id	sid	tid	token	lemma	pos
gujaf-145	1	1	i	i	PRON
gujaf-145	1	2	gusau	gusau	PROPN
gujaf-145	1	3	journal	journal	NOUN
gujaf-145	1	4	of	of	ADP
gujaf-145	1	5	accounting	accounting	NOUN
gujaf-145	1	6	and	and	CCONJ
gujaf-145	1	7	finance	finance	NOUN
gujaf-145	1	8	(	(	PUNCT
gujaf-145	1	9	gujaf	gujaf	NOUN
gujaf-145	1	10	)	)	PUNCT
gujaf-145	1	11	vol	vol	NOUN
gujaf-145	1	12	.	.	NOUN
gujaf-145	1	13	3	3	NUM
gujaf-145	1	14	issue	issue	NOUN
gujaf-145	1	15	2	2	NUM
gujaf-145	1	16	,	,	PUNCT
gujaf-145	1	17	april	april	PROPN
gujaf-145	1	18	,	,	PUNCT
gujaf-145	1	19	2022	2022	NUM
gujaf-145	1	20	issn	issn	NOUN
gujaf-145	1	21	:	:	PUNCT
gujaf-145	1	22	2756	2756	NUM
gujaf-145	1	23	-	-	PUNCT
gujaf-145	1	24	665x	665x	NOUN
gujaf-145	1	25	a	a	DET
gujaf-145	1	26	publication	publication	NOUN
gujaf-145	1	27	of	of	ADP
gujaf-145	1	28	department	department	NOUN
gujaf-145	1	29	of	of	ADP
gujaf-145	1	30	accounting	accounting	NOUN
gujaf-145	1	31	and	and	CCONJ
gujaf-145	1	32	finance	finance	NOUN
gujaf-145	1	33	,	,	PUNCT
gujaf-145	1	34	faculty	faculty	NOUN
gujaf-145	1	35	of	of	ADP
gujaf-145	1	36	management	management	NOUN
gujaf-145	1	37	and	and	CCONJ
gujaf-145	1	38	social	social	ADJ
gujaf-145	1	39	sciences	science	NOUN
gujaf-145	1	40	,	,	PUNCT
gujaf-145	1	41	federal	federal	ADJ
gujaf-145	1	42	university	university	NOUN
gujaf-145	1	43	gusau	gusau	NOUN
gujaf-145	1	44	,	,	PUNCT
gujaf-145	1	45	zamfara	zamfara	PROPN
gujaf-145	1	46	state	state	PROPN
gujaf-145	1	47	-nigeria	-nigeria	PROPN
gujaf-145	1	48	1	1	NUM
gujaf-145	1	49	ownership	ownership	NOUN
gujaf-145	1	50	attributes	attribute	NOUN
gujaf-145	1	51	and	and	CCONJ
gujaf-145	1	52	stocks	stock	NOUN
gujaf-145	1	53	return	return	VERB
gujaf-145	1	54	of	of	ADP
gujaf-145	1	55	quoted	quote	VERB
gujaf-145	1	56	consumers	consumer	NOUN
gujaf-145	1	57	goods	good	NOUN
gujaf-145	1	58	companies	company	NOUN
gujaf-145	1	59	in	in	ADP
gujaf-145	1	60	nigeria	nigeria	PROPN
gujaf-145	1	61	mbatuegwu	mbatuegwu	PROPN
gujaf-145	1	62	christopher	christopher	PROPN
gujaf-145	1	63	david	david	PROPN
gujaf-145	1	64	phd	phd	PROPN
gujaf-145	1	65	center	center	PROPN
gujaf-145	1	66	for	for	ADP
gujaf-145	1	67	finance	finance	NOUN
gujaf-145	1	68	and	and	CCONJ
gujaf-145	1	69	accounting	accounting	NOUN
gujaf-145	1	70	research	research	NOUN
gujaf-145	1	71	(	(	PUNCT
gujaf-145	1	72	cefar	cefar	NOUN
gujaf-145	1	73	)	)	PUNCT
gujaf-145	1	74	nigerian	nigerian	PROPN
gujaf-145	1	75	college	college	PROPN
gujaf-145	1	76	of	of	ADP
gujaf-145	1	77	accountancy	accountancy	NOUN
gujaf-145	1	78	kwall	kwall	PROPN
gujaf-145	1	79	,	,	PUNCT
gujaf-145	1	80	plateau	plateau	NOUN
gujaf-145	1	81	state	state	NOUN
gujaf-145	1	82	+2348032946967	+2348032946967	ADP
gujaf-145	1	83	,	,	PUNCT
gujaf-145	1	84	mbatuegwuchidi@gmail.com	mbatuegwuchidi@gmail.com	PROPN
gujaf-145	1	85	joseph	joseph	PROPN
gujaf-145	1	86	femi	femi	PROPN
gujaf-145	1	87	adebisi	adebisi	PROPN
gujaf-145	1	88	phd	phd	PROPN
gujaf-145	1	89	professor	professor	NOUN
gujaf-145	1	90	of	of	ADP
gujaf-145	1	91	accounting	accounting	NOUN
gujaf-145	1	92	and	and	CCONJ
gujaf-145	1	93	finance	finance	PROPN
gujaf-145	1	94	anan	anan	PROPN
gujaf-145	1	95	university	university	PROPN
gujaf-145	1	96	kwall	kwall	PROPN
gujaf-145	1	97	,	,	PUNCT
gujaf-145	1	98	plateau	plateau	NOUN
gujaf-145	1	99	state	state	NOUN
gujaf-145	1	100	+2348037044599	+2348037044599	VERB
gujaf-145	1	101	,	,	PUNCT
gujaf-145	1	102	adebisijf@yahoo.com	adebisijf@yahoo.com	PROPN
gujaf-145	1	103	egberi	egberi	PROPN
gujaf-145	1	104	oyinemi	oyinemi	PROPN
gujaf-145	1	105	elvis	elvis	PROPN
gujaf-145	1	106	nigerian	nigerian	PROPN
gujaf-145	1	107	college	college	PROPN
gujaf-145	1	108	of	of	ADP
gujaf-145	1	109	accountancy	accountancy	NOUN
gujaf-145	1	110	kwall	kwall	PROPN
gujaf-145	1	111	,	,	PUNCT
gujaf-145	1	112	plateau	plateau	NOUN
gujaf-145	1	113	state	state	NOUN
gujaf-145	1	114	+2348030587976	+2348030587976	PROPN
