id	sid	tid	token	lemma	pos
fbem-27778	1	1	frontiers	frontier	NOUN
fbem-27778	1	2	in	in	ADP
fbem-27778	1	3	business	business	NOUN
fbem-27778	1	4	,	,	PUNCT
fbem-27778	1	5	economics	economic	NOUN
fbem-27778	1	6	and	and	CCONJ
fbem-27778	1	7	management	management	NOUN
fbem-27778	1	8	issn	issn	PROPN
fbem-27778	1	9	:	:	PUNCT
fbem-27778	1	10	2766	2766	NUM
fbem-27778	1	11	-	-	PUNCT
fbem-27778	1	12	824x	824x	NUM
fbem-27778	1	13	|	|	ADJ
fbem-27778	1	14	vol	vol	NOUN
fbem-27778	1	15	.	.	PROPN
fbem-27778	1	16	17	17	NUM
fbem-27778	1	17	,	,	PUNCT
fbem-27778	1	18	no	no	INTJ
fbem-27778	1	19	.	.	NOUN
fbem-27778	1	20	2	2	NUM
fbem-27778	1	21	,	,	PUNCT
fbem-27778	1	22	2024	2024	NUM
fbem-27778	1	23	450	450	NUM
fbem-27778	1	24	research	research	NOUN
fbem-27778	1	25	on	on	ADP
fbem-27778	1	26	default	default	NOUN
fbem-27778	1	27	risk	risk	NOUN
fbem-27778	1	28	of	of	ADP
fbem-27778	1	29	urban	urban	ADJ
fbem-27778	1	30	investment	investment	NOUN
fbem-27778	1	31	bonds	bond	NOUN
fbem-27778	1	32	based	base	VERB
fbem-27778	1	33	on	on	ADP
fbem-27778	1	34	multi	multi	ADJ
fbem-27778	1	35	-	-	ADJ
fbem-27778	1	36	factor	factor	NOUN
fbem-27778	1	37	model	model	NOUN
fbem-27778	1	38	and	and	CCONJ
fbem-27778	1	39	kmv	kmv	NOUN
fbem-27778	1	40	model	model	NOUN
fbem-27778	1	41	-take	-take	PROPN
fbem-27778	1	42	shanghai	shanghai	PROPN
fbem-27778	1	43	as	as	ADP
fbem-27778	1	44	an	an	DET
fbem-27778	1	45	example	example	NOUN
fbem-27778	1	46	zixuan	zixuan	PROPN
fbem-27778	1	47	gao	gao	PROPN
fbem-27778	1	48	school	school	PROPN
fbem-27778	1	49	of	of	ADP
fbem-27778	1	50	event	event	NOUN
fbem-27778	1	51	and	and	CCONJ
fbem-27778	1	52	communication	communication	NOUN
fbem-27778	1	53	&	&	CCONJ
fbem-27778	1	54	finance	finance	PROPN
fbem-27778	1	55	management	management	NOUN
fbem-27778	1	56	school	school	NOUN
fbem-27778	1	57	,	,	PUNCT
fbem-27778	1	58	shanghai	shanghai	PROPN
fbem-27778	1	59	university	university	PROPN
fbem-27778	1	60	of	of	ADP
fbem-27778	1	61	international	international	PROPN
fbem-27778	1	62	business	business	NOUN
fbem-27778	1	63	and	and	CCONJ
fbem-27778	1	64	economics	economic	NOUN
fbem-27778	1	65	,	,	PUNCT
fbem-27778	1	66	shanghai	shanghai	PROPN
fbem-27778	1	67	,	,	PUNCT
fbem-27778	1	68	201620	201620	NUM
fbem-27778	1	69	,	,	PUNCT
fbem-27778	1	70	china	china	PROPN
fbem-27778	1	71	hsuan.gao@foxmail.com	hsuan.gao@foxmail.com	PROPN
fbem-27778	1	72	abstract	abstract	PROPN
fbem-27778	1	73	:	:	PUNCT
fbem-27778	1	74	with	with	ADP
fbem-27778	1	75	the	the	DET
fbem-27778	1	76	acceleration	acceleration	NOUN
fbem-27778	1	77	of	of	ADP
fbem-27778	1	78	urbanization	urbanization	NOUN
fbem-27778	1	79	in	in	ADP
fbem-27778	1	80	china	china	PROPN
fbem-27778	1	81	,	,	PUNCT
fbem-27778	1	82	the	the	DET
fbem-27778	1	83	urban	urban	ADJ
fbem-27778	1	84	investment	investment	NOUN
fbem-27778	1	85	bond	bond	NOUN
fbem-27778	1	86	market	market	NOUN
fbem-27778	1	87	is	be	AUX
fbem-27778	1	88	facing	face	VERB
fbem-27778	1	89	increasing	increase	VERB
fbem-27778	1	90	risks	risk	NOUN
fbem-27778	1	91	and	and	CCONJ
fbem-27778	1	92	challenges	challenge	NOUN
fbem-27778	1	93	while	while	SCONJ
fbem-27778	1	94	providing	provide	VERB
fbem-27778	1	95	financial	financial	ADJ
fbem-27778	1	96	support	support	NOUN
fbem-27778	1	97	for	for	ADP
fbem-27778	1	98	infrastructure	infrastructure	NOUN
fbem-27778	1	99	construction	construction	NOUN
fbem-27778	1	100	.	.	PUNCT
fbem-27778	2	1	aiming	aim	VERB
fbem-27778	2	2	at	at	ADP
fbem-27778	2	3	the	the	DET
fbem-27778	2	4	complexity	complexity	NOUN
fbem-27778	2	5	and	and	CCONJ
fbem-27778	2	6	uncertainty	uncertainty	NOUN
fbem-27778	2	7	of	of	ADP
fbem-27778	2	8	the	the	DET
fbem-27778	2	9	market	market	NOUN
fbem-27778	2	10	,	,	PUNCT
fbem-27778	2	11	the	the	DET
fbem-27778	2	12	study	study	NOUN
fbem-27778	2	13	aims	aim	VERB
fbem-27778	2	14	to	to	PART
fbem-27778	2	15	improve	improve	VERB
fbem-27778	2	16	the	the	DET
fbem-27778	2	17	accuracy	accuracy	NOUN
fbem-27778	2	18	and	and	CCONJ
fbem-27778	2	19	applicability	applicability	NOUN
fbem-27778	2	20	of	of	ADP
fbem-27778	2	21	risk	risk	NOUN
fbem-27778	2	22	measurement	measurement	NOUN
fbem-27778	2	23	through	through	ADP
fbem-27778	2	24	model	model	NOUN
fbem-27778	2	25	fusion	fusion	NOUN
fbem-27778	2	26	.	.	PUNCT
fbem-27778	3	1	this	this	DET
fbem-27778	3	2	study	study	NOUN
fbem-27778	3	3	will	will	AUX
fbem-27778	3	4	comprehensively	comprehensively	ADV
fbem-27778	3	5	consider	consider	VERB
fbem-27778	3	6	market	market	NOUN
fbem-27778	3	7	factors	factor	NOUN
fbem-27778	3	8	,	,	PUNCT
fbem-27778	3	9	company	company	NOUN
fbem-27778	3	10	financial	financial	ADJ
fbem-27778	3	11	situation	situation	NOUN
fbem-27778	3	12	and	and	CCONJ
fbem-27778	3	13	macroeconomic	macroeconomic	ADJ
fbem-27778	3	14	indicators	indicator	NOUN
fbem-27778	3	15	,	,	PUNCT
fbem-27778	3	16	and	and	CCONJ
fbem-27778	3	17	use	use	VERB
fbem-27778	3	18	the	the	DET
fbem-27778	3	19	comprehensiveness	comprehensiveness	NOUN
fbem-27778	3	20	of	of	ADP
fbem-27778	3	21	multi	multi	ADJ
fbem-27778	3	22	-	-	ADJ
fbem-27778	3	23	factor	factor	NOUN
fbem-27778	3	24	model	model	NOUN
fbem-27778	3	25	and	and	CCONJ
fbem-27778	3	26	the	the	DET
fbem-27778	3	27	accurate	accurate	ADJ
fbem-27778	3	28	estimation	estimation	NOUN
fbem-27778	3	29	of	of	ADP
fbem-27778	3	30	default	default	NOUN
fbem-27778	3	31	probability	probability	NOUN
fbem-27778	3	32	by	by	ADP
fbem-27778	3	33	kmv	kmv	PROPN
fbem-27778	3	34	model	model	NOUN
fbem-27778	3	35	.	.	PUNCT
fbem-27778	4	1	the	the	DET
fbem-27778	4	2	results	result	NOUN
fbem-27778	4	3	show	show	VERB
fbem-27778	4	4	that	that	SCONJ
fbem-27778	4	5	the	the	DET
fbem-27778	4	6	combination	combination	NOUN
fbem-27778	4	7	of	of	ADP
fbem-27778	4	8	data	datum	NOUN
fbem-27778	4	9	collection	collection	NOUN
fbem-27778	4	10	,	,	PUNCT
fbem-27778	4	11	model	model	NOUN
fbem-27778	4	12	construction	construction	NOUN
fbem-27778	4	13	,	,	PUNCT
fbem-27778	4	14	factor	factor	NOUN
fbem-27778	4	15	optimization	optimization	NOUN
fbem-27778	4	16	and	and	CCONJ
fbem-27778	4	17	model	model	NOUN
fbem-27778	4	18	validation	validation	NOUN
fbem-27778	4	19	can	can	AUX
fbem-27778	4	20	provide	provide	VERB
fbem-27778	4	21	investors	investor	NOUN
fbem-27778	4	22	a	a	DET
fbem-27778	4	23	nd	nd	NOUN
fbem-27778	4	24	regulators	regulator	NOUN
fbem-27778	4	25	with	with	ADP
fbem-27778	4	26	scientific	scientific	ADJ
fbem-27778	4	27	decision	decision	NOUN
fbem-27778	4	28	-	-	PUNCT
fbem-27778	4	29	making	making	NOUN
fbem-27778	4	30	and	and	CCONJ
fbem-27778	4	31	effective	effective	ADJ
fbem-27778	4	32	supervision	supervision	NOUN
fbem-27778	4	33	.	.	PUNCT
fbem-27778	5	1	promote	promote	VERB
fbem-27778	5	2	the	the	DET
fbem-27778	5	3	stable	stable	ADJ
fbem-27778	5	4	development	development	NOUN
fbem-27778	5	5	of	of	ADP
fbem-27778	5	6	the	the	DET
fbem-27778	5	7	market	market	NOUN
fbem-27778	5	8	.	.	PUNCT
fbem-27778	6	1	keywords	keyword	NOUN
fbem-27778	6	2	:	:	PUNCT
fbem-27778	6	3	default	default	NOUN
fbem-27778	6	4	risk	risk	NOUN
fbem-27778	6	5	of	of	ADP
fbem-27778	6	6	urban	urban	ADJ
fbem-27778	6	7	investment	investment	NOUN
fbem-27778	6	8	bonds	bond	NOUN
fbem-27778	6	9	,	,	PUNCT
fbem-27778	6	10	multi	multi	ADJ
fbem-27778	6	11	-	-	ADJ
fbem-27778	6	12	factor	factor	NOUN
fbem-27778	6	13	model	model	NOUN
fbem-27778	6	14	,	,	PUNCT
fbem-27778	6	15	kmv	kmv	PROPN
fbem-27778	6	16	model	model	NOUN
fbem-27778	6	17	,	,	PUNCT
fbem-27778	6	18	mixed	mixed	ADJ
fbem-27778	6	19	research	research	NOUN
fbem-27778	6	20	method	method	NOUN
fbem-27778	6	21	,	,	PUNCT
fbem-27778	6	22	risk	risk	NOUN
fbem-27778	6	23	assessment	assessment	NOUN
fbem-27778	6	24	model	model	NOUN
fbem-27778	6	25	.	.	PUNCT
fbem-27778	7	1	1	1	X
fbem-27778	7	2	.	.	X
fbem-27778	7	3	introduction	introduction	NOUN
fbem-27778	7	4	with	with	ADP
fbem-27778	7	5	the	the	DET
fbem-27778	7	6	rapid	rapid	ADJ
fbem-27778	7	7	development	development	NOUN
fbem-27778	7	8	of	of	ADP
fbem-27778	7	9	china	china	PROPN
fbem-27778	7	10	's	's	PART
fbem-27778	7	11	urbanization	urbanization	NOUN
fbem-27778	7	12	and	and	CCONJ
fbem-27778	7	13	the	the	DET
fbem-27778	7	14	increasing	increase	VERB
fbem-27778	7	15	investment	investment	NOUN
fbem-27778	7	16	in	in	ADP
fbem-27778	7	17	infrastructure	infrastructure	NOUN
fbem-27778	7	18	construction	construction	NOUN
fbem-27778	7	19	,	,	PUNCT
fbem-27778	7	20	urban	urban	ADJ
fbem-27778	7	21	investors	investor	NOUN
fbem-27778	7	22	and	and	CCONJ
fbem-27778	7	23	institutions	institution	NOUN
fbem-27778	7	24	have	have	AUX
fbem-27778	7	25	participated	participate	VERB
fbem-27778	7	26	in	in	ADP
fbem-27778	7	27	china	china	PROPN
fbem-27778	7	28	's	's	PART
fbem-27778	7	29	urban	urban	ADJ
fbem-27778	7	30	investment	investment	NOUN
fbem-27778	7	31	bond	bond	NOUN
fbem-27778	7	32	market	market	NOUN
fbem-27778	7	33	.	.	PUNCT
fbem-27778	8	1	the	the	DET
fbem-27778	8	2	vigorous	vigorous	ADJ
fbem-27778	8	3	development	development	NOUN
fbem-27778	8	4	of	of	ADP
fbem-27778	8	5	this	this	DET
fbem-27778	8	6	market	market	NOUN
fbem-27778	8	7	has	have	AUX
fbem-27778	8	8	provided	provide	VERB
fbem-27778	8	9	financial	financial	ADJ
fbem-27778	8	10	support	support	NOUN
fbem-27778	8	11	for	for	ADP
fbem-27778	8	12	the	the	DET
fbem-27778	8	13	construction	construction	NOUN
fbem-27778	8	14	of	of	ADP
fbem-27778	8	15	urban	urban	ADJ
fbem-27778	8	16	infrastructure	infrastructure	NOUN
fbem-27778	8	17	,	,	PUNCT
fbem-27778	8	18	but	but	CCONJ
fbem-27778	8	19	it	it	PRON
fbem-27778	8	20	is	be	AUX
fbem-27778	8	21	also	also	ADV
fbem-27778	8	22	accompanied	accompany	VERB
fbem-27778	8	23	by	by	ADP
fbem-27778	8	24	an	an	DET
fbem-27778	8	25	increase	increase	NOUN
fbem-27778	8	26	in	in	ADP
fbem-27778	8	27	risk	risk	NOUN
fbem-27778	8	28	.	.	PUNCT
fbem-27778	9	1	therefore	therefore	ADV
fbem-27778	9	2	,	,	PUNCT
fbem-27778	9	3	it	it	PRON
fbem-27778	9	4	is	be	AUX
fbem-27778	9	5	particularly	particularly	ADV
fbem-27778	9	6	important	important	ADJ
fbem-27778	9	7	to	to	PART
fbem-27778	9	8	study	study	VERB
fbem-27778	9	9	how	how	SCONJ
fbem-27778	9	10	to	to	PART
fbem-27778	9	11	measure	measure	VERB
fbem-27778	9	12	the	the	DET
fbem-27778	9	13	risk	risk	NOUN
fbem-27778	9	14	of	of	ADP
fbem-27778	9	15	china	china	PROPN
fbem-27778	9	16	's	's	PART
fbem-27778	9	17	urban	urban	ADJ
fbem-27778	9	18	investment	investment	NOUN
fbem-27778	9	19	bonds	bond	NOUN
fbem-27778	9	20	scientifically	scientifically	ADV
fbem-27778	9	21	and	and	CCONJ
fbem-27778	9	22	effectively	effectively	ADV
fbem-27778	9	23	.	.	PUNCT
fbem-27778	10	1	kmv	kmv	PROPN
fbem-27778	10	2	model	model	NOUN
fbem-27778	10	3	is	be	AUX
fbem-27778	10	4	a	a	DET
fbem-27778	10	5	structural	structural	ADJ
fbem-27778	10	6	model	model	NOUN
fbem-27778	10	7	based	base	VERB
fbem-27778	10	8	on	on	ADP
fbem-27778	10	9	the	the	DET
fbem-27778	10	10	probability	probability	NOUN
fbem-27778	10	11	of	of	ADP
fbem-27778	10	12	corporate	corporate	ADJ
fbem-27778	10	13	default	default	NOUN
fbem-27778	10	14	,	,	PUNCT
fbem-27778	10	15	which	which	PRON
fbem-27778	10	16	can	can	AUX
fbem-27778	10	17	accurately	accurately	ADV
fbem-27778	10	18	estimate	estimate	VERB
fbem-27778	10	19	the	the	DET
fbem-27778	10	20	probability	probability	NOUN
fbem-27778	10	21	of	of	ADP
fbem-27778	10	22	debt	debt	NOUN
fbem-27778	10	23	default	default	NOUN
fbem-27778	10	24	by	by	ADP
fbem-27778	10	25	considering	consider	VERB
fbem-27778	10	26	the	the	DET
fbem-27778	10	27	structure	structure	NOUN
fbem-27778	10	28	of	of	ADP
fbem-27778	10	29	the	the	DET
fbem-27778	10	30	debtor	debtor	NOUN
fbem-27778	10	31	's	's	PART
fbem-27778	10	32	balance	balance	NOUN
fbem-27778	10	33	sheet	sheet	NOUN
fbem-27778	10	34	and	and	CCONJ
fbem-27778	10	35	market	market	NOUN
fbem-27778	10	36	factors	factor	NOUN
fbem-27778	10	37	.	.	PUNCT
fbem-27778	11	1	the	the	DET
fbem-27778	11	2	multi	multi	ADJ
fbem-27778	11	3	-	-	ADJ
fbem-27778	11	4	factor	factor	NOUN
fbem-27778	11	5	model	model	NOUN
fbem-27778	11	6	evaluates	evaluate	VERB
fbem-27778	11	7	the	the	DET
fbem-27778	11	8	risk	risk	NOUN
fbem-27778	11	9	of	of	ADP
fbem-27778	11	10	bonds	bond	NOUN
fbem-27778	11	11	comprehensively	comprehensively	ADV
fbem-27778	11	12	by	by	ADP
fbem-27778	11	13	considering	consider	VERB
fbem-27778	11	14	multiple	multiple	ADJ
fbem-27778	11	15	factors	factor	NOUN
fbem-27778	11	16	,	,	PUNCT
fbem-27778	11	17	such	such	ADJ
fbem-27778	11	18	as	as	ADP
fbem-27778	11	19	market	market	NOUN
fbem-27778	11	20	factors	factor	NOUN
fbem-27778	11	21	,	,	PUNCT
fbem-27778	11	22	credit	credit	NOUN
fbem-27778	11	23	rating	rating	NOUN
fbem-27778	11	24	,	,	PUNCT
fbem-27778	11	25	macroeconomic	macroeconomic	ADJ
fbem-27778	11	26	indicators	indicator	NOUN
fbem-27778	11	27	,	,	PUNCT
fbem-27778	11	28	etc	etc	X
fbem-27778	11	29	.	.	X
fbem-27778	12	1	[	[	X
fbem-27778	12	2	1	1	NUM
fbem-27778	12	3	]	]	PUNCT
fbem-27778	12	4	.	.	PUNCT
fbem-27778	13	1	this	this	DET
fbem-27778	13	2	paper	paper	NOUN
fbem-27778	13	3	empirically	empirically	ADV
fbem-27778	13	4	studies	study	VERB
fbem-27778	13	5	the	the	DET
fbem-27778	13	6	default	default	NOUN
fbem-27778	13	7	risk	risk	NOUN
fbem-27778	13	8	of	of	ADP
fbem-27778	13	9	shanghai	shanghai	PROPN
fbem-27778	13	10	municipal	municipal	ADJ
fbem-27778	13	11	investment	investment	NOUN
fbem-27778	13	12	bonds	bond	NOUN
fbem-27778	13	13	by	by	ADP
fbem-27778	13	14	using	use	VERB
fbem-27778	13	15	multi	multi	ADJ
fbem-27778	13	16	-	-	ADJ
fbem-27778	13	17	factor	factor	NOUN
fbem-27778	13	18	model	model	NOUN
fbem-27778	13	19	and	and	CCONJ
fbem-27778	13	20	kmv	kmv	PROPN
fbem-27778	13	21	model	model	NOUN
fbem-27778	13	22	.	.	PUNCT
fbem-27778	14	1	2	2	X
fbem-27778	14	2	.	.	X
fbem-27778	14	3	literature	literature	PROPN
fbem-27778	14	4	review	review	PROPN
fbem-27778	14	5	zhu	zhu	PROPN
fbem-27778	14	6	jie	jie	PROPN
fbem-27778	14	7	and	and	CCONJ
fbem-27778	14	8	li	li	PROPN
fbem-27778	14	9	qiyun	qiyun	PROPN
fbem-27778	14	10	calculated	calculate	VERB
fbem-27778	14	11	the	the	DET
fbem-27778	14	12	issuance	issuance	NOUN
fbem-27778	14	13	scale	scale	NOUN
fbem-27778	14	14	of	of	ADP
fbem-27778	14	15	local	local	ADJ
fbem-27778	14	16	government	government	NOUN
fbem-27778	14	17	bonds	bond	NOUN
fbem-27778	14	18	from	from	ADP
fbem-27778	14	19	the	the	DET
fbem-27778	14	20	perspective	perspective	NOUN
fbem-27778	14	21	of	of	ADP
fbem-27778	14	22	credit	credit	NOUN
fbem-27778	14	23	risk	risk	NOUN
fbem-27778	14	24	through	through	ADP
fbem-27778	14	25	kmv	kmv	PROPN
fbem-27778	14	26	model	model	NOUN
fbem-27778	14	27	,	,	PUNCT
fbem-27778	14	28	which	which	PRON
fbem-27778	14	29	provided	provide	VERB
fbem-27778	14	30	an	an	DET
fbem-27778	14	31	empirical	empirical	ADJ
fbem-27778	14	32	analysis	analysis	NOUN
fbem-27778	14	33	for	for	ADP
fbem-27778	14	34	understanding	understand	VERB
fbem-27778	14	35	the	the	DET
fbem-27778	14	36	relationship	relationship	NOUN
fbem-27778	14	37	between	between	ADP
fbem-27778	14	38	the	the	DET
fbem-27778	14	39	scale	scale	NOUN
fbem-27778	14	40	and	and	CCONJ
fbem-27778	14	41	risk	risk	NOUN
fbem-27778	14	42	of	of	ADP
fbem-27778	14	43	urban	urban	ADJ
fbem-27778	14	44	investment	investment	NOUN
fbem-27778	14	45	bonds	bond	NOUN
fbem-27778	14	46	[	[	X
fbem-27778	14	47	2	2	NUM
fbem-27778	14	48	]	]	PUNCT
fbem-27778	14	49	.	.	PUNCT
fbem-27778	15	1	xia	xia	PROPN
fbem-27778	15	2	shiyuan	shiyuan	PROPN
fbem-27778	15	3	used	use	VERB
fbem-27778	15	4	kmv	kmv	PROPN
fbem-27778	15	5	model	model	NOUN
fbem-27778	15	6	to	to	PART
fbem-27778	15	7	conduct	conduct	VERB
fbem-27778	15	8	early	early	ADJ
fbem-27778	15	9	warning	warning	NOUN
fbem-27778	15	10	research	research	NOUN
fbem-27778	15	11	on	on	ADP
fbem-27778	15	12	local	local	ADJ
fbem-27778	15	13	government	government	NOUN
