id	sid	tid	token	lemma	pos
fbem-6211	1	1	frontiers	frontier	NOUN
fbem-6211	1	2	in	in	ADP
fbem-6211	1	3	business	business	NOUN
fbem-6211	1	4	,	,	PUNCT
fbem-6211	1	5	economics	economic	NOUN
fbem-6211	1	6	and	and	CCONJ
fbem-6211	1	7	management	management	NOUN
fbem-6211	1	8	issn	issn	PROPN
fbem-6211	1	9	:	:	PUNCT
fbem-6211	1	10	2766	2766	NUM
fbem-6211	1	11	-	-	PUNCT
fbem-6211	1	12	824x	824x	NUM
fbem-6211	1	13	|	|	ADJ
fbem-6211	1	14	vol	vol	NOUN
fbem-6211	1	15	.	.	PROPN
fbem-6211	1	16	8	8	NUM
fbem-6211	1	17	,	,	PUNCT
fbem-6211	1	18	no	no	INTJ
fbem-6211	1	19	.	.	NOUN
fbem-6211	1	20	1	1	NUM
fbem-6211	1	21	,	,	PUNCT
fbem-6211	1	22	2023	2023	NUM
fbem-6211	1	23	196	196	NUM
fbem-6211	1	24	research	research	NOUN
fbem-6211	1	25	on	on	ADP
fbem-6211	1	26	the	the	DET
fbem-6211	1	27	effectiveness	effectiveness	NOUN
fbem-6211	1	28	of	of	ADP
fbem-6211	1	29	the	the	DET
fbem-6211	1	30	system	system	NOUN
fbem-6211	1	31	of	of	ADP
fbem-6211	1	32	independent	independent	ADJ
fbem-6211	1	33	directors	director	NOUN
fbem-6211	1	34	of	of	ADP
fbem-6211	1	35	listed	list	VERB
fbem-6211	1	36	companies	company	NOUN
fbem-6211	1	37	in	in	ADP
fbem-6211	1	38	china	china	PROPN
fbem-6211	1	39	shi	shi	PROPN
fbem-6211	1	40	yu	yu	PROPN
fbem-6211	1	41	,	,	PUNCT
fbem-6211	1	42	si'an	si'an	PROPN
fbem-6211	1	43	liang	liang	PROPN
fbem-6211	1	44	,	,	PUNCT
fbem-6211	1	45	xincong	xincong	PROPN
fbem-6211	1	46	wang	wang	PROPN
fbem-6211	1	47	(	(	PUNCT
fbem-6211	1	48	foshan	foshan	PROPN
fbem-6211	1	49	institute	institute	PROPN
fbem-6211	1	50	of	of	ADP
fbem-6211	1	51	science	science	NOUN
fbem-6211	1	52	and	and	CCONJ
fbem-6211	1	53	technology	technology	NOUN
fbem-6211	1	54	,	,	PUNCT
fbem-6211	1	55	foshan	foshan	PROPN
fbem-6211	1	56	,	,	PUNCT
fbem-6211	1	57	guangdong	guangdong	PROPN
fbem-6211	1	58	528000	528000	NUM
fbem-6211	1	59	,	,	PUNCT
fbem-6211	1	60	china	china	PROPN
fbem-6211	1	61	abstract	abstract	NOUN
fbem-6211	1	62	:	:	PUNCT
fbem-6211	1	63	this	this	DET
fbem-6211	1	64	paper	paper	NOUN
fbem-6211	1	65	selects	select	VERB
fbem-6211	1	66	the	the	DET
fbem-6211	1	67	financial	financial	ADJ
fbem-6211	1	68	data	datum	NOUN
fbem-6211	1	69	of	of	ADP
fbem-6211	1	70	chinese	chinese	ADJ
fbem-6211	1	71	a	a	DET
fbem-6211	1	72	-	-	PUNCT
fbem-6211	1	73	share	share	NOUN
fbem-6211	1	74	listed	list	VERB
fbem-6211	1	75	companies	company	NOUN
fbem-6211	1	76	from	from	ADP
fbem-6211	1	77	2010	2010	NUM
fbem-6211	1	78	to	to	ADP
fbem-6211	1	79	2020	2020	NUM
fbem-6211	1	80	as	as	ADP
fbem-6211	1	81	the	the	DET
fbem-6211	1	82	research	research	NOUN
fbem-6211	1	83	sample	sample	NOUN
fbem-6211	1	84	,	,	PUNCT
fbem-6211	1	85	and	and	CCONJ
fbem-6211	1	86	empirically	empirically	ADV
fbem-6211	1	87	tests	test	VERB
fbem-6211	1	88	the	the	DET
fbem-6211	1	89	negative	negative	ADJ
fbem-6211	1	90	impact	impact	NOUN
fbem-6211	1	91	of	of	ADP
fbem-6211	1	92	the	the	DET
fbem-6211	1	93	number	number	NOUN
fbem-6211	1	94	of	of	ADP
fbem-6211	1	95	independent	independent	ADJ
fbem-6211	1	96	directors	director	NOUN
fbem-6211	1	97	and	and	CCONJ
fbem-6211	1	98	their	their	PRON
fbem-6211	1	99	ratio	ratio	NOUN
fbem-6211	1	100	on	on	ADP
fbem-6211	1	101	financial	financial	ADJ
fbem-6211	1	102	fraud	fraud	NOUN
fbem-6211	1	103	behavior	behavior	NOUN
fbem-6211	1	104	from	from	ADP
fbem-6211	1	105	the	the	DET
fbem-6211	1	106	perspective	perspective	NOUN
fbem-6211	1	107	of	of	ADP
fbem-6211	1	108	corporate	corporate	ADJ
fbem-6211	1	109	financial	financial	ADJ
fbem-6211	1	110	fraud.the	fraud.the	DET
fbem-6211	1	111	research	research	NOUN
fbem-6211	1	112	results	result	NOUN
fbem-6211	1	113	find	find	VERB
fbem-6211	1	114	that	that	SCONJ
fbem-6211	1	115	the	the	DET
fbem-6211	1	116	number	number	NOUN
fbem-6211	1	117	of	of	ADP
fbem-6211	1	118	independent	independent	ADJ
fbem-6211	1	119	directors	director	NOUN
fbem-6211	1	120	and	and	CCONJ
fbem-6211	1	121	the	the	DET
fbem-6211	1	122	ratio	ratio	NOUN
fbem-6211	1	123	of	of	ADP
fbem-6211	1	124	independent	independent	ADJ
fbem-6211	1	125	directors	director	NOUN
fbem-6211	1	126	are	be	AUX
fbem-6211	1	127	significantly	significantly	ADV
fbem-6211	1	128	and	and	CCONJ
fbem-6211	1	129	positively	positively	ADV
fbem-6211	1	130	correlated	correlate	VERB
fbem-6211	1	131	with	with	ADP
fbem-6211	1	132	corporate	corporate	ADJ
fbem-6211	1	133	financial	financial	ADJ
fbem-6211	1	134	fraud	fraud	NOUN
fbem-6211	1	135	behavior	behavior	NOUN
fbem-6211	1	136	,	,	PUNCT
fbem-6211	1	137	which	which	PRON
fbem-6211	1	138	indicates	indicate	VERB
fbem-6211	1	139	that	that	SCONJ
fbem-6211	1	140	independent	independent	ADJ
fbem-6211	1	141	directors	director	NOUN
fbem-6211	1	142	have	have	VERB
fbem-6211	1	143	a	a	DET
fbem-6211	1	144	significant	significant	ADJ
fbem-6211	1	145	impact	impact	NOUN
fbem-6211	1	146	on	on	ADP
fbem-6211	1	147	the	the	DET
fbem-6211	1	148	results	result	NOUN
fbem-6211	1	149	found	find	VERB
fbem-6211	1	150	that	that	SCONJ
fbem-6211	1	151	the	the	DET
fbem-6211	1	152	number	number	NOUN
fbem-6211	1	153	of	of	ADP
fbem-6211	1	154	independent	independent	ADJ
fbem-6211	1	155	directors	director	NOUN
fbem-6211	1	156	and	and	CCONJ
fbem-6211	1	157	the	the	DET
fbem-6211	1	158	proportion	proportion	NOUN
fbem-6211	1	159	of	of	ADP
fbem-6211	1	160	independent	independent	ADJ
fbem-6211	1	161	directors	director	NOUN
fbem-6211	1	162	are	be	AUX
fbem-6211	1	163	significantly	significantly	ADV
fbem-6211	1	164	and	and	CCONJ
fbem-6211	1	165	positively	positively	ADV
fbem-6211	1	166	correlated	correlate	VERB
fbem-6211	1	167	with	with	ADP
fbem-6211	1	168	the	the	DET
fbem-6211	1	169	financial	financial	PROPN
fbem-6211	1	170	fraud	fraud	NOUN
fbem-6211	1	171	behavior	behavior	NOUN
fbem-6211	1	172	of	of	ADP
fbem-6211	1	173	enterprises	enterprise	NOUN
fbem-6211	1	174	,	,	PUNCT
fbem-6211	1	175	indicating	indicate	VERB
fbem-6211	1	176	that	that	SCONJ
fbem-6211	1	177	the	the	DET
fbem-6211	1	178	independent	independent	ADJ
fbem-6211	1	179	directors	director	NOUN
fbem-6211	1	180	did	do	AUX
fbem-6211	1	181	not	not	PART
fbem-6211	1	182	effectively	effectively	ADV
fbem-6211	1	183	promote	promote	VERB
fbem-6211	1	184	the	the	DET
fbem-6211	1	185	current	current	ADJ
fbem-6211	1	186	corporate	corporate	ADJ
fbem-6211	1	187	management	management	NOUN
fbem-6211	1	188	reform	reform	NOUN
fbem-6211	1	189	.	.	PUNCT
fbem-6211	2	1	keywords	keyword	NOUN
fbem-6211	2	2	:	:	PUNCT
fbem-6211	2	3	independent	independent	ADJ
fbem-6211	2	4	director	director	NOUN
fbem-6211	2	5	,	,	PUNCT
fbem-6211	2	6	effectiveness	effectiveness	NOUN
fbem-6211	2	7	,	,	PUNCT
fbem-6211	2	8	financial	financial	ADJ
fbem-6211	2	9	fraud	fraud	NOUN
fbem-6211	2	10	.	.	PUNCT
fbem-6211	3	1	1	1	X
fbem-6211	3	2	.	.	X
fbem-6211	3	3	introduction	introduction	NOUN
fbem-6211	3	4	in	in	ADP
fbem-6211	3	5	the	the	DET
fbem-6211	3	6	early	early	ADJ
fbem-6211	3	7	twenty	twenty	NUM
fbem-6211	3	8	-	-	PUNCT
fbem-6211	3	9	first	first	ADJ
fbem-6211	3	10	century	century	NOUN
fbem-6211	3	11	,	,	PUNCT
fbem-6211	3	12	the	the	DET
fbem-6211	3	13	collapse	collapse	NOUN
fbem-6211	3	14	of	of	ADP
fbem-6211	3	15	enron	enron	PROPN
fbem-6211	3	16	,	,	PUNCT
fbem-6211	3	17	worldcom	worldcom	PROPN
fbem-6211	3	18	,	,	PUNCT
fbem-6211	3	19	and	and	CCONJ
fbem-6211	3	20	other	other	ADJ
fbem-6211	3	21	business	business	NOUN
fbem-6211	3	22	giants	giant	NOUN
fbem-6211	3	23	in	in	ADP
fbem-6211	3	24	the	the	DET
fbem-6211	3	25	united	united	PROPN
fbem-6211	3	26	states	states	PROPN
fbem-6211	3	27	due	due	ADP
fbem-6211	3	28	to	to	ADP
fbem-6211	3	29	financial	financial	ADJ
fbem-6211	3	30	fraud	fraud	NOUN
fbem-6211	3	31	revealed	reveal	VERB
fbem-6211	3	32	serious	serious	ADJ
fbem-6211	3	33	problems	problem	NOUN
fbem-6211	3	34	in	in	ADP
fbem-6211	3	35	corporate	corporate	ADJ
fbem-6211	3	36	management	management	NOUN
fbem-6211	3	37	,	,	PUNCT
fbem-6211	3	38	which	which	PRON
fbem-6211	3	39	led	lead	VERB
fbem-6211	3	40	to	to	ADP
fbem-6211	3	41	a	a	DET
fbem-6211	3	42	high	high	ADJ
fbem-6211	3	43	level	level	NOUN
fbem-6211	3	44	of	of	ADP
fbem-6211	3	45	attention	attention	NOUN
fbem-6211	3	46	to	to	ADP
fbem-6211	3	47	corporate	corporate	ADJ
fbem-6211	3	48	management	management	NOUN
fbem-6211	3	49	issues	issue	NOUN
fbem-6211	3	50	by	by	ADP
fbem-6211	3	51	government	government	NOUN
fbem-6211	3	52	regulators	regulator	NOUN
fbem-6211	3	53	and	and	CCONJ
fbem-6211	3	54	their	their	PRON
fbem-6211	3	55	stakeholders	stakeholder	NOUN
fbem-6211	3	56	.	.	PUNCT
fbem-6211	4	1	the	the	DET
fbem-6211	4	2	serious	serious	ADJ
fbem-6211	4	3	problems	problem	NOUN
fbem-6211	4	4	of	of	ADP
fbem-6211	4	5	head	head	NOUN
fbem-6211	4	6	of	of	ADP
fbem-6211	4	7	corporate	corporate	ADJ
fbem-6211	4	8	management	management	NOUN
fbem-6211	4	9	to	to	ADP
fbem-6211	4	10	the	the	DET
fbem-6211	4	11	lack	lack	NOUN
fbem-6211	4	12	of	of	ADP
fbem-6211	4	13	reasonable	reasonable	ADJ
fbem-6211	4	14	restrictions	restriction	NOUN
fbem-6211	4	15	on	on	ADP
fbem-6211	4	16	the	the	DET
fbem-6211	4	17	words	word	NOUN
fbem-6211	4	18	and	and	CCONJ
fbem-6211	4	19	actions	action	NOUN
fbem-6211	4	20	of	of	ADP
fbem-6211	4	21	managers	manager	NOUN
fbem-6211	4	22	,	,	PUNCT
fbem-6211	4	23	which	which	PRON
fbem-6211	4	24	leads	lead	VERB
fbem-6211	4	25	to	to	ADP
fbem-6211	4	26	the	the	DET
fbem-6211	4	27	violation	violation	NOUN
fbem-6211	4	28	of	of	ADP
fbem-6211	4	29	the	the	DET
fbem-6211	4	30	rights	right	NOUN
fbem-6211	4	31	and	and	CCONJ
fbem-6211	4	32	interests	interest	NOUN
fbem-6211	4	33	of	of	ADP
fbem-6211	4	34	investors	investor	NOUN
fbem-6211	4	35	and	and	CCONJ
fbem-6211	4	36	other	other	ADJ
fbem-6211	4	37	stakeholders	stakeholder	NOUN
fbem-6211	4	38	by	by	ADP
fbem-6211	4	39	managers	manager	NOUN
fbem-6211	4	40	for	for	ADP
fbem-6211	4	41	personal	personal	ADJ
fbem-6211	4	42	gain	gain	NOUN
fbem-6211	4	43	,	,	PUNCT
fbem-6211	4	44	thus	thus	ADV
fbem-6211	4	45	leading	lead	VERB
fbem-6211	4	46	to	to	ADP
fbem-6211	4	47	the	the	DET
fbem-6211	4	48	high	high	ADJ
fbem-6211	4	49	risk	risk	NOUN
fbem-6211	4	50	of	of	ADP
fbem-6211	4	51	the	the	DET
fbem-6211	4	52	company	company	NOUN
fbem-6211	4	53	.	.	PUNCT
fbem-6211	5	1	in	in	ADP
fbem-6211	5	2	order	order	NOUN
fbem-6211	5	3	to	to	PART
fbem-6211	5	4	protect	protect	VERB
fbem-6211	5	5	the	the	DET
fbem-6211	5	6	rights	right	NOUN
fbem-6211	5	7	of	of	ADP
fbem-6211	5	8	investors	investor	NOUN
fbem-6211	5	9	,	,	PUNCT
fbem-6211	5	10	the	the	DET
fbem-6211	5	11	u.s	u.s	PROPN
fbem-6211	5	12	.	.	PROPN
fbem-6211	5	13	government	government	NOUN
fbem-6211	5	14	enacted	enact	VERB
fbem-6211	5	15	the	the	DET
fbem-6211	5	16	sarbanes	sarbanes	PROPN
fbem-6211	5	17	-	-	PUNCT
fbem-6211	5	18	oxley	oxley	ADJ
fbem-6211	5	19	act	act	NOUN
fbem-6211	5	20	in	in	ADP
fbem-6211	5	21	2002	2002	NUM
fbem-6211	5	22	and	and	CCONJ
fbem-6211	5	23	began	begin	VERB
fbem-6211	5	24	to	to	PART
fbem-6211	5	25	impose	impose	VERB
fbem-6211	5	26	more	more	ADV
fbem-6211	5	27	stringent	stringent	ADJ
fbem-6211	5	28	oversight	oversight	NOUN
fbem-6211	5	29	on	on	ADP
fbem-6211	5	30	the	the	DET
fbem-6211	5	31	corporate	corporate	ADJ
fbem-6211	5	32	governance	governance	NOUN
fbem-6211	5	33	and	and	CCONJ
fbem-6211	5	34	financial	financial	ADJ
fbem-6211	5	35	statements	statement	NOUN
fbem-6211	5	36	of	of	ADP
fbem-6211	5	37	u.s	u.s	PROPN
fbem-6211	5	38	.	.	PROPN
fbem-6211	5	39	listed	list	VERB
fbem-6211	5	40	companies	company	NOUN
fbem-6211	5	41	.	.	PUNCT
fbem-6211	6	1	section	section	NOUN
fbem-6211	6	2	404	404	NUM
fbem-6211	6	3	of	of	ADP
fbem-6211	6	4	the	the	DET
fbem-6211	6	5	act	act	NOUN
fbem-6211	6	6	requires	require	VERB
fbem-6211	6	7	listed	list	VERB
fbem-6211	6	8	companies	company	NOUN
fbem-6211	6	9	to	to	PART
fbem-6211	6	10	submit	submit	VERB
fbem-6211	6	11	an	an	DET
fbem-6211	6	12	annual	annual	ADJ
fbem-6211	6	13	financial	financial	ADJ
fbem-6211	6	14	report	report	NOUN
fbem-6211	6	15	signed	sign	VERB
fbem-6211	6	16	by	by	ADP
fbem-6211	6	17	independent	independent	ADJ
fbem-6211	6	18	directors	director	NOUN
fbem-6211	6	19	on	on	ADP
fbem-6211	6	20	behalf	behalf	NOUN
fbem-6211	6	21	of	of	ADP
fbem-6211	6	22	the	the	DET
fbem-6211	6	23	directors	director	NOUN
fbem-6211	6	24	,	,	PUNCT
fbem-6211	6	25	and	and	CCONJ
fbem-6211	6	26	begins	begin	VERB
fbem-6211	6	27	to	to	PART
fbem-6211	6	28	emphasize	emphasize	VERB
fbem-6211	6	29	the	the	DET
fbem-6211	6	30	key	key	ADJ
fbem-6211	6	31	role	role	NOUN
fbem-6211	6	32	of	of	ADP
fbem-6211	6	33	independent	independent	ADJ
fbem-6211	6	34	directors	director	NOUN
fbem-6211	6	35	in	in	ADP
fbem-6211	6	36	the	the	DET
fbem-6211	6	37	corporate	corporate	ADJ
fbem-6211	6	38	governance	governance	NOUN
fbem-6211	6	39	structure	structure	NOUN
fbem-6211	6	40	.	.	PUNCT
fbem-6211	7	1	the	the	DET
fbem-6211	7	2	reason	reason	NOUN
fbem-6211	7	3	for	for	ADP
fbem-6211	7	4	the	the	DET
fbem-6211	7	5	restriction	restriction	NOUN
fbem-6211	7	6	of	of	ADP
fbem-6211	7	7	the	the	DET
fbem-6211	7	8	independent	independent	ADJ
fbem-6211	7	9	directorship	directorship	NOUN
fbem-6211	7	10	required	require	VERB
fbem-6211	7	11	by	by	ADP
fbem-6211	7	12	the	the	DET
fbem-6211	7	13	sarbanesoxley	sarbanesoxley	PROPN
fbem-6211	7	14	act	act	NOUN
fbem-6211	7	15	is	be	AUX
fbem-6211	7	16	that	that	SCONJ
fbem-6211	7	17	the	the	DET
fbem-6211	7	18	independent	independent	ADJ
fbem-6211	7	19	directors	director	NOUN
fbem-6211	7	20	must	must	AUX
fbem-6211	7	21	have	have	VERB
fbem-6211	7	22	a	a	DET
fbem-6211	7	23	monitoring	monitoring	NOUN
fbem-6211	7	24	and	and	CCONJ
