id	sid	tid	token	lemma	pos
fbem-875	1	1	frontiers	frontier	NOUN
fbem-875	1	2	in	in	ADP
fbem-875	1	3	business	business	NOUN
fbem-875	1	4	,	,	PUNCT
fbem-875	1	5	economics	economic	NOUN
fbem-875	1	6	and	and	CCONJ
fbem-875	1	7	management	management	NOUN
fbem-875	1	8	issn	issn	PROPN
fbem-875	1	9	:	:	PUNCT
fbem-875	1	10	2766	2766	NUM
fbem-875	1	11	-	-	PUNCT
fbem-875	1	12	824x	824x	NUM
fbem-875	1	13	|	|	ADJ
fbem-875	1	14	vol	vol	NOUN
fbem-875	1	15	.	.	PROPN
fbem-875	2	1	4	4	NUM
fbem-875	2	2	,	,	PUNCT
fbem-875	2	3	no	no	INTJ
fbem-875	2	4	.	.	NOUN
fbem-875	2	5	2	2	NUM
fbem-875	2	6	,	,	PUNCT
fbem-875	2	7	2022	2022	NUM
fbem-875	2	8	138	138	NUM
fbem-875	2	9	debt	debt	NOUN
fbem-875	2	10	financing	financing	NOUN
fbem-875	2	11	,	,	PUNCT
fbem-875	2	12	social	social	ADJ
fbem-875	2	13	responsibility	responsibility	NOUN
fbem-875	2	14	and	and	CCONJ
fbem-875	2	15	firm	firm	ADJ
fbem-875	2	16	performance	performance	NOUN
fbem-875	2	17	xian	xian	NOUN
fbem-875	2	18	dou	dou	PROPN
fbem-875	2	19	school	school	NOUN
fbem-875	2	20	of	of	ADP
fbem-875	2	21	accounting	accounting	PROPN
fbem-875	2	22	,	,	PUNCT
fbem-875	2	23	anhui	anhui	PROPN
fbem-875	2	24	university	university	PROPN
fbem-875	2	25	of	of	ADP
fbem-875	2	26	finance	finance	NOUN
fbem-875	2	27	and	and	CCONJ
fbem-875	2	28	economics	economic	NOUN
fbem-875	2	29	,	,	PUNCT
fbem-875	2	30	bengbu	bengbu	NOUN
fbem-875	2	31	233030	233030	NUM
fbem-875	2	32	,	,	PUNCT
fbem-875	2	33	china	china	PROPN
fbem-875	2	34	abstract	abstract	NOUN
fbem-875	2	35	:	:	PUNCT
fbem-875	2	36	this	this	DET
fbem-875	2	37	paper	paper	NOUN
fbem-875	2	38	selects	select	VERB
fbem-875	2	39	a	a	DET
fbem-875	2	40	-	-	PUNCT
fbem-875	2	41	share	share	NOUN
fbem-875	2	42	listed	list	VERB
fbem-875	2	43	companies	company	NOUN
fbem-875	2	44	in	in	ADP
fbem-875	2	45	shanghai	shanghai	PROPN
fbem-875	2	46	and	and	CCONJ
fbem-875	2	47	shenzhen	shenzhen	PROPN
fbem-875	2	48	from	from	ADP
fbem-875	2	49	2015	2015	NUM
fbem-875	2	50	to	to	ADP
fbem-875	2	51	2019	2019	NUM
fbem-875	2	52	as	as	ADP
fbem-875	2	53	research	research	NOUN
fbem-875	2	54	samples	sample	NOUN
fbem-875	2	55	,	,	PUNCT
fbem-875	2	56	explores	explore	VERB
fbem-875	2	57	the	the	DET
fbem-875	2	58	relationship	relationship	NOUN
fbem-875	2	59	between	between	ADP
fbem-875	2	60	debt	debt	NOUN
fbem-875	2	61	financing	financing	NOUN
fbem-875	2	62	,	,	PUNCT
fbem-875	2	63	social	social	ADJ
fbem-875	2	64	responsibility	responsibility	NOUN
fbem-875	2	65	and	and	CCONJ
fbem-875	2	66	corporate	corporate	ADJ
fbem-875	2	67	performance	performance	NOUN
fbem-875	2	68	from	from	ADP
fbem-875	2	69	two	two	NUM
fbem-875	2	70	aspects	aspect	NOUN
fbem-875	2	71	of	of	ADP
fbem-875	2	72	theoretical	theoretical	ADJ
fbem-875	2	73	analysis	analysis	NOUN
fbem-875	2	74	and	and	CCONJ
fbem-875	2	75	empirical	empirical	ADJ
fbem-875	2	76	hypothesis	hypothesis	NOUN
fbem-875	2	77	,	,	PUNCT
fbem-875	2	78	and	and	CCONJ
fbem-875	2	79	uses	use	VERB
fbem-875	2	80	empirical	empirical	ADJ
fbem-875	2	81	methods	method	NOUN
fbem-875	2	82	to	to	PART
fbem-875	2	83	verify	verify	VERB
fbem-875	2	84	the	the	DET
fbem-875	2	85	moderating	moderate	VERB
fbem-875	2	86	effect	effect	NOUN
fbem-875	2	87	of	of	ADP
fbem-875	2	88	corporate	corporate	ADJ
fbem-875	2	89	social	social	ADJ
fbem-875	2	90	responsibility	responsibility	NOUN
fbem-875	2	91	on	on	ADP
fbem-875	2	92	debt	debt	NOUN
fbem-875	2	93	financing	financing	NOUN
fbem-875	2	94	and	and	CCONJ
fbem-875	2	95	corporate	corporate	ADJ
fbem-875	2	96	performance	performance	NOUN
fbem-875	2	97	.	.	PUNCT
fbem-875	3	1	the	the	DET
fbem-875	3	2	results	result	NOUN
fbem-875	3	3	show	show	VERB
fbem-875	3	4	that	that	SCONJ
fbem-875	3	5	:	:	PUNCT
fbem-875	3	6	first	first	ADV
fbem-875	3	7	,	,	PUNCT
fbem-875	3	8	debt	debt	NOUN
fbem-875	3	9	financing	financing	NOUN
fbem-875	3	10	is	be	AUX
fbem-875	3	11	negatively	negatively	ADV
fbem-875	3	12	correlated	correlate	VERB
fbem-875	3	13	with	with	ADP
fbem-875	3	14	corporate	corporate	ADJ
fbem-875	3	15	performance	performance	NOUN
fbem-875	3	16	;	;	PUNCT
fbem-875	3	17	secondly	secondly	ADV
fbem-875	3	18	,	,	PUNCT
fbem-875	3	19	enterprises	enterprise	NOUN
fbem-875	3	20	that	that	PRON
fbem-875	3	21	actively	actively	ADV
fbem-875	3	22	undertake	undertake	VERB
fbem-875	3	23	social	social	ADJ
fbem-875	3	24	responsibility	responsibility	NOUN
fbem-875	3	25	have	have	VERB
fbem-875	3	26	lower	low	ADJ
fbem-875	3	27	debt	debt	NOUN
fbem-875	3	28	financing	financing	NOUN
fbem-875	3	29	capital	capital	NOUN
fbem-875	3	30	,	,	PUNCT
fbem-875	3	31	and	and	CCONJ
fbem-875	3	32	assume	assume	VERB
fbem-875	3	33	social	social	ADJ
fbem-875	3	34	responsibility	responsibility	NOUN
fbem-875	3	35	plays	play	VERB
fbem-875	3	36	a	a	DET
fbem-875	3	37	significant	significant	ADJ
fbem-875	3	38	moderating	moderate	VERB
fbem-875	3	39	role	role	NOUN
fbem-875	3	40	between	between	ADP
fbem-875	3	41	debt	debt	NOUN
fbem-875	3	42	financing	financing	NOUN
fbem-875	3	43	and	and	CCONJ
fbem-875	3	44	enterprise	enterprise	NOUN
fbem-875	3	45	performance	performance	NOUN
fbem-875	3	46	.	.	PUNCT
fbem-875	4	1	thirdly	thirdly	ADV
fbem-875	4	2	,	,	PUNCT
fbem-875	4	3	corporate	corporate	ADJ
fbem-875	4	4	social	social	ADJ
fbem-875	4	5	responsibility	responsibility	NOUN
fbem-875	4	6	is	be	AUX
fbem-875	4	7	negatively	negatively	ADV
fbem-875	4	8	related	relate	VERB
fbem-875	4	9	to	to	ADP
fbem-875	4	10	debt	debt	NOUN
fbem-875	4	11	financing	financing	NOUN
fbem-875	4	12	.	.	PUNCT
fbem-875	5	1	corporate	corporate	ADJ
fbem-875	5	2	active	active	ADJ
fbem-875	5	3	social	social	ADJ
fbem-875	5	4	responsibility	responsibility	NOUN
fbem-875	5	5	can	can	AUX
fbem-875	5	6	promote	promote	VERB
fbem-875	5	7	the	the	DET
fbem-875	5	8	reduction	reduction	NOUN
fbem-875	5	9	of	of	ADP
fbem-875	5	10	debt	debt	NOUN
fbem-875	5	11	ratio	ratio	NOUN
fbem-875	5	12	and	and	CCONJ
fbem-875	5	13	the	the	DET
fbem-875	5	14	improvement	improvement	NOUN
fbem-875	5	15	of	of	ADP
fbem-875	5	16	corporate	corporate	ADJ
fbem-875	5	17	performance	performance	NOUN
fbem-875	5	18	.	.	PUNCT
fbem-875	6	1	based	base	VERB
fbem-875	6	2	on	on	ADP
fbem-875	6	3	the	the	DET
fbem-875	6	4	above	above	ADJ
fbem-875	6	5	research	research	NOUN
fbem-875	6	6	results	result	NOUN
fbem-875	6	7	,	,	PUNCT
fbem-875	6	8	the	the	DET
fbem-875	6	9	following	follow	VERB
fbem-875	6	10	suggestions	suggestion	NOUN
fbem-875	6	11	are	be	AUX
fbem-875	6	12	put	put	VERB
fbem-875	6	13	forward	forward	ADV
fbem-875	6	14	:	:	PUNCT
fbem-875	6	15	first	first	ADV
fbem-875	6	16	,	,	PUNCT
fbem-875	6	17	enterprises	enterprise	NOUN
fbem-875	6	18	should	should	AUX
fbem-875	6	19	strengthen	strengthen	VERB
fbem-875	6	20	the	the	DET
fbem-875	6	21	use	use	NOUN
fbem-875	6	22	of	of	ADP
fbem-875	6	23	funds	fund	NOUN
fbem-875	6	24	and	and	CCONJ
fbem-875	6	25	actively	actively	ADV
fbem-875	6	26	assume	assume	VERB
fbem-875	6	27	social	social	ADJ
fbem-875	6	28	responsibilities	responsibility	NOUN
fbem-875	6	29	;	;	PUNCT
fbem-875	6	30	second	second	X
fbem-875	6	31	,	,	PUNCT
fbem-875	6	32	government	government	NOUN
fbem-875	6	33	departments	department	NOUN
fbem-875	6	34	should	should	AUX
fbem-875	6	35	strengthen	strengthen	VERB
fbem-875	6	36	policy	policy	NOUN
fbem-875	6	37	incentives	incentive	NOUN
fbem-875	6	38	for	for	SCONJ
fbem-875	6	39	enterprises	enterprise	NOUN
fbem-875	6	40	to	to	PART
fbem-875	6	41	bear	bear	VERB
fbem-875	6	42	social	social	ADJ
fbem-875	6	43	responsibility	responsibility	NOUN
fbem-875	6	44	;	;	PUNCT
fbem-875	6	45	third	third	X
fbem-875	6	46	,	,	PUNCT
fbem-875	6	47	government	government	NOUN
fbem-875	6	48	departments	department	NOUN
fbem-875	6	49	push	push	VERB
fbem-875	6	50	enterprises	enterprise	NOUN
fbem-875	6	51	to	to	PART
fbem-875	6	52	increase	increase	VERB
fbem-875	6	53	their	their	PRON
fbem-875	6	54	direct	direct	ADJ
fbem-875	6	55	financing	financing	NOUN
fbem-875	6	56	capacity	capacity	NOUN
fbem-875	6	57	.	.	PUNCT
fbem-875	7	1	keywords	keyword	NOUN
fbem-875	7	2	:	:	PUNCT
fbem-875	7	3	listed	list	VERB
fbem-875	7	4	company	company	NOUN
fbem-875	7	5	,	,	PUNCT
fbem-875	7	6	debt	debt	NOUN
fbem-875	7	7	financing	financing	NOUN
fbem-875	7	8	,	,	PUNCT
fbem-875	7	9	social	social	ADJ
fbem-875	7	10	responsibility	responsibility	NOUN
fbem-875	7	11	,	,	PUNCT
fbem-875	7	12	enterprise	enterprise	NOUN
fbem-875	7	13	performance	performance	NOUN
fbem-875	7	14	.	.	PUNCT
fbem-875	8	1	1	1	X
fbem-875	8	2	.	.	X
fbem-875	8	3	introduction	introduction	NOUN
fbem-875	8	4	the	the	DET
fbem-875	8	5	report	report	NOUN
fbem-875	8	6	on	on	ADP
fbem-875	8	7	the	the	DET
fbem-875	8	8	work	work	NOUN
fbem-875	8	9	of	of	ADP
fbem-875	8	10	the	the	DET
fbem-875	8	11	government	government	NOUN
fbem-875	8	12	of	of	ADP
fbem-875	8	13	the	the	DET
fbem-875	8	14	national	national	ADJ
fbem-875	8	15	two	two	NUM
fbem-875	8	16	sessions	session	NOUN
fbem-875	8	17	in	in	ADP
fbem-875	8	18	2021	2021	NUM
fbem-875	8	19	pointed	point	VERB
fbem-875	8	20	out	out	ADP
fbem-875	8	21	that	that	SCONJ
fbem-875	8	22	the	the	DET
fbem-875	8	23	covid-19	covid-19	PROPN
fbem-875	8	24	epidemic	epidemic	NOUN
fbem-875	8	25	is	be	AUX
fbem-875	8	26	still	still	ADV
fbem-875	8	27	spreading	spread	VERB
fbem-875	8	28	around	around	ADP
fbem-875	8	29	the	the	DET
fbem-875	8	30	world	world	NOUN
fbem-875	8	31	,	,	PUNCT
fbem-875	8	32	the	the	DET
fbem-875	8	33	world	world	NOUN
fbem-875	8	34	economy	economy	NOUN
fbem-875	8	35	is	be	AUX
fbem-875	8	36	facing	face	VERB
fbem-875	8	37	a	a	DET
fbem-875	8	38	more	more	ADV
fbem-875	8	39	severe	severe	ADJ
fbem-875	8	40	and	and	CCONJ
fbem-875	8	41	complex	complex	ADJ
fbem-875	8	42	situation	situation	NOUN
fbem-875	8	43	,	,	PUNCT
fbem-875	8	44	and	and	CCONJ
fbem-875	8	45	the	the	DET
fbem-875	8	46	task	task	NOUN
fbem-875	8	47	of	of	ADP
fbem-875	8	48	preventing	prevent	VERB
fbem-875	8	49	and	and	CCONJ
fbem-875	8	50	controlling	control	VERB
fbem-875	8	51	financial	financial	ADJ
fbem-875	8	52	risks	risk	NOUN
fbem-875	8	53	is	be	AUX
fbem-875	8	54	still	still	ADV
fbem-875	8	55	grim	grim	ADJ
fbem-875	8	56	.	.	PUNCT
fbem-875	9	1	we	we	PRON
fbem-875	9	2	should	should	AUX
fbem-875	9	3	continue	continue	VERB
fbem-875	9	4	to	to	PART
fbem-875	9	5	complete	complete	VERB
fbem-875	9	6	the	the	DET
fbem-875	9	7	important	important	ADJ
fbem-875	9	8	tasks	task	NOUN
fbem-875	9	9	of	of	ADP
fbem-875	9	10	"	"	PUNCT
fbem-875	9	11	three	three	NUM
fbem-875	9	12	to	to	ADP
fbem-875	9	13	one	one	NUM
fbem-875	9	14	,	,	PUNCT
fbem-875	9	15	one	one	NUM
fbem-875	9	16	to	to	ADP
fbem-875	9	17	the	the	DET
fbem-875	9	18	other	other	ADJ
fbem-875	9	19	”	"	PUNCT
fbem-875	9	20	.	.	PUNCT
fbem-875	10	1	since	since	SCONJ
fbem-875	10	2	the	the	DET
fbem-875	10	3	global	global	ADJ
fbem-875	10	4	financial	financial	ADJ
fbem-875	10	5	crisis	crisis	NOUN
fbem-875	10	6	in	in	ADP
fbem-875	10	7	2008	2008	NUM
fbem-875	10	8	,	,	PUNCT
fbem-875	10	9	in	in	ADP
fbem-875	10	10	response	response	NOUN
fbem-875	10	11	to	to	ADP
fbem-875	10	12	the	the	DET
fbem-875	10	13	global	global	ADJ
fbem-875	10	14	economic	economic	ADJ
fbem-875	10	15	downturn	downturn	NOUN
fbem-875	10	16	and	and	CCONJ
fbem-875	10	17	domestic	domestic	ADJ
fbem-875	10	18	economic	economic	ADJ
fbem-875	10	19	downturn	downturn	NOUN
fbem-875	10	20	,	,	PUNCT
fbem-875	10	21	"	"	PUNCT
fbem-875	10	22	debt	debt	NOUN
fbem-875	10	23	investment	investment	NOUN
fbem-875	10	24	"	"	PUNCT
fbem-875	10	25	proposed	propose	VERB
fbem-875	10	26	by	by	ADP
fbem-875	10	27	china	china	PROPN
fbem-875	10	28	's	's	PART
fbem-875	10	29	economic	economic	PROPN
fbem-875	10	30	development	development	NOUN
fbem-875	10	31	model	model	NOUN
fbem-875	10	32	,	,	PUNCT
fbem-875	10	33	the	the	DET
fbem-875	10	34	model	model	NOUN
fbem-875	10	35	driven	drive	VERB
fbem-875	10	36	development	development	NOUN
fbem-875	10	37	causes	cause	VERB
fbem-875	10	38	lead	lead	VERB
fbem-875	10	39	to	to	ADP
fbem-875	10	40	rising	rise	VERB
fbem-875	10	41	corporate	corporate	ADJ
fbem-875	10	42	leverage	leverage	NOUN
fbem-875	10	43	,	,	PUNCT
fbem-875	10	44	the	the	DET
fbem-875	10	45	problem	problem	NOUN
fbem-875	10	46	of	of	ADP
fbem-875	10	47	corporate	corporate	ADJ
fbem-875	10	48	leverage	leverage	NOUN
fbem-875	10	49	become	become	VERB
fbem-875	10	50	a	a	DET
fbem-875	10	51	threat	threat	NOUN
fbem-875	10	52	to	to	ADP
fbem-875	10	53	china	china	PROPN
fbem-875	10	54	's	's	PART
fbem-875	10	55	economic	economic	ADJ
fbem-875	10	56	stability	stability	NOUN
fbem-875	10	57	and	and	CCONJ
fbem-875	10	58	achieve	achieve	VERB
fbem-875	10	59	high	high	ADJ
fbem-875	10	60	quality	quality	NOUN
fbem-875	10	61	development	development	NOUN
fbem-875	10	62	of	of	ADP
fbem-875	10	63	realistic	realistic	ADJ
fbem-875	10	64	problems	problem	NOUN
fbem-875	10	65	.	.	PUNCT
fbem-875	11	1	under	under	ADP
fbem-875	11	2	the	the	DET
fbem-875	11	3	background	background	NOUN
fbem-875	11	4	of	of	ADP
fbem-875	11	5	increasing	increase	VERB
fbem-875	11	6	financial	financial	ADJ
fbem-875	11	7	risks	risk	NOUN
fbem-875	11	8	and	and	CCONJ
fbem-875	11	9	systemic	systemic	ADJ
fbem-875	11	10	risks	risk	NOUN
fbem-875	11	11	year	year	NOUN
fbem-875	11	12	by	by	ADP
fbem-875	11	13	year	year	NOUN
fbem-875	11	14	,	,	PUNCT
fbem-875	11	15	the	the	DET
fbem-875	11	16	fifth	fifth	ADJ
fbem-875	11	17	plenary	plenary	ADJ
fbem-875	11	18	session	session	NOUN
fbem-875	11	19	of	of	ADP
fbem-875	11	20	the	the	DET
fbem-875	11	21	18th	18th	ADJ
fbem-875	11	22	central	central	ADJ
fbem-875	11	23	committee	committee	NOUN
fbem-875	11	24	of	of	ADP
fbem-875	11	25	the	the	DET
fbem-875	11	26	communist	communist	PROPN
fbem-875	11	27	party	party	PROPN
fbem-875	11	28	of	of	ADP
fbem-875	11	29	china	china	PROPN
fbem-875	11	30	first	first	ADV
fbem-875	11	31	proposed	propose	VERB
fbem-875	11	32	the	the	DET
fbem-875	11	33	policy	policy	NOUN
fbem-875	11	34	of	of	ADP
fbem-875	11	35	reducing	reduce	VERB
fbem-875	11	36	the	the	DET
fbem-875	11	37	leverage	leverage	NOUN
fbem-875	11	38	ratio	ratio	NOUN
fbem-875	11	39	of	of	ADP
fbem-875	11	40	enterprises	enterprise	NOUN
fbem-875	11	41	.	.	PUNCT
fbem-875	12	1	reducing	reduce	VERB
fbem-875	12	2	the	the	DET
fbem-875	12	3	financial	financial	ADJ
fbem-875	12	4	leverage	leverage	NOUN
fbem-875	12	5	of	of	ADP
fbem-875	12	6	enterprises	enterprise	NOUN
fbem-875	12	7	is	be	AUX
fbem-875	12	8	of	of	ADP
fbem-875	12	9	great	great	ADJ
fbem-875	12	10	significance	significance	NOUN
fbem-875	12	11	to	to	PART
fbem-875	12	12	promote	promote	VERB
fbem-875	12	13	the	the	DET
fbem-875	12	14	healthy	healthy	ADJ
fbem-875	12	15	development	development	NOUN
fbem-875	12	16	of	of	ADP
fbem-875	12	17	china	china	PROPN
fbem-875	12	18	's	's	PART
fbem-875	12	19	economy	economy	NOUN
fbem-875	12	20	.	.	PUNCT
fbem-875	13	1	how	how	SCONJ
fbem-875	13	2	to	to	PART
fbem-875	13	3	deleverage	deleverage	VERB
fbem-875	13	4	and	and	CCONJ
fbem-875	13	5	stabilize	stabilize	VERB
fbem-875	13	6	risks	risk	NOUN
fbem-875	13	7	has	have	AUX
fbem-875	13	8	become	become	VERB
fbem-875	13	9	an	an	DET
fbem-875	13	10	urgent	urgent	ADJ
fbem-875	13	11	issue	issue	NOUN
fbem-875	13	12	in	in	ADP
fbem-875	13	13	the	the	DET
fbem-875	13	14	economic	economic	ADJ
fbem-875	13	15	field	field	NOUN
fbem-875	13	16	.	.	PUNCT
fbem-875	14	1	macroeconomic	macroeconomic	ADJ
fbem-875	14	2	factors	factor	NOUN
fbem-875	14	3	such	such	ADJ
fbem-875	14	4	as	as	ADP
fbem-875	14	5	economic	economic	ADJ
fbem-875	14	6	uncertainties	uncertainty	NOUN
fbem-875	14	7	,	,	PUNCT
fbem-875	14	8	financial	financial	ADJ
fbem-875	14	9	frictions	friction	NOUN
fbem-875	14	10	and	and	CCONJ
fbem-875	14	11	monetary	monetary	ADJ
fbem-875	14	12	policies	policy	NOUN
fbem-875	14	13	can	can	AUX
fbem-875	14	14	affect	affect	VERB
fbem-875	14	15	the	the	DET
fbem-875	14	16	choice	choice	NOUN
fbem-875	14	17	of	of	ADP
fbem-875	14	18	deleveraging	deleverage	VERB
fbem-875	14	19	methods	method	NOUN
fbem-875	14	20	of	of	ADP
fbem-875	14	21	enterprises	enterprise	NOUN
fbem-875	14	22	(	(	PUNCT
fbem-875	14	23	zhang	zhang	PROPN
fbem-875	14	24	yilin	yilin	PROPN
fbem-875	14	25	and	and	CCONJ
fbem-875	14	26	pu	pu	PROPN
fbem-875	14	27	ming	ming	PROPN
fbem-875	14	28	,	,	PUNCT
fbem-875	14	29	2018;jin	2018;jin	PROPN
fbem-875	14	30	penghui	penghui	NOUN
fbem-875	14	31	et	et	PROPN
fbem-875	14	32	al	al	PROPN
fbem-875	14	33	.	.	PROPN
fbem-875	14	34	,	,	PUNCT
fbem-875	14	35	2017;wang	2017;wang	NUM
fbem-875	14	36	yong	yong	PROPN
fbem-875	14	37	et	et	PROPN
fbem-875	14	38	al	al	PROPN
fbem-875	14	39	.	.	PROPN
fbem-875	14	40	,	,	PUNCT
fbem-875	14	41	2018	2018	NUM
fbem-875	14	42	)	)	PUNCT
fbem-875	14	43	,	,	PUNCT
fbem-875	14	44	the	the	DET
fbem-875	14	45	adjustment	adjustment	NOUN
fbem-875	14	46	mode	mode	NOUN
fbem-875	14	47	of	of	ADP
fbem-875	14	48	corporate	corporate	ADJ
fbem-875	14	49	capital	capital	NOUN
fbem-875	14	50	structure	structure	NOUN
fbem-875	14	51	is	be	AUX
fbem-875	14	52	also	also	ADV
fbem-875	14	53	closely	closely	ADV
fbem-875	14	54	related	relate	VERB
fbem-875	14	55	to	to	ADP
fbem-875	14	56	their	their	PRON
fbem-875	14	57	own	own	ADJ
fbem-875	14	58	development	development	NOUN
fbem-875	14	59	level	level	NOUN
fbem-875	14	60	,	,	PUNCT
fbem-875	14	61	internal	internal	ADJ
fbem-875	14	62	governance	governance	NOUN
fbem-875	14	63	level	level	NOUN
fbem-875	14	64	and	and	CCONJ
fbem-875	14	65	investors	investor	NOUN
fbem-875	14	66	as	as	ADP
fbem-875	14	67	capital	capital	NOUN
fbem-875	14	68	suppliers	supplier	NOUN
fbem-875	14	69	,	,	PUNCT
fbem-875	14	70	etc	etc	X
fbem-875	14	71	.	.	X
fbem-875	14	72	by	by	ADP
fbem-875	14	73	actively	actively	ADV
fbem-875	14	74	assuming	assume	VERB
fbem-875	14	75	social	social	ADJ
fbem-875	14	76	responsibilities	responsibility	NOUN
fbem-875	14	77	,	,	PUNCT
fbem-875	14	78	enterprises	enterprise	NOUN
fbem-875	14	79	can	can	AUX
fbem-875	14	80	adjust	adjust	VERB
fbem-875	14	81	the	the	DET
fbem-875	14	82	relationship	relationship	NOUN
fbem-875	14	83	between	between	ADP
fbem-875	14	84	them	they	PRON
fbem-875	14	85	and	and	CCONJ
fbem-875	14	86	investors	investor	NOUN
fbem-875	14	87	,	,	PUNCT
fbem-875	14	88	and	and	CCONJ
fbem-875	14	89	influence	influence	VERB
fbem-875	14	90	the	the	DET
fbem-875	14	91	adjustment	adjustment	NOUN
fbem-875	14	92	of	of	ADP
fbem-875	14	93	corporate	corporate	ADJ
fbem-875	14	94	financial	financial	ADJ
fbem-875	14	95	leverage	leverage	NOUN
fbem-875	14	96	.	.	PUNCT
fbem-875	15	1	on	on	ADP
fbem-875	15	2	the	the	DET
fbem-875	15	3	one	one	NUM
fbem-875	15	4	hand	hand	NOUN
fbem-875	15	5	,	,	PUNCT
fbem-875	15	6	enterprises	enterprise	NOUN
fbem-875	15	7	actively	actively	ADV
fbem-875	15	8	undertake	undertake	VERB
fbem-875	15	9	social	social	ADJ
fbem-875	15	10	responsibility	responsibility	NOUN
fbem-875	15	11	and	and	CCONJ
fbem-875	15	12	disclose	disclose	VERB
fbem-875	15	13	social	social	ADJ
fbem-875	15	14	responsibility	responsibility	NOUN
fbem-875	15	15	reports	report	NOUN
fbem-875	15	16	under	under	ADP
fbem-875	15	17	the	the	DET
fbem-875	15	18	promotion	promotion	NOUN
fbem-875	15	19	of	of	ADP
fbem-875	15	20	national	national	ADJ
fbem-875	15	21	policies	policy	NOUN
fbem-875	15	22	,	,	PUNCT
fbem-875	15	23	on	on	ADP
fbem-875	15	24	the	the	DET
fbem-875	15	25	one	one	NUM
fbem-875	15	26	hand	hand	NOUN
fbem-875	15	27	,	,	PUNCT
fbem-875	15	28	it	it	PRON
fbem-875	15	29	helps	help	VERB
fbem-875	15	30	to	to	PART
fbem-875	15	31	enhance	enhance	VERB
fbem-875	15	32	corporate	corporate	ADJ
fbem-875	15	33	reputation	reputation	NOUN
fbem-875	15	34	,	,	PUNCT
fbem-875	15	35	improve	improve	VERB
fbem-875	15	36	the	the	DET
fbem-875	15	37	relationship	relationship	NOUN
fbem-875	15	38	between	between	ADP
fbem-875	15	39	enterprises	enterprise	NOUN
fbem-875	15	40	and	and	CCONJ
fbem-875	15	41	investors	investor	NOUN
fbem-875	15	42	,	,	PUNCT
fbem-875	15	43	attract	attract	VERB
fbem-875	15	44	more	more	ADJ
fbem-875	15	45	investors	investor	NOUN
fbem-875	15	46	'	'	PART
fbem-875	15	47	attention	attention	NOUN
fbem-875	15	48	,	,	PUNCT
fbem-875	15	49	and	and	CCONJ
fbem-875	15	50	have	have	VERB
fbem-875	15	51	an	an	DET
fbem-875	15	52	impact	impact	NOUN
fbem-875	15	53	on	on	ADP
fbem-875	15	54	the	the	DET
fbem-875	15	55	adjustment	adjustment	NOUN
fbem-875	15	56	of	of	ADP
fbem-875	15	57	financial	financial	ADJ
fbem-875	15	58	leverage	leverage	NOUN
fbem-875	15	59	and	and	CCONJ
fbem-875	15	60	corporate	corporate	ADJ
fbem-875	15	61	performance	performance	NOUN
fbem-875	15	62	(	(	PUNCT
fbem-875	15	63	song	song	NOUN
fbem-875	15	64	lin	lin	PROPN
fbem-875	15	65	et	et	PROPN
fbem-875	15	66	al	al	PROPN
fbem-875	15	67	.	.	PROPN
fbem-875	15	68	,	,	PUNCT
fbem-875	15	69	2012;li	2012;li	NUM
fbem-875	15	70	shu	shu	NOUN
fbem-875	15	71	et	et	PROPN
fbem-875	15	72	al	al	PROPN
fbem-875	15	73	.	.	PROPN
fbem-875	15	74	,	,	PUNCT
fbem-875	15	75	2013).however	2013).however	PROPN
fbem-875	15	76	,	,	PUNCT
fbem-875	15	77	on	on	ADP
fbem-875	15	78	the	the	DET
fbem-875	15	79	other	other	ADJ
fbem-875	15	80	hand	hand	NOUN
fbem-875	15	81	,	,	PUNCT
fbem-875	15	82	enterprises	enterprise	NOUN
fbem-875	15	83	taking	take	VERB
fbem-875	15	84	on	on	ADP
fbem-875	15	85	more	more	ADJ
fbem-875	15	86	socialist	socialist	ADJ
fbem-875	15	87	responsibilities	responsibility	NOUN
fbem-875	15	88	will	will	AUX
fbem-875	15	89	increase	increase	VERB
fbem-875	15	90	their	their	PRON
fbem-875	15	91	costs	cost	NOUN
fbem-875	15	92	(	(	PUNCT
fbem-875	15	93	cespa	cespa	NOUN
fbem-875	15	94	and	and	CCONJ
fbem-875	15	95	cestone	cestone	NOUN
fbem-875	15	96	,	,	PUNCT
fbem-875	15	97	2007;quan	2007;quan	PROPN
fbem-875	15	98	xiaofeng	xiaofeng	PROPN
fbem-875	15	99	et	et	PROPN
fbem-875	15	100	al	al	PROPN
fbem-875	15	101	.	.	PROPN
fbem-875	15	102	,	,	PUNCT
fbem-875	15	103	2015	2015	NUM
fbem-875	15	104	)	)	PUNCT
fbem-875	15	105	,	,	PUNCT
fbem-875	15	106	which	which	PRON
fbem-875	15	107	leads	lead	VERB
fbem-875	15	108	to	to	ADP
fbem-875	15	109	excessive	excessive	ADJ
fbem-875	15	110	investment	investment	NOUN
fbem-875	15	111	by	by	ADP
fbem-875	15	112	enterprises	enterprise	NOUN
fbem-875	15	113	and	and	CCONJ
fbem-875	15	114	the	the	DET
fbem-875	15	115	mutual	mutual	ADJ
fbem-875	15	116	conflict	conflict	NOUN
fbem-875	15	117	between	between	ADP
fbem-875	15	118	the	the	DET
fbem-875	15	119	interests	interest	NOUN
fbem-875	15	120	of	of	ADP
fbem-875	15	121	insiders	insider	NOUN
fbem-875	15	122	and	and	CCONJ
fbem-875	15	123	investors	investor	NOUN
fbem-875	15	124	,	,	PUNCT
fbem-875	15	125	the	the	DET
fbem-875	15	126	insiders	insider	NOUN
fbem-875	15	127	will	will	AUX
fbem-875	15	128	choose	choose	VERB
fbem-875	15	129	investment	investment	NOUN
fbem-875	15	130	projects	project	NOUN
fbem-875	15	131	with	with	ADP
fbem-875	15	132	lower	low	ADJ
fbem-875	15	133	risks	risk	NOUN
fbem-875	15	134	out	out	ADP
fbem-875	15	135	of	of	ADP
fbem-875	15	136	consideration	consideration	NOUN
fbem-875	15	137	of	of	ADP
fbem-875	15	138	their	their	PRON
fbem-875	15	139	own	own	ADJ
fbem-875	15	140	rights	right	NOUN
fbem-875	15	141	and	and	CCONJ
fbem-875	15	142	interests	interest	NOUN
fbem-875	15	143	,	,	PUNCT
fbem-875	15	144	which	which	PRON
fbem-875	15	145	is	be	AUX
fbem-875	15	146	not	not	PART
fbem-875	15	147	conducive	conducive	ADJ
fbem-875	15	148	to	to	ADP
fbem-875	15	149	the	the	DET
fbem-875	15	150	adjustment	adjustment	NOUN
fbem-875	15	151	of	of	ADP
fbem-875	15	152	corporate	corporate	ADJ
fbem-875	15	153	financial	financial	ADJ
fbem-875	15	154	leverage	leverage	NOUN
fbem-875	15	155	.	.	PUNCT
fbem-875	16	1	in	in	ADP
fbem-875	16	2	the	the	DET
fbem-875	16	3	overall	overall	ADJ
fbem-875	16	4	level	level	NOUN
fbem-875	16	5	of	of	ADP
fbem-875	16	6	corporate	corporate	ADJ
fbem-875	16	7	social	social	ADJ
fbem-875	16	8	responsibility	responsibility	NOUN
fbem-875	16	9	is	be	AUX
fbem-875	16	10	not	not	PART
fbem-875	16	11	high	high	ADJ
fbem-875	16	12	,	,	PUNCT
fbem-875	16	13	the	the	DET
fbem-875	16	14	government	government	NOUN
fbem-875	16	15	actively	actively	ADV
fbem-875	16	16	promote	promote	VERB
fbem-875	16	17	the	the	DET
fbem-875	16	18	enterprise	enterprise	NOUN
fbem-875	16	19	to	to	PART
fbem-875	16	20	fulfill	fulfill	VERB
fbem-875	16	21	social	social	ADJ
fbem-875	16	22	responsibility	responsibility	NOUN
fbem-875	16	23	,	,	PUNCT
fbem-875	16	24	at	at	ADP
fbem-875	16	25	the	the	DET
fbem-875	16	26	same	same	ADJ
fbem-875	16	27	time	time	NOUN
fbem-875	16	28	,	,	PUNCT
fbem-875	16	29	enterprises	enterprise	NOUN
fbem-875	16	30	face	face	VERB
fbem-875	16	31	the	the	DET
fbem-875	16	32	market	market	NOUN
fbem-875	16	33	investment	investment	NOUN
fbem-875	16	34	atmosphere	atmosphere	NOUN
fbem-875	16	35	,	,	PUNCT
fbem-875	16	36	problems	problem	NOUN
fbem-875	16	37	such	such	ADJ
fbem-875	16	38	as	as	ADP
fbem-875	16	39	imperfect	imperfect	ADJ
fbem-875	16	40	legal	legal	ADJ
fbem-875	16	41	system	system	NOUN
fbem-875	16	42	,	,	PUNCT
fbem-875	16	43	its	its	PRON
fbem-875	16	44	social	social	ADJ
fbem-875	16	45	responsibility	responsibility	NOUN
fbem-875	16	46	motivation	motivation	NOUN
fbem-875	16	47	is	be	AUX
fbem-875	16	48	different	different	ADJ
fbem-875	16	49	from	from	ADP
fbem-875	16	50	the	the	DET
fbem-875	16	51	mature	mature	ADJ
fbem-875	16	52	capital	capital	NOUN
fbem-875	16	53	market	market	NOUN
fbem-875	16	54	,	,	PUNCT
fbem-875	16	55	is	be	AUX
fbem-875	16	56	also	also	ADV
fbem-875	16	57	the	the	DET
fbem-875	16	58	result	result	NOUN
fbem-875	16	59	of	of	ADP
fbem-875	16	60	the	the	DET
fbem-875	16	61	huge	huge	ADJ
fbem-875	16	62	difference	difference	NOUN
fbem-875	16	63	,	,	PUNCT
fbem-875	16	64	which	which	PRON
fbem-875	16	65	will	will	AUX
fbem-875	16	66	further	far	ADV
fbem-875	16	67	reflect	reflect	VERB
fbem-875	16	68	on	on	ADP
fbem-875	16	69	the	the	DET
fbem-875	16	70	enterprise	enterprise	NOUN
fbem-875	16	71	's	's	PART
fbem-875	16	72	financing	financing	NOUN
fbem-875	16	73	behavior	behavior	NOUN
fbem-875	16	74	.	.	PUNCT
fbem-875	17	1	how	how	SCONJ
fbem-875	17	2	does	do	AUX
fbem-875	17	3	corporate	corporate	ADJ
fbem-875	17	4	social	social	ADJ
fbem-875	17	5	responsibility	responsibility	NOUN
fbem-875	17	6	affect	affect	VERB
fbem-875	17	7	the	the	DET
fbem-875	17	8	change	change	NOUN
fbem-875	17	9	of	of	ADP
fbem-875	17	10	corporate	corporate	ADJ
fbem-875	17	11	financial	financial	ADJ
fbem-875	17	12	leverage	leverage	NOUN
fbem-875	17	13	?	?	PUNCT
fbem-875	18	1	is	be	AUX
fbem-875	18	2	it	it	PRON
fbem-875	18	3	an	an	DET
fbem-875	18	4	effective	effective	ADJ
fbem-875	18	5	and	and	CCONJ
fbem-875	18	6	reasonable	reasonable	ADJ
fbem-875	18	7	way	way	NOUN
fbem-875	18	8	to	to	PART
fbem-875	18	9	play	play	VERB
fbem-875	18	10	a	a	DET
fbem-875	18	11	regulating	regulate	VERB
fbem-875	18	12	role	role	NOUN
fbem-875	18	13	in	in	ADP
fbem-875	18	14	the	the	DET
fbem-875	18	15	path	path	NOUN
fbem-875	18	16	of	of	ADP
fbem-875	18	17	enterprise	enterprise	NOUN
fbem-875	18	18	leverage	leverage	NOUN
fbem-875	18	19	and	and	CCONJ
fbem-875	18	20	enterprise	enterprise	NOUN
fbem-875	18	21	performance	performance	NOUN
fbem-875	18	22	?	?	PUNCT
fbem-875	19	1	at	at	ADP
fbem-875	19	2	present	present	ADJ
fbem-875	19	3	,	,	PUNCT
fbem-875	19	4	few	few	ADJ
fbem-875	19	5	scholars	scholar	NOUN
fbem-875	19	6	have	have	AUX
fbem-875	19	7	studied	study	VERB
fbem-875	19	8	these	these	DET
fbem-875	19	9	two	two	NUM
fbem-875	19	10	issues	issue	NOUN
fbem-875	19	11	.	.	PUNCT
fbem-875	20	1	most	most	ADJ
fbem-875	20	2	existing	exist	VERB
fbem-875	20	3	literatures	literature	NOUN
fbem-875	20	4	examine	examine	VERB
fbem-875	20	5	the	the	DET
fbem-875	20	6	impact	impact	NOUN
fbem-875	20	7	of	of	ADP
fbem-875	20	8	csr	csr	X
fbem-875	20	9	on	on	ADP
fbem-875	20	10	corporate	corporate	ADJ
fbem-875	20	11	performance	performance	NOUN
fbem-875	20	12	from	from	ADP
fbem-875	20	13	the	the	DET
fbem-875	20	14	perspectives	perspective	NOUN
fbem-875	20	15	of	of	ADP
fbem-875	20	16	financing	financing	NOUN
fbem-875	20	17	constraints	constraint	NOUN
fbem-875	20	18	and	and	CCONJ
fbem-875	20	19	financing	financing	NOUN
fbem-875	20	20	costs	cost	NOUN
fbem-875	20	21	.	.	PUNCT
fbem-875	21	1	therefore	therefore	ADV
fbem-875	21	2	,	,	PUNCT
fbem-875	21	3	this	this	DET
fbem-875	21	4	paper	paper	NOUN
fbem-875	21	5	verifies	verifie	NOUN
fbem-875	21	6	the	the	DET
fbem-875	21	7	above	above	ADJ
fbem-875	21	8	issues	issue	NOUN
fbem-875	21	9	from	from	ADP
fbem-875	21	10	an	an	DET
fbem-875	21	11	empirical	empirical	ADJ
fbem-875	21	12	perspective	perspective	NOUN
fbem-875	21	13	.	.	PUNCT
fbem-875	22	1	choose	choose	VERB
fbem-875	22	2	shanghai	shanghai	PROPN
fbem-875	22	3	and	and	CCONJ
fbem-875	22	4	shenzhen	shenzhen	PROPN
fbem-875	22	5	a	a	PROPN
fbem-875	22	6	-	-	PUNCT
fbem-875	22	7	share	share	NOUN
fbem-875	22	8	listed	list	VERB
fbem-875	22	9	companies	company	NOUN
fbem-875	22	10	from	from	ADP
fbem-875	22	11	2015	2015	NUM
fbem-875	22	12	to	to	ADP
fbem-875	22	13	2019	2019	NUM
fbem-875	22	14	in	in	ADP
fbem-875	22	15	our	our	PRON
fbem-875	22	16	country	country	NOUN
fbem-875	22	17	's	's	PART
fbem-875	22	18	relevant	relevant	ADJ
fbem-875	22	19	financial	financial	ADJ
fbem-875	22	20	data	datum	NOUN
fbem-875	22	21	and	and	CCONJ
fbem-875	22	22	hexun	hexun	NOUN
fbem-875	22	23	about	about	ADP
fbem-875	22	24	social	social	ADJ
fbem-875	22	25	responsibility	responsibility	NOUN
fbem-875	22	26	score	score	NOUN
fbem-875	22	27	data	datum	NOUN
fbem-875	22	28	as	as	ADP
fbem-875	22	29	research	research	NOUN
fbem-875	22	30	samples	sample	NOUN
fbem-875	22	31	,	,	PUNCT
fbem-875	22	32	explores	explore	VERB
fbem-875	22	33	the	the	DET
fbem-875	22	34	debts	debt	NOUN
fbem-875	22	35	of	of	ADP
fbem-875	22	36	the	the	DET
fbem-875	22	37	enterprise	enterprise	NOUN
fbem-875	22	38	,	,	PUNCT
fbem-875	22	39	the	the	DET
fbem-875	22	40	relationship	relationship	NOUN
fbem-875	22	41	between	between	ADP
fbem-875	22	42	corporate	corporate	ADJ
fbem-875	22	43	social	social	ADJ
fbem-875	22	44	responsibility	responsibility	NOUN
fbem-875	22	45	and	and	CCONJ
fbem-875	22	46	corporate	corporate	ADJ
fbem-875	22	47	performance	performance	NOUN
fbem-875	22	48	,	,	PUNCT
fbem-875	22	49	and	and	CCONJ
fbem-875	22	50	from	from	ADP
