id	sid	tid	token	lemma	pos
fbem-3108	1	1	frontiers	frontier	NOUN
fbem-3108	1	2	in	in	ADP
fbem-3108	1	3	business	business	NOUN
fbem-3108	1	4	,	,	PUNCT
fbem-3108	1	5	economics	economic	NOUN
fbem-3108	1	6	and	and	CCONJ
fbem-3108	1	7	management	management	NOUN
fbem-3108	1	8	issn	issn	PROPN
fbem-3108	1	9	:	:	PUNCT
fbem-3108	1	10	2766	2766	NUM
fbem-3108	1	11	-	-	PUNCT
fbem-3108	1	12	824x	824x	NUM
fbem-3108	1	13	|	|	ADJ
fbem-3108	1	14	vol	vol	NOUN
fbem-3108	1	15	.	.	PROPN
fbem-3108	2	1	6	6	NUM
fbem-3108	2	2	,	,	PUNCT
fbem-3108	2	3	no	no	INTJ
fbem-3108	2	4	.	.	NOUN
fbem-3108	2	5	3	3	NUM
fbem-3108	2	6	,	,	PUNCT
fbem-3108	2	7	2022	2022	NUM
fbem-3108	2	8	1	1	NUM
fbem-3108	2	9	green	green	ADJ
fbem-3108	2	10	bond	bond	NOUN
fbem-3108	2	11	issuance	issuance	NOUN
fbem-3108	2	12	and	and	CCONJ
fbem-3108	2	13	corporate	corporate	ADJ
fbem-3108	2	14	’s	’s	PART
fbem-3108	2	15	environmental	environmental	ADJ
fbem-3108	2	16	performance	performance	NOUN
fbem-3108	2	17	:	:	PUNCT
fbem-3108	2	18	evidence	evidence	NOUN
fbem-3108	2	19	from	from	ADP
fbem-3108	2	20	china	china	PROPN
fbem-3108	2	21	xia	xia	PROPN
fbem-3108	2	22	chen1	chen1	PROPN
fbem-3108	2	23	,	,	PUNCT
fbem-3108	2	24	md	md	PROPN
fbem-3108	2	25	.	.	PROPN
fbem-3108	2	26	atikur	atikur	PROPN
fbem-3108	2	27	rahaman2	rahaman2	PROPN
fbem-3108	2	28	1lecturer	1lecturer	NUM
fbem-3108	2	29	,	,	PUNCT
fbem-3108	2	30	school	school	NOUN
fbem-3108	2	31	of	of	ADP
fbem-3108	2	32	management	management	NOUN
fbem-3108	2	33	,	,	PUNCT
fbem-3108	2	34	jiujiang	jiujiang	PROPN
fbem-3108	2	35	university	university	PROPN
fbem-3108	2	36	,	,	PUNCT
fbem-3108	2	37	jiujiang	jiujiang	PROPN
fbem-3108	2	38	,	,	PUNCT
fbem-3108	2	39	china	china	PROPN
fbem-3108	2	40	2associate	2associate	NUM
fbem-3108	2	41	professor	professor	NOUN
fbem-3108	2	42	,	,	PUNCT
fbem-3108	2	43	school	school	NOUN
fbem-3108	2	44	of	of	ADP
fbem-3108	2	45	management	management	NOUN
fbem-3108	2	46	,	,	PUNCT
fbem-3108	2	47	jiujiang	jiujiang	PROPN
fbem-3108	2	48	university	university	PROPN
fbem-3108	2	49	,	,	PUNCT
fbem-3108	2	50	jiujiang	jiujiang	PROPN
fbem-3108	2	51	,	,	PUNCT
fbem-3108	2	52	china	china	PROPN
fbem-3108	2	53	abstract	abstract	PROPN
fbem-3108	2	54	:	:	PUNCT
fbem-3108	2	55	through	through	ADP
fbem-3108	2	56	a	a	DET
fbem-3108	2	57	comparative	comparative	ADJ
fbem-3108	2	58	study	study	NOUN
fbem-3108	2	59	of	of	ADP
fbem-3108	2	60	listed	list	VERB
fbem-3108	2	61	non	non	ADJ
fbem-3108	2	62	-	-	ADJ
fbem-3108	2	63	financial	financial	ADJ
fbem-3108	2	64	companies	company	NOUN
fbem-3108	2	65	in	in	ADP
fbem-3108	2	66	china	china	PROPN
fbem-3108	2	67	that	that	PRON
fbem-3108	2	68	issued	issue	VERB
fbem-3108	2	69	green	green	ADJ
fbem-3108	2	70	bonds	bond	NOUN
fbem-3108	2	71	and	and	CCONJ
fbem-3108	2	72	ordinary	ordinary	ADJ
fbem-3108	2	73	bonds	bond	NOUN
fbem-3108	2	74	between	between	ADP
fbem-3108	2	75	2016	2016	NUM
fbem-3108	2	76	and	and	CCONJ
fbem-3108	2	77	2021	2021	NUM
fbem-3108	2	78	,	,	PUNCT
fbem-3108	2	79	it	it	PRON
fbem-3108	2	80	was	be	AUX
fbem-3108	2	81	found	find	VERB
fbem-3108	2	82	that	that	SCONJ
fbem-3108	2	83	the	the	DET
fbem-3108	2	84	company	company	NOUN
fbem-3108	2	85	's	's	PART
fbem-3108	2	86	green	green	ADJ
fbem-3108	2	87	development	development	NOUN
fbem-3108	2	88	strategy	strategy	NOUN
fbem-3108	2	89	is	be	AUX
fbem-3108	2	90	an	an	DET
fbem-3108	2	91	important	important	ADJ
fbem-3108	2	92	factor	factor	NOUN
fbem-3108	2	93	in	in	ADP
fbem-3108	2	94	promoting	promote	VERB
fbem-3108	2	95	issuance	issuance	NOUN
fbem-3108	2	96	of	of	ADP
fbem-3108	2	97	green	green	ADJ
fbem-3108	2	98	bonds	bond	NOUN
fbem-3108	2	99	.	.	PUNCT
fbem-3108	3	1	in	in	ADP
fbem-3108	3	2	addition	addition	NOUN
fbem-3108	3	3	,	,	PUNCT
fbem-3108	3	4	public	public	ADJ
fbem-3108	3	5	companies	company	NOUN
fbem-3108	3	6	and	and	CCONJ
fbem-3108	3	7	companies	company	NOUN
fbem-3108	3	8	with	with	ADP
fbem-3108	3	9	low	low	ADJ
fbem-3108	3	10	asset	asset	NOUN
fbem-3108	3	11	-	-	PUNCT
fbem-3108	3	12	liability	liability	NOUN
fbem-3108	3	13	ratios	ratio	NOUN
fbem-3108	3	14	tend	tend	VERB
fbem-3108	3	15	to	to	PART
fbem-3108	3	16	issue	issue	VERB
fbem-3108	3	17	more	more	ADJ
fbem-3108	3	18	green	green	ADJ
fbem-3108	3	19	bonds	bond	NOUN
fbem-3108	3	20	.	.	PUNCT
fbem-3108	4	1	based	base	VERB
fbem-3108	4	2	on	on	ADP
fbem-3108	4	3	the	the	DET
fbem-3108	4	4	psm	psm	PROPN
fbem-3108	4	5	-	-	PUNCT
fbem-3108	4	6	did	did	ADJ
fbem-3108	4	7	model	model	NOUN
fbem-3108	4	8	,	,	PUNCT
fbem-3108	4	9	it	it	PRON
fbem-3108	4	10	was	be	AUX
fbem-3108	4	11	also	also	ADV
fbem-3108	4	12	found	find	VERB
fbem-3108	4	13	that	that	SCONJ
fbem-3108	4	14	the	the	DET
fbem-3108	4	15	green	green	ADJ
fbem-3108	4	16	bond	bond	NOUN
fbem-3108	4	17	can	can	AUX
fbem-3108	4	18	actually	actually	ADV
fbem-3108	4	19	improve	improve	VERB
fbem-3108	4	20	the	the	DET
fbem-3108	4	21	environmental	environmental	ADJ
fbem-3108	4	22	performance	performance	NOUN
fbem-3108	4	23	of	of	ADP
fbem-3108	4	24	the	the	DET
fbem-3108	4	25	company	company	NOUN
fbem-3108	4	26	after	after	ADP
fbem-3108	4	27	its	its	PRON
fbem-3108	4	28	issuance	issuance	NOUN
fbem-3108	4	29	,	,	PUNCT
fbem-3108	4	30	thus	thus	ADV
fbem-3108	4	31	confirming	confirm	VERB
fbem-3108	4	32	the	the	DET
fbem-3108	4	33	important	important	ADJ
fbem-3108	4	34	role	role	NOUN
fbem-3108	4	35	of	of	ADP
fbem-3108	4	36	the	the	DET
fbem-3108	4	37	company	company	NOUN
fbem-3108	4	38	's	's	PART
fbem-3108	4	39	green	green	ADJ
fbem-3108	4	40	development	development	NOUN
fbem-3108	4	41	strategy	strategy	NOUN
fbem-3108	4	42	in	in	ADP
fbem-3108	4	43	the	the	DET
fbem-3108	4	44	promoting	promote	VERB
fbem-3108	4	45	the	the	DET
fbem-3108	4	46	issuance	issuance	NOUN
fbem-3108	4	47	of	of	ADP
fbem-3108	4	48	green	green	ADJ
fbem-3108	4	49	bonds	bond	NOUN
fbem-3108	4	50	.	.	PUNCT
fbem-3108	5	1	finally	finally	ADV
fbem-3108	5	2	,	,	PUNCT
fbem-3108	5	3	policy	policy	NOUN
fbem-3108	5	4	recommendations	recommendation	NOUN
fbem-3108	5	5	are	be	AUX
fbem-3108	5	6	made	make	VERB
fbem-3108	5	7	to	to	PART
fbem-3108	5	8	encourage	encourage	VERB
fbem-3108	5	9	the	the	DET
fbem-3108	5	10	issuance	issuance	NOUN
fbem-3108	5	11	of	of	ADP
fbem-3108	5	12	green	green	ADJ
fbem-3108	5	13	bonds	bond	NOUN
fbem-3108	5	14	.	.	PUNCT
fbem-3108	6	1	keywords	keyword	NOUN
fbem-3108	6	2	:	:	PUNCT
fbem-3108	6	3	corporate	corporate	ADJ
fbem-3108	6	4	,	,	PUNCT
fbem-3108	6	5	green	green	ADJ
fbem-3108	6	6	bond	bond	NOUN
fbem-3108	6	7	,	,	PUNCT
fbem-3108	6	8	issuance	issuance	NOUN
fbem-3108	6	9	,	,	PUNCT
fbem-3108	6	10	green	green	ADJ
fbem-3108	6	11	development	development	NOUN
fbem-3108	6	12	strategy	strategy	NOUN
fbem-3108	6	13	,	,	PUNCT
fbem-3108	6	14	environmental	environmental	ADJ
fbem-3108	6	15	performance	performance	NOUN
fbem-3108	6	16	.	.	PUNCT
fbem-3108	7	1	1	1	X
fbem-3108	7	2	.	.	X
fbem-3108	7	3	introduction	introduction	NOUN
fbem-3108	7	4	since	since	SCONJ
fbem-3108	7	5	green	green	ADJ
fbem-3108	7	6	finance	finance	NOUN
fbem-3108	7	7	was	be	AUX
fbem-3108	7	8	first	first	ADV
fbem-3108	7	9	placed	place	VERB
fbem-3108	7	10	on	on	ADP
fbem-3108	7	11	the	the	DET
fbem-3108	7	12	agenda	agenda	NOUN
fbem-3108	7	13	of	of	ADP
fbem-3108	7	14	the	the	DET
fbem-3108	7	15	g20	g20	NOUN
fbem-3108	7	16	summit	summit	NOUN
fbem-3108	7	17	in	in	ADP
fbem-3108	7	18	2016	2016	NUM
fbem-3108	7	19	,	,	PUNCT
fbem-3108	7	20	china	china	PROPN
fbem-3108	7	21	's	's	PART
fbem-3108	7	22	green	green	ADJ
fbem-3108	7	23	bond	bond	NOUN
fbem-3108	7	24	market	market	NOUN
fbem-3108	7	25	has	have	AUX
fbem-3108	7	26	developed	develop	VERB
fbem-3108	7	27	rapidly	rapidly	ADV
fbem-3108	7	28	as	as	ADP
fbem-3108	7	29	a	a	DET
fbem-3108	7	30	tool	tool	NOUN
fbem-3108	7	31	to	to	PART
fbem-3108	7	32	serve	serve	VERB
fbem-3108	7	33	china	china	PROPN
fbem-3108	7	34	's	's	PART
fbem-3108	7	35	green	green	PROPN
fbem-3108	7	36	development	development	NOUN
fbem-3108	7	37	strategy	strategy	NOUN
fbem-3108	7	38	and	and	CCONJ
fbem-3108	7	39	transformation	transformation	NOUN
fbem-3108	7	40	and	and	CCONJ
fbem-3108	7	41	upgrade	upgrade	VERB
fbem-3108	7	42	company	company	NOUN
fbem-3108	7	43	green	green	PROPN
fbem-3108	7	44	’s	’s	PART
fbem-3108	7	45	aim	aim	NOUN
fbem-3108	7	46	.	.	PUNCT
fbem-3108	8	1	as	as	ADP
fbem-3108	8	2	a	a	DET
fbem-3108	8	3	new	new	ADJ
fbem-3108	8	4	type	type	NOUN
fbem-3108	8	5	of	of	ADP
fbem-3108	8	6	debt	debt	NOUN
fbem-3108	8	7	financing	financing	NOUN
fbem-3108	8	8	instrument	instrument	NOUN
fbem-3108	8	9	,	,	PUNCT
fbem-3108	8	10	green	green	ADJ
fbem-3108	8	11	bonds	bond	NOUN
fbem-3108	8	12	have	have	VERB
fbem-3108	8	13	significant	significant	ADJ
fbem-3108	8	14	green	green	ADJ
fbem-3108	8	15	label	label	NOUN
fbem-3108	8	16	characteristics	characteristic	NOUN
fbem-3108	8	17	compared	compare	VERB
fbem-3108	8	18	to	to	ADP
fbem-3108	8	19	traditional	traditional	ADJ
fbem-3108	8	20	bonds	bond	NOUN
fbem-3108	8	21	.	.	PUNCT
fbem-3108	9	1	however	however	ADV
fbem-3108	9	2	,	,	PUNCT
fbem-3108	9	3	the	the	DET
fbem-3108	9	4	literature	literature	NOUN
fbem-3108	9	5	conclusions	conclusion	NOUN
fbem-3108	9	6	are	be	AUX
fbem-3108	9	7	controversial	controversial	ADJ
fbem-3108	9	8	as	as	ADP
fbem-3108	9	9	to	to	ADP
fbem-3108	9	10	whether	whether	SCONJ
fbem-3108	9	11	the	the	DET
fbem-3108	9	12	funding	funding	NOUN
fbem-3108	9	13	cost	cost	NOUN
fbem-3108	9	14	of	of	ADP
fbem-3108	9	15	a	a	DET
fbem-3108	9	16	green	green	ADJ
fbem-3108	9	17	bond	bond	NOUN
fbem-3108	9	18	is	be	AUX
fbem-3108	9	19	more	more	ADV
fbem-3108	9	20	advantageous	advantageous	ADJ
fbem-3108	9	21	than	than	ADP
fbem-3108	9	22	that	that	PRON
fbem-3108	9	23	of	of	ADP
fbem-3108	9	24	ordinary	ordinary	ADJ
fbem-3108	9	25	bonds(sangiorgi	bonds(sangiorgi	PROPN
fbem-3108	9	26	and	and	CCONJ
fbem-3108	9	27	schopohl	schopohl	NOUN
fbem-3108	9	28	2021b	2021b	NUM
fbem-3108	9	29	;	;	PUNCT
fbem-3108	9	30	zhang	zhang	PROPN
fbem-3108	9	31	et	et	PROPN
fbem-3108	9	32	al	al	PROPN
fbem-3108	9	33	.	.	PROPN
fbem-3108	9	34	2021	2021	NUM
fbem-3108	9	35	)	)	PUNCT
fbem-3108	9	36	.	.	PUNCT
fbem-3108	10	1	what	what	PRON
fbem-3108	10	2	attracts	attract	VERB
fbem-3108	10	3	companies	company	NOUN
fbem-3108	10	4	to	to	PART
fbem-3108	10	5	issue	issue	VERB
fbem-3108	10	6	green	green	ADJ
fbem-3108	10	7	bonds	bond	NOUN
fbem-3108	10	8	and	and	CCONJ
fbem-3108	10	9	the	the	DET
fbem-3108	10	10	individual	individual	ADJ
fbem-3108	10	11	characteristics	characteristic	NOUN
fbem-3108	10	12	of	of	ADP
fbem-3108	10	13	the	the	DET
fbem-3108	10	14	green	green	PROPN
fbem-3108	10	15	bond	bond	PROPN
fbem-3108	10	16	issuer	issuer	NOUN
fbem-3108	10	17	are	be	AUX
fbem-3108	10	18	stimulating	stimulate	VERB
fbem-3108	10	19	topics	topic	NOUN
fbem-3108	10	20	in	in	ADP
fbem-3108	10	21	academia	academia	NOUN
fbem-3108	10	22	.	.	PUNCT
fbem-3108	11	1	therefore	therefore	ADV
fbem-3108	11	2	,	,	PUNCT
fbem-3108	11	3	this	this	DET
fbem-3108	11	4	paper	paper	NOUN
fbem-3108	11	5	analyzes	analyze	VERB
fbem-3108	11	6	the	the	DET
fbem-3108	11	7	individual	individual	ADJ
fbem-3108	11	8	characteristics	characteristic	NOUN
fbem-3108	11	9	,	,	PUNCT
fbem-3108	11	10	motivations	motivation	NOUN
fbem-3108	11	11	and	and	CCONJ
fbem-3108	11	12	environmental	environmental	ADJ
fbem-3108	11	13	performance	performance	NOUN
fbem-3108	11	14	impacts	impact	NOUN
fbem-3108	11	15	of	of	ADP
fbem-3108	11	16	corporate	corporate	ADJ
fbem-3108	11	17	green	green	ADJ
fbem-3108	11	18	bond	bond	NOUN
fbem-3108	11	19	issuance	issuance	NOUN
fbem-3108	11	20	and	and	CCONJ
fbem-3108	11	21	examines	examine	VERB
fbem-3108	11	22	the	the	DET
fbem-3108	11	23	issuance	issuance	NOUN
fbem-3108	11	24	mechanism	mechanism	NOUN
fbem-3108	11	25	.	.	PUNCT
fbem-3108	12	1	2	2	X
fbem-3108	12	2	.	.	X
fbem-3108	12	3	current	current	ADJ
fbem-3108	12	4	status	status	NOUN
fbem-3108	12	5	of	of	ADP
fbem-3108	12	6	corporate	corporate	ADJ
fbem-3108	12	7	’s	’s	PART
fbem-3108	12	8	green	green	ADJ
fbem-3108	12	9	bond	bond	NOUN
fbem-3108	12	10	issuance	issuance	NOUN
fbem-3108	12	11	in	in	ADP
fbem-3108	12	12	china	china	PROPN
fbem-3108	12	13	in	in	ADP
fbem-3108	12	14	2015	2015	NUM
fbem-3108	12	15	,	,	PUNCT
fbem-3108	12	16	the	the	DET
fbem-3108	12	17	people	people	NOUN
fbem-3108	12	18	's	's	PART
fbem-3108	12	19	bank	bank	PROPN
fbem-3108	12	20	of	of	ADP
fbem-3108	12	21	china	china	PROPN
fbem-3108	12	22	issued	issue	VERB
fbem-3108	12	23	the	the	DET
fbem-3108	12	24	"	"	PUNCT
fbem-3108	12	25	catalogue	catalogue	NOUN
fbem-3108	12	26	of	of	ADP
fbem-3108	12	27	green	green	ADJ
fbem-3108	12	28	bond	bond	NOUN
fbem-3108	12	29	support	support	NOUN
fbem-3108	12	30	projects	project	NOUN
fbem-3108	12	31	(	(	PUNCT
fbem-3108	12	32	2015	2015	NUM
fbem-3108	12	33	edition	edition	NOUN
fbem-3108	12	34	)	)	PUNCT
fbem-3108	12	35	"	"	PUNCT
fbem-3108	12	36	and	and	CCONJ
fbem-3108	12	37	activated	activate	VERB
fbem-3108	12	38	china	china	PROPN
fbem-3108	12	39	's	's	PART
fbem-3108	12	40	green	green	ADJ
fbem-3108	12	41	bond	bond	NOUN
fbem-3108	12	42	market	market	NOUN
fbem-3108	12	43	at	at	ADP
fbem-3108	12	44	the	the	DET
fbem-3108	12	45	institutional	institutional	ADJ
fbem-3108	12	46	level	level	NOUN
fbem-3108	12	47	.	.	PUNCT
fbem-3108	13	1	in	in	ADP
fbem-3108	13	2	the	the	DET
fbem-3108	13	3	same	same	ADJ
fbem-3108	13	4	year	year	NOUN
fbem-3108	13	5	,	,	PUNCT
fbem-3108	13	6	the	the	DET
fbem-3108	13	7	national	national	ADJ
fbem-3108	13	8	development	development	PROPN
fbem-3108	13	9	and	and	CCONJ
fbem-3108	13	10	reform	reform	PROPN
fbem-3108	13	11	commission	commission	PROPN
fbem-3108	13	12	of	of	ADP
fbem-3108	13	13	china	china	PROPN
fbem-3108	13	14	also	also	ADV
fbem-3108	13	15	released	release	VERB
fbem-3108	13	16	the	the	DET
fbem-3108	13	17	"	"	PUNCT
fbem-3108	13	18	green	green	ADJ
fbem-3108	13	19	bond	bond	NOUN
fbem-3108	13	20	issuance	issuance	NOUN
fbem-3108	13	21	guidelines	guideline	NOUN
fbem-3108	13	22	"	"	PUNCT
fbem-3108	13	23	.	.	PUNCT
fbem-3108	14	1	the	the	DET
fbem-3108	14	2	main	main	ADJ
fbem-3108	14	3	views	view	NOUN
fbem-3108	14	4	on	on	ADP
fbem-3108	14	5	supporting	support	VERB
fbem-3108	14	6	the	the	DET
fbem-3108	14	7	development	development	NOUN
fbem-3108	14	8	of	of	ADP
fbem-3108	14	9	green	green	ADJ
fbem-3108	14	10	bonds	bond	NOUN
fbem-3108	14	11	have	have	AUX
fbem-3108	14	12	formed	form	VERB
fbem-3108	14	13	a	a	DET
fbem-3108	14	14	model	model	NOUN
fbem-3108	14	15	of	of	ADP
fbem-3108	14	16	three	three	NUM
fbem-3108	14	17	responsible	responsible	ADJ
fbem-3108	14	18	departments	department	NOUN
fbem-3108	14	19	of	of	ADP
fbem-3108	14	20	the	the	DET
fbem-3108	14	21	people	people	NOUN
fbem-3108	14	22	's	's	PART
fbem-3108	14	23	bank	bank	PROPN
fbem-3108	14	24	of	of	ADP
fbem-3108	14	25	china	china	PROPN
fbem-3108	14	26	,	,	PUNCT
fbem-3108	14	27	the	the	DET
fbem-3108	14	28	national	national	PROPN
fbem-3108	14	29	development	development	PROPN
fbem-3108	14	30	and	and	CCONJ
fbem-3108	14	31	reform	reform	NOUN
fbem-3108	14	32	commission	commission	PROPN
fbem-3108	14	33	and	and	CCONJ
fbem-3108	14	34	the	the	DET
fbem-3108	14	35	china	china	PROPN
fbem-3108	14	36	securities	securities	PROPN
fbem-3108	14	37	regulatory	regulatory	PROPN
fbem-3108	14	38	commission	commission	PROPN
fbem-3108	14	39	.	.	PUNCT
fbem-3108	15	1	by	by	ADP
fbem-3108	15	2	2021	2021	NUM
fbem-3108	15	3	,	,	PUNCT
fbem-3108	15	4	the	the	DET
fbem-3108	15	5	people	people	NOUN
fbem-3108	15	6	's	's	PART
fbem-3108	15	7	bank	bank	PROPN
fbem-3108	15	8	of	of	ADP
fbem-3108	15	9	china	china	PROPN
fbem-3108	15	10	,	,	PUNCT
fbem-3108	15	11	the	the	DET
fbem-3108	15	12	national	national	PROPN
fbem-3108	15	13	development	development	PROPN
fbem-3108	15	14	and	and	CCONJ
fbem-3108	15	15	reform	reform	NOUN
fbem-3108	15	16	commission	commission	PROPN
fbem-3108	15	17	and	and	CCONJ
fbem-3108	15	18	the	the	DET
fbem-3108	15	19	china	china	PROPN
fbem-3108	15	20	securities	securities	PROPN
fbem-3108	15	21	regulatory	regulatory	PROPN
fbem-3108	15	22	commission	commission	NOUN
fbem-3108	15	23	will	will	AUX
fbem-3108	15	24	jointly	jointly	ADV
fbem-3108	15	25	publish	publish	VERB
fbem-3108	15	26	the	the	DET
fbem-3108	15	27	"	"	PUNCT
fbem-3108	15	28	green	green	ADJ
fbem-3108	15	29	bond	bond	NOUN
fbem-3108	15	30	support	support	NOUN
fbem-3108	15	31	project	project	NOUN
fbem-3108	15	32	catalog	catalog	NOUN
fbem-3108	15	33	(	(	PUNCT
fbem-3108	15	34	2021	2021	NUM
fbem-3108	15	35	edition	edition	NOUN
fbem-3108	15	36	)	)	PUNCT
fbem-3108	15	37	"	"	PUNCT
fbem-3108	15	38	,	,	PUNCT
fbem-3108	15	39	which	which	PRON
fbem-3108	15	40	has	have	AUX
fbem-3108	15	41	formed	form	VERB
fbem-3108	15	42	a	a	DET
fbem-3108	15	43	unified	unified	ADJ
fbem-3108	15	44	national	national	ADJ
fbem-3108	15	45	regulatory	regulatory	ADJ
fbem-3108	15	46	document	document	NOUN
fbem-3108	15	47	.	.	PUNCT
fbem-3108	16	1	the	the	DET
fbem-3108	16	2	green	green	ADJ
fbem-3108	16	3	bond	bond	NOUN
fbem-3108	16	4	support	support	NOUN
fbem-3108	16	5	projects	project	NOUN
fbem-3108	16	6	are	be	AUX
fbem-3108	16	7	in	in	ADP
fbem-3108	16	8	the	the	DET
fbem-3108	16	9	energy	energy	NOUN
fbem-3108	16	10	saving	saving	NOUN
fbem-3108	16	11	and	and	CCONJ
fbem-3108	16	12	environmental	environmental	ADJ
fbem-3108	16	13	protection	protection	NOUN
fbem-3108	16	14	industries	industry	NOUN
fbem-3108	16	15	.	.	PUNCT
fbem-3108	17	1	in	in	ADP
fbem-3108	17	2	the	the	DET
fbem-3108	17	3	six	six	NUM
fbem-3108	17	4	areas	area	NOUN
fbem-3108	17	5	of	of	ADP
fbem-3108	17	6	clean	clean	ADJ
fbem-3108	17	7	manufacturing	manufacturing	NOUN
fbem-3108	17	8	,	,	PUNCT
fbem-3108	17	9	clean	clean	ADJ
fbem-3108	17	10	energy	energy	NOUN
fbem-3108	17	11	,	,	PUNCT
fbem-3108	17	12	green	green	ADJ
fbem-3108	17	13	environment	environment	NOUN
fbem-3108	17	14	,	,	PUNCT
fbem-3108	17	15	green	green	ADJ
fbem-3108	17	16	infrastructure	infrastructure	NOUN
fbem-3108	17	17	improvement	improvement	NOUN
fbem-3108	17	18	and	and	CCONJ
fbem-3108	17	19	green	green	ADJ
fbem-3108	17	20	services	service	NOUN
fbem-3108	17	21	,	,	PUNCT
fbem-3108	17	22	clean	clean	ADJ
fbem-3108	17	23	use	use	NOUN
fbem-3108	17	24	of	of	ADP
fbem-3108	17	25	coal	coal	NOUN
fbem-3108	17	26	and	and	CCONJ
fbem-3108	17	27	other	other	ADJ
fbem-3108	17	28	fossil	fossil	NOUN
fbem-3108	17	29	energies	energy	NOUN
fbem-3108	17	30	have	have	AUX
fbem-3108	17	31	been	be	AUX
fbem-3108	17	32	removed	remove	VERB
fbem-3108	17	33	from	from	ADP
fbem-3108	17	34	the	the	DET
fbem-3108	17	35	green	green	ADJ
fbem-3108	17	36	bond	bond	PROPN
fbem-3108	17	37	backing	backing	NOUN
fbem-3108	17	38	area	area	NOUN
fbem-3108	17	39	to	to	PART
fbem-3108	17	40	achieve	achieve	VERB
fbem-3108	17	41	consistency	consistency	NOUN
fbem-3108	17	42	with	with	ADP
fbem-3108	17	43	standards	standard	NOUN
fbem-3108	17	44	international	international	ADJ
fbem-3108	17	45	municipalities	municipality	NOUN
fbem-3108	17	46	.	.	PUNCT
fbem-3108	18	1	according	accord	VERB
fbem-3108	18	2	to	to	ADP
fbem-3108	18	3	data	datum	NOUN
fbem-3108	18	4	from	from	ADP
fbem-3108	18	5	the	the	DET
fbem-3108	18	6	climate	climate	NOUN
fbem-3108	18	7	bonds	bond	NOUN
fbem-3108	18	8	initiative	initiative	NOUN
fbem-3108	18	9	and	and	CCONJ
fbem-3108	18	10	the	the	DET
fbem-3108	18	11	china	china	PROPN
fbem-3108	18	12	bond	bond	PROPN
fbem-3108	18	13	r&d	r&d	PROPN
