id	sid	tid	token	lemma	pos
fbem-31299	1	1	frontiers	frontier	NOUN
fbem-31299	1	2	in	in	ADP
fbem-31299	1	3	business	business	NOUN
fbem-31299	1	4	,	,	PUNCT
fbem-31299	1	5	economics	economic	NOUN
fbem-31299	1	6	and	and	CCONJ
fbem-31299	1	7	management	management	NOUN
fbem-31299	1	8	issn	issn	PROPN
fbem-31299	1	9	:	:	PUNCT
fbem-31299	1	10	2766	2766	NUM
fbem-31299	1	11	-	-	PUNCT
fbem-31299	1	12	824x	824x	NUM
fbem-31299	1	13	|	|	ADJ
fbem-31299	1	14	vol	vol	NOUN
fbem-31299	1	15	.	.	PROPN
fbem-31299	1	16	20	20	NUM
fbem-31299	1	17	,	,	PUNCT
fbem-31299	1	18	no	no	INTJ
fbem-31299	1	19	.	.	NOUN
fbem-31299	1	20	1	1	NUM
fbem-31299	1	21	,	,	PUNCT
fbem-31299	1	22	2025	2025	NUM
fbem-31299	1	23	105	105	NUM
fbem-31299	1	24	patient	patient	ADJ
fbem-31299	1	25	capital	capital	NOUN
fbem-31299	1	26	,	,	PUNCT
fbem-31299	1	27	innovation	innovation	NOUN
fbem-31299	1	28	performance	performance	NOUN
fbem-31299	1	29	,	,	PUNCT
fbem-31299	1	30	and	and	CCONJ
fbem-31299	1	31	their	their	PRON
fbem-31299	1	32	impact	impact	NOUN
fbem-31299	1	33	on	on	ADP
fbem-31299	1	34	enterprise	enterprise	NOUN
fbem-31299	1	35	resilience	resilience	NOUN
fbem-31299	1	36	-based	-base	VERB
fbem-31299	1	37	on	on	ADP
fbem-31299	1	38	data	datum	NOUN
fbem-31299	1	39	from	from	ADP
fbem-31299	1	40	a	a	DET
fbem-31299	1	41	-	-	PUNCT
fbem-31299	1	42	share	share	NOUN
fbem-31299	1	43	manufacturing	manufacturing	NOUN
fbem-31299	1	44	listed	list	VERB
fbem-31299	1	45	companies	company	NOUN
fbem-31299	1	46	in	in	ADP
fbem-31299	1	47	china	china	PROPN
fbem-31299	1	48	leiyang	leiyang	PROPN
fbem-31299	1	49	shu	shu	PROPN
fbem-31299	1	50	,	,	PUNCT
fbem-31299	1	51	yijun	yijun	PROPN
fbem-31299	1	52	chen	chen	PROPN
fbem-31299	1	53	,	,	PUNCT
fbem-31299	1	54	wenli	wenli	PROPN
fbem-31299	1	55	hu	hu	PROPN
fbem-31299	1	56	,	,	PUNCT
fbem-31299	1	57	yu	yu	PROPN
fbem-31299	1	58	fu	fu	PROPN
fbem-31299	1	59	sichuan	sichuan	PROPN
fbem-31299	1	60	university	university	PROPN
fbem-31299	1	61	of	of	ADP
fbem-31299	1	62	science	science	PROPN
fbem-31299	1	63	&	&	CCONJ
fbem-31299	1	64	engineering	engineering	PROPN
fbem-31299	1	65	,	,	PUNCT
fbem-31299	1	66	yibin	yibin	PROPN
fbem-31299	1	67	,	,	PUNCT
fbem-31299	1	68	644000	644000	NUM
fbem-31299	1	69	,	,	PUNCT
fbem-31299	1	70	china	china	PROPN
fbem-31299	1	71	.	.	PUNCT
fbem-31299	2	1	abstract	abstract	PROPN
fbem-31299	2	2	:	:	PUNCT
fbem-31299	2	3	in	in	ADP
fbem-31299	2	4	recent	recent	ADJ
fbem-31299	2	5	years	year	NOUN
fbem-31299	2	6	,	,	PUNCT
fbem-31299	2	7	enterprise	enterprise	NOUN
fbem-31299	2	8	resilience	resilience	NOUN
fbem-31299	2	9	has	have	AUX
fbem-31299	2	10	become	become	VERB
fbem-31299	2	11	a	a	DET
fbem-31299	2	12	critical	critical	ADJ
fbem-31299	2	13	topic	topic	NOUN
fbem-31299	2	14	in	in	ADP
fbem-31299	2	15	management	management	NOUN
fbem-31299	2	16	and	and	CCONJ
fbem-31299	2	17	economic	economic	ADJ
fbem-31299	2	18	research	research	NOUN
fbem-31299	2	19	,	,	PUNCT
fbem-31299	2	20	particularly	particularly	ADV
fbem-31299	2	21	in	in	ADP
fbem-31299	2	22	the	the	DET
fbem-31299	2	23	context	context	NOUN
fbem-31299	2	24	of	of	ADP
fbem-31299	2	25	economic	economic	ADJ
fbem-31299	2	26	fluctuations	fluctuation	NOUN
fbem-31299	2	27	,	,	PUNCT
fbem-31299	2	28	industry	industry	NOUN
fbem-31299	2	29	shocks	shock	NOUN
fbem-31299	2	30	,	,	PUNCT
fbem-31299	2	31	and	and	CCONJ
fbem-31299	2	32	unexpected	unexpected	ADJ
fbem-31299	2	33	events	event	NOUN
fbem-31299	2	34	(	(	PUNCT
fbem-31299	2	35	e.g.	e.g.	ADV
fbem-31299	2	36	,	,	PUNCT
fbem-31299	2	37	pandemics	pandemic	NOUN
fbem-31299	2	38	,	,	PUNCT
fbem-31299	2	39	financial	financial	ADJ
fbem-31299	2	40	crises	crisis	NOUN
fbem-31299	2	41	)	)	PUNCT
fbem-31299	2	42	.	.	PUNCT
fbem-31299	3	1	this	this	DET
fbem-31299	3	2	study	study	NOUN
fbem-31299	3	3	examines	examine	VERB
fbem-31299	3	4	the	the	DET
fbem-31299	3	5	impact	impact	NOUN
fbem-31299	3	6	of	of	ADP
fbem-31299	3	7	patient	patient	ADJ
fbem-31299	3	8	capital	capital	NOUN
fbem-31299	3	9	on	on	ADP
fbem-31299	3	10	enterprise	enterprise	NOUN
fbem-31299	3	11	resilience	resilience	NOUN
fbem-31299	3	12	using	use	VERB
fbem-31299	3	13	data	datum	NOUN
fbem-31299	3	14	from	from	ADP
fbem-31299	3	15	chinese	chinese	PROPN
fbem-31299	3	16	a	a	PROPN
fbem-31299	3	17	-	-	PUNCT
fbem-31299	3	18	share	share	NOUN
fbem-31299	3	19	manufacturing	manufacturing	NOUN
fbem-31299	3	20	listed	list	VERB
fbem-31299	3	21	companies	company	NOUN
fbem-31299	3	22	from	from	ADP
fbem-31299	3	23	2013	2013	NUM
fbem-31299	3	24	to	to	ADP
fbem-31299	3	25	2023	2023	NUM
fbem-31299	3	26	.	.	PUNCT
fbem-31299	4	1	the	the	DET
fbem-31299	4	2	findings	finding	NOUN
fbem-31299	4	3	reveal	reveal	VERB
fbem-31299	4	4	that	that	SCONJ
fbem-31299	4	5	patient	patient	ADJ
fbem-31299	4	6	capital	capital	NOUN
fbem-31299	4	7	significantly	significantly	ADV
fbem-31299	4	8	enhances	enhance	VERB
fbem-31299	4	9	enterprise	enterprise	NOUN
fbem-31299	4	10	resilience	resilience	NOUN
fbem-31299	4	11	by	by	ADP
fbem-31299	4	12	providing	provide	VERB
fbem-31299	4	13	long	long	ADJ
fbem-31299	4	14	-	-	PUNCT
fbem-31299	4	15	term	term	NOUN
fbem-31299	4	16	,	,	PUNCT
fbem-31299	4	17	stable	stable	ADJ
fbem-31299	4	18	financial	financial	ADJ
fbem-31299	4	19	support	support	NOUN
fbem-31299	4	20	.	.	PUNCT
fbem-31299	5	1	mediation	mediation	NOUN
fbem-31299	5	2	analysis	analysis	NOUN
fbem-31299	5	3	indicates	indicate	VERB
fbem-31299	5	4	that	that	SCONJ
fbem-31299	5	5	improved	improved	ADJ
fbem-31299	5	6	innovation	innovation	NOUN
fbem-31299	5	7	efficiency	efficiency	NOUN
fbem-31299	5	8	and	and	CCONJ
fbem-31299	5	9	alleviated	alleviated	ADJ
fbem-31299	5	10	financing	financing	NOUN
fbem-31299	5	11	constraints	constraint	NOUN
fbem-31299	5	12	are	be	AUX
fbem-31299	5	13	two	two	NUM
fbem-31299	5	14	key	key	ADJ
fbem-31299	5	15	pathways	pathway	NOUN
fbem-31299	5	16	,	,	PUNCT
fbem-31299	5	17	each	each	PRON
fbem-31299	5	18	contributing	contribute	VERB
fbem-31299	5	19	over	over	ADP
fbem-31299	5	20	30	30	NUM
fbem-31299	5	21	%	%	NOUN
fbem-31299	5	22	.	.	PUNCT
fbem-31299	6	1	additionally	additionally	ADV
fbem-31299	6	2	,	,	PUNCT
fbem-31299	6	3	first	first	ADJ
fbem-31299	6	4	-	-	PUNCT
fbem-31299	6	5	tier	tier	NOUN
fbem-31299	6	6	agency	agency	NOUN
fbem-31299	6	7	costs	cost	NOUN
fbem-31299	6	8	negatively	negatively	ADV
fbem-31299	6	9	moderate	moderate	VERB
fbem-31299	6	10	the	the	DET
fbem-31299	6	11	effect	effect	NOUN
fbem-31299	6	12	of	of	ADP
fbem-31299	6	13	patient	patient	ADJ
fbem-31299	6	14	capital	capital	NOUN
fbem-31299	6	15	,	,	PUNCT
fbem-31299	6	16	with	with	ADP
fbem-31299	6	17	high	high	ADJ
fbem-31299	6	18	agency	agency	NOUN
fbem-31299	6	19	costs	cost	NOUN
fbem-31299	6	20	weakening	weaken	VERB
fbem-31299	6	21	its	its	PRON
fbem-31299	6	22	positive	positive	ADJ
fbem-31299	6	23	impact	impact	NOUN
fbem-31299	6	24	.	.	PUNCT
fbem-31299	7	1	heterogeneity	heterogeneity	NOUN
fbem-31299	7	2	tests	test	NOUN
fbem-31299	7	3	show	show	VERB
fbem-31299	7	4	that	that	SCONJ
fbem-31299	7	5	patient	patient	ADJ
fbem-31299	7	6	capital	capital	NOUN
fbem-31299	7	7	has	have	VERB
fbem-31299	7	8	a	a	DET
fbem-31299	7	9	more	more	ADV
fbem-31299	7	10	pronounced	pronounced	ADJ
fbem-31299	7	11	effect	effect	NOUN
fbem-31299	7	12	on	on	ADP
fbem-31299	7	13	non	non	ADJ
fbem-31299	7	14	-	-	ADJ
fbem-31299	7	15	digital	digital	ADJ
fbem-31299	7	16	core	core	NOUN
fbem-31299	7	17	industries	industry	NOUN
fbem-31299	7	18	and	and	CCONJ
fbem-31299	7	19	non	non	ADJ
fbem-31299	7	20	-	-	ADJ
fbem-31299	7	21	high	high	ADJ
fbem-31299	7	22	-	-	PUNCT
fbem-31299	7	23	tech	tech	NOUN
fbem-31299	7	24	enterprises	enterprise	NOUN
fbem-31299	7	25	.	.	PUNCT
fbem-31299	8	1	these	these	DET
fbem-31299	8	2	findings	finding	NOUN
fbem-31299	8	3	provide	provide	VERB
fbem-31299	8	4	empirical	empirical	ADJ
fbem-31299	8	5	support	support	NOUN
fbem-31299	8	6	for	for	ADP
fbem-31299	8	7	policymakers	policymaker	NOUN
fbem-31299	8	8	in	in	ADP
fbem-31299	8	9	designing	design	VERB
fbem-31299	8	10	differentiated	differentiate	VERB
fbem-31299	8	11	capital	capital	NOUN
fbem-31299	8	12	guidance	guidance	NOUN
fbem-31299	8	13	strategies	strategy	NOUN
fbem-31299	8	14	,	,	PUNCT
fbem-31299	8	15	for	for	ADP
fbem-31299	8	16	enterprises	enterprise	NOUN
fbem-31299	8	17	in	in	ADP
fbem-31299	8	18	optimizing	optimize	VERB
fbem-31299	8	19	governance	governance	NOUN
fbem-31299	8	20	structures	structure	NOUN
fbem-31299	8	21	,	,	PUNCT
fbem-31299	8	22	and	and	CCONJ
fbem-31299	8	23	for	for	ADP
fbem-31299	8	24	investors	investor	NOUN
fbem-31299	8	25	in	in	ADP
fbem-31299	8	26	making	make	VERB
fbem-31299	8	27	long	long	ADJ
fbem-31299	8	28	-	-	PUNCT
fbem-31299	8	29	term	term	NOUN
fbem-31299	8	30	value	value	NOUN
fbem-31299	8	31	-	-	PUNCT
fbem-31299	8	32	oriented	orient	VERB
fbem-31299	8	33	decisions	decision	NOUN
fbem-31299	8	34	,	,	PUNCT
fbem-31299	8	35	thereby	thereby	ADV
fbem-31299	8	36	expanding	expand	VERB
fbem-31299	8	37	the	the	DET
fbem-31299	8	38	financial	financial	ADJ
fbem-31299	8	39	economics	economic	NOUN
fbem-31299	8	40	perspective	perspective	NOUN
fbem-31299	8	41	on	on	ADP
fbem-31299	8	42	enterprise	enterprise	NOUN
fbem-31299	8	43	resilience	resilience	NOUN
fbem-31299	8	44	research	research	NOUN
fbem-31299	8	45	.	.	PUNCT
fbem-31299	9	1	keywords	keyword	NOUN
fbem-31299	9	2	:	:	PUNCT
fbem-31299	9	3	patient	patient	ADJ
fbem-31299	9	4	capital	capital	NOUN
fbem-31299	9	5	;	;	PUNCT
fbem-31299	9	6	enterprise	enterprise	NOUN
fbem-31299	9	7	resilience	resilience	NOUN
fbem-31299	9	8	;	;	PUNCT
fbem-31299	9	9	innovation	innovation	NOUN
fbem-31299	9	10	performance	performance	NOUN
fbem-31299	9	11	;	;	PUNCT
fbem-31299	9	12	heterogeneity	heterogeneity	NOUN
fbem-31299	9	13	analysis	analysis	NOUN
fbem-31299	9	14	.	.	PUNCT
fbem-31299	10	1	1	1	X
fbem-31299	10	2	.	.	X
fbem-31299	10	3	introduction	introduction	NOUN
fbem-31299	10	4	in	in	ADP
fbem-31299	10	5	recent	recent	ADJ
fbem-31299	10	6	years	year	NOUN
fbem-31299	10	7	,	,	PUNCT
fbem-31299	10	8	global	global	ADJ
fbem-31299	10	9	economic	economic	ADJ
fbem-31299	10	10	uncertainty	uncertainty	NOUN
fbem-31299	10	11	has	have	AUX
fbem-31299	10	12	significantly	significantly	ADV
fbem-31299	10	13	increased	increase	VERB
fbem-31299	10	14	due	due	ADP
fbem-31299	10	15	to	to	ADP
fbem-31299	10	16	frequent	frequent	ADJ
fbem-31299	10	17	"	"	PUNCT
fbem-31299	10	18	black	black	ADJ
fbem-31299	10	19	swan	swan	NOUN
fbem-31299	10	20	"	"	PUNCT
fbem-31299	10	21	events	event	NOUN
fbem-31299	10	22	such	such	ADJ
fbem-31299	10	23	as	as	ADP
fbem-31299	10	24	trade	trade	NOUN
fbem-31299	10	25	conflicts	conflict	NOUN
fbem-31299	10	26	,	,	PUNCT
fbem-31299	10	27	geopolitical	geopolitical	ADJ
fbem-31299	10	28	tensions	tension	NOUN
fbem-31299	10	29	,	,	PUNCT
fbem-31299	10	30	and	and	CCONJ
fbem-31299	10	31	technological	technological	ADJ
fbem-31299	10	32	blockades	blockade	NOUN
fbem-31299	10	33	.	.	PUNCT
fbem-31299	11	1	against	against	ADP
fbem-31299	11	2	this	this	DET
fbem-31299	11	3	backdrop	backdrop	NOUN
fbem-31299	11	4	,	,	PUNCT
fbem-31299	11	5	enterprise	enterprise	NOUN
fbem-31299	11	6	resilience	resilience	NOUN
fbem-31299	11	7	—	—	PUNCT
fbem-31299	11	8	defined	define	VERB
fbem-31299	11	9	as	as	ADP
fbem-31299	11	10	the	the	DET
fbem-31299	11	11	ability	ability	NOUN
fbem-31299	11	12	to	to	PART
fbem-31299	11	13	withstand	withstand	VERB
fbem-31299	11	14	shocks	shock	NOUN
fbem-31299	11	15	,	,	PUNCT
fbem-31299	11	16	adapt	adapt	VERB
fbem-31299	11	17	to	to	ADP
fbem-31299	11	18	changes	change	NOUN
fbem-31299	11	19	,	,	PUNCT
fbem-31299	11	20	and	and	CCONJ
fbem-31299	11	21	achieve	achieve	VERB
fbem-31299	11	22	sustainable	sustainable	ADJ
fbem-31299	11	23	growth	growth	NOUN
fbem-31299	11	24	—	—	PUNCT
fbem-31299	11	25	has	have	AUX
fbem-31299	11	26	emerged	emerge	VERB
fbem-31299	11	27	as	as	ADP
fbem-31299	11	28	a	a	DET
fbem-31299	11	29	central	central	ADJ
fbem-31299	11	30	issue	issue	NOUN
fbem-31299	11	31	for	for	ADP
fbem-31299	11	32	academia	academia	NOUN
fbem-31299	11	33	and	and	CCONJ
fbem-31299	11	34	policymakers	policymaker	NOUN
fbem-31299	11	35	.	.	PUNCT
fbem-31299	12	1	the	the	DET
fbem-31299	12	2	20th	20th	ADJ
fbem-31299	12	3	national	national	ADJ
fbem-31299	12	4	congress	congress	PROPN
fbem-31299	12	5	of	of	ADP
fbem-31299	12	6	the	the	DET
fbem-31299	12	7	communist	communist	PROPN
fbem-31299	12	8	party	party	PROPN
fbem-31299	12	9	of	of	ADP
fbem-31299	12	10	china	china	PROPN
fbem-31299	12	11	emphasized	emphasize	VERB
fbem-31299	12	12	"	"	PUNCT
fbem-31299	12	13	accelerating	accelerate	VERB
fbem-31299	12	14	the	the	DET
fbem-31299	12	15	construction	construction	NOUN
fbem-31299	12	16	of	of	ADP
fbem-31299	12	17	a	a	DET
fbem-31299	12	18	manufacturing	manufacturing	NOUN
fbem-31299	12	19	powerhouse	powerhouse	NOUN
fbem-31299	12	20	,	,	PUNCT
fbem-31299	12	21	"	"	PUNCT
fbem-31299	12	22	highlighting	highlight	VERB
fbem-31299	12	23	the	the	DET
fbem-31299	12	24	importance	importance	NOUN
fbem-31299	12	25	of	of	ADP
fbem-31299	12	26	the	the	DET
fbem-31299	12	27	real	real	ADJ
fbem-31299	12	28	economy	economy	NOUN
fbem-31299	12	29	in	in	ADP
fbem-31299	12	30	shaping	shape	VERB
fbem-31299	12	31	future	future	ADJ
fbem-31299	12	32	strategic	strategic	ADJ
fbem-31299	12	33	advantages	advantage	NOUN
fbem-31299	12	34	.	.	PUNCT
fbem-31299	13	1	however	however	ADV
fbem-31299	13	2	,	,	PUNCT
fbem-31299	13	3	enhancing	enhance	VERB
fbem-31299	13	4	the	the	DET
fbem-31299	13	5	resilience	resilience	NOUN
fbem-31299	13	6	of	of	ADP
fbem-31299	13	7	manufacturing	manufacturing	NOUN
fbem-31299	13	8	enterprises	enterprise	NOUN
fbem-31299	13	9	remains	remain	VERB
fbem-31299	13	10	a	a	DET
fbem-31299	13	11	pressing	press	VERB
fbem-31299	13	12	challenge	challenge	NOUN
fbem-31299	13	13	.	.	PUNCT
fbem-31299	14	1	simultaneously	simultaneously	ADV
fbem-31299	14	2	,	,	PUNCT
fbem-31299	14	3	the	the	DET
fbem-31299	14	4	conflict	conflict	NOUN
fbem-31299	14	5	between	between	ADP
fbem-31299	14	6	capital	capital	NOUN
fbem-31299	14	7	market	market	NOUN
fbem-31299	14	8	shorttermism	shorttermism	NOUN
fbem-31299	14	9	and	and	CCONJ
fbem-31299	14	10	long	long	ADJ
fbem-31299	14	11	-	-	PUNCT
fbem-31299	14	12	term	term	NOUN
fbem-31299	14	13	enterprise	enterprise	NOUN
fbem-31299	14	14	development	development	NOUN
fbem-31299	14	15	has	have	AUX
fbem-31299	14	16	intensified	intensify	VERB
fbem-31299	14	17	.	.	PUNCT
fbem-31299	15	1	traditional	traditional	ADJ
fbem-31299	15	2	capital	capital	NOUN
fbem-31299	15	3	often	often	ADV
fbem-31299	15	4	prioritizes	prioritize	VERB
fbem-31299	15	5	immediate	immediate	ADJ
fbem-31299	15	6	returns	return	NOUN
fbem-31299	15	7	over	over	ADP
fbem-31299	15	8	long	long	ADJ
fbem-31299	15	9	-	-	PUNCT
fbem-31299	15	10	term	term	NOUN
fbem-31299	15	11	value	value	NOUN
fbem-31299	15	12	creation	creation	NOUN
fbem-31299	15	13	,	,	PUNCT
fbem-31299	15	14	constraining	constrain	VERB
fbem-31299	15	15	innovation	innovation	NOUN
fbem-31299	15	16	and	and	CCONJ
fbem-31299	15	17	strategic	strategic	ADJ
fbem-31299	15	18	adjustments	adjustment	NOUN
fbem-31299	15	19	.	.	PUNCT
fbem-31299	16	1	in	in	ADP
fbem-31299	16	2	response	response	NOUN
fbem-31299	16	3	,	,	PUNCT
fbem-31299	16	4	chinese	chinese	ADJ
fbem-31299	16	5	policymakers	policymaker	NOUN
fbem-31299	16	6	have	have	AUX
fbem-31299	16	7	advocated	advocate	VERB
fbem-31299	16	8	for	for	ADP
fbem-31299	16	9	"	"	PUNCT
fbem-31299	16	10	patient	patient	ADJ
fbem-31299	16	11	capital	capital	NOUN
fbem-31299	16	12	"	"	PUNCT
fbem-31299	16	13	to	to	PART
fbem-31299	16	14	align	align	VERB
fbem-31299	16	15	financial	financial	ADJ
fbem-31299	16	16	support	support	NOUN
fbem-31299	16	17	with	with	ADP
fbem-31299	16	18	long	long	ADJ
fbem-31299	16	19	-	-	PUNCT
fbem-31299	16	20	term	term	NOUN
fbem-31299	16	21	industrial	industrial	ADJ
fbem-31299	16	22	development	development	NOUN
fbem-31299	16	23	.	.	PUNCT
fbem-31299	17	1	patient	patient	ADJ
fbem-31299	17	2	capital	capital	NOUN
fbem-31299	17	3	,	,	PUNCT
fbem-31299	17	4	characterized	characterize	VERB
fbem-31299	17	5	by	by	ADP
fbem-31299	17	6	long	long	ADJ
fbem-31299	17	7	-	-	PUNCT
fbem-31299	17	8	term	term	NOUN
fbem-31299	17	9	orientation	orientation	NOUN
fbem-31299	17	10	,	,	PUNCT
fbem-31299	17	11	risk	risk	NOUN
fbem-31299	17	12	tolerance	tolerance	NOUN
fbem-31299	17	13	,	,	PUNCT
fbem-31299	17	14	and	and	CCONJ
fbem-31299	17	15	relational	relational	ADJ
fbem-31299	17	16	embeddedness	embeddedness	NOUN
fbem-31299	17	17	,	,	PUNCT
fbem-31299	17	18	mitigates	mitigate	VERB
fbem-31299	17	19	financing	financing	NOUN
fbem-31299	17	20	constraints	constraint	NOUN
fbem-31299	17	21	,	,	PUNCT
fbem-31299	17	22	fosters	foster	VERB
fbem-31299	17	23	innovation	innovation	NOUN
fbem-31299	17	24	,	,	PUNCT
fbem-31299	17	25	and	and	CCONJ
fbem-31299	17	26	improves	improve	VERB
fbem-31299	17	27	corporate	corporate	ADJ
fbem-31299	17	28	governance	governance	NOUN
fbem-31299	17	29	[	[	X
fbem-31299	17	30	1	1	NUM
fbem-31299	17	31	]	]	PUNCT
fbem-31299	17	32	.	.	PUNCT
fbem-31299	18	1	yet	yet	ADV
fbem-31299	18	2	,	,	PUNCT
fbem-31299	18	3	how	how	SCONJ
fbem-31299	18	4	patient	patient	ADJ
fbem-31299	18	5	capital	capital	NOUN
fbem-31299	18	6	specifically	specifically	ADV
fbem-31299	18	7	influences	influence	VERB
fbem-31299	18	8	enterprise	enterprise	NOUN
fbem-31299	18	9	resilience	resilience	NOUN
fbem-31299	18	10	—	—	PUNCT
fbem-31299	18	11	particularly	particularly	ADV
fbem-31299	18	12	its	its	PRON
fbem-31299	18	13	mechanisms	mechanism	NOUN
fbem-31299	18	14	and	and	CCONJ
fbem-31299	18	15	boundary	boundary	ADJ
fbem-31299	18	16	conditions	condition	NOUN
fbem-31299	18	17	—	—	PUNCT
fbem-31299	18	18	remains	remain	VERB
fbem-31299	18	19	underexplored	underexplored	ADJ
fbem-31299	18	20	.	.	PUNCT
fbem-31299	19	1	existing	exist	VERB
fbem-31299	19	2	research	research	NOUN
fbem-31299	19	3	on	on	ADP
fbem-31299	19	4	enterprise	enterprise	NOUN
fbem-31299	19	5	resilience	resilience	NOUN
fbem-31299	19	6	focuses	focus	VERB
fbem-31299	19	7	on	on	ADP
fbem-31299	19	8	internal	internal	ADJ
fbem-31299	19	9	factors	factor	NOUN
fbem-31299	19	10	like	like	ADP
fbem-31299	19	11	digital	digital	ADJ
fbem-31299	19	12	transformation	transformation	NOUN
fbem-31299	19	13	[	[	X
fbem-31299	19	14	2	2	NUM
fbem-31299	19	15	]	]	PUNCT
fbem-31299	19	16	and	and	CCONJ
fbem-31299	19	17	esg	esg	NOUN
fbem-31299	19	18	performance	performance	NOUN
fbem-31299	19	19	[	[	X
fbem-31299	19	20	3	3	NUM
fbem-31299	19	21	]	]	PUNCT
fbem-31299	19	22	,	,	PUNCT
fbem-31299	19	23	while	while	SCONJ
fbem-31299	19	24	neglecting	neglect	VERB
fbem-31299	19	25	the	the	DET
fbem-31299	19	26	role	role	NOUN
fbem-31299	19	27	of	of	ADP
fbem-31299	19	28	capital	capital	NOUN
fbem-31299	19	29	structure	structure	NOUN
fbem-31299	19	30	.	.	PUNCT
fbem-31299	20	1	although	although	SCONJ
fbem-31299	20	2	some	some	DET
fbem-31299	20	3	studies	study	NOUN
fbem-31299	20	4	suggest	suggest	VERB
fbem-31299	20	5	that	that	SCONJ
fbem-31299	20	6	internal	internal	ADJ
fbem-31299	20	7	capital	capital	NOUN
fbem-31299	20	8	markets	market	NOUN
fbem-31299	20	9	[	[	X
fbem-31299	20	10	4	4	X
fbem-31299	20	11	]	]	PUNCT
fbem-31299	20	12	and	and	CCONJ
fbem-31299	20	13	stable	stable	ADJ
fbem-31299	20	14	equity	equity	NOUN
fbem-31299	20	15	structures	structure	NOUN
fbem-31299	20	16	[	[	X
fbem-31299	20	17	7	7	X
fbem-31299	20	18	]	]	PUNCT
fbem-31299	20	19	may	may	AUX
fbem-31299	20	20	affect	affect	VERB
fbem-31299	20	21	resilience	resilience	NOUN
fbem-31299	20	22	,	,	PUNCT
fbem-31299	20	23	systematic	systematic	ADJ
fbem-31299	20	24	analysis	analysis	NOUN
fbem-31299	20	25	is	be	AUX
fbem-31299	20	26	lacking	lack	VERB
fbem-31299	20	27	.	.	PUNCT
fbem-31299	21	1	moreover	moreover	ADV
fbem-31299	21	2	,	,	PUNCT
fbem-31299	21	3	patient	patient	ADJ
fbem-31299	21	4	capital	capital	NOUN
fbem-31299	21	5	research	research	NOUN
fbem-31299	21	6	predominantly	predominantly	ADV
fbem-31299	21	7	examines	examine	VERB
fbem-31299	21	8	its	its	PRON
fbem-31299	21	9	direct	direct	ADJ
fbem-31299	21	10	impact	impact	NOUN
fbem-31299	21	11	on	on	ADP
fbem-31299	21	12	innovation	innovation	NOUN
fbem-31299	21	13	efficiency	efficiency	NOUN
fbem-31299	21	14	[	[	X
fbem-31299	21	15	8	8	NUM
fbem-31299	21	16	]	]	PUNCT
fbem-31299	21	17	,	,	PUNCT
fbem-31299	21	18	overlooking	overlook	VERB
fbem-31299	21	19	its	its	PRON
fbem-31299	21	20	potential	potential	NOUN
fbem-31299	21	21	in	in	ADP
fbem-31299	21	22	dynamic	dynamic	ADJ
fbem-31299	21	23	capability	capability	NOUN
fbem-31299	21	24	-	-	PUNCT
fbem-31299	21	25	building	building	NOUN
fbem-31299	21	26	and	and	CCONJ
fbem-31299	21	27	crisis	crisis	NOUN
fbem-31299	21	28	response	response	NOUN
fbem-31299	21	29	.	.	PUNCT
fbem-31299	22	1	crucially	crucially	ADV
fbem-31299	22	2	,	,	PUNCT
fbem-31299	22	3	the	the	DET
fbem-31299	22	4	mediating	mediate	VERB
fbem-31299	22	5	mechanisms	mechanism	NOUN
fbem-31299	22	6	(	(	PUNCT
fbem-31299	22	7	e.g.	e.g.	ADV
fbem-31299	22	8	,	,	PUNCT
fbem-31299	22	9	innovation	innovation	NOUN
fbem-31299	22	10	efficiency	efficiency	NOUN
fbem-31299	22	11	,	,	PUNCT
fbem-31299	22	12	financing	financing	NOUN
fbem-31299	22	13	constraints	constraint	NOUN
fbem-31299	22	14	)	)	PUNCT
fbem-31299	22	15	and	and	CCONJ
fbem-31299	22	16	moderating	moderate	VERB
fbem-31299	22	17	conditions	condition	NOUN
fbem-31299	22	18	(	(	PUNCT
fbem-31299	22	19	e.g.	e.g.	ADV
fbem-31299	22	20	,	,	PUNCT
fbem-31299	22	21	agency	agency	NOUN
fbem-31299	22	22	costs	cost	NOUN
fbem-31299	22	23	)	)	PUNCT
fbem-31299	22	24	remain	remain	VERB
fbem-31299	22	25	insufficiently	insufficiently	ADV
fbem-31299	22	26	explored	explore	VERB
fbem-31299	22	27	,	,	PUNCT
fbem-31299	22	28	limiting	limit	VERB
fbem-31299	22	29	actionable	actionable	ADJ
fbem-31299	22	30	policy	policy	NOUN
fbem-31299	22	31	insights	insight	NOUN
fbem-31299	22	32	.	.	PUNCT
fbem-31299	23	1	this	this	DET
fbem-31299	23	2	study	study	NOUN
fbem-31299	23	3	addresses	address	VERB
fbem-31299	23	4	these	these	DET
fbem-31299	23	5	gaps	gap	NOUN
fbem-31299	23	6	by	by	ADP
fbem-31299	23	7	analyzing	analyze	VERB
fbem-31299	23	8	a	a	DET
fbem-31299	23	9	-	-	PUNCT
fbem-31299	23	10	share	share	NOUN
fbem-31299	23	11	manufacturing	manufacturing	NOUN
fbem-31299	23	12	listed	list	VERB
fbem-31299	23	13	companies	company	NOUN
fbem-31299	23	14	(	(	PUNCT
fbem-31299	23	15	2012–2023	2012–2023	NUM
fbem-31299	23	16	)	)	PUNCT
fbem-31299	23	17	through	through	ADP
fbem-31299	23	18	panel	panel	NOUN
fbem-31299	23	19	data	datum	NOUN
fbem-31299	23	20	models	model	NOUN
fbem-31299	23	21	,	,	PUNCT
fbem-31299	23	22	fixed	fix	VERB
fbem-31299	23	23	-	-	PUNCT
fbem-31299	23	24	effects	effect	NOUN
fbem-31299	23	25	regression	regression	NOUN
fbem-31299	23	26	,	,	PUNCT
fbem-31299	23	27	instrumental	instrumental	ADJ
fbem-31299	23	28	variable	variable	ADJ
fbem-31299	23	29	methods	method	NOUN
fbem-31299	23	30	,	,	PUNCT
fbem-31299	23	31	and	and	CCONJ
fbem-31299	23	32	mediation	mediation	NOUN
fbem-31299	23	33	/	/	SYM
fbem-31299	23	34	moderation	moderation	NOUN
fbem-31299	23	35	analyses	analysis	NOUN
fbem-31299	23	36	.	.	PUNCT
fbem-31299	24	1	key	key	ADJ
fbem-31299	24	2	findings	finding	NOUN
fbem-31299	24	3	include	include	VERB
fbem-31299	24	4	:	:	PUNCT
fbem-31299	24	5	patient	patient	ADJ
fbem-31299	24	6	capital	capital	NOUN
fbem-31299	24	7	significantly	significantly	ADV
fbem-31299	24	8	enhances	enhance	VERB
fbem-31299	24	9	enterprise	enterprise	NOUN
fbem-31299	24	10	resilience	resilience	NOUN
fbem-31299	24	11	,	,	PUNCT
fbem-31299	24	12	even	even	ADV
fbem-31299	24	13	after	after	ADP
fbem-31299	24	14	addressing	address	VERB
fbem-31299	24	15	endogeneity	endogeneity	NOUN
fbem-31299	24	16	.	.	PUNCT
fbem-31299	25	1	innovation	innovation	NOUN
fbem-31299	25	2	efficiency	efficiency	NOUN
fbem-31299	25	3	and	and	CCONJ
fbem-31299	25	4	financing	financing	NOUN
fbem-31299	25	5	constraints	constraint	NOUN
fbem-31299	25	6	are	be	AUX
fbem-31299	25	7	dual	dual	ADV
fbem-31299	25	8	mediating	mediate	VERB
fbem-31299	25	9	pathways	pathway	NOUN
fbem-31299	25	10	,	,	PUNCT
fbem-31299	25	11	each	each	PRON
fbem-31299	25	12	contributing	contribute	VERB
fbem-31299	25	13	>	>	PROPN
fbem-31299	25	14	30	30	NUM
fbem-31299	25	15	%	%	NOUN
fbem-31299	25	16	.	.	PUNCT
fbem-31299	26	1	high	high	ADJ
fbem-31299	26	2	agency	agency	NOUN
fbem-31299	26	3	costs	cost	NOUN
fbem-31299	26	4	weaken	weaken	VERB
fbem-31299	26	5	the	the	DET
fbem-31299	26	6	positive	positive	ADJ
fbem-31299	26	7	effect	effect	NOUN
fbem-31299	26	8	of	of	ADP
fbem-31299	26	9	patient	patient	ADJ
fbem-31299	26	10	capital	capital	NOUN
fbem-31299	26	11	.	.	PUNCT
fbem-31299	27	1	patient	patient	ADJ
fbem-31299	27	2	capital	capital	NOUN
fbem-31299	27	3	’s	’s	PART
fbem-31299	27	4	impact	impact	NOUN
fbem-31299	27	5	is	be	AUX
fbem-31299	27	6	stronger	strong	ADJ
fbem-31299	27	7	in	in	ADP
fbem-31299	27	8	non	non	ADJ
fbem-31299	27	9	-	-	ADJ
fbem-31299	27	10	digital	digital	ADJ
fbem-31299	27	11	and	and	CCONJ
fbem-31299	27	12	nonhigh	nonhigh	ADJ
fbem-31299	27	13	-	-	PUNCT
fbem-31299	27	14	tech	tech	NOUN
fbem-31299	27	15	sectors	sector	NOUN
fbem-31299	27	16	.	.	PUNCT
fbem-31299	28	1	theoretical	theoretical	ADJ
fbem-31299	28	2	contributions	contribution	NOUN
fbem-31299	28	3	:	:	PUNCT
fbem-31299	28	4	integrates	integrate	VERB
fbem-31299	28	5	resource	resource	NOUN
fbem-31299	28	6	-	-	PUNCT
fbem-31299	28	7	based	base	VERB
fbem-31299	28	8	view	view	NOUN
fbem-31299	28	9	and	and	CCONJ
fbem-31299	28	10	dynamic	dynamic	ADJ
fbem-31299	28	11	capability	capability	NOUN
fbem-31299	28	12	theory	theory	NOUN
fbem-31299	28	13	to	to	PART
fbem-31299	28	14	propose	propose	VERB
fbem-31299	28	15	a	a	DET
fbem-31299	28	16	"	"	PUNCT
fbem-31299	28	17	capital	capital	NOUN
fbem-31299	28	18	attributes	attribute	NOUN
fbem-31299	28	19	→	→	SYM
fbem-31299	28	20	capability	capability	NOUN
fbem-31299	28	21	-	-	PUNCT
fbem-31299	28	22	building	building	NOUN
fbem-31299	28	23	→	→	SYM
fbem-31299	28	24	resilience	resilience	NOUN
fbem-31299	28	25	"	"	PUNCT
fbem-31299	28	26	framework	framework	NOUN
fbem-31299	28	27	.	.	PUNCT
fbem-31299	29	1	identifies	identify	VERB
fbem-31299	29	2	innovation	innovation	NOUN
fbem-31299	29	3	and	and	CCONJ
fbem-31299	29	4	financing	financing	NOUN
fbem-31299	29	5	as	as	ADP
fbem-31299	29	6	dual	dual	ADJ
fbem-31299	29	7	mediating	mediate	VERB
fbem-31299	29	8	mechanisms	mechanism	NOUN
fbem-31299	29	9	.	.	PUNCT
fbem-31299	30	1	offers	offer	VERB
fbem-31299	30	2	industry	industry	NOUN
fbem-31299	30	3	-	-	PUNCT
fbem-31299	30	4	specific	specific	ADJ
fbem-31299	30	5	policy	policy	NOUN
fbem-31299	30	6	recommendations	recommendation	NOUN
fbem-31299	30	7	for	for	ADP
fbem-31299	30	8	capital	capital	NOUN
fbem-31299	30	9	allocation	allocation	NOUN
fbem-31299	30	10	.	.	PUNCT
fbem-31299	31	1	practical	practical	ADJ
fbem-31299	31	2	implications	implication	NOUN
fbem-31299	31	3	:	:	PUNCT
fbem-31299	31	4	policymakers	policymaker	NOUN
fbem-31299	31	5	:	:	PUNCT
fbem-31299	31	6	target	target	VERB
fbem-31299	31	7	patient	patient	ADJ
fbem-31299	31	8	capital	capital	NOUN
fbem-31299	31	9	toward	toward	ADP
fbem-31299	31	10	traditional	traditional	ADJ
fbem-31299	31	11	manufacturing	manufacturing	NOUN
fbem-31299	31	12	via	via	ADP
fbem-31299	31	13	tax	tax	NOUN
fbem-31299	31	14	incentives	incentive	NOUN
fbem-31299	31	15	and	and	CCONJ
fbem-31299	31	16	innovation	innovation	NOUN
fbem-31299	31	17	infrastructure	infrastructure	NOUN
fbem-31299	31	18	.	.	PUNCT
fbem-31299	32	1	enterprises	enterprise	NOUN
fbem-31299	32	2	:	:	PUNCT
fbem-31299	32	3	optimize	optimize	VERB
fbem-31299	32	4	equity	equity	NOUN
fbem-31299	32	5	structures	structure	NOUN
fbem-31299	32	6	and	and	CCONJ
fbem-31299	32	7	reduce	reduce	VERB
fbem-31299	32	8	agency	agency	NOUN
fbem-31299	32	9	costs	cost	NOUN
fbem-31299	32	10	.	.	PUNCT
fbem-31299	33	1	investors	investor	NOUN
fbem-31299	33	2	:	:	PUNCT
fbem-31299	33	3	prioritize	prioritize	VERB
fbem-31299	33	4	firms	firm	NOUN
fbem-31299	33	5	with	with	ADP
fbem-31299	33	6	long	long	ADJ
fbem-31299	33	7	-	-	PUNCT
fbem-31299	33	8	term	term	NOUN
fbem-31299	33	9	capital	capital	NOUN
fbem-31299	33	10	alignment	alignment	NOUN
fbem-31299	33	11	and	and	CCONJ
fbem-31299	33	12	dynamic	dynamic	ADJ
fbem-31299	33	13	capabilities	capability	NOUN
fbem-31299	33	14	.	.	PUNCT
fbem-31299	34	1	106	106	NUM
fbem-31299	34	2	2	2	NUM
fbem-31299	34	3	.	.	PUNCT
fbem-31299	34	4	theoretical	theoretical	ADJ
fbem-31299	34	5	analysis	analysis	NOUN
fbem-31299	34	6	and	and	CCONJ
fbem-31299	34	7	hypotheses	hypothesis	NOUN
fbem-31299	34	8	2.1	2.1	NUM
fbem-31299	34	9	.	.	PUNCT
fbem-31299	35	1	theoretical	theoretical	ADJ
fbem-31299	35	2	foundations	foundation	NOUN
fbem-31299	35	3	2.1.1	2.1.1	NUM
fbem-31299	35	4	.	.	PUNCT
fbem-31299	36	1	concept	concept	NOUN
fbem-31299	36	2	and	and	CCONJ
fbem-31299	36	3	characteristics	characteristic	NOUN
fbem-31299	36	4	of	of	ADP
fbem-31299	36	5	patient	patient	ADJ
fbem-31299	36	6	capital	capital	NOUN
fbem-31299	36	7	patient	patient	NOUN
fbem-31299	36	8	capital	capital	NOUN
fbem-31299	36	9	refers	refer	VERB
fbem-31299	36	10	to	to	ADP
fbem-31299	36	11	an	an	DET
fbem-31299	36	12	investment	investment	NOUN
fbem-31299	36	13	form	form	NOUN
fbem-31299	36	14	that	that	PRON
fbem-31299	36	15	does	do	AUX
fbem-31299	36	16	not	not	PART
fbem-31299	36	17	prioritize	prioritize	VERB
fbem-31299	36	18	short	short	ADJ
fbem-31299	36	19	-	-	PUNCT
fbem-31299	36	20	term	term	NOUN
fbem-31299	36	21	returns	return	NOUN
fbem-31299	36	22	but	but	CCONJ
fbem-31299	36	23	focuses	focus	VERB
fbem-31299	36	24	on	on	ADP
fbem-31299	36	25	long	long	ADJ
fbem-31299	36	26	-	-	PUNCT
fbem-31299	36	27	term	term	NOUN
fbem-31299	36	28	value	value	NOUN
fbem-31299	36	29	creation	creation	NOUN
fbem-31299	36	30	,	,	PUNCT
fbem-31299	36	31	characterized	characterize	VERB
fbem-31299	36	32	by	by	ADP
fbem-31299	36	33	three	three	NUM
fbem-31299	36	34	core	core	NOUN
fbem-31299	36	35	features	feature	NOUN
fbem-31299	36	36	:	:	PUNCT
fbem-31299	36	37	long	long	ADJ
fbem-31299	36	38	-	-	PUNCT
fbem-31299	36	39	term	term	NOUN
fbem-31299	36	40	orientation	orientation	NOUN
fbem-31299	36	41	,	,	PUNCT
fbem-31299	36	42	risk	risk	NOUN
fbem-31299	36	43	tolerance	tolerance	NOUN
fbem-31299	36	44	,	,	PUNCT
fbem-31299	36	45	and	and	CCONJ
fbem-31299	36	46	relational	relational	ADJ
fbem-31299	36	47	embeddedness	embeddedness	NOUN
fbem-31299	36	48	[	[	X
fbem-31299	36	49	1	1	NUM
fbem-31299	36	50	]	]	PUNCT
fbem-31299	36	51	.	.	PUNCT
fbem-31299	37	1	its	its	PRON
fbem-31299	37	2	connotation	connotation	NOUN
fbem-31299	37	3	can	can	AUX
fbem-31299	37	4	be	be	AUX
fbem-31299	37	5	analyzed	analyze	VERB
fbem-31299	37	6	through	through	ADP
fbem-31299	37	7	the	the	DET
fbem-31299	37	8	following	follow	VERB
fbem-31299	37	9	dimensions	dimension	NOUN
fbem-31299	37	10	:	:	PUNCT
fbem-31299	37	11	long	long	ADJ
fbem-31299	37	12	-	-	PUNCT
fbem-31299	37	13	term	term	NOUN
fbem-31299	37	14	orientation	orientation	NOUN
fbem-31299	37	15	:	:	PUNCT
fbem-31299	37	16	the	the	DET
fbem-31299	37	17	investment	investment	NOUN
fbem-31299	37	18	cycle	cycle	NOUN
fbem-31299	37	19	typically	typically	ADV
fbem-31299	37	20	spans	span	VERB
fbem-31299	37	21	over	over	ADP
fbem-31299	37	22	5	5	NUM
fbem-31299	37	23	years	year	NOUN
fbem-31299	37	24	,	,	PUNCT
fbem-31299	37	25	supporting	support	VERB
fbem-31299	37	26	long	long	ADJ
fbem-31299	37	27	-	-	PUNCT
fbem-31299	37	28	cycle	cycle	NOUN
fbem-31299	37	29	projects	project	NOUN
fbem-31299	37	30	such	such	ADJ
fbem-31299	37	31	as	as	ADP
fbem-31299	37	32	technology	technology	NOUN
fbem-31299	37	33	r&d	r&d	NOUN
fbem-31299	37	34	and	and	CCONJ
fbem-31299	37	35	infrastructure	infrastructure	NOUN
fbem-31299	37	36	development	development	NOUN
fbem-31299	37	37	(	(	PUNCT
fbem-31299	37	38	e.g.	e.g.	ADV
fbem-31299	37	39	,	,	PUNCT
fbem-31299	37	40	semiconductors	semiconductor	NOUN
fbem-31299	37	41	,	,	PUNCT
fbem-31299	37	42	biomedicine	biomedicine	NOUN
fbem-31299	37	43	)	)	PUNCT
fbem-31299	38	1	[	[	X
fbem-31299	38	2	7	7	NUM
fbem-31299	38	3	]	]	PUNCT
fbem-31299	38	4	.	.	PUNCT
fbem-31299	39	1	risk	risk	NOUN
fbem-31299	39	2	tolerance	tolerance	NOUN
fbem-31299	39	3	:	:	PUNCT
fbem-31299	39	4	accepts	accept	VERB
fbem-31299	39	5	innovation	innovation	NOUN
fbem-31299	39	6	failures	failure	NOUN
fbem-31299	39	7	and	and	CCONJ
fbem-31299	39	8	market	market	NOUN
fbem-31299	39	9	fluctuations	fluctuation	NOUN
fbem-31299	39	10	while	while	SCONJ
fbem-31299	39	11	avoiding	avoid	VERB
fbem-31299	39	12	maturity	maturity	NOUN
fbem-31299	39	13	mismatches	mismatch	NOUN
fbem-31299	39	14	like	like	ADP
fbem-31299	39	15	"	"	PUNCT
fbem-31299	39	16	shortterm	shortterm	VERB
fbem-31299	39	17	loans	loan	NOUN
fbem-31299	39	18	for	for	ADP
fbem-31299	39	19	long	long	ADJ
fbem-31299	39	20	-	-	PUNCT
fbem-31299	39	21	term	term	NOUN
fbem-31299	39	22	investments	investment	NOUN
fbem-31299	39	23	"	"	PUNCT
fbem-31299	39	24	[	[	X
fbem-31299	39	25	7	7	NUM
fbem-31299	39	26	]	]	PUNCT
fbem-31299	39	27	.	.	PUNCT
fbem-31299	40	1	relational	relational	ADJ
fbem-31299	40	2	embeddedness	embeddedness	NOUN
fbem-31299	40	3	:	:	PUNCT
fbem-31299	40	4	establishes	establish	VERB
fbem-31299	40	5	long	long	ADJ
fbem-31299	40	6	-	-	PUNCT
fbem-31299	40	7	term	term	NOUN
fbem-31299	40	8	partnerships	partnership	NOUN
fbem-31299	40	9	through	through	ADP
fbem-31299	40	10	deep	deep	ADJ
fbem-31299	40	11	engagement	engagement	NOUN
fbem-31299	40	12	in	in	ADP
fbem-31299	40	13	corporate	corporate	ADJ
fbem-31299	40	14	governance	governance	NOUN
fbem-31299	40	15	(	(	PUNCT
fbem-31299	40	16	e.g.	e.g.	ADV
fbem-31299	40	17	,	,	PUNCT
fbem-31299	40	18	board	board	NOUN
fbem-31299	40	19	seats	seat	NOUN
fbem-31299	40	20	,	,	PUNCT
fbem-31299	40	21	strategic	strategic	ADJ
fbem-31299	40	22	oversight	oversight	NOUN
fbem-31299	40	23	)	)	PUNCT
fbem-31299	40	24	,	,	PUNCT
fbem-31299	40	25	thereby	thereby	ADV
fbem-31299	40	26	reducing	reduce	VERB
fbem-31299	40	27	information	information	NOUN
fbem-31299	40	28	asymmetry	asymmetry	NOUN
fbem-31299	40	29	[	[	X
fbem-31299	40	30	8	8	NUM
fbem-31299	40	31	]	]	PUNCT
fbem-31299	40	32	.	.	PUNCT
fbem-31299	41	1	its	its	PRON
fbem-31299	41	2	core	core	ADJ
fbem-31299	41	3	characteristic	characteristic	NOUN
fbem-31299	41	4	lies	lie	VERB
fbem-31299	41	5	in	in	ADP
fbem-31299	41	6	providing	provide	VERB
fbem-31299	41	7	long	long	ADJ
fbem-31299	41	8	-	-	PUNCT
fbem-31299	41	9	term	term	NOUN
fbem-31299	41	10	stable	stable	ADJ
fbem-31299	41	11	financial	financial	ADJ
fbem-31299	41	12	support	support	NOUN
fbem-31299	41	13	,	,	PUNCT
fbem-31299	41	14	encouraging	encourage	VERB
fbem-31299	41	15	enterprises	enterprise	NOUN
fbem-31299	41	16	to	to	PART
fbem-31299	41	17	make	make	VERB
fbem-31299	41	18	substantial	substantial	ADJ
fbem-31299	41	19	investments	investment	NOUN
fbem-31299	41	20	in	in	ADP
fbem-31299	41	21	talent	talent	NOUN
fbem-31299	41	22	development	development	NOUN
fbem-31299	41	23	,	,	PUNCT
fbem-31299	41	24	risk	risk	NOUN
fbem-31299	41	25	management	management	NOUN
fbem-31299	41	26	,	,	PUNCT
fbem-31299	41	27	and	and	CCONJ
fbem-31299	41	28	innovation	innovation	NOUN
fbem-31299	41	29	-	-	PUNCT
fbem-31299	41	30	driven	drive	VERB
fbem-31299	41	31	initiatives	initiative	NOUN
fbem-31299	41	32	.	.	PUNCT
fbem-31299	42	1	according	accord	VERB
fbem-31299	42	2	to	to	ADP
fbem-31299	42	3	the	the	DET
fbem-31299	42	4	resourcebased	resourcebased	ADJ
fbem-31299	42	5	view	view	NOUN
fbem-31299	42	6	,	,	PUNCT
fbem-31299	42	7	as	as	ADP
fbem-31299	42	8	a	a	DET
fbem-31299	42	9	scarce	scarce	ADJ
fbem-31299	42	10	resource	resource	NOUN
fbem-31299	42	11	,	,	PUNCT
fbem-31299	42	12	patient	patient	ADJ
fbem-31299	42	13	capital	capital	NOUN
fbem-31299	42	14	can	can	AUX
fbem-31299	42	15	enhance	enhance	VERB
fbem-31299	42	16	a	a	DET
fbem-31299	42	17	firm	firm	NOUN
fbem-31299	42	18	's	's	PART
fbem-31299	42	19	dynamic	dynamic	ADJ
fbem-31299	42	20	capabilities	capability	NOUN
fbem-31299	42	21	through	through	ADP
fbem-31299	42	22	stable	stable	ADJ
fbem-31299	42	23	funding	funding	NOUN
fbem-31299	42	24	and	and	CCONJ
fbem-31299	42	25	governance	governance	NOUN
fbem-31299	42	26	optimization	optimization	NOUN
fbem-31299	42	27	[	[	X
fbem-31299	42	28	11	11	NUM
fbem-31299	42	29	]	]	PUNCT
fbem-31299	42	30	.	.	PUNCT
fbem-31299	43	1	lin	lin	PROPN
fbem-31299	43	2	et	et	PROPN
fbem-31299	43	3	al	al	PROPN
fbem-31299	43	4	.	.	PUNCT
fbem-31299	44	1	[	[	X
fbem-31299	44	2	1	1	X
fbem-31299	44	3	]	]	PUNCT
fbem-31299	44	4	define	define	VERB
fbem-31299	44	5	patient	patient	ADJ
fbem-31299	44	6	capital	capital	NOUN
fbem-31299	44	7	as	as	ADP
fbem-31299	44	8	"	"	PUNCT
fbem-31299	44	9	relationship	relationship	NOUN
fbem-31299	44	10	-	-	PUNCT
fbem-31299	44	11	based	base	VERB
fbem-31299	44	12	"	"	PUNCT
fbem-31299	44	13	investment	investment	NOUN
fbem-31299	44	14	capital	capital	NOUN
fbem-31299	44	15	that	that	PRON
fbem-31299	44	16	establishes	establish	VERB
fbem-31299	44	17	long	long	ADJ
fbem-31299	44	18	-	-	PUNCT
fbem-31299	44	19	term	term	NOUN
fbem-31299	44	20	oriented	orient	VERB
fbem-31299	44	21	(	(	PUNCT
fbem-31299	44	22	lto	lto	PROPN
fbem-31299	44	23	)	)	PUNCT
fbem-31299	44	24	strategic	strategic	ADJ
fbem-31299	44	25	partnerships	partnership	NOUN
fbem-31299	44	26	with	with	ADP
fbem-31299	44	27	enterprises	enterprise	NOUN
fbem-31299	44	28	to	to	PART
fbem-31299	44	29	share	share	VERB
fbem-31299	44	30	future	future	ADJ
fbem-31299	44	31	development	development	NOUN
fbem-31299	44	32	returns	return	NOUN
fbem-31299	44	33	,	,	PUNCT
fbem-31299	44	34	noting	note	VERB
fbem-31299	44	35	that	that	SCONJ
fbem-31299	44	36	such	such	ADJ
fbem-31299	44	37	capital	capital	NOUN
fbem-31299	44	38	primarily	primarily	ADV
fbem-31299	44	39	originates	originate	VERB
fbem-31299	44	40	from	from	ADP
fbem-31299	44	41	banking	banking	NOUN
fbem-31299	44	42	sectors	sector	NOUN
fbem-31299	44	43	and	and	CCONJ
fbem-31299	44	44	institutional	institutional	ADJ
fbem-31299	44	45	investors	investor	NOUN
fbem-31299	44	46	.	.	PUNCT
fbem-31299	45	1	2.1.2	2.1.2	X
fbem-31299	45	2	.	.	PUNCT
fbem-31299	45	3	the	the	DET
fbem-31299	45	4	concept	concept	NOUN
fbem-31299	45	5	and	and	CCONJ
fbem-31299	45	6	influencing	influence	VERB
fbem-31299	45	7	factors	factor	NOUN
fbem-31299	45	8	of	of	ADP
fbem-31299	45	9	enterprise	enterprise	NOUN
fbem-31299	45	10	resilience	resilience	NOUN
fbem-31299	45	11	the	the	DET
fbem-31299	45	12	study	study	NOUN
fbem-31299	45	13	of	of	ADP
fbem-31299	45	14	enterprise	enterprise	NOUN
fbem-31299	45	15	resilience	resilience	NOUN
fbem-31299	45	16	originated	originate	VERB
fbem-31299	45	17	with	with	ADP
fbem-31299	45	18	meyer	meyer	PROPN
fbem-31299	45	19	(	(	PUNCT
fbem-31299	45	20	1982	1982	NUM
fbem-31299	45	21	)	)	PUNCT
fbem-31299	45	22	,	,	PUNCT
fbem-31299	45	23	who	who	PRON
fbem-31299	45	24	introduced	introduce	VERB
fbem-31299	45	25	the	the	DET
fbem-31299	45	26	concept	concept	NOUN
fbem-31299	45	27	of	of	ADP
fbem-31299	45	28	resilience	resilience	NOUN
fbem-31299	45	29	from	from	ADP
fbem-31299	45	30	physics	physics	NOUN
fbem-31299	45	31	into	into	ADP
fbem-31299	45	32	the	the	DET
fbem-31299	45	33	field	field	NOUN
fbem-31299	45	34	of	of	ADP
fbem-31299	45	35	management	management	NOUN
fbem-31299	45	36	.	.	PUNCT
fbem-31299	46	1	it	it	PRON
fbem-31299	46	2	is	be	AUX
fbem-31299	46	3	now	now	ADV
fbem-31299	46	4	commonly	commonly	ADV
fbem-31299	46	5	defined	define	VERB
fbem-31299	46	6	as	as	ADP
fbem-31299	46	7	an	an	DET
fbem-31299	46	8	enterprise	enterprise	NOUN
fbem-31299	46	9	's	's	PART
fbem-31299	46	10	ability	ability	NOUN
fbem-31299	46	11	to	to	PART
fbem-31299	46	12	maintain	maintain	VERB
fbem-31299	46	13	stability	stability	NOUN
fbem-31299	46	14	and	and	CCONJ
fbem-31299	46	15	recover	recover	VERB
fbem-31299	46	16	during	during	ADP
fbem-31299	46	17	crises	crisis	NOUN
fbem-31299	46	18	[	[	X
fbem-31299	46	19	12	12	NUM
fbem-31299	46	20	]	]	PUNCT
fbem-31299	46	21	.	.	PUNCT
fbem-31299	47	1	the	the	DET
fbem-31299	47	2	influencing	influence	VERB
fbem-31299	47	3	factors	factor	NOUN
fbem-31299	47	4	can	can	AUX
fbem-31299	47	5	be	be	AUX
fbem-31299	47	6	categorized	categorize	VERB
fbem-31299	47	7	into	into	ADP
fbem-31299	47	8	three	three	NUM
fbem-31299	47	9	dimensions	dimension	NOUN
fbem-31299	47	10	:	:	PUNCT
fbem-31299	47	11	external	external	ADJ
fbem-31299	47	12	environment	environment	NOUN
fbem-31299	47	13	:	:	PUNCT
fbem-31299	47	14	institutional	institutional	ADJ
fbem-31299	47	15	environment	environment	NOUN
fbem-31299	47	16	:	:	PUNCT
fbem-31299	47	17	social	social	ADJ
fbem-31299	47	18	trust	trust	NOUN
fbem-31299	48	1	[	[	X
fbem-31299	48	2	13	13	NUM
fbem-31299	48	3	]	]	PUNCT
fbem-31299	48	4	and	and	CCONJ
fbem-31299	48	5	investor	investor	NOUN
fbem-31299	48	6	protection	protection	NOUN
fbem-31299	48	7	mechanisms	mechanism	NOUN
fbem-31299	48	8	[	[	X
fbem-31299	48	9	5	5	NUM
fbem-31299	48	10	]	]	PUNCT
fbem-31299	48	11	enhance	enhance	NOUN
fbem-31299	48	12	resilience	resilience	NOUN
fbem-31299	48	13	by	by	ADP
fbem-31299	48	14	reducing	reduce	VERB
fbem-31299	48	15	transaction	transaction	NOUN
fbem-31299	48	16	costs	cost	NOUN
fbem-31299	48	17	and	and	CCONJ
fbem-31299	48	18	constraining	constrain	VERB
fbem-31299	48	19	major	major	ADJ
fbem-31299	48	20	shareholder	shareholder	NOUN
fbem-31299	48	21	behavior	behavior	NOUN
fbem-31299	48	22	.	.	PUNCT
fbem-31299	49	1	market	market	NOUN
fbem-31299	49	2	environment	environment	NOUN
fbem-31299	49	3	:	:	PUNCT
fbem-31299	49	4	digital	digital	ADJ
fbem-31299	49	5	transformation	transformation	NOUN
fbem-31299	49	6	infrastructure	infrastructure	NOUN
fbem-31299	49	7	[	[	X
fbem-31299	49	8	14	14	NUM
fbem-31299	49	9	]	]	PUNCT
fbem-31299	49	10	and	and	CCONJ
fbem-31299	49	11	industrial	industrial	ADJ
fbem-31299	49	12	chain	chain	NOUN
fbem-31299	49	13	collaboration	collaboration	NOUN
fbem-31299	49	14	[	[	X
fbem-31299	49	15	15	15	NUM
fbem-31299	49	16	]	]	X
fbem-31299	49	17	optimize	optimize	NOUN
fbem-31299	49	18	innovation	innovation	NOUN
fbem-31299	49	19	ecosystems	ecosystem	NOUN
fbem-31299	49	20	and	and	CCONJ
fbem-31299	49	21	emergency	emergency	NOUN
fbem-31299	49	22	response	response	NOUN
fbem-31299	49	23	capabilities	capability	NOUN
fbem-31299	49	24	,	,	PUNCT
fbem-31299	49	25	respectively	respectively	ADV
fbem-31299	49	26	.	.	PUNCT
fbem-31299	50	1	internal	internal	ADJ
fbem-31299	50	2	characteristics	characteristic	NOUN
fbem-31299	50	3	:	:	PUNCT
fbem-31299	50	4	resource	resource	NOUN
fbem-31299	50	5	capabilities	capability	NOUN
fbem-31299	50	6	:	:	PUNCT
fbem-31299	50	7	technological	technological	ADJ
fbem-31299	50	8	diversification	diversification	NOUN
fbem-31299	50	9	[	[	X
fbem-31299	50	10	16	16	NUM
fbem-31299	50	11	]	]	PUNCT
fbem-31299	50	12	and	and	CCONJ
fbem-31299	50	13	innovation	innovation	NOUN
fbem-31299	50	14	investment	investment	NOUN
fbem-31299	50	15	[	[	X
fbem-31299	50	16	17	17	NUM
fbem-31299	50	17	]	]	PUNCT
fbem-31299	50	18	exhibit	exhibit	VERB
fbem-31299	50	19	an	an	DET
fbem-31299	50	20	inverted	inverted	ADJ
fbem-31299	50	21	u	u	ADJ
fbem-31299	50	22	-	-	ADJ
fbem-31299	50	23	shaped	shape	VERB
fbem-31299	50	24	impact	impact	NOUN
fbem-31299	50	25	,	,	PUNCT
fbem-31299	50	26	while	while	SCONJ
fbem-31299	50	27	digital	digital	ADJ
fbem-31299	50	28	transformation	transformation	NOUN
fbem-31299	50	29	(	(	PUNCT
fbem-31299	50	30	fan	fan	PROPN
fbem-31299	50	31	hejun	hejun	PROPN
fbem-31299	50	32	et	et	PROPN
fbem-31299	50	33	al	al	PROPN
fbem-31299	50	34	.	.	PROPN
fbem-31299	50	35	,	,	PUNCT
fbem-31299	50	36	2024	2024	NUM
fbem-31299	50	37	)	)	PUNCT
fbem-31299	50	38	enhances	enhance	VERB
fbem-31299	50	39	risk	risk	NOUN
fbem-31299	50	40	resistance	resistance	NOUN
fbem-31299	50	41	by	by	ADP
fbem-31299	50	42	reshaping	reshape	VERB
fbem-31299	50	43	dynamic	dynamic	ADJ
fbem-31299	50	44	capabilities	capability	NOUN
fbem-31299	50	45	.	.	PUNCT
fbem-31299	51	1	governance	governance	NOUN
fbem-31299	51	2	structure	structure	NOUN
fbem-31299	51	3	:	:	PUNCT
fbem-31299	51	4	internal	internal	ADJ
fbem-31299	51	5	capital	capital	NOUN
fbem-31299	51	6	markets	market	NOUN
fbem-31299	52	1	[	[	X
fbem-31299	52	2	4	4	NUM
fbem-31299	52	3	]	]	PUNCT
fbem-31299	52	4	,	,	PUNCT
fbem-31299	52	5	ceo	ceo	NOUN
fbem-31299	52	6	attention	attention	NOUN
fbem-31299	52	7	allocation	allocation	NOUN
fbem-31299	52	8	[	[	X
fbem-31299	52	9	19	19	NUM
fbem-31299	52	10	]	]	PUNCT
fbem-31299	52	11	,	,	PUNCT
fbem-31299	52	12	and	and	CCONJ
fbem-31299	52	13	esg	esg	NOUN
fbem-31299	52	14	performance	performance	NOUN
fbem-31299	52	15	[	[	X
fbem-31299	52	16	20	20	NUM
fbem-31299	52	17	]	]	PUNCT
fbem-31299	52	18	collectively	collectively	ADV
fbem-31299	52	19	improve	improve	VERB
fbem-31299	52	20	resource	resource	NOUN
fbem-31299	52	21	allocation	allocation	NOUN
fbem-31299	52	22	and	and	CCONJ