fbem-6211	7	25	questioning	question	VERB
fbem-6211	7	26	function	function	NOUN
fbem-6211	7	27	.	.	PUNCT
fbem-6211	8	1	the	the	DET
fbem-6211	8	2	supervisory	supervisory	ADJ
fbem-6211	8	3	function	function	NOUN
fbem-6211	8	4	of	of	ADP
fbem-6211	8	5	independent	independent	ADJ
fbem-6211	8	6	directors	director	NOUN
fbem-6211	8	7	is	be	AUX
fbem-6211	8	8	mainly	mainly	ADV
fbem-6211	8	9	to	to	PART
fbem-6211	8	10	avoid	avoid	VERB
fbem-6211	8	11	the	the	DET
fbem-6211	8	12	infringement	infringement	NOUN
fbem-6211	8	13	of	of	ADP
fbem-6211	8	14	minority	minority	NOUN
fbem-6211	8	15	shareholders	shareholder	NOUN
fbem-6211	8	16	'	'	PART
fbem-6211	8	17	rights	right	NOUN
fbem-6211	8	18	and	and	CCONJ
fbem-6211	8	19	interests	interest	NOUN
fbem-6211	8	20	by	by	ADP
fbem-6211	8	21	major	major	ADJ
fbem-6211	8	22	shareholders	shareholder	NOUN
fbem-6211	8	23	and	and	CCONJ
fbem-6211	8	24	managers	manager	NOUN
fbem-6211	8	25	,	,	PUNCT
fbem-6211	8	26	and	and	CCONJ
fbem-6211	8	27	to	to	PART
fbem-6211	8	28	have	have	VERB
fbem-6211	8	29	a	a	DET
fbem-6211	8	30	certain	certain	ADJ
fbem-6211	8	31	degree	degree	NOUN
fbem-6211	8	32	of	of	ADP
fbem-6211	8	33	independence	independence	NOUN
fbem-6211	8	34	because	because	SCONJ
fbem-6211	8	35	independent	independent	ADJ
fbem-6211	8	36	directors	director	NOUN
fbem-6211	8	37	can	can	AUX
fbem-6211	8	38	not	not	PART
fbem-6211	8	39	work	work	VERB
fbem-6211	8	40	directly	directly	ADV
fbem-6211	8	41	in	in	ADP
fbem-6211	8	42	the	the	DET
fbem-6211	8	43	enterprise	enterprise	NOUN
fbem-6211	8	44	and	and	CCONJ
fbem-6211	8	45	can	can	AUX
fbem-6211	8	46	not	not	PART
fbem-6211	8	47	have	have	VERB
fbem-6211	8	48	a	a	DET
fbem-6211	8	49	great	great	ADJ
fbem-6211	8	50	business	business	NOUN
fbem-6211	8	51	connection	connection	NOUN
fbem-6211	8	52	with	with	ADP
fbem-6211	8	53	shareholders	shareholder	NOUN
fbem-6211	8	54	and	and	CCONJ
fbem-6211	8	55	managers	manager	NOUN
fbem-6211	8	56	.	.	PUNCT
fbem-6211	9	1	therefore	therefore	ADV
fbem-6211	9	2	,	,	PUNCT
fbem-6211	9	3	by	by	ADP
fbem-6211	9	4	increasing	increase	VERB
fbem-6211	9	5	the	the	DET
fbem-6211	9	6	proportion	proportion	NOUN
fbem-6211	9	7	of	of	ADP
fbem-6211	9	8	outside	outside	ADJ
fbem-6211	9	9	independent	independent	ADJ
fbem-6211	9	10	directors	director	NOUN
fbem-6211	9	11	,	,	PUNCT
fbem-6211	9	12	internal	internal	ADJ
fbem-6211	9	13	director	director	NOUN
fbem-6211	9	14	structure	structure	NOUN
fbem-6211	9	15	can	can	AUX
fbem-6211	9	16	be	be	AUX
fbem-6211	9	17	optimized	optimize	VERB
fbem-6211	9	18	,	,	PUNCT
fbem-6211	9	19	thus	thus	ADV
fbem-6211	9	20	separating	separate	VERB
fbem-6211	9	21	the	the	DET
fbem-6211	9	22	executive	executive	ADJ
fbem-6211	9	23	and	and	CCONJ
fbem-6211	9	24	supervisory	supervisory	ADJ
fbem-6211	9	25	powers	power	NOUN
fbem-6211	9	26	.	.	PUNCT
fbem-6211	10	1	the	the	DET
fbem-6211	10	2	advisory	advisory	ADJ
fbem-6211	10	3	role	role	NOUN
fbem-6211	10	4	of	of	ADP
fbem-6211	10	5	independent	independent	ADJ
fbem-6211	10	6	directors	director	NOUN
fbem-6211	10	7	is	be	AUX
fbem-6211	10	8	based	base	VERB
fbem-6211	10	9	in	in	ADP
fbem-6211	10	10	fact	fact	NOUN
fbem-6211	10	11	that	that	SCONJ
fbem-6211	10	12	they	they	PRON
fbem-6211	10	13	are	be	AUX
fbem-6211	10	14	usually	usually	ADV
fbem-6211	10	15	professors	professor	NOUN
fbem-6211	10	16	of	of	ADP
fbem-6211	10	17	accounting	accounting	NOUN
fbem-6211	10	18	,	,	PUNCT
fbem-6211	10	19	law	law	NOUN
fbem-6211	10	20	and	and	CCONJ
fbem-6211	10	21	other	other	ADJ
fbem-6211	10	22	disciplines	discipline	NOUN
fbem-6211	10	23	and	and	CCONJ
fbem-6211	10	24	are	be	AUX
fbem-6211	10	25	able	able	ADJ
fbem-6211	10	26	to	to	PART
fbem-6211	10	27	provide	provide	VERB
fbem-6211	10	28	professional	professional	ADJ
fbem-6211	10	29	and	and	CCONJ
fbem-6211	10	30	creative	creative	ADJ
fbem-6211	10	31	perspectives	perspective	NOUN
fbem-6211	10	32	to	to	ADP
fbem-6211	10	33	shareholders	shareholder	NOUN
fbem-6211	10	34	and	and	CCONJ
fbem-6211	10	35	management	management	NOUN
fbem-6211	10	36	and	and	CCONJ
fbem-6211	10	37	to	to	PART
fbem-6211	10	38	influence	influence	VERB
fbem-6211	10	39	strategic	strategic	ADJ
fbem-6211	10	40	decisions	decision	NOUN
fbem-6211	10	41	of	of	ADP
fbem-6211	10	42	the	the	DET
fbem-6211	10	43	company	company	NOUN
fbem-6211	10	44	.	.	PUNCT
fbem-6211	11	1	this	this	PRON
fbem-6211	11	2	affects	affect	VERB
fbem-6211	11	3	the	the	DET
fbem-6211	11	4	risk	risk	NOUN
fbem-6211	11	5	-	-	PUNCT
fbem-6211	11	6	taking	taking	NOUN
fbem-6211	11	7	and	and	CCONJ
fbem-6211	11	8	operational	operational	ADJ
fbem-6211	11	9	performance	performance	NOUN
fbem-6211	11	10	of	of	ADP
fbem-6211	11	11	the	the	DET
fbem-6211	11	12	company	company	NOUN
fbem-6211	11	13	.	.	PUNCT
fbem-6211	12	1	china	china	PROPN
fbem-6211	12	2	also	also	ADV
fbem-6211	12	3	attaches	attach	VERB
fbem-6211	12	4	great	great	ADJ
fbem-6211	12	5	importance	importance	NOUN
fbem-6211	12	6	to	to	ADP
fbem-6211	12	7	the	the	DET
fbem-6211	12	8	issue	issue	NOUN
fbem-6211	12	9	of	of	ADP
fbem-6211	12	10	corporate	corporate	ADJ
fbem-6211	12	11	governance	governance	NOUN
fbem-6211	12	12	.	.	PUNCT
fbem-6211	13	1	china	china	PROPN
fbem-6211	13	2	introduced	introduce	VERB
fbem-6211	13	3	sole	sole	ADJ
fbem-6211	13	4	director	director	NOUN
fbem-6211	13	5	systemin	systemin	VERB
fbem-6211	13	6	2001	2001	NUM
fbem-6211	13	7	with	with	ADP
fbem-6211	13	8	the	the	DET
fbem-6211	13	9	expectation	expectation	NOUN
fbem-6211	13	10	that	that	SCONJ
fbem-6211	13	11	by	by	ADP
fbem-6211	13	12	introducing	introduce	VERB
fbem-6211	13	13	independent	independent	ADJ
fbem-6211	13	14	controlling	control	VERB
fbem-6211	13	15	shareholders	shareholder	NOUN
fbem-6211	13	16	and	and	CCONJ
fbem-6211	13	17	sole	sole	ADJ
fbem-6211	13	18	directors	director	NOUN
fbem-6211	13	19	in	in	ADP
fbem-6211	13	20	the	the	DET
fbem-6211	13	21	management	management	NOUN
fbem-6211	13	22	among	among	ADP
fbem-6211	13	23	shareholders	shareholder	NOUN
fbem-6211	13	24	,	,	PUNCT
fbem-6211	13	25	it	it	PRON
fbem-6211	13	26	would	would	AUX
fbem-6211	13	27	monitor	monitor	VERB
fbem-6211	13	28	and	and	CCONJ
fbem-6211	13	29	control	control	VERB
fbem-6211	13	30	the	the	DET
fbem-6211	13	31	rights	right	NOUN
fbem-6211	13	32	of	of	ADP
fbem-6211	13	33	internal	internal	ADJ
fbem-6211	13	34	major	major	ADJ
fbem-6211	13	35	shareholders	shareholder	NOUN
fbem-6211	13	36	conspiring	conspire	VERB
fbem-6211	13	37	with	with	ADP
fbem-6211	13	38	managers	manager	NOUN
fbem-6211	13	39	or	or	CCONJ
fbem-6211	13	40	violating	violate	VERB
fbem-6211	13	41	the	the	DET
fbem-6211	13	42	rights	right	NOUN
fbem-6211	13	43	of	of	ADP
fbem-6211	13	44	minority	minority	NOUN
fbem-6211	13	45	shareholders	shareholder	NOUN
fbem-6211	13	46	,	,	PUNCT
fbem-6211	13	47	and	and	CCONJ
fbem-6211	13	48	thus	thus	ADV
fbem-6211	13	49	safeguard	safeguard	VERB
fbem-6211	13	50	the	the	DET
fbem-6211	13	51	rights	right	NOUN
fbem-6211	13	52	and	and	CCONJ
fbem-6211	13	53	interests	interest	NOUN
fbem-6211	13	54	of	of	ADP
fbem-6211	13	55	external	external	ADJ
fbem-6211	13	56	minority	minority	NOUN
fbem-6211	13	57	shareholders	shareholder	NOUN
fbem-6211	13	58	.	.	PUNCT
fbem-6211	14	1	in	in	ADP
fbem-6211	14	2	august	august	PROPN
fbem-6211	14	3	of	of	ADP
fbem-6211	14	4	the	the	DET
fbem-6211	14	5	same	same	ADJ
fbem-6211	14	6	year	year	NOUN
fbem-6211	14	7	,	,	PUNCT
fbem-6211	14	8	the	the	DET
fbem-6211	14	9	china	china	PROPN
fbem-6211	14	10	securities	securities	PROPN
fbem-6211	14	11	regulatory	regulatory	PROPN
fbem-6211	14	12	commission	commission	PROPN
fbem-6211	14	13	issued	issue	VERB
fbem-6211	14	14	the	the	DET
fbem-6211	14	15	guiding	guide	VERB
fbem-6211	14	16	opinions	opinion	NOUN
fbem-6211	14	17	on	on	ADP
fbem-6211	14	18	the	the	DET
fbem-6211	14	19	establishment	establishment	NOUN
fbem-6211	14	20	of	of	ADP
fbem-6211	14	21	independent	independent	ADJ
fbem-6211	14	22	director	director	NOUN
fbem-6211	14	23	system	system	NOUN
fbem-6211	14	24	in	in	ADP
fbem-6211	14	25	listed	list	VERB
fbem-6211	14	26	companies	company	NOUN
fbem-6211	14	27	(	(	PUNCT
fbem-6211	14	28	hereinafter	hereinafter	NOUN
fbem-6211	14	29	referred	refer	VERB
fbem-6211	14	30	to	to	ADP
fbem-6211	14	31	as	as	ADP
fbem-6211	14	32	"	"	PUNCT
fbem-6211	14	33	guiding	guide	VERB
fbem-6211	14	34	opinions	opinion	NOUN
fbem-6211	14	35	"	"	PUNCT
fbem-6211	14	36	)	)	PUNCT
fbem-6211	14	37	.	.	PUNCT
fbem-6211	15	1	the	the	DET
fbem-6211	15	2	guiding	guide	VERB
fbem-6211	15	3	opinions	opinion	NOUN
fbem-6211	15	4	also	also	ADV
fbem-6211	15	5	pointed	point	VERB
fbem-6211	15	6	out	out	ADP
fbem-6211	15	7	that	that	SCONJ
fbem-6211	15	8	in	in	ADP
fbem-6211	15	9	order	order	NOUN
fbem-6211	15	10	to	to	PART
fbem-6211	15	11	continue	continue	VERB
fbem-6211	15	12	to	to	PART
fbem-6211	15	13	improve	improve	VERB
fbem-6211	15	14	the	the	DET
fbem-6211	15	15	governance	governance	NOUN
fbem-6211	15	16	structure	structure	NOUN
fbem-6211	15	17	of	of	ADP
fbem-6211	15	18	listed	list	VERB
fbem-6211	15	19	companies	company	NOUN
fbem-6211	15	20	and	and	CCONJ
fbem-6211	15	21	effectively	effectively	ADV
fbem-6211	15	22	promote	promote	VERB
fbem-6211	15	23	the	the	DET
fbem-6211	15	24	standardized	standardized	ADJ
fbem-6211	15	25	operation	operation	NOUN
fbem-6211	15	26	of	of	ADP
fbem-6211	15	27	domestic	domestic	ADJ
fbem-6211	15	28	listed	list	VERB
fbem-6211	15	29	companies	company	NOUN
fbem-6211	15	30	,	,	PUNCT
fbem-6211	15	31	domestic	domestic	ADJ
fbem-6211	15	32	listed	list	VERB
fbem-6211	15	33	companies	company	NOUN
fbem-6211	15	34	should	should	AUX
fbem-6211	15	35	also	also	ADV
fbem-6211	15	36	introduce	introduce	VERB
fbem-6211	15	37	the	the	DET
fbem-6211	15	38	mechanism	mechanism	NOUN
fbem-6211	15	39	of	of	ADP
fbem-6211	15	40	independent	independent	ADJ
fbem-6211	15	41	directors	director	NOUN
fbem-6211	15	42	and	and	CCONJ
fbem-6211	15	43	set	set	VERB
fbem-6211	15	44	corresponding	corresponding	ADJ
fbem-6211	15	45	standards	standard	NOUN
fbem-6211	15	46	for	for	ADP
fbem-6211	15	47	the	the	DET
fbem-6211	15	48	proportion	proportion	NOUN
fbem-6211	15	49	of	of	ADP
fbem-6211	15	50	independent	independent	ADJ
fbem-6211	15	51	directors	director	NOUN
fbem-6211	15	52	,	,	PUNCT
fbem-6211	15	53	while	while	SCONJ
fbem-6211	15	54	companies	company	NOUN
fbem-6211	15	55	should	should	AUX
fbem-6211	15	56	also	also	ADV
fbem-6211	15	57	create	create	VERB
fbem-6211	15	58	a	a	DET
fbem-6211	15	59	reasonable	reasonable	ADJ
fbem-6211	15	60	environment	environment	NOUN
fbem-6211	15	61	for	for	ADP
fbem-6211	15	62	independent	independent	ADJ
fbem-6211	15	63	directors	director	NOUN
fbem-6211	15	64	to	to	PART
fbem-6211	15	65	play	play	VERB
fbem-6211	15	66	an	an	DET
fbem-6211	15	67	active	active	ADJ
fbem-6211	15	68	role	role	NOUN
fbem-6211	15	69	and	and	CCONJ
fbem-6211	15	70	require	require	VERB
fbem-6211	15	71	independent	independent	ADJ
fbem-6211	15	72	directors	director	NOUN
fbem-6211	15	73	to	to	PART
fbem-6211	15	74	provide	provide	VERB
fbem-6211	15	75	unique	unique	ADJ
fbem-6211	15	76	advice	advice	NOUN
fbem-6211	15	77	on	on	ADP
fbem-6211	15	78	important	important	ADJ
fbem-6211	15	79	matters	matter	NOUN
fbem-6211	15	80	of	of	ADP
fbem-6211	15	81	the	the	DET
fbem-6211	15	82	company	company	NOUN
fbem-6211	15	83	.	.	PUNCT
fbem-6211	16	1	the	the	DET
fbem-6211	16	2	national	national	ADJ
fbem-6211	16	3	regulatory	regulatory	ADJ
fbem-6211	16	4	level	level	NOUN
fbem-6211	16	5	has	have	AUX
fbem-6211	16	6	issued	issue	VERB
fbem-6211	16	7	regulations	regulation	NOUN
fbem-6211	16	8	to	to	PART
fbem-6211	16	9	establish	establish	VERB
fbem-6211	16	10	a	a	DET
fbem-6211	16	11	sound	sound	ADJ
fbem-6211	16	12	management	management	NOUN
fbem-6211	16	13	system	system	NOUN
fbem-6211	16	14	for	for	ADP
fbem-6211	16	15	independent	independent	ADJ
fbem-6211	16	16	directors	director	NOUN
fbem-6211	16	17	and	and	CCONJ
fbem-6211	16	18	to	to	PART
fbem-6211	16	19	continuously	continuously	ADV
fbem-6211	16	20	optimize	optimize	VERB
fbem-6211	16	21	the	the	DET
fbem-6211	16	22	corporate	corporate	ADJ
fbem-6211	16	23	governance	governance	NOUN
fbem-6211	16	24	and	and	CCONJ
fbem-6211	16	25	supervision	supervision	NOUN
fbem-6211	16	26	system	system	NOUN
fbem-6211	16	27	in	in	ADP
fbem-6211	16	28	china	china	PROPN
fbem-6211	16	29	.	.	PUNCT
fbem-6211	17	1	based	base	VERB
fbem-6211	17	2	on	on	ADP
fbem-6211	17	3	the	the	DET
fbem-6211	17	4	introduction	introduction	NOUN
fbem-6211	17	5	of	of	ADP
fbem-6211	17	6	the	the	DET
fbem-6211	17	7	independent	independent	ADJ
fbem-6211	17	8	director	director	NOUN
fbem-6211	17	9	system	system	NOUN
fbem-6211	17	10	in	in	ADP
fbem-6211	17	11	china	china	PROPN
fbem-6211	17	12	,	,	PUNCT
fbem-6211	17	13	this	this	DET
fbem-6211	17	14	paper	paper	NOUN
fbem-6211	17	15	selects	select	VERB
fbem-6211	17	16	1,052	1,052	NUM
fbem-6211	17	17	companies	company	NOUN
fbem-6211	17	18	with	with	ADP
fbem-6211	17	19	financial	financial	ADJ
fbem-6211	17	20	fraud	fraud	NOUN
fbem-6211	17	21	activities	activity	NOUN
fbem-6211	17	22	from	from	ADP
fbem-6211	17	23	2010	2010	NUM
fbem-6211	17	24	to	to	ADP
fbem-6211	17	25	2020	2020	NUM
fbem-6211	17	26	as	as	SCONJ
fbem-6211	17	27	research	research	NOUN
fbem-6211	17	28	subjects	subject	NOUN
fbem-6211	17	29	to	to	PART
fbem-6211	17	30	empirically	empirically	ADV
fbem-6211	17	31	examine	examine	VERB
fbem-6211	17	32	the	the	DET
fbem-6211	17	33	impact	impact	NOUN
fbem-6211	17	34	of	of	ADP
fbem-6211	17	35	the	the	DET