fbem-3108	18	14	center	center	NOUN
fbem-3108	18	15	of	of	ADP
fbem-3108	18	16	china	china	PROPN
fbem-3108	18	17	central	central	PROPN
fbem-3108	18	18	depository	depository	NOUN
fbem-3108	18	19	and	and	CCONJ
fbem-3108	18	20	clearing	clearing	PROPN
fbem-3108	18	21	co.	co.	PROPN
fbem-3108	18	22	,	,	PUNCT
fbem-3108	18	23	ltd	ltd	PROPN
fbem-3108	18	24	,	,	PUNCT
fbem-3108	18	25	china	china	PROPN
fbem-3108	18	26	has	have	AUX
fbem-3108	18	27	issued	issue	VERB
fbem-3108	18	28	a	a	DET
fbem-3108	18	29	total	total	NOUN
fbem-3108	18	30	of	of	ADP
fbem-3108	18	31	$	$	SYM
fbem-3108	18	32	327	327	NUM
fbem-3108	18	33	billion	billion	NUM
fbem-3108	18	34	in	in	ADP
fbem-3108	18	35	green	green	ADJ
fbem-3108	18	36	bonds	bond	NOUN
fbem-3108	18	37	through	through	ADP
fbem-3108	18	38	2021	2021	NUM
fbem-3108	18	39	,	,	PUNCT
fbem-3108	18	40	of	of	ADP
fbem-3108	18	41	which	which	PRON
fbem-3108	18	42	nearly	nearly	ADV
fbem-3108	18	43	$	$	SYM
fbem-3108	18	44	200	200	NUM
fbem-3108	18	45	billion	billion	NUM
fbem-3108	18	46	will	will	AUX
fbem-3108	18	47	meet	meet	VERB
fbem-3108	18	48	the	the	DET
fbem-3108	18	49	cbi	cbi	NOUN
fbem-3108	18	50	's	's	PART
fbem-3108	18	51	green	green	ADJ
fbem-3108	18	52	bond	bond	NOUN
fbem-3108	18	53	standard	standard	NOUN
fbem-3108	18	54	.	.	PUNCT
fbem-3108	19	1	china	china	PROPN
fbem-3108	19	2	has	have	AUX
fbem-3108	19	3	become	become	VERB
fbem-3108	19	4	the	the	DET
fbem-3108	19	5	second	second	ADV
fbem-3108	19	6	largest	large	ADJ
fbem-3108	19	7	green	green	ADJ
fbem-3108	19	8	bond	bond	NOUN
fbem-3108	19	9	market	market	NOUN
fbem-3108	19	10	in	in	ADP
fbem-3108	19	11	the	the	DET
fbem-3108	19	12	world	world	NOUN
fbem-3108	19	13	.	.	PUNCT
fbem-3108	20	1	in	in	ADP
fbem-3108	20	2	addition	addition	NOUN
fbem-3108	20	3	,	,	PUNCT
fbem-3108	20	4	china	china	PROPN
fbem-3108	20	5	's	's	PART
fbem-3108	20	6	green	green	ADJ
fbem-3108	20	7	bonds	bond	NOUN
fbem-3108	20	8	also	also	ADV
fbem-3108	20	9	have	have	VERB
fbem-3108	20	10	the	the	DET
fbem-3108	20	11	following	follow	VERB
fbem-3108	20	12	characteristics	characteristic	NOUN
fbem-3108	20	13	:	:	PUNCT
fbem-3108	20	14	(	(	PUNCT
fbem-3108	20	15	1	1	X
fbem-3108	20	16	)	)	PUNCT
fbem-3108	20	17	in	in	ADP
fbem-3108	20	18	addition	addition	NOUN
fbem-3108	20	19	to	to	ADP
fbem-3108	20	20	financial	financial	ADJ
fbem-3108	20	21	institutions	institution	NOUN
fbem-3108	20	22	,	,	PUNCT
fbem-3108	20	23	non	non	ADJ
fbem-3108	20	24	-	-	ADJ
fbem-3108	20	25	financial	financial	ADJ
fbem-3108	20	26	institutions	institution	NOUN
fbem-3108	20	27	are	be	AUX
fbem-3108	20	28	becoming	become	VERB
fbem-3108	20	29	increasingly	increasingly	ADV
fbem-3108	20	30	active	active	ADJ
fbem-3108	20	31	in	in	ADP
fbem-3108	20	32	issuing	issue	VERB
fbem-3108	20	33	green	green	ADJ
fbem-3108	20	34	bonds	bond	NOUN
fbem-3108	20	35	as	as	ADP
fbem-3108	20	36	the	the	DET
fbem-3108	20	37	main	main	ADJ
fbem-3108	20	38	institution	institution	NOUN
fbem-3108	20	39	,	,	PUNCT
fbem-3108	20	40	accounting	account	VERB
fbem-3108	20	41	for	for	ADP
fbem-3108	20	42	nearly	nearly	ADV
fbem-3108	20	43	half	half	NOUN
fbem-3108	20	44	of	of	ADP
fbem-3108	20	45	the	the	DET
fbem-3108	20	46	issue	issue	NOUN
fbem-3108	20	47	volume	volume	NOUN
fbem-3108	20	48	;	;	PUNCT
fbem-3108	20	49	(	(	PUNCT
fbem-3108	20	50	2	2	X
fbem-3108	20	51	)	)	PUNCT
fbem-3108	20	52	green	green	ADJ
fbem-3108	20	53	bond	bond	NOUN
fbem-3108	20	54	issuers	issuer	NOUN
fbem-3108	20	55	are	be	AUX
fbem-3108	20	56	mainly	mainly	ADV
fbem-3108	20	57	composed	compose	VERB
fbem-3108	20	58	of	of	ADP
fbem-3108	20	59	public	public	ADJ
fbem-3108	20	60	companies	company	NOUN
fbem-3108	20	61	;	;	PUNCT
fbem-3108	20	62	(	(	PUNCT
fbem-3108	20	63	3	3	X
fbem-3108	20	64	)	)	PUNCT
fbem-3108	20	65	nearly	nearly	ADV
fbem-3108	20	66	90	90	NUM
fbem-3108	20	67	%	%	NOUN
fbem-3108	20	68	of	of	ADP
fbem-3108	20	69	the	the	DET
fbem-3108	20	70	funds	fund	NOUN
fbem-3108	20	71	raised	raise	VERB
fbem-3108	20	72	via	via	ADP
fbem-3108	20	73	green	green	ADJ
fbem-3108	20	74	bonds	bond	NOUN
fbem-3108	20	75	are	be	AUX
fbem-3108	20	76	used	use	VERB
fbem-3108	20	77	for	for	ADP
fbem-3108	20	78	renewable	renewable	ADJ
fbem-3108	20	79	energy	energy	NOUN
fbem-3108	20	80	,	,	PUNCT
fbem-3108	20	81	low	low	ADJ
fbem-3108	20	82	-	-	PUNCT
fbem-3108	20	83	carbon	carbon	NOUN
fbem-3108	20	84	transport	transport	NOUN
fbem-3108	20	85	and	and	CCONJ
fbem-3108	20	86	low	low	ADJ
fbem-3108	20	87	-	-	PUNCT
fbem-3108	20	88	carbon	carbon	NOUN
fbem-3108	20	89	buildings	building	NOUN
fbem-3108	20	90	;	;	PUNCT
fbem-3108	20	91	(	(	PUNCT
fbem-3108	20	92	4	4	X
fbem-3108	20	93	)	)	PUNCT
fbem-3108	20	94	green	green	ADJ
fbem-3108	20	95	bond	bond	NOUN
fbem-3108	20	96	issuers	issuer	NOUN
fbem-3108	20	97	are	be	AUX
fbem-3108	20	98	mainly	mainly	ADV
fbem-3108	20	99	active	active	ADJ
fbem-3108	20	100	in	in	ADP
fbem-3108	20	101	sectors	sector	NOUN
fbem-3108	20	102	such	such	ADJ
fbem-3108	20	103	as	as	ADP
fbem-3108	20	104	utilities	utility	NOUN
fbem-3108	20	105	,	,	PUNCT
fbem-3108	20	106	finance	finance	NOUN
fbem-3108	20	107	and	and	CCONJ
fbem-3108	20	108	manufacturing(climate	manufacturing(climate	NOUN
fbem-3108	20	109	bonds	bond	NOUN
fbem-3108	20	110	initiative	initiative	NOUN
fbem-3108	20	111	and	and	CCONJ
fbem-3108	20	112	the	the	DET
fbem-3108	20	113	china	china	PROPN
fbem-3108	20	114	bond	bond	PROPN
fbem-3108	20	115	r&d	r&d	PROPN
fbem-3108	20	116	center	center	NOUN
fbem-3108	20	117	of	of	ADP
fbem-3108	20	118	china	china	PROPN
fbem-3108	20	119	central	central	PROPN
fbem-3108	20	120	depository	depository	NOUN
fbem-3108	20	121	and	and	CCONJ
fbem-3108	20	122	clearing	clearing	PROPN
fbem-3108	20	123	co.	co.	PROPN
fbem-3108	20	124	,	,	PUNCT
fbem-3108	20	125	ltd	ltd	PROPN
fbem-3108	20	126	2022	2022	NUM
fbem-3108	20	127	)	)	PUNCT
fbem-3108	20	128	.	.	PUNCT
fbem-3108	21	1	3	3	X
fbem-3108	21	2	.	.	X
fbem-3108	21	3	theoretical	theoretical	ADJ
fbem-3108	21	4	analysis	analysis	NOUN
fbem-3108	21	5	and	and	CCONJ
fbem-3108	21	6	research	research	NOUN
fbem-3108	21	7	hypothesis	hypothesis	NOUN
fbem-3108	21	8	with	with	ADP
fbem-3108	21	9	the	the	DET
fbem-3108	21	10	emphasis	emphasis	NOUN
fbem-3108	21	11	on	on	ADP
fbem-3108	21	12	environmental	environmental	ADJ
fbem-3108	21	13	issues	issue	NOUN
fbem-3108	21	14	in	in	ADP
fbem-3108	21	15	various	various	ADJ
fbem-3108	21	16	countries	country	NOUN
fbem-3108	21	17	and	and	CCONJ
fbem-3108	21	18	the	the	DET
fbem-3108	21	19	implementation	implementation	NOUN
fbem-3108	21	20	of	of	ADP
fbem-3108	21	21	the	the	DET
fbem-3108	21	22	concept	concept	NOUN
fbem-3108	21	23	of	of	ADP
fbem-3108	21	24	corporate	corporate	ADJ
fbem-3108	21	25	social	social	ADJ
fbem-3108	21	26	responsibility	responsibility	NOUN
fbem-3108	21	27	,	,	PUNCT
fbem-3108	21	28	environmental	environmental	ADJ
fbem-3108	21	29	responsibility	responsibility	NOUN
fbem-3108	21	30	has	have	AUX
fbem-3108	21	31	become	become	VERB
fbem-3108	21	32	an	an	DET
fbem-3108	21	33	important	important	ADJ
fbem-3108	21	34	requirement	requirement	NOUN
fbem-3108	21	35	for	for	ADP
fbem-3108	21	36	traditional	traditional	ADJ
fbem-3108	21	37	institutional	institutional	ADJ
fbem-3108	21	38	investors	investor	NOUN
fbem-3108	21	39	for	for	ADP
fbem-3108	21	40	investment	investment	NOUN
fbem-3108	21	41	purposes(sparkes	purposes(sparke	NOUN
fbem-3108	21	42	and	and	CCONJ
fbem-3108	21	43	cowton	cowton	PROPN
fbem-3108	21	44	2004	2004	NUM
fbem-3108	21	45	)	)	PUNCT
fbem-3108	21	46	,	,	PUNCT
fbem-3108	21	47	companies	company	NOUN
fbem-3108	21	48	in	in	ADP
fbem-3108	21	49	the	the	DET
fbem-3108	21	50	field	field	NOUN
fbem-3108	21	51	of	of	ADP
fbem-3108	21	52	environmental	environmental	ADJ
fbem-3108	21	53	performance	performance	NOUN
fbem-3108	21	54	or	or	CCONJ
fbem-3108	21	55	green	green	ADJ
fbem-3108	21	56	development	development	NOUN
fbem-3108	21	57	.	.	PUNCT
fbem-3108	22	1	differences	difference	NOUN
fbem-3108	22	2	in	in	ADP
fbem-3108	22	3	strategy	strategy	NOUN
fbem-3108	22	4	to	to	PART
fbem-3108	22	5	reduce	reduce	VERB
fbem-3108	22	6	investment	investment	NOUN
fbem-3108	22	7	risk	risk	NOUN
fbem-3108	22	8	.	.	PUNCT
fbem-3108	23	1	however	however	ADV
fbem-3108	23	2	,	,	PUNCT
fbem-3108	23	3	corporate	corporate	ADJ
fbem-3108	23	4	-	-	PUNCT
fbem-3108	23	5	level	level	NOUN
fbem-3108	23	6	environmental	environmental	ADJ
fbem-3108	23	7	governance	governance	NOUN
fbem-3108	23	8	information	information	NOUN
fbem-3108	23	9	is	be	AUX
fbem-3108	23	10	diversified	diversified	ADJ
fbem-3108	23	11	and	and	CCONJ
fbem-3108	23	12	complex	complex	ADJ
fbem-3108	23	13	,	,	PUNCT
fbem-3108	23	14	and	and	CCONJ
fbem-3108	23	15	investors	investor	NOUN
fbem-3108	23	16	usually	usually	ADV
fbem-3108	23	17	do	do	AUX
fbem-3108	23	18	not	not	PART
fbem-3108	23	19	have	have	VERB
fbem-3108	23	20	sufficient	sufficient	ADJ
fbem-3108	23	21	sources	source	NOUN
fbem-3108	23	22	of	of	ADP
fbem-3108	23	23	information	information	NOUN
fbem-3108	23	24	to	to	PART
fbem-3108	23	25	assess	assess	VERB
fbem-3108	23	26	the	the	DET
fbem-3108	23	27	environmental	environmental	ADJ
fbem-3108	23	28	performance	performance	NOUN
fbem-3108	23	29	of	of	ADP
fbem-3108	23	30	companies	company	NOUN
fbem-3108	23	31	,	,	PUNCT
fbem-3108	23	32	resulting	result	VERB
fbem-3108	23	33	in	in	ADP
fbem-3108	23	34	severe	severe	ADJ
fbem-3108	23	35	information	information	NOUN
fbem-3108	23	36	gaps	gap	NOUN
fbem-3108	23	37	between	between	ADP
fbem-3108	23	38	companies	company	NOUN
fbem-3108	23	39	and	and	CCONJ
fbem-3108	23	40	investors	investor	NOUN
fbem-3108	23	41	on	on	ADP
fbem-3108	23	42	environmental	environmental	ADJ
fbem-3108	23	43	governance	governance	NOUN
fbem-3108	23	44	.	.	PUNCT
fbem-3108	24	1	asymmetrical	asymmetrical	ADJ
fbem-3108	24	2	.	.	PUNCT
fbem-3108	25	1	information	information	NOUN
fbem-3108	25	2	asymmetry	asymmetry	NOUN
fbem-3108	25	3	is	be	AUX
fbem-3108	25	4	an	an	DET
fbem-3108	25	5	important	important	ADJ
fbem-3108	25	6	reason	reason	NOUN
fbem-3108	25	7	for	for	ADP
fbem-3108	25	8	rising	rise	VERB
fbem-3108	25	9	transaction	transaction	NOUN
fbem-3108	25	10	costs	cost	NOUN
fbem-3108	25	11	and	and	CCONJ
fbem-3108	25	12	misallocation	misallocation	NOUN
fbem-3108	25	13	of	of	ADP
fbem-3108	25	14	resources	resource	NOUN
fbem-3108	25	15	(	(	PUNCT
fbem-3108	25	16	akerlof	akerlof	NOUN
fbem-3108	25	17	1970	1970	NUM
fbem-3108	25	18	)	)	PUNCT
fbem-3108	25	19	.	.	PUNCT
fbem-3108	26	1	hence	hence	ADV
fbem-3108	26	2	,	,	PUNCT
fbem-3108	26	3	companies	company	NOUN
fbem-3108	26	4	may	may	AUX
fbem-3108	26	5	have	have	VERB
fbem-3108	26	6	the	the	DET
fbem-3108	26	7	incentive	incentive	NOUN
fbem-3108	26	8	to	to	PART
fbem-3108	26	9	send	send	VERB
fbem-3108	26	10	specific	specific	ADJ
fbem-3108	26	11	signals	signal	NOUN
fbem-3108	26	12	that	that	PRON
fbem-3108	26	13	imitators	imitator	NOUN
fbem-3108	26	14	need	need	VERB
fbem-3108	26	15	expensive	expensive	ADJ
fbem-3108	26	16	imitations	imitation	NOUN
fbem-3108	26	17	to	to	PART
fbem-3108	26	18	differentiate	differentiate	VERB
fbem-3108	26	19	themselves	themselves	PRON
fbem-3108	26	20	from	from	ADP
fbem-3108	26	21	other	other	ADJ
fbem-3108	26	22	competitors	competitor	NOUN
fbem-3108	26	23	in	in	ADP
fbem-3108	26	24	order	order	NOUN
fbem-3108	26	25	to	to	PART
fbem-3108	26	26	reduce	reduce	VERB
fbem-3108	26	27	information	information	NOUN
fbem-3108	26	28	asymmetry	asymmetry	NOUN
fbem-3108	26	29	(	(	PUNCT
fbem-3108	26	30	riley	riley	NOUN
fbem-3108	26	31	1979	1979	NUM
fbem-3108	26	32	)	)	PUNCT
fbem-3108	26	33	.	.	PUNCT
fbem-3108	27	1	the	the	DET
fbem-3108	27	2	issuance	issuance	NOUN
fbem-3108	27	3	of	of	ADP
fbem-3108	27	4	2	2	NUM
fbem-3108	27	5	corporate	corporate	ADJ
fbem-3108	27	6	green	green	ADJ
fbem-3108	27	7	bonds	bond	NOUN
fbem-3108	27	8	can	can	AUX
fbem-3108	27	9	be	be	AUX
fbem-3108	27	10	seen	see	VERB
fbem-3108	27	11	as	as	ADP
fbem-3108	27	12	a	a	DET
fbem-3108	27	13	specific	specific	ADJ
fbem-3108	27	14	outward	outward	ADJ
fbem-3108	27	15	signal	signal	NOUN
fbem-3108	27	16	for	for	ADP
fbem-3108	27	17	environmental	environmental	ADJ
fbem-3108	27	18	protection	protection	NOUN
fbem-3108	27	19	and	and	CCONJ
fbem-3108	27	20	green	green	ADJ
fbem-3108	27	21	development	development	NOUN
fbem-3108	27	22	,	,	PUNCT
fbem-3108	27	23	to	to	PART
fbem-3108	27	24	reduce	reduce	VERB
fbem-3108	27	25	the	the	DET
fbem-3108	27	26	information	information	NOUN
fbem-3108	27	27	asymmetry	asymmetry	NOUN
fbem-3108	27	28	of	of	ADP
fbem-3108	27	29	environmental	environmental	ADJ
fbem-3108	27	30	performance	performance	NOUN
fbem-3108	27	31	.	.	PUNCT
fbem-3108	28	1	the	the	DET
fbem-3108	28	2	reasons	reason	NOUN
fbem-3108	28	3	are	be	AUX
fbem-3108	28	4	as	as	SCONJ
fbem-3108	28	5	follows	follow	VERB
fbem-3108	28	6	:	:	PUNCT
fbem-3108	28	7	(	(	PUNCT
fbem-3108	28	8	1	1	X
fbem-3108	28	9	)	)	PUNCT
fbem-3108	28	10	under	under	ADP
fbem-3108	28	11	bond	bond	NOUN
fbem-3108	28	12	issuance	issuance	NOUN
fbem-3108	28	13	requirements	requirement	NOUN
fbem-3108	28	14	,	,	PUNCT
fbem-3108	28	15	companies	company	NOUN
fbem-3108	28	16	issuing	issue	VERB
fbem-3108	28	17	green	green	ADJ
fbem-3108	28	18	bonds	bond	NOUN
fbem-3108	28	19	must	must	AUX
fbem-3108	28	20	invest	invest	VERB
fbem-3108	28	21	some	some	PRON
fbem-3108	28	22	or	or	CCONJ
fbem-3108	28	23	even	even	ADV
fbem-3108	28	24	all	all	PRON
fbem-3108	28	25	of	of	ADP
fbem-3108	28	26	the	the	DET
fbem-3108	28	27	money	money	NOUN
fbem-3108	28	28	raised	raise	VERB
fbem-3108	28	29	in	in	ADP
fbem-3108	28	30	specific	specific	ADJ
fbem-3108	28	31	green	green	ADJ
fbem-3108	28	32	projects	project	NOUN
fbem-3108	28	33	rather	rather	ADV
fbem-3108	28	34	than	than	ADP
fbem-3108	28	35	high	high	ADJ
fbem-3108	28	36	-	-	PUNCT
fbem-3108	28	37	polluting	pollute	VERB
fbem-3108	28	38	projects	project	NOUN
fbem-3108	28	39	;	;	PUNCT
fbem-3108	28	40	(	(	PUNCT
fbem-3108	28	41	2	2	X
fbem-3108	28	42	)	)	PUNCT
fbem-3108	28	43	although	although	SCONJ
fbem-3108	28	44	third	third	ADJ
fbem-3108	28	45	-	-	PUNCT
fbem-3108	28	46	party	party	NOUN
fbem-3108	28	47	certification	certification	NOUN
fbem-3108	28	48	of	of	ADP
fbem-3108	28	49	green	green	ADJ
fbem-3108	28	50	bonds	bond	NOUN
fbem-3108	28	51	is	be	AUX
fbem-3108	28	52	not	not	PART
fbem-3108	28	53	mandatory	mandatory	ADJ
fbem-3108	28	54	,	,	PUNCT
fbem-3108	28	55	however	however	ADV
fbem-3108	28	56	,	,	PUNCT
fbem-3108	28	57	as	as	ADP
fbem-3108	28	58	an	an	DET
fbem-3108	28	59	industry	industry	NOUN
fbem-3108	28	60	practice	practice	NOUN
fbem-3108	28	61	,	,	PUNCT
fbem-3108	28	62	most	most	ADJ
fbem-3108	28	63	green	green	ADJ
fbem-3108	28	64	bond	bond	NOUN
fbem-3108	28	65	issuers	issuer	NOUN
fbem-3108	28	66	have	have	AUX
fbem-3108	28	67	introduced	introduce	VERB
fbem-3108	28	68	third	third	ADJ
fbem-3108	28	69	-	-	PUNCT
fbem-3108	28	70	party	party	NOUN
fbem-3108	28	71	certification	certification	NOUN
fbem-3108	28	72	to	to	PART
fbem-3108	28	73	ensure	ensure	VERB
fbem-3108	28	74	that	that	SCONJ
fbem-3108	28	75	their	their	PRON
fbem-3108	28	76	projects	project	NOUN
fbem-3108	28	77	are	be	AUX
fbem-3108	28	78	included	include	VERB
fbem-3108	28	79	in	in	ADP
fbem-3108	28	80	the	the	DET
fbem-3108	28	81	backed	back	VERB
fbem-3108	28	82	project	project	NOUN
fbem-3108	28	83	catalog	catalog	NOUN
fbem-3108	28	84	.	.	PUNCT
fbem-3108	29	1	green	green	ADJ
fbem-3108	29	2	bonds	bond	NOUN
fbem-3108	29	3	;	;	PUNCT
fbem-3108	29	4	(	(	PUNCT
fbem-3108	29	5	3	3	X
fbem-3108	29	6	)	)	PUNCT
fbem-3108	29	7	green	green	ADJ
fbem-3108	29	8	bond	bond	NOUN
fbem-3108	29	9	issuers	issuer	NOUN
fbem-3108	29	10	should	should	AUX
fbem-3108	29	11	regularly	regularly	ADV
fbem-3108	29	12	disclose	disclose	VERB
fbem-3108	29	13	information	information	NOUN
fbem-3108	29	14	about	about	ADP
fbem-3108	29	15	bonds	bond	NOUN
fbem-3108	29	16	,	,	PUNCT
fbem-3108	29	17	including	include	VERB
fbem-3108	29	18	benefits	benefit	NOUN
fbem-3108	29	19	,	,	PUNCT
fbem-3108	29	20	as	as	ADV
fbem-3108	29	21	well	well	ADV
fbem-3108	29	22	as	as	ADP
fbem-3108	29	23	qualitative	qualitative	ADJ
fbem-3108	29	24	or	or	CCONJ
fbem-3108	29	25	quantitative	quantitative	ADJ
fbem-3108	29	26	environmental	environmental	ADJ
fbem-3108	29	27	indicators	indicator	NOUN
fbem-3108	29	28	and	and	CCONJ
fbem-3108	29	29	assumptions	assumption	NOUN
fbem-3108	29	30	made	make	VERB
fbem-3108	29	31	in	in	ADP
fbem-3108	29	32	quantifying	quantify	VERB
fbem-3108	29	33	environmental	environmental	ADJ
fbem-3108	29	34	benefits	benefit	NOUN
fbem-3108	29	35	,	,	PUNCT
fbem-3108	29	36	etc	etc	X
fbem-3108	29	37	.	.	X
fbem-3108	29	38	on	on	ADP
fbem-3108	29	39	the	the	DET
fbem-3108	29	40	issue	issue	NOUN
fbem-3108	29	41	of	of	ADP
fbem-3108	29	42	enterprises	enterprise	NOUN
fbem-3108	29	43	that	that	PRON
fbem-3108	29	44	ca	can	AUX
fbem-3108	29	45	n't	not	PART
fbem-3108	29	46	commit	commit	VERB
fbem-3108	29	47	to	to	ADP
fbem-3108	29	48	green	green	ADJ
fbem-3108	29	49	development	development	NOUN
fbem-3108	29	50	,	,	PUNCT
fbem-3108	29	51	so	so	SCONJ
fbem-3108	29	52	they	they	PRON
fbem-3108	29	53	have	have	VERB
fbem-3108	29	54	the	the	DET
fbem-3108	29	55	function	function	NOUN
fbem-3108	29	56	of	of	ADP
fbem-3108	29	57	signal	signal	ADJ
fbem-3108	29	58	transmission	transmission	NOUN
fbem-3108	29	59	.	.	PUNCT
fbem-3108	30	1	consequently	consequently	ADV
fbem-3108	30	2	,	,	PUNCT
fbem-3108	30	3	when	when	SCONJ
fbem-3108	30	4	a	a	DET
fbem-3108	30	5	company	company	NOUN
fbem-3108	30	6	issues	issue	VERB
fbem-3108	30	7	a	a	DET
fbem-3108	30	8	green	green	ADJ
fbem-3108	30	9	bond	bond	NOUN
fbem-3108	30	10	,	,	PUNCT
fbem-3108	30	11	the	the	DET
fbem-3108	30	12	transmission	transmission	NOUN
fbem-3108	30	13	of	of	ADP
fbem-3108	30	14	the	the	DET
fbem-3108	30	15	signal	signal	NOUN
fbem-3108	30	16	can	can	AUX
fbem-3108	30	17	have	have	VERB
fbem-3108	30	18	the	the	DET
fbem-3108	30	19	following	following	ADJ
fbem-3108	30	20	impacts	impact	NOUN
fbem-3108	30	21	on	on	ADP
fbem-3108	30	22	the	the	DET
fbem-3108	30	23	economic	economic	ADJ
fbem-3108	30	24	and	and	CCONJ
fbem-3108	30	25	environmental	environmental	ADJ
fbem-3108	30	26	impacts	impact	NOUN
fbem-3108	30	27	of	of	ADP
fbem-3108	30	28	the	the	DET
fbem-3108	30	29	issuer	issuer	NOUN
fbem-3108	30	30	:	:	PUNCT
fbem-3108	30	31	(	(	PUNCT
fbem-3108	30	32	1	1	X
fbem-3108	30	33	)	)	PUNCT
fbem-3108	30	34	economic	economic	ADJ
fbem-3108	30	35	impacts	impact	NOUN
fbem-3108	30	36	of	of	ADP
fbem-3108	30	37	the	the	DET
fbem-3108	30	38	green	green	ADJ
fbem-3108	30	39	bond	bond	NOUN
fbem-3108	30	40	issuance	issuance	NOUN
fbem-3108	30	41	.	.	PUNCT
fbem-3108	31	1	the	the	DET
fbem-3108	31	2	signals	signal	NOUN
fbem-3108	31	3	sent	send	VERB
fbem-3108	31	4	by	by	ADP
fbem-3108	31	5	companies	company	NOUN
fbem-3108	31	6	through	through	ADP
fbem-3108	31	7	the	the	DET
fbem-3108	31	8	issuance	issuance	NOUN
fbem-3108	31	9	of	of	ADP
fbem-3108	31	10	green	green	ADJ
fbem-3108	31	11	bonds	bond	NOUN
fbem-3108	31	12	will	will	AUX
fbem-3108	31	13	help	help	VERB
fbem-3108	31	14	external	external	ADJ
fbem-3108	31	15	investors	investor	NOUN
fbem-3108	31	16	to	to	PART
fbem-3108	31	17	distinguish	distinguish	VERB
fbem-3108	31	18	between	between	ADP
fbem-3108	31	19	companies	company	NOUN
fbem-3108	31	20	engaged	engage	VERB
fbem-3108	31	21	in	in	ADP
