id sid tid token lemma pos fbem-28258 1 1 frontiers frontier NOUN fbem-28258 1 2 in in ADP fbem-28258 1 3 business business NOUN fbem-28258 1 4 , , PUNCT fbem-28258 1 5 economics economic NOUN fbem-28258 1 6 and and CCONJ fbem-28258 1 7 management management NOUN fbem-28258 1 8 issn issn PROPN fbem-28258 1 9 : : PUNCT fbem-28258 1 10 2766 2766 NUM fbem-28258 1 11 - - PUNCT fbem-28258 1 12 824x 824x NUM fbem-28258 1 13 | | ADJ fbem-28258 1 14 vol vol NOUN fbem-28258 1 15 . . PROPN fbem-28258 1 16 17 17 NUM fbem-28258 1 17 , , PUNCT fbem-28258 1 18 no no INTJ fbem-28258 1 19 . . NOUN fbem-28258 1 20 3 3 NUM fbem-28258 1 21 , , PUNCT fbem-28258 1 22 2024 2024 NUM fbem-28258 1 23 154 154 NUM fbem-28258 1 24 the the DET fbem-28258 1 25 impact impact NOUN fbem-28258 1 26 of of ADP fbem-28258 1 27 digitization digitization NOUN fbem-28258 1 28 of of ADP fbem-28258 1 29 tax tax NOUN fbem-28258 1 30 collection collection NOUN fbem-28258 1 31 and and CCONJ fbem-28258 1 32 administration administration NOUN fbem-28258 1 33 on on ADP fbem-28258 1 34 earnings earning NOUN fbem-28258 1 35 management management NOUN fbem-28258 1 36 of of ADP fbem-28258 1 37 companies company NOUN fbem-28258 1 38 jiawen jiawen VERB fbem-28258 1 39 zhang zhang PROPN fbem-28258 1 40 * * PUNCT fbem-28258 1 41 school school NOUN fbem-28258 1 42 of of ADP fbem-28258 1 43 finance finance NOUN fbem-28258 1 44 and and CCONJ fbem-28258 1 45 taxation taxation NOUN fbem-28258 1 46 , , PUNCT fbem-28258 1 47 zhejiang zhejiang PROPN fbem-28258 1 48 university university PROPN fbem-28258 1 49 of of ADP fbem-28258 1 50 finance finance NOUN fbem-28258 1 51 and and CCONJ fbem-28258 1 52 economics economic NOUN fbem-28258 1 53 , , PUNCT fbem-28258 1 54 hangzhou hangzhou PROPN fbem-28258 1 55 , , PUNCT fbem-28258 1 56 china china PROPN fbem-28258 1 57 * * PUNCT fbem-28258 1 58 corresponding correspond VERB fbem-28258 1 59 author author NOUN fbem-28258 1 60 : : PUNCT fbem-28258 1 61 jiawen jiawen PROPN fbem-28258 1 62 zhang zhang PROPN fbem-28258 1 63 ( ( PUNCT fbem-28258 1 64 email email NOUN fbem-28258 1 65 : : PUNCT fbem-28258 1 66 zhangjiawenzjw0805@163.com zhangjiawenzjw0805@163.com NUM fbem-28258 1 67 ) ) PUNCT fbem-28258 1 68 abstract abstract NOUN fbem-28258 1 69 : : PUNCT fbem-28258 1 70 in in ADP fbem-28258 1 71 recent recent ADJ fbem-28258 1 72 years year NOUN fbem-28258 1 73 , , PUNCT fbem-28258 1 74 the the DET fbem-28258 1 75 rapid rapid ADJ fbem-28258 1 76 development development NOUN fbem-28258 1 77 of of ADP fbem-28258 1 78 information information NOUN fbem-28258 1 79 technology technology NOUN fbem-28258 1 80 has have AUX fbem-28258 1 81 promoted promote VERB fbem-28258 1 82 the the DET fbem-28258 1 83 reform reform NOUN fbem-28258 1 84 of of ADP fbem-28258 1 85 china china PROPN fbem-28258 1 86 's 's PART fbem-28258 1 87 tax tax NOUN fbem-28258 1 88 model model NOUN fbem-28258 1 89 to to ADP fbem-28258 1 90 standardization standardization NOUN fbem-28258 1 91 and and CCONJ fbem-28258 1 92 informatization informatization NOUN fbem-28258 1 93 . . PUNCT fbem-28258 2 1 based base VERB fbem-28258 2 2 on on ADP fbem-28258 2 3 the the DET fbem-28258 2 4 basic basic ADJ fbem-28258 2 5 perspective perspective NOUN fbem-28258 2 6 of of ADP fbem-28258 2 7 information information NOUN fbem-28258 2 8 asymmetry asymmetry NOUN fbem-28258 2 9 , , PUNCT fbem-28258 2 10 this this DET fbem-28258 2 11 paper paper NOUN fbem-28258 2 12 constructs construct VERB fbem-28258 2 13 a a DET fbem-28258 2 14 differencein differencein ADJ fbem-28258 2 15 - - PUNCT fbem-28258 2 16 differences difference NOUN fbem-28258 2 17 model model NOUN fbem-28258 2 18 with with ADP fbem-28258 2 19 the the DET fbem-28258 2 20 golden golden ADJ fbem-28258 2 21 tax tax NOUN fbem-28258 2 22 project project NOUN fbem-28258 2 23 phase phase NOUN fbem-28258 2 24 iii iii NOUN fbem-28258 2 25 which which PRON fbem-28258 2 26 has have AUX fbem-28258 2 27 been be AUX fbem-28258 2 28 put put VERB fbem-28258 2 29 into into ADP fbem-28258 2 30 practice practice NOUN fbem-28258 2 31 as as ADP fbem-28258 2 32 the the DET fbem-28258 2 33 policy policy NOUN fbem-28258 2 34 background background NOUN fbem-28258 2 35 and and CCONJ fbem-28258 2 36 ashare ashare VERB fbem-28258 2 37 listed list VERB fbem-28258 2 38 companies company NOUN fbem-28258 2 39 as as SCONJ fbem-28258 2 40 samples sample NOUN fbem-28258 2 41 to to PART fbem-28258 2 42 empirically empirically ADV fbem-28258 2 43 test test VERB fbem-28258 2 44 the the DET fbem-28258 2 45 impact impact NOUN fbem-28258 2 46 of of ADP fbem-28258 2 47 digitization digitization NOUN fbem-28258 2 48 of of ADP fbem-28258 2 49 tax tax NOUN fbem-28258 2 50 collection collection NOUN fbem-28258 2 51 and and CCONJ fbem-28258 2 52 administration administration NOUN fbem-28258 2 53 on on ADP fbem-28258 2 54 the the DET fbem-28258 2 55 degree degree NOUN fbem-28258 2 56 of of ADP fbem-28258 2 57 real real ADJ fbem-28258 2 58 earnings earning NOUN fbem-28258 2 59 management management NOUN fbem-28258 2 60 of of ADP fbem-28258 2 61 enterprises enterprise NOUN fbem-28258 2 62 . . PUNCT fbem-28258 3 1 the the DET fbem-28258 3 2 results result NOUN fbem-28258 3 3 show show VERB fbem-28258 3 4 that that SCONJ fbem-28258 3 5 the the DET fbem-28258 3 6 construction construction NOUN fbem-28258 3 7 of of ADP fbem-28258 3 8 the the DET fbem-28258 3 9 golden golden ADJ fbem-28258 3 10 tax tax NOUN fbem-28258 3 11 project project NOUN fbem-28258 3 12 phase phase NOUN fbem-28258 3 13 iii iii NOUN fbem-28258 3 14 has have VERB fbem-28258 3 15 a a DET fbem-28258 3 16 significant significant ADJ fbem-28258 3 17 inhibitory inhibitory ADJ fbem-28258 3 18 effect effect NOUN fbem-28258 3 19 on on ADP fbem-28258 3 20 real real ADJ fbem-28258 3 21 earnings earning NOUN fbem-28258 3 22 management management NOUN fbem-28258 3 23 . . PUNCT fbem-28258 4 1 and and CCONJ fbem-28258 4 2 corporate corporate ADJ fbem-28258 4 3 tax tax NOUN fbem-28258 4 4 avoidance avoidance NOUN fbem-28258 4 5 plays play VERB fbem-28258 4 6 an an DET fbem-28258 4 7 intermediary intermediary ADJ fbem-28258 4 8 effect effect NOUN fbem-28258 4 9 . . PUNCT fbem-28258 5 1 keywords keyword NOUN fbem-28258 5 2 : : PUNCT fbem-28258 5 3 golden golden ADJ fbem-28258 5 4 tax tax NOUN fbem-28258 5 5 project project NOUN fbem-28258 5 6 phase phase NOUN fbem-28258 5 7 iii iii NOUN fbem-28258 5 8 , , PUNCT fbem-28258 5 9 tax tax NOUN fbem-28258 5 10 collection collection NOUN fbem-28258 5 11 and and CCONJ fbem-28258 5 12 administration administration NOUN fbem-28258 5 13 , , PUNCT fbem-28258 5 14 real real ADJ fbem-28258 5 15 earnings earning NOUN fbem-28258 5 16 management management NOUN fbem-28258 5 17 . . PUNCT fbem-28258 6 1 1 1 X fbem-28258 6 2 . . X fbem-28258 6 3 introduction introduction NOUN fbem-28258 6 4 as as ADP fbem-28258 6 5 an an DET fbem-28258 6 6 essential essential ADJ fbem-28258 6 7 means mean NOUN fbem-28258 6 8 of of ADP fbem-28258 6 9 external external ADJ fbem-28258 6 10 corporate corporate ADJ fbem-28258 6 11 governance governance NOUN fbem-28258 6 12 , , PUNCT fbem-28258 6 13 tax tax NOUN fbem-28258 6 14 collection collection NOUN fbem-28258 6 15 and and CCONJ fbem-28258 6 16 administration administration NOUN fbem-28258 6 17 could could AUX fbem-28258 6 18 affect affect VERB fbem-28258 6 19 the the DET fbem-28258 6 20 earnings earning NOUN fbem-28258 6 21 management management NOUN fbem-28258 6 22 behavior behavior NOUN fbem-28258 6 23 of of ADP fbem-28258 6 24 the the DET fbem-28258 6 25 management management NOUN fbem-28258 6 26 . . PUNCT fbem-28258 7 1 studies study NOUN fbem-28258 7 2 have have AUX fbem-28258 7 3 shown show VERB fbem-28258 7 4 that that SCONJ fbem-28258 7 5 high high ADJ fbem-28258 7 6 - - PUNCT fbem-28258 7 7 intensity intensity NOUN fbem-28258 7 8 tax tax NOUN fbem-28258 7 9 collection collection NOUN fbem-28258 7 10 and and CCONJ fbem-28258 7 11 administration administration NOUN fbem-28258 7 12 could could AUX fbem-28258 7 13 restrain restrain VERB fbem-28258 7 14 earnings earning NOUN fbem-28258 7 15 management management NOUN fbem-28258 7 16 behavior behavior NOUN fbem-28258 7 17 and and CCONJ fbem-28258 7 18 reduce reduce VERB fbem-28258 7 19 the the DET fbem-28258 7 20 marginal marginal ADJ fbem-28258 7 21 income income NOUN fbem-28258 7 22 of of ADP fbem-28258 7 23 tax tax NOUN fbem-28258 7 24 avoidance avoidance NOUN fbem-28258 7 25 [ [ X fbem-28258 7 26 1 1 NUM fbem-28258 7 27 ] ] PUNCT fbem-28258 7 28 . . PUNCT fbem-28258 8 1 in in ADP fbem-28258 8 2 recent recent ADJ fbem-28258 8 3 years year NOUN fbem-28258 8 4 , , PUNCT fbem-28258 8 5 with with ADP fbem-28258 8 6 the the DET fbem-28258 8 7 gradual gradual ADJ fbem-28258 8 8 deepening deepening NOUN fbem-28258 8 9 of of ADP fbem-28258 8 10 domestic domestic ADJ fbem-28258 8 11 market market NOUN fbem-28258 8 12 capitalization capitalization NOUN fbem-28258 8 13 , , PUNCT fbem-28258 8 14 earnings earning NOUN fbem-28258 8 15 management management NOUN fbem-28258 8 16 has have AUX fbem-28258 8 17 become become VERB fbem-28258 8 18 more more ADV fbem-28258 8 19 frequent frequent ADJ fbem-28258 8 20 and and CCONJ fbem-28258 8 21 widespread widespread ADJ fbem-28258 8 22 in in ADP fbem-28258 8 23 listed list VERB fbem-28258 8 24 companies company NOUN fbem-28258 8 25 , , PUNCT fbem-28258 8 26 and and CCONJ fbem-28258 8 27 the the DET fbem-28258 8 28 business business NOUN fbem-28258 8 29 model model NOUN fbem-28258 8 30 and and CCONJ fbem-28258 8 31 accounting accounting NOUN fbem-28258 8 32 model model NOUN fbem-28258 8 33 have have AUX fbem-28258 8 34 become become VERB fbem-28258 8 35 increasingly increasingly ADV fbem-28258 8 36 complex complex ADJ fbem-28258 8 37 . . PUNCT fbem-28258 9 1 these these DET fbem-28258 9 2 changes change NOUN fbem-28258 9 3 force force VERB fbem-28258 9 4 the the DET fbem-28258 9 5 tax tax NOUN fbem-28258 9 6 authorities authority NOUN fbem-28258 9 7 to to PART fbem-28258 9 8 change change VERB fbem-28258 9 9 the the DET fbem-28258 9 10 traditional traditional ADJ fbem-28258 9 11 tax tax NOUN fbem-28258 9 12 model model NOUN fbem-28258 9 13 . . PUNCT fbem-28258 10 1 therefore therefore ADV fbem-28258 10 2 , , PUNCT fbem-28258 10 3 in in ADP fbem-28258 10 4 china china PROPN fbem-28258 10 5 , , PUNCT fbem-28258 10 6 the the DET fbem-28258 10 7 tax tax NOUN fbem-28258 10 8 information information NOUN fbem-28258 10 9 management management NOUN fbem-28258 10 10 system system NOUN fbem-28258 10 11 has have AUX fbem-28258 10 12 been be AUX fbem-28258 10 13 built build VERB fbem-28258 10 14 to to PART fbem-28258 10 15 achieve achieve VERB fbem-28258 10 16 comprehensive comprehensive ADJ fbem-28258 10 17 , , PUNCT fbem-28258 10 18 efficient efficient ADJ fbem-28258 10 19 and and CCONJ fbem-28258 10 20 strict strict ADJ fbem-28258 10 21 monitoring monitoring NOUN fbem-28258 10 22 of of ADP fbem-28258 10 23 tax tax NOUN fbem-28258 10 24 revenue revenue NOUN fbem-28258 10 25 and and CCONJ fbem-28258 10 26 promote promote VERB fbem-28258 10 27 the the DET fbem-28258 10 28 modernization modernization NOUN fbem-28258 10 29 and and CCONJ fbem-28258 10 30 standardization standardization NOUN fbem-28258 10 31 process process NOUN fbem-28258 10 32 of of ADP fbem-28258 10 33 tax tax NOUN fbem-28258 10 34 collection collection NOUN fbem-28258 10 35 and and CCONJ fbem-28258 10 36 administration administration NOUN fbem-28258 10 37 . . PUNCT fbem-28258 11 1 at at ADP fbem-28258 11 2 present present ADJ fbem-28258 11 3 , , PUNCT fbem-28258 11 4 the the DET fbem-28258 11 5 golden golden ADJ fbem-28258 11 6 tax tax NOUN fbem-28258 11 7 project project NOUN fbem-28258 11 8 phase phase NOUN fbem-28258 11 9 iii iii X fbem-28258 11 10 ( ( PUNCT fbem-28258 11 11 gt_iii gt_iii PROPN fbem-28258 11 12 ) ) PUNCT fbem-28258 11 13 has have AUX fbem-28258 11 14 been be AUX fbem-28258 11 15 fully fully ADV fbem-28258 11 16 put put VERB fbem-28258 11 17 into into ADP fbem-28258 11 18 operation operation NOUN fbem-28258 11 19 , , PUNCT fbem-28258 11 20 and and CCONJ fbem-28258 11 21 its its PRON fbem-28258 11 22 impact impact NOUN fbem-28258 11 23 on on ADP fbem-28258 11 24 the the DET fbem-28258 11 25 internal internal ADJ fbem-28258 11 26 governance governance NOUN fbem-28258 11 27 of of ADP fbem-28258 11 28 enterprises enterprise NOUN fbem-28258 11 29 is be AUX fbem-28258 11 30 a a DET fbem-28258 11 31 problem problem NOUN fbem-28258 11 32 worthy worthy ADJ fbem-28258 11 33 of of ADP fbem-28258 11 34 attention attention NOUN fbem-28258 11 35 . . PUNCT fbem-28258 12 1 2 2 X fbem-28258 12 2 . . X fbem-28258 12 3 literature literature NOUN fbem-28258 12 4 review review VERB fbem-28258 12 5 2.1 2.1 NUM fbem-28258 12 6 . . PUNCT fbem-28258 13 1 tax tax NOUN fbem-28258 13 2 collection collection NOUN fbem-28258 13 3 and and CCONJ fbem-28258 13 4 administration administration NOUN fbem-28258 13 5 bird bird PROPN fbem-28258 13 6 and and CCONJ fbem-28258 13 7 zolt zolt PROPN fbem-28258 13 8 argue argue VERB fbem-28258 13 9 that that SCONJ fbem-28258 13 10 , , PUNCT fbem-28258 13 11 with with ADP fbem-28258 13 12 the the DET fbem-28258 13 13 help help NOUN fbem-28258 13 14 of of ADP fbem-28258 13 15 information information NOUN fbem-28258 13 16 technology technology NOUN fbem-28258 13 17 , , PUNCT fbem-28258 13 18 developing develop VERB fbem-28258 13 19 countries country NOUN fbem-28258 13 20 need need VERB fbem-28258 13 21 to to PART fbem-28258 13 22 re re VERB fbem-28258 13 23 - - VERB fbem-28258 13 24 examine examine VERB fbem-28258 13 25 their their PRON fbem-28258 13 26 tax tax NOUN fbem-28258 13 27 systems system NOUN fbem-28258 13 28 and and CCONJ fbem-28258 13 29 institutions institution NOUN fbem-28258 13 30 [ [ X fbem-28258 13 31 2 2 NUM fbem-28258 13 32 ] ] PUNCT fbem-28258 13 33 . . PUNCT fbem-28258 14 1 the the DET fbem-28258 14 2 gt_iii gt_iii PROPN fbem-28258 14 3 based base VERB fbem-28258 14 4 on on ADP fbem-28258 14 5 computer computer NOUN fbem-28258 14 6 network network NOUN fbem-28258 14 7 has have AUX fbem-28258 14 8 been be AUX fbem-28258 14 9 fully fully ADV fbem-28258 14 10 opened open VERB fbem-28258 14 11 in in ADP fbem-28258 14 12 china china PROPN fbem-28258 14 13 . . PUNCT fbem-28258 15 1 this this PRON fbem-28258 15 2 greatly greatly ADV fbem-28258 15 3 improves improve VERB fbem-28258 15 4 the the DET