gujaf-145	1	115	,	,	PUNCT
gujaf-145	1	116	elvisegberi@gmail.com	elvisegberi@gmail.com	X
gujaf-145	2	1	abstract	abstract	ADJ
gujaf-145	2	2	the	the	DET
gujaf-145	2	3	significance	significance	NOUN
gujaf-145	2	4	of	of	ADP
gujaf-145	2	5	ensuring	ensure	VERB
gujaf-145	2	6	a	a	DET
gujaf-145	2	7	consistent	consistent	ADJ
gujaf-145	2	8	return	return	NOUN
gujaf-145	2	9	on	on	ADP
gujaf-145	2	10	stocks	stock	NOUN
gujaf-145	2	11	for	for	ADP
gujaf-145	2	12	publicly	publicly	ADV
gujaf-145	2	13	traded	trade	VERB
gujaf-145	2	14	companies	company	NOUN
gujaf-145	2	15	can	can	AUX
gujaf-145	2	16	not	not	PART
gujaf-145	2	17	be	be	AUX
gujaf-145	2	18	overstated	overstate	VERB
gujaf-145	2	19	.	.	PUNCT
gujaf-145	3	1	this	this	PRON
gujaf-145	3	2	is	be	AUX
gujaf-145	3	3	due	due	ADJ
gujaf-145	3	4	to	to	ADP
gujaf-145	3	5	the	the	DET
gujaf-145	3	6	fact	fact	NOUN
gujaf-145	3	7	that	that	SCONJ
gujaf-145	3	8	returns	return	NOUN
gujaf-145	3	9	inform	inform	VERB
gujaf-145	3	10	investors	investor	NOUN
gujaf-145	3	11	about	about	ADP
gujaf-145	3	12	managerial	managerial	ADJ
gujaf-145	3	13	and	and	CCONJ
gujaf-145	3	14	market	market	NOUN
gujaf-145	3	15	performance	performance	NOUN
gujaf-145	3	16	and	and	CCONJ
gujaf-145	3	17	enable	enable	VERB
gujaf-145	3	18	them	they	PRON
gujaf-145	3	19	to	to	PART
gujaf-145	3	20	forecast	forecast	VERB
gujaf-145	3	21	the	the	DET
gujaf-145	3	22	company	company	NOUN
gujaf-145	3	23	's	's	PART
gujaf-145	3	24	future	future	ADJ
gujaf-145	3	25	earnings	earning	NOUN
gujaf-145	3	26	.	.	PUNCT
gujaf-145	4	1	however	however	ADV
gujaf-145	4	2	,	,	PUNCT
gujaf-145	4	3	global	global	ADJ
gujaf-145	4	4	corporate	corporate	ADJ
gujaf-145	4	5	scandals	scandal	NOUN
gujaf-145	4	6	at	at	ADP
gujaf-145	4	7	the	the	DET
gujaf-145	4	8	turn	turn	NOUN
gujaf-145	4	9	of	of	ADP
gujaf-145	4	10	the	the	DET
gujaf-145	4	11	century	century	NOUN
gujaf-145	4	12	,	,	PUNCT
gujaf-145	4	13	as	as	ADV
gujaf-145	4	14	well	well	ADV
gujaf-145	4	15	as	as	ADP
gujaf-145	4	16	the	the	DET
gujaf-145	4	17	global	global	ADJ
gujaf-145	4	18	financial	financial	ADJ
gujaf-145	4	19	crisis	crisis	NOUN
gujaf-145	4	20	,	,	PUNCT
gujaf-145	4	21	eroded	erode	VERB
gujaf-145	4	22	investor	investor	NOUN
gujaf-145	4	23	confidence	confidence	NOUN
gujaf-145	4	24	.	.	PUNCT
gujaf-145	5	1	seven	seven	NUM
gujaf-145	5	2	firms	firm	NOUN
gujaf-145	5	3	were	be	AUX
gujaf-145	5	4	dropped	drop	VERB
gujaf-145	5	5	from	from	ADP
gujaf-145	5	6	the	the	DET
gujaf-145	5	7	study	study	NOUN
gujaf-145	5	8	,	,	PUNCT
gujaf-145	5	9	which	which	PRON
gujaf-145	5	10	included	include	VERB
gujaf-145	5	11	all	all	DET
gujaf-145	5	12	23	23	NUM
gujaf-145	5	13	consumer	consumer	NOUN
gujaf-145	5	14	goods	good	NOUN
gujaf-145	5	15	firms	firm	NOUN
gujaf-145	5	16	,	,	PUNCT
gujaf-145	5	17	during	during	ADP
gujaf-145	5	18	the	the	DET
gujaf-145	5	19	filtration	filtration	NOUN
gujaf-145	5	20	process	process	NOUN
gujaf-145	5	21	.	.	PUNCT
gujaf-145	6	1	data	datum	NOUN
gujaf-145	6	2	was	be	AUX
gujaf-145	6	3	extracted	extract	VERB
gujaf-145	6	4	from	from	ADP
gujaf-145	6	5	the	the	DET
gujaf-145	6	6	annual	annual	ADJ
gujaf-145	6	7	reports	report	NOUN
gujaf-145	6	8	of	of	ADP
gujaf-145	6	9	the	the	DET
gujaf-145	6	10	sampled	sample	VERB
gujaf-145	6	11	companies	company	NOUN
gujaf-145	6	12	(	(	PUNCT
gujaf-145	6	13	2010	2010	NUM
gujaf-145	6	14	to	to	ADP
gujaf-145	6	15	2019	2019	NUM
gujaf-145	6	16	)	)	PUNCT
gujaf-145	6	17	as	as	ADV
gujaf-145	6	18	well	well	ADV
gujaf-145	6	19	as	as	ADP
gujaf-145	6	20	the	the	DET
gujaf-145	6	21	nigerian	nigerian	ADJ
gujaf-145	6	22	stock	stock	NOUN
gujaf-145	6	23	exchange	exchange	NOUN
gujaf-145	6	24	as	as	ADP
gujaf-145	6	25	of	of	ADP
gujaf-145	6	26	2020	2020	NUM
gujaf-145	6	27	.	.	PUNCT
gujaf-145	7	1	the	the	DET
gujaf-145	7	2	ex	ex	NOUN
gujaf-145	7	3	-	-	ADJ
gujaf-145	7	4	post	post	ADJ
gujaf-145	7	5	facto	facto	X
gujaf-145	7	6	approach	approach	NOUN
gujaf-145	7	7	with	with	ADP