fbem-3108	31	22	green	green	ADJ
fbem-3108	31	23	development	development	NOUN
fbem-3108	31	24	strategies	strategy	NOUN
fbem-3108	31	25	and	and	CCONJ
fbem-3108	31	26	non	non	ADJ
fbem-3108	31	27	-	-	ADJ
fbem-3108	31	28	green	green	ADJ
fbem-3108	31	29	development	development	NOUN
fbem-3108	31	30	strategies	strategy	NOUN
fbem-3108	31	31	,	,	PUNCT
fbem-3108	31	32	reduce	reduce	VERB
fbem-3108	31	33	information	information	NOUN
fbem-3108	31	34	asymmetry	asymmetry	NOUN
fbem-3108	31	35	and	and	CCONJ
fbem-3108	31	36	optimize	optimize	VERB
fbem-3108	31	37	resource	resource	NOUN
fbem-3108	31	38	allocation	allocation	NOUN
fbem-3108	31	39	.	.	PUNCT
fbem-3108	32	1	existing	exist	VERB
fbem-3108	32	2	studies	study	NOUN
fbem-3108	32	3	have	have	AUX
fbem-3108	32	4	shown	show	VERB
fbem-3108	32	5	that	that	PRON
fbem-3108	32	6	corporate	corporate	ADJ
fbem-3108	32	7	issuance	issuance	NOUN
fbem-3108	32	8	of	of	ADP
fbem-3108	32	9	green	green	ADJ
fbem-3108	32	10	bonds	bond	NOUN
fbem-3108	32	11	can	can	AUX
fbem-3108	32	12	attract	attract	VERB
fbem-3108	32	13	investors	investor	NOUN
fbem-3108	32	14	with	with	ADP
fbem-3108	32	15	green	green	ADJ
fbem-3108	32	16	preferences	preference	NOUN
fbem-3108	32	17	,	,	PUNCT
fbem-3108	32	18	broaden	broaden	VERB
fbem-3108	32	19	corporate	corporate	ADJ
fbem-3108	32	20	funding	funding	NOUN
fbem-3108	32	21	channels	channel	NOUN
fbem-3108	32	22	,	,	PUNCT
fbem-3108	32	23	and	and	CCONJ
fbem-3108	32	24	reduce	reduce	VERB
fbem-3108	32	25	bond	bond	NOUN
fbem-3108	32	26	financing	financing	NOUN
fbem-3108	32	27	costs(zhang	costs(zhang	PROPN
fbem-3108	32	28	et	et	PROPN
fbem-3108	32	29	al	al	PROPN
fbem-3108	32	30	.	.	PROPN
fbem-3108	32	31	2021	2021	NUM
fbem-3108	32	32	)	)	PUNCT
fbem-3108	32	33	.	.	PUNCT
fbem-3108	33	1	however	however	ADV
fbem-3108	33	2	,	,	PUNCT
fbem-3108	33	3	sangiorgi	sangiorgi	NOUN
fbem-3108	33	4	and	and	CCONJ
fbem-3108	33	5	schopohl	schopohl	NOUN
fbem-3108	33	6	(	(	PUNCT
fbem-3108	33	7	2021a	2021a	NUM
fbem-3108	33	8	)	)	PUNCT
fbem-3108	33	9	find	find	VERB
fbem-3108	33	10	that	that	SCONJ
fbem-3108	33	11	there	there	PRON
fbem-3108	33	12	is	be	VERB
fbem-3108	33	13	no	no	DET
fbem-3108	33	14	significant	significant	ADJ
fbem-3108	33	15	difference	difference	NOUN
fbem-3108	33	16	in	in	ADP
fbem-3108	33	17	the	the	DET
fbem-3108	33	18	interest	interest	NOUN
fbem-3108	33	19	rate	rate	NOUN
fbem-3108	33	20	differential	differential	NOUN
fbem-3108	33	21	between	between	ADP
fbem-3108	33	22	the	the	DET
fbem-3108	33	23	issuance	issuance	NOUN
fbem-3108	33	24	of	of	ADP
fbem-3108	33	25	green	green	ADJ
fbem-3108	33	26	bonds	bond	NOUN
fbem-3108	33	27	and	and	CCONJ
fbem-3108	33	28	ordinary	ordinary	ADJ
fbem-3108	33	29	bonds	bond	NOUN
fbem-3108	33	30	.	.	PUNCT
fbem-3108	34	1	"	"	PUNCT
fbem-3108	34	2	main	main	ADJ
fbem-3108	34	3	rationale	rationale	NOUN
fbem-3108	34	4	;	;	PUNCT
fbem-3108	34	5	(	(	PUNCT
fbem-3108	34	6	2	2	X
fbem-3108	34	7	)	)	PUNCT
fbem-3108	34	8	the	the	DET
fbem-3108	34	9	environmental	environmental	ADJ
fbem-3108	34	10	governance	governance	NOUN
fbem-3108	34	11	impact	impact	NOUN
fbem-3108	34	12	of	of	ADP
fbem-3108	34	13	green	green	ADJ
fbem-3108	34	14	bond	bond	NOUN
fbem-3108	34	15	issuance	issuance	NOUN
fbem-3108	34	16	.	.	PUNCT
fbem-3108	35	1	stakeholder	stakeholder	NOUN
fbem-3108	35	2	theory	theory	NOUN
fbem-3108	35	3	states	state	VERB
fbem-3108	35	4	that	that	SCONJ
fbem-3108	35	5	stakeholders	stakeholder	NOUN
fbem-3108	35	6	provide	provide	VERB
fbem-3108	35	7	resources	resource	NOUN
fbem-3108	35	8	relevant	relevant	ADJ
fbem-3108	35	9	to	to	ADP
fbem-3108	35	10	business	business	NOUN
fbem-3108	35	11	survival	survival	NOUN
fbem-3108	35	12	and	and	CCONJ
fbem-3108	35	13	development	development	NOUN
fbem-3108	35	14	,	,	PUNCT
fbem-3108	35	15	but	but	CCONJ
fbem-3108	35	16	also	also	ADV
fbem-3108	35	17	share	share	VERB
fbem-3108	35	18	environmental	environmental	ADJ
fbem-3108	35	19	risks	risk	NOUN
fbem-3108	35	20	and	and	CCONJ
fbem-3108	35	21	negative	negative	ADJ
fbem-3108	35	22	externalities	externality	NOUN
fbem-3108	35	23	of	of	ADP
fbem-3108	35	24	pollution	pollution	NOUN
fbem-3108	35	25	.	.	PUNCT
fbem-3108	36	1	therefore	therefore	ADV
fbem-3108	36	2	,	,	PUNCT
fbem-3108	36	3	stakeholders	stakeholder	NOUN
fbem-3108	36	4	have	have	VERB
fbem-3108	36	5	the	the	DET
fbem-3108	36	6	incentive	incentive	NOUN
fbem-3108	36	7	to	to	PART
fbem-3108	36	8	compel	compel	VERB
fbem-3108	36	9	companies	company	NOUN
fbem-3108	36	10	to	to	PART
fbem-3108	36	11	assume	assume	VERB
fbem-3108	36	12	appropriate	appropriate	ADJ
fbem-3108	36	13	environmental	environmental	ADJ
fbem-3108	36	14	responsibilities	responsibility	NOUN
fbem-3108	36	15	through	through	ADP
fbem-3108	36	16	contracts	contract	NOUN
fbem-3108	36	17	and	and	CCONJ
fbem-3108	36	18	form	form	VERB
fbem-3108	36	19	a	a	DET
fbem-3108	36	20	joint	joint	ADJ
fbem-3108	36	21	stakeholder	stakeholder	NOUN
fbem-3108	36	22	governance	governance	NOUN
fbem-3108	36	23	model	model	NOUN
fbem-3108	36	24	(	(	PUNCT
fbem-3108	36	25	spitzeck	spitzeck	PROPN
fbem-3108	36	26	&	&	CCONJ
fbem-3108	36	27	hansen	hansen	PROPN
fbem-3108	36	28	erik	erik	PROPN
fbem-3108	36	29	,	,	PUNCT
fbem-3108	36	30	2010	2010	NUM
fbem-3108	36	31	)	)	PUNCT
fbem-3108	36	32	.	.	PUNCT
fbem-3108	37	1	the	the	DET
fbem-3108	37	2	issuance	issuance	NOUN
fbem-3108	37	3	of	of	ADP
fbem-3108	37	4	green	green	ADJ
fbem-3108	37	5	bonds	bond	NOUN
fbem-3108	37	6	is	be	AUX
fbem-3108	37	7	a	a	DET
fbem-3108	37	8	signal	signal	NOUN
fbem-3108	37	9	for	for	ADP
fbem-3108	37	10	the	the	DET
fbem-3108	37	11	green	green	PROPN
fbem-3108	37	12	development	development	NOUN
fbem-3108	37	13	of	of	ADP
fbem-3108	37	14	companies	company	NOUN
fbem-3108	37	15	to	to	ADP
fbem-3108	37	16	the	the	DET
fbem-3108	37	17	outside	outside	ADJ
fbem-3108	37	18	world	world	NOUN
fbem-3108	37	19	.	.	PUNCT
fbem-3108	38	1	on	on	ADP
fbem-3108	38	2	the	the	DET
fbem-3108	38	3	one	one	NUM
fbem-3108	38	4	hand	hand	NOUN
fbem-3108	38	5	,	,	PUNCT
fbem-3108	38	6	it	it	PRON
fbem-3108	38	7	attracts	attract	VERB
fbem-3108	38	8	investors	investor	NOUN
fbem-3108	38	9	with	with	ADP
fbem-3108	38	10	a	a	DET
fbem-3108	38	11	green	green	ADJ
fbem-3108	38	12	preference	preference	NOUN
fbem-3108	38	13	,	,	PUNCT
fbem-3108	38	14	on	on	ADP
fbem-3108	38	15	the	the	DET
fbem-3108	38	16	other	other	ADJ
fbem-3108	38	17	hand	hand	NOUN
fbem-3108	38	18	,	,	PUNCT
fbem-3108	38	19	it	it	PRON
fbem-3108	38	20	also	also	ADV
fbem-3108	38	21	attracts	attract	VERB
fbem-3108	38	22	public	public	ADJ
fbem-3108	38	23	attention	attention	NOUN
fbem-3108	38	24	and	and	CCONJ
fbem-3108	38	25	promotes	promote	VERB
fbem-3108	38	26	corporate	corporate	ADJ
fbem-3108	38	27	environmental	environmental	ADJ
fbem-3108	38	28	governance	governance	NOUN
fbem-3108	38	29	by	by	ADP
fbem-3108	38	30	stakeholders	stakeholder	NOUN
fbem-3108	38	31	.	.	PUNCT
fbem-3108	39	1	additionally	additionally	ADV
fbem-3108	39	2	,	,	PUNCT
fbem-3108	39	3	issuing	issue	VERB
fbem-3108	39	4	green	green	ADJ
fbem-3108	39	5	corporate	corporate	ADJ
fbem-3108	39	6	bonds	bond	NOUN
fbem-3108	39	7	has	have	AUX
fbem-3108	39	8	established	establish	VERB
fbem-3108	39	9	a	a	DET
fbem-3108	39	10	green	green	ADJ
fbem-3108	39	11	reputation	reputation	NOUN
fbem-3108	39	12	for	for	ADP
fbem-3108	39	13	the	the	DET
fbem-3108	39	14	company	company	NOUN
fbem-3108	39	15	's	's	PART
fbem-3108	39	16	green	green	ADJ
fbem-3108	39	17	commitment	commitment	NOUN
fbem-3108	39	18	.	.	PUNCT
fbem-3108	40	1	the	the	DET
fbem-3108	40	2	green	green	ADJ
fbem-3108	40	3	reputation	reputation	NOUN
fbem-3108	40	4	further	far	ADV
fbem-3108	40	5	limits	limit	VERB
fbem-3108	40	6	opportunistic	opportunistic	ADJ
fbem-3108	40	7	pollution	pollution	NOUN
fbem-3108	40	8	behavior	behavior	NOUN
fbem-3108	40	9	by	by	ADP
fbem-3108	40	10	companies	company	NOUN
fbem-3108	40	11	.	.	PUNCT
fbem-3108	41	1	flammer	flammer	PROPN
fbem-3108	41	2	's	's	PART
fbem-3108	41	3	(	(	PUNCT
fbem-3108	41	4	2021	2021	NUM
fbem-3108	41	5	)	)	PUNCT
fbem-3108	41	6	research	research	NOUN
fbem-3108	41	7	on	on	ADP
fbem-3108	41	8	us	us	PROPN
fbem-3108	41	9	companies	company	NOUN
fbem-3108	41	10	found	find	VERB
fbem-3108	41	11	that	that	SCONJ
fbem-3108	41	12	companies	company	NOUN
fbem-3108	41	13	had	have	VERB
fbem-3108	41	14	higher	high	ADJ
fbem-3108	41	15	environmental	environmental	ADJ
fbem-3108	41	16	ratings	rating	NOUN
fbem-3108	41	17	and	and	CCONJ
fbem-3108	41	18	lower	low	ADJ
fbem-3108	41	19	carbon	carbon	NOUN
fbem-3108	41	20	emissions	emission	NOUN
fbem-3108	41	21	intensity	intensity	NOUN
fbem-3108	41	22	after	after	ADP
fbem-3108	41	23	issuing	issue	VERB
fbem-3108	41	24	green	green	ADJ
fbem-3108	41	25	bonds	bond	NOUN
fbem-3108	41	26	.	.	PUNCT
fbem-3108	42	1	due	due	ADP
fbem-3108	42	2	to	to	ADP
fbem-3108	42	3	the	the	DET
fbem-3108	42	4	impact	impact	NOUN
fbem-3108	42	5	of	of	ADP
fbem-3108	42	6	the	the	DET
fbem-3108	42	7	economic	economic	ADJ
fbem-3108	42	8	effects	effect	NOUN
fbem-3108	42	9	of	of	ADP
fbem-3108	42	10	green	green	ADJ
fbem-3108	42	11	bond	bond	NOUN
fbem-3108	42	12	issuance	issuance	NOUN
fbem-3108	42	13	,	,	PUNCT
fbem-3108	42	14	especially	especially	ADV
fbem-3108	42	15	the	the	DET
fbem-3108	42	16	impact	impact	NOUN
fbem-3108	42	17	of	of	ADP
fbem-3108	42	18	bond	bond	NOUN
fbem-3108	42	19	issue	issue	NOUN
fbem-3108	42	20	costs	cost	NOUN
fbem-3108	42	21	,	,	PUNCT
fbem-3108	42	22	there	there	PRON
fbem-3108	42	23	is	be	VERB
fbem-3108	42	24	controversy	controversy	NOUN
fbem-3108	42	25	,	,	PUNCT
fbem-3108	42	26	which	which	PRON
fbem-3108	42	27	is	be	AUX
fbem-3108	42	28	directly	directly	ADV
fbem-3108	42	29	related	relate	VERB
fbem-3108	42	30	to	to	ADP
fbem-3108	42	31	whether	whether	SCONJ
fbem-3108	42	32	companies	company	NOUN
fbem-3108	42	33	have	have	AUX
fbem-3108	42	34	the	the	DET
fbem-3108	42	35	motivation	motivation	NOUN
fbem-3108	42	36	to	to	PART
fbem-3108	42	37	use	use	VERB
fbem-3108	42	38	the	the	DET
fbem-3108	42	39	policy	policy	NOUN
fbem-3108	42	40	channel	channel	NOUN
fbem-3108	42	41	of	of	ADP
fbem-3108	42	42	green	green	ADJ
fbem-3108	42	43	bonds	bond	NOUN
fbem-3108	42	44	to	to	PART
fbem-3108	42	45	"	"	PUNCT
fbem-3108	42	46	go	go	VERB
fbem-3108	42	47	green	green	ADJ
fbem-3108	42	48	"	"	PUNCT
fbem-3108	42	49	.	.	PUNCT
fbem-3108	43	1	when	when	SCONJ
fbem-3108	43	2	issuing	issue	VERB
fbem-3108	43	3	green	green	ADJ
fbem-3108	43	4	bonds	bond	NOUN
fbem-3108	43	5	.	.	PUNCT
fbem-3108	44	1	for	for	ADP
fbem-3108	44	2	this	this	DET
fbem-3108	44	3	reason	reason	NOUN
fbem-3108	44	4	,	,	PUNCT
fbem-3108	44	5	this	this	DET
fbem-3108	44	6	paper	paper	NOUN
fbem-3108	44	7	adopts	adopt	VERB
fbem-3108	44	8	a	a	DET
fbem-3108	44	9	different	different	ADJ
fbem-3108	44	10	perspective	perspective	NOUN
fbem-3108	44	11	and	and	CCONJ
fbem-3108	44	12	focuses	focus	VERB
fbem-3108	44	13	on	on	ADP
fbem-3108	44	14	the	the	DET
fbem-3108	44	15	environmental	environmental	ADJ
fbem-3108	44	16	management	management	NOUN
fbem-3108	44	17	effect	effect	NOUN
fbem-3108	44	18	of	of	ADP
fbem-3108	44	19	green	green	ADJ
fbem-3108	44	20	bond	bond	NOUN
fbem-3108	44	21	issuance	issuance	NOUN
fbem-3108	44	22	.	.	PUNCT
fbem-3108	45	1	if	if	SCONJ
fbem-3108	45	2	the	the	DET
fbem-3108	45	3	environmental	environmental	ADJ
fbem-3108	45	4	governance	governance	NOUN
fbem-3108	45	5	effect	effect	NOUN
fbem-3108	45	6	of	of	ADP
fbem-3108	45	7	enterprises	enterprise	NOUN
fbem-3108	45	8	is	be	AUX
fbem-3108	45	9	improved	improve	VERB
fbem-3108	45	10	after	after	ADP
fbem-3108	45	11	issuing	issue	VERB
fbem-3108	45	12	green	green	ADJ
fbem-3108	45	13	bonds	bond	NOUN
fbem-3108	45	14	,	,	PUNCT
fbem-3108	45	15	it	it	PRON
fbem-3108	45	16	means	mean	VERB
fbem-3108	45	17	that	that	SCONJ
fbem-3108	45	18	the	the	DET
fbem-3108	45	19	motivation	motivation	NOUN
fbem-3108	45	20	of	of	ADP
fbem-3108	45	21	enterprises	enterprise	NOUN
fbem-3108	45	22	to	to	PART
fbem-3108	45	23	issue	issue	VERB
fbem-3108	45	24	green	green	ADJ
fbem-3108	45	25	bonds	bond	NOUN
fbem-3108	45	26	is	be	AUX
fbem-3108	45	27	mainly	mainly	ADV
fbem-3108	45	28	their	their	PRON
fbem-3108	45	29	orientation	orientation	NOUN
fbem-3108	45	30	to	to	ADP
fbem-3108	45	31	green	green	ADJ
fbem-3108	45	32	development	development	NOUN
fbem-3108	45	33	strategy	strategy	NOUN
fbem-3108	45	34	,	,	PUNCT
fbem-3108	45	35	not	not	PART
fbem-3108	45	36	the	the	DET
fbem-3108	45	37	motivation	motivation	NOUN
fbem-3108	45	38	of	of	ADP
fbem-3108	45	39	"	"	PUNCT
fbem-3108	45	40	green	green	ADJ
fbem-3108	45	41	driving	driving	NOUN
fbem-3108	45	42	"	"	PUNCT
fbem-3108	45	43	.	.	PUNCT
fbem-3108	46	1	in	in	ADP
fbem-3108	46	2	addition	addition	NOUN
fbem-3108	46	3	,	,	PUNCT
fbem-3108	46	4	for	for	ADP
fbem-3108	46	5	the	the	DET
fbem-3108	46	6	robustness	robustness	NOUN
fbem-3108	46	7	of	of	ADP
fbem-3108	46	8	the	the	DET
fbem-3108	46	9	research	research	NOUN
fbem-3108	46	10	results	result	NOUN
fbem-3108	46	11	,	,	PUNCT
fbem-3108	46	12	this	this	DET
fbem-3108	46	13	paper	paper	NOUN
fbem-3108	46	14	also	also	ADV
fbem-3108	46	15	analyzes	analyze	VERB
fbem-3108	46	16	the	the	DET
fbem-3108	46	17	individual	individual	ADJ
fbem-3108	46	18	characteristics	characteristic	NOUN
fbem-3108	46	19	influencing	influence	VERB
fbem-3108	46	20	corporate	corporate	ADJ
fbem-3108	46	21	green	green	ADJ
fbem-3108	46	22	bond	bond	NOUN
fbem-3108	46	23	issuance	issuance	NOUN
fbem-3108	46	24	,	,	PUNCT
fbem-3108	46	25	focusing	focus	VERB
fbem-3108	46	26	on	on	ADP
fbem-3108	46	27	whether	whether	SCONJ
fbem-3108	46	28	the	the	DET
fbem-3108	46	29	company	company	NOUN
fbem-3108	46	30	's	's	PART
fbem-3108	46	31	green	green	ADJ
fbem-3108	46	32	development	development	NOUN
fbem-3108	46	33	strategy	strategy	NOUN
fbem-3108	46	34	is	be	AUX
fbem-3108	46	35	the	the	DET
fbem-3108	46	36	most	most	ADV
fbem-3108	46	37	important	important	ADJ
fbem-3108	46	38	driver	driver	NOUN
fbem-3108	46	39	of	of	ADP
fbem-3108	46	40	green	green	ADJ
fbem-3108	46	41	bond	bond	NOUN
fbem-3108	46	42	issuance	issuance	NOUN
fbem-3108	46	43	,	,	PUNCT
fbem-3108	46	44	to	to	PART
fbem-3108	46	45	further	far	ADV
fbem-3108	46	46	influence	influence	VERB
fbem-3108	46	47	research	research	NOUN
fbem-3108	46	48	findings	finding	NOUN
fbem-3108	46	49	with	with	ADP
fbem-3108	46	50	the	the	DET
fbem-3108	46	51	environmental	environmental	ADJ
fbem-3108	46	52	governance	governance	NOUN
fbem-3108	46	53	effect	effect	NOUN
fbem-3108	46	54	of	of	ADP
fbem-3108	46	55	green	green	ADJ
fbem-3108	46	56	bond	bond	NOUN
fbem-3108	46	57	issuance	issuance	NOUN
fbem-3108	46	58	echoes	echo	VERB
fbem-3108	46	59	.	.	PUNCT
fbem-3108	47	1	the	the	DET
fbem-3108	47	2	original	original	ADJ
fbem-3108	47	3	intention	intention	NOUN
fbem-3108	47	4	of	of	ADP
fbem-3108	47	5	establishing	establish	VERB
fbem-3108	47	6	green	green	ADJ
fbem-3108	47	7	bonds	bond	NOUN
fbem-3108	47	8	is	be	AUX
fbem-3108	47	9	to	to	PART
fbem-3108	47	10	reduce	reduce	VERB
fbem-3108	47	11	information	information	NOUN
fbem-3108	47	12	asymmetry	asymmetry	NOUN
fbem-3108	47	13	,	,	PUNCT
fbem-3108	47	14	attract	attract	VERB
fbem-3108	47	15	preferred	preferred	ADJ
fbem-3108	47	16	green	green	ADJ
fbem-3108	47	17	investors	investor	NOUN
fbem-3108	47	18	,	,	PUNCT
fbem-3108	47	19	and	and	CCONJ
fbem-3108	47	20	guide	guide	VERB
fbem-3108	47	21	companies	company	NOUN
fbem-3108	47	22	in	in	ADP
fbem-3108	47	23	transforming	transform	VERB
fbem-3108	47	24	and	and	CCONJ
fbem-3108	47	25	upgrading	upgrade	VERB
fbem-3108	47	26	their	their	PRON
fbem-3108	47	27	green	green	ADJ
fbem-3108	47	28	development	development	NOUN
fbem-3108	47	29	.	.	PUNCT
fbem-3108	48	1	business	business	NOUN
fbem-3108	48	2	strategy	strategy	NOUN
fbem-3108	48	3	directly	directly	ADV
fbem-3108	48	4	affects	affect	VERB
fbem-3108	48	5	the	the	DET
fbem-3108	48	6	company	company	NOUN
fbem-3108	48	7	's	's	PART
fbem-3108	48	8	investment	investment	NOUN
fbem-3108	48	9	and	and	CCONJ
fbem-3108	48	10	financing	financing	NOUN
fbem-3108	48	11	decisions	decision	NOUN
fbem-3108	48	12	.	.	PUNCT
fbem-3108	49	1	combined	combine	VERB
fbem-3108	49	2	with	with	ADP
fbem-3108	49	3	the	the	DET
fbem-3108	49	4	aforementioned	aforementioned	ADJ
fbem-3108	49	5	theoretical	theoretical	ADJ
fbem-3108	49	6	analysis	analysis	NOUN
fbem-3108	49	7	of	of	ADP
fbem-3108	49	8	green	green	ADJ
fbem-3108	49	9	bond	bond	NOUN
fbem-3108	49	10	issuance	issuance	NOUN
fbem-3108	49	11	to	to	PART
fbem-3108	49	12	reduce	reduce	VERB
fbem-3108	49	13	information	information	NOUN
fbem-3108	49	14	asymmetry	asymmetry	NOUN
fbem-3108	49	15	,	,	PUNCT
fbem-3108	49	16	this	this	DET
fbem-3108	49	17	paper	paper	NOUN
fbem-3108	49	18	first	first	ADV
fbem-3108	49	19	proposes	propose	VERB
fbem-3108	49	20	research	research	NOUN
fbem-3108	49	21	hypothesis	hypothesis	NOUN
fbem-3108	49	22	1	1	NUM
fbem-3108	49	23	:	:	PUNCT
fbem-3108	49	24	hypothesis	hypothesis	NOUN
fbem-3108	49	25	1	1	NUM
fbem-3108	49	26	:	:	PUNCT
fbem-3108	49	27	the	the	DET
fbem-3108	49	28	strategic	strategic	ADJ
fbem-3108	49	29	orientation	orientation	NOUN
fbem-3108	49	30	of	of	ADP
fbem-3108	49	31	green	green	ADJ
fbem-3108	49	32	corporate	corporate	ADJ
fbem-3108	49	33	development	development	NOUN
fbem-3108	49	34	increases	increase	VERB
fbem-3108	49	35	the	the	DET
fbem-3108	49	36	propensity	propensity	NOUN
fbem-3108	49	37	to	to	PART
fbem-3108	49	38	issue	issue	VERB
fbem-3108	49	39	corporate	corporate	ADJ
fbem-3108	49	40	green	green	ADJ
fbem-3108	49	41	bonds	bond	NOUN
fbem-3108	49	42	.	.	PUNCT
fbem-3108	50	1	based	base	VERB
fbem-3108	50	2	on	on	ADP
fbem-3108	50	3	the	the	DET
fbem-3108	50	4	aforementioned	aforementioned	ADJ
fbem-3108	50	5	analysis	analysis	NOUN
fbem-3108	50	6	of	of	ADP
fbem-3108	50	7	the	the	DET
fbem-3108	50	8	environmental	environmental	ADJ
fbem-3108	50	9	governance	governance	NOUN
fbem-3108	50	10	effects	effect	NOUN
fbem-3108	50	11	of	of	ADP
fbem-3108	50	12	green	green	ADJ
fbem-3108	50	13	bond	bond	NOUN
fbem-3108	50	14	issuance	issuance	NOUN
fbem-3108	50	15	,	,	PUNCT
fbem-3108	50	16	this	this	DET
fbem-3108	50	17	paper	paper	NOUN
fbem-3108	50	18	proposes	propose	VERB
fbem-3108	50	19	research	research	NOUN
fbem-3108	50	20	hypothesis	hypothesis	NOUN
fbem-3108	50	21	2	2	NUM
fbem-3108	50	22	:	:	PUNCT
fbem-3108	50	23	hypothesis	hypothesis	NOUN
fbem-3108	50	24	2	2	NUM
fbem-3108	50	25	:	:	PUNCT
fbem-3108	50	26	the	the	DET
fbem-3108	50	27	issuance	issuance	NOUN
fbem-3108	50	28	of	of	ADP
fbem-3108	50	29	green	green	ADJ
fbem-3108	50	30	bonds	bond	NOUN
fbem-3108	50	31	can	can	AUX
fbem-3108	50	32	contribute	contribute	VERB
fbem-3108	50	33	to	to	ADP
fbem-3108	50	34	improving	improve	VERB
fbem-3108	50	35	the	the	DET
fbem-3108	50	36	environmental	environmental	ADJ
fbem-3108	50	37	performance	performance	NOUN
fbem-3108	50	38	of	of	ADP
fbem-3108	50	39	companies	company	NOUN
fbem-3108	50	40	.	.	PUNCT
fbem-3108	51	1	4	4	X
fbem-3108	51	2	.	.	X
fbem-3108	51	3	research	research	NOUN
fbem-3108	51	4	design	design	NOUN
fbem-3108	51	5	4.1	4.1	NUM
fbem-3108	51	6	.	.	PUNCT
fbem-3108	52	1	model	model	NOUN
fbem-3108	52	2	specification	specification	NOUN
fbem-3108	52	3	to	to	PART
fbem-3108	52	4	examine	examine	VERB
fbem-3108	52	5	the	the	DET
fbem-3108	52	6	individual	individual	ADJ