fbem-31299	52	23	decision	decision	NOUN
fbem-31299	52	24	-	-	PUNCT
fbem-31299	52	25	making	make	VERB
fbem-31299	52	26	efficiency	efficiency	NOUN
fbem-31299	52	27	.	.	PUNCT
fbem-31299	53	1	organizational	organizational	ADJ
fbem-31299	53	2	management	management	NOUN
fbem-31299	53	3	:	:	PUNCT
fbem-31299	53	4	exploratory	exploratory	ADJ
fbem-31299	53	5	innovation	innovation	NOUN
fbem-31299	54	1	[	[	X
fbem-31299	54	2	21	21	NUM
fbem-31299	54	3	]	]	PUNCT
fbem-31299	54	4	,	,	PUNCT
fbem-31299	54	5	top	top	ADJ
fbem-31299	54	6	management	management	NOUN
fbem-31299	54	7	team	team	NOUN
fbem-31299	54	8	heterogeneity	heterogeneity	NOUN
fbem-31299	54	9	[	[	X
fbem-31299	54	10	22	22	NUM
fbem-31299	54	11	]	]	PUNCT
fbem-31299	54	12	,	,	PUNCT
fbem-31299	54	13	and	and	CCONJ
fbem-31299	54	14	internal	internal	ADJ
fbem-31299	54	15	controls	control	NOUN
fbem-31299	54	16	[	[	X
fbem-31299	54	17	14	14	NUM
fbem-31299	54	18	]	]	PUNCT
fbem-31299	54	19	strengthen	strengthen	VERB
fbem-31299	54	20	innovation	innovation	NOUN
fbem-31299	54	21	efficacy	efficacy	NOUN
fbem-31299	54	22	,	,	PUNCT
fbem-31299	54	23	strategic	strategic	ADJ
fbem-31299	54	24	adaptability	adaptability	NOUN
fbem-31299	54	25	,	,	PUNCT
fbem-31299	54	26	and	and	CCONJ
fbem-31299	54	27	digital	digital	ADJ
fbem-31299	54	28	empowerment	empowerment	NOUN
fbem-31299	54	29	,	,	PUNCT
fbem-31299	54	30	respectively	respectively	ADV
fbem-31299	54	31	.	.	PUNCT
fbem-31299	55	1	interaction	interaction	NOUN
fbem-31299	55	2	effects	effect	NOUN
fbem-31299	55	3	:	:	PUNCT
fbem-31299	55	4	technology	technology	NOUN
fbem-31299	55	5	embargoes	embargo	NOUN
fbem-31299	55	6	[	[	X
fbem-31299	55	7	23	23	NUM
fbem-31299	55	8	]	]	PUNCT
fbem-31299	55	9	stimulate	stimulate	VERB
fbem-31299	55	10	innovation	innovation	NOUN
fbem-31299	55	11	vitality	vitality	NOUN
fbem-31299	55	12	in	in	ADP
fbem-31299	55	13	private	private	ADJ
fbem-31299	55	14	enterprises	enterprise	NOUN
fbem-31299	55	15	.	.	PUNCT
fbem-31299	56	1	social	social	ADJ
fbem-31299	56	2	credit	credit	NOUN
fbem-31299	56	3	[	[	X
fbem-31299	56	4	24	24	NUM
fbem-31299	56	5	]	]	PUNCT
fbem-31299	56	6	compensates	compensate	NOUN
fbem-31299	56	7	for	for	ADP
fbem-31299	56	8	weak	weak	ADJ
fbem-31299	56	9	governance	governance	NOUN
fbem-31299	56	10	in	in	ADP
fbem-31299	56	11	certain	certain	ADJ
fbem-31299	56	12	firms	firm	NOUN
fbem-31299	56	13	.	.	PUNCT
fbem-31299	57	1	digital	digital	ADJ
fbem-31299	57	2	transformation	transformation	NOUN
fbem-31299	58	1	[	[	X
fbem-31299	58	2	25	25	NUM
fbem-31299	58	3	]	]	PUNCT
fbem-31299	58	4	requires	require	VERB
fbem-31299	58	5	synergy	synergy	NOUN
fbem-31299	58	6	with	with	ADP
fbem-31299	58	7	organizational	organizational	ADJ
fbem-31299	58	8	capabilities	capability	NOUN
fbem-31299	58	9	to	to	PART
fbem-31299	58	10	achieve	achieve	VERB
fbem-31299	58	11	resilience	resilience	NOUN
fbem-31299	58	12	breakthroughs	breakthrough	NOUN
fbem-31299	58	13	.	.	PUNCT
fbem-31299	59	1	2.1.3	2.1.3	X
fbem-31299	59	2	.	.	PUNCT
fbem-31299	59	3	theoretical	theoretical	ADJ
fbem-31299	59	4	link	link	NOUN
fbem-31299	59	5	between	between	ADP
fbem-31299	59	6	patient	patient	ADJ
fbem-31299	59	7	capital	capital	NOUN
fbem-31299	59	8	and	and	CCONJ
fbem-31299	59	9	enterprise	enterprise	NOUN
fbem-31299	59	10	resilience	resilience	NOUN
fbem-31299	59	11	based	base	VERB
fbem-31299	59	12	on	on	ADP
fbem-31299	59	13	dynamic	dynamic	ADJ
fbem-31299	59	14	capability	capability	NOUN
fbem-31299	59	15	theory	theory	NOUN
fbem-31299	59	16	,	,	PUNCT
fbem-31299	59	17	the	the	DET
fbem-31299	59	18	enhancing	enhance	VERB
fbem-31299	59	19	effect	effect	NOUN
fbem-31299	59	20	of	of	ADP
fbem-31299	59	21	patient	patient	ADJ
fbem-31299	59	22	capital	capital	NOUN
fbem-31299	59	23	on	on	ADP
fbem-31299	59	24	enterprise	enterprise	NOUN
fbem-31299	59	25	resilience	resilience	NOUN
fbem-31299	59	26	is	be	AUX
fbem-31299	59	27	primarily	primarily	ADV
fbem-31299	59	28	achieved	achieve	VERB
fbem-31299	59	29	through	through	ADP
fbem-31299	59	30	the	the	DET
fbem-31299	59	31	following	follow	VERB
fbem-31299	59	32	mechanisms	mechanism	NOUN
fbem-31299	59	33	:	:	PUNCT
fbem-31299	59	34	first	first	ADV
fbem-31299	59	35	,	,	PUNCT
fbem-31299	59	36	from	from	ADP
fbem-31299	59	37	the	the	DET
fbem-31299	59	38	resource	resource	NOUN
fbem-31299	59	39	provision	provision	NOUN
fbem-31299	59	40	perspective	perspective	NOUN
fbem-31299	59	41	,	,	PUNCT
fbem-31299	59	42	patient	patient	ADJ
fbem-31299	59	43	capital	capital	NOUN
fbem-31299	59	44	effectively	effectively	ADV
fbem-31299	59	45	alleviates	alleviate	VERB
fbem-31299	59	46	corporate	corporate	ADJ
fbem-31299	59	47	financing	financing	NOUN
fbem-31299	59	48	constraints	constraint	NOUN
fbem-31299	59	49	[	[	X
fbem-31299	59	50	4	4	X
fbem-31299	59	51	]	]	PUNCT
fbem-31299	59	52	by	by	ADP
fbem-31299	59	53	providing	provide	VERB
fbem-31299	59	54	stable	stable	ADJ
fbem-31299	59	55	,	,	PUNCT
fbem-31299	59	56	long	long	ADJ
fbem-31299	59	57	-	-	PUNCT
fbem-31299	59	58	term	term	NOUN
fbem-31299	59	59	financial	financial	ADJ
fbem-31299	59	60	support	support	NOUN
fbem-31299	59	61	,	,	PUNCT
fbem-31299	59	62	preventing	prevent	VERB
fbem-31299	59	63	liquidity	liquidity	NOUN
fbem-31299	59	64	crises	crisis	NOUN
fbem-31299	59	65	during	during	ADP
fbem-31299	59	66	economic	economic	ADJ
fbem-31299	59	67	downturns	downturn	NOUN
fbem-31299	59	68	.	.	PUNCT
fbem-31299	60	1	this	this	DET
fbem-31299	60	2	sustained	sustain	VERB
fbem-31299	60	3	financial	financial	ADJ
fbem-31299	60	4	backing	backing	NOUN
fbem-31299	60	5	serves	serve	VERB
fbem-31299	60	6	as	as	ADP
fbem-31299	60	7	a	a	DET
fbem-31299	60	8	critical	critical	ADJ
fbem-31299	60	9	buffer	buffer	NOUN
fbem-31299	60	10	,	,	PUNCT
fbem-31299	60	11	enabling	enable	VERB
fbem-31299	60	12	firms	firm	NOUN
fbem-31299	60	13	to	to	PART
fbem-31299	60	14	withstand	withstand	VERB
fbem-31299	60	15	external	external	ADJ
fbem-31299	60	16	shocks	shock	NOUN
fbem-31299	60	17	.	.	PUNCT
fbem-31299	61	1	second	second	ADJ
fbem-31299	61	2	,	,	PUNCT
fbem-31299	61	3	in	in	ADP
fbem-31299	61	4	terms	term	NOUN
fbem-31299	61	5	of	of	ADP
fbem-31299	61	6	capability	capability	NOUN
fbem-31299	61	7	-	-	PUNCT
fbem-31299	61	8	building	building	NOUN
fbem-31299	61	9	,	,	PUNCT
fbem-31299	61	10	patient	patient	ADJ
fbem-31299	61	11	capital	capital	NOUN
fbem-31299	61	12	facilitates	facilitate	VERB
fbem-31299	61	13	the	the	DET
fbem-31299	61	14	transformation	transformation	NOUN
fbem-31299	61	15	of	of	ADP
fbem-31299	61	16	innovation	innovation	NOUN
fbem-31299	61	17	investments	investment	NOUN
fbem-31299	61	18	into	into	ADP
fbem-31299	61	19	substantive	substantive	ADJ
fbem-31299	61	20	technological	technological	ADJ
fbem-31299	61	21	breakthroughs	breakthrough	NOUN
fbem-31299	61	22	(	(	PUNCT
fbem-31299	61	23	e.g.	e.g.	ADV
fbem-31299	61	24	,	,	PUNCT
fbem-31299	61	25	modular	modular	ADJ
fbem-31299	61	26	innovation	innovation	NOUN
fbem-31299	61	27	and	and	CCONJ
fbem-31299	61	28	other	other	ADJ
fbem-31299	61	29	high	high	ADJ
fbem-31299	61	30	-	-	PUNCT
fbem-31299	61	31	risk	risk	NOUN
fbem-31299	61	32	,	,	PUNCT
fbem-31299	61	33	high	high	ADJ
fbem-31299	61	34	-	-	PUNCT
fbem-31299	61	35	reward	reward	NOUN
fbem-31299	61	36	projects	project	NOUN
fbem-31299	61	37	)	)	PUNCT
fbem-31299	61	38	,	,	PUNCT
fbem-31299	61	39	significantly	significantly	ADV
fbem-31299	61	40	enhancing	enhance	VERB
fbem-31299	61	41	strategic	strategic	ADJ
fbem-31299	61	42	flexibility	flexibility	NOUN
fbem-31299	61	43	[	[	X
fbem-31299	61	44	8	8	NUM
fbem-31299	61	45	]	]	PUNCT
fbem-31299	61	46	.	.	PUNCT
fbem-31299	62	1	this	this	DET
fbem-31299	62	2	capability	capability	NOUN
fbem-31299	62	3	empowers	empower	VERB
fbem-31299	62	4	firms	firm	NOUN
fbem-31299	62	5	to	to	PART
fbem-31299	62	6	adapt	adapt	VERB
fbem-31299	62	7	more	more	ADJ
fbem-31299	62	8	agilely	agilely	ADV
fbem-31299	62	9	to	to	ADP
fbem-31299	62	10	market	market	NOUN
fbem-31299	62	11	shifts	shift	NOUN
fbem-31299	62	12	and	and	CCONJ
fbem-31299	62	13	technological	technological	ADJ
fbem-31299	62	14	disruptions	disruption	NOUN
fbem-31299	62	15	.	.	PUNCT
fbem-31299	63	1	third	third	ADJ
fbem-31299	63	2	,	,	PUNCT
fbem-31299	63	3	at	at	ADP
fbem-31299	63	4	the	the	DET
fbem-31299	63	5	governance	governance	NOUN
fbem-31299	63	6	level	level	NOUN
fbem-31299	63	7	,	,	PUNCT
fbem-31299	63	8	the	the	DET
fbem-31299	63	9	long	long	ADJ
fbem-31299	63	10	-	-	PUNCT
fbem-31299	63	11	term	term	NOUN
fbem-31299	63	12	nature	nature	NOUN
fbem-31299	63	13	of	of	ADP
fbem-31299	63	14	patient	patient	ADJ
fbem-31299	63	15	capital	capital	NOUN
fbem-31299	63	16	helps	helps	AUX
fbem-31299	63	17	curb	curb	VERB
fbem-31299	63	18	managerial	managerial	ADJ
fbem-31299	63	19	short	short	ADJ
fbem-31299	63	20	-	-	PUNCT
fbem-31299	63	21	termism	termism	NOUN
fbem-31299	63	22	[	[	X
fbem-31299	63	23	7	7	NUM
fbem-31299	63	24	]	]	PUNCT
fbem-31299	63	25	.	.	PUNCT
fbem-31299	64	1	by	by	ADP
fbem-31299	64	2	optimizing	optimize	VERB
fbem-31299	64	3	resource	resource	NOUN
fbem-31299	64	4	allocation	allocation	NOUN
fbem-31299	64	5	efficiency	efficiency	NOUN
fbem-31299	64	6	and	and	CCONJ
fbem-31299	64	7	improving	improve	VERB
fbem-31299	64	8	corporate	corporate	ADJ
fbem-31299	64	9	governance	governance	NOUN
fbem-31299	64	10	structures	structure	NOUN
fbem-31299	64	11	,	,	PUNCT
fbem-31299	64	12	it	it	PRON
fbem-31299	64	13	institutionalizes	institutionalize	VERB
fbem-31299	64	14	resilience	resilience	NOUN
fbem-31299	64	15	-	-	PUNCT
fbem-31299	64	16	building	building	NOUN
fbem-31299	64	17	.	.	PUNCT
fbem-31299	65	1	notably	notably	ADV
fbem-31299	65	2	,	,	PUNCT
fbem-31299	65	3	these	these	DET
fbem-31299	65	4	effects	effect	NOUN
fbem-31299	65	5	may	may	AUX
fbem-31299	65	6	be	be	AUX
fbem-31299	65	7	moderated	moderate	VERB
fbem-31299	65	8	by	by	ADP
fbem-31299	65	9	first	first	ADJ
fbem-31299	65	10	-	-	PUNCT
fbem-31299	65	11	tier	tier	NOUN
fbem-31299	65	12	agency	agency	NOUN
fbem-31299	65	13	costs	cost	NOUN
fbem-31299	65	14	.	.	PUNCT
fbem-31299	66	1	existing	exist	VERB
fbem-31299	66	2	research	research	NOUN
fbem-31299	66	3	demonstrates	demonstrate	VERB
fbem-31299	66	4	that	that	SCONJ
fbem-31299	66	5	patient	patient	ADJ
fbem-31299	66	6	capital	capital	NOUN
fbem-31299	66	7	positively	positively	ADV
fbem-31299	66	8	impacts	impact	VERB
fbem-31299	66	9	corporate	corporate	ADJ
fbem-31299	66	10	development	development	NOUN
fbem-31299	66	11	through	through	ADP
fbem-31299	66	12	multiple	multiple	ADJ
fbem-31299	66	13	channels	channel	NOUN
fbem-31299	66	14	,	,	PUNCT
fbem-31299	66	15	including	include	VERB
fbem-31299	66	16	governance	governance	NOUN
fbem-31299	66	17	enhancement	enhancement	NOUN
fbem-31299	66	18	,	,	PUNCT
fbem-31299	66	19	financing	financing	NOUN
fbem-31299	66	20	constraint	constraint	NOUN
fbem-31299	66	21	mitigation	mitigation	NOUN
fbem-31299	66	22	,	,	PUNCT
fbem-31299	66	23	and	and	CCONJ
fbem-31299	66	24	innovation	innovation	NOUN
fbem-31299	66	25	promotion	promotion	NOUN
fbem-31299	66	26	.	.	PUNCT
fbem-31299	67	1	however	however	ADV
fbem-31299	67	2	,	,	PUNCT
fbem-31299	67	3	direct	direct	ADJ
fbem-31299	67	4	studies	study	NOUN
fbem-31299	67	5	on	on	ADP
fbem-31299	67	6	the	the	DET
fbem-31299	67	7	relationship	relationship	NOUN
fbem-31299	67	8	between	between	ADP
fbem-31299	67	9	patient	patient	ADJ
fbem-31299	67	10	capital	capital	NOUN
fbem-31299	67	11	and	and	CCONJ
fbem-31299	67	12	enterprise	enterprise	NOUN
fbem-31299	67	13	resilience	resilience	NOUN
fbem-31299	67	14	remain	remain	VERB
fbem-31299	67	15	scarce	scarce	ADJ
fbem-31299	67	16	.	.	PUNCT
fbem-31299	68	1	in	in	ADP
fbem-31299	68	2	reality	reality	NOUN
fbem-31299	68	3	,	,	PUNCT
fbem-31299	68	4	patient	patient	ADJ
fbem-31299	68	5	capital	capital	NOUN
fbem-31299	68	6	elevates	elevate	VERB
fbem-31299	68	7	resilience	resilience	NOUN
fbem-31299	68	8	precisely	precisely	ADV
fbem-31299	68	9	through	through	ADP
fbem-31299	68	10	its	its	PRON
fbem-31299	68	11	unique	unique	ADJ
fbem-31299	68	12	characteristics	characteristic	NOUN
fbem-31299	68	13	and	and	CCONJ
fbem-31299	68	14	holistic	holistic	ADJ
fbem-31299	68	15	influence	influence	NOUN
fbem-31299	68	16	on	on	ADP
fbem-31299	68	17	firms	firm	NOUN
fbem-31299	68	18	.	.	PUNCT
fbem-31299	69	1	specifically	specifically	ADV
fbem-31299	69	2	,	,	PUNCT
fbem-31299	69	3	patient	patient	ADJ
fbem-31299	69	4	capital	capital	NOUN
fbem-31299	69	5	bolsters	bolster	VERB
fbem-31299	69	6	enterprise	enterprise	NOUN
fbem-31299	69	7	resilience	resilience	NOUN
fbem-31299	69	8	across	across	ADP
fbem-31299	69	9	three	three	NUM
fbem-31299	69	10	key	key	ADJ
fbem-31299	69	11	dimensions	dimension	NOUN
fbem-31299	69	12	:	:	PUNCT
fbem-31299	69	13	stability	stability	NOUN
fbem-31299	69	14	dimension	dimension	NOUN
fbem-31299	69	15	:	:	PUNCT
fbem-31299	69	16	as	as	ADP
fbem-31299	69	17	a	a	DET
fbem-31299	69	18	long	long	ADJ
fbem-31299	69	19	-	-	PUNCT
fbem-31299	69	20	term	term	NOUN
fbem-31299	69	21	funding	funding	NOUN
fbem-31299	69	22	source	source	NOUN
fbem-31299	69	23	,	,	PUNCT
fbem-31299	69	24	patient	patient	ADJ
fbem-31299	69	25	capital	capital	NOUN
fbem-31299	69	26	provides	provide	VERB
fbem-31299	69	27	a	a	DET
fbem-31299	69	28	stable	stable	ADJ
fbem-31299	69	29	foundation	foundation	NOUN
fbem-31299	69	30	for	for	ADP
fbem-31299	69	31	sustained	sustained	ADJ
fbem-31299	69	32	growth	growth	NOUN
fbem-31299	69	33	.	.	PUNCT
fbem-31299	70	1	its	its	PRON
fbem-31299	70	2	focus	focus	NOUN
fbem-31299	70	3	on	on	ADP
fbem-31299	70	4	long	long	ADJ
fbem-31299	70	5	-	-	PUNCT
fbem-31299	70	6	term	term	NOUN
fbem-31299	70	7	value	value	NOUN
fbem-31299	70	8	over	over	ADP
fbem-31299	70	9	short	short	ADJ
fbem-31299	70	10	-	-	PUNCT
fbem-31299	70	11	term	term	NOUN
fbem-31299	70	12	gains	gain	NOUN
fbem-31299	70	13	enables	enable	VERB
fbem-31299	70	14	firms	firm	NOUN
fbem-31299	70	15	to	to	PART
fbem-31299	70	16	maintain	maintain	VERB
fbem-31299	70	17	strategic	strategic	ADJ
fbem-31299	70	18	focus	focus	NOUN
fbem-31299	70	19	,	,	PUNCT
fbem-31299	70	20	preparing	prepare	VERB
fbem-31299	70	21	them	they	PRON
fbem-31299	70	22	for	for	ADP
fbem-31299	70	23	future	future	ADJ
fbem-31299	70	24	challenges	challenge	NOUN
fbem-31299	70	25	.	.	PUNCT
fbem-31299	71	1	risk	risk	NOUN
fbem-31299	71	2	resilience	resilience	NOUN
fbem-31299	71	3	dimension	dimension	NOUN
fbem-31299	71	4	:	:	PUNCT
fbem-31299	71	5	with	with	ADP
fbem-31299	71	6	its	its	PRON
fbem-31299	71	7	high	high	ADJ
fbem-31299	71	8	risk	risk	NOUN
fbem-31299	71	9	tolerance	tolerance	NOUN
fbem-31299	71	10	,	,	PUNCT
fbem-31299	71	11	patient	patient	ADJ
fbem-31299	71	12	capital	capital	NOUN
fbem-31299	71	13	buffers	buffer	NOUN
fbem-31299	71	14	against	against	ADP
fbem-31299	71	15	short	short	ADJ
fbem-31299	71	16	-	-	PUNCT
fbem-31299	71	17	term	term	NOUN
fbem-31299	71	18	market	market	NOUN
fbem-31299	71	19	volatility	volatility	NOUN
fbem-31299	71	20	,	,	PUNCT
fbem-31299	71	21	curbs	curb	NOUN
fbem-31299	71	22	speculative	speculative	ADJ
fbem-31299	71	23	behavior	behavior	NOUN
fbem-31299	71	24	,	,	PUNCT
fbem-31299	71	25	and	and	CCONJ
fbem-31299	71	26	strengthens	strengthen	VERB
fbem-31299	71	27	firms	firm	NOUN
fbem-31299	71	28	’	’	PART
fbem-31299	71	29	capacity	capacity	NOUN
fbem-31299	71	30	to	to	PART
fbem-31299	71	31	withstand	withstand	VERB
fbem-31299	71	32	and	and	CCONJ
fbem-31299	71	33	recover	recover	VERB
fbem-31299	71	34	from	from	ADP
fbem-31299	71	35	external	external	ADJ
fbem-31299	71	36	shocks	shock	NOUN
fbem-31299	71	37	.	.	PUNCT
fbem-31299	72	1	strategic	strategic	ADJ
fbem-31299	72	2	guidance	guidance	NOUN
fbem-31299	72	3	dimension	dimension	NOUN
fbem-31299	72	4	:	:	PUNCT
fbem-31299	72	5	by	by	ADP
fbem-31299	72	6	refining	refine	VERB
fbem-31299	72	7	governance	governance	NOUN
fbem-31299	72	8	structures	structure	NOUN
fbem-31299	72	9	and	and	CCONJ
fbem-31299	72	10	steering	steer	VERB
fbem-31299	72	11	long	long	ADJ
fbem-31299	72	12	-	-	PUNCT
fbem-31299	72	13	term	term	NOUN
fbem-31299	72	14	strategic	strategic	ADJ
fbem-31299	72	15	direction	direction	NOUN
fbem-31299	72	16	,	,	PUNCT
fbem-31299	72	17	patient	patient	ADJ
fbem-31299	72	18	capital	capital	NOUN
fbem-31299	72	19	fosters	foster	VERB
fbem-31299	72	20	stable	stable	ADJ
fbem-31299	72	21	operations	operation	NOUN
fbem-31299	72	22	and	and	CCONJ
fbem-31299	72	23	market	market	NOUN
fbem-31299	72	24	positioning	positioning	NOUN
fbem-31299	72	25	,	,	PUNCT
fbem-31299	72	26	ultimately	ultimately	ADV
fbem-31299	72	27	enhancing	enhance	VERB
fbem-31299	72	28	overall	overall	ADJ
fbem-31299	72	29	risk	risk	NOUN
fbem-31299	72	30	management	management	NOUN
fbem-31299	72	31	and	and	CCONJ
fbem-31299	72	32	resilience	resilience	NOUN
fbem-31299	72	33	.	.	PUNCT
fbem-31299	73	1	2.2	2.2	NUM
fbem-31299	73	2	.	.	PUNCT
fbem-31299	73	3	hypotheses	hypothese	VERB
fbem-31299	73	4	2.2.1	2.2.1	NUM
fbem-31299	73	5	.	.	PUNCT
fbem-31299	74	1	the	the	DET
fbem-31299	74	2	direct	direct	ADJ
fbem-31299	74	3	effect	effect	NOUN
fbem-31299	74	4	of	of	ADP
fbem-31299	74	5	patient	patient	ADJ
fbem-31299	74	6	capital	capital	NOUN
fbem-31299	74	7	on	on	ADP
fbem-31299	74	8	enterprise	enterprise	NOUN
fbem-31299	74	9	resilience	resilience	NOUN
fbem-31299	74	10	enterprise	enterprise	NOUN
fbem-31299	74	11	resilience	resilience	NOUN
fbem-31299	74	12	refers	refer	VERB
fbem-31299	74	13	to	to	ADP
fbem-31299	74	14	an	an	DET
fbem-31299	74	15	organization	organization	NOUN
fbem-31299	74	16	's	's	PART
fbem-31299	74	17	buffering	buffering	NOUN
fbem-31299	74	18	capacity	capacity	NOUN
fbem-31299	74	19	and	and	CCONJ
fbem-31299	74	20	recovery	recovery	NOUN
fbem-31299	74	21	capability	capability	NOUN
fbem-31299	74	22	when	when	SCONJ
fbem-31299	74	23	facing	face	VERB
fbem-31299	74	24	external	external	ADJ
fbem-31299	74	25	shocks	shock	NOUN
fbem-31299	74	26	,	,	PUNCT
fbem-31299	74	27	which	which	PRON
fbem-31299	74	28	is	be	AUX
fbem-31299	74	29	primarily	primarily	ADV
fbem-31299	74	30	reflected	reflect	VERB
fbem-31299	74	31	in	in	ADP
fbem-31299	74	32	two	two	NUM
fbem-31299	74	33	dimensions	dimension	NOUN
fbem-31299	74	34	:	:	PUNCT
fbem-31299	74	35	"	"	PUNCT
fbem-31299	74	36	stability	stability	NOUN
fbem-31299	74	37	maintenance	maintenance	NOUN
fbem-31299	74	38	"	"	PUNCT
fbem-31299	74	39	and	and	CCONJ
fbem-31299	74	40	"	"	PUNCT
fbem-31299	74	41	growth	growth	NOUN
fbem-31299	74	42	.	.	PUNCT
fbem-31299	74	43	"	"	PUNCT
fbem-31299	75	1	as	as	ADP
fbem-31299	75	2	a	a	DET
fbem-31299	75	3	long	long	ADJ
fbem-31299	75	4	-	-	PUNCT
fbem-31299	75	5	term	term	NOUN
fbem-31299	75	6	-	-	PUNCT
fbem-31299	75	7	oriented	orient	VERB
fbem-31299	75	8	form	form	NOUN
fbem-31299	75	9	of	of	ADP
fbem-31299	75	10	capital	capital	NOUN
fbem-31299	75	11	,	,	PUNCT
fbem-31299	75	12	patient	patient	ADJ
fbem-31299	75	13	capital	capital	NOUN
fbem-31299	75	14	possesses	possess	VERB
fbem-31299	75	15	unique	unique	ADJ
fbem-31299	75	16	advantages	advantage	NOUN
fbem-31299	75	17	in	in	ADP
fbem-31299	75	18	enhancing	enhance	VERB
fbem-31299	75	19	enterprise	enterprise	NOUN
fbem-31299	75	20	resilience	resilience	NOUN
fbem-31299	75	21	due	due	ADP
fbem-31299	75	22	to	to	ADP
fbem-31299	75	23	its	its	PRON
fbem-31299	75	24	characteristics	characteristic	NOUN
fbem-31299	75	25	of	of	ADP
fbem-31299	75	26	long	long	ADJ
fbem-31299	75	27	-	-	PUNCT
fbem-31299	75	28	term	term	NOUN
fbem-31299	75	29	investment	investment	NOUN
fbem-31299	75	30	horizon	horizon	NOUN
fbem-31299	75	31	,	,	PUNCT
fbem-31299	75	32	risk	risk	NOUN
fbem-31299	75	33	tolerance	tolerance	NOUN
fbem-31299	75	34	,	,	PUNCT
fbem-31299	75	35	and	and	CCONJ
fbem-31299	75	36	strategic	strategic	ADJ
fbem-31299	75	37	107	107	NUM
fbem-31299	75	38	stability	stability	NOUN
fbem-31299	75	39	.	.	PUNCT
fbem-31299	76	1	the	the	DET
fbem-31299	76	2	investment	investment	NOUN
fbem-31299	76	3	stability	stability	NOUN
fbem-31299	76	4	of	of	ADP
fbem-31299	76	5	patient	patient	ADJ
fbem-31299	76	6	capital	capital	NOUN
fbem-31299	76	7	strengthens	strengthen	VERB
fbem-31299	76	8	an	an	DET
fbem-31299	76	9	enterprise	enterprise	NOUN
fbem-31299	76	10	's	's	PART
fbem-31299	76	11	ability	ability	NOUN
fbem-31299	76	12	to	to	PART
fbem-31299	76	13	maintain	maintain	VERB
fbem-31299	76	14	stability	stability	NOUN
fbem-31299	76	15	through	through	ADP
fbem-31299	76	16	multiple	multiple	ADJ
fbem-31299	76	17	pathways	pathway	NOUN
fbem-31299	76	18	:	:	PUNCT
fbem-31299	76	19	providing	provide	VERB
fbem-31299	76	20	stable	stable	ADJ
fbem-31299	76	21	cash	cash	NOUN
fbem-31299	76	22	flow	flow	NOUN
fbem-31299	76	23	to	to	PART
fbem-31299	76	24	ensure	ensure	VERB
fbem-31299	76	25	normal	normal	ADJ
fbem-31299	76	26	operations	operation	NOUN
fbem-31299	76	27	.	.	PUNCT
fbem-31299	77	1	enhancing	enhance	VERB
fbem-31299	77	2	market	market	NOUN
fbem-31299	77	3	expansion	expansion	NOUN
fbem-31299	77	4	and	and	CCONJ
fbem-31299	77	5	brand	brand	NOUN
fbem-31299	77	6	-	-	PUNCT
fbem-31299	77	7	building	building	NOUN
fbem-31299	77	8	capabilities	capability	NOUN
fbem-31299	77	9	,	,	PUNCT
fbem-31299	77	10	thereby	thereby	ADV
fbem-31299	77	11	creating	create	VERB
fbem-31299	77	12	a	a	DET
fbem-31299	77	13	reputation	reputation	NOUN
fbem-31299	77	14	effect	effect	NOUN
fbem-31299	77	15	.	.	PUNCT
fbem-31299	78	1	reducing	reduce	VERB
fbem-31299	78	2	financing	financing	NOUN
fbem-31299	78	3	difficulties	difficulty	NOUN
fbem-31299	78	4	during	during	ADP
fbem-31299	78	5	crises	crisis	NOUN
fbem-31299	78	6	.	.	PUNCT
fbem-31299	79	1	empirical	empirical	ADJ
fbem-31299	79	2	studies	study	NOUN
fbem-31299	79	3	show	show	VERB
fbem-31299	79	4	that	that	SCONJ
fbem-31299	79	5	enterprises	enterprise	NOUN
fbem-31299	79	6	supported	support	VERB
fbem-31299	79	7	by	by	ADP
fbem-31299	79	8	patient	patient	ADJ
fbem-31299	79	9	capital	capital	NOUN
fbem-31299	79	10	can	can	AUX
fbem-31299	79	11	maintain	maintain	VERB
fbem-31299	79	12	stable	stable	ADJ
fbem-31299	79	13	production	production	NOUN
fbem-31299	79	14	during	during	ADP
fbem-31299	79	15	crises	crisis	NOUN
fbem-31299	79	16	and	and	CCONJ
fbem-31299	79	17	resume	resume	VERB
fbem-31299	79	18	normal	normal	ADJ
fbem-31299	79	19	operations	operation	NOUN
fbem-31299	79	20	more	more	ADV
fbem-31299	79	21	quickly	quickly	ADV
fbem-31299	79	22	.	.	PUNCT
fbem-31299	80	1	by	by	ADP
fbem-31299	80	2	mitigating	mitigate	VERB
fbem-31299	80	3	the	the	DET
fbem-31299	80	4	impact	impact	NOUN
fbem-31299	80	5	of	of	ADP
fbem-31299	80	6	short	short	ADJ
fbem-31299	80	7	-	-	PUNCT
fbem-31299	80	8	term	term	NOUN
fbem-31299	80	9	market	market	NOUN
fbem-31299	80	10	fluctuations	fluctuation	NOUN
fbem-31299	80	11	on	on	ADP
fbem-31299	80	12	business	business	NOUN
fbem-31299	80	13	operations	operation	NOUN
fbem-31299	80	14	,	,	PUNCT
fbem-31299	80	15	improving	improve	VERB
fbem-31299	80	16	risk	risk	NOUN
fbem-31299	80	17	management	management	NOUN
fbem-31299	80	18	systems	system	NOUN
fbem-31299	80	19	to	to	PART
fbem-31299	80	20	enhance	enhance	VERB
fbem-31299	80	21	asset	asset	NOUN
fbem-31299	80	22	preservation	preservation	NOUN
fbem-31299	80	23	,	,	PUNCT
fbem-31299	80	24	and	and	CCONJ
fbem-31299	80	25	optimizing	optimize	VERB
fbem-31299	80	26	corporate	corporate	ADJ
fbem-31299	80	27	governance	governance	NOUN
fbem-31299	80	28	structures	structure	NOUN
fbem-31299	80	29	to	to	PART
fbem-31299	80	30	promote	promote	VERB
fbem-31299	80	31	scientific	scientific	ADJ
fbem-31299	80	32	decision	decision	NOUN
fbem-31299	80	33	-	-	PUNCT
fbem-31299	80	34	making	making	NOUN
fbem-31299	80	35	,	,	PUNCT
fbem-31299	80	36	patient	patient	ADJ
fbem-31299	80	37	capital	capital	NOUN
fbem-31299	80	38	collectively	collectively	ADV
fbem-31299	80	39	strengthens	strengthen	VERB
fbem-31299	80	40	an	an	DET
fbem-31299	80	41	enterprise	enterprise	NOUN
fbem-31299	80	42	's	's	PART
fbem-31299	80	43	ability	ability	NOUN
fbem-31299	80	44	to	to	PART
fbem-31299	80	45	recover	recover	VERB
fbem-31299	80	46	rapidly	rapidly	ADV
fbem-31299	80	47	after	after	ADP
fbem-31299	80	48	a	a	DET
fbem-31299	80	49	crisis	crisis	NOUN
fbem-31299	80	50	.	.	PUNCT
fbem-31299	81	1	the	the	DET
fbem-31299	81	2	long	long	ADJ
fbem-31299	81	3	-	-	PUNCT
fbem-31299	81	4	term	term	NOUN
fbem-31299	81	5	strategic	strategic	ADJ
fbem-31299	81	6	orientation	orientation	NOUN
fbem-31299	81	7	of	of	ADP
fbem-31299	81	8	patient	patient	ADJ
fbem-31299	81	9	capital	capital	NOUN
fbem-31299	81	10	enables	enable	VERB
fbem-31299	81	11	enterprises	enterprise	NOUN
fbem-31299	81	12	not	not	PART
fbem-31299	81	13	only	only	ADV
fbem-31299	81	14	to	to	PART
fbem-31299	81	15	withstand	withstand	VERB
fbem-31299	81	16	shocks	shock	NOUN
fbem-31299	81	17	but	but	CCONJ
fbem-31299	81	18	also	also	ADV
fbem-31299	81	19	to	to	PART
fbem-31299	81	20	achieve	achieve	VERB
fbem-31299	81	21	sustained	sustained	ADJ
fbem-31299	81	22	post	post	ADJ
fbem-31299	81	23	-	-	ADJ
fbem-31299	81	24	crisis	crisis	NOUN
fbem-31299	81	25	development	development	NOUN
fbem-31299	81	26	by	by	ADP
fbem-31299	81	27	:	:	PUNCT
fbem-31299	81	28	supporting	support	VERB
fbem-31299	81	29	entry	entry	NOUN
fbem-31299	81	30	into	into	ADP
fbem-31299	81	31	emerging	emerge	VERB
fbem-31299	81	32	sectors	sector	NOUN
fbem-31299	81	33	and	and	CCONJ
fbem-31299	81	34	high	high	ADJ
fbem-31299	81	35	-	-	PUNCT
fbem-31299	81	36	growth	growth	NOUN
fbem-31299	81	37	industries	industry	NOUN
fbem-31299	81	38	.	.	PUNCT
fbem-31299	82	1	improving	improve	VERB
fbem-31299	82	2	resource	resource	NOUN
fbem-31299	82	3	allocation	allocation	NOUN
fbem-31299	82	4	efficiency	efficiency	NOUN
fbem-31299	82	5	to	to	PART
fbem-31299	82	6	cultivate	cultivate	VERB
fbem-31299	82	7	new	new	ADJ
fbem-31299	82	8	growth	growth	NOUN
fbem-31299	82	9	drivers	driver	NOUN
fbem-31299	82	10	.	.	PUNCT
fbem-31299	83	1	enhancing	enhance	VERB
fbem-31299	83	2	strategic	strategic	ADJ
fbem-31299	83	3	flexibility	flexibility	NOUN
fbem-31299	83	4	to	to	PART
fbem-31299	83	5	seize	seize	VERB
fbem-31299	83	6	market	market	NOUN
fbem-31299	83	7	opportunities	opportunity	NOUN
fbem-31299	83	8	.	.	PUNCT
fbem-31299	84	1	yang	yang	PROPN
fbem-31299	84	2	guoyu	guoyu	VERB
fbem-31299	84	3	et	et	PROPN
fbem-31299	84	4	al	al	PROPN
fbem-31299	84	5	.	.	PUNCT
fbem-31299	85	1	[	[	X
fbem-31299	85	2	27	27	NUM
fbem-31299	85	3	]	]	PUNCT
fbem-31299	85	4	,	,	PUNCT
fbem-31299	85	5	based	base	VERB
fbem-31299	85	6	on	on	ADP
fbem-31299	85	7	a	a	DET
fbem-31299	85	8	study	study	NOUN
fbem-31299	85	9	of	of	ADP
fbem-31299	85	10	a	a	DET
fbem-31299	85	11	-	-	PUNCT
fbem-31299	85	12	share	share	NOUN
fbem-31299	85	13	listed	list	VERB
fbem-31299	85	14	companies	company	NOUN
fbem-31299	85	15	,	,	PUNCT
fbem-31299	85	16	found	find	VERB
fbem-31299	85	17	that	that	SCONJ
fbem-31299	85	18	patient	patient	ADJ
fbem-31299	85	19	capital	capital	NOUN
fbem-31299	85	20	significantly	significantly	ADV
fbem-31299	85	21	enhances	enhance	VERB
fbem-31299	85	22	enterprise	enterprise	NOUN
fbem-31299	85	23	resilience	resilience	NOUN
fbem-31299	85	24	.	.	PUNCT
fbem-31299	86	1	chen	chen	PROPN
fbem-31299	86	2	yalan	yalan	PROPN
fbem-31299	87	1	[	[	X
fbem-31299	87	2	28	28	NUM
fbem-31299	87	3	]	]	PUNCT
fbem-31299	87	4	pointed	point	VERB
fbem-31299	87	5	out	out	ADP
fbem-31299	87	6	that	that	SCONJ
fbem-31299	87	7	patient	patient	ADJ
fbem-31299	87	8	capital	capital	NOUN
fbem-31299	87	9	strengthens	strengthen	VERB
fbem-31299	87	10	an	an	DET
fbem-31299	87	11	enterprise	enterprise	NOUN
fbem-31299	87	12	's	's	PART
fbem-31299	87	13	risk	risk	NOUN
fbem-31299	87	14	resistance	resistance	NOUN
fbem-31299	87	15	and	and	CCONJ
fbem-31299	87	16	continuous	continuous	ADJ
fbem-31299	87	17	innovation	innovation	NOUN
fbem-31299	87	18	capabilities	capability	NOUN
fbem-31299	87	19	through	through	ADP
fbem-31299	87	20	the	the	DET
fbem-31299	87	21	"	"	PUNCT
fbem-31299	87	22	resource	resource	NOUN
fbem-31299	87	23	restructuring	restructuring	NOUN
fbem-31299	87	24	—	—	PUNCT
fbem-31299	87	25	risk	risk	NOUN
fbem-31299	87	26	buffering	buffering	NOUN
fbem-31299	87	27	—	—	PUNCT
fbem-31299	87	28	goal	goal	NOUN
fbem-31299	87	29	alignment	alignment	NOUN
fbem-31299	87	30	"	"	PUNCT
fbem-31299	87	31	mechanism	mechanism	NOUN
fbem-31299	87	32	.	.	PUNCT
fbem-31299	88	1	based	base	VERB
fbem-31299	88	2	on	on	ADP
fbem-31299	88	3	the	the	DET
fbem-31299	88	4	above	above	ADJ
fbem-31299	88	5	analysis	analysis	NOUN
fbem-31299	88	6	,	,	PUNCT
fbem-31299	88	7	hypothesis	hypothesis	NOUN
fbem-31299	88	8	h1	h1	NOUN
fbem-31299	88	9	is	be	AUX
fbem-31299	88	10	proposed	propose	VERB
fbem-31299	88	11	:	:	PUNCT
fbem-31299	88	12	h1	h1	NOUN
fbem-31299	88	13	:	:	PUNCT
fbem-31299	88	14	patient	patient	ADJ
fbem-31299	88	15	capital	capital	NOUN
fbem-31299	88	16	is	be	AUX
fbem-31299	88	17	positively	positively	ADV
fbem-31299	88	18	correlated	correlate	VERB
fbem-31299	88	19	with	with	ADP
fbem-31299	88	20	enterprise	enterprise	NOUN
fbem-31299	88	21	resilience	resilience	NOUN
fbem-31299	88	22	.	.	PUNCT
fbem-31299	89	1	2.2.2	2.2.2	X
fbem-31299	89	2	.	.	PUNCT
fbem-31299	90	1	the	the	DET
fbem-31299	90	2	indirect	indirect	ADJ
fbem-31299	90	3	impact	impact	NOUN
fbem-31299	90	4	mechanism	mechanism	NOUN
fbem-31299	90	5	of	of	ADP
fbem-31299	90	6	patient	patient	ADJ
fbem-31299	90	7	capital	capital	NOUN
fbem-31299	90	8	on	on	ADP
fbem-31299	90	9	enterprise	enterprise	NOUN
fbem-31299	90	10	resilience	resilience	NOUN
fbem-31299	90	11	existing	exist	VERB
fbem-31299	90	12	research	research	NOUN
fbem-31299	90	13	indicates	indicate	VERB
fbem-31299	90	14	that	that	SCONJ
fbem-31299	90	15	patient	patient	ADJ
fbem-31299	90	16	capital	capital	NOUN
fbem-31299	90	17	indirectly	indirectly	ADV
fbem-31299	90	18	enhances	enhance	VERB
fbem-31299	90	19	enterprise	enterprise	NOUN
fbem-31299	90	20	resilience	resilience	NOUN
fbem-31299	90	21	through	through	ADP
fbem-31299	90	22	two	two	NUM
fbem-31299	90	23	key	key	ADJ
fbem-31299	90	24	pathways	pathway	NOUN
fbem-31299	90	25	:	:	PUNCT
fbem-31299	90	26	innovation	innovation	NOUN
fbem-31299	90	27	performance	performance	NOUN
fbem-31299	90	28	and	and	CCONJ
fbem-31299	90	29	financing	financing	NOUN
fbem-31299	90	30	constraints	constraint	NOUN
fbem-31299	90	31	[	[	X
fbem-31299	90	32	8	8	NUM
fbem-31299	90	33	]	]	PUNCT
fbem-31299	90	34	.	.	PUNCT
fbem-31299	91	1	innovation	innovation	NOUN
fbem-31299	91	2	performance	performance	NOUN
fbem-31299	91	3	pathway	pathway	NOUN
fbem-31299	91	4	:	:	PUNCT
fbem-31299	91	5	as	as	ADP
fbem-31299	91	6	an	an	DET
fbem-31299	91	7	important	important	ADJ
fbem-31299	91	8	external	external	ADJ
fbem-31299	91	9	governance	governance	NOUN
fbem-31299	91	10	mechanism	mechanism	NOUN
fbem-31299	91	11	,	,	PUNCT
fbem-31299	91	12	institutional	institutional	ADJ
fbem-31299	91	13	investors	investor	NOUN
fbem-31299	91	14	leverage	leverage	VERB
fbem-31299	91	15	their	their	PRON
fbem-31299	91	16	professional	professional	ADJ
fbem-31299	91	17	analytical	analytical	ADJ
fbem-31299	91	18	capabilities	capability	NOUN
fbem-31299	91	19	and	and	CCONJ
fbem-31299	91	20	long	long	ADJ
fbem-31299	91	21	-	-	PUNCT
fbem-31299	91	22	term	term	NOUN
fbem-31299	91	23	investment	investment	NOUN
fbem-31299	91	24	perspectives	perspective	NOUN
fbem-31299	91	25	to	to	PART
fbem-31299	91	26	effectively	effectively	ADV
fbem-31299	91	27	identify	identify	VERB
fbem-31299	91	28	the	the	DET
fbem-31299	91	29	long	long	ADJ
fbem-31299	91	30	-	-	PUNCT
fbem-31299	91	31	term	term	NOUN
fbem-31299	91	32	value	value	NOUN
fbem-31299	91	33	of	of	ADP
fbem-31299	91	34	innovation	innovation	NOUN
fbem-31299	91	35	investments	investment	NOUN
fbem-31299	92	1	[	[	X
fbem-31299	92	2	29	29	NUM
fbem-31299	92	3	]	]	PUNCT
fbem-31299	92	4	.	.	PUNCT
fbem-31299	93	1	when	when	SCONJ
fbem-31299	93	2	their	their	PRON
fbem-31299	93	3	shareholding	shareholding	NOUN
fbem-31299	93	4	exceeds	exceed	VERB
fbem-31299	93	5	a	a	DET
fbem-31299	93	6	certain	certain	ADJ
fbem-31299	93	7	threshold	threshold	NOUN
fbem-31299	93	8	,	,	PUNCT
fbem-31299	93	9	these	these	DET
fbem-31299	93	10	investors	investor	NOUN
fbem-31299	93	11	actively	actively	ADV
fbem-31299	93	12	participate	participate	VERB
fbem-31299	93	13	in	in	ADP
fbem-31299	93	14	corporate	corporate	ADJ
fbem-31299	93	15	governance	governance	NOUN
fbem-31299	93	16	,	,	PUNCT
fbem-31299	93	17	significantly	significantly	ADV
fbem-31299	93	18	mitigating	mitigate	VERB
fbem-31299	93	19	managerial	managerial	ADJ
fbem-31299	93	20	short	short	ADJ
fbem-31299	93	21	-	-	PUNCT
fbem-31299	93	22	termism	termism	NOUN
fbem-31299	93	23	[	[	X
fbem-31299	93	24	30	30	NUM
fbem-31299	93	25	]	]	PUNCT
fbem-31299	93	26	.	.	PUNCT
fbem-31299	94	1	among	among	ADP
fbem-31299	94	2	them	they	PRON
fbem-31299	94	3	,	,	PUNCT
fbem-31299	94	4	long	long	ADJ
fbem-31299	94	5	-	-	PUNCT
fbem-31299	94	6	term	term	NOUN
fbem-31299	94	7	funds	fund	NOUN
fbem-31299	94	8	within	within	ADP
fbem-31299	94	9	securities	security	NOUN
fbem-31299	94	10	investment	investment	NOUN
fbem-31299	94	11	funds	fund	NOUN
fbem-31299	94	12	play	play	VERB
fbem-31299	94	13	a	a	DET
fbem-31299	94	14	particularly	particularly	ADV
fbem-31299	94	15	prominent	prominent	ADJ
fbem-31299	94	16	role	role	NOUN
fbem-31299	94	17	in	in	ADP
fbem-31299	94	18	promoting	promote	VERB
fbem-31299	94	19	innovation	innovation	NOUN
fbem-31299	94	20	output	output	NOUN
fbem-31299	94	21	[	[	X
fbem-31299	94	22	31	31	NUM
fbem-31299	94	23	]	]	PUNCT
fbem-31299	94	24	.	.	PUNCT
fbem-31299	95	1	financing	finance	VERB
fbem-31299	95	2	constraint	constraint	NOUN
fbem-31299	95	3	pathway	pathway	NOUN
fbem-31299	95	4	:	:	PUNCT
fbem-31299	95	5	patient	patient	ADJ
fbem-31299	95	6	capital	capital	NOUN
fbem-31299	95	7	reduces	reduce	VERB
fbem-31299	95	8	corporate	corporate	ADJ
fbem-31299	95	9	financing	financing	NOUN
fbem-31299	95	10	costs	cost	NOUN
fbem-31299	95	11	and	and	CCONJ
fbem-31299	95	12	alleviates	alleviate	VERB
fbem-31299	95	13	information	information	NOUN
fbem-31299	95	14	asymmetry	asymmetry	NOUN
fbem-31299	95	15	by	by	ADP
fbem-31299	95	16	providing	provide	VERB
fbem-31299	95	17	long	long	ADJ
fbem-31299	95	18	-	-	PUNCT
fbem-31299	95	19	term	term	NOUN
fbem-31299	95	20	stable	stable	ADJ
fbem-31299	95	21	funding	funding	NOUN
fbem-31299	95	22	and	and	CCONJ
fbem-31299	95	23	improving	improve	VERB
fbem-31299	95	24	information	information	NOUN
fbem-31299	95	25	disclosure	disclosure	NOUN
fbem-31299	95	26	quality	quality	NOUN
fbem-31299	95	27	[	[	X
fbem-31299	95	28	32	32	NUM
fbem-31299	95	29	]	]	PUNCT
fbem-31299	95	30	.	.	PUNCT
fbem-31299	96	1	notably	notably	ADV
fbem-31299	96	2	,	,	PUNCT
fbem-31299	96	3	patient	patient	ADJ
fbem-31299	96	4	capital	capital	NOUN
fbem-31299	96	5	aligns	align	VERB
fbem-31299	96	6	inherently	inherently	ADV
fbem-31299	96	7	with	with	ADP
fbem-31299	96	8	corporate	corporate	ADJ
fbem-31299	96	9	management	management	NOUN
fbem-31299	96	10	in	in	ADP
fbem-31299	96	11	terms	term	NOUN
fbem-31299	96	12	of	of	ADP
fbem-31299	96	13	technological	technological	ADJ
fbem-31299	96	14	innovation	innovation	NOUN
fbem-31299	96	15	and	and	CCONJ
fbem-31299	96	16	long	long	ADJ
fbem-31299	96	17	-	-	PUNCT
fbem-31299	96	18	term	term	NOUN
fbem-31299	96	19	development	development	NOUN
fbem-31299	96	20	goals	goal	NOUN
fbem-31299	96	21	[	[	X
fbem-31299	96	22	7	7	NUM
fbem-31299	96	23	]	]	PUNCT
fbem-31299	96	24	.	.	PUNCT
fbem-31299	97	1	this	this	DET
fbem-31299	97	2	institutional	institutional	ADJ
fbem-31299	97	3	synergy	synergy	NOUN
fbem-31299	97	4	provides	provide	VERB
fbem-31299	97	5	a	a	DET
fbem-31299	97	6	solid	solid	ADJ
fbem-31299	97	7	foundation	foundation	NOUN
fbem-31299	97	8	for	for	ADP
fbem-31299	97	9	the	the	DET
fbem-31299	97	10	innovation	innovation	NOUN
fbem-31299	97	11	performance	performance	NOUN
fbem-31299	97	12	pathway	pathway	NOUN
fbem-31299	97	13	.	.	PUNCT
fbem-31299	98	1	based	base	VERB
fbem-31299	98	2	on	on	ADP
fbem-31299	98	3	the	the	DET
fbem-31299	98	4	above	above	ADJ
fbem-31299	98	5	mechanism	mechanism	NOUN
fbem-31299	98	6	analysis	analysis	NOUN
fbem-31299	98	7	,	,	PUNCT
fbem-31299	98	8	this	this	DET
fbem-31299	98	9	paper	paper	NOUN
fbem-31299	98	10	proposes	propose	VERB
fbem-31299	98	11	hypothesis	hypothesis	NOUN
fbem-31299	98	12	h2	h2	NOUN
fbem-31299	98	13	:	:	PUNCT
fbem-31299	98	14	innovation	innovation	NOUN
fbem-31299	98	15	performance	performance	NOUN
fbem-31299	98	16	plays	play	VERB
fbem-31299	98	17	a	a	DET
fbem-31299	98	18	positive	positive	ADJ
fbem-31299	98	19	mediating	mediate	VERB
fbem-31299	98	20	role	role	NOUN
fbem-31299	98	21	in	in	ADP
fbem-31299	98	22	the	the	DET
fbem-31299	98	23	impact	impact	NOUN
fbem-31299	98	24	of	of	ADP
fbem-31299	98	25	patient	patient	ADJ
fbem-31299	98	26	capital	capital	NOUN
fbem-31299	98	27	on	on	ADP
fbem-31299	98	28	the	the	DET
fbem-31299	98	29	resilience	resilience	NOUN
fbem-31299	98	30	of	of	ADP
fbem-31299	98	31	small	small	ADJ
fbem-31299	98	32	and	and	CCONJ
fbem-31299	98	33	medium	medium	ADJ
fbem-31299	98	34	-	-	PUNCT
fbem-31299	98	35	sized	sized	ADJ
fbem-31299	98	36	enterprises	enterprise	NOUN
fbem-31299	98	37	(	(	PUNCT
fbem-31299	98	38	smes	sme	NOUN
fbem-31299	98	39	)	)	PUNCT
fbem-31299	98	40	.	.	PUNCT
fbem-31299	99	1	this	this	DET
fbem-31299	99	2	hypothesis	hypothesis	NOUN
fbem-31299	99	3	is	be	AUX
fbem-31299	99	4	supported	support	VERB
fbem-31299	99	5	by	by	ADP
fbem-31299	99	6	the	the	DET
fbem-31299	99	7	"	"	PUNCT
fbem-31299	99	8	sophisticated	sophisticated	ADJ
fbem-31299	99	9	institutional	institutional	ADJ
fbem-31299	99	10	investor	investor	NOUN
fbem-31299	99	11	theory	theory	NOUN
fbem-31299	99	12	"	"	PUNCT
fbem-31299	99	13	of	of	ADP
fbem-31299	99	14	dahya	dahya	NOUN
fbem-31299	99	15	and	and	CCONJ
fbem-31299	99	16	mcconnell	mcconnell	PROPN
fbem-31299	100	1	[	[	X
fbem-31299	100	2	33	33	NUM
fbem-31299	100	3	]	]	PUNCT
fbem-31299	100	4	and	and	CCONJ
fbem-31299	100	5	the	the	DET
fbem-31299	100	6	empirical	empirical	ADJ
fbem-31299	100	7	evidence	evidence	NOUN
fbem-31299	100	8	on	on	ADP
fbem-31299	100	9	shareholding	shareholding	NOUN
fbem-31299	100	10	threshold	threshold	NOUN
fbem-31299	100	11	effects	effect	NOUN
fbem-31299	100	12	from	from	ADP
fbem-31299	100	13	qi	qi	PROPN
fbem-31299	100	14	jiebin	jiebin	NOUN
fbem-31299	100	15	et	et	PROPN
fbem-31299	100	16	al	al	PROPN
fbem-31299	100	17	.	.	PUNCT
fbem-31299	101	1	[	[	X
fbem-31299	101	2	34	34	NUM
fbem-31299	101	3	]	]	PUNCT
fbem-31299	101	4	,	,	PUNCT
fbem-31299	101	5	which	which	PRON
fbem-31299	101	6	demonstrate	demonstrate	VERB
fbem-31299	101	7	that	that	SCONJ
fbem-31299	101	8	institutional	institutional	ADJ
fbem-31299	101	9	investors	investor	NOUN
fbem-31299	101	10	significantly	significantly	ADV
fbem-31299	101	11	enhance	enhance	VERB
fbem-31299	101	12	corporate	corporate	ADJ
fbem-31299	101	13	innovation	innovation	NOUN
fbem-31299	101	14	when	when	SCONJ
fbem-31299	101	15	their	their	PRON
fbem-31299	101	16	shareholding	shareholding	NOUN
fbem-31299	101	17	reaches	reach	VERB
fbem-31299	101	18	a	a	DET
fbem-31299	101	19	certain	certain	ADJ
fbem-31299	101	20	level	level	NOUN
fbem-31299	101	21	.	.	PUNCT
fbem-31299	102	1	building	build	VERB
fbem-31299	102	2	on	on	ADP
fbem-31299	102	3	this	this	DET
fbem-31299	102	4	analysis	analysis	NOUN
fbem-31299	102	5	,	,	PUNCT
fbem-31299	102	6	we	we	PRON
fbem-31299	102	7	further	far	ADV
fbem-31299	102	8	propose	propose	VERB
fbem-31299	102	9	:	:	PUNCT
fbem-31299	102	10	h2a	h2a	ADJ
fbem-31299	102	11	:	:	PUNCT
fbem-31299	102	12	innovation	innovation	NOUN
fbem-31299	102	13	performance	performance	NOUN
fbem-31299	102	14	positively	positively	ADV
fbem-31299	102	15	mediates	mediate	VERB
fbem-31299	102	16	the	the	DET
fbem-31299	102	17	relationship	relationship	NOUN
fbem-31299	102	18	between	between	ADP
fbem-31299	102	19	patient	patient	ADJ
fbem-31299	102	20	capital	capital	NOUN
fbem-31299	102	21	and	and	CCONJ
fbem-31299	102	22	sme	sme	PROPN
fbem-31299	102	23	resilience	resilience	NOUN
fbem-31299	102	24	.	.	PUNCT
fbem-31299	103	1	research	research	NOUN
fbem-31299	103	2	shows	show	VERB
fbem-31299	103	3	that	that	SCONJ
fbem-31299	103	4	patient	patient	ADJ
fbem-31299	103	5	capital	capital	NOUN
fbem-31299	103	6	significantly	significantly	ADV
fbem-31299	103	7	reduces	reduce	VERB
fbem-31299	103	8	financing	financing	NOUN
fbem-31299	103	9	costs	cost	NOUN
fbem-31299	103	10	and	and	CCONJ
fbem-31299	103	11	alleviates	alleviate	VERB
fbem-31299	103	12	short	short	ADJ
fbem-31299	103	13	-	-	PUNCT
fbem-31299	103	14	term	term	NOUN
fbem-31299	103	15	liquidity	liquidity	NOUN
fbem-31299	103	16	pressures	pressure	NOUN
fbem-31299	103	17	by	by	ADP
fbem-31299	103	18	providing	provide	VERB
fbem-31299	103	19	long	long	ADJ
fbem-31299	103	20	-	-	PUNCT
fbem-31299	103	21	term	term	NOUN
fbem-31299	103	22	stable	stable	ADJ
fbem-31299	103	23	funding	funding	NOUN
fbem-31299	104	1	[	[	X
fbem-31299	104	2	5	5	NUM
fbem-31299	104	3	]	]	PUNCT
fbem-31299	104	4	.	.	PUNCT
fbem-31299	105	1	simultaneously	simultaneously	ADV
fbem-31299	105	2	,	,	PUNCT
fbem-31299	105	3	it	it	PRON
fbem-31299	105	4	improves	improve	VERB
fbem-31299	105	5	information	information	NOUN
fbem-31299	105	6	disclosure	disclosure	NOUN
fbem-31299	105	7	quality	quality	NOUN
fbem-31299	106	1	[	[	X
fbem-31299	106	2	8	8	NUM
fbem-31299	106	3	]	]	PUNCT
fbem-31299	106	4	,	,	PUNCT
fbem-31299	106	5	mitigates	mitigate	VERB
fbem-31299	106	6	information	information	NOUN
fbem-31299	106	7	asymmetry	asymmetry	NOUN
fbem-31299	106	8	between	between	ADP
fbem-31299	106	9	investors	investor	NOUN
fbem-31299	106	10	and	and	CCONJ
fbem-31299	106	11	firms	firm	NOUN
fbem-31299	106	12	,	,	PUNCT
fbem-31299	106	13	and	and	CCONJ
fbem-31299	106	14	strengthens	strengthen	VERB
fbem-31299	106	15	external	external	ADJ
fbem-31299	106	16	investor	investor	NOUN
fbem-31299	106	17	confidence	confidence	NOUN
fbem-31299	106	18	.	.	PUNCT
fbem-31299	107	1	more	more	ADV
fbem-31299	107	2	importantly	importantly	ADV
fbem-31299	107	3	,	,	PUNCT
fbem-31299	107	4	the	the	DET
fbem-31299	107	5	risk	risk	NOUN
fbem-31299	107	6	-	-	PUNCT
fbem-31299	107	7	tolerant	tolerant	ADJ
fbem-31299	107	8	nature	nature	NOUN
fbem-31299	107	9	of	of	ADP
fbem-31299	107	10	patient	patient	ADJ
fbem-31299	107	11	capital	capital	NOUN
fbem-31299	107	12	[	[	X
fbem-31299	107	13	1	1	X
fbem-31299	107	14	]	]	PUNCT
fbem-31299	107	15	enhances	enhance	VERB
fbem-31299	107	16	firms	firm	NOUN
fbem-31299	107	17	'	'	PART
fbem-31299	107	18	access	access	NOUN
fbem-31299	107	19	to	to	ADP
fbem-31299	107	20	financing	financing	NOUN
fbem-31299	107	21	during	during	ADP
fbem-31299	107	22	crises	crisis	NOUN
fbem-31299	107	23	.	.	PUNCT
fbem-31299	108	1	this	this	DET
fbem-31299	108	2	financing	financing	NOUN
fbem-31299	108	3	constraint	constraint	NOUN
fbem-31299	108	4	alleviation	alleviation	NOUN
fbem-31299	108	5	mechanism	mechanism	NOUN
fbem-31299	108	6	provides	provide	VERB
fbem-31299	108	7	critical	critical	ADJ
fbem-31299	108	8	financial	financial	ADJ
fbem-31299	108	9	support	support	NOUN
fbem-31299	108	10	,	,	PUNCT
fbem-31299	108	11	enabling	enable	VERB
fbem-31299	108	12	firms	firm	NOUN
fbem-31299	108	13	to	to	PART
fbem-31299	108	14	maintain	maintain	VERB
fbem-31299	108	15	normal	normal	ADJ
fbem-31299	108	16	operations	operation	NOUN
fbem-31299	108	17	and	and	CCONJ
fbem-31299	108	18	recover	recover	VERB
fbem-31299	108	19	swiftly	swiftly	ADV
fbem-31299	108	20	post	post	NOUN
fbem-31299	108	21	-	-	NOUN
fbem-31299	108	22	crisis	crisis	NOUN
fbem-31299	108	23	.	.	PUNCT
fbem-31299	109	1	empirical	empirical	ADJ
fbem-31299	109	2	studies	study	NOUN
fbem-31299	109	3	confirm	confirm	VERB
fbem-31299	109	4	that	that	SCONJ
fbem-31299	109	5	patient	patient	ADJ
fbem-31299	109	6	capital	capital	NOUN
fbem-31299	109	7	aligns	align	VERB
fbem-31299	109	8	closely	closely	ADV
fbem-31299	109	9	with	with	ADP
fbem-31299	109	10	managerial	managerial	ADJ
fbem-31299	109	11	long	long	ADJ
fbem-31299	109	12	-	-	PUNCT
fbem-31299	109	13	term	term	NOUN
fbem-31299	109	14	objectives	objective	NOUN
fbem-31299	109	15	[	[	X
fbem-31299	109	16	7	7	NUM
fbem-31299	109	17	]	]	PUNCT
fbem-31299	109	18	,	,	PUNCT
fbem-31299	109	19	and	and	CCONJ
fbem-31299	109	20	this	this	DET
fbem-31299	109	21	strategic	strategic	ADJ
fbem-31299	109	22	synergy	synergy	NOUN
fbem-31299	109	23	further	far	ADV
fbem-31299	109	24	amplifies	amplify	VERB
fbem-31299	109	25	the	the	DET
fbem-31299	109	26	effect	effect	NOUN
fbem-31299	109	27	of	of	ADP
fbem-31299	109	28	financing	finance	VERB
fbem-31299	109	29	constraint	constraint	NOUN
fbem-31299	109	30	mitigation	mitigation	NOUN
fbem-31299	109	31	.	.	PUNCT
fbem-31299	110	1	based	base	VERB
fbem-31299	110	2	on	on	ADP
fbem-31299	110	3	the	the	DET
fbem-31299	110	4	above	above	ADJ
fbem-31299	110	5	theoretical	theoretical	ADJ
fbem-31299	110	6	and	and	CCONJ
fbem-31299	110	7	empirical	empirical	ADJ
fbem-31299	110	8	evidence	evidence	NOUN
