id	sid	tid	token	lemma	pos
fbem-24785	1	1	frontiers	frontier	NOUN
fbem-24785	1	2	in	in	ADP
fbem-24785	1	3	business	business	NOUN
fbem-24785	1	4	,	,	PUNCT
fbem-24785	1	5	economics	economic	NOUN
fbem-24785	1	6	and	and	CCONJ
fbem-24785	1	7	management	management	NOUN
fbem-24785	1	8	issn	issn	PROPN
fbem-24785	1	9	:	:	PUNCT
fbem-24785	1	10	2766	2766	NUM
fbem-24785	1	11	-	-	PUNCT
fbem-24785	1	12	824x	824x	NUM
fbem-24785	1	13	|	|	ADJ
fbem-24785	1	14	vol	vol	NOUN
fbem-24785	1	15	.	.	PUNCT
fbem-24785	2	1	16	16	NUM
fbem-24785	2	2	,	,	PUNCT
fbem-24785	2	3	no	no	INTJ
fbem-24785	2	4	.	.	NOUN
fbem-24785	2	5	1	1	NUM
fbem-24785	2	6	,	,	PUNCT
fbem-24785	2	7	2024	2024	NUM
fbem-24785	2	8	406	406	NUM
fbem-24785	2	9	economic	economic	ADJ
fbem-24785	2	10	policy	policy	NOUN
fbem-24785	2	11	uncertainty	uncertainty	NOUN
fbem-24785	2	12	,	,	PUNCT
fbem-24785	2	13	financing	financing	NOUN
fbem-24785	2	14	model	model	NOUN
fbem-24785	2	15	and	and	CCONJ
fbem-24785	2	16	financial	financial	ADJ
fbem-24785	2	17	fragility	fragility	NOUN
fbem-24785	2	18	ping	ping	PROPN
fbem-24785	2	19	zhang	zhang	PROPN
fbem-24785	2	20	accounting	accounting	PROPN
fbem-24785	2	21	department	department	PROPN
fbem-24785	2	22	,	,	PUNCT
fbem-24785	2	23	anhui	anhui	PROPN
fbem-24785	2	24	university	university	PROPN
fbem-24785	2	25	of	of	ADP
fbem-24785	2	26	technology	technology	NOUN
fbem-24785	2	27	,	,	PUNCT
fbem-24785	2	28	ma’anshan	ma’anshan	ADV
fbem-24785	2	29	,	,	PUNCT
fbem-24785	2	30	co	co	NOUN
fbem-24785	2	31	243000	243000	NUM
fbem-24785	2	32	,	,	PUNCT
fbem-24785	2	33	china	china	PROPN
fbem-24785	2	34	abstract	abstract	NOUN
fbem-24785	2	35	:	:	PUNCT
fbem-24785	2	36	based	base	VERB
fbem-24785	2	37	on	on	ADP
fbem-24785	2	38	the	the	DET
fbem-24785	2	39	study	study	NOUN
fbem-24785	2	40	of	of	ADP
fbem-24785	2	41	different	different	ADJ
fbem-24785	2	42	financing	financing	NOUN
fbem-24785	2	43	models	model	NOUN
fbem-24785	2	44	,	,	PUNCT
fbem-24785	2	45	this	this	DET
fbem-24785	2	46	paper	paper	NOUN
fbem-24785	2	47	discusses	discuss	VERB
fbem-24785	2	48	that	that	SCONJ
fbem-24785	2	49	different	different	ADJ
fbem-24785	2	50	financing	financing	NOUN
fbem-24785	2	51	models	model	NOUN
fbem-24785	2	52	in	in	ADP
fbem-24785	2	53	china	china	PROPN
fbem-24785	2	54	's	's	PART
fbem-24785	2	55	capital	capital	NOUN
fbem-24785	2	56	market	market	NOUN
fbem-24785	2	57	have	have	VERB
fbem-24785	2	58	different	different	ADJ
fbem-24785	2	59	regulatory	regulatory	ADJ
fbem-24785	2	60	effects	effect	NOUN
fbem-24785	2	61	on	on	ADP
fbem-24785	2	62	the	the	DET
fbem-24785	2	63	relationship	relationship	NOUN
fbem-24785	2	64	between	between	ADP
fbem-24785	2	65	economic	economic	ADJ
fbem-24785	2	66	policy	policy	NOUN
fbem-24785	2	67	uncertainty	uncertainty	NOUN
fbem-24785	2	68	and	and	CCONJ
fbem-24785	2	69	financial	financial	ADJ
fbem-24785	2	70	vulnerability	vulnerability	NOUN
fbem-24785	2	71	.	.	PUNCT
fbem-24785	3	1	the	the	DET
fbem-24785	3	2	study	study	NOUN
fbem-24785	3	3	found	find	VERB
fbem-24785	3	4	that	that	SCONJ
fbem-24785	3	5	economic	economic	ADJ
fbem-24785	3	6	policy	policy	NOUN
fbem-24785	3	7	uncertainty	uncertainty	NOUN
fbem-24785	3	8	has	have	VERB
fbem-24785	3	9	a	a	DET
fbem-24785	3	10	significant	significant	ADJ
fbem-24785	3	11	role	role	NOUN
fbem-24785	3	12	in	in	ADP
fbem-24785	3	13	promoting	promote	VERB
fbem-24785	3	14	corporate	corporate	ADJ
fbem-24785	3	15	financial	financial	ADJ
fbem-24785	3	16	vulnerability	vulnerability	NOUN
fbem-24785	3	17	,	,	PUNCT
fbem-24785	3	18	while	while	SCONJ
fbem-24785	3	19	bank	bank	NOUN
fbem-24785	3	20	loans	loan	NOUN
fbem-24785	3	21	and	and	CCONJ
fbem-24785	3	22	credit	credit	NOUN
fbem-24785	3	23	claims	claim	NOUN
fbem-24785	3	24	have	have	VERB
fbem-24785	3	25	a	a	DET
fbem-24785	3	26	significant	significant	ADJ
fbem-24785	3	27	mitigation	mitigation	NOUN
fbem-24785	3	28	effect	effect	NOUN
fbem-24785	3	29	on	on	ADP
fbem-24785	3	30	the	the	DET
fbem-24785	3	31	relationship	relationship	NOUN
fbem-24785	3	32	between	between	ADP
fbem-24785	3	33	economic	economic	ADJ
fbem-24785	3	34	policy	policy	NOUN
fbem-24785	3	35	uncertainty	uncertainty	NOUN
fbem-24785	3	36	and	and	CCONJ
fbem-24785	3	37	financial	financial	ADJ
fbem-24785	3	38	vulnerability	vulnerability	NOUN
fbem-24785	3	39	,	,	PUNCT
fbem-24785	3	40	while	while	SCONJ
fbem-24785	3	41	the	the	DET
fbem-24785	3	42	mitigation	mitigation	NOUN
fbem-24785	3	43	effect	effect	NOUN
fbem-24785	3	44	of	of	ADP
fbem-24785	3	45	bond	bond	NOUN
fbem-24785	3	46	claims	claim	NOUN
fbem-24785	3	47	is	be	AUX
fbem-24785	3	48	not	not	PART
fbem-24785	3	49	obvious	obvious	ADJ
fbem-24785	3	50	.	.	PUNCT
fbem-24785	4	1	this	this	DET
fbem-24785	4	2	paper	paper	NOUN
fbem-24785	4	3	verifies	verify	VERB
fbem-24785	4	4	the	the	DET
fbem-24785	4	5	impact	impact	NOUN
fbem-24785	4	6	of	of	ADP
fbem-24785	4	7	different	different	ADJ
fbem-24785	4	8	financing	financing	NOUN
fbem-24785	4	9	modes	mode	NOUN
fbem-24785	4	10	on	on	ADP
fbem-24785	4	11	economic	economic	ADJ
fbem-24785	4	12	policy	policy	NOUN
fbem-24785	4	13	uncertainty	uncertainty	NOUN
fbem-24785	4	14	and	and	CCONJ
fbem-24785	4	15	financial	financial	ADJ
fbem-24785	4	16	vulnerability	vulnerability	NOUN
fbem-24785	4	17	in	in	ADP
fbem-24785	4	18	china	china	PROPN
fbem-24785	4	19	's	's	PART
fbem-24785	4	20	capital	capital	NOUN
fbem-24785	4	21	market	market	NOUN
fbem-24785	4	22	,	,	PUNCT
fbem-24785	4	23	and	and	CCONJ
fbem-24785	4	24	puts	put	VERB
fbem-24785	4	25	forward	forward	ADV
fbem-24785	4	26	policy	policy	NOUN
fbem-24785	4	27	suggestions	suggestion	NOUN
fbem-24785	4	28	for	for	ADP
fbem-24785	4	29	improving	improve	VERB
fbem-24785	4	30	corporate	corporate	ADJ
fbem-24785	4	31	financing	financing	NOUN
fbem-24785	4	32	channels	channel	NOUN
fbem-24785	4	33	and	and	CCONJ
fbem-24785	4	34	expanding	expand	VERB
fbem-24785	4	35	financing	financing	NOUN
fbem-24785	4	36	scale	scale	NOUN
fbem-24785	4	37	.	.	PUNCT
fbem-24785	5	1	keywords	keyword	NOUN
fbem-24785	5	2	:	:	PUNCT
fbem-24785	5	3	economic	economic	ADJ
fbem-24785	5	4	policy	policy	NOUN
fbem-24785	5	5	uncertainty	uncertainty	NOUN
fbem-24785	5	6	,	,	PUNCT
fbem-24785	5	7	financing	financing	NOUN
fbem-24785	5	8	mode	mode	NOUN
fbem-24785	5	9	,	,	PUNCT
fbem-24785	5	10	financial	financial	ADJ
fbem-24785	5	11	vulnerability	vulnerability	NOUN
fbem-24785	5	12	.	.	PUNCT
fbem-24785	6	1	1	1	X
fbem-24785	6	2	.	.	X
fbem-24785	6	3	introduction	introduction	NOUN
fbem-24785	6	4	with	with	ADP
fbem-24785	6	5	the	the	DET
fbem-24785	6	6	rise	rise	NOUN
fbem-24785	6	7	of	of	ADP
fbem-24785	6	8	the	the	DET
fbem-24785	6	9	anti	anti	ADJ
fbem-24785	6	10	-	-	ADJ
fbem-24785	6	11	globalization	globalization	ADJ
fbem-24785	6	12	trend	trend	NOUN
fbem-24785	6	13	and	and	CCONJ
fbem-24785	6	14	the	the	DET
fbem-24785	6	15	outbreak	outbreak	NOUN
fbem-24785	6	16	of	of	ADP
fbem-24785	6	17	the	the	DET
fbem-24785	6	18	new	new	ADJ
fbem-24785	6	19	coronavirus	coronavirus	NOUN
fbem-24785	6	20	epidemic	epidemic	NOUN
fbem-24785	6	21	,	,	PUNCT
fbem-24785	6	22	china	china	PROPN
fbem-24785	6	23	's	's	PART
fbem-24785	6	24	economic	economic	ADJ
fbem-24785	6	25	development	development	NOUN
fbem-24785	6	26	has	have	AUX
fbem-24785	6	27	been	be	AUX
fbem-24785	6	28	greatly	greatly	ADV
fbem-24785	6	29	impacted	impact	VERB
fbem-24785	6	30	,	,	PUNCT
fbem-24785	6	31	which	which	PRON
fbem-24785	6	32	has	have	AUX
fbem-24785	6	33	also	also	ADV
fbem-24785	6	34	brought	bring	VERB
fbem-24785	6	35	severe	severe	ADJ
fbem-24785	6	36	challenges	challenge	NOUN
fbem-24785	6	37	to	to	ADP
fbem-24785	6	38	the	the	DET
fbem-24785	6	39	operation	operation	NOUN
fbem-24785	6	40	and	and	CCONJ
fbem-24785	6	41	finance	finance	NOUN
fbem-24785	6	42	of	of	ADP
fbem-24785	6	43	enterprises	enterprise	NOUN
fbem-24785	6	44	.	.	PUNCT
fbem-24785	7	1	the	the	DET
fbem-24785	7	2	problem	problem	NOUN
fbem-24785	7	3	of	of	ADP
fbem-24785	7	4	corporate	corporate	ADJ
fbem-24785	7	5	debt	debt	NOUN
fbem-24785	7	6	default	default	NOUN
fbem-24785	7	7	has	have	AUX
fbem-24785	7	8	become	become	VERB
fbem-24785	7	9	one	one	NUM
fbem-24785	7	10	of	of	ADP
fbem-24785	7	11	the	the	DET
fbem-24785	7	12	hot	hot	ADJ
fbem-24785	7	13	spots	spot	NOUN
fbem-24785	7	14	of	of	ADP
fbem-24785	7	15	economic	economic	ADJ
fbem-24785	7	16	development	development	NOUN
fbem-24785	7	17	and	and	CCONJ
fbem-24785	7	18	has	have	AUX
fbem-24785	7	19	received	receive	VERB
fbem-24785	7	20	extensive	extensive	ADJ
fbem-24785	7	21	attention	attention	NOUN
fbem-24785	7	22	from	from	ADP
fbem-24785	7	23	the	the	DET
fbem-24785	7	24	whole	whole	ADJ
fbem-24785	7	25	society	society	NOUN
fbem-24785	7	26	.	.	PUNCT
fbem-24785	8	1	according	accord	VERB
fbem-24785	8	2	to	to	ADP
fbem-24785	8	3	wind	wind	NOUN
fbem-24785	8	4	statistics	statistic	NOUN
fbem-24785	8	5	,	,	PUNCT
fbem-24785	8	6	as	as	ADP
fbem-24785	8	7	of	of	ADP
fbem-24785	8	8	december	december	PROPN
fbem-24785	8	9	2020	2020	NUM
fbem-24785	8	10	,	,	PUNCT
fbem-24785	8	11	there	there	PRON
fbem-24785	8	12	were	be	VERB
fbem-24785	8	13	a	a	DET
fbem-24785	8	14	total	total	NOUN
fbem-24785	8	15	of	of	ADP
fbem-24785	8	16	27	27	NUM
fbem-24785	8	17	new	new	ADJ
fbem-24785	8	18	principal	principal	ADJ
fbem-24785	8	19	defaults	default	NOUN
fbem-24785	8	20	this	this	DET
fbem-24785	8	21	year	year	NOUN
fbem-24785	8	22	,	,	PUNCT
fbem-24785	8	23	and	and	CCONJ
fbem-24785	8	24	a	a	DET
fbem-24785	8	25	total	total	NOUN
fbem-24785	8	26	of	of	ADP
fbem-24785	8	27	164	164	NUM
fbem-24785	8	28	bonds	bond	NOUN
fbem-24785	8	29	were	be	AUX
fbem-24785	8	30	materially	materially	ADV
fbem-24785	8	31	defaulted	default	VERB
fbem-24785	8	32	.	.	PUNCT
fbem-24785	9	1	the	the	DET
fbem-24785	9	2	cumulative	cumulative	ADJ
fbem-24785	9	3	amount	amount	NOUN
fbem-24785	9	4	of	of	ADP
fbem-24785	9	5	bond	bond	NOUN
fbem-24785	9	6	defaults	default	NOUN
fbem-24785	9	7	exceeded	exceed	VERB
fbem-24785	9	8	160	160	NUM
fbem-24785	9	9	billion	billion	NUM
fbem-24785	9	10	yuan	yuan	NOUN
fbem-24785	9	11	.	.	PUNCT
fbem-24785	10	1	among	among	ADP
fbem-24785	10	2	them	they	PRON
fbem-24785	10	3	,	,	PUNCT
fbem-24785	10	4	the	the	DET
fbem-24785	10	5	default	default	NOUN
fbem-24785	10	6	balance	balance	NOUN
fbem-24785	10	7	of	of	ADP
fbem-24785	10	8	state	state	NOUN
fbem-24785	10	9	-	-	PUNCT
fbem-24785	10	10	owned	own	VERB
fbem-24785	10	11	enterprises	enterprise	NOUN
fbem-24785	10	12	increased	increase	VERB
fbem-24785	10	13	from	from	ADP
fbem-24785	10	14	12.93	12.93	NUM
fbem-24785	10	15	billion	billion	NUM
fbem-24785	10	16	in	in	ADP
fbem-24785	10	17	2019	2019	NUM
fbem-24785	10	18	to	to	ADP
fbem-24785	10	19	51.897	51.897	NUM
fbem-24785	10	20	billion	billion	NUM
fbem-24785	10	21	this	this	DET
fbem-24785	10	22	year	year	NOUN
fbem-24785	10	23	,	,	PUNCT
fbem-24785	10	24	an	an	DET
fbem-24785	10	25	increase	increase	NOUN
fbem-24785	10	26	of	of	ADP
fbem-24785	10	27	three	three	NUM
fbem-24785	10	28	times	time	NOUN
fbem-24785	10	29	.	.	PUNCT
fbem-24785	11	1	the	the	DET
fbem-24785	11	2	debt	debt	NOUN
fbem-24785	11	3	default	default	NOUN
fbem-24785	11	4	event	event	NOUN
fbem-24785	11	5	with	with	ADP
fbem-24785	11	6	a	a	DET
fbem-24785	11	7	large	large	ADJ
fbem-24785	11	8	amount	amount	NOUN
fbem-24785	11	9	of	of	ADP
fbem-24785	11	10	money	money	NOUN
fbem-24785	11	11	not	not	PART
fbem-24785	11	12	only	only	ADV
fbem-24785	11	13	aggravates	aggravate	VERB
fbem-24785	11	14	the	the	DET
fbem-24785	11	15	unease	unease	NOUN
fbem-24785	11	16	of	of	ADP
fbem-24785	11	17	creditors	creditor	NOUN
fbem-24785	11	18	,	,	PUNCT
fbem-24785	11	19	but	but	CCONJ
fbem-24785	11	20	also	also	ADV
fbem-24785	11	21	constantly	constantly	ADV
fbem-24785	11	22	causes	cause	VERB
fbem-24785	11	23	domestic	domestic	ADJ
fbem-24785	11	24	and	and	CCONJ
fbem-24785	11	25	foreign	foreign	ADJ
fbem-24785	11	26	scholars	scholar	NOUN
fbem-24785	11	27	to	to	PART
fbem-24785	11	28	discuss	discuss	VERB
fbem-24785	11	29	the	the	DET
fbem-24785	11	30	financial	financial	ADJ
fbem-24785	11	31	vulnerability	vulnerability	NOUN
fbem-24785	11	32	of	of	ADP
fbem-24785	11	33	enterprises	enterprise	NOUN
fbem-24785	11	34	under	under	ADP
fbem-24785	11	35	the	the	DET
fbem-24785	11	36	current	current	ADJ
fbem-24785	11	37	economic	economic	ADJ
fbem-24785	11	38	and	and	CCONJ
fbem-24785	11	39	social	social	ADJ
fbem-24785	11	40	high	high	ADJ
fbem-24785	11	41	leverage	leverage	NOUN
fbem-24785	11	42	in	in	ADP
fbem-24785	11	43	china	china	PROPN
fbem-24785	11	44	.	.	PUNCT
fbem-24785	12	1	for	for	ADP
fbem-24785	12	2	example	example	NOUN
fbem-24785	12	3	,	,	PUNCT
fbem-24785	12	4	wang	wang	PROPN
fbem-24785	12	5	guogang	guogang	PROPN
fbem-24785	12	6	(	(	PUNCT
fbem-24785	12	7	2017	2017	NUM
fbem-24785	12	8	)	)	PUNCT
fbem-24785	13	1	[	[	X
fbem-24785	13	2	1	1	X
fbem-24785	13	3	]	]	PUNCT
fbem-24785	13	4	believed	believe	VERB
fbem-24785	13	5	that	that	SCONJ
fbem-24785	13	6	through	through	ADP
fbem-24785	13	7	the	the	DET
fbem-24785	13	8	adjustment	adjustment	NOUN
fbem-24785	13	9	of	of	ADP
fbem-24785	13	10	debt	debt	NOUN
fbem-24785	13	11	structure	structure	NOUN
fbem-24785	13	12	,	,	PUNCT
fbem-24785	13	13	the	the	DET
fbem-24785	13	14	leverage	leverage	NOUN
fbem-24785	13	15	ratio	ratio	NOUN
fbem-24785	13	16	should	should	AUX
fbem-24785	13	17	be	be	AUX
fbem-24785	13	18	reduced	reduce	VERB
fbem-24785	13	19	to	to	ADP
fbem-24785	13	20	the	the	DET
fbem-24785	13	21	threshold	threshold	NOUN
fbem-24785	13	22	of	of	ADP
fbem-24785	13	23	effective	effective	ADJ
fbem-24785	13	24	risk	risk	NOUN
fbem-24785	13	25	prevention	prevention	NOUN
fbem-24785	13	26	,	,	PUNCT
fbem-24785	13	27	so	so	SCONJ
fbem-24785	13	28	as	as	SCONJ
fbem-24785	13	29	to	to	PART
fbem-24785	13	30	avoid	avoid	VERB
fbem-24785	13	31	the	the	DET
fbem-24785	13	32	concentration	concentration	NOUN
fbem-24785	13	33	of	of	ADP
fbem-24785	13	34	financial	financial	ADJ
fbem-24785	13	35	risks	risk	NOUN
fbem-24785	13	36	caused	cause	VERB
fbem-24785	13	37	by	by	ADP
fbem-24785	13	38	too	too	ADV
fbem-24785	13	39	high	high	ADJ
fbem-24785	13	40	leverage	leverage	NOUN
fbem-24785	13	41	ratio	ratio	NOUN
fbem-24785	13	42	.	.	PUNCT
fbem-24785	14	1	ma	ma	PROPN
fbem-24785	14	2	yongqiang	yongqiang	PROPN
fbem-24785	14	3	and	and	CCONJ
fbem-24785	14	4	zhang	zhang	PROPN
fbem-24785	14	5	zhiyuan	zhiyuan	PROPN
fbem-24785	14	6	(	(	PUNCT
fbem-24785	14	7	2021)[2	2021)[2	NUM
fbem-24785	14	8	]	]	PUNCT
fbem-24785	14	9	found	find	VERB
fbem-24785	14	10	that	that	SCONJ
fbem-24785	14	11	although	although	SCONJ
fbem-24785	14	12	deleveraging	deleveraging	NOUN
fbem-24785	14	13	has	have	AUX
fbem-24785	14	14	increased	increase	VERB
fbem-24785	14	15	the	the	DET
fbem-24785	14	16	level	level	NOUN
fbem-24785	14	17	of	of	ADP
fbem-24785	14	18	financial	financial	ADJ
fbem-24785	14	19	assets	asset	NOUN
fbem-24785	14	20	held	hold	VERB
fbem-24785	14	21	by	by	ADP
fbem-24785	14	22	real	real	ADJ
fbem-24785	14	23	enterprises	enterprise	NOUN
fbem-24785	14	24	,	,	PUNCT
fbem-24785	14	25	it	it	PRON
fbem-24785	14	26	has	have	AUX
fbem-24785	14	27	increased	increase	VERB
fbem-24785	14	28	the	the	DET
fbem-24785	14	29	possibility	possibility	NOUN
fbem-24785	14	30	of	of	ADP
fbem-24785	14	31	operating	operate	VERB
fbem-24785	14	32	risks	risk	NOUN
fbem-24785	14	33	.	.	PUNCT
fbem-24785	15	1	therefore	therefore	ADV
fbem-24785	15	2	,	,	PUNCT
fbem-24785	15	3	while	while	SCONJ
fbem-24785	15	4	promoting	promote	VERB
fbem-24785	15	5	deleveraging	deleveraging	NOUN
fbem-24785	15	6	,	,	PUNCT
fbem-24785	15	7	it	it	PRON
fbem-24785	15	8	is	be	AUX
fbem-24785	15	9	also	also	ADV
fbem-24785	15	10	necessary	necessary	ADJ
fbem-24785	15	11	to	to	PART
fbem-24785	15	12	monitor	monitor	VERB
fbem-24785	15	13	and	and	CCONJ
fbem-24785	15	14	prevent	prevent	VERB
fbem-24785	15	15	possible	possible	ADJ
fbem-24785	15	16	financialization	financialization	NOUN
fbem-24785	15	17	risks	risk	NOUN
fbem-24785	15	18	and	and	CCONJ
fbem-24785	15	19	inhibit	inhibit	VERB
fbem-24785	15	20	the	the	DET
fbem-24785	15	21	trend	trend	NOUN
fbem-24785	15	22	of	of	ADP
fbem-24785	15	23	real	real	ADJ
fbem-24785	15	24	enterprises	enterprise	NOUN
fbem-24785	15	25	from	from	ADP
fbem-24785	15	26	moving	move	VERB
fbem-24785	15	27	from	from	ADP
fbem-24785	15	28	real	real	ADV
fbem-24785	15	29	to	to	ADP
fbem-24785	15	30	virtual	virtual	ADJ
fbem-24785	15	31	.	.	PUNCT
fbem-24785	16	1	on	on	ADP
fbem-24785	16	2	the	the	DET
fbem-24785	16	3	one	one	NUM
fbem-24785	16	4	hand	hand	NOUN
fbem-24785	16	5	,	,	PUNCT
fbem-24785	16	6	the	the	DET
fbem-24785	16	7	financial	financial	ADJ
fbem-24785	16	8	vulnerability	vulnerability	NOUN
fbem-24785	16	9	of	of	ADP
fbem-24785	16	10	enterprises	enterprise	NOUN
fbem-24785	16	11	will	will	AUX
fbem-24785	16	12	lead	lead	VERB
fbem-24785	16	13	to	to	ADP
fbem-24785	16	14	an	an	DET
fbem-24785	16	15	increase	increase	NOUN
fbem-24785	16	16	in	in	ADP
fbem-24785	16	17	the	the	DET
fbem-24785	16	18	possibility	possibility	NOUN
fbem-24785	16	19	of	of	ADP
fbem-24785	16	20	financial	financial	ADJ
fbem-24785	16	21	distress	distress	NOUN
fbem-24785	16	22	of	of	ADP
fbem-24785	16	23	enterprises	enterprise	NOUN
fbem-24785	16	24	.	.	PUNCT
fbem-24785	17	1	on	on	ADP
fbem-24785	17	2	the	the	DET
fbem-24785	17	3	other	other	ADJ
fbem-24785	17	4	hand	hand	NOUN
fbem-24785	17	5	,	,	PUNCT
fbem-24785	17	6	due	due	ADP
fbem-24785	17	7	to	to	ADP
fbem-24785	17	8	the	the	DET
fbem-24785	17	9	uncertainty	uncertainty	NOUN
fbem-24785	17	10	of	of	ADP
fbem-24785	17	11	investors	investor	NOUN
fbem-24785	17	12	'	'	PART
fbem-24785	17	13	future	future	ADJ
fbem-24785	17	14	financial	financial	ADJ
fbem-24785	17	15	situation	situation	NOUN
fbem-24785	17	16	,	,	PUNCT
fbem-24785	17	17	and	and	CCONJ
fbem-24785	17	18	the	the	DET
fbem-24785	17	19	imperfect	imperfect	ADJ
fbem-24785	17	20	investor	investor	NOUN
fbem-24785	17	21	protection	protection	NOUN
fbem-24785	17	22	mechanism	mechanism	NOUN
fbem-24785	17	23	in	in	ADP
fbem-24785	17	24	china	china	PROPN
fbem-24785	17	25	,	,	PUNCT
fbem-24785	17	26	investors	investor	NOUN
fbem-24785	17	27	are	be	AUX
fbem-24785	17	28	in	in	ADP
fbem-24785	17	29	a	a	DET
fbem-24785	17	30	risk	risk	NOUN
fbem-24785	17	31	aversion	aversion	NOUN
fbem-24785	17	32	psychology	psychology	NOUN
fbem-24785	17	33	,	,	PUNCT
fbem-24785	17	34	which	which	PRON
fbem-24785	17	35	will	will	AUX
fbem-24785	17	36	correspondingly	correspondingly	ADV
fbem-24785	17	37	reduce	reduce	VERB
fbem-24785	17	38	investment	investment	NOUN
fbem-24785	17	39	in	in	ADP
fbem-24785	17	40	enterprises	enterprise	NOUN
fbem-24785	17	41	,	,	PUNCT
fbem-24785	17	42	aggravate	aggravate	VERB
fbem-24785	17	43	financing	financing	NOUN
fbem-24785	17	44	constraints	constraint	NOUN
fbem-24785	17	45	on	on	ADP
fbem-24785	17	46	enterprises	enterprise	NOUN
fbem-24785	17	47	(	(	PUNCT
fbem-24785	17	48	li	li	PROPN
fbem-24785	17	49	et	et	PROPN
fbem-24785	17	50	al	al	PROPN
fbem-24785	17	51	.	.	PROPN
fbem-24785	17	52	,	,	PUNCT
fbem-24785	17	53	2021	2021	NUM
fbem-24785	17	54	)	)	PUNCT
fbem-24785	18	1	[	[	X
fbem-24785	18	2	3	3	NUM
fbem-24785	18	3	]	]	PUNCT
fbem-24785	18	4	,	,	PUNCT
fbem-24785	18	5	and	and	CCONJ
fbem-24785	18	6	hinder	hinder	VERB
fbem-24785	18	7	the	the	DET
fbem-24785	18	8	sustainable	sustainable	ADJ
fbem-24785	18	9	operation	operation	NOUN
fbem-24785	18	10	of	of	ADP
fbem-24785	18	11	enterprises	enterprise	NOUN
fbem-24785	18	12	.	.	PUNCT
fbem-24785	19	1	therefore	therefore	ADV
fbem-24785	19	2	,	,	PUNCT
fbem-24785	19	3	financial	financial	ADJ
fbem-24785	19	4	vulnerability	vulnerability	NOUN
fbem-24785	19	5	is	be	AUX
fbem-24785	19	6	a	a	DET
fbem-24785	19	7	problem	problem	NOUN
fbem-24785	19	8	that	that	SCONJ
fbem-24785	19	9	enterprises	enterprise	NOUN
fbem-24785	19	10	can	can	AUX
fbem-24785	19	11	not	not	PART
fbem-24785	19	12	ignore	ignore	VERB
fbem-24785	19	13	.	.	PUNCT
fbem-24785	20	1	the	the	DET
fbem-24785	20	2	operation	operation	NOUN
fbem-24785	20	3	and	and	CCONJ
fbem-24785	20	4	development	development	NOUN
fbem-24785	20	5	of	of	ADP
fbem-24785	20	6	enterprises	enterprise	NOUN
fbem-24785	20	7	is	be	AUX
fbem-24785	20	8	based	base	VERB
fbem-24785	20	9	on	on	ADP
fbem-24785	20	10	the	the	DET
fbem-24785	20	11	economic	economic	ADJ
fbem-24785	20	12	society	society	NOUN
fbem-24785	20	13	,	,	PUNCT
fbem-24785	20	14	which	which	PRON
fbem-24785	20	15	is	be	AUX
fbem-24785	20	16	bound	bind	VERB
fbem-24785	20	17	to	to	PART
fbem-24785	20	18	be	be	AUX
fbem-24785	20	19	affected	affect	VERB
fbem-24785	20	20	and	and	CCONJ
fbem-24785	20	21	constrained	constrain	VERB
fbem-24785	20	22	by	by	ADP
fbem-24785	20	23	the	the	DET
fbem-24785	20	24	macroeconomic	macroeconomic	ADJ
fbem-24785	20	25	environment	environment	NOUN
fbem-24785	20	26	.	.	PUNCT
fbem-24785	21	1	during	during	ADP
fbem-24785	21	2	the	the	DET
fbem-24785	21	3	same	same	ADJ
fbem-24785	21	4	period	period	NOUN
fbem-24785	21	5	,	,	PUNCT
fbem-24785	21	6	the	the	DET
fbem-24785	21	7	economic	economic	ADJ
fbem-24785	21	8	policy	policy	NOUN
fbem-24785	21	9	uncertainty	uncertainty	NOUN
fbem-24785	21	10	index	index	NOUN
fbem-24785	21	11	rose	rise	VERB
fbem-24785	21	12	rapidly	rapidly	ADV
fbem-24785	21	13	,	,	PUNCT
fbem-24785	21	14	reaching	reach	VERB
fbem-24785	21	15	970.83	970.83	NUM
fbem-24785	21	16	in	in	ADP
fbem-24785	21	17	october	october	PROPN
fbem-24785	21	18	2019	2019	NUM
fbem-24785	21	19	,	,	PUNCT
fbem-24785	21	20	a	a	DET
fbem-24785	21	21	record	record	NOUN
fbem-24785	21	22	high	high	NOUN
fbem-24785	21	23	.	.	PUNCT
fbem-24785	22	1	in	in	ADP
fbem-24785	22	2	this	this	DET
fbem-24785	22	3	context	context	NOUN
fbem-24785	22	4	,	,	PUNCT
fbem-24785	22	5	it	it	PRON
fbem-24785	22	6	is	be	AUX
fbem-24785	22	7	of	of	ADP
fbem-24785	22	8	great	great	ADJ
fbem-24785	22	9	theoretical	theoretical	ADJ
fbem-24785	22	10	and	and	CCONJ
fbem-24785	22	11	practical	practical	ADJ
fbem-24785	22	12	significance	significance	NOUN
fbem-24785	22	13	to	to	PART
fbem-24785	22	14	deeply	deeply	ADV
fbem-24785	22	15	analyze	analyze	VERB
fbem-24785	22	16	the	the	DET
fbem-24785	22	17	relationship	relationship	NOUN
fbem-24785	22	18	between	between	ADP
fbem-24785	22	19	economic	economic	ADJ
fbem-24785	22	20	policy	policy	NOUN
fbem-24785	22	21	uncertainty	uncertainty	NOUN
fbem-24785	22	22	and	and	CCONJ
fbem-24785	22	23	corporate	corporate	ADJ
fbem-24785	22	24	financial	financial	ADJ
fbem-24785	22	25	vulnerability	vulnerability	NOUN
fbem-24785	22	26	.	.	PUNCT
fbem-24785	23	1	as	as	ADP
fbem-24785	23	2	one	one	NUM
fbem-24785	23	3	of	of	ADP
fbem-24785	23	4	the	the	DET
fbem-24785	23	5	important	important	ADJ
fbem-24785	23	6	ways	way	NOUN
fbem-24785	23	7	of	of	ADP
fbem-24785	23	8	enterprise	enterprise	NOUN
fbem-24785	23	9	financing	financing	NOUN
fbem-24785	23	10	,	,	PUNCT
fbem-24785	23	11	debt	debt	NOUN
fbem-24785	23	12	financing	financing	NOUN
fbem-24785	23	13	is	be	AUX
fbem-24785	23	14	the	the	DET
fbem-24785	23	15	core	core	ADJ
fbem-24785	23	16	variable	variable	NOUN
fbem-24785	23	17	that	that	PRON
fbem-24785	23	18	affects	affect	VERB
fbem-24785	23	19	the	the	DET
fbem-24785	23	20	financial	financial	ADJ
fbem-24785	23	21	risk	risk	NOUN
fbem-24785	23	22	and	and	CCONJ
fbem-24785	23	23	liquidity	liquidity	NOUN
fbem-24785	23	24	risk	risk	NOUN
fbem-24785	23	25	of	of	ADP
fbem-24785	23	26	enterprises	enterprise	NOUN
fbem-24785	23	27	,	,	PUNCT
fbem-24785	23	28	which	which	PRON
fbem-24785	23	29	has	have	VERB
fbem-24785	23	30	a	a	DET
fbem-24785	23	31	direct	direct	ADJ
fbem-24785	23	32	impact	impact	NOUN
fbem-24785	23	33	on	on	ADP
fbem-24785	23	34	the	the	DET
fbem-24785	23	35	profitability	profitability	NOUN
fbem-24785	23	36	and	and	CCONJ
fbem-24785	23	37	value	value	NOUN
fbem-24785	23	38	of	of	ADP
fbem-24785	23	39	enterprises	enterprise	NOUN
fbem-24785	23	40	(	(	PUNCT
fbem-24785	23	41	jiang	jiang	PROPN
fbem-24785	23	42	teng	teng	PROPN
fbem-24785	23	43	et	et	PROPN
fbem-24785	23	44	al	al	PROPN
fbem-24785	23	45	.	.	PROPN
fbem-24785	23	46	,	,	PUNCT
fbem-24785	23	47	2018	2018	NUM
fbem-24785	23	48	)	)	PUNCT
fbem-24785	24	1	[	[	X
fbem-24785	24	2	4	4	NUM
fbem-24785	24	3	]	]	PUNCT
fbem-24785	24	4	.	.	PUNCT
fbem-24785	25	1	the	the	DET
fbem-24785	25	2	sources	source	NOUN
fbem-24785	25	3	of	of	ADP
fbem-24785	25	4	debt	debt	NOUN
fbem-24785	25	5	of	of	ADP
fbem-24785	25	6	enterprises	enterprise	NOUN
fbem-24785	25	7	are	be	AUX
fbem-24785	25	8	mainly	mainly	ADV
fbem-24785	25	9	divided	divide	VERB
fbem-24785	25	10	into	into	ADP
fbem-24785	25	11	bank	bank	NOUN
fbem-24785	25	12	loans	loan	NOUN
fbem-24785	25	13	,	,	PUNCT
fbem-24785	25	14	commercial	commercial	ADJ
fbem-24785	25	15	credit	credit	NOUN
fbem-24785	25	16	and	and	CCONJ
fbem-24785	25	17	corporate	corporate	ADJ
fbem-24785	25	18	bonds	bond	NOUN
fbem-24785	25	19	.	.	PUNCT
fbem-24785	26	1	different	different	ADJ
fbem-24785	26	2	financing	financing	NOUN
fbem-24785	26	3	modes	mode	NOUN
fbem-24785	26	4	will	will	AUX
fbem-24785	26	5	lead	lead	VERB
fbem-24785	26	6	to	to	ADP
fbem-24785	26	7	different	different	ADJ
fbem-24785	26	8	effects	effect	NOUN
fbem-24785	26	9	:	:	PUNCT
fbem-24785	26	10	on	on	ADP
fbem-24785	26	11	the	the	DET
fbem-24785	26	12	one	one	NUM
fbem-24785	26	13	hand	hand	NOUN
fbem-24785	26	14	,	,	PUNCT
fbem-24785	26	15	different	different	ADJ
fbem-24785	26	16	financing	financing	NOUN
fbem-24785	26	17	modes	mode	NOUN
fbem-24785	26	18	make	make	VERB
fbem-24785	26	19	the	the	DET
fbem-24785	26	20	channels	channel	NOUN
fbem-24785	26	21	of	of	ADP
fbem-24785	26	22	obtaining	obtain	VERB
fbem-24785	26	23	funds	fund	NOUN
fbem-24785	26	24	diverse	diverse	ADJ
fbem-24785	26	25	,	,	PUNCT
fbem-24785	26	26	reduce	reduce	VERB
fbem-24785	26	27	the	the	DET
fbem-24785	26	28	information	information	NOUN
fbem-24785	26	29	asymmetry	asymmetry	NOUN
fbem-24785	26	30	between	between	ADP
fbem-24785	26	31	enterprises	enterprise	NOUN
fbem-24785	26	32	and	and	CCONJ
fbem-24785	26	33	capital	capital	NOUN
fbem-24785	26	34	suppliers	supplier	NOUN
fbem-24785	26	35	,	,	PUNCT
fbem-24785	26	36	and	and	CCONJ
fbem-24785	26	37	enterprises	enterprise	NOUN
fbem-24785	26	38	can	can	AUX
fbem-24785	26	39	get	get	VERB
fbem-24785	26	40	better	well	ADJ
fbem-24785	26	41	financial	financial	ADJ
fbem-24785	26	42	support	support	NOUN
fbem-24785	26	43	;	;	PUNCT
fbem-24785	26	44	on	on	ADP
fbem-24785	26	45	the	the	DET
fbem-24785	26	46	other	other	ADJ
fbem-24785	26	47	hand	hand	NOUN
fbem-24785	26	48	,	,	PUNCT
fbem-24785	26	49	in	in	ADP
fbem-24785	26	50	the	the	DET
fbem-24785	26	51	process	process	NOUN
fbem-24785	26	52	of	of	ADP
fbem-24785	26	53	obtaining	obtain	VERB
fbem-24785	26	54	financial	financial	ADJ
fbem-24785	26	55	support	support	NOUN
fbem-24785	26	56	,	,	PUNCT
fbem-24785	26	57	enterprises	enterprise	NOUN
fbem-24785	26	58	encourage	encourage	VERB
fbem-24785	26	59	capital	capital	NOUN
fbem-24785	26	60	suppliers	supplier	NOUN
fbem-24785	26	61	to	to	PART
fbem-24785	26	62	strengthen	strengthen	VERB
fbem-24785	26	63	their	their	PRON
fbem-24785	26	64	participation	participation	NOUN
fbem-24785	26	65	and	and	CCONJ
fbem-24785	26	66	supervision	supervision	NOUN
fbem-24785	26	67	in	in	ADP
fbem-24785	26	68	the	the	DET
fbem-24785	26	69	operation	operation	NOUN
fbem-24785	26	70	of	of	ADP
fbem-24785	26	71	enterprises	enterprise	NOUN
fbem-24785	26	72	,	,	PUNCT
fbem-24785	26	73	effectively	effectively	ADV
fbem-24785	26	74	improve	improve	VERB
fbem-24785	26	75	the	the	DET
fbem-24785	26	76	investment	investment	NOUN
fbem-24785	26	77	and	and	CCONJ
fbem-24785	26	78	financing	financing	NOUN
fbem-24785	26	79	decisions	decision	NOUN
fbem-24785	26	80	of	of	ADP
fbem-24785	26	81	enterprises	enterprise	NOUN
fbem-24785	26	82	,	,	PUNCT
fbem-24785	26	83	improve	improve	VERB
fbem-24785	26	84	the	the	DET
fbem-24785	26	85	efficiency	efficiency	NOUN
fbem-24785	26	86	of	of	ADP
fbem-24785	26	87	enterprise	enterprise	NOUN
fbem-24785	26	88	decision	decision	NOUN
fbem-24785	26	89	-	-	PUNCT
fbem-24785	26	90	making	making	NOUN
fbem-24785	26	91	,	,	PUNCT
fbem-24785	26	92	and	and	CCONJ
fbem-24785	26	93	alleviate	alleviate	VERB
fbem-24785	26	94	the	the	DET
fbem-24785	26	95	financing	financing	NOUN
fbem-24785	26	96	difficulties	difficulty	NOUN
fbem-24785	26	97	of	of	ADP
fbem-24785	26	98	enterprises	enterprise	NOUN
fbem-24785	26	99	.	.	PUNCT
fbem-24785	27	1	under	under	ADP
fbem-24785	27	2	the	the	DET
fbem-24785	27	3	influence	influence	NOUN
fbem-24785	27	4	of	of	ADP
fbem-24785	27	5	different	different	ADJ
fbem-24785	27	6	financing	financing	NOUN
fbem-24785	27	7	modes	mode	NOUN
fbem-24785	27	8	,	,	PUNCT
fbem-24785	27	9	how	how	SCONJ
fbem-24785	27	10	will	will	AUX
fbem-24785	27	11	the	the	DET
fbem-24785	27	12	change	change	NOUN
fbem-24785	27	13	of	of	ADP
fbem-24785	27	14	financing	financing	NOUN
fbem-24785	27	15	mode	mode	NOUN
fbem-24785	27	16	affect	affect	VERB
fbem-24785	27	17	the	the	DET
fbem-24785	27	18	relationship	relationship	NOUN
fbem-24785	27	19	between	between	ADP
fbem-24785	27	20	economic	economic	ADJ
fbem-24785	27	21	policy	policy	NOUN
fbem-24785	27	22	uncertainty	uncertainty	NOUN
fbem-24785	27	23	and	and	CCONJ
fbem-24785	27	24	corporate	corporate	ADJ
fbem-24785	27	25	financial	financial	ADJ
fbem-24785	27	26	vulnerability	vulnerability	NOUN
fbem-24785	27	27	?	?	PUNCT
fbem-24785	28	1	further	far	ADV
fbem-24785	28	2	,	,	PUNCT
fbem-24785	28	3	what	what	PRON
fbem-24785	28	4	are	be	AUX
fbem-24785	28	5	the	the	DET
fbem-24785	28	6	differences	difference	NOUN
fbem-24785	28	7	in	in	ADP
fbem-24785	28	8	this	this	DET
fbem-24785	28	9	impact	impact	NOUN
fbem-24785	28	10	in	in	ADP
fbem-24785	28	11	terms	term	NOUN
fbem-24785	28	12	of	of	ADP
fbem-24785	28	13	industry	industry	NOUN
fbem-24785	28	14	and	and	CCONJ
fbem-24785	28	15	financing	financing	NOUN
fbem-24785	28	16	constraints	constraint	NOUN
fbem-24785	28	17	?	?	PUNCT
fbem-24785	29	1	the	the	DET
fbem-24785	29	2	discussion	discussion	NOUN
fbem-24785	29	3	of	of	ADP
fbem-24785	29	4	these	these	DET
fbem-24785	29	5	issues	issue	NOUN
fbem-24785	29	6	is	be	AUX
fbem-24785	29	7	conducive	conducive	ADJ
fbem-24785	29	8	to	to	ADP
fbem-24785	29	9	understanding	understand	VERB
fbem-24785	29	10	the	the	DET
fbem-24785	29	11	relationship	relationship	NOUN
fbem-24785	29	12	between	between	ADP
fbem-24785	29	13	the	the	DET
fbem-24785	29	14	financing	financing	NOUN
fbem-24785	29	15	model	model	NOUN
fbem-24785	29	16	and	and	CCONJ
fbem-24785	29	17	economic	economic	ADJ
fbem-24785	29	18	policy	policy	NOUN
fbem-24785	29	19	uncertainty	uncertainty	NOUN
fbem-24785	29	20	in	in	ADP
fbem-24785	29	21	china	china	PROPN
fbem-24785	29	22	's	's	PART
fbem-24785	29	23	capital	capital	NOUN
fbem-24785	29	24	market	market	NOUN
fbem-24785	29	25	and	and	CCONJ
fbem-24785	29	26	the	the	DET
fbem-24785	29	27	financial	financial	ADJ
fbem-24785	29	28	vulnerability	vulnerability	NOUN
fbem-24785	29	29	of	of	ADP
fbem-24785	29	30	enterprises	enterprise	NOUN
fbem-24785	29	31	,	,	PUNCT
fbem-24785	29	32	and	and	CCONJ
fbem-24785	29	33	providing	provide	VERB
fbem-24785	29	34	policy	policy	NOUN
fbem-24785	29	35	recommendations	recommendation	NOUN
fbem-24785	29	36	for	for	ADP
fbem-24785	29	37	enterprises	enterprise	NOUN
fbem-24785	29	38	'	'	PART
fbem-24785	29	39	financing	financing	NOUN
fbem-24785	29	40	decisions	decision	NOUN
fbem-24785	29	41	.	.	PUNCT
fbem-24785	30	1	under	under	ADP
fbem-24785	30	2	the	the	DET
fbem-24785	30	3	above	above	ADJ
fbem-24785	30	4	theoretical	theoretical	ADJ
fbem-24785	30	5	and	and	CCONJ
fbem-24785	30	6	research	research	NOUN
fbem-24785	30	7	background	background	NOUN
fbem-24785	30	8	,	,	PUNCT
fbem-24785	30	9	this	this	DET
fbem-24785	30	10	paper	paper	NOUN
fbem-24785	30	11	attempts	attempt	VERB
fbem-24785	30	12	to	to	PART
fbem-24785	30	13	study	study	VERB
fbem-24785	30	14	the	the	DET
fbem-24785	30	15	impact	impact	NOUN
fbem-24785	30	16	of	of	ADP
fbem-24785	30	17	financing	finance	VERB
fbem-24785	30	18	mode	mode	NOUN
fbem-24785	30	19	on	on	ADP
fbem-24785	30	20	economic	economic	ADJ
fbem-24785	30	21	policy	policy	NOUN
fbem-24785	30	22	uncertainty	uncertainty	NOUN
fbem-24785	30	23	and	and	CCONJ
fbem-24785	30	24	corporate	corporate	ADJ
fbem-24785	30	25	financial	financial	ADJ
fbem-24785	30	26	vulnerability	vulnerability	NOUN
fbem-24785	30	27	.	.	PUNCT
fbem-24785	31	1	this	this	DET
fbem-24785	31	2	paper	paper	NOUN
fbem-24785	31	3	mainly	mainly	ADV
fbem-24785	31	4	divides	divide	VERB
fbem-24785	31	5	the	the	DET
fbem-24785	31	6	financing	financing	NOUN
fbem-24785	31	7	modes	mode	NOUN
fbem-24785	31	8	into	into	ADP
fbem-24785	31	9	three	three	NUM
fbem-24785	31	10	categories	category	NOUN
fbem-24785	31	11	:	:	PUNCT
fbem-24785	31	12	bank	bank	NOUN
fbem-24785	31	13	loans	loan	NOUN
fbem-24785	31	14	,	,	PUNCT
fbem-24785	31	15	credit	credit	NOUN
fbem-24785	31	16	financing	financing	NOUN
fbem-24785	31	17	and	and	CCONJ
fbem-24785	31	18	bond	bond	NOUN
fbem-24785	31	19	financing	financing	NOUN
fbem-24785	31	20	,	,	PUNCT
fbem-24785	31	21	and	and	CCONJ
fbem-24785	31	22	makes	make	VERB
fbem-24785	31	23	an	an	DET
fbem-24785	31	24	empirical	empirical	ADJ
fbem-24785	31	25	analysis	analysis	NOUN
fbem-24785	31	26	based	base	VERB
fbem-24785	31	27	on	on	ADP
fbem-24785	31	28	the	the	DET
fbem-24785	31	29	sample	sample	NOUN
fbem-24785	31	30	of	of	ADP
fbem-24785	31	31	china	china	PROPN
fbem-24785	31	32	's	's	PART
fbem-24785	31	33	shanghai	shanghai	PROPN
fbem-24785	31	34	and	and	CCONJ
fbem-24785	31	35	shenzhen	shenzhen	PROPN
fbem-24785	31	36	a	a	PROPN
fbem-24785	31	37	-	-	PUNCT
fbem-24785	31	38	share	share	NOUN
fbem-24785	31	39	listed	list	VERB
fbem-24785	31	40	companies	company	NOUN
fbem-24785	31	41	from	from	ADP
fbem-24785	31	42	2010	2010	NUM
fbem-24785	31	43	to	to	ADP
fbem-24785	31	44	2021	2021	NUM
fbem-24785	31	45	.	.	PUNCT
fbem-24785	32	1	the	the	DET
fbem-24785	32	2	possible	possible	ADJ
fbem-24785	32	3	research	research	NOUN
fbem-24785	32	4	407	407	NUM
fbem-24785	32	5	contributions	contribution	NOUN
fbem-24785	32	6	of	of	ADP
fbem-24785	32	7	this	this	DET
fbem-24785	32	8	paper	paper	NOUN
fbem-24785	32	9	are	be	AUX
fbem-24785	32	10	as	as	SCONJ
fbem-24785	32	11	follows	follow	VERB
fbem-24785	32	12	:	:	PUNCT
fbem-24785	32	13	first	first	ADV
fbem-24785	32	14	,	,	PUNCT
fbem-24785	32	15	there	there	PRON
fbem-24785	32	16	is	be	VERB
fbem-24785	32	17	little	little	ADJ
fbem-24785	32	18	literature	literature	NOUN
fbem-24785	32	19	on	on	ADP
fbem-24785	32	20	the	the	DET
fbem-24785	32	21	relationship	relationship	NOUN
fbem-24785	32	22	between	between	ADP
fbem-24785	32	23	economic	economic	ADJ
fbem-24785	32	24	policy	policy	NOUN
fbem-24785	32	25	uncertainty	uncertainty	NOUN
fbem-24785	32	26	and	and	CCONJ
fbem-24785	32	27	corporate	corporate	ADJ
fbem-24785	32	28	financial	financial	ADJ
fbem-24785	32	29	vulnerability	vulnerability	NOUN
fbem-24785	32	30	.	.	PUNCT
fbem-24785	33	1	this	this	DET
fbem-24785	33	2	paper	paper	NOUN
fbem-24785	33	3	studies	study	VERB
fbem-24785	33	4	the	the	DET
fbem-24785	33	5	relationship	relationship	NOUN
fbem-24785	33	6	between	between	ADP
fbem-24785	33	7	the	the	DET
fbem-24785	33	8	two	two	NUM
fbem-24785	33	9	and	and	CCONJ