fbem-28258 15 5 level level NOUN fbem-28258 15 6 of of ADP fbem-28258 15 7 tax tax NOUN fbem-28258 15 8 collection collection NOUN fbem-28258 15 9 and and CCONJ fbem-28258 15 10 management management NOUN fbem-28258 15 11 of of ADP fbem-28258 15 12 tax tax NOUN fbem-28258 15 13 departments department NOUN fbem-28258 15 14 , , PUNCT fbem-28258 15 15 and and CCONJ fbem-28258 15 16 also also ADV fbem-28258 15 17 realizes realize VERB fbem-28258 15 18 the the DET fbem-28258 15 19 co co NOUN fbem-28258 15 20 - - NOUN fbem-28258 15 21 construction construction NOUN fbem-28258 15 22 and and CCONJ fbem-28258 15 23 sharing sharing NOUN fbem-28258 15 24 of of ADP fbem-28258 15 25 tax tax NOUN fbem-28258 15 26 data datum NOUN fbem-28258 15 27 . . PUNCT fbem-28258 16 1 the the DET fbem-28258 16 2 research research NOUN fbem-28258 16 3 on on ADP fbem-28258 16 4 the the DET fbem-28258 16 5 effect effect NOUN fbem-28258 16 6 of of ADP fbem-28258 16 7 tax tax NOUN fbem-28258 16 8 measures measure NOUN fbem-28258 16 9 on on ADP fbem-28258 16 10 corporate corporate ADJ fbem-28258 16 11 behavior behavior NOUN fbem-28258 16 12 could could AUX fbem-28258 16 13 be be AUX fbem-28258 16 14 mainly mainly ADV fbem-28258 16 15 summarized summarize VERB fbem-28258 16 16 as as ADP fbem-28258 16 17 tax tax NOUN fbem-28258 16 18 burden burden NOUN fbem-28258 16 19 and and CCONJ fbem-28258 16 20 corporate corporate ADJ fbem-28258 16 21 governance governance NOUN fbem-28258 16 22 . . PUNCT fbem-28258 17 1 first first ADV fbem-28258 17 2 of of ADP fbem-28258 17 3 all all PRON fbem-28258 17 4 , , PUNCT fbem-28258 17 5 strict strict ADJ fbem-28258 17 6 tax tax NOUN fbem-28258 17 7 measures measure NOUN fbem-28258 17 8 could could AUX fbem-28258 17 9 indeed indeed ADV fbem-28258 17 10 curb curb VERB fbem-28258 17 11 corporate corporate ADJ fbem-28258 17 12 tax tax NOUN fbem-28258 17 13 avoidance avoidance NOUN fbem-28258 17 14 , , PUNCT fbem-28258 17 15 improve improve VERB fbem-28258 17 16 corporate corporate ADJ fbem-28258 17 17 tax tax NOUN fbem-28258 17 18 compliance compliance NOUN fbem-28258 17 19 , , PUNCT fbem-28258 17 20 promote promote VERB fbem-28258 17 21 the the DET fbem-28258 17 22 implementation implementation NOUN fbem-28258 17 23 of of ADP fbem-28258 17 24 preferential preferential ADJ fbem-28258 17 25 tax tax NOUN fbem-28258 17 26 policies policy NOUN fbem-28258 17 27 , , PUNCT fbem-28258 17 28 and and CCONJ fbem-28258 17 29 enable enable VERB fbem-28258 17 30 more more ADJ fbem-28258 17 31 qualified qualified ADJ fbem-28258 17 32 enterprises enterprise NOUN fbem-28258 17 33 to to PART fbem-28258 17 34 reduce reduce VERB fbem-28258 17 35 their their PRON fbem-28258 17 36 tax tax NOUN fbem-28258 17 37 burdens burden NOUN fbem-28258 17 38 [ [ X fbem-28258 17 39 3 3 NUM fbem-28258 17 40 ] ] PUNCT fbem-28258 17 41 . . PUNCT fbem-28258 18 1 second second ADJ fbem-28258 18 2 , , PUNCT fbem-28258 18 3 tax tax NOUN fbem-28258 18 4 collection collection NOUN fbem-28258 18 5 and and CCONJ fbem-28258 18 6 management management NOUN fbem-28258 18 7 effectively effectively ADV fbem-28258 18 8 improve improve VERB fbem-28258 18 9 the the DET fbem-28258 18 10 quality quality NOUN fbem-28258 18 11 of of ADP fbem-28258 18 12 financial financial ADJ fbem-28258 18 13 reports report NOUN fbem-28258 18 14 by by ADP fbem-28258 18 15 increasing increase VERB fbem-28258 18 16 the the DET fbem-28258 18 17 costs cost NOUN fbem-28258 18 18 of of ADP fbem-28258 18 19 earnings earning NOUN fbem-28258 18 20 management management NOUN fbem-28258 18 21 [ [ X fbem-28258 18 22 4 4 NUM fbem-28258 18 23 ] ] PUNCT fbem-28258 18 24 . . PUNCT fbem-28258 19 1 2.2 2.2 NUM fbem-28258 19 2 . . PUNCT fbem-28258 20 1 real real ADJ fbem-28258 20 2 earnings earning NOUN fbem-28258 20 3 management management NOUN fbem-28258 20 4 in in ADP fbem-28258 20 5 watts watts PROPN fbem-28258 20 6 and and CCONJ fbem-28258 20 7 zimmerman zimmerman NOUN fbem-28258 20 8 's 's PART fbem-28258 20 9 study study NOUN fbem-28258 20 10 , , PUNCT fbem-28258 20 11 earnings earning NOUN fbem-28258 20 12 management management NOUN fbem-28258 20 13 is be AUX fbem-28258 20 14 divided divide VERB fbem-28258 20 15 into into ADP fbem-28258 20 16 two two NUM fbem-28258 20 17 categories category NOUN fbem-28258 20 18 . . PUNCT fbem-28258 21 1 accrued accrue VERB fbem-28258 21 2 earnings earning NOUN fbem-28258 21 3 management management NOUN fbem-28258 21 4 refers refer VERB fbem-28258 21 5 to to ADP fbem-28258 21 6 a a DET fbem-28258 21 7 manipulative manipulative ADJ fbem-28258 21 8 behavior behavior NOUN fbem-28258 21 9 of of ADP fbem-28258 21 10 enterprise enterprise NOUN fbem-28258 21 11 management management NOUN fbem-28258 21 12 to to PART fbem-28258 21 13 make make VERB fbem-28258 21 14 accrued accrued ADJ fbem-28258 21 15 earnings earning NOUN fbem-28258 21 16 reach reach VERB fbem-28258 21 17 the the DET fbem-28258 21 18 expected expect VERB fbem-28258 21 19 level level NOUN fbem-28258 21 20 by by ADP fbem-28258 21 21 using use VERB fbem-28258 21 22 accounting accounting NOUN fbem-28258 21 23 means mean NOUN fbem-28258 21 24 such such ADJ fbem-28258 21 25 as as ADP fbem-28258 21 26 professional professional ADJ fbem-28258 21 27 judgment judgment NOUN fbem-28258 21 28 in in ADP fbem-28258 21 29 the the DET fbem-28258 21 30 preparation preparation NOUN fbem-28258 21 31 of of ADP fbem-28258 21 32 financial financial ADJ fbem-28258 21 33 statements statement NOUN fbem-28258 21 34 , , PUNCT fbem-28258 21 35 while while SCONJ fbem-28258 21 36 real real ADJ fbem-28258 21 37 earnings earning NOUN fbem-28258 21 38 management management NOUN fbem-28258 21 39 is be AUX fbem-28258 21 40 the the DET fbem-28258 21 41 process process NOUN fbem-28258 21 42 of of ADP fbem-28258 21 43 planning plan VERB fbem-28258 21 44 real real ADJ fbem-28258 21 45 transaction transaction NOUN fbem-28258 21 46 activities activity NOUN fbem-28258 21 47 to to PART fbem-28258 21 48 manipulate manipulate VERB fbem-28258 21 49 profits profit NOUN fbem-28258 21 50 and and CCONJ fbem-28258 21 51 change change VERB fbem-28258 21 52 the the DET fbem-28258 21 53 results result NOUN fbem-28258 21 54 of of ADP fbem-28258 21 55 financial financial ADJ fbem-28258 21 56 reports report NOUN fbem-28258 21 57 [ [ X fbem-28258 21 58 5 5 NUM fbem-28258 21 59 ] ] PUNCT fbem-28258 21 60 . . PUNCT fbem-28258 22 1 the the DET fbem-28258 22 2 research research NOUN fbem-28258 22 3 on on ADP fbem-28258 22 4 earnings earning NOUN fbem-28258 22 5 management management NOUN fbem-28258 22 6 mainly mainly ADV fbem-28258 22 7 focuses focus VERB fbem-28258 22 8 on on ADP fbem-28258 22 9 the the DET fbem-28258 22 10 following follow VERB fbem-28258 22 11 three three NUM fbem-28258 22 12 aspects aspect NOUN fbem-28258 22 13 : : PUNCT fbem-28258 22 14 first first ADV fbem-28258 22 15 of of ADP fbem-28258 22 16 all all PRON fbem-28258 22 17 , , PUNCT fbem-28258 22 18 it it PRON fbem-28258 22 19 is be AUX fbem-28258 22 20 based base VERB fbem-28258 22 21 on on ADP fbem-28258 22 22 the the DET fbem-28258 22 23 study study NOUN fbem-28258 22 24 of of ADP fbem-28258 22 25 corporate corporate ADJ fbem-28258 22 26 internal internal ADJ fbem-28258 22 27 governance governance NOUN fbem-28258 22 28 mechanism mechanism NOUN fbem-28258 22 29 . . PUNCT fbem-28258 23 1 in in ADP fbem-28258 23 2 order order NOUN fbem-28258 23 3 to to PART fbem-28258 23 4 avoid avoid VERB fbem-28258 23 5 losses loss NOUN fbem-28258 23 6 , , PUNCT fbem-28258 23 7 company company NOUN fbem-28258 23 8 executives executive NOUN fbem-28258 23 9 generally generally ADV fbem-28258 23 10 manipulate manipulate VERB fbem-28258 23 11 real real ADJ fbem-28258 23 12 business business NOUN fbem-28258 23 13 activities activity NOUN fbem-28258 23 14 to to PART fbem-28258 23 15 achieve achieve VERB fbem-28258 23 16 the the DET fbem-28258 23 17 predetermined predetermined ADJ fbem-28258 23 18 earnings earning NOUN fbem-28258 23 19 target target NOUN fbem-28258 23 20 , , PUNCT fbem-28258 23 21 and and CCONJ fbem-28258 23 22 perfect perfect ADJ fbem-28258 23 23 internal internal ADJ fbem-28258 23 24 control control NOUN fbem-28258 23 25 system system NOUN fbem-28258 23 26 , , PUNCT fbem-28258 23 27 equity equity NOUN fbem-28258 23 28 checks check NOUN fbem-28258 23 29 and and CCONJ fbem-28258 23 30 balances balance NOUN fbem-28258 23 31 , , PUNCT fbem-28258 23 32 independent independent ADJ fbem-28258 23 33 director director NOUN fbem-28258 23 34 connection connection NOUN fbem-28258 23 35 , , PUNCT fbem-28258 23 36 etc etc X fbem-28258 23 37 . . X fbem-28258 23 38 , , PUNCT fbem-28258 23 39 can can AUX fbem-28258 23 40 effectively effectively ADV fbem-28258 23 41 prevent prevent VERB fbem-28258 23 42 management management NOUN fbem-28258 23 43 from from ADP fbem-28258 23 44 manipulating manipulate VERB fbem-28258 23 45 profits profit NOUN fbem-28258 23 46 . . PUNCT fbem-28258 24 1 the the DET fbem-28258 24 2 second second NOUN fbem-28258 24 3 is be AUX fbem-28258 24 4 based base VERB fbem-28258 24 5 on on ADP fbem-28258 24 6 the the DET fbem-28258 24 7 study study NOUN fbem-28258 24 8 of of ADP fbem-28258 24 9 external external ADJ fbem-28258 24 10 supervision supervision NOUN fbem-28258 24 11 mechanism mechanism NOUN fbem-28258 24 12 . . PUNCT fbem-28258 25 1 capital capital NOUN fbem-28258 25 2 market market NOUN fbem-28258 25 3 discipline discipline NOUN fbem-28258 25 4 and and CCONJ fbem-28258 25 5 external external ADJ fbem-28258 25 6 audit audit NOUN fbem-28258 25 7 supervision supervision NOUN fbem-28258 25 8 can can AUX fbem-28258 25 9 play play VERB fbem-28258 25 10 a a DET fbem-28258 25 11 role role NOUN fbem-28258 25 12 . . PUNCT fbem-28258 26 1 in in ADP fbem-28258 26 2 addition addition NOUN fbem-28258 26 3 , , PUNCT fbem-28258 26 4 media medium NOUN fbem-28258 26 5 supervision supervision NOUN fbem-28258 26 6 is be AUX fbem-28258 26 7 an an DET fbem-28258 26 8 important important ADJ fbem-28258 26 9 alternative alternative ADJ fbem-28258 26 10 mechanism mechanism NOUN fbem-28258 26 11 to to ADP fbem-28258 26 12 the the DET fbem-28258 26 13 law law NOUN fbem-28258 26 14 restricting restrict VERB fbem-28258 26 15 the the DET fbem-28258 26 16 effective effective ADJ fbem-28258 26 17 earnings earning NOUN fbem-28258 26 18 management management NOUN fbem-28258 26 19 of of ADP fbem-28258 26 20 listed list VERB fbem-28258 26 21 companies company NOUN fbem-28258 26 22 [ [ X fbem-28258 26 23 6 6 NUM fbem-28258 26 24 ] ] PUNCT fbem-28258 26 25 . . PUNCT fbem-28258 27 1 the the DET fbem-28258 27 2 gt_iii gt_iii PROPN fbem-28258 27 3 is be AUX fbem-28258 27 4 based base VERB fbem-28258 27 5 on on ADP fbem-28258 27 6 the the DET fbem-28258 27 7 study study NOUN fbem-28258 27 8 of of ADP fbem-28258 27 9 economic economic ADJ fbem-28258 27 10 consequences consequence NOUN fbem-28258 27 11 . . PUNCT fbem-28258 28 1 improving improve VERB fbem-28258 28 2 the the DET fbem-28258 28 3 quality quality NOUN fbem-28258 28 4 of of ADP fbem-28258 28 5 earnings earning NOUN fbem-28258 28 6 can can AUX fbem-28258 28 7 improve improve VERB fbem-28258 28 8 the the DET fbem-28258 28 9 financing financing NOUN fbem-28258 28 10 efficiency efficiency NOUN fbem-28258 28 11 of of ADP fbem-28258 28 12 the the DET fbem-28258 28 13 company company NOUN fbem-28258 28 14 . . PUNCT fbem-28258 29 1 however however ADV fbem-28258 29 2 , , PUNCT fbem-28258 29 3 although although SCONJ fbem-28258 29 4 the the DET fbem-28258 29 5 earnings earning NOUN fbem-28258 29 6 management management NOUN fbem-28258 29 7 behavior behavior NOUN fbem-28258 29 8 of of ADP fbem-28258 29 9 the the DET fbem-28258 29 10 enterprise enterprise NOUN fbem-28258 29 11 will will AUX fbem-28258 29 12 have have VERB fbem-28258 29 13 a a DET fbem-28258 29 14 positive positive ADJ fbem-28258 29 15 impact impact NOUN fbem-28258 29 16 on on ADP fbem-28258 29 17 the the DET fbem-28258 29 18 term term NOUN fbem-28258 29 19 of of ADP fbem-28258 29 20 debt debt NOUN fbem-28258 29 21 financing financing NOUN fbem-28258 29 22 , , PUNCT fbem-28258 29 23 it it PRON fbem-28258 29 24 will will AUX fbem-28258 29 25 increase increase VERB fbem-28258 29 26 the the DET fbem-28258 29 27 borrowing borrowing NOUN fbem-28258 29 28 risk risk NOUN fbem-28258 29 29 of of ADP fbem-28258 29 30 creditors creditor NOUN fbem-28258 29 31 , , PUNCT fbem-28258 29 32 which which PRON fbem-28258 29 33 is be AUX fbem-28258 29 34 not not PART fbem-28258 29 35 beneficial beneficial ADJ fbem-28258 29 36 to to ADP fbem-28258 29 37 the the DET fbem-28258 29 38 development development NOUN fbem-28258 29 39 of of ADP fbem-28258 29 40 the the DET fbem-28258 29 41 capital capital NOUN fbem-28258 29 42 market market NOUN fbem-28258 29 43 [ [ X fbem-28258 29 44 7 7 NUM fbem-28258 29 45 ] ] PUNCT fbem-28258 29 46 . . PUNCT fbem-28258 30 1 it it PRON fbem-28258 30 2 can can AUX fbem-28258 30 3 be be AUX fbem-28258 30 4 seen see VERB fbem-28258 30 5 from from ADP fbem-28258 30 6 the the DET fbem-28258 30 7 literature literature NOUN fbem-28258 30 8 review review NOUN fbem-28258 30 9 that that SCONJ fbem-28258 30 10 there there PRON fbem-28258 30 11 are be VERB fbem-28258 30 12 few few ADJ fbem-28258 30 13 literatures literature NOUN fbem-28258 30 14 on on ADP fbem-28258 30 15 the the DET fbem-28258 30 16 influence influence NOUN fbem-28258 30 17 of of ADP fbem-28258 30 18 tax tax NOUN fbem-28258 30 19 collection collection NOUN fbem-28258 30 20 and and CCONJ fbem-28258 30 21 administration administration NOUN fbem-28258 30 22 on on ADP fbem-28258 30 23 earnings earning NOUN fbem-28258 30 24 management management NOUN fbem-28258 30 25 behavior behavior NOUN fbem-28258 30 26 of of ADP fbem-28258 30 27 enterprises enterprise NOUN fbem-28258 30 28 from from ADP fbem-28258 30 29 the the DET fbem-28258 30 30 perspective perspective NOUN fbem-28258 30 31 of of ADP fbem-28258 30 32 gt_iii gt_iii PROPN fbem-28258 30 33 . . PUNCT fbem-28258 31 1 this this DET fbem-28258 31 2 paper paper NOUN fbem-28258 31 3 explores explore VERB fbem-28258 31 4 whether whether SCONJ fbem-28258 31 5 the the DET fbem-28258 31 6 gt_iii gt_iii PROPN fbem-28258 31 7 based base VERB fbem-28258 31 8 on on ADP fbem-28258 31 9 big big ADJ fbem-28258 31 10 data datum NOUN fbem-28258 31 11 technology technology NOUN fbem-28258 31 12 can can AUX fbem-28258 31 13 play