fbem-27778	15	14	debt	debt	NOUN
fbem-27778	15	15	risk	risk	NOUN
fbem-27778	15	16	,	,	PUNCT
fbem-27778	15	17	demonstrating	demonstrate	VERB
fbem-27778	15	18	the	the	DET
fbem-27778	15	19	application	application	NOUN
fbem-27778	15	20	potential	potential	NOUN
fbem-27778	15	21	of	of	ADP
fbem-27778	15	22	structural	structural	ADJ
fbem-27778	15	23	model	model	NOUN
fbem-27778	15	24	in	in	ADP
fbem-27778	15	25	default	default	NOUN
fbem-27778	15	26	risk	risk	NOUN
fbem-27778	15	27	assessment	assessment	NOUN
fbem-27778	15	28	[	[	X
fbem-27778	15	29	3	3	NUM
fbem-27778	15	30	]	]	PUNCT
fbem-27778	15	31	.	.	PUNCT
fbem-27778	16	1	sun	sun	PROPN
fbem-27778	16	2	li	li	PROPN
fbem-27778	16	3	and	and	CCONJ
fbem-27778	16	4	kong	kong	PROPN
fbem-27778	16	5	wenxi	wenxi	NOUN
fbem-27778	16	6	studied	study	VERB
fbem-27778	16	7	the	the	DET
fbem-27778	16	8	measurement	measurement	NOUN
fbem-27778	16	9	and	and	CCONJ
fbem-27778	16	10	early	early	ADJ
fbem-27778	16	11	warning	warning	NOUN
fbem-27778	16	12	of	of	ADP
fbem-27778	16	13	default	default	NOUN
fbem-27778	16	14	risk	risk	NOUN
fbem-27778	16	15	of	of	ADP
fbem-27778	16	16	urban	urban	ADJ
fbem-27778	16	17	investment	investment	NOUN
fbem-27778	16	18	bonds	bond	NOUN
fbem-27778	16	19	based	base	VERB
fbem-27778	16	20	on	on	ADP
fbem-27778	16	21	kmv	kmv	PROPN
fbem-27778	16	22	and	and	CCONJ
fbem-27778	16	23	bp	bp	PROPN
fbem-27778	16	24	models	model	NOUN
fbem-27778	16	25	,	,	PUNCT
fbem-27778	16	26	which	which	PRON
fbem-27778	16	27	provided	provide	VERB
fbem-27778	16	28	a	a	DET
fbem-27778	16	29	new	new	ADJ
fbem-27778	16	30	perspective	perspective	NOUN
fbem-27778	16	31	for	for	ADP
fbem-27778	16	32	risk	risk	NOUN
fbem-27778	16	33	management	management	NOUN
fbem-27778	16	34	[	[	X
fbem-27778	16	35	4	4	NUM
fbem-27778	16	36	]	]	PUNCT
fbem-27778	16	37	.	.	PUNCT
fbem-27778	17	1	in	in	ADP
fbem-27778	17	2	her	her	PRON
fbem-27778	17	3	research	research	NOUN
fbem-27778	17	4	,	,	PUNCT
fbem-27778	17	5	yuan	yuan	PROPN
fbem-27778	17	6	xinyu	xinyu	PROPN
fbem-27778	17	7	tried	try	VERB
fbem-27778	17	8	to	to	PART
fbem-27778	17	9	improve	improve	VERB
fbem-27778	17	10	the	the	DET
fbem-27778	17	11	credit	credit	NOUN
fbem-27778	17	12	rating	rating	NOUN
fbem-27778	17	13	model	model	NOUN
fbem-27778	17	14	by	by	ADP
fbem-27778	17	15	introducing	introduce	VERB
fbem-27778	17	16	more	more	ADJ
fbem-27778	17	17	factors	factor	NOUN
fbem-27778	17	18	to	to	PART
fbem-27778	17	19	improve	improve	VERB
fbem-27778	17	20	the	the	DET
fbem-27778	17	21	accuracy	accuracy	NOUN
fbem-27778	17	22	of	of	ADP
fbem-27778	17	23	credit	credit	NOUN
fbem-27778	17	24	risk	risk	NOUN
fbem-27778	17	25	assessment	assessment	NOUN
fbem-27778	17	26	of	of	ADP
fbem-27778	17	27	urban	urban	ADJ
fbem-27778	17	28	investment	investment	NOUN
fbem-27778	17	29	bonds	bond	NOUN
fbem-27778	17	30	[	[	X
fbem-27778	17	31	1	1	NUM
fbem-27778	17	32	]	]	PUNCT
fbem-27778	17	33	.	.	PUNCT
fbem-27778	18	1	abdul	abdul	PROPN
fbem-27778	18	2	bahri	bahri	PROPN
fbem-27778	18	3	assessed	assess	VERB
fbem-27778	18	4	the	the	DET
fbem-27778	18	5	debt	debt	NOUN
fbem-27778	18	6	risk	risk	NOUN
fbem-27778	18	7	of	of	ADP
fbem-27778	18	8	green	green	ADJ
fbem-27778	18	9	bonds	bond	NOUN
fbem-27778	18	10	issued	issue	VERB
fbem-27778	18	11	by	by	ADP
fbem-27778	18	12	local	local	ADJ
fbem-27778	18	13	governments	government	NOUN
fbem-27778	18	14	using	use	VERB
fbem-27778	18	15	three	three	NUM
fbem-27778	18	16	principal	principal	ADJ
fbem-27778	18	17	component	component	NOUN
fbem-27778	18	18	factors	factor	NOUN
fbem-27778	18	19	extracted	extract	VERB
fbem-27778	18	20	from	from	ADP
fbem-27778	18	21	the	the	DET
fbem-27778	18	22	kmv	kmv	PROPN
fbem-27778	18	23	model	model	NOUN
fbem-27778	18	24	combined	combine	VERB
fbem-27778	18	25	with	with	ADP
fbem-27778	18	26	principal	principal	ADJ
fbem-27778	18	27	component	component	NOUN
fbem-27778	18	28	analysis	analysis	NOUN
fbem-27778	18	29	.	.	PUNCT
fbem-27778	19	1	this	this	PRON
fbem-27778	19	2	highlights	highlight	VERB
fbem-27778	19	3	the	the	DET
fbem-27778	19	4	importance	importance	NOUN
fbem-27778	19	5	of	of	ADP
fbem-27778	19	6	including	include	VERB
fbem-27778	19	7	multiple	multiple	ADJ
fbem-27778	19	8	factors	factor	NOUN
fbem-27778	19	9	when	when	SCONJ
fbem-27778	19	10	assessing	assess	VERB
fbem-27778	19	11	the	the	DET
fbem-27778	19	12	default	default	NOUN
fbem-27778	19	13	risk	risk	NOUN
fbem-27778	19	14	of	of	ADP
fbem-27778	19	15	urban	urban	ADJ
fbem-27778	19	16	investment	investment	NOUN
fbem-27778	19	17	bonds	bond	NOUN
fbem-27778	19	18	[	[	X
fbem-27778	19	19	5	5	NUM
fbem-27778	19	20	]	]	PUNCT
fbem-27778	19	21	.	.	PUNCT
fbem-27778	20	1	peykani	peykani	PROPN
fbem-27778	20	2	's	's	PART
fbem-27778	20	3	research	research	NOUN
fbem-27778	20	4	explores	explore	VERB
fbem-27778	20	5	the	the	DET
fbem-27778	20	6	application	application	NOUN
fbem-27778	20	7	of	of	ADP
fbem-27778	20	8	structural	structural	ADJ
fbem-27778	20	9	and	and	CCONJ
fbem-27778	20	10	machine	machine	NOUN
fbem-27778	20	11	learning	learning	NOUN
fbem-27778	20	12	models	model	NOUN
fbem-27778	20	13	to	to	PART
fbem-27778	20	14	predict	predict	VERB
fbem-27778	20	15	the	the	DET
fbem-27778	20	16	non	non	ADJ
fbem-27778	20	17	-	-	ADJ
fbem-27778	20	18	standard	standard	ADJ
fbem-27778	20	19	default	default	NOUN
fbem-27778	20	20	risk	risk	NOUN
fbem-27778	20	21	of	of	ADP
fbem-27778	20	22	urban	urban	ADJ
fbem-27778	20	23	investment	investment	NOUN
fbem-27778	20	24	and	and	CCONJ
fbem-27778	20	25	development	development	NOUN
fbem-27778	20	26	companies	company	NOUN
fbem-27778	20	27	in	in	ADP
fbem-27778	20	28	the	the	DET
fbem-27778	20	29	urban	urban	ADJ
fbem-27778	20	30	investment	investment	NOUN
fbem-27778	20	31	bond	bond	NOUN
fbem-27778	20	32	market	market	NOUN
fbem-27778	20	33	[	[	X
fbem-27778	20	34	6	6	NUM
fbem-27778	20	35	]	]	PUNCT
fbem-27778	20	36	.	.	PUNCT
fbem-27778	21	1	3	3	X
fbem-27778	21	2	.	.	X
fbem-27778	21	3	multi	multi	ADJ
fbem-27778	21	4	-	-	ADJ
fbem-27778	21	5	factor	factor	NOUN
fbem-27778	21	6	model	model	NOUN
fbem-27778	21	7	analysis	analysis	NOUN
fbem-27778	21	8	based	base	VERB
fbem-27778	21	9	on	on	ADP
fbem-27778	21	10	the	the	DET
fbem-27778	21	11	issuer	issuer	NOUN
fbem-27778	21	12	's	's	PART
fbem-27778	21	13	perspective	perspective	NOUN
fbem-27778	21	14	3.1	3.1	NUM
fbem-27778	21	15	.	.	PUNCT
fbem-27778	21	16	data	datum	NOUN
fbem-27778	21	17	source	source	NOUN
fbem-27778	21	18	and	and	CCONJ
fbem-27778	21	19	processing	process	VERB
fbem-27778	21	20	the	the	DET
fbem-27778	21	21	data	datum	NOUN
fbem-27778	21	22	used	use	VERB
fbem-27778	21	23	in	in	ADP
fbem-27778	21	24	this	this	DET
fbem-27778	21	25	paper	paper	NOUN
fbem-27778	21	26	are	be	AUX
fbem-27778	21	27	all	all	ADV
fbem-27778	21	28	from	from	ADP
fbem-27778	21	29	the	the	DET
fbem-27778	21	30	authoritative	authoritative	ADJ
fbem-27778	21	31	wind	wind	NOUN
fbem-27778	21	32	database	database	NOUN
fbem-27778	21	33	,	,	PUNCT
fbem-27778	21	34	excluding	exclude	VERB
fbem-27778	21	35	the	the	DET
fbem-27778	21	36	samples	sample	NOUN
fbem-27778	21	37	that	that	PRON
fbem-27778	21	38	can	can	AUX
fbem-27778	21	39	not	not	PART
fbem-27778	21	40	match	match	VERB
fbem-27778	21	41	the	the	DET
fbem-27778	21	42	maturity	maturity	NOUN
fbem-27778	21	43	of	of	ADP
fbem-27778	21	44	treasury	treasury	NOUN
fbem-27778	21	45	bonds	bond	NOUN
fbem-27778	21	46	,	,	PUNCT
fbem-27778	21	47	can	can	AUX
fbem-27778	21	48	not	not	PART
fbem-27778	21	49	calculate	calculate	VERB
fbem-27778	21	50	credit	credit	NOUN
fbem-27778	21	51	spreads	spread	NOUN
fbem-27778	21	52	by	by	ADP
fbem-27778	21	53	matching	match	VERB
fbem-27778	21	54	with	with	ADP
fbem-27778	21	55	treasury	treasury	NOUN
fbem-27778	21	56	bonds	bond	NOUN
fbem-27778	21	57	,	,	PUNCT
fbem-27778	21	58	and	and	CCONJ
fbem-27778	21	59	have	have	VERB
fbem-27778	21	60	serious	serious	ADJ
fbem-27778	21	61	data	datum	NOUN
fbem-27778	21	62	deficiencies	deficiency	NOUN
fbem-27778	21	63	,	,	PUNCT
fbem-27778	21	64	including	include	VERB
fbem-27778	21	65	the	the	DET
fbem-27778	21	66	samples	sample	NOUN
fbem-27778	21	67	that	that	PRON
fbem-27778	21	68	the	the	DET
fbem-27778	21	69	issuers	issuer	NOUN
fbem-27778	21	70	have	have	VERB
fbem-27778	21	71	no	no	DET
fbem-27778	21	72	credit	credit	NOUN
fbem-27778	21	73	rating	rating	NOUN
fbem-27778	21	74	and	and	CCONJ
fbem-27778	21	75	the	the	DET
fbem-27778	21	76	samples	sample	NOUN
fbem-27778	21	77	that	that	PRON
fbem-27778	21	78	have	have	VERB
fbem-27778	21	79	a	a	DET
fbem-27778	21	80	large	large	ADJ
fbem-27778	21	81	number	number	NOUN
fbem-27778	21	82	of	of	ADP
fbem-27778	21	83	missing	miss	VERB
fbem-27778	21	84	financial	financial	ADJ
fbem-27778	21	85	data	datum	NOUN
fbem-27778	21	86	.	.	PUNCT
fbem-27778	22	1	3.2	3.2	NUM
fbem-27778	22	2	.	.	PUNCT
fbem-27778	23	1	indicator	indicator	NOUN
fbem-27778	23	2	factors	factor	NOUN
fbem-27778	23	3	usually	usually	ADV
fbem-27778	23	4	,	,	PUNCT
fbem-27778	23	5	the	the	DET
fbem-27778	23	6	yield	yield	NOUN
fbem-27778	23	7	of	of	ADP
fbem-27778	23	8	treasury	treasury	NOUN
fbem-27778	23	9	bonds	bond	NOUN
fbem-27778	23	10	with	with	ADP
fbem-27778	23	11	the	the	DET
fbem-27778	23	12	same	same	ADJ
fbem-27778	23	13	maturity	maturity	NOUN
fbem-27778	23	14	is	be	AUX
fbem-27778	23	15	regarded	regard	VERB
fbem-27778	23	16	as	as	ADP
fbem-27778	23	17	a	a	DET
fbem-27778	23	18	substitute	substitute	NOUN
fbem-27778	23	19	for	for	ADP
fbem-27778	23	20	the	the	DET
fbem-27778	23	21	risk	risk	NOUN
fbem-27778	23	22	-	-	PUNCT
fbem-27778	23	23	free	free	ADJ
fbem-27778	23	24	interest	interest	NOUN
fbem-27778	23	25	rate	rate	NOUN
fbem-27778	23	26	,	,	PUNCT
fbem-27778	23	27	and	and	CCONJ
fbem-27778	23	28	the	the	DET
fbem-27778	23	29	credit	credit	NOUN
fbem-27778	23	30	spread	spread	NOUN
fbem-27778	23	31	of	of	ADP
fbem-27778	23	32	bonds	bond	NOUN
fbem-27778	23	33	is	be	AUX
fbem-27778	23	34	measured	measure	VERB
fbem-27778	23	35	by	by	ADP
fbem-27778	23	36	the	the	DET
fbem-27778	23	37	difference	difference	NOUN
fbem-27778	23	38	between	between	ADP
fbem-27778	23	39	the	the	DET
fbem-27778	23	40	issuance	issuance	NOUN
fbem-27778	23	41	price	price	NOUN
fbem-27778	23	42	of	of	ADP
fbem-27778	23	43	bonds	bond	NOUN
fbem-27778	23	44	and	and	CCONJ
fbem-27778	23	45	the	the	DET
fbem-27778	23	46	yield	yield	NOUN
fbem-27778	23	47	of	of	ADP
fbem-27778	23	48	treasury	treasury	NOUN
fbem-27778	23	49	bonds	bond	NOUN
fbem-27778	23	50	.	.	PUNCT
fbem-27778	24	1	cst	cst	PROPN
fbem-27778	24	2	=	=	PROPN
fbem-27778	24	3	yt	yt	PROPN
fbem-27778	24	4	-	-	PUNCT
fbem-27778	24	5	rt	rt	PROPN
fbem-27778	24	6	(	(	PUNCT
fbem-27778	24	7	1	1	NUM
fbem-27778	24	8	)	)	PUNCT
fbem-27778	24	9	where	where	SCONJ
fbem-27778	24	10	,	,	PUNCT
fbem-27778	24	11	cst	cst	PROPN
fbem-27778	24	12	is	be	AUX
fbem-27778	24	13	the	the	DET
fbem-27778	24	14	credit	credit	NOUN
fbem-27778	24	15	spread	spread	NOUN
fbem-27778	24	16	of	of	ADP
fbem-27778	24	17	the	the	DET
fbem-27778	24	18	urban	urban	ADJ
fbem-27778	24	19	investment	investment	NOUN
fbem-27778	24	20	bond	bond	NOUN
fbem-27778	24	21	with	with	ADP
fbem-27778	24	22	the	the	DET
fbem-27778	24	23	remaining	remain	VERB
fbem-27778	24	24	maturity	maturity	NOUN
fbem-27778	24	25	of	of	ADP
fbem-27778	24	26	t	t	PROPN
fbem-27778	24	27	,	,	PUNCT
fbem-27778	24	28	yt	yt	PROPN
fbem-27778	24	29	is	be	AUX
fbem-27778	24	30	the	the	DET
fbem-27778	24	31	issuing	issue	VERB
fbem-27778	24	32	interest	interest	NOUN
fbem-27778	24	33	rate	rate	NOUN
fbem-27778	24	34	of	of	ADP
fbem-27778	24	35	the	the	DET
fbem-27778	24	36	urban	urban	ADJ
fbem-27778	24	37	investment	investment	NOUN
fbem-27778	24	38	bond	bond	NOUN
fbem-27778	24	39	with	with	ADP
fbem-27778	24	40	the	the	DET
fbem-27778	24	41	remaining	remain	VERB
fbem-27778	24	42	maturity	maturity	NOUN
fbem-27778	24	43	of	of	ADP
fbem-27778	24	44	t	t	PROPN
fbem-27778	24	45	,	,	PUNCT
fbem-27778	24	46	and	and	CCONJ
fbem-27778	24	47	rt	rt	PROPN
fbem-27778	24	48	is	be	AUX
fbem-27778	24	49	the	the	DET
fbem-27778	24	50	yield	yield	NOUN
fbem-27778	24	51	to	to	ADP
fbem-27778	24	52	maturity	maturity	NOUN
fbem-27778	24	53	of	of	ADP
fbem-27778	24	54	the	the	DET
fbem-27778	24	55	treasury	treasury	NOUN
fbem-27778	24	56	bond	bond	NOUN
fbem-27778	24	57	matching	match	VERB
fbem-27778	24	58	the	the	DET
fbem-27778	24	59	urban	urban	ADJ
fbem-27778	24	60	investment	investment	NOUN
fbem-27778	24	61	bond	bond	NOUN
fbem-27778	24	62	,	,	PUNCT
fbem-27778	24	63	that	that	ADV
fbem-27778	24	64	is	is	ADV
fbem-27778	24	65	,	,	PUNCT
fbem-27778	24	66	consistent	consistent	ADJ
fbem-27778	24	67	451	451	NUM
fbem-27778	24	68	with	with	ADP
fbem-27778	24	69	the	the	DET
fbem-27778	24	70	remaining	remain	VERB
fbem-27778	24	71	maturity	maturity	NOUN
fbem-27778	24	72	of	of	ADP
fbem-27778	24	73	the	the	DET
fbem-27778	24	74	urban	urban	ADJ
fbem-27778	24	75	investment	investment	NOUN
fbem-27778	24	76	bond	bond	NOUN
fbem-27778	24	77	.	.	PUNCT
fbem-27778	25	1	the	the	DET
fbem-27778	25	2	fund	fund	NOUN
fbem-27778	25	3	sources	source	NOUN
fbem-27778	25	4	for	for	ADP
fbem-27778	25	5	urban	urban	ADJ
fbem-27778	25	6	investment	investment	NOUN
fbem-27778	25	7	companies	company	NOUN
fbem-27778	25	8	to	to	PART
fbem-27778	25	9	repay	repay	VERB
fbem-27778	25	10	the	the	DET
fbem-27778	25	11	principal	principal	NOUN
fbem-27778	25	12	and	and	CCONJ
fbem-27778	25	13	interest	interest	NOUN
fbem-27778	25	14	of	of	ADP
fbem-27778	25	15	their	their	PRON
fbem-27778	25	16	debts	debt	NOUN
fbem-27778	25	17	can	can	AUX
fbem-27778	25	18	be	be	AUX
fbem-27778	25	19	divided	divide	VERB
fbem-27778	25	20	into	into	ADP
fbem-27778	25	21	three	three	NUM
fbem-27778	25	22	parts	part	NOUN
fbem-27778	25	23	:	:	PUNCT
fbem-27778	25	24	endogenous	endogenous	ADJ
fbem-27778	25	25	funds	fund	NOUN
fbem-27778	25	26	,	,	PUNCT
fbem-27778	25	27	exogenous	exogenous	ADJ
fbem-27778	25	28	funds	fund	NOUN
fbem-27778	25	29	and	and	CCONJ
fbem-27778	25	30	coordinated	coordinated	ADJ
fbem-27778	25	31	funds	fund	NOUN
fbem-27778	25	32	.	.	PUNCT
fbem-27778	26	1	the	the	DET
fbem-27778	26	2	stability	stability	NOUN
fbem-27778	26	3	of	of	ADP
fbem-27778	26	4	such	such	ADJ
fbem-27778	26	5	funds	fund	NOUN
fbem-27778	26	6	is	be	AUX
fbem-27778	26	7	highly	highly	ADV
fbem-27778	26	8	dependent	dependent	ADJ
fbem-27778	26	9	on	on	ADP
fbem-27778	26	10	the	the	DET
fbem-27778	26	11	financial	financial	ADJ
fbem-27778	26	12	ecological	ecological	ADJ
fbem-27778	26	13	environment	environment	NOUN
fbem-27778	26	14	of	of	ADP
fbem-27778	26	15	the	the	DET
fbem-27778	26	16	region	region	NOUN
fbem-27778	26	17	where	where	SCONJ
fbem-27778	26	18	the	the	DET
fbem-27778	26	19	urban	urban	ADJ
fbem-27778	26	20	investment	investment	NOUN
fbem-27778	26	21	companies	company	NOUN
fbem-27778	26	22	are	be	AUX
fbem-27778	26	23	located	locate	VERB
fbem-27778	26	24	,	,	PUNCT
fbem-27778	26	25	that	that	ADV
fbem-27778	26	26	is	is	ADV
fbem-27778	26	27	,	,	PUNCT
fbem-27778	26	28	the	the	DET
fbem-27778	26	29	comprehensive	comprehensive	ADJ
fbem-27778	26	30	effect	effect	NOUN
fbem-27778	26	31	of	of	ADP
fbem-27778	26	32	a	a	DET
fbem-27778	26	33	series	series	NOUN
fbem-27778	26	34	of	of	ADP
fbem-27778	26	35	non	non	ADJ
fbem-27778	26	36	-	-	ADJ
fbem-27778	26	37	economic	economic	ADJ
fbem-27778	26	38	factors	factor	NOUN
fbem-27778	26	39	[	[	X
fbem-27778	26	40	7	7	NUM
fbem-27778	26	41	]	]	PUNCT
fbem-27778	26	42	.	.	PUNCT
fbem-27778	27	1	in	in	ADP
fbem-27778	27	2	order	order	NOUN
fbem-27778	27	3	to	to	PART
fbem-27778	27	4	accurately	accurately	ADV
fbem-27778	27	5	quantify	quantify	VERB
fbem-27778	27	6	this	this	DET
fbem-27778	27	7	complex	complex	ADJ
fbem-27778	27	8	risk	risk	NOUN
fbem-27778	27	9	,	,	PUNCT
fbem-27778	27	10	it	it	PRON
fbem-27778	27	11	is	be	AUX
