id	sid	tid	token	lemma	pos
fbem-29336	1	1	frontiers	frontier	NOUN
fbem-29336	1	2	in	in	ADP
fbem-29336	1	3	business	business	NOUN
fbem-29336	1	4	,	,	PUNCT
fbem-29336	1	5	economics	economic	NOUN
fbem-29336	1	6	and	and	CCONJ
fbem-29336	1	7	management	management	NOUN
fbem-29336	1	8	issn	issn	PROPN
fbem-29336	1	9	:	:	PUNCT
fbem-29336	1	10	2766	2766	NUM
fbem-29336	1	11	-	-	PUNCT
fbem-29336	1	12	824x	824x	NUM
fbem-29336	1	13	|	|	ADJ
fbem-29336	1	14	vol	vol	NOUN
fbem-29336	1	15	.	.	PROPN
fbem-29336	1	16	18	18	NUM
fbem-29336	1	17	,	,	PUNCT
fbem-29336	1	18	no	no	INTJ
fbem-29336	1	19	.	.	NOUN
fbem-29336	1	20	1	1	NUM
fbem-29336	1	21	,	,	PUNCT
fbem-29336	1	22	2025	2025	NUM
fbem-29336	1	23	190	190	NUM
fbem-29336	1	24	the	the	DET
fbem-29336	1	25	impact	impact	NOUN
fbem-29336	1	26	of	of	ADP
fbem-29336	1	27	fintech	fintech	NOUN
fbem-29336	1	28	on	on	ADP
fbem-29336	1	29	financing	financing	NOUN
fbem-29336	1	30	constraints	constraint	NOUN
fbem-29336	1	31	of	of	ADP
fbem-29336	1	32	technology	technology	NOUN
fbem-29336	1	33	smes	sme	NOUN
fbem-29336	1	34	wenyi	wenyi	PROPN
fbem-29336	1	35	zhang	zhang	PROPN
fbem-29336	1	36	*	*	PUNCT
fbem-29336	1	37	school	school	NOUN
fbem-29336	1	38	of	of	ADP
fbem-29336	1	39	finance	finance	NOUN
fbem-29336	1	40	and	and	CCONJ
fbem-29336	1	41	investment	investment	NOUN
fbem-29336	1	42	,	,	PUNCT
fbem-29336	1	43	guangdong	guangdong	PROPN
fbem-29336	1	44	university	university	PROPN
fbem-29336	1	45	of	of	ADP
fbem-29336	1	46	finance	finance	PROPN
fbem-29336	1	47	,	,	PUNCT
fbem-29336	1	48	guangzhou	guangzhou	PROPN
fbem-29336	1	49	,	,	PUNCT
fbem-29336	1	50	guangdong	guangdong	PROPN
fbem-29336	1	51	,	,	PUNCT
fbem-29336	1	52	510521	510521	NUM
fbem-29336	1	53	,	,	PUNCT
fbem-29336	1	54	china	china	PROPN
fbem-29336	1	55	*	*	PUNCT
fbem-29336	1	56	corresponding	correspond	VERB
fbem-29336	1	57	author	author	NOUN
fbem-29336	1	58	:	:	PUNCT
fbem-29336	1	59	wenyi	wenyi	PROPN
fbem-29336	1	60	zhang	zhang	PROPN
fbem-29336	1	61	(	(	PUNCT
fbem-29336	1	62	email	email	NOUN
fbem-29336	1	63	:	:	PUNCT
fbem-29336	1	64	zwy20040229@outlook.com	zwy20040229@outlook.com	X
fbem-29336	1	65	)	)	PUNCT
fbem-29336	1	66	abstract	abstract	NOUN
fbem-29336	1	67	:	:	PUNCT
fbem-29336	1	68	the	the	DET
fbem-29336	1	69	advent	advent	NOUN
fbem-29336	1	70	of	of	ADP
fbem-29336	1	71	financial	financial	ADJ
fbem-29336	1	72	technology	technology	NOUN
fbem-29336	1	73	(	(	PUNCT
fbem-29336	1	74	fintech	fintech	NOUN
fbem-29336	1	75	)	)	PUNCT
fbem-29336	1	76	has	have	AUX
fbem-29336	1	77	prompted	prompt	VERB
fbem-29336	1	78	considerable	considerable	ADJ
fbem-29336	1	79	interest	interest	NOUN
fbem-29336	1	80	in	in	ADP
fbem-29336	1	81	its	its	PRON
fbem-29336	1	82	potential	potential	NOUN
fbem-29336	1	83	to	to	PART
fbem-29336	1	84	enhance	enhance	VERB
fbem-29336	1	85	the	the	DET
fbem-29336	1	86	financial	financial	ADJ
fbem-29336	1	87	landscape	landscape	NOUN
fbem-29336	1	88	for	for	ADP
fbem-29336	1	89	science	science	NOUN
fbem-29336	1	90	and	and	CCONJ
fbem-29336	1	91	technology	technology	NOUN
fbem-29336	1	92	small	small	ADJ
fbem-29336	1	93	and	and	CCONJ
fbem-29336	1	94	medium	medium	ADJ
fbem-29336	1	95	-	-	PUNCT
fbem-29336	1	96	sized	sized	ADJ
fbem-29336	1	97	enterprises	enterprise	NOUN
fbem-29336	1	98	(	(	PUNCT
fbem-29336	1	99	smes	sme	NOUN
fbem-29336	1	100	)	)	PUNCT
fbem-29336	1	101	.	.	PUNCT
fbem-29336	2	1	this	this	DET
fbem-29336	2	2	paper	paper	NOUN
fbem-29336	2	3	examines	examine	VERB
fbem-29336	2	4	the	the	DET
fbem-29336	2	5	role	role	NOUN
fbem-29336	2	6	of	of	ADP
fbem-29336	2	7	fintech	fintech	NOUN
fbem-29336	2	8	development	development	NOUN
fbem-29336	2	9	in	in	ADP
fbem-29336	2	10	the	the	DET
fbem-29336	2	11	financing	financing	NOUN
fbem-29336	2	12	constraints	constraint	NOUN
fbem-29336	2	13	of	of	ADP
fbem-29336	2	14	science	science	NOUN
fbem-29336	2	15	and	and	CCONJ
fbem-29336	2	16	technology	technology	NOUN
fbem-29336	2	17	smes	sme	NOUN
fbem-29336	2	18	,	,	PUNCT
fbem-29336	2	19	with	with	ADP
fbem-29336	2	20	a	a	DET
fbem-29336	2	21	particular	particular	ADJ
fbem-29336	2	22	focus	focus	NOUN
fbem-29336	2	23	on	on	ADP
fbem-29336	2	24	the	the	DET
fbem-29336	2	25	mediating	mediate	VERB
fbem-29336	2	26	mechanism	mechanism	NOUN
fbem-29336	2	27	of	of	ADP
fbem-29336	2	28	information	information	NOUN
fbem-29336	2	29	asymmetry	asymmetry	NOUN
fbem-29336	2	30	.	.	PUNCT
fbem-29336	3	1	the	the	DET
fbem-29336	3	2	research	research	NOUN
fbem-29336	3	3	objects	object	NOUN
fbem-29336	3	4	are	be	AUX
fbem-29336	3	5	the	the	DET
fbem-29336	3	6	strategic	strategic	ADJ
fbem-29336	3	7	emerging	emerge	VERB
fbem-29336	3	8	industry	industry	NOUN
fbem-29336	3	9	enterprises	enterprise	NOUN
fbem-29336	3	10	of	of	ADP
fbem-29336	3	11	the	the	DET
fbem-29336	3	12	science	science	NOUN
fbem-29336	3	13	and	and	CCONJ
fbem-29336	3	14	technology	technology	NOUN
fbem-29336	3	15	innovation	innovation	NOUN
fbem-29336	3	16	board	board	NOUN
fbem-29336	3	17	.	.	PUNCT
fbem-29336	4	1	the	the	DET
fbem-29336	4	2	fintech	fintech	NOUN
fbem-29336	4	3	index	index	NOUN
fbem-29336	4	4	is	be	AUX
fbem-29336	4	5	constructed	construct	VERB
fbem-29336	4	6	by	by	ADP
fbem-29336	4	7	logistic	logistic	ADJ
fbem-29336	4	8	regression	regression	NOUN
fbem-29336	4	9	,	,	PUNCT
fbem-29336	4	10	and	and	CCONJ
fbem-29336	4	11	the	the	DET
fbem-29336	4	12	double	double	ADJ
fbem-29336	4	13	fixed	fix	VERB
fbem-29336	4	14	effect	effect	NOUN
fbem-29336	4	15	model	model	NOUN
fbem-29336	4	16	is	be	AUX
fbem-29336	4	17	used	use	VERB
fbem-29336	4	18	for	for	ADP
fbem-29336	4	19	analysis	analysis	NOUN
fbem-29336	4	20	.	.	PUNCT
fbem-29336	5	1	the	the	DET
fbem-29336	5	2	findings	finding	NOUN
fbem-29336	5	3	of	of	ADP
fbem-29336	5	4	this	this	DET
fbem-29336	5	5	study	study	NOUN
fbem-29336	5	6	indicate	indicate	VERB
fbem-29336	5	7	that	that	SCONJ
fbem-29336	5	8	the	the	DET
fbem-29336	5	9	advancement	advancement	NOUN
fbem-29336	5	10	of	of	ADP
fbem-29336	5	11	fintech	fintech	NOUN
fbem-29336	5	12	has	have	AUX
fbem-29336	5	13	notably	notably	ADV
fbem-29336	5	14	alleviated	alleviate	VERB
fbem-29336	5	15	the	the	DET
fbem-29336	5	16	financial	financial	ADJ
fbem-29336	5	17	constr	constr	NOUN
fbem-29336	5	18	aints	aint	NOUN
fbem-29336	5	19	faced	face	VERB
fbem-29336	5	20	by	by	ADP
fbem-29336	5	21	science	science	NOUN
fbem-29336	5	22	and	and	CCONJ
fbem-29336	5	23	technology	technology	NOUN
fbem-29336	5	24	smes	sme	NOUN
fbem-29336	5	25	.	.	PUNCT
fbem-29336	6	1	further	further	ADJ
fbem-29336	6	2	examination	examination	NOUN
fbem-29336	6	3	revealed	reveal	VERB
fbem-29336	6	4	that	that	SCONJ
fbem-29336	6	5	fintech	fintech	NOUN
fbem-29336	6	6	has	have	AUX
fbem-29336	6	7	effectively	effectively	ADV
fbem-29336	6	8	served	serve	VERB
fbem-29336	6	9	as	as	ADP
fbem-29336	6	10	an	an	DET
fbem-29336	6	11	intermediary	intermediary	NOUN
fbem-29336	6	12	by	by	ADP
fbem-29336	6	13	reducing	reduce	VERB
fbem-29336	6	14	the	the	DET
fbem-29336	6	15	extent	extent	NOUN
fbem-29336	6	16	of	of	ADP
fbem-29336	6	17	information	information	NOUN
fbem-29336	6	18	asymmetry	asymmetry	NOUN
fbem-29336	6	19	,	,	PUNCT
fbem-29336	6	20	thereby	thereby	ADV
fbem-29336	6	21	mitigating	mitigate	VERB
fbem-29336	6	22	the	the	DET
fbem-29336	6	23	financing	financing	NOUN
fbem-29336	6	24	challenges	challenge	NOUN
fbem-29336	6	25	faced	face	VERB
fbem-29336	6	26	by	by	ADP
fbem-29336	6	27	these	these	DET
fbem-29336	6	28	enterprises	enterprise	NOUN
fbem-29336	6	29	.	.	PUNCT
fbem-29336	7	1	this	this	DET
fbem-29336	7	2	study	study	NOUN
fbem-29336	7	3	offers	offer	VERB
fbem-29336	7	4	a	a	DET
fbem-29336	7	5	novel	novel	ADJ
fbem-29336	7	6	perspective	perspective	NOUN
fbem-29336	7	7	and	and	CCONJ
fbem-29336	7	8	empirical	empirical	ADJ
fbem-29336	7	9	foundation	foundation	NOUN
fbem-29336	7	10	for	for	ADP
fbem-29336	7	11	understanding	understand	VERB
fbem-29336	7	12	the	the	DET
fbem-29336	7	13	role	role	NOUN
fbem-29336	7	14	of	of	ADP
fbem-29336	7	15	fintech	fintech	NOUN
fbem-29336	7	16	in	in	ADP
fbem-29336	7	17	promoting	promote	VERB
fbem-29336	7	18	the	the	DET
fbem-29336	7	19	growth	growth	NOUN
fbem-29336	7	20	of	of	ADP
fbem-29336	7	21	science	science	NOUN
fbem-29336	7	22	and	and	CCONJ
fbem-29336	7	23	technology	technology	NOUN
fbem-29336	7	24	smes	sme	NOUN
fbem-29336	7	25	,	,	PUNCT
fbem-29336	7	26	and	and	CCONJ
fbem-29336	7	27	it	it	PRON
fbem-29336	7	28	also	also	ADV
fbem-29336	7	29	provides	provide	VERB
fbem-29336	7	30	valuable	valuable	ADJ
fbem-29336	7	31	insights	insight	NOUN
fbem-29336	7	32	for	for	ADP
fbem-29336	7	33	the	the	DET
fbem-29336	7	34	development	development	NOUN
fbem-29336	7	35	of	of	ADP
fbem-29336	7	36	relevant	relevant	ADJ
fbem-29336	7	37	policies	policy	NOUN
fbem-29336	7	38	and	and	CCONJ
fbem-29336	7	39	financial	financial	ADJ
fbem-29336	7	40	innovation	innovation	NOUN
fbem-29336	7	41	practices	practice	NOUN
fbem-29336	7	42	.	.	PUNCT
fbem-29336	8	1	keywords	keyword	NOUN
fbem-29336	8	2	:	:	PUNCT
fbem-29336	8	3	fintech	fintech	NOUN
fbem-29336	8	4	,	,	PUNCT
fbem-29336	8	5	technology	technology	NOUN
fbem-29336	8	6	smes	sme	NOUN
fbem-29336	8	7	,	,	PUNCT
fbem-29336	8	8	financing	financing	NOUN
fbem-29336	8	9	constraints	constraint	NOUN
fbem-29336	8	10	,	,	PUNCT
fbem-29336	8	11	information	information	NOUN
fbem-29336	8	12	asymmetry	asymmetry	NOUN
fbem-29336	8	13	.	.	PUNCT
fbem-29336	9	1	1	1	X
fbem-29336	9	2	.	.	X
fbem-29336	9	3	introduction	introduction	NOUN
fbem-29336	9	4	as	as	ADP
fbem-29336	9	5	a	a	DET
fbem-29336	9	6	platform	platform	NOUN
fbem-29336	9	7	dedicated	dedicate	VERB
fbem-29336	9	8	to	to	ADP
fbem-29336	9	9	the	the	DET
fbem-29336	9	10	advancement	advancement	NOUN
fbem-29336	9	11	of	of	ADP
fbem-29336	9	12	strategic	strategic	ADJ
fbem-29336	9	13	emerging	emerge	VERB
fbem-29336	9	14	industries	industry	NOUN
fbem-29336	9	15	,	,	PUNCT
fbem-29336	9	16	the	the	DET
fbem-29336	9	17	science	science	NOUN
fbem-29336	9	18	and	and	CCONJ
fbem-29336	9	19	technology	technology	NOUN
fbem-29336	9	20	innovation	innovation	NOUN
fbem-29336	9	21	board	board	NOUN
fbem-29336	9	22	is	be	AUX
fbem-29336	9	23	primarily	primarily	ADV
fbem-29336	9	24	engaged	engage	VERB
fbem-29336	9	25	in	in	ADP
fbem-29336	9	26	the	the	DET
fbem-29336	9	27	nurturing	nurturing	NOUN
fbem-29336	9	28	of	of	ADP
fbem-29336	9	29	high	high	ADJ
fbem-29336	9	30	-	-	PUNCT
fbem-29336	9	31	tech	tech	NOUN
fbem-29336	9	32	industries	industry	NOUN
fbem-29336	9	33	and	and	CCONJ
fbem-29336	9	34	strategic	strategic	ADJ
fbem-29336	9	35	emerging	emerge	VERB
fbem-29336	9	36	industries	industry	NOUN
fbem-29336	9	37	,	,	PUNCT
fbem-29336	9	38	which	which	PRON
fbem-29336	9	39	mirror	mirror	VERB
fbem-29336	9	40	the	the	DET
fbem-29336	9	41	latest	late	ADJ
fbem-29336	9	42	developments	development	NOUN
fbem-29336	9	43	in	in	ADP
fbem-29336	9	44	scientific	scientific	ADJ
fbem-29336	9	45	and	and	CCONJ
fbem-29336	9	46	technological	technological	ADJ
fbem-29336	9	47	evolution	evolution	NOUN
fbem-29336	9	48	and	and	CCONJ
fbem-29336	9	49	industrial	industrial	ADJ
fbem-29336	9	50	transformation	transformation	NOUN
fbem-29336	9	51	.	.	PUNCT
fbem-29336	10	1	the	the	DET
fbem-29336	10	2	companies	company	NOUN
fbem-29336	10	3	listed	list	VERB
fbem-29336	10	4	on	on	ADP
fbem-29336	10	5	the	the	DET
fbem-29336	10	6	science	science	NOUN
fbem-29336	10	7	and	and	CCONJ
fbem-29336	10	8	technology	technology	NOUN
fbem-29336	10	9	innovation	innovation	NOUN
fbem-29336	10	10	board	board	NOUN
fbem-29336	10	11	utilize	utilize	VERB
fbem-29336	10	12	innovation	innovation	NOUN
fbem-29336	10	13	as	as	ADP
fbem-29336	10	14	a	a	DET
fbem-29336	10	15	primary	primary	ADJ
fbem-29336	10	16	driving	driving	NOUN
fbem-29336	10	17	force	force	NOUN
fbem-29336	10	18	,	,	PUNCT
fbem-29336	10	19	relying	rely	VERB
fbem-29336	10	20	on	on	ADP
fbem-29336	10	21	their	their	PRON
fbem-29336	10	22	core	core	NOUN
fbem-29336	10	23	technologies	technology	NOUN
fbem-29336	10	24	to	to	PART
fbem-29336	10	25	facilitate	facilitate	VERB
fbem-29336	10	26	production	production	NOUN
fbem-29336	10	27	and	and	CCONJ
fbem-29336	10	28	operations	operation	NOUN
fbem-29336	10	29	.	.	PUNCT
fbem-29336	11	1	these	these	DET
fbem-29336	11	2	entities	entity	NOUN
fbem-29336	11	3	play	play	VERB
fbem-29336	11	4	a	a	DET
fbem-29336	11	5	pivotal	pivotal	ADJ
fbem-29336	11	6	role	role	NOUN
fbem-29336	11	7	in	in	ADP
fbem-29336	11	8	addressing	address	VERB
fbem-29336	11	9	the	the	DET
fbem-29336	11	10	country	country	NOUN
fbem-29336	11	11	's	's	PART
fbem-29336	11	12	significant	significant	ADJ
fbem-29336	11	13	strategic	strategic	ADJ
fbem-29336	11	14	needs	need	NOUN
fbem-29336	11	15	and	and	CCONJ
fbem-29336	11	16	in	in	ADP
fbem-29336	11	17	the	the	DET
fbem-29336	11	18	development	development	NOUN
fbem-29336	11	19	of	of	ADP
fbem-29336	11	20	a	a	DET
fbem-29336	11	21	modern	modern	ADJ
fbem-29336	11	22	industrial	industrial	ADJ
fbem-29336	11	23	system	system	NOUN
fbem-29336	11	24	.	.	PUNCT
fbem-29336	12	1	on	on	ADP
fbem-29336	12	2	january	january	PROPN
fbem-29336	12	3	12	12	NUM
fbem-29336	12	4	,	,	PUNCT
fbem-29336	12	5	2024	2024	NUM
fbem-29336	12	6	,	,	PUNCT
fbem-29336	12	7	the	the	DET
fbem-29336	12	8	state	state	NOUN
fbem-29336	12	9	financial	financial	ADJ
fbem-29336	12	10	supervision	supervision	NOUN
fbem-29336	12	11	and	and	CCONJ
fbem-29336	12	12	administration	administration	PROPN
fbem-29336	12	13	bureau	bureau	NOUN
fbem-29336	12	14	published	publish	VERB
fbem-29336	12	15	the	the	DET
fbem-29336	12	16	"	"	PUNCT
fbem-29336	12	17	notice	notice	NOUN
fbem-29336	12	18	on	on	ADP
fbem-29336	12	19	strengthening	strengthen	VERB
fbem-29336	12	20	financial	financial	ADJ
fbem-29336	12	21	services	service	NOUN
fbem-29336	12	22	for	for	ADP
fbem-29336	12	23	technology	technology	NOUN
fbem-29336	12	24	-	-	PUNCT
fbem-29336	12	25	based	base	VERB
fbem-29336	12	26	enterprises	enterprise	NOUN
fbem-29336	12	27	throughout	throughout	ADP
fbem-29336	12	28	their	their	PRON
fbem-29336	12	29	life	life	NOUN
fbem-29336	12	30	cycle	cycle	NOUN
fbem-29336	12	31	.	.	PUNCT
fbem-29336	12	32	"	"	PUNCT
fbem-29336	13	1	the	the	DET
fbem-29336	13	2	"	"	PUNCT
fbem-29336	13	3	notice	notice	NOUN
fbem-29336	13	4	"	"	PUNCT
fbem-29336	13	5	explicitly	explicitly	ADV
fbem-29336	13	6	indicates	indicate	VERB
fbem-29336	13	7	the	the	DET
fbem-29336	13	8	necessity	necessity	NOUN
fbem-29336	13	9	of	of	ADP
fbem-29336	13	10	robustly	robustly	ADV
fbem-29336	13	11	developing	develop	VERB
fbem-29336	13	12	science	science	NOUN
fbem-29336	13	13	and	and	CCONJ
fbem-29336	13	14	technology	technology	NOUN
fbem-29336	13	15	finance	finance	NOUN
fbem-29336	13	16	,	,	PUNCT
fbem-29336	13	17	promoting	promote	VERB
fbem-29336	13	18	the	the	DET
fbem-29336	13	19	banking	banking	NOUN
fbem-29336	13	20	and	and	CCONJ
fbem-29336	13	21	insurance	insurance	NOUN
fbem-29336	13	22	industries	industry	NOUN
fbem-29336	13	23	to	to	PART
fbem-29336	13	24	further	far	ADV
fbem-29336	13	25	reinforce	reinforce	VERB
fbem-29336	13	26	financial	financial	ADJ
fbem-29336	13	27	services	service	NOUN
fbem-29336	13	28	for	for	ADP
fbem-29336	13	29	technology	technology	NOUN
fbem-29336	13	30	-	-	PUNCT
fbem-29336	13	31	based	base	VERB
fbem-29336	13	32	enterprises	enterprise	NOUN
fbem-29336	13	33	throughout	throughout	ADP
fbem-29336	13	34	their	their	PRON
fbem-29336	13	35	life	life	NOUN
fbem-29336	13	36	cycle	cycle	NOUN
fbem-29336	13	37	,	,	PUNCT
fbem-29336	13	38	and	and	CCONJ
fbem-29336	13	39	supporting	support	VERB
fbem-29336	13	40	the	the	DET
fbem-29336	13	41	growth	growth	NOUN
fbem-29336	13	42	and	and	CCONJ
fbem-29336	13	43	development	development	NOUN
fbem-29336	13	44	of	of	ADP
fbem-29336	13	45	technology	technology	NOUN
fbem-29336	13	46	-	-	PUNCT
fbem-29336	13	47	based	base	VERB
fbem-29336	13	48	enterprises	enterprise	NOUN
fbem-29336	13	49	.	.	PUNCT
fbem-29336	14	1	by	by	ADP
fbem-29336	14	2	the	the	DET
fbem-29336	14	3	conclusion	conclusion	NOUN
fbem-29336	14	4	of	of	ADP
fbem-29336	14	5	2021	2021	NUM
fbem-29336	14	6	,	,	PUNCT
fbem-29336	14	7	technology	technology	NOUN
fbem-29336	14	8	-	-	PUNCT
fbem-29336	14	9	based	base	VERB
fbem-29336	14	10	enterprises	enterprise	NOUN
fbem-29336	14	11	had	have	AUX
fbem-29336	14	12	generated	generate	VERB
fbem-29336	14	13	over	over	ADP
fbem-29336	14	14	50	50	NUM
fbem-29336	14	15	%	%	NOUN
fbem-29336	14	16	of	of	ADP
fbem-29336	14	17	china	china	PROPN
fbem-29336	14	18	's	's	PART
fbem-29336	14	19	tax	tax	NOUN
fbem-29336	14	20	revenue	revenue	NOUN
fbem-29336	14	21	and	and	CCONJ
fbem-29336	14	22	were	be	AUX
fbem-29336	14	23	responsible	responsible	ADJ
fbem-29336	14	24	for	for	ADP
fbem-29336	14	25	over	over	ADP
fbem-29336	14	26	60	60	NUM
fbem-29336	14	27	%	%	NOUN
fbem-29336	14	28	of	of	ADP
fbem-29336	14	29	the	the	DET
fbem-29336	14	30	gross	gross	ADJ
fbem-29336	14	31	national	national	ADJ
fbem-29336	14	32	product	product	NOUN
fbem-29336	14	33	,	,	PUNCT
fbem-29336	14	34	fixed	fix	VERB
fbem-29336	14	35	asset	asset	NOUN
fbem-29336	14	36	investment	investment	NOUN
fbem-29336	14	37	,	,	PUNCT
fbem-29336	14	38	and	and	CCONJ
fbem-29336	14	39	outbound	outbound	NOUN
fbem-29336	14	40	investment	investment	NOUN
fbem-29336	14	41	.	.	PUNCT
fbem-29336	15	1	nevertheless	nevertheless	ADV
fbem-29336	15	2	,	,	PUNCT
fbem-29336	15	3	china	china	PROPN
fbem-29336	15	4	's	's	PART
fbem-29336	15	5	science	science	NOUN
fbem-29336	15	6	and	and	CCONJ
fbem-29336	15	7	technology	technology	NOUN
fbem-29336	15	8	smes	sme	NOUN
fbem-29336	15	9	exhibit	exhibit	VERB
fbem-29336	15	10	considerable	considerable	ADJ
fbem-29336	15	11	deficiencies	deficiency	NOUN
fbem-29336	15	12	in	in	ADP
fbem-29336	15	13	the	the	DET
fbem-29336	15	14	accumulation	accumulation	NOUN
fbem-29336	15	15	of	of	ADP
fbem-29336	15	16	endogenous	endogenous	ADJ
fbem-29336	15	17	funds	fund	NOUN
fbem-29336	15	18	and	and	CCONJ
fbem-29336	15	19	have	have	AUX
fbem-29336	15	20	demonstrated	demonstrate	VERB
fbem-29336	15	21	certain	certain	ADJ
fbem-29336	15	22	weaknesses	weakness	NOUN
fbem-29336	15	23	in	in	ADP
fbem-29336	15	24	the	the	DET
fbem-29336	15	25	utilization	utilization	NOUN
fbem-29336	15	26	of	of	ADP
fbem-29336	15	27	external	external	ADJ
fbem-29336	15	28	financing	financing	NOUN
fbem-29336	15	29	channels	channel	NOUN
fbem-29336	15	30	.	.	PUNCT
fbem-29336	16	1	this	this	DET
fbem-29336	16	2	dual	dual	ADJ
fbem-29336	16	3	disadvantage	disadvantage	NOUN
fbem-29336	16	4	has	have	AUX
fbem-29336	16	5	resulted	result	VERB
fbem-29336	16	6	in	in	ADP
fbem-29336	16	7	significant	significant	ADJ
fbem-29336	16	8	constraints	constraint	NOUN
fbem-29336	16	9	on	on	ADP
fbem-29336	16	10	their	their	PRON
fbem-29336	16	11	fundraising	fundraising	NOUN
fbem-29336	16	12	process	process	NOUN
fbem-29336	16	13	,	,	PUNCT
fbem-29336	16	14	which	which	PRON
fbem-29336	16	15	undoubtedly	undoubtedly	ADV
fbem-29336	16	16	impacts	impact	VERB
fbem-29336	16	17	their	their	PRON
fbem-29336	16	18	development	development	NOUN
fbem-29336	16	19	[	[	X
fbem-29336	16	20	1	1	NUM
fbem-29336	16	21	]	]	PUNCT
fbem-29336	16	22	.	.	PUNCT
fbem-29336	17	1	state	state	NOUN
fbem-29336	17	2	investment	investment	NOUN
fbem-29336	17	3	and	and	CCONJ
fbem-29336	17	4	bank	bank	NOUN
fbem-29336	17	5	credit	credit	NOUN
fbem-29336	17	6	represent	represent	VERB
fbem-29336	17	7	the	the	DET
fbem-29336	17	8	primary	primary	ADJ
fbem-29336	17	9	sources	source	NOUN
fbem-29336	17	10	of	of	ADP
fbem-29336	17	11	external	external	ADJ
fbem-29336	17	12	financing	financing	NOUN
fbem-29336	17	13	for	for	ADP
fbem-29336	17	14	enterprises	enterprise	NOUN
fbem-29336	17	15	.	.	PUNCT
fbem-29336	18	1	however	however	ADV
fbem-29336	18	2	,	,	PUNCT
fbem-29336	18	3	there	there	PRON
fbem-29336	18	4	is	be	VERB
fbem-29336	18	5	a	a	DET
fbem-29336	18	6	significant	significant	ADJ
fbem-29336	18	7	information	information	NOUN
fbem-29336	18	8	asymmetry	asymmetry	NOUN
fbem-29336	18	9	between	between	ADP
fbem-29336	18	10	technology	technology	NOUN
fbem-29336	18	11	smes	sme	NOUN
fbem-29336	18	12	and	and	CCONJ
fbem-29336	18	13	investors	investor	NOUN
fbem-29336	18	14	,	,	PUNCT
fbem-29336	18	15	which	which	PRON
fbem-29336	18	16	makes	make	VERB
fbem-29336	18	17	accurate	accurate	ADJ
fbem-29336	18	18	assessments	assessment	NOUN
fbem-29336	18	19	challenging	challenge	VERB
fbem-29336	18	20	,	,	PUNCT
fbem-29336	18	21	thus	thus	ADV
fbem-29336	18	22	affecting	affect	VERB
fbem-29336	18	23	bank	bank	NOUN
fbem-29336	18	24	credit	credit	NOUN
fbem-29336	18	25	[	[	X
fbem-29336	18	26	2	2	NUM
fbem-29336	18	27	]	]	PUNCT
fbem-29336	18	28	.	.	PUNCT
fbem-29336	19	1	the	the	DET
fbem-29336	19	2	accelerated	accelerate	VERB
fbem-29336	19	3	evolution	evolution	NOUN
fbem-29336	19	4	of	of	ADP
fbem-29336	19	5	fintech	fintech	NOUN
fbem-29336	19	6	has	have	AUX
fbem-29336	19	7	yielded	yield	VERB
fbem-29336	19	8	novel	novel	ADJ
fbem-29336	19	9	avenues	avenue	NOUN
fbem-29336	19	10	and	and	CCONJ
fbem-29336	19	11	strategies	strategy	NOUN
fbem-29336	19	12	for	for	ADP
fbem-29336	19	13	the	the	DET
fbem-29336	19	14	funding	funding	NOUN
fbem-29336	19	15	of	of	ADP
fbem-29336	19	16	technology	technology	NOUN
fbem-29336	19	17	-	-	PUNCT
fbem-29336	19	18	focused	focus	VERB
fbem-29336	19	19	small	small	ADJ
fbem-29336	19	20	and	and	CCONJ
fbem-29336	19	21	medium	medium	ADJ
fbem-29336	19	22	-	-	PUNCT
fbem-29336	19	23	sized	sized	ADJ
fbem-29336	19	24	enterprises	enterprise	NOUN
fbem-29336	19	25	(	(	PUNCT
fbem-29336	19	26	smes	sme	NOUN
fbem-29336	19	27	)	)	PUNCT
fbem-29336	19	28	.	.	PUNCT
fbem-29336	20	1	fintech	fintech	NOUN
fbem-29336	20	2	is	be	AUX
fbem-29336	20	3	the	the	DET
fbem-29336	20	4	application	application	NOUN
fbem-29336	20	5	of	of	ADP
fbem-29336	20	6	advanced	advanced	ADJ
fbem-29336	20	7	technologies	technology	NOUN
fbem-29336	20	8	,	,	PUNCT
fbem-29336	20	9	including	include	VERB
fbem-29336	20	10	artificial	artificial	ADJ
fbem-29336	20	11	intelligence	intelligence	NOUN
fbem-29336	20	12	,	,	PUNCT
fbem-29336	20	13	blockchain	blockchain	PROPN
fbem-29336	20	14	,	,	PUNCT
fbem-29336	20	15	big	big	ADJ
fbem-29336	20	16	data	datum	NOUN
fbem-29336	20	17	,	,	PUNCT
fbem-29336	20	18	and	and	CCONJ
fbem-29336	20	19	cloud	cloud	NOUN
fbem-29336	20	20	computing	computing	NOUN
fbem-29336	20	21	,	,	PUNCT
fbem-29336	20	22	to	to	ADP
fbem-29336	20	23	the	the	DET
fbem-29336	20	24	innovative	innovative	ADJ
fbem-29336	20	25	transformation	transformation	NOUN
fbem-29336	20	26	of	of	ADP
fbem-29336	20	27	financial	financial	ADJ
fbem-29336	20	28	products	product	NOUN
fbem-29336	20	29	,	,	PUNCT
fbem-29336	20	30	processes	process	NOUN
fbem-29336	20	31	,	,	PUNCT
fbem-29336	20	32	and	and	CCONJ
fbem-29336	20	33	models	model	NOUN
fbem-29336	20	34	.	.	PUNCT
fbem-29336	21	1	as	as	SCONJ
fbem-29336	21	2	fintech	fintech	NOUN
fbem-29336	21	3	continues	continue	VERB
fbem-29336	21	4	to	to	PART
fbem-29336	21	5	evolve	evolve	VERB
fbem-29336	21	6	,	,	PUNCT
fbem-29336	21	7	numerous	numerous	ADJ
fbem-29336	21	8	scholars	scholar	NOUN
fbem-29336	21	9	have	have	AUX
fbem-29336	21	10	posited	posit	VERB
fbem-29336	21	11	that	that	SCONJ
fbem-29336	21	12	it	it	PRON
fbem-29336	21	13	can	can	AUX
fbem-29336	21	14	diminish	diminish	VERB
fbem-29336	21	15	the	the	DET
fbem-29336	21	16	disparity	disparity	NOUN
fbem-29336	21	17	in	in	ADP
fbem-29336	21	18	information	information	NOUN
fbem-29336	21	19	between	between	ADP
fbem-29336	21	20	banks	bank	NOUN
fbem-29336	21	21	and	and	CCONJ
fbem-29336	21	22	enterprises	enterprise	NOUN
fbem-29336	21	23	,	,	PUNCT
fbem-29336	21	24	enhance	enhance	VERB
fbem-29336	21	25	the	the	DET
fbem-29336	21	26	efficacy	efficacy	NOUN
fbem-29336	21	27	of	of	ADP
fbem-29336	21	28	credit	credit	NOUN
fbem-29336	21	29	resource	resource	NOUN
fbem-29336	21	30	allocation	allocation	NOUN
fbem-29336	21	31	,	,	PUNCT
fbem-29336	21	32	reduce	reduce	VERB
fbem-29336	21	33	corporate	corporate	ADJ
fbem-29336	21	34	financing	financing	NOUN
fbem-29336	21	35	costs	cost	NOUN
fbem-29336	21	36	and	and	CCONJ
fbem-29336	21	37	leverage	leverage	NOUN
fbem-29336	21	38	,	,	PUNCT
fbem-29336	21	39	and	and	CCONJ
fbem-29336	21	40	optimize	optimize	VERB
fbem-29336	21	41	corporate	corporate	ADJ
fbem-29336	21	42	earnings	earning	NOUN
fbem-29336	21	43	management	management	NOUN
fbem-29336	21	44	and	and	CCONJ
fbem-29336	21	45	internal	internal	ADJ
fbem-29336	21	46	control	control	NOUN
fbem-29336	21	47	,	,	PUNCT
fbem-29336	21	48	thereby	thereby	ADV
fbem-29336	21	49	alleviating	alleviate	VERB
fbem-29336	21	50	corporate	corporate	ADJ
fbem-29336	21	51	financing	financing	NOUN
fbem-29336	21	52	constraints	constraint	NOUN
fbem-29336	21	53	[	[	X
fbem-29336	21	54	3	3	NUM
fbem-29336	21	55	,	,	PUNCT
fbem-29336	21	56	4	4	NUM
fbem-29336	21	57	]	]	PUNCT
fbem-29336	21	58	.	.	PUNCT
fbem-29336	22	1	other	other	ADJ
fbem-29336	22	2	scholars	scholar	NOUN
fbem-29336	22	3	have	have	AUX
fbem-29336	22	4	analyzed	analyze	VERB
fbem-29336	22	5	the	the	DET
fbem-29336	22	6	impact	impact	NOUN
fbem-29336	22	7	of	of	ADP
fbem-29336	22	8	fintech	fintech	NOUN
fbem-29336	22	9	on	on	ADP
fbem-29336	22	10	the	the	DET
fbem-29336	22	11	financing	financing	NOUN
fbem-29336	22	12	of	of	ADP
fbem-29336	22	13	technology	technology	NOUN
fbem-29336	22	14	companies	company	NOUN
fbem-29336	22	15	across	across	ADP
fbem-29336	22	16	different	different	ADJ
fbem-29336	22	17	stages	stage	NOUN
fbem-29336	22	18	of	of	ADP
fbem-29336	22	19	the	the	DET
fbem-29336	22	20	corporate	corporate	ADJ
fbem-29336	22	21	life	life	NOUN
fbem-29336	22	22	cycle	cycle	NOUN
fbem-29336	22	23	[	[	X
fbem-29336	22	24	5	5	NUM
fbem-29336	22	25	]	]	PUNCT
fbem-29336	22	26	.	.	PUNCT
fbem-29336	23	1	they	they	PRON
fbem-29336	23	2	have	have	AUX
fbem-29336	23	3	also	also	ADV
fbem-29336	23	4	examined	examine	VERB
fbem-29336	23	5	how	how	SCONJ
fbem-29336	23	6	fintech	fintech	NOUN
fbem-29336	23	7	can	can	AUX