play VERB fbem-28258 31 14 a a DET fbem-28258 31 15 crucial crucial ADJ fbem-28258 31 16 role role NOUN fbem-28258 31 17 in in ADP fbem-28258 31 18 earnings earning NOUN fbem-28258 31 19 management management NOUN fbem-28258 31 20 and and CCONJ fbem-28258 31 21 governance governance NOUN fbem-28258 31 22 . . PUNCT fbem-28258 32 1 this this PRON fbem-28258 32 2 is be AUX fbem-28258 32 3 of of ADP fbem-28258 32 4 great great ADJ fbem-28258 32 5 significance significance NOUN fbem-28258 32 6 for for ADP fbem-28258 32 7 discussing discuss VERB fbem-28258 32 8 the the DET fbem-28258 32 9 role role NOUN fbem-28258 32 10 of of ADP fbem-28258 32 11 big big ADJ fbem-28258 32 12 data datum NOUN fbem-28258 32 13 technology technology NOUN fbem-28258 32 14 in in ADP fbem-28258 32 15 the the DET fbem-28258 32 16 field field NOUN fbem-28258 32 17 of of ADP fbem-28258 32 18 tax tax NOUN fbem-28258 32 19 on on ADP fbem-28258 32 20 the the DET fbem-28258 32 21 internal internal ADJ fbem-28258 32 22 governance governance NOUN fbem-28258 32 23 of of ADP fbem-28258 32 24 companies company NOUN fbem-28258 32 25 . . PUNCT fbem-28258 33 1 what what PRON fbem-28258 33 2 is be AUX fbem-28258 33 3 more more ADV fbem-28258 33 4 noteworthy noteworthy ADJ fbem-28258 33 5 is be AUX fbem-28258 33 6 that that SCONJ fbem-28258 33 7 digital digital ADJ fbem-28258 33 8 development development NOUN fbem-28258 33 9 is be AUX fbem-28258 33 10 a a DET fbem-28258 33 11 deepening deepening NOUN fbem-28258 33 12 process process NOUN fbem-28258 33 13 . . PUNCT fbem-28258 34 1 therefore therefore ADV fbem-28258 34 2 , , PUNCT fbem-28258 34 3 the the DET fbem-28258 34 4 intervention intervention NOUN fbem-28258 34 5 of of ADP fbem-28258 34 6 the the DET fbem-28258 34 7 digital digital ADJ fbem-28258 34 8 economy economy NOUN fbem-28258 34 9 in in ADP fbem-28258 34 10 the the DET fbem-28258 34 11 tax tax NOUN fbem-28258 34 12 system system NOUN fbem-28258 34 13 will will AUX fbem-28258 34 14 inevitably inevitably ADV fbem-28258 34 15 play play VERB fbem-28258 34 16 an an DET fbem-28258 34 17 important important ADJ fbem-28258 34 18 role role NOUN fbem-28258 34 19 in in ADP fbem-28258 34 20 the the DET fbem-28258 34 21 internal internal ADJ fbem-28258 34 22 governance governance NOUN fbem-28258 34 23 155 155 NUM fbem-28258 34 24 of of ADP fbem-28258 34 25 enterprises enterprise NOUN fbem-28258 34 26 , , PUNCT fbem-28258 34 27 decision decision NOUN fbem-28258 34 28 - - PUNCT fbem-28258 34 29 making make VERB fbem-28258 34 30 behaviors behavior NOUN fbem-28258 34 31 and and CCONJ fbem-28258 34 32 even even ADV fbem-28258 34 33 the the DET fbem-28258 34 34 overall overall ADJ fbem-28258 34 35 market market NOUN fbem-28258 34 36 environment environment NOUN fbem-28258 34 37 . . PUNCT fbem-28258 35 1 the the DET fbem-28258 35 2 digital digital ADJ fbem-28258 35 3 economy economy NOUN fbem-28258 35 4 also also ADV fbem-28258 35 5 monitors monitor VERB fbem-28258 35 6 and and CCONJ fbem-28258 35 7 urges urge VERB fbem-28258 35 8 management management NOUN fbem-28258 35 9 behavior behavior NOUN fbem-28258 35 10 from from ADP fbem-28258 35 11 a a DET fbem-28258 35 12 more more ADV fbem-28258 35 13 active active ADJ fbem-28258 35 14 and and CCONJ fbem-28258 35 15 transparent transparent ADJ fbem-28258 35 16 perspective perspective NOUN fbem-28258 35 17 . . PUNCT fbem-28258 36 1 3 3 X fbem-28258 36 2 . . X fbem-28258 36 3 method method PROPN fbem-28258 36 4 3.1 3.1 NUM fbem-28258 36 5 . . PUNCT fbem-28258 37 1 theoretical theoretical ADJ fbem-28258 37 2 analysis analysis NOUN fbem-28258 37 3 and and CCONJ fbem-28258 37 4 research research NOUN fbem-28258 37 5 hypothesis hypothesis NOUN fbem-28258 37 6 from from ADP fbem-28258 37 7 the the DET fbem-28258 37 8 perspective perspective NOUN fbem-28258 37 9 of of ADP fbem-28258 37 10 information information NOUN fbem-28258 37 11 asymmetry asymmetry NOUN fbem-28258 37 12 , , PUNCT fbem-28258 37 13 tax tax NOUN fbem-28258 37 14 avoidance avoidance NOUN fbem-28258 37 15 activities activity NOUN fbem-28258 37 16 are be AUX fbem-28258 37 17 usually usually ADV fbem-28258 37 18 highly highly ADV fbem-28258 37 19 secretive secretive ADJ fbem-28258 37 20 and and CCONJ fbem-28258 37 21 professional professional ADJ fbem-28258 37 22 , , PUNCT fbem-28258 37 23 which which PRON fbem-28258 37 24 makes make VERB fbem-28258 37 25 it it PRON fbem-28258 37 26 difficult difficult ADJ fbem-28258 37 27 for for SCONJ fbem-28258 37 28 the the DET fbem-28258 37 29 outside outside ADJ fbem-28258 37 30 world world NOUN fbem-28258 37 31 to to PART fbem-28258 37 32 accurately accurately ADV fbem-28258 37 33 understand understand VERB fbem-28258 37 34 the the DET fbem-28258 37 35 real real ADJ fbem-28258 37 36 tax tax NOUN fbem-28258 37 37 avoidance avoidance NOUN fbem-28258 37 38 situation situation NOUN fbem-28258 37 39 of of ADP fbem-28258 37 40 enterprises enterprise NOUN fbem-28258 37 41 . . PUNCT fbem-28258 38 1 then then ADV fbem-28258 38 2 the the DET fbem-28258 38 3 tax tax NOUN fbem-28258 38 4 collection collection NOUN fbem-28258 38 5 and and CCONJ fbem-28258 38 6 administration administration NOUN fbem-28258 38 7 system system NOUN fbem-28258 38 8 based base VERB fbem-28258 38 9 on on ADP fbem-28258 38 10 information information NOUN fbem-28258 38 11 technology technology NOUN fbem-28258 38 12 construction construction NOUN fbem-28258 38 13 , , PUNCT fbem-28258 38 14 that that ADV fbem-28258 38 15 is is ADV fbem-28258 38 16 , , PUNCT fbem-28258 38 17 the the DET fbem-28258 38 18 gt_iii gt_iii PROPN fbem-28258 38 19 , , PUNCT fbem-28258 38 20 aims aim VERB fbem-28258 38 21 to to PART fbem-28258 38 22 enhance enhance VERB fbem-28258 38 23 the the DET fbem-28258 38 24 tax tax NOUN fbem-28258 38 25 department department NOUN fbem-28258 38 26 's 's PART fbem-28258 38 27 tax tax NOUN fbem-28258 38 28 source source NOUN fbem-28258 38 29 monitoring monitoring NOUN fbem-28258 38 30 ability ability NOUN fbem-28258 38 31 , , PUNCT fbem-28258 38 32 improve improve VERB fbem-28258 38 33 the the DET fbem-28258 38 34 consistency consistency NOUN fbem-28258 38 35 and and CCONJ fbem-28258 38 36 accuracy accuracy NOUN fbem-28258 38 37 of of ADP fbem-28258 38 38 data datum NOUN fbem-28258 38 39 , , PUNCT fbem-28258 38 40 and and CCONJ fbem-28258 38 41 reduce reduce VERB fbem-28258 38 42 the the DET fbem-28258 38 43 degree degree NOUN fbem-28258 38 44 of of ADP fbem-28258 38 45 information information NOUN fbem-28258 38 46 asymmetry asymmetry NOUN fbem-28258 38 47 . . PUNCT fbem-28258 39 1 this this PRON fbem-28258 39 2 makes make VERB fbem-28258 39 3 it it PRON fbem-28258 39 4 urgent urgent ADJ fbem-28258 39 5 for for SCONJ fbem-28258 39 6 taxpayers taxpayer NOUN fbem-28258 39 7 to to PART fbem-28258 39 8 change change VERB fbem-28258 39 9 earnings earning NOUN fbem-28258 39 10 manipulation manipulation NOUN fbem-28258 39 11 methods method NOUN fbem-28258 39 12 , , PUNCT fbem-28258 39 13 increase increase VERB fbem-28258 39 14 tax tax NOUN fbem-28258 39 15 avoidance avoidance NOUN fbem-28258 39 16 , , PUNCT fbem-28258 39 17 and and CCONJ fbem-28258 39 18 then then ADV fbem-28258 39 19 reduce reduce VERB fbem-28258 39 20 the the DET fbem-28258 39 21 real real ADJ fbem-28258 39 22 earnings earning NOUN fbem-28258 39 23 management management NOUN fbem-28258 39 24 behavior behavior NOUN fbem-28258 39 25 . . PUNCT fbem-28258 40 1 therefore therefore ADV fbem-28258 40 2 , , PUNCT fbem-28258 40 3 the the DET fbem-28258 40 4 following follow VERB fbem-28258 40 5 hypothesis hypothesis NOUN fbem-28258 40 6 is be AUX fbem-28258 40 7 proposed propose VERB fbem-28258 40 8 : : PUNCT fbem-28258 40 9 ( ( PUNCT fbem-28258 40 10 1 1 X fbem-28258 40 11 ) ) PUNCT fbem-28258 40 12 the the DET fbem-28258 40 13 digitization digitization NOUN fbem-28258 40 14 of of ADP fbem-28258 40 15 tax tax NOUN fbem-28258 40 16 collection collection NOUN fbem-28258 40 17 and and CCONJ fbem-28258 40 18 administration administration NOUN fbem-28258 40 19 reduces reduce VERB fbem-28258 40 20 the the DET fbem-28258 40 21 real real ADJ fbem-28258 40 22 earnings earning NOUN fbem-28258 40 23 management management NOUN fbem-28258 40 24 of of ADP fbem-28258 40 25 companies company NOUN fbem-28258 40 26 ; ; PUNCT fbem-28258 40 27 ( ( PUNCT fbem-28258 40 28 2 2 X fbem-28258 40 29 ) ) PUNCT fbem-28258 40 30 corporate corporate ADJ fbem-28258 40 31 tax tax NOUN fbem-28258 40 32 avoidance avoidance NOUN fbem-28258 40 33 plays play VERB fbem-28258 40 34 an an DET fbem-28258 40 35 intermediary intermediary ADJ fbem-28258 40 36 effect effect NOUN fbem-28258 40 37 , , PUNCT fbem-28258 40 38 which which PRON fbem-28258 40 39 means mean VERB fbem-28258 40 40 that that SCONJ fbem-28258 40 41 the the DET fbem-28258 40 42 digitization digitization NOUN fbem-28258 40 43 of of ADP fbem-28258 40 44 tax tax NOUN fbem-28258 40 45 collection collection NOUN fbem-28258 40 46 and and CCONJ fbem-28258 40 47 management management NOUN fbem-28258 40 48 improves improve VERB fbem-28258 40 49 corporate corporate ADJ fbem-28258 40 50 tax tax NOUN fbem-28258 40 51 avoidance avoidance NOUN fbem-28258 40 52 , , PUNCT fbem-28258 40 53 and and CCONJ fbem-28258 40 54 then then ADV fbem-28258 40 55 inhibits inhibit VERB fbem-28258 40 56 the the DET fbem-28258 40 57 real real ADJ fbem-28258 40 58 earnings earning NOUN fbem-28258 40 59 management management NOUN fbem-28258 40 60 degree degree NOUN fbem-28258 40 61 of of ADP fbem-28258 40 62 enterprises enterprise NOUN fbem-28258 40 63 . . PUNCT fbem-28258 41 1 3.2 3.2 NUM fbem-28258 41 2 . . PUNCT fbem-28258 42 1 research research NOUN fbem-28258 42 2 design design NOUN fbem-28258 42 3 this this DET fbem-28258 42 4 paper paper NOUN fbem-28258 42 5 takes take VERB fbem-28258 42 6 a a DET fbem-28258 42 7 - - PUNCT fbem-28258 42 8 share share NOUN fbem-28258 42 9 listed list VERB fbem-28258 42 10 companies company NOUN fbem-28258 42 11 from from ADP fbem-28258 42 12 2010 2010 NUM fbem-28258 42 13 to to ADP fbem-28258 42 14 2015 2015 NUM fbem-28258 42 15 as as ADP fbem-28258 42 16 the the DET fbem-28258 42 17 research research NOUN fbem-28258 42 18 object object NOUN fbem-28258 42 19 . . PUNCT fbem-28258 43 1 all all DET fbem-28258 43 2 sample sample NOUN fbem-28258 43 3 data datum NOUN fbem-28258 43 4 are be AUX fbem-28258 43 5 from from ADP fbem-28258 43 6 csmar csmar PROPN fbem-28258 43 7 database database NOUN fbem-28258 43 8 . . PUNCT fbem-28258 44 1 in in ADP fbem-28258 44 2 order order NOUN fbem-28258 44 3 to to PART fbem-28258 44 4 ensure ensure VERB fbem-28258 44 5 the the DET fbem-28258 44 6 validity validity NOUN fbem-28258 44 7 of of ADP fbem-28258 44 8 the the DET fbem-28258 44 9 data datum NOUN fbem-28258 44 10 , , PUNCT fbem-28258 44 11 not not PART fbem-28258 44 12 only only ADV fbem-28258 44 13 st st PROPN fbem-28258 44 14 company company NOUN fbem-28258 44 15 and and CCONJ fbem-28258 44 16 specific specific ADJ fbem-28258 44 17 financial financial ADJ fbem-28258 44 18 and and CCONJ fbem-28258 44 19 insurance insurance NOUN fbem-28258 44 20 industry industry NOUN fbem-28258 44 21 samples sample NOUN fbem-28258 44 22 were be AUX fbem-28258 44 23 excluded exclude VERB fbem-28258 44 24 , , PUNCT fbem-28258 44 25 but but CCONJ fbem-28258 44 26 also also ADV fbem-28258 44 27 the the DET fbem-28258 44 28 observed observed ADJ fbem-28258 44 29 values value NOUN fbem-28258 44 30 of of ADP fbem-28258 44 31 enterprises enterprise NOUN fbem-28258 44 32 with with ADP fbem-28258 44 33 missing miss VERB fbem-28258 44 34 key key ADJ fbem-28258 44 35 variables variable NOUN fbem-28258 44 36 were be AUX fbem-28258 44 37 eliminated eliminate VERB fbem-28258 44 38 , , PUNCT fbem-28258 44 39 and and CCONJ fbem-28258 44 40 the the DET fbem-28258 44 41 continuous continuous ADJ fbem-28258 44 42 variables variable NOUN fbem-28258 44 43 were be AUX fbem-28258 44 44 winsorized winsorize VERB fbem-28258 44 45 at at ADP fbem-28258 44 46 the the DET fbem-28258 44 47 level level NOUN fbem-28258 44 48 of of ADP fbem-28258 44 49 1 1 NUM fbem-28258 44 50 % % NOUN fbem-28258 44 51 and and CCONJ fbem-28258 44 52 99 99 NUM fbem-28258 44 53 % % NOUN fbem-28258 44 54 . . PUNCT fbem-28258 45 1 through through ADP fbem-28258 45 2 screening screening NOUN fbem-28258 45 3 , , PUNCT fbem-28258 45 4 6984 6984 NUM fbem-28258 45 5 sample sample NOUN fbem-28258 45 6 observations observation NOUN fbem-28258 45 7 were be AUX fbem-28258 45 8 obtained obtain VERB fbem-28258 45 9 in in ADP fbem-28258 45 10 this this DET fbem-28258 45 11 paper paper NOUN fbem-28258 45 12 . . PUNCT fbem-28258 46 1 in in ADP fbem-28258 46 2 this this DET fbem-28258 46 3 paper paper NOUN fbem-28258 46 4 , , PUNCT fbem-28258 46 5 the the DET fbem-28258 46 6 first first ADJ fbem-28258 46 7 batch batch NOUN fbem-28258 46 8 of of ADP fbem-28258 46 9 listed list VERB fbem-28258 46 10 companies company NOUN fbem-28258 46 11 selected select VERB fbem-28258 46 12 for for ADP fbem-28258 46 13 the the DET fbem-28258 46 14 gt_iii gt_iii PROPN fbem-28258 46 15 pilot pilot NOUN fbem-28258 46 16 are be AUX fbem-28258 46 17 selected select VERB fbem-28258 46 18 as as ADP fbem-28258 46 19 the the DET fbem-28258 46 20 processing processing NOUN fbem-28258 46 21 group group NOUN fbem-28258 46 22 , , PUNCT fbem-28258 46 23 the the DET fbem-28258 46 24 last last ADJ fbem-28258 46 25 batch batch NOUN fbem-28258 46 26 of of ADP fbem-28258 46 27 listed list VERB fbem-28258 46 28 companies company NOUN fbem-28258 46 29 selected select VERB fbem-28258 46 30 as as ADP fbem-28258 46 31 the the DET fbem-28258 46 32 control control NOUN fbem-28258 46 33 group group NOUN fbem-28258 46 34 , , PUNCT fbem-28258 46 35 and and CCONJ fbem-28258 46 36 the the DET fbem-28258 46 37 data datum NOUN fbem-28258 46 38 of of ADP fbem-28258 46 39 the the DET fbem-28258 46 40 processing processing NOUN fbem-28258 46 41 group group NOUN fbem-28258 46 42 and and CCONJ fbem-28258 46 43 the the DET fbem-28258 46 44 control control NOUN fbem-28258 46 45 group group NOUN fbem-28258 46 46 from from ADP fbem-28258 46 47 2010 2010 NUM fbem-28258 46 48 to to ADP fbem-28258 46 49 2015 2015 NUM fbem-28258 46 50 are be AUX fbem-28258 46 51 used use VERB fbem-28258 46 52 as as ADP fbem-28258 46 53 samples sample NOUN fbem-28258 46 54 to to PART fbem-28258 46 55 build build VERB fbem-28258 46 56 the the DET