fbem-6211	17	36	independent	independent	ADJ
fbem-6211	17	37	director	director	NOUN
fbem-6211	17	38	system	system	NOUN
fbem-6211	17	39	on	on	ADP
fbem-6211	17	40	the	the	DET
fbem-6211	17	41	financial	financial	ADJ
fbem-6211	17	42	fraud	fraud	NOUN
fbem-6211	17	43	activities	activity	NOUN
fbem-6211	17	44	of	of	ADP
fbem-6211	17	45	companies	company	NOUN
fbem-6211	17	46	in	in	ADP
fbem-6211	17	47	china	china	PROPN
fbem-6211	17	48	from	from	ADP
fbem-6211	17	49	the	the	DET
fbem-6211	17	50	background	background	NOUN
fbem-6211	17	51	of	of	ADP
fbem-6211	17	52	unique	unique	ADJ
fbem-6211	17	53	company	company	NOUN
fbem-6211	17	54	system	system	NOUN
fbem-6211	17	55	in	in	ADP
fbem-6211	17	56	china	china	PROPN
fbem-6211	17	57	,	,	PUNCT
fbem-6211	17	58	and	and	CCONJ
fbem-6211	17	59	to	to	PART
fbem-6211	17	60	make	make	VERB
fbem-6211	17	61	reference	reference	NOUN
fbem-6211	17	62	suggestions	suggestion	NOUN
fbem-6211	17	63	for	for	ADP
fbem-6211	17	64	the	the	DET
fbem-6211	17	65	management	management	NOUN
fbem-6211	17	66	reform	reform	NOUN
fbem-6211	17	67	of	of	ADP
fbem-6211	17	68	listed	list	VERB
fbem-6211	17	69	companies	company	NOUN
fbem-6211	17	70	in	in	ADP
fbem-6211	17	71	china	china	PROPN
fbem-6211	17	72	.	.	PUNCT
fbem-6211	18	1	2	2	X
fbem-6211	18	2	.	.	X
fbem-6211	18	3	literature	literature	NOUN
fbem-6211	18	4	review	review	PROPN
fbem-6211	18	5	and	and	CCONJ
fbem-6211	18	6	research	research	NOUN
fbem-6211	18	7	hypothesis	hypothesis	NOUN
fbem-6211	18	8	2.1	2.1	NUM
fbem-6211	18	9	.	.	PUNCT
fbem-6211	19	1	independent	independent	ADJ
fbem-6211	19	2	director	director	NOUN
fbem-6211	19	3	system	system	NOUN
fbem-6211	19	4	independent	independent	ADJ
fbem-6211	19	5	directorship	directorship	NOUN
fbem-6211	19	6	is	be	AUX
fbem-6211	19	7	a	a	DET
fbem-6211	19	8	major	major	ADJ
fbem-6211	19	9	system	system	NOUN
fbem-6211	19	10	design	design	NOUN
fbem-6211	19	11	in	in	ADP
fbem-6211	19	12	corporate	corporate	ADJ
fbem-6211	19	13	board	board	NOUN
fbem-6211	19	14	reform	reform	NOUN
fbem-6211	19	15	,	,	PUNCT
fbem-6211	19	16	and	and	CCONJ
fbem-6211	19	17	the	the	DET
fbem-6211	19	18	general	general	ADJ
fbem-6211	19	19	view	view	NOUN
fbem-6211	19	20	of	of	ADP
fbem-6211	19	21	corporate	corporate	ADJ
fbem-6211	19	22	governance	governance	NOUN
fbem-6211	19	23	is	be	AUX
fbem-6211	19	24	that	that	SCONJ
fbem-6211	19	25	independent	independent	ADJ
fbem-6211	19	26	directors	director	NOUN
fbem-6211	19	27	can	can	AUX
fbem-6211	19	28	,	,	PUNCT
fbem-6211	19	29	safeguard	safeguard	VERB
fbem-6211	19	30	the	the	DET
fbem-6211	19	31	rights	right	NOUN
fbem-6211	19	32	and	and	CCONJ
fbem-6211	19	33	interests	interest	NOUN
fbem-6211	19	34	of	of	ADP
fbem-6211	19	35	small	small	ADJ
fbem-6211	19	36	and	and	CCONJ
fbem-6211	19	37	medium	medium	ADJ
fbem-6211	19	38	shareholders	shareholder	NOUN
fbem-6211	19	39	,	,	PUNCT
fbem-6211	19	40	and	and	CCONJ
fbem-6211	19	41	are	be	AUX
fbem-6211	19	42	the	the	DET
fbem-6211	19	43	most	most	ADV
fbem-6211	19	44	appropriate	appropriate	ADJ
fbem-6211	19	45	candidates	candidate	NOUN
fbem-6211	19	46	for	for	ADP
fbem-6211	19	47	the	the	DET
fbem-6211	19	48	way	way	NOUN
fbem-6211	19	49	companies	company	NOUN
fbem-6211	19	50	assume	assume	VERB
fbem-6211	19	51	regulatory	regulatory	ADJ
fbem-6211	19	52	responsibility	responsibility	NOUN
fbem-6211	19	53	(	(	PUNCT
fbem-6211	19	54	fang	fang	X
fbem-6211	19	55	xiaoyi	xiaoyi	PROPN
fbem-6211	19	56	and	and	CCONJ
fbem-6211	19	57	zhang	zhang	PROPN
fbem-6211	19	58	197	197	NUM
fbem-6211	19	59	nan	nan	PROPN
fbem-6211	19	60	,	,	PUNCT
fbem-6211	19	61	2013	2013	NUM
fbem-6211	19	62	)	)	PUNCT
fbem-6211	19	63	.	.	PUNCT
fbem-6211	20	1	ding	ding	NOUN
fbem-6211	20	2	(	(	PUNCT
fbem-6211	20	3	2016	2016	NUM
fbem-6211	20	4	)	)	PUNCT
fbem-6211	20	5	screened	screen	VERB
fbem-6211	20	6	the	the	DET
fbem-6211	20	7	main	main	ADJ
fbem-6211	20	8	financial	financial	ADJ
fbem-6211	20	9	data	datum	NOUN
fbem-6211	20	10	of	of	ADP
fbem-6211	20	11	chinese	chinese	ADJ
fbem-6211	20	12	a	a	DET
fbem-6211	20	13	-	-	PUNCT
fbem-6211	20	14	share	share	NOUN
fbem-6211	20	15	listed	list	VERB
fbem-6211	20	16	companies	company	NOUN
fbem-6211	20	17	from	from	ADP
fbem-6211	20	18	2004	2004	NUM
fbem-6211	20	19	-	-	SYM
fbem-6211	20	20	2014	2014	NUM
fbem-6211	20	21	,	,	PUNCT
fbem-6211	20	22	analyzed	analyze	VERB
fbem-6211	20	23	the	the	DET
fbem-6211	20	24	feasibility	feasibility	NOUN
fbem-6211	20	25	of	of	ADP
fbem-6211	20	26	independent	independent	ADJ
fbem-6211	20	27	director	director	NOUN
fbem-6211	20	28	management	management	NOUN
fbem-6211	20	29	from	from	ADP
fbem-6211	20	30	the	the	DET
fbem-6211	20	31	perspective	perspective	NOUN
fbem-6211	20	32	of	of	ADP
fbem-6211	20	33	corporate	corporate	ADJ
fbem-6211	20	34	autonomy	autonomy	NOUN
fbem-6211	20	35	management	management	NOUN
fbem-6211	20	36	,	,	PUNCT
fbem-6211	20	37	and	and	CCONJ
fbem-6211	20	38	concluded	conclude	VERB
fbem-6211	20	39	that	that	SCONJ
fbem-6211	20	40	director	director	NOUN
fbem-6211	20	41	independence	independence	NOUN
fbem-6211	20	42	and	and	CCONJ
fbem-6211	20	43	positive	positive	ADJ
fbem-6211	20	44	autonomy	autonomy	NOUN
fbem-6211	20	45	of	of	ADP
fbem-6211	20	46	listed	list	VERB
fbem-6211	20	47	joint	joint	ADJ
fbem-6211	20	48	stock	stock	NOUN
fbem-6211	20	49	companies	company	NOUN
fbem-6211	20	50	can	can	AUX
fbem-6211	20	51	significantly	significantly	ADV
fbem-6211	20	52	improve	improve	VERB
fbem-6211	20	53	the	the	DET
fbem-6211	20	54	financial	financial	ADJ
fbem-6211	20	55	performance	performance	NOUN
fbem-6211	20	56	of	of	ADP
fbem-6211	20	57	listed	list	VERB
fbem-6211	20	58	companies	company	NOUN
fbem-6211	20	59	and	and	CCONJ
fbem-6211	20	60	their	their	PRON
fbem-6211	20	61	market	market	NOUN
fbem-6211	20	62	value	value	NOUN
fbem-6211	20	63	.	.	PUNCT
fbem-6211	21	1	2.2	2.2	NUM
fbem-6211	21	2	.	.	PUNCT
fbem-6211	21	3	financial	financial	ADJ
fbem-6211	21	4	fraud	fraud	NOUN
fbem-6211	21	5	according	accord	VERB
fbem-6211	21	6	to	to	ADP
fbem-6211	21	7	jingjing	jingjing	PROPN
fbem-6211	21	8	ma	ma	PROPN
fbem-6211	21	9	(	(	PUNCT
fbem-6211	21	10	2012	2012	NUM
fbem-6211	21	11	)	)	PUNCT
fbem-6211	21	12	,	,	PUNCT
fbem-6211	21	13	the	the	DET
fbem-6211	21	14	emergence	emergence	NOUN
fbem-6211	21	15	of	of	ADP
fbem-6211	21	16	financial	financial	ADJ
fbem-6211	21	17	fraud	fraud	NOUN
fbem-6211	21	18	activities	activity	NOUN
fbem-6211	21	19	seriously	seriously	ADV
fbem-6211	21	20	affects	affect	VERB
fbem-6211	21	21	the	the	DET
fbem-6211	21	22	normal	normal	ADJ
fbem-6211	21	23	economic	economic	ADJ
fbem-6211	21	24	order	order	NOUN
fbem-6211	21	25	of	of	ADP
fbem-6211	21	26	the	the	DET
fbem-6211	21	27	investment	investment	NOUN
fbem-6211	21	28	securities	security	NOUN
fbem-6211	21	29	market	market	NOUN
fbem-6211	21	30	,	,	PUNCT
fbem-6211	21	31	makes	make	VERB
fbem-6211	21	32	investors	investor	NOUN
fbem-6211	21	33	lack	lack	VERB
fbem-6211	21	34	trust	trust	NOUN
fbem-6211	21	35	and	and	CCONJ
fbem-6211	21	36	motivation	motivation	NOUN
fbem-6211	21	37	,	,	PUNCT
fbem-6211	21	38	thus	thus	ADV
fbem-6211	21	39	distorting	distort	VERB
fbem-6211	21	40	the	the	DET
fbem-6211	21	41	prices	price	NOUN
fbem-6211	21	42	of	of	ADP
fbem-6211	21	43	investment	investment	NOUN
fbem-6211	21	44	companies	company	NOUN
fbem-6211	21	45	and	and	CCONJ
fbem-6211	21	46	seriously	seriously	ADV
fbem-6211	21	47	inhibiting	inhibit	VERB
fbem-6211	21	48	the	the	DET
fbem-6211	21	49	normal	normal	ADJ
fbem-6211	21	50	development	development	NOUN
fbem-6211	21	51	of	of	ADP
fbem-6211	21	52	the	the	DET
fbem-6211	21	53	investment	investment	NOUN
fbem-6211	21	54	financial	financial	ADJ
fbem-6211	21	55	market	market	NOUN
fbem-6211	21	56	.	.	PUNCT
fbem-6211	22	1	liu	liu	PROPN
fbem-6211	22	2	liguo	liguo	PROPN
fbem-6211	22	3	(	(	PUNCT
fbem-6211	22	4	2003	2003	NUM
fbem-6211	22	5	)	)	PUNCT
fbem-6211	22	6	investigated	investigate	VERB
fbem-6211	22	7	the	the	DET
fbem-6211	22	8	association	association	NOUN
fbem-6211	22	9	among	among	ADP
fbem-6211	22	10	the	the	DET
fbem-6211	22	11	characteristics	characteristic	NOUN
fbem-6211	22	12	of	of	ADP
fbem-6211	22	13	corporate	corporate	ADJ
fbem-6211	22	14	directors	director	NOUN
fbem-6211	22	15	and	and	CCONJ
fbem-6211	22	16	financial	financial	ADJ
fbem-6211	22	17	statement	statement	NOUN
fbem-6211	22	18	fraud	fraud	NOUN
fbem-6211	22	19	by	by	ADP
fbem-6211	22	20	using	use	VERB
fbem-6211	22	21	a	a	DET
fbem-6211	22	22	sample	sample	NOUN
fbem-6211	22	23	of	of	ADP
fbem-6211	22	24	14	14	NUM
fbem-6211	22	25	listed	list	VERB
fbem-6211	22	26	companies	company	NOUN
fbem-6211	22	27	that	that	PRON
fbem-6211	22	28	was	be	AUX
fbem-6211	22	29	investigated	investigate	VERB
fbem-6211	22	30	by	by	ADP
fbem-6211	22	31	the	the	DET
fbem-6211	22	32	csrc	csrc	NOUN
fbem-6211	22	33	from	from	ADP
fbem-6211	22	34	1994	1994	NUM
fbem-6211	22	35	to	to	ADP
fbem-6211	22	36	june	june	PROPN
fbem-6211	22	37	2006	2006	NUM
fbem-6211	22	38	because	because	SCONJ
fbem-6211	22	39	fraud	fraud	NOUN
fbem-6211	22	40	was	be	AUX
fbem-6211	22	41	found	find	VERB
fbem-6211	22	42	when	when	SCONJ
fbem-6211	22	43	the	the	DET
fbem-6211	22	44	first	first	ADJ
fbem-6211	22	45	disclosure	disclosure	NOUN
fbem-6211	22	46	of	of	ADP
fbem-6211	22	47	corporate	corporate	ADJ
fbem-6211	22	48	financial	financial	ADJ
fbem-6211	22	49	statements	statement	NOUN
fbem-6211	22	50	was	be	AUX
fbem-6211	22	51	made	make	VERB
fbem-6211	22	52	,	,	PUNCT
fbem-6211	22	53	and	and	CCONJ
fbem-6211	22	54	found	find	VERB
fbem-6211	22	55	that	that	SCONJ
fbem-6211	22	56	the	the	PRON
fbem-6211	22	57	higher	high	ADJ
fbem-6211	22	58	the	the	DET
fbem-6211	22	59	proportion	proportion	NOUN
fbem-6211	22	60	of	of	ADP
fbem-6211	22	61	corporate	corporate	ADJ
fbem-6211	22	62	internal	internal	ADJ
fbem-6211	22	63	directors	director	NOUN
fbem-6211	22	64	among	among	ADP
fbem-6211	22	65	shareholders	shareholder	NOUN
fbem-6211	22	66	,	,	PUNCT
fbem-6211	22	67	the	the	PRON
fbem-6211	22	68	higher	high	ADJ
fbem-6211	22	69	the	the	DET
fbem-6211	22	70	chance	chance	NOUN
fbem-6211	22	71	of	of	ADP
fbem-6211	22	72	financial	financial	ADJ
fbem-6211	22	73	fraud	fraud	NOUN
fbem-6211	22	74	:	:	PUNCT
fbem-6211	22	75	companies	company	NOUN
fbem-6211	22	76	with	with	ADP
fbem-6211	22	77	financial	financial	ADJ
fbem-6211	22	78	fraud	fraud	NOUN
fbem-6211	22	79	,	,	PUNCT
fbem-6211	22	80	firms	firm	NOUN
fbem-6211	22	81	that	that	PRON
fbem-6211	22	82	commit	commit	VERB
fbem-6211	22	83	financial	financial	ADJ
fbem-6211	22	84	fraud	fraud	NOUN
fbem-6211	22	85	usually	usually	ADV
fbem-6211	22	86	have	have	VERB
fbem-6211	22	87	a	a	DET
fbem-6211	22	88	large	large	ADJ
fbem-6211	22	89	board	board	NOUN
fbem-6211	22	90	of	of	ADP
fbem-6211	22	91	directors	director	NOUN
fbem-6211	22	92	.	.	PUNCT
fbem-6211	23	1	2.3	2.3	NUM
fbem-6211	23	2	.	.	PUNCT
fbem-6211	24	1	the	the	DET
fbem-6211	24	2	influence	influence	NOUN
fbem-6211	24	3	of	of	ADP
fbem-6211	24	4	independent	independent	ADJ
fbem-6211	24	5	directors	director	NOUN
fbem-6211	24	6	on	on	ADP
fbem-6211	24	7	financial	financial	ADJ
fbem-6211	24	8	malpractice	malpractice	NOUN
fbem-6211	24	9	the	the	DET
fbem-6211	24	10	introduction	introduction	NOUN
fbem-6211	24	11	of	of	ADP
fbem-6211	24	12	the	the	DET
fbem-6211	24	13	sole	sole	ADJ
fbem-6211	24	14	director	director	NOUN
fbem-6211	24	15	mechanism	mechanism	NOUN
fbem-6211	24	16	to	to	PART
fbem-6211	24	17	avoid	avoid	VERB
fbem-6211	24	18	financial	financial	ADJ
fbem-6211	24	19	fraud	fraud	NOUN
fbem-6211	24	20	has	have	AUX
fbem-6211	24	21	also	also	ADV
fbem-6211	24	22	become	become	VERB
fbem-6211	24	23	a	a	DET
fbem-6211	24	24	corresponding	corresponding	ADJ
fbem-6211	24	25	protection	protection	NOUN
fbem-6211	24	26	initiative	initiative	NOUN
fbem-6211	24	27	,	,	PUNCT
fbem-6211	24	28	i.e.	i.e.	X
fbem-6211	24	29	,	,	PUNCT
fbem-6211	24	30	the	the	DET
fbem-6211	24	31	sole	sole	ADJ
fbem-6211	24	32	director	director	NOUN
fbem-6211	24	33	can	can	AUX
fbem-6211	24	34	enter	enter	VERB
fbem-6211	24	35	the	the	DET
fbem-6211	24	36	supervisory	supervisory	ADJ
fbem-6211	24	37	board	board	NOUN
fbem-6211	24	38	in	in	ADP
fbem-6211	24	39	the	the	DET
fbem-6211	24	40	role	role	NOUN
fbem-6211	24	41	of	of	ADP
fbem-6211	24	42	power	power	NOUN
fbem-6211	24	43	controller	controller	NOUN
fbem-6211	24	44	to	to	PART
fbem-6211	24	45	fill	fill	VERB
fbem-6211	24	46	the	the	DET
fbem-6211	24	47	loopholes	loophole	NOUN
fbem-6211	24	48	in	in	ADP
fbem-6211	24	49	the	the	DET
fbem-6211	24	50	firm	firm	NOUN
fbem-6211	24	51	's	's	PART
fbem-6211	24	52	inherent	inherent	ADJ
fbem-6211	24	53	governance	governance	NOUN
fbem-6211	24	54	structure	structure	NOUN
fbem-6211	24	55	.	.	PUNCT
fbem-6211	25	1	fang	fang	PROPN
fbem-6211	25	2	and	and	CCONJ
fbem-6211	25	3	zhang	zhang	PROPN
fbem-6211	25	4	(	(	PUNCT
fbem-6211	25	5	2013	2013	NUM
fbem-6211	25	6	)	)	PUNCT
fbem-6211	25	7	empirically	empirically	ADV
fbem-6211	25	8	examined	examine	VERB
fbem-6211	25	9	the	the	DET
fbem-6211	25	10	negative	negative	ADJ
fbem-6211	25	11	impact	impact	NOUN
fbem-6211	25	12	of	of	ADP
fbem-6211	25	13	the	the	DET
fbem-6211	25	14	number	number	NOUN
fbem-6211	25	15	of	of	ADP
fbem-6211	25	16	sole	sole	ADJ
fbem-6211	25	17	directors	director	NOUN
fbem-6211	25	18	on	on	ADP
fbem-6211	25	19	the	the	DET
fbem-6211	25	20	financial	financial	ADJ
fbem-6211	25	21	fraud	fraud	NOUN
fbem-6211	25	22	behavior	behavior	NOUN
fbem-6211	25	23	of	of	ADP
fbem-6211	25	24	firms	firm	NOUN
fbem-6211	25	25	,	,	PUNCT