fbem-875	22	51	two	two	NUM
fbem-875	22	52	angles	angle	NOUN
fbem-875	22	53	of	of	ADP
fbem-875	22	54	theory	theory	NOUN
fbem-875	22	55	and	and	CCONJ
fbem-875	22	56	empirical	empirical	ADJ
fbem-875	22	57	analysis	analysis	NOUN
fbem-875	22	58	of	of	ADP
fbem-875	22	59	enterprise	enterprise	NOUN
fbem-875	22	60	positive	positive	ADJ
fbem-875	22	61	social	social	ADJ
fbem-875	22	62	responsibility	responsibility	NOUN
fbem-875	22	63	between	between	ADP
fbem-875	22	64	debt	debt	NOUN
fbem-875	22	65	financing	financing	NOUN
fbem-875	22	66	and	and	CCONJ
fbem-875	22	67	corporate	corporate	ADJ
fbem-875	22	68	performance	performance	NOUN
fbem-875	22	69	of	of	ADP
fbem-875	22	70	adjustment	adjustment	NOUN
fbem-875	22	71	.	.	PUNCT
fbem-875	23	1	the	the	DET
fbem-875	23	2	innovations	innovation	NOUN
fbem-875	23	3	of	of	ADP
fbem-875	23	4	this	this	DET
fbem-875	23	5	paper	paper	NOUN
fbem-875	23	6	are	be	AUX
fbem-875	23	7	as	as	SCONJ
fbem-875	23	8	follows	follow	VERB
fbem-875	23	9	:	:	PUNCT
fbem-875	23	10	first	first	ADV
fbem-875	23	11	,	,	PUNCT
fbem-875	23	12	this	this	DET
fbem-875	23	13	paper	paper	NOUN
fbem-875	23	14	enriches	enrich	VERB
fbem-875	23	15	the	the	DET
fbem-875	23	16	relevant	relevant	ADJ
fbem-875	23	17	theoretical	theoretical	ADJ
fbem-875	23	18	researches	research	NOUN
fbem-875	23	19	in	in	ADP
fbem-875	23	20	this	this	DET
fbem-875	23	21	field	field	NOUN
fbem-875	23	22	139	139	NUM
fbem-875	23	23	from	from	ADP
fbem-875	23	24	the	the	DET
fbem-875	23	25	perspectives	perspective	NOUN
fbem-875	23	26	of	of	ADP
fbem-875	23	27	trade	trade	NOUN
fbem-875	23	28	-	-	PUNCT
fbem-875	23	29	off	off	ADP
fbem-875	23	30	theory	theory	NOUN
fbem-875	23	31	,	,	PUNCT
fbem-875	23	32	principal	principal	ADJ
fbem-875	23	33	-	-	PUNCT
fbem-875	23	34	agent	agent	NOUN
fbem-875	23	35	theory	theory	NOUN
fbem-875	23	36	,	,	PUNCT
fbem-875	23	37	financing	financing	NOUN
fbem-875	23	38	prioritization	prioritization	NOUN
fbem-875	23	39	theory	theory	NOUN
fbem-875	23	40	,	,	PUNCT
fbem-875	23	41	investment	investment	NOUN
fbem-875	23	42	theory	theory	NOUN
fbem-875	23	43	and	and	CCONJ
fbem-875	23	44	technology	technology	NOUN
fbem-875	23	45	innovation	innovation	NOUN
fbem-875	23	46	theory	theory	NOUN
fbem-875	23	47	.	.	PUNCT
fbem-875	24	1	second	second	ADJ
fbem-875	24	2	,	,	PUNCT
fbem-875	24	3	this	this	DET
fbem-875	24	4	paper	paper	NOUN
fbem-875	24	5	innovatively	innovatively	ADV
fbem-875	24	6	analyzes	analyze	VERB
fbem-875	24	7	the	the	DET
fbem-875	24	8	moderating	moderate	VERB
fbem-875	24	9	effect	effect	NOUN
fbem-875	24	10	of	of	ADP
fbem-875	24	11	corporate	corporate	ADJ
fbem-875	24	12	social	social	ADJ
fbem-875	24	13	responsibility	responsibility	NOUN
fbem-875	24	14	on	on	ADP
fbem-875	24	15	debt	debt	NOUN
fbem-875	24	16	financing	financing	NOUN
fbem-875	24	17	and	and	CCONJ
fbem-875	24	18	corporate	corporate	ADJ
fbem-875	24	19	performance	performance	NOUN
fbem-875	24	20	,	,	PUNCT
fbem-875	24	21	which	which	PRON
fbem-875	24	22	provides	provide	VERB
fbem-875	24	23	a	a	DET
fbem-875	24	24	new	new	ADJ
fbem-875	24	25	path	path	NOUN
fbem-875	24	26	for	for	SCONJ
fbem-875	24	27	enterprises	enterprise	NOUN
fbem-875	24	28	to	to	PART
fbem-875	24	29	reduce	reduce	VERB
fbem-875	24	30	debt	debt	NOUN
fbem-875	24	31	financing	financing	NOUN
fbem-875	24	32	and	and	CCONJ
fbem-875	24	33	improve	improve	VERB
fbem-875	24	34	corporate	corporate	ADJ
fbem-875	24	35	performance	performance	NOUN
fbem-875	24	36	.	.	PUNCT
fbem-875	25	1	third	third	ADJ
fbem-875	25	2	,	,	PUNCT
fbem-875	25	3	the	the	DET
fbem-875	25	4	research	research	NOUN
fbem-875	25	5	results	result	NOUN
fbem-875	25	6	of	of	ADP
fbem-875	25	7	this	this	DET
fbem-875	25	8	paper	paper	NOUN
fbem-875	25	9	provide	provide	VERB
fbem-875	25	10	relevant	relevant	ADJ
fbem-875	25	11	guidance	guidance	NOUN
fbem-875	25	12	for	for	ADP
fbem-875	25	13	enterprises	enterprise	NOUN
fbem-875	25	14	and	and	CCONJ
fbem-875	25	15	other	other	ADJ
fbem-875	25	16	stakeholders	stakeholder	NOUN
fbem-875	25	17	,	,	PUNCT
fbem-875	25	18	which	which	PRON
fbem-875	25	19	is	be	AUX
fbem-875	25	20	helpful	helpful	ADJ
fbem-875	25	21	for	for	ADP
fbem-875	25	22	policy	policy	NOUN
fbem-875	25	23	implementation	implementation	NOUN
fbem-875	25	24	and	and	CCONJ
fbem-875	25	25	enterprise	enterprise	NOUN
fbem-875	25	26	performance	performance	NOUN
fbem-875	25	27	improvement	improvement	NOUN
fbem-875	25	28	.	.	PUNCT
fbem-875	26	1	2	2	X
fbem-875	26	2	.	.	X
fbem-875	26	3	literature	literature	NOUN
fbem-875	26	4	review	review	PROPN
fbem-875	26	5	and	and	CCONJ
fbem-875	26	6	theoretical	theoretical	ADJ
fbem-875	26	7	hypothesis	hypothesis	NOUN
fbem-875	26	8	2.1	2.1	NUM
fbem-875	26	9	.	.	PUNCT
fbem-875	27	1	debt	debt	NOUN
fbem-875	27	2	financing	financing	NOUN
fbem-875	27	3	and	and	CCONJ
fbem-875	27	4	enterprise	enterprise	NOUN
fbem-875	27	5	performance	performance	NOUN
fbem-875	27	6	after	after	ADP
fbem-875	27	7	the	the	DET
fbem-875	27	8	financial	financial	ADJ
fbem-875	27	9	crisis	crisis	NOUN
fbem-875	27	10	in	in	ADP
fbem-875	27	11	2008	2008	NUM
fbem-875	28	1	,	,	PUNCT
fbem-875	28	2	china	china	PROPN
fbem-875	28	3	introduced	introduce	VERB
fbem-875	28	4	economic	economic	ADJ
fbem-875	28	5	stimulus	stimulus	ADJ
fbem-875	28	6	policies	policy	NOUN
fbem-875	28	7	such	such	ADJ
fbem-875	28	8	as	as	ADP
fbem-875	28	9	the	the	DET
fbem-875	28	10	"	"	PUNCT
fbem-875	28	11	four	four	NUM
fbem-875	28	12	trillion	trillion	NUM
fbem-875	28	13	plan	plan	NOUN
fbem-875	28	14	"	"	PUNCT
fbem-875	28	15	,	,	PUNCT
fbem-875	28	16	which	which	PRON
fbem-875	28	17	accelerated	accelerate	VERB
fbem-875	28	18	the	the	DET
fbem-875	28	19	increase	increase	NOUN
fbem-875	28	20	of	of	ADP
fbem-875	28	21	the	the	DET
fbem-875	28	22	leverage	leverage	NOUN
fbem-875	28	23	ratio	ratio	NOUN
fbem-875	28	24	of	of	ADP
fbem-875	28	25	nonfinancial	nonfinancial	ADJ
fbem-875	28	26	enterprises	enterprise	NOUN
fbem-875	28	27	in	in	ADP
fbem-875	28	28	china	china	PROPN
fbem-875	28	29	.	.	PUNCT
fbem-875	29	1	through	through	ADP
fbem-875	29	2	the	the	DET
fbem-875	29	3	increase	increase	NOUN
fbem-875	29	4	of	of	ADP
fbem-875	29	5	debt	debt	NOUN
fbem-875	29	6	leverage	leverage	NOUN
fbem-875	29	7	,	,	PUNCT
fbem-875	29	8	enterprises	enterprise	NOUN
fbem-875	29	9	used	use	VERB
fbem-875	29	10	the	the	DET
fbem-875	29	11	funds	fund	NOUN
fbem-875	29	12	obtained	obtain	VERB
fbem-875	29	13	from	from	ADP
fbem-875	29	14	debt	debt	NOUN
fbem-875	29	15	financing	financing	NOUN
fbem-875	29	16	to	to	PART
fbem-875	29	17	expand	expand	VERB
fbem-875	29	18	investment	investment	NOUN
fbem-875	29	19	and	and	CCONJ
fbem-875	29	20	enterprise	enterprise	NOUN
fbem-875	29	21	production	production	NOUN
fbem-875	29	22	,	,	PUNCT
fbem-875	29	23	which	which	PRON
fbem-875	29	24	played	play	VERB
fbem-875	29	25	a	a	DET
fbem-875	29	26	certain	certain	ADJ
fbem-875	29	27	role	role	NOUN
fbem-875	29	28	in	in	ADP
fbem-875	29	29	promoting	promote	VERB
fbem-875	29	30	economic	economic	ADJ
fbem-875	29	31	growth	growth	NOUN
fbem-875	29	32	.	.	PUNCT
fbem-875	30	1	enterprises	enterprise	NOUN
fbem-875	30	2	through	through	ADP
fbem-875	30	3	debt	debt	NOUN
fbem-875	30	4	financing	financing	NOUN
fbem-875	30	5	to	to	PART
fbem-875	30	6	reduce	reduce	VERB
fbem-875	30	7	agency	agency	NOUN
fbem-875	30	8	cost	cost	NOUN
fbem-875	30	9	,	,	PUNCT
fbem-875	30	10	according	accord	VERB
fbem-875	30	11	to	to	ADP
fbem-875	30	12	the	the	DET
fbem-875	30	13	free	free	ADJ
fbem-875	30	14	cash	cash	NOUN
fbem-875	30	15	flow	flow	NOUN
fbem-875	30	16	theory	theory	NOUN
fbem-875	30	17	,	,	PUNCT
fbem-875	30	18	the	the	DET
fbem-875	30	19	enterprise	enterprise	NOUN
fbem-875	30	20	loan	loan	NOUN
fbem-875	30	21	expire	expire	VERB
fbem-875	30	22	when	when	SCONJ
fbem-875	30	23	servicing	servicing	NOUN
fbem-875	30	24	pressure	pressure	NOUN
fbem-875	30	25	will	will	AUX
fbem-875	30	26	reduce	reduce	VERB
fbem-875	30	27	the	the	DET
fbem-875	30	28	waste	waste	NOUN
fbem-875	30	29	in	in	ADP
fbem-875	30	30	the	the	DET
fbem-875	30	31	process	process	NOUN
fbem-875	30	32	of	of	ADP
fbem-875	30	33	management	management	NOUN
fbem-875	30	34	in	in	ADP
fbem-875	30	35	the	the	DET
fbem-875	30	36	business	business	NOUN
fbem-875	30	37	,	,	PUNCT
fbem-875	30	38	promote	promote	VERB
fbem-875	30	39	enterprise	enterprise	NOUN
fbem-875	30	40	performance	performance	NOUN
fbem-875	30	41	improvement	improvement	NOUN
fbem-875	30	42	(	(	PUNCT
fbem-875	30	43	jenson	jenson	PROPN
fbem-875	30	44	and	and	CCONJ
fbem-875	30	45	meckling	meckling	PROPN
fbem-875	30	46	,	,	PUNCT
fbem-875	30	47	1976).when	1976).when	PROPN
fbem-875	30	48	the	the	DET
fbem-875	30	49	growth	growth	NOUN
fbem-875	30	50	rate	rate	NOUN
fbem-875	30	51	of	of	ADP
fbem-875	30	52	enterprise	enterprise	NOUN
fbem-875	30	53	output	output	NOUN
fbem-875	30	54	is	be	AUX
fbem-875	30	55	greater	great	ADJ
fbem-875	30	56	than	than	ADP
fbem-875	30	57	the	the	DET
fbem-875	30	58	growth	growth	NOUN
fbem-875	30	59	rate	rate	NOUN
fbem-875	30	60	of	of	ADP
fbem-875	30	61	debt	debt	NOUN
fbem-875	30	62	,	,	PUNCT
fbem-875	30	63	the	the	DET
fbem-875	30	64	increase	increase	NOUN
fbem-875	30	65	of	of	ADP
fbem-875	30	66	debt	debt	NOUN
fbem-875	30	67	leverage	leverage	NOUN
fbem-875	30	68	can	can	AUX
fbem-875	30	69	promote	promote	VERB
fbem-875	30	70	economic	economic	ADJ
fbem-875	30	71	growth	growth	NOUN
fbem-875	30	72	,	,	PUNCT
fbem-875	30	73	but	but	CCONJ
fbem-875	30	74	when	when	SCONJ
fbem-875	30	75	the	the	DET
fbem-875	30	76	growth	growth	NOUN
fbem-875	30	77	rate	rate	NOUN
fbem-875	30	78	of	of	ADP
fbem-875	30	79	debt	debt	NOUN
fbem-875	30	80	is	be	AUX
fbem-875	30	81	higher	high	ADJ
fbem-875	30	82	than	than	ADP
fbem-875	30	83	the	the	DET
fbem-875	30	84	growth	growth	NOUN
fbem-875	30	85	rate	rate	NOUN
fbem-875	30	86	of	of	ADP
fbem-875	30	87	enterprise	enterprise	NOUN
fbem-875	30	88	output	output	NOUN
fbem-875	30	89	,	,	PUNCT
fbem-875	30	90	the	the	DET
fbem-875	30	91	expansion	expansion	NOUN
fbem-875	30	92	of	of	ADP
fbem-875	30	93	debt	debt	NOUN
fbem-875	30	94	financing	financing	NOUN
fbem-875	30	95	will	will	AUX
fbem-875	30	96	hinder	hinder	VERB
fbem-875	30	97	economic	economic	ADJ
fbem-875	30	98	growth	growth	NOUN
fbem-875	30	99	(	(	PUNCT
fbem-875	30	100	qi	qi	NOUN
fbem-875	30	101	haodong	haodong	NOUN
fbem-875	30	102	,	,	PUNCT
fbem-875	30	103	2018	2018	NUM
fbem-875	30	104	)	)	PUNCT
fbem-875	30	105	.	.	PUNCT
fbem-875	31	1	at	at	ADP
fbem-875	31	2	present	present	ADJ
fbem-875	31	3	,	,	PUNCT
fbem-875	31	4	china	china	PROPN
fbem-875	31	5	's	's	PART
fbem-875	31	6	economic	economic	ADJ
fbem-875	31	7	development	development	NOUN
fbem-875	31	8	from	from	ADP
fbem-875	31	9	the	the	DET
fbem-875	31	10	highspeed	highspeed	NOUN
fbem-875	31	11	growth	growth	NOUN
fbem-875	31	12	stage	stage	NOUN
fbem-875	31	13	into	into	ADP
fbem-875	31	14	the	the	DET
fbem-875	31	15	medium	medium	ADJ
fbem-875	31	16	-	-	PUNCT
fbem-875	31	17	low	low	ADJ
fbem-875	31	18	growth	growth	NOUN
fbem-875	31	19	stage	stage	NOUN
fbem-875	31	20	,	,	PUNCT
fbem-875	31	21	to	to	PART
fbem-875	31	22	achieve	achieve	VERB
fbem-875	31	23	high	high	ADJ
fbem-875	31	24	-	-	PUNCT
fbem-875	31	25	quality	quality	NOUN
fbem-875	31	26	economic	economic	ADJ
fbem-875	31	27	development	development	NOUN
fbem-875	31	28	,	,	PUNCT
fbem-875	31	29	enterprises	enterprise	NOUN
fbem-875	31	30	continue	continue	VERB
fbem-875	31	31	to	to	PART
fbem-875	31	32	increase	increase	VERB
fbem-875	31	33	debt	debt	NOUN
fbem-875	31	34	financing	financing	NOUN
fbem-875	31	35	will	will	AUX
fbem-875	31	36	increase	increase	VERB
fbem-875	31	37	the	the	DET
fbem-875	31	38	risk	risk	NOUN
fbem-875	31	39	of	of	ADP
fbem-875	31	40	enterprises	enterprise	NOUN
fbem-875	31	41	.	.	PUNCT
fbem-875	32	1	according	accord	VERB
fbem-875	32	2	to	to	ADP
fbem-875	32	3	the	the	DET
fbem-875	32	4	trade	trade	NOUN
fbem-875	32	5	-	-	PUNCT
fbem-875	32	6	off	off	ADP
fbem-875	32	7	theory	theory	NOUN
fbem-875	32	8	,	,	PUNCT
fbem-875	32	9	the	the	DET
fbem-875	32	10	marginal	marginal	ADJ
fbem-875	32	11	cost	cost	NOUN
fbem-875	32	12	caused	cause	VERB
fbem-875	32	13	by	by	ADP
fbem-875	32	14	financial	financial	ADJ
fbem-875	32	15	distress	distress	NOUN
fbem-875	32	16	increases	increase	NOUN
fbem-875	32	17	with	with	ADP
fbem-875	32	18	the	the	DET
fbem-875	32	19	increase	increase	NOUN
fbem-875	32	20	of	of	ADP
fbem-875	32	21	corporate	corporate	ADJ
fbem-875	32	22	debt	debt	NOUN
fbem-875	32	23	financing	financing	NOUN
fbem-875	32	24	,	,	PUNCT
fbem-875	32	25	and	and	CCONJ
fbem-875	32	26	the	the	DET
fbem-875	32	27	revenue	revenue	NOUN
fbem-875	32	28	generated	generate	VERB
fbem-875	32	29	by	by	ADP
fbem-875	32	30	tax	tax	NOUN
fbem-875	32	31	shield	shield	NOUN
fbem-875	32	32	effect	effect	NOUN
fbem-875	32	33	also	also	ADV
fbem-875	32	34	decreases	decrease	VERB
fbem-875	32	35	.	.	PUNCT
fbem-875	33	1	higher	high	ADJ
fbem-875	33	2	debt	debt	NOUN
fbem-875	33	3	financing	financing	NOUN
fbem-875	33	4	ratio	ratio	NOUN
fbem-875	33	5	of	of	ADP
fbem-875	33	6	enterprises	enterprise	NOUN
fbem-875	33	7	will	will	AUX
fbem-875	33	8	increase	increase	VERB
fbem-875	33	9	the	the	DET
fbem-875	33	10	risk	risk	NOUN
fbem-875	33	11	of	of	ADP
fbem-875	33	12	debt	debt	NOUN
fbem-875	33	13	default	default	NOUN
fbem-875	33	14	of	of	ADP
fbem-875	33	15	enterprises	enterprise	NOUN
fbem-875	33	16	,	,	PUNCT
fbem-875	33	17	and	and	CCONJ
fbem-875	33	18	enterprise	enterprise	NOUN
fbem-875	33	19	stakeholders	stakeholder	NOUN
fbem-875	33	20	will	will	AUX
fbem-875	33	21	demand	demand	VERB
fbem-875	33	22	higher	high	ADJ
fbem-875	33	23	risk	risk	NOUN
fbem-875	33	24	compensation	compensation	NOUN
fbem-875	33	25	premium	premium	NOUN
fbem-875	33	26	,	,	PUNCT
fbem-875	33	27	increase	increase	VERB
fbem-875	33	28	the	the	DET
fbem-875	33	29	financial	financial	ADJ
fbem-875	33	30	cost	cost	NOUN
fbem-875	33	31	of	of	ADP
fbem-875	33	32	enterprises	enterprise	NOUN
fbem-875	33	33	,	,	PUNCT
fbem-875	33	34	increase	increase	VERB
fbem-875	33	35	the	the	DET
fbem-875	33	36	possibility	possibility	NOUN
fbem-875	33	37	of	of	ADP
fbem-875	33	38	enterprises	enterprise	NOUN
fbem-875	33	39	falling	fall	VERB
fbem-875	33	40	into	into	ADP
fbem-875	33	41	debt	debt	NOUN
fbem-875	33	42	difficulties	difficulty	NOUN
fbem-875	33	43	,	,	PUNCT
fbem-875	33	44	and	and	CCONJ
fbem-875	33	45	have	have	VERB
fbem-875	33	46	an	an	DET
fbem-875	33	47	adverse	adverse	ADJ
fbem-875	33	48	impact	impact	NOUN
fbem-875	33	49	on	on	ADP
fbem-875	33	50	enterprise	enterprise	NOUN
fbem-875	33	51	performance	performance	NOUN
fbem-875	33	52	.	.	PUNCT
fbem-875	34	1	reducing	reduce	VERB
fbem-875	34	2	the	the	DET
fbem-875	34	3	proportion	proportion	NOUN
fbem-875	34	4	of	of	ADP
fbem-875	34	5	debt	debt	NOUN
fbem-875	34	6	financing	financing	NOUN
fbem-875	34	7	can	can	AUX
fbem-875	34	8	reduce	reduce	VERB
fbem-875	34	9	the	the	DET
fbem-875	34	10	risk	risk	NOUN
fbem-875	34	11	of	of	ADP
fbem-875	34	12	debt	debt	NOUN
fbem-875	34	13	default	default	NOUN
fbem-875	34	14	caused	cause	VERB
fbem-875	34	15	by	by	ADP
fbem-875	34	16	excessive	excessive	ADJ
fbem-875	34	17	debt	debt	NOUN
fbem-875	34	18	,	,	PUNCT
fbem-875	34	19	reduce	reduce	VERB
fbem-875	34	20	the	the	DET
fbem-875	34	21	financial	financial	ADJ
fbem-875	34	22	cost	cost	NOUN
fbem-875	34	23	and	and	CCONJ
fbem-875	34	24	improve	improve	VERB
fbem-875	34	25	the	the	DET
fbem-875	34	26	profitability	profitability	NOUN
fbem-875	34	27	of	of	ADP
fbem-875	34	28	enterprises	enterprise	NOUN
fbem-875	34	29	.	.	PUNCT
fbem-875	35	1	according	accord	VERB
fbem-875	35	2	to	to	ADP
fbem-875	35	3	the	the	DET
fbem-875	35	4	agency	agency	NOUN
fbem-875	35	5	theory	theory	NOUN
fbem-875	35	6	,	,	PUNCT
fbem-875	35	7	excessive	excessive	ADJ
fbem-875	35	8	debt	debt	NOUN
fbem-875	35	9	financing	financing	NOUN
fbem-875	35	10	harms	harm	VERB
fbem-875	35	11	the	the	DET
fbem-875	35	12	interests	interest	NOUN
fbem-875	35	13	of	of	ADP
fbem-875	35	14	creditors	creditor	NOUN
fbem-875	35	15	,	,	PUNCT
fbem-875	35	16	and	and	CCONJ
fbem-875	35	17	a	a	DET
fbem-875	35	18	higher	high	ADJ
fbem-875	35	19	assetliability	assetliability	NOUN
fbem-875	35	20	ratio	ratio	NOUN
fbem-875	35	21	increases	increase	VERB
fbem-875	35	22	the	the	DET
fbem-875	35	23	risk	risk	NOUN
fbem-875	35	24	of	of	ADP
fbem-875	35	25	insolvency	insolvency	NOUN
fbem-875	35	26	.	.	PUNCT
fbem-875	36	1	when	when	SCONJ
fbem-875	36	2	making	make	VERB
fbem-875	36	3	project	project	NOUN
fbem-875	36	4	investment	investment	NOUN
fbem-875	36	5	,	,	PUNCT
fbem-875	36	6	managers	manager	NOUN
fbem-875	36	7	are	be	AUX
fbem-875	36	8	more	more	ADV
fbem-875	36	9	inclined	inclined	ADJ
fbem-875	36	10	to	to	PART
fbem-875	36	11	choose	choose	VERB
fbem-875	36	12	high	high	ADJ
fbem-875	36	13	-	-	PUNCT
fbem-875	36	14	risk	risk	NOUN
fbem-875	36	15	projects	project	NOUN
fbem-875	36	16	.	.	PUNCT
fbem-875	37	1	the	the	DET
fbem-875	37	2	high	high	ADJ
fbem-875	37	3	returns	return	NOUN
fbem-875	37	4	generated	generate	VERB
fbem-875	37	5	by	by	ADP
fbem-875	37	6	successful	successful	ADJ
fbem-875	37	7	project	project	NOUN
fbem-875	37	8	investment	investment	NOUN
fbem-875	37	9	can	can	AUX
fbem-875	37	10	increase	increase	VERB
fbem-875	37	11	the	the	DET
fbem-875	37	12	wealth	wealth	NOUN
fbem-875	37	13	of	of	ADP
fbem-875	37	14	shareholders	shareholder	NOUN
fbem-875	37	15	,	,	PUNCT
fbem-875	37	16	while	while	SCONJ
fbem-875	37	17	the	the	DET
fbem-875	37	18	creditors	creditor	NOUN
fbem-875	37	19	will	will	AUX
fbem-875	37	20	bear	bear	VERB
fbem-875	37	21	the	the	DET
fbem-875	37	22	corresponding	corresponding	ADJ
fbem-875	37	23	losses	loss	NOUN
fbem-875	37	24	if	if	SCONJ
fbem-875	37	25	the	the	DET
fbem-875	37	26	project	project	NOUN
fbem-875	37	27	investment	investment	NOUN
fbem-875	37	28	fails.when	fails.when	VERB
fbem-875	37	29	the	the	DET
fbem-875	37	30	net	net	ADJ
fbem-875	37	31	present	present	ADJ
fbem-875	37	32	value	value	NOUN
fbem-875	37	33	of	of	ADP
fbem-875	37	34	income	income	NOUN
fbem-875	37	35	generated	generate	VERB
fbem-875	37	36	by	by	ADP
fbem-875	37	37	an	an	DET
fbem-875	37	38	investment	investment	NOUN
fbem-875	37	39	project	project	NOUN
fbem-875	37	40	is	be	AUX
fbem-875	37	41	only	only	ADV
fbem-875	37	42	for	for	ADP
fbem-875	37	43	creditors	creditor	NOUN
fbem-875	37	44	,	,	PUNCT
fbem-875	37	45	managers	manager	NOUN
fbem-875	37	46	often	often	ADV
fbem-875	37	47	give	give	VERB
fbem-875	37	48	up	up	ADP
fbem-875	37	49	the	the	DET
fbem-875	37	50	project	project	NOUN
fbem-875	37	51	,	,	PUNCT
fbem-875	37	52	which	which	PRON
fbem-875	37	53	has	have	VERB
fbem-875	37	54	a	a	DET
fbem-875	37	55	negative	negative	ADJ
fbem-875	37	56	impact	impact	NOUN
fbem-875	37	57	on	on	ADP
fbem-875	37	58	the	the	DET
fbem-875	37	59	long	long	ADJ
fbem-875	37	60	-	-	PUNCT
fbem-875	37	61	term	term	NOUN
fbem-875	37	62	development	development	NOUN
fbem-875	37	63	of	of	ADP
fbem-875	37	64	the	the	DET
fbem-875	37	65	enterprise	enterprise	NOUN
fbem-875	37	66	(	(	PUNCT
fbem-875	37	67	parrinor	parrinor	NOUN
fbem-875	37	68	and	and	CCONJ
fbem-875	37	69	weisbachms	weisbachm	NOUN
fbem-875	37	70	,	,	PUNCT
fbem-875	37	71	1999).according	1999).accorde	VERB
fbem-875	37	72	to	to	ADP
fbem-875	37	73	investment	investment	NOUN
fbem-875	37	74	theory	theory	NOUN
fbem-875	37	75	and	and	CCONJ
fbem-875	37	76	technological	technological	ADJ
fbem-875	37	77	innovation	innovation	NOUN
fbem-875	37	78	theory	theory	NOUN
fbem-875	37	79	,	,	PUNCT
fbem-875	37	80	the	the	PRON
fbem-875	37	81	higher	high	ADJ
fbem-875	37	82	the	the	DET
fbem-875	37	83	proportion	proportion	NOUN
fbem-875	37	84	of	of	ADP
fbem-875	37	85	corporate	corporate	ADJ
fbem-875	37	86	debt	debt	NOUN
fbem-875	37	87	financing	financing	NOUN
fbem-875	37	88	is	be	AUX
fbem-875	37	89	,	,	PUNCT
fbem-875	37	90	the	the	PRON
fbem-875	37	91	lower	low	ADJ
fbem-875	37	92	the	the	DET
fbem-875	37	93	investment	investment	NOUN
fbem-875	37	94	efficiency	efficiency	NOUN
fbem-875	37	95	will	will	AUX
fbem-875	37	96	be	be	AUX
fbem-875	37	97	,	,	PUNCT
fbem-875	37	98	and	and	CCONJ
fbem-875	37	99	the	the	DET
fbem-875	37	100	innovation	innovation	NOUN
fbem-875	37	101	input	input	NOUN
fbem-875	37	102	will	will	AUX
fbem-875	37	103	be	be	AUX
fbem-875	37	104	inhibited	inhibit	VERB
fbem-875	37	105	and	and	CCONJ
fbem-875	37	106	the	the	DET
fbem-875	37	107	interests	interest	NOUN
fbem-875	37	108	of	of	ADP
fbem-875	37	109	enterprises	enterprise	NOUN
fbem-875	37	110	will	will	AUX
fbem-875	37	111	be	be	AUX
fbem-875	37	112	damaged	damage	VERB
fbem-875	37	113	.	.	PUNCT
fbem-875	38	1	the	the	PRON
fbem-875	38	2	higher	high	ADJ
fbem-875	38	3	the	the	DET
fbem-875	38	4	leverage	leverage	NOUN
fbem-875	38	5	ratio	ratio	NOUN
fbem-875	38	6	,	,	PUNCT
fbem-875	38	7	the	the	PRON
fbem-875	38	8	greater	great	ADJ
fbem-875	38	9	the	the	DET
fbem-875	38	10	damage	damage	NOUN
fbem-875	38	11	to	to	ADP
fbem-875	38	12	enterprises	enterprise	NOUN
fbem-875	38	13	.	.	PUNCT
fbem-875	39	1	therefore	therefore	ADV
fbem-875	39	2	,	,	PUNCT
fbem-875	39	3	the	the	DET
fbem-875	39	4	deleveraging	deleverage	VERB
fbem-875	39	5	policy	policy	NOUN
fbem-875	39	6	has	have	VERB
fbem-875	39	7	a	a	DET
fbem-875	39	8	more	more	ADV
fbem-875	39	9	significant	significant	ADJ
fbem-875	39	10	effect	effect	NOUN
fbem-875	39	11	on	on	ADP
fbem-875	39	12	improving	improve	VERB
fbem-875	39	13	the	the	DET
fbem-875	39	14	performance	performance	NOUN
fbem-875	39	15	of	of	ADP
fbem-875	39	16	highly	highly	ADV
fbem-875	39	17	indebted	indebted	ADJ
fbem-875	39	18	enterprises	enterprise	NOUN
fbem-875	39	19	.	.	PUNCT
fbem-875	40	1	reducing	reduce	VERB
fbem-875	40	2	the	the	DET
fbem-875	40	3	proportion	proportion	NOUN
fbem-875	40	4	of	of	ADP
fbem-875	40	5	debt	debt	NOUN
fbem-875	40	6	financing	financing	NOUN
fbem-875	40	7	is	be	AUX
fbem-875	40	8	conducive	conducive	ADJ
fbem-875	40	9	to	to	ADP
fbem-875	40	10	improving	improve	VERB
fbem-875	40	11	the	the	DET
fbem-875	40	12	efficiency	efficiency	NOUN
fbem-875	40	13	of	of	ADP
fbem-875	40	14	capital	capital	NOUN
fbem-875	40	15	use	use	NOUN
fbem-875	40	16	,	,	PUNCT
fbem-875	40	17	promoting	promote	VERB
fbem-875	40	18	industrial	industrial	ADJ
fbem-875	40	19	upgrading	upgrading	NOUN
fbem-875	40	20	and	and	CCONJ
fbem-875	40	21	improving	improve	VERB
fbem-875	40	22	corporate	corporate	ADJ
fbem-875	40	23	performance	performance	NOUN
fbem-875	40	24	.	.	PUNCT
fbem-875	41	1	tax	tax	NOUN
fbem-875	41	2	law	law	NOUN
fbem-875	41	3	requires	require	VERB
fbem-875	41	4	pretax	pretax	ADJ
fbem-875	41	5	deduction	deduction	NOUN
fbem-875	41	6	of	of	ADP
fbem-875	41	7	corporate	corporate	ADJ
fbem-875	41	8	debt	debt	NOUN
fbem-875	41	9	interest	interest	NOUN
fbem-875	41	10	,	,	PUNCT
fbem-875	41	11	which	which	PRON
fbem-875	41	12	reduces	reduce	VERB
fbem-875	41	13	corporate	corporate	ADJ
fbem-875	41	14	debt	debt	NOUN
fbem-875	41	15	financing	financing	NOUN
fbem-875	41	16	cost	cost	NOUN
fbem-875	41	17	to	to	ADP
fbem-875	41	18	a	a	DET
fbem-875	41	19	certain	certain	ADJ
fbem-875	41	20	extent	extent	NOUN
fbem-875	41	21	and	and	CCONJ
fbem-875	41	22	enhances	enhance	VERB
fbem-875	41	23	corporate	corporate	ADJ
fbem-875	41	24	debt	debt	NOUN
fbem-875	41	25	financing	financing	NOUN
fbem-875	41	26	willingness	willingness	NOUN
fbem-875	41	27	.	.	PUNCT
fbem-875	42	1	as	as	ADP
fbem-875	42	2	a	a	DET
fbem-875	42	3	result	result	NOUN
fbem-875	42	4	,	,	PUNCT
fbem-875	42	5	the	the	DET
fbem-875	42	6	use	use	NOUN
fbem-875	42	7	efficiency	efficiency	NOUN
fbem-875	42	8	of	of	ADP
fbem-875	42	9	funds	fund	NOUN
fbem-875	42	10	obtained	obtain	VERB
fbem-875	42	11	from	from	ADP
fbem-875	42	12	debt	debt	NOUN
fbem-875	42	13	financing	financing	NOUN
fbem-875	42	14	decreases	decrease	NOUN
fbem-875	42	15	.	.	PUNCT
fbem-875	43	1	under	under	ADP
fbem-875	43	2	the	the	DET
fbem-875	43	3	policy	policy	NOUN
fbem-875	43	4	of	of	ADP
fbem-875	43	5	deleveraging	deleveraging	NOUN
fbem-875	43	6	,	,	PUNCT
fbem-875	43	7	it	it	PRON
fbem-875	43	8	becomes	become	VERB
fbem-875	43	9	more	more	ADV
fbem-875	43	10	difficult	difficult	ADJ
fbem-875	43	11	for	for	SCONJ
fbem-875	43	12	enterprises	enterprise	NOUN
fbem-875	43	13	to	to	PART
fbem-875	43	14	obtain	obtain	VERB
fbem-875	43	15	funds	fund	NOUN
fbem-875	43	16	through	through	ADP
fbem-875	43	17	debt	debt	NOUN
fbem-875	43	18	and	and	CCONJ
fbem-875	43	19	the	the	DET
fbem-875	43	20	scarcity	scarcity	NOUN
fbem-875	43	21	of	of	ADP
fbem-875	43	22	debt	debt	NOUN
fbem-875	43	23	funds	fund	NOUN
fbem-875	43	24	increases	increase	NOUN
fbem-875	43	25	.	.	PUNCT
fbem-875	44	1	encourage	encourage	VERB
fbem-875	44	2	enterprises	enterprise	NOUN
fbem-875	44	3	to	to	PART
fbem-875	44	4	improve	improve	VERB
fbem-875	44	5	the	the	DET
fbem-875	44	6	efficiency	efficiency	NOUN
fbem-875	44	7	of	of	ADP
fbem-875	44	8	capital	capital	NOUN
fbem-875	44	9	use	use	NOUN
fbem-875	44	10	and	and	CCONJ
fbem-875	44	11	return	return	VERB
fbem-875	44	12	on	on	ADP
fbem-875	44	13	investment	investment	NOUN
fbem-875	44	14	(	(	PUNCT
fbem-875	44	15	ma	ma	PROPN
fbem-875	44	16	hong	hong	PROPN
fbem-875	44	17	and	and	CCONJ
fbem-875	44	18	wang	wang	PROPN
fbem-875	44	19	yuanyue	yuanyue	PROPN
fbem-875	44	20	,	,	PUNCT
fbem-875	44	21	2017).in	2017).in	NUM
fbem-875	44	22	addition	addition	NOUN
fbem-875	44	23	,	,	PUNCT
fbem-875	44	24	the	the	DET
fbem-875	44	25	scarcity	scarcity	NOUN
fbem-875	44	26	of	of	ADP
fbem-875	44	27	internal	internal	ADJ
fbem-875	44	28	funds	fund	NOUN
fbem-875	44	29	in	in	ADP
fbem-875	44	30	enterprises	enterprise	NOUN
fbem-875	44	31	enhances	enhance	VERB
fbem-875	44	32	the	the	DET
fbem-875	44	33	prudence	prudence	NOUN
fbem-875	44	34	of	of	ADP
fbem-875	44	35	managers	manager	NOUN
fbem-875	44	36	in	in	ADP
fbem-875	44	37	project	project	NOUN
fbem-875	44	38	investment	investment	NOUN
fbem-875	44	39	,	,	PUNCT
fbem-875	44	40	avoids	avoid	VERB
fbem-875	44	41	blind	blind	ADJ
fbem-875	44	42	expansion	expansion	NOUN
fbem-875	44	43	,	,	PUNCT
fbem-875	44	44	makes	make	VERB
fbem-875	44	45	rational	rational	ADJ
fbem-875	44	46	use	use	NOUN
fbem-875	44	47	of	of	ADP
fbem-875	44	48	enterprise	enterprise	NOUN
fbem-875	44	49	resources	resource	NOUN
fbem-875	44	50	,	,	PUNCT
fbem-875	44	51	improves	improve	VERB
fbem-875	44	52	enterprise	enterprise	NOUN
fbem-875	44	53	factor	factor	NOUN
fbem-875	44	54	productivity	productivity	NOUN
fbem-875	44	55	,	,	PUNCT
fbem-875	44	56	and	and	CCONJ
fbem-875	44	57	is	be	AUX
fbem-875	44	58	conducive	conducive	ADJ
fbem-875	44	59	to	to	ADP
fbem-875	44	60	enterprise	enterprise	NOUN
fbem-875	44	61	transformation	transformation	NOUN
fbem-875	44	62	and	and	CCONJ
fbem-875	44	63	upgrading	upgrading	NOUN
fbem-875	44	64	(	(	PUNCT
fbem-875	44	65	xu	xu	PROPN
fbem-875	44	66	pengjie	pengjie	PROPN
fbem-875	44	67	and	and	CCONJ
fbem-875	44	68	ma	ma	PROPN
fbem-875	44	69	zhongdong	zhongdong	PROPN
fbem-875	44	70	et	et	PROPN
fbem-875	44	71	al	al	PROPN
fbem-875	44	72	.	.	PROPN
fbem-875	44	73	,	,	PUNCT
fbem-875	44	74	2019).therefore	2019).therefore	NUM
fbem-875	44	75	,	,	PUNCT
fbem-875	44	76	reducing	reduce	VERB
fbem-875	44	77	the	the	DET
fbem-875	44	78	proportion	proportion	NOUN
fbem-875	44	79	of	of	ADP
fbem-875	44	80	debt	debt	NOUN
fbem-875	44	81	financing	financing	NOUN
fbem-875	44	82	can	can	AUX
fbem-875	44	83	significantly	significantly	ADV
fbem-875	44	84	improve	improve	VERB
fbem-875	44	85	corporate	corporate	ADJ
fbem-875	44	86	performance	performance	NOUN
fbem-875	44	87	.	.	PUNCT
fbem-875	45	1	based	base	VERB
fbem-875	45	2	on	on	ADP
fbem-875	45	3	the	the	DET
fbem-875	45	4	above	above	ADJ
fbem-875	45	5	analysis	analysis	NOUN
fbem-875	45	6	,	,	PUNCT
fbem-875	45	7	this	this	DET
fbem-875	45	8	paper	paper	NOUN
fbem-875	45	9	proposes	propose	VERB
fbem-875	45	10	h1	h1	NOUN
fbem-875	45	11	:	:	PUNCT
fbem-875	45	12	h1	h1	VERB
fbem-875	45	13	:	:	PUNCT
fbem-875	45	14	there	there	PRON
fbem-875	45	15	is	be	VERB
fbem-875	45	16	a	a	DET
fbem-875	45	17	significant	significant	ADJ
fbem-875	45	18	negative	negative	ADJ
fbem-875	45	19	correlation	correlation	NOUN
fbem-875	45	20	between	between	ADP
fbem-875	45	21	corporate	corporate	ADJ
fbem-875	45	22	debt	debt	NOUN
fbem-875	45	23	financing	financing	NOUN
fbem-875	45	24	and	and	CCONJ
fbem-875	45	25	corporate	corporate	ADJ
fbem-875	45	26	performance	performance	NOUN
fbem-875	45	27	,	,	PUNCT
fbem-875	45	28	and	and	CCONJ
fbem-875	45	29	a	a	DET
fbem-875	45	30	high	high	ADJ
fbem-875	45	31	proportion	proportion	NOUN
fbem-875	45	32	of	of	ADP
fbem-875	45	33	corporate	corporate	ADJ
fbem-875	45	34	debt	debt	NOUN
fbem-875	45	35	financing	financing	NOUN
fbem-875	45	36	will	will	AUX
fbem-875	45	37	bring	bring	VERB
fbem-875	45	38	adverse	adverse	ADJ
fbem-875	45	39	impact	impact	NOUN
fbem-875	45	40	on	on	ADP
fbem-875	45	41	the	the	DET
fbem-875	45	42	improvement	improvement	NOUN
fbem-875	45	43	of	of	ADP
fbem-875	45	44	corporate	corporate	ADJ
fbem-875	45	45	performance	performance	NOUN
fbem-875	45	46	.	.	PUNCT
fbem-875	46	1	2.2	2.2	NUM
fbem-875	46	2	.	.	PUNCT
fbem-875	47	1	corporate	corporate	ADJ
fbem-875	47	2	social	social	ADJ
fbem-875	47	3	responsibility	responsibility	NOUN
fbem-875	47	4	and	and	CCONJ
fbem-875	47	5	debt	debt	NOUN
fbem-875	47	6	financing	finance	VERB
fbem-875	47	7	shareholders	shareholder	NOUN
fbem-875	47	8	'	'	PART
fbem-875	47	9	investment	investment	NOUN
fbem-875	47	10	and	and	CCONJ
fbem-875	47	11	creditors	creditor	NOUN
fbem-875	47	12	'	'	PART
fbem-875	47	13	borrowing	borrowing	NOUN
fbem-875	47	14	are	be	AUX
fbem-875	47	15	the	the	DET
fbem-875	47	16	main	main	ADJ
fbem-875	47	17	channels	channel	NOUN
fbem-875	47	18	for	for	ADP
fbem-875	47	19	enterprises	enterprise	NOUN
fbem-875	47	20	to	to	PART
fbem-875	47	21	raise	raise	VERB
fbem-875	47	22	funds	fund	NOUN
fbem-875	47	23	.	.	PUNCT
fbem-875	48	1	both	both	DET
fbem-875	48	2	creditors	creditor	NOUN
fbem-875	48	3	and	and	CCONJ
fbem-875	48	4	shareholders	shareholder	NOUN
fbem-875	48	5	have	have	VERB
fbem-875	48	6	the	the	DET
fbem-875	48	7	motivation	motivation	NOUN
fbem-875	48	8	to	to	PART
fbem-875	48	9	resist	resist	VERB