gujaf-145	7	8	agency	agency	NOUN
gujaf-145	7	9	theory	theory	NOUN
gujaf-145	7	10	was	be	AUX
gujaf-145	7	11	chosen	choose	VERB
gujaf-145	7	12	because	because	SCONJ
gujaf-145	7	13	the	the	DET
gujaf-145	7	14	event	event	NOUN
gujaf-145	7	15	under	under	ADP
gujaf-145	7	16	consideration	consideration	NOUN
gujaf-145	7	17	has	have	AUX
gujaf-145	7	18	already	already	ADV
gujaf-145	7	19	occurred	occur	VERB
gujaf-145	7	20	.	.	PUNCT
gujaf-145	8	1	stock	stock	NOUN
gujaf-145	8	2	returns	return	NOUN
gujaf-145	8	3	are	be	AUX
gujaf-145	8	4	the	the	DET
gujaf-145	8	5	profits	profit	NOUN
gujaf-145	8	6	or	or	CCONJ
gujaf-145	8	7	gains	gain	NOUN
gujaf-145	8	8	made	make	VERB
gujaf-145	8	9	by	by	ADP
gujaf-145	8	10	investors	investor	NOUN
gujaf-145	8	11	in	in	ADP
gujaf-145	8	12	the	the	DET
gujaf-145	8	13	stock	stock	NOUN
gujaf-145	8	14	market	market	NOUN
gujaf-145	8	15	.	.	PUNCT
gujaf-145	9	1	managers	manager	NOUN
gujaf-145	9	2	may	may	AUX
gujaf-145	9	3	view	view	VERB
gujaf-145	9	4	the	the	DET
gujaf-145	9	5	payment	payment	NOUN
gujaf-145	9	6	of	of	ADP
gujaf-145	9	7	investor	investor	NOUN
gujaf-145	9	8	returns	return	NOUN
gujaf-145	9	9	as	as	ADP
gujaf-145	9	10	a	a	DET
gujaf-145	9	11	positive	positive	ADJ
gujaf-145	9	12	indicator	indicator	NOUN
gujaf-145	9	13	of	of	ADP
gujaf-145	9	14	the	the	DET
gujaf-145	9	15	company	company	NOUN
gujaf-145	9	16	's	's	PART
gujaf-145	9	17	market	market	NOUN
gujaf-145	9	18	prospects	prospect	NOUN
gujaf-145	9	19	.	.	PUNCT
gujaf-145	10	1	the	the	DET
gujaf-145	10	2	significance	significance	NOUN
gujaf-145	10	3	of	of	ADP
gujaf-145	10	4	ensuring	ensure	VERB
gujaf-145	10	5	a	a	DET
gujaf-145	10	6	consistent	consistent	ADJ
gujaf-145	10	7	return	return	NOUN
gujaf-145	10	8	on	on	ADP
gujaf-145	10	9	stocks	stock	NOUN
gujaf-145	10	10	for	for	ADP
gujaf-145	10	11	publicly	publicly	ADV
gujaf-145	10	12	traded	trade	VERB
gujaf-145	10	13	companies	company	NOUN
gujaf-145	10	14	can	can	AUX
gujaf-145	10	15	not	not	PART
gujaf-145	10	16	be	be	AUX
gujaf-145	10	17	overstated	overstate	VERB
gujaf-145	10	18	.	.	PUNCT
gujaf-145	11	1	the	the	DET
gujaf-145	11	2	purpose	purpose	NOUN
gujaf-145	11	3	of	of	ADP
gujaf-145	11	4	this	this	DET
gujaf-145	11	5	research	research	NOUN
gujaf-145	11	6	is	be	AUX
gujaf-145	11	7	to	to	PART
gujaf-145	11	8	look	look	VERB
gujaf-145	11	9	into	into	ADP
gujaf-145	11	10	the	the	DET
gujaf-145	11	11	effects	effect	NOUN
gujaf-145	11	12	of	of	ADP
gujaf-145	11	13	three	three	NUM
gujaf-145	11	14	corporate	corporate	ADJ
gujaf-145	11	15	properties	property	NOUN
gujaf-145	11	16	on	on	ADP
gujaf-145	11	17	the	the	DET
gujaf-145	11	18	stock	stock	NOUN
gujaf-145	11	19	returns	return	NOUN
gujaf-145	11	20	of	of	ADP
gujaf-145	11	21	publicly	publicly	ADV
gujaf-145	11	22	traded	trade	VERB
gujaf-145	11	23	consumer	consumer	NOUN
gujaf-145	11	24	goods	good	NOUN
gujaf-145	11	25	firms	firm	NOUN
gujaf-145	11	26	in	in	ADP
gujaf-145	11	27	nigeria	nigeria	PROPN
gujaf-145	11	28	.	.	PUNCT
gujaf-145	12	1	it	it	PRON
gujaf-145	12	2	was	be	AUX
gujaf-145	12	3	discovered	discover	VERB
gujaf-145	12	4	that	that	SCONJ
gujaf-145	12	5	concentration	concentration	NOUN
gujaf-145	12	6	of	of	ADP
gujaf-145	12	7	ownership	ownership	NOUN
gujaf-145	12	8	,	,	PUNCT
gujaf-145	12	9	institutional	institutional	ADJ
gujaf-145	12	10	ownership	ownership	NOUN
gujaf-145	12	11	,	,	PUNCT
gujaf-145	12	12	and	and	CCONJ
gujaf-145	12	13	ownership	ownership	NOUN
gujaf-145	12	14	all	all	PRON
gujaf-145	12	15	have	have	VERB
gujaf-145	12	16	a	a	DET
gujaf-145	12	17	significant	significant	ADJ
gujaf-145	12	18	impact	impact	NOUN
gujaf-145	12	19	on	on	ADP
gujaf-145	12	20	nigerian	nigerian	ADJ
gujaf-145	12	21	stock	stock	NOUN
gujaf-145	12	22	returns	return	NOUN
gujaf-145	12	23	.	.	PUNCT
gujaf-145	13	1	it	it	PRON
gujaf-145	13	2	also	also	ADV
gujaf-145	13	3	implies	imply	VERB
gujaf-145	13	4	that	that	SCONJ
gujaf-145	13	5	the	the	DET
gujaf-145	13	6	sec	sec	PROPN