fbem-3108	52	7	characteristics	characteristic	NOUN
fbem-3108	52	8	of	of	ADP
fbem-3108	52	9	green	green	ADJ
fbem-3108	52	10	bond	bond	NOUN
fbem-3108	52	11	issuers	issuer	NOUN
fbem-3108	52	12	and	and	CCONJ
fbem-3108	52	13	test	test	NOUN
fbem-3108	52	14	hypothesis	hypothesis	NOUN
fbem-3108	52	15	1	1	NUM
fbem-3108	52	16	,	,	PUNCT
fbem-3108	52	17	this	this	DET
fbem-3108	52	18	article	article	NOUN
fbem-3108	52	19	references	reference	VERB
fbem-3108	52	20	research	research	NOUN
fbem-3108	52	21	by	by	ADP
fbem-3108	52	22	flammer	flammer	PROPN
fbem-3108	52	23	(	(	PUNCT
fbem-3108	52	24	2021	2021	NUM
fbem-3108	52	25	)	)	PUNCT
fbem-3108	52	26	to	to	PART
fbem-3108	52	27	create	create	VERB
fbem-3108	52	28	a	a	DET
fbem-3108	52	29	logit	logit	NOUN
fbem-3108	52	30	model	model	NOUN
fbem-3108	52	31	affecting	affect	VERB
fbem-3108	52	32	corporate	corporate	ADJ
fbem-3108	52	33	green	green	ADJ
fbem-3108	52	34	bond	bond	NOUN
fbem-3108	52	35	issuance	issuance	NOUN
fbem-3108	52	36	:	:	PUNCT
fbem-3108	53	1	gbissuei	gbissuei	PROPN
fbem-3108	53	2	,	,	PUNCT
fbem-3108	53	3	t	t	PROPN
fbem-3108	53	4	=	=	SYM
fbem-3108	53	5	α0+α1sizei	α0+α1sizei	NUM
fbem-3108	53	6	,	,	PUNCT
fbem-3108	53	7	t-1+α2tobin’qi	t-1+α2tobin’qi	NOUN
fbem-3108	53	8	,	,	PUNCT
fbem-3108	53	9	t-1+α3roai	t-1+α3roai	ADV
fbem-3108	53	10	,	,	PUNCT
fbem-3108	53	11	t-1+α4levi	t-1+α4levi	ADV
fbem-3108	53	12	,	,	PUNCT
fbem-3108	53	13	t1+α5esgi	t1+α5esgi	PROPN
fbem-3108	53	14	,	,	PUNCT
fbem-3108	53	15	t-1+α6gsi	t-1+α6gsi	NOUN
fbem-3108	53	16	,	,	PUNCT
fbem-3108	53	17	t-1+α7soei	t-1+α7soei	PRON
fbem-3108	53	18	,	,	PUNCT
fbem-3108	53	19	t+ind+year+ɛi	t+ind+year+ɛi	PROPN
fbem-3108	53	20	,	,	PUNCT
fbem-3108	53	21	t	t	PROPN
fbem-3108	53	22	(	(	PUNCT
fbem-3108	53	23	1	1	NUM
fbem-3108	53	24	)	)	PUNCT
fbem-3108	53	25	dependent	dependent	ADJ
fbem-3108	53	26	variable	variable	ADJ
fbem-3108	53	27	gbissue	gbissue	NOUN
fbem-3108	53	28	is	be	AUX
fbem-3108	53	29	whether	whether	SCONJ
fbem-3108	53	30	company	company	NOUN
fbem-3108	53	31	i	i	PRON
fbem-3108	53	32	issues	issue	VERB
fbem-3108	53	33	green	green	ADJ
fbem-3108	53	34	bonds	bond	NOUN
fbem-3108	53	35	in	in	ADP
fbem-3108	53	36	year	year	NOUN
fbem-3108	53	37	t	t	PROPN
fbem-3108	53	38	,	,	PUNCT
fbem-3108	53	39	if	if	SCONJ
fbem-3108	53	40	issued	issue	VERB
fbem-3108	53	41	it	it	PRON
fbem-3108	53	42	is	be	AUX
fbem-3108	53	43	1	1	NUM
fbem-3108	53	44	,	,	PUNCT
fbem-3108	53	45	otherwise	otherwise	ADV
fbem-3108	53	46	it	it	PRON
fbem-3108	53	47	is	be	AUX
fbem-3108	53	48	0	0	NUM
fbem-3108	53	49	.	.	PUNCT
fbem-3108	54	1	the	the	DET
fbem-3108	54	2	independent	independent	ADJ
fbem-3108	54	3	variables	variable	NOUN
fbem-3108	54	4	in	in	ADP
fbem-3108	54	5	model	model	NOUN
fbem-3108	54	6	(	(	PUNCT
fbem-3108	54	7	1	1	NUM
fbem-3108	54	8	)	)	PUNCT
fbem-3108	54	9	include	include	VERB
fbem-3108	54	10	the	the	DET
fbem-3108	54	11	size	size	NOUN
fbem-3108	54	12	of	of	ADP
fbem-3108	54	13	the	the	DET
fbem-3108	54	14	company	company	NOUN
fbem-3108	54	15	(	(	PUNCT
fbem-3108	54	16	size	size	NOUN
fbem-3108	54	17	)	)	PUNCT
fbem-3108	54	18	,	,	PUNCT
fbem-3108	54	19	the	the	DET
fbem-3108	54	20	q	q	NOUN
fbem-3108	54	21	value	value	NOUN
fbem-3108	54	22	of	of	ADP
fbem-3108	54	23	tobin	tobin	PROPN
fbem-3108	54	24	(	(	PUNCT
fbem-3108	54	25	tobin	tobin	NOUN
fbem-3108	54	26	'	'	PART
fbem-3108	54	27	q	q	NOUN
fbem-3108	54	28	)	)	PUNCT
fbem-3108	54	29	,	,	PUNCT
fbem-3108	54	30	return	return	VERB
fbem-3108	54	31	on	on	ADP
fbem-3108	54	32	net	net	ADJ
fbem-3108	54	33	assets	asset	NOUN
fbem-3108	54	34	(	(	PUNCT
fbem-3108	54	35	roa	roa	NOUN
fbem-3108	54	36	)	)	PUNCT
fbem-3108	54	37	,	,	PUNCT
fbem-3108	54	38	asset	asset	NOUN
fbem-3108	54	39	-	-	PUNCT
fbem-3108	54	40	to	to	ADP
fbem-3108	54	41	-	-	PUNCT
fbem-3108	54	42	liability	liability	NOUN
fbem-3108	54	43	ratio	ratio	NOUN
fbem-3108	54	44	(	(	PUNCT
fbem-3108	54	45	lev	lev	NOUN
fbem-3108	54	46	)	)	PUNCT
fbem-3108	54	47	,	,	PUNCT
fbem-3108	54	48	corporate	corporate	ADJ
fbem-3108	54	49	esg	esg	NOUN
fbem-3108	54	50	rating	rating	NOUN
fbem-3108	54	51	(	(	PUNCT
fbem-3108	54	52	esg	esg	PROPN
fbem-3108	54	53	)	)	PUNCT
fbem-3108	54	54	,	,	PUNCT
fbem-3108	54	55	corporate	corporate	ADJ
fbem-3108	54	56	green	green	ADJ
fbem-3108	54	57	development	development	NOUN
fbem-3108	54	58	strategy	strategy	NOUN
fbem-3108	54	59	(	(	PUNCT
fbem-3108	54	60	gs	gs	NOUN
fbem-3108	54	61	)	)	PUNCT
fbem-3108	54	62	and	and	CCONJ
fbem-3108	54	63	property	property	NOUN
fbem-3108	54	64	rights	right	NOUN
fbem-3108	54	65	(	(	PUNCT
fbem-3108	54	66	soe	soe	PROPN
fbem-3108	54	67	)	)	PUNCT
fbem-3108	54	68	,	,	PUNCT
fbem-3108	54	69	etc	etc	X
fbem-3108	54	70	.	.	X
fbem-3108	55	1	among	among	ADP
fbem-3108	55	2	them	they	PRON
fbem-3108	55	3	,	,	PUNCT
fbem-3108	55	4	the	the	DET
fbem-3108	55	5	company	company	NOUN
fbem-3108	55	6	's	's	PART
fbem-3108	55	7	esg	esg	NOUN
fbem-3108	55	8	rating	rating	NOUN
fbem-3108	55	9	data	datum	NOUN
fbem-3108	55	10	is	be	AUX
fbem-3108	55	11	from	from	ADP
fbem-3108	55	12	huazheng	huazheng	PROPN
fbem-3108	55	13	's	's	PART
fbem-3108	55	14	esg	esg	NOUN
fbem-3108	55	15	rating	rating	NOUN
fbem-3108	55	16	,	,	PUNCT
fbem-3108	55	17	and	and	CCONJ
fbem-3108	55	18	the	the	DET
fbem-3108	55	19	lowest	low	ADJ
fbem-3108	55	20	"	"	PUNCT
fbem-3108	55	21	c	c	NOUN
fbem-3108	55	22	"	"	PUNCT
fbem-3108	55	23	rating	rating	NOUN
fbem-3108	55	24	is	be	AUX
fbem-3108	55	25	set	set	VERB
fbem-3108	55	26	to	to	ADP
fbem-3108	55	27	1	1	NUM
fbem-3108	55	28	,	,	PUNCT
fbem-3108	55	29	the	the	DET
fbem-3108	55	30	highest	high	ADJ
fbem-3108	55	31	"	"	PUNCT
fbem-3108	55	32	a	a	DET
fbem-3108	55	33	aa	aa	NOUN
fbem-3108	55	34	"	"	PUNCT
fbem-3108	55	35	rating	rating	NOUN
fbem-3108	55	36	is	be	AUX
fbem-3108	55	37	set	set	VERB
fbem-3108	55	38	to	to	ADP
fbem-3108	55	39	9	9	NUM
fbem-3108	55	40	,	,	PUNCT
fbem-3108	55	41	and	and	CCONJ
fbem-3108	55	42	the	the	DET
fbem-3108	55	43	other	other	ADJ
fbem-3108	55	44	ratings	rating	NOUN
fbem-3108	55	45	are	be	AUX
fbem-3108	55	46	ranked	rank	VERB
fbem-3108	55	47	into	into	ADP
fbem-3108	55	48	under	under	ADP
fbem-3108	55	49	this	this	DET
fbem-3108	55	50	order	order	NOUN
fbem-3108	55	51	;	;	PUNCT
fbem-3108	55	52	the	the	DET
fbem-3108	55	53	company	company	NOUN
fbem-3108	55	54	's	's	PART
fbem-3108	55	55	green	green	PROPN
fbem-3108	55	56	development	development	PROPN
fbem-3108	55	57	strategy	strategy	NOUN
fbem-3108	55	58	data	datum	NOUN
fbem-3108	55	59	is	be	AUX
fbem-3108	55	60	from	from	ADP
fbem-3108	55	61	the	the	DET
fbem-3108	55	62	management	management	NOUN
fbem-3108	55	63	's	's	PART
fbem-3108	55	64	discussion	discussion	NOUN
fbem-3108	55	65	and	and	CCONJ
fbem-3108	55	66	analysis	analysis	NOUN
fbem-3108	55	67	in	in	ADP
fbem-3108	55	68	the	the	DET
fbem-3108	55	69	company	company	NOUN
fbem-3108	55	70	's	's	PART
fbem-3108	55	71	annual	annual	ADJ
fbem-3108	55	72	report	report	NOUN
fbem-3108	55	73	,	,	PUNCT
fbem-3108	55	74	through	through	ADP
fbem-3108	55	75	python	python	NOUN
fbem-3108	55	76	text	text	NOUN
fbem-3108	55	77	analysis	analysis	NOUN
fbem-3108	55	78	,	,	PUNCT
fbem-3108	55	79	to	to	PART
fbem-3108	55	80	determine	determine	VERB
fbem-3108	55	81	whether	whether	SCONJ
fbem-3108	55	82	it	it	PRON
fbem-3108	55	83	has	have	AUX
fbem-3108	55	84	established	establish	VERB
fbem-3108	55	85	a	a	DET
fbem-3108	55	86	green	green	ADJ
fbem-3108	55	87	development	development	NOUN
fbem-3108	55	88	strategy	strategy	NOUN
fbem-3108	55	89	if	if	SCONJ
fbem-3108	55	90	it	it	PRON
fbem-3108	55	91	is	be	AUX
fbem-3108	55	92	1	1	NUM
fbem-3108	55	93	,	,	PUNCT
fbem-3108	55	94	otherwise	otherwise	ADV
fbem-3108	55	95	it	it	PRON
fbem-3108	55	96	is	be	AUX
fbem-3108	55	97	0	0	NUM
fbem-3108	55	98	except	except	SCONJ
fbem-3108	55	99	for	for	ADP
fbem-3108	55	100	the	the	DET
fbem-3108	55	101	nature	nature	NOUN
fbem-3108	55	102	of	of	ADP
fbem-3108	55	103	the	the	DET
fbem-3108	55	104	rights	right	NOUN
fbem-3108	55	105	real	real	ADJ
fbem-3108	55	106	estate	estate	NOUN
fbem-3108	55	107	sector	sector	NOUN
fbem-3108	55	108	,	,	PUNCT
fbem-3108	55	109	the	the	DET
fbem-3108	55	110	values	value	NOUN
fbem-3108	55	111	of	of	ADP
fbem-3108	55	112	the	the	DET
fbem-3108	55	113	single	single	ADJ
fbem-3108	55	114	characteristic	characteristic	ADJ
fbem-3108	55	115	variables	variable	NOUN
fbem-3108	55	116	of	of	ADP
fbem-3108	55	117	the	the	DET
fbem-3108	55	118	aforementioned	aforementioned	ADJ
fbem-3108	55	119	issuers	issuer	NOUN
fbem-3108	55	120	are	be	AUX
fbem-3108	55	121	all	all	PRON
fbem-3108	55	122	predetermined	predetermine	VERB
fbem-3108	55	123	with	with	ADP
fbem-3108	55	124	a	a	DET
fbem-3108	55	125	period	period	NOUN
fbem-3108	55	126	in	in	ADP
fbem-3108	55	127	advance	advance	NOUN
fbem-3108	55	128	to	to	PART
fbem-3108	55	129	avoid	avoid	VERB
fbem-3108	55	130	endogenous	endogenous	ADJ
fbem-3108	55	131	problems	problem	NOUN
fbem-3108	55	132	.	.	PUNCT
fbem-3108	56	1	furthermore	furthermore	ADV
fbem-3108	56	2	,	,	PUNCT
fbem-3108	56	3	formula	formula	NOUN
fbem-3108	56	4	(	(	PUNCT
fbem-3108	56	5	1	1	NUM
fbem-3108	56	6	)	)	PUNCT
fbem-3108	56	7	also	also	ADV
fbem-3108	56	8	controls	control	VERB
fbem-3108	56	9	the	the	DET
fbem-3108	56	10	dummy	dummy	ADJ
fbem-3108	56	11	variables	variable	NOUN
fbem-3108	56	12	for	for	ADP
fbem-3108	56	13	the	the	DET
fbem-3108	56	14	industry	industry	NOUN
fbem-3108	56	15	and	and	CCONJ
fbem-3108	56	16	year	year	NOUN
fbem-3108	56	17	.	.	PUNCT
fbem-3108	57	1	this	this	DET
fbem-3108	57	2	article	article	NOUN
fbem-3108	57	3	focuses	focus	VERB
fbem-3108	57	4	on	on	ADP
fbem-3108	57	5	whether	whether	SCONJ
fbem-3108	57	6	the	the	DET
fbem-3108	57	7	coefficients	coefficient	NOUN
fbem-3108	57	8	of	of	ADP
fbem-3108	57	9	the	the	DET
fbem-3108	57	10	individual	individual	ADJ
fbem-3108	57	11	characteristic	characteristic	ADJ
fbem-3108	57	12	variables	variable	NOUN
fbem-3108	57	13	above	above	ADV
fbem-3108	57	14	are	be	AUX
fbem-3108	57	15	statistically	statistically	ADV
fbem-3108	57	16	significant	significant	ADJ
fbem-3108	57	17	.	.	PUNCT
fbem-3108	58	1	to	to	PART
fbem-3108	58	2	examine	examine	VERB
fbem-3108	58	3	the	the	DET
fbem-3108	58	4	impact	impact	NOUN
fbem-3108	58	5	of	of	ADP
fbem-3108	58	6	green	green	ADJ
fbem-3108	58	7	bond	bond	NOUN
fbem-3108	58	8	issuance	issuance	NOUN
fbem-3108	58	9	on	on	ADP
fbem-3108	58	10	postissuance	postissuance	ADJ
fbem-3108	58	11	environmental	environmental	ADJ
fbem-3108	58	12	performance	performance	NOUN
fbem-3108	58	13	and	and	CCONJ
fbem-3108	58	14	to	to	PART
fbem-3108	58	15	test	test	VERB
fbem-3108	58	16	research	research	NOUN
fbem-3108	58	17	hypothesis	hypothesis	NOUN
fbem-3108	58	18	2	2	NUM
fbem-3108	58	19	,	,	PUNCT
fbem-3108	58	20	this	this	DET
fbem-3108	58	21	paper	paper	NOUN
fbem-3108	58	22	uses	use	VERB
fbem-3108	58	23	a	a	DET
fbem-3108	58	24	multi	multi	ADJ
fbem-3108	58	25	-	-	ADJ
fbem-3108	58	26	time	time	NOUN
fbem-3108	58	27	point	point	NOUN
fbem-3108	58	28	did	do	AUX
fbem-3108	58	29	model	model	NOUN
fbem-3108	58	30	for	for	ADP
fbem-3108	58	31	impact	impact	NOUN
fbem-3108	58	32	analysis	analysis	NOUN
fbem-3108	58	33	.	.	PUNCT
fbem-3108	59	1	first	first	ADV
fbem-3108	59	2	,	,	PUNCT
fbem-3108	59	3	psm	psm	ADJ
fbem-3108	59	4	propensity	propensity	NOUN
fbem-3108	59	5	matching	matching	NOUN
fbem-3108	59	6	is	be	AUX
fbem-3108	59	7	performed	perform	VERB
fbem-3108	59	8	on	on	ADP
fbem-3108	59	9	the	the	DET
fbem-3108	59	10	green	green	ADJ
fbem-3108	59	11	bond	bond	NOUN
fbem-3108	59	12	issued	issue	VERB
fbem-3108	59	13	samples	sample	NOUN
fbem-3108	59	14	(	(	PUNCT
fbem-3108	59	15	treatment	treatment	NOUN
fbem-3108	59	16	group	group	NOUN
fbem-3108	59	17	)	)	PUNCT
fbem-3108	59	18	to	to	PART
fbem-3108	59	19	obtain	obtain	VERB
fbem-3108	59	20	the	the	DET
fbem-3108	59	21	control	control	NOUN
fbem-3108	59	22	group	group	NOUN
fbem-3108	59	23	.	.	PUNCT
fbem-3108	60	1	since	since	SCONJ
fbem-3108	60	2	the	the	DET
fbem-3108	60	3	companies	company	NOUN
fbem-3108	60	4	in	in	ADP
fbem-3108	60	5	the	the	DET
fbem-3108	60	6	treatment	treatment	NOUN
fbem-3108	60	7	group	group	NOUN
fbem-3108	60	8	issued	issue	VERB
fbem-3108	60	9	green	green	ADJ
fbem-3108	60	10	bonds	bond	NOUN
fbem-3108	60	11	in	in	ADP
fbem-3108	60	12	different	different	ADJ
fbem-3108	60	13	years	year	NOUN
fbem-3108	60	14	,	,	PUNCT
fbem-3108	60	15	the	the	DET
fbem-3108	60	16	year	year	NOUN
fbem-3108	60	17	in	in	ADP
fbem-3108	60	18	which	which	PRON
fbem-3108	60	19	the	the	DET
fbem-3108	60	20	companies	company	NOUN
fbem-3108	60	21	in	in	ADP
fbem-3108	60	22	each	each	DET
fbem-3108	60	23	treatment	treatment	NOUN
fbem-3108	60	24	group	group	NOUN
fbem-3108	60	25	issued	issue	VERB
fbem-3108	60	26	green	green	ADJ
fbem-3108	60	27	bonds	bond	NOUN
fbem-3108	60	28	was	be	AUX
fbem-3108	60	29	selected	select	VERB
fbem-3108	60	30	as	as	ADP
fbem-3108	60	31	the	the	DET
fbem-3108	60	32	trigger	trigger	NOUN
fbem-3108	60	33	point	point	NOUN
fbem-3108	60	34	for	for	ADP
fbem-3108	60	35	the	the	DET
fbem-3108	60	36	research	research	NOUN
fbem-3108	60	37	green	green	ADJ
fbem-3108	60	38	3	3	NUM
fbem-3108	60	39	bond	bond	NOUN
fbem-3108	60	40	issuance	issuance	NOUN
fbem-3108	60	41	.	.	PUNCT
fbem-3108	61	1	for	for	ADP
fbem-3108	61	2	this	this	DET
fbem-3108	61	3	reason	reason	NOUN
fbem-3108	61	4	,	,	PUNCT
fbem-3108	61	5	this	this	DET
fbem-3108	61	6	article	article	NOUN
fbem-3108	61	7	constructs	construct	VERB
fbem-3108	61	8	two	two	NUM
fbem-3108	61	9	dummy	dummy	ADJ
fbem-3108	61	10	variables	variable	NOUN
fbem-3108	61	11	,	,	PUNCT
fbem-3108	61	12	one	one	NUM
fbem-3108	61	13	is	be	AUX
fbem-3108	61	14	whether	whether	SCONJ
fbem-3108	61	15	it	it	PRON
fbem-3108	61	16	is	be	AUX
fbem-3108	61	17	a	a	DET
fbem-3108	61	18	treatment	treatment	NOUN
fbem-3108	61	19	group	group	NOUN
fbem-3108	61	20	variable	variable	NOUN
fbem-3108	61	21	(	(	PUNCT
fbem-3108	61	22	whether	whether	SCONJ
fbem-3108	61	23	it	it	PRON
fbem-3108	61	24	issued	issue	VERB
fbem-3108	61	25	a	a	DET
fbem-3108	61	26	green	green	ADJ
fbem-3108	61	27	bond	bond	NOUN
fbem-3108	61	28	)	)	PUNCT
fbem-3108	61	29	treat	treat	NOUN
fbem-3108	61	30	,	,	PUNCT
fbem-3108	61	31	i.e.	i.e.	X
fbem-3108	61	32	the	the	DET
fbem-3108	61	33	value	value	NOUN
fbem-3108	61	34	of	of	ADP
fbem-3108	61	35	treat	treat	NOUN
fbem-3108	61	36	is	be	AUX
fbem-3108	61	37	1	1	NUM
fbem-3108	61	38	for	for	ADP
fbem-3108	61	39	companies	company	NOUN
fbem-3108	61	40	issuing	issue	VERB
fbem-3108	61	41	green	green	ADJ
fbem-3108	61	42	bonds	bond	NOUN
fbem-3108	61	43	from	from	ADP
fbem-3108	61	44	2016	2016	NUM
fbem-3108	61	45	to	to	ADP
fbem-3108	61	46	2021	2021	NUM
fbem-3108	61	47	,	,	PUNCT
fbem-3108	61	48	otherwise	otherwise	ADV
fbem-3108	61	49	during	during	ADP
fbem-3108	61	50	this	this	DET
fbem-3108	61	51	period	period	NOUN
fbem-3108	61	52	the	the	DET
fbem-3108	61	53	value	value	NOUN
fbem-3108	61	54	is	be	AUX
fbem-3108	61	55	0	0	NUM
fbem-3108	61	56	for	for	ADP
fbem-3108	61	57	companies	company	NOUN
fbem-3108	61	58	that	that	PRON
fbem-3108	61	59	have	have	AUX
fbem-3108	61	60	issued	issue	VERB
fbem-3108	61	61	only	only	ADJ
fbem-3108	61	62	ordinary	ordinary	ADJ
fbem-3108	61	63	bonds	bond	NOUN
fbem-3108	61	64	;	;	PUNCT
fbem-3108	61	65	the	the	DET
fbem-3108	61	66	second	second	NOUN
fbem-3108	61	67	is	be	AUX
fbem-3108	61	68	the	the	DET
fbem-3108	61	69	dummy	dummy	ADJ
fbem-3108	61	70	variable	variable	ADJ
fbem-3108	61	71	time	time	NOUN
fbem-3108	61	72	of	of	ADP
fbem-3108	61	73	the	the	DET
fbem-3108	61	74	green	green	ADJ
fbem-3108	61	75	bond	bond	NOUN
fbem-3108	61	76	issuance	issuance	NOUN
fbem-3108	61	77	year	year	NOUN
fbem-3108	61	78	,	,	PUNCT
fbem-3108	61	79	i.e.	i.e.	X
fbem-3108	61	80	its	its	PRON
fbem-3108	61	81	value	value	NOUN
fbem-3108	61	82	is	be	AUX
fbem-3108	61	83	1	1	NUM
fbem-3108	61	84	in	in	ADP
fbem-3108	61	85	the	the	DET
fbem-3108	61	86	year	year	NOUN
fbem-3108	61	87	and	and	CCONJ
fbem-3108	61	88	later	later	ADV
fbem-3108	61	89	in	in	ADP
fbem-3108	61	90	which	which	PRON
fbem-3108	61	91	the	the	DET
fbem-3108	61	92	green	green	ADJ
fbem-3108	61	93	bond	bond	NOUN
fbem-3108	61	94	is	be	AUX
fbem-3108	61	95	issued	issue	VERB
fbem-3108	61	96	by	by	ADP
fbem-3108	61	97	the	the	DET
fbem-3108	61	98	treatment	treatment	NOUN
fbem-3108	61	99	group	group	NOUN
fbem-3108	61	100	,	,	PUNCT
fbem-3108	61	101	and	and	CCONJ
fbem-3108	61	102	0	0	NUM
fbem-3108	61	103	otherwise	otherwise	ADV
fbem-3108	61	104	.	.	PUNCT
fbem-3108	62	1	the	the	DET
fbem-3108	62	2	control	control	NOUN
fbem-3108	62	3	group	group	NOUN
fbem-3108	62	4	was	be	AUX
fbem-3108	62	5	treated	treat	VERB
fbem-3108	62	6	in	in	ADP
fbem-3108	62	7	the	the	DET
fbem-3108	62	8	same	same	ADJ
fbem-3108	62	9	way	way	NOUN
fbem-3108	62	10	as	as	ADP
fbem-3108	62	11	the	the	DET
fbem-3108	62	12	treatment	treatment	NOUN
fbem-3108	62	13	group	group	NOUN
fbem-3108	62	14	by	by	ADP
fbem-3108	62	15	matching	match	VERB
fbem-3108	62	16	them	they	PRON
fbem-3108	62	17	.	.	PUNCT
fbem-3108	63	1	the	the	DET
fbem-3108	63	2	multi	multi	ADJ
fbem-3108	63	3	-	-	ADJ
fbem-3108	63	4	time	time	NOUN
fbem-3108	63	5	point	point	NOUN
fbem-3108	63	6	did	do	AUX
fbem-3108	63	7	model	model	NOUN
fbem-3108	63	8	is	be	AUX
fbem-3108	63	9	as	as	SCONJ
fbem-3108	63	10	follows	follow	VERB
fbem-3108	63	11	:	:	PUNCT
fbem-3108	63	12	epi	epi	PROPN
fbem-3108	63	13	,	,	PUNCT
fbem-3108	63	14	t	t	PROPN
fbem-3108	63	15	=	=	SYM
fbem-3108	63	16	α0+α1treati*timei	α0+α1treati*timei	PROPN
fbem-3108	63	17	,	,	PUNCT
fbem-3108	63	18	t+α2treati+α3timei	t+α2treati+α3timei	PROPN
fbem-3108	63	19	,	,	PUNCT
fbem-3108	63	20	t+α4control	t+α4control	VERB
fbem-3108	63	21	variablesi	variablesi	NOUN
fbem-3108	63	22	,	,	PUNCT
fbem-3108	63	23	t+ɛi	t+ɛi	NOUN
fbem-3108	63	24	,	,	PUNCT
fbem-3108	63	25	t	t	PROPN
fbem-3108	63	26	(	(	PUNCT
fbem-3108	63	27	2	2	NUM
fbem-3108	63	28	)	)	PUNCT
fbem-3108	63	29	dependent	dependent	ADJ
fbem-3108	63	30	variable	variable	NOUN
fbem-3108	63	31	ep	ep	PROPN
fbem-3108	63	32	is	be	AUX
fbem-3108	63	33	the	the	DET
fbem-3108	63	34	company	company	NOUN
fbem-3108	63	35	's	's	PART
fbem-3108	63	36	environmental	environmental	ADJ
fbem-3108	63	37	performance	performance	NOUN
fbem-3108	63	38	.	.	PUNCT
fbem-3108	64	1	given	give	VERB
fbem-3108	64	2	the	the	DET
fbem-3108	64	3	availability	availability	NOUN
fbem-3108	64	4	of	of	ADP
fbem-3108	64	5	data	datum	NOUN
fbem-3108	64	6	,	,	PUNCT
fbem-3108	64	7	this	this	DET
fbem-3108	64	8	paper	paper	NOUN
fbem-3108	64	9	uses	use	VERB
fbem-3108	64	10	the	the	DET
fbem-3108	64	11	company	company	NOUN
fbem-3108	64	12	's	's	PART
fbem-3108	64	13	disclosure	disclosure	NOUN
fbem-3108	64	14	in	in	ADP
fbem-3108	64	15	the	the	DET
fbem-3108	64	16	csmar	csmar	PROPN
fbem-3108	64	17	database	database	NOUN
fbem-3108	64	18	of	of	ADP
fbem-3108	64	19	whether	whether	SCONJ
fbem-3108	64	20	it	it	PRON
fbem-3108	64	21	received	receive	VERB
fbem-3108	64	22	any	any	DET
fbem-3108	64	23	environmental	environmental	ADJ
fbem-3108	64	24	awards	award	NOUN
fbem-3108	64	25	or	or	CCONJ
fbem-3108	64	26	honors	honor	NOUN
fbem-3108	64	27	during	during	ADP
fbem-3108	64	28	the	the	DET
fbem-3108	64	29	year	year	NOUN
fbem-3108	64	30	as	as	ADP
fbem-3108	64	31	a	a	DET
fbem-3108	64	32	proxy	proxy	NOUN
fbem-3108	64	33	for	for	ADP
fbem-3108	64	34	environmental	environmental	ADJ
