id	sid	tid	token	lemma	pos
fbem-26181	1	1	frontiers	frontier	NOUN
fbem-26181	1	2	in	in	ADP
fbem-26181	1	3	business	business	NOUN
fbem-26181	1	4	,	,	PUNCT
fbem-26181	1	5	economics	economic	NOUN
fbem-26181	1	6	and	and	CCONJ
fbem-26181	1	7	management	management	NOUN
fbem-26181	1	8	issn	issn	PROPN
fbem-26181	1	9	:	:	PUNCT
fbem-26181	1	10	2766	2766	NUM
fbem-26181	1	11	-	-	PUNCT
fbem-26181	1	12	824x	824x	NUM
fbem-26181	1	13	|	|	ADJ
fbem-26181	1	14	vol	vol	NOUN
fbem-26181	1	15	.	.	PUNCT
fbem-26181	2	1	16	16	NUM
fbem-26181	2	2	,	,	PUNCT
fbem-26181	2	3	no	no	INTJ
fbem-26181	2	4	.	.	NOUN
fbem-26181	2	5	3	3	NUM
fbem-26181	2	6	,	,	PUNCT
fbem-26181	2	7	2024	2024	NUM
fbem-26181	2	8	128	128	NUM
fbem-26181	2	9	impact	impact	NOUN
fbem-26181	2	10	of	of	ADP
fbem-26181	2	11	digital	digital	ADJ
fbem-26181	2	12	economy	economy	NOUN
fbem-26181	2	13	development	development	NOUN
fbem-26181	2	14	on	on	ADP
fbem-26181	2	15	financialization	financialization	NOUN
fbem-26181	2	16	of	of	ADP
fbem-26181	2	17	firms	firm	NOUN
fbem-26181	2	18	:	:	PUNCT
fbem-26181	2	19	empirical	empirical	ADJ
fbem-26181	2	20	evidence	evidence	NOUN
fbem-26181	2	21	from	from	ADP
fbem-26181	2	22	pvar	pvar	ADJ
fbem-26181	2	23	model	model	NOUN
fbem-26181	2	24	haoran	haoran	PROPN
fbem-26181	2	25	cheng	cheng	PROPN
fbem-26181	2	26	*	*	PUNCT
fbem-26181	2	27	school	school	NOUN
fbem-26181	2	28	of	of	ADP
fbem-26181	2	29	economics	economic	NOUN
fbem-26181	2	30	,	,	PUNCT
fbem-26181	2	31	zhongnan	zhongnan	PROPN
fbem-26181	2	32	university	university	PROPN
fbem-26181	2	33	of	of	ADP
fbem-26181	2	34	economics	economic	NOUN
fbem-26181	2	35	and	and	CCONJ
fbem-26181	2	36	law	law	NOUN
fbem-26181	2	37	,	,	PUNCT
fbem-26181	2	38	wuhan	wuhan	PROPN
fbem-26181	2	39	,	,	PUNCT
fbem-26181	2	40	hubei	hubei	PROPN
fbem-26181	2	41	,	,	PUNCT
fbem-26181	2	42	430073	430073	NUM
fbem-26181	2	43	,	,	PUNCT
fbem-26181	2	44	china	china	PROPN
fbem-26181	2	45	*	*	PUNCT
fbem-26181	2	46	corresponding	correspond	VERB
fbem-26181	2	47	author	author	NOUN
fbem-26181	2	48	:	:	PUNCT
fbem-26181	2	49	haoran	haoran	PROPN
fbem-26181	2	50	cheng	cheng	PROPN
fbem-26181	2	51	(	(	PUNCT
fbem-26181	2	52	email	email	NOUN
fbem-26181	2	53	:	:	PUNCT
fbem-26181	2	54	haoranc2002@163.com	haoranc2002@163.com	X
fbem-26181	2	55	)	)	PUNCT
fbem-26181	2	56	abstract	abstract	NOUN
fbem-26181	2	57	:	:	PUNCT
fbem-26181	2	58	in	in	ADP
fbem-26181	2	59	this	this	DET
fbem-26181	2	60	paper	paper	NOUN
fbem-26181	2	61	,	,	PUNCT
fbem-26181	2	62	we	we	PRON
fbem-26181	2	63	select	select	VERB
fbem-26181	2	64	several	several	ADJ
fbem-26181	2	65	indicators	indicator	NOUN
fbem-26181	2	66	to	to	PART
fbem-26181	2	67	measure	measure	VERB
fbem-26181	2	68	the	the	DET
fbem-26181	2	69	level	level	NOUN
fbem-26181	2	70	of	of	ADP
fbem-26181	2	71	the	the	DET
fbem-26181	2	72	digital	digital	ADJ
fbem-26181	2	73	economy	economy	NOUN
fbem-26181	2	74	in	in	ADP
fbem-26181	2	75	cities	city	NOUN
fbem-26181	2	76	,	,	PUNCT
fbem-26181	2	77	the	the	DET
fbem-26181	2	78	index	index	NOUN
fbem-26181	2	79	of	of	ADP
fbem-26181	2	80	digital	digital	ADJ
fbem-26181	2	81	inclusive	inclusive	ADJ
fbem-26181	2	82	finance	finance	NOUN
fbem-26181	2	83	in	in	ADP
fbem-26181	2	84	cities	city	NOUN
fbem-26181	2	85	and	and	CCONJ
fbem-26181	2	86	the	the	DET
fbem-26181	2	87	degree	degree	NOUN
fbem-26181	2	88	of	of	ADP
fbem-26181	2	89	financialization	financialization	NOUN
fbem-26181	2	90	of	of	ADP
fbem-26181	2	91	enterprises	enterprise	NOUN
fbem-26181	2	92	,	,	PUNCT
fbem-26181	2	93	we	we	PRON
fbem-26181	2	94	apply	apply	VERB
fbem-26181	2	95	variables	variable	NOUN
fbem-26181	2	96	mentioned	mention	VERB
fbem-26181	2	97	above	above	ADV
fbem-26181	2	98	to	to	PART
fbem-26181	2	99	analyze	analyze	VERB
fbem-26181	2	100	the	the	DET
fbem-26181	2	101	complex	complex	ADJ
fbem-26181	2	102	relationship	relationship	NOUN
fbem-26181	2	103	between	between	ADP
fbem-26181	2	104	multiple	multiple	ADJ
fbem-26181	2	105	variables	variable	NOUN
fbem-26181	2	106	based	base	VERB
fbem-26181	2	107	on	on	ADP
fbem-26181	2	108	the	the	DET
fbem-26181	2	109	pvar	pvar	NOUN
fbem-26181	2	110	model	model	NOUN
fbem-26181	2	111	,	,	PUNCT
fbem-26181	2	112	we	we	PRON
fbem-26181	2	113	firstly	firstly	ADV
fbem-26181	2	114	suppose	suppose	VERB
fbem-26181	2	115	a	a	DET
fbem-26181	2	116	unique	unique	ADJ
fbem-26181	2	117	order	order	NOUN
fbem-26181	2	118	and	and	CCONJ
fbem-26181	2	119	use	use	VERB
fbem-26181	2	120	impulse	impulse	ADJ
fbem-26181	2	121	response	response	NOUN
fbem-26181	2	122	function(irf	function(irf	PROPN
fbem-26181	2	123	)	)	PUNCT
fbem-26181	2	124	and	and	CCONJ
fbem-26181	2	125	variance	variance	NOUN
fbem-26181	2	126	decomposition	decomposition	NOUN
fbem-26181	2	127	measures	measure	NOUN
fbem-26181	2	128	to	to	PART
fbem-26181	2	129	predict	predict	VERB
fbem-26181	2	130	the	the	DET
fbem-26181	2	131	impact	impact	NOUN
fbem-26181	2	132	of	of	ADP
fbem-26181	2	133	the	the	DET
fbem-26181	2	134	relationship	relationship	NOUN
fbem-26181	2	135	between	between	ADP
fbem-26181	2	136	variables	variable	NOUN
fbem-26181	2	137	,	,	PUNCT
fbem-26181	2	138	so	so	SCONJ
fbem-26181	2	139	as	as	SCONJ
fbem-26181	2	140	to	to	PART
fbem-26181	2	141	provide	provide	VERB
fbem-26181	2	142	a	a	DET
fbem-26181	2	143	reference	reference	NOUN
fbem-26181	2	144	for	for	ADP
fbem-26181	2	145	policy	policy	NOUN
fbem-26181	2	146	making	making	NOUN
fbem-26181	2	147	and	and	CCONJ
fbem-26181	2	148	risk	risk	NOUN
fbem-26181	2	149	prevention	prevention	NOUN
fbem-26181	2	150	.	.	PUNCT
fbem-26181	3	1	and	and	CCONJ
fbem-26181	3	2	use	use	VERB
fbem-26181	3	3	impulse	impulse	ADJ
fbem-26181	3	4	response	response	NOUN
fbem-26181	3	5	and	and	CCONJ
fbem-26181	3	6	variance	variance	NOUN
fbem-26181	3	7	decomposition	decomposition	NOUN
fbem-26181	3	8	methods	method	NOUN
fbem-26181	3	9	to	to	PART
fbem-26181	3	10	predict	predict	VERB
fbem-26181	3	11	the	the	DET
fbem-26181	3	12	future	future	ADJ
fbem-26181	3	13	direction	direction	NOUN
fbem-26181	3	14	of	of	ADP
fbem-26181	3	15	the	the	DET
fbem-26181	3	16	relationship	relationship	NOUN
fbem-26181	3	17	between	between	ADP
fbem-26181	3	18	variables	variable	NOUN
fbem-26181	3	19	,	,	PUNCT
fbem-26181	3	20	so	so	SCONJ
fbem-26181	3	21	as	as	SCONJ
fbem-26181	3	22	to	to	PART
fbem-26181	3	23	provide	provide	VERB
fbem-26181	3	24	certain	certain	ADJ
fbem-26181	3	25	reference	reference	NOUN
fbem-26181	3	26	significance	significance	NOUN
fbem-26181	3	27	for	for	ADP
fbem-26181	3	28	policy	policy	NOUN
fbem-26181	3	29	making	making	NOUN
fbem-26181	3	30	and	and	CCONJ
fbem-26181	3	31	risk	risk	NOUN
fbem-26181	3	32	prevention	prevention	NOUN
fbem-26181	3	33	.	.	PUNCT
fbem-26181	4	1	keywords	keyword	NOUN
fbem-26181	4	2	:	:	PUNCT
fbem-26181	4	3	enterprise	enterprise	NOUN
fbem-26181	4	4	financialization	financialization	NOUN
fbem-26181	4	5	,	,	PUNCT
fbem-26181	4	6	digital	digital	ADJ
fbem-26181	4	7	economics	economic	NOUN
fbem-26181	4	8	,	,	PUNCT
fbem-26181	4	9	pvar	pvar	NOUN
fbem-26181	4	10	model	model	NOUN
fbem-26181	4	11	.	.	PUNCT
fbem-26181	5	1	1	1	X
fbem-26181	5	2	.	.	X
fbem-26181	5	3	introduction	introduction	NOUN
fbem-26181	5	4	under	under	ADP
fbem-26181	5	5	the	the	DET
fbem-26181	5	6	rapid	rapid	ADJ
fbem-26181	5	7	development	development	NOUN
fbem-26181	5	8	of	of	ADP
fbem-26181	5	9	digital	digital	ADJ
fbem-26181	5	10	techniques	technique	NOUN
fbem-26181	5	11	,	,	PUNCT
fbem-26181	5	12	the	the	DET
fbem-26181	5	13	thriving	thriving	ADJ
fbem-26181	5	14	digital	digital	ADJ
fbem-26181	5	15	economy	economy	NOUN
fbem-26181	5	16	has	have	AUX
fbem-26181	5	17	become	become	VERB
fbem-26181	5	18	an	an	DET
fbem-26181	5	19	all	all	ADV
fbem-26181	5	20	-	-	PUNCT
fbem-26181	5	21	encompassing	encompass	VERB
fbem-26181	5	22	area	area	NOUN
fbem-26181	5	23	in	in	ADP
fbem-26181	5	24	recent	recent	ADJ
fbem-26181	5	25	years	year	NOUN
fbem-26181	5	26	,	,	PUNCT
fbem-26181	5	27	digital	digital	ADJ
fbem-26181	5	28	economy	economy	NOUN
fbem-26181	5	29	develops	develop	VERB
fbem-26181	5	30	rapidly	rapidly	ADV
fbem-26181	5	31	with	with	ADP
fbem-26181	5	32	an	an	DET
fbem-26181	5	33	in	in	ADP
fbem-26181	5	34	-	-	PUNCT
fbem-26181	5	35	depth	depth	NOUN
fbem-26181	5	36	integration	integration	NOUN
fbem-26181	5	37	with	with	ADP
fbem-26181	5	38	the	the	DET
fbem-26181	5	39	real	real	ADJ
fbem-26181	5	40	economy	economy	NOUN
fbem-26181	5	41	,	,	PUNCT
fbem-26181	5	42	of	of	ADP
fbem-26181	5	43	the	the	DET
fbem-26181	5	44	background	background	NOUN
fbem-26181	5	45	of	of	ADP
fbem-26181	5	46	the	the	DET
fbem-26181	5	47	times	time	NOUN
fbem-26181	5	48	gradually	gradually	ADV
fbem-26181	5	49	become	become	VERB
fbem-26181	5	50	an	an	DET
fbem-26181	5	51	indispensable	indispensable	ADJ
fbem-26181	5	52	and	and	CCONJ
fbem-26181	5	53	effective	effective	ADJ
fbem-26181	5	54	improving	improve	VERB
fbem-26181	5	55	force	force	NOUN
fbem-26181	5	56	for	for	ADP
fbem-26181	5	57	economic	economic	ADJ
fbem-26181	5	58	development	development	NOUN
fbem-26181	5	59	in	in	ADP
fbem-26181	5	60	all	all	ADV
fbem-26181	5	61	over	over	ADP
fbem-26181	5	62	the	the	DET
fbem-26181	5	63	world	world	NOUN
fbem-26181	5	64	,	,	PUNCT
fbem-26181	5	65	for	for	SCONJ
fbem-26181	5	66	enterprises	enterprise	NOUN
fbem-26181	5	67	to	to	PART
fbem-26181	5	68	improve	improve	VERB
fbem-26181	5	69	the	the	DET
fbem-26181	5	70	total	total	ADJ
fbem-26181	5	71	factor	factor	NOUN
fbem-26181	5	72	generation	generation	NOUN
fbem-26181	5	73	rate	rate	NOUN
fbem-26181	5	74	and	and	CCONJ
fbem-26181	5	75	thus	thus	ADV
fbem-26181	5	76	have	have	VERB
fbem-26181	5	77	an	an	DET
fbem-26181	5	78	advanced	advanced	ADJ
fbem-26181	5	79	progress	progress	NOUN
fbem-26181	5	80	on	on	ADP
fbem-26181	5	81	the	the	DET
fbem-26181	5	82	development	development	NOUN
fbem-26181	5	83	of	of	ADP
fbem-26181	5	84	the	the	DET
fbem-26181	5	85	real	real	ADJ
fbem-26181	5	86	economy	economy	NOUN
fbem-26181	5	87	.	.	PUNCT
fbem-26181	6	1	by	by	ADP
fbem-26181	6	2	the	the	DET
fbem-26181	6	3	way	way	NOUN
fbem-26181	6	4	,	,	PUNCT
fbem-26181	6	5	the	the	DET
fbem-26181	6	6	progress	progress	NOUN
fbem-26181	6	7	of	of	ADP
fbem-26181	6	8	digital	digital	ADJ
fbem-26181	6	9	technology	technology	NOUN
fbem-26181	6	10	has	have	AUX
fbem-26181	6	11	promoted	promote	VERB
fbem-26181	6	12	the	the	DET
fbem-26181	6	13	rise	rise	NOUN
fbem-26181	6	14	of	of	ADP
fbem-26181	6	15	digital	digital	ADJ
fbem-26181	6	16	finance	finance	NOUN
fbem-26181	6	17	,	,	PUNCT
fbem-26181	6	18	further	far	ADV
fbem-26181	6	19	accelerating	accelerate	VERB
fbem-26181	6	20	the	the	DET
fbem-26181	6	21	expansion	expansion	NOUN
fbem-26181	6	22	of	of	ADP
fbem-26181	6	23	corporate	corporate	ADJ
fbem-26181	6	24	financial	financial	ADJ
fbem-26181	6	25	assets	asset	NOUN
fbem-26181	6	26	.	.	PUNCT
fbem-26181	7	1	based	base	VERB
fbem-26181	7	2	on	on	ADP
fbem-26181	7	3	the	the	DET
fbem-26181	7	4	data	datum	NOUN
fbem-26181	7	5	shown	show	VERB
fbem-26181	7	6	in	in	ADP
fbem-26181	7	7	shanghai	shanghai	PROPN
fbem-26181	7	8	and	and	CCONJ
fbem-26181	7	9	shenzhen	shenzhen	PROPN
fbem-26181	7	10	stock	stock	PROPN
fbem-26181	7	11	exchange	exchange	PROPN
fbem-26181	7	12	listed	list	VERB
fbem-26181	7	13	non	non	ADJ
fbem-26181	7	14	-	-	ADJ
fbem-26181	7	15	financial	financial	ADJ
fbem-26181	7	16	enterprises	enterprise	NOUN
fbem-26181	7	17	and	and	CCONJ
fbem-26181	7	18	kinds	kind	NOUN
fbem-26181	7	19	of	of	ADP
fbem-26181	7	20	researches	research	NOUN
fbem-26181	7	21	about	about	ADP
fbem-26181	7	22	relationships	relationship	NOUN
fbem-26181	7	23	between	between	ADP
fbem-26181	7	24	virtual	virtual	ADJ
fbem-26181	7	25	economy	economy	NOUN
fbem-26181	7	26	and	and	CCONJ
fbem-26181	7	27	real	real	ADJ
fbem-26181	7	28	economy	economy	NOUN
fbem-26181	7	29	,	,	PUNCT
fbem-26181	7	30	we	we	PRON
fbem-26181	7	31	already	already	ADV
fbem-26181	7	32	drawn	draw	VERB
fbem-26181	7	33	the	the	DET
fbem-26181	7	34	conclusion	conclusion	NOUN
fbem-26181	7	35	that	that	SCONJ
fbem-26181	7	36	the	the	DET
fbem-26181	7	37	real	real	ADJ
fbem-26181	7	38	economy	economy	NOUN
fbem-26181	7	39	has	have	AUX
fbem-26181	7	40	shown	show	VERB
fbem-26181	7	41	a	a	DET
fbem-26181	7	42	trend	trend	NOUN
fbem-26181	7	43	of	of	ADP
fbem-26181	7	44	"	"	PUNCT
fbem-26181	7	45	deconstruction	deconstruction	NOUN
fbem-26181	7	46	to	to	ADP
fbem-26181	7	47	devirtualization	devirtualization	NOUN
fbem-26181	7	48	"	"	PUNCT
fbem-26181	7	49	.	.	PUNCT
fbem-26181	8	1	this	this	DET
fbem-26181	8	2	paper	paper	NOUN
fbem-26181	8	3	researches	research	VERB
fbem-26181	8	4	the	the	DET
fbem-26181	8	5	relationship	relationship	NOUN
fbem-26181	8	6	and	and	CCONJ
fbem-26181	8	7	degree	degree	NOUN
fbem-26181	8	8	of	of	ADP
fbem-26181	8	9	influence	influence	NOUN
fbem-26181	8	10	between	between	ADP
fbem-26181	8	11	the	the	DET
fbem-26181	8	12	elements	element	NOUN
fbem-26181	8	13	of	of	ADP
fbem-26181	8	14	the	the	DET
fbem-26181	8	15	digital	digital	ADJ
fbem-26181	8	16	economy	economy	NOUN
fbem-26181	8	17	and	and	CCONJ
fbem-26181	8	18	the	the	DET
fbem-26181	8	19	financialization	financialization	NOUN
fbem-26181	8	20	of	of	ADP
fbem-26181	8	21	enterprises	enterprise	NOUN
fbem-26181	8	22	,	,	PUNCT
fbem-26181	8	23	which	which	PRON
fbem-26181	8	24	is	be	AUX
fbem-26181	8	25	conducive	conducive	ADJ
fbem-26181	8	26	to	to	ADP
fbem-26181	8	27	identifying	identify	VERB
fbem-26181	8	28	the	the	DET
fbem-26181	8	29	different	different	ADJ
fbem-26181	8	30	motives	motive	NOUN
fbem-26181	8	31	for	for	ADP
fbem-26181	8	32	the	the	DET
fbem-26181	8	33	financialization	financialization	NOUN
fbem-26181	8	34	of	of	ADP
fbem-26181	8	35	enterprises	enterprise	NOUN
fbem-26181	8	36	,	,	PUNCT
fbem-26181	8	37	which	which	PRON
fbem-26181	8	38	is	be	AUX
fbem-26181	8	39	pretty	pretty	ADV
fbem-26181	8	40	conducive	conducive	ADJ
fbem-26181	8	41	to	to	ADP
fbem-26181	8	42	ameliorating	ameliorate	VERB
fbem-26181	8	43	the	the	DET
fbem-26181	8	44	balanced	balanced	ADJ
fbem-26181	8	45	development	development	NOUN
fbem-26181	8	46	of	of	ADP
fbem-26181	8	47	the	the	DET
fbem-26181	8	48	real	real	ADJ
fbem-26181	8	49	economy	economy	NOUN
fbem-26181	8	50	and	and	CCONJ
fbem-26181	8	51	the	the	DET
fbem-26181	8	52	virtual	virtual	ADJ
fbem-26181	8	53	economy	economy	NOUN
fbem-26181	8	54	,	,	PUNCT
fbem-26181	8	55	then	then	ADV
fbem-26181	8	56	supporting	support	VERB
fbem-26181	8	57	china	china	PROPN
fbem-26181	8	58	’s	’s	PART
fbem-26181	8	59	economically	economically	ADV
fbem-26181	8	60	high	high	ADJ
fbem-26181	8	61	-	-	PUNCT
fbem-26181	8	62	quality	quality	NOUN
fbem-26181	8	63	development	development	NOUN
fbem-26181	8	64	;	;	PUNCT
fbem-26181	8	65	and	and	CCONJ
fbem-26181	8	66	the	the	DET
fbem-26181	8	67	prediction	prediction	NOUN
fbem-26181	8	68	of	of	ADP
fbem-26181	8	69	the	the	DET
fbem-26181	8	70	degree	degree	NOUN
fbem-26181	8	71	of	of	ADP
fbem-26181	8	72	the	the	DET
fbem-26181	8	73	financialization	financialization	NOUN
fbem-26181	8	74	of	of	ADP
fbem-26181	8	75	enterprises	enterprise	NOUN
fbem-26181	8	76	is	be	AUX
fbem-26181	8	77	conducive	conducive	ADJ
fbem-26181	8	78	to	to	ADP
fbem-26181	8	79	enhancing	enhance	VERB
fbem-26181	8	80	the	the	DET
fbem-26181	8	81	crisis	crisis	NOUN
fbem-26181	8	82	awareness	awareness	NOUN
fbem-26181	8	83	of	of	ADP
fbem-26181	8	84	the	the	DET
fbem-26181	8	85	non	non	ADJ
fbem-26181	8	86	-	-	ADJ
fbem-26181	8	87	financial	financial	ADJ
fbem-26181	8	88	enterprises	enterprise	NOUN
fbem-26181	8	89	in	in	ADP
fbem-26181	8	90	preventing	prevent	VERB
fbem-26181	8	91	the	the	DET
fbem-26181	8	92	risk	risk	NOUN
fbem-26181	8	93	of	of	ADP
fbem-26181	8	94	bubbles	bubble	NOUN
fbem-26181	8	95	and	and	CCONJ
fbem-26181	8	96	providing	provide	VERB
fbem-26181	8	97	certain	certain	ADJ
fbem-26181	8	98	empirical	empirical	ADJ
fbem-26181	8	99	support	support	NOUN
fbem-26181	8	100	for	for	ADP
fbem-26181	8	101	the	the	DET
fbem-26181	8	102	financial	financial	ADJ
fbem-26181	8	103	supervisory	supervisory	ADJ
fbem-26181	8	104	departments	department	NOUN
fbem-26181	8	105	.	.	PUNCT
fbem-26181	9	1	it	it	PRON
fbem-26181	9	2	also	also	ADV
fbem-26181	9	3	provides	provide	VERB
fbem-26181	9	4	financial	financial	ADJ
fbem-26181	9	5	regulators	regulator	NOUN
fbem-26181	9	6	with	with	ADP
fbem-26181	9	7	some	some	DET
fbem-26181	9	8	empirical	empirical	ADJ
fbem-26181	9	9	support	support	NOUN
fbem-26181	9	10	,	,	PUNCT
fbem-26181	9	11	and	and	CCONJ
fbem-26181	9	12	do	do	VERB
fbem-26181	9	13	favors	favor	NOUN
fbem-26181	9	14	in	in	ADP
fbem-26181	9	15	alleviating	alleviate	VERB
fbem-26181	9	16	the	the	DET
fbem-26181	9	17	"	"	PUNCT
fbem-26181	9	18	deconstruction	deconstruction	NOUN
fbem-26181	9	19	to	to	ADP
fbem-26181	9	20	de	de	NOUN
fbem-26181	9	21	-	-	NOUN
fbem-26181	9	22	virtualization	virtualization	NOUN
fbem-26181	9	23	"	"	PUNCT
fbem-26181	9	24	phenomenon	phenomenon	NOUN
fbem-26181	9	25	in	in	ADP
fbem-26181	9	26	china	china	PROPN
fbem-26181	9	27	’s	’s	PART
fbem-26181	9	28	economy	economy	NOUN
fbem-26181	9	29	.	.	PUNCT
fbem-26181	10	1	the	the	DET
fbem-26181	10	2	var	var	NOUN
fbem-26181	10	3	model	model	NOUN
fbem-26181	10	4	is	be	AUX
fbem-26181	10	5	suitable	suitable	ADJ
fbem-26181	10	6	for	for	ADP