fbem-29336	23	8	facilitate	facilitate	VERB
fbem-29336	23	9	the	the	DET
fbem-29336	23	10	growth	growth	NOUN
fbem-29336	23	11	of	of	ADP
fbem-29336	23	12	technology	technology	NOUN
fbem-29336	23	13	companies	company	NOUN
fbem-29336	23	14	[	[	X
fbem-29336	23	15	6	6	NUM
fbem-29336	23	16	]	]	PUNCT
fbem-29336	23	17	.	.	PUNCT
fbem-29336	24	1	the	the	DET
fbem-29336	24	2	contributions	contribution	NOUN
fbem-29336	24	3	of	of	ADP
fbem-29336	24	4	this	this	DET
fbem-29336	24	5	paper	paper	NOUN
fbem-29336	24	6	are	be	AUX
fbem-29336	24	7	as	as	SCONJ
fbem-29336	24	8	follows	follow	VERB
fbem-29336	24	9	:	:	PUNCT
fbem-29336	24	10	(	(	PUNCT
fbem-29336	24	11	1	1	X
fbem-29336	24	12	)	)	PUNCT
fbem-29336	24	13	in	in	ADP
fbem-29336	24	14	comparison	comparison	NOUN
fbem-29336	24	15	to	to	ADP
fbem-29336	24	16	research	research	NOUN
fbem-29336	24	17	conducted	conduct	VERB
fbem-29336	24	18	on	on	ADP
fbem-29336	24	19	ordinary	ordinary	ADJ
fbem-29336	24	20	technology	technology	NOUN
fbem-29336	24	21	smes	sme	NOUN
fbem-29336	24	22	,	,	PUNCT
fbem-29336	24	23	the	the	DET
fbem-29336	24	24	companies	company	NOUN
fbem-29336	24	25	included	include	VERB
fbem-29336	24	26	in	in	ADP
fbem-29336	24	27	the	the	DET
fbem-29336	24	28	strategic	strategic	ADJ
fbem-29336	24	29	emerging	emerge	VERB
fbem-29336	24	30	industries	industry	NOUN
fbem-29336	24	31	category	category	NOUN
fbem-29336	24	32	of	of	ADP
fbem-29336	24	33	the	the	DET
fbem-29336	24	34	science	science	NOUN
fbem-29336	24	35	and	and	CCONJ
fbem-29336	24	36	technology	technology	NOUN
fbem-29336	24	37	innovation	innovation	NOUN
fbem-29336	24	38	board	board	NOUN
fbem-29336	24	39	(	(	PUNCT
fbem-29336	24	40	stib	stib	PROPN
fbem-29336	24	41	)	)	PUNCT
fbem-29336	24	42	are	be	AUX
fbem-29336	24	43	more	more	ADV
fbem-29336	24	44	widely	widely	ADV
fbem-29336	24	45	recognized	recognize	VERB
fbem-29336	24	46	by	by	ADP
fbem-29336	24	47	the	the	DET
fbem-29336	24	48	market	market	NOUN
fbem-29336	24	49	,	,	PUNCT
fbem-29336	24	50	and	and	CCONJ
fbem-29336	24	51	the	the	DET
fbem-29336	24	52	results	result	NOUN
fbem-29336	24	53	of	of	ADP
fbem-29336	24	54	the	the	DET
fbem-29336	24	55	research	research	NOUN
fbem-29336	24	56	are	be	AUX
fbem-29336	24	57	more	more	ADV
fbem-29336	24	58	informative	informative	ADJ
fbem-29336	24	59	.	.	PUNCT
fbem-29336	25	1	(	(	PUNCT
fbem-29336	25	2	2	2	X
fbem-29336	25	3	)	)	PUNCT
fbem-29336	25	4	a	a	DET
fbem-29336	25	5	logistic	logistic	ADJ
fbem-29336	25	6	regression	regression	NOUN
fbem-29336	25	7	model	model	NOUN
fbem-29336	25	8	is	be	AUX
fbem-29336	25	9	employed	employ	VERB
fbem-29336	25	10	to	to	PART
fbem-29336	25	11	construct	construct	VERB
fbem-29336	25	12	a	a	DET
fbem-29336	25	13	financing	financing	NOUN
fbem-29336	25	14	constraint	constraint	NOUN
fbem-29336	25	15	index	index	NOUN
fbem-29336	25	16	for	for	ADP
fbem-29336	25	17	technology	technology	NOUN
fbem-29336	25	18	smes	sme	NOUN
fbem-29336	25	19	,	,	PUNCT
fbem-29336	25	20	thereby	thereby	ADV
fbem-29336	25	21	offering	offer	VERB
fbem-29336	25	22	a	a	DET
fbem-29336	25	23	novel	novel	ADJ
fbem-29336	25	24	approach	approach	NOUN
fbem-29336	25	25	to	to	ADP
fbem-29336	25	26	measuring	measure	VERB
fbem-29336	25	27	the	the	DET
fbem-29336	25	28	financing	financing	NOUN
fbem-29336	25	29	constraints	constraint	NOUN
fbem-29336	25	30	of	of	ADP
fbem-29336	25	31	such	such	ADJ
fbem-29336	25	32	companies	company	NOUN
fbem-29336	25	33	.	.	PUNCT
fbem-29336	26	1	(	(	PUNCT
fbem-29336	26	2	3	3	X
fbem-29336	26	3	)	)	PUNCT
fbem-29336	26	4	prior	prior	ADJ
fbem-29336	26	5	research	research	NOUN
fbem-29336	26	6	has	have	AUX
fbem-29336	26	7	conducted	conduct	VERB
fbem-29336	26	8	a	a	DET
fbem-29336	26	9	substantial	substantial	ADJ
fbem-29336	26	10	amount	amount	NOUN
fbem-29336	26	11	of	of	ADP
fbem-29336	26	12	mechanism	mechanism	NOUN
fbem-29336	26	13	analysis	analysis	NOUN
fbem-29336	26	14	and	and	CCONJ
fbem-29336	26	15	empirical	empirical	ADJ
fbem-29336	26	16	analysis	analysis	NOUN
fbem-29336	26	17	on	on	ADP
fbem-29336	26	18	the	the	DET
fbem-29336	26	19	ways	way	NOUN
fbem-29336	26	20	in	in	ADP
fbem-29336	26	21	which	which	PRON
fbem-29336	26	22	fintech	fintech	NOUN
fbem-29336	26	23	can	can	AUX
fbem-29336	26	24	alleviate	alleviate	VERB
fbem-29336	26	25	general	general	ADJ
fbem-29336	26	26	corporate	corporate	ADJ
fbem-29336	26	27	financing	financing	NOUN
fbem-29336	26	28	problems	problem	NOUN
fbem-29336	26	29	.	.	PUNCT
fbem-29336	27	1	however	however	ADV
fbem-29336	27	2	,	,	PUNCT
fbem-29336	27	3	there	there	PRON
fbem-29336	27	4	has	have	AUX
fbem-29336	27	5	been	be	AUX
fbem-29336	27	6	a	a	DET
fbem-29336	27	7	dearth	dearth	NOUN
fbem-29336	27	8	of	of	ADP
fbem-29336	27	9	empirical	empirical	ADJ
fbem-29336	27	10	research	research	NOUN
fbem-29336	27	11	on	on	ADP
fbem-29336	27	12	how	how	SCONJ
fbem-29336	27	13	the	the	DET
fbem-29336	27	14	development	development	NOUN
fbem-29336	27	15	of	of	ADP
fbem-29336	27	16	fintech	fintech	NOUN
fbem-29336	27	17	affects	affect	VERB
fbem-29336	27	18	the	the	DET
fbem-29336	27	19	financing	financing	NOUN
fbem-29336	27	20	constraints	constraint	NOUN
fbem-29336	27	21	of	of	ADP
fbem-29336	27	22	such	such	ADJ
fbem-29336	27	23	companies	company	NOUN
fbem-29336	27	24	.	.	PUNCT
fbem-29336	28	1	this	this	DET
fbem-29336	28	2	issue	issue	NOUN
fbem-29336	28	3	provides	provide	VERB
fbem-29336	28	4	novel	novel	ADJ
fbem-29336	28	5	insights	insight	NOUN
fbem-29336	28	6	for	for	ADP
fbem-29336	28	7	technology	technology	NOUN
fbem-29336	28	8	smes	sme	NOUN
fbem-29336	28	9	to	to	PART
fbem-29336	28	10	alleviate	alleviate	VERB
fbem-29336	28	11	financing	financing	NOUN
fbem-29336	28	12	constraints	constraint	NOUN
fbem-29336	28	13	and	and	CCONJ
fbem-29336	28	14	facilitate	facilitate	NOUN
fbem-29336	28	15	enterprise	enterprise	NOUN
fbem-29336	28	16	development	development	NOUN
fbem-29336	28	17	.	.	PUNCT
fbem-29336	29	1	this	this	DET
fbem-29336	29	2	paper	paper	NOUN
fbem-29336	29	3	takes	take	VERB
fbem-29336	29	4	the	the	DET
fbem-29336	29	5	strategic	strategic	ADJ
fbem-29336	29	6	emerging	emerge	VERB
fbem-29336	29	7	industry	industry	NOUN
fbem-29336	29	8	enterprises	enterprise	NOUN
fbem-29336	29	9	of	of	ADP
fbem-29336	29	10	the	the	DET
fbem-29336	29	11	science	science	NOUN
fbem-29336	29	12	and	and	CCONJ
fbem-29336	29	13	technology	technology	NOUN
fbem-29336	29	14	innovation	innovation	NOUN
fbem-29336	29	15	board	board	NOUN
fbem-29336	29	16	as	as	ADP
fbem-29336	29	17	its	its	PRON
fbem-29336	29	18	research	research	NOUN
fbem-29336	29	19	object	object	NOUN
fbem-29336	29	20	.	.	PUNCT
fbem-29336	30	1	it	it	PRON
fbem-29336	30	2	studies	study	VERB
fbem-29336	30	3	the	the	DET
fbem-29336	30	4	impact	impact	NOUN
fbem-29336	30	5	of	of	ADP
fbem-29336	30	6	fintech	fintech	NOUN
fbem-29336	30	7	development	development	NOUN
fbem-29336	30	8	191	191	NUM
fbem-29336	30	9	on	on	ADP
fbem-29336	30	10	the	the	DET
fbem-29336	30	11	financing	financing	NOUN
fbem-29336	30	12	of	of	ADP
fbem-29336	30	13	technology	technology	NOUN
fbem-29336	30	14	-	-	PUNCT
fbem-29336	30	15	based	base	VERB
fbem-29336	30	16	smes	sme	NOUN
fbem-29336	30	17	and	and	CCONJ
fbem-29336	30	18	the	the	DET
fbem-29336	30	19	mediating	mediate	VERB
fbem-29336	30	20	effect	effect	NOUN
fbem-29336	30	21	of	of	ADP
fbem-29336	30	22	information	information	NOUN
fbem-29336	30	23	asymmetry	asymmetry	NOUN
fbem-29336	30	24	through	through	ADP
fbem-29336	30	25	empirical	empirical	ADJ
fbem-29336	30	26	analysis	analysis	NOUN
fbem-29336	30	27	.	.	PUNCT
fbem-29336	31	1	the	the	DET
fbem-29336	31	2	relevant	relevant	ADJ
fbem-29336	31	3	data	datum	NOUN
fbem-29336	31	4	from	from	ADP
fbem-29336	31	5	2016	2016	NUM
fbem-29336	31	6	to	to	ADP
fbem-29336	31	7	2020	2020	NUM
fbem-29336	31	8	are	be	AUX
fbem-29336	31	9	selected	select	VERB
fbem-29336	31	10	as	as	ADP
fbem-29336	31	11	the	the	DET
fbem-29336	31	12	empirical	empirical	ADJ
fbem-29336	31	13	sample	sample	NOUN
fbem-29336	31	14	data	datum	NOUN
fbem-29336	31	15	,	,	PUNCT
fbem-29336	31	16	and	and	CCONJ
fbem-29336	31	17	the	the	DET
fbem-29336	31	18	mechanism	mechanism	NOUN
fbem-29336	31	19	path	path	NOUN
fbem-29336	31	20	of	of	ADP
fbem-29336	31	21	the	the	DET
fbem-29336	31	22	impact	impact	NOUN
fbem-29336	31	23	of	of	ADP
fbem-29336	31	24	fintech	fintech	NOUN
fbem-29336	31	25	development	development	NOUN
fbem-29336	31	26	on	on	ADP
fbem-29336	31	27	the	the	DET
fbem-29336	31	28	financing	financing	NOUN
fbem-29336	31	29	of	of	ADP
fbem-29336	31	30	technology	technology	NOUN
fbem-29336	31	31	-	-	PUNCT
fbem-29336	31	32	based	base	VERB
fbem-29336	31	33	smes	sme	NOUN
fbem-29336	31	34	is	be	AUX
fbem-29336	31	35	further	far	ADV
fbem-29336	31	36	explored	explore	VERB
fbem-29336	31	37	.	.	PUNCT
fbem-29336	32	1	2	2	X
fbem-29336	32	2	.	.	X
fbem-29336	32	3	literature	literature	NOUN
fbem-29336	32	4	review	review	PROPN
fbem-29336	32	5	and	and	CCONJ
fbem-29336	32	6	theoretical	theoretical	ADJ
fbem-29336	32	7	hypothesis	hypothesis	NOUN
fbem-29336	32	8	information	information	NOUN
fbem-29336	32	9	asymmetry	asymmetry	NOUN
fbem-29336	32	10	represents	represent	VERB
fbem-29336	32	11	a	a	DET
fbem-29336	32	12	significant	significant	ADJ
fbem-29336	32	13	factor	factor	NOUN
fbem-29336	32	14	contributing	contribute	VERB
fbem-29336	32	15	to	to	ADP
fbem-29336	32	16	the	the	DET
fbem-29336	32	17	constraints	constraint	NOUN
fbem-29336	32	18	observed	observe	VERB
fbem-29336	32	19	in	in	ADP
fbem-29336	32	20	corporate	corporate	ADJ
fbem-29336	32	21	financing	financing	NOUN
fbem-29336	32	22	.	.	PUNCT
fbem-29336	33	1	for	for	ADP
fbem-29336	33	2	small	small	ADJ
fbem-29336	33	3	and	and	CCONJ
fbem-29336	33	4	medium	medium	ADJ
fbem-29336	33	5	-	-	PUNCT
fbem-29336	33	6	sized	sized	ADJ
fbem-29336	33	7	technology	technology	NOUN
fbem-29336	33	8	companies	company	NOUN
fbem-29336	33	9	,	,	PUNCT
fbem-29336	33	10	when	when	SCONJ
fbem-29336	33	11	investors	investor	NOUN
fbem-29336	33	12	obtain	obtain	VERB
fbem-29336	33	13	sufficient	sufficient	ADJ
fbem-29336	33	14	information	information	NOUN
fbem-29336	33	15	,	,	PUNCT
fbem-29336	33	16	it	it	PRON
fbem-29336	33	17	will	will	AUX
fbem-29336	33	18	increase	increase	VERB
fbem-29336	33	19	the	the	DET
fbem-29336	33	20	uncertainty	uncertainty	NOUN
fbem-29336	33	21	of	of	ADP
fbem-29336	33	22	the	the	DET
fbem-29336	33	23	company	company	NOUN
fbem-29336	33	24	's	's	PART
fbem-29336	33	25	future	future	ADJ
fbem-29336	33	26	development	development	NOUN
fbem-29336	33	27	,	,	PUNCT
fbem-29336	33	28	thereby	thereby	ADV
fbem-29336	33	29	leading	lead	VERB
fbem-29336	33	30	to	to	ADP
fbem-29336	33	31	corporate	corporate	ADJ
fbem-29336	33	32	financing	financing	NOUN
fbem-29336	33	33	constraints	constraint	NOUN
fbem-29336	33	34	.	.	PUNCT
fbem-29336	34	1	a	a	DET
fbem-29336	34	2	substantial	substantial	ADJ
fbem-29336	34	3	body	body	NOUN
fbem-29336	34	4	of	of	ADP
fbem-29336	34	5	scholarship	scholarship	NOUN
fbem-29336	34	6	has	have	AUX
fbem-29336	34	7	been	be	AUX
fbem-29336	34	8	devoted	devote	VERB
fbem-29336	34	9	to	to	ADP
fbem-29336	34	10	investigating	investigate	VERB
fbem-29336	34	11	the	the	DET
fbem-29336	34	12	influence	influence	NOUN
fbem-29336	34	13	of	of	ADP
fbem-29336	34	14	information	information	NOUN
fbem-29336	34	15	asymmetry	asymmetry	NOUN
fbem-29336	34	16	on	on	ADP
fbem-29336	34	17	corporate	corporate	ADJ
fbem-29336	34	18	financing	financing	NOUN
fbem-29336	34	19	constraints	constraint	NOUN
fbem-29336	34	20	.	.	PUNCT
fbem-29336	35	1	stewart	stewart	PROPN
fbem-29336	35	2	,	,	PUNCT
fbem-29336	35	3	m.	m.	NOUN
fbem-29336	35	4	,	,	PUNCT
fbem-29336	35	5	&	&	CCONJ
fbem-29336	35	6	nicholas	nicholas	PROPN
fbem-29336	35	7	,	,	PUNCT
fbem-29336	35	8	m.	m.	NOUN
fbem-29336	35	9	advanced	advance	VERB
fbem-29336	35	10	the	the	DET
fbem-29336	35	11	proposition	proposition	NOUN
fbem-29336	35	12	that	that	SCONJ
fbem-29336	35	13	when	when	SCONJ
fbem-29336	35	14	the	the	DET
fbem-29336	35	15	capital	capital	NOUN
fbem-29336	35	16	market	market	NOUN
fbem-29336	35	17	is	be	AUX
fbem-29336	35	18	imperfect	imperfect	ADJ
fbem-29336	35	19	,	,	PUNCT
fbem-29336	35	20	firms	firm	NOUN
fbem-29336	35	21	do	do	AUX
fbem-29336	35	22	require	require	VERB
fbem-29336	35	23	external	external	ADJ
fbem-29336	35	24	financing	financing	NOUN
fbem-29336	35	25	.	.	PUNCT
fbem-29336	36	1	as	as	ADP
fbem-29336	36	2	a	a	DET
fbem-29336	36	3	consequence	consequence	NOUN
fbem-29336	36	4	of	of	ADP
fbem-29336	36	5	information	information	NOUN
fbem-29336	36	6	asymmetry	asymmetry	NOUN
fbem-29336	36	7	,	,	PUNCT
fbem-29336	36	8	external	external	ADJ
fbem-29336	36	9	investors	investor	NOUN
fbem-29336	36	10	may	may	AUX
fbem-29336	36	11	be	be	AUX
fbem-29336	36	12	unable	unable	ADJ
fbem-29336	36	13	to	to	PART
fbem-29336	36	14	accurately	accurately	ADV
fbem-29336	36	15	assess	assess	VERB
fbem-29336	36	16	the	the	DET
fbem-29336	36	17	value	value	NOUN
fbem-29336	36	18	of	of	ADP
fbem-29336	36	19	the	the	DET
fbem-29336	36	20	company	company	NOUN
fbem-29336	36	21	,	,	PUNCT
fbem-29336	36	22	which	which	PRON
fbem-29336	36	23	in	in	ADP
fbem-29336	36	24	turn	turn	NOUN
fbem-29336	36	25	restricts	restrict	VERB
fbem-29336	36	26	corporate	corporate	ADJ
fbem-29336	36	27	financing	financing	NOUN
fbem-29336	36	28	[	[	X
fbem-29336	36	29	7	7	NUM
fbem-29336	36	30	]	]	PUNCT
fbem-29336	36	31	.	.	PUNCT
fbem-29336	37	1	fazzari	fazzari	PROPN
fbem-29336	37	2	,	,	PUNCT
fbem-29336	37	3	s.	s.	PROPN
fbem-29336	37	4	et	et	PROPN
fbem-29336	37	5	al	al	PROPN
fbem-29336	37	6	.	.	PROPN
fbem-29336	37	7	proposed	propose	VERB
fbem-29336	37	8	the	the	DET
fbem-29336	37	9	financing	financing	NOUN
fbem-29336	37	10	constraint	constraint	NOUN
fbem-29336	37	11	hypothesis	hypothesis	NOUN
fbem-29336	37	12	based	base	VERB
fbem-29336	37	13	on	on	ADP
fbem-29336	37	14	information	information	NOUN
fbem-29336	37	15	asymmetry	asymmetry	NOUN
fbem-29336	37	16	theory	theory	NOUN
fbem-29336	37	17	,	,	PUNCT
fbem-29336	37	18	thereby	thereby	ADV
fbem-29336	37	19	initiating	initiate	VERB
fbem-29336	37	20	the	the	DET
fbem-29336	37	21	study	study	NOUN
fbem-29336	37	22	of	of	ADP
fbem-29336	37	23	the	the	DET
fbem-29336	37	24	relationship	relationship	NOUN
fbem-29336	37	25	between	between	ADP
fbem-29336	37	26	investment	investment	NOUN
fbem-29336	37	27	and	and	CCONJ
fbem-29336	37	28	cash	cash	NOUN
fbem-29336	37	29	flow	flow	NOUN
fbem-29336	37	30	sensitivity	sensitivity	NOUN
fbem-29336	37	31	of	of	ADP
fbem-29336	37	32	companies	company	NOUN
fbem-29336	37	33	under	under	ADP
fbem-29336	37	34	financing	financing	NOUN
fbem-29336	37	35	constraints	constraint	NOUN
fbem-29336	37	36	[	[	X
fbem-29336	37	37	8	8	NUM
fbem-29336	37	38	]	]	PUNCT
fbem-29336	37	39	.	.	PUNCT
fbem-29336	38	1	stiglitz	stiglitz	PROPN
fbem-29336	38	2	,	,	PUNCT
fbem-29336	38	3	j.	j.	PROPN
fbem-29336	38	4	e.	e.	PROPN
fbem-29336	38	5	,	,	PUNCT
fbem-29336	38	6	&	&	CCONJ
fbem-29336	38	7	weiss	weiss	PROPN
fbem-29336	38	8	,	,	PUNCT
fbem-29336	38	9	a.	a.	PROPN
fbem-29336	38	10	demonstrated	demonstrate	VERB
fbem-29336	38	11	that	that	SCONJ
fbem-29336	38	12	due	due	ADP
fbem-29336	38	13	to	to	ADP
fbem-29336	38	14	incomplete	incomplete	ADJ
fbem-29336	38	15	information	information	NOUN
fbem-29336	38	16	,	,	PUNCT
fbem-29336	38	17	banks	bank	NOUN
fbem-29336	38	18	are	be	AUX
fbem-29336	38	19	unable	unable	ADJ
fbem-29336	38	20	to	to	PART
fbem-29336	38	21	accurately	accurately	ADV
fbem-29336	38	22	distinguish	distinguish	VERB
fbem-29336	38	23	the	the	DET
fbem-29336	38	24	risk	risk	NOUN
fbem-29336	38	25	level	level	NOUN
fbem-29336	38	26	of	of	ADP
fbem-29336	38	27	borrowers	borrower	NOUN
fbem-29336	38	28	[	[	X
fbem-29336	38	29	9	9	NUM
fbem-29336	38	30	]	]	PUNCT
fbem-29336	38	31	.	.	PUNCT
fbem-29336	39	1	consequently	consequently	ADV
fbem-29336	39	2	,	,	PUNCT
fbem-29336	39	3	even	even	ADV
fbem-29336	39	4	if	if	SCONJ
fbem-29336	39	5	loan	loan	NOUN
fbem-29336	39	6	applicants	applicant	NOUN
fbem-29336	39	7	are	be	AUX
fbem-29336	39	8	willing	willing	ADJ
fbem-29336	39	9	to	to	PART
fbem-29336	39	10	pay	pay	VERB
fbem-29336	39	11	a	a	DET
fbem-29336	39	12	higher	high	ADJ
fbem-29336	39	13	interest	interest	NOUN
fbem-29336	39	14	rate	rate	NOUN
fbem-29336	39	15	,	,	PUNCT
fbem-29336	39	16	they	they	PRON
fbem-29336	39	17	may	may	AUX
fbem-29336	39	18	not	not	PART
fbem-29336	39	19	be	be	AUX
fbem-29336	39	20	able	able	ADJ
fbem-29336	39	21	to	to	PART
fbem-29336	39	22	obtain	obtain	VERB
fbem-29336	39	23	loans	loan	NOUN
fbem-29336	39	24	due	due	ADP
fbem-29336	39	25	to	to	ADP
fbem-29336	39	26	information	information	NOUN
fbem-29336	39	27	asymmetry	asymmetry	NOUN
fbem-29336	39	28	.	.	PUNCT
fbem-29336	40	1	lu	lu	PROPN
fbem-29336	40	2	politburo	politburo	PROPN
fbem-29336	40	3	has	have	AUX
fbem-29336	40	4	highlighted	highlight	VERB
fbem-29336	40	5	the	the	DET
fbem-29336	40	6	lack	lack	NOUN
fbem-29336	40	7	of	of	ADP
fbem-29336	40	8	a	a	DET
fbem-29336	40	9	comprehensive	comprehensive	ADJ
fbem-29336	40	10	credit	credit	NOUN
fbem-29336	40	11	reporting	reporting	NOUN
fbem-29336	40	12	system	system	NOUN
fbem-29336	40	13	database	database	NOUN
fbem-29336	40	14	in	in	ADP
fbem-29336	40	15	banks	bank	NOUN
fbem-29336	40	16	,	,	PUNCT
fbem-29336	40	17	which	which	PRON
fbem-29336	40	18	is	be	AUX
fbem-29336	40	19	further	far	ADV
fbem-29336	40	20	compounded	compound	VERB
fbem-29336	40	21	by	by	ADP
fbem-29336	40	22	the	the	DET
fbem-29336	40	23	opaque	opaque	ADJ
fbem-29336	40	24	information	information	NOUN
fbem-29336	40	25	surrounding	surround	VERB
fbem-29336	40	26	small	small	ADJ
fbem-29336	40	27	and	and	CCONJ
fbem-29336	40	28	micro	micro	ADJ
fbem-29336	40	29	enterprises	enterprise	NOUN
fbem-29336	40	30	[	[	X
fbem-29336	40	31	10	10	NUM
fbem-29336	40	32	]	]	PUNCT
fbem-29336	40	33	.	.	PUNCT
fbem-29336	41	1	this	this	PRON
fbem-29336	41	2	makes	make	VERB
fbem-29336	41	3	it	it	PRON
fbem-29336	41	4	challenging	challenge	VERB
fbem-29336	41	5	for	for	SCONJ
fbem-29336	41	6	banks	bank	NOUN
fbem-29336	41	7	to	to	PART
fbem-29336	41	8	accurately	accurately	ADV
fbem-29336	41	9	assess	assess	VERB
fbem-29336	41	10	the	the	DET
fbem-29336	41	11	credit	credit	NOUN
fbem-29336	41	12	status	status	NOUN
fbem-29336	41	13	and	and	CCONJ
fbem-29336	41	14	risks	risk	NOUN
fbem-29336	41	15	associated	associate	VERB
fbem-29336	41	16	with	with	ADP
fbem-29336	41	17	these	these	DET
fbem-29336	41	18	enterprises	enterprise	NOUN
fbem-29336	41	19	,	,	PUNCT
fbem-29336	41	20	ultimately	ultimately	ADV
fbem-29336	41	21	limiting	limit	VERB
fbem-29336	41	22	the	the	DET
fbem-29336	41	23	precision	precision	NOUN
fbem-29336	41	24	of	of	ADP
fbem-29336	41	25	risk	risk	NOUN
fbem-29336	41	26	management	management	NOUN
fbem-29336	41	27	and	and	CCONJ
fbem-29336	41	28	pricing	pricing	NOUN
fbem-29336	41	29	.	.	PUNCT
fbem-29336	42	1	the	the	DET
fbem-29336	42	2	cost	cost	NOUN
fbem-29336	42	3	of	of	ADP
fbem-29336	42	4	external	external	ADJ
fbem-29336	42	5	financing	financing	NOUN
fbem-29336	42	6	is	be	AUX
fbem-29336	42	7	influenced	influence	VERB
fbem-29336	42	8	by	by	ADP
fbem-29336	42	9	information	information	NOUN
fbem-29336	42	10	asymmetry	asymmetry	NOUN
fbem-29336	42	11	,	,	PUNCT
fbem-29336	42	12	and	and	CCONJ
fbem-29336	42	13	this	this	DET
fbem-29336	42	14	cost	cost	NOUN
fbem-29336	42	15	differential	differential	NOUN
fbem-29336	42	16	reflects	reflect	VERB
fbem-29336	42	17	the	the	DET
fbem-29336	42	18	extent	extent	NOUN
fbem-29336	42	19	of	of	ADP
fbem-29336	42	20	financing	financing	NOUN
fbem-29336	42	21	constraints	constraint	NOUN
fbem-29336	42	22	faced	face	VERB
fbem-29336	42	23	by	by	ADP
fbem-29336	42	24	companies	company	NOUN
fbem-29336	42	25	.	.	PUNCT
fbem-29336	43	1	zhang	zhang	PROPN
fbem-29336	43	2	weiying	weiye	VERB
fbem-29336	43	3	put	put	VERB
fbem-29336	43	4	forth	forth	ADP
fbem-29336	43	5	the	the	DET
fbem-29336	43	6	proposition	proposition	NOUN
fbem-29336	43	7	that	that	SCONJ
fbem-29336	43	8	the	the	DET
fbem-29336	43	9	adverse	adverse	ADJ
fbem-29336	43	10	selection	selection	NOUN
fbem-29336	43	11	and	and	CCONJ
fbem-29336	43	12	moral	moral	ADJ
fbem-29336	43	13	hazard	hazard	NOUN
fbem-29336	43	14	issues	issue	NOUN
fbem-29336	43	15	resulting	result	VERB
fbem-29336	43	16	from	from	ADP
fbem-29336	43	17	information	information	NOUN
fbem-29336	43	18	asymmetry	asymmetry	NOUN
fbem-29336	43	19	exert	exert	VERB
fbem-29336	43	20	a	a	DET
fbem-29336	43	21	considerable	considerable	ADJ
fbem-29336	43	22	influence	influence	NOUN
fbem-29336	43	23	on	on	ADP
fbem-29336	43	24	the	the	DET
fbem-29336	43	25	financing	financing	NOUN
fbem-29336	43	26	costs	cost	NOUN
fbem-29336	43	27	,	,	PUNCT
fbem-29336	43	28	financing	financing	NOUN
fbem-29336	43	29	structure	structure	NOUN
fbem-29336	43	30	,	,	PUNCT
fbem-29336	43	31	and	and	CCONJ
fbem-29336	43	32	financing	financing	NOUN
fbem-29336	43	33	strategies	strategy	NOUN
fbem-29336	43	34	of	of	ADP
fbem-29336	43	35	enterprises	enterprise	NOUN
fbem-29336	43	36	[	[	X
fbem-29336	43	37	11	11	NUM
fbem-29336	43	38	]	]	PUNCT
fbem-29336	43	39	.	.	PUNCT
fbem-29336	44	1	in	in	ADP
fbem-29336	44	2	particular	particular	ADJ
fbem-29336	44	3	,	,	PUNCT
fbem-29336	44	4	the	the	DET
fbem-29336	44	5	opacity	opacity	NOUN
fbem-29336	44	6	of	of	ADP
fbem-29336	44	7	information	information	NOUN
fbem-29336	44	8	and	and	CCONJ
fbem-29336	44	9	the	the	DET
fbem-29336	44	10	inability	inability	NOUN
fbem-29336	44	11	of	of	ADP
fbem-29336	44	12	small	small	ADJ
fbem-29336	44	13	and	and	CCONJ
fbem-29336	44	14	medium	medium	ADJ
fbem-29336	44	15	-	-	PUNCT
fbem-29336	44	16	sized	sized	ADJ
fbem-29336	44	17	technology	technology	NOUN
fbem-29336	44	18	companies	company	NOUN
fbem-29336	44	19	to	to	PART
fbem-29336	44	20	provide	provide	VERB
fbem-29336	44	21	sufficient	sufficient	ADJ
fbem-29336	44	22	guarantees	guarantee	NOUN
fbem-29336	44	23	or	or	CCONJ
fbem-29336	44	24	collateral	collateral	NOUN
fbem-29336	44	25	render	render	VERB
fbem-29336	44	26	it	it	PRON
fbem-29336	44	27	challenging	challenge	VERB
fbem-29336	44	28	for	for	ADP
fbem-29336	44	29	formal	formal	ADJ
fbem-29336	44	30	financial	financial	ADJ
fbem-29336	44	31	institutions	institution	NOUN
fbem-29336	44	32	to	to	PART
fbem-29336	44	33	respond	respond	VERB
fbem-29336	44	34	effectively	effectively	ADV
fbem-29336	44	35	to	to	ADP
fbem-29336	44	36	adverse	adverse	ADJ
fbem-29336	44	37	selection	selection	NOUN
fbem-29336	44	38	problems	problem	NOUN
fbem-29336	44	39	and	and	CCONJ
fbem-29336	44	40	default	default	NOUN
fbem-29336	44	41	risks	risk	NOUN
fbem-29336	44	42	caused	cause	VERB
fbem-29336	44	43	by	by	ADP
fbem-29336	44	44	information	information	NOUN
fbem-29336	44	45	asymmetry	asymmetry	NOUN
fbem-29336	44	46	,	,	PUNCT
fbem-29336	44	47	thereby	thereby	ADV
fbem-29336	44	48	exacerbating	exacerbate	VERB
fbem-29336	44	49	the	the	DET
fbem-29336	44	50	financing	financing	NOUN
fbem-29336	44	51	constraints	constraint	NOUN
fbem-29336	44	52	of	of	ADP
fbem-29336	44	53	small	small	ADJ
fbem-29336	44	54	and	and	CCONJ
fbem-29336	44	55	medium	medium	ADJ
fbem-29336	44	56	-	-	PUNCT
fbem-29336	44	57	sized	sized	ADJ
fbem-29336	44	58	technology	technology	NOUN
fbem-29336	44	59	companies	company	NOUN
fbem-29336	44	60	[	[	X
fbem-29336	44	61	12	12	NUM
fbem-29336	44	62	]	]	PUNCT
fbem-29336	44	63	.	.	PUNCT
fbem-29336	45	1	in	in	ADP
fbem-29336	45	2	light	light	NOUN
fbem-29336	45	3	of	of	ADP
fbem-29336	45	4	the	the	DET
fbem-29336	45	5	aforementioned	aforementioned	ADJ
fbem-29336	45	6	evidence	evidence	NOUN
fbem-29336	45	7	,	,	PUNCT
fbem-29336	45	8	this	this	DET
fbem-29336	45	9	paper	paper	NOUN
fbem-29336	45	10	puts	put	VERB
fbem-29336	45	11	forth	forth	ADP
fbem-29336	45	12	the	the	DET
fbem-29336	45	13	following	follow	VERB
fbem-29336	45	14	hypothesis	hypothesis	NOUN
fbem-29336	45	15	:	:	PUNCT
fbem-29336	45	16	information	information	NOUN
fbem-29336	45	17	asymmetry	asymmetry	NOUN
fbem-29336	45	18	serves	serve	VERB
fbem-29336	45	19	to	to	PART
fbem-29336	45	20	exacerbate	exacerbate	VERB
fbem-29336	45	21	the	the	DET
fbem-29336	45	22	financing	financing	NOUN
fbem-29336	45	23	constraints	constraint	NOUN
fbem-29336	45	24	of	of	ADP
fbem-29336	45	25	technology	technology	NOUN
fbem-29336	45	26	smes	sme	NOUN
fbem-29336	45	27	.	.	PUNCT
fbem-29336	46	1	(	(	PUNCT
fbem-29336	46	2	h1	h1	NOUN
fbem-29336	46	3	)	)	PUNCT
fbem-29336	46	4	fintech	fintech	NOUN
fbem-29336	46	5	effectively	effectively	ADV
fbem-29336	46	6	addresses	address	VERB
fbem-29336	46	7	the	the	DET
fbem-29336	46	8	issue	issue	NOUN
fbem-29336	46	9	of	of	ADP
fbem-29336	46	10	information	information	NOUN
fbem-29336	46	11	asymmetry	asymmetry	NOUN
fbem-29336	46	12	by	by	ADP
fbem-29336	46	13	facilitating	facilitate	VERB
fbem-29336	46	14	the	the	DET
fbem-29336	46	15	dissemination	dissemination	NOUN
fbem-29336	46	16	of	of	ADP
fbem-29336	46	17	more	more	ADJ
fbem-29336	46	18	data	datum	NOUN
fbem-29336	46	19	and	and	CCONJ
fbem-29336	46	20	information	information	NOUN
fbem-29336	46	21	sharing	sharing	NOUN
fbem-29336	46	22	platforms	platform	NOUN
fbem-29336	46	23	.	.	PUNCT
fbem-29336	47	1	the	the	DET
fbem-29336	47	2	advancement	advancement	NOUN
fbem-29336	47	3	of	of	ADP
fbem-29336	47	4	fintech	fintech	NOUN
fbem-29336	47	5	diminishes	diminish	VERB
fbem-29336	47	6	the	the	DET
fbem-29336	47	7	extent	extent	NOUN
fbem-29336	47	8	of	of	ADP
fbem-29336	47	9	information	information	NOUN
fbem-29336	47	10	asymmetry	asymmetry	NOUN
fbem-29336	47	11	between	between	ADP
fbem-29336	47	12	the	the	DET
fbem-29336	47	13	supply	supply	NOUN
fbem-29336	47	14	and	and	CCONJ
fbem-29336	47	15	demand	demand	NOUN
fbem-29336	47	16	sides	side	NOUN
fbem-29336	47	17	of	of	ADP
fbem-29336	47	18	funds	fund	NOUN
fbem-29336	47	19	,	,	PUNCT
fbem-29336	47	20	thereby	thereby	ADV
fbem-29336	47	21	markedly	markedly	ADV
fbem-29336	47	22	alleviating	alleviate	VERB
fbem-29336	47	23	the	the	DET