fbem-28258 46 57 following follow VERB fbem-28258 46 58 difference difference NOUN fbem-28258 46 59 - - PUNCT fbem-28258 46 60 in in ADP fbem-28258 46 61 - - PUNCT fbem-28258 46 62 differences difference NOUN fbem-28258 46 63 model model NOUN fbem-28258 46 64 . . PUNCT fbem-28258 47 1 π‘’π‘š π‘’π‘š ADP fbem-28258 47 2 = = PROPN fbem-28258 47 3 𝛼0 𝛼0 PROPN fbem-28258 47 4 + + CCONJ fbem-28258 47 5 𝛼1π‘ƒπ‘™π‘Žπ‘π‘’ 𝛼1π‘ƒπ‘™π‘Žπ‘π‘’ PROPN fbem-28258 47 6 Γ— Γ— PROPN fbem-28258 47 7 π‘ƒπ‘œπ‘ π‘‘ π‘ƒπ‘œπ‘ π‘‘ PROPN fbem-28258 47 8 + + CCONJ fbem-28258 47 9 βˆ‘ βˆ‘ PUNCT fbem-28258 47 10 π›Όπ‘˜πΆπ‘œπ‘›π‘‘π‘Ÿπ‘œπ‘™ π›Όπ‘˜πΆπ‘œπ‘›π‘‘π‘Ÿπ‘œπ‘™ PROPN fbem-28258 47 11 + + CCONJ fbem-28258 47 12 πœ€ πœ€ X fbem-28258 47 13 ( ( PUNCT fbem-28258 47 14 1 1 NUM fbem-28258 47 15 ) ) PUNCT fbem-28258 47 16 explained explain VERB fbem-28258 47 17 variable variable NOUN fbem-28258 47 18 : : PUNCT fbem-28258 47 19 real real ADJ fbem-28258 47 20 earnings earning NOUN fbem-28258 47 21 management management NOUN fbem-28258 47 22 ( ( PUNCT fbem-28258 47 23 em em PRON fbem-28258 47 24 ) ) PUNCT fbem-28258 47 25 . . PUNCT fbem-28258 48 1 based base VERB fbem-28258 48 2 on on ADP fbem-28258 48 3 roychowdhury roychowdhury NOUN fbem-28258 48 4 's 's PART fbem-28258 48 5 research research NOUN fbem-28258 48 6 , , PUNCT fbem-28258 48 7 this this DET fbem-28258 48 8 paper paper NOUN fbem-28258 48 9 builds build VERB fbem-28258 48 10 a a DET fbem-28258 48 11 model model NOUN fbem-28258 48 12 from from ADP fbem-28258 48 13 three three NUM fbem-28258 48 14 aspects aspect NOUN fbem-28258 48 15 : : PUNCT fbem-28258 48 16 sales sale NOUN fbem-28258 48 17 manipulation manipulation NOUN fbem-28258 48 18 , , PUNCT fbem-28258 48 19 discretionary discretionary ADJ fbem-28258 48 20 expense expense NOUN fbem-28258 48 21 manipulation manipulation NOUN fbem-28258 48 22 and and CCONJ fbem-28258 48 23 production production NOUN fbem-28258 48 24 manipulation manipulation NOUN fbem-28258 48 25 [ [ X fbem-28258 48 26 8 8 NUM fbem-28258 48 27 ] ] PUNCT fbem-28258 48 28 . . PUNCT fbem-28258 49 1 the the DET fbem-28258 49 2 specific specific ADJ fbem-28258 49 3 formula formula NOUN fbem-28258 49 4 is be AUX fbem-28258 49 5 as as SCONJ fbem-28258 49 6 follows follow VERB fbem-28258 49 7 . . PUNCT fbem-28258 50 1 ti ti NOUN fbem-28258 50 2 ti ti NOUN fbem-28258 50 3 ti ti NOUN fbem-28258 50 4 ti ti NOUN fbem-28258 50 5 ti ti X fbem-28258 50 6 titi titi PROPN fbem-28258 50 7 ti ti PROPN fbem-28258 50 8 a a DET fbem-28258 50 9 rev rev X fbem-28258 50 10 a a DET fbem-28258 50 11 rev rev PROPN fbem-28258 50 12 aa aa PROPN fbem-28258 50 13 cfo cfo PROPN fbem-28258 50 14 , , PUNCT fbem-28258 50 15 1 1 NUM fbem-28258 50 16 , , PUNCT fbem-28258 50 17 , , PUNCT fbem-28258 50 18 3 3 NUM fbem-28258 50 19 1 1 NUM fbem-28258 50 20 , , PUNCT fbem-28258 50 21 , , PUNCT fbem-28258 50 22 2 2 NUM fbem-28258 50 23 1 1 NUM fbem-28258 50 24 , , PUNCT fbem-28258 50 25 10 10 NUM fbem-28258 50 26 1 1 NUM fbem-28258 50 27 , , PUNCT fbem-28258 50 28 , , PUNCT fbem-28258 50 29 1 1 NUM fbem-28258 50 30 ο₯ ο₯ NOUN fbem-28258 50 31 + + NUM fbem-28258 50 32   X fbem-28258 51 1 + + ADJ fbem-28258 51 2 + + ADJ fbem-28258 51 3 + + ADJ fbem-28258 51 4 = = ADJ fbem-28258 51 5 βˆ’βˆ’βˆ’βˆ’ βˆ’βˆ’βˆ’βˆ’ X fbem-28258 51 6 ( ( PUNCT fbem-28258 51 7 2 2 NUM fbem-28258 51 8 ) ) PUNCT fbem-28258 51 9 ti ti NOUN fbem-28258 51 10 ti ti NOUN fbem-28258 51 11 ti ti NOUN fbem-28258 51 12 ti ti NOUN fbem-28258 51 13 ti ti NOUN fbem-28258 51 14 ti ti NOUN fbem-28258 51 15 ti ti X fbem-28258 51 16 titi titi PROPN fbem-28258 51 17 ti ti PROPN fbem-28258 51 18 a a DET fbem-28258 51 19 rev rev X fbem-28258 51 20 a a DET fbem-28258 51 21 rev rev PROPN fbem-28258 51 22 a a DET fbem-28258 51 23 rev rev PROPN fbem-28258 51 24 aa aa PROPN fbem-28258 51 25 prod prod NOUN fbem-28258 51 26 , , PUNCT fbem-28258 51 27 1 1 NUM fbem-28258 51 28 , , PUNCT fbem-28258 51 29 1 1 NUM fbem-28258 51 30 , , PUNCT fbem-28258 51 31 4 4 NUM fbem-28258 51 32 1 1 NUM fbem-28258 51 33 , , PUNCT fbem-28258 51 34 , , PUNCT fbem-28258 51 35 3 3 NUM fbem-28258 51 36 1 1 NUM fbem-28258 51 37 , , PUNCT fbem-28258 51 38 , , PUNCT fbem-28258 51 39 2 2 NUM fbem-28258 51 40 1 1 NUM fbem-28258 51 41 , , PUNCT fbem-28258 51 42 10 10 NUM fbem-28258 51 43 1 1 NUM fbem-28258 51 44 , , PUNCT fbem-28258 51 45 , , PUNCT fbem-28258 51 46 1 1 NUM fbem-28258 51 47 ο₯ ο₯ NOUN fbem-28258 51 48 + + NUM fbem-28258 51 49   X fbem-28258 51 50 + + X fbem-28258 51 51   X fbem-28258 52 1 + + ADJ fbem-28258 52 2 + + ADJ fbem-28258 52 3 + + NOUN fbem-28258 52 4 = = NOUN fbem-28258 52 5 βˆ’ βˆ’ NOUN fbem-28258 52 6 βˆ’ βˆ’ PROPN fbem-28258 52 7 βˆ’βˆ’βˆ’βˆ’ βˆ’βˆ’βˆ’βˆ’ X fbem-28258 52 8 ( ( PUNCT fbem-28258 52 9 3 3 NUM fbem-28258 52 10 ) ) PUNCT fbem-28258 52 11 ti ti NOUN fbem-28258 52 12 ti ti NOUN fbem-28258 52 13 ti ti X fbem-28258 52 14 titi titi PROPN fbem-28258 52 15 ti ti PROPN fbem-28258 52 16 a a DET fbem-28258 52 17 rev rev PROPN fbem-28258 52 18 aa aa PROPN fbem-28258 52 19 disexp disexp NOUN fbem-28258 52 20 , , PUNCT fbem-28258 52 21 1 1 NUM fbem-28258 52 22 , , PUNCT fbem-28258 52 23 1 1 NUM fbem-28258 52 24 , , PUNCT fbem-28258 52 25 2 2 NUM fbem-28258 52 26 1 1 NUM fbem-28258 52 27 , , PUNCT fbem-28258 52 28 10 10 NUM fbem-28258 52 29 1 1 NUM fbem-28258 52 30 , , PUNCT fbem-28258 52 31 , , PUNCT fbem-28258 52 32 1 1 NUM fbem-28258 52 33 ο₯ ο₯ NOUN fbem-28258 52 34 + + PROPN fbem-28258 52 35 + + ADJ fbem-28258 52 36 + + NOUN fbem-28258 52 37 = = SYM fbem-28258 52 38 βˆ’ βˆ’ NOUN fbem-28258 53 1 βˆ’ βˆ’ PROPN fbem-28258 53 2 βˆ’βˆ’ βˆ’βˆ’ NOUN fbem-28258 53 3 ( ( PUNCT fbem-28258 53 4 4 4 NUM fbem-28258 53 5 ) ) PUNCT fbem-28258 53 6 titicfoti titicfoti PROPN fbem-28258 53 7 disexpaprodaatrem disexpaprodaatrem VERB fbem-28258 53 8 ti ti NOUN fbem-28258 53 9 , , PUNCT fbem-28258 53 10 , , PUNCT fbem-28258 53 11 , , PUNCT fbem-28258 53 12 _ _ X fbem-28258 53 13 ) ) PUNCT fbem-28258 53 14 1(_)1 1(_)1 NUM fbem-28258 53 15 ( ( PUNCT fbem-28258 53 16 , , PUNCT fbem-28258 53 17 βˆ’++βˆ’= βˆ’++βˆ’= X fbem-28258 53 18 ( ( PUNCT fbem-28258 53 19 5 5 NUM fbem-28258 53 20 ) ) PUNCT fbem-28258 53 21 where where SCONJ fbem-28258 53 22 , , PUNCT fbem-28258 53 23 𝑅𝐸𝑉𝑖,𝑑 𝑅𝐸𝑉𝑖,𝑑 ADJ fbem-28258 53 24 is be AUX fbem-28258 53 25 the the DET fbem-28258 53 26 operating operate VERB fbem-28258 53 27 income income NOUN fbem-28258 53 28 of of ADP fbem-28258 53 29 company company NOUN fbem-28258 53 30 i i PRON fbem-28258 53 31 in in ADP fbem-28258 53 32 year year NOUN fbem-28258 53 33 t. t. PROPN fbem-28258 53 34 according accord VERB fbem-28258 53 35 to to ADP fbem-28258 53 36 the the DET fbem-28258 53 37 formula formula NOUN fbem-28258 53 38 calculation calculation NOUN fbem-28258 53 39 , , PUNCT fbem-28258 53 40 the the DET fbem-28258 53 41 regression regression NOUN fbem-28258 53 42 residual residual ADJ fbem-28258 53 43 of of ADP fbem-28258 53 44 each each DET fbem-28258 53 45 formula formula NOUN fbem-28258 53 46 is be AUX fbem-28258 53 47 obtained obtain VERB fbem-28258 53 48 , , PUNCT fbem-28258 53 49 and and CCONJ fbem-28258 53 50 then then ADV fbem-28258 53 51 the the DET fbem-28258 53 52 comprehensive comprehensive ADJ fbem-28258 53 53 value value NOUN fbem-28258 53 54 calculated calculate VERB fbem-28258 53 55 according accord VERB fbem-28258 53 56 to to ADP fbem-28258 53 57 the the DET fbem-28258 53 58 ( ( PUNCT fbem-28258 53 59 5 5 NUM fbem-28258 53 60 ) ) PUNCT fbem-28258 53 61 reflects reflect VERB fbem-28258 53 62 the the DET fbem-28258 53 63 real real ADJ fbem-28258 53 64 earnings earning NOUN fbem-28258 53 65 management management NOUN fbem-28258 53 66 degree degree NOUN fbem-28258 53 67 of of ADP fbem-28258 53 68 listed list VERB fbem-28258 53 69 companies company NOUN fbem-28258 53 70 . . PUNCT fbem-28258 54 1 explanatory explanatory ADJ fbem-28258 54 2 variable variable NOUN fbem-28258 54 3 : : PUNCT fbem-28258 54 4 the the DET fbem-28258 54 5 first first ADJ fbem-28258 54 6 batch batch NOUN fbem-28258 54 7 of of ADP fbem-28258 54 8 pilot pilot NOUN fbem-28258 54 9 enterprises enterprise NOUN fbem-28258 54 10 ( ( PUNCT fbem-28258 54 11 place place NOUN fbem-28258 54 12 ) ) PUNCT fbem-28258 54 13 , , PUNCT fbem-28258 54 14 if if SCONJ fbem-28258 54 15 the the DET fbem-28258 54 16 company company NOUN fbem-28258 54 17 is be AUX fbem-28258 54 18 located locate VERB fbem-28258 54 19 in in ADP fbem-28258 54 20 chongqing chongqing PROPN fbem-28258 54 21 , , PUNCT fbem-28258 54 22 shandong shandong PROPN fbem-28258 54 23 , , PUNCT fbem-28258 54 24 shanxi shanxi PROPN fbem-28258 54 25 , , PUNCT fbem-28258 54 26 place place NOUN fbem-28258 54 27 value value NOUN fbem-28258 54 28 is be AUX fbem-28258 54 29 1 1 NUM fbem-28258 54 30 ; ; PUNCT fbem-28258 54 31 in in ADP fbem-28258 54 32 16 16 NUM fbem-28258 54 33 provinces province NOUN fbem-28258 54 34 and and CCONJ fbem-28258 54 35 cities city NOUN fbem-28258 54 36 such such ADJ fbem-28258 54 37 as as ADP fbem-28258 54 38 liaoning liaoning NOUN fbem-28258 54 39 , , PUNCT fbem-28258 54 40 the the DET fbem-28258 54 41 value value NOUN fbem-28258 54 42 of of ADP fbem-28258 54 43 place place NOUN fbem-28258 54 44 is be AUX fbem-28258 54 45 0 0 NUM fbem-28258 54 46 . . PUNCT fbem-28258 55 1 the the DET fbem-28258 55 2 value value NOUN fbem-28258 55 3 of of ADP fbem-28258 55 4 the the DET fbem-28258 55 5 pilot pilot NOUN fbem-28258 55 6 start start VERB fbem-28258 55 7 time time NOUN fbem-28258 55 8 ( ( PUNCT fbem-28258 55 9 post post NOUN fbem-28258 55 10 ) ) PUNCT fbem-28258 55 11 is be AUX fbem-28258 55 12 1 1 NUM fbem-28258 55 13 after after ADP fbem-28258 55 14 the the DET fbem-28258 55 15 gt_iii gt_iii PROPN fbem-28258 55 16 pilot pilot NOUN fbem-28258 55 17 ( ( PUNCT fbem-28258 55 18 2013 2013 NUM fbem-28258 55 19 - - SYM fbem-28258 55 20 2015 2015 NUM fbem-28258 55 21 ) ) PUNCT fbem-28258 55 22 and and CCONJ fbem-28258 55 23 0 0 NUM fbem-28258 55 24 ( ( PUNCT fbem-28258 55 25 2010 2010 NUM fbem-28258 55 26 - - SYM fbem-28258 55 27 2012 2012 NUM fbem-28258 55 28 ) ) PUNCT fbem-28258 55 29 . . PUNCT fbem-28258 56 1 mediating mediate VERB fbem-28258 56 2 variable variable NOUN fbem-28258 56 3 : : PUNCT fbem-28258 56 4 tax tax NOUN fbem-28258 56 5 avoidance avoidance NOUN fbem-28258 56 6 degree degree NOUN fbem-28258 56 7 ( ( PUNCT fbem-28258 56 8 d_tax d_tax NOUN fbem-28258 56 9 ) ) PUNCT fbem-28258 56 10 , , PUNCT fbem-28258 56 11 based base VERB fbem-28258 56 12 on on ADP fbem-28258 56 13 liu liu PROPN fbem-28258 56 14 xing xing PROPN fbem-28258 56 15 's 's PART fbem-28258 56 16 research[9 research[9 PROPN fbem-28258 56 17 ] ] PUNCT fbem-28258 56 18 , , PUNCT fbem-28258 56 19 the the DET fbem-28258 56 20 calculation calculation NOUN fbem-28258 56 21 formula formula NOUN fbem-28258 56 22 is be AUX fbem-28258 56 23 as as SCONJ fbem-28258 56 24 follows follow VERB fbem-28258 56 25 . . PUNCT fbem-28258 57 1 𝐷_π‘‘π‘Žπ‘₯ 𝐷_π‘‘π‘Žπ‘₯ VERB fbem-28258 58 1 = = SYM fbem-28258 58 2 π‘π‘Ÿπ‘Žπ‘‘π‘’ π‘π‘Ÿπ‘Žπ‘‘π‘’ NOUN fbem-28258 58 3 βˆ’ βˆ’ NOUN fbem-28258 58 4 πΈπ‘Ÿπ‘Žπ‘‘π‘’ πΈπ‘Ÿπ‘Žπ‘‘π‘’ PROPN fbem-28258 58 5 ( ( PUNCT fbem-28258 58 6 6 6 NUM fbem-28258 58 7 ) ) PUNCT fbem-28258 58 8 where where SCONJ fbem-28258 58 9 , , PUNCT fbem-28258 58 10 nrate nrate NOUN fbem-28258 58 11 represents represent VERB fbem-28258 58 12 the the DET fbem-28258 58 13 nominal nominal ADJ fbem-28258 58 14 income income NOUN fbem-28258 58 15 tax tax NOUN fbem-28258 58 16 rate rate NOUN fbem-28258 58 17 and and CCONJ fbem-28258 58 18 erate erate NOUN fbem-28258 58 19 represents represent VERB fbem-28258 58 20 the the DET fbem-28258 58 21 effective effective ADJ fbem-28258 58 22 income income NOUN fbem-28258 58 23 tax tax NOUN fbem-28258 58 24 rate rate NOUN fbem-28258 58 25 . . PUNCT fbem-28258 59 1 control control NOUN fbem-28258 59 2 variables variable NOUN fbem-28258 59 3 : : PUNCT fbem-28258 59 4 based base VERB fbem-28258 59 5 on on ADP fbem-28258 59 6 the the DET fbem-28258 59 7 research research NOUN fbem-28258 59 8 of of ADP fbem-28258 59 9 ye ye NUM fbem-28258 59 10 k.t.[10 k.t.[10 PROPN fbem-28258 59 11 ] ] PUNCT fbem-28258 59 12 , , PUNCT fbem-28258 59 13 this this DET fbem-28258 59 14 paper paper NOUN fbem-28258 59 15 controls control VERB fbem-28258 59 16 the the DET fbem-28258 59 17 following following ADJ fbem-28258 59 18 variables variable NOUN fbem-28258 59 19 , , PUNCT fbem-28258 59 20 as as SCONJ fbem-28258 59 21 shown show VERB fbem-28258 59 22 in in ADP fbem-28258 59 23 table table NOUN fbem-28258 59 24 1 1 NUM fbem-28258 59 25 . . PUNCT fbem-28258 59 26 table table NOUN fbem-28258 59 27 1 1 NUM fbem-28258 59 28 . . PUNCT fbem-28258 59 29 definition definition NOUN fbem-28258 59 30 of of ADP fbem-28258 59 31 variable variable ADJ fbem-28258 59 32 name name NOUN fbem-28258 59 33 symbol symbol NOUN fbem-28258 59 34 explanation explanation NOUN fbem-28258 59 35 explained explain VERB fbem-28258 59 36 variable variable ADJ fbem-28258 59 37 real real ADJ fbem-28258 59 38 earnings earning NOUN fbem-28258 59 39 management management NOUN fbem-28258 59 40 em em PRON fbem-28258 59 41 according accord VERB fbem-28258 59 42 to to ADP fbem-28258 59 43 the the DET fbem-28258 59 44 practice practice NOUN fbem-28258 59 45 of of ADP fbem-28258 59 46 roychowdhury roychowdhury NOUN fbem-28258 59 47 ( ( PUNCT fbem-28258 59 48 2006 2006 NUM fbem-28258 59 49 ) ) PUNCT fbem-28258 59 50 . . PUNCT fbem-28258 60 1 explanatory explanatory ADJ fbem-28258 60 2 variable variable NOUN fbem-28258 60 3 the the DET fbem-28258 60 4 first first ADJ fbem-28258 60 5 batch batch NOUN fbem-28258 60 6 of of ADP fbem-28258 60 7 pilot pilot NOUN fbem-28258 60 8 enterprises enterprise NOUN fbem-28258 60 9 place place VERB fbem-28258 60 10 if if SCONJ fbem-28258 60 11 the the DET fbem-28258 60 12 company company NOUN fbem-28258 60 13 is be AUX fbem-28258 60 14 located locate VERB fbem-28258 60 15 in in ADP fbem-28258 60 16 chongqing chongqing PROPN fbem-28258 60 17 , , PUNCT fbem-28258 60 18 shandong shandong PROPN fbem-28258 60 19 , , PUNCT fbem-28258 60 20 shanxi shanxi PROPN fbem-28258 60 21 , , PUNCT fbem-28258 60 22 place place NOUN fbem-28258 60 23 value value NOUN fbem-28258 60 24 is be AUX fbem-28258 60 25 1 1 NUM fbem-28258 60 26 ; ; PUNCT fbem-28258 60 27 in in ADP fbem-28258 60 28 16 16 NUM fbem-28258 60 29 provinces province NOUN fbem-28258 60 30 and and CCONJ fbem-28258 60 31 