fbem-26181	10	7	the	the	DET
fbem-26181	10	8	interrelationships	interrelationship	NOUN
fbem-26181	10	9	between	between	ADP
fbem-26181	10	10	variables	variable	NOUN
fbem-26181	10	11	in	in	ADP
fbem-26181	10	12	time	time	NOUN
fbem-26181	10	13	series	series	NOUN
fbem-26181	10	14	and	and	CCONJ
fbem-26181	10	15	the	the	DET
fbem-26181	10	16	dynamic	dynamic	ADJ
fbem-26181	10	17	analysis	analysis	NOUN
fbem-26181	10	18	of	of	ADP
fbem-26181	10	19	the	the	DET
fbem-26181	10	20	system	system	NOUN
fbem-26181	10	21	of	of	ADP
fbem-26181	10	22	randomly	randomly	ADV
fbem-26181	10	23	disturbed	disturb	VERB
fbem-26181	10	24	variables	variable	NOUN
fbem-26181	10	25	.	.	PUNCT
fbem-26181	11	1	in	in	ADP
fbem-26181	11	2	terms	term	NOUN
fbem-26181	11	3	of	of	ADP
fbem-26181	11	4	better	well	ADJ
fbem-26181	11	5	accuracy	accuracy	NOUN
fbem-26181	11	6	,	,	PUNCT
fbem-26181	11	7	in	in	ADP
fbem-26181	11	8	this	this	DET
fbem-26181	11	9	study	study	NOUN
fbem-26181	11	10	,	,	PUNCT
fbem-26181	11	11	in	in	ADP
fbem-26181	11	12	order	order	NOUN
fbem-26181	11	13	to	to	PART
fbem-26181	11	14	better	well	ADV
fbem-26181	11	15	analyze	analyze	VERB
fbem-26181	11	16	the	the	DET
fbem-26181	11	17	actual	actual	ADJ
fbem-26181	11	18	situation	situation	NOUN
fbem-26181	11	19	of	of	ADP
fbem-26181	11	20	different	different	ADJ
fbem-26181	11	21	enterprises	enterprise	NOUN
fbem-26181	11	22	and	and	CCONJ
fbem-26181	11	23	consider	consider	VERB
fbem-26181	11	24	the	the	DET
fbem-26181	11	25	individual	individual	ADJ
fbem-26181	11	26	effect	effect	NOUN
fbem-26181	11	27	and	and	CCONJ
fbem-26181	11	28	time	time	NOUN
fbem-26181	11	29	effect	effect	NOUN
fbem-26181	11	30	in	in	ADP
fbem-26181	11	31	a	a	DET
fbem-26181	11	32	more	more	ADV
fbem-26181	11	33	comprehensive	comprehensive	ADJ
fbem-26181	11	34	perspective	perspective	NOUN
fbem-26181	11	35	,	,	PUNCT
fbem-26181	11	36	we	we	PRON
fbem-26181	11	37	select	select	VERB
fbem-26181	11	38	the	the	DET
fbem-26181	11	39	pvar	pvar	NOUN
fbem-26181	11	40	model	model	NOUN
fbem-26181	11	41	for	for	ADP
fbem-26181	11	42	panel	panel	NOUN
fbem-26181	11	43	data	datum	NOUN
fbem-26181	11	44	analysis	analysis	NOUN
fbem-26181	11	45	the	the	DET
fbem-26181	11	46	pvar	pvar	ADJ
fbem-26181	11	47	model	model	NOUN
fbem-26181	11	48	is	be	AUX
fbem-26181	11	49	a	a	DET
fbem-26181	11	50	non	non	ADJ
fbem-26181	11	51	-	-	ADJ
fbem-26181	11	52	structural	structural	ADJ
fbem-26181	11	53	equation	equation	NOUN
fbem-26181	11	54	model	model	NOUN
fbem-26181	11	55	,	,	PUNCT
fbem-26181	11	56	which	which	PRON
fbem-26181	11	57	was	be	AUX
fbem-26181	11	58	proposed	propose	VERB
fbem-26181	11	59	by	by	ADP
fbem-26181	11	60	holtz	holtz	PROPN
fbem-26181	11	61	eakin	eakin	PROPN
fbem-26181	11	62	in	in	ADP
fbem-26181	11	63	1988	1988	NUM
fbem-26181	11	64	.	.	PUNCT
fbem-26181	12	1	the	the	DET
fbem-26181	12	2	model	model	NOUN
fbem-26181	12	3	is	be	AUX
fbem-26181	12	4	based	base	VERB
fbem-26181	12	5	on	on	ADP
fbem-26181	12	6	vector	vector	NOUN
fbem-26181	12	7	autoregressive	autoregressive	ADJ
fbem-26181	12	8	(	(	PUNCT
fbem-26181	12	9	var	var	NOUN
fbem-26181	12	10	)	)	PUNCT
fbem-26181	12	11	model	model	NOUN
fbem-26181	12	12	for	for	ADP
fbem-26181	12	13	predicting	predict	VERB
fbem-26181	12	14	and	and	CCONJ
fbem-26181	12	15	explaining	explain	VERB
fbem-26181	12	16	the	the	DET
fbem-26181	12	17	interactions	interaction	NOUN
fbem-26181	12	18	among	among	ADP
fbem-26181	12	19	macroeconomic	macroeconomic	ADJ
fbem-26181	12	20	variables	variable	NOUN
fbem-26181	12	21	.	.	PUNCT
fbem-26181	13	1	using	use	VERB
fbem-26181	13	2	pvar	pvar	NOUN
fbem-26181	13	3	model	model	NOUN
fbem-26181	13	4	to	to	PART
fbem-26181	13	5	do	do	VERB
fbem-26181	13	6	economic	economic	ADJ
fbem-26181	13	7	researches	research	NOUN
fbem-26181	13	8	is	be	AUX
fbem-26181	13	9	highly	highly	ADV
fbem-26181	13	10	effective	effective	ADJ
fbem-26181	13	11	for	for	SCONJ
fbem-26181	13	12	us	we	PRON
fbem-26181	13	13	to	to	PART
fbem-26181	13	14	estimate	estimate	VERB
fbem-26181	13	15	the	the	DET
fbem-26181	13	16	relationships	relationship	NOUN
fbem-26181	13	17	among	among	ADP
fbem-26181	13	18	all	all	DET
fbem-26181	13	19	the	the	DET
fbem-26181	13	20	endogenous	endogenous	ADJ
fbem-26181	13	21	variables	variable	NOUN
fbem-26181	13	22	dynamically	dynamically	ADV
fbem-26181	13	23	,	,	PUNCT
fbem-26181	13	24	and	and	CCONJ
fbem-26181	13	25	is	be	AUX
fbem-26181	13	26	widely	widely	ADV
fbem-26181	13	27	used	use	VERB
fbem-26181	13	28	to	to	PART
fbem-26181	13	29	analyze	analyze	VERB
fbem-26181	13	30	the	the	DET
fbem-26181	13	31	tendencies	tendency	NOUN
fbem-26181	13	32	of	of	ADP
fbem-26181	13	33	economic	economic	ADJ
fbem-26181	13	34	variables	variable	NOUN
fbem-26181	13	35	which	which	PRON
fbem-26181	13	36	are	be	AUX
fbem-26181	13	37	beneficial	beneficial	ADJ
fbem-26181	13	38	to	to	ADP
fbem-26181	13	39	the	the	DET
fbem-26181	13	40	high	high	ADJ
fbem-26181	13	41	-	-	PUNCT
fbem-26181	13	42	quality	quality	NOUN
fbem-26181	13	43	development	development	NOUN
fbem-26181	13	44	of	of	ADP
fbem-26181	13	45	china	china	PROPN
fbem-26181	13	46	.	.	PUNCT
fbem-26181	14	1	2	2	X
fbem-26181	14	2	.	.	X
fbem-26181	14	3	literature	literature	NOUN
fbem-26181	14	4	review	review	NOUN
fbem-26181	14	5	first	first	ADV
fbem-26181	14	6	of	of	ADP
fbem-26181	14	7	all	all	PRON
fbem-26181	14	8	,	,	PUNCT
fbem-26181	14	9	regarding	regard	VERB
fbem-26181	14	10	the	the	DET
fbem-26181	14	11	interrelationship	interrelationship	NOUN
fbem-26181	14	12	between	between	ADP
fbem-26181	14	13	the	the	DET
fbem-26181	14	14	development	development	NOUN
fbem-26181	14	15	of	of	ADP
fbem-26181	14	16	digital	digital	ADJ
fbem-26181	14	17	economy	economy	NOUN
fbem-26181	14	18	and	and	CCONJ
fbem-26181	14	19	the	the	DET
fbem-26181	14	20	enterprise	enterprise	NOUN
fbem-26181	14	21	financialization	financialization	NOUN
fbem-26181	14	22	,	,	PUNCT
fbem-26181	14	23	academics	academic	NOUN
fbem-26181	14	24	mainly	mainly	ADV
fbem-26181	14	25	carry	carry	VERB
fbem-26181	14	26	out	out	ADP
fbem-26181	14	27	research	research	NOUN
fbem-26181	14	28	from	from	ADP
fbem-26181	14	29	the	the	DET
fbem-26181	14	30	following	following	ADJ
fbem-26181	14	31	perspectives	perspective	NOUN
fbem-26181	14	32	.	.	PUNCT
fbem-26181	15	1	on	on	ADP
fbem-26181	15	2	the	the	DET
fbem-26181	15	3	one	one	NUM
fbem-26181	15	4	hand	hand	NOUN
fbem-26181	15	5	,	,	PUNCT
fbem-26181	15	6	some	some	DET
fbem-26181	15	7	scholars	scholar	NOUN
fbem-26181	15	8	have	have	AUX
fbem-26181	15	9	constructed	construct	VERB
fbem-26181	15	10	a	a	DET
fbem-26181	15	11	whole	whole	ADJ
fbem-26181	15	12	index	index	NOUN
fbem-26181	15	13	system	system	NOUN
fbem-26181	15	14	to	to	PART
fbem-26181	15	15	measure	measure	VERB
fbem-26181	15	16	the	the	DET
fbem-26181	15	17	level	level	NOUN
fbem-26181	15	18	of	of	ADP
fbem-26181	15	19	a	a	DET
fbem-26181	15	20	region	region	NOUN
fbem-26181	15	21	’s	’s	PART
fbem-26181	15	22	digital	digital	ADJ
fbem-26181	15	23	economy	economy	NOUN
fbem-26181	15	24	,	,	PUNCT
fbem-26181	15	25	and	and	CCONJ
fbem-26181	15	26	then	then	ADV
fbem-26181	15	27	studied	study	VERB
fbem-26181	15	28	the	the	DET
fbem-26181	15	29	impact	impact	NOUN
fbem-26181	15	30	on	on	ADP
fbem-26181	15	31	the	the	DET
fbem-26181	15	32	financialization	financialization	NOUN
fbem-26181	15	33	of	of	ADP
fbem-26181	15	34	enterprises	enterprise	NOUN
fbem-26181	15	35	.	.	PUNCT
fbem-26181	16	1	shi	shi	PROPN
fbem-26181	16	2	shuyu	shuyu	PROPN
fbem-26181	16	3	(	(	PUNCT
fbem-26181	16	4	2023	2023	NUM
fbem-26181	16	5	)	)	PUNCT
fbem-26181	16	6	,	,	PUNCT
fbem-26181	16	7	fan	fan	NOUN
fbem-26181	16	8	jingshu	jingshu	PROPN
fbem-26181	16	9	(	(	PUNCT
fbem-26181	16	10	2023	2023	NUM
fbem-26181	16	11	)	)	PUNCT
fbem-26181	16	12	and	and	CCONJ
fbem-26181	16	13	others	other	NOUN
fbem-26181	16	14	,	,	PUNCT
fbem-26181	16	15	for	for	ADP
fbem-26181	16	16	the	the	DET
fbem-26181	16	17	purpose	purpose	NOUN
fbem-26181	16	18	of	of	ADP
fbem-26181	16	19	focusing	focus	VERB
fbem-26181	16	20	on	on	ADP
fbem-26181	16	21	reckoning	reckon	VERB
fbem-26181	16	22	the	the	DET
fbem-26181	16	23	digital	digital	ADJ
fbem-26181	16	24	economy	economy	NOUN
fbem-26181	16	25	as	as	ADP
fbem-26181	16	26	one	one	NUM
fbem-26181	16	27	of	of	ADP
fbem-26181	16	28	the	the	DET
fbem-26181	16	29	latest	late	ADJ
fbem-26181	16	30	factors	factor	NOUN
fbem-26181	16	31	of	of	ADP
fbem-26181	16	32	economic	economic	ADJ
fbem-26181	16	33	growth	growth	NOUN
fbem-26181	16	34	,	,	PUNCT
fbem-26181	16	35	selecting	select	VERB
fbem-26181	16	36	the	the	DET
fbem-26181	16	37	relevant	relevant	ADJ
fbem-26181	16	38	financial	financial	ADJ
fbem-26181	16	39	data	datum	NOUN
fbem-26181	16	40	and	and	CCONJ
fbem-26181	16	41	digital	digital	ADJ
fbem-26181	16	42	financial	financial	ADJ
fbem-26181	16	43	inclusion	inclusion	NOUN
fbem-26181	16	44	indexes	index	NOUN
fbem-26181	16	45	of	of	ADP
fbem-26181	16	46	12,942	12,942	NUM
fbem-26181	16	47	listed	list	VERB
fbem-26181	16	48	enterprises	enterprise	NOUN
fbem-26181	16	49	on	on	ADP
fbem-26181	16	50	the	the	DET
fbem-26181	16	51	shanghai	shanghai	PROPN
fbem-26181	16	52	and	and	CCONJ
fbem-26181	16	53	the	the	DET
fbem-26181	16	54	shenzhen	shenzhen	PROPN
fbem-26181	16	55	stock	stock	PROPN
fbem-26181	16	56	exchange	exchange	PROPN
fbem-26181	16	57	and	and	CCONJ
fbem-26181	16	58	based	base	VERB
fbem-26181	16	59	on	on	ADP
fbem-26181	16	60	the	the	DET
fbem-26181	16	61	existing	exist	VERB
fbem-26181	16	62	research	research	NOUN
fbem-26181	16	63	’s	’s	PART
fbem-26181	16	64	evaluation	evaluation	NOUN
fbem-26181	16	65	mode	mode	NOUN
fbem-26181	16	66	of	of	ADP
fbem-26181	16	67	index	index	NOUN
fbem-26181	16	68	system	system	NOUN
fbem-26181	16	69	which	which	PRON
fbem-26181	16	70	is	be	AUX
fbem-26181	16	71	used	use	VERB
fbem-26181	16	72	to	to	PART
fbem-26181	16	73	calculate	calculate	VERB
fbem-26181	16	74	the	the	DET
fbem-26181	16	75	value	value	NOUN
fbem-26181	16	76	of	of	ADP
fbem-26181	16	77	digital	digital	ADJ
fbem-26181	16	78	economy	economy	NOUN
fbem-26181	16	79	in	in	ADP
fbem-26181	16	80	some	some	DET
fbem-26181	16	81	region	region	NOUN
fbem-26181	16	82	.	.	PUNCT
fbem-26181	17	1	besides	besides	SCONJ
fbem-26181	17	2	,	,	PUNCT
fbem-26181	17	3	there	there	PRON
fbem-26181	17	4	were	be	VERB
fbem-26181	17	5	plenty	plenty	NOUN
fbem-26181	17	6	of	of	ADP
fbem-26181	17	7	scholars	scholar	NOUN
fbem-26181	17	8	drawn	draw	VERB
fbem-26181	17	9	the	the	DET
fbem-26181	17	10	conclusion	conclusion	NOUN
fbem-26181	17	11	with	with	ADP
fbem-26181	17	12	the	the	DET
fbem-26181	17	13	use	use	NOUN
fbem-26181	17	14	of	of	ADP
fbem-26181	17	15	panel	panel	NOUN
fbem-26181	17	16	data	datum	NOUN
fbem-26181	17	17	fixed	fix	VERB
fbem-26181	17	18	-	-	PUNCT
fbem-26181	17	19	effects	effect	NOUN
fbem-26181	17	20	model	model	NOUN
fbem-26181	17	21	for	for	ADP
fbem-26181	17	22	empirical	empirical	ADJ
fbem-26181	17	23	analysis	analysis	NOUN
fbem-26181	17	24	:	:	PUNCT
fbem-26181	17	25	the	the	DET
fbem-26181	17	26	regional	regional	ADJ
fbem-26181	17	27	digital	digital	ADJ
fbem-26181	17	28	economy	economy	NOUN
fbem-26181	17	29	development	development	NOUN
fbem-26181	17	30	on	on	ADP
fbem-26181	17	31	the	the	DET
fbem-26181	17	32	financialization	financialization	NOUN
fbem-26181	17	33	of	of	ADP
fbem-26181	17	34	enterprises	enterprise	NOUN
fbem-26181	17	35	make	make	VERB
fbem-26181	17	36	a	a	DET
fbem-26181	17	37	preternatural	preternatural	ADJ
fbem-26181	17	38	contribution	contribution	NOUN
fbem-26181	17	39	on	on	ADP
fbem-26181	17	40	promoting	promote	VERB
fbem-26181	17	41	,	,	PUNCT
fbem-26181	17	42	and	and	CCONJ
fbem-26181	17	43	the	the	DET
fbem-26181	17	44	impact	impact	NOUN
fbem-26181	17	45	on	on	ADP
fbem-26181	17	46	the	the	DET
fbem-26181	17	47	non	non	ADJ
fbem-26181	17	48	-	-	ADJ
fbem-26181	17	49	stateowned	stateowned	ADJ
fbem-26181	17	50	entity	entity	NOUN
fbem-26181	17	51	enterprise	enterprise	NOUN
fbem-26181	17	52	's	's	PART
fbem-26181	17	53	greater	great	ADJ
fbem-26181	17	54	role	role	NOUN
fbem-26181	17	55	in	in	ADP
fbem-26181	17	56	the	the	DET
fbem-26181	17	57	conclusion	conclusion	NOUN
fbem-26181	17	58	.	.	PUNCT
fbem-26181	18	1	on	on	ADP
fbem-26181	18	2	the	the	DET
fbem-26181	18	3	other	other	ADJ
fbem-26181	18	4	hand	hand	NOUN
fbem-26181	18	5	,	,	PUNCT
fbem-26181	18	6	more	more	ADJ
fbem-26181	18	7	scholars	scholar	NOUN
fbem-26181	18	8	concentrate	concentrate	VERB
fbem-26181	18	9	on	on	ADP
fbem-26181	18	10	the	the	DET
fbem-26181	18	11	impact	impact	NOUN
fbem-26181	18	12	of	of	ADP
fbem-26181	18	13	digital	digital	ADJ
fbem-26181	18	14	finance	finance	NOUN
fbem-26181	18	15	that	that	PRON
fbem-26181	18	16	is	be	AUX
fbem-26181	18	17	generated	generate	VERB
fbem-26181	18	18	by	by	ADP
fbem-26181	18	19	the	the	DET
fbem-26181	18	20	gradually	gradually	ADV
fbem-26181	18	21	mature	mature	ADJ
fbem-26181	18	22	combination	combination	NOUN
fbem-26181	18	23	of	of	ADP
fbem-26181	18	24	digital	digital	ADJ
fbem-26181	18	25	technology	technology	NOUN
fbem-26181	18	26	and	and	CCONJ
fbem-26181	18	27	the	the	DET
fbem-26181	18	28	financial	financial	ADJ
fbem-26181	18	29	industry	industry	NOUN
fbem-26181	18	30	on	on	ADP
fbem-26181	18	31	the	the	DET
fbem-26181	18	32	financialization	financialization	NOUN
fbem-26181	18	33	of	of	ADP
fbem-26181	18	34	enterprises	enterprise	NOUN
fbem-26181	18	35	.	.	PUNCT
fbem-26181	19	1	zhong	zhong	PROPN
fbem-26181	19	2	kai	kai	PROPN
fbem-26181	19	3	(	(	PUNCT
fbem-26181	19	4	2022	2022	NUM
fbem-26181	19	5	)	)	PUNCT
fbem-26181	19	6	,	,	PUNCT
fbem-26181	19	7	in	in	ADP
fbem-26181	19	8	the	the	DET
fbem-26181	19	9	context	context	NOUN
fbem-26181	19	10	of	of	ADP
fbem-26181	19	11	digital	digital	ADJ
fbem-26181	19	12	finance	finance	NOUN
fbem-26181	19	13	which	which	PRON
fbem-26181	19	14	is	be	AUX
fbem-26181	19	15	set	set	VERB
fbem-26181	19	16	for	for	ADP
fbem-26181	19	17	every	every	DET
fbem-26181	19	18	single	single	ADJ
fbem-26181	19	19	economic	economic	ADJ
fbem-26181	19	20	agent	agent	NOUN
fbem-26181	19	21	is	be	AUX
fbem-26181	19	22	a	a	DET
fbem-26181	19	23	key	key	ADJ
fbem-26181	19	24	link	link	NOUN
fbem-26181	19	25	for	for	ADP
fbem-26181	19	26	the	the	DET
fbem-26181	19	27	financial	financial	ADJ
fbem-26181	19	28	economy	economy	NOUN
fbem-26181	19	29	to	to	ADP
fbem-26181	19	30	129	129	NUM
fbem-26181	19	31	better	well	ADV
fbem-26181	19	32	serve	serve	VERB
fbem-26181	19	33	the	the	DET
fbem-26181	19	34	real	real	ADJ
fbem-26181	19	35	economy	economy	NOUN
fbem-26181	19	36	and	and	CCONJ
fbem-26181	19	37	realize	realize	VERB
fbem-26181	19	38	the	the	DET
fbem-26181	19	39	high	high	ADJ
fbem-26181	19	40	-	-	PUNCT
fbem-26181	19	41	standard	standard	NOUN
fbem-26181	19	42	development	development	NOUN
fbem-26181	19	43	,	,	PUNCT
fbem-26181	19	44	using	use	VERB
fbem-26181	19	45	the	the	DET
fbem-26181	19	46	relevant	relevant	ADJ
fbem-26181	19	47	financial	financial	ADJ
fbem-26181	19	48	data	datum	NOUN
fbem-26181	19	49	of	of	ADP
fbem-26181	19	50	shanghai	shanghai	PROPN
fbem-26181	19	51	and	and	CCONJ
fbem-26181	19	52	shenzhen	shenzhen	PROPN
fbem-26181	19	53	stock	stock	PROPN
fbem-26181	19	54	exchange	exchange	PROPN
fbem-26181	19	55	’s	’s	PART
fbem-26181	19	56	a	a	DET
fbem-26181	19	57	-	-	PUNCT
fbem-26181	19	58	share	share	NOUN
fbem-26181	19	59	non	non	ADJ
fbem-26181	19	60	-	-	ADJ
fbem-26181	19	61	financial	financial	ADJ
fbem-26181	19	62	listed	list	VERB
fbem-26181	19	63	companies	company	NOUN
fbem-26181	19	64	and	and	CCONJ
fbem-26181	19	65	the	the	DET
fbem-26181	19	66	“	"	PUNCT
fbem-26181	19	67	digital	digital	ADJ
fbem-26181	19	68	inclusive	inclusive	ADJ
fbem-26181	19	69	finance	finance	NOUN
fbem-26181	19	70	index	index	NOUN
fbem-26181	19	71	”	"	PUNCT
fbem-26181	19	72	,	,	PUNCT
fbem-26181	19	73	created	create	VERB
fbem-26181	19	74	by	by	ADP
fbem-26181	19	75	digital	digital	PROPN
fbem-26181	19	76	finance	finance	PROPN
fbem-26181	19	77	institute	institute	NOUN
fbem-26181	19	78	from	from	ADP
fbem-26181	19	79	peking	peking	PROPN
fbem-26181	19	80	university	university	NOUN
fbem-26181	19	81	,	,	PUNCT
fbem-26181	19	82	and	and	CCONJ
fbem-26181	19	83	based	base	VERB
fbem-26181	19	84	on	on	ADP
fbem-26181	19	85	the	the	DET
fbem-26181	19	86	baseline	baseline	PROPN
fbem-26181	19	87	regression	regression	NOUN
fbem-26181	19	88	methodology	methodology	NOUN
fbem-26181	19	89	and	and	CCONJ
fbem-26181	19	90	the	the	DET
fbem-26181	19	91	mechanism	mechanism	NOUN
fbem-26181	19	92	testing	testing	NOUN
fbem-26181	19	93	methodology	methodology	NOUN
fbem-26181	19	94	,	,	PUNCT
fbem-26181	19	95	it	it	PRON
fbem-26181	19	96	is	be	AUX
fbem-26181	19	97	the	the	DET
fbem-26181	19	98	digital	digital	ADJ
fbem-26181	19	99	finance	finance	NOUN
fbem-26181	19	100	like	like	SCONJ
fbem-26181	19	101	i	i	PRON
fbem-26181	19	102	’ve	’ve	AUX
fbem-26181	19	103	mentioned	mention	VERB
fbem-26181	19	104	above	above	ADV
fbem-26181	19	105	has	have	VERB
fbem-26181	19	106	a	a	DET
fbem-26181	19	107	certain	certain	ADJ
fbem-26181	19	108	inhibitory	inhibitory	ADJ
fbem-26181	19	109	effect	effect	NOUN
fbem-26181	19	110	on	on	ADP
fbem-26181	19	111	the	the	DET
fbem-26181	19	112	financialization	financialization	NOUN