gujaf-145	13	7	should	should	AUX
gujaf-145	13	8	provide	provide	VERB
gujaf-145	13	9	an	an	DET
gujaf-145	13	10	incentive	incentive	NOUN
gujaf-145	13	11	to	to	ADP
gujaf-145	13	12	firms	firm	NOUN
gujaf-145	13	13	that	that	PRON
gujaf-145	13	14	disclose	disclose	VERB
gujaf-145	13	15	accounting	accounting	NOUN
gujaf-145	13	16	information	information	NOUN
gujaf-145	13	17	in	in	ADP
gujaf-145	13	18	the	the	DET
gujaf-145	13	19	form	form	NOUN
gujaf-145	13	20	of	of	ADP
gujaf-145	13	21	a	a	DET
gujaf-145	13	22	commendation	commendation	NOUN
gujaf-145	13	23	.	.	PUNCT
gujaf-145	14	1	keywords	keyword	NOUN
gujaf-145	14	2	;	;	PUNCT
gujaf-145	14	3	ownerships	ownership	NOUN
gujaf-145	14	4	attributes	attribute	VERB
gujaf-145	14	5	,	,	PUNCT
gujaf-145	14	6	stock	stock	NOUN
gujaf-145	14	7	return	return	NOUN
gujaf-145	14	8	,	,	PUNCT
gujaf-145	14	9	nigeria	nigeria	PROPN
gujaf-145	14	10	1	1	NUM
gujaf-145	14	11	.	.	PUNCT
gujaf-145	15	1	introduction	introduction	NOUN
gujaf-145	15	2	in	in	ADP
gujaf-145	15	3	order	order	NOUN
gujaf-145	15	4	to	to	PART
gujaf-145	15	5	make	make	VERB
gujaf-145	15	6	investment	investment	NOUN
gujaf-145	15	7	decisions	decision	NOUN
gujaf-145	15	8	,	,	PUNCT
gujaf-145	15	9	capital	capital	NOUN
gujaf-145	15	10	market	market	NOUN
gujaf-145	15	11	participants	participant	NOUN
gujaf-145	15	12	must	must	AUX
gujaf-145	15	13	seek	seek	VERB
gujaf-145	15	14	information	information	NOUN
gujaf-145	15	15	about	about	ADP
gujaf-145	15	16	capital	capital	NOUN
gujaf-145	15	17	market	market	NOUN
gujaf-145	15	18	conditions	condition	NOUN
gujaf-145	15	19	.	.	PUNCT
gujaf-145	16	1	the	the	DET
gujaf-145	16	2	company	company	NOUN
gujaf-145	16	3	's	's	PART
gujaf-145	16	4	return	return	NOUN
gujaf-145	16	5	distribution	distribution	NOUN
gujaf-145	16	6	mailto:mbatuegwuchidi@gmail.com	mailto:mbatuegwuchidi@gmail.com	X
gujaf-145	16	7	mailto:adebisijf@yahoo.com	mailto:adebisijf@yahoo.com	X
gujaf-145	16	8	mailto:elvisegberi@gmail.com	mailto:elvisegberi@gmail.com	X
gujaf-145	16	9	2	2	NUM
gujaf-145	16	10	policy	policy	NOUN
gujaf-145	16	11	is	be	AUX
gujaf-145	16	12	one	one	NUM
gujaf-145	16	13	of	of	ADP
gujaf-145	16	14	the	the	DET
gujaf-145	16	15	pieces	piece	NOUN
gujaf-145	16	16	of	of	ADP
gujaf-145	16	17	information	information	NOUN
gujaf-145	16	18	required	require	VERB
gujaf-145	16	19	in	in	ADP
gujaf-145	16	20	the	the	DET
gujaf-145	16	21	capital	capital	NOUN
gujaf-145	16	22	market	market	NOUN
gujaf-145	16	23	.	.	PUNCT
gujaf-145	17	1	announcements	announcement	NOUN
gujaf-145	17	2	about	about	ADP
gujaf-145	17	3	investor	investor	NOUN
gujaf-145	17	4	returns	return	NOUN
gujaf-145	17	5	include	include	VERB
gujaf-145	17	6	information	information	NOUN
gujaf-145	17	7	about	about	ADP
gujaf-145	17	8	future	future	ADJ
gujaf-145	17	9	company	company	NOUN
gujaf-145	17	10	profits	profit	NOUN
gujaf-145	17	11	.	.	PUNCT
gujaf-145	18	1	managers	manager	NOUN
gujaf-145	18	2	may	may	AUX
gujaf-145	18	3	view	view	VERB
gujaf-145	18	4	the	the	DET
gujaf-145	18	5	payment	payment	NOUN
gujaf-145	18	6	of	of	ADP
gujaf-145	18	7	investor	investor	NOUN
gujaf-145	18	8	returns	return	NOUN
gujaf-145	18	9	as	as	ADP
gujaf-145	18	10	a	a	DET
gujaf-145	18	11	positive	positive	ADJ
gujaf-145	18	12	indicator	indicator	NOUN
gujaf-145	18	13	of	of	ADP
gujaf-145	18	14	the	the	DET
gujaf-145	18	15	company	company	NOUN
gujaf-145	18	16	's	's	PART
gujaf-145	18	17	market	market	NOUN
gujaf-145	18	18	prospects	prospect	NOUN
gujaf-145	18	19	.	.	PUNCT
gujaf-145	19	1	stock	stock	NOUN
gujaf-145	19	2	returns	return	NOUN
gujaf-145	19	3	are	be	AUX
gujaf-145	19	4	a	a	DET
gujaf-145	19	5	great	great	ADJ
gujaf-145	19	6	way	way	NOUN
gujaf-145	19	7	for	for	SCONJ
gujaf-145	19	8	investors	investor	NOUN
gujaf-145	19	9	to	to	PART
gujaf-145	19	10	forecast	forecast	VERB
gujaf-145	19	11	volatility	volatility	NOUN
gujaf-145	19	12	and	and	CCONJ
gujaf-145	19	13	expected	expect	VERB