fbem-6211	25	26	and	and	CCONJ
fbem-6211	25	27	the	the	DET
fbem-6211	25	28	results	result	NOUN
fbem-6211	25	29	showed	show	VERB
fbem-6211	25	30	that	that	SCONJ
fbem-6211	25	31	the	the	DET
fbem-6211	25	32	number	number	NOUN
fbem-6211	25	33	of	of	ADP
fbem-6211	25	34	sole	sole	ADJ
fbem-6211	25	35	directors	director	NOUN
fbem-6211	25	36	is	be	AUX
fbem-6211	25	37	positively	positively	ADV
fbem-6211	25	38	correlated	correlate	VERB
fbem-6211	25	39	with	with	ADP
fbem-6211	25	40	the	the	DET
fbem-6211	25	41	financial	financial	PROPN
fbem-6211	25	42	fraud	fraud	NOUN
fbem-6211	25	43	behavior	behavior	NOUN
fbem-6211	25	44	of	of	ADP
fbem-6211	25	45	firms	firm	NOUN
fbem-6211	25	46	.	.	PUNCT
fbem-6211	26	1	the	the	DET
fbem-6211	26	2	unique	unique	ADJ
fbem-6211	26	3	characteristics	characteristic	NOUN
fbem-6211	26	4	of	of	ADP
fbem-6211	26	5	minority	minority	NOUN
fbem-6211	26	6	shareholders	shareholder	NOUN
fbem-6211	26	7	and	and	CCONJ
fbem-6211	26	8	the	the	DET
fbem-6211	26	9	dysfunctional	dysfunctional	ADJ
fbem-6211	26	10	market	market	NOUN
fbem-6211	26	11	for	for	ADP
fbem-6211	26	12	independent	independent	ADJ
fbem-6211	26	13	directors	director	NOUN
fbem-6211	26	14	have	have	AUX
fbem-6211	26	15	created	create	VERB
fbem-6211	26	16	an	an	DET
fbem-6211	26	17	"	"	PUNCT
fbem-6211	26	18	innate	innate	ADJ
fbem-6211	26	19	barrier	barrier	NOUN
fbem-6211	26	20	"	"	PUNCT
fbem-6211	26	21	in	in	ADP
fbem-6211	26	22	social	social	ADJ
fbem-6211	26	23	development	development	NOUN
fbem-6211	26	24	for	for	ADP
fbem-6211	26	25	fraudulent	fraudulent	ADJ
fbem-6211	26	26	activities	activity	NOUN
fbem-6211	26	27	by	by	ADP
fbem-6211	26	28	large	large	ADJ
fbem-6211	26	29	shareholders	shareholder	NOUN
fbem-6211	26	30	and	and	CCONJ
fbem-6211	26	31	managers	manager	NOUN
fbem-6211	26	32	,	,	PUNCT
fbem-6211	26	33	thus	thus	ADV
fbem-6211	26	34	limiting	limit	VERB
fbem-6211	26	35	the	the	DET
fbem-6211	26	36	full	full	ADJ
fbem-6211	26	37	extent	extent	NOUN
fbem-6211	26	38	of	of	ADP
fbem-6211	26	39	the	the	DET
fbem-6211	26	40	expected	expect	VERB
fbem-6211	26	41	responsibilities	responsibility	NOUN
fbem-6211	26	42	of	of	ADP
fbem-6211	26	43	independent	independent	ADJ
fbem-6211	26	44	directors	director	NOUN
fbem-6211	26	45	.	.	PUNCT
fbem-6211	27	1	since	since	SCONJ
fbem-6211	27	2	the	the	DET
fbem-6211	27	3	formation	formation	NOUN
fbem-6211	27	4	of	of	ADP
fbem-6211	27	5	independent	independent	ADJ
fbem-6211	27	6	directors	director	NOUN
fbem-6211	27	7	is	be	AUX
fbem-6211	27	8	mostly	mostly	ADV
fbem-6211	27	9	recommended	recommend	VERB
fbem-6211	27	10	by	by	ADP
fbem-6211	27	11	the	the	DET
fbem-6211	27	12	major	major	ADJ
fbem-6211	27	13	shareholders	shareholder	NOUN
fbem-6211	27	14	or	or	CCONJ
fbem-6211	27	15	the	the	DET
fbem-6211	27	16	top	top	ADJ
fbem-6211	27	17	management	management	NOUN
fbem-6211	27	18	of	of	ADP
fbem-6211	27	19	the	the	DET
fbem-6211	27	20	company	company	NOUN
fbem-6211	27	21	,	,	PUNCT
fbem-6211	27	22	their	their	PRON
fbem-6211	27	23	independence	independence	NOUN
fbem-6211	27	24	is	be	AUX
fbem-6211	27	25	doubtful	doubtful	ADJ
fbem-6211	27	26	.	.	PUNCT
fbem-6211	28	1	mao	mao	PROPN
fbem-6211	28	2	,	,	PUNCT
fbem-6211	28	3	zhihong	zhihong	PROPN
fbem-6211	28	4	,	,	PUNCT
fbem-6211	28	5	and	and	CCONJ
fbem-6211	28	6	li	li	PROPN
fbem-6211	28	7	,	,	PUNCT
fbem-6211	28	8	he	he	PRON
fbem-6211	28	9	(	(	PUNCT
fbem-6211	28	10	2005	2005	NUM
fbem-6211	28	11	)	)	PUNCT
fbem-6211	28	12	conducted	conduct	VERB
fbem-6211	28	13	a	a	DET
fbem-6211	28	14	study	study	NOUN
fbem-6211	28	15	on	on	ADP
fbem-6211	28	16	the	the	DET
fbem-6211	28	17	association	association	NOUN
fbem-6211	28	18	between	between	ADP
fbem-6211	28	19	the	the	DET
fbem-6211	28	20	quality	quality	NOUN
fbem-6211	28	21	of	of	ADP
fbem-6211	28	22	independent	independent	ADJ
fbem-6211	28	23	directors	director	NOUN
fbem-6211	28	24	and	and	CCONJ
fbem-6211	28	25	financial	financial	ADJ
fbem-6211	28	26	reporting	reporting	NOUN
fbem-6211	28	27	fraud	fraud	NOUN
fbem-6211	28	28	in	in	ADP
fbem-6211	28	29	a	a	DET
fbem-6211	28	30	sample	sample	NOUN
fbem-6211	28	31	of	of	ADP
fbem-6211	28	32	a	a	DET
fbem-6211	28	33	-	-	PUNCT
fbem-6211	28	34	share	share	NOUN
fbem-6211	28	35	companies	company	NOUN
fbem-6211	28	36	that	that	PRON
fbem-6211	28	37	disclosed	disclose	VERB
fbem-6211	28	38	their	their	PRON
fbem-6211	28	39	financial	financial	ADJ
fbem-6211	28	40	statements	statement	NOUN
fbem-6211	28	41	on	on	ADP
fbem-6211	28	42	the	the	DET
fbem-6211	28	43	shanghai	shanghai	PROPN
fbem-6211	28	44	stock	stock	PROPN
fbem-6211	28	45	exchange	exchange	PROPN
fbem-6211	28	46	from	from	ADP
fbem-6211	28	47	2001	2001	NUM
fbem-6211	28	48	to	to	ADP
fbem-6211	28	49	2004	2004	NUM
fbem-6211	28	50	and	and	CCONJ
fbem-6211	28	51	were	be	AUX
fbem-6211	28	52	disciplined	discipline	VERB
fbem-6211	28	53	by	by	ADP
fbem-6211	28	54	the	the	DET
fbem-6211	28	55	china	china	PROPN
fbem-6211	28	56	securities	securities	PROPN
fbem-6211	28	57	regulatory	regulatory	PROPN
fbem-6211	28	58	commission	commission	PROPN
fbem-6211	28	59	(	(	PUNCT
fbem-6211	28	60	csrc	csrc	PROPN
fbem-6211	28	61	)	)	PUNCT
fbem-6211	28	62	using	use	VERB
fbem-6211	28	63	a	a	DET
fbem-6211	28	64	logistic	logistic	ADJ
fbem-6211	28	65	regression	regression	NOUN
fbem-6211	28	66	analysis	analysis	NOUN
fbem-6211	28	67	.	.	PUNCT
fbem-6211	29	1	the	the	DET
fbem-6211	29	2	study	study	NOUN
fbem-6211	29	3	shows	show	VERB
fbem-6211	29	4	that	that	SCONJ
fbem-6211	29	5	the	the	DET
fbem-6211	29	6	quality	quality	NOUN
fbem-6211	29	7	of	of	ADP
fbem-6211	29	8	independent	independent	ADJ
fbem-6211	29	9	directors	director	NOUN
fbem-6211	29	10	is	be	AUX
fbem-6211	29	11	negatively	negatively	ADV
fbem-6211	29	12	associated	associate	VERB
fbem-6211	29	13	with	with	ADP
fbem-6211	29	14	corporate	corporate	ADJ
fbem-6211	29	15	financial	financial	ADJ
fbem-6211	29	16	reporting	reporting	NOUN
fbem-6211	29	17	fraud	fraud	NOUN
fbem-6211	29	18	.	.	PUNCT
fbem-6211	30	1	zhao	zhao	PROPN
fbem-6211	30	2	,	,	PUNCT
fbem-6211	30	3	chang	chang	PROPN
fbem-6211	30	4	-	-	PUNCT
fbem-6211	30	5	wen	wen	PROPN
fbem-6211	30	6	,	,	PUNCT
fbem-6211	30	7	tang	tang	PROPN
fbem-6211	30	8	,	,	PUNCT
fbem-6211	30	9	ying	ying	PROPN
fbem-6211	30	10	-	-	PUNCT
fbem-6211	30	11	kai	kai	PROPN
fbem-6211	30	12	,	,	PUNCT
fbem-6211	30	13	and	and	CCONJ
fbem-6211	30	14	zhou	zhou	PROPN
fbem-6211	30	15	,	,	PUNCT
fbem-6211	30	16	jing	jing	PROPN
fbem-6211	30	17	,	,	PUNCT
fbem-6211	30	18	etal.(2008)analyzed	etal.(2008)analyze	VERB
fbem-6211	30	19	the	the	DET
fbem-6211	30	20	role	role	NOUN
fbem-6211	30	21	of	of	ADP
fbem-6211	30	22	independent	independent	ADJ
fbem-6211	30	23	director	director	NOUN
fbem-6211	30	24	mechanism	mechanism	NOUN
fbem-6211	30	25	in	in	ADP
fbem-6211	30	26	family	family	NOUN
fbem-6211	30	27	firms	firm	NOUN
fbem-6211	30	28	,	,	PUNCT
fbem-6211	30	29	and	and	CCONJ
fbem-6211	30	30	considered	consider	VERB
fbem-6211	30	31	the	the	DET
fbem-6211	30	32	number	number	NOUN
fbem-6211	30	33	of	of	ADP
fbem-6211	30	34	independent	independent	ADJ
fbem-6211	30	35	directors	director	NOUN
fbem-6211	30	36	as	as	ADP
fbem-6211	30	37	an	an	DET
fbem-6211	30	38	important	important	ADJ
fbem-6211	30	39	dimension	dimension	NOUN
fbem-6211	30	40	of	of	ADP
fbem-6211	30	41	independent	independent	ADJ
fbem-6211	30	42	director	director	NOUN
fbem-6211	30	43	mechanism	mechanism	NOUN
fbem-6211	30	44	,	,	PUNCT
fbem-6211	30	45	and	and	CCONJ
fbem-6211	30	46	considered	consider	VERB
fbem-6211	30	47	them	they	PRON
fbem-6211	30	48	as	as	ADP
fbem-6211	30	49	different	different	ADJ
fbem-6211	30	50	dependent	dependent	ADJ
fbem-6211	30	51	variables	variable	NOUN
fbem-6211	30	52	,	,	PUNCT
fbem-6211	30	53	and	and	CCONJ
fbem-6211	30	54	the	the	DET
fbem-6211	30	55	market	market	NOUN
fbem-6211	30	56	capitalization	capitalization	NOUN
fbem-6211	30	57	of	of	ADP
fbem-6211	30	58	the	the	DET
fbem-6211	30	59	firm	firm	NOUN
fbem-6211	30	60	as	as	ADP
fbem-6211	30	61	a	a	DET
fbem-6211	30	62	dependent	dependent	ADJ
fbem-6211	30	63	variable	variable	NOUN
fbem-6211	30	64	,	,	PUNCT
fbem-6211	30	65	and	and	CCONJ
fbem-6211	30	66	analyzed	analyze	VERB
fbem-6211	30	67	the	the	DET
fbem-6211	30	68	interaction	interaction	NOUN
fbem-6211	30	69	between	between	ADP
fbem-6211	30	70	the	the	DET
fbem-6211	30	71	two	two	NUM
fbem-6211	30	72	,	,	PUNCT
fbem-6211	30	73	and	and	CCONJ
fbem-6211	30	74	concluded	conclude	VERB
fbem-6211	30	75	that	that	SCONJ
fbem-6211	30	76	the	the	DET
fbem-6211	30	77	number	number	NOUN
fbem-6211	30	78	of	of	ADP
fbem-6211	30	79	independent	independent	ADJ
fbem-6211	30	80	directors	director	NOUN
fbem-6211	30	81	has	have	VERB
fbem-6211	30	82	an	an	DET
fbem-6211	30	83	important	important	ADJ
fbem-6211	30	84	positive	positive	ADJ
fbem-6211	30	85	effect	effect	NOUN
fbem-6211	30	86	on	on	ADP
fbem-6211	30	87	the	the	DET
fbem-6211	30	88	market	market	NOUN
fbem-6211	30	89	capitalization	capitalization	NOUN
fbem-6211	30	90	of	of	ADP
fbem-6211	30	91	the	the	DET
fbem-6211	30	92	firm	firm	NOUN
fbem-6211	30	93	after	after	ADP
fbem-6211	30	94	empirical	empirical	ADJ
fbem-6211	30	95	analysis	analysis	NOUN
fbem-6211	30	96	.	.	PUNCT
fbem-6211	31	1	based	base	VERB
fbem-6211	31	2	on	on	ADP
fbem-6211	31	3	this	this	DET
fbem-6211	31	4	background	background	NOUN
fbem-6211	31	5	,	,	PUNCT
fbem-6211	31	6	the	the	DET
fbem-6211	31	7	paper	paper	NOUN
fbem-6211	31	8	thus	thus	ADV
fbem-6211	31	9	proposes	propose	VERB
fbem-6211	31	10	the	the	DET
fbem-6211	31	11	research	research	NOUN
fbem-6211	31	12	hypothesis	hypothesis	NOUN
fbem-6211	31	13	that	that	PRON
fbem-6211	31	14	hypothesis	hypothesis	NOUN
fbem-6211	31	15	1	1	NUM
fbem-6211	31	16	:	:	PUNCT
fbem-6211	31	17	under	under	ADP
fbem-6211	31	18	certain	certain	ADJ
fbem-6211	31	19	conditions	condition	NOUN
fbem-6211	31	20	,	,	PUNCT
fbem-6211	31	21	the	the	DET
fbem-6211	31	22	proportion	proportion	NOUN
fbem-6211	31	23	of	of	ADP
fbem-6211	31	24	independent	independent	ADJ
fbem-6211	31	25	directors	director	NOUN
fbem-6211	31	26	is	be	AUX
fbem-6211	31	27	negatively	negatively	ADV
fbem-6211	31	28	related	relate	VERB
fbem-6211	31	29	to	to	ADP
fbem-6211	31	30	the	the	DET
fbem-6211	31	31	probability	probability	NOUN
fbem-6211	31	32	of	of	ADP
fbem-6211	31	33	financial	financial	ADJ
fbem-6211	31	34	fraud	fraud	NOUN
fbem-6211	31	35	.	.	PUNCT
fbem-6211	32	1	hypothesis	hypothesis	NOUN
fbem-6211	32	2	2	2	NUM
fbem-6211	32	3	:	:	PUNCT
fbem-6211	32	4	under	under	ADP
fbem-6211	32	5	certain	certain	ADJ
fbem-6211	32	6	conditions	condition	NOUN
fbem-6211	32	7	,	,	PUNCT
fbem-6211	32	8	the	the	DET
fbem-6211	32	9	proportion	proportion	NOUN
fbem-6211	32	10	of	of	ADP
fbem-6211	32	11	independent	independent	ADJ
fbem-6211	32	12	directors	director	NOUN
fbem-6211	32	13	is	be	AUX
fbem-6211	32	14	positively	positively	ADV
fbem-6211	32	15	related	relate	VERB
fbem-6211	32	16	to	to	ADP
fbem-6211	32	17	the	the	DET
fbem-6211	32	18	probability	probability	NOUN
fbem-6211	32	19	of	of	ADP
fbem-6211	32	20	financial	financial	ADJ
fbem-6211	32	21	fraud	fraud	NOUN
fbem-6211	32	22	.	.	PUNCT
fbem-6211	33	1	3	3	X
fbem-6211	33	2	.	.	X
fbem-6211	33	3	model	model	PROPN
fbem-6211	33	4	design	design	PROPN
fbem-6211	33	5	3.1	3.1	NUM
fbem-6211	33	6	.	.	PUNCT
fbem-6211	34	1	data	datum	NOUN
fbem-6211	34	2	sources	source	NOUN
fbem-6211	34	3	this	this	DET
fbem-6211	34	4	paper	paper	NOUN
fbem-6211	34	5	will	will	AUX
fbem-6211	34	6	take	take	VERB
fbem-6211	34	7	the	the	DET
fbem-6211	34	8	development	development	NOUN
fbem-6211	34	9	of	of	ADP
fbem-6211	34	10	china	china	PROPN
fbem-6211	34	11	's	's	PART
fbem-6211	34	12	independent	independent	ADJ
fbem-6211	34	13	director	director	NOUN
fbem-6211	34	14	system	system	NOUN
fbem-6211	34	15	as	as	ADP
fbem-6211	34	16	the	the	DET
fbem-6211	34	17	background	background	NOUN
fbem-6211	34	18	,	,	PUNCT
fbem-6211	34	19	by	by	ADP
fbem-6211	34	20	collecting	collect	VERB
fbem-6211	34	21	the	the	DET
fbem-6211	34	22	a	a	DET
fbem-6211	34	23	-	-	PUNCT
fbem-6211	34	24	share	share	NOUN
fbem-6211	34	25	listed	list	VERB
fbem-6211	34	26	companies	company	NOUN
fbem-6211	34	27	that	that	PRON
fbem-6211	34	28	was	be	AUX
fbem-6211	34	29	publicly	publicly	ADV
fbem-6211	34	30	condemned	condemn	VERB
fbem-6211	34	31	,	,	PUNCT
fbem-6211	34	32	publicly	publicly	ADV
fbem-6211	34	33	criticized	criticize	VERB
fbem-6211	34	34	or	or	CCONJ
fbem-6211	34	35	publicly	publicly	ADV
fbem-6211	34	36	punished	punish	VERB
fbem-6211	34	37	by	by	ADP
fbem-6211	34	38	csrc	csrc	NOUN
fbem-6211	34	39	,	,	PUNCT
fbem-6211	34	40	shanghai	shanghai	PROPN
fbem-6211	34	41	stock	stock	PROPN
fbem-6211	34	42	exchange	exchange	PROPN
fbem-6211	34	43	and	and	CCONJ
fbem-6211	34	44	shenzhen	shenzhen	PROPN
fbem-6211	34	45	stock	stock	PROPN
fbem-6211	34	46	exchange	exchange	PROPN
fbem-6211	34	47	for	for	ADP
fbem-6211	34	48	failure	failure	NOUN
fbem-6211	34	49	to	to	PART
fbem-6211	34	50	disclose	disclose	VERB
fbem-6211	34	51	material	material	ADJ
fbem-6211	34	52	corporate	corporate	ADJ
fbem-6211	34	53	matters	matter	NOUN
fbem-6211	34	54	,	,	PUNCT
fbem-6211	34	55	false	false	ADJ
fbem-6211	34	56	or	or	CCONJ
fbem-6211	34	57	seriously	seriously	ADV
fbem-6211	34	58	misleading	misleading	ADJ
fbem-6211	34	59	statements	statement	NOUN
fbem-6211	34	60	in	in	ADP
fbem-6211	34	61	the	the	DET
fbem-6211	34	62	information	information	NOUN
fbem-6211	34	63	disclosure	disclosure	NOUN
fbem-6211	34	64	,	,	PUNCT
fbem-6211	34	65	and	and	CCONJ