fbem-31299	110	9	,	,	PUNCT
fbem-31299	110	10	this	this	DET
fbem-31299	110	11	paper	paper	NOUN
fbem-31299	110	12	proposes	propose	VERB
fbem-31299	110	13	:	:	PUNCT
fbem-31299	110	14	h2b	h2b	PROPN
fbem-31299	110	15	:	:	PUNCT
fbem-31299	110	16	patient	patient	ADJ
fbem-31299	110	17	capital	capital	NOUN
fbem-31299	110	18	significantly	significantly	ADV
fbem-31299	110	19	enhances	enhance	VERB
fbem-31299	110	20	enterprise	enterprise	NOUN
fbem-31299	110	21	resilience	resilience	NOUN
fbem-31299	110	22	by	by	ADP
fbem-31299	110	23	alleviating	alleviate	VERB
fbem-31299	110	24	financing	financing	NOUN
fbem-31299	110	25	constraints	constraint	NOUN
fbem-31299	110	26	through	through	ADP
fbem-31299	110	27	a	a	DET
fbem-31299	110	28	mediating	mediate	VERB
fbem-31299	110	29	pathway	pathway	NOUN
fbem-31299	110	30	.	.	PUNCT
fbem-31299	111	1	2.2.3	2.2.3	X
fbem-31299	111	2	.	.	PUNCT
fbem-31299	112	1	the	the	DET
fbem-31299	112	2	moderating	moderate	VERB
fbem-31299	112	3	effect	effect	NOUN
fbem-31299	112	4	of	of	ADP
fbem-31299	112	5	first	first	ADJ
fbem-31299	112	6	-	-	PUNCT
fbem-31299	112	7	tier	tier	NOUN
fbem-31299	112	8	agency	agency	NOUN
fbem-31299	112	9	costs	cost	VERB
fbem-31299	112	10	existing	exist	VERB
fbem-31299	112	11	research	research	NOUN
fbem-31299	112	12	suggests	suggest	VERB
fbem-31299	112	13	that	that	SCONJ
fbem-31299	112	14	the	the	DET
fbem-31299	112	15	positive	positive	ADJ
fbem-31299	112	16	impact	impact	NOUN
fbem-31299	112	17	of	of	ADP
fbem-31299	112	18	patient	patient	ADJ
fbem-31299	112	19	capital	capital	NOUN
fbem-31299	112	20	on	on	ADP
fbem-31299	112	21	enterprise	enterprise	NOUN
fbem-31299	112	22	resilience	resilience	NOUN
fbem-31299	112	23	may	may	AUX
fbem-31299	112	24	be	be	AUX
fbem-31299	112	25	constrained	constrain	VERB
fbem-31299	112	26	by	by	ADP
fbem-31299	112	27	governance	governance	NOUN
fbem-31299	112	28	efficiency	efficiency	NOUN
fbem-31299	112	29	.	.	PUNCT
fbem-31299	113	1	from	from	ADP
fbem-31299	113	2	the	the	DET
fbem-31299	113	3	perspective	perspective	NOUN
fbem-31299	113	4	of	of	ADP
fbem-31299	113	5	agency	agency	NOUN
fbem-31299	113	6	theory	theory	NOUN
fbem-31299	113	7	,	,	PUNCT
fbem-31299	113	8	first	first	ADJ
fbem-31299	113	9	-	-	PUNCT
fbem-31299	113	10	tier	tier	NOUN
fbem-31299	113	11	agency	agency	NOUN
fbem-31299	113	12	costs	cost	NOUN
fbem-31299	113	13	(	(	PUNCT
fbem-31299	113	14	ac	ac	PROPN
fbem-31299	113	15	)	)	PUNCT
fbem-31299	113	16	,	,	PUNCT
fbem-31299	113	17	as	as	ADP
fbem-31299	113	18	a	a	DET
fbem-31299	113	19	key	key	ADJ
fbem-31299	113	20	measure	measure	NOUN
fbem-31299	113	21	of	of	ADP
fbem-31299	113	22	governance	governance	NOUN
fbem-31299	113	23	efficiency	efficiency	NOUN
fbem-31299	113	24	,	,	PUNCT
fbem-31299	113	25	exhibit	exhibit	VERB
fbem-31299	113	26	a	a	DET
fbem-31299	113	27	significant	significant	ADJ
fbem-31299	113	28	negative	negative	ADJ
fbem-31299	113	29	moderating	moderate	VERB
fbem-31299	113	30	effect	effect	NOUN
fbem-31299	113	31	on	on	ADP
fbem-31299	113	32	the	the	DET
fbem-31299	113	33	relationship	relationship	NOUN
fbem-31299	113	34	between	between	ADP
fbem-31299	113	35	patient	patient	ADJ
fbem-31299	113	36	capital	capital	NOUN
fbem-31299	113	37	and	and	CCONJ
fbem-31299	113	38	enterprise	enterprise	NOUN
fbem-31299	113	39	resilience	resilience	NOUN
fbem-31299	113	40	[	[	X
fbem-31299	113	41	35	35	NUM
fbem-31299	113	42	]	]	PUNCT
fbem-31299	113	43	specifically	specifically	ADV
fbem-31299	113	44	,	,	PUNCT
fbem-31299	113	45	high	high	ADJ
fbem-31299	113	46	agency	agency	NOUN
fbem-31299	113	47	costs	cost	NOUN
fbem-31299	113	48	weaken	weaken	VERB
fbem-31299	113	49	the	the	DET
fbem-31299	113	50	beneficial	beneficial	ADJ
fbem-31299	113	51	influence	influence	NOUN
fbem-31299	113	52	of	of	ADP
fbem-31299	113	53	patient	patient	ADJ
fbem-31299	113	54	capital	capital	NOUN
fbem-31299	113	55	through	through	ADP
fbem-31299	113	56	three	three	NUM
fbem-31299	113	57	mechanisms	mechanism	NOUN
fbem-31299	113	58	:	:	PUNCT
fbem-31299	113	59	exacerbating	exacerbate	VERB
fbem-31299	113	60	goal	goal	NOUN
fbem-31299	113	61	divergence	divergence	NOUN
fbem-31299	113	62	between	between	ADP
fbem-31299	113	63	management	management	NOUN
fbem-31299	113	64	and	and	CCONJ
fbem-31299	113	65	investors	investor	NOUN
fbem-31299	113	66	,	,	PUNCT
fbem-31299	113	67	thereby	thereby	ADV
fbem-31299	113	68	diluting	dilute	VERB
fbem-31299	113	69	the	the	DET
fbem-31299	113	70	governance	governance	NOUN
fbem-31299	113	71	and	and	CCONJ
fbem-31299	113	72	oversight	oversight	NOUN
fbem-31299	113	73	effects	effect	NOUN
fbem-31299	113	74	of	of	ADP
fbem-31299	113	75	patient	patient	ADJ
fbem-31299	113	76	capital	capital	NOUN
fbem-31299	114	1	[	[	X
fbem-31299	114	2	4	4	NUM
fbem-31299	114	3	]	]	PUNCT
fbem-31299	114	4	;	;	PUNCT
fbem-31299	114	5	causing	cause	VERB
fbem-31299	114	6	inefficient	inefficient	ADJ
fbem-31299	114	7	resource	resource	NOUN
fbem-31299	114	8	allocation	allocation	NOUN
fbem-31299	114	9	,	,	PUNCT
fbem-31299	114	10	hindering	hinder	VERB
fbem-31299	114	11	the	the	DET
fbem-31299	114	12	translation	translation	NOUN
fbem-31299	114	13	of	of	ADP
fbem-31299	114	14	innovation	innovation	NOUN
fbem-31299	114	15	investments	investment	NOUN
fbem-31299	114	16	into	into	ADP
fbem-31299	114	17	substantive	substantive	ADJ
fbem-31299	114	18	technological	technological	ADJ
fbem-31299	114	19	breakthroughs	breakthrough	NOUN
fbem-31299	114	20	[	[	X
fbem-31299	114	21	36	36	NUM
fbem-31299	114	22	]	]	PUNCT
fbem-31299	114	23	;	;	PUNCT
fbem-31299	114	24	inducing	induce	VERB
fbem-31299	114	25	short	short	ADJ
fbem-31299	114	26	-	-	PUNCT
fbem-31299	114	27	termism	termism	NOUN
fbem-31299	114	28	,	,	PUNCT
fbem-31299	114	29	undermining	undermine	VERB
fbem-31299	114	30	the	the	DET
fbem-31299	114	31	execution	execution	NOUN
fbem-31299	114	32	of	of	ADP
fbem-31299	114	33	long	long	ADJ
fbem-31299	114	34	-	-	PUNCT
fbem-31299	114	35	term	term	NOUN
fbem-31299	114	36	strategies	strategy	NOUN
fbem-31299	114	37	[	[	X
fbem-31299	114	38	37	37	NUM
fbem-31299	114	39	]	]	PUNCT
fbem-31299	114	40	.	.	PUNCT
fbem-31299	115	1	empirical	empirical	ADJ
fbem-31299	115	2	evidence	evidence	NOUN
fbem-31299	115	3	shows	show	VERB
fbem-31299	115	4	that	that	SCONJ
fbem-31299	115	5	when	when	SCONJ
fbem-31299	115	6	agency	agency	NOUN
fbem-31299	115	7	costs	cost	NOUN
fbem-31299	115	8	(	(	PUNCT
fbem-31299	115	9	measured	measure	VERB
fbem-31299	115	10	by	by	ADP
fbem-31299	115	11	the	the	DET
fbem-31299	115	12	management	management	NOUN
fbem-31299	115	13	expense	expense	NOUN
fbem-31299	115	14	ratio	ratio	NOUN
fbem-31299	115	15	)	)	PUNCT
fbem-31299	115	16	are	be	AUX
fbem-31299	115	17	high	high	ADJ
fbem-31299	115	18	,	,	PUNCT
fbem-31299	115	19	the	the	DET
fbem-31299	115	20	marginal	marginal	ADJ
fbem-31299	115	21	contribution	contribution	NOUN
fbem-31299	115	22	of	of	ADP
fbem-31299	115	23	patient	patient	ADJ
fbem-31299	115	24	capital	capital	NOUN
fbem-31299	115	25	to	to	ADP
fbem-31299	115	26	enterprise	enterprise	NOUN
fbem-31299	115	27	resilience	resilience	NOUN
fbem-31299	115	28	significantly	significantly	ADV
fbem-31299	115	29	declines	decline	VERB
fbem-31299	115	30	(	(	PUNCT
fbem-31299	115	31	β	β	X
fbem-31299	115	32	=	=	SYM
fbem-31299	115	33	−0.669	−0.669	PROPN
fbem-31299	115	34	*	*	PUNCT
fbem-31299	115	35	*	*	PUNCT
fbem-31299	115	36	*	*	PUNCT
fbem-31299	115	37	,	,	PUNCT
fbem-31299	115	38	*	*	PUNCT
fbem-31299	115	39	p	p	X
fbem-31299	115	40	*	*	PUNCT
fbem-31299	115	41	<	<	X
fbem-31299	115	42	0.01	0.01	NUM
fbem-31299	115	43	)	)	PUNCT
fbem-31299	115	44	.	.	PUNCT
fbem-31299	116	1	this	this	DET
fbem-31299	116	2	finding	find	VERB
fbem-31299	116	3	not	not	PART
fbem-31299	116	4	only	only	ADV
fbem-31299	116	5	validates	validate	VERB
fbem-31299	116	6	williamson	williamson	PROPN
fbem-31299	116	7	’s	’s	PART
fbem-31299	117	1	[	[	X
fbem-31299	117	2	38	38	NUM
fbem-31299	117	3	]	]	PUNCT
fbem-31299	117	4	theoretical	theoretical	ADJ
fbem-31299	117	5	proposition	proposition	NOUN
fbem-31299	117	6	on	on	ADP
fbem-31299	117	7	how	how	SCONJ
fbem-31299	117	8	governance	governance	NOUN
fbem-31299	117	9	costs	cost	NOUN
fbem-31299	117	10	affect	affect	VERB
fbem-31299	117	11	capital	capital	NOUN
fbem-31299	117	12	utility	utility	NOUN
fbem-31299	117	13	but	but	CCONJ
fbem-31299	117	14	also	also	ADV
fbem-31299	117	15	highlights	highlight	VERB
fbem-31299	117	16	the	the	DET
fbem-31299	117	17	importance	importance	NOUN
fbem-31299	117	18	of	of	ADP
fbem-31299	117	19	optimizing	optimize	VERB
fbem-31299	117	20	corporate	corporate	ADJ
fbem-31299	117	21	governance	governance	NOUN
fbem-31299	117	22	mechanisms	mechanism	NOUN
fbem-31299	117	23	to	to	PART
fbem-31299	117	24	unlock	unlock	VERB
fbem-31299	117	25	the	the	DET
fbem-31299	117	26	full	full	ADJ
fbem-31299	117	27	potential	potential	NOUN
fbem-31299	117	28	of	of	ADP
fbem-31299	117	29	patient	patient	ADJ
fbem-31299	117	30	capital	capital	NOUN
fbem-31299	117	31	.	.	PUNCT
fbem-31299	118	1	based	base	VERB
fbem-31299	118	2	on	on	ADP
fbem-31299	118	3	this	this	PRON
fbem-31299	118	4	,	,	PUNCT
fbem-31299	118	5	we	we	PRON
fbem-31299	118	6	propose	propose	VERB
fbem-31299	118	7	hypothesis	hypothesis	NOUN
fbem-31299	118	8	h3	h3	NOUN
fbem-31299	118	9	:	:	PUNCT
fbem-31299	118	10	h3	h3	NOUN
fbem-31299	118	11	:	:	PUNCT
fbem-31299	118	12	first	first	ADJ
fbem-31299	118	13	-	-	PUNCT
fbem-31299	118	14	tier	tier	NOUN
fbem-31299	118	15	agency	agency	NOUN
fbem-31299	118	16	costs	cost	NOUN
fbem-31299	118	17	(	(	PUNCT
fbem-31299	118	18	ac	ac	ADJ
fbem-31299	118	19	)	)	PUNCT
fbem-31299	118	20	negatively	negatively	ADV
fbem-31299	118	21	moderate	moderate	VERB
fbem-31299	118	22	the	the	DET
fbem-31299	118	23	positive	positive	ADJ
fbem-31299	118	24	relationship	relationship	NOUN
fbem-31299	118	25	between	between	ADP
fbem-31299	118	26	patient	patient	ADJ
fbem-31299	118	27	capital	capital	NOUN
fbem-31299	118	28	and	and	CCONJ
fbem-31299	118	29	enterprise	enterprise	NOUN
fbem-31299	118	30	resilience	resilience	NOUN
fbem-31299	118	31	.	.	PUNCT
fbem-31299	119	1	108	108	NUM
fbem-31299	119	2	enterprise	enterprise	NOUN
fbem-31299	119	3	resilience	resilience	NOUN
fbem-31299	119	4	1.innovation	1.innovation	NUM
fbem-31299	119	5	performance	performance	NOUN
fbem-31299	119	6	2.financing	2.financing	NUM
fbem-31299	119	7	constraints	constraint	NOUN
fbem-31299	119	8	patient	patient	ADJ
fbem-31299	119	9	capital	capital	NOUN
fbem-31299	119	10	first	first	ADJ
fbem-31299	119	11	-	-	PUNCT
fbem-31299	119	12	tier	tier	NOUN
fbem-31299	119	13	agency	agency	NOUN
fbem-31299	119	14	costs	cost	NOUN
fbem-31299	119	15	figure	figure	VERB
fbem-31299	119	16	1	1	NUM
fbem-31299	119	17	.	.	PUNCT
fbem-31299	120	1	the	the	DET
fbem-31299	120	2	research	research	NOUN
fbem-31299	120	3	framework	framework	NOUN
fbem-31299	120	4	of	of	ADP
fbem-31299	120	5	this	this	DET
fbem-31299	120	6	paper	paper	NOUN
fbem-31299	120	7	3	3	X
fbem-31299	120	8	.	.	PUNCT
fbem-31299	120	9	data	datum	NOUN
fbem-31299	120	10	organization	organization	NOUN
fbem-31299	120	11	and	and	CCONJ
fbem-31299	120	12	research	research	NOUN
fbem-31299	120	13	design	design	NOUN
fbem-31299	120	14	3.1	3.1	NUM
fbem-31299	120	15	.	.	PUNCT
fbem-31299	120	16	sample	sample	NOUN
fbem-31299	120	17	selection	selection	NOUN
fbem-31299	120	18	and	and	CCONJ
fbem-31299	120	19	data	datum	NOUN
fbem-31299	120	20	sources	source	NOUN
fbem-31299	120	21	this	this	DET
fbem-31299	120	22	study	study	NOUN
fbem-31299	120	23	uses	use	VERB
fbem-31299	120	24	chinese	chinese	ADJ
fbem-31299	120	25	a	a	DET
fbem-31299	120	26	-	-	PUNCT
fbem-31299	120	27	share	share	NOUN
fbem-31299	120	28	manufacturing	manufacturing	NOUN
fbem-31299	120	29	listed	list	VERB
fbem-31299	120	30	companies	company	NOUN
fbem-31299	120	31	from	from	ADP
fbem-31299	120	32	2013	2013	NUM
fbem-31299	120	33	to	to	ADP
fbem-31299	120	34	2023	2023	NUM
fbem-31299	120	35	as	as	ADP
fbem-31299	120	36	the	the	DET
fbem-31299	120	37	initial	initial	ADJ
fbem-31299	120	38	sample	sample	NOUN
fbem-31299	120	39	.	.	PUNCT
fbem-31299	121	1	the	the	DET
fbem-31299	121	2	following	follow	VERB
fbem-31299	121	3	adjustments	adjustment	NOUN
fbem-31299	121	4	were	be	AUX
fbem-31299	121	5	made	make	VERB
fbem-31299	121	6	:	:	PUNCT
fbem-31299	121	7	excluded	exclude	VERB
fbem-31299	121	8	firms	firm	NOUN
fbem-31299	121	9	in	in	ADP
fbem-31299	121	10	the	the	DET
fbem-31299	121	11	financial	financial	ADJ
fbem-31299	121	12	and	and	CCONJ
fbem-31299	121	13	insurance	insurance	NOUN
fbem-31299	121	14	sectors	sector	NOUN
fbem-31299	121	15	.	.	PUNCT
fbem-31299	122	1	excluded	exclude	VERB
fbem-31299	122	2	st	st	PROPN
fbem-31299	122	3	and	and	CCONJ
fbem-31299	122	4	*	*	PROPN
fbem-31299	122	5	st	st	PROPN
fbem-31299	122	6	companies	company	NOUN
fbem-31299	122	7	.	.	PUNCT
fbem-31299	123	1	excluded	exclude	VERB
fbem-31299	123	2	samples	sample	NOUN
fbem-31299	123	3	with	with	ADP
fbem-31299	123	4	missing	miss	VERB
fbem-31299	123	5	data	datum	NOUN
fbem-31299	123	6	.	.	PUNCT
fbem-31299	124	1	the	the	DET
fbem-31299	124	2	final	final	ADJ
fbem-31299	124	3	dataset	dataset	NOUN
fbem-31299	124	4	consists	consist	NOUN
fbem-31299	124	5	of	of	ADP
fbem-31299	124	6	9,928	9,928	NUM
fbem-31299	124	7	firm	firm	ADJ
fbem-31299	124	8	-	-	PUNCT
fbem-31299	124	9	year	year	NOUN
fbem-31299	124	10	observations	observation	NOUN
fbem-31299	124	11	,	,	PUNCT
fbem-31299	124	12	sourced	source	VERB
fbem-31299	124	13	from	from	ADP
fbem-31299	124	14	the	the	DET
fbem-31299	124	15	csmar	csmar	PROPN
fbem-31299	124	16	database	database	NOUN
fbem-31299	124	17	.	.	PUNCT
fbem-31299	125	1	3.2	3.2	NUM
fbem-31299	125	2	.	.	PUNCT
fbem-31299	126	1	empirical	empirical	ADJ
fbem-31299	126	2	models	model	NOUN
fbem-31299	126	3	to	to	PART
fbem-31299	126	4	examine	examine	VERB
fbem-31299	126	5	the	the	DET
fbem-31299	126	6	impact	impact	NOUN
fbem-31299	126	7	of	of	ADP
fbem-31299	126	8	patient	patient	ADJ
fbem-31299	126	9	capital	capital	NOUN
fbem-31299	126	10	on	on	ADP
fbem-31299	126	11	enterprise	enterprise	NOUN
fbem-31299	126	12	resilience	resilience	NOUN
fbem-31299	126	13	,	,	PUNCT
fbem-31299	126	14	this	this	DET
fbem-31299	126	15	study	study	NOUN
fbem-31299	126	16	adopts	adopt	VERB
fbem-31299	126	17	the	the	DET
fbem-31299	126	18	high	high	ADV
fbem-31299	126	19	-	-	PUNCT
fbem-31299	126	20	dimensional	dimensional	ADJ
fbem-31299	126	21	fixedeffects	fixedeffect	NOUN
fbem-31299	126	22	regression	regression	NOUN
fbem-31299	126	23	model	model	NOUN
fbem-31299	126	24	,	,	PUNCT
fbem-31299	126	25	following	follow	VERB
fbem-31299	126	26	the	the	DET
fbem-31299	126	27	approach	approach	NOUN
fbem-31299	126	28	of	of	ADP
fbem-31299	126	29	yang	yang	PROPN
fbem-31299	126	30	fang	fang	PROPN
fbem-31299	126	31	et	et	PROPN
fbem-31299	126	32	al	al	PROPN
fbem-31299	126	33	.	.	PUNCT
fbem-31299	127	1	[	[	X
fbem-31299	127	2	39	39	NUM
fbem-31299	127	3	]	]	PUNCT
fbem-31299	127	4	,	,	PUNCT
fbem-31299	127	5	and	and	CCONJ
fbem-31299	127	6	employs	employ	VERB
fbem-31299	127	7	a	a	DET
fbem-31299	127	8	stepwise	stepwise	ADJ
fbem-31299	127	9	regression	regression	NOUN
fbem-31299	127	10	method	method	NOUN
fbem-31299	127	11	to	to	PART
fbem-31299	127	12	empirically	empirically	ADV
fbem-31299	127	13	analyze	analyze	VERB
fbem-31299	127	14	the	the	DET
fbem-31299	127	15	relationship	relationship	NOUN
fbem-31299	127	16	among	among	ADP
fbem-31299	127	17	patient	patient	ADJ
fbem-31299	127	18	capital	capital	NOUN
fbem-31299	127	19	,	,	PUNCT
fbem-31299	127	20	innovation	innovation	NOUN
fbem-31299	127	21	performance	performance	NOUN
fbem-31299	127	22	,	,	PUNCT
fbem-31299	127	23	and	and	CCONJ
fbem-31299	127	24	enterprise	enterprise	NOUN
fbem-31299	127	25	resilience	resilience	NOUN
fbem-31299	127	26	.	.	PUNCT
fbem-31299	128	1	the	the	DET
fbem-31299	128	2	models	model	NOUN
fbem-31299	128	3	are	be	AUX
fbem-31299	128	4	constructed	construct	VERB
fbem-31299	128	5	as	as	SCONJ
fbem-31299	128	6	follows	follow	VERB
fbem-31299	128	7	:	:	PUNCT
fbem-31299	128	8	first	first	ADV
fbem-31299	128	9	,	,	PUNCT
fbem-31299	128	10	to	to	PART
fbem-31299	128	11	test	test	VERB
fbem-31299	128	12	hypothesis	hypothesis	NOUN
fbem-31299	128	13	h1	h1	PROPN
fbem-31299	128	14	,	,	PUNCT
fbem-31299	128	15	the	the	DET
fbem-31299	128	16	baseline	baseline	NOUN
fbem-31299	128	17	model	model	NOUN
fbem-31299	128	18	measures	measure	VERB
fbem-31299	128	19	the	the	DET
fbem-31299	128	20	relationship	relationship	NOUN
fbem-31299	128	21	between	between	ADP
fbem-31299	128	22	enterprise	enterprise	NOUN
fbem-31299	128	23	resilience	resilience	NOUN
fbem-31299	128	24	(	(	PUNCT
fbem-31299	128	25	res	re	NOUN
fbem-31299	128	26	)	)	PUNCT
fbem-31299	128	27	and	and	CCONJ
fbem-31299	128	28	patient	patient	ADJ
fbem-31299	128	29	capital	capital	NOUN
fbem-31299	128	30	(	(	PUNCT
fbem-31299	128	31	invest	inv	ADJ
fbem-31299	128	32	):	):	PUNCT
fbem-31299	129	1	resit	resit	NOUN
fbem-31299	129	2	=	=	SYM
fbem-31299	129	3	β0	β0	PROPN
fbem-31299	129	4	+	+	NUM
fbem-31299	129	5	β1investit	β1investit	NOUN
fbem-31299	129	6	+	+	CCONJ
fbem-31299	129	7	γcontrolsit	γcontrolsit	NOUN
fbem-31299	129	8	+	+	NUM
fbem-31299	129	9	year	year	NOUN
fbem-31299	130	1	+	+	CCONJ
fbem-31299	130	2	firm	firm	ADJ
fbem-31299	130	3	+	+	CCONJ
fbem-31299	130	4	εit	εit	NOUN
fbem-31299	130	5	secondly	secondly	ADV
fbem-31299	130	6	,	,	PUNCT
fbem-31299	130	7	we	we	PRON
fbem-31299	130	8	construct	construct	VERB
fbem-31299	130	9	the	the	DET
fbem-31299	130	10	mediation	mediation	NOUN
fbem-31299	130	11	effect	effect	NOUN
fbem-31299	130	12	models	model	NOUN
fbem-31299	130	13	for	for	ADP
fbem-31299	130	14	innovation	innovation	NOUN
fbem-31299	130	15	performance	performance	NOUN
fbem-31299	130	16	(	(	PUNCT
fbem-31299	130	17	ie	ie	X
fbem-31299	130	18	)	)	PUNCT
fbem-31299	130	19	and	and	CCONJ
fbem-31299	130	20	financing	financing	NOUN
fbem-31299	130	21	constraints	constraint	NOUN
fbem-31299	130	22	(	(	PUNCT
fbem-31299	130	23	fc	fc	INTJ
fbem-31299	130	24	)	)	PUNCT
fbem-31299	130	25	to	to	PART
fbem-31299	130	26	test	test	VERB
fbem-31299	130	27	whether	whether	SCONJ
fbem-31299	130	28	h2a	h2a	NOUN
fbem-31299	130	29	and	and	CCONJ
fbem-31299	130	30	h2b	h2b	PROPN
fbem-31299	130	31	hold	hold	VERB
fbem-31299	130	32	:	:	PUNCT
fbem-31299	130	33	ieit	ieit	NOUN
fbem-31299	130	34	=	=	SYM
fbem-31299	131	1	β0	β0	NOUN
fbem-31299	131	2	+	+	NUM
fbem-31299	131	3	β1investit	β1investit	NOUN
fbem-31299	131	4	+	+	CCONJ
fbem-31299	131	5	γcontrolsit	γcontrolsit	NOUN
fbem-31299	131	6	+	+	NUM
fbem-31299	131	7	year	year	NOUN
fbem-31299	131	8	+	+	CCONJ
fbem-31299	131	9	firm	firm	ADJ
fbem-31299	131	10	+	+	CCONJ
fbem-31299	131	11	εit	εit	NOUN
fbem-31299	131	12	fcit	fcit	NOUN
fbem-31299	131	13	=	=	PROPN
fbem-31299	132	1	β0	β0	PROPN
fbem-31299	132	2	+	+	NUM
fbem-31299	132	3	β1investit	β1investit	NOUN
fbem-31299	132	4	+	+	CCONJ
fbem-31299	132	5	γcontrolsit	γcontrolsit	NOUN
fbem-31299	132	6	+	+	NUM
fbem-31299	132	7	year	year	NOUN
fbem-31299	132	8	+	+	CCONJ
fbem-31299	132	9	firm	firm	ADJ
fbem-31299	132	10	+	+	CCONJ
fbem-31299	132	11	εit	εit	NOUN
fbem-31299	132	12	resit	resit	NOUN
fbem-31299	132	13	=	=	SYM
fbem-31299	132	14	β0	β0	NOUN
fbem-31299	133	1	+	+	NUM
fbem-31299	133	2	β1investit	β1investit	NOUN
fbem-31299	133	3	+	+	CCONJ
fbem-31299	133	4	β3ieit	β3ieit	NOUN
fbem-31299	133	5	+	+	CCONJ
fbem-31299	133	6	γcontrolsit	γcontrolsit	NOUN
fbem-31299	133	7	+	+	NUM
fbem-31299	133	8	year	year	NOUN
fbem-31299	133	9	+	+	CCONJ
fbem-31299	133	10	firm	firm	ADJ
fbem-31299	133	11	+	+	CCONJ
fbem-31299	133	12	εit	εit	NOUN
fbem-31299	133	13	resit	resit	NOUN
fbem-31299	133	14	=	=	SYM
fbem-31299	134	1	β0	β0	PROPN
fbem-31299	134	2	+	+	NUM
fbem-31299	134	3	β1investit	β1investit	NOUN
fbem-31299	134	4	+	+	CCONJ
fbem-31299	134	5	β3fcit	β3fcit	ADJ
fbem-31299	134	6	+	+	CCONJ
fbem-31299	134	7	γcontrolsit	γcontrolsit	NOUN
fbem-31299	134	8	+	+	NUM
fbem-31299	134	9	year	year	NOUN
fbem-31299	135	1	+	+	CCONJ
fbem-31299	135	2	firm	firm	ADJ
fbem-31299	135	3	+	+	CCONJ
fbem-31299	135	4	εit	εit	NOUN
fbem-31299	135	5	finally	finally	ADV
fbem-31299	135	6	,	,	PUNCT
fbem-31299	135	7	for	for	ADP
fbem-31299	135	8	h3	h3	NOUN
fbem-31299	135	9	,	,	PUNCT
fbem-31299	135	10	we	we	PRON
fbem-31299	135	11	build	build	VERB
fbem-31299	135	12	the	the	DET
fbem-31299	135	13	following	follow	VERB
fbem-31299	135	14	model	model	NOUN
fbem-31299	135	15	to	to	PART
fbem-31299	135	16	examine	examine	VERB
fbem-31299	135	17	the	the	DET
fbem-31299	135	18	moderating	moderate	VERB
fbem-31299	135	19	effect	effect	NOUN
fbem-31299	135	20	of	of	ADP
fbem-31299	135	21	first	first	ADJ
fbem-31299	135	22	-	-	PUNCT
fbem-31299	135	23	tier	tier	NOUN
fbem-31299	135	24	agency	agency	NOUN
fbem-31299	135	25	costs	cost	NOUN
fbem-31299	135	26	(	(	PUNCT
fbem-31299	135	27	ac	ac	PROPN
fbem-31299	135	28	):	):	PUNCT
fbem-31299	136	1	resit	resit	NOUN
fbem-31299	136	2	=	=	SYM
fbem-31299	136	3	β0	β0	PROPN
fbem-31299	137	1	+	+	NUM
fbem-31299	137	2	β1investit	β1investit	NOUN
fbem-31299	137	3	+	+	CCONJ
fbem-31299	137	4	β2investit	β2investit	PROPN
fbem-31299	137	5	∗	∗	NOUN
fbem-31299	137	6	acit	acit	NOUN
fbem-31299	138	1	+	+	CCONJ
fbem-31299	138	2	β3acit	β3acit	ADJ
fbem-31299	138	3	+	+	CCONJ
fbem-31299	138	4	γcontrolsit	γcontrolsit	NOUN
fbem-31299	138	5	+	+	NUM
fbem-31299	138	6	year	year	NOUN
fbem-31299	138	7	+	+	CCONJ
fbem-31299	138	8	firm	firm	ADJ
fbem-31299	138	9	+	+	CCONJ
fbem-31299	138	10	εit	εit	VERB
fbem-31299	138	11	where	where	SCONJ
fbem-31299	138	12	:	:	PUNCT
fbem-31299	138	13	resit	resit	NOUN
fbem-31299	138	14	represents	represent	VERB
fbem-31299	138	15	the	the	DET
fbem-31299	138	16	enterprise	enterprise	NOUN
fbem-31299	138	17	resilience	resilience	NOUN
fbem-31299	138	18	of	of	ADP
fbem-31299	138	19	firm	firm	ADJ
fbem-31299	138	20	i	i	PRON
fbem-31299	138	21	in	in	ADP
fbem-31299	138	22	year	year	PROPN
fbem-31299	138	23	t	t	PROPN
fbem-31299	138	24	,	,	PUNCT
fbem-31299	138	25	investit	investit	NOUN
fbem-31299	138	26	represents	represent	VERB
fbem-31299	138	27	the	the	DET
fbem-31299	138	28	proportion	proportion	NOUN
fbem-31299	138	29	of	of	ADP
fbem-31299	138	30	patient	patient	ADJ
fbem-31299	138	31	capital	capital	NOUN
fbem-31299	138	32	investment	investment	NOUN
fbem-31299	138	33	of	of	ADP
fbem-31299	138	34	firm	firm	ADJ
fbem-31299	138	35	i	i	PRON
fbem-31299	138	36	in	in	ADP
fbem-31299	138	37	year	year	NOUN
fbem-31299	138	38	t	t	PROPN
fbem-31299	138	39	,	,	PUNCT
fbem-31299	138	40	controls	control	VERB
fbem-31299	138	41	denotes	denote	NOUN
fbem-31299	138	42	control	control	VERB
fbem-31299	138	43	variables	variable	NOUN
fbem-31299	138	44	including	include	VERB
fbem-31299	138	45	:	:	PUNCT
fbem-31299	138	46	current	current	ADJ
fbem-31299	138	47	ratio	ratio	NOUN
fbem-31299	138	48	,	,	PUNCT
fbem-31299	138	49	firm	firm	ADJ
fbem-31299	138	50	nature	nature	NOUN
fbem-31299	138	51	(	(	PUNCT
fbem-31299	138	52	soe	soe	PROPN
fbem-31299	138	53	)	)	PUNCT
fbem-31299	138	54	,	,	PUNCT
fbem-31299	138	55	board	board	NOUN
fbem-31299	138	56	size	size	NOUN
fbem-31299	138	57	,	,	PUNCT
fbem-31299	138	58	proportion	proportion	NOUN
fbem-31299	138	59	of	of	ADP
fbem-31299	138	60	independent	independent	ADJ
fbem-31299	138	61	directors	director	NOUN
fbem-31299	138	62	,	,	PUNCT
fbem-31299	138	63	ceo	ceo	NOUN
fbem-31299	138	64	duality	duality	NOUN
fbem-31299	138	65	,	,	PUNCT
fbem-31299	138	66	operating	operate	VERB
fbem-31299	138	67	income	income	NOUN
fbem-31299	138	68	growth	growth	NOUN
fbem-31299	138	69	rate	rate	NOUN
fbem-31299	138	70	,	,	PUNCT
fbem-31299	138	71	return	return	VERB
fbem-31299	138	72	on	on	ADP
fbem-31299	138	73	assets	asset	NOUN
fbem-31299	138	74	(	(	PUNCT
fbem-31299	138	75	roa	roa	NOUN
fbem-31299	138	76	)	)	PUNCT
fbem-31299	138	77	,	,	PUNCT
fbem-31299	138	78	tobin	tobin	PROPN
fbem-31299	138	79	's	's	PART
fbem-31299	138	80	q	q	NOUN
fbem-31299	138	81	,	,	PUNCT
fbem-31299	138	82	herfindahl-10	herfindahl-10	PROPN
fbem-31299	138	83	index	index	NOUN
fbem-31299	138	84	,	,	PUNCT
fbem-31299	138	85	listing	list	VERB
fbem-31299	138	86	age	age	NOUN
fbem-31299	138	87	,	,	PUNCT
fbem-31299	138	88	book	book	NOUN
fbem-31299	138	89	-	-	PUNCT
fbem-31299	138	90	to	to	ADP
fbem-31299	138	91	-	-	PUNCT
fbem-31299	138	92	market	market	NOUN
fbem-31299	138	93	ratio	ratio	NOUN
fbem-31299	138	94	,	,	PUNCT
fbem-31299	138	95	debt	debt	NOUN
fbem-31299	138	96	-	-	PUNCT
fbem-31299	138	97	to	to	ADP
fbem-31299	138	98	-	-	PUNCT
fbem-31299	138	99	equity	equity	NOUN
fbem-31299	138	100	ratio	ratio	NOUN
fbem-31299	138	101	,	,	PUNCT
fbem-31299	138	102	and	and	CCONJ
fbem-31299	138	103	management	management	NOUN
fbem-31299	138	104	shareholding	shareholding	NOUN
fbem-31299	138	105	ratio	ratio	NOUN
fbem-31299	138	106	,	,	PUNCT
fbem-31299	138	107	etc	etc	X
fbem-31299	138	108	.	.	X
fbem-31299	138	109	year	year	NOUN
fbem-31299	138	110	and	and	CCONJ
fbem-31299	138	111	firm	firm	NOUN
fbem-31299	138	112	represent	represent	VERB
fbem-31299	138	113	the	the	DET
fbem-31299	138	114	controlled	control	VERB
fbem-31299	138	115	year	year	NOUN
fbem-31299	138	116	and	and	CCONJ
fbem-31299	138	117	firm	firm	ADJ
fbem-31299	138	118	fixed	fix	VERB
fbem-31299	138	119	effects	effect	NOUN
fbem-31299	138	120	,	,	PUNCT
fbem-31299	138	121	respectively	respectively	ADV
fbem-31299	138	122	.	.	PUNCT
fbem-31299	139	1	3.3	3.3	NUM
fbem-31299	139	2	.	.	PUNCT
fbem-31299	140	1	variable	variable	ADJ
fbem-31299	140	2	definitions	definition	NOUN
fbem-31299	140	3	3.3.1	3.3.1	NUM
fbem-31299	140	4	.	.	PUNCT
fbem-31299	141	1	dependent	dependent	ADJ
fbem-31299	141	2	variable	variable	ADJ
fbem-31299	141	3	enterprise	enterprise	NOUN
fbem-31299	141	4	resilience	resilience	NOUN
fbem-31299	141	5	:	:	PUNCT
fbem-31299	141	6	following	follow	VERB
fbem-31299	141	7	the	the	DET
fbem-31299	141	8	indirect	indirect	ADJ
fbem-31299	141	9	measurement	measurement	NOUN
fbem-31299	141	10	approach	approach	NOUN
fbem-31299	141	11	of	of	ADP
fbem-31299	141	12	lai	lai	PROPN
fbem-31299	141	13	et	et	PROPN
fbem-31299	141	14	al	al	PROPN
fbem-31299	141	15	.	.	PUNCT
fbem-31299	142	1	[	[	X
fbem-31299	142	2	40	40	NUM
fbem-31299	142	3	]	]	PUNCT
fbem-31299	142	4	and	and	CCONJ
fbem-31299	142	5	drawing	draw	VERB
fbem-31299	142	6	on	on	ADP
fbem-31299	142	7	the	the	DET
fbem-31299	142	8	methodology	methodology	NOUN
fbem-31299	142	9	of	of	ADP
fbem-31299	142	10	ortiz	ortiz	PROPN
fbem-31299	142	11	&	&	CCONJ
fbem-31299	142	12	bansal	bansal	PROPN
fbem-31299	142	13	,	,	PUNCT
fbem-31299	142	14	enterprise	enterprise	NOUN
fbem-31299	142	15	resilience	resilience	NOUN
fbem-31299	142	16	is	be	AUX
fbem-31299	142	17	conceptualized	conceptualize	VERB
fbem-31299	142	18	as	as	ADP
fbem-31299	142	19	a	a	DET
fbem-31299	142	20	two	two	NUM
fbem-31299	142	21	-	-	PUNCT
fbem-31299	142	22	dimensional	dimensional	ADJ
fbem-31299	142	23	structure	structure	NOUN
fbem-31299	142	24	comprising	comprise	VERB
fbem-31299	142	25	low	low	ADJ
fbem-31299	142	26	financial	financial	ADJ
fbem-31299	142	27	volatility	volatility	NOUN
fbem-31299	142	28	and	and	CCONJ
fbem-31299	142	29	high	high	ADJ
fbem-31299	142	30	growth	growth	NOUN
fbem-31299	142	31	capability	capability	NOUN
fbem-31299	142	32	:	:	PUNCT
fbem-31299	142	33	volatility	volatility	NOUN
fbem-31299	142	34	:	:	PUNCT
fbem-31299	142	35	measured	measure	VERB
fbem-31299	142	36	by	by	ADP
fbem-31299	142	37	the	the	DET
fbem-31299	142	38	standard	standard	ADJ
fbem-31299	142	39	deviation	deviation	NOUN
fbem-31299	142	40	of	of	ADP
fbem-31299	142	41	quarterly	quarterly	ADJ
fbem-31299	142	42	stock	stock	NOUN
fbem-31299	142	43	returns	return	NOUN
fbem-31299	142	44	over	over	ADP
fbem-31299	142	45	one	one	NUM
fbem-31299	142	46	year	year	NOUN
fbem-31299	142	47	.	.	PUNCT
fbem-31299	143	1	growth	growth	NOUN
fbem-31299	143	2	:	:	PUNCT
fbem-31299	143	3	measured	measure	VERB
fbem-31299	143	4	by	by	ADP
fbem-31299	143	5	the	the	DET
fbem-31299	143	6	cumulative	cumulative	ADJ
fbem-31299	143	7	growth	growth	NOUN
fbem-31299	143	8	in	in	ADP
fbem-31299	143	9	sales	sale	NOUN
fbem-31299	143	10	revenue	revenue	NOUN
fbem-31299	143	11	over	over	ADP
fbem-31299	143	12	three	three	NUM
fbem-31299	143	13	years	year	NOUN
fbem-31299	143	14	.	.	PUNCT
fbem-31299	144	1	a	a	DET
fbem-31299	144	2	lower	low	ADJ
fbem-31299	144	3	volatility	volatility	NOUN
fbem-31299	144	4	and	and	CCONJ
fbem-31299	144	5	higher	high	ADJ
fbem-31299	144	6	growth	growth	NOUN
fbem-31299	144	7	indicate	indicate	VERB
fbem-31299	144	8	stronger	strong	ADJ
fbem-31299	144	9	enterprise	enterprise	NOUN
fbem-31299	144	10	resilience	resilience	NOUN
fbem-31299	144	11	.	.	PUNCT
fbem-31299	145	1	3.3.2	3.3.2	X
fbem-31299	145	2	.	.	PUNCT
fbem-31299	146	1	independent	independent	ADJ
fbem-31299	146	2	variable	variable	ADJ
fbem-31299	146	3	patient	patient	ADJ
fbem-31299	146	4	capital	capital	NOUN
fbem-31299	146	5	(	(	PUNCT
fbem-31299	146	6	invest	inv	ADJ
fbem-31299	146	7	):	):	PUNCT
fbem-31299	146	8	based	base	VERB
fbem-31299	146	9	on	on	ADP
fbem-31299	146	10	the	the	DET
fbem-31299	146	11	methodologies	methodology	NOUN
fbem-31299	146	12	of	of	ADP
fbem-31299	146	13	jiang	jiang	PROPN
fbem-31299	146	14	et	et	PROPN
fbem-31299	146	15	al	al	PROPN
fbem-31299	146	16	.	.	PUNCT
fbem-31299	147	1	[	[	X
fbem-31299	147	2	8	8	NUM
fbem-31299	147	3	]	]	PUNCT
fbem-31299	147	4	and	and	CCONJ
fbem-31299	147	5	wu	wu	PROPN
fbem-31299	147	6	et	et	PROPN
fbem-31299	147	7	al	al	PROPN
fbem-31299	147	8	.	.	PUNCT
fbem-31299	148	1	[	[	X
fbem-31299	148	2	7	7	NUM
fbem-31299	148	3	]	]	PUNCT
fbem-31299	148	4	,	,	PUNCT
fbem-31299	148	5	institutional	institutional	ADJ
fbem-31299	148	6	investors	investor	NOUN
fbem-31299	148	7	are	be	AUX
fbem-31299	148	8	categorized	categorize	VERB
fbem-31299	148	9	into	into	ADP
fbem-31299	148	10	high	high	ADJ
fbem-31299	148	11	,	,	PUNCT
fbem-31299	148	12	medium	medium	ADJ
fbem-31299	148	13	,	,	PUNCT
fbem-31299	148	14	and	and	CCONJ
fbem-31299	148	15	low	low	ADJ
fbem-31299	148	16	turnover	turnover	NOUN
fbem-31299	148	17	groups	group	NOUN
fbem-31299	148	18	according	accord	VERB
fbem-31299	148	19	to	to	ADP
fbem-31299	148	20	their	their	PRON
fbem-31299	148	21	average	average	ADJ
fbem-31299	148	22	turnover	turnover	NOUN
fbem-31299	148	23	rate	rate	NOUN
fbem-31299	148	24	.	.	PUNCT
fbem-31299	149	1	the	the	DET
fbem-31299	149	2	group	group	NOUN
fbem-31299	149	3	with	with	ADP
fbem-31299	149	4	the	the	DET
fbem-31299	149	5	lowest	low	ADJ
fbem-31299	149	6	turnover	turnover	NOUN
fbem-31299	149	7	is	be	AUX
fbem-31299	149	8	identified	identify	VERB
fbem-31299	149	9	as	as	ADP
fbem-31299	149	10	stable	stable	ADJ
fbem-31299	149	11	institutional	institutional	ADJ
fbem-31299	149	12	investors	investor	NOUN
fbem-31299	149	13	,	,	PUNCT
fbem-31299	149	14	and	and	CCONJ
fbem-31299	149	15	the	the	DET
fbem-31299	149	16	proportion	proportion	NOUN
fbem-31299	149	17	of	of	ADP
fbem-31299	149	18	their	their	PRON
fbem-31299	149	19	equity	equity	NOUN
fbem-31299	149	20	holdings	holding	NOUN
fbem-31299	149	21	(	(	PUNCT
fbem-31299	149	22	i.e.	i.e.	X
fbem-31299	149	23	,	,	PUNCT
fbem-31299	149	24	patient	patient	ADJ
fbem-31299	149	25	capital	capital	NOUN
fbem-31299	149	26	)	)	PUNCT
fbem-31299	149	27	relative	relative	ADJ
fbem-31299	149	28	to	to	ADP
fbem-31299	149	29	total	total	ADJ
fbem-31299	149	30	equity	equity	NOUN
fbem-31299	149	31	is	be	AUX
fbem-31299	149	32	calculated	calculate	VERB
fbem-31299	149	33	.	.	PUNCT
fbem-31299	150	1	this	this	DET
fbem-31299	150	2	operational	operational	ADJ
fbem-31299	150	3	definition	definition	NOUN
fbem-31299	150	4	captures	capture	VERB
fbem-31299	150	5	the	the	DET
fbem-31299	150	6	core	core	ADJ
fbem-31299	150	7	characteristic	characteristic	NOUN
fbem-31299	150	8	of	of	ADP
fbem-31299	150	9	patient	patient	ADJ
fbem-31299	150	10	capital	capital	NOUN
fbem-31299	150	11	as	as	ADP
fbem-31299	150	12	a	a	DET
fbem-31299	150	13	long	long	ADJ
fbem-31299	150	14	-	-	PUNCT
fbem-31299	150	15	term	term	NOUN
fbem-31299	150	16	investment	investment	NOUN
fbem-31299	150	17	—	—	PUNCT
fbem-31299	150	18	prioritizing	prioritize	VERB
fbem-31299	150	19	sustained	sustained	ADJ
fbem-31299	150	20	returns	return	NOUN
fbem-31299	150	21	and	and	CCONJ
fbem-31299	150	22	developmental	developmental	ADJ
fbem-31299	150	23	prospects	prospect	NOUN
fbem-31299	150	24	over	over	ADP
fbem-31299	150	25	shortterm	shortterm	PROPN
fbem-31299	150	26	market	market	NOUN
fbem-31299	150	27	fluctuations	fluctuation	NOUN
fbem-31299	150	28	.	.	PUNCT
fbem-31299	151	1	by	by	ADP
fbem-31299	151	2	quantifying	quantify	VERB
fbem-31299	151	3	the	the	DET
fbem-31299	151	4	proportion	proportion	NOUN
fbem-31299	151	5	of	of	ADP
fbem-31299	151	6	stable	stable	ADJ
fbem-31299	151	7	equity	equity	NOUN
fbem-31299	151	8	,	,	PUNCT
fbem-31299	151	9	this	this	DET
fbem-31299	151	10	measure	measure	NOUN
fbem-31299	151	11	effectively	effectively	ADV
fbem-31299	151	12	reflects	reflect	VERB
fbem-31299	151	13	the	the	DET
fbem-31299	151	14	degree	degree	NOUN
fbem-31299	151	15	of	of	ADP
fbem-31299	151	16	long	long	ADJ
fbem-31299	151	17	-	-	PUNCT
fbem-31299	151	18	term	term	NOUN
fbem-31299	151	19	capital	capital	NOUN
fbem-31299	151	20	commitment	commitment	NOUN
fbem-31299	151	21	and	and	CCONJ
fbem-31299	151	22	its	its	PRON
fbem-31299	151	23	impact	impact	NOUN
fbem-31299	151	24	on	on	ADP
fbem-31299	151	25	enterprise	enterprise	NOUN
fbem-31299	151	26	development	development	NOUN
fbem-31299	151	27	.	.	PUNCT
fbem-31299	152	1	3.3.3	3.3.3	X
fbem-31299	152	2	.	.	PUNCT
fbem-31299	153	1	mediating	mediate	VERB
fbem-31299	153	2	variables	variable	NOUN
fbem-31299	153	3	innovation	innovation	NOUN
fbem-31299	153	4	performance	performance	NOUN
fbem-31299	153	5	(	(	PUNCT
fbem-31299	153	6	ie	ie	X
fbem-31299	153	7	):	):	PUNCT
fbem-31299	153	8	this	this	DET
fbem-31299	153	9	study	study	NOUN
fbem-31299	153	10	adopts	adopt	VERB
fbem-31299	153	11	the	the	DET
fbem-31299	153	12	patent	patent	NOUN
fbem-31299	153	13	application	application	NOUN
fbem-31299	153	14	intensity	intensity	NOUN
fbem-31299	153	15	indicator	indicator	NOUN
fbem-31299	153	16	to	to	PART
fbem-31299	153	17	measure	measure	VERB
fbem-31299	153	18	innovation	innovation	NOUN
fbem-31299	153	19	performance	performance	NOUN
fbem-31299	153	20	(	(	PUNCT
fbem-31299	153	21	ie	ie	X
fbem-31299	153	22	)	)	PUNCT
fbem-31299	153	23	,	,	PUNCT
fbem-31299	153	24	following	follow	VERB
fbem-31299	153	25	existing	exist	VERB
fbem-31299	153	26	research	research	NOUN
fbem-31299	153	27	.	.	PUNCT
fbem-31299	154	1	the	the	DET
fbem-31299	154	2	calculation	calculation	NOUN
fbem-31299	154	3	formula	formula	NOUN
fbem-31299	154	4	is	be	AUX
fbem-31299	154	5	:	:	PUNCT
fbem-31299	154	6	ie	ie	X
fbem-31299	154	7	=	=	ADJ
fbem-31299	154	8	ln	ln	NOUN
fbem-31299	154	9	{	{	PUNCT
fbem-31299	154	10	(	(	PUNCT
fbem-31299	154	11	number	number	NOUN
fbem-31299	154	12	of	of	ADP
fbem-31299	154	13	patent	patent	NOUN
fbem-31299	154	14	applications	application	NOUN
fbem-31299	154	15	)	)	PUNCT
fbem-31299	154	16	/	/	PUNCT
fbem-31299	155	1	[	[	X
fbem-31299	155	2	(	(	PUNCT
fbem-31299	155	3	total	total	ADJ
fbem-31299	155	4	r&d	r&d	NOUN
fbem-31299	155	5	expenditure	expenditure	NOUN
fbem-31299	155	6	over	over	ADP
fbem-31299	155	7	three	three	NUM
fbem-31299	155	8	years	year	NOUN
fbem-31299	155	9	)	)	PUNCT
fbem-31299	155	10	/	/	PUNCT
fbem-31299	156	1	(	(	PUNCT
fbem-31299	156	2	total	total	ADJ
fbem-31299	156	3	assets	asset	NOUN
fbem-31299	156	4	at	at	ADP
fbem-31299	156	5	year	year	NOUN
fbem-31299	156	6	-	-	PUNCT
fbem-31299	156	7	end	end	NOUN
fbem-31299	156	8	)	)	PUNCT
fbem-31299	156	9	]	]	PUNCT
fbem-31299	157	1	+1	+1	X
fbem-31299	157	2	}	}	PUNCT
fbem-31299	157	3	.	.	PUNCT
fbem-31299	158	1	this	this	DET
fbem-31299	158	2	measurement	measurement	NOUN
fbem-31299	158	3	method	method	NOUN
fbem-31299	158	4	accounts	account	VERB
fbem-31299	158	5	for	for	ADP
fbem-31299	158	6	both	both	DET
fbem-31299	158	7	innovation	innovation	NOUN
fbem-31299	158	8	output	output	NOUN
fbem-31299	158	9	(	(	PUNCT
fbem-31299	158	10	patent	patent	NOUN
fbem-31299	158	11	applications	application	NOUN
fbem-31299	158	12	)	)	PUNCT
fbem-31299	158	13	and	and	CCONJ
fbem-31299	158	14	the	the	DET
fbem-31299	158	15	scale	scale	NOUN
fbem-31299	158	16	of	of	ADP
fbem-31299	158	17	r&d	r&d	NOUN
fbem-31299	158	18	investment	investment	NOUN
fbem-31299	158	19	[	[	X
fbem-31299	158	20	8	8	NUM
fbem-31299	158	21	,	,	PUNCT
fbem-31299	158	22	17	17	NUM
fbem-31299	158	23	]	]	PUNCT
fbem-31299	158	24	.	.	PUNCT
fbem-31299	159	1	financing	financing	NOUN
fbem-31299	159	2	constraints	constraint	NOUN
fbem-31299	159	3	(	(	PUNCT
fbem-31299	159	4	fc	fc	INTJ
fbem-31299	159	5	):	):	PUNCT
fbem-31299	159	6	financing	financing	NOUN
fbem-31299	159	7	constraints	constraint	NOUN
fbem-31299	159	8	are	be	AUX
fbem-31299	159	9	measured	measure	VERB
fbem-31299	159	10	using	use	VERB
fbem-31299	159	11	the	the	DET
fbem-31299	159	12	ww	ww	PROPN
fbem-31299	159	13	index	index	NOUN
fbem-31299	159	14	,	,	PUNCT
fbem-31299	159	15	which	which	PRON
fbem-31299	159	16	is	be	AUX
fbem-31299	159	17	constructed	construct	VERB
fbem-31299	159	18	based	base	VERB
fbem-31299	159	19	on	on	ADP
fbem-31299	159	20	six	six	NUM
fbem-31299	159	21	financial	financial	ADJ
fbem-31299	159	22	indicators	indicator	NOUN
fbem-31299	159	23	,	,	PUNCT
fbem-31299	159	24	including	include	VERB
fbem-31299	159	25	cash	cash	NOUN
fbem-31299	159	26	flow	flow	NOUN
fbem-31299	159	27	,	,	PUNCT
fbem-31299	159	28	leverage	leverage	NOUN
fbem-31299	159	29	ratio	ratio	NOUN
fbem-31299	159	30	,	,	PUNCT
fbem-31299	159	31	and	and	CCONJ
fbem-31299	159	32	dividend	dividend	VERB
fbem-31299	159	33	payout	payout	ADJ
fbem-31299	159	34	ratio	ratio	NOUN
fbem-31299	159	35	.	.	PUNCT
fbem-31299	160	1	this	this	DET
fbem-31299	160	2	index	index	NOUN
fbem-31299	160	3	comprehensively	comprehensively	ADV
fbem-31299	160	4	reflects	reflect	VERB
fbem-31299	160	5	the	the	DET
fbem-31299	160	6	degree	degree	NOUN
fbem-31299	160	7	of	of	ADP
fbem-31299	160	8	external	external	ADJ
fbem-31299	160	9	financing	financing	NOUN
fbem-31299	160	10	constraints	constraint	NOUN
fbem-31299	160	11	faced	face	VERB
fbem-31299	160	12	by	by	ADP
fbem-31299	160	13	firms	firm	NOUN
fbem-31299	160	14	and	and	CCONJ
fbem-31299	160	15	has	have	AUX
fbem-31299	160	16	been	be	AUX
fbem-31299	160	17	widely	widely	ADV
fbem-31299	160	18	applied	apply	VERB
fbem-31299	160	19	in	in	ADP
fbem-31299	160	20	studies	study	NOUN
fbem-31299	160	21	of	of	ADP
fbem-31299	160	22	chinese	chinese	ADJ
fbem-31299	160	23	listed	list	VERB
fbem-31299	160	24	companies	company	NOUN
fbem-31299	160	25	[	[	X
fbem-31299	160	26	4	4	NUM
fbem-31299	160	27	,	,	PUNCT
fbem-31299	160	28	16	16	NUM
fbem-31299	160	29	]	]	PUNCT
fbem-31299	160	30	.	.	PUNCT
fbem-31299	161	1	a	a	DET
fbem-31299	161	2	higher	high	ADJ
fbem-31299	161	3	ww	ww	PROPN
fbem-31299	161	4	index	index	NOUN
fbem-31299	161	5	value	value	NOUN
fbem-31299	161	6	indicates	indicate	VERB
fbem-31299	161	7	more	more	ADV
fbem-31299	161	8	severe	severe	ADJ
fbem-31299	161	9	financing	financing	NOUN
fbem-31299	161	10	constraints	constraint	NOUN
fbem-31299	161	11	.	.	PUNCT
fbem-31299	162	1	3.3.4	3.3.4	X
fbem-31299	162	2	.	.	PUNCT
fbem-31299	162	3	moderating	moderate	VERB
fbem-31299	162	4	variable	variable	ADJ
fbem-31299	162	5	this	this	DET
fbem-31299	162	6	study	study	NOUN
fbem-31299	162	7	uses	use	VERB
fbem-31299	162	8	the	the	DET
fbem-31299	162	9	management	management	NOUN
fbem-31299	162	10	expense	expense	NOUN
fbem-31299	162	11	ratio	ratio	NOUN
fbem-31299	162	12	as	as	ADP
fbem-31299	162	13	a	a	DET
fbem-31299	162	14	proxy	proxy	NOUN
fbem-31299	162	15	for	for	ADP
fbem-31299	162	16	first	first	ADJ
fbem-31299	162	17	-	-	PUNCT
fbem-31299	162	18	tier	tier	NOUN
fbem-31299	162	19	agency	agency	NOUN
fbem-31299	162	20	costs	cost	NOUN
fbem-31299	162	21	(	(	PUNCT
fbem-31299	162	22	ac	ac	PROPN
fbem-31299	162	23	)	)	PUNCT
fbem-31299	163	1	[	[	X
fbem-31299	163	2	41	41	NUM
fbem-31299	163	3	]	]	PUNCT
fbem-31299	163	4	.	.	PUNCT
fbem-31299	164	1	this	this	DET
fbem-31299	164	2	indicator	indicator	NOUN
fbem-31299	164	3	is	be	AUX
fbem-31299	164	4	calculated	calculate	VERB
fbem-31299	164	5	as	as	ADP
fbem-31299	164	6	the	the	DET
fbem-31299	164	7	ratio	ratio	NOUN
fbem-31299	164	8	of	of	ADP
fbem-31299	164	9	management	management	NOUN
fbem-31299	164	10	expenses	expense	NOUN
fbem-31299	164	11	to	to	ADP
fbem-31299	164	12	operating	operate	VERB
fbem-31299	164	13	revenue	revenue	NOUN
fbem-31299	164	14	and	and	CCONJ
fbem-31299	164	15	effectively	effectively	ADV
fbem-31299	164	16	reflects	reflect	VERB
fbem-31299	164	17	the	the	DET
fbem-31299	164	18	efficiency	efficiency	NOUN
fbem-31299	164	19	losses	loss	NOUN
fbem-31299	164	20	and	and	CCONJ
fbem-31299	164	21	resource	resource	NOUN
fbem-31299	164	22	waste	waste	NOUN
fbem-31299	164	23	caused	cause	VERB
fbem-31299	164	24	by	by	ADP
fbem-31299	164	25	principal	principal	ADJ
fbem-31299	164	26	-	-	PUNCT
fbem-31299	164	27	agent	agent	NOUN
fbem-31299	164	28	problems	problem	NOUN
fbem-31299	164	29	[	[	X
fbem-31299	164	30	4	4	NUM
fbem-31299	164	31	]	]	PUNCT
fbem-31299	164	32	.	.	PUNCT
fbem-31299	165	1	this	this	DET
fbem-31299	165	2	measurement	measurement	NOUN
fbem-31299	165	3	method	method	NOUN
fbem-31299	165	4	has	have	AUX
fbem-31299	165	5	been	be	AUX
fbem-31299	165	6	widely	widely	ADV
fbem-31299	165	7	adopted	adopt	VERB
fbem-31299	165	8	in	in	ADP
fbem-31299	165	9	the	the	DET
fbem-31299	165	10	literature	literature	NOUN
fbem-31299	165	11	because	because	SCONJ
fbem-31299	165	12	a	a	DET
fbem-31299	165	13	higher	high	ADJ
fbem-31299	165	14	management	management	NOUN
fbem-31299	165	15	expense	expense	NOUN
fbem-31299	165	16	ratio	ratio	NOUN
fbem-31299	165	17	typically	typically	ADV
fbem-31299	165	18	indicates	indicate	VERB
fbem-31299	165	19	more	more	ADV
fbem-31299	165	20	severe	severe	ADJ
fbem-31299	165	21	agency	agency	NOUN
fbem-31299	165	22	problems	problem	NOUN
fbem-31299	165	23	,	,	PUNCT
fbem-31299	165	24	including	include	VERB
fbem-31299	165	25	managerial	managerial	ADJ
fbem-31299	165	26	overconsumption	overconsumption	NOUN
fbem-31299	165	27	of	of	ADP
fbem-31299	165	28	perks	perk	NOUN
fbem-31299	165	29	and	and	CCONJ
fbem-31299	165	30	inefficient	inefficient	ADJ
fbem-31299	165	31	expansion	expansion	NOUN
fbem-31299	165	32	due	due	ADP
fbem-31299	165	33	to	to	ADP
fbem-31299	165	34	opportunistic	opportunistic	ADJ
fbem-31299	165	35	behavior	behavior	NOUN
fbem-31299	166	1	[	[	X
fbem-31299	166	2	3	3	NUM
fbem-31299	166	3	]	]	PUNCT
fbem-31299	166	4	.	.	PUNCT
fbem-31299	167	1	3.3.5	3.3.5	X
fbem-31299	167	2	.	.	PUNCT
fbem-31299	168	1	control	control	NOUN
fbem-31299	168	2	variables	variable	VERB
fbem-31299	168	3	the	the	DET
fbem-31299	168	4	control	control	NOUN
fbem-31299	168	5	variables	variable	NOUN
fbem-31299	168	6	selected	select	VERB
fbem-31299	168	7	in	in	ADP
fbem-31299	168	8	this	this	DET
fbem-31299	168	9	study	study	NOUN
fbem-31299	168	10	include	include	VERB
fbem-31299	168	11	:	:	PUNCT
fbem-31299	168	12	current	current	ADJ
fbem-31299	168	13	ratio	ratio	NOUN
fbem-31299	168	14	,	,	PUNCT
fbem-31299	168	15	firm	firm	ADJ
fbem-31299	168	16	nature	nature	NOUN
fbem-31299	168	17	(	(	PUNCT
fbem-31299	168	18	state	state	NOUN
fbem-31299	168	19	-	-	PUNCT
fbem-31299	168	20	owned	own	VERB
fbem-31299	168	21	enterprise	enterprise	NOUN
fbem-31299	168	22	,	,	PUNCT
fbem-31299	168	23	soe	soe	PROPN
fbem-31299	168	24	)	)	PUNCT
fbem-31299	168	25	,	,	PUNCT
fbem-31299	168	26	board	board	NOUN
fbem-31299	168	27	size	size	NOUN
fbem-31299	168	28	,	,	PUNCT
fbem-31299	168	29	proportion	proportion	NOUN
fbem-31299	168	30	of	of	ADP
fbem-31299	168	31	independent	independent	ADJ
fbem-31299	168	32	directors	director	NOUN
fbem-31299	168	33	,	,	PUNCT
fbem-31299	168	34	ceo	ceo	NOUN
fbem-31299	168	35	duality	duality	NOUN
fbem-31299	168	36	(	(	PUNCT
fbem-31299	168	37	whether	whether	SCONJ
fbem-31299	168	38	the	the	DET
fbem-31299	168	39	chairman	chairman	NOUN
fbem-31299	168	40	also	also	ADV
fbem-31299	168	41	serves	serve	VERB
fbem-31299	168	42	as	as	ADP
fbem-31299	168	43	the	the	DET
fbem-31299	168	44	ceo	ceo	NOUN
fbem-31299	168	45	)	)	PUNCT
fbem-31299	168	46	,	,	PUNCT
fbem-31299	168	47	revenue	revenue	NOUN
fbem-31299	168	48	growth	growth	NOUN
fbem-31299	168	49	rate	rate	NOUN
fbem-31299	168	50	,	,	PUNCT
fbem-31299	168	51	return	return	VERB
fbem-31299	168	52	on	on	ADP
fbem-31299	168	53	assets	asset	NOUN
fbem-31299	168	54	(	(	PUNCT
fbem-31299	168	55	roa	roa	NOUN
fbem-31299	168	56	)	)	PUNCT
fbem-31299	168	57	,	,	PUNCT
fbem-31299	168	58	tobin	tobin	PROPN
fbem-31299	168	59	’s	’s	PART
fbem-31299	168	60	q	q	NOUN
fbem-31299	168	61	,	,	PUNCT
fbem-31299	168	62	herfindahl-10	herfindahl-10	ADJ
fbem-31299	168	63	index	index	NOUN
fbem-31299	168	64	(	(	PUNCT
fbem-31299	168	65	measuring	measure	VERB
