONJ
fbem-23495	89	84	catering	catering	NOUN
fbem-23495	89	85	0.000	0.000	NUM
fbem-23495	89	86	(	(	PUNCT
fbem-23495	89	87	.	.	PUNCT
fbem-23495	89	88	)	)	PUNCT
fbem-23495	90	1	leasing	leasing	NOUN
fbem-23495	90	2	and	and	CCONJ
fbem-23495	90	3	business	business	NOUN
fbem-23495	90	4	services	service	NOUN
fbem-23495	90	5	3.268	3.268	NUM
fbem-23495	90	6	(	(	PUNCT
fbem-23495	90	7	3.659	3.659	NUM
fbem-23495	90	8	)	)	PUNCT
fbem-23495	90	9	comprehensive	comprehensive	ADJ
fbem-23495	90	10	2.315	2.315	NUM
fbem-23495	90	11	(	(	PUNCT
fbem-23495	90	12	7.048	7.048	NUM
fbem-23495	90	13	)	)	PUNCT
fbem-23495	90	14	according	accord	VERB
fbem-23495	90	15	to	to	ADP
fbem-23495	90	16	the	the	DET
fbem-23495	90	17	industry	industry	NOUN
fbem-23495	90	18	-	-	PUNCT
fbem-23495	90	19	specific	specific	ADJ
fbem-23495	90	20	regression	regression	NOUN
fbem-23495	90	21	results	result	NOUN
fbem-23495	90	22	:	:	PUNCT
fbem-23495	90	23	in	in	ADP
fbem-23495	90	24	the	the	DET
fbem-23495	90	25	real	real	ADJ
fbem-23495	90	26	estate	estate	NOUN
fbem-23495	90	27	industry	industry	NOUN
fbem-23495	90	28	,	,	PUNCT
fbem-23495	90	29	tax	tax	NOUN
fbem-23495	90	30	incentives	incentive	NOUN
fbem-23495	90	31	have	have	VERB
fbem-23495	90	32	a	a	DET
fbem-23495	90	33	significant	significant	ADJ
fbem-23495	90	34	negative	negative	ADJ
fbem-23495	90	35	impact	impact	NOUN
fbem-23495	90	36	on	on	ADP
fbem-23495	90	37	corporate	corporate	ADJ
fbem-23495	90	38	financial	financial	ADJ
fbem-23495	90	39	performance	performance	NOUN
fbem-23495	90	40	at	at	ADP
fbem-23495	90	41	the	the	DET
fbem-23495	90	42	10	10	NUM
fbem-23495	90	43	%	%	NOUN
fbem-23495	90	44	level	level	NOUN
fbem-23495	90	45	.	.	PUNCT
fbem-23495	91	1	in	in	ADP
fbem-23495	91	2	industries	industry	NOUN
fbem-23495	91	3	with	with	ADP
fbem-23495	91	4	slower	slow	ADJ
fbem-23495	91	5	development	development	NOUN
fbem-23495	91	6	like	like	ADP
fbem-23495	91	7	agriculture	agriculture	NOUN
fbem-23495	91	8	,	,	PUNCT
fbem-23495	91	9	forestry	forestry	NOUN
fbem-23495	91	10	,	,	PUNCT
fbem-23495	91	11	animal	animal	NOUN
fbem-23495	91	12	husbandry	husbandry	NOUN
fbem-23495	91	13	,	,	PUNCT
fbem-23495	91	14	and	and	CCONJ
fbem-23495	91	15	fishery	fishery	NOUN
fbem-23495	91	16	,	,	PUNCT
fbem-23495	91	17	where	where	SCONJ
fbem-23495	91	18	significant	significant	ADJ
fbem-23495	91	19	tax	tax	NOUN
fbem-23495	91	20	incentives	incentive	NOUN
fbem-23495	91	21	,	,	PUNCT
fbem-23495	91	22	including	include	VERB
fbem-23495	91	23	zero	zero	NUM
fbem-23495	91	24	tax	tax	NOUN
fbem-23495	91	25	rates	rate	NOUN
fbem-23495	91	26	,	,	PUNCT
fbem-23495	91	27	are	be	AUX
fbem-23495	91	28	provided	provide	VERB
fbem-23495	91	29	,	,	PUNCT
fbem-23495	91	30	the	the	DET
fbem-23495	91	31	impact	impact	NOUN
fbem-23495	91	32	of	of	ADP
fbem-23495	91	33	tax	tax	NOUN
fbem-23495	91	34	incentives	incentive	NOUN
fbem-23495	91	35	on	on	ADP
fbem-23495	91	36	innovation	innovation	NOUN
fbem-23495	91	37	investment	investment	NOUN
fbem-23495	91	38	is	be	AUX
fbem-23495	91	39	not	not	PART
fbem-23495	91	40	significant	significant	ADJ
fbem-23495	91	41	.	.	PUNCT
fbem-23495	92	1	in	in	ADP
fbem-23495	92	2	contrast	contrast	NOUN
fbem-23495	92	3	,	,	PUNCT
fbem-23495	92	4	in	in	ADP
fbem-23495	92	5	the	the	DET
fbem-23495	92	6	construction	construction	NOUN
fbem-23495	92	7	,	,	PUNCT
fbem-23495	92	8	scientific	scientific	ADJ
fbem-23495	92	9	research	research	NOUN
fbem-23495	92	10	and	and	CCONJ
fbem-23495	92	11	technical	technical	ADJ
fbem-23495	92	12	services	service	NOUN
fbem-23495	92	13	,	,	PUNCT
fbem-23495	92	14	information	information	NOUN
fbem-23495	92	15	transmission	transmission	NOUN
fbem-23495	92	16	,	,	PUNCT
fbem-23495	92	17	software	software	NOUN
fbem-23495	92	18	and	and	CCONJ
fbem-23495	92	19	information	information	NOUN
fbem-23495	92	20	technology	technology	NOUN
fbem-23495	92	21	services	service	NOUN
fbem-23495	92	22	,	,	PUNCT
fbem-23495	92	23	and	and	CCONJ
fbem-23495	92	24	manufacturing	manufacturing	NOUN
fbem-23495	92	25	industries	industry	NOUN
fbem-23495	92	26	,	,	PUNCT
fbem-23495	92	27	tax	tax	NOUN
fbem-23495	92	28	incentives	incentive	NOUN
fbem-23495	92	29	show	show	VERB
fbem-23495	92	30	a	a	DET
fbem-23495	92	31	significant	significant	ADJ
fbem-23495	92	32	positive	positive	ADJ
fbem-23495	92	33	correlation	correlation	NOUN
fbem-23495	92	34	with	with	ADP
fbem-23495	92	35	corporate	corporate	ADJ
fbem-23495	92	36	financial	financial	ADJ
fbem-23495	92	37	performance	performance	NOUN
fbem-23495	92	38	at	at	ADP
fbem-23495	92	39	various	various	ADJ
fbem-23495	92	40	levels	level	NOUN
fbem-23495	92	41	.	.	PUNCT
fbem-23495	93	1	this	this	PRON
fbem-23495	93	2	indicates	indicate	VERB
fbem-23495	93	3	that	that	SCONJ
fbem-23495	93	4	the	the	DET
fbem-23495	93	5	impact	impact	NOUN
fbem-23495	93	6	of	of	ADP
fbem-23495	93	7	tax	tax	NOUN
fbem-23495	93	8	incentives	incentive	NOUN
fbem-23495	93	9	on	on	ADP
fbem-23495	93	10	corporate	corporate	ADJ
fbem-23495	93	11	financial	financial	ADJ
fbem-23495	93	12	performance	performance	NOUN
fbem-23495	93	13	varies	vary	VERB
fbem-23495	93	14	across	across	ADP
fbem-23495	93	15	different	different	ADJ
fbem-23495	93	16	industries	industry	NOUN
fbem-23495	93	17	.	.	PUNCT
fbem-23495	94	1	5	5	X
fbem-23495	94	2	.	.	X
fbem-23495	94	3	conclusion	conclusion	NOUN
fbem-23495	94	4	and	and	CCONJ
fbem-23495	94	5	policy	policy	NOUN
fbem-23495	94	6	recommendations	recommendation	NOUN
fbem-23495	94	7	5.1	5.1	NUM
fbem-23495	94	8	.	.	PUNCT
fbem-23495	95	1	conclusion	conclusion	NOUN
fbem-23495	95	2	this	this	DET
fbem-23495	95	3	study	study	NOUN
fbem-23495	95	4	utilized	utilize	VERB
fbem-23495	95	5	financial	financial	ADJ
fbem-23495	95	6	data	datum	NOUN
fbem-23495	95	7	from	from	ADP
fbem-23495	95	8	a	a	DET
fbem-23495	95	9	-	-	PUNCT
fbem-23495	95	10	share	share	NOUN
fbem-23495	95	11	listed	list	VERB
fbem-23495	95	12	companies	company	NOUN
fbem-23495	95	13	spanning	span	VERB
fbem-23495	95	14	from	from	ADP
fbem-23495	95	15	2012	2012	NUM
fbem-23495	95	16	to	to	ADP
fbem-23495	95	17	2016	2016	NUM
fbem-23495	95	18	.	.	PUNCT
fbem-23495	96	1	return	return	VERB