fbem-24785	33	10	enriches	enrich	VERB
fbem-24785	33	11	the	the	DET
fbem-24785	33	12	existing	exist	VERB
fbem-24785	33	13	research	research	NOUN
fbem-24785	33	14	literature	literature	NOUN
fbem-24785	33	15	.	.	PUNCT
fbem-24785	34	1	secondly	secondly	ADV
fbem-24785	34	2	,	,	PUNCT
fbem-24785	34	3	the	the	DET
fbem-24785	34	4	economic	economic	ADJ
fbem-24785	34	5	policy	policy	NOUN
fbem-24785	34	6	uncertainty	uncertainty	NOUN
fbem-24785	34	7	,	,	PUNCT
fbem-24785	34	8	financing	financing	NOUN
fbem-24785	34	9	mode	mode	NOUN
fbem-24785	34	10	and	and	CCONJ
fbem-24785	34	11	corporate	corporate	ADJ
fbem-24785	34	12	financial	financial	ADJ
fbem-24785	34	13	vulnerability	vulnerability	NOUN
fbem-24785	34	14	are	be	AUX
fbem-24785	34	15	included	include	VERB
fbem-24785	34	16	in	in	ADP
fbem-24785	34	17	the	the	DET
fbem-24785	34	18	same	same	ADJ
fbem-24785	34	19	framework	framework	NOUN
fbem-24785	34	20	for	for	ADP
fbem-24785	34	21	systematic	systematic	ADJ
fbem-24785	34	22	analysis	analysis	NOUN
fbem-24785	34	23	,	,	PUNCT
fbem-24785	34	24	which	which	PRON
fbem-24785	34	25	is	be	AUX
fbem-24785	34	26	different	different	ADJ
fbem-24785	34	27	from	from	ADP
fbem-24785	34	28	the	the	DET
fbem-24785	34	29	separate	separate	ADJ
fbem-24785	34	30	analysis	analysis	NOUN
fbem-24785	34	31	of	of	ADP
fbem-24785	34	32	the	the	DET
fbem-24785	34	33	relationship	relationship	NOUN
fbem-24785	34	34	between	between	ADP
fbem-24785	34	35	the	the	DET
fbem-24785	34	36	two	two	NUM
fbem-24785	34	37	and	and	CCONJ
fbem-24785	34	38	supplements	supplement	NOUN
fbem-24785	34	39	the	the	DET
fbem-24785	34	40	relevant	relevant	ADJ
fbem-24785	34	41	theoretical	theoretical	ADJ
fbem-24785	34	42	analysis	analysis	NOUN
fbem-24785	34	43	.	.	PUNCT
fbem-24785	35	1	third	third	ADJ
fbem-24785	35	2	,	,	PUNCT
fbem-24785	35	3	it	it	PRON
fbem-24785	35	4	highlights	highlight	VERB
fbem-24785	35	5	the	the	DET
fbem-24785	35	6	importance	importance	NOUN
fbem-24785	35	7	of	of	ADP
fbem-24785	35	8	debt	debt	NOUN
fbem-24785	35	9	financing	financing	NOUN
fbem-24785	35	10	and	and	CCONJ
fbem-24785	35	11	provides	provide	VERB
fbem-24785	35	12	decision	decision	NOUN
fbem-24785	35	13	-	-	PUNCT
fbem-24785	35	14	making	make	VERB
fbem-24785	35	15	reference	reference	NOUN
fbem-24785	35	16	for	for	ADP
fbem-24785	35	17	optimizing	optimize	VERB
fbem-24785	35	18	resource	resource	NOUN
fbem-24785	35	19	allocation	allocation	NOUN
fbem-24785	35	20	,	,	PUNCT
fbem-24785	35	21	deepening	deepen	VERB
fbem-24785	35	22	financial	financial	ADJ
fbem-24785	35	23	system	system	NOUN
fbem-24785	35	24	reform	reform	NOUN
fbem-24785	35	25	and	and	CCONJ
fbem-24785	35	26	enhancing	enhance	VERB
fbem-24785	35	27	enterprise	enterprise	NOUN
fbem-24785	35	28	competitiveness	competitiveness	NOUN
fbem-24785	35	29	.	.	PUNCT
fbem-24785	36	1	2	2	X
fbem-24785	36	2	.	.	X
fbem-24785	36	3	literature	literature	NOUN
fbem-24785	36	4	review	review	PROPN
fbem-24785	36	5	and	and	CCONJ
fbem-24785	36	6	research	research	NOUN
fbem-24785	36	7	hypothesis	hypothesis	NOUN
fbem-24785	36	8	2.1	2.1	NUM
fbem-24785	36	9	.	.	PUNCT
fbem-24785	37	1	economic	economic	ADJ
fbem-24785	37	2	policy	policy	NOUN
fbem-24785	37	3	uncertainty	uncertainty	NOUN
fbem-24785	37	4	and	and	CCONJ
fbem-24785	37	5	corporate	corporate	ADJ
fbem-24785	37	6	financial	financial	ADJ
fbem-24785	37	7	vulnerability	vulnerability	NOUN
fbem-24785	37	8	since	since	SCONJ
fbem-24785	37	9	the	the	DET
fbem-24785	37	10	financial	financial	ADJ
fbem-24785	37	11	crisis	crisis	NOUN
fbem-24785	37	12	,	,	PUNCT
fbem-24785	37	13	governments	government	NOUN
fbem-24785	37	14	have	have	AUX
fbem-24785	37	15	introduced	introduce	VERB
fbem-24785	37	16	a	a	DET
fbem-24785	37	17	series	series	NOUN
fbem-24785	37	18	of	of	ADP
fbem-24785	37	19	economic	economic	ADJ
fbem-24785	37	20	policies	policy	NOUN
fbem-24785	37	21	in	in	ADP
fbem-24785	37	22	order	order	NOUN
fbem-24785	37	23	to	to	PART
fbem-24785	37	24	stabilize	stabilize	VERB
fbem-24785	37	25	economic	economic	ADJ
fbem-24785	37	26	growth	growth	NOUN
fbem-24785	37	27	,	,	PUNCT
fbem-24785	37	28	which	which	PRON
fbem-24785	37	29	has	have	AUX
fbem-24785	37	30	correspondingly	correspondingly	ADV
fbem-24785	37	31	increased	increase	VERB
fbem-24785	37	32	the	the	DET
fbem-24785	37	33	uncertainty	uncertainty	NOUN
fbem-24785	37	34	of	of	ADP
fbem-24785	37	35	economic	economic	ADJ
fbem-24785	37	36	policies	policy	NOUN
fbem-24785	37	37	.	.	PUNCT
fbem-24785	38	1	economic	economic	ADJ
fbem-24785	38	2	policy	policy	NOUN
fbem-24785	38	3	uncertainty	uncertainty	NOUN
fbem-24785	38	4	is	be	AUX
fbem-24785	38	5	an	an	DET
fbem-24785	38	6	important	important	ADJ
fbem-24785	38	7	external	external	ADJ
fbem-24785	38	8	factor	factor	NOUN
fbem-24785	38	9	affecting	affect	VERB
fbem-24785	38	10	corporate	corporate	ADJ
fbem-24785	38	11	financial	financial	ADJ
fbem-24785	38	12	policies	policy	NOUN
fbem-24785	38	13	(	(	PUNCT
fbem-24785	38	14	gulen	gulen	VERB
fbem-24785	38	15	h	h	NOUN
fbem-24785	38	16	et	et	PROPN
fbem-24785	38	17	al	al	PROPN
fbem-24785	38	18	.	.	PROPN
fbem-24785	38	19	,	,	PUNCT
fbem-24785	38	20	2016	2016	NUM
fbem-24785	38	21	)	)	PUNCT
fbem-24785	39	1	[	[	X
fbem-24785	39	2	5	5	NUM
fbem-24785	39	3	]	]	PUNCT
fbem-24785	39	4	.	.	PUNCT
fbem-24785	40	1	fluctuations	fluctuation	NOUN
fbem-24785	40	2	in	in	ADP
fbem-24785	40	3	economic	economic	ADJ
fbem-24785	40	4	policies	policy	NOUN
fbem-24785	40	5	are	be	AUX
fbem-24785	40	6	bound	bind	VERB
fbem-24785	40	7	to	to	PART
fbem-24785	40	8	increase	increase	VERB
fbem-24785	40	9	the	the	DET
fbem-24785	40	10	uncertainty	uncertainty	NOUN
fbem-24785	40	11	of	of	ADP
fbem-24785	40	12	financial	financial	ADJ
fbem-24785	40	13	policies	policy	NOUN
fbem-24785	40	14	,	,	PUNCT
fbem-24785	40	15	and	and	CCONJ
fbem-24785	40	16	due	due	ADP
fbem-24785	40	17	to	to	ADP
fbem-24785	40	18	china	china	PROPN
fbem-24785	40	19	's	's	PART
fbem-24785	40	20	imperfect	imperfect	ADJ
fbem-24785	40	21	investor	investor	NOUN
fbem-24785	40	22	protection	protection	NOUN
fbem-24785	40	23	system	system	NOUN
fbem-24785	40	24	and	and	CCONJ
fbem-24785	40	25	other	other	ADJ
fbem-24785	40	26	reasons	reason	NOUN
fbem-24785	40	27	,	,	PUNCT
fbem-24785	40	28	the	the	DET
fbem-24785	40	29	actual	actual	ADJ
fbem-24785	40	30	impact	impact	NOUN
fbem-24785	40	31	of	of	ADP
fbem-24785	40	32	economic	economic	ADJ
fbem-24785	40	33	policy	policy	NOUN
fbem-24785	40	34	uncertainty	uncertainty	NOUN
fbem-24785	40	35	on	on	ADP
fbem-24785	40	36	micro	micro	NOUN
fbem-24785	40	37	-	-	NOUN
fbem-24785	40	38	enterprises	enterprise	NOUN
fbem-24785	40	39	will	will	AUX
fbem-24785	40	40	be	be	AUX
fbem-24785	40	41	further	far	ADV
fbem-24785	40	42	amplified	amplify	VERB
fbem-24785	40	43	(	(	PUNCT
fbem-24785	40	44	jiang	jiang	PROPN
fbem-24785	40	45	teng	teng	PROPN
fbem-24785	40	46	et	et	PROPN
fbem-24785	40	47	al	al	PROPN
fbem-24785	40	48	.	.	PROPN
fbem-24785	40	49	,	,	PUNCT
fbem-24785	40	50	2018	2018	NUM
fbem-24785	40	51	)	)	PUNCT
fbem-24785	41	1	[	[	X
fbem-24785	41	2	4	4	NUM
fbem-24785	41	3	]	]	PUNCT
fbem-24785	41	4	.	.	PUNCT
fbem-24785	42	1	for	for	ADP
fbem-24785	42	2	enterprises	enterprise	NOUN
fbem-24785	42	3	,	,	PUNCT
fbem-24785	42	4	economic	economic	ADJ
fbem-24785	42	5	policy	policy	NOUN
fbem-24785	42	6	uncertainty	uncertainty	NOUN
fbem-24785	42	7	is	be	AUX
fbem-24785	42	8	both	both	CCONJ
fbem-24785	42	9	a	a	DET
fbem-24785	42	10	risk	risk	NOUN
fbem-24785	42	11	and	and	CCONJ
fbem-24785	42	12	an	an	DET
fbem-24785	42	13	opportunity	opportunity	NOUN
fbem-24785	42	14	.	.	PUNCT
fbem-24785	43	1	when	when	SCONJ
fbem-24785	43	2	enterprises	enterprise	NOUN
fbem-24785	43	3	make	make	VERB
fbem-24785	43	4	decisions	decision	NOUN
fbem-24785	43	5	to	to	PART
fbem-24785	43	6	avoid	avoid	VERB
fbem-24785	43	7	risks	risk	NOUN
fbem-24785	43	8	or	or	CCONJ
fbem-24785	43	9	seize	seize	VERB
fbem-24785	43	10	opportunities	opportunity	NOUN
fbem-24785	43	11	,	,	PUNCT
fbem-24785	43	12	they	they	PRON
fbem-24785	43	13	must	must	AUX
fbem-24785	43	14	comprehensively	comprehensively	ADV
fbem-24785	43	15	weigh	weigh	VERB
fbem-24785	43	16	the	the	DET
fbem-24785	43	17	capital	capital	NOUN
fbem-24785	43	18	investment	investment	NOUN
fbem-24785	43	19	and	and	CCONJ
fbem-24785	43	20	output	output	NOUN
fbem-24785	43	21	benefits	benefit	NOUN
fbem-24785	43	22	of	of	ADP
fbem-24785	43	23	enterprises	enterprise	NOUN
fbem-24785	43	24	.	.	PUNCT
fbem-24785	44	1	on	on	ADP
fbem-24785	44	2	the	the	DET
fbem-24785	44	3	one	one	NUM
fbem-24785	44	4	hand	hand	NOUN
fbem-24785	44	5	,	,	PUNCT
fbem-24785	44	6	when	when	SCONJ
fbem-24785	44	7	enterprises	enterprise	NOUN
fbem-24785	44	8	face	face	VERB
fbem-24785	44	9	economic	economic	ADJ
fbem-24785	44	10	policy	policy	NOUN
fbem-24785	44	11	uncertainty	uncertainty	NOUN
fbem-24785	44	12	,	,	PUNCT
fbem-24785	44	13	management	management	NOUN
fbem-24785	44	14	is	be	AUX
fbem-24785	44	15	more	more	ADV
fbem-24785	44	16	difficult	difficult	ADJ
fbem-24785	44	17	to	to	PART
fbem-24785	44	18	judge	judge	VERB
fbem-24785	44	19	the	the	DET
fbem-24785	44	20	future	future	ADJ
fbem-24785	44	21	business	business	NOUN
fbem-24785	44	22	form	form	NOUN
fbem-24785	44	23	,	,	PUNCT
fbem-24785	44	24	thus	thus	ADV
fbem-24785	44	25	affecting	affect	VERB
fbem-24785	44	26	the	the	DET
fbem-24785	44	27	expectation	expectation	NOUN
fbem-24785	44	28	of	of	ADP
fbem-24785	44	29	the	the	DET
fbem-24785	44	30	future	future	ADJ
fbem-24785	44	31	economy	economy	NOUN
fbem-24785	44	32	.	.	PUNCT
fbem-24785	45	1	in	in	ADP
fbem-24785	45	2	order	order	NOUN
fbem-24785	45	3	to	to	PART
fbem-24785	45	4	avoid	avoid	VERB
fbem-24785	45	5	risks	risk	NOUN
fbem-24785	45	6	,	,	PUNCT
fbem-24785	45	7	management	management	NOUN
fbem-24785	45	8	will	will	AUX
fbem-24785	45	9	reduce	reduce	VERB
fbem-24785	45	10	investment	investment	NOUN
fbem-24785	45	11	willingness	willingness	NOUN
fbem-24785	45	12	to	to	PART
fbem-24785	45	13	cope	cope	VERB
fbem-24785	45	14	with	with	ADP
fbem-24785	45	15	future	future	ADJ
fbem-24785	45	16	market	market	NOUN
fbem-24785	45	17	risks	risk	NOUN
fbem-24785	45	18	,	,	PUNCT
fbem-24785	45	19	legal	legal	ADJ
fbem-24785	45	20	risks	risk	NOUN
fbem-24785	45	21	,	,	PUNCT
fbem-24785	45	22	etc	etc	X
fbem-24785	45	23	.	.	X
fbem-24785	46	1	(	(	PUNCT
fbem-24785	46	2	rao	rao	NOUN
fbem-24785	46	3	pingui	pingui	VERB
fbem-24785	46	4	et	et	PROPN
fbem-24785	46	5	al	al	PROPN
fbem-24785	46	6	.	.	PROPN
fbem-24785	46	7	,	,	PUNCT
fbem-24785	46	8	2017	2017	NUM
fbem-24785	46	9	)	)	PUNCT
fbem-24785	47	1	[	[	X
fbem-24785	47	2	6	6	NUM
fbem-24785	47	3	]	]	PUNCT
fbem-24785	47	4	;	;	PUNCT
fbem-24785	47	5	on	on	ADP
fbem-24785	47	6	the	the	DET
fbem-24785	47	7	other	other	ADJ
fbem-24785	47	8	hand	hand	NOUN
fbem-24785	47	9	,	,	PUNCT
fbem-24785	47	10	when	when	SCONJ
fbem-24785	47	11	the	the	DET
fbem-24785	47	12	enterprise	enterprise	NOUN
fbem-24785	47	13	faces	face	VERB
fbem-24785	47	14	greater	great	ADJ
fbem-24785	47	15	uncertainty	uncertainty	NOUN
fbem-24785	47	16	,	,	PUNCT
fbem-24785	47	17	the	the	DET
fbem-24785	47	18	uncertainty	uncertainty	NOUN
fbem-24785	47	19	of	of	ADP
fbem-24785	47	20	the	the	DET
fbem-24785	47	21	future	future	ADJ
fbem-24785	47	22	cash	cash	NOUN
fbem-24785	47	23	flow	flow	NOUN
fbem-24785	47	24	of	of	ADP
fbem-24785	47	25	the	the	DET
fbem-24785	47	26	enterprise	enterprise	NOUN
fbem-24785	47	27	will	will	AUX
fbem-24785	47	28	also	also	ADV
fbem-24785	47	29	increase	increase	VERB
fbem-24785	47	30	accordingly	accordingly	ADV
fbem-24785	47	31	,	,	PUNCT
fbem-24785	47	32	which	which	PRON
fbem-24785	47	33	will	will	AUX
fbem-24785	47	34	increase	increase	VERB
fbem-24785	47	35	the	the	DET
fbem-24785	47	36	possibility	possibility	NOUN
fbem-24785	47	37	of	of	ADP
fbem-24785	47	38	future	future	ADJ
fbem-24785	47	39	cash	cash	NOUN
fbem-24785	47	40	flow	flow	NOUN
fbem-24785	47	41	shortage	shortage	NOUN
fbem-24785	47	42	,	,	PUNCT
fbem-24785	47	43	thus	thus	ADV
fbem-24785	47	44	increasing	increase	VERB
fbem-24785	47	45	the	the	DET
fbem-24785	47	46	potential	potential	ADJ
fbem-24785	47	47	bankruptcy	bankruptcy	NOUN
fbem-24785	47	48	risk	risk	NOUN
fbem-24785	47	49	of	of	ADP
fbem-24785	47	50	the	the	DET
fbem-24785	47	51	enterprise	enterprise	NOUN
fbem-24785	47	52	(	(	PUNCT
fbem-24785	47	53	han	han	PROPN
fbem-24785	47	54	liyan	liyan	PROPN
fbem-24785	47	55	et	et	PROPN
fbem-24785	47	56	al	al	PROPN
fbem-24785	47	57	.	.	PROPN
fbem-24785	47	58	,	,	PUNCT
fbem-24785	47	59	2011	2011	NUM
fbem-24785	47	60	)	)	PUNCT
fbem-24785	48	1	[	[	X
fbem-24785	48	2	7	7	NUM
fbem-24785	48	3	]	]	PUNCT
fbem-24785	48	4	,	,	PUNCT
fbem-24785	48	5	and	and	CCONJ
fbem-24785	48	6	the	the	DET
fbem-24785	48	7	enterprise	enterprise	NOUN
fbem-24785	48	8	is	be	AUX
fbem-24785	48	9	driven	drive	VERB
fbem-24785	48	10	by	by	ADP
fbem-24785	48	11	preventive	preventive	ADJ
fbem-24785	48	12	motivation	motivation	NOUN
fbem-24785	48	13	.	.	PUNCT
fbem-24785	49	1	in	in	ADP
fbem-24785	49	2	order	order	NOUN
fbem-24785	49	3	to	to	PART
fbem-24785	49	4	avoid	avoid	VERB
fbem-24785	49	5	the	the	DET
fbem-24785	49	6	situation	situation	NOUN
fbem-24785	49	7	of	of	ADP
fbem-24785	49	8	insufficient	insufficient	ADJ
fbem-24785	49	9	liquidity	liquidity	NOUN
fbem-24785	49	10	funds	fund	NOUN
fbem-24785	49	11	,	,	PUNCT
fbem-24785	49	12	enterprises	enterprise	NOUN
fbem-24785	49	13	will	will	AUX
fbem-24785	49	14	tend	tend	VERB
fbem-24785	49	15	to	to	PART
fbem-24785	49	16	increase	increase	VERB
fbem-24785	49	17	the	the	DET
fbem-24785	49	18	level	level	NOUN
fbem-24785	49	19	of	of	ADP
fbem-24785	49	20	cash	cash	NOUN
fbem-24785	49	21	holdings	holding	NOUN
fbem-24785	49	22	(	(	PUNCT
fbem-24785	49	23	wang	wang	PROPN
fbem-24785	49	24	hongjian	hongjian	PROPN
fbem-24785	49	25	et	et	PROPN
fbem-24785	49	26	al	al	PROPN
fbem-24785	49	27	.	.	PROPN
fbem-24785	49	28	,	,	PUNCT
fbem-24785	49	29	2014	2014	NUM
fbem-24785	49	30	)	)	PUNCT
fbem-24785	50	1	[	[	X
fbem-24785	50	2	8	8	NUM
fbem-24785	50	3	]	]	PUNCT
fbem-24785	50	4	.	.	PUNCT
fbem-24785	51	1	therefore	therefore	ADV
fbem-24785	51	2	,	,	PUNCT
fbem-24785	51	3	economic	economic	ADJ
fbem-24785	51	4	policy	policy	NOUN
fbem-24785	51	5	uncertainty	uncertainty	NOUN
fbem-24785	51	6	has	have	VERB
fbem-24785	51	7	various	various	ADJ
fbem-24785	51	8	effects	effect	NOUN
fbem-24785	51	9	on	on	ADP
fbem-24785	51	10	the	the	DET
fbem-24785	51	11	operation	operation	NOUN
fbem-24785	51	12	and	and	CCONJ
fbem-24785	51	13	decision	decision	NOUN
fbem-24785	51	14	-	-	PUNCT
fbem-24785	51	15	making	making	NOUN
fbem-24785	51	16	of	of	ADP
fbem-24785	51	17	enterprises	enterprise	NOUN
fbem-24785	51	18	.	.	PUNCT
fbem-24785	52	1	corporate	corporate	ADJ
fbem-24785	52	2	financial	financial	ADJ
fbem-24785	52	3	vulnerability	vulnerability	NOUN
fbem-24785	52	4	refers	refer	VERB
fbem-24785	52	5	to	to	ADP
fbem-24785	52	6	the	the	DET
fbem-24785	52	7	serious	serious	ADJ
fbem-24785	52	8	loss	loss	NOUN
fbem-24785	52	9	and	and	CCONJ
fbem-24785	52	10	serious	serious	ADJ
fbem-24785	52	11	shortage	shortage	NOUN
fbem-24785	52	12	of	of	ADP
fbem-24785	52	13	working	work	VERB
fbem-24785	52	14	capital	capital	NOUN
fbem-24785	52	15	caused	cause	VERB
fbem-24785	52	16	by	by	ADP
fbem-24785	52	17	poor	poor	ADJ
fbem-24785	52	18	management	management	NOUN
fbem-24785	52	19	or	or	CCONJ
fbem-24785	52	20	macroeconomic	macroeconomic	ADJ
fbem-24785	52	21	impact	impact	NOUN
fbem-24785	52	22	in	in	ADP
fbem-24785	52	23	the	the	DET
fbem-24785	52	24	operation	operation	NOUN
fbem-24785	52	25	process	process	NOUN
fbem-24785	52	26	of	of	ADP
fbem-24785	52	27	profit	profit	NOUN
fbem-24785	52	28	-	-	PUNCT
fbem-24785	52	29	making	make	VERB
fbem-24785	52	30	organizations	organization	NOUN
fbem-24785	52	31	,	,	PUNCT
fbem-24785	52	32	which	which	PRON
fbem-24785	52	33	aggravate	aggravate	VERB
fbem-24785	52	34	the	the	DET
fbem-24785	52	35	potential	potential	ADJ
fbem-24785	52	36	risk	risk	NOUN
fbem-24785	52	37	of	of	ADP
fbem-24785	52	38	bankruptcy	bankruptcy	NOUN
fbem-24785	52	39	of	of	ADP
fbem-24785	52	40	profit	profit	NOUN
fbem-24785	52	41	-	-	PUNCT
fbem-24785	52	42	making	make	VERB
fbem-24785	52	43	organizations	organization	NOUN
fbem-24785	52	44	(	(	PUNCT
fbem-24785	52	45	xiang	xiang	PROPN
fbem-24785	52	46	guyue	guyue	PROPN
fbem-24785	52	47	et	et	PROPN
fbem-24785	52	48	al	al	PROPN
fbem-24785	52	49	.	.	PROPN
fbem-24785	52	50	,	,	PUNCT
fbem-24785	52	51	2020	2020	NUM
fbem-24785	52	52	;	;	PUNCT
fbem-24785	52	53	gong	gong	PROPN
fbem-24785	52	54	jiafeng	jiafeng	PROPN
fbem-24785	52	55	et	et	PROPN
fbem-24785	52	56	al	al	PROPN
fbem-24785	52	57	.	.	PROPN
fbem-24785	52	58	,	,	PUNCT
fbem-24785	52	59	2021	2021	NUM
fbem-24785	52	60	)	)	PUNCT
fbem-24785	53	1	[	[	X
fbem-24785	53	2	9	9	NUM
fbem-24785	53	3	,	,	PUNCT
fbem-24785	53	4	10	10	NUM
fbem-24785	53	5	]	]	PUNCT
fbem-24785	53	6	.	.	PUNCT
fbem-24785	54	1	some	some	DET
fbem-24785	54	2	scholars	scholar	NOUN
fbem-24785	54	3	found	find	VERB
fbem-24785	54	4	that	that	SCONJ
fbem-24785	54	5	the	the	DET
fbem-24785	54	6	financial	financial	ADJ
fbem-24785	54	7	vulnerability	vulnerability	NOUN
fbem-24785	54	8	of	of	ADP
fbem-24785	54	9	an	an	DET
fbem-24785	54	10	enterprise	enterprise	NOUN
fbem-24785	54	11	is	be	AUX
fbem-24785	54	12	not	not	PART
fbem-24785	54	13	a	a	DET
fbem-24785	54	14	simple	simple	ADJ
fbem-24785	54	15	linear	linear	ADJ
fbem-24785	54	16	relationship	relationship	NOUN
fbem-24785	54	17	to	to	ADP
fbem-24785	54	18	the	the	DET
fbem-24785	54	19	financial	financial	ADJ
fbem-24785	54	20	situation	situation	NOUN
fbem-24785	54	21	of	of	ADP
fbem-24785	54	22	the	the	DET
fbem-24785	54	23	enterprise	enterprise	NOUN
fbem-24785	54	24	,	,	PUNCT
fbem-24785	54	25	and	and	CCONJ
fbem-24785	54	26	the	the	DET
fbem-24785	54	27	leverage	leverage	NOUN
fbem-24785	54	28	ratio	ratio	NOUN
fbem-24785	54	29	has	have	VERB
fbem-24785	54	30	a	a	DET
fbem-24785	54	31	significant	significant	ADJ
fbem-24785	54	32	correlation	correlation	NOUN
fbem-24785	54	33	to	to	ADP
fbem-24785	54	34	the	the	DET
fbem-24785	54	35	financial	financial	ADJ
fbem-24785	54	36	vulnerability	vulnerability	NOUN
fbem-24785	54	37	of	of	ADP
fbem-24785	54	38	the	the	DET
fbem-24785	54	39	enterprise	enterprise	NOUN
fbem-24785	54	40	,	,	PUNCT
fbem-24785	54	41	and	and	CCONJ
fbem-24785	54	42	has	have	VERB
fbem-24785	54	43	a	a	DET
fbem-24785	54	44	non	non	ADJ
fbem-24785	54	45	-	-	ADJ
fbem-24785	54	46	linear	linear	ADJ
fbem-24785	54	47	relationship	relationship	NOUN
fbem-24785	54	48	with	with	ADP
fbem-24785	54	49	the	the	DET
fbem-24785	54	50	financial	financial	ADJ
fbem-24785	54	51	robustness	robustness	NOUN
fbem-24785	54	52	of	of	ADP
fbem-24785	54	53	the	the	DET
fbem-24785	54	54	enterprise	enterprise	NOUN
fbem-24785	54	55	,	,	PUNCT
fbem-24785	54	56	that	that	ADV
fbem-24785	54	57	is	is	ADV
fbem-24785	54	58	,	,	PUNCT
fbem-24785	54	59	when	when	SCONJ
fbem-24785	54	60	the	the	DET
fbem-24785	54	61	financial	financial	ADJ
fbem-24785	54	62	leverage	leverage	NOUN
fbem-24785	54	63	ratio	ratio	NOUN
fbem-24785	54	64	of	of	ADP
fbem-24785	54	65	an	an	DET
fbem-24785	54	66	enterprise	enterprise	NOUN
fbem-24785	54	67	exceeds	exceed	VERB
fbem-24785	54	68	a	a	DET
fbem-24785	54	69	certain	certain	ADJ
fbem-24785	54	70	threshold	threshold	NOUN
fbem-24785	54	71	,	,	PUNCT
fbem-24785	54	72	it	it	PRON
fbem-24785	54	73	will	will	AUX
fbem-24785	54	74	cause	cause	VERB
fbem-24785	54	75	financial	financial	ADJ
fbem-24785	54	76	difficulties	difficulty	NOUN
fbem-24785	54	77	to	to	ADP
fbem-24785	54	78	the	the	DET
fbem-24785	54	79	manufacturing	manufacturing	NOUN
fbem-24785	54	80	enterprise	enterprise	NOUN
fbem-24785	54	81	,	,	PUNCT
fbem-24785	54	82	and	and	CCONJ
fbem-24785	54	83	the	the	DET
fbem-24785	54	84	increased	increase	VERB
fbem-24785	54	85	debt	debt	NOUN
fbem-24785	54	86	burden	burden	NOUN
fbem-24785	54	87	will	will	AUX
fbem-24785	54	88	increase	increase	VERB
fbem-24785	54	89	the	the	DET
fbem-24785	54	90	potential	potential	ADJ
fbem-24785	54	91	risk	risk	NOUN
fbem-24785	54	92	of	of	ADP
fbem-24785	54	93	enterprise	enterprise	NOUN
fbem-24785	54	94	bankruptcy	bankruptcy	NOUN
fbem-24785	54	95	(	(	PUNCT
fbem-24785	54	96	novita	novita	PROPN
fbem-24785	54	97	et	et	PROPN
fbem-24785	54	98	al	al	PROPN
fbem-24785	54	99	.	.	PROPN
fbem-24785	54	100	,	,	PUNCT
fbem-24785	54	101	2018	2018	NUM
fbem-24785	54	102	;	;	PUNCT
fbem-24785	54	103	masdupi	masdupi	PROPN
fbem-24785	54	104	et	et	PROPN
fbem-24785	54	105	al	al	PROPN
fbem-24785	54	106	.	.	PROPN
fbem-24785	54	107	,	,	PUNCT
fbem-24785	54	108	2018	2018	NUM
fbem-24785	54	109	)	)	PUNCT
fbem-24785	55	1	[	[	X
fbem-24785	55	2	11	11	NUM
fbem-24785	55	3	,	,	PUNCT
fbem-24785	55	4	12	12	NUM
fbem-24785	55	5	]	]	PUNCT
fbem-24785	55	6	.	.	PUNCT
fbem-24785	56	1	when	when	SCONJ
fbem-24785	56	2	economic	economic	ADJ
fbem-24785	56	3	policy	policy	NOUN
fbem-24785	56	4	uncertainty	uncertainty	NOUN
fbem-24785	56	5	rise	rise	VERB
fbem-24785	56	6	,	,	PUNCT
fbem-24785	56	7	enterprises	enterprise	NOUN
fbem-24785	56	8	for	for	ADP
fbem-24785	56	9	the	the	DET
fbem-24785	56	10	future	future	ADJ
fbem-24785	56	11	economic	economic	ADJ
fbem-24785	56	12	trends	trend	NOUN
fbem-24785	56	13	will	will	AUX
fbem-24785	56	14	be	be	AUX
fbem-24785	56	15	difficult	difficult	ADJ
fbem-24785	56	16	to	to	PART
fbem-24785	56	17	judge	judge	VERB
fbem-24785	56	18	,	,	PUNCT
fbem-24785	56	19	also	also	ADV
fbem-24785	56	20	means	mean	VERB
fbem-24785	56	21	that	that	SCONJ
fbem-24785	56	22	the	the	DET
fbem-24785	56	23	future	future	ADJ
fbem-24785	56	24	business	business	NOUN
fbem-24785	56	25	conditions	condition	NOUN
fbem-24785	56	26	,	,	PUNCT
fbem-24785	56	27	profitability	profitability	NOUN
fbem-24785	56	28	uncertainty	uncertainty	NOUN
fbem-24785	56	29	will	will	AUX
fbem-24785	56	30	rise	rise	VERB
fbem-24785	56	31	sharply	sharply	ADV
fbem-24785	56	32	,	,	PUNCT
fbem-24785	56	33	and	and	CCONJ
fbem-24785	56	34	it	it	PRON
fbem-24785	56	35	is	be	AUX
fbem-24785	56	36	difficult	difficult	ADJ
fbem-24785	56	37	to	to	PART
fbem-24785	56	38	forecast	forecast	VERB
fbem-24785	56	39	economic	economic	ADJ
fbem-24785	56	40	policy	policy	NOUN
fbem-24785	56	41	and	and	CCONJ
fbem-24785	56	42	implement	implement	VERB
fbem-24785	56	43	measures	measure	NOUN
fbem-24785	56	44	,	,	PUNCT
fbem-24785	56	45	enterprise	enterprise	NOUN
fbem-24785	56	46	external	external	ADJ
fbem-24785	56	47	financing	financing	NOUN
fbem-24785	56	48	activities	activity	NOUN
fbem-24785	56	49	will	will	AUX
fbem-24785	56	50	be	be	AUX
fbem-24785	56	51	the	the	DET
fbem-24785	56	52	impact	impact	NOUN
fbem-24785	56	53	of	of	ADP
fbem-24785	56	54	economic	economic	ADJ
fbem-24785	56	55	policy	policy	NOUN
fbem-24785	56	56	uncertainty	uncertainty	NOUN
fbem-24785	56	57	,	,	PUNCT
fbem-24785	56	58	enterprises	enterprise	NOUN
fbem-24785	56	59	will	will	AUX
fbem-24785	56	60	be	be	AUX
fbem-24785	56	61	more	more	ADV
fbem-24785	56	62	likely	likely	ADJ
fbem-24785	56	63	to	to	ADP
fbem-24785	56	64	financial	financial	ADJ
fbem-24785	56	65	difficulties	difficulty	NOUN
fbem-24785	56	66	(	(	PUNCT
fbem-24785	56	67	sun	sun	NOUN
fbem-24785	56	68	lincong	lincong	NOUN
fbem-24785	56	69	,	,	PUNCT
fbem-24785	56	70	2021	2021	NUM
fbem-24785	56	71	)	)	PUNCT
fbem-24785	57	1	[	[	X
fbem-24785	57	2	13	13	NUM
fbem-24785	57	3	]	]	PUNCT
fbem-24785	57	4	.	.	PUNCT
fbem-24785	58	1	in	in	ADP
fbem-24785	58	2	addition	addition	NOUN
fbem-24785	58	3	,	,	PUNCT
fbem-24785	58	4	when	when	SCONJ
fbem-24785	58	5	the	the	DET
fbem-24785	58	6	economic	economic	ADJ
fbem-24785	58	7	policy	policy	NOUN
fbem-24785	58	8	uncertainty	uncertainty	NOUN
fbem-24785	58	9	rises	rise	VERB
fbem-24785	58	10	,	,	PUNCT
fbem-24785	58	11	it	it	PRON
fbem-24785	58	12	will	will	AUX
fbem-24785	58	13	aggravate	aggravate	VERB
fbem-24785	58	14	the	the	DET
fbem-24785	58	15	information	information	NOUN
fbem-24785	58	16	asymmetry	asymmetry	NOUN
fbem-24785	58	17	and	and	CCONJ
fbem-24785	58	18	the	the	DET
fbem-24785	58	19	information	information	NOUN
fbem-24785	58	20	dispersion	dispersion	NOUN
fbem-24785	58	21	of	of	ADP
fbem-24785	58	22	the	the	DET
fbem-24785	58	23	external	external	ADJ
fbem-24785	58	24	capital	capital	NOUN
fbem-24785	58	25	market	market	NOUN
fbem-24785	58	26	,	,	PUNCT
fbem-24785	58	27	further	far	ADV
fbem-24785	58	28	increase	increase	VERB
fbem-24785	58	29	the	the	DET
fbem-24785	58	30	external	external	ADJ
fbem-24785	58	31	financing	financing	NOUN
fbem-24785	58	32	cost	cost	NOUN
fbem-24785	58	33	,	,	PUNCT
fbem-24785	58	34	and	and	CCONJ
fbem-24785	58	35	also	also	ADV
fbem-24785	58	36	increase	increase	VERB
fbem-24785	58	37	the	the	DET
fbem-24785	58	38	enterprise	enterprise	NOUN
fbem-24785	58	39	financing	financing	NOUN
fbem-24785	58	40	constraints	constraint	NOUN
fbem-24785	58	41	(	(	PUNCT
fbem-24785	58	42	deng	deng	PROPN
fbem-24785	58	43	xidong	xidong	PROPN
fbem-24785	58	44	et	et	PROPN
fbem-24785	58	45	al	al	PROPN
fbem-24785	58	46	.	.	PROPN
fbem-24785	58	47	,	,	PUNCT
fbem-24785	58	48	2015	2015	NUM
fbem-24785	58	49	)	)	PUNCT
fbem-24785	59	1	[	[	X
fbem-24785	59	2	14	14	NUM
fbem-24785	59	3	]	]	PUNCT
fbem-24785	59	4	,	,	PUNCT
fbem-24785	59	5	which	which	PRON
fbem-24785	59	6	may	may	AUX
fbem-24785	59	7	bring	bring	VERB
fbem-24785	59	8	negative	negative	ADJ
fbem-24785	59	9	impact	impact	NOUN
fbem-24785	59	10	to	to	ADP
fbem-24785	59	11	the	the	DET
fbem-24785	59	12	business	business	NOUN
fbem-24785	59	13	activities	activity	NOUN
fbem-24785	59	14	of	of	ADP
fbem-24785	59	15	enterprises	enterprise	NOUN
fbem-24785	59	16	,	,	PUNCT
fbem-24785	59	17	thus	thus	ADV
fbem-24785	59	18	aggravating	aggravate	VERB
fbem-24785	59	19	the	the	DET
fbem-24785	59	20	financial	financial	ADJ
fbem-24785	59	21	vulnerability	vulnerability	NOUN
fbem-24785	59	22	of	of	ADP
fbem-24785	59	23	enterprises	enterprise	NOUN
fbem-24785	59	24	.	.	PUNCT
fbem-24785	60	1	in	in	ADP
fbem-24785	60	2	conclusion	conclusion	NOUN
fbem-24785	60	3	,	,	PUNCT
fbem-24785	60	4	we	we	PRON
fbem-24785	60	5	propose	propose	VERB
fbem-24785	60	6	the	the	DET
fbem-24785	60	7	first	first	ADJ
fbem-24785	60	8	hypothesis	hypothesis	NOUN
fbem-24785	60	9	of	of	ADP
fbem-24785	60	10	this	this	DET
fbem-24785	60	11	article	article	NOUN
fbem-24785	60	12	,	,	PUNCT
fbem-24785	60	13	that	that	SCONJ
fbem-24785	60	14	:	:	PUNCT
fbem-24785	60	15	h1	h1	NOUN
fbem-24785	60	16	:	:	PUNCT
fbem-24785	60	17	economic	economic	ADJ
fbem-24785	60	18	policy	policy	NOUN
fbem-24785	60	19	uncertainty	uncertainty	NOUN
fbem-24785	60	20	will	will	AUX
fbem-24785	60	21	aggravate	aggravate	VERB
fbem-24785	60	22	the	the	DET
fbem-24785	60	23	financial	financial	ADJ
fbem-24785	60	24	vulnerability	vulnerability	NOUN
fbem-24785	60	25	of	of	ADP
fbem-24785	60	26	enterprises	enterprise	NOUN
fbem-24785	60	27	.	.	PUNCT
fbem-24785	61	1	2.2	2.2	NUM
fbem-24785	61	2	.	.	PUNCT
fbem-24785	62	1	economic	economic	ADJ
fbem-24785	62	2	policy	policy	NOUN
fbem-24785	62	3	uncertainty	uncertainty	NOUN
fbem-24785	62	4	,	,	PUNCT
fbem-24785	62	5	financing	financing	NOUN
fbem-24785	62	6	model	model	NOUN
fbem-24785	62	7	and	and	CCONJ
fbem-24785	62	8	corporate	corporate	ADJ
fbem-24785	62	9	financial	financial	ADJ
fbem-24785	62	10	vulnerability	vulnerability	NOUN
fbem-24785	62	11	enterprises	enterprise	NOUN
fbem-24785	62	12	obtain	obtain	VERB
fbem-24785	62	13	external	external	ADJ
fbem-24785	62	14	financing	financing	NOUN
fbem-24785	62	15	mainly	mainly	ADV
fbem-24785	62	16	through	through	ADP
fbem-24785	62	17	bank	bank	NOUN
fbem-24785	62	18	loans	loan	NOUN
fbem-24785	62	19	,	,	PUNCT
fbem-24785	62	20	equity	equity	NOUN
fbem-24785	62	21	financing	financing	NOUN
fbem-24785	62	22	,	,	PUNCT
fbem-24785	62	23	bond	bond	NOUN
fbem-24785	62	24	financing	financing	NOUN
fbem-24785	62	25	and	and	CCONJ
fbem-24785	62	26	commercial	commercial	ADJ
fbem-24785	62	27	credit	credit	NOUN
fbem-24785	62	28	.	.	PUNCT
fbem-24785	63	1	financing	finance	VERB
fbem-24785	63	2	these	these	DET
fbem-24785	63	3	four	four	NUM
fbem-24785	63	4	aspects	aspect	NOUN
fbem-24785	63	5	.	.	PUNCT
fbem-24785	64	1	china	china	PROPN
fbem-24785	64	2	is	be	AUX
fbem-24785	64	3	a	a	DET
fbem-24785	64	4	'	'	PUNCT
fbem-24785	64	5	bank	bank	NOUN
fbem-24785	64	6	-	-	PUNCT
fbem-24785	64	7	centered	center	VERB
fbem-24785	64	8	'	'	PUNCT
fbem-24785	64	9	financial	financial	ADJ
fbem-24785	64	10	system	system	NOUN
fbem-24785	64	11	,	,	PUNCT
fbem-24785	64	12	and	and	CCONJ
fbem-24785	64	13	bank	bank	NOUN
fbem-24785	64	14	loans	loan	NOUN
fbem-24785	64	15	are	be	AUX
fbem-24785	64	16	the	the	DET
fbem-24785	64	17	most	most	ADV
fbem-24785	64	18	important	important	ADJ
fbem-24785	64	19	and	and	CCONJ
fbem-24785	64	20	common	common	ADJ
fbem-24785	64	21	financing	financing	NOUN
fbem-24785	64	22	channels	channel	NOUN
fbem-24785	64	23	in	in	ADP
fbem-24785	64	24	china	china	PROPN
fbem-24785	64	25	(	(	PUNCT
fbem-24785	64	26	gatev	gatev	X
fbem-24785	64	27	e	e	PROPN
fbem-24785	64	28	et	et	NOUN
fbem-24785	64	29	al	al	PROPN
fbem-24785	64	30	.	.	PROPN
fbem-24785	64	31	,	,	PUNCT
fbem-24785	64	32	2006	2006	NUM
fbem-24785	64	33	)	)	PUNCT
fbem-24785	65	1	[	[	X
fbem-24785	65	2	15	15	NUM
fbem-24785	65	3	]	]	PUNCT
fbem-24785	65	4	.	.	PUNCT
fbem-24785	66	1	first	first	ADV
fbem-24785	66	2	of	of	ADP
fbem-24785	66	3	all	all	PRON
fbem-24785	66	4	,	,	PUNCT
fbem-24785	66	5	bank	bank	NOUN
fbem-24785	66	6	financial	financial	ADJ
fbem-24785	66	7	institutions	institution	NOUN
fbem-24785	66	8	can	can	AUX
fbem-24785	66	9	obtain	obtain	VERB
fbem-24785	66	10	effective	effective	ADJ
fbem-24785	66	11	information	information	NOUN
fbem-24785	66	12	of	of	ADP
fbem-24785	66	13	enterprises	enterprise	NOUN
fbem-24785	66	14	through	through	ADP
fbem-24785	66	15	the	the	DET
fbem-24785	66	16	capital	capital	NOUN
fbem-24785	66	17	market	market	NOUN
fbem-24785	66	18	,	,	PUNCT
fbem-24785	66	19	understand	understand	VERB
fbem-24785	66	20	the	the	DET
fbem-24785	66	21	basic	basic	ADJ
fbem-24785	66	22	situation	situation	NOUN
fbem-24785	66	23	of	of	ADP
fbem-24785	66	24	enterprises	enterprise	NOUN
fbem-24785	66	25	,	,	PUNCT
fbem-24785	66	26	and	and	CCONJ
fbem-24785	66	27	effectively	effectively	ADV
fbem-24785	66	28	avoid	avoid	VERB
fbem-24785	66	29	the	the	DET
fbem-24785	66	30	problem	problem	NOUN
fbem-24785	66	31	of	of	ADP
fbem-24785	66	32	information	information	NOUN
fbem-24785	66	33	asymmetry	asymmetry	NOUN
fbem-24785	66	34	among	among	ADP
fbem-24785	66	35	market	market	NOUN
fbem-24785	66	36	participants	participant	NOUN
fbem-24785	66	37	(	(	PUNCT
fbem-24785	66	38	luigi	luigi	PROPN
fbem-24785	66	39	benfratello	benfratello	PROPN
fbem-24785	66	40	et	et	PROPN
fbem-24785	66	41	al	al	PROPN
fbem-24785	66	42	.	.	PROPN
fbem-24785	66	43	,	,	PUNCT
fbem-24785	66	44	2008	2008	NUM
fbem-24785	66	45	)	)	PUNCT
fbem-24785	67	1	[	[	X
fbem-24785	67	2	16	16	NUM
fbem-24785	67	3	]	]	PUNCT
fbem-24785	67	4	,	,	PUNCT
fbem-24785	67	5	thereby	thereby	ADV
fbem-24785	67	6	reducing	reduce	VERB
fbem-24785	67	7	the	the	DET
fbem-24785	67	8	financing	financing	NOUN
fbem-24785	67	9	cost	cost	NOUN
fbem-24785	67	10	of	of	ADP
fbem-24785	67	11	enterprises	enterprise	NOUN
fbem-24785	67	12	.	.	PUNCT
fbem-24785	68	1	in	in	ADP
fbem-24785	68	2	order	order	NOUN
fbem-24785	68	3	to	to	PART
fbem-24785	68	4	strengthen	strengthen	VERB
fbem-24785	68	5	the	the	DET
fbem-24785	68	6	control	control	NOUN
fbem-24785	68	7	of	of	ADP
fbem-24785	68	8	enterprises	enterprise	NOUN
fbem-24785	68	9	and	and	CCONJ
fbem-24785	68	10	avoid	avoid	VERB
fbem-24785	68	11	the	the	DET
fbem-24785	68	12	dilution	dilution	NOUN
fbem-24785	68	13	of	of	ADP
fbem-24785	68	14	equity	equity	NOUN
fbem-24785	68	15	,	,	PUNCT
fbem-24785	68	16	managers	manager	NOUN
fbem-24785	68	17	choose	choose	VERB
fbem-24785	68	18	to	to	PART
fbem-24785	68	19	rely	rely	VERB
fbem-24785	68	20	more	more	ADV
fbem-24785	68	21	on	on	ADP
fbem-24785	68	22	debt	debt	NOUN
fbem-24785	68	23	financing	financing	NOUN
fbem-24785	68	24	rather	rather	ADV
fbem-24785	68	25	than	than	ADP
fbem-24785	68	26	equity	equity	NOUN
fbem-24785	68	27	financing	financing	NOUN
fbem-24785	68	28	.	.	PUNCT
fbem-24785	69	1	therefore	therefore	ADV
fbem-24785	69	2	,	,	PUNCT
fbem-24785	69	3	bank	bank	NOUN
fbem-24785	69	4	loans	loan	NOUN
fbem-24785	69	5	play	play	VERB
fbem-24785	69	6	an	an	DET
fbem-24785	69	7	important	important	ADJ
fbem-24785	69	8	role	role	NOUN
fbem-24785	69	9	in	in	ADP
fbem-24785	69	10	alleviating	alleviate	VERB
fbem-24785	69	11	financing	financing	NOUN
fbem-24785	69	12	needs	need	NOUN
fbem-24785	69	13	and	and	CCONJ
fbem-24785	69	14	protecting	protect	VERB
fbem-24785	69	15	business	business	NOUN
fbem-24785	69	16	operations	operation	NOUN
fbem-24785	69	17	.	.	PUNCT
fbem-24785	70	1	secondly	secondly	ADV
fbem-24785	70	2	,	,	PUNCT
fbem-24785	70	3	credit	credit	NOUN
fbem-24785	70	4	claims	claim	NOUN
fbem-24785	70	5	have	have	AUX
fbem-24785	70	6	gradually	gradually	ADV
fbem-24785	70	7	become	become	VERB
fbem-24785	70	8	an	an	DET
fbem-24785	70	9	important	important	ADJ
fbem-24785	70	10	financing	financing	NOUN
fbem-24785	70	11	channel	channel	NOUN
fbem-24785	70	12	for	for	ADP
fbem-24785	70	13	market	market	NOUN
fbem-24785	70	14	participants	participant	NOUN
fbem-24785	70	15	(	(	PUNCT
fbem-24785	70	16	wenfeng	wenfeng	PROPN
fbem-24785	70	17	wu	wu	PROPN
fbem-24785	70	18	et	et	PROPN
fbem-24785	70	19	al	al	PROPN
fbem-24785	70	20	.	.	PROPN
fbem-24785	70	21	,	,	PUNCT
fbem-24785	70	22	2012	2012	NUM
fbem-24785	70	23	)	)	PUNCT
fbem-24785	71	1	[	[	X
fbem-24785	71	2	17	17	NUM
fbem-24785	71	3	]	]	PUNCT
fbem-24785	71	4	.	.	PUNCT
fbem-24785	72	1	as	as	ADP
fbem-24785	72	2	an	an	DET
fbem-24785	72	3	informal	informal	ADJ
fbem-24785	72	4	financing	financing	NOUN
fbem-24785	72	5	method	method	NOUN
fbem-24785	72	6	,	,	PUNCT
fbem-24785	72	7	commercial	commercial	ADJ
fbem-24785	72	8	credit	credit	NOUN
fbem-24785	72	9	has	have	VERB
fbem-24785	72	10	the	the	DET
fbem-24785	72	11	function	function	NOUN
fbem-24785	72	12	of	of	ADP
fbem-24785	72	13	financing	financing	NOUN
fbem-24785	72	14	substitution	substitution	NOUN
fbem-24785	72	15	,	,	PUNCT
fbem-24785	72	16	that	that	ADV
fbem-24785	72	17	is	is	ADV
fbem-24785	72	18	,	,	PUNCT
fbem-24785	72	19	when	when	SCONJ
fbem-24785	72	20	enterprises	enterprise	NOUN
fbem-24785	72	21	can	can	AUX
fbem-24785	72	22	not	not	PART
fbem-24785	72	23	obtain	obtain	VERB
fbem-24785	72	24	loan	loan	NOUN
fbem-24785	72	25	funds	fund	NOUN
fbem-24785	72	26	from	from	ADP
fbem-24785	72	27	banks	bank	NOUN
fbem-24785	72	28	,	,	PUNCT
fbem-24785	72	29	enterprises	enterprise	NOUN
fbem-24785	72	30	can	can	AUX
fbem-24785	72	31	obtain	obtain	VERB
fbem-24785	72	32	loan	loan	NOUN
fbem-24785	72	33	funds	fund	NOUN
fbem-24785	72	34	from	from	ADP
fbem-24785	72	35	suppliers	supplier	NOUN
fbem-24785	72	36	through	through	ADP
fbem-24785	72	37	commercial	commercial	ADJ
fbem-24785	72	38	credit	credit	NOUN
fbem-24785	72	39	to	to	PART
fbem-24785	72	40	alleviate	alleviate	VERB
fbem-24785	72	41	their	their	PRON
fbem-24785	72	42	financing	financing	NOUN
fbem-24785	72	43	constraints	constraint	NOUN
fbem-24785	72	44	(	(	PUNCT
fbem-24785	72	45	raymond	raymond	PROPN