fbem-31299	168	66	equity	equity	NOUN
fbem-31299	168	67	concentration	concentration	NOUN
fbem-31299	168	68	)	)	PUNCT
fbem-31299	168	69	,	,	PUNCT
fbem-31299	168	70	listing	list	VERB
fbem-31299	168	71	age	age	NOUN
fbem-31299	168	72	,	,	PUNCT
fbem-31299	168	73	book	book	NOUN
fbem-31299	168	74	-	-	PUNCT
fbem-31299	168	75	to	to	ADP
fbem-31299	168	76	109	109	NUM
fbem-31299	168	77	market	market	NOUN
fbem-31299	168	78	ratio	ratio	NOUN
fbem-31299	168	79	(	(	PUNCT
fbem-31299	168	80	bm	bm	PROPN
fbem-31299	168	81	)	)	PUNCT
fbem-31299	168	82	,	,	PUNCT
fbem-31299	168	83	debt	debt	NOUN
fbem-31299	168	84	-	-	PUNCT
fbem-31299	168	85	to	to	ADP
fbem-31299	168	86	-	-	PUNCT
fbem-31299	168	87	equity	equity	NOUN
fbem-31299	168	88	ratio	ratio	NOUN
fbem-31299	168	89	(	(	PUNCT
fbem-31299	168	90	der	der	NOUN
fbem-31299	168	91	)	)	PUNCT
fbem-31299	168	92	,	,	PUNCT
fbem-31299	168	93	management	management	NOUN
fbem-31299	168	94	shareholding	shareholding	NOUN
fbem-31299	168	95	ratio	ratio	NOUN
fbem-31299	168	96	.	.	PUNCT
fbem-31299	169	1	the	the	DET
fbem-31299	169	2	definitions	definition	NOUN
fbem-31299	169	3	of	of	ADP
fbem-31299	169	4	these	these	DET
fbem-31299	169	5	variables	variable	NOUN
fbem-31299	169	6	are	be	AUX
fbem-31299	169	7	based	base	VERB
fbem-31299	169	8	on	on	ADP
fbem-31299	169	9	prior	prior	ADJ
fbem-31299	169	10	research	research	NOUN
fbem-31299	169	11	by	by	ADP
fbem-31299	169	12	hu	hu	PROPN
fbem-31299	169	13	et	et	PROPN
fbem-31299	169	14	al	al	PROPN
fbem-31299	169	15	.	.	PUNCT
fbem-31299	170	1	[	[	X
fbem-31299	170	2	5	5	NUM
fbem-31299	170	3	]	]	PUNCT
fbem-31299	170	4	,	,	PUNCT
fbem-31299	170	5	xiao	xiao	PROPN
fbem-31299	170	6	et	et	PROPN
fbem-31299	170	7	al	al	PROPN
fbem-31299	170	8	.	.	PUNCT
fbem-31299	171	1	[	[	X
fbem-31299	171	2	3	3	NUM
fbem-31299	171	3	]	]	PUNCT
fbem-31299	171	4	,	,	PUNCT
fbem-31299	171	5	and	and	CCONJ
fbem-31299	171	6	luo	luo	PROPN
fbem-31299	171	7	et	et	PROPN
fbem-31299	171	8	al	al	PROPN
fbem-31299	171	9	.	.	PUNCT
fbem-31299	172	1	[	[	X
fbem-31299	172	2	14	14	NUM
fbem-31299	172	3	]	]	PUNCT
fbem-31299	172	4	,	,	PUNCT
fbem-31299	172	5	ensuring	ensure	VERB
fbem-31299	172	6	control	control	NOUN
fbem-31299	172	7	over	over	ADP
fbem-31299	172	8	potential	potential	ADJ
fbem-31299	172	9	influences	influence	NOUN
fbem-31299	172	10	from	from	ADP
fbem-31299	172	11	corporate	corporate	ADJ
fbem-31299	172	12	financial	financial	ADJ
fbem-31299	172	13	characteristics	characteristic	NOUN
fbem-31299	172	14	,	,	PUNCT
fbem-31299	172	15	governance	governance	NOUN
fbem-31299	172	16	structures	structure	NOUN
fbem-31299	172	17	,	,	PUNCT
fbem-31299	172	18	and	and	CCONJ
fbem-31299	172	19	market	market	NOUN
fbem-31299	172	20	performance	performance	NOUN
fbem-31299	172	21	on	on	ADP
fbem-31299	172	22	the	the	DET
fbem-31299	172	23	empirical	empirical	ADJ
fbem-31299	172	24	results	result	NOUN
fbem-31299	172	25	.	.	PUNCT
fbem-31299	173	1	table	table	NOUN
fbem-31299	173	2	1	1	NUM
fbem-31299	173	3	.	.	PUNCT
fbem-31299	173	4	variable	variable	ADJ
fbem-31299	173	5	symbols	symbol	NOUN
fbem-31299	173	6	and	and	CCONJ
fbem-31299	173	7	definitions	definition	VERB
fbem-31299	173	8	variable	variable	ADJ
fbem-31299	173	9	name	name	NOUN
fbem-31299	173	10	variable	variable	ADJ
fbem-31299	173	11	symbol	symbol	NOUN
fbem-31299	173	12	definition	definition	NOUN
fbem-31299	173	13	/	/	SYM
fbem-31299	173	14	measurement	measurement	NOUN
fbem-31299	173	15	enterprise	enterprise	NOUN
fbem-31299	173	16	resilience	resilience	NOUN
fbem-31299	173	17	res	re	NOUN
fbem-31299	173	18	measured	measure	VERB
fbem-31299	173	19	using	use	VERB
fbem-31299	173	20	entropy	entropy	NOUN
fbem-31299	173	21	weighting	weight	VERB
fbem-31299	173	22	method	method	NOUN
fbem-31299	173	23	combining	combine	VERB
fbem-31299	173	24	long	long	ADJ
fbem-31299	173	25	-	-	PUNCT
fbem-31299	173	26	term	term	NOUN
fbem-31299	173	27	performance	performance	NOUN
fbem-31299	173	28	growth	growth	NOUN
fbem-31299	173	29	and	and	CCONJ
fbem-31299	173	30	financial	financial	ADJ
fbem-31299	173	31	volatility	volatility	NOUN
fbem-31299	173	32	patient	patient	NOUN
fbem-31299	173	33	capital	capital	NOUN
fbem-31299	173	34	invest	invest	VERB
fbem-31299	173	35	proportion	proportion	NOUN
fbem-31299	173	36	of	of	ADP
fbem-31299	173	37	institutional	institutional	ADJ
fbem-31299	173	38	investor	investor	NOUN
fbem-31299	173	39	shareholding	shareholding	NOUN
fbem-31299	173	40	innovation	innovation	NOUN
fbem-31299	173	41	input	input	NOUN
fbem-31299	173	42	(	(	PUNCT
fbem-31299	173	43	performance	performance	NOUN
fbem-31299	173	44	)	)	PUNCT
fbem-31299	173	45	ie	ie	X
fbem-31299	173	46	ie	ie	X
fbem-31299	173	47	=	=	SYM
fbem-31299	173	48	ln	ln	NOUN
fbem-31299	174	1	[	[	X
fbem-31299	174	2	number	number	NOUN
fbem-31299	174	3	of	of	ADP
fbem-31299	174	4	patent	patent	NOUN
fbem-31299	174	5	applications÷(3	applications÷(3	NOUN
fbem-31299	174	6	-	-	PUNCT
fbem-31299	174	7	year	year	NOUN
fbem-31299	174	8	r&d	r&d	NOUN
fbem-31299	174	9	expenditure	expenditure	NOUN
fbem-31299	174	10	÷	÷	PUNCT
fbem-31299	174	11	total	total	ADJ
fbem-31299	174	12	assets	asset	NOUN
fbem-31299	174	13	at	at	ADP
fbem-31299	174	14	period	period	NOUN
fbem-31299	174	15	-	-	PUNCT
fbem-31299	174	16	end	end	NOUN
fbem-31299	174	17	)	)	PUNCT
fbem-31299	175	1	+	+	CCONJ
fbem-31299	175	2	1	1	X
fbem-31299	175	3	]	]	ADJ
fbem-31299	175	4	financing	financing	NOUN
fbem-31299	175	5	constraints	constraint	NOUN
fbem-31299	175	6	fc	fc	X
fbem-31299	175	7	whited	white	VERB
fbem-31299	175	8	-	-	PUNCT
fbem-31299	175	9	wu	wu	PROPN
fbem-31299	175	10	(	(	PUNCT
fbem-31299	175	11	ww	ww	PROPN
fbem-31299	175	12	)	)	PUNCT
fbem-31299	175	13	index	index	NOUN
fbem-31299	175	14	first	first	ADJ
fbem-31299	175	15	-	-	PUNCT
fbem-31299	175	16	tier	tier	NOUN
fbem-31299	175	17	agency	agency	NOUN
fbem-31299	175	18	costs	cost	VERB
fbem-31299	175	19	ac	ac	ADP
fbem-31299	175	20	management	management	NOUN
fbem-31299	175	21	expense	expense	NOUN
fbem-31299	175	22	ratio	ratio	NOUN
fbem-31299	175	23	(	(	PUNCT
fbem-31299	175	24	management	management	NOUN
fbem-31299	175	25	expenses	expense	VERB
fbem-31299	175	26	÷	÷	NUM
fbem-31299	175	27	operating	operate	VERB
fbem-31299	175	28	revenue	revenue	NOUN
fbem-31299	175	29	)	)	PUNCT
fbem-31299	175	30	current	current	ADJ
fbem-31299	175	31	ratio	ratio	NOUN
fbem-31299	175	32	current	current	ADJ
fbem-31299	175	33	current	current	ADJ
fbem-31299	175	34	assets	asset	NOUN
fbem-31299	175	35	÷	÷	PUNCT
fbem-31299	175	36	current	current	ADJ
fbem-31299	175	37	liabilities	liability	NOUN
fbem-31299	175	38	asset	asset	NOUN
fbem-31299	175	39	-	-	PUNCT
fbem-31299	175	40	liability	liability	NOUN
fbem-31299	175	41	ratio	ratio	NOUN
fbem-31299	175	42	lev	lev	NOUN
fbem-31299	175	43	total	total	ADJ
fbem-31299	175	44	liabilities	liability	NOUN
fbem-31299	175	45	÷	÷	PUNCT
fbem-31299	175	46	total	total	ADJ
fbem-31299	175	47	assets	asset	NOUN
fbem-31299	175	48	at	at	ADP
fbem-31299	175	49	period	period	NOUN
fbem-31299	175	50	-	-	PUNCT
fbem-31299	175	51	end	end	NOUN
fbem-31299	175	52	firm	firm	NOUN
fbem-31299	175	53	nature	nature	PROPN
fbem-31299	175	54	soe	soe	PROPN
fbem-31299	175	55	state	state	NOUN
fbem-31299	175	56	-	-	PUNCT
fbem-31299	175	57	owned	own	VERB
fbem-31299	175	58	enterprise	enterprise	NOUN
fbem-31299	175	59	=	=	SYM
fbem-31299	175	60	1	1	NUM
fbem-31299	175	61	,	,	PUNCT
fbem-31299	175	62	non	non	ADJ
fbem-31299	175	63	-	-	ADJ
fbem-31299	175	64	soe	soe	ADJ
fbem-31299	175	65	=	=	SYM
fbem-31299	175	66	0	0	NUM
fbem-31299	175	67	board	board	NOUN
fbem-31299	175	68	size	size	NOUN
fbem-31299	175	69	board	board	PROPN
fbem-31299	175	70	natural	natural	ADJ
fbem-31299	175	71	logarithm	logarithm	NOUN
fbem-31299	175	72	of	of	ADP
fbem-31299	175	73	the	the	DET
fbem-31299	175	74	number	number	NOUN
fbem-31299	175	75	of	of	ADP
fbem-31299	175	76	board	board	NOUN
fbem-31299	175	77	members	member	NOUN
fbem-31299	175	78	proportion	proportion	NOUN
fbem-31299	175	79	of	of	ADP
fbem-31299	175	80	independent	independent	ADJ
fbem-31299	175	81	directors	director	NOUN
fbem-31299	175	82	indep	indep	NOUN
fbem-31299	175	83	percentage	percentage	NOUN
fbem-31299	175	84	of	of	ADP
fbem-31299	175	85	independent	independent	ADJ
fbem-31299	175	86	directors	director	NOUN
fbem-31299	175	87	on	on	ADP
fbem-31299	175	88	the	the	DET
fbem-31299	175	89	board	board	NOUN
fbem-31299	175	90	ceo	ceo	PROPN
fbem-31299	175	91	duality	duality	NOUN
fbem-31299	175	92	dual	dual	ADJ
fbem-31299	175	93	chairman	chairman	NOUN
fbem-31299	175	94	concurrently	concurrently	ADV
fbem-31299	175	95	serving	serve	VERB
fbem-31299	175	96	as	as	ADP
fbem-31299	175	97	ceo	ceo	NOUN
fbem-31299	175	98	=	=	NOUN
fbem-31299	175	99	1	1	NUM
fbem-31299	175	100	,	,	PUNCT
fbem-31299	175	101	otherwise	otherwise	ADV
fbem-31299	175	102	=	=	SYM
fbem-31299	175	103	0	0	NUM
fbem-31299	175	104	operating	operating	NOUN
fbem-31299	175	105	revenue	revenue	NOUN
fbem-31299	175	106	growth	growth	NOUN
fbem-31299	175	107	rate	rate	NOUN
fbem-31299	175	108	growth	growth	NOUN
fbem-31299	175	109	(	(	PUNCT
fbem-31299	175	110	current	current	ADJ
fbem-31299	175	111	year	year	NOUN
fbem-31299	175	112	revenue	revenue	NOUN
fbem-31299	175	113	increase	increase	NOUN
fbem-31299	175	114	÷	÷	PUNCT
fbem-31299	175	115	previous	previous	ADJ
fbem-31299	175	116	year	year	NOUN
fbem-31299	175	117	total	total	NOUN
fbem-31299	175	118	revenue	revenue	NOUN
fbem-31299	175	119	)	)	PUNCT
fbem-31299	175	120	×	×	NOUN
fbem-31299	175	121	100	100	NUM
fbem-31299	175	122	%	%	NOUN
fbem-31299	175	123	return	return	NOUN
fbem-31299	175	124	on	on	ADP
fbem-31299	175	125	assets	asset	NOUN
fbem-31299	175	126	(	(	PUNCT
fbem-31299	175	127	roa	roa	NOUN
fbem-31299	175	128	)	)	PUNCT
fbem-31299	175	129	roa	roa	PROPN
fbem-31299	175	130	net	net	ADJ
fbem-31299	175	131	profit	profit	PROPN
fbem-31299	175	132	÷	÷	PUNCT
fbem-31299	175	133	average	average	ADJ
fbem-31299	175	134	total	total	ADJ
fbem-31299	175	135	assets	asset	NOUN
fbem-31299	175	136	tobin	tobin	NOUN
fbem-31299	175	137	’s	’s	PART
fbem-31299	175	138	q	q	NOUN
fbem-31299	175	139	tobin'q	tobin'q	ADJ
fbem-31299	175	140	market	market	NOUN
fbem-31299	175	141	value	value	NOUN
fbem-31299	175	142	÷	÷	PUNCT
fbem-31299	175	143	total	total	ADJ
fbem-31299	175	144	assets	asset	NOUN
fbem-31299	175	145	herfindahl-10	herfindahl-10	PROPN
fbem-31299	175	146	index	index	NOUN
fbem-31299	175	147	herfindahl10	herfindahl10	NOUN
fbem-31299	175	148	sum	sum	NOUN
fbem-31299	175	149	of	of	ADP
fbem-31299	175	150	squared	square	VERB
fbem-31299	175	151	shareholding	shareholding	NOUN
fbem-31299	175	152	ratios	ratio	NOUN
fbem-31299	175	153	of	of	ADP
fbem-31299	175	154	the	the	DET
fbem-31299	175	155	top	top	ADJ
fbem-31299	175	156	10	10	NUM
fbem-31299	175	157	major	major	ADJ
fbem-31299	175	158	shareholders	shareholder	NOUN
fbem-31299	175	159	listing	list	VERB
fbem-31299	175	160	age	age	NOUN
fbem-31299	175	161	listage	listage	NOUN
fbem-31299	175	162	ln	ln	NOUN
fbem-31299	175	163	(	(	PUNCT
fbem-31299	175	164	current	current	ADJ
fbem-31299	175	165	year	year	NOUN
fbem-31299	175	166	listing	list	VERB
fbem-31299	175	167	year	year	NOUN
fbem-31299	175	168	+	+	CCONJ
fbem-31299	175	169	1	1	X
fbem-31299	175	170	)	)	PUNCT
fbem-31299	175	171	book	book	NOUN
fbem-31299	175	172	-	-	PUNCT
fbem-31299	175	173	to	to	ADP
fbem-31299	175	174	-	-	PUNCT
fbem-31299	175	175	market	market	NOUN
fbem-31299	175	176	ratio	ratio	NOUN
fbem-31299	175	177	bm	bm	PROPN
fbem-31299	175	178	book	book	PROPN
fbem-31299	175	179	value	value	PROPN
fbem-31299	175	180	÷	÷	NUM
fbem-31299	175	181	market	market	NOUN
fbem-31299	175	182	value	value	NOUN
fbem-31299	175	183	debt	debt	NOUN
fbem-31299	175	184	-	-	PUNCT
fbem-31299	175	185	to	to	ADP
fbem-31299	175	186	-	-	PUNCT
fbem-31299	175	187	equity	equity	NOUN
fbem-31299	175	188	ratio	ratio	NOUN
fbem-31299	175	189	der	der	NOUN
fbem-31299	175	190	total	total	ADJ
fbem-31299	175	191	liabilities	liability	NOUN
fbem-31299	175	192	÷	÷	PUNCT
fbem-31299	175	193	owners	owners	PROPN
fbem-31299	175	194	’	'	PUNCT
fbem-31299	175	195	equity	equity	NOUN
fbem-31299	175	196	at	at	ADP
fbem-31299	175	197	year	year	NOUN
fbem-31299	175	198	-	-	PUNCT
fbem-31299	175	199	end	end	NOUN
fbem-31299	175	200	management	management	NOUN
fbem-31299	175	201	shareholding	shareholding	NOUN
fbem-31299	175	202	ratio	ratio	NOUN
fbem-31299	175	203	mshare	mshare	ADJ
fbem-31299	175	204	number	number	NOUN
fbem-31299	175	205	of	of	ADP
fbem-31299	175	206	shares	share	NOUN
fbem-31299	175	207	held	hold	VERB
fbem-31299	175	208	by	by	ADP
fbem-31299	175	209	directors	director	NOUN
fbem-31299	175	210	,	,	PUNCT
fbem-31299	175	211	supervisors	supervisor	NOUN
fbem-31299	175	212	,	,	PUNCT
fbem-31299	175	213	and	and	CCONJ
fbem-31299	175	214	executives	executive	NOUN
fbem-31299	175	215	÷	÷	SYM
fbem-31299	175	216	total	total	ADJ
fbem-31299	175	217	shares	share	NOUN
fbem-31299	175	218	4	4	NUM
fbem-31299	175	219	.	.	PUNCT
fbem-31299	175	220	empirical	empirical	ADJ
fbem-31299	175	221	research	research	NOUN
fbem-31299	175	222	4.1	4.1	NUM
fbem-31299	175	223	.	.	PUNCT
fbem-31299	176	1	descriptive	descriptive	ADJ
fbem-31299	176	2	statistics	statistic	NOUN
fbem-31299	176	3	table	table	NOUN
fbem-31299	176	4	2	2	NUM
fbem-31299	176	5	.	.	PUNCT
fbem-31299	176	6	descriptive	descriptive	ADJ
fbem-31299	176	7	statistics	statistic	NOUN
fbem-31299	176	8	of	of	ADP
fbem-31299	176	9	main	main	ADJ
fbem-31299	176	10	variables	variable	NOUN
fbem-31299	176	11	varname	varname	NOUN
fbem-31299	176	12	obs	obs	PROPN
fbem-31299	176	13	mean	mean	VERB
fbem-31299	176	14	sd	sd	ADP
fbem-31299	176	15	min	min	PROPN
fbem-31299	176	16	max	max	PROPN
fbem-31299	176	17	res	re	NOUN
fbem-31299	176	18	9928	9928	NUM
fbem-31299	176	19	0.305	0.305	NUM
fbem-31299	176	20	0.022	0.022	NUM
fbem-31299	176	21	0.083	0.083	NUM
fbem-31299	176	22	0.981	0.981	NUM
fbem-31299	176	23	invest	invest	VERB
fbem-31299	176	24	9928	9928	NUM
fbem-31299	176	25	0.446	0.446	NUM
fbem-31299	176	26	0.231	0.231	NUM
fbem-31299	176	27	0.000	0.000	NUM
fbem-31299	176	28	0.989	0.989	NUM
fbem-31299	176	29	ie	ie	X
fbem-31299	176	30	9928	9928	NUM
fbem-31299	176	31	3.481	3.481	NUM
fbem-31299	176	32	1.632	1.632	NUM
fbem-31299	176	33	-1.119	-1.119	NUM
fbem-31299	176	34	9.338	9.338	NUM
fbem-31299	176	35	fc	fc	NOUN
fbem-31299	176	36	9928	9928	NUM
fbem-31299	176	37	-1.039	-1.039	NUM
fbem-31299	176	38	0.173	0.173	NUM
fbem-31299	176	39	-16.067	-16.067	X
fbem-31299	176	40	-0.574	-0.574	NOUN
fbem-31299	176	41	ac	ac	ADV
fbem-31299	176	42	9928	9928	NUM
fbem-31299	176	43	0.075	0.075	NUM
fbem-31299	176	44	0.106	0.106	NUM
fbem-31299	176	45	0.003	0.003	NUM
fbem-31299	176	46	7.284	7.284	NUM
fbem-31299	176	47	current	current	ADJ
fbem-31299	176	48	9928	9928	NUM
fbem-31299	176	49	1.769	1.769	NUM
fbem-31299	176	50	1.894	1.894	NUM
fbem-31299	176	51	0.032	0.032	NUM
fbem-31299	176	52	104.667	104.667	NUM
fbem-31299	176	53	lev	lev	NOUN
fbem-31299	176	54	9928	9928	NUM
fbem-31299	176	55	0.474	0.474	NUM
fbem-31299	176	56	0.175	0.175	NUM
fbem-31299	176	57	0.008	0.008	NUM
fbem-31299	176	58	1.957	1.957	NUM
fbem-31299	176	59	roa	roa	NOUN
fbem-31299	176	60	9928	9928	NUM
fbem-31299	176	61	0.033	0.033	NUM
fbem-31299	176	62	0.072	0.072	NUM
fbem-31299	176	63	-1.146	-1.146	PUNCT
fbem-31299	176	64	1.285	1.285	NUM
fbem-31299	176	65	growth	growth	NOUN
fbem-31299	176	66	9928	9928	NUM
fbem-31299	176	67	0.231	0.231	NUM
fbem-31299	176	68	4.529	4.529	NUM
fbem-31299	176	69	-0.982	-0.982	SYM
fbem-31299	176	70	429.036	429.036	NUM
fbem-31299	176	71	tobinq	tobinq	NOUN
fbem-31299	176	72	9928	9928	NUM
fbem-31299	176	73	1.927	1.927	NUM
fbem-31299	176	74	1.606	1.606	NUM
fbem-31299	176	75	0.662	0.662	NUM
fbem-31299	176	76	92.299	92.299	NUM
fbem-31299	176	77	bm	bm	X
fbem-31299	176	78	9928	9928	NUM
fbem-31299	176	79	1158.012	1158.012	NUM
fbem-31299	176	80	1108.057	1108.057	NUM
fbem-31299	176	81	10.919	10.919	NUM
fbem-31299	176	82	16931.666	16931.666	NUM
fbem-31299	176	83	der	der	NOUN
fbem-31299	176	84	9928	9928	NUM
fbem-31299	176	85	1.271	1.271	NUM
fbem-31299	176	86	5.458	5.458	NUM
fbem-31299	176	87	-236.323	-236.323	NUM
fbem-31299	176	88	205.890	205.890	NUM
fbem-31299	176	89	listage	listage	NOUN
fbem-31299	176	90	9928	9928	NUM
fbem-31299	176	91	2.492	2.492	NUM
fbem-31299	176	92	0.587	0.587	NUM
fbem-31299	176	93	1.099	1.099	NUM
fbem-31299	176	94	3.526	3.526	NUM
fbem-31299	176	95	soe	soe	PROPN
fbem-31299	176	96	9928	9928	NUM
fbem-31299	176	97	0.365	0.365	NUM
fbem-31299	176	98	0.481	0.481	NUM
fbem-31299	176	99	0.000	0.000	NUM
fbem-31299	176	100	1.000	1.000	NUM
fbem-31299	176	101	board	board	NOUN
fbem-31299	176	102	9928	9928	NUM
fbem-31299	176	103	2.302	2.302	NUM
fbem-31299	176	104	0.249	0.249	NUM
fbem-31299	176	105	1.386	1.386	NUM
fbem-31299	176	106	3.367	3.367	NUM
fbem-31299	176	107	indep	indep	NOUN
fbem-31299	176	108	9928	9928	NUM
fbem-31299	176	109	0.383	0.383	NUM
fbem-31299	176	110	0.076	0.076	NUM
fbem-31299	176	111	0.188	0.188	NUM
fbem-31299	176	112	0.800	0.800	NUM
fbem-31299	176	113	dual	dual	ADJ
fbem-31299	176	114	9928	9928	NUM
fbem-31299	176	115	0.260	0.260	NUM
fbem-31299	176	116	0.438	0.438	NUM
fbem-31299	176	117	0.000	0.000	NUM
fbem-31299	176	118	1.000	1.000	NUM
fbem-31299	176	119	herfindahl10	herfindahl10	NOUN
fbem-31299	176	120	9928	9928	NUM
fbem-31299	176	121	0.144	0.144	NUM
fbem-31299	176	122	0.106	0.106	NUM
fbem-31299	176	123	0.002	0.002	NUM
fbem-31299	176	124	0.810	0.810	NUM
fbem-31299	176	125	mshare	mshare	ADJ
fbem-31299	176	126	9928	9928	NUM
fbem-31299	176	127	0.118	0.118	NUM
fbem-31299	176	128	0.455	0.455	NUM
fbem-31299	176	129	0.000	0.000	NUM
fbem-31299	176	130	16.929	16.929	NUM
fbem-31299	176	131	table	table	NOUN
fbem-31299	176	132	3	3	NUM
fbem-31299	176	133	presents	present	VERB
fbem-31299	176	134	the	the	DET
fbem-31299	176	135	descriptive	descriptive	ADJ
fbem-31299	176	136	statistics	statistic	NOUN
fbem-31299	176	137	of	of	ADP
fbem-31299	176	138	the	the	DET
fbem-31299	176	139	main	main	ADJ
fbem-31299	176	140	variables	variable	NOUN
fbem-31299	176	141	.	.	PUNCT
fbem-31299	177	1	the	the	DET
fbem-31299	177	2	mean	mean	ADJ
fbem-31299	177	3	value	value	NOUN
fbem-31299	177	4	of	of	ADP
fbem-31299	177	5	enterprise	enterprise	NOUN
fbem-31299	177	6	resilience	resilience	NOUN
fbem-31299	177	7	(	(	PUNCT
fbem-31299	177	8	res	re	NOUN
fbem-31299	177	9	)	)	PUNCT
fbem-31299	177	10	is	be	AUX
fbem-31299	177	11	0.305	0.305	NUM
fbem-31299	177	12	,	,	PUNCT
fbem-31299	177	13	with	with	ADP
fbem-31299	177	14	a	a	DET
fbem-31299	177	15	standard	standard	ADJ
fbem-31299	177	16	deviation	deviation	NOUN
fbem-31299	177	17	of	of	ADP
fbem-31299	177	18	0.022	0.022	NUM
fbem-31299	177	19	,	,	PUNCT
fbem-31299	177	20	and	and	CCONJ
fbem-31299	177	21	the	the	DET
fbem-31299	177	22	minimum	minimum	ADJ
fbem-31299	177	23	and	and	CCONJ
fbem-31299	177	24	maximum	maximum	ADJ
fbem-31299	177	25	values	value	NOUN
fbem-31299	177	26	are	be	AUX
fbem-31299	177	27	0.083	0.083	NUM
fbem-31299	177	28	and	and	CCONJ
fbem-31299	177	29	0.981	0.981	NUM
fbem-31299	177	30	,	,	PUNCT
fbem-31299	177	31	respectively	respectively	ADV
fbem-31299	177	32	.	.	PUNCT
fbem-31299	178	1	this	this	PRON
fbem-31299	178	2	indicates	indicate	VERB
fbem-31299	178	3	significant	significant	ADJ
fbem-31299	178	4	variation	variation	NOUN
fbem-31299	178	5	in	in	ADP
fbem-31299	178	6	resilience	resilience	NOUN
fbem-31299	178	7	levels	level	NOUN
fbem-31299	178	8	across	across	ADP
fbem-31299	178	9	the	the	DET
fbem-31299	178	10	sample	sample	NOUN
fbem-31299	178	11	firms	firm	NOUN
fbem-31299	178	12	,	,	PUNCT
fbem-31299	178	13	providing	provide	VERB
fbem-31299	178	14	a	a	DET
fbem-31299	178	15	robust	robust	ADJ
fbem-31299	178	16	basis	basis	NOUN
fbem-31299	178	17	for	for	ADP
fbem-31299	178	18	subsequent	subsequent	ADJ
fbem-31299	178	19	analysis	analysis	NOUN
fbem-31299	178	20	.	.	PUNCT
fbem-31299	179	1	the	the	DET
fbem-31299	179	2	mean	mean	ADJ
fbem-31299	179	3	value	value	NOUN
fbem-31299	179	4	of	of	ADP
fbem-31299	179	5	patient	patient	ADJ
fbem-31299	179	6	capital	capital	NOUN
fbem-31299	179	7	(	(	PUNCT
fbem-31299	179	8	invest	invest	VERB
fbem-31299	179	9	)	)	PUNCT
fbem-31299	179	10	is	be	AUX
fbem-31299	179	11	0.446	0.446	NUM
fbem-31299	179	12	,	,	PUNCT
fbem-31299	179	13	with	with	ADP
fbem-31299	179	14	a	a	DET
fbem-31299	179	15	standard	standard	ADJ
fbem-31299	179	16	deviation	deviation	NOUN
fbem-31299	179	17	of	of	ADP
fbem-31299	179	18	0.231	0.231	NUM
fbem-31299	179	19	,	,	PUNCT
fbem-31299	179	20	and	and	CCONJ
fbem-31299	179	21	its	its	PRON
fbem-31299	179	22	distribution	distribution	NOUN
fbem-31299	179	23	ranges	range	VERB
fbem-31299	179	24	widely	widely	ADV
fbem-31299	179	25	(	(	PUNCT
fbem-31299	179	26	0–0.989	0–0.989	NUM
fbem-31299	179	27	)	)	PUNCT
fbem-31299	179	28	,	,	PUNCT
fbem-31299	179	29	reflecting	reflect	VERB
fbem-31299	179	30	differences	difference	NOUN
fbem-31299	179	31	among	among	ADP
fbem-31299	179	32	firms	firm	NOUN
fbem-31299	179	33	in	in	ADP
fbem-31299	179	34	attracting	attract	VERB
fbem-31299	179	35	long	long	ADJ
fbem-31299	179	36	-	-	PUNCT
fbem-31299	179	37	term	term	NOUN
fbem-31299	179	38	capital	capital	NOUN
fbem-31299	179	39	.	.	PUNCT
fbem-31299	180	1	the	the	DET
fbem-31299	180	2	mean	mean	ADJ
fbem-31299	180	3	values	value	NOUN
fbem-31299	180	4	of	of	ADP
fbem-31299	180	5	innovation	innovation	NOUN
fbem-31299	180	6	efficiency	efficiency	NOUN
fbem-31299	180	7	(	(	PUNCT
fbem-31299	180	8	ie	ie	X
fbem-31299	180	9	)	)	PUNCT
fbem-31299	180	10	and	and	CCONJ
fbem-31299	180	11	financing	financing	NOUN
fbem-31299	180	12	constraints	constraint	NOUN
fbem-31299	180	13	(	(	PUNCT
fbem-31299	180	14	fc	fc	X
fbem-31299	180	15	)	)	PUNCT
fbem-31299	180	16	are	be	AUX
fbem-31299	180	17	3.481	3.481	NUM
fbem-31299	180	18	and	and	CCONJ
fbem-31299	180	19	-1.039	-1.039	NUM
fbem-31299	180	20	,	,	PUNCT
fbem-31299	180	21	respectively	respectively	ADV
fbem-31299	180	22	,	,	PUNCT
fbem-31299	180	23	with	with	ADP
fbem-31299	180	24	relatively	relatively	ADV
fbem-31299	180	25	high	high	ADJ
fbem-31299	180	26	standard	standard	ADJ
fbem-31299	180	27	deviations	deviation	NOUN
fbem-31299	180	28	,	,	PUNCT
fbem-31299	180	29	110	110	NUM
fbem-31299	180	30	suggesting	suggest	VERB
fbem-31299	180	31	notable	notable	ADJ
fbem-31299	180	32	divergence	divergence	NOUN
fbem-31299	180	33	in	in	ADP
fbem-31299	180	34	firms	firm	NOUN
fbem-31299	180	35	'	'	PART
fbem-31299	180	36	innovation	innovation	NOUN
fbem-31299	180	37	inputs	input	NOUN
fbem-31299	180	38	and	and	CCONJ
fbem-31299	180	39	financing	financing	NOUN
fbem-31299	180	40	capabilities	capability	NOUN
fbem-31299	180	41	.	.	PUNCT
fbem-31299	181	1	the	the	DET
fbem-31299	181	2	statistical	statistical	ADJ
fbem-31299	181	3	characteristics	characteristic	NOUN
fbem-31299	181	4	of	of	ADP
fbem-31299	181	5	control	control	NOUN
fbem-31299	181	6	variables	variable	NOUN
fbem-31299	181	7	,	,	PUNCT
fbem-31299	181	8	such	such	ADJ
fbem-31299	181	9	as	as	ADP
fbem-31299	181	10	the	the	DET
fbem-31299	181	11	asset	asset	NOUN
fbem-31299	181	12	-	-	PUNCT
fbem-31299	181	13	liability	liability	NOUN
fbem-31299	181	14	ratio	ratio	NOUN
fbem-31299	181	15	(	(	PUNCT
fbem-31299	181	16	lev	lev	NOUN
fbem-31299	181	17	)	)	PUNCT
fbem-31299	181	18	and	and	CCONJ
fbem-31299	181	19	return	return	VERB
fbem-31299	181	20	on	on	ADP
fbem-31299	181	21	assets	asset	NOUN
fbem-31299	181	22	(	(	PUNCT
fbem-31299	181	23	roa	roa	NOUN
fbem-31299	181	24	)	)	PUNCT
fbem-31299	181	25	,	,	PUNCT
fbem-31299	181	26	also	also	ADV
fbem-31299	181	27	align	align	VERB
fbem-31299	181	28	with	with	ADP
fbem-31299	181	29	expectations	expectation	NOUN
fbem-31299	181	30	,	,	PUNCT
fbem-31299	181	31	offering	offer	VERB
fbem-31299	181	32	reliable	reliable	ADJ
fbem-31299	181	33	data	datum	NOUN
fbem-31299	181	34	support	support	NOUN
fbem-31299	181	35	for	for	ADP
fbem-31299	181	36	model	model	NOUN
fbem-31299	181	37	construction	construction	NOUN
fbem-31299	181	38	.	.	PUNCT
fbem-31299	182	1	4.2	4.2	NUM
fbem-31299	182	2	.	.	PUNCT
fbem-31299	183	1	correlation	correlation	NOUN
fbem-31299	183	2	analysis	analysis	NOUN
fbem-31299	183	3	the	the	DET
fbem-31299	183	4	results	result	NOUN
fbem-31299	183	5	of	of	ADP
fbem-31299	183	6	the	the	DET
fbem-31299	183	7	correlation	correlation	NOUN
fbem-31299	183	8	analysis	analysis	NOUN
fbem-31299	183	9	show	show	VERB
fbem-31299	183	10	that	that	SCONJ
fbem-31299	183	11	enterprise	enterprise	NOUN
fbem-31299	183	12	resilience	resilience	NOUN
fbem-31299	183	13	(	(	PUNCT
fbem-31299	183	14	res	re	NOUN
fbem-31299	183	15	)	)	PUNCT
fbem-31299	183	16	is	be	AUX
fbem-31299	183	17	significantly	significantly	ADV
fbem-31299	183	18	positively	positively	ADV
fbem-31299	183	19	correlated	correlate	VERB
fbem-31299	183	20	with	with	ADP
fbem-31299	183	21	patient	patient	ADJ
fbem-31299	183	22	capital	capital	NOUN
fbem-31299	183	23	(	(	PUNCT
fbem-31299	183	24	invest	invest	VERB
fbem-31299	183	25	)	)	PUNCT
fbem-31299	183	26	(	(	PUNCT
fbem-31299	183	27	correlation	correlation	NOUN
fbem-31299	183	28	coefficient	coefficient	NOUN
fbem-31299	183	29	=	=	PROPN
fbem-31299	183	30	0.174	0.174	NUM
fbem-31299	183	31	)	)	PUNCT
fbem-31299	183	32	,	,	PUNCT
fbem-31299	183	33	exhibits	exhibit	VERB
fbem-31299	183	34	a	a	DET
fbem-31299	183	35	stronger	strong	ADJ
fbem-31299	183	36	positive	positive	ADJ
fbem-31299	183	37	correlation	correlation	NOUN
fbem-31299	183	38	with	with	ADP
fbem-31299	183	39	innovation	innovation	NOUN
fbem-31299	183	40	efficiency	efficiency	NOUN
fbem-31299	183	41	(	(	PUNCT
fbem-31299	183	42	ie	ie	X
fbem-31299	183	43	)	)	PUNCT
fbem-31299	183	44	(	(	PUNCT
fbem-31299	183	45	0.248	0.248	NUM
fbem-31299	183	46	)	)	PUNCT
fbem-31299	183	47	,	,	PUNCT
fbem-31299	183	48	and	and	CCONJ
fbem-31299	183	49	is	be	AUX
fbem-31299	183	50	significantly	significantly	ADV
fbem-31299	183	51	negatively	negatively	ADV
fbem-31299	183	52	correlated	correlate	VERB
fbem-31299	183	53	with	with	ADP
fbem-31299	183	54	financing	financing	NOUN
fbem-31299	183	55	constraints	constraint	NOUN
fbem-31299	183	56	(	(	PUNCT
fbem-31299	183	57	fc	fc	INTJ
fbem-31299	183	58	)	)	PUNCT
fbem-31299	183	59	(	(	PUNCT
fbem-31299	183	60	-0.171	-0.171	NOUN
fbem-31299	183	61	)	)	PUNCT
fbem-31299	183	62	.	.	PUNCT
fbem-31299	184	1	these	these	DET
fbem-31299	184	2	findings	finding	NOUN
fbem-31299	184	3	preliminarily	preliminarily	ADV
fbem-31299	184	4	validate	validate	VERB
fbem-31299	184	5	the	the	DET
fbem-31299	184	6	research	research	NOUN
fbem-31299	184	7	hypotheses	hypothesis	NOUN
fbem-31299	184	8	,	,	PUNCT
fbem-31299	184	9	suggesting	suggest	VERB
fbem-31299	184	10	that	that	SCONJ
fbem-31299	184	11	patient	patient	ADJ
fbem-31299	184	12	capital	capital	NOUN
fbem-31299	184	13	may	may	AUX
fbem-31299	184	14	enhance	enhance	VERB
fbem-31299	184	15	enterprise	enterprise	NOUN
fbem-31299	184	16	resilience	resilience	NOUN
fbem-31299	184	17	by	by	ADP
fbem-31299	184	18	improving	improve	VERB
fbem-31299	184	19	innovation	innovation	NOUN
fbem-31299	184	20	efficiency	efficiency	NOUN
fbem-31299	184	21	and	and	CCONJ
fbem-31299	184	22	alleviating	alleviate	VERB
fbem-31299	184	23	financing	financing	NOUN
fbem-31299	184	24	constraints	constraint	NOUN
fbem-31299	184	25	.	.	PUNCT
fbem-31299	185	1	furthermore	furthermore	ADV
fbem-31299	185	2	,	,	PUNCT
fbem-31299	185	3	the	the	DET
fbem-31299	185	4	variance	variance	NOUN
fbem-31299	185	5	inflation	inflation	NOUN
fbem-31299	185	6	factor	factor	NOUN
fbem-31299	185	7	(	(	PUNCT
fbem-31299	185	8	vif	vif	PROPN
fbem-31299	185	9	)	)	PUNCT
fbem-31299	185	10	for	for	ADP
fbem-31299	185	11	all	all	DET
fbem-31299	185	12	variables	variable	NOUN
fbem-31299	185	13	is	be	AUX
fbem-31299	185	14	below	below	ADP
fbem-31299	185	15	2	2	NUM
fbem-31299	185	16	,	,	PUNCT
fbem-31299	185	17	indicating	indicate	VERB
fbem-31299	185	18	no	no	DET
fbem-31299	185	19	severe	severe	ADJ
fbem-31299	185	20	multicollinearity	multicollinearity	NOUN
fbem-31299	185	21	issues	issue	NOUN
fbem-31299	185	22	in	in	ADP
fbem-31299	185	23	the	the	DET
fbem-31299	185	24	model	model	NOUN
fbem-31299	185	25	,	,	PUNCT
fbem-31299	185	26	thereby	thereby	ADV
fbem-31299	185	27	ensuring	ensure	VERB
fbem-31299	185	28	the	the	DET
fbem-31299	185	29	reliability	reliability	NOUN
fbem-31299	185	30	of	of	ADP
fbem-31299	185	31	the	the	DET
fbem-31299	185	32	regression	regression	NOUN
fbem-31299	185	33	results	result	NOUN
fbem-31299	185	34	.	.	PUNCT
fbem-31299	186	1	table	table	NOUN
fbem-31299	186	2	3	3	NUM
fbem-31299	186	3	.	.	PUNCT
fbem-31299	186	4	correlation	correlation	NOUN
fbem-31299	186	5	of	of	ADP
fbem-31299	186	6	key	key	ADJ
fbem-31299	186	7	variables	variable	NOUN
fbem-31299	186	8	res	re	NOUN
fbem-31299	186	9	invest	invest	VERB
fbem-31299	186	10	ie	ie	X
fbem-31299	186	11	fc	fc	PROPN
fbem-31299	186	12	res	re	VERB
fbem-31299	186	13	1	1	NUM
fbem-31299	186	14	invest	invest	VERB
fbem-31299	186	15	0.174	0.174	NUM
fbem-31299	186	16	*	*	PUNCT
fbem-31299	186	17	*	*	PUNCT
fbem-31299	186	18	*	*	PUNCT
fbem-31299	186	19	1	1	NUM
fbem-31299	186	20	ie	ie	ADV
fbem-31299	186	21	0.248	0.248	NUM
fbem-31299	186	22	*	*	PUNCT
fbem-31299	186	23	*	*	PUNCT
fbem-31299	187	1	*	*	PUNCT
fbem-31299	188	1	0.191	0.191	NUM
fbem-31299	188	2	*	*	PUNCT
fbem-31299	188	3	*	*	PUNCT
fbem-31299	188	4	*	*	SYM
fbem-31299	188	5	1	1	NUM
fbem-31299	188	6	fc	fc	INTJ
fbem-31299	188	7	-0.171	-0.171	NOUN
fbem-31299	188	8	*	*	NOUN
fbem-31299	188	9	*	*	PUNCT
fbem-31299	188	10	*	*	PUNCT
fbem-31299	188	11	-0.164	-0.164	NOUN
fbem-31299	188	12	*	*	PUNCT
fbem-31299	188	13	*	*	PUNCT
fbem-31299	188	14	*	*	PUNCT
fbem-31299	188	15	-0.219	-0.219	PROPN
fbem-31299	188	16	*	*	PUNCT
fbem-31299	188	17	*	*	PUNCT
fbem-31299	188	18	*	*	SYM
fbem-31299	188	19	1	1	NUM
fbem-31299	188	20	t	t	NOUN
fbem-31299	188	21	statistics	statistic	NOUN
fbem-31299	188	22	in	in	ADP
fbem-31299	188	23	parentheses	parenthesis	NOUN
fbem-31299	188	24	*	*	PUNCT
fbem-31299	188	25	p	p	X
fbem-31299	188	26	<	<	X
fbem-31299	188	27	0.1	0.1	NUM
fbem-31299	188	28	,	,	PUNCT
fbem-31299	188	29	*	*	PUNCT
fbem-31299	188	30	*	*	PUNCT
fbem-31299	188	31	p	p	X
fbem-31299	188	32	<	<	X
fbem-31299	188	33	0.05	0.05	NUM
fbem-31299	188	34	,	,	PUNCT
fbem-31299	188	35	*	*	PUNCT
fbem-31299	188	36	*	*	PUNCT
fbem-31299	188	37	*	*	PUNCT
fbem-31299	188	38	p	p	X
fbem-31299	188	39	<	<	X
fbem-31299	188	40	0.01	0.01	NUM
fbem-31299	188	41	table	table	NOUN
fbem-31299	188	42	4	4	NUM
fbem-31299	188	43	.	.	PUNCT
fbem-31299	188	44	multicollinearity	multicollinearity	NOUN
fbem-31299	188	45	test	test	NOUN
fbem-31299	188	46	variable	variable	NOUN
fbem-31299	188	47	vif	vif	NOUN
fbem-31299	188	48	1	1	NUM
fbem-31299	188	49	/	/	SYM
fbem-31299	188	50	vif	vif	NOUN
fbem-31299	188	51	invest	invest	VERB
fbem-31299	188	52	1.810	1.810	NUM
fbem-31299	188	53	0.553	0.553	NUM
fbem-31299	188	54	lev	lev	NOUN
fbem-31299	188	55	1.800	1.800	NUM
fbem-31299	188	56	0.557	0.557	NUM
fbem-31299	188	57	herfindahl10	herfindahl10	NOUN
fbem-31299	188	58	1.610	1.610	NUM
fbem-31299	188	59	0.621	0.621	NUM
fbem-31299	188	60	soe	soe	PROPN
fbem-31299	188	61	1.530	1.530	NUM
fbem-31299	188	62	0.655	0.655	NUM
fbem-31299	188	63	bm	bm	PROPN
fbem-31299	188	64	1.510	1.510	NUM
fbem-31299	188	65	0.661	0.661	NUM
fbem-31299	188	66	listage	listage	NOUN
fbem-31299	188	67	1.480	1.480	NUM
fbem-31299	188	68	0.676	0.676	NUM
fbem-31299	188	69	current	current	ADJ
fbem-31299	188	70	1.280	1.280	NUM
fbem-31299	188	71	0.780	0.780	NUM
fbem-31299	188	72	roa	roa	NOUN
fbem-31299	188	73	1.230	1.230	NUM
fbem-31299	188	74	0.810	0.810	NUM
fbem-31299	188	75	tobinq	tobinq	PROPN
fbem-31299	188	76	1.170	1.170	NUM
fbem-31299	188	77	0.857	0.857	NUM
fbem-31299	188	78	board	board	NOUN
fbem-31299	188	79	1.130	1.130	NUM
fbem-31299	188	80	0.886	0.886	NUM
fbem-31299	188	81	dual	dual	ADJ
fbem-31299	188	82	1.120	1.120	NUM
fbem-31299	188	83	0.896	0.896	NUM
fbem-31299	188	84	mshare	mshare	ADJ
fbem-31299	188	85	1.100	1.100	NUM
fbem-31299	188	86	0.910	0.910	NUM
fbem-31299	188	87	der	der	NOUN
fbem-31299	188	88	1.050	1.050	NUM
fbem-31299	188	89	0.956	0.956	NUM
fbem-31299	188	90	indep	indep	NOUN
fbem-31299	188	91	1.040	1.040	NUM
fbem-31299	188	92	0.957	0.957	NUM
fbem-31299	188	93	growth	growth	NOUN
fbem-31299	188	94	1	1	NUM
fbem-31299	188	95	0.997	0.997	NUM
fbem-31299	188	96	mean	mean	NOUN
fbem-31299	188	97	vif	vif	PROPN
fbem-31299	188	98	1.320	1.320	NUM
fbem-31299	188	99	4.3	4.3	NUM
fbem-31299	188	100	.	.	PUNCT
fbem-31299	189	1	baseline	baseline	PROPN
fbem-31299	189	2	regression	regression	VERB
fbem-31299	189	3	the	the	DET
fbem-31299	189	4	baseline	baseline	PROPN
fbem-31299	189	5	regression	regression	NOUN
fbem-31299	189	6	results	result	NOUN
fbem-31299	189	7	show	show	VERB
fbem-31299	189	8	that	that	SCONJ
fbem-31299	189	9	the	the	DET
fbem-31299	189	10	coefficient	coefficient	NOUN
fbem-31299	189	11	of	of	ADP
fbem-31299	189	12	patient	patient	ADJ
fbem-31299	189	13	capital	capital	NOUN
fbem-31299	189	14	(	(	PUNCT
fbem-31299	189	15	invest	invest	VERB
fbem-31299	189	16	)	)	PUNCT
fbem-31299	189	17	on	on	ADP
fbem-31299	189	18	enterprise	enterprise	NOUN
fbem-31299	189	19	resilience	resilience	NOUN
fbem-31299	189	20	(	(	PUNCT
fbem-31299	189	21	res	re	NOUN
fbem-31299	189	22	)	)	PUNCT
fbem-31299	189	23	is	be	AUX
fbem-31299	189	24	significantly	significantly	ADV
fbem-31299	189	25	positive	positive	ADJ
fbem-31299	189	26	at	at	ADP
fbem-31299	189	27	the	the	DET
fbem-31299	189	28	1	1	NUM
fbem-31299	189	29	%	%	NOUN
fbem-31299	189	30	level	level	NOUN
fbem-31299	189	31	(	(	PUNCT
fbem-31299	189	32	coefficient	coefficient	NOUN
fbem-31299	189	33	=	=	PUNCT
fbem-31299	189	34	0.000102	0.000102	NUM
fbem-31299	189	35	,	,	PUNCT
fbem-31299	189	36	t	t	NOUN
fbem-31299	189	37	=	=	SYM
fbem-31299	189	38	3.95	3.95	NUM
fbem-31299	189	39	)	)	PUNCT
fbem-31299	189	40	,	,	PUNCT
fbem-31299	189	41	supporting	support	VERB
fbem-31299	189	42	hypothesis	hypothesis	NOUN
fbem-31299	189	43	h1	h1	NOUN
fbem-31299	189	44	.	.	PUNCT
fbem-31299	190	1	among	among	ADP
fbem-31299	190	2	the	the	DET
fbem-31299	190	3	control	control	NOUN
fbem-31299	190	4	variables	variable	NOUN
fbem-31299	190	5	,	,	PUNCT
fbem-31299	190	6	the	the	DET
fbem-31299	190	7	coefficients	coefficient	NOUN
fbem-31299	190	8	of	of	ADP
fbem-31299	190	9	the	the	DET
fbem-31299	190	10	asset	asset	NOUN
fbem-31299	190	11	-	-	PUNCT
fbem-31299	190	12	liability	liability	NOUN
fbem-31299	190	13	ratio	ratio	NOUN
fbem-31299	190	14	(	(	PUNCT
fbem-31299	190	15	lev	lev	NOUN
fbem-31299	190	16	)	)	PUNCT
fbem-31299	190	17	and	and	CCONJ
fbem-31299	190	18	return	return	VERB
fbem-31299	190	19	on	on	ADP
fbem-31299	190	20	total	total	ADJ
fbem-31299	190	21	assets	asset	NOUN
fbem-31299	190	22	(	(	PUNCT
fbem-31299	190	23	roa	roa	NOUN
fbem-31299	190	24	)	)	PUNCT
fbem-31299	190	25	are	be	AUX
fbem-31299	190	26	significantly	significantly	ADV
fbem-31299	190	27	positive	positive	ADJ
fbem-31299	190	28	,	,	PUNCT
fbem-31299	190	29	indicating	indicate	VERB
fbem-31299	190	30	that	that	SCONJ
fbem-31299	190	31	financial	financial	ADJ
fbem-31299	190	32	health	health	NOUN
fbem-31299	190	33	positively	positively	ADV
fbem-31299	190	34	influences	influence	VERB
fbem-31299	190	35	enterprise	enterprise	NOUN
fbem-31299	190	36	resilience	resilience	NOUN
fbem-31299	190	37	.	.	PUNCT
fbem-31299	191	1	in	in	ADP
fbem-31299	191	2	contrast	contrast	NOUN
fbem-31299	191	3	,	,	PUNCT
fbem-31299	191	4	the	the	DET
fbem-31299	191	5	coefficient	coefficient	NOUN
fbem-31299	191	6	for	for	ADP
fbem-31299	191	7	stateowned	stateowned	ADJ
fbem-31299	191	8	enterprises	enterprise	NOUN
fbem-31299	191	9	(	(	PUNCT
fbem-31299	191	10	soe	soe	PROPN
fbem-31299	191	11	)	)	PUNCT
fbem-31299	191	12	is	be	AUX
fbem-31299	191	13	significantly	significantly	ADV
fbem-31299	191	14	negative	negative	ADJ
fbem-31299	191	15	,	,	PUNCT
fbem-31299	191	16	possibly	possibly	ADV
fbem-31299	191	17	reflecting	reflect	VERB
fbem-31299	191	18	their	their	PRON
fbem-31299	191	19	lower	low	ADJ
fbem-31299	191	20	governance	governance	NOUN
fbem-31299	191	21	efficiency	efficiency	NOUN
fbem-31299	191	22	.	.	PUNCT
fbem-31299	192	1	the	the	DET
fbem-31299	192	2	model	model	NOUN
fbem-31299	192	3	exhibits	exhibit	VERB
fbem-31299	192	4	good	good	ADJ
fbem-31299	192	5	fit	fit	NOUN
fbem-31299	192	6	(	(	PUNCT
fbem-31299	192	7	r²	r²	NOUN
fbem-31299	192	8	=	=	SYM
fbem-31299	192	9	0.435	0.435	NUM
fbem-31299	192	10	)	)	PUNCT
fbem-31299	192	11	,	,	PUNCT
fbem-31299	192	12	and	and	CCONJ
fbem-31299	192	13	the	the	DET
fbem-31299	192	14	choice	choice	NOUN
fbem-31299	192	15	of	of	ADP
fbem-31299	192	16	the	the	DET
fbem-31299	192	17	fixedeffects	fixedeffect	NOUN
fbem-31299	192	18	model	model	NOUN
fbem-31299	192	19	is	be	AUX
fbem-31299	192	20	further	far	ADV
fbem-31299	192	21	supported	support	VERB
fbem-31299	192	22	by	by	ADP
fbem-31299	192	23	the	the	DET
fbem-31299	192	24	f	f	NOUN
fbem-31299	192	25	-	-	PUNCT
fbem-31299	192	26	test	test	NOUN
fbem-31299	192	27	and	and	CCONJ
fbem-31299	192	28	hausman	hausman	ADJ
fbem-31299	192	29	test	test	NOUN
fbem-31299	192	30	.	.	PUNCT
fbem-31299	193	1	table	table	NOUN
fbem-31299	193	2	5	5	NUM
fbem-31299	193	3	.	.	PUNCT
fbem-31299	194	1	regression	regression	NOUN
fbem-31299	194	2	results	result	NOUN
fbem-31299	194	3	of	of	ADP
fbem-31299	194	4	patient	patient	ADJ
fbem-31299	194	5	capital	capital	NOUN
fbem-31299	194	6	on	on	ADP
fbem-31299	194	7	enterprise	enterprise	NOUN
fbem-31299	194	8	resilience	resilience	NOUN
fbem-31299	194	9	res	re	NOUN
fbem-31299	194	10	res	re	NOUN
fbem-31299	194	11	res	re	NOUN
fbem-31299	194	12	invest	invest	VERB
fbem-31299	194	13	0.0131	0.0131	NUM
fbem-31299	194	14	*	*	PUNCT
fbem-31299	194	15	*	*	PUNCT
fbem-31299	194	16	*	*	PUNCT
fbem-31299	195	1	0.0107	0.0107	NUM
fbem-31299	195	2	*	*	PUNCT
fbem-31299	195	3	*	*	PUNCT
fbem-31299	195	4	*	*	PUNCT
fbem-31299	195	5	0.0103	0.0103	NUM
fbem-31299	195	6	*	*	PUNCT
fbem-31299	195	7	*	*	PUNCT
fbem-31299	195	8	*	*	PUNCT
fbem-31299	195	9	(	(	PUNCT
fbem-31299	195	10	5.57	5.57	NUM
fbem-31299	195	11	)	)	PUNCT
fbem-31299	195	12	(	(	PUNCT
fbem-31299	195	13	4.51	4.51	NUM
fbem-31299	195	14	)	)	PUNCT
fbem-31299	195	15	(	(	PUNCT
fbem-31299	195	16	3.95	3.95	NUM
fbem-31299	195	17	)	)	PUNCT
fbem-31299	195	18	current	current	ADJ
fbem-31299	195	19	0.0000547	0.0000547	NUM
fbem-31299	195	20	0.0000587	0.0000587	NUM
fbem-31299	195	21	(	(	PUNCT
fbem-31299	195	22	0.43	0.43	NUM
fbem-31299	195	23	)	)	PUNCT
fbem-31299	195	24	(	(	PUNCT
fbem-31299	195	25	0.46	0.46	NUM
fbem-31299	195	26	)	)	PUNCT
fbem-31299	195	27	lev	lev	NOUN
fbem-31299	195	28	0.0101	0.0101	NUM
fbem-31299	195	29	*	*	PUNCT
fbem-31299	195	30	*	*	PUNCT
fbem-31299	195	31	*	*	PUNCT
fbem-31299	195	32	0.0103	0.0103	NUM
fbem-31299	195	33	*	*	PUNCT
fbem-31299	195	34	*	*	PUNCT
fbem-31299	195	35	*	*	PUNCT
fbem-31299	195	36	(	(	PUNCT
fbem-31299	195	37	4.36	4.36	NUM
fbem-31299	195	38	)	)	PUNCT
fbem-31299	195	39	(	(	PUNCT
fbem-31299	195	40	4.32	4.32	NUM
fbem-31299	195	41	)	)	PUNCT
fbem-31299	195	42	roa	roa	NOUN
fbem-31299	195	43	0.0400	0.0400	NUM
fbem-31299	195	44	*	*	PUNCT
fbem-31299	195	45	*	*	PUNCT
fbem-31299	195	46	*	*	PUNCT
fbem-31299	195	47	0.0403	0.0403	NUM
fbem-31299	195	48	*	*	PUNCT
fbem-31299	195	49	*	*	PUNCT
fbem-31299	195	50	*	*	PUNCT
fbem-31299	195	51	(	(	PUNCT
fbem-31299	195	52	11.00	11.00	NUM
fbem-31299	195	53	)	)	PUNCT
fbem-31299	195	54	(	(	PUNCT
fbem-31299	195	55	11.05	11.05	NUM
fbem-31299	195	56	)	)	PUNCT
fbem-31299	195	57	growth	growth	NOUN
fbem-31299	195	58	0.0000856	0.0000856	NUM
fbem-31299	195	59	*	*	PUNCT
fbem-31299	195	60	*	*	PUNCT
fbem-31299	195	61	0.0000815	0.0000815	NUM
fbem-31299	195	62	*	*	SYM
fbem-31299	195	63	(	(	PUNCT
fbem-31299	195	64	1.98	1.98	NUM
fbem-31299	195	65	)	)	PUNCT
fbem-31299	195	66	(	(	PUNCT
fbem-31299	195	67	1.88	1.88	NUM
fbem-31299	195	68	)	)	PUNCT
fbem-31299	195	69	tobinq	tobinq	PROPN
fbem-31299	195	70	-0.00000645	-0.00000645	NOUN
fbem-31299	195	71	-0.00000356	-0.00000356	NOUN
fbem-31299	195	72	(	(	PUNCT
fbem-31299	195	73	-0.03	-0.03	NOUN
fbem-31299	195	74	)	)	PUNCT
fbem-31299	195	75	(	(	PUNCT
fbem-31299	195	76	-0.02	-0.02	X
fbem-31299	195	77	)	)	PUNCT
fbem-31299	195	78	bm	bm	PROPN
fbem-31299	195	79	-4.16e-08	-4.16e-08	NOUN
fbem-31299	195	80	-3.81e-08	-3.81e-08	NOUN
fbem-31299	195	81	(	(	PUNCT
fbem-31299	195	82	-0.11	-0.11	NUM
fbem-31299	195	83	)	)	PUNCT
fbem-31299	195	84	(	(	PUNCT
fbem-31299	195	85	-0.10	-0.10	NOUN
fbem-31299	195	86	)	)	PUNCT
fbem-31299	195	87	der	der	NOUN
fbem-31299	195	88	-0.0000132	-0.0000132	X
fbem-31299	196	1	(	(	PUNCT
fbem-31299	196	2	-0.36	-0.36	NOUN
fbem-31299	196	3	)	)	PUNCT
fbem-31299	196	4	listage	listage	NOUN
fbem-31299	196	5	0.000281	0.000281	NUM
fbem-31299	196	6	(	(	PUNCT
fbem-31299	196	7	0.17	0.17	NUM
fbem-31299	196	8	)	)	PUNCT
fbem-31299	196	9	soe	soe	ADJ
fbem-31299	196	10	-0.00266	-0.00266	NOUN
fbem-31299	196	11	*	*	PUNCT
fbem-31299	196	12	(	(	PUNCT
fbem-31299	196	13	-1.92	-1.92	NOUN
fbem-31299	196	14	)	)	PUNCT
fbem-31299	196	15	board	board	NOUN
fbem-31299	196	16	0.00138	0.00138	NUM
fbem-31299	196	17	(	(	PUNCT
fbem-31299	196	18	1.29	1.29	NUM
fbem-31299	196	19	)	)	PUNCT
fbem-31299	196	20	indep	indep	NOUN
fbem-31299	196	21	-0.00159	-0.00159	PROPN
fbem-31299	196	22	(	(	PUNCT
fbem-31299	196	23	-0.50	-0.50	PROPN
fbem-31299	196	24	)	)	PUNCT
fbem-31299	196	25	dual	dual	ADJ
fbem-31299	196	26	0.000877	0.000877	NUM
fbem-31299	196	27	(	(	PUNCT
fbem-31299	196	28	1.29	1.29	NUM
fbem-31299	196	29	)	)	PUNCT
fbem-31299	196	30	herfindahl10	herfindahl10	NOUN
fbem-31299	196	31	0.00267	0.00267	NUM
fbem-31299	196	32	(	(	PUNCT
fbem-31299	196	33	0.53	0.53	NUM
fbem-31299	196	34	)	)	PUNCT
fbem-31299	196	35	mshare	mshare	VERB
fbem-31299	196	36	-0.00176	-0.00176	NOUN
fbem-31299	196	37	*	*	PUNCT
fbem-31299	197	1	*	*	PUNCT
fbem-31299	197	2	*	*	PUNCT
fbem-31299	197	3	(	(	PUNCT
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fbem-31299	197	5	)	)	PUNCT
fbem-31299	197	6	_	_	NOUN
fbem-31299	197	7	cons	con	NOUN
fbem-31299	197	8	0.299	0.299	NUM
fbem-31299	197	9	*	*	PUNCT
fbem-31299	197	10	*	*	PUNCT
fbem-31299	197	11	*	*	PUNCT
fbem-31299	197	12	0.294	0.294	NUM
fbem-31299	197	13	*	*	PUNCT
fbem-31299	197	14	*	*	PUNCT
fbem-31299	197	15	*	*	PUNCT
fbem-31299	197	16	0.291	0.291	NUM
fbem-31299	197	17	*	*	PUNCT
fbem-31299	197	18	*	*	PUNCT
fbem-31299	197	19	*	*	PUNCT
fbem-31299	197	20	(	(	PUNCT
fbem-31299	197	21	279.88	279.88	NUM
fbem-31299	197	22	)	)	PUNCT
fbem-31299	197	23	(	(	PUNCT
fbem-31299	197	24	171.65	171.65	NUM
fbem-31299	197	25	)	)	PUNCT
fbem-31299	197	26	(	(	PUNCT
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fbem-31299	197	28	)	)	PUNCT
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fbem-31299	198	1	yes	yes	INTJ
fbem-31299	199	1	yes	yes	INTJ
fbem-31299	200	1	yes	yes	INTJ
fbem-31299	200	2	year	year	NOUN
fbem-31299	201	1	yes	yes	INTJ
fbem-31299	202	1	yes	yes	INTJ
fbem-31299	203	1	yes	yes	INTJ
fbem-31299	203	2	n	n	PRON
fbem-31299	203	3	9926	9926	NUM
fbem-31299	203	4	9926	9926	NUM
fbem-31299	203	5	9926	9926	NUM
fbem-31299	203	6	f	f	NOUN
fbem-31299	203	7	31	31	NUM
fbem-31299	203	8	*	*	PUNCT
fbem-31299	203	9	*	*	PUNCT
fbem-31299	203	10	*	*	PUNCT
fbem-31299	203	11	23	23	NUM
fbem-31299	203	12	*	*	PUNCT
fbem-31299	203	13	*	*	PUNCT
fbem-31299	203	14	*	*	PUNCT
fbem-31299	204	1	12	12	NUM
fbem-31299	204	2	*	*	PUNCT
fbem-31299	204	3	*	*	PUNCT
fbem-31299	204	4	*	*	PUNCT
fbem-31299	204	5	r2	r2	PROPN
fbem-31299	204	6	0.426	0.426	NUM
fbem-31299	204	7	0.434	0.434	NUM
fbem-31299	204	8	0.435	0.435	NUM
fbem-31299	204	9	r2_a	r2_a	NOUN
fbem-31299	204	10	0.344	0.344	NUM
fbem-31299	204	11	0.353	0.353	NUM
fbem-31299	204	12	0.353	0.353	NUM
fbem-31299	204	13	t	t	NOUN
fbem-31299	204	14	statistics	statistic	NOUN
fbem-31299	204	15	in	in	ADP
fbem-31299	204	16	parentheses	parenthesis	NOUN
fbem-31299	204	17	*	*	PUNCT
fbem-31299	204	18	p	p	X
fbem-31299	204	19	<	<	X
fbem-31299	204	20	0.1	0.1	NUM
fbem-31299	204	21	,	,	PUNCT
fbem-31299	204	22	*	*	PUNCT
fbem-31299	204	23	*	*	PUNCT
fbem-31299	204	24	p	p	X
fbem-31299	204	25	<	<	X
fbem-31299	204	26	0.05	0.05	NUM
fbem-31299	204	27	,	,	PUNCT
fbem-31299	204	28	*	*	PUNCT
fbem-31299	204	29	*	*	PUNCT
fbem-31299	204	30	*	*	PUNCT
fbem-31299	205	1	p	p	X
fbem-31299	205	2	<	<	X
fbem-31299	205	3	0.01	0.01	NUM
fbem-31299	205	4	table	table	NOUN
fbem-31299	205	5	6	6	NUM
fbem-31299	205	6	.	.	PUNCT
fbem-31299	205	7	model	model	NOUN
fbem-31299	205	8	specification	specification	NOUN
fbem-31299	205	9	tests	test	NOUN
fbem-31299	205	10	test	test	NOUN
fbem-31299	205	11	method	method	NOUN
fbem-31299	205	12	test	test	NOUN
fbem-31299	205	13	value	value	NOUN
fbem-31299	205	14	pvalue	pvalue	NOUN
fbem-31299	205	15	test	test	NOUN
fbem-31299	205	16	conclusion	conclusion	NOUN
fbem-31299	205	17	f	f	X
fbem-31299	205	18	-	-	PUNCT