fbem-23495	96	2	on	on	ADP
fbem-23495	96	3	equity	equity	NOUN
fbem-23495	96	4	(	(	PUNCT
fbem-23495	96	5	roe	roe	PROPN
fbem-23495	96	6	)	)	PUNCT
fbem-23495	96	7	was	be	AUX
fbem-23495	96	8	selected	select	VERB
fbem-23495	96	9	as	as	ADP
fbem-23495	96	10	the	the	DET
fbem-23495	96	11	dependent	dependent	ADJ
fbem-23495	96	12	variable	variable	NOUN
fbem-23495	96	13	,	,	PUNCT
fbem-23495	96	14	with	with	ADP
fbem-23495	96	15	the	the	DET
fbem-23495	96	16	criterion	criterion	NOUN
fbem-23495	96	17	of	of	ADP
fbem-23495	96	18	companies	company	NOUN
fbem-23495	96	19	enjoying	enjoy	VERB
fbem-23495	96	20	tax	tax	NOUN
fbem-23495	96	21	incentives	incentive	NOUN
fbem-23495	96	22	defined	define	VERB
fbem-23495	96	23	as	as	ADP
fbem-23495	96	24	having	have	VERB
fbem-23495	96	25	an	an	DET
fbem-23495	96	26	annual	annual	ADJ
fbem-23495	96	27	income	income	NOUN
fbem-23495	96	28	tax	tax	NOUN
fbem-23495	96	29	rate	rate	NOUN
fbem-23495	96	30	below	below	ADP
fbem-23495	96	31	25	25	NUM
fbem-23495	96	32	%	%	NOUN
fbem-23495	96	33	.	.	PUNCT
fbem-23495	97	1	control	control	NOUN
fbem-23495	97	2	variables	variable	NOUN
fbem-23495	97	3	included	include	VERB
fbem-23495	97	4	enterprise	enterprise	NOUN
fbem-23495	97	5	size	size	NOUN
fbem-23495	97	6	,	,	PUNCT
fbem-23495	97	7	debt	debt	NOUN
fbem-23495	97	8	-	-	PUNCT
fbem-23495	97	9	to	to	ADP
fbem-23495	97	10	-	-	PUNCT
fbem-23495	97	11	asset	asset	NOUN
fbem-23495	97	12	ratio	ratio	NOUN
fbem-23495	97	13	,	,	PUNCT
fbem-23495	97	14	and	and	CCONJ
fbem-23495	97	15	ownership	ownership	NOUN
fbem-23495	97	16	concentration	concentration	NOUN
fbem-23495	97	17	.	.	PUNCT
fbem-23495	98	1	through	through	ADP
fbem-23495	98	2	multiple	multiple	ADJ
fbem-23495	98	3	regression	regression	NOUN
fbem-23495	98	4	analysis	analysis	NOUN
fbem-23495	98	5	,	,	PUNCT
fbem-23495	98	6	the	the	DET
fbem-23495	98	7	study	study	NOUN
fbem-23495	98	8	found	find	VERB
fbem-23495	98	9	that	that	SCONJ
fbem-23495	98	10	tax	tax	NOUN
fbem-23495	98	11	incentives	incentive	NOUN
fbem-23495	98	12	enhance	enhance	VERB
fbem-23495	98	13	corporate	corporate	ADJ
fbem-23495	98	14	financial	financial	ADJ
fbem-23495	98	15	performance	performance	NOUN
fbem-23495	98	16	.	.	PUNCT
fbem-23495	99	1	additionally	additionally	ADV
fbem-23495	99	2	,	,	PUNCT
fbem-23495	99	3	the	the	DET
fbem-23495	99	4	effectiveness	effectiveness	NOUN
fbem-23495	99	5	of	of	ADP
fbem-23495	99	6	tax	tax	NOUN
fbem-23495	99	7	incentives	incentive	NOUN
fbem-23495	99	8	varies	vary	VERB
fbem-23495	99	9	across	across	ADP
fbem-23495	99	10	different	different	ADJ
fbem-23495	99	11	industries	industry	NOUN
fbem-23495	99	12	.	.	PUNCT
fbem-23495	100	1	5.2	5.2	NUM
fbem-23495	100	2	.	.	PUNCT
fbem-23495	101	1	policy	policy	NOUN
fbem-23495	101	2	recommendations	recommendation	NOUN
fbem-23495	101	3	5.2.1	5.2.1	NUM
fbem-23495	101	4	.	.	PUNCT
fbem-23495	102	1	innovate	innovate	VERB
fbem-23495	102	2	tax	tax	NOUN
fbem-23495	102	3	incentive	incentive	NOUN
fbem-23495	102	4	policies	policy	NOUN
fbem-23495	102	5	for	for	ADP
fbem-23495	102	6	enhanced	enhanced	ADJ
fbem-23495	102	7	effectiveness	effectiveness	NOUN
fbem-23495	102	8	:	:	PUNCT
fbem-23495	102	9	implement	implement	VERB
fbem-23495	102	10	differentiated	differentiated	ADJ
fbem-23495	102	11	tax	tax	NOUN
fbem-23495	102	12	incentive	incentive	NOUN
fbem-23495	102	13	policies	policy	NOUN
fbem-23495	102	14	tailored	tailor	VERB
fbem-23495	102	15	to	to	ADP
fbem-23495	102	16	specific	specific	ADJ
fbem-23495	102	17	products	product	NOUN
fbem-23495	102	18	and	and	CCONJ
fbem-23495	102	19	demographic	demographic	ADJ
fbem-23495	102	20	groups	group	NOUN
fbem-23495	102	21	rather	rather	ADV
fbem-23495	102	22	than	than	ADP
fbem-23495	102	23	adopting	adopt	VERB
fbem-23495	102	24	a	a	DET
fbem-23495	102	25	uniform	uniform	ADJ
fbem-23495	102	26	approach	approach	NOUN
fbem-23495	102	27	across	across	ADP
fbem-23495	102	28	industries	industry	NOUN
fbem-23495	102	29	.	.	PUNCT
fbem-23495	103	1	this	this	DET
fbem-23495	103	2	approach	approach	NOUN
fbem-23495	103	3	can	can	AUX
fbem-23495	103	4	significantly	significantly	ADV
fbem-23495	103	5	reduce	reduce	VERB
fbem-23495	103	6	policy	policy	NOUN
fbem-23495	103	7	implementation	implementation	NOUN
fbem-23495	103	8	costs	cost	NOUN
fbem-23495	103	9	.	.	PUNCT
fbem-23495	104	1	furthermore	furthermore	ADV
fbem-23495	104	2	,	,	PUNCT
fbem-23495	104	3	enhance	enhance	VERB
fbem-23495	104	4	the	the	DET
fbem-23495	104	5	dissemination	dissemination	NOUN
fbem-23495	104	6	of	of	ADP
fbem-23495	104	7	tax	tax	NOUN
fbem-23495	104	8	incentive	incentive	NOUN
fbem-23495	104	9	information	information	NOUN
fbem-23495	104	10	,	,	PUNCT
fbem-23495	104	11	streamline	streamline	VERB
fbem-23495	104	12	approval	approval	NOUN
fbem-23495	104	13	processes	process	NOUN
fbem-23495	104	14	,	,	PUNCT
fbem-23495	104	15	and	and	CCONJ
fbem-23495	104	16	improve	improve	VERB
fbem-23495	104	17	service	service	NOUN
fbem-23495	104	18	awareness	awareness	NOUN
fbem-23495	104	19	,	,	PUNCT
fbem-23495	104	20	particularly	particularly	ADV
fbem-23495	104	21	in	in	ADP
fbem-23495	104	22	agriculture	agriculture	NOUN
fbem-23495	104	23	where	where	SCONJ
fbem-23495	104	24	information	information	NOUN
fbem-23495	104	25	barriers	barrier	NOUN
fbem-23495	104	26	exist	exist	VERB
fbem-23495	104	27	.	.	PUNCT
fbem-23495	105	1	5.2.2	5.2.2	NUM
fbem-23495	105	2	.	.	X
fbem-23495	105	3	optimize	optimize	NOUN
fbem-23495	105	4	ownership	ownership	NOUN
fbem-23495	105	5	structure	structure	NOUN
fbem-23495	105	6	for	for	ADP
fbem-23495	105	7	long	long	ADJ
fbem-23495	105	8	-	-	PUNCT
fbem-23495	105	9	term	term	NOUN
fbem-23495	105	10	development	development	NOUN
fbem-23495	105	11	:	:	PUNCT
fbem-23495	105	12	the	the	DET
fbem-23495	105	13	empirical	empirical	ADJ
fbem-23495	105	14	analysis	analysis	NOUN
fbem-23495	105	15	of	of	ADP
fbem-23495	105	16	this	this	DET
fbem-23495	105	17	study	study	NOUN
fbem-23495	105	18	clearly	clearly	ADV
fbem-23495	105	19	reveals	reveal	VERB
fbem-23495	105	20	a	a	DET
fbem-23495	105	21	significant	significant	ADJ
fbem-23495	105	22	positive	positive	ADJ