fbem-24785	72	46	fisman	fisman	PROPN
fbem-24785	72	47	et	et	PROPN
fbem-24785	72	48	al	al	PROPN
fbem-24785	72	49	.	.	PROPN
fbem-24785	72	50	,	,	PUNCT
fbem-24785	72	51	2003	2003	NUM
fbem-24785	72	52	)	)	PUNCT
fbem-24785	73	1	[	[	X
fbem-24785	73	2	18	18	NUM
fbem-24785	73	3	]	]	PUNCT
fbem-24785	73	4	.	.	PUNCT
fbem-24785	74	1	as	as	ADP
fbem-24785	74	2	creditors	creditor	NOUN
fbem-24785	74	3	of	of	ADP
fbem-24785	74	4	enterprises	enterprise	NOUN
fbem-24785	74	5	,	,	PUNCT
fbem-24785	74	6	suppliers	supplier	NOUN
fbem-24785	74	7	provide	provide	VERB
fbem-24785	74	8	financial	financial	ADJ
fbem-24785	74	9	support	support	NOUN
fbem-24785	74	10	to	to	ADP
fbem-24785	74	11	enterprises	enterprise	NOUN
fbem-24785	74	12	through	through	ADP
fbem-24785	74	13	commercial	commercial	ADJ
fbem-24785	74	14	credit	credit	NOUN
fbem-24785	74	15	financing	financing	NOUN
fbem-24785	74	16	,	,	PUNCT
fbem-24785	74	17	indicating	indicate	VERB
fbem-24785	74	18	that	that	SCONJ
fbem-24785	74	19	enterprises	enterprise	NOUN
fbem-24785	74	20	rely	rely	VERB
fbem-24785	74	21	on	on	ADP
fbem-24785	74	22	good	good	ADJ
fbem-24785	74	23	reputation	reputation	NOUN
fbem-24785	74	24	and	and	CCONJ
fbem-24785	74	25	competitive	competitive	ADJ
fbem-24785	74	26	advantage	advantage	NOUN
fbem-24785	74	27	.	.	PUNCT
fbem-24785	75	1	establish	establish	VERB
fbem-24785	75	2	a	a	DET
fbem-24785	75	3	good	good	ADJ
fbem-24785	75	4	supply	supply	NOUN
fbem-24785	75	5	and	and	CCONJ
fbem-24785	75	6	marketing	marketing	NOUN
fbem-24785	75	7	relationship	relationship	NOUN
fbem-24785	75	8	with	with	ADP
fbem-24785	75	9	suppliers	supplier	NOUN
fbem-24785	75	10	,	,	PUNCT
fbem-24785	75	11	mutual	mutual	ADJ
fbem-24785	75	12	benefit	benefit	NOUN
fbem-24785	75	13	and	and	CCONJ
fbem-24785	75	14	win	win	NOUN
fbem-24785	75	15	-	-	PUNCT
fbem-24785	75	16	win	win	NOUN
fbem-24785	75	17	;	;	PUNCT
fbem-24785	75	18	finally	finally	ADV
fbem-24785	75	19	,	,	PUNCT
fbem-24785	75	20	due	due	ADP
fbem-24785	75	21	to	to	ADP
fbem-24785	75	22	the	the	DET
fbem-24785	75	23	late	late	ADJ
fbem-24785	75	24	development	development	NOUN
fbem-24785	75	25	of	of	ADP
fbem-24785	75	26	china	china	PROPN
fbem-24785	75	27	's	's	PART
fbem-24785	75	28	capital	capital	NOUN
fbem-24785	75	29	market	market	NOUN
fbem-24785	75	30	,	,	PUNCT
fbem-24785	75	31	equity	equity	NOUN
fbem-24785	75	32	financing	financing	NOUN
fbem-24785	75	33	and	and	CCONJ
fbem-24785	75	34	bond	bond	NOUN
fbem-24785	75	35	financing	financing	NOUN
fbem-24785	75	36	are	be	AUX
fbem-24785	75	37	still	still	ADV
fbem-24785	75	38	not	not	PART
fbem-24785	75	39	the	the	DET
fbem-24785	75	40	main	main	ADJ
fbem-24785	75	41	financing	financing	NOUN
fbem-24785	75	42	channels	channel	NOUN
fbem-24785	75	43	for	for	ADP
fbem-24785	75	44	enterprises	enterprise	NOUN
fbem-24785	75	45	.	.	PUNCT
fbem-24785	76	1	equity	equity	NOUN
fbem-24785	76	2	financing	financing	NOUN
fbem-24785	76	3	and	and	CCONJ
fbem-24785	76	4	bond	bond	NOUN
fbem-24785	76	5	financing	financing	NOUN
fbem-24785	76	6	may	may	AUX
fbem-24785	76	7	cause	cause	VERB
fbem-24785	76	8	management	management	NOUN
fbem-24785	76	9	concerns	concern	NOUN
fbem-24785	76	10	about	about	ADP
fbem-24785	76	11	equity	equity	NOUN
fbem-24785	76	12	dilution	dilution	NOUN
fbem-24785	76	13	.	.	PUNCT
fbem-24785	77	1	therefore	therefore	ADV
fbem-24785	77	2	,	,	PUNCT
fbem-24785	77	3	compared	compare	VERB
fbem-24785	77	4	with	with	ADP
fbem-24785	77	5	bank	bank	NOUN
fbem-24785	77	6	loans	loan	NOUN
fbem-24785	77	7	,	,	PUNCT
fbem-24785	77	8	equity	equity	NOUN
fbem-24785	77	9	financing	financing	NOUN
fbem-24785	77	10	and	and	CCONJ
fbem-24785	77	11	bond	bond	NOUN
fbem-24785	77	12	financing	financing	NOUN
fbem-24785	77	13	account	account	NOUN
fbem-24785	77	14	for	for	ADP
fbem-24785	77	15	a	a	DET
fbem-24785	77	16	relatively	relatively	ADV
fbem-24785	77	17	small	small	ADJ
fbem-24785	77	18	proportion	proportion	NOUN
fbem-24785	77	19	of	of	ADP
fbem-24785	77	20	the	the	DET
fbem-24785	77	21	financing	financing	NOUN
fbem-24785	77	22	market	market	NOUN
fbem-24785	77	23	(	(	PUNCT
fbem-24785	77	24	chen	chen	PROPN
fbem-24785	77	25	mingli	mingli	PROPN
fbem-24785	77	26	et	et	PROPN
fbem-24785	77	27	al	al	PROPN
fbem-24785	77	28	.	.	PROPN
fbem-24785	77	29	,	,	PUNCT
fbem-24785	77	30	2018	2018	NUM
fbem-24785	77	31	)	)	PUNCT
fbem-24785	78	1	[	[	X
fbem-24785	78	2	19	19	NUM
fbem-24785	78	3	]	]	PUNCT
fbem-24785	78	4	.	.	PUNCT
fbem-24785	79	1	408	408	NUM
fbem-24785	79	2	2.2.1	2.2.1	NUM
fbem-24785	79	3	.	.	PUNCT
fbem-24785	80	1	economic	economic	ADJ
fbem-24785	80	2	policy	policy	NOUN
fbem-24785	80	3	uncertainty	uncertainty	NOUN
fbem-24785	80	4	,	,	PUNCT
fbem-24785	80	5	bank	bank	NOUN
fbem-24785	80	6	loans	loan	NOUN
fbem-24785	80	7	and	and	CCONJ
fbem-24785	80	8	corporate	corporate	ADJ
fbem-24785	80	9	financial	financial	ADJ
fbem-24785	80	10	vulnerability	vulnerability	NOUN
fbem-24785	80	11	from	from	ADP
fbem-24785	80	12	the	the	DET
fbem-24785	80	13	relevant	relevant	ADJ
fbem-24785	80	14	theoretical	theoretical	ADJ
fbem-24785	80	15	literature	literature	NOUN
fbem-24785	80	16	,	,	PUNCT
fbem-24785	80	17	banks	bank	NOUN
fbem-24785	80	18	,	,	PUNCT
fbem-24785	80	19	as	as	ADP
fbem-24785	80	20	the	the	DET
fbem-24785	80	21	main	main	ADJ
fbem-24785	80	22	participants	participant	NOUN
fbem-24785	80	23	in	in	ADP
fbem-24785	80	24	economic	economic	ADJ
fbem-24785	80	25	activities	activity	NOUN
fbem-24785	80	26	and	and	CCONJ
fbem-24785	80	27	financial	financial	ADJ
fbem-24785	80	28	intermediaries	intermediary	NOUN
fbem-24785	80	29	,	,	PUNCT
fbem-24785	80	30	will	will	AUX
fbem-24785	80	31	be	be	AUX
fbem-24785	80	32	affected	affect	VERB
fbem-24785	80	33	by	by	ADP
fbem-24785	80	34	macroeconomic	macroeconomic	ADJ
fbem-24785	80	35	policy	policy	NOUN
fbem-24785	80	36	uncertainty	uncertainty	NOUN
fbem-24785	80	37	(	(	PUNCT
fbem-24785	80	38	bruno	bruno	PROPN
fbem-24785	80	39	et	et	PROPN
fbem-24785	80	40	al	al	PROPN
fbem-24785	80	41	.	.	PROPN
fbem-24785	80	42	,	,	PUNCT
fbem-24785	80	43	2015	2015	NUM
fbem-24785	80	44	)	)	PUNCT
fbem-24785	81	1	[	[	X
fbem-24785	81	2	20	20	NUM
fbem-24785	81	3	]	]	PUNCT
fbem-24785	81	4	.	.	PUNCT
fbem-24785	82	1	in	in	ADP
fbem-24785	82	2	china	china	PROPN
fbem-24785	82	3	's	's	PART
fbem-24785	82	4	current	current	ADJ
fbem-24785	82	5	context	context	NOUN
fbem-24785	82	6	,	,	PUNCT
fbem-24785	82	7	bank	bank	NOUN
fbem-24785	82	8	loans	loan	NOUN
fbem-24785	82	9	are	be	AUX
fbem-24785	82	10	the	the	DET
fbem-24785	82	11	main	main	ADJ
fbem-24785	82	12	financing	financing	NOUN
fbem-24785	82	13	channel	channel	NOUN
fbem-24785	82	14	.	.	PUNCT
fbem-24785	83	1	economic	economic	ADJ
fbem-24785	83	2	policy	policy	NOUN
fbem-24785	83	3	uncertainty	uncertainty	NOUN
fbem-24785	83	4	mainly	mainly	ADV
fbem-24785	83	5	affects	affect	VERB
fbem-24785	83	6	the	the	DET
fbem-24785	83	7	external	external	ADJ
fbem-24785	83	8	financing	financing	NOUN
fbem-24785	83	9	of	of	ADP
fbem-24785	83	10	enterprises	enterprise	NOUN
fbem-24785	83	11	through	through	ADP
fbem-24785	83	12	bank	bank	NOUN
fbem-24785	83	13	credit	credit	NOUN
fbem-24785	83	14	,	,	PUNCT
fbem-24785	83	15	while	while	SCONJ
fbem-24785	83	16	china	china	PROPN
fbem-24785	83	17	's	's	PART
fbem-24785	83	18	credit	credit	NOUN
fbem-24785	83	19	market	market	NOUN
fbem-24785	83	20	as	as	ADP
fbem-24785	83	21	a	a	DET
fbem-24785	83	22	seller	seller	NOUN
fbem-24785	83	23	's	's	PART
fbem-24785	83	24	market	market	NOUN
fbem-24785	83	25	,	,	PUNCT
fbem-24785	83	26	bank	bank	NOUN
fbem-24785	83	27	loan	loan	NOUN
fbem-24785	83	28	resources	resource	NOUN
fbem-24785	83	29	are	be	AUX
fbem-24785	83	30	limited	limited	ADJ
fbem-24785	83	31	.	.	PUNCT
fbem-24785	84	1	therefore	therefore	ADV
fbem-24785	84	2	,	,	PUNCT
fbem-24785	84	3	when	when	SCONJ
fbem-24785	84	4	the	the	DET
fbem-24785	84	5	uncertainty	uncertainty	NOUN
fbem-24785	84	6	of	of	ADP
fbem-24785	84	7	economic	economic	ADJ
fbem-24785	84	8	policy	policy	NOUN
fbem-24785	84	9	rises	rise	NOUN
fbem-24785	84	10	,	,	PUNCT
fbem-24785	84	11	in	in	ADP
fbem-24785	84	12	order	order	NOUN
fbem-24785	84	13	to	to	PART
fbem-24785	84	14	cope	cope	VERB
fbem-24785	84	15	with	with	ADP
fbem-24785	84	16	external	external	ADJ
fbem-24785	84	17	business	business	NOUN
fbem-24785	84	18	risks	risk	NOUN
fbem-24785	84	19	and	and	CCONJ
fbem-24785	84	20	maintain	maintain	VERB
fbem-24785	84	21	production	production	NOUN
fbem-24785	84	22	and	and	CCONJ
fbem-24785	84	23	operation	operation	NOUN
fbem-24785	84	24	,	,	PUNCT
fbem-24785	84	25	enterprises	enterprise	NOUN
fbem-24785	84	26	are	be	AUX
fbem-24785	84	27	willing	willing	ADJ
fbem-24785	84	28	to	to	PART
fbem-24785	84	29	bear	bear	VERB
fbem-24785	84	30	higher	high	ADJ
fbem-24785	84	31	financing	financing	NOUN
fbem-24785	84	32	costs	cost	NOUN
fbem-24785	84	33	and	and	CCONJ
fbem-24785	84	34	strengthen	strengthen	VERB
fbem-24785	84	35	their	their	PRON
fbem-24785	84	36	willingness	willingness	NOUN
fbem-24785	84	37	to	to	PART
fbem-24785	84	38	borrow	borrow	VERB
fbem-24785	84	39	.	.	PUNCT
fbem-24785	85	1	with	with	ADP
fbem-24785	85	2	the	the	DET
fbem-24785	85	3	expansion	expansion	NOUN
fbem-24785	85	4	of	of	ADP
fbem-24785	85	5	the	the	DET
fbem-24785	85	6	scale	scale	NOUN
fbem-24785	85	7	of	of	ADP
fbem-24785	85	8	enterprises	enterprise	NOUN
fbem-24785	85	9	,	,	PUNCT
fbem-24785	85	10	enterprises	enterprise	NOUN
fbem-24785	85	11	are	be	AUX
fbem-24785	85	12	more	more	ADV
fbem-24785	85	13	likely	likely	ADJ
fbem-24785	85	14	to	to	PART
fbem-24785	85	15	receive	receive	VERB
fbem-24785	85	16	support	support	NOUN
fbem-24785	85	17	from	from	ADP
fbem-24785	85	18	the	the	DET
fbem-24785	85	19	government	government	NOUN
fbem-24785	85	20	,	,	PUNCT
fbem-24785	85	21	and	and	CCONJ
fbem-24785	85	22	have	have	VERB
fbem-24785	85	23	an	an	DET
fbem-24785	85	24	incentive	incentive	NOUN
fbem-24785	85	25	to	to	PART
fbem-24785	85	26	borrow	borrow	VERB
fbem-24785	85	27	more	more	ADJ
fbem-24785	85	28	from	from	ADP
fbem-24785	85	29	banks	bank	NOUN
fbem-24785	85	30	to	to	PART
fbem-24785	85	31	resist	resist	VERB
fbem-24785	85	32	the	the	DET
fbem-24785	85	33	risk	risk	NOUN
fbem-24785	85	34	of	of	ADP
fbem-24785	85	35	economic	economic	ADJ
fbem-24785	85	36	downturn	downturn	NOUN
fbem-24785	85	37	(	(	PUNCT
fbem-24785	85	38	chen	chen	PROPN
fbem-24785	85	39	yinmo	yinmo	PROPN
fbem-24785	85	40	et	et	PROPN
fbem-24785	85	41	al	al	PROPN
fbem-24785	85	42	.	.	PROPN
fbem-24785	85	43	,	,	PUNCT
fbem-24785	85	44	2020	2020	NUM
fbem-24785	85	45	)	)	PUNCT
fbem-24785	86	1	[	[	X
fbem-24785	86	2	21	21	NUM
fbem-24785	86	3	]	]	PUNCT
fbem-24785	86	4	.	.	PUNCT
fbem-24785	87	1	since	since	SCONJ
fbem-24785	87	2	the	the	DET
fbem-24785	87	3	financial	financial	ADJ
fbem-24785	87	4	crisis	crisis	NOUN
fbem-24785	87	5	in	in	ADP
fbem-24785	87	6	2008	2008	NUM
fbem-24785	87	7	,	,	PUNCT
fbem-24785	87	8	in	in	ADP
fbem-24785	87	9	order	order	NOUN
fbem-24785	87	10	to	to	PART
fbem-24785	87	11	stabilize	stabilize	VERB
fbem-24785	87	12	economic	economic	ADJ
fbem-24785	87	13	growth	growth	NOUN
fbem-24785	87	14	,	,	PUNCT
fbem-24785	87	15	china	china	PROPN
fbem-24785	87	16	's	's	PART
fbem-24785	87	17	economic	economic	ADJ
fbem-24785	87	18	policies	policy	NOUN
fbem-24785	87	19	have	have	AUX
fbem-24785	87	20	tended	tend	VERB
fbem-24785	87	21	to	to	PART
fbem-24785	87	22	be	be	AUX
fbem-24785	87	23	loose	loose	ADJ
fbem-24785	87	24	.	.	PUNCT
fbem-24785	88	1	at	at	ADP
fbem-24785	88	2	this	this	DET
fbem-24785	88	3	time	time	NOUN
fbem-24785	88	4	,	,	PUNCT
fbem-24785	88	5	in	in	ADP
fbem-24785	88	6	order	order	NOUN
fbem-24785	88	7	to	to	PART
fbem-24785	88	8	maintain	maintain	VERB
fbem-24785	88	9	financial	financial	ADJ
fbem-24785	88	10	security	security	NOUN
fbem-24785	88	11	,	,	PUNCT
fbem-24785	88	12	commercial	commercial	ADJ
fbem-24785	88	13	banks	bank	NOUN
fbem-24785	88	14	will	will	AUX
fbem-24785	88	15	relax	relax	VERB
fbem-24785	88	16	the	the	DET
fbem-24785	88	17	conditions	condition	NOUN
fbem-24785	88	18	for	for	ADP
fbem-24785	88	19	loan	loan	NOUN
fbem-24785	88	20	approval	approval	NOUN
fbem-24785	88	21	,	,	PUNCT
fbem-24785	88	22	increase	increase	VERB
fbem-24785	88	23	the	the	DET
fbem-24785	88	24	scale	scale	NOUN
fbem-24785	88	25	of	of	ADP
fbem-24785	88	26	loans	loan	NOUN
fbem-24785	88	27	,	,	PUNCT
fbem-24785	88	28	and	and	CCONJ
fbem-24785	88	29	increase	increase	VERB
fbem-24785	88	30	the	the	DET
fbem-24785	88	31	level	level	NOUN
fbem-24785	88	32	of	of	ADP
fbem-24785	88	33	risk	risk	NOUN
fbem-24785	88	34	-	-	PUNCT
fbem-24785	88	35	taking	taking	NOUN
fbem-24785	88	36	(	(	PUNCT
fbem-24785	88	37	pan	pan	PROPN
fbem-24785	88	38	pan	pan	PROPN
fbem-24785	88	39	et	et	PROPN
fbem-24785	88	40	al	al	PROPN
fbem-24785	88	41	.	.	PROPN
fbem-24785	88	42	,	,	PUNCT
fbem-24785	88	43	2020	2020	NUM
fbem-24785	88	44	)	)	PUNCT
fbem-24785	89	1	[	[	X
fbem-24785	89	2	22	22	NUM
fbem-24785	89	3	]	]	PUNCT
fbem-24785	89	4	.	.	PUNCT
fbem-24785	90	1	the	the	DET
fbem-24785	90	2	external	external	ADJ
fbem-24785	90	3	financing	financing	NOUN
fbem-24785	90	4	environment	environment	NOUN
fbem-24785	90	5	faced	face	VERB
fbem-24785	90	6	by	by	ADP
fbem-24785	90	7	enterprises	enterprise	NOUN
fbem-24785	90	8	also	also	ADV
fbem-24785	90	9	tends	tend	VERB
fbem-24785	90	10	to	to	PART
fbem-24785	90	11	be	be	AUX
fbem-24785	90	12	loose	loose	ADJ
fbem-24785	90	13	,	,	PUNCT
fbem-24785	90	14	and	and	CCONJ
fbem-24785	90	15	the	the	DET
fbem-24785	90	16	possibility	possibility	NOUN
fbem-24785	90	17	of	of	ADP
fbem-24785	90	18	enterprises	enterprise	NOUN
fbem-24785	90	19	obtaining	obtain	VERB
fbem-24785	90	20	loans	loan	NOUN
fbem-24785	90	21	from	from	ADP
fbem-24785	90	22	banks	bank	NOUN
fbem-24785	90	23	increases	increase	NOUN
fbem-24785	90	24	.	.	PUNCT
fbem-24785	91	1	entrepreneurs	entrepreneur	NOUN
fbem-24785	91	2	with	with	ADP
fbem-24785	91	3	adventurous	adventurous	ADJ
fbem-24785	91	4	spirit	spirit	NOUN
fbem-24785	91	5	look	look	VERB
fbem-24785	91	6	for	for	ADP
fbem-24785	91	7	new	new	ADJ
fbem-24785	91	8	profit	profit	NOUN
fbem-24785	91	9	points	point	NOUN
fbem-24785	91	10	in	in	ADP
fbem-24785	91	11	an	an	DET
fbem-24785	91	12	uncertain	uncertain	ADJ
fbem-24785	91	13	environment	environment	NOUN
fbem-24785	91	14	and	and	CCONJ
fbem-24785	91	15	use	use	VERB
fbem-24785	91	16	resource	resource	NOUN
fbem-24785	91	17	integration	integration	NOUN
fbem-24785	91	18	to	to	PART
fbem-24785	91	19	make	make	VERB
fbem-24785	91	20	profits	profit	NOUN
fbem-24785	91	21	(	(	PUNCT
fbem-24785	91	22	knight	knight	NOUN
fbem-24785	91	23	,	,	PUNCT
fbem-24785	91	24	1921	1921	NUM
fbem-24785	91	25	)	)	PUNCT
fbem-24785	92	1	[	[	X
fbem-24785	92	2	23	23	NUM
fbem-24785	92	3	]	]	PUNCT
fbem-24785	92	4	.	.	PUNCT
fbem-24785	93	1	therefore	therefore	ADV
fbem-24785	93	2	,	,	PUNCT
fbem-24785	93	3	enterprises	enterprise	NOUN
fbem-24785	93	4	are	be	AUX
fbem-24785	93	5	motivated	motivated	ADJ
fbem-24785	93	6	to	to	PART
fbem-24785	93	7	carry	carry	VERB
fbem-24785	93	8	out	out	ADP
fbem-24785	93	9	debt	debt	NOUN
fbem-24785	93	10	financing	financing	NOUN
fbem-24785	93	11	.	.	PUNCT
fbem-24785	94	1	on	on	ADP
fbem-24785	94	2	the	the	DET
fbem-24785	94	3	one	one	NUM
fbem-24785	94	4	hand	hand	NOUN
fbem-24785	94	5	,	,	PUNCT
fbem-24785	94	6	enterprises	enterprise	NOUN
fbem-24785	94	7	with	with	ADP
fbem-24785	94	8	financial	financial	ADJ
fbem-24785	94	9	support	support	NOUN
fbem-24785	94	10	can	can	AUX
fbem-24785	94	11	guarantee	guarantee	VERB
fbem-24785	94	12	their	their	PRON
fbem-24785	94	13	project	project	NOUN
fbem-24785	94	14	capital	capital	NOUN
fbem-24785	94	15	needs	need	NOUN
fbem-24785	94	16	and	and	CCONJ
fbem-24785	94	17	seize	seize	VERB
fbem-24785	94	18	new	new	ADJ
fbem-24785	94	19	opportunities	opportunity	NOUN
fbem-24785	94	20	in	in	ADP
fbem-24785	94	21	an	an	DET
fbem-24785	94	22	uncertain	uncertain	ADJ
fbem-24785	94	23	environment	environment	NOUN
fbem-24785	94	24	.	.	PUNCT
fbem-24785	95	1	on	on	ADP
fbem-24785	95	2	the	the	DET
fbem-24785	95	3	other	other	ADJ
fbem-24785	95	4	hand	hand	NOUN
fbem-24785	95	5	,	,	PUNCT
fbem-24785	95	6	enterprises	enterprise	NOUN
fbem-24785	95	7	get	get	VERB
fbem-24785	95	8	funds	fund	NOUN
fbem-24785	95	9	to	to	PART
fbem-24785	95	10	avoid	avoid	VERB
fbem-24785	95	11	the	the	DET
fbem-24785	95	12	risk	risk	NOUN
fbem-24785	95	13	of	of	ADP
fbem-24785	95	14	economic	economic	ADJ
fbem-24785	95	15	downturn	downturn	NOUN
fbem-24785	95	16	,	,	PUNCT
fbem-24785	95	17	alleviate	alleviate	VERB
fbem-24785	95	18	the	the	DET
fbem-24785	95	19	impact	impact	NOUN
fbem-24785	95	20	of	of	ADP
fbem-24785	95	21	economic	economic	ADJ
fbem-24785	95	22	policy	policy	NOUN
fbem-24785	95	23	uncertainty	uncertainty	NOUN
fbem-24785	95	24	on	on	ADP
fbem-24785	95	25	enterprises	enterprise	NOUN
fbem-24785	95	26	,	,	PUNCT
fbem-24785	95	27	and	and	CCONJ
fbem-24785	95	28	avoid	avoid	VERB
fbem-24785	95	29	the	the	DET
fbem-24785	95	30	financial	financial	ADJ
fbem-24785	95	31	difficulties	difficulty	NOUN
fbem-24785	95	32	of	of	ADP
fbem-24785	95	33	enterprises	enterprise	NOUN
fbem-24785	95	34	to	to	ADP
fbem-24785	95	35	a	a	DET
fbem-24785	95	36	certain	certain	ADJ
fbem-24785	95	37	extent	extent	NOUN
fbem-24785	95	38	.	.	PUNCT
fbem-24785	96	1	based	base	VERB
fbem-24785	96	2	on	on	ADP
fbem-24785	96	3	the	the	DET
fbem-24785	96	4	above	above	ADJ
fbem-24785	96	5	analysis	analysis	NOUN
fbem-24785	96	6	,	,	PUNCT
fbem-24785	96	7	the	the	DET
fbem-24785	96	8	second	second	ADJ
fbem-24785	96	9	hypothesis	hypothesis	NOUN
fbem-24785	96	10	of	of	ADP
fbem-24785	96	11	this	this	DET
fbem-24785	96	12	paper	paper	NOUN
fbem-24785	96	13	is	be	AUX
fbem-24785	96	14	put	put	VERB
fbem-24785	96	15	forward	forward	ADV
fbem-24785	96	16	:	:	PUNCT
fbem-24785	96	17	h2a	h2a	PROPN
fbem-24785	96	18	:	:	PUNCT
fbem-24785	96	19	bank	bank	NOUN
fbem-24785	96	20	loans	loan	NOUN
fbem-24785	96	21	play	play	VERB
fbem-24785	96	22	a	a	DET
fbem-24785	96	23	positive	positive	ADJ
fbem-24785	96	24	moderating	moderate	VERB
fbem-24785	96	25	role	role	NOUN
fbem-24785	96	26	between	between	ADP
fbem-24785	96	27	economic	economic	ADJ
fbem-24785	96	28	policy	policy	NOUN
fbem-24785	96	29	uncertainty	uncertainty	NOUN
fbem-24785	96	30	and	and	CCONJ
fbem-24785	96	31	corporate	corporate	ADJ
fbem-24785	96	32	financial	financial	ADJ
fbem-24785	96	33	vulnerability	vulnerability	NOUN
fbem-24785	96	34	,	,	PUNCT
fbem-24785	96	35	that	that	ADV
fbem-24785	96	36	is	is	ADV
fbem-24785	96	37	,	,	PUNCT
fbem-24785	96	38	bank	bank	NOUN
fbem-24785	96	39	loans	loan	NOUN
fbem-24785	96	40	alleviate	alleviate	VERB
fbem-24785	96	41	the	the	DET
fbem-24785	96	42	impact	impact	NOUN
fbem-24785	96	43	of	of	ADP
fbem-24785	96	44	economic	economic	ADJ
fbem-24785	96	45	policy	policy	NOUN
fbem-24785	96	46	uncertainty	uncertainty	NOUN
fbem-24785	96	47	on	on	ADP
fbem-24785	96	48	corporate	corporate	ADJ
fbem-24785	96	49	financial	financial	ADJ
fbem-24785	96	50	vulnerability	vulnerability	NOUN
fbem-24785	96	51	.	.	PUNCT
fbem-24785	97	1	2.2.2	2.2.2	X
fbem-24785	97	2	.	.	PUNCT
fbem-24785	97	3	economic	economic	ADJ
fbem-24785	97	4	policy	policy	NOUN
fbem-24785	97	5	uncertainty	uncertainty	NOUN
fbem-24785	97	6	,	,	PUNCT
fbem-24785	97	7	credit	credit	NOUN
fbem-24785	97	8	claims	claim	NOUN
fbem-24785	97	9	and	and	CCONJ
fbem-24785	97	10	corporate	corporate	ADJ
fbem-24785	97	11	financial	financial	ADJ
fbem-24785	97	12	vulnerability	vulnerability	NOUN
fbem-24785	97	13	from	from	ADP
fbem-24785	97	14	the	the	DET
fbem-24785	97	15	perspective	perspective	NOUN
fbem-24785	97	16	of	of	ADP
fbem-24785	97	17	the	the	DET
fbem-24785	97	18	governance	governance	NOUN
fbem-24785	97	19	effect	effect	NOUN
fbem-24785	97	20	of	of	ADP
fbem-24785	97	21	credit	credit	NOUN
fbem-24785	97	22	claims	claim	NOUN
fbem-24785	97	23	,	,	PUNCT
fbem-24785	97	24	under	under	ADP
fbem-24785	97	25	the	the	DET
fbem-24785	97	26	effective	effective	ADJ
fbem-24785	97	27	market	market	NOUN
fbem-24785	97	28	mechanism	mechanism	NOUN
fbem-24785	97	29	,	,	PUNCT
fbem-24785	97	30	after	after	ADP
fbem-24785	97	31	longterm	longterm	VERB
fbem-24785	97	32	economic	economic	ADJ
fbem-24785	97	33	cooperation	cooperation	NOUN
fbem-24785	97	34	,	,	PUNCT
fbem-24785	97	35	the	the	DET
fbem-24785	97	36	market	market	NOUN
fbem-24785	97	37	participants	participant	NOUN
fbem-24785	97	38	enhance	enhance	VERB
fbem-24785	97	39	mutual	mutual	ADJ
fbem-24785	97	40	understanding	understanding	NOUN
fbem-24785	97	41	,	,	PUNCT
fbem-24785	97	42	effectively	effectively	ADV
fbem-24785	97	43	reduce	reduce	VERB
fbem-24785	97	44	information	information	NOUN
fbem-24785	97	45	asymmetry	asymmetry	NOUN
fbem-24785	97	46	,	,	PUNCT
fbem-24785	97	47	generate	generate	VERB
fbem-24785	97	48	credit	credit	NOUN
fbem-24785	97	49	claims	claim	NOUN
fbem-24785	97	50	,	,	PUNCT
fbem-24785	97	51	and	and	CCONJ
fbem-24785	97	52	encourage	encourage	VERB
fbem-24785	97	53	enterprises	enterprise	NOUN
fbem-24785	97	54	to	to	PART
fbem-24785	97	55	improve	improve	VERB
fbem-24785	97	56	management	management	NOUN
fbem-24785	97	57	efficiency	efficiency	NOUN
fbem-24785	97	58	,	,	PUNCT
fbem-24785	97	59	thereby	thereby	ADV
fbem-24785	97	60	reducing	reduce	VERB
fbem-24785	97	61	the	the	DET
fbem-24785	97	62	agency	agency	NOUN
fbem-24785	97	63	problems	problem	NOUN
fbem-24785	97	64	of	of	ADP
fbem-24785	97	65	suppliers	supplier	NOUN
fbem-24785	97	66	and	and	CCONJ
fbem-24785	97	67	enterprises	enterprise	NOUN
fbem-24785	97	68	,	,	PUNCT
fbem-24785	97	69	and	and	CCONJ
fbem-24785	97	70	better	well	ADV
fbem-24785	97	71	play	play	VERB
fbem-24785	97	72	the	the	DET
fbem-24785	97	73	role	role	NOUN
fbem-24785	97	74	of	of	ADP
fbem-24785	97	75	supervision	supervision	NOUN
fbem-24785	97	76	of	of	ADP
fbem-24785	97	77	enterprises	enterprise	NOUN
fbem-24785	97	78	(	(	PUNCT
fbem-24785	97	79	wenfeng	wenfeng	PROPN
fbem-24785	97	80	wu	wu	PROPN
fbem-24785	97	81	et	et	PROPN
fbem-24785	97	82	al	al	PROPN
fbem-24785	97	83	.	.	PROPN
fbem-24785	97	84	,	,	PUNCT
fbem-24785	97	85	2012	2012	NUM
fbem-24785	97	86	;	;	PUNCT
fbem-24785	97	87	wang	wang	PROPN
fbem-24785	97	88	yanchao	yanchao	PROPN
fbem-24785	97	89	et	et	PROPN
fbem-24785	97	90	al	al	PROPN
fbem-24785	97	91	.	.	PROPN
fbem-24785	97	92	,	,	PUNCT
fbem-24785	97	93	2008	2008	NUM
fbem-24785	97	94	)	)	PUNCT
fbem-24785	98	1	[	[	X
fbem-24785	98	2	17	17	NUM
fbem-24785	98	3	]	]	X
fbem-24785	99	1	[	[	X
fbem-24785	99	2	24	24	NUM
fbem-24785	99	3	]	]	PUNCT
fbem-24785	99	4	.	.	PUNCT
fbem-24785	100	1	as	as	ADP
fbem-24785	100	2	one	one	NUM
fbem-24785	100	3	of	of	ADP
fbem-24785	100	4	the	the	DET
fbem-24785	100	5	financing	financing	NOUN
fbem-24785	100	6	channels	channel	NOUN
fbem-24785	100	7	,	,	PUNCT
fbem-24785	100	8	commercial	commercial	ADJ
fbem-24785	100	9	credit	credit	NOUN
fbem-24785	100	10	is	be	AUX
fbem-24785	100	11	also	also	ADV
fbem-24785	100	12	affected	affect	VERB
fbem-24785	100	13	by	by	ADP
fbem-24785	100	14	the	the	DET
fbem-24785	100	15	external	external	ADJ
fbem-24785	100	16	environment	environment	NOUN
fbem-24785	100	17	.	.	PUNCT
fbem-24785	101	1	for	for	ADP
fbem-24785	101	2	the	the	DET
fbem-24785	101	3	suppliers	supplier	NOUN
fbem-24785	101	4	of	of	ADP
fbem-24785	101	5	commercial	commercial	ADJ
fbem-24785	101	6	credit	credit	NOUN
fbem-24785	101	7	,	,	PUNCT
fbem-24785	101	8	in	in	ADP
fbem-24785	101	9	the	the	DET
fbem-24785	101	10	face	face	NOUN
fbem-24785	101	11	of	of	ADP
fbem-24785	101	12	higher	high	ADJ
fbem-24785	101	13	economic	economic	ADJ
fbem-24785	101	14	policy	policy	NOUN
fbem-24785	101	15	uncertainty	uncertainty	NOUN
fbem-24785	101	16	,	,	PUNCT
fbem-24785	101	17	the	the	DET
fbem-24785	101	18	appropriate	appropriate	ADJ
fbem-24785	101	19	commercial	commercial	ADJ
fbem-24785	101	20	credit	credit	NOUN
fbem-24785	101	21	financing	financing	NOUN
fbem-24785	101	22	of	of	ADP
fbem-24785	101	23	enterprises	enterprise	NOUN
fbem-24785	101	24	is	be	AUX
fbem-24785	101	25	the	the	DET
fbem-24785	101	26	supplier	supplier	NOUN
fbem-24785	101	27	's	's	PART
fbem-24785	101	28	supply	supply	NOUN
fbem-24785	101	29	decision	decision	NOUN
fbem-24785	101	30	based	base	VERB
fbem-24785	101	31	on	on	ADP
fbem-24785	101	32	information	information	NOUN
fbem-24785	101	33	advantage	advantage	NOUN
fbem-24785	101	34	.	.	PUNCT
fbem-24785	102	1	it	it	PRON
fbem-24785	102	2	is	be	AUX
fbem-24785	102	3	the	the	DET
fbem-24785	102	4	evaluation	evaluation	NOUN
fbem-24785	102	5	and	and	CCONJ
fbem-24785	102	6	endorsement	endorsement	NOUN
fbem-24785	102	7	of	of	ADP
fbem-24785	102	8	the	the	DET
fbem-24785	102	9	financial	financial	ADJ
fbem-24785	102	10	status	status	NOUN
fbem-24785	102	11	and	and	CCONJ
fbem-24785	102	12	operating	operating	NOUN
fbem-24785	102	13	results	result	NOUN
fbem-24785	102	14	of	of	ADP
fbem-24785	102	15	the	the	DET
fbem-24785	102	16	enterprise	enterprise	NOUN
fbem-24785	102	17	,	,	PUNCT
fbem-24785	102	18	which	which	PRON
fbem-24785	102	19	can	can	AUX
fbem-24785	102	20	transmit	transmit	VERB
fbem-24785	102	21	more	more	ADV
fbem-24785	102	22	obvious	obvious	ADJ
fbem-24785	102	23	positive	positive	ADJ
fbem-24785	102	24	signals	signal	NOUN
fbem-24785	102	25	to	to	ADP
fbem-24785	102	26	the	the	DET
fbem-24785	102	27	outside	outside	ADJ
fbem-24785	102	28	world	world	NOUN
fbem-24785	102	29	,	,	PUNCT
fbem-24785	102	30	enhance	enhance	VERB
fbem-24785	102	31	investors	investor	NOUN
fbem-24785	102	32	'	'	PART
fbem-24785	102	33	confidence	confidence	NOUN
fbem-24785	102	34	in	in	ADP
fbem-24785	102	35	the	the	DET
fbem-24785	102	36	operation	operation	NOUN
fbem-24785	102	37	of	of	ADP
fbem-24785	102	38	the	the	DET
fbem-24785	102	39	enterprise	enterprise	NOUN
fbem-24785	102	40	,	,	PUNCT
fbem-24785	102	41	and	and	CCONJ
fbem-24785	102	42	increase	increase	VERB
fbem-24785	102	43	the	the	DET
fbem-24785	102	44	market	market	NOUN
fbem-24785	102	45	value	value	NOUN
fbem-24785	102	46	(	(	PUNCT
fbem-24785	102	47	mariassunta	mariassunta	NOUN
fbem-24785	102	48	giannetti	giannetti	NOUN
fbem-24785	102	49	et	et	PROPN
fbem-24785	102	50	al	al	PROPN
fbem-24785	102	51	.	.	PROPN
fbem-24785	102	52	,	,	PUNCT
fbem-24785	102	53	2011	2011	NUM
fbem-24785	102	54	;	;	PUNCT
fbem-24785	102	55	lu	lu	PROPN
fbem-24785	102	56	zhengfei	zhengfei	NOUN
fbem-24785	102	57	et	et	PROPN
fbem-24785	102	58	al	al	PROPN
fbem-24785	102	59	.	.	PROPN
fbem-24785	102	60	,	,	PUNCT
fbem-24785	102	61	2011	2011	NUM
fbem-24785	102	62	)	)	PUNCT
fbem-24785	103	1	[	[	X
fbem-24785	103	2	25	25	NUM
fbem-24785	103	3	,	,	PUNCT
fbem-24785	103	4	26	26	NUM
fbem-24785	103	5	]	]	PUNCT
fbem-24785	103	6	;	;	PUNCT
fbem-24785	103	7	for	for	ADP
fbem-24785	103	8	the	the	DET
fbem-24785	103	9	demand	demand	NOUN
fbem-24785	103	10	side	side	NOUN
fbem-24785	103	11	of	of	ADP
fbem-24785	103	12	trade	trade	NOUN
fbem-24785	103	13	credit	credit	NOUN
fbem-24785	103	14	,	,	PUNCT
fbem-24785	103	15	when	when	SCONJ
fbem-24785	103	16	the	the	DET
fbem-24785	103	17	uncertainty	uncertainty	NOUN
fbem-24785	103	18	of	of	ADP
fbem-24785	103	19	economic	economic	ADJ
fbem-24785	103	20	policy	policy	NOUN
fbem-24785	103	21	is	be	AUX
fbem-24785	103	22	high	high	ADJ
fbem-24785	103	23	,	,	PUNCT
fbem-24785	103	24	trade	trade	NOUN
fbem-24785	103	25	credit	credit	NOUN
fbem-24785	103	26	financing	financing	NOUN
fbem-24785	103	27	can	can	AUX
fbem-24785	103	28	alleviate	alleviate	VERB
fbem-24785	103	29	the	the	DET
fbem-24785	103	30	information	information	NOUN
fbem-24785	103	31	asymmetry	asymmetry	NOUN
fbem-24785	103	32	and	and	CCONJ
fbem-24785	103	33	agency	agency	NOUN
fbem-24785	103	34	problems	problem	NOUN
fbem-24785	103	35	caused	cause	VERB
fbem-24785	103	36	by	by	ADP
fbem-24785	103	37	insufficient	insufficient	ADJ
fbem-24785	103	38	foreign	foreign	ADJ
fbem-24785	103	39	financial	financial	ADJ
fbem-24785	103	40	investment	investment	NOUN
fbem-24785	103	41	and	and	CCONJ
fbem-24785	103	42	uncertain	uncertain	ADJ
fbem-24785	103	43	future	future	ADJ
fbem-24785	103	44	operation	operation	NOUN
fbem-24785	103	45	of	of	ADP
fbem-24785	103	46	enterprises	enterprise	NOUN
fbem-24785	103	47	,	,	PUNCT
fbem-24785	103	48	significantly	significantly	ADV
fbem-24785	103	49	improve	improve	VERB
fbem-24785	103	50	the	the	DET
fbem-24785	103	51	capital	capital	NOUN
fbem-24785	103	52	efficiency	efficiency	NOUN
fbem-24785	103	53	of	of	ADP
fbem-24785	103	54	enterprises	enterprise	NOUN
fbem-24785	103	55	,	,	PUNCT
fbem-24785	103	56	better	well	ADV
fbem-24785	103	57	play	play	VERB
fbem-24785	103	58	the	the	DET
fbem-24785	103	59	debt	debt	NOUN
fbem-24785	103	60	governance	governance	NOUN
fbem-24785	103	61	effect	effect	NOUN
fbem-24785	103	62	and	and	CCONJ
fbem-24785	103	63	cost	cost	NOUN
fbem-24785	103	64	reduction	reduction	NOUN
fbem-24785	103	65	effect	effect	NOUN
fbem-24785	103	66	,	,	PUNCT
fbem-24785	103	67	and	and	CCONJ
fbem-24785	103	68	offset	offset	VERB
fbem-24785	103	69	the	the	DET
fbem-24785	103	70	decline	decline	NOUN
fbem-24785	103	71	of	of	ADP
fbem-24785	103	72	profit	profit	NOUN
fbem-24785	103	73	space	space	NOUN
fbem-24785	103	74	caused	cause	VERB
fbem-24785	103	75	by	by	ADP
fbem-24785	103	76	poor	poor	ADJ
fbem-24785	103	77	operation	operation	NOUN
fbem-24785	103	78	(	(	PUNCT
fbem-24785	103	79	zhang	zhang	PROPN
fbem-24785	103	80	yuanyuan	yuanyuan	PROPN
fbem-24785	103	81	et	et	PROPN
fbem-24785	103	82	al	al	PROPN
fbem-24785	103	83	.	.	PROPN
fbem-24785	103	84	,	,	PUNCT
fbem-24785	103	85	2020	2020	NUM
fbem-24785	103	86	)	)	PUNCT
fbem-24785	104	1	[	[	X
fbem-24785	104	2	27	27	NUM
fbem-24785	104	3	]	]	PUNCT
fbem-24785	104	4	,	,	PUNCT
fbem-24785	104	5	so	so	SCONJ
fbem-24785	104	6	that	that	SCONJ
fbem-24785	104	7	enterprises	enterprise	NOUN
fbem-24785	104	8	can	can	AUX
fbem-24785	104	9	make	make	VERB
fbem-24785	104	10	full	full	ADJ
fbem-24785	104	11	use	use	NOUN
fbem-24785	104	12	of	of	ADP
fbem-24785	104	13	capital	capital	NOUN
fbem-24785	104	14	operation	operation	NOUN
fbem-24785	104	15	and	and	CCONJ
fbem-24785	104	16	reduce	reduce	VERB
fbem-24785	104	17	the	the	DET
fbem-24785	104	18	potential	potential	ADJ
fbem-24785	104	19	bankruptcy	bankruptcy	NOUN
fbem-24785	104	20	risk	risk	NOUN
fbem-24785	104	21	of	of	ADP
fbem-24785	104	22	enterprises	enterprise	NOUN
fbem-24785	104	23	.	.	PUNCT
fbem-24785	105	1	based	base	VERB
fbem-24785	105	2	on	on	ADP
fbem-24785	105	3	the	the	DET
fbem-24785	105	4	above	above	ADJ
fbem-24785	105	5	analysis	analysis	NOUN
fbem-24785	105	6	,	,	PUNCT
fbem-24785	105	7	the	the	DET
fbem-24785	105	8	third	third	ADJ
fbem-24785	105	9	hypothesis	hypothesis	NOUN
fbem-24785	105	10	of	of	ADP
fbem-24785	105	11	this	this	DET
fbem-24785	105	12	paper	paper	NOUN
fbem-24785	105	13	is	be	AUX
fbem-24785	105	14	put	put	VERB
fbem-24785	105	15	forward	forward	ADV
fbem-24785	105	16	:	:	PUNCT
fbem-24785	105	17	h2b	h2b	PROPN
fbem-24785	105	18	:	:	PUNCT
fbem-24785	105	19	credit	credit	NOUN
fbem-24785	105	20	claims	claim	NOUN
fbem-24785	105	21	play	play	VERB
fbem-24785	105	22	a	a	DET
fbem-24785	105	23	positive	positive	ADJ
fbem-24785	105	24	regulatory	regulatory	ADJ
fbem-24785	105	25	role	role	NOUN
fbem-24785	105	26	between	between	ADP
fbem-24785	105	27	economic	economic	ADJ
fbem-24785	105	28	policy	policy	NOUN
fbem-24785	105	29	uncertainty	uncertainty	NOUN
fbem-24785	105	30	and	and	CCONJ
fbem-24785	105	31	corporate	corporate	ADJ
fbem-24785	105	32	financial	financial	ADJ
fbem-24785	105	33	vulnerability	vulnerability	NOUN
fbem-24785	105	34	,	,	PUNCT
fbem-24785	105	35	that	that	ADV
fbem-24785	105	36	is	is	ADV
fbem-24785	105	37	,	,	PUNCT
fbem-24785	105	38	credit	credit	NOUN
fbem-24785	105	39	claims	claim	NOUN
fbem-24785	105	40	ease	ease	VERB
fbem-24785	105	41	the	the	DET
fbem-24785	105	42	impact	impact	NOUN
fbem-24785	105	43	of	of	ADP
fbem-24785	105	44	economic	economic	ADJ
fbem-24785	105	45	policy	policy	NOUN
fbem-24785	105	46	uncertainty	uncertainty	NOUN
fbem-24785	105	47	on	on	ADP
fbem-24785	105	48	corporate	corporate	ADJ
fbem-24785	105	49	financial	financial	ADJ
fbem-24785	105	50	vulnerability	vulnerability	NOUN
fbem-24785	105	51	.	.	PUNCT
fbem-24785	106	1	2.2.3	2.2.3	X
fbem-24785	106	2	.	.	PUNCT
fbem-24785	106	3	economic	economic	ADJ
fbem-24785	106	4	policy	policy	NOUN
fbem-24785	106	5	uncertainty	uncertainty	NOUN
fbem-24785	106	6	,	,	PUNCT
fbem-24785	106	7	bond	bond	NOUN
fbem-24785	106	8	claims	claim	NOUN
fbem-24785	106	9	and	and	CCONJ
fbem-24785	106	10	corporate	corporate	ADJ
fbem-24785	106	11	financial	financial	ADJ
fbem-24785	106	12	vulnerability	vulnerability	NOUN
fbem-24785	106	13	as	as	ADP
fbem-24785	106	14	an	an	DET
fbem-24785	106	15	important	important	ADJ
fbem-24785	106	16	part	part	NOUN
fbem-24785	106	17	of	of	ADP
fbem-24785	106	18	china	china	PROPN
fbem-24785	106	19	's	's	PART
fbem-24785	106	20	capital	capital	NOUN
fbem-24785	106	21	market	market	NOUN
fbem-24785	106	22	,	,	PUNCT
fbem-24785	106	23	the	the	DET
fbem-24785	106	24	bond	bond	NOUN
fbem-24785	106	25	market	market	NOUN
fbem-24785	106	26	has	have	VERB
fbem-24785	106	27	a	a	DET
fbem-24785	106	28	certain	certain	ADJ
fbem-24785	106	29	sensitivity	sensitivity	NOUN
fbem-24785	106	30	to	to	ADP
fbem-24785	106	31	the	the	DET
fbem-24785	106	32	external	external	ADJ
fbem-24785	106	33	economic	economic	ADJ
fbem-24785	106	34	environment	environment	NOUN
fbem-24785	106	35	.	.	PUNCT
fbem-24785	107	1	at	at	ADP
fbem-24785	107	2	present	present	ADJ
fbem-24785	107	3	,	,	PUNCT
fbem-24785	107	4	the	the	DET
fbem-24785	107	5	main	main	ADJ
fbem-24785	107	6	form	form	NOUN
fbem-24785	107	7	of	of	ADP
fbem-24785	107	8	bond	bond	NOUN
fbem-24785	107	9	financing	financing	NOUN
fbem-24785	107	10	is	be	AUX
fbem-24785	107	11	corporate	corporate	ADJ
fbem-24785	107	12	debt	debt	NOUN
fbem-24785	107	13	,	,	PUNCT
fbem-24785	107	14	which	which	PRON
fbem-24785	107	15	is	be	AUX
fbem-24785	107	16	a	a	DET
fbem-24785	107	17	main	main	ADJ
fbem-24785	107	18	way	way	NOUN
fbem-24785	107	19	for	for	SCONJ
fbem-24785	107	20	enterprises	enterprise	NOUN
fbem-24785	107	21	to	to	PART
fbem-24785	107	22	obtain	obtain	VERB
fbem-24785	107	23	financing	financing	NOUN
fbem-24785	107	24	.	.	PUNCT
fbem-24785	108	1	the	the	DET
fbem-24785	108	2	interest	interest	NOUN
fbem-24785	108	3	rate	rate	NOUN
fbem-24785	108	4	of	of	ADP
fbem-24785	108	5	corporate	corporate	ADJ
fbem-24785	108	6	bond	bond	NOUN
fbem-24785	108	7	issuance	issuance	NOUN
fbem-24785	108	8	will	will	AUX
fbem-24785	108	9	fluctuate	fluctuate	VERB
fbem-24785	108	10	with	with	ADP
fbem-24785	108	11	the	the	DET
fbem-24785	108	12	degree	degree	NOUN
fbem-24785	108	13	of	of	ADP
fbem-24785	108	14	economic	economic	ADJ
fbem-24785	108	15	policy	policy	NOUN
fbem-24785	108	16	uncertainty	uncertainty	NOUN
fbem-24785	108	17	,	,	PUNCT
fbem-24785	108	18	and	and	CCONJ
fbem-24785	108	19	the	the	DET
fbem-24785	108	20	sensitivity	sensitivity	NOUN
fbem-24785	108	21	is	be	AUX
fbem-24785	108	22	high	high	ADJ
fbem-24785	108	23	.	.	PUNCT
fbem-24785	109	1	compared	compare	VERB
fbem-24785	109	2	with	with	ADP
fbem-24785	109	3	the	the	DET
fbem-24785	109	4	interest	interest	NOUN
fbem-24785	109	5	rate	rate	NOUN
fbem-24785	109	6	of	of	ADP