fbem-29336	47	24	financing	financing	NOUN
fbem-29336	47	25	constraints	constraint	NOUN
fbem-29336	47	26	of	of	ADP
fbem-29336	47	27	enterprises	enterprise	NOUN
fbem-29336	47	28	[	[	X
fbem-29336	47	29	13	13	NUM
fbem-29336	47	30	]	]	PUNCT
fbem-29336	47	31	.	.	PUNCT
fbem-29336	48	1	among	among	ADP
fbem-29336	48	2	these	these	PRON
fbem-29336	48	3	,	,	PUNCT
fbem-29336	48	4	internet	internet	NOUN
fbem-29336	48	5	finance	finance	NOUN
fbem-29336	48	6	introduces	introduce	VERB
fbem-29336	48	7	novel	novel	ADJ
fbem-29336	48	8	financing	financing	NOUN
fbem-29336	48	9	forms	form	NOUN
fbem-29336	48	10	,	,	PUNCT
fbem-29336	48	11	facilitates	facilitate	VERB
fbem-29336	48	12	more	more	ADV
fbem-29336	48	13	efficient	efficient	ADJ
fbem-29336	48	14	and	and	CCONJ
fbem-29336	48	15	rapid	rapid	ADJ
fbem-29336	48	16	financing	financing	NOUN
fbem-29336	48	17	channels	channel	NOUN
fbem-29336	48	18	for	for	ADP
fbem-29336	48	19	small	small	ADJ
fbem-29336	48	20	and	and	CCONJ
fbem-29336	48	21	medium	medium	ADJ
fbem-29336	48	22	-	-	PUNCT
fbem-29336	48	23	sized	sized	ADJ
fbem-29336	48	24	technology	technology	NOUN
fbem-29336	48	25	enterprises	enterprise	NOUN
fbem-29336	48	26	,	,	PUNCT
fbem-29336	48	27	reduces	reduce	VERB
fbem-29336	48	28	the	the	DET
fbem-29336	48	29	degree	degree	NOUN
fbem-29336	48	30	of	of	ADP
fbem-29336	48	31	information	information	NOUN
fbem-29336	48	32	asymmetry	asymmetry	NOUN
fbem-29336	48	33	,	,	PUNCT
fbem-29336	48	34	and	and	CCONJ
fbem-29336	48	35	enhances	enhance	VERB
fbem-29336	48	36	the	the	DET
fbem-29336	48	37	efficiency	efficiency	NOUN
fbem-29336	48	38	of	of	ADP
fbem-29336	48	39	capital	capital	NOUN
fbem-29336	48	40	allocation	allocation	NOUN
fbem-29336	48	41	[	[	X
fbem-29336	48	42	14	14	NUM
fbem-29336	48	43	]	]	PUNCT
fbem-29336	48	44	.	.	PUNCT
fbem-29336	49	1	furthermore	furthermore	ADV
fbem-29336	49	2	,	,	PUNCT
fbem-29336	49	3	fintech	fintech	NOUN
fbem-29336	49	4	provides	provide	VERB
fbem-29336	49	5	information	information	NOUN
fbem-29336	49	6	processing	processing	NOUN
fbem-29336	49	7	and	and	CCONJ
fbem-29336	49	8	information	information	NOUN
fbem-29336	49	9	collection	collection	NOUN
fbem-29336	49	10	technology	technology	NOUN
fbem-29336	49	11	to	to	PART
fbem-29336	49	12	assist	assist	VERB
fbem-29336	49	13	banks	bank	NOUN
fbem-29336	49	14	and	and	CCONJ
fbem-29336	49	15	other	other	ADJ
fbem-29336	49	16	financial	financial	ADJ
fbem-29336	49	17	institutions	institution	NOUN
fbem-29336	49	18	in	in	ADP
fbem-29336	49	19	more	more	ADV
fbem-29336	49	20	accurately	accurately	ADV
fbem-29336	49	21	assessing	assess	VERB
fbem-29336	49	22	the	the	DET
fbem-29336	49	23	credit	credit	NOUN
fbem-29336	49	24	status	status	NOUN
fbem-29336	49	25	of	of	ADP
fbem-29336	49	26	enterprises	enterprise	NOUN
fbem-29336	49	27	,	,	PUNCT
fbem-29336	49	28	thereby	thereby	ADV
fbem-29336	49	29	reducing	reduce	VERB
fbem-29336	49	30	the	the	DET
fbem-29336	49	31	degree	degree	NOUN
fbem-29336	49	32	of	of	ADP
fbem-29336	49	33	information	information	NOUN
fbem-29336	49	34	asymmetry	asymmetry	NOUN
fbem-29336	49	35	in	in	ADP
fbem-29336	49	36	the	the	DET
fbem-29336	49	37	credit	credit	NOUN
fbem-29336	49	38	market	market	NOUN
fbem-29336	49	39	[	[	X
fbem-29336	49	40	15	15	NUM
fbem-29336	49	41	]	]	PUNCT
fbem-29336	49	42	.	.	PUNCT
fbem-29336	50	1	furthermore	furthermore	ADV
fbem-29336	50	2	,	,	PUNCT
fbem-29336	50	3	the	the	DET
fbem-29336	50	4	integration	integration	NOUN
fbem-29336	50	5	of	of	ADP
fbem-29336	50	6	technology	technology	NOUN
fbem-29336	50	7	and	and	CCONJ
fbem-29336	50	8	finance	finance	NOUN
fbem-29336	50	9	has	have	VERB
fbem-29336	50	10	the	the	DET
fbem-29336	50	11	potential	potential	NOUN
fbem-29336	50	12	to	to	PART
fbem-29336	50	13	mitigate	mitigate	VERB
fbem-29336	50	14	information	information	NOUN
fbem-29336	50	15	asymmetry	asymmetry	NOUN
fbem-29336	50	16	between	between	ADP
fbem-29336	50	17	borrowers	borrower	NOUN
fbem-29336	50	18	and	and	CCONJ
fbem-29336	50	19	lenders	lender	NOUN
fbem-29336	50	20	,	,	PUNCT
fbem-29336	50	21	facilitate	facilitate	VERB
fbem-29336	50	22	the	the	DET
fbem-29336	50	23	allocation	allocation	NOUN
fbem-29336	50	24	of	of	ADP
fbem-29336	50	25	credit	credit	NOUN
fbem-29336	50	26	resources	resource	NOUN
fbem-29336	50	27	towards	towards	ADP
fbem-29336	50	28	small	small	ADJ
fbem-29336	50	29	and	and	CCONJ
fbem-29336	50	30	mediumsized	mediumsized	ADJ
fbem-29336	50	31	technology	technology	NOUN
fbem-29336	50	32	enterprises	enterprise	NOUN
fbem-29336	50	33	,	,	PUNCT
fbem-29336	50	34	and	and	CCONJ
fbem-29336	50	35	alleviate	alleviate	VERB
fbem-29336	50	36	corporate	corporate	ADJ
fbem-29336	50	37	financing	financing	NOUN
fbem-29336	50	38	constraints	constraint	NOUN
fbem-29336	50	39	[	[	X
fbem-29336	50	40	16	16	NUM
fbem-29336	50	41	]	]	PUNCT
fbem-29336	50	42	.	.	PUNCT
fbem-29336	51	1	the	the	DET
fbem-29336	51	2	advent	advent	NOUN
fbem-29336	51	3	of	of	ADP
fbem-29336	51	4	fintech	fintech	NOUN
fbem-29336	51	5	has	have	AUX
fbem-29336	51	6	introduced	introduce	VERB
fbem-29336	51	7	information	information	NOUN
fbem-29336	51	8	processing	processing	NOUN
fbem-29336	51	9	and	and	CCONJ
fbem-29336	51	10	collection	collection	NOUN
fbem-29336	51	11	technology	technology	NOUN
fbem-29336	51	12	,	,	PUNCT
fbem-29336	51	13	cloud	cloud	NOUN
fbem-29336	51	14	financing	financing	NOUN
fbem-29336	51	15	models	model	NOUN
fbem-29336	51	16	,	,	PUNCT
fbem-29336	51	17	and	and	CCONJ
fbem-29336	51	18	information	information	NOUN
fbem-29336	51	19	platform	platform	NOUN
fbem-29336	51	20	and	and	CCONJ
fbem-29336	51	21	certification	certification	NOUN
fbem-29336	51	22	effects	effect	NOUN
fbem-29336	51	23	,	,	PUNCT
fbem-29336	51	24	which	which	PRON
fbem-29336	51	25	collectively	collectively	ADV
fbem-29336	51	26	contribute	contribute	VERB
fbem-29336	51	27	to	to	ADP
fbem-29336	51	28	the	the	DET
fbem-29336	51	29	establishment	establishment	NOUN
fbem-29336	51	30	of	of	ADP
fbem-29336	51	31	a	a	DET
fbem-29336	51	32	more	more	ADV
fbem-29336	51	33	symmetric	symmetric	ADJ
fbem-29336	51	34	information	information	NOUN
fbem-29336	51	35	environment	environment	NOUN
fbem-29336	51	36	between	between	ADP
fbem-29336	51	37	investors	investor	NOUN
fbem-29336	51	38	and	and	CCONJ
fbem-29336	51	39	enterprises	enterprise	NOUN
fbem-29336	51	40	.	.	PUNCT
fbem-29336	52	1	this	this	PRON
fbem-29336	52	2	,	,	PUNCT
fbem-29336	52	3	in	in	ADP
fbem-29336	52	4	turn	turn	NOUN
fbem-29336	52	5	,	,	PUNCT
fbem-29336	52	6	has	have	VERB
fbem-29336	52	7	the	the	DET
fbem-29336	52	8	capacity	capacity	NOUN
fbem-29336	52	9	to	to	PART
fbem-29336	52	10	effectively	effectively	ADV
fbem-29336	52	11	alleviate	alleviate	VERB
fbem-29336	52	12	the	the	DET
fbem-29336	52	13	financing	financing	NOUN
fbem-29336	52	14	constraints	constraint	NOUN
fbem-29336	52	15	faced	face	VERB
fbem-29336	52	16	by	by	ADP
fbem-29336	52	17	small	small	ADJ
fbem-29336	52	18	and	and	CCONJ
fbem-29336	52	19	medium	medium	ADJ
fbem-29336	52	20	-	-	PUNCT
fbem-29336	52	21	sized	sized	ADJ
fbem-29336	52	22	technology	technology	NOUN
fbem-29336	52	23	enterprises	enterprise	NOUN
fbem-29336	52	24	.	.	PUNCT
fbem-29336	53	1	in	in	ADP
fbem-29336	53	2	light	light	NOUN
fbem-29336	53	3	of	of	ADP
fbem-29336	53	4	the	the	DET
fbem-29336	53	5	aforementioned	aforementioned	ADJ
fbem-29336	53	6	evidence	evidence	NOUN
fbem-29336	53	7	,	,	PUNCT
fbem-29336	53	8	this	this	DET
fbem-29336	53	9	paper	paper	NOUN
fbem-29336	53	10	puts	put	VERB
fbem-29336	53	11	forth	forth	ADP
fbem-29336	53	12	the	the	DET
fbem-29336	53	13	second	second	ADJ
fbem-29336	53	14	hypothesis	hypothesis	NOUN
fbem-29336	53	15	:	:	PUNCT
fbem-29336	53	16	that	that	SCONJ
fbem-29336	53	17	fintech	fintech	NOUN
fbem-29336	53	18	can	can	AUX
fbem-29336	53	19	mitigate	mitigate	VERB
fbem-29336	53	20	the	the	DET
fbem-29336	53	21	financing	financing	NOUN
fbem-29336	53	22	constraints	constraint	NOUN
fbem-29336	53	23	faced	face	VERB
fbem-29336	53	24	by	by	ADP
fbem-29336	53	25	technology	technology	NOUN
fbem-29336	53	26	smes	sme	NOUN
fbem-29336	53	27	by	by	ADP
fbem-29336	53	28	reducing	reduce	VERB
fbem-29336	53	29	information	information	NOUN
fbem-29336	53	30	asymmetry	asymmetry	NOUN
fbem-29336	53	31	(	(	PUNCT
fbem-29336	53	32	h2	h2	PROPN
fbem-29336	53	33	)	)	PUNCT
fbem-29336	53	34	.	.	PUNCT
fbem-29336	54	1	the	the	DET
fbem-29336	54	2	study	study	NOUN
fbem-29336	54	3	empirically	empirically	ADV
fbem-29336	54	4	proves	prove	VERB
fbem-29336	54	5	hypotheses	hypothesis	NOUN
fbem-29336	54	6	1	1	NUM
fbem-29336	54	7	and	and	CCONJ
fbem-29336	54	8	2	2	NUM
fbem-29336	54	9	by	by	ADP
fbem-29336	54	10	constructing	construct	VERB
fbem-29336	54	11	a	a	DET
fbem-29336	54	12	financing	financing	NOUN
fbem-29336	54	13	constraint	constraint	NOUN
fbem-29336	54	14	model	model	NOUN
fbem-29336	54	15	of	of	ADP
fbem-29336	54	16	fintech	fintech	NOUN
fbem-29336	54	17	and	and	CCONJ
fbem-29336	54	18	technology	technology	NOUN
fbem-29336	54	19	smes	sme	NOUN
fbem-29336	54	20	and	and	CCONJ
fbem-29336	54	21	the	the	DET
fbem-29336	54	22	mediating	mediate	VERB
fbem-29336	54	23	mechanism	mechanism	NOUN
fbem-29336	54	24	of	of	ADP
fbem-29336	54	25	information	information	NOUN
fbem-29336	54	26	asymmetry	asymmetry	NOUN
fbem-29336	54	27	.	.	PUNCT
fbem-29336	55	1	3	3	X
fbem-29336	55	2	.	.	X
fbem-29336	55	3	research	research	NOUN
fbem-29336	55	4	design	design	PROPN
fbem-29336	55	5	3.1	3.1	NUM
fbem-29336	55	6	.	.	PUNCT
fbem-29336	55	7	sample	sample	NOUN
fbem-29336	55	8	selection	selection	NOUN
fbem-29336	55	9	and	and	CCONJ
fbem-29336	55	10	data	datum	NOUN
fbem-29336	55	11	sources	source	NOUN
fbem-29336	55	12	this	this	DET
fbem-29336	55	13	study	study	NOUN
fbem-29336	55	14	focuses	focus	VERB
fbem-29336	55	15	on	on	ADP
fbem-29336	55	16	science	science	NOUN
fbem-29336	55	17	and	and	CCONJ
fbem-29336	55	18	technology	technology	NOUN
fbem-29336	55	19	small	small	ADJ
fbem-29336	55	20	and	and	CCONJ
fbem-29336	55	21	medium	medium	ADJ
fbem-29336	55	22	-	-	PUNCT
fbem-29336	55	23	sized	sized	ADJ
fbem-29336	55	24	enterprises	enterprise	NOUN
fbem-29336	55	25	(	(	PUNCT
fbem-29336	55	26	smes	sme	NOUN
fbem-29336	55	27	)	)	PUNCT
fbem-29336	55	28	as	as	ADP
fbem-29336	55	29	the	the	DET
fbem-29336	55	30	subject	subject	NOUN
fbem-29336	55	31	of	of	ADP
fbem-29336	55	32	investigation	investigation	NOUN
fbem-29336	55	33	.	.	PUNCT
fbem-29336	56	1	to	to	ADP
fbem-29336	56	2	this	this	DET
fbem-29336	56	3	end	end	NOUN
fbem-29336	56	4	,	,	PUNCT
fbem-29336	56	5	it	it	PRON
fbem-29336	56	6	selects	select	VERB
fbem-29336	56	7	qualified	qualified	ADJ
fbem-29336	56	8	enterprises	enterprise	NOUN
fbem-29336	56	9	in	in	ADP
fbem-29336	56	10	the	the	DET
fbem-29336	56	11	strategic	strategic	ADJ
fbem-29336	56	12	emerging	emerge	VERB
fbem-29336	56	13	industries	industry	NOUN
fbem-29336	56	14	of	of	ADP
fbem-29336	56	15	the	the	DET
fbem-29336	56	16	science	science	NOUN
fbem-29336	56	17	and	and	CCONJ
fbem-29336	56	18	technology	technology	NOUN
fbem-29336	56	19	innovation	innovation	NOUN
fbem-29336	56	20	board	board	NOUN
fbem-29336	56	21	as	as	ADP
fbem-29336	56	22	the	the	DET
fbem-29336	56	23	research	research	NOUN
fbem-29336	56	24	sample	sample	NOUN
fbem-29336	56	25	.	.	PUNCT
fbem-29336	57	1	in	in	ADP
fbem-29336	57	2	addition	addition	NOUN
fbem-29336	57	3	,	,	PUNCT
fbem-29336	57	4	it	it	PRON
fbem-29336	57	5	selects	select	VERB
fbem-29336	57	6	the	the	DET
fbem-29336	57	7	corresponding	corresponding	ADJ
fbem-29336	57	8	range	range	NOUN
fbem-29336	57	9	of	of	ADP
fbem-29336	57	10	peking	peking	PROPN
fbem-29336	57	11	university	university	PROPN
fbem-29336	57	12	digital	digital	ADJ
fbem-29336	57	13	hp	hp	PROPN
fbem-29336	57	14	financial	financial	ADJ
fbem-29336	57	15	index	index	NOUN
fbem-29336	57	16	as	as	ADP
fbem-29336	57	17	the	the	DET
fbem-29336	57	18	core	core	NOUN
fbem-29336	57	19	explanatory	explanatory	ADJ
fbem-29336	57	20	variable	variable	NOUN
fbem-29336	57	21	.	.	PUNCT
fbem-29336	58	1	this	this	PRON
fbem-29336	58	2	is	be	AUX
fbem-29336	58	3	based	base	VERB
fbem-29336	58	4	on	on	ADP
fbem-29336	58	5	the	the	DET
fbem-29336	58	6	time	time	NOUN
fbem-29336	58	7	range	range	NOUN
fbem-29336	58	8	of	of	ADP
fbem-29336	58	9	the	the	DET
fbem-29336	58	10	explained	explain	VERB
fbem-29336	58	11	variable	variable	NOUN
fbem-29336	58	12	,	,	PUNCT
fbem-29336	58	13	namely	namely	ADV
fbem-29336	58	14	the	the	DET
fbem-29336	58	15	science	science	NOUN
fbem-29336	58	16	and	and	CCONJ
fbem-29336	58	17	technology	technology	NOUN
fbem-29336	58	18	innovation	innovation	NOUN
fbem-29336	58	19	board	board	PROPN
fbem-29336	58	20	strategic	strategic	ADJ
fbem-29336	58	21	emerging	emerge	VERB
fbem-29336	58	22	industries	industry	NOUN
fbem-29336	58	23	enterprise	enterprise	NOUN
fbem-29336	58	24	data	datum	NOUN
fbem-29336	58	25	,	,	PUNCT
fbem-29336	58	26	which	which	PRON
fbem-29336	58	27	spans	span	VERB
fbem-29336	58	28	from	from	ADP
fbem-29336	58	29	2016	2016	NUM
fbem-29336	58	30	to	to	ADP
fbem-29336	58	31	2020	2020	NUM
fbem-29336	58	32	.	.	PUNCT
fbem-29336	59	1	the	the	DET
fbem-29336	59	2	financial	financial	ADJ
fbem-29336	59	3	data	datum	NOUN
fbem-29336	59	4	for	for	ADP
fbem-29336	59	5	the	the	DET
fbem-29336	59	6	sampled	sample	VERB
fbem-29336	59	7	companies	company	NOUN
fbem-29336	59	8	were	be	AUX
fbem-29336	59	9	obtained	obtain	VERB
fbem-29336	59	10	from	from	ADP
fbem-29336	59	11	the	the	DET
fbem-29336	59	12	wind	wind	NOUN
fbem-29336	59	13	database	database	NOUN
fbem-29336	59	14	.	.	PUNCT
fbem-29336	60	1	to	to	PART
fbem-29336	60	2	ensure	ensure	VERB
fbem-29336	60	3	the	the	DET
fbem-29336	60	4	reliability	reliability	NOUN
fbem-29336	60	5	of	of	ADP
fbem-29336	60	6	the	the	DET
fbem-29336	60	7	data	datum	NOUN
fbem-29336	60	8	,	,	PUNCT
fbem-29336	60	9	samples	sample	NOUN
fbem-29336	60	10	with	with	ADP
fbem-29336	60	11	missing	miss	VERB
fbem-29336	60	12	main	main	ADJ
fbem-29336	60	13	variables	variable	NOUN
fbem-29336	60	14	within	within	ADP
fbem-29336	60	15	the	the	DET
fbem-29336	60	16	specified	specified	ADJ
fbem-29336	60	17	interval	interval	NOUN
fbem-29336	60	18	were	be	AUX
fbem-29336	60	19	excluded	exclude	VERB
fbem-29336	60	20	,	,	PUNCT
fbem-29336	60	21	outliers	outlier	NOUN
fbem-29336	60	22	were	be	AUX
fbem-29336	60	23	processed	process	VERB
fbem-29336	60	24	,	,	PUNCT
fbem-29336	60	25	and	and	CCONJ
fbem-29336	60	26	the	the	DET
fbem-29336	60	27	data	datum	NOUN
fbem-29336	60	28	were	be	AUX
fbem-29336	60	29	standardized	standardize	VERB
fbem-29336	60	30	.	.	PUNCT
fbem-29336	61	1	ultimately	ultimately	ADV
fbem-29336	61	2	,	,	PUNCT
fbem-29336	61	3	905	905	NUM
fbem-29336	61	4	enterprises	enterprise	NOUN
fbem-29336	61	5	met	meet	VERB
fbem-29336	61	6	the	the	DET
fbem-29336	61	7	requisite	requisite	ADJ
fbem-29336	61	8	standards	standard	NOUN
fbem-29336	61	9	.	.	PUNCT
fbem-29336	62	1	3.2	3.2	NUM
fbem-29336	62	2	.	.	PUNCT
fbem-29336	63	1	variable	variable	ADJ
fbem-29336	63	2	selection	selection	NOUN
fbem-29336	63	3	3.2.1	3.2.1	NUM
fbem-29336	63	4	.	.	PUNCT
fbem-29336	63	5	explained	explain	VERB
fbem-29336	63	6	variable	variable	ADJ
fbem-29336	63	7	the	the	DET
fbem-29336	63	8	extent	extent	NOUN
fbem-29336	63	9	to	to	PART
fbem-29336	63	10	which	which	PRON
fbem-29336	63	11	science	science	NOUN
fbem-29336	63	12	and	and	CCONJ
fbem-29336	63	13	technology	technology	NOUN
fbem-29336	63	14	smes	sme	NOUN
fbem-29336	63	15	are	be	AUX
fbem-29336	63	16	constrained	constrain	VERB
fbem-29336	63	17	by	by	ADP
fbem-29336	63	18	financing	finance	VERB
fbem-29336	63	19	issues	issue	NOUN
fbem-29336	63	20	.	.	PUNCT
fbem-29336	64	1	the	the	DET
fbem-29336	64	2	majority	majority	NOUN
fbem-29336	64	3	of	of	ADP
fbem-29336	64	4	domestic	domestic	ADJ
fbem-29336	64	5	and	and	CCONJ
fbem-29336	64	6	foreign	foreign	ADJ
fbem-29336	64	7	scholars	scholar	NOUN
fbem-29336	64	8	employ	employ	VERB
fbem-29336	64	9	one	one	NUM
fbem-29336	64	10	of	of	ADP
fbem-29336	64	11	three	three	NUM
fbem-29336	64	12	methods	method	NOUN
fbem-29336	64	13	to	to	PART
fbem-29336	64	14	assess	assess	VERB
fbem-29336	64	15	enterprise	enterprise	NOUN
fbem-29336	64	16	financing	financing	NOUN
fbem-29336	64	17	constraints	constraint	NOUN
fbem-29336	64	18	.	.	PUNCT
fbem-29336	65	1	1	1	X
fbem-29336	65	2	.	.	X
fbem-29336	65	3	the	the	DET
fbem-29336	65	4	model	model	NOUN
fbem-29336	65	5	regression	regression	NOUN
fbem-29336	65	6	method	method	NOUN
fbem-29336	65	7	is	be	AUX
fbem-29336	65	8	as	as	SCONJ
fbem-29336	65	9	follows	follow	VERB
fbem-29336	65	10	:	:	PUNCT
fbem-29336	66	1	fazzari	fazzari	PROPN
fbem-29336	66	2	et	et	PROPN
fbem-29336	66	3	al	al	PROPN
fbem-29336	66	4	.	.	PROPN
fbem-29336	67	1	put	put	VERB
fbem-29336	67	2	forth	forth	ADP
fbem-29336	67	3	an	an	DET
fbem-29336	67	4	investmentcash	investmentcash	NOUN
fbem-29336	67	5	flow	flow	NOUN
fbem-29336	67	6	model	model	NOUN
fbem-29336	67	7	for	for	ADP
fbem-29336	67	8	gauging	gauge	VERB
fbem-29336	67	9	enterprise	enterprise	NOUN
fbem-29336	67	10	financing	financing	NOUN
fbem-29336	67	11	constraints	constraint	NOUN
fbem-29336	67	12	with	with	ADP
fbem-29336	67	13	coefficient	coefficient	NOUN
fbem-29336	67	14	sensitivity	sensitivity	NOUN
fbem-29336	67	15	[	[	X
fbem-29336	67	16	8	8	NUM
fbem-29336	67	17	]	]	SYM
fbem-29336	67	18	.	.	PUNCT
fbem-29336	68	1	2	2	X
fbem-29336	68	2	.	.	X
fbem-29336	68	3	the	the	DET
fbem-29336	68	4	index	index	NOUN
fbem-29336	68	5	method	method	NOUN
fbem-29336	68	6	is	be	AUX
fbem-29336	68	7	a	a	DET
fbem-29336	68	8	further	further	ADJ
fbem-29336	68	9	approach	approach	NOUN
fbem-29336	68	10	to	to	ADP
fbem-29336	68	11	measuring	measure	VERB
fbem-29336	68	12	enterprise	enterprise	NOUN
fbem-29336	68	13	financing	financing	NOUN
fbem-29336	68	14	constraints	constraint	NOUN
fbem-29336	68	15	.	.	PUNCT
fbem-29336	69	1	kaplan	kaplan	PROPN
fbem-29336	69	2	,	,	PUNCT
fbem-29336	69	3	s.	s.	PROPN
fbem-29336	69	4	n.	n.	PROPN
fbem-29336	69	5	,	,	PUNCT
fbem-29336	69	6	&	&	CCONJ
fbem-29336	69	7	zingales	zingales	PROPN
fbem-29336	69	8	,	,	PUNCT
fbem-29336	69	9	l.	l.	PROPN
fbem-29336	69	10	,	,	PUNCT
fbem-29336	69	11	whited	white	VERB
fbem-29336	69	12	,	,	PUNCT
fbem-29336	69	13	t.	t.	NOUN
fbem-29336	69	14	m.	m.	NOUN
fbem-29336	69	15	,	,	PUNCT
fbem-29336	69	16	&	&	CCONJ
fbem-29336	69	17	wu	wu	PROPN
fbem-29336	69	18	,	,	PUNCT
fbem-29336	69	19	g.	g.	PROPN
fbem-29336	69	20	,	,	PUNCT
fbem-29336	69	21	and	and	CCONJ
fbem-29336	69	22	hadlock	hadlock	NOUN
fbem-29336	69	23	,	,	PUNCT
fbem-29336	69	24	c.	c.	PROPN
fbem-29336	69	25	j.	j.	PROPN
fbem-29336	69	26	,	,	PUNCT
fbem-29336	69	27	&	&	CCONJ
fbem-29336	69	28	pierce	pierce	PROPN
fbem-29336	69	29	,	,	PUNCT
fbem-29336	69	30	j.	j.	PROPN
fbem-29336	69	31	r.	r.	PROPN
fbem-29336	69	32	put	put	VERB
fbem-29336	69	33	forth	forth	ADP
fbem-29336	69	34	the	the	DET
fbem-29336	69	35	kz	kz	PROPN
fbem-29336	69	36	,	,	PUNCT
fbem-29336	69	37	192	192	NUM
fbem-29336	69	38	ww	ww	ADJ
fbem-29336	69	39	,	,	PUNCT
fbem-29336	69	40	and	and	CCONJ
fbem-29336	69	41	sa	sa	NOUN
fbem-29336	69	42	indicators	indicator	NOUN
fbem-29336	69	43	,	,	PUNCT
fbem-29336	69	44	respectively	respectively	ADV
fbem-29336	69	45	[	[	X
fbem-29336	69	46	17	17	NUM
fbem-29336	69	47	-	-	SYM
fbem-29336	69	48	19	19	NUM
fbem-29336	69	49	]	]	PUNCT
fbem-29336	69	50	.	.	PUNCT
fbem-29336	70	1	3	3	X
fbem-29336	70	2	.	.	NOUN
fbem-29336	70	3	models	model	NOUN
fbem-29336	70	4	and	and	CCONJ
fbem-29336	70	5	indicators	indicator	NOUN
fbem-29336	70	6	constructed	construct	VERB
fbem-29336	70	7	by	by	ADP
fbem-29336	70	8	domestic	domestic	ADJ
fbem-29336	70	9	scholars	scholar	NOUN
fbem-29336	70	10	include	include	VERB
fbem-29336	70	11	the	the	DET
fbem-29336	70	12	multivariate	multivariate	NOUN
fbem-29336	70	13	discriminant	discriminant	ADJ
fbem-29336	70	14	analysis	analysis	NOUN
fbem-29336	70	15	method	method	NOUN
fbem-29336	70	16	,	,	PUNCT
fbem-29336	70	17	the	the	DET
fbem-29336	70	18	logistic	logistic	ADJ
fbem-29336	70	19	regression	regression	NOUN
fbem-29336	70	20	method	method	NOUN
fbem-29336	70	21	,	,	PUNCT
fbem-29336	70	22	and	and	CCONJ
fbem-29336	70	23	the	the	DET
fbem-29336	70	24	random	random	ADJ
fbem-29336	70	25	frontier	frontier	NOUN
fbem-29336	70	26	model	model	NOUN
fbem-29336	70	27	method	method	NOUN
fbem-29336	70	28	[	[	X
fbem-29336	70	29	20	20	NUM
fbem-29336	70	30	]	]	PUNCT
fbem-29336	70	31	.	.	PUNCT
fbem-29336	71	1	this	this	DET
fbem-29336	71	2	paper	paper	NOUN
fbem-29336	71	3	employs	employ	VERB
fbem-29336	71	4	the	the	DET
fbem-29336	71	5	binary	binary	PROPN
fbem-29336	71	6	logistic	logistic	ADJ
fbem-29336	71	7	regression	regression	NOUN
fbem-29336	71	8	method	method	NOUN
fbem-29336	71	9	in	in	ADP
fbem-29336	71	10	conjunction	conjunction	NOUN
fbem-29336	71	11	with	with	ADP
fbem-29336	71	12	the	the	DET
fbem-29336	71	13	characteristics	characteristic	NOUN
fbem-29336	71	14	of	of	ADP
fbem-29336	71	15	china	china	PROPN
fbem-29336	71	16	's	's	PART
fbem-29336	71	17	science	science	NOUN
fbem-29336	71	18	and	and	CCONJ
fbem-29336	71	19	technology	technology	NOUN
fbem-29336	71	20	smes	sme	NOUN
fbem-29336	71	21	to	to	PART
fbem-29336	71	22	construct	construct	VERB
fbem-29336	71	23	appropriate	appropriate	ADJ
fbem-29336	71	24	enterprise	enterprise	NOUN
fbem-29336	71	25	financing	financing	NOUN
fbem-29336	71	26	constraint	constraint	NOUN
fbem-29336	71	27	variables	variable	NOUN
fbem-29336	71	28	[	[	X
fbem-29336	71	29	21	21	NUM
fbem-29336	71	30	]	]	PUNCT
fbem-29336	71	31	.	.	PUNCT
fbem-29336	72	1	in	in	ADP
fbem-29336	72	2	accordance	accordance	NOUN
fbem-29336	72	3	with	with	ADP
fbem-29336	72	4	extant	extant	ADJ
fbem-29336	72	5	literature	literature	NOUN
fbem-29336	72	6	,	,	PUNCT
fbem-29336	72	7	this	this	DET
fbem-29336	72	8	paper	paper	NOUN
fbem-29336	72	9	employs	employ	VERB
fbem-29336	72	10	the	the	DET
fbem-29336	72	11	interest	interest	NOUN
fbem-29336	72	12	coverage	coverage	NOUN
fbem-29336	72	13	ratio	ratio	NOUN
fbem-29336	72	14	(	(	PUNCT
fbem-29336	72	15	icr	icr	PROPN
fbem-29336	72	16	)	)	PUNCT
fbem-29336	72	17	and	and	CCONJ
fbem-29336	72	18	enterprise	enterprise	NOUN
fbem-29336	72	19	size	size	NOUN
fbem-29336	72	20	(	(	PUNCT
fbem-29336	72	21	size	size	NOUN
fbem-29336	72	22	)	)	PUNCT
fbem-29336	72	23	as	as	ADP
fbem-29336	72	24	grouping	group	VERB
fbem-29336	72	25	indicators	indicator	NOUN
fbem-29336	72	26	.	.	PUNCT
fbem-29336	73	1	the	the	DET
fbem-29336	73	2	sample	sample	NOUN
fbem-29336	73	3	data	datum	NOUN
fbem-29336	73	4	from	from	ADP
fbem-29336	73	5	each	each	DET
fbem-29336	73	6	year	year	NOUN
fbem-29336	73	7	are	be	AUX
fbem-29336	73	8	then	then	ADV
fbem-29336	73	9	arranged	arrange	VERB
fbem-29336	73	10	in	in	ADP
fbem-29336	73	11	descending	descend	VERB
fbem-29336	73	12	order	order	NOUN
fbem-29336	73	13	,	,	PUNCT
fbem-29336	73	14	with	with	ADP
fbem-29336	73	15	the	the	DET
fbem-29336	73	16	first	first	ADJ
fbem-29336	73	17	33	33	NUM
fbem-29336	73	18	%	%	NOUN
fbem-29336	73	19	of	of	ADP
fbem-29336	73	20	observations	observation	NOUN
fbem-29336	73	21	designated	designate	VERB
fbem-29336	73	22	as	as	ADP
fbem-29336	73	23	the	the	DET
fbem-29336	73	24	low	low	ADJ
fbem-29336	73	25	financing	financing	NOUN
fbem-29336	73	26	constraint	constraint	NOUN
fbem-29336	73	27	group	group	NOUN
fbem-29336	73	28	and	and	CCONJ
fbem-29336	73	29	the	the	DET
fbem-29336	73	30	last	last	ADJ
fbem-29336	73	31	33	33	NUM
fbem-29336	73	32	%	%	NOUN
fbem-29336	73	33	as	as	ADP
fbem-29336	73	34	the	the	DET
fbem-29336	73	35	high	high	ADJ
fbem-29336	73	36	financing	financing	NOUN
fbem-29336	73	37	constraint	constraint	NOUN
fbem-29336	73	38	group	group	NOUN
fbem-29336	73	39	.	.	PUNCT
fbem-29336	74	1	if	if	SCONJ
fbem-29336	74	2	both	both	DET
fbem-29336	74	3	indicators	indicator	NOUN
fbem-29336	74	4	indicate	indicate	VERB
fbem-29336	74	5	low	low	ADJ
fbem-29336	74	6	constraints	constraint	NOUN
fbem-29336	74	7	,	,	PUNCT
fbem-29336	74	8	the	the	DET
fbem-29336	74	9	sample	sample	NOUN
fbem-29336	74	10	is	be	AUX
fbem-29336	74	11	assigned	assign	VERB
fbem-29336	74	12	to	to	ADP
fbem-29336	74	13	the	the	DET
fbem-29336	74	14	low	low	ADJ
fbem-29336	74	15	constraint	constraint	NOUN
fbem-29336	74	16	group	group	NOUN
fbem-29336	74	17	(	(	PUNCT
fbem-29336	74	18	coded	code	VERB
fbem-29336	74	19	as	as	ADP
fbem-29336	74	20	1	1	NUM
fbem-29336	74	21	)	)	PUNCT
fbem-29336	74	22	;	;	PUNCT
fbem-29336	74	23	if	if	SCONJ
fbem-29336	74	24	both	both	DET
fbem-29336	74	25	indicators	indicator	NOUN
fbem-29336	74	26	indicate	indicate	VERB
fbem-29336	74	27	high	high	ADJ
fbem-29336	74	28	constraints	constraint	NOUN
fbem-29336	74	29	,	,	PUNCT
fbem-29336	74	30	the	the	DET
fbem-29336	74	31	sample	sample	NOUN
fbem-29336	74	32	is	be	AUX
fbem-29336	74	33	assigned	assign	VERB
fbem-29336	74	34	to	to	ADP
fbem-29336	74	35	the	the	DET
fbem-29336	74	36	high	high	ADJ
fbem-29336	74	37	constraint	constraint	NOUN
fbem-29336	74	38	group	group	NOUN
fbem-29336	74	39	(	(	PUNCT
fbem-29336	74	40	coded	code	VERB
fbem-29336	74	41	as	as	ADP
fbem-29336	74	42	0	0	NUM
fbem-29336	74	43	)	)	PUNCT
fbem-29336	74	44	.	.	PUNCT
fbem-29336	75	1	the	the	DET
fbem-29336	75	2	low	low	ADJ
fbem-29336	75	3	constraint	constraint	NOUN
fbem-29336	75	4	group	group	NOUN
fbem-29336	75	5	comprises	comprise	VERB
fbem-29336	75	6	136	136	NUM
fbem-29336	75	7	observations	observation	NOUN
fbem-29336	75	8	,	,	PUNCT
fbem-29336	75	9	while	while	SCONJ
fbem-29336	75	10	the	the	DET
fbem-29336	75	11	high	high	ADJ
fbem-29336	75	12	constraint	constraint	NOUN
fbem-29336	75	13	group	group	NOUN
fbem-29336	75	14	comprises	comprise	VERB
fbem-29336	75	15	175	175	NUM
fbem-29336	75	16	observations	observation	NOUN
fbem-29336	75	17	.	.	PUNCT
fbem-29336	76	1	this	this	DET
fbem-29336	76	2	paper	paper	NOUN
fbem-29336	76	3	selects	select	VERB
fbem-29336	76	4	the	the	DET
fbem-29336	76	5	debt	debt	NOUN
fbem-29336	76	6	-	-	PUNCT
fbem-29336	76	7	to	to	ADP