fbem-23495	105	23	correlation	correlation	NOUN
fbem-23495	105	24	between	between	ADP
fbem-23495	105	25	ownership	ownership	NOUN
fbem-23495	105	26	concentration	concentration	NOUN
fbem-23495	105	27	and	and	CCONJ
fbem-23495	105	28	return	return	NOUN
fbem-23495	105	29	on	on	ADP
fbem-23495	105	30	equity	equity	NOUN
fbem-23495	105	31	(	(	PUNCT
fbem-23495	105	32	roe	roe	PROPN
fbem-23495	105	33	)	)	PUNCT
fbem-23495	105	34	.	.	PUNCT
fbem-23495	106	1	this	this	PRON
fbem-23495	106	2	indicates	indicate	VERB
fbem-23495	106	3	that	that	SCONJ
fbem-23495	106	4	an	an	DET
fbem-23495	106	5	appropriate	appropriate	ADJ
fbem-23495	106	6	level	level	NOUN
fbem-23495	106	7	of	of	ADP
fbem-23495	106	8	ownership	ownership	NOUN
fbem-23495	106	9	concentration	concentration	NOUN
fbem-23495	106	10	helps	helps	AUX
fbem-23495	106	11	improve	improve	VERB
fbem-23495	106	12	management	management	NOUN
fbem-23495	106	13	efficiency	efficiency	NOUN
fbem-23495	106	14	and	and	CCONJ
fbem-23495	106	15	financial	financial	ADJ
fbem-23495	106	16	performance	performance	NOUN
fbem-23495	106	17	.	.	PUNCT
fbem-23495	107	1	increasing	increase	VERB
fbem-23495	107	2	ownership	ownership	NOUN
fbem-23495	107	3	concentration	concentration	NOUN
fbem-23495	107	4	can	can	AUX
fbem-23495	107	5	enhance	enhance	VERB
fbem-23495	107	6	the	the	DET
fbem-23495	107	7	influence	influence	NOUN
fbem-23495	107	8	of	of	ADP
fbem-23495	107	9	major	major	ADJ
fbem-23495	107	10	shareholders	shareholder	NOUN
fbem-23495	107	11	in	in	ADP
fbem-23495	107	12	corporate	corporate	ADJ
fbem-23495	107	13	decision	decision	NOUN
fbem-23495	107	14	-	-	PUNCT
fbem-23495	107	15	making	making	NOUN
fbem-23495	107	16	,	,	PUNCT
fbem-23495	107	17	thereby	thereby	ADV
fbem-23495	107	18	more	more	ADV
fbem-23495	107	19	effectively	effectively	ADV
fbem-23495	107	20	supervising	supervise	VERB
fbem-23495	107	21	the	the	DET
fbem-23495	107	22	management	management	NOUN
fbem-23495	107	23	,	,	PUNCT
fbem-23495	107	24	reducing	reduce	VERB
fbem-23495	107	25	agency	agency	NOUN
fbem-23495	107	26	costs	cost	NOUN
fbem-23495	107	27	,	,	PUNCT
fbem-23495	107	28	and	and	CCONJ
fbem-23495	107	29	increasing	increase	VERB
fbem-23495	107	30	the	the	DET
fbem-23495	107	31	efficiency	efficiency	NOUN
fbem-23495	107	32	of	of	ADP
fbem-23495	107	33	business	business	NOUN
fbem-23495	107	34	decisions	decision	NOUN
fbem-23495	107	35	.	.	PUNCT
fbem-23495	108	1	when	when	SCONJ
fbem-23495	108	2	adjusting	adjust	VERB
fbem-23495	108	3	their	their	PRON
fbem-23495	108	4	ownership	ownership	NOUN
fbem-23495	108	5	structure	structure	NOUN
fbem-23495	108	6	,	,	PUNCT
fbem-23495	108	7	companies	company	NOUN
fbem-23495	108	8	should	should	AUX
fbem-23495	108	9	comprehensively	comprehensively	ADV
fbem-23495	108	10	consider	consider	VERB
fbem-23495	108	11	industry	industry	NOUN
fbem-23495	108	12	characteristics	characteristic	NOUN
fbem-23495	108	13	,	,	PUNCT
fbem-23495	108	14	company	company	NOUN
fbem-23495	108	15	size	size	NOUN
fbem-23495	108	16	,	,	PUNCT
fbem-23495	108	17	and	and	CCONJ
fbem-23495	108	18	development	development	NOUN
fbem-23495	108	19	stages	stage	NOUN
fbem-23495	108	20	to	to	PART
fbem-23495	108	21	formulate	formulate	VERB
fbem-23495	108	22	adjustment	adjustment	NOUN
fbem-23495	108	23	strategies	strategy	NOUN
fbem-23495	108	24	that	that	PRON
fbem-23495	108	25	suit	suit	VERB
fbem-23495	108	26	their	their	PRON
fbem-23495	108	27	specific	specific	ADJ
fbem-23495	108	28	circumstances	circumstance	NOUN
fbem-23495	108	29	.	.	PUNCT
fbem-23495	109	1	by	by	ADP
fbem-23495	109	2	introducing	introduce	VERB
fbem-23495	109	3	long	long	ADJ
fbem-23495	109	4	-	-	PUNCT
fbem-23495	109	5	term	term	NOUN
fbem-23495	109	6	investors	investor	NOUN
fbem-23495	109	7	,	,	PUNCT
fbem-23495	109	8	optimizing	optimize	VERB
fbem-23495	109	9	equity	equity	NOUN
fbem-23495	109	10	distribution	distribution	NOUN
fbem-23495	109	11	,	,	PUNCT
fbem-23495	109	12	and	and	CCONJ
fbem-23495	109	13	implementing	implement	VERB
fbem-23495	109	14	equity	equity	NOUN
fbem-23495	109	15	incentive	incentive	NOUN
fbem-23495	109	16	plans	plan	NOUN
fbem-23495	109	17	,	,	PUNCT
fbem-23495	109	18	companies	company	NOUN
fbem-23495	109	19	can	can	AUX
fbem-23495	109	20	enhance	enhance	VERB
fbem-23495	109	21	the	the	DET
fbem-23495	109	22	incentives	incentive	NOUN
fbem-23495	109	23	and	and	CCONJ
fbem-23495	109	24	constraints	constraint	NOUN
fbem-23495	109	25	on	on	ADP
fbem-23495	109	26	management	management	NOUN
fbem-23495	109	27	,	,	PUNCT
fbem-23495	109	28	ensuring	ensure	VERB
fbem-23495	109	29	that	that	SCONJ
fbem-23495	109	30	corporate	corporate	ADJ
fbem-23495	109	31	decisions	decision	NOUN
fbem-23495	109	32	align	align	VERB
fbem-23495	109	33	with	with	ADP
fbem-23495	109	34	long	long	ADJ
fbem-23495	109	35	-	-	PUNCT
fbem-23495	109	36	term	term	NOUN
fbem-23495	109	37	development	development	NOUN
fbem-23495	109	38	goals	goal	NOUN
fbem-23495	109	39	.	.	PUNCT
fbem-23495	110	1	to	to	PART
fbem-23495	110	2	address	address	VERB
fbem-23495	110	3	the	the	DET
fbem-23495	110	4	principal	principal	ADJ
fbem-23495	110	5	-	-	PUNCT
fbem-23495	110	6	agent	agent	NOUN
fbem-23495	110	7	problem	problem	NOUN
fbem-23495	110	8	arising	arise	VERB
fbem-23495	110	9	from	from	ADP
fbem-23495	110	10	the	the	DET
fbem-23495	110	11	separation	separation	NOUN
fbem-23495	110	12	of	of	ADP
fbem-23495	110	13	ownership	ownership	NOUN
fbem-23495	110	14	and	and	CCONJ
fbem-23495	110	15	control	control	NOUN
fbem-23495	110	16	,	,	PUNCT
fbem-23495	110	17	companies	company	NOUN
fbem-23495	110	18	need	need	VERB
fbem-23495	110	19	to	to	PART
fbem-23495	110	20	establish	establish	VERB
fbem-23495	110	21	robust	robust	ADJ
fbem-23495	110	22	internal	internal	ADJ
fbem-23495	110	23	supervision	supervision	NOUN
fbem-23495	110	24	mechanisms	mechanism	NOUN
fbem-23495	110	25	.	.	PUNCT
fbem-23495	111	1	this	this	PRON
fbem-23495	111	2	can	can	AUX
fbem-23495	111	3	be	be	AUX
fbem-23495	111	4	achieved	achieve	VERB
fbem-23495	111	5	by	by	ADP
fbem-23495	111	6	setting	set	VERB
fbem-23495	111	7	up	up	ADP
fbem-23495	111	8	independent	independent	ADJ