fbem-27778	27	12	necessary	necessary	ADJ
fbem-27778	27	13	to	to	PART
fbem-27778	27	14	build	build	VERB
fbem-27778	27	15	a	a	DET
fbem-27778	27	16	multi	multi	ADJ
fbem-27778	27	17	-	-	ADJ
fbem-27778	27	18	dimensional	dimensional	ADJ
fbem-27778	27	19	and	and	CCONJ
fbem-27778	27	20	multi	multi	ADJ
fbem-27778	27	21	-	-	ADJ
fbem-27778	27	22	factor	factor	NOUN
fbem-27778	27	23	evaluation	evaluation	NOUN
fbem-27778	27	24	model	model	NOUN
fbem-27778	27	25	system	system	NOUN
fbem-27778	27	26	.	.	PUNCT
fbem-27778	28	1	3.3	3.3	NUM
fbem-27778	28	2	.	.	PUNCT
fbem-27778	29	1	factor	factor	NOUN
fbem-27778	29	2	analysis	analysis	NOUN
fbem-27778	29	3	(	(	PUNCT
fbem-27778	29	4	1	1	X
fbem-27778	29	5	)	)	PUNCT
fbem-27778	29	6	feasibility	feasibility	NOUN
fbem-27778	29	7	test	test	NOUN
fbem-27778	29	8	it	it	PRON
fbem-27778	29	9	can	can	AUX
fbem-27778	29	10	be	be	AUX
fbem-27778	29	11	seen	see	VERB
fbem-27778	29	12	from	from	ADP
fbem-27778	29	13	table	table	NOUN
fbem-27778	29	14	1	1	NUM
fbem-27778	29	15	that	that	SCONJ
fbem-27778	29	16	the	the	DET
fbem-27778	29	17	data	datum	NOUN
fbem-27778	29	18	are	be	AUX
fbem-27778	29	19	relevant	relevant	ADJ
fbem-27778	29	20	and	and	CCONJ
fbem-27778	29	21	suitable	suitable	ADJ
fbem-27778	29	22	for	for	ADP
fbem-27778	29	23	factor	factor	NOUN
fbem-27778	29	24	analysis	analysis	NOUN
fbem-27778	29	25	.	.	PUNCT
fbem-27778	30	1	table	table	NOUN
fbem-27778	30	2	1	1	NUM
fbem-27778	30	3	.	.	PUNCT
fbem-27778	31	1	kmo	kmo	PROPN
fbem-27778	31	2	test	test	PROPN
fbem-27778	31	3	kmo	kmo	PROPN
fbem-27778	31	4	0.812	0.812	NUM
fbem-27778	31	5	approximate	approximate	ADJ
fbem-27778	31	6	x2	x2	PROPN
fbem-27778	31	7	21031	21031	NUM
fbem-27778	31	8	bartley	bartley	PROPN
fbem-27778	31	9	sphere	sphere	PROPN
fbem-27778	31	10	test	test	NOUN
fbem-27778	31	11	degrees	degree	NOUN
fbem-27778	31	12	of	of	ADP
fbem-27778	31	13	freedom	freedom	NOUN
fbem-27778	31	14	615	615	NUM
fbem-27778	31	15	sig	sig	NOUN
fbem-27778	31	16	.	.	PUNCT
fbem-27778	32	1	0.000	0.000	NUM
fbem-27778	32	2	(	(	PUNCT
fbem-27778	32	3	2	2	X
fbem-27778	32	4	)	)	PUNCT
fbem-27778	32	5	extracting	extract	VERB
fbem-27778	32	6	principal	principal	ADJ
fbem-27778	32	7	components	component	NOUN
fbem-27778	32	8	;	;	PUNCT
fbem-27778	32	9	it	it	PRON
fbem-27778	32	10	is	be	AUX
fbem-27778	32	11	mainly	mainly	ADV
fbem-27778	32	12	based	base	VERB
fbem-27778	32	13	on	on	ADP
fbem-27778	32	14	the	the	DET
fbem-27778	32	15	cumulative	cumulative	ADJ
fbem-27778	32	16	contribution	contribution	NOUN
fbem-27778	32	17	value	value	NOUN
fbem-27778	32	18	as	as	ADP
fbem-27778	32	19	the	the	DET
fbem-27778	32	20	screening	screening	NOUN
fbem-27778	32	21	criteria	criterion	NOUN
fbem-27778	32	22	,	,	PUNCT
fbem-27778	32	23	supplemented	supplement	VERB
fbem-27778	32	24	by	by	ADP
fbem-27778	32	25	the	the	DET
fbem-27778	32	26	characteristic	characteristic	ADJ
fbem-27778	32	27	value	value	NOUN
fbem-27778	32	28	as	as	ADP
fbem-27778	32	29	a	a	DET
fbem-27778	32	30	reference	reference	NOUN
fbem-27778	32	31	.	.	PUNCT
fbem-27778	33	1	after	after	ADP
fbem-27778	33	2	screening	screen	VERB
fbem-27778	33	3	,	,	PUNCT
fbem-27778	33	4	we	we	PRON
fbem-27778	33	5	found	find	VERB
fbem-27778	33	6	that	that	SCONJ
fbem-27778	33	7	there	there	PRON
fbem-27778	33	8	were	be	VERB
fbem-27778	33	9	eight	eight	NUM
fbem-27778	33	10	factors	factor	NOUN
fbem-27778	33	11	whose	whose	DET
fbem-27778	33	12	characteristic	characteristic	ADJ
fbem-27778	33	13	roots	root	NOUN
fbem-27778	33	14	were	be	AUX
fbem-27778	33	15	greater	great	ADJ
fbem-27778	33	16	than	than	ADP
fbem-27778	33	17	1	1	NUM
fbem-27778	33	18	,	,	PUNCT
fbem-27778	33	19	and	and	CCONJ
fbem-27778	33	20	the	the	DET
fbem-27778	33	21	cumulative	cumulative	ADJ
fbem-27778	33	22	variance	variance	NOUN
fbem-27778	33	23	contribution	contribution	NOUN
fbem-27778	33	24	rate	rate	NOUN
fbem-27778	33	25	of	of	ADP
fbem-27778	33	26	these	these	DET
fbem-27778	33	27	factors	factor	NOUN
fbem-27778	33	28	was	be	AUX
fbem-27778	33	29	as	as	ADV
fbem-27778	33	30	high	high	ADJ
fbem-27778	33	31	as	as	ADP
fbem-27778	33	32	85.01	85.01	NUM
fbem-27778	33	33	%	%	NOUN
fbem-27778	33	34	.	.	PUNCT
fbem-27778	34	1	these	these	DET
fbem-27778	34	2	eight	eight	NUM
fbem-27778	34	3	factors	factor	NOUN
fbem-27778	34	4	were	be	AUX
fbem-27778	34	5	regarded	regard	VERB
fbem-27778	34	6	as	as	ADP
fbem-27778	34	7	suitable	suitable	ADJ
fbem-27778	34	8	principal	principal	ADJ
fbem-27778	34	9	components	component	NOUN
fbem-27778	34	10	.	.	PUNCT
fbem-27778	35	1	in	in	ADP
fbem-27778	35	2	order	order	NOUN
fbem-27778	35	3	to	to	PART
fbem-27778	35	4	clarify	clarify	VERB
fbem-27778	35	5	the	the	DET
fbem-27778	35	6	influencing	influence	VERB
fbem-27778	35	7	factors	factor	NOUN
fbem-27778	35	8	of	of	ADP
fbem-27778	35	9	each	each	DET
fbem-27778	35	10	principal	principal	ADJ
fbem-27778	35	11	component	component	NOUN
fbem-27778	35	12	,	,	PUNCT
fbem-27778	35	13	the	the	DET
fbem-27778	35	14	maximum	maximum	ADJ
fbem-27778	35	15	variance	variance	NOUN
fbem-27778	35	16	orthogonal	orthogonal	ADJ
fbem-27778	35	17	rotation	rotation	NOUN
fbem-27778	35	18	method	method	NOUN
fbem-27778	35	19	is	be	AUX
fbem-27778	35	20	used	use	VERB
fbem-27778	35	21	to	to	PART
fbem-27778	35	22	process	process	VERB
fbem-27778	35	23	the	the	DET
fbem-27778	35	24	eight	eight	NUM
fbem-27778	35	25	principal	principal	ADJ
fbem-27778	35	26	component	component	NOUN
fbem-27778	35	27	factors	factor	NOUN
fbem-27778	35	28	extracted	extract	VERB
fbem-27778	35	29	before	before	ADV
fbem-27778	35	30	.	.	PUNCT
fbem-27778	36	1	the	the	DET
fbem-27778	36	2	rotated	rotate	VERB
fbem-27778	36	3	factor	factor	NOUN
fbem-27778	36	4	loading	loading	NOUN
fbem-27778	36	5	matrix	matrix	NOUN
fbem-27778	36	6	is	be	AUX
fbem-27778	36	7	shown	show	VERB
fbem-27778	36	8	in	in	ADP
fbem-27778	36	9	table	table	NOUN
fbem-27778	36	10	2	2	NUM
fbem-27778	36	11	.	.	PUNCT
fbem-27778	36	12	table	table	NOUN
fbem-27778	36	13	2	2	NUM
fbem-27778	36	14	.	.	X
fbem-27778	36	15	factor	factor	NOUN
fbem-27778	36	16	loading	loading	NOUN
fbem-27778	36	17	matrix	matrix	NOUN
fbem-27778	36	18	after	after	SCONJ
fbem-27778	36	19	orthogonal	orthogonal	ADJ
fbem-27778	36	20	rotation	rotation	NOUN
fbem-27778	36	21	specific	specific	ADJ
fbem-27778	36	22	indicators	indicator	NOUN
fbem-27778	36	23	ingredient	ingredient	VERB
fbem-27778	36	24	f1	f1	NOUN
fbem-27778	36	25	f2	f2	PROPN
fbem-27778	36	26	f3	f3	VERB
fbem-27778	36	27	f4	f4	NUM
fbem-27778	36	28	f5	f5	PROPN
fbem-27778	36	29	f6	f6	PROPN
fbem-27778	36	30	f7	f7	PROPN
fbem-27778	36	31	f8	f8	PROPN
fbem-27778	36	32	gdp	gdp	PROPN
fbem-27778	36	33	gdp	gdp	PROPN
fbem-27778	36	34	per	per	ADP
fbem-27778	36	35	capita	capita	X
fbem-27778	36	36	year	year	NOUN
fbem-27778	36	37	-	-	PUNCT
fbem-27778	36	38	on	on	ADP
fbem-27778	36	39	-	-	PUNCT
fbem-27778	36	40	year	year	NOUN
fbem-27778	36	41	gdp	gdp	NOUN
fbem-27778	36	42	growth	growth	NOUN
fbem-27778	36	43	0.995	0.995	NUM
fbem-27778	36	44	0.979	0.979	NUM
fbem-27778	36	45	-0.511	-0.511	NUM
fbem-27778	36	46	-0.005	-0.005	NUM
fbem-27778	36	47	-0.013	-0.013	PUNCT
fbem-27778	36	48	0.006	0.006	NUM
fbem-27778	36	49	-0.023	-0.023	NUM
fbem-27778	36	50	-0.023	-0.023	NUM
fbem-27778	37	1	-0.053	-0.053	NUM
fbem-27778	37	2	0.002	0.002	NUM
fbem-27778	37	3	0.004	0.004	NUM
fbem-27778	37	4	0.034	0.034	NUM
fbem-27778	37	5	-0.013	-0.013	PUNCT
fbem-27778	37	6	-0.010	-0.010	PUNCT
fbem-27778	38	1	-0.001	-0.001	PUNCT
fbem-27778	38	2	-0.007	-0.007	NOUN
fbem-27778	38	3	0.005	0.005	NUM
fbem-27778	38	4	-0.049	-0.049	NUM
fbem-27778	38	5	0.005	0.005	NUM
fbem-27778	38	6	-0.023	-0.023	NUM
fbem-27778	38	7	0.709	0.709	NUM
fbem-27778	38	8	0.031	0.031	NUM
fbem-27778	38	9	0.025	0.025	NUM
fbem-27778	38	10	0.025	0.025	NUM
fbem-27778	38	11	debt	debt	NOUN
fbem-27778	38	12	ratio	ratio	NOUN
fbem-27778	38	13	debt	debt	NOUN
fbem-27778	38	14	ratio	ratio	NOUN
fbem-27778	38	15	urbanization	urbanization	NOUN
fbem-27778	38	16	rate	rate	NOUN
fbem-27778	38	17	tax	tax	NOUN
fbem-27778	38	18	revenue	revenue	NOUN
fbem-27778	38	19	financial	financial	ADJ
fbem-27778	38	20	self	self	NOUN
fbem-27778	38	21	-	-	PUNCT
fbem-27778	38	22	sufficiency	sufficiency	NOUN
fbem-27778	38	23	rate	rate	NOUN
fbem-27778	38	24	balance	balance	NOUN
fbem-27778	38	25	of	of	ADP
fbem-27778	38	26	local	local	ADJ
fbem-27778	38	27	government	government	NOUN
fbem-27778	38	28	debt	debt	NOUN
fbem-27778	38	29	local	local	ADJ
fbem-27778	38	30	public	public	ADJ
fbem-27778	38	31	finance	finance	NOUN
fbem-27778	38	32	revenue	revenue	NOUN
fbem-27778	38	33	year	year	NOUN
fbem-27778	38	34	-	-	PUNCT
fbem-27778	38	35	on	on	ADP
fbem-27778	38	36	-	-	PUNCT
fbem-27778	38	37	year	year	NOUN
fbem-27778	38	38	growth	growth	NOUN
fbem-27778	38	39	rate	rate	NOUN
fbem-27778	38	40	of	of	ADP
fbem-27778	38	41	local	local	ADJ
fbem-27778	38	42	public	public	ADJ
fbem-27778	38	43	revenue	revenue	NOUN
fbem-27778	39	1	0.978	0.978	NUM
fbem-27778	39	2	0.968	0.968	NUM
fbem-27778	39	3	0.945	0.945	NUM
fbem-27778	39	4	0.971	0.971	NUM
fbem-27778	39	5	0.701	0.701	NUM
fbem-27778	39	6	0.987	0.987	NUM
fbem-27778	39	7	1.001	1.001	NUM
fbem-27778	39	8	0.081	0.081	NUM
fbem-27778	39	9	-0.018	-0.018	NUM
fbem-27778	39	10	0.001	0.001	NUM
fbem-27778	39	11	-0.047	-0.047	NOUN
fbem-27778	39	12	-0.022	-0.022	ADP
fbem-27778	39	13	0.023	0.023	NUM
fbem-27778	39	14	-0.004	-0.004	SYM
fbem-27778	39	15	-0.003	-0.003	NUM
fbem-27778	39	16	-0.017	-0.017	PUNCT
fbem-27778	39	17	0.029	0.029	NUM
fbem-27778	39	18	0.031	0.031	NUM
fbem-27778	39	19	-0.012	-0.012	INTJ
fbem-27778	39	20	-0.031	-0.031	NOUN
fbem-27778	39	21	0.021	0.021	NUM
fbem-27778	39	22	0.010	0.010	NUM
fbem-27778	39	23	-0.007	-0.007	PUNCT
fbem-27778	39	24	-0.027	-0.027	NUM
fbem-27778	39	25	-0.019	-0.019	X
fbem-27778	39	26	-0.029	-0.029	NOUN
fbem-27778	39	27	0.028	0.028	NUM
fbem-27778	39	28	0.019	0.019	NUM
fbem-27778	39	29	-0.029	-0.029	PROPN
fbem-27778	39	30	-0.026	-0.026	PUNCT
fbem-27778	39	31	-0.009	-0.009	PROPN
fbem-27778	39	32	0.034	0.034	NUM
fbem-27778	39	33	-0.003	-0.003	NUM
fbem-27778	39	34	0.008	0.008	NUM
fbem-27778	39	35	-0.025	-0.025	NOUN
fbem-27778	39	36	-0.024	-0.024	NUM
fbem-27778	39	37	0.007	0.007	NUM
fbem-27778	39	38	-0.006	-0.006	X
fbem-27778	39	39	-0.011	-0.011	PRON
fbem-27778	39	40	-0.007	-0.007	PUNCT
fbem-27778	39	41	0.034	0.034	NUM
fbem-27778	39	42	0.057	0.057	NUM
fbem-27778	39	43	-0.020	-0.020	NOUN
fbem-27778	39	44	-0.044	-0.044	PROPN
fbem-27778	39	45	0.025	0.025	NUM
fbem-27778	39	46	0.015	0.015	NUM
fbem-27778	39	47	-0.009	-0.009	X
fbem-27778	39	48	-0.015	-0.015	PROPN
fbem-27778	39	49	0.043	0.043	NUM
fbem-27778	39	50	0.165	0.165	NUM
fbem-27778	39	51	-0.082	-0.082	NUM
fbem-27778	39	52	0.107	0.107	NUM
fbem-27778	39	53	0.736	0.736	NUM
fbem-27778	39	54	0.022	0.022	NUM
fbem-27778	39	55	0.075	0.075	NUM
fbem-27778	39	56	0.937	0.937	NUM
fbem-27778	39	57	-0.032	-0.032	ADP
fbem-27778	39	58	-0.054	-0.054	PROPN
fbem-27778	39	59	0.039	0.039	NUM
fbem-27778	39	60	0.041	0.041	NUM
fbem-27778	39	61	-0.057	-0.057	NUM
fbem-27778	39	62	-0.004	-0.004	PUNCT
fbem-27778	39	63	0.013	0.013	NUM
fbem-27778	39	64	0.020	0.020	NUM
fbem-27778	39	65	interest	interest	NOUN
fbem-27778	39	66	-	-	PUNCT
fbem-27778	39	67	bearing	bear	VERB
fbem-27778	39	68	debt	debt	NOUN
fbem-27778	39	69	current	current	ADJ
fbem-27778	39	70	ratio	ratio	NOUN
fbem-27778	39	71	quick	quick	ADJ
fbem-27778	39	72	ratio	ratio	NOUN
fbem-27778	39	73	interest	interest	NOUN
fbem-27778	39	74	-	-	PUNCT
fbem-27778	39	75	bearing	bear	VERB
fbem-27778	39	76	liabilities	liability	NOUN
fbem-27778	39	77	short	short	ADJ
fbem-27778	39	78	-	-	PUNCT
fbem-27778	39	79	term	term	NOUN
fbem-27778	39	80	debt	debt	NOUN
fbem-27778	39	81	cash	cash	NOUN
fbem-27778	39	82	turnover	turnover	NOUN
fbem-27778	39	83	return	return	NOUN
fbem-27778	39	84	on	on	ADP
fbem-27778	39	85	equity	equity	NOUN
fbem-27778	39	86	return	return	NOUN
fbem-27778	39	87	on	on	ADP
fbem-27778	39	88	total	total	ADJ
fbem-27778	39	89	assets	asset	NOUN
fbem-27778	39	90	turnover	turnover	NOUN
fbem-27778	39	91	of	of	ADP
fbem-27778	39	92	total	total	ADJ
fbem-27778	39	93	assets	asset	NOUN
fbem-27778	39	94	cash	cash	NOUN
fbem-27778	39	95	-	-	PUNCT
fbem-27778	39	96	to	to	ADP
fbem-27778	39	97	-	-	PUNCT
fbem-27778	39	98	maturity	maturity	NOUN
fbem-27778	39	99	debt	debt	NOUN
fbem-27778	39	100	ratio	ratio	NOUN
fbem-27778	39	101	total	total	NOUN
fbem-27778	39	102	profit	profit	NOUN
fbem-27778	39	103	/	/	SYM
fbem-27778	39	104	total	total	ADJ
fbem-27778	39	105	assets	asset	NOUN
fbem-27778	39	106	registered	register	VERB
fbem-27778	39	107	capital	capital	NOUN
fbem-27778	39	108	(	(	PUNCT
fbem-27778	39	109	rmb	rmb	NOUN
fbem-27778	39	110	100	100	NUM
fbem-27778	39	111	million	million	NUM
fbem-27778	39	112	)	)	PUNCT
fbem-27778	39	113	total	total	ADJ
fbem-27778	39	114	assets	asset	NOUN
fbem-27778	39	115	(	(	PUNCT
fbem-27778	39	116	100	100	NUM
fbem-27778	39	117	million	million	NUM
fbem-27778	39	118	yuan	yuan	NOUN
fbem-27778	39	119	)	)	PUNCT
fbem-27778	39	120	operating	operate	VERB
fbem-27778	39	121	income	income	NOUN
fbem-27778	39	122	(	(	PUNCT
fbem-27778	39	123	100	100	NUM
fbem-27778	39	124	million	million	NUM
fbem-27778	39	125	yuan	yuan	NOUN
fbem-27778	39	126	)	)	PUNCT
fbem-27778	39	127	total	total	ADJ
fbem-27778	39	128	profit	profit	NOUN
fbem-27778	39	129	(	(	PUNCT
fbem-27778	39	130	100	100	NUM
fbem-27778	39	131	million	million	NUM
fbem-27778	39	132	yuan	yuan	NOUN
fbem-27778	39	133	)	)	PUNCT
fbem-27778	39	134	total	total	ADJ
fbem-27778	39	135	owner	owner	NOUN
fbem-27778	39	136	's	's	PART
fbem-27778	39	137	equity	equity	NOUN
fbem-27778	39	138	(	(	PUNCT
fbem-27778	39	139	100	100	NUM
fbem-27778	39	140	million	million	NUM
fbem-27778	39	141	yuan	yuan	NOUN
fbem-27778	39	142	)	)	PUNCT
fbem-27778	39	143	net	net	ADJ
fbem-27778	39	144	cash	cash	NOUN
fbem-27778	39	145	flow	flow	NOUN
fbem-27778	39	146	from	from	ADP
fbem-27778	39	147	operating	operating	NOUN
fbem-27778	39	148	activities	activity	NOUN
fbem-27778	39	149	net	net	ADJ
fbem-27778	39	150	cash	cash	NOUN
fbem-27778	39	151	flow	flow	NOUN
fbem-27778	39	152	from	from	ADP
fbem-27778	39	153	operating	operate	VERB
fbem-27778	39	154	activities	activity	NOUN
fbem-27778	39	155	/	/	SYM
fbem-27778	39	156	interest	interest	NOUN
fbem-27778	39	157	-	-	PUNCT
fbem-27778	39	158	bearing	bear	VERB
fbem-27778	39	159	liabilities	liability	NOUN
fbem-27778	39	160	0.051	0.051	NUM
fbem-27778	39	161	-0.094	-0.094	NOUN
fbem-27778	39	162	-0.031	-0.031	NUM
fbem-27778	39	163	-0.049	-0.049	PUNCT
fbem-27778	39	164	0.033	0.033	NUM
fbem-27778	39	165	0.104	0.104	NUM
fbem-27778	39	166	0.000	0.000	NUM
fbem-27778	39	167	-0.002	-0.002	NUM
fbem-27778	39	168	0.090	0.090	NUM
fbem-27778	39	169	-0.069	-0.069	NOUN
fbem-27778	39	170	-0.036	-0.036	SYM
fbem-27778	39	171	-0.097	-0.097	X
fbem-27778	39	172	-0.021	-0.021	NUM
fbem-27778	40	1	-0.053	-0.053	NUM
fbem-27778	40	2	0.061	0.061	NUM
fbem-27778	40	3	0.015	0.015	NUM
fbem-27778	40	4	-0.022	-0.022	NUM
fbem-27778	40	5	0.058	0.058	NUM
fbem-27778	40	6	-0.055	-0.055	NOUN
fbem-27778	40	7	-0.055	-0.055	PUNCT
fbem-27778	40	8	0.052	0.052	NUM
fbem-27778	40	9	1.006	1.006	NUM
fbem-27778	40	10	0.986	0.986	NUM
fbem-27778	40	11	-0.137	-0.137	X
fbem-27778	40	12	-0.319	-0.319	PROPN
fbem-27778	40	13	0.193	0.193	NUM
fbem-27778	40	14	0.510	0.510	NUM
fbem-27778	40	15	-0.011	-0.011	NOUN
fbem-27778	40	16	-0.094	-0.094	VERB
fbem-27778	40	17	0.866	0.866	NUM
fbem-27778	40	18	1.004	1.004	NUM
fbem-27778	40	19	1.011	1.011	NUM
fbem-27778	40	20	0.931	0.931	NUM
fbem-27778	40	21	0.100	0.100	NUM
fbem-27778	40	22	0.799	0.799	NUM
fbem-27778	40	23	-0.011	-0.011	NOUN
fbem-27778	40	24	-0.590	-0.590	PUNCT
fbem-27778	40	25	-0.021	-0.021	NOUN