cities city NOUN fbem-28258 60 32 , , PUNCT fbem-28258 60 33 the the DET fbem-28258 60 34 value value NOUN fbem-28258 60 35 of of ADP fbem-28258 60 36 place place NOUN fbem-28258 60 37 is be AUX fbem-28258 60 38 0 0 NUM fbem-28258 60 39 . . PUNCT fbem-28258 61 1 the the DET fbem-28258 61 2 value value NOUN fbem-28258 61 3 of of ADP fbem-28258 61 4 the the DET fbem-28258 61 5 pilot pilot NOUN fbem-28258 61 6 start start VERB fbem-28258 61 7 time time NOUN fbem-28258 61 8 post post NOUN fbem-28258 61 9 the the DET fbem-28258 61 10 value value NOUN fbem-28258 61 11 is be AUX fbem-28258 61 12 1 1 NUM fbem-28258 61 13 ( ( PUNCT fbem-28258 61 14 2013 2013 NUM fbem-28258 61 15 - - SYM fbem-28258 61 16 2015 2015 NUM fbem-28258 61 17 ) ) PUNCT fbem-28258 61 18 , , PUNCT fbem-28258 61 19 and and CCONJ fbem-28258 62 1 0 0 NUM fbem-28258 62 2 ( ( PUNCT fbem-28258 62 3 2010 2010 NUM fbem-28258 62 4 - - SYM fbem-28258 62 5 2012 2012 NUM fbem-28258 62 6 ) ) PUNCT fbem-28258 62 7 . . PUNCT fbem-28258 63 1 mediating mediate VERB fbem-28258 63 2 variable variable NOUN fbem-28258 63 3 the the DET fbem-28258 63 4 degree degree NOUN fbem-28258 63 5 of of ADP fbem-28258 63 6 tax tax NOUN fbem-28258 63 7 avoidance avoidance NOUN fbem-28258 63 8 d_tax d_tax ADP fbem-28258 63 9 nominal nominal ADJ fbem-28258 63 10 income income NOUN fbem-28258 63 11 tax tax NOUN fbem-28258 63 12 rate rate NOUN fbem-28258 63 13 - - PUNCT fbem-28258 63 14 actual actual ADJ fbem-28258 63 15 income income NOUN fbem-28258 63 16 tax tax NOUN fbem-28258 63 17 rate rate NOUN fbem-28258 63 18 . . PUNCT fbem-28258 64 1 control control NOUN fbem-28258 64 2 variables variable VERB fbem-28258 64 3 ownership ownership NOUN fbem-28258 64 4 concentration concentration NOUN fbem-28258 64 5 hold hold VERB fbem-28258 64 6 the the DET fbem-28258 64 7 shareholding shareholding NOUN fbem-28258 64 8 ratio ratio NOUN fbem-28258 64 9 of of ADP fbem-28258 64 10 the the DET fbem-28258 64 11 largest large ADJ fbem-28258 64 12 shareholder shareholder NOUN fbem-28258 64 13 . . PUNCT fbem-28258 65 1 scale scale NOUN fbem-28258 65 2 of of ADP fbem-28258 65 3 company company NOUN fbem-28258 65 4 size size NOUN fbem-28258 65 5 ln ln NOUN fbem-28258 65 6 ( ( PUNCT fbem-28258 65 7 total total ADJ fbem-28258 65 8 assets asset NOUN fbem-28258 65 9 ) ) PUNCT fbem-28258 65 10 asset asset NOUN fbem-28258 65 11 - - PUNCT fbem-28258 65 12 liability liability NOUN fbem-28258 65 13 ratio ratio NOUN fbem-28258 65 14 lev lev PROPN fbem-28258 65 15 total total NOUN fbem-28258 65 16 beginning begin VERB fbem-28258 65 17 liabilities/ liabilities/ NUM fbem-28258 65 18 total total ADJ fbem-28258 65 19 beginning begin VERB fbem-28258 65 20 assets asset NOUN fbem-28258 65 21 loss loss NOUN fbem-28258 65 22 or or CCONJ fbem-28258 65 23 not not PART fbem-28258 65 24 loss loss VERB fbem-28258 65 25 dummy dummy ADJ fbem-28258 65 26 variable variable NOUN fbem-28258 65 27 , , PUNCT fbem-28258 65 28 net net ADJ fbem-28258 65 29 profit profit NOUN fbem-28258 65 30 less less ADJ fbem-28258 65 31 than than ADP fbem-28258 65 32 0 0 NUM fbem-28258 65 33 take take VERB fbem-28258 65 34 1 1 NUM fbem-28258 65 35 , , PUNCT fbem-28258 65 36 otherwise otherwise ADV fbem-28258 65 37 take take VERB fbem-28258 65 38 0 0 NUM fbem-28258 65 39 . . PUNCT fbem-28258 66 1 tobin tobin PROPN fbem-28258 66 2 's 's PART fbem-28258 66 3 q q NOUN fbem-28258 66 4 ratio ratio NOUN fbem-28258 66 5 tq tq ADP fbem-28258 66 6 total total ADJ fbem-28258 66 7 market market NOUN fbem-28258 66 8 value value NOUN fbem-28258 66 9 / / SYM fbem-28258 66 10 total total ADJ fbem-28258 66 11 assets asset NOUN fbem-28258 66 12 asset asset NOUN fbem-28258 66 13 turnover turnover NOUN fbem-28258 66 14 ratio ratio NOUN fbem-28258 66 15 turn turn VERB fbem-28258 66 16 operating operate VERB fbem-28258 66 17 income income NOUN fbem-28258 66 18 / / SYM fbem-28258 66 19 total total ADJ fbem-28258 66 20 assets asset NOUN fbem-28258 66 21 at at ADP fbem-28258 66 22 year year NOUN fbem-28258 66 23 end end NOUN fbem-28258 66 24 board board PROPN fbem-28258 66 25 size size NOUN fbem-28258 66 26 bsize bsize VERB fbem-28258 66 27 number number NOUN fbem-28258 66 28 of of ADP fbem-28258 66 29 directors director NOUN fbem-28258 66 30 . . PUNCT fbem-28258 67 1 proportion proportion NOUN fbem-28258 67 2 of of ADP fbem-28258 67 3 independent independent ADJ fbem-28258 67 4 directors director NOUN fbem-28258 67 5 drate drate ADJ fbem-28258 67 6 number number NOUN fbem-28258 67 7 of of ADP fbem-28258 67 8 independent independent ADJ fbem-28258 67 9 directors director NOUN fbem-28258 67 10 / / SYM fbem-28258 67 11 number number NOUN fbem-28258 67 12 of of ADP fbem-28258 67 13 directors director NOUN fbem-28258 67 14 . . PUNCT fbem-28258 68 1 number number NOUN fbem-28258 68 2 of of ADP fbem-28258 68 3 executive executive ADJ fbem-28258 68 4 holdings holding NOUN fbem-28258 68 5 tstock tstock NOUN fbem-28258 68 6 ln ln NOUN fbem-28258 68 7 ( ( PUNCT fbem-28258 68 8 executive executive ADJ fbem-28258 68 9 holdings+1 holdings+1 PROPN fbem-28258 68 10 ) ) PUNCT fbem-28258 68 11 executive executive NOUN fbem-28258 68 12 compensation compensation NOUN fbem-28258 68 13 tsalary tsalary PROPN fbem-28258 68 14 ln(compensation+1 ln(compensation+1 PROPN fbem-28258 68 15 ) ) PUNCT fbem-28258 68 16 audit audit NOUN fbem-28258 68 17 quality quality NOUN fbem-28258 68 18 big4 big4 NOUN fbem-28258 68 19 the the DET fbem-28258 68 20 value value NOUN fbem-28258 68 21 is be AUX fbem-28258 68 22 1 1 NUM fbem-28258 68 23 if if SCONJ fbem-28258 68 24 audited audit VERB fbem-28258 68 25 by by ADP fbem-28258 68 26 the the DET fbem-28258 68 27 big big ADJ fbem-28258 68 28 four four NUM fbem-28258 68 29 , , PUNCT fbem-28258 68 30 and and CCONJ fbem-28258 68 31 0 0 NUM fbem-28258 68 32 if if SCONJ fbem-28258 68 33 not not PART fbem-28258 68 34 . . PUNCT fbem-28258 69 1 156 156 NUM fbem-28258 69 2 4 4 NUM fbem-28258 69 3 . . PUNCT fbem-28258 69 4 empirical empirical ADJ fbem-28258 69 5 results result NOUN fbem-28258 69 6 and and CCONJ fbem-28258 69 7 analysis analysis NOUN fbem-28258 69 8 4.1 4.1 NUM fbem-28258 69 9 . . PUNCT fbem-28258 70 1 descriptive descriptive ADJ fbem-28258 70 2 statistics statistic NOUN fbem-28258 70 3 the the DET fbem-28258 70 4 descriptive descriptive ADJ fbem-28258 70 5 statistical statistical ADJ fbem-28258 70 6 results result NOUN fbem-28258 70 7 of of ADP fbem-28258 70 8 all all DET fbem-28258 70 9 variables variable NOUN fbem-28258 70 10 in in ADP fbem-28258 70 11 this this DET fbem-28258 70 12 paper paper NOUN fbem-28258 70 13 are be AUX fbem-28258 70 14 shown show VERB fbem-28258 70 15 in in ADP fbem-28258 70 16 table table NOUN fbem-28258 70 17 2 2 NUM fbem-28258 70 18 . . PUNCT fbem-28258 70 19 table table NOUN fbem-28258 70 20 2 2 NUM fbem-28258 70 21 shows show VERB fbem-28258 70 22 that that SCONJ fbem-28258 70 23 about about ADV fbem-28258 70 24 12.6 12.6 NUM fbem-28258 70 25 % % NOUN fbem-28258 70 26 of of ADP fbem-28258 70 27 the the DET fbem-28258 70 28 sample sample NOUN fbem-28258 70 29 enterprises enterprise NOUN fbem-28258 70 30 are be AUX fbem-28258 70 31 located locate VERB fbem-28258 70 32 in in ADP fbem-28258 70 33 the the DET fbem-28258 70 34 first first ADJ fbem-28258 70 35 batch batch NOUN fbem-28258 70 36 of of ADP fbem-28258 70 37 pilot pilot NOUN fbem-28258 70 38 areas area NOUN fbem-28258 70 39 of of ADP fbem-28258 70 40 the the DET fbem-28258 70 41 gt_iii gt_iii PROPN fbem-28258 70 42 . . PUNCT fbem-28258 71 1 moreover moreover ADV fbem-28258 71 2 , , PUNCT fbem-28258 71 3 in in ADP fbem-28258 71 4 the the DET fbem-28258 71 5 research research NOUN fbem-28258 71 6 samples sample NOUN fbem-28258 71 7 of of ADP fbem-28258 71 8 this this DET fbem-28258 71 9 paper paper NOUN fbem-28258 71 10 , , PUNCT fbem-28258 71 11 the the DET fbem-28258 71 12 real real ADJ fbem-28258 71 13 earnings earning NOUN fbem-28258 71 14 management management NOUN fbem-28258 71 15 degree degree NOUN fbem-28258 71 16 and and CCONJ fbem-28258 71 17 tax tax NOUN fbem-28258 71 18 avoidance avoidance NOUN fbem-28258 71 19 degree degree NOUN fbem-28258 71 20 of of ADP fbem-28258 71 21 different different ADJ fbem-28258 71 22 listed list VERB fbem-28258 71 23 companies company NOUN fbem-28258 71 24 are be AUX fbem-28258 71 25 quite quite ADV fbem-28258 71 26 different different ADJ fbem-28258 71 27 . . PUNCT fbem-28258 72 1 other other ADJ fbem-28258 72 2 variable variable ADJ fbem-28258 72 3 indicators indicator NOUN fbem-28258 72 4 are be AUX fbem-28258 72 5 also also ADV fbem-28258 72 6 within within ADP fbem-28258 72 7 a a DET fbem-28258 72 8 reasonable reasonable ADJ fbem-28258 72 9 range range NOUN fbem-28258 72 10 . . PUNCT fbem-28258 73 1 table table NOUN fbem-28258 73 2 2 2 NUM fbem-28258 73 3 . . PUNCT fbem-28258 73 4 descriptive descriptive ADJ fbem-28258 73 5 statistics statistic NOUN fbem-28258 73 6 variables variable NOUN fbem-28258 73 7 n n ADV fbem-28258 73 8 mean mean VERB fbem-28258 73 9 sd sd ADP fbem-28258 73 10 min min PROPN fbem-28258 73 11 max max PROPN fbem-28258 73 12 em em PROPN fbem-28258 73 13 6,984 6,984 NUM fbem-28258 73 14 0.182 0.182 NUM fbem-28258 73 15 0.196 0.196 NUM fbem-28258 73 16 0.00150 0.00150 NUM fbem-28258 73 17 1.645 1.645 NUM fbem-28258 73 18 place place NOUN fbem-28258 73 19 6,984 6,984 NUM fbem-28258 73 20 0.126 0.126 NUM fbem-28258 73 21 0.332 0.332 NUM fbem-28258 73 22 0 0 NUM fbem-28258 73 23 1 1 NUM fbem-28258 73 24 post post NOUN fbem-28258 73 25 6,984 6,984 NUM fbem-28258 73 26 0.500 0.500 NUM fbem-28258 73 27 0.500 0.500 NUM fbem-28258 73 28 0 0 NUM fbem-28258 73 29 1 1 NUM fbem-28258 73 30 d_tax d_tax ADP fbem-28258 73 31 6,984 6,984 NUM fbem-28258 73 32 0.126 0.126 NUM fbem-28258 73 33 0.210 0.210 NUM fbem-28258 73 34 0.000327 0.000327 NUM fbem-28258 73 35 2.124 2.124 NUM fbem-28258 73 36 size size NOUN fbem-28258 73 37 6,984 6,984 NUM fbem-28258 73 38 22.35 22.35 NUM fbem-28258 73 39 1.294 1.294 NUM fbem-28258 73 40 19.79 19.79 NUM fbem-28258 73 41 26.44 26.44 NUM fbem-28258 73 42 hold hold VERB fbem-28258 73 43 6,984 6,984 NUM fbem-28258 73 44 36.13 36.13 NUM fbem-28258 73 45 15.37 15.37 NUM fbem-28258 73 46 8.500 8.500 NUM fbem-28258 73 47 76.95 76.95 NUM fbem-28258 73 48 lev lev NOUN fbem-28258 73 49 6,984 6,984 NUM fbem-28258 73 50 0.500 0.500 NUM fbem-28258 73 51 0.195 0.195 NUM fbem-28258 73 52 0.0603 0.0603 NUM fbem-28258 73 53 0.901 0.901 NUM fbem-28258 73 54 loss loss NOUN fbem-28258 73 55 6,984 6,984 NUM fbem-28258 73 56 0.0840 0.0840 NUM fbem-28258 73 57 0.277 0.277 NUM fbem-28258 73 58 0 0 NUM fbem-28258 73 59 1 1 NUM fbem-28258 73 60 tq tq ADP fbem-28258 73 61 6,984 6,984 NUM fbem-28258 73 62 2.003 2.003 NUM fbem-28258 73 63 1.407 1.407 NUM fbem-28258 73 64 0 0 NUM fbem-28258 73 65 14.53 14.53 NUM fbem-28258 73 66 turn turn NOUN fbem-28258 73 67 6,984 6,984 NUM fbem-28258 73 68 0.704 0.704 NUM fbem-28258 73 69 0.511 0.511 NUM fbem-28258 73 70 0.0488 0.0488 NUM fbem-28258 73 71 3.113 3.113 NUM fbem-28258 73 72 bsize bsize VERB fbem-28258 73 73 6,984 6,984 NUM fbem-28258 73 74 9.061 9.061 NUM fbem-28258 73 75 1.813 1.813 NUM fbem-28258 73 76 5 5 NUM fbem-28258 73 77 15 15 NUM fbem-28258 73 78 drate drate NOUN fbem-28258 73 79 6,984 6,984 NUM fbem-28258 73 80 0.369 0.369 NUM fbem-28258 73 81 0.0522 0.0522 NUM fbem-28258 73 82 0.286 0.286 NUM fbem-28258 73 83 0.600 0.600 NUM fbem-28258 73 84 tstock tstock NOUN fbem-28258 73 85 6,984 6,984 NUM fbem-28258 73 86 6.718 6.718 NUM fbem-28258 73 87 6.747 6.747 NUM fbem-28258 73 88 0 0 NUM fbem-28258 73 89 19.31 19.31 NUM fbem-28258 73 90 variables variable NOUN fbem-28258 73 91 n n PRON fbem-28258 73 92 mean mean VERB fbem-28258 73 93 sd sd ADP fbem-28258 73 94 min min PROPN fbem-28258 73 95 max max PROPN fbem-28258 73 96 tsalary tsalary VERB fbem-28258 73 97 6,984 6,984 NUM fbem-28258 73 98 14.73 14.73 NUM fbem-28258 73 99 0.836 0.836 NUM fbem-28258 73 100 12.34 12.34 NUM fbem-28258 73 101 16.98 16.98 NUM fbem-28258 73 102 big4 big4 NOUN fbem-28258 73 103 6,984 6,984 NUM fbem-28258 73 104 0.0830 0.0830 NUM fbem-28258 73 105 0.276 0.276 NUM fbem-28258 73 106 0 0 NUM fbem-28258 73 107 1 1 NUM fbem-28258 73 108 table table NOUN fbem-28258 73 109 3 3 NUM fbem-28258 73 110 . . PUNCT fbem-28258 73 111 baseline baseline PROPN fbem-28258 73 112 regression regression PROPN fbem-28258 73 113 result result NOUN fbem-28258 73 114 ( ( PUNCT fbem-28258 73 115 1 1 X fbem-28258 73 116 ) ) PUNCT fbem-28258 73 117 em em PRON fbem-28258 73 118 ( ( PUNCT fbem-28258 73 119 2 2 X fbem-28258 73 120 ) ) PUNCT fbem-28258 73 121 em em PRON fbem-28258 73 122 placexpost placexpost PRON fbem-28258 73 123 -0.067 -0.067 NOUN fbem-28258 73 124 * * PUNCT fbem-28258 73 125 * * PUNCT fbem-28258 73 126 * * PUNCT fbem-28258 74 1 -0.063 -0.063 ADJ fbem-28258 74 2 * * PUNCT fbem-28258 74 3 * * PUNCT fbem-28258 74 4 * * PUNCT fbem-28258 74 5 ( ( PUNCT fbem-28258 74 6 0.014 0.014 NUM fbem-28258 74 7 ) ) PUNCT fbem-28258 74 8 ( ( PUNCT fbem-28258 74 9 0.014 0.014 NUM fbem-28258 74 10 ) ) PUNCT fbem-28258 74 11 size size NOUN fbem-28258 74 12 0.054 0.054 NUM fbem-28258 74 13 * * PUNCT fbem-28258 74 14 * * PUNCT fbem-28258 74 15 * * PUNCT fbem-28258 74 16 ( ( PUNCT fbem-28258 74 17 0.011 0.011 NUM fbem-28258 74 18 ) ) PUNCT fbem-28258 74 19 hold hold VERB fbem-28258 74 20 0.002 0.002 NUM fbem-28258 74 21 * * PUNCT fbem-28258 74 22 * * PUNCT fbem-28258 74 23 * * PUNCT fbem-28258 74 24 ( ( PUNCT fbem-28258 74 25 0.001 0.001 NUM fbem-28258 74 26 ) ) PUNCT fbem-28258 74 27 lev lev NOUN fbem-28258 74 28 0.027 0.027 NUM fbem-28258 74 29 ( ( PUNCT fbem-28258 74 30 0.039 0.039 NUM fbem-28258 74 31 ) ) PUNCT fbem-28258 74 32 loss loss NOUN fbem-28258 74 33 -0.006 -0.006 PROPN fbem-28258 74 34 ( ( PUNCT fbem-28258 74 35 0.008 0.008 NUM fbem-28258 74 36 ) ) PUNCT fbem-28258 74 37 tq tq ADV fbem-28258 74 38 0.007 0.007 NUM fbem-28258 74 39 * * PUNCT fbem-28258 74 40 * * PUNCT fbem-28258 74 41 * * PUNCT fbem-28258 74 42 ( ( PUNCT fbem-28258 74 43 0.002 0.002 NUM fbem-28258 74 44 ) ) PUNCT fbem-28258 74 45 turn turn VERB fbem-28258 74 46 0.122 0.122 NUM fbem-28258 74 47 * * PUNCT fbem-28258 74 48 * * PUNCT fbem-28258 74 49 * * PUNCT fbem-28258 74 50 ( ( PUNCT fbem-28258 74 51 0.023 0.023 NUM fbem-28258 74 52 ) ) PUNCT fbem-28258 74 53 bsize bsize VERB fbem-28258 74 54 0.002 0.002 NUM fbem-28258 74 55 ( ( PUNCT fbem-28258 74 56 0.003 