fbem-875	48	10	enterprises	enterprise	NOUN
fbem-875	48	11	taking	take	VERB
fbem-875	48	12	social	social	ADJ
fbem-875	48	13	responsibility	responsibility	NOUN
fbem-875	48	14	.	.	PUNCT
fbem-875	49	1	corporate	corporate	ADJ
fbem-875	49	2	social	social	ADJ
fbem-875	49	3	responsibility	responsibility	NOUN
fbem-875	49	4	will	will	AUX
fbem-875	49	5	exert	exert	VERB
fbem-875	49	6	certain	certain	ADJ
fbem-875	49	7	constraints	constraint	NOUN
fbem-875	49	8	on	on	ADP
fbem-875	49	9	corporate	corporate	ADJ
fbem-875	49	10	financing	financing	NOUN
fbem-875	49	11	behavior	behavior	NOUN
fbem-875	49	12	,	,	PUNCT
fbem-875	49	13	and	and	CCONJ
fbem-875	49	14	enterprises	enterprise	NOUN
fbem-875	49	15	have	have	VERB
fbem-875	49	16	certain	certain	ADJ
fbem-875	49	17	pursuit	pursuit	NOUN
fbem-875	49	18	for	for	ADP
fbem-875	49	19	environmental	environmental	ADJ
fbem-875	49	20	protection	protection	NOUN
fbem-875	49	21	value	value	NOUN
fbem-875	49	22	and	and	CCONJ
fbem-875	49	23	other	other	ADJ
fbem-875	49	24	contents	content	NOUN
fbem-875	49	25	of	of	ADP
fbem-875	49	26	social	social	ADJ
fbem-875	49	27	responsibility	responsibility	NOUN
fbem-875	49	28	,	,	PUNCT
fbem-875	49	29	which	which	PRON
fbem-875	49	30	may	may	AUX
fbem-875	49	31	encourage	encourage	VERB
fbem-875	49	32	enterprises	enterprise	NOUN
fbem-875	49	33	to	to	PART
fbem-875	49	34	invest	invest	VERB
fbem-875	49	35	in	in	ADP
fbem-875	49	36	other	other	ADJ
fbem-875	49	37	enterprises	enterprise	NOUN
fbem-875	49	38	.	.	PUNCT
fbem-875	50	1	therefore	therefore	ADV
fbem-875	50	2	,	,	PUNCT
fbem-875	50	3	we	we	PRON
fbem-875	50	4	need	need	VERB
fbem-875	50	5	to	to	PART
fbem-875	50	6	treat	treat	VERB
fbem-875	50	7	the	the	DET
fbem-875	50	8	role	role	NOUN
fbem-875	50	9	of	of	ADP
fbem-875	50	10	corporate	corporate	ADJ
fbem-875	50	11	social	social	ADJ
fbem-875	50	12	responsibility	responsibility	NOUN
fbem-875	50	13	in	in	ADP
fbem-875	50	14	corporate	corporate	ADJ
fbem-875	50	15	financing	financing	NOUN
fbem-875	50	16	dialectically	dialectically	ADV
fbem-875	50	17	(	(	PUNCT
fbem-875	50	18	wang	wang	PROPN
fbem-875	50	19	xiaohua	xiaohua	PROPN
fbem-875	50	20	,	,	PUNCT
fbem-875	50	21	2009	2009	NUM
fbem-875	50	22	)	)	PUNCT
fbem-875	50	23	.	.	PUNCT
fbem-875	51	1	academia	academia	PROPN
fbem-875	51	2	also	also	ADV
fbem-875	51	3	has	have	VERB
fbem-875	51	4	a	a	DET
fbem-875	51	5	more	more	ADV
fbem-875	51	6	direct	direct	ADJ
fbem-875	51	7	point	point	NOUN
fbem-875	51	8	of	of	ADP
fbem-875	51	9	view	view	NOUN
fbem-875	51	10	that	that	SCONJ
fbem-875	51	11	corporate	corporate	ADJ
fbem-875	51	12	social	social	ADJ
fbem-875	51	13	responsibility	responsibility	NOUN
fbem-875	51	14	has	have	AUX
fbem-875	51	15	a	a	DET
fbem-875	51	16	certain	certain	ADJ
fbem-875	51	17	negative	negative	ADJ
fbem-875	51	18	impact	impact	NOUN
fbem-875	51	19	on	on	ADP
fbem-875	51	20	corporate	corporate	ADJ
fbem-875	51	21	financing	financing	NOUN
fbem-875	51	22	ability	ability	NOUN
fbem-875	51	23	.	.	PUNCT
fbem-875	52	1	as	as	ADP
fbem-875	52	2	an	an	DET
fbem-875	52	3	important	important	ADJ
fbem-875	52	4	part	part	NOUN
fbem-875	52	5	of	of	ADP
fbem-875	52	6	corporate	corporate	ADJ
fbem-875	52	7	social	social	ADJ
fbem-875	52	8	responsibility	responsibility	NOUN
fbem-875	52	9	,	,	PUNCT
fbem-875	52	10	enterprises	enterprise	NOUN
fbem-875	52	11	that	that	PRON
fbem-875	52	12	pay	pay	VERB
fbem-875	52	13	attention	attention	NOUN
fbem-875	52	14	to	to	ADP
fbem-875	52	15	employee	employee	NOUN
fbem-875	52	16	welfare	welfare	NOUN
fbem-875	52	17	tend	tend	VERB
fbem-875	52	18	to	to	PART
fbem-875	52	19	be	be	AUX
fbem-875	52	20	more	more	ADJ
fbem-875	52	21	risk	risk	NOUN
fbem-875	52	22	-	-	PUNCT
fbem-875	52	23	averse	averse	ADJ
fbem-875	52	24	,	,	PUNCT
fbem-875	52	25	and	and	CCONJ
fbem-875	52	26	the	the	DET
fbem-875	52	27	risk	risk	NOUN
fbem-875	52	28	awareness	awareness	NOUN
fbem-875	52	29	of	of	ADP
fbem-875	52	30	enterprises	enterprise	NOUN
fbem-875	52	31	will	will	AUX
fbem-875	52	32	affect	affect	VERB
fbem-875	52	33	the	the	DET
fbem-875	52	34	attitude	attitude	NOUN
fbem-875	52	35	of	of	ADP
fbem-875	52	36	enterprise	enterprise	NOUN
fbem-875	52	37	stakeholders	stakeholder	NOUN
fbem-875	52	38	towards	towards	ADP
fbem-875	52	39	corporate	corporate	ADJ
fbem-875	52	40	financing	financing	NOUN
fbem-875	52	41	.	.	PUNCT
fbem-875	53	1	since	since	SCONJ
fbem-875	53	2	enterprises	enterprise	NOUN
fbem-875	53	3	often	often	ADV
fbem-875	53	4	face	face	VERB
fbem-875	53	5	higher	high	ADJ
fbem-875	53	6	risks	risk	NOUN
fbem-875	53	7	with	with	ADP
fbem-875	53	8	higher	high	ADJ
fbem-875	53	9	debt	debt	NOUN
fbem-875	53	10	financing	financing	NOUN
fbem-875	53	11	,	,	PUNCT
fbem-875	53	12	enterprises	enterprise	NOUN
fbem-875	53	13	with	with	ADP
fbem-875	53	14	risk	risk	NOUN
fbem-875	53	15	aversion	aversion	NOUN
fbem-875	53	16	tend	tend	VERB
fbem-875	53	17	to	to	PART
fbem-875	53	18	reduce	reduce	VERB
fbem-875	53	19	debt	debt	NOUN
fbem-875	53	20	financing	financing	NOUN
fbem-875	53	21	(	(	PUNCT
fbem-875	53	22	berk	berk	PROPN
fbem-875	53	23	et	et	PROPN
fbem-875	53	24	al	al	PROPN
fbem-875	53	25	.	.	PROPN
fbem-875	53	26	,	,	PUNCT
fbem-875	53	27	2010).the	2010).the	DET
fbem-875	53	28	social	social	ADJ
fbem-875	53	29	responsibility	responsibility	NOUN
fbem-875	53	30	of	of	ADP
fbem-875	53	31	the	the	DET
fbem-875	53	32	enterprise	enterprise	NOUN
fbem-875	53	33	report	report	NOUN
fbem-875	53	34	information	information	NOUN
fbem-875	53	35	would	would	AUX
fbem-875	53	36	increase	increase	VERB
fbem-875	53	37	the	the	DET
fbem-875	53	38	cost	cost	NOUN
fbem-875	53	39	of	of	ADP
fbem-875	53	40	the	the	DET
fbem-875	53	41	rights	right	NOUN
fbem-875	53	42	and	and	CCONJ
fbem-875	53	43	interests	interest	NOUN
fbem-875	53	44	of	of	ADP
fbem-875	53	45	companies	company	NOUN
fbem-875	53	46	,	,	PUNCT
fbem-875	53	47	even	even	ADV
fbem-875	53	48	if	if	SCONJ
fbem-875	53	49	they	they	PRON
fbem-875	53	50	do	do	AUX
fbem-875	53	51	n't	not	PART
fbem-875	53	52	consider	consider	VERB
fbem-875	53	53	the	the	DET
fbem-875	53	54	rights	right	NOUN
fbem-875	53	55	and	and	CCONJ
fbem-875	53	56	interests	interest	NOUN
fbem-875	53	57	of	of	ADP
fbem-875	53	58	the	the	DET
fbem-875	53	59	enterprise	enterprise	NOUN
fbem-875	53	60	cost	cost	NOUN
fbem-875	53	61	,	,	PUNCT
fbem-875	53	62	creditors	creditor	NOUN
fbem-875	53	63	will	will	AUX
fbem-875	53	64	also	also	ADV
fbem-875	53	65	be	be	AUX
fbem-875	53	66	some	some	DET
fbem-875	53	67	specific	specific	ADJ
fbem-875	53	68	content	content	NOUN
fbem-875	53	69	of	of	ADP
fbem-875	53	70	social	social	ADJ
fbem-875	53	71	responsibility	responsibility	NOUN
fbem-875	53	72	said	say	VERB
fbem-875	53	73	rejection	rejection	NOUN
fbem-875	53	74	(	(	PUNCT
fbem-875	53	75	tube	tube	NOUN
fbem-875	53	76	and	and	CCONJ
fbem-875	53	77	mei	mei	PROPN
fbem-875	53	78	,	,	PUNCT
fbem-875	53	79	melon&fiona	melon&fiona	PROPN
fbem-875	53	80	xin	xin	PROPN
fbem-875	53	81	,	,	PUNCT
fbem-875	53	82	2013).enterprises	2013).enterprises	PROPN
fbem-875	53	83	with	with	ADP
fbem-875	53	84	labor	labor	NOUN
fbem-875	53	85	rights	right	NOUN
fbem-875	53	86	protection	protection	NOUN
fbem-875	53	87	organizations	organization	NOUN
fbem-875	53	88	will	will	AUX
fbem-875	53	89	have	have	VERB
fbem-875	53	90	higher	high	ADJ
fbem-875	53	91	financing	financing	NOUN
fbem-875	53	92	costs	cost	NOUN
fbem-875	53	93	in	in	ADP
fbem-875	53	94	the	the	DET
fbem-875	53	95	process	process	NOUN
fbem-875	53	96	of	of	ADP
fbem-875	53	97	debt	debt	NOUN
fbem-875	53	98	financing	financing	NOUN
fbem-875	53	99	,	,	PUNCT
fbem-875	53	100	because	because	SCONJ
fbem-875	53	101	the	the	DET
fbem-875	53	102	interests	interest	NOUN
fbem-875	53	103	of	of	ADP
fbem-875	53	104	creditors	creditor	NOUN
fbem-875	53	105	will	will	AUX
fbem-875	53	106	be	be	AUX
fbem-875	53	107	greatly	greatly	ADV
fbem-875	53	108	damaged	damage	VERB
fbem-875	53	109	when	when	SCONJ
fbem-875	53	110	enterprises	enterprise	NOUN
fbem-875	53	111	go	go	VERB
fbem-875	53	112	bankrupt	bankrupt	ADJ
fbem-875	53	113	and	and	CCONJ
fbem-875	53	114	pay	pay	VERB
fbem-875	53	115	off.corporate	off.corporate	ADJ
fbem-875	53	116	social	social	ADJ
fbem-875	53	117	responsibility	responsibility	NOUN
fbem-875	53	118	reduces	reduce	VERB
fbem-875	53	119	debt	debt	NOUN
fbem-875	53	120	financing	financing	NOUN
fbem-875	53	121	to	to	ADP
fbem-875	53	122	a	a	DET
fbem-875	53	123	certain	certain	ADJ
fbem-875	53	124	extent	extent	NOUN
fbem-875	53	125	(	(	PUNCT
fbem-875	53	126	campello	campello	PROPN
fbem-875	53	127	et	et	PROPN
fbem-875	53	128	al	al	PROPN
fbem-875	53	129	.	.	PROPN
fbem-875	53	130	,	,	PUNCT
fbem-875	53	131	2015	2015	NUM
fbem-875	53	132	)	)	PUNCT
fbem-875	53	133	.	.	PUNCT
fbem-875	54	1	140	140	NUM
fbem-875	54	2	the	the	DET
fbem-875	54	3	supervision	supervision	NOUN
fbem-875	54	4	hypothesis	hypothesis	NOUN
fbem-875	54	5	holds	hold	VERB
fbem-875	54	6	that	that	SCONJ
fbem-875	54	7	a	a	DET
fbem-875	54	8	firm	firm	NOUN
fbem-875	54	9	's	's	PART
fbem-875	54	10	social	social	ADJ
fbem-875	54	11	responsibility	responsibility	NOUN
fbem-875	54	12	will	will	AUX
fbem-875	54	13	prompt	prompt	VERB
fbem-875	54	14	its	its	PRON
fbem-875	54	15	stakeholders	stakeholder	NOUN
fbem-875	54	16	to	to	PART
fbem-875	54	17	pay	pay	VERB
fbem-875	54	18	attention	attention	NOUN
fbem-875	54	19	to	to	ADP
fbem-875	54	20	its	its	PRON
fbem-875	54	21	venture	venture	NOUN
fbem-875	54	22	capital	capital	NOUN
fbem-875	54	23	behavior	behavior	NOUN
fbem-875	54	24	.	.	PUNCT
fbem-875	55	1	under	under	ADP
fbem-875	55	2	the	the	DET
fbem-875	55	3	stake	stake	NOUN
fbem-875	55	4	-	-	PUNCT
fbem-875	55	5	related	relate	VERB
fbem-875	55	6	supervision	supervision	NOUN
fbem-875	55	7	,	,	PUNCT
fbem-875	55	8	a	a	DET
fbem-875	55	9	firm	firm	NOUN
fbem-875	55	10	will	will	AUX
fbem-875	55	11	reduce	reduce	VERB
fbem-875	55	12	its	its	PRON
fbem-875	55	13	investment	investment	NOUN
fbem-875	55	14	in	in	ADP
fbem-875	55	15	high	high	ADJ
fbem-875	55	16	-	-	PUNCT
fbem-875	55	17	risk	risk	NOUN
fbem-875	55	18	projects	project	NOUN
fbem-875	55	19	and	and	CCONJ
fbem-875	55	20	encourage	encourage	VERB
fbem-875	55	21	it	it	PRON
fbem-875	55	22	to	to	PART
fbem-875	55	23	choose	choose	VERB
fbem-875	55	24	low	low	ADJ
fbem-875	55	25	-	-	PUNCT
fbem-875	55	26	risk	risk	NOUN
fbem-875	55	27	investment	investment	NOUN
fbem-875	55	28	projects	project	NOUN
fbem-875	55	29	.	.	PUNCT
fbem-875	56	1	when	when	SCONJ
fbem-875	56	2	the	the	DET
fbem-875	56	3	disclosure	disclosure	NOUN
fbem-875	56	4	of	of	ADP
fbem-875	56	5	social	social	ADJ
fbem-875	56	6	responsibility	responsibility	NOUN
fbem-875	56	7	information	information	NOUN
fbem-875	56	8	affect	affect	VERB
fbem-875	56	9	the	the	DET
fbem-875	56	10	interests	interest	NOUN
fbem-875	56	11	of	of	ADP
fbem-875	56	12	the	the	DET
fbem-875	56	13	enterprise	enterprise	NOUN
fbem-875	56	14	and	and	CCONJ
fbem-875	56	15	its	its	PRON
fbem-875	56	16	related	related	ADJ
fbem-875	56	17	trade	trade	NOUN
fbem-875	56	18	,	,	PUNCT
fbem-875	56	19	business	business	NOUN
fbem-875	56	20	investment	investment	NOUN
fbem-875	56	21	in	in	ADP
fbem-875	56	22	the	the	DET
fbem-875	56	23	net	net	ADJ
fbem-875	56	24	income	income	NOUN
fbem-875	56	25	is	be	AUX
fbem-875	56	26	high	high	ADJ
fbem-875	56	27	but	but	CCONJ
fbem-875	56	28	still	still	ADV
fbem-875	56	29	need	need	VERB
fbem-875	56	30	to	to	PART
fbem-875	56	31	raise	raise	VERB
fbem-875	56	32	additional	additional	ADJ
fbem-875	56	33	capital	capital	NOUN
fbem-875	56	34	project	project	NOUN
fbem-875	56	35	's	's	PART
fbem-875	56	36	enthusiasm	enthusiasm	NOUN
fbem-875	56	37	will	will	AUX
fbem-875	56	38	reduce	reduce	VERB
fbem-875	56	39	,	,	PUNCT
fbem-875	56	40	the	the	DET
fbem-875	56	41	social	social	ADJ
fbem-875	56	42	responsibility	responsibility	NOUN
fbem-875	56	43	information	information	NOUN
fbem-875	56	44	disclosure	disclosure	NOUN
fbem-875	56	45	of	of	ADP
fbem-875	56	46	enterprise	enterprise	NOUN
fbem-875	56	47	debt	debt	NOUN
fbem-875	56	48	financing	financing	NOUN
fbem-875	56	49	have	have	VERB
fbem-875	56	50	a	a	DET
fbem-875	56	51	negative	negative	ADJ
fbem-875	56	52	impact	impact	NOUN
fbem-875	56	53	.	.	PUNCT
fbem-875	57	1	in	in	ADP
fbem-875	57	2	addition	addition	NOUN
fbem-875	57	3	,	,	PUNCT
fbem-875	57	4	the	the	DET
fbem-875	57	5	company	company	NOUN
fbem-875	57	6	's	's	PART
fbem-875	57	7	social	social	ADJ
fbem-875	57	8	responsibility	responsibility	NOUN
fbem-875	57	9	information	information	NOUN
fbem-875	57	10	disclosure	disclosure	NOUN
fbem-875	57	11	level	level	NOUN
fbem-875	57	12	is	be	AUX
fbem-875	57	13	low	low	ADJ
fbem-875	57	14	leveraged	leveraged	ADJ
fbem-875	57	15	firms	firm	NOUN
fbem-875	57	16	will	will	AUX
fbem-875	57	17	be	be	AUX
fbem-875	57	18	higher	high	ADJ
fbem-875	57	19	.	.	PUNCT
fbem-875	58	1	from	from	ADP
fbem-875	58	2	the	the	DET
fbem-875	58	3	perspective	perspective	NOUN
fbem-875	58	4	of	of	ADP
fbem-875	58	5	supervision	supervision	NOUN
fbem-875	58	6	hypothesis	hypothesis	NOUN
fbem-875	58	7	,	,	PUNCT
fbem-875	58	8	in	in	ADP
fbem-875	58	9	order	order	NOUN
fbem-875	58	10	to	to	PART
fbem-875	58	11	evaluate	evaluate	VERB
fbem-875	58	12	the	the	DET
fbem-875	58	13	impact	impact	NOUN
fbem-875	58	14	of	of	ADP
fbem-875	58	15	social	social	ADJ
fbem-875	58	16	responsibility	responsibility	NOUN
fbem-875	58	17	on	on	ADP
fbem-875	58	18	debt	debt	NOUN
fbem-875	58	19	financing	financing	NOUN
fbem-875	58	20	,	,	PUNCT
fbem-875	58	21	this	this	DET
fbem-875	58	22	paper	paper	NOUN
fbem-875	58	23	proposes	propose	VERB
fbem-875	58	24	the	the	DET
fbem-875	58	25	following	follow	VERB
fbem-875	58	26	hypothesis	hypothesis	NOUN
fbem-875	58	27	:	:	PUNCT
fbem-875	58	28	h2	h2	NOUN
fbem-875	58	29	:	:	PUNCT
fbem-875	58	30	there	there	PRON
fbem-875	58	31	is	be	VERB
fbem-875	58	32	a	a	DET
fbem-875	58	33	negative	negative	ADJ
fbem-875	58	34	correlation	correlation	NOUN
fbem-875	58	35	between	between	ADP
fbem-875	58	36	csr	csr	NOUN
fbem-875	58	37	and	and	CCONJ
fbem-875	58	38	debt	debt	NOUN
fbem-875	58	39	financing	financing	NOUN
fbem-875	58	40	,	,	PUNCT
fbem-875	58	41	that	that	ADV
fbem-875	58	42	is	is	ADV
fbem-875	58	43	,	,	PUNCT
fbem-875	58	44	enterprises	enterprise	NOUN
fbem-875	58	45	actively	actively	ADV
fbem-875	58	46	undertake	undertake	VERB
fbem-875	58	47	social	social	ADJ
fbem-875	58	48	responsibility	responsibility	NOUN
fbem-875	58	49	helps	help	VERB
fbem-875	58	50	to	to	PART
fbem-875	58	51	reduce	reduce	VERB
fbem-875	58	52	the	the	DET
fbem-875	58	53	proportion	proportion	NOUN
fbem-875	58	54	of	of	ADP
fbem-875	58	55	debt	debt	NOUN
fbem-875	58	56	financing	financing	NOUN
fbem-875	58	57	.	.	PUNCT
fbem-875	59	1	2.3	2.3	NUM
fbem-875	59	2	.	.	PUNCT
fbem-875	60	1	the	the	DET
fbem-875	60	2	moderating	moderate	VERB
fbem-875	60	3	role	role	NOUN
fbem-875	60	4	of	of	ADP
fbem-875	60	5	corporate	corporate	ADJ
fbem-875	60	6	social	social	ADJ
fbem-875	60	7	responsibility	responsibility	NOUN
fbem-875	60	8	in	in	ADP
fbem-875	60	9	the	the	DET
fbem-875	60	10	path	path	NOUN
fbem-875	60	11	of	of	ADP
fbem-875	60	12	debt	debt	NOUN
fbem-875	60	13	financing	financing	NOUN
fbem-875	60	14	and	and	CCONJ
fbem-875	60	15	corporate	corporate	ADJ
fbem-875	60	16	performance	performance	NOUN
fbem-875	60	17	corporate	corporate	ADJ
fbem-875	60	18	social	social	ADJ
fbem-875	60	19	responsibility	responsibility	NOUN
fbem-875	60	20	can	can	AUX
fbem-875	60	21	adjust	adjust	VERB
fbem-875	60	22	the	the	DET
fbem-875	60	23	relationship	relationship	NOUN
fbem-875	60	24	between	between	ADP
fbem-875	60	25	enterprises	enterprise	NOUN
fbem-875	60	26	and	and	CCONJ
fbem-875	60	27	their	their	PRON
fbem-875	60	28	stakeholders	stakeholder	NOUN
fbem-875	60	29	,	,	PUNCT
fbem-875	60	30	and	and	CCONJ
fbem-875	60	31	is	be	AUX
fbem-875	60	32	closely	closely	ADV
fbem-875	60	33	related	relate	VERB
fbem-875	60	34	to	to	ADP
fbem-875	60	35	enterprise	enterprise	NOUN
fbem-875	60	36	value	value	NOUN
fbem-875	60	37	.	.	PUNCT
fbem-875	61	1	based	base	VERB
fbem-875	61	2	on	on	ADP
fbem-875	61	3	stakeholder	stakeholder	PROPN
fbem-875	61	4	theory	theory	NOUN
fbem-875	61	5	,	,	PUNCT
fbem-875	61	6	the	the	DET
fbem-875	61	7	enterprise	enterprise	NOUN
fbem-875	61	8	to	to	PART
fbem-875	61	9	improve	improve	VERB
fbem-875	61	10	the	the	DET
fbem-875	61	11	long	long	ADJ
fbem-875	61	12	-	-	PUNCT
fbem-875	61	13	term	term	NOUN
fbem-875	61	14	performance	performance	NOUN
fbem-875	61	15	of	of	ADP
fbem-875	61	16	enterprises	enterprise	NOUN
fbem-875	61	17	,	,	PUNCT
fbem-875	61	18	need	need	VERB
fbem-875	61	19	to	to	PART
fbem-875	61	20	get	get	VERB
fbem-875	61	21	the	the	DET
fbem-875	61	22	support	support	NOUN
fbem-875	61	23	of	of	ADP
fbem-875	61	24	the	the	DET
fbem-875	61	25	enterprise	enterprise	NOUN
fbem-875	61	26	stakeholders	stakeholder	NOUN
fbem-875	61	27	,	,	PUNCT
fbem-875	61	28	enterprise	enterprise	NOUN
fbem-875	61	29	stakeholders	stakeholder	NOUN
fbem-875	61	30	is	be	AUX
fbem-875	61	31	an	an	DET
fbem-875	61	32	important	important	ADJ
fbem-875	61	33	guarantee	guarantee	NOUN
fbem-875	61	34	of	of	ADP
fbem-875	61	35	normal	normal	ADJ
fbem-875	61	36	operation	operation	NOUN
fbem-875	61	37	of	of	ADP
fbem-875	61	38	enterprises	enterprise	NOUN
fbem-875	61	39	can	can	AUX
fbem-875	61	40	get	get	VERB
fbem-875	61	41	,	,	PUNCT
fbem-875	61	42	executives	executive	NOUN
fbem-875	61	43	if	if	SCONJ
fbem-875	61	44	can	can	AUX
fbem-875	61	45	support	support	VERB
fbem-875	61	46	from	from	ADP
fbem-875	61	47	the	the	DET
fbem-875	61	48	staff	staff	NOUN
fbem-875	61	49	of	of	ADP
fbem-875	61	50	the	the	DET
fbem-875	61	51	business	business	NOUN
fbem-875	61	52	strategy	strategy	NOUN
fbem-875	61	53	,	,	PUNCT
fbem-875	61	54	will	will	AUX
fbem-875	61	55	greatly	greatly	ADV
fbem-875	61	56	enhance	enhance	VERB
fbem-875	61	57	the	the	DET
fbem-875	61	58	productivity	productivity	NOUN
fbem-875	61	59	of	of	ADP
fbem-875	61	60	enterprises	enterprise	NOUN
fbem-875	61	61	,	,	PUNCT
fbem-875	61	62	can	can	AUX
fbem-875	61	63	also	also	ADV
fbem-875	61	64	reduce	reduce	VERB
fbem-875	61	65	the	the	DET
fbem-875	61	66	loss	loss	NOUN
fbem-875	61	67	of	of	ADP
fbem-875	61	68	enterprises	enterprise	NOUN
fbem-875	61	69	in	in	ADP
fbem-875	61	70	the	the	DET
fbem-875	61	71	production	production	NOUN
fbem-875	61	72	,	,	PUNCT
fbem-875	61	73	the	the	DET
fbem-875	61	74	development	development	NOUN
fbem-875	61	75	of	of	ADP
fbem-875	61	76	an	an	DET
fbem-875	61	77	enterprise	enterprise	NOUN
fbem-875	61	78	is	be	AUX
fbem-875	61	79	inseparable	inseparable	ADJ
fbem-875	61	80	from	from	ADP
fbem-875	61	81	the	the	DET
fbem-875	61	82	support	support	NOUN
fbem-875	61	83	of	of	ADP
fbem-875	61	84	investors	investor	NOUN
fbem-875	61	85	.	.	PUNCT
fbem-875	62	1	when	when	SCONJ
fbem-875	62	2	managers	manager	NOUN
fbem-875	62	3	get	get	VERB
fbem-875	62	4	the	the	DET
fbem-875	62	5	support	support	NOUN
fbem-875	62	6	of	of	ADP
fbem-875	62	7	investors	investor	NOUN
fbem-875	62	8	,	,	PUNCT
fbem-875	62	9	the	the	DET
fbem-875	62	10	risk	risk	NOUN
fbem-875	62	11	of	of	ADP
fbem-875	62	12	poor	poor	ADJ
fbem-875	62	13	capital	capital	NOUN
fbem-875	62	14	turnover	turnover	NOUN
fbem-875	62	15	of	of	ADP
fbem-875	62	16	the	the	DET
fbem-875	62	17	enterprise	enterprise	NOUN
fbem-875	62	18	will	will	AUX
fbem-875	62	19	be	be	AUX
fbem-875	62	20	reduced	reduce	VERB
fbem-875	62	21	.	.	PUNCT
fbem-875	63	1	if	if	SCONJ
fbem-875	63	2	the	the	DET
fbem-875	63	3	enterprise	enterprise	NOUN
fbem-875	63	4	gets	get	VERB
fbem-875	63	5	the	the	DET
fbem-875	63	6	support	support	NOUN
fbem-875	63	7	of	of	ADP
fbem-875	63	8	customers	customer	NOUN
fbem-875	63	9	,	,	PUNCT
fbem-875	63	10	the	the	DET
fbem-875	63	11	sales	sale	NOUN
fbem-875	63	12	growth	growth	NOUN
fbem-875	63	13	rate	rate	NOUN
fbem-875	63	14	will	will	AUX
fbem-875	63	15	be	be	AUX
fbem-875	63	16	increased	increase	VERB
fbem-875	63	17	,	,	PUNCT
fbem-875	63	18	the	the	DET
fbem-875	63	19	healthy	healthy	ADJ
fbem-875	63	20	development	development	NOUN
fbem-875	63	21	of	of	ADP
fbem-875	63	22	the	the	DET
fbem-875	63	23	enterprise	enterprise	NOUN
fbem-875	63	24	will	will	AUX
fbem-875	63	25	be	be	AUX
fbem-875	63	26	promoted	promote	VERB
fbem-875	63	27	,	,	PUNCT
fbem-875	63	28	and	and	CCONJ
fbem-875	63	29	the	the	DET
fbem-875	63	30	cost	cost	NOUN
fbem-875	63	31	of	of	ADP
fbem-875	63	32	the	the	DET
fbem-875	63	33	enterprise	enterprise	NOUN
fbem-875	63	34	will	will	AUX
fbem-875	63	35	be	be	AUX
fbem-875	63	36	reduced	reduce	VERB
fbem-875	63	37	.	.	PUNCT
fbem-875	64	1	according	accord	VERB
fbem-875	64	2	to	to	ADP
fbem-875	64	3	social	social	ADJ
fbem-875	64	4	responsibility	responsibility	NOUN
fbem-875	64	5	effect	effect	NOUN
fbem-875	64	6	hypothesis	hypothesis	NOUN
fbem-875	64	7	,	,	PUNCT
fbem-875	64	8	the	the	DET
fbem-875	64	9	enterprise	enterprise	NOUN
fbem-875	64	10	by	by	ADP
fbem-875	64	11	establishing	establish	VERB
fbem-875	64	12	good	good	ADJ
fbem-875	64	13	relationship	relationship	NOUN
fbem-875	64	14	with	with	ADP
fbem-875	64	15	the	the	DET
fbem-875	64	16	enterprise	enterprise	NOUN
fbem-875	64	17	stakeholders	stakeholder	NOUN
fbem-875	64	18	can	can	AUX
fbem-875	64	19	bring	bring	VERB
fbem-875	64	20	a	a	DET
fbem-875	64	21	good	good	ADJ
fbem-875	64	22	reputation	reputation	NOUN
fbem-875	64	23	for	for	ADP
fbem-875	64	24	the	the	DET
fbem-875	64	25	enterprise	enterprise	NOUN
fbem-875	64	26	,	,	PUNCT
fbem-875	64	27	positive	positive	ADJ
fbem-875	64	28	promoting	promote	VERB
fbem-875	64	29	effect	effect	NOUN
fbem-875	64	30	on	on	ADP
fbem-875	64	31	enterprise	enterprise	NOUN
fbem-875	64	32	performance	performance	NOUN
fbem-875	64	33	,	,	PUNCT
fbem-875	64	34	enterprise	enterprise	NOUN
fbem-875	64	35	in	in	ADP
fbem-875	64	36	the	the	DET
fbem-875	64	37	process	process	NOUN
fbem-875	64	38	of	of	ADP
fbem-875	64	39	social	social	ADJ
fbem-875	64	40	responsibility	responsibility	NOUN
fbem-875	64	41	takes	take	VERB
fbem-875	64	42	a	a	DET
fbem-875	64	43	certain	certain	ADJ
fbem-875	64	44	resources	resource	NOUN
fbem-875	64	45	,	,	PUNCT
fbem-875	64	46	produce	produce	VERB
fbem-875	64	47	certain	certain	ADJ
fbem-875	64	48	costs	cost	NOUN
fbem-875	64	49	,	,	PUNCT
fbem-875	64	50	but	but	CCONJ
fbem-875	64	51	the	the	DET
fbem-875	64	52	benefits	benefit	NOUN
fbem-875	64	53	brought	bring	VERB
fbem-875	64	54	by	by	ADP
fbem-875	64	55	the	the	DET
fbem-875	64	56	social	social	ADJ
fbem-875	64	57	responsibility	responsibility	NOUN
fbem-875	64	58	is	be	AUX
fbem-875	64	59	greater	great	ADJ
fbem-875	64	60	than	than	ADP
fbem-875	64	61	the	the	DET
fbem-875	64	62	cost	cost	NOUN
fbem-875	64	63	,	,	PUNCT
fbem-875	64	64	therefore	therefore	ADV
fbem-875	64	65	,	,	PUNCT
fbem-875	64	66	corporate	corporate	ADJ
fbem-875	64	67	social	social	ADJ
fbem-875	64	68	responsibility	responsibility	NOUN
fbem-875	64	69	will	will	AUX
fbem-875	64	70	improve	improve	VERB
fbem-875	64	71	corporate	corporate	ADJ
fbem-875	64	72	performance	performance	NOUN
fbem-875	64	73	(	(	PUNCT
fbem-875	64	74	preston	preston	PROPN
fbem-875	64	75	and	and	CCONJ
fbem-875	64	76	o'bannon	o'bannon	PROPN
fbem-875	64	77	,	,	PUNCT
fbem-875	64	78	1997	1997	NUM
fbem-875	64	79	)	)	PUNCT
fbem-875	64	80	.	.	PUNCT
fbem-875	65	1	enterprise	enterprise	NOUN
fbem-875	65	2	positive	positive	ADJ
fbem-875	65	3	social	social	ADJ
fbem-875	65	4	responsibility	responsibility	NOUN
fbem-875	65	5	to	to	ADP
fbem-875	65	6	a	a	DET
fbem-875	65	7	certain	certain	ADJ
fbem-875	65	8	extent	extent	NOUN
fbem-875	65	9	,	,	PUNCT
fbem-875	65	10	improve	improve	VERB
fbem-875	65	11	the	the	DET
fbem-875	65	12	enterprise	enterprise	NOUN
fbem-875	65	13	's	's	PART
fbem-875	65	14	risk	risk	NOUN
fbem-875	65	15	consciousness	consciousness	NOUN
fbem-875	65	16	,	,	PUNCT
fbem-875	65	17	in	in	ADP
fbem-875	65	18	under	under	ADP
fbem-875	65	19	the	the	DET
fbem-875	65	20	supervision	supervision	NOUN
fbem-875	65	21	of	of	ADP
fbem-875	65	22	stakeholders	stakeholder	NOUN
fbem-875	65	23	,	,	PUNCT
fbem-875	65	24	enterprises	enterprise	NOUN
fbem-875	65	25	can	can	AUX
fbem-875	65	26	reduce	reduce	VERB
fbem-875	65	27	the	the	DET
fbem-875	65	28	high	high	ADJ
fbem-875	65	29	risk	risk	NOUN
fbem-875	65	30	project	project	NOUN
fbem-875	65	31	investment	investment	NOUN
fbem-875	65	32	,	,	PUNCT
fbem-875	65	33	negative	negative	ADJ
fbem-875	65	34	influence	influence	NOUN
fbem-875	65	35	on	on	ADP
fbem-875	65	36	enterprise	enterprise	NOUN
fbem-875	65	37	's	's	PART
fbem-875	65	38	debt	debt	NOUN
fbem-875	65	39	financing	financing	NOUN
fbem-875	65	40	,	,	PUNCT
fbem-875	65	41	reduce	reduce	VERB
fbem-875	65	42	corporate	corporate	ADJ
fbem-875	65	43	debt	debt	NOUN
fbem-875	65	44	leverage	leverage	NOUN
fbem-875	65	45	.	.	PUNCT
fbem-875	66	1	enterprises	enterprise	NOUN
fbem-875	66	2	reduce	reduce	VERB
fbem-875	66	3	the	the	DET
fbem-875	66	4	proportion	proportion	NOUN
fbem-875	66	5	of	of	ADP
fbem-875	66	6	debt	debt	NOUN
fbem-875	66	7	financing	financing	NOUN
fbem-875	66	8	,	,	PUNCT
fbem-875	66	9	can	can	AUX
fbem-875	66	10	reduce	reduce	VERB
fbem-875	66	11	enterprise	enterprise	NOUN
fbem-875	66	12	default	default	NOUN
fbem-875	66	13	risk	risk	NOUN
fbem-875	66	14	and	and	CCONJ
fbem-875	66	15	operating	operate	VERB
fbem-875	66	16	financial	financial	ADJ
fbem-875	66	17	risk	risk	NOUN
fbem-875	66	18	;	;	PUNCT
fbem-875	66	19	as	as	ADP
fbem-875	66	20	the	the	DET
fbem-875	66	21	proportion	proportion	NOUN
fbem-875	66	22	of	of	ADP
fbem-875	66	23	debt	debt	NOUN
fbem-875	66	24	financing	financing	NOUN
fbem-875	66	25	decreases	decrease	VERB
fbem-875	66	26	,	,	PUNCT
fbem-875	66	27	the	the	DET
fbem-875	66	28	investment	investment	NOUN
fbem-875	66	29	efficiency	efficiency	NOUN
fbem-875	66	30	of	of	ADP
fbem-875	66	31	enterprises	enterprise	NOUN
fbem-875	66	32	increases	increase	VERB
fbem-875	66	33	,	,	PUNCT
fbem-875	66	34	and	and	CCONJ
fbem-875	66	35	r&d	r&d	NOUN
fbem-875	66	36	investment	investment	NOUN
fbem-875	66	37	increases	increase	NOUN
fbem-875	66	38	.	.	PUNCT
fbem-875	67	1	although	although	SCONJ
fbem-875	67	2	r&d	r&d	NOUN
fbem-875	67	3	investment	investment	NOUN
fbem-875	67	4	does	do	AUX
fbem-875	67	5	not	not	PART
fbem-875	67	6	have	have	VERB
fbem-875	67	7	a	a	DET
fbem-875	67	8	significant	significant	ADJ
fbem-875	67	9	promoting	promote	VERB
fbem-875	67	10	effect	effect	NOUN
fbem-875	67	11	on	on	ADP
fbem-875	67	12	enterprise	enterprise	NOUN
fbem-875	67	13	performance	performance	NOUN
fbem-875	67	14	in	in	ADP
fbem-875	67	15	the	the	DET
fbem-875	67	16	current	current	ADJ
fbem-875	67	17	year	year	NOUN
fbem-875	67	18	,	,	PUNCT
fbem-875	67	19	it	it	PRON
fbem-875	67	20	will	will	AUX
fbem-875	67	21	have	have	VERB
fbem-875	67	22	a	a	DET
fbem-875	67	23	positive	positive	ADJ
fbem-875	67	24	impact	impact	NOUN
fbem-875	67	25	on	on	ADP
fbem-875	67	26	the	the	DET
fbem-875	67	27	improvement	improvement	NOUN
fbem-875	67	28	of	of	ADP
fbem-875	67	29	enterprise	enterprise	NOUN
fbem-875	67	30	performance	performance	NOUN
fbem-875	67	31	in	in	ADP
fbem-875	67	32	the	the	DET
fbem-875	67	33	future	future	NOUN
fbem-875	67	34	(	(	PUNCT
fbem-875	67	35	dai	dai	PROPN
fbem-875	67	36	zhimin	zhimin	PROPN
fbem-875	67	37	and	and	CCONJ
fbem-875	67	38	gu	gu	NOUN
fbem-875	67	39	liyuan	liyuan	PROPN
fbem-875	67	40	et	et	PROPN
fbem-875	67	41	al	al	PROPN
fbem-875	67	42	.	.	PROPN
fbem-875	67	43	,	,	PUNCT
fbem-875	67	44	2021;li	2021;li	PROPN
fbem-875	67	45	xiuzhi	xiuzhi	PROPN
fbem-875	67	46	and	and	CCONJ
fbem-875	67	47	zhao	zhao	PROPN
fbem-875	67	48	shaojuan	shaojuan	PROPN
fbem-875	67	49	et	et	PROPN
fbem-875	67	50	al	al	PROPN
fbem-875	67	51	.	.	PROPN
fbem-875	67	52	,	,	PUNCT
fbem-875	67	53	2019);under	2019);under	NUM
fbem-875	67	54	the	the	DET
fbem-875	67	55	condition	condition	NOUN
fbem-875	67	56	of	of	ADP
fbem-875	67	57	enterprise	enterprise	NOUN
fbem-875	67	58	in	in	ADP
fbem-875	67	59	debt	debt	NOUN
fbem-875	67	60	capital	capital	NOUN
fbem-875	67	61	is	be	AUX
fbem-875	67	62	scarce	scarce	ADJ
fbem-875	67	63	,	,	PUNCT
fbem-875	67	64	will	will	AUX
fbem-875	67	65	improve	improve	VERB
fbem-875	67	66	the	the	DET
fbem-875	67	67	service	service	NOUN
fbem-875	67	68	efficiency	efficiency	NOUN
fbem-875	67	69	of	of	ADP
fbem-875	67	70	funds	fund	NOUN
fbem-875	67	71	,	,	PUNCT
fbem-875	67	72	to	to	PART
fbem-875	67	73	avoid	avoid	VERB
fbem-875	67	74	blind	blind	ADJ
fbem-875	67	75	expansion	expansion	NOUN
fbem-875	67	76	,	,	PUNCT
fbem-875	67	77	promote	promote	VERB
fbem-875	67	78	transformation	transformation	NOUN
fbem-875	67	79	and	and	CCONJ
fbem-875	67	80	upgrading	upgrading	NOUN
fbem-875	67	81	of	of	ADP
fbem-875	67	82	enterprises	enterprise	NOUN
fbem-875	67	83	,	,	PUNCT
fbem-875	67	84	and	and	CCONJ
fbem-875	67	85	have	have	VERB
fbem-875	67	86	a	a	DET
fbem-875	67	87	positive	positive	ADJ
fbem-875	67	88	impact	impact	NOUN
fbem-875	67	89	not	not	PART
fbem-875	67	90	only	only	ADV
fbem-875	67	91	on	on	ADP
fbem-875	67	92	business	business	NOUN
fbem-875	67	93	performance	performance	NOUN
fbem-875	67	94	also	also	ADV
fbem-875	67	95	is	be	AUX
fbem-875	67	96	advantageous	advantageous	ADJ
fbem-875	67	97	to	to	ADP
fbem-875	67	98	the	the	DET
fbem-875	67	99	enterprise	enterprise	NOUN
fbem-875	67	100	long	long	ADJ
fbem-875	67	101	-	-	PUNCT
fbem-875	67	102	term	term	NOUN
fbem-875	67	103	development	development	NOUN
fbem-875	67	104	.	.	PUNCT
fbem-875	68	1	therefore	therefore	ADV
fbem-875	68	2	,	,	PUNCT
fbem-875	68	3	high	high	ADJ
fbem-875	68	4	debt	debt	NOUN
fbem-875	68	5	financing	financing	NOUN
fbem-875	68	6	is	be	AUX
fbem-875	68	7	not	not	PART
fbem-875	68	8	conducive	conducive	ADJ
fbem-875	68	9	to	to	ADP
fbem-875	68	10	the	the	DET
fbem-875	68	11	improvement	improvement	NOUN
fbem-875	68	12	of	of	ADP
fbem-875	68	13	corporate	corporate	ADJ
fbem-875	68	14	performance	performance	NOUN
fbem-875	68	15	.	.	PUNCT
fbem-875	69	1	actively	actively	ADV
fbem-875	69	2	undertaking	undertake	VERB
fbem-875	69	3	social	social	ADJ
fbem-875	69	4	responsibility	responsibility	NOUN
fbem-875	69	5	can	can	AUX
fbem-875	69	6	improve	improve	VERB
fbem-875	69	7	the	the	DET
fbem-875	69	8	awareness	awareness	NOUN