fbem-23495	111	9	boards	board	NOUN
fbem-23495	111	10	of	of	ADP
fbem-23495	111	11	directors	director	NOUN
fbem-23495	111	12	,	,	PUNCT
fbem-23495	111	13	strengthening	strengthen	VERB
fbem-23495	111	14	the	the	DET
fbem-23495	111	15	functions	function	NOUN
fbem-23495	111	16	of	of	ADP
fbem-23495	111	17	supervisory	supervisory	ADJ
fbem-23495	111	18	boards	board	NOUN
fbem-23495	111	19	,	,	PUNCT
fbem-23495	111	20	and	and	CCONJ
fbem-23495	111	21	improving	improve	VERB
fbem-23495	111	22	internal	internal	ADJ
fbem-23495	111	23	audit	audit	NOUN
fbem-23495	111	24	systems	system	NOUN
fbem-23495	111	25	.	.	PUNCT
fbem-23495	112	1	these	these	DET
fbem-23495	112	2	measures	measure	NOUN
fbem-23495	112	3	will	will	AUX
fbem-23495	112	4	increase	increase	VERB
fbem-23495	112	5	corporate	corporate	ADJ
fbem-23495	112	6	transparency	transparency	NOUN
fbem-23495	112	7	and	and	CCONJ
fbem-23495	112	8	ensure	ensure	VERB
fbem-23495	112	9	that	that	SCONJ
fbem-23495	112	10	management	management	NOUN
fbem-23495	112	11	actions	action	NOUN
fbem-23495	112	12	align	align	VERB
fbem-23495	112	13	with	with	ADP
fbem-23495	112	14	the	the	DET
fbem-23495	112	15	interests	interest	NOUN
fbem-23495	112	16	of	of	ADP
fbem-23495	112	17	all	all	DET
fbem-23495	112	18	shareholders	shareholder	NOUN
fbem-23495	112	19	.	.	PUNCT
fbem-23495	113	1	companies	company	NOUN
fbem-23495	113	2	should	should	AUX
fbem-23495	113	3	enhance	enhance	VERB
fbem-23495	113	4	internal	internal	ADJ
fbem-23495	113	5	governance	governance	NOUN
fbem-23495	113	6	efficiency	efficiency	NOUN
fbem-23495	113	7	by	by	ADP
fbem-23495	113	8	optimizing	optimize	VERB
fbem-23495	113	9	decision	decision	NOUN
fbem-23495	113	10	-	-	PUNCT
fbem-23495	113	11	making	make	VERB
fbem-23495	113	12	processes	process	NOUN
fbem-23495	113	13	,	,	PUNCT
fbem-23495	113	14	improving	improve	VERB
fbem-23495	113	15	information	information	NOUN
fbem-23495	113	16	flow	flow	NOUN
fbem-23495	113	17	,	,	PUNCT
fbem-23495	113	18	and	and	CCONJ
fbem-23495	113	19	strengthening	strengthen	VERB
fbem-23495	113	20	employee	employee	NOUN
fbem-23495	113	21	training	training	NOUN
fbem-23495	113	22	.	.	PUNCT
fbem-23495	114	1	this	this	PRON
fbem-23495	114	2	not	not	PART
fbem-23495	114	3	only	only	ADV
fbem-23495	114	4	helps	helps	AUX
fbem-23495	114	5	reduce	reduce	VERB
fbem-23495	114	6	internal	internal	ADJ
fbem-23495	114	7	friction	friction	NOUN
fbem-23495	114	8	but	but	CCONJ
fbem-23495	114	9	also	also	ADV
fbem-23495	114	10	promotes	promote	VERB
fbem-23495	114	11	quick	quick	ADJ
fbem-23495	114	12	responses	response	NOUN
fbem-23495	114	13	to	to	ADP
fbem-23495	114	14	market	market	NOUN
fbem-23495	114	15	changes	change	NOUN
fbem-23495	114	16	,	,	PUNCT
fbem-23495	114	17	enhancing	enhance	VERB
fbem-23495	114	18	competitiveness	competitiveness	NOUN
fbem-23495	114	19	.	.	PUNCT
fbem-23495	115	1	through	through	ADP
fbem-23495	115	2	these	these	DET
fbem-23495	115	3	measures	measure	NOUN
fbem-23495	115	4	,	,	PUNCT
fbem-23495	115	5	companies	company	NOUN
fbem-23495	115	6	will	will	AUX
fbem-23495	115	7	be	be	AUX
fbem-23495	115	8	able	able	ADJ
fbem-23495	115	9	to	to	PART
fbem-23495	115	10	optimize	optimize	VERB
fbem-23495	115	11	their	their	PRON
fbem-23495	115	12	internal	internal	ADJ
fbem-23495	115	13	governance	governance	NOUN
fbem-23495	115	14	structure	structure	NOUN
fbem-23495	115	15	,	,	PUNCT
fbem-23495	115	16	establish	establish	VERB
fbem-23495	115	17	effective	effective	ADJ
fbem-23495	115	18	incentive	incentive	NOUN
fbem-23495	115	19	and	and	CCONJ
fbem-23495	115	20	restraint	restraint	NOUN
fbem-23495	115	21	mechanisms	mechanism	NOUN
fbem-23495	115	22	,	,	PUNCT
fbem-23495	115	23	promote	promote	VERB
fbem-23495	115	24	the	the	DET
fbem-23495	115	25	rational	rational	ADJ
fbem-23495	115	26	allocation	allocation	NOUN
fbem-23495	115	27	and	and	CCONJ
fbem-23495	115	28	efficient	efficient	ADJ
fbem-23495	115	29	use	use	NOUN
fbem-23495	115	30	of	of	ADP
fbem-23495	115	31	internal	internal	ADJ
fbem-23495	115	32	resources	resource	NOUN
fbem-23495	115	33	,	,	PUNCT
fbem-23495	115	34	and	and	CCONJ
fbem-23495	115	35	achieve	achieve	VERB
fbem-23495	115	36	smooth	smooth	ADJ
fbem-23495	115	37	internal	internal	ADJ
fbem-23495	115	38	operations	operation	NOUN
fbem-23495	115	39	,	,	PUNCT
fbem-23495	115	40	thereby	thereby	ADV
fbem-23495	115	41	creating	create	VERB
fbem-23495	115	42	greater	great	ADJ
fbem-23495	115	43	value	value	NOUN
fbem-23495	115	44	for	for	ADP
fbem-23495	115	45	shareholders	shareholder	NOUN
fbem-23495	115	46	.	.	PUNCT
fbem-23495	116	1	in	in	ADP
fbem-23495	116	2	addition	addition	NOUN
fbem-23495	116	3	to	to	ADP
fbem-23495	116	4	adjusting	adjust	VERB
fbem-23495	116	5	ownership	ownership	NOUN
fbem-23495	116	6	structure	structure	NOUN
fbem-23495	116	7	,	,	PUNCT
fbem-23495	116	8	companies	company	NOUN
fbem-23495	116	9	should	should	AUX
fbem-23495	116	10	also	also	ADV
fbem-23495	116	11	focus	focus	VERB
fbem-23495	116	12	on	on	ADP
fbem-23495	116	13	cultivating	cultivate	VERB
fbem-23495	116	14	corporate	corporate	ADJ
fbem-23495	116	15	culture	culture	NOUN
fbem-23495	116	16	and	and	CCONJ
fbem-23495	116	17	values	value	NOUN
fbem-23495	116	18	.	.	PUNCT
fbem-23495	117	1	201	201	NUM
fbem-23495	117	2	by	by	ADP
fbem-23495	117	3	establishing	establish	VERB
fbem-23495	117	4	the	the	DET
fbem-23495	117	5	right	right	ADJ
fbem-23495	117	6	corporate	corporate	ADJ
fbem-23495	117	7	values	value	NOUN
fbem-23495	117	8	,	,	PUNCT
fbem-23495	117	9	guiding	guide	VERB
fbem-23495	117	10	employee	employee	NOUN
fbem-23495	117	11	behavior	behavior	NOUN
fbem-23495	117	12	,	,	PUNCT
fbem-23495	117	13	and	and	CCONJ
fbem-23495	117	14	fostering	foster	VERB
fbem-23495	117	15	a	a	DET
fbem-23495	117	16	positive	positive	ADJ
fbem-23495	117	17	corporate	corporate	ADJ
fbem-23495	117	18	atmosphere	atmosphere	NOUN
fbem-23495	117	19	,	,	PUNCT
fbem-23495	117	20	companies	company	NOUN
fbem-23495	117	21	can	can	AUX
fbem-23495	117	22	lay	lay	VERB
fbem-23495	117	23	a	a	DET
fbem-23495	117	24	solid	solid	ADJ
fbem-23495	117	25	foundation	foundation	NOUN
fbem-23495	117	26	for	for	ADP