fbem-26181	19	113	of	of	ADP
fbem-26181	19	114	real	real	ADJ
fbem-26181	19	115	enterprises	enterprise	NOUN
fbem-26181	19	116	,	,	PUNCT
fbem-26181	19	117	and	and	CCONJ
fbem-26181	19	118	this	this	DET
fbem-26181	19	119	negative	negative	ADJ
fbem-26181	19	120	effect	effect	NOUN
fbem-26181	19	121	will	will	AUX
fbem-26181	19	122	be	be	AUX
fbem-26181	19	123	more	more	ADV
fbem-26181	19	124	obvious	obvious	ADJ
fbem-26181	19	125	when	when	SCONJ
fbem-26181	19	126	the	the	DET
fbem-26181	19	127	return	return	NOUN
fbem-26181	19	128	rate	rate	NOUN
fbem-26181	19	129	of	of	ADP
fbem-26181	19	130	financial	financial	ADJ
fbem-26181	19	131	investment	investment	NOUN
fbem-26181	19	132	is	be	AUX
fbem-26181	19	133	higher	high	ADJ
fbem-26181	19	134	and	and	CCONJ
fbem-26181	19	135	the	the	DET
fbem-26181	19	136	scale	scale	NOUN
fbem-26181	19	137	of	of	ADP
fbem-26181	19	138	shadow	shadow	NOUN
fbem-26181	19	139	banking	banking	NOUN
fbem-26181	19	140	is	be	AUX
fbem-26181	19	141	larger	large	ADJ
fbem-26181	19	142	.	.	PUNCT
fbem-26181	20	1	gao	gao	PROPN
fbem-26181	20	2	et	et	PROPN
fbem-26181	20	3	al	al	PROPN
fbem-26181	20	4	.	.	PROPN
fbem-26181	21	1	(	(	PUNCT
fbem-26181	21	2	2023	2023	NUM
fbem-26181	21	3	)	)	PUNCT
fbem-26181	21	4	focus	focus	NOUN
fbem-26181	21	5	on	on	ADP
fbem-26181	21	6	the	the	DET
fbem-26181	21	7	problem	problem	NOUN
fbem-26181	21	8	of	of	ADP
fbem-26181	21	9	systemic	systemic	ADJ
fbem-26181	21	10	risk	risk	NOUN
fbem-26181	21	11	of	of	ADP
fbem-26181	21	12	financialization	financialization	NOUN
fbem-26181	21	13	of	of	ADP
fbem-26181	21	14	real	real	ADJ
fbem-26181	21	15	economy	economy	NOUN
fbem-26181	21	16	,	,	PUNCT
fbem-26181	21	17	characterize	characterize	VERB
fbem-26181	21	18	digital	digital	ADJ
fbem-26181	21	19	finance	finance	NOUN
fbem-26181	21	20	through	through	ADP
fbem-26181	21	21	the	the	DET
fbem-26181	21	22	technology	technology	NOUN
fbem-26181	21	23	of	of	ADP
fbem-26181	21	24	machine	machine	NOUN
fbem-26181	21	25	learning	learning	NOUN
fbem-26181	21	26	,	,	PUNCT
fbem-26181	21	27	which	which	PRON
fbem-26181	21	28	is	be	AUX
fbem-26181	21	29	realized	realize	VERB
fbem-26181	21	30	mainly	mainly	ADV
fbem-26181	21	31	by	by	ADP
fbem-26181	21	32	grab	grab	VERB
fbem-26181	21	33	such	such	ADJ
fbem-26181	21	34	information	information	NOUN
fbem-26181	21	35	in	in	ADP
fbem-26181	21	36	the	the	DET
fbem-26181	21	37	business	business	NOUN
fbem-26181	21	38	scope	scope	NOUN
fbem-26181	21	39	of	of	ADP
fbem-26181	21	40	smes	sme	NOUN
fbem-26181	21	41	,	,	PUNCT
fbem-26181	21	42	and	and	CCONJ
fbem-26181	21	43	the	the	DET
fbem-26181	21	44	research	research	NOUN
fbem-26181	21	45	evidence	evidence	NOUN
fbem-26181	21	46	concluded	conclude	VERB
fbem-26181	21	47	from	from	ADP
fbem-26181	21	48	the	the	DET
fbem-26181	21	49	outcomes	outcome	NOUN
fbem-26181	21	50	based	base	VERB
fbem-26181	21	51	on	on	ADP
fbem-26181	21	52	panel	panel	NOUN
fbem-26181	21	53	fixed	fix	VERB
fbem-26181	21	54	effect	effect	NOUN
fbem-26181	21	55	shows	show	VERB
fbem-26181	21	56	that	that	SCONJ
fbem-26181	21	57	the	the	DET
fbem-26181	21	58	digital	digital	ADJ
fbem-26181	21	59	finance	finance	NOUN
fbem-26181	21	60	prominently	prominently	ADV
fbem-26181	21	61	confines	confine	VERB
fbem-26181	21	62	smes	sme	NOUN
fbem-26181	21	63	'	'	PART
fbem-26181	21	64	financialization	financialization	NOUN
fbem-26181	21	65	and	and	CCONJ
fbem-26181	21	66	reduces	reduce	VERB
fbem-26181	21	67	smes	sme	NOUN
fbem-26181	21	68	'	'	PART
fbem-26181	21	69	insolvency	insolvency	NOUN
fbem-26181	21	70	risk	risk	NOUN
fbem-26181	21	71	by	by	ADP
fbem-26181	21	72	alleviating	alleviate	VERB
fbem-26181	21	73	financing	financing	NOUN
fbem-26181	21	74	constraints	constraint	NOUN
fbem-26181	21	75	.	.	PUNCT
fbem-26181	22	1	then	then	ADV
fbem-26181	22	2	,	,	PUNCT
fbem-26181	22	3	regarding	regard	VERB
fbem-26181	22	4	the	the	DET
fbem-26181	22	5	proposed	propose	VERB
fbem-26181	22	6	research	research	NOUN
fbem-26181	22	7	methods	method	NOUN
fbem-26181	22	8	to	to	PART
fbem-26181	22	9	study	study	VERB
fbem-26181	22	10	the	the	DET
fbem-26181	22	11	interrelationship	interrelationship	NOUN
fbem-26181	22	12	between	between	ADP
fbem-26181	22	13	the	the	DET
fbem-26181	22	14	development	development	NOUN
fbem-26181	22	15	of	of	ADP
fbem-26181	22	16	digital	digital	ADJ
fbem-26181	22	17	economy	economy	NOUN
fbem-26181	22	18	and	and	CCONJ
fbem-26181	22	19	the	the	DET
fbem-26181	22	20	enterprise	enterprise	NOUN
fbem-26181	22	21	financialization	financialization	NOUN
fbem-26181	22	22	and	and	CCONJ
fbem-26181	22	23	their	their	PRON
fbem-26181	22	24	prediction	prediction	NOUN
fbem-26181	22	25	,	,	PUNCT
fbem-26181	22	26	there	there	PRON
fbem-26181	22	27	are	be	VERB
fbem-26181	22	28	several	several	ADJ
fbem-26181	22	29	main	main	ADJ
fbem-26181	22	30	ones	one	NOUN
fbem-26181	22	31	.	.	PUNCT
fbem-26181	23	1	in	in	ADP
fbem-26181	23	2	the	the	DET
fbem-26181	23	3	field	field	NOUN
fbem-26181	23	4	of	of	ADP
fbem-26181	23	5	economics	economic	NOUN
fbem-26181	23	6	research	research	NOUN
fbem-26181	23	7	,	,	PUNCT
fbem-26181	23	8	panel	panel	NOUN
fbem-26181	23	9	data	data	VERB
fbem-26181	23	10	fixed	fix	VERB
fbem-26181	23	11	effects	effect	NOUN
fbem-26181	23	12	modeling	modeling	NOUN
fbem-26181	23	13	is	be	AUX
fbem-26181	23	14	widely	widely	ADV
fbem-26181	23	15	used	use	VERB
fbem-26181	23	16	to	to	PART
fbem-26181	23	17	study	study	VERB
fbem-26181	23	18	the	the	DET
fbem-26181	23	19	relationship	relationship	NOUN
fbem-26181	23	20	of	of	ADP
fbem-26181	23	21	the	the	DET
fbem-26181	23	22	influence	influence	NOUN
fbem-26181	23	23	of	of	ADP
fbem-26181	23	24	one	one	NUM
fbem-26181	23	25	variable	variable	NOUN
fbem-26181	23	26	on	on	ADP
fbem-26181	23	27	another	another	PRON
fbem-26181	23	28	.	.	PUNCT
fbem-26181	24	1	yang	yang	PROPN
fbem-26181	24	2	lisheng	lisheng	PROPN
fbem-26181	24	3	et	et	PROPN
fbem-26181	24	4	al	al	PROPN
fbem-26181	24	5	.	.	PROPN
fbem-26181	24	6	(	(	PUNCT
fbem-26181	24	7	2023	2023	NUM
fbem-26181	24	8	)	)	PUNCT
fbem-26181	24	9	,	,	PUNCT
fbem-26181	24	10	an	an	DET
fbem-26181	24	11	jie	jie	NOUN
fbem-26181	24	12	(	(	PUNCT
fbem-26181	24	13	2023	2023	NUM
fbem-26181	24	14	)	)	PUNCT
fbem-26181	24	15	,	,	PUNCT
fbem-26181	24	16	min	min	PROPN
fbem-26181	24	17	zhihui	zhihui	PROPN
fbem-26181	24	18	et	et	PROPN
fbem-26181	24	19	al	al	PROPN
fbem-26181	24	20	.	.	PROPN
fbem-26181	24	21	(	(	PUNCT
fbem-26181	24	22	2023	2023	NUM
fbem-26181	24	23	)	)	PUNCT
fbem-26181	24	24	and	and	CCONJ
fbem-26181	24	25	other	other	ADJ
fbem-26181	24	26	scholars	scholar	NOUN
fbem-26181	24	27	from	from	ADP
fbem-26181	24	28	different	different	ADJ
fbem-26181	24	29	starting	starting	NOUN
fbem-26181	24	30	points	point	NOUN
fbem-26181	24	31	,	,	PUNCT
fbem-26181	24	32	using	use	VERB
fbem-26181	24	33	different	different	ADJ
fbem-26181	24	34	samples	sample	NOUN
fbem-26181	24	35	,	,	PUNCT
fbem-26181	24	36	based	base	VERB
fbem-26181	24	37	on	on	ADP
fbem-26181	24	38	the	the	DET
fbem-26181	24	39	panel	panel	NOUN
fbem-26181	24	40	fixed	fix	VERB
fbem-26181	24	41	effects	effect	NOUN
fbem-26181	24	42	model	model	NOUN
fbem-26181	24	43	and	and	CCONJ
fbem-26181	24	44	mediated	mediate	VERB
fbem-26181	24	45	effects	effect	NOUN
fbem-26181	24	46	analysis	analysis	NOUN
fbem-26181	24	47	methods	method	NOUN
fbem-26181	24	48	to	to	PART
fbem-26181	24	49	find	find	VERB
fbem-26181	24	50	the	the	DET
fbem-26181	24	51	relationships	relationship	NOUN
fbem-26181	24	52	of	of	ADP
fbem-26181	24	53	the	the	DET
fbem-26181	24	54	level	level	NOUN
fbem-26181	24	55	of	of	ADP
fbem-26181	24	56	the	the	DET
fbem-26181	24	57	regional	regional	ADJ
fbem-26181	24	58	digital	digital	ADJ
fbem-26181	24	59	economy	economy	NOUN
fbem-26181	24	60	on	on	ADP
fbem-26181	24	61	enterprise	enterprise	NOUN
fbem-26181	24	62	financialization	financialization	NOUN
fbem-26181	24	63	,	,	PUNCT
fbem-26181	25	1	and	and	CCONJ
fbem-26181	26	1	obtained	obtain	VERB
fbem-26181	26	2	that	that	SCONJ
fbem-26181	26	3	the	the	DET
fbem-26181	26	4	digital	digital	ADJ
fbem-26181	26	5	economy	economy	NOUN
fbem-26181	26	6	is	be	AUX
fbem-26181	26	7	a	a	DET
fbem-26181	26	8	crucial	crucial	ADJ
fbem-26181	26	9	promotional	promotional	ADJ
fbem-26181	26	10	effect	effect	NOUN
fbem-26181	26	11	on	on	ADP
fbem-26181	26	12	the	the	DET
fbem-26181	26	13	enterprise	enterprise	NOUN
fbem-26181	26	14	financialization	financialization	NOUN
fbem-26181	26	15	and	and	CCONJ
fbem-26181	26	16	through	through	ADP
fbem-26181	26	17	the	the	DET
fbem-26181	26	18	alleviation	alleviation	NOUN
fbem-26181	26	19	of	of	ADP
fbem-26181	26	20	financial	financial	ADJ
fbem-26181	26	21	constraints	constraint	NOUN
fbem-26181	26	22	.	.	PUNCT
fbem-26181	27	1	to	to	PART
fbem-26181	27	2	explain	explain	VERB
fbem-26181	27	3	further	far	ADV
fbem-26181	27	4	,	,	PUNCT
fbem-26181	27	5	that	that	PRON
fbem-26181	27	6	means	mean	VERB
fbem-26181	27	7	alleviating	alleviate	VERB
fbem-26181	27	8	the	the	DET
fbem-26181	27	9	dilemma	dilemma	NOUN
fbem-26181	27	10	of	of	ADP
fbem-26181	27	11	gathering	gather	VERB
fbem-26181	27	12	financial	financial	ADJ
fbem-26181	27	13	support	support	NOUN
fbem-26181	27	14	,	,	PUNCT
fbem-26181	27	15	reducing	reduce	VERB
fbem-26181	27	16	financing	financing	NOUN
fbem-26181	27	17	costs	cost	NOUN
fbem-26181	27	18	and	and	CCONJ
fbem-26181	27	19	playing	play	VERB
fbem-26181	27	20	a	a	DET
fbem-26181	27	21	fully	fully	ADV
fbem-26181	27	22	mediating	mediate	VERB
fbem-26181	27	23	role	role	NOUN
fbem-26181	27	24	in	in	ADP
fbem-26181	27	25	the	the	DET
fbem-26181	27	26	financialization	financialization	NOUN
fbem-26181	27	27	effect	effect	NOUN
fbem-26181	27	28	.	.	PUNCT
fbem-26181	28	1	the	the	DET
fbem-26181	28	2	pvar	pvar	PROPN
fbem-26181	28	3	model	model	NOUN
fbem-26181	28	4	,	,	PUNCT
fbem-26181	28	5	as	as	SCONJ
fbem-26181	28	6	a	a	DET
fbem-26181	28	7	panel	panel	NOUN
fbem-26181	28	8	data	data	VERB
fbem-26181	28	9	analysis	analysis	NOUN
fbem-26181	28	10	model	model	NOUN
fbem-26181	28	11	for	for	ADP
fbem-26181	28	12	trending	trend	VERB
fbem-26181	28	13	time	time	NOUN
fbem-26181	28	14	series	series	NOUN
fbem-26181	28	15	,	,	PUNCT
fbem-26181	28	16	is	be	AUX
fbem-26181	28	17	more	more	ADV
fbem-26181	28	18	suitable	suitable	ADJ
fbem-26181	28	19	for	for	ADP
fbem-26181	28	20	analyzing	analyze	VERB
fbem-26181	28	21	complex	complex	ADJ
fbem-26181	28	22	relationships	relationship	NOUN
fbem-26181	28	23	among	among	ADP
fbem-26181	28	24	multiple	multiple	ADJ
fbem-26181	28	25	variables	variable	NOUN
fbem-26181	28	26	.	.	PUNCT
fbem-26181	29	1	oguzhan	oguzhan	ADJ
fbem-26181	29	2	ozcelebi	ozcelebi	NOUN
fbem-26181	29	3	(	(	PUNCT
fbem-26181	29	4	2018	2018	NUM
fbem-26181	29	5	)	)	PUNCT
fbem-26181	29	6	paid	pay	VERB
fbem-26181	29	7	attention	attention	NOUN
fbem-26181	29	8	to	to	ADP
fbem-26181	29	9	the	the	DET
fbem-26181	29	10	dynamic	dynamic	ADJ
fbem-26181	29	11	correlation	correlation	NOUN
fbem-26181	29	12	problem	problem	NOUN
fbem-26181	29	13	of	of	ADP
fbem-26181	29	14	the	the	DET
fbem-26181	29	15	money	money	NOUN
fbem-26181	29	16	market	market	NOUN
fbem-26181	29	17	and	and	CCONJ
fbem-26181	29	18	financial	financial	ADJ
fbem-26181	29	19	market	market	NOUN
fbem-26181	29	20	,	,	PUNCT
fbem-26181	29	21	selected	select	VERB
fbem-26181	29	22	the	the	DET
fbem-26181	29	23	exchange	exchange	NOUN
fbem-26181	29	24	rate	rate	NOUN
fbem-26181	29	25	data	datum	NOUN
fbem-26181	29	26	of	of	ADP
fbem-26181	29	27	10	10	NUM
fbem-26181	29	28	oecd	oecd	PROPN
fbem-26181	29	29	countries	country	NOUN
fbem-26181	29	30	,	,	PUNCT
fbem-26181	29	31	the	the	DET
fbem-26181	29	32	growth	growth	NOUN
fbem-26181	29	33	rate	rate	NOUN
fbem-26181	29	34	of	of	ADP
fbem-26181	29	35	industrial	industrial	ADJ
fbem-26181	29	36	production	production	NOUN
fbem-26181	29	37	,	,	PUNCT
fbem-26181	29	38	cpi	cpi	PROPN
fbem-26181	29	39	,	,	PUNCT
fbem-26181	29	40	short	short	ADJ
fbem-26181	29	41	-	-	PUNCT
fbem-26181	29	42	term	term	NOUN
fbem-26181	29	43	interest	interest	NOUN
fbem-26181	29	44	rates	rate	NOUN
fbem-26181	29	45	and	and	CCONJ
fbem-26181	29	46	stock	stock	NOUN
fbem-26181	29	47	payback	payback	NOUN
fbem-26181	29	48	to	to	PART
fbem-26181	29	49	construct	construct	VERB
fbem-26181	29	50	the	the	DET
fbem-26181	29	51	pvar	pvar	NOUN
fbem-26181	29	52	model	model	NOUN
fbem-26181	29	53	,	,	PUNCT
fbem-26181	29	54	and	and	CCONJ
fbem-26181	29	55	obtained	obtain	VERB
fbem-26181	29	56	that	that	DET
fbem-26181	29	57	exchange	exchange	NOUN
fbem-26181	29	58	rate	rate	NOUN
fbem-26181	29	59	fluctuations	fluctuation	NOUN
fbem-26181	29	60	and	and	CCONJ
fbem-26181	29	61	inflation	inflation	NOUN
fbem-26181	29	62	have	have	VERB
fbem-26181	29	63	a	a	DET
fbem-26181	29	64	small	small	ADJ
fbem-26181	29	65	impact	impact	NOUN
fbem-26181	29	66	on	on	ADP
fbem-26181	29	67	the	the	DET
fbem-26181	29	68	financial	financial	ADJ
fbem-26181	29	69	market	market	NOUN
fbem-26181	29	70	and	and	CCONJ
fbem-26181	29	71	positively	positively	ADV
fbem-26181	29	72	contribute	contribute	VERB
fbem-26181	29	73	to	to	ADP
fbem-26181	29	74	the	the	DET
fbem-26181	29	75	growth	growth	NOUN
fbem-26181	29	76	of	of	ADP
fbem-26181	29	77	the	the	DET
fbem-26181	29	78	real	real	ADJ
fbem-26181	29	79	economy	economy	NOUN
fbem-26181	29	80	.	.	PUNCT
fbem-26181	30	1	combing	comb	VERB
fbem-26181	30	2	through	through	ADP
fbem-26181	30	3	the	the	DET
fbem-26181	30	4	existing	exist	VERB
fbem-26181	30	5	domestic	domestic	ADJ
fbem-26181	30	6	and	and	CCONJ
fbem-26181	30	7	international	international	ADJ
fbem-26181	30	8	studies	study	NOUN
fbem-26181	30	9	,	,	PUNCT
fbem-26181	30	10	it	it	PRON
fbem-26181	30	11	can	can	AUX
fbem-26181	30	12	be	be	AUX
fbem-26181	30	13	found	find	VERB
fbem-26181	30	14	that	that	SCONJ
fbem-26181	30	15	the	the	DET
fbem-26181	30	16	existing	exist	VERB
fbem-26181	30	17	studies	study	NOUN
fbem-26181	30	18	on	on	ADP
fbem-26181	30	19	the	the	DET
fbem-26181	30	20	relevance	relevance	NOUN
fbem-26181	30	21	between	between	ADP
fbem-26181	30	22	the	the	DET
fbem-26181	30	23	digital	digital	ADJ
fbem-26181	30	24	economy	economy	NOUN
fbem-26181	30	25	and	and	CCONJ
fbem-26181	30	26	enterprise	enterprise	NOUN
fbem-26181	30	27	financialization	financialization	NOUN
fbem-26181	30	28	mostly	mostly	ADV
fbem-26181	30	29	focus	focus	VERB
fbem-26181	30	30	on	on	ADP
fbem-26181	30	31	the	the	DET
fbem-26181	30	32	consideration	consideration	NOUN
fbem-26181	30	33	of	of	ADP
fbem-26181	30	34	the	the	DET
fbem-26181	30	35	role	role	NOUN
fbem-26181	30	36	of	of	ADP
fbem-26181	30	37	the	the	DET
fbem-26181	30	38	regional	regional	ADJ
fbem-26181	30	39	or	or	CCONJ
fbem-26181	30	40	the	the	DET
fbem-26181	30	41	level	level	NOUN
fbem-26181	30	42	of	of	ADP
fbem-26181	30	43	digitalization	digitalization	NOUN
fbem-26181	30	44	in	in	ADP
fbem-26181	30	45	an	an	DET
fbem-26181	30	46	enterprise	enterprise	NOUN
fbem-26181	30	47	on	on	ADP
fbem-26181	30	48	the	the	DET
fbem-26181	30	49	impact	impact	NOUN
fbem-26181	30	50	of	of	ADP
fbem-26181	30	51	enterprise	enterprise	NOUN
fbem-26181	30	52	financialization	financialization	NOUN
fbem-26181	30	53	and	and	CCONJ
fbem-26181	30	54	the	the	DET
fbem-26181	30	55	mechanism	mechanism	NOUN
fbem-26181	30	56	of	of	ADP
fbem-26181	30	57	the	the	DET
fbem-26181	30	58	reasons	reason	NOUN
fbem-26181	30	59	,	,	PUNCT
fbem-26181	30	60	and	and	CCONJ
fbem-26181	30	61	less	less	ADJ
fbem-26181	30	62	on	on	ADP
fbem-26181	30	63	the	the	DET
fbem-26181	30	64	dynamic	dynamic	ADJ
fbem-26181	30	65	correlation	correlation	NOUN
fbem-26181	30	66	between	between	ADP
fbem-26181	30	67	the	the	DET
fbem-26181	30	68	two	two	NUM
fbem-26181	30	69	or	or	CCONJ
fbem-26181	30	70	more	more	ADJ
fbem-26181	30	71	variables	variable	NOUN
fbem-26181	30	72	,	,	PUNCT
fbem-26181	30	73	so	so	SCONJ
fbem-26181	30	74	the	the	DET
fbem-26181	30	75	use	use	NOUN
fbem-26181	30	76	of	of	ADP
fbem-26181	30	77	the	the	DET
fbem-26181	30	78	pvar	pvar	PROPN
fbem-26181	30	79	model	model	NOUN
fbem-26181	30	80	,	,	PUNCT
fbem-26181	30	81	which	which	PRON
fbem-26181	30	82	considers	consider	VERB
fbem-26181	30	83	all	all	DET
fbem-26181	30	84	variables	variable	NOUN
fbem-26181	30	85	as	as	ADP
fbem-26181	30	86	endogenous	endogenous	ADJ
fbem-26181	30	87	variables	variable	NOUN
fbem-26181	30	88	,	,	PUNCT
fbem-26181	30	89	to	to	PART
fbem-26181	30	90	study	study	VERB
fbem-26181	30	91	the	the	DET
fbem-26181	30	92	issue	issue	NOUN
fbem-26181	30	93	can	can	AUX
fbem-26181	30	94	,	,	PUNCT
fbem-26181	30	95	to	to	ADP
fbem-26181	30	96	some	some	DET
fbem-26181	30	97	extent	extent	NOUN
fbem-26181	30	98	,	,	PUNCT
fbem-26181	30	99	to	to	PART
fbem-26181	30	100	fill	fill	VERB
fbem-26181	30	101	the	the	DET
fbem-26181	30	102	gap	gap	NOUN
fbem-26181	30	103	in	in	ADP
fbem-26181	30	104	this	this	DET
fbem-26181	30	105	research	research	NOUN
fbem-26181	30	106	field	field	NOUN
fbem-26181	30	107	.	.	PUNCT
fbem-26181	31	1	in	in	ADP
fbem-26181	31	2	addition	addition	NOUN
fbem-26181	31	3	,	,	PUNCT
fbem-26181	31	4	different	different	ADJ
fbem-26181	31	5	criteria	criterion	NOUN
fbem-26181	31	6	for	for	ADP
fbem-26181	31	7	the	the	DET
fbem-26181	31	8	selection	selection	NOUN
fbem-26181	31	9	of	of	ADP