0.003 NUM fbem-28258 74 57 ) ) PUNCT fbem-28258 74 58 drate drate NOUN fbem-28258 74 59 0.036 0.036 NUM fbem-28258 74 60 ( ( PUNCT fbem-28258 74 61 0.088 0.088 NUM fbem-28258 74 62 ) ) PUNCT fbem-28258 74 63 tstock tstock NOUN fbem-28258 74 64 -0.000 -0.000 PUNCT fbem-28258 74 65 ( ( PUNCT fbem-28258 74 66 0.001 0.001 NUM fbem-28258 74 67 ) ) PUNCT fbem-28258 74 68 tsalary tsalary ADJ fbem-28258 74 69 -0.022 -0.022 PROPN fbem-28258 74 70 * * PUNCT fbem-28258 74 71 * * PUNCT fbem-28258 74 72 * * PUNCT fbem-28258 74 73 ( ( PUNCT fbem-28258 74 74 0.008 0.008 NUM fbem-28258 74 75 ) ) PUNCT fbem-28258 74 76 big4 big4 NOUN fbem-28258 74 77 -0.009 -0.009 PUNCT fbem-28258 74 78 ( ( PUNCT fbem-28258 74 79 0.032 0.032 NUM fbem-28258 74 80 ) ) PUNCT fbem-28258 74 81 _ _ NOUN fbem-28258 74 82 cons con NOUN fbem-28258 74 83 0.185 0.185 NUM fbem-28258 74 84 * * PUNCT fbem-28258 74 85 * * PUNCT fbem-28258 74 86 * * PUNCT fbem-28258 74 87 -0.930 -0.930 PUNCT fbem-28258 74 88 * * PUNCT fbem-28258 74 89 * * PUNCT fbem-28258 74 90 * * PUNCT fbem-28258 74 91 ( ( PUNCT fbem-28258 74 92 0.001 0.001 NUM fbem-28258 74 93 ) ) PUNCT fbem-28258 74 94 ( ( PUNCT fbem-28258 74 95 0.244 0.244 NUM fbem-28258 74 96 ) ) PUNCT fbem-28258 74 97 n n NOUN fbem-28258 74 98 6984.000 6984.000 NUM fbem-28258 74 99 6984.000 6984.000 NUM fbem-28258 74 100 r2 r2 NOUN fbem-28258 74 101 0.005 0.005 NUM fbem-28258 74 102 0.032 0.032 NUM fbem-28258 74 103 standard standard ADJ fbem-28258 74 104 errors error NOUN fbem-28258 74 105 in in ADP fbem-28258 74 106 parentheses parenthesis NOUN fbem-28258 74 107 : : PUNCT fbem-28258 74 108 * * PUNCT fbem-28258 74 109 p p X fbem-28258 74 110 < < X fbem-28258 74 111 0.1 0.1 NUM fbem-28258 74 112 , , PUNCT fbem-28258 74 113 * * PUNCT fbem-28258 74 114 * * PUNCT fbem-28258 75 1 p p X fbem-28258 75 2 < < X fbem-28258 75 3 0.05 0.05 NUM fbem-28258 75 4 , , PUNCT fbem-28258 75 5 * * PUNCT fbem-28258 75 6 * * PUNCT fbem-28258 75 7 * * PUNCT fbem-28258 76 1 p p X fbem-28258 76 2 < < X fbem-28258 76 3 0.01 0.01 NUM fbem-28258 76 4 4.2 4.2 NUM fbem-28258 76 5 . . PUNCT fbem-28258 77 1 baseline baseline PROPN fbem-28258 77 2 regression regression PROPN fbem-28258 77 3 result result NOUN fbem-28258 77 4 table table NOUN fbem-28258 77 5 3 3 NUM fbem-28258 77 6 is be AUX fbem-28258 77 7 the the DET fbem-28258 77 8 regression regression NOUN fbem-28258 77 9 result result NOUN fbem-28258 77 10 based base VERB fbem-28258 77 11 on on ADP fbem-28258 77 12 ( ( PUNCT fbem-28258 77 13 1 1 NUM fbem-28258 77 14 ) ) PUNCT fbem-28258 77 15 . . PUNCT fbem-28258 78 1 the the DET fbem-28258 78 2 first first ADJ fbem-28258 78 3 column column NOUN fbem-28258 78 4 includes include VERB fbem-28258 78 5 only only ADV fbem-28258 78 6 the the DET fbem-28258 78 7 explained explain VERB fbem-28258 78 8 variables variable NOUN fbem-28258 78 9 real real ADJ fbem-28258 78 10 earnings earning NOUN fbem-28258 78 11 management management NOUN fbem-28258 78 12 ( ( PUNCT fbem-28258 78 13 em em NOUN fbem-28258 78 14 ) ) PUNCT fbem-28258 78 15 and and CCONJ fbem-28258 78 16 policy policy NOUN fbem-28258 78 17 dummy dummy ADJ fbem-28258 78 18 variables variable NOUN fbem-28258 78 19 ( ( PUNCT fbem-28258 78 20 placexpost placexpost ADJ fbem-28258 78 21 ) ) PUNCT fbem-28258 78 22 , , PUNCT fbem-28258 78 23 and and CCONJ fbem-28258 78 24 the the DET fbem-28258 78 25 second second ADJ fbem-28258 78 26 column column NOUN fbem-28258 78 27 includes include VERB fbem-28258 78 28 company company NOUN fbem-28258 78 29 characteristics characteristic NOUN fbem-28258 78 30 . . PUNCT fbem-28258 79 1 the the DET fbem-28258 79 2 results result NOUN fbem-28258 79 3 show show VERB fbem-28258 79 4 that that SCONJ fbem-28258 79 5 the the DET fbem-28258 79 6 model model NOUN fbem-28258 79 7 is be AUX fbem-28258 79 8 optimized optimize VERB fbem-28258 79 9 gradually gradually ADV fbem-28258 79 10 with with ADP fbem-28258 79 11 the the DET fbem-28258 79 12 addition addition NOUN fbem-28258 79 13 of of ADP fbem-28258 79 14 control control NOUN fbem-28258 79 15 variables variable NOUN fbem-28258 79 16 . . PUNCT fbem-28258 80 1 in in ADP fbem-28258 80 2 the the DET fbem-28258 80 3 second second ADJ fbem-28258 80 4 column column NOUN fbem-28258 80 5 , , PUNCT fbem-28258 80 6 the the DET fbem-28258 80 7 regression regression NOUN fbem-28258 80 8 coefficient coefficient NOUN fbem-28258 80 9 of of ADP fbem-28258 80 10 the the DET fbem-28258 80 11 policy policy NOUN fbem-28258 80 12 dummy dummy ADJ fbem-28258 80 13 variable variable NOUN fbem-28258 80 14 is be AUX fbem-28258 80 15 significantly significantly ADV fbem-28258 80 16 negative negative ADJ fbem-28258 80 17 at at ADP fbem-28258 80 18 the the DET fbem-28258 80 19 1 1 NUM fbem-28258 80 20 % % NOUN fbem-28258 80 21 level level NOUN fbem-28258 80 22 . . PUNCT fbem-28258 81 1 this this PRON fbem-28258 81 2 shows show VERB fbem-28258 81 3 that that SCONJ fbem-28258 81 4 after after ADP fbem-28258 81 5 the the DET fbem-28258 81 6 implementation implementation NOUN fbem-28258 81 7 of of ADP fbem-28258 81 8 the the DET fbem-28258 81 9 gt_iii gt_iii PROPN fbem-28258 81 10 policy policy NOUN fbem-28258 81 11 , , PUNCT fbem-28258 81 12 enterprises enterprise NOUN fbem-28258 81 13 take take VERB fbem-28258 81 14 less less ADJ fbem-28258 81 15 real real ADJ fbem-28258 81 16 earnings earning NOUN fbem-28258 81 17 management management NOUN fbem-28258 81 18 , , PUNCT fbem-28258 81 19 which which PRON fbem-28258 81 20 verifies verify VERB fbem-28258 81 21 the the DET fbem-28258 81 22 hypothesis hypothesis NOUN fbem-28258 81 23 of of ADP fbem-28258 81 24 this this DET fbem-28258 81 25 paper paper NOUN fbem-28258 81 26 . . PUNCT fbem-28258 82 1 4.3 4.3 NUM fbem-28258 82 2 . . PUNCT fbem-28258 83 1 mediating mediate VERB fbem-28258 83 2 effect effect NOUN fbem-28258 83 3 table table NOUN fbem-28258 83 4 4 4 NUM fbem-28258 83 5 shows show VERB fbem-28258 83 6 the the DET fbem-28258 83 7 results result NOUN fbem-28258 83 8 of of ADP fbem-28258 83 9 the the DET fbem-28258 83 10 mediation mediation NOUN fbem-28258 83 11 effect effect NOUN fbem-28258 83 12 test test NOUN fbem-28258 83 13 based base VERB fbem-28258 83 14 on on ADP fbem-28258 83 15 ( ( PUNCT fbem-28258 83 16 7 7 NUM fbem-28258 83 17 ) ) PUNCT fbem-28258 83 18 , , PUNCT fbem-28258 83 19 ( ( PUNCT fbem-28258 83 20 8) 8) NUM fbem-28258 83 21 and and CCONJ fbem-28258 83 22 ( ( PUNCT fbem-28258 83 23 9 9 NUM fbem-28258 83 24 ) ) PUNCT fbem-28258 83 25 . . PUNCT fbem-28258 84 1 ο₯ ο₯ X fbem-28258 85 1 + + PUNCT fbem-28258 85 2 + + ADJ fbem-28258 85 3 ο‚΄+= ο‚΄+= ADJ fbem-28258 85 4 οƒ₯ οƒ₯ X fbem-28258 85 5 controlpostplaceem controlpostplaceem PROPN fbem-28258 85 6 k10 k10 PROPN fbem-28258 85 7 ( ( PUNCT fbem-28258 85 8 7 7 NUM fbem-28258 85 9 ) ) PUNCT fbem-28258 85 10 ο₯ ο₯ PUNCT fbem-28258 86 1 + + PUNCT fbem-28258 86 2 + + ADJ fbem-28258 86 3 ο‚΄+= ο‚΄+= ADJ fbem-28258 86 4 οƒ₯ οƒ₯ NOUN fbem-28258 86 5 controlpostplacetaxd controlpostplacetaxd NOUN fbem-28258 86 6 k10 k10 NOUN fbem-28258 86 7 _ _ PROPN fbem-28258 87 1 ( ( PUNCT fbem-28258 87 2 8) 8) NUM fbem-28258 87 3 ο₯ ο₯ NOUN fbem-28258 88 1 + + PROPN fbem-28258 88 2 + + ADJ fbem-28258 88 3 + + ADJ fbem-28258 88 4 ο‚΄+= ο‚΄+= ADJ fbem-28258 88 5 οƒ₯ οƒ₯ NOUN fbem-28258 88 6 controltaxdpostplaceem controltaxdpostplaceem NOUN fbem-28258 88 7 k_210 k_210 NOUN fbem-28258 88 8 ( ( PUNCT fbem-28258 88 9 9 9 NUM fbem-28258 88 10 ) ) PUNCT fbem-28258 88 11 table table NOUN fbem-28258 88 12 4 4 NUM fbem-28258 88 13 . . PUNCT fbem-28258 88 14 mediating mediate VERB fbem-28258 88 15 effect effect NOUN fbem-28258 88 16 result result NOUN fbem-28258 88 17 ( ( PUNCT fbem-28258 88 18 1 1 X fbem-28258 88 19 ) ) PUNCT fbem-28258 88 20 em em PRON fbem-28258 88 21 ( ( PUNCT fbem-28258 88 22 2 2 X fbem-28258 88 23 ) ) PUNCT fbem-28258 88 24 d_tax d_tax NOUN fbem-28258 88 25 ( ( PUNCT fbem-28258 88 26 3 3 X fbem-28258 88 27 ) ) PUNCT fbem-28258 88 28 em em PRON fbem-28258 88 29 placexpost placexpost PRON fbem-28258 88 30 -0.036 -0.036 PROPN fbem-28258 88 31 * * PUNCT fbem-28258 88 32 * * PUNCT fbem-28258 88 33 * * PUNCT fbem-28258 88 34 0.036 0.036 NUM fbem-28258 88 35 * * PUNCT fbem-28258 88 36 * * PUNCT fbem-28258 88 37 -0.035 -0.035 PUNCT fbem-28258 88 38 * * PUNCT fbem-28258 88 39 * * PUNCT fbem-28258 88 40 * * PUNCT fbem-28258 88 41 ( ( PUNCT fbem-28258 88 42 0.008 0.008 NUM fbem-28258 88 43 ) ) PUNCT fbem-28258 88 44 ( ( PUNCT fbem-28258 88 45 0.016 0.016 NUM fbem-28258 88 46 ) ) PUNCT fbem-28258 88 47 ( ( PUNCT fbem-28258 88 48 0.008 0.008 NUM fbem-28258 88 49 ) ) PUNCT fbem-28258 88 50 d_tax d_tax NOUN fbem-28258 88 51 -0.041 -0.041 NOUN fbem-28258 88 52 * * PUNCT fbem-28258 88 53 * * PUNCT fbem-28258 88 54 * * PUNCT fbem-28258 88 55 ( ( PUNCT fbem-28258 88 56 0.009 0.009 NUM fbem-28258 88 57 ) ) PUNCT fbem-28258 88 58 hold hold VERB fbem-28258 88 59 0.001 0.001 NUM fbem-28258 88 60 * * NOUN fbem-28258 88 61 * * PUNCT fbem-28258 88 62 * * PUNCT fbem-28258 88 63 -0.001 -0.001 PUNCT fbem-28258 88 64 * * PUNCT fbem-28258 88 65 * * PUNCT fbem-28258 88 66 * * PUNCT fbem-28258 88 67 0.001 0.001 NUM fbem-28258 88 68 * * PUNCT fbem-28258 88 69 * * PUNCT fbem-28258 88 70 * * PUNCT fbem-28258 88 71 ( ( PUNCT fbem-28258 88 72 0.000 0.000 NUM fbem-28258 88 73 ) ) PUNCT fbem-28258 88 74 ( ( PUNCT fbem-28258 88 75 0.000 0.000 NUM fbem-28258 88 76 ) ) PUNCT fbem-28258 88 77 ( ( PUNCT fbem-28258 88 78 0.000 0.000 X fbem-28258 88 79 ) ) PUNCT fbem-28258 88 80 lev lev NOUN fbem-28258 88 81 0.030 0.030 NUM fbem-28258 88 82 * * PUNCT fbem-28258 88 83 * * NOUN fbem-28258 88 84 0.072 0.072 NUM fbem-28258 88 85 * * PUNCT fbem-28258 88 86 * * PUNCT fbem-28258 88 87 * * PUNCT fbem-28258 88 88 0.033 0.033 NUM fbem-28258 88 89 * * PUNCT fbem-28258 88 90 * * PUNCT fbem-28258 88 91 ( ( PUNCT fbem-28258 88 92 0.015 0.015 NUM fbem-28258 88 93 ) ) PUNCT fbem-28258 88 94 ( ( PUNCT fbem-28258 88 95 0.013 0.013 NUM fbem-28258 88 96 ) ) PUNCT fbem-28258 88 97 ( ( PUNCT fbem-28258 88 98 0.015 0.015 NUM fbem-28258 88 99 ) ) PUNCT fbem-28258 88 100 loss loss NOUN fbem-28258 88 101 -0.012 -0.012 NOUN fbem-28258 88 102 * * NOUN fbem-28258 88 103 0.288 0.288 NUM fbem-28258 88 104 * * PUNCT fbem-28258 88 105 * * PUNCT fbem-28258 88 106 * * PUNCT fbem-28258 88 107 0.000 0.000 NUM fbem-28258 88 108 ( ( PUNCT fbem-28258 88 109 0.007 0.007 NUM fbem-28258 88 110 ) ) PUNCT fbem-28258 88 111 ( ( PUNCT fbem-28258 88 112 0.019 0.019 NUM fbem-28258 88 113 ) ) PUNCT fbem-28258 88 114 ( ( PUNCT fbem-28258 88 115 0.008 0.008 NUM fbem-28258 88 116 ) ) PUNCT fbem-28258 88 117 size size NOUN fbem-28258 88 118 -0.002 -0.002 PUNCT fbem-28258 88 119 0.001 0.001 NUM fbem-28258 88 120 -0.002 -0.002 PUNCT fbem-28258 88 121 ( ( PUNCT fbem-28258 88 122 0.003 0.003 NUM fbem-28258 88 123 ) ) PUNCT fbem-28258 88 124 ( ( PUNCT fbem-28258 88 125 0.003 0.003 NUM fbem-28258 88 126 ) ) PUNCT fbem-28258 88 127 ( ( PUNCT fbem-28258 88 128 0.003 0.003 NUM fbem-28258 88 129 ) ) PUNCT fbem-28258 88 130 tq tq ADP fbem-28258 88 131 0.022 0.022 NUM fbem-28258 88 132 * * PUNCT fbem-28258 88 133 * * PUNCT fbem-28258 88 134 * * PUNCT fbem-28258 88 135 -0.001 -0.001 PUNCT fbem-28258 88 136 0.022 0.022 NUM fbem-28258 88 137 * * PUNCT fbem-28258 88 138 * * PUNCT fbem-28258 88 139 * * PUNCT fbem-28258 88 140 ( ( PUNCT fbem-28258 88 141 0.002 0.002 NUM fbem-28258 88 142 ) ) PUNCT fbem-28258 88 143 ( ( PUNCT fbem-28258 88 144 0.002 0.002 NUM fbem-28258 88 145 ) ) PUNCT fbem-28258 88 146 ( ( PUNCT fbem-28258 88 147 0.002 0.002 NUM fbem-28258 88 148 ) ) PUNCT fbem-28258 88 149 age age NOUN fbem-28258 88 150 0.052 0.052 PRON fbem-28258 88 151 * * PUNCT fbem-28258 88 152 * * PUNCT fbem-28258 88 153 * * PUNCT fbem-28258 88 154 0.020 0.020 NUM fbem-28258 88 155 0.053 0.053 NUM fbem-28258 88 156 * * PUNCT fbem-28258 88 157 * * PUNCT fbem-28258 88 158 * * PUNCT fbem-28258 88 159 ( ( PUNCT fbem-28258 88 160 0.013 0.013 NUM fbem-28258 88 161 ) ) PUNCT fbem-28258 88 162 ( ( PUNCT fbem-28258 88 163 0.013 0.013 NUM fbem-28258 88 164 ) ) PUNCT fbem-28258 88 165 ( ( PUNCT fbem-28258 88 166 0.013 0.013 NUM fbem-28258 88 167 ) ) PUNCT fbem-28258 88 168 turn turn VERB fbem-28258 88 169 0.073 0.073 NUM fbem-28258 88 170 * * PUNCT fbem-28258 88 171 * * PUNCT fbem-28258 88 172 * * PUNCT fbem-28258 88 173 -0.007 -0.007 PUNCT fbem-28258 88 174 0.073 0.073 NUM fbem-28258 88 175 * * PUNCT fbem-28258 88 176 * * PUNCT fbem-28258 88 177 * * PUNCT fbem-28258 88 178 ( ( PUNCT fbem-28258 88 179 0.006 0.006 NUM fbem-28258 88 180 ) ) PUNCT 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245 ( ( PUNCT fbem-28258 88 246 0.003 0.003 NUM fbem-28258 88 247 ) ) PUNCT fbem-28258 88 248 ( ( PUNCT fbem-28258 88 249 0.004 0.004 NUM fbem-28258 88 250 ) ) PUNCT fbem-28258 88 251 big4 big4 NOUN fbem-28258 88 252 -0.008 -0.008 PUNCT fbem-28258 88 253 -0.019 -0.019 X fbem-28258 88 254 * * PUNCT fbem-28258 88 255 * * PUNCT fbem-28258 88 256 -0.009 -0.009 PUNCT fbem-28258 88 257 ( ( PUNCT fbem-28258 88 258 0.010 0.010 NUM fbem-28258 88 259 ) ) PUNCT fbem-28258 88 260 ( ( PUNCT fbem-28258 88 261 0.008 0.008 NUM fbem-28258 88 262 ) ) PUNCT fbem-28258 88 263 ( ( PUNCT fbem-28258 88 264 0.010 0.010 NUM fbem-28258 88 265 ) ) PUNCT fbem-28258 89 1 _ _ NOUN fbem-28258 89 2 cons con NOUN fbem-28258 89 3 -0.146 -0.146 NOUN fbem-28258 89 4 * * NOUN fbem-28258 89 5 * * NOUN fbem-28258 89 6 0.233 0.233 NUM fbem-28258 89 7 * * PUNCT fbem-28258 89 8 * * PUNCT fbem-28258 89 9 * * PUNCT fbem-28258 89 10 -0.137 -0.137 X fbem-28258 89 11 * * PUNCT fbem-28258 89 12 * * PUNCT fbem-28258 89 13 ( ( PUNCT fbem-28258 89 14 0.068 0.068 NUM fbem-28258 89 15 ) ) PUNCT fbem-28258 89 16 ( ( PUNCT fbem-28258 89 17 0.071 0.071 NUM fbem-28258 89 18 ) ) PUNCT fbem-28258 89 19 ( ( PUNCT fbem-28258 89 20 0.068 0.068 NUM fbem-28258 89 21 ) ) PUNCT fbem-28258 89 22 n n NOUN fbem-28258 89 23 6984.000 6984.000 NUM fbem-28258 90 1 6984.000 6984.000 NUM fbem-28258 90 2 6984.000 6984.000 NUM fbem-28258 90 3 r2 r2 NOUN fbem-28258 90 4 0.071 0.071 NUM fbem-28258 90 5 0.176 0.176 NUM fbem-28258 90 6 0.072 0.072 NUM fbem-28258 90 7 standard standard ADJ fbem-28258 90 8 errors error NOUN fbem-28258 90 9 in in ADP fbem-28258 90 10 parentheses parenthesis NOUN fbem-28258 90 11 : : PUNCT fbem-28258 90 12 * * PUNCT fbem-28258 90 13 p p X fbem-28258 90 14 < < X fbem-28258 90 15 0.1 0.1 NUM fbem-28258 90 16 , , PUNCT fbem-28258 90 17 * * PUNCT fbem-28258 