fbem-27778	40	26	0.074	0.074	NUM
fbem-27778	40	27	-0.071	-0.071	X
fbem-27778	40	28	-0.092	-0.092	PUNCT
fbem-27778	40	29	-0.079	-0.079	X
fbem-27778	40	30	0.885	0.885	NUM
fbem-27778	40	31	0.868	0.868	NUM
fbem-27778	40	32	0.299	0.299	NUM
fbem-27778	40	33	-0.019	-0.019	NUM
fbem-27778	40	34	0.933	0.933	NUM
fbem-27778	40	35	-0.035	-0.035	NOUN
fbem-27778	40	36	-0.062	-0.062	PRON
fbem-27778	40	37	-0.048	-0.048	NOUN
fbem-27778	40	38	0.201	0.201	NUM
fbem-27778	40	39	-0.047	-0.047	PUNCT
fbem-27778	40	40	-0.019	-0.019	PUNCT
fbem-27778	40	41	0.049	0.049	NUM
fbem-27778	40	42	0.051	0.051	NUM
fbem-27778	40	43	-0.044	-0.044	PROPN
fbem-27778	40	44	0.201	0.201	NUM
fbem-27778	40	45	-0.014	-0.014	NOUN
fbem-27778	40	46	-0.019	-0.019	PUNCT
fbem-27778	40	47	0.132	0.132	NUM
fbem-27778	40	48	-0.055	-0.055	X
fbem-27778	40	49	-0.004	-0.004	NUM
fbem-27778	40	50	0.122	0.122	NUM
fbem-27778	40	51	0.091	0.091	NUM
fbem-27778	40	52	-0.046	-0.046	NUM
fbem-27778	40	53	0.167	0.167	NUM
fbem-27778	40	54	-0.004	-0.004	PUNCT
fbem-27778	40	55	-0.057	-0.057	NUM
fbem-27778	40	56	0.019	0.019	NUM
fbem-27778	40	57	0.006	0.006	NUM
fbem-27778	40	58	-0.201	-0.201	NUM
fbem-27778	40	59	0.089	0.089	NUM
fbem-27778	40	60	0.064	0.064	NUM
fbem-27778	40	61	0.853	0.853	NUM
fbem-27778	40	62	0.901	0.901	NUM
fbem-27778	40	63	0.002	0.002	NUM
fbem-27778	40	64	-0.039	-0.039	PUNCT
fbem-27778	40	65	0.027	0.027	NUM
fbem-27778	40	66	0.008	0.008	NUM
fbem-27778	40	67	-0.063	-0.063	NUM
fbem-27778	40	68	-0.073	-0.073	PUNCT
fbem-27778	40	69	-0.234	-0.234	PUNCT
fbem-27778	40	70	0.126	0.126	NUM
fbem-27778	40	71	-0.064	-0.064	NOUN
fbem-27778	40	72	-0.019	-0.019	PUNCT
fbem-27778	40	73	0.028	0.028	NUM
fbem-27778	40	74	0.036	0.036	NUM
fbem-27778	40	75	0.029	0.029	NUM
fbem-27778	40	76	0.058	0.058	NUM
fbem-27778	40	77	0.010	0.010	NUM
fbem-27778	40	78	-0.095	-0.095	NUM
fbem-27778	40	79	-0.056	-0.056	PROPN
fbem-27778	40	80	0.019	0.019	NUM
fbem-27778	40	81	-0.034	-0.034	NOUN
fbem-27778	40	82	-0.031	-0.031	NOUN
fbem-27778	40	83	-0.034	-0.034	NOUN
fbem-27778	40	84	-0.038	-0.038	X
fbem-27778	40	85	0.000	0.000	NUM
fbem-27778	40	86	-0.131	-0.131	NUM
fbem-27778	40	87	0.794	0.794	NUM
fbem-27778	40	88	0.046	0.046	NUM
fbem-27778	40	89	-0.059	-0.059	NUM
fbem-27778	40	90	-0.023	-0.023	PUNCT
fbem-27778	40	91	-0.032	-0.032	ADP
fbem-27778	40	92	-0.025	-0.025	PROPN
fbem-27778	40	93	0.001	0.001	NUM
fbem-27778	40	94	0.391	0.391	NUM
fbem-27778	40	95	0.935	0.935	NUM
fbem-27778	40	96	-0.033	-0.033	NUM
fbem-27778	40	97	0.006	0.006	NUM
fbem-27778	40	98	-0.008	-0.008	NOUN
fbem-27778	40	99	-0.004	-0.004	PUNCT
fbem-27778	40	100	0.004	0.004	NUM
fbem-27778	40	101	-0.021	-0.021	NOUN
fbem-27778	40	102	-0.035	-0.035	PROPN
fbem-27778	40	103	0.001	0.001	NUM
fbem-27778	40	104	0.007	0.007	NUM
fbem-27778	40	105	-0.053	-0.053	NUM
fbem-27778	40	106	-0.023	-0.023	NUM
fbem-27778	40	107	0.001	0.001	NUM
fbem-27778	40	108	-0.006	-0.006	X
fbem-27778	40	109	-0.001	-0.001	X
fbem-27778	40	110	-0.005	-0.005	PUNCT
fbem-27778	40	111	-0.005	-0.005	PUNCT
fbem-27778	41	1	0.011	0.011	NUM
fbem-27778	41	2	0.015	0.015	NUM
fbem-27778	41	3	-0.317	-0.317	NUM
fbem-27778	41	4	0.073	0.073	NUM
fbem-27778	41	5	-0.043	-0.043	PUNCT
fbem-27778	41	6	-0.025	-0.025	PUNCT
fbem-27778	41	7	-0.051	-0.051	NUM
fbem-27778	41	8	0.931	0.931	NUM
fbem-27778	41	9	-0.166	-0.166	PUNCT
fbem-27778	41	10	0.028	0.028	NUM
fbem-27778	41	11	0.351	0.351	NUM
fbem-27778	41	12	-0.080	-0.080	NOUN
fbem-27778	41	13	-0.066	-0.066	PUNCT
fbem-27778	42	1	-0.053	-0.053	PUNCT
fbem-27778	42	2	-0.032	-0.032	ADP
fbem-27778	42	3	0.018	0.018	NUM
fbem-27778	42	4	-0.097	-0.097	PUNCT
fbem-27778	42	5	-0.051	-0.051	NUM
fbem-27778	42	6	0.081	0.081	NUM
fbem-27778	42	7	0.019	0.019	NUM
fbem-27778	42	8	coupon	coupon	NOUN
fbem-27778	42	9	rate	rate	NOUN
fbem-27778	42	10	-0.385	-0.385	PUNCT
fbem-27778	42	11	-0.198	-0.198	ADV
fbem-27778	42	12	-0.137	-0.137	X
fbem-27778	42	13	-0.369	-0.369	PUNCT
fbem-27778	42	14	-0.006	-0.006	PROPN
fbem-27778	42	15	0.031	0.031	NUM
fbem-27778	42	16	0.098	0.098	NUM
fbem-27778	42	17	0.403	0.403	NUM
fbem-27778	42	18	term	term	NOUN
fbem-27778	42	19	of	of	ADP
fbem-27778	42	20	issue	issue	NOUN
fbem-27778	42	21	(	(	PUNCT
fbem-27778	42	22	years	year	NOUN
fbem-27778	42	23	)	)	PUNCT
fbem-27778	42	24	-0.441	-0.441	PUNCT
fbem-27778	43	1	0.018	0.018	NUM
fbem-27778	43	2	0.133	0.133	NUM
fbem-27778	43	3	0.183	0.183	NUM
fbem-27778	43	4	-0.153	-0.153	NOUN
fbem-27778	43	5	-0.131	-0.131	PUNCT
fbem-27778	43	6	0.116	0.116	NUM
fbem-27778	43	7	-0.082	-0.082	PROPN
fbem-27778	43	8	issue	issue	NOUN
fbem-27778	43	9	size	size	NOUN
fbem-27778	43	10	(	(	PUNCT
fbem-27778	43	11	100	100	NUM
fbem-27778	43	12	million	million	NUM
fbem-27778	43	13	yuan	yuan	NOUN
fbem-27778	43	14	)	)	PUNCT
fbem-27778	43	15	-0.145	-0.145	PUNCT
fbem-27778	43	16	-0.034	-0.034	PUNCT
fbem-27778	43	17	-0.051	-0.051	NOUN
fbem-27778	43	18	0.995	0.995	NUM
fbem-27778	43	19	0.053	0.053	NUM
fbem-27778	43	20	0.089	0.089	NUM
fbem-27778	43	21	0.038	0.038	NUM
fbem-27778	43	22	0.068	0.068	NUM
fbem-27778	43	23	balance	balance	NOUN
fbem-27778	43	24	of	of	ADP
fbem-27778	43	25	bonds	bond	NOUN
fbem-27778	43	26	(	(	PUNCT
fbem-27778	43	27	100	100	NUM
fbem-27778	43	28	million	million	NUM
fbem-27778	43	29	yuan	yuan	NOUN
fbem-27778	43	30	)	)	PUNCT
fbem-27778	43	31	0.089	0.089	NUM
fbem-27778	43	32	0.000	0.000	NUM
fbem-27778	43	33	-0.062	-0.062	NUM
fbem-27778	43	34	0.972	0.972	NUM
fbem-27778	43	35	0.027	0.027	NUM
fbem-27778	43	36	0.058	0.058	NUM
fbem-27778	43	37	0.019	0.019	NUM
fbem-27778	43	38	0.103	0.103	NUM
fbem-27778	43	39	(	(	PUNCT
fbem-27778	43	40	3	3	NUM
fbem-27778	43	41	)	)	PUNCT
fbem-27778	43	42	nomenclature	nomenclature	NOUN
fbem-27778	43	43	of	of	ADP
fbem-27778	43	44	principal	principal	ADJ
fbem-27778	43	45	factor	factor	NOUN
fbem-27778	43	46	through	through	ADP
fbem-27778	43	47	principal	principal	ADJ
fbem-27778	43	48	component	component	NOUN
fbem-27778	43	49	analysis	analysis	NOUN
fbem-27778	43	50	,	,	PUNCT
fbem-27778	43	51	8	8	NUM
fbem-27778	43	52	common	common	ADJ
fbem-27778	43	53	factors	factor	NOUN
fbem-27778	43	54	are	be	AUX
fbem-27778	43	55	extracted	extract	VERB
fbem-27778	43	56	,	,	PUNCT
fbem-27778	43	57	as	as	SCONJ
fbem-27778	43	58	shown	show	VERB
fbem-27778	43	59	in	in	ADP
fbem-27778	43	60	table	table	NOUN
fbem-27778	43	61	3	3	NUM
fbem-27778	43	62	:	:	SYM
fbem-27778	43	63	452	452	NUM
fbem-27778	43	64	table	table	NOUN
fbem-27778	43	65	3	3	NUM
fbem-27778	43	66	.	.	PUNCT
fbem-27778	43	67	index	index	NOUN
fbem-27778	43	68	system	system	NOUN
fbem-27778	43	69	of	of	ADP
fbem-27778	43	70	multi	multi	ADJ
fbem-27778	43	71	-	-	ADJ
fbem-27778	43	72	factor	factor	NOUN
fbem-27778	43	73	explanatory	explanatory	ADJ
fbem-27778	43	74	variables	variable	VERB
fbem-27778	43	75	classification	classification	NOUN
fbem-27778	43	76	of	of	ADP
fbem-27778	43	77	indicators	indicator	NOUN
fbem-27778	43	78	specific	specific	ADJ
fbem-27778	43	79	indicators	indicator	NOUN
fbem-27778	43	80	and	and	CCONJ
fbem-27778	43	81	abbreviations	abbreviation	NOUN
fbem-27778	43	82	local	local	ADJ
fbem-27778	43	83	economic	economic	ADJ
fbem-27778	43	84	and	and	CCONJ
fbem-27778	43	85	financial	financial	ADJ
fbem-27778	43	86	strength	strength	NOUN
fbem-27778	43	87	(	(	PUNCT
fbem-27778	43	88	f1	f1	NOUN
fbem-27778	43	89	)	)	PUNCT
fbem-27778	43	90	gdp	gdp	PROPN
fbem-27778	43	91	/	/	SYM
fbem-27778	43	92	gdp	gdp	PROPN
fbem-27778	43	93	gdp	gdp	NOUN
fbem-27778	43	94	per	per	ADP
fbem-27778	43	95	capita	capita	X
fbem-27778	43	96	urbanization	urbanization	NOUN
fbem-27778	43	97	rate	rate	NOUN
fbem-27778	43	98	fiscal	fiscal	ADJ
fbem-27778	43	99	revenue	revenue	NOUN
fbem-27778	43	100	of	of	ADP
fbem-27778	43	101	local	local	ADJ
fbem-27778	43	102	government	government	NOUN
fbem-27778	43	103	tax	tax	NOUN
fbem-27778	43	104	revenue	revenue	NOUN
fbem-27778	43	105	debt	debt	NOUN
fbem-27778	43	106	ratio	ratio	NOUN
fbem-27778	43	107	debt	debt	NOUN
fbem-27778	43	108	ratio	ratio	NOUN
fbem-27778	43	109	capital	capital	NOUN
fbem-27778	43	110	structure	structure	NOUN
fbem-27778	43	111	(	(	PUNCT
fbem-27778	43	112	f2	f2	PROPN
fbem-27778	43	113	)	)	PUNCT
fbem-27778	43	114	total	total	ADJ
fbem-27778	43	115	assets	asset	NOUN
fbem-27778	43	116	owner	owner	NOUN
fbem-27778	43	117	's	's	PART
fbem-27778	43	118	equity	equity	NOUN
fbem-27778	43	119	operating	operate	VERB
fbem-27778	43	120	income	income	NOUN
fbem-27778	43	121	total	total	ADJ
fbem-27778	43	122	profit	profit	NOUN
fbem-27778	43	123	interest	interest	NOUN
fbem-27778	43	124	-	-	PUNCT
fbem-27778	43	125	bearing	bear	VERB
fbem-27778	43	126	liabilities	liability	NOUN
fbem-27778	43	127	net	net	ADJ
fbem-27778	43	128	cash	cash	NOUN
fbem-27778	43	129	flow	flow	NOUN
fbem-27778	43	130	from	from	ADP
fbem-27778	43	131	operating	operating	NOUN
fbem-27778	43	132	activities	activity	NOUN
fbem-27778	43	133	short	short	ADJ
fbem-27778	43	134	-	-	PUNCT
fbem-27778	43	135	term	term	NOUN
fbem-27778	43	136	debt	debt	NOUN
fbem-27778	43	137	profitability	profitability	NOUN
fbem-27778	43	138	(	(	PUNCT
fbem-27778	43	139	f3	f3	ADJ
fbem-27778	43	140	)	)	PUNCT
fbem-27778	43	141	total	total	ADJ
fbem-27778	43	142	profit	profit	NOUN
fbem-27778	43	143	/	/	SYM
fbem-27778	43	144	total	total	ADJ
fbem-27778	43	145	assets	asset	NOUN
fbem-27778	43	146	return	return	VERB
fbem-27778	43	147	on	on	ADP
fbem-27778	43	148	equity	equity	NOUN
fbem-27778	43	149	roe	roe	PROPN
fbem-27778	43	150	return	return	NOUN
fbem-27778	43	151	on	on	ADP
fbem-27778	43	152	total	total	ADJ
fbem-27778	43	153	assets	asset	NOUN
fbem-27778	43	154	(	(	PUNCT
fbem-27778	43	155	roa	roa	NOUN
fbem-27778	43	156	)	)	PUNCT
fbem-27778	43	157	debt	debt	NOUN
fbem-27778	43	158	factor	factor	NOUN
fbem-27778	43	159	(	(	PUNCT
fbem-27778	43	160	f4	f4	NOUN
fbem-27778	43	161	)	)	PUNCT
fbem-27778	43	162	issue	issue	NOUN
fbem-27778	43	163	size	size	NOUN
fbem-27778	43	164	bond	bond	NOUN
fbem-27778	43	165	balance	balance	NOUN
fbem-27778	43	166	liquidity	liquidity	NOUN
fbem-27778	43	167	of	of	ADP
fbem-27778	43	168	assets	asset	NOUN
fbem-27778	43	169	(	(	PUNCT
fbem-27778	43	170	f5	f5	PROPN
fbem-27778	43	171	)	)	PUNCT
fbem-27778	43	172	current	current	ADJ
fbem-27778	43	173	ratio	ratio	NOUN
fbem-27778	43	174	quick	quick	ADJ
fbem-27778	43	175	ratio	ratio	NOUN
fbem-27778	43	176	solvency	solvency	NOUN
fbem-27778	43	177	(	(	PUNCT
fbem-27778	43	178	f6	f6	PROPN
fbem-27778	43	179	)	)	PUNCT
fbem-27778	43	180	net	net	ADJ
fbem-27778	43	181	cash	cash	NOUN
fbem-27778	43	182	flow	flow	NOUN
fbem-27778	43	183	from	from	ADP
fbem-27778	43	184	operating	operate	VERB
fbem-27778	43	185	activities	activity	NOUN
fbem-27778	43	186	/	/	SYM
fbem-27778	43	187	interest	interest	NOUN
fbem-27778	43	188	-	-	PUNCT
fbem-27778	43	189	bearing	bear	VERB
fbem-27778	43	190	liabilities	liability	NOUN
fbem-27778	43	191	cash	cash	NOUN
fbem-27778	43	192	-	-	PUNCT
fbem-27778	43	193	to	to	ADP
fbem-27778	43	194	-	-	PUNCT
fbem-27778	43	195	maturity	maturity	NOUN
fbem-27778	43	196	debt	debt	NOUN
fbem-27778	43	197	ratio	ratio	NOUN
fbem-27778	43	198	local	local	ADJ
fbem-27778	43	199	economic	economic	ADJ
fbem-27778	43	200	and	and	CCONJ
fbem-27778	43	201	financial	financial	ADJ
fbem-27778	43	202	growth	growth	NOUN
fbem-27778	43	203	(	(	PUNCT
fbem-27778	43	204	f7	f7	PROPN
fbem-27778	43	205	)	)	PUNCT
fbem-27778	43	206	gdp	gdp	NOUN
fbem-27778	43	207	growth	growth	NOUN
fbem-27778	43	208	growth	growth	NOUN
fbem-27778	43	209	rate	rate	NOUN
fbem-27778	43	210	of	of	ADP
fbem-27778	43	211	local	local	ADJ
fbem-27778	43	212	public	public	ADJ
fbem-27778	43	213	finance	finance	NOUN
fbem-27778	43	214	revenue	revenue	NOUN
fbem-27778	43	215	asset	asset	NOUN
fbem-27778	43	216	management	management	NOUN
fbem-27778	43	217	efficiency	efficiency	NOUN
fbem-27778	43	218	(	(	PUNCT
fbem-27778	43	219	f8	f8	ADJ
fbem-27778	43	220	)	)	PUNCT
fbem-27778	43	221	cash	cash	NOUN
fbem-27778	43	222	turnover	turnover	NOUN
fbem-27778	43	223	3.4	3.4	NUM
fbem-27778	43	224	.	.	PUNCT
fbem-27778	43	225	model	model	NOUN
fbem-27778	43	226	construction	construction	NOUN
fbem-27778	43	227	and	and	CCONJ
fbem-27778	43	228	analysis	analysis	NOUN
fbem-27778	43	229	this	this	DET
fbem-27778	43	230	paper	paper	NOUN
fbem-27778	43	231	constructs	construct	VERB
fbem-27778	43	232	the	the	DET
fbem-27778	43	233	following	follow	VERB
fbem-27778	43	234	multiple	multiple	ADJ
fbem-27778	43	235	regression	regression	NOUN
fbem-27778	43	236	model	model	NOUN
fbem-27778	43	237	to	to	PART
fbem-27778	43	238	examine	examine	VERB
fbem-27778	43	239	the	the	DET
fbem-27778	43	240	impact	impact	NOUN
fbem-27778	43	241	of	of	ADP
fbem-27778	43	242	variables	variable	NOUN
fbem-27778	43	243	on	on	ADP
fbem-27778	43	244	the	the	DET
fbem-27778	43	245	credit	credit	NOUN
fbem-27778	43	246	of	of	ADP
fbem-27778	43	247	urban	urban	ADJ
fbem-27778	43	248	investment	investment	NOUN
fbem-27778	43	249	bonds	bond	NOUN
fbem-27778	43	250	.	.	PUNCT
fbem-27778	44	1	where	where	SCONJ
fbem-27778	44	2	csi	csi	PROPN
fbem-27778	44	3	it	it	PRON
fbem-27778	44	4	is	be	AUX
fbem-27778	44	5	the	the	DET
fbem-27778	44	6	credit	credit	NOUN
fbem-27778	44	7	spread	spread	NOUN
fbem-27778	44	8	for	for	ADP
fbem-27778	44	9	the	the	DET
fbem-27778	44	10	issuance	issuance	NOUN
fbem-27778	44	11	of	of	ADP
fbem-27778	44	12	urban	urban	ADJ
fbem-27778	44	13	investment	investment	NOUN
fbem-27778	44	14	bonds	bond	NOUN
fbem-27778	44	15	.	.	PUNCT
fbem-27778	45	1	variables	variable	NOUN
fbem-27778	45	2	f5	f5	PROPN
fbem-27778	45	3	and	and	CCONJ
fbem-27778	45	4	f6	f6	PROPN
fbem-27778	45	5	were	be	AUX
fbem-27778	45	6	removed	remove	VERB
fbem-27778	45	7	by	by	ADP
fbem-27778	45	8	stepwise	stepwise	ADJ
fbem-27778	45	9	regression	regression	NOUN
fbem-27778	45	10	analysis	analysis	NOUN
fbem-27778	45	11	using	use	VERB
fbem-27778	45	12	stata	stata	NOUN
fbem-27778	45	13	software	software	NOUN
fbem-27778	45	14	and	and	CCONJ
fbem-27778	45	15	a	a	DET
fbem-27778	45	16	screening	screening	NOUN
fbem-27778	45	17	process	process	NOUN
fbem-27778	45	18	of	of	ADP
fbem-27778	45	19	backward	backward	ADJ
fbem-27778	45	20	elimination	elimination	NOUN
fbem-27778	45	21	,	,	PUNCT
fbem-27778	45	22	and	and	CCONJ
fbem-27778	45	23	the	the	DET
fbem-27778	45	24	remaining	remain	VERB
fbem-27778	45	25	factors	factor	NOUN
fbem-27778	45	26	were	be	AUX
fbem-27778	45	27	statistically	statistically	ADV
fbem-27778	45	28	significant	significant	ADJ
fbem-27778	45	29	at	at	ADP
fbem-27778	45	30	the	the	DET
fbem-27778	45	31	1	1	NUM
fbem-27778	45	32	%	%	NOUN
fbem-27778	45	33	significance	significance	NOUN
fbem-27778	45	34	level	level	NOUN
fbem-27778	45	35	,	,	PUNCT
fbem-27778	45	36	as	as	SCONJ
fbem-27778	45	37	shown	show	VERB
fbem-27778	45	38	in	in	ADP
fbem-27778	45	39	table	table	NOUN
fbem-27778	45	40	4	4	NUM
fbem-27778	45	41	.	.	PUNCT
fbem-27778	46	1	csi	csi	NOUN
fbem-27778	46	2	=	=	PRON
fbem-27778	46	3	β0+β1×f1+β2×f2+β3×f3+β4×f4+β5×f5+β6×f6+β7×f7	β0+β1×f1+β2×f2+β3×f3+β4×f4+β5×f5+β6×f6+β7×f7	ADV
fbem-27778	46	4	+	+	X
fbem-27778	46	5	β8×f8	β8×f8	X
fbem-27778	46	6	(	(	PUNCT
fbem-27778	46	7	2	2	NUM
fbem-27778	46	8	)	)	PUNCT
fbem-27778	46	9	table	table	NOUN
fbem-27778	46	10	4	4	NUM
fbem-27778	46	11	.	.	PUNCT
fbem-27778	47	1	regression	regression	NOUN
fbem-27778	47	2	results	result	NOUN
fbem-27778	47	3	(	(	PUNCT
fbem-27778	47	4	1	1	X
fbem-27778	47	5	)	)	PUNCT
fbem-27778	47	6	ctedit_spread	ctedit_spread	PROPN
fbem-27778	47	7	(	(	PUNCT
fbem-27778	47	8	2	2	X
fbem-27778	47	9	)	)	PUNCT
fbem-27778	47	10	ctedit_spread	ctedit_spread	PROPN
fbem-27778	47	11	(	(	PUNCT
fbem-27778	47	12	3	3	X
fbem-27778	47	13	)	)	PUNCT
fbem-27778	47	14	ctedit_spread	ctedit_spread	PROPN
fbem-27778	47	15	f1	f1	NOUN
fbem-27778	47	16	-0.302	-0.302	PUNCT