fbem-26181	31	10	variables	variable	NOUN
fbem-26181	31	11	characterizing	characterize	VERB
fbem-26181	31	12	the	the	DET
fbem-26181	31	13	different	different	ADJ
fbem-26181	31	14	measurement	measurement	NOUN
fbem-26181	31	15	of	of	ADP
fbem-26181	31	16	digital	digital	ADJ
fbem-26181	31	17	economy	economy	NOUN
fbem-26181	31	18	can	can	AUX
fbem-26181	31	19	also	also	ADV
fbem-26181	31	20	lead	lead	VERB
fbem-26181	31	21	to	to	ADP
fbem-26181	31	22	different	different	ADJ
fbem-26181	31	23	research	research	NOUN
fbem-26181	31	24	conclusions	conclusion	NOUN
fbem-26181	31	25	.	.	PUNCT
fbem-26181	32	1	for	for	ADP
fbem-26181	32	2	example	example	NOUN
fbem-26181	32	3	,	,	PUNCT
fbem-26181	32	4	studies	study	NOUN
fbem-26181	32	5	that	that	PRON
fbem-26181	32	6	select	select	VERB
fbem-26181	32	7	the	the	DET
fbem-26181	32	8	degree	degree	NOUN
fbem-26181	32	9	of	of	ADP
fbem-26181	32	10	digital	digital	ADJ
fbem-26181	32	11	economy	economy	NOUN
fbem-26181	32	12	measured	measure	VERB
fbem-26181	32	13	by	by	ADP
fbem-26181	32	14	the	the	DET
fbem-26181	32	15	constructed	construct	VERB
fbem-26181	32	16	regional	regional	ADJ
fbem-26181	32	17	digital	digital	ADJ
fbem-26181	32	18	economy	economy	NOUN
fbem-26181	32	19	development	development	NOUN
fbem-26181	32	20	evaluation	evaluation	NOUN
fbem-26181	32	21	index	index	NOUN
fbem-26181	32	22	system	system	NOUN
fbem-26181	32	23	for	for	ADP
fbem-26181	32	24	empirical	empirical	ADJ
fbem-26181	32	25	analysis	analysis	NOUN
fbem-26181	32	26	mostly	mostly	ADV
fbem-26181	32	27	conclude	conclude	VERB
fbem-26181	32	28	that	that	SCONJ
fbem-26181	32	29	there	there	PRON
fbem-26181	32	30	is	be	VERB
fbem-26181	32	31	a	a	DET
fbem-26181	32	32	positive	positive	ADJ
fbem-26181	32	33	correlation	correlation	NOUN
fbem-26181	32	34	between	between	ADP
fbem-26181	32	35	the	the	DET
fbem-26181	32	36	level	level	NOUN
fbem-26181	32	37	of	of	ADP
fbem-26181	32	38	digital	digital	ADJ
fbem-26181	32	39	economy	economy	NOUN
fbem-26181	32	40	and	and	CCONJ
fbem-26181	32	41	the	the	DET
fbem-26181	32	42	enterprise	enterprise	NOUN
fbem-26181	32	43	financialization	financialization	NOUN
fbem-26181	32	44	.	.	PUNCT
fbem-26181	33	1	the	the	DET
fbem-26181	33	2	study	study	NOUN
fbem-26181	33	3	that	that	PRON
fbem-26181	33	4	selects	select	VERB
fbem-26181	33	5	the	the	DET
fbem-26181	33	6	digital	digital	ADJ
fbem-26181	33	7	financial	financial	ADJ
fbem-26181	33	8	index	index	NOUN
fbem-26181	33	9	for	for	ADP
fbem-26181	33	10	almost	almost	ADV
fbem-26181	33	11	civil	civil	ADJ
fbem-26181	33	12	or	or	CCONJ
fbem-26181	33	13	the	the	DET
fbem-26181	33	14	level	level	NOUN
fbem-26181	33	15	of	of	ADP
fbem-26181	33	16	scientific	scientific	ADJ
fbem-26181	33	17	finance	finance	NOUN
fbem-26181	33	18	as	as	ADP
fbem-26181	33	19	the	the	DET
fbem-26181	33	20	variable	variable	NOUN
fbem-26181	33	21	of	of	ADP
fbem-26181	33	22	the	the	DET
fbem-26181	33	23	level	level	NOUN
fbem-26181	33	24	of	of	ADP
fbem-26181	33	25	digital	digital	ADJ
fbem-26181	33	26	economic	economic	ADJ
fbem-26181	33	27	development	development	NOUN
fbem-26181	33	28	concludes	conclude	VERB
fbem-26181	33	29	that	that	SCONJ
fbem-26181	33	30	there	there	PRON
fbem-26181	33	31	are	be	VERB
fbem-26181	33	32	both	both	ADV
fbem-26181	33	33	positive	positive	ADJ
fbem-26181	33	34	and	and	CCONJ
fbem-26181	33	35	negative	negative	ADJ
fbem-26181	33	36	effects	effect	NOUN
fbem-26181	33	37	,	,	PUNCT
fbem-26181	33	38	and	and	CCONJ
fbem-26181	33	39	the	the	DET
fbem-26181	33	40	reason	reason	NOUN
fbem-26181	33	41	for	for	ADP
fbem-26181	33	42	this	this	DET
fbem-26181	33	43	phenomenon	phenomenon	NOUN
fbem-26181	33	44	is	be	AUX
fbem-26181	33	45	still	still	ADV
fbem-26181	33	46	unclear	unclear	ADJ
fbem-26181	33	47	and	and	CCONJ
fbem-26181	33	48	needs	need	VERB
fbem-26181	33	49	to	to	PART
fbem-26181	33	50	be	be	AUX
fbem-26181	33	51	further	far	ADV
fbem-26181	33	52	researched	research	VERB
fbem-26181	33	53	accurately	accurately	ADV
fbem-26181	33	54	.	.	PUNCT
fbem-26181	34	1	at	at	ADP
fbem-26181	34	2	the	the	DET
fbem-26181	34	3	same	same	ADJ
fbem-26181	34	4	time	time	NOUN
fbem-26181	34	5	,	,	PUNCT
fbem-26181	34	6	in	in	ADP
fbem-26181	34	7	the	the	DET
fbem-26181	34	8	context	context	NOUN
fbem-26181	34	9	of	of	ADP
fbem-26181	34	10	china	china	PROPN
fbem-26181	34	11	's	's	PART
fbem-26181	34	12	real	real	ADJ
fbem-26181	34	13	economy	economy	NOUN
fbem-26181	34	14	facing	face	VERB
fbem-26181	34	15	the	the	DET
fbem-26181	34	16	"	"	PUNCT
fbem-26181	34	17	de	de	NOUN
fbem-26181	34	18	-	-	NOUN
fbem-26181	34	19	realization	realization	NOUN
fbem-26181	34	20	to	to	ADP
fbem-26181	34	21	virtualization	virtualization	NOUN
fbem-26181	34	22	"	"	PUNCT
fbem-26181	34	23	,	,	PUNCT
fbem-26181	34	24	it	it	PRON
fbem-26181	34	25	is	be	AUX
fbem-26181	34	26	of	of	ADP
fbem-26181	34	27	practical	practical	ADJ
fbem-26181	34	28	significance	significance	NOUN
fbem-26181	34	29	to	to	PART
fbem-26181	34	30	use	use	VERB
fbem-26181	34	31	appropriate	appropriate	ADJ
fbem-26181	34	32	forecasting	forecasting	NOUN
fbem-26181	34	33	methods	method	NOUN
fbem-26181	34	34	to	to	PART
fbem-26181	34	35	predict	predict	VERB
fbem-26181	34	36	and	and	CCONJ
fbem-26181	34	37	measure	measure	VERB
fbem-26181	34	38	the	the	DET
fbem-26181	34	39	degree	degree	NOUN
fbem-26181	34	40	of	of	ADP
fbem-26181	34	41	financialization	financialization	NOUN
fbem-26181	34	42	of	of	ADP
fbem-26181	34	43	enterprises	enterprise	NOUN
fbem-26181	34	44	,	,	PUNCT
fbem-26181	34	45	and	and	CCONJ
fbem-26181	34	46	thus	thus	ADV
fbem-26181	34	47	the	the	DET
fbem-26181	34	48	holt	holt	PROPN
fbem-26181	34	49	index	index	NOUN
fbem-26181	34	50	smoothing	smoothing	NOUN
fbem-26181	34	51	method	method	NOUN
fbem-26181	34	52	,	,	PUNCT
fbem-26181	34	53	is	be	AUX
fbem-26181	34	54	given	give	VERB
fbem-26181	34	55	surfeit	surfeit	NOUN
fbem-26181	34	56	of	of	ADP
fbem-26181	34	57	hope	hope	NOUN
fbem-26181	34	58	that	that	SCONJ
fbem-26181	34	59	it	it	PRON
fbem-26181	34	60	can	can	AUX
fbem-26181	34	61	be	be	AUX
fbem-26181	34	62	useful	useful	ADJ
fbem-26181	34	63	for	for	ADP
fbem-26181	34	64	the	the	DET
fbem-26181	34	65	policy	policy	NOUN
fbem-26181	34	66	formulation	formulation	NOUN
fbem-26181	34	67	of	of	ADP
fbem-26181	34	68	the	the	DET
fbem-26181	34	69	financial	financial	ADJ
fbem-26181	34	70	regulatory	regulatory	ADJ
fbem-26181	34	71	agencies	agency	NOUN
fbem-26181	34	72	and	and	CCONJ
fbem-26181	34	73	the	the	DET
fbem-26181	34	74	capitalization	capitalization	NOUN
fbem-26181	34	75	of	of	ADP
fbem-26181	34	76	non	non	ADJ
fbem-26181	34	77	-	-	ADJ
fbem-26181	34	78	financial	financial	ADJ
fbem-26181	34	79	enterprises	enterprise	NOUN
fbem-26181	34	80	.	.	PUNCT
fbem-26181	35	1	policy	policy	NOUN
fbem-26181	35	2	making	making	NOUN
fbem-26181	35	3	and	and	CCONJ
fbem-26181	35	4	capital	capital	NOUN
fbem-26181	35	5	allocation	allocation	NOUN
fbem-26181	35	6	of	of	ADP
fbem-26181	35	7	non	non	ADJ
fbem-26181	35	8	-	-	ADJ
fbem-26181	35	9	financial	financial	ADJ
fbem-26181	35	10	enterprises	enterprise	NOUN
fbem-26181	35	11	.	.	PUNCT
fbem-26181	36	1	3	3	X
fbem-26181	36	2	.	.	X
fbem-26181	36	3	research	research	NOUN
fbem-26181	36	4	methodology	methodology	NOUN
fbem-26181	36	5	the	the	DET
fbem-26181	36	6	pvar	pvar	NOUN
fbem-26181	36	7	model	model	NOUN
fbem-26181	36	8	is	be	AUX
fbem-26181	36	9	a	a	DET
fbem-26181	36	10	mathematical	mathematical	ADJ
fbem-26181	36	11	combination	combination	NOUN
fbem-26181	36	12	of	of	ADP
fbem-26181	36	13	a	a	DET
fbem-26181	36	14	traditional	traditional	ADJ
fbem-26181	36	15	panel	panel	NOUN
fbem-26181	36	16	data	datum	NOUN
fbem-26181	36	17	model	model	NOUN
fbem-26181	36	18	and	and	CCONJ
fbem-26181	36	19	a	a	DET
fbem-26181	36	20	traditional	traditional	ADJ
fbem-26181	36	21	var	var	NOUN
fbem-26181	36	22	model	model	NOUN
fbem-26181	36	23	in	in	ADP
fbem-26181	36	24	which	which	PRON
fbem-26181	36	25	all	all	DET
fbem-26181	36	26	variables	variable	NOUN
fbem-26181	36	27	are	be	AUX
fbem-26181	36	28	considered	consider	VERB
fbem-26181	36	29	endogenous	endogenous	ADJ
fbem-26181	36	30	,	,	PUNCT
fbem-26181	36	31	which	which	PRON
fbem-26181	36	32	is	be	AUX
fbem-26181	36	33	a	a	DET
fbem-26181	36	34	unique	unique	ADJ
fbem-26181	36	35	advantage	advantage	NOUN
fbem-26181	36	36	for	for	ADP
fbem-26181	36	37	examining	examine	VERB
fbem-26181	36	38	bidirectional	bidirectional	ADJ
fbem-26181	36	39	causation	causation	NOUN
fbem-26181	36	40	problems	problem	NOUN
fbem-26181	36	41	.	.	PUNCT
fbem-26181	37	1	the	the	DET
fbem-26181	37	2	formality	formality	NOUN
fbem-26181	37	3	of	of	ADP
fbem-26181	37	4	the	the	DET
fbem-26181	37	5	model	model	NOUN
fbem-26181	37	6	is	be	AUX
fbem-26181	37	7	set	set	VERB
fbem-26181	37	8	up	up	ADP
fbem-26181	37	9	as	as	SCONJ
fbem-26181	37	10	follows	follow	VERB
fbem-26181	37	11	:	:	PUNCT
fbem-26181	37	12	𝑌𝑖𝑡	𝑌𝑖𝑡	NOUN
fbem-26181	37	13	=	=	SYM
fbem-26181	37	14	𝛽0	𝛽0	ADJ
fbem-26181	37	15	+	+	CCONJ
fbem-26181	37	16	𝛽1𝑌𝑖,𝑡−1	𝛽1𝑌𝑖,𝑡−1	PUNCT
fbem-26181	37	17	+	+	NUM
fbem-26181	37	18	⋯	⋯	PROPN
fbem-26181	37	19	+	+	NUM
fbem-26181	37	20	𝛽𝑝𝑌𝑖,𝑡−𝑝	𝛽𝑝𝑌𝑖,𝑡−𝑝	ADJ
fbem-26181	37	21	+	+	CCONJ
fbem-26181	37	22	𝑓𝑖	𝑓𝑖	PROPN
fbem-26181	37	23	+	+	CCONJ
fbem-26181	37	24	𝜀𝑖	𝜀𝑖	NOUN
fbem-26181	37	25	+	+	NOUN
fbem-26181	37	26	𝑢𝑖	𝑢𝑖	INTJ
fbem-26181	37	27	where	where	SCONJ
fbem-26181	37	28	𝑌𝑖𝑡	𝑌𝑖𝑡	NOUN
fbem-26181	37	29	is	be	AUX
fbem-26181	37	30	a	a	DET
fbem-26181	37	31	multidimensional	multidimensional	ADJ
fbem-26181	37	32	column	column	NOUN
fbem-26181	37	33	vector	vector	NOUN
fbem-26181	37	34	containing	contain	VERB
fbem-26181	37	35	multivariate	multivariate	NOUN
fbem-26181	37	36	time	time	NOUN
fbem-26181	37	37	-	-	PUNCT
fbem-26181	37	38	series	series	NOUN
fbem-26181	37	39	data	datum	NOUN
fbem-26181	37	40	,	,	PUNCT
fbem-26181	37	41	𝑖	𝑖	X
fbem-26181	37	42	is	be	AUX
fbem-26181	37	43	the	the	DET
fbem-26181	37	44	cross	cross	ADJ
fbem-26181	37	45	-	-	ADJ
fbem-26181	37	46	section	section	ADJ
fbem-26181	37	47	individual	individual	NOUN
fbem-26181	37	48	,	,	PUNCT
fbem-26181	37	49	and	and	CCONJ
fbem-26181	37	50	𝑡	𝑡	PROPN
fbem-26181	37	51	is	be	AUX
fbem-26181	37	52	time	time	NOUN
fbem-26181	37	53	.	.	PUNCT
fbem-26181	38	1	the	the	DET
fbem-26181	38	2	one	one	NUM
fbem-26181	38	3	-	-	PUNCT
fbem-26181	38	4	dimensional	dimensional	ADJ
fbem-26181	38	5	column	column	NOUN
fbem-26181	38	6	vector	vector	NOUN
fbem-26181	38	7	{	{	PUNCT
fbem-26181	38	8	𝑍𝑖𝑡	𝑍𝑖𝑡	PROPN
fbem-26181	38	9	}	}	PUNCT
fbem-26181	38	10	𝑖=1	𝑖=1	PROPN
fbem-26181	38	11	𝑇	𝑇	PROPN
fbem-26181	38	12	is	be	AUX
fbem-26181	38	13	usually	usually	ADV
fbem-26181	38	14	considered	consider	VERB
fbem-26181	38	15	as	as	ADP
fbem-26181	38	16	the	the	DET
fbem-26181	38	17	time	time	NOUN
fbem-26181	38	18	series	series	NOUN
fbem-26181	38	19	of	of	ADP
fbem-26181	38	20	the	the	DET
fbem-26181	38	21	longitudinal	longitudinal	ADJ
fbem-26181	38	22	profile	profile	NOUN
fbem-26181	38	23	of	of	ADP
fbem-26181	38	24	cross	cross	ADJ
fbem-26181	38	25	-	-	ADJ
fbem-26181	38	26	section	section	ADJ
fbem-26181	38	27	individual	individual	NOUN
fbem-26181	38	28	𝑖	𝑖	X
fbem-26181	38	29	.	.	PUNCT
fbem-26181	39	1	also	also	ADV
fbem-26181	39	2	,	,	PUNCT
fbem-26181	39	3	{	{	PUNCT
fbem-26181	39	4	𝑍𝑖𝑡	𝑍𝑖𝑡	PROPN
fbem-26181	39	5	}	}	PUNCT
fbem-26181	39	6	𝑖=1	𝑖=1	PUNCT
fbem-26181	40	1	𝑁	𝑁	PROPN
fbem-26181	40	2	is	be	AUX
fbem-26181	40	3	referred	refer	VERB
fbem-26181	40	4	to	to	ADP
fbem-26181	40	5	as	as	ADP
fbem-26181	40	6	the	the	DET
fbem-26181	40	7	cross	cross	ADJ
fbem-26181	40	8	-	-	ADJ
fbem-26181	40	9	section	section	ADJ
fbem-26181	40	10	data	datum	NOUN
fbem-26181	40	11	of	of	ADP
fbem-26181	40	12	the	the	DET
fbem-26181	40	13	province	province	NOUN
fbem-26181	40	14	𝑁	𝑁	PROPN
fbem-26181	40	15	in	in	ADP
fbem-26181	40	16	the	the	DET
fbem-26181	40	17	𝑡	𝑡	X
fbem-26181	40	18	th	th	NOUN
fbem-26181	40	19	year	year	NOUN
fbem-26181	40	20	.	.	PUNCT
fbem-26181	41	1	𝑍𝑖,𝑡−𝑝	𝑍𝑖,𝑡−𝑝	PROPN
fbem-26181	41	2	is	be	AUX
fbem-26181	41	3	a	a	DET
fbem-26181	41	4	pth	pth	NOUN
fbem-26181	41	5	-	-	PUNCT
fbem-26181	41	6	order	order	NOUN
fbem-26181	41	7	lag	lag	NOUN
fbem-26181	41	8	in	in	ADP
fbem-26181	41	9	the	the	DET
fbem-26181	41	10	𝑍𝑖,𝑡	𝑍𝑖,𝑡	PROPN
fbem-26181	41	11	term	term	NOUN
fbem-26181	41	12	.	.	PUNCT
fbem-26181	42	1	𝑓𝑖	𝑓𝑖	PROPN
fbem-26181	42	2	is	be	AUX
fbem-26181	42	3	a	a	DET
fbem-26181	42	4	fixed	fixed	ADJ
fbem-26181	42	5	effect	effect	NOUN
fbem-26181	42	6	indicating	indicate	VERB
fbem-26181	42	7	the	the	DET
fbem-26181	42	8	variability	variability	NOUN
fbem-26181	42	9	of	of	ADP
fbem-26181	42	10	individuals	individual	NOUN
fbem-26181	42	11	in	in	ADP
fbem-26181	42	12	the	the	DET
fbem-26181	42	13	cross	cross	NOUN
fbem-26181	42	14	-	-	NOUN
fbem-26181	42	15	section	section	NOUN
fbem-26181	42	16	.	.	PUNCT
fbem-26181	43	1	𝜀𝑖	𝜀𝑖	NOUN
fbem-26181	43	2	is	be	AUX
fbem-26181	43	3	a	a	DET
fbem-26181	43	4	column	column	NOUN
fbem-26181	43	5	vector	vector	NOUN
fbem-26181	43	6	indicating	indicate	VERB
fbem-26181	43	7	the	the	DET
fbem-26181	43	8	time	time	NOUN
fbem-26181	43	9	effect	effect	NOUN
fbem-26181	43	10	of	of	ADP
fbem-26181	43	11	individuals	individual	NOUN
fbem-26181	43	12	in	in	ADP
fbem-26181	43	13	the	the	DET
fbem-26181	43	14	cross	cross	NOUN
fbem-26181	43	15	-	-	NOUN
fbem-26181	43	16	section	section	NOUN
fbem-26181	43	17	.	.	PUNCT
fbem-26181	44	1	𝑢𝑖	𝑢𝑖	NOUN
fbem-26181	44	2	is	be	AUX
fbem-26181	44	3	the	the	DET
fbem-26181	44	4	random	random	ADJ
fbem-26181	44	5	error	error	NOUN
fbem-26181	44	6	term	term	NOUN
fbem-26181	44	7	.	.	PUNCT
fbem-26181	45	1	table	table	NOUN
fbem-26181	45	2	1	1	NUM
fbem-26181	45	3	demonstrates	demonstrate	VERB
fbem-26181	45	4	the	the	DET
fbem-26181	45	5	descriptive	descriptive	ADJ
fbem-26181	45	6	statistics	statistic	NOUN
fbem-26181	45	7	of	of	ADP
fbem-26181	45	8	the	the	DET
fbem-26181	45	9	core	core	NOUN
fbem-26181	45	10	variables	variable	NOUN
fbem-26181	45	11	.	.	PUNCT
fbem-26181	46	1	table	table	NOUN
fbem-26181	46	2	1	1	NUM
fbem-26181	46	3	.	.	PUNCT
fbem-26181	46	4	descriptive	descriptive	ADJ
fbem-26181	46	5	statistics	statistic	NOUN
fbem-26181	46	6	for	for	ADP
fbem-26181	46	7	variables	variable	NOUN
fbem-26181	46	8	variables	variable	NOUN
fbem-26181	46	9	n	n	ADV
fbem-26181	46	10	mean	mean	VERB
fbem-26181	46	11	std	std	NOUN
fbem-26181	46	12	min	min	PROPN
fbem-26181	46	13	max	max	PROPN
fbem-26181	46	14	dig	dig	VERB
fbem-26181	46	15	979	979	NUM
fbem-26181	46	16	0.123	0.123	NUM
fbem-26181	46	17	4698	4698	NUM
fbem-26181	46	18	0.072	0.072	NUM
fbem-26181	46	19	1113	1113	NUM
fbem-26181	46	20	0.015	0.015	NUM
fbem-26181	46	21	8271	8271	NUM
fbem-26181	46	22	0.5610	0.5610	NUM
fbem-26181	46	23	589	589	NUM
fbem-26181	46	24	dif	dif	ADV
fbem-26181	46	25	979	979	NUM
fbem-26181	46	26	201.5	201.5	NUM
fbem-26181	46	27	486	486	NUM
fbem-26181	46	28	74.46	74.46	NUM
fbem-26181	46	29	9	9	NUM
fbem-26181	46	30	27.08	27.08	NUM
fbem-26181	46	31	359.68	359.68	NUM
fbem-26181	46	32	finratio	finratio	NOUN
fbem-26181	46	33	979	979	NUM
fbem-26181	46	34	0.151	0.151	NUM
fbem-26181	46	35	3694	3694	NUM
fbem-26181	46	36	0.466	0.466	NUM
fbem-26181	46	37	7543	7543	NUM
fbem-26181	46	38	0	0	NUM
fbem-26181	47	1	4.4902	4.4902	NUM
fbem-26181	47	2	11	11	NUM
fbem-26181	47	3	in	in	ADP
fbem-26181	47	4	my	my	PRON
fbem-26181	47	5	study	study	NOUN
fbem-26181	47	6	,	,	PUNCT
fbem-26181	47	7	𝑌𝑖𝑡	𝑌𝑖𝑡	PROPN
fbem-26181	47	8	is	be	AUX
fbem-26181	47	9	a	a	DET
fbem-26181	47	10	vector	vector	NOUN
fbem-26181	47	11	of	of	ADP
fbem-26181	47	12	three	three	NUM
fbem-26181	47	13	endogenous	endogenous	ADJ
fbem-26181	47	14	variables	variable	NOUN
fbem-26181	47	15	:	:	PUNCT
fbem-26181	47	16	dig	dig	VERB
fbem-26181	47	17	denotes	denote	VERB
fbem-26181	47	18	the	the	DET
fbem-26181	47	19	level	level	NOUN
fbem-26181	47	20	of	of	ADP
fbem-26181	47	21	regional	regional	ADJ
fbem-26181	47	22	digital	digital	ADJ
fbem-26181	47	23	economy	economy	NOUN
fbem-26181	47	24	,	,	PUNCT
fbem-26181	47	25	drawing	draw	VERB
fbem-26181	47	26	on	on	ADP
fbem-26181	47	27	zhao	zhao	PROPN
fbem-26181	47	28	tao	tao	PROPN
fbem-26181	47	29	et	et	PROPN
fbem-26181	47	30	al	al	PROPN
fbem-26181	47	31	.	.	PROPN
fbem-26181	47	32	's	's	PART
fbem-26181	47	33	(	(	PUNCT
fbem-26181	47	34	2020	2020	NUM
fbem-26181	47	35	)	)	PUNCT
fbem-26181	47	36	study	study	NOUN
fbem-26181	47	37	,	,	PUNCT
fbem-26181	47	38	which	which	PRON
fbem-26181	47	39	uses	use	VERB
fbem-26181	47	40	principal	principal	ADJ
fbem-26181	47	41	component	component	NOUN
fbem-26181	47	42	analysis	analysis	NOUN
fbem-26181	47	43	to	to	PART
fbem-26181	47	44	construct	construct	VERB
fbem-26181	47	45	a	a	DET
fbem-26181	47	46	comprehensive	comprehensive	ADJ
fbem-26181	47	47	development	development	NOUN
fbem-26181	47	48	evaluation	evaluation	NOUN
fbem-26181	47	49	index	index	NOUN
fbem-26181	47	50	system	system	NOUN
fbem-26181	47	51	for	for	ADP
fbem-26181	47	52	the	the	DET
fbem-26181	47	53	digital	digital	ADJ
fbem-26181	47	54	economy	economy	NOUN
fbem-26181	47	55	,	,	PUNCT
fbem-26181	47	56	and	and	CCONJ
fbem-26181	47	57	used	use	VERB
fbem-26181	47	58	the	the	DET
fbem-26181	47	59	evaluation	evaluation	NOUN
fbem-26181	47	60	system	system	NOUN
fbem-26181	47	61	they	they	PRON