fbem-24785	109	7	bank	bank	NOUN
fbem-24785	109	8	borrowing	borrowing	NOUN
fbem-24785	109	9	in	in	ADP
fbem-24785	109	10	the	the	DET
fbem-24785	109	11	same	same	ADJ
fbem-24785	109	12	period	period	NOUN
fbem-24785	109	13	,	,	PUNCT
fbem-24785	109	14	the	the	DET
fbem-24785	109	15	increase	increase	NOUN
fbem-24785	109	16	of	of	ADP
fbem-24785	109	17	economic	economic	ADJ
fbem-24785	109	18	policy	policy	NOUN
fbem-24785	109	19	uncertainty	uncertainty	NOUN
fbem-24785	109	20	will	will	AUX
fbem-24785	109	21	increase	increase	VERB
fbem-24785	109	22	the	the	DET
fbem-24785	109	23	cost	cost	NOUN
fbem-24785	109	24	of	of	ADP
fbem-24785	109	25	corporate	corporate	ADJ
fbem-24785	109	26	bond	bond	NOUN
fbem-24785	109	27	financing	financing	NOUN
fbem-24785	109	28	,	,	PUNCT
fbem-24785	109	29	and	and	CCONJ
fbem-24785	109	30	higher	high	ADJ
fbem-24785	109	31	interest	interest	NOUN
fbem-24785	109	32	repayment	repayment	NOUN
fbem-24785	109	33	will	will	AUX
fbem-24785	109	34	be	be	AUX
fbem-24785	109	35	needed	need	VERB
fbem-24785	109	36	to	to	PART
fbem-24785	109	37	increase	increase	VERB
fbem-24785	109	38	the	the	DET
fbem-24785	109	39	financial	financial	ADJ
fbem-24785	109	40	pressure	pressure	NOUN
fbem-24785	109	41	of	of	ADP
fbem-24785	109	42	enterprises	enterprise	NOUN
fbem-24785	109	43	,	,	PUNCT
fbem-24785	109	44	which	which	PRON
fbem-24785	109	45	will	will	AUX
fbem-24785	109	46	lead	lead	VERB
fbem-24785	109	47	to	to	ADP
fbem-24785	109	48	the	the	DET
fbem-24785	109	49	reduction	reduction	NOUN
fbem-24785	109	50	of	of	ADP
fbem-24785	109	51	management	management	NOUN
fbem-24785	109	52	's	's	PART
fbem-24785	109	53	willingness	willingness	NOUN
fbem-24785	109	54	to	to	PART
fbem-24785	109	55	finance	finance	VERB
fbem-24785	109	56	.	.	PUNCT
fbem-24785	110	1	moreover	moreover	ADV
fbem-24785	110	2	,	,	PUNCT
fbem-24785	110	3	the	the	DET
fbem-24785	110	4	increase	increase	NOUN
fbem-24785	110	5	of	of	ADP
fbem-24785	110	6	economic	economic	ADJ
fbem-24785	110	7	policy	policy	NOUN
fbem-24785	110	8	uncertainty	uncertainty	NOUN
fbem-24785	110	9	will	will	AUX
fbem-24785	110	10	lead	lead	VERB
fbem-24785	110	11	to	to	ADP
fbem-24785	110	12	the	the	DET
fbem-24785	110	13	increase	increase	NOUN
fbem-24785	110	14	of	of	ADP
fbem-24785	110	15	future	future	ADJ
fbem-24785	110	16	business	business	NOUN
fbem-24785	110	17	risks	risk	NOUN
fbem-24785	110	18	and	and	CCONJ
fbem-24785	110	19	the	the	DET
fbem-24785	110	20	aggravation	aggravation	NOUN
fbem-24785	110	21	of	of	ADP
fbem-24785	110	22	information	information	NOUN
fbem-24785	110	23	asymmetry	asymmetry	NOUN
fbem-24785	110	24	,	,	PUNCT
fbem-24785	110	25	which	which	PRON
fbem-24785	110	26	will	will	AUX
fbem-24785	110	27	have	have	VERB
fbem-24785	110	28	a	a	DET
fbem-24785	110	29	negative	negative	ADJ
fbem-24785	110	30	impact	impact	NOUN
fbem-24785	110	31	on	on	ADP
fbem-24785	110	32	bond	bond	NOUN
fbem-24785	110	33	credit	credit	NOUN
fbem-24785	110	34	rating	rating	NOUN
fbem-24785	110	35	.	.	PUNCT
fbem-24785	111	1	in	in	ADP
fbem-24785	111	2	view	view	NOUN
fbem-24785	111	3	of	of	ADP
fbem-24785	111	4	the	the	DET
fbem-24785	111	5	investment	investment	NOUN
fbem-24785	111	6	risk	risk	NOUN
fbem-24785	111	7	,	,	PUNCT
fbem-24785	111	8	bond	bond	NOUN
fbem-24785	111	9	investors	investor	NOUN
fbem-24785	111	10	will	will	AUX
fbem-24785	111	11	reduce	reduce	VERB
fbem-24785	111	12	the	the	DET
fbem-24785	111	13	willingness	willingness	NOUN
fbem-24785	111	14	of	of	ADP
fbem-24785	111	15	bond	bond	NOUN
fbem-24785	111	16	investment	investment	NOUN
fbem-24785	111	17	(	(	PUNCT
fbem-24785	111	18	gao	gao	PROPN
fbem-24785	111	19	qun	qun	PROPN
fbem-24785	111	20	et	et	PROPN
fbem-24785	111	21	al	al	PROPN
fbem-24785	111	22	.	.	PROPN
fbem-24785	111	23	,	,	PUNCT
fbem-24785	111	24	2022	2022	NUM
fbem-24785	111	25	)	)	PUNCT
fbem-24785	112	1	[	[	X
fbem-24785	112	2	28	28	NUM
fbem-24785	112	3	]	]	PUNCT
fbem-24785	112	4	.	.	PUNCT
fbem-24785	113	1	other	other	ADJ
fbem-24785	113	2	scholars	scholar	NOUN
fbem-24785	113	3	believe	believe	VERB
fbem-24785	113	4	that	that	SCONJ
fbem-24785	113	5	strict	strict	ADJ
fbem-24785	113	6	information	information	NOUN
fbem-24785	113	7	disclosure	disclosure	NOUN
fbem-24785	113	8	requirements	requirement	NOUN
fbem-24785	113	9	are	be	AUX
fbem-24785	113	10	needed	need	VERB
fbem-24785	113	11	in	in	ADP
fbem-24785	113	12	the	the	DET
fbem-24785	113	13	process	process	NOUN
fbem-24785	113	14	of	of	ADP
fbem-24785	113	15	corporate	corporate	ADJ
fbem-24785	113	16	bond	bond	NOUN
fbem-24785	113	17	financing	financing	NOUN
fbem-24785	113	18	.	.	PUNCT
fbem-24785	114	1	by	by	ADP
fbem-24785	114	2	forcing	force	VERB
fbem-24785	114	3	the	the	DET
fbem-24785	114	4	disclosure	disclosure	NOUN
fbem-24785	114	5	of	of	ADP
fbem-24785	114	6	more	more	ADV
fbem-24785	114	7	perfect	perfect	ADJ
fbem-24785	114	8	information	information	NOUN
fbem-24785	114	9	within	within	ADP
fbem-24785	114	10	the	the	DET
fbem-24785	114	11	enterprise	enterprise	NOUN
fbem-24785	114	12	,	,	PUNCT
fbem-24785	114	13	it	it	PRON
fbem-24785	114	14	can	can	AUX
fbem-24785	114	15	effectively	effectively	ADV
fbem-24785	114	16	reduce	reduce	VERB
fbem-24785	114	17	the	the	DET
fbem-24785	114	18	information	information	NOUN
fbem-24785	114	19	asymmetry	asymmetry	NOUN
fbem-24785	114	20	of	of	ADP
fbem-24785	114	21	investors	investor	NOUN
fbem-24785	114	22	and	and	CCONJ
fbem-24785	114	23	give	give	VERB
fbem-24785	114	24	full	full	ADJ
fbem-24785	114	25	play	play	NOUN
fbem-24785	114	26	to	to	ADP
fbem-24785	114	27	the	the	DET
fbem-24785	114	28	role	role	NOUN
fbem-24785	114	29	of	of	ADP
fbem-24785	114	30	corporate	corporate	ADJ
fbem-24785	114	31	governance	governance	NOUN
fbem-24785	114	32	(	(	PUNCT
fbem-24785	114	33	cutillas	cutilla	NOUN
fbem-24785	114	34	gomariz	gomariz	PROPN
fbem-24785	114	35	et	et	PROPN
fbem-24785	114	36	al	al	PROPN
fbem-24785	114	37	.	.	PROPN
fbem-24785	114	38	,	,	PUNCT
fbem-24785	114	39	2014	2014	NUM
fbem-24785	114	40	)	)	PUNCT
fbem-24785	115	1	[	[	X
fbem-24785	115	2	29	29	NUM
fbem-24785	115	3	]	]	PUNCT
fbem-24785	115	4	.	.	PUNCT
fbem-24785	116	1	however	however	ADV
fbem-24785	116	2	,	,	PUNCT
fbem-24785	116	3	due	due	ADP
fbem-24785	116	4	to	to	ADP
fbem-24785	116	5	the	the	DET
fbem-24785	116	6	fact	fact	NOUN
fbem-24785	116	7	that	that	SCONJ
fbem-24785	116	8	the	the	DET
fbem-24785	116	9	bond	bond	NOUN
fbem-24785	116	10	market	market	NOUN
fbem-24785	116	11	in	in	ADP
fbem-24785	116	12	china	china	PROPN
fbem-24785	116	13	's	's	PART
fbem-24785	116	14	capital	capital	NOUN
fbem-24785	116	15	market	market	NOUN
fbem-24785	116	16	is	be	AUX
fbem-24785	116	17	not	not	PART
fbem-24785	116	18	developed	develop	VERB
fbem-24785	116	19	enough	enough	ADV
fbem-24785	116	20	,	,	PUNCT
fbem-24785	116	21	listed	list	VERB
fbem-24785	116	22	companies	company	NOUN
fbem-24785	116	23	have	have	VERB
fbem-24785	116	24	limited	limit	VERB
fbem-24785	116	25	funds	fund	NOUN
fbem-24785	116	26	through	through	ADP
fbem-24785	116	27	debt	debt	NOUN
fbem-24785	116	28	financing	financing	NOUN
fbem-24785	116	29	and	and	CCONJ
fbem-24785	116	30	can	can	AUX
fbem-24785	116	31	not	not	PART
fbem-24785	116	32	get	get	VERB
fbem-24785	116	33	more	more	ADJ
fbem-24785	116	34	financial	financial	ADJ
fbem-24785	116	35	support	support	NOUN
fbem-24785	116	36	.	.	PUNCT
fbem-24785	117	1	therefore	therefore	ADV
fbem-24785	117	2	,	,	PUNCT
fbem-24785	117	3	the	the	DET
fbem-24785	117	4	direct	direct	ADJ
fbem-24785	117	5	financing	financing	NOUN
fbem-24785	117	6	method	method	NOUN
fbem-24785	117	7	of	of	ADP
fbem-24785	117	8	bond	bond	NOUN
fbem-24785	117	9	financing	financing	NOUN
fbem-24785	117	10	has	have	AUX
fbem-24785	117	11	not	not	PART
fbem-24785	117	12	been	be	AUX
fbem-24785	117	13	able	able	ADJ
fbem-24785	117	14	to	to	PART
fbem-24785	117	15	play	play	VERB
fbem-24785	117	16	an	an	DET
fbem-24785	117	17	effective	effective	ADJ
fbem-24785	117	18	role	role	NOUN
fbem-24785	117	19	in	in	ADP
fbem-24785	117	20	regulating	regulate	VERB
fbem-24785	117	21	economic	economic	ADJ
fbem-24785	117	22	policy	policy	NOUN
fbem-24785	117	23	uncertainty	uncertainty	NOUN
fbem-24785	117	24	and	and	CCONJ
fbem-24785	117	25	corporate	corporate	ADJ
fbem-24785	117	26	financial	financial	ADJ
fbem-24785	117	27	vulnerability	vulnerability	NOUN
fbem-24785	117	28	(	(	PUNCT
fbem-24785	117	29	chen	chen	PROPN
fbem-24785	117	30	mingli	mingli	PROPN
fbem-24785	117	31	et	et	PROPN
fbem-24785	117	32	al	al	PROPN
fbem-24785	117	33	.	.	PROPN
fbem-24785	117	34	,	,	PUNCT
fbem-24785	117	35	2018	2018	NUM
fbem-24785	117	36	)	)	PUNCT
fbem-24785	118	1	[	[	X
fbem-24785	118	2	19	19	NUM
fbem-24785	118	3	]	]	PUNCT
fbem-24785	118	4	.	.	PUNCT
fbem-24785	119	1	based	base	VERB
fbem-24785	119	2	on	on	ADP
fbem-24785	119	3	the	the	DET
fbem-24785	119	4	above	above	ADJ
fbem-24785	119	5	analysis	analysis	NOUN
fbem-24785	119	6	,	,	PUNCT
fbem-24785	119	7	the	the	DET
fbem-24785	119	8	fourth	fourth	ADJ
fbem-24785	119	9	hypothesis	hypothesis	NOUN
fbem-24785	119	10	of	of	ADP
fbem-24785	119	11	this	this	DET
fbem-24785	119	12	paper	paper	NOUN
fbem-24785	119	13	is	be	AUX
fbem-24785	119	14	put	put	VERB
fbem-24785	119	15	forward	forward	ADV
fbem-24785	119	16	:	:	PUNCT
fbem-24785	119	17	h2c	h2c	PROPN
fbem-24785	119	18	:	:	PUNCT
fbem-24785	119	19	the	the	DET
fbem-24785	119	20	moderating	moderate	VERB
fbem-24785	119	21	effect	effect	NOUN
fbem-24785	119	22	of	of	ADP
fbem-24785	119	23	bond	bond	NOUN
fbem-24785	119	24	claims	claim	NOUN
fbem-24785	119	25	on	on	ADP
fbem-24785	119	26	economic	economic	ADJ
fbem-24785	119	27	policy	policy	NOUN
fbem-24785	119	28	uncertainty	uncertainty	NOUN
fbem-24785	119	29	and	and	CCONJ
fbem-24785	119	30	corporate	corporate	ADJ
fbem-24785	119	31	financial	financial	ADJ
fbem-24785	119	32	vulnerability	vulnerability	NOUN
fbem-24785	119	33	is	be	AUX
fbem-24785	119	34	not	not	PART
fbem-24785	119	35	obvious	obvious	ADJ
fbem-24785	119	36	.	.	PUNCT
fbem-24785	120	1	3	3	X
fbem-24785	120	2	.	.	X
fbem-24785	120	3	research	research	NOUN
fbem-24785	120	4	design	design	PROPN
fbem-24785	120	5	3.1	3.1	NUM
fbem-24785	120	6	.	.	PUNCT
fbem-24785	120	7	sample	sample	NOUN
fbem-24785	120	8	and	and	CCONJ
fbem-24785	120	9	data	datum	NOUN
fbem-24785	120	10	sources	source	NOUN
fbem-24785	120	11	this	this	DET
fbem-24785	120	12	paper	paper	NOUN
fbem-24785	120	13	takes	take	VERB
fbem-24785	120	14	china	china	PROPN
fbem-24785	120	15	's	's	PART
fbem-24785	120	16	shanghai	shanghai	PROPN
fbem-24785	120	17	and	and	CCONJ
fbem-24785	120	18	shenzhen	shenzhen	PROPN
fbem-24785	120	19	a	a	PROPN
fbem-24785	120	20	-	-	PUNCT
fbem-24785	120	21	share	share	NOUN
fbem-24785	120	22	listed	list	VERB
fbem-24785	120	23	companies	company	NOUN
fbem-24785	120	24	from	from	ADP
fbem-24785	120	25	2010	2010	NUM
fbem-24785	120	26	to	to	ADP
fbem-24785	120	27	2021	2021	NUM
fbem-24785	120	28	as	as	ADP
fbem-24785	120	29	a	a	DET
fbem-24785	120	30	sample	sample	NOUN
fbem-24785	120	31	,	,	PUNCT
fbem-24785	120	32	and	and	CCONJ
fbem-24785	120	33	processes	process	VERB
fbem-24785	120	34	the	the	DET
fbem-24785	120	35	data	datum	NOUN
fbem-24785	120	36	:	:	PUNCT
fbem-24785	120	37	1	1	X
fbem-24785	120	38	.	.	X
fbem-24785	120	39	excluding	exclude	VERB
fbem-24785	120	40	financial	financial	ADJ
fbem-24785	120	41	and	and	CCONJ
fbem-24785	120	42	insurance	insurance	NOUN
fbem-24785	120	43	listed	list	VERB
fbem-24785	120	44	companies	company	NOUN
fbem-24785	120	45	;	;	PUNCT
fbem-24785	120	46	2	2	X
fbem-24785	120	47	.	.	X
fbem-24785	120	48	excluding	exclude	VERB
fbem-24785	120	49	st	st	PROPN
fbem-24785	120	50	and	and	CCONJ
fbem-24785	120	51	*	*	PROPN
fbem-24785	120	52	st	st	PROPN
fbem-24785	120	53	companies	company	NOUN
fbem-24785	120	54	;	;	PUNCT
fbem-24785	120	55	3	3	X
fbem-24785	120	56	.	.	X
fbem-24785	120	57	remove	remove	VERB
fbem-24785	120	58	companies	company	NOUN
fbem-24785	120	59	with	with	ADP
fbem-24785	120	60	missing	missing	ADJ
fbem-24785	120	61	and	and	CCONJ
fbem-24785	120	62	abnormal	abnormal	ADJ
fbem-24785	120	63	data	datum	NOUN
fbem-24785	120	64	in	in	ADP
fbem-24785	120	65	the	the	DET
fbem-24785	120	66	csmar	csmar	PROPN
fbem-24785	120	67	409	409	NUM
fbem-24785	120	68	database	database	NOUN
fbem-24785	120	69	.	.	PUNCT
fbem-24785	121	1	finally	finally	ADV
fbem-24785	121	2	,	,	PUNCT
fbem-24785	121	3	this	this	DET
fbem-24785	121	4	paper	paper	NOUN
fbem-24785	121	5	gets	get	VERB
fbem-24785	121	6	12652	12652	NUM
fbem-24785	121	7	data	datum	NOUN
fbem-24785	121	8	.	.	PUNCT
fbem-24785	122	1	in	in	ADP
fbem-24785	122	2	order	order	NOUN
fbem-24785	122	3	to	to	PART
fbem-24785	122	4	reduce	reduce	VERB
fbem-24785	122	5	the	the	DET
fbem-24785	122	6	impact	impact	NOUN
fbem-24785	122	7	of	of	ADP
fbem-24785	122	8	outliers	outlier	NOUN
fbem-24785	122	9	,	,	PUNCT
fbem-24785	122	10	all	all	DET
fbem-24785	122	11	variables	variable	NOUN
fbem-24785	122	12	are	be	AUX
fbem-24785	122	13	tailed	tail	VERB
fbem-24785	122	14	at	at	ADP
fbem-24785	122	15	1	1	NUM
fbem-24785	122	16	%	%	NOUN
fbem-24785	122	17	level	level	NOUN
fbem-24785	122	18	.	.	PUNCT
fbem-24785	123	1	3.2	3.2	NUM
fbem-24785	123	2	.	.	PUNCT
fbem-24785	123	3	model	model	NOUN
fbem-24785	123	4	setting	set	VERB
fbem-24785	123	5	in	in	ADP
fbem-24785	123	6	order	order	NOUN
fbem-24785	123	7	to	to	PART
fbem-24785	123	8	verify	verify	VERB
fbem-24785	123	9	hypothesis	hypothesis	NOUN
fbem-24785	123	10	1	1	NUM
fbem-24785	123	11	,	,	PUNCT
fbem-24785	123	12	that	that	ADV
fbem-24785	123	13	is	is	ADV
fbem-24785	123	14	,	,	PUNCT
fbem-24785	123	15	the	the	DET
fbem-24785	123	16	impact	impact	NOUN
fbem-24785	123	17	of	of	ADP
fbem-24785	123	18	economic	economic	ADJ
fbem-24785	123	19	policy	policy	NOUN
fbem-24785	123	20	uncertainty	uncertainty	NOUN
fbem-24785	123	21	on	on	ADP
fbem-24785	123	22	corporate	corporate	ADJ
fbem-24785	123	23	financial	financial	ADJ
fbem-24785	123	24	vulnerability	vulnerability	NOUN
fbem-24785	123	25	,	,	PUNCT
fbem-24785	123	26	this	this	DET
fbem-24785	123	27	paper	paper	NOUN
fbem-24785	123	28	constructs	construct	VERB
fbem-24785	123	29	a	a	DET
fbem-24785	123	30	multiple	multiple	ADJ
fbem-24785	123	31	linear	linear	ADJ
fbem-24785	123	32	regression	regression	NOUN
fbem-24785	123	33	model	model	NOUN
fbem-24785	123	34	(	(	PUNCT
fbem-24785	123	35	1	1	NUM
fbem-24785	123	36	):	):	PUNCT
fbem-24785	123	37	zi	zi	PROPN
fbem-24785	123	38	,	,	PUNCT
fbem-24785	123	39	t	t	PROPN
fbem-24785	123	40	=	=	SYM
fbem-24785	123	41	α0+α1eput-1+α2controls+∑year+∑ind+εi	α0+α1eput-1+α2controls+∑year+∑ind+εi	PROPN
fbem-24785	123	42	,	,	PUNCT
fbem-24785	123	43	t	t	PROPN
fbem-24785	123	44	(	(	PUNCT
fbem-24785	123	45	1	1	NUM
fbem-24785	123	46	)	)	PUNCT
fbem-24785	123	47	in	in	ADP
fbem-24785	123	48	order	order	NOUN
fbem-24785	123	49	to	to	PART
fbem-24785	123	50	test	test	VERB
fbem-24785	123	51	hypothesis	hypothesis	NOUN
fbem-24785	123	52	2	2	NUM
fbem-24785	123	53	,	,	PUNCT
fbem-24785	123	54	hypothesis	hypothesis	NOUN
fbem-24785	123	55	3	3	NUM
fbem-24785	123	56	and	and	CCONJ
fbem-24785	123	57	hypothesis	hypothesis	NOUN
fbem-24785	123	58	4	4	NUM
fbem-24785	123	59	,	,	PUNCT
fbem-24785	123	60	that	that	ADV
fbem-24785	123	61	is	is	ADV
fbem-24785	123	62	,	,	PUNCT
fbem-24785	123	63	the	the	DET
fbem-24785	123	64	moderating	moderate	VERB
fbem-24785	123	65	effect	effect	NOUN
fbem-24785	123	66	of	of	ADP
fbem-24785	123	67	different	different	ADJ
fbem-24785	123	68	financing	financing	NOUN
fbem-24785	123	69	modes	mode	NOUN
fbem-24785	123	70	on	on	ADP
fbem-24785	123	71	economic	economic	ADJ
fbem-24785	123	72	policy	policy	NOUN
fbem-24785	123	73	uncertainty	uncertainty	NOUN
fbem-24785	123	74	and	and	CCONJ
fbem-24785	123	75	corporate	corporate	ADJ
fbem-24785	123	76	financial	financial	ADJ
fbem-24785	123	77	vulnerability	vulnerability	NOUN
fbem-24785	123	78	,	,	PUNCT
fbem-24785	123	79	model	model	NOUN
fbem-24785	123	80	(	(	PUNCT
fbem-24785	123	81	2	2	NUM
fbem-24785	123	82	)	)	PUNCT
fbem-24785	123	83	,	,	PUNCT
fbem-24785	123	84	model	model	NOUN
fbem-24785	123	85	(	(	PUNCT
fbem-24785	123	86	3	3	NUM
fbem-24785	123	87	)	)	PUNCT
fbem-24785	123	88	and	and	CCONJ
fbem-24785	123	89	model	model	NOUN
fbem-24785	123	90	(	(	PUNCT
fbem-24785	123	91	4	4	X
fbem-24785	123	92	)	)	PUNCT
fbem-24785	123	93	are	be	AUX
fbem-24785	123	94	constructed	construct	VERB
fbem-24785	123	95	:	:	PUNCT
fbem-24785	124	1	zi	zi	NOUN
fbem-24785	124	2	,	,	PUNCT
fbem-24785	124	3	t	t	PROPN
fbem-24785	124	4	=	=	SYM
fbem-24785	124	5	β0+β1eput-1+β2creditdebti	β0+β1eput-1+β2creditdebti	NUM
fbem-24785	124	6	,	,	PUNCT
fbem-24785	124	7	t+β3eput-1×creditdebti	t+β3eput-1×creditdebti	NOUN
fbem-24785	124	8	,	,	PUNCT
fbem-24785	124	9	t+β4controls+∑year+∑ind+εi	t+β4controls+∑year+∑ind+εi	ADJ
fbem-24785	124	10	,	,	PUNCT
fbem-24785	124	11	t	t	NOUN
fbem-24785	124	12	(	(	PUNCT
fbem-24785	124	13	2	2	NUM
fbem-24785	124	14	)	)	PUNCT
fbem-24785	124	15	zi	zi	PROPN
fbem-24785	124	16	,	,	PUNCT
fbem-24785	124	17	t	t	PROPN
fbem-24785	124	18	=	=	PRON
fbem-24785	124	19	γ0+γ1eput-1+γ2bankdebti	γ0+γ1eput-1+γ2bankdebti	X
fbem-24785	124	20	,	,	PUNCT
fbem-24785	124	21	t+γ3eput-1×bankdebti	t+γ3eput-1×bankdebti	NUM
fbem-24785	124	22	,	,	PUNCT
fbem-24785	124	23	t+γ4controls+∑year+∑ind+εi	t+γ4controls+∑year+∑ind+εi	ADJ
fbem-24785	124	24	,	,	PUNCT
fbem-24785	124	25	t	t	PROPN
fbem-24785	124	26	(	(	PUNCT
fbem-24785	124	27	3	3	NUM
fbem-24785	124	28	)	)	PUNCT
fbem-24785	124	29	zi	zi	PROPN
fbem-24785	124	30	,	,	PUNCT
fbem-24785	124	31	t	t	PROPN
fbem-24785	124	32	=	=	SYM
fbem-24785	124	33	δ0+δ1eput-1+δ2bonddebti	δ0+δ1eput-1+δ2bonddebti	PROPN
fbem-24785	124	34	,	,	PUNCT
fbem-24785	124	35	t+δ3eput-1×bonddebti	t+δ3eput-1×bonddebti	NOUN
fbem-24785	124	36	,	,	PUNCT
fbem-24785	124	37	t+δ4controls+∑year+∑ind+εi	t+δ4controls+∑year+∑ind+εi	PROPN
fbem-24785	124	38	,	,	PUNCT
fbem-24785	124	39	t	t	PROPN
fbem-24785	124	40	(	(	PUNCT
fbem-24785	124	41	4	4	NUM
fbem-24785	124	42	)	)	PUNCT
fbem-24785	124	43	among	among	ADP
fbem-24785	124	44	them	they	PRON
fbem-24785	124	45	,	,	PUNCT
fbem-24785	124	46	the	the	DET
fbem-24785	124	47	subscript	subscript	NOUN
fbem-24785	124	48	i	i	PRON
fbem-24785	124	49	represents	represent	VERB
fbem-24785	124	50	the	the	DET
fbem-24785	124	51	enterprise	enterprise	NOUN
fbem-24785	124	52	,	,	PUNCT
fbem-24785	124	53	and	and	CCONJ
fbem-24785	124	54	t	t	PROPN
fbem-24785	124	55	represents	represent	VERB
fbem-24785	124	56	the	the	DET
fbem-24785	124	57	year	year	NOUN
fbem-24785	124	58	.	.	PUNCT
fbem-24785	125	1	the	the	DET
fbem-24785	125	2	explanatory	explanatory	ADJ
fbem-24785	125	3	variable	variable	NOUN
fbem-24785	125	4	z	z	PROPN
fbem-24785	125	5	represents	represent	VERB
fbem-24785	125	6	the	the	DET
fbem-24785	125	7	financial	financial	ADJ
fbem-24785	125	8	vulnerability	vulnerability	NOUN
fbem-24785	125	9	of	of	ADP
fbem-24785	125	10	the	the	DET
fbem-24785	125	11	enterprise	enterprise	NOUN
fbem-24785	125	12	,	,	PUNCT
fbem-24785	125	13	epu	epu	PROPN
fbem-24785	125	14	is	be	AUX
fbem-24785	125	15	the	the	DET
fbem-24785	125	16	economic	economic	ADJ
fbem-24785	125	17	policy	policy	NOUN
fbem-24785	125	18	uncertainty	uncertainty	NOUN
fbem-24785	125	19	index	index	NOUN
fbem-24785	125	20	,	,	PUNCT
fbem-24785	125	21	ind	ind	NOUN
fbem-24785	125	22	is	be	AUX
fbem-24785	125	23	the	the	DET
fbem-24785	125	24	industry	industry	NOUN
fbem-24785	125	25	dummy	dummy	ADJ
fbem-24785	125	26	variable	variable	NOUN
fbem-24785	125	27	,	,	PUNCT
fbem-24785	125	28	controls	control	NOUN
fbem-24785	125	29	is	be	AUX
fbem-24785	125	30	a	a	DET
fbem-24785	125	31	set	set	NOUN
fbem-24785	125	32	of	of	ADP
fbem-24785	125	33	control	control	NOUN
fbem-24785	125	34	variables	variable	NOUN
fbem-24785	125	35	,	,	PUNCT
fbem-24785	125	36	εi	εi	VERB
fbem-24785	125	37	,	,	PUNCT
fbem-24785	125	38	t	t	PROPN
fbem-24785	125	39	is	be	AUX
fbem-24785	125	40	a	a	DET
fbem-24785	125	41	random	random	ADJ
fbem-24785	125	42	error	error	NOUN
fbem-24785	125	43	term	term	NOUN
fbem-24785	125	44	.	.	PUNCT
fbem-24785	126	1	3.3	3.3	NUM
fbem-24785	126	2	.	.	PUNCT
fbem-24785	127	1	variable	variable	ADJ
fbem-24785	127	2	definition	definition	NOUN
fbem-24785	127	3	3.3.1	3.3.1	NUM
fbem-24785	127	4	.	.	PUNCT
fbem-24785	128	1	explanatory	explanatory	ADJ
fbem-24785	128	2	variables	variable	NOUN
fbem-24785	128	3	economic	economic	ADJ
fbem-24785	128	4	policy	policy	NOUN
fbem-24785	128	5	uncertainty	uncertainty	NOUN
fbem-24785	128	6	(	(	PUNCT
fbem-24785	128	7	epu	epu	PROPN
fbem-24785	128	8	)	)	PUNCT
fbem-24785	128	9	.	.	PUNCT
fbem-24785	129	1	this	this	DET
fbem-24785	129	2	paper	paper	NOUN
fbem-24785	129	3	uses	use	VERB
fbem-24785	129	4	the	the	DET
fbem-24785	129	5	economic	economic	ADJ
fbem-24785	129	6	policy	policy	NOUN
fbem-24785	129	7	uncertainty	uncertainty	NOUN
fbem-24785	129	8	index	index	NOUN
fbem-24785	129	9	constructed	construct	VERB
fbem-24785	129	10	by	by	ADP
fbem-24785	129	11	baker	baker	PROPN
fbem-24785	129	12	(	(	PUNCT
fbem-24785	129	13	2016	2016	NUM
fbem-24785	129	14	)	)	PUNCT
fbem-24785	130	1	[	[	X
fbem-24785	130	2	30	30	NUM
fbem-24785	130	3	]	]	PUNCT
fbem-24785	130	4	and	and	CCONJ
fbem-24785	130	5	other	other	ADJ
fbem-24785	130	6	scholars	scholar	NOUN
fbem-24785	130	7	to	to	PART
fbem-24785	130	8	measure	measure	VERB
fbem-24785	130	9	,	,	PUNCT
fbem-24785	130	10	and	and	CCONJ
fbem-24785	130	11	has	have	AUX
fbem-24785	130	12	been	be	AUX
fbem-24785	130	13	proved	prove	VERB
fbem-24785	130	14	by	by	ADP
fbem-24785	130	15	the	the	DET
fbem-24785	130	16	research	research	NOUN
fbem-24785	130	17	results	result	NOUN
fbem-24785	130	18	of	of	ADP
fbem-24785	130	19	foreign	foreign	ADJ
fbem-24785	130	20	literature	literature	NOUN
fbem-24785	130	21	that	that	PRON
fbem-24785	130	22	the	the	DET
fbem-24785	130	23	index	index	NOUN
fbem-24785	130	24	has	have	AUX
fbem-24785	130	25	become	become	VERB
fbem-24785	130	26	the	the	DET
fbem-24785	130	27	main	main	ADJ
fbem-24785	130	28	index	index	NOUN
fbem-24785	130	29	to	to	PART
fbem-24785	130	30	evaluate	evaluate	VERB
fbem-24785	130	31	the	the	DET
fbem-24785	130	32	degree	degree	NOUN
fbem-24785	130	33	of	of	ADP
fbem-24785	130	34	uncertainty	uncertainty	NOUN
fbem-24785	130	35	of	of	ADP
fbem-24785	130	36	macroeconomic	macroeconomic	ADJ
fbem-24785	130	37	policy	policy	NOUN
fbem-24785	130	38	,	,	PUNCT
fbem-24785	130	39	and	and	CCONJ
fbem-24785	130	40	is	be	AUX
fbem-24785	130	41	widely	widely	ADV
fbem-24785	130	42	used	use	VERB
fbem-24785	130	43	in	in	ADP
fbem-24785	130	44	the	the	DET
fbem-24785	130	45	study	study	NOUN
fbem-24785	130	46	of	of	ADP
fbem-24785	130	47	corporate	corporate	ADJ
fbem-24785	130	48	behavior	behavior	NOUN
fbem-24785	130	49	(	(	PUNCT
fbem-24785	130	50	liu	liu	PROPN
fbem-24785	130	51	hongzhong	hongzhong	PROPN
fbem-24785	130	52	et	et	PROPN
fbem-24785	130	53	al	al	PROPN
fbem-24785	130	54	.	.	PROPN
fbem-24785	130	55	,	,	PUNCT
fbem-24785	130	56	2021	2021	NUM
fbem-24785	130	57	;	;	PUNCT
fbem-24785	130	58	huang	huang	PROPN
fbem-24785	130	59	haijie	haijie	PROPN
fbem-24785	130	60	et	et	PROPN
fbem-24785	130	61	al	al	PROPN
fbem-24785	130	62	.	.	PROPN
fbem-24785	130	63	,	,	PUNCT
fbem-24785	130	64	2022	2022	NUM
fbem-24785	130	65	)	)	PUNCT
fbem-24785	131	1	[	[	X
fbem-24785	131	2	31	31	NUM
fbem-24785	131	3	,	,	PUNCT
fbem-24785	131	4	32	32	NUM
fbem-24785	131	5	]	]	PUNCT
fbem-24785	131	6	.	.	PUNCT
fbem-24785	132	1	since	since	SCONJ
fbem-24785	132	2	the	the	DET
fbem-24785	132	3	economic	economic	ADJ
fbem-24785	132	4	policy	policy	NOUN
fbem-24785	132	5	uncertainty	uncertainty	NOUN
fbem-24785	132	6	index	index	NOUN
fbem-24785	132	7	is	be	AUX
fbem-24785	132	8	a	a	DET
fbem-24785	132	9	monthly	monthly	ADJ
fbem-24785	132	10	index	index	NOUN
fbem-24785	132	11	,	,	PUNCT
fbem-24785	132	12	in	in	ADP
fbem-24785	132	13	order	order	NOUN
fbem-24785	132	14	to	to	PART
fbem-24785	132	15	match	match	VERB
fbem-24785	132	16	other	other	ADJ
fbem-24785	132	17	annual	annual	ADJ
fbem-24785	132	18	variables	variable	NOUN
fbem-24785	132	19	,	,	PUNCT
fbem-24785	132	20	this	this	DET
fbem-24785	132	21	paper	paper	NOUN
fbem-24785	132	22	takes	take	VERB
fbem-24785	132	23	the	the	DET
fbem-24785	132	24	12	12	NUM
fbem-24785	132	25	-	-	PUNCT
fbem-24785	132	26	month	month	NOUN
fbem-24785	132	27	arithmetic	arithmetic	ADJ
fbem-24785	132	28	mean	mean	NOUN
fbem-24785	132	29	to	to	PART
fbem-24785	132	30	convert	convert	VERB
fbem-24785	132	31	it	it	PRON
fbem-24785	132	32	into	into	ADP
fbem-24785	132	33	an	an	DET
fbem-24785	132	34	annual	annual	ADJ
fbem-24785	132	35	index	index	NOUN
fbem-24785	132	36	.	.	PUNCT
fbem-24785	133	1	3.3.2	3.3.2	NUM
fbem-24785	133	2	.	.	NUM
fbem-24785	133	3	explained	explain	VERB
fbem-24785	133	4	variables	variable	NOUN
fbem-24785	133	5	this	this	DET
fbem-24785	133	6	paper	paper	NOUN
fbem-24785	133	7	chooses	choose	VERB
fbem-24785	133	8	to	to	PART
fbem-24785	133	9	use	use	VERB
fbem-24785	133	10	z	z	NOUN
fbem-24785	133	11	-	-	PUNCT
fbem-24785	133	12	score	score	NOUN
fbem-24785	133	13	to	to	PART
fbem-24785	133	14	measure	measure	VERB
fbem-24785	133	15	the	the	DET
fbem-24785	133	16	financial	financial	ADJ
fbem-24785	133	17	vulnerability	vulnerability	NOUN
fbem-24785	133	18	of	of	ADP
fbem-24785	133	19	enterprises	enterprise	NOUN
fbem-24785	133	20	.	.	PUNCT
fbem-24785	134	1	z	z	X
fbem-24785	134	2	-	-	PUNCT
fbem-24785	134	3	score	score	NOUN
fbem-24785	134	4	is	be	AUX
fbem-24785	134	5	a	a	DET
fbem-24785	134	6	famous	famous	ADJ
fbem-24785	134	7	z	z	NOUN
fbem-24785	134	8	-	-	PUNCT
fbem-24785	134	9	score	score	NOUN
fbem-24785	134	10	model	model	NOUN
fbem-24785	134	11	(	(	PUNCT
fbem-24785	134	12	altman	altman	PROPN
fbem-24785	134	13	,	,	PUNCT
fbem-24785	134	14	1968	1968	NUM
fbem-24785	134	15	)	)	PUNCT
fbem-24785	135	1	[	[	X
fbem-24785	135	2	33	33	NUM
fbem-24785	135	3	]	]	PUNCT
fbem-24785	135	4	established	establish	VERB
fbem-24785	135	5	by	by	ADP
fbem-24785	135	6	american	american	ADJ
fbem-24785	135	7	professor	professor	PROPN
fbem-24785	135	8	atman	atman	NOUN
fbem-24785	135	9	using	use	VERB
fbem-24785	135	10	22	22	NUM
fbem-24785	135	11	financial	financial	ADJ
fbem-24785	135	12	ratios	ratio	NOUN
fbem-24785	135	13	through	through	ADP
fbem-24785	135	14	mathematical	mathematical	ADJ
fbem-24785	135	15	statistics	statistic	NOUN
fbem-24785	135	16	screening	screen	VERB
fbem-24785	135	17	.	.	PUNCT
fbem-24785	136	1	it	it	PRON
fbem-24785	136	2	was	be	AUX
fbem-24785	136	3	originally	originally	ADV
fbem-24785	136	4	used	use	VERB
fbem-24785	136	5	to	to	PART
fbem-24785	136	6	study	study	VERB
fbem-24785	136	7	and	and	CCONJ
fbem-24785	136	8	observe	observe	VERB
fbem-24785	136	9	bankrupt	bankrupt	ADJ
fbem-24785	136	10	and	and	CCONJ
fbem-24785	136	11	non	non	ADJ
fbem-24785	136	12	-	-	ADJ
fbem-24785	136	13	bankruptcy	bankruptcy	ADJ
fbem-24785	136	14	production	production	NOUN
fbem-24785	136	15	enterprises	enterprise	NOUN
fbem-24785	136	16	in	in	ADP
fbem-24785	136	17	the	the	DET
fbem-24785	136	18	united	united	PROPN
fbem-24785	136	19	states	states	PROPN
fbem-24785	136	20	,	,	PUNCT
fbem-24785	136	21	and	and	CCONJ
fbem-24785	136	22	to	to	PART
fbem-24785	136	23	carry	carry	VERB
fbem-24785	136	24	out	out	ADP
fbem-24785	136	25	systematic	systematic	ADJ
fbem-24785	136	26	analysis	analysis	NOUN
fbem-24785	136	27	,	,	PUNCT
fbem-24785	136	28	and	and	CCONJ
fbem-24785	136	29	then	then	ADV
fbem-24785	136	30	widely	widely	ADV
fbem-24785	136	31	used	use	VERB
fbem-24785	136	32	in	in	ADP
fbem-24785	136	33	many	many	ADJ
fbem-24785	136	34	countries	country	NOUN
fbem-24785	136	35	.	.	PUNCT
fbem-24785	137	1	the	the	DET
fbem-24785	137	2	specific	specific	ADJ
fbem-24785	137	3	calculation	calculation	NOUN
fbem-24785	137	4	formula	formula	NOUN
fbem-24785	137	5	is	be	AUX
fbem-24785	137	6	as	as	SCONJ
fbem-24785	137	7	follows	follow	VERB
fbem-24785	137	8	:	:	PUNCT
fbem-24785	137	9	z=1.2x1	z=1.2x1	ADJ
fbem-24785	137	10	+	+	NOUN
fbem-24785	137	11	1.4x2	1.4x2	NUM
fbem-24785	137	12	+	+	NOUN
fbem-24785	137	13	3.3x3	3.3x3	NUM
fbem-24785	137	14	+	+	NOUN
fbem-24785	137	15	0.6x4	0.6x4	NUM
fbem-24785	137	16	+	+	NOUN
fbem-24785	137	17	0.999x5	0.999x5	NUM
fbem-24785	137	18	(	(	PUNCT
fbem-24785	137	19	5	5	NUM
fbem-24785	137	20	)	)	PUNCT
fbem-24785	137	21	among	among	ADP
fbem-24785	137	22	them	they	PRON
fbem-24785	137	23	,	,	PUNCT
fbem-24785	137	24	x1	x1	PROPN
fbem-24785	137	25	=	=	SYM
fbem-24785	137	26	working	work	VERB
fbem-24785	137	27	capital	capital	NOUN
fbem-24785	137	28	/	/	SYM
fbem-24785	137	29	total	total	ADJ
fbem-24785	137	30	assets	asset	NOUN
fbem-24785	137	31	,	,	PUNCT
fbem-24785	138	1	x2	x2	PROPN
fbem-24785	138	2	=	=	PUNCT
fbem-24785	138	3	retained	retain	VERB
fbem-24785	138	4	earnings	earning	NOUN
fbem-24785	138	5	/	/	SYM
fbem-24785	138	6	total	total	ADJ
fbem-24785	138	7	assets	asset	NOUN
fbem-24785	138	8	,	,	PUNCT
fbem-24785	138	9	x3	x3	NOUN
fbem-24785	138	10	=	=	SYM
fbem-24785	138	11	earnings	earning	NOUN
fbem-24785	138	12	before	before	ADP
fbem-24785	138	13	interest	interest	NOUN
fbem-24785	138	14	and	and	CCONJ
fbem-24785	138	15	tax	tax	NOUN
fbem-24785	138	16	/	/	SYM
fbem-24785	138	17	total	total	ADJ
fbem-24785	138	18	assets	asset	NOUN
fbem-24785	138	19	,	,	PUNCT
fbem-24785	138	20	x4	x4	PROPN
fbem-24785	138	21	=	=	NOUN
fbem-24785	138	22	equity	equity	NOUN
fbem-24785	138	23	market	market	NOUN
fbem-24785	138	24	value	value	NOUN
fbem-24785	138	25	/	/	SYM
fbem-24785	138	26	total	total	ADJ
fbem-24785	138	27	liabilities	liability	NOUN
fbem-24785	138	28	,	,	PUNCT
fbem-24785	138	29	x5	x5	NOUN
fbem-24785	138	30	=	=	SYM
fbem-24785	138	31	operating	operate	VERB
fbem-24785	138	32	income	income	NOUN
fbem-24785	138	33	/	/	SYM
fbem-24785	138	34	total	total	ADJ
fbem-24785	138	35	assets	asset	NOUN
fbem-24785	138	36	.	.	PUNCT
fbem-24785	139	1	the	the	PRON
fbem-24785	139	2	higher	high	ADJ
fbem-24785	139	3	the	the	DET
fbem-24785	139	4	ratio	ratio	NOUN
fbem-24785	139	5	is	be	AUX
fbem-24785	139	6	,	,	PUNCT
fbem-24785	139	7	the	the	PRON
fbem-24785	139	8	better	well	ADJ
fbem-24785	139	9	the	the	DET
fbem-24785	139	10	operation	operation	NOUN
fbem-24785	139	11	of	of	ADP
fbem-24785	139	12	the	the	DET
fbem-24785	139	13	enterprise	enterprise	NOUN
fbem-24785	139	14	is	be	AUX
fbem-24785	139	15	,	,	PUNCT
fbem-24785	139	16	the	the	DET
fbem-24785	139	17	more	more	ADV
fbem-24785	139	18	reasonable	reasonable	ADJ
fbem-24785	139	19	the	the	DET
fbem-24785	139	20	financial	financial	ADJ
fbem-24785	139	21	structure	structure	NOUN
fbem-24785	139	22	is	be	AUX
fbem-24785	139	23	,	,	PUNCT
fbem-24785	139	24	and	and	CCONJ
fbem-24785	139	25	the	the	PRON
fbem-24785	139	26	higher	high	ADJ
fbem-24785	139	27	the	the	DET
fbem-24785	139	28	enterprise	enterprise	NOUN
fbem-24785	139	29	value	value	NOUN
fbem-24785	139	30	is	be	AUX
fbem-24785	139	31	.	.	PUNCT
fbem-24785	140	1	the	the	DET
fbem-24785	140	2	z	z	NOUN
fbem-24785	140	3	score	score	NOUN
fbem-24785	140	4	calculated	calculate	VERB
fbem-24785	140	5	by	by	ADP
fbem-24785	140	6	the	the	DET
fbem-24785	140	7	formula	formula	NOUN
fbem-24785	140	8	is	be	AUX
fbem-24785	140	9	less	less	ADJ
fbem-24785	140	10	than	than	ADP
fbem-24785	140	11	1.8	1.8	NUM
fbem-24785	140	12	,	,	PUNCT
fbem-24785	140	13	indicating	indicate	VERB
fbem-24785	140	14	that	that	SCONJ
fbem-24785	140	15	the	the	DET
fbem-24785	140	16	enterprise	enterprise	NOUN
fbem-24785	140	17	is	be	AUX
fbem-24785	140	18	in	in	ADP
fbem-24785	140	19	the	the	DET
fbem-24785	140	20	bankruptcy	bankruptcy	NOUN
fbem-24785	140	21	zone	zone	NOUN
fbem-24785	140	22	;	;	PUNCT
fbem-24785	140	23	z	z	NOUN
fbem-24785	140	24	score	score	NOUN
fbem-24785	140	25	1.8≤z<2.99	1.8≤z<2.99	NUM
fbem-24785	140	26	,	,	PUNCT
fbem-24785	140	27	the	the	DET
fbem-24785	140	28	enterprise	enterprise	NOUN
fbem-24785	140	29	is	be	AUX
fbem-24785	140	30	in	in	ADP
fbem-24785	140	31	a	a	DET
fbem-24785	140	32	safe	safe	ADJ
fbem-24785	140	33	area	area	NOUN
fbem-24785	140	34	.	.	PUNCT
fbem-24785	141	1	the	the	PRON
fbem-24785	141	2	higher	high	ADJ
fbem-24785	141	3	the	the	DET
fbem-24785	141	4	score	score	NOUN
fbem-24785	141	5	,	,	PUNCT
fbem-24785	141	6	the	the	PRON
fbem-24785	141	7	smaller	small	ADJ
fbem-24785	141	8	the	the	DET
fbem-24785	141	9	financial	financial	ADJ
fbem-24785	141	10	risk	risk	NOUN
fbem-24785	141	11	of	of	ADP
fbem-24785	141	12	the	the	DET
fbem-24785	141	13	enterprise	enterprise	NOUN
fbem-24785	141	14	and	and	CCONJ
fbem-24785	141	15	the	the	PRON
fbem-24785	141	16	lower	low	ADJ
fbem-24785	141	17	the	the	DET
fbem-24785	141	18	financial	financial	ADJ
fbem-24785	141	19	vulnerability	vulnerability	NOUN
fbem-24785	141	20	.	.	PUNCT
fbem-24785	142	1	3.3.3	3.3.3	NUM
fbem-24785	142	2	.	.	PUNCT
fbem-24785	142	3	regulating	regulate	VERB
fbem-24785	142	4	variables	variable	NOUN
fbem-24785	142	5	this	this	DET
fbem-24785	142	6	paper	paper	NOUN
fbem-24785	142	7	mainly	mainly	ADV
fbem-24785	142	8	refers	refer	VERB
fbem-24785	142	9	to	to	ADP
fbem-24785	142	10	the	the	DET
fbem-24785	142	11	research	research	NOUN
fbem-24785	142	12	of	of	ADP
fbem-24785	142	13	scholars	scholar	NOUN
fbem-24785	142	14	such	such	ADJ
fbem-24785	142	15	as	as	ADP
fbem-24785	142	16	chen	chen	PROPN
fbem-24785	142	17	mingli	mingli	PROPN
fbem-24785	142	18	(	(	PUNCT
fbem-24785	142	19	2018	2018	NUM
fbem-24785	142	20	)	)	PUNCT
fbem-24785	143	1	[	[	X
fbem-24785	143	2	19	19	NUM
fbem-24785	143	3	]	]	PUNCT
fbem-24785	143	4	.	.	PUNCT
fbem-24785	144	1	in	in	ADP
fbem-24785	144	2	the	the	DET
fbem-24785	144	3	financing	financing	NOUN
fbem-24785	144	4	model	model	NOUN
fbem-24785	144	5	,	,	PUNCT
fbem-24785	144	6	bank	bank	NOUN
fbem-24785	144	7	loans	loan	NOUN
fbem-24785	144	8	(	(	PUNCT
fbem-24785	144	9	bankdebt	bankdebt	PROPN
fbem-24785	144	10	)	)	PUNCT
fbem-24785	144	11	,	,	PUNCT
fbem-24785	144	12	bond	bond	NOUN
fbem-24785	144	13	financing	financing	NOUN
fbem-24785	144	14	(	(	PUNCT
fbem-24785	144	15	bonddebt	bonddebt	ADJ
fbem-24785	144	16	)	)	PUNCT
fbem-24785	144	17	and	and	CCONJ
fbem-24785	144	18	credit	credit	NOUN
fbem-24785	144	19	financing	financing	NOUN
fbem-24785	144	20	(	(	PUNCT
fbem-24785	144	21	creditdebt	creditdebt	PROPN
fbem-24785	144	22	)	)	PUNCT
fbem-24785	144	23	are	be	AUX
fbem-24785	144	24	selected	select	VERB
fbem-24785	144	25	respectively	respectively	ADV
fbem-24785	144	26	(	(	PUNCT
fbem-24785	144	27	shortterm	shortterm	PROPN
fbem-24785	144	28	borrowing	borrow	VERB
fbem-24785	144	29	+	+	CCONJ
fbem-24785	144	30	long	long	ADJ
fbem-24785	144	31	-	-	PUNCT
fbem-24785	144	32	term	term	NOUN
fbem-24785	144	33	borrowing	borrowing	NOUN
fbem-24785	144	34	)	)	PUNCT
fbem-24785	144	35	/	/	SYM
fbem-24785	144	36	total	total	ADJ
fbem-24785	144	37	assets	asset	NOUN
fbem-24785	144	38	,	,	PUNCT
fbem-24785	144	39	bonds	bond	NOUN
fbem-24785	144	40	payable	payable	ADJ
fbem-24785	144	41	/	/	SYM
fbem-24785	144	42	total	total	ADJ
fbem-24785	144	43	assets	asset	NOUN
fbem-24785	144	44	,	,	PUNCT
fbem-24785	144	45	(	(	PUNCT
fbem-24785	144	46	accounts	account	VERB
fbem-24785	144	47	payable	payable	ADJ
fbem-24785	144	48	+	+	CCONJ
fbem-24785	144	49	other	other	ADJ
fbem-24785	144	50	accounts	account	NOUN
fbem-24785	144	51	payable	payable	ADJ
fbem-24785	144	52	)	)	PUNCT