fbem-29336	76	8	-	-	PUNCT
fbem-29336	76	9	equity	equity	NOUN
fbem-29336	76	10	ratio	ratio	NOUN
fbem-29336	76	11	(	(	PUNCT
fbem-29336	76	12	lev	lev	NOUN
fbem-29336	76	13	)	)	PUNCT
fbem-29336	76	14	,	,	PUNCT
fbem-29336	76	15	return	return	VERB
fbem-29336	76	16	on	on	ADP
fbem-29336	76	17	assets	asset	NOUN
fbem-29336	76	18	(	(	PUNCT
fbem-29336	76	19	roa	roa	NOUN
fbem-29336	76	20	)	)	PUNCT
fbem-29336	76	21	,	,	PUNCT
fbem-29336	76	22	and	and	CCONJ
fbem-29336	76	23	net	net	ADJ
fbem-29336	76	24	working	working	NOUN
fbem-29336	76	25	capital	capital	NOUN
fbem-29336	76	26	(	(	PUNCT
fbem-29336	76	27	nwc	nwc	PROPN
fbem-29336	76	28	)	)	PUNCT
fbem-29336	76	29	as	as	ADP
fbem-29336	76	30	indicators	indicator	NOUN
fbem-29336	76	31	to	to	PART
fbem-29336	76	32	measure	measure	VERB
fbem-29336	76	33	the	the	DET
fbem-29336	76	34	financing	financing	NOUN
fbem-29336	76	35	constraints	constraint	NOUN
fbem-29336	76	36	of	of	ADP
fbem-29336	76	37	technology	technology	NOUN
fbem-29336	76	38	smes	sme	NOUN
fbem-29336	76	39	.	.	PUNCT
fbem-29336	77	1	the	the	DET
fbem-29336	77	2	following	follow	VERB
fbem-29336	77	3	logistic	logistic	ADJ
fbem-29336	77	4	regression	regression	NOUN
fbem-29336	77	5	model	model	NOUN
fbem-29336	77	6	is	be	AUX
fbem-29336	77	7	used	use	VERB
fbem-29336	77	8	to	to	PART
fbem-29336	77	9	construct	construct	VERB
fbem-29336	77	10	the	the	DET
fbem-29336	77	11	financing	financing	NOUN
fbem-29336	77	12	constraint	constraint	NOUN
fbem-29336	77	13	model	model	NOUN
fbem-29336	77	14	:	:	PUNCT
fbem-29336	77	15	𝐹𝐶	𝐹𝐶	PROPN
fbem-29336	77	16	=	=	SYM
fbem-29336	77	17	𝛼0	𝛼0	PROPN
fbem-29336	77	18	+	+	CCONJ
fbem-29336	77	19	𝛼1𝐿𝐸𝑉	𝛼1𝐿𝐸𝑉	X
fbem-29336	77	20	+	+	SYM
fbem-29336	77	21	𝛼2𝑅𝑂𝐴	𝛼2𝑅𝑂𝐴	X
fbem-29336	77	22	+	+	CCONJ
fbem-29336	77	23	𝛼3𝑁𝑊𝐶	𝛼3𝑁𝑊𝐶	NUM
fbem-29336	77	24	(	(	PUNCT
fbem-29336	77	25	1	1	NUM
fbem-29336	77	26	)	)	PUNCT
fbem-29336	77	27	3.2.2	3.2.2	NUM
fbem-29336	77	28	.	.	PUNCT
fbem-29336	78	1	core	core	NOUN
fbem-29336	78	2	explanatory	explanatory	ADJ
fbem-29336	78	3	variables	variable	NOUN
fbem-29336	78	4	the	the	DET
fbem-29336	78	5	china	china	PROPN
fbem-29336	78	6	digital	digital	PROPN
fbem-29336	78	7	inclusive	inclusive	PROPN
fbem-29336	78	8	finance	finance	PROPN
fbem-29336	78	9	index	index	NOUN
fbem-29336	78	10	,	,	PUNCT
fbem-29336	78	11	launched	launch	VERB
fbem-29336	78	12	by	by	ADP
fbem-29336	78	13	the	the	DET
fbem-29336	78	14	digital	digital	ADJ
fbem-29336	78	15	finance	finance	NOUN
fbem-29336	78	16	research	research	NOUN
fbem-29336	78	17	center	center	NOUN
fbem-29336	78	18	of	of	ADP
fbem-29336	78	19	peking	peking	PROPN
fbem-29336	78	20	university	university	NOUN
fbem-29336	78	21	,	,	PUNCT
fbem-29336	78	22	is	be	AUX
fbem-29336	78	23	based	base	VERB
fbem-29336	78	24	on	on	ADP
fbem-29336	78	25	data	datum	NOUN
fbem-29336	78	26	provided	provide	VERB
fbem-29336	78	27	by	by	ADP
fbem-29336	78	28	ant	ant	ADJ
fbem-29336	78	29	financial	financial	ADJ
fbem-29336	78	30	and	and	CCONJ
fbem-29336	78	31	measures	measure	NOUN
fbem-29336	78	32	the	the	DET
fbem-29336	78	33	development	development	NOUN
fbem-29336	78	34	level	level	NOUN
fbem-29336	78	35	of	of	ADP
fbem-29336	78	36	digital	digital	ADJ
fbem-29336	78	37	finance	finance	NOUN
fbem-29336	78	38	at	at	ADP
fbem-29336	78	39	the	the	DET
fbem-29336	78	40	provincial	provincial	ADJ
fbem-29336	78	41	and	and	CCONJ
fbem-29336	78	42	municipal	municipal	ADJ
fbem-29336	78	43	levels	level	NOUN
fbem-29336	78	44	(	(	PUNCT
fbem-29336	78	45	excluding	exclude	VERB
fbem-29336	78	46	hong	hong	PROPN
fbem-29336	78	47	kong	kong	PROPN
fbem-29336	78	48	,	,	PUNCT
fbem-29336	78	49	macao	macao	PROPN
fbem-29336	78	50	,	,	PUNCT
fbem-29336	78	51	and	and	CCONJ
fbem-29336	78	52	taiwan	taiwan	PROPN
fbem-29336	78	53	)	)	PUNCT
fbem-29336	78	54	.	.	PUNCT
fbem-29336	79	1	this	this	DET
fbem-29336	79	2	article	article	NOUN
fbem-29336	79	3	employs	employ	VERB
fbem-29336	79	4	the	the	DET
fbem-29336	79	5	index	index	NOUN
fbem-29336	79	6	's	's	PART
fbem-29336	79	7	provincial	provincial	ADJ
fbem-29336	79	8	data	datum	NOUN
fbem-29336	79	9	as	as	ADP
fbem-29336	79	10	an	an	DET
fbem-29336	79	11	indicator	indicator	NOUN
fbem-29336	79	12	to	to	PART
fbem-29336	79	13	measure	measure	VERB
fbem-29336	79	14	the	the	DET
fbem-29336	79	15	level	level	NOUN
fbem-29336	79	16	of	of	ADP
fbem-29336	79	17	fintech	fintech	NOUN
fbem-29336	79	18	development	development	NOUN
fbem-29336	79	19	.	.	PUNCT
fbem-29336	80	1	table	table	NOUN
fbem-29336	80	2	1	1	NUM
fbem-29336	80	3	.	.	PUNCT
fbem-29336	80	4	variable	variable	ADJ
fbem-29336	80	5	definition	definition	NOUN
fbem-29336	80	6	variables	variable	VERB
fbem-29336	80	7	code	code	NOUN
fbem-29336	80	8	definition	definition	NOUN
fbem-29336	80	9	financing	financing	NOUN
fbem-29336	80	10	constraints	constraint	NOUN
fbem-29336	80	11	fc	fc	VERB
fbem-29336	81	1	the	the	DET
fbem-29336	81	2	indicators	indicator	NOUN
fbem-29336	81	3	are	be	AUX
fbem-29336	81	4	constructed	construct	VERB
fbem-29336	81	5	by	by	ADP
fbem-29336	81	6	logistic	logistic	ADJ
fbem-29336	81	7	regression	regression	NOUN
fbem-29336	81	8	model	model	NOUN
fbem-29336	81	9	.	.	PUNCT
fbem-29336	82	1	fintech	fintech	NOUN
fbem-29336	82	2	development	development	NOUN
fbem-29336	82	3	indicators	indicator	NOUN
fbem-29336	82	4	fintech	fintech	PROPN
fbem-29336	82	5	china	china	PROPN
fbem-29336	82	6	digital	digital	PROPN
fbem-29336	82	7	financial	financial	ADJ
fbem-29336	82	8	inclusion	inclusion	NOUN
fbem-29336	82	9	index	index	NOUN
fbem-29336	82	10	by	by	ADP
fbem-29336	82	11	the	the	DET
fbem-29336	82	12	peking	peking	PROPN
fbem-29336	82	13	university	university	PROPN
fbem-29336	82	14	digital	digital	ADJ
fbem-29336	82	15	finance	finance	PROPN
fbem-29336	82	16	research	research	NOUN
fbem-29336	82	17	center	center	NOUN
fbem-29336	82	18	information	information	NOUN
fbem-29336	82	19	asymmetry	asymmetry	NOUN
fbem-29336	82	20	ea	ea	PROPN
fbem-29336	82	21	(	(	PUNCT
fbem-29336	82	22	net	net	ADJ
fbem-29336	82	23	profit	profit	NOUN
fbem-29336	82	24	cash	cash	NOUN
fbem-29336	82	25	flow	flow	NOUN
fbem-29336	82	26	from	from	ADP
fbem-29336	82	27	operating	operate	VERB
fbem-29336	82	28	activities	activity	NOUN
fbem-29336	82	29	)	)	PUNCT
fbem-29336	82	30	/	/	SYM
fbem-29336	82	31	total	total	ADJ
fbem-29336	82	32	assets	asset	NOUN
fbem-29336	82	33	at	at	ADP
fbem-29336	82	34	the	the	DET
fbem-29336	82	35	end	end	NOUN
fbem-29336	82	36	of	of	ADP
fbem-29336	82	37	the	the	DET
fbem-29336	82	38	previous	previous	ADJ
fbem-29336	82	39	year	year	NOUN
fbem-29336	82	40	return	return	NOUN
fbem-29336	82	41	on	on	ADP
fbem-29336	82	42	assets	asset	NOUN
fbem-29336	82	43	roa	roa	PROPN
fbem-29336	82	44	net	net	ADJ
fbem-29336	82	45	profit	profit	NOUN
fbem-29336	82	46	/	/	SYM
fbem-29336	82	47	total	total	ADJ
fbem-29336	82	48	assets	asset	NOUN
fbem-29336	82	49	debt	debt	NOUN
fbem-29336	82	50	-	-	PUNCT
fbem-29336	82	51	to	to	ADP
fbem-29336	82	52	-	-	PUNCT
fbem-29336	82	53	asset	asset	NOUN
fbem-29336	82	54	ratio	ratio	NOUN
fbem-29336	82	55	lev	lev	NOUN
fbem-29336	82	56	total	total	ADJ
fbem-29336	82	57	liabilities	liability	NOUN
fbem-29336	82	58	/	/	SYM
fbem-29336	82	59	total	total	ADJ
fbem-29336	82	60	assets	asset	NOUN
fbem-29336	82	61	net	net	ADJ
fbem-29336	82	62	working	working	PROPN
fbem-29336	82	63	capital	capital	NOUN
fbem-29336	82	64	nwc	nwc	PROPN
fbem-29336	82	65	current	current	ADJ
fbem-29336	82	66	assets	asset	NOUN
fbem-29336	82	67	current	current	ADJ
fbem-29336	82	68	liabilities	liability	NOUN
fbem-29336	82	69	growth	growth	NOUN
fbem-29336	82	70	capacity	capacity	NOUN
fbem-29336	82	71	growth	growth	NOUN
fbem-29336	82	72	year	year	NOUN
fbem-29336	82	73	-	-	PUNCT
fbem-29336	82	74	on	on	ADP
fbem-29336	82	75	-	-	PUNCT
fbem-29336	82	76	year	year	NOUN
fbem-29336	82	77	growth	growth	NOUN
fbem-29336	82	78	rate	rate	NOUN
fbem-29336	82	79	of	of	ADP
fbem-29336	82	80	total	total	ADJ
fbem-29336	82	81	operating	operating	NOUN
fbem-29336	82	82	income	income	NOUN
fbem-29336	82	83	percentage	percentage	NOUN
fbem-29336	82	84	of	of	ADP
fbem-29336	82	85	tangible	tangible	ADJ
fbem-29336	82	86	assets	asset	NOUN
fbem-29336	82	87	tar	tar	NOUN
fbem-29336	82	88	tangible	tangible	ADJ
fbem-29336	82	89	assets	asset	NOUN
fbem-29336	82	90	/	/	SYM
fbem-29336	82	91	total	total	ADJ
fbem-29336	82	92	assets	asset	NOUN
fbem-29336	82	93	return	return	VERB
fbem-29336	82	94	on	on	ADP
fbem-29336	82	95	equity	equity	PROPN
fbem-29336	82	96	roe	roe	PROPN
fbem-29336	82	97	net	net	ADJ
fbem-29336	82	98	profit	profit	NOUN
fbem-29336	82	99	/	/	SYM
fbem-29336	82	100	shareholders	shareholder	NOUN
fbem-29336	82	101	'	'	PART
fbem-29336	82	102	equity	equity	NOUN
fbem-29336	82	103	enterprise	enterprise	NOUN
fbem-29336	82	104	scale	scale	NOUN
fbem-29336	82	105	size	size	NOUN
fbem-29336	82	106	take	take	VERB
fbem-29336	82	107	the	the	DET
fbem-29336	82	108	logarithm	logarithm	NOUN
fbem-29336	82	109	of	of	ADP
fbem-29336	82	110	total	total	ADJ
fbem-29336	82	111	assets	asset	NOUN
fbem-29336	82	112	net	net	ADJ
fbem-29336	82	113	profit	profit	NOUN
fbem-29336	82	114	margin	margin	NOUN
fbem-29336	82	115	npm	npm	PROPN
fbem-29336	82	116	net	net	ADJ
fbem-29336	82	117	profit	profit	NOUN
fbem-29336	82	118	/	/	SYM
fbem-29336	82	119	sales	sale	NOUN
fbem-29336	82	120	revenue	revenue	NOUN
fbem-29336	82	121	3.3	3.3	NUM
fbem-29336	82	122	.	.	PUNCT
fbem-29336	83	1	methodology	methodology	NOUN
fbem-29336	83	2	this	this	DET
fbem-29336	83	3	paper	paper	NOUN
fbem-29336	83	4	uses	use	VERB
fbem-29336	83	5	a	a	DET
fbem-29336	83	6	fixed	fix	VERB
fbem-29336	83	7	effect	effect	NOUN
fbem-29336	83	8	model	model	NOUN
fbem-29336	83	9	to	to	PART
fbem-29336	83	10	prove	prove	VERB
fbem-29336	83	11	the	the	DET
fbem-29336	83	12	impact	impact	NOUN
fbem-29336	83	13	of	of	ADP
fbem-29336	83	14	fintech	fintech	NOUN
fbem-29336	83	15	development	development	NOUN
fbem-29336	83	16	on	on	ADP
fbem-29336	83	17	the	the	DET
fbem-29336	83	18	financing	financing	NOUN
fbem-29336	83	19	constraints	constraint	NOUN
fbem-29336	83	20	of	of	ADP
fbem-29336	83	21	technology	technology	NOUN
fbem-29336	83	22	smes	sme	NOUN
fbem-29336	83	23	and	and	CCONJ
fbem-29336	83	24	the	the	DET
fbem-29336	83	25	transmission	transmission	NOUN
fbem-29336	83	26	mechanism	mechanism	NOUN
fbem-29336	83	27	of	of	ADP
fbem-29336	83	28	information	information	NOUN
fbem-29336	83	29	asymmetry	asymmetry	NOUN
fbem-29336	83	30	.	.	PUNCT
fbem-29336	84	1	the	the	DET
fbem-29336	84	2	following	follow	VERB
fbem-29336	84	3	general	general	ADJ
fbem-29336	84	4	model	model	NOUN
fbem-29336	84	5	is	be	AUX
fbem-29336	84	6	established	establish	VERB
fbem-29336	84	7	:	:	PUNCT
fbem-29336	84	8	𝐹𝐶𝑖𝑡	𝐹𝐶𝑖𝑡	PUNCT
fbem-29336	84	9	=	=	SYM
fbem-29336	84	10	𝑎0	𝑎0	PROPN
fbem-29336	84	11	+	+	SYM
fbem-29336	84	12	𝑎1𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	𝑎1𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	PROPN
fbem-29336	84	13	+	+	CCONJ
fbem-29336	84	14	𝛿𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	𝛿𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	PROPN
fbem-29336	85	1	+	+	CCONJ
fbem-29336	85	2	𝑖𝑡	𝑖𝑡	NOUN
fbem-29336	85	3	(	(	PUNCT
fbem-29336	85	4	2	2	NUM
fbem-29336	85	5	)	)	PUNCT
fbem-29336	85	6	among	among	ADP
fbem-29336	85	7	them	they	PRON
fbem-29336	85	8	,	,	PUNCT
fbem-29336	85	9	is	be	AUX
fbem-29336	85	10	𝐹𝐶𝑖𝑡	𝐹𝐶𝑖𝑡	PROPN
fbem-29336	85	11	the	the	DET
fbem-29336	85	12	financing	financing	NOUN
fbem-29336	85	13	constraints	constraint	NOUN
fbem-29336	85	14	of	of	ADP
fbem-29336	85	15	technology	technology	NOUN
fbem-29336	85	16	-	-	PUNCT
fbem-29336	85	17	based	base	VERB
fbem-29336	85	18	smes	sme	NOUN
fbem-29336	85	19	;	;	PUNCT
fbem-29336	85	20	𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	PROPN
fbem-29336	85	21	is	be	AUX
fbem-29336	85	22	the	the	DET
fbem-29336	85	23	degree	degree	NOUN
fbem-29336	85	24	of	of	ADP
fbem-29336	85	25	development	development	NOUN
fbem-29336	85	26	of	of	ADP
fbem-29336	85	27	fintech	fintech	NOUN
fbem-29336	85	28	;	;	PUNCT
fbem-29336	85	29	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	PROPN
fbem-29336	85	30	is	be	AUX
fbem-29336	85	31	a	a	DET
fbem-29336	85	32	series	series	NOUN
fbem-29336	85	33	of	of	ADP
fbem-29336	85	34	control	control	NOUN
fbem-29336	85	35	variables	variable	NOUN
fbem-29336	85	36	;	;	PUNCT
fbem-29336	85	37	𝑖𝑡	𝑖𝑡	NOUN
fbem-29336	85	38	is	be	AUX
fbem-29336	85	39	the	the	DET
fbem-29336	85	40	random	random	ADJ
fbem-29336	85	41	error	error	NOUN
fbem-29336	85	42	term	term	NOUN
fbem-29336	85	43	;	;	PUNCT
fbem-29336	85	44	𝑎0	𝑎0	PROPN
fbem-29336	85	45	is	be	AUX
fbem-29336	85	46	the	the	DET
fbem-29336	85	47	intercept	intercept	NOUN
fbem-29336	85	48	term	term	NOUN
fbem-29336	85	49	;	;	PUNCT
fbem-29336	85	50	𝛿	𝛿	PRON
fbem-29336	85	51	is	be	AUX
fbem-29336	85	52	the	the	DET
fbem-29336	85	53	estimated	estimate	VERB
fbem-29336	85	54	coefficient	coefficient	NOUN
fbem-29336	85	55	of	of	ADP
fbem-29336	85	56	the	the	DET
fbem-29336	85	57	control	control	NOUN
fbem-29336	85	58	variable	variable	NOUN
fbem-29336	85	59	;	;	PUNCT
fbem-29336	85	60	𝑎1	𝑎1	PRON
fbem-29336	85	61	is	be	AUX
fbem-29336	85	62	𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	PROPN
fbem-29336	85	63	the	the	DET
fbem-29336	85	64	estimated	estimate	VERB
fbem-29336	85	65	coefficient	coefficient	NOUN
fbem-29336	85	66	of	of	ADP
fbem-29336	85	67	.	.	PUNCT
fbem-29336	86	1	if	if	SCONJ
fbem-29336	86	2	𝑎1<0	𝑎1<0	PROPN
fbem-29336	86	3	,	,	PUNCT
fbem-29336	86	4	then	then	ADV
fbem-29336	86	5	the	the	DET
fbem-29336	86	6	development	development	NOUN
fbem-29336	86	7	of	of	ADP
fbem-29336	86	8	fintech	fintech	NOUN
fbem-29336	86	9	can	can	AUX
fbem-29336	86	10	alleviate	alleviate	VERB
fbem-29336	86	11	the	the	DET
fbem-29336	86	12	financing	financing	NOUN
fbem-29336	86	13	constraints	constraint	NOUN
fbem-29336	86	14	of	of	ADP
fbem-29336	86	15	technology	technology	NOUN
fbem-29336	86	16	-	-	PUNCT
fbem-29336	86	17	based	base	VERB
fbem-29336	86	18	smes	sme	NOUN
fbem-29336	86	19	.	.	PUNCT
fbem-29336	87	1	3.4	3.4	NUM
fbem-29336	87	2	.	.	PUNCT
fbem-29336	88	1	mediation	mediation	NOUN
fbem-29336	88	2	effect	effect	NOUN
fbem-29336	88	3	model	model	NOUN
fbem-29336	88	4	this	this	DET
fbem-29336	88	5	paper	paper	NOUN
fbem-29336	88	6	posits	posit	NOUN
fbem-29336	88	7	that	that	SCONJ
fbem-29336	88	8	the	the	DET
fbem-29336	88	9	advancement	advancement	NOUN
fbem-29336	88	10	of	of	ADP
fbem-29336	88	11	financial	financial	ADJ
fbem-29336	88	12	technology	technology	NOUN
fbem-29336	88	13	(	(	PUNCT
fbem-29336	88	14	fintech	fintech	NOUN
fbem-29336	88	15	)	)	PUNCT
fbem-29336	88	16	can	can	AUX
fbem-29336	88	17	mitigate	mitigate	VERB
fbem-29336	88	18	information	information	NOUN
fbem-29336	88	19	asymmetry	asymmetry	NOUN
fbem-29336	88	20	,	,	PUNCT
fbem-29336	88	21	thereby	thereby	ADV
fbem-29336	88	22	alleviating	alleviate	VERB
fbem-29336	88	23	the	the	DET
fbem-29336	88	24	financing	financing	NOUN
fbem-29336	88	25	constraints	constraint	NOUN
fbem-29336	88	26	faced	face	VERB
fbem-29336	88	27	by	by	ADP
fbem-29336	88	28	technology	technology	NOUN
fbem-29336	88	29	-	-	PUNCT
fbem-29336	88	30	oriented	orient	VERB
fbem-29336	88	31	small	small	ADJ
fbem-29336	88	32	and	and	CCONJ
fbem-29336	88	33	medium	medium	ADJ
fbem-29336	88	34	-	-	PUNCT
fbem-29336	88	35	sized	sized	ADJ
fbem-29336	88	36	enterprises	enterprise	NOUN
fbem-29336	88	37	(	(	PUNCT
fbem-29336	88	38	smes	sme	NOUN
fbem-29336	88	39	)	)	PUNCT
fbem-29336	88	40	.	.	PUNCT
fbem-29336	89	1	to	to	PART
fbem-29336	89	2	substantiate	substantiate	VERB
fbem-29336	89	3	the	the	DET
fbem-29336	89	4	existence	existence	NOUN
fbem-29336	89	5	of	of	ADP
fbem-29336	89	6	this	this	DET
fbem-29336	89	7	mechanism	mechanism	NOUN
fbem-29336	89	8	,	,	PUNCT
fbem-29336	89	9	a	a	DET
fbem-29336	89	10	new	new	ADJ
fbem-29336	89	11	equation	equation	NOUN
fbem-29336	89	12	will	will	AUX
fbem-29336	89	13	be	be	AUX
fbem-29336	89	14	formulated	formulate	VERB
fbem-29336	89	15	and	and	CCONJ
fbem-29336	89	16	validated	validate	VERB
fbem-29336	89	17	based	base	VERB
fbem-29336	89	18	on	on	ADP
fbem-29336	89	19	the	the	DET
fbem-29336	89	20	overarching	overarching	ADJ
fbem-29336	89	21	model	model	NOUN
fbem-29336	89	22	.	.	PUNCT
fbem-29336	90	1	bhattacharya	bhattacharya	PROPN
fbem-29336	90	2	et	et	PROPN
fbem-29336	90	3	al	al	PROPN
fbem-29336	90	4	.	.	PROPN
fbem-29336	91	1	(	(	PUNCT
fbem-29336	91	2	2003	2003	NUM
fbem-29336	91	3	)	)	PUNCT
fbem-29336	91	4	put	put	VERB
fbem-29336	91	5	forth	forth	ADP
fbem-29336	91	6	the	the	DET
fbem-29336	91	7	proposition	proposition	NOUN
fbem-29336	91	8	that	that	SCONJ
fbem-29336	91	9	earnings	earning	NOUN
fbem-29336	91	10	aggressiveness	aggressiveness	NOUN
fbem-29336	91	11	and	and	CCONJ
fbem-29336	91	12	loss	loss	NOUN
fbem-29336	91	13	aversion	aversion	NOUN
fbem-29336	91	14	indicators	indicator	NOUN
fbem-29336	91	15	may	may	AUX
fbem-29336	91	16	be	be	AUX
fbem-29336	91	17	employed	employ	VERB
fbem-29336	91	18	to	to	PART
fbem-29336	91	19	ascertain	ascertain	VERB
fbem-29336	91	20	the	the	DET
fbem-29336	91	21	degree	degree	NOUN
fbem-29336	91	22	of	of	ADP
fbem-29336	91	23	transparency	transparency	NOUN
fbem-29336	91	24	in	in	ADP
fbem-29336	91	25	accounting	accounting	NOUN
fbem-29336	91	26	information	information	NOUN
fbem-29336	92	1	[	[	X
fbem-29336	92	2	22	22	NUM
fbem-29336	92	3	]	]	PUNCT
fbem-29336	92	4	.	.	PUNCT
fbem-29336	93	1	as	as	ADP
fbem-29336	93	2	corporate	corporate	ADJ
fbem-29336	93	3	transparency	transparency	NOUN
fbem-29336	93	4	increases	increase	NOUN
fbem-29336	93	5	,	,	PUNCT
fbem-29336	93	6	the	the	DET
fbem-29336	93	7	degree	degree	NOUN
fbem-29336	93	8	of	of	ADP
fbem-29336	93	9	information	information	NOUN
fbem-29336	93	10	asymmetry	asymmetry	NOUN
fbem-29336	93	11	between	between	ADP
fbem-29336	93	12	investors	investor	NOUN
fbem-29336	93	13	is	be	AUX
fbem-29336	93	14	reduced	reduce	VERB
fbem-29336	93	15	.	.	PUNCT
fbem-29336	94	1	in	in	ADP
fbem-29336	94	2	the	the	DET
fbem-29336	94	3	research	research	NOUN
fbem-29336	94	4	of	of	ADP
fbem-29336	94	5	you	you	PRON
fbem-29336	94	6	,	,	PUNCT
fbem-29336	94	7	jiaxing	jiaxing	PROPN
fbem-29336	94	8	&	&	CCONJ
fbem-29336	94	9	li	li	PROPN
fbem-29336	94	10	,	,	PUNCT
fbem-29336	94	11	bin	bin	PROPN
fbem-29336	94	12	.	.	PROPN
fbem-29336	94	13	,	,	PUNCT
fbem-29336	94	14	earnings	earning	NOUN
fbem-29336	94	15	aggressiveness	aggressiveness	NOUN
fbem-29336	94	16	(	(	PUNCT
fbem-29336	94	17	ea	ea	NOUN
fbem-29336	94	18	)	)	PUNCT
fbem-29336	94	19	is	be	AUX
fbem-29336	94	20	used	use	VERB
fbem-29336	94	21	to	to	PART
fbem-29336	94	22	measure	measure	VERB
fbem-29336	94	23	the	the	DET
fbem-29336	94	24	degree	degree	NOUN
fbem-29336	94	25	of	of	ADP
fbem-29336	94	26	information	information	NOUN
fbem-29336	94	27	asymmetry	asymmetry	NOUN
fbem-29336	95	1	[	[	X
fbem-29336	95	2	23	23	NUM
fbem-29336	95	3	]	]	PUNCT
fbem-29336	95	4	.	.	PUNCT
fbem-29336	96	1	it	it	PRON
fbem-29336	96	2	is	be	AUX
fbem-29336	96	3	posited	posit	VERB
fbem-29336	96	4	that	that	SCONJ
fbem-29336	96	5	as	as	ADP
fbem-29336	96	6	ea	ea	NOUN
fbem-29336	96	7	increases	increase	NOUN
fbem-29336	96	8	,	,	PUNCT
fbem-29336	96	9	so	so	ADV
fbem-29336	96	10	too	too	ADV
fbem-29336	96	11	does	do	VERB
fbem-29336	96	12	the	the	DET
fbem-29336	96	13	degree	degree	NOUN
fbem-29336	96	14	of	of	ADP
fbem-29336	96	15	information	information	NOUN
fbem-29336	96	16	asymmetry	asymmetry	NOUN
fbem-29336	96	17	.	.	PUNCT
fbem-29336	97	1	the	the	DET
fbem-29336	97	2	following	follow	VERB
fbem-29336	97	3	equation	equation	NOUN
fbem-29336	97	4	group	group	NOUN
fbem-29336	97	5	is	be	AUX
fbem-29336	97	6	constructed	construct	VERB
fbem-29336	97	7	:	:	PUNCT
fbem-29336	97	8	𝐸𝐴𝑖𝑡	𝐸𝐴𝑖𝑡	X
fbem-29336	97	9	=	=	PUNCT
fbem-29336	97	10	(	(	PUNCT
fbem-29336	97	11	𝑁𝑃𝑖𝑡	𝑁𝑃𝑖𝑡	PROPN
fbem-29336	97	12	−	−	PROPN
fbem-29336	97	13	𝑁𝐶𝐹𝑖𝑡)/𝐴𝑠𝑠𝑒𝑡𝑖𝑡−1	𝑁𝐶𝐹𝑖𝑡)/𝐴𝑠𝑠𝑒𝑡𝑖𝑡−1	NOUN
fbem-29336	97	14	(	(	PUNCT
fbem-29336	97	15	3	3	NUM
fbem-29336	97	16	)	)	PUNCT
fbem-29336	97	17	𝐸𝐴𝑖𝑡	𝐸𝐴𝑖𝑡	X
fbem-29336	97	18	=	=	PUNCT
fbem-29336	98	1	𝑎0	𝑎0	PROPN
fbem-29336	98	2	+	+	SYM
fbem-29336	98	3	𝑎1𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	𝑎1𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	PROPN
fbem-29336	98	4	+	+	CCONJ
fbem-29336	98	5	𝑑𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	𝑑𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	PROPN
fbem-29336	98	6	+	+	CCONJ
fbem-29336	98	7	𝑒𝑖𝑡	𝑒𝑖𝑡	PROPN
fbem-29336	98	8	(	(	PUNCT
fbem-29336	98	9	4	4	NUM
fbem-29336	98	10	)	)	PUNCT
fbem-29336	98	11	𝐹𝐶𝑖𝑡	𝐹𝐶𝑖𝑡	PROPN
fbem-29336	98	12	=	=	PUNCT
fbem-29336	99	1	𝑎0	𝑎0	PROPN
fbem-29336	99	2	+	+	SYM
fbem-29336	99	3	𝑎1𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	𝑎1𝐹𝑖𝑛𝑡𝑒𝑐ℎ𝑖𝑡	PROPN
fbem-29336	99	4	+	+	NUM
fbem-29336	99	5	𝜑𝐸𝐴𝑖𝑡	𝜑𝐸𝐴𝑖𝑡	NOUN
fbem-29336	99	6	+	+	CCONJ
fbem-29336	99	7	𝛿𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	𝛿𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑖𝑡	PROPN
fbem-29336	100	1	+	+	CCONJ
fbem-29336	100	2	𝑖𝑡	𝑖𝑡	NOUN
fbem-29336	100	3	(	(	PUNCT
fbem-29336	100	4	5	5	NUM
fbem-29336	100	5	)	)	PUNCT
fbem-29336	100	6	in	in	ADP
fbem-29336	100	7	the	the	DET
fbem-29336	100	8	aforementioned	aforementioned	ADJ
fbem-29336	100	9	indicators	indicator	NOUN
fbem-29336	100	10	,	,	PUNCT
fbem-29336	100	11	the	the	DET
fbem-29336	100	12	subscripts	subscript	NOUN
fbem-29336	100	13	"	"	PUNCT
fbem-29336	100	14	i	i	NOUN
fbem-29336	100	15	"	"	PUNCT
fbem-29336	100	16	and	and	CCONJ
fbem-29336	100	17	"	"	PUNCT
fbem-29336	100	18	t	t	PROPN
fbem-29336	100	19	"	"	PUNCT
fbem-29336	100	20	represent	represent	VERB
fbem-29336	100	21	the	the	DET
fbem-29336	100	22	individual	individual	ADJ
fbem-29336	100	23	enterprise	enterprise	NOUN
fbem-29336	100	24	and	and	CCONJ
fbem-29336	100	25	year	year	NOUN
fbem-29336	100	26	,	,	PUNCT
fbem-29336	100	27	respectively	respectively	ADV
fbem-29336	100	28	.	.	PUNCT
fbem-29336	101	1	the	the	DET
fbem-29336	101	2	variable	variable	ADJ
fbem-29336	101	3	"	"	PUNCT
fbem-29336	101	4	ea	ea	NOUN
fbem-29336	101	5	"	"	PUNCT
fbem-29336	101	6	represents	represent	VERB
fbem-29336	101	7	earnings	earning	NOUN
fbem-29336	101	8	aggressiveness	aggressiveness	NOUN
fbem-29336	101	9	,	,	PUNCT
fbem-29336	101	10	the	the	DET
fbem-29336	101	11	variable	variable	ADJ
fbem-29336	101	12	"	"	PUNCT
fbem-29336	101	13	np	np	INTJ
fbem-29336	101	14	"	"	PUNCT
fbem-29336	101	15	represents	represent	VERB
fbem-29336	101	16	net	net	ADJ
fbem-29336	101	17	profit	profit	NOUN
fbem-29336	101	18	in	in	ADP
fbem-29336	101	19	year	year	NOUN
fbem-29336	101	20	t	t	PROPN
fbem-29336	101	21	,	,	PUNCT
fbem-29336	101	22	the	the	DET
fbem-29336	101	23	variable	variable	ADJ
fbem-29336	101	24	"	"	PUNCT
fbem-29336	101	25	ncf	ncf	NOUN
fbem-29336	101	26	"	"	PUNCT
fbem-29336	101	27	represents	represent	VERB
fbem-29336	101	28	net	net	ADJ
fbem-29336	101	29	cash	cash	NOUN
fbem-29336	101	30	flow	flow	NOUN
fbem-29336	101	31	from	from	ADP
fbem-29336	101	32	operating	operate	VERB
fbem-29336	101	33	activities	activity	NOUN
fbem-29336	101	34	of	of	ADP
fbem-29336	101	35	the	the	DET
fbem-29336	101	36	company	company	NOUN
fbem-29336	101	37	in	in	ADP
fbem-29336	101	38	year	year	NOUN
fbem-29336	101	39	t	t	PROPN
fbem-29336	101	40	,	,	PUNCT
fbem-29336	101	41	and	and	CCONJ
fbem-29336	101	42	the	the	DET
fbem-29336	101	43	variable	variable	ADJ
fbem-29336	101	44	"	"	PUNCT
fbem-29336	101	45	ta	ta	X
fbem-29336	101	46	"	"	PUNCT
fbem-29336	101	47	represents	represent	VERB
fbem-29336	101	48	total	total	ADJ
fbem-29336	101	49	assets	asset	NOUN
fbem-29336	101	50	at	at	ADP
fbem-29336	101	51	the	the	DET
fbem-29336	101	52	end	end	NOUN
fbem-29336	101	53	of	of	ADP
fbem-29336	101	54	year	year	NOUN
fbem-29336	101	55	t-1	t-1	PROPN
fbem-29336	101	56	.	.	PUNCT
fbem-29336	102	1	equation	equation	NOUN
fbem-29336	102	2	(	(	PUNCT
fbem-29336	102	3	5	5	X
fbem-29336	102	4	)	)	PUNCT
fbem-29336	102	5	introduces	introduce	VERB
fbem-29336	102	6	the	the	DET
fbem-29336	102	7	earnings	earning	NOUN
fbem-29336	102	8	aggressiveness	aggressiveness	NOUN
fbem-29336	102	9	(	(	PUNCT
fbem-29336	102	10	ea	ea	NOUN
fbem-29336	102	11	)	)	PUNCT
fbem-29336	102	12	proxy	proxy	ADJ
fbem-29336	102	13	variable	variable	NOUN
fbem-29336	102	14	as	as	ADP
fbem-29336	102	15	a	a	DET
fbem-29336	102	16	measurement	measurement	NOUN
fbem-29336	102	17	indicator	indicator	NOUN
fbem-29336	102	18	based	base	VERB
fbem-29336	102	19	on	on	ADP
fbem-29336	102	20	the	the	DET
fbem-29336	102	21	overall	overall	ADJ
fbem-29336	102	22	model	model	NOUN
fbem-29336	102	23	.	.	PUNCT
fbem-29336	103	1	4	4	X
fbem-29336	103	2	.	.	X
fbem-29336	103	3	empirical	empirical	ADJ
fbem-29336	103	4	results	result	NOUN
fbem-29336	103	5	4.1	4.1	NUM
fbem-29336	103	6	.	.	PUNCT
fbem-29336	104	1	financing	financing	NOUN
fbem-29336	104	2	constraint	constraint	NOUN
fbem-29336	104	3	index	index	NOUN
fbem-29336	104	4	construction	construction	NOUN
fbem-29336	104	5	results	result	VERB
fbem-29336	104	6	a	a	DET
fbem-29336	104	7	difference	difference	NOUN
fbem-29336	104	8	t	t	NOUN
fbem-29336	104	9	-	-	PUNCT
fbem-29336	104	10	test	test	NOUN
fbem-29336	104	11	was	be	AUX
fbem-29336	104	12	conducted	conduct	VERB
fbem-29336	104	13	on	on	ADP
fbem-29336	104	14	the	the	DET
fbem-29336	104	15	enterprise	enterprise	NOUN
fbem-29336	104	16	financing	financing	NOUN
fbem-29336	104	17	constraint	constraint	NOUN
fbem-29336	104	18	index	index	NOUN
fbem-29336	104	19	of	of	ADP
fbem-29336	104	20	model	model	NOUN
fbem-29336	104	21	1	1	NUM
fbem-29336	104	22	.	.	PUNCT
fbem-29336	105	1	the	the	DET
fbem-29336	105	2	results	result	NOUN
fbem-29336	105	3	193	193	NUM
fbem-29336	105	4	demonstrated	demonstrate	VERB
fbem-29336	105	5	that	that	SCONJ
fbem-29336	105	6	the	the	DET
fbem-29336	105	7	selected	select	VERB
fbem-29336	105	8	index	index	NOUN
fbem-29336	105	9	exhibited	exhibit	VERB
fbem-29336	105	10	notable	notable	ADJ