fbem-6211	34	66	accounting	accounting	NOUN
fbem-6211	34	67	information	information	NOUN
fbem-6211	34	68	disclosure	disclosure	NOUN
fbem-6211	34	69	violations	violation	NOUN
fbem-6211	34	70	during	during	ADP
fbem-6211	34	71	20102020	20102020	NUM
fbem-6211	34	72	as	as	ADP
fbem-6211	34	73	the	the	DET
fbem-6211	34	74	research	research	NOUN
fbem-6211	34	75	objects	object	VERB
fbem-6211	34	76	,	,	PUNCT
fbem-6211	34	77	and	and	CCONJ
fbem-6211	34	78	excluding	exclude	VERB
fbem-6211	34	79	financial	financial	ADJ
fbem-6211	34	80	the	the	DET
fbem-6211	34	81	study	study	NOUN
fbem-6211	34	82	also	also	ADV
fbem-6211	34	83	excludes	exclude	VERB
fbem-6211	34	84	financial	financial	ADJ
fbem-6211	34	85	companies	company	NOUN
fbem-6211	34	86	and	and	CCONJ
fbem-6211	34	87	companies	company	NOUN
fbem-6211	34	88	with	with	ADP
fbem-6211	34	89	missing	miss	VERB
fbem-6211	34	90	financial	financial	ADJ
fbem-6211	34	91	data	datum	NOUN
fbem-6211	34	92	,	,	PUNCT
fbem-6211	34	93	and	and	CCONJ
fbem-6211	34	94	finally	finally	ADV
fbem-6211	34	95	,	,	PUNCT
fbem-6211	34	96	1052	1052	NUM
fbem-6211	34	97	companies	company	NOUN
fbem-6211	34	98	with	with	ADP
fbem-6211	34	99	financial	financial	ADJ
fbem-6211	34	100	fraud	fraud	NOUN
fbem-6211	34	101	were	be	AUX
fbem-6211	34	102	identified	identify	VERB
fbem-6211	34	103	to	to	PART
fbem-6211	34	104	further	far	ADV
fbem-6211	34	105	verify	verify	VERB
fbem-6211	34	106	the	the	DET
fbem-6211	34	107	effectiveness	effectiveness	NOUN
fbem-6211	34	108	of	of	ADP
fbem-6211	34	109	the	the	DET
fbem-6211	34	110	independent	independent	ADJ
fbem-6211	34	111	director	director	NOUN
fbem-6211	34	112	system	system	NOUN
fbem-6211	34	113	in	in	ADP
fbem-6211	34	114	china	china	PROPN
fbem-6211	34	115	.	.	PUNCT
fbem-6211	35	1	the	the	DET
fbem-6211	35	2	data	datum	NOUN
fbem-6211	35	3	were	be	AUX
fbem-6211	35	4	obtained	obtain	VERB
fbem-6211	35	5	from	from	ADP
fbem-6211	35	6	csmar	csmar	PROPN
fbem-6211	35	7	database	database	NOUN
fbem-6211	35	8	,	,	PUNCT
fbem-6211	35	9	and	and	CCONJ
fbem-6211	35	10	stata16	stata16	NOUN
fbem-6211	35	11	was	be	AUX
fbem-6211	35	12	used	use	VERB
fbem-6211	35	13	for	for	ADP
fbem-6211	35	14	the	the	DET
fbem-6211	35	15	regression	regression	NOUN
fbem-6211	35	16	.	.	PUNCT
fbem-6211	36	1	3.2	3.2	NUM
fbem-6211	36	2	.	.	PUNCT
fbem-6211	36	3	variable	variable	ADJ
fbem-6211	36	4	selection	selection	NOUN
fbem-6211	36	5	and	and	CCONJ
fbem-6211	36	6	model	model	NOUN
fbem-6211	36	7	design	design	NOUN
fbem-6211	36	8	table	table	NOUN
fbem-6211	36	9	1	1	NUM
fbem-6211	36	10	.	.	PUNCT
fbem-6211	36	11	basic	basic	ADJ
fbem-6211	36	12	information	information	NOUN
fbem-6211	36	13	of	of	ADP
fbem-6211	36	14	variables	variable	NOUN
fbem-6211	36	15	variable	variable	ADJ
fbem-6211	36	16	type	type	NOUN
fbem-6211	36	17	variable	variable	ADJ
fbem-6211	36	18	symbols	symbol	NOUN
fbem-6211	36	19	variable	variable	ADJ
fbem-6211	36	20	definition	definition	NOUN
fbem-6211	36	21	and	and	CCONJ
fbem-6211	36	22	measurement	measurement	NOUN
fbem-6211	36	23	explained	explain	VERB
fbem-6211	36	24	variables	variable	NOUN
fbem-6211	36	25	fraud	fraud	VERB
fbem-6211	36	26	whether	whether	SCONJ
fbem-6211	36	27	the	the	DET
fbem-6211	36	28	listed	list	VERB
fbem-6211	36	29	company	company	NOUN
fbem-6211	36	30	has	have	AUX
fbem-6211	36	31	committed	commit	VERB
fbem-6211	36	32	financial	financial	ADJ
fbem-6211	36	33	fraud	fraud	NOUN
fbem-6211	36	34	explanatory	explanatory	ADJ
fbem-6211	36	35	variables	variable	NOUN
fbem-6211	36	36	ind1	ind1	PROPN
fbem-6211	36	37	percentage	percentage	NOUN
fbem-6211	36	38	of	of	ADP
fbem-6211	36	39	independent	independent	ADJ
fbem-6211	36	40	directors	director	NOUN
fbem-6211	36	41	ind2	ind2	NOUN
fbem-6211	36	42	number	number	NOUN
fbem-6211	36	43	of	of	ADP
fbem-6211	36	44	independent	independent	ADJ
fbem-6211	36	45	directors	director	NOUN
fbem-6211	36	46	control	control	PROPN
fbem-6211	36	47	variables	variable	NOUN
fbem-6211	36	48	roa	roa	PROPN
fbem-6211	36	49	return	return	VERB
fbem-6211	36	50	on	on	ADP
fbem-6211	36	51	total	total	ADJ
fbem-6211	36	52	assets	asset	NOUN
fbem-6211	36	53	(	(	PUNCT
fbem-6211	36	54	net	net	ADJ
fbem-6211	36	55	profit	profit	NOUN
fbem-6211	36	56	/	/	SYM
fbem-6211	36	57	total	total	ADJ
fbem-6211	36	58	average	average	ADJ
fbem-6211	36	59	assets	asset	NOUN
fbem-6211	36	60	)	)	PUNCT
fbem-6211	36	61	lev	lev	NOUN
fbem-6211	36	62	gearing	gear	VERB
fbem-6211	36	63	ratio	ratio	NOUN
fbem-6211	36	64	(	(	PUNCT
fbem-6211	36	65	total	total	ADJ
fbem-6211	36	66	liabilities	liability	NOUN
fbem-6211	36	67	/	/	SYM
fbem-6211	36	68	total	total	ADJ
fbem-6211	36	69	assets	asset	NOUN
fbem-6211	36	70	)	)	PUNCT
fbem-6211	36	71	board	board	NOUN
fbem-6211	36	72	board	board	NOUN
fbem-6211	36	73	size	size	NOUN
fbem-6211	36	74	(	(	PUNCT
fbem-6211	36	75	number	number	NOUN
fbem-6211	36	76	of	of	ADP
fbem-6211	36	77	board	board	NOUN
fbem-6211	36	78	members	member	NOUN
fbem-6211	36	79	)	)	PUNCT
fbem-6211	36	80	size	size	NOUN
fbem-6211	36	81	company	company	NOUN
fbem-6211	36	82	size	size	NOUN
fbem-6211	36	83	(	(	PUNCT
fbem-6211	36	84	natural	natural	ADJ
fbem-6211	36	85	logarithm	logarithm	NOUN
fbem-6211	36	86	of	of	ADP
fbem-6211	36	87	total	total	ADJ
fbem-6211	36	88	assets	asset	NOUN
fbem-6211	36	89	)	)	PUNCT
fbem-6211	36	90	trouble	trouble	NOUN
fbem-6211	36	91	whether	whether	SCONJ
fbem-6211	36	92	there	there	PRON
fbem-6211	36	93	are	be	VERB
fbem-6211	36	94	financial	financial	ADJ
fbem-6211	36	95	difficulties	difficulty	NOUN
fbem-6211	36	96	(	(	PUNCT
fbem-6211	36	97	at	at	ADP
fbem-6211	36	98	least	least	ADV
fbem-6211	36	99	one	one	NUM
fbem-6211	36	100	loss	loss	NOUN
fbem-6211	36	101	in	in	ADP
fbem-6211	36	102	the	the	DET
fbem-6211	36	103	first	first	ADJ
fbem-6211	36	104	three	three	NUM
fbem-6211	36	105	years	year	NOUN
fbem-6211	36	106	=	=	SYM
fbem-6211	36	107	1	1	NUM
fbem-6211	36	108	,	,	PUNCT
fbem-6211	36	109	otherwise	otherwise	ADV
fbem-6211	36	110	=	=	SYM
fbem-6211	36	111	0	0	X
fbem-6211	36	112	)	)	PUNCT
fbem-6211	36	113	audit	audit	NOUN
fbem-6211	36	114	type	type	NOUN
fbem-6211	36	115	of	of	ADP
fbem-6211	36	116	audit	audit	NOUN
fbem-6211	36	117	opinion	opinion	NOUN
fbem-6211	36	118	(	(	PUNCT
fbem-6211	36	119	standard	standard	ADJ
fbem-6211	36	120	unqualified	unqualified	ADJ
fbem-6211	36	121	opinion	opinion	NOUN
fbem-6211	36	122	=	=	SYM
fbem-6211	36	123	0	0	NUM
fbem-6211	36	124	,	,	PUNCT
fbem-6211	36	125	otherwise	otherwise	ADV
fbem-6211	36	126	=	=	SYM
fbem-6211	36	127	1	1	X
fbem-6211	36	128	)	)	PUNCT
fbem-6211	36	129	the	the	DET
fbem-6211	36	130	explanatory	explanatory	ADJ
fbem-6211	36	131	variables	variable	NOUN
fbem-6211	36	132	studied	study	VERB
fbem-6211	36	133	in	in	ADP
fbem-6211	36	134	this	this	DET
fbem-6211	36	135	paper	paper	NOUN
fbem-6211	36	136	have	have	VERB
fbem-6211	36	137	two	two	NUM
fbem-6211	36	138	forms	form	NOUN
fbem-6211	36	139	of	of	ADP
fbem-6211	36	140	occurrence	occurrence	NOUN
fbem-6211	36	141	(	(	PUNCT
fbem-6211	36	142	taking	take	VERB
fbem-6211	36	143	the	the	DET
fbem-6211	36	144	value	value	NOUN
fbem-6211	36	145	of	of	ADP
fbem-6211	36	146	1	1	NUM
fbem-6211	36	147	)	)	PUNCT
fbem-6211	36	148	and	and	CCONJ
fbem-6211	36	149	non	non	ADJ
fbem-6211	36	150	198	198	NUM
fbem-6211	36	151	occurrence	occurrence	NOUN
fbem-6211	36	152	(	(	PUNCT
fbem-6211	36	153	taking	take	VERB
fbem-6211	36	154	the	the	DET
fbem-6211	36	155	value	value	NOUN
fbem-6211	36	156	of	of	ADP
fbem-6211	36	157	0	0	NUM
fbem-6211	36	158	)	)	PUNCT
fbem-6211	36	159	,	,	PUNCT
fbem-6211	36	160	which	which	PRON
fbem-6211	36	161	is	be	AUX
fbem-6211	36	162	typical	typical	ADJ
fbem-6211	36	163	0	0	NUM
fbem-6211	36	164	-	-	SYM
fbem-6211	36	165	1	1	NUM
fbem-6211	36	166	variables	variable	NOUN
fbem-6211	36	167	and	and	CCONJ
fbem-6211	36	168	meet	meet	VERB
fbem-6211	36	169	the	the	DET
fbem-6211	36	170	requirements	requirement	NOUN
fbem-6211	36	171	for	for	ADP
fbem-6211	36	172	the	the	DET
fbem-6211	36	173	applicability	applicability	NOUN
fbem-6211	36	174	of	of	ADP
fbem-6211	36	175	nonlinear	nonlinear	ADJ
fbem-6211	36	176	binary	binary	ADJ
fbem-6211	36	177	choice	choice	NOUN
fbem-6211	36	178	models	model	NOUN
fbem-6211	36	179	.	.	PUNCT
fbem-6211	37	1	based	base	VERB
fbem-6211	37	2	on	on	ADP
fbem-6211	37	3	this	this	PRON
fbem-6211	37	4	,	,	PUNCT
fbem-6211	37	5	this	this	DET
fbem-6211	37	6	paper	paper	NOUN
fbem-6211	37	7	selects	select	VERB
fbem-6211	37	8	the	the	DET
fbem-6211	37	9	binary	binary	PROPN
fbem-6211	37	10	logistic	logistic	ADJ
fbem-6211	37	11	model	model	NOUN
fbem-6211	37	12	to	to	PART
fbem-6211	37	13	test	test	VERB
fbem-6211	37	14	the	the	DET
fbem-6211	37	15	relationship	relationship	NOUN
fbem-6211	37	16	between	between	ADP
fbem-6211	37	17	independent	independent	ADJ
fbem-6211	37	18	directors	director	NOUN
fbem-6211	37	19	and	and	CCONJ
fbem-6211	37	20	financial	financial	ADJ
fbem-6211	37	21	fraud	fraud	NOUN
fbem-6211	37	22	,	,	PUNCT
fbem-6211	37	23	and	and	CCONJ
fbem-6211	37	24	establishes	establish	VERB
fbem-6211	37	25	the	the	DET
fbem-6211	37	26	following	follow	VERB
fbem-6211	37	27	model	model	NOUN
fbem-6211	37	28	,	,	PUNCT
fbem-6211	37	29	if𝛽	if𝛽	X
fbem-6211	37	30	<	<	X
fbem-6211	37	31	0	0	NUM
fbem-6211	37	32	,	,	PUNCT
fbem-6211	37	33	then	then	ADV
fbem-6211	37	34	hypothesis	hypothesis	NOUN
fbem-6211	37	35	1	1	NUM
fbem-6211	37	36	holds	hold	VERB
fbem-6211	37	37	,	,	PUNCT
fbem-6211	37	38	otherwise	otherwise	ADV
fbem-6211	37	39	hypothesis	hypothesis	NOUN
fbem-6211	37	40	2	2	NUM
fbem-6211	37	41	holds	hold	NOUN
fbem-6211	37	42	.	.	PUNCT
fbem-6211	38	1	logit(fraud)=	logit(fraud)=	VERB
fbem-6211	38	2	α+	α+	PRON
fbem-6211	38	3	𝛽	𝛽	NOUN
fbem-6211	38	4	*	*	PUNCT
fbem-6211	38	5	ind+	ind+	PROPN
fbem-6211	38	6	𝛽	𝛽	PROPN
fbem-6211	38	7	*	*	PUNCT
fbem-6211	39	1	roa+	roa+	PROPN
fbem-6211	39	2	𝛽	𝛽	PROPN
fbem-6211	39	3	*	*	PUNCT
fbem-6211	39	4	lev+	lev+	NOUN
fbem-6211	39	5	𝛽	𝛽	NOUN
fbem-6211	39	6	*	*	PUNCT
fbem-6211	39	7	board+𝛽	board+𝛽	PROPN
fbem-6211	39	8	*	*	PUNCT
fbem-6211	39	9	size+𝛽	size+𝛽	NOUN
fbem-6211	39	10	*	*	PUNCT
fbem-6211	39	11	trouble+𝛽	trouble+𝛽	PRON
fbem-6211	39	12	*	*	PUNCT
fbem-6211	39	13	audit	audit	NOUN
fbem-6211	39	14	3.3	3.3	NUM
fbem-6211	39	15	.	.	PUNCT
fbem-6211	40	1	descriptive	descriptive	ADJ
fbem-6211	40	2	statistics	statistic	NOUN
fbem-6211	40	3	and	and	CCONJ
fbem-6211	40	4	analysis	analysis	NOUN
fbem-6211	40	5	table	table	NOUN
fbem-6211	40	6	2	2	NUM
fbem-6211	40	7	.	.	PUNCT
fbem-6211	40	8	descriptive	descriptive	ADJ
fbem-6211	40	9	statistics	statistic	NOUN
fbem-6211	40	10	of	of	ADP
fbem-6211	40	11	variables	variable	NOUN
fbem-6211	40	12	variable	variable	ADJ
fbem-6211	40	13	name	name	NOUN
fbem-6211	40	14	minimum	minimum	NOUN
fbem-6211	40	15	value	value	NOUN
fbem-6211	40	16	maximum	maximum	ADJ
fbem-6211	40	17	value	value	NOUN
fbem-6211	40	18	average	average	ADJ
fbem-6211	40	19	value	value	NOUN
fbem-6211	40	20	fraud	fraud	NOUN
fbem-6211	40	21	0	0	NUM
fbem-6211	40	22	1	1	NUM
fbem-6211	40	23	0.05	0.05	NUM
fbem-6211	40	24	ind1	ind1	NOUN
fbem-6211	40	25	0	0	NUM
fbem-6211	40	26	8	8	NUM
fbem-6211	40	27	3.24	3.24	NUM
fbem-6211	40	28	ind2	ind2	NOUN
fbem-6211	40	29	0.000000	0.000000	NUM
fbem-6211	40	30	0.800000	0.800000	NUM
fbem-6211	40	31	0.372216	0.372216	NUM
fbem-6211	40	32	roa	roa	NOUN
fbem-6211	40	33	-0.901284	-0.901284	NOUN
fbem-6211	40	34	2.939488	2.939488	NUM
fbem-6211	40	35	0.053522	0.053522	NUM
fbem-6211	40	36	lev	lev	NOUN
fbem-6211	40	37	0.007079	0.007079	NUM
fbem-6211	40	38	0.998544	0.998544	NUM
fbem-6211	40	39	0.452844	0.452844	NUM
fbem-6211	40	40	board	board	NOUN
fbem-6211	40	41	4	4	NUM
fbem-6211	40	42	18	18	NUM
fbem-6211	40	43	8.81	8.81	NUM
fbem-6211	40	44	size	size	NOUN
fbem-6211	40	45	477331.0500	477331.0500	NOUN
fbem-6211	40	46	2.73319e+12	2.73319e+12	NUM
fbem-6211	40	47	1.94015e+10	1.94015e+10	NUM
fbem-6211	40	48	trouble	trouble	NOUN
fbem-6211	40	49	0	0	NUM
fbem-6211	40	50	1	1	NUM
fbem-6211	40	51	0.23	0.23	NUM
fbem-6211	40	52	audit	audit	NOUN
fbem-6211	40	53	0	0	NUM
fbem-6211	40	54	1	1	NUM
fbem-6211	40	55	0.04	0.04	NUM
fbem-6211	40	56	table	table	NOUN
fbem-6211	40	57	2	2	NUM
fbem-6211	40	58	shows	show	VERB
fbem-6211	40	59	the	the	DET
fbem-6211	40	60	results	result	NOUN
fbem-6211	40	61	of	of	ADP
fbem-6211	40	62	descriptive	descriptive	ADJ
fbem-6211	40	63	statistics	statistic	NOUN
fbem-6211	40	64	of	of	ADP
fbem-6211	40	65	variables	variable	NOUN
fbem-6211	40	66	,	,	PUNCT
fbem-6211	40	67	from	from	ADP
fbem-6211	40	68	which	which	PRON
fbem-6211	40	69	it	it	PRON
fbem-6211	40	70	can	can	AUX
fbem-6211	40	71	be	be	AUX
fbem-6211	40	72	seen	see	VERB
fbem-6211	40	73	that	that	SCONJ
fbem-6211	40	74	:	:	PUNCT
fbem-6211	40	75	the	the	DET
fbem-6211	40	76	mean	mean	ADJ
fbem-6211	40	77	value	value	NOUN
fbem-6211	40	78	of	of	ADP
fbem-6211	40	79	the	the	DET
fbem-6211	40	80	proportion	proportion	NOUN
fbem-6211	40	81	of	of	ADP
fbem-6211	40	82	independent	independent	ADJ
fbem-6211	40	83	directors	director	NOUN
fbem-6211	40	84	is	be	AUX
fbem-6211	40	85	only	only	ADV
fbem-6211	40	86	37.22	37.22	NUM
fbem-6211	40	87	%	%	NOUN
fbem-6211	40	88	,	,	PUNCT
fbem-6211	40	89	and	and	CCONJ
fbem-6211	40	90	the	the	DET
fbem-6211	40	91	minimum	minimum	ADJ
fbem-6211	40	92	value	value	NOUN
fbem-6211	40	93	is	be	AUX
fbem-6211	40	94	0	0	NUM
fbem-6211	40	95	.	.	PUNCT
fbem-6211	41	1	this	this	PRON
fbem-6211	41	2	indicates	indicate	VERB
fbem-6211	41	3	that	that	SCONJ
fbem-6211	41	4	some	some	DET