fbem-875	69	9	of	of	ADP
fbem-875	69	10	corporate	corporate	ADJ
fbem-875	69	11	risk	risk	NOUN
fbem-875	69	12	avoidance	avoidance	NOUN
fbem-875	69	13	,	,	PUNCT
fbem-875	69	14	reduce	reduce	VERB
fbem-875	69	15	the	the	DET
fbem-875	69	16	proportion	proportion	NOUN
fbem-875	69	17	of	of	ADP
fbem-875	69	18	corporate	corporate	ADJ
fbem-875	69	19	debt	debt	NOUN
fbem-875	69	20	financing	financing	NOUN
fbem-875	69	21	,	,	PUNCT
fbem-875	69	22	and	and	CCONJ
fbem-875	69	23	have	have	VERB
fbem-875	69	24	a	a	DET
fbem-875	69	25	positive	positive	ADJ
fbem-875	69	26	impact	impact	NOUN
fbem-875	69	27	on	on	ADP
fbem-875	69	28	corporate	corporate	ADJ
fbem-875	69	29	performance	performance	NOUN
fbem-875	69	30	.	.	PUNCT
fbem-875	70	1	based	base	VERB
fbem-875	70	2	on	on	ADP
fbem-875	70	3	this	this	PRON
fbem-875	70	4	,	,	PUNCT
fbem-875	70	5	this	this	DET
fbem-875	70	6	paper	paper	NOUN
fbem-875	70	7	proposes	propose	VERB
fbem-875	70	8	the	the	DET
fbem-875	70	9	following	follow	VERB
fbem-875	70	10	hypothesis	hypothesis	NOUN
fbem-875	70	11	:	:	PUNCT
fbem-875	70	12	h3	h3	NOUN
fbem-875	70	13	:	:	PUNCT
fbem-875	70	14	corporate	corporate	ADJ
fbem-875	70	15	social	social	ADJ
fbem-875	70	16	responsibility	responsibility	NOUN
fbem-875	70	17	can	can	AUX
fbem-875	70	18	positively	positively	ADV
fbem-875	70	19	promote	promote	VERB
fbem-875	70	20	the	the	DET
fbem-875	70	21	negative	negative	ADJ
fbem-875	70	22	correlation	correlation	NOUN
fbem-875	70	23	between	between	ADP
fbem-875	70	24	corporate	corporate	ADJ
fbem-875	70	25	debt	debt	NOUN
fbem-875	70	26	financing	financing	NOUN
fbem-875	70	27	and	and	CCONJ
fbem-875	70	28	corporate	corporate	ADJ
fbem-875	70	29	performance	performance	NOUN
fbem-875	70	30	,	,	PUNCT
fbem-875	70	31	that	that	ADV
fbem-875	70	32	is	is	ADV
fbem-875	70	33	,	,	PUNCT
fbem-875	70	34	corporate	corporate	ADJ
fbem-875	70	35	social	social	ADJ
fbem-875	70	36	responsibility	responsibility	NOUN
fbem-875	70	37	can	can	AUX
fbem-875	70	38	reduce	reduce	VERB
fbem-875	70	39	the	the	DET
fbem-875	70	40	proportion	proportion	NOUN
fbem-875	70	41	of	of	ADP
fbem-875	70	42	corporate	corporate	ADJ
fbem-875	70	43	debt	debt	NOUN
fbem-875	70	44	financing	financing	NOUN
fbem-875	70	45	,	,	PUNCT
fbem-875	70	46	thus	thus	ADV
fbem-875	70	47	promoting	promote	VERB
fbem-875	70	48	the	the	DET
fbem-875	70	49	improvement	improvement	NOUN
fbem-875	70	50	of	of	ADP
fbem-875	70	51	performance	performance	NOUN
fbem-875	70	52	.	.	PUNCT
fbem-875	71	1	3	3	X
fbem-875	71	2	.	.	X
fbem-875	71	3	sample	sample	NOUN
fbem-875	71	4	selection	selection	NOUN
fbem-875	71	5	and	and	CCONJ
fbem-875	71	6	study	study	NOUN
fbem-875	71	7	design	design	NOUN
fbem-875	71	8	3.1	3.1	NUM
fbem-875	71	9	.	.	PUNCT
fbem-875	71	10	sample	sample	NOUN
fbem-875	71	11	selection	selection	NOUN
fbem-875	71	12	and	and	CCONJ
fbem-875	71	13	data	datum	NOUN
fbem-875	71	14	sources	source	NOUN
fbem-875	71	15	this	this	DET
fbem-875	71	16	paper	paper	NOUN
fbem-875	71	17	selects	select	VERB
fbem-875	71	18	the	the	DET
fbem-875	71	19	financial	financial	ADJ
fbem-875	71	20	data	datum	NOUN
fbem-875	71	21	of	of	ADP
fbem-875	71	22	a	a	DET
fbem-875	71	23	-	-	PUNCT
fbem-875	71	24	share	share	NOUN
fbem-875	71	25	nonfinancial	nonfinancial	ADJ
fbem-875	71	26	listed	list	VERB
fbem-875	71	27	companies	company	NOUN
fbem-875	71	28	in	in	ADP
fbem-875	71	29	shanghai	shanghai	PROPN
fbem-875	71	30	and	and	CCONJ
fbem-875	71	31	shenzhen	shenzhen	PROPN
fbem-875	71	32	from	from	ADP
fbem-875	71	33	2015	2015	NUM
fbem-875	71	34	to	to	ADP
fbem-875	71	35	2019	2019	NUM
fbem-875	71	36	as	as	ADP
fbem-875	71	37	the	the	DET
fbem-875	71	38	research	research	NOUN
fbem-875	71	39	sample	sample	NOUN
fbem-875	71	40	.	.	PUNCT
fbem-875	72	1	in	in	ADP
fbem-875	72	2	order	order	NOUN
fbem-875	72	3	to	to	PART
fbem-875	72	4	make	make	VERB
fbem-875	72	5	the	the	DET
fbem-875	72	6	sample	sample	NOUN
fbem-875	72	7	data	datum	NOUN
fbem-875	72	8	more	more	ADJ
fbem-875	72	9	representative	representative	NOUN
fbem-875	72	10	,	,	PUNCT
fbem-875	72	11	this	this	DET
fbem-875	72	12	paper	paper	NOUN
fbem-875	72	13	sorts	sort	VERB
fbem-875	72	14	out	out	ADP
fbem-875	72	15	the	the	DET
fbem-875	72	16	sample	sample	NOUN
fbem-875	72	17	data	datum	NOUN
fbem-875	72	18	as	as	SCONJ
fbem-875	72	19	follows	follow	VERB
fbem-875	72	20	:	:	PUNCT
fbem-875	72	21	first	first	ADV
fbem-875	72	22	,	,	PUNCT
fbem-875	72	23	the	the	DET
fbem-875	72	24	sample	sample	NOUN
fbem-875	72	25	companies	company	NOUN
fbem-875	72	26	in	in	ADP
fbem-875	72	27	hexun.com	hexun.com	X
fbem-875	72	28	that	that	PRON
fbem-875	72	29	did	do	AUX
fbem-875	72	30	not	not	PART
fbem-875	72	31	report	report	VERB
fbem-875	72	32	social	social	ADJ
fbem-875	72	33	responsibility	responsibility	NOUN
fbem-875	72	34	scores	score	NOUN
fbem-875	72	35	in	in	ADP
fbem-875	72	36	that	that	DET
fbem-875	72	37	year	year	NOUN
fbem-875	72	38	were	be	AUX
fbem-875	72	39	excluded	exclude	VERB
fbem-875	72	40	;	;	PUNCT
fbem-875	72	41	secondly	secondly	ADV
fbem-875	72	42	,	,	PUNCT
fbem-875	72	43	the	the	DET
fbem-875	72	44	sample	sample	NOUN
fbem-875	72	45	companies	company	NOUN
fbem-875	72	46	of	of	ADP
fbem-875	72	47	financial	financial	ADJ
fbem-875	72	48	industry	industry	NOUN
fbem-875	72	49	and	and	CCONJ
fbem-875	72	50	insurance	insurance	NOUN
fbem-875	72	51	industry	industry	NOUN
fbem-875	72	52	are	be	AUX
fbem-875	72	53	excluded	exclude	VERB
fbem-875	72	54	.	.	PUNCT
fbem-875	73	1	third	third	ADV
fbem-875	73	2	,	,	PUNCT
fbem-875	73	3	exclude	exclude	VERB
fbem-875	73	4	st	st	PROPN
fbem-875	73	5	and	and	CCONJ
fbem-875	73	6	other	other	ADJ
fbem-875	73	7	listed	list	VERB
fbem-875	73	8	companies	company	NOUN
fbem-875	73	9	that	that	PRON
fbem-875	73	10	are	be	AUX
fbem-875	73	11	specially	specially	ADV
fbem-875	73	12	treated	treat	VERB
fbem-875	73	13	;	;	PUNCT
fbem-875	73	14	fourth	fourth	X
fbem-875	73	15	,	,	PUNCT
fbem-875	73	16	the	the	DET
fbem-875	73	17	listed	list	VERB
fbem-875	73	18	companies	company	NOUN
fbem-875	73	19	that	that	PRON
fbem-875	73	20	have	have	AUX
fbem-875	73	21	not	not	PART
fbem-875	73	22	disclosed	disclose	VERB
fbem-875	73	23	or	or	CCONJ
fbem-875	73	24	not	not	PART
fbem-875	73	25	disclosed	disclose	VERB
fbem-875	73	26	the	the	DET
fbem-875	73	27	information	information	NOUN
fbem-875	73	28	of	of	ADP
fbem-875	73	29	relevant	relevant	ADJ
fbem-875	73	30	variables	variable	NOUN
fbem-875	73	31	are	be	AUX
fbem-875	73	32	excluded	exclude	VERB
fbem-875	73	33	.	.	PUNCT
fbem-875	74	1	in	in	ADP
fbem-875	74	2	order	order	NOUN
fbem-875	74	3	to	to	PART
fbem-875	74	4	eliminate	eliminate	VERB
fbem-875	74	5	the	the	DET
fbem-875	74	6	influence	influence	NOUN
fbem-875	74	7	of	of	ADP
fbem-875	74	8	extreme	extreme	ADJ
fbem-875	74	9	values	value	NOUN
fbem-875	74	10	,	,	PUNCT
fbem-875	74	11	all	all	DET
fbem-875	74	12	non	non	ADJ
fbem-875	74	13	-	-	ADJ
fbem-875	74	14	dummy	dummy	ADJ
fbem-875	74	15	variables	variable	NOUN
fbem-875	74	16	are	be	AUX
fbem-875	74	17	treated	treat	VERB
fbem-875	74	18	with	with	ADP
fbem-875	74	19	a	a	DET
fbem-875	74	20	1	1	NUM
fbem-875	74	21	%	%	NOUN
fbem-875	74	22	reduction	reduction	NOUN
fbem-875	74	23	at	at	ADP
fbem-875	74	24	the	the	DET
fbem-875	74	25	first	first	ADJ
fbem-875	74	26	and	and	CCONJ
fbem-875	74	27	last	last	ADJ
fbem-875	74	28	level	level	NOUN
fbem-875	74	29	.	.	PUNCT
fbem-875	75	1	the	the	DET
fbem-875	75	2	financial	financial	ADJ
fbem-875	75	3	data	datum	NOUN
fbem-875	75	4	of	of	ADP
fbem-875	75	5	this	this	DET
fbem-875	75	6	paper	paper	NOUN
fbem-875	75	7	comes	come	VERB
fbem-875	75	8	from	from	ADP
fbem-875	75	9	the	the	DET
fbem-875	75	10	database	database	NOUN
fbem-875	75	11	of	of	ADP
fbem-875	75	12	guotai	guotai	PROPN
fbem-875	75	13	'	'	PUNCT
fbem-875	75	14	an	an	DET
fbem-875	75	15	(	(	PUNCT
fbem-875	75	16	csmar	csmar	PROPN
fbem-875	75	17	)	)	PUNCT
fbem-875	75	18	,	,	PUNCT
fbem-875	75	19	and	and	CCONJ
fbem-875	75	20	the	the	DET
fbem-875	75	21	social	social	ADJ
fbem-875	75	22	responsibility	responsibility	NOUN
fbem-875	75	23	score	score	NOUN
fbem-875	75	24	data	datum	NOUN
fbem-875	75	25	are	be	AUX
fbem-875	75	26	obtained	obtain	VERB
fbem-875	75	27	by	by	ADP
fbem-875	75	28	manually	manually	ADV
fbem-875	75	29	sorting	sort	VERB
fbem-875	75	30	out	out	ADP
fbem-875	75	31	the	the	DET
fbem-875	75	32	data	datum	NOUN
fbem-875	75	33	of	of	ADP
fbem-875	75	34	the	the	DET
fbem-875	75	35	professional	professional	ADJ
fbem-875	75	36	evaluation	evaluation	NOUN
fbem-875	75	37	system	system	NOUN
fbem-875	75	38	of	of	ADP
fbem-875	75	39	the	the	DET
fbem-875	75	40	social	social	ADJ
fbem-875	75	41	responsibility	responsibility	NOUN
fbem-875	75	42	report	report	NOUN
fbem-875	75	43	of	of	ADP
fbem-875	75	44	listed	list	VERB
fbem-875	75	45	companies	company	NOUN
fbem-875	75	46	of	of	ADP
fbem-875	75	47	hexun.com	hexun.com	X
fbem-875	75	48	.	.	PUNCT
fbem-875	75	49	excel	excel	PROPN
fbem-875	75	50	and	and	CCONJ
fbem-875	75	51	stata15.0	stata15.0	ADJ
fbem-875	75	52	software	software	NOUN
fbem-875	75	53	are	be	AUX
fbem-875	75	54	used	use	VERB
fbem-875	75	55	to	to	PART
fbem-875	75	56	process	process	VERB
fbem-875	75	57	the	the	DET
fbem-875	75	58	above	above	ADJ
fbem-875	75	59	data	datum	NOUN
fbem-875	75	60	.	.	PUNCT
fbem-875	76	1	3.2	3.2	NUM
fbem-875	76	2	.	.	PUNCT
fbem-875	76	3	explanation	explanation	NOUN
fbem-875	76	4	of	of	ADP
fbem-875	76	5	variables	variable	NOUN
fbem-875	76	6	3.2.1	3.2.1	NUM
fbem-875	76	7	.	.	PUNCT
fbem-875	76	8	explained	explain	VERB
fbem-875	76	9	variable	variable	ADJ
fbem-875	76	10	business	business	NOUN
fbem-875	76	11	performance	performance	NOUN
fbem-875	76	12	(	(	PUNCT
fbem-875	76	13	roa).at	roa).at	NOUN
fbem-875	76	14	present	present	ADJ
fbem-875	76	15	,	,	PUNCT
fbem-875	76	16	the	the	DET
fbem-875	76	17	measurement	measurement	NOUN
fbem-875	76	18	indicators	indicator	NOUN
fbem-875	76	19	of	of	ADP
fbem-875	76	20	corporate	corporate	ADJ
fbem-875	76	21	performance	performance	NOUN
fbem-875	76	22	at	at	ADP
fbem-875	76	23	home	home	ADV
fbem-875	76	24	and	and	CCONJ
fbem-875	76	25	abroad	abroad	ADV
fbem-875	76	26	mainly	mainly	ADV
fbem-875	76	27	include	include	VERB
fbem-875	76	28	return	return	NOUN
fbem-875	76	29	on	on	ADP
fbem-875	76	30	total	total	ADJ
fbem-875	76	31	assets	asset	NOUN
fbem-875	76	32	(	(	PUNCT
fbem-875	76	33	net	net	ADJ
fbem-875	76	34	profit	profit	NOUN
fbem-875	76	35	/	/	SYM
fbem-875	76	36	average	average	ADJ
fbem-875	76	37	total	total	ADJ
fbem-875	76	38	assets	asset	NOUN
fbem-875	76	39	,	,	PUNCT
fbem-875	76	40	roa	roa	PROPN
fbem-875	76	41	)	)	PUNCT
fbem-875	76	42	,	,	PUNCT
fbem-875	76	43	return	return	VERB
fbem-875	76	44	on	on	ADP
fbem-875	76	45	equity	equity	NOUN
fbem-875	76	46	(	(	PUNCT
fbem-875	76	47	after	after	ADP
fbem-875	76	48	-	-	PUNCT
fbem-875	76	49	tax	tax	NOUN
fbem-875	76	50	profit	profit	NOUN
fbem-875	76	51	/	/	SYM
fbem-875	76	52	net	net	ADJ
fbem-875	76	53	assets	asset	NOUN
fbem-875	76	54	,	,	PUNCT
fbem-875	76	55	roe	roe	NOUN
fbem-875	76	56	)	)	PUNCT
fbem-875	76	57	,	,	PUNCT
fbem-875	76	58	tobin	tobin	PROPN
fbem-875	76	59	's	's	PART
fbem-875	76	60	q	q	NOUN
fbem-875	76	61	value	value	NOUN
fbem-875	76	62	(	(	PUNCT
fbem-875	76	63	market	market	NOUN
fbem-875	76	64	value	value	NOUN
fbem-875	76	65	/	/	SYM
fbem-875	76	66	asset	asset	NOUN
fbem-875	76	67	replacement	replacement	NOUN
fbem-875	76	68	cost).foreign	cost).foreign	NOUN
fbem-875	76	69	scholars	scholar	NOUN
fbem-875	76	70	generally	generally	ADV
fbem-875	76	71	use	use	VERB
fbem-875	76	72	tobin	tobin	NOUN
fbem-875	76	73	's	's	PART
fbem-875	76	74	q	q	NOUN
fbem-875	76	75	value	value	NOUN
fbem-875	76	76	to	to	PART
fbem-875	76	77	measure	measure	VERB
fbem-875	76	78	enterprise	enterprise	NOUN
fbem-875	76	79	value	value	NOUN
fbem-875	76	80	.	.	PUNCT
fbem-875	77	1	however	however	ADV
fbem-875	77	2	,	,	PUNCT
fbem-875	77	3	due	due	ADP
fbem-875	77	4	to	to	ADP
fbem-875	77	5	the	the	DET
fbem-875	77	6	immaturity	immaturity	NOUN
fbem-875	77	7	of	of	ADP
fbem-875	77	8	domestic	domestic	ADJ
fbem-875	77	9	capital	capital	NOUN
fbem-875	77	10	market	market	NOUN
fbem-875	77	11	,	,	PUNCT
fbem-875	77	12	market	market	NOUN
fbem-875	77	13	value	value	NOUN
fbem-875	77	14	and	and	CCONJ
fbem-875	77	15	asset	asset	NOUN
fbem-875	77	16	replacement	replacement	NOUN
fbem-875	77	17	cost	cost	NOUN
fbem-875	77	18	are	be	AUX
fbem-875	77	19	simply	simply	ADV
fbem-875	77	20	measured	measure	VERB
fbem-875	77	21	by	by	ADP
fbem-875	77	22	stock	stock	NOUN
fbem-875	77	23	price	price	NOUN
fbem-875	77	24	,	,	PUNCT
fbem-875	77	25	which	which	PRON
fbem-875	77	26	has	have	VERB
fbem-875	77	27	low	low	ADJ
fbem-875	77	28	reliability	reliability	NOUN
fbem-875	77	29	.	.	PUNCT
fbem-875	78	1	therefore	therefore	ADV
fbem-875	78	2	,	,	PUNCT
fbem-875	78	3	return	return	VERB
fbem-875	78	4	on	on	ADP
fbem-875	78	5	total	total	ADJ
fbem-875	78	6	assets	asset	NOUN
fbem-875	78	7	(	(	PUNCT
fbem-875	78	8	roa	roa	NOUN
fbem-875	78	9	)	)	PUNCT
fbem-875	78	10	is	be	AUX
fbem-875	78	11	selected	select	VERB
fbem-875	78	12	as	as	ADP
fbem-875	78	13	the	the	DET
fbem-875	78	14	index	index	NOUN
fbem-875	78	15	to	to	PART
fbem-875	78	16	measure	measure	VERB
fbem-875	78	17	the	the	DET
fbem-875	78	18	enterprise	enterprise	NOUN
fbem-875	78	19	performance	performance	NOUN
fbem-875	78	20	and	and	CCONJ
fbem-875	78	21	measure	measure	VERB
fbem-875	78	22	the	the	DET
fbem-875	78	23	overall	overall	ADJ
fbem-875	78	24	profitability	profitability	NOUN
fbem-875	78	25	of	of	ADP
fbem-875	78	26	the	the	DET
fbem-875	78	27	enterprise	enterprise	NOUN
fbem-875	78	28	,	,	PUNCT
fbem-875	78	29	and	and	CCONJ
fbem-875	78	30	return	return	VERB
fbem-875	78	31	on	on	ADP
fbem-875	78	32	equity	equity	NOUN
fbem-875	78	33	(	(	PUNCT
fbem-875	78	34	roe	roe	PROPN
fbem-875	78	35	)	)	PUNCT
fbem-875	78	36	is	be	AUX
fbem-875	78	37	its	its	PRON
fbem-875	78	38	substitute	substitute	ADJ
fbem-875	78	39	variable	variable	NOUN
fbem-875	78	40	.	.	PUNCT
fbem-875	79	1	3.2.2	3.2.2	NUM
fbem-875	79	2	.	.	PUNCT
fbem-875	80	1	explanatory	explanatory	ADJ
fbem-875	80	2	variables	variable	NOUN
fbem-875	80	3	asset	asset	NOUN
fbem-875	80	4	-	-	PUNCT
fbem-875	80	5	liability	liability	NOUN
fbem-875	80	6	ratio	ratio	NOUN
fbem-875	80	7	(	(	PUNCT
fbem-875	80	8	lev).the	lev).the	DET
fbem-875	80	9	debt	debt	NOUN
fbem-875	80	10	financing	financing	NOUN
fbem-875	80	11	degree	degree	NOUN
fbem-875	80	12	of	of	ADP
fbem-875	80	13	an	an	DET
fbem-875	80	14	enterprise	enterprise	NOUN
fbem-875	80	15	can	can	AUX
fbem-875	80	16	be	be	AUX
fbem-875	80	17	expressed	express	VERB
fbem-875	80	18	as	as	ADP
fbem-875	80	19	the	the	DET
fbem-875	80	20	leverage	leverage	NOUN
fbem-875	80	21	ratio	ratio	NOUN
fbem-875	80	22	of	of	ADP
fbem-875	80	23	the	the	DET
fbem-875	80	24	enterprise	enterprise	NOUN
fbem-875	80	25	.	.	PUNCT
fbem-875	81	1	the	the	DET
fbem-875	81	2	paper	paper	NOUN
fbem-875	81	3	draws	draw	VERB
fbem-875	81	4	on	on	ADP
fbem-875	81	5	the	the	DET
fbem-875	81	6	research	research	NOUN
fbem-875	81	7	of	of	ADP
fbem-875	81	8	long	long	ADJ
fbem-875	81	9	haiming	haiming	NOUN
fbem-875	81	10	and	and	CCONJ
fbem-875	81	11	hu	hu	PROPN
fbem-875	81	12	ming	ming	PROPN
fbem-875	81	13	(	(	PUNCT
fbem-875	81	14	2020	2020	NUM
fbem-875	81	15	)	)	PUNCT
fbem-875	81	16	and	and	CCONJ
fbem-875	81	17	adopts	adopt	VERB
fbem-875	81	18	the	the	DET
fbem-875	81	19	asset	asset	NOUN
fbem-875	81	20	-	-	PUNCT
fbem-875	81	21	liability	liability	NOUN
fbem-875	81	22	ratio	ratio	NOUN
fbem-875	81	23	of	of	ADP
fbem-875	81	24	the	the	DET
fbem-875	81	25	enterprise	enterprise	NOUN
fbem-875	81	26	to	to	PART
fbem-875	81	27	reflect	reflect	VERB
fbem-875	81	28	the	the	DET
fbem-875	81	29	leverage	leverage	NOUN
fbem-875	81	30	ratio	ratio	NOUN
fbem-875	81	31	of	of	ADP
fbem-875	81	32	the	the	DET
fbem-875	81	33	enterprise	enterprise	NOUN
fbem-875	81	34	and	and	CCONJ
fbem-875	81	35	reflect	reflect	VERB
fbem-875	81	36	the	the	DET
fbem-875	81	37	debt	debt	NOUN
fbem-875	81	38	degree	degree	NOUN
fbem-875	81	39	of	of	ADP
fbem-875	81	40	the	the	DET
fbem-875	81	41	enterprise	enterprise	NOUN
fbem-875	81	42	,	,	PUNCT
fbem-875	81	43	and	and	CCONJ
fbem-875	81	44	the	the	DET
fbem-875	81	45	data	data	NOUN
fbem-875	81	46	is	be	AUX
fbem-875	81	47	easy	easy	ADJ
fbem-875	81	48	to	to	PART
fbem-875	81	49	obtain	obtain	VERB
fbem-875	81	50	and	and	CCONJ
fbem-875	81	51	has	have	VERB
fbem-875	81	52	strong	strong	ADJ
fbem-875	81	53	comparability	comparability	NOUN
fbem-875	81	54	.	.	PUNCT
fbem-875	82	1	3.2.3	3.2.3	X
fbem-875	82	2	.	.	PUNCT
fbem-875	82	3	adjust	adjust	VERB
fbem-875	82	4	the	the	DET
fbem-875	82	5	variable	variable	ADJ
fbem-875	82	6	141	141	NUM
fbem-875	82	7	corporate	corporate	ADJ
fbem-875	82	8	social	social	ADJ
fbem-875	82	9	responsibility(csr).previous	responsibility(csr).previous	ADJ
fbem-875	82	10	scholars	scholar	NOUN
fbem-875	82	11	mainly	mainly	ADV
fbem-875	82	12	adopts	adopt	VERB
fbem-875	82	13	content	content	NOUN
fbem-875	82	14	analysis	analysis	NOUN
fbem-875	82	15	method	method	NOUN
fbem-875	82	16	and	and	CCONJ
fbem-875	82	17	the	the	DET
fbem-875	82	18	third	third	ADJ
fbem-875	82	19	party	party	NOUN
fbem-875	82	20	rating	rating	NOUN
fbem-875	82	21	method	method	NOUN
fbem-875	82	22	to	to	PART
fbem-875	82	23	measure	measure	VERB
fbem-875	82	24	the	the	DET
fbem-875	82	25	corporate	corporate	ADJ
fbem-875	82	26	social	social	ADJ
fbem-875	82	27	responsibility	responsibility	NOUN
fbem-875	82	28	,	,	PUNCT
fbem-875	82	29	but	but	CCONJ
fbem-875	82	30	the	the	DET
fbem-875	82	31	content	content	NOUN
fbem-875	82	32	analysis	analysis	NOUN
fbem-875	82	33	relies	rely	VERB
fbem-875	82	34	too	too	ADV
fbem-875	82	35	much	much	ADJ
fbem-875	82	36	on	on	ADP
fbem-875	82	37	subjective	subjective	ADJ
fbem-875	82	38	judgment	judgment	NOUN
fbem-875	82	39	,	,	PUNCT
fbem-875	82	40	in	in	ADP
fbem-875	82	41	order	order	NOUN
fbem-875	82	42	to	to	PART
fbem-875	82	43	eliminate	eliminate	VERB
fbem-875	82	44	the	the	DET
fbem-875	82	45	influence	influence	NOUN
fbem-875	82	46	of	of	ADP
fbem-875	82	47	subjective	subjective	ADJ
fbem-875	82	48	factors	factor	NOUN
fbem-875	82	49	for	for	ADP
fbem-875	82	50	final	final	ADJ
fbem-875	82	51	conclusion	conclusion	NOUN
fbem-875	82	52	,	,	PUNCT
fbem-875	82	53	this	this	DET
fbem-875	82	54	paper	paper	NOUN
fbem-875	82	55	fang	fang	X
fbem-875	82	56	-	-	PUNCT
fbem-875	82	57	zhao	zhao	PROPN
fbem-875	82	58	zhou	zhou	PROPN
fbem-875	82	59	,	,	PUNCT
fbem-875	82	60	jin	jin	PROPN
fbem-875	82	61	yuan	yuan	PROPN
fbem-875	82	62	culture(2020	culture(2020	PROPN
fbem-875	82	63	)	)	PUNCT
fbem-875	82	64	,	,	PUNCT
fbem-875	82	65	published	publish	VERB
fbem-875	82	66	by	by	ADP
fbem-875	82	67	the	the	DET
fbem-875	82	68	listed	list	VERB
fbem-875	82	69	company	company	NOUN
fbem-875	82	70	social	social	ADJ
fbem-875	82	71	responsibility	responsibility	NOUN
fbem-875	82	72	rating	rating	NOUN
fbem-875	82	73	of	of	ADP
fbem-875	82	74	hexun	hexun	NOUN
fbem-875	82	75	to	to	PART
fbem-875	82	76	represent	represent	VERB
fbem-875	82	77	corporate	corporate	ADJ
fbem-875	82	78	social	social	ADJ
fbem-875	82	79	responsibility	responsibility	NOUN
fbem-875	82	80	,	,	PUNCT
fbem-875	82	81	let	let	VERB
fbem-875	82	82	's	us	PRON
fbem-875	82	83	call	call	VERB
fbem-875	82	84	it	it	PRON
fbem-875	82	85	a	a	DET
fbem-875	82	86	csr.the	csr.the	DET
fbem-875	82	87	index	index	NOUN
fbem-875	82	88	is	be	AUX
fbem-875	82	89	composed	compose	VERB
fbem-875	82	90	of	of	ADP
fbem-875	82	91	five	five	NUM
fbem-875	82	92	dimensions	dimension	NOUN
fbem-875	82	93	:	:	PUNCT
fbem-875	82	94	shareholder	shareholder	NOUN
fbem-875	82	95	responsibility	responsibility	NOUN
fbem-875	82	96	,	,	PUNCT
fbem-875	82	97	employee	employee	NOUN
fbem-875	82	98	responsibility	responsibility	NOUN
fbem-875	82	99	,	,	PUNCT
fbem-875	82	100	supplier	supplier	NOUN
fbem-875	82	101	customer	customer	NOUN
fbem-875	82	102	and	and	CCONJ
fbem-875	82	103	consumer	consumer	NOUN
fbem-875	82	104	responsibility	responsibility	NOUN
fbem-875	82	105	,	,	PUNCT
fbem-875	82	106	environmental	environmental	ADJ
fbem-875	82	107	responsibility	responsibility	NOUN
fbem-875	82	108	and	and	CCONJ
fbem-875	82	109	social	social	ADJ
fbem-875	82	110	responsibility	responsibility	NOUN
fbem-875	82	111	(	(	PUNCT
fbem-875	82	112	charitable	charitable	ADJ
fbem-875	82	113	donation	donation	NOUN
fbem-875	82	114	responsibility	responsibility	NOUN
fbem-875	82	115	)	)	PUNCT
fbem-875	82	116	,	,	PUNCT
fbem-875	82	117	and	and	CCONJ
fbem-875	82	118	a	a	DET
fbem-875	82	119	comprehensive	comprehensive	ADJ
fbem-875	82	120	score	score	NOUN
fbem-875	82	121	representing	represent	VERB
fbem-875	82	122	corporate	corporate	ADJ
fbem-875	82	123	social	social	ADJ
fbem-875	82	124	responsibility	responsibility	NOUN
fbem-875	82	125	is	be	AUX
fbem-875	82	126	calculated	calculate	VERB
fbem-875	82	127	through	through	ADP
fbem-875	82	128	a	a	DET
fbem-875	82	129	certain	certain	ADJ
fbem-875	82	130	weighting.in	weighting.in	NUM
fbem-875	82	131	order	order	NOUN
fbem-875	82	132	to	to	PART
fbem-875	82	133	avoid	avoid	VERB
fbem-875	82	134	the	the	DET
fbem-875	82	135	impact	impact	NOUN
fbem-875	82	136	of	of	ADP
fbem-875	82	137	the	the	DET
fbem-875	82	138	range	range	NOUN
fbem-875	82	139	on	on	ADP
fbem-875	82	140	the	the	DET
fbem-875	82	141	results	result	NOUN
fbem-875	82	142	,	,	PUNCT
fbem-875	82	143	the	the	DET
fbem-875	82	144	comprehensive	comprehensive	ADJ
fbem-875	82	145	score	score	NOUN
fbem-875	82	146	of	of	ADP
fbem-875	82	147	corporate	corporate	ADJ
fbem-875	82	148	social	social	ADJ
fbem-875	82	149	responsibility	responsibility	NOUN
fbem-875	82	150	divided	divide	VERB
fbem-875	82	151	by	by	ADP
fbem-875	82	152	100	100	NUM
fbem-875	82	153	represents	represent	VERB
fbem-875	82	154	the	the	DET
fbem-875	82	155	variables	variable	NOUN
fbem-875	82	156	in	in	ADP
fbem-875	82	157	this	this	DET
fbem-875	82	158	paper	paper	NOUN
fbem-875	82	159	.	.	PUNCT
fbem-875	83	1	3.2.4	3.2.4	NUM
fbem-875	83	2	.	.	PUNCT
fbem-875	84	1	control	control	NOUN
fbem-875	84	2	variables	variable	NOUN
fbem-875	84	3	based	base	VERB
fbem-875	84	4	on	on	ADP
fbem-875	84	5	the	the	DET
fbem-875	84	6	research	research	NOUN
fbem-875	84	7	of	of	ADP
fbem-875	84	8	shi	shi	PROPN
fbem-875	84	9	min	min	PROPN
fbem-875	84	10	(	(	PUNCT
fbem-875	84	11	2017	2017	NUM
fbem-875	84	12	)	)	PUNCT
fbem-875	84	13	and	and	CCONJ
fbem-875	84	14	li	li	PROPN
fbem-875	84	15	shu	shu	PROPN
fbem-875	84	16	(	(	PUNCT
fbem-875	84	17	2014	2014	NUM
fbem-875	84	18	)	)	PUNCT
fbem-875	84	19	,	,	PUNCT
fbem-875	84	20	this	this	DET
fbem-875	84	21	paper	paper	NOUN
fbem-875	84	22	set	set	VERB
fbem-875	84	23	the	the	DET
fbem-875	84	24	following	follow	VERB
fbem-875	84	25	6	6	NUM
fbem-875	84	26	control	control	NOUN
fbem-875	84	27	variables	variable	NOUN
fbem-875	84	28	:	:	PUNCT
fbem-875	84	29	company	company	NOUN
fbem-875	84	30	size	size	NOUN
fbem-875	84	31	(	(	PUNCT
fbem-875	84	32	size	size	NOUN
fbem-875	84	33	)	)	PUNCT
fbem-875	84	34	,	,	PUNCT
fbem-875	84	35	total	total	ADJ
fbem-875	84	36	asset	asset	NOUN
fbem-875	84	37	turnover	turnover	NOUN
fbem-875	84	38	(	(	PUNCT
fbem-875	84	39	tato	tato	NOUN
fbem-875	84	40	)	)	PUNCT
fbem-875	84	41	,	,	PUNCT
fbem-875	84	42	capital	capital	NOUN
fbem-875	84	43	intensity	intensity	NOUN
fbem-875	84	44	(	(	PUNCT
fbem-875	84	45	capital	capital	NOUN
fbem-875	84	46	)	)	PUNCT
fbem-875	84	47	,	,	PUNCT
fbem-875	84	48	main	main	ADJ
fbem-875	84	49	business	business	NOUN
fbem-875	84	50	growth	growth	NOUN
fbem-875	84	51	rate	rate	NOUN
fbem-875	84	52	(	(	PUNCT
fbem-875	84	53	growth	growth	NOUN
fbem-875	84	54	)	)	PUNCT
fbem-875	84	55	,	,	PUNCT
fbem-875	84	56	shareholding	shareholding	NOUN
fbem-875	84	57	ratio	ratio	NOUN
fbem-875	84	58	of	of	ADP
fbem-875	84	59	top	top	ADJ
fbem-875	84	60	ten	ten	NUM
fbem-875	84	61	shareholders	shareholder	NOUN
fbem-875	84	62	(	(	PUNCT
fbem-875	84	63	h10	h10	PROPN
fbem-875	84	64	)	)	PUNCT
fbem-875	84	65	,	,	PUNCT
fbem-875	84	66	enterprise	enterprise	NOUN
fbem-875	84	67	nature	nature	NOUN
fbem-875	84	68	(	(	PUNCT
fbem-875	84	69	soe	soe	PROPN
fbem-875	84	70	)	)	PUNCT
fbem-875	84	71	,	,	PUNCT
fbem-875	84	72	industry	industry	NOUN
fbem-875	84	73	and	and	CCONJ
fbem-875	84	74	year	year	NOUN
fbem-875	84	75	.	.	PUNCT
fbem-875	85	1	to	to	PART
fbem-875	85	2	control	control	VERB
fbem-875	85	3	for	for	ADP
fbem-875	85	4	the	the	DET
fbem-875	85	5	effects	effect	NOUN
fbem-875	85	6	of	of	ADP
fbem-875	85	7	year	year	NOUN
fbem-875	85	8	and	and	CCONJ
fbem-875	85	9	industry	industry	NOUN
fbem-875	85	10	on	on	ADP
fbem-875	85	11	the	the	DET
fbem-875	85	12	regression	regression	NOUN
fbem-875	85	13	results	result	NOUN
fbem-875	85	14	.	.	PUNCT
fbem-875	86	1	the	the	DET
fbem-875	86	2	specific	specific	ADJ
fbem-875	86	3	definitions	definition	NOUN
fbem-875	86	4	of	of	ADP
fbem-875	86	5	the	the	DET
fbem-875	86	6	above	above	ADJ
fbem-875	86	7	variables	variable	NOUN
fbem-875	86	8	are	be	AUX
fbem-875	86	9	shown	show	VERB
fbem-875	86	10	in	in	ADP
fbem-875	86	11	table	table	NOUN
fbem-875	86	12	1	1	NUM
fbem-875	86	13	:	:	PUNCT
fbem-875	86	14	table	table	NOUN
fbem-875	86	15	1	1	NUM
fbem-875	86	16	.	.	PUNCT
fbem-875	86	17	primary	primary	ADJ
fbem-875	86	18	variable	variable	ADJ
fbem-875	86	19	definitions	definition	NOUN
fbem-875	86	20	variable	variable	ADJ
fbem-875	86	21	types	type	NOUN
fbem-875	86	22	the	the	DET
fbem-875	86	23	variable	variable	ADJ
fbem-875	86	24	name	name	NOUN
fbem-875	86	25	variable	variable	ADJ
fbem-875	86	26	symbol	symbol	NOUN
fbem-875	86	27	variable	variable	ADJ
fbem-875	86	28	declaration	declaration	NOUN
fbem-875	86	29	explained	explain	VERB
fbem-875	86	30	variable	variable	ADJ
fbem-875	86	31	return	return	NOUN
fbem-875	86	32	on	on	ADP
fbem-875	86	33	total	total	ADJ
fbem-875	86	34	assets	asset	NOUN
fbem-875	86	35	roa	roa	PROPN
fbem-875	86	36	net	net	ADJ
fbem-875	86	37	profit	profit	NOUN
fbem-875	86	38	/	/	SYM
fbem-875	86	39	total	total	ADJ
fbem-875	86	40	assets	asset	NOUN
fbem-875	86	41	explanatory	explanatory	ADJ
fbem-875	86	42	variables	variable	VERB
fbem-875	86	43	debt	debt	NOUN
fbem-875	86	44	financing	financing	NOUN
fbem-875	86	45	lev	lev	ADJ
fbem-875	86	46	total	total	ADJ
fbem-875	86	47	liabilities	liability	NOUN
fbem-875	86	48	/	/	SYM
fbem-875	86	49	total	total	ADJ
fbem-875	86	50	assets	asset	NOUN
fbem-875	86	51	adjust	adjust	VERB
fbem-875	86	52	the	the	DET
fbem-875	86	53	variable	variable	NOUN
fbem-875	86	54	the	the	DET
fbem-875	86	55	social	social	ADJ
fbem-875	86	56	responsibility	responsibility	NOUN
fbem-875	87	1	csr	csr	X
fbem-875	87	2	hexun.com	hexun.com	X
fbem-875	87	3	social	social	ADJ
fbem-875	87	4	responsibility	responsibility	NOUN
fbem-875	87	5	comprehensive	comprehensive	ADJ
fbem-875	87	6	score	score	NOUN
fbem-875	87	7	control	control	NOUN
fbem-875	87	8	variables	variable	VERB
fbem-875	87	9	the	the	DET
fbem-875	87	10	enterprise	enterprise	NOUN
fbem-875	87	11	scale	scale	NOUN
fbem-875	87	12	size	size	NOUN
fbem-875	87	13	number	number	NOUN
fbem-875	87	14	of	of	ADP
fbem-875	87	15	total	total	ADJ
fbem-875	87	16	assets	asset	NOUN
fbem-875	87	17	of	of	ADP
fbem-875	87	18	the	the	DET
fbem-875	87	19	enterprise	enterprise	NOUN
fbem-875	87	20	total	total	ADJ
fbem-875	87	21	asset	asset	NOUN
fbem-875	87	22	turnover	turnover	NOUN
fbem-875	87	23	tato	tato	NOUN
fbem-875	87	24	operating	operating	NOUN
fbem-875	87	25	income	income	NOUN
fbem-875	87	26	/	/	SYM
fbem-875	87	27	total	total	ADJ
fbem-875	87	28	average	average	ADJ
fbem-875	87	29	assets	asset	NOUN
fbem-875	87	30	degree	degree	NOUN
fbem-875	87	31	of	of	ADP
fbem-875	87	32	capital	capital	NOUN
fbem-875	87	33	intensity	intensity	NOUN
fbem-875	87	34	capital	capital	NOUN
fbem-875	87	35	fixed	fix	VERB
fbem-875	87	36	assets	asset	NOUN
fbem-875	87	37	/	/	SYM
fbem-875	87	38	total	total	ADJ
fbem-875	87	39	assets	asset	NOUN
fbem-875	87	40	growth	growth	NOUN
fbem-875	87	41	rate	rate	NOUN
fbem-875	87	42	of	of	ADP
fbem-875	87	43	main	main	ADJ
fbem-875	87	44	business	business	NOUN
fbem-875	87	45	growth	growth	NOUN
fbem-875	87	46	(	(	PUNCT
fbem-875	87	47	current	current	ADJ
fbem-875	87	48	period	period	NOUN
fbem-875	87	49	main	main	ADJ
fbem-875	87	50	business	business	NOUN
fbem-875	87	51	revenue	revenue	NOUN
fbem-875	87	52	last	last	ADJ
fbem-875	87	53	period	period	NOUN
fbem-875	87	54	main	main	ADJ
fbem-875	87	55	business	business	NOUN
fbem-875	87	56	revenue)/last	revenue)/last	ADJ
fbem-875	87	57	period	period	NOUN
fbem-875	87	58	main	main	ADJ
fbem-875	87	59	business	business	NOUN
fbem-875	87	60	revenue	revenue	NOUN
fbem-875	87	61	enterprise	enterprise	NOUN
fbem-875	87	62	nature	nature	NOUN
fbem-875	87	63	soe	soe	PROPN
fbem-875	87	64	the	the	DET
fbem-875	87	65	value	value	NOUN
fbem-875	87	66	is	be	AUX
fbem-875	87	67	1	1	NUM
fbem-875	87	68	for	for	ADP
fbem-875	87	69	state	state	NOUN
fbem-875	87	70	-	-	PUNCT
fbem-875	87	71	owned	own	VERB
fbem-875	87	72	enterprises	enterprise	NOUN
fbem-875	87	73	and	and	CCONJ
fbem-875	87	74	0	0	NUM
fbem-875	87	75	for	for	ADP
fbem-875	87	76	non	non	ADJ
fbem-875	87	77	-	-	ADJ
fbem-875	87	78	state	state	NOUN
fbem-875	87	79	-	-	PUNCT
fbem-875	87	80	owned	own	VERB
fbem-875	87	81	enterprises	enterprise	NOUN
fbem-875	87	82	shareholding	shareholde	VERB
fbem-875	87	83	ratio	ratio	NOUN
fbem-875	87	84	of	of	ADP
fbem-875	87	85	top	top	ADJ
fbem-875	87	86	10	10	NUM
fbem-875	87	87	shareholders	shareholder	NOUN
fbem-875	87	88	h10	h10	NOUN
fbem-875	87	89	represents	represent	VERB
fbem-875	87	90	management	management	NOUN
fbem-875	87	91	shareholding	shareholding	NOUN
fbem-875	87	92	status	status	NOUN
fbem-875	87	93	industry	industry	NOUN
fbem-875	87	94	industry	industry	NOUN
fbem-875	87	95	industry	industry	NOUN
fbem-875	87	96	dummy	dummy	ADJ
fbem-875	87	97	variable	variable	ADJ
fbem-875	87	98	year	year	NOUN
fbem-875	87	99	year	year	NOUN
fbem-875	87	100	annual	annual	ADJ
fbem-875	87	101	dummy	dummy	ADJ
fbem-875	87	102	variable	variable	NOUN
fbem-875	87	103	3.3	3.3	NUM
fbem-875	87	104	.	.	PUNCT
fbem-875	88	1	model	model	NOUN
fbem-875	88	2	construction	construction	NOUN
fbem-875	88	3	to	to	PART