fbem-24785	144	53	/	/	SYM
fbem-24785	144	54	total	total	ADJ
fbem-24785	144	55	assets	asset	NOUN
fbem-24785	144	56	.	.	PUNCT
fbem-24785	145	1	3.3.4	3.3.4	X
fbem-24785	145	2	.	.	PUNCT
fbem-24785	146	1	control	control	NOUN
fbem-24785	146	2	variables	variable	NOUN
fbem-24785	146	3	this	this	DET
fbem-24785	146	4	article	article	NOUN
fbem-24785	146	5	refers	refer	VERB
fbem-24785	146	6	to	to	ADP
fbem-24785	146	7	the	the	DET
fbem-24785	146	8	research	research	NOUN
fbem-24785	146	9	of	of	ADP
fbem-24785	146	10	li	li	PROPN
fbem-24785	146	11	fengyu	fengyu	PROPN
fbem-24785	146	12	et	et	PROPN
fbem-24785	146	13	al	al	PROPN
fbem-24785	146	14	.	.	PROPN
fbem-24785	147	1	(	(	PUNCT
fbem-24785	147	2	2015	2015	NUM
fbem-24785	147	3	)	)	PUNCT
fbem-24785	148	1	[	[	X
fbem-24785	148	2	34	34	NUM
fbem-24785	148	3	]	]	PUNCT
fbem-24785	148	4	,	,	PUNCT
fbem-24785	148	5	wang	wang	PROPN
fbem-24785	148	6	hongjian	hongjian	PROPN
fbem-24785	148	7	et	et	PROPN
fbem-24785	148	8	al	al	PROPN
fbem-24785	148	9	.	.	PROPN
fbem-24785	148	10	(	(	PUNCT
fbem-24785	148	11	2014	2014	NUM
fbem-24785	148	12	)	)	PUNCT
fbem-24785	149	1	[	[	X
fbem-24785	149	2	8	8	NUM
fbem-24785	149	3	]	]	PUNCT
fbem-24785	149	4	,	,	PUNCT
fbem-24785	149	5	wu	wu	PROPN
fbem-24785	149	6	chengsong	chengsong	PROPN
fbem-24785	149	7	et	et	PROPN
fbem-24785	149	8	al	al	PROPN
fbem-24785	149	9	.	.	PROPN
fbem-24785	149	10	(	(	PUNCT
fbem-24785	149	11	2022	2022	NUM
fbem-24785	149	12	)	)	PUNCT
fbem-24785	150	1	[	[	X
fbem-24785	150	2	35	35	NUM
fbem-24785	150	3	]	]	PUNCT
fbem-24785	150	4	,	,	PUNCT
fbem-24785	150	5	in	in	ADP
fbem-24785	150	6	order	order	NOUN
fbem-24785	150	7	to	to	PART
fbem-24785	150	8	control	control	VERB
fbem-24785	150	9	the	the	DET
fbem-24785	150	10	interference	interference	NOUN
fbem-24785	150	11	of	of	ADP
fbem-24785	150	12	other	other	ADJ
fbem-24785	150	13	factors	factor	NOUN
fbem-24785	150	14	on	on	ADP
fbem-24785	150	15	variables	variable	NOUN
fbem-24785	150	16	as	as	ADV
fbem-24785	150	17	much	much	ADV
fbem-24785	150	18	as	as	ADP
fbem-24785	150	19	possible	possible	ADJ
fbem-24785	150	20	.	.	PUNCT
fbem-24785	151	1	this	this	DET
fbem-24785	151	2	paper	paper	NOUN
fbem-24785	151	3	selects	select	VERB
fbem-24785	151	4	the	the	DET
fbem-24785	151	5	following	follow	VERB
fbem-24785	151	6	control	control	NOUN
fbem-24785	151	7	variables	variable	NOUN
fbem-24785	151	8	:	:	PUNCT
fbem-24785	151	9	enterprise	enterprise	NOUN
fbem-24785	151	10	scale	scale	NOUN
fbem-24785	151	11	(	(	PUNCT
fbem-24785	151	12	size	size	NOUN
fbem-24785	151	13	)	)	PUNCT
fbem-24785	151	14	,	,	PUNCT
fbem-24785	151	15	tobin	tobin	PROPN
fbem-24785	151	16	's	's	PART
fbem-24785	151	17	q	q	NOUN
fbem-24785	151	18	value	value	NOUN
fbem-24785	151	19	(	(	PUNCT
fbem-24785	151	20	tobinq	tobinq	ADJ
fbem-24785	151	21	)	)	PUNCT
fbem-24785	151	22	,	,	PUNCT
fbem-24785	151	23	return	return	VERB
fbem-24785	151	24	on	on	ADP
fbem-24785	151	25	total	total	ADJ
fbem-24785	151	26	assets	asset	NOUN
fbem-24785	151	27	(	(	PUNCT
fbem-24785	151	28	roa	roa	NOUN
fbem-24785	151	29	)	)	PUNCT
fbem-24785	151	30	,	,	PUNCT
fbem-24785	151	31	assetliability	assetliability	NOUN
fbem-24785	151	32	ratio	ratio	NOUN
fbem-24785	151	33	(	(	PUNCT
fbem-24785	151	34	lev	lev	NOUN
fbem-24785	151	35	)	)	PUNCT
fbem-24785	151	36	,	,	PUNCT
fbem-24785	151	37	short	short	ADJ
fbem-24785	151	38	-	-	PUNCT
fbem-24785	151	39	term	term	NOUN
fbem-24785	151	40	borrowing	borrowing	NOUN
fbem-24785	151	41	(	(	PUNCT
fbem-24785	151	42	shortloan	shortloan	PROPN
fbem-24785	151	43	)	)	PUNCT
fbem-24785	151	44	,	,	PUNCT
fbem-24785	151	45	long	long	ADJ
fbem-24785	151	46	-	-	PUNCT
fbem-24785	151	47	term	term	NOUN
fbem-24785	151	48	borrowing	borrowing	NOUN
fbem-24785	151	49	(	(	PUNCT
fbem-24785	151	50	longloan	longloan	NOUN
fbem-24785	151	51	)	)	PUNCT
fbem-24785	151	52	,	,	PUNCT
fbem-24785	151	53	the	the	DET
fbem-24785	151	54	proportion	proportion	NOUN
fbem-24785	151	55	of	of	ADP
fbem-24785	151	56	the	the	DET
fbem-24785	151	57	largest	large	ADJ
fbem-24785	151	58	shareholder	shareholder	NOUN
fbem-24785	151	59	(	(	PUNCT
fbem-24785	151	60	top1	top1	PROPN
fbem-24785	151	61	)	)	PUNCT
fbem-24785	151	62	,	,	PUNCT
fbem-24785	151	63	the	the	DET
fbem-24785	151	64	proportion	proportion	NOUN
fbem-24785	151	65	of	of	ADP
fbem-24785	151	66	institutional	institutional	ADJ
fbem-24785	151	67	investors	investor	NOUN
fbem-24785	151	68	(	(	PUNCT
fbem-24785	151	69	ins	in	NOUN
fbem-24785	151	70	)	)	PUNCT
fbem-24785	151	71	,	,	PUNCT
fbem-24785	151	72	corporate	corporate	ADJ
fbem-24785	151	73	cash	cash	NOUN
fbem-24785	151	74	flow	flow	NOUN
fbem-24785	151	75	(	(	PUNCT
fbem-24785	151	76	cashflow	cashflow	NOUN
fbem-24785	151	77	)	)	PUNCT
fbem-24785	151	78	,	,	PUNCT
fbem-24785	151	79	listing	list	VERB
fbem-24785	151	80	years	year	NOUN
fbem-24785	151	81	(	(	PUNCT
fbem-24785	151	82	listage	listage	NOUN
fbem-24785	151	83	)	)	PUNCT
fbem-24785	151	84	,	,	PUNCT
fbem-24785	151	85	growth	growth	NOUN
fbem-24785	151	86	ability	ability	NOUN
fbem-24785	151	87	(	(	PUNCT
fbem-24785	151	88	growth	growth	NOUN
fbem-24785	151	89	)	)	PUNCT
fbem-24785	151	90	,	,	PUNCT
fbem-24785	151	91	total	total	ADJ
fbem-24785	151	92	asset	asset	NOUN
fbem-24785	151	93	turnover	turnover	NOUN
fbem-24785	151	94	(	(	PUNCT
fbem-24785	151	95	ato	ato	PROPN
fbem-24785	151	96	)	)	PUNCT
fbem-24785	151	97	,	,	PUNCT
fbem-24785	151	98	the	the	DET
fbem-24785	151	99	number	number	NOUN
fbem-24785	151	100	of	of	ADP
fbem-24785	151	101	directors	director	NOUN
fbem-24785	151	102	(	(	PUNCT
fbem-24785	151	103	board	board	NOUN
fbem-24785	151	104	)	)	PUNCT
fbem-24785	151	105	,	,	PUNCT
fbem-24785	151	106	the	the	DET
fbem-24785	151	107	nature	nature	NOUN
fbem-24785	151	108	of	of	ADP
fbem-24785	151	109	property	property	NOUN
fbem-24785	151	110	rights	right	NOUN
fbem-24785	151	111	(	(	PUNCT
fbem-24785	151	112	soe	soe	PROPN
fbem-24785	151	113	)	)	PUNCT
fbem-24785	151	114	,	,	PUNCT
fbem-24785	151	115	the	the	DET
fbem-24785	151	116	proportion	proportion	NOUN
fbem-24785	151	117	of	of	ADP
fbem-24785	151	118	independent	independent	ADJ
fbem-24785	151	119	directors	director	NOUN
fbem-24785	151	120	(	(	PUNCT
fbem-24785	151	121	indep	indep	NOUN
fbem-24785	151	122	)	)	PUNCT
fbem-24785	151	123	.	.	PUNCT
fbem-24785	152	1	in	in	ADP
fbem-24785	152	2	addition	addition	NOUN
fbem-24785	152	3	,	,	PUNCT
fbem-24785	152	4	there	there	PRON
fbem-24785	152	5	are	be	VERB
fbem-24785	152	6	two	two	NUM
fbem-24785	152	7	control	control	NOUN
fbem-24785	152	8	variables	variable	NOUN
fbem-24785	152	9	,	,	PUNCT
fbem-24785	152	10	industry	industry	NOUN
fbem-24785	152	11	(	(	PUNCT
fbem-24785	152	12	ind	ind	NOUN
fbem-24785	152	13	)	)	PUNCT
fbem-24785	152	14	and	and	CCONJ
fbem-24785	152	15	year	year	NOUN
fbem-24785	152	16	(	(	PUNCT
fbem-24785	152	17	year	year	NOUN
fbem-24785	152	18	)	)	PUNCT
fbem-24785	152	19	.	.	PUNCT
fbem-24785	153	1	4	4	X
fbem-24785	153	2	.	.	X
fbem-24785	153	3	empirical	empirical	ADJ
fbem-24785	153	4	results	result	NOUN
fbem-24785	153	5	4.1	4.1	NUM
fbem-24785	153	6	.	.	PUNCT
fbem-24785	154	1	descriptive	descriptive	ADJ
fbem-24785	154	2	statistics	statistic	NOUN
fbem-24785	154	3	from	from	ADP
fbem-24785	154	4	the	the	DET
fbem-24785	154	5	descriptive	descriptive	ADJ
fbem-24785	154	6	statistics	statistic	NOUN
fbem-24785	154	7	of	of	ADP
fbem-24785	154	8	the	the	DET
fbem-24785	154	9	main	main	ADJ
fbem-24785	154	10	variables	variable	NOUN
fbem-24785	154	11	in	in	ADP
fbem-24785	154	12	table	table	NOUN
fbem-24785	154	13	1	1	NUM
fbem-24785	154	14	,	,	PUNCT
fbem-24785	154	15	it	it	PRON
fbem-24785	154	16	can	can	AUX
fbem-24785	154	17	be	be	AUX
fbem-24785	154	18	seen	see	VERB
fbem-24785	154	19	that	that	SCONJ
fbem-24785	154	20	the	the	DET
fbem-24785	154	21	minimum	minimum	ADJ
fbem-24785	154	22	value	value	NOUN
fbem-24785	154	23	of	of	ADP
fbem-24785	154	24	z	z	NOUN
fbem-24785	154	25	-	-	PUNCT
fbem-24785	154	26	score	score	NOUN
fbem-24785	154	27	,	,	PUNCT
fbem-24785	154	28	which	which	PRON
fbem-24785	154	29	measures	measure	VERB
fbem-24785	154	30	the	the	DET
fbem-24785	154	31	financial	financial	ADJ
fbem-24785	154	32	vulnerability	vulnerability	NOUN
fbem-24785	154	33	of	of	ADP
fbem-24785	154	34	enterprises	enterprise	NOUN
fbem-24785	154	35	,	,	PUNCT
fbem-24785	154	36	is	be	AUX
fbem-24785	154	37	0.204	0.204	NUM
fbem-24785	154	38	,	,	PUNCT
fbem-24785	154	39	while	while	SCONJ
fbem-24785	154	40	the	the	DET
fbem-24785	154	41	maximum	maximum	ADJ
fbem-24785	154	42	value	value	NOUN
fbem-24785	154	43	is	be	AUX
fbem-24785	154	44	37.14	37.14	NUM
fbem-24785	154	45	,	,	PUNCT
fbem-24785	154	46	indicating	indicate	VERB
fbem-24785	154	47	that	that	SCONJ
fbem-24785	154	48	there	there	PRON
fbem-24785	154	49	are	be	VERB
fbem-24785	154	50	great	great	ADJ
fbem-24785	154	51	differences	difference	NOUN
fbem-24785	154	52	in	in	ADP
fbem-24785	154	53	the	the	DET
fbem-24785	154	54	financial	financial	ADJ
fbem-24785	154	55	vulnerability	vulnerability	NOUN
fbem-24785	154	56	of	of	ADP
fbem-24785	154	57	listed	list	VERB
fbem-24785	154	58	enterprises	enterprise	NOUN
fbem-24785	154	59	.	.	PUNCT
fbem-24785	155	1	there	there	PRON
fbem-24785	155	2	are	be	VERB
fbem-24785	155	3	also	also	ADV
fbem-24785	155	4	huge	huge	ADJ
fbem-24785	155	5	differences	difference	NOUN
fbem-24785	155	6	in	in	ADP
fbem-24785	155	7	economic	economic	ADJ
fbem-24785	155	8	policy	policy	NOUN
fbem-24785	155	9	uncertainty	uncertainty	NOUN
fbem-24785	155	10	(	(	PUNCT
fbem-24785	155	11	epu	epu	PROPN
fbem-24785	155	12	)	)	PUNCT
fbem-24785	155	13	,	,	PUNCT
fbem-24785	155	14	and	and	CCONJ
fbem-24785	155	15	economic	economic	ADJ
fbem-24785	155	16	policy	policy	NOUN
fbem-24785	155	17	uncertainty	uncertainty	NOUN
fbem-24785	155	18	represents	represent	VERB
fbem-24785	155	19	the	the	DET
fbem-24785	155	20	degree	degree	NOUN
fbem-24785	155	21	of	of	ADP
fbem-24785	155	22	volatility	volatility	NOUN
fbem-24785	155	23	of	of	ADP
fbem-24785	155	24	the	the	DET
fbem-24785	155	25	macroeconomic	macroeconomic	ADJ
fbem-24785	155	26	environment	environment	NOUN
fbem-24785	155	27	.	.	PUNCT
fbem-24785	156	1	the	the	DET
fbem-24785	156	2	difference	difference	NOUN
fbem-24785	156	3	in	in	ADP
fbem-24785	156	4	this	this	DET
fbem-24785	156	5	indicator	indicator	NOUN
fbem-24785	156	6	indicates	indicate	VERB
fbem-24785	156	7	the	the	DET
fbem-24785	156	8	instability	instability	NOUN
fbem-24785	156	9	of	of	ADP
fbem-24785	156	10	the	the	DET
fbem-24785	156	11	economic	economic	ADJ
fbem-24785	156	12	environment	environment	NOUN
fbem-24785	156	13	,	,	PUNCT
fbem-24785	156	14	that	that	ADV
fbem-24785	156	15	is	is	ADV
fbem-24785	156	16	,	,	PUNCT
fbem-24785	156	17	enterprises	enterprise	NOUN
fbem-24785	156	18	need	need	VERB
fbem-24785	156	19	to	to	PART
fbem-24785	156	20	fully	fully	ADV
fbem-24785	156	21	consider	consider	VERB
fbem-24785	156	22	external	external	ADJ
fbem-24785	156	23	factors	factor	NOUN
fbem-24785	156	24	such	such	ADJ
fbem-24785	156	25	as	as	ADP
fbem-24785	156	26	economic	economic	ADJ
fbem-24785	156	27	policies	policy	NOUN
fbem-24785	156	28	.	.	PUNCT
fbem-24785	157	1	from	from	ADP
fbem-24785	157	2	the	the	DET
fbem-24785	157	3	average	average	ADJ
fbem-24785	157	4	and	and	CCONJ
fbem-24785	157	5	median	median	ADJ
fbem-24785	157	6	values	value	NOUN
fbem-24785	157	7	,	,	PUNCT
fbem-24785	157	8	bank	bank	NOUN
fbem-24785	157	9	loans	loan	NOUN
fbem-24785	157	10	are	be	AUX
fbem-24785	157	11	the	the	DET
fbem-24785	157	12	main	main	ADJ
fbem-24785	157	13	financing	financing	NOUN
fbem-24785	157	14	methods	method	NOUN
fbem-24785	157	15	in	in	ADP
fbem-24785	157	16	china	china	PROPN
fbem-24785	157	17	's	's	PART
fbem-24785	157	18	capital	capital	NOUN
fbem-24785	157	19	market	market	NOUN
fbem-24785	157	20	,	,	PUNCT
fbem-24785	157	21	followed	follow	VERB
fbem-24785	157	22	by	by	ADP
fbem-24785	157	23	credit	credit	NOUN
fbem-24785	157	24	claims	claim	NOUN
fbem-24785	157	25	,	,	PUNCT
fbem-24785	157	26	and	and	CCONJ
fbem-24785	157	27	bond	bond	NOUN
fbem-24785	157	28	claims	claim	NOUN
fbem-24785	157	29	account	account	VERB
fbem-24785	157	30	for	for	ADP
fbem-24785	157	31	the	the	DET
fbem-24785	157	32	smallest	small	ADJ
fbem-24785	157	33	scale	scale	NOUN
fbem-24785	157	34	.	.	PUNCT
fbem-24785	158	1	table	table	NOUN
fbem-24785	158	2	1	1	NUM
fbem-24785	158	3	.	.	PUNCT
fbem-24785	158	4	descriptive	descriptive	ADJ
fbem-24785	158	5	statistics	statistic	NOUN
fbem-24785	158	6	of	of	ADP
fbem-24785	158	7	main	main	ADJ
fbem-24785	158	8	variables	variable	NOUN
fbem-24785	158	9	variabl	variabl	NOUN
fbem-24785	158	10	es	es	PRON
fbem-24785	158	11	observ	observ	NOUN
fbem-24785	158	12	ations	ation	NOUN
fbem-24785	158	13	mean	mean	VERB
fbem-24785	158	14	med	med	PROPN
fbem-24785	158	15	ian	ian	PROPN
fbem-24785	158	16	s.d	s.d	PROPN
fbem-24785	158	17	.	.	PROPN
fbem-24785	159	1	min	min	PROPN
fbem-24785	160	1	max	max	PROPN
fbem-24785	160	2	z	z	PROPN
fbem-24785	160	3	-	-	PUNCT
fbem-24785	160	4	score	score	NOUN
fbem-24785	160	5	12652	12652	NUM
fbem-24785	160	6	4.530	4.530	NUM
fbem-24785	160	7	2.70	2.70	NUM
fbem-24785	160	8	6	6	NUM
fbem-24785	160	9	5.735	5.735	NUM
fbem-24785	160	10	0.20	0.20	NUM
fbem-24785	160	11	4	4	NUM
fbem-24785	160	12	37.14	37.14	NUM
fbem-24785	160	13	epu	epu	NOUN
fbem-24785	160	14	12652	12652	NUM
fbem-24785	160	15	231.3	231.3	NUM
fbem-24785	160	16	170	170	NUM
fbem-24785	160	17	.	.	PUNCT
fbem-24785	160	18	6	6	NUM
fbem-24785	160	19	185.5	185.5	NUM
fbem-24785	160	20	98.8	98.8	NUM
fbem-24785	160	21	9	9	NUM
fbem-24785	160	22	791.9	791.9	NUM
fbem-24785	160	23	creditde	creditde	NOUN
fbem-24785	160	24	bt	bt	PROPN
fbem-24785	160	25	12652	12652	NUM
fbem-24785	160	26	0.126	0.126	NUM
fbem-24785	160	27	0.10	0.10	NUM
fbem-24785	160	28	7	7	NUM
fbem-24785	160	29	0.082	0.082	NUM
fbem-24785	160	30	6	6	NUM
fbem-24785	160	31	0.01	0.01	NUM
fbem-24785	160	32	10	10	NUM
fbem-24785	160	33	0.423	0.423	NUM
fbem-24785	160	34	bankde	bankde	NOUN
fbem-24785	160	35	bt	bt	VERB
fbem-24785	160	36	12652	12652	NUM
fbem-24785	160	37	0.160	0.160	NUM
fbem-24785	160	38	0.14	0.14	NUM
fbem-24785	160	39	1	1	NUM
fbem-24785	160	40	0.136	0.136	NUM
fbem-24785	160	41	0	0	NUM
fbem-24785	160	42	0.550	0.550	NUM
fbem-24785	160	43	bondde	bondde	VERB
fbem-24785	160	44	bt	bt	PROPN
fbem-24785	160	45	12652	12652	NUM
fbem-24785	160	46	0.028	0.028	NUM
fbem-24785	160	47	6	6	NUM
fbem-24785	160	48	0	0	NUM
fbem-24785	160	49	0.048	0.048	NUM
fbem-24785	160	50	0	0	NUM
fbem-24785	160	51	0	0	NUM
fbem-24785	160	52	0.197	0.197	NUM
fbem-24785	160	53	410	410	NUM
fbem-24785	160	54	4.2	4.2	NUM
fbem-24785	160	55	.	.	PUNCT
fbem-24785	161	1	multiple	multiple	ADJ
fbem-24785	161	2	regression	regression	NOUN
fbem-24785	161	3	analysis	analysis	NOUN
fbem-24785	161	4	4.2.1	4.2.1	NUM
fbem-24785	161	5	.	.	PUNCT
fbem-24785	162	1	the	the	DET
fbem-24785	162	2	impact	impact	NOUN
fbem-24785	162	3	of	of	ADP
fbem-24785	162	4	economic	economic	ADJ
fbem-24785	162	5	policy	policy	NOUN
fbem-24785	162	6	uncertainty	uncertainty	NOUN
fbem-24785	162	7	on	on	ADP
fbem-24785	162	8	financial	financial	ADJ
fbem-24785	162	9	vulnerability	vulnerability	NOUN
fbem-24785	162	10	the	the	DET
fbem-24785	162	11	multiple	multiple	ADJ
fbem-24785	162	12	regression	regression	NOUN
fbem-24785	162	13	of	of	ADP
fbem-24785	162	14	panel	panel	NOUN
fbem-24785	162	15	data	datum	NOUN
fbem-24785	162	16	is	be	AUX
fbem-24785	162	17	shown	show	VERB
fbem-24785	162	18	in	in	ADP
fbem-24785	162	19	table	table	NOUN
fbem-24785	162	20	2	2	NUM
fbem-24785	162	21	,	,	PUNCT
fbem-24785	162	22	column	column	NOUN
fbem-24785	162	23	(	(	PUNCT
fbem-24785	162	24	1	1	X
fbem-24785	162	25	)	)	PUNCT
fbem-24785	162	26	results	result	NOUN
fbem-24785	162	27	show	show	VERB
fbem-24785	162	28	that	that	SCONJ
fbem-24785	162	29	the	the	DET
fbem-24785	162	30	epu	epu	PROPN
fbem-24785	162	31	coefficient	coefficient	NOUN
fbem-24785	162	32	is-0.002	is-0.002	NOUN
fbem-24785	162	33	after	after	ADP
fbem-24785	162	34	taking	take	VERB
fbem-24785	162	35	into	into	ADP
fbem-24785	162	36	account	account	NOUN
fbem-24785	162	37	the	the	DET
fbem-24785	162	38	dummy	dummy	ADJ
fbem-24785	162	39	variables	variable	NOUN
fbem-24785	162	40	of	of	ADP
fbem-24785	162	41	industry	industry	NOUN
fbem-24785	162	42	and	and	CCONJ
fbem-24785	162	43	year	year	NOUN
fbem-24785	162	44	,	,	PUNCT
fbem-24785	162	45	which	which	PRON
fbem-24785	162	46	is	be	AUX
fbem-24785	162	47	significant	significant	ADJ
fbem-24785	162	48	at	at	ADP
fbem-24785	162	49	the	the	DET
fbem-24785	162	50	1	1	NUM
fbem-24785	162	51	%	%	NOUN
fbem-24785	162	52	level	level	NOUN
fbem-24785	162	53	.	.	PUNCT
fbem-24785	163	1	it	it	PRON
fbem-24785	163	2	is	be	AUX
fbem-24785	163	3	preliminarily	preliminarily	ADV
fbem-24785	163	4	shown	show	VERB
fbem-24785	163	5	that	that	SCONJ
fbem-24785	163	6	there	there	PRON
fbem-24785	163	7	is	be	VERB
fbem-24785	163	8	a	a	DET
fbem-24785	163	9	significant	significant	ADJ
fbem-24785	163	10	negative	negative	ADJ
fbem-24785	163	11	correlation	correlation	NOUN
fbem-24785	163	12	between	between	ADP
fbem-24785	163	13	economic	economic	ADJ
fbem-24785	163	14	policy	policy	NOUN
fbem-24785	163	15	uncertainty	uncertainty	NOUN
fbem-24785	163	16	and	and	CCONJ
fbem-24785	163	17	z	z	NOUN
fbem-24785	163	18	-	-	PUNCT
fbem-24785	163	19	score	score	NOUN
fbem-24785	163	20	.	.	PUNCT
fbem-24785	164	1	the	the	PRON
fbem-24785	164	2	higher	high	ADJ
fbem-24785	164	3	the	the	DET
fbem-24785	164	4	value	value	NOUN
fbem-24785	164	5	of	of	ADP
fbem-24785	164	6	the	the	DET
fbem-24785	164	7	explained	explain	VERB
fbem-24785	164	8	variable	variable	ADJ
fbem-24785	164	9	z	z	NOUN
fbem-24785	164	10	-	-	PUNCT
fbem-24785	164	11	score	score	NOUN
fbem-24785	164	12	,	,	PUNCT
fbem-24785	164	13	the	the	PRON
fbem-24785	164	14	lower	low	ADJ
fbem-24785	164	15	the	the	DET
fbem-24785	164	16	financial	financial	ADJ
fbem-24785	164	17	vulnerability	vulnerability	NOUN
fbem-24785	164	18	of	of	ADP
fbem-24785	164	19	the	the	DET
fbem-24785	164	20	enterprise	enterprise	NOUN
fbem-24785	164	21	,	,	PUNCT
fbem-24785	164	22	that	that	ADV
fbem-24785	164	23	is	is	ADV
fbem-24785	164	24	,	,	PUNCT
fbem-24785	164	25	the	the	DET
fbem-24785	164	26	increase	increase	NOUN
fbem-24785	164	27	of	of	ADP
fbem-24785	164	28	economic	economic	ADJ
fbem-24785	164	29	policy	policy	NOUN
fbem-24785	164	30	uncertainty	uncertainty	NOUN
fbem-24785	164	31	will	will	AUX
fbem-24785	164	32	significantly	significantly	ADV
fbem-24785	164	33	aggravate	aggravate	VERB
fbem-24785	164	34	the	the	DET
fbem-24785	164	35	financial	financial	ADJ
fbem-24785	164	36	vulnerability	vulnerability	NOUN
fbem-24785	164	37	of	of	ADP
fbem-24785	164	38	the	the	DET
fbem-24785	164	39	enterprise	enterprise	NOUN
fbem-24785	164	40	.	.	PUNCT
fbem-24785	165	1	column	column	NOUN
fbem-24785	165	2	(	(	PUNCT
fbem-24785	165	3	2	2	X
fbem-24785	165	4	)	)	PUNCT
fbem-24785	165	5	adds	add	VERB
fbem-24785	165	6	variables	variable	NOUN
fbem-24785	165	7	at	at	ADP
fbem-24785	165	8	the	the	DET
fbem-24785	165	9	enterprise	enterprise	NOUN
fbem-24785	165	10	level	level	NOUN
fbem-24785	165	11	as	as	ADP
fbem-24785	165	12	control	control	NOUN
fbem-24785	165	13	variables	variable	NOUN
fbem-24785	165	14	.	.	PUNCT
fbem-24785	166	1	the	the	DET
fbem-24785	166	2	results	result	NOUN
fbem-24785	166	3	of	of	ADP
fbem-24785	166	4	the	the	DET
fbem-24785	166	5	second	second	ADJ
fbem-24785	166	6	column	column	NOUN
fbem-24785	166	7	show	show	VERB
fbem-24785	166	8	that	that	SCONJ
fbem-24785	166	9	the	the	DET
fbem-24785	166	10	coefficient	coefficient	NOUN
fbem-24785	166	11	of	of	ADP
fbem-24785	166	12	epu	epu	PROPN
fbem-24785	166	13	is	be	AUX
fbem-24785	166	14	−	−	PROPN
fbem-24785	166	15	0.001	0.001	NUM
fbem-24785	166	16	,	,	PUNCT
fbem-24785	166	17	which	which	PRON
fbem-24785	166	18	is	be	AUX
fbem-24785	166	19	significant	significant	ADJ
fbem-24785	166	20	at	at	ADP
fbem-24785	166	21	the	the	DET
fbem-24785	166	22	1	1	NUM
fbem-24785	166	23	%	%	NOUN
fbem-24785	166	24	level	level	NOUN
fbem-24785	166	25	,	,	PUNCT
fbem-24785	166	26	further	far	ADV
fbem-24785	166	27	indicating	indicate	VERB
fbem-24785	166	28	that	that	SCONJ
fbem-24785	166	29	economic	economic	ADJ
fbem-24785	166	30	policy	policy	NOUN
fbem-24785	166	31	uncertainty	uncertainty	NOUN
fbem-24785	166	32	and	and	CCONJ
fbem-24785	166	33	corporate	corporate	ADJ
fbem-24785	166	34	financial	financial	ADJ
fbem-24785	166	35	vulnerability	vulnerability	NOUN
fbem-24785	166	36	show	show	VERB
fbem-24785	166	37	a	a	DET
fbem-24785	166	38	negative	negative	ADJ
fbem-24785	166	39	relationship	relationship	NOUN
fbem-24785	166	40	.	.	PUNCT
fbem-24785	167	1	table	table	NOUN
fbem-24785	167	2	2	2	NUM
fbem-24785	167	3	.	.	PUNCT
fbem-24785	168	1	regression	regression	NOUN
fbem-24785	168	2	result	result	NOUN
fbem-24785	168	3	variables	variable	NOUN
fbem-24785	168	4	(	(	PUNCT
fbem-24785	168	5	1	1	NUM
fbem-24785	168	6	)	)	PUNCT
fbem-24785	168	7	(	(	PUNCT
fbem-24785	168	8	2	2	X
fbem-24785	168	9	)	)	PUNCT
fbem-24785	168	10	z	z	NOUN
fbem-24785	168	11	-	-	PUNCT
fbem-24785	168	12	score	score	NOUN
fbem-24785	168	13	z	z	NOUN
fbem-24785	168	14	-	-	PUNCT
fbem-24785	168	15	score	score	NOUN
fbem-24785	168	16	epu	epu	NOUN
fbem-24785	168	17	-0.002	-0.002	PUNCT
fbem-24785	168	18	*	*	PUNCT
fbem-24785	168	19	*	*	PUNCT
fbem-24785	168	20	*	*	PUNCT
fbem-24785	168	21	-0.001	-0.001	PUNCT
fbem-24785	169	1	*	*	PUNCT
fbem-24785	169	2	*	*	PUNCT
fbem-24785	169	3	*	*	PUNCT
fbem-24785	169	4	(	(	PUNCT
fbem-24785	169	5	-9.50	-9.50	NOUN
fbem-24785	169	6	)	)	PUNCT
fbem-24785	169	7	(	(	PUNCT
fbem-24785	169	8	-6.65	-6.65	NUM
fbem-24785	169	9	)	)	PUNCT
fbem-24785	169	10	controls	control	VERB
fbem-24785	170	1	yes	yes	INTJ
fbem-24785	170	2	yes	yes	INTJ
fbem-24785	170	3	constant	constant	ADJ
fbem-24785	170	4	4.542	4.542	NUM
fbem-24785	170	5	*	*	NOUN
fbem-24785	170	6	*	*	PUNCT
fbem-24785	171	1	*	*	PUNCT
fbem-24785	172	1	-6.551	-6.551	PUNCT
fbem-24785	172	2	*	*	PUNCT
fbem-24785	172	3	*	*	PUNCT
fbem-24785	172	4	*	*	PUNCT
fbem-24785	172	5	(	(	PUNCT
fbem-24785	172	6	10.42	10.42	NUM
fbem-24785	172	7	)	)	PUNCT
fbem-24785	172	8	(	(	PUNCT
fbem-24785	172	9	-8.61	-8.61	NOUN
fbem-24785	172	10	)	)	PUNCT
fbem-24785	172	11	observations	observation	NOUN
fbem-24785	172	12	12,652	12,652	NUM
fbem-24785	172	13	12,652	12,652	NUM
fbem-24785	172	14	r	r	NOUN
fbem-24785	172	15	-	-	PUNCT
fbem-24785	172	16	squared	square	VERB
fbem-24785	172	17	0.151	0.151	NUM
fbem-24785	172	18	0.691	0.691	NUM
fbem-24785	172	19	ind	ind	NOUN
fbem-24785	173	1	yes	yes	INTJ
fbem-24785	174	1	yes	yes	INTJ
fbem-24785	174	2	year	year	NOUN
fbem-24785	175	1	yes	yes	INTJ
fbem-24785	175	2	yes	yes	INTJ
fbem-24785	175	3	note	note	VERB
fbem-24785	175	4	:	:	PUNCT
fbem-24785	175	5	the	the	DET
fbem-24785	175	6	t	t	NOUN
fbem-24785	175	7	value	value	NOUN
fbem-24785	175	8	is	be	AUX
fbem-24785	175	9	in	in	ADP
fbem-24785	175	10	parentheses	parenthesis	NOUN
fbem-24785	175	11	,	,	PUNCT
fbem-24785	175	12	and	and	CCONJ
fbem-24785	175	13	*	*	PUNCT
fbem-24785	175	14	*	*	PUNCT
fbem-24785	176	1	*	*	PUNCT
fbem-24785	176	2	,	,	PUNCT
fbem-24785	176	3	*	*	PUNCT
fbem-24785	176	4	*	*	PUNCT
fbem-24785	176	5	,	,	PUNCT
fbem-24785	176	6	*	*	PUNCT
fbem-24785	176	7	are	be	AUX
fbem-24785	176	8	significant	significant	ADJ
fbem-24785	176	9	at	at	ADP
fbem-24785	176	10	1	1	NUM
fbem-24785	176	11	%	%	NOUN
fbem-24785	176	12	,	,	PUNCT
fbem-24785	176	13	5	5	NUM
fbem-24785	176	14	%	%	NOUN
fbem-24785	176	15	,	,	PUNCT
fbem-24785	176	16	and	and	CCONJ
fbem-24785	176	17	10	10	NUM
fbem-24785	176	18	%	%	NOUN
fbem-24785	176	19	,	,	PUNCT
fbem-24785	176	20	respectively	respectively	ADV
fbem-24785	176	21	.	.	PUNCT
fbem-24785	177	1	4.2.2	4.2.2	X
fbem-24785	177	2	.	.	PUNCT
fbem-24785	177	3	economic	economic	ADJ
fbem-24785	177	4	policy	policy	NOUN
fbem-24785	177	5	uncertainty	uncertainty	NOUN
fbem-24785	177	6	,	,	PUNCT
fbem-24785	177	7	financing	financing	NOUN
fbem-24785	177	8	model	model	NOUN
fbem-24785	177	9	and	and	CCONJ
fbem-24785	177	10	corporate	corporate	ADJ
fbem-24785	177	11	financial	financial	ADJ
fbem-24785	177	12	vulnerability	vulnerability	NOUN
fbem-24785	177	13	the	the	DET
fbem-24785	177	14	data	datum	NOUN
fbem-24785	177	15	in	in	ADP
fbem-24785	177	16	table	table	NOUN
fbem-24785	177	17	3	3	NUM
fbem-24785	177	18	show	show	VERB
fbem-24785	177	19	that	that	PRON
fbem-24785	177	20	column	column	NOUN
fbem-24785	177	21	(	(	PUNCT
fbem-24785	177	22	1	1	X
fbem-24785	177	23	)	)	PUNCT
fbem-24785	177	24	is	be	AUX
fbem-24785	177	25	the	the	DET
fbem-24785	177	26	regression	regression	NOUN
fbem-24785	177	27	result	result	NOUN
fbem-24785	177	28	of	of	ADP
fbem-24785	177	29	credit	credit	NOUN
fbem-24785	177	30	debt	debt	NOUN
fbem-24785	177	31	.	.	PUNCT
fbem-24785	178	1	among	among	ADP
fbem-24785	178	2	them	they	PRON
fbem-24785	178	3	,	,	PUNCT
fbem-24785	178	4	the	the	DET
fbem-24785	178	5	coefficient	coefficient	NOUN
fbem-24785	178	6	of	of	ADP
fbem-24785	178	7	the	the	DET
fbem-24785	178	8	cross	cross	ADJ
fbem-24785	178	9	term	term	NOUN
fbem-24785	178	10	of	of	ADP
fbem-24785	178	11	credit	credit	NOUN
fbem-24785	178	12	debt	debt	NOUN
fbem-24785	178	13	and	and	CCONJ
fbem-24785	178	14	economic	economic	ADJ
fbem-24785	178	15	policy	policy	NOUN
fbem-24785	178	16	uncertainty	uncertainty	NOUN
fbem-24785	178	17	is	be	AUX
fbem-24785	178	18	0.025	0.025	NUM
fbem-24785	178	19	,	,	PUNCT
fbem-24785	178	20	which	which	PRON
fbem-24785	178	21	is	be	AUX
fbem-24785	178	22	significant	significant	ADJ
fbem-24785	178	23	at	at	ADP
fbem-24785	178	24	the	the	DET
fbem-24785	178	25	1	1	NUM
fbem-24785	178	26	%	%	NOUN
fbem-24785	178	27	level	level	NOUN
fbem-24785	178	28	,	,	PUNCT
fbem-24785	178	29	that	that	ADV
fbem-24785	178	30	is	is	ADV
fbem-24785	178	31	,	,	PUNCT
fbem-24785	178	32	credit	credit	NOUN
fbem-24785	178	33	debt	debt	NOUN
fbem-24785	178	34	can	can	AUX
fbem-24785	178	35	alleviate	alleviate	VERB
fbem-24785	178	36	the	the	DET
fbem-24785	178	37	impact	impact	NOUN
fbem-24785	178	38	of	of	ADP
fbem-24785	178	39	economic	economic	ADJ
fbem-24785	178	40	policy	policy	NOUN
fbem-24785	178	41	uncertainty	uncertainty	NOUN
fbem-24785	178	42	on	on	ADP
fbem-24785	178	43	corporate	corporate	ADJ
fbem-24785	178	44	financial	financial	ADJ
fbem-24785	178	45	vulnerability	vulnerability	NOUN
fbem-24785	178	46	.	.	PUNCT
fbem-24785	179	1	column	column	NOUN
fbem-24785	179	2	(	(	PUNCT
fbem-24785	179	3	2	2	X
fbem-24785	179	4	)	)	PUNCT
fbem-24785	179	5	is	be	AUX
fbem-24785	179	6	the	the	DET
fbem-24785	179	7	regression	regression	NOUN
fbem-24785	179	8	result	result	NOUN
fbem-24785	179	9	of	of	ADP
fbem-24785	179	10	the	the	DET
fbem-24785	179	11	cross	cross	ADJ
fbem-24785	179	12	term	term	NOUN
fbem-24785	179	13	of	of	ADP
fbem-24785	179	14	bank	bank	NOUN
fbem-24785	179	15	loan	loan	NOUN
fbem-24785	179	16	and	and	CCONJ
fbem-24785	179	17	economic	economic	ADJ
fbem-24785	179	18	policy	policy	NOUN
fbem-24785	179	19	uncertainty	uncertainty	NOUN
fbem-24785	179	20	.	.	PUNCT
fbem-24785	180	1	the	the	DET
fbem-24785	180	2	coefficient	coefficient	NOUN
fbem-24785	180	3	of	of	ADP
fbem-24785	180	4	the	the	DET
fbem-24785	180	5	cross	cross	NOUN
fbem-24785	180	6	term	term	NOUN
fbem-24785	180	7	is	be	AUX
fbem-24785	180	8	0.011	0.011	NUM
fbem-24785	180	9	,	,	PUNCT
fbem-24785	180	10	which	which	PRON
fbem-24785	180	11	is	be	AUX
fbem-24785	180	12	significant	significant	ADJ
fbem-24785	180	13	at	at	ADP
fbem-24785	180	14	the	the	DET
fbem-24785	180	15	level	level	NOUN
fbem-24785	180	16	of	of	ADP
fbem-24785	180	17	1	1	NUM
fbem-24785	180	18	%	%	NOUN
fbem-24785	180	19	.	.	PUNCT
fbem-24785	181	1	column	column	NOUN
fbem-24785	181	2	(	(	PUNCT
fbem-24785	181	3	3	3	X
fbem-24785	181	4	)	)	PUNCT
fbem-24785	181	5	is	be	AUX
fbem-24785	181	6	the	the	DET
fbem-24785	181	7	regression	regression	NOUN
fbem-24785	181	8	result	result	NOUN
fbem-24785	181	9	of	of	ADP
fbem-24785	181	10	the	the	DET
fbem-24785	181	11	cross	cross	ADJ
fbem-24785	181	12	term	term	NOUN
fbem-24785	181	13	of	of	ADP
fbem-24785	181	14	bond	bond	NOUN
fbem-24785	181	15	claims	claim	NOUN
fbem-24785	181	16	and	and	CCONJ
fbem-24785	181	17	economic	economic	ADJ
fbem-24785	181	18	policy	policy	NOUN
fbem-24785	181	19	uncertainty	uncertainty	NOUN
fbem-24785	181	20	.	.	PUNCT
fbem-24785	182	1	the	the	DET
fbem-24785	182	2	coefficient	coefficient	NOUN
fbem-24785	182	3	of	of	ADP
fbem-24785	182	4	the	the	DET
fbem-24785	182	5	cross	cross	NOUN
fbem-24785	182	6	term	term	NOUN
fbem-24785	182	7	is	be	AUX
fbem-24785	182	8	0.002	0.002	NUM
fbem-24785	182	9	,	,	PUNCT
fbem-24785	182	10	but	but	CCONJ
fbem-24785	182	11	not	not	PART
fbem-24785	182	12	significant	significant	ADJ
fbem-24785	182	13	.	.	PUNCT
fbem-24785	183	1	it	it	PRON
fbem-24785	183	2	can	can	AUX
fbem-24785	183	3	be	be	AUX
fbem-24785	183	4	seen	see	VERB
fbem-24785	183	5	that	that	SCONJ
fbem-24785	183	6	the	the	DET
fbem-24785	183	7	hypothesis	hypothesis	NOUN
fbem-24785	183	8	h2	h2	PROPN
fbem-24785	183	9	-	-	PUNCT
fbem-24785	183	10	h4	h4	PROPN
fbem-24785	183	11	holds	hold	NOUN
fbem-24785	183	12	.	.	PUNCT
fbem-24785	184	1	when	when	SCONJ
fbem-24785	184	2	enterprises	enterprise	NOUN
fbem-24785	184	3	face	face	VERB
fbem-24785	184	4	external	external	ADJ
fbem-24785	184	5	shocks	shock	NOUN
fbem-24785	184	6	,	,	PUNCT
fbem-24785	184	7	the	the	DET
fbem-24785	184	8	financing	financing	NOUN
fbem-24785	184	9	model	model	NOUN
fbem-24785	184	10	of	of	ADP
fbem-24785	184	11	enterprises	enterprise	NOUN
fbem-24785	184	12	plays	play	VERB
fbem-24785	184	13	a	a	DET
fbem-24785	184	14	very	very	ADV
fbem-24785	184	15	important	important	ADJ
fbem-24785	184	16	role	role	NOUN
fbem-24785	184	17	in	in	ADP
fbem-24785	184	18	regulating	regulate	VERB
fbem-24785	184	19	enterprises	enterprise	NOUN
fbem-24785	184	20	.	.	PUNCT
fbem-24785	185	1	when	when	SCONJ
fbem-24785	185	2	the	the	DET
fbem-24785	185	3	uncertainty	uncertainty	NOUN
fbem-24785	185	4	of	of	ADP
fbem-24785	185	5	economic	economic	ADJ
fbem-24785	185	6	policy	policy	NOUN
fbem-24785	185	7	increases	increase	NOUN
fbem-24785	185	8	,	,	PUNCT
fbem-24785	185	9	enterprises	enterprise	NOUN
fbem-24785	185	10	rely	rely	VERB
fbem-24785	185	11	on	on	ADP
fbem-24785	185	12	different	different	ADJ
fbem-24785	185	13	financing	financing	NOUN
fbem-24785	185	14	models	model	NOUN
fbem-24785	185	15	,	,	PUNCT
fbem-24785	185	16	through	through	ADP
fbem-24785	185	17	different	different	ADJ
fbem-24785	185	18	financing	financing	NOUN
fbem-24785	185	19	channels	channel	NOUN
fbem-24785	185	20	,	,	PUNCT
fbem-24785	185	21	can	can	AUX
fbem-24785	185	22	more	more	ADV
fbem-24785	185	23	easily	easily	ADV
fbem-24785	185	24	obtain	obtain	VERB
fbem-24785	185	25	external	external	ADJ
fbem-24785	185	26	resources	resource	NOUN
fbem-24785	185	27	,	,	PUNCT
fbem-24785	185	28	quickly	quickly	ADV
fbem-24785	185	29	make	make	VERB
fbem-24785	185	30	relatively	relatively	ADV
fbem-24785	185	31	sound	sound	ADJ
fbem-24785	185	32	strategic	strategic	ADJ
fbem-24785	185	33	decisions	decision	NOUN
fbem-24785	185	34	,	,	PUNCT
fbem-24785	185	35	and	and	CCONJ
fbem-24785	185	36	then	then	ADV
fbem-24785	185	37	help	help	VERB
fbem-24785	185	38	enterprises	enterprise	NOUN
fbem-24785	185	39	achieve	achieve	VERB
fbem-24785	185	40	long	long	ADJ
fbem-24785	185	41	-	-	PUNCT
fbem-24785	185	42	term	term	NOUN
fbem-24785	185	43	and	and	CCONJ
fbem-24785	185	44	stable	stable	ADJ
fbem-24785	185	45	development	development	NOUN
fbem-24785	185	46	;	;	PUNCT
fbem-24785	185	47	integrate	integrate	VERB
fbem-24785	185	48	and	and	CCONJ
fbem-24785	185	49	improve	improve	VERB
fbem-24785	185	50	the	the	DET
fbem-24785	185	51	internal	internal	ADJ
fbem-24785	185	52	resources	resource	NOUN
fbem-24785	185	53	of	of	ADP
fbem-24785	185	54	the	the	DET
fbem-24785	185	55	enterprise	enterprise	NOUN
fbem-24785	185	56	through	through	ADP
fbem-24785	185	57	its	its	PRON
fbem-24785	185	58	own	own	ADJ
fbem-24785	185	59	professional	professional	ADJ
fbem-24785	185	60	skills	skill	NOUN
fbem-24785	185	61	to	to	PART
fbem-24785	185	62	ensure	ensure	VERB
fbem-24785	185	63	the	the	DET
fbem-24785	185	64	future	future	ADJ
fbem-24785	185	65	development	development	NOUN
fbem-24785	185	66	of	of	ADP
fbem-24785	185	67	the	the	DET
fbem-24785	185	68	enterprise	enterprise	NOUN
fbem-24785	185	69	.	.	PUNCT
fbem-24785	186	1	table	table	NOUN
fbem-24785	186	2	3	3	NUM
fbem-24785	186	3	.	.	PUNCT
fbem-24785	187	1	the	the	DET
fbem-24785	187	2	moderating	moderate	VERB
fbem-24785	187	3	effect	effect	NOUN
fbem-24785	187	4	of	of	ADP
fbem-24785	187	5	financing	finance	VERB
fbem-24785	187	6	mode	mode	NOUN
fbem-24785	187	7	variables	variable	NOUN
fbem-24785	187	8	(	(	PUNCT
fbem-24785	187	9	1	1	NUM
fbem-24785	187	10	)	)	PUNCT
fbem-24785	187	11	(	(	PUNCT
fbem-24785	187	12	2	2	NUM
fbem-24785	187	13	)	)	PUNCT
fbem-24785	187	14	(	(	PUNCT
fbem-24785	187	15	3	3	X
fbem-24785	187	16	)	)	PUNCT
fbem-24785	187	17	z	z	NOUN
fbem-24785	187	18	-	-	PUNCT
fbem-24785	187	19	score	score	NOUN
fbem-24785	187	20	z	z	NOUN
fbem-24785	187	21	-	-	PUNCT
fbem-24785	187	22	score	score	NOUN
fbem-24785	187	23	z	z	NOUN
fbem-24785	187	24	-	-	PUNCT
fbem-24785	187	25	score	score	NOUN
fbem-24785	187	26	epu	epu	NOUN
fbem-24785	187	27	-0.004	-0.004	PUNCT
fbem-24785	187	28	*	*	PUNCT
fbem-24785	187	29	*	*	PUNCT
fbem-24785	187	30	*	*	PUNCT
fbem-24785	187	31	-0.003	-0.003	PUNCT
fbem-24785	187	32	*	*	PUNCT
fbem-24785	187	33	*	*	PUNCT
fbem-24785	187	34	*	*	PUNCT
fbem-24785	187	35	-0.001	-0.001	PUNCT
fbem-24785	188	1	*	*	PUNCT
fbem-24785	188	2	*	*	PUNCT
fbem-24785	188	3	*	*	PUNCT
fbem-24785	188	4	(	(	PUNCT
fbem-24785	188	5	-13.34	-13.34	PROPN
fbem-24785	188	6	)	)	PUNCT
fbem-24785	188	7	(	(	PUNCT
fbem-24785	188	8	-11.31	-11.31	PROPN
fbem-24785	188	9	)	)	PUNCT
fbem-24785	188	10	(	(	PUNCT
fbem-24785	188	11	-5.65	-5.65	X
fbem-24785	188	12	)	)	PUNCT
fbem-24785	188	13	creditdebt	creditdebt	NOUN
fbem-24785	188	14	-10.505	-10.505	PROPN
fbem-24785	188	15	*	*	PUNCT
fbem-24785	188	16	*	*	PUNCT
fbem-24785	188	17	*	*	PUNCT
fbem-24785	188	18	(	(	PUNCT
fbem-24785	188	19	-15.43	-15.43	NOUN
fbem-24785	188	20	)	)	PUNCT
fbem-24785	188	21	creditdebt×epu	creditdebt×epu	NOUN
fbem-24785	189	1	0.025	0.025	NUM
fbem-24785	189	2	*	*	PUNCT
fbem-24785	189	3	*	*	PUNCT
fbem-24785	189	4	*	*	PUNCT
fbem-24785	189	5	(	(	PUNCT
fbem-24785	189	6	12.65	12.65	NUM
fbem-24785	189	7	)	)	PUNCT
fbem-24785	189	8	bankdebt	bankdebt	NOUN
fbem-24785	189	9	7.337	7.337	NUM
fbem-24785	189	10	*	*	PUNCT
fbem-24785	189	11	*	*	PUNCT
fbem-24785	189	12	*	*	PUNCT
fbem-24785	189	13	(	(	PUNCT
fbem-24785	189	14	2.89	2.89	NUM
fbem-24785	189	15	)	)	PUNCT
fbem-24785	189	16	bankdebt×epu	bankdebt×epu	X
fbem-24785	190	1	0.011	0.011	NUM
fbem-24785	190	2	*	*	PUNCT
fbem-24785	190	3	*	*	PUNCT
fbem-24785	190	4	*	*	PUNCT
fbem-24785	190	5	(	(	PUNCT
fbem-24785	190	6	11.25	11.25	NUM
fbem-24785	190	7	)	)	PUNCT
fbem-24785	190	8	bonddebt	bonddebt	ADJ
fbem-24785	190	9	-1.399	-1.399	NOUN
fbem-24785	190	10	*	*	PUNCT
fbem-24785	190	11	*	*	PUNCT
fbem-24785	190	12	(	(	PUNCT
fbem-24785	190	13	-1.98	-1.98	NOUN
fbem-24785	190	14	)	)	PUNCT
fbem-24785	190	15	bonddebt×epu	bonddebt×epu	ADP