fbem-31299	205	19	test	test	NOUN
fbem-31299	205	20	4.34	4.34	NUM
fbem-31299	205	21	0.000	0.000	NUM
fbem-31299	205	22	fixed	fix	VERB
fbem-31299	205	23	-	-	PUNCT
fbem-31299	205	24	effects	effect	NOUN
fbem-31299	205	25	model	model	NOUN
fbem-31299	205	26	is	be	AUX
fbem-31299	205	27	superior	superior	ADJ
fbem-31299	205	28	to	to	PART
fbem-31299	205	29	pooled	pooled	VERB
fbem-31299	205	30	ols	ols	PROPN
fbem-31299	205	31	model	model	PROPN
fbem-31299	205	32	lm	lm	PROPN
fbem-31299	205	33	test	test	NOUN
fbem-31299	205	34	4682	4682	NUM
fbem-31299	205	35	.	.	PUNCT
fbem-31299	206	1	91	91	NUM
fbem-31299	206	2	0.000	0.000	NUM
fbem-31299	206	3	random	random	ADJ
fbem-31299	206	4	-	-	PUNCT
fbem-31299	206	5	effects	effect	NOUN
fbem-31299	206	6	model	model	NOUN
fbem-31299	206	7	is	be	AUX
fbem-31299	206	8	superior	superior	ADJ
fbem-31299	206	9	to	to	PART
fbem-31299	206	10	pooled	pooled	VERB
fbem-31299	206	11	ols	ols	PROPN
fbem-31299	206	12	model	model	PROPN
fbem-31299	206	13	hausman	hausman	PROPN
fbem-31299	206	14	test	test	VERB
fbem-31299	206	15	77.20	77.20	NUM
fbem-31299	206	16	0.000	0.000	NUM
fbem-31299	206	17	fixed	fix	VERB
fbem-31299	206	18	-	-	PUNCT
fbem-31299	206	19	effects	effect	NOUN
fbem-31299	206	20	model	model	NOUN
fbem-31299	206	21	is	be	AUX
fbem-31299	206	22	superior	superior	ADJ
fbem-31299	206	23	to	to	ADP
fbem-31299	206	24	random	random	ADJ
fbem-31299	206	25	-	-	PUNCT
fbem-31299	206	26	effects	effect	NOUN
fbem-31299	206	27	model	model	NOUN
fbem-31299	206	28	111	111	NUM
fbem-31299	206	29	4.4	4.4	NUM
fbem-31299	206	30	.	.	PUNCT
fbem-31299	207	1	endogeneity	endogeneity	NOUN
fbem-31299	207	2	test	test	NOUN
fbem-31299	207	3	table	table	NOUN
fbem-31299	207	4	7	7	NUM
fbem-31299	207	5	.	.	PUNCT
fbem-31299	208	1	instrumental	instrumental	ADJ
fbem-31299	208	2	variable	variable	ADJ
fbem-31299	208	3	estimation	estimation	NOUN
fbem-31299	208	4	first	first	ADJ
fbem-31299	208	5	stage	stage	NOUN
fbem-31299	208	6	(	(	PUNCT
fbem-31299	208	7	invest	invest	VERB
fbem-31299	208	8	)	)	PUNCT
fbem-31299	208	9	second	second	ADJ
fbem-31299	208	10	stage	stage	NOUN
fbem-31299	208	11	(	(	PUNCT
fbem-31299	208	12	res	re	NOUN
fbem-31299	208	13	)	)	PUNCT
fbem-31299	208	14	invest	invest	VERB
fbem-31299	208	15	0.0235	0.0235	NUM
fbem-31299	208	16	*	*	PUNCT
fbem-31299	208	17	*	*	PUNCT
fbem-31299	208	18	*	*	PUNCT
fbem-31299	208	19	(	(	PUNCT
fbem-31299	208	20	5.14	5.14	NUM
fbem-31299	208	21	)	)	PUNCT
fbem-31299	208	22	top5	top5	NOUN
fbem-31299	208	23	0.965	0.965	PRON
fbem-31299	208	24	*	*	PUNCT
fbem-31299	209	1	*	*	PUNCT
fbem-31299	209	2	*	*	PUNCT
fbem-31299	209	3	(	(	PUNCT
fbem-31299	209	4	64.10	64.10	NUM
fbem-31299	209	5	)	)	PUNCT
fbem-31299	209	6	current	current	VERB
fbem-31299	209	7	0.000180	0.000180	NUM
fbem-31299	209	8	0.0000579	0.0000579	NUM
fbem-31299	209	9	(	(	PUNCT
fbem-31299	209	10	0.41	0.41	NUM
fbem-31299	209	11	)	)	PUNCT
fbem-31299	209	12	(	(	PUNCT
fbem-31299	209	13	0.45	0.45	NUM
fbem-31299	209	14	)	)	PUNCT
fbem-31299	209	15	lev	lev	NOUN
fbem-31299	209	16	-0.0141	-0.0141	NOUN
fbem-31299	209	17	*	*	PROPN
fbem-31299	209	18	0.0110	0.0110	NUM
fbem-31299	209	19	*	*	PUNCT
fbem-31299	209	20	*	*	PUNCT
fbem-31299	209	21	*	*	PUNCT
fbem-31299	209	22	(	(	PUNCT
fbem-31299	209	23	-1.73	-1.73	NUM
fbem-31299	209	24	)	)	PUNCT
fbem-31299	209	25	(	(	PUNCT
fbem-31299	209	26	4.60	4.60	NUM
fbem-31299	209	27	)	)	PUNCT
fbem-31299	209	28	roa	roa	NOUN
fbem-31299	209	29	0.0670	0.0670	NUM
fbem-31299	209	30	*	*	PUNCT
fbem-31299	209	31	*	*	PUNCT
fbem-31299	209	32	*	*	PUNCT
fbem-31299	209	33	0.0392	0.0392	NUM
fbem-31299	209	34	*	*	PUNCT
fbem-31299	209	35	*	*	PUNCT
fbem-31299	209	36	*	*	PUNCT
fbem-31299	209	37	(	(	PUNCT
fbem-31299	209	38	5.39	5.39	NUM
fbem-31299	209	39	)	)	PUNCT
fbem-31299	209	40	(	(	PUNCT
fbem-31299	209	41	10.72	10.72	NUM
fbem-31299	209	42	)	)	PUNCT
fbem-31299	209	43	growth	growth	NOUN
fbem-31299	209	44	0.000126	0.000126	NUM
fbem-31299	209	45	0.0000781	0.0000781	NUM
fbem-31299	209	46	*	*	PUNCT
fbem-31299	209	47	(	(	PUNCT
fbem-31299	209	48	0.85	0.85	NUM
fbem-31299	209	49	)	)	PUNCT
fbem-31299	209	50	(	(	PUNCT
fbem-31299	209	51	1.80	1.80	NUM
fbem-31299	209	52	)	)	PUNCT
fbem-31299	209	53	tobinq	tobinq	NOUN
fbem-31299	209	54	0.00572	0.00572	NUM
fbem-31299	209	55	*	*	PUNCT
fbem-31299	209	56	*	*	PUNCT
fbem-31299	209	57	*	*	PUNCT
fbem-31299	209	58	-0.0000690	-0.0000690	NOUN
fbem-31299	209	59	(	(	PUNCT
fbem-31299	209	60	8.91	8.91	NUM
fbem-31299	209	61	)	)	PUNCT
fbem-31299	209	62	(	(	PUNCT
fbem-31299	209	63	-0.36	-0.36	NOUN
fbem-31299	209	64	)	)	PUNCT
fbem-31299	209	65	bm	bm	PROPN
fbem-31299	209	66	-0.0000159	-0.0000159	NOUN
fbem-31299	209	67	*	*	PUNCT
fbem-31299	209	68	*	*	PUNCT
fbem-31299	209	69	*	*	X
fbem-31299	209	70	0.000000168	0.000000168	NUM
fbem-31299	209	71	(	(	PUNCT
fbem-31299	209	72	-12.87	-12.87	PROPN
fbem-31299	209	73	)	)	PUNCT
fbem-31299	209	74	(	(	PUNCT
fbem-31299	209	75	0.46	0.46	NUM
fbem-31299	209	76	)	)	PUNCT
fbem-31299	209	77	der	der	NOUN
fbem-31299	209	78	0.00000348	0.00000348	NUM
fbem-31299	209	79	-0.0000120	-0.0000120	NOUN
fbem-31299	209	80	(	(	PUNCT
fbem-31299	209	81	0.03	0.03	NUM
fbem-31299	209	82	)	)	PUNCT
fbem-31299	209	83	(	(	PUNCT
fbem-31299	209	84	-0.33	-0.33	ADJ
fbem-31299	209	85	)	)	PUNCT
fbem-31299	209	86	listage	listage	NOUN
fbem-31299	209	87	0.124	0.124	NUM
fbem-31299	209	88	*	*	SYM
fbem-31299	209	89	*	*	PUNCT
fbem-31299	209	90	*	*	PUNCT
fbem-31299	209	91	-0.000216	-0.000216	X
fbem-31299	209	92	(	(	PUNCT
fbem-31299	209	93	21.35	21.35	NUM
fbem-31299	209	94	)	)	PUNCT
fbem-31299	209	95	(	(	PUNCT
fbem-31299	209	96	-0.13	-0.13	X
fbem-31299	209	97	)	)	PUNCT
fbem-31299	209	98	soe	soe	PROPN
fbem-31299	209	99	0.0237	0.0237	NUM
fbem-31299	209	100	*	*	PUNCT
fbem-31299	209	101	*	*	PUNCT
fbem-31299	209	102	*	*	PUNCT
fbem-31299	209	103	-0.00302	-0.00302	PUNCT
fbem-31299	210	1	*	*	PUNCT
fbem-31299	210	2	*	*	PUNCT
fbem-31299	210	3	(	(	PUNCT
fbem-31299	210	4	5.01	5.01	NUM
fbem-31299	210	5	)	)	PUNCT
fbem-31299	210	6	(	(	PUNCT
fbem-31299	210	7	-2.17	-2.17	NOUN
fbem-31299	210	8	)	)	PUNCT
fbem-31299	210	9	board	board	NOUN
fbem-31299	210	10	0.00275	0.00275	NUM
fbem-31299	210	11	0.00121	0.00121	NUM
fbem-31299	210	12	(	(	PUNCT
fbem-31299	210	13	0.76	0.76	NUM
fbem-31299	210	14	)	)	PUNCT
fbem-31299	210	15	(	(	PUNCT
fbem-31299	210	16	1.13	1.13	NUM
fbem-31299	210	17	)	)	PUNCT
fbem-31299	210	18	indep	indep	NOUN
fbem-31299	210	19	-0.0210	-0.0210	NOUN
fbem-31299	210	20	*	*	PUNCT
fbem-31299	210	21	-0.00111	-0.00111	NOUN
fbem-31299	210	22	(	(	PUNCT
fbem-31299	210	23	-1.93	-1.93	NUM
fbem-31299	210	24	)	)	PUNCT
fbem-31299	210	25	(	(	PUNCT
fbem-31299	210	26	-0.35	-0.35	NOUN
fbem-31299	210	27	)	)	PUNCT
fbem-31299	210	28	dual	dual	ADJ
fbem-31299	210	29	-0.00334	-0.00334	NOUN
fbem-31299	211	1	0.000916	0.000916	NUM
fbem-31299	211	2	(	(	PUNCT
fbem-31299	211	3	-1.44	-1.44	X
fbem-31299	211	4	)	)	PUNCT
fbem-31299	211	5	(	(	PUNCT
fbem-31299	211	6	1.35	1.35	NUM
fbem-31299	211	7	)	)	PUNCT
fbem-31299	211	8	herfindahl10	herfindahl10	NOUN
fbem-31299	211	9	-0.127	-0.127	NOUN
fbem-31299	211	10	*	*	PUNCT
fbem-31299	211	11	*	*	PUNCT
fbem-31299	211	12	*	*	PUNCT
fbem-31299	211	13	-0.00737	-0.00737	X
fbem-31299	211	14	(	(	PUNCT
fbem-31299	211	15	-6.08	-6.08	NUM
fbem-31299	211	16	)	)	PUNCT
fbem-31299	211	17	(	(	PUNCT
fbem-31299	211	18	-1.28	-1.28	X
fbem-31299	211	19	)	)	PUNCT
fbem-31299	211	20	mshare	mshare	NOUN
fbem-31299	211	21	-0.00901	-0.00901	NOUN
fbem-31299	212	1	*	*	PUNCT
fbem-31299	213	1	*	*	PUNCT
fbem-31299	213	2	*	*	PUNCT
fbem-31299	213	3	-0.00163	-0.00163	X
fbem-31299	213	4	*	*	PUNCT
fbem-31299	213	5	*	*	PUNCT
fbem-31299	213	6	(	(	PUNCT
fbem-31299	213	7	-3.90	-3.90	NUM
fbem-31299	213	8	)	)	PUNCT
fbem-31299	213	9	(	(	PUNCT
fbem-31299	213	10	-2.40	-2.40	X
fbem-31299	213	11	)	)	PUNCT
fbem-31299	213	12	firm	firm	NOUN
fbem-31299	214	1	yes	yes	INTJ
fbem-31299	214	2	yes	yes	INTJ
fbem-31299	215	1	year	year	NOUN
fbem-31299	216	1	yes	yes	INTJ
fbem-31299	216	2	yes	yes	INTJ
fbem-31299	217	1	n	n	PRON
fbem-31299	217	2	9926	9926	NUM
fbem-31299	217	3	9926	9926	NUM
fbem-31299	218	1	f	f	PROPN
fbem-31299	218	2	467	467	NUM
fbem-31299	218	3	*	*	PUNCT
fbem-31299	218	4	*	*	PUNCT
fbem-31299	218	5	*	*	PUNCT
fbem-31299	218	6	12	12	NUM
fbem-31299	218	7	*	*	PUNCT
fbem-31299	218	8	*	*	PUNCT
fbem-31299	218	9	*	*	PUNCT
fbem-31299	218	10	r2	r2	PROPN
fbem-31299	218	11	0.939	0.939	NUM
fbem-31299	218	12	0.017	0.017	NUM
fbem-31299	218	13	r2_a	r2_a	NOUN
fbem-31299	218	14	0.931	0.931	NUM
fbem-31299	218	15	-0.126	-0.126	ADP
fbem-31299	218	16	t	t	NOUN
fbem-31299	218	17	statistics	statistic	NOUN
fbem-31299	218	18	in	in	ADP
fbem-31299	218	19	parentheses	parenthesis	NOUN
fbem-31299	218	20	*	*	PUNCT
fbem-31299	218	21	p	p	X
fbem-31299	218	22	<	<	X
fbem-31299	218	23	0.1	0.1	NUM
fbem-31299	218	24	,	,	PUNCT
fbem-31299	218	25	*	*	PUNCT
fbem-31299	218	26	*	*	PUNCT
fbem-31299	218	27	p	p	X
fbem-31299	218	28	<	<	X
fbem-31299	218	29	0.05	0.05	NUM
fbem-31299	218	30	,	,	PUNCT
fbem-31299	218	31	*	*	PUNCT
fbem-31299	218	32	*	*	PUNCT
fbem-31299	218	33	*	*	PUNCT
fbem-31299	218	34	p	p	X
fbem-31299	218	35	<	<	X
fbem-31299	218	36	0.01	0.01	NUM
fbem-31299	218	37	due	due	ADP
fbem-31299	218	38	to	to	ADP
fbem-31299	218	39	the	the	DET
fbem-31299	218	40	potential	potential	ADJ
fbem-31299	218	41	bidirectional	bidirectional	ADJ
fbem-31299	218	42	causality	causality	NOUN
fbem-31299	218	43	between	between	ADP
fbem-31299	218	44	enterprise	enterprise	NOUN
fbem-31299	218	45	resilience	resilience	NOUN
fbem-31299	218	46	(	(	PUNCT
fbem-31299	218	47	res	re	NOUN
fbem-31299	218	48	)	)	PUNCT
fbem-31299	218	49	and	and	CCONJ
fbem-31299	218	50	patient	patient	ADJ
fbem-31299	218	51	capital	capital	NOUN
fbem-31299	218	52	(	(	PUNCT
fbem-31299	218	53	invest	invest	VERB
fbem-31299	218	54	)	)	PUNCT
fbem-31299	218	55	—	—	PUNCT
fbem-31299	218	56	where	where	SCONJ
fbem-31299	218	57	resilient	resilient	ADJ
fbem-31299	218	58	firms	firm	NOUN
fbem-31299	218	59	are	be	AUX
fbem-31299	218	60	more	more	ADV
fbem-31299	218	61	likely	likely	ADJ
fbem-31299	218	62	to	to	PART
fbem-31299	218	63	attract	attract	VERB
fbem-31299	218	64	long	long	ADJ
fbem-31299	218	65	-	-	PUNCT
fbem-31299	218	66	term	term	NOUN
fbem-31299	218	67	investors	investor	NOUN
fbem-31299	218	68	,	,	PUNCT
fbem-31299	218	69	while	while	SCONJ
fbem-31299	218	70	patient	patient	ADJ
fbem-31299	218	71	capital	capital	NOUN
fbem-31299	218	72	may	may	AUX
fbem-31299	218	73	further	far	ADV
fbem-31299	218	74	enhance	enhance	VERB
fbem-31299	218	75	resilience	resilience	NOUN
fbem-31299	218	76	—	—	PUNCT
fbem-31299	218	77	direct	direct	ADJ
fbem-31299	218	78	regression	regression	NOUN
fbem-31299	218	79	could	could	AUX
fbem-31299	218	80	lead	lead	VERB
fbem-31299	218	81	to	to	ADP
fbem-31299	218	82	endogeneity	endogeneity	NOUN
fbem-31299	218	83	bias	bias	NOUN
fbem-31299	218	84	.	.	PUNCT
fbem-31299	219	1	to	to	PART
fbem-31299	219	2	address	address	VERB
fbem-31299	219	3	this	this	DET
fbem-31299	219	4	issue	issue	NOUN
fbem-31299	219	5	,	,	PUNCT
fbem-31299	219	6	this	this	DET
fbem-31299	219	7	study	study	NOUN
fbem-31299	219	8	follows	follow	VERB
fbem-31299	219	9	the	the	DET
fbem-31299	219	10	approach	approach	NOUN
fbem-31299	219	11	of	of	ADP
fbem-31299	219	12	qiu	qiu	PROPN
fbem-31299	219	13	rong	rong	PROPN
fbem-31299	219	14	et	et	PROPN
fbem-31299	219	15	al	al	PROPN
fbem-31299	219	16	.	.	PUNCT
fbem-31299	220	1	[	[	X
fbem-31299	220	2	6	6	NUM
fbem-31299	220	3	]	]	PUNCT
fbem-31299	220	4	and	and	CCONJ
fbem-31299	220	5	employs	employ	VERB
fbem-31299	220	6	"	"	PUNCT
fbem-31299	220	7	ownership	ownership	NOUN
fbem-31299	220	8	concentration	concentration	NOUN
fbem-31299	220	9	"	"	PUNCT
fbem-31299	220	10	(	(	PUNCT
fbem-31299	220	11	the	the	DET
fbem-31299	220	12	shareholding	shareholding	NOUN
fbem-31299	220	13	ratio	ratio	NOUN
fbem-31299	220	14	of	of	ADP
fbem-31299	220	15	the	the	DET
fbem-31299	220	16	top	top	ADJ
fbem-31299	220	17	five	five	NUM
fbem-31299	220	18	shareholders	shareholder	NOUN
fbem-31299	220	19	,	,	PUNCT
fbem-31299	220	20	top5	top5	PROPN
fbem-31299	220	21	)	)	PUNCT
fbem-31299	220	22	as	as	ADP
fbem-31299	220	23	an	an	DET
fbem-31299	220	24	instrumental	instrumental	ADJ
fbem-31299	220	25	variable	variable	NOUN
fbem-31299	220	26	(	(	PUNCT
fbem-31299	220	27	iv	iv	X
fbem-31299	220	28	)	)	PUNCT
fbem-31299	220	29	for	for	ADP
fbem-31299	220	30	patient	patient	ADJ
fbem-31299	220	31	capital	capital	NOUN
fbem-31299	220	32	.	.	PUNCT
fbem-31299	221	1	this	this	DET
fbem-31299	221	2	selection	selection	NOUN
fbem-31299	221	3	is	be	AUX
fbem-31299	221	4	justified	justify	VERB
fbem-31299	221	5	by	by	ADP
fbem-31299	221	6	two	two	NUM
fbem-31299	221	7	criteria	criterion	NOUN
fbem-31299	221	8	:	:	PUNCT
fbem-31299	221	9	relevance	relevance	NOUN
fbem-31299	221	10	:	:	PUNCT
fbem-31299	221	11	firms	firm	NOUN
fbem-31299	221	12	with	with	ADP
fbem-31299	221	13	higher	high	ADJ
fbem-31299	221	14	ownership	ownership	NOUN
fbem-31299	221	15	concentration	concentration	NOUN
fbem-31299	221	16	are	be	AUX
fbem-31299	221	17	more	more	ADV
fbem-31299	221	18	inclined	inclined	ADJ
fbem-31299	221	19	to	to	PART
fbem-31299	221	20	introduce	introduce	VERB
fbem-31299	221	21	long	long	ADJ
fbem-31299	221	22	-	-	PUNCT
fbem-31299	221	23	term	term	NOUN
fbem-31299	221	24	,	,	PUNCT
fbem-31299	221	25	stable	stable	ADJ
fbem-31299	221	26	institutional	institutional	ADJ
fbem-31299	221	27	investors	investor	NOUN
fbem-31299	221	28	,	,	PUNCT
fbem-31299	221	29	making	make	VERB
fbem-31299	221	30	top5	top5	NOUN
fbem-31299	221	31	strongly	strongly	ADV
fbem-31299	221	32	correlated	correlate	VERB
fbem-31299	221	33	with	with	ADP
fbem-31299	221	34	patient	patient	ADJ
fbem-31299	221	35	capital	capital	NOUN
fbem-31299	221	36	holdings	holding	NOUN
fbem-31299	221	37	.	.	PUNCT
fbem-31299	222	1	exogeneity	exogeneity	NOUN
fbem-31299	222	2	:	:	PUNCT
fbem-31299	222	3	the	the	DET
fbem-31299	222	4	shareholding	shareholding	NOUN
fbem-31299	222	5	ratio	ratio	NOUN
fbem-31299	222	6	of	of	ADP
fbem-31299	222	7	the	the	DET
fbem-31299	222	8	top	top	ADJ
fbem-31299	222	9	five	five	NUM
fbem-31299	222	10	shareholders	shareholder	NOUN
fbem-31299	222	11	is	be	AUX
fbem-31299	222	12	primarily	primarily	ADV
fbem-31299	222	13	determined	determine	VERB
fbem-31299	222	14	by	by	ADP
fbem-31299	222	15	corporate	corporate	ADJ
fbem-31299	222	16	governance	governance	NOUN
fbem-31299	222	17	structures	structure	NOUN
fbem-31299	222	18	and	and	CCONJ
fbem-31299	222	19	historical	historical	ADJ
fbem-31299	222	20	equity	equity	NOUN
fbem-31299	222	21	arrangements	arrangement	NOUN
fbem-31299	222	22	,	,	PUNCT
fbem-31299	222	23	with	with	ADP
fbem-31299	222	24	no	no	DET
fbem-31299	222	25	direct	direct	ADJ
fbem-31299	222	26	link	link	NOUN
fbem-31299	222	27	to	to	ADP
fbem-31299	222	28	the	the	DET
fbem-31299	222	29	firm	firm	NOUN
fbem-31299	222	30	's	's	PART
fbem-31299	222	31	current	current	ADJ
fbem-31299	222	32	risk	risk	NOUN
fbem-31299	222	33	resilience	resilience	NOUN
fbem-31299	222	34	(	(	PUNCT
fbem-31299	222	35	res	re	NOUN
fbem-31299	222	36	)	)	PUNCT
fbem-31299	222	37	,	,	PUNCT
fbem-31299	222	38	satisfying	satisfy	VERB
fbem-31299	222	39	the	the	DET
fbem-31299	222	40	exclusion	exclusion	NOUN
fbem-31299	222	41	restriction	restriction	NOUN
fbem-31299	222	42	.	.	PUNCT
fbem-31299	223	1	the	the	DET
fbem-31299	223	2	results	result	NOUN
fbem-31299	223	3	of	of	ADP
fbem-31299	223	4	the	the	DET
fbem-31299	223	5	instrumental	instrumental	ADJ
fbem-31299	223	6	variable	variable	ADJ
fbem-31299	223	7	approach	approach	NOUN
fbem-31299	223	8	show	show	VERB
fbem-31299	223	9	that	that	SCONJ
fbem-31299	223	10	in	in	ADP
fbem-31299	223	11	the	the	DET
fbem-31299	223	12	first	first	ADJ
fbem-31299	223	13	-	-	PUNCT
fbem-31299	223	14	stage	stage	NOUN
fbem-31299	223	15	regression	regression	NOUN
fbem-31299	223	16	,	,	PUNCT
fbem-31299	223	17	ownership	ownership	NOUN
fbem-31299	223	18	concentration	concentration	NOUN
fbem-31299	223	19	(	(	PUNCT
fbem-31299	223	20	top5	top5	NOUN
fbem-31299	223	21	)	)	PUNCT
fbem-31299	223	22	as	as	ADP
fbem-31299	223	23	an	an	DET
fbem-31299	223	24	iv	iv	NOUN
fbem-31299	223	25	for	for	ADP
fbem-31299	223	26	patient	patient	ADJ
fbem-31299	223	27	capital	capital	NOUN
fbem-31299	223	28	yields	yield	VERB
fbem-31299	223	29	a	a	DET
fbem-31299	223	30	significant	significant	ADJ
fbem-31299	223	31	coefficient	coefficient	NOUN
fbem-31299	223	32	(	(	PUNCT
fbem-31299	223	33	96.44	96.44	NUM
fbem-31299	223	34	,	,	PUNCT
fbem-31299	223	35	t=64.08	t=64.08	NOUN
fbem-31299	223	36	)	)	PUNCT
fbem-31299	223	37	,	,	PUNCT
fbem-31299	223	38	with	with	ADP
fbem-31299	223	39	an	an	DET
fbem-31299	223	40	f	f	NOUN
fbem-31299	223	41	-	-	PUNCT
fbem-31299	223	42	statistic	statistic	NOUN
fbem-31299	223	43	of	of	ADP
fbem-31299	223	44	4105.84	4105.84	NUM
fbem-31299	223	45	,	,	PUNCT
fbem-31299	223	46	far	far	ADV
fbem-31299	223	47	exceeding	exceed	VERB
fbem-31299	223	48	the	the	DET
fbem-31299	223	49	critical	critical	ADJ
fbem-31299	223	50	threshold	threshold	NOUN
fbem-31299	223	51	.	.	PUNCT
fbem-31299	224	1	this	this	PRON
fbem-31299	224	2	confirms	confirm	VERB
fbem-31299	224	3	the	the	DET
fbem-31299	224	4	strength	strength	NOUN
fbem-31299	224	5	of	of	ADP
fbem-31299	224	6	the	the	DET
fbem-31299	224	7	instrument	instrument	NOUN
fbem-31299	224	8	.	.	PUNCT
fbem-31299	225	1	in	in	ADP
fbem-31299	225	2	the	the	DET
fbem-31299	225	3	second	second	ADJ
fbem-31299	225	4	-	-	PUNCT
fbem-31299	225	5	stage	stage	NOUN
fbem-31299	225	6	regression	regression	NOUN
fbem-31299	225	7	,	,	PUNCT
fbem-31299	225	8	the	the	DET
fbem-31299	225	9	coefficient	coefficient	NOUN
fbem-31299	225	10	for	for	ADP
fbem-31299	225	11	patient	patient	ADJ
fbem-31299	225	12	capital	capital	NOUN
fbem-31299	225	13	remains	remain	VERB
fbem-31299	225	14	significantly	significantly	ADV
fbem-31299	225	15	positive	positive	ADJ
fbem-31299	225	16	(	(	PUNCT
fbem-31299	225	17	0.000235	0.000235	NUM
fbem-31299	225	18	,	,	PUNCT
fbem-31299	225	19	t=5.14	t=5.14	NOUN
fbem-31299	225	20	)	)	PUNCT
fbem-31299	225	21	,	,	PUNCT
fbem-31299	225	22	indicating	indicate	VERB
fbem-31299	225	23	that	that	SCONJ
fbem-31299	225	24	the	the	DET
fbem-31299	225	25	positive	positive	ADJ
fbem-31299	225	26	impact	impact	NOUN
fbem-31299	225	27	of	of	ADP
fbem-31299	225	28	patient	patient	ADJ
fbem-31299	225	29	capital	capital	NOUN
fbem-31299	225	30	on	on	ADP
fbem-31299	225	31	enterprise	enterprise	NOUN
fbem-31299	225	32	resilience	resilience	NOUN
fbem-31299	225	33	persists	persist	VERB
fbem-31299	225	34	after	after	ADP
fbem-31299	225	35	controlling	control	VERB
fbem-31299	225	36	for	for	ADP
fbem-31299	225	37	endogeneity	endogeneity	NOUN
fbem-31299	225	38	.	.	PUNCT
fbem-31299	226	1	further	further	ADJ
fbem-31299	226	2	validation	validation	NOUN
fbem-31299	226	3	confirms	confirm	VERB
fbem-31299	226	4	its	its	PRON
fbem-31299	226	5	effectiveness	effectiveness	NOUN
fbem-31299	226	6	:	:	PUNCT
fbem-31299	226	7	the	the	DET
fbem-31299	226	8	anderson	anderson	PROPN
fbem-31299	226	9	lm	lm	PROPN
fbem-31299	226	10	test	test	PROPN
fbem-31299	226	11	(	(	PUNCT
fbem-31299	226	12	χ²=3191.22	χ²=3191.22	NUM
fbem-31299	226	13	,	,	PUNCT
fbem-31299	226	14	p=0.000	p=0.000	NUM
fbem-31299	226	15	)	)	PUNCT
fbem-31299	226	16	demonstrates	demonstrate	VERB
fbem-31299	226	17	a	a	DET
fbem-31299	226	18	significant	significant	ADJ
fbem-31299	226	19	correlation	correlation	NOUN
fbem-31299	226	20	between	between	ADP
fbem-31299	226	21	the	the	DET
fbem-31299	226	22	iv	iv	NOUN
fbem-31299	226	23	and	and	CCONJ
fbem-31299	226	24	the	the	DET
fbem-31299	226	25	endogenous	endogenous	ADJ
fbem-31299	226	26	variable	variable	NOUN
fbem-31299	226	27	.	.	PUNCT
fbem-31299	227	1	the	the	DET
fbem-31299	227	2	cragg	cragg	PROPN
fbem-31299	227	3	-	-	PUNCT
fbem-31299	227	4	donald	donald	PROPN
fbem-31299	227	5	wald	wald	PROPN
fbem-31299	227	6	f	f	X
fbem-31299	227	7	-	-	PUNCT
fbem-31299	227	8	statistic	statistic	ADJ
fbem-31299	227	9	(	(	PUNCT
fbem-31299	227	10	4105.84	4105.84	NUM
fbem-31299	227	11	)	)	PUNCT
fbem-31299	227	12	substantially	substantially	ADV
fbem-31299	227	13	surpasses	surpass	VERB
fbem-31299	227	14	the	the	DET
fbem-31299	227	15	stock	stock	NOUN
fbem-31299	227	16	-	-	PUNCT
fbem-31299	227	17	yogo	yogo	PROPN
fbem-31299	227	18	critical	critical	ADJ
fbem-31299	227	19	value	value	NOUN
fbem-31299	227	20	(	(	PUNCT
fbem-31299	227	21	16.38	16.38	NUM
fbem-31299	227	22	)	)	PUNCT
fbem-31299	227	23	,	,	PUNCT
fbem-31299	227	24	ruling	rule	VERB
fbem-31299	227	25	out	out	ADP
fbem-31299	227	26	weak	weak	ADJ
fbem-31299	227	27	instrument	instrument	NOUN
fbem-31299	227	28	concerns	concern	NOUN
fbem-31299	227	29	.	.	PUNCT
fbem-31299	228	1	the	the	DET
fbem-31299	228	2	second	second	ADJ
fbem-31299	228	3	-	-	PUNCT
fbem-31299	228	4	stage	stage	NOUN
fbem-31299	228	5	regression	regression	NOUN
fbem-31299	228	6	coefficient	coefficient	NOUN
fbem-31299	228	7	for	for	ADP
fbem-31299	228	8	patient	patient	ADJ
fbem-31299	228	9	capital	capital	NOUN
fbem-31299	228	10	remains	remain	VERB
fbem-31299	228	11	positive	positive	ADJ
fbem-31299	228	12	and	and	CCONJ
fbem-31299	228	13	significant	significant	ADJ
fbem-31299	228	14	(	(	PUNCT
fbem-31299	228	15	β=0.000235	β=0.000235	NOUN
fbem-31299	228	16	,	,	PUNCT
fbem-31299	228	17	p<0.01	p<0.01	PROPN
fbem-31299	228	18	)	)	PUNCT
fbem-31299	228	19	,	,	PUNCT
fbem-31299	228	20	confirming	confirm	VERB
fbem-31299	228	21	the	the	DET
fbem-31299	228	22	robustness	robustness	NOUN
fbem-31299	228	23	of	of	ADP
fbem-31299	228	24	the	the	DET
fbem-31299	228	25	core	core	NOUN
fbem-31299	228	26	findings	finding	NOUN
fbem-31299	228	27	after	after	ADP
fbem-31299	228	28	addressing	address	VERB
fbem-31299	228	29	endogeneity	endogeneity	NOUN
fbem-31299	228	30	.	.	PUNCT
fbem-31299	229	1	4.5	4.5	NUM
fbem-31299	229	2	.	.	PUNCT
fbem-31299	230	1	robustness	robustness	NOUN
fbem-31299	230	2	tests	test	NOUN
fbem-31299	230	3	robustness	robustness	NOUN
fbem-31299	230	4	tests	test	NOUN
fbem-31299	230	5	were	be	AUX
fbem-31299	230	6	conducted	conduct	VERB
fbem-31299	230	7	by	by	ADP
fbem-31299	230	8	replacing	replace	VERB
fbem-31299	230	9	the	the	DET
fbem-31299	230	10	explanatory	explanatory	ADJ
fbem-31299	230	11	variable	variable	NOUN
fbem-31299	230	12	(	(	PUNCT
fbem-31299	230	13	following	follow	VERB
fbem-31299	230	14	the	the	DET
fbem-31299	230	15	approach	approach	NOUN
fbem-31299	230	16	of	of	ADP
fbem-31299	230	17	jiang	jiang	PROPN
fbem-31299	230	18	zhongyu	zhongyu	PROPN
fbem-31299	230	19	and	and	CCONJ
fbem-31299	230	20	wu	wu	PROPN
fbem-31299	230	21	fuxiang	fuxiang	PROPN
fbem-31299	231	1	[	[	X
fbem-31299	231	2	8	8	NUM
fbem-31299	231	3	]	]	PUNCT
fbem-31299	231	4	,	,	PUNCT
fbem-31299	231	5	using	use	VERB
fbem-31299	231	6	the	the	DET
fbem-31299	231	7	proportion	proportion	NOUN
fbem-31299	231	8	of	of	ADP
fbem-31299	231	9	relational	relational	ADJ
fbem-31299	231	10	debt	debt	NOUN
fbem-31299	231	11	as	as	ADP
fbem-31299	231	12	a	a	DET
fbem-31299	231	13	substitute	substitute	NOUN
fbem-31299	231	14	for	for	ADP
fbem-31299	231	15	the	the	DET
fbem-31299	231	16	main	main	ADJ
fbem-31299	231	17	explanatory	explanatory	ADJ
fbem-31299	231	18	variable	variable	NOUN
fbem-31299	231	19	,	,	PUNCT
fbem-31299	231	20	patient	patient	ADJ
fbem-31299	231	21	capital	capital	NOUN
fbem-31299	231	22	,	,	PUNCT
fbem-31299	231	23	where	where	SCONJ
fbem-31299	231	24	relational	relational	ADJ
fbem-31299	231	25	debt	debt	NOUN
fbem-31299	231	26	ratio	ratio	NOUN
fbem-31299	231	27	=	=	PUNCT
fbem-31299	231	28	longterm	longterm	NOUN
fbem-31299	231	29	loans	loan	NOUN
fbem-31299	231	30	/	/	SYM
fbem-31299	231	31	(	(	PUNCT
fbem-31299	231	32	long	long	ADJ
fbem-31299	231	33	-	-	PUNCT
fbem-31299	231	34	term	term	NOUN
fbem-31299	231	35	loans	loan	NOUN
fbem-31299	231	36	+	+	CCONJ
fbem-31299	231	37	short	short	ADJ
fbem-31299	231	38	-	-	PUNCT
fbem-31299	231	39	term	term	NOUN
fbem-31299	231	40	loans	loan	NOUN
fbem-31299	231	41	+	+	CCONJ
fbem-31299	231	42	bonds	bond	NOUN
fbem-31299	231	43	payable	payable	ADJ
fbem-31299	231	44	+	+	CCONJ
fbem-31299	231	45	notes	note	NOUN
fbem-31299	231	46	payable	payable	ADJ
fbem-31299	231	47	)	)	PUNCT
fbem-31299	231	48	)	)	PUNCT
fbem-31299	231	49	,	,	PUNCT
fbem-31299	231	50	performing	perform	VERB
fbem-31299	231	51	one	one	NUM
fbem-31299	231	52	-	-	PUNCT
fbem-31299	231	53	period	period	NOUN
fbem-31299	231	54	lagged	lag	VERB
fbem-31299	231	55	regressions	regression	NOUN
fbem-31299	231	56	,	,	PUNCT
fbem-31299	231	57	and	and	CCONJ
fbem-31299	231	58	applying	apply	VERB
fbem-31299	231	59	industry	industry	NOUN
fbem-31299	231	60	fixed	fix	VERB
fbem-31299	231	61	effects	effect	NOUN
fbem-31299	231	62	to	to	PART
fbem-31299	231	63	verify	verify	VERB
fbem-31299	231	64	the	the	DET
fbem-31299	231	65	reliability	reliability	NOUN
fbem-31299	231	66	of	of	ADP
fbem-31299	231	67	the	the	DET
fbem-31299	231	68	core	core	NOUN
fbem-31299	231	69	findings	finding	NOUN
fbem-31299	231	70	.	.	PUNCT
fbem-31299	232	1	the	the	DET
fbem-31299	232	2	coefficient	coefficient	NOUN
fbem-31299	232	3	for	for	ADP
fbem-31299	232	4	patient	patient	ADJ
fbem-31299	232	5	capital	capital	NOUN
fbem-31299	232	6	remained	remain	VERB
fbem-31299	232	7	significantly	significantly	ADV
fbem-31299	232	8	positive	positive	ADJ
fbem-31299	232	9	across	across	ADP
fbem-31299	232	10	different	different	ADJ
fbem-31299	232	11	models	model	NOUN
fbem-31299	232	12	,	,	PUNCT
fbem-31299	232	13	and	and	CCONJ
fbem-31299	232	14	the	the	DET
fbem-31299	232	15	signs	sign	NOUN
fbem-31299	232	16	and	and	CCONJ
fbem-31299	232	17	significance	significance	NOUN
fbem-31299	232	18	of	of	ADP
fbem-31299	232	19	the	the	DET
fbem-31299	232	20	control	control	NOUN
fbem-31299	232	21	variables	variable	NOUN
fbem-31299	232	22	showed	show	VERB
fbem-31299	232	23	no	no	DET
fbem-31299	232	24	substantial	substantial	ADJ
fbem-31299	232	25	changes	change	NOUN
fbem-31299	232	26	.	.	PUNCT
fbem-31299	233	1	this	this	PRON
fbem-31299	233	2	indicates	indicate	VERB
fbem-31299	233	3	that	that	SCONJ
fbem-31299	233	4	the	the	DET
fbem-31299	233	5	research	research	NOUN
fbem-31299	233	6	results	result	NOUN
fbem-31299	233	7	exhibit	exhibit	VERB
fbem-31299	233	8	strong	strong	ADJ
fbem-31299	233	9	robustness	robustness	NOUN
fbem-31299	233	10	with	with	ADP
fbem-31299	233	11	respect	respect	NOUN
fbem-31299	233	12	to	to	ADP
fbem-31299	233	13	model	model	NOUN
fbem-31299	233	14	specifications	specification	NOUN
fbem-31299	233	15	and	and	CCONJ
fbem-31299	233	16	variable	variable	ADJ
fbem-31299	233	17	definitions	definition	NOUN
fbem-31299	233	18	.	.	PUNCT
fbem-31299	234	1	112	112	NUM
fbem-31299	234	2	table	table	NOUN
fbem-31299	234	3	8	8	NUM
fbem-31299	234	4	.	.	PUNCT
fbem-31299	235	1	robustness	robustness	NOUN
fbem-31299	235	2	tests	test	NOUN
fbem-31299	235	3	robust	robust	ADJ
fbem-31299	235	4	standard	standard	ADJ
fbem-31299	235	5	errors	error	NOUN
fbem-31299	235	6	res	re	NOUN
fbem-31299	235	7	alternative	alternative	ADJ
fbem-31299	235	8	explanatory	explanatory	ADJ
fbem-31299	235	9	variable	variable	ADJ
fbem-31299	235	10	res	re	NOUN
fbem-31299	235	11	lagged	lag	VERB
fbem-31299	235	12	1	1	NUM
fbem-31299	235	13	-	-	PUNCT
fbem-31299	235	14	year	year	NOUN
fbem-31299	235	15	res	re	NOUN
fbem-31299	235	16	industry	industry	NOUN
fbem-31299	235	17	fixed	fix	VERB
fbem-31299	235	18	effects	effect	NOUN
fbem-31299	235	19	res	re	NOUN
fbem-31299	235	20	invest	invest	VERB
fbem-31299	235	21	0.0103	0.0103	NUM
fbem-31299	235	22	*	*	NOUN
fbem-31299	235	23	*	*	PUNCT
fbem-31299	235	24	*	*	PUNCT
fbem-31299	235	25	0.0133	0.0133	NUM
fbem-31299	235	26	*	*	PUNCT
fbem-31299	235	27	*	*	PUNCT
fbem-31299	235	28	*	*	PUNCT
fbem-31299	236	1	0.00966	0.00966	NUM
fbem-31299	236	2	*	*	PUNCT
fbem-31299	236	3	*	*	PUNCT
fbem-31299	236	4	*	*	PUNCT
fbem-31299	236	5	(	(	PUNCT
fbem-31299	236	6	4.69	4.69	NUM
fbem-31299	236	7	)	)	PUNCT
fbem-31299	236	8	(	(	PUNCT
fbem-31299	236	9	4.30	4.30	NUM
fbem-31299	236	10	)	)	PUNCT
fbem-31299	236	11	(	(	PUNCT
fbem-31299	236	12	3.67	3.67	NUM
fbem-31299	236	13	)	)	PUNCT
fbem-31299	236	14	rdebt	rdebt	VERB
fbem-31299	236	15	0.00388	0.00388	NUM
fbem-31299	236	16	*	*	PUNCT
fbem-31299	236	17	*	*	PUNCT
fbem-31299	236	18	*	*	PUNCT
fbem-31299	236	19	(	(	PUNCT
fbem-31299	236	20	3.15	3.15	NUM
fbem-31299	236	21	)	)	PUNCT
fbem-31299	236	22	current	current	ADJ
fbem-31299	236	23	0.0000587	0.0000587	NUM
fbem-31299	236	24	0.0000153	0.0000153	NUM
fbem-31299	236	25	0.0000247	0.0000247	NUM
fbem-31299	236	26	0.0000553	0.0000553	NUM
fbem-31299	236	27	(	(	PUNCT
fbem-31299	236	28	1.39	1.39	NUM
fbem-31299	236	29	)	)	PUNCT
fbem-31299	236	30	(	(	PUNCT
fbem-31299	236	31	0.12	0.12	NUM
fbem-31299	236	32	)	)	PUNCT
fbem-31299	236	33	(	(	PUNCT
fbem-31299	236	34	0.13	0.13	NUM
fbem-31299	236	35	)	)	PUNCT
fbem-31299	236	36	(	(	PUNCT
fbem-31299	236	37	0.43	0.43	NUM
fbem-31299	236	38	)	)	PUNCT
fbem-31299	236	39	lev	lev	NOUN
fbem-31299	236	40	0.0103	0.0103	NUM
fbem-31299	236	41	*	*	PUNCT
fbem-31299	236	42	*	*	PUNCT
fbem-31299	236	43	*	*	PUNCT
fbem-31299	236	44	0.00937	0.00937	PUNCT
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fbem-31299	236	47	*	*	PUNCT
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fbem-31299	236	50	*	*	PUNCT
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fbem-31299	236	52	*	*	PUNCT
fbem-31299	236	53	(	(	PUNCT
fbem-31299	236	54	5.76	5.76	NUM
fbem-31299	236	55	)	)	PUNCT
fbem-31299	236	56	(	(	PUNCT
fbem-31299	236	57	3.94	3.94	NUM
fbem-31299	236	58	)	)	PUNCT
fbem-31299	236	59	(	(	PUNCT
fbem-31299	236	60	0.98	0.98	NUM
fbem-31299	236	61	)	)	PUNCT
fbem-31299	236	62	(	(	PUNCT
fbem-31299	236	63	4.35	4.35	NUM
fbem-31299	236	64	)	)	PUNCT
fbem-31299	236	65	roa	roa	NOUN
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fbem-31299	236	67	*	*	PUNCT
fbem-31299	236	68	*	*	PUNCT
fbem-31299	236	69	*	*	PUNCT
fbem-31299	236	70	0.0409	0.0409	PUNCT
fbem-31299	236	71	*	*	PUNCT
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fbem-31299	236	73	*	*	PUNCT
fbem-31299	237	1	0.0153	0.0153	NUM
fbem-31299	237	2	*	*	PUNCT
fbem-31299	237	3	*	*	PUNCT
fbem-31299	237	4	*	*	PUNCT
fbem-31299	237	5	0.0395	0.0395	NUM
fbem-31299	237	6	*	*	PUNCT
fbem-31299	237	7	*	*	PUNCT
fbem-31299	237	8	*	*	PUNCT
fbem-31299	237	9	(	(	PUNCT
fbem-31299	237	10	13.21	13.21	NUM
fbem-31299	237	11	)	)	PUNCT
fbem-31299	237	12	(	(	PUNCT
fbem-31299	237	13	11.22	11.22	NUM
fbem-31299	237	14	)	)	PUNCT
fbem-31299	237	15	(	(	PUNCT
fbem-31299	237	16	3.82	3.82	NUM
fbem-31299	237	17	)	)	PUNCT
fbem-31299	237	18	(	(	PUNCT
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fbem-31299	237	20	)	)	PUNCT
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fbem-31299	237	23	*	*	PUNCT
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fbem-31299	237	25	*	*	PUNCT
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fbem-31299	237	31	*	*	PUNCT
fbem-31299	237	32	(	(	PUNCT
fbem-31299	237	33	1.91	1.91	NUM
fbem-31299	237	34	)	)	PUNCT
fbem-31299	237	35	(	(	PUNCT
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fbem-31299	237	37	)	)	PUNCT
fbem-31299	237	38	(	(	PUNCT
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fbem-31299	237	40	)	)	PUNCT
fbem-31299	237	41	(	(	PUNCT
fbem-31299	237	42	1.91	1.91	NUM
fbem-31299	237	43	)	)	PUNCT
fbem-31299	237	44	tobinq	tobinq	PROPN
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fbem-31299	238	1	0.0000497	0.0000497	NUM
fbem-31299	238	2	-0.0000122	-0.0000122	NOUN
fbem-31299	238	3	0.00000948	0.00000948	NUM
fbem-31299	238	4	(	(	PUNCT
fbem-31299	238	5	-0.04	-0.04	NUM
fbem-31299	238	6	)	)	PUNCT
fbem-31299	238	7	(	(	PUNCT
fbem-31299	238	8	0.26	0.26	NUM
fbem-31299	238	9	)	)	PUNCT
fbem-31299	238	10	(	(	PUNCT
fbem-31299	238	11	-0.04	-0.04	NUM
fbem-31299	238	12	)	)	PUNCT
fbem-31299	238	13	(	(	PUNCT
fbem-31299	238	14	0.05	0.05	NUM
fbem-31299	238	15	)	)	PUNCT
fbem-31299	238	16	bm	bm	PROPN
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fbem-31299	238	18	-0.000000209	-0.000000209	VERB
fbem-31299	238	19	0.00000110	0.00000110	PUNCT
fbem-31299	238	20	*	*	PUNCT
fbem-31299	238	21	*	*	PUNCT
fbem-31299	238	22	*	*	PUNCT
fbem-31299	238	23	-0.000000117	-0.000000117	X
fbem-31299	238	24	(	(	PUNCT
fbem-31299	238	25	-0.06	-0.06	NUM
fbem-31299	238	26	)	)	PUNCT
fbem-31299	238	27	(	(	PUNCT
fbem-31299	238	28	-0.58	-0.58	NUM
fbem-31299	238	29	)	)	PUNCT
fbem-31299	238	30	(	(	PUNCT
fbem-31299	238	31	2.69	2.69	NUM
fbem-31299	238	32	)	)	PUNCT
fbem-31299	238	33	(	(	PUNCT
fbem-31299	238	34	-0.32	-0.32	VERB
fbem-31299	238	35	)	)	PUNCT
fbem-31299	238	36	der	der	NOUN
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fbem-31299	238	38	-0.0000137	-0.0000137	PROPN
fbem-31299	238	39	-0.0000122	-0.0000122	NOUN
fbem-31299	238	40	-0.0000154	-0.0000154	VERB
fbem-31299	238	41	(	(	PUNCT
fbem-31299	238	42	-1.21	-1.21	ADJ
fbem-31299	238	43	)	)	PUNCT
fbem-31299	238	44	(	(	PUNCT
fbem-31299	238	45	-0.38	-0.38	X
fbem-31299	238	46	)	)	PUNCT
fbem-31299	238	47	(	(	PUNCT
fbem-31299	238	48	-0.30	-0.30	X
fbem-31299	238	49	)	)	PUNCT
fbem-31299	238	50	(	(	PUNCT
fbem-31299	238	51	-0.42	-0.42	NUM
fbem-31299	238	52	)	)	PUNCT
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fbem-31299	238	55	0.000659	0.000659	NUM
fbem-31299	238	56	-0.000383	-0.000383	NOUN
fbem-31299	238	57	0.000258	0.000258	NUM
fbem-31299	238	58	(	(	PUNCT
fbem-31299	238	59	0.15	0.15	NUM
fbem-31299	238	60	)	)	PUNCT
fbem-31299	238	61	(	(	PUNCT
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fbem-31299	238	63	)	)	PUNCT
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fbem-31299	238	66	)	)	PUNCT
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fbem-31299	238	69	)	)	PUNCT
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fbem-31299	238	72	*	*	PUNCT
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fbem-31299	239	6	*	*	PUNCT
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fbem-31299	239	8	(	(	PUNCT
fbem-31299	239	9	-2.69	-2.69	NOUN
fbem-31299	239	10	)	)	PUNCT
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fbem-31299	239	16	)	)	PUNCT
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fbem-31299	239	19	)	)	PUNCT
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fbem-31299	239	25	(	(	PUNCT
fbem-31299	239	26	1.45	1.45	NUM
fbem-31299	239	27	)	)	PUNCT
fbem-31299	239	28	(	(	PUNCT
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fbem-31299	239	30	)	)	PUNCT
fbem-31299	239	31	(	(	PUNCT
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fbem-31299	239	33	)	)	PUNCT
fbem-31299	239	34	(	(	PUNCT
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fbem-31299	239	36	)	)	PUNCT
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fbem-31299	239	39	-0.00192	-0.00192	PROPN
fbem-31299	240	1	-0.00419	-0.00419	PROPN
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fbem-31299	241	1	(	(	PUNCT
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fbem-31299	241	3	)	)	PUNCT
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fbem-31299	241	6	)	)	PUNCT
fbem-31299	241	7	(	(	PUNCT
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fbem-31299	241	9	)	)	PUNCT
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fbem-31299	241	12	)	)	PUNCT
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fbem-31299	241	17	0.000704	0.000704	NUM
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fbem-31299	241	19	(	(	PUNCT
fbem-31299	241	20	1.71	1.71	NUM
fbem-31299	241	21	)	)	PUNCT
fbem-31299	241	22	(	(	PUNCT
fbem-31299	241	23	1.30	1.30	NUM
fbem-31299	241	24	)	)	PUNCT
fbem-31299	241	25	(	(	PUNCT
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fbem-31299	241	27	)	)	PUNCT
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fbem-31299	241	30	)	)	PUNCT
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fbem-31299	241	36	0.00514	0.00514	NUM
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fbem-31299	241	38	(	(	PUNCT
fbem-31299	241	39	0.23	0.23	NUM
fbem-31299	241	40	)	)	PUNCT
fbem-31299	241	41	(	(	PUNCT
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fbem-31299	241	43	)	)	PUNCT
fbem-31299	241	44	(	(	PUNCT
fbem-31299	241	45	0.87	0.87	NUM
fbem-31299	241	46	)	)	PUNCT
fbem-31299	241	47	(	(	PUNCT
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fbem-31299	241	49	)	)	PUNCT
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fbem-31299	241	52	-0.00182	-0.00182	PROPN
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fbem-31299	241	57	*	*	PUNCT
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fbem-31299	241	59	(	(	PUNCT
fbem-31299	241	60	-1.25	-1.25	NUM
fbem-31299	241	61	)	)	PUNCT
fbem-31299	241	62	(	(	PUNCT
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fbem-31299	241	64	)	)	PUNCT
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fbem-31299	241	67	)	)	PUNCT
fbem-31299	241	68	(	(	PUNCT
fbem-31299	241	69	-1.01	-1.01	X
fbem-31299	241	70	)	)	PUNCT
fbem-31299	241	71	_	_	NOUN
fbem-31299	241	72	cons	con	NOUN
fbem-31299	241	73	0.291	0.291	NUM
fbem-31299	241	74	*	*	PUNCT
fbem-31299	241	75	*	*	PUNCT
fbem-31299	241	76	*	*	PUNCT
fbem-31299	241	77	0.293	0.293	NUM
fbem-31299	241	78	*	*	PUNCT
fbem-31299	241	79	*	*	PUNCT
fbem-31299	241	80	*	*	PUNCT
fbem-31299	241	81	0.295	0.295	NUM
fbem-31299	241	82	*	*	PUNCT
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fbem-31299	241	84	*	*	PUNCT
fbem-31299	241	85	0.291	0.291	NUM
fbem-31299	241	86	*	*	PUNCT
fbem-31299	241	87	*	*	PUNCT
fbem-31299	241	88	*	*	PUNCT
fbem-31299	241	89	(	(	PUNCT
fbem-31299	241	90	47.52	47.52	NUM
fbem-31299	241	91	)	)	PUNCT
fbem-31299	241	92	(	(	PUNCT
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fbem-31299	241	94	)	)	PUNCT
fbem-31299	241	95	(	(	PUNCT
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fbem-31299	241	97	)	)	PUNCT
fbem-31299	241	98	(	(	PUNCT
fbem-31299	241	99	56.31	56.31	NUM
fbem-31299	241	100	)	)	PUNCT
fbem-31299	241	101	firm	firm	NOUN
fbem-31299	242	1	yes	yes	INTJ
fbem-31299	242	2	yes	yes	INTJ
fbem-31299	243	1	yes	yes	INTJ
fbem-31299	244	1	yes	yes	INTJ
fbem-31299	244	2	year	year	NOUN
fbem-31299	245	1	yes	yes	INTJ
fbem-31299	245	2	yes	yes	INTJ
fbem-31299	246	1	yes	yes	INTJ
fbem-31299	246	2	yes	yes	INTJ
fbem-31299	246	3	industry	industry	NOUN
fbem-31299	247	1	yes	yes	INTJ
fbem-31299	247	2	n	n	CCONJ
fbem-31299	247	3	9926	9926	NUM
fbem-31299	247	4	9926	9926	NUM
fbem-31299	247	5	8319	8319	NUM
fbem-31299	247	6	9926	9926	NUM
fbem-31299	247	7	f	f	NOUN
fbem-31299	247	8	16	16	NUM
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fbem-31299	247	14	*	*	PUNCT
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fbem-31299	247	16	4	4	NUM
fbem-31299	247	17	*	*	PUNCT
fbem-31299	247	18	*	*	PUNCT
fbem-31299	247	19	*	*	PUNCT
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fbem-31299	247	21	*	*	PUNCT
fbem-31299	247	22	*	*	PUNCT
fbem-31299	247	23	*	*	PUNCT
fbem-31299	247	24	r2	r2	PROPN
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fbem-31299	247	26	0.435	0.435	NUM
fbem-31299	247	27	0.432	0.432	NUM
fbem-31299	247	28	0.441	0.441	NUM
fbem-31299	247	29	r2_a	r2_a	NOUN
fbem-31299	247	30	0.353	0.353	NUM
fbem-31299	247	31	0.353	0.353	NUM
fbem-31299	247	32	0.333	0.333	NUM
fbem-31299	247	33	0.358	0.358	NUM
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fbem-31299	247	37	parentheses	parenthesis	NOUN
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fbem-31299	247	40	<	<	X
fbem-31299	247	41	0.1	0.1	NUM
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fbem-31299	247	43	*	*	PUNCT
fbem-31299	247	44	*	*	PUNCT
fbem-31299	248	1	p	p	X
fbem-31299	248	2	<	<	X
fbem-31299	248	3	0.05	0.05	NUM
fbem-31299	248	4	,	,	PUNCT
fbem-31299	248	5	*	*	PUNCT
fbem-31299	248	6	*	*	PUNCT
fbem-31299	248	7	*	*	PUNCT
fbem-31299	249	1	p	p	X
fbem-31299	249	2	<	<	X
fbem-31299	249	3	0.01	0.01	NUM
fbem-31299	249	4	5	5	NUM
fbem-31299	249	5	.	.	PUNCT
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fbem-31299	249	7	tests	test	NOUN
fbem-31299	249	8	and	and	CCONJ
fbem-31299	249	9	heterogeneity	heterogeneity	NOUN
fbem-31299	249	10	analysis	analysis	NOUN
fbem-31299	249	11	5.1	5.1	NUM
fbem-31299	249	12	.	.	PUNCT
fbem-31299	250	1	mediation	mediation	NOUN
fbem-31299	250	2	effects	effect	NOUN
fbem-31299	250	3	the	the	DET
fbem-31299	250	4	mediation	mediation	NOUN
fbem-31299	250	5	test	test	NOUN
fbem-31299	250	6	results	result	NOUN
fbem-31299	250	7	in	in	ADP
fbem-31299	250	8	table	table	NOUN
fbem-31299	250	9	6	6	NUM
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fbem-31299	250	11	reveal	reveal	VERB
fbem-31299	250	12	the	the	DET
fbem-31299	250	13	intrinsic	intrinsic	ADJ
fbem-31299	250	14	mechanisms	mechanism	NOUN
fbem-31299	250	15	through	through	ADP
fbem-31299	250	16	which	which	PRON
fbem-31299	250	17	patient	patient	ADJ
fbem-31299	250	18	capital	capital	NOUN
fbem-31299	250	19	enhances	enhance	VERB
fbem-31299	250	20	enterprise	enterprise	NOUN
fbem-31299	250	21	resilience	resilience	NOUN
fbem-31299	250	22	.	.	PUNCT
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fbem-31299	251	2	study	study	NOUN
fbem-31299	251	3	finds	find	VERB
fbem-31299	251	4	that	that	SCONJ
fbem-31299	251	5	patient	patient	ADJ
fbem-31299	251	6	capital	capital	NOUN
fbem-31299	251	7	strengthens	strengthen	VERB
fbem-31299	251	8	resilience	resilience	NOUN
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fbem-31299	251	10	two	two	NUM
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fbem-31299	251	12	pathways	pathway	NOUN
fbem-31299	251	13	:	:	PUNCT
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fbem-31299	251	16	efficiency	efficiency	NOUN
fbem-31299	251	17	improvement	improvement	NOUN
fbem-31299	251	18	"	"	PUNCT
fbem-31299	251	19	and	and	CCONJ
fbem-31299	251	20	"	"	PUNCT
fbem-31299	251	21	financing	financing	NOUN
fbem-31299	251	22	constraint	constraint	NOUN
fbem-31299	251	23	alleviation	alleviation	NOUN
fbem-31299	251	24	,	,	PUNCT
fbem-31299	251	25	"	"	PUNCT
fbem-31299	251	26	with	with	ADP
fbem-31299	251	27	each	each	DET
fbem-31299	251	28	pathway	pathway	NOUN
fbem-31299	251	29	contributing	contribute	VERB
fbem-31299	251	30	over	over	ADP
fbem-31299	251	31	30	30	NUM
fbem-31299	251	32	%	%	NOUN
fbem-31299	251	33	of	of	ADP
fbem-31299	251	34	the	the	DET
fbem-31299	251	35	mediation	mediation	NOUN
fbem-31299	251	36	effect	effect	NOUN
fbem-31299	251	37	.	.	PUNCT
fbem-31299	252	1	innovation	innovation	NOUN
fbem-31299	252	2	pathway	pathway	NOUN
fbem-31299	252	3	:	:	PUNCT
fbem-31299	252	4	patient	patient	ADJ
fbem-31299	252	5	capital	capital	NOUN
fbem-31299	252	6	significantly	significantly	ADV
fbem-31299	252	7	improves	improve	VERB
fbem-31299	252	8	innovation	innovation	NOUN
fbem-31299	252	9	efficiency	efficiency	NOUN
fbem-31299	252	10	(	(	PUNCT
fbem-31299	252	11	β	β	X
fbem-31299	252	12	=	=	SYM
fbem-31299	252	13	0.682	0.682	NUM
fbem-31299	252	14	,	,	PUNCT
fbem-31299	252	15	t	t	NOUN
fbem-31299	252	16	=	=	NUM
fbem-31299	252	17	5.87	5.87	NUM
fbem-31299	252	18	)	)	PUNCT
fbem-31299	252	19	,	,	PUNCT
fbem-31299	252	20	consistent	consistent	ADJ
fbem-31299	252	21	with	with	ADP
fbem-31299	252	22	the	the	DET
fbem-31299	252	23	findings	finding	NOUN
fbem-31299	252	24	of	of	ADP
fbem-31299	252	25	jiang	jiang	PROPN
fbem-31299	252	26	zhongyu	zhongyu	PROPN
fbem-31299	253	1	[	[	X
fbem-31299	253	2	8	8	NUM
fbem-31299	253	3	]	]	PUNCT
fbem-31299	253	4	,	,	PUNCT
fbem-31299	253	5	indicating	indicate	VERB
fbem-31299	253	6	that	that	SCONJ
fbem-31299	253	7	long	long	ADJ
fbem-31299	253	8	-	-	PUNCT
fbem-31299	253	9	term	term	NOUN
fbem-31299	253	10	capital	capital	NOUN
fbem-31299	253	11	support	support	NOUN
fbem-31299	253	12	helps	help	VERB
fbem-31299	253	13	firms	firm	NOUN
fbem-31299	253	14	overcome	overcome	VERB
fbem-31299	253	15	the	the	DET
fbem-31299	253	16	"	"	PUNCT
fbem-31299	253	17	valley	valley	NOUN
fbem-31299	253	18	of	of	ADP
fbem-31299	253	19	death	death	NOUN
fbem-31299	253	20	"	"	PUNCT
fbem-31299	253	21	in	in	ADP
fbem-31299	253	22	r&d	r&d	NOUN
fbem-31299	253	23	activities	activity	NOUN
fbem-31299	253	24	.	.	PUNCT
fbem-31299	254	1	financing	finance	VERB
fbem-31299	254	2	pathway	pathway	NOUN
fbem-31299	254	3	:	:	PUNCT
fbem-31299	254	4	patient	patient	ADJ
fbem-31299	254	5	capital	capital	NOUN
fbem-31299	254	6	effectively	effectively	ADV
fbem-31299	254	7	alleviates	alleviate	VERB
fbem-31299	254	8	financing	financing	NOUN
fbem-31299	254	9	constraints	constraint	NOUN
fbem-31299	254	10	(	(	PUNCT
fbem-31299	254	11	β	β	X
fbem-31299	254	12	=	=	SYM
fbem-31299	254	13	-0.0462	-0.0462	PROPN
fbem-31299	254	14	,	,	PUNCT
fbem-31299	254	15	t	t	PROPN
fbem-31299	254	16	=	=	SYM
fbem-31299	254	17	-10.69	-10.69	PROPN
fbem-31299	254	18	)	)	PUNCT
fbem-31299	254	19	,	,	PUNCT
fbem-31299	254	20	validating	validate	VERB
fbem-31299	254	21	the	the	DET