fbem-26181	47	62	set	set	VERB
fbem-26181	47	63	up	up	ADP
fbem-26181	47	64	measures	measure	NOUN
fbem-26181	47	65	the	the	DET
fbem-26181	47	66	regional	regional	ADJ
fbem-26181	47	67	digital	digital	ADJ
fbem-26181	47	68	economy	economy	NOUN
fbem-26181	47	69	development	development	NOUN
fbem-26181	47	70	index	index	NOUN
fbem-26181	47	71	;	;	PUNCT
fbem-26181	47	72	dif	dif	PROPN
fbem-26181	47	73	denotes	denote	VERB
fbem-26181	47	74	the	the	DET
fbem-26181	47	75	regional	regional	ADJ
fbem-26181	47	76	digital	digital	ADJ
fbem-26181	47	77	financial	financial	ADJ
fbem-26181	47	78	inclusion	inclusion	NOUN
fbem-26181	47	79	index	index	NOUN
fbem-26181	47	80	,	,	PUNCT
fbem-26181	47	81	drawing	draw	VERB
fbem-26181	47	82	on	on	ADP
fbem-26181	47	83	guo	guo	PROPN
fbem-26181	47	84	feng	feng	PROPN
fbem-26181	47	85	et	et	PROPN
fbem-26181	47	86	al	al	PROPN
fbem-26181	47	87	.	.	PROPN
fbem-26181	47	88	's	's	PART
fbem-26181	47	89	(	(	PUNCT
fbem-26181	47	90	2020	2020	NUM
fbem-26181	47	91	)	)	PUNCT
fbem-26181	47	92	construction	construction	NOUN
fbem-26181	47	93	of	of	ADP
fbem-26181	47	94	the	the	DET
fbem-26181	47	95	digital	digital	ADJ
fbem-26181	47	96	financial	financial	ADJ
fbem-26181	47	97	index	index	NOUN
fbem-26181	47	98	system	system	NOUN
fbem-26181	47	99	by	by	ADP
fbem-26181	47	100	digital	digital	PROPN
fbem-26181	47	101	finance	finance	PROPN
fbem-26181	47	102	institute	institute	NOUN
fbem-26181	47	103	from	from	ADP
fbem-26181	47	104	peking	peking	PROPN
fbem-26181	47	105	university	university	NOUN
fbem-26181	47	106	,	,	PUNCT
fbem-26181	47	107	and	and	CCONJ
fbem-26181	47	108	calculated	calculate	VERB
fbem-26181	47	109	the	the	DET
fbem-26181	47	110	digital	digital	ADJ
fbem-26181	47	111	inclusive	inclusive	ADJ
fbem-26181	47	112	finance	finance	NOUN
fbem-26181	47	113	index	index	NOUN
fbem-26181	47	114	of	of	ADP
fbem-26181	47	115	each	each	DET
fbem-26181	47	116	region	region	NOUN
fbem-26181	47	117	with	with	ADP
fbem-26181	47	118	the	the	DET
fbem-26181	47	119	evaluation	evaluation	NOUN
fbem-26181	47	120	system	system	NOUN
fbem-26181	47	121	above	above	ADV
fbem-26181	47	122	;	;	PUNCT
fbem-26181	47	123	finratio	finratio	NOUN
fbem-26181	47	124	denotes	denote	VERB
fbem-26181	47	125	the	the	DET
fbem-26181	47	126	degree	degree	NOUN
fbem-26181	47	127	of	of	ADP
fbem-26181	47	128	comprehensive	comprehensive	ADJ
fbem-26181	47	129	regional	regional	ADJ
fbem-26181	47	130	financialization	financialization	NOUN
fbem-26181	47	131	,	,	PUNCT
fbem-26181	47	132	drawing	draw	VERB
fbem-26181	47	133	on	on	ADP
fbem-26181	47	134	du	du	PROPN
fbem-26181	47	135	yong	yong	PROPN
fbem-26181	47	136	et	et	PROPN
fbem-26181	47	137	al	al	PROPN
fbem-26181	47	138	.	.	PROPN
fbem-26181	48	1	(	(	PUNCT
fbem-26181	48	2	2018	2018	NUM
fbem-26181	48	3	)	)	PUNCT
fbem-26181	48	4	,	,	PUNCT
fbem-26181	48	5	the	the	DET
fbem-26181	48	6	financialization	financialization	NOUN
fbem-26181	48	7	of	of	ADP
fbem-26181	48	8	enterprises	enterprise	NOUN
fbem-26181	48	9	is	be	AUX
fbem-26181	48	10	measured	measure	VERB
fbem-26181	48	11	using	use	VERB
fbem-26181	48	12	the	the	DET
fbem-26181	48	13	proportion	proportion	NOUN
fbem-26181	48	14	of	of	ADP
fbem-26181	48	15	the	the	DET
fbem-26181	48	16	relevant	relevant	ADJ
fbem-26181	48	17	130	130	NUM
fbem-26181	48	18	financial	financial	ADJ
fbem-26181	48	19	assets	asset	NOUN
fbem-26181	48	20	of	of	ADP
fbem-26181	48	21	non	non	ADJ
fbem-26181	48	22	-	-	ADJ
fbem-26181	48	23	financial	financial	ADJ
fbem-26181	48	24	entity	entity	NOUN
fbem-26181	48	25	enterprises	enterprise	NOUN
fbem-26181	48	26	(	(	PUNCT
fbem-26181	48	27	money	money	NOUN
fbem-26181	48	28	funds	fund	NOUN
fbem-26181	48	29	are	be	AUX
fbem-26181	48	30	excluded	exclude	VERB
fbem-26181	48	31	,	,	PUNCT
fbem-26181	48	32	and	and	CCONJ
fbem-26181	48	33	investment	investment	NOUN
fbem-26181	48	34	real	real	ADJ
fbem-26181	48	35	estate	estate	NOUN
fbem-26181	48	36	is	be	AUX
fbem-26181	48	37	added	add	VERB
fbem-26181	48	38	)	)	PUNCT
fbem-26181	48	39	to	to	ADP
fbem-26181	48	40	the	the	DET
fbem-26181	48	41	total	total	ADJ
fbem-26181	48	42	assets	asset	NOUN
fbem-26181	48	43	,	,	PUNCT
fbem-26181	48	44	and	and	CCONJ
fbem-26181	48	45	then	then	ADV
fbem-26181	48	46	the	the	DET
fbem-26181	48	47	proportion	proportion	NOUN
fbem-26181	48	48	of	of	ADP
fbem-26181	48	49	the	the	DET
fbem-26181	48	50	total	total	ADJ
fbem-26181	48	51	assets	asset	NOUN
fbem-26181	48	52	of	of	ADP
fbem-26181	48	53	each	each	DET
fbem-26181	48	54	enterprise	enterprise	NOUN
fbem-26181	48	55	to	to	ADP
fbem-26181	48	56	the	the	DET
fbem-26181	48	57	total	total	ADJ
fbem-26181	48	58	assets	asset	NOUN
fbem-26181	48	59	of	of	ADP
fbem-26181	48	60	the	the	DET
fbem-26181	48	61	enterprises	enterprise	NOUN
fbem-26181	48	62	in	in	ADP
fbem-26181	48	63	the	the	DET
fbem-26181	48	64	region	region	NOUN
fbem-26181	48	65	is	be	AUX
fbem-26181	48	66	used	use	VERB
fbem-26181	48	67	as	as	ADP
fbem-26181	48	68	the	the	DET
fbem-26181	48	69	weight	weight	NOUN
fbem-26181	48	70	to	to	PART
fbem-26181	48	71	calculate	calculate	VERB
fbem-26181	48	72	the	the	DET
fbem-26181	48	73	weighted	weighted	ADJ
fbem-26181	48	74	average	average	NOUN
fbem-26181	48	75	,	,	PUNCT
fbem-26181	48	76	and	and	CCONJ
fbem-26181	48	77	finally	finally	ADV
fbem-26181	48	78	get	get	VERB
fbem-26181	48	79	the	the	DET
fbem-26181	48	80	comprehensive	comprehensive	ADJ
fbem-26181	48	81	financialization	financialization	NOUN
fbem-26181	48	82	degree	degree	NOUN
fbem-26181	48	83	of	of	ADP
fbem-26181	48	84	the	the	DET
fbem-26181	48	85	region	region	NOUN
fbem-26181	48	86	.	.	PUNCT
fbem-26181	49	1	since	since	SCONJ
fbem-26181	49	2	the	the	DET
fbem-26181	49	3	number	number	NOUN
fbem-26181	49	4	of	of	ADP
fbem-26181	49	5	individuals	individual	NOUN
fbem-26181	49	6	is	be	AUX
fbem-26181	49	7	much	much	ADV
fbem-26181	49	8	larger	large	ADJ
fbem-26181	49	9	than	than	ADP
fbem-26181	49	10	the	the	DET
fbem-26181	49	11	number	number	NOUN
fbem-26181	49	12	of	of	ADP
fbem-26181	49	13	year	year	NOUN
fbem-26181	49	14	series	series	NOUN
fbem-26181	49	15	,	,	PUNCT
fbem-26181	49	16	there	there	PRON
fbem-26181	49	17	is	be	VERB
fbem-26181	49	18	no	no	DET
fbem-26181	49	19	need	need	NOUN
fbem-26181	49	20	to	to	PART
fbem-26181	49	21	carry	carry	VERB
fbem-26181	49	22	out	out	ADP
fbem-26181	49	23	the	the	DET
fbem-26181	49	24	unit	unit	NOUN
fbem-26181	49	25	root	root	NOUN
fbem-26181	49	26	test	test	NOUN
fbem-26181	49	27	in	in	ADP
fbem-26181	49	28	the	the	DET
fbem-26181	49	29	process	process	NOUN
fbem-26181	49	30	of	of	ADP
fbem-26181	49	31	building	build	VERB
fbem-26181	49	32	the	the	DET
fbem-26181	49	33	pvar	pvar	NOUN
fbem-26181	49	34	model	model	NOUN
fbem-26181	49	35	,	,	PUNCT
fbem-26181	49	36	and	and	CCONJ
fbem-26181	49	37	the	the	DET
fbem-26181	49	38	robustness	robustness	NOUN
fbem-26181	49	39	test	test	NOUN
fbem-26181	49	40	shows	show	VERB
fbem-26181	49	41	that	that	SCONJ
fbem-26181	49	42	the	the	DET
fbem-26181	49	43	pvar	pvar	NOUN
fbem-26181	49	44	model	model	NOUN
fbem-26181	49	45	is	be	AUX
fbem-26181	49	46	robust	robust	ADJ
fbem-26181	49	47	,	,	PUNCT
fbem-26181	49	48	and	and	CCONJ
fbem-26181	49	49	the	the	DET
fbem-26181	49	50	helmert	helmert	PROPN
fbem-26181	49	51	program	program	NOUN
fbem-26181	49	52	is	be	AUX
fbem-26181	49	53	used	use	VERB
fbem-26181	49	54	to	to	PART
fbem-26181	49	55	remove	remove	VERB
fbem-26181	49	56	the	the	DET
fbem-26181	49	57	fixed	fix	VERB
fbem-26181	49	58	effects	effect	NOUN
fbem-26181	49	59	in	in	ADP
fbem-26181	49	60	the	the	DET
fbem-26181	49	61	model	model	NOUN
fbem-26181	49	62	we	we	PRON
fbem-26181	49	63	will	will	AUX
fbem-26181	49	64	use	use	VERB
fbem-26181	49	65	for	for	ADP
fbem-26181	49	66	later	later	ADJ
fbem-26181	49	67	analysis	analysis	NOUN
fbem-26181	49	68	.	.	PUNCT
fbem-26181	50	1	before	before	ADP
fbem-26181	50	2	the	the	DET
fbem-26181	50	3	next	next	ADJ
fbem-26181	50	4	series	series	NOUN
fbem-26181	50	5	of	of	ADP
fbem-26181	50	6	analyzing	analyze	VERB
fbem-26181	50	7	methods	method	NOUN
fbem-26181	50	8	,	,	PUNCT
fbem-26181	50	9	we	we	PRON
fbem-26181	50	10	have	have	VERB
fbem-26181	50	11	to	to	PART
fbem-26181	50	12	suppose	suppose	VERB
fbem-26181	50	13	that	that	SCONJ
fbem-26181	50	14	there	there	PRON
fbem-26181	50	15	is	be	VERB
fbem-26181	50	16	a	a	DET
fbem-26181	50	17	rudimentary	rudimentary	ADJ
fbem-26181	50	18	order	order	NOUN
fbem-26181	50	19	of	of	ADP
fbem-26181	50	20	the	the	DET
fbem-26181	50	21	main	main	ADJ
fbem-26181	50	22	variables	variable	NOUN
fbem-26181	50	23	.	.	PUNCT
fbem-26181	51	1	in	in	ADP
fbem-26181	51	2	another	another	DET
fbem-26181	51	3	words	word	NOUN
fbem-26181	51	4	,	,	PUNCT
fbem-26181	51	5	we	we	PRON
fbem-26181	51	6	suppose	suppose	VERB
fbem-26181	51	7	a	a	DET
fbem-26181	51	8	typical	typical	ADJ
fbem-26181	51	9	influence	influence	NOUN
fbem-26181	51	10	institution	institution	NOUN
fbem-26181	51	11	:	:	PUNCT
fbem-26181	51	12	dig	dig	VERB
fbem-26181	51	13	→	→	SYM
fbem-26181	51	14	dif	dif	X
fbem-26181	51	15	→	→	SYM
fbem-26181	51	16	finratio	finratio	NOUN
fbem-26181	51	17	.	.	PUNCT
fbem-26181	52	1	first	first	ADV
fbem-26181	52	2	,	,	PUNCT
fbem-26181	52	3	the	the	DET
fbem-26181	52	4	optimal	optimal	ADJ
fbem-26181	52	5	lag	lag	NOUN
fbem-26181	52	6	order	order	NOUN
fbem-26181	52	7	was	be	AUX
fbem-26181	52	8	determined	determine	VERB
fbem-26181	52	9	to	to	PART
fbem-26181	52	10	be	be	AUX
fbem-26181	52	11	first	first	ADJ
fbem-26181	52	12	order	order	NOUN
fbem-26181	52	13	according	accord	VERB
fbem-26181	52	14	to	to	ADP
fbem-26181	52	15	three	three	NUM
fbem-26181	52	16	kinds	kind	NOUN
fbem-26181	52	17	of	of	ADP
fbem-26181	52	18	rules	rule	NOUN
fbem-26181	52	19	:	:	PUNCT
fbem-26181	52	20	aic	aic	PROPN
fbem-26181	52	21	,	,	PUNCT
fbem-26181	52	22	bic	bic	PROPN
fbem-26181	52	23	and	and	CCONJ
fbem-26181	52	24	hqic	hqic	ADJ
fbem-26181	52	25	criteria	criterion	NOUN
fbem-26181	52	26	,	,	PUNCT
fbem-26181	52	27	and	and	CCONJ
fbem-26181	52	28	granger	granger	PROPN
fbem-26181	52	29	causality	causality	NOUN
fbem-26181	52	30	tests	test	NOUN
fbem-26181	52	31	were	be	AUX
fbem-26181	52	32	performed	perform	VERB
fbem-26181	52	33	for	for	ADP
fbem-26181	52	34	each	each	DET
fbem-26181	52	35	equation	equation	NOUN
fbem-26181	52	36	that	that	PRON
fbem-26181	52	37	pvar	pvar	PROPN
fbem-26181	52	38	model	model	NOUN
fbem-26181	52	39	included	include	VERB
fbem-26181	52	40	.	.	PUNCT
fbem-26181	53	1	then	then	ADV
fbem-26181	53	2	,	,	PUNCT
fbem-26181	53	3	we	we	PRON
fbem-26181	53	4	use	use	VERB
fbem-26181	53	5	the	the	DET
fbem-26181	53	6	gmm	gmm	PROPN
fbem-26181	53	7	method	method	NOUN
fbem-26181	53	8	to	to	PART
fbem-26181	53	9	evaluate	evaluate	VERB
fbem-26181	53	10	the	the	DET
fbem-26181	53	11	coefficients	coefficient	NOUN
fbem-26181	53	12	of	of	ADP
fbem-26181	53	13	every	every	DET
fbem-26181	53	14	variable	variable	NOUN
fbem-26181	53	15	and	and	CCONJ
fbem-26181	53	16	attached	attach	VERB
fbem-26181	53	17	p	p	NOUN
fbem-26181	53	18	value	value	NOUN
fbem-26181	53	19	.	.	PUNCT
fbem-26181	54	1	finally	finally	ADV
fbem-26181	54	2	,	,	PUNCT
fbem-26181	54	3	impulse	impulse	ADJ
fbem-26181	54	4	response	response	NOUN
fbem-26181	54	5	functions	function	NOUN
fbem-26181	54	6	and	and	CCONJ
fbem-26181	54	7	variance	variance	NOUN
fbem-26181	54	8	decomposition	decomposition	NOUN
fbem-26181	54	9	methods	method	NOUN
fbem-26181	54	10	are	be	AUX
fbem-26181	54	11	used	use	VERB
fbem-26181	54	12	to	to	PART
fbem-26181	54	13	further	far	ADV
fbem-26181	54	14	analyze	analyze	VERB
fbem-26181	54	15	the	the	DET
fbem-26181	54	16	current	current	ADJ
fbem-26181	54	17	and	and	CCONJ
fbem-26181	54	18	expected	expect	VERB
fbem-26181	54	19	relationships	relationship	NOUN
fbem-26181	54	20	between	between	ADP
fbem-26181	54	21	variables	variable	NOUN
fbem-26181	54	22	.	.	PUNCT
fbem-26181	55	1	4	4	X
fbem-26181	55	2	.	.	NOUN
fbem-26181	55	3	results	result	NOUN
fbem-26181	55	4	and	and	CCONJ
fbem-26181	55	5	discussion	discussion	NOUN
fbem-26181	55	6	4.1	4.1	NUM
fbem-26181	55	7	.	.	PUNCT
fbem-26181	56	1	granger	granger	PROPN
fbem-26181	56	2	causality	causality	PROPN
fbem-26181	56	3	first	first	ADV
fbem-26181	56	4	,	,	PUNCT
fbem-26181	56	5	i	i	PRON
fbem-26181	56	6	give	give	VERB
fbem-26181	56	7	the	the	DET
fbem-26181	56	8	results	result	NOUN
fbem-26181	56	9	of	of	ADP
fbem-26181	56	10	the	the	DET
fbem-26181	56	11	granger	granger	PROPN
fbem-26181	56	12	causality	causality	PROPN
fbem-26181	56	13	test	test	NOUN
fbem-26181	56	14	between	between	ADP
fbem-26181	56	15	the	the	DET
fbem-26181	56	16	variables	variable	NOUN
fbem-26181	56	17	,	,	PUNCT
fbem-26181	56	18	as	as	SCONJ
fbem-26181	56	19	shown	show	VERB
fbem-26181	56	20	in	in	ADP
fbem-26181	56	21	table	table	NOUN
fbem-26181	56	22	2	2	NUM
fbem-26181	56	23	.	.	PUNCT
fbem-26181	56	24	table	table	NOUN
fbem-26181	56	25	2	2	NUM
fbem-26181	56	26	.	.	PUNCT
fbem-26181	57	1	granger	granger	PROPN
fbem-26181	57	2	causality	causality	PROPN
fbem-26181	57	3	tests	test	NOUN
fbem-26181	57	4	dig	dig	VERB
fbem-26181	57	5	dif	dif	ADV
fbem-26181	57	6	finratio	finratio	NOUN
fbem-26181	57	7	dig	dig	VERB
fbem-26181	57	8	11.7520	11.7520	NUM
fbem-26181	57	9	*	*	PUNCT
fbem-26181	57	10	*	*	PUNCT
fbem-26181	57	11	*	*	PUNCT
fbem-26181	57	12	8.2218	8.2218	NUM
fbem-26181	57	13	*	*	PUNCT
fbem-26181	57	14	*	*	PUNCT
fbem-26181	57	15	*	*	PUNCT
fbem-26181	57	16	dif	dif	X
fbem-26181	57	17	5.8e-07	5.8e-07	NUM
fbem-26181	58	1	7.2354	7.2354	NUM
fbem-26181	58	2	*	*	PUNCT
fbem-26181	58	3	*	*	PUNCT
fbem-26181	58	4	*	*	X
fbem-26181	58	5	finratio	finratio	NOUN
fbem-26181	58	6	0.2294	0.2294	NUM
fbem-26181	58	7	0.5855	0.5855	NUM
fbem-26181	58	8	all	all	DET
fbem-26181	58	9	0.2303	0.2303	NUM
fbem-26181	58	10	12.0740	12.0740	NUM
fbem-26181	58	11	*	*	PUNCT
fbem-26181	58	12	*	*	PUNCT
fbem-26181	58	13	*	*	PUNCT
fbem-26181	58	14	8.2739	8.2739	NUM
fbem-26181	58	15	*	*	NOUN
fbem-26181	58	16	*	*	PUNCT
fbem-26181	58	17	the	the	DET
fbem-26181	58	18	tests	test	NOUN
fbem-26181	58	19	are	be	AUX
fbem-26181	58	20	based	base	VERB
fbem-26181	58	21	on	on	ADP
fbem-26181	58	22	the	the	DET
fbem-26181	58	23	pvar	pvar	NOUN
fbem-26181	58	24	(	(	PUNCT
fbem-26181	58	25	1	1	NUM
fbem-26181	58	26	)	)	PUNCT
fbem-26181	58	27	model	model	NOUN
fbem-26181	58	28	,	,	PUNCT
fbem-26181	58	29	*	*	PUNCT
fbem-26181	58	30	*	*	PUNCT
fbem-26181	58	31	*	*	NOUN
fbem-26181	58	32	denotes	denote	NOUN
fbem-26181	58	33	significance	significance	NOUN
fbem-26181	58	34	at	at	ADP
fbem-26181	58	35	the	the	DET
fbem-26181	58	36	1	1	NUM
fbem-26181	58	37	%	%	NOUN
fbem-26181	58	38	level	level	NOUN
fbem-26181	58	39	,	,	PUNCT
fbem-26181	58	40	*	*	PUNCT
fbem-26181	58	41	*	*	NOUN
fbem-26181	58	42	denotes	denote	NOUN
fbem-26181	58	43	significance	significance	NOUN
fbem-26181	58	44	at	at	ADP
fbem-26181	58	45	the	the	DET
fbem-26181	58	46	5	5	NUM
fbem-26181	58	47	%	%	NOUN
fbem-26181	58	48	level	level	NOUN
fbem-26181	58	49	,	,	PUNCT
fbem-26181	58	50	*	*	PUNCT
fbem-26181	58	51	denotes	denote	NOUN
fbem-26181	58	52	significance	significance	NOUN
fbem-26181	58	53	at	at	ADP
fbem-26181	58	54	the	the	DET
fbem-26181	58	55	10	10	NUM
fbem-26181	58	56	%	%	NOUN
fbem-26181	58	57	level	level	NOUN
fbem-26181	58	58	.	.	PUNCT
fbem-26181	59	1	from	from	ADP
fbem-26181	59	2	the	the	DET
fbem-26181	59	3	results	result	NOUN
fbem-26181	59	4	,	,	PUNCT
fbem-26181	59	5	it	it	PRON
fbem-26181	59	6	can	can	AUX
fbem-26181	59	7	be	be	AUX
fbem-26181	59	8	seen	see	VERB
fbem-26181	59	9	that	that	SCONJ
fbem-26181	59	10	the	the	DET
fbem-26181	59	11	degree	degree	NOUN
fbem-26181	59	12	of	of	ADP
fbem-26181	59	13	financialization	financialization	NOUN
fbem-26181	59	14	shows	show	VERB
fbem-26181	59	15	a	a	DET
fbem-26181	59	16	significant	significant	ADJ
fbem-26181	59	17	bidirectional	bidirectional	ADJ
fbem-26181	59	18	relationship	relationship	NOUN
fbem-26181	59	19	with	with	ADP
fbem-26181	59	20	both	both	CCONJ
fbem-26181	59	21	the	the	DET
fbem-26181	59	22	regional	regional	ADJ
fbem-26181	59	23	digital	digital	ADJ
fbem-26181	59	24	financial	financial	ADJ
fbem-26181	59	25	index	index	NOUN
fbem-26181	59	26	and	and	CCONJ
fbem-26181	59	27	the	the	DET
fbem-26181	59	28	regional	regional	ADJ
fbem-26181	59	29	digitalization	digitalization	NOUN
fbem-26181	59	30	level	level	NOUN
fbem-26181	59	31	,	,	PUNCT
fbem-26181	59	32	while	while	SCONJ
fbem-26181	59	33	the	the	DET
fbem-26181	59	34	regional	regional	ADJ
fbem-26181	59	35	digital	digital	ADJ
fbem-26181	59	36	finance	finance	NOUN
fbem-26181	59	37	index	index	NOUN
fbem-26181	59	38	shows	show	VERB
fbem-26181	59	39	a	a	DET
fbem-26181	59	40	unidirectional	unidirectional	ADJ
fbem-26181	59	41	relationship	relationship	NOUN
fbem-26181	59	42	with	with	ADP
fbem-26181	59	43	the	the	DET
fbem-26181	59	44	regional	regional	ADJ
fbem-26181	59	45	digital	digital	ADJ
fbem-26181	59	46	economy	economy	NOUN
fbem-26181	59	47	level	level	NOUN
fbem-26181	59	48	.	.	PUNCT
fbem-26181	60	1	therefore	therefore	ADV
fbem-26181	60	2	,	,	PUNCT
fbem-26181	60	3	the	the	DET
fbem-26181	60	4	set	set	ADJ
fbem-26181	60	5	response	response	NOUN
fbem-26181	60	6	mechanism	mechanism	NOUN
fbem-26181	60	7	of	of	ADP