gujaf-145	19	14	return	return	NOUN
gujaf-145	19	15	rates	rate	NOUN
gujaf-145	19	16	over	over	ADP
gujaf-145	19	17	time	time	NOUN
gujaf-145	19	18	(	(	PUNCT
gujaf-145	19	19	mbatuegwu	mbatuegwu	PROPN
gujaf-145	19	20	&	&	CCONJ
gujaf-145	19	21	ogoh	ogoh	PROPN
gujaf-145	19	22	,	,	PUNCT
gujaf-145	19	23	2021	2021	NUM
gujaf-145	19	24	,	,	PUNCT
gujaf-145	19	25	ali	ali	PROPN
gujaf-145	19	26	,	,	PUNCT
gujaf-145	19	27	2017	2017	NUM
gujaf-145	19	28	)	)	PUNCT
gujaf-145	19	29	.	.	PUNCT
gujaf-145	20	1	stock	stock	NOUN
gujaf-145	20	2	market	market	NOUN
gujaf-145	20	3	returns	return	NOUN
gujaf-145	20	4	refer	refer	VERB
gujaf-145	20	5	to	to	ADP
gujaf-145	20	6	the	the	DET
gujaf-145	20	7	profits	profit	NOUN
gujaf-145	20	8	or	or	CCONJ
gujaf-145	20	9	gains	gain	NOUN
gujaf-145	20	10	made	make	VERB
gujaf-145	20	11	by	by	ADP
gujaf-145	20	12	investors	investor	NOUN
gujaf-145	20	13	in	in	ADP
gujaf-145	20	14	the	the	DET
gujaf-145	20	15	stock	stock	NOUN
gujaf-145	20	16	market	market	NOUN
gujaf-145	20	17	.	.	PUNCT
gujaf-145	21	1	secondary	secondary	ADJ
gujaf-145	21	2	market	market	NOUN
gujaf-145	21	3	trading	trading	NOUN
gujaf-145	21	4	is	be	AUX
gujaf-145	21	5	the	the	DET
gujaf-145	21	6	most	most	ADV
gujaf-145	21	7	common	common	ADJ
gujaf-145	21	8	way	way	NOUN
gujaf-145	21	9	to	to	PART
gujaf-145	21	10	generate	generate	VERB
gujaf-145	21	11	a	a	DET
gujaf-145	21	12	stock	stock	NOUN
gujaf-145	21	13	market	market	NOUN
gujaf-145	21	14	return	return	NOUN
gujaf-145	21	15	.	.	PUNCT
gujaf-145	22	1	an	an	DET
gujaf-145	22	2	investor	investor	NOUN
gujaf-145	22	3	can	can	AUX
gujaf-145	22	4	earn	earn	VERB
gujaf-145	22	5	stock	stock	NOUN
gujaf-145	22	6	market	market	NOUN
gujaf-145	22	7	returns	return	NOUN
gujaf-145	22	8	in	in	ADP
gujaf-145	22	9	the	the	DET
gujaf-145	22	10	secondary	secondary	ADJ
gujaf-145	22	11	market	market	NOUN
gujaf-145	22	12	by	by	ADP
gujaf-145	22	13	purchasing	purchase	VERB
gujaf-145	22	14	a	a	DET
gujaf-145	22	15	stock	stock	NOUN
gujaf-145	22	16	at	at	ADP
gujaf-145	22	17	a	a	DET
gujaf-145	22	18	lower	low	ADJ
gujaf-145	22	19	price	price	NOUN
gujaf-145	22	20	and	and	CCONJ
gujaf-145	22	21	selling	sell	VERB
gujaf-145	22	22	it	it	PRON
gujaf-145	22	23	at	at	ADP
gujaf-145	22	24	a	a	DET
gujaf-145	22	25	higher	high	ADJ
gujaf-145	22	26	price	price	NOUN
gujaf-145	22	27	.	.	PUNCT
gujaf-145	23	1	furthermore	furthermore	ADV
gujaf-145	23	2	,	,	PUNCT
gujaf-145	23	3	when	when	SCONJ
gujaf-145	23	4	it	it	PRON
gujaf-145	23	5	comes	come	VERB
gujaf-145	23	6	to	to	ADP
gujaf-145	23	7	stock	stock	NOUN
gujaf-145	23	8	investing	investing	NOUN
gujaf-145	23	9	,	,	PUNCT
gujaf-145	23	10	all	all	DET
gujaf-145	23	11	investors	investor	NOUN
gujaf-145	23	12	,	,	PUNCT
gujaf-145	23	13	whether	whether	SCONJ
gujaf-145	23	14	institutional	institutional	ADJ
gujaf-145	23	15	or	or	CCONJ
gujaf-145	23	16	individual	individual	ADJ
gujaf-145	23	17	,	,	PUNCT
gujaf-145	23	18	have	have	VERB
gujaf-145	23	19	the	the	DET
gujaf-145	23	20	same	same	ADJ
gujaf-145	23	21	goal	goal	NOUN
gujaf-145	23	22	in	in	ADP
gujaf-145	23	23	mind	mind	NOUN
gujaf-145	23	24	:	:	PUNCT
gujaf-145	23	25	to	to	PART
gujaf-145	23	26	maximize	maximize	VERB
gujaf-145	23	27	expected	expect	VERB
gujaf-145	23	28	return	return	NOUN
gujaf-145	23	29	while	while	SCONJ
gujaf-145	23	30	maintaining	maintain	VERB
gujaf-145	23	31	a	a	DET
gujaf-145	23	32	certain	certain	ADJ
gujaf-145	23	33	level	level	NOUN
gujaf-145	23	34	of	of	ADP
gujaf-145	23	35	risk	risk	NOUN
gujaf-145	23	36	.	.	PUNCT
gujaf-145	24	1	using	use	VERB
gujaf-145	24	2	various	various	ADJ
gujaf-145	24	3	types	type	NOUN
gujaf-145	24	4	of	of	ADP
gujaf-145	24	5	information	information	NOUN
gujaf-145	24	6	,	,	PUNCT
gujaf-145	24	7	researchers	researcher	NOUN
gujaf-145	24	8	on	on	ADP
gujaf-145	24	9	firm	firm	ADJ
gujaf-145	24	10	value	value	NOUN
gujaf-145	24	11	economic	economic	ADJ
gujaf-145	24	12	and	and	CCONJ
gujaf-145	24	13	financial	financial	ADJ