90 18 * * PUNCT fbem-28258 91 1 p p X fbem-28258 91 2 < < X fbem-28258 91 3 0.05 0.05 NUM fbem-28258 91 4 , , PUNCT fbem-28258 91 5 * * PUNCT fbem-28258 91 6 * * PUNCT fbem-28258 91 7 * * PUNCT fbem-28258 92 1 p p X fbem-28258 92 2 < < X fbem-28258 92 3 0.01 0.01 NUM fbem-28258 92 4 in in ADP fbem-28258 92 5 the the DET fbem-28258 92 6 second second ADJ fbem-28258 92 7 column column NOUN fbem-28258 92 8 , , PUNCT fbem-28258 92 9 the the DET fbem-28258 92 10 coefficient coefficient NOUN fbem-28258 92 11 of of ADP fbem-28258 92 12 the the DET fbem-28258 92 13 explanatory explanatory ADJ fbem-28258 92 14 variable variable NOUN fbem-28258 92 15 ( ( PUNCT fbem-28258 92 16 placexpost placexpost ADJ fbem-28258 92 17 ) ) PUNCT fbem-28258 92 18 is be AUX fbem-28258 92 19 0.033 0.033 NUM fbem-28258 92 20 and and CCONJ fbem-28258 92 21 is be AUX fbem-28258 92 22 significant significant ADJ fbem-28258 92 23 at at ADP fbem-28258 92 24 the the DET fbem-28258 92 25 5 5 NUM fbem-28258 92 26 % % NOUN fbem-28258 92 27 level level NOUN fbem-28258 92 28 . . PUNCT fbem-28258 93 1 this this PRON fbem-28258 93 2 shows show VERB fbem-28258 93 3 that that SCONJ fbem-28258 93 4 during during ADP fbem-28258 93 5 the the DET fbem-28258 93 6 pilot pilot NOUN fbem-28258 93 7 process process NOUN fbem-28258 93 8 of of ADP fbem-28258 93 9 gt_iii gt_iii PROPN fbem-28258 93 10 , , PUNCT fbem-28258 93 11 the the DET fbem-28258 93 12 157 157 NUM fbem-28258 93 13 tax tax NOUN fbem-28258 93 14 avoidance avoidance NOUN fbem-28258 93 15 behavior behavior NOUN fbem-28258 93 16 of of ADP fbem-28258 93 17 enterprises enterprise NOUN fbem-28258 93 18 has have AUX fbem-28258 93 19 increased increase VERB fbem-28258 93 20 . . PUNCT fbem-28258 94 1 furthermore furthermore ADV fbem-28258 94 2 , , PUNCT fbem-28258 94 3 in in ADP fbem-28258 94 4 the the DET fbem-28258 94 5 third third ADJ fbem-28258 94 6 column column NOUN fbem-28258 94 7 , , PUNCT fbem-28258 94 8 it it PRON fbem-28258 94 9 is be AUX fbem-28258 94 10 found find VERB fbem-28258 94 11 that that SCONJ fbem-28258 94 12 there there PRON fbem-28258 94 13 is be VERB fbem-28258 94 14 a a DET fbem-28258 94 15 negative negative ADJ fbem-28258 94 16 correlation correlation NOUN fbem-28258 94 17 between between ADP fbem-28258 94 18 the the DET fbem-28258 94 19 degree degree NOUN fbem-28258 94 20 of of ADP fbem-28258 94 21 tax tax NOUN fbem-28258 94 22 avoidance avoidance NOUN fbem-28258 94 23 ( ( PUNCT fbem-28258 94 24 d_tax d_tax NOUN fbem-28258 94 25 ) ) PUNCT fbem-28258 94 26 and and CCONJ fbem-28258 94 27 real real ADJ fbem-28258 94 28 earnings earning NOUN fbem-28258 94 29 management management NOUN fbem-28258 94 30 . . PUNCT fbem-28258 95 1 moreover moreover ADV fbem-28258 95 2 , , PUNCT fbem-28258 95 3 the the DET fbem-28258 95 4 regression regression NOUN fbem-28258 95 5 coefficient coefficient NOUN fbem-28258 95 6 of of ADP fbem-28258 95 7 the the DET fbem-28258 95 8 policy policy NOUN fbem-28258 95 9 dummy dummy ADJ fbem-28258 95 10 variable variable NOUN fbem-28258 95 11 ( ( PUNCT fbem-28258 95 12 placexpost placexpost ADJ fbem-28258 95 13 ) ) PUNCT fbem-28258 95 14 is be AUX fbem-28258 95 15 still still ADV fbem-28258 95 16 negative negative ADJ fbem-28258 95 17 . . PUNCT fbem-28258 96 1 this this DET fbem-28258 96 2 result result NOUN fbem-28258 96 3 reveals reveal VERB fbem-28258 96 4 the the DET fbem-28258 96 5 mediating mediate VERB fbem-28258 96 6 role role NOUN fbem-28258 96 7 of of ADP fbem-28258 96 8 corporate corporate ADJ fbem-28258 96 9 tax tax NOUN fbem-28258 96 10 avoidance avoidance NOUN fbem-28258 96 11 in in ADP fbem-28258 96 12 the the DET fbem-28258 96 13 relationship relationship NOUN fbem-28258 96 14 between between ADP fbem-28258 96 15 tax tax NOUN fbem-28258 96 16 collection collection NOUN fbem-28258 96 17 and and CCONJ fbem-28258 96 18 real real ADJ fbem-28258 96 19 earnings earning NOUN fbem-28258 96 20 management management NOUN fbem-28258 96 21 , , PUNCT fbem-28258 96 22 thus thus ADV fbem-28258 96 23 verifying verify VERB fbem-28258 96 24 the the DET fbem-28258 96 25 hypothesis hypothesis NOUN fbem-28258 96 26 of of ADP fbem-28258 96 27 this this DET fbem-28258 96 28 paper paper NOUN fbem-28258 96 29 . . PUNCT fbem-28258 97 1 5 5 X fbem-28258 97 2 . . X fbem-28258 97 3 conclusion conclusion NOUN fbem-28258 97 4 this this DET fbem-28258 97 5 article article NOUN fbem-28258 97 6 analyzes analyze VERB fbem-28258 97 7 that that SCONJ fbem-28258 97 8 tax tax NOUN fbem-28258 97 9 collection collection NOUN fbem-28258 97 10 and and CCONJ fbem-28258 97 11 administration administration NOUN fbem-28258 97 12 affect affect VERB fbem-28258 97 13 real real ADJ fbem-28258 97 14 earnings earning NOUN fbem-28258 97 15 management management NOUN fbem-28258 97 16 . . PUNCT fbem-28258 98 1 first first ADV fbem-28258 98 2 of of ADP fbem-28258 98 3 all all PRON fbem-28258 98 4 , , PUNCT fbem-28258 98 5 the the DET fbem-28258 98 6 golden golden ADJ fbem-28258 98 7 tax tax NOUN fbem-28258 98 8 project project NOUN fbem-28258 98 9 phase phase NOUN fbem-28258 98 10 iii iii NUM fbem-28258 98 11 has have AUX fbem-28258 98 12 been be AUX fbem-28258 98 13 piloted pilot VERB fbem-28258 98 14 in in ADP fbem-28258 98 15 batches batch NOUN fbem-28258 98 16 in in ADP fbem-28258 98 17 china china PROPN fbem-28258 98 18 . . PUNCT fbem-28258 99 1 this this DET fbem-28258 99 2 paper paper NOUN fbem-28258 99 3 uses use VERB fbem-28258 99 4 this this DET fbem-28258 99 5 process process NOUN fbem-28258 99 6 to to PART fbem-28258 99 7 measure measure VERB fbem-28258 99 8 the the DET fbem-28258 99 9 tax tax NOUN fbem-28258 99 10 administration administration NOUN fbem-28258 99 11 intensity intensity NOUN fbem-28258 99 12 of of ADP fbem-28258 99 13 the the DET fbem-28258 99 14 tax tax NOUN fbem-28258 99 15 authorities authority NOUN fbem-28258 99 16 . . PUNCT fbem-28258 100 1 secondly secondly ADV fbem-28258 100 2 , , PUNCT fbem-28258 100 3 with with ADP fbem-28258 100 4 the the DET fbem-28258 100 5 help help NOUN fbem-28258 100 6 of of ADP fbem-28258 100 7 differential differential ADJ fbem-28258 100 8 method method NOUN fbem-28258 100 9 , , PUNCT fbem-28258 100 10 the the DET fbem-28258 100 11 paper paper NOUN fbem-28258 100 12 employs employ VERB fbem-28258 100 13 the the DET fbem-28258 100 14 difference difference NOUN fbem-28258 100 15 - - PUNCT fbem-28258 100 16 indifferences indifference NOUN fbem-28258 100 17 model model NOUN fbem-28258 100 18 to to PART fbem-28258 100 19 analyze analyze VERB fbem-28258 100 20 the the DET fbem-28258 100 21 impact impact NOUN fbem-28258 100 22 of of ADP fbem-28258 100 23 tax tax NOUN fbem-28258 100 24 collection collection NOUN fbem-28258 100 25 and and CCONJ fbem-28258 100 26 administration administration NOUN fbem-28258 100 27 on on ADP fbem-28258 100 28 real real ADJ fbem-28258 100 29 earnings earning NOUN fbem-28258 100 30 management management NOUN fbem-28258 100 31 . . PUNCT fbem-28258 101 1 finally finally ADV fbem-28258 101 2 , , PUNCT fbem-28258 101 3 the the DET fbem-28258 101 4 paper paper NOUN fbem-28258 101 5 finds find VERB fbem-28258 101 6 that that SCONJ fbem-28258 101 7 the the DET fbem-28258 101 8 degree degree NOUN fbem-28258 101 9 of of ADP fbem-28258 101 10 corporate corporate ADJ fbem-28258 101 11 tax tax NOUN fbem-28258 101 12 avoidance avoidance NOUN fbem-28258 101 13 plays play VERB fbem-28258 101 14 an an DET fbem-28258 101 15 intermediary intermediary ADJ fbem-28258 101 16 role role NOUN fbem-28258 101 17 in in ADP fbem-28258 101 18 the the DET fbem-28258 101 19 relationship relationship NOUN fbem-28258 101 20 between between ADP fbem-28258 101 21 tax tax NOUN fbem-28258 101 22 collection collection NOUN fbem-28258 101 23 and and CCONJ fbem-28258 101 24 real real ADJ fbem-28258 101 25 earnings earning NOUN fbem-28258 101 26 management management NOUN fbem-28258 101 27 . . PUNCT fbem-28258 102 1 combined combine VERB fbem-28258 102 2 with with ADP fbem-28258 102 3 the the DET fbem-28258 102 4 research research NOUN fbem-28258 102 5 conclusions conclusion NOUN fbem-28258 102 6 of of ADP fbem-28258 102 7 this this DET fbem-28258 102 8 paper paper NOUN fbem-28258 102 9 , , PUNCT fbem-28258 102 10 the the DET fbem-28258 102 11 following follow VERB fbem-28258 102 12 enlightenment enlightenment NOUN fbem-28258 102 13 can can AUX fbem-28258 102 14 be be AUX fbem-28258 102 15 drawn draw VERB fbem-28258 102 16 . . PUNCT fbem-28258 103 1 5.1 5.1 NUM fbem-28258 103 2 . . PUNCT fbem-28258 104 1 pay pay VERB fbem-28258 104 2 attention attention NOUN fbem-28258 104 3 to to ADP fbem-28258 104 4 the the DET fbem-28258 104 5 indirect indirect ADJ fbem-28258 104 6 effects effect NOUN fbem-28258 104 7 of of ADP fbem-28258 104 8 tax tax NOUN fbem-28258 104 9 policy policy NOUN fbem-28258 104 10 as as ADP fbem-28258 104 11 one one NUM fbem-28258 104 12 of of ADP fbem-28258 104 13 the the DET fbem-28258 104 14 most most ADV fbem-28258 104 15 significant significant ADJ fbem-28258 104 16 external external ADJ fbem-28258 104 17 management management NOUN fbem-28258 104 18 mechanisms mechanism NOUN fbem-28258 104 19 , , PUNCT fbem-28258 104 20 tax tax NOUN fbem-28258 104 21 collection collection NOUN fbem-28258 104 22 and and CCONJ fbem-28258 104 23 management management NOUN fbem-28258 104 24 plays play VERB fbem-28258 104 25 a a DET fbem-28258 104 26 crucial crucial ADJ fbem-28258 104 27 role role NOUN fbem-28258 104 28 in in ADP fbem-28258 104 29 alleviating alleviate VERB fbem-28258 104 30 the the DET fbem-28258 104 31 information information NOUN fbem-28258 104 32 gap gap NOUN fbem-28258 104 33 between between ADP fbem-28258 104 34 internal internal ADJ fbem-28258 104 35 and and CCONJ fbem-28258 104 36 external external ADJ fbem-28258 104 37 organizations organization NOUN fbem-28258 104 38 and and CCONJ fbem-28258 104 39 improving improve VERB fbem-28258 104 40 the the DET fbem-28258 104 41 level level NOUN fbem-28258 104 42 of of ADP fbem-28258 104 43 corporate corporate ADJ fbem-28258 104 44 governance governance NOUN fbem-28258 104 45 . . PUNCT fbem-28258 105 1 this this PRON fbem-28258 105 2 not not PART fbem-28258 105 3 only only ADV fbem-28258 105 4 encourages encourage VERB fbem-28258 105 5 the the DET fbem-28258 105 6 government government NOUN fbem-28258 105 7 to to PART fbem-28258 105 8 use use VERB fbem-28258 105 9 tax tax NOUN fbem-28258 105 10 policies policy NOUN fbem-28258 105 11 to to PART fbem-28258 105 12 control control VERB fbem-28258 105 13 income income NOUN fbem-28258 105 14 distribution distribution NOUN fbem-28258 105 15 , , PUNCT fbem-28258 105 16 but but CCONJ fbem-28258 105 17 also also ADV fbem-28258 105 18 attaches attach VERB fbem-28258 105 19 great great ADJ fbem-28258 105 20 importance importance NOUN fbem-28258 105 21 to to ADP fbem-28258 105 22 the the DET fbem-28258 105 23 effectiveness effectiveness NOUN fbem-28258 105 24 of of ADP fbem-28258 105 25 indirect indirect ADJ fbem-28258 105 26 tax tax NOUN fbem-28258 105 27 policies policy NOUN fbem-28258 105 28 in in ADP fbem-28258 105 29 governance governance NOUN fbem-28258 105 30 , , PUNCT fbem-28258 105 31 which which PRON fbem-28258 105 32 is be AUX fbem-28258 105 33 conducive conducive ADJ fbem-28258 105 34 to to ADP fbem-28258 105 35 the the DET fbem-28258 105 36 continuous continuous ADJ fbem-28258 105 37 deepening deepening NOUN fbem-28258 105 38 and and CCONJ fbem-28258 105 39 development development NOUN fbem-28258 105 40 of of ADP fbem-28258 105 41 modern modern ADJ fbem-28258 105 42 tax tax NOUN fbem-28258 105 43 mechanisms mechanism NOUN fbem-28258 105 44 . . PUNCT fbem-28258 106 1 5.2 5.2 NUM fbem-28258 106 2 . . PUNCT fbem-28258 106 3 promote promote VERB fbem-28258 106 4 the the DET fbem-28258 106 5 construction construction NOUN fbem-28258 106 6 of of ADP fbem-28258 106 7 intelligent intelligent ADJ fbem-28258 106 8 taxation taxation NOUN fbem-28258 106 9 in in ADP fbem-28258 106 10 china china PROPN fbem-28258 106 11 a a DET fbem-28258 106 12 good good ADJ fbem-28258 106 13 tax tax NOUN fbem-28258 106 14 environment environment NOUN fbem-28258 106 15 could could AUX fbem-28258 106 16 more more ADV fbem-28258 106 17 effectively effectively ADV fbem-28258 106 18 encourage encourage VERB fbem-28258 106 19 enterprises enterprise NOUN fbem-28258 106 20 to to PART fbem-28258 106 21 innovate innovate VERB fbem-28258 106 22 and and CCONJ fbem-28258 106 23 improve improve VERB fbem-28258 106 24 their their PRON fbem-28258 106 25 business business NOUN fbem-28258 106 26 capacity capacity NOUN fbem-28258 106 27 . . PUNCT fbem-28258 107 1 the the DET fbem-28258 107 2 government government NOUN fbem-28258 107 3 needs need VERB fbem-28258 107 4 to to PART fbem-28258 107 5 accelerate accelerate VERB fbem-28258 107 6 the the DET fbem-28258 107 7 establishment establishment NOUN fbem-28258 107 8 of of ADP fbem-28258 107 9 a a DET fbem-28258 107 10 smart smart ADJ fbem-28258 107 11 tax tax NOUN fbem-28258 107 12 system system NOUN fbem-28258 107 13 to to PART fbem-28258 107 14 enhance enhance VERB fbem-28258 107 15 the the DET fbem-28258 107 16 country country NOUN fbem-28258 107 17 's 's PART fbem-28258 107 18 modern modern ADJ fbem-28258 107 19 management management NOUN fbem-28258 107 20 capacity capacity NOUN fbem-28258 107 21 . . PUNCT fbem-28258 108 1 the the DET fbem-28258 108 2 improvement improvement NOUN fbem-28258 108 3 of of ADP fbem-28258 108 4 intelligent intelligent ADJ fbem-28258 108 5 tax tax NOUN fbem-28258 108 6 governance governance NOUN fbem-28258 108 7 system system NOUN fbem-28258 108 8 plays play VERB fbem-28258 108 9 a a DET fbem-28258 108 10 good good ADJ fbem-28258 108 11 governance governance NOUN fbem-28258 108 12 role role NOUN fbem-28258 108 13 in in ADP fbem-28258 108 14 the the DET fbem-28258 108 15 construction construction NOUN fbem-28258 108 16 of of ADP fbem-28258 108 17 macro macro ADJ fbem-28258 108 18 tax tax NOUN fbem-28258 108 19 system system NOUN fbem-28258 108 20 and and CCONJ fbem-28258 108 21 micro micro ADJ fbem-28258 108 22 enterprise enterprise NOUN fbem-28258 108 23 governance governance NOUN fbem-28258 108 24 . . PUNCT fbem-28258 109 1 5.3 5.3 NUM fbem-28258 109 2 . . PUNCT fbem-28258 109 3 improve improve VERB fbem-28258 109 4 internal internal ADJ fbem-28258 109 5 and and CCONJ fbem-28258 109 6 external external ADJ fbem-28258 