fbem-29336	105	11	disparities	disparity	NOUN
fbem-29336	105	12	between	between	ADP
fbem-29336	105	13	the	the	DET
fbem-29336	105	14	two	two	NUM
fbem-29336	105	15	groups	group	NOUN
fbem-29336	105	16	of	of	ADP
fbem-29336	105	17	samples	sample	NOUN
fbem-29336	105	18	,	,	PUNCT
fbem-29336	105	19	thereby	thereby	ADV
fbem-29336	105	20	substantiating	substantiate	VERB
fbem-29336	105	21	the	the	DET
fbem-29336	105	22	effectiveness	effectiveness	NOUN
fbem-29336	105	23	of	of	ADP
fbem-29336	105	24	the	the	DET
fbem-29336	105	25	index	index	NOUN
fbem-29336	105	26	.	.	PUNCT
fbem-29336	106	1	furthermore	furthermore	ADV
fbem-29336	106	2	,	,	PUNCT
fbem-29336	106	3	the	the	DET
fbem-29336	106	4	inflation	inflation	NOUN
fbem-29336	106	5	factor	factor	NOUN
fbem-29336	106	6	calculation	calculation	NOUN
fbem-29336	106	7	yielded	yield	VERB
fbem-29336	106	8	an	an	DET
fbem-29336	106	9	average	average	ADJ
fbem-29336	106	10	inflation	inflation	NOUN
fbem-29336	106	11	factor	factor	NOUN
fbem-29336	106	12	of	of	ADP
fbem-29336	106	13	1.06	1.06	NUM
fbem-29336	106	14	,	,	PUNCT
fbem-29336	106	15	which	which	PRON
fbem-29336	106	16	was	be	AUX
fbem-29336	106	17	<	<	X
fbem-29336	106	18	2	2	NUM
fbem-29336	106	19	,	,	PUNCT
fbem-29336	106	20	indicating	indicate	VERB
fbem-29336	106	21	the	the	DET
fbem-29336	106	22	absence	absence	NOUN
fbem-29336	106	23	of	of	ADP
fbem-29336	106	24	significant	significant	ADJ
fbem-29336	106	25	multicollinearity	multicollinearity	NOUN
fbem-29336	106	26	between	between	ADP
fbem-29336	106	27	the	the	DET
fbem-29336	106	28	variables	variable	NOUN
fbem-29336	106	29	.	.	PUNCT
fbem-29336	107	1	table	table	NOUN
fbem-29336	107	2	2	2	NUM
fbem-29336	107	3	.	.	X
fbem-29336	107	4	differential	differential	PROPN
fbem-29336	107	5	t	t	NOUN
fbem-29336	107	6	-	-	PUNCT
fbem-29336	107	7	tests	test	NOUN
fbem-29336	107	8	and	and	CCONJ
fbem-29336	107	9	inflation	inflation	NOUN
fbem-29336	107	10	factors	factor	VERB
fbem-29336	107	11	variable	variable	ADJ
fbem-29336	107	12	financing	financing	NOUN
fbem-29336	107	13	constraints	constraint	VERB
fbem-29336	107	14	dependent	dependent	ADJ
fbem-29336	107	15	variable	variable	ADJ
fbem-29336	107	16	mean	mean	NOUN
fbem-29336	107	17	difference	difference	NOUN
fbem-29336	107	18	and	and	CCONJ
fbem-29336	107	19	significance	significance	NOUN
fbem-29336	107	20	expansion	expansion	NOUN
fbem-29336	107	21	factor	factor	NOUN
fbem-29336	107	22	roa	roa	PROPN
fbem-29336	107	23	high	high	PROPN
fbem-29336	107	24	constraint	constraint	PROPN
fbem-29336	107	25	175	175	NUM
fbem-29336	107	26	1.029∗∗∗	1.029∗∗∗	NUM
fbem-29336	107	27	1.09	1.09	NUM
fbem-29336	107	28	low	low	ADJ
fbem-29336	107	29	constraint	constraint	NOUN
fbem-29336	107	30	136	136	NUM
fbem-29336	107	31	lev	lev	NOUN
fbem-29336	107	32	high	high	ADJ
fbem-29336	107	33	constraint	constraint	NOUN
fbem-29336	108	1	175	175	NUM
fbem-29336	108	2	−0.927∗∗∗	−0.927∗∗∗	ADV
fbem-29336	108	3	1.06	1.06	NUM
fbem-29336	108	4	low	low	ADJ
fbem-29336	108	5	constraint	constraint	NOUN
fbem-29336	108	6	136	136	NUM
fbem-29336	108	7	nwc	nwc	PROPN
fbem-29336	108	8	high	high	ADJ
fbem-29336	108	9	constraint	constraint	NOUN
fbem-29336	108	10	175	175	NUM
fbem-29336	108	11	0.446∗∗∗	0.446∗∗∗	NUM
fbem-29336	108	12	1.03	1.03	NUM
fbem-29336	108	13	low	low	ADJ
fbem-29336	108	14	constraint	constraint	NOUN
fbem-29336	108	15	136	136	NUM
fbem-29336	108	16	as	as	SCONJ
fbem-29336	108	17	evidenced	evidence	VERB
fbem-29336	108	18	in	in	ADP
fbem-29336	108	19	table	table	NOUN
fbem-29336	108	20	2	2	NUM
fbem-29336	108	21	,	,	PUNCT
fbem-29336	108	22	the	the	DET
fbem-29336	108	23	results	result	NOUN
fbem-29336	108	24	of	of	ADP
fbem-29336	108	25	the	the	DET
fbem-29336	108	26	logistic	logistic	ADJ
fbem-29336	108	27	regression	regression	NOUN
fbem-29336	108	28	analysis	analysis	NOUN
fbem-29336	108	29	indicate	indicate	VERB
fbem-29336	108	30	that	that	SCONJ
fbem-29336	108	31	the	the	DET
fbem-29336	108	32	wald	wald	PROPN
fbem-29336	108	33	test	test	NOUN
fbem-29336	108	34	results	result	NOUN
fbem-29336	108	35	are	be	AUX
fbem-29336	108	36	all	all	ADV
fbem-29336	108	37	below	below	ADP
fbem-29336	108	38	the	the	DET
fbem-29336	108	39	5	5	NUM
fbem-29336	108	40	%	%	NOUN
fbem-29336	108	41	significance	significance	NOUN
fbem-29336	108	42	level	level	NOUN
fbem-29336	108	43	,	,	PUNCT
fbem-29336	108	44	thereby	thereby	ADV
fbem-29336	108	45	substantiating	substantiate	VERB
fbem-29336	108	46	the	the	DET
fbem-29336	108	47	existence	existence	NOUN
fbem-29336	108	48	of	of	ADP
fbem-29336	108	49	a	a	DET
fbem-29336	108	50	discernible	discernible	ADJ
fbem-29336	108	51	linear	linear	NOUN
fbem-29336	108	52	relationship	relationship	NOUN
fbem-29336	108	53	between	between	ADP
fbem-29336	108	54	nwc	nwc	PROPN
fbem-29336	108	55	,	,	PUNCT
fbem-29336	108	56	lev	lev	NOUN
fbem-29336	108	57	,	,	PUNCT
fbem-29336	108	58	roa	roa	PROPN
fbem-29336	108	59	,	,	PUNCT
fbem-29336	108	60	and	and	CCONJ
fbem-29336	108	61	the	the	DET
fbem-29336	108	62	degree	degree	NOUN
fbem-29336	108	63	of	of	ADP
fbem-29336	108	64	financing	financing	NOUN
fbem-29336	108	65	constraints	constraint	NOUN
fbem-29336	108	66	faced	face	VERB
fbem-29336	108	67	by	by	ADP
fbem-29336	108	68	technology	technology	NOUN
fbem-29336	108	69	smes	sme	NOUN
fbem-29336	108	70	.	.	PUNCT
fbem-29336	109	1	the	the	DET
fbem-29336	109	2	roc	roc	PROPN
fbem-29336	109	3	curve	curve	NOUN
fbem-29336	109	4	is	be	AUX
fbem-29336	109	5	employed	employ	VERB
fbem-29336	109	6	to	to	PART
fbem-29336	109	7	assess	assess	VERB
fbem-29336	109	8	the	the	DET
fbem-29336	109	9	goodness	goodness	NOUN
fbem-29336	109	10	of	of	ADP
fbem-29336	109	11	fit	fit	NOUN
fbem-29336	109	12	of	of	ADP
fbem-29336	109	13	the	the	DET
fbem-29336	109	14	regression	regression	NOUN
fbem-29336	109	15	model	model	NOUN
fbem-29336	109	16	,	,	PUNCT
fbem-29336	109	17	with	with	ADP
fbem-29336	109	18	the	the	DET
fbem-29336	109	19	model	model	NOUN
fbem-29336	109	20	exhibiting	exhibit	VERB
fbem-29336	109	21	an	an	DET
fbem-29336	109	22	accuracy	accuracy	NOUN
fbem-29336	109	23	of	of	ADP
fbem-29336	109	24	97.65	97.65	NUM
fbem-29336	109	25	%	%	NOUN
fbem-29336	109	26	.	.	PUNCT
fbem-29336	110	1	in	in	ADP
fbem-29336	110	2	light	light	NOUN
fbem-29336	110	3	of	of	ADP
fbem-29336	110	4	the	the	DET
fbem-29336	110	5	aforementioned	aforementione	VERB
fbem-29336	110	6	logistic	logistic	ADJ
fbem-29336	110	7	regression	regression	NOUN
fbem-29336	110	8	results	result	NOUN
fbem-29336	110	9	,	,	PUNCT
fbem-29336	110	10	the	the	DET
fbem-29336	110	11	financing	financing	NOUN
fbem-29336	110	12	constraint	constraint	NOUN
fbem-29336	110	13	indicators	indicator	NOUN
fbem-29336	110	14	proposed	propose	VERB
fbem-29336	110	15	in	in	ADP
fbem-29336	110	16	this	this	DET
fbem-29336	110	17	study	study	NOUN
fbem-29336	110	18	are	be	AUX
fbem-29336	110	19	as	as	SCONJ
fbem-29336	110	20	follows	follow	VERB
fbem-29336	110	21	:	:	PUNCT
fbem-29336	110	22	𝐹𝐶	𝐹𝐶	PROPN
fbem-29336	110	23	=	=	SYM
fbem-29336	110	24	−1.186	−1.186	PROPN
fbem-29336	110	25	+	+	CCONJ
fbem-29336	110	26	11.113𝑅𝑂𝐴	11.113𝑅𝑂𝐴	NUM
fbem-29336	110	27	−	−	NUM
fbem-29336	110	28	1.260𝐿𝐸𝑉	1.260𝐿𝐸𝑉	NUM
fbem-29336	110	29	+	+	CCONJ
fbem-29336	110	30	2.709𝑁𝑊𝐶(6	2.709𝑁𝑊𝐶(6	NUM
fbem-29336	110	31	)	)	PUNCT
fbem-29336	110	32	table	table	NOUN
fbem-29336	110	33	3	3	NUM
fbem-29336	110	34	.	.	PUNCT
fbem-29336	111	1	logistic	logistic	ADJ
fbem-29336	111	2	regression	regression	NOUN
fbem-29336	111	3	results	result	VERB
fbem-29336	111	4	variable	variable	ADJ
fbem-29336	111	5	coef	coef	PROPN
fbem-29336	111	6	std	std	NOUN
fbem-29336	112	1	err	err	VERB
fbem-29336	112	2	z	z	X
fbem-29336	112	3	p	p	NOUN
fbem-29336	112	4	const	const	NOUN
fbem-29336	112	5	-1.186	-1.186	PUNCT
fbem-29336	112	6	0.31	0.31	NUM
fbem-29336	112	7	-3.826	-3.826	NOUN
fbem-29336	113	1	0.000	0.000	NUM
fbem-29336	113	2	roa	roa	NOUN
fbem-29336	113	3	11.113	11.113	NUM
fbem-29336	113	4	1.613	1.613	NUM
fbem-29336	113	5	6.891	6.891	NUM
fbem-29336	113	6	0.000	0.000	NUM
fbem-29336	113	7	lev	lev	NOUN
fbem-29336	113	8	-1.26	-1.26	NUM
fbem-29336	113	9	0.319	0.319	NUM
fbem-29336	113	10	-3.95	-3.95	NUM
fbem-29336	113	11	0.000	0.000	NUM
fbem-29336	113	12	nwc	nwc	NOUN
fbem-29336	113	13	2.709	2.709	NUM
fbem-29336	113	14	0.927	0.927	NUM
fbem-29336	113	15	2.922	2.922	NUM
fbem-29336	113	16	0.003	0.003	NUM
fbem-29336	113	17	4.2	4.2	NUM
fbem-29336	113	18	.	.	PUNCT
fbem-29336	114	1	descriptive	descriptive	ADJ
fbem-29336	114	2	statistics	statistic	NOUN
fbem-29336	114	3	table	table	NOUN
fbem-29336	114	4	4	4	NUM
fbem-29336	114	5	.	.	PUNCT
fbem-29336	115	1	descriptive	descriptive	ADJ
fbem-29336	115	2	statistics	statistic	NOUN
fbem-29336	115	3	obs	obs	PROPN
fbem-29336	115	4	mean	mean	VERB
fbem-29336	115	5	std.dev	std.dev	PROPN
fbem-29336	115	6	.	.	PUNCT
fbem-29336	116	1	min	min	PROPN
fbem-29336	116	2	max	max	PROPN
fbem-29336	116	3	fc	fc	PROPN
fbem-29336	116	4	919	919	NUM
fbem-29336	116	5	-1.186	-1.186	PUNCT
fbem-29336	116	6	11.738	11.738	NUM
fbem-29336	116	7	-106.902	-106.902	NUM
fbem-29336	116	8	81.787	81.787	NUM
fbem-29336	116	9	fintech	fintech	NOUN
fbem-29336	116	10	919	919	NUM
fbem-29336	116	11	2.92e-16	2.92e-16	NUM
fbem-29336	116	12	1.001	1.001	NUM
fbem-29336	116	13	-2.701	-2.701	PUNCT
fbem-29336	116	14	1.729	1.729	NUM
fbem-29336	116	15	ea	ea	NOUN
fbem-29336	116	16	919	919	NUM
fbem-29336	116	17	3.57e-17	3.57e-17	NUM
fbem-29336	116	18	1.001	1.001	NUM
fbem-29336	116	19	-6.785	-6.785	NUM
fbem-29336	116	20	13.163	13.163	NUM
fbem-29336	116	21	tar	tar	NOUN
fbem-29336	116	22	919	919	NUM
fbem-29336	116	23	3.82e-16	3.82e-16	NUM
fbem-29336	116	24	1.001	1.001	NUM
fbem-29336	116	25	-3.648	-3.648	NUM
fbem-29336	116	26	2.008	2.008	NUM
fbem-29336	116	27	growth	growth	NOUN
fbem-29336	116	28	919	919	NUM
fbem-29336	116	29	5.00e-17	5.00e-17	NUM
fbem-29336	116	30	1.001	1.001	NUM
fbem-29336	116	31	-0.158	-0.158	SYM
fbem-29336	116	32	20.703	20.703	NUM
fbem-29336	116	33	roe	roe	NOUN
fbem-29336	116	34	919	919	NUM
fbem-29336	116	35	2.91e-17	2.91e-17	NUM
fbem-29336	116	36	1.001	1.001	NUM
fbem-29336	116	37	-30.213	-30.213	NOUN
fbem-29336	116	38	0.619	0.619	NUM
fbem-29336	116	39	npm	npm	PROPN
fbem-29336	116	40	919	919	NUM
fbem-29336	116	41	-1.83e-18	-1.83e-18	NOUN
fbem-29336	116	42	1.001	1.001	NUM
fbem-29336	116	43	-25.961	-25.961	PROPN
fbem-29336	116	44	0.068	0.068	NUM
fbem-29336	116	45	asset	asset	NOUN
fbem-29336	116	46	919	919	NUM
fbem-29336	116	47	9.85e-17	9.85e-17	NUM
fbem-29336	116	48	1.001	1.001	NUM
fbem-29336	116	49	-0.283	-0.283	NUM
fbem-29336	116	50	17.000	17.000	NUM
fbem-29336	116	51	4.3	4.3	NUM
fbem-29336	116	52	.	.	PUNCT
fbem-29336	116	53	variable	variable	ADJ
fbem-29336	116	54	correlation	correlation	NOUN
fbem-29336	116	55	analysis	analysis	NOUN
fbem-29336	116	56	as	as	SCONJ
fbem-29336	116	57	evidenced	evidence	VERB
fbem-29336	116	58	by	by	ADP
fbem-29336	116	59	the	the	DET
fbem-29336	116	60	correlation	correlation	NOUN
fbem-29336	116	61	analysis	analysis	NOUN
fbem-29336	116	62	results	result	NOUN
fbem-29336	116	63	presented	present	VERB
fbem-29336	116	64	in	in	ADP
fbem-29336	116	65	table	table	NOUN
fbem-29336	116	66	4	4	NUM
fbem-29336	116	67	,	,	PUNCT
fbem-29336	116	68	there	there	PRON
fbem-29336	116	69	is	be	VERB
fbem-29336	116	70	a	a	DET
fbem-29336	116	71	negative	negative	ADJ
fbem-29336	116	72	correlation	correlation	NOUN
fbem-29336	116	73	between	between	ADP
fbem-29336	116	74	fc	fc	PROPN
fbem-29336	116	75	and	and	CCONJ
fbem-29336	116	76	fintech	fintech	NOUN
fbem-29336	116	77	,	,	PUNCT
fbem-29336	116	78	and	and	CCONJ
fbem-29336	116	79	a	a	DET
fbem-29336	116	80	positive	positive	ADJ
fbem-29336	116	81	correlation	correlation	NOUN
fbem-29336	116	82	between	between	ADP
fbem-29336	116	83	fc	fc	PROPN
fbem-29336	116	84	and	and	CCONJ
fbem-29336	116	85	ea	ea	X
fbem-29336	116	86	.	.	PUNCT
fbem-29336	117	1	this	this	PRON
fbem-29336	117	2	aligns	align	VERB
fbem-29336	117	3	with	with	ADP
fbem-29336	117	4	the	the	DET
fbem-29336	117	5	initial	initial	ADJ
fbem-29336	117	6	hypothesis	hypothesis	NOUN
fbem-29336	117	7	.	.	PUNCT
fbem-29336	118	1	following	follow	VERB
fbem-29336	118	2	the	the	DET
fbem-29336	118	3	multicollinearity	multicollinearity	NOUN
fbem-29336	118	4	test	test	NOUN
fbem-29336	118	5	,	,	PUNCT
fbem-29336	118	6	the	the	DET
fbem-29336	118	7	average	average	ADJ
fbem-29336	118	8	inflation	inflation	NOUN
fbem-29336	118	9	factor	factor	NOUN
fbem-29336	118	10	for	for	ADP
fbem-29336	118	11	each	each	DET
fbem-29336	118	12	variable	variable	NOUN
fbem-29336	118	13	was	be	AUX
fbem-29336	118	14	found	find	VERB
fbem-29336	118	15	to	to	PART
fbem-29336	118	16	be	be	AUX
fbem-29336	118	17	1.05	1.05	NUM
fbem-29336	118	18	,	,	PUNCT
fbem-29336	118	19	which	which	PRON
fbem-29336	118	20	is	be	AUX
fbem-29336	118	21	below	below	ADP
fbem-29336	118	22	the	the	DET
fbem-29336	118	23	threshold	threshold	NOUN
fbem-29336	118	24	of	of	ADP
fbem-29336	118	25	2	2	NUM
fbem-29336	118	26	.	.	PUNCT
fbem-29336	119	1	it	it	PRON
fbem-29336	119	2	can	can	AUX
fbem-29336	119	3	be	be	AUX
fbem-29336	119	4	concluded	conclude	VERB
fbem-29336	119	5	that	that	SCONJ
fbem-29336	119	6	there	there	PRON
fbem-29336	119	7	is	be	VERB
fbem-29336	119	8	no	no	DET
fbem-29336	119	9	significant	significant	ADJ
fbem-29336	119	10	multicollinearity	multicollinearity	NOUN
fbem-29336	119	11	between	between	ADP
fbem-29336	119	12	the	the	DET
fbem-29336	119	13	indicators	indicator	NOUN
fbem-29336	119	14	,	,	PUNCT
fbem-29336	119	15	and	and	CCONJ
fbem-29336	119	16	that	that	SCONJ
fbem-29336	119	17	empirical	empirical	ADJ
fbem-29336	119	18	analysis	analysis	NOUN
fbem-29336	119	19	can	can	AUX
fbem-29336	119	20	be	be	AUX
fbem-29336	119	21	conducted	conduct	VERB
fbem-29336	119	22	.	.	PUNCT
fbem-29336	120	1	table	table	NOUN
fbem-29336	120	2	5	5	NUM
fbem-29336	120	3	.	.	PUNCT
fbem-29336	120	4	variable	variable	ADJ
fbem-29336	120	5	correlation	correlation	NOUN
fbem-29336	120	6	analysis	analysis	NOUN
fbem-29336	120	7	fc	fc	PROPN
fbem-29336	120	8	fintech	fintech	PROPN
fbem-29336	120	9	ea	ea	PROPN
fbem-29336	120	10	tar	tar	NOUN
fbem-29336	120	11	growth	growth	NOUN
fbem-29336	120	12	roe	roe	PROPN
fbem-29336	120	13	npm	npm	PROPN
fbem-29336	120	14	asset	asset	PROPN
fbem-29336	120	15	fc	fc	PROPN
fbem-29336	120	16	1.000	1.000	NUM
fbem-29336	120	17	fintech	fintech	NOUN
fbem-29336	120	18	-0.045	-0.045	NOUN
fbem-29336	120	19	1.000	1.000	NUM
fbem-29336	120	20	ea	ea	NOUN
fbem-29336	120	21	0.578	0.578	NUM
fbem-29336	120	22	*	*	PUNCT
fbem-29336	120	23	*	*	PUNCT
fbem-29336	121	1	*	*	PUNCT
fbem-29336	122	1	0.0124	0.0124	NUM
fbem-29336	122	2	1.000	1.000	NUM
fbem-29336	122	3	tar	tar	NOUN
fbem-29336	122	4	0.347	0.347	NUM
fbem-29336	122	5	*	*	PUNCT
fbem-29336	122	6	*	*	PUNCT
fbem-29336	122	7	*	*	PUNCT
fbem-29336	122	8	0.191	0.191	NUM
fbem-29336	122	9	*	*	PUNCT
fbem-29336	122	10	*	*	PUNCT
fbem-29336	122	11	*	*	PUNCT
fbem-29336	122	12	0.126	0.126	PUNCT
fbem-29336	122	13	*	*	PUNCT
fbem-29336	122	14	*	*	PUNCT
fbem-29336	122	15	1.000	1.000	NUM
fbem-29336	122	16	growth	growth	NOUN
fbem-29336	122	17	-0.091	-0.091	NOUN
fbem-29336	122	18	*	*	PUNCT
fbem-29336	122	19	*	*	PROPN
fbem-29336	122	20	0.022	0.022	NUM
fbem-29336	122	21	-0.011	-0.011	NUM
fbem-29336	122	22	0.026	0.026	NUM
fbem-29336	122	23	1.000	1.000	NUM
fbem-29336	122	24	roe	roe	NOUN
fbem-29336	122	25	0.334	0.334	NUM
fbem-29336	122	26	*	*	PUNCT
fbem-29336	122	27	*	*	PUNCT
fbem-29336	122	28	*	*	PUNCT
fbem-29336	122	29	-0.040	-0.040	NUM
fbem-29336	122	30	0.227	0.227	NUM
fbem-29336	122	31	*	*	PUNCT
fbem-29336	122	32	*	*	PUNCT
fbem-29336	122	33	*	*	PUNCT
fbem-29336	122	34	0.096	0.096	NUM
fbem-29336	122	35	*	*	NOUN
fbem-29336	122	36	*	*	PUNCT
fbem-29336	122	37	-0.002	-0.002	PUNCT
fbem-29336	122	38	1.000	1.000	NUM
fbem-29336	122	39	npm	npm	NOUN
fbem-29336	122	40	0.250	0.250	NUM
fbem-29336	122	41	*	*	NOUN
fbem-29336	122	42	*	*	PUNCT
fbem-29336	122	43	*	*	PUNCT
fbem-29336	122	44	-0.078	-0.078	X
fbem-29336	122	45	*	*	PUNCT
fbem-29336	122	46	0.079	0.079	NUM
fbem-29336	122	47	*	*	SYM
fbem-29336	122	48	0.018	0.018	NUM
fbem-29336	122	49	0.007	0.007	NUM
fbem-29336	122	50	0.140	0.140	NUM
fbem-29336	122	51	*	*	PUNCT
fbem-29336	122	52	*	*	PUNCT
fbem-29336	122	53	*	*	PUNCT
fbem-29336	122	54	1.000	1.000	NUM
fbem-29336	122	55	asset	asset	NOUN
fbem-29336	122	56	0.002	0.002	NUM
fbem-29336	122	57	-0.067	-0.067	NOUN
fbem-29336	122	58	*	*	PUNCT
fbem-29336	122	59	-0.075	-0.075	PROPN
fbem-29336	122	60	*	*	PUNCT
fbem-29336	122	61	-0.156	-0.156	PUNCT
fbem-29336	122	62	*	*	PUNCT
fbem-29336	122	63	*	*	PUNCT
fbem-29336	122	64	*	*	PUNCT
fbem-29336	122	65	0.002	0.002	NUM
fbem-29336	122	66	0.005	0.005	NUM
fbem-29336	122	67	0.009	0.009	NUM
fbem-29336	122	68	1.000	1.000	NUM
fbem-29336	122	69	4.4	4.4	NUM
fbem-29336	122	70	.	.	PUNCT
fbem-29336	123	1	benchmark	benchmark	PROPN
fbem-29336	123	2	regression	regression	NOUN
fbem-29336	123	3	model	model	NOUN
fbem-29336	123	4	results	result	VERB
fbem-29336	123	5	the	the	DET
fbem-29336	123	6	regression	regression	NOUN
fbem-29336	123	7	results	result	NOUN
fbem-29336	123	8	are	be	AUX
fbem-29336	123	9	presented	present	VERB
fbem-29336	123	10	in	in	ADP
fbem-29336	123	11	table	table	NOUN
fbem-29336	123	12	5	5	NUM
fbem-29336	123	13	.	.	PUNCT
fbem-29336	124	1	the	the	DET
fbem-29336	124	2	data	datum	NOUN
fbem-29336	124	3	in	in	ADP
fbem-29336	124	4	column	column	NOUN
fbem-29336	124	5	(	(	PUNCT
fbem-29336	124	6	1	1	X
fbem-29336	124	7	)	)	PUNCT
fbem-29336	124	8	indicate	indicate	VERB
fbem-29336	124	9	a	a	DET
fbem-29336	124	10	significant	significant	ADJ
fbem-29336	124	11	positive	positive	ADJ
fbem-29336	124	12	correlation	correlation	NOUN
fbem-29336	124	13	between	between	ADP
fbem-29336	124	14	information	information	NOUN
fbem-29336	124	15	asymmetry	asymmetry	NOUN
fbem-29336	124	16	and	and	CCONJ
fbem-29336	124	17	the	the	DET
fbem-29336	124	18	degree	degree	NOUN
fbem-29336	124	19	of	of	ADP
fbem-29336	124	20	corporate	corporate	ADJ
fbem-29336	124	21	financing	financing	NOUN
fbem-29336	124	22	constraints	constraint	NOUN
fbem-29336	124	23	.	.	PUNCT
fbem-29336	125	1	this	this	PRON
fbem-29336	125	2	implies	imply	VERB
fbem-29336	125	3	that	that	SCONJ
fbem-29336	125	4	as	as	SCONJ
fbem-29336	125	5	information	information	NOUN
fbem-29336	125	6	asymmetry	asymmetry	NOUN
fbem-29336	125	7	increases	increase	NOUN
fbem-29336	125	8	,	,	PUNCT
fbem-29336	125	9	so	so	ADV
fbem-29336	125	10	too	too	ADV
fbem-29336	125	11	does	do	AUX
fbem-29336	125	12	the	the	DET
fbem-29336	125	13	severity	severity	NOUN
fbem-29336	125	14	of	of	ADP
fbem-29336	125	15	financing	financing	NOUN
fbem-29336	125	16	constraints	constraint	NOUN
fbem-29336	125	17	face	face	NOUN
fbem-29336	125	18	by	by	ADP
fbem-29336	125	19	technology	technology	NOUN
fbem-29336	125	20	smes	sme	NOUN
fbem-29336	125	21	.	.	PUNCT
fbem-29336	126	1	consequently	consequently	ADV
fbem-29336	126	2	,	,	PUNCT
fbem-29336	126	3	hypothesis	hypothesis	NOUN
fbem-29336	126	4	1	1	NUM
fbem-29336	126	5	is	be	AUX
fbem-29336	126	6	supported	support	VERB
fbem-29336	126	7	.	.	PUNCT
fbem-29336	127	1	in	in	ADP
fbem-29336	127	2	contrast	contrast	NOUN
fbem-29336	127	3	,	,	PUNCT
fbem-29336	127	4	the	the	DET
fbem-29336	127	5	data	datum	NOUN
fbem-29336	127	6	in	in	ADP
fbem-29336	127	7	column	column	NOUN
fbem-29336	127	8	(	(	PUNCT
fbem-29336	127	9	2	2	X
fbem-29336	127	10	)	)	PUNCT
fbem-29336	127	11	show	show	VERB
fbem-29336	127	12	a	a	DET
fbem-29336	127	13	significantly	significantly	ADV
fbem-29336	127	14	negative	negative	ADJ
fbem-29336	127	15	coefficient	coefficient	NOUN
fbem-29336	127	16	for	for	ADP
fbem-29336	127	17	the	the	DET
fbem-29336	127	18	fintech	fintech	NOUN
fbem-29336	127	19	development	development	NOUN
fbem-29336	127	20	indicator	indicator	NOUN
fbem-29336	127	21	.	.	PUNCT
fbem-29336	128	1	this	this	PRON
fbem-29336	128	2	suggests	suggest	VERB
fbem-29336	128	3	that	that	SCONJ
fbem-29336	128	4	the	the	DET
fbem-29336	128	5	advancement	advancement	NOUN
fbem-29336	128	6	of	of	ADP
fbem-29336	128	7	fintech	fintech	NOUN
fbem-29336	128	8	plays	play	VERB
fbem-29336	128	9	a	a	DET
fbem-29336	128	10	pivotal	pivotal	ADJ
fbem-29336	128	11	role	role	NOUN
fbem-29336	128	12	in	in	ADP
fbem-29336	128	13	alleviating	alleviate	VERB
fbem-29336	128	14	the	the	DET
fbem-29336	128	15	financing	financing	NOUN
fbem-29336	128	16	constraints	constraint	NOUN
fbem-29336	128	17	experienced	experience	VERB
fbem-29336	128	18	by	by	ADP
fbem-29336	128	19	technology	technology	NOUN
fbem-29336	128	20	smes	sme	NOUN
fbem-29336	128	21	.	.	PUNCT
fbem-29336	129	1	table	table	NOUN
fbem-29336	129	2	6	6	NUM
fbem-29336	129	3	.	.	PUNCT
fbem-29336	129	4	benchmark	benchmark	NOUN
fbem-29336	129	5	regression	regression	NOUN
fbem-29336	129	6	model	model	NOUN
fbem-29336	129	7	results	result	NOUN
fbem-29336	129	8	(	(	PUNCT
fbem-29336	129	9	1	1	NUM
fbem-29336	129	10	)	)	PUNCT
fbem-29336	129	11	(	(	PUNCT
fbem-29336	129	12	2	2	X
fbem-29336	129	13	)	)	PUNCT
fbem-29336	129	14	fc	fc	PROPN
fbem-29336	129	15	fc	fc	PROPN
fbem-29336	129	16	fintech	fintech	PROPN
fbem-29336	129	17	-0.9247	-0.9247	PROPN
fbem-29336	129	18	*	*	PUNCT
fbem-29336	130	1	*	*	PUNCT
fbem-29336	130	2	*	*	PUNCT
fbem-29336	130	3	(	(	PUNCT
fbem-29336	130	4	0.3518	0.3518	NUM
fbem-29336	130	5	)	)	PUNCT
fbem-29336	130	6	constant	constant	ADJ
fbem-29336	130	7	term	term	NOUN
fbem-29336	130	8	-1.1860***(0.2771	-1.1860***(0.2771	NOUN
fbem-29336	130	9	)	)	PUNCT
fbem-29336	130	10	-1.1860	-1.1860	NOUN
fbem-29336	130	11	*	*	PUNCT
fbem-29336	131	1	*	*	PUNCT
fbem-29336	131	2	*	*	PUNCT
fbem-29336	131	3	(	(	PUNCT
fbem-29336	131	4	0.3303	0.3303	NUM
fbem-29336	131	5	)	)	PUNCT
fbem-29336	131	6	ea	ea	NOUN
fbem-29336	131	7	5.7832***(0.3044	5.7832***(0.3044	NUM
fbem-29336	131	8	)	)	PUNCT
fbem-29336	131	9	tar	tar	NOUN
fbem-29336	131	10	3.3153***(0.2874	3.3153***(0.2874	NUM
fbem-29336	131	11	)	)	PUNCT
fbem-29336	131	12	3.9289	3.9289	NUM
fbem-29336	131	13	*	*	PUNCT
fbem-29336	131	14	*	*	PUNCT
fbem-29336	131	15	*	*	PUNCT
fbem-29336	131	16	(	(	PUNCT
fbem-29336	131	17	0.3466	0.3466	NUM
fbem-29336	131	18	)	)	PUNCT
fbem-29336	131	19	growth	growth	NOUN
fbem-29336	131	20	-1.1490***(0.2909	-1.1490***(0.2909	NOUN
fbem-29336	131	21	)	)	PUNCT
fbem-29336	131	22	-1.3492	-1.3492	NOUN
fbem-29336	131	23	*	*	PUNCT
fbem-29336	131	24	*	*	PUNCT
fbem-29336	131	25	*	*	PUNCT
fbem-29336	131	26	(	(	PUNCT
fbem-29336	131	27	0.3437	0.3437	NUM
fbem-29336	131	28	)	)	PUNCT
fbem-29336	131	29	roe	roe	NOUN
fbem-29336	131	30	1.9819***(0.2909	1.9819***(0.2909	NUM
fbem-29336	131	31	)	)	PUNCT
fbem-29336	131	32	3.2156	3.2156	NUM
fbem-29336	131	33	*	*	PUNCT
fbem-29336	131	34	*	*	PUNCT
fbem-29336	131	35	*	*	PUNCT
fbem-29336	131	36	(	(	PUNCT
fbem-29336	131	37	0.3350	0.3350	NUM
fbem-29336	131	38	)	)	PUNCT
fbem-29336	131	39	npm	npm	PROPN
fbem-29336	131	40	2.2182***(0.3120	2.2182***(0.3120	NUM
fbem-29336	131	41	)	)	PUNCT
fbem-29336	131	42	2.3917	2.3917	NUM
fbem-29336	131	43	*	*	PUNCT
fbem-29336	131	44	*	*	PUNCT
fbem-29336	131	45	*	*	PUNCT
fbem-29336	131	46	(	(	PUNCT
fbem-29336	131	47	0.3688	0.3688	NUM
fbem-29336	131	48	)	)	PUNCT
fbem-29336	131	49	asset	asset	NOUN
fbem-29336	131	50	0.9689***(0.2840	0.9689***(0.2840	NUM
fbem-29336	131	51	)	)	PUNCT
fbem-29336	131	52	0.7710**(0.3366	0.7710**(0.3366	NUM
fbem-29336	131	53	)	)	PUNCT
fbem-29336	131	54	individual	individual	ADJ
fbem-29336	131	55	effect	effect	NOUN
fbem-29336	131	56	yes	yes	INTJ
fbem-29336	132	1	yes	yes	INTJ
fbem-29336	132	2	time	time	NOUN
fbem-29336	132	3	effect	effect	NOUN
fbem-29336	133	1	yes	yes	INTJ
fbem-29336	133	2	yes	yes	INTJ
fbem-29336	133	3	observations	observation	NOUN
fbem-29336	133	4	919	919	NUM
fbem-29336	133	5	919	919	NUM
fbem-29336	133	6	r	r	NOUN
fbem-29336	133	7	-	-	PUNCT
fbem-29336	133	8	square	square	ADJ
fbem-29336	133	9	0.5059	0.5059	NUM
fbem-29336	133	10	0.3098	0.3098	NUM
fbem-29336	133	11	194	194	NUM
fbem-29336	133	12	5	5	NUM
fbem-29336	133	13	.	.	PUNCT
fbem-29336	134	1	testing	testing	NOUN
fbem-29336	134	2	of	of	ADP
fbem-29336	134	3	mediating	mediate	VERB
fbem-29336	134	4	mechanisms	mechanism	NOUN
fbem-29336	134	5	an	an	DET
fbem-29336	134	6	enterprise	enterprise	NOUN
fbem-29336	134	7	may	may	AUX
fbem-29336	134	8	be	be	AUX
fbem-29336	134	9	classified	classify	VERB
fbem-29336	134	10	as	as	ADP
fbem-29336	134	11	belonging	belong	VERB
fbem-29336	134	12	to	to	ADP
fbem-29336	134	13	either	either	CCONJ
fbem-29336	134	14	the	the	DET
fbem-29336	134	15	high	high	ADJ
fbem-29336	134	16	information	information	NOUN
fbem-29336	134	17	asymmetry	asymmetry	NOUN
fbem-29336	134	18	group	group	NOUN
fbem-29336	134	19	or	or	CCONJ
fbem-29336	134	20	the	the	DET
fbem-29336	134	21	low	low	ADJ
fbem-29336	134	22	information	information	NOUN
fbem-29336	134	23	asymmetry	asymmetry	NOUN
fbem-29336	134	24	group	group	NOUN
fbem-29336	134	25	,	,	PUNCT
fbem-29336	134	26	depending	depend	VERB
fbem-29336	134	27	on	on	ADP
fbem-29336	134	28	the	the	DET
fbem-29336	134	29	extent	extent	NOUN
fbem-29336	134	30	of	of	ADP
fbem-29336	134	31	information	information	NOUN
fbem-29336	134	32	asymmetry	asymmetry	NOUN
fbem-29336	134	33	present	present	NOUN
fbem-29336	134	34	.	.	PUNCT
fbem-29336	135	1	as	as	SCONJ
fbem-29336	135	2	evidenced	evidence	VERB
fbem-29336	135	3	by	by	ADP
fbem-29336	135	4	the	the	DET
fbem-29336	135	5	data	datum	NOUN
fbem-29336	135	6	presented	present	VERB
fbem-29336	135	7	in	in	ADP
fbem-29336	135	8	table	table	NOUN
fbem-29336	135	9	6	6	NUM
fbem-29336	135	10	,	,	PUNCT
fbem-29336	135	11	the	the	DET
fbem-29336	135	12	advancement	advancement	NOUN
fbem-29336	135	13	of	of	ADP
fbem-29336	135	14	fintech	fintech	NOUN
fbem-29336	135	15	does	do	AUX
fbem-29336	135	16	not	not	PART
fbem-29336	135	17	appear	appear	VERB
fbem-29336	135	18	to	to	PART
fbem-29336	135	19	mitigate	mitigate	VERB
fbem-29336	135	20	the	the	DET