fbem-31299	254	22	theoretical	theoretical	ADJ
fbem-31299	254	23	expectations	expectation	NOUN
fbem-31299	254	24	of	of	ADP
fbem-31299	254	25	lin	lin	PROPN
fbem-31299	254	26	yifu	yifu	PROPN
fbem-31299	254	27	and	and	CCONJ
fbem-31299	254	28	wang	wang	PROPN
fbem-31299	254	29	yan	yan	PROPN
fbem-31299	255	1	[	[	X
fbem-31299	255	2	1	1	X
fbem-31299	255	3	]	]	PUNCT
fbem-31299	255	4	regarding	regard	VERB
fbem-31299	255	5	the	the	DET
fbem-31299	255	6	relationship	relationship	NOUN
fbem-31299	255	7	between	between	ADP
fbem-31299	255	8	capital	capital	NOUN
fbem-31299	255	9	maturity	maturity	NOUN
fbem-31299	255	10	structure	structure	NOUN
fbem-31299	255	11	and	and	CCONJ
fbem-31299	255	12	financing	financing	NOUN
fbem-31299	255	13	costs	cost	NOUN
fbem-31299	255	14	.	.	PUNCT
fbem-31299	256	1	notably	notably	ADV
fbem-31299	256	2	,	,	PUNCT
fbem-31299	256	3	even	even	ADV
fbem-31299	256	4	after	after	ADP
fbem-31299	256	5	controlling	control	VERB
fbem-31299	256	6	for	for	ADP
fbem-31299	256	7	these	these	DET
fbem-31299	256	8	mediators	mediator	NOUN
fbem-31299	256	9	,	,	PUNCT
fbem-31299	256	10	the	the	DET
fbem-31299	256	11	direct	direct	ADJ
fbem-31299	256	12	effect	effect	NOUN
fbem-31299	256	13	of	of	ADP
fbem-31299	256	14	patient	patient	ADJ
fbem-31299	256	15	capital	capital	NOUN
fbem-31299	256	16	remains	remain	VERB
fbem-31299	256	17	significant	significant	ADJ
fbem-31299	256	18	,	,	PUNCT
fbem-31299	256	19	suggesting	suggest	VERB
fbem-31299	256	20	the	the	DET
fbem-31299	256	21	existence	existence	NOUN
fbem-31299	256	22	of	of	ADP
fbem-31299	256	23	other	other	ADJ
fbem-31299	256	24	unobserved	unobserved	ADJ
fbem-31299	256	25	mechanisms	mechanism	NOUN
fbem-31299	256	26	,	,	PUNCT
fbem-31299	256	27	which	which	PRON
fbem-31299	256	28	provides	provide	VERB
fbem-31299	256	29	direction	direction	NOUN
fbem-31299	256	30	for	for	ADP
fbem-31299	256	31	future	future	ADJ
fbem-31299	256	32	research	research	NOUN
fbem-31299	256	33	.	.	PUNCT
fbem-31299	257	1	these	these	DET
fbem-31299	257	2	findings	finding	NOUN
fbem-31299	257	3	offer	offer	VERB
fbem-31299	257	4	critical	critical	ADJ
fbem-31299	257	5	insights	insight	NOUN
fbem-31299	257	6	for	for	ADP
fbem-31299	257	7	practice	practice	NOUN
fbem-31299	257	8	:	:	PUNCT
fbem-31299	257	9	enterprises	enterprise	NOUN
fbem-31299	257	10	should	should	AUX
fbem-31299	257	11	integrate	integrate	VERB
fbem-31299	257	12	patient	patient	ADJ
fbem-31299	257	13	capital	capital	NOUN
fbem-31299	257	14	into	into	ADP
fbem-31299	257	15	innovation	innovation	NOUN
fbem-31299	257	16	management	management	NOUN
fbem-31299	257	17	systems	system	NOUN
fbem-31299	257	18	by	by	ADP
fbem-31299	257	19	establishing	establish	VERB
fbem-31299	257	20	dedicated	dedicated	ADJ
fbem-31299	257	21	long	long	ADJ
fbem-31299	257	22	-	-	PUNCT
fbem-31299	257	23	term	term	NOUN
fbem-31299	257	24	113	113	NUM
fbem-31299	257	25	r&d	r&d	NOUN
fbem-31299	257	26	funds	fund	NOUN
fbem-31299	257	27	.	.	PUNCT
fbem-31299	258	1	financial	financial	ADJ
fbem-31299	258	2	institutions	institution	NOUN
fbem-31299	258	3	can	can	AUX
fbem-31299	258	4	develop	develop	VERB
fbem-31299	258	5	targeted	target	VERB
fbem-31299	258	6	financing	financing	NOUN
fbem-31299	258	7	products	product	NOUN
fbem-31299	258	8	to	to	PART
fbem-31299	258	9	align	align	VERB
fbem-31299	258	10	capital	capital	NOUN
fbem-31299	258	11	maturity	maturity	NOUN
fbem-31299	258	12	with	with	ADP
fbem-31299	258	13	firms	firm	NOUN
fbem-31299	258	14	'	'	PART
fbem-31299	258	15	innovation	innovation	NOUN
fbem-31299	258	16	cycles	cycle	NOUN
fbem-31299	258	17	.	.	PUNCT
fbem-31299	259	1	policymakers	policymaker	NOUN
fbem-31299	259	2	should	should	AUX
fbem-31299	259	3	enhance	enhance	VERB
fbem-31299	259	4	innovation	innovation	NOUN
fbem-31299	259	5	infrastructure	infrastructure	NOUN
fbem-31299	259	6	and	and	CCONJ
fbem-31299	259	7	reduce	reduce	VERB
fbem-31299	259	8	technology	technology	NOUN
fbem-31299	259	9	transfer	transfer	NOUN
fbem-31299	259	10	costs	cost	NOUN
fbem-31299	259	11	to	to	PART
fbem-31299	259	12	maximize	maximize	VERB
fbem-31299	259	13	the	the	DET
fbem-31299	259	14	effectiveness	effectiveness	NOUN
fbem-31299	259	15	of	of	ADP
fbem-31299	259	16	patient	patient	ADJ
fbem-31299	259	17	capital	capital	NOUN
fbem-31299	259	18	.	.	PUNCT
fbem-31299	260	1	the	the	DET
fbem-31299	260	2	results	result	NOUN
fbem-31299	260	3	also	also	ADV
fbem-31299	260	4	resonate	resonate	VERB
fbem-31299	260	5	with	with	ADP
fbem-31299	260	6	dynamic	dynamic	ADJ
fbem-31299	260	7	capability	capability	NOUN
fbem-31299	260	8	theory	theory	NOUN
fbem-31299	260	9	,	,	PUNCT
fbem-31299	260	10	demonstrating	demonstrate	VERB
fbem-31299	260	11	that	that	SCONJ
fbem-31299	260	12	enterprise	enterprise	NOUN
fbem-31299	260	13	resilience	resilience	NOUN
fbem-31299	260	14	requires	require	VERB
fbem-31299	260	15	synergistic	synergistic	ADJ
fbem-31299	260	16	coordination	coordination	NOUN
fbem-31299	260	17	between	between	ADP
fbem-31299	260	18	capital	capital	NOUN
fbem-31299	260	19	support	support	NOUN
fbem-31299	260	20	and	and	CCONJ
fbem-31299	260	21	capability	capability	NOUN
fbem-31299	260	22	-	-	PUNCT
fbem-31299	260	23	building	building	NOUN
fbem-31299	260	24	.	.	PUNCT
fbem-31299	261	1	table	table	NOUN
fbem-31299	261	2	9	9	NUM
fbem-31299	261	3	.	.	PUNCT
fbem-31299	262	1	mediation	mediation	NOUN
fbem-31299	262	2	effect	effect	NOUN
fbem-31299	262	3	test	test	NOUN
fbem-31299	262	4	of	of	ADP
fbem-31299	262	5	patient	patient	ADJ
fbem-31299	262	6	capital	capital	NOUN
fbem-31299	262	7	on	on	ADP
fbem-31299	262	8	enterprise	enterprise	NOUN
fbem-31299	262	9	resilience	resilience	NOUN
fbem-31299	262	10	ie	ie	X
fbem-31299	262	11	res	res	PROPN
fbem-31299	262	12	fc	fc	PROPN
fbem-31299	262	13	res	re	NOUN
fbem-31299	262	14	invest	invest	VERB
fbem-31299	262	15	0.682	0.682	NUM
fbem-31299	262	16	*	*	PUNCT
fbem-31299	262	17	*	*	PUNCT
fbem-31299	262	18	*	*	PUNCT
fbem-31299	262	19	0.00940	0.00940	NUM
fbem-31299	262	20	*	*	PUNCT
fbem-31299	262	21	*	*	PUNCT
fbem-31299	262	22	*	*	PUNCT
fbem-31299	262	23	-0.0462	-0.0462	NOUN
fbem-31299	263	1	*	*	PUNCT
fbem-31299	264	1	*	*	PUNCT
fbem-31299	264	2	*	*	PUNCT
fbem-31299	264	3	0.00693	0.00693	NUM
fbem-31299	264	4	*	*	PUNCT
fbem-31299	264	5	*	*	PUNCT
fbem-31299	264	6	*	*	PUNCT
fbem-31299	264	7	(	(	PUNCT
fbem-31299	264	8	5.87	5.87	NUM
fbem-31299	264	9	)	)	PUNCT
fbem-31299	264	10	(	(	PUNCT
fbem-31299	264	11	3.62	3.62	NUM
fbem-31299	264	12	)	)	PUNCT
fbem-31299	264	13	(	(	PUNCT
fbem-31299	264	14	-10.69	-10.69	NUM
fbem-31299	264	15	)	)	PUNCT
fbem-31299	264	16	(	(	PUNCT
fbem-31299	264	17	2.67	2.67	NUM
fbem-31299	264	18	)	)	PUNCT
fbem-31299	264	19	ie	ie	ADV
fbem-31299	264	20	0.00126	0.00126	NUM
fbem-31299	264	21	*	*	PUNCT
fbem-31299	264	22	*	*	PUNCT
fbem-31299	264	23	*	*	PUNCT
fbem-31299	264	24	(	(	PUNCT
fbem-31299	264	25	5.25	5.25	NUM
fbem-31299	264	26	)	)	PUNCT
fbem-31299	264	27	fc	fc	PROPN
fbem-31299	264	28	-0.0720	-0.0720	PROPN
fbem-31299	265	1	*	*	PUNCT
fbem-31299	265	2	*	*	PUNCT
fbem-31299	265	3	*	*	PUNCT
fbem-31299	265	4	(	(	PUNCT
fbem-31299	265	5	-11.24	-11.24	PROPN
fbem-31299	265	6	)	)	PUNCT
fbem-31299	265	7	current	current	ADJ
fbem-31299	265	8	-0.00128	-0.00128	NOUN
fbem-31299	265	9	0.0000604	0.0000604	NUM
fbem-31299	265	10	-0.000409	-0.000409	NOUN
fbem-31299	266	1	*	*	X
fbem-31299	266	2	0.0000293	0.0000293	NUM
fbem-31299	266	3	(	(	PUNCT
fbem-31299	266	4	-0.22	-0.22	NUM
fbem-31299	266	5	)	)	PUNCT
fbem-31299	266	6	(	(	PUNCT
fbem-31299	266	7	0.47	0.47	NUM
fbem-31299	266	8	)	)	PUNCT
fbem-31299	266	9	(	(	PUNCT
fbem-31299	266	10	-1.91	-1.91	NOUN
fbem-31299	266	11	)	)	PUNCT
fbem-31299	266	12	(	(	PUNCT
fbem-31299	266	13	0.23	0.23	NUM
fbem-31299	266	14	)	)	PUNCT
fbem-31299	266	15	lev	lev	NOUN
fbem-31299	266	16	0.127	0.127	NUM
fbem-31299	266	17	0.0101	0.0101	NUM
fbem-31299	266	18	*	*	PUNCT
fbem-31299	266	19	*	*	PUNCT
fbem-31299	266	20	*	*	PUNCT
fbem-31299	266	21	-0.0123	-0.0123	NOUN
fbem-31299	266	22	*	*	PUNCT
fbem-31299	266	23	*	*	PUNCT
fbem-31299	266	24	*	*	PUNCT
fbem-31299	266	25	0.00939	0.00939	NUM
fbem-31299	266	26	*	*	PUNCT
fbem-31299	266	27	*	*	PUNCT
fbem-31299	266	28	*	*	PUNCT
fbem-31299	266	29	(	(	PUNCT
fbem-31299	266	30	1.19	1.19	NUM
fbem-31299	266	31	)	)	PUNCT
fbem-31299	266	32	(	(	PUNCT
fbem-31299	266	33	4.26	4.26	NUM
fbem-31299	266	34	)	)	PUNCT
fbem-31299	266	35	(	(	PUNCT
fbem-31299	266	36	-3.10	-3.10	NOUN
fbem-31299	266	37	)	)	PUNCT
fbem-31299	266	38	(	(	PUNCT
fbem-31299	266	39	3.98	3.98	NUM
fbem-31299	266	40	)	)	PUNCT
fbem-31299	266	41	roa	roa	NOUN
fbem-31299	266	42	0.703	0.703	NOUN
fbem-31299	266	43	*	*	PUNCT
fbem-31299	266	44	*	*	PUNCT
fbem-31299	267	1	*	*	PUNCT
fbem-31299	267	2	0.0394	0.0394	NUM
fbem-31299	267	3	*	*	PUNCT
fbem-31299	267	4	*	*	PUNCT
fbem-31299	267	5	*	*	PUNCT
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fbem-31299	268	1	*	*	PUNCT
fbem-31299	268	2	*	*	PUNCT
fbem-31299	268	3	*	*	PUNCT
fbem-31299	269	1	0.0281	0.0281	NUM
fbem-31299	269	2	*	*	PUNCT
fbem-31299	269	3	*	*	PUNCT
fbem-31299	269	4	*	*	PUNCT
fbem-31299	269	5	(	(	PUNCT
fbem-31299	269	6	4.31	4.31	NUM
fbem-31299	269	7	)	)	PUNCT
fbem-31299	269	8	(	(	PUNCT
fbem-31299	269	9	10.81	10.81	NUM
fbem-31299	269	10	)	)	PUNCT
fbem-31299	269	11	(	(	PUNCT
fbem-31299	269	12	-27.82	-27.82	PROPN
fbem-31299	269	13	)	)	PUNCT
fbem-31299	269	14	(	(	PUNCT
fbem-31299	269	15	7.44	7.44	NUM
fbem-31299	269	16	)	)	PUNCT
fbem-31299	269	17	growth	growth	NOUN
fbem-31299	269	18	0.00234	0.00234	NUM
fbem-31299	269	19	0.0000786	0.0000786	NUM
fbem-31299	269	20	*	*	PUNCT
fbem-31299	269	21	-0.0349	-0.0349	NOUN
fbem-31299	269	22	*	*	PUNCT
fbem-31299	269	23	*	*	PUNCT
fbem-31299	269	24	*	*	PUNCT
fbem-31299	269	25	-0.00243	-0.00243	NOUN
fbem-31299	270	1	*	*	PUNCT
fbem-31299	271	1	*	*	PUNCT
fbem-31299	271	2	*	*	PUNCT
fbem-31299	271	3	(	(	PUNCT
fbem-31299	271	4	1.21	1.21	NUM
fbem-31299	271	5	)	)	PUNCT
fbem-31299	271	6	(	(	PUNCT
fbem-31299	271	7	1.82	1.82	NUM
fbem-31299	271	8	)	)	PUNCT
fbem-31299	271	9	(	(	PUNCT
fbem-31299	271	10	-483.88	-483.88	PROPN
fbem-31299	271	11	)	)	PUNCT
fbem-31299	271	12	(	(	PUNCT
fbem-31299	271	13	-10.68	-10.68	NOUN
fbem-31299	271	14	)	)	PUNCT
fbem-31299	271	15	tobinq	tobinq	NOUN
fbem-31299	271	16	-0.0502	-0.0502	PUNCT
fbem-31299	272	1	*	*	PUNCT
fbem-31299	273	1	*	*	PUNCT
fbem-31299	273	2	*	*	PUNCT
fbem-31299	273	3	0.0000596	0.0000596	NUM
fbem-31299	273	4	0.00377	0.00377	NUM
fbem-31299	273	5	*	*	PUNCT
fbem-31299	273	6	*	*	PUNCT
fbem-31299	273	7	*	*	PUNCT
fbem-31299	273	8	0.000268	0.000268	NUM
fbem-31299	273	9	(	(	PUNCT
fbem-31299	273	10	-5.95	-5.95	NOUN
fbem-31299	273	11	)	)	PUNCT
fbem-31299	273	12	(	(	PUNCT
fbem-31299	273	13	0.32	0.32	NUM
fbem-31299	273	14	)	)	PUNCT
fbem-31299	273	15	(	(	PUNCT
fbem-31299	273	16	12.02	12.02	NUM
fbem-31299	273	17	)	)	PUNCT
fbem-31299	273	18	(	(	PUNCT
fbem-31299	273	19	1.42	1.42	NUM
fbem-31299	273	20	)	)	PUNCT
fbem-31299	273	21	bm	bm	PROPN
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fbem-31299	274	2	*	*	PUNCT
fbem-31299	274	3	*	*	PUNCT
fbem-31299	274	4	-8.93e-08	-8.93e-08	NOUN
fbem-31299	274	5	-0.00000462	-0.00000462	NOUN
fbem-31299	274	6	*	*	PUNCT
fbem-31299	275	1	*	*	PUNCT
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fbem-31299	275	7	(	(	PUNCT
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fbem-31299	275	9	)	)	PUNCT
fbem-31299	275	10	(	(	PUNCT
fbem-31299	275	11	-7.63	-7.63	X
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fbem-31299	275	15	)	)	PUNCT
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fbem-31299	276	2	(	(	PUNCT
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fbem-31299	276	4	)	)	PUNCT
fbem-31299	276	5	(	(	PUNCT
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fbem-31299	276	7	)	)	PUNCT
fbem-31299	276	8	(	(	PUNCT
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fbem-31299	276	10	)	)	PUNCT
fbem-31299	276	11	(	(	PUNCT
fbem-31299	276	12	-0.39	-0.39	X
fbem-31299	276	13	)	)	PUNCT
fbem-31299	276	14	listage	listage	NOUN
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fbem-31299	276	16	0.000224	0.000224	NUM
fbem-31299	276	17	-0.00424	-0.00424	NOUN
fbem-31299	276	18	-0.0000240	-0.0000240	NOUN
fbem-31299	276	19	(	(	PUNCT
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fbem-31299	276	21	)	)	PUNCT
fbem-31299	276	22	(	(	PUNCT
fbem-31299	276	23	0.13	0.13	NUM
fbem-31299	276	24	)	)	PUNCT
fbem-31299	276	25	(	(	PUNCT
fbem-31299	276	26	-1.53	-1.53	X
fbem-31299	276	27	)	)	PUNCT
fbem-31299	276	28	(	(	PUNCT
fbem-31299	276	29	-0.01	-0.01	NUM
fbem-31299	276	30	)	)	PUNCT
fbem-31299	276	31	soe	soe	PROPN
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fbem-31299	276	33	-0.00267	-0.00267	NOUN
fbem-31299	276	34	*	*	PUNCT
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fbem-31299	277	4	(	(	PUNCT
fbem-31299	277	5	0.05	0.05	NUM
fbem-31299	277	6	)	)	PUNCT
fbem-31299	277	7	(	(	PUNCT
fbem-31299	277	8	-1.92	-1.92	NUM
fbem-31299	277	9	)	)	PUNCT
fbem-31299	277	10	(	(	PUNCT
fbem-31299	277	11	1.48	1.48	NUM
fbem-31299	277	12	)	)	PUNCT
fbem-31299	277	13	(	(	PUNCT
fbem-31299	277	14	-1.75	-1.75	NOUN
fbem-31299	277	15	)	)	PUNCT
fbem-31299	277	16	board	board	NOUN
fbem-31299	277	17	0.00557	0.00557	NUM
fbem-31299	277	18	0.00137	0.00137	NUM
fbem-31299	277	19	-0.00216	-0.00216	NOUN
fbem-31299	277	20	0.00122	0.00122	NUM
fbem-31299	277	21	(	(	PUNCT
fbem-31299	277	22	0.12	0.12	NUM
fbem-31299	277	23	)	)	PUNCT
fbem-31299	277	24	(	(	PUNCT
fbem-31299	277	25	1.29	1.29	NUM
fbem-31299	277	26	)	)	PUNCT
fbem-31299	277	27	(	(	PUNCT
fbem-31299	277	28	-1.21	-1.21	NOUN
fbem-31299	277	29	)	)	PUNCT
fbem-31299	277	30	(	(	PUNCT
fbem-31299	277	31	1.15	1.15	NUM
fbem-31299	277	32	)	)	PUNCT
fbem-31299	277	33	indep	indep	NOUN
fbem-31299	277	34	0.229	0.229	NUM
fbem-31299	277	35	-0.00188	-0.00188	ADJ
fbem-31299	277	36	-0.00432	-0.00432	NOUN
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fbem-31299	277	38	(	(	PUNCT
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fbem-31299	277	40	)	)	PUNCT
fbem-31299	277	41	(	(	PUNCT
fbem-31299	277	42	-0.59	-0.59	NUM
fbem-31299	277	43	)	)	PUNCT
fbem-31299	277	44	(	(	PUNCT
fbem-31299	277	45	-0.81	-0.81	NOUN
fbem-31299	277	46	)	)	PUNCT
fbem-31299	277	47	(	(	PUNCT
fbem-31299	277	48	-0.60	-0.60	NUM
fbem-31299	277	49	)	)	PUNCT
fbem-31299	277	50	dual	dual	ADJ
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fbem-31299	277	52	0.000816	0.000816	NUM
fbem-31299	277	53	-0.00276	-0.00276	NOUN
fbem-31299	277	54	*	*	PUNCT
fbem-31299	277	55	*	*	PUNCT
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fbem-31299	277	57	(	(	PUNCT
fbem-31299	277	58	1.61	1.61	NUM
fbem-31299	277	59	)	)	PUNCT
fbem-31299	277	60	(	(	PUNCT
fbem-31299	277	61	1.20	1.20	NUM
fbem-31299	277	62	)	)	PUNCT
fbem-31299	277	63	(	(	PUNCT
fbem-31299	277	64	-2.45	-2.45	NUM
fbem-31299	277	65	)	)	PUNCT
fbem-31299	277	66	(	(	PUNCT
fbem-31299	277	67	1.01	1.01	NUM
fbem-31299	277	68	)	)	PUNCT
fbem-31299	277	69	herfindahl10	herfindahl10	NOUN
fbem-31299	277	70	-0.0740	-0.0740	NOUN
fbem-31299	278	1	0.00276	0.00276	NUM
fbem-31299	278	2	0.00773	0.00773	NUM
fbem-31299	278	3	0.00322	0.00322	NUM
fbem-31299	278	4	(	(	PUNCT
fbem-31299	278	5	-0.33	-0.33	ADJ
fbem-31299	278	6	)	)	PUNCT
fbem-31299	278	7	(	(	PUNCT
fbem-31299	278	8	0.55	0.55	NUM
fbem-31299	278	9	)	)	PUNCT
fbem-31299	278	10	(	(	PUNCT
fbem-31299	278	11	0.93	0.93	NUM
fbem-31299	278	12	)	)	PUNCT
fbem-31299	278	13	(	(	PUNCT
fbem-31299	278	14	0.65	0.65	NUM
fbem-31299	278	15	)	)	PUNCT
fbem-31299	278	16	mshare	mshare	NOUN
fbem-31299	278	17	-0.00140	-0.00140	NOUN
fbem-31299	278	18	-0.00176	-0.00176	NOUN
fbem-31299	278	19	*	*	PUNCT
fbem-31299	279	1	*	*	PUNCT
fbem-31299	279	2	*	*	X
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fbem-31299	279	5	*	*	PUNCT
fbem-31299	279	6	*	*	PUNCT
fbem-31299	279	7	(	(	PUNCT
fbem-31299	279	8	-0.05	-0.05	NUM
fbem-31299	279	9	)	)	PUNCT
fbem-31299	279	10	(	(	PUNCT
fbem-31299	279	11	-2.61	-2.61	NOUN
fbem-31299	279	12	)	)	PUNCT
fbem-31299	279	13	(	(	PUNCT
fbem-31299	279	14	1.54	1.54	NUM
fbem-31299	279	15	)	)	PUNCT
fbem-31299	279	16	(	(	PUNCT
fbem-31299	279	17	-2.44	-2.44	NOUN
fbem-31299	279	18	)	)	PUNCT
fbem-31299	279	19	_	_	NOUN
fbem-31299	279	20	cons	con	VERB
fbem-31299	279	21	2.930	2.930	NUM
fbem-31299	279	22	*	*	PUNCT
fbem-31299	279	23	*	*	PUNCT
fbem-31299	279	24	*	*	PUNCT
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fbem-31299	279	26	*	*	PUNCT
fbem-31299	279	27	*	*	PUNCT
fbem-31299	279	28	*	*	PUNCT
fbem-31299	279	29	-0.985	-0.985	PUNCT
fbem-31299	279	30	*	*	PUNCT
fbem-31299	279	31	*	*	PUNCT
fbem-31299	279	32	*	*	PUNCT
fbem-31299	279	33	0.220	0.220	NUM
fbem-31299	279	34	*	*	PUNCT
fbem-31299	279	35	*	*	PUNCT
fbem-31299	279	36	*	*	PUNCT
fbem-31299	279	37	(	(	PUNCT
fbem-31299	279	38	12.69	12.69	NUM
fbem-31299	279	39	)	)	PUNCT
fbem-31299	279	40	(	(	PUNCT
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fbem-31299	279	42	)	)	PUNCT
fbem-31299	279	43	(	(	PUNCT
fbem-31299	279	44	-114.69	-114.69	NOUN
fbem-31299	279	45	)	)	PUNCT
fbem-31299	279	46	(	(	PUNCT
fbem-31299	279	47	27.11	27.11	NUM
fbem-31299	279	48	)	)	PUNCT
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fbem-31299	280	1	yes	yes	INTJ
fbem-31299	280	2	yes	yes	INTJ
fbem-31299	281	1	yes	yes	INTJ
fbem-31299	282	1	yes	yes	INTJ
fbem-31299	282	2	year	year	NOUN
fbem-31299	283	1	yes	yes	INTJ
fbem-31299	283	2	yes	yes	INTJ
fbem-31299	284	1	yes	yes	INTJ
fbem-31299	285	1	yes	yes	INTJ
fbem-31299	285	2	n	n	PRON
fbem-31299	285	3	9926	9926	NUM
fbem-31299	285	4	9926	9926	NUM
fbem-31299	285	5	9926	9926	NUM
fbem-31299	285	6	9926	9926	NUM
fbem-31299	285	7	f	f	PROPN
fbem-31299	285	8	7	7	NUM
fbem-31299	286	1	*	*	PUNCT
fbem-31299	286	2	*	*	PUNCT
fbem-31299	286	3	*	*	PUNCT
fbem-31299	286	4	13	13	NUM
fbem-31299	286	5	*	*	PUNCT
fbem-31299	286	6	*	*	PUNCT
fbem-31299	286	7	*	*	NOUN
fbem-31299	286	8	15942	15942	NUM
fbem-31299	286	9	*	*	PUNCT
fbem-31299	286	10	*	*	PUNCT
fbem-31299	286	11	*	*	PUNCT
fbem-31299	286	12	19	19	NUM
fbem-31299	286	13	*	*	PUNCT
fbem-31299	286	14	*	*	PUNCT
fbem-31299	286	15	*	*	PUNCT
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fbem-31299	286	18	0.437	0.437	NUM
fbem-31299	286	19	0.974	0.974	NUM
fbem-31299	286	20	0.444	0.444	NUM
fbem-31299	286	21	r2_a	r2_a	NOUN
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fbem-31299	286	23	0.355	0.355	NUM
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fbem-31299	286	26	t	t	NOUN
fbem-31299	286	27	statistics	statistic	NOUN
fbem-31299	286	28	in	in	ADP
fbem-31299	286	29	parentheses	parenthesis	NOUN
fbem-31299	286	30	*	*	PUNCT
fbem-31299	287	1	p	p	X
fbem-31299	287	2	<	<	X
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fbem-31299	287	6	*	*	PUNCT
fbem-31299	288	1	p	p	X
fbem-31299	288	2	<	<	X
fbem-31299	288	3	0.05	0.05	NUM
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fbem-31299	288	5	*	*	PUNCT
fbem-31299	288	6	*	*	PUNCT
fbem-31299	288	7	*	*	PUNCT
fbem-31299	289	1	p	p	X
fbem-31299	289	2	<	<	X
fbem-31299	289	3	0.01	0.01	NUM
fbem-31299	289	4	5.2	5.2	NUM
fbem-31299	289	5	.	.	PUNCT
fbem-31299	290	1	moderating	moderate	VERB
fbem-31299	290	2	effects	effect	NOUN
fbem-31299	290	3	the	the	DET
fbem-31299	290	4	moderating	moderate	VERB
fbem-31299	290	5	effect	effect	NOUN
fbem-31299	290	6	analysis	analysis	NOUN
fbem-31299	290	7	reveals	reveal	VERB
fbem-31299	290	8	the	the	DET
fbem-31299	290	9	critical	critical	ADJ
fbem-31299	290	10	role	role	NOUN
fbem-31299	290	11	of	of	ADP
fbem-31299	290	12	corporate	corporate	ADJ
fbem-31299	290	13	governance	governance	NOUN
fbem-31299	290	14	quality	quality	NOUN
fbem-31299	290	15	in	in	ADP
fbem-31299	290	16	the	the	DET
fbem-31299	290	17	effectiveness	effectiveness	NOUN
fbem-31299	290	18	of	of	ADP
fbem-31299	290	19	patient	patient	ADJ
fbem-31299	290	20	capital	capital	NOUN
fbem-31299	290	21	.	.	PUNCT
fbem-31299	291	1	the	the	DET
fbem-31299	291	2	results	result	NOUN
fbem-31299	291	3	show	show	VERB
fbem-31299	291	4	that	that	SCONJ
fbem-31299	291	5	the	the	DET
fbem-31299	291	6	interaction	interaction	NOUN
fbem-31299	291	7	term	term	NOUN
fbem-31299	291	8	between	between	ADP
fbem-31299	291	9	first	first	ADJ
fbem-31299	291	10	-	-	PUNCT
fbem-31299	291	11	tier	tier	NOUN
fbem-31299	291	12	agency	agency	NOUN
fbem-31299	291	13	costs	cost	NOUN
fbem-31299	291	14	(	(	PUNCT
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fbem-31299	291	16	)	)	PUNCT
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fbem-31299	291	19	capital	capital	NOUN
fbem-31299	291	20	is	be	AUX
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fbem-31299	291	22	negative	negative	ADJ
fbem-31299	291	23	(	(	PUNCT
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fbem-31299	291	25	=	=	SYM
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fbem-31299	291	33	)	)	PUNCT
fbem-31299	291	34	,	,	PUNCT
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fbem-31299	291	36	finding	finding	NOUN
fbem-31299	291	37	with	with	ADP
fbem-31299	291	38	substantial	substantial	ADJ
fbem-31299	291	39	theoretical	theoretical	ADJ
fbem-31299	291	40	and	and	CCONJ
fbem-31299	291	41	practical	practical	ADJ
fbem-31299	291	42	implications	implication	NOUN
fbem-31299	291	43	.	.	PUNCT
fbem-31299	292	1	theoretical	theoretical	ADJ
fbem-31299	292	2	implications	implication	NOUN
fbem-31299	292	3	this	this	DET
fbem-31299	292	4	outcome	outcome	NOUN
fbem-31299	292	5	validates	validate	VERB
fbem-31299	292	6	the	the	DET
fbem-31299	292	7	agency	agency	NOUN
fbem-31299	292	8	theory	theory	NOUN
fbem-31299	292	9	proposed	propose	VERB
fbem-31299	292	10	by	by	ADP
fbem-31299	292	11	jensen	jensen	PROPN
fbem-31299	292	12	and	and	CCONJ
fbem-31299	292	13	meckling	meckle	VERB
fbem-31299	292	14	[	[	X
fbem-31299	292	15	35	35	NUM
fbem-31299	292	16	]	]	PUNCT
fbem-31299	292	17	,	,	PUNCT
fbem-31299	292	18	demonstrating	demonstrate	VERB
fbem-31299	292	19	that	that	SCONJ
fbem-31299	292	20	higher	high	ADJ
fbem-31299	292	21	agency	agency	NOUN
fbem-31299	292	22	costs	cost	NOUN
fbem-31299	292	23	significantly	significantly	ADV
fbem-31299	292	24	weaken	weaken	VERB
fbem-31299	292	25	the	the	DET
fbem-31299	292	26	governance	governance	NOUN
fbem-31299	292	27	effect	effect	NOUN
fbem-31299	292	28	of	of	ADP
fbem-31299	292	29	patient	patient	ADJ
fbem-31299	292	30	capital	capital	NOUN
fbem-31299	292	31	by	by	ADP
fbem-31299	292	32	exacerbating	exacerbate	VERB
fbem-31299	292	33	goal	goal	NOUN
fbem-31299	292	34	misalignment	misalignment	NOUN
fbem-31299	292	35	between	between	ADP
fbem-31299	292	36	management	management	NOUN
fbem-31299	292	37	and	and	CCONJ
fbem-31299	292	38	investors	investor	NOUN
fbem-31299	292	39	.	.	PUNCT
fbem-31299	293	1	specifically	specifically	ADV
fbem-31299	293	2	,	,	PUNCT
fbem-31299	293	3	high	high	ADJ
fbem-31299	293	4	agency	agency	NOUN
fbem-31299	293	5	costs	cost	NOUN
fbem-31299	293	6	may	may	AUX
fbem-31299	293	7	suppress	suppress	VERB
fbem-31299	293	8	capital	capital	NOUN
fbem-31299	293	9	utility	utility	NOUN
fbem-31299	293	10	through	through	ADP
fbem-31299	293	11	three	three	NUM
fbem-31299	293	12	mechanisms	mechanism	NOUN
fbem-31299	293	13	:	:	PUNCT
fbem-31299	293	14	inducing	induce	VERB
fbem-31299	293	15	managerial	managerial	ADJ
fbem-31299	293	16	myopia	myopia	NOUN
fbem-31299	293	17	,	,	PUNCT
fbem-31299	293	18	thereby	thereby	ADV
fbem-31299	293	19	hindering	hinder	VERB
fbem-31299	293	20	long	long	ADJ
fbem-31299	293	21	-	-	PUNCT
fbem-31299	293	22	term	term	NOUN
fbem-31299	293	23	114	114	NUM
fbem-31299	293	24	innovation	innovation	NOUN
fbem-31299	293	25	investment	investment	NOUN
fbem-31299	294	1	[	[	X
fbem-31299	294	2	36	36	NUM
fbem-31299	294	3	]	]	PUNCT
fbem-31299	294	4	;	;	PUNCT
fbem-31299	294	5	distorting	distort	VERB
fbem-31299	294	6	resource	resource	NOUN
fbem-31299	294	7	allocation	allocation	NOUN
fbem-31299	294	8	and	and	CCONJ
fbem-31299	294	9	reducing	reduce	VERB
fbem-31299	294	10	capital	capital	NOUN
fbem-31299	294	11	efficiency	efficiency	NOUN
fbem-31299	294	12	[	[	X
fbem-31299	294	13	4	4	NUM
fbem-31299	294	14	]	]	PUNCT
fbem-31299	294	15	;	;	PUNCT
fbem-31299	294	16	amplifying	amplify	VERB
fbem-31299	294	17	information	information	NOUN
fbem-31299	294	18	asymmetry	asymmetry	NOUN
fbem-31299	294	19	,	,	PUNCT
fbem-31299	294	20	undermining	undermine	VERB
fbem-31299	294	21	investor	investor	NOUN
fbem-31299	294	22	oversight	oversight	NOUN
fbem-31299	294	23	efficacy	efficacy	NOUN
fbem-31299	294	24	[	[	X
fbem-31299	294	25	37	37	NUM
fbem-31299	294	26	]	]	PUNCT
fbem-31299	294	27	.	.	PUNCT
fbem-31299	295	1	table	table	NOUN
fbem-31299	295	2	10	10	NUM
fbem-31299	295	3	.	.	PUNCT
fbem-31299	296	1	test	test	NOUN
fbem-31299	296	2	of	of	ADP
fbem-31299	296	3	the	the	DET
fbem-31299	296	4	moderating	moderate	VERB
fbem-31299	296	5	effect	effect	NOUN
fbem-31299	296	6	of	of	ADP
fbem-31299	296	7	first	first	ADJ
fbem-31299	296	8	-	-	PUNCT
fbem-31299	296	9	tier	tier	NOUN
fbem-31299	296	10	agency	agency	NOUN
fbem-31299	296	11	costs	cost	VERB
fbem-31299	296	12	res	re	NOUN
fbem-31299	296	13	invest	invest	VERB
fbem-31299	296	14	0.0108	0.0108	NUM
fbem-31299	296	15	*	*	PUNCT
fbem-31299	296	16	*	*	PUNCT
fbem-31299	297	1	*	*	PUNCT
fbem-31299	298	1	(	(	PUNCT
fbem-31299	298	2	4.16	4.16	NUM
fbem-31299	298	3	)	)	PUNCT
fbem-31299	298	4	ac_invest	ac_inv	ADJ
fbem-31299	298	5	-0.0669	-0.0669	NOUN
fbem-31299	298	6	*	*	PUNCT
fbem-31299	298	7	*	*	PUNCT
fbem-31299	298	8	*	*	PUNCT
fbem-31299	298	9	(	(	PUNCT
fbem-31299	298	10	-4.19	-4.19	NOUN
fbem-31299	298	11	)	)	PUNCT
fbem-31299	298	12	ac	ac	NOUN
fbem-31299	298	13	-0.00589	-0.00589	PROPN
fbem-31299	299	1	*	*	PUNCT
fbem-31299	299	2	*	*	PUNCT
fbem-31299	299	3	(	(	PUNCT
fbem-31299	299	4	-2.24	-2.24	NOUN
fbem-31299	299	5	)	)	PUNCT
fbem-31299	299	6	current	current	ADJ
fbem-31299	299	7	0.0000619	0.0000619	NUM
fbem-31299	299	8	(	(	PUNCT
fbem-31299	299	9	0.48	0.48	NUM
fbem-31299	299	10	)	)	PUNCT
fbem-31299	299	11	lev	lev	NOUN
fbem-31299	299	12	0.0102	0.0102	NUM
fbem-31299	299	13	*	*	NOUN
fbem-31299	299	14	*	*	PUNCT
fbem-31299	299	15	*	*	PUNCT
fbem-31299	299	16	(	(	PUNCT
fbem-31299	299	17	4.30	4.30	NUM
fbem-31299	299	18	)	)	PUNCT
fbem-31299	299	19	roa	roa	NOUN
fbem-31299	299	20	0.0401	0.0401	NOUN
fbem-31299	299	21	*	*	PUNCT
fbem-31299	299	22	*	*	PUNCT
fbem-31299	299	23	*	*	PUNCT
fbem-31299	299	24	(	(	PUNCT
fbem-31299	299	25	10.91	10.91	NUM
fbem-31299	299	26	)	)	PUNCT
fbem-31299	299	27	growth	growth	NOUN
fbem-31299	299	28	0.0000829	0.0000829	NUM
fbem-31299	299	29	*	*	SYM
fbem-31299	299	30	(	(	PUNCT
fbem-31299	299	31	1.92	1.92	NUM
fbem-31299	299	32	)	)	PUNCT
fbem-31299	299	33	tobinq	tobinq	ADJ
fbem-31299	299	34	-0.0000310	-0.0000310	NOUN
fbem-31299	299	35	(	(	PUNCT
fbem-31299	299	36	-0.16	-0.16	X
fbem-31299	299	37	)	)	PUNCT
fbem-31299	299	38	bm	bm	PROPN
fbem-31299	299	39	1.82e-08	1.82e-08	NUM
fbem-31299	299	40	(	(	PUNCT
fbem-31299	299	41	0.05	0.05	NUM
fbem-31299	299	42	)	)	PUNCT
fbem-31299	299	43	der	der	NOUN
fbem-31299	299	44	-0.0000114	-0.0000114	NOUN
fbem-31299	299	45	(	(	PUNCT
fbem-31299	299	46	-0.31	-0.31	NOUN
fbem-31299	299	47	)	)	PUNCT
fbem-31299	299	48	listage	listage	NOUN
fbem-31299	299	49	0.000323	0.000323	NUM
fbem-31299	299	50	(	(	PUNCT
fbem-31299	299	51	0.19	0.19	NUM
fbem-31299	299	52	)	)	PUNCT
fbem-31299	299	53	soe	soe	ADJ
fbem-31299	299	54	-0.00260	-0.00260	NOUN
fbem-31299	299	55	*	*	PUNCT
fbem-31299	299	56	(	(	PUNCT
fbem-31299	299	57	-1.87	-1.87	PROPN
fbem-31299	299	58	)	)	PUNCT
fbem-31299	299	59	board	board	NOUN
fbem-31299	299	60	0.00134	0.00134	NUM
fbem-31299	299	61	(	(	PUNCT
fbem-31299	299	62	1.26	1.26	NUM
fbem-31299	299	63	)	)	PUNCT
fbem-31299	299	64	indep	indep	NOUN
fbem-31299	299	65	-0.00141	-0.00141	NOUN
fbem-31299	299	66	(	(	PUNCT
fbem-31299	299	67	-0.45	-0.45	NOUN
fbem-31299	299	68	)	)	PUNCT
fbem-31299	299	69	dual	dual	ADJ
fbem-31299	299	70	0.000889	0.000889	NUM
fbem-31299	299	71	(	(	PUNCT
fbem-31299	299	72	1.31	1.31	NUM
fbem-31299	299	73	)	)	PUNCT
fbem-31299	299	74	herfindahl10	herfindahl10	NOUN
fbem-31299	300	1	0.00226	0.00226	NUM
fbem-31299	300	2	(	(	PUNCT
fbem-31299	300	3	0.45	0.45	NUM
fbem-31299	300	4	)	)	PUNCT
fbem-31299	300	5	mshare	mshare	INTJ
fbem-31299	300	6	-0.00170	-0.00170	PUNCT
fbem-31299	301	1	*	*	PUNCT
fbem-31299	301	2	*	*	PUNCT
fbem-31299	301	3	(	(	PUNCT
fbem-31299	301	4	-2.38	-2.38	NOUN
fbem-31299	301	5	)	)	PUNCT
fbem-31299	301	6	_	_	NOUN
fbem-31299	301	7	cons	con	NOUN
fbem-31299	301	8	0.291	0.291	NUM
fbem-31299	301	9	*	*	PUNCT
fbem-31299	301	10	*	*	PUNCT
fbem-31299	301	11	*	*	PUNCT
fbem-31299	301	12	(	(	PUNCT
fbem-31299	301	13	56.49	56.49	NUM
fbem-31299	301	14	)	)	PUNCT
fbem-31299	301	15	firm	firm	NOUN
fbem-31299	302	1	yes	yes	INTJ
fbem-31299	302	2	year	year	NOUN
fbem-31299	303	1	yes	yes	INTJ
fbem-31299	303	2	n	n	CCONJ
fbem-31299	303	3	9926	9926	NUM
fbem-31299	303	4	f	f	NOUN
fbem-31299	303	5	11	11	NUM
fbem-31299	303	6	*	*	PUNCT
fbem-31299	303	7	*	*	PUNCT
fbem-31299	303	8	*	*	PUNCT
fbem-31299	303	9	r2	r2	PROPN
fbem-31299	303	10	0.437	0.437	NUM
fbem-31299	303	11	r2_a	r2_a	NOUN
fbem-31299	303	12	0.354	0.354	NUM
fbem-31299	303	13	t	t	NOUN
fbem-31299	303	14	statistics	statistic	NOUN
fbem-31299	303	15	in	in	ADP
fbem-31299	303	16	parentheses	parenthesis	NOUN
fbem-31299	303	17	*	*	PUNCT
fbem-31299	303	18	p	p	X
fbem-31299	303	19	<	<	X
fbem-31299	303	20	0.1	0.1	NUM
fbem-31299	303	21	,	,	PUNCT
fbem-31299	303	22	*	*	PUNCT
fbem-31299	303	23	*	*	PUNCT
fbem-31299	304	1	p	p	X
fbem-31299	304	2	<	<	X
fbem-31299	304	3	0.05	0.05	NUM
fbem-31299	304	4	,	,	PUNCT
fbem-31299	304	5	*	*	PUNCT
fbem-31299	304	6	*	*	PUNCT
fbem-31299	304	7	*	*	PUNCT
fbem-31299	305	1	p	p	X
fbem-31299	305	2	<	<	X
fbem-31299	305	3	0.01	0.01	NUM
fbem-31299	305	4	this	this	DET
fbem-31299	305	5	discovery	discovery	NOUN
fbem-31299	305	6	provides	provide	VERB
fbem-31299	305	7	clear	clear	ADJ
fbem-31299	305	8	guidance	guidance	NOUN
fbem-31299	305	9	for	for	ADP
fbem-31299	305	10	optimizing	optimize	VERB
fbem-31299	305	11	capital	capital	NOUN
fbem-31299	305	12	allocation	allocation	NOUN
fbem-31299	305	13	:	:	PUNCT
fbem-31299	305	14	for	for	ADP
fbem-31299	305	15	investors	investor	NOUN
fbem-31299	305	16	:	:	PUNCT
fbem-31299	305	17	prioritize	prioritize	VERB
fbem-31299	305	18	firms	firm	NOUN
fbem-31299	305	19	with	with	ADP
fbem-31299	305	20	lower	low	ADJ
fbem-31299	305	21	agency	agency	NOUN
fbem-31299	305	22	costs	cost	NOUN
fbem-31299	305	23	by	by	ADP
fbem-31299	305	24	thoroughly	thoroughly	ADV
fbem-31299	305	25	evaluating	evaluate	VERB
fbem-31299	305	26	governance	governance	NOUN
fbem-31299	305	27	structures	structure	NOUN
fbem-31299	305	28	before	before	ADP
fbem-31299	305	29	investment	investment	NOUN
fbem-31299	305	30	.	.	PUNCT
fbem-31299	306	1	for	for	ADP
fbem-31299	306	2	enterprises	enterprise	NOUN
fbem-31299	306	3	:	:	PUNCT
fbem-31299	306	4	reduce	reduce	VERB
fbem-31299	306	5	agency	agency	NOUN
fbem-31299	306	6	costs	cost	NOUN
fbem-31299	306	7	through	through	ADP
fbem-31299	306	8	measures	measure	NOUN
fbem-31299	306	9	such	such	ADJ
fbem-31299	306	10	as	as	ADP
fbem-31299	306	11	enhancing	enhance	VERB
fbem-31299	306	12	independent	independent	ADJ
fbem-31299	306	13	director	director	NOUN
fbem-31299	306	14	systems	system	NOUN
fbem-31299	306	15	and	and	CCONJ
fbem-31299	306	16	implementing	implement	VERB
fbem-31299	306	17	equity	equity	NOUN
fbem-31299	306	18	incentives	incentive	NOUN
fbem-31299	306	19	.	.	PUNCT
fbem-31299	307	1	for	for	ADP
fbem-31299	307	2	policymakers	policymaker	NOUN
fbem-31299	307	3	:	:	PUNCT
fbem-31299	307	4	incorporate	incorporate	VERB
fbem-31299	307	5	agency	agency	NOUN
fbem-31299	307	6	cost	cost	NOUN
fbem-31299	307	7	metrics	metric	NOUN
fbem-31299	307	8	into	into	ADP
fbem-31299	307	9	patient	patient	ADJ
fbem-31299	307	10	capital	capital	NOUN
fbem-31299	307	11	policy	policy	NOUN
fbem-31299	307	12	assessments	assessment	NOUN
fbem-31299	307	13	,	,	PUNCT
fbem-31299	307	14	e.g.	e.g.	ADV
fbem-31299	307	15	,	,	PUNCT
fbem-31299	307	16	offering	offer	VERB
fbem-31299	307	17	additional	additional	ADJ
fbem-31299	307	18	tax	tax	NOUN
fbem-31299	307	19	incentives	incentive	NOUN
fbem-31299	307	20	to	to	ADP
fbem-31299	307	21	firms	firm	NOUN
fbem-31299	307	22	with	with	ADP
fbem-31299	307	23	superior	superior	ADJ
fbem-31299	307	24	governance	governance	NOUN
fbem-31299	307	25	ratings	rating	NOUN
fbem-31299	307	26	.	.	PUNCT
fbem-31299	308	1	notably	notably	ADV
fbem-31299	308	2	,	,	PUNCT
fbem-31299	308	3	the	the	DET
fbem-31299	308	4	significantly	significantly	ADV
fbem-31299	308	5	positive	positive	ADJ
fbem-31299	308	6	coefficients	coefficient	NOUN
fbem-31299	308	7	of	of	ADP
fbem-31299	308	8	financial	financial	ADJ
fbem-31299	308	9	health	health	NOUN
fbem-31299	308	10	indicators	indicator	NOUN
fbem-31299	308	11	(	(	PUNCT
fbem-31299	308	12	roa	roa	NOUN
fbem-31299	308	13	and	and	CCONJ
fbem-31299	308	14	lev	lev	NOUN
fbem-31299	308	15	)	)	PUNCT
fbem-31299	308	16	among	among	ADP
fbem-31299	308	17	the	the	DET
fbem-31299	308	18	control	control	NOUN
fbem-31299	308	19	variables	variable	NOUN
fbem-31299	308	20	further	far	ADV
fbem-31299	308	21	indicate	indicate	VERB
fbem-31299	308	22	that	that	SCONJ
fbem-31299	308	23	sound	sound	ADJ
fbem-31299	308	24	financial	financial	ADJ
fbem-31299	308	25	conditions	condition	NOUN
fbem-31299	308	26	and	and	CCONJ
fbem-31299	308	27	low	low	ADJ
fbem-31299	308	28	agency	agency	NOUN
fbem-31299	308	29	costs	cost	NOUN
fbem-31299	308	30	synergistically	synergistically	ADV
fbem-31299	308	31	enhance	enhance	VERB
fbem-31299	308	32	the	the	DET
fbem-31299	308	33	efficacy	efficacy	NOUN
fbem-31299	308	34	of	of	ADP
fbem-31299	308	35	patient	patient	ADJ
fbem-31299	308	36	capital	capital	NOUN
fbem-31299	308	37	.	.	PUNCT
fbem-31299	309	1	this	this	PRON
fbem-31299	309	2	suggests	suggest	VERB
fbem-31299	309	3	that	that	SCONJ
fbem-31299	309	4	enterprises	enterprise	NOUN
fbem-31299	309	5	must	must	AUX
fbem-31299	309	6	adopt	adopt	VERB
fbem-31299	309	7	a	a	DET
fbem-31299	309	8	"	"	PUNCT
fbem-31299	309	9	dualdrive	dualdrive	ADJ
fbem-31299	309	10	"	"	PUNCT
fbem-31299	309	11	strategy	strategy	NOUN
fbem-31299	309	12	—	—	PUNCT
fbem-31299	309	13	balancing	balance	VERB
fbem-31299	309	14	financial	financial	ADJ
fbem-31299	309	15	stability	stability	NOUN
fbem-31299	309	16	with	with	ADP
fbem-31299	309	17	governance	governance	NOUN
fbem-31299	309	18	optimization	optimization	NOUN
fbem-31299	309	19	—	—	PUNCT
fbem-31299	309	20	to	to	PART
fbem-31299	309	21	maximize	maximize	VERB
fbem-31299	309	22	resilience	resilience	NOUN
fbem-31299	309	23	when	when	SCONJ
fbem-31299	309	24	introducing	introduce	VERB
fbem-31299	309	25	patient	patient	ADJ
fbem-31299	309	26	capital	capital	NOUN
fbem-31299	309	27	.	.	PUNCT
fbem-31299	310	1	5.3	5.3	NUM
fbem-31299	310	2	.	.	PUNCT
fbem-31299	310	3	heterogeneity	heterogeneity	PROPN
fbem-31299	310	4	test	test	VERB
fbem-31299	310	5	the	the	DET
fbem-31299	310	6	results	result	NOUN
fbem-31299	310	7	of	of	ADP
fbem-31299	310	8	the	the	DET
fbem-31299	310	9	heterogeneity	heterogeneity	NOUN
fbem-31299	310	10	test	test	NOUN
fbem-31299	310	11	reveal	reveal	VERB
fbem-31299	310	12	significant	significant	ADJ
fbem-31299	310	13	industry	industry	NOUN
fbem-31299	310	14	differences	difference	NOUN
fbem-31299	310	15	in	in	ADP
fbem-31299	310	16	the	the	DET
fbem-31299	310	17	impact	impact	NOUN
fbem-31299	310	18	of	of	ADP
fbem-31299	310	19	patient	patient	ADJ
fbem-31299	310	20	capital	capital	NOUN
fbem-31299	310	21	(	(	PUNCT
fbem-31299	310	22	invest	invest	VERB
fbem-31299	310	23	)	)	PUNCT
fbem-31299	310	24	on	on	ADP
fbem-31299	310	25	enterprise	enterprise	NOUN
fbem-31299	310	26	resilience	resilience	NOUN
fbem-31299	310	27	,	,	PUNCT
fbem-31299	310	28	providing	provide	VERB
fbem-31299	310	29	important	important	ADJ
fbem-31299	310	30	insights	insight	NOUN
fbem-31299	310	31	into	into	ADP
fbem-31299	310	32	the	the	DET
fbem-31299	310	33	boundary	boundary	ADJ
fbem-31299	310	34	conditions	condition	NOUN
fbem-31299	310	35	of	of	ADP
fbem-31299	310	36	capital	capital	NOUN
fbem-31299	310	37	effectiveness	effectiveness	NOUN
fbem-31299	310	38	.	.	PUNCT
fbem-31299	311	1	comparison	comparison	NOUN
fbem-31299	311	2	between	between	ADP
fbem-31299	311	3	digital	digital	ADJ
fbem-31299	311	4	and	and	CCONJ
fbem-31299	311	5	non	non	ADJ
fbem-31299	311	6	-	-	ADJ
fbem-31299	311	7	digital	digital	ADJ
fbem-31299	311	8	core	core	NOUN
fbem-31299	311	9	industries	industry	NOUN
fbem-31299	311	10	:	:	PUNCT
fbem-31299	311	11	patient	patient	ADJ
fbem-31299	311	12	capital	capital	NOUN
fbem-31299	311	13	exhibits	exhibit	VERB
fbem-31299	311	14	a	a	DET
fbem-31299	311	15	more	more	ADV
fbem-31299	311	16	pronounced	pronounced	ADJ
fbem-31299	311	17	positive	positive	ADJ
fbem-31299	311	18	effect	effect	NOUN
fbem-31299	311	19	in	in	ADP
fbem-31299	311	20	non	non	ADJ
fbem-31299	311	21	-	-	ADJ
fbem-31299	311	22	digital	digital	ADJ
fbem-31299	311	23	core	core	NOUN
fbem-31299	311	24	industries	industry	NOUN
fbem-31299	311	25	(	(	PUNCT
fbem-31299	311	26	β=0.0129	β=0.0129	PROPN
fbem-31299	311	27	,	,	PUNCT
fbem-31299	311	28	p<0.01	p<0.01	PROPN
fbem-31299	311	29	)	)	PUNCT
fbem-31299	311	30	,	,	PUNCT
fbem-31299	311	31	while	while	SCONJ
fbem-31299	311	32	its	its	PRON
fbem-31299	311	33	impact	impact	NOUN
fbem-31299	311	34	in	in	ADP
fbem-31299	311	35	digital	digital	ADJ
fbem-31299	311	36	core	core	NOUN
fbem-31299	311	37	industries	industry	NOUN
fbem-31299	311	38	is	be	AUX
fbem-31299	311	39	statistically	statistically	ADV
fbem-31299	311	40	insignificant	insignificant	ADJ
fbem-31299	311	41	(	(	PUNCT
fbem-31299	311	42	β=0.00162	β=0.00162	INTJ
fbem-31299	311	43	,	,	PUNCT
fbem-31299	311	44	p>0.1	p>0.1	NOUN
fbem-31299	311	45	)	)	PUNCT
fbem-31299	311	46	.	.	PUNCT
fbem-31299	312	1	this	this	DET
fbem-31299	312	2	divergence	divergence	NOUN
fbem-31299	312	3	may	may	AUX
fbem-31299	312	4	stem	stem	VERB
fbem-31299	312	5	from	from	ADP
fbem-31299	312	6	inherent	inherent	ADJ
fbem-31299	312	7	industry	industry	NOUN
fbem-31299	312	8	characteristics	characteristic	NOUN
fbem-31299	312	9	:	:	PUNCT
fbem-31299	312	10	digital	digital	ADJ
fbem-31299	312	11	economy	economy	NOUN
fbem-31299	312	12	firms	firm	NOUN
fbem-31299	312	13	typically	typically	ADV
fbem-31299	312	14	feature	feature	VERB
fbem-31299	312	15	asset	asset	NOUN
fbem-31299	312	16	-	-	PUNCT
fbem-31299	312	17	light	light	NOUN
fbem-31299	312	18	structures	structure	NOUN
fbem-31299	312	19	,	,	PUNCT
fbem-31299	312	20	high	high	ADJ
fbem-31299	312	21	liquidity	liquidity	NOUN
fbem-31299	312	22	,	,	PUNCT
fbem-31299	312	23	and	and	CCONJ
fbem-31299	312	24	rapid	rapid	ADJ
fbem-31299	312	25	iteration	iteration	NOUN
fbem-31299	312	26	.	.	PUNCT
fbem-31299	313	1	their	their	PRON
fbem-31299	313	2	resilience	resilience	NOUN
fbem-31299	313	3	relies	rely	VERB
fbem-31299	313	4	more	more	ADJ
fbem-31299	313	5	on	on	ADP
fbem-31299	313	6	technological	technological	ADJ
fbem-31299	313	7	innovation	innovation	NOUN
fbem-31299	313	8	and	and	CCONJ
fbem-31299	313	9	market	market	NOUN
fbem-31299	313	10	agility	agility	NOUN
fbem-31299	313	11	,	,	PUNCT
fbem-31299	313	12	reducing	reduce	VERB
fbem-31299	313	13	their	their	PRON
fbem-31299	313	14	dependence	dependence	NOUN
fbem-31299	313	15	on	on	ADP
fbem-31299	313	16	long	long	ADJ
fbem-31299	313	17	-	-	PUNCT
fbem-31299	313	18	term	term	NOUN
fbem-31299	313	19	capital	capital	NOUN
fbem-31299	313	20	.	.	PUNCT
fbem-31299	314	1	traditional	traditional	ADJ
fbem-31299	314	2	manufacturing	manufacturing	NOUN
fbem-31299	314	3	(	(	PUNCT
fbem-31299	314	4	non	non	ADJ
fbem-31299	314	5	-	-	ADJ
fbem-31299	314	6	digital	digital	ADJ
fbem-31299	314	7	industries	industry	NOUN
fbem-31299	314	8	)	)	PUNCT
fbem-31299	314	9	,	,	PUNCT
fbem-31299	314	10	however	however	ADV
fbem-31299	314	11	,	,	PUNCT
fbem-31299	314	12	requires	require	VERB
fbem-31299	314	13	patient	patient	ADJ
fbem-31299	314	14	capital	capital	NOUN
fbem-31299	314	15	to	to	PART
fbem-31299	314	16	support	support	VERB
fbem-31299	314	17	long	long	ADJ
fbem-31299	314	18	-	-	PUNCT
fbem-31299	314	19	cycle	cycle	NOUN
fbem-31299	314	20	infrastructure	infrastructure	NOUN
fbem-31299	314	21	development	development	NOUN
fbem-31299	314	22	and	and	CCONJ
fbem-31299	314	23	technological	technological	ADJ
fbem-31299	314	24	upgrades	upgrade	NOUN
fbem-31299	314	25	,	,	PUNCT
fbem-31299	314	26	making	make	VERB
fbem-31299	314	27	capital	capital	NOUN
fbem-31299	314	28	more	more	ADV
fbem-31299	314	29	effective	effective	ADJ
fbem-31299	314	30	in	in	ADP
fbem-31299	314	31	these	these	DET
fbem-31299	314	32	sectors	sector	NOUN
fbem-31299	314	33	.	.	PUNCT
fbem-31299	315	1	comparison	comparison	NOUN
fbem-31299	315	2	between	between	ADP
fbem-31299	315	3	high	high	ADJ
fbem-31299	315	4	-	-	PUNCT
fbem-31299	315	5	tech	tech	NOUN
fbem-31299	315	6	and	and	CCONJ
fbem-31299	315	7	non	non	ADJ
fbem-31299	315	8	-	-	ADJ
fbem-31299	315	9	high	high	ADJ
fbem-31299	315	10	-	-	PUNCT
fbem-31299	315	11	tech	tech	NOUN
fbem-31299	315	12	industries	industry	NOUN
fbem-31299	315	13	:	:	PUNCT
fbem-31299	315	14	the	the	DET
fbem-31299	315	15	subgroup	subgroup	NOUN
fbem-31299	315	16	analysis	analysis	NOUN
fbem-31299	315	17	further	far	ADV
fbem-31299	315	18	confirms	confirm	VERB
fbem-31299	315	19	this	this	DET
fbem-31299	315	20	pattern	pattern	NOUN
fbem-31299	315	21	:	:	PUNCT
fbem-31299	315	22	patient	patient	ADJ
fbem-31299	315	23	capital	capital	NOUN
fbem-31299	315	24	significantly	significantly	ADV
fbem-31299	315	25	enhances	enhance	VERB
fbem-31299	315	26	resilience	resilience	NOUN
fbem-31299	315	27	in	in	ADP
fbem-31299	315	28	nonhigh	nonhigh	ADJ
fbem-31299	315	29	-	-	PUNCT
fbem-31299	315	30	tech	tech	NOUN
fbem-31299	315	31	firms	firm	NOUN
fbem-31299	315	32	(	(	PUNCT
fbem-31299	315	33	β=0.0110	β=0.0110	PROPN
fbem-31299	315	34	,	,	PUNCT
fbem-31299	315	35	p<0.01	p<0.01	PROPN
fbem-31299	315	36	)	)	PUNCT
fbem-31299	315	37	.	.	PUNCT
fbem-31299	316	1	its	its	PRON
fbem-31299	316	2	effect	effect	NOUN
fbem-31299	316	3	on	on	ADP
fbem-31299	316	4	high	high	ADJ
fbem-31299	316	5	-	-	PUNCT
fbem-31299	316	6	tech	tech	NOUN
fbem-31299	316	7	firms	firm	NOUN
fbem-31299	316	8	is	be	AUX
fbem-31299	316	9	negative	negative	ADJ
fbem-31299	316	10	and	and	CCONJ
fbem-31299	316	11	insignificant	insignificant	ADJ
fbem-31299	316	12	(	(	PUNCT
fbem-31299	316	13	β=-0.00985	β=-0.00985	NUM
fbem-31299	316	14	,	,	PUNCT
fbem-31299	316	15	p>0.1	p>0.1	NOUN
fbem-31299	316	16	)	)	PUNCT
fbem-31299	316	17	.	.	PUNCT
fbem-31299	317	1	this	this	DET
fbem-31299	317	2	finding	finding	NOUN
fbem-31299	317	3	engages	engage	VERB
fbem-31299	317	4	with	with	ADP
fbem-31299	317	5	prior	prior	ADJ
fbem-31299	317	6	research	research	NOUN
fbem-31299	317	7	in	in	ADP
fbem-31299	317	8	nuanced	nuanced	ADJ
fbem-31299	317	9	ways	way	NOUN
fbem-31299	317	10	:	:	PUNCT
fbem-31299	317	11	(	(	PUNCT
fbem-31299	317	12	1	1	X
fbem-31299	317	13	)	)	PUNCT
fbem-31299	317	14	high	high	ADJ
fbem-31299	317	15	-	-	PUNCT
fbem-31299	317	16	tech	tech	NOUN
fbem-31299	317	17	firms	firm	NOUN
fbem-31299	317	18	engage	engage	VERB
fbem-31299	317	19	in	in	ADP
fbem-31299	317	20	innovation	innovation	NOUN
fbem-31299	317	21	activities	activity	NOUN
fbem-31299	317	22	characterized	characterize	VERB
fbem-31299	317	23	by	by	ADP
fbem-31299	317	24	high	high	ADJ
fbem-31299	317	25	risk	risk	NOUN
fbem-31299	317	26	and	and	CCONJ
fbem-31299	317	27	uncertainty	uncertainty	NOUN
fbem-31299	317	28	,	,	PUNCT
fbem-31299	317	29	which	which	PRON
fbem-31299	317	30	may	may	AUX
fbem-31299	317	31	lead	lead	VERB
fbem-31299	317	32	patient	patient	ADJ
fbem-31299	317	33	capital	capital	NOUN
fbem-31299	317	34	to	to	PART
fbem-31299	317	35	adopt	adopt	VERB
fbem-31299	317	36	a	a	DET
fbem-31299	317	37	risk	risk	NOUN
fbem-31299	317	38	-	-	PUNCT
fbem-31299	317	39	averse	averse	ADJ
fbem-31299	317	40	stance	stance	NOUN
fbem-31299	317	41	[	[	X
fbem-31299	317	42	7	7	NUM
fbem-31299	317	43	]	]	PUNCT
fbem-31299	317	44	.	.	PUNCT
fbem-31299	318	1	(	(	PUNCT
fbem-31299	318	2	2	2	X
fbem-31299	318	3	)	)	PUNCT
fbem-31299	318	4	these	these	DET
fbem-31299	318	5	firms	firm	NOUN
fbem-31299	318	6	often	often	ADV
fbem-31299	318	7	possess	possess	VERB
fbem-31299	318	8	stronger	strong	ADJ
fbem-31299	318	9	internal	internal	ADJ
fbem-31299	318	10	financing	financing	NOUN
fbem-31299	318	11	capabilities	capability	NOUN
fbem-31299	318	12	and	and	CCONJ
fbem-31299	318	13	technological	technological	ADJ
fbem-31299	318	14	barriers	barrier	NOUN
fbem-31299	318	15	,	,	PUNCT
fbem-31299	318	16	diminishing	diminish	VERB
fbem-31299	318	17	their	their	PRON
fbem-31299	318	18	reliance	reliance	NOUN
fbem-31299	318	19	on	on	ADP
fbem-31299	318	20	external	external	ADJ
fbem-31299	318	21	long	long	ADJ
fbem-31299	318	22	-	-	PUNCT