fbem-6211	41	5	listed	list	VERB
fbem-6211	41	6	companies	company	NOUN
fbem-6211	41	7	in	in	ADP
fbem-6211	41	8	china	china	PROPN
fbem-6211	41	9	are	be	AUX
fbem-6211	41	10	not	not	PART
fbem-6211	41	11	very	very	ADV
fbem-6211	41	12	active	active	ADJ
fbem-6211	41	13	in	in	ADP
fbem-6211	41	14	setting	set	VERB
fbem-6211	41	15	up	up	ADP
fbem-6211	41	16	the	the	DET
fbem-6211	41	17	system	system	NOUN
fbem-6211	41	18	of	of	ADP
fbem-6211	41	19	independent	independent	ADJ
fbem-6211	41	20	directors	director	NOUN
fbem-6211	41	21	,	,	PUNCT
fbem-6211	41	22	and	and	CCONJ
fbem-6211	41	23	some	some	DET
fbem-6211	41	24	listed	list	VERB
fbem-6211	41	25	companies	company	NOUN
fbem-6211	41	26	do	do	AUX
fbem-6211	41	27	not	not	PART
fbem-6211	41	28	set	set	VERB
fbem-6211	41	29	up	up	ADP
fbem-6211	41	30	independent	independent	ADJ
fbem-6211	41	31	directors	director	NOUN
fbem-6211	41	32	according	accord	VERB
fbem-6211	41	33	to	to	ADP
fbem-6211	41	34	the	the	DET
fbem-6211	41	35	requirements	requirement	NOUN
fbem-6211	41	36	of	of	ADP
fbem-6211	41	37	the	the	DET
fbem-6211	41	38	securities	security	NOUN
fbem-6211	41	39	and	and	CCONJ
fbem-6211	41	40	futures	future	NOUN
fbem-6211	41	41	commission	commission	NOUN
fbem-6211	41	42	,	,	PUNCT
fbem-6211	41	43	or	or	CCONJ
fbem-6211	41	44	even	even	ADV
fbem-6211	41	45	do	do	AUX
fbem-6211	41	46	not	not	PART
fbem-6211	41	47	meet	meet	VERB
fbem-6211	41	48	the	the	DET
fbem-6211	41	49	minimum	minimum	ADJ
fbem-6211	41	50	requirements	requirement	NOUN
fbem-6211	41	51	.	.	PUNCT
fbem-6211	42	1	4	4	X
fbem-6211	42	2	.	.	X
fbem-6211	42	3	empirical	empirical	ADJ
fbem-6211	42	4	results	result	NOUN
fbem-6211	42	5	and	and	CCONJ
fbem-6211	42	6	analysis	analysis	NOUN
fbem-6211	42	7	the	the	DET
fbem-6211	42	8	model	model	NOUN
fbem-6211	42	9	regression	regression	NOUN
fbem-6211	42	10	results	result	NOUN
fbem-6211	42	11	are	be	AUX
fbem-6211	42	12	shown	show	VERB
fbem-6211	42	13	in	in	ADP
fbem-6211	42	14	table	table	NOUN
fbem-6211	42	15	3	3	NUM
fbem-6211	42	16	.	.	PUNCT
fbem-6211	43	1	for	for	ADP
fbem-6211	43	2	the	the	DET
fbem-6211	43	3	test	test	NOUN
fbem-6211	43	4	of	of	ADP
fbem-6211	43	5	the	the	DET
fbem-6211	43	6	model	model	NOUN
fbem-6211	43	7	,	,	PUNCT
fbem-6211	43	8	the	the	DET
fbem-6211	43	9	hosmer	hosmer	NOUN
fbem-6211	43	10	and	and	CCONJ
fbem-6211	43	11	lemeshow	lemeshow	ADJ
fbem-6211	43	12	goodness	goodness	NOUN
fbem-6211	43	13	-	-	PUNCT
fbem-6211	43	14	of	of	ADP
fbem-6211	43	15	-	-	PUNCT
fbem-6211	43	16	fit	fit	ADJ
fbem-6211	43	17	test	test	NOUN
fbem-6211	43	18	was	be	AUX
fbem-6211	43	19	used	use	VERB
fbem-6211	43	20	in	in	ADP
fbem-6211	43	21	this	this	DET
fbem-6211	43	22	paper	paper	NOUN
fbem-6211	43	23	.	.	PUNCT
fbem-6211	44	1	in	in	ADP
fbem-6211	44	2	the	the	DET
fbem-6211	44	3	hosmer	hosmer	NOUN
fbem-6211	44	4	and	and	CCONJ
fbem-6211	44	5	lemeshow	lemeshow	ADJ
fbem-6211	44	6	test	test	NOUN
fbem-6211	44	7	,	,	PUNCT
fbem-6211	44	8	the	the	DET
fbem-6211	44	9	chi	chi	ADJ
fbem-6211	44	10	-	-	PUNCT
fbem-6211	44	11	square	square	ADJ
fbem-6211	44	12	value	value	NOUN
fbem-6211	44	13	of	of	ADP
fbem-6211	44	14	the	the	DET
fbem-6211	44	15	model	model	NOUN
fbem-6211	44	16	is	be	AUX
fbem-6211	44	17	12.796	12.796	NUM
fbem-6211	44	18	and	and	CCONJ
fbem-6211	44	19	the	the	DET
fbem-6211	44	20	significance	significance	NOUN
fbem-6211	44	21	is	be	AUX
fbem-6211	44	22	0.119	0.119	NUM
fbem-6211	44	23	(	(	PUNCT
fbem-6211	44	24	greater	great	ADJ
fbem-6211	44	25	than	than	ADP
fbem-6211	44	26	0.05	0.05	NUM
fbem-6211	44	27	)	)	PUNCT
fbem-6211	44	28	,	,	PUNCT
fbem-6211	44	29	which	which	PRON
fbem-6211	44	30	indicates	indicate	VERB
fbem-6211	44	31	that	that	SCONJ
fbem-6211	44	32	the	the	DET
fbem-6211	44	33	goodness	goodness	NOUN
fbem-6211	44	34	of	of	ADP
fbem-6211	44	35	fit	fit	NOUN
fbem-6211	44	36	is	be	AUX
fbem-6211	44	37	good	good	ADJ
fbem-6211	44	38	,	,	PUNCT
fbem-6211	44	39	therefore	therefore	ADV
fbem-6211	44	40	,	,	PUNCT
fbem-6211	44	41	the	the	DET
fbem-6211	44	42	binary	binary	PROPN
fbem-6211	44	43	logistic	logistic	PROPN
fbem-6211	44	44	model	model	NOUN
fbem-6211	44	45	chosen	choose	VERB
fbem-6211	44	46	in	in	ADP
fbem-6211	44	47	this	this	DET
fbem-6211	44	48	paper	paper	NOUN
fbem-6211	44	49	can	can	AUX
fbem-6211	44	50	better	well	ADV
fbem-6211	44	51	reflect	reflect	VERB
fbem-6211	44	52	the	the	DET
fbem-6211	44	53	influence	influence	NOUN
fbem-6211	44	54	of	of	ADP
fbem-6211	44	55	independent	independent	ADJ
fbem-6211	44	56	directors	director	NOUN
fbem-6211	44	57	on	on	ADP
fbem-6211	44	58	financial	financial	ADJ
fbem-6211	44	59	fraud	fraud	NOUN
fbem-6211	44	60	behavior	behavior	NOUN
fbem-6211	44	61	.	.	PUNCT
fbem-6211	45	1	table	table	NOUN
fbem-6211	45	2	3	3	NUM
fbem-6211	45	3	.	.	PUNCT
fbem-6211	46	1	analysis	analysis	NOUN
fbem-6211	46	2	of	of	ADP
fbem-6211	46	3	binary	binary	ADJ
fbem-6211	46	4	logistic	logistic	ADJ
fbem-6211	46	5	regression	regression	NOUN
fbem-6211	46	6	results	result	VERB
fbem-6211	46	7	variable	variable	ADJ
fbem-6211	46	8	name	name	NOUN
fbem-6211	46	9	coefficient	coefficient	NOUN
fbem-6211	46	10	standard	standard	ADJ
fbem-6211	46	11	error	error	NOUN
fbem-6211	46	12	significance	significance	NOUN
fbem-6211	46	13	confidence	confidence	NOUN
fbem-6211	46	14	interval	interval	NOUN
fbem-6211	46	15	percentage	percentage	NOUN
fbem-6211	46	16	of	of	ADP
fbem-6211	46	17	independent	independent	ADJ
fbem-6211	46	18	directors	director	NOUN
fbem-6211	46	19	(	(	PUNCT
fbem-6211	46	20	ind1	ind1	PROPN
fbem-6211	46	21	)	)	PUNCT
fbem-6211	47	1	1.2919254	1.2919254	NUM
fbem-6211	47	2	2.3547	2.3547	NUM
fbem-6211	47	3	0.049	0.049	NUM
fbem-6211	47	4	-9.91347	-9.91347	ADJ
fbem-6211	47	5	number	number	NOUN
fbem-6211	47	6	of	of	ADP
fbem-6211	47	7	independent	independent	ADJ
fbem-6211	47	8	directors	director	NOUN
fbem-6211	47	9	(	(	PUNCT
fbem-6211	47	10	ind2	ind2	PROPN
fbem-6211	47	11	)	)	PUNCT
fbem-6211	47	12	1.951355	1.951355	NUM
fbem-6211	47	13	0.993206	0.993206	NUM
fbem-6211	47	14	0.024	0.024	NUM
fbem-6211	47	15	0.0047074	0.0047074	NUM
fbem-6211	47	16	return	return	NOUN
fbem-6211	47	17	on	on	ADP
fbem-6211	47	18	total	total	ADJ
fbem-6211	47	19	assets	asset	NOUN
fbem-6211	47	20	(	(	PUNCT
fbem-6211	47	21	roa	roa	NOUN
fbem-6211	47	22	)	)	PUNCT
fbem-6211	47	23	-1.741582	-1.741582	PUNCT
fbem-6211	48	1	0.3625534	0.3625534	NUM
fbem-6211	48	2	0.000	0.000	NUM
fbem-6211	48	3	-2.452173	-2.452173	NOUN
fbem-6211	48	4	gearing	gear	VERB
fbem-6211	48	5	ratio	ratio	NOUN
fbem-6211	48	6	(	(	PUNCT
fbem-6211	48	7	lev	lev	NOUN
fbem-6211	48	8	)	)	PUNCT
fbem-6211	48	9	0.33338	0.33338	NUM
fbem-6211	48	10	0.1736913	0.1736913	NUM
fbem-6211	48	11	0.045	0.045	NUM
fbem-6211	48	12	-0.0070487	-0.0070487	NOUN
fbem-6211	48	13	board	board	NOUN
fbem-6211	48	14	size	size	NOUN
fbem-6211	48	15	(	(	PUNCT
fbem-6211	48	16	board	board	NOUN
fbem-6211	48	17	)	)	PUNCT
fbem-6211	48	18	-0.3219857	-0.3219857	VERB
fbem-6211	48	19	0.1163953	0.1163953	NUM
fbem-6211	48	20	0.006	0.006	NUM
fbem-6211	48	21	-0.5501163	-0.5501163	NOUN
fbem-6211	48	22	company	company	NOUN
fbem-6211	48	23	size	size	NOUN
fbem-6211	48	24	(	(	PUNCT
fbem-6211	48	25	size	size	NOUN
fbem-6211	48	26	)	)	PUNCT
fbem-6211	48	27	-0.0668302	-0.0668302	NOUN
fbem-6211	48	28	0.028795	0.028795	NUM
fbem-6211	48	29	0.020	0.020	NUM
fbem-6211	48	30	-0.1232673	-0.1232673	NOUN
fbem-6211	49	1	whether	whether	SCONJ
fbem-6211	49	2	there	there	PRON
fbem-6211	49	3	is	be	VERB
fbem-6211	49	4	financial	financial	ADJ
fbem-6211	49	5	distress	distress	NOUN
fbem-6211	49	6	(	(	PUNCT
fbem-6211	49	7	double	double	ADJ
fbem-6211	49	8	)	)	PUNCT
fbem-6211	49	9	0.9497838	0.9497838	NUM
fbem-6211	49	10	0.0768199	0.0768199	NUM
fbem-6211	49	11	0.000	0.000	NUM
fbem-6211	49	12	0.7992197	0.7992197	NUM
fbem-6211	49	13	audit	audit	NOUN
fbem-6211	49	14	opinion	opinion	NOUN
fbem-6211	49	15	(	(	PUNCT
fbem-6211	49	16	audit	audit	NOUN
fbem-6211	49	17	)	)	PUNCT
fbem-6211	49	18	1.037277	1.037277	NUM
fbem-6211	49	19	0.1066461	0.1066461	NUM
fbem-6211	49	20	0.000	0.000	NUM
fbem-6211	49	21	0.8282546	0.8282546	NUM
fbem-6211	49	22	constant	constant	ADJ
fbem-6211	49	23	term	term	NOUN
fbem-6211	49	24	-0.6070613	-0.6070613	NOUN
fbem-6211	49	25	0.9519261	0.9519261	NUM
fbem-6211	49	26	0.524	0.524	NUM
fbem-6211	49	27	-1.25868	-1.25868	NOUN
fbem-6211	49	28	the	the	DET
fbem-6211	49	29	regression	regression	NOUN
fbem-6211	49	30	results	result	NOUN
fbem-6211	49	31	show	show	VERB
fbem-6211	49	32	that	that	SCONJ
fbem-6211	49	33	the	the	DET
fbem-6211	49	34	ratio	ratio	NOUN
fbem-6211	49	35	of	of	ADP
fbem-6211	49	36	independent	independent	ADJ
fbem-6211	49	37	directors	director	NOUN
fbem-6211	49	38	and	and	CCONJ
fbem-6211	49	39	the	the	DET
fbem-6211	49	40	number	number	NOUN
fbem-6211	49	41	of	of	ADP
fbem-6211	49	42	independent	independent	ADJ
fbem-6211	49	43	directors	director	NOUN
fbem-6211	49	44	are	be	AUX
fbem-6211	49	45	positively	positively	ADV
fbem-6211	49	46	correlated	correlate	VERB
fbem-6211	49	47	with	with	ADP
fbem-6211	49	48	financial	financial	ADJ
fbem-6211	49	49	fraud	fraud	NOUN
fbem-6211	49	50	at	at	ADP
fbem-6211	49	51	the	the	DET
fbem-6211	49	52	5	5	NUM
fbem-6211	49	53	%	%	NOUN
fbem-6211	49	54	level	level	NOUN
fbem-6211	49	55	,	,	PUNCT
fbem-6211	49	56	indicating	indicate	VERB
fbem-6211	49	57	that	that	SCONJ
fbem-6211	49	58	the	the	PRON
fbem-6211	49	59	higher	high	ADJ
fbem-6211	49	60	the	the	DET
fbem-6211	49	61	number	number	NOUN
fbem-6211	49	62	and	and	CCONJ
fbem-6211	49	63	share	share	NOUN
fbem-6211	49	64	of	of	ADP
fbem-6211	49	65	independent	independent	ADJ
fbem-6211	49	66	directors	director	NOUN
fbem-6211	49	67	in	in	ADP
fbem-6211	49	68	the	the	DET
fbem-6211	49	69	company	company	NOUN
fbem-6211	49	70	's	's	PART
fbem-6211	49	71	shareholders	shareholder	NOUN
fbem-6211	49	72	,	,	PUNCT
fbem-6211	49	73	the	the	PRON
fbem-6211	49	74	higher	high	ADJ
fbem-6211	49	75	the	the	DET
fbem-6211	49	76	risk	risk	NOUN
fbem-6211	49	77	of	of	ADP
fbem-6211	49	78	fraud	fraud	NOUN
fbem-6211	49	79	in	in	ADP
fbem-6211	49	80	the	the	DET
fbem-6211	49	81	company	company	NOUN
fbem-6211	49	82	,	,	PUNCT
fbem-6211	49	83	and	and	CCONJ
fbem-6211	49	84	that	that	SCONJ
fbem-6211	49	85	the	the	DET
fbem-6211	49	86	current	current	ADJ
fbem-6211	49	87	independent	independent	ADJ
fbem-6211	49	88	director	director	NOUN
fbem-6211	49	89	mechanism	mechanism	NOUN
fbem-6211	49	90	is	be	AUX
fbem-6211	49	91	not	not	PART
fbem-6211	49	92	particularly	particularly	ADV
fbem-6211	49	93	effective	effective	ADJ
fbem-6211	49	94	.	.	PUNCT
fbem-6211	50	1	from	from	ADP
fbem-6211	50	2	the	the	DET
fbem-6211	50	3	regression	regression	NOUN
fbem-6211	50	4	results	result	NOUN
fbem-6211	50	5	of	of	ADP
fbem-6211	50	6	the	the	DET
fbem-6211	50	7	control	control	NOUN
fbem-6211	50	8	variables	variable	NOUN
fbem-6211	50	9	,	,	PUNCT
fbem-6211	50	10	companies	company	NOUN
fbem-6211	50	11	in	in	ADP
fbem-6211	50	12	financial	financial	ADJ
fbem-6211	50	13	difficulties	difficulty	NOUN
fbem-6211	50	14	and	and	CCONJ
fbem-6211	50	15	companies	company	NOUN
fbem-6211	50	16	with	with	ADP
fbem-6211	50	17	high	high	ADJ
fbem-6211	50	18	gearing	gearing	NOUN
fbem-6211	50	19	and	and	CCONJ
fbem-6211	50	20	standard	standard	ADJ
fbem-6211	50	21	unqualified	unqualified	ADJ
fbem-6211	50	22	audit	audit	NOUN
fbem-6211	50	23	opinions	opinion	NOUN
fbem-6211	50	24	are	be	AUX
fbem-6211	50	25	more	more	ADV
fbem-6211	50	26	likely	likely	ADJ
fbem-6211	50	27	to	to	PART
fbem-6211	50	28	commit	commit	VERB
fbem-6211	50	29	fraud	fraud	NOUN
fbem-6211	50	30	;	;	PUNCT
fbem-6211	50	31	meanwhile	meanwhile	ADV
fbem-6211	50	32	,	,	PUNCT
fbem-6211	50	33	if	if	SCONJ
fbem-6211	50	34	the	the	DET
fbem-6211	50	35	return	return	NOUN
fbem-6211	50	36	on	on	ADP
fbem-6211	50	37	total	total	ADJ
fbem-6211	50	38	assets	asset	NOUN
fbem-6211	50	39	,	,	PUNCT
fbem-6211	50	40	board	board	NOUN
fbem-6211	50	41	size	size	NOUN
fbem-6211	50	42	,	,	PUNCT
fbem-6211	50	43	and	and	CCONJ
fbem-6211	50	44	company	company	NOUN
fbem-6211	50	45	size	size	NOUN
fbem-6211	50	46	are	be	AUX
fbem-6211	50	47	significantly	significantly	ADV
fbem-6211	50	48	negatively	negatively	ADV
fbem-6211	50	49	correlated	correlate	VERB
fbem-6211	50	50	,	,	PUNCT
fbem-6211	50	51	it	it	PRON
fbem-6211	50	52	indicates	indicate	VERB
fbem-6211	50	53	that	that	SCONJ
fbem-6211	50	54	the	the	DET
fbem-6211	50	55	more	more	ADV
fbem-6211	50	56	profitable	profitable	ADJ
fbem-6211	50	57	the	the	DET
fbem-6211	50	58	company	company	NOUN
fbem-6211	50	59	is	be	AUX
fbem-6211	50	60	,	,	PUNCT
fbem-6211	50	61	the	the	PRON
fbem-6211	50	62	larger	large	ADJ
fbem-6211	50	63	the	the	DET
fbem-6211	50	64	board	board	NOUN
fbem-6211	50	65	and	and	CCONJ
fbem-6211	50	66	the	the	PRON
fbem-6211	50	67	stronger	strong	ADJ
fbem-6211	50	68	the	the	DET
fbem-6211	50	69	assets	asset	NOUN
fbem-6211	50	70	,	,	PUNCT
fbem-6211	50	71	the	the	PRON
fbem-6211	50	72	less	less	ADV
fbem-6211	50	73	likely	likely	ADJ
fbem-6211	50	74	it	it	PRON
fbem-6211	50	75	is	be	AUX
fbem-6211	50	76	to	to	PART
fbem-6211	50	77	commit	commit	VERB
fbem-6211	50	78	financial	financial	ADJ
fbem-6211	50	79	fraud	fraud	NOUN
fbem-6211	50	80	.	.	PUNCT
fbem-6211	51	1	5	5	X
fbem-6211	51	2	.	.	X
fbem-6211	51	3	research	research	NOUN
fbem-6211	51	4	conclusions	conclusion	NOUN
fbem-6211	51	5	and	and	CCONJ
fbem-6211	51	6	implications	implication	NOUN
fbem-6211	51	7	this	this	DET
fbem-6211	51	8	paper	paper	NOUN
fbem-6211	51	9	examines	examine	VERB
fbem-6211	51	10	the	the	DET