fbem-29336	135	21	information	information	NOUN
fbem-29336	135	22	asymmetry	asymmetry	NOUN
fbem-29336	135	23	experienced	experience	VERB
fbem-29336	135	24	by	by	ADP
fbem-29336	135	25	enterprises	enterprise	NOUN
fbem-29336	135	26	within	within	ADP
fbem-29336	135	27	the	the	DET
fbem-29336	135	28	high	high	ADJ
fbem-29336	135	29	information	information	NOUN
fbem-29336	135	30	asymmetry	asymmetry	NOUN
fbem-29336	135	31	group	group	NOUN
fbem-29336	135	32	.	.	PUNCT
fbem-29336	136	1	this	this	DET
fbem-29336	136	2	observation	observation	NOUN
fbem-29336	136	3	challenges	challenge	VERB
fbem-29336	136	4	the	the	DET
fbem-29336	136	5	initial	initial	ADJ
fbem-29336	136	6	hypothesis	hypothesis	NOUN
fbem-29336	136	7	.	.	PUNCT
fbem-29336	137	1	this	this	PRON
fbem-29336	137	2	may	may	AUX
fbem-29336	137	3	be	be	AUX
fbem-29336	137	4	due	due	ADJ
fbem-29336	137	5	to	to	ADP
fbem-29336	137	6	the	the	DET
fbem-29336	137	7	fact	fact	NOUN
fbem-29336	137	8	that	that	SCONJ
fbem-29336	137	9	the	the	DET
fbem-29336	137	10	sample	sample	NOUN
fbem-29336	137	11	size	size	NOUN
fbem-29336	137	12	within	within	ADP
fbem-29336	137	13	this	this	DET
fbem-29336	137	14	interval	interval	NOUN
fbem-29336	137	15	is	be	AUX
fbem-29336	137	16	more	more	ADV
fbem-29336	137	17	significantly	significantly	ADV
fbem-29336	137	18	influenced	influence	VERB
fbem-29336	137	19	by	by	ADP
fbem-29336	137	20	individual	individual	ADJ
fbem-29336	137	21	factors	factor	NOUN
fbem-29336	137	22	,	,	PUNCT
fbem-29336	137	23	and	and	CCONJ
fbem-29336	137	24	the	the	DET
fbem-29336	137	25	local	local	ADJ
fbem-29336	137	26	fintech	fintech	NOUN
fbem-29336	137	27	development	development	NOUN
fbem-29336	137	28	indicators	indicator	NOUN
fbem-29336	137	29	are	be	AUX
fbem-29336	137	30	unable	unable	ADJ
fbem-29336	137	31	to	to	PART
fbem-29336	137	32	accurately	accurately	ADV
fbem-29336	137	33	assess	assess	VERB
fbem-29336	137	34	the	the	DET
fbem-29336	137	35	advancement	advancement	NOUN
fbem-29336	137	36	of	of	ADP
fbem-29336	137	37	fintech	fintech	NOUN
fbem-29336	137	38	,	,	PUNCT
fbem-29336	137	39	resulting	result	VERB
fbem-29336	137	40	in	in	ADP
fbem-29336	137	41	discrepancies	discrepancy	NOUN
fbem-29336	137	42	.	.	PUNCT
fbem-29336	138	1	accordingly	accordingly	ADV
fbem-29336	138	2	,	,	PUNCT
fbem-29336	138	3	the	the	DET
fbem-29336	138	4	high	high	ADJ
fbem-29336	138	5	information	information	NOUN
fbem-29336	138	6	asymmetry	asymmetry	NOUN
fbem-29336	138	7	group	group	NOUN
fbem-29336	138	8	was	be	AUX
fbem-29336	138	9	excluded	exclude	VERB
fbem-29336	138	10	from	from	ADP
fbem-29336	138	11	the	the	DET
fbem-29336	138	12	original	original	ADJ
fbem-29336	138	13	data	datum	NOUN
fbem-29336	138	14	set	set	VERB
fbem-29336	138	15	to	to	PART
fbem-29336	138	16	allow	allow	VERB
fbem-29336	138	17	for	for	ADP
fbem-29336	138	18	a	a	DET
fbem-29336	138	19	mediating	mediate	VERB
fbem-29336	138	20	mechanism	mechanism	NOUN
fbem-29336	138	21	test	test	NOUN
fbem-29336	138	22	to	to	PART
fbem-29336	138	23	be	be	AUX
fbem-29336	138	24	conducted	conduct	VERB
fbem-29336	138	25	.	.	PUNCT
fbem-29336	139	1	in	in	ADP
fbem-29336	139	2	the	the	DET
fbem-29336	139	3	low	low	ADJ
fbem-29336	139	4	information	information	NOUN
fbem-29336	139	5	asymmetry	asymmetry	NOUN
fbem-29336	139	6	group	group	NOUN
fbem-29336	139	7	,	,	PUNCT
fbem-29336	139	8	the	the	DET
fbem-29336	139	9	development	development	NOUN
fbem-29336	139	10	of	of	ADP
fbem-29336	139	11	fintech	fintech	NOUN
fbem-29336	139	12	is	be	AUX
fbem-29336	139	13	negatively	negatively	ADV
fbem-29336	139	14	correlated	correlate	VERB
fbem-29336	139	15	with	with	ADP
fbem-29336	139	16	the	the	DET
fbem-29336	139	17	degree	degree	NOUN
fbem-29336	139	18	of	of	ADP
fbem-29336	139	19	information	information	NOUN
fbem-29336	139	20	asymmetry	asymmetry	NOUN
fbem-29336	139	21	of	of	ADP
fbem-29336	139	22	enterprises	enterprise	NOUN
fbem-29336	139	23	,	,	PUNCT
fbem-29336	139	24	indicating	indicate	VERB
fbem-29336	139	25	that	that	SCONJ
fbem-29336	139	26	the	the	DET
fbem-29336	139	27	former	former	ADJ
fbem-29336	139	28	can	can	AUX
fbem-29336	139	29	alleviate	alleviate	VERB
fbem-29336	139	30	the	the	DET
fbem-29336	139	31	latter	latter	ADJ
fbem-29336	139	32	.	.	PUNCT
fbem-29336	140	1	in	in	ADP
fbem-29336	140	2	column	column	NOUN
fbem-29336	140	3	(	(	PUNCT
fbem-29336	140	4	3	3	NUM
fbem-29336	140	5	)	)	PUNCT
fbem-29336	140	6	,	,	PUNCT
fbem-29336	140	7	the	the	DET
fbem-29336	140	8	coefficient	coefficient	NOUN
fbem-29336	140	9	for	for	ADP
fbem-29336	140	10	fintech	fintech	NOUN
fbem-29336	140	11	is	be	AUX
fbem-29336	140	12	significantly	significantly	ADV
fbem-29336	140	13	negative	negative	ADJ
fbem-29336	140	14	,	,	PUNCT
fbem-29336	140	15	indicating	indicate	VERB
fbem-29336	140	16	that	that	SCONJ
fbem-29336	140	17	the	the	DET
fbem-29336	140	18	development	development	NOUN
fbem-29336	140	19	of	of	ADP
fbem-29336	140	20	fintech	fintech	NOUN
fbem-29336	140	21	can	can	AUX
fbem-29336	140	22	alleviate	alleviate	VERB
fbem-29336	140	23	the	the	DET
fbem-29336	140	24	financing	financing	NOUN
fbem-29336	140	25	constraints	constraint	NOUN
fbem-29336	140	26	of	of	ADP
fbem-29336	140	27	technology	technology	NOUN
fbem-29336	140	28	smes	sme	NOUN
fbem-29336	140	29	.	.	PUNCT
fbem-29336	141	1	the	the	DET
fbem-29336	141	2	regression	regression	NOUN
fbem-29336	141	3	of	of	ADP
fbem-29336	141	4	model	model	NOUN
fbem-29336	141	5	(	(	PUNCT
fbem-29336	141	6	5	5	NUM
fbem-29336	141	7	)	)	PUNCT
fbem-29336	141	8	shows	show	VERB
fbem-29336	141	9	that	that	SCONJ
fbem-29336	141	10	the	the	DET
fbem-29336	141	11	coefficient	coefficient	NOUN
fbem-29336	141	12	for	for	ADP
fbem-29336	141	13	fintech	fintech	NOUN
fbem-29336	141	14	and	and	CCONJ
fbem-29336	141	15	the	the	DET
fbem-29336	141	16	coefficient	coefficient	NOUN
fbem-29336	141	17	for	for	ADP
fbem-29336	141	18	ea	ea	NUM
fbem-29336	141	19	remain	remain	VERB
fbem-29336	141	20	unchanged	unchanged	ADJ
fbem-29336	141	21	,	,	PUNCT
fbem-29336	141	22	indicating	indicate	VERB
fbem-29336	141	23	that	that	SCONJ
fbem-29336	141	24	the	the	DET
fbem-29336	141	25	development	development	NOUN
fbem-29336	141	26	of	of	ADP
fbem-29336	141	27	fintech	fintech	NOUN
fbem-29336	141	28	can	can	AUX
fbem-29336	141	29	reduce	reduce	VERB
fbem-29336	141	30	information	information	NOUN
fbem-29336	141	31	asymmetry	asymmetry	NOUN
fbem-29336	141	32	and	and	CCONJ
fbem-29336	141	33	thus	thus	ADV
fbem-29336	141	34	alleviate	alleviate	VERB
fbem-29336	141	35	the	the	DET
fbem-29336	141	36	financing	financing	NOUN
fbem-29336	141	37	constraints	constraint	NOUN
fbem-29336	141	38	of	of	ADP
fbem-29336	141	39	technology	technology	NOUN
fbem-29336	141	40	smes	sme	NOUN
fbem-29336	141	41	,	,	PUNCT
fbem-29336	141	42	thereby	thereby	ADV
fbem-29336	141	43	verifying	verify	VERB
fbem-29336	141	44	hypothesis	hypothesis	NOUN
fbem-29336	141	45	2	2	NUM
fbem-29336	141	46	.	.	PUNCT
fbem-29336	141	47	table	table	NOUN
fbem-29336	141	48	7	7	NUM
fbem-29336	141	49	.	.	PUNCT
fbem-29336	141	50	mediating	mediate	VERB
fbem-29336	141	51	mechanisms	mechanism	NOUN
fbem-29336	141	52	test	test	NOUN
fbem-29336	141	53	results	result	VERB
fbem-29336	141	54	high	high	ADJ
fbem-29336	141	55	information	information	NOUN
fbem-29336	141	56	asymmetry	asymmetry	NOUN
fbem-29336	141	57	group	group	NOUN
fbem-29336	141	58	low	low	PROPN
fbem-29336	141	59	information	information	PROPN
fbem-29336	141	60	asymmetry	asymmetry	NOUN
fbem-29336	141	61	group	group	NOUN
fbem-29336	141	62	(	(	PUNCT
fbem-29336	141	63	3	3	NUM
fbem-29336	141	64	)	)	PUNCT
fbem-29336	141	65	(	(	PUNCT
fbem-29336	141	66	4	4	NUM
fbem-29336	141	67	)	)	PUNCT
fbem-29336	142	1	ea	ea	NOUN
fbem-29336	142	2	ea	ea	NOUN
fbem-29336	142	3	fc	fc	PROPN
fbem-29336	142	4	fc	fc	PROPN
fbem-29336	142	5	fintech	fintech	PROPN
fbem-29336	142	6	0.1977	0.1977	PROPN
fbem-29336	142	7	*	*	PUNCT
fbem-29336	142	8	*	*	PUNCT
fbem-29336	142	9	(	(	PUNCT
fbem-29336	142	10	0.0886	0.0886	NUM
fbem-29336	142	11	)	)	PUNCT
fbem-29336	142	12	-0.0968	-0.0968	NOUN
fbem-29336	143	1	*	*	PUNCT
fbem-29336	143	2	*	*	PUNCT
fbem-29336	143	3	*	*	PUNCT
fbem-29336	143	4	(	(	PUNCT
fbem-29336	143	5	0.0338	0.0338	NUM
fbem-29336	143	6	)	)	PUNCT
fbem-29336	143	7	-2.8488	-2.8488	NOUN
fbem-29336	144	1	*	*	PUNCT
fbem-29336	145	1	*	*	PUNCT
fbem-29336	145	2	*	*	PUNCT
fbem-29336	145	3	(	(	PUNCT
fbem-29336	145	4	0.7316	0.7316	NUM
fbem-29336	145	5	)	)	PUNCT
fbem-29336	145	6	-1.6701	-1.6701	NOUN
fbem-29336	146	1	*	*	PUNCT
fbem-29336	146	2	*	*	PUNCT
fbem-29336	146	3	*	*	PUNCT
fbem-29336	146	4	(	(	PUNCT
fbem-29336	146	5	0.6101	0.6101	NOUN
fbem-29336	146	6	)	)	PUNCT
fbem-29336	146	7	constant	constant	ADJ
fbem-29336	146	8	term	term	NOUN
fbem-29336	146	9	0.7716	0.7716	NUM
fbem-29336	146	10	(	(	PUNCT
fbem-29336	146	11	3.0431	3.0431	NUM
fbem-29336	146	12	)	)	PUNCT
fbem-29336	146	13	-0.3990	-0.3990	NOUN
fbem-29336	146	14	*	*	PUNCT
fbem-29336	146	15	*	*	PUNCT
fbem-29336	146	16	*	*	PUNCT
fbem-29336	146	17	(	(	PUNCT
fbem-29336	146	18	0.0199	0.0199	NUM
fbem-29336	146	19	)	)	PUNCT
fbem-29336	146	20	-2.8205	-2.8205	NOUN
fbem-29336	146	21	*	*	PUNCT
fbem-29336	147	1	*	*	PUNCT
fbem-29336	147	2	*	*	PUNCT
fbem-29336	147	3	(	(	PUNCT
fbem-29336	147	4	0.4310	0.4310	NUM
fbem-29336	147	5	)	)	PUNCT
fbem-29336	147	6	2.0381	2.0381	NUM
fbem-29336	147	7	*	*	PUNCT
fbem-29336	147	8	*	*	PUNCT
fbem-29336	147	9	*	*	PUNCT
fbem-29336	147	10	(	(	PUNCT
fbem-29336	147	11	0.4768	0.4768	NUM
fbem-29336	147	12	)	)	PUNCT
fbem-29336	147	13	ea	ea	NOUN
fbem-29336	147	14	12.1755	12.1755	NUM
fbem-29336	147	15	*	*	PUNCT
fbem-29336	147	16	*	*	PUNCT
fbem-29336	147	17	*	*	PUNCT
fbem-29336	147	18	(	(	PUNCT
fbem-29336	147	19	0.7932	0.7932	NUM
fbem-29336	147	20	)	)	PUNCT
fbem-29336	147	21	tar	tar	NOUN
fbem-29336	147	22	0.0859	0.0859	NUM
fbem-29336	147	23	(	(	PUNCT
fbem-29336	147	24	0.0745	0.0745	NUM
fbem-29336	147	25	)	)	PUNCT
fbem-29336	148	1	0.0259	0.0259	NUM
fbem-29336	148	2	(	(	PUNCT
fbem-29336	148	3	0.0204	0.0204	NUM
fbem-29336	148	4	)	)	PUNCT
fbem-29336	148	5	3.8298	3.8298	NUM
fbem-29336	148	6	*	*	PUNCT
fbem-29336	148	7	*	*	PUNCT
fbem-29336	148	8	*	*	PUNCT
fbem-29336	148	9	(	(	PUNCT
fbem-29336	148	10	0.4421	0.4421	NUM
fbem-29336	148	11	)	)	PUNCT
fbem-29336	148	12	3.5141	3.5141	NUM
fbem-29336	148	13	*	*	PUNCT
fbem-29336	148	14	*	*	PUNCT
fbem-29336	148	15	*	*	PUNCT
fbem-29336	148	16	(	(	PUNCT
fbem-29336	148	17	0.3663	0.3663	NUM
fbem-29336	148	18	)	)	PUNCT
fbem-29336	148	19	growth	growth	NOUN
fbem-29336	148	20	4.0783	4.0783	NUM
fbem-29336	148	21	*	*	PUNCT
fbem-29336	148	22	*	*	PUNCT
fbem-29336	148	23	*	*	PUNCT
fbem-29336	148	24	(	(	PUNCT
fbem-29336	148	25	0.9198	0.9198	NUM
fbem-29336	148	26	)	)	PUNCT
fbem-29336	148	27	-0.0052	-0.0052	X
fbem-29336	148	28	(	(	PUNCT
fbem-29336	148	29	0.01615	0.01615	NUM
fbem-29336	148	30	)	)	PUNCT
fbem-29336	148	31	-1.2208	-1.2208	PUNCT
fbem-29336	149	1	*	*	PUNCT
fbem-29336	149	2	*	*	PUNCT
fbem-29336	149	3	*	*	PUNCT
fbem-29336	149	4	(	(	PUNCT
fbem-29336	149	5	0.3494	0.3494	NUM
fbem-29336	149	6	)	)	PUNCT
fbem-29336	149	7	-1.1575	-1.1575	NOUN
fbem-29336	150	1	*	*	PUNCT
fbem-29336	150	2	*	*	PUNCT
fbem-29336	150	3	*	*	PUNCT
fbem-29336	150	4	(	(	PUNCT
fbem-29336	150	5	0.2891	0.2891	NUM
fbem-29336	150	6	)	)	PUNCT
fbem-29336	150	7	roe	roe	NOUN
fbem-29336	150	8	6.6309	6.6309	NUM
fbem-29336	150	9	*	*	PUNCT
fbem-29336	151	1	*	*	PUNCT
fbem-29336	151	2	*	*	PUNCT
fbem-29336	151	3	(	(	PUNCT
fbem-29336	151	4	1.4306	1.4306	NUM
fbem-29336	151	5	)	)	PUNCT
fbem-29336	151	6	0.1867	0.1867	NUM
fbem-29336	151	7	*	*	PUNCT
fbem-29336	151	8	*	*	PUNCT
fbem-29336	151	9	*	*	PUNCT
fbem-29336	151	10	(	(	PUNCT
fbem-29336	151	11	0.0159	0.0159	NUM
fbem-29336	151	12	)	)	PUNCT
fbem-29336	151	13	2.7030	2.7030	NUM
fbem-29336	151	14	*	*	PUNCT
fbem-29336	151	15	*	*	PUNCT
fbem-29336	151	16	*	*	PUNCT
fbem-29336	151	17	(	(	PUNCT
fbem-29336	151	18	0.3433	0.3433	NUM
fbem-29336	151	19	)	)	PUNCT
fbem-29336	151	20	0.4290	0.4290	NUM
fbem-29336	151	21	(	(	PUNCT
fbem-29336	151	22	0.3204	0.3204	NUM
fbem-29336	151	23	)	)	PUNCT
fbem-29336	151	24	npm	npm	PROPN
fbem-29336	151	25	-5.9872	-5.9872	NOUN
fbem-29336	151	26	(	(	PUNCT
fbem-29336	151	27	51.9520	51.9520	NUM
fbem-29336	151	28	)	)	PUNCT
fbem-29336	151	29	0.0329	0.0329	NUM
fbem-29336	151	30	(	(	PUNCT
fbem-29336	151	31	0.0308	0.0308	NUM
fbem-29336	151	32	)	)	PUNCT
fbem-29336	151	33	3.7483	3.7483	NUM
fbem-29336	151	34	*	*	PUNCT
fbem-29336	151	35	*	*	PUNCT
fbem-29336	151	36	*	*	PUNCT
fbem-29336	151	37	(	(	PUNCT
fbem-29336	151	38	0.6664	0.6664	NUM
fbem-29336	151	39	)	)	PUNCT
fbem-29336	151	40	3.3475	3.3475	NUM
fbem-29336	151	41	*	*	PUNCT
fbem-29336	151	42	*	*	PUNCT
fbem-29336	151	43	*	*	PUNCT
fbem-29336	151	44	(	(	PUNCT
fbem-29336	151	45	0.5520	0.5520	NUM
fbem-29336	151	46	)	)	PUNCT
fbem-29336	151	47	asset	asset	NOUN
fbem-29336	151	48	-0.2081	-0.2081	NOUN
fbem-29336	151	49	(	(	PUNCT
fbem-29336	151	50	0.2698	0.2698	NUM
fbem-29336	151	51	)	)	PUNCT
fbem-29336	151	52	0.0019	0.0019	NUM
fbem-29336	151	53	(	(	PUNCT
fbem-29336	151	54	0.0159	0.0159	NUM
fbem-29336	151	55	)	)	PUNCT
fbem-29336	151	56	1.0557	1.0557	NUM
fbem-29336	151	57	*	*	PUNCT
fbem-29336	151	58	*	*	PUNCT
fbem-29336	151	59	*	*	PUNCT
fbem-29336	151	60	(	(	PUNCT
fbem-29336	151	61	0.3454	0.3454	NUM
fbem-29336	151	62	)	)	PUNCT
fbem-29336	151	63	1.0316	1.0316	NUM
fbem-29336	151	64	*	*	PUNCT
fbem-29336	151	65	*	*	PUNCT
fbem-29336	151	66	*	*	PUNCT
fbem-29336	151	67	(	(	PUNCT
fbem-29336	151	68	0.2858	0.2858	NUM
fbem-29336	151	69	)	)	PUNCT
fbem-29336	151	70	individual	individual	ADJ
fbem-29336	151	71	effect	effect	NOUN
fbem-29336	152	1	yes	yes	INTJ
fbem-29336	153	1	yes	yes	INTJ
fbem-29336	154	1	yes	yes	INTJ
fbem-29336	155	1	yes	yes	INTJ
fbem-29336	155	2	time	time	NOUN
fbem-29336	155	3	effect	effect	NOUN
fbem-29336	156	1	yes	yes	INTJ
fbem-29336	157	1	yes	yes	INTJ
fbem-29336	158	1	yes	yes	INTJ
fbem-29336	158	2	yes	yes	INTJ
fbem-29336	158	3	observations	observation	NOUN
fbem-29336	158	4	372	372	NUM
fbem-29336	158	5	540	540	NUM
fbem-29336	158	6	540	540	NUM
fbem-29336	158	7	540	540	NUM
fbem-29336	158	8	r	r	NOUN
fbem-29336	158	9	-	-	PUNCT
fbem-29336	158	10	square	square	ADJ
fbem-29336	158	11	0,3558	0,3558	NOUN
fbem-29336	159	1	0.2768	0.2768	NUM
fbem-29336	159	2	0.3509	0.3509	NUM
fbem-29336	159	3	0.5565	0.5565	NUM
fbem-29336	159	4	6	6	NUM
fbem-29336	159	5	.	.	PUNCT
fbem-29336	160	1	robustness	robustness	NOUN
fbem-29336	160	2	test	test	NOUN
fbem-29336	160	3	enterprises	enterprise	NOUN
fbem-29336	160	4	that	that	PRON
fbem-29336	160	5	are	be	AUX
fbem-29336	160	6	constrained	constrain	VERB
fbem-29336	160	7	by	by	ADP
fbem-29336	160	8	limitations	limitation	NOUN
fbem-29336	160	9	in	in	ADP
fbem-29336	160	10	their	their	PRON
fbem-29336	160	11	access	access	NOUN
fbem-29336	160	12	to	to	ADP
fbem-29336	160	13	financing	financing	NOUN
fbem-29336	160	14	,	,	PUNCT
fbem-29336	160	15	particularly	particularly	ADV
fbem-29336	160	16	those	those	PRON
fbem-29336	160	17	operating	operate	VERB
fbem-29336	160	18	at	at	ADP
fbem-29336	160	19	the	the	DET
fbem-29336	160	20	small	small	ADJ
fbem-29336	160	21	and	and	CCONJ
fbem-29336	160	22	medium	medium	ADJ
fbem-29336	160	23	-	-	PUNCT
fbem-29336	160	24	sized	sized	ADJ
fbem-29336	160	25	technology	technology	NOUN
fbem-29336	160	26	enterprise	enterprise	NOUN
fbem-29336	160	27	level	level	NOUN
fbem-29336	160	28	,	,	PUNCT
fbem-29336	160	29	encounter	encounter	VERB
fbem-29336	160	30	significant	significant	ADJ
fbem-29336	160	31	challenges	challenge	NOUN
fbem-29336	160	32	in	in	ADP
fbem-29336	160	33	obtaining	obtain	VERB
fbem-29336	160	34	the	the	DET
fbem-29336	160	35	necessary	necessary	ADJ
fbem-29336	160	36	funds	fund	NOUN
fbem-29336	160	37	through	through	ADP
fbem-29336	160	38	conventional	conventional	ADJ
fbem-29336	160	39	channels	channel	NOUN
fbem-29336	160	40	.	.	PUNCT
fbem-29336	161	1	these	these	DET
fbem-29336	161	2	entities	entity	NOUN
fbem-29336	161	3	utilize	utilize	VERB
fbem-29336	161	4	existing	exist	VERB
fbem-29336	161	5	cash	cash	NOUN
fbem-29336	161	6	flows	flow	NOUN
fbem-29336	161	7	to	to	PART
fbem-29336	161	8	fulfill	fulfill	VERB
fbem-29336	161	9	demand	demand	NOUN
fbem-29336	161	10	or	or	CCONJ
fbem-29336	161	11	support	support	NOUN
fbem-29336	161	12	investment	investment	NOUN
fbem-29336	161	13	,	,	PUNCT
fbem-29336	161	14	thereby	thereby	ADV
fbem-29336	161	15	demonstrating	demonstrate	VERB
fbem-29336	161	16	a	a	DET
fbem-29336	161	17	high	high	ADJ
fbem-29336	161	18	degree	degree	NOUN
fbem-29336	161	19	of	of	ADP
fbem-29336	161	20	sensitivity	sensitivity	NOUN
fbem-29336	161	21	to	to	ADP
fbem-29336	161	22	cash	cash	NOUN
fbem-29336	161	23	-	-	PUNCT
fbem-29336	161	24	to	to	ADP
fbem-29336	161	25	-	-	PUNCT
fbem-29336	161	26	cash	cash	NOUN
fbem-29336	161	27	flow	flow	NOUN
fbem-29336	161	28	ratios	ratio	NOUN
fbem-29336	161	29	.	.	PUNCT
fbem-29336	162	1	an	an	DET
fbem-29336	162	2	increase	increase	NOUN
fbem-29336	162	3	in	in	ADP
fbem-29336	162	4	sensitivity	sensitivity	NOUN
fbem-29336	162	5	corresponds	correspond	NOUN
fbem-29336	162	6	with	with	ADP
fbem-29336	162	7	an	an	DET
fbem-29336	162	8	elevated	elevated	ADJ
fbem-29336	162	9	degree	degree	NOUN
fbem-29336	162	10	of	of	ADP
fbem-29336	162	11	financing	financing	NOUN
fbem-29336	162	12	constraints	constraint	NOUN
fbem-29336	162	13	for	for	ADP
fbem-29336	162	14	the	the	DET
fbem-29336	162	15	enterprise	enterprise	NOUN
fbem-29336	162	16	.	.	PUNCT
fbem-29336	163	1	this	this	DET
fbem-29336	163	2	paper	paper	NOUN
fbem-29336	163	3	builds	build	VERB
fbem-29336	163	4	upon	upon	SCONJ
fbem-29336	163	5	existing	exist	VERB
fbem-29336	163	6	literature	literature	NOUN
fbem-29336	163	7	by	by	ADP
fbem-29336	163	8	introducing	introduce	VERB
fbem-29336	163	9	a	a	DET
fbem-29336	163	10	control	control	NOUN
fbem-29336	163	11	variable	variable	ADJ
fbem-29336	163	12	indicator	indicator	NOUN
fbem-29336	163	13	,	,	PUNCT
fbem-29336	163	14	short	short	ADJ
fbem-29336	163	15	-	-	PUNCT
fbem-29336	163	16	term	term	NOUN
fbem-29336	163	17	debt	debt	NOUN
fbem-29336	163	18	changes	change	NOUN
fbem-29336	163	19	rate	rate	NOUN
fbem-29336	163	20	(	(	PUNCT
fbem-29336	163	21	sd	sd	NOUN
fbem-29336	163	22	)	)	PUNCT
fbem-29336	163	23	,	,	PUNCT
fbem-29336	163	24	which	which	PRON
fbem-29336	163	25	can	can	AUX
fbem-29336	163	26	reflect	reflect	VERB
fbem-29336	163	27	cash	cash	NOUN
fbem-29336	163	28	-	-	PUNCT
fbem-29336	163	29	cash	cash	NOUN
fbem-29336	163	30	flow	flow	NOUN
fbem-29336	163	31	sensitivity	sensitivity	NOUN
fbem-29336	163	32	[	[	X
fbem-29336	163	33	24	24	NUM
fbem-29336	163	34	,	,	PUNCT
fbem-29336	163	35	25	25	NUM
fbem-29336	163	36	]	]	PUNCT
fbem-29336	163	37	.	.	PUNCT
fbem-29336	164	1	this	this	DET
fbem-29336	164	2	indicator	indicator	NOUN
fbem-29336	164	3	provides	provide	VERB
fbem-29336	164	4	investors	investor	NOUN
fbem-29336	164	5	and	and	CCONJ
fbem-29336	164	6	creditors	creditor	NOUN
fbem-29336	164	7	with	with	ADP
fbem-29336	164	8	insights	insight	NOUN
fbem-29336	164	9	into	into	ADP
fbem-29336	164	10	the	the	DET
fbem-29336	164	11	stability	stability	NOUN
fbem-29336	164	12	of	of	ADP
fbem-29336	164	13	debt	debt	NOUN
fbem-29336	164	14	and	and	CCONJ
fbem-29336	164	15	the	the	DET
fbem-29336	164	16	evolving	evolve	VERB
fbem-29336	164	17	financial	financial	ADJ
fbem-29336	164	18	status	status	NOUN
fbem-29336	164	19	of	of	ADP
fbem-29336	164	20	the	the	DET
fbem-29336	164	21	enterprise	enterprise	NOUN
fbem-29336	164	22	.	.	PUNCT
fbem-29336	165	1	the	the	DET
fbem-29336	165	2	regression	regression	NOUN
fbem-29336	165	3	results	result	NOUN
fbem-29336	165	4	presented	present	VERB
fbem-29336	165	5	above	above	ADV
fbem-29336	165	6	are	be	AUX
fbem-29336	165	7	subjected	subject	VERB
fbem-29336	165	8	to	to	ADP
fbem-29336	165	9	a	a	DET
fbem-29336	165	10	stability	stability	NOUN
fbem-29336	165	11	test	test	NOUN
fbem-29336	165	12	.	.	PUNCT
fbem-29336	166	1	the	the	DET
fbem-29336	166	2	results	result	NOUN
fbem-29336	166	3	in	in	ADP
fbem-29336	166	4	table	table	NOUN
fbem-29336	166	5	7	7	NUM
fbem-29336	166	6	demonstrate	demonstrate	VERB
fbem-29336	166	7	that	that	SCONJ
fbem-29336	166	8	the	the	DET
fbem-29336	166	9	replacement	replacement	NOUN
fbem-29336	166	10	of	of	ADP
fbem-29336	166	11	variables	variable	NOUN
fbem-29336	166	12	does	do	AUX
fbem-29336	166	13	not	not	PART
fbem-29336	166	14	affect	affect	VERB
fbem-29336	166	15	the	the	DET
fbem-29336	166	16	validity	validity	NOUN
fbem-29336	166	17	of	of	ADP
fbem-29336	166	18	hypotheses	hypothesis	NOUN
fbem-29336	166	19	1	1	NUM
fbem-29336	166	20	and	and	CCONJ
fbem-29336	166	21	2	2	NUM
fbem-29336	166	22	.	.	NOUN
fbem-29336	166	23	table	table	NOUN
fbem-29336	166	24	8	8	NUM
fbem-29336	166	25	.	.	PUNCT
fbem-29336	167	1	robustness	robustness	NOUN
fbem-29336	167	2	tests	test	NOUN
fbem-29336	167	3	(	(	PUNCT
fbem-29336	167	4	1	1	NUM
fbem-29336	167	5	)	)	PUNCT
fbem-29336	167	6	(	(	PUNCT
fbem-29336	167	7	2	2	NUM
fbem-29336	167	8	)	)	PUNCT
fbem-29336	167	9	(	(	PUNCT
fbem-29336	167	10	3	3	X
fbem-29336	167	11	)	)	PUNCT
fbem-29336	167	12	fc	fc	PROPN
fbem-29336	167	13	fc	fc	PROPN
fbem-29336	167	14	fc	fc	PROPN
fbem-29336	167	15	fintech	fintech	PROPN
fbem-29336	167	16	-0.8629	-0.8629	NOUN
fbem-29336	167	17	*	*	PUNCT
fbem-29336	167	18	*	*	PUNCT
fbem-29336	167	19	(	(	PUNCT
fbem-29336	167	20	0.3557	0.3557	NUM
fbem-29336	167	21	)	)	PUNCT
fbem-29336	167	22	-1.0097	-1.0097	NOUN
fbem-29336	167	23	*	*	PUNCT
fbem-29336	167	24	*	*	PUNCT
fbem-29336	167	25	*	*	PUNCT
fbem-29336	167	26	(	(	PUNCT
fbem-29336	167	27	0.2987	0.2987	NUM
fbem-29336	167	28	)	)	PUNCT
fbem-29336	167	29	constant	constant	ADJ
fbem-29336	167	30	term	term	NOUN
fbem-29336	167	31	-1.1860	-1.1860	NOUN
fbem-29336	167	32	*	*	PUNCT
fbem-29336	167	33	*	*	PUNCT
fbem-29336	167	34	*	*	PUNCT
fbem-29336	167	35	(	(	PUNCT
fbem-29336	167	36	0.2771	0.2771	NUM
fbem-29336	167	37	)	)	PUNCT
fbem-29336	167	38	-1.0135	-1.0135	NOUN
fbem-29336	167	39	*	*	PUNCT
fbem-29336	167	40	*	*	PUNCT
fbem-29336	167	41	*	*	PUNCT
fbem-29336	167	42	(	(	PUNCT
fbem-29336	167	43	0.2873	0.2873	NUM
fbem-29336	167	44	)	)	PUNCT
fbem-29336	167	45	-1.0238	-1.0238	NOUN
fbem-29336	167	46	*	*	PUNCT
fbem-29336	167	47	*	*	PUNCT
fbem-29336	167	48	*	*	PUNCT
fbem-29336	167	49	(	(	PUNCT
fbem-29336	167	50	0.2857	0.2857	NUM
fbem-29336	167	51	)	)	PUNCT
fbem-29336	167	52	ea	ea	ADP
fbem-29336	167	53	5.7852	5.7852	NUM
fbem-29336	167	54	*	*	PUNCT
fbem-29336	167	55	*	*	PUNCT
fbem-29336	167	56	*	*	PUNCT
fbem-29336	167	57	(	(	PUNCT
fbem-29336	167	58	0.3057	0.3057	NUM
fbem-29336	167	59	)	)	PUNCT
fbem-29336	167	60	5.8116	5.8116	NUM
fbem-29336	167	61	*	*	PUNCT
fbem-29336	167	62	*	*	PUNCT
fbem-29336	167	63	*	*	PUNCT
fbem-29336	167	64	(	(	PUNCT
fbem-29336	167	65	0.3040	0.3040	NUM
fbem-29336	167	66	)	)	PUNCT
fbem-29336	167	67	tar	tar	NOUN
fbem-29336	167	68	3.9197	3.9197	NUM
fbem-29336	167	69	*	*	PUNCT
fbem-29336	167	70	*	*	PUNCT
fbem-29336	167	71	*	*	PUNCT
fbem-29336	167	72	(	(	PUNCT
fbem-29336	167	73	0.3495	0.3495	NUM
fbem-29336	167	74	)	)	PUNCT
fbem-29336	167	75	3.3212	3.3212	NUM
fbem-29336	167	76	*	*	PUNCT
fbem-29336	167	77	*	*	PUNCT
fbem-29336	167	78	*	*	PUNCT
fbem-29336	167	79	(	(	PUNCT
fbem-29336	167	80	0.2891	0.2891	NUM
fbem-29336	167	81	)	)	PUNCT
fbem-29336	168	1	3.5323	3.5323	NUM
fbem-29336	168	2	*	*	PUNCT
fbem-29336	168	3	*	*	PUNCT
fbem-29336	168	4	*	*	PUNCT
fbem-29336	168	5	(	(	PUNCT
fbem-29336	168	6	0.2941	0.2941	NUM
fbem-29336	168	7	)	)	PUNCT
fbem-29336	168	8	growth	growth	NOUN
fbem-29336	168	9	-1.3521	-1.3521	NOUN
fbem-29336	168	10	*	*	PUNCT
fbem-29336	168	11	*	*	PUNCT
fbem-29336	168	12	*	*	PUNCT
fbem-29336	168	13	(	(	PUNCT
fbem-29336	168	14	0.3445	0.3445	NUM
fbem-29336	168	15	)	)	PUNCT
fbem-29336	168	16	-1.1616	-1.1616	NOUN
fbem-29336	168	17	*	*	PUNCT
fbem-29336	168	18	*	*	PUNCT
fbem-29336	168	19	*	*	PUNCT
fbem-29336	168	20	(	(	PUNCT
fbem-29336	168	21	0.2911	0.2911	NUM
fbem-29336	168	22	)	)	PUNCT
fbem-29336	168	23	-1.1821	-1.1821	NOUN
fbem-29336	168	24	*	*	PUNCT
fbem-29336	168	25	*	*	PUNCT
fbem-29336	168	26	*	*	PUNCT
fbem-29336	168	27	(	(	PUNCT
fbem-29336	168	28	0.2894	0.2894	NUM
fbem-29336	168	29	)	)	PUNCT
fbem-29336	168	30	roe	roe	NOUN
fbem-29336	168	31	3.2106	3.2106	NUM
fbem-29336	168	32	*	*	PUNCT
fbem-29336	168	33	*	*	PUNCT
fbem-29336	168	34	*	*	PUNCT
fbem-29336	168	35	(	(	PUNCT
fbem-29336	168	36	0.3357	0.3357	NUM
fbem-29336	168	37	)	)	PUNCT
fbem-29336	168	38	1.9769	1.9769	NUM
fbem-29336	168	39	*	*	PUNCT
fbem-29336	168	40	*	*	PUNCT
fbem-29336	168	41	*	*	PUNCT
fbem-29336	168	42	(	(	PUNCT
fbem-29336	168	43	0.2910	0.2910	NUM
fbem-29336	168	44	)	)	PUNCT
fbem-29336	168	45	1.9172	1.9172	NUM
fbem-29336	168	46	*	*	PUNCT
fbem-29336	168	47	*	*	PUNCT
fbem-29336	168	48	*	*	PUNCT
fbem-29336	168	49	(	(	PUNCT
fbem-29336	168	50	0.2898	0.2898	NUM
fbem-29336	168	51	)	)	PUNCT
fbem-29336	168	52	npm	npm	NOUN
fbem-29336	168	53	2.3705	2.3705	NUM
fbem-29336	168	54	*	*	PUNCT
fbem-29336	168	55	*	*	PUNCT
fbem-29336	168	56	*	*	PUNCT
fbem-29336	168	57	(	(	PUNCT
fbem-29336	168	58	0.3699	0.3699	NUM
fbem-29336	168	59	)	)	PUNCT
fbem-29336	168	60	2.1889	2.1889	NUM
fbem-29336	168	61	*	*	PUNCT
fbem-29336	168	62	*	*	PUNCT
fbem-29336	168	63	*	*	PUNCT
fbem-29336	168	64	(	(	PUNCT
fbem-29336	168	65	0.3124	0.3124	NUM
fbem-29336	168	66	)	)	PUNCT
fbem-29336	168	67	2.1499	2.1499	NUM
fbem-29336	168	68	*	*	PUNCT
fbem-29336	168	69	*	*	PUNCT
fbem-29336	168	70	*	*	PUNCT
fbem-29336	168	71	(	(	PUNCT
fbem-29336	168	72	0.3108	0.3108	NUM
fbem-29336	168	73	)	)	PUNCT
fbem-29336	168	74	asset	asset	NOUN
fbem-29336	168	75	0.8247	0.8247	NUM
fbem-29336	168	76	*	*	PUNCT
fbem-29336	168	77	*	*	PUNCT
fbem-29336	168	78	*	*	PUNCT
fbem-29336	168	79	(	(	PUNCT
fbem-29336	168	80	0.3397	0.3397	NUM
fbem-29336	168	81	)	)	PUNCT
fbem-29336	169	1	1.0250	1.0250	NUM
fbem-29336	169	2	*	*	PUNCT