fbem-23495	117	27	long	long	ADJ
fbem-23495	117	28	-	-	PUNCT
fbem-23495	117	29	term	term	NOUN
fbem-23495	117	30	stable	stable	ADJ
fbem-23495	117	31	development	development	NOUN
fbem-23495	117	32	.	.	PUNCT
fbem-23495	118	1	through	through	ADP
fbem-23495	118	2	these	these	DET
fbem-23495	118	3	optimization	optimization	NOUN
fbem-23495	118	4	measures	measure	NOUN
fbem-23495	118	5	,	,	PUNCT
fbem-23495	118	6	companies	company	NOUN
fbem-23495	118	7	can	can	AUX
fbem-23495	118	8	not	not	PART
fbem-23495	118	9	only	only	ADV
fbem-23495	118	10	improve	improve	VERB
fbem-23495	118	11	their	their	PRON
fbem-23495	118	12	governance	governance	NOUN
fbem-23495	118	13	structure	structure	NOUN
fbem-23495	118	14	and	and	CCONJ
fbem-23495	118	15	operational	operational	ADJ
fbem-23495	118	16	efficiency	efficiency	NOUN
fbem-23495	118	17	but	but	CCONJ
fbem-23495	118	18	also	also	ADV
fbem-23495	118	19	maintain	maintain	VERB
fbem-23495	118	20	competitiveness	competitiveness	NOUN
fbem-23495	118	21	in	in	ADP
fbem-23495	118	22	a	a	DET
fbem-23495	118	23	complex	complex	ADJ
fbem-23495	118	24	and	and	CCONJ
fbem-23495	118	25	ever	ever	ADV
fbem-23495	118	26	-	-	PUNCT
fbem-23495	118	27	changing	change	VERB
fbem-23495	118	28	market	market	NOUN
fbem-23495	118	29	environment	environment	NOUN
fbem-23495	118	30	,	,	PUNCT
fbem-23495	118	31	achieving	achieve	VERB
fbem-23495	118	32	sustainable	sustainable	ADJ
fbem-23495	118	33	development	development	NOUN
fbem-23495	118	34	.	.	PUNCT
fbem-23495	119	1	5.2.3	5.2.3	NUM
fbem-23495	119	2	.	.	X
fbem-23495	119	3	increase	increase	VERB
fbem-23495	119	4	tax	tax	NOUN
fbem-23495	119	5	incentives	incentive	NOUN
fbem-23495	119	6	for	for	ADP
fbem-23495	119	7	high	high	ADJ
fbem-23495	119	8	-	-	PUNCT
fbem-23495	119	9	tech	tech	NOUN
fbem-23495	119	10	and	and	CCONJ
fbem-23495	119	11	manufacturing	manufacture	VERB
fbem-23495	119	12	talent	talent	NOUN
fbem-23495	119	13	support	support	NOUN
fbem-23495	119	14	:	:	PUNCT
fbem-23495	119	15	high	high	ADJ
fbem-23495	119	16	-	-	PUNCT
fbem-23495	119	17	tech	tech	NOUN
fbem-23495	119	18	industries	industry	NOUN
fbem-23495	119	19	and	and	CCONJ
fbem-23495	119	20	manufacturing	manufacturing	NOUN
fbem-23495	119	21	are	be	AUX
fbem-23495	119	22	crucial	crucial	ADJ
fbem-23495	119	23	engines	engine	NOUN
fbem-23495	119	24	of	of	ADP
fbem-23495	119	25	economic	economic	ADJ
fbem-23495	119	26	development	development	NOUN
fbem-23495	119	27	,	,	PUNCT
fbem-23495	119	28	and	and	CCONJ
fbem-23495	119	29	talent	talent	NOUN
fbem-23495	119	30	is	be	AUX
fbem-23495	119	31	the	the	DET
fbem-23495	119	32	core	core	NOUN
fbem-23495	119	33	resource	resource	NOUN
fbem-23495	119	34	driving	drive	VERB
fbem-23495	119	35	the	the	DET
fbem-23495	119	36	growth	growth	NOUN
fbem-23495	119	37	of	of	ADP
fbem-23495	119	38	these	these	DET
fbem-23495	119	39	industries	industry	NOUN
fbem-23495	119	40	.	.	PUNCT
fbem-23495	120	1	the	the	DET
fbem-23495	120	2	empirical	empirical	ADJ
fbem-23495	120	3	analysis	analysis	NOUN
fbem-23495	120	4	of	of	ADP
fbem-23495	120	5	this	this	DET
fbem-23495	120	6	study	study	NOUN
fbem-23495	120	7	indicates	indicate	VERB
fbem-23495	120	8	a	a	DET
fbem-23495	120	9	significant	significant	ADJ
fbem-23495	120	10	positive	positive	ADJ
fbem-23495	120	11	correlation	correlation	NOUN
fbem-23495	120	12	between	between	ADP
fbem-23495	120	13	tax	tax	NOUN
fbem-23495	120	14	incentive	incentive	NOUN
fbem-23495	120	15	policies	policy	NOUN
fbem-23495	120	16	and	and	CCONJ
fbem-23495	120	17	the	the	DET
fbem-23495	120	18	financial	financial	ADJ
fbem-23495	120	19	performance	performance	NOUN
fbem-23495	120	20	of	of	ADP
fbem-23495	120	21	companies	company	NOUN
fbem-23495	120	22	in	in	ADP
fbem-23495	120	23	these	these	DET
fbem-23495	120	24	sectors	sector	NOUN
fbem-23495	120	25	.	.	PUNCT
fbem-23495	121	1	this	this	PRON
fbem-23495	121	2	suggests	suggest	VERB
fbem-23495	121	3	that	that	SCONJ
fbem-23495	121	4	tax	tax	NOUN
fbem-23495	121	5	incentives	incentive	NOUN
fbem-23495	121	6	can	can	AUX
fbem-23495	121	7	effectively	effectively	ADV
fbem-23495	121	8	enhance	enhance	VERB
fbem-23495	121	9	corporate	corporate	ADJ
fbem-23495	121	10	financial	financial	ADJ
fbem-23495	121	11	performance	performance	NOUN
fbem-23495	121	12	,	,	PUNCT
fbem-23495	121	13	thereby	thereby	ADV
fbem-23495	121	14	promoting	promote	VERB
fbem-23495	121	15	the	the	DET
fbem-23495	121	16	healthy	healthy	ADJ
fbem-23495	121	17	development	development	NOUN
fbem-23495	121	18	of	of	ADP
fbem-23495	121	19	the	the	DET
fbem-23495	121	20	entire	entire	ADJ
fbem-23495	121	21	industry	industry	NOUN
fbem-23495	121	22	.	.	PUNCT
fbem-23495	122	1	to	to	PART
fbem-23495	122	2	further	far	ADV
fbem-23495	122	3	foster	foster	VERB
fbem-23495	122	4	the	the	DET
fbem-23495	122	5	growth	growth	NOUN
fbem-23495	122	6	of	of	ADP
fbem-23495	122	7	these	these	DET
fbem-23495	122	8	key	key	ADJ
fbem-23495	122	9	industries	industry	NOUN
fbem-23495	122	10	,	,	PUNCT
fbem-23495	122	11	the	the	DET
fbem-23495	122	12	government	government	NOUN
fbem-23495	122	13	needs	need	VERB
fbem-23495	122	14	to	to	PART
fbem-23495	122	15	intensify	intensify	VERB
fbem-23495	122	16	tax	tax	NOUN
fbem-23495	122	17	incentives	incentive	NOUN
fbem-23495	122	18	for	for	ADP
fbem-23495	122	19	talent	talent	NOUN
fbem-23495	122	20	.	.	PUNCT
fbem-23495	123	1	this	this	PRON
fbem-23495	123	2	not	not	PART
fbem-23495	123	3	only	only	ADV
fbem-23495	123	4	involves	involve	VERB
fbem-23495	123	5	reducing	reduce	VERB
fbem-23495	123	6	personal	personal	ADJ
fbem-23495	123	7	income	income	NOUN
fbem-23495	123	8	tax	tax	NOUN
fbem-23495	123	9	rates	rate	NOUN
fbem-23495	123	10	to	to	PART
fbem-23495	123	11	alleviate	alleviate	VERB
fbem-23495	123	12	the	the	DET
fbem-23495	123	13	tax	tax	NOUN
fbem-23495	123	14	burden	burden	NOUN
fbem-23495	123	15	on	on	ADP
fbem-23495	123	16	talent	talent	NOUN
fbem-23495	123	17	but	but	CCONJ
fbem-23495	123	18	also	also	ADV
fbem-23495	123	19	includes	include	VERB
fbem-23495	123	20	encouraging	encourage	VERB
fbem-23495	123	21	investment	investment	NOUN
fbem-23495	123	22	in	in	ADP
fbem-23495	123	23	education	education	NOUN