fbem-27778	47	17	*	*	PUNCT
fbem-27778	47	18	*	*	PUNCT
fbem-27778	47	19	*	*	PUNCT
fbem-27778	47	20	(	(	PUNCT
fbem-27778	47	21	-9.173	-9.173	NUM
fbem-27778	47	22	)	)	PUNCT
fbem-27778	47	23	-0.321	-0.321	PUNCT
fbem-27778	48	1	*	*	PUNCT
fbem-27778	48	2	*	*	PUNCT
fbem-27778	48	3	*	*	PUNCT
fbem-27778	48	4	(	(	PUNCT
fbem-27778	48	5	-9.690	-9.690	NOUN
fbem-27778	48	6	)	)	PUNCT
fbem-27778	48	7	-0.282	-0.282	PUNCT
fbem-27778	48	8	*	*	PUNCT
fbem-27778	48	9	*	*	PUNCT
fbem-27778	48	10	*	*	PUNCT
fbem-27778	48	11	(	(	PUNCT
fbem-27778	48	12	-9.468	-9.468	NOUN
fbem-27778	48	13	)	)	PUNCT
fbem-27778	48	14	f2	f2	NOUN
fbem-27778	48	15	-0.352	-0.352	VERB
fbem-27778	48	16	*	*	PUNCT
fbem-27778	48	17	*	*	PUNCT
fbem-27778	48	18	*	*	PUNCT
fbem-27778	48	19	(	(	PUNCT
fbem-27778	48	20	-9.631	-9.631	NOUN
fbem-27778	48	21	)	)	PUNCT
fbem-27778	49	1	-0.324	-0.324	PROPN
fbem-27778	50	1	*	*	PUNCT
fbem-27778	50	2	*	*	PUNCT
fbem-27778	50	3	*	*	PUNCT
fbem-27778	50	4	(	(	PUNCT
fbem-27778	50	5	-9.867	-9.867	NOUN
fbem-27778	50	6	)	)	PUNCT
fbem-27778	50	7	-0.301	-0.301	PUNCT
fbem-27778	51	1	*	*	PUNCT
fbem-27778	51	2	*	*	PUNCT
fbem-27778	51	3	*	*	PUNCT
fbem-27778	51	4	(	(	PUNCT
fbem-27778	51	5	-9.773	-9.773	NOUN
fbem-27778	51	6	)	)	PUNCT
fbem-27778	51	7	f3	f3	NOUN
fbem-27778	51	8	-0.224	-0.224	PUNCT
fbem-27778	51	9	*	*	PUNCT
fbem-27778	51	10	*	*	PUNCT
fbem-27778	51	11	*	*	PUNCT
fbem-27778	51	12	(	(	PUNCT
fbem-27778	51	13	-7.577	-7.577	NUM
fbem-27778	51	14	)	)	PUNCT
fbem-27778	51	15	-0.234	-0.234	PUNCT
fbem-27778	52	1	*	*	PUNCT
fbem-27778	52	2	*	*	PUNCT
fbem-27778	52	3	*	*	PUNCT
fbem-27778	52	4	(	(	PUNCT
fbem-27778	52	5	-7.533	-7.533	PROPN
fbem-27778	52	6	)	)	PUNCT
fbem-27778	52	7	-0.232	-0.232	PUNCT
fbem-27778	53	1	*	*	PUNCT
fbem-27778	53	2	*	*	PUNCT
fbem-27778	53	3	*	*	PUNCT
fbem-27778	53	4	(	(	PUNCT
fbem-27778	53	5	-7.403	-7.403	NOUN
fbem-27778	53	6	)	)	PUNCT
fbem-27778	54	1	f4	f4	DET
fbem-27778	54	2	-0.542	-0.542	NOUN
fbem-27778	54	3	*	*	PUNCT
fbem-27778	54	4	*	*	PUNCT
fbem-27778	54	5	*	*	PUNCT
fbem-27778	54	6	(	(	PUNCT
fbem-27778	54	7	-18.123	-18.123	NOUN
fbem-27778	54	8	)	)	PUNCT
fbem-27778	54	9	-0.522	-0.522	PUNCT
fbem-27778	55	1	*	*	PUNCT
fbem-27778	55	2	*	*	PUNCT
fbem-27778	55	3	*	*	PUNCT
fbem-27778	55	4	(	(	PUNCT
fbem-27778	55	5	-17.315	-17.315	PROPN
fbem-27778	55	6	)	)	PUNCT
fbem-27778	55	7	-0.542	-0.542	PUNCT
fbem-27778	55	8	*	*	PUNCT
fbem-27778	55	9	*	*	PUNCT
fbem-27778	55	10	*	*	PUNCT
fbem-27778	55	11	(	(	PUNCT
fbem-27778	55	12	-17.603	-17.603	NOUN
fbem-27778	55	13	)	)	PUNCT
fbem-27778	55	14	f5	f5	VERB
fbem-27778	55	15	0.032	0.032	NUM
fbem-27778	55	16	(	(	PUNCT
fbem-27778	55	17	0.773	0.773	NUM
fbem-27778	55	18	)	)	PUNCT
fbem-27778	55	19	f6	f6	PROPN
fbem-27778	55	20	0.062	0.062	NUM
fbem-27778	55	21	*	*	PUNCT
fbem-27778	55	22	*	*	PUNCT
fbem-27778	55	23	(	(	PUNCT
fbem-27778	55	24	2.176	2.176	NUM
fbem-27778	55	25	)	)	PUNCT
fbem-27778	55	26	0.062	0.062	NUM
fbem-27778	55	27	*	*	PUNCT
fbem-27778	55	28	*	*	PUNCT
fbem-27778	55	29	(	(	PUNCT
fbem-27778	55	30	2.131	2.131	NUM
fbem-27778	55	31	)	)	PUNCT
fbem-27778	55	32	f7	f7	PROPN
fbem-27778	55	33	f8	f8	PROPN
fbem-27778	55	34	constant	constant	ADJ
fbem-27778	55	35	term	term	NOUN
fbem-27778	55	36	0.162	0.162	NUM
fbem-27778	55	37	*	*	PUNCT
fbem-27778	55	38	*	*	PUNCT
fbem-27778	55	39	*	*	PUNCT
fbem-27778	55	40	(	(	PUNCT
fbem-27778	55	41	4.893	4.893	NUM
fbem-27778	55	42	)	)	PUNCT
fbem-27778	55	43	0.623	0.623	NUM
fbem-27778	55	44	*	*	PUNCT
fbem-27778	56	1	*	*	PUNCT
fbem-27778	56	2	*	*	PUNCT
fbem-27778	56	3	(	(	PUNCT
fbem-27778	56	4	19.579	19.579	NUM
fbem-27778	56	5	)	)	PUNCT
fbem-27778	56	6	2.682	2.682	NUM
fbem-27778	56	7	*	*	PUNCT
fbem-27778	56	8	*	*	PUNCT
fbem-27778	56	9	*	*	PUNCT
fbem-27778	56	10	(	(	PUNCT
fbem-27778	56	11	95.237	95.237	NUM
fbem-27778	56	12	)	)	PUNCT
fbem-27778	56	13	0.139	0.139	NUM
fbem-27778	57	1	*	*	PUNCT
fbem-27778	57	2	*	*	PUNCT
fbem-27778	57	3	*	*	PUNCT
fbem-27778	57	4	(	(	PUNCT
fbem-27778	57	5	4.973	4.973	NUM
fbem-27778	57	6	)	)	PUNCT
fbem-27778	57	7	0.612	0.612	NUM
fbem-27778	57	8	*	*	PUNCT
fbem-27778	57	9	*	*	PUNCT
fbem-27778	57	10	*	*	PUNCT
fbem-27778	57	11	(	(	PUNCT
fbem-27778	57	12	19.569	19.569	NUM
fbem-27778	57	13	)	)	PUNCT
fbem-27778	57	14	2.702	2.702	NUM
fbem-27778	57	15	*	*	PUNCT
fbem-27778	57	16	*	*	PUNCT
fbem-27778	57	17	*	*	PUNCT
fbem-27778	57	18	(	(	PUNCT
fbem-27778	57	19	95.237	95.237	NUM
fbem-27778	57	20	)	)	PUNCT
fbem-27778	57	21	0.139	0.139	NUM
fbem-27778	58	1	*	*	PUNCT
fbem-27778	58	2	*	*	PUNCT
fbem-27778	58	3	*	*	PUNCT
fbem-27778	58	4	(	(	PUNCT
fbem-27778	58	5	4.883	4.883	NUM
fbem-27778	58	6	)	)	PUNCT
fbem-27778	58	7	0.619	0.619	NUM
fbem-27778	58	8	*	*	PUNCT
fbem-27778	58	9	*	*	PUNCT
fbem-27778	58	10	*	*	PUNCT
fbem-27778	58	11	(	(	PUNCT
fbem-27778	58	12	19.836	19.836	NUM
fbem-27778	58	13	)	)	PUNCT
fbem-27778	58	14	2.702	2.702	NUM
fbem-27778	58	15	*	*	PUNCT
fbem-27778	58	16	*	*	PUNCT
fbem-27778	58	17	*	*	PUNCT
fbem-27778	58	18	(	(	PUNCT
fbem-27778	58	19	95.173	95.173	NUM
fbem-27778	58	20	)	)	PUNCT
fbem-27778	58	21	n	n	PRON
fbem-27778	58	22	r2	r2	NOUN
fbem-27778	58	23	f	f	PROPN
fbem-27778	58	24	204	204	NUM
fbem-27778	58	25	0.601	0.601	NUM
fbem-27778	58	26	163.793	163.793	NUM
fbem-27778	58	27	204	204	NUM
fbem-27778	58	28	0.578	0.578	NUM
fbem-27778	58	29	198.364	198.364	NUM
fbem-27778	58	30	204	204	NUM
fbem-27778	58	31	0.561	0.561	NUM
fbem-27778	58	32	228.702	228.702	NUM
fbem-27778	58	33	note	note	NOUN
fbem-27778	58	34	:	:	PUNCT
fbem-27778	58	35	(	(	PUNCT
fbem-27778	58	36	1	1	X
fbem-27778	58	37	)	)	PUNCT
fbem-27778	58	38	the	the	DET
fbem-27778	58	39	values	value	NOUN
fbem-27778	58	40	in	in	ADP
fbem-27778	58	41	brackets	bracket	NOUN
fbem-27778	58	42	are	be	AUX
fbem-27778	58	43	t	t	NOUN
fbem-27778	58	44	values	value	NOUN
fbem-27778	58	45	;	;	PUNCT
fbem-27778	58	46	(	(	PUNCT
fbem-27778	58	47	2	2	X
fbem-27778	58	48	)	)	PUNCT
fbem-27778	58	49	after	after	ADP
fbem-27778	58	50	the	the	DET
fbem-27778	58	51	data	datum	NOUN
fbem-27778	58	52	,	,	PUNCT
fbem-27778	58	53	"	"	PUNCT
fbem-27778	58	54	*	*	PUNCT
fbem-27778	58	55	"	"	PUNCT
fbem-27778	58	56	means	mean	VERB
fbem-27778	58	57	that	that	SCONJ
fbem-27778	58	58	the	the	DET
fbem-27778	58	59	coefficient	coefficient	NOUN
fbem-27778	58	60	is	be	AUX
fbem-27778	58	61	significant	significant	ADJ
fbem-27778	58	62	at	at	ADP
fbem-27778	58	63	the	the	DET
fbem-27778	58	64	10	10	NUM
fbem-27778	58	65	%	%	NOUN
fbem-27778	58	66	confidence	confidence	NOUN
fbem-27778	58	67	level	level	NOUN
fbem-27778	58	68	,	,	PUNCT
fbem-27778	58	69	"	"	PUNCT
fbem-27778	58	70	*	*	PUNCT
fbem-27778	58	71	*	*	PUNCT
fbem-27778	58	72	"	"	PUNCT
fbem-27778	58	73	means	mean	VERB
fbem-27778	58	74	that	that	SCONJ
fbem-27778	58	75	the	the	DET
fbem-27778	58	76	coefficient	coefficient	NOUN
fbem-27778	58	77	is	be	AUX
fbem-27778	58	78	significant	significant	ADJ
fbem-27778	58	79	at	at	ADP
fbem-27778	58	80	the	the	DET
fbem-27778	58	81	5	5	NUM
fbem-27778	58	82	%	%	NOUN
fbem-27778	58	83	confidence	confidence	NOUN
fbem-27778	58	84	level	level	NOUN
fbem-27778	58	85	,	,	PUNCT
fbem-27778	58	86	and	and	CCONJ
fbem-27778	58	87	"	"	PUNCT
fbem-27778	58	88	*	*	PUNCT
fbem-27778	58	89	*	*	PUNCT
fbem-27778	58	90	*	*	PUNCT
fbem-27778	58	91	"	"	PUNCT
fbem-27778	58	92	means	mean	VERB
fbem-27778	58	93	that	that	SCONJ
fbem-27778	58	94	the	the	DET
fbem-27778	58	95	coefficient	coefficient	NOUN
fbem-27778	58	96	is	be	AUX
fbem-27778	58	97	significant	significant	ADJ
fbem-27778	58	98	at	at	ADP
fbem-27778	58	99	the	the	DET
fbem-27778	58	100	1	1	NUM
fbem-27778	58	101	%	%	NOUN
fbem-27778	58	102	confidence	confidence	NOUN
fbem-27778	58	103	level	level	NOUN
fbem-27778	58	104	.	.	PUNCT
fbem-27778	59	1	3.5	3.5	NUM
fbem-27778	59	2	.	.	PUNCT
fbem-27778	60	1	robustness	robustness	NOUN
fbem-27778	60	2	test	test	NOUN
fbem-27778	60	3	the	the	DET
fbem-27778	60	4	explained	explain	VERB
fbem-27778	60	5	variable	variable	NOUN
fbem-27778	60	6	is	be	AUX
fbem-27778	60	7	changed	change	VERB
fbem-27778	60	8	from	from	ADP
fbem-27778	60	9	the	the	DET
fbem-27778	60	10	issuance	issuance	NOUN
fbem-27778	60	11	spread	spread	VERB
fbem-27778	60	12	to	to	ADP
fbem-27778	60	13	the	the	DET
fbem-27778	60	14	issuance	issuance	NOUN
fbem-27778	60	15	interest	interest	NOUN
fbem-27778	60	16	rate	rate	NOUN
fbem-27778	60	17	,	,	PUNCT
fbem-27778	60	18	and	and	CCONJ
fbem-27778	60	19	the	the	DET
fbem-27778	60	20	other	other	ADJ
fbem-27778	60	21	explanatory	explanatory	ADJ
fbem-27778	60	22	variables	variable	NOUN
fbem-27778	60	23	in	in	ADP
fbem-27778	60	24	the	the	DET
fbem-27778	60	25	model	model	NOUN
fbem-27778	60	26	are	be	AUX
fbem-27778	60	27	kept	keep	VERB
fbem-27778	60	28	unchanged	unchanged	ADJ
fbem-27778	60	29	for	for	ADP
fbem-27778	60	30	regression	regression	NOUN
fbem-27778	60	31	.	.	PUNCT
fbem-27778	61	1	the	the	DET
fbem-27778	61	2	results	result	NOUN
fbem-27778	61	3	are	be	AUX
fbem-27778	61	4	shown	show	VERB
fbem-27778	61	5	in	in	ADP
fbem-27778	61	6	table	table	NOUN
fbem-27778	61	7	5	5	NUM
fbem-27778	61	8	:	:	PUNCT
fbem-27778	61	9	table	table	NOUN
fbem-27778	61	10	5	5	NUM
fbem-27778	61	11	.	.	PUNCT
fbem-27778	61	12	robustness	robustness	NOUN
fbem-27778	61	13	test	test	NOUN
fbem-27778	61	14	results	result	NOUN
fbem-27778	61	15	(	(	PUNCT
fbem-27778	61	16	1	1	X
fbem-27778	61	17	)	)	PUNCT
fbem-27778	61	18	ctedit_spread	ctedit_spread	PROPN
fbem-27778	61	19	(	(	PUNCT
fbem-27778	61	20	2	2	X
fbem-27778	61	21	)	)	PUNCT
fbem-27778	61	22	ctedit_spread	ctedit_spread	PROPN
fbem-27778	61	23	(	(	PUNCT
fbem-27778	61	24	3	3	X
fbem-27778	61	25	)	)	PUNCT
fbem-27778	61	26	ctedit_spread	ctedit_spread	PROPN
fbem-27778	61	27	f1	f1	NOUN
fbem-27778	61	28	-0.576	-0.576	NOUN
fbem-27778	61	29	*	*	PUNCT
fbem-27778	61	30	*	*	PUNCT
fbem-27778	61	31	*	*	PUNCT
fbem-27778	61	32	(	(	PUNCT
fbem-27778	61	33	-19.013	-19.013	PROPN
fbem-27778	61	34	)	)	PUNCT
fbem-27778	61	35	-0.582	-0.582	NOUN
fbem-27778	62	1	*	*	PUNCT
fbem-27778	62	2	*	*	PUNCT
fbem-27778	62	3	*	*	PUNCT
fbem-27778	62	4	(	(	PUNCT
fbem-27778	62	5	-19.090	-19.090	PROPN
fbem-27778	62	6	)	)	PUNCT
fbem-27778	62	7	-0.580	-0.580	PROPN
fbem-27778	62	8	*	*	PUNCT
fbem-27778	62	9	*	*	PUNCT
fbem-27778	62	10	*	*	PUNCT
fbem-27778	62	11	(	(	PUNCT
fbem-27778	62	12	-19.018	-19.018	PROPN
fbem-27778	62	13	)	)	PUNCT
fbem-27778	62	14	f2	f2	PROPN
fbem-27778	62	15	-0.302	-0.302	NOUN
fbem-27778	62	16	*	*	PUNCT
fbem-27778	62	17	*	*	PUNCT
fbem-27778	62	18	*	*	PUNCT
fbem-27778	62	19	(	(	PUNCT
fbem-27778	62	20	-9.521	-9.521	NOUN
fbem-27778	62	21	)	)	PUNCT
fbem-27778	62	22	-0.294	-0.294	NOUN
fbem-27778	62	23	*	*	PUNCT
fbem-27778	62	24	*	*	PUNCT
fbem-27778	62	25	*	*	PUNCT
fbem-27778	62	26	(	(	PUNCT
fbem-27778	62	27	-9.486	-9.486	ADJ
fbem-27778	62	28	)	)	PUNCT
fbem-27778	62	29	-0.291	-0.291	PUNCT
fbem-27778	63	1	*	*	PUNCT
fbem-27778	63	2	*	*	PUNCT
fbem-27778	63	3	*	*	PUNCT
fbem-27778	63	4	(	(	PUNCT
fbem-27778	63	5	-9.413	-9.413	ADJ
fbem-27778	63	6	)	)	PUNCT
fbem-27778	63	7	f3	f3	NOUN
fbem-27778	63	8	-0.212	-0.212	PROPN
fbem-27778	63	9	*	*	PUNCT
fbem-27778	63	10	*	*	PUNCT
fbem-27778	63	11	*	*	PUNCT
fbem-27778	63	12	(	(	PUNCT
fbem-27778	63	13	-6.623	-6.623	NOUN
fbem-27778	63	14	)	)	PUNCT
fbem-27778	63	15	-0.213	-0.213	NOUN
fbem-27778	63	16	*	*	PUNCT
fbem-27778	63	17	*	*	PUNCT
fbem-27778	63	18	*	*	PUNCT
fbem-27778	63	19	(	(	PUNCT
fbem-27778	63	20	-6.613	-6.613	ADJ
fbem-27778	63	21	)	)	PUNCT
fbem-27778	63	22	-0.199	-0.199	NOUN
fbem-27778	63	23	*	*	PUNCT
fbem-27778	63	24	*	*	PUNCT
fbem-27778	63	25	*	*	PUNCT
fbem-27778	63	26	(	(	PUNCT
fbem-27778	63	27	-6.495	-6.495	SYM
fbem-27778	63	28	)	)	PUNCT
fbem-27778	63	29	f4	f4	ADJ
fbem-27778	63	30	-0.556	-0.556	NOUN
fbem-27778	63	31	*	*	PUNCT
fbem-27778	63	32	*	*	PUNCT
fbem-27778	63	33	*	*	PUNCT
fbem-27778	63	34	(	(	PUNCT
fbem-27778	63	35	-17.823	-17.823	ADJ
fbem-27778	63	36	)	)	PUNCT
fbem-27778	63	37	-0.557	-0.557	PUNCT
fbem-27778	64	1	*	*	PUNCT
fbem-27778	64	2	*	*	PUNCT
fbem-27778	64	3	*	*	PUNCT
fbem-27778	64	4	(	(	PUNCT
fbem-27778	64	5	-17.695	-17.695	NOUN
fbem-27778	64	6	)	)	PUNCT
fbem-27778	64	7	-0.552	-0.552	NOUN
fbem-27778	64	8	*	*	PUNCT
fbem-27778	64	9	*	*	PUNCT
fbem-27778	64	10	*	*	PUNCT
fbem-27778	64	11	(	(	PUNCT
fbem-27778	64	12	-17.831	-17.831	NOUN
fbem-27778	64	13	)	)	PUNCT
fbem-27778	64	14	f5	f5	PROPN
fbem-27778	64	15	-0.022	-0.022	NUM
fbem-27778	64	16	(	(	PUNCT
fbem-27778	64	17	-0.373	-0.373	PROPN
fbem-27778	64	18	)	)	PUNCT
fbem-27778	64	19	f6	f6	PROPN
fbem-27778	64	20	0.052	0.052	NUM
fbem-27778	64	21	(	(	PUNCT
fbem-27778	64	22	1.321	1.321	NUM
fbem-27778	64	23	)	)	PUNCT
fbem-27778	64	24	0.042	0.042	NUM
fbem-27778	64	25	(	(	PUNCT
fbem-27778	64	26	1.431	1.431	NUM
fbem-27778	64	27	)	)	PUNCT
fbem-27778	64	28	f7	f7	PROPN
fbem-27778	64	29	f8	f8	PROPN
fbem-27778	64	30	constant	constant	ADJ
fbem-27778	64	31	term	term	NOUN
fbem-27778	64	32	0.146	0.146	PRON
fbem-27778	64	33	*	*	PUNCT
fbem-27778	64	34	*	*	PUNCT
fbem-27778	64	35	*	*	PUNCT
fbem-27778	64	36	(	(	PUNCT
fbem-27778	64	37	4.993	4.993	NUM
fbem-27778	64	38	)	)	PUNCT
fbem-27778	64	39	0.621	0.621	NUM
fbem-27778	64	40	*	*	PUNCT
fbem-27778	64	41	*	*	PUNCT
fbem-27778	64	42	*	*	PUNCT
fbem-27778	64	43	(	(	PUNCT
fbem-27778	64	44	19.524	19.524	NUM
fbem-27778	64	45	)	)	PUNCT
fbem-27778	64	46	5.482	5.482	NUM
fbem-27778	64	47	*	*	PUNCT
fbem-27778	64	48	*	*	PUNCT
fbem-27778	64	49	*	*	PUNCT
fbem-27778	64	50	(	(	PUNCT
fbem-27778	64	51	193.532	193.532	NUM
fbem-27778	64	52	)	)	PUNCT
fbem-27778	64	53	0.143	0.143	NUM
fbem-27778	64	54	*	*	PUNCT
fbem-27778	64	55	*	*	PUNCT
fbem-27778	64	56	*	*	PUNCT
fbem-27778	64	57	(	(	PUNCT
fbem-27778	64	58	4.997	4.997	NUM
fbem-27778	64	59	)	)	PUNCT
fbem-27778	65	1	0.611	0.611	NUM
fbem-27778	65	2	*	*	PUNCT
fbem-27778	65	3	*	*	PUNCT
fbem-27778	65	4	*	*	PUNCT
fbem-27778	65	5	(	(	PUNCT
fbem-27778	65	6	19.561	19.561	NUM
fbem-27778	65	7	)	)	PUNCT
fbem-27778	65	8	5.472	5.472	NUM
fbem-27778	65	9	*	*	PUNCT
fbem-27778	65	10	*	*	PUNCT
fbem-27778	65	11	*	*	PUNCT
fbem-27778	65	12	(	(	PUNCT
fbem-27778	65	13	193.772	193.772	NUM
fbem-27778	65	14	)	)	PUNCT
fbem-27778	65	15	0.143	0.143	NUM
fbem-27778	65	16	*	*	PUNCT
fbem-27778	66	1	*	*	PUNCT
fbem-27778	66	2	*	*	PUNCT
fbem-27778	66	3	(	(	PUNCT
fbem-27778	66	4	5.131	5.131	NUM
fbem-27778	66	5	)	)	PUNCT
fbem-27778	66	6	0.602	0.602	NUM
fbem-27778	66	7	*	*	PUNCT
fbem-27778	66	8	*	*	PUNCT
fbem-27778	66	9	*	*	PUNCT
fbem-27778	66	10	(	(	PUNCT
fbem-27778	66	11	19.703	19.703	NUM
fbem-27778	66	12	)	)	PUNCT
fbem-27778	66	13	5.501	5.501	NUM
fbem-27778	66	14	*	*	PUNCT
fbem-27778	66	15	*	*	PUNCT
fbem-27778	66	16	*	*	PUNCT
fbem-27778	66	17	(	(	PUNCT
fbem-27778	66	18	193.571	193.571	NUM
fbem-27778	66	19	)	)	PUNCT
fbem-27778	66	20	n	n	CCONJ
fbem-27778	66	21	r2	r2	NOUN
fbem-27778	66	22	f	f	PROPN
fbem-27778	66	23	204	204	NUM
fbem-27778	66	24	0.606	0.606	NUM
fbem-27778	66	25	212.325	212.325	NUM
fbem-27778	66	26	204	204	NUM
fbem-27778	66	27	0.607	0.607	NUM
fbem-27778	66	28	242.964	242.964	NUM
fbem-27778	66	29	204	204	NUM
fbem-27778	66	30	0.601	0.601	NUM
fbem-27778	66	31	282.782	282.782	NUM
fbem-27778	66	32	the	the	DET
fbem-27778	66	33	original	original	ADJ
fbem-27778	66	34	model	model	NOUN
fbem-27778	66	35	successfully	successfully	ADV
fbem-27778	66	36	passed	pass	VERB
fbem-27778	66	37	the	the	DET
fbem-27778	66	38	robustness	robustness	NOUN
fbem-27778	66	39	test	test	NOUN
fbem-27778	66	40	,	,	PUNCT
fbem-27778	66	41	453	453	NUM
fbem-27778	66	42	showing	show	VERB
fbem-27778	66	43	high	high	ADJ
fbem-27778	66	44	stability	stability	NOUN
fbem-27778	66	45	and	and	CCONJ
fbem-27778	66	46	reliability	reliability	NOUN
fbem-27778	66	47	.	.	PUNCT
fbem-27778	67	1	4	4	X
fbem-27778	67	2	.	.	X
fbem-27778	67	3	analysis	analysis	NOUN