fbem-29336	169	3	*	*	PUNCT
fbem-29336	169	4	*	*	PUNCT
fbem-29336	169	5	(	(	PUNCT
fbem-29336	169	6	0.2862	0.2862	NUM
fbem-29336	169	7	)	)	PUNCT
fbem-29336	169	8	1.1059	1.1059	NUM
fbem-29336	169	9	*	*	PUNCT
fbem-29336	169	10	*	*	PUNCT
fbem-29336	169	11	*	*	PUNCT
fbem-29336	169	12	(	(	PUNCT
fbem-29336	169	13	0.2855	0.2855	NUM
fbem-29336	169	14	)	)	PUNCT
fbem-29336	169	15	sd	sd	NOUN
fbem-29336	169	16	-0.8310	-0.8310	NOUN
fbem-29336	169	17	(	(	PUNCT
fbem-29336	169	18	0.5306	0.5306	NUM
fbem-29336	169	19	)	)	PUNCT
fbem-29336	169	20	-1.0527	-1.0527	PROPN
fbem-29336	170	1	*	*	PUNCT
fbem-29336	170	2	*	*	PUNCT
fbem-29336	170	3	(	(	PUNCT
fbem-29336	170	4	0.4479	0.4479	NUM
fbem-29336	170	5	)	)	PUNCT
fbem-29336	170	6	-1.0005	-1.0005	VERB
fbem-29336	171	1	*	*	PUNCT
fbem-29336	171	2	*	*	PUNCT
fbem-29336	171	3	(	(	PUNCT
fbem-29336	171	4	0.4456	0.4456	NUM
fbem-29336	171	5	)	)	PUNCT
fbem-29336	171	6	individual	individual	ADJ
fbem-29336	171	7	effect	effect	NOUN
fbem-29336	172	1	yes	yes	INTJ
fbem-29336	172	2	yes	yes	INTJ
fbem-29336	173	1	yes	yes	INTJ
fbem-29336	173	2	time	time	NOUN
fbem-29336	173	3	effect	effect	NOUN
fbem-29336	174	1	yes	yes	INTJ
fbem-29336	174	2	yes	yes	INTJ
fbem-29336	175	1	yes	yes	INTJ
fbem-29336	175	2	observations	observation	NOUN
fbem-29336	176	1	905	905	NUM
fbem-29336	177	1	905	905	NUM
fbem-29336	177	2	905	905	NUM
fbem-29336	177	3	r	r	NOUN
fbem-29336	177	4	-	-	PUNCT
fbem-29336	177	5	square	square	ADJ
fbem-29336	177	6	0.3140	0.3140	NUM
fbem-29336	177	7	0.5107	0.5107	NUM
fbem-29336	177	8	0.5170	0.5170	NUM
fbem-29336	177	9	195	195	NUM
fbem-29336	177	10	7	7	NUM
fbem-29336	177	11	.	.	PUNCT
fbem-29336	177	12	conclusion	conclusion	NOUN
fbem-29336	177	13	and	and	CCONJ
fbem-29336	177	14	policy	policy	NOUN
fbem-29336	177	15	recommendations	recommendation	NOUN
fbem-29336	177	16	this	this	DET
fbem-29336	177	17	paper	paper	NOUN
fbem-29336	177	18	employs	employ	VERB
fbem-29336	177	19	data	datum	NOUN
fbem-29336	177	20	from	from	ADP
fbem-29336	177	21	the	the	DET
fbem-29336	177	22	strategic	strategic	ADJ
fbem-29336	177	23	emerging	emerge	VERB
fbem-29336	177	24	industry	industry	NOUN
fbem-29336	177	25	enterprises	enterprise	NOUN
fbem-29336	177	26	of	of	ADP
fbem-29336	177	27	the	the	DET
fbem-29336	177	28	science	science	NOUN
fbem-29336	177	29	and	and	CCONJ
fbem-29336	177	30	technology	technology	NOUN
fbem-29336	177	31	innovation	innovation	NOUN
fbem-29336	177	32	board	board	NOUN
fbem-29336	177	33	from	from	ADP
fbem-29336	177	34	2016	2016	NUM
fbem-29336	177	35	to	to	ADP
fbem-29336	177	36	2020	2020	NUM
fbem-29336	177	37	as	as	ADP
fbem-29336	177	38	a	a	DET
fbem-29336	177	39	sample	sample	NOUN
fbem-29336	177	40	for	for	ADP
fbem-29336	177	41	the	the	DET
fbem-29336	177	42	construction	construction	NOUN
fbem-29336	177	43	of	of	ADP
fbem-29336	177	44	a	a	DET
fbem-29336	177	45	financing	financing	NOUN
fbem-29336	177	46	constraint	constraint	NOUN
fbem-29336	177	47	index	index	NOUN
fbem-29336	177	48	for	for	ADP
fbem-29336	177	49	science	science	NOUN
fbem-29336	177	50	and	and	CCONJ
fbem-29336	177	51	technology	technology	NOUN
fbem-29336	177	52	smes	sme	NOUN
fbem-29336	177	53	.	.	PUNCT
fbem-29336	178	1	the	the	DET
fbem-29336	178	2	introduction	introduction	NOUN
fbem-29336	178	3	of	of	ADP
fbem-29336	178	4	the	the	DET
fbem-29336	178	5	mediating	mediate	VERB
fbem-29336	178	6	variable	variable	ADJ
fbem-29336	178	7	indicator	indicator	NOUN
fbem-29336	178	8	information	information	NOUN
fbem-29336	178	9	asymmetry	asymmetry	NOUN
fbem-29336	178	10	is	be	AUX
fbem-29336	178	11	accompanied	accompany	VERB
fbem-29336	178	12	by	by	ADP
fbem-29336	178	13	the	the	DET
fbem-29336	178	14	use	use	NOUN
fbem-29336	178	15	of	of	ADP
fbem-29336	178	16	a	a	DET
fbem-29336	178	17	double	double	ADJ
fbem-29336	178	18	fixed	fix	VERB
fbem-29336	178	19	effect	effect	NOUN
fbem-29336	178	20	model	model	NOUN
fbem-29336	178	21	to	to	PART
fbem-29336	178	22	prove	prove	VERB
fbem-29336	178	23	the	the	DET
fbem-29336	178	24	impact	impact	NOUN
fbem-29336	178	25	of	of	ADP
fbem-29336	178	26	fintech	fintech	NOUN
fbem-29336	178	27	development	development	NOUN
fbem-29336	178	28	on	on	ADP
fbem-29336	178	29	the	the	DET
fbem-29336	178	30	financing	financing	NOUN
fbem-29336	178	31	constraints	constraint	NOUN
fbem-29336	178	32	of	of	ADP
fbem-29336	178	33	science	science	NOUN
fbem-29336	178	34	and	and	CCONJ
fbem-29336	178	35	technology	technology	NOUN
fbem-29336	178	36	smes	sme	NOUN
fbem-29336	178	37	.	.	PUNCT
fbem-29336	179	1	the	the	DET
fbem-29336	179	2	empirical	empirical	ADJ
fbem-29336	179	3	results	result	NOUN
fbem-29336	179	4	demonstrate	demonstrate	VERB
fbem-29336	179	5	that	that	SCONJ
fbem-29336	179	6	the	the	DET
fbem-29336	179	7	advancement	advancement	NOUN
fbem-29336	179	8	of	of	ADP
fbem-29336	179	9	fintech	fintech	NOUN
fbem-29336	179	10	for	for	ADP
fbem-29336	179	11	science	science	NOUN
fbem-29336	179	12	and	and	CCONJ
fbem-29336	179	13	technology	technology	NOUN
fbem-29336	179	14	smes	sme	NOUN
fbem-29336	179	15	can	can	AUX
fbem-29336	179	16	enhance	enhance	VERB
fbem-29336	179	17	the	the	DET
fbem-29336	179	18	level	level	NOUN
fbem-29336	179	19	of	of	ADP
fbem-29336	179	20	information	information	NOUN
fbem-29336	179	21	asymmetry	asymmetry	NOUN
fbem-29336	179	22	between	between	ADP
fbem-29336	179	23	them	they	PRON
fbem-29336	179	24	and	and	CCONJ
fbem-29336	179	25	investors	investor	NOUN
fbem-29336	179	26	.	.	PUNCT
fbem-29336	180	1	furthermore	furthermore	ADV
fbem-29336	180	2	,	,	PUNCT
fbem-29336	180	3	the	the	DET
fbem-29336	180	4	development	development	NOUN
fbem-29336	180	5	of	of	ADP
fbem-29336	180	6	fintech	fintech	NOUN
fbem-29336	180	7	can	can	AUX
fbem-29336	180	8	alleviate	alleviate	VERB
fbem-29336	180	9	the	the	DET
fbem-29336	180	10	financing	financing	NOUN
fbem-29336	180	11	constraints	constraint	NOUN
fbem-29336	180	12	of	of	ADP
fbem-29336	180	13	science	science	NOUN
fbem-29336	180	14	and	and	CCONJ
fbem-29336	180	15	technology	technology	NOUN
fbem-29336	180	16	smes	sme	NOUN
fbem-29336	180	17	.	.	PUNCT
fbem-29336	181	1	the	the	DET
fbem-29336	181	2	alleviation	alleviation	NOUN
fbem-29336	181	3	of	of	ADP
fbem-29336	181	4	these	these	DET
fbem-29336	181	5	constraints	constraint	NOUN
fbem-29336	181	6	is	be	AUX
fbem-29336	181	7	achieved	achieve	VERB
fbem-29336	181	8	through	through	ADP
fbem-29336	181	9	the	the	DET
fbem-29336	181	10	reduction	reduction	NOUN
fbem-29336	181	11	of	of	ADP
fbem-29336	181	12	information	information	NOUN
fbem-29336	181	13	asymmetry	asymmetry	NOUN
fbem-29336	181	14	.	.	PUNCT
fbem-29336	182	1	in	in	ADP
fbem-29336	182	2	order	order	NOUN
fbem-29336	182	3	for	for	ADP
fbem-29336	182	4	fintech	fintech	NOUN
fbem-29336	182	5	to	to	PART
fbem-29336	182	6	more	more	ADV
fbem-29336	182	7	effectively	effectively	ADV
fbem-29336	182	8	support	support	VERB
fbem-29336	182	9	the	the	DET
fbem-29336	182	10	growth	growth	NOUN
fbem-29336	182	11	of	of	ADP
fbem-29336	182	12	technology	technology	NOUN
fbem-29336	182	13	-	-	PUNCT
fbem-29336	182	14	focused	focus	VERB
fbem-29336	182	15	smes	sme	NOUN
fbem-29336	182	16	,	,	PUNCT
fbem-29336	182	17	two	two	NUM
fbem-29336	182	18	primary	primary	ADJ
fbem-29336	182	19	avenues	avenue	NOUN
fbem-29336	182	20	of	of	ADP
fbem-29336	182	21	intervention	intervention	NOUN
fbem-29336	182	22	have	have	AUX
fbem-29336	182	23	been	be	AUX
fbem-29336	182	24	identified	identify	VERB
fbem-29336	182	25	.	.	PUNCT
fbem-29336	183	1	(	(	PUNCT
fbem-29336	183	2	1	1	X
fbem-29336	183	3	)	)	PUNCT
fbem-29336	183	4	it	it	PRON
fbem-29336	183	5	is	be	AUX
fbem-29336	183	6	recommended	recommend	VERB
fbem-29336	183	7	that	that	SCONJ
fbem-29336	183	8	the	the	DET
fbem-29336	183	9	government	government	NOUN
fbem-29336	183	10	encourage	encourage	VERB
fbem-29336	183	11	financial	financial	ADJ
fbem-29336	183	12	institutions	institution	NOUN
fbem-29336	183	13	to	to	PART
fbem-29336	183	14	utilize	utilize	VERB
fbem-29336	183	15	technologies	technology	NOUN
fbem-29336	183	16	such	such	ADJ
fbem-29336	183	17	as	as	ADP
fbem-29336	183	18	big	big	ADJ
fbem-29336	183	19	data	datum	NOUN
fbem-29336	183	20	and	and	CCONJ
fbem-29336	183	21	cloud	cloud	NOUN
fbem-29336	183	22	computing	computing	NOUN
fbem-29336	183	23	to	to	PART
fbem-29336	183	24	establish	establish	VERB
fbem-29336	183	25	a	a	DET
fbem-29336	183	26	robust	robust	ADJ
fbem-29336	183	27	information	information	NOUN
fbem-29336	183	28	monitoring	monitoring	NOUN
fbem-29336	183	29	and	and	CCONJ
fbem-29336	183	30	processing	processing	NOUN
fbem-29336	183	31	system	system	NOUN
fbem-29336	183	32	and	and	CCONJ
fbem-29336	183	33	risk	risk	NOUN
fbem-29336	183	34	control	control	NOUN
fbem-29336	183	35	system	system	NOUN
fbem-29336	183	36	.	.	PUNCT
fbem-29336	184	1	this	this	PRON
fbem-29336	184	2	will	will	AUX
fbem-29336	184	3	facilitate	facilitate	VERB
fbem-29336	184	4	the	the	DET
fbem-29336	184	5	optimization	optimization	NOUN
fbem-29336	184	6	of	of	ADP
fbem-29336	184	7	financial	financial	ADJ
fbem-29336	184	8	service	service	NOUN
fbem-29336	184	9	processes	process	NOUN
fbem-29336	184	10	,	,	PUNCT
fbem-29336	184	11	enhance	enhance	VERB
fbem-29336	184	12	financial	financial	ADJ
fbem-29336	184	13	service	service	NOUN
fbem-29336	184	14	efficiency	efficiency	NOUN
fbem-29336	184	15	,	,	PUNCT
fbem-29336	184	16	and	and	CCONJ
fbem-29336	184	17	expand	expand	VERB
fbem-29336	184	18	financing	financing	NOUN
fbem-29336	184	19	channels	channel	NOUN
fbem-29336	184	20	and	and	CCONJ
fbem-29336	184	21	areas	area	NOUN
fbem-29336	184	22	,	,	PUNCT
fbem-29336	184	23	thereby	thereby	ADV
fbem-29336	184	24	providing	provide	VERB
fbem-29336	184	25	more	more	ADV
fbem-29336	184	26	robust	robust	ADJ
fbem-29336	184	27	financial	financial	ADJ
fbem-29336	184	28	support	support	NOUN
fbem-29336	184	29	for	for	ADP
fbem-29336	184	30	small	small	ADJ
fbem-29336	184	31	and	and	CCONJ
fbem-29336	184	32	medium	medium	ADJ
fbem-29336	184	33	-	-	PUNCT
fbem-29336	184	34	sized	sized	ADJ
fbem-29336	184	35	enterprises	enterprise	NOUN
fbem-29336	184	36	.	.	PUNCT
fbem-29336	185	1	this	this	PRON
fbem-29336	185	2	will	will	AUX
fbem-29336	185	3	facilitate	facilitate	VERB
fbem-29336	185	4	the	the	DET
fbem-29336	185	5	healthy	healthy	ADJ
fbem-29336	185	6	and	and	CCONJ
fbem-29336	185	7	rapid	rapid	ADJ
fbem-29336	185	8	development	development	NOUN
fbem-29336	185	9	of	of	ADP
fbem-29336	185	10	digital	digital	ADJ
fbem-29336	185	11	finance	finance	NOUN
fbem-29336	185	12	,	,	PUNCT
fbem-29336	185	13	reinforce	reinforce	VERB
fbem-29336	185	14	the	the	DET
fbem-29336	185	15	construction	construction	NOUN
fbem-29336	185	16	of	of	ADP
fbem-29336	185	17	digital	digital	ADJ
fbem-29336	185	18	financial	financial	ADJ
fbem-29336	185	19	infrastructure	infrastructure	NOUN
fbem-29336	185	20	,	,	PUNCT
fbem-29336	185	21	expand	expand	VERB
fbem-29336	185	22	the	the	DET
fbem-29336	185	23	range	range	NOUN
fbem-29336	185	24	of	of	ADP
fbem-29336	185	25	digital	digital	ADJ
fbem-29336	185	26	financial	financial	ADJ
fbem-29336	185	27	products	product	NOUN
fbem-29336	185	28	and	and	CCONJ
fbem-29336	185	29	services	service	NOUN
fbem-29336	185	30	,	,	PUNCT
fbem-29336	185	31	reduce	reduce	VERB
fbem-29336	185	32	application	application	NOUN
fbem-29336	185	33	costs	cost	NOUN
fbem-29336	185	34	,	,	PUNCT
fbem-29336	185	35	and	and	CCONJ
fbem-29336	185	36	enhance	enhance	VERB
fbem-29336	185	37	convenience	convenience	NOUN
fbem-29336	185	38	,	,	PUNCT
fbem-29336	185	39	thereby	thereby	ADV
fbem-29336	185	40	providing	provide	VERB
fbem-29336	185	41	a	a	DET
fbem-29336	185	42	conducive	conducive	ADJ
fbem-29336	185	43	financing	financing	NOUN
fbem-29336	185	44	environment	environment	NOUN
fbem-29336	185	45	for	for	ADP
fbem-29336	185	46	r&d	r&d	NOUN
fbem-29336	185	47	and	and	CCONJ
fbem-29336	185	48	innovation	innovation	NOUN
fbem-29336	185	49	of	of	ADP
fbem-29336	185	50	small	small	ADJ
fbem-29336	185	51	and	and	CCONJ
fbem-29336	185	52	mediumsized	mediumsized	ADJ
fbem-29336	185	53	enterprises	enterprise	NOUN
fbem-29336	185	54	.	.	PUNCT
fbem-29336	186	1	(	(	PUNCT
fbem-29336	186	2	2	2	X
fbem-29336	186	3	)	)	PUNCT
fbem-29336	186	4	small	small	ADJ
fbem-29336	186	5	and	and	CCONJ
fbem-29336	186	6	medium	medium	ADJ
fbem-29336	186	7	-	-	PUNCT
fbem-29336	186	8	sized	sized	ADJ
fbem-29336	186	9	technology	technology	NOUN
fbem-29336	186	10	companies	company	NOUN
fbem-29336	186	11	should	should	AUX
fbem-29336	186	12	enhance	enhance	VERB
fbem-29336	186	13	their	their	PRON
fbem-29336	186	14	internal	internal	ADJ
fbem-29336	186	15	management	management	NOUN
fbem-29336	186	16	practices	practice	NOUN
fbem-29336	186	17	,	,	PUNCT
fbem-29336	186	18	utilize	utilize	VERB
fbem-29336	186	19	the	the	DET
fbem-29336	186	20	internet	internet	NOUN
fbem-29336	186	21	,	,	PUNCT
fbem-29336	186	22	blockchain	blockchain	PROPN
fbem-29336	186	23	technology	technology	PROPN
fbem-29336	186	24	,	,	PUNCT
fbem-29336	186	25	and	and	CCONJ
fbem-29336	186	26	other	other	ADJ
fbem-29336	186	27	digital	digital	ADJ
fbem-29336	186	28	tools	tool	NOUN
fbem-29336	186	29	to	to	PART
fbem-29336	186	30	streamline	streamline	VERB
fbem-29336	186	31	the	the	DET
fbem-29336	186	32	aggregation	aggregation	NOUN
fbem-29336	186	33	of	of	ADP
fbem-29336	186	34	operational	operational	ADJ
fbem-29336	186	35	data	datum	NOUN
fbem-29336	186	36	,	,	PUNCT
fbem-29336	186	37	refine	refine	VERB
fbem-29336	186	38	the	the	DET
fbem-29336	186	39	quality	quality	NOUN
fbem-29336	186	40	of	of	ADP
fbem-29336	186	41	credit	credit	NOUN
fbem-29336	186	42	data	datum	NOUN
fbem-29336	186	43	,	,	PUNCT
fbem-29336	186	44	and	and	CCONJ
fbem-29336	186	45	thereby	thereby	ADV
fbem-29336	186	46	augment	augment	VERB
fbem-29336	186	47	the	the	DET
fbem-29336	186	48	credit	credit	NOUN
fbem-29336	186	49	capital	capital	NOUN
fbem-29336	186	50	available	available	ADJ
fbem-29336	186	51	to	to	ADP
fbem-29336	186	52	enterprises	enterprise	NOUN
fbem-29336	186	53	.	.	PUNCT
fbem-29336	187	1	the	the	DET
fbem-29336	187	2	accelerated	accelerate	VERB
fbem-29336	187	3	review	review	NOUN
fbem-29336	187	4	of	of	ADP
fbem-29336	187	5	nonfinancial	nonfinancial	ADJ
fbem-29336	187	6	information	information	NOUN
fbem-29336	187	7	and	and	CCONJ
fbem-29336	187	8	issuance	issuance	NOUN
fbem-29336	187	9	of	of	ADP
fbem-29336	187	10	loans	loan	NOUN
fbem-29336	187	11	can	can	AUX
fbem-29336	187	12	be	be	AUX
fbem-29336	187	13	achieved	achieve	VERB
fbem-29336	187	14	through	through	ADP
fbem-29336	187	15	the	the	DET
fbem-29336	187	16	development	development	NOUN
fbem-29336	187	17	of	of	ADP
fbem-29336	187	18	technologies	technology	NOUN
fbem-29336	187	19	such	such	ADJ
fbem-29336	187	20	as	as	ADP
fbem-29336	187	21	big	big	ADJ
fbem-29336	187	22	data	datum	NOUN
fbem-29336	187	23	credit	credit	NOUN
fbem-29336	187	24	assessment	assessment	NOUN
fbem-29336	187	25	,	,	PUNCT
fbem-29336	187	26	thereby	thereby	ADV
fbem-29336	187	27	reducing	reduce	VERB
fbem-29336	187	28	financing	financing	NOUN
fbem-29336	187	29	costs	cost	NOUN
fbem-29336	187	30	.	.	PUNCT
fbem-29336	188	1	the	the	DET
fbem-29336	188	2	advancement	advancement	NOUN
fbem-29336	188	3	of	of	ADP
fbem-29336	188	4	fintech	fintech	NOUN
fbem-29336	188	5	,	,	PUNCT
fbem-29336	188	6	the	the	DET
fbem-29336	188	7	mining	mining	NOUN
fbem-29336	188	8	of	of	ADP
fbem-29336	188	9	extensive	extensive	ADJ
fbem-29336	188	10	data	datum	NOUN
fbem-29336	188	11	through	through	ADP
fbem-29336	188	12	information	information	NOUN
fbem-29336	188	13	technology	technology	NOUN
fbem-29336	188	14	,	,	PUNCT
fbem-29336	188	15	and	and	CCONJ
fbem-29336	188	16	the	the	DET
fbem-29336	188	17	reasonable	reasonable	ADJ
fbem-29336	188	18	matching	matching	NOUN
fbem-29336	188	19	of	of	ADP
fbem-29336	188	20	credit	credit	NOUN
fbem-29336	188	21	resources	resource	NOUN
fbem-29336	188	22	with	with	ADP
fbem-29336	188	23	the	the	DET
fbem-29336	188	24	technological	technological	ADJ
fbem-29336	188	25	innovation	innovation	NOUN
fbem-29336	188	26	projects	project	NOUN
fbem-29336	188	27	of	of	ADP
fbem-29336	188	28	enterprises	enterprise	NOUN
fbem-29336	188	29	can	can	AUX
fbem-29336	188	30	be	be	AUX
fbem-29336	188	31	facilitated	facilitate	VERB
fbem-29336	188	32	to	to	PART
fbem-29336	188	33	avoid	avoid	VERB
fbem-29336	188	34	adverse	adverse	ADJ
fbem-29336	188	35	selection	selection	NOUN
fbem-29336	188	36	and	and	CCONJ
fbem-29336	188	37	moral	moral	ADJ
fbem-29336	188	38	hazard	hazard	NOUN
fbem-29336	188	39	problems	problem	NOUN
fbem-29336	188	40	.	.	PUNCT
fbem-29336	189	1	references	reference	NOUN
fbem-29336	189	2	[	[	X
fbem-29336	189	3	1	1	NUM
fbem-29336	189	4	]	]	X
fbem-29336	189	5	zhang	zhang	PROPN
fbem-29336	189	6	,	,	PUNCT
fbem-29336	189	7	y.	y.	PROPN
fbem-29336	189	8	(	(	PUNCT
fbem-29336	189	9	2015	2015	NUM
fbem-29336	189	10	)	)	PUNCT
fbem-29336	189	11	.	.	PUNCT
fbem-29336	190	1	research	research	NOUN
fbem-29336	190	2	on	on	ADP
fbem-29336	190	3	financing	financing	NOUN
fbem-29336	190	4	problems	problem	NOUN
fbem-29336	190	5	of	of	ADP
fbem-29336	190	6	science	science	NOUN
fbem-29336	190	7	and	and	CCONJ
fbem-29336	190	8	technology	technology	NOUN
fbem-29336	190	9	-	-	PUNCT
fbem-29336	190	10	based	base	VERB
fbem-29336	190	11	small	small	ADJ
fbem-29336	190	12	and	and	CCONJ
fbem-29336	190	13	medium	medium	ADJ
fbem-29336	190	14	-	-	PUNCT
fbem-29336	190	15	sized	sized	ADJ
fbem-29336	190	16	enterprises	enterprise	NOUN
fbem-29336	190	17	under	under	ADP
fbem-29336	190	18	the	the	DET
fbem-29336	190	19	background	background	NOUN
fbem-29336	190	20	of	of	ADP
fbem-29336	190	21	internet	internet	NOUN
fbem-29336	190	22	finance	finance	NOUN
fbem-29336	190	23	.	.	PUNCT
fbem-29336	191	1	guangdong	guangdong	PROPN
fbem-29336	191	2	science	science	PROPN
fbem-29336	191	3	and	and	CCONJ
fbem-29336	191	4	technology	technology	NOUN
fbem-29336	191	5	(	(	PUNCT
fbem-29336	191	6	14	14	NUM
fbem-29336	191	7	)	)	PUNCT
fbem-29336	191	8	,	,	PUNCT
fbem-29336	191	9	32	32	NUM
fbem-29336	191	10	-	-	SYM
fbem-29336	191	11	33	33	NUM
fbem-29336	191	12	.	.	PUNCT
fbem-29336	192	1	[	[	X
fbem-29336	192	2	2	2	NUM
fbem-29336	192	3	]	]	X
fbem-29336	192	4	zhao	zhao	X
fbem-29336	192	5	,	,	PUNCT
fbem-29336	192	6	y.	y.	PROPN
fbem-29336	192	7	(	(	PUNCT
fbem-29336	192	8	2013	2013	NUM
fbem-29336	192	9	)	)	PUNCT
fbem-29336	192	10	.	.	PUNCT
fbem-29336	193	1	research	research	NOUN
fbem-29336	193	2	on	on	ADP
fbem-29336	193	3	information	information	NOUN
fbem-29336	193	4	asymmetry	asymmetry	NOUN
fbem-29336	193	5	of	of	ADP
fbem-29336	193	6	financing	financing	NOUN
fbem-29336	193	7	and	and	CCONJ
fbem-29336	193	8	its	its	PRON
fbem-29336	193	9	cracking	cracking	NOUN
fbem-29336	193	10	model	model	NOUN
fbem-29336	193	11	for	for	ADP
fbem-29336	193	12	science	science	NOUN
fbem-29336	193	13	and	and	CCONJ
fbem-29336	193	14	technologybased	technologybase	VERB
fbem-29336	193	15	small	small	ADJ
fbem-29336	193	16	and	and	CCONJ
fbem-29336	193	17	medium	medium	ADJ
fbem-29336	193	18	-	-	PUNCT
fbem-29336	193	19	sized	sized	ADJ
fbem-29336	193	20	enterprises	enterprise	NOUN
fbem-29336	193	21	.	.	PUNCT
fbem-29336	194	1	science	science	NOUN
fbem-29336	194	2	and	and	CCONJ
fbem-29336	194	3	technology	technology	NOUN
fbem-29336	194	4	progress	progress	NOUN
fbem-29336	194	5	and	and	CCONJ
fbem-29336	194	6	countermeasures	countermeasure	NOUN
fbem-29336	194	7	(	(	PUNCT
fbem-29336	194	8	18	18	NUM
fbem-29336	194	9	)	)	PUNCT
fbem-29336	194	10	,	,	PUNCT
fbem-29336	194	11	148	148	NUM
fbem-29336	194	12	-	-	SYM
fbem-29336	194	13	151	151	NUM
fbem-29336	194	14	.	.	PUNCT
fbem-29336	195	1	[	[	X
fbem-29336	195	2	3	3	NUM
fbem-29336	195	3	]	]	SYM
fbem-29336	195	4	yao	yao	NOUN
fbem-29336	195	5	,	,	PUNCT
fbem-29336	195	6	w.	w.	PROPN
fbem-29336	195	7	,	,	PUNCT
fbem-29336	195	8	juan	juan	PROPN
fbem-29336	195	9	,	,	PUNCT
fbem-29336	195	10	x.	x.	PROPN
fbem-29336	195	11	,	,	PUNCT
fbem-29336	195	12	&	&	CCONJ
fbem-29336	195	13	sun	sun	PROPN
fbem-29336	195	14	,	,	PUNCT
fbem-29336	195	15	t.	t.	PROPN
fbem-29336	195	16	(	(	PUNCT
fbem-29336	195	17	2017	2017	NUM
fbem-29336	195	18	)	)	PUNCT
fbem-29336	195	19	.	.	PUNCT
fbem-29336	196	1	research	research	NOUN
fbem-29336	196	2	on	on	ADP
fbem-29336	196	3	financing	financing	NOUN
fbem-29336	196	4	constraints	constraint	NOUN
fbem-29336	196	5	of	of	ADP
fbem-29336	196	6	science	science	NOUN
fbem-29336	196	7	and	and	CCONJ
fbem-29336	196	8	technology	technology	NOUN
fbem-29336	196	9	-	-	PUNCT
fbem-29336	196	10	based	base	VERB
fbem-29336	196	11	small	small	ADJ
fbem-29336	196	12	and	and	CCONJ
fbem-29336	196	13	medium	medium	ADJ
fbem-29336	196	14	-	-	PUNCT
fbem-29336	196	15	sized	sized	ADJ
fbem-29336	196	16	enterprises	enterprise	NOUN
fbem-29336	196	17	and	and	CCONJ
fbem-29336	196	18	their	their	PRON
fbem-29336	196	19	mitigation	mitigation	NOUN
fbem-29336	196	20	under	under	ADP
fbem-29336	196	21	the	the	DET
fbem-29336	196	22	perspective	perspective	NOUN
fbem-29336	196	23	of	of	ADP
fbem-29336	196	24	supply	supply	NOUN
fbem-29336	196	25	chain	chain	NOUN
fbem-29336	196	26	finance	finance	NOUN
fbem-29336	196	27	.	.	PUNCT
fbem-29336	197	1	science	science	NOUN
fbem-29336	197	2	and	and	CCONJ
fbem-29336	197	3	technology	technology	NOUN
fbem-29336	197	4	progress	progress	NOUN
fbem-29336	197	5	and	and	CCONJ
fbem-29336	197	6	countermeasures	countermeasure	NOUN
fbem-29336	197	7	(	(	PUNCT
fbem-29336	197	8	04	04	NUM
fbem-29336	197	9	)	)	PUNCT
fbem-29336	197	10	,	,	PUNCT
fbem-29336	197	11	105	105	NUM
fbem-29336	197	12	-	-	SYM
fbem-29336	197	13	110	110	NUM
fbem-29336	197	14	.	.	PUNCT
fbem-29336	198	1	[	[	X
fbem-29336	198	2	4	4	NUM
fbem-29336	198	3	]	]	X
fbem-29336	198	4	liu	liu	PROPN
fbem-29336	198	5	,	,	PUNCT
fbem-29336	198	6	x.	x.	PROPN
fbem-29336	198	7	,	,	PUNCT
fbem-29336	198	8	wu	wu	PROPN
fbem-29336	198	9	,	,	PUNCT
fbem-29336	198	10	f.	f.	PROPN
fbem-29336	198	11	,	,	PUNCT
fbem-29336	198	12	&	&	CCONJ
fbem-29336	198	13	ye	ye	PROPN
fbem-29336	198	14	,	,	PUNCT
fbem-29336	198	15	h.	h.	PROPN
fbem-29336	198	16	(	(	PUNCT
fbem-29336	198	17	2022	2022	NUM
fbem-29336	198	18	)	)	PUNCT
fbem-29336	198	19	.	.	PUNCT
fbem-29336	199	1	the	the	DET
fbem-29336	199	2	impact	impact	NOUN
fbem-29336	199	3	of	of	ADP
fbem-29336	199	4	financial	financial	ADJ
fbem-29336	199	5	technology	technology	NOUN
fbem-29336	199	6	on	on	ADP
fbem-29336	199	7	corporate	corporate	ADJ
fbem-29336	199	8	finance	finance	NOUN
fbem-29336	199	9	constraints	constraint	VERB
fbem-29336	199	10	structural	structural	ADJ
fbem-29336	199	11	optimization	optimization	NOUN
fbem-29336	199	12	,	,	PUNCT
fbem-29336	199	13	mechanism	mechanism	NOUN
fbem-29336	199	14	test	test	NOUN
fbem-29336	199	15	and	and	CCONJ
fbem-29336	199	16	differences	difference	NOUN
fbem-29336	199	17	in	in	ADP
fbem-29336	199	18	financial	financial	ADJ
fbem-29336	199	19	regulation	regulation	NOUN
fbem-29336	199	20	effects	effect	NOUN
fbem-29336	199	21	.	.	PUNCT
fbem-29336	200	1	financial	financial	ADJ
fbem-29336	200	2	forum	forum	PROPN
fbem-29336	200	3	(	(	PUNCT
fbem-29336	200	4	07	07	NUM
fbem-29336	200	5	)	)	PUNCT
fbem-29336	200	6	,	,	PUNCT
fbem-29336	200	7	22	22	NUM
fbem-29336	200	8	-	-	SYM
fbem-29336	200	9	31	31	NUM
fbem-29336	200	10	.	.	PUNCT
fbem-29336	201	1	[	[	X
fbem-29336	201	2	5	5	NUM
fbem-29336	201	3	]	]	SYM
fbem-29336	201	4	ma	ma	PROPN
fbem-29336	201	5	,	,	PUNCT
fbem-29336	201	6	w.	w.	PROPN
fbem-29336	201	7	,	,	PUNCT
fbem-29336	201	8	&	&	CCONJ
fbem-29336	201	9	zhang	zhang	PROPN
fbem-29336	201	10	,	,	PUNCT
fbem-29336	201	11	r.	r.	PROPN
fbem-29336	201	12	(	(	PUNCT
fbem-29336	201	13	2019	2019	NUM
fbem-29336	201	14	)	)	PUNCT
fbem-29336	201	15	.	.	PUNCT
fbem-29336	202	1	financial	financial	ADJ
fbem-29336	202	2	science	science	NOUN
fbem-29336	202	3	and	and	CCONJ
fbem-29336	202	4	technology	technology	NOUN
fbem-29336	202	5	innovation	innovation	NOUN
fbem-29336	202	6	to	to	PART
fbem-29336	202	7	help	help	VERB
fbem-29336	202	8	science	science	NOUN
fbem-29336	202	9	and	and	CCONJ
fbem-29336	202	10	technology	technology	NOUN
fbem-29336	202	11	-	-	PUNCT
fbem-29336	202	12	based	base	VERB
fbem-29336	202	13	small	small	ADJ
fbem-29336	202	14	and	and	CCONJ
fbem-29336	202	15	medium	medium	ADJ
fbem-29336	202	16	-	-	PUNCT
fbem-29336	202	17	sized	sized	ADJ
fbem-29336	202	18	enterprise	enterprise	NOUN
fbem-29336	202	19	financing	financing	NOUN
fbem-29336	202	20	--	--	PUNCT
fbem-29336	202	21	an	an	DET
fbem-29336	202	22	analysis	analysis	NOUN
fbem-29336	202	23	based	base	VERB
fbem-29336	202	24	on	on	ADP
fbem-29336	202	25	the	the	DET
fbem-29336	202	26	perspective	perspective	NOUN
fbem-29336	202	27	of	of	ADP
fbem-29336	202	28	enterprise	enterprise	NOUN
fbem-29336	202	29	life	life	NOUN
fbem-29336	202	30	cycle	cycle	NOUN
fbem-29336	202	31	.	.	PUNCT
fbem-29336	203	1	science	science	NOUN
fbem-29336	203	2	and	and	CCONJ
fbem-29336	203	3	technology	technology	NOUN
fbem-29336	203	4	management	management	NOUN
fbem-29336	203	5	research	research	NOUN
fbem-29336	203	6	(	(	PUNCT
fbem-29336	203	7	22	22	NUM
fbem-29336	203	8	)	)	PUNCT
fbem-29336	203	9	,	,	PUNCT
fbem-29336	203	10	114	114	NUM
fbem-29336	203	11	-	-	SYM
fbem-29336	203	12	121	121	NUM
fbem-29336	203	13	.	.	PUNCT
fbem-29336	204	1	[	[	X
fbem-29336	204	2	6	6	NUM
fbem-29336	204	3	]	]	X
fbem-29336	204	4	feng	feng	PROPN
fbem-29336	204	5	,	,	PUNCT
fbem-29336	204	6	x.	x.	PROPN
fbem-29336	204	7	,	,	PUNCT
fbem-29336	204	8	zhou	zhou	PROPN
fbem-29336	204	9	,	,	PUNCT
fbem-29336	204	10	z.	z.	PROPN
fbem-29336	204	11	&	&	CCONJ
fbem-29336	204	12	qi	qi	PROPN
fbem-29336	204	13	,	,	PUNCT
fbem-29336	204	14	x.	x.	NOUN
fbem-29336	204	15	(	(	PUNCT
fbem-29336	204	16	2023	2023	NUM
fbem-29336	204	17	)	)	PUNCT
fbem-29336	204	18	.	.	PUNCT
fbem-29336	205	1	financial	financial	ADJ
fbem-29336	205	2	technology	technology	NOUN
fbem-29336	205	3	development	development	NOUN
fbem-29336	205	4	and	and	CCONJ