fbem-24785	190	16	0.002	0.002	NUM
fbem-24785	190	17	(	(	PUNCT
fbem-24785	190	18	0.80	0.80	NUM
fbem-24785	190	19	)	)	PUNCT
fbem-24785	190	20	controls	control	NOUN
fbem-24785	190	21	yes	yes	INTJ
fbem-24785	190	22	yes	yes	INTJ
fbem-24785	190	23	yes	yes	INTJ
fbem-24785	190	24	constant	constant	ADJ
fbem-24785	190	25	-4.583	-4.583	NOUN
fbem-24785	190	26	*	*	PUNCT
fbem-24785	190	27	*	*	PUNCT
fbem-24785	190	28	*	*	PUNCT
fbem-24785	190	29	-6.342	-6.342	PUNCT
fbem-24785	190	30	*	*	PUNCT
fbem-24785	190	31	*	*	PUNCT
fbem-24785	190	32	*	*	PUNCT
fbem-24785	190	33	-6.666	-6.666	NOUN
fbem-24785	191	1	*	*	PUNCT
fbem-24785	191	2	*	*	PUNCT
fbem-24785	191	3	*	*	PUNCT
fbem-24785	191	4	(	(	PUNCT
fbem-24785	191	5	-5.97	-5.97	NOUN
fbem-24785	191	6	)	)	PUNCT
fbem-24785	191	7	(	(	PUNCT
fbem-24785	191	8	-8.35	-8.35	NOUN
fbem-24785	191	9	)	)	PUNCT
fbem-24785	191	10	(	(	PUNCT
fbem-24785	191	11	-8.68	-8.68	NOUN
fbem-24785	191	12	)	)	PUNCT
fbem-24785	191	13	observations	observation	NOUN
fbem-24785	191	14	12,652	12,652	NUM
fbem-24785	191	15	12,652	12,652	NUM
fbem-24785	191	16	12,652	12,652	NUM
fbem-24785	191	17	r	r	NOUN
fbem-24785	191	18	-	-	PUNCT
fbem-24785	191	19	squared	square	VERB
fbem-24785	191	20	0.696	0.696	NUM
fbem-24785	191	21	0.693	0.693	NUM
fbem-24785	191	22	0.691	0.691	NUM
fbem-24785	191	23	ind	ind	NOUN
fbem-24785	192	1	yes	yes	INTJ
fbem-24785	193	1	yes	yes	INTJ
fbem-24785	194	1	yes	yes	INTJ
fbem-24785	194	2	year	year	NOUN
fbem-24785	195	1	yes	yes	INTJ
fbem-24785	196	1	yes	yes	INTJ
fbem-24785	196	2	yes	yes	INTJ
fbem-24785	196	3	note	note	VERB
fbem-24785	196	4	:	:	PUNCT
fbem-24785	196	5	the	the	DET
fbem-24785	196	6	t	t	NOUN
fbem-24785	196	7	value	value	NOUN
fbem-24785	196	8	is	be	AUX
fbem-24785	196	9	in	in	ADP
fbem-24785	196	10	parentheses	parenthesis	NOUN
fbem-24785	196	11	,	,	PUNCT
fbem-24785	196	12	and	and	CCONJ
fbem-24785	196	13	*	*	PUNCT
fbem-24785	196	14	*	*	PUNCT
fbem-24785	197	1	*	*	PUNCT
fbem-24785	197	2	,	,	PUNCT
fbem-24785	197	3	*	*	PUNCT
fbem-24785	197	4	*	*	PUNCT
fbem-24785	197	5	,	,	PUNCT
fbem-24785	197	6	*	*	PUNCT
fbem-24785	197	7	are	be	AUX
fbem-24785	197	8	significant	significant	ADJ
fbem-24785	197	9	at	at	ADP
fbem-24785	197	10	1	1	NUM
fbem-24785	197	11	%	%	NOUN
fbem-24785	197	12	,	,	PUNCT
fbem-24785	197	13	5	5	NUM
fbem-24785	197	14	%	%	NOUN
fbem-24785	197	15	,	,	PUNCT
fbem-24785	197	16	and	and	CCONJ
fbem-24785	197	17	10	10	NUM
fbem-24785	197	18	%	%	NOUN
fbem-24785	197	19	,	,	PUNCT
fbem-24785	197	20	respectively	respectively	ADV
fbem-24785	197	21	.	.	PUNCT
fbem-24785	198	1	5	5	X
fbem-24785	198	2	.	.	X
fbem-24785	198	3	stability	stability	NOUN
fbem-24785	198	4	test	test	NOUN
fbem-24785	198	5	firstly	firstly	ADV
fbem-24785	198	6	,	,	PUNCT
fbem-24785	198	7	the	the	DET
fbem-24785	198	8	geometric	geometric	ADJ
fbem-24785	198	9	mean	mean	NOUN
fbem-24785	198	10	is	be	AUX
fbem-24785	198	11	used	use	VERB
fbem-24785	198	12	to	to	PART
fbem-24785	198	13	construct	construct	VERB
fbem-24785	198	14	the	the	DET
fbem-24785	198	15	economic	economic	ADJ
fbem-24785	198	16	policy	policy	NOUN
fbem-24785	198	17	uncertainty	uncertainty	NOUN
fbem-24785	198	18	index	index	NOUN
fbem-24785	198	19	.	.	PUNCT
fbem-24785	199	1	secondly	secondly	ADV
fbem-24785	199	2	,	,	PUNCT
fbem-24785	199	3	due	due	ADP
fbem-24785	199	4	to	to	ADP
fbem-24785	199	5	the	the	DET
fbem-24785	199	6	outbreak	outbreak	NOUN
fbem-24785	199	7	of	of	ADP
fbem-24785	199	8	the	the	DET
fbem-24785	199	9	new	new	ADJ
fbem-24785	199	10	coronavirus	coronavirus	NOUN
fbem-24785	199	11	epidemic	epidemic	NOUN
fbem-24785	199	12	in	in	ADP
fbem-24785	199	13	2019	2019	NUM
fbem-24785	199	14	,	,	PUNCT
fbem-24785	199	15	which	which	PRON
fbem-24785	199	16	seriously	seriously	ADV
fbem-24785	199	17	affected	affect	VERB
fbem-24785	199	18	the	the	DET
fbem-24785	199	19	real	real	ADJ
fbem-24785	199	20	economy	economy	NOUN
fbem-24785	199	21	,	,	PUNCT
fbem-24785	199	22	in	in	ADP
fbem-24785	199	23	order	order	NOUN
fbem-24785	199	24	to	to	PART
fbem-24785	199	25	stabilize	stabilize	VERB
fbem-24785	199	26	the	the	DET
fbem-24785	199	27	data	datum	NOUN
fbem-24785	199	28	,	,	PUNCT
fbem-24785	199	29	the	the	DET
fbem-24785	199	30	abnormal	abnormal	ADJ
fbem-24785	199	31	years	year	NOUN
fbem-24785	199	32	were	be	AUX
fbem-24785	199	33	selected	select	VERB
fbem-24785	199	34	to	to	PART
fbem-24785	199	35	be	be	AUX
fbem-24785	199	36	eliminated	eliminate	VERB
fbem-24785	199	37	.	.	PUNCT
fbem-24785	200	1	the	the	DET
fbem-24785	200	2	results	result	NOUN
fbem-24785	200	3	are	be	AUX
fbem-24785	200	4	shown	show	VERB
fbem-24785	200	5	in	in	ADP
fbem-24785	200	6	columns	column	NOUN
fbem-24785	200	7	2	2	NUM
fbem-24785	200	8	and	and	CCONJ
fbem-24785	200	9	5	5	NUM
fbem-24785	200	10	of	of	ADP
fbem-24785	200	11	table	table	NOUN
fbem-24785	200	12	4	4	NUM
fbem-24785	200	13	.	.	PUNCT
fbem-24785	201	1	the	the	DET
fbem-24785	201	2	epu	epu	PROPN
fbem-24785	201	3	coefficient	coefficient	NOUN
fbem-24785	201	4	is	be	AUX
fbem-24785	201	5	significantly	significantly	ADV
fbem-24785	201	6	negative	negative	ADJ
fbem-24785	201	7	,	,	PUNCT
fbem-24785	201	8	and	and	CCONJ
fbem-24785	201	9	the	the	DET
fbem-24785	201	10	cross	cross	ADJ
fbem-24785	201	11	term	term	NOUN
fbem-24785	201	12	coefficient	coefficient	NOUN
fbem-24785	201	13	is	be	AUX
fbem-24785	201	14	positive	positive	ADJ
fbem-24785	201	15	and	and	CCONJ
fbem-24785	201	16	significant	significant	ADJ
fbem-24785	201	17	.	.	PUNCT
fbem-24785	202	1	columns	column	NOUN
fbem-24785	202	2	3	3	NUM
fbem-24785	202	3	and	and	CCONJ
fbem-24785	202	4	6	6	NUM
fbem-24785	202	5	show	show	VERB
fbem-24785	202	6	that	that	SCONJ
fbem-24785	202	7	the	the	DET
fbem-24785	202	8	epu	epu	PROPN
fbem-24785	202	9	coefficient	coefficient	NOUN
fbem-24785	202	10	is	be	AUX
fbem-24785	202	11	still	still	ADV
fbem-24785	202	12	significantly	significantly	ADV
fbem-24785	202	13	negative	negative	ADJ
fbem-24785	202	14	,	,	PUNCT
fbem-24785	202	15	while	while	SCONJ
fbem-24785	202	16	the	the	DET
fbem-24785	202	17	cross	cross	NOUN
fbem-24785	202	18	term	term	NOUN
fbem-24785	202	19	coefficient	coefficient	NOUN
fbem-24785	202	20	is	be	AUX
fbem-24785	202	21	still	still	ADV
fbem-24785	202	22	positive	positive	ADJ
fbem-24785	202	23	and	and	CCONJ
fbem-24785	202	24	significant	significant	ADJ
fbem-24785	202	25	.	.	PUNCT
fbem-24785	203	1	this	this	PRON
fbem-24785	203	2	shows	show	VERB
fbem-24785	203	3	that	that	SCONJ
fbem-24785	203	4	economic	economic	ADJ
fbem-24785	203	5	policy	policy	NOUN
fbem-24785	203	6	uncertainty	uncertainty	NOUN
fbem-24785	203	7	aggravates	aggravate	VERB
fbem-24785	203	8	financial	financial	ADJ
fbem-24785	203	9	vulnerability	vulnerability	NOUN
fbem-24785	203	10	,	,	PUNCT
fbem-24785	203	11	and	and	CCONJ
fbem-24785	203	12	the	the	DET
fbem-24785	203	13	financing	financing	NOUN
fbem-24785	203	14	model	model	NOUN
fbem-24785	203	15	plays	play	VERB
fbem-24785	203	16	a	a	DET
fbem-24785	203	17	positive	positive	ADJ
fbem-24785	203	18	regulatory	regulatory	ADJ
fbem-24785	203	19	role	role	NOUN
fbem-24785	203	20	.	.	PUNCT
fbem-24785	204	1	that	that	PRON
fbem-24785	204	2	is	be	AUX
fbem-24785	204	3	,	,	PUNCT
fbem-24785	204	4	enterprises	enterprise	NOUN
fbem-24785	204	5	can	can	AUX
fbem-24785	204	6	choose	choose	VERB
fbem-24785	204	7	different	different	ADJ
fbem-24785	204	8	financing	financing	NOUN
fbem-24785	204	9	models	model	NOUN
fbem-24785	204	10	to	to	PART
fbem-24785	204	11	alleviate	alleviate	VERB
fbem-24785	204	12	the	the	DET
fbem-24785	204	13	financial	financial	ADJ
fbem-24785	204	14	vulnerability	vulnerability	NOUN
fbem-24785	204	15	of	of	ADP
fbem-24785	204	16	enterprises	enterprise	NOUN
fbem-24785	204	17	,	,	PUNCT
fbem-24785	204	18	which	which	PRON
fbem-24785	204	19	is	be	AUX
fbem-24785	204	20	consistent	consistent	ADJ
fbem-24785	204	21	with	with	ADP
fbem-24785	204	22	the	the	DET
fbem-24785	204	23	above	above	ADJ
fbem-24785	204	24	regression	regression	NOUN
fbem-24785	204	25	results	result	NOUN
fbem-24785	204	26	,	,	PUNCT
fbem-24785	204	27	indicating	indicate	VERB
fbem-24785	204	28	that	that	SCONJ
fbem-24785	204	29	the	the	DET
fbem-24785	204	30	conclusion	conclusion	NOUN
fbem-24785	204	31	is	be	AUX
fbem-24785	204	32	robust	robust	ADJ
fbem-24785	204	33	and	and	CCONJ
fbem-24785	204	34	reliable	reliable	ADJ
fbem-24785	204	35	.	.	PUNCT
fbem-24785	205	1	411	411	NUM
fbem-24785	205	2	table	table	NOUN
fbem-24785	205	3	4	4	NUM
fbem-24785	205	4	.	.	PUNCT
fbem-24785	206	1	robustness	robustness	NOUN
fbem-24785	206	2	test	test	NOUN
fbem-24785	206	3	variables	variable	NOUN
fbem-24785	206	4	recalculating	recalculate	VERB
fbem-24785	206	5	economic	economic	ADJ
fbem-24785	206	6	policy	policy	NOUN
fbem-24785	206	7	uncertainty	uncertainty	NOUN
fbem-24785	206	8	eliminate	eliminate	VERB
fbem-24785	206	9	abnormal	abnormal	ADJ
fbem-24785	206	10	years	year	NOUN
fbem-24785	206	11	(	(	PUNCT
fbem-24785	206	12	1	1	NUM
fbem-24785	206	13	)	)	PUNCT
fbem-24785	206	14	(	(	PUNCT
fbem-24785	206	15	2	2	NUM
fbem-24785	206	16	)	)	PUNCT
fbem-24785	206	17	(	(	PUNCT
fbem-24785	206	18	3	3	X
fbem-24785	206	19	)	)	PUNCT
fbem-24785	206	20	(	(	PUNCT
fbem-24785	206	21	1	1	X
fbem-24785	206	22	)	)	PUNCT
fbem-24785	206	23	(	(	PUNCT
fbem-24785	206	24	2	2	NUM
fbem-24785	206	25	)	)	PUNCT
fbem-24785	206	26	(	(	PUNCT
fbem-24785	206	27	3	3	X
fbem-24785	206	28	)	)	PUNCT
fbem-24785	206	29	z	z	NOUN
fbem-24785	206	30	-	-	PUNCT
fbem-24785	206	31	score	score	NOUN
fbem-24785	206	32	z	z	NOUN
fbem-24785	206	33	-	-	PUNCT
fbem-24785	206	34	score	score	NOUN
fbem-24785	206	35	z	z	NOUN
fbem-24785	206	36	-	-	PUNCT
fbem-24785	206	37	score	score	NOUN
fbem-24785	206	38	z	z	NOUN
fbem-24785	206	39	-	-	PUNCT
fbem-24785	206	40	score	score	NOUN
fbem-24785	206	41	z	z	NOUN
fbem-24785	206	42	-	-	PUNCT
fbem-24785	206	43	score	score	NOUN
fbem-24785	206	44	z	z	NOUN
fbem-24785	206	45	-	-	PUNCT
fbem-24785	206	46	score	score	NOUN
fbem-24785	206	47	epu	epu	NOUN
fbem-24785	206	48	-0.004	-0.004	PUNCT
fbem-24785	206	49	*	*	PUNCT
fbem-24785	206	50	*	*	PUNCT
fbem-24785	206	51	*	*	PUNCT
fbem-24785	206	52	-0.003	-0.003	PUNCT
fbem-24785	206	53	*	*	PUNCT
fbem-24785	206	54	*	*	PUNCT
fbem-24785	206	55	*	*	PUNCT
fbem-24785	206	56	-0.001	-0.001	PUNCT
fbem-24785	207	1	*	*	PUNCT
fbem-24785	207	2	*	*	PUNCT
fbem-24785	207	3	*	*	PUNCT
fbem-24785	207	4	-0.004	-0.004	PUNCT
fbem-24785	207	5	*	*	PUNCT
fbem-24785	207	6	*	*	PUNCT
fbem-24785	207	7	*	*	PUNCT
fbem-24785	207	8	-0.003	-0.003	PUNCT
fbem-24785	207	9	*	*	PUNCT
fbem-24785	207	10	*	*	PUNCT
fbem-24785	207	11	*	*	PUNCT
fbem-24785	207	12	-0.001	-0.001	PUNCT
fbem-24785	208	1	*	*	PUNCT
fbem-24785	208	2	*	*	PUNCT
fbem-24785	208	3	*	*	PUNCT
fbem-24785	208	4	(	(	PUNCT
fbem-24785	208	5	-13.26	-13.26	ADJ
fbem-24785	208	6	)	)	PUNCT
fbem-24785	208	7	(	(	PUNCT
fbem-24785	208	8	-11.32	-11.32	NOUN
fbem-24785	208	9	)	)	PUNCT
fbem-24785	208	10	(	(	PUNCT
fbem-24785	208	11	-5.76	-5.76	X
fbem-24785	208	12	)	)	PUNCT
fbem-24785	208	13	(	(	PUNCT
fbem-24785	208	14	-12.28	-12.28	NOUN
fbem-24785	208	15	)	)	PUNCT
fbem-24785	208	16	(	(	PUNCT
fbem-24785	208	17	-10.72	-10.72	NOUN
fbem-24785	208	18	)	)	PUNCT
fbem-24785	208	19	(	(	PUNCT
fbem-24785	208	20	-5.55	-5.55	NUM
fbem-24785	208	21	)	)	PUNCT
fbem-24785	208	22	creditdebt	creditdebt	NOUN
fbem-24785	208	23	-10.503	-10.503	NOUN
fbem-24785	208	24	*	*	PUNCT
fbem-24785	208	25	*	*	PUNCT
fbem-24785	208	26	*	*	PUNCT
fbem-24785	208	27	-10.114	-10.114	X
fbem-24785	208	28	*	*	PUNCT
fbem-24785	208	29	*	*	PUNCT
fbem-24785	208	30	*	*	PUNCT
fbem-24785	208	31	(	(	PUNCT
fbem-24785	208	32	-15.50	-15.50	PROPN
fbem-24785	208	33	)	)	PUNCT
fbem-24785	208	34	(	(	PUNCT
fbem-24785	208	35	-14.66	-14.66	PROPN
fbem-24785	208	36	)	)	PUNCT
fbem-24785	208	37	creditdebt×epu	creditdebt×epu	PART
fbem-24785	209	1	0.024	0.024	NUM
fbem-24785	209	2	*	*	PUNCT
fbem-24785	209	3	*	*	PUNCT
fbem-24785	209	4	*	*	PUNCT
fbem-24785	209	5	0.023	0.023	NUM
fbem-24785	209	6	*	*	PUNCT
fbem-24785	209	7	*	*	PUNCT
fbem-24785	209	8	*	*	PUNCT
fbem-24785	209	9	(	(	PUNCT
fbem-24785	209	10	12.68	12.68	NUM
fbem-24785	209	11	)	)	PUNCT
fbem-24785	209	12	(	(	PUNCT
fbem-24785	209	13	11.15	11.15	NUM
fbem-24785	209	14	)	)	PUNCT
fbem-24785	209	15	bankdebt	bankdebt	NOUN
fbem-24785	209	16	7.398	7.398	NUM
fbem-24785	209	17	*	*	PUNCT
fbem-24785	209	18	*	*	PUNCT
fbem-24785	209	19	*	*	PUNCT
fbem-24785	209	20	7.925	7.925	NUM
fbem-24785	209	21	*	*	PUNCT
fbem-24785	209	22	*	*	PUNCT
fbem-24785	209	23	*	*	PUNCT
fbem-24785	209	24	(	(	PUNCT
fbem-24785	209	25	2.92	2.92	NUM
fbem-24785	209	26	)	)	PUNCT
fbem-24785	209	27	(	(	PUNCT
fbem-24785	209	28	3.04	3.04	NUM
fbem-24785	209	29	)	)	PUNCT
fbem-24785	209	30	bankdebt×epu	bankdebt×epu	NOUN
fbem-24785	210	1	0.011	0.011	NUM
fbem-24785	210	2	*	*	PUNCT
fbem-24785	210	3	*	*	PUNCT
fbem-24785	210	4	*	*	PUNCT
fbem-24785	210	5	0.011	0.011	NUM
fbem-24785	210	6	*	*	PUNCT
fbem-24785	210	7	*	*	PUNCT
fbem-24785	210	8	*	*	PUNCT
fbem-24785	210	9	(	(	PUNCT
fbem-24785	210	10	11.49	11.49	NUM
fbem-24785	210	11	)	)	PUNCT
fbem-24785	210	12	(	(	PUNCT
fbem-24785	210	13	10.27	10.27	NUM
fbem-24785	210	14	)	)	PUNCT
fbem-24785	210	15	bonddebt	bonddebt	NOUN
fbem-24785	210	16	-1.422	-1.422	NOUN
fbem-24785	210	17	*	*	NOUN
fbem-24785	210	18	*	*	NOUN
fbem-24785	210	19	-1.266	-1.266	X
fbem-24785	210	20	*	*	PUNCT
fbem-24785	210	21	(	(	PUNCT
fbem-24785	210	22	-2.02	-2.02	NUM
fbem-24785	210	23	)	)	PUNCT
fbem-24785	210	24	(	(	PUNCT
fbem-24785	210	25	-1.76	-1.76	NUM
fbem-24785	210	26	)	)	PUNCT
fbem-24785	210	27	bonddebt×epu	bonddebt×epu	ADP
fbem-24785	210	28	0.002	0.002	NUM
fbem-24785	210	29	0.002	0.002	NUM
fbem-24785	210	30	(	(	PUNCT
fbem-24785	210	31	0.85	0.85	NUM
fbem-24785	210	32	)	)	PUNCT
fbem-24785	210	33	(	(	PUNCT
fbem-24785	210	34	0.73	0.73	NUM
fbem-24785	210	35	)	)	PUNCT
fbem-24785	210	36	controls	control	NOUN
fbem-24785	210	37	yes	yes	INTJ
fbem-24785	211	1	yes	yes	INTJ
fbem-24785	212	1	yes	yes	INTJ
fbem-24785	213	1	yes	yes	INTJ
fbem-24785	214	1	yes	yes	INTJ
fbem-24785	214	2	yes	yes	INTJ
fbem-24785	214	3	constant	constant	ADJ
fbem-24785	214	4	-4.569	-4.569	NOUN
fbem-24785	214	5	*	*	PUNCT
fbem-24785	214	6	*	*	PUNCT
fbem-24785	214	7	*	*	PUNCT
fbem-24785	214	8	-6.319	-6.319	PUNCT
fbem-24785	214	9	*	*	PUNCT
fbem-24785	214	10	*	*	PUNCT
fbem-24785	214	11	*	*	PUNCT
fbem-24785	214	12	-6.663	-6.663	PUNCT
fbem-24785	214	13	*	*	PUNCT
fbem-24785	214	14	*	*	PUNCT
fbem-24785	214	15	*	*	PUNCT
fbem-24785	214	16	-4.918	-4.918	NOUN
fbem-24785	214	17	*	*	PUNCT
fbem-24785	214	18	*	*	PUNCT
fbem-24785	214	19	*	*	PUNCT
fbem-24785	214	20	-6.650	-6.650	PUNCT
fbem-24785	214	21	*	*	PUNCT
fbem-24785	214	22	*	*	PUNCT
fbem-24785	214	23	*	*	PUNCT
fbem-24785	214	24	-6.948	-6.948	PROPN
fbem-24785	214	25	*	*	PUNCT
fbem-24785	214	26	*	*	PUNCT
fbem-24785	214	27	*	*	PUNCT
fbem-24785	214	28	(	(	PUNCT
fbem-24785	214	29	-5.95	-5.95	NOUN
fbem-24785	214	30	)	)	PUNCT
fbem-24785	214	31	(	(	PUNCT
fbem-24785	214	32	-8.32	-8.32	NUM
fbem-24785	214	33	)	)	PUNCT
fbem-24785	214	34	(	(	PUNCT
fbem-24785	214	35	-8.68	-8.68	NOUN
fbem-24785	214	36	)	)	PUNCT
fbem-24785	214	37	(	(	PUNCT
fbem-24785	214	38	-6.20	-6.20	NUM
fbem-24785	214	39	)	)	PUNCT
fbem-24785	214	40	(	(	PUNCT
fbem-24785	214	41	-8.49	-8.49	NOUN
fbem-24785	214	42	)	)	PUNCT
fbem-24785	214	43	(	(	PUNCT
fbem-24785	214	44	-8.77	-8.77	NOUN
fbem-24785	214	45	)	)	PUNCT
fbem-24785	214	46	observations	observation	NOUN
fbem-24785	214	47	12,652	12,652	NUM
fbem-24785	214	48	12,652	12,652	NUM
fbem-24785	214	49	12,652	12,652	NUM
fbem-24785	214	50	12,168	12,168	NUM
fbem-24785	214	51	12,168	12,168	NUM
fbem-24785	214	52	12,168	12,168	NUM
fbem-24785	214	53	r	r	X
fbem-24785	214	54	-	-	PUNCT
fbem-24785	214	55	squared	square	VERB
fbem-24785	214	56	0.696	0.696	NUM
fbem-24785	214	57	0.693	0.693	NUM
fbem-24785	214	58	0.691	0.691	NUM
fbem-24785	214	59	0.696	0.696	NUM
fbem-24785	214	60	0.692	0.692	NUM
fbem-24785	214	61	0.691	0.691	NUM
fbem-24785	214	62	ind	ind	NOUN
fbem-24785	215	1	yes	yes	INTJ
fbem-24785	216	1	yes	yes	INTJ
fbem-24785	217	1	yes	yes	INTJ
fbem-24785	218	1	yes	yes	INTJ
fbem-24785	219	1	yes	yes	INTJ
fbem-24785	220	1	yes	yes	INTJ
fbem-24785	220	2	year	year	NOUN
fbem-24785	221	1	yes	yes	INTJ
fbem-24785	222	1	yes	yes	INTJ
fbem-24785	223	1	yes	yes	INTJ
fbem-24785	224	1	yes	yes	INTJ
fbem-24785	225	1	yes	yes	INTJ
fbem-24785	225	2	yes	yes	INTJ
fbem-24785	225	3	note	note	VERB
fbem-24785	225	4	:	:	PUNCT
fbem-24785	225	5	the	the	DET
fbem-24785	225	6	t	t	NOUN
fbem-24785	225	7	value	value	NOUN
fbem-24785	225	8	is	be	AUX
fbem-24785	225	9	in	in	ADP
fbem-24785	225	10	parentheses	parenthesis	NOUN
fbem-24785	225	11	,	,	PUNCT
fbem-24785	225	12	and	and	CCONJ
fbem-24785	225	13	*	*	PUNCT
fbem-24785	225	14	*	*	PUNCT
fbem-24785	226	1	*	*	PUNCT
fbem-24785	226	2	,	,	PUNCT
fbem-24785	226	3	*	*	PUNCT
fbem-24785	226	4	*	*	PUNCT
fbem-24785	226	5	,	,	PUNCT
fbem-24785	226	6	*	*	PUNCT
fbem-24785	226	7	are	be	AUX
fbem-24785	226	8	significant	significant	ADJ
fbem-24785	226	9	at	at	ADP
fbem-24785	226	10	1	1	NUM
fbem-24785	226	11	%	%	NOUN
fbem-24785	226	12	,	,	PUNCT
fbem-24785	226	13	5	5	NUM
fbem-24785	226	14	%	%	NOUN
fbem-24785	226	15	,	,	PUNCT
fbem-24785	226	16	and	and	CCONJ
fbem-24785	226	17	10	10	NUM
fbem-24785	226	18	%	%	NOUN
fbem-24785	226	19	,	,	PUNCT
fbem-24785	226	20	respectively	respectively	ADV
fbem-24785	226	21	.	.	PUNCT
fbem-24785	227	1	6	6	X
fbem-24785	227	2	.	.	X
fbem-24785	227	3	further	further	ADJ
fbem-24785	227	4	analysis	analysis	NOUN
fbem-24785	227	5	6.1	6.1	NUM
fbem-24785	227	6	.	.	PUNCT
fbem-24785	228	1	industry	industry	NOUN
fbem-24785	228	2	heterogeneity	heterogeneity	NOUN
fbem-24785	228	3	analysis	analysis	NOUN
fbem-24785	228	4	because	because	SCONJ
fbem-24785	228	5	enterprises	enterprise	NOUN
fbem-24785	228	6	in	in	ADP
fbem-24785	228	7	different	different	ADJ
fbem-24785	228	8	industries	industry	NOUN
fbem-24785	228	9	may	may	AUX
fbem-24785	228	10	be	be	AUX
fbem-24785	228	11	affected	affect	VERB
fbem-24785	228	12	by	by	ADP
fbem-24785	228	13	economic	economic	ADJ
fbem-24785	228	14	policy	policy	NOUN
fbem-24785	228	15	uncertainty	uncertainty	NOUN
fbem-24785	228	16	differently	differently	ADV
fbem-24785	229	1	,	,	PUNCT
fbem-24785	229	2	this	this	DET
fbem-24785	229	3	paper	paper	NOUN
fbem-24785	229	4	divides	divide	VERB
fbem-24785	229	5	the	the	DET
fbem-24785	229	6	samples	sample	NOUN
fbem-24785	229	7	into	into	ADP
fbem-24785	229	8	two	two	NUM
fbem-24785	229	9	groups	group	NOUN
fbem-24785	229	10	:	:	PUNCT
fbem-24785	229	11	manufacturing	manufacturing	NOUN
fbem-24785	229	12	and	and	CCONJ
fbem-24785	229	13	nonmanufacturing	nonmanufacturing	ADJ
fbem-24785	229	14	samples	sample	NOUN
fbem-24785	229	15	,	,	PUNCT
fbem-24785	229	16	and	and	CCONJ
fbem-24785	229	17	studies	study	VERB
fbem-24785	229	18	the	the	DET
fbem-24785	229	19	impact	impact	NOUN
fbem-24785	229	20	of	of	ADP
fbem-24785	229	21	economic	economic	ADJ
fbem-24785	229	22	policy	policy	NOUN
fbem-24785	229	23	uncertainty	uncertainty	NOUN
fbem-24785	229	24	on	on	ADP
fbem-24785	229	25	corporate	corporate	ADJ
fbem-24785	229	26	financial	financial	ADJ
fbem-24785	229	27	vulnerability	vulnerability	NOUN
fbem-24785	229	28	and	and	CCONJ
fbem-24785	229	29	the	the	DET
fbem-24785	229	30	regulatory	regulatory	ADJ
fbem-24785	229	31	role	role	NOUN
fbem-24785	229	32	of	of	ADP
fbem-24785	229	33	financing	financing	NOUN
fbem-24785	229	34	models	model	NOUN
fbem-24785	229	35	.	.	PUNCT
fbem-24785	230	1	in	in	ADP
fbem-24785	230	2	table	table	NOUN
fbem-24785	230	3	5	5	NUM
fbem-24785	230	4	,	,	PUNCT
fbem-24785	230	5	column	column	NOUN
fbem-24785	230	6	(	(	PUNCT
fbem-24785	230	7	1	1	NUM
fbem-24785	230	8	)	)	PUNCT
fbem-24785	230	9	-column	-column	PROPN
fbem-24785	230	10	(	(	PUNCT
fbem-24785	230	11	3	3	NUM
fbem-24785	230	12	)	)	PUNCT
fbem-24785	230	13	is	be	AUX
fbem-24785	230	14	the	the	DET
fbem-24785	230	15	regression	regression	NOUN
fbem-24785	230	16	result	result	NOUN
fbem-24785	230	17	of	of	ADP
fbem-24785	230	18	non	non	ADJ
fbem-24785	230	19	-	-	ADJ
fbem-24785	230	20	manufacturing	manufacturing	ADJ
fbem-24785	230	21	industry	industry	NOUN
fbem-24785	230	22	,	,	PUNCT
fbem-24785	230	23	and	and	CCONJ
fbem-24785	230	24	column	column	NOUN
fbem-24785	230	25	(	(	PUNCT
fbem-24785	230	26	4	4	NUM
fbem-24785	230	27	)	)	PUNCT
fbem-24785	230	28	-column	-column	NOUN
fbem-24785	230	29	(	(	PUNCT
fbem-24785	230	30	6	6	NUM
fbem-24785	230	31	)	)	PUNCT
fbem-24785	230	32	is	be	AUX
fbem-24785	230	33	the	the	DET
fbem-24785	230	34	regression	regression	NOUN
fbem-24785	230	35	result	result	NOUN
fbem-24785	230	36	of	of	ADP
fbem-24785	230	37	manufacturing	manufacture	VERB
fbem-24785	230	38	industry	industry	NOUN
fbem-24785	230	39	.	.	PUNCT
fbem-24785	231	1	the	the	DET
fbem-24785	231	2	results	result	NOUN
fbem-24785	231	3	show	show	VERB
fbem-24785	231	4	that	that	SCONJ
fbem-24785	231	5	economic	economic	ADJ
fbem-24785	231	6	policy	policy	NOUN
fbem-24785	231	7	uncertainty	uncertainty	NOUN
fbem-24785	231	8	has	have	VERB
fbem-24785	231	9	a	a	DET
fbem-24785	231	10	significant	significant	ADJ
fbem-24785	231	11	inhibitory	inhibitory	ADJ
fbem-24785	231	12	effect	effect	NOUN
fbem-24785	231	13	on	on	ADP
fbem-24785	231	14	both	both	DET
fbem-24785	231	15	non	non	ADJ
fbem-24785	231	16	-	-	ADJ
fbem-24785	231	17	manufacturing	manufacturing	ADJ
fbem-24785	231	18	and	and	CCONJ
fbem-24785	231	19	manufacturing	manufacturing	NOUN
fbem-24785	231	20	industries	industry	NOUN
fbem-24785	231	21	,	,	PUNCT
fbem-24785	231	22	and	and	CCONJ
fbem-24785	231	23	the	the	DET
fbem-24785	231	24	regression	regression	NOUN
fbem-24785	231	25	results	result	NOUN
fbem-24785	231	26	of	of	ADP
fbem-24785	231	27	different	different	ADJ
fbem-24785	231	28	financing	financing	NOUN
fbem-24785	231	29	modes	mode	NOUN
fbem-24785	231	30	on	on	ADP
fbem-24785	231	31	their	their	PRON
fbem-24785	231	32	relationship	relationship	NOUN
fbem-24785	231	33	in	in	ADP
fbem-24785	231	34	the	the	DET
fbem-24785	231	35	ownership	ownership	NOUN
fbem-24785	231	36	enterprises	enterprise	NOUN
fbem-24785	231	37	are	be	AUX
fbem-24785	231	38	basically	basically	ADV
fbem-24785	231	39	the	the	DET
fbem-24785	231	40	same	same	ADJ
fbem-24785	231	41	,	,	PUNCT
fbem-24785	231	42	while	while	SCONJ
fbem-24785	231	43	bond	bond	NOUN
fbem-24785	231	44	financing	financing	NOUN
fbem-24785	231	45	has	have	VERB
fbem-24785	231	46	a	a	DET
fbem-24785	231	47	significant	significant	ADJ
fbem-24785	231	48	negative	negative	ADJ
fbem-24785	231	49	correlation	correlation	NOUN
fbem-24785	231	50	in	in	ADP
fbem-24785	231	51	the	the	DET
fbem-24785	231	52	nonmanufacturing	nonmanufacturing	ADJ
fbem-24785	231	53	group	group	NOUN
fbem-24785	231	54	,	,	PUNCT
fbem-24785	231	55	that	that	ADV
fbem-24785	231	56	is	is	ADV
fbem-24785	231	57	,	,	PUNCT
fbem-24785	231	58	in	in	ADP
fbem-24785	231	59	the	the	DET
fbem-24785	231	60	non	non	ADJ
fbem-24785	231	61	-	-	ADJ
fbem-24785	231	62	manufacturing	manufacturing	ADJ
fbem-24785	231	63	industry	industry	NOUN
fbem-24785	231	64	,	,	PUNCT
fbem-24785	231	65	bond	bond	NOUN
fbem-24785	231	66	financing	financing	NOUN
fbem-24785	231	67	will	will	AUX
fbem-24785	231	68	aggravate	aggravate	VERB
fbem-24785	231	69	the	the	DET
fbem-24785	231	70	financial	financial	ADJ
fbem-24785	231	71	vulnerability	vulnerability	NOUN
fbem-24785	231	72	of	of	ADP
fbem-24785	231	73	enterprises	enterprise	NOUN
fbem-24785	231	74	.	.	PUNCT
fbem-24785	232	1	this	this	PRON
fbem-24785	232	2	is	be	AUX
fbem-24785	232	3	due	due	ADJ
fbem-24785	232	4	to	to	ADP
fbem-24785	232	5	the	the	DET
fbem-24785	232	6	relatively	relatively	ADV
fbem-24785	232	7	low	low	ADJ
fbem-24785	232	8	financial	financial	ADJ
fbem-24785	232	9	leverage	leverage	NOUN
fbem-24785	232	10	of	of	ADP
fbem-24785	232	11	non	non	ADJ
fbem-24785	232	12	-	-	ADJ
fbem-24785	232	13	manufacturing	manufacturing	ADJ
fbem-24785	232	14	enterprises	enterprise	NOUN
fbem-24785	232	15	relative	relative	ADJ
fbem-24785	232	16	to	to	ADP
fbem-24785	232	17	manufacturing	manufacture	VERB
fbem-24785	232	18	industry	industry	NOUN
fbem-24785	232	19	,	,	PUNCT
fbem-24785	232	20	the	the	DET
fbem-24785	232	21	low	low	ADJ
fbem-24785	232	22	sensitivity	sensitivity	NOUN
fbem-24785	232	23	to	to	ADP
fbem-24785	232	24	economic	economic	ADJ
fbem-24785	232	25	policy	policy	NOUN
fbem-24785	232	26	changes	change	NOUN
fbem-24785	232	27	,	,	PUNCT
fbem-24785	232	28	resulting	result	VERB
fbem-24785	232	29	in	in	ADP
fbem-24785	232	30	a	a	DET
fbem-24785	232	31	decline	decline	NOUN
fbem-24785	232	32	in	in	ADP
fbem-24785	232	33	credit	credit	NOUN
fbem-24785	232	34	rating	rating	NOUN
fbem-24785	232	35	,	,	PUNCT
fbem-24785	232	36	increased	increase	VERB
fbem-24785	232	37	difficulty	difficulty	NOUN
fbem-24785	232	38	in	in	ADP
fbem-24785	232	39	bond	bond	NOUN
fbem-24785	232	40	financing	financing	NOUN
fbem-24785	232	41	,	,	PUNCT
fbem-24785	232	42	and	and	CCONJ
fbem-24785	232	43	increased	increase	VERB
fbem-24785	232	44	financial	financial	ADJ
fbem-24785	232	45	risk	risk	NOUN
fbem-24785	232	46	of	of	ADP
fbem-24785	232	47	enterprises	enterprise	NOUN
fbem-24785	232	48	.	.	PUNCT
fbem-24785	233	1	412	412	NUM
fbem-24785	233	2	table	table	NOUN
fbem-24785	233	3	5	5	NUM
fbem-24785	233	4	.	.	PUNCT
fbem-24785	233	5	industry	industry	NOUN
fbem-24785	233	6	heterogeneity	heterogeneity	NOUN
fbem-24785	233	7	analysis	analysis	NOUN
fbem-24785	233	8	variables	variable	NOUN
fbem-24785	233	9	non	non	ADJ
fbem-24785	233	10	-	-	ADJ
fbem-24785	233	11	manufacturing	manufacturing	ADJ
fbem-24785	233	12	industry	industry	NOUN
fbem-24785	233	13	manufacturing	manufacturing	NOUN
fbem-24785	233	14	industry	industry	NOUN
fbem-24785	233	15	(	(	PUNCT
fbem-24785	233	16	1	1	NUM
fbem-24785	233	17	)	)	PUNCT
fbem-24785	233	18	(	(	PUNCT
fbem-24785	233	19	2	2	NUM
fbem-24785	233	20	)	)	PUNCT
fbem-24785	233	21	(	(	PUNCT
fbem-24785	233	22	3	3	X
fbem-24785	233	23	)	)	PUNCT
fbem-24785	233	24	(	(	PUNCT
fbem-24785	233	25	4	4	NUM
fbem-24785	233	26	)	)	PUNCT
fbem-24785	233	27	(	(	PUNCT
fbem-24785	233	28	5	5	NUM
fbem-24785	233	29	)	)	PUNCT
fbem-24785	233	30	(	(	PUNCT
fbem-24785	233	31	6	6	NUM
fbem-24785	233	32	)	)	PUNCT
fbem-24785	233	33	z	z	NOUN
fbem-24785	233	34	-	-	PUNCT
fbem-24785	233	35	score	score	NOUN
fbem-24785	233	36	z	z	NOUN
fbem-24785	233	37	-	-	PUNCT
fbem-24785	233	38	score	score	NOUN
fbem-24785	233	39	z	z	NOUN
fbem-24785	233	40	-	-	PUNCT
fbem-24785	233	41	score	score	NOUN
fbem-24785	233	42	z	z	NOUN
fbem-24785	233	43	-	-	PUNCT
fbem-24785	233	44	score	score	NOUN
fbem-24785	233	45	z	z	NOUN
fbem-24785	233	46	-	-	PUNCT
fbem-24785	233	47	score	score	NOUN
fbem-24785	233	48	z	z	NOUN
fbem-24785	233	49	-	-	PUNCT
fbem-24785	233	50	score	score	NOUN
fbem-24785	233	51	epu	epu	NOUN
fbem-24785	233	52	-0.004	-0.004	PUNCT
fbem-24785	233	53	*	*	PUNCT
fbem-24785	233	54	*	*	PUNCT
fbem-24785	233	55	*	*	PUNCT
fbem-24785	233	56	-0.002	-0.002	PUNCT
fbem-24785	233	57	*	*	PUNCT
fbem-24785	233	58	*	*	PUNCT
fbem-24785	233	59	*	*	PUNCT
fbem-24785	233	60	-0.001	-0.001	PUNCT
fbem-24785	234	1	*	*	PUNCT
fbem-24785	234	2	*	*	PUNCT
fbem-24785	234	3	-0.005	-0.005	PUNCT
fbem-24785	234	4	*	*	PUNCT
fbem-24785	234	5	*	*	PUNCT
fbem-24785	234	6	*	*	PUNCT
fbem-24785	234	7	-0.004	-0.004	PUNCT
fbem-24785	234	8	*	*	PUNCT
fbem-24785	234	9	*	*	PUNCT
fbem-24785	234	10	*	*	PUNCT
fbem-24785	234	11	-0.002	-0.002	PUNCT
fbem-24785	234	12	*	*	PUNCT
fbem-24785	234	13	*	*	PUNCT
fbem-24785	234	14	*	*	PUNCT
fbem-24785	234	15	(	(	PUNCT
fbem-24785	234	16	-7.22	-7.22	NOUN
fbem-24785	234	17	)	)	PUNCT
fbem-24785	234	18	(	(	PUNCT
fbem-24785	234	19	-3.90	-3.90	NUM
fbem-24785	234	20	)	)	PUNCT
fbem-24785	234	21	(	(	PUNCT
fbem-24785	234	22	-2.00	-2.00	NUM
fbem-24785	234	23	)	)	PUNCT
fbem-24785	234	24	(	(	PUNCT
fbem-24785	234	25	-8.96	-8.96	NOUN
fbem-24785	234	26	)	)	PUNCT
fbem-24785	234	27	(	(	PUNCT
fbem-24785	234	28	-8.13	-8.13	NOUN
fbem-24785	234	29	)	)	PUNCT
fbem-24785	234	30	(	(	PUNCT
fbem-24785	234	31	-4.38	-4.38	NOUN
fbem-24785	234	32	)	)	PUNCT
fbem-24785	234	33	creditdebt	creditdebt	NOUN
fbem-24785	234	34	-8.119	-8.119	PUNCT
fbem-24785	234	35	*	*	PUNCT
fbem-24785	234	36	*	*	PUNCT
fbem-24785	234	37	*	*	PUNCT
fbem-24785	234	38	-10.507	-10.507	PROPN
fbem-24785	234	39	*	*	PUNCT
fbem-24785	234	40	*	*	PUNCT
fbem-24785	234	41	*	*	PUNCT
fbem-24785	234	42	(	(	PUNCT
fbem-24785	234	43	-8.77	-8.77	ADJ
fbem-24785	234	44	)	)	PUNCT
fbem-24785	234	45	(	(	PUNCT
fbem-24785	234	46	-9.64	-9.64	X
fbem-24785	234	47	)	)	PUNCT
fbem-24785	234	48	creditdebt×epu	creditdebt×epu	NOUN
fbem-24785	235	1	0.022	0.022	NUM
fbem-24785	235	2	*	*	PUNCT
fbem-24785	235	3	*	*	PUNCT
fbem-24785	235	4	*	*	PUNCT
fbem-24785	235	5	0.025	0.025	NUM
fbem-24785	235	6	*	*	PUNCT
fbem-24785	235	7	*	*	PUNCT
fbem-24785	235	8	*	*	PUNCT
fbem-24785	235	9	(	(	PUNCT
fbem-24785	235	10	7.78	7.78	NUM
fbem-24785	235	11	)	)	PUNCT
fbem-24785	235	12	(	(	PUNCT
fbem-24785	235	13	6.94	6.94	NUM
fbem-24785	235	14	)	)	PUNCT
fbem-24785	235	15	bankdebt	bankdebt	NOUN
fbem-24785	235	16	3.256	3.256	NUM
fbem-24785	235	17	5.319	5.319	NUM
fbem-24785	235	18	(	(	PUNCT
fbem-24785	235	19	0.89	0.89	NUM
fbem-24785	235	20	)	)	PUNCT
fbem-24785	235	21	(	(	PUNCT
fbem-24785	235	22	1.06	1.06	NUM
fbem-24785	235	23	)	)	PUNCT
fbem-24785	235	24	bankdebt×epu	bankdebt×epu	X
fbem-24785	236	1	0.006	0.006	NUM
fbem-24785	236	2	*	*	PUNCT
fbem-24785	236	3	*	*	PUNCT
fbem-24785	236	4	*	*	PUNCT
fbem-24785	236	5	0.014	0.014	NUM
fbem-24785	236	6	*	*	PUNCT
fbem-24785	236	7	*	*	PUNCT
fbem-24785	236	8	*	*	PUNCT
fbem-24785	236	9	(	(	PUNCT
fbem-24785	236	10	2.99	2.99	NUM
fbem-24785	236	11	)	)	PUNCT
fbem-24785	236	12	(	(	PUNCT
fbem-24785	236	13	6.41	6.41	NUM
fbem-24785	236	14	)	)	PUNCT
fbem-24785	236	15	bonddebt	bonddebt	NOUN
fbem-24785	236	16	-5.413	-5.413	NOUN
fbem-24785	236	17	*	*	PUNCT
fbem-24785	236	18	*	*	PUNCT
fbem-24785	236	19	*	*	X
fbem-24785	236	20	0.202	0.202	NUM
fbem-24785	236	21	(	(	PUNCT
fbem-24785	236	22	-3.16	-3.16	NOUN
fbem-24785	236	23	)	)	PUNCT
fbem-24785	236	24	(	(	PUNCT
fbem-24785	236	25	0.12	0.12	NUM
fbem-24785	236	26	)	)	PUNCT
fbem-24785	236	27	bonddebt×epu	bonddebt×epu	ADP
fbem-24785	236	28	0.003	0.003	NUM
fbem-24785	236	29	0.003	0.003	NUM
fbem-24785	236	30	(	(	PUNCT
fbem-24785	236	31	0.63	0.63	NUM
fbem-24785	236	32	)	)	PUNCT
fbem-24785	236	33	(	(	PUNCT
fbem-24785	236	34	0.54	0.54	NUM
fbem-24785	236	35	)	)	PUNCT
fbem-24785	236	36	controls	control	NOUN
fbem-24785	237	1	yes	yes	INTJ
fbem-24785	238	1	yes	yes	INTJ
fbem-24785	239	1	yes	yes	INTJ
fbem-24785	240	1	yes	yes	INTJ
fbem-24785	241	1	yes	yes	INTJ
fbem-24785	241	2	yes	yes	INTJ
fbem-24785	241	3	constant	constant	ADJ
fbem-24785	241	4	-3.883	-3.883	NOUN
fbem-24785	241	5	*	*	PUNCT
fbem-24785	241	6	*	*	PUNCT
fbem-24785	241	7	*	*	PUNCT
fbem-24785	241	8	-5.329	-5.329	PUNCT
fbem-24785	242	1	*	*	PUNCT
fbem-24785	242	2	*	*	PUNCT
fbem-24785	242	3	*	*	PUNCT
fbem-24785	242	4	-5.826	-5.826	PUNCT
fbem-24785	242	5	*	*	PUNCT
fbem-24785	242	6	*	*	PUNCT
fbem-24785	242	7	*	*	PUNCT
fbem-24785	242	8	-3.997	-3.997	PUNCT
fbem-24785	242	9	*	*	PUNCT
fbem-24785	242	10	*	*	PUNCT
fbem-24785	242	11	*	*	PUNCT
fbem-24785	242	12	-5.640	-5.640	PUNCT
fbem-24785	242	13	*	*	PUNCT
fbem-24785	242	14	*	*	PUNCT
fbem-24785	242	15	*	*	PUNCT
fbem-24785	242	16	-5.996	-5.996	PUNCT
fbem-24785	242	17	*	*	PUNCT
fbem-24785	242	18	*	*	PUNCT
fbem-24785	242	19	*	*	PUNCT
fbem-24785	242	20	(	(	PUNCT
fbem-24785	242	21	-3.56	-3.56	NOUN
fbem-24785	242	22	)	)	PUNCT
fbem-24785	242	23	(	(	PUNCT
fbem-24785	242	24	-4.92	-4.92	ADJ
fbem-24785	242	25	)	)	PUNCT
fbem-24785	242	26	(	(	PUNCT
fbem-24785	242	27	-5.33	-5.33	NOUN
fbem-24785	242	28	)	)	PUNCT
fbem-24785	242	29	(	(	PUNCT
fbem-24785	242	30	-3.55	-3.55	NOUN
fbem-24785	242	31	)	)	PUNCT
fbem-24785	242	32	(	(	PUNCT
fbem-24785	242	33	-5.07	-5.07	NUM
fbem-24785	242	34	)	)	PUNCT
fbem-24785	242	35	(	(	PUNCT
fbem-24785	242	36	-5.30	-5.30	NOUN
fbem-24785	242	37	)	)	PUNCT
fbem-24785	242	38	observations	observation	NOUN
fbem-24785	242	39	4,761	4,761	NUM
fbem-24785	243	1	4,761	4,761	NUM
fbem-24785	243	2	4,761	4,761	NUM
fbem-24785	243	3	7,179	7,179	NUM
fbem-24785	243	4	7,179	7,179	NUM
fbem-24785	243	5	7,179	7,179	NUM
fbem-24785	243	6	r	r	NOUN
fbem-24785	243	7	-	-	PUNCT
fbem-24785	243	8	squared	square	VERB
fbem-24785	243	9	0.708	0.708	NUM
fbem-24785	243	10	0.704	0.704	NUM
fbem-24785	243	11	0.705	0.705	NUM
fbem-24785	243	12	0.697	0.697	NUM
fbem-24785	243	13	0.695	0.695	NUM
fbem-24785	243	14	0.693	0.693	NUM
fbem-24785	243	15	year	year	NOUN
fbem-24785	244	1	yes	yes	INTJ
fbem-24785	245	1	yes	yes	INTJ
fbem-24785	246	1	yes	yes	INTJ
fbem-24785	247	1	yes	yes	INTJ
fbem-24785	248	1	yes	yes	INTJ
fbem-24785	248	2	yes	yes	INTJ
fbem-24785	248	3	note	note	VERB
fbem-24785	248	4	:	:	PUNCT
fbem-24785	248	5	the	the	DET
fbem-24785	248	6	t	t	NOUN
fbem-24785	248	7	value	value	NOUN
fbem-24785	248	8	is	be	AUX
fbem-24785	248	9	in	in	ADP
fbem-24785	248	10	parentheses	parenthesis	NOUN
fbem-24785	248	11	,	,	PUNCT
fbem-24785	248	12	and	and	CCONJ
fbem-24785	248	13	*	*	PUNCT
fbem-24785	248	14	*	*	PUNCT
fbem-24785	249	1	*	*	PUNCT
fbem-24785	249	2	,	,	PUNCT
fbem-24785	249	3	*	*	PUNCT
fbem-24785	249	4	*	*	PUNCT
fbem-24785	249	5	,	,	PUNCT
fbem-24785	249	6	*	*	PUNCT
fbem-24785	249	7	are	be	AUX
fbem-24785	249	8	significant	significant	ADJ
fbem-24785	249	9	at	at	ADP
fbem-24785	249	10	1	1	NUM
fbem-24785	249	11	%	%	NOUN
fbem-24785	249	12	,	,	PUNCT
fbem-24785	249	13	5	5	NUM
fbem-24785	249	14	%	%	NOUN
fbem-24785	249	15	,	,	PUNCT
fbem-24785	249	16	and	and	CCONJ
fbem-24785	249	17	10	10	NUM
fbem-24785	249	18	%	%	NOUN
fbem-24785	249	19	,	,	PUNCT
fbem-24785	249	20	respectively	respectively	ADV
fbem-24785	249	21	.	.	PUNCT
fbem-24785	250	1	6.2	6.2	NUM
fbem-24785	250	2	.	.	PUNCT
fbem-24785	250	3	analysis	analysis	NOUN
fbem-24785	250	4	of	of	ADP
fbem-24785	250	5	financing	financing	NOUN
fbem-24785	250	6	constraints	constraint	NOUN
fbem-24785	250	7	based	base	VERB
fbem-24785	250	8	on	on	ADP
fbem-24785	250	9	the	the	DET
fbem-24785	250	10	research	research	NOUN
fbem-24785	250	11	methods	method	NOUN
fbem-24785	250	12	of	of	ADP
fbem-24785	250	13	whited	white	VERB
fbem-24785	250	14	and	and	CCONJ
fbem-24785	250	15	wu	wu	PROPN
fbem-24785	250	16	(	(	PUNCT
fbem-24785	250	17	2006	2006	NUM
fbem-24785	250	18	)	)	PUNCT
fbem-24785	251	1	[	[	X
fbem-24785	251	2	36	36	NUM
fbem-24785	251	3	]	]	PUNCT
fbem-24785	251	4	,	,	PUNCT
fbem-24785	251	5	the	the	DET
fbem-24785	251	6	ww	ww	PROPN
fbem-24785	251	7	index	index	NOUN
fbem-24785	251	8	is	be	AUX
fbem-24785	251	9	constructed	construct	VERB
fbem-24785	251	10	.	.	PUNCT
fbem-24785	252	1	the	the	PRON
fbem-24785	252	2	larger	large	ADJ
fbem-24785	252	3	the	the	DET
fbem-24785	252	4	index	index	NOUN
fbem-24785	252	5	,	,	PUNCT
fbem-24785	252	6	the	the	PRON
fbem-24785	252	7	higher	high	ADJ
fbem-24785	252	8	the	the	DET
fbem-24785	252	9	degree	degree	NOUN
fbem-24785	252	10	of	of	ADP
fbem-24785	252	11	corporate	corporate	ADJ
fbem-24785	252	12	financing	financing	NOUN
fbem-24785	252	13	constraints	constraint	NOUN
fbem-24785	252	14	.	.	PUNCT
fbem-24785	253	1	this	this	DET