fbem-27778	67	4	of	of	ADP
fbem-27778	67	5	kmv	kmv	NOUN
fbem-27778	67	6	model	model	NOUN
fbem-27778	67	7	based	base	VERB
fbem-27778	67	8	on	on	ADP
fbem-27778	67	9	bond	bond	NOUN
fbem-27778	67	10	4.1	4.1	NUM
fbem-27778	67	11	.	.	PUNCT
fbem-27778	68	1	sample	sample	NOUN
fbem-27778	68	2	selection	selection	NOUN
fbem-27778	68	3	this	this	DET
fbem-27778	68	4	paper	paper	NOUN
fbem-27778	68	5	takes	take	VERB
fbem-27778	68	6	shanghai	shanghai	PROPN
fbem-27778	68	7	as	as	ADP
fbem-27778	68	8	the	the	DET
fbem-27778	68	9	research	research	NOUN
fbem-27778	68	10	object	object	NOUN
fbem-27778	68	11	of	of	ADP
fbem-27778	68	12	urban	urban	ADJ
fbem-27778	68	13	investment	investment	NOUN
fbem-27778	68	14	bonds	bond	NOUN
fbem-27778	68	15	,	,	PUNCT
fbem-27778	68	16	derives	derive	VERB
fbem-27778	68	17	the	the	DET
fbem-27778	68	18	financial	financial	ADJ
fbem-27778	68	19	data	datum	NOUN
fbem-27778	68	20	of	of	ADP
fbem-27778	68	21	shanghai	shanghai	PROPN
fbem-27778	68	22	from	from	ADP
fbem-27778	68	23	wind	wind	NOUN
fbem-27778	68	24	database	database	NOUN
fbem-27778	68	25	from	from	ADP
fbem-27778	68	26	2014	2014	NUM
fbem-27778	68	27	to	to	ADP
fbem-27778	68	28	2023	2023	NUM
fbem-27778	68	29	,	,	PUNCT
fbem-27778	68	30	calculates	calculate	VERB
fbem-27778	68	31	the	the	DET
fbem-27778	68	32	default	default	NOUN
fbem-27778	68	33	distance	distance	NOUN
fbem-27778	68	34	and	and	CCONJ
fbem-27778	68	35	default	default	NOUN
fbem-27778	68	36	probability	probability	NOUN
fbem-27778	68	37	of	of	ADP
fbem-27778	68	38	shanghai	shanghai	PROPN
fbem-27778	68	39	's	's	PART
fbem-27778	68	40	urban	urban	ADJ
fbem-27778	68	41	investment	investment	NOUN
fbem-27778	68	42	bonds	bond	NOUN
fbem-27778	68	43	as	as	ADP
fbem-27778	68	44	a	a	DET
fbem-27778	68	45	whole	whole	NOUN
fbem-27778	68	46	in	in	ADP
fbem-27778	68	47	2024	2024	NUM
fbem-27778	68	48	,	,	PUNCT
fbem-27778	68	49	and	and	CCONJ
fbem-27778	68	50	on	on	ADP
fbem-27778	68	51	this	this	DET
fbem-27778	68	52	basis	basis	NOUN
fbem-27778	68	53	,	,	PUNCT
fbem-27778	68	54	calculates	calculate	VERB
fbem-27778	68	55	the	the	DET
fbem-27778	68	56	maturity	maturity	NOUN
fbem-27778	68	57	repayment	repayment	NOUN
fbem-27778	68	58	scale	scale	NOUN
fbem-27778	68	59	of	of	ADP
fbem-27778	68	60	shanghai	shanghai	PROPN
fbem-27778	68	61	's	's	PART
fbem-27778	68	62	urban	urban	ADJ
fbem-27778	68	63	investment	investment	NOUN
fbem-27778	68	64	bonds	bond	NOUN
fbem-27778	68	65	when	when	SCONJ
fbem-27778	68	66	the	the	DET
fbem-27778	68	67	default	default	NOUN
fbem-27778	68	68	probability	probability	NOUN
fbem-27778	68	69	is	be	AUX
fbem-27778	68	70	0	0	NUM
fbem-27778	68	71	,	,	PUNCT
fbem-27778	68	72	and	and	CCONJ
fbem-27778	68	73	compares	compare	VERB
fbem-27778	68	74	it	it	PRON
fbem-27778	68	75	with	with	ADP
fbem-27778	68	76	the	the	DET
fbem-27778	68	77	actual	actual	ADJ
fbem-27778	68	78	maturity	maturity	NOUN
fbem-27778	68	79	repayment	repayment	NOUN
fbem-27778	68	80	scale	scale	NOUN
fbem-27778	68	81	of	of	ADP
fbem-27778	68	82	urban	urban	ADJ
fbem-27778	68	83	investment	investment	NOUN
fbem-27778	68	84	bonds	bond	NOUN
fbem-27778	68	85	.	.	PUNCT
fbem-27778	69	1	the	the	DET
fbem-27778	69	2	urban	urban	ADJ
fbem-27778	69	3	investment	investment	NOUN
fbem-27778	69	4	bonds	bond	NOUN
fbem-27778	69	5	with	with	ADP
fbem-27778	69	6	high	high	ADJ
fbem-27778	69	7	default	default	NOUN
fbem-27778	69	8	risk	risk	NOUN
fbem-27778	69	9	are	be	AUX
fbem-27778	69	10	obtained	obtain	VERB
fbem-27778	69	11	.	.	PUNCT
fbem-27778	70	1	4.2	4.2	NUM
fbem-27778	70	2	.	.	PUNCT
fbem-27778	70	3	calculation	calculation	NOUN
fbem-27778	70	4	method	method	NOUN
fbem-27778	70	5	of	of	ADP
fbem-27778	70	6	kmv	kmv	PROPN
fbem-27778	70	7	model	model	NOUN
fbem-27778	70	8	according	accord	VERB
fbem-27778	70	9	to	to	ADP
fbem-27778	70	10	the	the	DET
fbem-27778	70	11	bs	bs	ADJ
fbem-27778	70	12	formula	formula	NOUN
fbem-27778	70	13	:	:	PUNCT
fbem-27778	70	14	st	st	PROPN
fbem-27778	70	15	=	=	SYM
fbem-27778	70	16	von(d1	von(d1	NOUN
fbem-27778	70	17	)	)	PUNCT
fbem-27778	70	18	−	−	PROPN
fbem-27778	70	19	de	de	X
fbem-27778	70	20	−rtn(d2	−rtn(d2	PROPN
fbem-27778	70	21	)	)	PUNCT
fbem-27778	70	22	(	(	PUNCT
fbem-27778	70	23	3	3	X
fbem-27778	70	24	)	)	PUNCT
fbem-27778	70	25	d1	d1	NOUN
fbem-27778	70	26	=	=	SYM
fbem-27778	70	27	in	in	ADP
fbem-27778	70	28	(	(	PUNCT
fbem-27778	70	29	v0	v0	NOUN
fbem-27778	70	30	d	d	NOUN
fbem-27778	70	31	)	)	PUNCT
fbem-27778	71	1	+	+	ADJ
fbem-27778	71	2	(	(	PUNCT
fbem-27778	71	3	r+1/2σ	r+1/2σ	NOUN
fbem-27778	71	4	⋀	⋀	PROPN
fbem-27778	71	5	2)t	2)t	ADJ
fbem-27778	71	6	σ√t	σ√t	NOUN
fbem-27778	71	7	(	(	PUNCT
fbem-27778	71	8	4	4	NUM
fbem-27778	71	9	)	)	PUNCT
fbem-27778	71	10	according	accord	VERB
fbem-27778	71	11	to	to	ADP
fbem-27778	71	12	the	the	DET
fbem-27778	71	13	kmv	kmv	PROPN
fbem-27778	71	14	model	model	NOUN
fbem-27778	71	15	,	,	PUNCT
fbem-27778	71	16	the	the	DET
fbem-27778	71	17	financial	financial	ADJ
fbem-27778	71	18	guarantee	guarantee	NOUN
fbem-27778	71	19	income	income	NOUN
fbem-27778	71	20	obeys	obey	VERB
fbem-27778	71	21	the	the	DET
fbem-27778	71	22	lognormal	lognormal	ADJ
fbem-27778	71	23	distribution	distribution	NOUN
fbem-27778	71	24	and	and	CCONJ
fbem-27778	71	25	meets	meet	VERB
fbem-27778	71	26	the	the	DET
fbem-27778	71	27	following	following	ADJ
fbem-27778	71	28	conditions	condition	NOUN
fbem-27778	71	29	:	:	PUNCT
fbem-27778	71	30	inrt	inrt	PROPN
fbem-27778	71	31	=	=	PUNCT
fbem-27778	71	32	ina	ina	PROPN
fbem-27778	71	33	+	+	X
fbem-27778	72	1	(	(	PUNCT
fbem-27778	72	2	μ	μ	NOUN
fbem-27778	72	3	−	−	PROPN
fbem-27778	72	4	1	1	NUM
fbem-27778	72	5	2σ2	2σ2	NUM
fbem-27778	72	6	)	)	PUNCT
fbem-27778	73	1	t	t	PROPN
fbem-27778	73	2	+	+	X
fbem-27778	73	3	σ√tzt	σ√tzt	PROPN
fbem-27778	73	4	(	(	PUNCT
fbem-27778	73	5	5	5	NUM
fbem-27778	73	6	)	)	PUNCT
fbem-27778	73	7	rt	rt	NOUN
fbem-27778	73	8	=	=	PUNCT
fbem-27778	73	9	rexp	rexp	NOUN
fbem-27778	73	10	{	{	PUNCT
fbem-27778	73	11	(	(	PUNCT
fbem-27778	73	12	μ	μ	NOUN
fbem-27778	73	13	−	−	PROPN
fbem-27778	73	14	1	1	NUM
fbem-27778	73	15	2σ2	2σ2	NUM
fbem-27778	73	16	)	)	PUNCT
fbem-27778	74	1	t	t	NOUN
fbem-27778	74	2	+	+	CCONJ
fbem-27778	74	3	σ√tzt	σ√tzt	PROPN
fbem-27778	74	4	}	}	PUNCT
fbem-27778	74	5	(	(	PUNCT
fbem-27778	74	6	6	6	NUM
fbem-27778	74	7	)	)	PUNCT
fbem-27778	74	8	where	where	SCONJ
fbem-27778	74	9	zt	zt	PROPN
fbem-27778	74	10	is	be	AUX
fbem-27778	74	11	the	the	DET
fbem-27778	74	12	standard	standard	ADJ
fbem-27778	74	13	normal	normal	ADJ
fbem-27778	74	14	distribution	distribution	NOUN
fbem-27778	74	15	;	;	PUNCT
fbem-27778	74	16	rt	rt	PROPN
fbem-27778	74	17	represents	represent	VERB
fbem-27778	74	18	the	the	DET
fbem-27778	74	19	local	local	ADJ
fbem-27778	74	20	government	government	NOUN
fbem-27778	74	21	financial	financial	ADJ
fbem-27778	74	22	guarantee	guarantee	NOUN
fbem-27778	74	23	revenue	revenue	NOUN
fbem-27778	74	24	at	at	ADP
fbem-27778	74	25	time	time	NOUN
fbem-27778	74	26	t	t	PROPN
fbem-27778	74	27	;	;	PUNCT
fbem-27778	74	28	μ	μ	PROPN
fbem-27778	74	29	represents	represent	VERB
fbem-27778	74	30	the	the	DET
fbem-27778	74	31	growth	growth	NOUN
fbem-27778	74	32	rate	rate	NOUN
fbem-27778	74	33	of	of	ADP
fbem-27778	74	34	local	local	ADJ
fbem-27778	74	35	government	government	NOUN
fbem-27778	74	36	financial	financial	ADJ
fbem-27778	74	37	guarantee	guarantee	NOUN
fbem-27778	74	38	revenue	revenue	NOUN
fbem-27778	74	39	;	;	PUNCT
fbem-27778	74	40	σ	σ	NOUN
fbem-27778	74	41	represents	represent	VERB
fbem-27778	74	42	the	the	DET
fbem-27778	74	43	fluctuation	fluctuation	NOUN
fbem-27778	74	44	rate	rate	NOUN
fbem-27778	74	45	of	of	ADP
fbem-27778	74	46	local	local	ADJ
fbem-27778	74	47	government	government	NOUN
fbem-27778	74	48	financial	financial	ADJ
fbem-27778	74	49	guarantee	guarantee	NOUN
fbem-27778	74	50	income	income	NOUN
fbem-27778	74	51	;	;	PUNCT
fbem-27778	74	52	bt	bt	PROPN
fbem-27778	74	53	represents	represent	VERB
fbem-27778	74	54	the	the	DET
fbem-27778	74	55	debt	debt	NOUN
fbem-27778	74	56	repayment	repayment	NOUN
fbem-27778	74	57	scale	scale	NOUN
fbem-27778	74	58	of	of	ADP
fbem-27778	74	59	the	the	DET
fbem-27778	74	60	urban	urban	ADJ
fbem-27778	74	61	investment	investment	NOUN
fbem-27778	74	62	enterprise	enterprise	NOUN
fbem-27778	74	63	at	at	ADP
fbem-27778	74	64	time	time	NOUN
fbem-27778	74	65	t.	t.	PROPN
fbem-27778	74	66	according	accord	VERB
fbem-27778	74	67	to	to	ADP
fbem-27778	74	68	the	the	DET
fbem-27778	74	69	definition	definition	NOUN
fbem-27778	74	70	of	of	ADP
fbem-27778	74	71	mean	mean	ADJ
fbem-27778	74	72	and	and	CCONJ
fbem-27778	74	73	standard	standard	ADJ
fbem-27778	74	74	deviation	deviation	NOUN
fbem-27778	74	75	,	,	PUNCT
fbem-27778	74	76	we	we	PRON
fbem-27778	74	77	can	can	AUX
fbem-27778	74	78	get	get	VERB
fbem-27778	74	79	:	:	PUNCT
fbem-27778	75	1	μ	μ	NOUN
fbem-27778	75	2	=	=	SYM
fbem-27778	75	3	1	1	NUM
fbem-27778	75	4	n−1	n−1	PROPN
fbem-27778	75	5	∑	∑	PUNCT
fbem-27778	75	6	in	in	ADP
fbem-27778	75	7	ri+1	ri+1	PROPN
fbem-27778	75	8	ri	ri	PROPN
fbem-27778	75	9	+	+	CCONJ
fbem-27778	75	10	inrni=1	inrni=1	PROPN
fbem-27778	75	11	(	(	PUNCT
fbem-27778	75	12	7	7	X
fbem-27778	75	13	)	)	PUNCT
fbem-27778	75	14	σ	σ	NOUN
fbem-27778	75	15	=	=	SYM
fbem-27778	75	16	1	1	NUM
fbem-27778	75	17	n−2	n−2	PROPN
fbem-27778	75	18	∑	∑	PUNCT
fbem-27778	75	19	(	(	PUNCT
fbem-27778	75	20	inr	inr	PROPN
fbem-27778	75	21	∗	∗	X
fbem-27778	75	22	ri+1	ri+1	PROPN
fbem-27778	75	23	ri	ri	PROPN
fbem-27778	75	24	−	−	PROPN
fbem-27778	75	25	1	1	NUM
fbem-27778	75	26	n−1	n−1	PROPN
fbem-27778	75	27	∑	∑	PUNCT
fbem-27778	75	28	inrn−1i=1	inrn−1i=1	PROPN
fbem-27778	75	29	∗	∗	PROPN
fbem-27778	75	30	ri+1	ri+1	PROPN
fbem-27778	75	31	ri	ri	PROPN
fbem-27778	75	32	n−1	n−1	PROPN
fbem-27778	75	33	i=1	i=1	PROPN
fbem-27778	75	34	(	(	PUNCT
fbem-27778	75	35	8)	8)	NUM
fbem-27778	75	36	therefore	therefore	ADV
fbem-27778	75	37	,	,	PUNCT
fbem-27778	75	38	the	the	DET
fbem-27778	75	39	default	default	NOUN
fbem-27778	75	40	distance	distance	NOUN
fbem-27778	75	41	dd	dd	NOUN
fbem-27778	75	42	and	and	CCONJ
fbem-27778	75	43	the	the	DET
fbem-27778	75	44	default	default	NOUN
fbem-27778	75	45	probability	probability	NOUN
fbem-27778	75	46	p	p	NOUN
fbem-27778	75	47	are	be	AUX
fbem-27778	75	48	:	:	PUNCT
fbem-27778	75	49	dd	dd	ADJ
fbem-27778	75	50	=	=	NOUN
fbem-27778	75	51	in	in	ADP
fbem-27778	75	52	(	(	PUNCT
fbem-27778	75	53	r	r	NOUN
fbem-27778	75	54	b	b	PROPN
fbem-27778	75	55	)	)	PUNCT
fbem-27778	75	56	+	+	PROPN
fbem-27778	75	57	(	(	PUNCT
fbem-27778	75	58	μ−1/2σ	μ−1/2σ	ADJ
fbem-27778	75	59	⋀	⋀	PROPN
fbem-27778	75	60	2)t	2)t	ADJ
fbem-27778	75	61	σ√t	σ√t	NOUN
fbem-27778	75	62	(	(	PUNCT
fbem-27778	75	63	9	9	NUM
fbem-27778	75	64	)	)	PUNCT
fbem-27778	75	65	p	p	NOUN
fbem-27778	75	66	=	=	PUNCT
fbem-27778	75	67	n{−	n{−	NOUN
fbem-27778	75	68	in	in	ADP
fbem-27778	75	69	(	(	PUNCT
fbem-27778	75	70	r	r	NOUN
fbem-27778	75	71	b	b	PROPN
fbem-27778	75	72	)	)	PUNCT
fbem-27778	75	73	+	+	PROPN
fbem-27778	75	74	(	(	PUNCT
fbem-27778	75	75	μ−1/2σ	μ−1/2σ	ADJ
fbem-27778	75	76	⋀	⋀	PROPN
fbem-27778	75	77	2	2	NUM
fbem-27778	75	78	)	)	PUNCT
fbem-27778	75	79	σ√t	σ√t	NOUN
fbem-27778	75	80	t	t	PROPN
fbem-27778	75	81	}	}	PUNCT
fbem-27778	75	82	(	(	PUNCT
fbem-27778	75	83	10	10	NUM
fbem-27778	75	84	)	)	PUNCT
fbem-27778	75	85	4.3	4.3	NUM
fbem-27778	75	86	.	.	PUNCT
fbem-27778	76	1	financial	financial	ADJ
fbem-27778	76	2	guarantee	guarantee	NOUN
fbem-27778	76	3	revenue	revenue	NOUN
fbem-27778	76	4	forecast	forecast	NOUN
fbem-27778	76	5	in	in	ADP
fbem-27778	76	6	eviews	eview	NOUN
fbem-27778	76	7	,	,	PUNCT
fbem-27778	76	8	adf	adf	PROPN
fbem-27778	76	9	is	be	AUX
fbem-27778	76	10	used	use	VERB
fbem-27778	76	11	to	to	PART
fbem-27778	76	12	test	test	VERB
fbem-27778	76	13	whether	whether	SCONJ
fbem-27778	76	14	the	the	DET
fbem-27778	76	15	time	time	NOUN
fbem-27778	76	16	series	series	PROPN
fbem-27778	76	17	is	be	AUX
fbem-27778	76	18	stable	stable	ADJ
fbem-27778	76	19	or	or	CCONJ
fbem-27778	76	20	not	not	PART
fbem-27778	76	21	,	,	PUNCT
fbem-27778	76	22	and	and	CCONJ
fbem-27778	76	23	the	the	DET
fbem-27778	76	24	time	time	NOUN
fbem-27778	76	25	series	series	PROPN
fbem-27778	76	26	y	y	PROPN
fbem-27778	76	27	is	be	AUX
fbem-27778	76	28	the	the	DET
fbem-27778	76	29	financial	financial	ADJ
fbem-27778	76	30	data	datum	NOUN
fbem-27778	76	31	of	of	ADP
fbem-27778	76	32	shanghai	shanghai	PROPN
fbem-27778	76	33	from	from	ADP
fbem-27778	76	34	2014	2014	NUM
fbem-27778	76	35	to	to	ADP
fbem-27778	76	36	2023	2023	NUM
fbem-27778	76	37	.	.	PUNCT
fbem-27778	77	1	taking	take	VERB
fbem-27778	77	2	the	the	DET
fbem-27778	77	3	logarithm	logarithm	NOUN
fbem-27778	77	4	of	of	ADP
fbem-27778	77	5	the	the	DET
fbem-27778	77	6	original	original	ADJ
fbem-27778	77	7	data	datum	NOUN
fbem-27778	77	8	,	,	PUNCT
fbem-27778	77	9	the	the	DET
fbem-27778	77	10	series	series	NOUN
fbem-27778	77	11	y	y	PROPN
fbem-27778	77	12	is	be	AUX
fbem-27778	77	13	obtained	obtain	VERB
fbem-27778	77	14	,	,	PUNCT
fbem-27778	77	15	and	and	CCONJ
fbem-27778	77	16	the	the	DET
fbem-27778	77	17	result	result	NOUN
fbem-27778	77	18	of	of	ADP
fbem-27778	77	19	adf	adf	PROPN
fbem-27778	77	20	test	test	NOUN
fbem-27778	77	21	shows	show	VERB
fbem-27778	77	22	that	that	SCONJ
fbem-27778	77	23	the	the	DET
fbem-27778	77	24	time	time	NOUN
fbem-27778	77	25	series	series	NOUN
fbem-27778	77	26	is	be	AUX
fbem-27778	77	27	not	not	PART
fbem-27778	77	28	stable	stable	ADJ
fbem-27778	77	29	.	.	PUNCT
fbem-27778	78	1	table	table	NOUN
fbem-27778	78	2	6	6	NUM
fbem-27778	78	3	.	.	PUNCT
fbem-27778	79	1	statistical	statistical	ADJ
fbem-27778	79	2	table	table	NOUN
fbem-27778	79	3	of	of	ADP
fbem-27778	79	4	test	test	NOUN
fbem-27778	79	5	results	result	NOUN
fbem-27778	79	6	test	test	NOUN
fbem-27778	79	7	statistic	statistic	NOUN
fbem-27778	79	8	1	1	NUM
fbem-27778	79	9	%	%	NOUN
fbem-27778	79	10	critical	critical	ADJ
fbem-27778	79	11	value	value	NOUN
fbem-27778	79	12	5	5	NUM
fbem-27778	79	13	%	%	NOUN
fbem-27778	79	14	critical	critical	ADJ
fbem-27778	79	15	value	value	NOUN
fbem-27778	79	16	10	10	NUM
fbem-27778	79	17	%	%	NOUN
fbem-27778	79	18	critical	critical	ADJ
fbem-27778	79	19	value	value	NOUN
fbem-27778	79	20	z(t	z(t	NOUN
fbem-27778	79	21	)	)	PUNCT
fbem-27778	79	22	-0.583	-0.583	NOUN
fbem-27778	79	23	-3.823	-3.823	PUNCT
fbem-27778	79	24	-3.185	-3.185	X
fbem-27778	79	25	-2.931	-2.931	X
fbem-27778	79	26	take	take	VERB
fbem-27778	79	27	the	the	DET
fbem-27778	79	28	first	first	ADJ
fbem-27778	79	29	order	order	NOUN
fbem-27778	79	30	difference	difference	NOUN
fbem-27778	79	31	of	of	ADP
fbem-27778	79	32	the	the	DET
fbem-27778	79	33	time	time	NOUN
fbem-27778	79	34	series	series	NOUN
fbem-27778	79	35	to	to	PART
fbem-27778	79	36	get	get	VERB
fbem-27778	79	37	a	a	DET
fbem-27778	79	38	new	new	ADJ
fbem-27778	79	39	sequence	sequence	NOUN
fbem-27778	79	40	d	d	NOUN
fbem-27778	79	41	dy	dy	NOUN
fbem-27778	79	42	,	,	PUNCT
fbem-27778	79	43	and	and	CCONJ
fbem-27778	79	44	then	then	ADV
fbem-27778	79	45	carry	carry	VERB
fbem-27778	79	46	out	out	ADP
fbem-27778	79	47	the	the	DET
fbem-27778	79	48	adf	adf	NOUN
fbem-27778	79	49	test	test	NOUN
fbem-27778	79	50	again	again	ADV
fbem-27778	79	51	,	,	PUNCT
fbem-27778	79	52	the	the	DET
fbem-27778	79	53	test	test	NOUN
fbem-27778	79	54	results	result	NOUN
fbem-27778	79	55	show	show	VERB
fbem-27778	79	56	that	that	SCONJ
fbem-27778	79	57	the	the	DET
fbem-27778	79	58	time	time	NOUN
fbem-27778	79	59	series	series	NOUN
fbem-27778	79	60	is	be	AUX
fbem-27778	79	61	stable	stable	ADJ
fbem-27778	79	62	.	.	PUNCT
fbem-27778	80	1	table	table	NOUN
fbem-27778	80	2	7	7	NUM
fbem-27778	80	3	.	.	PUNCT
fbem-27778	80	4	statistical	statistical	ADJ
fbem-27778	80	5	table	table	NOUN
fbem-27778	80	6	of	of	ADP
fbem-27778	80	7	test	test	NOUN