fbem-6211	51	11	association	association	NOUN
fbem-6211	51	12	between	between	ADP
fbem-6211	51	13	independent	independent	ADJ
fbem-6211	51	14	directorship	directorship	NOUN
fbem-6211	51	15	and	and	CCONJ
fbem-6211	51	16	financial	financial	ADJ
fbem-6211	51	17	fraud	fraud	NOUN
fbem-6211	51	18	in	in	ADP
fbem-6211	51	19	china	china	PROPN
fbem-6211	51	20	through	through	ADP
fbem-6211	51	21	an	an	DET
fbem-6211	51	22	empirical	empirical	ADJ
fbem-6211	51	23	study	study	NOUN
fbem-6211	51	24	of	of	ADP
fbem-6211	51	25	chinese	chinese	ADJ
fbem-6211	51	26	listed	list	VERB
fbem-6211	51	27	firms	firm	NOUN
fbem-6211	51	28	that	that	PRON
fbem-6211	51	29	have	have	AUX
fbem-6211	51	30	committed	commit	VERB
fbem-6211	51	31	financial	financial	ADJ
fbem-6211	51	32	fraud	fraud	NOUN
fbem-6211	51	33	from	from	ADP
fbem-6211	51	34	2010	2010	NUM
fbem-6211	51	35	to	to	ADP
fbem-6211	51	36	2020	2020	NUM
fbem-6211	51	37	.	.	PUNCT
fbem-6211	52	1	the	the	DET
fbem-6211	52	2	results	result	NOUN
fbem-6211	52	3	show	show	VERB
fbem-6211	52	4	that	that	SCONJ
fbem-6211	52	5	the	the	DET
fbem-6211	52	6	number	number	NOUN
fbem-6211	52	7	of	of	ADP
fbem-6211	52	8	independent	independent	ADJ
fbem-6211	52	9	directors	director	NOUN
fbem-6211	52	10	and	and	CCONJ
fbem-6211	52	11	the	the	DET
fbem-6211	52	12	percentage	percentage	NOUN
fbem-6211	52	13	of	of	ADP
fbem-6211	52	14	independent	independent	ADJ
fbem-6211	52	15	directors	director	NOUN
fbem-6211	52	16	are	be	AUX
fbem-6211	52	17	significantly	significantly	ADV
fbem-6211	52	18	and	and	CCONJ
fbem-6211	52	19	positively	positively	ADV
fbem-6211	52	20	correlated	correlate	VERB
fbem-6211	52	21	with	with	ADP
fbem-6211	52	22	financial	financial	ADJ
fbem-6211	52	23	fraud	fraud	NOUN
fbem-6211	52	24	,	,	PUNCT
fbem-6211	52	25	indicating	indicate	VERB
fbem-6211	52	26	that	that	SCONJ
fbem-6211	52	27	the	the	DET
fbem-6211	52	28	independent	independent	ADJ
fbem-6211	52	29	directorship	directorship	NOUN
fbem-6211	52	30	system	system	NOUN
fbem-6211	52	31	does	do	AUX
fbem-6211	52	32	not	not	PART
fbem-6211	52	33	have	have	VERB
fbem-6211	52	34	an	an	DET
fbem-6211	52	35	effective	effective	ADJ
fbem-6211	52	36	impact	impact	NOUN
fbem-6211	52	37	on	on	ADP
fbem-6211	52	38	corporate	corporate	ADJ
fbem-6211	52	39	management	management	NOUN
fbem-6211	52	40	in	in	ADP
fbem-6211	52	41	china	china	PROPN
fbem-6211	52	42	,	,	PUNCT
fbem-6211	52	43	which	which	PRON
fbem-6211	52	44	directly	directly	ADV
fbem-6211	52	45	leads	lead	VERB
fbem-6211	52	46	to	to	ADP
fbem-6211	52	47	financial	financial	ADJ
fbem-6211	52	48	fraud	fraud	NOUN
fbem-6211	52	49	.	.	PUNCT
fbem-6211	53	1	the	the	DET
fbem-6211	53	2	results	result	NOUN
fbem-6211	53	3	of	of	ADP
fbem-6211	53	4	this	this	DET
fbem-6211	53	5	paper	paper	NOUN
fbem-6211	53	6	also	also	ADV
fbem-6211	53	7	suggest	suggest	VERB
fbem-6211	53	8	that	that	SCONJ
fbem-6211	53	9	the	the	DET
fbem-6211	53	10	independent	independent	ADJ
fbem-6211	53	11	directorship	directorship	NOUN
fbem-6211	53	12	in	in	ADP
fbem-6211	53	13	china	china	PROPN
fbem-6211	53	14	does	do	AUX
fbem-6211	53	15	not	not	PART
fbem-6211	53	16	have	have	VERB
fbem-6211	53	17	a	a	DET
fbem-6211	53	18	control	control	NOUN
fbem-6211	53	19	effect	effect	NOUN
fbem-6211	53	20	on	on	ADP
fbem-6211	53	21	corporate	corporate	ADJ
fbem-6211	53	22	financial	financial	ADJ
fbem-6211	53	23	fraud	fraud	NOUN
fbem-6211	53	24	.	.	PUNCT
fbem-6211	54	1	this	this	PRON
fbem-6211	54	2	may	may	AUX
fbem-6211	54	3	be	be	AUX
fbem-6211	54	4	related	relate	VERB
fbem-6211	54	5	to	to	ADP
fbem-6211	54	6	the	the	DET
fbem-6211	54	7	unique	unique	ADJ
fbem-6211	54	8	environment	environment	NOUN
fbem-6211	54	9	of	of	ADP
fbem-6211	54	10	chinese	chinese	ADJ
fbem-6211	54	11	companies	company	NOUN
fbem-6211	54	12	on	on	ADP
fbem-6211	54	13	the	the	DET
fbem-6211	54	14	one	one	NUM
fbem-6211	54	15	hand	hand	NOUN
fbem-6211	54	16	,	,	PUNCT
fbem-6211	54	17	and	and	CCONJ
fbem-6211	54	18	on	on	ADP
fbem-6211	54	19	the	the	DET
fbem-6211	54	20	other	other	ADJ
fbem-6211	54	21	hand	hand	NOUN
fbem-6211	54	22	,	,	PUNCT
fbem-6211	54	23	it	it	PRON
fbem-6211	54	24	may	may	AUX
fbem-6211	54	25	be	be	AUX
fbem-6211	54	26	due	due	ADJ
fbem-6211	54	27	to	to	ADP
fbem-6211	54	28	the	the	DET
fbem-6211	54	29	fact	fact	NOUN
fbem-6211	54	30	that	that	SCONJ
fbem-6211	54	31	many	many	ADJ
fbem-6211	54	32	listed	list	VERB
fbem-6211	54	33	199	199	NUM
fbem-6211	54	34	companies	company	NOUN
fbem-6211	54	35	in	in	ADP
fbem-6211	54	36	china	china	PROPN
fbem-6211	54	37	have	have	AUX
fbem-6211	54	38	introduced	introduce	VERB
fbem-6211	54	39	the	the	DET
fbem-6211	54	40	system	system	NOUN
fbem-6211	54	41	of	of	ADP
fbem-6211	54	42	independent	independent	ADJ
fbem-6211	54	43	directors	director	NOUN
fbem-6211	54	44	mostly	mostly	ADV
fbem-6211	54	45	to	to	PART
fbem-6211	54	46	meet	meet	VERB
fbem-6211	54	47	the	the	DET
fbem-6211	54	48	requirements	requirement	NOUN
fbem-6211	54	49	of	of	ADP
fbem-6211	54	50	the	the	DET
fbem-6211	54	51	government	government	NOUN
fbem-6211	54	52	's	's	PART
fbem-6211	54	53	regulatory	regulatory	ADJ
fbem-6211	54	54	policies	policy	NOUN
fbem-6211	54	55	or	or	CCONJ
fbem-6211	54	56	to	to	PART
fbem-6211	54	57	demonstrate	demonstrate	VERB
fbem-6211	54	58	the	the	DET
fbem-6211	54	59	legitimacy	legitimacy	NOUN
fbem-6211	54	60	of	of	ADP
fbem-6211	54	61	their	their	PRON
fbem-6211	54	62	companies	company	NOUN
fbem-6211	54	63	to	to	ADP
fbem-6211	54	64	the	the	DET
fbem-6211	54	65	public	public	NOUN
fbem-6211	54	66	,	,	PUNCT
fbem-6211	54	67	rather	rather	ADV
fbem-6211	54	68	than	than	ADP
fbem-6211	54	69	out	out	ADP
fbem-6211	54	70	of	of	ADP
fbem-6211	54	71	personal	personal	ADJ
fbem-6211	54	72	volition	volition	NOUN
fbem-6211	54	73	.	.	PUNCT
fbem-6211	55	1	as	as	SCONJ
fbem-6211	55	2	the	the	DET
fbem-6211	55	3	election	election	NOUN
fbem-6211	55	4	and	and	CCONJ
fbem-6211	55	5	decision	decision	NOUN
fbem-6211	55	6	-	-	PUNCT
fbem-6211	55	7	making	make	VERB
fbem-6211	55	8	power	power	NOUN
fbem-6211	55	9	of	of	ADP
fbem-6211	55	10	independent	independent	ADJ
fbem-6211	55	11	directors	director	NOUN
fbem-6211	55	12	are	be	AUX
fbem-6211	55	13	highly	highly	ADV
fbem-6211	55	14	concentrated	concentrated	ADJ
fbem-6211	55	15	in	in	ADP
fbem-6211	55	16	the	the	DET
fbem-6211	55	17	hands	hand	NOUN
fbem-6211	55	18	of	of	ADP
fbem-6211	55	19	major	major	ADJ
fbem-6211	55	20	shareholders	shareholder	NOUN
fbem-6211	55	21	,	,	PUNCT
fbem-6211	55	22	and	and	CCONJ
fbem-6211	55	23	based	base	VERB
fbem-6211	55	24	on	on	ADP
fbem-6211	55	25	their	their	PRON
fbem-6211	55	26	own	own	ADJ
fbem-6211	55	27	consideration	consideration	NOUN
fbem-6211	55	28	,	,	PUNCT
fbem-6211	55	29	major	major	ADJ
fbem-6211	55	30	shareholders	shareholder	NOUN
fbem-6211	55	31	often	often	ADV
fbem-6211	55	32	use	use	VERB
fbem-6211	55	33	their	their	PRON
fbem-6211	55	34	own	own	ADJ
fbem-6211	55	35	authority	authority	NOUN
fbem-6211	55	36	to	to	PART
fbem-6211	55	37	select	select	VERB
fbem-6211	55	38	people	people	NOUN
fbem-6211	55	39	related	relate	VERB
fbem-6211	55	40	to	to	ADP
fbem-6211	55	41	their	their	PRON
fbem-6211	55	42	own	own	ADJ
fbem-6211	55	43	interests	interest	NOUN
fbem-6211	55	44	as	as	ADP
fbem-6211	55	45	independent	independent	ADJ
fbem-6211	55	46	directors	director	NOUN
fbem-6211	55	47	,	,	PUNCT
fbem-6211	55	48	thus	thus	ADV
fbem-6211	55	49	giving	give	VERB
fbem-6211	55	50	rise	rise	NOUN
fbem-6211	55	51	to	to	ADP
fbem-6211	55	52	"	"	PUNCT
fbem-6211	55	53	vase	vase	NOUN
fbem-6211	55	54	directors	director	NOUN
fbem-6211	55	55	"	"	PUNCT
fbem-6211	55	56	.	.	PUNCT
fbem-6211	56	1	therefore	therefore	ADV
fbem-6211	56	2	,	,	PUNCT
fbem-6211	56	3	the	the	DET
fbem-6211	56	4	relevant	relevant	ADJ
fbem-6211	56	5	regulatory	regulatory	ADJ
fbem-6211	56	6	authorities	authority	NOUN
fbem-6211	56	7	should	should	AUX
fbem-6211	56	8	improve	improve	VERB
fbem-6211	56	9	the	the	DET
fbem-6211	56	10	current	current	ADJ
fbem-6211	56	11	management	management	NOUN
fbem-6211	56	12	system	system	NOUN
fbem-6211	56	13	of	of	ADP
fbem-6211	56	14	independent	independent	ADJ
fbem-6211	56	15	directors	director	NOUN
fbem-6211	56	16	,	,	PUNCT
fbem-6211	56	17	so	so	SCONJ
fbem-6211	56	18	that	that	SCONJ
fbem-6211	56	19	it	it	PRON
fbem-6211	56	20	can	can	AUX
fbem-6211	56	21	play	play	VERB
fbem-6211	56	22	an	an	DET
fbem-6211	56	23	active	active	ADJ
fbem-6211	56	24	management	management	NOUN
fbem-6211	56	25	role	role	NOUN
fbem-6211	56	26	and	and	CCONJ
fbem-6211	56	27	enhance	enhance	VERB
fbem-6211	56	28	the	the	DET
fbem-6211	56	29	usefulness	usefulness	NOUN
fbem-6211	56	30	of	of	ADP
fbem-6211	56	31	the	the	DET
fbem-6211	56	32	relevant	relevant	ADJ
fbem-6211	56	33	policy	policy	NOUN
fbem-6211	56	34	information	information	NOUN
fbem-6211	56	35	.	.	PUNCT
fbem-6211	57	1	the	the	DET
fbem-6211	57	2	independent	independent	ADJ
fbem-6211	57	3	director	director	NOUN
fbem-6211	57	4	system	system	NOUN
fbem-6211	57	5	should	should	AUX
fbem-6211	57	6	be	be	AUX
fbem-6211	57	7	further	far	ADV
fbem-6211	57	8	improved	improve	VERB
fbem-6211	57	9	so	so	SCONJ
fbem-6211	57	10	that	that	SCONJ
fbem-6211	57	11	it	it	PRON
fbem-6211	57	12	can	can	AUX
fbem-6211	57	13	play	play	VERB
fbem-6211	57	14	an	an	DET
fbem-6211	57	15	active	active	ADJ
fbem-6211	57	16	governance	governance	NOUN
fbem-6211	57	17	function	function	NOUN
fbem-6211	57	18	to	to	PART
fbem-6211	57	19	improve	improve	VERB
fbem-6211	57	20	the	the	DET
fbem-6211	57	21	usefulness	usefulness	NOUN
fbem-6211	57	22	of	of	ADP
fbem-6211	57	23	information	information	NOUN
fbem-6211	57	24	for	for	ADP
fbem-6211	57	25	decision	decision	NOUN
fbem-6211	57	26	-	-	PUNCT
fbem-6211	57	27	making	making	NOUN
fbem-6211	57	28	.	.	PUNCT
fbem-6211	58	1	however	however	ADV
fbem-6211	58	2	,	,	PUNCT
fbem-6211	58	3	the	the	DET
fbem-6211	58	4	discussion	discussion	NOUN
fbem-6211	58	5	of	of	ADP
fbem-6211	58	6	independent	independent	ADJ
fbem-6211	58	7	directors	director	NOUN
fbem-6211	58	8	on	on	ADP
fbem-6211	58	9	financial	financial	ADJ
fbem-6211	58	10	fraud	fraud	NOUN
fbem-6211	58	11	in	in	ADP
fbem-6211	58	12	this	this	DET
fbem-6211	58	13	paper	paper	NOUN
fbem-6211	58	14	has	have	VERB
fbem-6211	58	15	some	some	DET
fbem-6211	58	16	shortcomings	shortcoming	NOUN
fbem-6211	58	17	and	and	CCONJ
fbem-6211	58	18	needs	need	VERB
fbem-6211	58	19	to	to	PART
fbem-6211	58	20	be	be	AUX
fbem-6211	58	21	expanded	expand	VERB
fbem-6211	58	22	and	and	CCONJ
fbem-6211	58	23	deepened	deepen	VERB
fbem-6211	58	24	in	in	ADP
fbem-6211	58	25	the	the	DET
fbem-6211	58	26	future	future	NOUN
fbem-6211	58	27	.	.	PUNCT
fbem-6211	59	1	the	the	DET
fbem-6211	59	2	theoretical	theoretical	ADJ
fbem-6211	59	3	limitation	limitation	NOUN
fbem-6211	59	4	of	of	ADP
fbem-6211	59	5	this	this	DET
fbem-6211	59	6	paper	paper	NOUN
fbem-6211	59	7	is	be	AUX
fbem-6211	59	8	that	that	SCONJ
fbem-6211	59	9	it	it	PRON
fbem-6211	59	10	only	only	ADV
fbem-6211	59	11	considers	consider	VERB
fbem-6211	59	12	the	the	DET
fbem-6211	59	13	influence	influence	NOUN
fbem-6211	59	14	of	of	ADP
fbem-6211	59	15	the	the	DET
fbem-6211	59	16	number	number	NOUN
fbem-6211	59	17	of	of	ADP
fbem-6211	59	18	independent	independent	ADJ
fbem-6211	59	19	directors	director	NOUN
fbem-6211	59	20	and	and	CCONJ
fbem-6211	59	21	the	the	DET
fbem-6211	59	22	proportion	proportion	NOUN
fbem-6211	59	23	of	of	ADP
fbem-6211	59	24	independent	independent	ADJ
fbem-6211	59	25	directors	director	NOUN
fbem-6211	59	26	on	on	ADP
fbem-6211	59	27	financial	financial	ADJ
fbem-6211	59	28	fraud	fraud	NOUN
fbem-6211	59	29	.	.	PUNCT
fbem-6211	60	1	references	reference	NOUN
fbem-6211	60	2	[	[	X
fbem-6211	60	3	1	1	NUM
fbem-6211	60	4	]	]	X
fbem-6211	60	5	fang	fang	X
fbem-6211	60	6	xiaoyi	xiaoyi	PROPN
fbem-6211	60	7	,	,	PUNCT
fbem-6211	60	8	zhang	zhang	PROPN
fbem-6211	60	9	nan	nan	PROPN
fbem-6211	60	10	.	.	PUNCT
fbem-6211	61	1	analysis	analysis	NOUN
fbem-6211	61	2	of	of	ADP
fbem-6211	61	3	the	the	DET
fbem-6211	61	4	effectiveness	effectiveness	NOUN
fbem-6211	61	5	of	of	ADP
fbem-6211	61	6	independent	independent	ADJ
fbem-6211	61	7	director	director	NOUN
fbem-6211	61	8	system[j	system[j	NOUN
fbem-6211	61	9	]	]	PUNCT
fbem-6211	61	10	.	.	PUNCT
fbem-6211	62	1	business	business	NOUN
fbem-6211	62	2	times,2013,(19):8485	times,2013,(19):8485	PROPN
fbem-6211	62	3	.	.	PUNCT
fbem-6211	63	1	[	[	X
fbem-6211	63	2	2	2	X
fbem-6211	63	3	]	]	PUNCT
fbem-6211	63	4	ding	ding	ADJ
fbem-6211	63	5	wenbo	wenbo	NOUN
fbem-6211	63	6	.	.	PUNCT
fbem-6211	64	1	research	research	NOUN
fbem-6211	64	2	on	on	ADP
fbem-6211	64	3	the	the	DET
fbem-6211	64	4	effectiveness	effectiveness	NOUN
fbem-6211	64	5	of	of	ADP
fbem-6211	64	6	independent	independent	ADJ
fbem-6211	64	7	director	director	NOUN
fbem-6211	64	8	system	system	NOUN
fbem-6211	64	9	--	--	PUNCT
fbem-6211	64	10	an	an	DET
fbem-6211	64	11	empirical	empirical	ADJ
fbem-6211	64	12	test	test	NOUN
fbem-6211	64	13	based	base	VERB
fbem-6211	64	14	on	on	ADP
fbem-6211	64	15	a	a	DET
fbem-6211	64	16	-	-	PUNCT
fbem-6211	64	17	share	share	NOUN
fbem-6211	64	18	listed	list	VERB
fbem-6211	64	19	companies[j	companies[j	NOUN
fbem-6211	64	20	]	]	PUNCT
fbem-6211	64	21	.	.	PUNCT
fbem-6211	65	1	finance	finance	NOUN
fbem-6211	65	2	and	and	CCONJ
fbem-6211	65	3	accounting	accounting	NOUN
fbem-6211	65	4	monthly,2016,(35):3236	monthly,2016,(35):3236	PROPN
fbem-6211	65	5	.	.	PUNCT
fbem-6211	66	1	[	[	X
fbem-6211	66	2	3	3	NUM
fbem-6211	66	3	]	]	X
fbem-6211	66	4	niu	niu	PROPN