fbem-24785	253	2	paper	paper	NOUN
fbem-24785	253	3	divides	divide	VERB
fbem-24785	253	4	the	the	DET
fbem-24785	253	5	sample	sample	NOUN
fbem-24785	253	6	into	into	ADP
fbem-24785	253	7	low	low	ADJ
fbem-24785	253	8	financing	financing	NOUN
fbem-24785	253	9	constraints	constraint	NOUN
fbem-24785	253	10	group	group	NOUN
fbem-24785	253	11	and	and	CCONJ
fbem-24785	253	12	high	high	ADJ
fbem-24785	253	13	financing	financing	NOUN
fbem-24785	253	14	constraints	constraint	NOUN
fbem-24785	253	15	group	group	NOUN
fbem-24785	253	16	,	,	PUNCT
fbem-24785	253	17	and	and	CCONJ
fbem-24785	253	18	analyzes	analyze	VERB
fbem-24785	253	19	the	the	DET
fbem-24785	253	20	differences	difference	NOUN
fbem-24785	253	21	.	.	PUNCT
fbem-24785	254	1	in	in	ADP
fbem-24785	254	2	columns	column	NOUN
fbem-24785	254	3	(	(	PUNCT
fbem-24785	254	4	3	3	NUM
fbem-24785	254	5	)	)	PUNCT
fbem-24785	254	6	and	and	CCONJ
fbem-24785	254	7	(	(	PUNCT
fbem-24785	254	8	6	6	NUM
fbem-24785	254	9	)	)	PUNCT
fbem-24785	254	10	of	of	ADP
fbem-24785	254	11	table	table	NOUN
fbem-24785	254	12	6	6	NUM
fbem-24785	254	13	,	,	PUNCT
fbem-24785	254	14	compared	compare	VERB
fbem-24785	254	15	with	with	ADP
fbem-24785	254	16	the	the	DET
fbem-24785	254	17	high	high	ADJ
fbem-24785	254	18	financing	financing	NOUN
fbem-24785	254	19	constraint	constraint	NOUN
fbem-24785	254	20	group	group	NOUN
fbem-24785	254	21	,	,	PUNCT
fbem-24785	254	22	in	in	ADP
fbem-24785	254	23	the	the	DET
fbem-24785	254	24	low	low	ADJ
fbem-24785	254	25	financing	financing	NOUN
fbem-24785	254	26	constraint	constraint	NOUN
fbem-24785	254	27	group	group	NOUN
fbem-24785	254	28	,	,	PUNCT
fbem-24785	254	29	bond	bond	NOUN
fbem-24785	254	30	financing	financing	NOUN
fbem-24785	254	31	is	be	AUX
fbem-24785	254	32	significantly	significantly	ADV
fbem-24785	254	33	negatively	negatively	ADV
fbem-24785	254	34	correlated	correlate	VERB
fbem-24785	254	35	with	with	ADP
fbem-24785	254	36	the	the	DET
fbem-24785	254	37	financial	financial	ADJ
fbem-24785	254	38	vulnerability	vulnerability	NOUN
fbem-24785	254	39	of	of	ADP
fbem-24785	254	40	enterprises	enterprise	NOUN
fbem-24785	254	41	at	at	ADP
fbem-24785	254	42	the	the	DET
fbem-24785	254	43	1	1	NUM
fbem-24785	254	44	%	%	NOUN
fbem-24785	254	45	level	level	NOUN
fbem-24785	254	46	,	,	PUNCT
fbem-24785	254	47	that	that	ADV
fbem-24785	254	48	is	is	ADV
fbem-24785	254	49	,	,	PUNCT
fbem-24785	254	50	bond	bond	NOUN
fbem-24785	254	51	financing	financing	NOUN
fbem-24785	254	52	will	will	AUX
fbem-24785	254	53	aggravate	aggravate	VERB
fbem-24785	254	54	the	the	DET
fbem-24785	254	55	financial	financial	ADJ
fbem-24785	254	56	vulnerability	vulnerability	NOUN
fbem-24785	254	57	of	of	ADP
fbem-24785	254	58	enterprises	enterprise	NOUN
fbem-24785	254	59	.	.	PUNCT
fbem-24785	255	1	the	the	DET
fbem-24785	255	2	issuance	issuance	NOUN
fbem-24785	255	3	of	of	ADP
fbem-24785	255	4	corporate	corporate	ADJ
fbem-24785	255	5	bonds	bond	NOUN
fbem-24785	255	6	will	will	AUX
fbem-24785	255	7	change	change	VERB
fbem-24785	255	8	with	with	ADP
fbem-24785	255	9	the	the	DET
fbem-24785	255	10	change	change	NOUN
fbem-24785	255	11	of	of	ADP
fbem-24785	255	12	economic	economic	ADJ
fbem-24785	255	13	environment	environment	NOUN
fbem-24785	255	14	.	.	PUNCT
fbem-24785	256	1	although	although	SCONJ
fbem-24785	256	2	the	the	DET
fbem-24785	256	3	degree	degree	NOUN
fbem-24785	256	4	of	of	ADP
fbem-24785	256	5	financing	financing	NOUN
fbem-24785	256	6	constraints	constraint	NOUN
fbem-24785	256	7	is	be	AUX
fbem-24785	256	8	low	low	ADJ
fbem-24785	256	9	,	,	PUNCT
fbem-24785	256	10	which	which	PRON
fbem-24785	256	11	enables	enable	VERB
fbem-24785	256	12	enterprises	enterprise	NOUN
fbem-24785	256	13	to	to	PART
fbem-24785	256	14	obtain	obtain	VERB
fbem-24785	256	15	sufficient	sufficient	ADJ
fbem-24785	256	16	funds	fund	NOUN
fbem-24785	256	17	,	,	PUNCT
fbem-24785	256	18	its	its	PRON
fbem-24785	256	19	sensitivity	sensitivity	NOUN
fbem-24785	256	20	is	be	AUX
fbem-24785	256	21	high	high	ADJ
fbem-24785	256	22	.	.	PUNCT
fbem-24785	257	1	the	the	DET
fbem-24785	257	2	fluctuation	fluctuation	NOUN
fbem-24785	257	3	of	of	ADP
fbem-24785	257	4	economic	economic	ADJ
fbem-24785	257	5	environment	environment	NOUN
fbem-24785	257	6	will	will	AUX
fbem-24785	257	7	lead	lead	VERB
fbem-24785	257	8	to	to	ADP
fbem-24785	257	9	the	the	DET
fbem-24785	257	10	increase	increase	NOUN
fbem-24785	257	11	of	of	ADP
fbem-24785	257	12	bond	bond	NOUN
fbem-24785	257	13	financing	financing	NOUN
fbem-24785	257	14	costs	cost	NOUN
fbem-24785	257	15	.	.	PUNCT
fbem-24785	258	1	the	the	DET
fbem-24785	258	2	bond	bond	NOUN
fbem-24785	258	3	credit	credit	NOUN
fbem-24785	258	4	rating	rating	NOUN
fbem-24785	258	5	will	will	AUX
fbem-24785	258	6	have	have	VERB
fbem-24785	258	7	a	a	DET
fbem-24785	258	8	negative	negative	ADJ
fbem-24785	258	9	interference	interference	NOUN
fbem-24785	258	10	,	,	PUNCT
fbem-24785	258	11	which	which	PRON
fbem-24785	258	12	will	will	AUX
fbem-24785	258	13	be	be	AUX
fbem-24785	258	14	more	more	ADV
fbem-24785	258	15	affected	affected	ADJ
fbem-24785	258	16	,	,	PUNCT
fbem-24785	258	17	increase	increase	VERB
fbem-24785	258	18	the	the	DET
fbem-24785	258	19	financial	financial	ADJ
fbem-24785	258	20	pressure	pressure	NOUN
fbem-24785	258	21	of	of	ADP
fbem-24785	258	22	enterprises	enterprise	NOUN
fbem-24785	258	23	and	and	CCONJ
fbem-24785	258	24	increase	increase	VERB
fbem-24785	258	25	the	the	DET
fbem-24785	258	26	financial	financial	ADJ
fbem-24785	258	27	vulnerability	vulnerability	NOUN
fbem-24785	258	28	of	of	ADP
fbem-24785	258	29	enterprises	enterprise	NOUN
fbem-24785	258	30	.	.	PUNCT
fbem-24785	259	1	table	table	NOUN
fbem-24785	259	2	6	6	NUM
fbem-24785	259	3	.	.	PUNCT
fbem-24785	260	1	analysis	analysis	NOUN
fbem-24785	260	2	of	of	ADP
fbem-24785	260	3	financing	financing	NOUN
fbem-24785	260	4	constraints	constraint	NOUN
fbem-24785	260	5	variables	variable	VERB
fbem-24785	260	6	low	low	ADJ
fbem-24785	260	7	financing	financing	NOUN
fbem-24785	260	8	constraints	constraint	NOUN
fbem-24785	260	9	high	high	ADJ
fbem-24785	260	10	financing	financing	NOUN
fbem-24785	260	11	constraints	constraint	NOUN
fbem-24785	260	12	(	(	PUNCT
fbem-24785	260	13	1	1	NUM
fbem-24785	260	14	)	)	PUNCT
fbem-24785	260	15	(	(	PUNCT
fbem-24785	260	16	2	2	NUM
fbem-24785	260	17	)	)	PUNCT
fbem-24785	260	18	(	(	PUNCT
fbem-24785	260	19	3	3	X
fbem-24785	260	20	)	)	PUNCT
fbem-24785	260	21	(	(	PUNCT
fbem-24785	260	22	4	4	NUM
fbem-24785	260	23	)	)	PUNCT
fbem-24785	260	24	(	(	PUNCT
fbem-24785	260	25	5	5	NUM
fbem-24785	260	26	)	)	PUNCT
fbem-24785	260	27	(	(	PUNCT
fbem-24785	260	28	6	6	NUM
fbem-24785	260	29	)	)	PUNCT
fbem-24785	260	30	z	z	NOUN
fbem-24785	260	31	-	-	PUNCT
fbem-24785	260	32	score	score	NOUN
fbem-24785	260	33	z	z	NOUN
fbem-24785	260	34	-	-	PUNCT
fbem-24785	260	35	score	score	NOUN
fbem-24785	260	36	z	z	NOUN
fbem-24785	260	37	-	-	PUNCT
fbem-24785	260	38	score	score	NOUN
fbem-24785	260	39	z	z	NOUN
fbem-24785	260	40	-	-	PUNCT
fbem-24785	260	41	score	score	NOUN
fbem-24785	260	42	z	z	NOUN
fbem-24785	260	43	-	-	PUNCT
fbem-24785	260	44	score	score	NOUN
fbem-24785	260	45	z	z	NOUN
fbem-24785	260	46	-	-	PUNCT
fbem-24785	260	47	score	score	NOUN
fbem-24785	260	48	epu	epu	NOUN
fbem-24785	260	49	-0.002	-0.002	PUNCT
fbem-24785	260	50	*	*	PUNCT
fbem-24785	260	51	*	*	PUNCT
fbem-24785	260	52	*	*	PUNCT
fbem-24785	260	53	-0.002	-0.002	PUNCT
fbem-24785	260	54	*	*	PUNCT
fbem-24785	260	55	*	*	PUNCT
fbem-24785	260	56	*	*	PUNCT
fbem-24785	260	57	-0.001	-0.001	PUNCT
fbem-24785	261	1	*	*	PUNCT
fbem-24785	261	2	*	*	PUNCT
fbem-24785	261	3	*	*	PUNCT
fbem-24785	261	4	-0.005	-0.005	PUNCT
fbem-24785	262	1	*	*	PUNCT
fbem-24785	262	2	*	*	PUNCT
fbem-24785	262	3	*	*	PUNCT
fbem-24785	262	4	-0.004	-0.004	PUNCT
fbem-24785	262	5	*	*	PUNCT
fbem-24785	262	6	*	*	PUNCT
fbem-24785	262	7	*	*	PUNCT
fbem-24785	262	8	-0.002	-0.002	PUNCT
fbem-24785	262	9	*	*	PUNCT
fbem-24785	262	10	*	*	PUNCT
fbem-24785	262	11	(	(	PUNCT
fbem-24785	262	12	-7.52	-7.52	NOUN
fbem-24785	262	13	)	)	PUNCT
fbem-24785	262	14	(	(	PUNCT
fbem-24785	262	15	-6.82	-6.82	NUM
fbem-24785	262	16	)	)	PUNCT
fbem-24785	262	17	(	(	PUNCT
fbem-24785	262	18	-3.73	-3.73	NUM
fbem-24785	262	19	)	)	PUNCT
fbem-24785	262	20	(	(	PUNCT
fbem-24785	262	21	-5.97	-5.97	NOUN
fbem-24785	262	22	)	)	PUNCT
fbem-24785	262	23	(	(	PUNCT
fbem-24785	262	24	-4.62	-4.62	NUM
fbem-24785	262	25	)	)	PUNCT
fbem-24785	262	26	(	(	PUNCT
fbem-24785	262	27	-2.26	-2.26	X
fbem-24785	262	28	)	)	PUNCT
fbem-24785	262	29	creditdebt	creditdebt	NOUN
fbem-24785	262	30	-4.760	-4.760	NOUN
fbem-24785	262	31	*	*	PUNCT
fbem-24785	262	32	*	*	PUNCT
fbem-24785	262	33	*	*	PUNCT
fbem-24785	262	34	-11.137	-11.137	NOUN
fbem-24785	262	35	*	*	PUNCT
fbem-24785	262	36	*	*	PUNCT
fbem-24785	262	37	*	*	PUNCT
fbem-24785	262	38	(	(	PUNCT
fbem-24785	262	39	-8.42	-8.42	INTJ
fbem-24785	262	40	)	)	PUNCT
fbem-24785	262	41	(	(	PUNCT
fbem-24785	262	42	-7.93	-7.93	NOUN
fbem-24785	262	43	)	)	PUNCT
fbem-24785	262	44	creditdebt×epu	creditdebt×epu	NOUN
fbem-24785	263	1	0.010	0.010	NUM
fbem-24785	263	2	*	*	PUNCT
fbem-24785	263	3	*	*	PUNCT
fbem-24785	263	4	*	*	PUNCT
fbem-24785	263	5	0.033	0.033	NUM
fbem-24785	263	6	*	*	PUNCT
fbem-24785	263	7	*	*	PUNCT
fbem-24785	263	8	*	*	PUNCT
fbem-24785	263	9	(	(	PUNCT
fbem-24785	263	10	6.53	6.53	NUM
fbem-24785	263	11	)	)	PUNCT
fbem-24785	263	12	(	(	PUNCT
fbem-24785	263	13	5.86	5.86	NUM
fbem-24785	263	14	)	)	PUNCT
fbem-24785	263	15	bankdebt	bankdebt	NOUN
fbem-24785	263	16	6.143	6.143	NOUN
fbem-24785	263	17	*	*	PUNCT
fbem-24785	263	18	*	*	PUNCT
fbem-24785	264	1	10.007	10.007	NUM
fbem-24785	264	2	*	*	NOUN
fbem-24785	264	3	*	*	PUNCT
fbem-24785	264	4	(	(	PUNCT
fbem-24785	264	5	2.37	2.37	NUM
fbem-24785	264	6	)	)	PUNCT
fbem-24785	264	7	(	(	PUNCT
fbem-24785	264	8	1.99	1.99	NUM
fbem-24785	264	9	)	)	PUNCT
fbem-24785	264	10	bankdebt×epu	bankdebt×epu	X
fbem-24785	265	1	0.006	0.006	NUM
fbem-24785	265	2	*	*	PUNCT
fbem-24785	265	3	*	*	PUNCT
fbem-24785	265	4	*	*	X
fbem-24785	265	5	0.016	0.016	NUM
fbem-24785	265	6	*	*	PUNCT
fbem-24785	265	7	*	*	PUNCT
fbem-24785	265	8	*	*	PUNCT
fbem-24785	265	9	(	(	PUNCT
fbem-24785	265	10	5.54	5.54	NUM
fbem-24785	265	11	)	)	PUNCT
fbem-24785	265	12	(	(	PUNCT
fbem-24785	265	13	4.53	4.53	NUM
fbem-24785	265	14	)	)	PUNCT
fbem-24785	265	15	bonddebt	bonddebt	NOUN
fbem-24785	265	16	-2.285	-2.285	PROPN
fbem-24785	265	17	*	*	PUNCT
fbem-24785	265	18	*	*	PUNCT
fbem-24785	265	19	*	*	PUNCT
fbem-24785	265	20	-2.592	-2.592	PUNCT
fbem-24785	265	21	(	(	PUNCT
fbem-24785	265	22	-2.69	-2.69	NOUN
fbem-24785	265	23	)	)	PUNCT
fbem-24785	265	24	(	(	PUNCT
fbem-24785	265	25	-0.98	-0.98	NUM
fbem-24785	265	26	)	)	PUNCT
fbem-24785	265	27	bonddebt×epu	bonddebt×epu	ADP
fbem-24785	265	28	0.002	0.002	NUM
fbem-24785	265	29	0.012	0.012	NUM
fbem-24785	265	30	(	(	PUNCT
fbem-24785	265	31	0.77	0.77	NUM
fbem-24785	265	32	)	)	PUNCT
fbem-24785	265	33	(	(	PUNCT
fbem-24785	265	34	1.19	1.19	NUM
fbem-24785	265	35	)	)	PUNCT
fbem-24785	265	36	controls	control	NOUN
fbem-24785	265	37	yes	yes	INTJ
fbem-24785	266	1	yes	yes	INTJ
fbem-24785	267	1	yes	yes	INTJ
fbem-24785	268	1	yes	yes	INTJ
fbem-24785	269	1	yes	yes	INTJ
fbem-24785	269	2	yes	yes	INTJ
fbem-24785	269	3	constant	constant	ADJ
fbem-24785	269	4	-2.803	-2.803	NOUN
fbem-24785	269	5	*	*	PUNCT
fbem-24785	269	6	*	*	PUNCT
fbem-24785	269	7	*	*	PUNCT
fbem-24785	269	8	-3.503	-3.503	NOUN
fbem-24785	269	9	*	*	PUNCT
fbem-24785	269	10	*	*	PUNCT
fbem-24785	269	11	*	*	PUNCT
fbem-24785	269	12	-3.511	-3.511	PUNCT
fbem-24785	269	13	*	*	PUNCT
fbem-24785	269	14	*	*	PUNCT
fbem-24785	269	15	*	*	PUNCT
fbem-24785	269	16	-11.281	-11.281	NOUN
fbem-24785	269	17	*	*	PUNCT
fbem-24785	269	18	*	*	PUNCT
fbem-24785	269	19	*	*	PUNCT
fbem-24785	269	20	-13.291	-13.291	ADJ
fbem-24785	269	21	*	*	PUNCT
fbem-24785	269	22	*	*	PUNCT
fbem-24785	269	23	*	*	PUNCT
fbem-24785	269	24	-14.026	-14.026	NOUN
fbem-24785	269	25	*	*	PUNCT
fbem-24785	269	26	*	*	PUNCT
fbem-24785	269	27	*	*	PUNCT
fbem-24785	269	28	(	(	PUNCT
fbem-24785	269	29	-3.99	-3.99	NOUN
fbem-24785	269	30	)	)	PUNCT
fbem-24785	269	31	(	(	PUNCT
fbem-24785	269	32	-5.01	-5.01	NOUN
fbem-24785	269	33	)	)	PUNCT
fbem-24785	269	34	(	(	PUNCT
fbem-24785	269	35	-4.99	-4.99	NUM
fbem-24785	269	36	)	)	PUNCT
fbem-24785	269	37	(	(	PUNCT
fbem-24785	269	38	-5.25	-5.25	NUM
fbem-24785	269	39	)	)	PUNCT
fbem-24785	269	40	(	(	PUNCT
fbem-24785	269	41	-6.23	-6.23	X
fbem-24785	269	42	)	)	PUNCT
fbem-24785	269	43	(	(	PUNCT
fbem-24785	269	44	-6.47	-6.47	X
fbem-24785	269	45	)	)	PUNCT
fbem-24785	269	46	observations	observation	NOUN
fbem-24785	269	47	5,970	5,970	NUM
fbem-24785	269	48	5,970	5,970	NUM
fbem-24785	269	49	5,970	5,970	NUM
fbem-24785	269	50	5,970	5,970	NUM
fbem-24785	269	51	5,970	5,970	NUM
fbem-24785	269	52	5,970	5,970	NUM
fbem-24785	269	53	r	r	NOUN
fbem-24785	269	54	-	-	PUNCT
fbem-24785	269	55	squared	square	VERB
fbem-24785	269	56	0.740	0.740	NUM
fbem-24785	269	57	0.739	0.739	NUM
fbem-24785	269	58	0.738	0.738	NUM
fbem-24785	269	59	0.697	0.697	NUM
fbem-24785	269	60	0.695	0.695	NUM
fbem-24785	269	61	0.694	0.694	NUM
fbem-24785	269	62	ind	ind	NOUN
fbem-24785	270	1	yes	yes	INTJ
fbem-24785	271	1	yes	yes	INTJ
fbem-24785	272	1	yes	yes	INTJ
fbem-24785	273	1	yes	yes	INTJ
fbem-24785	274	1	yes	yes	INTJ
fbem-24785	275	1	yes	yes	INTJ
fbem-24785	275	2	year	year	NOUN
fbem-24785	276	1	yes	yes	INTJ
fbem-24785	277	1	yes	yes	INTJ
fbem-24785	278	1	yes	yes	INTJ
fbem-24785	279	1	yes	yes	INTJ
fbem-24785	280	1	yes	yes	INTJ
fbem-24785	281	1	yes	yes	INTJ
fbem-24785	281	2	413	413	NUM
fbem-24785	281	3	note	note	NOUN
fbem-24785	281	4	:	:	PUNCT
fbem-24785	281	5	the	the	DET
fbem-24785	281	6	t	t	NOUN
fbem-24785	281	7	value	value	NOUN
fbem-24785	281	8	is	be	AUX
fbem-24785	281	9	in	in	ADP
fbem-24785	281	10	parentheses	parenthesis	NOUN
fbem-24785	281	11	,	,	PUNCT
fbem-24785	281	12	and	and	CCONJ
fbem-24785	282	1	*	*	PUNCT
fbem-24785	282	2	*	*	PUNCT
fbem-24785	283	1	*	*	PUNCT
fbem-24785	283	2	,	,	PUNCT
fbem-24785	283	3	*	*	PUNCT
fbem-24785	283	4	*	*	PUNCT
fbem-24785	283	5	,	,	PUNCT
fbem-24785	283	6	*	*	PUNCT
fbem-24785	283	7	are	be	AUX
fbem-24785	283	8	significant	significant	ADJ
fbem-24785	283	9	at	at	ADP
fbem-24785	283	10	1	1	NUM
fbem-24785	283	11	%	%	NOUN
fbem-24785	283	12	,	,	PUNCT
fbem-24785	283	13	5	5	NUM
fbem-24785	283	14	%	%	NOUN
fbem-24785	283	15	,	,	PUNCT
fbem-24785	283	16	and	and	CCONJ
fbem-24785	283	17	10	10	NUM
fbem-24785	283	18	%	%	NOUN
fbem-24785	283	19	,	,	PUNCT
fbem-24785	283	20	respectively	respectively	ADV
fbem-24785	283	21	.	.	PUNCT
fbem-24785	284	1	7	7	X
fbem-24785	284	2	.	.	X
fbem-24785	284	3	conclusion	conclusion	NOUN
fbem-24785	284	4	and	and	CCONJ
fbem-24785	284	5	enlightenment	enlightenment	NOUN
fbem-24785	284	6	this	this	DET
fbem-24785	284	7	paper	paper	NOUN
fbem-24785	284	8	takes	take	VERB
fbem-24785	284	9	china	china	PROPN
fbem-24785	284	10	's	's	PART
fbem-24785	284	11	shanghai	shanghai	PROPN
fbem-24785	284	12	and	and	CCONJ
fbem-24785	284	13	shenzhen	shenzhen	PROPN
fbem-24785	284	14	a	a	PROPN
fbem-24785	284	15	-	-	PUNCT
fbem-24785	284	16	share	share	NOUN
fbem-24785	284	17	listed	list	VERB
fbem-24785	284	18	companies	company	NOUN
fbem-24785	284	19	from	from	ADP
fbem-24785	284	20	2010	2010	NUM
fbem-24785	284	21	to	to	ADP
fbem-24785	284	22	2021	2021	NUM
fbem-24785	284	23	as	as	ADP
fbem-24785	284	24	the	the	DET
fbem-24785	284	25	research	research	NOUN
fbem-24785	284	26	object	object	NOUN
fbem-24785	284	27	,	,	PUNCT
fbem-24785	284	28	and	and	CCONJ
fbem-24785	284	29	on	on	ADP
fbem-24785	284	30	the	the	DET
fbem-24785	284	31	basis	basis	NOUN
fbem-24785	284	32	of	of	ADP
fbem-24785	284	33	distinguishing	distinguish	VERB
fbem-24785	284	34	different	different	ADJ
fbem-24785	284	35	financing	financing	NOUN
fbem-24785	284	36	modes	mode	NOUN
fbem-24785	284	37	,	,	PUNCT
fbem-24785	284	38	discusses	discuss	VERB
fbem-24785	284	39	the	the	DET
fbem-24785	284	40	impact	impact	NOUN
fbem-24785	284	41	of	of	ADP
fbem-24785	284	42	debt	debt	NOUN
fbem-24785	284	43	financing	financing	NOUN
fbem-24785	284	44	on	on	ADP
fbem-24785	284	45	alleviating	alleviate	VERB
fbem-24785	284	46	economic	economic	ADJ
fbem-24785	284	47	policy	policy	NOUN
fbem-24785	284	48	uncertainty	uncertainty	NOUN
fbem-24785	284	49	and	and	CCONJ
fbem-24785	284	50	corporate	corporate	ADJ
fbem-24785	284	51	financial	financial	ADJ
fbem-24785	284	52	vulnerability	vulnerability	NOUN
fbem-24785	284	53	in	in	ADP
fbem-24785	284	54	china	china	PROPN
fbem-24785	284	55	's	's	PART
fbem-24785	284	56	capital	capital	NOUN
fbem-24785	284	57	market	market	NOUN
fbem-24785	284	58	.	.	PUNCT
fbem-24785	285	1	the	the	DET
fbem-24785	285	2	study	study	NOUN
fbem-24785	285	3	found	find	VERB
fbem-24785	285	4	that	that	SCONJ
fbem-24785	285	5	economic	economic	ADJ
fbem-24785	285	6	policy	policy	NOUN
fbem-24785	285	7	uncertainty	uncertainty	NOUN
fbem-24785	285	8	has	have	VERB
fbem-24785	285	9	a	a	DET
fbem-24785	285	10	positive	positive	ADJ
fbem-24785	285	11	effect	effect	NOUN
fbem-24785	285	12	on	on	ADP
fbem-24785	285	13	corporate	corporate	ADJ
fbem-24785	285	14	financial	financial	ADJ
fbem-24785	285	15	vulnerability	vulnerability	NOUN
fbem-24785	285	16	,	,	PUNCT
fbem-24785	285	17	that	that	ADV
fbem-24785	285	18	is	is	ADV
fbem-24785	285	19	,	,	PUNCT
fbem-24785	285	20	when	when	SCONJ
fbem-24785	285	21	economic	economic	ADJ
fbem-24785	285	22	policy	policy	NOUN
fbem-24785	285	23	uncertainty	uncertainty	NOUN
fbem-24785	285	24	increases	increase	VERB
fbem-24785	285	25	,	,	PUNCT
fbem-24785	285	26	it	it	PRON
fbem-24785	285	27	will	will	AUX
fbem-24785	285	28	aggravate	aggravate	VERB
fbem-24785	285	29	the	the	DET
fbem-24785	285	30	financial	financial	ADJ
fbem-24785	285	31	vulnerability	vulnerability	NOUN
fbem-24785	285	32	of	of	ADP
fbem-24785	285	33	enterprises	enterprise	NOUN
fbem-24785	285	34	;	;	PUNCT
fbem-24785	285	35	different	different	ADJ
fbem-24785	285	36	debt	debt	NOUN
fbem-24785	285	37	financing	financing	NOUN
fbem-24785	285	38	of	of	ADP
fbem-24785	285	39	enterprises	enterprise	NOUN
fbem-24785	285	40	makes	make	VERB
fbem-24785	285	41	enterprises	enterprise	NOUN
fbem-24785	285	42	have	have	VERB
fbem-24785	285	43	different	different	ADJ
fbem-24785	285	44	effects	effect	NOUN
fbem-24785	285	45	in	in	ADP
fbem-24785	285	46	the	the	DET
fbem-24785	285	47	face	face	NOUN
fbem-24785	285	48	of	of	ADP
fbem-24785	285	49	external	external	ADJ
fbem-24785	285	50	shocks	shock	NOUN
fbem-24785	285	51	.	.	PUNCT
fbem-24785	286	1	bank	bank	NOUN
fbem-24785	286	2	loans	loan	NOUN
fbem-24785	286	3	and	and	CCONJ
fbem-24785	286	4	credit	credit	NOUN
fbem-24785	286	5	financing	financing	NOUN
fbem-24785	286	6	can	can	AUX
fbem-24785	286	7	alleviate	alleviate	VERB
fbem-24785	286	8	the	the	DET
fbem-24785	286	9	impact	impact	NOUN
fbem-24785	286	10	of	of	ADP
fbem-24785	286	11	economic	economic	ADJ
fbem-24785	286	12	policy	policy	NOUN
fbem-24785	286	13	uncertainty	uncertainty	NOUN
fbem-24785	286	14	on	on	ADP
fbem-24785	286	15	corporate	corporate	ADJ
fbem-24785	286	16	financial	financial	ADJ
fbem-24785	286	17	vulnerability	vulnerability	NOUN
fbem-24785	286	18	,	,	PUNCT
fbem-24785	286	19	while	while	SCONJ
fbem-24785	286	20	the	the	DET
fbem-24785	286	21	mitigation	mitigation	NOUN
fbem-24785	286	22	effect	effect	NOUN
fbem-24785	286	23	of	of	ADP
fbem-24785	286	24	bond	bond	NOUN
fbem-24785	286	25	financing	financing	NOUN
fbem-24785	286	26	is	be	AUX
fbem-24785	286	27	not	not	PART
fbem-24785	286	28	obvious	obvious	ADJ
fbem-24785	286	29	.	.	PUNCT
fbem-24785	287	1	further	far	ADV
fbem-24785	287	2	,	,	PUNCT
fbem-24785	287	3	it	it	PRON
fbem-24785	287	4	is	be	AUX
fbem-24785	287	5	found	find	VERB
fbem-24785	287	6	that	that	SCONJ
fbem-24785	287	7	corporate	corporate	ADJ
fbem-24785	287	8	bond	bond	NOUN
fbem-24785	287	9	financing	financing	NOUN
fbem-24785	287	10	will	will	AUX
fbem-24785	287	11	aggravate	aggravate	VERB
fbem-24785	287	12	corporate	corporate	ADJ
fbem-24785	287	13	financial	financial	ADJ
fbem-24785	287	14	vulnerability	vulnerability	NOUN
fbem-24785	287	15	in	in	ADP
fbem-24785	287	16	non	non	ADJ
fbem-24785	287	17	-	-	ADJ
fbem-24785	287	18	manufacturing	manufacturing	ADJ
fbem-24785	287	19	,	,	PUNCT
fbem-24785	287	20	large	large	ADJ
fbem-24785	287	21	enterprises	enterprise	NOUN
fbem-24785	287	22	and	and	CCONJ
fbem-24785	287	23	low	low	ADJ
fbem-24785	287	24	financing	financing	NOUN
fbem-24785	287	25	constraints	constraint	NOUN
fbem-24785	287	26	.	.	PUNCT
fbem-24785	288	1	from	from	ADP
fbem-24785	288	2	the	the	DET
fbem-24785	288	3	research	research	NOUN
fbem-24785	288	4	conclusions	conclusion	NOUN
fbem-24785	288	5	of	of	ADP
fbem-24785	288	6	this	this	DET
fbem-24785	288	7	paper	paper	NOUN
fbem-24785	288	8	,	,	PUNCT
fbem-24785	288	9	the	the	DET
fbem-24785	288	10	following	follow	VERB
fbem-24785	288	11	policy	policy	NOUN
fbem-24785	288	12	recommendations	recommendation	NOUN
fbem-24785	288	13	are	be	AUX
fbem-24785	288	14	obtained	obtain	VERB
fbem-24785	288	15	:	:	PUNCT
fbem-24785	288	16	first	first	ADV
fbem-24785	288	17	,	,	PUNCT
fbem-24785	288	18	at	at	ADP
fbem-24785	288	19	the	the	DET
fbem-24785	288	20	market	market	NOUN
fbem-24785	288	21	level	level	NOUN
fbem-24785	288	22	,	,	PUNCT
fbem-24785	288	23	strengthen	strengthen	VERB
fbem-24785	288	24	the	the	DET
fbem-24785	288	25	construction	construction	NOUN
fbem-24785	288	26	of	of	ADP
fbem-24785	288	27	china	china	PROPN
fbem-24785	288	28	's	's	PART
fbem-24785	288	29	capital	capital	NOUN
fbem-24785	288	30	market	market	NOUN
fbem-24785	288	31	,	,	PUNCT
fbem-24785	288	32	consolidate	consolidate	VERB
fbem-24785	288	33	the	the	DET
fbem-24785	288	34	high	high	ADJ
fbem-24785	288	35	-	-	PUNCT
fbem-24785	288	36	quality	quality	NOUN
fbem-24785	288	37	development	development	NOUN
fbem-24785	288	38	of	of	ADP
fbem-24785	288	39	the	the	DET
fbem-24785	288	40	capital	capital	NOUN
fbem-24785	288	41	market	market	NOUN
fbem-24785	288	42	,	,	PUNCT
fbem-24785	288	43	broaden	broaden	VERB
fbem-24785	288	44	and	and	CCONJ
fbem-24785	288	45	improve	improve	VERB
fbem-24785	288	46	the	the	DET
fbem-24785	288	47	financing	financing	NOUN
fbem-24785	288	48	channels	channel	NOUN
fbem-24785	288	49	of	of	ADP
fbem-24785	288	50	enterprises	enterprise	NOUN
fbem-24785	288	51	,	,	PUNCT
fbem-24785	288	52	optimize	optimize	VERB
fbem-24785	288	53	the	the	DET
fbem-24785	288	54	allocation	allocation	NOUN
fbem-24785	288	55	of	of	ADP
fbem-24785	288	56	resources	resource	NOUN
fbem-24785	288	57	,	,	PUNCT
fbem-24785	288	58	increase	increase	VERB
fbem-24785	288	59	the	the	DET
fbem-24785	288	60	proportion	proportion	NOUN
fbem-24785	288	61	of	of	ADP
fbem-24785	288	62	direct	direct	ADJ
fbem-24785	288	63	financing	financing	NOUN
fbem-24785	288	64	such	such	ADJ
fbem-24785	288	65	as	as	ADP
fbem-24785	288	66	bonds	bond	NOUN
fbem-24785	288	67	and	and	CCONJ
fbem-24785	288	68	stocks	stock	NOUN
fbem-24785	288	69	,	,	PUNCT
fbem-24785	288	70	and	and	CCONJ
fbem-24785	288	71	promote	promote	VERB
fbem-24785	288	72	financial	financial	ADJ
fbem-24785	288	73	reform	reform	NOUN
fbem-24785	288	74	.	.	PUNCT
fbem-24785	289	1	strengthen	strengthen	VERB
fbem-24785	289	2	the	the	DET
fbem-24785	289	3	supervision	supervision	NOUN
fbem-24785	289	4	of	of	ADP
fbem-24785	289	5	corporate	corporate	ADJ
fbem-24785	289	6	information	information	NOUN
fbem-24785	289	7	disclosure	disclosure	NOUN
fbem-24785	289	8	,	,	PUNCT
fbem-24785	289	9	reduce	reduce	VERB
fbem-24785	289	10	information	information	NOUN
fbem-24785	289	11	asymmetry	asymmetry	NOUN
fbem-24785	289	12	,	,	PUNCT
fbem-24785	289	13	reduce	reduce	VERB
fbem-24785	289	14	the	the	DET
fbem-24785	289	15	risk	risk	NOUN
fbem-24785	289	16	of	of	ADP
fbem-24785	289	17	economic	economic	ADJ
fbem-24785	289	18	policy	policy	NOUN
fbem-24785	289	19	uncertainty	uncertainty	NOUN
fbem-24785	289	20	,	,	PUNCT
fbem-24785	289	21	and	and	CCONJ
fbem-24785	289	22	alleviate	alleviate	VERB
fbem-24785	289	23	corporate	corporate	ADJ
fbem-24785	289	24	financial	financial	ADJ
fbem-24785	289	25	difficulties	difficulty	NOUN
fbem-24785	289	26	.	.	PUNCT
fbem-24785	290	1	secondly	secondly	ADV
fbem-24785	290	2	,	,	PUNCT
fbem-24785	290	3	at	at	ADP
fbem-24785	290	4	the	the	DET
fbem-24785	290	5	enterprise	enterprise	NOUN
fbem-24785	290	6	level	level	NOUN
fbem-24785	290	7	,	,	PUNCT
fbem-24785	290	8	we	we	PRON
fbem-24785	290	9	should	should	AUX
fbem-24785	290	10	reasonably	reasonably	ADV
fbem-24785	290	11	arrange	arrange	VERB
fbem-24785	290	12	the	the	DET
fbem-24785	290	13	financing	financing	NOUN
fbem-24785	290	14	structure	structure	NOUN
fbem-24785	290	15	,	,	PUNCT
fbem-24785	290	16	moderately	moderately	ADV
fbem-24785	290	17	reduce	reduce	VERB
fbem-24785	290	18	leverage	leverage	NOUN
fbem-24785	290	19	,	,	PUNCT
fbem-24785	290	20	improve	improve	VERB
fbem-24785	290	21	the	the	DET
fbem-24785	290	22	governance	governance	NOUN
fbem-24785	290	23	level	level	NOUN
fbem-24785	290	24	of	of	ADP
fbem-24785	290	25	enterprises	enterprise	NOUN
fbem-24785	290	26	,	,	PUNCT
fbem-24785	290	27	focus	focus	VERB
fbem-24785	290	28	on	on	ADP
fbem-24785	290	29	expanding	expand	VERB
fbem-24785	290	30	financing	financing	NOUN
fbem-24785	290	31	sources	source	NOUN
fbem-24785	290	32	,	,	PUNCT
fbem-24785	290	33	alleviate	alleviate	VERB
fbem-24785	290	34	financing	financing	NOUN
fbem-24785	290	35	constraints	constraint	NOUN
fbem-24785	290	36	,	,	PUNCT
fbem-24785	290	37	reduce	reduce	VERB
fbem-24785	290	38	comprehensive	comprehensive	ADJ
fbem-24785	290	39	financing	financing	NOUN
fbem-24785	290	40	costs	cost	NOUN
fbem-24785	290	41	,	,	PUNCT
fbem-24785	290	42	and	and	CCONJ
fbem-24785	290	43	enhance	enhance	VERB
fbem-24785	290	44	the	the	DET
fbem-24785	290	45	competitiveness	competitiveness	NOUN
fbem-24785	290	46	of	of	ADP
fbem-24785	290	47	enterprises	enterprise	NOUN
fbem-24785	290	48	.	.	PUNCT
fbem-24785	291	1	references	reference	NOUN
fbem-24785	291	2	[	[	X
fbem-24785	291	3	1	1	NUM
fbem-24785	291	4	]	]	PUNCT
fbem-24785	291	5	wang	wang	PROPN
fbem-24785	291	6	guogang	guogang	PROPN
fbem-24785	291	7	.	.	PUNCT
fbem-24785	292	1	“	"	PUNCT
fbem-24785	292	2	deleveraging	deleverage	VERB
fbem-24785	292	3	”	"	PUNCT
fbem-24785	292	4	:	:	PUNCT
fbem-24785	292	5	category	category	NOUN
fbem-24785	292	6	definition	definition	NOUN
fbem-24785	292	7	,	,	PUNCT
fbem-24785	292	8	operational	operational	ADJ
fbem-24785	292	9	focus	focus	NOUN
fbem-24785	292	10	and	and	CCONJ
fbem-24785	292	11	optional	optional	ADJ
fbem-24785	292	12	strategies	strategy	NOUN
fbem-24785	292	13	[	[	X
fbem-24785	292	14	j	j	X
fbem-24785	292	15	]	]	X
fbem-24785	292	16	.	.	PUNCT
fbem-24785	293	1	economics	economic	NOUN
fbem-24785	293	2	trends	trend	NOUN
fbem-24785	293	3	,	,	PUNCT
fbem-24785	293	4	2017	2017	NUM
fbem-24785	293	5	(	(	PUNCT
fbem-24785	293	6	07	07	NUM
fbem-24785	293	7	):	):	PUNCT
fbem-24785	293	8	16	16	NUM
fbem-24785	293	9	-	-	SYM
fbem-24785	293	10	25	25	NUM
fbem-24785	293	11	.	.	PUNCT
fbem-24785	294	1	[	[	X
fbem-24785	294	2	2	2	X
fbem-24785	294	3	]	]	X
fbem-24785	294	4	ma	ma	PROPN
fbem-24785	294	5	yongqiang	yongqiang	PROPN
fbem-24785	294	6	,	,	PUNCT
fbem-24785	294	7	zhang	zhang	PROPN
fbem-24785	294	8	zhiyuan	zhiyuan	PROPN
fbem-24785	294	9	.	.	PUNCT
fbem-24785	295	1	deleveraging	deleveraging	NOUN
fbem-24785	295	2	and	and	CCONJ
fbem-24785	295	3	financial	financial	ADJ
fbem-24785	295	4	asset	asset	NOUN
fbem-24785	295	5	allocation	allocation	NOUN
fbem-24785	295	6	of	of	ADP
fbem-24785	295	7	real	real	ADJ
fbem-24785	295	8	enterprises	enterprise	NOUN
fbem-24785	296	1	[	[	X
fbem-24785	296	2	j	j	X
fbem-24785	296	3	]	]	X
fbem-24785	296	4	.	.	PUNCT
fbem-24785	297	1	international	international	ADJ
fbem-24785	297	2	financial	financial	ADJ
fbem-24785	297	3	research	research	NOUN
fbem-24785	297	4	,	,	PUNCT
fbem-24785	297	5	2021	2021	NUM
fbem-24785	297	6	(	(	PUNCT
fbem-24785	297	7	12	12	NUM
fbem-24785	297	8	):	):	PUNCT
fbem-24785	297	9	14	14	NUM
fbem-24785	297	10	-	-	SYM
fbem-24785	297	11	23	23	NUM
fbem-24785	297	12	.	.	PUNCT
fbem-24785	298	1	[	[	X
fbem-24785	298	2	3	3	X
fbem-24785	298	3	]	]	X
fbem-24785	298	4	li	li	PROPN
fbem-24785	298	5	yongmei	yongmei	PROPN
fbem-24785	298	6	,	,	PUNCT
fbem-24785	298	7	pang	pang	NOUN
fbem-24785	298	8	haimin	haimin	NOUN
fbem-24785	298	9	,	,	PUNCT
fbem-24785	298	10	pang	pang	NOUN
fbem-24785	298	11	haiyong	haiyong	PROPN
fbem-24785	298	12	.	.	PUNCT
fbem-24785	299	1	research	research	NOUN
fbem-24785	299	2	on	on	ADP
fbem-24785	299	3	the	the	DET
fbem-24785	299	4	impact	impact	NOUN
fbem-24785	299	5	of	of	ADP
fbem-24785	299	6	financing	financing	NOUN
fbem-24785	299	7	constraints	constraint	NOUN
fbem-24785	299	8	on	on	ADP
fbem-24785	299	9	corporate	corporate	ADJ
fbem-24785	299	10	performancebased	performancebased	NOUN
fbem-24785	299	11	on	on	ADP
fbem-24785	299	12	the	the	DET
fbem-24785	299	13	perspective	perspective	NOUN
fbem-24785	299	14	of	of	ADP
fbem-24785	299	15	economic	economic	ADJ
fbem-24785	299	16	policy	policy	NOUN
fbem-24785	299	17	uncertainty	uncertainty	NOUN
fbem-24785	299	18	and	and	CCONJ
fbem-24785	299	19	internal	internal	ADJ
fbem-24785	299	20	control	control	NOUN
fbem-24785	300	1	[	[	X
fbem-24785	300	2	j	j	X
fbem-24785	300	3	]	]	X
fbem-24785	300	4	.	.	PUNCT
fbem-24785	301	1	friends	friend	NOUN
fbem-24785	301	2	of	of	ADP
fbem-24785	301	3	accounting	accounting	NOUN
fbem-24785	301	4	,	,	PUNCT
fbem-24785	301	5	2021	2021	NUM
fbem-24785	301	6	(	(	PUNCT
fbem-24785	301	7	02	02	NUM
fbem-24785	301	8	):	):	PUNCT
fbem-24785	301	9	49	49	NUM
fbem-24785	301	10	-	-	SYM
fbem-24785	301	11	55	55	NUM
fbem-24785	301	12	.	.	PUNCT
fbem-24785	302	1	[	[	X
fbem-24785	302	2	4	4	X
fbem-24785	302	3	]	]	X
fbem-24785	302	4	jiang	jiang	PROPN
fbem-24785	302	5	teng	teng	PROPN
fbem-24785	302	6	,	,	PUNCT
fbem-24785	302	7	zhang	zhang	PROPN
fbem-24785	302	8	yongji	yongji	PROPN
fbem-24785	302	9	,	,	PUNCT
fbem-24785	302	10	zhao	zhao	PROPN
fbem-24785	302	11	xiaoli	xiaoli	PROPN
fbem-24785	302	12	.	.	PUNCT
fbem-24785	303	1	economic	economic	ADJ
fbem-24785	303	2	policy	policy	NOUN
fbem-24785	303	3	uncertainty	uncertainty	NOUN
fbem-24785	303	4	and	and	CCONJ
fbem-24785	303	5	corporate	corporate	ADJ
fbem-24785	303	6	debt	debt	NOUN
fbem-24785	303	7	financing	financing	NOUN
fbem-24785	304	1	[	[	X
fbem-24785	304	2	j	j	X
fbem-24785	304	3	]	]	X
fbem-24785	304	4	.	.	PUNCT
fbem-24785	305	1	management	management	PROPN
fbem-24785	305	2	review	review	PROPN
fbem-24785	305	3	,	,	PUNCT
fbem-24785	305	4	2018	2018	NUM
fbem-24785	305	5	,	,	PUNCT
fbem-24785	305	6	30	30	NUM
fbem-24785	305	7	(	(	PUNCT
fbem-24785	305	8	03	03	NUM
fbem-24785	305	9	):	):	PUNCT
fbem-24785	305	10	29	29	NUM
fbem-24785	305	11	-	-	SYM
fbem-24785	305	12	39	39	NUM
fbem-24785	305	13	.	.	PUNCT
fbem-24785	306	1	[	[	X
fbem-24785	306	2	5	5	NUM
fbem-24785	306	3	]	]	X
fbem-24785	306	4	gulen	gulen	PROPN
fbem-24785	306	5	h.	h.	PROPN
fbem-24785	306	6	,	,	PUNCT
fbem-24785	306	7	ion	ion	NOUN
fbem-24785	306	8	m.	m.	NOUN
fbem-24785	306	9	policy	policy	NOUN
fbem-24785	306	10	uncertainty	uncertainty	NOUN
fbem-24785	306	11	and	and	CCONJ
fbem-24785	306	12	corporate	corporate	ADJ
fbem-24785	306	13	investment	investment	NOUN
fbem-24785	307	1	[	[	X
fbem-24785	307	2	j	j	X
fbem-24785	307	3	]	]	X
fbem-24785	307	4	.	.	PUNCT
fbem-24785	308	1	the	the	DET
fbem-24785	308	2	review	review	NOUN
fbem-24785	308	3	of	of	ADP
fbem-24785	308	4	financial	financial	ADJ
fbem-24785	308	5	studies	study	NOUN
fbem-24785	308	6	,	,	PUNCT
fbem-24785	308	7	2016	2016	NUM
fbem-24785	308	8	,	,	PUNCT
fbem-24785	308	9	29(3	29(3	NUM
fbem-24785	308	10	):	):	PUNCT
fbem-24785	308	11	523	523	NUM
fbem-24785	308	12	-	-	SYM
fbem-24785	308	13	564	564	NUM
fbem-24785	308	14	.	.	PUNCT
fbem-24785	309	1	[	[	X
fbem-24785	309	2	6	6	NUM
fbem-24785	309	3	]	]	PUNCT
fbem-24785	309	4	rao	rao	PROPN
fbem-24785	309	5	pingui	pingui	PROPN
fbem-24785	309	6	,	,	PUNCT
fbem-24785	309	7	yue	yue	PROPN
fbem-24785	309	8	heng	heng	PROPN
fbem-24785	309	9	,	,	PUNCT
fbem-24785	309	10	jiang	jiang	PROPN
fbem-24785	309	11	guohua	guohua	PROPN
fbem-24785	309	12	.	.	PUNCT
fbem-24785	310	1	research	research	NOUN
fbem-24785	310	2	on	on	ADP
fbem-24785	310	3	economic	economic	ADJ
fbem-24785	310	4	policy	policy	NOUN
fbem-24785	310	5	uncertainty	uncertainty	NOUN
fbem-24785	310	6	and	and	CCONJ
fbem-24785	310	7	corporate	corporate	ADJ
fbem-24785	310	8	investment	investment	NOUN
fbem-24785	310	9	behavior	behavior	NOUN
fbem-24785	311	1	[	[	X
fbem-24785	311	2	j	j	X
fbem-24785	311	3	]	]	X
fbem-24785	311	4	.	.	PUNCT
fbem-24785	312	1	world	world	NOUN
fbem-24785	312	2	economy	economy	NOUN
fbem-24785	312	3	,	,	PUNCT
fbem-24785	312	4	2017	2017	NUM
fbem-24785	312	5	,	,	PUNCT
fbem-24785	312	6	40	40	NUM
fbem-24785	312	7	(	(	PUNCT
fbem-24785	312	8	02	02	NUM
fbem-24785	312	9	):	):	PUNCT
fbem-24785	312	10	27	27	NUM
fbem-24785	312	11	-	-	SYM
fbem-24785	312	12	51	51	NUM
fbem-24785	312	13	.	.	PUNCT
fbem-24785	313	1	[	[	X
fbem-24785	313	2	7	7	X
fbem-24785	313	3	]	]	X
fbem-24785	313	4	han	han	PROPN
fbem-24785	313	5	liyan	liyan	PROPN
fbem-24785	313	6	,	,	PUNCT
fbem-24785	313	7	liu	liu	PROPN
fbem-24785	313	8	boyan	boyan	PROPN
fbem-24785	313	9	.	.	PUNCT
fbem-24785	314	1	corporate	corporate	ADJ
fbem-24785	314	2	governance	governance	NOUN
fbem-24785	314	3	,	,	PUNCT
fbem-24785	314	4	uncertainty	uncertainty	NOUN
fbem-24785	314	5	and	and	CCONJ
fbem-24785	314	6	cash	cash	NOUN
fbem-24785	314	7	value	value	NOUN
fbem-24785	315	1	[	[	X
fbem-24785	315	2	j	j	X
fbem-24785	315	3	]	]	X
fbem-24785	315	4	.	.	PUNCT
fbem-24785	316	1	economics	economic	NOUN
fbem-24785	316	2	(	(	PUNCT
fbem-24785	316	3	quarterly	quarterly	ADJ
fbem-24785	316	4	)	)	PUNCT
fbem-24785	316	5	,	,	PUNCT
fbem-24785	316	6	2011,10	2011,10	PROPN
fbem-24785	316	7	(	(	PUNCT
fbem-24785	316	8	02	02	NUM
fbem-24785	316	9	):	):	PUNCT
fbem-24785	316	10	523550	523550	NUM
fbem-24785	316	11	.	.	PUNCT
fbem-24785	317	1	[	[	X
fbem-24785	317	2	8	8	NUM
fbem-24785	317	3	]	]	PUNCT
fbem-24785	317	4	wang	wang	PROPN
fbem-24785	317	5	hongjian	hongjian	PROPN
fbem-24785	317	6	,	,	PUNCT
fbem-24785	317	7	li	li	PROPN
fbem-24785	317	8	qingyuan	qingyuan	PROPN
fbem-24785	317	9	,	,	PUNCT
fbem-24785	317	10	xing	xing	PROPN
fbem-24785	317	11	fei	fei	PROPN
fbem-24785	317	12	.	.	PUNCT
fbem-24785	318	1	economic	economic	ADJ
fbem-24785	318	2	policy	policy	NOUN
fbem-24785	318	3	uncertainty	uncertainty	NOUN
fbem-24785	318	4	,	,	PUNCT
fbem-24785	318	5	cash	cash	NOUN
fbem-24785	318	6	holding	holding	NOUN
fbem-24785	318	7	level	level	NOUN
fbem-24785	318	8	and	and	CCONJ
fbem-24785	318	9	its	its	PRON
fbem-24785	318	10	market	market	NOUN
fbem-24785	318	11	value	value	NOUN
fbem-24785	319	1	[	[	X
fbem-24785	319	2	j	j	X
fbem-24785	319	3	]	]	X
fbem-24785	319	4	.	.	PUNCT
fbem-24785	320	1	financial	financial	ADJ
fbem-24785	320	2	research	research	NOUN
fbem-24785	320	3	,	,	PUNCT
fbem-24785	320	4	2014	2014	NUM
fbem-24785	320	5	(	(	PUNCT
fbem-24785	320	6	09	09	NUM
fbem-24785	320	7	):	):	PUNCT
fbem-24785	320	8	53	53	NUM
fbem-24785	320	9	-	-	SYM
fbem-24785	320	10	68	68	NUM
fbem-24785	320	11	.	.	PUNCT