fbem-27778	80	8	results	result	NOUN
fbem-27778	80	9	test	test	NOUN
fbem-27778	80	10	statistic	statistic	NOUN
fbem-27778	80	11	1	1	NUM
fbem-27778	80	12	%	%	NOUN
fbem-27778	80	13	critical	critical	ADJ
fbem-27778	80	14	value	value	NOUN
fbem-27778	80	15	5	5	NUM
fbem-27778	80	16	%	%	NOUN
fbem-27778	80	17	critical	critical	ADJ
fbem-27778	80	18	value	value	NOUN
fbem-27778	80	19	10	10	NUM
fbem-27778	80	20	%	%	NOUN
fbem-27778	80	21	critical	critical	ADJ
fbem-27778	80	22	value	value	NOUN
fbem-27778	80	23	z(t	z(t	NOUN
fbem-27778	80	24	)	)	PUNCT
fbem-27778	81	1	-6.101	-6.101	NOUN
fbem-27778	81	2	-3.823	-3.823	PUNCT
fbem-27778	81	3	-3.185	-3.185	NOUN
fbem-27778	81	4	-2.931	-2.931	VERB
fbem-27778	81	5	the	the	DET
fbem-27778	81	6	values	value	NOUN
fbem-27778	81	7	of	of	ADP
fbem-27778	81	8	p	p	NOUN
fbem-27778	81	9	and	and	CCONJ
fbem-27778	81	10	q	q	NOUN
fbem-27778	81	11	in	in	ADP
fbem-27778	81	12	different	different	ADJ
fbem-27778	81	13	arima	arima	NOUN
fbem-27778	81	14	models	model	NOUN
fbem-27778	81	15	are	be	AUX
fbem-27778	81	16	substituted	substitute	VERB
fbem-27778	81	17	and	and	CCONJ
fbem-27778	81	18	the	the	DET
fbem-27778	81	19	values	value	NOUN
fbem-27778	81	20	of	of	ADP
fbem-27778	81	21	aic	aic	PROPN
fbem-27778	81	22	are	be	AUX
fbem-27778	81	23	observed	observe	VERB
fbem-27778	81	24	.	.	PUNCT
fbem-27778	82	1	after	after	ADP
fbem-27778	82	2	testing	testing	NOUN
fbem-27778	82	3	,	,	PUNCT
fbem-27778	82	4	the	the	DET
fbem-27778	82	5	fitting	fitting	ADJ
fbem-27778	82	6	effect	effect	NOUN
fbem-27778	82	7	of	of	ADP
fbem-27778	82	8	arima	arima	PROPN
fbem-27778	82	9	(	(	PUNCT
fbem-27778	82	10	0,2,0	0,2,0	PROPN
fbem-27778	82	11	)	)	PUNCT
fbem-27778	82	12	is	be	AUX
fbem-27778	82	13	the	the	DET
fbem-27778	82	14	best	good	ADJ
fbem-27778	82	15	,	,	PUNCT
fbem-27778	82	16	the	the	DET
fbem-27778	82	17	value	value	NOUN
fbem-27778	82	18	of	of	ADP
fbem-27778	82	19	aic	aic	PROPN
fbem-27778	82	20	is	be	AUX
fbem-27778	82	21	483.731	483.731	NUM
fbem-27778	82	22	,	,	PUNCT
fbem-27778	82	23	and	and	CCONJ
fbem-27778	82	24	the	the	DET
fbem-27778	82	25	predicted	predict	VERB
fbem-27778	82	26	value	value	NOUN
fbem-27778	82	27	of	of	ADP
fbem-27778	82	28	shanghai	shanghai	PROPN
fbem-27778	82	29	's	's	PART
fbem-27778	82	30	fiscal	fiscal	ADJ
fbem-27778	82	31	revenue	revenue	NOUN
fbem-27778	82	32	in	in	ADP
fbem-27778	82	33	2024	2024	NUM
fbem-27778	82	34	is	be	AUX
fbem-27778	82	35	897.456	897.456	NUM
fbem-27778	82	36	billion	billion	NUM
fbem-27778	82	37	yuan	yuan	NOUN
fbem-27778	82	38	.	.	PUNCT
fbem-27778	83	1	after	after	ADP
fbem-27778	83	2	multiplying	multiply	VERB
fbem-27778	83	3	by	by	ADP
fbem-27778	83	4	the	the	DET
fbem-27778	83	5	guarantee	guarantee	NOUN
fbem-27778	83	6	coefficient	coefficient	NOUN
fbem-27778	83	7	of	of	ADP
fbem-27778	83	8	0.5	0.5	NUM
fbem-27778	83	9	,	,	PUNCT
fbem-27778	83	10	the	the	DET
fbem-27778	83	11	financial	financial	ADJ
fbem-27778	83	12	guarantee	guarantee	NOUN
fbem-27778	83	13	income	income	NOUN
fbem-27778	83	14	of	of	ADP
fbem-27778	83	15	shanghai	shanghai	PROPN
fbem-27778	83	16	is	be	AUX
fbem-27778	83	17	calculated	calculate	VERB
fbem-27778	83	18	.	.	PUNCT
fbem-27778	84	1	according	accord	VERB
fbem-27778	84	2	to	to	ADP
fbem-27778	84	3	the	the	DET
fbem-27778	84	4	model	model	NOUN
fbem-27778	84	5	,	,	PUNCT
fbem-27778	84	6	shanghai	shanghai	PROPN
fbem-27778	84	7	's	's	PART
fbem-27778	84	8	fiscal	fiscal	ADJ
fbem-27778	84	9	revenue	revenue	NOUN
fbem-27778	84	10	in	in	ADP
fbem-27778	84	11	2023	2023	NUM
fbem-27778	84	12	is	be	AUX
fbem-27778	84	13	897.the	897.the	DET
fbem-27778	84	14	financial	financial	ADJ
fbem-27778	84	15	guarantee	guarantee	NOUN
fbem-27778	84	16	revenue	revenue	NOUN
fbem-27778	84	17	was	be	AUX
fbem-27778	84	18	448.728	448.728	NUM
fbem-27778	84	19	billion	billion	NUM
fbem-27778	84	20	yuan	yuan	NOUN
fbem-27778	84	21	.	.	PUNCT
fbem-27778	85	1	according	accord	VERB
fbem-27778	85	2	to	to	ADP
fbem-27778	85	3	the	the	DET
fbem-27778	85	4	budget	budget	NOUN
fbem-27778	85	5	implementation	implementation	NOUN
fbem-27778	85	6	report	report	NOUN
fbem-27778	85	7	or	or	CCONJ
fbem-27778	85	8	report	report	NOUN
fbem-27778	85	9	on	on	ADP
fbem-27778	85	10	the	the	DET
fbem-27778	85	11	work	work	NOUN
fbem-27778	85	12	of	of	ADP
fbem-27778	85	13	the	the	DET
fbem-27778	85	14	government	government	NOUN
fbem-27778	85	15	published	publish	VERB
fbem-27778	85	16	by	by	ADP
fbem-27778	85	17	the	the	DET
fbem-27778	85	18	shanghai	shanghai	PROPN
fbem-27778	85	19	municipal	municipal	ADJ
fbem-27778	85	20	government	government	NOUN
fbem-27778	85	21	,	,	PUNCT
fbem-27778	85	22	the	the	DET
fbem-27778	85	23	actual	actual	ADJ
fbem-27778	85	24	fiscal	fiscal	ADJ
fbem-27778	85	25	revenue	revenue	NOUN
fbem-27778	85	26	is	be	AUX
fbem-27778	85	27	872.8	872.8	NUM
fbem-27778	85	28	billion	billion	NUM
fbem-27778	85	29	yuan	yuan	NOUN
fbem-27778	85	30	,	,	PUNCT
fbem-27778	85	31	and	and	CCONJ
fbem-27778	85	32	the	the	DET
fbem-27778	85	33	deviation	deviation	NOUN
fbem-27778	85	34	between	between	ADP
fbem-27778	85	35	the	the	DET
fbem-27778	85	36	predicted	predict	VERB
fbem-27778	85	37	fiscal	fiscal	ADJ
fbem-27778	85	38	revenue	revenue	NOUN
fbem-27778	85	39	and	and	CCONJ
fbem-27778	85	40	the	the	DET
fbem-27778	85	41	actual	actual	ADJ
fbem-27778	85	42	fiscal	fiscal	ADJ
fbem-27778	85	43	revenue	revenue	NOUN
fbem-27778	85	44	is	be	AUX
fbem-27778	85	45	24.656	24.656	NUM
fbem-27778	85	46	billion	billion	NUM
fbem-27778	85	47	yuan	yuan	NOUN
fbem-27778	85	48	and	and	CCONJ
fbem-27778	85	49	the	the	DET
fbem-27778	85	50	deviation	deviation	NOUN
fbem-27778	85	51	is	be	AUX
fbem-27778	85	52	-2.75	-2.75	NUM
fbem-27778	85	53	%	%	NOUN
fbem-27778	85	54	.	.	PUNCT
fbem-27778	86	1	it	it	PRON
fbem-27778	86	2	shows	show	VERB
fbem-27778	86	3	that	that	SCONJ
fbem-27778	86	4	the	the	DET
fbem-27778	86	5	prediction	prediction	NOUN
fbem-27778	86	6	results	result	NOUN
fbem-27778	86	7	of	of	ADP
fbem-27778	86	8	the	the	DET
fbem-27778	86	9	model	model	NOUN
fbem-27778	86	10	are	be	AUX
fbem-27778	86	11	effective	effective	ADJ
fbem-27778	86	12	and	and	CCONJ
fbem-27778	86	13	the	the	DET
fbem-27778	86	14	analysis	analysis	NOUN
fbem-27778	86	15	results	result	NOUN
fbem-27778	86	16	are	be	AUX
fbem-27778	86	17	accurate	accurate	ADJ
fbem-27778	86	18	.	.	PUNCT
fbem-27778	87	1	4.4	4.4	NUM
fbem-27778	87	2	.	.	PUNCT
fbem-27778	87	3	growth	growth	NOUN
fbem-27778	87	4	rate	rate	NOUN
fbem-27778	87	5	and	and	CCONJ
fbem-27778	87	6	volatility	volatility	NOUN
fbem-27778	87	7	substituting	substitute	VERB
fbem-27778	87	8	shanghai	shanghai	PROPN
fbem-27778	87	9	's	's	PART
fbem-27778	87	10	fiscal	fiscal	ADJ
fbem-27778	87	11	guarantee	guarantee	NOUN
fbem-27778	87	12	income	income	NOUN
fbem-27778	87	13	into	into	ADP
fbem-27778	87	14	formulas	formula	NOUN
fbem-27778	87	15	6	6	NUM
fbem-27778	87	16	and	and	CCONJ
fbem-27778	87	17	7	7	NUM
fbem-27778	87	18	,	,	PUNCT
fbem-27778	87	19	μ	μ	NOUN
fbem-27778	87	20	=	=	SYM
fbem-27778	87	21	0	0	NUM
fbem-27778	87	22	.	.	NOUN
fbem-27778	87	23	143565	143565	NUM
fbem-27778	87	24	,	,	PUNCT
fbem-27778	87	25	σ	σ	PROPN
fbem-27778	87	26	=	=	SYM
fbem-27778	87	27	0	0	NUM
fbem-27778	87	28	.	.	NOUN
fbem-27778	87	29	156867	156867	NUM
fbem-27778	87	30	,	,	PUNCT
fbem-27778	87	31	σ2	σ2	NOUN
fbem-27778	87	32	=	=	SYM
fbem-27778	87	33	0	0	NUM
fbem-27778	87	34	.	.	NOUN
fbem-27778	87	35	024601	024601	NUM
fbem-27778	87	36	,	,	PUNCT
fbem-27778	87	37	we	we	PRON
fbem-27778	87	38	can	can	AUX
fbem-27778	87	39	see	see	VERB
fbem-27778	87	40	that	that	SCONJ
fbem-27778	87	41	shanghai	shanghai	PROPN
fbem-27778	87	42	's	's	PART
fbem-27778	87	43	fiscal	fiscal	ADJ
fbem-27778	87	44	revenue	revenue	NOUN
fbem-27778	87	45	is	be	AUX
fbem-27778	87	46	growing	grow	VERB
fbem-27778	87	47	and	and	CCONJ
fbem-27778	87	48	the	the	DET
fbem-27778	87	49	volatility	volatility	NOUN
fbem-27778	87	50	is	be	AUX
fbem-27778	87	51	low	low	ADJ
fbem-27778	87	52	,	,	PUNCT
fbem-27778	87	53	indicating	indicate	VERB
fbem-27778	87	54	that	that	SCONJ
fbem-27778	87	55	the	the	DET
fbem-27778	87	56	economic	economic	ADJ
fbem-27778	87	57	level	level	NOUN
fbem-27778	87	58	of	of	ADP
fbem-27778	87	59	shanghai	shanghai	PROPN
fbem-27778	87	60	has	have	AUX
fbem-27778	87	61	improved	improve	VERB
fbem-27778	87	62	significantly	significantly	ADV
fbem-27778	87	63	in	in	ADP
fbem-27778	87	64	the	the	DET
fbem-27778	87	65	past	past	ADJ
fbem-27778	87	66	ten	ten	NUM
fbem-27778	87	67	years	year	NOUN
fbem-27778	87	68	.	.	PUNCT
fbem-27778	88	1	it	it	PRON
fbem-27778	88	2	is	be	AUX
fbem-27778	88	3	closely	closely	ADV
fbem-27778	88	4	related	relate	VERB
fbem-27778	88	5	to	to	ADP
fbem-27778	88	6	attracting	attract	VERB
fbem-27778	88	7	investment	investment	NOUN
fbem-27778	88	8	,	,	PUNCT
fbem-27778	88	9	technological	technological	ADJ
fbem-27778	88	10	research	research	NOUN
fbem-27778	88	11	and	and	CCONJ
fbem-27778	88	12	development	development	NOUN
fbem-27778	88	13	and	and	CCONJ
fbem-27778	88	14	innovation	innovation	NOUN
fbem-27778	88	15	,	,	PUNCT
fbem-27778	88	16	as	as	ADV
fbem-27778	88	17	well	well	ADV
fbem-27778	88	18	as	as	ADP
fbem-27778	88	19	supporting	support	VERB
fbem-27778	88	20	the	the	DET
fbem-27778	88	21	development	development	NOUN
fbem-27778	88	22	of	of	ADP
fbem-27778	88	23	all	all	DET
fbem-27778	88	24	kinds	kind	NOUN
fbem-27778	88	25	of	of	ADP
fbem-27778	88	26	enterprises	enterprise	NOUN
fbem-27778	88	27	.	.	PUNCT
fbem-27778	89	1	4.5	4.5	NUM
fbem-27778	89	2	.	.	PUNCT
fbem-27778	89	3	default	default	NOUN
fbem-27778	89	4	distance	distance	NOUN
fbem-27778	89	5	and	and	CCONJ
fbem-27778	89	6	probability	probability	NOUN
fbem-27778	89	7	of	of	ADP
fbem-27778	89	8	default	default	NOUN
fbem-27778	89	9	the	the	DET
fbem-27778	89	10	default	default	NOUN
fbem-27778	89	11	distance	distance	NOUN
fbem-27778	89	12	is	be	AUX
fbem-27778	89	13	calculated	calculate	VERB
fbem-27778	89	14	according	accord	VERB
fbem-27778	89	15	to	to	ADP
fbem-27778	89	16	the	the	DET
fbem-27778	89	17	formula	formula	NOUN
fbem-27778	89	18	of	of	ADP
fbem-27778	89	19	kmv	kmv	PROPN
fbem-27778	89	20	model	model	NOUN
fbem-27778	89	21	:	:	PUNCT
fbem-27778	89	22	dtd	dtd	NOUN
fbem-27778	89	23	=	=	VERB
fbem-27778	89	24	asset	asset	NOUN
fbem-27778	89	25	value−liability	value−liability	NOUN
fbem-27778	89	26	value	value	NOUN
fbem-27778	89	27	asset	asset	NOUN
fbem-27778	89	28	volatility	volatility	NOUN
fbem-27778	89	29	×√time	×√time	NUM
fbem-27778	89	30	to	to	ADP
fbem-27778	89	31	maturity	maturity	NOUN
fbem-27778	89	32	(	(	PUNCT
fbem-27778	89	33	11	11	NUM
fbem-27778	89	34	)	)	PUNCT
fbem-27778	89	35	among	among	ADP
fbem-27778	89	36	them	they	PRON
fbem-27778	89	37	,	,	PUNCT
fbem-27778	89	38	the	the	DET
fbem-27778	89	39	asset	asset	NOUN
fbem-27778	89	40	value	value	NOUN
fbem-27778	89	41	is	be	AUX
fbem-27778	89	42	based	base	VERB
fbem-27778	89	43	on	on	ADP
fbem-27778	89	44	market	market	NOUN
fbem-27778	89	45	valuation	valuation	NOUN
fbem-27778	89	46	,	,	PUNCT
fbem-27778	89	47	the	the	DET
fbem-27778	89	48	liability	liability	NOUN
fbem-27778	89	49	value	value	NOUN
fbem-27778	89	50	is	be	AUX
fbem-27778	89	51	the	the	DET
fbem-27778	89	52	current	current	ADJ
fbem-27778	89	53	total	total	ADJ
fbem-27778	89	54	debt	debt	NOUN
fbem-27778	89	55	,	,	PUNCT
fbem-27778	89	56	the	the	DET
fbem-27778	89	57	asset	asset	NOUN
fbem-27778	89	58	volatility	volatility	NOUN
fbem-27778	89	59	is	be	AUX
fbem-27778	89	60	derived	derive	VERB
fbem-27778	89	61	from	from	ADP
fbem-27778	89	62	historical	historical	ADJ
fbem-27778	89	63	price	price	NOUN
fbem-27778	89	64	data	datum	NOUN
fbem-27778	89	65	,	,	PUNCT
fbem-27778	89	66	and	and	CCONJ
fbem-27778	89	67	the	the	DET
fbem-27778	89	68	maturity	maturity	NOUN
fbem-27778	89	69	time	time	NOUN
fbem-27778	89	70	is	be	AUX
fbem-27778	89	71	determined	determine	VERB
fbem-27778	89	72	according	accord	VERB
fbem-27778	89	73	to	to	ADP
fbem-27778	89	74	the	the	DET
fbem-27778	89	75	maturity	maturity	NOUN
fbem-27778	89	76	date	date	NOUN
fbem-27778	89	77	of	of	ADP
fbem-27778	89	78	the	the	DET
fbem-27778	89	79	bond	bond	NOUN
fbem-27778	89	80	.	.	PUNCT
fbem-27778	90	1	taking	take	VERB
fbem-27778	90	2	shanghai	shanghai	PROPN
fbem-27778	90	3	's	's	PART
fbem-27778	90	4	financial	financial	ADJ
fbem-27778	90	5	guarantee	guarantee	NOUN
fbem-27778	90	6	income	income	NOUN
fbem-27778	90	7	,	,	PUNCT
fbem-27778	90	8	the	the	DET
fbem-27778	90	9	volatility	volatility	NOUN
fbem-27778	90	10	and	and	CCONJ
fbem-27778	90	11	growth	growth	NOUN
fbem-27778	90	12	rate	rate	NOUN
fbem-27778	90	13	of	of	ADP
fbem-27778	90	14	financial	financial	ADJ
fbem-27778	90	15	guarantee	guarantee	NOUN
fbem-27778	90	16	income	income	NOUN
fbem-27778	90	17	and	and	CCONJ
fbem-27778	90	18	the	the	DET
fbem-27778	90	19	actual	actual	ADJ
fbem-27778	90	20	maturity	maturity	NOUN
fbem-27778	90	21	scale	scale	NOUN
fbem-27778	90	22	of	of	ADP
fbem-27778	90	23	urban	urban	ADJ
fbem-27778	90	24	investment	investment	NOUN
fbem-27778	90	25	bonds	bond	NOUN
fbem-27778	90	26	in	in	ADP
fbem-27778	90	27	2024	2024	NUM
fbem-27778	90	28	into	into	ADP
fbem-27778	90	29	formula	formula	NOUN
fbem-27778	90	30	8	8	NUM
fbem-27778	90	31	and	and	CCONJ
fbem-27778	90	32	9	9	NUM
fbem-27778	90	33	,	,	PUNCT
fbem-27778	90	34	we	we	PRON
fbem-27778	90	35	get	get	VERB
fbem-27778	90	36	dd	dd	NOUN
fbem-27778	90	37	=	=	NOUN
fbem-27778	90	38	3.4525	3.4525	NUM
fbem-27778	90	39	,	,	PUNCT
fbem-27778	90	40	p	p	NOUN
fbem-27778	90	41	=	=	PROPN
fbem-27778	90	42	0.105	0.105	NUM
fbem-27778	90	43	.	.	PUNCT
fbem-27778	91	1	taking	take	VERB
fbem-27778	91	2	the	the	DET
fbem-27778	91	3	default	default	NOUN
fbem-27778	91	4	distance	distance	NOUN
fbem-27778	91	5	and	and	CCONJ
fbem-27778	91	6	default	default	NOUN
fbem-27778	91	7	probability	probability	NOUN
fbem-27778	91	8	as	as	ADP
fbem-27778	91	9	the	the	DET
fbem-27778	91	10	bridge	bridge	NOUN
fbem-27778	91	11	,	,	PUNCT
fbem-27778	91	12	the	the	DET
fbem-27778	91	13	scale	scale	NOUN
fbem-27778	91	14	of	of	ADP
fbem-27778	91	15	shanghai	shanghai	PROPN
fbem-27778	91	16	's	's	PART
fbem-27778	91	17	security	security	NOUN
fbem-27778	91	18	debt	debt	NOUN
fbem-27778	91	19	is	be	AUX
fbem-27778	91	20	660.034	660.034	NUM
fbem-27778	91	21	billion	billion	NUM
fbem-27778	91	22	yuan	yuan	NOUN
fbem-27778	91	23	,	,	PUNCT
fbem-27778	91	24	and	and	CCONJ
fbem-27778	91	25	the	the	DET
fbem-27778	91	26	actual	actual	ADJ
fbem-27778	91	27	repayment	repayment	NOUN
fbem-27778	91	28	scale	scale	NOUN
fbem-27778	91	29	is	be	AUX
fbem-27778	91	30	129.243	129.243	NUM
fbem-27778	91	31	billion	billion	NUM
fbem-27778	91	32	yuan	yuan	NOUN
fbem-27778	91	33	.	.	PUNCT
fbem-27778	92	1	when	when	SCONJ
fbem-27778	92	2	the	the	DET
fbem-27778	92	3	actual	actual	ADJ
fbem-27778	92	4	debt	debt	NOUN
fbem-27778	92	5	repayment	repayment	NOUN
fbem-27778	92	6	scale	scale	NOUN
fbem-27778	92	7	is	be	AUX
fbem-27778	92	8	similar	similar	ADJ
fbem-27778	92	9	to	to	ADP
fbem-27778	92	10	or	or	CCONJ
fbem-27778	92	11	even	even	ADV
fbem-27778	92	12	larger	large	ADJ
fbem-27778	92	13	than	than	ADP
fbem-27778	92	14	safe	safe	ADJ
fbem-27778	92	15	debt	debt	NOUN
fbem-27778	92	16	scale	scale	NOUN
fbem-27778	92	17	,	,	PUNCT
fbem-27778	92	18	the	the	DET
fbem-27778	92	19	default	default	NOUN
fbem-27778	92	20	risk	risk	NOUN
fbem-27778	92	21	of	of	ADP
fbem-27778	92	22	the	the	DET
fbem-27778	92	23	province	province	NOUN
fbem-27778	92	24	is	be	AUX
fbem-27778	92	25	higher	high	ADJ
fbem-27778	92	26	,	,	PUNCT
fbem-27778	92	27	and	and	CCONJ
fbem-27778	92	28	the	the	DET
fbem-27778	92	29	credit	credit	NOUN
fbem-27778	92	30	risk	risk	NOUN
fbem-27778	92	31	of	of	ADP
fbem-27778	92	32	shanghai	shanghai	PROPN
fbem-27778	92	33	is	be	AUX
fbem-27778	92	34	lower	lower	ADV