fbem-875	88	4	test	test	VERB
fbem-875	88	5	the	the	DET
fbem-875	88	6	relationship	relationship	NOUN
fbem-875	88	7	between	between	ADP
fbem-875	88	8	hypothesis	hypothesis	NOUN
fbem-875	88	9	1	1	NUM
fbem-875	88	10	debt	debt	NOUN
fbem-875	88	11	financing	financing	NOUN
fbem-875	88	12	and	and	CCONJ
fbem-875	88	13	firm	firm	ADJ
fbem-875	88	14	performance	performance	NOUN
fbem-875	88	15	,	,	PUNCT
fbem-875	88	16	a	a	DET
fbem-875	88	17	model	model	NOUN
fbem-875	88	18	was	be	AUX
fbem-875	88	19	constructed	construct	VERB
fbem-875	88	20	(	(	PUNCT
fbem-875	88	21	1	1	NUM
fbem-875	88	22	)	)	PUNCT
fbem-875	88	23	:	:	PUNCT
fbem-875	88	24	roa	roa	PROPN
fbem-875	88	25	=	=	PROPN
fbem-875	88	26	α0+α1lev	α0+α1lev	PROPN
fbem-875	88	27	+	+	CCONJ
fbem-875	88	28	α2	α2	ADJ
fbem-875	88	29	size	size	NOUN
fbem-875	88	30	+	+	NOUN
fbem-875	88	31	α3tato	α3tato	NOUN
fbem-875	88	32	+	+	CCONJ
fbem-875	88	33	α4capital	α4capital	PROPN
fbem-875	88	34	+	+	PROPN
fbem-875	88	35	α5growth	α5growth	PROPN
fbem-875	88	36	+	+	CCONJ
fbem-875	88	37	α6soe	α6soe	PROPN
fbem-875	89	1	+	+	PROPN
fbem-875	89	2	α7	α7	NOUN
fbem-875	89	3	h10	h10	NOUN
fbem-875	89	4	+	+	PROPN
fbem-875	89	5	α8year	α8year	PROPN
fbem-875	89	6	+	+	PROPN
fbem-875	89	7	α9industry	α9industry	PROPN
fbem-875	89	8	+	+	NOUN
fbem-875	89	9	ε	ε	PROPN
fbem-875	89	10	.	.	PROPN
fbem-875	89	11	explained	explain	VERB
fbem-875	89	12	variable	variable	NOUN
fbem-875	89	13	is	be	AUX
fbem-875	89	14	roa	roa	NOUN
fbem-875	89	15	to	to	PART
fbem-875	89	16	measure	measure	VERB
fbem-875	89	17	enterprise	enterprise	NOUN
fbem-875	89	18	performance	performance	NOUN
fbem-875	89	19	,	,	PUNCT
fbem-875	89	20	and	and	CCONJ
fbem-875	89	21	explained	explain	VERB
fbem-875	89	22	variable	variable	ADJ
fbem-875	89	23	lev	lev	NOUN
fbem-875	89	24	is	be	AUX
fbem-875	89	25	the	the	DET
fbem-875	89	26	debt	debt	NOUN
fbem-875	89	27	financing	financing	NOUN
fbem-875	89	28	cost	cost	NOUN
fbem-875	89	29	of	of	ADP
fbem-875	89	30	the	the	DET
fbem-875	89	31	enterprise	enterprise	NOUN
fbem-875	89	32	.	.	PUNCT
fbem-875	90	1	if	if	SCONJ
fbem-875	90	2	lev	lev	NOUN
fbem-875	90	3	coefficient	coefficient	NOUN
fbem-875	90	4	is	be	AUX
fbem-875	90	5	negative	negative	ADJ
fbem-875	90	6	,	,	PUNCT
fbem-875	90	7	it	it	PRON
fbem-875	90	8	proves	prove	VERB
fbem-875	90	9	the	the	DET
fbem-875	90	10	negative	negative	ADJ
fbem-875	90	11	correlation	correlation	NOUN
fbem-875	90	12	between	between	ADP
fbem-875	90	13	the	the	DET
fbem-875	90	14	two	two	NUM
fbem-875	90	15	,	,	PUNCT
fbem-875	90	16	that	that	ADV
fbem-875	90	17	is	is	ADV
fbem-875	90	18	,	,	PUNCT
fbem-875	90	19	high	high	ADJ
fbem-875	90	20	debt	debt	NOUN
fbem-875	90	21	is	be	AUX
fbem-875	90	22	not	not	PART
fbem-875	90	23	conducive	conducive	ADJ
fbem-875	90	24	to	to	ADP
fbem-875	90	25	the	the	DET
fbem-875	90	26	improvement	improvement	NOUN
fbem-875	90	27	of	of	ADP
fbem-875	90	28	performance	performance	NOUN
fbem-875	90	29	.	.	PUNCT
fbem-875	91	1	in	in	ADP
fbem-875	91	2	order	order	NOUN
fbem-875	91	3	to	to	PART
fbem-875	91	4	test	test	VERB
fbem-875	91	5	hypothesis	hypothesis	NOUN
fbem-875	91	6	2	2	NUM
fbem-875	91	7	,	,	PUNCT
fbem-875	91	8	the	the	DET
fbem-875	91	9	relationship	relationship	NOUN
fbem-875	91	10	between	between	ADP
fbem-875	91	11	corporate	corporate	ADJ
fbem-875	91	12	social	social	ADJ
fbem-875	91	13	responsibility	responsibility	NOUN
fbem-875	91	14	and	and	CCONJ
fbem-875	91	15	corporate	corporate	ADJ
fbem-875	91	16	debt	debt	NOUN
fbem-875	91	17	financing	financing	NOUN
fbem-875	91	18	was	be	AUX
fbem-875	91	19	constructed	construct	VERB
fbem-875	91	20	(	(	PUNCT
fbem-875	91	21	2	2	NUM
fbem-875	91	22	)	)	PUNCT
fbem-875	91	23	:	:	PUNCT
fbem-875	91	24	lev	lev	NOUN
fbem-875	91	25	=	=	SYM
fbem-875	91	26	β0	β0	PROPN
fbem-875	91	27	+	+	CCONJ
fbem-875	91	28	β1csr	β1csr	PUNCT
fbem-875	92	1	+	+	ADJ
fbem-875	92	2	β2size	β2size	NOUN
fbem-875	92	3	+	+	CCONJ
fbem-875	92	4	β3igr	β3igr	PUNCT
fbem-875	93	1	+	+	CCONJ
fbem-875	93	2	β4capital	β4capital	ADJ
fbem-875	93	3	+	+	PUNCT
fbem-875	93	4	β5growth	β5growth	NOUN
fbem-875	93	5	+	+	NUM
fbem-875	93	6	β6soe	β6soe	PUNCT
fbem-875	94	1	+	+	CCONJ
fbem-875	94	2	β7the	β7the	DET
fbem-875	94	3	h10	h10	NOUN
fbem-875	94	4	+	+	CCONJ
fbem-875	94	5	β8year	β8year	NOUN
fbem-875	94	6	+	+	NOUN
fbem-875	94	7	β9industry	β9industry	NOUN
fbem-875	94	8	+	+	CCONJ
fbem-875	94	9	ε	ε	PROPN
fbem-875	94	10	.	.	PUNCT
fbem-875	95	1	the	the	DET
fbem-875	95	2	explained	explain	VERB
fbem-875	95	3	variable	variable	NOUN
fbem-875	95	4	is	be	AUX
fbem-875	95	5	lev	lev	NOUN
fbem-875	95	6	to	to	PART
fbem-875	95	7	measure	measure	VERB
fbem-875	95	8	the	the	DET
fbem-875	95	9	degree	degree	NOUN
fbem-875	95	10	of	of	ADP
fbem-875	95	11	corporate	corporate	ADJ
fbem-875	95	12	debt	debt	NOUN
fbem-875	95	13	financing	financing	NOUN
fbem-875	95	14	,	,	PUNCT
fbem-875	95	15	and	and	CCONJ
fbem-875	95	16	the	the	DET
fbem-875	95	17	explained	explain	VERB
fbem-875	95	18	variable	variable	NOUN
fbem-875	95	19	is	be	AUX
fbem-875	95	20	csr	csr	NOUN
fbem-875	95	21	to	to	PART
fbem-875	95	22	measure	measure	VERB
fbem-875	95	23	corporate	corporate	ADJ
fbem-875	95	24	social	social	ADJ
fbem-875	95	25	responsibility	responsibility	NOUN
fbem-875	95	26	.	.	PUNCT
fbem-875	96	1	if	if	SCONJ
fbem-875	96	2	the	the	DET
fbem-875	96	3	csr	csr	NOUN
fbem-875	96	4	coefficient	coefficient	NOUN
fbem-875	96	5	is	be	AUX
fbem-875	96	6	negative	negative	ADJ
fbem-875	96	7	,	,	PUNCT
fbem-875	96	8	it	it	PRON
fbem-875	96	9	proves	prove	VERB
fbem-875	96	10	the	the	DET
fbem-875	96	11	negative	negative	ADJ
fbem-875	96	12	correlation	correlation	NOUN
fbem-875	96	13	between	between	ADP
fbem-875	96	14	the	the	DET
fbem-875	96	15	two	two	NUM
fbem-875	96	16	,	,	PUNCT
fbem-875	96	17	that	that	ADV
fbem-875	96	18	is	is	ADV
fbem-875	96	19	,	,	PUNCT
fbem-875	96	20	corporate	corporate	ADJ
fbem-875	96	21	social	social	ADJ
fbem-875	96	22	responsibility	responsibility	NOUN
fbem-875	96	23	can	can	AUX
fbem-875	96	24	reduce	reduce	VERB
fbem-875	96	25	corporate	corporate	ADJ
fbem-875	96	26	debt	debt	NOUN
fbem-875	96	27	financing	financing	NOUN
fbem-875	96	28	.	.	PUNCT
fbem-875	97	1	in	in	ADP
fbem-875	97	2	order	order	NOUN
fbem-875	97	3	to	to	PART
fbem-875	97	4	test	test	VERB
fbem-875	97	5	the	the	DET
fbem-875	97	6	moderating	moderate	VERB
fbem-875	97	7	effect	effect	NOUN
fbem-875	97	8	of	of	ADP
fbem-875	97	9	hypothesis	hypothesis	NOUN
fbem-875	97	10	3	3	NUM
fbem-875	97	11	on	on	ADP
fbem-875	97	12	corporate	corporate	ADJ
fbem-875	97	13	debt	debt	NOUN
fbem-875	97	14	financing	financing	NOUN
fbem-875	97	15	and	and	CCONJ
fbem-875	97	16	corporate	corporate	ADJ
fbem-875	97	17	performance	performance	NOUN
fbem-875	97	18	,	,	PUNCT
fbem-875	97	19	a	a	DET
fbem-875	97	20	model	model	NOUN
fbem-875	97	21	was	be	AUX
fbem-875	97	22	constructed	construct	VERB
fbem-875	97	23	(	(	PUNCT
fbem-875	97	24	3	3	NUM
fbem-875	97	25	):	):	PUNCT
fbem-875	97	26	roa	roa	PROPN
fbem-875	97	27	=	=	PROPN
fbem-875	97	28	γ0+γ1lev	γ0+γ1lev	PROPN
fbem-875	97	29	+	+	CCONJ
fbem-875	97	30	γ2csr	γ2csr	NUM
fbem-875	98	1	+	+	CCONJ
fbem-875	98	2	γ3csr	γ3csr	NUM
fbem-875	98	3	×lev	×lev	NOUN
fbem-875	98	4	+	+	NOUN
fbem-875	98	5	γ4	γ4	ADJ
fbem-875	98	6	size	size	NOUN
fbem-875	98	7	+	+	CCONJ
fbem-875	98	8	γ5	γ5	NOUN
fbem-875	98	9	igr	igr	NOUN
fbem-875	98	10	+	+	NUM
fbem-875	98	11	γ6capital+	γ6capital+	NOUN
fbem-875	98	12	γ7growth	γ7growth	NOUN
fbem-875	98	13	+	+	CCONJ
fbem-875	98	14	γ8soe	γ8soe	PROPN
fbem-875	98	15	+	+	NOUN
fbem-875	98	16	γ9the	γ9the	DET
fbem-875	98	17	h10	h10	NOUN
fbem-875	98	18	+	+	NOUN
fbem-875	98	19	γ10year	γ10year	PROPN
fbem-875	98	20	+	+	CCONJ
fbem-875	98	21	γ11industry	γ11industry	PROPN
fbem-875	98	22	+	+	CCONJ
fbem-875	98	23	ε	ε	PROPN
fbem-875	98	24	.	.	PROPN
fbem-875	98	25	model	model	PROPN
fbem-875	98	26	(	(	PUNCT
fbem-875	98	27	3	3	X
fbem-875	98	28	)	)	PUNCT
fbem-875	98	29	adds	add	VERB
fbem-875	98	30	csr	csr	NOUN
fbem-875	98	31	and	and	CCONJ
fbem-875	98	32	interaction	interaction	NOUN
fbem-875	98	33	item	item	NOUN
fbem-875	98	34	csr×lev	csr×lev	NOUN
fbem-875	98	35	on	on	ADP
fbem-875	98	36	the	the	DET
fbem-875	98	37	basis	basis	NOUN
fbem-875	98	38	of	of	ADP
fbem-875	98	39	model	model	NOUN
fbem-875	98	40	(	(	PUNCT
fbem-875	98	41	1).if	1).if	INTJ
fbem-875	98	42	there	there	PRON
fbem-875	98	43	is	be	VERB
fbem-875	98	44	a	a	DET
fbem-875	98	45	negative	negative	ADJ
fbem-875	98	46	correlation	correlation	NOUN
fbem-875	98	47	between	between	ADP
fbem-875	98	48	lev	lev	NOUN
fbem-875	98	49	and	and	CCONJ
fbem-875	98	50	roa	roa	NOUN
fbem-875	98	51	in	in	ADP
fbem-875	98	52	model	model	NOUN
fbem-875	98	53	(	(	PUNCT
fbem-875	98	54	1	1	NUM
fbem-875	98	55	)	)	PUNCT
fbem-875	98	56	,	,	PUNCT
fbem-875	98	57	a	a	DET
fbem-875	98	58	negative	negative	ADJ
fbem-875	98	59	correlation	correlation	NOUN
fbem-875	98	60	between	between	ADP
fbem-875	98	61	csr	csr	NOUN
fbem-875	98	62	and	and	CCONJ
fbem-875	98	63	lev	lev	NOUN
fbem-875	98	64	in	in	ADP
fbem-875	98	65	model	model	NOUN
fbem-875	98	66	(	(	PUNCT
fbem-875	98	67	2	2	NUM
fbem-875	98	68	)	)	PUNCT
fbem-875	98	69	,	,	PUNCT
fbem-875	98	70	and	and	CCONJ
fbem-875	98	71	the	the	DET
fbem-875	98	72	coefficient	coefficient	NOUN
fbem-875	98	73	of	of	ADP
fbem-875	98	74	interaction	interaction	NOUN
fbem-875	98	75	item	item	NOUN
fbem-875	98	76	csr×lev	csr×lev	NOUN
fbem-875	98	77	in	in	ADP
fbem-875	98	78	model	model	NOUN
fbem-875	98	79	(	(	PUNCT
fbem-875	98	80	3	3	NUM
fbem-875	98	81	)	)	PUNCT
fbem-875	98	82	is	be	AUX
fbem-875	98	83	significantly	significantly	ADV
fbem-875	98	84	positive	positive	ADJ
fbem-875	98	85	,	,	PUNCT
fbem-875	98	86	it	it	PRON
fbem-875	98	87	indicates	indicate	VERB
fbem-875	98	88	that	that	SCONJ
fbem-875	98	89	corporate	corporate	ADJ
fbem-875	98	90	social	social	ADJ
fbem-875	98	91	responsibility	responsibility	NOUN
fbem-875	98	92	can	can	AUX
fbem-875	98	93	reduce	reduce	VERB
fbem-875	98	94	debt	debt	NOUN
fbem-875	98	95	financing	financing	NOUN
fbem-875	98	96	and	and	CCONJ
fbem-875	98	97	thus	thus	ADV
fbem-875	98	98	have	have	VERB
fbem-875	98	99	a	a	DET
fbem-875	98	100	positive	positive	ADJ
fbem-875	98	101	effect	effect	NOUN
fbem-875	98	102	on	on	ADP
fbem-875	98	103	performance	performance	NOUN
fbem-875	98	104	.	.	PUNCT
fbem-875	99	1	if	if	SCONJ
fbem-875	99	2	the	the	DET
fbem-875	99	3	coefficient	coefficient	NOUN
fbem-875	99	4	of	of	ADP
fbem-875	99	5	interaction	interaction	NOUN
fbem-875	99	6	term	term	NOUN
fbem-875	99	7	is	be	AUX
fbem-875	99	8	significantly	significantly	ADV
fbem-875	99	9	negative	negative	ADJ
fbem-875	99	10	,	,	PUNCT
fbem-875	99	11	it	it	PRON
fbem-875	99	12	indicates	indicate	VERB
fbem-875	99	13	that	that	SCONJ
fbem-875	99	14	corporate	corporate	ADJ
fbem-875	99	15	social	social	ADJ
fbem-875	99	16	responsibility	responsibility	NOUN
fbem-875	99	17	can	can	AUX
fbem-875	99	18	not	not	PART
fbem-875	99	19	alleviate	alleviate	VERB
fbem-875	99	20	the	the	DET
fbem-875	99	21	negative	negative	ADJ
fbem-875	99	22	correlation	correlation	NOUN
fbem-875	99	23	between	between	ADP
fbem-875	99	24	debt	debt	NOUN
fbem-875	99	25	financing	financing	NOUN
fbem-875	99	26	and	and	CCONJ
fbem-875	99	27	performance	performance	NOUN
fbem-875	99	28	.	.	PUNCT
fbem-875	100	1	if	if	SCONJ
fbem-875	100	2	the	the	DET
fbem-875	100	3	interaction	interaction	NOUN
fbem-875	100	4	term	term	NOUN
fbem-875	100	5	coefficient	coefficient	NOUN
fbem-875	100	6	is	be	AUX
fbem-875	100	7	not	not	PART
fbem-875	100	8	significant	significant	ADJ
fbem-875	100	9	,	,	PUNCT
fbem-875	100	10	it	it	PRON
fbem-875	100	11	indicates	indicate	VERB
fbem-875	100	12	that	that	SCONJ
fbem-875	100	13	the	the	DET
fbem-875	100	14	moderating	moderate	VERB
fbem-875	100	15	effect	effect	NOUN
fbem-875	100	16	of	of	ADP
fbem-875	100	17	corporate	corporate	ADJ
fbem-875	100	18	social	social	ADJ
fbem-875	100	19	responsibility	responsibility	NOUN
fbem-875	100	20	is	be	AUX
fbem-875	100	21	not	not	PART
fbem-875	100	22	significant	significant	ADJ
fbem-875	100	23	.	.	PUNCT
fbem-875	101	1	4	4	X
fbem-875	101	2	.	.	X
fbem-875	101	3	empirical	empirical	ADJ
fbem-875	101	4	analysis	analysis	NOUN
fbem-875	101	5	4.1	4.1	NUM
fbem-875	101	6	.	.	PUNCT
fbem-875	102	1	descriptive	descriptive	ADJ
fbem-875	102	2	statistics	statistic	NOUN
fbem-875	102	3	the	the	DET
fbem-875	102	4	descriptive	descriptive	ADJ
fbem-875	102	5	statistical	statistical	ADJ
fbem-875	102	6	results	result	NOUN
fbem-875	102	7	are	be	AUX
fbem-875	102	8	shown	show	VERB
fbem-875	102	9	in	in	ADP
fbem-875	102	10	table	table	NOUN
fbem-875	102	11	2	2	NUM
fbem-875	102	12	.	.	NUM
fbem-875	102	13	142	142	NUM
fbem-875	102	14	the	the	DET
fbem-875	102	15	average	average	ADJ
fbem-875	102	16	return	return	NOUN
fbem-875	102	17	on	on	ADP
fbem-875	102	18	total	total	ADJ
fbem-875	102	19	assets	asset	NOUN
fbem-875	102	20	of	of	ADP
fbem-875	102	21	china	china	PROPN
fbem-875	102	22	's	's	PART
fbem-875	102	23	shanghai	shanghai	PROPN
fbem-875	102	24	ashare	ashare	PROPN
fbem-875	102	25	listed	list	VERB
fbem-875	102	26	companies	company	NOUN
fbem-875	102	27	is	be	AUX
fbem-875	102	28	0.049	0.049	NUM
fbem-875	102	29	,	,	PUNCT
fbem-875	102	30	and	and	CCONJ
fbem-875	102	31	the	the	DET
fbem-875	102	32	standard	standard	ADJ
fbem-875	102	33	deviation	deviation	NOUN
fbem-875	102	34	is	be	AUX
fbem-875	102	35	0.072	0.072	NUM
fbem-875	102	36	,	,	PUNCT
fbem-875	102	37	indicating	indicate	VERB
fbem-875	102	38	that	that	SCONJ
fbem-875	102	39	the	the	DET
fbem-875	102	40	performance	performance	NOUN
fbem-875	102	41	level	level	NOUN
fbem-875	102	42	of	of	ADP
fbem-875	102	43	china	china	PROPN
fbem-875	102	44	's	's	PART
fbem-875	102	45	shanghai	shanghai	PROPN
fbem-875	102	46	and	and	CCONJ
fbem-875	102	47	shenzhen	shenzhen	PROPN
fbem-875	102	48	a	a	PROPN
fbem-875	102	49	-	-	PUNCT
fbem-875	102	50	share	share	NOUN
fbem-875	102	51	listed	list	VERB
fbem-875	102	52	companies	company	NOUN
fbem-875	102	53	is	be	AUX
fbem-875	102	54	generally	generally	ADV
fbem-875	102	55	good	good	ADJ
fbem-875	102	56	,	,	PUNCT
fbem-875	102	57	and	and	CCONJ
fbem-875	102	58	the	the	DET
fbem-875	102	59	development	development	NOUN
fbem-875	102	60	is	be	AUX
fbem-875	102	61	balanced	balanced	ADJ
fbem-875	102	62	.	.	PUNCT
fbem-875	103	1	the	the	DET
fbem-875	103	2	average	average	ADJ
fbem-875	103	3	assetliability	assetliability	NOUN
fbem-875	103	4	ratio	ratio	NOUN
fbem-875	103	5	of	of	ADP
fbem-875	103	6	enterprises	enterprise	NOUN
fbem-875	103	7	is	be	AUX
fbem-875	103	8	0.425	0.425	NUM
fbem-875	103	9	,	,	PUNCT
fbem-875	103	10	and	and	CCONJ
fbem-875	103	11	the	the	DET
fbem-875	103	12	median	median	NOUN
fbem-875	103	13	is	be	AUX
fbem-875	103	14	0.414	0.414	NUM
fbem-875	103	15	.	.	PUNCT
fbem-875	104	1	the	the	DET
fbem-875	104	2	large	large	ADJ
fbem-875	104	3	average	average	ADJ
fbem-875	104	4	asset	asset	NOUN
fbem-875	104	5	-	-	PUNCT
fbem-875	104	6	liability	liability	NOUN
fbem-875	104	7	ratio	ratio	NOUN
fbem-875	104	8	indicates	indicate	VERB
fbem-875	104	9	that	that	SCONJ
fbem-875	104	10	the	the	DET
fbem-875	104	11	debt	debt	NOUN
fbem-875	104	12	financing	financing	NOUN
fbem-875	104	13	scale	scale	NOUN
fbem-875	104	14	of	of	ADP
fbem-875	104	15	listed	list	VERB
fbem-875	104	16	companies	company	NOUN
fbem-875	104	17	in	in	ADP
fbem-875	104	18	china	china	PROPN
fbem-875	104	19	is	be	AUX
fbem-875	104	20	large	large	ADJ
fbem-875	104	21	,	,	PUNCT
fbem-875	104	22	and	and	CCONJ
fbem-875	104	23	the	the	DET
fbem-875	104	24	gap	gap	NOUN
fbem-875	104	25	between	between	ADP
fbem-875	104	26	the	the	DET
fbem-875	104	27	maximum	maximum	ADJ
fbem-875	104	28	value	value	NOUN
fbem-875	104	29	and	and	CCONJ
fbem-875	104	30	the	the	DET
fbem-875	104	31	minimum	minimum	ADJ
fbem-875	104	32	value	value	NOUN
fbem-875	104	33	is	be	AUX
fbem-875	104	34	large	large	ADJ
fbem-875	104	35	,	,	PUNCT
fbem-875	104	36	and	and	CCONJ
fbem-875	104	37	the	the	DET
fbem-875	104	38	borrowing	borrowing	NOUN
fbem-875	104	39	scale	scale	NOUN
fbem-875	104	40	of	of	ADP
fbem-875	104	41	different	different	ADJ
fbem-875	104	42	enterprises	enterprise	NOUN
fbem-875	104	43	is	be	AUX
fbem-875	104	44	different	different	ADJ
fbem-875	104	45	.	.	PUNCT
fbem-875	105	1	the	the	DET
fbem-875	105	2	average	average	ADJ
fbem-875	105	3	score	score	NOUN
fbem-875	105	4	of	of	ADP
fbem-875	105	5	csr	csr	NOUN
fbem-875	105	6	is	be	AUX
fbem-875	105	7	0.217	0.217	NUM
fbem-875	105	8	,	,	PUNCT
fbem-875	105	9	and	and	CCONJ
fbem-875	105	10	its	its	PRON
fbem-875	105	11	corresponding	correspond	VERB
fbem-875	105	12	grade	grade	NOUN
fbem-875	105	13	is	be	AUX
fbem-875	105	14	d	d	NOUN
fbem-875	105	15	in	in	ADP
fbem-875	105	16	hexun	hexun	PROPN
fbem-875	105	17	.	.	PUNCT
fbem-875	106	1	com	com	PROPN
fbem-875	106	2	's	's	PART
fbem-875	106	3	comprehensive	comprehensive	ADJ
fbem-875	106	4	social	social	ADJ
fbem-875	106	5	responsibility	responsibility	NOUN
fbem-875	106	6	scoring	scoring	NOUN
fbem-875	106	7	system	system	NOUN
fbem-875	106	8	,	,	PUNCT
fbem-875	106	9	with	with	ADP
fbem-875	106	10	a	a	DET
fbem-875	106	11	median	median	NOUN
fbem-875	106	12	of	of	ADP
fbem-875	106	13	0.214	0.214	NUM
fbem-875	106	14	,	,	PUNCT
fbem-875	106	15	indicating	indicate	VERB
fbem-875	106	16	that	that	SCONJ
fbem-875	106	17	more	more	ADJ
fbem-875	106	18	than	than	ADP
fbem-875	106	19	half	half	NOUN
fbem-875	106	20	of	of	ADP
fbem-875	106	21	china	china	PROPN
fbem-875	106	22	's	's	PART
fbem-875	106	23	a	a	DET
fbem-875	106	24	-	-	PUNCT
fbem-875	106	25	share	share	NOUN
fbem-875	106	26	listed	list	VERB
fbem-875	106	27	companies	company	NOUN
fbem-875	106	28	in	in	ADP
fbem-875	106	29	shanghai	shanghai	PROPN
fbem-875	106	30	and	and	CCONJ
fbem-875	106	31	shenzhen	shenzhen	PROPN
fbem-875	106	32	have	have	VERB
fbem-875	106	33	a	a	DET
fbem-875	106	34	corporate	corporate	ADJ
fbem-875	106	35	social	social	ADJ
fbem-875	106	36	responsibility	responsibility	NOUN
fbem-875	106	37	score	score	NOUN
fbem-875	106	38	of	of	ADP
fbem-875	106	39	d	d	NOUN
fbem-875	106	40	or	or	CCONJ
fbem-875	106	41	below	below	ADV
fbem-875	106	42	,	,	PUNCT
fbem-875	106	43	and	and	CCONJ
fbem-875	106	44	they	they	PRON
fbem-875	106	45	do	do	AUX
fbem-875	106	46	not	not	PART
fbem-875	106	47	pay	pay	VERB
fbem-875	106	48	enough	enough	ADJ
fbem-875	106	49	attention	attention	NOUN
fbem-875	106	50	to	to	ADP
fbem-875	106	51	social	social	ADJ
fbem-875	106	52	responsibility	responsibility	NOUN
fbem-875	106	53	.	.	PUNCT
fbem-875	107	1	enterprises	enterprise	NOUN
fbem-875	107	2	do	do	AUX
fbem-875	107	3	not	not	PART
fbem-875	107	4	pay	pay	VERB
fbem-875	107	5	attention	attention	NOUN
fbem-875	107	6	to	to	ADP
fbem-875	107	7	social	social	ADJ
fbem-875	107	8	responsibility	responsibility	NOUN
fbem-875	107	9	;	;	PUNCT
fbem-875	107	10	the	the	DET
fbem-875	107	11	standard	standard	ADJ
fbem-875	107	12	deviation	deviation	NOUN
fbem-875	107	13	is	be	AUX
fbem-875	107	14	as	as	ADV
fbem-875	107	15	high	high	ADJ
fbem-875	107	16	as	as	ADP
fbem-875	107	17	0.129	0.129	NUM
fbem-875	107	18	,	,	PUNCT
fbem-875	107	19	and	and	CCONJ
fbem-875	107	20	there	there	PRON
fbem-875	107	21	is	be	VERB
fbem-875	107	22	a	a	DET
fbem-875	107	23	significant	significant	ADJ
fbem-875	107	24	difference	difference	NOUN
fbem-875	107	25	in	in	ADP
fbem-875	107	26	the	the	DET
fbem-875	107	27	overall	overall	ADJ
fbem-875	107	28	score	score	NOUN
fbem-875	107	29	of	of	ADP
fbem-875	107	30	corporate	corporate	ADJ
fbem-875	107	31	social	social	ADJ
fbem-875	107	32	responsibility	responsibility	NOUN
fbem-875	107	33	.	.	PUNCT
fbem-875	108	1	therefore	therefore	ADV
fbem-875	108	2	,	,	PUNCT
fbem-875	108	3	enterprises	enterprise	NOUN
fbem-875	108	4	need	need	VERB
fbem-875	108	5	to	to	PART
fbem-875	108	6	further	far	ADV
fbem-875	108	7	strengthen	strengthen	VERB
fbem-875	108	8	their	their	PRON
fbem-875	108	9	emphasis	emphasis	NOUN
fbem-875	108	10	on	on	ADP
fbem-875	108	11	corporate	corporate	ADJ
fbem-875	108	12	social	social	ADJ
fbem-875	108	13	responsibility	responsibility	NOUN
fbem-875	108	14	.	.	PUNCT
fbem-875	109	1	table	table	NOUN
fbem-875	109	2	2	2	NUM
fbem-875	109	3	.	.	PUNCT
fbem-875	109	4	statistical	statistical	ADJ
fbem-875	109	5	table	table	NOUN
fbem-875	109	6	of	of	ADP
fbem-875	109	7	variable	variable	ADJ
fbem-875	109	8	description	description	NOUN
fbem-875	109	9	variable	variable	ADJ
fbem-875	109	10	sample	sample	NOUN
fbem-875	109	11	size	size	NOUN
fbem-875	109	12	the	the	DET
fbem-875	109	13	median	median	NOUN
fbem-875	109	14	the	the	DET
fbem-875	109	15	mean	mean	VERB
fbem-875	109	16	the	the	DET
fbem-875	109	17	standard	standard	ADJ
fbem-875	109	18	deviation	deviation	NOUN
fbem-875	109	19	the	the	DET
fbem-875	109	20	minimum	minimum	ADJ
fbem-875	109	21	value	value	NOUN
fbem-875	109	22	the	the	DET
fbem-875	109	23	maximum	maximum	ADJ
fbem-875	109	24	roa	roa	NOUN
fbem-875	110	1	14287.000	14287.000	NUM
fbem-875	110	2	0.050	0.050	NUM
fbem-875	110	3	0.049	0.049	NUM
fbem-875	110	4	0.072	0.072	NUM
fbem-875	110	5	0.330	0.330	NUM
fbem-875	110	6	0.229	0.229	NUM
fbem-875	110	7	lev	lev	NOUN
fbem-875	110	8	14287.000	14287.000	NUM
fbem-875	110	9	0.414	0.414	NUM
fbem-875	110	10	0.425	0.425	NUM
fbem-875	110	11	0.203	0.203	NUM
fbem-875	110	12	0.062	0.062	NUM
fbem-875	110	13	0.922	0.922	NUM
fbem-875	110	14	csr	csr	X
fbem-875	110	15	14287.000	14287.000	NUM
fbem-875	110	16	0.214	0.214	NUM
fbem-875	110	17	0.217	0.217	NUM
fbem-875	110	18	0.129	0.129	NUM
fbem-875	110	19	0.044	0.044	NUM
fbem-875	110	20	0.704	0.704	NUM
fbem-875	110	21	size	size	NOUN
fbem-875	110	22	14287.000	14287.000	NUM
fbem-875	110	23	22.153	22.153	NUM
fbem-875	110	24	22.312	22.312	NUM
fbem-875	110	25	1.287	1.287	NUM
fbem-875	110	26	19.974	19.974	NUM
fbem-875	110	27	26.245	26.245	NUM
fbem-875	110	28	growth	growth	NOUN
fbem-875	111	1	14287.000	14287.000	NUM
fbem-875	111	2	0.106	0.106	NUM
fbem-875	111	3	0.191	0.191	NUM
fbem-875	111	4	0.478	0.478	NUM
fbem-875	111	5	0.579	0.579	NUM
fbem-875	111	6	3.240	3.240	NUM
fbem-875	111	7	capital	capital	NOUN
fbem-875	111	8	14287.000	14287.000	NUM
fbem-875	111	9	0.174	0.174	NUM
fbem-875	111	10	0.208	0.208	NUM
fbem-875	111	11	0.161	0.161	NUM
fbem-875	111	12	0.002	0.002	NUM
fbem-875	111	13	0.700	0.700	NUM
fbem-875	111	14	tato	tato	NOUN
fbem-875	111	15	14287.000	14287.000	NUM
fbem-875	111	16	0.530	0.530	NUM
fbem-875	111	17	0.620	0.620	NUM
fbem-875	111	18	0.414	0.414	NUM
fbem-875	111	19	0.069	0.069	NUM
fbem-875	111	20	2.480	2.480	NUM
fbem-875	111	21	h10	h10	NOUN
fbem-875	111	22	14287.000	14287.000	NUM
fbem-875	111	23	59.520	59.520	NUM
fbem-875	111	24	58.655	58.655	NUM
fbem-875	111	25	14.708	14.708	NUM
fbem-875	111	26	24.370	24.370	NUM
fbem-875	111	27	90.170	90.170	NUM
fbem-875	111	28	soe	soe	PROPN
fbem-875	111	29	14287.000	14287.000	NUM
fbem-875	111	30	0.000	0.000	NUM
fbem-875	111	31	0.345	0.345	NUM
fbem-875	111	32	0.475	0.475	NUM
fbem-875	111	33	0.000	0.000	NUM
fbem-875	111	34	1.000	1.000	NUM
fbem-875	111	35	4.2	4.2	NUM
fbem-875	111	36	.	.	PUNCT
fbem-875	112	1	correlation	correlation	NOUN
fbem-875	112	2	analysis	analysis	NOUN
fbem-875	112	3	it	it	PRON
fbem-875	112	4	can	can	AUX
fbem-875	112	5	be	be	AUX
fbem-875	112	6	seen	see	VERB
fbem-875	112	7	from	from	ADP
fbem-875	112	8	table	table	NOUN
fbem-875	112	9	3	3	NUM
fbem-875	112	10	that	that	SCONJ
fbem-875	112	11	debt	debt	NOUN
fbem-875	112	12	financing	financing	NOUN
fbem-875	112	13	has	have	VERB
fbem-875	112	14	a	a	DET
fbem-875	112	15	significant	significant	ADJ
fbem-875	112	16	negative	negative	ADJ
fbem-875	112	17	correlation	correlation	NOUN
fbem-875	112	18	with	with	ADP
fbem-875	112	19	corporate	corporate	ADJ
fbem-875	112	20	performance	performance	NOUN
fbem-875	112	21	at	at	ADP
fbem-875	112	22	the	the	DET
fbem-875	112	23	significance	significance	NOUN
fbem-875	112	24	level	level	NOUN
fbem-875	112	25	of	of	ADP
fbem-875	112	26	1	1	NUM
fbem-875	112	27	%	%	NOUN
fbem-875	112	28	,	,	PUNCT
fbem-875	112	29	and	and	CCONJ
fbem-875	112	30	the	the	DET
fbem-875	112	31	improvement	improvement	NOUN
fbem-875	112	32	of	of	ADP
fbem-875	112	33	corporate	corporate	ADJ
fbem-875	112	34	debt	debt	NOUN
fbem-875	112	35	financing	financing	NOUN
fbem-875	112	36	will	will	AUX
fbem-875	112	37	hinder	hinder	VERB
fbem-875	112	38	the	the	DET
fbem-875	112	39	improvement	improvement	NOUN
fbem-875	112	40	of	of	ADP
fbem-875	112	41	corporate	corporate	ADJ
fbem-875	112	42	performance	performance	NOUN
fbem-875	112	43	.	.	PUNCT
fbem-875	113	1	hypothesis	hypothesis	NOUN
fbem-875	113	2	1	1	NUM
fbem-875	113	3	has	have	AUX
fbem-875	113	4	been	be	AUX
fbem-875	113	5	preliminarily	preliminarily	ADV
fbem-875	113	6	verified	verify	VERB
fbem-875	113	7	.	.	PUNCT
fbem-875	114	1	the	the	DET
fbem-875	114	2	correlation	correlation	NOUN
fbem-875	114	3	coefficient	coefficient	NOUN
fbem-875	114	4	between	between	ADP
fbem-875	114	5	corporate	corporate	ADJ
fbem-875	114	6	social	social	ADJ
fbem-875	114	7	responsibility	responsibility	NOUN
fbem-875	114	8	evaluation	evaluation	NOUN
fbem-875	114	9	and	and	CCONJ
fbem-875	114	10	debt	debt	NOUN
fbem-875	114	11	financing	financing	NOUN
fbem-875	114	12	cost	cost	NOUN
fbem-875	114	13	is	be	AUX
fbem-875	114	14	-0.093	-0.093	NOUN
fbem-875	114	15	,	,	PUNCT
fbem-875	114	16	which	which	PRON
fbem-875	114	17	has	have	VERB
fbem-875	114	18	a	a	DET
fbem-875	114	19	significant	significant	ADJ
fbem-875	114	20	negative	negative	ADJ
fbem-875	114	21	correlation	correlation	NOUN
fbem-875	114	22	at	at	ADP
fbem-875	114	23	the	the	DET
fbem-875	114	24	level	level	NOUN
fbem-875	114	25	of	of	ADP
fbem-875	114	26	1%.the	1%.the	DET
fbem-875	114	27	correlation	correlation	NOUN
fbem-875	114	28	coefficient	coefficient	NOUN
fbem-875	114	29	between	between	ADP
fbem-875	114	30	corporate	corporate	ADJ
fbem-875	114	31	social	social	ADJ
fbem-875	114	32	responsibility	responsibility	NOUN
fbem-875	114	33	and	and	CCONJ
fbem-875	114	34	corporate	corporate	ADJ
fbem-875	114	35	performance	performance	NOUN
fbem-875	114	36	is	be	AUX
fbem-875	114	37	0.501	0.501	NUM
fbem-875	114	38	,	,	PUNCT
fbem-875	114	39	showing	show	VERB
fbem-875	114	40	a	a	DET
fbem-875	114	41	significant	significant	ADJ
fbem-875	114	42	positive	positive	ADJ
fbem-875	114	43	correlation	correlation	NOUN
fbem-875	114	44	between	between	ADP
fbem-875	114	45	the	the	DET
fbem-875	114	46	two	two	NUM
fbem-875	114	47	,	,	PUNCT
fbem-875	114	48	which	which	PRON
fbem-875	114	49	preliminarily	preliminarily	ADV
fbem-875	114	50	indicates	indicate	VERB
fbem-875	114	51	that	that	SCONJ
fbem-875	114	52	corporate	corporate	ADJ
fbem-875	114	53	social	social	ADJ
fbem-875	114	54	responsibility	responsibility	NOUN
fbem-875	114	55	actively	actively	ADV
fbem-875	114	56	reduces	reduce	VERB
fbem-875	114	57	corporate	corporate	ADJ
fbem-875	114	58	debt	debt	NOUN
fbem-875	114	59	and	and	CCONJ
fbem-875	114	60	promotes	promote	VERB
fbem-875	114	61	the	the	DET
fbem-875	114	62	improvement	improvement	NOUN
fbem-875	114	63	of	of	ADP
fbem-875	114	64	corporate	corporate	ADJ
fbem-875	114	65	performance	performance	NOUN
fbem-875	114	66	.	.	PUNCT
fbem-875	115	1	the	the	DET
fbem-875	115	2	correlation	correlation	NOUN
fbem-875	115	3	between	between	ADP
fbem-875	115	4	other	other	ADJ
fbem-875	115	5	variables	variable	NOUN
fbem-875	115	6	of	of	ADP
fbem-875	115	7	the	the	DET
fbem-875	115	8	sample	sample	NOUN
fbem-875	115	9	is	be	AUX
fbem-875	115	10	small	small	ADJ
fbem-875	115	11	,	,	PUNCT
fbem-875	115	12	indicating	indicate	VERB
fbem-875	115	13	that	that	SCONJ
fbem-875	115	14	there	there	PRON
fbem-875	115	15	is	be	VERB
fbem-875	115	16	basically	basically	ADV
fbem-875	115	17	no	no	DET
fbem-875	115	18	multicollinearity	multicollinearity	NOUN
fbem-875	115	19	problem	problem	NOUN
fbem-875	115	20	,	,	PUNCT
fbem-875	115	21	and	and	CCONJ
fbem-875	115	22	the	the	DET
fbem-875	115	23	model	model	NOUN
fbem-875	115	24	can	can	AUX
fbem-875	115	25	be	be	AUX
fbem-875	115	26	regression	regression	NOUN
fbem-875	115	27	.	.	PUNCT
fbem-875	116	1	table	table	NOUN
fbem-875	116	2	3	3	NUM
fbem-875	116	3	.	.	PUNCT
fbem-875	116	4	correlation	correlation	NOUN
fbem-875	116	5	coefficients	coefficient	NOUN
fbem-875	116	6	roa	roa	PROPN
fbem-875	116	7	csr	csr	PROPN
fbem-875	116	8	lev	lev	NOUN
fbem-875	116	9	size	size	NOUN
fbem-875	116	10	growth	growth	NOUN
fbem-875	116	11	capital	capital	NOUN
fbem-875	116	12	tato	tato	PROPN
fbem-875	116	13	h10	h10	PROPN
fbem-875	116	14	soe	soe	PROPN
fbem-875	116	15	roa	roa	PROPN
fbem-875	116	16	1	1	NUM
fbem-875	116	17	csr	csr	X
fbem-875	116	18	0.501	0.501	NUM
fbem-875	116	19	*	*	PUNCT
fbem-875	117	1	*	*	PUNCT
fbem-875	117	2	*	*	PUNCT
fbem-875	117	3	1	1	NUM
fbem-875	117	4	lev	lev	NOUN
fbem-875	117	5	0.273	0.273	NUM
fbem-875	117	6	*	*	PUNCT
fbem-875	118	1	*	*	PUNCT
fbem-875	118	2	*	*	PUNCT
fbem-875	118	3	0.093	0.093	NUM
fbem-875	118	4	*	*	PUNCT
fbem-875	119	1	*	*	PUNCT
fbem-875	119	2	*	*	PUNCT
fbem-875	119	3	1.000	1.000	NUM
fbem-875	119	4	size	size	NOUN
fbem-875	119	5	0.056	0.056	NUM
fbem-875	119	6	*	*	PUNCT
fbem-875	120	1	*	*	PUNCT
fbem-875	121	1	*	*	PUNCT
fbem-875	121	2	0.229	0.229	NUM
fbem-875	121	3	*	*	PUNCT
fbem-875	122	1	*	*	PUNCT
fbem-875	123	1	*	*	PUNCT
fbem-875	123	2	0.510	0.510	NUM
fbem-875	123	3	*	*	PUNCT
fbem-875	124	1	*	*	PUNCT
fbem-875	124	2	*	*	PUNCT
fbem-875	124	3	1.000	1.000	NUM
fbem-875	124	4	growth	growth	NOUN
fbem-875	124	5	0.192	0.192	NUM
fbem-875	124	6	*	*	PUNCT
fbem-875	125	1	*	*	PUNCT
fbem-875	125	2	*	*	PUNCT
fbem-875	125	3	0.094	0.094	NUM
fbem-875	125	4	*	*	PUNCT
fbem-875	126	1	*	*	PUNCT
fbem-875	127	1	*	*	PUNCT
fbem-875	128	1	0.027	0.027	NUM
fbem-875	128	2	*	*	PUNCT
fbem-875	129	1	*	*	PUNCT
fbem-875	130	1	*	*	PUNCT
fbem-875	130	2	0.046	0.046	NUM
fbem-875	130	3	*	*	PUNCT
fbem-875	131	1	*	*	PUNCT
fbem-875	131	2	*	*	PUNCT
fbem-875	131	3	1.000	1.000	NUM
fbem-875	131	4	capital	capital	NOUN
fbem-875	131	5	0.013	0.013	NUM
fbem-875	131	6	0.079	0.079	NUM
fbem-875	131	7	*	*	PUNCT
fbem-875	132	1	*	*	PUNCT
fbem-875	133	1	*	*	PUNCT
fbem-875	133	2	0.054	0.054	NUM
fbem-875	133	3	*	*	PUNCT
fbem-875	134	1	*	*	PUNCT
fbem-875	135	1	*	*	PUNCT
fbem-875	135	2	0.086	0.086	NUM