fbem-3108	64	35	performance	performance	NOUN
fbem-3108	64	36	.	.	PUNCT
fbem-3108	65	1	tre	tre	PROPN
fbem-3108	65	2	at	at	ADP
fbem-3108	65	3	is	be	AUX
fbem-3108	65	4	the	the	DET
fbem-3108	65	5	dummy	dummy	ADJ
fbem-3108	65	6	variable	variable	NOUN
fbem-3108	65	7	for	for	ADP
fbem-3108	65	8	the	the	DET
fbem-3108	65	9	treatment	treatment	NOUN
fbem-3108	65	10	group	group	NOUN
fbem-3108	65	11	and	and	CCONJ
fbem-3108	65	12	time	time	NOUN
fbem-3108	65	13	is	be	AUX
fbem-3108	65	14	the	the	DET
fbem-3108	65	15	dummy	dummy	ADJ
fbem-3108	65	16	variable	variable	NOUN
fbem-3108	65	17	for	for	ADP
fbem-3108	65	18	the	the	DET
fbem-3108	65	19	year	year	NOUN
fbem-3108	65	20	the	the	DET
fbem-3108	65	21	green	green	ADJ
fbem-3108	65	22	bonds	bond	NOUN
fbem-3108	65	23	were	be	AUX
fbem-3108	65	24	issued	issue	VERB
fbem-3108	65	25	.	.	PUNCT
fbem-3108	66	1	control	control	NOUN
fbem-3108	66	2	variables	variable	NOUN
fbem-3108	66	3	are	be	AUX
fbem-3108	66	4	control	control	NOUN
fbem-3108	66	5	variables	variable	NOUN
fbem-3108	66	6	at	at	ADP
fbem-3108	66	7	the	the	DET
fbem-3108	66	8	individual	individual	ADJ
fbem-3108	66	9	level	level	NOUN
fbem-3108	66	10	of	of	ADP
fbem-3108	66	11	the	the	DET
fbem-3108	66	12	organization	organization	NOUN
fbem-3108	66	13	.	.	PUNCT
fbem-3108	67	1	this	this	DET
fbem-3108	67	2	article	article	NOUN
fbem-3108	67	3	focuses	focus	VERB
fbem-3108	67	4	on	on	ADP
fbem-3108	67	5	the	the	DET
fbem-3108	67	6	question	question	NOUN
fbem-3108	67	7	whether	whether	SCONJ
fbem-3108	67	8	the	the	DET
fbem-3108	67	9	interaction	interaction	NOUN
fbem-3108	67	10	coefficient	coefficient	VERB
fbem-3108	67	11	α	α	NOUN
fbem-3108	67	12	1	1	NUM
fbem-3108	67	13	of	of	ADP
fbem-3108	67	14	treat	treat	NOUN
fbem-3108	67	15	and	and	CCONJ
fbem-3108	67	16	time	time	NOUN
fbem-3108	67	17	is	be	AUX
fbem-3108	67	18	significant	significant	ADJ
fbem-3108	67	19	in	in	ADP
fbem-3108	67	20	assessing	assess	VERB
fbem-3108	67	21	the	the	DET
fbem-3108	67	22	impact	impact	NOUN
fbem-3108	67	23	on	on	ADP
fbem-3108	67	24	environmental	environmental	ADJ
fbem-3108	67	25	performance	performance	NOUN
fbem-3108	67	26	of	of	ADP
fbem-3108	67	27	green	green	ADJ
fbem-3108	67	28	bond	bond	NOUN
fbem-3108	67	29	issuance	issuance	NOUN
fbem-3108	67	30	.	.	PUNCT
fbem-3108	68	1	4.2	4.2	NUM
fbem-3108	68	2	.	.	PUNCT
fbem-3108	68	3	samples	sample	NOUN
fbem-3108	68	4	and	and	CCONJ
fbem-3108	68	5	data	datum	NOUN
fbem-3108	68	6	sources	source	NOUN
fbem-3108	68	7	the	the	DET
fbem-3108	68	8	chinese	chinese	ADJ
fbem-3108	68	9	green	green	ADJ
fbem-3108	68	10	bond	bond	NOUN
fbem-3108	68	11	market	market	NOUN
fbem-3108	68	12	was	be	AUX
fbem-3108	68	13	launched	launch	VERB
fbem-3108	68	14	in	in	ADP
fbem-3108	68	15	2016	2016	NUM
fbem-3108	68	16	,	,	PUNCT
fbem-3108	68	17	so	so	CCONJ
fbem-3108	68	18	the	the	DET
fbem-3108	68	19	first	first	ADJ
fbem-3108	68	20	research	research	NOUN
fbem-3108	68	21	sample	sample	NOUN
fbem-3108	68	22	period	period	NOUN
fbem-3108	68	23	is	be	AUX
fbem-3108	68	24	from	from	ADP
fbem-3108	68	25	2016	2016	NUM
fbem-3108	68	26	to	to	ADP
fbem-3108	68	27	2021	2021	NUM
fbem-3108	68	28	.	.	PUNCT
fbem-3108	69	1	in	in	ADP
fbem-3108	69	2	order	order	NOUN
fbem-3108	69	3	to	to	PART
fbem-3108	69	4	make	make	VERB
fbem-3108	69	5	the	the	DET
fbem-3108	69	6	comparison	comparison	NOUN
fbem-3108	69	7	between	between	ADP
fbem-3108	69	8	green	green	ADJ
fbem-3108	69	9	bonds	bond	NOUN
fbem-3108	69	10	and	and	CCONJ
fbem-3108	69	11	ordinary	ordinary	ADJ
fbem-3108	69	12	bonds	bond	NOUN
fbem-3108	69	13	comparable	comparable	ADJ
fbem-3108	69	14	and	and	CCONJ
fbem-3108	69	15	to	to	PART
fbem-3108	69	16	obtain	obtain	VERB
fbem-3108	69	17	the	the	DET
fbem-3108	69	18	data	datum	NOUN
fbem-3108	69	19	from	from	ADP
fbem-3108	69	20	listed	list	VERB
fbem-3108	69	21	companies	company	NOUN
fbem-3108	69	22	,	,	PUNCT
fbem-3108	69	23	this	this	DET
fbem-3108	69	24	paper	paper	NOUN
fbem-3108	69	25	narrows	narrow	VERB
fbem-3108	69	26	the	the	DET
fbem-3108	69	27	sample	sample	NOUN
fbem-3108	69	28	to	to	ADP
fbem-3108	69	29	non	non	ADJ
fbem-3108	69	30	-	-	ADJ
fbem-3108	69	31	listed	listed	ADJ
fbem-3108	69	32	financial	financial	ADJ
fbem-3108	69	33	companies	company	NOUN
fbem-3108	69	34	that	that	PRON
fbem-3108	69	35	issued	issue	VERB
fbem-3108	69	36	corporate	corporate	ADJ
fbem-3108	69	37	bonds	bond	NOUN
fbem-3108	69	38	,	,	PUNCT
fbem-3108	69	39	corporate	corporate	ADJ
fbem-3108	69	40	bonds	bond	NOUN
fbem-3108	69	41	and	and	CCONJ
fbem-3108	69	42	medium	medium	ADJ
fbem-3108	69	43	-	-	PUNCT
fbem-3108	69	44	term	term	NOUN
fbem-3108	69	45	bonds	bond	NOUN
fbem-3108	69	46	from	from	ADP
fbem-3108	69	47	2016	2016	NUM
fbem-3108	69	48	to	to	ADP
fbem-3108	69	49	2021	2021	NUM
fbem-3108	69	50	.	.	PUNCT
fbem-3108	70	1	if	if	SCONJ
fbem-3108	70	2	a	a	DET
fbem-3108	70	3	company	company	NOUN
fbem-3108	70	4	issues	issue	VERB
fbem-3108	70	5	multiple	multiple	ADJ
fbem-3108	70	6	green	green	ADJ
fbem-3108	70	7	bonds	bond	NOUN
fbem-3108	70	8	and	and	CCONJ
fbem-3108	70	9	common	common	ADJ
fbem-3108	70	10	bonds	bond	NOUN
fbem-3108	70	11	in	in	ADP
fbem-3108	70	12	a	a	DET
fbem-3108	70	13	given	give	VERB
fbem-3108	70	14	year	year	NOUN
fbem-3108	70	15	,	,	PUNCT
fbem-3108	70	16	only	only	ADV
fbem-3108	70	17	the	the	DET
fbem-3108	70	18	first	first	ADJ
fbem-3108	70	19	green	green	ADJ
fbem-3108	70	20	bond	bond	NOUN
fbem-3108	70	21	record	record	NOUN
fbem-3108	70	22	is	be	AUX
fbem-3108	70	23	kept	keep	VERB
fbem-3108	70	24	;	;	PUNCT
fbem-3108	70	25	if	if	SCONJ
fbem-3108	70	26	multiple	multiple	ADJ
fbem-3108	70	27	common	common	ADJ
fbem-3108	70	28	bonds	bond	NOUN
fbem-3108	70	29	are	be	AUX
fbem-3108	70	30	issued	issue	VERB
fbem-3108	70	31	in	in	ADP
fbem-3108	70	32	a	a	DET
fbem-3108	70	33	given	give	VERB
fbem-3108	70	34	year	year	NOUN
fbem-3108	70	35	,	,	PUNCT
fbem-3108	70	36	only	only	ADV
fbem-3108	70	37	one	one	NUM
fbem-3108	70	38	common	common	ADJ
fbem-3108	70	39	bond	bond	NOUN
fbem-3108	70	40	register	register	NOUN
fbem-3108	70	41	is	be	AUX
fbem-3108	70	42	maintained	maintain	VERB
fbem-3108	70	43	.	.	PUNCT
fbem-3108	71	1	ultimately	ultimately	ADV
fbem-3108	71	2	,	,	PUNCT
fbem-3108	71	3	this	this	DET
fbem-3108	71	4	paper	paper	NOUN
fbem-3108	71	5	obtained	obtain	VERB
fbem-3108	71	6	a	a	DET
fbem-3108	71	7	total	total	NOUN
fbem-3108	71	8	of	of	ADP
fbem-3108	71	9	582	582	NUM
fbem-3108	71	10	corporate	corporate	ADJ
fbem-3108	71	11	bond	bond	NOUN
fbem-3108	71	12	issuance	issuance	NOUN
fbem-3108	71	13	records	record	NOUN
fbem-3108	71	14	from	from	ADP
fbem-3108	71	15	2016	2016	NUM
fbem-3108	71	16	to	to	ADP
fbem-3108	71	17	2021	2021	NUM
fbem-3108	71	18	,	,	PUNCT
fbem-3108	71	19	including	include	VERB
fbem-3108	71	20	39	39	NUM
fbem-3108	71	21	companies	company	NOUN
fbem-3108	71	22	that	that	PRON
fbem-3108	71	23	issued	issue	VERB
fbem-3108	71	24	green	green	ADJ
fbem-3108	71	25	bonds	bond	NOUN
fbem-3108	71	26	and	and	CCONJ
fbem-3108	71	27	543	543	NUM
fbem-3108	71	28	companies	company	NOUN
fbem-3108	71	29	that	that	PRON
fbem-3108	71	30	issued	issue	VERB
fbem-3108	71	31	common	common	ADJ
fbem-3108	71	32	bonds	bond	NOUN
fbem-3108	71	33	,	,	PUNCT
fbem-3108	71	34	which	which	PRON
fbem-3108	71	35	together	together	ADV
fbem-3108	71	36	form	form	VERB
fbem-3108	71	37	an	an	DET
fbem-3108	71	38	analysis	analysis	NOUN
fbem-3108	71	39	of	of	ADP
fbem-3108	71	40	the	the	DET
fbem-3108	71	41	characteristics	characteristic	NOUN
fbem-3108	71	42	of	of	ADP
fbem-3108	71	43	green	green	ADJ
fbem-3108	71	44	bond	bond	NOUN
fbem-3108	71	45	issuers	issuer	NOUN
fbem-3108	71	46	.	.	PUNCT
fbem-3108	72	1	green	green	ADJ
fbem-3108	72	2	bonds	bond	NOUN
fbem-3108	72	3	.	.	PUNCT
fbem-3108	73	1	of	of	ADP
fbem-3108	73	2	samples	sample	NOUN
fbem-3108	73	3	.	.	PUNCT
fbem-3108	74	1	to	to	PART
fbem-3108	74	2	overcome	overcome	VERB
fbem-3108	74	3	endogenous	endogenous	ADJ
fbem-3108	74	4	problems	problem	NOUN
fbem-3108	74	5	,	,	PUNCT
fbem-3108	74	6	the	the	DET
fbem-3108	74	7	study	study	NOUN
fbem-3108	74	8	use	use	VERB
fbem-3108	74	9	psm	psm	NOUN
fbem-3108	74	10	to	to	PART
fbem-3108	74	11	match	match	VERB
fbem-3108	74	12	the	the	DET
fbem-3108	74	13	companies	company	NOUN
fbem-3108	74	14	that	that	PRON
fbem-3108	74	15	issue	issue	VERB
fbem-3108	74	16	green	green	ADJ
fbem-3108	74	17	bonds	bond	NOUN
fbem-3108	74	18	and	and	CCONJ
fbem-3108	74	19	those	those	DET
fbem-3108	74	20	issue	issue	NOUN
fbem-3108	74	21	ordinary	ordinary	ADJ
fbem-3108	74	22	bonds	bond	NOUN
fbem-3108	74	23	.	.	PUNCT
fbem-3108	75	1	the	the	DET
fbem-3108	75	2	matching	matching	NOUN
fbem-3108	75	3	process	process	NOUN
fbem-3108	75	4	of	of	ADP
fbem-3108	75	5	the	the	DET
fbem-3108	75	6	specific	specific	ADJ
fbem-3108	75	7	control	control	NOUN
fbem-3108	75	8	group	group	NOUN
fbem-3108	75	9	is	be	AUX
fbem-3108	75	10	as	as	SCONJ
fbem-3108	75	11	follows	follow	VERB
fbem-3108	75	12	:	:	PUNCT
fbem-3108	75	13	(	(	PUNCT
fbem-3108	75	14	1	1	X
fbem-3108	75	15	)	)	PUNCT
fbem-3108	75	16	listed	list	VERB
fbem-3108	75	17	companies	company	NOUN
fbem-3108	75	18	that	that	PRON
fbem-3108	75	19	have	have	AUX
fbem-3108	75	20	issued	issue	VERB
fbem-3108	75	21	ordinary	ordinary	ADJ
fbem-3108	75	22	bonds	bond	NOUN
fbem-3108	75	23	instead	instead	ADV
fbem-3108	75	24	of	of	ADP
fbem-3108	75	25	green	green	ADJ
fbem-3108	75	26	bonds	bond	NOUN
fbem-3108	75	27	;	;	PUNCT
fbem-3108	75	28	(	(	PUNCT
fbem-3108	75	29	2	2	X
fbem-3108	75	30	)	)	PUNCT
fbem-3108	75	31	companies	company	NOUN
fbem-3108	75	32	in	in	ADP
fbem-3108	75	33	the	the	DET
fbem-3108	75	34	same	same	ADJ
fbem-3108	75	35	industry	industry	NOUN
fbem-3108	75	36	as	as	ADP
fbem-3108	75	37	the	the	DET
fbem-3108	75	38	treatment	treatment	NOUN
fbem-3108	75	39	group	group	NOUN
fbem-3108	75	40	companies	company	NOUN
fbem-3108	75	41	and	and	CCONJ
fbem-3108	75	42	the	the	DET
fbem-3108	75	43	year	year	NOUN
fbem-3108	75	44	they	they	PRON
fbem-3108	75	45	issued	issue	VERB
fbem-3108	75	46	ordinary	ordinary	ADJ
fbem-3108	75	47	bonds	bond	NOUN
fbem-3108	75	48	is	be	AUX
fbem-3108	75	49	the	the	DET
fbem-3108	75	50	same	same	ADJ
fbem-3108	75	51	as	as	ADP
fbem-3108	75	52	the	the	DET
fbem-3108	75	53	year	year	NOUN
fbem-3108	75	54	the	the	DET
fbem-3108	75	55	treatment	treatment	NOUN
fbem-3108	75	56	group	group	NOUN
fbem-3108	75	57	issued	issue	VERB
fbem-3108	75	58	green	green	ADJ
fbem-3108	75	59	bonds	bond	NOUN
fbem-3108	75	60	;	;	PUNCT
fbem-3108	75	61	(	(	PUNCT
fbem-3108	75	62	3	3	X
fbem-3108	75	63	)	)	PUNCT
fbem-3108	75	64	according	accord	VERB
fbem-3108	75	65	to	to	ADP
fbem-3108	75	66	flammer	flammer	NOUN
fbem-3108	75	67	(	(	PUNCT
fbem-3108	75	68	2021	2021	NUM
fbem-3108	75	69	)	)	PUNCT
fbem-3108	75	70	,	,	PUNCT
fbem-3108	75	71	setting	set	VERB
fbem-3108	75	72	covariates	covariate	NOUN
fbem-3108	75	73	at	at	ADP
fbem-3108	75	74	the	the	DET
fbem-3108	75	75	individual	individual	ADJ
fbem-3108	75	76	firm	firm	ADJ
fbem-3108	75	77	level	level	NOUN
fbem-3108	75	78	such	such	ADJ
fbem-3108	75	79	as	as	ADP
fbem-3108	75	80	firm	firm	ADJ
fbem-3108	75	81	size	size	NOUN
fbem-3108	75	82	,	,	PUNCT
fbem-3108	75	83	tobin	tobin	PROPN
fbem-3108	75	84	's	's	PART
fbem-3108	75	85	q	q	NOUN
fbem-3108	75	86	-	-	PUNCT
fbem-3108	75	87	value	value	NOUN
fbem-3108	75	88	,	,	PUNCT
fbem-3108	75	89	return	return	VERB
fbem-3108	75	90	on	on	ADP
fbem-3108	75	91	total	total	ADJ
fbem-3108	75	92	assets	asset	NOUN
fbem-3108	75	93	,	,	PUNCT
fbem-3108	75	94	assetto	assetto	ADJ
fbem-3108	75	95	-	-	PUNCT
fbem-3108	75	96	liability	liability	NOUN
fbem-3108	75	97	ratio	ratio	NOUN
fbem-3108	75	98	,	,	PUNCT
fbem-3108	75	99	firm	firm	NOUN
fbem-3108	75	100	's	's	PART
fbem-3108	75	101	esg	esg	NOUN
fbem-3108	75	102	rating	rating	NOUN
fbem-3108	75	103	,	,	PUNCT
fbem-3108	75	104	etc	etc	X
fbem-3108	75	105	.	.	X
fbem-3108	75	106	.	.	PUNCT
fbem-3108	75	107	,	,	PUNCT
fbem-3108	75	108	and	and	CCONJ
fbem-3108	75	109	the	the	DET
fbem-3108	75	110	values	value	NOUN
fbem-3108	75	111	of	of	ADP
fbem-3108	75	112	the	the	DET
fbem-3108	75	113	above	above	ADJ
fbem-3108	75	114	variables	variable	NOUN
fbem-3108	75	115	are	be	AUX
fbem-3108	75	116	all	all	PRON
fbem-3108	75	117	are	be	AUX
fbem-3108	75	118	the	the	DET
fbem-3108	75	119	values	value	NOUN
fbem-3108	75	120	of	of	ADP
fbem-3108	75	121	the	the	DET
fbem-3108	75	122	previous	previous	ADJ
fbem-3108	75	123	number	number	NOUN
fbem-3108	75	124	.	.	PUNCT
fbem-3108	76	1	by	by	ADP
fbem-3108	76	2	means	mean	NOUN
fbem-3108	76	3	of	of	ADP
fbem-3108	76	4	the	the	DET
fbem-3108	76	5	psm	psm	NOUN
fbem-3108	76	6	matching	match	VERB
fbem-3108	76	7	above	above	ADV
fbem-3108	76	8	,	,	PUNCT
fbem-3108	76	9	the	the	DET
fbem-3108	76	10	business	business	NOUN
fbem-3108	76	11	year	year	NOUN
fbem-3108	76	12	records	record	NOUN
fbem-3108	76	13	of	of	ADP
fbem-3108	76	14	the	the	DET
fbem-3108	76	15	treatment	treatment	NOUN
fbem-3108	76	16	group	group	NOUN
fbem-3108	76	17	and	and	CCONJ
fbem-3108	76	18	control	control	NOUN
fbem-3108	76	19	group	group	NOUN
fbem-3108	76	20	in	in	ADP
fbem-3108	76	21	the	the	DET
fbem-3108	76	22	period	period	NOUN
fbem-3108	76	23	before	before	ADV
fbem-3108	76	24	and	and	CCONJ
fbem-3108	76	25	after	after	ADP
fbem-3108	76	26	the	the	DET
fbem-3108	76	27	release	release	NOUN
fbem-3108	76	28	year	year	NOUN
fbem-3108	76	29	are	be	AUX
fbem-3108	76	30	further	far	ADV
fbem-3108	76	31	processed	process	VERB
fbem-3108	76	32	in	in	ADP
fbem-3108	76	33	the	the	DET
fbem-3108	76	34	sample	sample	NOUN
fbem-3108	76	35	,	,	PUNCT
fbem-3108	76	36	and	and	CCONJ
fbem-3108	76	37	finally	finally	ADV
fbem-3108	76	38	160	160	NUM
fbem-3108	76	39	samples	sample	NOUN
fbem-3108	76	40	of	of	ADP
fbem-3108	76	41	business	business	NOUN
fbem-3108	76	42	years	year	NOUN
fbem-3108	76	43	are	be	AUX
fbem-3108	76	44	obtained	obtain	VERB
fbem-3108	76	45	.	.	PUNCT
fbem-3108	77	1	bond	bond	NOUN
fbem-3108	77	2	issue	issue	NOUN
fbem-3108	77	3	data	datum	NOUN
fbem-3108	77	4	and	and	CCONJ
fbem-3108	77	5	esg	esg	NOUN
fbem-3108	77	6	data	datum	NOUN
fbem-3108	77	7	of	of	ADP
fbem-3108	77	8	listed	list	VERB
fbem-3108	77	9	companies	company	NOUN
fbem-3108	77	10	in	in	ADP
fbem-3108	77	11	this	this	DET
fbem-3108	77	12	document	document	NOUN
fbem-3108	77	13	are	be	AUX
fbem-3108	77	14	sourced	source	VERB
fbem-3108	77	15	from	from	ADP
fbem-3108	77	16	wind	wind	NOUN
fbem-3108	77	17	database	database	NOUN
fbem-3108	77	18	,	,	PUNCT
fbem-3108	77	19	financial	financial	ADJ
fbem-3108	77	20	data	datum	NOUN
fbem-3108	77	21	,	,	PUNCT
fbem-3108	77	22	industry	industry	NOUN
fbem-3108	77	23	classification	classification	NOUN
fbem-3108	77	24	data	datum	NOUN
fbem-3108	77	25	and	and	CCONJ
fbem-3108	77	26	ownership	ownership	NOUN
fbem-3108	77	27	data	datum	NOUN
fbem-3108	77	28	are	be	AUX
fbem-3108	77	29	sourced	source	VERB
fbem-3108	77	30	from	from	ADP
fbem-3108	77	31	wind	wind	NOUN
fbem-3108	77	32	database	database	NOUN
fbem-3108	77	33	.	.	PUNCT
fbem-3108	78	1	company	company	NOUN
fbem-3108	78	2	's	's	PART
fbem-3108	78	3	green	green	PROPN
fbem-3108	78	4	development	development	PROPN
fbem-3108	78	5	strategy	strategy	NOUN
fbem-3108	78	6	data	datum	NOUN
fbem-3108	78	7	comes	come	VERB
fbem-3108	78	8	from	from	ADP
fbem-3108	78	9	analyzing	analyze	VERB
fbem-3108	78	10	the	the	DET
fbem-3108	78	11	annual	annual	ADJ
fbem-3108	78	12	report	report	NOUN
fbem-3108	78	13	text	text	NOUN
fbem-3108	78	14	of	of	ADP
fbem-3108	78	15	listed	list	VERB
fbem-3108	78	16	companies	company	NOUN
fbem-3108	78	17	with	with	ADP
fbem-3108	78	18	python	python	PROPN
fbem-3108	78	19	.	.	PUNCT
fbem-3108	79	1	5	5	NUM
fbem-3108	79	2	.	.	PUNCT
fbem-3108	79	3	empirical	empirical	ADJ
fbem-3108	79	4	results	result	NOUN
fbem-3108	79	5	and	and	CCONJ
fbem-3108	79	6	analysis	analysis	NOUN
fbem-3108	79	7	5.1	5.1	NUM
fbem-3108	79	8	.	.	PUNCT
fbem-3108	80	1	descriptive	descriptive	ADJ
fbem-3108	80	2	statistics	statistic	NOUN
fbem-3108	80	3	table	table	NOUN
fbem-3108	80	4	1	1	NUM
fbem-3108	80	5	presents	present	VERB
fbem-3108	80	6	the	the	DET
fbem-3108	80	7	descriptive	descriptive	ADJ
fbem-3108	80	8	statistics	statistic	NOUN
fbem-3108	80	9	of	of	ADP
fbem-3108	80	10	the	the	DET
fbem-3108	80	11	total	total	ADJ
fbem-3108	80	12	sample	sample	NOUN
fbem-3108	80	13	.	.	PUNCT
fbem-3108	81	1	considering	consider	VERB
fbem-3108	81	2	that	that	SCONJ
fbem-3108	81	3	some	some	DET
fbem-3108	81	4	companies	company	NOUN
fbem-3108	81	5	have	have	AUX
fbem-3108	81	6	issued	issue	VERB
fbem-3108	81	7	bonds	bond	NOUN
fbem-3108	81	8	repeatedly	repeatedly	ADV
fbem-3108	81	9	,	,	PUNCT
fbem-3108	81	10	this	this	DET
fbem-3108	81	11	paper	paper	NOUN
fbem-3108	81	12	selects	select	VERB
fbem-3108	81	13	only	only	ADV
fbem-3108	81	14	non	non	ADJ
fbem-3108	81	15	-	-	ADJ
fbem-3108	81	16	financial	financial	ADJ
fbem-3108	81	17	companies	company	NOUN
fbem-3108	81	18	that	that	PRON
fbem-3108	81	19	issued	issue	VERB
fbem-3108	81	20	ordinary	ordinary	ADJ
fbem-3108	81	21	bonds	bond	NOUN
fbem-3108	81	22	or	or	CCONJ
fbem-3108	81	23	green	green	ADJ
fbem-3108	81	24	bonds	bond	NOUN
fbem-3108	81	25	for	for	ADP
fbem-3108	81	26	the	the	DET
fbem-3108	81	27	first	first	ADJ
fbem-3108	81	28	time	time	NOUN
fbem-3108	81	29	this	this	DET
fbem-3108	81	30	year	year	NOUN
fbem-3108	81	31	-	-	PUNCT
fbem-3108	81	32	year	year	NOUN
fbem-3108	81	33	as	as	ADP
fbem-3108	81	34	the	the	DET
fbem-3108	81	35	first	first	ADJ
fbem-3108	81	36	sample	sample	NOUN
fbem-3108	81	37	.	.	PUNCT
fbem-3108	82	1	from	from	ADP
fbem-3108	82	2	2016	2016	NUM
fbem-3108	82	3	to	to	ADP
fbem-3108	82	4	2021	2021	NUM
fbem-3108	82	5	,	,	PUNCT
fbem-3108	82	6	a	a	DET
fbem-3108	82	7	total	total	NOUN
fbem-3108	82	8	of	of	ADP
fbem-3108	82	9	39	39	NUM
fbem-3108	82	10	non	non	ADJ
fbem-3108	82	11	-	-	ADJ
fbem-3108	82	12	financial	financial	ADJ
fbem-3108	82	13	companies	company	NOUN
fbem-3108	82	14	issued	issue	VERB
fbem-3108	82	15	green	green	ADJ
fbem-3108	82	16	bonds	bond	NOUN
fbem-3108	82	17	(	(	PUNCT
fbem-3108	82	18	excluding	exclude	VERB
fbem-3108	82	19	samples	sample	NOUN
fbem-3108	82	20	that	that	PRON
fbem-3108	82	21	were	be	AUX
fbem-3108	82	22	issued	issue	VERB
fbem-3108	82	23	multiple	multiple	ADJ
fbem-3108	82	24	times	time	NOUN
fbem-3108	82	25	in	in	ADP
fbem-3108	82	26	a	a	DET
fbem-3108	82	27	given	give	VERB
fbem-3108	82	28	year	year	NOUN
fbem-3108	82	29	)	)	PUNCT
fbem-3108	82	30	.	.	PUNCT
fbem-3108	83	1	543	543	NUM
fbem-3108	83	2	companies	company	NOUN
fbem-3108	83	3	only	only	ADV
fbem-3108	83	4	issued	issue	VERB
fbem-3108	83	5	ordinary	ordinary	ADJ
fbem-3108	83	6	bonds	bond	NOUN
fbem-3108	83	7	(	(	PUNCT
fbem-3108	83	8	without	without	ADP
fbem-3108	83	9	models	model	NOUN
fbem-3108	83	10	that	that	PRON
fbem-3108	83	11	were	be	AUX
fbem-3108	83	12	issued	issue	VERB
fbem-3108	83	13	several	several	ADJ
fbem-3108	83	14	times	time	NOUN
fbem-3108	83	15	in	in	ADP
fbem-3108	83	16	a	a	DET
fbem-3108	83	17	given	give	VERB
fbem-3108	83	18	year	year	NOUN
fbem-3108	83	19	)	)	PUNCT
fbem-3108	83	20	but	but	CCONJ
fbem-3108	83	21	did	do	AUX
fbem-3108	83	22	not	not	PART
fbem-3108	83	23	issue	issue	VERB
fbem-3108	83	24	any	any	DET
fbem-3108	83	25	green	green	ADJ
fbem-3108	83	26	bonds	bond	NOUN
fbem-3108	83	27	.	.	PUNCT
fbem-3108	84	1	in	in	ADP
fbem-3108	84	2	this	this	DET
fbem-3108	84	3	article	article	NOUN