fbem-26181	60	8	dig→dif→finratio	dig→dif→finratio	NOUN
fbem-26181	60	9	is	be	AUX
fbem-26181	60	10	valid	valid	ADJ
fbem-26181	60	11	.	.	PUNCT
fbem-26181	61	1	4.2	4.2	NUM
fbem-26181	61	2	.	.	PUNCT
fbem-26181	62	1	pvar	pvar	PROPN
fbem-26181	62	2	results	result	NOUN
fbem-26181	62	3	i	i	PRON
fbem-26181	62	4	then	then	ADV
fbem-26181	62	5	give	give	VERB
fbem-26181	62	6	the	the	DET
fbem-26181	62	7	results	result	NOUN
fbem-26181	62	8	for	for	ADP
fbem-26181	62	9	the	the	DET
fbem-26181	62	10	estimated	estimate	VERB
fbem-26181	62	11	pvar	pvar	NOUN
fbem-26181	62	12	(	(	PUNCT
fbem-26181	62	13	1	1	NUM
fbem-26181	62	14	)	)	PUNCT
fbem-26181	62	15	and	and	CCONJ
fbem-26181	62	16	gmm	gmm	PROPN
fbem-26181	62	17	coefficients	coefficient	NOUN
fbem-26181	62	18	as	as	SCONJ
fbem-26181	62	19	shown	show	VERB
fbem-26181	62	20	in	in	ADP
fbem-26181	62	21	table	table	NOUN
fbem-26181	62	22	3	3	NUM
fbem-26181	62	23	.	.	PUNCT
fbem-26181	62	24	table	table	NOUN
fbem-26181	62	25	3	3	NUM
fbem-26181	62	26	.	.	PUNCT
fbem-26181	63	1	pvar	pvar	NOUN
fbem-26181	63	2	(	(	PUNCT
fbem-26181	63	3	1	1	NUM
fbem-26181	63	4	)	)	PUNCT
fbem-26181	63	5	coefficient	coefficient	NOUN
fbem-26181	63	6	estimates	estimate	VERB
fbem-26181	63	7	dependent	dependent	ADJ
fbem-26181	63	8	variable	variable	NOUN
fbem-26181	63	9	dig	dig	VERB
fbem-26181	63	10	dif	dif	ADV
fbem-26181	63	11	finratio	finratio	NOUN
fbem-26181	63	12	dig	dig	NOUN
fbem-26181	63	13	(	(	PUNCT
fbem-26181	63	14	1	1	NUM
fbem-26181	63	15	)	)	PUNCT
fbem-26181	63	16	0.6275	0.6275	NUM
fbem-26181	63	17	*	*	PUNCT
fbem-26181	63	18	*	*	PUNCT
fbem-26181	63	19	*	*	PUNCT
fbem-26181	63	20	(	(	PUNCT
fbem-26181	63	21	0.0842	0.0842	NUM
fbem-26181	63	22	)	)	PUNCT
fbem-26181	63	23	-14.7248	-14.7248	PUNCT
fbem-26181	63	24	(	(	PUNCT
fbem-26181	63	25	16.3658	16.3658	NUM
fbem-26181	63	26	)	)	PUNCT
fbem-26181	63	27	-0.1060	-0.1060	NOUN
fbem-26181	63	28	*	*	PUNCT
fbem-26181	63	29	(	(	PUNCT
fbem-26181	63	30	0.0617	0.0617	NUM
fbem-26181	63	31	)	)	PUNCT
fbem-26181	63	32	dif	dif	X
fbem-26181	63	33	(	(	PUNCT
fbem-26181	63	34	1	1	NUM
fbem-26181	63	35	)	)	PUNCT
fbem-26181	63	36	0.0000675	0.0000675	NUM
fbem-26181	63	37	*	*	SYM
fbem-26181	63	38	*	*	PUNCT
fbem-26181	63	39	(	(	PUNCT
fbem-26181	63	40	0.0000348	0.0000348	NUM
fbem-26181	63	41	)	)	PUNCT
fbem-26181	63	42	0.7433	0.7433	NUM
fbem-26181	63	43	*	*	PUNCT
fbem-26181	63	44	*	*	PUNCT
fbem-26181	63	45	*	*	PUNCT
fbem-26181	63	46	(	(	PUNCT
fbem-26181	63	47	0.0086	0.0086	NUM
fbem-26181	63	48	)	)	PUNCT
fbem-26181	63	49	0.0001015	0.0001015	NUM
fbem-26181	63	50	*	*	PUNCT
fbem-26181	63	51	*	*	PUNCT
fbem-26181	63	52	*	*	PUNCT
fbem-26181	63	53	(	(	PUNCT
fbem-26181	63	54	0.0000329	0.0000329	NUM
fbem-26181	63	55	finratio	finratio	NOUN
fbem-26181	63	56	(	(	PUNCT
fbem-26181	63	57	1	1	NUM
fbem-26181	63	58	)	)	PUNCT
fbem-26181	63	59	-0.0160	-0.0160	NOUN
fbem-26181	63	60	*	*	PUNCT
fbem-26181	63	61	(	(	PUNCT
fbem-26181	63	62	0.0114	0.0114	NUM
fbem-26181	63	63	)	)	PUNCT
fbem-26181	63	64	-1.2522	-1.2522	NOUN
fbem-26181	63	65	(	(	PUNCT
fbem-26181	63	66	3.0467	3.0467	NUM
fbem-26181	63	67	)	)	PUNCT
fbem-26181	63	68	0.7935	0.7935	NUM
fbem-26181	63	69	*	*	PUNCT
fbem-26181	64	1	*	*	PUNCT
fbem-26181	64	2	*	*	PUNCT
fbem-26181	64	3	(	(	PUNCT
fbem-26181	64	4	0.0203	0.0203	NUM
fbem-26181	64	5	)	)	PUNCT
fbem-26181	64	6	no	no	INTJ
fbem-26181	64	7	.	.	PUNCT
fbem-26181	64	8	of	of	ADP
fbem-26181	64	9	obs.=979	obs.=979	PROPN
fbem-26181	64	10	,	,	PUNCT
fbem-26181	64	11	no	no	INTJ
fbem-26181	64	12	.	.	PUNCT
fbem-26181	64	13	of	of	ADP
fbem-26181	64	14	panels=89	panels=89	PROPN
fbem-26181	64	15	.	.	PUNCT
fbem-26181	65	1	the	the	DET
fbem-26181	65	2	pvar	pvar	PROPN
fbem-26181	65	3	model	model	NOUN
fbem-26181	65	4	estimated	estimate	VERB
fbem-26181	65	5	1	1	NUM
fbem-26181	65	6	lag	lag	NOUN
fbem-26181	65	7	according	accord	VERB
fbem-26181	65	8	to	to	ADP
fbem-26181	65	9	the	the	DET
fbem-26181	65	10	aic	aic	PROPN
fbem-26181	65	11	rule	rule	NOUN
fbem-26181	65	12	.	.	PUNCT
fbem-26181	66	1	*	*	PUNCT
fbem-26181	66	2	*	*	PUNCT
fbem-26181	66	3	*	*	NOUN
fbem-26181	66	4	denotes	denote	NOUN
fbem-26181	66	5	significance	significance	NOUN
fbem-26181	66	6	at	at	ADP
fbem-26181	66	7	the	the	DET
fbem-26181	66	8	1	1	NUM
fbem-26181	66	9	%	%	NOUN
fbem-26181	66	10	level	level	NOUN
fbem-26181	66	11	.	.	PUNCT
fbem-26181	67	1	*	*	PUNCT
fbem-26181	68	1	*	*	PUNCT
fbem-26181	68	2	denotes	denote	NOUN
fbem-26181	68	3	significance	significance	NOUN
fbem-26181	68	4	at	at	ADP
fbem-26181	68	5	the	the	DET
fbem-26181	68	6	5	5	NUM
fbem-26181	68	7	%	%	NOUN
fbem-26181	68	8	level	level	NOUN
fbem-26181	68	9	.	.	PUNCT
fbem-26181	69	1	*	*	PUNCT
fbem-26181	69	2	denotes	denote	NOUN
fbem-26181	69	3	significance	significance	NOUN
fbem-26181	69	4	at	at	ADP
fbem-26181	69	5	the	the	DET
fbem-26181	69	6	10	10	NUM
fbem-26181	69	7	%	%	NOUN
fbem-26181	69	8	level	level	NOUN
fbem-26181	69	9	.	.	PUNCT
fbem-26181	70	1	table	table	NOUN
fbem-26181	70	2	3	3	NUM
fbem-26181	70	3	shows	show	VERB
fbem-26181	70	4	that	that	SCONJ
fbem-26181	70	5	the	the	DET
fbem-26181	70	6	level	level	NOUN
fbem-26181	70	7	of	of	ADP
fbem-26181	70	8	regional	regional	ADJ
fbem-26181	70	9	digital	digital	ADJ
fbem-26181	70	10	economy	economy	NOUN
fbem-26181	70	11	development	development	NOUN
fbem-26181	70	12	does	do	AUX
fbem-26181	70	13	not	not	PART
fbem-26181	70	14	have	have	VERB
fbem-26181	70	15	a	a	DET
fbem-26181	70	16	significant	significant	ADJ
fbem-26181	70	17	effect	effect	NOUN
fbem-26181	70	18	on	on	ADP
fbem-26181	70	19	the	the	DET
fbem-26181	70	20	performance	performance	NOUN
fbem-26181	70	21	of	of	ADP
fbem-26181	70	22	digital	digital	ADJ
fbem-26181	70	23	financial	financial	ADJ
fbem-26181	70	24	inclusion	inclusion	NOUN
fbem-26181	70	25	,	,	PUNCT
fbem-26181	70	26	but	but	CCONJ
fbem-26181	70	27	it	it	PRON
fbem-26181	70	28	has	have	VERB
fbem-26181	70	29	a	a	DET
fbem-26181	70	30	slight	slight	ADJ
fbem-26181	70	31	negative	negative	ADJ
fbem-26181	70	32	influence	influence	NOUN
fbem-26181	70	33	on	on	ADP
fbem-26181	70	34	the	the	DET
fbem-26181	70	35	financialization	financialization	NOUN
fbem-26181	70	36	of	of	ADP
fbem-26181	70	37	enterprises	enterprise	NOUN
fbem-26181	70	38	.	.	PUNCT
fbem-26181	71	1	in	in	ADP
fbem-26181	71	2	contrast	contrast	NOUN
fbem-26181	71	3	,	,	PUNCT
fbem-26181	71	4	digital	digital	ADJ
fbem-26181	71	5	inclusive	inclusive	ADJ
fbem-26181	71	6	finance	finance	NOUN
fbem-26181	71	7	has	have	VERB
fbem-26181	71	8	a	a	DET
fbem-26181	71	9	positive	positive	ADJ
fbem-26181	71	10	effect	effect	NOUN
fbem-26181	71	11	on	on	ADP
fbem-26181	71	12	regional	regional	ADJ
fbem-26181	71	13	financialization	financialization	NOUN
fbem-26181	71	14	,	,	PUNCT
fbem-26181	71	15	which	which	PRON
fbem-26181	71	16	may	may	AUX
fbem-26181	71	17	mainly	mainly	ADV
fbem-26181	71	18	originate	originate	VERB
fbem-26181	71	19	from	from	ADP
fbem-26181	71	20	msmes	msme	NOUN
fbem-26181	71	21	.	.	PUNCT
fbem-26181	72	1	using	use	VERB
fbem-26181	72	2	finratio	finratio	NOUN
fbem-26181	72	3	as	as	ADP
fbem-26181	72	4	the	the	DET
fbem-26181	72	5	dependent	dependent	ADJ
fbem-26181	72	6	variable	variable	NOUN
fbem-26181	72	7	,	,	PUNCT
fbem-26181	72	8	it	it	PRON
fbem-26181	72	9	is	be	AUX
fbem-26181	72	10	observed	observe	VERB
fbem-26181	72	11	that	that	SCONJ
fbem-26181	72	12	the	the	DET
fbem-26181	72	13	gmm	gmm	PROPN
fbem-26181	72	14	coefficients	coefficient	NOUN
fbem-26181	72	15	of	of	ADP
fbem-26181	72	16	both	both	PRON
fbem-26181	72	17	dig	dig	VERB
fbem-26181	72	18	and	and	CCONJ
fbem-26181	72	19	dif	dif	ADV
fbem-26181	72	20	are	be	AUX
fbem-26181	72	21	significant	significant	ADJ
fbem-26181	72	22	.	.	PUNCT
fbem-26181	73	1	figure	figure	NOUN
fbem-26181	73	2	1	1	NUM
fbem-26181	73	3	.	.	PUNCT
fbem-26181	74	1	irfs	irf	NOUN
fbem-26181	74	2	of	of	ADP
fbem-26181	74	3	dig	dig	NOUN
fbem-26181	74	4	,	,	PUNCT
fbem-26181	74	5	dif	dif	ADV
fbem-26181	74	6	and	and	CCONJ
fbem-26181	74	7	finratio	finratio	NOUN
fbem-26181	74	8	.	.	PUNCT
fbem-26181	75	1	based	base	VERB
fbem-26181	75	2	on	on	ADP
fbem-26181	75	3	pvar	pvar	NOUN
fbem-26181	75	4	(	(	PUNCT
fbem-26181	75	5	1	1	NUM
fbem-26181	75	6	)	)	PUNCT
fbem-26181	75	7	.	.	PUNCT
fbem-26181	76	1	4.3	4.3	NUM
fbem-26181	76	2	.	.	PUNCT
fbem-26181	76	3	impulse	impulse	ADJ
fbem-26181	76	4	response	response	NOUN
fbem-26181	76	5	analysis	analysis	NOUN
fbem-26181	76	6	results	result	NOUN
fbem-26181	76	7	i	i	PRON
fbem-26181	76	8	estimate	estimate	VERB
fbem-26181	76	9	the	the	DET
fbem-26181	76	10	irf	irf	PROPN
fbem-26181	76	11	and	and	CCONJ
fbem-26181	76	12	fevd	fevd	NOUN
fbem-26181	76	13	using	use	VERB
fbem-26181	76	14	the	the	DET
fbem-26181	76	15	same	same	ADJ
fbem-26181	76	16	order	order	NOUN
fbem-26181	76	17	as	as	ADP
fbem-26181	76	18	in	in	ADP
fbem-26181	76	19	the	the	DET
fbem-26181	76	20	estimation	estimation	NOUN
fbem-26181	76	21	of	of	ADP
fbem-26181	76	22	the	the	DET
fbem-26181	76	23	pvar	pvar	NOUN
fbem-26181	76	24	model	model	NOUN
fbem-26181	76	25	.	.	PUNCT
fbem-26181	77	1	the	the	DET
fbem-26181	77	2	irf	irf	PROPN
fbem-26181	77	3	results	result	NOUN
fbem-26181	77	4	are	be	AUX
fbem-26181	77	5	shown	show	VERB
fbem-26181	77	6	in	in	ADP
fbem-26181	77	7	figure	figure	NOUN
fbem-26181	77	8	1	1	NUM
fbem-26181	77	9	.	.	PUNCT
fbem-26181	78	1	it	it	PRON
fbem-26181	78	2	can	can	AUX
fbem-26181	78	3	be	be	AUX
fbem-26181	78	4	found	find	VERB
fbem-26181	78	5	from	from	ADP
fbem-26181	78	6	the	the	DET
fbem-26181	78	7	impulse	impulse	ADJ
fbem-26181	78	8	response	response	NOUN
fbem-26181	78	9	diagram	diagram	NOUN
fbem-26181	78	10	that	that	SCONJ
fbem-26181	78	11	the	the	DET
fbem-26181	78	12	regional	regional	ADJ
fbem-26181	78	13	digital	digital	ADJ
fbem-26181	78	14	economy	economy	NOUN
fbem-26181	78	15	development	development	NOUN
fbem-26181	78	16	level	level	NOUN
fbem-26181	78	17	,	,	PUNCT
fbem-26181	78	18	regional	regional	ADJ
fbem-26181	78	19	digital	digital	ADJ
fbem-26181	78	20	finance	finance	NOUN
fbem-26181	78	21	index	index	NOUN
fbem-26181	78	22	and	and	CCONJ
fbem-26181	78	23	financialization	financialization	NOUN
fbem-26181	78	24	degree	degree	NOUN
fbem-26181	78	25	of	of	ADP
fbem-26181	78	26	their	their	PRON
fbem-26181	78	27	own	own	ADJ
fbem-26181	78	28	lagged	lag	VERB
fbem-26181	78	29	variables	variable	NOUN
fbem-26181	78	30	all	all	PRON
fbem-26181	78	31	show	show	VERB
fbem-26181	78	32	significant	significant	ADJ
fbem-26181	78	33	positive	positive	ADJ
fbem-26181	78	34	effects	effect	NOUN
fbem-26181	78	35	,	,	PUNCT
fbem-26181	78	36	dig	dig	VERB
fbem-26181	78	37	tends	tend	VERB
fbem-26181	78	38	to	to	PART
fbem-26181	78	39	eliminate	eliminate	VERB
fbem-26181	78	40	the	the	DET
fbem-26181	78	41	impact	impact	NOUN
fbem-26181	78	42	from	from	ADP
fbem-26181	78	43	the	the	DET
fbem-26181	78	44	6th	6th	ADJ
fbem-26181	78	45	period	period	NOUN
fbem-26181	78	46	,	,	PUNCT
fbem-26181	78	47	and	and	CCONJ
fbem-26181	78	48	dif	dif	ADV
fbem-26181	78	49	and	and	CCONJ
fbem-26181	78	50	finratio	finratio	NOUN
fbem-26181	78	51	tend	tend	VERB
fbem-26181	78	52	to	to	PART
fbem-26181	78	53	eliminate	eliminate	VERB
fbem-26181	78	54	the	the	DET
fbem-26181	78	55	impact	impact	NOUN
fbem-26181	78	56	from	from	ADP
fbem-26181	78	57	the	the	DET
fbem-26181	78	58	8th	8th	ADJ
fbem-26181	78	59	period	period	NOUN
fbem-26181	78	60	.	.	PUNCT
fbem-26181	79	1	131	131	NUM
fbem-26181	79	2	dig	dig	NOUN
fbem-26181	79	3	shows	show	VERB
fbem-26181	79	4	a	a	DET
fbem-26181	79	5	prominent	prominent	ADJ
fbem-26181	79	6	positive	positive	ADJ
fbem-26181	79	7	effect	effect	NOUN
fbem-26181	79	8	on	on	ADP
fbem-26181	79	9	digital	digital	ADJ
fbem-26181	79	10	financial	financial	ADJ
fbem-26181	79	11	inclusion	inclusion	NOUN
fbem-26181	79	12	in	in	ADP
fbem-26181	79	13	the	the	DET
fbem-26181	79	14	near	near	ADJ
fbem-26181	79	15	future	future	NOUN
fbem-26181	79	16	and	and	CCONJ
fbem-26181	79	17	a	a	DET
fbem-26181	79	18	negative	negative	ADJ
fbem-26181	79	19	influence	influence	NOUN
fbem-26181	79	20	on	on	ADP
fbem-26181	79	21	the	the	DET
fbem-26181	79	22	degree	degree	NOUN
fbem-26181	79	23	of	of	ADP
fbem-26181	79	24	financialization	financialization	NOUN
fbem-26181	79	25	.	.	PUNCT
fbem-26181	80	1	finratio	finratio	PROPN
fbem-26181	80	2	shows	show	VERB
fbem-26181	80	3	a	a	DET
fbem-26181	80	4	negative	negative	ADJ
fbem-26181	80	5	effect	effect	NOUN
fbem-26181	80	6	on	on	ADP
fbem-26181	80	7	dig	dig	NOUN
fbem-26181	80	8	in	in	ADP
fbem-26181	80	9	the	the	DET
fbem-26181	80	10	long	long	ADJ
fbem-26181	80	11	term	term	NOUN
fbem-26181	80	12	and	and	CCONJ
fbem-26181	80	13	a	a	DET
fbem-26181	80	14	positive	positive	ADJ
fbem-26181	80	15	function	function	NOUN
fbem-26181	80	16	on	on	ADP
fbem-26181	80	17	dif	dif	ADV
fbem-26181	80	18	in	in	ADP
fbem-26181	80	19	the	the	DET
fbem-26181	80	20	medium	medium	ADJ
fbem-26181	80	21	term	term	NOUN
fbem-26181	80	22	,	,	PUNCT
fbem-26181	80	23	but	but	CCONJ
fbem-26181	80	24	no	no	DET
fbem-26181	80	25	significant	significant	ADJ
fbem-26181	80	26	effect	effect	NOUN
fbem-26181	80	27	of	of	ADP
fbem-26181	80	28	dif	dif	ADV
fbem-26181	80	29	on	on	ADP
fbem-26181	80	30	finratio	finratio	NOUN
fbem-26181	80	31	is	be	AUX
fbem-26181	80	32	observed	observe	VERB
fbem-26181	80	33	.	.	PUNCT
fbem-26181	81	1	4.4	4.4	NUM
fbem-26181	81	2	.	.	PUNCT
fbem-26181	81	3	variance	variance	NOUN
fbem-26181	81	4	decomposition	decomposition	NOUN
fbem-26181	81	5	analysis	analysis	NOUN
fbem-26181	81	6	results	result	NOUN
fbem-26181	81	7	table	table	VERB
fbem-26181	81	8	4	4	NUM
fbem-26181	81	9	shows	show	VERB
fbem-26181	81	10	the	the	DET
fbem-26181	81	11	variance	variance	NOUN
fbem-26181	81	12	decomposition	decomposition	NOUN
fbem-26181	81	13	for	for	ADP
fbem-26181	81	14	the	the	DET
fbem-26181	81	15	basic	basic	ADJ
fbem-26181	81	16	pvar	pvar	NOUN
fbem-26181	81	17	model	model	NOUN
fbem-26181	81	18	after	after	ADP
fbem-26181	81	19	stages	stage	NOUN
fbem-26181	81	20	5	5	NUM
fbem-26181	81	21	,	,	PUNCT
fbem-26181	81	22	10	10	NUM
fbem-26181	81	23	,	,	PUNCT
fbem-26181	81	24	15	15	NUM
fbem-26181	81	25	,	,	PUNCT
fbem-26181	81	26	and	and	CCONJ
fbem-26181	81	27	20	20	NUM
fbem-26181	81	28	.	.	PUNCT
fbem-26181	81	29	table	table	NOUN
fbem-26181	81	30	4	4	NUM
fbem-26181	81	31	.	.	PUNCT
fbem-26181	81	32	variance	variance	NOUN
fbem-26181	81	33	decomposition	decomposition	NOUN
fbem-26181	81	34	response	response	NOUN
fbem-26181	81	35	variable	variable	PROPN
fbem-26181	81	36	&	&	CCONJ
fbem-26181	81	37	forecast	forecast	PROPN
fbem-26181	81	38	horizon	horizon	PROPN
fbem-26181	81	39	impulse	impulse	ADJ
fbem-26181	81	40	variable	variable	NOUN
fbem-26181	81	41	dig	dig	VERB
fbem-26181	81	42	dif	dif	ADV
fbem-26181	81	43	finratio	finratio	NOUN
fbem-26181	81	44	dig	dig	VERB
fbem-26181	81	45	5	5	NUM
fbem-26181	81	46	0.993	0.993	NUM
fbem-26181	81	47	0.002	0.002	NUM
fbem-26181	81	48	0.004	0.004	NUM
fbem-26181	81	49	10	10	NUM
fbem-26181	81	50	0.990	0.990	NUM
fbem-26181	81	51	0.003	0.003	NUM
fbem-26181	81	52	0.007	0.007	NUM
fbem-26181	81	53	15	15	NUM
fbem-26181	81	54	0.989	0.989	NUM
fbem-26181	81	55	0.003	0.003	NUM
fbem-26181	81	56	0.007	0.007	NUM
fbem-26181	81	57	20	20	NUM
fbem-26181	81	58	0.989	0.989	NUM
fbem-26181	81	59	0.003	0.003	NUM
fbem-26181	81	60	0.007	0.007	NUM
fbem-26181	81	61	dif	dif	ADV
fbem-26181	81	62	5	5	NUM
fbem-26181	81	63	0.003	0.003	NUM
fbem-26181	81	64	0.997	0.997	NUM
fbem-26181	81	65	0.000	0.000	NUM
fbem-26181	81	66	10	10	NUM
fbem-26181	81	67	0.004	0.004	NUM
fbem-26181	81	68	0.996	0.996	NUM
fbem-26181	81	69	0.000	0.000	NUM
fbem-26181	81	70	15	15	NUM
fbem-26181	81	71	0.004	0.004	NUM
fbem-26181	81	72	0.996	0.996	NUM
fbem-26181	81	73	0.000	0.000	NUM
fbem-26181	81	74	20	20	NUM
fbem-26181	81	75	0.004	0.004	NUM
fbem-26181	81	76	0.996	0.996	NUM
fbem-26181	81	77	0.000	0.000	NUM
fbem-26181	81	78	finratio	finratio	NOUN
fbem-26181	81	79	5	5	NUM
fbem-26181	81	80	0.006	0.006	NUM
fbem-26181	81	81	0.001	0.001	NUM
fbem-26181	81	82	0.993	0.993	NUM
fbem-26181	81	83	10	10	NUM
fbem-26181	81	84	0.010	0.010	NUM
fbem-26181	81	85	0.002	0.002	NUM
fbem-26181	81	86	0.988	0.988	NUM
fbem-26181	81	87	15	15	NUM
fbem-26181	81	88	0.011	0.011	NUM
fbem-26181	81	89	0.002	0.002	NUM
fbem-26181	81	90	0.987	0.987	NUM
fbem-26181	81	91	20	20	NUM
fbem-26181	81	92	0.011	0.011	NUM
fbem-26181	81	93	0.002	0.002	NUM
fbem-26181	81	94	0.987	0.987	NUM
fbem-26181	81	95	it	it	PRON
fbem-26181	81	96	can	can	AUX
fbem-26181	81	97	be	be	AUX
fbem-26181	81	98	observed	observe	VERB
fbem-26181	81	99	that	that	SCONJ
fbem-26181	81	100	the	the	DET
fbem-26181	81	101	contribution	contribution	NOUN
fbem-26181	81	102	of	of	ADP
fbem-26181	81	103	changes	change	NOUN
fbem-26181	81	104	in	in	ADP
fbem-26181	81	105	the	the	DET
fbem-26181	81	106	level	level	NOUN
fbem-26181	81	107	of	of	ADP
fbem-26181	81	108	regional	regional	ADJ
fbem-26181	81	109	digital	digital	ADJ
fbem-26181	81	110	economy	economy	NOUN
fbem-26181	81	111	to	to	PART
fbem-26181	81	112	changes	change	NOUN
fbem-26181	81	113	in	in	ADP
fbem-26181	81	114	regional	regional	ADJ
fbem-26181	81	115	financialization	financialization	NOUN
fbem-26181	81	116	increases	increase	NOUN
fbem-26181	81	117	gradually	gradually	ADV
fbem-26181	81	118	from	from	ADP