109 7 governance governance NOUN fbem-28258 109 8 mechanisms mechanism NOUN fbem-28258 109 9 one one NUM fbem-28258 109 10 incentive incentive NOUN fbem-28258 109 11 of of ADP fbem-28258 109 12 earnings earning NOUN fbem-28258 109 13 management management NOUN fbem-28258 109 14 behavior behavior NOUN fbem-28258 109 15 is be AUX fbem-28258 109 16 the the DET fbem-28258 109 17 high high ADJ fbem-28258 109 18 degree degree NOUN fbem-28258 109 19 of of ADP fbem-28258 109 20 information information NOUN fbem-28258 109 21 asymmetry asymmetry NOUN fbem-28258 109 22 inside inside ADP fbem-28258 109 23 and and CCONJ fbem-28258 109 24 outside outside ADP fbem-28258 109 25 the the DET fbem-28258 109 26 enterprise enterprise NOUN fbem-28258 109 27 . . PUNCT fbem-28258 110 1 only only ADV fbem-28258 110 2 by by ADP fbem-28258 110 3 improving improve VERB fbem-28258 110 4 the the DET fbem-28258 110 5 construction construction NOUN fbem-28258 110 6 of of ADP fbem-28258 110 7 corporate corporate ADJ fbem-28258 110 8 governance governance NOUN fbem-28258 110 9 mechanism mechanism NOUN fbem-28258 110 10 , , PUNCT fbem-28258 110 11 and and CCONJ fbem-28258 110 12 introducing introduce VERB fbem-28258 110 13 and and CCONJ fbem-28258 110 14 perfecting perfect VERB fbem-28258 110 15 external external ADJ fbem-28258 110 16 supervision supervision NOUN fbem-28258 110 17 mechanism mechanism NOUN fbem-28258 110 18 in in ADP fbem-28258 110 19 a a DET fbem-28258 110 20 timely timely ADJ fbem-28258 110 21 manner manner NOUN fbem-28258 110 22 , , PUNCT fbem-28258 110 23 can can AUX fbem-28258 110 24 the the DET fbem-28258 110 25 degree degree NOUN fbem-28258 110 26 of of ADP fbem-28258 110 27 information information NOUN fbem-28258 110 28 asymmetry asymmetry NOUN fbem-28258 110 29 in in ADP fbem-28258 110 30 the the DET fbem-28258 110 31 capital capital NOUN fbem-28258 110 32 market market NOUN fbem-28258 110 33 be be AUX fbem-28258 110 34 alleviated alleviate VERB fbem-28258 110 35 , , PUNCT fbem-28258 110 36 and and CCONJ fbem-28258 110 37 then then ADV fbem-28258 110 38 promote promote VERB fbem-28258 110 39 enterprises enterprise NOUN fbem-28258 110 40 to to PART fbem-28258 110 41 achieve achieve VERB fbem-28258 110 42 highquality highquality NOUN fbem-28258 110 43 development development NOUN fbem-28258 110 44 . . PUNCT fbem-28258 111 1 tax tax NOUN fbem-28258 111 2 collection collection NOUN fbem-28258 111 3 and and CCONJ fbem-28258 111 4 administration administration NOUN fbem-28258 111 5 from from ADP fbem-28258 111 6 the the DET fbem-28258 111 7 perspective perspective NOUN fbem-28258 111 8 of of ADP fbem-28258 111 9 digital digital ADJ fbem-28258 111 10 economy economy NOUN fbem-28258 111 11 can can AUX fbem-28258 111 12 supervise supervise VERB fbem-28258 111 13 and and CCONJ fbem-28258 111 14 manage manage VERB fbem-28258 111 15 enterprise enterprise NOUN fbem-28258 111 16 data datum NOUN fbem-28258 111 17 information information NOUN fbem-28258 111 18 more more ADV fbem-28258 111 19 efficiently efficiently ADV fbem-28258 111 20 , , PUNCT fbem-28258 111 21 and and CCONJ fbem-28258 111 22 can can AUX fbem-28258 111 23 timely timely ADV fbem-28258 111 24 discover discover VERB fbem-28258 111 25 the the DET fbem-28258 111 26 earnings earning NOUN fbem-28258 111 27 motivation motivation NOUN fbem-28258 111 28 of of ADP fbem-28258 111 29 management management NOUN fbem-28258 111 30 . . PUNCT fbem-28258 112 1 references reference NOUN fbem-28258 112 2 [ [ X fbem-28258 112 3 1 1 NUM fbem-28258 112 4 ] ] PUNCT fbem-28258 112 5 hanlon hanlon NOUN fbem-28258 112 6 , , PUNCT fbem-28258 112 7 m. m. NOUN fbem-28258 112 8 , , PUNCT fbem-28258 112 9 hoopes hoopes PROPN fbem-28258 112 10 , , PUNCT fbem-28258 112 11 j. j. PROPN fbem-28258 112 12 l. l. PROPN fbem-28258 112 13 , , PUNCT fbem-28258 112 14 shroff shroff PROPN fbem-28258 112 15 , , PUNCT fbem-28258 112 16 n. n. PROPN fbem-28258 112 17 ( ( PUNCT fbem-28258 112 18 2014 2014 NUM fbem-28258 112 19 ) ) PUNCT fbem-28258 112 20 the the DET fbem-28258 112 21 effect effect NOUN fbem-28258 112 22 of of ADP fbem-28258 112 23 tax tax NOUN fbem-28258 112 24 authority authority NOUN fbem-28258 112 25 monitoring monitoring NOUN fbem-28258 112 26 and and CCONJ fbem-28258 112 27 enforcement enforcement NOUN fbem-28258 112 28 on on ADP fbem-28258 112 29 financial financial ADJ fbem-28258 112 30 reporting reporting NOUN fbem-28258 112 31 quality quality NOUN fbem-28258 112 32 . . PUNCT fbem-28258 113 1 the the DET fbem-28258 113 2 journal journal NOUN fbem-28258 113 3 of of ADP fbem-28258 113 4 the the DET fbem-28258 113 5 american american PROPN fbem-28258 113 6 taxation taxation PROPN fbem-28258 113 7 association association PROPN fbem-28258 113 8 , , PUNCT fbem-28258 113 9 36(2 36(2 NUM fbem-28258 113 10 ): ): PUNCT fbem-28258 113 11 137 137 NUM fbem-28258 113 12 - - SYM fbem-28258 113 13 170 170 NUM fbem-28258 113 14 . . PUNCT fbem-28258 114 1 [ [ X fbem-28258 114 2 2 2 NUM fbem-28258 114 3 ] ] X fbem-28258 114 4 bird bird NOUN fbem-28258 114 5 , , PUNCT fbem-28258 114 6 r. r. PROPN fbem-28258 114 7 m. m. PROPN fbem-28258 114 8 , , PUNCT fbem-28258 114 9 zolt zolt PROPN fbem-28258 114 10 , , PUNCT fbem-28258 114 11 e. e. PROPN fbem-28258 114 12 m. m. PROPN fbem-28258 114 13 ( ( PUNCT fbem-28258 114 14 2008 2008 NUM fbem-28258 114 15 ) ) PUNCT fbem-28258 114 16 technology technology NOUN fbem-28258 114 17 and and CCONJ fbem-28258 114 18 taxation taxation NOUN fbem-28258 114 19 in in ADP fbem-28258 114 20 developing develop VERB fbem-28258 114 21 countries country NOUN fbem-28258 114 22 : : PUNCT fbem-28258 114 23 from from ADP fbem-28258 114 24 hand hand NOUN fbem-28258 114 25 to to PART fbem-28258 114 26 mouse mouse VERB fbem-28258 114 27 . . PUNCT fbem-28258 115 1 national national ADJ fbem-28258 115 2 tax tax PROPN fbem-28258 115 3 journal journal PROPN fbem-28258 115 4 , , PUNCT fbem-28258 115 5 61(4 61(4 NUM fbem-28258 115 6 ): ): PUNCT fbem-28258 115 7 791 791 NUM fbem-28258 115 8 - - SYM fbem-28258 115 9 821 821 NUM fbem-28258 115 10 . . PUNCT fbem-28258 116 1 [ [ X fbem-28258 116 2 3 3 NUM fbem-28258 116 3 ] ] X fbem-28258 116 4 tang tang PROPN fbem-28258 116 5 , , PUNCT fbem-28258 116 6 b. b. PROPN fbem-28258 116 7 , , PUNCT fbem-28258 116 8 zhang zhang PROPN fbem-28258 116 9 , , PUNCT fbem-28258 116 10 l.f l.f PROPN fbem-28258 116 11 . . PROPN fbem-28258 116 12 ( ( PUNCT fbem-28258 116 13 2019 2019 NUM fbem-28258 116 14 ) ) PUNCT fbem-28258 116 15 a a DET fbem-28258 116 16 research research NOUN fbem-28258 116 17 on on ADP fbem-28258 116 18 the the DET fbem-28258 116 19 impacts impact NOUN fbem-28258 116 20 of of ADP fbem-28258 116 21 tax tax NOUN fbem-28258 116 22 informatization informatization NOUN fbem-28258 116 23 on on ADP fbem-28258 116 24 corporate corporate ADJ fbem-28258 116 25 tax tax NOUN fbem-28258 116 26 compliance compliance NOUN fbem-28258 116 27 . . PUNCT fbem-28258 117 1 j. j. PROPN fbem-28258 117 2 taxation taxation PROPN fbem-28258 117 3 research research PROPN fbem-28258 117 4 , , PUNCT fbem-28258 117 5 07.013 07.013 NUM fbem-28258 117 6 . . PUNCT fbem-28258 118 1 [ [ X fbem-28258 118 2 4 4 NUM fbem-28258 118 3 ] ] SYM fbem-28258 118 4 li li PROPN fbem-28258 118 5 , , PUNCT fbem-28258 118 6 z.f z.f PROPN fbem-28258 118 7 . . PROPN fbem-28258 118 8 , , PUNCT fbem-28258 118 9 zhu zhu PROPN fbem-28258 118 10 , , PUNCT fbem-28258 118 11 j. j. PROPN fbem-28258 118 12 ( ( PUNCT fbem-28258 118 13 2022 2022 NUM fbem-28258 118 14 ) ) PUNCT fbem-28258 118 15 the the DET fbem-28258 118 16 impact impact NOUN fbem-28258 118 17 of of ADP fbem-28258 118 18 golden golden ADJ fbem-28258 118 19 tax tax NOUN fbem-28258 118 20 - - PUNCT fbem-28258 118 21 iii iii NUM fbem-28258 118 22 tax tax NOUN fbem-28258 118 23 collection collection NOUN fbem-28258 118 24 and and CCONJ fbem-28258 118 25 management management NOUN fbem-28258 118 26 on on ADP fbem-28258 118 27 the the DET fbem-28258 118 28 audit audit NOUN fbem-28258 118 29 fees fee NOUN fbem-28258 118 30 of of ADP fbem-28258 118 31 listed list VERB fbem-28258 118 32 companies company NOUN fbem-28258 118 33 . . PUNCT fbem-28258 119 1 j. j. PROPN fbem-28258 119 2 foreign foreign PROPN fbem-28258 119 3 economics economics PROPN fbem-28258 119 4 & & CCONJ fbem-28258 119 5 management management PROPN fbem-28258 119 6 , , PUNCT fbem-28258 119 7 44(01):105 44(01):105 PROPN fbem-28258 119 8 - - PUNCT fbem-28258 119 9 118 118 NUM fbem-28258 119 10 . . PUNCT fbem-28258 120 1 [ [ X fbem-28258 120 2 5 5 NUM fbem-28258 120 3 ] ] X fbem-28258 120 4 watts watts PROPN fbem-28258 120 5 , , PUNCT fbem-28258 120 6 r. r. PROPN fbem-28258 120 7 l. l. PROPN fbem-28258 120 8 , , PUNCT fbem-28258 120 9 zimmerman zimmerman PROPN fbem-28258 120 10 , , PUNCT fbem-28258 120 11 j. j. PROPN fbem-28258 120 12 l. l. PROPN fbem-28258 120 13 ( ( PUNCT fbem-28258 120 14 1990 1990 NUM fbem-28258 120 15 ) ) PUNCT fbem-28258 120 16 positive positive ADJ fbem-28258 120 17 accounting accounting NOUN fbem-28258 120 18 theory theory NOUN fbem-28258 120 19 . . PUNCT fbem-28258 121 1 prentice prentice PROPN fbem-28258 121 2 hall hall PROPN fbem-28258 121 3 , , PUNCT fbem-28258 121 4 beijing beijing PROPN fbem-28258 121 5 . . PUNCT fbem-28258 122 1 [ [ X fbem-28258 122 2 6 6 NUM fbem-28258 122 3 ] ] X fbem-28258 122 4 chen chen PROPN fbem-28258 122 5 , , PUNCT fbem-28258 122 6 k. k. PROPN fbem-28258 122 7 j. j. PROPN fbem-28258 122 8 ( ( PUNCT fbem-28258 122 9 2017 2017 NUM fbem-28258 122 10 ) ) PUNCT fbem-28258 122 11 media medium NOUN fbem-28258 122 12 supervision supervision NOUN fbem-28258 122 13 , , PUNCT fbem-28258 122 14 rule rule NOUN fbem-28258 122 15 of of ADP fbem-28258 122 16 law law NOUN fbem-28258 122 17 and and CCONJ fbem-28258 122 18 earnings earning NOUN fbem-28258 122 19 management management NOUN fbem-28258 122 20 of of ADP fbem-28258 122 21 listed list VERB fbem-28258 122 22 companies company NOUN fbem-28258 122 23 . . PUNCT fbem-28258 123 1 j. j. PROPN fbem-28258 123 2 management management PROPN fbem-28258 123 3 review review PROPN fbem-28258 123 4 , , PUNCT fbem-28258 123 5 29(07):3 29(07):3 PROPN fbem-28258 123 6 - - SYM fbem-28258 123 7 18 18 NUM fbem-28258 123 8 . . PUNCT fbem-28258 124 1 [ [ X fbem-28258 124 2 7 7 NUM fbem-28258 124 3 ] ] X fbem-28258 124 4 fang fang X fbem-28258 124 5 , , PUNCT fbem-28258 124 6 h. h. PROPN fbem-28258 124 7 x. x. PROPN fbem-28258 124 8 , , PUNCT fbem-28258 124 9 liu liu PROPN fbem-28258 124 10 , , PUNCT fbem-28258 124 11 s. s. PROPN fbem-28258 124 12 h. h. PROPN fbem-28258 124 13 ( ( PUNCT fbem-28258 124 14 2017 2017 NUM fbem-28258 124 15 ) ) PUNCT fbem-28258 124 16 earnings earning NOUN fbem-28258 124 17 management management NOUN fbem-28258 124 18 and and CCONJ fbem-28258 124 19 corporate corporate ADJ fbem-28258 124 20 debt debt NOUN fbem-28258 124 21 maturity maturity NOUN fbem-28258 124 22 . . PUNCT fbem-28258 125 1 j. j. PROPN fbem-28258 125 2 research research PROPN fbem-28258 125 3 on on ADP fbem-28258 125 4 financial financial ADJ fbem-28258 125 5 and and CCONJ fbem-28258 125 6 economic economic ADJ fbem-28258 125 7 issues issue NOUN fbem-28258 125 8 , , PUNCT fbem-28258 125 9 ( ( PUNCT fbem-28258 125 10 05):57 05):57 NOUN fbem-28258 125 11 - - SYM fbem-28258 125 12 64 64 NUM fbem-28258 125 13 . . PUNCT fbem-28258 126 1 [ [ X fbem-28258 126 2 8 8 NUM fbem-28258 126 3 ] ] X fbem-28258 126 4 roychowdhury roychowdhury NOUN fbem-28258 126 5 , , PUNCT fbem-28258 126 6 s. s. PROPN fbem-28258 126 7 ( ( PUNCT fbem-28258 126 8 2006 2006 NUM fbem-28258 126 9 ) ) PUNCT fbem-28258 126 10 earnings earning NOUN fbem-28258 126 11 management management NOUN fbem-28258 126 12 through through ADP fbem-28258 126 13 real real ADJ fbem-28258 126 14 activities activity NOUN fbem-28258 126 15 manipulation manipulation NOUN fbem-28258 126 16 . . PUNCT fbem-28258 127 1 journal journal NOUN fbem-28258 127 2 of of ADP fbem-28258 127 3 accounting accounting NOUN fbem-28258 127 4 and and CCONJ fbem-28258 127 5 economics economic NOUN fbem-28258 127 6 , , PUNCT fbem-28258 127 7 42(3 42(3 NUM fbem-28258 127 8 ) ) PUNCT fbem-28258 127 9 . . PUNCT fbem-28258 128 1 [ [ X fbem-28258 128 2 9 9 NUM fbem-28258 128 3 ] ] X fbem-28258 128 4 liu liu PROPN fbem-28258 128 5 , , PUNCT fbem-28258 128 6 x. x. PROPN fbem-28258 128 7 , , PUNCT fbem-28258 128 8 ye ye PRON fbem-28258 128 9 , , PUNCT fbem-28258 128 10 k. k. PROPN fbem-28258 128 11 t. t. PROPN fbem-28258 128 12 ( ( PUNCT fbem-28258 128 13 2013 2013 NUM fbem-28258 128 14 ) ) PUNCT fbem-28258 128 15 does do AUX fbem-28258 128 16 corporate corporate ADJ fbem-28258 128 17 tax tax NOUN fbem-28258 128 18 avoidance avoidance NOUN fbem-28258 128 19 affect affect VERB fbem-28258 128 20 investment investment NOUN fbem-28258 128 21 efficiency efficiency NOUN fbem-28258 128 22 . . PUNCT fbem-28258 129 1 j. j. PROPN fbem-28258 129 2 accounting accounting PROPN fbem-28258 129 3 research research PROPN fbem-28258 129 4 , , PUNCT fbem-28258 129 5 ( ( PUNCT fbem-28258 129 6 06):4753 06):4753 NUM fbem-28258 129 7 + + NOUN fbem-28258 129 8 96 96 NUM fbem-28258 129 9 . . PUNCT fbem-28258 130 1 [ [ X fbem-28258 130 2 10 10 NUM fbem-28258 130 3 ] ] X fbem-28258 130 4 ye ye PROPN fbem-28258 130 5 , , PUNCT fbem-28258 130 6 k.t k.t PROPN fbem-28258 130 7 . . PROPN fbem-28258 130 8 , , PUNCT fbem-28258 130 9 dong dong PROPN fbem-28258 130 10 , , PUNCT fbem-28258 130 11 x. x. PROPN fbem-28258 130 12 y. y. PROPN fbem-28258 130 13 , , PUNCT fbem-28258 130 14 cui cui PROPN fbem-28258 130 15 , , PUNCT fbem-28258 130 16 y. y. PROPN fbem-28258 130 17 q. q. PROPN fbem-28258 130 18 ( ( PUNCT fbem-28258 130 19 2015 2015 NUM fbem-28258 130 20 ) ) PUNCT fbem-28258 130 21 deviant deviant ADJ fbem-28258 130 22 strategy strategy NOUN fbem-28258 130 23 and and CCONJ fbem-28258 130 24 the the DET fbem-28258 130 25 choice choice NOUN fbem-28258 130 26 of of ADP fbem-28258 130 27 earnings earning NOUN fbem-28258 130 28 management management NOUN fbem-28258 130 29 methods method NOUN fbem-28258 130 30 . . PUNCT fbem-28258 131 1 j. j. PROPN fbem-28258 131 2 accounting accounting PROPN fbem-28258 131 3 research research PROPN fbem-28258 131 4 , , PUNCT fbem-28258 131 5 ( ( PUNCT fbem-28258 131 6 10):23 10):23 NUM fbem-28258 131 7 - - SYM fbem-28258 131 8 29 29 NUM fbem-28258 131 9 + + NOUN fbem-28258 131 10 96 96 NUM fbem-28258 131 11 . . PUNCT