fbem-3108	84	4	,	,	PUNCT
fbem-3108	84	5	samples	sample	NOUN
fbem-3108	84	6	of	of	ADP
fbem-3108	84	7	companies	company	NOUN
fbem-3108	84	8	issuing	issue	VERB
fbem-3108	84	9	only	only	ADV
fbem-3108	84	10	regular	regular	ADJ
fbem-3108	84	11	bonds	bond	NOUN
fbem-3108	84	12	are	be	AUX
fbem-3108	84	13	used	use	VERB
fbem-3108	84	14	as	as	ADP
fbem-3108	84	15	a	a	DET
fbem-3108	84	16	control	control	NOUN
fbem-3108	84	17	group	group	NOUN
fbem-3108	84	18	and	and	CCONJ
fbem-3108	84	19	companies	company	NOUN
fbem-3108	84	20	issuing	issue	VERB
fbem-3108	84	21	green	green	ADJ
fbem-3108	84	22	bonds	bond	NOUN
fbem-3108	84	23	are	be	AUX
fbem-3108	84	24	used	use	VERB
fbem-3108	84	25	as	as	ADP
fbem-3108	84	26	a	a	DET
fbem-3108	84	27	treatment	treatment	NOUN
fbem-3108	84	28	group	group	NOUN
fbem-3108	84	29	to	to	PART
fbem-3108	84	30	compare	compare	VERB
fbem-3108	84	31	the	the	DET
fbem-3108	84	32	differences	difference	NOUN
fbem-3108	84	33	between	between	ADP
fbem-3108	84	34	the	the	DET
fbem-3108	84	35	two	two	NUM
fbem-3108	84	36	as	as	ADP
fbem-3108	84	37	a	a	DET
fbem-3108	84	38	whole	whole	NOUN
fbem-3108	84	39	.	.	PUNCT
fbem-3108	85	1	table	table	NOUN
fbem-3108	85	2	1	1	NUM
fbem-3108	85	3	shows	show	VERB
fbem-3108	85	4	that	that	SCONJ
fbem-3108	85	5	there	there	PRON
fbem-3108	85	6	are	be	VERB
fbem-3108	85	7	significant	significant	ADJ
fbem-3108	85	8	differences	difference	NOUN
fbem-3108	85	9	between	between	ADP
fbem-3108	85	10	the	the	DET
fbem-3108	85	11	control	control	NOUN
fbem-3108	85	12	group	group	NOUN
fbem-3108	85	13	and	and	CCONJ
fbem-3108	85	14	the	the	DET
fbem-3108	85	15	treatment	treatment	NOUN
fbem-3108	85	16	group	group	NOUN
fbem-3108	85	17	,	,	PUNCT
fbem-3108	85	18	mainly	mainly	ADV
fbem-3108	85	19	in	in	ADP
fbem-3108	85	20	the	the	DET
fbem-3108	85	21	return	return	NOUN
fbem-3108	85	22	on	on	ADP
fbem-3108	85	23	net	net	ADJ
fbem-3108	85	24	assets	asset	NOUN
fbem-3108	85	25	(	(	PUNCT
fbem-3108	85	26	roa	roa	PROPN
fbem-3108	85	27	)	)	PUNCT
fbem-3108	85	28	,	,	PUNCT
fbem-3108	85	29	the	the	DET
fbem-3108	85	30	ratio	ratio	NOUN
fbem-3108	85	31	of	of	ADP
fbem-3108	85	32	assets	asset	NOUN
fbem-3108	85	33	to	to	ADP
fbem-3108	85	34	liabilities	liability	NOUN
fbem-3108	85	35	(	(	PUNCT
fbem-3108	85	36	lev	lev	NOUN
fbem-3108	85	37	)	)	PUNCT
fbem-3108	85	38	and	and	CCONJ
fbem-3108	85	39	the	the	DET
fbem-3108	85	40	company	company	NOUN
fbem-3108	85	41	's	's	PART
fbem-3108	85	42	green	green	ADJ
fbem-3108	85	43	development	development	NOUN
fbem-3108	85	44	strategy	strategy	NOUN
fbem-3108	85	45	(	(	PUNCT
fbem-3108	85	46	greenstrategy	greenstrategy	PROPN
fbem-3108	85	47	)	)	PUNCT
fbem-3108	85	48	.	.	PUNCT
fbem-3108	86	1	compared	compare	VERB
fbem-3108	86	2	with	with	ADP
fbem-3108	86	3	regular	regular	ADJ
fbem-3108	86	4	bond	bond	NOUN
fbem-3108	86	5	issuing	issue	VERB
fbem-3108	86	6	companies	company	NOUN
fbem-3108	86	7	,	,	PUNCT
fbem-3108	86	8	green	green	ADJ
fbem-3108	86	9	bond	bond	NOUN
fbem-3108	86	10	issuing	issue	VERB
fbem-3108	86	11	companies	company	NOUN
fbem-3108	86	12	have	have	VERB
fbem-3108	86	13	better	well	ADJ
fbem-3108	86	14	profitability	profitability	NOUN
fbem-3108	86	15	,	,	PUNCT
fbem-3108	86	16	lower	low	ADJ
fbem-3108	86	17	asset	asset	NOUN
fbem-3108	86	18	-	-	PUNCT
fbem-3108	86	19	toliability	toliability	NOUN
fbem-3108	86	20	ratios	ratio	NOUN
fbem-3108	86	21	,	,	PUNCT
fbem-3108	86	22	and	and	CCONJ
fbem-3108	86	23	stronger	strong	ADJ
fbem-3108	86	24	strategic	strategic	ADJ
fbem-3108	86	25	preferences	preference	NOUN
fbem-3108	86	26	for	for	ADP
fbem-3108	86	27	green	green	ADJ
fbem-3108	86	28	development	development	NOUN
fbem-3108	86	29	,	,	PUNCT
fbem-3108	86	30	tentatively	tentatively	ADV
fbem-3108	86	31	confirming	confirm	VERB
fbem-3108	86	32	research	research	NOUN
fbem-3108	86	33	hypothesis	hypothesis	NOUN
fbem-3108	86	34	1	1	NUM
fbem-3108	86	35	.	.	PUNCT
fbem-3108	86	36	table	table	NOUN
fbem-3108	86	37	1	1	NUM
fbem-3108	86	38	.	.	PUNCT
fbem-3108	86	39	descriptive	descriptive	ADJ
fbem-3108	86	40	statistics	statistics	PROPN
fbem-3108	86	41	variable	variable	PROPN
fbem-3108	86	42	control	control	PROPN
fbem-3108	86	43	group	group	NOUN
fbem-3108	86	44	(	(	PUNCT
fbem-3108	86	45	ordinary	ordinary	ADJ
fbem-3108	86	46	bond	bond	NOUN
fbem-3108	86	47	)	)	PUNCT
fbem-3108	86	48	treatment	treatment	NOUN
fbem-3108	86	49	group	group	NOUN
fbem-3108	86	50	(	(	PUNCT
fbem-3108	86	51	green	green	ADJ
fbem-3108	86	52	bond	bond	NOUN
fbem-3108	86	53	)	)	PUNCT
fbem-3108	86	54	difference	difference	NOUN
fbem-3108	86	55	mean	mean	NOUN
fbem-3108	86	56	of	of	ADP
fbem-3108	86	57	t	t	PROPN
fbem-3108	86	58	test	test	NOUN
fbem-3108	86	59	number	number	NOUN
fbem-3108	86	60	of	of	ADP
fbem-3108	86	61	samples	sample	NOUN
fbem-3108	86	62	average	average	ADJ
fbem-3108	86	63	number	number	NOUN
fbem-3108	86	64	of	of	ADP
fbem-3108	86	65	samples	sample	NOUN
fbem-3108	86	66	average	average	ADJ
fbem-3108	86	67	size	size	NOUN
fbem-3108	86	68	543	543	NUM
fbem-3108	86	69	24.75	24.75	NUM
fbem-3108	86	70	39	39	NUM
fbem-3108	86	71	24.57	24.57	NUM
fbem-3108	86	72	0.183	0.183	NUM
fbem-3108	86	73	to	to	PART
fbem-3108	86	74	bin'q	bin'q	VERB
fbem-3108	86	75	543	543	NUM
fbem-3108	86	76	1.146	1.146	NUM
fbem-3108	86	77	39	39	NUM
fbem-3108	86	78	1.209	1.209	NUM
fbem-3108	86	79	-0.0630	-0.0630	NOUN
fbem-3108	86	80	roa	roa	NOUN
fbem-3108	87	1	543	543	NUM
fbem-3108	87	2	0.0310	0.0310	NUM
fbem-3108	87	3	39	39	NUM
fbem-3108	87	4	0.0400	0.0400	NUM
fbem-3108	87	5	-0.009	-0.009	PUNCT
fbem-3108	87	6	*	*	PUNCT
fbem-3108	87	7	lev	lev	NOUN
fbem-3108	87	8	543	543	NUM
fbem-3108	87	9	0.630	0.630	NUM
fbem-3108	87	10	39	39	NUM
fbem-3108	87	11	0.568	0.568	NUM
fbem-3108	87	12	0.062	0.062	NUM
fbem-3108	87	13	*	*	PUNCT
fbem-3108	87	14	*	*	PUNCT
fbem-3108	87	15	esg	esg	PROPN
fbem-3108	87	16	543	543	NUM
fbem-3108	88	1	5.227	5.227	NUM
fbem-3108	88	2	39	39	NUM
fbem-3108	88	3	5.051	5.051	NUM
fbem-3108	88	4	0.175	0.175	NUM
fbem-3108	88	5	gs	gs	ADP
fbem-3108	88	6	543	543	NUM
fbem-3108	88	7	0.337	0.337	NUM
fbem-3108	88	8	39	39	NUM
fbem-3108	88	9	0.564	0.564	NUM
fbem-3108	88	10	-0.227	-0.227	PUNCT
fbem-3108	88	11	*	*	PUNCT
fbem-3108	88	12	*	*	PUNCT
fbem-3108	88	13	*	*	PUNCT
fbem-3108	88	14	soe	soe	PROPN
fbem-3108	88	15	543	543	NUM
fbem-3108	88	16	0.711	0.711	NUM
fbem-3108	88	17	39	39	NUM
fbem-3108	88	18	0.821	0.821	NUM
fbem-3108	88	19	-0.110	-0.110	NOUN
fbem-3108	88	20	notes	note	NOUN
fbem-3108	88	21	:	:	PUNCT
fbem-3108	88	22	*	*	PUNCT
fbem-3108	88	23	*	*	PUNCT
fbem-3108	88	24	*	*	PUNCT
fbem-3108	88	25	,	,	PUNCT
fbem-3108	88	26	*	*	PUNCT
fbem-3108	88	27	*	*	PUNCT
fbem-3108	88	28	,	,	PUNCT
fbem-3108	88	29	and	and	CCONJ
fbem-3108	88	30	*	*	PUNCT
fbem-3108	88	31	denote	denote	VERB
fbem-3108	88	32	statistical	statistical	ADJ
fbem-3108	88	33	significance	significance	NOUN
fbem-3108	88	34	at	at	ADP
fbem-3108	88	35	1	1	NUM
fbem-3108	88	36	%	%	NOUN
fbem-3108	88	37	,	,	PUNCT
fbem-3108	88	38	5	5	NUM
fbem-3108	88	39	%	%	NOUN
fbem-3108	88	40	,	,	PUNCT
fbem-3108	88	41	and	and	CCONJ
fbem-3108	88	42	10	10	NUM
fbem-3108	88	43	%	%	NOUN
fbem-3108	88	44	levels	level	NOUN
fbem-3108	88	45	respectively	respectively	ADV
fbem-3108	88	46	.	.	PUNCT
fbem-3108	89	1	5.2	5.2	NUM
fbem-3108	89	2	.	.	PUNCT
fbem-3108	90	1	regression	regression	NOUN
fbem-3108	90	2	analysis	analysis	NOUN
fbem-3108	90	3	table	table	NOUN
fbem-3108	90	4	2	2	NUM
fbem-3108	90	5	shows	show	VERB
fbem-3108	90	6	the	the	DET
fbem-3108	90	7	results	result	NOUN
fbem-3108	90	8	of	of	ADP
fbem-3108	90	9	logit	logit	NOUN
fbem-3108	90	10	regression	regression	NOUN
fbem-3108	90	11	using	use	VERB
fbem-3108	90	12	equation	equation	NOUN
fbem-3108	90	13	(	(	PUNCT
fbem-3108	90	14	1	1	NUM
fbem-3108	90	15	)	)	PUNCT
fbem-3108	90	16	.	.	PUNCT
fbem-3108	91	1	dependent	dependent	ADJ
fbem-3108	91	2	variable	variable	ADJ
fbem-3108	91	3	gbissue	gbissue	NOUN
fbem-3108	91	4	is	be	AUX
fbem-3108	91	5	whether	whether	SCONJ
fbem-3108	91	6	company	company	NOUN
fbem-3108	91	7	i	i	PRON
fbem-3108	91	8	issues	issue	VERB
fbem-3108	91	9	green	green	ADJ
fbem-3108	91	10	bonds	bond	NOUN
fbem-3108	91	11	in	in	ADP
fbem-3108	91	12	year	year	NOUN
fbem-3108	91	13	t.	t.	NOUN
fbem-3108	91	14	column	column	NOUN
fbem-3108	91	15	(	(	PUNCT
fbem-3108	91	16	1	1	X
fbem-3108	91	17	)	)	PUNCT
fbem-3108	91	18	of	of	ADP
fbem-3108	91	19	table	table	NOUN
fbem-3108	91	20	2	2	NUM
fbem-3108	91	21	does	do	AUX
fbem-3108	91	22	not	not	PART
fbem-3108	91	23	control	control	VERB
fbem-3108	91	24	for	for	ADP
fbem-3108	91	25	industry	industry	NOUN
fbem-3108	91	26	and	and	CCONJ
fbem-3108	91	27	year	year	NOUN
fbem-3108	91	28	factors	factor	NOUN
fbem-3108	91	29	,	,	PUNCT
fbem-3108	91	30	while	while	SCONJ
fbem-3108	91	31	column	column	NOUN
fbem-3108	91	32	(	(	PUNCT
fbem-3108	91	33	2	2	X
fbem-3108	91	34	)	)	PUNCT
fbem-3108	91	35	includes	include	VERB
fbem-3108	91	36	industry	industry	NOUN
fbem-3108	91	37	and	and	CCONJ
fbem-3108	91	38	year	year	NOUN
fbem-3108	91	39	factors	factor	NOUN
fbem-3108	91	40	.	.	PUNCT
fbem-3108	92	1	table	table	NOUN
fbem-3108	92	2	2	2	NUM
fbem-3108	92	3	shows	show	VERB
fbem-3108	92	4	that	that	SCONJ
fbem-3108	92	5	the	the	DET
fbem-3108	92	6	main	main	ADJ
fbem-3108	92	7	factors	factor	NOUN
fbem-3108	92	8	influencing	influence	VERB
fbem-3108	92	9	the	the	DET
fbem-3108	92	10	issuance	issuance	NOUN
fbem-3108	92	11	of	of	ADP
fbem-3108	92	12	green	green	ADJ
fbem-3108	92	13	bonds	bond	NOUN
fbem-3108	92	14	are	be	AUX
fbem-3108	92	15	the	the	DET
fbem-3108	92	16	asset	asset	NOUN
fbem-3108	92	17	-	-	PUNCT
fbem-3108	92	18	liability	liability	NOUN
fbem-3108	92	19	4	4	NUM
fbem-3108	92	20	ratio	ratio	NOUN
fbem-3108	92	21	(	(	PUNCT
fbem-3108	92	22	lev	lev	NOUN
fbem-3108	92	23	)	)	PUNCT
fbem-3108	92	24	,	,	PUNCT
fbem-3108	92	25	the	the	DET
fbem-3108	92	26	company	company	NOUN
fbem-3108	92	27	's	's	PART
fbem-3108	92	28	green	green	ADJ
fbem-3108	92	29	development	development	NOUN
fbem-3108	92	30	strategy	strategy	NOUN
fbem-3108	92	31	(	(	PUNCT
fbem-3108	92	32	gs	gs	NOUN
fbem-3108	92	33	)	)	PUNCT
fbem-3108	92	34	and	and	CCONJ
fbem-3108	92	35	the	the	DET
fbem-3108	92	36	type	type	NOUN
fbem-3108	92	37	of	of	ADP
fbem-3108	92	38	ownership	ownership	NOUN
fbem-3108	92	39	(	(	PUNCT
fbem-3108	92	40	soe	soe	PROPN
fbem-3108	92	41	)	)	PUNCT
fbem-3108	92	42	.	.	PUNCT
fbem-3108	93	1	the	the	DET
fbem-3108	93	2	coefficient	coefficient	NOUN
fbem-3108	93	3	of	of	ADP
fbem-3108	93	4	the	the	DET
fbem-3108	93	5	assetliability	assetliability	NOUN
fbem-3108	93	6	ratio	ratio	NOUN
fbem-3108	93	7	is	be	AUX
fbem-3108	93	8	negative	negative	ADJ
fbem-3108	93	9	,	,	PUNCT
fbem-3108	93	10	suggesting	suggest	VERB
fbem-3108	93	11	that	that	SCONJ
fbem-3108	93	12	companies	company	NOUN
fbem-3108	93	13	with	with	ADP
fbem-3108	93	14	lower	low	ADJ
fbem-3108	93	15	debt	debt	NOUN
fbem-3108	93	16	ratios	ratio	NOUN
fbem-3108	93	17	are	be	AUX
fbem-3108	93	18	more	more	ADV
fbem-3108	93	19	inclined	inclined	ADJ
fbem-3108	93	20	to	to	PART
fbem-3108	93	21	issue	issue	VERB
fbem-3108	93	22	green	green	ADJ
fbem-3108	93	23	bonds	bond	NOUN
fbem-3108	93	24	and	and	CCONJ
fbem-3108	93	25	indicating	indicate	VERB
fbem-3108	93	26	that	that	SCONJ
fbem-3108	93	27	the	the	DET
fbem-3108	93	28	financial	financial	ADJ
fbem-3108	93	29	health	health	NOUN
fbem-3108	93	30	of	of	ADP
fbem-3108	93	31	companies	company	NOUN
fbem-3108	93	32	is	be	AUX
fbem-3108	93	33	an	an	DET
fbem-3108	93	34	important	important	ADJ
fbem-3108	93	35	factor	factor	NOUN
fbem-3108	93	36	affecting	affect	VERB
fbem-3108	93	37	the	the	DET
fbem-3108	93	38	impacts	impact	NOUN
fbem-3108	93	39	of	of	ADP
fbem-3108	93	40	green	green	ADJ
fbem-3108	93	41	investments	investment	NOUN
fbem-3108	93	42	and	and	CCONJ
fbem-3108	93	43	socially	socially	ADV
fbem-3108	93	44	responsible	responsible	ADJ
fbem-3108	93	45	companies	company	NOUN
fbem-3108	93	46	(	(	PUNCT
fbem-3108	93	47	seifert	seifert	PROPN
fbem-3108	93	48	et	et	PROPN
fbem-3108	93	49	al	al	PROPN
fbem-3108	93	50	.	.	PROPN
fbem-3108	93	51	2004	2004	NUM
fbem-3108	93	52	)	)	PUNCT
fbem-3108	93	53	.	.	PUNCT
fbem-3108	94	1	the	the	DET
fbem-3108	94	2	coefficient	coefficient	NOUN
fbem-3108	94	3	of	of	ADP
fbem-3108	94	4	the	the	DET
fbem-3108	94	5	gs	gs	PROPN
fbem-3108	94	6	is	be	AUX
fbem-3108	94	7	significantly	significantly	ADV
fbem-3108	94	8	positive	positive	ADJ
fbem-3108	94	9	,	,	PUNCT
fbem-3108	94	10	indicating	indicate	VERB
fbem-3108	94	11	that	that	SCONJ
fbem-3108	94	12	the	the	DET
fbem-3108	94	13	company	company	NOUN
fbem-3108	94	14	's	's	PART
fbem-3108	94	15	green	green	ADJ
fbem-3108	94	16	strategic	strategic	NOUN
fbem-3108	94	17	directly	directly	ADV
fbem-3108	94	18	affects	affect	VERB
fbem-3108	94	19	the	the	DET
fbem-3108	94	20	direction	direction	NOUN
fbem-3108	94	21	of	of	ADP
fbem-3108	94	22	the	the	DET
fbem-3108	94	23	company	company	NOUN
fbem-3108	94	24	's	's	PART
fbem-3108	94	25	green	green	ADJ
fbem-3108	94	26	investment	investment	NOUN
fbem-3108	94	27	.	.	PUNCT
fbem-3108	95	1	in	in	ADP
fbem-3108	95	2	summary	summary	NOUN
fbem-3108	95	3	,	,	PUNCT
fbem-3108	95	4	the	the	DET
fbem-3108	95	5	result	result	NOUN
fbem-3108	95	6	support	support	VERB
fbem-3108	95	7	the	the	DET
fbem-3108	95	8	hypothesis	hypothesis	NOUN
fbem-3108	95	9	1	1	NUM
fbem-3108	95	10	.	.	PUNCT
fbem-3108	96	1	additionally	additionally	ADV
fbem-3108	96	2	,	,	PUNCT
fbem-3108	96	3	coefficient	coefficient	NOUN
fbem-3108	96	4	of	of	ADP
fbem-3108	96	5	the	the	DET
fbem-3108	96	6	type	type	NOUN
fbem-3108	96	7	of	of	ADP
fbem-3108	96	8	ownership	ownership	NOUN
fbem-3108	96	9	is	be	AUX
fbem-3108	96	10	also	also	ADV
fbem-3108	96	11	significantly	significantly	ADV
fbem-3108	96	12	positive	positive	ADJ
fbem-3108	96	13	,	,	PUNCT
fbem-3108	96	14	suggesting	suggest	VERB
fbem-3108	96	15	that	that	SCONJ
fbem-3108	96	16	state	state	NOUN
fbem-3108	96	17	-	-	PUNCT
fbem-3108	96	18	owned	own	VERB
fbem-3108	96	19	enterprises	enterprise	NOUN
fbem-3108	96	20	tend	tend	VERB
fbem-3108	96	21	to	to	PART
fbem-3108	96	22	issue	issue	VERB
fbem-3108	96	23	more	more	ADJ
fbem-3108	96	24	green	green	ADJ
fbem-3108	96	25	bonds	bond	NOUN
fbem-3108	96	26	than	than	ADP
fbem-3108	96	27	non	non	ADJ
fbem-3108	96	28	-	-	ADJ
fbem-3108	96	29	state	state	ADJ
fbem-3108	96	30	enterprises	enterprise	NOUN
fbem-3108	96	31	,	,	PUNCT
fbem-3108	96	32	which	which	PRON
fbem-3108	96	33	is	be	AUX
fbem-3108	96	34	in	in	ADP
fbem-3108	96	35	line	line	NOUN
fbem-3108	96	36	with	with	ADP
fbem-3108	96	37	the	the	DET
fbem-3108	96	38	statistical	statistical	ADJ
fbem-3108	96	39	results	result	NOUN
fbem-3108	96	40	of	of	ADP
fbem-3108	96	41	climate	climate	NOUN
fbem-3108	96	42	bonds	bond	NOUN
fbem-3108	96	43	initiative	initiative	NOUN
fbem-3108	96	44	and	and	CCONJ
fbem-3108	96	45	the	the	DET
fbem-3108	96	46	china	china	PROPN
fbem-3108	96	47	bond	bond	PROPN
fbem-3108	96	48	r&d	r&d	PROPN
fbem-3108	96	49	center	center	NOUN
fbem-3108	96	50	of	of	ADP
fbem-3108	96	51	china	china	PROPN
fbem-3108	96	52	central	central	PROPN
fbem-3108	96	53	depository	depository	NOUN
fbem-3108	96	54	and	and	CCONJ
fbem-3108	96	55	clearing	clearing	PROPN
fbem-3108	96	56	co.	co.	PROPN
fbem-3108	96	57	,	,	PUNCT
fbem-3108	96	58	ltd	ltd	PROPN
fbem-3108	96	59	(	(	PUNCT
fbem-3108	96	60	2022	2022	NUM
fbem-3108	96	61	)	)	PUNCT
fbem-3108	96	62	.	.	PUNCT
fbem-3108	97	1	the	the	DET
fbem-3108	97	2	result	result	NOUN
fbem-3108	97	3	also	also	ADV
fbem-3108	97	4	reflect	reflect	VERB
fbem-3108	97	5	that	that	SCONJ
fbem-3108	97	6	the	the	DET
fbem-3108	97	7	investment	investment	NOUN
fbem-3108	97	8	and	and	CCONJ
fbem-3108	97	9	financing	financing	NOUN
fbem-3108	97	10	bahaviors	bahavior	NOUN
fbem-3108	97	11	are	be	AUX
fbem-3108	97	12	politically	politically	ADV
fbem-3108	97	13	oriented	orient	VERB
fbem-3108	97	14	for	for	ADP
fbem-3108	97	15	state	state	NOUN
fbem-3108	97	16	-	-	PUNCT
fbem-3108	97	17	owned	own	VERB
fbem-3108	97	18	enterprises	enterprise	NOUN
fbem-3108	97	19	.	.	PUNCT
fbem-3108	98	1	table	table	NOUN
fbem-3108	98	2	2	2	NUM
fbem-3108	98	3	.	.	X
fbem-3108	99	1	logit	logit	PROPN
fbem-3108	99	2	regression	regression	VERB
fbem-3108	99	3	analysis	analysis	NOUN
fbem-3108	99	4	of	of	ADP
fbem-3108	99	5	the	the	DET
fbem-3108	99	6	main	main	ADJ
fbem-3108	99	7	characteristics	characteristic	NOUN
fbem-3108	99	8	of	of	ADP
fbem-3108	99	9	green	green	ADJ
fbem-3108	99	10	bond	bond	NOUN
fbem-3108	99	11	issuer	issuer	NOUN
fbem-3108	99	12	variable	variable	NOUN
fbem-3108	99	13	(	(	PUNCT
fbem-3108	99	14	1	1	NUM
fbem-3108	99	15	)	)	PUNCT
fbem-3108	99	16	(	(	PUNCT
fbem-3108	99	17	2	2	X
fbem-3108	99	18	)	)	PUNCT
fbem-3108	99	19	size	size	NOUN
fbem-3108	99	20	0.070	0.070	NUM
fbem-3108	99	21	0.154	0.154	NUM
fbem-3108	99	22	(	(	PUNCT
fbem-3108	99	23	0.464	0.464	NUM
fbem-3108	99	24	)	)	PUNCT
fbem-3108	99	25	(	(	PUNCT
fbem-3108	99	26	0.836	0.836	NUM
fbem-3108	99	27	)	)	PUNCT
fbem-3108	99	28	tobin	tobin	NOUN
fbem-3108	99	29	'	'	PART
fbem-3108	99	30	q	q	NOUN
fbem-3108	99	31	-0.044	-0.044	PROPN
fbem-3108	99	32	0.257	0.257	NUM
fbem-3108	99	33	(	(	PUNCT
fbem-3108	99	34	-0.123	-0.123	PRON
fbem-3108	99	35	)	)	PUNCT
fbem-3108	99	36	(	(	PUNCT
fbem-3108	99	37	0.595	0.595	NUM
fbem-3108	99	38	)	)	PUNCT
fbem-3108	99	39	roa	roa	NOUN
fbem-3108	100	1	6.812	6.812	NUM
fbem-3108	100	2	10.07	10.07	NUM
fbem-3108	100	3	(	(	PUNCT
fbem-3108	100	4	1.021	1.021	NUM
fbem-3108	100	5	)	)	PUNCT
fbem-3108	100	6	(	(	PUNCT
fbem-3108	100	7	1.157	1.157	NUM
fbem-3108	100	8	)	)	PUNCT
fbem-3108	100	9	lev	lev	NOUN
fbem-3108	100	10	-2.379	-2.379	NOUN
fbem-3108	100	11	*	*	PUNCT
fbem-3108	100	12	*	*	PUNCT
fbem-3108	100	13	-1.679	-1.679	NOUN
fbem-3108	100	14	*	*	PUNCT
fbem-3108	100	15	(	(	PUNCT
fbem-3108	100	16	-1.998	-1.998	PROPN
fbem-3108	100	17	)	)	PUNCT
fbem-3108	100	18	(	(	PUNCT
fbem-3108	100	19	-1.735	-1.735	X
fbem-3108	100	20	)	)	PUNCT
fbem-3108	100	21	esg	esg	NOUN
fbem-3108	100	22	-0.201	-0.201	NOUN
fbem-3108	100	23	0.038	0.038	NUM
fbem-3108	100	24	(	(	PUNCT
fbem-3108	100	25	-1.313	-1.313	PROPN
fbem-3108	100	26	)	)	PUNCT
fbem-3108	100	27	(	(	PUNCT
fbem-3108	100	28	0.185	0.185	NUM
fbem-3108	100	29	)	)	PUNCT
fbem-3108	100	30	gs	g	NOUN
fbem-3108	100	31	0.997	0.997	NUM
fbem-3108	100	32	*	*	PUNCT
fbem-3108	100	33	*	*	PUNCT
fbem-3108	100	34	*	*	PUNCT
fbem-3108	100	35	0.696	0.696	NUM
fbem-3108	100	36	*	*	PUNCT
fbem-3108	100	37	*	*	PUNCT
fbem-3108	100	38	*	*	PUNCT
fbem-3108	100	39	(	(	PUNCT
fbem-3108	100	40	2.912	2.912	NUM
fbem-3108	100	41	)	)	PUNCT
fbem-3108	100	42	(	(	PUNCT
fbem-3108	100	43	2.693	2.693	NUM
fbem-3108	100	44	)	)	PUNCT
fbem-3108	100	45	soe	soe	PROPN
fbem-3108	100	46	0.785	0.785	NUM
fbem-3108	100	47	*	*	PUNCT
fbem-3108	100	48	*	*	PUNCT
fbem-3108	100	49	*	*	PUNCT
fbem-3108	100	50	0.299	0.299	NUM
fbem-3108	100	51	*	*	PUNCT
fbem-3108	100	52	*	*	PUNCT
fbem-3108	100	53	(	(	PUNCT
fbem-3108	100	54	2.775	2.775	NUM
fbem-3108	100	55	)	)	PUNCT
fbem-3108	100	56	(	(	PUNCT
fbem-3108	100	57	1.981	1.981	NUM
fbem-3108	100	58	)	)	PUNCT
fbem-3108	101	1	_	_	PRON
fbem-3108	101	2	cons	con	NOUN
fbem-3108	101	3	-3.161	-3.161	PUNCT
fbem-3108	101	4	-36.09	-36.09	PROPN
fbem-3108	101	5	(	(	PUNCT
fbem-3108	101	6	-0.919	-0.919	NOUN
fbem-3108	101	7	)	)	PUNCT
fbem-3108	101	8	(	(	PUNCT
fbem-3108	101	9	-0.014	-0.014	X