fbem-875	135	3	*	*	PUNCT
fbem-875	136	1	*	*	PUNCT
fbem-875	136	2	*	*	PUNCT
fbem-875	136	3	0.094	0.094	NUM
fbem-875	136	4	*	*	PUNCT
fbem-875	137	1	*	*	PUNCT
fbem-875	137	2	*	*	PUNCT
fbem-875	137	3	1.000	1.000	NUM
fbem-875	137	4	tato	tato	NOUN
fbem-875	137	5	0.197	0.197	NUM
fbem-875	137	6	*	*	PUNCT
fbem-875	138	1	*	*	PUNCT
fbem-875	139	1	*	*	PUNCT
fbem-875	139	2	0.083	0.083	PUNCT
fbem-875	139	3	*	*	PUNCT
fbem-875	140	1	*	*	PUNCT
fbem-875	140	2	*	*	PUNCT
fbem-875	140	3	0.088	0.088	NUM
fbem-875	140	4	*	*	PUNCT
fbem-875	141	1	*	*	PUNCT
fbem-875	141	2	*	*	PUNCT
fbem-875	142	1	0.037	0.037	NUM
fbem-875	142	2	*	*	PUNCT
fbem-875	143	1	*	*	PUNCT
fbem-875	144	1	*	*	PUNCT
fbem-875	144	2	0.114	0.114	NUM
fbem-875	144	3	*	*	PUNCT
fbem-875	144	4	*	*	PUNCT
fbem-875	145	1	*	*	PUNCT
fbem-875	145	2	0.011	0.011	NUM
fbem-875	145	3	1.000	1.000	NUM
fbem-875	145	4	1	1	NUM
fbem-875	145	5	h10	h10	NOUN
fbem-875	145	6	0.222	0.222	NUM
fbem-875	145	7	*	*	PUNCT
fbem-875	146	1	*	*	PUNCT
fbem-875	147	1	*	*	PUNCT
fbem-875	147	2	0.186	0.186	NUM
fbem-875	147	3	*	*	PUNCT
fbem-875	148	1	*	*	PUNCT
fbem-875	148	2	*	*	PUNCT
fbem-875	148	3	0.062	0.062	NUM
fbem-875	148	4	*	*	PUNCT
fbem-875	149	1	*	*	PUNCT
fbem-875	150	1	*	*	PUNCT
fbem-875	150	2	0.150	0.150	NUM
fbem-875	150	3	*	*	PUNCT
fbem-875	151	1	*	*	PUNCT
fbem-875	152	1	*	*	PUNCT
fbem-875	152	2	0.092	0.092	NUM
fbem-875	152	3	*	*	PUNCT
fbem-875	153	1	*	*	PUNCT
fbem-875	153	2	*	*	PUNCT
fbem-875	154	1	0.023	0.023	NUM
fbem-875	154	2	*	*	PUNCT
fbem-875	155	1	*	*	PUNCT
fbem-875	156	1	*	*	PUNCT
fbem-875	157	1	0.080	0.080	NUM
fbem-875	157	2	*	*	PUNCT
fbem-875	157	3	*	*	PUNCT
fbem-875	157	4	*	*	PUNCT
fbem-875	157	5	1.000	1.000	NUM
fbem-875	157	6	soe	soe	PROPN
fbem-875	157	7	0.046	0.046	NUM
fbem-875	157	8	*	*	PUNCT
fbem-875	158	1	*	*	PUNCT
fbem-875	159	1	*	*	PUNCT
fbem-875	159	2	0.069	0.069	NUM
fbem-875	159	3	*	*	PUNCT
fbem-875	160	1	*	*	PUNCT
fbem-875	161	1	*	*	PUNCT
fbem-875	161	2	0.256	0.256	NUM
fbem-875	161	3	*	*	PUNCT
fbem-875	162	1	*	*	PUNCT
fbem-875	162	2	*	*	PUNCT
fbem-875	162	3	0.352	0.352	NUM
fbem-875	162	4	*	*	PUNCT
fbem-875	163	1	*	*	PUNCT
fbem-875	164	1	*	*	PUNCT
fbem-875	164	2	0.075	0.075	NUM
fbem-875	164	3	*	*	PUNCT
fbem-875	165	1	*	*	PUNCT
fbem-875	165	2	*	*	PUNCT
fbem-875	165	3	0.195	0.195	NUM
fbem-875	165	4	*	*	PUNCT
fbem-875	166	1	*	*	PUNCT
fbem-875	166	2	*	*	PUNCT
fbem-875	167	1	0.011	0.011	NUM
fbem-875	167	2	0.011	0.011	NUM
fbem-875	167	3	1.000	1.000	NUM
fbem-875	167	4	4.3	4.3	NUM
fbem-875	167	5	.	.	PUNCT
fbem-875	168	1	analysis	analysis	NOUN
fbem-875	168	2	of	of	ADP
fbem-875	168	3	regression	regression	NOUN
fbem-875	168	4	results	result	VERB
fbem-875	168	5	the	the	DET
fbem-875	168	6	data	data	NOUN
fbem-875	168	7	samples	sample	NOUN
fbem-875	168	8	in	in	ADP
fbem-875	168	9	this	this	DET
fbem-875	168	10	paper	paper	NOUN
fbem-875	168	11	were	be	AUX
fbem-875	168	12	non	non	ADJ
fbem-875	168	13	-	-	ADJ
fbem-875	168	14	balanced	balanced	ADJ
fbem-875	168	15	panel	panel	NOUN
fbem-875	168	16	data	datum	NOUN
fbem-875	168	17	.	.	PUNCT
fbem-875	169	1	ols	ol	NOUN
fbem-875	169	2	regression	regression	NOUN
fbem-875	169	3	and	and	CCONJ
fbem-875	169	4	fixed	fix	VERB
fbem-875	169	5	effect	effect	NOUN
fbem-875	169	6	regression	regression	NOUN
fbem-875	169	7	were	be	AUX
fbem-875	169	8	performed	perform	VERB
fbem-875	169	9	on	on	ADP
fbem-875	169	10	all	all	DET
fbem-875	169	11	models	model	NOUN
fbem-875	169	12	respectively	respectively	ADV
fbem-875	169	13	.	.	PUNCT
fbem-875	170	1	after	after	ADP
fbem-875	170	2	correlation	correlation	NOUN
fbem-875	170	3	analysis	analysis	NOUN
fbem-875	170	4	,	,	PUNCT
fbem-875	170	5	the	the	DET
fbem-875	170	6	fixed	fix	VERB
fbem-875	170	7	effect	effect	NOUN
fbem-875	170	8	model	model	NOUN
fbem-875	170	9	was	be	AUX
fbem-875	170	10	used	use	VERB
fbem-875	170	11	for	for	ADP
fbem-875	170	12	regression	regression	NOUN
fbem-875	170	13	in	in	ADP
fbem-875	170	14	this	this	DET
fbem-875	170	15	paper	paper	NOUN
fbem-875	170	16	.	.	PUNCT
fbem-875	171	1	regression	regression	NOUN
fbem-875	171	2	results	result	NOUN
fbem-875	171	3	as	as	SCONJ
fbem-875	171	4	shown	show	VERB
fbem-875	171	5	in	in	ADP
fbem-875	171	6	table	table	NOUN
fbem-875	171	7	4	4	NUM
fbem-875	171	8	,	,	PUNCT
fbem-875	171	9	as	as	SCONJ
fbem-875	171	10	you	you	PRON
fbem-875	171	11	can	can	AUX
fbem-875	171	12	see	see	VERB
fbem-875	171	13	,	,	PUNCT
fbem-875	171	14	the	the	DET
fbem-875	171	15	model	model	NOUN
fbem-875	171	16	1	1	NUM
fbem-875	171	17	shows	show	VERB
fbem-875	171	18	lev	lev	ADJ
fbem-875	171	19	regression	regression	NOUN
fbem-875	171	20	coefficients	coefficient	NOUN
fbem-875	171	21	of	of	ADP
fbem-875	171	22	roa	roa	PROPN
fbem-875	171	23	is	be	AUX
fbem-875	171	24	0.242	0.242	NUM
fbem-875	171	25	under	under	ADP
fbem-875	171	26	the	the	DET
fbem-875	171	27	1	1	NUM
fbem-875	171	28	%	%	NOUN
fbem-875	171	29	level	level	NOUN
fbem-875	171	30	significantly	significantly	ADV
fbem-875	171	31	,	,	PUNCT
fbem-875	171	32	regression	regression	NOUN
fbem-875	171	33	results	result	NOUN
fbem-875	171	34	show	show	VERB
fbem-875	171	35	that	that	SCONJ
fbem-875	171	36	the	the	DET
fbem-875	171	37	corporate	corporate	ADJ
fbem-875	171	38	debt	debt	NOUN
fbem-875	171	39	financing	financing	NOUN
fbem-875	171	40	and	and	CCONJ
fbem-875	171	41	corporate	corporate	ADJ
fbem-875	171	42	performance	performance	NOUN
fbem-875	171	43	show	show	VERB
fbem-875	171	44	significant	significant	ADJ
fbem-875	171	45	negative	negative	ADJ
fbem-875	171	46	correlation	correlation	NOUN
fbem-875	171	47	relationship	relationship	NOUN
fbem-875	171	48	,	,	PUNCT
fbem-875	171	49	established	establish	VERB
fbem-875	171	50	in	in	ADP
fbem-875	171	51	this	this	DET
fbem-875	171	52	paper	paper	NOUN
fbem-875	171	53	,	,	PUNCT
fbem-875	171	54	we	we	PRON
fbem-875	171	55	assume	assume	VERB
fbem-875	171	56	that	that	SCONJ
fbem-875	171	57	1	1	NUM
fbem-875	171	58	,	,	PUNCT
fbem-875	171	59	higher	high	ADJ
fbem-875	171	60	debt	debt	NOUN
fbem-875	171	61	financing	financing	NOUN
fbem-875	171	62	to	to	PART
fbem-875	171	63	make	make	VERB
fbem-875	171	64	enterprises	enterprise	NOUN
fbem-875	171	65	face	face	VERB
fbem-875	171	66	higher	high	ADJ
fbem-875	171	67	financial	financial	ADJ
fbem-875	171	68	and	and	CCONJ
fbem-875	171	69	operational	operational	ADJ
fbem-875	171	70	risks	risk	NOUN
fbem-875	171	71	,	,	PUNCT
fbem-875	171	72	therefore	therefore	ADV
fbem-875	171	73	,	,	PUNCT
fbem-875	171	74	other	other	ADJ
fbem-875	171	75	conditions	condition	NOUN
fbem-875	171	76	being	be	AUX
fbem-875	171	77	equal	equal	ADJ
fbem-875	171	78	,	,	PUNCT
fbem-875	171	79	low	low	ADJ
fbem-875	171	80	debt	debt	NOUN
fbem-875	171	81	financing	financing	NOUN
fbem-875	171	82	is	be	AUX
fbem-875	171	83	conducive	conducive	ADJ
fbem-875	171	84	to	to	ADP
fbem-875	171	85	the	the	DET
fbem-875	171	86	improvement	improvement	NOUN
fbem-875	171	87	of	of	ADP
fbem-875	171	88	corporate	corporate	ADJ
fbem-875	171	89	performance	performance	NOUN
fbem-875	171	90	.	.	PUNCT
fbem-875	172	1	it	it	PRON
fbem-875	172	2	can	can	AUX
fbem-875	172	3	be	be	AUX
fbem-875	172	4	seen	see	VERB
fbem-875	172	5	from	from	ADP
fbem-875	172	6	the	the	DET
fbem-875	172	7	second	second	ADJ
fbem-875	172	8	column	column	NOUN
fbem-875	172	9	of	of	ADP
fbem-875	172	10	table	table	NOUN
fbem-875	172	11	4	4	NUM
fbem-875	172	12	that	that	SCONJ
fbem-875	172	13	the	the	DET
fbem-875	172	14	overall	overall	ADJ
fbem-875	172	15	regression	regression	NOUN
fbem-875	172	16	results	result	NOUN
fbem-875	172	17	of	of	ADP
fbem-875	172	18	model	model	NOUN
fbem-875	172	19	2	2	NUM
fbem-875	172	20	are	be	AUX
fbem-875	172	21	significant	significant	ADJ
fbem-875	172	22	,	,	PUNCT
fbem-875	172	23	and	and	CCONJ
fbem-875	172	24	the	the	DET
fbem-875	172	25	regression	regression	NOUN
fbem-875	172	26	coefficient	coefficient	NOUN
fbem-875	172	27	of	of	ADP
fbem-875	172	28	csr	csr	NOUN
fbem-875	172	29	to	to	ADP
fbem-875	172	30	lev	lev	PROPN
fbem-875	172	31	shows	show	VERB
fbem-875	172	32	a	a	DET
fbem-875	172	33	significant	significant	ADJ
fbem-875	172	34	negative	negative	ADJ
fbem-875	172	35	correlation	correlation	NOUN
fbem-875	172	36	at	at	ADP
fbem-875	172	37	the	the	DET
fbem-875	172	38	level	level	NOUN
fbem-875	172	39	of	of	ADP
fbem-875	172	40	1	1	NUM
fbem-875	172	41	%	%	NOUN
fbem-875	172	42	.	.	PUNCT
fbem-875	173	1	therefore	therefore	ADV
fbem-875	173	2	,	,	PUNCT
fbem-875	173	3	a	a	DET
fbem-875	173	4	high	high	ADJ
fbem-875	173	5	social	social	ADJ
fbem-875	173	6	responsibility	responsibility	NOUN
fbem-875	173	7	score	score	NOUN
fbem-875	173	8	of	of	ADP
fbem-875	173	9	enterprises	enterprise	NOUN
fbem-875	173	10	is	be	AUX
fbem-875	173	11	conducive	conducive	ADJ
fbem-875	173	12	to	to	ADP
fbem-875	173	13	reducing	reduce	VERB
fbem-875	173	14	corporate	corporate	ADJ
fbem-875	173	15	debt	debt	NOUN
fbem-875	173	16	financing	financing	NOUN
fbem-875	173	17	,	,	PUNCT
fbem-875	173	18	which	which	PRON
fbem-875	173	19	proves	prove	VERB
fbem-875	173	20	hypothesis	hypothesis	NOUN
fbem-875	173	21	2	2	NUM
fbem-875	173	22	.	.	PUNCT
fbem-875	174	1	the	the	DET
fbem-875	174	2	third	third	ADJ
fbem-875	174	3	column	column	NOUN
fbem-875	174	4	of	of	ADP
fbem-875	174	5	table	table	NOUN
fbem-875	174	6	4	4	NUM
fbem-875	174	7	reveals	reveal	VERB
fbem-875	174	8	the	the	DET
fbem-875	174	9	regression	regression	NOUN
fbem-875	174	10	results	result	NOUN
fbem-875	174	11	when	when	SCONJ
fbem-875	174	12	social	social	ADJ
fbem-875	174	13	responsibility	responsibility	NOUN
fbem-875	174	14	is	be	AUX
fbem-875	174	15	used	use	VERB
fbem-875	174	16	as	as	ADP
fbem-875	174	17	a	a	DET
fbem-875	174	18	moderating	moderate	VERB
fbem-875	174	19	variable	variable	NOUN
fbem-875	174	20	.	.	PUNCT
fbem-875	175	1	the	the	DET
fbem-875	175	2	regression	regression	NOUN
fbem-875	175	3	coefficient	coefficient	NOUN
fbem-875	175	4	between	between	ADP
fbem-875	175	5	csr×lev	csr×lev	NOUN
fbem-875	175	6	and	and	CCONJ
fbem-875	175	7	roa	roa	PROPN
fbem-875	175	8	is	be	AUX
fbem-875	175	9	0.068	0.068	NUM
fbem-875	175	10	,	,	PUNCT
fbem-875	175	11	which	which	PRON
fbem-875	175	12	has	have	VERB
fbem-875	175	13	a	a	DET
fbem-875	175	14	significant	significant	ADJ
fbem-875	175	15	negative	negative	ADJ
fbem-875	175	16	correlation	correlation	NOUN
fbem-875	175	17	at	at	ADP
fbem-875	175	18	the	the	DET
fbem-875	175	19	1	1	NUM
fbem-875	175	20	%	%	NOUN
fbem-875	175	21	level	level	NOUN
fbem-875	175	22	,	,	PUNCT
fbem-875	175	23	indicating	indicate	VERB
fbem-875	175	24	that	that	SCONJ
fbem-875	175	25	when	when	SCONJ
fbem-875	175	26	enterprises	enterprise	NOUN
fbem-875	175	27	actively	actively	ADV
fbem-875	175	28	undertake	undertake	VERB
fbem-875	175	29	social	social	ADJ
fbem-875	175	30	responsibility	responsibility	NOUN
fbem-875	175	31	,	,	PUNCT
fbem-875	175	32	debt	debt	NOUN
fbem-875	175	33	financing	financing	NOUN
fbem-875	175	34	of	of	ADP
fbem-875	175	35	enterprises	enterprise	NOUN
fbem-875	175	36	is	be	AUX
fbem-875	175	37	lower	low	ADJ
fbem-875	175	38	,	,	PUNCT
fbem-875	175	39	which	which	PRON
fbem-875	175	40	also	also	ADV
fbem-875	175	41	promotes	promote	VERB
fbem-875	175	42	the	the	DET
fbem-875	175	43	improvement	improvement	NOUN
fbem-875	175	44	of	of	ADP
fbem-875	175	45	corporate	corporate	ADJ
fbem-875	175	46	performance	performance	NOUN
fbem-875	175	47	.	.	PUNCT
fbem-875	176	1	social	social	ADJ
fbem-875	176	2	responsibility	responsibility	NOUN
fbem-875	176	3	plays	play	VERB
fbem-875	176	4	a	a	DET
fbem-875	176	5	significant	significant	ADJ
fbem-875	176	6	moderating	moderate	VERB
fbem-875	176	7	role	role	NOUN
fbem-875	176	8	between	between	ADP
fbem-875	176	9	debt	debt	NOUN
fbem-875	176	10	financing	financing	NOUN
fbem-875	176	11	and	and	CCONJ
fbem-875	176	12	corporate	corporate	ADJ
fbem-875	176	13	performance	performance	NOUN
fbem-875	176	14	.	.	PUNCT
fbem-875	177	1	model	model	NOUN
fbem-875	177	2	3	3	NUM
fbem-875	177	3	other	other	ADJ
fbem-875	177	4	control	control	NOUN
fbem-875	177	5	variables	variable	NOUN
fbem-875	177	6	in	in	ADP
fbem-875	177	7	the	the	DET
fbem-875	177	8	regression	regression	NOUN
fbem-875	177	9	results	result	NOUN
fbem-875	177	10	show	show	VERB
fbem-875	177	11	that	that	SCONJ
fbem-875	177	12	the	the	DET
fbem-875	177	13	total	total	ADJ
fbem-875	177	14	asset	asset	NOUN
fbem-875	177	15	turnover	turnover	NOUN
fbem-875	177	16	,	,	PUNCT
fbem-875	177	17	enterprise	enterprise	NOUN
fbem-875	177	18	scale	scale	NOUN
fbem-875	177	19	,	,	PUNCT
fbem-875	177	20	main	main	ADJ
fbem-875	177	21	business	business	NOUN
fbem-875	177	22	growth	growth	NOUN
fbem-875	177	23	and	and	CCONJ
fbem-875	177	24	business	business	NOUN
fbem-875	177	25	performance	performance	NOUN
fbem-875	177	26	are	be	AUX
fbem-875	177	27	143	143	NUM
fbem-875	177	28	related	related	ADJ
fbem-875	177	29	,	,	PUNCT
fbem-875	177	30	fixed	fix	VERB
fbem-875	177	31	assets	asset	NOUN
fbem-875	177	32	ratio	ratio	NOUN
fbem-875	177	33	showed	show	VERB
fbem-875	177	34	significant	significant	ADJ
fbem-875	177	35	negative	negative	ADJ
fbem-875	177	36	correlation	correlation	NOUN
fbem-875	177	37	between	between	ADP
fbem-875	177	38	corporate	corporate	ADJ
fbem-875	177	39	performance	performance	NOUN
fbem-875	177	40	and	and	CCONJ
fbem-875	177	41	relationship	relationship	NOUN
fbem-875	177	42	,	,	PUNCT
fbem-875	177	43	so	so	SCONJ
fbem-875	177	44	enterprises	enterprise	NOUN
fbem-875	177	45	need	need	VERB
fbem-875	177	46	to	to	PART
fbem-875	177	47	attach	attach	VERB
fbem-875	177	48	importance	importance	NOUN
fbem-875	177	49	to	to	ADP
fbem-875	177	50	fixed	fix	VERB
fbem-875	177	51	assets	asset	NOUN
fbem-875	177	52	turnover	turnover	NOUN
fbem-875	177	53	speed	speed	NOUN
fbem-875	177	54	of	of	ADP
fbem-875	177	55	ascension	ascension	NOUN
fbem-875	177	56	,	,	PUNCT
fbem-875	177	57	and	and	CCONJ
fbem-875	177	58	the	the	DET
fbem-875	177	59	nature	nature	NOUN
fbem-875	177	60	of	of	ADP
fbem-875	177	61	enterprise	enterprise	NOUN
fbem-875	177	62	business	business	NOUN
fbem-875	177	63	performance	performance	NOUN
fbem-875	177	64	regression	regression	NOUN
fbem-875	177	65	result	result	NOUN
fbem-875	177	66	was	be	AUX
fbem-875	177	67	not	not	PART
fbem-875	177	68	significant	significant	ADJ
fbem-875	177	69	.	.	PUNCT
fbem-875	178	1	4.4	4.4	NUM
fbem-875	178	2	.	.	PUNCT
fbem-875	179	1	robustness	robustness	NOUN
fbem-875	179	2	test	test	NOUN
fbem-875	179	3	in	in	ADP
fbem-875	179	4	this	this	DET
fbem-875	179	5	paper	paper	NOUN
fbem-875	179	6	,	,	PUNCT
fbem-875	179	7	the	the	DET
fbem-875	179	8	stability	stability	NOUN
fbem-875	179	9	test	test	NOUN
fbem-875	179	10	was	be	AUX
fbem-875	179	11	conducted	conduct	VERB
fbem-875	179	12	by	by	ADP
fbem-875	179	13	substituting	substitute	VERB
fbem-875	179	14	variables	variable	NOUN
fbem-875	179	15	and	and	CCONJ
fbem-875	179	16	changing	change	VERB
fbem-875	179	17	sample	sample	NOUN
fbem-875	179	18	time	time	NOUN
fbem-875	179	19	intervals	interval	NOUN
fbem-875	179	20	,	,	PUNCT
fbem-875	179	21	and	and	CCONJ
fbem-875	179	22	the	the	DET
fbem-875	179	23	fixed	fix	VERB
fbem-875	179	24	effect	effect	NOUN
fbem-875	179	25	model	model	NOUN
fbem-875	179	26	was	be	AUX
fbem-875	179	27	used	use	VERB
fbem-875	179	28	for	for	ADP
fbem-875	179	29	regression	regression	NOUN
fbem-875	179	30	.	.	PUNCT
fbem-875	180	1	the	the	DET
fbem-875	180	2	return	return	NOUN
fbem-875	180	3	on	on	ADP
fbem-875	180	4	equity	equity	NOUN
fbem-875	180	5	of	of	ADP
fbem-875	180	6	an	an	DET
fbem-875	180	7	enterprise	enterprise	NOUN
fbem-875	180	8	can	can	AUX
fbem-875	180	9	reflect	reflect	VERB
fbem-875	180	10	its	its	PRON
fbem-875	180	11	ability	ability	NOUN
fbem-875	180	12	to	to	PART
fbem-875	180	13	create	create	VERB
fbem-875	180	14	net	net	ADJ
fbem-875	180	15	assets	asset	NOUN
fbem-875	180	16	through	through	ADP
fbem-875	180	17	capital	capital	NOUN
fbem-875	180	18	.	.	PUNCT
fbem-875	181	1	the	the	DET
fbem-875	181	2	return	return	NOUN
fbem-875	181	3	on	on	ADP
fbem-875	181	4	equity	equity	NOUN
fbem-875	181	5	of	of	ADP
fbem-875	181	6	total	total	ADJ
fbem-875	181	7	assets	asset	NOUN
fbem-875	181	8	is	be	AUX
fbem-875	181	9	replaced	replace	VERB
fbem-875	181	10	by	by	ADP
fbem-875	181	11	the	the	DET
fbem-875	181	12	return	return	NOUN
fbem-875	181	13	on	on	ADP
fbem-875	181	14	equity	equity	NOUN
fbem-875	181	15	to	to	PART
fbem-875	181	16	represent	represent	VERB
fbem-875	181	17	the	the	DET
fbem-875	181	18	performance	performance	NOUN
fbem-875	181	19	of	of	ADP
fbem-875	181	20	the	the	DET
fbem-875	181	21	enterprise	enterprise	NOUN
fbem-875	181	22	.	.	PUNCT
fbem-875	182	1	after	after	ADP
fbem-875	182	2	replacing	replace	VERB
fbem-875	182	3	variables	variable	NOUN
fbem-875	182	4	and	and	CCONJ
fbem-875	182	5	changing	change	VERB
fbem-875	182	6	the	the	DET
fbem-875	182	7	sample	sample	NOUN
fbem-875	182	8	time	time	NOUN
fbem-875	182	9	interval	interval	NOUN
fbem-875	182	10	,	,	PUNCT
fbem-875	182	11	the	the	DET
fbem-875	182	12	regression	regression	NOUN
fbem-875	182	13	results	result	NOUN
fbem-875	182	14	are	be	AUX
fbem-875	182	15	basically	basically	ADV
fbem-875	182	16	consistent	consistent	ADJ
fbem-875	182	17	with	with	ADP
fbem-875	182	18	the	the	DET
fbem-875	182	19	above	above	ADJ
fbem-875	182	20	.	.	PUNCT
fbem-875	183	1	table	table	NOUN
fbem-875	183	2	4	4	NUM
fbem-875	183	3	.	.	PUNCT
fbem-875	184	1	regression	regression	NOUN
fbem-875	184	2	results	result	VERB
fbem-875	184	3	variable	variable	ADJ
fbem-875	184	4	model	model	NOUN
fbem-875	184	5	1	1	NUM
fbem-875	184	6	model	model	NOUN
fbem-875	184	7	2	2	NUM
fbem-875	184	8	model	model	NOUN
fbem-875	184	9	3	3	NUM
fbem-875	184	10	roa	roa	PROPN
fbem-875	184	11	lev	lev	PROPN
fbem-875	184	12	roa	roa	PROPN
fbem-875	184	13	constant	constant	ADJ
fbem-875	184	14	0.781	0.781	NUM
fbem-875	184	15	*	*	PUNCT
fbem-875	184	16	*	*	PUNCT
fbem-875	184	17	*	*	PUNCT
fbem-875	184	18	1.359	1.359	NUM
fbem-875	184	19	*	*	PUNCT
fbem-875	184	20	*	*	PUNCT
fbem-875	184	21	*	*	PUNCT
fbem-875	184	22	0.660	0.660	NUM
fbem-875	184	23	*	*	PUNCT
fbem-875	184	24	*	*	PUNCT
fbem-875	184	25	*	*	PUNCT
fbem-875	184	26	(	(	PUNCT
fbem-875	184	27	15.35	15.35	NUM
fbem-875	184	28	)	)	PUNCT
fbem-875	184	29	(	(	PUNCT
fbem-875	184	30	18.39	18.39	NUM
fbem-875	184	31	)	)	PUNCT
fbem-875	184	32	(	(	PUNCT
fbem-875	184	33	13.78	13.78	NUM
fbem-875	184	34	)	)	PUNCT
fbem-875	184	35	lev	lev	NOUN
fbem-875	184	36	0.242	0.242	NUM
fbem-875	184	37	*	*	PUNCT
fbem-875	184	38	*	*	PUNCT
fbem-875	184	39	*	*	PUNCT
fbem-875	184	40	0.222	0.222	NUM
fbem-875	184	41	*	*	NOUN
fbem-875	184	42	*	*	PUNCT
fbem-875	184	43	*	*	PUNCT
fbem-875	184	44	(	(	PUNCT
fbem-875	184	45	37.57	37.57	NUM
fbem-875	184	46	)	)	PUNCT
fbem-875	184	47	(	(	PUNCT
fbem-875	184	48	32.20	32.20	NUM
fbem-875	184	49	)	)	PUNCT
fbem-875	184	50	csr	csr	NOUN
fbem-875	184	51	0.104	0.104	NOUN
fbem-875	184	52	*	*	PUNCT
fbem-875	184	53	*	*	PUNCT
fbem-875	184	54	*	*	PUNCT
fbem-875	184	55	0.148	0.148	NUM
fbem-875	184	56	*	*	PUNCT
fbem-875	184	57	*	*	PUNCT
fbem-875	184	58	*	*	PUNCT
fbem-875	184	59	(	(	PUNCT
fbem-875	184	60	14.11	14.11	NUM
fbem-875	184	61	)	)	PUNCT
fbem-875	184	62	(	(	PUNCT
fbem-875	184	63	14.33	14.33	NUM
fbem-875	184	64	)	)	PUNCT
fbem-875	184	65	csr×lev	csr×lev	NOUN
fbem-875	184	66	0.068	0.068	NUM
fbem-875	184	67	*	*	PUNCT
fbem-875	184	68	*	*	PUNCT
fbem-875	184	69	*	*	PUNCT
fbem-875	184	70	(	(	PUNCT
fbem-875	184	71	3.59	3.59	NUM
fbem-875	184	72	)	)	PUNCT
fbem-875	184	73	size	size	NOUN
fbem-875	184	74	0.041	0.041	NUM
fbem-875	184	75	*	*	PUNCT
fbem-875	184	76	*	*	PUNCT
fbem-875	184	77	*	*	PUNCT
fbem-875	184	78	0.087	0.087	NUM
fbem-875	184	79	*	*	PUNCT
fbem-875	184	80	*	*	PUNCT
fbem-875	184	81	*	*	PUNCT
fbem-875	184	82	0.034	0.034	NUM
fbem-875	184	83	*	*	PUNCT
fbem-875	184	84	*	*	PUNCT
fbem-875	184	85	*	*	PUNCT
fbem-875	184	86	(	(	PUNCT
fbem-875	184	87	21.71	21.71	NUM
fbem-875	184	88	)	)	PUNCT
fbem-875	184	89	(	(	PUNCT
fbem-875	184	90	32.25	32.25	NUM
fbem-875	184	91	)	)	PUNCT
fbem-875	184	92	(	(	PUNCT
fbem-875	184	93	19.03	19.03	NUM
fbem-875	184	94	)	)	PUNCT
fbem-875	184	95	growth	growth	NOUN
fbem-875	184	96	0.016	0.016	NUM
fbem-875	184	97	*	*	PUNCT
fbem-875	184	98	*	*	PUNCT
fbem-875	184	99	*	*	PUNCT
fbem-875	184	100	0.003	0.003	NUM
fbem-875	184	101	*	*	PUNCT
fbem-875	184	102	0.014	0.014	NUM
fbem-875	184	103	*	*	PUNCT
fbem-875	184	104	*	*	PUNCT
fbem-875	184	105	*	*	PUNCT
fbem-875	184	106	(	(	PUNCT
fbem-875	184	107	14.01	14.01	NUM
fbem-875	184	108	)	)	PUNCT
fbem-875	184	109	(	(	PUNCT
fbem-875	184	110	1.71	1.71	NUM
fbem-875	184	111	)	)	PUNCT
fbem-875	184	112	(	(	PUNCT
fbem-875	184	113	12.58	12.58	NUM
fbem-875	184	114	)	)	PUNCT
fbem-875	184	115	capital	capital	NOUN
fbem-875	184	116	0.067	0.067	NUM
fbem-875	184	117	*	*	PUNCT
fbem-875	184	118	*	*	PUNCT
fbem-875	184	119	*	*	PUNCT
fbem-875	185	1	0.166	0.166	NUM
fbem-875	185	2	*	*	PUNCT
fbem-875	185	3	*	*	PUNCT
fbem-875	185	4	*	*	PUNCT
fbem-875	185	5	0.048	0.048	NUM
fbem-875	185	6	*	*	NOUN
fbem-875	185	7	*	*	PUNCT
fbem-875	185	8	*	*	PUNCT
fbem-875	185	9	(	(	PUNCT
fbem-875	185	10	7.27	7.27	NUM
fbem-875	185	11	)	)	PUNCT
fbem-875	185	12	(	(	PUNCT
fbem-875	185	13	12.22	12.22	NUM
fbem-875	185	14	)	)	PUNCT
fbem-875	185	15	(	(	PUNCT
fbem-875	185	16	5.45	5.45	NUM
fbem-875	185	17	)	)	PUNCT
fbem-875	185	18	tato	tato	NOUN
fbem-875	185	19	0.074	0.074	NUM
fbem-875	185	20	*	*	PUNCT
fbem-875	185	21	*	*	PUNCT
fbem-875	185	22	*	*	PUNCT
fbem-875	185	23	0.009	0.009	NUM
fbem-875	185	24	*	*	NUM
fbem-875	185	25	0.064	0.064	NUM
fbem-875	185	26	*	*	PUNCT
fbem-875	185	27	*	*	PUNCT
fbem-875	185	28	*	*	PUNCT
fbem-875	185	29	(	(	PUNCT
fbem-875	185	30	21.20	21.20	NUM
fbem-875	185	31	)	)	PUNCT
fbem-875	185	32	(	(	PUNCT
fbem-875	185	33	1.68	1.68	NUM
fbem-875	185	34	)	)	PUNCT
fbem-875	185	35	(	(	PUNCT
fbem-875	185	36	19.27	19.27	NUM
fbem-875	185	37	)	)	PUNCT
fbem-875	185	38	h10	h10	NOUN
fbem-875	185	39	0.000	0.000	NUM
fbem-875	185	40	0.003	0.003	NUM
fbem-875	185	41	*	*	PUNCT
fbem-875	185	42	*	*	PUNCT
fbem-875	185	43	*	*	PUNCT
fbem-875	185	44	0.000	0.000	NUM
fbem-875	185	45	(	(	PUNCT
fbem-875	185	46	0.40	0.40	NUM
fbem-875	185	47	)	)	PUNCT
fbem-875	185	48	(	(	PUNCT
fbem-875	185	49	18.91	18.91	NUM
fbem-875	185	50	)	)	PUNCT
fbem-875	185	51	(	(	PUNCT
fbem-875	185	52	0.73	0.73	NUM
fbem-875	185	53	)	)	PUNCT
fbem-875	185	54	soe	soe	PROPN
fbem-875	185	55	0.010	0.010	NUM
fbem-875	185	56	*	*	PUNCT
fbem-875	185	57	(	(	PUNCT
fbem-875	185	58	1.91	1.91	NUM
fbem-875	185	59	)	)	PUNCT
fbem-875	185	60	0.010	0.010	NUM
fbem-875	185	61	(	(	PUNCT
fbem-875	185	62	1.40	1.40	NUM
fbem-875	185	63	)	)	PUNCT
fbem-875	185	64	0.008	0.008	NUM
fbem-875	185	65	*	*	PUNCT
fbem-875	185	66	(	(	PUNCT
fbem-875	185	67	1.81	1.81	NUM
fbem-875	185	68	)	)	PUNCT
fbem-875	185	69	year	year	NOUN
fbem-875	186	1	yes	yes	INTJ
fbem-875	186	2	yes	yes	INTJ
fbem-875	187	1	yes	yes	INTJ
fbem-875	187	2	industry	industry	NOUN
fbem-875	188	1	yes	yes	INTJ
fbem-875	189	1	yes	yes	INTJ
fbem-875	190	1	yes	yes	INTJ
fbem-875	191	1	n	n	ADV
fbem-875	191	2	1.4	1.4	NUM
fbem-875	191	3	e+04	e+04	NUM
fbem-875	191	4	1.4	1.4	NUM
fbem-875	191	5	e+04	e+04	NUM
fbem-875	191	6	1.4	1.4	NUM
fbem-875	191	7	e+04	e+04	ADJ
fbem-875	191	8	f	f	PROPN
fbem-875	191	9	112.160	112.160	NUM
fbem-875	191	10	65.970	65.970	NUM
fbem-875	191	11	164.877	164.877	NUM
fbem-875	191	12	table	table	NOUN
fbem-875	191	13	5	5	NUM
fbem-875	191	14	.	.	PUNCT
fbem-875	192	1	robustness	robustness	NOUN
fbem-875	192	2	test	test	NOUN
fbem-875	192	3	variable	variable	ADJ
fbem-875	192	4	model	model	NOUN
fbem-875	192	5	1	1	NUM
fbem-875	192	6	model	model	NOUN
fbem-875	192	7	2	2	NUM
fbem-875	192	8	model	model	NOUN
fbem-875	192	9	3	3	NUM
fbem-875	192	10	roe	roe	NOUN
fbem-875	192	11	lev	lev	PROPN
fbem-875	192	12	roe	roe	PROPN
fbem-875	192	13	constant	constant	ADJ
fbem-875	192	14	4.964	4.964	NUM
fbem-875	192	15	*	*	PUNCT
fbem-875	192	16	*	*	PUNCT
fbem-875	192	17	*	*	PUNCT
fbem-875	192	18	2.123	2.123	NUM
fbem-875	192	19	*	*	NOUN
fbem-875	192	20	*	*	PUNCT
fbem-875	192	21	*	*	PUNCT
fbem-875	192	22	2.969	2.969	NUM
fbem-875	192	23	*	*	PUNCT
fbem-875	192	24	*	*	PUNCT
fbem-875	192	25	*	*	PUNCT
fbem-875	192	26	(	(	PUNCT
fbem-875	192	27	22.58	22.58	NUM
fbem-875	192	28	)	)	PUNCT
fbem-875	192	29	(	(	PUNCT
fbem-875	192	30	22.82	22.82	NUM
fbem-875	192	31	)	)	PUNCT
fbem-875	192	32	(	(	PUNCT
fbem-875	192	33	16.22	16.22	NUM
fbem-875	192	34	)	)	PUNCT
fbem-875	192	35	lev	lev	NOUN
fbem-875	192	36	0.992	0.992	NUM
fbem-875	192	37	*	*	PUNCT
fbem-875	192	38	*	*	PUNCT
fbem-875	192	39	*	*	PUNCT
fbem-875	192	40	1.001	1.001	NUM
fbem-875	192	41	*	*	PUNCT
fbem-875	192	42	*	*	PUNCT
fbem-875	192	43	*	*	PUNCT
fbem-875	192	44	(	(	PUNCT
fbem-875	192	45	34.85	34.85	NUM
fbem-875	192	46	)	)	PUNCT
fbem-875	192	47	(	(	PUNCT
fbem-875	192	48	35.37	35.37	NUM
fbem-875	192	49	)	)	PUNCT
fbem-875	192	50	csr	csr	NOUN
fbem-875	192	51	0.318	0.318	NUM
fbem-875	192	52	*	*	PUNCT
fbem-875	192	53	*	*	PUNCT
fbem-875	192	54	*	*	PUNCT
fbem-875	192	55	0.116	0.116	NUM
fbem-875	192	56	*	*	PUNCT
fbem-875	193	1	*	*	PUNCT
fbem-875	194	1	(	(	PUNCT
fbem-875	194	2	24.54	24.54	NUM
fbem-875	194	3	)	)	PUNCT
fbem-875	194	4	(	(	PUNCT
fbem-875	194	5	2.29	2.29	NUM
fbem-875	194	6	)	)	PUNCT
fbem-875	194	7	csr×lev	csr×lev	NOUN
fbem-875	194	8	2.372	2.372	NUM
fbem-875	194	9	*	*	NOUN
fbem-875	194	10	*	*	PUNCT
fbem-875	194	11	*	*	PUNCT
fbem-875	194	12	(	(	PUNCT
fbem-875	194	13	25.46	25.46	NUM
fbem-875	194	14	)	)	PUNCT
fbem-875	194	15	size	size	NOUN
fbem-875	194	16	0.240	0.240	NUM
fbem-875	194	17	*	*	PUNCT
fbem-875	194	18	*	*	PUNCT
fbem-875	194	19	*	*	PUNCT
fbem-875	194	20	0.118	0.118	NUM
fbem-875	194	21	*	*	PUNCT
fbem-875	194	22	*	*	PUNCT
fbem-875	194	23	*	*	PUNCT
fbem-875	194	24	0.144	0.144	NUM
fbem-875	194	25	*	*	PUNCT
fbem-875	194	26	*	*	PUNCT
fbem-875	194	27	*	*	PUNCT
fbem-875	194	28	(	(	PUNCT
fbem-875	194	29	27.26	27.26	NUM
fbem-875	194	30	)	)	PUNCT
fbem-875	194	31	(	(	PUNCT
fbem-875	194	32	32.56	32.56	NUM
fbem-875	194	33	)	)	PUNCT
fbem-875	194	34	(	(	PUNCT
fbem-875	194	35	19.40	19.40	NUM
fbem-875	194	36	)	)	PUNCT
fbem-875	194	37	growth	growth	NOUN
fbem-875	194	38	0.036	0.036	NUM
fbem-875	194	39	*	*	PUNCT
fbem-875	194	40	*	*	PUNCT
fbem-875	194	41	*	*	PUNCT
fbem-875	194	42	0.008	0.008	NUM
fbem-875	194	43	*	*	PUNCT
fbem-875	194	44	*	*	PUNCT
fbem-875	194	45	*	*	PUNCT
fbem-875	194	46	0.015	0.015	NUM
fbem-875	194	47	*	*	PUNCT
fbem-875	194	48	*	*	PUNCT
fbem-875	194	49	*	*	PUNCT
fbem-875	194	50	(	(	PUNCT
fbem-875	194	51	7.00	7.00	NUM
fbem-875	194	52	)	)	PUNCT
fbem-875	194	53	(	(	PUNCT
fbem-875	194	54	3.80	3.80	NUM
fbem-875	194	55	)	)	PUNCT
fbem-875	194	56	(	(	PUNCT
fbem-875	194	57	3.69	3.69	NUM
fbem-875	194	58	)	)	PUNCT
fbem-875	194	59	capital	capital	NOUN
fbem-875	194	60	0.039	0.039	NUM
fbem-875	194	61	0.127	0.127	NUM
fbem-875	194	62	*	*	PUNCT
fbem-875	194	63	*	*	PUNCT
fbem-875	194	64	*	*	PUNCT
fbem-875	194	65	0.077	0.077	NUM
fbem-875	194	66	*	*	X
fbem-875	194	67	*	*	PUNCT
fbem-875	194	68	(	(	PUNCT
fbem-875	194	69	1.04	1.04	NUM
fbem-875	194	70	)	)	PUNCT
fbem-875	194	71	(	(	PUNCT
fbem-875	194	72	7.83	7.83	NUM
fbem-875	194	73	)	)	PUNCT
fbem-875	194	74	(	(	PUNCT
fbem-875	194	75	2.51	2.51	NUM
fbem-875	194	76	)	)	PUNCT
fbem-875	194	77	tato	tato	NOUN
fbem-875	194	78	0.151	0.151	NUM
fbem-875	194	79	*	*	PUNCT
fbem-875	194	80	*	*	PUNCT
fbem-875	194	81	*	*	PUNCT
fbem-875	194	82	0.030	0.030	NUM
fbem-875	194	83	*	*	PUNCT
fbem-875	194	84	*	*	PUNCT
fbem-875	194	85	*	*	PUNCT
fbem-875	194	86	0.064	0.064	NUM
fbem-875	194	87	*	*	PUNCT
fbem-875	194	88	*	*	PUNCT
fbem-875	194	89	*	*	PUNCT
fbem-875	194	90	(	(	PUNCT
fbem-875	194	91	9.86	9.86	NUM
fbem-875	194	92	)	)	PUNCT
fbem-875	194	93	(	(	PUNCT
fbem-875	194	94	4.53	4.53	NUM
fbem-875	194	95	)	)	PUNCT
fbem-875	194	96	(	(	PUNCT
fbem-875	194	97	5.08	5.08	NUM
fbem-875	194	98	)	)	PUNCT
fbem-875	194	99	h10	h10	NOUN
fbem-875	194	100	0.001	0.001	NUM
fbem-875	194	101	0.002	0.002	NUM
fbem-875	194	102	*	*	PUNCT
fbem-875	194	103	*	*	PUNCT
fbem-875	194	104	*	*	PUNCT
fbem-875	194	105	0.001	0.001	NUM
fbem-875	194	106	*	*	PUNCT
fbem-875	194	107	*	*	PUNCT
fbem-875	194	108	*	*	PUNCT
fbem-875	194	109	(	(	PUNCT
fbem-875	194	110	1.13	1.13	NUM
fbem-875	194	111	)	)	PUNCT
fbem-875	194	112	(	(	PUNCT
fbem-875	194	113	9.13	9.13	NUM
fbem-875	194	114	)	)	PUNCT
fbem-875	194	115	(	(	PUNCT
fbem-875	194	116	2.93	2.93	NUM
fbem-875	194	117	)	)	PUNCT
fbem-875	194	118	soe	soe	PROPN
fbem-875	194	119	0.007	0.007	NUM
fbem-875	194	120	(	(	PUNCT
fbem-875	194	121	0.42	0.42	NUM
fbem-875	194	122	)	)	PUNCT
fbem-875	194	123	0.013	0.013	NUM
fbem-875	194	124	*	*	PUNCT
fbem-875	194	125	(	(	PUNCT
fbem-875	194	126	1.82	1.82	NUM
fbem-875	194	127	)	)	PUNCT
fbem-875	194	128	0.004	0.004	NUM
fbem-875	194	129	(	(	PUNCT
fbem-875	194	130	0.29	0.29	NUM
fbem-875	194	131	)	)	PUNCT
fbem-875	194	132	year	year	NOUN
fbem-875	195	1	yes	yes	INTJ
fbem-875	196	1	yes	yes	INTJ
fbem-875	196	2	yes	yes	INTJ
fbem-875	197	1	industry	industry	NOUN
fbem-875	198	1	yes	yes	INTJ
fbem-875	199	1	yes	yes	INTJ
fbem-875	200	1	yes	yes	INTJ
fbem-875	201	1	n	n	ADV
fbem-875	202	1	9275.000	9275.000	NUM
fbem-875	202	2	9275.000	9275.000	NUM
fbem-875	202	3	9275.000	9275.000	NUM
fbem-875	202	4	f	f	X
fbem-875	203	1	77.637	77.637	NUM
fbem-875	203	2	77.023	77.023	NUM
fbem-875	203	3	211.620	211.620	NUM
fbem-875	203	4	144	144	NUM
fbem-875	203	5	4.5	4.5	NUM
fbem-875	203	6	.	.	PUNCT
fbem-875	204	1	further	further	ADJ
fbem-875	204	2	analysis	analysis	NOUN
fbem-875	204	3	this	this	DET
fbem-875	204	4	paper	paper	NOUN
fbem-875	204	5	further	further	ADJ
fbem-875	204	6	studies	study	NOUN
fbem-875	204	7	the	the	DET
fbem-875	204	8	impact	impact	NOUN
fbem-875	204	9	of	of	ADP
fbem-875	204	10	the	the	DET
fbem-875	204	11	five	five	NUM
fbem-875	204	12	dimensions	dimension	NOUN
fbem-875	204	13	of	of	ADP
fbem-875	204	14	csr	csr	NOUN
fbem-875	204	15	and	and	CCONJ
fbem-875	204	16	the	the	DET
fbem-875	204	17	cross	cross	ADJ
fbem-875	204	18	term	term	NOUN
fbem-875	204	19	of	of	ADP
fbem-875	204	20	debt	debt	NOUN
fbem-875	204	21	financing	financing	NOUN
fbem-875	204	22	on	on	ADP