fbem-27778	92	35	combined	combine	VERB
fbem-27778	92	36	with	with	ADP
fbem-27778	92	37	the	the	DET
fbem-27778	92	38	default	default	NOUN
fbem-27778	92	39	probability	probability	NOUN
fbem-27778	92	40	.	.	PUNCT
fbem-27778	93	1	454	454	NUM
fbem-27778	93	2	5	5	NUM
fbem-27778	93	3	.	.	PUNCT
fbem-27778	93	4	conclusion	conclusion	NOUN
fbem-27778	93	5	local	local	ADJ
fbem-27778	93	6	economic	economic	ADJ
fbem-27778	93	7	and	and	CCONJ
fbem-27778	93	8	financial	financial	ADJ
fbem-27778	93	9	strength	strength	NOUN
fbem-27778	93	10	,	,	PUNCT
fbem-27778	93	11	corporate	corporate	ADJ
fbem-27778	93	12	capital	capital	NOUN
fbem-27778	93	13	structure	structure	NOUN
fbem-27778	93	14	,	,	PUNCT
fbem-27778	93	15	profitability	profitability	NOUN
fbem-27778	93	16	and	and	CCONJ
fbem-27778	93	17	debt	debt	NOUN
fbem-27778	93	18	factor	factor	NOUN
fbem-27778	93	19	are	be	AUX
fbem-27778	93	20	the	the	DET
fbem-27778	93	21	main	main	ADJ
fbem-27778	93	22	factors	factor	NOUN
fbem-27778	93	23	affecting	affect	VERB
fbem-27778	93	24	the	the	DET
fbem-27778	93	25	credit	credit	NOUN
fbem-27778	93	26	spreads	spread	NOUN
fbem-27778	93	27	of	of	ADP
fbem-27778	93	28	urban	urban	ADJ
fbem-27778	93	29	investment	investment	NOUN
fbem-27778	93	30	bonds	bond	NOUN
fbem-27778	93	31	.	.	PUNCT
fbem-27778	94	1	the	the	DET
fbem-27778	94	2	default	default	NOUN
fbem-27778	94	3	risk	risk	NOUN
fbem-27778	94	4	of	of	ADP
fbem-27778	94	5	shanghai	shanghai	PROPN
fbem-27778	94	6	's	's	PART
fbem-27778	94	7	urban	urban	ADJ
fbem-27778	94	8	investment	investment	NOUN
fbem-27778	94	9	bonds	bond	NOUN
fbem-27778	94	10	is	be	AUX
fbem-27778	94	11	low	low	ADJ
fbem-27778	94	12	,	,	PUNCT
fbem-27778	94	13	which	which	PRON
fbem-27778	94	14	is	be	AUX
fbem-27778	94	15	closely	closely	ADV
fbem-27778	94	16	related	relate	VERB
fbem-27778	94	17	to	to	ADP
fbem-27778	94	18	shanghai	shanghai	PROPN
fbem-27778	94	19	's	's	PART
fbem-27778	94	20	strong	strong	ADJ
fbem-27778	94	21	economic	economic	ADJ
fbem-27778	94	22	strength	strength	NOUN
fbem-27778	94	23	and	and	CCONJ
fbem-27778	94	24	sound	sound	ADJ
fbem-27778	94	25	financial	financial	ADJ
fbem-27778	94	26	situation	situation	NOUN
fbem-27778	94	27	.	.	PUNCT
fbem-27778	95	1	it	it	PRON
fbem-27778	95	2	is	be	AUX
fbem-27778	95	3	suggested	suggest	VERB
fbem-27778	95	4	that	that	SCONJ
fbem-27778	95	5	local	local	ADJ
fbem-27778	95	6	governments	government	NOUN
fbem-27778	95	7	should	should	AUX
fbem-27778	95	8	continue	continue	VERB
fbem-27778	95	9	to	to	PART
fbem-27778	95	10	optimize	optimize	VERB
fbem-27778	95	11	the	the	DET
fbem-27778	95	12	structure	structure	NOUN
fbem-27778	95	13	of	of	ADP
fbem-27778	95	14	financial	financial	ADJ
fbem-27778	95	15	expenditure	expenditure	NOUN
fbem-27778	95	16	,	,	PUNCT
fbem-27778	95	17	improve	improve	VERB
fbem-27778	95	18	the	the	DET
fbem-27778	95	19	efficiency	efficiency	NOUN
fbem-27778	95	20	of	of	ADP
fbem-27778	95	21	the	the	DET
fbem-27778	95	22	use	use	NOUN
fbem-27778	95	23	of	of	ADP
fbem-27778	95	24	financial	financial	ADJ
fbem-27778	95	25	funds	fund	NOUN
fbem-27778	95	26	,	,	PUNCT
fbem-27778	95	27	and	and	CCONJ
fbem-27778	95	28	strengthen	strengthen	VERB
fbem-27778	95	29	the	the	DET
fbem-27778	95	30	supervision	supervision	NOUN
fbem-27778	95	31	of	of	ADP
fbem-27778	95	32	urban	urban	ADJ
fbem-27778	95	33	investment	investment	NOUN
fbem-27778	95	34	companies	company	NOUN
fbem-27778	95	35	to	to	PART
fbem-27778	95	36	ensure	ensure	VERB
fbem-27778	95	37	their	their	PRON
fbem-27778	95	38	financial	financial	ADJ
fbem-27778	95	39	health	health	NOUN
fbem-27778	95	40	and	and	CCONJ
fbem-27778	95	41	solvency	solvency	NOUN
fbem-27778	95	42	.	.	PUNCT
fbem-27778	96	1	for	for	ADP
fbem-27778	96	2	investors	investor	NOUN
fbem-27778	96	3	,	,	PUNCT
fbem-27778	96	4	shanghai	shanghai	PROPN
fbem-27778	96	5	urban	urban	PROPN
fbem-27778	96	6	investment	investment	NOUN
fbem-27778	96	7	bonds	bond	NOUN
fbem-27778	96	8	are	be	AUX
fbem-27778	96	9	a	a	DET
fbem-27778	96	10	relatively	relatively	ADV
fbem-27778	96	11	safe	safe	ADJ
fbem-27778	96	12	investment	investment	NOUN
fbem-27778	96	13	choice	choice	NOUN
fbem-27778	96	14	,	,	PUNCT
fbem-27778	96	15	but	but	CCONJ
fbem-27778	96	16	attention	attention	NOUN
fbem-27778	96	17	should	should	AUX
fbem-27778	96	18	be	be	AUX
fbem-27778	96	19	paid	pay	VERB
fbem-27778	96	20	to	to	ADP
fbem-27778	96	21	diversification	diversification	NOUN
fbem-27778	96	22	of	of	ADP
fbem-27778	96	23	investment	investment	NOUN
fbem-27778	96	24	to	to	PART
fbem-27778	96	25	reduce	reduce	VERB
fbem-27778	96	26	risk	risk	NOUN
fbem-27778	96	27	.	.	PUNCT
fbem-27778	97	1	this	this	DET
fbem-27778	97	2	study	study	NOUN
fbem-27778	97	3	is	be	AUX
fbem-27778	97	4	mainly	mainly	ADV
fbem-27778	97	5	based	base	VERB
fbem-27778	97	6	on	on	ADP
fbem-27778	97	7	historical	historical	ADJ
fbem-27778	97	8	data	datum	NOUN
fbem-27778	97	9	,	,	PUNCT
fbem-27778	97	10	and	and	CCONJ
fbem-27778	97	11	future	future	ADJ
fbem-27778	97	12	research	research	NOUN
fbem-27778	97	13	can	can	AUX
fbem-27778	97	14	consider	consider	VERB
fbem-27778	97	15	more	more	ADJ
fbem-27778	97	16	macroeconomic	macroeconomic	ADJ
fbem-27778	97	17	factors	factor	NOUN
fbem-27778	97	18	and	and	CCONJ
fbem-27778	97	19	market	market	NOUN
fbem-27778	97	20	dynamics	dynamic	NOUN
fbem-27778	97	21	to	to	PART
fbem-27778	97	22	improve	improve	VERB
fbem-27778	97	23	the	the	DET
fbem-27778	97	24	prediction	prediction	NOUN
fbem-27778	97	25	accuracy	accuracy	NOUN
fbem-27778	97	26	and	and	CCONJ
fbem-27778	97	27	applicability	applicability	NOUN
fbem-27778	97	28	of	of	ADP
fbem-27778	97	29	the	the	DET
fbem-27778	97	30	model	model	NOUN
fbem-27778	97	31	.	.	PUNCT
fbem-27778	98	1	references	reference	NOUN
fbem-27778	98	2	[	[	X
fbem-27778	98	3	1	1	NUM
fbem-27778	98	4	]	]	X
fbem-27778	98	5	yuan	yuan	NOUN
fbem-27778	98	6	,	,	PUNCT
fbem-27778	98	7	x.	x.	NOUN
fbem-27778	98	8	(	(	PUNCT
fbem-27778	98	9	2021	2021	NUM
fbem-27778	98	10	)	)	PUNCT
fbem-27778	98	11	.	.	PUNCT
fbem-27778	99	1	research	research	NOUN
fbem-27778	99	2	on	on	ADP
fbem-27778	99	3	credit	credit	NOUN
fbem-27778	99	4	risk	risk	NOUN
fbem-27778	99	5	early	early	ADJ
fbem-27778	99	6	warning	warning	NOUN
fbem-27778	99	7	of	of	ADP
fbem-27778	99	8	urban	urban	ADJ
fbem-27778	99	9	investment	investment	NOUN
fbem-27778	99	10	bonds	bond	NOUN
fbem-27778	99	11	based	base	VERB
fbem-27778	99	12	on	on	ADP
fbem-27778	99	13	kmv	kmv	PROPN
fbem-27778	99	14	and	and	CCONJ
fbem-27778	99	15	multi	multi	ADJ
fbem-27778	99	16	-	-	ADJ
fbem-27778	99	17	factor	factor	NOUN
fbem-27778	99	18	model	model	NOUN
fbem-27778	99	19	.	.	PUNCT
fbem-27778	100	1	thesis	thesis	NOUN
fbem-27778	100	2	of	of	ADP
fbem-27778	100	3	china	china	PROPN
fbem-27778	100	4	university	university	PROPN
fbem-27778	100	5	of	of	ADP
fbem-27778	100	6	petroleum	petroleum	NOUN
fbem-27778	100	7	(	(	PUNCT
fbem-27778	100	8	beijing	beijing	PROPN
fbem-27778	100	9	)	)	PUNCT
fbem-27778	100	10	.	.	PUNCT
fbem-27778	101	1	[	[	X
fbem-27778	101	2	2	2	NUM
fbem-27778	101	3	]	]	X
fbem-27778	101	4	zhu	zhu	PROPN
fbem-27778	101	5	,	,	PUNCT
fbem-27778	101	6	j.	j.	PROPN
fbem-27778	101	7	,	,	PUNCT
fbem-27778	101	8	&	&	CCONJ
fbem-27778	101	9	li	li	PROPN
fbem-27778	101	10	,	,	PUNCT
fbem-27778	101	11	q.	q.	PROPN
fbem-27778	101	12	(	(	PUNCT
fbem-27778	101	13	2016	2016	NUM
fbem-27778	101	14	)	)	PUNCT
fbem-27778	101	15	.	.	PUNCT
fbem-27778	102	1	estimation	estimation	NOUN
fbem-27778	102	2	of	of	ADP
fbem-27778	102	3	local	local	ADJ
fbem-27778	102	4	government	government	NOUN
fbem-27778	102	5	bond	bond	NOUN
fbem-27778	102	6	issuance	issuance	NOUN
fbem-27778	102	7	scale	scale	NOUN
fbem-27778	102	8	from	from	ADP
fbem-27778	102	9	the	the	DET
fbem-27778	102	10	perspective	perspective	NOUN
fbem-27778	102	11	of	of	ADP
fbem-27778	102	12	credit	credit	NOUN
fbem-27778	102	13	risk	risk	NOUN
fbem-27778	102	14	—	—	PUNCT
fbem-27778	102	15	empirical	empirical	ADJ
fbem-27778	102	16	analysis	analysis	NOUN
fbem-27778	102	17	based	base	VERB
fbem-27778	102	18	on	on	ADP
fbem-27778	102	19	kmv	kmv	PROPN
fbem-27778	102	20	model	model	NOUN
fbem-27778	102	21	.	.	PUNCT
fbem-27778	103	1	journal	journal	PROPN
fbem-27778	103	2	of	of	ADP
fbem-27778	103	3	zhongnan	zhongnan	PROPN
fbem-27778	103	4	university	university	PROPN
fbem-27778	103	5	of	of	ADP
fbem-27778	103	6	economics	economic	NOUN
fbem-27778	103	7	and	and	CCONJ
fbem-27778	103	8	law	law	NOUN
fbem-27778	103	9	,	,	PUNCT
fbem-27778	103	10	(	(	PUNCT
fbem-27778	103	11	2	2	NUM
fbem-27778	103	12	)	)	PUNCT
fbem-27778	103	13	,	,	PUNCT
fbem-27778	103	14	37	37	NUM
fbem-27778	103	15	-	-	SYM
fbem-27778	103	16	42	42	NUM
fbem-27778	103	17	.	.	PUNCT
fbem-27778	104	1	[	[	X
fbem-27778	104	2	3	3	NUM
fbem-27778	104	3	]	]	X
fbem-27778	104	4	xia	xia	PROPN
fbem-27778	104	5	,	,	PUNCT
fbem-27778	104	6	s.	s.	PROPN
fbem-27778	104	7	(	(	PUNCT
fbem-27778	104	8	2019	2019	NUM
fbem-27778	104	9	)	)	PUNCT
fbem-27778	104	10	.	.	PUNCT
fbem-27778	105	1	research	research	NOUN
fbem-27778	105	2	on	on	ADP
fbem-27778	105	3	local	local	ADJ
fbem-27778	105	4	government	government	NOUN
fbem-27778	105	5	debt	debt	NOUN
fbem-27778	105	6	risk	risk	NOUN
fbem-27778	105	7	early	early	ADJ
fbem-27778	105	8	warning	warning	NOUN
fbem-27778	105	9	based	base	VERB
fbem-27778	105	10	on	on	ADP
fbem-27778	105	11	kmv	kmv	PROPN
fbem-27778	105	12	model	model	NOUN
fbem-27778	105	13	.	.	PUNCT
fbem-27778	106	1	financial	financial	ADJ
fbem-27778	106	2	review	review	PROPN
fbem-27778	106	3	,	,	PUNCT
fbem-27778	106	4	4	4	NUM
fbem-27778	106	5	,	,	PUNCT
fbem-27778	106	6	114	114	NUM
fbem-27778	106	7	-	-	SYM
fbem-27778	106	8	123	123	NUM
fbem-27778	106	9	.	.	PUNCT
fbem-27778	107	1	[	[	X
fbem-27778	107	2	4	4	NUM
fbem-27778	107	3	]	]	X
fbem-27778	107	4	sun	sun	NOUN
fbem-27778	107	5	,	,	PUNCT
fbem-27778	107	6	l	l	PROPN
fbem-27778	107	7	&	&	CCONJ
fbem-27778	107	8	kong	kong	PROPN
fbem-27778	107	9	,	,	PUNCT
fbem-27778	107	10	w.	w.	PROPN
fbem-27778	107	11	(	(	PUNCT
fbem-27778	107	12	2023	2023	NUM
fbem-27778	107	13	)	)	PUNCT
fbem-27778	107	14	.	.	PUNCT
fbem-27778	108	1	measurement	measurement	NOUN
fbem-27778	108	2	and	and	CCONJ
fbem-27778	108	3	early	early	ADJ
fbem-27778	108	4	warning	warning	NOUN
fbem-27778	108	5	of	of	ADP
fbem-27778	108	6	default	default	NOUN
fbem-27778	108	7	risk	risk	NOUN
fbem-27778	108	8	of	of	ADP
fbem-27778	108	9	urban	urban	ADJ
fbem-27778	108	10	investment	investment	NOUN
fbem-27778	108	11	bonds	bond	NOUN
fbem-27778	108	12	—	—	PUNCT
fbem-27778	108	13	based	base	VERB
fbem-27778	108	14	on	on	ADP
fbem-27778	108	15	kmv	kmv	PROPN
fbem-27778	108	16	and	and	CCONJ
fbem-27778	108	17	bp	bp	PROPN
fbem-27778	108	18	model	model	PROPN
fbem-27778	108	19	.	.	PUNCT
fbem-27778	109	1	shanghai	shanghai	PROPN
fbem-27778	109	2	economy	economy	PROPN
fbem-27778	109	3	(	(	PUNCT
fbem-27778	109	4	05	05	NUM
fbem-27778	109	5	)	)	PUNCT
fbem-27778	109	6	,	,	PUNCT
fbem-27778	109	7	81	81	NUM
fbem-27778	109	8	-	-	SYM
fbem-27778	109	9	100	100	NUM
fbem-27778	109	10	.	.	PUNCT
fbem-27778	110	1	[	[	X
fbem-27778	110	2	5	5	NUM
fbem-27778	110	3	]	]	X
fbem-27778	110	4	zeng	zeng	PROPN
fbem-27778	110	5	,	,	PUNCT
fbem-27778	110	6	l.	l.	PROPN
fbem-27778	110	7	,	,	PUNCT
fbem-27778	110	8	lau	lau	PROPN
fbem-27778	110	9	,	,	PUNCT
fbem-27778	110	10	w.	w.	PROPN
fbem-27778	110	11	y.	y.	PROPN
fbem-27778	110	12	,	,	PUNCT
fbem-27778	110	13	&	&	CCONJ
fbem-27778	110	14	abdul	abdul	PROPN
fbem-27778	110	15	bahri	bahri	PROPN
fbem-27778	110	16	,	,	PUNCT
fbem-27778	110	17	e.	e.	PROPN
fbem-27778	110	18	n.	n.	PROPN
fbem-27778	110	19	(	(	PUNCT
fbem-27778	110	20	2022	2022	NUM
fbem-27778	110	21	)	)	PUNCT
fbem-27778	110	22	.	.	PUNCT
fbem-27778	111	1	can	can	AUX
fbem-27778	111	2	the	the	DET
fbem-27778	111	3	modified	modified	ADJ
fbem-27778	111	4	esg	esg	PROPN
fbem-27778	111	5	-	-	PUNCT
fbem-27778	111	6	kmv	kmv	PROPN
fbem-27778	111	7	logit	logit	PROPN
fbem-27778	111	8	model	model	NOUN
fbem-27778	111	9	explain	explain	VERB
fbem-27778	111	10	the	the	DET
fbem-27778	111	11	default	default	NOUN
fbem-27778	111	12	risk	risk	NOUN
fbem-27778	111	13	of	of	ADP
fbem-27778	111	14	internet	internet	NOUN
fbem-27778	111	15	finance	finance	NOUN
fbem-27778	111	16	companies	company	NOUN
fbem-27778	111	17	?	?	PUNCT
fbem-27778	112	1	frontiers	frontier	NOUN
fbem-27778	112	2	in	in	ADP
fbem-27778	112	3	environmental	environmental	ADJ
fbem-27778	112	4	science	science	NOUN
fbem-27778	112	5	,	,	PUNCT
fbem-27778	112	6	10	10	NUM
fbem-27778	112	7	,	,	PUNCT
fbem-27778	112	8	961239	961239	NUM
fbem-27778	112	9	.	.	PUNCT
fbem-27778	113	1	[	[	X
fbem-27778	113	2	6	6	NUM
fbem-27778	113	3	]	]	PUNCT
fbem-27778	113	4	peykani	peykani	NOUN
fbem-27778	113	5	,	,	PUNCT
fbem-27778	113	6	p.	p.	PROPN
fbem-27778	113	7	,	,	PUNCT
fbem-27778	113	8	sargolzaei	sargolzaei	PROPN
fbem-27778	113	9	,	,	PUNCT
fbem-27778	113	10	m.	m.	NOUN
fbem-27778	113	11	,	,	PUNCT
fbem-27778	113	12	sanadgol	sanadgol	NOUN
fbem-27778	113	13	,	,	PUNCT
fbem-27778	113	14	n.	n.	NOUN
fbem-27778	113	15	,	,	PUNCT
fbem-27778	113	16	takaloo	takaloo	NOUN
fbem-27778	113	17	,	,	PUNCT
fbem-27778	113	18	a.	a.	NOUN
fbem-27778	113	19	,	,	PUNCT
fbem-27778	113	20	&	&	CCONJ
fbem-27778	113	21	kamyabfar	kamyabfar	PROPN
fbem-27778	113	22	,	,	PUNCT
fbem-27778	113	23	h.	h.	PROPN
fbem-27778	113	24	(	(	PUNCT
fbem-27778	113	25	2023	2023	NUM
fbem-27778	113	26	)	)	PUNCT
fbem-27778	113	27	.	.	PUNCT
fbem-27778	114	1	the	the	DET
fbem-27778	114	2	application	application	NOUN
fbem-27778	114	3	of	of	ADP
fbem-27778	114	4	structural	structural	ADJ
fbem-27778	114	5	and	and	CCONJ
fbem-27778	114	6	machine	machine	NOUN
fbem-27778	114	7	learning	learning	NOUN
fbem-27778	114	8	models	model	NOUN
fbem-27778	114	9	to	to	PART
fbem-27778	114	10	predict	predict	VERB
fbem-27778	114	11	the	the	DET
fbem-27778	114	12	default	default	NOUN
fbem-27778	114	13	risk	risk	NOUN
fbem-27778	114	14	of	of	ADP
fbem-27778	114	15	listed	list	VERB
fbem-27778	114	16	companies	company	NOUN
fbem-27778	114	17	in	in	ADP
fbem-27778	114	18	the	the	DET
fbem-27778	114	19	iranian	iranian	ADJ
fbem-27778	114	20	capital	capital	NOUN
fbem-27778	114	21	market	market	NOUN
fbem-27778	114	22	.	.	PUNCT
fbem-27778	115	1	plos	plos	PROPN
fbem-27778	115	2	one	one	NUM
fbem-27778	115	3	,	,	PUNCT
fbem-27778	115	4	18(11	18(11	NUM
fbem-27778	115	5	)	)	PUNCT
fbem-27778	115	6	,	,	PUNCT
fbem-27778	115	7	e0292081	e0292081	NOUN
fbem-27778	115	8	.	.	PUNCT
fbem-27778	116	1	[	[	X
fbem-27778	116	2	7	7	NUM
fbem-27778	116	3	]	]	X
fbem-27778	116	4	luo	luo	PROPN
fbem-27778	116	5	,	,	PUNCT
fbem-27778	116	6	z.	z.	PROPN
fbem-27778	116	7	(	(	PUNCT
fbem-27778	116	8	2023	2023	NUM
fbem-27778	116	9	)	)	PUNCT
fbem-27778	116	10	.	.	PUNCT
fbem-27778	117	1	analysis	analysis	NOUN
fbem-27778	117	2	and	and	CCONJ
fbem-27778	117	3	countermeasures	countermeasure	NOUN
fbem-27778	117	4	of	of	ADP
fbem-27778	117	5	the	the	DET
fbem-27778	117	6	current	current	ADJ
fbem-27778	117	7	situation	situation	NOUN
fbem-27778	117	8	of	of	ADP
fbem-27778	117	9	china	china	PROPN
fbem-27778	117	10	's	's	PART
fbem-27778	117	11	urban	urban	ADJ
fbem-27778	117	12	investment	investment	NOUN
fbem-27778	117	13	bonds	bond	NOUN
fbem-27778	117	14	from	from	ADP
fbem-27778	117	15	the	the	DET
fbem-27778	117	16	perspective	perspective	NOUN
fbem-27778	117	17	of	of	ADP
fbem-27778	117	18	credit	credit	NOUN
fbem-27778	117	19	analysis	analysis	NOUN
fbem-27778	117	20	.	.	PUNCT
fbem-27778	118	1	scientific	scientific	ADJ
fbem-27778	118	2	development	development	NOUN
fbem-27778	118	3	(	(	PUNCT
fbem-27778	118	4	11	11	NUM
fbem-27778	118	5	)	)	PUNCT
fbem-27778	118	6	,	,	PUNCT
fbem-27778	118	7	20	20	NUM
fbem-27778	118	8	-	-	SYM
fbem-27778	118	9	29	29	NUM
fbem-27778	118	10	.	.	PUNCT