fbem-6211	66	5	yiheng	yiheng	PROPN
fbem-6211	66	6	.	.	PUNCT
fbem-6211	66	7	research	research	NOUN
fbem-6211	66	8	on	on	ADP
fbem-6211	66	9	the	the	DET
fbem-6211	66	10	motivation	motivation	NOUN
fbem-6211	66	11	and	and	CCONJ
fbem-6211	66	12	governance	governance	NOUN
fbem-6211	66	13	of	of	ADP
fbem-6211	66	14	financial	financial	ADJ
fbem-6211	66	15	fraud	fraud	NOUN
fbem-6211	66	16	in	in	ADP
fbem-6211	66	17	listed	list	VERB
fbem-6211	66	18	companies	company	NOUN
fbem-6211	66	19	:	:	PUNCT
fbem-6211	66	20	a	a	DET
fbem-6211	66	21	joint	joint	ADJ
fbem-6211	66	22	perspective	perspective	NOUN
fbem-6211	66	23	of	of	ADP
fbem-6211	66	24	fraud	fraud	NOUN
fbem-6211	66	25	risk	risk	NOUN
fbem-6211	66	26	factor	factor	NOUN
fbem-6211	66	27	theory	theory	NOUN
fbem-6211	66	28	and	and	CCONJ
fbem-6211	66	29	game	game	NOUN
fbem-6211	66	30	theory[j	theory[j	PROPN
fbem-6211	66	31	]	]	PUNCT
fbem-6211	66	32	.	.	PUNCT
fbem-6211	67	1	journal	journal	PROPN
fbem-6211	67	2	of	of	ADP
fbem-6211	67	3	finance	finance	NOUN
fbem-6211	67	4	and	and	CCONJ
fbem-6211	67	5	accounting	accounting	NOUN
fbem-6211	67	6	,	,	PUNCT
fbem-6211	67	7	2020,(12):99	2020,(12):99	NOUN
fbem-6211	67	8	-	-	PUNCT
fbem-6211	67	9	103	103	NUM
fbem-6211	67	10	.	.	PUNCT
fbem-6211	68	1	[	[	X
fbem-6211	68	2	4	4	X
fbem-6211	68	3	]	]	X
fbem-6211	68	4	ma	ma	PROPN
fbem-6211	68	5	jingjing	jingjing	PROPN
fbem-6211	68	6	.	.	PUNCT
fbem-6211	69	1	analysis	analysis	NOUN
fbem-6211	69	2	and	and	CCONJ
fbem-6211	69	3	governance	governance	NOUN
fbem-6211	69	4	of	of	ADP
fbem-6211	69	5	financial	financial	ADJ
fbem-6211	69	6	reporting	reporting	NOUN
fbem-6211	69	7	fraud	fraud	NOUN
fbem-6211	69	8	in	in	ADP
fbem-6211	69	9	listed	list	VERB
fbem-6211	69	10	companies[j	companies[j	NOUN
fbem-6211	69	11	]	]	PUNCT
fbem-6211	69	12	.	.	PUNCT
fbem-6211	70	1	friends	friend	NOUN
fbem-6211	70	2	of	of	ADP
fbem-6211	70	3	accounting	accounting	NOUN
fbem-6211	70	4	,	,	PUNCT
fbem-6211	70	5	2012	2012	NUM
fbem-6211	70	6	,	,	PUNCT
fbem-6211	70	7	(	(	PUNCT
fbem-6211	70	8	23	23	NUM
fbem-6211	70	9	):	):	PUNCT
fbem-6211	70	10	95	95	NUM
fbem-6211	70	11	-	-	SYM
fbem-6211	70	12	97	97	NUM
fbem-6211	70	13	.	.	PUNCT
fbem-6211	71	1	[	[	X
fbem-6211	71	2	5	5	X
fbem-6211	71	3	]	]	X
fbem-6211	71	4	liu	liu	PROPN
fbem-6211	71	5	lg	lg	PROPN
fbem-6211	71	6	,	,	PUNCT
fbem-6211	71	7	du	du	PROPN
fbem-6211	71	8	y.	y.	NOUN
fbem-6211	71	9	an	an	DET
fbem-6211	71	10	empirical	empirical	ADJ
fbem-6211	71	11	study	study	NOUN
fbem-6211	71	12	on	on	ADP
fbem-6211	71	13	the	the	DET
fbem-6211	71	14	relationship	relationship	NOUN
fbem-6211	71	15	between	between	ADP
fbem-6211	71	16	corporate	corporate	ADJ
fbem-6211	71	17	governance	governance	NOUN
fbem-6211	71	18	and	and	CCONJ
fbem-6211	71	19	accounting	accounting	NOUN
fbem-6211	71	20	information	information	NOUN
fbem-6211	71	21	quality[j	quality[j	PROPN
fbem-6211	71	22	]	]	PUNCT
fbem-6211	71	23	.	.	PUNCT
fbem-6211	72	1	accounting	accounting	PROPN
fbem-6211	72	2	research,2003,(02):28	research,2003,(02):28	PROPN
fbem-6211	72	3	-	-	PROPN
fbem-6211	72	4	36	36	NUM
fbem-6211	72	5	+	+	NOUN
fbem-6211	72	6	65	65	NUM
fbem-6211	72	7	.	.	PUNCT
fbem-6211	73	1	[	[	X
fbem-6211	73	2	6	6	NUM
fbem-6211	73	3	]	]	PUNCT
fbem-6211	73	4	mao	mao	NOUN
fbem-6211	73	5	zhihong	zhihong	PROPN
fbem-6211	73	6	,	,	PUNCT
fbem-6211	73	7	li	li	PROPN
fbem-6211	73	8	he	he	PROPN
fbem-6211	73	9	,	,	PUNCT
fbem-6211	73	10	zhang	zhang	PROPN
fbem-6211	73	11	xingming	xingming	PROPN
fbem-6211	73	12	.	.	PUNCT
fbem-6211	74	1	an	an	DET
fbem-6211	74	2	empirical	empirical	ADJ
fbem-6211	74	3	study	study	NOUN
fbem-6211	74	4	on	on	ADP
fbem-6211	74	5	the	the	DET
fbem-6211	74	6	relevance	relevance	NOUN
fbem-6211	74	7	of	of	ADP
fbem-6211	74	8	independent	independent	ADJ
fbem-6211	74	9	directorship	directorship	NOUN
fbem-6211	74	10	to	to	ADP
fbem-6211	74	11	financial	financial	ADJ
fbem-6211	74	12	reporting	reporting	NOUN
fbem-6211	74	13	fraud	fraud	NOUN
fbem-6211	74	14	[	[	X
fbem-6211	74	15	j	j	X
fbem-6211	74	16	]	]	X
fbem-6211	74	17	.	.	PUNCT
fbem-6211	75	1	friends	friend	NOUN
fbem-6211	75	2	of	of	ADP
fbem-6211	75	3	accounting	accounting	PROPN
fbem-6211	75	4	(	(	PUNCT
fbem-6211	75	5	midterm	midterm	PROPN
fbem-6211	75	6	journal	journal	PROPN
fbem-6211	75	7	)	)	PUNCT
fbem-6211	75	8	,	,	PUNCT
fbem-6211	75	9	2006	2006	NUM
fbem-6211	75	10	(	(	PUNCT
fbem-6211	75	11	04	04	NUM
fbem-6211	75	12	):	):	PUNCT
fbem-6211	75	13	20	20	NUM
fbem-6211	75	14	-	-	SYM
fbem-6211	75	15	22	22	NUM
fbem-6211	75	16	.	.	PUNCT
fbem-6211	76	1	[	[	X
fbem-6211	76	2	7	7	X
fbem-6211	76	3	]	]	X
fbem-6211	76	4	zhao	zhao	PROPN
fbem-6211	76	5	changwen	changwen	PROPN
fbem-6211	76	6	,	,	PUNCT
fbem-6211	76	7	tang	tang	PROPN
fbem-6211	76	8	yingkai	yingkai	PROPN
fbem-6211	76	9	,	,	PUNCT
fbem-6211	76	10	zhou	zhou	PROPN
fbem-6211	76	11	jing	jing	PROPN
fbem-6211	76	12	,	,	PUNCT
fbem-6211	76	13	zou	zou	PROPN
fbem-6211	76	14	hui	hui	PROPN
fbem-6211	76	15	.	.	PUNCT
fbem-6211	77	1	independent	independent	ADJ
fbem-6211	77	2	directors	director	NOUN
fbem-6211	77	3	and	and	CCONJ
fbem-6211	77	4	corporate	corporate	ADJ
fbem-6211	77	5	value	value	NOUN
fbem-6211	77	6	in	in	ADP
fbem-6211	77	7	family	family	NOUN
fbem-6211	77	8	firms	firm	NOUN
fbem-6211	77	9	:	:	PUNCT
fbem-6211	77	10	a	a	DET
fbem-6211	77	11	test	test	NOUN
fbem-6211	77	12	of	of	ADP
fbem-6211	77	13	the	the	DET
fbem-6211	77	14	rationality	rationality	NOUN
fbem-6211	77	15	of	of	ADP
fbem-6211	77	16	independent	independent	ADJ
fbem-6211	77	17	directorship	directorship	NOUN
fbem-6211	77	18	in	in	ADP
fbem-6211	77	19	chinese	chinese	ADJ
fbem-6211	77	20	listed	list	VERB
fbem-6211	77	21	companies[j	companies[j	PROPN
fbem-6211	77	22	]	]	PUNCT
fbem-6211	77	23	.	.	PUNCT
fbem-6211	78	1	management	management	NOUN
fbem-6211	78	2	world	world	NOUN
fbem-6211	78	3	,	,	PUNCT
fbem-6211	78	4	2008	2008	NUM
fbem-6211	78	5	(	(	PUNCT
fbem-6211	78	6	08	08	NUM
fbem-6211	78	7	):	):	SYM
fbem-6211	78	8	119126	119126	NUM
fbem-6211	78	9	+	+	SYM
fbem-6211	78	10	167	167	NUM
fbem-6211	78	11	.	.	PUNCT
fbem-6211	79	1	[	[	X
fbem-6211	79	2	8	8	NUM
fbem-6211	79	3	]	]	X
fbem-6211	79	4	li	li	PROPN
fbem-6211	79	5	teng	teng	PROPN
fbem-6211	79	6	,	,	PUNCT
fbem-6211	79	7	zhong	zhong	PROPN
fbem-6211	79	8	ming	ming	PROPN
fbem-6211	79	9	.	.	PUNCT
fbem-6211	80	1	research	research	NOUN
fbem-6211	80	2	on	on	ADP
fbem-6211	80	3	the	the	DET
fbem-6211	80	4	effectiveness	effectiveness	NOUN
fbem-6211	80	5	of	of	ADP
fbem-6211	80	6	the	the	DET
fbem-6211	80	7	independent	independent	ADJ
fbem-6211	80	8	directorship	directorship	NOUN
fbem-6211	80	9	system	system	NOUN
fbem-6211	80	10	of	of	ADP
fbem-6211	80	11	china	china	PROPN
fbem-6211	80	12	's	's	PART
fbem-6211	80	13	insurance	insurance	NOUN
fbem-6211	80	14	companies	company	NOUN
fbem-6211	80	15	from	from	ADP
fbem-6211	80	16	the	the	DET
fbem-6211	80	17	perspective	perspective	NOUN
fbem-6211	80	18	of	of	ADP
fbem-6211	80	19	stakeholders[j	stakeholders[j	PROPN
fbem-6211	80	20	]	]	PUNCT
fbem-6211	80	21	.	.	PUNCT
fbem-6211	81	1	insurance	insurance	NOUN
fbem-6211	81	2	research,2019,(09):60	research,2019,(09):60	PROPN
fbem-6211	81	3	-	-	PUNCT
fbem-6211	81	4	73	73	NUM
fbem-6211	81	5	.	.	PUNCT
fbem-6211	82	1	[	[	X
fbem-6211	82	2	9	9	NUM
fbem-6211	82	3	]	]	PUNCT
fbem-6211	82	4	xu	xu	PROPN
fbem-6211	82	5	yb	yb	PROPN
fbem-6211	82	6	,	,	PUNCT
fbem-6211	82	7	wan	wan	PROPN
fbem-6211	82	8	yuanxing	yuanxing	PROPN
fbem-6211	82	9	.	.	PUNCT
fbem-6211	83	1	technically	technically	ADV
fbem-6211	83	2	independent	independent	ADJ
fbem-6211	83	3	directors	director	NOUN
fbem-6211	83	4	and	and	CCONJ
fbem-6211	83	5	technological	technological	ADJ
fbem-6211	83	6	innovation	innovation	NOUN
fbem-6211	83	7	behavior	behavior	NOUN
fbem-6211	83	8	of	of	ADP
fbem-6211	83	9	family	family	NOUN
fbem-6211	83	10	firms	firm	NOUN
fbem-6211	83	11	-	-	PUNCT
fbem-6211	83	12	an	an	DET
fbem-6211	83	13	examination	examination	NOUN
fbem-6211	83	14	of	of	ADP
fbem-6211	83	15	the	the	DET
fbem-6211	83	16	effectiveness	effectiveness	NOUN
fbem-6211	83	17	of	of	ADP
fbem-6211	83	18	the	the	DET
fbem-6211	83	19	independent	independent	ADJ
fbem-6211	83	20	directorship	directorship	NOUN
fbem-6211	83	21	[	[	X
fbem-6211	83	22	j	j	X
fbem-6211	83	23	]	]	X
fbem-6211	83	24	.	.	PUNCT
fbem-6211	84	1	macroeconomic	macroeconomic	ADJ
fbem-6211	84	2	research	research	NOUN
fbem-6211	84	3	,	,	PUNCT
fbem-6211	84	4	2019,(03):110	2019,(03):110	PROPN
fbem-6211	84	5	-	-	SYM
fbem-6211	84	6	120	120	NUM
fbem-6211	84	7	.	.	PUNCT
fbem-6211	85	1	[	[	X
fbem-6211	85	2	10	10	NUM
fbem-6211	85	3	]	]	X
fbem-6211	85	4	huang	huang	PROPN
fbem-6211	85	5	jun	jun	PROPN
fbem-6211	85	6	,	,	PUNCT
fbem-6211	85	7	pan	pan	PROPN
fbem-6211	85	8	meixia	meixia	PROPN
fbem-6211	85	9	.	.	PUNCT
fbem-6211	85	10	effectiveness	effectiveness	NOUN
fbem-6211	85	11	of	of	ADP
fbem-6211	85	12	independent	independent	ADJ
fbem-6211	85	13	directorship	directorship	NOUN
fbem-6211	85	14	and	and	CCONJ
fbem-6211	85	15	connected	connected	ADJ
fbem-6211	85	16	transactions	transaction	NOUN
fbem-6211	85	17	of	of	ADP
fbem-6211	85	18	controlling	control	VERB
fbem-6211	85	19	shareholders	shareholder	NOUN
fbem-6211	85	20	:	:	PUNCT
fbem-6211	85	21	empirical	empirical	ADJ
fbem-6211	85	22	data	datum	NOUN
fbem-6211	85	23	from	from	ADP
fbem-6211	85	24	manufacturing	manufacture	VERB
fbem-6211	85	25	companies	company	NOUN
fbem-6211	85	26	listed	list	VERB
fbem-6211	85	27	on	on	ADP
fbem-6211	85	28	the	the	DET
fbem-6211	85	29	shenzhen	shenzhen	PROPN
fbem-6211	85	30	stock	stock	PROPN
fbem-6211	85	31	exchange[j	exchange[j	PROPN
fbem-6211	85	32	]	]	PUNCT
fbem-6211	85	33	.	.	PUNCT
fbem-6211	86	1	financial	financial	ADJ
fbem-6211	86	2	theory	theory	NOUN
fbem-6211	86	3	and	and	CCONJ
fbem-6211	86	4	practice	practice	NOUN
fbem-6211	86	5	,	,	PUNCT
fbem-6211	86	6	2010	2010	NUM
fbem-6211	86	7	,	,	PUNCT
fbem-6211	86	8	31(01):47	31(01):47	NUM
fbem-6211	86	9	-	-	SYM
fbem-6211	86	10	51	51	NUM
fbem-6211	86	11	.	.	PUNCT
fbem-6211	87	1	[	[	X
fbem-6211	87	2	11	11	NUM
fbem-6211	87	3	]	]	X
fbem-6211	87	4	zheng	zheng	PROPN
fbem-6211	87	5	chunmei	chunmei	PROPN
fbem-6211	87	6	,	,	PUNCT
fbem-6211	87	7	li	li	PROPN
fbem-6211	87	8	wenyao	wenyao	PROPN
fbem-6211	87	9	.	.	PUNCT
fbem-6211	88	1	an	an	DET
fbem-6211	88	2	empirical	empirical	ADJ
fbem-6211	88	3	study	study	NOUN
fbem-6211	88	4	on	on	ADP
fbem-6211	88	5	the	the	DET
fbem-6211	88	6	effectiveness	effectiveness	NOUN
fbem-6211	88	7	of	of	ADP
fbem-6211	88	8	china	china	PROPN
fbem-6211	88	9	's	's	PART
fbem-6211	88	10	independent	independent	ADJ
fbem-6211	88	11	directorship	directorship	NOUN
fbem-6211	88	12	based	base	VERB
fbem-6211	88	13	on	on	ADP
fbem-6211	88	14	accounting	accounting	NOUN
fbem-6211	88	15	regulation[j	regulation[j	PROPN
fbem-6211	88	16	]	]	PUNCT
fbem-6211	88	17	.	.	PUNCT
fbem-6211	89	1	management	management	NOUN
fbem-6211	89	2	world,2011(03):184185	world,2011(03):184185	NOUN
fbem-6211	89	3	.	.	PUNCT
fbem-6211	90	1	[	[	X
fbem-6211	90	2	12	12	NUM
fbem-6211	90	3	]	]	X
fbem-6211	90	4	deng	deng	PROPN
fbem-6211	90	5	xiaoyang	xiaoyang	PROPN
fbem-6211	90	6	,	,	PUNCT
fbem-6211	90	7	li	li	PROPN
fbem-6211	90	8	qin	qin	PROPN
fbem-6211	90	9	.	.	PUNCT
fbem-6211	90	10	research	research	NOUN
fbem-6211	90	11	on	on	ADP
fbem-6211	90	12	the	the	DET
fbem-6211	90	13	effectiveness	effectiveness	NOUN
fbem-6211	90	14	of	of	ADP
fbem-6211	90	15	independent	independent	ADJ
fbem-6211	90	16	directors	director	NOUN
fbem-6211	90	17	based	base	VERB
fbem-6211	90	18	on	on	ADP
fbem-6211	90	19	the	the	DET
fbem-6211	90	20	perspective	perspective	NOUN
fbem-6211	90	21	of	of	ADP
fbem-6211	90	22	surplus	surplus	NOUN
fbem-6211	90	23	management[j	management[j	NOUN
fbem-6211	90	24	]	]	PUNCT
fbem-6211	90	25	.	.	PUNCT
fbem-6211	91	1	financial	financial	ADJ
fbem-6211	91	2	theory	theory	NOUN
fbem-6211	91	3	and	and	CCONJ
fbem-6211	91	4	practice	practice	NOUN
fbem-6211	91	5	,	,	PUNCT
fbem-6211	91	6	2011	2011	NUM
fbem-6211	91	7	,	,	PUNCT
fbem-6211	91	8	32(01	32(01	NUM
fbem-6211	91	9	):	):	PUNCT
fbem-6211	91	10	65	65	NUM
fbem-6211	91	11	-	-	SYM
fbem-6211	91	12	68	68	NUM
fbem-6211	91	13	.	.	PUNCT
fbem-6211	92	1	[	[	X
fbem-6211	92	2	13	13	NUM
fbem-6211	92	3	]	]	X
fbem-6211	92	4	zhang	zhang	PROPN
fbem-6211	92	5	yuke	yuke	PROPN
fbem-6211	92	6	,	,	PUNCT
fbem-6211	92	7	shen	shen	PROPN
fbem-6211	92	8	fuping	fuping	PROPN
fbem-6211	92	9	.	.	PUNCT
fbem-6211	93	1	a	a	DET
fbem-6211	93	2	review	review	NOUN
fbem-6211	93	3	of	of	ADP
fbem-6211	93	4	the	the	DET
fbem-6211	93	5	effectiveness	effectiveness	NOUN
fbem-6211	93	6	of	of	ADP
fbem-6211	93	7	china	china	PROPN
fbem-6211	93	8	's	's	PART
fbem-6211	93	9	independent	independent	ADJ
fbem-6211	93	10	director	director	NOUN
fbem-6211	93	11	system	system	NOUN
fbem-6211	93	12	and	and	CCONJ
fbem-6211	93	13	its	its	PRON
fbem-6211	93	14	operation	operation	NOUN
fbem-6211	93	15	mechanism[j	mechanism[j	PROPN
fbem-6211	93	16	]	]	PUNCT
fbem-6211	93	17	.	.	PUNCT
fbem-6211	94	1	journal	journal	PROPN
fbem-6211	94	2	of	of	ADP
fbem-6211	94	3	hebei	hebei	PROPN
fbem-6211	94	4	university	university	PROPN
fbem-6211	94	5	(	(	PUNCT
fbem-6211	94	6	philosophy	philosophy	NOUN
fbem-6211	94	7	and	and	CCONJ
fbem-6211	94	8	social	social	ADJ
fbem-6211	94	9	science	science	NOUN
fbem-6211	94	10	edition	edition	NOUN
fbem-6211	94	11	)	)	PUNCT
fbem-6211	94	12	,	,	PUNCT
fbem-6211	94	13	2007(06):62	2007(06):62	NUM
fbem-6211	94	14	-	-	SYM
fbem-6211	94	15	67	67	NUM
fbem-6211	94	16	.	.	PUNCT