fbem-26181	81	119	the	the	DET
fbem-26181	81	120	short	short	ADJ
fbem-26181	81	121	to	to	ADP
fbem-26181	81	122	the	the	DET
fbem-26181	81	123	long	long	ADJ
fbem-26181	81	124	term	term	NOUN
fbem-26181	81	125	to	to	ADP
fbem-26181	81	126	1.1	1.1	NUM
fbem-26181	81	127	per	per	ADP
fbem-26181	81	128	cent	cent	NOUN
fbem-26181	81	129	,	,	PUNCT
fbem-26181	81	130	while	while	SCONJ
fbem-26181	81	131	the	the	DET
fbem-26181	81	132	impact	impact	NOUN
fbem-26181	81	133	of	of	ADP
fbem-26181	81	134	changes	change	NOUN
fbem-26181	81	135	in	in	ADP
fbem-26181	81	136	digital	digital	ADJ
fbem-26181	81	137	finance	finance	NOUN
fbem-26181	81	138	on	on	ADP
fbem-26181	81	139	regional	regional	ADJ
fbem-26181	81	140	financialization	financialization	NOUN
fbem-26181	81	141	remains	remain	VERB
fbem-26181	81	142	at	at	ADP
fbem-26181	81	143	a	a	DET
fbem-26181	81	144	weak	weak	ADJ
fbem-26181	81	145	level	level	NOUN
fbem-26181	81	146	in	in	ADP
fbem-26181	81	147	the	the	DET
fbem-26181	81	148	long	long	ADJ
fbem-26181	81	149	term	term	NOUN
fbem-26181	81	150	.	.	PUNCT
fbem-26181	82	1	changes	change	NOUN
fbem-26181	82	2	in	in	ADP
fbem-26181	82	3	corporate	corporate	ADJ
fbem-26181	82	4	financialization	financialization	NOUN
fbem-26181	82	5	have	have	VERB
fbem-26181	82	6	a	a	DET
fbem-26181	82	7	slight	slight	ADJ
fbem-26181	82	8	impact	impact	NOUN
fbem-26181	82	9	on	on	ADP
fbem-26181	82	10	changes	change	NOUN
fbem-26181	82	11	in	in	ADP
fbem-26181	82	12	digital	digital	ADJ
fbem-26181	82	13	economic	economic	ADJ
fbem-26181	82	14	development	development	NOUN
fbem-26181	82	15	in	in	ADP
fbem-26181	82	16	the	the	DET
fbem-26181	82	17	short	short	ADJ
fbem-26181	82	18	and	and	CCONJ
fbem-26181	82	19	long	long	ADJ
fbem-26181	82	20	term	term	NOUN
fbem-26181	82	21	,	,	PUNCT
fbem-26181	82	22	but	but	CCONJ
fbem-26181	82	23	do	do	AUX
fbem-26181	82	24	not	not	PART
fbem-26181	82	25	affect	affect	VERB
fbem-26181	82	26	digital	digital	ADJ
fbem-26181	82	27	financial	financial	ADJ
fbem-26181	82	28	inclusion	inclusion	NOUN
fbem-26181	82	29	.	.	PUNCT
fbem-26181	83	1	5	5	X
fbem-26181	83	2	.	.	X
fbem-26181	83	3	conclusions	conclusion	NOUN
fbem-26181	83	4	this	this	DET
fbem-26181	83	5	paper	paper	NOUN
fbem-26181	83	6	considers	consider	VERB
fbem-26181	83	7	the	the	DET
fbem-26181	83	8	pvar	pvar	ADJ
fbem-26181	83	9	method	method	NOUN
fbem-26181	83	10	’s	’s	PART
fbem-26181	83	11	various	various	ADJ
fbem-26181	83	12	advantages	advantage	NOUN
fbem-26181	83	13	to	to	PART
fbem-26181	83	14	study	study	VERB
fbem-26181	83	15	the	the	DET
fbem-26181	83	16	relationship	relationship	NOUN
fbem-26181	83	17	between	between	ADP
fbem-26181	83	18	the	the	DET
fbem-26181	83	19	level	level	NOUN
fbem-26181	83	20	of	of	ADP
fbem-26181	83	21	digital	digital	ADJ
fbem-26181	83	22	economy	economy	NOUN
fbem-26181	83	23	and	and	CCONJ
fbem-26181	83	24	the	the	DET
fbem-26181	83	25	level	level	NOUN
fbem-26181	83	26	of	of	ADP
fbem-26181	83	27	enterprise	enterprise	NOUN
fbem-26181	83	28	financialization	financialization	NOUN
fbem-26181	83	29	in	in	ADP
fbem-26181	83	30	89	89	NUM
fbem-26181	83	31	prefecture	prefecture	NOUN
fbem-26181	83	32	-	-	PUNCT
fbem-26181	83	33	level	level	NOUN
fbem-26181	83	34	cities	city	NOUN
fbem-26181	83	35	,	,	PUNCT
fbem-26181	83	36	and	and	CCONJ
fbem-26181	83	37	constructs	construct	VERB
fbem-26181	83	38	irfs	irf	NOUN
fbem-26181	83	39	for	for	ADP
fbem-26181	83	40	the	the	DET
fbem-26181	83	41	period	period	NOUN
fbem-26181	83	42	of	of	ADP
fbem-26181	83	43	2011	2011	NUM
fbem-26181	83	44	-	-	SYM
fbem-26181	83	45	2021	2021	NUM
fbem-26181	83	46	,	,	PUNCT
fbem-26181	83	47	and	and	CCONJ
fbem-26181	83	48	then	then	ADV
fbem-26181	83	49	conducts	conduct	VERB
fbem-26181	83	50	fevd	fevd	NOUN
fbem-26181	83	51	analysis	analysis	NOUN
fbem-26181	83	52	on	on	ADP
fbem-26181	83	53	each	each	DET
fbem-26181	83	54	variable	variable	NOUN
fbem-26181	83	55	.	.	PUNCT
fbem-26181	84	1	according	accord	VERB
fbem-26181	84	2	to	to	ADP
fbem-26181	84	3	existing	exist	VERB
fbem-26181	84	4	domestic	domestic	ADJ
fbem-26181	84	5	and	and	CCONJ
fbem-26181	84	6	international	international	ADJ
fbem-26181	84	7	studies	study	NOUN
fbem-26181	84	8	,	,	PUNCT
fbem-26181	84	9	this	this	DET
fbem-26181	84	10	paper	paper	NOUN
fbem-26181	84	11	may	may	AUX
fbem-26181	84	12	be	be	AUX
fbem-26181	84	13	the	the	DET
fbem-26181	84	14	initial	initial	ADJ
fbem-26181	84	15	study	study	NOUN
fbem-26181	84	16	that	that	PRON
fbem-26181	84	17	uses	use	VERB
fbem-26181	84	18	the	the	DET
fbem-26181	84	19	pvar	pvar	ADJ
fbem-26181	84	20	model	model	NOUN
fbem-26181	84	21	to	to	PART
fbem-26181	84	22	analyze	analyze	VERB
fbem-26181	84	23	the	the	DET
fbem-26181	84	24	relevance	relevance	NOUN
fbem-26181	84	25	between	between	ADP
fbem-26181	84	26	regional	regional	ADJ
fbem-26181	84	27	digital	digital	ADJ
fbem-26181	84	28	economy	economy	NOUN
fbem-26181	84	29	development	development	NOUN
fbem-26181	84	30	,	,	PUNCT
fbem-26181	84	31	regional	regional	ADJ
fbem-26181	84	32	digital	digital	ADJ
fbem-26181	84	33	financial	financial	ADJ
fbem-26181	84	34	inclusion	inclusion	NOUN
fbem-26181	84	35	level	level	NOUN
fbem-26181	84	36	and	and	CCONJ
fbem-26181	84	37	enterprise	enterprise	NOUN
fbem-26181	84	38	financialization	financialization	NOUN
fbem-26181	84	39	.	.	PUNCT
fbem-26181	85	1	the	the	DET
fbem-26181	85	2	results	result	NOUN
fbem-26181	85	3	of	of	ADP
fbem-26181	85	4	the	the	DET
fbem-26181	85	5	study	study	NOUN
fbem-26181	85	6	show	show	VERB
fbem-26181	85	7	less	less	ADJ
fbem-26181	85	8	-	-	PUNCT
fbem-26181	85	9	eminent	eminent	ADJ
fbem-26181	85	10	conclusion	conclusion	NOUN
fbem-26181	85	11	that	that	SCONJ
fbem-26181	85	12	regional	regional	ADJ
fbem-26181	85	13	digital	digital	ADJ
fbem-26181	85	14	economic	economic	ADJ
fbem-26181	85	15	development	development	NOUN
fbem-26181	85	16	is	be	AUX
fbem-26181	85	17	the	the	DET
fbem-26181	85	18	main	main	ADJ
fbem-26181	85	19	force	force	NOUN
fbem-26181	85	20	pushes	push	VERB
fbem-26181	85	21	the	the	DET
fbem-26181	85	22	level	level	NOUN
fbem-26181	85	23	of	of	ADP
fbem-26181	85	24	enterprise	enterprise	NOUN
fbem-26181	85	25	financialization	financialization	NOUN
fbem-26181	85	26	,	,	PUNCT
fbem-26181	85	27	while	while	SCONJ
fbem-26181	85	28	digital	digital	ADJ
fbem-26181	85	29	finance	finance	NOUN
fbem-26181	85	30	does	do	AUX
fbem-26181	85	31	not	not	PART
fbem-26181	85	32	show	show	VERB
fbem-26181	85	33	a	a	DET
fbem-26181	85	34	significant	significant	ADJ
fbem-26181	85	35	impact	impact	NOUN
fbem-26181	85	36	.	.	PUNCT
fbem-26181	86	1	i	i	PRON
fbem-26181	86	2	try	try	VERB
fbem-26181	86	3	to	to	PART
fbem-26181	86	4	explain	explain	VERB
fbem-26181	86	5	this	this	DET
fbem-26181	86	6	phenomenon	phenomenon	NOUN
fbem-26181	86	7	according	accord	VERB
fbem-26181	86	8	to	to	ADP
fbem-26181	86	9	the	the	DET
fbem-26181	86	10	research	research	NOUN
fbem-26181	86	11	line	line	NOUN
fbem-26181	86	12	:	:	PUNCT
fbem-26181	86	13	on	on	ADP
fbem-26181	86	14	the	the	DET
fbem-26181	86	15	one	one	NUM
fbem-26181	86	16	hand	hand	NOUN
fbem-26181	86	17	,	,	PUNCT
fbem-26181	86	18	the	the	DET
fbem-26181	86	19	current	current	ADJ
fbem-26181	86	20	facially	facially	ADV
fbem-26181	86	21	digital	digital	ADJ
fbem-26181	86	22	finance	finance	NOUN
fbem-26181	86	23	in	in	ADP
fbem-26181	86	24	china	china	PROPN
fbem-26181	86	25	is	be	AUX
fbem-26181	86	26	mainly	mainly	ADV
fbem-26181	86	27	oriented	orient	VERB
fbem-26181	86	28	to	to	ADP
fbem-26181	86	29	the	the	DET
fbem-26181	86	30	objects	object	NOUN
fbem-26181	86	31	of	of	ADP
fbem-26181	86	32	micro	micro	ADJ
fbem-26181	86	33	and	and	CCONJ
fbem-26181	86	34	small	small	ADJ
fbem-26181	86	35	enterprises	enterprise	NOUN
fbem-26181	86	36	,	,	PUNCT
fbem-26181	86	37	low	low	ADJ
fbem-26181	86	38	-	-	PUNCT
fbem-26181	86	39	income	income	NOUN
fbem-26181	86	40	people	people	NOUN
fbem-26181	86	41	,	,	PUNCT
fbem-26181	86	42	the	the	DET
fbem-26181	86	43	disabled	disabled	ADJ
fbem-26181	86	44	groups	group	NOUN
fbem-26181	86	45	and	and	CCONJ
fbem-26181	86	46	so	so	ADV
fbem-26181	86	47	on	on	ADV
fbem-26181	86	48	,	,	PUNCT
fbem-26181	86	49	particularly	particularly	ADV
fbem-26181	86	50	people	people	NOUN
fbem-26181	86	51	or	or	CCONJ
fbem-26181	86	52	organizations	organization	NOUN
fbem-26181	86	53	who	who	PRON
fbem-26181	86	54	are	be	AUX
fbem-26181	86	55	struggling	struggle	VERB
fbem-26181	86	56	for	for	ADP
fbem-26181	86	57	living	live	VERB
fbem-26181	86	58	.	.	PUNCT
fbem-26181	87	1	however	however	ADV
fbem-26181	87	2	,	,	PUNCT
fbem-26181	87	3	the	the	DET
fbem-26181	87	4	sample	sample	NOUN
fbem-26181	87	5	data	datum	NOUN
fbem-26181	87	6	selected	select	VERB
fbem-26181	87	7	in	in	ADP
fbem-26181	87	8	this	this	DET
fbem-26181	87	9	paper	paper	NOUN
fbem-26181	87	10	mainly	mainly	ADV
fbem-26181	87	11	comes	come	VERB
fbem-26181	87	12	from	from	ADP
fbem-26181	87	13	shanghai	shanghai	PROPN
fbem-26181	87	14	and	and	CCONJ
fbem-26181	87	15	shenzhen	shenzhen	PROPN
fbem-26181	87	16	listed	list	VERB
fbem-26181	87	17	non	non	ADJ
fbem-26181	87	18	-	-	ADJ
fbem-26181	87	19	financial	financial	ADJ
fbem-26181	87	20	entity	entity	NOUN
fbem-26181	87	21	enterprises	enterprise	NOUN
fbem-26181	87	22	,	,	PUNCT
fbem-26181	87	23	there	there	PRON
fbem-26181	87	24	is	be	VERB
fbem-26181	87	25	a	a	DET
fbem-26181	87	26	large	large	ADJ
fbem-26181	87	27	gap	gap	NOUN
fbem-26181	87	28	between	between	ADP
fbem-26181	87	29	the	the	DET
fbem-26181	87	30	two	two	NUM
fbem-26181	87	31	.	.	PUNCT
fbem-26181	88	1	on	on	ADP
fbem-26181	88	2	the	the	DET
fbem-26181	88	3	other	other	ADJ
fbem-26181	88	4	hand	hand	NOUN
fbem-26181	88	5	,	,	PUNCT
fbem-26181	88	6	the	the	DET
fbem-26181	88	7	degree	degree	NOUN
fbem-26181	88	8	of	of	ADP
fbem-26181	88	9	comprehensive	comprehensive	ADJ
fbem-26181	88	10	financialization	financialization	NOUN
fbem-26181	88	11	in	in	ADP
fbem-26181	88	12	this	this	DET
fbem-26181	88	13	paper	paper	NOUN
fbem-26181	88	14	is	be	AUX
fbem-26181	88	15	obtained	obtain	VERB
fbem-26181	88	16	from	from	ADP
fbem-26181	88	17	the	the	DET
fbem-26181	88	18	weighted	weighted	ADJ
fbem-26181	88	19	average	average	NOUN
fbem-26181	88	20	,	,	PUNCT
fbem-26181	88	21	and	and	CCONJ
fbem-26181	88	22	the	the	DET
fbem-26181	88	23	financialization	financialization	NOUN
fbem-26181	88	24	of	of	ADP
fbem-26181	88	25	enterprises	enterprise	NOUN
fbem-26181	88	26	with	with	ADP
fbem-26181	88	27	a	a	DET
fbem-26181	88	28	larger	large	ADJ
fbem-26181	88	29	share	share	NOUN
fbem-26181	88	30	of	of	ADP
fbem-26181	88	31	total	total	ADJ
fbem-26181	88	32	assets	asset	NOUN
fbem-26181	88	33	contributes	contribute	VERB
fbem-26181	88	34	to	to	ADP
fbem-26181	88	35	comprehensive	comprehensive	ADJ
fbem-26181	88	36	financialization	financialization	NOUN
fbem-26181	88	37	to	to	ADP
fbem-26181	88	38	a	a	DET
fbem-26181	88	39	higher	high	ADJ
fbem-26181	88	40	degree	degree	NOUN
fbem-26181	88	41	,	,	PUNCT
fbem-26181	88	42	while	while	SCONJ
fbem-26181	88	43	they	they	PRON
fbem-26181	88	44	are	be	AUX
fbem-26181	88	45	not	not	PART
fbem-26181	88	46	the	the	DET
fbem-26181	88	47	service	service	NOUN
fbem-26181	88	48	objects	object	NOUN
fbem-26181	88	49	of	of	ADP
fbem-26181	88	50	inclusive	inclusive	ADJ
fbem-26181	88	51	finance	finance	NOUN
fbem-26181	88	52	.	.	PUNCT
fbem-26181	89	1	in	in	ADP
fbem-26181	89	2	addition	addition	NOUN
fbem-26181	89	3	,	,	PUNCT
fbem-26181	89	4	the	the	DET
fbem-26181	89	5	degree	degree	NOUN
fbem-26181	89	6	of	of	ADP
fbem-26181	89	7	financialization	financialization	NOUN
fbem-26181	89	8	of	of	ADP
fbem-26181	89	9	enterprises	enterprise	NOUN
fbem-26181	89	10	presents	present	VERB
fbem-26181	89	11	a	a	DET
fbem-26181	89	12	negative	negative	ADJ
fbem-26181	89	13	effect	effect	NOUN
fbem-26181	89	14	on	on	ADP
fbem-26181	89	15	regional	regional	ADJ
fbem-26181	89	16	digital	digital	ADJ
fbem-26181	89	17	economic	economic	ADJ
fbem-26181	89	18	development	development	NOUN
fbem-26181	89	19	and	and	CCONJ
fbem-26181	89	20	a	a	DET
fbem-26181	89	21	positive	positive	ADJ
fbem-26181	89	22	effect	effect	NOUN
fbem-26181	89	23	on	on	ADP
fbem-26181	89	24	regional	regional	ADJ
fbem-26181	89	25	digital	digital	ADJ
fbem-26181	89	26	financial	financial	ADJ
fbem-26181	89	27	inclusion	inclusion	NOUN
fbem-26181	89	28	,	,	PUNCT
fbem-26181	89	29	possibly	possibly	ADV
fbem-26181	89	30	because	because	SCONJ
fbem-26181	89	31	other	other	ADJ
fbem-26181	89	32	factors	factor	NOUN
fbem-26181	89	33	in	in	ADP
fbem-26181	89	34	the	the	DET
fbem-26181	89	35	evaluation	evaluation	NOUN
fbem-26181	89	36	system	system	NOUN
fbem-26181	89	37	’s	’s	PART
fbem-26181	89	38	part	part	NOUN
fbem-26181	89	39	of	of	ADP
fbem-26181	89	40	digital	digital	ADJ
fbem-26181	89	41	economy	economy	NOUN
fbem-26181	89	42	are	be	AUX
fbem-26181	89	43	more	more	ADV
fbem-26181	89	44	affected	affected	ADJ
fbem-26181	89	45	.	.	PUNCT
fbem-26181	90	1	variance	variance	NOUN
fbem-26181	90	2	decomposition	decomposition	NOUN
fbem-26181	90	3	and	and	CCONJ
fbem-26181	90	4	granger	granger	NOUN
fbem-26181	90	5	causality	causality	PROPN
fbem-26181	90	6	analysis	analysis	NOUN
fbem-26181	90	7	further	further	ADJ
fbem-26181	90	8	cement	cement	VERB
fbem-26181	90	9	the	the	DET
fbem-26181	90	10	conclusions	conclusion	NOUN
fbem-26181	90	11	on	on	ADP
fbem-26181	90	12	the	the	DET
fbem-26181	90	13	relevance	relevance	NOUN
fbem-26181	90	14	between	between	ADP
fbem-26181	90	15	digital	digital	ADJ
fbem-26181	90	16	economy	economy	NOUN
fbem-26181	90	17	and	and	CCONJ
fbem-26181	90	18	financialization	financialization	NOUN
fbem-26181	90	19	,	,	PUNCT
fbem-26181	90	20	although	although	SCONJ
fbem-26181	90	21	regional	regional	ADJ
fbem-26181	90	22	digital	digital	ADJ
fbem-26181	90	23	economy	economy	NOUN
fbem-26181	90	24	development	development	NOUN
fbem-26181	90	25	exhibits	exhibit	VERB
fbem-26181	90	26	weak	weak	ADJ
fbem-26181	90	27	levels	level	NOUN
fbem-26181	90	28	on	on	ADP
fbem-26181	90	29	the	the	DET
fbem-26181	90	30	degree	degree	NOUN
fbem-26181	90	31	of	of	ADP
fbem-26181	90	32	financial	financial	ADJ
fbem-26181	90	33	inclusion	inclusion	NOUN
fbem-26181	90	34	and	and	CCONJ
fbem-26181	90	35	enterprise	enterprise	NOUN
fbem-26181	90	36	financialization	financialization	NOUN
fbem-26181	90	37	.	.	PUNCT
fbem-26181	91	1	this	this	DET
fbem-26181	91	2	paper	paper	NOUN
fbem-26181	91	3	constructs	construct	VERB
fbem-26181	91	4	a	a	DET
fbem-26181	91	5	mathematical	mathematical	ADJ
fbem-26181	91	6	model	model	NOUN
fbem-26181	91	7	for	for	ADP
fbem-26181	91	8	predicting	predict	VERB
fbem-26181	91	9	and	and	CCONJ
fbem-26181	91	10	measuring	measure	VERB
fbem-26181	91	11	the	the	DET
fbem-26181	91	12	degree	degree	NOUN
fbem-26181	91	13	of	of	ADP
fbem-26181	91	14	financialization	financialization	NOUN
fbem-26181	91	15	of	of	ADP
fbem-26181	91	16	real	real	ADJ
fbem-26181	91	17	enterprises	enterprise	NOUN
fbem-26181	91	18	,	,	PUNCT
fbem-26181	91	19	so	so	SCONJ
fbem-26181	91	20	as	as	SCONJ
fbem-26181	91	21	to	to	PART
fbem-26181	91	22	explore	explore	VERB
fbem-26181	91	23	the	the	DET
fbem-26181	91	24	interaction	interaction	NOUN
fbem-26181	91	25	and	and	CCONJ
fbem-26181	91	26	transmission	transmission	NOUN
fbem-26181	91	27	mechanism	mechanism	NOUN
fbem-26181	91	28	between	between	ADP
fbem-26181	91	29	the	the	DET
fbem-26181	91	30	digital	digital	ADJ
fbem-26181	91	31	economy	economy	NOUN
fbem-26181	91	32	and	and	CCONJ
fbem-26181	91	33	the	the	DET
fbem-26181	91	34	financial	financial	ADJ
fbem-26181	91	35	economy	economy	NOUN
fbem-26181	91	36	,	,	PUNCT
fbem-26181	91	37	which	which	PRON
fbem-26181	91	38	is	be	AUX
fbem-26181	91	39	conducive	conducive	ADJ
fbem-26181	91	40	to	to	ADP
fbem-26181	91	41	providing	provide	VERB
fbem-26181	91	42	certain	certain	ADJ
fbem-26181	91	43	reference	reference	NOUN
fbem-26181	91	44	significance	significance	NOUN
fbem-26181	91	45	for	for	ADP
fbem-26181	91	46	other	other	ADJ
fbem-26181	91	47	studies	study	NOUN
fbem-26181	91	48	on	on	ADP
fbem-26181	91	49	the	the	DET
fbem-26181	91	50	interrelationship	interrelationship	NOUN
fbem-26181	91	51	between	between	ADP
fbem-26181	91	52	the	the	DET
fbem-26181	91	53	real	real	ADJ
fbem-26181	91	54	economy	economy	NOUN
fbem-26181	91	55	and	and	CCONJ
fbem-26181	91	56	the	the	DET
fbem-26181	91	57	virtual	virtual	ADJ
fbem-26181	91	58	economy	economy	NOUN
fbem-26181	91	59	,	,	PUNCT
fbem-26181	91	60	and	and	CCONJ
fbem-26181	91	61	helps	help	VERB
fbem-26181	91	62	to	to	PART
fbem-26181	91	63	provide	provide	VERB
fbem-26181	91	64	certain	certain	ADJ
fbem-26181	91	65	guidance	guidance	NOUN
fbem-26181	91	66	for	for	ADP
fbem-26181	91	67	the	the	DET
fbem-26181	91	68	formulation	formulation	NOUN
fbem-26181	91	69	of	of	ADP
fbem-26181	91	70	the	the	DET
fbem-26181	91	71	management	management	NOUN
fbem-26181	91	72	system	system	NOUN
fbem-26181	91	73	by	by	ADP
fbem-26181	91	74	the	the	DET
fbem-26181	91	75	financial	financial	ADJ
fbem-26181	91	76	regulatory	regulatory	ADJ
fbem-26181	91	77	authorities	authority	NOUN
fbem-26181	91	78	,	,	PUNCT
fbem-26181	91	79	and	and	CCONJ
fbem-26181	91	80	for	for	ADP
fbem-26181	91	81	the	the	DET
fbem-26181	91	82	selection	selection	NOUN