gujaf-145	24	14	factors	factor	NOUN
gujaf-145	24	15	,	,	PUNCT
gujaf-145	24	16	for	for	ADP
gujaf-145	24	17	example	example	NOUN
gujaf-145	24	18	,	,	PUNCT
gujaf-145	24	19	have	have	AUX
gujaf-145	24	20	been	be	AUX
gujaf-145	24	21	widely	widely	ADV
gujaf-145	24	22	used	use	VERB
gujaf-145	24	23	to	to	PART
gujaf-145	24	24	explain	explain	VERB
gujaf-145	24	25	the	the	DET
gujaf-145	24	26	behavior	behavior	NOUN
gujaf-145	24	27	of	of	ADP
gujaf-145	24	28	various	various	ADJ
gujaf-145	24	29	stock	stock	NOUN
gujaf-145	24	30	markets	market	NOUN
gujaf-145	24	31	worldwide	worldwide	ADV
gujaf-145	24	32	.	.	PUNCT
gujaf-145	25	1	the	the	DET
gujaf-145	25	2	stock	stock	NOUN
gujaf-145	25	3	price	price	NOUN
gujaf-145	25	4	,	,	PUNCT
gujaf-145	25	5	according	accord	VERB
gujaf-145	25	6	to	to	ADP
gujaf-145	25	7	signaling	signal	VERB
gujaf-145	25	8	theory	theory	NOUN
gujaf-145	25	9	,	,	PUNCT
gujaf-145	25	10	should	should	AUX
gujaf-145	25	11	reflect	reflect	VERB
gujaf-145	25	12	the	the	DET
gujaf-145	25	13	expectation	expectation	NOUN
gujaf-145	25	14	of	of	ADP
gujaf-145	25	15	corporate	corporate	ADJ
gujaf-145	25	16	performance	performance	NOUN
gujaf-145	25	17	.	.	PUNCT
gujaf-145	26	1	due	due	ADP
gujaf-145	26	2	to	to	ADP
gujaf-145	26	3	these	these	DET
gujaf-145	26	4	changes	change	NOUN
gujaf-145	26	5	in	in	ADP
gujaf-145	26	6	stock	stock	NOUN
gujaf-145	26	7	prices	price	NOUN
gujaf-145	26	8	brought	bring	VERB
gujaf-145	26	9	on	on	ADP
gujaf-145	26	10	by	by	ADP
gujaf-145	26	11	a	a	DET
gujaf-145	26	12	variety	variety	NOUN
gujaf-145	26	13	of	of	ADP
gujaf-145	26	14	factors	factor	NOUN
gujaf-145	26	15	,	,	PUNCT
gujaf-145	26	16	equity	equity	NOUN
gujaf-145	26	17	investment	investment	NOUN
gujaf-145	26	18	stock	stock	NOUN
gujaf-145	26	19	returns	return	NOUN
gujaf-145	26	20	may	may	AUX
gujaf-145	26	21	fluctuate	fluctuate	VERB
gujaf-145	26	22	.	.	PUNCT
gujaf-145	27	1	these	these	DET
gujaf-145	27	2	effects	effect	NOUN
gujaf-145	27	3	may	may	AUX
gujaf-145	27	4	be	be	AUX
gujaf-145	27	5	both	both	ADV
gujaf-145	27	6	positive	positive	ADJ
gujaf-145	27	7	and	and	CCONJ
gujaf-145	27	8	negative	negative	ADJ
gujaf-145	27	9	.	.	PUNCT
gujaf-145	28	1	these	these	DET
gujaf-145	28	2	elements	element	NOUN
gujaf-145	28	3	may	may	AUX
gujaf-145	28	4	be	be	AUX
gujaf-145	28	5	internal	internal	ADJ
gujaf-145	28	6	to	to	ADP
gujaf-145	28	7	the	the	DET
gujaf-145	28	8	business	business	NOUN
gujaf-145	28	9	(	(	PUNCT
gujaf-145	28	10	firmspecific	firmspecific	ADJ
gujaf-145	28	11	)	)	PUNCT
gujaf-145	28	12	or	or	CCONJ
gujaf-145	28	13	external	external	ADJ
gujaf-145	28	14	(	(	PUNCT
gujaf-145	28	15	macro	macro	NOUN
gujaf-145	28	16	)	)	PUNCT
gujaf-145	28	17	.	.	PUNCT
gujaf-145	29	1	internal	internal	ADJ
gujaf-145	29	2	factors	factor	NOUN
gujaf-145	29	3	such	such	ADJ
gujaf-145	29	4	as	as	ADP
gujaf-145	29	5	ownership	ownership	NOUN
gujaf-145	29	6	structures	structure	NOUN
gujaf-145	29	7	are	be	AUX
gujaf-145	29	8	subject	subject	ADJ
gujaf-145	29	9	to	to	ADP
gujaf-145	29	10	the	the	DET
gujaf-145	29	11	same	same	ADJ
gujaf-145	29	12	constraints	constraint	NOUN
gujaf-145	29	13	as	as	ADP
gujaf-145	29	14	external	external	ADJ
gujaf-145	29	15	factors	factor	NOUN
gujaf-145	29	16	such	such	ADJ
gujaf-145	29	17	as	as	ADP
gujaf-145	29	18	interest	interest	NOUN
gujaf-145	29	19	rates	rate	NOUN
gujaf-145	29	20	,	,	PUNCT
gujaf-145	29	21	global	global	ADJ
gujaf-145	29	22	oil	oil	NOUN
gujaf-145	29	23	prices	price	NOUN
gujaf-145	29	24	,	,	PUNCT
gujaf-145	29	25	foreign	foreign	ADJ
gujaf-145	29	26	reserves	reserve	NOUN
gujaf-145	29	27	,	,	PUNCT
gujaf-145	29	28	inflation	inflation	NOUN
gujaf-145	29	29	rate	rate	NOUN
gujaf-145	29	30	,	,	PUNCT
gujaf-145	29	31	money	money	NOUN
gujaf-145	29	32	supply	supply	NOUN
gujaf-145	29	33	,	,	PUNCT
gujaf-145	29	34	gdp	gdp	NOUN
gujaf-145	29	35	,	,	PUNCT
gujaf-145	29	36	and	and	CCONJ
gujaf-145	29	37	output	output	NOUN