fbem-24785	321	1	[	[	X
fbem-24785	321	2	9	9	NUM
fbem-24785	321	3	]	]	X
fbem-24785	321	4	xiang	xiang	PROPN
fbem-24785	321	5	guyue	guyue	PROPN
fbem-24785	321	6	,	,	PUNCT
fbem-24785	321	7	zhou	zhou	PROPN
fbem-24785	321	8	xianping	xianping	PROPN
fbem-24785	321	9	,	,	PUNCT
fbem-24785	321	10	liu	liu	PROPN
fbem-24785	321	11	renfang	renfang	PROPN
fbem-24785	321	12	.	.	PUNCT
fbem-24785	322	1	economic	economic	ADJ
fbem-24785	322	2	policy	policy	NOUN
fbem-24785	322	3	uncertainty	uncertainty	NOUN
fbem-24785	322	4	,	,	PUNCT
fbem-24785	322	5	short	short	ADJ
fbem-24785	322	6	-	-	PUNCT
fbem-24785	322	7	term	term	NOUN
fbem-24785	322	8	debt	debt	NOUN
fbem-24785	322	9	and	and	CCONJ
fbem-24785	322	10	financial	financial	ADJ
fbem-24785	322	11	vulnerability	vulnerability	NOUN
fbem-24785	322	12	[	[	X
fbem-24785	322	13	j	j	X
fbem-24785	322	14	]	]	X
fbem-24785	322	15	.	.	PUNCT
fbem-24785	323	1	statistics	statistic	NOUN
fbem-24785	323	2	and	and	CCONJ
fbem-24785	323	3	decision	decision	NOUN
fbem-24785	323	4	-	-	PUNCT
fbem-24785	323	5	making	making	NOUN
fbem-24785	323	6	,	,	PUNCT
fbem-24785	323	7	2020	2020	NUM
fbem-24785	323	8	,	,	PUNCT
fbem-24785	323	9	36	36	NUM
fbem-24785	323	10	(	(	PUNCT
fbem-24785	323	11	20	20	NUM
fbem-24785	323	12	):	):	PUNCT
fbem-24785	323	13	131	131	NUM
fbem-24785	323	14	-	-	SYM
fbem-24785	323	15	135	135	NUM
fbem-24785	323	16	.	.	PUNCT
fbem-24785	324	1	[	[	X
fbem-24785	324	2	10	10	NUM
fbem-24785	324	3	]	]	X
fbem-24785	324	4	gong	gong	PROPN
fbem-24785	324	5	jiafeng	jiafeng	PROPN
fbem-24785	324	6	,	,	PUNCT
fbem-24785	324	7	xu	xu	PROPN
fbem-24785	324	8	bo	bo	PROPN
fbem-24785	324	9	.	.	PUNCT
fbem-24785	325	1	research	research	NOUN
fbem-24785	325	2	on	on	ADP
fbem-24785	325	3	financial	financial	ADJ
fbem-24785	325	4	vulnerability	vulnerability	NOUN
fbem-24785	325	5	of	of	ADP
fbem-24785	325	6	non	non	ADJ
fbem-24785	325	7	-	-	ADJ
fbem-24785	325	8	profit	profit	ADJ
fbem-24785	325	9	organizations	organization	NOUN
fbem-24785	326	1	[	[	X
fbem-24785	326	2	j	j	X
fbem-24785	326	3	]	]	X
fbem-24785	326	4	.	.	PUNCT
fbem-24785	326	5	investment	investment	NOUN
fbem-24785	326	6	and	and	CCONJ
fbem-24785	326	7	entrepreneurship	entrepreneurship	NOUN
fbem-24785	326	8	,	,	PUNCT
fbem-24785	326	9	2021,32	2021,32	NUM
fbem-24785	326	10	(	(	PUNCT
fbem-24785	326	11	19	19	NUM
fbem-24785	326	12	):	):	PUNCT
fbem-24785	326	13	214	214	NUM
fbem-24785	326	14	-	-	SYM
fbem-24785	326	15	216	216	NUM
fbem-24785	326	16	.	.	PUNCT
fbem-24785	327	1	[	[	X
fbem-24785	327	2	11	11	NUM
fbem-24785	327	3	]	]	X
fbem-24785	327	4	novita	novita	PROPN
fbem-24785	327	5	s	s	PROPN
fbem-24785	327	6	,	,	PUNCT
fbem-24785	327	7	tjahjadi	tjahjadi	NOUN
fbem-24785	327	8	b	b	PROPN
fbem-24785	327	9	,	,	PUNCT
fbem-24785	327	10	irwanto	irwanto	NOUN
fbem-24785	327	11	a.	a.	NOUN
fbem-24785	327	12	2018	2018	NUM
fbem-24785	327	13	.	.	PUNCT
fbem-24785	328	1	industry	industry	NOUN
fbem-24785	328	2	and	and	CCONJ
fbem-24785	328	3	financial	financial	ADJ
fbem-24785	328	4	crises	crisis	NOUN
fbem-24785	328	5	in	in	ADP
fbem-24785	328	6	fragile	fragile	ADJ
fbem-24785	328	7	and	and	CCONJ
fbem-24785	328	8	zombie	zombie	NOUN
fbem-24785	328	9	firms	firm	NOUN
fbem-24785	328	10	:	:	PUNCT
fbem-24785	328	11	does	do	AUX
fbem-24785	328	12	leverage	leverage	NOUN
fbem-24785	328	13	matter	matter	VERB
fbem-24785	328	14	?	?	PUNCT
fbem-24785	329	1	[	[	X
fbem-24785	329	2	j	j	X
fbem-24785	329	3	]	]	X
fbem-24785	329	4	.	.	PUNCT
fbem-24785	330	1	journal	journal	PROPN
fbem-24785	330	2	of	of	ADP
fbem-24785	330	3	business	business	PROPN
fbem-24785	330	4	economic	economic	PROPN
fbem-24785	330	5	review	review	NOUN
fbem-24785	330	6	,	,	PUNCT
fbem-24785	330	7	3(3	3(3	NUM
fbem-24785	330	8	)	)	PUNCT
fbem-24785	330	9	.	.	PUNCT
fbem-24785	331	1	[	[	X
fbem-24785	331	2	12	12	NUM
fbem-24785	331	3	]	]	X
fbem-24785	331	4	masdupi	masdupi	ADJ
fbem-24785	331	5	e	e	NOUN
fbem-24785	331	6	,	,	PUNCT
fbem-24785	331	7	tasman	tasman	PROPN
fbem-24785	331	8	a	a	NOUN
fbem-24785	331	9	,	,	PUNCT
fbem-24785	331	10	davista	davista	PROPN
fbem-24785	331	11	a.	a.	NOUN
fbem-24785	331	12	2018	2018	NUM
fbem-24785	331	13	.	.	PUNCT
fbem-24785	332	1	the	the	DET
fbem-24785	332	2	influence	influence	NOUN
fbem-24785	332	3	of	of	ADP
fbem-24785	332	4	liquidity	liquidity	NOUN
fbem-24785	332	5	,	,	PUNCT
fbem-24785	332	6	leverage	leverage	NOUN
fbem-24785	332	7	and	and	CCONJ
fbem-24785	332	8	profitability	profitability	NOUN
fbem-24785	332	9	on	on	ADP
fbem-24785	332	10	financial	financial	ADJ
fbem-24785	332	11	distress	distress	NOUN
fbem-24785	332	12	of	of	ADP
fbem-24785	332	13	listed	list	VERB
fbem-24785	332	14	manufacturing	manufacturing	NOUN
fbem-24785	332	15	companies	company	NOUN
fbem-24785	332	16	in	in	ADP
fbem-24785	332	17	indonesia	indonesia	PROPN
fbem-24785	333	1	[	[	X
fbem-24785	333	2	j	j	X
fbem-24785	333	3	]	]	X
fbem-24785	333	4	.	.	PUNCT
fbem-24785	334	1	advances	advance	NOUN
fbem-24785	334	2	in	in	ADP
fbem-24785	334	3	economics	economic	NOUN
fbem-24785	334	4	,	,	PUNCT
fbem-24785	334	5	business	business	NOUN
fbem-24785	334	6	and	and	CCONJ
fbem-24785	334	7	management	management	NOUN
fbem-24785	334	8	research	research	NOUN
fbem-24785	334	9	,	,	PUNCT
fbem-24785	334	10	57	57	NUM
fbem-24785	334	11	.	.	PUNCT
fbem-24785	335	1	[	[	X
fbem-24785	335	2	13	13	NUM
fbem-24785	335	3	]	]	X
fbem-24785	335	4	sun	sun	PROPN
fbem-24785	335	5	lin	lin	PROPN
fbem-24785	335	6	cong	cong	PROPN
fbem-24785	335	7	.	.	PUNCT
fbem-24785	336	1	economic	economic	ADJ
fbem-24785	336	2	policy	policy	NOUN
fbem-24785	336	3	uncertainty	uncertainty	NOUN
fbem-24785	336	4	and	and	CCONJ
fbem-24785	336	5	corporate	corporate	ADJ
fbem-24785	336	6	financial	financial	ADJ
fbem-24785	336	7	vulnerability	vulnerability	NOUN
fbem-24785	336	8	based	base	VERB
fbem-24785	336	9	on	on	ADP
fbem-24785	336	10	the	the	DET
fbem-24785	336	11	moderating	moderate	VERB
fbem-24785	336	12	effect	effect	NOUN
fbem-24785	336	13	of	of	ADP
fbem-24785	336	14	entrepreneurial	entrepreneurial	ADJ
fbem-24785	336	15	traits	trait	NOUN
fbem-24785	336	16	[	[	X
fbem-24785	336	17	j	j	X
fbem-24785	336	18	]	]	X
fbem-24785	336	19	.	.	PUNCT
fbem-24785	337	1	hainan	hainan	PROPN
fbem-24785	337	2	finance	finance	PROPN
fbem-24785	337	3	,	,	PUNCT
fbem-24785	337	4	2021	2021	NUM
fbem-24785	337	5	(	(	PUNCT
fbem-24785	337	6	03	03	NUM
fbem-24785	337	7	):	):	PUNCT
fbem-24785	337	8	37	37	NUM
fbem-24785	337	9	-	-	SYM
fbem-24785	337	10	48	48	NUM
fbem-24785	337	11	.	.	PUNCT
fbem-24785	338	1	[	[	X
fbem-24785	338	2	14	14	NUM
fbem-24785	338	3	]	]	X
fbem-24785	338	4	deng	deng	PROPN
fbem-24785	338	5	xidong	xidong	PROPN
fbem-24785	338	6	,	,	PUNCT
fbem-24785	338	7	chen	chen	PROPN
fbem-24785	338	8	junfei	junfei	PROPN
fbem-24785	338	9	.	.	PUNCT
fbem-24785	339	1	macroeconomic	macroeconomic	ADJ
fbem-24785	339	2	uncertainty	uncertainty	NOUN
fbem-24785	339	3	,	,	PUNCT
fbem-24785	339	4	information	information	NOUN
fbem-24785	339	5	asymmetry	asymmetry	NOUN
fbem-24785	339	6	and	and	CCONJ
fbem-24785	339	7	cash	cash	NOUN
fbem-24785	339	8	holdings	holding	NOUN
fbem-24785	339	9	[	[	X
fbem-24785	339	10	j	j	X
fbem-24785	339	11	]	]	X
fbem-24785	339	12	.	.	PUNCT
fbem-24785	340	1	accounting	accounting	NOUN
fbem-24785	340	2	newsletter	newsletter	NOUN
fbem-24785	340	3	,	,	PUNCT
fbem-24785	340	4	2015	2015	NUM
fbem-24785	340	5	(	(	PUNCT
fbem-24785	340	6	06	06	NUM
fbem-24785	340	7	):	):	PUNCT
fbem-24785	340	8	86	86	NUM
fbem-24785	340	9	-	-	SYM
fbem-24785	340	10	89	89	NUM
fbem-24785	340	11	.	.	PUNCT
fbem-24785	341	1	[	[	X
fbem-24785	341	2	15	15	NUM
fbem-24785	341	3	]	]	X
fbem-24785	341	4	gatev	gatev	PROPN
fbem-24785	341	5	e.	e.	PROPN
fbem-24785	341	6	,	,	PUNCT
fbem-24785	341	7	strahan	strahan	PROPN
fbem-24785	341	8	p.e	p.e	PROPN
fbem-24785	341	9	.	.	PROPN
fbem-24785	341	10	banks	bank	NOUN
fbem-24785	341	11	’	’	PART
fbem-24785	341	12	advantage	advantage	NOUN
fbem-24785	341	13	in	in	ADP
fbem-24785	341	14	hedging	hedge	VERB
fbem-24785	341	15	liquidity	liquidity	NOUN
fbem-24785	341	16	risk	risk	NOUN
fbem-24785	341	17	:	:	PUNCT
fbem-24785	341	18	theory	theory	NOUN
fbem-24785	341	19	and	and	CCONJ
fbem-24785	341	20	evidence	evidence	NOUN
fbem-24785	341	21	from	from	ADP
fbem-24785	341	22	the	the	DET
fbem-24785	341	23	commercial	commercial	ADJ
fbem-24785	341	24	paper	paper	NOUN
fbem-24785	341	25	market	market	NOUN
fbem-24785	342	1	[	[	X
fbem-24785	342	2	j	j	X
fbem-24785	342	3	]	]	X
fbem-24785	342	4	.	.	PUNCT
fbem-24785	343	1	journal	journal	PROPN
fbem-24785	343	2	of	of	ADP
fbem-24785	343	3	finance	finance	NOUN
fbem-24785	343	4	,	,	PUNCT
fbem-24785	343	5	2006	2006	NUM
fbem-24785	343	6	,	,	PUNCT
fbem-24785	343	7	61(2	61(2	NUM
fbem-24785	343	8	):	):	PUNCT
fbem-24785	343	9	867	867	NUM
fbem-24785	343	10	-	-	SYM
fbem-24785	343	11	892	892	NUM
fbem-24785	343	12	.	.	PUNCT
fbem-24785	344	1	[	[	X
fbem-24785	344	2	16	16	NUM
fbem-24785	344	3	]	]	PUNCT
fbem-24785	344	4	luigi	luigi	PROPN
fbem-24785	344	5	benfratello	benfratello	PROPN
fbem-24785	344	6	and	and	CCONJ
fbem-24785	344	7	fabio	fabio	PROPN
fbem-24785	344	8	schiantarelli	schiantarelli	PROPN
fbem-24785	344	9	and	and	CCONJ
fbem-24785	344	10	alessandro	alessandro	PROPN
fbem-24785	344	11	sembenelli	sembenelli	PROPN
fbem-24785	344	12	.	.	PUNCT
fbem-24785	345	1	banks	bank	NOUN
fbem-24785	345	2	and	and	CCONJ
fbem-24785	345	3	innovation	innovation	NOUN
fbem-24785	345	4	:	:	PUNCT
fbem-24785	345	5	microeconometric	microeconometric	ADJ
fbem-24785	345	6	evidence	evidence	NOUN
fbem-24785	345	7	on	on	ADP
fbem-24785	345	8	italian	italian	ADJ
fbem-24785	345	9	firms	firm	NOUN
fbem-24785	346	1	[	[	X
fbem-24785	346	2	j	j	X
fbem-24785	346	3	]	]	X
fbem-24785	346	4	.	.	PUNCT
fbem-24785	347	1	journal	journal	PROPN
fbem-24785	347	2	of	of	ADP
fbem-24785	347	3	financial	financial	ADJ
fbem-24785	347	4	economics	economic	NOUN
fbem-24785	347	5	,	,	PUNCT
fbem-24785	347	6	2008	2008	NUM
fbem-24785	347	7	,	,	PUNCT
fbem-24785	347	8	90(2	90(2	NUM
fbem-24785	347	9	):	):	PUNCT
fbem-24785	347	10	197	197	NUM
fbem-24785	347	11	-	-	SYM
fbem-24785	347	12	217	217	NUM
fbem-24785	347	13	.	.	PUNCT
fbem-24785	348	1	[	[	X
fbem-24785	348	2	17	17	NUM
fbem-24785	348	3	]	]	X
fbem-24785	348	4	wenfeng	wenfeng	NOUN
fbem-24785	348	5	wu	wu	PROPN
fbem-24785	348	6	and	and	CCONJ
fbem-24785	348	7	oliver	oliver	PROPN
fbem-24785	348	8	m.	m.	PROPN
fbem-24785	348	9	rui	rui	PROPN
fbem-24785	348	10	and	and	CCONJ
fbem-24785	348	11	chongfeng	chongfeng	PROPN
fbem-24785	348	12	wu	wu	PROPN
fbem-24785	348	13	.	.	PUNCT
fbem-24785	349	1	trade	trade	NOUN
fbem-24785	349	2	credit	credit	NOUN
fbem-24785	349	3	,	,	PUNCT
fbem-24785	349	4	cash	cash	NOUN
fbem-24785	349	5	holdings	holding	NOUN
fbem-24785	349	6	,	,	PUNCT
fbem-24785	349	7	and	and	CCONJ
fbem-24785	349	8	financial	financial	ADJ
fbem-24785	349	9	deepening	deepening	NOUN
fbem-24785	349	10	:	:	PUNCT
fbem-24785	349	11	evidence	evidence	NOUN
fbem-24785	349	12	from	from	ADP
fbem-24785	349	13	a	a	DET
fbem-24785	349	14	transitional	transitional	ADJ
fbem-24785	349	15	economy	economy	NOUN
fbem-24785	350	1	[	[	X
fbem-24785	350	2	j	j	X
fbem-24785	350	3	]	]	X
fbem-24785	350	4	.	.	PUNCT
fbem-24785	351	1	journal	journal	PROPN
fbem-24785	351	2	of	of	ADP
fbem-24785	351	3	banking	banking	NOUN
fbem-24785	351	4	and	and	CCONJ
fbem-24785	351	5	finance	finance	NOUN
fbem-24785	351	6	,	,	PUNCT
fbem-24785	351	7	2012	2012	NUM
fbem-24785	351	8	,	,	PUNCT
fbem-24785	351	9	36(11	36(11	NUM
fbem-24785	351	10	):	):	PUNCT
fbem-24785	351	11	2868	2868	NUM
fbem-24785	351	12	-	-	SYM
fbem-24785	351	13	2883	2883	NUM
fbem-24785	351	14	.	.	PUNCT
fbem-24785	352	1	[	[	X
fbem-24785	352	2	18	18	NUM
fbem-24785	352	3	]	]	X
fbem-24785	352	4	raymond	raymond	PROPN
fbem-24785	352	5	fisman	fisman	NOUN
fbem-24785	352	6	and	and	CCONJ
fbem-24785	352	7	inessa	inessa	ADJ
fbem-24785	352	8	love	love	NOUN
fbem-24785	352	9	.	.	PUNCT
fbem-24785	353	1	trade	trade	NOUN
fbem-24785	353	2	credit	credit	NOUN
fbem-24785	353	3	,	,	PUNCT
fbem-24785	353	4	financial	financial	ADJ
fbem-24785	353	5	intermediary	intermediary	NOUN
fbem-24785	353	6	development	development	NOUN
fbem-24785	353	7	,	,	PUNCT
fbem-24785	353	8	and	and	CCONJ
fbem-24785	353	9	industry	industry	NOUN
fbem-24785	353	10	growth	growth	NOUN
fbem-24785	354	1	[	[	X
fbem-24785	354	2	j	j	X
fbem-24785	354	3	]	]	X
fbem-24785	354	4	.	.	PUNCT
fbem-24785	355	1	the	the	DET
fbem-24785	355	2	journal	journal	PROPN
fbem-24785	355	3	of	of	ADP
fbem-24785	355	4	finance	finance	NOUN
fbem-24785	355	5	,	,	PUNCT
fbem-24785	355	6	2003	2003	NUM
fbem-24785	355	7	,	,	PUNCT
fbem-24785	355	8	58(1	58(1	NUM
fbem-24785	355	9	):	):	PUNCT
fbem-24785	355	10	353	353	NUM
fbem-24785	355	11	-	-	SYM
fbem-24785	355	12	374	374	NUM
fbem-24785	355	13	.	.	PUNCT
fbem-24785	356	1	[	[	X
fbem-24785	356	2	19	19	NUM
fbem-24785	356	3	]	]	X
fbem-24785	356	4	chen	chen	PROPN
fbem-24785	356	5	mingli	mingli	PROPN
fbem-24785	356	6	,	,	PUNCT
fbem-24785	356	7	mei	mei	PROPN
fbem-24785	356	8	shiyun	shiyun	PROPN
fbem-24785	356	9	,	,	PUNCT
fbem-24785	356	10	wu	wu	PROPN
fbem-24785	356	11	xuchuan	xuchuan	PROPN
fbem-24785	356	12	.	.	PUNCT
fbem-24785	357	1	the	the	DET
fbem-24785	357	2	impact	impact	NOUN
fbem-24785	357	3	of	of	ADP
fbem-24785	357	4	financing	finance	VERB
fbem-24785	357	5	mode	mode	NOUN
fbem-24785	357	6	on	on	ADP
fbem-24785	357	7	financing	financing	NOUN
fbem-24785	357	8	constraints	constraint	NOUN
fbem-24785	357	9	and	and	CCONJ
fbem-24785	357	10	financing	financing	NOUN
fbem-24785	357	11	efficiency	efficiency	NOUN
fbem-24785	357	12	an	an	DET
fbem-24785	357	13	empirical	empirical	ADJ
fbem-24785	357	14	study	study	NOUN
fbem-24785	357	15	based	base	VERB
fbem-24785	357	16	on	on	ADP
fbem-24785	357	17	shanghai	shanghai	PROPN
fbem-24785	357	18	and	and	CCONJ
fbem-24785	357	19	shenzhen	shenzhen	PROPN
fbem-24785	357	20	stock	stock	PROPN
fbem-24785	357	21	markets	market	NOUN
fbem-24785	358	1	[	[	X
fbem-24785	358	2	j	j	X
fbem-24785	358	3	]	]	X
fbem-24785	358	4	.	.	PUNCT
fbem-24785	359	1	shanghai	shanghai	PROPN
fbem-24785	359	2	economic	economic	ADJ
fbem-24785	359	3	research	research	PROPN
fbem-24785	359	4	,	,	PUNCT
fbem-24785	359	5	2018	2018	NUM
fbem-24785	359	6	(	(	PUNCT
fbem-24785	359	7	04	04	NUM
fbem-24785	359	8	):	):	PUNCT
fbem-24785	359	9	83	83	NUM
fbem-24785	359	10	-	-	SYM
fbem-24785	359	11	95	95	NUM
fbem-24785	359	12	.	.	PUNCT
fbem-24785	360	1	[	[	X
fbem-24785	360	2	20	20	NUM
fbem-24785	360	3	]	]	SYM
fbem-24785	360	4	bruno	bruno	PROPN
fbem-24785	360	5	,	,	PUNCT
fbem-24785	360	6	valentina	valentina	PROPN
fbem-24785	360	7	,	,	PUNCT
fbem-24785	360	8	shin	shin	PROPN
fbem-24785	360	9	,	,	PUNCT
fbem-24785	360	10	et	et	PROPN
fbem-24785	360	11	al	al	PROPN
fbem-24785	360	12	.	.	PUNCT
fbem-24785	360	13	capital	capital	PROPN
fbem-24785	360	14	flows	flow	NOUN
fbem-24785	360	15	and	and	CCONJ
fbem-24785	360	16	the	the	DET
fbem-24785	360	17	risk	risk	NOUN
fbem-24785	360	18	-	-	PUNCT
fbem-24785	360	19	taking	take	VERB
fbem-24785	360	20	channel	channel	NOUN
fbem-24785	360	21	of	of	ADP
fbem-24785	360	22	monetary	monetary	ADJ
fbem-24785	360	23	policy	policy	NOUN
fbem-24785	361	1	[	[	X
fbem-24785	361	2	j	j	X
fbem-24785	361	3	]	]	X
fbem-24785	361	4	.	.	PUNCT
fbem-24785	362	1	journal	journal	PROPN
fbem-24785	362	2	of	of	ADP
fbem-24785	362	3	monetary	monetary	ADJ
fbem-24785	362	4	economics	economic	NOUN
fbem-24785	362	5	,	,	PUNCT
fbem-24785	362	6	2015	2015	NUM
fbem-24785	362	7	.	.	PUNCT
fbem-24785	363	1	[	[	X
fbem-24785	363	2	21	21	NUM
fbem-24785	363	3	]	]	X
fbem-24785	363	4	chen	chen	PROPN
fbem-24785	363	5	yinmo	yinmo	PROPN
fbem-24785	363	6	,	,	PUNCT
fbem-24785	363	7	zhang	zhang	PROPN
fbem-24785	363	8	ming	ming	PROPN
fbem-24785	363	9	.	.	PUNCT
fbem-24785	364	1	economic	economic	ADJ
fbem-24785	364	2	policy	policy	NOUN
fbem-24785	364	3	uncertainty	uncertainty	NOUN
fbem-24785	364	4	and	and	CCONJ
fbem-24785	364	5	corporate	corporate	ADJ
fbem-24785	364	6	bank	bank	NOUN
fbem-24785	364	7	loans	loan	NOUN
fbem-24785	365	1	[	[	X
fbem-24785	365	2	j	j	X
fbem-24785	365	3	]	]	X
fbem-24785	365	4	.	.	PUNCT
fbem-24785	366	1	financial	financial	ADJ
fbem-24785	366	2	research	research	NOUN
fbem-24785	366	3	,	,	PUNCT
fbem-24785	366	4	2020	2020	NUM
fbem-24785	366	5	(	(	PUNCT
fbem-24785	366	6	04	04	NUM
fbem-24785	366	7	):	):	PUNCT
fbem-24785	366	8	93104	93104	NUM
fbem-24785	366	9	.	.	PUNCT
fbem-24785	367	1	[	[	X
fbem-24785	367	2	22	22	NUM
fbem-24785	367	3	]	]	PUNCT
fbem-24785	367	4	pan	pan	NOUN
fbem-24785	367	5	pan	pan	PROPN
fbem-24785	367	6	,	,	PUNCT
fbem-24785	367	7	deng	deng	PROPN
fbem-24785	367	8	chao	chao	PROPN
fbem-24785	367	9	,	,	PUNCT
fbem-24785	367	10	qiu	qiu	PROPN
fbem-24785	367	11	yu	yu	PROPN
fbem-24785	367	12	.	.	PUNCT
fbem-24785	368	1	economic	economic	ADJ
fbem-24785	368	2	policy	policy	NOUN
fbem-24785	368	3	uncertainty	uncertainty	NOUN
fbem-24785	368	4	,	,	PUNCT
fbem-24785	368	5	bank	bank	NOUN
fbem-24785	368	6	risk	risk	NOUN
fbem-24785	368	7	-	-	PUNCT
fbem-24785	368	8	taking	take	VERB
fbem-24785	368	9	and	and	CCONJ
fbem-24785	368	10	corporate	corporate	ADJ
fbem-24785	368	11	investment	investment	NOUN
fbem-24785	369	1	[	[	X
fbem-24785	369	2	j	j	X
fbem-24785	369	3	]	]	X
fbem-24785	369	4	.	.	PUNCT
fbem-24785	370	1	financial	financial	ADJ
fbem-24785	370	2	research	research	NOUN
fbem-24785	370	3	,	,	PUNCT
fbem-24785	370	4	2020	2020	NUM
fbem-24785	370	5	,	,	PUNCT
fbem-24785	370	6	46	46	NUM
fbem-24785	370	7	(	(	PUNCT
fbem-24785	370	8	02	02	NUM
fbem-24785	370	9	):	):	PUNCT
fbem-24785	370	10	67	67	NUM
fbem-24785	370	11	-	-	SYM
fbem-24785	370	12	81	81	NUM
fbem-24785	370	13	.	.	PUNCT
fbem-24785	371	1	[	[	X
fbem-24785	371	2	23	23	NUM
fbem-24785	371	3	]	]	X
fbem-24785	371	4	knight	knight	NOUN
fbem-24785	371	5	,	,	PUNCT
fbem-24785	371	6	f.	f.	PROPN
fbem-24785	371	7	h.	h.	PROPN
fbem-24785	371	8	risk	risk	PROPN
fbem-24785	371	9	,	,	PUNCT
fbem-24785	371	10	uncertainty	uncertainty	NOUN
fbem-24785	371	11	and	and	CCONJ
fbem-24785	371	12	pro	pro	X
fbem-24785	371	13	t	t	NOUN
fbem-24785	372	1	[	[	X
fbem-24785	372	2	r	r	X
fbem-24785	372	3	]	]	PUNCT
fbem-24785	372	4	.	.	PUNCT
fbem-24785	373	1	social	social	ADJ
fbem-24785	373	2	science	science	PROPN
fbem-24785	373	3	electronic	electronic	ADJ
fbem-24785	373	4	publishing	publishing	NOUN
fbem-24785	373	5	,	,	PUNCT
fbem-24785	373	6	1921	1921	NUM
fbem-24785	373	7	.	.	PUNCT
fbem-24785	374	1	[	[	X
fbem-24785	374	2	24	24	NUM
fbem-24785	374	3	]	]	X
fbem-24785	374	4	wang	wang	PROPN
fbem-24785	374	5	yanchao	yanchao	PROPN
fbem-24785	374	6	,	,	PUNCT
fbem-24785	374	7	lin	lin	PROPN
fbem-24785	374	8	bin	bin	PROPN
fbem-24785	374	9	.	.	PUNCT
fbem-24785	375	1	financial	financial	ADJ
fbem-24785	375	2	intermediation	intermediation	NOUN
fbem-24785	375	3	,	,	PUNCT
fbem-24785	375	4	informal	informal	ADJ
fbem-24785	375	5	finance	finance	NOUN
fbem-24785	375	6	and	and	CCONJ
fbem-24785	375	7	cash	cash	NOUN
fbem-24785	375	8	value	value	NOUN
fbem-24785	376	1	[	[	X
fbem-24785	376	2	j	j	X
fbem-24785	376	3	]	]	X
fbem-24785	376	4	.	.	PUNCT
fbem-24785	377	1	financial	financial	ADJ
fbem-24785	377	2	research	research	NOUN
fbem-24785	377	3	,	,	PUNCT
fbem-24785	377	4	2008	2008	NUM
fbem-24785	377	5	(	(	PUNCT
fbem-24785	377	6	03	03	NUM
fbem-24785	377	7	):	):	PUNCT
fbem-24785	377	8	177	177	NUM
fbem-24785	377	9	-	-	SYM
fbem-24785	377	10	199	199	NUM
fbem-24785	377	11	.	.	PUNCT
fbem-24785	378	1	[	[	X
fbem-24785	378	2	25	25	NUM
fbem-24785	378	3	]	]	PUNCT
fbem-24785	378	4	mariassunta	mariassunta	NOUN
fbem-24785	378	5	giannetti	giannetti	PROPN
fbem-24785	378	6	and	and	CCONJ
fbem-24785	378	7	mike	mike	PROPN
fbem-24785	378	8	burkart	burkart	NOUN
fbem-24785	378	9	and	and	CCONJ
fbem-24785	378	10	tore	tear	VERB
fbem-24785	378	11	ellingsen	ellingsen	NOUN
fbem-24785	378	12	.	.	PUNCT
fbem-24785	379	1	what	what	PRON
fbem-24785	379	2	you	you	PRON
fbem-24785	379	3	sell	sell	VERB
fbem-24785	379	4	is	be	AUX
fbem-24785	379	5	what	what	PRON
fbem-24785	379	6	you	you	PRON
fbem-24785	379	7	lend	lend	VERB
fbem-24785	379	8	?	?	PUNCT
fbem-24785	380	1	explaining	explain	VERB
fbem-24785	380	2	trade	trade	NOUN
fbem-24785	380	3	credit	credit	NOUN
fbem-24785	380	4	contracts	contract	NOUN
fbem-24785	381	1	[	[	X
fbem-24785	381	2	j	j	X
fbem-24785	381	3	]	]	X
fbem-24785	381	4	.	.	PUNCT
fbem-24785	382	1	the	the	DET
fbem-24785	382	2	review	review	NOUN
fbem-24785	382	3	of	of	ADP
fbem-24785	382	4	financial	financial	ADJ
fbem-24785	382	5	studies	study	NOUN
fbem-24785	382	6	,	,	PUNCT
fbem-24785	382	7	2011	2011	NUM
fbem-24785	382	8	,	,	PUNCT
fbem-24785	382	9	24(4	24(4	NUM
fbem-24785	382	10	):	):	PUNCT
fbem-24785	382	11	1261	1261	NUM
fbem-24785	382	12	-	-	SYM
fbem-24785	382	13	1298	1298	NUM
fbem-24785	382	14	.	.	PUNCT
fbem-24785	383	1	[	[	X
fbem-24785	383	2	26	26	NUM
fbem-24785	383	3	]	]	X
fbem-24785	383	4	lu	lu	PROPN
fbem-24785	383	5	zhengfei	zhengfei	PROPN
fbem-24785	383	6	,	,	PUNCT
fbem-24785	383	7	yang	yang	PROPN
fbem-24785	383	8	deming	deming	PROPN
fbem-24785	383	9	.	.	PUNCT
fbem-24785	384	1	trade	trade	NOUN
fbem-24785	384	2	credit	credit	NOUN
fbem-24785	384	3	:	:	PUNCT
fbem-24785	384	4	alternative	alternative	ADJ
fbem-24785	384	5	financing	financing	NOUN
fbem-24785	384	6	or	or	CCONJ
fbem-24785	384	7	buyer	buyer	NOUN
fbem-24785	384	8	's	's	PART
fbem-24785	384	9	market	market	NOUN
fbem-24785	384	10	?	?	PUNCT
fbem-24785	385	1	[	[	X
fbem-24785	385	2	j	j	X
fbem-24785	385	3	]	]	X
fbem-24785	385	4	.	.	PUNCT
fbem-24785	386	1	management	management	NOUN
fbem-24785	386	2	world	world	NOUN
fbem-24785	386	3	,	,	PUNCT
fbem-24785	386	4	2011	2011	NUM
fbem-24785	386	5	(	(	PUNCT
fbem-24785	386	6	04	04	NUM
fbem-24785	386	7	):	):	PUNCT
fbem-24785	386	8	6	6	NUM
fbem-24785	386	9	-	-	SYM
fbem-24785	386	10	14	14	NUM
fbem-24785	386	11	+	+	NUM
fbem-24785	386	12	45	45	NUM
fbem-24785	386	13	.	.	PUNCT
fbem-24785	386	14	414	414	NUM
fbem-24785	387	1	[	[	X
fbem-24785	387	2	27	27	NUM
fbem-24785	387	3	]	]	X
fbem-24785	387	4	zhang	zhang	PROPN
fbem-24785	387	5	yuanyuan	yuanyuan	PROPN
fbem-24785	387	6	,	,	PUNCT
fbem-24785	387	7	sun	sun	NOUN
fbem-24785	387	8	lanlan	lanlan	PROPN
fbem-24785	387	9	,	,	PUNCT
fbem-24785	387	10	wang	wang	PROPN
fbem-24785	387	11	zhuquan	zhuquan	PROPN
fbem-24785	387	12	.	.	PUNCT
fbem-24785	388	1	can	can	AUX
fbem-24785	388	2	commercial	commercial	ADJ
fbem-24785	388	3	credit	credit	NOUN
fbem-24785	388	4	financing	financing	NOUN
fbem-24785	388	5	improve	improve	VERB
fbem-24785	388	6	the	the	DET
fbem-24785	388	7	capital	capital	NOUN
fbem-24785	388	8	efficiency	efficiency	NOUN
fbem-24785	388	9	of	of	ADP
fbem-24785	388	10	the	the	DET
fbem-24785	388	11	real	real	ADJ
fbem-24785	388	12	economy	economy	NOUN
fbem-24785	388	13	from	from	ADP
fbem-24785	388	14	the	the	DET
fbem-24785	388	15	perspective	perspective	NOUN
fbem-24785	388	16	of	of	ADP
fbem-24785	388	17	economic	economic	ADJ
fbem-24785	388	18	policy	policy	NOUN
fbem-24785	388	19	uncertainty	uncertainty	NOUN
fbem-24785	388	20	[	[	X
fbem-24785	388	21	j	j	X
fbem-24785	388	22	]	]	X
fbem-24785	388	23	.	.	PUNCT
fbem-24785	389	1	modern	modern	ADJ
fbem-24785	389	2	finance	finance	NOUN
fbem-24785	389	3	and	and	CCONJ
fbem-24785	389	4	economics	economic	NOUN
fbem-24785	389	5	(	(	PUNCT
fbem-24785	389	6	journal	journal	PROPN
fbem-24785	389	7	of	of	ADP
fbem-24785	389	8	tianjin	tianjin	PROPN
fbem-24785	389	9	university	university	PROPN
fbem-24785	389	10	of	of	ADP
fbem-24785	389	11	finance	finance	NOUN
fbem-24785	389	12	and	and	CCONJ
fbem-24785	389	13	economics	economic	NOUN
fbem-24785	389	14	)	)	PUNCT
fbem-24785	389	15	,	,	PUNCT
fbem-24785	389	16	2020	2020	NUM
fbem-24785	389	17	,	,	PUNCT
fbem-24785	389	18	40	40	NUM
fbem-24785	389	19	(	(	PUNCT
fbem-24785	389	20	11	11	NUM
fbem-24785	389	21	):	):	PUNCT
fbem-24785	389	22	53	53	NUM
fbem-24785	389	23	-	-	SYM
fbem-24785	389	24	67	67	NUM
fbem-24785	389	25	.	.	PUNCT
fbem-24785	390	1	[	[	X
fbem-24785	390	2	28	28	NUM
fbem-24785	390	3	]	]	X
fbem-24785	390	4	gao	gao	PROPN
fbem-24785	390	5	qun	qun	PROPN
fbem-24785	390	6	,	,	PUNCT
fbem-24785	390	7	yang	yang	PROPN
fbem-24785	390	8	rong	rong	PROPN
fbem-24785	390	9	,	,	PUNCT
fbem-24785	390	10	liu	liu	PROPN
fbem-24785	390	11	yun	yun	PROPN
fbem-24785	390	12	.	.	PUNCT
fbem-24785	391	1	economic	economic	ADJ
fbem-24785	391	2	policy	policy	NOUN
fbem-24785	391	3	uncertainty	uncertainty	NOUN
fbem-24785	391	4	,	,	PUNCT
fbem-24785	391	5	debt	debt	NOUN
fbem-24785	391	6	financing	financing	NOUN
fbem-24785	391	7	and	and	CCONJ
fbem-24785	391	8	enterprise	enterprise	NOUN
fbem-24785	391	9	innovation	innovation	NOUN
fbem-24785	392	1	[	[	X
fbem-24785	392	2	j	j	X
fbem-24785	392	3	]	]	X
fbem-24785	392	4	.	.	PUNCT
fbem-24785	393	1	journal	journal	PROPN
fbem-24785	393	2	of	of	ADP
fbem-24785	393	3	yunnan	yunnan	PROPN
fbem-24785	393	4	university	university	PROPN
fbem-24785	393	5	of	of	ADP
fbem-24785	393	6	finance	finance	NOUN
fbem-24785	393	7	and	and	CCONJ
fbem-24785	393	8	economics	economic	NOUN
fbem-24785	393	9	,	,	PUNCT
fbem-24785	393	10	2022	2022	NUM
fbem-24785	393	11	,	,	PUNCT
fbem-24785	393	12	38	38	NUM
fbem-24785	393	13	(	(	PUNCT
fbem-24785	393	14	07	07	NUM
fbem-24785	393	15	):	):	PUNCT
fbem-24785	393	16	29	29	NUM
fbem-24785	393	17	-	-	SYM
fbem-24785	393	18	47	47	NUM
fbem-24785	393	19	.	.	PUNCT
fbem-24785	394	1	[	[	X
fbem-24785	394	2	29	29	NUM
fbem-24785	394	3	]	]	X
fbem-24785	394	4	mªfuensanta	mªfuensanta	NOUN
fbem-24785	394	5	cutillas	cutilla	NOUN
fbem-24785	394	6	gomariz	gomariz	NOUN
fbem-24785	394	7	and	and	CCONJ
fbem-24785	394	8	juan	juan	PROPN
fbem-24785	394	9	pedro	pedro	PROPN
fbem-24785	394	10	sánchez	sánchez	PROPN
fbem-24785	394	11	ballesta	ballesta	PROPN
fbem-24785	394	12	.	.	PUNCT
fbem-24785	395	1	financial	financial	ADJ
fbem-24785	395	2	reporting	reporting	NOUN
fbem-24785	395	3	quality	quality	NOUN
fbem-24785	395	4	,	,	PUNCT
fbem-24785	395	5	debt	debt	NOUN
fbem-24785	395	6	maturity	maturity	NOUN
fbem-24785	395	7	and	and	CCONJ
fbem-24785	395	8	investment	investment	NOUN
fbem-24785	395	9	efficiency	efficiency	NOUN
fbem-24785	396	1	[	[	X
fbem-24785	396	2	j	j	X
fbem-24785	396	3	]	]	X
fbem-24785	396	4	.	.	PUNCT
fbem-24785	397	1	journal	journal	PROPN
fbem-24785	397	2	of	of	ADP
fbem-24785	397	3	banking	banking	NOUN
fbem-24785	397	4	and	and	CCONJ
fbem-24785	397	5	finance	finance	NOUN
fbem-24785	397	6	,	,	PUNCT
fbem-24785	397	7	2014	2014	NUM
fbem-24785	397	8	,	,	PUNCT
fbem-24785	397	9	40	40	NUM
fbem-24785	397	10	:	:	PUNCT
fbem-24785	397	11	494	494	NUM
fbem-24785	397	12	-	-	SYM
fbem-24785	397	13	506	506	NUM
fbem-24785	397	14	.	.	PUNCT
fbem-24785	398	1	[	[	X
fbem-24785	398	2	30	30	NUM
fbem-24785	398	3	]	]	X
fbem-24785	398	4	baker	baker	PROPN
fbem-24785	398	5	,	,	PUNCT
fbem-24785	398	6	scott	scott	PROPN
fbem-24785	398	7	r.	r.	PROPN
fbem-24785	398	8	and	and	CCONJ
fbem-24785	398	9	bloom	bloom	NOUN
fbem-24785	398	10	,	,	PUNCT
fbem-24785	398	11	nicholas	nicholas	PROPN
fbem-24785	398	12	and	and	CCONJ
fbem-24785	398	13	davis	davis	PROPN
fbem-24785	398	14	,	,	PUNCT
fbem-24785	398	15	steven	steven	PROPN
fbem-24785	398	16	j.	j.	PROPN
fbem-24785	398	17	measuring	measure	VERB
fbem-24785	398	18	economic	economic	ADJ
fbem-24785	398	19	policy	policy	NOUN
fbem-24785	398	20	uncertainty	uncertainty	NOUN
fbem-24785	398	21	[	[	X
fbem-24785	398	22	j	j	X
fbem-24785	398	23	]	]	X
fbem-24785	398	24	.	.	PUNCT
fbem-24785	399	1	the	the	DET
fbem-24785	399	2	quarterly	quarterly	ADJ
fbem-24785	399	3	journal	journal	NOUN
fbem-24785	399	4	of	of	ADP
fbem-24785	399	5	economics	economic	NOUN
fbem-24785	399	6	,	,	PUNCT
fbem-24785	399	7	2016	2016	NUM
fbem-24785	399	8	,	,	PUNCT
fbem-24785	399	9	131(4	131(4	NUM
fbem-24785	399	10	):	):	PUNCT
fbem-24785	399	11	1593	1593	NUM
fbem-24785	399	12	-	-	SYM
fbem-24785	399	13	1636	1636	NUM
fbem-24785	399	14	.	.	PUNCT
fbem-24785	400	1	[	[	X
fbem-24785	400	2	31	31	NUM
fbem-24785	400	3	]	]	X
fbem-24785	400	4	liu	liu	PROPN
fbem-24785	400	5	hongzhong	hongzhong	PROPN
fbem-24785	400	6	,	,	PUNCT
fbem-24785	400	7	zhao	zhao	PROPN
fbem-24785	400	8	jiaoyang	jiaoyang	PROPN
fbem-24785	400	9	.	.	PUNCT
fbem-24785	401	1	economic	economic	ADJ
fbem-24785	401	2	policy	policy	NOUN
fbem-24785	401	3	uncertainty	uncertainty	NOUN
fbem-24785	401	4	,	,	PUNCT
fbem-24785	401	5	financing	financing	NOUN
fbem-24785	401	6	risk	risk	NOUN
fbem-24785	401	7	and	and	CCONJ
fbem-24785	401	8	corporate	corporate	ADJ
fbem-24785	401	9	'	'	PUNCT
fbem-24785	401	10	short	short	ADJ
fbem-24785	401	11	-	-	PUNCT
fbem-24785	401	12	term	term	NOUN
fbem-24785	401	13	loan	loan	NOUN
fbem-24785	401	14	and	and	CCONJ
fbem-24785	401	15	long	long	ADJ
fbem-24785	401	16	-	-	PUNCT
fbem-24785	401	17	term	term	NOUN
fbem-24785	401	18	investment	investment	NOUN
fbem-24785	401	19	'	'	PUNCT
fbem-24785	402	1	[	[	X
fbem-24785	402	2	j	j	X
fbem-24785	402	3	]	]	X
fbem-24785	402	4	.	.	PUNCT
fbem-24785	403	1	shanghai	shanghai	PROPN
fbem-24785	403	2	finance	finance	PROPN
fbem-24785	403	3	,	,	PUNCT
fbem-24785	403	4	2021	2021	NUM
fbem-24785	403	5	(	(	PUNCT
fbem-24785	403	6	01	01	NUM
fbem-24785	403	7	):	):	PUNCT
fbem-24785	403	8	12	12	NUM
fbem-24785	403	9	-	-	SYM
fbem-24785	403	10	23	23	NUM
fbem-24785	403	11	.	.	PUNCT
fbem-24785	404	1	[	[	X
fbem-24785	404	2	32	32	NUM
fbem-24785	404	3	]	]	X
fbem-24785	404	4	huang	huang	PROPN
fbem-24785	404	5	haijie	haijie	PROPN
fbem-24785	404	6	,	,	PUNCT
fbem-24785	404	7	chen	chen	PROPN
fbem-24785	404	8	yunjia	yunjia	PROPN
fbem-24785	404	9	.	.	PUNCT
fbem-24785	405	1	the	the	DET
fbem-24785	405	2	impact	impact	NOUN
fbem-24785	405	3	of	of	ADP
fbem-24785	405	4	economic	economic	ADJ
fbem-24785	405	5	policy	policy	NOUN
fbem-24785	405	6	uncertainty	uncertainty	NOUN
fbem-24785	405	7	on	on	ADP
fbem-24785	405	8	bond	bond	NOUN
fbem-24785	405	9	default	default	NOUN
fbem-24785	405	10	[	[	X
fbem-24785	405	11	j	j	X
fbem-24785	405	12	]	]	X
fbem-24785	405	13	.	.	PUNCT
fbem-24785	406	1	journal	journal	PROPN
fbem-24785	406	2	of	of	ADP
fbem-24785	406	3	zhongnan	zhongnan	PROPN
fbem-24785	406	4	university	university	PROPN
fbem-24785	406	5	of	of	ADP
fbem-24785	406	6	economics	economic	NOUN
fbem-24785	406	7	and	and	CCONJ
fbem-24785	406	8	law	law	NOUN
fbem-24785	406	9	,	,	PUNCT
fbem-24785	406	10	2022	2022	NUM
fbem-24785	406	11	(	(	PUNCT
fbem-24785	406	12	01	01	NUM
fbem-24785	406	13	):	):	PUNCT
fbem-24785	406	14	38	38	NUM
fbem-24785	406	15	-	-	SYM
fbem-24785	406	16	49	49	NUM
fbem-24785	406	17	.	.	PUNCT
fbem-24785	407	1	[	[	X
fbem-24785	407	2	33	33	NUM
fbem-24785	407	3	]	]	PUNCT
fbem-24785	407	4	edward	edward	PROPN
fbem-24785	407	5	i.	i.	PROPN
fbem-24785	407	6	altman	altman	PROPN
fbem-24785	407	7	.	.	PUNCT
fbem-24785	408	1	the	the	DET
fbem-24785	408	2	prediction	prediction	NOUN
fbem-24785	408	3	of	of	ADP
fbem-24785	408	4	corporate	corporate	ADJ
fbem-24785	408	5	bankruptcy	bankruptcy	NOUN
fbem-24785	408	6	:	:	PUNCT
fbem-24785	408	7	a	a	DET
fbem-24785	408	8	discriminant	discriminant	ADJ
fbem-24785	408	9	analysis	analysis	NOUN
fbem-24785	408	10	[	[	X
fbem-24785	408	11	j	j	X
fbem-24785	408	12	]	]	X
fbem-24785	408	13	.	.	PUNCT
fbem-24785	409	1	the	the	DET
fbem-24785	409	2	journal	journal	PROPN
fbem-24785	409	3	of	of	ADP
fbem-24785	409	4	finance	finance	NOUN
fbem-24785	409	5	,	,	PUNCT
fbem-24785	409	6	1968	1968	NUM
fbem-24785	409	7	,	,	PUNCT
fbem-24785	409	8	23(1	23(1	NUM
fbem-24785	409	9	):	):	PUNCT
fbem-24785	409	10	193	193	NUM
fbem-24785	409	11	-	-	SYM
fbem-24785	409	12	194	194	NUM
fbem-24785	409	13	.	.	PUNCT
fbem-24785	410	1	[	[	X
fbem-24785	410	2	34	34	NUM
fbem-24785	410	3	]	]	SYM
fbem-24785	410	4	li	li	PROPN
fbem-24785	410	5	fengyu	fengyu	PROPN
fbem-24785	410	6	,	,	PUNCT
fbem-24785	410	7	yang	yang	PROPN
fbem-24785	410	8	mozhu	mozhu	PROPN
fbem-24785	410	9	.	.	PUNCT
fbem-24785	410	10	does	do	AUX
fbem-24785	410	11	economic	economic	ADJ
fbem-24785	410	12	policy	policy	NOUN
fbem-24785	410	13	uncertainty	uncertainty	NOUN
fbem-24785	410	14	inhibit	inhibit	VERB
fbem-24785	410	15	corporate	corporate	ADJ
fbem-24785	410	16	investment	investment	NOUN
fbem-24785	410	17	?	?	PUNCT
fbem-24785	411	1	an	an	DET
fbem-24785	411	2	empirical	empirical	ADJ
fbem-24785	411	3	study	study	NOUN
fbem-24785	411	4	based	base	VERB
fbem-24785	411	5	on	on	ADP
fbem-24785	411	6	china	china	PROPN
fbem-24785	411	7	's	's	PART
fbem-24785	411	8	economic	economic	ADJ
fbem-24785	411	9	policy	policy	NOUN
fbem-24785	411	10	uncertainty	uncertainty	NOUN
fbem-24785	411	11	index	index	NOUN
fbem-24785	411	12	[	[	X
fbem-24785	411	13	j	j	X
fbem-24785	411	14	]	]	X
fbem-24785	411	15	.	.	PUNCT
fbem-24785	412	1	financial	financial	ADJ
fbem-24785	412	2	research	research	NOUN
fbem-24785	412	3	,	,	PUNCT
fbem-24785	412	4	2015	2015	NUM
fbem-24785	412	5	(	(	PUNCT
fbem-24785	412	6	04	04	NUM
fbem-24785	412	7	):	):	PUNCT
fbem-24785	412	8	115	115	NUM
fbem-24785	412	9	-	-	SYM
fbem-24785	412	10	129	129	NUM
fbem-24785	412	11	.	.	PUNCT
fbem-24785	413	1	[	[	X
fbem-24785	413	2	35	35	NUM
fbem-24785	413	3	]	]	X
fbem-24785	413	4	wu	wu	PROPN
fbem-24785	413	5	chengsong	chengsong	PROPN
fbem-24785	413	6	,	,	PUNCT
fbem-24785	413	7	chang	chang	PROPN
fbem-24785	413	8	zhi	zhi	PROPN
fbem-24785	413	9	.	.	PUNCT
fbem-24785	414	1	economic	economic	ADJ
fbem-24785	414	2	policy	policy	NOUN
fbem-24785	414	3	uncertainty	uncertainty	NOUN
fbem-24785	414	4	,	,	PUNCT
fbem-24785	414	5	trade	trade	NOUN
fbem-24785	414	6	credit	credit	NOUN
fbem-24785	414	7	and	and	CCONJ
fbem-24785	414	8	financial	financial	ADJ
fbem-24785	414	9	fragility	fragility	NOUN
fbem-24785	414	10	a	a	DET
fbem-24785	414	11	study	study	NOUN
fbem-24785	414	12	of	of	ADP
fbem-24785	414	13	listed	list	VERB
fbem-24785	414	14	manufacturing	manufacturing	NOUN
fbem-24785	414	15	companies	company	NOUN
fbem-24785	414	16	[	[	X
fbem-24785	414	17	j	j	X
fbem-24785	414	18	]	]	X
fbem-24785	414	19	.	.	PUNCT
fbem-24785	415	1	jianghan	jianghan	PROPN
fbem-24785	415	2	academic	academic	PROPN
fbem-24785	415	3	,	,	PUNCT
fbem-24785	415	4	2022	2022	NUM
fbem-24785	415	5	,	,	PUNCT
fbem-24785	415	6	41	41	NUM
fbem-24785	415	7	(	(	PUNCT
fbem-24785	415	8	04	04	NUM
fbem-24785	415	9	):	):	PUNCT
fbem-24785	415	10	88	88	NUM
fbem-24785	415	11	-	-	SYM
fbem-24785	415	12	102	102	NUM
fbem-24785	415	13	.	.	PUNCT
fbem-24785	416	1	[	[	X
fbem-24785	416	2	36	36	NUM
fbem-24785	416	3	]	]	X
fbem-24785	416	4	toni	toni	PROPN
fbem-24785	416	5	m.	m.	NOUN
fbem-24785	416	6	whited	white	VERB
fbem-24785	416	7	and	and	CCONJ
fbem-24785	416	8	guojun	guojun	PROPN
fbem-24785	416	9	wu	wu	PROPN
fbem-24785	416	10	.	.	PUNCT
fbem-24785	417	1	financial	financial	ADJ
fbem-24785	417	2	constraints	constraint	NOUN
fbem-24785	417	3	risk	risk	NOUN
fbem-24785	418	1	[	[	X
fbem-24785	418	2	j	j	X
fbem-24785	418	3	]	]	X
fbem-24785	418	4	.	.	PUNCT
fbem-24785	419	1	the	the	DET
fbem-24785	419	2	review	review	NOUN
fbem-24785	419	3	of	of	ADP
fbem-24785	419	4	financial	financial	ADJ
fbem-24785	419	5	studies	study	NOUN
fbem-24785	419	6	,	,	PUNCT
fbem-24785	419	7	2006	2006	NUM
fbem-24785	419	8	,	,	PUNCT
fbem-24785	419	9	19(2	19(2	NUM
fbem-24785	419	10	):	):	PUNCT
fbem-24785	419	11	531	531	NUM
fbem-24785	419	12	-	-	SYM
fbem-24785	419	13	559	559	NUM
fbem-24785	419	14	.	.	PUNCT