fbem-875	204	23	corporate	corporate	ADJ
fbem-875	204	24	performance	performance	NOUN
fbem-875	204	25	to	to	PART
fbem-875	204	26	verify	verify	VERB
fbem-875	204	27	whether	whether	SCONJ
fbem-875	204	28	different	different	ADJ
fbem-875	204	29	dimensions	dimension	NOUN
fbem-875	204	30	of	of	ADP
fbem-875	204	31	csr	csr	X
fbem-875	204	32	have	have	VERB
fbem-875	204	33	a	a	DET
fbem-875	204	34	moderating	moderate	VERB
fbem-875	204	35	effect	effect	NOUN
fbem-875	204	36	on	on	ADP
fbem-875	204	37	the	the	DET
fbem-875	204	38	relationship	relationship	NOUN
fbem-875	204	39	between	between	ADP
fbem-875	204	40	debt	debt	NOUN
fbem-875	204	41	financing	financing	NOUN
fbem-875	204	42	and	and	CCONJ
fbem-875	204	43	corporate	corporate	ADJ
fbem-875	204	44	performance	performance	NOUN
fbem-875	204	45	.	.	PUNCT
fbem-875	205	1	watch	watch	NOUN
fbem-875	205	2	list	list	NOUN
fbem-875	205	3	,	,	PUNCT
fbem-875	205	4	the	the	DET
fbem-875	205	5	debt	debt	NOUN
fbem-875	205	6	financing	financing	NOUN
fbem-875	205	7	and	and	CCONJ
fbem-875	205	8	corporate	corporate	ADJ
fbem-875	205	9	performance	performance	NOUN
fbem-875	205	10	coefficient	coefficient	NOUN
fbem-875	205	11	to	to	ADP
fbem-875	205	12	1	1	NUM
fbem-875	205	13	%	%	NOUN
fbem-875	205	14	significance	significance	NOUN
fbem-875	205	15	level	level	NOUN
fbem-875	205	16	is	be	AUX
fbem-875	205	17	negative	negative	ADJ
fbem-875	205	18	,	,	PUNCT
fbem-875	205	19	financing	financing	NOUN
fbem-875	205	20	and	and	CCONJ
fbem-875	205	21	the	the	DET
fbem-875	205	22	shareholders	shareholder	NOUN
fbem-875	205	23	liability	liability	NOUN
fbem-875	205	24	for	for	ADP
fbem-875	205	25	the	the	DET
fbem-875	205	26	debts	debt	NOUN
fbem-875	205	27	of	of	ADP
fbem-875	205	28	the	the	DET
fbem-875	205	29	enterprise	enterprise	NOUN
fbem-875	205	30	by	by	ADP
fbem-875	205	31	item	item	NOUN
fbem-875	205	32	and	and	CCONJ
fbem-875	205	33	corporate	corporate	ADJ
fbem-875	205	34	debt	debt	NOUN
fbem-875	205	35	financing	financing	NOUN
fbem-875	205	36	and	and	CCONJ
fbem-875	205	37	social	social	ADJ
fbem-875	205	38	responsibility	responsibility	NOUN
fbem-875	205	39	to	to	PART
fbem-875	205	40	pay	pay	VERB
fbem-875	205	41	by	by	ADP
fbem-875	205	42	item	item	NOUN
fbem-875	205	43	and	and	CCONJ
fbem-875	205	44	significantly	significantly	ADV
fbem-875	205	45	positive	positive	ADJ
fbem-875	205	46	correlation	correlation	NOUN
fbem-875	205	47	coefficient	coefficient	NOUN
fbem-875	205	48	of	of	ADP
fbem-875	205	49	enterprise	enterprise	NOUN
fbem-875	205	50	performance	performance	NOUN
fbem-875	205	51	,	,	PUNCT
fbem-875	205	52	companies	company	NOUN
fbem-875	205	53	make	make	VERB
fbem-875	205	54	active	active	ADJ
fbem-875	205	55	shareholder	shareholder	NOUN
fbem-875	205	56	responsibility	responsibility	NOUN
fbem-875	205	57	and	and	CCONJ
fbem-875	205	58	the	the	DET
fbem-875	205	59	social	social	ADJ
fbem-875	205	60	donation	donation	NOUN
fbem-875	205	61	and	and	CCONJ
fbem-875	205	62	so	so	ADV
fbem-875	205	63	on	on	ADV
fbem-875	205	64	can	can	AUX
fbem-875	205	65	provide	provide	VERB
fbem-875	205	66	corporate	corporate	ADJ
fbem-875	205	67	performance	performance	NOUN
fbem-875	205	68	significantly	significantly	ADV
fbem-875	205	69	.	.	PUNCT
fbem-875	206	1	however	however	ADV
fbem-875	206	2	,	,	PUNCT
fbem-875	206	3	other	other	ADJ
fbem-875	206	4	dimensions	dimension	NOUN
fbem-875	206	5	of	of	ADP
fbem-875	206	6	csr	csr	X
fbem-875	206	7	do	do	AUX
fbem-875	206	8	not	not	PART
fbem-875	206	9	have	have	VERB
fbem-875	206	10	the	the	DET
fbem-875	206	11	same	same	ADJ
fbem-875	206	12	conclusion	conclusion	NOUN
fbem-875	206	13	as	as	ADP
fbem-875	206	14	the	the	DET
fbem-875	206	15	above	above	NOUN
fbem-875	206	16	,	,	PUNCT
fbem-875	206	17	which	which	PRON
fbem-875	206	18	needs	need	VERB
fbem-875	206	19	further	further	ADJ
fbem-875	206	20	investigation	investigation	NOUN
fbem-875	206	21	.	.	PUNCT
fbem-875	207	1	it	it	PRON
fbem-875	207	2	can	can	AUX
fbem-875	207	3	be	be	AUX
fbem-875	207	4	seen	see	VERB
fbem-875	207	5	from	from	ADP
fbem-875	207	6	the	the	DET
fbem-875	207	7	further	further	ADJ
fbem-875	207	8	analysis	analysis	NOUN
fbem-875	207	9	of	of	ADP
fbem-875	207	10	the	the	DET
fbem-875	207	11	text	text	NOUN
fbem-875	207	12	that	that	SCONJ
fbem-875	207	13	enterprises	enterprise	NOUN
fbem-875	207	14	need	need	VERB
fbem-875	207	15	to	to	PART
fbem-875	207	16	actively	actively	ADV
fbem-875	207	17	make	make	VERB
fbem-875	207	18	charitable	charitable	ADJ
fbem-875	207	19	donations	donation	NOUN
fbem-875	207	20	to	to	PART
fbem-875	207	21	establish	establish	VERB
fbem-875	207	22	a	a	DET
fbem-875	207	23	good	good	ADJ
fbem-875	207	24	corporate	corporate	ADJ
fbem-875	207	25	image	image	NOUN
fbem-875	207	26	and	and	CCONJ
fbem-875	207	27	ensure	ensure	VERB
fbem-875	207	28	the	the	DET
fbem-875	207	29	rights	right	NOUN
fbem-875	207	30	and	and	CCONJ
fbem-875	207	31	interests	interest	NOUN
fbem-875	207	32	of	of	ADP
fbem-875	207	33	shareholders	shareholder	NOUN
fbem-875	207	34	to	to	PART
fbem-875	207	35	promote	promote	VERB
fbem-875	207	36	the	the	DET
fbem-875	207	37	improvement	improvement	NOUN
fbem-875	207	38	of	of	ADP
fbem-875	207	39	corporate	corporate	ADJ
fbem-875	207	40	performance	performance	NOUN
fbem-875	207	41	.	.	PUNCT
fbem-875	208	1	table	table	NOUN
fbem-875	208	2	6	6	NUM
fbem-875	208	3	.	.	PUNCT
fbem-875	209	1	for	for	ADP
fbem-875	209	2	further	further	ADJ
fbem-875	209	3	analysis	analysis	NOUN
fbem-875	209	4	variable	variable	ADJ
fbem-875	209	5	roa	roa	PROPN
fbem-875	209	6	roa	roa	PROPN
fbem-875	209	7	roa	roa	PROPN
fbem-875	209	8	roa	roa	PROPN
fbem-875	209	9	roa	roa	PROPN
fbem-875	209	10	constant	constant	ADJ
fbem-875	209	11	0.394	0.394	NUM
fbem-875	209	12	*	*	PUNCT
fbem-875	209	13	*	*	PUNCT
fbem-875	209	14	*	*	PUNCT
fbem-875	209	15	0.781	0.781	NUM
fbem-875	209	16	*	*	PUNCT
fbem-875	209	17	*	*	PUNCT
fbem-875	209	18	*	*	PUNCT
fbem-875	209	19	0.781	0.781	NUM
fbem-875	209	20	*	*	PUNCT
fbem-875	209	21	*	*	PUNCT
fbem-875	209	22	*	*	PUNCT
fbem-875	209	23	0.781	0.781	NUM
fbem-875	209	24	*	*	PUNCT
fbem-875	209	25	*	*	PUNCT
fbem-875	209	26	*	*	PUNCT
fbem-875	209	27	0.709	0.709	NUM
fbem-875	209	28	*	*	PUNCT
fbem-875	209	29	*	*	PUNCT
fbem-875	209	30	*	*	PUNCT
fbem-875	209	31	(	(	PUNCT
fbem-875	209	32	10.62	10.62	NUM
fbem-875	209	33	)	)	PUNCT
fbem-875	209	34	(	(	PUNCT
fbem-875	209	35	15.35	15.35	NUM
fbem-875	209	36	)	)	PUNCT
fbem-875	209	37	(	(	PUNCT
fbem-875	209	38	15.36	15.36	NUM
fbem-875	209	39	)	)	PUNCT
fbem-875	209	40	(	(	PUNCT
fbem-875	209	41	15.37	15.37	NUM
fbem-875	209	42	)	)	PUNCT
fbem-875	209	43	(	(	PUNCT
fbem-875	209	44	14.30	14.30	NUM
fbem-875	209	45	)	)	PUNCT
fbem-875	209	46	lev	lev	NOUN
fbem-875	209	47	0.103	0.103	NUM
fbem-875	209	48	*	*	PUNCT
fbem-875	209	49	*	*	PUNCT
fbem-875	209	50	*	*	PUNCT
fbem-875	209	51	0.241	0.241	NUM
fbem-875	209	52	*	*	PUNCT
fbem-875	209	53	*	*	PUNCT
fbem-875	209	54	*	*	PUNCT
fbem-875	209	55	0.242	0.242	NUM
fbem-875	209	56	*	*	PUNCT
fbem-875	209	57	*	*	PUNCT
fbem-875	209	58	*	*	PUNCT
fbem-875	209	59	0.243	0.243	NUM
fbem-875	209	60	*	*	PUNCT
fbem-875	209	61	*	*	PUNCT
fbem-875	209	62	*	*	PUNCT
fbem-875	209	63	0.234	0.234	NUM
fbem-875	209	64	*	*	PUNCT
fbem-875	209	65	*	*	PUNCT
fbem-875	209	66	*	*	PUNCT
fbem-875	209	67	(	(	PUNCT
fbem-875	209	68	17.28	17.28	NUM
fbem-875	209	69	)	)	PUNCT
fbem-875	209	70	(	(	PUNCT
fbem-875	209	71	34.45	34.45	NUM
fbem-875	209	72	)	)	PUNCT
fbem-875	209	73	(	(	PUNCT
fbem-875	209	74	37.50	37.50	NUM
fbem-875	209	75	)	)	PUNCT
fbem-875	209	76	(	(	PUNCT
fbem-875	209	77	37.50	37.50	NUM
fbem-875	209	78	)	)	PUNCT
fbem-875	209	79	(	(	PUNCT
fbem-875	209	80	35.06	35.06	NUM
fbem-875	209	81	)	)	PUNCT
fbem-875	209	82	stknumber	stknumber	NOUN
fbem-875	209	83	0.870	0.870	NUM
fbem-875	209	84	*	*	PUNCT
fbem-875	209	85	*	*	PUNCT
fbem-875	209	86	*	*	PUNCT
fbem-875	209	87	(	(	PUNCT
fbem-875	209	88	45.64	45.64	NUM
fbem-875	209	89	)	)	PUNCT
fbem-875	209	90	stknumber	stknumber	PROPN
fbem-875	209	91	×lev	×lev	NOUN
fbem-875	209	92	0.196	0.196	NUM
fbem-875	209	93	*	*	PUNCT
fbem-875	209	94	*	*	PUNCT
fbem-875	209	95	*	*	PUNCT
fbem-875	209	96	(	(	PUNCT
fbem-875	209	97	5.47	5.47	NUM
fbem-875	209	98	)	)	PUNCT
fbem-875	209	99	lootchip	lootchip	ADJ
fbem-875	209	100	0.017	0.017	NUM
fbem-875	209	101	(	(	PUNCT
fbem-875	209	102	0.27	0.27	NUM
fbem-875	209	103	)	)	PUNCT
fbem-875	209	104	lootchip×	lootchip×	VERB
fbem-875	209	105	lev	lev	NOUN
fbem-875	209	106	0.036	0.036	NUM
fbem-875	209	107	(	(	PUNCT
fbem-875	209	108	0.30	0.30	NUM
fbem-875	209	109	)	)	PUNCT
fbem-875	209	110	scramble	scramble	VERB
fbem-875	209	111	0.015	0.015	NUM
fbem-875	209	112	(	(	PUNCT
fbem-875	209	113	0.38	0.38	NUM
fbem-875	209	114	)	)	PUNCT
fbem-875	209	115	scramble×lev	scramble×lev	NOUN
fbem-875	210	1	0.061	0.061	NUM
fbem-875	210	2	(	(	PUNCT
fbem-875	210	3	0.79	0.79	NUM
fbem-875	210	4	)	)	PUNCT
fbem-875	210	5	rscramble	rscramble	ADJ
fbem-875	210	6	0.034	0.034	NUM
fbem-875	210	7	(	(	PUNCT
fbem-875	210	8	0.82	0.82	NUM
fbem-875	210	9	)	)	PUNCT
fbem-875	210	10	rscramble×	rscramble×	NOUN
fbem-875	210	11	lev	lev	NOUN
fbem-875	210	12	0.092	0.092	NUM
fbem-875	210	13	(	(	PUNCT
fbem-875	210	14	1.16	1.16	NUM
fbem-875	210	15	)	)	PUNCT
fbem-875	210	16	strongstk	strongstk	ADJ
fbem-875	210	17	0.313	0.313	NUM
fbem-875	210	18	*	*	PUNCT
fbem-875	210	19	*	*	PUNCT
fbem-875	210	20	*	*	PUNCT
fbem-875	210	21	(	(	PUNCT
fbem-875	210	22	8.51	8.51	NUM
fbem-875	210	23	)	)	PUNCT
fbem-875	210	24	strongstk×	strongstk×	PROPN
fbem-875	210	25	lev	lev	NOUN
fbem-875	210	26	0.181	0.181	NUM
fbem-875	210	27	*	*	PUNCT
fbem-875	210	28	*	*	PUNCT
fbem-875	210	29	*	*	PUNCT
fbem-875	210	30	(	(	PUNCT
fbem-875	210	31	2.61	2.61	NUM
fbem-875	210	32	)	)	PUNCT
fbem-875	210	33	size	size	NOUN
fbem-875	210	34	0.017	0.017	NUM
fbem-875	210	35	*	*	PUNCT
fbem-875	210	36	*	*	PUNCT
fbem-875	210	37	*	*	PUNCT
fbem-875	210	38	0.041	0.041	NUM
fbem-875	210	39	*	*	PUNCT
fbem-875	210	40	*	*	PUNCT
fbem-875	210	41	*	*	PUNCT
fbem-875	210	42	0.041	0.041	NUM
fbem-875	210	43	*	*	PUNCT
fbem-875	210	44	*	*	PUNCT
fbem-875	210	45	*	*	PUNCT
fbem-875	210	46	0.042	0.042	NUM
fbem-875	210	47	*	*	PUNCT
fbem-875	210	48	*	*	PUNCT
fbem-875	210	49	*	*	PUNCT
fbem-875	210	50	0.038	0.038	NUM
fbem-875	210	51	*	*	PUNCT
fbem-875	210	52	*	*	PUNCT
fbem-875	210	53	*	*	PUNCT
fbem-875	210	54	(	(	PUNCT
fbem-875	210	55	11.85	11.85	NUM
fbem-875	210	56	)	)	PUNCT
fbem-875	210	57	(	(	PUNCT
fbem-875	210	58	21.68	21.68	NUM
fbem-875	210	59	)	)	PUNCT
fbem-875	210	60	(	(	PUNCT
fbem-875	210	61	21.72	21.72	NUM
fbem-875	210	62	)	)	PUNCT
fbem-875	210	63	(	(	PUNCT
fbem-875	210	64	21.73	21.73	NUM
fbem-875	210	65	)	)	PUNCT
fbem-875	210	66	(	(	PUNCT
fbem-875	210	67	20.35	20.35	NUM
fbem-875	210	68	)	)	PUNCT
fbem-875	210	69	growth	growth	NOUN
fbem-875	210	70	0.007	0.007	NUM
fbem-875	210	71	*	*	PUNCT
fbem-875	210	72	*	*	PUNCT
fbem-875	210	73	*	*	PUNCT
fbem-875	210	74	0.016	0.016	NUM
fbem-875	210	75	*	*	PUNCT
fbem-875	210	76	*	*	PUNCT
fbem-875	210	77	*	*	PUNCT
fbem-875	210	78	0.016	0.016	NUM
fbem-875	210	79	*	*	PUNCT
fbem-875	210	80	*	*	PUNCT
fbem-875	210	81	*	*	PUNCT
fbem-875	210	82	0.016	0.016	NUM
fbem-875	210	83	*	*	PUNCT
fbem-875	210	84	*	*	PUNCT
fbem-875	210	85	*	*	PUNCT
fbem-875	210	86	0.015	0.015	NUM
fbem-875	210	87	*	*	PUNCT
fbem-875	210	88	*	*	PUNCT
fbem-875	210	89	*	*	PUNCT
fbem-875	210	90	(	(	PUNCT
fbem-875	210	91	7.88	7.88	NUM
fbem-875	210	92	)	)	PUNCT
fbem-875	210	93	(	(	PUNCT
fbem-875	210	94	14.01	14.01	NUM
fbem-875	210	95	)	)	PUNCT
fbem-875	210	96	(	(	PUNCT
fbem-875	210	97	14.00	14.00	NUM
fbem-875	210	98	)	)	PUNCT
fbem-875	210	99	(	(	PUNCT
fbem-875	210	100	13.98	13.98	NUM
fbem-875	210	101	)	)	PUNCT
fbem-875	210	102	(	(	PUNCT
fbem-875	210	103	12.98	12.98	NUM
fbem-875	210	104	)	)	PUNCT
fbem-875	210	105	capital	capital	NOUN
fbem-875	210	106	0.001	0.001	NUM
fbem-875	210	107	0.067	0.067	NUM
fbem-875	210	108	*	*	PUNCT
fbem-875	210	109	*	*	PUNCT
fbem-875	210	110	*	*	PUNCT
fbem-875	210	111	0.067	0.067	NUM
fbem-875	210	112	*	*	PUNCT
fbem-875	210	113	*	*	PUNCT
fbem-875	210	114	*	*	PUNCT
fbem-875	210	115	0.067	0.067	NUM
fbem-875	210	116	*	*	PUNCT
fbem-875	210	117	*	*	PUNCT
fbem-875	210	118	*	*	PUNCT
fbem-875	210	119	0.062	0.062	NUM
fbem-875	210	120	*	*	PUNCT
fbem-875	210	121	*	*	PUNCT
fbem-875	210	122	*	*	PUNCT
fbem-875	210	123	(	(	PUNCT
fbem-875	210	124	0.18	0.18	NUM
fbem-875	210	125	)	)	PUNCT
fbem-875	210	126	(	(	PUNCT
fbem-875	210	127	7.27	7.27	NUM
fbem-875	210	128	)	)	PUNCT
fbem-875	210	129	(	(	PUNCT
fbem-875	210	130	7.25	7.25	NUM
fbem-875	210	131	)	)	PUNCT
fbem-875	210	132	(	(	PUNCT
fbem-875	210	133	7.25	7.25	NUM
fbem-875	210	134	)	)	PUNCT
fbem-875	210	135	(	(	PUNCT
fbem-875	210	136	6.90	6.90	NUM
fbem-875	210	137	)	)	PUNCT
fbem-875	210	138	tato	tato	NOUN
fbem-875	210	139	0.027	0.027	NUM
fbem-875	210	140	*	*	PUNCT
fbem-875	210	141	*	*	PUNCT
fbem-875	210	142	*	*	PUNCT
fbem-875	210	143	0.074	0.074	NUM
fbem-875	210	144	*	*	PUNCT
fbem-875	210	145	*	*	PUNCT
fbem-875	210	146	*	*	PUNCT
fbem-875	210	147	0.074	0.074	NUM
fbem-875	210	148	*	*	PUNCT
fbem-875	210	149	*	*	PUNCT
fbem-875	210	150	*	*	PUNCT
fbem-875	210	151	0.074	0.074	NUM
fbem-875	210	152	*	*	PUNCT
fbem-875	210	153	*	*	PUNCT
fbem-875	210	154	*	*	PUNCT
fbem-875	210	155	0.068	0.068	NUM
fbem-875	210	156	*	*	PUNCT
fbem-875	210	157	*	*	PUNCT
fbem-875	210	158	*	*	PUNCT
fbem-875	210	159	(	(	PUNCT
fbem-875	210	160	10.51	10.51	NUM
fbem-875	210	161	)	)	PUNCT
fbem-875	210	162	(	(	PUNCT
fbem-875	210	163	21.20	21.20	NUM
fbem-875	210	164	)	)	PUNCT
fbem-875	210	165	(	(	PUNCT
fbem-875	210	166	21.20	21.20	NUM
fbem-875	210	167	)	)	PUNCT
fbem-875	210	168	(	(	PUNCT
fbem-875	210	169	21.23	21.23	NUM
fbem-875	210	170	)	)	PUNCT
fbem-875	210	171	(	(	PUNCT
fbem-875	210	172	19.97	19.97	NUM
fbem-875	210	173	)	)	PUNCT
fbem-875	210	174	h10	h10	NOUN
fbem-875	210	175	0.000	0.000	NUM
fbem-875	210	176	*	*	PUNCT
fbem-875	210	177	*	*	PUNCT
fbem-875	210	178	*	*	PUNCT
fbem-875	210	179	0.000	0.000	NUM
fbem-875	210	180	0.000	0.000	NUM
fbem-875	210	181	0.000	0.000	NUM
fbem-875	210	182	0.000	0.000	NUM
fbem-875	210	183	(	(	PUNCT
fbem-875	210	184	6.08	6.08	NUM
fbem-875	210	185	)	)	PUNCT
fbem-875	210	186	(	(	PUNCT
fbem-875	210	187	0.39	0.39	NUM
fbem-875	210	188	)	)	PUNCT
fbem-875	210	189	(	(	PUNCT
fbem-875	210	190	0.37	0.37	NUM
fbem-875	210	191	)	)	PUNCT
fbem-875	210	192	(	(	PUNCT
fbem-875	210	193	0.38	0.38	NUM
fbem-875	210	194	)	)	PUNCT
fbem-875	210	195	(	(	PUNCT
fbem-875	210	196	0.92	0.92	NUM
fbem-875	210	197	)	)	PUNCT
fbem-875	210	198	soe	soe	PROPN
fbem-875	210	199	0.002	0.002	NUM
fbem-875	210	200	(	(	PUNCT
fbem-875	210	201	0.66	0.66	NUM
fbem-875	210	202	)	)	PUNCT
fbem-875	210	203	0.010	0.010	NUM
fbem-875	210	204	*	*	PUNCT
fbem-875	210	205	(	(	PUNCT
fbem-875	210	206	1.91	1.91	NUM
fbem-875	210	207	)	)	PUNCT
fbem-875	210	208	0.010	0.010	NUM
fbem-875	210	209	*	*	PUNCT
fbem-875	210	210	(	(	PUNCT
fbem-875	210	211	1.91	1.91	NUM
fbem-875	210	212	)	)	PUNCT
fbem-875	210	213	0.009	0.009	NUM
fbem-875	210	214	*	*	SYM
fbem-875	210	215	(	(	PUNCT
fbem-875	210	216	1.89	1.89	NUM
fbem-875	210	217	)	)	PUNCT
fbem-875	210	218	0.011	0.011	NUM
fbem-875	210	219	*	*	SYM
fbem-875	210	220	*	*	PUNCT
fbem-875	210	221	(	(	PUNCT
fbem-875	210	222	2.27	2.27	NUM
fbem-875	210	223	)	)	PUNCT
fbem-875	210	224	year	year	NOUN
fbem-875	211	1	yes	yes	INTJ
fbem-875	212	1	yes	yes	INTJ
fbem-875	213	1	yes	yes	INTJ
fbem-875	214	1	yes	yes	INTJ
fbem-875	214	2	yes	yes	INTJ
fbem-875	214	3	industry	industry	NOUN
fbem-875	215	1	yes	yes	INTJ
fbem-875	216	1	yes	yes	INTJ
fbem-875	217	1	yes	yes	INTJ
fbem-875	218	1	yes	yes	INTJ
fbem-875	219	1	yes	yes	INTJ
fbem-875	220	1	n	n	ADV
fbem-875	220	2	1.4	1.4	NUM
fbem-875	220	3	e+04	e+04	NUM
fbem-875	220	4	1.4	1.4	NUM
fbem-875	220	5	e+04	e+04	NUM
fbem-875	220	6	1.4	1.4	NUM
fbem-875	220	7	e+04	e+04	NUM
fbem-875	220	8	1.4	1.4	NUM
fbem-875	220	9	e+04	e+04	NUM
fbem-875	220	10	1.4	1.4	NUM
fbem-875	220	11	e+04	e+04	ADJ
fbem-875	220	12	f	f	PROPN
fbem-875	220	13	516.659	516.659	NUM
fbem-875	220	14	105.134	105.134	NUM
fbem-875	220	15	105.183	105.183	NUM
fbem-875	220	16	105.199	105.199	NUM
fbem-875	220	17	131.970	131.970	NUM
fbem-875	220	18	145	145	NUM
fbem-875	220	19	5	5	NUM
fbem-875	220	20	.	.	PUNCT
fbem-875	221	1	conclusions	conclusion	NOUN
fbem-875	221	2	,	,	PUNCT
fbem-875	221	3	suggestions	suggestion	NOUN
fbem-875	221	4	and	and	CCONJ
fbem-875	221	5	limitations	limitation	NOUN
fbem-875	221	6	5.1	5.1	NUM
fbem-875	221	7	.	.	PUNCT
fbem-875	222	1	conclusion	conclusion	NOUN
fbem-875	222	2	based	base	VERB
fbem-875	222	3	on	on	ADP
fbem-875	222	4	the	the	DET
fbem-875	222	5	data	datum	NOUN
fbem-875	222	6	of	of	ADP
fbem-875	222	7	chinese	chinese	ADJ
fbem-875	222	8	a	a	DET
fbem-875	222	9	-	-	PUNCT
fbem-875	222	10	share	share	NOUN
fbem-875	222	11	listed	list	VERB
fbem-875	222	12	companies	company	NOUN
fbem-875	222	13	in	in	ADP
fbem-875	222	14	shanghai	shanghai	PROPN
fbem-875	222	15	and	and	CCONJ
fbem-875	222	16	shenzhen	shenzhen	PROPN
fbem-875	222	17	from	from	ADP
fbem-875	222	18	2015	2015	NUM
fbem-875	222	19	to	to	ADP
fbem-875	222	20	2019	2019	NUM
fbem-875	222	21	,	,	PUNCT
fbem-875	222	22	this	this	DET
fbem-875	222	23	paper	paper	NOUN
fbem-875	222	24	focuses	focus	VERB
fbem-875	222	25	on	on	ADP
fbem-875	222	26	the	the	DET
fbem-875	222	27	analysis	analysis	NOUN
fbem-875	222	28	of	of	ADP
fbem-875	222	29	the	the	DET
fbem-875	222	30	relationship	relationship	NOUN
fbem-875	222	31	between	between	ADP
fbem-875	222	32	debt	debt	NOUN
fbem-875	222	33	financing	financing	NOUN
fbem-875	222	34	and	and	CCONJ
fbem-875	222	35	corporate	corporate	ADJ
fbem-875	222	36	performance	performance	NOUN
fbem-875	222	37	,	,	PUNCT
fbem-875	222	38	and	and	CCONJ
fbem-875	222	39	analyzes	analyze	VERB
fbem-875	222	40	the	the	DET
fbem-875	222	41	moderating	moderate	VERB
fbem-875	222	42	effect	effect	NOUN
fbem-875	222	43	of	of	ADP
fbem-875	222	44	corporate	corporate	ADJ
fbem-875	222	45	responsibility	responsibility	NOUN
fbem-875	222	46	between	between	ADP
fbem-875	222	47	them	they	PRON
fbem-875	222	48	.	.	PUNCT
fbem-875	223	1	after	after	ADP
fbem-875	223	2	analysis	analysis	NOUN
fbem-875	223	3	,	,	PUNCT
fbem-875	223	4	the	the	DET
fbem-875	223	5	following	follow	VERB
fbem-875	223	6	conclusions	conclusion	NOUN
fbem-875	223	7	are	be	AUX
fbem-875	223	8	drawn	draw	VERB
fbem-875	223	9	:	:	PUNCT
fbem-875	223	10	first	first	ADV
fbem-875	223	11	,	,	PUNCT
fbem-875	223	12	the	the	PRON
fbem-875	223	13	higher	high	ADJ
fbem-875	223	14	the	the	DET
fbem-875	223	15	corporate	corporate	ADJ
fbem-875	223	16	debt	debt	NOUN
fbem-875	223	17	financing	financing	NOUN
fbem-875	223	18	,	,	PUNCT
fbem-875	223	19	the	the	PRON
fbem-875	223	20	lower	low	ADJ
fbem-875	223	21	the	the	DET
fbem-875	223	22	corporate	corporate	ADJ
fbem-875	223	23	performance	performance	NOUN
fbem-875	223	24	,	,	PUNCT
fbem-875	223	25	the	the	PRON
fbem-875	223	26	higher	high	ADJ
fbem-875	223	27	the	the	DET
fbem-875	223	28	corporate	corporate	ADJ
fbem-875	223	29	debt	debt	NOUN
fbem-875	223	30	financing	financing	NOUN
fbem-875	223	31	will	will	AUX
fbem-875	223	32	increase	increase	VERB
fbem-875	223	33	the	the	DET
fbem-875	223	34	risk	risk	NOUN
fbem-875	223	35	of	of	ADP
fbem-875	223	36	debt	debt	NOUN
fbem-875	223	37	default	default	NOUN
fbem-875	223	38	and	and	CCONJ
fbem-875	223	39	the	the	DET
fbem-875	223	40	risk	risk	NOUN
fbem-875	223	41	of	of	ADP
fbem-875	223	42	capital	capital	NOUN
fbem-875	223	43	debt	debt	NOUN
fbem-875	223	44	repayment	repayment	NOUN
fbem-875	223	45	,	,	PUNCT
fbem-875	223	46	enterprise	enterprise	NOUN
fbem-875	223	47	stakeholders	stakeholder	NOUN
fbem-875	223	48	will	will	AUX
fbem-875	223	49	charge	charge	VERB
fbem-875	223	50	risk	risk	NOUN
fbem-875	223	51	premium	premium	NOUN
fbem-875	223	52	to	to	ADP
fbem-875	223	53	enterprises	enterprise	NOUN
fbem-875	223	54	due	due	ADP
fbem-875	223	55	to	to	ADP
fbem-875	223	56	high	high	ADJ
fbem-875	223	57	risk	risk	NOUN
fbem-875	223	58	,	,	PUNCT
fbem-875	223	59	increase	increase	VERB
fbem-875	223	60	the	the	DET
fbem-875	223	61	financial	financial	ADJ
fbem-875	223	62	cost	cost	NOUN
fbem-875	223	63	of	of	ADP
fbem-875	223	64	enterprises	enterprise	NOUN
fbem-875	223	65	,	,	PUNCT
fbem-875	223	66	hinder	hinder	VERB
fbem-875	223	67	the	the	DET
fbem-875	223	68	improvement	improvement	NOUN
fbem-875	223	69	of	of	ADP
fbem-875	223	70	corporate	corporate	ADJ
fbem-875	223	71	profitability	profitability	NOUN
fbem-875	223	72	.	.	PUNCT
fbem-875	224	1	in	in	ADP
fbem-875	224	2	the	the	DET
fbem-875	224	3	case	case	NOUN
fbem-875	224	4	of	of	ADP
fbem-875	224	5	high	high	ADJ
fbem-875	224	6	debt	debt	NOUN
fbem-875	224	7	financing	financing	NOUN
fbem-875	224	8	,	,	PUNCT
fbem-875	224	9	enterprises	enterprise	NOUN
fbem-875	224	10	tend	tend	VERB
fbem-875	224	11	to	to	PART
fbem-875	224	12	invest	invest	VERB
fbem-875	224	13	in	in	ADP
fbem-875	224	14	risky	risky	ADJ
fbem-875	224	15	projects	project	NOUN
fbem-875	224	16	,	,	PUNCT
fbem-875	224	17	which	which	PRON
fbem-875	224	18	reduces	reduce	VERB
fbem-875	224	19	the	the	DET
fbem-875	224	20	investment	investment	NOUN
fbem-875	224	21	efficiency	efficiency	NOUN
fbem-875	224	22	and	and	CCONJ
fbem-875	224	23	innovation	innovation	NOUN
fbem-875	224	24	input	input	NOUN
fbem-875	224	25	of	of	ADP
fbem-875	224	26	enterprises	enterprise	NOUN
fbem-875	224	27	,	,	PUNCT
fbem-875	224	28	which	which	PRON
fbem-875	224	29	is	be	AUX
fbem-875	224	30	not	not	PART
fbem-875	224	31	conducive	conducive	ADJ
fbem-875	224	32	to	to	ADP
fbem-875	224	33	the	the	DET
fbem-875	224	34	long	long	ADJ
fbem-875	224	35	-	-	PUNCT
fbem-875	224	36	term	term	NOUN
fbem-875	224	37	development	development	NOUN
fbem-875	224	38	of	of	ADP
fbem-875	224	39	enterprises	enterprise	NOUN
fbem-875	224	40	.	.	PUNCT
fbem-875	225	1	therefore	therefore	ADV
fbem-875	225	2	,	,	PUNCT
fbem-875	225	3	enterprises	enterprise	NOUN
fbem-875	225	4	need	need	VERB
fbem-875	225	5	to	to	PART
fbem-875	225	6	reduce	reduce	VERB
fbem-875	225	7	corporate	corporate	ADJ
fbem-875	225	8	financing	financing	NOUN
fbem-875	225	9	to	to	PART
fbem-875	225	10	promote	promote	VERB
fbem-875	225	11	the	the	DET
fbem-875	225	12	improvement	improvement	NOUN
fbem-875	225	13	of	of	ADP
fbem-875	225	14	corporate	corporate	ADJ
fbem-875	225	15	performance	performance	NOUN
fbem-875	225	16	.	.	PUNCT
fbem-875	226	1	secondly	secondly	ADV
fbem-875	226	2	,	,	PUNCT
fbem-875	226	3	corporate	corporate	ADJ
fbem-875	226	4	social	social	ADJ
fbem-875	226	5	responsibility	responsibility	NOUN
fbem-875	226	6	helps	help	VERB
fbem-875	226	7	to	to	PART
fbem-875	226	8	reduce	reduce	VERB
fbem-875	226	9	debt	debt	NOUN
fbem-875	226	10	financing	financing	NOUN
fbem-875	226	11	,	,	PUNCT
fbem-875	226	12	and	and	CCONJ
fbem-875	226	13	can	can	AUX
fbem-875	226	14	positively	positively	ADV
fbem-875	226	15	adjust	adjust	VERB
fbem-875	226	16	the	the	DET
fbem-875	226	17	negative	negative	ADJ
fbem-875	226	18	effect	effect	NOUN
fbem-875	226	19	of	of	ADP
fbem-875	226	20	debt	debt	NOUN
fbem-875	226	21	financing	financing	NOUN
fbem-875	226	22	on	on	ADP
fbem-875	226	23	corporate	corporate	ADJ
fbem-875	226	24	performance	performance	NOUN
fbem-875	226	25	.	.	PUNCT
fbem-875	227	1	under	under	ADP
fbem-875	227	2	the	the	DET
fbem-875	227	3	supervision	supervision	NOUN
fbem-875	227	4	of	of	ADP
fbem-875	227	5	related	relate	VERB
fbem-875	227	6	interests	interest	NOUN
fbem-875	227	7	,	,	PUNCT
fbem-875	227	8	enterprises	enterprise	NOUN
fbem-875	227	9	will	will	AUX
fbem-875	227	10	reduce	reduce	VERB
fbem-875	227	11	their	their	PRON
fbem-875	227	12	investment	investment	NOUN
fbem-875	227	13	in	in	ADP
fbem-875	227	14	high	high	ADJ
fbem-875	227	15	-	-	PUNCT
fbem-875	227	16	risk	risk	NOUN
fbem-875	227	17	projects	project	NOUN
fbem-875	227	18	and	and	CCONJ
fbem-875	227	19	encourage	encourage	VERB
fbem-875	227	20	them	they	PRON
fbem-875	227	21	to	to	PART
fbem-875	227	22	choose	choose	VERB
fbem-875	227	23	low	low	ADJ
fbem-875	227	24	-	-	PUNCT
fbem-875	227	25	risk	risk	NOUN
fbem-875	227	26	investment	investment	NOUN
fbem-875	227	27	projects	project	NOUN
fbem-875	227	28	.	.	PUNCT
fbem-875	228	1	corporate	corporate	ADJ
fbem-875	228	2	social	social	ADJ
fbem-875	228	3	responsibility	responsibility	NOUN
fbem-875	228	4	can	can	AUX
fbem-875	228	5	reduce	reduce	VERB
fbem-875	228	6	debt	debt	NOUN
fbem-875	228	7	financing	financing	NOUN
fbem-875	228	8	and	and	CCONJ
fbem-875	228	9	improve	improve	VERB
fbem-875	228	10	corporate	corporate	ADJ
fbem-875	228	11	performance	performance	NOUN
fbem-875	228	12	.	.	PUNCT
fbem-875	229	1	third	third	ADJ
fbem-875	229	2	,	,	PUNCT
fbem-875	229	3	through	through	ADP
fbem-875	229	4	the	the	DET
fbem-875	229	5	analysis	analysis	NOUN
fbem-875	229	6	of	of	ADP
fbem-875	229	7	the	the	DET
fbem-875	229	8	five	five	NUM
fbem-875	229	9	dimensions	dimension	NOUN
fbem-875	229	10	of	of	ADP
fbem-875	229	11	corporate	corporate	ADJ
fbem-875	229	12	social	social	ADJ
fbem-875	229	13	responsibility	responsibility	NOUN
fbem-875	229	14	?	?	PUNCT
fbem-875	230	1	and	and	CCONJ
fbem-875	230	2	the	the	DET
fbem-875	230	3	relationship	relationship	NOUN
fbem-875	230	4	between	between	ADP
fbem-875	230	5	debt	debt	NOUN
fbem-875	230	6	financing	financing	NOUN
fbem-875	230	7	costs	cost	NOUN
fbem-875	230	8	,	,	PUNCT
fbem-875	230	9	the	the	DET
fbem-875	230	10	study	study	NOUN
fbem-875	230	11	found	find	VERB
fbem-875	230	12	that	that	SCONJ
fbem-875	230	13	the	the	DET
fbem-875	230	14	enterprises	enterprise	NOUN
fbem-875	230	15	to	to	PART
fbem-875	230	16	undertake	undertake	VERB
fbem-875	230	17	social	social	ADJ
fbem-875	230	18	responsibility	responsibility	NOUN
fbem-875	230	19	in	in	ADP
fbem-875	230	20	five	five	NUM
fbem-875	230	21	dimensions	dimension	NOUN
fbem-875	230	22	are	be	AUX
fbem-875	230	23	negatively	negatively	ADV
fbem-875	230	24	related	relate	VERB
fbem-875	230	25	to	to	ADP
fbem-875	230	26	the	the	DET
fbem-875	230	27	corporate	corporate	ADJ
fbem-875	230	28	debt	debt	NOUN
fbem-875	230	29	financing	financing	NOUN
fbem-875	230	30	,	,	PUNCT
fbem-875	230	31	corporate	corporate	ADJ
fbem-875	230	32	shareholder	shareholder	NOUN
fbem-875	230	33	responsibility	responsibility	NOUN
fbem-875	230	34	and	and	CCONJ
fbem-875	230	35	social	social	ADJ
fbem-875	230	36	responsibility	responsibility	NOUN
fbem-875	230	37	can	can	AUX
fbem-875	230	38	significantly	significantly	ADV
fbem-875	230	39	adjust	adjust	VERB
fbem-875	230	40	the	the	DET
fbem-875	230	41	debt	debt	NOUN
fbem-875	230	42	financing	financing	NOUN
fbem-875	230	43	cost	cost	NOUN
fbem-875	230	44	and	and	CCONJ
fbem-875	230	45	the	the	DET
fbem-875	230	46	relationship	relationship	NOUN
fbem-875	230	47	between	between	ADP
fbem-875	230	48	the	the	DET
fbem-875	230	49	corporate	corporate	ADJ
fbem-875	230	50	performance	performance	NOUN
fbem-875	230	51	,	,	PUNCT
fbem-875	230	52	which	which	PRON
fbem-875	230	53	reduce	reduce	VERB
fbem-875	230	54	the	the	DET
fbem-875	230	55	debt	debt	NOUN
fbem-875	230	56	financing	financing	NOUN
fbem-875	230	57	of	of	ADP
fbem-875	230	58	enterprises	enterprise	NOUN
fbem-875	230	59	,	,	PUNCT
fbem-875	230	60	and	and	CCONJ
fbem-875	230	61	further	far	ADV
fbem-875	230	62	promote	promote	VERB
fbem-875	230	63	the	the	DET
fbem-875	230	64	business	business	NOUN
fbem-875	230	65	performance	performance	NOUN
fbem-875	230	66	improvement	improvement	NOUN
fbem-875	230	67	.	.	PUNCT
fbem-875	231	1	5.2	5.2	NUM
fbem-875	231	2	.	.	PUNCT
fbem-875	231	3	suggestions	suggestion	NOUN
fbem-875	231	4	by	by	ADP
fbem-875	231	5	analyzing	analyze	VERB
fbem-875	231	6	the	the	DET
fbem-875	231	7	relationship	relationship	NOUN
fbem-875	231	8	between	between	ADP
fbem-875	231	9	debt	debt	NOUN
fbem-875	231	10	financing	financing	NOUN
fbem-875	231	11	and	and	CCONJ
fbem-875	231	12	corporate	corporate	ADJ
fbem-875	231	13	performance	performance	NOUN
fbem-875	231	14	and	and	CCONJ
fbem-875	231	15	the	the	DET
fbem-875	231	16	moderating	moderate	VERB
fbem-875	231	17	effect	effect	NOUN
fbem-875	231	18	of	of	ADP
fbem-875	231	19	corporate	corporate	ADJ
fbem-875	231	20	social	social	ADJ
fbem-875	231	21	responsibility	responsibility	NOUN
fbem-875	231	22	between	between	ADP
fbem-875	231	23	them	they	PRON
fbem-875	231	24	,	,	PUNCT
fbem-875	231	25	this	this	DET
fbem-875	231	26	paper	paper	NOUN
fbem-875	231	27	puts	put	VERB
fbem-875	231	28	forward	forward	ADV
fbem-875	231	29	the	the	DET
fbem-875	231	30	following	follow	VERB
fbem-875	231	31	suggestions	suggestion	NOUN
fbem-875	231	32	on	on	ADP
fbem-875	231	33	how	how	SCONJ
fbem-875	231	34	to	to	PART
fbem-875	231	35	improve	improve	VERB
fbem-875	231	36	corporate	corporate	ADJ
fbem-875	231	37	performance	performance	NOUN
fbem-875	231	38	:	:	PUNCT
fbem-875	231	39	first	first	ADV
fbem-875	231	40	,	,	PUNCT
fbem-875	231	41	companies	company	NOUN
fbem-875	231	42	need	need	VERB
fbem-875	231	43	to	to	PART
fbem-875	231	44	actively	actively	ADV
fbem-875	231	45	undertake	undertake	VERB
fbem-875	231	46	social	social	ADJ
fbem-875	231	47	responsibility	responsibility	NOUN
fbem-875	231	48	,	,	PUNCT
fbem-875	231	49	combined	combine	VERB
fbem-875	231	50	with	with	ADP
fbem-875	231	51	the	the	DET
fbem-875	231	52	current	current	ADJ
fbem-875	231	53	epidemic	epidemic	NOUN
fbem-875	231	54	situation	situation	NOUN
fbem-875	231	55	,	,	PUNCT
fbem-875	231	56	the	the	DET
fbem-875	231	57	government	government	NOUN
fbem-875	231	58	of	of	ADP
fbem-875	231	59	the	the	DET
fbem-875	231	60	corresponding	correspond	VERB
fbem-875	231	61	call	call	NOUN
fbem-875	231	62	to	to	PART
fbem-875	231	63	pay	pay	VERB
fbem-875	231	64	attention	attention	NOUN
fbem-875	231	65	to	to	ADP
fbem-875	231	66	the	the	DET
fbem-875	231	67	interests	interest	NOUN
fbem-875	231	68	of	of	ADP
fbem-875	231	69	enterprise	enterprise	NOUN
fbem-875	231	70	employees	employee	NOUN
fbem-875	231	71	and	and	CCONJ
fbem-875	231	72	other	other	ADJ
fbem-875	231	73	stakeholders	stakeholder	NOUN
fbem-875	231	74	,	,	PUNCT
fbem-875	231	75	to	to	PART
fbem-875	231	76	strengthen	strengthen	VERB
fbem-875	231	77	links	link	NOUN