gujaf-145	29	38	production	production	NOUN
gujaf-145	29	39	.	.	PUNCT
gujaf-145	30	1	stakeholders	stakeholder	NOUN
gujaf-145	30	2	are	be	AUX
gujaf-145	30	3	likely	likely	ADJ
gujaf-145	30	4	to	to	PART
gujaf-145	30	5	gain	gain	VERB
gujaf-145	30	6	when	when	SCONJ
gujaf-145	30	7	internal	internal	ADJ
gujaf-145	30	8	factors	factor	NOUN
gujaf-145	30	9	are	be	AUX
gujaf-145	30	10	managed	manage	VERB
gujaf-145	30	11	,	,	PUNCT
gujaf-145	30	12	improved	improve	VERB
gujaf-145	30	13	,	,	PUNCT
gujaf-145	30	14	and	and	CCONJ
gujaf-145	30	15	controlled	control	VERB
gujaf-145	30	16	by	by	ADP
gujaf-145	30	17	the	the	DET
gujaf-145	30	18	business	business	NOUN
gujaf-145	30	19	.	.	PUNCT
gujaf-145	31	1	it	it	PRON
gujaf-145	31	2	is	be	AUX
gujaf-145	31	3	believed	believe	VERB
gujaf-145	31	4	that	that	SCONJ
gujaf-145	31	5	a	a	DET
gujaf-145	31	6	company	company	NOUN
gujaf-145	31	7	's	's	PART
gujaf-145	31	8	ownership	ownership	NOUN
gujaf-145	31	9	composition	composition	NOUN
gujaf-145	31	10	has	have	VERB
gujaf-145	31	11	a	a	DET
gujaf-145	31	12	strong	strong	ADJ
gujaf-145	31	13	ontology	ontology	NOUN
gujaf-145	31	14	with	with	ADP
gujaf-145	31	15	stock	stock	NOUN
gujaf-145	31	16	returns	return	NOUN
gujaf-145	31	17	.	.	PUNCT
gujaf-145	32	1	for	for	ADP
gujaf-145	32	2	instance	instance	NOUN
gujaf-145	32	3	,	,	PUNCT
gujaf-145	32	4	institutional	institutional	ADJ
gujaf-145	32	5	ownership	ownership	NOUN
gujaf-145	32	6	affects	affect	VERB
gujaf-145	32	7	stock	stock	NOUN
gujaf-145	32	8	returns	return	NOUN
gujaf-145	32	9	because	because	SCONJ
gujaf-145	32	10	a	a	DET
gujaf-145	32	11	company	company	NOUN
gujaf-145	32	12	has	have	VERB
gujaf-145	32	13	more	more	ADJ
gujaf-145	32	14	external	external	ADJ
gujaf-145	32	15	control	control	NOUN
gujaf-145	32	16	with	with	ADP
gujaf-145	32	17	the	the	DET
gujaf-145	32	18	more	more	ADV
gujaf-145	32	19	institutional	institutional	ADJ
gujaf-145	32	20	ownership	ownership	NOUN
gujaf-145	32	21	it	it	PRON
gujaf-145	32	22	has	have	VERB
gujaf-145	32	23	.	.	PUNCT
gujaf-145	33	1	because	because	SCONJ
gujaf-145	33	2	there	there	PRON
gujaf-145	33	3	is	be	VERB
gujaf-145	33	4	no	no	DET
gujaf-145	33	5	need	need	NOUN
gujaf-145	33	6	for	for	ADP
gujaf-145	33	7	an	an	DET
gujaf-145	33	8	incentive	incentive	NOUN
gujaf-145	33	9	system	system	NOUN
gujaf-145	33	10	to	to	PART
gujaf-145	33	11	motivate	motivate	VERB
gujaf-145	33	12	management	management	NOUN
gujaf-145	33	13	,	,	PUNCT
gujaf-145	33	14	managerial	managerial	ADJ
gujaf-145	33	15	ownership	ownership	NOUN
gujaf-145	33	16	lowers	lower	VERB
gujaf-145	33	17	a	a	DET
gujaf-145	33	18	firm	firm	NOUN
gujaf-145	33	19	's	's	PART
gujaf-145	33	20	agency	agency	NOUN
gujaf-145	33	21	costs	cost	NOUN
gujaf-145	33	22	(	(	PUNCT
gujaf-145	33	23	mbatuegwu	mbatuegwu	ADV
gujaf-145	33	24	and	and	CCONJ
gujaf-145	33	25	musa	musa	PROPN
gujaf-145	33	26	,	,	PUNCT
gujaf-145	33	27	2021	2021	NUM
gujaf-145	33	28	;	;	PUNCT
gujaf-145	33	29	kazeem	kazeem	NOUN
gujaf-145	33	30	,	,	PUNCT
gujaf-145	33	31	2015	2015	NUM
gujaf-145	33	32	)	)	PUNCT
gujaf-145	33	33	.	.	PUNCT
gujaf-145	34	1	nigeria	nigeria	PROPN
gujaf-145	34	2	,	,	PUNCT
gujaf-145	34	3	a	a	DET
gujaf-145	34	4	developing	develop	VERB
gujaf-145	34	5	market	market	NOUN
gujaf-145	34	6	,	,	PUNCT
gujaf-145	34	7	differs	differ	VERB
gujaf-145	34	8	structurally	structurally	ADV
gujaf-145	34	9	and	and	CCONJ
gujaf-145	34	10	institutionally	institutionally	ADV
gujaf-145	34	11	from	from	ADP
gujaf-145	34	12	developed	develop	VERB
gujaf-145	34	13	stock	stock	NOUN
gujaf-145	34	14	markets	market	NOUN
gujaf-145	34	15	.	.	PUNCT
gujaf-145	35	1	it	it	PRON
gujaf-145	35	2	is	be	AUX
gujaf-145	35	3	crucial	crucial	ADJ
gujaf-145	35	4	to	to	PART
gujaf-145	35	5	ascertain	ascertain	VERB
gujaf-145	35	6	whether	whether	SCONJ
gujaf-145	35	7	firm	firm	ADJ
gujaf-145	35	8	-	-	PUNCT
gujaf-145	35	9	level	level	NOUN
gujaf-145	35	10	characteristics	characteristic	NOUN