fbem-3108	101	10	)	)	PUNCT
fbem-3108	101	11	ind	ind	NOUN
fbem-3108	102	1	no	no	INTJ
fbem-3108	102	2	yes	yes	INTJ
fbem-3108	102	3	year	year	NOUN
fbem-3108	103	1	no	no	INTJ
fbem-3108	103	2	yes	yes	INTJ
fbem-3108	104	1	n	n	ADV
fbem-3108	104	2	582	582	NUM
fbem-3108	104	3	496	496	NUM
fbem-3108	104	4	pseudo	pseudo	NOUN
fbem-3108	104	5	r	r	NOUN
fbem-3108	104	6	2	2	NUM
fbem-3108	104	7	0.067	0.067	NUM
fbem-3108	104	8	0.270	0.270	NUM
fbem-3108	104	9	note	note	NOUN
fbem-3108	104	10	:	:	PUNCT
fbem-3108	104	11	(	(	PUNCT
fbem-3108	104	12	1	1	X
fbem-3108	104	13	)	)	PUNCT
fbem-3108	104	14	since	since	SCONJ
fbem-3108	104	15	the	the	DET
fbem-3108	104	16	value	value	NOUN
fbem-3108	104	17	indicating	indicate	VERB
fbem-3108	104	18	whether	whether	SCONJ
fbem-3108	104	19	samples	sample	NOUN
fbem-3108	104	20	issue	issue	VERB
fbem-3108	104	21	green	green	ADJ
fbem-3108	104	22	bonds	bond	NOUN
fbem-3108	104	23	in	in	ADP
fbem-3108	104	24	certain	certain	ADJ
fbem-3108	104	25	industries	industry	NOUN
fbem-3108	104	26	(	(	PUNCT
fbem-3108	104	27	t	t	NOUN
fbem-3108	104	28	reat	reat	PROPN
fbem-3108	104	29	)	)	PUNCT
fbem-3108	104	30	remains	remain	VERB
fbem-3108	104	31	unchanged	unchanged	ADJ
fbem-3108	104	32	,	,	PUNCT
fbem-3108	104	33	it	it	PRON
fbem-3108	104	34	is	be	AUX
fbem-3108	104	35	automatically	automatically	ADV
fbem-3108	104	36	canceled	cancel	VERB
fbem-3108	104	37	during	during	ADP
fbem-3108	104	38	the	the	DET
fbem-3108	104	39	logit	logit	PROPN
fbem-3108	104	40	regression	regression	NOUN
fbem-3108	104	41	,	,	PUNCT
fbem-3108	104	42	so	so	CCONJ
fbem-3108	104	43	the	the	DET
fbem-3108	104	44	sample	sample	NOUN
fbem-3108	104	45	size	size	NOUN
fbem-3108	104	46	is	be	AUX
fbem-3108	104	47	reduced;(2	reduced;(2	PROPN
fbem-3108	104	48	)	)	PUNCT
fbem-3108	104	49	the	the	DET
fbem-3108	104	50	t	t	PROPN
fbem-3108	104	51	-	-	PUNCT
fbem-3108	104	52	values	value	NOUN
fbem-3108	104	53	are	be	AUX
fbem-3108	104	54	in	in	ADP
fbem-3108	104	55	parentheses	parenthesis	NOUN
fbem-3108	104	56	.	.	PUNCT
fbem-3108	105	1	*	*	PUNCT
fbem-3108	105	2	,	,	PUNCT
fbem-3108	105	3	*	*	PUNCT
fbem-3108	105	4	*	*	PUNCT
fbem-3108	105	5	,	,	PUNCT
fbem-3108	105	6	and	and	CCONJ
fbem-3108	105	7	*	*	PUNCT
fbem-3108	105	8	*	*	PUNCT
fbem-3108	105	9	*	*	NOUN
fbem-3108	105	10	denote	denote	NOUN
fbem-3108	105	11	significance	significance	NOUN
fbem-3108	105	12	at	at	ADP
fbem-3108	105	13	the	the	DET
fbem-3108	105	14	10	10	NUM
fbem-3108	105	15	%	%	NOUN
fbem-3108	105	16	,	,	PUNCT
fbem-3108	105	17	5	5	NUM
fbem-3108	105	18	%	%	NOUN
fbem-3108	105	19	,	,	PUNCT
fbem-3108	105	20	and	and	CCONJ
fbem-3108	105	21	1	1	NUM
fbem-3108	105	22	%	%	NOUN
fbem-3108	105	23	levels	level	NOUN
fbem-3108	105	24	,	,	PUNCT
fbem-3108	105	25	respectively	respectively	ADV
fbem-3108	105	26	.	.	PUNCT
fbem-3108	105	27	table	table	NOUN
fbem-3108	105	28	3	3	NUM
fbem-3108	105	29	shows	show	VERB
fbem-3108	105	30	the	the	DET
fbem-3108	105	31	results	result	NOUN
fbem-3108	105	32	of	of	ADP
fbem-3108	105	33	a	a	DET
fbem-3108	105	34	1:1	1:1	NUM
fbem-3108	105	35	matching	matching	NOUN
fbem-3108	105	36	based	base	VERB
fbem-3108	105	37	on	on	ADP
fbem-3108	105	38	psm	psm	NOUN
fbem-3108	105	39	neighbors	neighbor	NOUN
fbem-3108	105	40	.	.	PUNCT
fbem-3108	106	1	compared	compare	VERB
fbem-3108	106	2	to	to	ADP
fbem-3108	106	3	before	before	ADP
fbem-3108	106	4	matching	matching	NOUN
fbem-3108	106	5	,	,	PUNCT
fbem-3108	106	6	the	the	DET
fbem-3108	106	7	difference	difference	NOUN
fbem-3108	106	8	in	in	ADP
fbem-3108	106	9	covariates	covariate	NOUN
fbem-3108	106	10	such	such	ADJ
fbem-3108	106	11	as	as	ADP
fbem-3108	106	12	asset	asset	NOUN
fbem-3108	106	13	-	-	PUNCT
fbem-3108	106	14	liability	liability	NOUN
fbem-3108	106	15	ratio	ratio	NOUN
fbem-3108	106	16	and	and	CCONJ
fbem-3108	106	17	company	company	NOUN
fbem-3108	106	18	green	green	PROPN
fbem-3108	106	19	development	development	PROPN
fbem-3108	106	20	strategy	strategy	NOUN
fbem-3108	106	21	decreased	decrease	VERB
fbem-3108	106	22	significantly	significantly	ADV
fbem-3108	106	23	after	after	ADP
fbem-3108	106	24	matching	match	VERB
fbem-3108	106	25	.	.	PUNCT
fbem-3108	107	1	the	the	DET
fbem-3108	107	2	t	t	PROPN
fbem-3108	107	3	-	-	PUNCT
fbem-3108	107	4	test	test	NOUN
fbem-3108	107	5	results	result	NOUN
fbem-3108	107	6	showed	show	VERB
fbem-3108	107	7	that	that	SCONJ
fbem-3108	107	8	after	after	ADP
fbem-3108	107	9	psm	psm	NOUN
fbem-3108	107	10	propensity	propensity	NOUN
fbem-3108	107	11	matching	matching	NOUN
fbem-3108	107	12	,	,	PUNCT
fbem-3108	107	13	the	the	DET
fbem-3108	107	14	covariates	covariate	NOUN
fbem-3108	107	15	between	between	ADP
fbem-3108	107	16	the	the	DET
fbem-3108	107	17	treatment	treatment	NOUN
fbem-3108	107	18	group	group	NOUN
fbem-3108	107	19	and	and	CCONJ
fbem-3108	107	20	the	the	DET
fbem-3108	107	21	control	control	NOUN
fbem-3108	107	22	group	group	NOUN
fbem-3108	107	23	were	be	AUX
fbem-3108	107	24	very	very	ADV
fbem-3108	107	25	close	close	ADJ
fbem-3108	107	26	to	to	ADP
fbem-3108	107	27	each	each	DET
fbem-3108	107	28	other	other	ADJ
fbem-3108	107	29	and	and	CCONJ
fbem-3108	107	30	to	to	ADP
fbem-3108	107	31	the	the	DET
fbem-3108	107	32	sample	sample	NOUN
fbem-3108	107	33	.	.	PUNCT
fbem-3108	108	1	the	the	DET
fbem-3108	108	2	selectivity	selectivity	NOUN
fbem-3108	108	3	bias	bias	NOUN
fbem-3108	108	4	is	be	AUX
fbem-3108	108	5	reduced	reduce	VERB
fbem-3108	108	6	,	,	PUNCT
fbem-3108	108	7	thus	thus	ADV
fbem-3108	108	8	satisfying	satisfy	VERB
fbem-3108	108	9	the	the	DET
fbem-3108	108	10	comparability	comparability	NOUN
fbem-3108	108	11	requirements	requirement	NOUN
fbem-3108	108	12	.	.	PUNCT
fbem-3108	109	1	table	table	NOUN
fbem-3108	109	2	3	3	NUM
fbem-3108	109	3	.	.	X
fbem-3108	110	1	propensity	propensity	NOUN
fbem-3108	110	2	score	score	NOUN
fbem-3108	110	3	matching	matching	NOUN
fbem-3108	110	4	results	result	NOUN
fbem-3108	110	5	variable	variable	ADJ
fbem-3108	110	6	sample	sample	NOUN
fbem-3108	110	7	treatment	treatment	NOUN
fbem-3108	110	8	group	group	NOUN
fbem-3108	110	9	control	control	NOUN
fbem-3108	110	10	group	group	NOUN
fbem-3108	110	11	deviation	deviation	NOUN
fbem-3108	110	12	(	(	PUNCT
fbem-3108	110	13	%	%	INTJ
fbem-3108	110	14	)	)	PUNCT
fbem-3108	110	15	deviation	deviation	NOUN
fbem-3108	110	16	reduction	reduction	NOUN
fbem-3108	110	17	(	(	PUNCT
fbem-3108	110	18	%	%	INTJ
fbem-3108	110	19	)	)	PUNCT
fbem-3108	111	1	t	t	PROPN
fbem-3108	111	2	p	p	X
fbem-3108	111	3	>	>	X
fbem-3108	111	4	t	t	PROPN
fbem-3108	111	5	v(t)/v(c	v(t)/v(c	PROPN
fbem-3108	111	6	)	)	PUNCT
fbem-3108	111	7	size	size	NOUN
fbem-3108	111	8	before	before	ADP
fbem-3108	111	9	matching	match	VERB
fbem-3108	111	10	24.565	24.565	NUM
fbem-3108	111	11	24.81	24.81	NUM
fbem-3108	111	12	-18.0	-18.0	NOUN
fbem-3108	111	13	-1.05	-1.05	NOUN
fbem-3108	111	14	0.294	0.294	NUM
fbem-3108	111	15	0.88	0.88	NUM
fbem-3108	111	16	after	after	ADP
fbem-3108	111	17	matching	match	VERB
fbem-3108	111	18	24.537	24.537	NUM
fbem-3108	111	19	24.899	24.899	NUM
fbem-3108	111	20	-26.6	-26.6	PROPN
fbem-3108	111	21	-48.0	-48.0	PROPN
fbem-3108	111	22	-0.75	-0.75	NUM
fbem-3108	111	23	0.457	0.457	NUM
fbem-3108	111	24	0.99	0.99	NUM
fbem-3108	111	25	tobin	tobin	NOUN
fbem-3108	111	26	'	'	PUNCT
fbem-3108	111	27	q	q	NOUN
fbem-3108	111	28	before	before	ADP
fbem-3108	111	29	matching	match	VERB
fbem-3108	111	30	1.209	1.209	NUM
fbem-3108	111	31	1.140	1.140	NUM
fbem-3108	111	32	15.2	15.2	NUM
fbem-3108	111	33	0.87	0.87	NUM
fbem-3108	111	34	0.384	0.384	NUM
fbem-3108	111	35	0.80	0.80	NUM
fbem-3108	111	36	after	after	ADP
fbem-3108	111	37	matching	match	VERB
fbem-3108	111	38	1.117	1.117	NUM
fbem-3108	111	39	0.965	0.965	NUM
fbem-3108	111	40	33.8	33.8	NUM
fbem-3108	111	41	-122.5	-122.5	PROPN
fbem-3108	111	42	1.56	1.56	NUM
fbem-3108	111	43	0.107	0.107	NUM
fbem-3108	111	44	4.48	4.48	NUM
fbem-3108	111	45	*	*	PUNCT
fbem-3108	111	46	roa	roa	NOUN
fbem-3108	111	47	before	before	ADP
fbem-3108	111	48	matching	match	VERB
fbem-3108	111	49	0.0404	0.0404	NUM
fbem-3108	111	50	0.032	0.032	NUM
fbem-3108	111	51	28.1	28.1	NUM
fbem-3108	111	52	1.58	1.58	NUM
fbem-3108	111	53	0.114	0.114	NUM
fbem-3108	111	54	0.73	0.73	NUM
fbem-3108	111	55	after	after	ADP
fbem-3108	111	56	matching	match	VERB
fbem-3108	111	57	0.040	0.040	NUM
fbem-3108	111	58	0.033	0.033	NUM
fbem-3108	111	59	22.7	22.7	NUM
fbem-3108	111	60	19.2	19.2	NUM
fbem-3108	111	61	0.89	0.89	NUM
fbem-3108	111	62	0.382	0.382	NUM
fbem-3108	111	63	5.52	5.52	NUM
fbem-3108	111	64	*	*	PUNCT
fbem-3108	111	65	lev	lev	NOUN
fbem-3108	111	66	before	before	ADP
fbem-3108	111	67	matching	match	VERB
fbem-3108	111	68	0.567	0.567	NUM
fbem-3108	111	69	0.630	0.630	NUM
fbem-3108	111	70	-45.6	-45.6	NUM
fbem-3108	111	71	-2.40	-2.40	NUM
fbem-3108	111	72	0.017	0.017	NUM
fbem-3108	111	73	0.49	0.49	NUM
fbem-3108	111	74	*	*	PUNCT
fbem-3108	111	75	after	after	ADP
fbem-3108	111	76	matching	match	VERB
fbem-3108	111	77	0.575	0.575	NUM
fbem-3108	111	78	0.596	0.596	NUM
fbem-3108	111	79	-15.5	-15.5	NUM
fbem-3108	111	80	65.9	65.9	NUM
fbem-3108	111	81	-0.53	-0.53	NOUN
fbem-3108	111	82	0.597	0.597	NUM
fbem-3108	111	83	1.09	1.09	NUM
fbem-3108	111	84	esg	esg	NOUN
fbem-3108	111	85	before	before	ADP
fbem-3108	111	86	matching	match	VERB
fbem-3108	111	87	5.051	5.051	NUM
fbem-3108	111	88	5.277	5.277	NUM
fbem-3108	111	89	-20.0	-20.0	NOUN
fbem-3108	111	90	-1.19	-1.19	ADP
fbem-3108	111	91	0.235	0.235	NUM
fbem-3108	111	92	0.96	0.96	NUM
fbem-3108	111	93	after	after	ADP
fbem-3108	111	94	matching	match	VERB
fbem-3108	111	95	4.814	4.814	NUM
fbem-3108	111	96	4.777	4.777	NUM
fbem-3108	111	97	3.3	3.3	NUM
fbem-3108	111	98	83.7	83.7	NUM
fbem-3108	111	99	0.08	0.08	NUM
fbem-3108	111	100	0.934	0.934	NUM
fbem-3108	111	101	1.16	1.16	NUM
fbem-3108	111	102	gs	gs	NOUN
fbem-3108	111	103	before	before	ADP
fbem-3108	111	104	matching	match	VERB
fbem-3108	111	105	0.564	0.564	NUM
fbem-3108	111	106	0.332	0.332	NUM
fbem-3108	111	107	47.5	47.5	NUM
fbem-3108	111	108	2.93	2.93	NUM
fbem-3108	111	109	0.004	0.004	NUM
fbem-3108	111	110	.	.	PUNCT
fbem-3108	112	1	after	after	ADP
fbem-3108	112	2	matching	match	VERB
fbem-3108	112	3	0.518	0.518	NUM
fbem-3108	112	4	0.555	0.555	NUM
fbem-3108	112	5	-7.6	-7.6	NUM
fbem-3108	112	6	84.0	84.0	NUM
fbem-3108	112	7	-0.19	-0.19	NUM
fbem-3108	112	8	0.852	0.852	NUM
fbem-3108	112	9	.	.	PUNCT
fbem-3108	113	1	soe	soe	PROPN
fbem-3108	113	2	before	before	ADP
fbem-3108	113	3	matching	match	VERB
fbem-3108	113	4	0.820	0.820	NUM
fbem-3108	113	5	0.713	0.713	NUM
fbem-3108	113	6	25.4	25.4	NUM
fbem-3108	113	7	1.43	1.43	NUM
fbem-3108	113	8	0.152	0.152	NUM
fbem-3108	113	9	.	.	PUNCT
fbem-3108	114	1	after	after	ADP
fbem-3108	114	2	matching	match	VERB
fbem-3108	114	3	0.814	0.814	NUM
fbem-3108	114	4	0.888	0.888	NUM
fbem-3108	114	5	-17.6	-17.6	NUM
fbem-3108	114	6	30.9	30.9	NUM
fbem-3108	114	7	-0.50	-0.50	NUM
fbem-3108	114	8	0.618	0.618	NUM
fbem-3108	114	9	.	.	PUNCT
fbem-3108	115	1	table	table	NOUN
fbem-3108	115	2	4	4	NUM
fbem-3108	115	3	presents	present	VERB
fbem-3108	115	4	the	the	DET
fbem-3108	115	5	regression	regression	NOUN
fbem-3108	115	6	analysis	analysis	NOUN
fbem-3108	115	7	of	of	ADP
fbem-3108	115	8	the	the	DET
fbem-3108	115	9	impact	impact	NOUN
fbem-3108	115	10	of	of	ADP
fbem-3108	115	11	green	green	ADJ
fbem-3108	115	12	bond	bond	NOUN
fbem-3108	115	13	issuance	issuance	NOUN
fbem-3108	115	14	on	on	ADP
fbem-3108	115	15	environmental	environmental	ADJ
fbem-3108	115	16	performance	performance	NOUN
fbem-3108	115	17	based	base	VERB
fbem-3108	115	18	on	on	ADP
fbem-3108	115	19	the	the	DET
fbem-3108	115	20	psm	psm	NOUN
fbem-3108	115	21	-	-	PUNCT
fbem-3108	115	22	did	did	ADJ
fbem-3108	115	23	model	model	NOUN
fbem-3108	115	24	.	.	PUNCT
fbem-3108	116	1	the	the	DET
fbem-3108	116	2	dependent	dependent	ADJ
fbem-3108	116	3	variable	variable	NOUN
fbem-3108	116	4	in	in	ADP
fbem-3108	116	5	columns	column	NOUN
fbem-3108	116	6	(	(	PUNCT
fbem-3108	116	7	1	1	NUM
fbem-3108	116	8	)	)	PUNCT
fbem-3108	116	9	to	to	ADP
fbem-3108	116	10	(	(	PUNCT
fbem-3108	116	11	3	3	X
fbem-3108	116	12	)	)	PUNCT
fbem-3108	116	13	of	of	ADP
fbem-3108	116	14	table	table	NOUN
fbem-3108	116	15	4	4	NUM
fbem-3108	116	16	is	be	AUX
fbem-3108	116	17	the	the	DET
fbem-3108	116	18	environmental	environmental	ADJ
fbem-3108	116	19	performance	performance	NOUN
fbem-3108	116	20	(	(	PUNCT
fbem-3108	116	21	ep	ep	PROPN
fbem-3108	116	22	)	)	PUNCT
fbem-3108	116	23	,	,	PUNCT
fbem-3108	116	24	and	and	CCONJ
fbem-3108	116	25	the	the	DET
fbem-3108	116	26	coefficient	coefficient	NOUN
fbem-3108	116	27	of	of	ADP
fbem-3108	116	28	the	the	DET
fbem-3108	116	29	interaction	interaction	NOUN
fbem-3108	116	30	term	term	NOUN
fbem-3108	116	31	(	(	PUNCT
fbem-3108	116	32	treat*time	treat*time	NOUN
fbem-3108	116	33	)	)	PUNCT
fbem-3108	116	34	between	between	ADP
fbem-3108	116	35	the	the	DET
fbem-3108	116	36	treatment	treatment	NOUN
fbem-3108	116	37	group	group	NOUN
fbem-3108	116	38	and	and	CCONJ
fbem-3108	116	39	the	the	DET
fbem-3108	116	40	year	year	NOUN
fbem-3108	116	41	of	of	ADP
fbem-3108	116	42	exposure	exposure	NOUN
fbem-3108	116	43	is	be	AUX
fbem-3108	116	44	significantly	significantly	ADV
fbem-3108	116	45	5	5	NUM
fbem-3108	116	46	positive	positive	ADJ
fbem-3108	116	47	,	,	PUNCT
fbem-3108	116	48	indicating	indicate	VERB
fbem-3108	116	49	the	the	DET
fbem-3108	116	50	issuance	issuance	NOUN
fbem-3108	116	51	of	of	ADP
fbem-3108	116	52	green	green	ADJ
fbem-3108	116	53	bonds	bond	NOUN
fbem-3108	116	54	can	can	AUX
fbem-3108	116	55	actually	actually	ADV
fbem-3108	116	56	improve	improve	VERB
fbem-3108	116	57	corporate	corporate	ADJ
fbem-3108	116	58	environmental	environmental	ADJ
fbem-3108	116	59	performance	performance	NOUN
fbem-3108	116	60	.	.	PUNCT
fbem-3108	117	1	consequently	consequently	ADV
fbem-3108	117	2	,	,	PUNCT
fbem-3108	117	3	hypothesis	hypothesis	NOUN
fbem-3108	117	4	2	2	NUM
fbem-3108	117	5	is	be	AUX
fbem-3108	117	6	verified	verify	VERB
fbem-3108	117	7	.	.	PUNCT
fbem-3108	118	1	table	table	NOUN
fbem-3108	118	2	4	4	NUM
fbem-3108	118	3	.	.	PUNCT
fbem-3108	119	1	impact	impact	NOUN
fbem-3108	119	2	of	of	ADP
fbem-3108	119	3	green	green	ADJ
fbem-3108	119	4	bond	bond	NOUN
fbem-3108	119	5	issuance	issuance	NOUN
fbem-3108	119	6	on	on	ADP
fbem-3108	119	7	environmental	environmental	ADJ
fbem-3108	119	8	performance	performance	NOUN
fbem-3108	119	9	variable	variable	NOUN
fbem-3108	119	10	(	(	PUNCT
fbem-3108	119	11	1	1	NUM
fbem-3108	119	12	)	)	PUNCT
fbem-3108	119	13	(	(	PUNCT
fbem-3108	119	14	2	2	NUM
fbem-3108	119	15	)	)	PUNCT
fbem-3108	119	16	(	(	PUNCT
fbem-3108	119	17	3	3	X
fbem-3108	119	18	)	)	PUNCT
fbem-3108	119	19	treat*time	treat*time	ADP
fbem-3108	119	20	0.906	0.906	NUM
fbem-3108	119	21	*	*	X
fbem-3108	119	22	*	*	NOUN
fbem-3108	119	23	0.298	0.298	NUM
fbem-3108	119	24	*	*	SYM
fbem-3108	119	25	0.104	0.104	NUM
fbem-3108	119	26	*	*	PUNCT
fbem-3108	119	27	(	(	PUNCT
fbem-3108	119	28	2.259	2.259	NUM
fbem-3108	119	29	)	)	PUNCT
fbem-3108	119	30	(	(	PUNCT
fbem-3108	119	31	1.928	1.928	NUM
fbem-3108	119	32	)	)	PUNCT
fbem-3108	119	33	(	(	PUNCT
fbem-3108	119	34	1.695	1.695	NUM
fbem-3108	119	35	)	)	PUNCT
fbem-3108	119	36	time	time	NOUN
fbem-3108	119	37	1.397	1.397	NUM
fbem-3108	119	38	*	*	NOUN
fbem-3108	119	39	*	*	NOUN
fbem-3108	119	40	2.192	2.192	NUM
fbem-3108	119	41	*	*	PUNCT
fbem-3108	119	42	*	*	PUNCT
fbem-3108	119	43	*	*	PUNCT
fbem-3108	119	44	(	(	PUNCT
fbem-3108	119	45	2.401	2.401	NUM
fbem-3108	119	46	)	)	PUNCT
fbem-3108	119	47	(	(	PUNCT
fbem-3108	119	48	2.805	2.805	NUM
fbem-3108	119	49	)	)	PUNCT
fbem-3108	119	50	treat	treat	VERB
fbem-3108	119	51	0.250	0.250	NUM
fbem-3108	119	52	0.491	0.491	NUM
fbem-3108	119	53	(	(	PUNCT
fbem-3108	119	54	0.456	0.456	NUM
fbem-3108	119	55	)	)	PUNCT
fbem-3108	119	56	(	(	PUNCT
fbem-3108	119	57	0.725	0.725	NUM
fbem-3108	119	58	)	)	PUNCT
fbem-3108	119	59	size	size	NOUN
fbem-3108	119	60	0.328	0.328	NUM
fbem-3108	119	61	0.263	0.263	NUM
fbem-3108	119	62	(	(	PUNCT
fbem-3108	119	63	1.443	1.443	NUM
fbem-3108	119	64	)	)	PUNCT
fbem-3108	119	65	(	(	PUNCT
fbem-3108	119	66	0.834	0.834	NUM
fbem-3108	119	67	)	)	PUNCT
fbem-3108	119	68	tobin’q	tobin’q	NOUN
fbem-3108	120	1	2,386	2,386	NUM
fbem-3108	120	2	*	*	PUNCT
fbem-3108	120	3	*	*	PUNCT
fbem-3108	120	4	*	*	PUNCT
fbem-3108	120	5	2,043	2,043	NUM
fbem-3108	120	6	*	*	SYM
fbem-3108	120	7	(	(	PUNCT
fbem-3108	120	8	2,578	2,578	NUM
fbem-3108	120	9	)	)	PUNCT
fbem-3108	120	10	(	(	PUNCT
fbem-3108	120	11	1,793	1,793	NUM
fbem-3108	120	12	)	)	PUNCT
fbem-3108	120	13	roa	roa	NOUN
fbem-3108	120	14	-28.20	-28.20	PROPN
fbem-3108	120	15	*	*	PUNCT
fbem-3108	121	1	*	*	PUNCT
fbem-3108	121	2	*	*	PUNCT
fbem-3108	121	3	-31.18	-31.18	PUNCT
fbem-3108	121	4	*	*	PUNCT
fbem-3108	121	5	*	*	PUNCT
fbem-3108	121	6	*	*	PUNCT
fbem-3108	121	7	(	(	PUNCT
fbem-3108	121	8	-3,015	-3,015	INTJ
fbem-3108	121	9	)	)	PUNCT
fbem-3108	121	10	(	(	PUNCT
fbem-3108	121	11	-2,806	-2,806	NOUN
fbem-3108	121	12	)	)	PUNCT
fbem-3108	121	13	lev	lev	NOUN
fbem-3108	121	14	-3,176	-3,176	PROPN
fbem-3108	121	15	-4,931	-4,931	NOUN
fbem-3108	121	16	*	*	PUNCT
fbem-3108	121	17	(	(	PUNCT
fbem-3108	121	18	-1,499	-1,499	NOUN
fbem-3108	121	19	)	)	PUNCT
fbem-3108	121	20	(	(	PUNCT
fbem-3108	121	21	-1,908	-1,908	NOUN
fbem-3108	121	22	)	)	PUNCT
fbem-3108	121	23	g	g	NOUN
fbem-3108	121	24	's	's	PART
fbem-3108	121	25	0.840	0.840	NUM
fbem-3108	121	26	*	*	PUNCT
fbem-3108	121	27	*	*	X
fbem-3108	121	28	1,164	1,164	NUM
fbem-3108	121	29	*	*	PUNCT
fbem-3108	121	30	*	*	PUNCT
fbem-3108	121	31	(	(	PUNCT
fbem-3108	121	32	2,130	2,130	NUM
fbem-3108	121	33	)	)	PUNCT
fbem-3108	121	34	(	(	PUNCT
fbem-3108	121	35	2,220	2,220	NUM
fbem-3108	121	36	)	)	PUNCT
fbem-3108	121	37	soe	soe	PROPN
fbem-3108	121	38	0.147	0.147	NUM
fbem-3108	121	39	0.300	0.300	NUM
fbem-3108	121	40	(	(	PUNCT
fbem-3108	121	41	0.310	0.310	NUM
fbem-3108	121	42	)	)	PUNCT
fbem-3108	121	43	(	(	PUNCT
fbem-3108	121	44	0.514	0.514	NUM
fbem-3108	121	45	)	)	PUNCT
fbem-3108	121	46	_	_	NOUN
fbem-3108	121	47	cons	con	NOUN
fbem-3108	121	48	-0.966	-0.966	PUNCT
fbem-3108	121	49	*	*	PUNCT
fbem-3108	121	50	*	*	PUNCT
fbem-3108	121	51	*	*	PUNCT
fbem-3108	121	52	-10.04	-10.04	PROPN
fbem-3108	121	53	*	*	PUNCT
fbem-3108	121	54	-20.54	-20.54	PROPN
fbem-3108	121	55	(	(	PUNCT
fbem-3108	121	56	-4.866	-4.866	PROPN
fbem-3108	121	57	)	)	PUNCT
fbem-3108	121	58	(	(	PUNCT
fbem-3108	121	59	-1.817	-1.817	X
fbem-3108	121	60	)	)	PUNCT
fbem-3108	121	61	(	(	PUNCT
fbem-3108	121	62	-0.009	-0.009	X
fbem-3108	121	63	)	)	PUNCT
fbem-3108	121	64	ind	ind	NOUN
fbem-3108	122	1	no	no	INTJ
fbem-3108	122	2	no	no	INTJ
fbem-3108	122	3	yes	yes	INTJ
fbem-3108	122	4	year	year	NOUN
fbem-3108	123	1	no	no	INTJ
fbem-3108	124	1	no	no	INTJ
fbem-3108	125	1	yes	yes	INTJ
fbem-3108	125	2	n	n	ADV
fbem-3108	125	3	160	160	NUM
fbem-3108	125	4	156	156	NUM
fbem-3108	125	5	148	148	NUM
fbem-3108	125	6	pseudo	pseudo	NOUN
fbem-3108	125	7	r	r	NOUN
fbem-3108	125	8	2	2	NUM
fbem-3108	125	9	0.025	0.025	NUM
fbem-3108	125	10	0.134	0.134	NUM
fbem-3108	125	11	0.286	0.286	NUM
fbem-3108	125	12	6	6	NUM
fbem-3108	125	13	.	.	PUNCT
fbem-3108	125	14	conclusion	conclusion	NOUN
fbem-3108	125	15	the	the	DET
fbem-3108	125	16	green	green	ADJ
fbem-3108	125	17	bond	bond	NOUN
fbem-3108	125	18	is	be	AUX
fbem-3108	125	19	an	an	DET