fbem-26181	91	83	of	of	ADP
fbem-26181	91	84	investment	investment	NOUN
fbem-26181	91	85	decisions	decision	NOUN
fbem-26181	91	86	which	which	PRON
fbem-26181	91	87	are	be	AUX
fbem-26181	91	88	accessible	accessible	ADJ
fbem-26181	91	89	for	for	ADP
fbem-26181	91	90	the	the	DET
fbem-26181	91	91	real	real	ADJ
fbem-26181	91	92	enterprises	enterprise	NOUN
fbem-26181	91	93	to	to	PART
fbem-26181	91	94	meet	meet	VERB
fbem-26181	91	95	the	the	DET
fbem-26181	91	96	needs	need	NOUN
fbem-26181	91	97	of	of	ADP
fbem-26181	91	98	their	their	PRON
fbem-26181	91	99	main	main	ADJ
fbem-26181	91	100	business	business	NOUN
fbem-26181	91	101	,	,	PUNCT
fbem-26181	91	102	which	which	PRON
fbem-26181	91	103	can	can	AUX
fbem-26181	91	104	help	help	VERB
fbem-26181	91	105	to	to	PART
fbem-26181	91	106	alleviate	alleviate	VERB
fbem-26181	91	107	the	the	DET
fbem-26181	91	108	"	"	PUNCT
fbem-26181	91	109	de	de	NOUN
fbem-26181	91	110	-	-	NOUN
fbem-26181	91	111	realization	realization	NOUN
fbem-26181	91	112	"	"	PUNCT
fbem-26181	91	113	and	and	CCONJ
fbem-26181	91	114	financialization	financialization	NOUN
fbem-26181	91	115	.	.	PUNCT
fbem-26181	92	1	this	this	PRON
fbem-26181	92	2	will	will	AUX
fbem-26181	92	3	help	help	VERB
fbem-26181	92	4	to	to	PART
fbem-26181	92	5	alleviate	alleviate	VERB
fbem-26181	92	6	the	the	DET
fbem-26181	92	7	phenomenon	phenomenon	NOUN
fbem-26181	92	8	of	of	ADP
fbem-26181	92	9	the	the	DET
fbem-26181	92	10	"	"	PUNCT
fbem-26181	92	11	deconstruction	deconstruction	NOUN
fbem-26181	92	12	to	to	ADP
fbem-26181	92	13	virtualization	virtualization	NOUN
fbem-26181	92	14	"	"	PUNCT
fbem-26181	92	15	of	of	ADP
fbem-26181	92	16	the	the	DET
fbem-26181	92	17	economy	economy	NOUN
fbem-26181	92	18	,	,	PUNCT
fbem-26181	92	19	thereby	thereby	ADV
fbem-26181	92	20	supporting	support	VERB
fbem-26181	92	21	the	the	DET
fbem-26181	92	22	advocates	advocate	NOUN
fbem-26181	92	23	for	for	ADP
fbem-26181	92	24	integrating	integrate	VERB
fbem-26181	92	25	the	the	DET
fbem-26181	92	26	real	real	ADJ
fbem-26181	92	27	economy	economy	NOUN
fbem-26181	92	28	and	and	CCONJ
fbem-26181	92	29	the	the	DET
fbem-26181	92	30	virtual	virtual	ADJ
fbem-26181	92	31	economy	economy	NOUN
fbem-26181	92	32	to	to	PART
fbem-26181	92	33	chase	chase	VERB
fbem-26181	92	34	better	well	ADJ
fbem-26181	92	35	development	development	NOUN
fbem-26181	92	36	.	.	PUNCT
fbem-26181	93	1	references	reference	NOUN
fbem-26181	93	2	[	[	X
fbem-26181	93	3	1	1	NUM
fbem-26181	93	4	]	]	X
fbem-26181	93	5	ozcelebi	ozcelebi	NOUN
fbem-26181	93	6	,	,	PUNCT
fbem-26181	93	7	o.	o.	NOUN
fbem-26181	93	8	(	(	PUNCT
fbem-26181	93	9	2018	2018	NUM
fbem-26181	93	10	)	)	PUNCT
fbem-26181	93	11	impacts	impact	NOUN
fbem-26181	93	12	of	of	ADP
fbem-26181	93	13	exchange	exchange	NOUN
fbem-26181	93	14	rate	rate	NOUN
fbem-26181	93	15	volatility	volatility	NOUN
fbem-26181	93	16	on	on	ADP
fbem-26181	93	17	macroeconomic	macroeconomic	ADJ
fbem-26181	93	18	and	and	CCONJ
fbem-26181	93	19	financial	financial	ADJ
fbem-26181	93	20	variables	variable	NOUN
fbem-26181	93	21	:	:	PUNCT
fbem-26181	93	22	empirical	empirical	ADJ
fbem-26181	93	23	evidence	evidence	NOUN
fbem-26181	93	24	from	from	ADP
fbem-26181	93	25	pvar	pvar	PROPN
fbem-26181	93	26	modeling	modeling	NOUN
fbem-26181	93	27	.	.	PUNCT
fbem-26181	94	1	trade	trade	NOUN
fbem-26181	94	2	and	and	CCONJ
fbem-26181	94	3	global	global	ADJ
fbem-26181	94	4	market	market	NOUN
fbem-26181	94	5	,	,	PUNCT
fbem-26181	94	6	10	10	NUM
fbem-26181	94	7	:	:	SYM
fbem-26181	94	8	101	101	NUM
fbem-26181	94	9	-	-	SYM
fbem-26181	94	10	113	113	NUM
fbem-26181	94	11	.	.	PUNCT
fbem-26181	95	1	[	[	X
fbem-26181	95	2	2	2	NUM
fbem-26181	95	3	]	]	PUNCT
fbem-26181	95	4	apostolakis	apostolakis	PROPN
fbem-26181	95	5	,	,	PUNCT
fbem-26181	95	6	g.	g.	PROPN
fbem-26181	95	7	,	,	PUNCT
fbem-26181	95	8	papadopoulos	papadopoulos	PROPN
fbem-26181	95	9	,	,	PUNCT
fbem-26181	95	10	a.p	a.p	PROPN
fbem-26181	95	11	.	.	PROPN
fbem-26181	95	12	(	(	PUNCT
fbem-26181	95	13	2018	2018	NUM
fbem-26181	95	14	)	)	PUNCT
fbem-26181	95	15	financial	financial	ADJ
fbem-26181	95	16	stability	stability	NOUN
fbem-26181	95	17	,	,	PUNCT
fbem-26181	95	18	monetary	monetary	ADJ
fbem-26181	95	19	stability	stability	NOUN
fbem-26181	95	20	and	and	CCONJ
fbem-26181	95	21	growth	growth	NOUN
fbem-26181	95	22	:	:	PUNCT
fbem-26181	95	23	a	a	DET
fbem-26181	95	24	pvar	pvar	ADJ
fbem-26181	95	25	analysis	analysis	NOUN
fbem-26181	95	26	.	.	PUNCT
fbem-26181	96	1	open	open	ADJ
fbem-26181	96	2	economic	economic	ADJ
fbem-26181	96	3	review	review	NOUN
fbem-26181	96	4	,	,	PUNCT
fbem-26181	96	5	18	18	NUM
fbem-26181	96	6	:	:	SYM
fbem-26181	96	7	107	107	NUM
fbem-26181	96	8	-	-	SYM
fbem-26181	96	9	126	126	NUM
fbem-26181	96	10	.	.	PUNCT
fbem-26181	97	1	[	[	X
fbem-26181	97	2	3	3	X
fbem-26181	97	3	]	]	PUNCT
fbem-26181	97	4	xinlan	xinlan	PROPN
fbem-26181	97	5	liu	liu	PROPN
fbem-26181	97	6	.	.	PUNCT
fbem-26181	98	1	(	(	PUNCT
fbem-26181	98	2	2022	2022	NUM
fbem-26181	98	3	)	)	PUNCT
fbem-26181	98	4	study	study	NOUN
fbem-26181	98	5	on	on	ADP
fbem-26181	98	6	how	how	SCONJ
fbem-26181	98	7	digital	digital	ADJ
fbem-26181	98	8	finance	finance	NOUN
fbem-26181	98	9	affect	affect	VERB
fbem-26181	98	10	growth	growth	NOUN
fbem-26181	98	11	of	of	ADP
fbem-26181	98	12	small	small	ADJ
fbem-26181	98	13	and	and	CCONJ
fbem-26181	98	14	micro	micro	ADJ
fbem-26181	98	15	enterprises	enterprise	NOUN
fbem-26181	98	16	in	in	ADP
fbem-26181	98	17	manufacturing	manufacture	VERB
fbem-26181	98	18	industry	industry	NOUN
fbem-26181	98	19	based	base	VERB
fbem-26181	98	20	on	on	ADP
fbem-26181	98	21	the	the	DET
fbem-26181	98	22	perspective	perspective	NOUN
fbem-26181	98	23	of	of	ADP
fbem-26181	98	24	enterprise	enterprise	NOUN
fbem-26181	98	25	financialization	financialization	NOUN
fbem-26181	98	26	.	.	PUNCT
fbem-26181	99	1	in	in	ADP
fbem-26181	99	2	:	:	PUNCT
fbem-26181	99	3	the	the	DET
fbem-26181	99	4	international	international	ADJ
fbem-26181	99	5	conference	conference	NOUN
fbem-26181	99	6	on	on	ADP
fbem-26181	99	7	economic	economic	ADJ
fbem-26181	99	8	management	management	NOUN
fbem-26181	99	9	and	and	CCONJ
fbem-26181	99	10	model	model	NOUN
fbem-26181	99	11	engineering	engineering	NOUN
fbem-26181	99	12	.	.	PUNCT
fbem-26181	100	1	nan	nan	PROPN
fbem-26181	100	2	jing	jing	PROPN
fbem-26181	100	3	.	.	PUNCT
fbem-26181	101	1	295	295	NUM
fbem-26181	101	2	-	-	SYM
fbem-26181	101	3	300	300	NUM
fbem-26181	101	4	.	.	PUNCT
fbem-26181	102	1	[	[	X
fbem-26181	102	2	4	4	X
fbem-26181	102	3	]	]	PUNCT
fbem-26181	102	4	yiping	yip	VERB
fbem-26181	102	5	chai	chai	NOUN
fbem-26181	102	6	,	,	PUNCT
fbem-26181	102	7	yufan	yufan	PROPN
fbem-26181	102	8	wang	wang	PROPN
fbem-26181	102	9	,	,	PUNCT
fbem-26181	102	10	jiayi	jiayi	PROPN
fbem-26181	102	11	zhang	zhang	PROPN
fbem-26181	102	12	.	.	PUNCT
fbem-26181	103	1	(	(	PUNCT
fbem-26181	103	2	2022	2022	NUM
fbem-26181	103	3	)	)	PUNCT
fbem-26181	103	4	the	the	DET
fbem-26181	103	5	digital	digital	ADJ
fbem-26181	103	6	economy	economy	NOUN
fbem-26181	103	7	and	and	CCONJ
fbem-26181	103	8	degree	degree	NOUN
fbem-26181	103	9	of	of	ADP
fbem-26181	103	10	corporate	corporate	ADJ
fbem-26181	103	11	financialization	financialization	NOUN
fbem-26181	103	12	:	:	PUNCT
fbem-26181	103	13	evidence	evidence	NOUN
fbem-26181	103	14	from	from	ADP
fbem-26181	103	15	china	china	PROPN
fbem-26181	103	16	’s	’s	PART
fbem-26181	103	17	listed	list	VERB
fbem-26181	103	18	companies	company	NOUN
fbem-26181	103	19	.	.	PUNCT
fbem-26181	104	1	in	in	ADP
fbem-26181	104	2	:	:	PUNCT
fbem-26181	104	3	international	international	ADJ
fbem-26181	104	4	conference	conference	NOUN
fbem-26181	104	5	on	on	ADP
fbem-26181	104	6	financial	financial	ADJ
fbem-26181	104	7	economics	economic	NOUN
fbem-26181	104	8	and	and	CCONJ
fbem-26181	104	9	investment	investment	NOUN
fbem-26181	104	10	management	management	NOUN
fbem-26181	104	11	.	.	PUNCT
fbem-26181	105	1	bei	bei	PROPN
fbem-26181	105	2	jing	jing	PROPN
fbem-26181	105	3	.	.	PUNCT
fbem-26181	106	1	393	393	NUM
fbem-26181	106	2	-	-	SYM
fbem-26181	106	3	400	400	NUM
fbem-26181	106	4	.	.	PUNCT
fbem-26181	107	1	[	[	X
fbem-26181	107	2	5	5	X
fbem-26181	107	3	]	]	PUNCT
fbem-26181	107	4	xue	xue	PROPN
fbem-26181	107	5	gao	gao	PROPN
fbem-26181	107	6	,	,	PUNCT
fbem-26181	107	7	yixin	yixin	PROPN
fbem-26181	107	8	ren	ren	PROPN
fbem-26181	107	9	.	.	PUNCT
fbem-26181	107	10	(	(	PUNCT
fbem-26181	107	11	2023	2023	NUM
fbem-26181	107	12	)	)	PUNCT
fbem-26181	107	13	the	the	DET
fbem-26181	107	14	impact	impact	NOUN
fbem-26181	107	15	of	of	ADP
fbem-26181	107	16	digital	digital	ADJ
fbem-26181	107	17	finance	finance	NOUN
fbem-26181	107	18	on	on	ADP
fbem-26181	107	19	smes	sme	NOUN
fbem-26181	107	20	financialization	financialization	NOUN
fbem-26181	107	21	:	:	PUNCT
fbem-26181	107	22	evidence	evidence	NOUN
fbem-26181	107	23	from	from	ADP
fbem-26181	107	24	thirty	thirty	NUM
fbem-26181	107	25	million	million	NUM
fbem-26181	107	26	chinese	chinese	ADJ
fbem-26181	107	27	enterprise	enterprise	NOUN
fbem-26181	107	28	registrations	registration	NOUN
fbem-26181	107	29	.	.	PUNCT
fbem-26181	108	1	heliyon	heliyon	NOUN
fbem-26181	108	2	,	,	PUNCT
fbem-26181	108	3	9	9	NUM
fbem-26181	108	4	:	:	SYM
fbem-26181	108	5	1	1	NUM
fbem-26181	108	6	-	-	SYM
fbem-26181	108	7	14	14	NUM
fbem-26181	108	8	.	.	PUNCT
fbem-26181	109	1	[	[	X
fbem-26181	109	2	6	6	NUM
fbem-26181	109	3	]	]	PUNCT
fbem-26181	109	4	shuyu	shuyu	PROPN
fbem-26181	109	5	shi	shi	PROPN
fbem-26181	109	6	.	.	PUNCT
fbem-26181	110	1	(	(	PUNCT
fbem-26181	110	2	2023	2023	NUM
fbem-26181	110	3	)	)	PUNCT
fbem-26181	110	4	the	the	DET
fbem-26181	110	5	impact	impact	NOUN
fbem-26181	110	6	of	of	ADP
fbem-26181	110	7	digital	digital	ADJ
fbem-26181	110	8	economy	economy	NOUN
fbem-26181	110	9	development	development	NOUN
fbem-26181	110	10	on	on	ADP
fbem-26181	110	11	the	the	DET
fbem-26181	110	12	financialization	financialization	NOUN
fbem-26181	110	13	level	level	NOUN
fbem-26181	110	14	of	of	ADP
fbem-26181	110	15	enterprises	enterprise	NOUN
fbem-26181	110	16	:	:	PUNCT
fbem-26181	110	17	a	a	DET
fbem-26181	110	18	study	study	NOUN
fbem-26181	110	19	based	base	VERB
fbem-26181	110	20	on	on	ADP
fbem-26181	110	21	listed	list	VERB
fbem-26181	110	22	enterprises	enterprise	NOUN
fbem-26181	110	23	in	in	ADP
fbem-26181	110	24	china	china	PROPN
fbem-26181	110	25	.	.	PUNCT
fbem-26181	111	1	the	the	DET
fbem-26181	111	2	business	business	NOUN
fbem-26181	111	3	circulate	circulate	VERB
fbem-26181	111	4	,	,	PUNCT
fbem-26181	111	5	10	10	NUM
fbem-26181	111	6	:	:	SYM
fbem-26181	111	7	15	15	NUM
fbem-26181	111	8	-	-	SYM
fbem-26181	111	9	18	18	NUM
fbem-26181	111	10	.	.	PUNCT
fbem-26181	112	1	[	[	X
fbem-26181	112	2	7	7	X
fbem-26181	112	3	]	]	X
fbem-26181	112	4	yifeng	yifeng	PROPN
fbem-26181	112	5	wen	wen	PROPN
fbem-26181	112	6	,	,	PUNCT
fbem-26181	112	7	keyong	keyong	PROPN
fbem-26181	112	8	zhang	zhang	PROPN
fbem-26181	112	9	,	,	PUNCT
fbem-26181	112	10	han	han	PROPN
fbem-26181	112	11	dong	dong	PROPN
fbem-26181	112	12	.	.	PUNCT
fbem-26181	113	1	(	(	PUNCT
fbem-26181	113	2	2024	2024	NUM
fbem-26181	113	3	)	)	PUNCT
fbem-26181	113	4	the	the	DET
fbem-26181	113	5	impact	impact	NOUN
fbem-26181	113	6	of	of	ADP
fbem-26181	113	7	technology	technology	NOUN
fbem-26181	113	8	finance	finance	NOUN
fbem-26181	113	9	on	on	ADP
fbem-26181	113	10	the	the	DET
fbem-26181	113	11	financialization	financialization	NOUN
fbem-26181	113	12	of	of	ADP
fbem-26181	113	13	real	real	ADJ
fbem-26181	113	14	firms	firm	NOUN
fbem-26181	113	15	:	:	PUNCT
fbem-26181	113	16	intermediation	intermediation	NOUN
fbem-26181	113	17	effects	effect	NOUN
fbem-26181	113	18	based	base	VERB
fbem-26181	113	19	on	on	ADP
fbem-26181	113	20	financial	financial	ADJ
fbem-26181	113	21	constraints	constraint	NOUN
fbem-26181	113	22	.	.	PUNCT
fbem-26181	114	1	journal	journal	NOUN
fbem-26181	114	2	of	of	ADP
fbem-26181	114	3	north	north	PROPN
fbem-26181	114	4	university	university	PROPN
fbem-26181	114	5	of	of	ADP
fbem-26181	114	6	china	china	PROPN
fbem-26181	114	7	(	(	PUNCT
fbem-26181	114	8	social	social	ADJ
fbem-26181	114	9	science	science	NOUN
fbem-26181	114	10	edition	edition	PROPN
fbem-26181	114	11	)	)	PUNCT
fbem-26181	114	12	,	,	PUNCT
fbem-26181	114	13	194	194	NUM
fbem-26181	114	14	:	:	SYM
fbem-26181	114	15	4653	4653	NUM
fbem-26181	114	16	.	.	PUNCT
fbem-26181	115	1	[	[	X
fbem-26181	115	2	8	8	NUM
fbem-26181	115	3	]	]	X
fbem-26181	115	4	yongkui	yongkui	PROPN
fbem-26181	115	5	du	du	PROPN
fbem-26181	115	6	,	,	PUNCT
fbem-26181	115	7	yuqi	yuqi	PROPN
fbem-26181	115	8	wang	wang	PROPN
fbem-26181	115	9	.	.	PUNCT
fbem-26181	116	1	(	(	PUNCT
fbem-26181	116	2	2024	2024	NUM
fbem-26181	116	3	)	)	PUNCT
fbem-26181	116	4	exploring	explore	VERB
fbem-26181	116	5	the	the	DET
fbem-26181	116	6	micro	micro	NOUN
fbem-26181	116	7	-	-	NOUN
fbem-26181	116	8	path	path	NOUN
fbem-26181	116	9	of	of	ADP
fbem-26181	116	10	financial	financial	ADJ
fbem-26181	116	11	services	service	NOUN
fbem-26181	116	12	to	to	ADP
fbem-26181	116	13	the	the	DET
fbem-26181	116	14	real	real	ADJ
fbem-26181	116	15	economy	economy	NOUN
fbem-26181	116	16	:	:	PUNCT
fbem-26181	116	17	a	a	DET
fbem-26181	116	18	literature	literature	NOUN
fbem-26181	116	19	review	review	NOUN
fbem-26181	116	20	based	base	VERB
fbem-26181	116	21	on	on	ADP
fbem-26181	116	22	the	the	DET
fbem-26181	116	23	financialization	financialization	NOUN
fbem-26181	116	24	of	of	ADP
fbem-26181	116	25	enterprises	enterprise	NOUN
fbem-26181	116	26	.	.	PUNCT
fbem-26181	117	1	journal	journal	NOUN
fbem-26181	117	2	of	of	ADP
fbem-26181	117	3	lanzhou	lanzhou	PROPN
fbem-26181	117	4	university	university	PROPN
fbem-26181	117	5	of	of	ADP
fbem-26181	117	6	finance	finance	NOUN
fbem-26181	117	7	and	and	CCONJ
fbem-26181	117	8	economics	economic	NOUN
fbem-26181	117	9	,	,	PUNCT
fbem-26181	117	10	62	62	NUM
fbem-26181	117	11	:	:	SYM
fbem-26181	117	12	24	24	NUM
fbem-26181	117	13	-	-	SYM
fbem-26181	117	14	35	35	NUM
fbem-26181	117	15	.	.	PUNCT
fbem-26181	118	1	132	132	NUM
fbem-26181	119	1	[	[	X
fbem-26181	119	2	9	9	NUM
fbem-26181	119	3	]	]	X
fbem-26181	119	4	chengsi	chengsi	PROPN
fbem-26181	119	5	zhang	zhang	PROPN
fbem-26181	119	6	,	,	PUNCT
fbem-26181	119	7	butan	butan	PROPN
fbem-26181	119	8	zhang	zhang	PROPN
fbem-26181	119	9	.	.	PUNCT
fbem-26181	120	1	(	(	PUNCT
fbem-26181	120	2	2015	2015	NUM
fbem-26181	120	3	)	)	PUNCT
fbem-26181	120	4	finance	finance	NOUN
fbem-26181	120	5	and	and	CCONJ
fbem-26181	120	6	the	the	DET
fbem-26181	120	7	real	real	ADJ
fbem-26181	120	8	economy	economy	NOUN
fbem-26181	120	9	revisited	revisit	VERB
fbem-26181	120	10	:	:	PUNCT
fbem-26181	120	11	a	a	DET
fbem-26181	120	12	financialization	financialization	NOUN
fbem-26181	120	13	of	of	ADP
fbem-26181	120	14	the	the	DET
fbem-26181	120	15	economy	economy	NOUN
fbem-26181	120	16	perspective	perspective	NOUN
fbem-26181	120	17	.	.	PUNCT
fbem-26181	121	1	economic	economic	ADJ
fbem-26181	121	2	perspectives	perspective	NOUN
fbem-26181	121	3	,	,	PUNCT
fbem-26181	121	4	6	6	NUM
fbem-26181	121	5	:	:	SYM
fbem-26181	121	6	56	56	NUM
fbem-26181	121	7	-	-	SYM
fbem-26181	121	8	66	66	NUM
fbem-26181	121	9	.	.	PUNCT
fbem-26181	122	1	[	[	X
fbem-26181	122	2	10	10	NUM
fbem-26181	122	3	]	]	PUNCT
fbem-26181	122	4	zhujun	zhujun	PROPN
fbem-26181	122	5	zhu	zhu	PROPN
fbem-26181	122	6	,	,	PUNCT
fbem-26181	122	7	yiming	yiming	PROPN
fbem-26181	122	8	yuan	yuan	PROPN
fbem-26181	122	9	,	,	PUNCT
fbem-26181	122	10	ming	ming	PROPN
fbem-26181	122	11	xu	xu	PROPN
fbem-26181	122	12	,	,	PUNCT
fbem-26181	122	13	binfeng	binfeng	NOUN
fbem-26181	122	14	chai	chai	NOUN
fbem-26181	122	15	.	.	PUNCT
fbem-26181	123	1	(	(	PUNCT
fbem-26181	123	2	2024	2024	NUM
fbem-26181	123	3	)	)	PUNCT
fbem-26181	123	4	digital	digital	ADJ
fbem-26181	123	5	finance	finance	NOUN
fbem-26181	123	6	,	,	PUNCT
fbem-26181	123	7	path	path	NOUN
fbem-26181	123	8	breakthroughs	breakthrough	NOUN
fbem-26181	123	9	and	and	CCONJ
fbem-26181	123	10	high	high	ADJ
fbem-26181	123	11	-	-	PUNCT
fbem-26181	123	12	quality	quality	NOUN
fbem-26181	123	13	innovation	innovation	NOUN
fbem-26181	123	14	in	in	ADP
fbem-26181	123	15	manufacturing	manufacturing	NOUN
fbem-26181	123	16	:	:	PUNCT
fbem-26181	123	17	an	an	DET
fbem-26181	123	18	introduction	introduction	NOUN
fbem-26181	123	19	to	to	ADP
fbem-26181	123	20	the	the	DET
fbem-26181	123	21	innovation	innovation	NOUN
fbem-26181	123	22	-	-	PUNCT
fbem-26181	123	23	driven	drive	VERB
fbem-26181	123	24	path	path	NOUN
fbem-26181	123	25	of	of	ADP
fbem-26181	123	26	financial	financial	ADJ
fbem-26181	123	27	services	service	NOUN
fbem-26181	123	28	to	to	ADP
fbem-26181	123	29	the	the	DET
fbem-26181	123	30	real	real	ADJ
fbem-26181	123	31	economy	economy	NOUN
fbem-26181	123	32	.	.	PUNCT
fbem-26181	124	1	journal	journal	PROPN
fbem-26181	124	2	of	of	ADP
fbem-26181	124	3	quantitative	quantitative	ADJ
fbem-26181	124	4	&	&	CCONJ
fbem-26181	124	5	technological	technological	ADJ
fbem-26181	124	6	economics	economic	NOUN
fbem-26181	124	7	,	,	PUNCT
fbem-26181	124	8	41(04	41(04	NOUN
fbem-26181	124	9	):	):	PUNCT
fbem-26181	124	10	68	68	NUM
fbem-26181	124	11	-	-	SYM
fbem-26181	124	12	88	88	NUM
fbem-26181	124	13	.	.	PUNCT