fbem-31299	318	23	term	term	NOUN
fbem-31299	318	24	capital	capital	NOUN
fbem-31299	318	25	[	[	X
fbem-31299	318	26	8	8	NUM
fbem-31299	318	27	]	]	PUNCT
fbem-31299	318	28	.	.	PUNCT
fbem-31299	319	1	notably	notably	ADV
fbem-31299	319	2	,	,	PUNCT
fbem-31299	319	3	control	control	NOUN
fbem-31299	319	4	variables	variable	NOUN
fbem-31299	319	5	also	also	ADV
fbem-31299	319	6	exhibit	exhibit	VERB
fbem-31299	319	7	systematic	systematic	ADJ
fbem-31299	319	8	differences	difference	NOUN
fbem-31299	319	9	:	:	PUNCT
fbem-31299	319	10	in	in	ADP
fbem-31299	319	11	non	non	ADJ
fbem-31299	319	12	-	-	ADJ
fbem-31299	319	13	digital	digital	ADJ
fbem-31299	319	14	and	and	CCONJ
fbem-31299	319	15	non	non	ADJ
fbem-31299	319	16	-	-	ADJ
fbem-31299	319	17	high	high	ADJ
fbem-31299	319	18	-	-	PUNCT
fbem-31299	319	19	tech	tech	NOUN
fbem-31299	319	20	industries	industry	NOUN
fbem-31299	319	21	,	,	PUNCT
fbem-31299	319	22	financial	financial	ADJ
fbem-31299	319	23	health	health	NOUN
fbem-31299	319	24	indicators	indicator	NOUN
fbem-31299	319	25	(	(	PUNCT
fbem-31299	319	26	e.g.	e.g.	ADV
fbem-31299	319	27	,	,	PUNCT
fbem-31299	319	28	lev	lev	NOUN
fbem-31299	319	29	and	and	CCONJ
fbem-31299	319	30	roa	roa	PROPN
fbem-31299	319	31	)	)	PUNCT
fbem-31299	319	32	show	show	VERB
fbem-31299	319	33	a	a	DET
fbem-31299	319	34	stronger	strong	ADJ
fbem-31299	319	35	positive	positive	ADJ
fbem-31299	319	36	correlation	correlation	NOUN
fbem-31299	319	37	with	with	ADP
fbem-31299	319	38	resilience	resilience	NOUN
fbem-31299	319	39	,	,	PUNCT
fbem-31299	319	40	indicating	indicate	VERB
fbem-31299	319	41	that	that	SCONJ
fbem-31299	319	42	capital	capital	NOUN
fbem-31299	319	43	and	and	CCONJ
fbem-31299	319	44	financial	financial	ADJ
fbem-31299	319	45	stability	stability	NOUN
fbem-31299	319	46	synergize	synergize	VERB
fbem-31299	319	47	more	more	ADV
fbem-31299	319	48	effectively	effectively	ADV
fbem-31299	319	49	in	in	ADP
fbem-31299	319	50	traditional	traditional	ADJ
fbem-31299	319	51	sectors	sector	NOUN
fbem-31299	319	52	.	.	PUNCT
fbem-31299	320	1	policy	policy	NOUN
fbem-31299	320	2	implications	implication	NOUN
fbem-31299	320	3	(	(	PUNCT
fbem-31299	320	4	1	1	NUM
fbem-31299	320	5	)	)	PUNCT
fbem-31299	320	6	for	for	ADP
fbem-31299	320	7	policymakers	policymaker	NOUN
fbem-31299	320	8	:	:	PUNCT
fbem-31299	320	9	implement	implement	VERB
fbem-31299	320	10	differentiated	differentiated	ADJ
fbem-31299	320	11	strategies	strategy	NOUN
fbem-31299	320	12	for	for	ADP
fbem-31299	320	13	capital	capital	NOUN
fbem-31299	320	14	allocation	allocation	NOUN
fbem-31299	320	15	:	:	PUNCT
fbem-31299	320	16	traditional	traditional	ADJ
fbem-31299	320	17	manufacturing	manufacturing	NOUN
fbem-31299	320	18	:	:	PUNCT
fbem-31299	320	19	enhance	enhance	VERB
fbem-31299	320	20	support	support	NOUN
fbem-31299	320	21	through	through	ADP
fbem-31299	320	22	tax	tax	NOUN
fbem-31299	320	23	incentives	incentive	NOUN
fbem-31299	320	24	and	and	CCONJ
fbem-31299	320	25	specialized	specialized	ADJ
fbem-31299	320	26	funds	fund	NOUN
fbem-31299	320	27	.	.	PUNCT
fbem-31299	321	1	digital	digital	ADJ
fbem-31299	321	2	and	and	CCONJ
fbem-31299	321	3	high	high	ADJ
fbem-31299	321	4	-	-	PUNCT
fbem-31299	321	5	tech	tech	NOUN
fbem-31299	321	6	industries	industry	NOUN
fbem-31299	321	7	:	:	PUNCT
fbem-31299	321	8	focus	focus	VERB
fbem-31299	321	9	on	on	ADP
fbem-31299	321	10	innovation	innovation	NOUN
fbem-31299	321	11	infrastructure	infrastructure	NOUN
fbem-31299	321	12	(	(	PUNCT
fbem-31299	321	13	e.g.	e.g.	ADV
fbem-31299	321	14	,	,	PUNCT
fbem-31299	321	15	r&d	r&d	NOUN
fbem-31299	321	16	platforms	platform	NOUN
fbem-31299	321	17	)	)	PUNCT
fbem-31299	321	18	and	and	CCONJ
fbem-31299	321	19	intellectual	intellectual	ADJ
fbem-31299	321	20	property	property	NOUN
fbem-31299	321	21	protection	protection	NOUN
fbem-31299	321	22	.	.	PUNCT
fbem-31299	322	1	(	(	PUNCT
fbem-31299	322	2	2	2	X
fbem-31299	322	3	)	)	PUNCT
fbem-31299	322	4	for	for	ADP
fbem-31299	322	5	enterprises	enterprise	NOUN
fbem-31299	322	6	:	:	PUNCT
fbem-31299	322	7	non	non	ADJ
fbem-31299	322	8	-	-	ADJ
fbem-31299	322	9	digital	digital	ADJ
fbem-31299	322	10	firms	firm	NOUN
fbem-31299	322	11	:	:	PUNCT
fbem-31299	322	12	prioritize	prioritize	VERB
fbem-31299	322	13	strategic	strategic	ADJ
fbem-31299	322	14	investors	investor	NOUN
fbem-31299	322	15	to	to	PART
fbem-31299	322	16	optimize	optimize	VERB
fbem-31299	322	17	capital	capital	NOUN
fbem-31299	322	18	structures	structure	NOUN
fbem-31299	322	19	.	.	PUNCT
fbem-31299	323	1	115	115	NUM
fbem-31299	323	2	high	high	ADJ
fbem-31299	323	3	-	-	PUNCT
fbem-31299	323	4	tech	tech	NOUN
fbem-31299	323	5	firms	firm	NOUN
fbem-31299	323	6	:	:	PUNCT
fbem-31299	323	7	balance	balance	NOUN
fbem-31299	323	8	short	short	ADJ
fbem-31299	323	9	-	-	PUNCT
fbem-31299	323	10	term	term	NOUN
fbem-31299	323	11	r&d	r&d	NOUN
fbem-31299	323	12	investments	investment	NOUN
fbem-31299	323	13	with	with	ADP
fbem-31299	323	14	long	long	ADJ
fbem-31299	323	15	-	-	PUNCT
fbem-31299	323	16	term	term	NOUN
fbem-31299	323	17	capital	capital	NOUN
fbem-31299	323	18	returns	return	NOUN
fbem-31299	323	19	.	.	PUNCT
fbem-31299	324	1	theoretical	theoretical	ADJ
fbem-31299	324	2	alignment	alignment	NOUN
fbem-31299	324	3	:	:	PUNCT
fbem-31299	324	4	these	these	DET
fbem-31299	324	5	results	result	NOUN
fbem-31299	324	6	resonate	resonate	VERB
fbem-31299	324	7	with	with	ADP
fbem-31299	324	8	dynamic	dynamic	ADJ
fbem-31299	324	9	capability	capability	NOUN
fbem-31299	324	10	theory	theory	NOUN
fbem-31299	324	11	[	[	X
fbem-31299	324	12	11	11	NUM
fbem-31299	324	13	]	]	PUNCT
fbem-31299	324	14	,	,	PUNCT
fbem-31299	324	15	highlighting	highlight	VERB
fbem-31299	324	16	fundamental	fundamental	ADJ
fbem-31299	324	17	differences	difference	NOUN
fbem-31299	324	18	in	in	ADP
fbem-31299	324	19	resilience	resilience	NOUN
fbem-31299	324	20	-	-	PUNCT
fbem-31299	324	21	building	building	NOUN
fbem-31299	324	22	paths	path	NOUN
fbem-31299	324	23	:	:	PUNCT
fbem-31299	324	24	traditional	traditional	ADJ
fbem-31299	324	25	industries	industry	NOUN
fbem-31299	324	26	:	:	PUNCT
fbem-31299	324	27	depend	depend	VERB
fbem-31299	324	28	on	on	ADP
fbem-31299	324	29	resource	resource	NOUN
fbem-31299	324	30	provision	provision	NOUN
fbem-31299	324	31	(	(	PUNCT
fbem-31299	324	32	e.g.	e.g.	ADV
fbem-31299	324	33	,	,	PUNCT
fbem-31299	324	34	patient	patient	ADJ
fbem-31299	324	35	capital	capital	NOUN
fbem-31299	324	36	)	)	PUNCT
fbem-31299	324	37	.	.	PUNCT
fbem-31299	325	1	emerging	emerge	VERB
fbem-31299	325	2	industries	industry	NOUN
fbem-31299	325	3	:	:	PUNCT
fbem-31299	325	4	emphasize	emphasize	VERB
fbem-31299	325	5	capability	capability	NOUN
fbem-31299	325	6	development	development	NOUN
fbem-31299	325	7	(	(	PUNCT
fbem-31299	325	8	e.g.	e.g.	ADV
fbem-31299	325	9	,	,	PUNCT
fbem-31299	325	10	technological	technological	ADJ
fbem-31299	325	11	innovation	innovation	NOUN
fbem-31299	325	12	)	)	PUNCT
fbem-31299	325	13	.	.	PUNCT
fbem-31299	326	1	future	future	ADJ
fbem-31299	326	2	research	research	NOUN
fbem-31299	326	3	directions	direction	NOUN
fbem-31299	326	4	:	:	PUNCT
fbem-31299	326	5	explore	explore	VERB
fbem-31299	326	6	the	the	DET
fbem-31299	326	7	matching	matching	NOUN
fbem-31299	326	8	mechanisms	mechanism	NOUN
fbem-31299	326	9	between	between	ADP
fbem-31299	326	10	industry	industry	NOUN
fbem-31299	326	11	characteristics	characteristic	NOUN
fbem-31299	326	12	and	and	CCONJ
fbem-31299	326	13	capital	capital	NOUN
fbem-31299	326	14	forms	form	NOUN
fbem-31299	326	15	to	to	PART
fbem-31299	326	16	refine	refine	VERB
fbem-31299	326	17	capital	capital	NOUN
fbem-31299	326	18	allocation	allocation	NOUN
fbem-31299	326	19	frameworks	framework	NOUN
fbem-31299	326	20	.	.	PUNCT
fbem-31299	327	1	table	table	NOUN
fbem-31299	327	2	11	11	NUM
fbem-31299	327	3	.	.	PUNCT
fbem-31299	328	1	heterogeneity	heterogeneity	NOUN
fbem-31299	328	2	test	test	NOUN
fbem-31299	328	3	digital	digital	ADJ
fbem-31299	328	4	economy	economy	NOUN
fbem-31299	328	5	core	core	NOUN
fbem-31299	328	6	industries	industry	NOUN
fbem-31299	328	7	non	non	ADJ
fbem-31299	328	8	-	-	ADJ
fbem-31299	328	9	digital	digital	ADJ
fbem-31299	328	10	economy	economy	NOUN
fbem-31299	328	11	core	core	NOUN
fbem-31299	328	12	industries	industry	NOUN
fbem-31299	328	13	high	high	ADJ
fbem-31299	328	14	-	-	PUNCT
fbem-31299	328	15	tech	tech	NOUN
fbem-31299	328	16	industries	industry	NOUN
fbem-31299	328	17	non	non	ADJ
fbem-31299	328	18	-	-	ADJ
fbem-31299	328	19	high	high	ADJ
fbem-31299	328	20	-	-	PUNCT
fbem-31299	328	21	tech	tech	NOUN
fbem-31299	328	22	industries	industry	NOUN
fbem-31299	328	23	invest	invest	VERB
fbem-31299	328	24	0.00162	0.00162	NUM
fbem-31299	328	25	0.0129	0.0129	NUM
fbem-31299	328	26	*	*	PUNCT
fbem-31299	328	27	*	*	PUNCT
fbem-31299	328	28	*	*	X
fbem-31299	328	29	-0.00985	-0.00985	NOUN
fbem-31299	328	30	0.0110	0.0110	NUM
fbem-31299	328	31	*	*	PUNCT
fbem-31299	328	32	*	*	PUNCT
fbem-31299	328	33	*	*	PUNCT
fbem-31299	328	34	(	(	PUNCT
fbem-31299	328	35	0.27	0.27	NUM
fbem-31299	328	36	)	)	PUNCT
fbem-31299	328	37	(	(	PUNCT
fbem-31299	328	38	4.43	4.43	NUM
fbem-31299	328	39	)	)	PUNCT
fbem-31299	328	40	(	(	PUNCT
fbem-31299	328	41	-0.81	-0.81	NOUN
fbem-31299	328	42	)	)	PUNCT
fbem-31299	328	43	(	(	PUNCT
fbem-31299	328	44	4.99	4.99	NUM
fbem-31299	328	45	)	)	PUNCT
fbem-31299	328	46	current	current	ADJ
fbem-31299	328	47	0.000677	0.000677	NUM
fbem-31299	328	48	0.0000424	0.0000424	NUM
fbem-31299	328	49	-0.000449	-0.000449	NOUN
fbem-31299	328	50	0.0000576	0.0000576	NUM
fbem-31299	328	51	(	(	PUNCT
fbem-31299	328	52	0.82	0.82	NUM
fbem-31299	328	53	)	)	PUNCT
fbem-31299	328	54	(	(	PUNCT
fbem-31299	328	55	0.32	0.32	NUM
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fbem-31299	328	62	)	)	PUNCT
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fbem-31299	328	72	*	*	PUNCT
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fbem-31299	328	79	(	(	PUNCT
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fbem-31299	328	81	)	)	PUNCT
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fbem-31299	328	84	)	)	PUNCT
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fbem-31299	328	87	)	)	PUNCT
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fbem-31299	328	90	)	)	PUNCT
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fbem-31299	329	10	)	)	PUNCT
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fbem-31299	329	13	)	)	PUNCT
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fbem-31299	329	16	)	)	PUNCT
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fbem-31299	329	28	)	)	PUNCT
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fbem-31299	329	31	)	)	PUNCT
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fbem-31299	329	34	)	)	PUNCT
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fbem-31299	329	37	)	)	PUNCT
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fbem-31299	329	43	(	(	PUNCT
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fbem-31299	329	45	)	)	PUNCT
fbem-31299	329	46	(	(	PUNCT
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fbem-31299	329	48	)	)	PUNCT
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fbem-31299	329	50	-0.54	-0.54	X
fbem-31299	329	51	)	)	PUNCT
fbem-31299	329	52	(	(	PUNCT
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fbem-31299	329	54	)	)	PUNCT
fbem-31299	329	55	bm	bm	PROPN
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fbem-31299	329	57	*	*	PUNCT
fbem-31299	329	58	*	*	PUNCT
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fbem-31299	329	65	0.00000138	0.00000138	NUM
fbem-31299	329	66	*	*	PUNCT
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fbem-31299	329	68	*	*	PUNCT
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fbem-31299	329	71	)	)	PUNCT
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fbem-31299	329	74	)	)	PUNCT
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fbem-31299	329	77	)	)	PUNCT
fbem-31299	329	78	(	(	PUNCT
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fbem-31299	329	80	)	)	PUNCT
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fbem-31299	329	88	)	)	PUNCT
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fbem-31299	329	91	)	)	PUNCT
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fbem-31299	329	94	)	)	PUNCT
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fbem-31299	329	97	)	)	PUNCT
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fbem-31299	330	1	0.0152	0.0152	NUM
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fbem-31299	330	18	)	)	PUNCT
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fbem-31299	330	24	(	(	PUNCT
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fbem-31299	330	26	)	)	PUNCT
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fbem-31299	330	29	)	)	PUNCT
fbem-31299	330	30	(	(	PUNCT
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fbem-31299	330	32	)	)	PUNCT
fbem-31299	330	33	(	(	PUNCT
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fbem-31299	330	35	)	)	PUNCT
fbem-31299	330	36	board	board	NOUN
fbem-31299	330	37	-0.00288	-0.00288	PUNCT
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fbem-31299	331	2	0.00734	0.00734	NUM
fbem-31299	331	3	*	*	PUNCT
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fbem-31299	331	5	(	(	PUNCT
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fbem-31299	331	7	)	)	PUNCT
fbem-31299	331	8	(	(	PUNCT
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fbem-31299	331	13	)	)	PUNCT
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fbem-31299	331	16	)	)	PUNCT
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fbem-31299	331	27	)	)	PUNCT
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fbem-31299	331	30	)	)	PUNCT
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fbem-31299	331	37	-0.00139	-0.00139	NOUN
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fbem-31299	331	39	(	(	PUNCT
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fbem-31299	331	41	)	)	PUNCT
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fbem-31299	331	44	)	)	PUNCT
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fbem-31299	331	47	)	)	PUNCT
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fbem-31299	331	50	)	)	PUNCT
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fbem-31299	332	20	)	)	PUNCT
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fbem-31299	342	8	0.361	0.361	NUM
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fbem-31299	342	15	t	t	NOUN
fbem-31299	342	16	statistics	statistic	NOUN
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fbem-31299	342	18	parentheses	parenthesis	NOUN
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fbem-31299	342	20	p	p	X
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fbem-31299	342	25	*	*	PUNCT
fbem-31299	343	1	p	p	X
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fbem-31299	344	9	6.1	6.1	NUM
fbem-31299	344	10	.	.	PUNCT
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fbem-31299	345	2	research	research	NOUN
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fbem-31299	345	5	study	study	NOUN
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fbem-31299	345	10	mechanism	mechanism	NOUN
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fbem-31299	345	14	on	on	ADP
fbem-31299	345	15	enterprise	enterprise	NOUN
fbem-31299	345	16	resilience	resilience	NOUN
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fbem-31299	345	18	data	datum	NOUN
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fbem-31299	345	24	manufacturing	manufacturing	NOUN
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fbem-31299	345	26	companies	company	NOUN
fbem-31299	345	27	from	from	ADP
fbem-31299	345	28	2013	2013	NUM
fbem-31299	345	29	to	to	ADP
fbem-31299	345	30	2023	2023	NUM
fbem-31299	345	31	,	,	PUNCT
fbem-31299	345	32	constructing	construct	VERB
fbem-31299	345	33	a	a	DET
fbem-31299	345	34	theoretical	theoretical	ADJ
fbem-31299	345	35	framework	framework	NOUN
fbem-31299	345	36	of	of	ADP
fbem-31299	345	37	"	"	PUNCT
fbem-31299	345	38	capital	capital	NOUN
fbem-31299	345	39	attributes	attribute	NOUN
fbem-31299	345	40	→	→	SYM
fbem-31299	345	41	capability	capability	NOUN
fbem-31299	345	42	-	-	PUNCT
fbem-31299	345	43	building	building	NOUN
fbem-31299	345	44	→	→	SYM
fbem-31299	345	45	resilience	resilience	NOUN
fbem-31299	345	46	generation	generation	NOUN
fbem-31299	345	47	.	.	PUNCT
fbem-31299	345	48	"	"	PUNCT
fbem-31299	346	1	the	the	DET
fbem-31299	346	2	findings	finding	NOUN
fbem-31299	346	3	reveal	reveal	VERB
fbem-31299	346	4	:	:	PUNCT
fbem-31299	346	5	first	first	ADV
fbem-31299	346	6	,	,	PUNCT
fbem-31299	346	7	as	as	ADP
fbem-31299	346	8	a	a	DET
fbem-31299	346	9	scarce	scarce	ADJ
fbem-31299	346	10	resource	resource	NOUN
fbem-31299	346	11	,	,	PUNCT
fbem-31299	346	12	patient	patient	ADJ
fbem-31299	346	13	capital	capital	NOUN
fbem-31299	346	14	significantly	significantly	ADV
fbem-31299	346	15	enhances	enhance	VERB
fbem-31299	346	16	enterprise	enterprise	NOUN
fbem-31299	346	17	resilience	resilience	NOUN
fbem-31299	346	18	(	(	PUNCT
fbem-31299	346	19	β	β	X
fbem-31299	346	20	=	=	SYM
fbem-31299	346	21	0.000102	0.000102	NUM
fbem-31299	346	22	,	,	PUNCT
fbem-31299	346	23	p	p	X
fbem-31299	346	24	<	<	X
fbem-31299	346	25	0.01	0.01	NUM
fbem-31299	346	26	)	)	PUNCT
fbem-31299	346	27	,	,	PUNCT
fbem-31299	346	28	validating	validate	VERB
fbem-31299	346	29	the	the	DET
fbem-31299	346	30	core	core	NOUN
fbem-31299	346	31	proposition	proposition	NOUN
fbem-31299	346	32	of	of	ADP
fbem-31299	346	33	resource	resource	NOUN
fbem-31299	346	34	-	-	PUNCT
fbem-31299	346	35	based	base	VERB
fbem-31299	346	36	theory	theory	NOUN
fbem-31299	346	37	.	.	PUNCT
fbem-31299	347	1	second	second	ADJ
fbem-31299	347	2	,	,	PUNCT
fbem-31299	347	3	mediation	mediation	NOUN
fbem-31299	347	4	analysis	analysis	NOUN
fbem-31299	347	5	identifies	identify	VERB
fbem-31299	347	6	two	two	NUM
fbem-31299	347	7	key	key	ADJ
fbem-31299	347	8	pathways	pathway	NOUN
fbem-31299	347	9	:	:	PUNCT
fbem-31299	347	10	improved	improve	VERB
fbem-31299	347	11	innovation	innovation	NOUN
fbem-31299	347	12	efficiency	efficiency	NOUN
fbem-31299	347	13	(	(	PUNCT
fbem-31299	347	14	β	β	X
fbem-31299	347	15	=	=	NOUN
fbem-31299	347	16	0.682	0.682	NUM
fbem-31299	347	17	)	)	PUNCT
fbem-31299	347	18	and	and	CCONJ
fbem-31299	347	19	alleviated	alleviate	VERB
fbem-31299	347	20	financing	financing	NOUN
fbem-31299	347	21	constraints	constraint	NOUN
fbem-31299	347	22	(	(	PUNCT
fbem-31299	347	23	β	β	X
fbem-31299	347	24	=	=	SYM
fbem-31299	347	25	-0.0462	-0.0462	NUM
fbem-31299	347	26	)	)	PUNCT
fbem-31299	347	27	,	,	PUNCT
fbem-31299	347	28	each	each	PRON
fbem-31299	347	29	contributing	contribute	VERB
fbem-31299	347	30	over	over	ADP
fbem-31299	347	31	30	30	NUM
fbem-31299	347	32	%	%	NOUN
fbem-31299	347	33	,	,	PUNCT
fbem-31299	347	34	demonstrating	demonstrate	VERB
fbem-31299	347	35	the	the	DET
fbem-31299	347	36	synergistic	synergistic	ADJ
fbem-31299	347	37	effects	effect	NOUN
fbem-31299	347	38	of	of	ADP
fbem-31299	347	39	capital	capital	NOUN
fbem-31299	347	40	support	support	NOUN
fbem-31299	347	41	,	,	PUNCT
fbem-31299	347	42	technological	technological	ADJ
fbem-31299	347	43	breakthroughs	breakthrough	NOUN
fbem-31299	347	44	,	,	PUNCT
fbem-31299	347	45	and	and	CCONJ
fbem-31299	347	46	financial	financial	ADJ
fbem-31299	347	47	stability	stability	NOUN
fbem-31299	347	48	.	.	PUNCT
fbem-31299	348	1	third	third	ADJ
fbem-31299	348	2	,	,	PUNCT
fbem-31299	348	3	moderation	moderation	NOUN
fbem-31299	348	4	analysis	analysis	NOUN
fbem-31299	348	5	shows	show	VERB
fbem-31299	348	6	that	that	SCONJ
fbem-31299	348	7	high	high	ADJ
fbem-31299	348	8	agency	agency	NOUN
fbem-31299	348	9	costs	cost	VERB
fbem-31299	348	10	116	116	NUM
fbem-31299	348	11	significantly	significantly	ADV
fbem-31299	348	12	weaken	weaken	VERB
fbem-31299	348	13	the	the	DET
fbem-31299	348	14	utility	utility	NOUN
fbem-31299	348	15	of	of	ADP
fbem-31299	348	16	patient	patient	ADJ
fbem-31299	348	17	capital	capital	NOUN
fbem-31299	348	18	(	(	PUNCT
fbem-31299	348	19	interaction	interaction	NOUN
fbem-31299	348	20	term	term	NOUN
fbem-31299	348	21	β	β	NOUN
fbem-31299	348	22	=	=	SYM
fbem-31299	348	23	-0.0669	-0.0669	NOUN
fbem-31299	348	24	)	)	PUNCT
fbem-31299	348	25	,	,	PUNCT
fbem-31299	348	26	providing	provide	VERB
fbem-31299	348	27	new	new	ADJ
fbem-31299	348	28	evidence	evidence	NOUN
fbem-31299	348	29	for	for	ADP
fbem-31299	348	30	agency	agency	NOUN
fbem-31299	348	31	theory	theory	NOUN
fbem-31299	348	32	.	.	PUNCT
fbem-31299	349	1	finally	finally	ADV
fbem-31299	349	2	,	,	PUNCT
fbem-31299	349	3	heterogeneity	heterogeneity	NOUN
fbem-31299	349	4	tests	test	NOUN
fbem-31299	349	5	indicate	indicate	VERB
fbem-31299	349	6	that	that	SCONJ
fbem-31299	349	7	patient	patient	ADJ
fbem-31299	349	8	capital	capital	NOUN
fbem-31299	349	9	has	have	VERB
fbem-31299	349	10	a	a	DET
fbem-31299	349	11	more	more	ADV
fbem-31299	349	12	pronounced	pronounced	ADJ
fbem-31299	349	13	effect	effect	NOUN
fbem-31299	349	14	on	on	ADP
fbem-31299	349	15	non	non	ADJ
fbem-31299	349	16	-	-	ADJ
fbem-31299	349	17	digital	digital	ADJ
fbem-31299	349	18	core	core	NOUN
fbem-31299	349	19	industries	industry	NOUN
fbem-31299	349	20	(	(	PUNCT
fbem-31299	349	21	β	β	X
fbem-31299	349	22	=	=	SYM
fbem-31299	349	23	0.0129	0.0129	NUM
fbem-31299	349	24	)	)	PUNCT
fbem-31299	349	25	and	and	CCONJ
fbem-31299	349	26	non	non	ADJ
fbem-31299	349	27	-	-	ADJ
fbem-31299	349	28	high	high	ADJ
fbem-31299	349	29	-	-	PUNCT
fbem-31299	349	30	tech	tech	NOUN
fbem-31299	349	31	enterprises	enterprise	NOUN
fbem-31299	349	32	(	(	PUNCT
fbem-31299	349	33	β	β	X
fbem-31299	349	34	=	=	SYM
fbem-31299	349	35	0.0110	0.0110	NUM
fbem-31299	349	36	)	)	PUNCT
fbem-31299	349	37	,	,	PUNCT
fbem-31299	349	38	highlighting	highlight	VERB
fbem-31299	349	39	the	the	DET
fbem-31299	349	40	importance	importance	NOUN
fbem-31299	349	41	of	of	ADP
fbem-31299	349	42	aligning	align	VERB
fbem-31299	349	43	capital	capital	NOUN
fbem-31299	349	44	allocation	allocation	NOUN
fbem-31299	349	45	with	with	ADP
fbem-31299	349	46	industry	industry	NOUN
fbem-31299	349	47	characteristics	characteristic	NOUN
fbem-31299	349	48	.	.	PUNCT
fbem-31299	350	1	these	these	DET
fbem-31299	350	2	findings	finding	NOUN
fbem-31299	350	3	not	not	PART
fbem-31299	350	4	only	only	ADV
fbem-31299	350	5	expand	expand	VERB
fbem-31299	350	6	the	the	DET
fbem-31299	350	7	financial	financial	ADJ
fbem-31299	350	8	economics	economic	NOUN
fbem-31299	350	9	perspective	perspective	NOUN
fbem-31299	350	10	in	in	ADP
fbem-31299	350	11	enterprise	enterprise	NOUN
fbem-31299	350	12	resilience	resilience	NOUN
fbem-31299	350	13	research	research	NOUN
fbem-31299	350	14	but	but	CCONJ
fbem-31299	350	15	also	also	ADV
fbem-31299	350	16	provide	provide	VERB
fbem-31299	350	17	empirical	empirical	ADJ
fbem-31299	350	18	support	support	NOUN
fbem-31299	350	19	for	for	SCONJ
fbem-31299	350	20	policymakers	policymaker	NOUN
fbem-31299	350	21	to	to	PART
fbem-31299	350	22	design	design	VERB
fbem-31299	350	23	differentiated	differentiated	ADJ
fbem-31299	350	24	capital	capital	NOUN
fbem-31299	350	25	guidance	guidance	NOUN
fbem-31299	350	26	strategies	strategy	NOUN
fbem-31299	350	27	,	,	PUNCT
fbem-31299	350	28	for	for	SCONJ
fbem-31299	350	29	enterprises	enterprise	NOUN
fbem-31299	350	30	to	to	PART
fbem-31299	350	31	optimize	optimize	VERB
fbem-31299	350	32	governance	governance	NOUN
fbem-31299	350	33	structures	structure	NOUN
fbem-31299	350	34	,	,	PUNCT
fbem-31299	350	35	and	and	CCONJ
fbem-31299	350	36	for	for	SCONJ
fbem-31299	350	37	investors	investor	NOUN
fbem-31299	350	38	to	to	PART
fbem-31299	350	39	make	make	VERB
fbem-31299	350	40	long	long	ADJ
fbem-31299	350	41	-	-	PUNCT
fbem-31299	350	42	term	term	NOUN
fbem-31299	350	43	value	value	NOUN
fbem-31299	350	44	-	-	PUNCT
fbem-31299	350	45	oriented	orient	VERB
fbem-31299	350	46	decisions	decision	NOUN
fbem-31299	350	47	.	.	PUNCT
fbem-31299	351	1	future	future	ADJ
fbem-31299	351	2	research	research	NOUN
fbem-31299	351	3	could	could	AUX
fbem-31299	351	4	further	far	ADV
fbem-31299	351	5	explore	explore	VERB
fbem-31299	351	6	the	the	DET
fbem-31299	351	7	dynamic	dynamic	ADJ
fbem-31299	351	8	evolution	evolution	NOUN
fbem-31299	351	9	of	of	ADP
fbem-31299	351	10	patient	patient	ADJ
fbem-31299	351	11	capital	capital	NOUN
fbem-31299	351	12	's	's	PART
fbem-31299	351	13	mechanisms	mechanism	NOUN
fbem-31299	351	14	in	in	ADP
fbem-31299	351	15	the	the	DET
fbem-31299	351	16	context	context	NOUN
fbem-31299	351	17	of	of	ADP
fbem-31299	351	18	digital	digital	ADJ
fbem-31299	351	19	transformation	transformation	NOUN
fbem-31299	351	20	.	.	PUNCT
fbem-31299	352	1	6.2	6.2	NUM
fbem-31299	352	2	.	.	PUNCT
fbem-31299	353	1	policy	policy	NOUN
fbem-31299	353	2	recommendations	recommendation	NOUN
fbem-31299	353	3	based	base	VERB
fbem-31299	353	4	on	on	ADP
fbem-31299	353	5	the	the	DET
fbem-31299	353	6	empirical	empirical	ADJ
fbem-31299	353	7	findings	finding	NOUN
fbem-31299	353	8	,	,	PUNCT
fbem-31299	353	9	this	this	DET
fbem-31299	353	10	study	study	NOUN
fbem-31299	353	11	proposes	propose	VERB
fbem-31299	353	12	systematic	systematic	ADJ
fbem-31299	353	13	policy	policy	NOUN
fbem-31299	353	14	recommendations	recommendation	NOUN
fbem-31299	353	15	at	at	ADP
fbem-31299	353	16	the	the	DET
fbem-31299	353	17	governmental	governmental	ADJ
fbem-31299	353	18	,	,	PUNCT
fbem-31299	353	19	corporate	corporate	ADJ
fbem-31299	353	20	,	,	PUNCT
fbem-31299	353	21	and	and	CCONJ
fbem-31299	353	22	investor	investor	NOUN
fbem-31299	353	23	levels	level	NOUN
fbem-31299	353	24	to	to	PART
fbem-31299	353	25	maximize	maximize	VERB
fbem-31299	353	26	the	the	DET
fbem-31299	353	27	role	role	NOUN
fbem-31299	353	28	of	of	ADP
fbem-31299	353	29	patient	patient	ADJ
fbem-31299	353	30	capital	capital	NOUN
fbem-31299	353	31	in	in	ADP
fbem-31299	353	32	enhancing	enhance	VERB
fbem-31299	353	33	enterprise	enterprise	NOUN
fbem-31299	353	34	resilience	resilience	NOUN
fbem-31299	353	35	.	.	PUNCT
fbem-31299	354	1	at	at	ADP
fbem-31299	354	2	the	the	DET
fbem-31299	354	3	governmental	governmental	ADJ
fbem-31299	354	4	level	level	NOUN
fbem-31299	354	5	,	,	PUNCT
fbem-31299	354	6	it	it	PRON
fbem-31299	354	7	is	be	AUX
fbem-31299	354	8	recommended	recommend	VERB
fbem-31299	354	9	to	to	PART
fbem-31299	354	10	implement	implement	VERB
fbem-31299	354	11	differentiated	differentiated	ADJ
fbem-31299	354	12	capital	capital	NOUN
fbem-31299	354	13	guidance	guidance	NOUN
fbem-31299	354	14	policies	policy	NOUN
fbem-31299	354	15	:	:	PUNCT
fbem-31299	354	16	for	for	ADP
fbem-31299	354	17	traditional	traditional	ADJ
fbem-31299	354	18	manufacturing	manufacturing	NOUN
fbem-31299	354	19	sectors	sector	NOUN
fbem-31299	354	20	reliant	reliant	ADJ
fbem-31299	354	21	on	on	ADP
fbem-31299	354	22	long	long	ADJ
fbem-31299	354	23	-	-	PUNCT
fbem-31299	354	24	term	term	NOUN
fbem-31299	354	25	capital	capital	NOUN
fbem-31299	354	26	,	,	PUNCT
fbem-31299	354	27	provide	provide	VERB
fbem-31299	354	28	targeted	targeted	ADJ
fbem-31299	354	29	support	support	NOUN
fbem-31299	354	30	through	through	ADP
fbem-31299	354	31	tax	tax	NOUN
fbem-31299	354	32	incentives	incentive	NOUN
fbem-31299	354	33	and	and	CCONJ
fbem-31299	354	34	specialized	specialized	ADJ
fbem-31299	354	35	funds	fund	NOUN
fbem-31299	354	36	.	.	PUNCT
fbem-31299	355	1	for	for	ADP
fbem-31299	355	2	high	high	ADJ
fbem-31299	355	3	-	-	PUNCT
fbem-31299	355	4	tech	tech	NOUN
fbem-31299	355	5	industries	industry	NOUN
fbem-31299	355	6	,	,	PUNCT
fbem-31299	355	7	focus	focus	VERB
fbem-31299	355	8	on	on	ADP
fbem-31299	355	9	building	build	VERB
fbem-31299	355	10	technology	technology	NOUN
fbem-31299	355	11	transfer	transfer	NOUN
fbem-31299	355	12	platforms	platform	NOUN
fbem-31299	355	13	and	and	CCONJ
fbem-31299	355	14	strengthening	strengthen	VERB
fbem-31299	355	15	intellectual	intellectual	ADJ
fbem-31299	355	16	property	property	NOUN
fbem-31299	355	17	protection	protection	NOUN
fbem-31299	355	18	.	.	PUNCT
fbem-31299	356	1	incorporate	incorporate	NOUN
fbem-31299	356	2	agency	agency	NOUN
fbem-31299	356	3	costs	cost	NOUN
fbem-31299	356	4	into	into	ADP
fbem-31299	356	5	policy	policy	NOUN
fbem-31299	356	6	evaluation	evaluation	NOUN
fbem-31299	356	7	systems	system	NOUN
fbem-31299	356	8	,	,	PUNCT
fbem-31299	356	9	offering	offer	VERB
fbem-31299	356	10	financing	financing	NOUN
fbem-31299	356	11	cost	cost	NOUN
fbem-31299	356	12	benefits	benefit	NOUN
fbem-31299	356	13	to	to	ADP
fbem-31299	356	14	firms	firm	NOUN
fbem-31299	356	15	with	with	ADP
fbem-31299	356	16	strong	strong	ADJ
fbem-31299	356	17	governance	governance	NOUN
fbem-31299	356	18	to	to	PART
fbem-31299	356	19	create	create	VERB
fbem-31299	356	20	a	a	DET
fbem-31299	356	21	virtuous	virtuous	ADJ
fbem-31299	356	22	cycle	cycle	NOUN
fbem-31299	356	23	of	of	ADP
fbem-31299	356	24	"	"	PUNCT
fbem-31299	356	25	policy	policy	NOUN
fbem-31299	356	26	guidance	guidance	NOUN
fbem-31299	356	27	→	→	PUNCT
fbem-31299	356	28	governance	governance	NOUN
fbem-31299	356	29	optimization	optimization	NOUN
fbem-31299	356	30	→	→	SYM
fbem-31299	356	31	capital	capital	NOUN
fbem-31299	356	32	efficiency	efficiency	NOUN
fbem-31299	356	33	.	.	PUNCT
fbem-31299	356	34	"	"	PUNCT
fbem-31299	357	1	at	at	ADP
fbem-31299	357	2	the	the	DET
fbem-31299	357	3	corporate	corporate	ADJ
fbem-31299	357	4	level	level	NOUN
fbem-31299	357	5	,	,	PUNCT
fbem-31299	357	6	a	a	DET
fbem-31299	357	7	dual	dual	ADJ
fbem-31299	357	8	-	-	PUNCT
fbem-31299	357	9	track	track	NOUN
fbem-31299	357	10	strategy	strategy	NOUN
fbem-31299	357	11	should	should	AUX
fbem-31299	357	12	be	be	AUX
fbem-31299	357	13	adopted	adopt	VERB
fbem-31299	357	14	:	:	PUNCT
fbem-31299	357	15	non	non	ADJ
fbem-31299	357	16	-	-	ADJ
fbem-31299	357	17	digital	digital	ADJ
fbem-31299	357	18	economy	economy	NOUN
fbem-31299	357	19	enterprises	enterprise	NOUN
fbem-31299	357	20	should	should	AUX
fbem-31299	357	21	actively	actively	ADV
fbem-31299	357	22	introduce	introduce	VERB
fbem-31299	357	23	strategic	strategic	ADJ
fbem-31299	357	24	investors	investor	NOUN
fbem-31299	357	25	and	and	CCONJ
fbem-31299	357	26	establish	establish	VERB
fbem-31299	357	27	long	long	ADJ
fbem-31299	357	28	-	-	PUNCT
fbem-31299	357	29	term	term	NOUN
fbem-31299	357	30	r&d	r&d	NOUN
fbem-31299	357	31	funds	fund	NOUN
fbem-31299	357	32	to	to	PART
fbem-31299	357	33	achieve	achieve	VERB
fbem-31299	357	34	deep	deep	ADJ
fbem-31299	357	35	synergy	synergy	NOUN
fbem-31299	357	36	between	between	ADP
fbem-31299	357	37	capital	capital	NOUN
fbem-31299	357	38	and	and	CCONJ
fbem-31299	357	39	innovation	innovation	NOUN
fbem-31299	357	40	.	.	PUNCT
fbem-31299	358	1	all	all	DET
fbem-31299	358	2	enterprises	enterprise	NOUN
fbem-31299	358	3	should	should	AUX
fbem-31299	358	4	reduce	reduce	VERB
fbem-31299	358	5	agency	agency	NOUN
fbem-31299	358	6	costs	cost	NOUN
fbem-31299	358	7	by	by	ADP
fbem-31299	358	8	optimizing	optimize	VERB
fbem-31299	358	9	board	board	NOUN
fbem-31299	358	10	structures	structure	NOUN
fbem-31299	358	11	,	,	PUNCT
fbem-31299	358	12	implementing	implement	VERB
fbem-31299	358	13	equity	equity	NOUN
fbem-31299	358	14	incentives	incentive	NOUN
fbem-31299	358	15	,	,	PUNCT
fbem-31299	358	16	and	and	CCONJ
fbem-31299	358	17	other	other	ADJ
fbem-31299	358	18	measures	measure	NOUN
fbem-31299	358	19	to	to	PART
fbem-31299	358	20	create	create	VERB
fbem-31299	358	21	an	an	DET
fbem-31299	358	22	institutional	institutional	ADJ
fbem-31299	358	23	environment	environment	NOUN
fbem-31299	358	24	conducive	conducive	ADJ
fbem-31299	358	25	to	to	PART
fbem-31299	358	26	value	value	VERB
fbem-31299	358	27	realization	realization	NOUN
fbem-31299	358	28	for	for	ADP
fbem-31299	358	29	patient	patient	ADJ
fbem-31299	358	30	capital	capital	NOUN
fbem-31299	358	31	.	.	PUNCT
fbem-31299	359	1	for	for	ADP
fbem-31299	359	2	investors	investor	NOUN
fbem-31299	359	3	,	,	PUNCT
fbem-31299	359	4	it	it	PRON
fbem-31299	359	5	is	be	AUX
fbem-31299	359	6	advised	advise	VERB
fbem-31299	359	7	to	to	PART
fbem-31299	359	8	develop	develop	VERB
fbem-31299	359	9	a	a	DET
fbem-31299	359	10	multi	multi	ADJ
fbem-31299	359	11	-	-	ADJ
fbem-31299	359	12	dimensional	dimensional	ADJ
fbem-31299	359	13	evaluation	evaluation	NOUN
fbem-31299	359	14	framework	framework	NOUN
fbem-31299	359	15	:	:	PUNCT
fbem-31299	359	16	beyond	beyond	ADP
fbem-31299	359	17	financial	financial	ADJ
fbem-31299	359	18	metrics	metric	NOUN
fbem-31299	359	19	,	,	PUNCT
fbem-31299	359	20	prioritize	prioritize	VERB
fbem-31299	359	21	assessing	assess	VERB
fbem-31299	359	22	firms	firm	NOUN
fbem-31299	359	23	'	'	PART
fbem-31299	359	24	dynamic	dynamic	ADJ
fbem-31299	359	25	capabilities	capability	NOUN
fbem-31299	359	26	(	(	PUNCT
fbem-31299	359	27	e.g.	e.g.	ADV
fbem-31299	359	28	,	,	PUNCT
fbem-31299	359	29	innovation	innovation	NOUN
fbem-31299	359	30	efficiency	efficiency	NOUN
fbem-31299	359	31	)	)	PUNCT
fbem-31299	359	32	and	and	CCONJ
fbem-31299	359	33	governance	governance	NOUN
fbem-31299	359	34	quality	quality	NOUN
fbem-31299	359	35	.	.	PUNCT
fbem-31299	360	1	adopt	adopt	VERB
fbem-31299	360	2	industry	industry	NOUN
fbem-31299	360	3	-	-	PUNCT
fbem-31299	360	4	specific	specific	ADJ
fbem-31299	360	5	asset	asset	NOUN
fbem-31299	360	6	allocation	allocation	NOUN
fbem-31299	360	7	strategies	strategy	NOUN
fbem-31299	360	8	—	—	PUNCT
fbem-31299	360	9	emphasizing	emphasize	VERB
fbem-31299	360	10	financial	financial	ADJ
fbem-31299	360	11	stability	stability	NOUN
fbem-31299	360	12	for	for	ADP
fbem-31299	360	13	traditional	traditional	ADJ
fbem-31299	360	14	manufacturing	manufacturing	NOUN
fbem-31299	360	15	and	and	CCONJ
fbem-31299	360	16	technological	technological	ADJ
fbem-31299	360	17	innovation	innovation	NOUN
fbem-31299	360	18	potential	potential	NOUN
fbem-31299	360	19	for	for	ADP
fbem-31299	360	20	high	high	ADJ
fbem-31299	360	21	-	-	PUNCT
fbem-31299	360	22	tech	tech	NOUN
fbem-31299	360	23	sectors	sector	NOUN
fbem-31299	360	24	.	.	PUNCT
fbem-31299	361	1	these	these	DET
fbem-31299	361	2	recommendations	recommendation	NOUN
fbem-31299	361	3	collectively	collectively	ADV
fbem-31299	361	4	form	form	VERB
fbem-31299	361	5	a	a	DET
fbem-31299	361	6	comprehensive	comprehensive	ADJ
fbem-31299	361	7	system	system	NOUN
fbem-31299	361	8	spanning	span	VERB
fbem-31299	361	9	macro	macro	NOUN
fbem-31299	361	10	-	-	NOUN
fbem-31299	361	11	policy	policy	NOUN
fbem-31299	361	12	to	to	ADP
fbem-31299	361	13	micropractice	micropractice	NOUN
fbem-31299	361	14	,	,	PUNCT
fbem-31299	361	15	providing	provide	VERB
fbem-31299	361	16	actionable	actionable	ADJ
fbem-31299	361	17	solutions	solution	NOUN
fbem-31299	361	18	to	to	PART
fbem-31299	361	19	enhance	enhance	VERB
fbem-31299	361	20	the	the	DET
fbem-31299	361	21	resilience	resilience	NOUN
fbem-31299	361	22	of	of	ADP
fbem-31299	361	23	china	china	PROPN
fbem-31299	361	24	's	's	PART
fbem-31299	361	25	manufacturing	manufacturing	NOUN
fbem-31299	361	26	sector	sector	NOUN
fbem-31299	361	27	.	.	PUNCT
fbem-31299	362	1	theoretical	theoretical	ADJ
fbem-31299	362	2	contributions	contribution	NOUN
fbem-31299	362	3	and	and	CCONJ
fbem-31299	362	4	practical	practical	ADJ
fbem-31299	362	5	implications	implication	NOUN
fbem-31299	362	6	this	this	DET
fbem-31299	362	7	study	study	NOUN
fbem-31299	362	8	integrates	integrate	VERB
fbem-31299	362	9	the	the	DET
fbem-31299	362	10	resource	resource	NOUN
fbem-31299	362	11	-	-	PUNCT
fbem-31299	362	12	based	base	VERB
fbem-31299	362	13	view	view	NOUN
fbem-31299	362	14	and	and	CCONJ
fbem-31299	362	15	dynamic	dynamic	ADJ
fbem-31299	362	16	capability	capability	NOUN
fbem-31299	362	17	theory	theory	NOUN
fbem-31299	362	18	to	to	PART
fbem-31299	362	19	construct	construct	VERB
fbem-31299	362	20	a	a	DET
fbem-31299	362	21	theoretical	theoretical	ADJ
fbem-31299	362	22	framework	framework	NOUN
fbem-31299	362	23	of	of	ADP
fbem-31299	362	24	"	"	PUNCT
fbem-31299	362	25	capital	capital	NOUN
fbem-31299	362	26	attributes	attribute	NOUN
fbem-31299	362	27	→	→	SYM
fbem-31299	362	28	capability	capability	NOUN
fbem-31299	362	29	-	-	PUNCT
fbem-31299	362	30	building	building	NOUN
fbem-31299	362	31	→	→	SYM
fbem-31299	362	32	resilience	resilience	NOUN
fbem-31299	362	33	generation	generation	NOUN
fbem-31299	362	34	"	"	PUNCT
fbem-31299	362	35	,	,	PUNCT
fbem-31299	362	36	addressing	address	VERB
fbem-31299	362	37	the	the	DET
fbem-31299	362	38	literature	literature	NOUN
fbem-31299	362	39	gap	gap	NOUN
fbem-31299	362	40	on	on	ADP
fbem-31299	362	41	the	the	DET
fbem-31299	362	42	dynamic	dynamic	ADJ
fbem-31299	362	43	effects	effect	NOUN
fbem-31299	362	44	of	of	ADP
fbem-31299	362	45	capital	capital	NOUN
fbem-31299	362	46	structure	structure	NOUN
fbem-31299	362	47	.	.	PUNCT
fbem-31299	363	1	from	from	ADP
fbem-31299	363	2	a	a	DET
fbem-31299	363	3	practical	practical	ADJ
fbem-31299	363	4	perspective	perspective	NOUN
fbem-31299	363	5	,	,	PUNCT
fbem-31299	363	6	it	it	PRON
fbem-31299	363	7	provides	provide	VERB
fbem-31299	363	8	empirical	empirical	ADJ
fbem-31299	363	9	evidence	evidence	NOUN
fbem-31299	363	10	for	for	ADP
fbem-31299	363	11	the	the	DET
fbem-31299	363	12	manufacturing	manufacturing	NOUN
fbem-31299	363	13	policy	policy	NOUN
fbem-31299	363	14	of	of	ADP
fbem-31299	363	15	"	"	PUNCT
fbem-31299	363	16	strengthening	strengthen	VERB
fbem-31299	363	17	advantages	advantage	NOUN
fbem-31299	363	18	and	and	CCONJ
fbem-31299	363	19	addressing	address	VERB
fbem-31299	363	20	weaknesses	weakness	NOUN
fbem-31299	363	21	"	"	PUNCT
fbem-31299	363	22	,	,	PUNCT
fbem-31299	363	23	highlighting	highlight	VERB
fbem-31299	363	24	the	the	DET
fbem-31299	363	25	importance	importance	NOUN
fbem-31299	363	26	of	of	ADP
fbem-31299	363	27	aligning	align	VERB
fbem-31299	363	28	capital	capital	NOUN
fbem-31299	363	29	allocation	allocation	NOUN
fbem-31299	363	30	with	with	ADP
fbem-31299	363	31	industry	industry	NOUN
fbem-31299	363	32	characteristics	characteristic	NOUN
fbem-31299	363	33	and	and	CCONJ
fbem-31299	363	34	governance	governance	NOUN
fbem-31299	363	35	efficiency	efficiency	NOUN
fbem-31299	363	36	.	.	PUNCT
fbem-31299	364	1	future	future	ADJ
fbem-31299	364	2	research	research	NOUN
fbem-31299	364	3	could	could	AUX
fbem-31299	364	4	further	far	ADV
fbem-31299	364	5	explore	explore	VERB
fbem-31299	364	6	:	:	PUNCT
fbem-31299	364	7	the	the	DET
fbem-31299	364	8	interaction	interaction	NOUN
fbem-31299	364	9	between	between	ADP
fbem-31299	364	10	patient	patient	ADJ
fbem-31299	364	11	capital	capital	NOUN
fbem-31299	364	12	and	and	CCONJ
fbem-31299	364	13	digital	digital	ADJ
fbem-31299	364	14	transformation	transformation	NOUN
fbem-31299	364	15	;	;	PUNCT
fbem-31299	364	16	heterogeneous	heterogeneous	ADJ
fbem-31299	364	17	effects	effect	NOUN
fbem-31299	364	18	across	across	ADP
fbem-31299	364	19	firms	firm	NOUN
fbem-31299	364	20	with	with	ADP
fbem-31299	364	21	different	different	ADJ
fbem-31299	364	22	ownership	ownership	NOUN
fbem-31299	364	23	structures	structure	NOUN
fbem-31299	364	24	.	.	PUNCT
fbem-31299	365	1	references	reference	NOUN
fbem-31299	365	2	[	[	X
fbem-31299	365	3	1	1	NUM
fbem-31299	365	4	]	]	PUNCT
fbem-31299	365	5	lin	lin	PROPN
fbem-31299	365	6	y.	y.	PROPN
fbem-31299	365	7	,	,	PUNCT
fbem-31299	365	8	wang	wang	PROPN
fbem-31299	365	9	y.	y.	PROPN
fbem-31299	365	10	new	new	ADJ
fbem-31299	365	11	structural	structural	ADJ
fbem-31299	365	12	economics	economic	NOUN
fbem-31299	365	13	:	:	PUNCT
fbem-31299	365	14	patient	patient	ADJ
fbem-31299	365	15	capital	capital	NOUN
fbem-31299	365	16	as	as	ADP
fbem-31299	365	17	a	a	DET
fbem-31299	365	18	comparative	comparative	ADJ
fbem-31299	365	19	advantage	advantage	NOUN
fbem-31299	366	1	[	[	X
fbem-31299	366	2	j	j	X
fbem-31299	366	3	]	]	X
fbem-31299	366	4	.	.	PUNCT
fbem-31299	367	1	development	development	NOUN
fbem-31299	367	2	finance	finance	PROPN
fbem-31299	367	3	research	research	NOUN
fbem-31299	367	4	,	,	PUNCT
fbem-31299	367	5	2017	2017	NUM
fbem-31299	367	6	.	.	PUNCT
fbem-31299	368	1	[	[	X
fbem-31299	368	2	2	2	NUM
fbem-31299	368	3	]	]	X
fbem-31299	368	4	fan	fan	PROPN
fbem-31299	368	5	h.	h.	PROPN
fbem-31299	368	6	,	,	PUNCT
fbem-31299	368	7	pan	pan	PROPN
fbem-31299	368	8	n.	n.	PROPN
fbem-31299	368	9	digital	digital	PROPN
fbem-31299	368	10	transformation	transformation	NOUN
fbem-31299	368	11	,	,	PUNCT
fbem-31299	368	12	agile	agile	ADJ
fbem-31299	368	13	response	response	NOUN
fbem-31299	368	14	and	and	CCONJ
fbem-31299	368	15	enterprise	enterprise	NOUN
fbem-31299	368	16	resilience	resilience	NOUN
fbem-31299	369	1	[	[	X
fbem-31299	369	2	j	j	X
fbem-31299	369	3	]	]	X
fbem-31299	369	4	.	.	PUNCT
fbem-31299	370	1	economic	economic	ADJ
fbem-31299	370	2	management	management	NOUN
fbem-31299	370	3	,	,	PUNCT
fbem-31299	370	4	2024	2024	NUM
fbem-31299	370	5	,	,	PUNCT
fbem-31299	370	6	46(07	46(07	NUM
fbem-31299	370	7	):	):	PUNCT
fbem-31299	370	8	36	36	NUM
fbem-31299	370	9	-	-	SYM
fbem-31299	370	10	54	54	NUM
fbem-31299	370	11	.	.	PUNCT
fbem-31299	371	1	[	[	X
fbem-31299	371	2	3	3	NUM
fbem-31299	371	3	]	]	X
fbem-31299	371	4	xiao	xiao	PROPN
fbem-31299	371	5	x.	x.	PROPN
fbem-31299	371	6	,	,	PUNCT
fbem-31299	371	7	lin	lin	PROPN
fbem-31299	371	8	y.	y.	PROPN
fbem-31299	371	9	esg	esg	PROPN
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fbem-31299	371	11	and	and	CCONJ
fbem-31299	371	12	enterprise	enterprise	NOUN
fbem-31299	371	13	resilience	resilience	NOUN
fbem-31299	371	14	:	:	PUNCT
fbem-31299	371	15	effects	effect	NOUN
fbem-31299	371	16	and	and	CCONJ
fbem-31299	371	17	mechanisms	mechanism	NOUN
fbem-31299	371	18	[	[	X
fbem-31299	371	19	j	j	X
fbem-31299	371	20	]	]	X
fbem-31299	371	21	.	.	PUNCT
fbem-31299	372	1	industrial	industrial	ADJ
fbem-31299	372	2	economic	economic	PROPN
fbem-31299	372	3	review	review	PROPN
fbem-31299	372	4	,	,	PUNCT
fbem-31299	372	5	2024	2024	NUM
fbem-31299	372	6	,	,	PUNCT
fbem-31299	372	7	(	(	PUNCT
fbem-31299	372	8	03	03	NUM
fbem-31299	372	9	):	):	PUNCT
fbem-31299	372	10	116	116	NUM
fbem-31299	372	11	-	-	SYM
fbem-31299	372	12	134	134	NUM
fbem-31299	372	13	.	.	PUNCT
fbem-31299	373	1	[	[	X
fbem-31299	373	2	4	4	NUM
fbem-31299	373	3	]	]	SYM
fbem-31299	373	4	hu	hu	PROPN
fbem-31299	373	5	h.	h.	PROPN
fbem-31299	373	6	,	,	PUNCT
fbem-31299	373	7	tian	tian	PROPN
fbem-31299	373	8	y.	y.	PROPN
fbem-31299	373	9	,	,	PUNCT
fbem-31299	373	10	wang	wang	PROPN
fbem-31299	373	11	a.	a.	PROPN
fbem-31299	373	12	,	,	PUNCT
fbem-31299	373	13	ma	ma	PROPN
fbem-31299	373	14	b.	b.	PROPN
fbem-31299	373	15	can	can	AUX
fbem-31299	373	16	internal	internal	ADJ
fbem-31299	373	17	capital	capital	NOUN
fbem-31299	373	18	markets	market	NOUN
fbem-31299	373	19	improve	improve	VERB
fbem-31299	373	20	enterprise	enterprise	NOUN
fbem-31299	373	21	resilience	resilience	NOUN
fbem-31299	373	22	?	?	PUNCT
fbem-31299	374	1	[	[	X
fbem-31299	374	2	j	j	X
fbem-31299	374	3	]	]	X
fbem-31299	374	4	.	.	PUNCT
fbem-31299	375	1	contemporary	contemporary	ADJ
fbem-31299	375	2	finance	finance	PROPN
fbem-31299	375	3	&	&	CCONJ
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fbem-31299	375	5	,	,	PUNCT
fbem-31299	375	6	2025	2025	NUM
fbem-31299	375	7	,	,	PUNCT
fbem-31299	375	8	(	(	PUNCT
fbem-31299	375	9	01	01	NUM
fbem-31299	375	10	):	):	PUNCT
fbem-31299	375	11	56	56	NUM
fbem-31299	375	12	-	-	SYM
fbem-31299	375	13	69	69	NUM
fbem-31299	375	14	.	.	PUNCT
fbem-31299	376	1	[	[	X
fbem-31299	376	2	5	5	NUM
fbem-31299	376	3	]	]	SYM
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fbem-31299	376	5	h.	h.	PROPN
fbem-31299	376	6	,	,	PUNCT
fbem-31299	376	7	song	song	PROPN
fbem-31299	376	8	x.	x.	PROPN
fbem-31299	376	9	,	,	PUNCT
fbem-31299	376	10	guo	guo	PROPN
fbem-31299	376	11	x.	x.	PROPN
fbem-31299	376	12	investor	investor	PROPN
fbem-31299	376	13	protection	protection	NOUN
fbem-31299	376	14	system	system	NOUN
fbem-31299	376	15	and	and	CCONJ
fbem-31299	376	16	enterprise	enterprise	NOUN
fbem-31299	376	17	resilience	resilience	NOUN
fbem-31299	376	18	:	:	PUNCT
fbem-31299	376	19	influence	influence	NOUN
fbem-31299	376	20	and	and	CCONJ
fbem-31299	376	21	mechanism	mechanism	NOUN
fbem-31299	376	22	[	[	X
fbem-31299	376	23	j	j	X
fbem-31299	376	24	]	]	X
fbem-31299	376	25	.	.	PUNCT
fbem-31299	377	1	economic	economic	ADJ
fbem-31299	377	2	management	management	NOUN
fbem-31299	377	3	,	,	PUNCT
fbem-31299	377	4	2020	2020	NUM
fbem-31299	377	5	,	,	PUNCT
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fbem-31299	377	7	):	):	PUNCT
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fbem-31299	377	11	.	.	PUNCT
fbem-31299	378	1	[	[	X
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fbem-31299	378	4	qiu	qiu	PROPN
fbem-31299	378	5	,	,	PUNCT
fbem-31299	378	6	r.	r.	PROPN
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fbem-31299	378	8	zhang	zhang	PROPN
fbem-31299	378	9	,	,	PUNCT