fbem-3108	125	20	important	important	ADJ
fbem-3108	125	21	financial	financial	ADJ
fbem-3108	125	22	instrument	instrument	NOUN
fbem-3108	125	23	to	to	PART
fbem-3108	125	24	accompany	accompany	VERB
fbem-3108	125	25	the	the	DET
fbem-3108	125	26	green	green	ADJ
fbem-3108	125	27	allocation	allocation	NOUN
fbem-3108	125	28	of	of	ADP
fbem-3108	125	29	share	share	NOUN
fbem-3108	125	30	capital	capital	NOUN
fbem-3108	125	31	and	and	CCONJ
fbem-3108	125	32	the	the	DET
fbem-3108	125	33	green	green	ADJ
fbem-3108	125	34	development	development	NOUN
fbem-3108	125	35	of	of	ADP
fbem-3108	125	36	companies	company	NOUN
fbem-3108	125	37	.	.	PUNCT
fbem-3108	126	1	a	a	DET
fbem-3108	126	2	comparative	comparative	ADJ
fbem-3108	126	3	study	study	NOUN
fbem-3108	126	4	of	of	ADP
fbem-3108	126	5	nonfinancial	nonfinancial	ADJ
fbem-3108	126	6	listed	list	VERB
fbem-3108	126	7	companies	company	NOUN
fbem-3108	126	8	in	in	ADP
fbem-3108	126	9	china	china	PROPN
fbem-3108	126	10	that	that	PRON
fbem-3108	126	11	issued	issue	VERB
fbem-3108	126	12	green	green	ADJ
fbem-3108	126	13	bonds	bond	NOUN
fbem-3108	126	14	and	and	CCONJ
fbem-3108	126	15	common	common	ADJ
fbem-3108	126	16	bonds	bond	NOUN
fbem-3108	126	17	between	between	ADP
fbem-3108	126	18	2016	2016	NUM
fbem-3108	126	19	and	and	CCONJ
fbem-3108	126	20	2021	2021	NUM
fbem-3108	126	21	shows	show	VERB
fbem-3108	126	22	that	that	SCONJ
fbem-3108	126	23	the	the	DET
fbem-3108	126	24	company	company	NOUN
fbem-3108	126	25	's	's	PART
fbem-3108	126	26	green	green	ADJ
fbem-3108	126	27	development	development	NOUN
fbem-3108	126	28	strategy	strategy	NOUN
fbem-3108	126	29	is	be	AUX
fbem-3108	126	30	an	an	DET
fbem-3108	126	31	important	important	ADJ
fbem-3108	126	32	factor	factor	NOUN
fbem-3108	126	33	in	in	ADP
fbem-3108	126	34	promoting	promote	VERB
fbem-3108	126	35	corporate	corporate	ADJ
fbem-3108	126	36	green	green	ADJ
fbem-3108	126	37	bond	bond	NOUN
fbem-3108	126	38	issuance	issuance	NOUN
fbem-3108	126	39	.	.	PUNCT
fbem-3108	127	1	the	the	DET
fbem-3108	127	2	proprietary	proprietary	ADJ
fbem-3108	127	3	rights	right	NOUN
fbem-3108	127	4	nature	nature	NOUN
fbem-3108	127	5	of	of	ADP
fbem-3108	127	6	soes	soe	NOUN
fbem-3108	127	7	and	and	CCONJ
fbem-3108	127	8	the	the	DET
fbem-3108	127	9	low	low	ADJ
fbem-3108	127	10	asset	asset	NOUN
fbem-3108	127	11	-	-	PUNCT
fbem-3108	127	12	to	to	ADP
fbem-3108	127	13	-	-	PUNCT
fbem-3108	127	14	liability	liability	NOUN
fbem-3108	127	15	ratio	ratio	NOUN
fbem-3108	127	16	shape	shape	NOUN
fbem-3108	127	17	the	the	DET
fbem-3108	127	18	individual	individual	ADJ
fbem-3108	127	19	characteristics	characteristic	NOUN
fbem-3108	127	20	of	of	ADP
fbem-3108	127	21	green	green	ADJ
fbem-3108	127	22	bond	bond	NOUN
fbem-3108	127	23	issuers	issuer	NOUN
fbem-3108	127	24	.	.	PUNCT
fbem-3108	128	1	it	it	PRON
fbem-3108	128	2	was	be	AUX
fbem-3108	128	3	also	also	ADV
fbem-3108	128	4	found	find	VERB
fbem-3108	128	5	through	through	ADP
fbem-3108	128	6	the	the	DET
fbem-3108	128	7	psm	psm	NOUN
fbem-3108	128	8	-	-	PUNCT
fbem-3108	128	9	did	did	ADJ
fbem-3108	128	10	model	model	NOUN
fbem-3108	128	11	that	that	SCONJ
fbem-3108	128	12	green	green	ADJ
fbem-3108	128	13	bond	bond	NOUN
fbem-3108	128	14	issuance	issuance	NOUN
fbem-3108	128	15	can	can	AUX
fbem-3108	128	16	effectively	effectively	ADV
fbem-3108	128	17	improve	improve	VERB
fbem-3108	128	18	the	the	DET
fbem-3108	128	19	post	post	ADJ
fbem-3108	128	20	-	-	ADJ
fbem-3108	128	21	issuance	issuance	ADJ
fbem-3108	128	22	environmental	environmental	ADJ
fbem-3108	128	23	performance	performance	NOUN
fbem-3108	128	24	of	of	ADP
fbem-3108	128	25	companies	company	NOUN
fbem-3108	128	26	,	,	PUNCT
fbem-3108	128	27	indicating	indicate	VERB
fbem-3108	128	28	that	that	SCONJ
fbem-3108	128	29	the	the	DET
fbem-3108	128	30	information	information	NOUN
fbem-3108	128	31	asymmetry	asymmetry	NOUN
fbem-3108	128	32	caused	cause	VERB
fbem-3108	128	33	by	by	ADP
fbem-3108	128	34	the	the	DET
fbem-3108	128	35	signal	signal	ADJ
fbem-3108	128	36	transmission	transmission	NOUN
fbem-3108	128	37	mechanism	mechanism	NOUN
fbem-3108	128	38	of	of	ADP
fbem-3108	128	39	green	green	ADJ
fbem-3108	128	40	bond	bond	NOUN
fbem-3108	128	41	issuance	issuance	NOUN
fbem-3108	128	42	is	be	AUX
fbem-3108	128	43	reduced	reduce	VERB
fbem-3108	128	44	and	and	CCONJ
fbem-3108	128	45	the	the	DET
fbem-3108	128	46	green	green	ADJ
fbem-3108	128	47	bond	bond	NOUN
fbem-3108	128	48	green	green	ADJ
fbem-3108	128	49	reputation	reputation	NOUN
fbem-3108	128	50	mechanism	mechanism	NOUN
fbem-3108	128	51	promotes	promote	VERB
fbem-3108	128	52	corporate	corporate	ADJ
fbem-3108	128	53	environmental	environmental	ADJ
fbem-3108	128	54	performance	performance	NOUN
fbem-3108	128	55	.	.	PUNCT
fbem-3108	129	1	environmental	environmental	ADJ
fbem-3108	129	2	management	management	NOUN
fbem-3108	129	3	also	also	ADV
fbem-3108	129	4	verified	verify	VERB
fbem-3108	129	5	that	that	SCONJ
fbem-3108	129	6	the	the	DET
fbem-3108	129	7	company	company	NOUN
fbem-3108	129	8	's	's	PART
fbem-3108	129	9	green	green	ADJ
fbem-3108	129	10	development	development	NOUN
fbem-3108	129	11	strategy	strategy	NOUN
fbem-3108	129	12	is	be	AUX
fbem-3108	129	13	an	an	DET
fbem-3108	129	14	important	important	ADJ
fbem-3108	129	15	factor	factor	NOUN
fbem-3108	129	16	influencing	influence	VERB
fbem-3108	129	17	the	the	DET
fbem-3108	129	18	issuance	issuance	NOUN
fbem-3108	129	19	of	of	ADP
fbem-3108	129	20	green	green	ADJ
fbem-3108	129	21	bonds	bond	NOUN
fbem-3108	129	22	.	.	PUNCT
fbem-3108	130	1	based	base	VERB
fbem-3108	130	2	on	on	ADP
fbem-3108	130	3	the	the	DET
fbem-3108	130	4	above	above	ADJ
fbem-3108	130	5	findings	finding	NOUN
fbem-3108	130	6	,	,	PUNCT
fbem-3108	130	7	this	this	DET
fbem-3108	130	8	document	document	NOUN
fbem-3108	130	9	makes	make	VERB
fbem-3108	130	10	the	the	DET
fbem-3108	130	11	following	follow	VERB
fbem-3108	130	12	policy	policy	NOUN
fbem-3108	130	13	proposals	proposal	NOUN
fbem-3108	130	14	:	:	PUNCT
fbem-3108	130	15	(	(	PUNCT
fbem-3108	130	16	1	1	X
fbem-3108	130	17	)	)	PUNCT
fbem-3108	130	18	it	it	PRON
fbem-3108	130	19	is	be	AUX
fbem-3108	130	20	important	important	ADJ
fbem-3108	130	21	to	to	PART
fbem-3108	130	22	improve	improve	VERB
fbem-3108	130	23	the	the	DET
fbem-3108	130	24	direction	direction	NOUN
fbem-3108	130	25	of	of	ADP
fbem-3108	130	26	green	green	ADJ
fbem-3108	130	27	development	development	NOUN
fbem-3108	130	28	strategy	strategy	NOUN
fbem-3108	130	29	at	at	ADP
fbem-3108	130	30	the	the	DET
fbem-3108	130	31	institutional	institutional	ADJ
fbem-3108	130	32	level	level	NOUN
fbem-3108	130	33	,	,	PUNCT
fbem-3108	130	34	including	include	VERB
fbem-3108	130	35	the	the	DET
fbem-3108	130	36	level	level	NOUN
fbem-3108	130	37	of	of	ADP
fbem-3108	130	38	environmental	environmental	ADJ
fbem-3108	130	39	monitoring	monitoring	NOUN
fbem-3108	130	40	and	and	CCONJ
fbem-3108	130	41	green	green	ADJ
fbem-3108	130	42	bonds	bond	NOUN
fbem-3108	130	43	,	,	PUNCT
fbem-3108	130	44	and	and	CCONJ
fbem-3108	130	45	provide	provide	VERB
fbem-3108	130	46	guidance	guidance	NOUN
fbem-3108	130	47	for	for	ADP
fbem-3108	130	48	the	the	DET
fbem-3108	130	49	allocation	allocation	NOUN
fbem-3108	130	50	of	of	ADP
fbem-3108	130	51	green	green	ADJ
fbem-3108	130	52	resources	resource	NOUN
fbem-3108	130	53	by	by	ADP
fbem-3108	130	54	companies	company	NOUN
fbem-3108	130	55	;	;	PUNCT
fbem-3108	130	56	(	(	PUNCT
fbem-3108	130	57	2	2	X
fbem-3108	130	58	)	)	PUNCT
fbem-3108	130	59	it	it	PRON
fbem-3108	130	60	is	be	AUX
fbem-3108	130	61	also	also	ADV
fbem-3108	130	62	noteworthy	noteworthy	ADJ
fbem-3108	130	63	to	to	PART
fbem-3108	130	64	develop	develop	VERB
fbem-3108	130	65	green	green	ADJ
fbem-3108	130	66	bond	bond	NOUN
fbem-3108	130	67	market	market	NOUN
fbem-3108	130	68	and	and	CCONJ
fbem-3108	130	69	reduce	reduce	VERB
fbem-3108	130	70	the	the	DET
fbem-3108	130	71	cost	cost	NOUN
fbem-3108	130	72	of	of	ADP
fbem-3108	130	73	green	green	ADJ
fbem-3108	130	74	bond	bond	NOUN
fbem-3108	130	75	financing	financing	NOUN
fbem-3108	130	76	for	for	ADP
fbem-3108	130	77	enterprises	enterprise	NOUN
fbem-3108	130	78	,	,	PUNCT
fbem-3108	130	79	and	and	CCONJ
fbem-3108	130	80	then	then	ADV
fbem-3108	130	81	promote	promote	VERB
fbem-3108	130	82	the	the	DET
fbem-3108	130	83	environmental	environmental	ADJ
fbem-3108	130	84	governance	governance	NOUN
fbem-3108	130	85	effect	effect	NOUN
fbem-3108	130	86	of	of	ADP
fbem-3108	130	87	green	green	ADJ
fbem-3108	130	88	bond	bond	NOUN
fbem-3108	130	89	.	.	PUNCT
fbem-3108	131	1	acknowledgment	acknowledgment	NOUN
fbem-3108	131	2	this	this	DET
fbem-3108	131	3	work	work	NOUN
fbem-3108	131	4	was	be	AUX
fbem-3108	131	5	supported	support	VERB
fbem-3108	131	6	by	by	ADP
fbem-3108	131	7	the	the	DET
fbem-3108	131	8	humanities	humanity	NOUN
fbem-3108	131	9	and	and	CCONJ
fbem-3108	131	10	social	social	ADJ
fbem-3108	131	11	sciences	sciences	PROPN
fbem-3108	131	12	research	research	NOUN
fbem-3108	131	13	project	project	NOUN
fbem-3108	131	14	of	of	ADP
fbem-3108	131	15	jiangxi	jiangxi	PROPN
fbem-3108	131	16	provincial	provincial	PROPN
fbem-3108	131	17	department	department	PROPN
fbem-3108	131	18	of	of	ADP
fbem-3108	131	19	education(grant	education(grant	PROPN
fbem-3108	131	20	jc18204	jc18204	PROPN
fbem-3108	131	21	)	)	PUNCT
fbem-3108	131	22	and	and	CCONJ
fbem-3108	131	23	the	the	DET
fbem-3108	131	24	science	science	NOUN
fbem-3108	131	25	and	and	CCONJ
fbem-3108	131	26	technology	technology	NOUN
fbem-3108	131	27	research	research	NOUN
fbem-3108	131	28	project	project	NOUN
fbem-3108	131	29	of	of	ADP
fbem-3108	131	30	jiangxi	jiangxi	PROPN
fbem-3108	131	31	provincial	provincial	PROPN
fbem-3108	131	32	department	department	NOUN
fbem-3108	131	33	of	of	ADP
fbem-3108	131	34	education(gjj170958	education(gjj170958	PROPN
fbem-3108	131	35	)	)	PUNCT
fbem-3108	131	36	.	.	PUNCT
fbem-3108	132	1	references	reference	NOUN
fbem-3108	132	2	[	[	X
fbem-3108	132	3	1	1	NUM
fbem-3108	132	4	]	]	PUNCT
fbem-3108	132	5	akerlof	akerlof	NOUN
fbem-3108	132	6	,	,	PUNCT
fbem-3108	132	7	g.	g.	PROPN
fbem-3108	132	8	a.	a.	NOUN
fbem-3108	132	9	1970	1970	NUM
fbem-3108	132	10	.	.	PUNCT
fbem-3108	133	1	the	the	DET
fbem-3108	133	2	market	market	NOUN
fbem-3108	133	3	for	for	ADP
fbem-3108	133	4	“	"	PUNCT
fbem-3108	133	5	lemons	lemon	NOUN
fbem-3108	133	6	”	"	PUNCT
fbem-3108	133	7	:	:	PUNCT
fbem-3108	133	8	quality	quality	NOUN
fbem-3108	133	9	uncertainty	uncertainty	NOUN
fbem-3108	133	10	and	and	CCONJ
fbem-3108	133	11	the	the	DET
fbem-3108	133	12	market	market	NOUN
fbem-3108	133	13	mechanism	mechanism	NOUN
fbem-3108	133	14	*	*	NOUN
fbem-3108	133	15	.	.	PUNCT
fbem-3108	134	1	the	the	DET
fbem-3108	134	2	quarterly	quarterly	ADJ
fbem-3108	134	3	journal	journal	NOUN
fbem-3108	134	4	of	of	ADP
fbem-3108	134	5	economics	economic	NOUN
fbem-3108	134	6	84(3):488	84(3):488	NUM
fbem-3108	134	7	-	-	SYM
fbem-3108	134	8	500	500	NUM
fbem-3108	134	9	.	.	PUNCT
fbem-3108	135	1	[	[	X
fbem-3108	135	2	2	2	NUM
fbem-3108	135	3	]	]	X
fbem-3108	135	4	flammer	flammer	PROPN
fbem-3108	135	5	,	,	PUNCT
fbem-3108	135	6	c.	c.	PROPN
fbem-3108	135	7	2021	2021	NUM
fbem-3108	135	8	.	.	PUNCT
fbem-3108	136	1	corporate	corporate	ADJ
fbem-3108	136	2	green	green	ADJ
fbem-3108	136	3	bonds	bond	NOUN
fbem-3108	136	4	.	.	PUNCT
fbem-3108	137	1	journal	journal	NOUN
fbem-3108	137	2	of	of	ADP
fbem-3108	137	3	financial	financial	ADJ
fbem-3108	137	4	economics	economic	NOUN
fbem-3108	137	5	142	142	NUM
fbem-3108	137	6	(	(	PUNCT
fbem-3108	137	7	2):499	2):499	NUM
fbem-3108	137	8	-	-	PUNCT
fbem-3108	137	9	516	516	NUM
fbem-3108	137	10	.	.	PUNCT
fbem-3108	138	1	[	[	X
fbem-3108	138	2	3	3	NUM
fbem-3108	138	3	]	]	PUNCT
fbem-3108	138	4	climate	climate	NOUN
fbem-3108	138	5	bonds	bond	NOUN
fbem-3108	138	6	initiative	initiative	NOUN
fbem-3108	138	7	and	and	CCONJ
fbem-3108	138	8	the	the	DET
fbem-3108	138	9	china	china	PROPN
fbem-3108	138	10	bond	bond	PROPN
fbem-3108	138	11	r&d	r&d	PROPN
fbem-3108	138	12	center	center	NOUN
fbem-3108	138	13	of	of	ADP
fbem-3108	138	14	china	china	PROPN
fbem-3108	138	15	central	central	PROPN
fbem-3108	138	16	depository	depository	NOUN
fbem-3108	138	17	and	and	CCONJ
fbem-3108	138	18	clearing	clearing	PROPN
fbem-3108	138	19	co.	co.	PROPN
fbem-3108	138	20	,	,	PUNCT
fbem-3108	138	21	ltd	ltd	PROPN
fbem-3108	138	22	.	.	PROPN
fbem-3108	138	23	2022	2022	NUM
fbem-3108	138	24	.	.	PUNCT
fbem-3108	139	1	china	china	PROPN
fbem-3108	139	2	green	green	PROPN
fbem-3108	139	3	bond	bond	PROPN
fbem-3108	139	4	market	market	NOUN
fbem-3108	139	5	report	report	NOUN
fbem-3108	139	6	2021	2021	NUM
fbem-3108	139	7	.	.	PUNCT
fbem-3108	140	1	[	[	X
fbem-3108	140	2	4	4	NUM
fbem-3108	140	3	]	]	X
fbem-3108	140	4	riley	riley	PROPN
fbem-3108	140	5	,	,	PUNCT
fbem-3108	140	6	j.	j.	PROPN
fbem-3108	140	7	g.	g.	PROPN
fbem-3108	140	8	1979	1979	NUM
fbem-3108	140	9	.	.	PUNCT
fbem-3108	141	1	informational	informational	ADJ
fbem-3108	141	2	equilibrium	equilibrium	NOUN
fbem-3108	141	3	.	.	PUNCT
fbem-3108	142	1	econometrica	econometrica	PROPN
fbem-3108	142	2	:	:	PUNCT
fbem-3108	142	3	journal	journal	NOUN
fbem-3108	142	4	of	of	ADP
fbem-3108	142	5	the	the	DET
fbem-3108	142	6	econometric	econometric	ADJ
fbem-3108	142	7	society:331	society:331	NOUN
fbem-3108	142	8	-	-	PUNCT
fbem-3108	142	9	359	359	NUM
fbem-3108	142	10	.	.	PUNCT
fbem-3108	143	1	[	[	X
fbem-3108	143	2	5	5	NUM
fbem-3108	143	3	]	]	X
fbem-3108	143	4	sangiorgi	sangiorgi	NOUN
fbem-3108	143	5	,	,	PUNCT
fbem-3108	143	6	i.	i.	NOUN
fbem-3108	143	7	,	,	PUNCT
fbem-3108	143	8	and	and	CCONJ
fbem-3108	143	9	l.	l.	PROPN
fbem-3108	143	10	schopohl	schopohl	PROPN
fbem-3108	143	11	.	.	PUNCT
fbem-3108	144	1	2021a	2021a	NUM
fbem-3108	144	2	.	.	PUNCT
fbem-3108	145	1	explaining	explain	VERB
fbem-3108	145	2	green	green	ADJ
fbem-3108	145	3	bond	bond	NOUN
fbem-3108	145	4	issuance	issuance	NOUN
fbem-3108	145	5	using	use	VERB
fbem-3108	145	6	survey	survey	NOUN
fbem-3108	145	7	evidence	evidence	NOUN
fbem-3108	145	8	:	:	PUNCT
fbem-3108	145	9	beyond	beyond	ADP
fbem-3108	145	10	the	the	DET
fbem-3108	145	11	greenium	greenium	NOUN
fbem-3108	145	12	.	.	PUNCT
fbem-3108	146	1	the	the	DET
fbem-3108	146	2	british	british	ADJ
fbem-3108	146	3	accounting	accounting	PROPN
fbem-3108	146	4	review:101071	review:101071	NOUN
fbem-3108	146	5	.	.	PUNCT
fbem-3108	147	1	[	[	X
fbem-3108	147	2	6	6	NUM
fbem-3108	147	3	]	]	X
fbem-3108	147	4	sangiorgi	sangiorgi	NOUN
fbem-3108	147	5	,	,	PUNCT
fbem-3108	147	6	i.	i.	NOUN
fbem-3108	147	7	,	,	PUNCT
fbem-3108	147	8	and	and	CCONJ
fbem-3108	147	9	l.	l.	PROPN
fbem-3108	147	10	schopohl	schopohl	PROPN
fbem-3108	147	11	.	.	PUNCT
fbem-3108	148	1	2021b	2021b	NUM
fbem-3108	148	2	.	.	PUNCT
fbem-3108	149	1	why	why	SCONJ
fbem-3108	149	2	do	do	AUX
fbem-3108	149	3	institutional	institutional	ADJ
fbem-3108	149	4	investors	investor	NOUN
fbem-3108	149	5	buy	buy	VERB
fbem-3108	149	6	green	green	ADJ
fbem-3108	149	7	bonds	bond	NOUN
fbem-3108	149	8	:	:	PUNCT
fbem-3108	149	9	evidence	evidence	NOUN
fbem-3108	149	10	from	from	ADP
fbem-3108	149	11	a	a	DET
fbem-3108	149	12	survey	survey	NOUN
fbem-3108	149	13	of	of	ADP
fbem-3108	149	14	european	european	ADJ
fbem-3108	149	15	asset	asset	NOUN
fbem-3108	149	16	managers	manager	NOUN
fbem-3108	149	17	.	.	PUNCT
fbem-3108	150	1	international	international	ADJ
fbem-3108	150	2	review	review	NOUN
fbem-3108	150	3	of	of	ADP
fbem-3108	150	4	financial	financial	ADJ
fbem-3108	150	5	analysis	analysis	NOUN
fbem-3108	150	6	75:101738	75:101738	NOUN
fbem-3108	150	7	.	.	PUNCT
fbem-3108	151	1	[	[	X
fbem-3108	151	2	7	7	NUM
fbem-3108	151	3	]	]	X
fbem-3108	151	4	seifert	seifert	PROPN
fbem-3108	151	5	,	,	PUNCT
fbem-3108	151	6	b.	b.	PROPN
fbem-3108	151	7	,	,	PUNCT
fbem-3108	151	8	s.	s.	PROPN
fbem-3108	151	9	a.	a.	PROPN
fbem-3108	151	10	morris	morris	PROPN
fbem-3108	151	11	,	,	PUNCT
fbem-3108	151	12	and	and	CCONJ
fbem-3108	151	13	b.	b.	PROPN
fbem-3108	151	14	r.	r.	PROPN
fbem-3108	151	15	bartkus	bartkus	PROPN
fbem-3108	151	16	.	.	PUNCT
fbem-3108	152	1	2004	2004	NUM
fbem-3108	152	2	.	.	PUNCT
fbem-3108	153	1	having	having	AUX
fbem-3108	153	2	,	,	PUNCT
fbem-3108	153	3	giving	give	VERB
fbem-3108	153	4	,	,	PUNCT
fbem-3108	153	5	and	and	CCONJ
fbem-3108	153	6	getting	get	VERB
fbem-3108	153	7	:	:	PUNCT
fbem-3108	153	8	slack	slack	VERB
fbem-3108	153	9	resources	resource	NOUN
fbem-3108	153	10	,	,	PUNCT
fbem-3108	153	11	corporate	corporate	ADJ
fbem-3108	153	12	philanthropy	philanthropy	NOUN
fbem-3108	153	13	,	,	PUNCT
fbem-3108	153	14	and	and	CCONJ
fbem-3108	153	15	firm	firm	ADJ
fbem-3108	153	16	financial	financial	ADJ
fbem-3108	153	17	performance	performance	NOUN
fbem-3108	153	18	.	.	PUNCT
fbem-3108	154	1	business	business	NOUN
fbem-3108	154	2	&	&	CCONJ
fbem-3108	154	3	society	society	PROPN
fbem-3108	154	4	43	43	NUM
fbem-3108	154	5	(	(	PUNCT
fbem-3108	154	6	2):135	2):135	NUM
fbem-3108	154	7	-	-	SYM
fbem-3108	154	8	161	161	NUM
fbem-3108	154	9	.	.	PUNCT
fbem-3108	155	1	[	[	X
fbem-3108	155	2	8	8	NUM
fbem-3108	155	3	]	]	PUNCT
fbem-3108	155	4	sparkes	sparke	NOUN
fbem-3108	155	5	,	,	PUNCT
fbem-3108	155	6	r.	r.	PROPN
fbem-3108	155	7	,	,	PUNCT
fbem-3108	155	8	and	and	CCONJ
fbem-3108	155	9	c.	c.	PROPN
fbem-3108	155	10	j.	j.	PROPN
fbem-3108	155	11	cowton	cowton	PROPN
fbem-3108	155	12	.	.	PUNCT
fbem-3108	156	1	2004	2004	NUM
fbem-3108	156	2	.	.	PUNCT
fbem-3108	157	1	the	the	DET
fbem-3108	157	2	maturing	mature	VERB
fbem-3108	157	3	of	of	ADP
fbem-3108	157	4	socially	socially	ADV
fbem-3108	157	5	responsible	responsible	ADJ
fbem-3108	157	6	investment	investment	NOUN
fbem-3108	157	7	:	:	PUNCT
fbem-3108	157	8	a	a	DET
fbem-3108	157	9	review	review	NOUN
fbem-3108	157	10	of	of	ADP
fbem-3108	157	11	the	the	DET
fbem-3108	157	12	developing	develop	VERB
fbem-3108	157	13	link	link	NOUN
fbem-3108	157	14	with	with	ADP
fbem-3108	157	15	corporate	corporate	ADJ
fbem-3108	157	16	social	social	ADJ
fbem-3108	157	17	responsibility	responsibility	NOUN
fbem-3108	157	18	.	.	PUNCT
fbem-3108	158	1	journal	journal	PROPN
fbem-3108	158	2	of	of	ADP
fbem-3108	158	3	business	business	NOUN
fbem-3108	158	4	ethics	ethic	NOUN
fbem-3108	158	5	52	52	NUM
fbem-3108	158	6	(	(	PUNCT
fbem-3108	158	7	1):45	1):45	NUM
fbem-3108	158	8	-	-	SYM
fbem-3108	158	9	57	57	NUM
fbem-3108	158	10	.	.	NOUN
fbem-3108	158	11	6	6	NUM
fbem-3108	159	1	[	[	SYM
fbem-3108	159	2	9	9	NUM
fbem-3108	159	3	]	]	SYM
fbem-3108	159	4	zhang	zhang	PROPN
fbem-3108	159	5	,	,	PUNCT
fbem-3108	159	6	r.	r.	PROPN
fbem-3108	159	7	,	,	PUNCT
fbem-3108	159	8	y.	y.	PROPN
fbem-3108	159	9	li	li	PROPN
fbem-3108	159	10	,	,	PUNCT
fbem-3108	159	11	and	and	CCONJ
fbem-3108	159	12	y.	y.	PROPN
fbem-3108	159	13	liu	liu	PROPN
fbem-3108	159	14	.	.	PROPN
fbem-3108	159	15	2021	2021	NUM
fbem-3108	159	16	.	.	PUNCT
fbem-3108	160	1	green	green	ADJ
fbem-3108	160	2	bond	bond	NOUN
fbem-3108	160	3	issuance	issuance	NOUN
fbem-3108	160	4	and	and	CCONJ
fbem-3108	160	5	corporate	corporate	ADJ
fbem-3108	160	6	cost	cost	NOUN
fbem-3108	160	7	of	of	ADP
fbem-3108	160	8	capital	capital	NOUN
fbem-3108	160	9	.	.	PUNCT
fbem-3108	161	1	pacific	pacific	ADJ
fbem-3108	161	2	-	-	PUNCT
fbem-3108	161	3	basin	basin	NOUN
fbem-3108	161	4	finance	finance	NOUN
fbem-3108	161	5	journal	journal	NOUN
fbem-3108	161	6	69:101626	69:101626	NUM
fbem-3108	161	7	.	.	PUNCT