fbem-23495	123	24	and	and	CCONJ
fbem-23495	123	25	skill	skill	NOUN
fbem-23495	123	26	training	training	NOUN
fbem-23495	123	27	through	through	ADP
fbem-23495	123	28	tax	tax	NOUN
fbem-23495	123	29	incentives	incentive	NOUN
fbem-23495	123	30	for	for	ADP
fbem-23495	123	31	both	both	DET
fbem-23495	123	32	companies	company	NOUN
fbem-23495	123	33	and	and	CCONJ
fbem-23495	123	34	individuals	individual	NOUN
fbem-23495	123	35	.	.	PUNCT
fbem-23495	124	1	such	such	ADJ
fbem-23495	124	2	policies	policy	NOUN
fbem-23495	124	3	can	can	AUX
fbem-23495	124	4	attract	attract	VERB
fbem-23495	124	5	and	and	CCONJ
fbem-23495	124	6	retain	retain	VERB
fbem-23495	124	7	highly	highly	ADV
fbem-23495	124	8	skilled	skilled	ADJ
fbem-23495	124	9	talent	talent	NOUN
fbem-23495	124	10	while	while	SCONJ
fbem-23495	124	11	stimulating	stimulate	VERB
fbem-23495	124	12	their	their	PRON
fbem-23495	124	13	innovative	innovative	ADJ
fbem-23495	124	14	potential	potential	NOUN
fbem-23495	124	15	,	,	PUNCT
fbem-23495	124	16	providing	provide	VERB
fbem-23495	124	17	sustained	sustained	ADJ
fbem-23495	124	18	momentum	momentum	NOUN
fbem-23495	124	19	for	for	ADP
fbem-23495	124	20	the	the	DET
fbem-23495	124	21	long	long	ADJ
fbem-23495	124	22	-	-	PUNCT
fbem-23495	124	23	term	term	NOUN
fbem-23495	124	24	development	development	NOUN
fbem-23495	124	25	of	of	ADP
fbem-23495	124	26	the	the	DET
fbem-23495	124	27	industry	industry	NOUN
fbem-23495	124	28	.	.	PUNCT
fbem-23495	125	1	when	when	SCONJ
fbem-23495	125	2	formulating	formulate	VERB
fbem-23495	125	3	tax	tax	NOUN
fbem-23495	125	4	incentive	incentive	NOUN
fbem-23495	125	5	policies	policy	NOUN
fbem-23495	125	6	,	,	PUNCT
fbem-23495	125	7	the	the	DET
fbem-23495	125	8	government	government	NOUN
fbem-23495	125	9	should	should	AUX
fbem-23495	125	10	fully	fully	ADV
fbem-23495	125	11	consider	consider	VERB
fbem-23495	125	12	the	the	DET
fbem-23495	125	13	fairness	fairness	NOUN
fbem-23495	125	14	and	and	CCONJ
fbem-23495	125	15	sustainability	sustainability	NOUN
fbem-23495	125	16	of	of	ADP
fbem-23495	125	17	these	these	DET
fbem-23495	125	18	policies	policy	NOUN
fbem-23495	125	19	.	.	PUNCT
fbem-23495	126	1	ensuring	ensure	VERB
fbem-23495	126	2	that	that	SCONJ
fbem-23495	126	3	policies	policy	NOUN
fbem-23495	126	4	meet	meet	VERB
fbem-23495	126	5	current	current	ADJ
fbem-23495	126	6	development	development	NOUN
fbem-23495	126	7	needs	need	NOUN
fbem-23495	126	8	without	without	ADP
fbem-23495	126	9	adversely	adversely	ADV
fbem-23495	126	10	affecting	affect	VERB
fbem-23495	126	11	future	future	ADJ
fbem-23495	126	12	fiscal	fiscal	ADJ
fbem-23495	126	13	health	health	NOUN
fbem-23495	126	14	is	be	AUX
fbem-23495	126	15	crucial	crucial	ADJ
fbem-23495	126	16	.	.	PUNCT
fbem-23495	127	1	additionally	additionally	ADV
fbem-23495	127	2	,	,	PUNCT
fbem-23495	127	3	tax	tax	NOUN
fbem-23495	127	4	incentive	incentive	NOUN
fbem-23495	127	5	policies	policy	NOUN
fbem-23495	127	6	should	should	AUX
fbem-23495	127	7	be	be	AUX
fbem-23495	127	8	integrated	integrate	VERB
fbem-23495	127	9	with	with	ADP
fbem-23495	127	10	the	the	DET
fbem-23495	127	11	overall	overall	ADJ
fbem-23495	127	12	industrial	industrial	ADJ
fbem-23495	127	13	development	development	NOUN
fbem-23495	127	14	strategy	strategy	NOUN
fbem-23495	127	15	to	to	PART
fbem-23495	127	16	create	create	VERB
fbem-23495	127	17	synergistic	synergistic	ADJ
fbem-23495	127	18	effects	effect	NOUN
fbem-23495	127	19	that	that	PRON
fbem-23495	127	20	promote	promote	VERB
fbem-23495	127	21	industrial	industrial	ADJ
fbem-23495	127	22	upgrading	upgrading	NOUN
fbem-23495	127	23	and	and	CCONJ
fbem-23495	127	24	optimize	optimize	VERB
fbem-23495	127	25	the	the	DET
fbem-23495	127	26	economic	economic	ADJ
fbem-23495	127	27	structure	structure	NOUN
fbem-23495	127	28	.	.	PUNCT
fbem-23495	128	1	through	through	ADP
fbem-23495	128	2	these	these	DET
fbem-23495	128	3	measures	measure	NOUN
fbem-23495	128	4	,	,	PUNCT
fbem-23495	128	5	the	the	DET
fbem-23495	128	6	government	government	NOUN
fbem-23495	128	7	can	can	AUX
fbem-23495	128	8	effectively	effectively	ADV
fbem-23495	128	9	support	support	VERB
fbem-23495	128	10	the	the	DET
fbem-23495	128	11	development	development	NOUN
fbem-23495	128	12	of	of	ADP
fbem-23495	128	13	high	high	ADJ
fbem-23495	128	14	-	-	PUNCT
fbem-23495	128	15	tech	tech	NOUN
fbem-23495	128	16	industries	industry	NOUN
fbem-23495	128	17	and	and	CCONJ
fbem-23495	128	18	manufacturing	manufacturing	NOUN
fbem-23495	128	19	while	while	SCONJ
fbem-23495	128	20	ensuring	ensure	VERB
fbem-23495	128	21	the	the	DET
fbem-23495	128	22	fairness	fairness	NOUN
fbem-23495	128	23	and	and	CCONJ
fbem-23495	128	24	sustainability	sustainability	NOUN
fbem-23495	128	25	of	of	ADP
fbem-23495	128	26	talent	talent	NOUN
fbem-23495	128	27	policies	policy	NOUN
fbem-23495	128	28	,	,	PUNCT
fbem-23495	128	29	injecting	inject	VERB
fbem-23495	128	30	lasting	last	VERB
fbem-23495	128	31	momentum	momentum	NOUN
fbem-23495	128	32	into	into	ADP
fbem-23495	128	33	the	the	DET
fbem-23495	128	34	nation	nation	NOUN
fbem-23495	128	35	's	's	PART
fbem-23495	128	36	long	long	ADJ
fbem-23495	128	37	-	-	PUNCT
fbem-23495	128	38	term	term	NOUN
fbem-23495	128	39	economic	economic	ADJ
fbem-23495	128	40	growth	growth	NOUN
fbem-23495	128	41	.	.	PUNCT
fbem-23495	129	1	references	reference	NOUN
fbem-23495	129	2	[	[	X
fbem-23495	129	3	1	1	NUM
fbem-23495	129	4	]	]	PUNCT
fbem-23495	129	5	yu	yu	PROPN
fbem-23495	129	6	,	,	PUNCT
fbem-23495	129	7	s.	s.	PROPN
fbem-23495	129	8	,	,	PUNCT
fbem-23495	129	9	zhang	zhang	PROPN
fbem-23495	129	10	,	,	PUNCT
fbem-23495	129	11	r.	r.	PROPN
fbem-23495	129	12	,	,	PUNCT
fbem-23495	129	13	jiang	jiang	PROPN
fbem-23495	129	14	,	,	PUNCT
fbem-23495	129	15	s.	s.	PROPN
fbem-23495	129	16	,	,	PUNCT
fbem-23495	129	17	lv	lv	PROPN
fbem-23495	129	18	,	,	PUNCT
fbem-23495	129	19	j.	j.	PROPN
fbem-23495	129	20	(	(	PUNCT
fbem-23495	129	21	2016	2016	NUM
fbem-23495	129	22	)	)	PUNCT
fbem-23495	129	23	.	.	PUNCT
fbem-23495	130	1	the	the	DET
fbem-23495	130	2	impact	impact	NOUN
fbem-23495	130	3	of	of	ADP
fbem-23495	130	4	tax	tax	NOUN