fbem-29336	205	5	the	the	DET
fbem-29336	205	6	growth	growth	NOUN
fbem-29336	205	7	of	of	ADP
fbem-29336	205	8	science	science	NOUN
fbem-29336	205	9	and	and	CCONJ
fbem-29336	205	10	technology	technology	NOUN
fbem-29336	205	11	smes	sme	NOUN
fbem-29336	205	12	:	:	PUNCT
fbem-29336	205	13	evidence	evidence	NOUN
fbem-29336	205	14	from	from	ADP
fbem-29336	205	15	“	"	PUNCT
fbem-29336	205	16	small	small	ADJ
fbem-29336	205	17	giant	giant	NOUN
fbem-29336	205	18	”	"	PUNCT
fbem-29336	205	19	enterprises	enterprise	NOUN
fbem-29336	205	20	with	with	ADP
fbem-29336	205	21	specialties	specialty	NOUN
fbem-29336	205	22	.	.	PUNCT
fbem-29336	206	1	technological	technological	ADJ
fbem-29336	206	2	economy	economy	NOUN
fbem-29336	206	3	(	(	PUNCT
fbem-29336	206	4	11	11	NUM
fbem-29336	206	5	)	)	PUNCT
fbem-29336	206	6	,	,	PUNCT
fbem-29336	206	7	103	103	NUM
fbem-29336	206	8	-	-	SYM
fbem-29336	206	9	112	112	NUM
fbem-29336	206	10	.	.	PUNCT
fbem-29336	207	1	[	[	X
fbem-29336	207	2	7	7	NUM
fbem-29336	207	3	]	]	X
fbem-29336	207	4	stewart	stewart	PROPN
fbem-29336	207	5	,	,	PUNCT
fbem-29336	207	6	m.	m.	NOUN
fbem-29336	207	7	,	,	PUNCT
fbem-29336	207	8	&	&	CCONJ
fbem-29336	207	9	nicholas	nicholas	PROPN
fbem-29336	207	10	,	,	PUNCT
fbem-29336	207	11	m.	m.	NOUN
fbem-29336	207	12	(	(	PUNCT
fbem-29336	207	13	1984	1984	NUM
fbem-29336	207	14	)	)	PUNCT
fbem-29336	207	15	.	.	PUNCT
fbem-29336	208	1	corporate	corporate	ADJ
fbem-29336	208	2	financing	financing	NOUN
fbem-29336	208	3	and	and	CCONJ
fbem-29336	208	4	investment	investment	NOUN
fbem-29336	208	5	decisions	decision	NOUN
fbem-29336	208	6	when	when	SCONJ
fbem-29336	208	7	firms	firm	NOUN
fbem-29336	208	8	have	have	VERB
fbem-29336	208	9	information	information	NOUN
fbem-29336	208	10	that	that	SCONJ
fbem-29336	208	11	investors	investor	NOUN
fbem-29336	208	12	do	do	AUX
fbem-29336	208	13	not	not	PART
fbem-29336	208	14	have	have	VERB
fbem-29336	208	15	.	.	PUNCT
fbem-29336	209	1	journal	journal	NOUN
fbem-29336	209	2	of	of	ADP
fbem-29336	209	3	financial	financial	ADJ
fbem-29336	209	4	economics	economic	NOUN
fbem-29336	209	5	,	,	PUNCT
fbem-29336	209	6	13(2	13(2	PROPN
fbem-29336	209	7	)	)	PUNCT
fbem-29336	209	8	,	,	PUNCT
fbem-29336	209	9	187	187	NUM
fbem-29336	209	10	-	-	SYM
fbem-29336	209	11	221	221	NUM
fbem-29336	209	12	.	.	PUNCT
fbem-29336	210	1	[	[	X
fbem-29336	210	2	8	8	NUM
fbem-29336	210	3	]	]	X
fbem-29336	210	4	fazzari	fazzari	NOUN
fbem-29336	210	5	,	,	PUNCT
fbem-29336	210	6	s.	s.	PROPN
fbem-29336	210	7	,	,	PUNCT
fbem-29336	210	8	hubbard	hubbard	PROPN
fbem-29336	210	9	,	,	PUNCT
fbem-29336	210	10	r.	r.	PROPN
fbem-29336	210	11	g.	g.	PROPN
fbem-29336	210	12	,	,	PUNCT
fbem-29336	210	13	&	&	CCONJ
fbem-29336	210	14	petersen	petersen	PROPN
fbem-29336	210	15	,	,	PUNCT
fbem-29336	210	16	b.	b.	PROPN
fbem-29336	210	17	c.	c.	PROPN
fbem-29336	210	18	(	(	PUNCT
fbem-29336	210	19	1987	1987	NUM
fbem-29336	210	20	)	)	PUNCT
fbem-29336	210	21	.	.	PUNCT
fbem-29336	211	1	financing	financing	NOUN
fbem-29336	211	2	constraints	constraint	NOUN
fbem-29336	211	3	and	and	CCONJ
fbem-29336	211	4	corporate	corporate	ADJ
fbem-29336	211	5	investment	investment	NOUN
fbem-29336	211	6	.	.	PUNCT
fbem-29336	212	1	[	[	X
fbem-29336	212	2	9	9	NUM
fbem-29336	212	3	]	]	X
fbem-29336	212	4	stiglitz	stiglitz	PROPN
fbem-29336	212	5	,	,	PUNCT
fbem-29336	212	6	j.	j.	PROPN
fbem-29336	212	7	e.	e.	PROPN
fbem-29336	212	8	,	,	PUNCT
fbem-29336	212	9	&	&	CCONJ
fbem-29336	212	10	weiss	weiss	PROPN
fbem-29336	212	11	,	,	PUNCT
fbem-29336	212	12	a.	a.	NOUN
fbem-29336	212	13	(	(	PUNCT
fbem-29336	212	14	1981	1981	NUM
fbem-29336	212	15	)	)	PUNCT
fbem-29336	212	16	.	.	PUNCT
fbem-29336	213	1	credit	credit	NOUN
fbem-29336	213	2	rationing	ration	VERB
fbem-29336	213	3	in	in	ADP
fbem-29336	213	4	markets	market	NOUN
fbem-29336	213	5	with	with	ADP
fbem-29336	213	6	imperfect	imperfect	ADJ
fbem-29336	213	7	information	information	NOUN
fbem-29336	213	8	.	.	PUNCT
fbem-29336	214	1	the	the	DET
fbem-29336	214	2	american	american	PROPN
fbem-29336	214	3	economic	economic	PROPN
fbem-29336	214	4	review	review	PROPN
fbem-29336	214	5	,	,	PUNCT
fbem-29336	214	6	71(3	71(3	NUM
fbem-29336	214	7	)	)	PUNCT
fbem-29336	214	8	,	,	PUNCT
fbem-29336	214	9	393	393	NUM
fbem-29336	214	10	-	-	SYM
fbem-29336	214	11	410	410	NUM
fbem-29336	214	12	.	.	PUNCT
fbem-29336	215	1	[	[	X
fbem-29336	215	2	10	10	NUM
fbem-29336	215	3	]	]	X
fbem-29336	215	4	lu	lu	PROPN
fbem-29336	215	5	politburo	politburo	PROPN
fbem-29336	215	6	.	.	PUNCT
fbem-29336	216	1	(	(	PUNCT
fbem-29336	216	2	2012	2012	NUM
fbem-29336	216	3	)	)	PUNCT
fbem-29336	216	4	.	.	PUNCT
fbem-29336	217	1	information	information	NOUN
fbem-29336	217	2	asymmetry	asymmetry	NOUN
fbem-29336	217	3	is	be	AUX
fbem-29336	217	4	the	the	DET
fbem-29336	217	5	crux	crux	NOUN
fbem-29336	217	6	of	of	ADP
fbem-29336	217	7	financing	finance	VERB
fbem-29336	217	8	difficulties	difficulty	NOUN
fbem-29336	217	9	for	for	ADP
fbem-29336	217	10	micro	micro	ADJ
fbem-29336	217	11	and	and	CCONJ
fbem-29336	217	12	small	small	ADJ
fbem-29336	217	13	enterprises	enterprise	NOUN
fbem-29336	217	14	.	.	PUNCT
fbem-29336	218	1	china	china	PROPN
fbem-29336	218	2	finance	finance	PROPN
fbem-29336	218	3	(	(	PUNCT
fbem-29336	218	4	09	09	NUM
fbem-29336	218	5	)	)	PUNCT
fbem-29336	218	6	,	,	PUNCT
fbem-29336	218	7	90	90	NUM
fbem-29336	218	8	-	-	SYM
fbem-29336	218	9	92	92	NUM
fbem-29336	218	10	.	.	PUNCT
fbem-29336	219	1	[	[	X
fbem-29336	219	2	11	11	NUM
fbem-29336	219	3	]	]	X
fbem-29336	219	4	zhang	zhang	PROPN
fbem-29336	219	5	,	,	PUNCT
fbem-29336	219	6	w.	w.	PROPN
fbem-29336	219	7	(	(	PUNCT
fbem-29336	219	8	1996	1996	NUM
fbem-29336	219	9	)	)	PUNCT
fbem-29336	219	10	.	.	PUNCT
fbem-29336	219	11	game	game	NOUN
fbem-29336	219	12	theory	theory	NOUN
fbem-29336	219	13	and	and	CCONJ
fbem-29336	219	14	information	information	NOUN
fbem-29336	219	15	economics	economic	NOUN
fbem-29336	219	16	.	.	PUNCT
fbem-29336	220	1	shanghai	shanghai	PROPN
fbem-29336	220	2	people	people	PROPN
fbem-29336	220	3	's	's	PART
fbem-29336	220	4	publishing	publishing	PROPN
fbem-29336	220	5	house	house	PROPN
fbem-29336	220	6	,	,	PUNCT
fbem-29336	220	7	shanghai	shanghai	PROPN
fbem-29336	220	8	.	.	PUNCT
fbem-29336	221	1	[	[	X
fbem-29336	221	2	12	12	NUM
fbem-29336	221	3	]	]	X
fbem-29336	221	4	liu	liu	PROPN
fbem-29336	221	5	jingyi	jingyi	PROPN
fbem-29336	221	6	,	,	PUNCT
fbem-29336	221	7	yang	yang	PROPN
fbem-29336	221	8	mei	mei	PROPN
fbem-29336	221	9	&	&	CCONJ
fbem-29336	221	10	guo	guo	PROPN
fbem-29336	221	11	jing	jing	PROPN
fbem-29336	221	12	.	.	PUNCT
fbem-29336	222	1	(	(	PUNCT
fbem-29336	222	2	2019	2019	NUM
fbem-29336	222	3	)	)	PUNCT
fbem-29336	222	4	.	.	PUNCT
fbem-29336	223	1	can	can	AUX
fbem-29336	223	2	supply	supply	VERB
fbem-29336	223	3	chain	chain	NOUN
fbem-29336	223	4	finance	finance	NOUN
fbem-29336	223	5	alleviate	alleviate	VERB
fbem-29336	223	6	the	the	DET
fbem-29336	223	7	financing	financing	NOUN
fbem-29336	223	8	constraints	constraint	NOUN
fbem-29336	223	9	of	of	ADP
fbem-29336	223	10	science	science	NOUN
fbem-29336	223	11	and	and	CCONJ
fbem-29336	223	12	technology	technology	NOUN
fbem-29336	223	13	-	-	PUNCT
fbem-29336	223	14	based	base	VERB
fbem-29336	223	15	small	small	ADJ
fbem-29336	223	16	and	and	CCONJ
fbem-29336	223	17	medium	medium	ADJ
fbem-29336	223	18	-	-	PUNCT
fbem-29336	223	19	sized	sized	ADJ
fbem-29336	223	20	enterprises	enterprise	NOUN
fbem-29336	223	21	(	(	PUNCT
fbem-29336	223	22	smes	sme	NOUN
fbem-29336	223	23	)	)	PUNCT
fbem-29336	223	24	?	?	PUNCT
fbem-29336	224	1	--based	--base	VERB
fbem-29336	224	2	on	on	ADP
fbem-29336	224	3	empirical	empirical	ADJ
fbem-29336	224	4	data	datum	NOUN
fbem-29336	224	5	of	of	ADP
fbem-29336	224	6	sme	sme	PROPN
fbem-29336	224	7	listed	list	VERB
fbem-29336	224	8	companies	company	NOUN
fbem-29336	224	9	.	.	PUNCT
fbem-29336	225	1	friends	friend	NOUN
fbem-29336	225	2	of	of	ADP
fbem-29336	225	3	accounting	accounting	NOUN
fbem-29336	225	4	(	(	PUNCT
fbem-29336	225	5	10	10	NUM
fbem-29336	225	6	)	)	PUNCT
fbem-29336	225	7	,	,	PUNCT
fbem-29336	225	8	116	116	NUM
fbem-29336	225	9	-	-	SYM
fbem-29336	225	10	121	121	NUM
fbem-29336	225	11	.	.	PUNCT
fbem-29336	226	1	[	[	X
fbem-29336	226	2	13	13	NUM
fbem-29336	226	3	]	]	X
fbem-29336	226	4	wang	wang	PROPN
fbem-29336	226	5	,	,	PUNCT
fbem-29336	226	6	x.	x.	PROPN
fbem-29336	226	7	,	,	PUNCT
fbem-29336	226	8	&	&	CCONJ
fbem-29336	226	9	liu	liu	PROPN
fbem-29336	226	10	,	,	PUNCT
fbem-29336	226	11	x.	x.	NOUN
fbem-29336	226	12	(	(	PUNCT
fbem-29336	226	13	2021	2021	NUM
fbem-29336	226	14	)	)	PUNCT
fbem-29336	226	15	.	.	PUNCT
fbem-29336	227	1	impact	impact	NOUN
fbem-29336	227	2	of	of	ADP
fbem-29336	227	3	financial	financial	ADJ
fbem-29336	227	4	technology	technology	NOUN
fbem-29336	227	5	on	on	ADP
fbem-29336	227	6	financing	financing	NOUN
fbem-29336	227	7	constraints	constraint	NOUN
fbem-29336	227	8	of	of	ADP
fbem-29336	227	9	small	small	ADJ
fbem-29336	227	10	and	and	CCONJ
fbem-29336	227	11	medium	medium	ADJ
fbem-29336	227	12	-	-	PUNCT
fbem-29336	227	13	sized	sized	ADJ
fbem-29336	227	14	enterprises	enterprise	NOUN
fbem-29336	227	15	.	.	PUNCT
fbem-29336	228	1	statistics	statistic	NOUN
fbem-29336	228	2	and	and	CCONJ
fbem-29336	228	3	decision	decision	NOUN
fbem-29336	228	4	making	making	NOUN
fbem-29336	228	5	(	(	PUNCT
fbem-29336	228	6	13	13	NUM
fbem-29336	228	7	)	)	PUNCT
fbem-29336	228	8	,	,	PUNCT
fbem-29336	228	9	151	151	NUM
fbem-29336	228	10	-	-	SYM
fbem-29336	228	11	154	154	NUM
fbem-29336	228	12	.	.	PUNCT
fbem-29336	229	1	[	[	X
fbem-29336	229	2	14	14	NUM
fbem-29336	229	3	]	]	X
fbem-29336	229	4	guo	guo	PROPN
fbem-29336	229	5	,	,	PUNCT
fbem-29336	229	6	x.	x.	NOUN
fbem-29336	229	7	(	(	PUNCT
fbem-29336	229	8	2014	2014	NUM
fbem-29336	229	9	)	)	PUNCT
fbem-29336	229	10	.	.	PUNCT
fbem-29336	230	1	research	research	NOUN
fbem-29336	230	2	on	on	ADP
fbem-29336	230	3	financing	financing	NOUN
fbem-29336	230	4	problems	problem	NOUN
fbem-29336	230	5	of	of	ADP
fbem-29336	230	6	small	small	ADJ
fbem-29336	230	7	and	and	CCONJ
fbem-29336	230	8	medium	medium	ADJ
fbem-29336	230	9	-	-	PUNCT
fbem-29336	230	10	sized	sized	ADJ
fbem-29336	230	11	science	science	NOUN
fbem-29336	230	12	and	and	CCONJ
fbem-29336	230	13	technology	technology	NOUN
fbem-29336	230	14	enterprises	enterprise	NOUN
fbem-29336	230	15	based	base	VERB
fbem-29336	230	16	on	on	ADP
fbem-29336	230	17	the	the	DET
fbem-29336	230	18	background	background	NOUN
fbem-29336	230	19	of	of	ADP
fbem-29336	230	20	internet	internet	NOUN
fbem-29336	230	21	finance	finance	NOUN
fbem-29336	230	22	.	.	PUNCT
fbem-29336	231	1	science	science	NOUN
fbem-29336	231	2	management	management	PROPN
fbem-29336	231	3	research	research	NOUN
fbem-29336	231	4	(	(	PUNCT
fbem-29336	231	5	02	02	NUM
fbem-29336	231	6	)	)	PUNCT
fbem-29336	231	7	,	,	PUNCT
fbem-29336	231	8	109	109	NUM
fbem-29336	231	9	-	-	SYM
fbem-29336	231	10	112	112	NUM
fbem-29336	231	11	.	.	PUNCT
fbem-29336	232	1	[	[	X
fbem-29336	232	2	15	15	NUM
fbem-29336	232	3	]	]	X
fbem-29336	232	4	lee	lee	PROPN
fbem-29336	232	5	,	,	PUNCT
fbem-29336	232	6	h.	h.	PROPN
fbem-29336	232	7	h.	h.	PROPN
fbem-29336	232	8	,	,	PUNCT
fbem-29336	232	9	yang	yang	PROPN
fbem-29336	232	10	,	,	PUNCT
fbem-29336	232	11	s.	s.	PROPN
fbem-29336	232	12	a.	a.	PROPN
fbem-29336	232	13	,	,	PUNCT
fbem-29336	232	14	&	&	CCONJ
fbem-29336	232	15	kim	kim	PROPN
fbem-29336	232	16	,	,	PUNCT
fbem-29336	232	17	k.	k.	PROPN
fbem-29336	232	18	(	(	PUNCT
fbem-29336	232	19	2019	2019	NUM
fbem-29336	232	20	)	)	PUNCT
fbem-29336	232	21	.	.	PUNCT
fbem-29336	233	1	the	the	DET
fbem-29336	233	2	role	role	NOUN
fbem-29336	233	3	of	of	ADP
fbem-29336	233	4	fintech	fintech	NOUN
fbem-29336	233	5	in	in	ADP
fbem-29336	233	6	mitigating	mitigate	VERB
fbem-29336	233	7	information	information	NOUN
fbem-29336	233	8	friction	friction	NOUN
fbem-29336	233	9	in	in	ADP
fbem-29336	233	10	supply	supply	NOUN
fbem-29336	233	11	chain	chain	NOUN
fbem-29336	233	12	finance	finance	NOUN
fbem-29336	233	13	.	.	PUNCT
fbem-29336	234	1	asian	asian	PROPN
fbem-29336	234	2	development	development	PROPN
fbem-29336	234	3	bank	bank	PROPN
fbem-29336	234	4	economics	economics	PROPN
fbem-29336	234	5	working	working	PROPN
fbem-29336	234	6	paper	paper	NOUN
fbem-29336	234	7	series	series	NOUN
fbem-29336	234	8	,	,	PUNCT
fbem-29336	234	9	(	(	PUNCT
fbem-29336	234	10	599	599	NUM
fbem-29336	234	11	)	)	PUNCT
fbem-29336	234	12	.	.	PUNCT
fbem-29336	235	1	[	[	X
fbem-29336	235	2	16	16	NUM
fbem-29336	235	3	]	]	X
fbem-29336	235	4	ma	ma	PROPN
fbem-29336	235	5	,	,	PUNCT
fbem-29336	235	6	l.	l.	PROPN
fbem-29336	235	7	,	,	PUNCT
fbem-29336	235	8	&	&	CCONJ
fbem-29336	235	9	you	you	PRON
fbem-29336	235	10	,	,	PUNCT
fbem-29336	235	11	h.	h.	PROPN
fbem-29336	235	12	(	(	PUNCT
fbem-29336	235	13	2021	2021	NUM
fbem-29336	235	14	)	)	PUNCT
fbem-29336	235	15	.	.	PUNCT
fbem-29336	236	1	science	science	NOUN
fbem-29336	236	2	and	and	CCONJ
fbem-29336	236	3	technology	technology	NOUN
fbem-29336	236	4	finance	finance	NOUN
fbem-29336	236	5	,	,	PUNCT
fbem-29336	236	6	information	information	NOUN
fbem-29336	236	7	asymmetry	asymmetry	NOUN
fbem-29336	236	8	and	and	CCONJ
fbem-29336	236	9	financing	financing	NOUN
fbem-29336	236	10	constraints	constraint	NOUN
fbem-29336	236	11	.	.	PUNCT
fbem-29336	237	1	monthly	monthly	ADJ
fbem-29336	237	2	journal	journal	NOUN
fbem-29336	237	3	of	of	ADP
fbem-29336	237	4	finance	finance	NOUN
fbem-29336	237	5	and	and	CCONJ
fbem-29336	237	6	accounting	accounting	NOUN
fbem-29336	237	7	(	(	PUNCT
fbem-29336	237	8	14	14	NUM
fbem-29336	237	9	)	)	PUNCT
fbem-29336	237	10	,	,	PUNCT
fbem-29336	237	11	56	56	NUM
fbem-29336	237	12	-	-	SYM
fbem-29336	237	13	63	63	NUM
fbem-29336	237	14	.	.	PUNCT
fbem-29336	238	1	[	[	X
fbem-29336	238	2	17	17	NUM
fbem-29336	238	3	]	]	X
fbem-29336	238	4	kaplan	kaplan	PROPN
fbem-29336	238	5	,	,	PUNCT
fbem-29336	238	6	s.	s.	PROPN
fbem-29336	238	7	n.	n.	PROPN
fbem-29336	238	8	,	,	PUNCT
fbem-29336	238	9	&	&	CCONJ
fbem-29336	238	10	zingales	zingales	PROPN
fbem-29336	238	11	,	,	PUNCT
fbem-29336	238	12	l.	l.	PROPN
fbem-29336	238	13	(	(	PUNCT
fbem-29336	238	14	1997	1997	NUM
fbem-29336	238	15	)	)	PUNCT
fbem-29336	238	16	.	.	PUNCT
fbem-29336	239	1	do	do	AUX
fbem-29336	239	2	investment	investment	NOUN
fbem-29336	239	3	-	-	PUNCT
fbem-29336	239	4	cash	cash	NOUN
fbem-29336	239	5	flow	flow	NOUN
fbem-29336	239	6	sensitivities	sensitivity	NOUN
fbem-29336	239	7	provide	provide	VERB
fbem-29336	239	8	useful	useful	ADJ
fbem-29336	239	9	measures	measure	NOUN
fbem-29336	239	10	of	of	ADP
fbem-29336	239	11	financing	financing	NOUN
fbem-29336	239	12	constraints	constraint	NOUN
fbem-29336	239	13	?	?	PUNCT
fbem-29336	240	1	the	the	DET
fbem-29336	240	2	quarterly	quarterly	ADJ
fbem-29336	240	3	journal	journal	NOUN
fbem-29336	240	4	of	of	ADP
fbem-29336	240	5	economics	economic	NOUN
fbem-29336	240	6	,	,	PUNCT
fbem-29336	240	7	112(1	112(1	NUM
fbem-29336	240	8	)	)	PUNCT
fbem-29336	240	9	,	,	PUNCT
fbem-29336	240	10	169	169	NUM
fbem-29336	240	11	-	-	SYM
fbem-29336	240	12	215	215	NUM
fbem-29336	240	13	.	.	PUNCT
fbem-29336	241	1	[	[	X
fbem-29336	241	2	18	18	NUM
fbem-29336	241	3	]	]	PUNCT
fbem-29336	241	4	whited	white	VERB
fbem-29336	241	5	,	,	PUNCT
fbem-29336	241	6	t.	t.	NOUN
fbem-29336	241	7	m.	m.	NOUN
fbem-29336	241	8	,	,	PUNCT
fbem-29336	241	9	&	&	CCONJ
fbem-29336	241	10	wu	wu	PROPN
fbem-29336	241	11	,	,	PUNCT
fbem-29336	241	12	g.	g.	PROPN
fbem-29336	241	13	(	(	PUNCT
fbem-29336	241	14	2006	2006	NUM
fbem-29336	241	15	)	)	PUNCT
fbem-29336	241	16	.	.	PUNCT
fbem-29336	242	1	financial	financial	ADJ
fbem-29336	242	2	constraints	constraint	NOUN
fbem-29336	242	3	risk	risk	NOUN
fbem-29336	242	4	.	.	PUNCT
fbem-29336	243	1	the	the	DET
fbem-29336	243	2	review	review	NOUN
fbem-29336	243	3	of	of	ADP
fbem-29336	243	4	financial	financial	ADJ
fbem-29336	243	5	studies	study	NOUN
fbem-29336	243	6	,	,	PUNCT
fbem-29336	243	7	19(2	19(2	NUM
fbem-29336	243	8	)	)	PUNCT
fbem-29336	243	9	,	,	PUNCT
fbem-29336	243	10	531	531	NUM
fbem-29336	243	11	-	-	SYM
fbem-29336	243	12	559	559	NUM
fbem-29336	243	13	.	.	PUNCT
fbem-29336	244	1	[	[	X
fbem-29336	244	2	19	19	NUM
fbem-29336	244	3	]	]	X
fbem-29336	244	4	hadlock	hadlock	NOUN
fbem-29336	244	5	,	,	PUNCT
fbem-29336	244	6	c.	c.	PROPN
fbem-29336	244	7	j.	j.	PROPN
fbem-29336	244	8	,	,	PUNCT
fbem-29336	244	9	&	&	CCONJ
fbem-29336	244	10	pierce	pierce	PROPN
fbem-29336	244	11	,	,	PUNCT
fbem-29336	244	12	j.	j.	PROPN
fbem-29336	244	13	r.	r.	PROPN
fbem-29336	244	14	(	(	PUNCT
fbem-29336	244	15	2010	2010	NUM
fbem-29336	244	16	)	)	PUNCT
fbem-29336	244	17	.	.	PUNCT
fbem-29336	245	1	new	new	ADJ
fbem-29336	245	2	evidence	evidence	NOUN
fbem-29336	245	3	on	on	ADP
fbem-29336	245	4	measuring	measure	VERB
fbem-29336	245	5	financial	financial	ADJ
fbem-29336	245	6	constraints	constraint	NOUN
fbem-29336	245	7	:	:	PUNCT
fbem-29336	245	8	moving	move	VERB
fbem-29336	245	9	beyond	beyond	ADP
fbem-29336	245	10	the	the	DET
fbem-29336	245	11	kz	kz	PROPN
fbem-29336	245	12	index	index	NOUN
fbem-29336	245	13	.	.	PUNCT
fbem-29336	246	1	the	the	DET
fbem-29336	246	2	review	review	NOUN
fbem-29336	246	3	of	of	ADP
fbem-29336	246	4	financial	financial	ADJ
fbem-29336	246	5	studies	study	NOUN
fbem-29336	246	6	,	,	PUNCT
fbem-29336	246	7	23(5	23(5	NUM
fbem-29336	246	8	)	)	PUNCT
fbem-29336	246	9	,	,	PUNCT
fbem-29336	246	10	1909	1909	NUM
fbem-29336	246	11	-	-	SYM
fbem-29336	246	12	1940	1940	NUM
fbem-29336	246	13	.	.	PUNCT
fbem-29336	247	1	[	[	X
fbem-29336	247	2	20	20	NUM
fbem-29336	247	3	]	]	SYM
fbem-29336	247	4	zhan	zhan	PROPN
fbem-29336	247	5	,	,	PUNCT
fbem-29336	247	6	lei	lei	PROPN
fbem-29336	247	7	&	&	CCONJ
fbem-29336	247	8	he	he	PRON
fbem-29336	247	9	,	,	PUNCT
fbem-29336	247	10	juan	juan	PROPN
fbem-29336	247	11	.	.	PUNCT
fbem-29336	248	1	(	(	PUNCT
fbem-29336	248	2	2013	2013	NUM
fbem-29336	248	3	)	)	PUNCT
fbem-29336	248	4	.	.	PUNCT
fbem-29336	249	1	financing	finance	VERB
fbem-29336	249	2	constraint	constraint	NOUN
fbem-29336	249	3	measure	measure	NOUN
fbem-29336	249	4	and	and	CCONJ
fbem-29336	249	5	its	its	PRON
fbem-29336	249	6	application	application	NOUN
fbem-29336	249	7	.	.	PUNCT
fbem-29336	250	1	finance	finance	NOUN
fbem-29336	250	2	&	&	CCONJ
fbem-29336	250	3	accounting	account	VERB
fbem-29336	250	4	monthly	monthly	ADJ
fbem-29336	250	5	(	(	PUNCT
fbem-29336	250	6	06	06	NUM
fbem-29336	250	7	)	)	PUNCT
fbem-29336	250	8	,	,	PUNCT
fbem-29336	250	9	104106	104106	NUM
fbem-29336	250	10	.	.	PUNCT
fbem-29336	251	1	[	[	X
fbem-29336	251	2	21	21	NUM
fbem-29336	251	3	]	]	X
fbem-29336	251	4	fong	fong	PROPN
fbem-29336	251	5	,	,	PUNCT
fbem-29336	251	6	x.	x.	PROPN
fbem-29336	251	7	w.	w.	PROPN
fbem-29336	251	8	,	,	PUNCT
fbem-29336	251	9	shi	shi	PROPN
fbem-29336	251	10	,	,	PUNCT
fbem-29336	251	11	z.	z.	PROPN
fbem-29336	251	12	y.	y.	PROPN
fbem-29336	251	13	&	&	CCONJ
fbem-29336	251	14	he	he	PRON
fbem-29336	251	15	,	,	PUNCT
fbem-29336	251	16	e.	e.	PROPN
fbem-29336	251	17	l.	l.	PROPN
fbem-29336	251	18	(	(	PUNCT
fbem-29336	251	19	2010	2010	NUM
fbem-29336	251	20	)	)	PUNCT
fbem-29336	251	21	.	.	PUNCT
fbem-29336	252	1	design	design	NOUN
fbem-29336	252	2	and	and	CCONJ
fbem-29336	252	3	evaluation	evaluation	NOUN
fbem-29336	252	4	of	of	ADP
fbem-29336	252	5	financing	financing	NOUN
fbem-29336	252	6	constraint	constraint	NOUN
fbem-29336	252	7	index	index	NOUN
fbem-29336	252	8	for	for	ADP
fbem-29336	252	9	chinese	chinese	ADJ
fbem-29336	252	10	listed	list	VERB
fbem-29336	252	11	companies	company	NOUN
fbem-29336	252	12	.	.	PUNCT
fbem-29336	253	1	journal	journal	PROPN
fbem-29336	253	2	of	of	ADP
fbem-29336	253	3	shanxi	shanxi	PROPN
fbem-29336	253	4	university	university	PROPN
fbem-29336	253	5	of	of	ADP
fbem-29336	253	6	finance	finance	NOUN
fbem-29336	253	7	and	and	CCONJ
fbem-29336	253	8	economics	economic	NOUN
fbem-29336	253	9	(	(	PUNCT
fbem-29336	253	10	05	05	NUM
fbem-29336	253	11	)	)	PUNCT
fbem-29336	253	12	,	,	PUNCT
fbem-29336	253	13	110	110	NUM
fbem-29336	253	14	-	-	SYM
fbem-29336	253	15	117	117	NUM
fbem-29336	253	16	.	.	PUNCT
fbem-29336	253	17	196	196	NUM
fbem-29336	254	1	[	[	X
fbem-29336	254	2	22	22	NUM
fbem-29336	254	3	]	]	PUNCT
fbem-29336	254	4	bhattacharya	bhattacharya	PROPN
fbem-29336	254	5	,	,	PUNCT
fbem-29336	254	6	u.	u.	PROPN
fbem-29336	254	7	,	,	PUNCT
fbem-29336	254	8	daouk	daouk	PROPN
fbem-29336	254	9	,	,	PUNCT
fbem-29336	254	10	h.	h.	PROPN
fbem-29336	254	11	,	,	PUNCT
fbem-29336	254	12	&	&	CCONJ
fbem-29336	254	13	welker	welker	PROPN
fbem-29336	254	14	,	,	PUNCT
fbem-29336	254	15	m.	m.	NOUN
fbem-29336	254	16	(	(	PUNCT
fbem-29336	254	17	2003	2003	NUM
fbem-29336	254	18	)	)	PUNCT
fbem-29336	254	19	.	.	PUNCT
fbem-29336	255	1	the	the	DET
fbem-29336	255	2	world	world	NOUN
fbem-29336	255	3	price	price	NOUN
fbem-29336	255	4	of	of	ADP
fbem-29336	255	5	earnings	earning	NOUN
fbem-29336	255	6	opacity	opacity	NOUN
fbem-29336	255	7	.	.	PUNCT
fbem-29336	256	1	the	the	DET
fbem-29336	256	2	accounting	accounting	NOUN
fbem-29336	256	3	review	review	NOUN
fbem-29336	256	4	,	,	PUNCT
fbem-29336	256	5	78(3	78(3	NOUN
fbem-29336	256	6	)	)	PUNCT
fbem-29336	256	7	,	,	PUNCT
fbem-29336	256	8	641678	641678	NUM
fbem-29336	256	9	.	.	PUNCT
fbem-29336	257	1	[	[	X
fbem-29336	257	2	23	23	NUM
fbem-29336	257	3	]	]	PUNCT
fbem-29336	257	4	you	you	PRON
fbem-29336	257	5	,	,	PUNCT
fbem-29336	257	6	jiaxing	jiaxing	PROPN
fbem-29336	257	7	&	&	CCONJ
fbem-29336	257	8	li	li	PROPN
fbem-29336	257	9	,	,	PUNCT
fbem-29336	257	10	bin	bin	PROPN
fbem-29336	257	11	.	.	PUNCT
fbem-29336	257	12	(	(	PUNCT
fbem-29336	257	13	2007	2007	NUM
fbem-29336	257	14	)	)	PUNCT
fbem-29336	257	15	.	.	PUNCT
fbem-29336	258	1	information	information	NOUN
fbem-29336	258	2	transparency	transparency	NOUN
fbem-29336	258	3	and	and	CCONJ
fbem-29336	258	4	corporate	corporate	ADJ
fbem-29336	258	5	governance	governance	NOUN
fbem-29336	258	6	efficiency	efficiency	NOUN
fbem-29336	258	7	empirical	empirical	ADJ
fbem-29336	258	8	evidence	evidence	NOUN
fbem-29336	258	9	from	from	ADP
fbem-29336	258	10	changes	change	NOUN
fbem-29336	258	11	in	in	ADP
fbem-29336	258	12	general	general	ADJ
fbem-29336	258	13	managers	manager	NOUN
fbem-29336	258	14	of	of	ADP
fbem-29336	258	15	chinese	chinese	ADJ
fbem-29336	258	16	listed	list	VERB
fbem-29336	258	17	companies	company	NOUN
fbem-29336	258	18	.	.	PUNCT
fbem-29336	259	1	nankai	nankai	PROPN
fbem-29336	259	2	management	management	PROPN
fbem-29336	259	3	review	review	PROPN
fbem-29336	259	4	(	(	PUNCT
fbem-29336	259	5	04	04	NUM
fbem-29336	259	6	)	)	PUNCT
fbem-29336	259	7	,	,	PUNCT
fbem-29336	259	8	73	73	NUM
fbem-29336	259	9	-	-	SYM
fbem-29336	259	10	79	79	NUM
fbem-29336	259	11	+	+	NOUN
fbem-29336	259	12	85	85	NUM
fbem-29336	259	13	.	.	PUNCT
fbem-29336	260	1	[	[	X
fbem-29336	260	2	24	24	NUM
fbem-29336	260	3	]	]	SYM
fbem-29336	260	4	almeida	almeida	PROPN
fbem-29336	260	5	,	,	PUNCT
fbem-29336	260	6	h.	h.	PROPN
fbem-29336	260	7	,	,	PUNCT
fbem-29336	260	8	campello	campello	PROPN
fbem-29336	260	9	,	,	PUNCT
fbem-29336	260	10	m.	m.	NOUN
fbem-29336	260	11	,	,	PUNCT
fbem-29336	260	12	&	&	CCONJ
fbem-29336	260	13	weisbach	weisbach	NOUN
fbem-29336	260	14	,	,	PUNCT
fbem-29336	260	15	m.	m.	NOUN
fbem-29336	260	16	s.	s.	PROPN
fbem-29336	260	17	(	(	PUNCT
fbem-29336	260	18	2004	2004	NUM
fbem-29336	260	19	)	)	PUNCT
fbem-29336	260	20	.	.	PUNCT
fbem-29336	261	1	the	the	DET
fbem-29336	261	2	cash	cash	NOUN
fbem-29336	261	3	flow	flow	NOUN
fbem-29336	261	4	sensitivity	sensitivity	NOUN
fbem-29336	261	5	of	of	ADP
fbem-29336	261	6	cash	cash	NOUN
fbem-29336	261	7	.	.	PUNCT
fbem-29336	262	1	the	the	DET
fbem-29336	262	2	journal	journal	PROPN
fbem-29336	262	3	of	of	ADP
fbem-29336	262	4	finance	finance	NOUN
fbem-29336	262	5	,	,	PUNCT
fbem-29336	262	6	59(4	59(4	NUM
fbem-29336	262	7	)	)	PUNCT
fbem-29336	262	8	,	,	PUNCT
fbem-29336	262	9	1777	1777	NUM
fbem-29336	262	10	-	-	SYM
fbem-29336	262	11	1804	1804	NUM
fbem-29336	262	12	.	.	PUNCT
fbem-29336	263	1	[	[	X
fbem-29336	263	2	25	25	NUM
fbem-29336	263	3	]	]	X
fbem-29336	263	4	yao	yao	PROPN
fbem-29336	263	5	,	,	PUNCT
fbem-29336	263	6	wangxin	wangxin	PROPN
fbem-29336	263	7	,	,	PUNCT
fbem-29336	263	8	juan	juan	PROPN
fbem-29336	263	9	xia	xia	PROPN
fbem-29336	263	10	&	&	CCONJ
fbem-29336	263	11	tingting	tingte	VERB
fbem-29336	263	12	sun	sun	PROPN
fbem-29336	263	13	.	.	PUNCT
fbem-29336	263	14	(	(	PUNCT
fbem-29336	263	15	2017	2017	NUM
fbem-29336	263	16	)	)	PUNCT
fbem-29336	263	17	.	.	PUNCT
fbem-29336	264	1	research	research	NOUN
fbem-29336	264	2	on	on	ADP
fbem-29336	264	3	financing	financing	NOUN
fbem-29336	264	4	constraints	constraint	NOUN
fbem-29336	264	5	of	of	ADP
fbem-29336	264	6	science	science	NOUN
fbem-29336	264	7	and	and	CCONJ
fbem-29336	264	8	technology	technology	NOUN
fbem-29336	264	9	-	-	PUNCT
fbem-29336	264	10	based	base	VERB
fbem-29336	264	11	small	small	ADJ
fbem-29336	264	12	and	and	CCONJ
fbem-29336	264	13	medium	medium	ADJ
fbem-29336	264	14	-	-	PUNCT
fbem-29336	264	15	sized	sized	ADJ
fbem-29336	264	16	enterprises	enterprise	NOUN
fbem-29336	264	17	and	and	CCONJ
fbem-29336	264	18	their	their	PRON
fbem-29336	264	19	mitigation	mitigation	NOUN
fbem-29336	264	20	under	under	ADP
fbem-29336	264	21	the	the	DET
fbem-29336	264	22	perspective	perspective	NOUN
fbem-29336	264	23	of	of	ADP
fbem-29336	264	24	supply	supply	NOUN
fbem-29336	264	25	chain	chain	NOUN
fbem-29336	264	26	finance	finance	NOUN
fbem-29336	264	27	.	.	PUNCT
fbem-29336	265	1	science	science	NOUN
fbem-29336	265	2	and	and	CCONJ
fbem-29336	265	3	technology	technology	NOUN
fbem-29336	265	4	progress	progress	NOUN
fbem-29336	265	5	and	and	CCONJ
fbem-29336	265	6	countermeasures	countermeasure	NOUN
fbem-29336	265	7	(	(	PUNCT
fbem-29336	265	8	04	04	NUM
fbem-29336	265	9	)	)	PUNCT
fbem-29336	265	10	,	,	PUNCT
fbem-29336	265	11	105	105	NUM
fbem-29336	265	12	-	-	SYM
fbem-29336	265	13	110	110	NUM
fbem-29336	265	14	.	.	PUNCT