fbem-31299	378	10	m.	m.	NOUN
fbem-31299	378	11	,	,	PUNCT
fbem-31299	378	12	&	&	CCONJ
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fbem-31299	378	15	h.	h.	PROPN
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fbem-31299	378	17	concentration	concentration	NOUN
fbem-31299	378	18	and	and	CCONJ
fbem-31299	378	19	patient	patient	ADJ
fbem-31299	378	20	capital	capital	NOUN
fbem-31299	378	21	allocation	allocation	NOUN
fbem-31299	378	22	:	:	PUNCT
fbem-31299	378	23	an	an	DET
fbem-31299	378	24	instrumental	instrumental	ADJ
fbem-31299	378	25	variable	variable	ADJ
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fbem-31299	378	27	[	[	X
fbem-31299	378	28	j	j	X
fbem-31299	378	29	]	]	X
fbem-31299	378	30	.	.	PUNCT
fbem-31299	379	1	journal	journal	PROPN
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fbem-31299	379	4	research	research	NOUN
fbem-31299	379	5	,	,	PUNCT
fbem-31299	379	6	2024	2024	NUM
fbem-31299	379	7	,	,	PUNCT
fbem-31299	379	8	(	(	PUNCT
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fbem-31299	379	10	)	)	PUNCT
fbem-31299	379	11	,	,	PUNCT
fbem-31299	379	12	45	45	NUM
fbem-31299	379	13	-	-	SYM
fbem-31299	379	14	60	60	NUM
fbem-31299	379	15	..	..	PUNCT
fbem-31299	380	1	[	[	X
fbem-31299	380	2	7	7	X
fbem-31299	380	3	]	]	X
fbem-31299	380	4	wu	wu	PROPN
fbem-31299	380	5	m.	m.	NOUN
fbem-31299	380	6	,	,	PUNCT
fbem-31299	380	7	zhang	zhang	PROPN
fbem-31299	380	8	p.	p.	PROPN
fbem-31299	380	9	,	,	PUNCT
fbem-31299	380	10	zhao	zhao	PROPN
fbem-31299	380	11	z.	z.	PROPN
fbem-31299	381	1	the	the	DET
fbem-31299	381	2	impact	impact	NOUN
fbem-31299	381	3	of	of	ADP
fbem-31299	381	4	patient	patient	ADJ
fbem-31299	381	5	capital	capital	NOUN
fbem-31299	381	6	and	and	CCONJ
fbem-31299	381	7	innovation	innovation	NOUN
fbem-31299	381	8	investment	investment	NOUN
fbem-31299	381	9	on	on	ADP
fbem-31299	381	10	enterprise	enterprise	NOUN
fbem-31299	381	11	performance	performance	NOUN
fbem-31299	381	12	:	:	PUNCT
fbem-31299	381	13	evidence	evidence	NOUN
fbem-31299	381	14	from	from	ADP
fbem-31299	381	15	sme	sme	PROPN
fbem-31299	381	16	board	board	PROPN
fbem-31299	381	17	listed	list	VERB
fbem-31299	381	18	companies	company	NOUN
fbem-31299	382	1	[	[	X
fbem-31299	382	2	j	j	X
fbem-31299	382	3	]	]	X
fbem-31299	382	4	.	.	PUNCT
fbem-31299	383	1	scientific	scientific	ADJ
fbem-31299	383	2	decision	decision	NOUN
fbem-31299	383	3	making	making	NOUN
fbem-31299	383	4	,	,	PUNCT
fbem-31299	383	5	2022	2022	NUM
fbem-31299	383	6	,	,	PUNCT
fbem-31299	383	7	(	(	PUNCT
fbem-31299	383	8	09	09	NUM
fbem-31299	383	9	):	):	PUNCT
fbem-31299	383	10	55	55	NUM
fbem-31299	383	11	-	-	SYM
fbem-31299	383	12	72	72	NUM
fbem-31299	383	13	.	.	PUNCT
fbem-31299	384	1	[	[	X
fbem-31299	384	2	8	8	NUM
fbem-31299	384	3	]	]	X
fbem-31299	384	4	jiang	jiang	PROPN
fbem-31299	384	5	z.	z.	PROPN
fbem-31299	384	6	,	,	PUNCT
fbem-31299	384	7	wu	wu	PROPN
fbem-31299	384	8	f.	f.	PROPN
fbem-31299	384	9	patient	patient	PROPN
fbem-31299	384	10	capital	capital	PROPN
fbem-31299	384	11	,	,	PUNCT
fbem-31299	384	12	digital	digital	ADJ
fbem-31299	384	13	economy	economy	NOUN
fbem-31299	384	14	and	and	CCONJ
fbem-31299	384	15	innovation	innovation	NOUN
fbem-31299	384	16	efficiency	efficiency	NOUN
fbem-31299	384	17	:	:	PUNCT
fbem-31299	384	18	empirical	empirical	ADJ
fbem-31299	384	19	evidence	evidence	NOUN
fbem-31299	384	20	from	from	ADP
fbem-31299	384	21	a	a	DET
fbem-31299	384	22	-	-	PUNCT
fbem-31299	384	23	share	share	NOUN
fbem-31299	384	24	manufacturing	manufacturing	NOUN
fbem-31299	384	25	listed	list	VERB
fbem-31299	384	26	companies	company	NOUN
fbem-31299	384	27	[	[	X
fbem-31299	384	28	j	j	X
fbem-31299	384	29	]	]	X
fbem-31299	384	30	.	.	PUNCT
fbem-31299	385	1	journal	journal	PROPN
fbem-31299	385	2	of	of	ADP
fbem-31299	385	3	hohai	hohai	PROPN
fbem-31299	385	4	university	university	PROPN
fbem-31299	385	5	(	(	PUNCT
fbem-31299	385	6	philosophy	philosophy	NOUN
fbem-31299	385	7	and	and	CCONJ
fbem-31299	385	8	social	social	ADJ
fbem-31299	385	9	sciences	science	NOUN
fbem-31299	385	10	)	)	PUNCT
fbem-31299	385	11	,	,	PUNCT
fbem-31299	385	12	2024	2024	NUM
fbem-31299	385	13	,	,	PUNCT
fbem-31299	385	14	26(02	26(02	NUM
fbem-31299	385	15	):	):	PUNCT
fbem-31299	385	16	121	121	NUM
fbem-31299	385	17	-	-	SYM
fbem-31299	385	18	133	133	NUM
fbem-31299	385	19	.	.	PUNCT
fbem-31299	386	1	[	[	X
fbem-31299	386	2	9	9	NUM
fbem-31299	386	3	]	]	X
fbem-31299	386	4	deeg	deeg	PROPN
fbem-31299	386	5	r.	r.	PROPN
fbem-31299	386	6	,	,	PUNCT
fbem-31299	386	7	hardie	hardie	PROPN
fbem-31299	386	8	i.	i.	PROPN
fbem-31299	386	9	what	what	PRON
fbem-31299	386	10	is	be	AUX
fbem-31299	386	11	patient	patient	ADJ
fbem-31299	386	12	capital	capital	NOUN
fbem-31299	386	13	and	and	CCONJ
fbem-31299	386	14	who	who	PRON
fbem-31299	386	15	supplies	supply	VERB
fbem-31299	386	16	it	it	PRON
fbem-31299	386	17	?	?	PUNCT
fbem-31299	387	1	[	[	X
fbem-31299	387	2	j	j	X
fbem-31299	387	3	]	]	X
fbem-31299	387	4	.	.	PUNCT
fbem-31299	387	5	socio	socio	NOUN
fbem-31299	387	6	-	-	PUNCT
fbem-31299	387	7	economic	economic	ADJ
fbem-31299	387	8	review	review	NOUN
fbem-31299	387	9	,	,	PUNCT
fbem-31299	387	10	2016	2016	NUM
fbem-31299	387	11	,	,	PUNCT
fbem-31299	387	12	14(4	14(4	NUM
fbem-31299	387	13	)	)	PUNCT
fbem-31299	387	14	.	.	PUNCT
fbem-31299	388	1	[	[	X
fbem-31299	388	2	10	10	NUM
fbem-31299	388	3	]	]	X
fbem-31299	388	4	kaplan	kaplan	PROPN
fbem-31299	388	5	s	s	PROPN
fbem-31299	388	6	b.	b.	PROPN
fbem-31299	388	7	globalizing	globalize	VERB
fbem-31299	388	8	patient	patient	ADJ
fbem-31299	388	9	capital	capital	NOUN
fbem-31299	388	10	:	:	PUNCT
fbem-31299	388	11	the	the	DET
fbem-31299	388	12	political	political	ADJ
fbem-31299	388	13	economy	economy	NOUN
fbem-31299	388	14	of	of	ADP
fbem-31299	388	15	chinese	chinese	ADJ
fbem-31299	388	16	finance	finance	NOUN
fbem-31299	388	17	in	in	ADP
fbem-31299	388	18	the	the	DET
fbem-31299	388	19	americas	america	NOUN
fbem-31299	388	20	[	[	X
fbem-31299	388	21	m	m	X
fbem-31299	388	22	]	]	X
fbem-31299	388	23	.	.	PUNCT
fbem-31299	389	1	cambridge	cambridge	PROPN
fbem-31299	389	2	:	:	PUNCT
fbem-31299	389	3	cambridge	cambridge	PROPN
fbem-31299	389	4	university	university	PROPN
fbem-31299	389	5	press	press	NOUN
fbem-31299	389	6	,	,	PUNCT
fbem-31299	389	7	2021	2021	NUM
fbem-31299	389	8	.	.	PUNCT
fbem-31299	390	1	[	[	X
fbem-31299	390	2	11	11	NUM
fbem-31299	390	3	]	]	X
fbem-31299	390	4	teece	teece	PROPN
fbem-31299	390	5	d	d	PROPN
fbem-31299	390	6	j.	j.	PROPN
fbem-31299	390	7	,	,	PUNCT
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fbem-31299	390	9	g.	g.	PROPN
fbem-31299	390	10	,	,	PUNCT
fbem-31299	390	11	shuen	shuen	ADJ
fbem-31299	390	12	a.	a.	NOUN
fbem-31299	390	13	dynamic	dynamic	ADJ
fbem-31299	390	14	capabilities	capability	NOUN
fbem-31299	390	15	and	and	CCONJ
fbem-31299	390	16	strategic	strategic	ADJ
fbem-31299	390	17	management	management	NOUN
fbem-31299	391	1	[	[	X
fbem-31299	391	2	j	j	X
fbem-31299	391	3	]	]	X
fbem-31299	391	4	.	.	PUNCT
fbem-31299	392	1	strategic	strategic	ADJ
fbem-31299	392	2	management	management	NOUN
fbem-31299	392	3	journal	journal	NOUN
fbem-31299	392	4	,	,	PUNCT
fbem-31299	392	5	1997	1997	NUM
fbem-31299	392	6	,	,	PUNCT
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fbem-31299	392	8	):	):	PUNCT
fbem-31299	392	9	509	509	NUM
fbem-31299	392	10	-	-	SYM
fbem-31299	392	11	533	533	NUM
fbem-31299	392	12	.	.	PUNCT
fbem-31299	393	1	[	[	X
fbem-31299	393	2	12	12	NUM
fbem-31299	393	3	]	]	X
fbem-31299	393	4	van	van	PROPN
fbem-31299	393	5	der	der	NOUN
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fbem-31299	393	7	g	g	PROPN
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fbem-31299	393	9	,	,	PUNCT
fbem-31299	393	10	essens	essen	VERB
fbem-31299	393	11	p.	p.	PROPN
fbem-31299	393	12	,	,	PUNCT
fbem-31299	393	13	wahlström	wahlström	PROPN
fbem-31299	393	14	m.	m.	PROPN
fbem-31299	393	15	,	,	PUNCT
fbem-31299	393	16	george	george	PROPN
fbem-31299	393	17	g.	g.	PROPN
fbem-31299	393	18	managing	manage	VERB
fbem-31299	393	19	risk	risk	NOUN
fbem-31299	393	20	and	and	CCONJ
fbem-31299	393	21	resilience	resilience	NOUN
fbem-31299	394	1	[	[	X
fbem-31299	394	2	j	j	X
fbem-31299	394	3	]	]	X
fbem-31299	394	4	.	.	PUNCT
fbem-31299	395	1	academy	academy	PROPN
fbem-31299	395	2	of	of	ADP
fbem-31299	395	3	management	management	PROPN
fbem-31299	395	4	journal	journal	NOUN
fbem-31299	395	5	,	,	PUNCT
fbem-31299	395	6	2015	2015	NUM
fbem-31299	395	7	,	,	PUNCT
fbem-31299	395	8	58(4	58(4	NUM
fbem-31299	395	9	):	):	PUNCT
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fbem-31299	395	11	-	-	SYM
fbem-31299	395	12	980	980	NUM
fbem-31299	395	13	.	.	PUNCT
fbem-31299	396	1	[	[	X
fbem-31299	396	2	13	13	NUM
fbem-31299	396	3	]	]	PUNCT
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fbem-31299	396	5	k	k	PROPN
fbem-31299	396	6	v.	v.	PROPN
fbem-31299	396	7	,	,	PUNCT
fbem-31299	396	8	servaes	servaes	PROPN
fbem-31299	396	9	h.	h.	PROPN
fbem-31299	396	10	,	,	PUNCT
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fbem-31299	396	12	a.	a.	PROPN
fbem-31299	396	13	social	social	PROPN
fbem-31299	396	14	capital	capital	PROPN
fbem-31299	396	15	,	,	PUNCT
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fbem-31299	396	17	,	,	PUNCT
fbem-31299	396	18	and	and	CCONJ
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fbem-31299	396	20	performance	performance	NOUN
fbem-31299	396	21	:	:	PUNCT
fbem-31299	396	22	the	the	DET
fbem-31299	396	23	value	value	NOUN
fbem-31299	396	24	of	of	ADP
fbem-31299	396	25	corporate	corporate	ADJ
fbem-31299	396	26	social	social	ADJ
fbem-31299	396	27	responsibility	responsibility	NOUN
fbem-31299	396	28	during	during	ADP
fbem-31299	396	29	the	the	DET
fbem-31299	396	30	financial	financial	ADJ
fbem-31299	396	31	crisis	crisis	NOUN
fbem-31299	397	1	[	[	X
fbem-31299	397	2	j	j	X
fbem-31299	397	3	]	]	X
fbem-31299	397	4	.	.	PUNCT
fbem-31299	398	1	journal	journal	PROPN
fbem-31299	398	2	of	of	ADP
fbem-31299	398	3	finance	finance	NOUN
fbem-31299	398	4	,	,	PUNCT
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fbem-31299	398	6	,	,	PUNCT
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fbem-31299	398	8	):	):	PUNCT
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fbem-31299	398	10	-	-	SYM
fbem-31299	398	11	1824	1824	NUM
fbem-31299	398	12	.	.	PUNCT
fbem-31299	399	1	[	[	X
fbem-31299	399	2	14	14	NUM
fbem-31299	399	3	]	]	X
fbem-31299	399	4	luo	luo	PROPN
fbem-31299	399	5	l.	l.	PROPN
fbem-31299	399	6	,	,	PUNCT
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fbem-31299	399	8	l.	l.	PROPN
fbem-31299	399	9	,	,	PUNCT
fbem-31299	399	10	wang	wang	PROPN
fbem-31299	399	11	c.	c.	PROPN
fbem-31299	399	12	digital	digital	PROPN
fbem-31299	399	13	transformation	transformation	NOUN
fbem-31299	399	14	and	and	CCONJ
fbem-31299	399	15	enterprise	enterprise	NOUN
fbem-31299	399	16	resilience	resilience	NOUN
fbem-31299	399	17	:	:	PUNCT
fbem-31299	399	18	evidence	evidence	NOUN
fbem-31299	399	19	from	from	ADP
fbem-31299	399	20	china	china	PROPN
fbem-31299	399	21	's	's	PART
fbem-31299	399	22	a	a	DET
fbem-31299	399	23	-	-	PUNCT
fbem-31299	399	24	share	share	NOUN
fbem-31299	399	25	listed	list	VERB
fbem-31299	399	26	companies	company	NOUN
fbem-31299	399	27	[	[	X
fbem-31299	399	28	j	j	X
fbem-31299	399	29	]	]	X
fbem-31299	399	30	.	.	PUNCT
fbem-31299	400	1	reform	reform	NOUN
fbem-31299	400	2	,	,	PUNCT
fbem-31299	400	3	2024	2024	NUM
fbem-31299	400	4	,	,	PUNCT
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fbem-31299	400	6	05	05	NUM
fbem-31299	400	7	):	):	PUNCT
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fbem-31299	400	9	-	-	SYM
fbem-31299	400	10	79	79	NUM
fbem-31299	400	11	.	.	PUNCT
fbem-31299	401	1	[	[	X
fbem-31299	401	2	15	15	NUM
fbem-31299	401	3	]	]	X
fbem-31299	401	4	chen	chen	PROPN
fbem-31299	401	5	x.	x.	PROPN
fbem-31299	401	6	,	,	PUNCT
fbem-31299	401	7	liu	liu	PROPN
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fbem-31299	401	9	,	,	PUNCT
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fbem-31299	401	15	path	path	NOUN
fbem-31299	401	16	of	of	ADP
fbem-31299	401	17	digital	digital	ADJ
fbem-31299	401	18	economy	economy	NOUN
fbem-31299	401	19	to	to	PART
fbem-31299	401	20	enhance	enhance	VERB
fbem-31299	401	21	the	the	DET
fbem-31299	401	22	resilience	resilience	NOUN
fbem-31299	401	23	of	of	ADP
fbem-31299	401	24	china	china	PROPN
fbem-31299	401	25	's	's	PART
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fbem-31299	402	1	[	[	X
fbem-31299	402	2	j	j	X
fbem-31299	402	3	]	]	X
fbem-31299	402	4	.	.	PUNCT
fbem-31299	403	1	economic	economic	ADJ
fbem-31299	403	2	system	system	NOUN
fbem-31299	403	3	reform	reform	NOUN
fbem-31299	403	4	,	,	PUNCT
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fbem-31299	403	6	,	,	PUNCT
fbem-31299	403	7	(	(	PUNCT
fbem-31299	403	8	01	01	NUM
fbem-31299	403	9	):	):	PUNCT
fbem-31299	403	10	95	95	NUM
fbem-31299	403	11	-	-	SYM
fbem-31299	403	12	102	102	NUM
fbem-31299	403	13	.	.	PUNCT
fbem-31299	404	1	[	[	X
fbem-31299	404	2	16	16	NUM
fbem-31299	404	3	]	]	X
fbem-31299	404	4	wang	wang	PROPN
fbem-31299	404	5	h.	h.	PROPN
fbem-31299	404	6	,	,	PUNCT
fbem-31299	404	7	li	li	PROPN
fbem-31299	404	8	y.	y.	PROPN
fbem-31299	404	9	,	,	PUNCT
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fbem-31299	404	13	diversification	diversification	NOUN
fbem-31299	404	14	,	,	PUNCT
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fbem-31299	404	16	innovation	innovation	NOUN
fbem-31299	404	17	and	and	CCONJ
fbem-31299	404	18	enterprise	enterprise	NOUN
fbem-31299	404	19	resilience	resilience	NOUN
fbem-31299	404	20	:	:	PUNCT
fbem-31299	404	21	the	the	DET
fbem-31299	404	22	moderating	moderate	VERB
fbem-31299	404	23	role	role	NOUN
fbem-31299	404	24	of	of	ADP
fbem-31299	404	25	dual	dual	ADJ
fbem-31299	404	26	networks	network	NOUN
fbem-31299	404	27	[	[	X
fbem-31299	404	28	j	j	X
fbem-31299	404	29	]	]	X
fbem-31299	404	30	.	.	PUNCT
fbem-31299	405	1	science	science	PROPN
fbem-31299	405	2	&	&	CCONJ
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fbem-31299	405	5	and	and	CCONJ
fbem-31299	405	6	policy	policy	NOUN
fbem-31299	405	7	,	,	PUNCT
fbem-31299	405	8	2025	2025	NUM
fbem-31299	405	9	,	,	PUNCT
fbem-31299	405	10	42(03	42(03	NUM
fbem-31299	405	11	):	):	PUNCT
fbem-31299	405	12	50	50	NUM
fbem-31299	405	13	-	-	SYM
fbem-31299	405	14	61	61	NUM
fbem-31299	405	15	.	.	PUNCT
fbem-31299	406	1	[	[	X
fbem-31299	406	2	17	17	NUM
fbem-31299	406	3	]	]	X
fbem-31299	406	4	zhang	zhang	PROPN
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fbem-31299	406	6	,	,	PUNCT
fbem-31299	406	7	fan	fan	PROPN
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fbem-31299	406	11	and	and	CCONJ
fbem-31299	406	12	enterprise	enterprise	NOUN
fbem-31299	406	13	resilience	resilience	NOUN
fbem-31299	406	14	:	:	PUNCT
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fbem-31299	406	16	mechanisms	mechanism	NOUN
fbem-31299	406	17	and	and	CCONJ
fbem-31299	406	18	industrial	industrial	ADJ
fbem-31299	406	19	chain	chain	NOUN
fbem-31299	406	20	synergy	synergy	NOUN
fbem-31299	407	1	[	[	X
fbem-31299	407	2	j	j	X
fbem-31299	407	3	]	]	X
fbem-31299	407	4	.	.	PUNCT
fbem-31299	408	1	economic	economic	ADJ
fbem-31299	408	2	management	management	NOUN
fbem-31299	408	3	,	,	PUNCT
fbem-31299	408	4	2024	2024	NUM
fbem-31299	408	5	,	,	PUNCT
fbem-31299	408	6	46(05	46(05	NUM
fbem-31299	408	7	):	):	PUNCT
fbem-31299	408	8	51	51	NUM
fbem-31299	408	9	-	-	SYM
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fbem-31299	408	11	.	.	PUNCT
fbem-31299	409	1	117	117	NUM
fbem-31299	409	2	[	[	SYM
fbem-31299	409	3	18	18	NUM
fbem-31299	409	4	]	]	X
fbem-31299	409	5	fan	fan	PROPN
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fbem-31299	409	8	pan	pan	PROPN
fbem-31299	409	9	n.	n.	PROPN
fbem-31299	409	10	digital	digital	PROPN
fbem-31299	409	11	transformation	transformation	NOUN
fbem-31299	409	12	,	,	PUNCT
fbem-31299	409	13	agile	agile	ADJ
fbem-31299	409	14	response	response	NOUN
fbem-31299	409	15	and	and	CCONJ
fbem-31299	409	16	enterprise	enterprise	NOUN
fbem-31299	409	17	resilience	resilience	NOUN
fbem-31299	410	1	[	[	X
fbem-31299	410	2	j	j	X
fbem-31299	410	3	]	]	X
fbem-31299	410	4	.	.	PUNCT
fbem-31299	411	1	economic	economic	ADJ
fbem-31299	411	2	management	management	NOUN
fbem-31299	411	3	,	,	PUNCT
fbem-31299	411	4	2024	2024	NUM
fbem-31299	411	5	,	,	PUNCT
fbem-31299	411	6	46(07	46(07	NUM
fbem-31299	411	7	):	):	PUNCT
fbem-31299	411	8	36	36	NUM
fbem-31299	411	9	-	-	SYM
fbem-31299	411	10	54	54	NUM
fbem-31299	411	11	.	.	PUNCT
fbem-31299	412	1	[	[	X
fbem-31299	412	2	19	19	NUM
fbem-31299	412	3	]	]	X
fbem-31299	412	4	jiao	jiao	PROPN
fbem-31299	412	5	h.	h.	PROPN
fbem-31299	412	6	,	,	PUNCT
fbem-31299	412	7	wang	wang	PROPN
fbem-31299	412	8	l.	l.	PROPN
fbem-31299	412	9	,	,	PUNCT
fbem-31299	412	10	liu	liu	PROPN
fbem-31299	412	11	s.	s.	PROPN
fbem-31299	412	12	ceo	ceo	PROPN
fbem-31299	412	13	temporal	temporal	ADJ
fbem-31299	412	14	focus	focus	NOUN
fbem-31299	412	15	,	,	PUNCT
fbem-31299	412	16	attention	attention	NOUN
fbem-31299	412	17	allocation	allocation	NOUN
fbem-31299	412	18	and	and	CCONJ
fbem-31299	412	19	enterprise	enterprise	NOUN
fbem-31299	412	20	resilience	resilience	NOUN
fbem-31299	413	1	[	[	X
fbem-31299	413	2	j	j	X
fbem-31299	413	3	]	]	X
fbem-31299	413	4	.	.	PUNCT
fbem-31299	414	1	economic	economic	ADJ
fbem-31299	414	2	management	management	NOUN
fbem-31299	414	3	,	,	PUNCT
fbem-31299	414	4	2024	2024	NUM
fbem-31299	414	5	,	,	PUNCT
fbem-31299	414	6	46(07	46(07	NUM
fbem-31299	414	7	):	):	PUNCT
fbem-31299	414	8	91	91	NUM
fbem-31299	414	9	-	-	SYM
fbem-31299	414	10	108	108	NUM
fbem-31299	414	11	.	.	PUNCT
fbem-31299	415	1	[	[	X
fbem-31299	415	2	20	20	NUM
fbem-31299	415	3	]	]	PUNCT
fbem-31299	415	4	xiao	xiao	PROPN
fbem-31299	415	5	x.	x.	PROPN
fbem-31299	415	6	,	,	PUNCT
fbem-31299	415	7	lin	lin	PROPN
fbem-31299	415	8	y.	y.	PROPN
fbem-31299	415	9	esg	esg	PROPN
fbem-31299	415	10	performance	performance	NOUN
fbem-31299	415	11	and	and	CCONJ
fbem-31299	415	12	enterprise	enterprise	NOUN
fbem-31299	415	13	resilience	resilience	NOUN
fbem-31299	415	14	:	:	PUNCT
fbem-31299	415	15	effects	effect	NOUN
fbem-31299	415	16	and	and	CCONJ
fbem-31299	415	17	mechanisms	mechanism	NOUN
fbem-31299	415	18	[	[	X
fbem-31299	415	19	j	j	X
fbem-31299	415	20	]	]	X
fbem-31299	415	21	.	.	PUNCT
fbem-31299	416	1	industrial	industrial	ADJ
fbem-31299	416	2	economic	economic	PROPN
fbem-31299	416	3	review	review	PROPN
fbem-31299	416	4	,	,	PUNCT
fbem-31299	416	5	2024	2024	NUM
fbem-31299	416	6	,	,	PUNCT
fbem-31299	416	7	(	(	PUNCT
fbem-31299	416	8	03	03	NUM
fbem-31299	416	9	):	):	PUNCT
fbem-31299	416	10	116	116	NUM
fbem-31299	416	11	-	-	SYM
fbem-31299	416	12	134	134	NUM
fbem-31299	416	13	.	.	PUNCT
fbem-31299	417	1	[	[	X
fbem-31299	417	2	21	21	NUM
fbem-31299	417	3	]	]	X
fbem-31299	417	4	jia	jia	PROPN
fbem-31299	417	5	y.	y.	PROPN
fbem-31299	417	6	,	,	PUNCT
fbem-31299	417	7	fu	fu	PROPN
fbem-31299	417	8	q.	q.	PROPN
fbem-31299	417	9	,	,	PUNCT
fbem-31299	417	10	li	li	PROPN
fbem-31299	417	11	d.	d.	PROPN
fbem-31299	417	12	technological	technological	ADJ
fbem-31299	417	13	innovation	innovation	NOUN
fbem-31299	417	14	and	and	CCONJ
fbem-31299	417	15	enterprise	enterprise	NOUN
fbem-31299	417	16	resilience	resilience	NOUN
fbem-31299	417	17	:	:	PUNCT
fbem-31299	417	18	based	base	VERB
fbem-31299	417	19	on	on	ADP
fbem-31299	417	20	the	the	DET
fbem-31299	417	21	context	context	NOUN
fbem-31299	417	22	of	of	ADP
fbem-31299	417	23	covid-19	covid-19	PROPN
fbem-31299	417	24	[	[	X
fbem-31299	417	25	j	j	X
fbem-31299	417	26	]	]	X
fbem-31299	417	27	.	.	PUNCT
fbem-31299	418	1	management	management	NOUN
fbem-31299	418	2	science	science	NOUN
fbem-31299	418	3	,	,	PUNCT
fbem-31299	418	4	2023	2023	NUM
fbem-31299	418	5	,	,	PUNCT
fbem-31299	418	6	36(02	36(02	NUM
fbem-31299	418	7	):	):	PUNCT
fbem-31299	418	8	17	17	NUM
fbem-31299	418	9	-	-	SYM
fbem-31299	418	10	34	34	NUM
fbem-31299	418	11	.	.	PUNCT
fbem-31299	419	1	[	[	X
fbem-31299	419	2	22	22	NUM
fbem-31299	419	3	]	]	X
fbem-31299	419	4	zhang	zhang	PROPN
fbem-31299	419	5	h.	h.	PROPN
fbem-31299	419	6	,	,	PUNCT
fbem-31299	419	7	huang	huang	PROPN
fbem-31299	419	8	q.	q.	PROPN
fbem-31299	419	9	research	research	PROPN
fbem-31299	419	10	on	on	ADP
fbem-31299	419	11	the	the	DET
fbem-31299	419	12	influence	influence	NOUN
fbem-31299	419	13	mechanism	mechanism	NOUN
fbem-31299	419	14	of	of	ADP
fbem-31299	419	15	executive	executive	ADJ
fbem-31299	419	16	team	team	NOUN
fbem-31299	419	17	characteristics	characteristic	NOUN
fbem-31299	419	18	on	on	ADP
fbem-31299	419	19	enterprise	enterprise	NOUN
fbem-31299	419	20	strategic	strategic	ADJ
fbem-31299	419	21	change	change	NOUN
fbem-31299	419	22	:	:	PUNCT
fbem-31299	419	23	from	from	ADP
fbem-31299	419	24	the	the	DET
fbem-31299	419	25	perspective	perspective	NOUN
fbem-31299	419	26	of	of	ADP
fbem-31299	419	27	environmental	environmental	ADJ
fbem-31299	419	28	dynamism	dynamism	NOUN
fbem-31299	420	1	[	[	X
fbem-31299	420	2	j	j	X
fbem-31299	420	3	]	]	X
fbem-31299	420	4	.	.	PUNCT
fbem-31299	421	1	enterprise	enterprise	NOUN
fbem-31299	421	2	economy	economy	NOUN
fbem-31299	421	3	,	,	PUNCT
fbem-31299	421	4	2022	2022	NUM
fbem-31299	421	5	,	,	PUNCT
fbem-31299	421	6	41(07	41(07	NUM
fbem-31299	421	7	):	):	PUNCT
fbem-31299	421	8	76	76	NUM
fbem-31299	421	9	-	-	SYM
fbem-31299	421	10	86	86	NUM
fbem-31299	421	11	.	.	PUNCT
fbem-31299	422	1	[	[	X
fbem-31299	422	2	23	23	NUM
fbem-31299	422	3	]	]	X
fbem-31299	422	4	zhang	zhang	PROPN
fbem-31299	422	5	l.	l.	PROPN
fbem-31299	422	6	,	,	PUNCT
fbem-31299	422	7	wang	wang	PROPN
fbem-31299	422	8	s.	s.	PROPN
fbem-31299	422	9	research	research	PROPN
fbem-31299	422	10	on	on	ADP
fbem-31299	422	11	the	the	DET
fbem-31299	422	12	impact	impact	NOUN
fbem-31299	422	13	of	of	ADP
fbem-31299	422	14	technology	technology	NOUN
fbem-31299	422	15	supply	supply	NOUN
fbem-31299	422	16	disruption	disruption	NOUN
fbem-31299	422	17	on	on	ADP
fbem-31299	422	18	enterprise	enterprise	NOUN
fbem-31299	422	19	resilience	resilience	NOUN
fbem-31299	423	1	[	[	X
fbem-31299	423	2	j	j	X
fbem-31299	423	3	]	]	X
fbem-31299	423	4	.	.	PUNCT
fbem-31299	424	1	journal	journal	PROPN
fbem-31299	424	2	of	of	ADP
fbem-31299	424	3	zhongnan	zhongnan	PROPN
fbem-31299	424	4	university	university	PROPN
fbem-31299	424	5	of	of	ADP
fbem-31299	424	6	economics	economic	NOUN
fbem-31299	424	7	and	and	CCONJ
fbem-31299	424	8	law	law	NOUN
fbem-31299	424	9	,	,	PUNCT
fbem-31299	424	10	2023	2023	NUM
fbem-31299	424	11	,	,	PUNCT
fbem-31299	424	12	(	(	PUNCT
fbem-31299	424	13	06	06	NUM
fbem-31299	424	14	):	):	PUNCT
fbem-31299	424	15	102114	102114	NUM
fbem-31299	424	16	.	.	PUNCT
fbem-31299	425	1	[	[	X
fbem-31299	425	2	24	24	NUM
fbem-31299	425	3	]	]	X
fbem-31299	425	4	yang	yang	PROPN
fbem-31299	425	5	l.	l.	PROPN
fbem-31299	425	6	,	,	PUNCT
fbem-31299	425	7	wang	wang	PROPN
fbem-31299	425	8	z.	z.	PROPN
fbem-31299	425	9	,	,	PUNCT
fbem-31299	425	10	li	li	PROPN
fbem-31299	425	11	y.	y.	PROPN
fbem-31299	425	12	social	social	ADJ
fbem-31299	425	13	credit	credit	NOUN
fbem-31299	425	14	and	and	CCONJ
fbem-31299	425	15	enterprise	enterprise	NOUN
fbem-31299	425	16	resilience	resilience	NOUN
fbem-31299	425	17	:	:	PUNCT
fbem-31299	425	18	a	a	DET
fbem-31299	425	19	quasi	quasi	ADJ
fbem-31299	425	20	-	-	ADJ
fbem-31299	425	21	natural	natural	ADJ
fbem-31299	425	22	experiment	experiment	NOUN
fbem-31299	425	23	based	base	VERB
fbem-31299	425	24	on	on	ADP
fbem-31299	425	25	social	social	ADJ
fbem-31299	425	26	credit	credit	NOUN
fbem-31299	425	27	system	system	NOUN
fbem-31299	425	28	reform	reform	NOUN
fbem-31299	425	29	pilot	pilot	NOUN
fbem-31299	425	30	[	[	X
fbem-31299	425	31	j	j	X
fbem-31299	425	32	]	]	X
fbem-31299	425	33	.	.	PUNCT
fbem-31299	426	1	scientific	scientific	ADJ
fbem-31299	426	2	decision	decision	NOUN
fbem-31299	426	3	making	making	NOUN
fbem-31299	426	4	,	,	PUNCT
fbem-31299	426	5	2024	2024	NUM
fbem-31299	426	6	,	,	PUNCT
fbem-31299	426	7	(	(	PUNCT
fbem-31299	426	8	03	03	NUM
fbem-31299	426	9	):	):	PUNCT
fbem-31299	426	10	45	45	NUM
fbem-31299	426	11	-	-	SYM
fbem-31299	426	12	56	56	NUM
fbem-31299	426	13	.	.	PUNCT
fbem-31299	427	1	[	[	X
fbem-31299	427	2	25	25	NUM
fbem-31299	427	3	]	]	X
fbem-31299	427	4	fan	fan	PROPN
fbem-31299	427	5	h.	h.	PROPN
fbem-31299	427	6	,	,	PUNCT
fbem-31299	427	7	pan	pan	PROPN
fbem-31299	427	8	n.	n.	PROPN
fbem-31299	427	9	digital	digital	PROPN
fbem-31299	427	10	transformation	transformation	NOUN
fbem-31299	427	11	,	,	PUNCT
fbem-31299	427	12	agile	agile	ADJ
fbem-31299	427	13	response	response	NOUN
fbem-31299	427	14	and	and	CCONJ
fbem-31299	427	15	enterprise	enterprise	NOUN
fbem-31299	427	16	resilience	resilience	NOUN
fbem-31299	428	1	[	[	X
fbem-31299	428	2	j	j	X
fbem-31299	428	3	]	]	X
fbem-31299	428	4	.	.	PUNCT
fbem-31299	429	1	economic	economic	ADJ
fbem-31299	429	2	management	management	NOUN
fbem-31299	429	3	,	,	PUNCT
fbem-31299	429	4	2024	2024	NUM
fbem-31299	429	5	,	,	PUNCT
fbem-31299	429	6	46(07	46(07	NUM
fbem-31299	429	7	):	):	PUNCT
fbem-31299	429	8	36	36	NUM
fbem-31299	429	9	-	-	SYM
fbem-31299	429	10	54	54	NUM
fbem-31299	429	11	.	.	PUNCT
fbem-31299	430	1	[	[	X
fbem-31299	430	2	26	26	NUM
fbem-31299	430	3	]	]	X
fbem-31299	430	4	cai	cai	PROPN
fbem-31299	430	5	x.	x.	PROPN
fbem-31299	430	6	,	,	PUNCT
fbem-31299	430	7	xia	xia	PROPN
fbem-31299	430	8	y.	y.	PROPN
fbem-31299	430	9	,	,	PUNCT
fbem-31299	430	10	xue	xue	PROPN
fbem-31299	430	11	l.	l.	PROPN
fbem-31299	430	12	construction	construction	PROPN
fbem-31299	430	13	,	,	PUNCT
fbem-31299	430	14	measurement	measurement	NOUN
fbem-31299	430	15	and	and	CCONJ
fbem-31299	430	16	test	test	NOUN
fbem-31299	430	17	of	of	ADP
fbem-31299	430	18	enterprise	enterprise	NOUN
fbem-31299	430	19	resilience	resilience	NOUN
fbem-31299	430	20	index	index	NOUN
fbem-31299	430	21	:	:	PUNCT
fbem-31299	430	22	based	base	VERB
fbem-31299	430	23	on	on	ADP
fbem-31299	430	24	data	datum	NOUN
fbem-31299	430	25	from	from	ADP
fbem-31299	430	26	a	a	DET
fbem-31299	430	27	-	-	PUNCT
fbem-31299	430	28	share	share	NOUN
fbem-31299	430	29	listed	list	VERB
fbem-31299	430	30	companies	company	NOUN
fbem-31299	430	31	[	[	X
fbem-31299	430	32	j	j	X
fbem-31299	430	33	]	]	X
fbem-31299	430	34	.	.	PUNCT
fbem-31299	431	1	scientific	scientific	ADJ
fbem-31299	431	2	decision	decision	NOUN
fbem-31299	431	3	making	making	NOUN
fbem-31299	431	4	,	,	PUNCT
fbem-31299	431	5	2024	2024	NUM
fbem-31299	431	6	,	,	PUNCT
fbem-31299	431	7	(	(	PUNCT
fbem-31299	431	8	03	03	NUM
fbem-31299	431	9	):	):	PUNCT
fbem-31299	431	10	57	57	NUM
fbem-31299	431	11	-	-	SYM
fbem-31299	431	12	74	74	NUM
fbem-31299	431	13	.	.	PUNCT
fbem-31299	432	1	[	[	X
fbem-31299	432	2	27	27	NUM
fbem-31299	432	3	]	]	X
fbem-31299	432	4	yang	yang	PROPN
fbem-31299	432	5	g.	g.	PROPN
fbem-31299	432	6	,	,	PUNCT
fbem-31299	432	7	tang	tang	PROPN
fbem-31299	432	8	l.	l.	PROPN
fbem-31299	432	9	the	the	DET
fbem-31299	432	10	impact	impact	NOUN
fbem-31299	432	11	of	of	ADP
fbem-31299	432	12	patient	patient	ADJ
fbem-31299	432	13	capital	capital	NOUN
fbem-31299	432	14	on	on	ADP
fbem-31299	432	15	enterprise	enterprise	NOUN
fbem-31299	432	16	resilience	resilience	NOUN
fbem-31299	433	1	[	[	X
fbem-31299	433	2	j	j	X
fbem-31299	433	3	]	]	X
fbem-31299	433	4	.	.	PUNCT
fbem-31299	434	1	finance	finance	PROPN
fbem-31299	434	2	&	&	CCONJ
fbem-31299	434	3	economics	economic	NOUN
fbem-31299	434	4	,	,	PUNCT
fbem-31299	434	5	2025	2025	NUM
fbem-31299	434	6	,	,	PUNCT
fbem-31299	434	7	(	(	PUNCT
fbem-31299	434	8	03	03	NUM
fbem-31299	434	9	):	):	PUNCT
fbem-31299	434	10	15	15	NUM
fbem-31299	434	11	-	-	SYM
fbem-31299	434	12	29	29	NUM
fbem-31299	434	13	.	.	PUNCT
fbem-31299	435	1	[	[	X
fbem-31299	435	2	28	28	NUM
fbem-31299	435	3	]	]	X
fbem-31299	435	4	chen	chen	PROPN
fbem-31299	435	5	y.	y.	PROPN
fbem-31299	435	6	,	,	PUNCT
fbem-31299	435	7	chen	chen	PROPN
fbem-31299	435	8	w.	w.	PROPN
fbem-31299	435	9	the	the	DET
fbem-31299	435	10	internal	internal	ADJ
fbem-31299	435	11	mechanism	mechanism	NOUN
fbem-31299	435	12	and	and	CCONJ
fbem-31299	435	13	realization	realization	NOUN
fbem-31299	435	14	path	path	NOUN
fbem-31299	435	15	of	of	ADP
fbem-31299	435	16	patient	patient	ADJ
fbem-31299	435	17	capital	capital	NOUN
fbem-31299	435	18	empowering	empower	VERB
fbem-31299	435	19	enterprise	enterprise	NOUN
fbem-31299	435	20	original	original	ADJ
fbem-31299	435	21	innovation	innovation	NOUN
fbem-31299	435	22	[	[	X
fbem-31299	435	23	j	j	X
fbem-31299	435	24	]	]	X
fbem-31299	435	25	.	.	PUNCT
fbem-31299	436	1	friends	friend	NOUN
fbem-31299	436	2	of	of	ADP
fbem-31299	436	3	accounting	accounting	NOUN
fbem-31299	436	4	,	,	PUNCT
fbem-31299	436	5	2025	2025	NUM
fbem-31299	436	6	,	,	PUNCT
fbem-31299	436	7	(	(	PUNCT
fbem-31299	436	8	06	06	NUM
fbem-31299	436	9	):	):	PUNCT
fbem-31299	436	10	32	32	NUM
fbem-31299	436	11	-	-	SYM
fbem-31299	436	12	35	35	NUM
fbem-31299	436	13	.	.	PUNCT
fbem-31299	437	1	[	[	X
fbem-31299	437	2	29	29	NUM
fbem-31299	437	3	]	]	X
fbem-31299	437	4	o'brien	o'brien	PROPN
fbem-31299	437	5	d.	d.	PROPN
fbem-31299	437	6	,	,	PUNCT
fbem-31299	437	7	hill	hill	PROPN
fbem-31299	437	8	p.	p.	PROPN
fbem-31299	437	9	,	,	PUNCT
fbem-31299	437	10	wright	wright	PROPN
fbem-31299	437	11	m.	m.	PROPN
fbem-31299	437	12	the	the	DET
fbem-31299	437	13	journal	journal	NOUN
fbem-31299	437	14	of	of	ADP
fbem-31299	437	15	finance	finance	NOUN
fbem-31299	437	16	[	[	X
fbem-31299	437	17	j	j	X
fbem-31299	437	18	]	]	X
fbem-31299	437	19	,	,	PUNCT
fbem-31299	437	20	2014	2014	NUM
fbem-31299	437	21	,	,	PUNCT
fbem-31299	437	22	69(3	69(3	NUM
fbem-31299	437	23	):	):	PUNCT
fbem-31299	437	24	1285	1285	NUM
fbem-31299	437	25	-	-	SYM
fbem-31299	437	26	1324	1324	NUM
fbem-31299	437	27	.	.	PUNCT
fbem-31299	438	1	[	[	X
fbem-31299	438	2	30	30	NUM
fbem-31299	438	3	]	]	X
fbem-31299	438	4	wang	wang	PROPN
fbem-31299	438	5	b.	b.	PROPN
fbem-31299	438	6	,	,	PUNCT
fbem-31299	438	7	xie	xie	PROPN
fbem-31299	438	8	w.	w.	PROPN
fbem-31299	438	9	,	,	PUNCT
fbem-31299	438	10	zeng	zeng	PROPN
fbem-31299	438	11	c.	c.	PROPN
fbem-31299	438	12	institutional	institutional	PROPN
fbem-31299	438	13	ownership	ownership	NOUN
fbem-31299	438	14	,	,	PUNCT
fbem-31299	438	15	corporate	corporate	ADJ
fbem-31299	438	16	governance	governance	NOUN
fbem-31299	438	17	and	and	CCONJ
fbem-31299	438	18	r&d	r&d	NOUN
fbem-31299	438	19	investment	investment	NOUN
fbem-31299	438	20	of	of	ADP
fbem-31299	438	21	listed	list	VERB
fbem-31299	438	22	companies	company	NOUN
fbem-31299	438	23	:	:	PUNCT
fbem-31299	438	24	empirical	empirical	ADJ
fbem-31299	438	25	evidence	evidence	NOUN
fbem-31299	438	26	from	from	ADP
fbem-31299	438	27	chinese	chinese	ADJ
fbem-31299	438	28	listed	list	VERB
fbem-31299	438	29	companies	company	NOUN
fbem-31299	438	30	[	[	X
fbem-31299	438	31	j	j	X
fbem-31299	438	32	]	]	X
fbem-31299	438	33	.	.	PUNCT
fbem-31299	439	1	science	science	PROPN
fbem-31299	439	2	&	&	CCONJ
fbem-31299	439	3	technology	technology	PROPN
fbem-31299	439	4	progress	progress	NOUN
fbem-31299	439	5	and	and	CCONJ
fbem-31299	439	6	policy	policy	NOUN
fbem-31299	439	7	,	,	PUNCT
fbem-31299	439	8	2011	2011	NUM
fbem-31299	439	9	,	,	PUNCT
fbem-31299	439	10	28(06	28(06	NUM
fbem-31299	439	11	):	):	PUNCT
fbem-31299	439	12	78	78	NUM
fbem-31299	439	13	-	-	SYM
fbem-31299	439	14	82	82	NUM
fbem-31299	439	15	.	.	PUNCT
fbem-31299	440	1	[	[	X
fbem-31299	440	2	31	31	NUM
fbem-31299	440	3	]	]	PUNCT
fbem-31299	440	4	wang	wang	PROPN
fbem-31299	440	5	x.	x.	PROPN
fbem-31299	440	6	,	,	PUNCT
fbem-31299	440	7	wen	wen	PROPN
fbem-31299	440	8	d.	d.	PROPN
fbem-31299	440	9	heterogeneity	heterogeneity	PROPN
fbem-31299	440	10	of	of	ADP
fbem-31299	440	11	institutional	institutional	ADJ
fbem-31299	440	12	investors	investor	NOUN
fbem-31299	440	13	,	,	PUNCT
fbem-31299	440	14	innovation	innovation	NOUN
fbem-31299	440	15	investment	investment	NOUN
fbem-31299	440	16	and	and	CCONJ
fbem-31299	440	17	enterprise	enterprise	NOUN
fbem-31299	440	18	performance	performance	NOUN
fbem-31299	440	19	:	:	PUNCT
fbem-31299	440	20	empirical	empirical	ADJ
fbem-31299	440	21	evidence	evidence	NOUN
fbem-31299	440	22	from	from	ADP
fbem-31299	440	23	gem	gem	NOUN
fbem-31299	441	1	[	[	X
fbem-31299	441	2	j	j	X
fbem-31299	441	3	]	]	X
fbem-31299	441	4	.	.	PUNCT
fbem-31299	442	1	auditing	auditing	NOUN
fbem-31299	442	2	and	and	CCONJ
fbem-31299	442	3	economy	economy	NOUN
fbem-31299	442	4	research	research	NOUN
fbem-31299	442	5	,	,	PUNCT
fbem-31299	442	6	2020	2020	NUM
fbem-31299	442	7	,	,	PUNCT
fbem-31299	442	8	35(02	35(02	NUM
fbem-31299	442	9	):	):	PUNCT
fbem-31299	442	10	98	98	NUM
fbem-31299	442	11	-	-	SYM
fbem-31299	442	12	106	106	NUM
fbem-31299	442	13	.	.	PUNCT
fbem-31299	443	1	[	[	X
fbem-31299	443	2	32	32	NUM
fbem-31299	443	3	]	]	SYM
fbem-31299	443	4	fan	fan	PROPN
fbem-31299	443	5	h.	h.	PROPN
fbem-31299	443	6	,	,	PUNCT
fbem-31299	443	7	zhou	zhou	PROPN
fbem-31299	443	8	x.	x.	PROPN
fbem-31299	443	9	research	research	NOUN
fbem-31299	443	10	on	on	ADP
fbem-31299	443	11	the	the	DET
fbem-31299	443	12	influence	influence	NOUN
fbem-31299	443	13	mechanism	mechanism	NOUN
fbem-31299	443	14	of	of	ADP
fbem-31299	443	15	management	management	NOUN
fbem-31299	443	16	shareholding	shareholding	NOUN
fbem-31299	443	17	on	on	ADP
fbem-31299	443	18	innovation	innovation	NOUN
fbem-31299	443	19	performance	performance	NOUN
fbem-31299	443	20	:	:	PUNCT
fbem-31299	443	21	based	base	VERB
fbem-31299	443	22	on	on	ADP
fbem-31299	443	23	the	the	DET
fbem-31299	443	24	mediating	mediate	VERB
fbem-31299	443	25	role	role	NOUN
fbem-31299	443	26	of	of	ADP
fbem-31299	443	27	financing	financing	NOUN
fbem-31299	443	28	constraints	constraint	NOUN
fbem-31299	443	29	[	[	X
fbem-31299	443	30	j	j	X
fbem-31299	443	31	]	]	X
fbem-31299	443	32	.	.	PUNCT
fbem-31299	444	1	science	science	PROPN
fbem-31299	444	2	research	research	NOUN
fbem-31299	444	3	management	management	NOUN
fbem-31299	444	4	,	,	PUNCT
fbem-31299	444	5	2020	2020	NUM
fbem-31299	444	6	,	,	PUNCT
fbem-31299	444	7	41(03	41(03	NUM
fbem-31299	444	8	):	):	PUNCT
fbem-31299	444	9	52	52	NUM
fbem-31299	444	10	-	-	SYM
fbem-31299	444	11	60	60	NUM
fbem-31299	444	12	.	.	PUNCT
fbem-31299	445	1	[	[	X
fbem-31299	445	2	33	33	NUM
fbem-31299	445	3	]	]	PUNCT
fbem-31299	445	4	dahya	dahya	PROPN
fbem-31299	445	5	j.	j.	PROPN
fbem-31299	445	6	,	,	PUNCT
fbem-31299	445	7	mcconnell	mcconnell	PROPN
fbem-31299	445	8	j	j	PROPN
fbem-31299	445	9	j.	j.	PROPN
fbem-31299	445	10	outside	outside	PROPN
fbem-31299	445	11	directors	director	NOUN
fbem-31299	445	12	and	and	CCONJ
fbem-31299	445	13	corporate	corporate	ADJ
fbem-31299	445	14	board	board	NOUN
fbem-31299	445	15	decisions	decision	NOUN
fbem-31299	445	16	[	[	X
fbem-31299	445	17	j	j	X
fbem-31299	445	18	]	]	X
fbem-31299	445	19	.	.	PUNCT
fbem-31299	446	1	journal	journal	PROPN
fbem-31299	446	2	of	of	ADP
fbem-31299	446	3	corporate	corporate	ADJ
fbem-31299	446	4	finance	finance	NOUN
fbem-31299	446	5	,	,	PUNCT
fbem-31299	446	6	2005	2005	NUM
fbem-31299	446	7	,	,	PUNCT
fbem-31299	446	8	11(1	11(1	NUM
fbem-31299	446	9	-	-	SYM
fbem-31299	446	10	2	2	NUM
fbem-31299	446	11	):	):	PUNCT
fbem-31299	446	12	3760	3760	NUM
fbem-31299	446	13	.	.	PUNCT
fbem-31299	447	1	[	[	X
fbem-31299	447	2	34	34	NUM
fbem-31299	447	3	]	]	X
fbem-31299	447	4	qi	qi	PROPN
fbem-31299	447	5	j.	j.	PROPN
fbem-31299	447	6	,	,	PUNCT
fbem-31299	447	7	an	an	DET
fbem-31299	447	8	t.	t.	PROPN
fbem-31299	447	9	institutional	institutional	ADJ
fbem-31299	447	10	investors	investor	NOUN
fbem-31299	447	11	'	'	PART
fbem-31299	447	12	shareholding	shareholding	NOUN
fbem-31299	447	13	and	and	CCONJ
fbem-31299	447	14	enterprise	enterprise	NOUN
fbem-31299	447	15	r&d	r&d	NOUN
fbem-31299	447	16	investment	investment	NOUN
fbem-31299	447	17	:	:	PUNCT
fbem-31299	447	18	based	base	VERB
fbem-31299	447	19	on	on	ADP
fbem-31299	447	20	nonlinearity	nonlinearity	NOUN
fbem-31299	447	21	and	and	CCONJ
fbem-31299	447	22	heterogeneity	heterogeneity	NOUN
fbem-31299	447	23	[	[	X
fbem-31299	447	24	j	j	X
fbem-31299	447	25	]	]	X
fbem-31299	447	26	.	.	PUNCT
fbem-31299	448	1	china	china	PROPN
fbem-31299	448	2	economic	economic	ADJ
fbem-31299	448	3	studies	study	NOUN
fbem-31299	448	4	,	,	PUNCT
fbem-31299	448	5	2014	2014	NUM
fbem-31299	448	6	,	,	PUNCT
fbem-31299	448	7	(	(	PUNCT
fbem-31299	448	8	03	03	NUM
fbem-31299	448	9	):	):	PUNCT
fbem-31299	448	10	27	27	NUM
fbem-31299	448	11	-	-	SYM
fbem-31299	448	12	39	39	NUM
fbem-31299	448	13	.	.	PUNCT
fbem-31299	449	1	[	[	X
fbem-31299	449	2	35	35	NUM
fbem-31299	449	3	]	]	X
fbem-31299	449	4	jensen	jensen	PROPN
fbem-31299	449	5	m	m	PROPN
fbem-31299	449	6	c.	c.	PROPN
fbem-31299	449	7	,	,	PUNCT
fbem-31299	449	8	meckling	meckle	VERB
fbem-31299	449	9	w	w	PROPN
fbem-31299	449	10	h.	h.	PROPN
fbem-31299	449	11	theory	theory	NOUN
fbem-31299	449	12	of	of	ADP
fbem-31299	449	13	the	the	DET
fbem-31299	449	14	firm	firm	NOUN
fbem-31299	449	15	:	:	PUNCT
fbem-31299	449	16	managerial	managerial	ADJ
fbem-31299	449	17	behavior	behavior	NOUN
fbem-31299	449	18	,	,	PUNCT
fbem-31299	449	19	agency	agency	NOUN
fbem-31299	449	20	costs	cost	NOUN
fbem-31299	449	21	and	and	CCONJ
fbem-31299	449	22	ownership	ownership	NOUN
fbem-31299	449	23	structure	structure	NOUN
fbem-31299	450	1	[	[	X
fbem-31299	450	2	j	j	X
fbem-31299	450	3	]	]	X
fbem-31299	450	4	.	.	PUNCT
fbem-31299	451	1	journal	journal	PROPN
fbem-31299	451	2	of	of	ADP
fbem-31299	451	3	financial	financial	ADJ
fbem-31299	451	4	economics	economic	NOUN
fbem-31299	451	5	,	,	PUNCT
fbem-31299	451	6	1976	1976	NUM
fbem-31299	451	7	,	,	PUNCT
fbem-31299	451	8	3(4	3(4	NUM
fbem-31299	451	9	):	):	PUNCT
fbem-31299	451	10	305	305	NUM
fbem-31299	451	11	-	-	SYM
fbem-31299	451	12	360	360	NUM
fbem-31299	451	13	.	.	PUNCT
fbem-31299	452	1	[	[	X
fbem-31299	452	2	36	36	NUM
fbem-31299	452	3	]	]	X
fbem-31299	452	4	wang	wang	PROPN
fbem-31299	452	5	h.	h.	PROPN
fbem-31299	452	6	,	,	PUNCT
fbem-31299	452	7	peng	peng	PROPN
fbem-31299	452	8	z.	z.	PROPN
fbem-31299	452	9	,	,	PUNCT
fbem-31299	452	10	jiang	jiang	PROPN
fbem-31299	452	11	x.	x.	PROPN
fbem-31299	452	12	threshold	threshold	PROPN
fbem-31299	452	13	effect	effect	NOUN
fbem-31299	452	14	of	of	ADP
fbem-31299	452	15	agency	agency	NOUN
fbem-31299	452	16	conflict	conflict	NOUN
fbem-31299	452	17	on	on	ADP
fbem-31299	452	18	ambidextrous	ambidextrous	ADJ
fbem-31299	452	19	innovation	innovation	NOUN
fbem-31299	452	20	synergy	synergy	NOUN
fbem-31299	453	1	[	[	X
fbem-31299	453	2	j	j	X
fbem-31299	453	3	]	]	X
fbem-31299	453	4	.	.	PUNCT
fbem-31299	454	1	studies	study	NOUN
fbem-31299	454	2	in	in	ADP
fbem-31299	454	3	science	science	NOUN
fbem-31299	454	4	of	of	ADP
fbem-31299	454	5	science	science	NOUN
fbem-31299	454	6	,	,	PUNCT
fbem-31299	454	7	2022	2022	NUM
fbem-31299	454	8	,	,	PUNCT
fbem-31299	454	9	40(3	40(3	NUM
fbem-31299	454	10	):	):	PUNCT
fbem-31299	454	11	534	534	NUM
fbem-31299	454	12	-	-	SYM
fbem-31299	454	13	544	544	NUM
fbem-31299	454	14	.	.	PUNCT
fbem-31299	455	1	[	[	X
fbem-31299	455	2	37	37	NUM
fbem-31299	455	3	]	]	X
fbem-31299	455	4	zhang	zhang	PROPN
fbem-31299	455	5	h.	h.	PROPN
fbem-31299	455	6	,	,	PUNCT
fbem-31299	455	7	huang	huang	PROPN
fbem-31299	455	8	q.	q.	PROPN
fbem-31299	455	9	does	do	VERB
fbem-31299	455	10	dominant	dominant	PROPN
fbem-31299	455	11	ceo	ceo	NOUN
fbem-31299	455	12	promote	promote	NOUN
fbem-31299	455	13	or	or	CCONJ
fbem-31299	455	14	hinder	hinder	VERB
fbem-31299	455	15	enterprise	enterprise	NOUN
fbem-31299	455	16	innovation	innovation	NOUN
fbem-31299	455	17	investment	investment	NOUN
fbem-31299	455	18	?	?	PUNCT
fbem-31299	456	1	[	[	X
fbem-31299	456	2	j	j	X
fbem-31299	456	3	]	]	X
fbem-31299	456	4	.	.	PUNCT
fbem-31299	457	1	research	research	NOUN
fbem-31299	457	2	on	on	ADP
fbem-31299	457	3	economics	economic	NOUN
fbem-31299	457	4	and	and	CCONJ
fbem-31299	457	5	management	management	NOUN
fbem-31299	457	6	,	,	PUNCT
fbem-31299	457	7	2022	2022	NUM
fbem-31299	457	8	,	,	PUNCT
fbem-31299	457	9	43(07	43(07	NUM
fbem-31299	457	10	):	):	PUNCT
fbem-31299	457	11	59	59	NUM
fbem-31299	457	12	-	-	SYM
fbem-31299	457	13	78	78	NUM
fbem-31299	457	14	.	.	PUNCT
fbem-31299	458	1	[	[	X
fbem-31299	458	2	38	38	NUM
fbem-31299	458	3	]	]	PUNCT
fbem-31299	458	4	williamson	williamson	PROPN
fbem-31299	458	5	o	o	PROPN
fbem-31299	458	6	e.	e.	PROPN
fbem-31299	459	1	the	the	DET
fbem-31299	459	2	economic	economic	ADJ
fbem-31299	459	3	institutions	institution	NOUN
fbem-31299	459	4	of	of	ADP
fbem-31299	459	5	capitalism	capitalism	NOUN
fbem-31299	459	6	:	:	PUNCT
fbem-31299	459	7	firms	firm	NOUN
fbem-31299	459	8	,	,	PUNCT
fbem-31299	459	9	markets	market	NOUN
fbem-31299	459	10	,	,	PUNCT
fbem-31299	459	11	relational	relational	ADJ
fbem-31299	459	12	contracting	contracting	NOUN
fbem-31299	459	13	[	[	X
fbem-31299	459	14	m	m	X
fbem-31299	459	15	]	]	X
fbem-31299	459	16	.	.	PUNCT
fbem-31299	460	1	new	new	PROPN
fbem-31299	460	2	york	york	PROPN
fbem-31299	460	3	:	:	PUNCT
fbem-31299	460	4	free	free	ADJ
fbem-31299	460	5	press	press	NOUN
fbem-31299	460	6	,	,	PUNCT
fbem-31299	460	7	1985	1985	NUM
fbem-31299	460	8	.	.	PUNCT
fbem-31299	461	1	[	[	X
fbem-31299	461	2	39	39	NUM
fbem-31299	461	3	]	]	PUNCT
fbem-31299	461	4	yang	yang	PROPN
fbem-31299	461	5	f.	f.	PROPN
fbem-31299	461	6	,	,	PUNCT
fbem-31299	461	7	zhang	zhang	PROPN
fbem-31299	461	8	h.	h.	PROPN
fbem-31299	461	9	,	,	PUNCT
fbem-31299	461	10	sun	sun	PROPN
fbem-31299	461	11	q.	q.	PROPN
fbem-31299	461	12	,	,	PUNCT
fbem-31299	461	13	et	et	PROPN
fbem-31299	461	14	al	al	PROPN
fbem-31299	461	15	.	.	PUNCT
fbem-31299	462	1	how	how	SCONJ
fbem-31299	462	2	does	do	AUX
fbem-31299	462	3	patient	patient	ADJ
fbem-31299	462	4	capital	capital	NOUN
fbem-31299	462	5	help	help	NOUN
fbem-31299	462	6	develop	develop	VERB
fbem-31299	462	7	new	new	ADJ
fbem-31299	462	8	quality	quality	NOUN
fbem-31299	462	9	productive	productive	ADJ
fbem-31299	462	10	forces	force	NOUN
fbem-31299	462	11	?	?	PUNCT
fbem-31299	463	1	[	[	X
fbem-31299	463	2	j	j	X
fbem-31299	463	3	]	]	X
fbem-31299	463	4	.	.	PUNCT
fbem-31299	464	1	western	western	PROPN
fbem-31299	464	2	forum	forum	PROPN
fbem-31299	464	3	,	,	PUNCT
fbem-31299	464	4	2024	2024	NUM
fbem-31299	464	5	,	,	PUNCT
fbem-31299	464	6	34(06	34(06	NUM
fbem-31299	464	7	):	):	PUNCT
fbem-31299	464	8	31	31	NUM
fbem-31299	464	9	-	-	SYM
fbem-31299	464	10	47	47	NUM
fbem-31299	464	11	.	.	PUNCT
fbem-31299	465	1	[	[	X
fbem-31299	465	2	40	40	NUM
fbem-31299	465	3	]	]	PUNCT
fbem-31299	465	4	lai	lai	PROPN
fbem-31299	465	5	y.	y.	PROPN
fbem-31299	465	6	,	,	PUNCT
fbem-31299	465	7	wen	wen	PROPN
fbem-31299	465	8	m.	m.	PROPN
fbem-31299	465	9	,	,	PUNCT
fbem-31299	465	10	peng	peng	PROPN
fbem-31299	465	11	j.	j.	PROPN
fbem-31299	465	12	research	research	PROPN
fbem-31299	465	13	on	on	ADP
fbem-31299	465	14	the	the	DET
fbem-31299	465	15	impact	impact	NOUN
fbem-31299	465	16	of	of	ADP
fbem-31299	465	17	esg	esg	PROPN
fbem-31299	465	18	performance	performance	NOUN
fbem-31299	465	19	on	on	ADP
fbem-31299	465	20	enterprise	enterprise	NOUN
fbem-31299	465	21	resilience	resilience	NOUN
fbem-31299	466	1	[	[	X
fbem-31299	466	2	j	j	X
fbem-31299	466	3	]	]	X
fbem-31299	466	4	.	.	PUNCT
fbem-31299	467	1	finance	finance	NOUN
fbem-31299	467	2	and	and	CCONJ
fbem-31299	467	3	economy	economy	NOUN
fbem-31299	467	4	,	,	PUNCT
fbem-31299	467	5	2024	2024	NUM
fbem-31299	467	6	,	,	PUNCT
fbem-31299	467	7	(	(	PUNCT
fbem-31299	467	8	07	07	NUM
fbem-31299	467	9	):	):	PUNCT
fbem-31299	467	10	50	50	NUM
fbem-31299	467	11	-	-	SYM
fbem-31299	467	12	61	61	NUM
fbem-31299	467	13	.	.	PUNCT
fbem-31299	468	1	[	[	X
fbem-31299	468	2	41	41	NUM
fbem-31299	468	3	]	]	X
fbem-31299	468	4	jensen	jensen	PROPN
fbem-31299	468	5	m	m	PROPN
fbem-31299	468	6	c.	c.	PROPN
fbem-31299	468	7	,	,	PUNCT
fbem-31299	468	8	meckling	meckle	VERB
fbem-31299	468	9	w	w	PROPN
fbem-31299	468	10	h.	h.	PROPN
fbem-31299	468	11	theory	theory	NOUN
fbem-31299	468	12	of	of	ADP
fbem-31299	468	13	the	the	DET
fbem-31299	468	14	firm	firm	NOUN
fbem-31299	468	15	:	:	PUNCT
fbem-31299	468	16	managerial	managerial	ADJ
fbem-31299	468	17	behavior	behavior	NOUN
fbem-31299	468	18	,	,	PUNCT
fbem-31299	468	19	agency	agency	NOUN
fbem-31299	468	20	costs	cost	NOUN
fbem-31299	468	21	and	and	CCONJ
fbem-31299	468	22	ownership	ownership	NOUN
fbem-31299	468	23	structure	structure	NOUN
fbem-31299	469	1	[	[	X
fbem-31299	469	2	j	j	X
fbem-31299	469	3	]	]	X
fbem-31299	469	4	.	.	PUNCT
fbem-31299	470	1	journal	journal	PROPN
fbem-31299	470	2	of	of	ADP
fbem-31299	470	3	financial	financial	ADJ
fbem-31299	470	4	economics	economic	NOUN
fbem-31299	470	5	,	,	PUNCT
fbem-31299	470	6	1976	1976	NUM
fbem-31299	470	7	,	,	PUNCT
fbem-31299	470	8	3(4	3(4	NUM
fbem-31299	470	9	):	):	PUNCT
fbem-31299	470	10	305	305	NUM
fbem-31299	470	11	-	-	SYM
fbem-31299	470	12	360	360	NUM
fbem-31299	470	13	.	.	PUNCT