fbem-23495	130	5	incentive	incentive	NOUN
fbem-23495	130	6	policies	policy	NOUN
fbem-23495	130	7	on	on	ADP
fbem-23495	130	8	performance	performance	NOUN
fbem-23495	130	9	of	of	ADP
fbem-23495	130	10	agricultural	agricultural	ADJ
fbem-23495	130	11	listed	list	VERB
fbem-23495	130	12	companies	company	NOUN
fbem-23495	130	13	.	.	PUNCT
fbem-23495	131	1	enterprise	enterprise	NOUN
fbem-23495	131	2	technology	technology	NOUN
fbem-23495	131	3	development	development	NOUN
fbem-23495	131	4	,	,	PUNCT
fbem-23495	131	5	35(02	35(02	NUM
fbem-23495	131	6	)	)	PUNCT
fbem-23495	131	7	,	,	PUNCT
fbem-23495	132	1	109	109	NUM
fbem-23495	132	2	+	+	ADJ
fbem-23495	132	3	111.w.-k	111.w.-k	PROPN
fbem-23495	132	4	.	.	PUNCT
fbem-23495	133	1	chen	chen	PROPN
fbem-23495	133	2	,	,	PUNCT
fbem-23495	133	3	linear	linear	PROPN
fbem-23495	133	4	networks	network	NOUN
fbem-23495	133	5	and	and	CCONJ
fbem-23495	133	6	systems	system	NOUN
fbem-23495	133	7	(	(	PUNCT
fbem-23495	133	8	book	book	NOUN
fbem-23495	133	9	style	style	NOUN
fbem-23495	133	10	)	)	PUNCT
fbem-23495	133	11	.	.	PUNCT
fbem-23495	134	1	belmont	belmont	PROPN
fbem-23495	134	2	,	,	PUNCT
fbem-23495	134	3	ca	can	AUX
fbem-23495	134	4	:	:	PUNCT
fbem-23495	134	5	wadsworth	wadsworth	NOUN
fbem-23495	134	6	,	,	PUNCT
fbem-23495	134	7	1993	1993	NUM
fbem-23495	134	8	,	,	PUNCT
fbem-23495	134	9	pp	pp	ADP
fbem-23495	134	10	.	.	PUNCT
fbem-23495	135	1	123–135	123–135	NUM
fbem-23495	135	2	.	.	PUNCT
fbem-23495	136	1	[	[	X
fbem-23495	136	2	2	2	NUM
fbem-23495	136	3	]	]	X
fbem-23495	136	4	xue	xue	PROPN
fbem-23495	136	5	,	,	PUNCT
fbem-23495	136	6	g.	g.	PROPN
fbem-23495	136	7	,	,	PUNCT
fbem-23495	136	8	zhang	zhang	PROPN
fbem-23495	136	9	,	,	PUNCT
fbem-23495	136	10	d.	d.	PROPN
fbem-23495	136	11	,	,	PUNCT
fbem-23495	136	12	wang	wang	PROPN
fbem-23495	136	13	,	,	PUNCT
fbem-23495	136	14	w.	w.	PROPN
fbem-23495	136	15	(	(	PUNCT
fbem-23495	136	16	2019	2019	NUM
fbem-23495	136	17	)	)	PUNCT
fbem-23495	136	18	.	.	PUNCT
fbem-23495	137	1	the	the	DET
fbem-23495	137	2	incentive	incentive	NOUN
fbem-23495	137	3	effect	effect	NOUN
fbem-23495	137	4	of	of	ADP
fbem-23495	137	5	r&d	r&d	NOUN
fbem-23495	137	6	super	super	PROPN
fbem-23495	137	7	deduction	deduction	NOUN
fbem-23495	137	8	tax	tax	NOUN
fbem-23495	137	9	incentives	incentive	NOUN
fbem-23495	137	10	on	on	ADP
fbem-23495	137	11	total	total	ADJ
fbem-23495	137	12	factor	factor	NOUN
fbem-23495	137	13	productivity	productivity	NOUN
fbem-23495	137	14	of	of	ADP
fbem-23495	137	15	enterprises	enterprise	NOUN
fbem-23495	137	16	.	.	PUNCT
fbem-23495	138	1	journal	journal	PROPN
fbem-23495	138	2	of	of	ADP
fbem-23495	138	3	yunnan	yunnan	PROPN
fbem-23495	138	4	university	university	PROPN
fbem-23495	138	5	of	of	ADP
fbem-23495	138	6	finance	finance	NOUN
fbem-23495	138	7	and	and	CCONJ
fbem-23495	138	8	economics	economic	NOUN
fbem-23495	138	9	,	,	PUNCT
fbem-23495	138	10	35(08	35(08	NUM
fbem-23495	138	11	)	)	PUNCT
fbem-23495	138	12	,	,	PUNCT
fbem-23495	138	13	102	102	NUM
fbem-23495	138	14	-	-	SYM
fbem-23495	138	15	112.b	112.b	NUM
fbem-23495	138	16	.	.	PUNCT
fbem-23495	139	1	smith	smith	PROPN
fbem-23495	139	2	,	,	PUNCT
fbem-23495	139	3	“	"	PUNCT
fbem-23495	139	4	an	an	DET
fbem-23495	139	5	approach	approach	NOUN
fbem-23495	139	6	to	to	ADP
fbem-23495	139	7	graphs	graph	NOUN
fbem-23495	139	8	of	of	ADP
fbem-23495	139	9	linear	linear	ADJ
fbem-23495	139	10	forms	form	NOUN
fbem-23495	139	11	(	(	PUNCT
fbem-23495	139	12	unpublished	unpublished	ADJ
fbem-23495	139	13	work	work	NOUN
fbem-23495	139	14	style	style	NOUN
fbem-23495	139	15	)	)	PUNCT
fbem-23495	139	16	,	,	PUNCT
fbem-23495	139	17	”	"	PUNCT
fbem-23495	139	18	unpublished	unpublished	ADJ
fbem-23495	139	19	.	.	PUNCT
fbem-23495	140	1	[	[	X
fbem-23495	140	2	3	3	NUM
fbem-23495	140	3	]	]	X
fbem-23495	140	4	tang	tang	PROPN
fbem-23495	140	5	,	,	PUNCT
fbem-23495	140	6	h.	h.	PROPN
fbem-23495	140	7	,	,	PUNCT
fbem-23495	140	8	li	li	PROPN
fbem-23495	140	9	,	,	PUNCT
fbem-23495	140	10	y.	y.	PROPN
fbem-23495	140	11	(	(	PUNCT
fbem-23495	140	12	2020	2020	NUM
fbem-23495	140	13	)	)	PUNCT
fbem-23495	140	14	.	.	PUNCT
fbem-23495	141	1	tax	tax	NOUN
fbem-23495	141	2	incentives	incentive	NOUN
fbem-23495	141	3	and	and	CCONJ
fbem-23495	141	4	corporate	corporate	ADJ
fbem-23495	141	5	performance	performance	NOUN
fbem-23495	141	6	:	:	PUNCT
fbem-23495	141	7	the	the	DET
fbem-23495	141	8	moderating	moderate	VERB
fbem-23495	141	9	effect	effect	NOUN
fbem-23495	141	10	of	of	ADP
fbem-23495	141	11	business	business	NOUN
fbem-23495	141	12	environment	environment	NOUN
fbem-23495	141	13	and	and	CCONJ
fbem-23495	141	14	corporate	corporate	ADJ
fbem-23495	141	15	nature	nature	NOUN
fbem-23495	141	16	.	.	PUNCT
fbem-23495	142	1	taxation	taxation	NOUN
fbem-23495	142	2	research	research	NOUN
fbem-23495	142	3	,	,	PUNCT
fbem-23495	142	4	(	(	PUNCT
fbem-23495	142	5	12	12	NUM
fbem-23495	142	6	)	)	PUNCT
fbem-23495	142	7	,	,	PUNCT
fbem-23495	142	8	115	115	NUM
fbem-23495	142	9	-	-	SYM
fbem-23495	142	10	121	121	NUM
fbem-23495	142	11	.	.	PUNCT
fbem-23495	143	1	[	[	X
fbem-23495	143	2	4	4	NUM
fbem-23495	143	3	]	]	X
fbem-23495	143	4	cai	cai	X
fbem-23495	143	5	,	,	PUNCT
fbem-23495	143	6	c.	c.	PROPN
fbem-23495	143	7	,	,	PUNCT
fbem-23495	143	8	tian	tian	PROPN
fbem-23495	143	9	,	,	PUNCT
fbem-23495	143	10	y.	y.	PROPN
fbem-23495	143	11	(	(	PUNCT
fbem-23495	143	12	2017	2017	NUM
fbem-23495	143	13	)	)	PUNCT
fbem-23495	143	14	.	.	PUNCT
fbem-23495	144	1	study	study	NOUN
fbem-23495	144	2	on	on	ADP
fbem-23495	144	3	the	the	DET
fbem-23495	144	4	relationship	relationship	NOUN
fbem-23495	144	5	between	between	ADP
fbem-23495	144	6	property	property	NOUN
fbem-23495	144	7	rights	right	NOUN
fbem-23495	144	8	,	,	PUNCT
fbem-23495	144	9	tax	tax	NOUN
fbem-23495	144	10	burden	burden	NOUN
fbem-23495	144	11	,	,	PUNCT
fbem-23495	144	12	and	and	CCONJ
fbem-23495	144	13	corporate	corporate	ADJ
fbem-23495	144	14	financial	financial	ADJ
fbem-23495	144	15	performance	performance	NOUN
fbem-23495	144	16	.	.	PUNCT
fbem-23495	145	1	taxation	taxation	NOUN
fbem-23495	145	2	research	research	NOUN
fbem-23495	145	3	,	,	PUNCT
fbem-23495	145	4	(	(	PUNCT