fbem-875	231	78	with	with	ADP
fbem-875	231	79	the	the	DET
fbem-875	231	80	government	government	NOUN
fbem-875	231	81	actively	actively	ADV
fbem-875	231	82	makes	make	VERB
fbem-875	231	83	charitable	charitable	ADJ
fbem-875	231	84	donations	donation	NOUN
fbem-875	231	85	,	,	PUNCT
fbem-875	231	86	the	the	DET
fbem-875	231	87	enterprise	enterprise	NOUN
fbem-875	231	88	bear	bear	VERB
fbem-875	231	89	the	the	DET
fbem-875	231	90	social	social	ADJ
fbem-875	231	91	responsibility	responsibility	NOUN
fbem-875	231	92	of	of	ADP
fbem-875	231	93	the	the	DET
fbem-875	231	94	good	good	ADJ
fbem-875	231	95	cultural	cultural	ADJ
fbem-875	231	96	atmosphere	atmosphere	NOUN
fbem-875	231	97	,	,	PUNCT
fbem-875	231	98	establish	establish	VERB
fbem-875	231	99	a	a	DET
fbem-875	231	100	good	good	ADJ
fbem-875	231	101	corporate	corporate	ADJ
fbem-875	231	102	image	image	NOUN
fbem-875	231	103	,	,	PUNCT
fbem-875	231	104	reduce	reduce	VERB
fbem-875	231	105	the	the	DET
fbem-875	231	106	debt	debt	NOUN
fbem-875	231	107	financing	financing	NOUN
fbem-875	231	108	of	of	ADP
fbem-875	231	109	enterprises	enterprise	NOUN
fbem-875	231	110	,	,	PUNCT
fbem-875	231	111	improve	improve	VERB
fbem-875	231	112	enterprise	enterprise	NOUN
fbem-875	231	113	performance	performance	NOUN
fbem-875	231	114	.	.	PUNCT
fbem-875	232	1	second	second	ADJ
fbem-875	232	2	,	,	PUNCT
fbem-875	232	3	government	government	NOUN
fbem-875	232	4	departments	department	NOUN
fbem-875	232	5	through	through	ADP
fbem-875	232	6	policy	policy	NOUN
fbem-875	232	7	encourage	encourage	NOUN
fbem-875	232	8	enterprises	enterprise	NOUN
fbem-875	232	9	to	to	PART
fbem-875	232	10	actively	actively	ADV
fbem-875	232	11	undertake	undertake	VERB
fbem-875	232	12	social	social	ADJ
fbem-875	232	13	responsibility	responsibility	NOUN
fbem-875	232	14	,	,	PUNCT
fbem-875	232	15	intensify	intensify	VERB
fbem-875	232	16	policy	policy	NOUN
fbem-875	232	17	support	support	NOUN
fbem-875	232	18	to	to	PART
fbem-875	232	19	bear	bear	VERB
fbem-875	232	20	the	the	DET
fbem-875	232	21	social	social	ADJ
fbem-875	232	22	responsibility	responsibility	NOUN
fbem-875	232	23	of	of	ADP
fbem-875	232	24	enterprises	enterprise	NOUN
fbem-875	232	25	,	,	PUNCT
fbem-875	232	26	to	to	PART
fbem-875	232	27	actively	actively	ADV
fbem-875	232	28	undertake	undertake	VERB
fbem-875	232	29	the	the	DET
fbem-875	232	30	social	social	ADJ
fbem-875	232	31	responsibility	responsibility	NOUN
fbem-875	232	32	of	of	ADP
fbem-875	232	33	the	the	DET
fbem-875	232	34	enterprise	enterprise	NOUN
fbem-875	232	35	to	to	PART
fbem-875	232	36	give	give	VERB
fbem-875	232	37	preferential	preferential	ADJ
fbem-875	232	38	tax	tax	NOUN
fbem-875	232	39	policies	policy	NOUN
fbem-875	232	40	,	,	PUNCT
fbem-875	232	41	and	and	CCONJ
fbem-875	232	42	to	to	PART
fbem-875	232	43	give	give	VERB
fbem-875	232	44	honor	honor	NOUN
fbem-875	232	45	or	or	CCONJ
fbem-875	232	46	bonuses	bonus	NOUN
fbem-875	232	47	,	,	PUNCT
fbem-875	232	48	and	and	CCONJ
fbem-875	232	49	carries	carry	VERB
fbem-875	232	50	on	on	ADP
fbem-875	232	51	the	the	DET
fbem-875	232	52	propaganda	propaganda	NOUN
fbem-875	232	53	in	in	ADP
fbem-875	232	54	the	the	DET
fbem-875	232	55	society	society	NOUN
fbem-875	232	56	,	,	PUNCT
fbem-875	232	57	to	to	PART
fbem-875	232	58	ignore	ignore	VERB
fbem-875	232	59	corporate	corporate	ADJ
fbem-875	232	60	social	social	ADJ
fbem-875	232	61	responsibility	responsibility	NOUN
fbem-875	232	62	and	and	CCONJ
fbem-875	232	63	damage	damage	VERB
fbem-875	232	64	the	the	DET
fbem-875	232	65	interests	interest	NOUN
fbem-875	232	66	of	of	ADP
fbem-875	232	67	the	the	DET
fbem-875	232	68	public	public	ADJ
fbem-875	232	69	enterprise	enterprise	NOUN
fbem-875	232	70	is	be	AUX
fbem-875	232	71	increasing	increase	VERB
fbem-875	232	72	punishment	punishment	NOUN
fbem-875	232	73	for	for	ADP
fbem-875	232	74	it	it	PRON
fbem-875	232	75	,	,	PUNCT
fbem-875	232	76	to	to	PART
fbem-875	232	77	guide	guide	VERB
fbem-875	232	78	enterprises	enterprise	NOUN
fbem-875	232	79	to	to	PART
fbem-875	232	80	pay	pay	VERB
fbem-875	232	81	attention	attention	NOUN
fbem-875	232	82	to	to	ADP
fbem-875	232	83	and	and	CCONJ
fbem-875	232	84	actively	actively	ADV
fbem-875	232	85	undertake	undertake	VERB
fbem-875	232	86	corporate	corporate	ADJ
fbem-875	232	87	social	social	ADJ
fbem-875	232	88	responsibility	responsibility	NOUN
fbem-875	232	89	.	.	PUNCT
fbem-875	233	1	finally	finally	ADV
fbem-875	233	2	,	,	PUNCT
fbem-875	233	3	the	the	DET
fbem-875	233	4	promotion	promotion	NOUN
fbem-875	233	5	enterprise	enterprise	NOUN
fbem-875	233	6	's	's	PART
fbem-875	233	7	overall	overall	ADJ
fbem-875	233	8	leverage	leverage	NOUN
fbem-875	233	9	,	,	PUNCT
fbem-875	233	10	will	will	AUX
fbem-875	233	11	be	be	AUX
fbem-875	233	12	conducive	conducive	ADJ
fbem-875	233	13	to	to	ADP
fbem-875	233	14	the	the	DET
fbem-875	233	15	improvement	improvement	NOUN
fbem-875	233	16	of	of	ADP
fbem-875	233	17	enterprise	enterprise	NOUN
fbem-875	233	18	operating	operating	NOUN
fbem-875	233	19	performance	performance	NOUN
fbem-875	233	20	,	,	PUNCT
fbem-875	233	21	the	the	DET
fbem-875	233	22	need	need	NOUN
fbem-875	233	23	to	to	PART
fbem-875	233	24	make	make	VERB
fbem-875	233	25	full	full	ADJ
fbem-875	233	26	use	use	NOUN
fbem-875	233	27	of	of	ADP
fbem-875	233	28	the	the	DET
fbem-875	233	29	resources	resource	NOUN
fbem-875	233	30	of	of	ADP
fbem-875	233	31	our	our	PRON
fbem-875	233	32	capital	capital	NOUN
fbem-875	233	33	market	market	NOUN
fbem-875	233	34	,	,	PUNCT
fbem-875	233	35	listed	list	VERB
fbem-875	233	36	companies	company	NOUN
fbem-875	233	37	improve	improve	VERB
fbem-875	233	38	enterprise	enterprise	NOUN
fbem-875	233	39	direct	direct	ADJ
fbem-875	233	40	financing	financing	NOUN
fbem-875	233	41	ability	ability	NOUN
fbem-875	233	42	,	,	PUNCT
fbem-875	233	43	to	to	PART
fbem-875	233	44	reduce	reduce	VERB
fbem-875	233	45	the	the	DET
fbem-875	233	46	debt	debt	NOUN
fbem-875	233	47	financing	financing	NOUN
fbem-875	233	48	and	and	CCONJ
fbem-875	233	49	guard	guard	VERB
fbem-875	233	50	against	against	ADP
fbem-875	233	51	enterprise	enterprise	NOUN
fbem-875	233	52	financial	financial	ADJ
fbem-875	233	53	risk	risk	NOUN
fbem-875	233	54	focus	focus	NOUN
fbem-875	233	55	on	on	ADP
fbem-875	233	56	implementation	implementation	NOUN
fbem-875	233	57	of	of	ADP
fbem-875	233	58	the	the	DET
fbem-875	233	59	capital	capital	NOUN
fbem-875	233	60	increase	increase	NOUN
fbem-875	233	61	of	of	ADP
fbem-875	233	62	channels	channel	NOUN
fbem-875	233	63	,	,	PUNCT
fbem-875	233	64	actively	actively	ADV
fbem-875	233	65	promoting	promote	VERB
fbem-875	233	66	quality	quality	NOUN
fbem-875	233	67	enterprises	enterprise	NOUN
fbem-875	233	68	listed	list	VERB
fbem-875	233	69	financing	financing	NOUN
fbem-875	233	70	,	,	PUNCT
fbem-875	233	71	guide	guide	VERB
fbem-875	233	72	the	the	DET
fbem-875	233	73	folk	folk	NOUN
fbem-875	233	74	capital	capital	NOUN
fbem-875	233	75	investment	investment	NOUN
fbem-875	233	76	,	,	PUNCT
fbem-875	233	77	promote	promote	VERB
fbem-875	233	78	enterprise	enterprise	NOUN
fbem-875	233	79	transformation	transformation	NOUN
fbem-875	233	80	and	and	CCONJ
fbem-875	233	81	upgrading	upgrading	NOUN
fbem-875	233	82	and	and	CCONJ
fbem-875	233	83	improve	improve	VERB
fbem-875	233	84	performance	performance	NOUN
fbem-875	233	85	.	.	PUNCT
fbem-875	233	86	　 	　 	SPACE
fbem-875	233	87	references	reference	NOUN
fbem-875	233	88	[	[	X
fbem-875	233	89	1	1	NUM
fbem-875	233	90	]	]	PUNCT
fbem-875	233	91	zhang	zhang	PROPN
fbem-875	233	92	yilin	yilin	PROPN
fbem-875	233	93	,	,	PUNCT
fbem-875	233	94	pu	pu	PROPN
fbem-875	233	95	ming	ming	PROPN
fbem-875	233	96	.	.	PUNCT
fbem-875	234	1	debt	debt	NOUN
fbem-875	234	2	rollover	rollover	NOUN
fbem-875	234	3	and	and	CCONJ
fbem-875	234	4	structural	structural	ADJ
fbem-875	234	5	deleveraging	deleveraging	NOUN
fbem-875	235	1	[	[	X
fbem-875	235	2	j	j	X
fbem-875	235	3	]	]	X
fbem-875	235	4	.	.	PUNCT
fbem-875	236	1	economic	economic	ADJ
fbem-875	236	2	research	research	NOUN
fbem-875	236	3	journal,2018	journal,2018	NOUN
fbem-875	236	4	(	(	PUNCT
fbem-875	236	5	7	7	NUM
fbem-875	236	6	)	)	PUNCT
fbem-875	236	7	.	.	PUNCT
fbem-875	237	1	[	[	X
fbem-875	237	2	2	2	X
fbem-875	237	3	]	]	X
fbem-875	237	4	jin	jin	PROPN
fbem-875	237	5	penghui	penghui	PROPN
fbem-875	237	6	,	,	PUNCT
fbem-875	237	7	wang	wang	PROPN
fbem-875	237	8	ying	ying	PROPN
fbem-875	237	9	,	,	PUNCT
fbem-875	237	10	zhang	zhang	PROPN
fbem-875	237	11	liguang	liguang	PROPN
fbem-875	237	12	.	.	PUNCT
fbem-875	238	1	financial	financial	ADJ
fbem-875	238	2	friction	friction	NOUN
fbem-875	238	3	and	and	CCONJ
fbem-875	238	4	leverage	leverage	NOUN
fbem-875	238	5	governance	governance	NOUN
fbem-875	238	6	under	under	ADP
fbem-875	238	7	the	the	DET
fbem-875	238	8	condition	condition	NOUN
fbem-875	238	9	of	of	ADP
fbem-875	238	10	steady	steady	ADJ
fbem-875	238	11	growth	growth	NOUN
fbem-875	239	1	[	[	X
fbem-875	239	2	j	j	X
fbem-875	239	3	]	]	X
fbem-875	239	4	.	.	PUNCT
fbem-875	240	1	financial	financial	ADJ
fbem-875	240	2	research,2017	research,2017	X
fbem-875	240	3	(	(	PUNCT
fbem-875	240	4	4	4	NUM
fbem-875	240	5	)	)	PUNCT
fbem-875	240	6	.	.	PUNCT
fbem-875	241	1	[	[	X
fbem-875	241	2	3	3	X
fbem-875	241	3	]	]	X
fbem-875	241	4	wang	wang	PROPN
fbem-875	241	5	yong	yong	PROPN
fbem-875	241	6	,	,	PUNCT
fbem-875	241	7	ma	ma	PROPN
fbem-875	241	8	xinbin	xinbin	PROPN
fbem-875	241	9	,	,	PUNCT
fbem-875	241	10	zhou	zhou	PROPN
fbem-875	241	11	junyang	junyang	PROPN
fbem-875	241	12	.	.	PUNCT
fbem-875	242	1	monetary	monetary	ADJ
fbem-875	242	2	policy	policy	NOUN
fbem-875	242	3	and	and	CCONJ
fbem-875	242	4	heterogeneous	heterogeneous	ADJ
fbem-875	242	5	firm	firm	ADJ
fbem-875	242	6	leverage	leverage	NOUN
fbem-875	242	7	ratio	ratio	NOUN
fbem-875	242	8	:	:	PUNCT
fbem-875	242	9	based	base	VERB
fbem-875	242	10	on	on	ADP
fbem-875	242	11	the	the	DET
fbem-875	242	12	perspective	perspective	NOUN
fbem-875	242	13	of	of	ADP
fbem-875	242	14	vertical	vertical	ADJ
fbem-875	242	15	industrial	industrial	ADJ
fbem-875	242	16	structure	structure	NOUN
fbem-875	243	1	[	[	X
fbem-875	243	2	j	j	X
fbem-875	243	3	]	]	X
fbem-875	243	4	.	.	PUNCT
fbem-875	244	1	financial	financial	ADJ
fbem-875	244	2	research,2018(5	research,2018(5	PROPN
fbem-875	244	3	)	)	PUNCT
fbem-875	244	4	.	.	PUNCT
fbem-875	245	1	[	[	X
fbem-875	245	2	4	4	NUM
fbem-875	245	3	]	]	X
fbem-875	245	4	li	li	PROPN
fbem-875	245	5	shu	shu	PROPN
fbem-875	245	6	,	,	PUNCT
fbem-875	245	7	zhao	zhao	PROPN
fbem-875	245	8	ying	ying	PROPN
fbem-875	245	9	,	,	PUNCT
fbem-875	245	10	tong	tong	PROPN
fbem-875	245	11	jing	jing	PROPN
fbem-875	245	12	.	.	PUNCT
fbem-875	245	13	does	do	AUX
fbem-875	245	14	csr	csr	NOUN
fbem-875	245	15	reporting	reporting	NOUN
fbem-875	245	16	reduce	reduce	VERB
fbem-875	245	17	the	the	DET
fbem-875	245	18	cost	cost	NOUN
fbem-875	245	19	of	of	ADP
fbem-875	245	20	equity	equity	NOUN
fbem-875	245	21	capital	capital	NOUN
fbem-875	245	22	for	for	ADP
fbem-875	245	23	companies?-empirical	companies?-empirical	ADJ
fbem-875	245	24	evidence	evidence	NOUN
fbem-875	245	25	from	from	ADP
fbem-875	245	26	china	china	PROPN
fbem-875	245	27	's	's	PART
fbem-875	245	28	capital	capital	NOUN
fbem-875	245	29	market	market	NOUN
fbem-875	246	1	[	[	X
fbem-875	246	2	j	j	X
fbem-875	246	3	]	]	X
fbem-875	246	4	.	.	PUNCT
fbem-875	247	1	accounting	account	VERB
fbem-875	247	2	research,2013(9	research,2013(9	PROPN
fbem-875	247	3	)	)	PUNCT
fbem-875	247	4	.	.	PUNCT
fbem-875	248	1	[	[	X
fbem-875	248	2	5	5	NUM
fbem-875	248	3	]	]	PUNCT
fbem-875	248	4	song	song	NOUN
fbem-875	248	5	lin	lin	PROPN
fbem-875	248	6	,	,	PUNCT
fbem-875	248	7	wang	wang	PROPN
fbem-875	248	8	jianling	jianling	PROPN
fbem-875	248	9	,	,	PUNCT
fbem-875	248	10	yao	yao	PROPN
fbem-875	248	11	shujie	shujie	PROPN
fbem-875	248	12	.	.	PUNCT
fbem-875	249	1	the	the	DET
fbem-875	249	2	influence	influence	NOUN
fbem-875	249	3	factors	factor	NOUN
fbem-875	249	4	of	of	ADP
fbem-875	249	5	social	social	ADJ
fbem-875	249	6	responsibility	responsibility	NOUN
fbem-875	249	7	information	information	NOUN
fbem-875	249	8	disclosure	disclosure	NOUN
fbem-875	249	9	in	in	ADP
fbem-875	249	10	the	the	DET
fbem-875	249	11	annual	annual	ADJ
fbem-875	249	12	report	report	NOUN
fbem-875	249	13	of	of	ADP
fbem-875	249	14	listed	list	VERB
fbem-875	249	15	companies	company	NOUN
fbem-875	249	16	:	:	PUNCT
fbem-875	249	17	a	a	DET
fbem-875	249	18	study	study	NOUN
fbem-875	249	19	from	from	ADP
fbem-875	249	20	the	the	DET
fbem-875	249	21	perspective	perspective	NOUN
fbem-875	249	22	of	of	ADP
fbem-875	249	23	legitimacy	legitimacy	NOUN
fbem-875	249	24	[	[	X
fbem-875	249	25	j	j	X
fbem-875	249	26	]	]	X
fbem-875	249	27	.	.	PUNCT
fbem-875	250	1	economic	economic	ADJ
fbem-875	250	2	management,2012(2	management,2012(2	PROPN
fbem-875	250	3	)	)	PUNCT
fbem-875	250	4	.	.	PUNCT
fbem-875	251	1	[	[	X
fbem-875	251	2	6	6	NUM
fbem-875	251	3	]	]	SYM
fbem-875	251	4	cespa	cespa	NOUN
fbem-875	251	5	,	,	PUNCT
fbem-875	251	6	cestone	cestone	NOUN
fbem-875	251	7	.	.	PUNCT
fbem-875	252	1	corporate	corporate	ADJ
fbem-875	252	2	social	social	ADJ
fbem-875	252	3	responsibility	responsibility	NOUN
fbem-875	252	4	and	and	CCONJ
fbem-875	252	5	managerial	managerial	ADJ
fbem-875	252	6	entrenparchment	entrenparchment	NOUN
fbem-875	253	1	[	[	X
fbem-875	253	2	j].journal	j].journal	NOUN
fbem-875	253	3	of	of	ADP
fbem-875	253	4	economic	economic	ADJ
fbem-875	253	5	and	and	CCONJ
fbem-875	253	6	man	man	NOUN
fbem-875	253	7	-	-	PUNCT
fbem-875	253	8	agement	agement	NOUN
fbem-875	253	9	strategy,2007(3	strategy,2007(3	PROPN
fbem-875	253	10	)	)	PUNCT
fbem-875	254	1	[	[	X
fbem-875	254	2	7	7	X
fbem-875	254	3	]	]	X
fbem-875	254	4	quan	quan	PROPN
fbem-875	254	5	xiaofeng	xiaofeng	PROPN
fbem-875	254	6	,	,	PUNCT
fbem-875	254	7	wu	wu	PROPN
fbem-875	254	8	shinong	shinong	PROPN
fbem-875	254	9	,	,	PUNCT
fbem-875	254	10	yin	yin	PROPN
fbem-875	254	11	hongying	hongying	NOUN
fbem-875	254	12	.	.	PUNCT
fbem-875	255	1	corporate	corporate	ADJ
fbem-875	255	2	social	social	ADJ
fbem-875	255	3	responsibility	responsibility	NOUN
fbem-875	255	4	and	and	CCONJ
fbem-875	255	5	stock	stock	NOUN
fbem-875	255	6	price	price	NOUN
fbem-875	255	7	crash	crash	NOUN
fbem-875	255	8	risk	risk	NOUN
fbem-875	255	9	:	:	PUNCT
fbem-875	255	10	"	"	PUNCT
fbem-875	255	11	value	value	NOUN
fbem-875	255	12	weapon	weapon	NOUN
fbem-875	255	13	"	"	PUNCT
fbem-875	255	14	or	or	CCONJ
fbem-875	255	15	"	"	PUNCT
fbem-875	255	16	self	self	NOUN
fbem-875	255	17	-	-	PUNCT
fbem-875	255	18	interested	interest	VERB
fbem-875	255	19	tool	tool	NOUN
fbem-875	255	20	"	"	PUNCT
fbem-875	255	21	?	?	PUNCT
fbem-875	256	1	[	[	X
fbem-875	256	2	j	j	X
fbem-875	256	3	]	]	X
fbem-875	256	4	.	.	PUNCT
fbem-875	257	1	economic	economic	ADJ
fbem-875	257	2	research	research	PROPN
fbem-875	257	3	journal,2015(11	journal,2015(11	PROPN
fbem-875	257	4	)	)	PUNCT
fbem-875	257	5	.	.	PUNCT
fbem-875	258	1	[	[	X
fbem-875	258	2	8	8	NUM
fbem-875	258	3	]	]	X
fbem-875	258	4	jensen	jensen	PROPN
fbem-875	258	5	m	m	PROPN
fbem-875	258	6	c	c	NOUN
fbem-875	258	7	,	,	PUNCT
fbem-875	258	8	meckling	meckle	VERB
fbem-875	258	9	w	w	PROPN
fbem-875	258	10	h.	h.	PROPN
fbem-875	258	11	theory	theory	NOUN
fbem-875	258	12	of	of	ADP
fbem-875	258	13	the	the	DET
fbem-875	258	14	firm	firm	NOUN
fbem-875	258	15	:	:	PUNCT
fbem-875	258	16	managerial	managerial	ADJ
fbem-875	258	17	behavior	behavior	NOUN
fbem-875	258	18	,	,	PUNCT
fbem-875	258	19	agency	agency	NOUN
fbem-875	258	20	costs	cost	NOUN
fbem-875	258	21	and	and	CCONJ
fbem-875	258	22	ownership	ownership	NOUN
fbem-875	258	23	structure[j	structure[j	NOUN
fbem-875	258	24	]	]	PUNCT
fbem-875	258	25	.	.	PUNCT
fbem-875	259	1	journal	journal	PROPN
fbem-875	259	2	of	of	ADP
fbem-875	259	3	financial	financial	ADJ
fbem-875	259	4	economics	economic	NOUN
fbem-875	259	5	,	,	PUNCT
fbem-875	259	6	1976	1976	NUM
fbem-875	259	7	(	(	PUNCT
fbem-875	259	8	4	4	NUM
fbem-875	259	9	)	)	PUNCT
fbem-875	259	10	.	.	PUNCT
fbem-875	260	1	[	[	X
fbem-875	260	2	9	9	NUM
fbem-875	260	3	]	]	PUNCT
fbem-875	260	4	qi	qi	PROPN
fbem-875	260	5	haodong	haodong	PROPN
fbem-875	260	6	,	,	PUNCT
fbem-875	260	7	liu	liu	PROPN
fbem-875	260	8	hao	hao	PROPN
fbem-875	260	9	,	,	PUNCT
fbem-875	260	10	zhu	zhu	PROPN
fbem-875	260	11	wei	wei	PROPN
fbem-875	260	12	.	.	PUNCT
fbem-875	261	1	a	a	DET
fbem-875	261	2	study	study	NOUN
fbem-875	261	3	on	on	ADP
fbem-875	261	4	the	the	DET
fbem-875	261	5	"	"	PUNCT
fbem-875	261	6	deleveraging	deleveraging	NOUN
fbem-875	261	7	"	"	PUNCT
fbem-875	261	8	performance	performance	NOUN
fbem-875	261	9	of	of	ADP
fbem-875	261	10	over	over	ADV
fbem-875	261	11	-	-	PUNCT
fbem-875	261	12	indebted	indebte	VERB
fbem-875	261	13	enterprises	enterprise	NOUN
fbem-875	261	14	,	,	PUNCT
fbem-875	261	15	accounting	accounting	NOUN
fbem-875	261	16	research	research	NOUN
fbem-875	261	17	.	.	PUNCT
fbem-875	262	1	2018(12	2018(12	NUM
fbem-875	262	2	)	)	PUNCT
fbem-875	263	1	[	[	X
fbem-875	263	2	10	10	NUM
fbem-875	263	3	]	]	X
fbem-875	263	4	ma	ma	PROPN
fbem-875	263	5	hong	hong	PROPN
fbem-875	263	6	,	,	PUNCT
fbem-875	263	7	wang	wang	PROPN
fbem-875	263	8	yuanyue	yuanyue	PROPN
fbem-875	263	9	.	.	PUNCT
fbem-875	264	1	can	can	AUX
fbem-875	264	2	deleveraging	deleverage	VERB
fbem-875	264	3	improve	improve	VERB
fbem-875	264	4	the	the	DET
fbem-875	264	5	investment	investment	NOUN
fbem-875	264	6	efficiency	efficiency	NOUN
fbem-875	264	7	of	of	ADP
fbem-875	264	8	enterprises?-empirical	enterprises?-empirical	ADJ
fbem-875	264	9	analysis	analysis	NOUN
fbem-875	264	10	based	base	VERB
fbem-875	264	11	on	on	ADP
fbem-875	264	12	the	the	DET
fbem-875	264	13	empirical	empirical	ADJ
fbem-875	264	14	data	datum	NOUN
fbem-875	264	15	of	of	ADP
fbem-875	264	16	china	china	PROPN
fbem-875	264	17	's	's	PART
fbem-875	264	18	listed	list	VERB
fbem-875	264	19	companies	company	NOUN
fbem-875	265	1	[	[	X
fbem-875	265	2	j	j	X
fbem-875	265	3	]	]	X
fbem-875	265	4	.	.	PUNCT
fbem-875	266	1	securities	security	NOUN
fbem-875	266	2	market	market	NOUN
fbem-875	266	3	review,2017(5	review,2017(5	PROPN
fbem-875	266	4	)	)	PUNCT
fbem-875	266	5	.	.	PUNCT
fbem-875	267	1	[	[	X
fbem-875	267	2	11	11	NUM
fbem-875	267	3	]	]	SYM
fbem-875	267	4	parrino	parrino	NOUN
fbem-875	267	5	r	r	NOUN
fbem-875	267	6	,	,	PUNCT
fbem-875	267	7	weisbach	weisbach	NOUN
fbem-875	267	8	m	m	AUX
fbem-875	267	9	s.measuring	s.measure	VERB
fbem-875	267	10	investment	investment	NOUN
fbem-875	267	11	distortions	distortion	NOUN
fbem-875	267	12	arising	arise	VERB
fbem-875	267	13	from	from	ADP
fbem-875	267	14	stockholder	stockholder	NOUN
fbem-875	267	15	bondholder	bondholder	NOUN
fbem-875	267	16	conflicts[j].journal	conflicts[j].journal	NOUN
fbem-875	267	17	of	of	ADP
fbem-875	267	18	financial	financial	ADJ
fbem-875	267	19	economics,1999(1	economics,1999(1	NOUN
fbem-875	267	20	)	)	PUNCT
fbem-875	268	1	[	[	X
fbem-875	268	2	12	12	NUM
fbem-875	268	3	]	]	PUNCT
fbem-875	268	4	xu	xu	PROPN
fbem-875	268	5	pengjie	pengjie	PROPN
fbem-875	268	6	,	,	PUNCT
fbem-875	268	7	ma	ma	PROPN
fbem-875	268	8	zhongdong	zhongdong	PROPN
fbem-875	268	9	,	,	PUNCT
fbem-875	268	10	wang	wang	PROPN
fbem-875	268	11	jinhe	jinhe	PROPN
fbem-875	268	12	.	.	PUNCT
fbem-875	269	1	deleveraging	deleverage	VERB
fbem-875	269	2	policy	policy	NOUN
fbem-875	269	3	,	,	PUNCT
fbem-875	269	4	pollution	pollution	NOUN
fbem-875	269	5	control	control	NOUN
fbem-875	269	6	and	and	CCONJ
fbem-875	269	7	transformation	transformation	NOUN
fbem-875	269	8	and	and	CCONJ
fbem-875	269	9	upgrading	upgrading	NOUN
fbem-875	269	10	of	of	ADP
fbem-875	269	11	china	china	PROPN
fbem-875	269	12	's	's	PART
fbem-875	269	13	manufacturing	manufacturing	NOUN
fbem-875	269	14	industry	industry	NOUN
fbem-875	270	1	[	[	X
fbem-875	270	2	j	j	X
fbem-875	270	3	]	]	X
fbem-875	270	4	.	.	PUNCT
fbem-875	271	1	reform	reform	NOUN
fbem-875	271	2	of	of	ADP
fbem-875	271	3	economic	economic	ADJ
fbem-875	271	4	system,2019(6	system,2019(6	PROPN
fbem-875	271	5	)	)	PUNCT
fbem-875	271	6	.	.	PUNCT
fbem-875	272	1	[	[	X
fbem-875	272	2	13	13	NUM
fbem-875	272	3	]	]	X
fbem-875	272	4	wang	wang	PROPN
fbem-875	272	5	xiaohua	xiaohua	PROPN
fbem-875	272	6	.	.	PUNCT
fbem-875	273	1	on	on	ADP
fbem-875	273	2	the	the	DET
fbem-875	273	3	main	main	ADJ
fbem-875	273	4	ways	way	NOUN
fbem-875	273	5	to	to	PART
fbem-875	273	6	improve	improve	VERB
fbem-875	273	7	the	the	DET
fbem-875	273	8	governance	governance	NOUN
fbem-875	273	9	structure	structure	NOUN
fbem-875	273	10	of	of	ADP
fbem-875	273	11	state	state	NOUN
fbem-875	273	12	-	-	PUNCT
fbem-875	273	13	owned	own	VERB
fbem-875	273	14	enterprises	enterprise	NOUN
fbem-875	273	15	[	[	X
fbem-875	273	16	j	j	X
fbem-875	273	17	]	]	X
fbem-875	273	18	.	.	PUNCT
fbem-875	274	1	president	president	PROPN
fbem-875	274	2	,	,	PUNCT
fbem-875	274	3	2009(1	2009(1	NUM
fbem-875	274	4	)	)	PUNCT
fbem-875	274	5	.	.	PUNCT
fbem-875	275	1	[	[	X
fbem-875	275	2	14	14	NUM
fbem-875	275	3	]	]	X
fbem-875	275	4	berk	berk	PROPN
fbem-875	275	5	j	j	PROPN
fbem-875	275	6	b	b	PROPN
fbem-875	275	7	,	,	PUNCT
fbem-875	275	8	stanton	stanton	PROPN
fbem-875	275	9	r	r	PROPN
fbem-875	275	10	,	,	PUNCT
fbem-875	275	11	zechner	zechner	NOUN
fbem-875	275	12	j.	j.	PROPN
fbem-875	275	13	human	human	PROPN
fbem-875	275	14	capital	capital	PROPN
fbem-875	275	15	,	,	PUNCT
fbem-875	275	16	bankruptcy	bankruptcy	NOUN
fbem-875	275	17	,	,	PUNCT
fbem-875	275	18	and	and	CCONJ
fbem-875	275	19	capital	capital	NOUN
fbem-875	275	20	structure[j	structure[j	NOUN
fbem-875	275	21	]	]	PUNCT
fbem-875	275	22	.	.	PUNCT
fbem-875	276	1	the	the	DET
fbem-875	276	2	journal	journal	PROPN
fbem-875	276	3	of	of	ADP
fbem-875	276	4	finance	finance	NOUN
fbem-875	276	5	,	,	PUNCT
fbem-875	276	6	2010	2010	NUM
fbem-875	276	7	(	(	PUNCT
fbem-875	276	8	3	3	NUM
fbem-875	276	9	)	)	PUNCT
fbem-875	276	10	.	.	PUNCT
fbem-875	277	1	[	[	X
fbem-875	277	2	15	15	NUM
fbem-875	277	3	]	]	X
fbem-875	277	4	guan	guan	PROPN
fbem-875	277	5	yamei	yamei	PROPN
fbem-875	277	6	,	,	PUNCT
fbem-875	277	7	wang	wang	PROPN
fbem-875	277	8	jiaxin	jiaxin	PROPN
fbem-875	277	9	.	.	PUNCT
fbem-875	278	1	can	can	AUX
fbem-875	278	2	corporate	corporate	VERB
fbem-875	278	3	social	social	ADJ
fbem-875	278	4	responsibility	responsibility	NOUN
fbem-875	278	5	information	information	NOUN
fbem-875	278	6	disclosure	disclosure	NOUN
fbem-875	278	7	ease	ease	VERB
fbem-875	278	8	financing	finance	VERB
fbem-875	278	9	constraints?-empirical	constraints?-empirical	ADJ
fbem-875	278	10	analysis	analysis	NOUN
fbem-875	278	11	based	base	VERB
fbem-875	278	12	on	on	ADP
fbem-875	278	13	a	a	DET
fbem-875	278	14	-	-	PUNCT
fbem-875	278	15	share	share	NOUN
fbem-875	278	16	listed	list	VERB
fbem-875	278	17	companies	company	NOUN
fbem-875	279	1	[	[	X
fbem-875	279	2	j	j	X
fbem-875	279	3	]	]	X
fbem-875	279	4	.	.	PUNCT
fbem-875	280	1	journal	journal	PROPN
fbem-875	280	2	of	of	ADP
fbem-875	280	3	economics	economic	NOUN
fbem-875	280	4	and	and	CCONJ
fbem-875	280	5	management	management	NOUN
fbem-875	280	6	research	research	NOUN
fbem-875	280	7	,	,	PUNCT
fbem-875	280	8	2013(11	2013(11	NUM
fbem-875	280	9	)	)	PUNCT
fbem-875	280	10	.	.	PUNCT
fbem-875	281	1	146	146	NUM
fbem-875	282	1	[	[	X
fbem-875	282	2	16	16	NUM
fbem-875	282	3	]	]	X
fbem-875	282	4	campello	campello	PROPN
fbem-875	282	5	m	m	PROPN
fbem-875	282	6	,	,	PUNCT
fbem-875	282	7	gao	gao	PROPN
fbem-875	282	8	j	j	PROPN
fbem-875	282	9	,	,	PUNCT
fbem-875	282	10	qiu	qiu	PROPN
fbem-875	282	11	j	j	PROPN
fbem-875	282	12	,	,	PUNCT
fbem-875	282	13	et	et	PROPN
fbem-875	282	14	al	al	PROPN
fbem-875	282	15	.	.	PROPN
fbem-875	282	16	organized	organize	VERB
fbem-875	282	17	labor	labor	NOUN
fbem-875	282	18	and	and	CCONJ
fbem-875	282	19	the	the	DET
fbem-875	282	20	cost	cost	NOUN
fbem-875	282	21	o	o	NOUN
fbem-875	282	22	f	f	NOUN
fbem-875	282	23	debt	debt	NOUN
fbem-875	282	24	:	:	PUNCT
fbem-875	282	25	evidence	evidence	NOUN
fbem-875	282	26	from	from	ADP
fbem-875	282	27	union	union	NOUN
fbem-875	282	28	votes[j	votes[j	PROPN
fbem-875	282	29	]	]	PUNCT
fbem-875	282	30	.	.	PUNCT
fbem-875	283	1	social	social	ADJ
fbem-875	283	2	science	science	PROPN
fbem-875	283	3	electronic	electronic	ADJ
fbem-875	283	4	publishing	publishing	NOUN
fbem-875	283	5	,	,	PUNCT
fbem-875	283	6	2015	2015	NUM
fbem-875	283	7	.	.	PUNCT
fbem-875	284	1	[	[	X
fbem-875	284	2	17	17	NUM
fbem-875	284	3	]	]	X
fbem-875	284	4	preston	preston	PROPN
fbem-875	284	5	l	l	PROPN
fbem-875	284	6	e	e	PROPN
fbem-875	284	7	,	,	PUNCT
fbem-875	284	8	o'bannon	o'bannon	X
fbem-875	285	1	d	d	NOUN
fbem-875	285	2	p.	p.	NOUN
fbem-875	285	3	the	the	DET
fbem-875	285	4	corporate	corporate	ADJ
fbem-875	285	5	social	social	ADJ
fbem-875	285	6	financial	financial	ADJ
fbem-875	285	7	performance	performance	NOUN
fbem-875	285	8	relationship	relationship	NOUN
fbem-875	285	9	:	:	PUNCT
fbem-875	285	10	a	a	DET
fbem-875	285	11	typology	typology	NOUN
fbem-875	285	12	and	and	CCONJ
fbem-875	285	13	analysis[j	analysis[j	PROPN
fbem-875	285	14	]	]	PUNCT
fbem-875	285	15	.	.	PUNCT
fbem-875	286	1	business	business	NOUN
fbem-875	286	2	and	and	CCONJ
fbem-875	286	3	society,1997(4	society,1997(4	PROPN
fbem-875	286	4	)	)	PUNCT
fbem-875	286	5	.	.	PUNCT
fbem-875	287	1	[	[	X
fbem-875	287	2	18	18	NUM
fbem-875	287	3	]	]	X
fbem-875	287	4	dai	dai	PROPN
fbem-875	287	5	zhimin	zhimin	PROPN
fbem-875	287	6	,	,	PUNCT
fbem-875	287	7	gu	gu	PROPN
fbem-875	287	8	liyuan	liyuan	PROPN
fbem-875	287	9	,	,	PUNCT
fbem-875	287	10	zhu	zhu	PROPN
fbem-875	287	11	zhujun	zhujun	PROPN
fbem-875	287	12	.	.	PUNCT
fbem-875	288	1	research	research	NOUN
fbem-875	288	2	on	on	ADP
fbem-875	288	3	the	the	DET
fbem-875	288	4	impact	impact	NOUN
fbem-875	288	5	of	of	ADP
fbem-875	288	6	r&d	r&d	NOUN
fbem-875	288	7	investment	investment	NOUN
fbem-875	288	8	on	on	ADP
fbem-875	288	9	firm	firm	ADJ
fbem-875	288	10	performance	performance	NOUN
fbem-875	288	11	:	:	PUNCT
fbem-875	288	12	based	base	VERB
fbem-875	288	13	on	on	ADP
fbem-875	288	14	the	the	DET
fbem-875	288	15	threshold	threshold	NOUN
fbem-875	288	16	regression	regression	NOUN
fbem-875	288	17	of	of	ADP
fbem-875	288	18	firm	firm	ADJ
fbem-875	288	19	financialization	financialization	NOUN
fbem-875	288	20	level	level	NOUN
fbem-875	289	1	[	[	X
fbem-875	289	2	j	j	X
fbem-875	289	3	]	]	X
fbem-875	289	4	.	.	PUNCT
fbem-875	290	1	journal	journal	PROPN
fbem-875	290	2	of	of	ADP
fbem-875	290	3	management	management	NOUN
fbem-875	290	4	engineering	engineering	NOUN
fbem-875	290	5	,	,	PUNCT
fbem-875	290	6	2021	2021	NUM
fbem-875	290	7	(	(	PUNCT
fbem-875	290	8	02	02	NUM
fbem-875	290	9	)	)	PUNCT
fbem-875	290	10	.	.	PUNCT
fbem-875	291	1	[	[	X
fbem-875	291	2	19	19	NUM
fbem-875	291	3	]	]	X
fbem-875	291	4	sun	sun	NOUN
fbem-875	291	5	zhijun	zhijun	PROPN
fbem-875	291	6	,	,	PUNCT
fbem-875	291	7	wang	wang	PROPN
fbem-875	291	8	ling	ling	PROPN
fbem-875	291	9	,	,	PUNCT
fbem-875	291	10	li	li	PROPN
fbem-875	291	11	xiuzhi	xiuzhi	PROPN
fbem-875	291	12	.	.	PUNCT
fbem-875	292	1	the	the	DET
fbem-875	292	2	dynamic	dynamic	ADJ
fbem-875	292	3	relationship	relationship	NOUN
fbem-875	292	4	between	between	ADP
fbem-875	292	5	r&d	r&d	NOUN
fbem-875	292	6	investment	investment	NOUN
fbem-875	292	7	and	and	CCONJ
fbem-875	292	8	firm	firm	ADJ
fbem-875	292	9	performance	performance	NOUN
fbem-875	292	10	:	:	PUNCT
fbem-875	292	11	based	base	VERB
fbem-875	292	12	on	on	ADP
fbem-875	292	13	the	the	DET
fbem-875	292	14	moderating	moderate	VERB
fbem-875	292	15	effect	effect	NOUN
fbem-875	292	16	of	of	ADP
fbem-875	292	17	internal	internal	ADJ
fbem-875	292	18	control	control	NOUN
fbem-875	292	19	effectiveness	effectiveness	NOUN
fbem-875	292	20	[	[	X
fbem-875	292	21	j	j	X
fbem-875	292	22	]	]	X
fbem-875	292	23	.	.	PUNCT
fbem-875	293	1	soft	soft	ADJ
fbem-875	293	2	science,2019	science,2019	NOUN
fbem-875	293	3	(	(	PUNCT
fbem-875	293	4	7	7	NUM
fbem-875	293	5	)	)	PUNCT
fbem-875	293	6	.	.	PUNCT
fbem-875	294	1	[	[	X
fbem-875	294	2	20	20	NUM
fbem-875	294	3	]	]	X
fbem-875	294	4	long	long	ADJ
fbem-875	294	5	haiming	haiming	NOUN
fbem-875	294	6	,	,	PUNCT
fbem-875	294	7	hu	hu	PROPN
fbem-875	294	8	ming	ming	PROPN
fbem-875	294	9	.	.	PUNCT
fbem-875	295	1	the	the	DET
fbem-875	295	2	influence	influence	NOUN
fbem-875	295	3	of	of	ADP
fbem-875	295	4	leverage	leverage	NOUN
fbem-875	295	5	ratio	ratio	NOUN
fbem-875	295	6	on	on	ADP
fbem-875	295	7	profitability	profitability	NOUN
fbem-875	295	8	of	of	ADP
fbem-875	295	9	manufacturing	manufacturing	NOUN
fbem-875	295	10	enterprises	enterprise	NOUN
fbem-875	295	11	in	in	ADP
fbem-875	295	12	china	china	PROPN
fbem-875	296	1	[	[	X
fbem-875	296	2	j	j	X
fbem-875	296	3	]	]	X
fbem-875	296	4	.	.	PUNCT
fbem-875	297	1	financial	financial	ADJ
fbem-875	297	2	theory	theory	NOUN
fbem-875	297	3	and	and	CCONJ
fbem-875	297	4	practice,2020(5	practice,2020(5	NOUN
fbem-875	297	5	)	)	PUNCT
fbem-875	297	6	.	.	PUNCT
fbem-875	298	1	[	[	X
fbem-875	298	2	21	21	NUM
fbem-875	298	3	]	]	X
fbem-875	298	4	zhou	zhou	PROPN
fbem-875	298	5	fangzhao	fangzhao	NOUN
fbem-875	298	6	,	,	PUNCT
fbem-875	298	7	jin	jin	PROPN
fbem-875	298	8	yuanpei	yuanpei	PROPN
fbem-875	298	9	,	,	PUNCT
fbem-875	298	10	he	he	PRON
fbem-875	298	11	zhifang	zhifang	PROPN
fbem-875	298	12	.	.	PUNCT
fbem-875	299	1	the	the	DET
fbem-875	299	2	impact	impact	NOUN
fbem-875	299	3	of	of	ADP
fbem-875	299	4	corporate	corporate	ADJ
fbem-875	299	5	social	social	ADJ
fbem-875	299	6	responsibility	responsibility	NOUN
fbem-875	299	7	on	on	ADP
fbem-875	299	8	corporate	corporate	ADJ
fbem-875	299	9	performance	performance	NOUN
fbem-875	299	10	and	and	CCONJ
fbem-875	299	11	risk	risk	NOUN
fbem-875	299	12	:	:	PUNCT
fbem-875	299	13	evidence	evidence	NOUN
fbem-875	299	14	from	from	ADP
fbem-875	299	15	chinese	chinese	PROPN
fbem-875	299	16	a	a	PROPN
fbem-875	299	17	-	-	PUNCT
fbem-875	299	18	share	share	NOUN
fbem-875	299	19	listed	list	VERB
fbem-875	299	20	companies	company	NOUN
fbem-875	300	1	[	[	X
fbem-875	300	2	j	j	X
fbem-875	300	3	]	]	X
fbem-875	300	4	.	.	PUNCT
fbem-875	301	1	technology	technology	NOUN
fbem-875	301	2	economics,2020	economics,2020	ADP
fbem-875	301	3	(	(	PUNCT
fbem-875	301	4	8)	8)	NUM
fbem-875	301	5	.	.	PUNCT