fbem-23495	145	5	06	06	NUM
fbem-23495	145	6	)	)	PUNCT
fbem-23495	145	7	,	,	PUNCT
fbem-23495	145	8	9	9	NUM
fbem-23495	145	9	-	-	SYM
fbem-23495	145	10	14	14	NUM
fbem-23495	145	11	.	.	PUNCT
fbem-23495	146	1	[	[	X
fbem-23495	146	2	5	5	NUM
fbem-23495	146	3	]	]	X
fbem-23495	146	4	sun	sun	NOUN
fbem-23495	146	5	,	,	PUNCT
fbem-23495	146	6	y.	y.	PROPN
fbem-23495	146	7	(	(	PUNCT
fbem-23495	146	8	2015	2015	NUM
fbem-23495	146	9	)	)	PUNCT
fbem-23495	146	10	.	.	PUNCT
fbem-23495	147	1	empirical	empirical	ADJ
fbem-23495	147	2	study	study	NOUN
fbem-23495	147	3	on	on	ADP
fbem-23495	147	4	the	the	DET
fbem-23495	147	5	impact	impact	NOUN
fbem-23495	147	6	of	of	ADP
fbem-23495	147	7	tax	tax	NOUN
fbem-23495	147	8	policies	policy	NOUN
fbem-23495	147	9	on	on	ADP
fbem-23495	147	10	corporate	corporate	ADJ
fbem-23495	147	11	innovation	innovation	NOUN
fbem-23495	147	12	performance	performance	NOUN
fbem-23495	147	13	.	.	PUNCT
fbem-23495	148	1	journal	journal	PROPN
fbem-23495	148	2	of	of	ADP
fbem-23495	148	3	shanghai	shanghai	PROPN
fbem-23495	148	4	economic	economic	PROPN
fbem-23495	148	5	and	and	CCONJ
fbem-23495	148	6	management	management	NOUN
fbem-23495	148	7	cadres	cadres	PROPN
fbem-23495	148	8	college	college	PROPN
fbem-23495	148	9	,	,	PUNCT
fbem-23495	148	10	13(04	13(04	NUM
fbem-23495	148	11	)	)	PUNCT
fbem-23495	148	12	,	,	PUNCT
fbem-23495	148	13	46	46	NUM
fbem-23495	148	14	-	-	SYM
fbem-23495	148	15	56	56	NUM
fbem-23495	148	16	.	.	PUNCT
fbem-23495	149	1	[	[	X
fbem-23495	149	2	6	6	NUM
fbem-23495	149	3	]	]	X
fbem-23495	149	4	chen	chen	PROPN
fbem-23495	149	5	,	,	PUNCT
fbem-23495	149	6	l.	l.	PROPN
fbem-23495	149	7	(	(	PUNCT
fbem-23495	149	8	2022	2022	NUM
fbem-23495	149	9	)	)	PUNCT
fbem-23495	149	10	.	.	PUNCT
fbem-23495	150	1	exploration	exploration	NOUN
fbem-23495	150	2	of	of	ADP
fbem-23495	150	3	the	the	DET
fbem-23495	150	4	construction	construction	NOUN
fbem-23495	150	5	of	of	ADP
fbem-23495	150	6	financial	financial	ADJ
fbem-23495	150	7	performance	performance	NOUN
fbem-23495	150	8	evaluation	evaluation	NOUN
fbem-23495	150	9	system	system	NOUN
fbem-23495	150	10	in	in	ADP
fbem-23495	150	11	enterprises	enterprise	NOUN
fbem-23495	150	12	.	.	PUNCT
fbem-23495	151	1	modern	modern	ADJ
fbem-23495	151	2	business	business	NOUN
fbem-23495	151	3	,	,	PUNCT
fbem-23495	151	4	(	(	PUNCT
fbem-23495	151	5	33	33	NUM
fbem-23495	151	6	)	)	PUNCT
fbem-23495	151	7	,	,	PUNCT
fbem-23495	151	8	29	29	NUM
fbem-23495	151	9	-	-	SYM
fbem-23495	151	10	31	31	NUM
fbem-23495	151	11	.	.	PUNCT
fbem-23495	152	1	[	[	X
fbem-23495	152	2	7	7	NUM
fbem-23495	152	3	]	]	X
fbem-23495	152	4	gao	gao	PROPN
fbem-23495	152	5	,	,	PUNCT
fbem-23495	152	6	p.	p.	NOUN
fbem-23495	152	7	(	(	PUNCT
fbem-23495	152	8	2022	2022	NUM
fbem-23495	152	9	)	)	PUNCT
fbem-23495	152	10	.	.	PUNCT
fbem-23495	153	1	the	the	DET
fbem-23495	153	2	impact	impact	NOUN
fbem-23495	153	3	of	of	ADP
fbem-23495	153	4	r&d	r&d	NOUN
fbem-23495	153	5	tax	tax	NOUN
fbem-23495	153	6	incentives	incentive	NOUN
fbem-23495	153	7	on	on	ADP
fbem-23495	153	8	corporate	corporate	ADJ
fbem-23495	153	9	operating	operating	NOUN
fbem-23495	153	10	performance	performance	NOUN
fbem-23495	153	11	.	.	PUNCT
fbem-23495	154	1	shandong	shandong	PROPN
fbem-23495	154	2	university	university	PROPN
fbem-23495	154	3	of	of	ADP
fbem-23495	154	4	finance	finance	NOUN
fbem-23495	154	5	and	and	CCONJ
fbem-23495	154	6	economics	economic	NOUN
fbem-23495	154	7	,	,	PUNCT
fbem-23495	154	8	dissertation	dissertation	NOUN
fbem-23495	154	9	.	.	PUNCT
fbem-23495	155	1	[	[	X
fbem-23495	155	2	8	8	NUM
fbem-23495	155	3	]	]	X
fbem-23495	155	4	peng	peng	PROPN
fbem-23495	155	5	,	,	PUNCT
fbem-23495	155	6	f.	f.	PROPN
fbem-23495	155	7	,	,	PUNCT
fbem-23495	155	8	fan	fan	PROPN
fbem-23495	155	9	,	,	PUNCT
fbem-23495	155	10	z.	z.	PROPN
fbem-23495	155	11	(	(	PUNCT
fbem-23495	155	12	2016	2016	NUM
fbem-23495	155	13	)	)	PUNCT
fbem-23495	155	14	.	.	PUNCT
fbem-23495	156	1	tax	tax	NOUN
fbem-23495	156	2	incentives	incentive	NOUN
fbem-23495	156	3	,	,	PUNCT
fbem-23495	156	4	donation	donation	NOUN
fbem-23495	156	5	costs	cost	NOUN
fbem-23495	156	6	,	,	PUNCT
fbem-23495	156	7	and	and	CCONJ
fbem-23495	156	8	corporate	corporate	ADJ
fbem-23495	156	9	donations	donation	NOUN
fbem-23495	156	10	.	.	PUNCT
fbem-23495	157	1	world	world	NOUN
fbem-23495	157	2	economy	economy	NOUN
fbem-23495	157	3	,	,	PUNCT
fbem-23495	157	4	39(07	39(07	NUM
fbem-23495	157	5	)	)	PUNCT
fbem-23495	157	6	,	,	PUNCT
fbem-23495	157	7	144	144	NUM
fbem-23495	157	8	-	-	SYM
fbem-23495	157	9	167	167	NUM
fbem-23495	157	10	.	.	PUNCT
fbem-23495	158	1	[	[	X
fbem-23495	158	2	9	9	NUM
fbem-23495	158	3	]	]	X
fbem-23495	158	4	gao	gao	PROPN
fbem-23495	158	5	,	,	PUNCT
fbem-23495	158	6	x.	x.	PROPN
fbem-23495	158	7	,	,	PUNCT
fbem-23495	158	8	zhang	zhang	PROPN
fbem-23495	158	9	,	,	PUNCT
fbem-23495	158	10	x.	x.	NOUN
fbem-23495	158	11	(	(	PUNCT
fbem-23495	158	12	2020	2020	NUM
fbem-23495	158	13	)	)	PUNCT
fbem-23495	158	14	.	.	PUNCT
fbem-23495	159	1	study	study	NOUN
fbem-23495	159	2	on	on	ADP
fbem-23495	159	3	the	the	DET
fbem-23495	159	4	impact	impact	NOUN
fbem-23495	159	5	of	of	ADP
fbem-23495	159	6	tax	tax	NOUN
fbem-23495	159	7	incentives	incentive	NOUN
fbem-23495	159	8	on	on	ADP
fbem-23495	159	9	innovation	innovation	NOUN
fbem-23495	159	10	performance	performance	NOUN
fbem-23495	159	11	of	of	ADP
fbem-23495	159	12	new	new	ADJ
fbem-23495	159	13	energy	energy	NOUN
fbem-23495	159	14	enterprises	enterprise	NOUN
fbem-23495	159	15	.	.	PUNCT
fbem-23495	160	1	journal	journal	PROPN
fbem-23495	160	2	of	of	ADP
fbem-23495	160	3	china	china	PROPN
fbem-23495	160	4	university	university	PROPN
fbem-23495	160	5	of	of	ADP
fbem-23495	160	6	petroleum	petroleum	NOUN
fbem-23495	160	7	(	(	PUNCT
fbem-23495	160	8	social	social	ADJ
fbem-23495	160	9	sciences	science	NOUN
fbem-23495	160	10	edition	edition	NOUN
fbem-23495	160	11	)	)	PUNCT
fbem-23495	160	12	,	,	PUNCT
fbem-23495	160	13	36(06	36(06	NUM
fbem-23495	160	14	)	)	PUNCT
fbem-23495	160	15	,	,	PUNCT
fbem-23495	160	16	1	1	NUM
fbem-23495	160	17	-	-	SYM
fbem-23495	160	18	10	10	NUM
fbem-23495	160	19	.	.	PUNCT