gujaf-145	35	11	have	have	VERB
gujaf-145	35	12	a	a	DET
gujaf-145	35	13	different	different	ADJ
gujaf-145	35	14	impact	impact	NOUN
gujaf-145	35	15	on	on	ADP
gujaf-145	35	16	nigerian	nigerian	ADJ
gujaf-145	35	17	stock	stock	NOUN
gujaf-145	35	18	returns	return	NOUN
gujaf-145	35	19	.	.	PUNCT
gujaf-145	36	1	the	the	DET
gujaf-145	36	2	ownership	ownership	NOUN
gujaf-145	36	3	traits	trait	NOUN
gujaf-145	36	4	and	and	CCONJ
gujaf-145	36	5	stock	stock	NOUN
gujaf-145	36	6	returns	return	NOUN
gujaf-145	36	7	of	of	ADP
gujaf-145	36	8	publicly	publicly	ADV
gujaf-145	36	9	traded	trade	VERB
gujaf-145	36	10	consumer	consumer	NOUN
gujaf-145	36	11	goods	good	NOUN
gujaf-145	36	12	companies	company	NOUN
gujaf-145	36	13	in	in	ADP
gujaf-145	36	14	nigeria	nigeria	PROPN
gujaf-145	36	15	are	be	AUX
gujaf-145	36	16	examined	examine	VERB
gujaf-145	36	17	in	in	ADP
gujaf-145	36	18	this	this	DET
gujaf-145	36	19	study	study	NOUN
gujaf-145	36	20	.	.	PUNCT
gujaf-145	37	1	it	it	PRON
gujaf-145	37	2	is	be	AUX
gujaf-145	37	3	impossible	impossible	ADJ
gujaf-145	37	4	to	to	PART
gujaf-145	37	5	overstate	overstate	VERB
gujaf-145	37	6	how	how	SCONJ
gujaf-145	37	7	crucial	crucial	ADJ
gujaf-145	37	8	it	it	PRON
gujaf-145	37	9	is	be	AUX
gujaf-145	37	10	for	for	ADP
gujaf-145	37	11	publicly	publicly	ADV
gujaf-145	37	12	traded	trade	VERB
gujaf-145	37	13	companies	company	NOUN
gujaf-145	37	14	to	to	PART
gujaf-145	37	15	guarantee	guarantee	VERB
gujaf-145	37	16	a	a	DET
gujaf-145	37	17	steady	steady	ADJ
gujaf-145	37	18	return	return	NOUN
gujaf-145	37	19	on	on	ADP
gujaf-145	37	20	their	their	PRON
gujaf-145	37	21	stocks	stock	NOUN
gujaf-145	37	22	.	.	PUNCT
gujaf-145	38	1	this	this	PRON
gujaf-145	38	2	is	be	AUX
gujaf-145	38	3	so	so	SCONJ
gujaf-145	38	4	that	that	SCONJ
gujaf-145	38	5	investors	investor	NOUN
gujaf-145	38	6	can	can	AUX
gujaf-145	38	7	forecast	forecast	VERB
gujaf-145	38	8	the	the	DET
gujaf-145	38	9	company	company	NOUN
gujaf-145	38	10	's	's	PART
gujaf-145	38	11	future	future	ADJ
gujaf-145	38	12	earnings	earning	NOUN
gujaf-145	38	13	and	and	CCONJ
gujaf-145	38	14	learn	learn	VERB
gujaf-145	38	15	more	more	ADJ
gujaf-145	38	16	about	about	ADP
gujaf-145	38	17	managerial	managerial	ADJ
gujaf-145	38	18	and	and	CCONJ
gujaf-145	38	19	market	market	NOUN
gujaf-145	38	20	performance	performance	NOUN
gujaf-145	38	21	from	from	ADP
gujaf-145	38	22	stock	stock	NOUN
gujaf-145	38	23	returns	return	NOUN
gujaf-145	38	24	.	.	PUNCT
gujaf-145	39	1	however	however	ADV
gujaf-145	39	2	,	,	PUNCT
gujaf-145	39	3	at	at	ADP
gujaf-145	39	4	the	the	DET
gujaf-145	39	5	turn	turn	NOUN
gujaf-145	39	6	of	of	ADP
gujaf-145	39	7	the	the	DET
gujaf-145	39	8	century	century	NOUN
gujaf-145	39	9	,	,	PUNCT
gujaf-145	39	10	both	both	CCONJ
gujaf-145	39	11	the	the	DET
gujaf-145	39	12	global	global	ADJ
gujaf-145	39	13	3	3	NUM
gujaf-145	39	14	financial	financial	ADJ
gujaf-145	39	15	crisis	crisis	NOUN
gujaf-145	39	16	and	and	CCONJ
gujaf-145	39	17	corporate	corporate	ADJ
gujaf-145	39	18	scandals	scandal	NOUN
gujaf-145	39	19	around	around	ADP
gujaf-145	39	20	the	the	DET
gujaf-145	39	21	world	world	NOUN
gujaf-145	39	22	reduced	reduce	VERB
gujaf-145	39	23	investor	investor	NOUN
gujaf-145	39	24	confidence	confidence	NOUN
gujaf-145	39	25	.	.	PUNCT
gujaf-145	40	1	another	another	DET
gujaf-145	40	2	significant	significant	ADJ
gujaf-145	40	3	difference	difference	NOUN
gujaf-145	40	4	between	between	ADP
gujaf-145	40	5	this	this	DET
gujaf-145	40	6	study	study	NOUN
gujaf-145	40	7	and	and	CCONJ
gujaf-145	40	8	previous	previous	ADJ
gujaf-145	40	9	domestic	domestic	ADJ
gujaf-145	40	10	studies	study	NOUN
gujaf-145	40	11	is	be	AUX
gujaf-145	40	12	variable	variable	ADJ
gujaf-145	40	13	selection	selection	NOUN
gujaf-145	40	14	,	,	PUNCT
gujaf-145	40	15	with	with	ADP
gujaf-145	40	16	bawa	bawa	PROPN
gujaf-145	40	17	and	and	CCONJ
gujaf-145	40	18	isa	isa	PROPN
gujaf-145	40	19	(	(	PUNCT
gujaf-145	40	20	2014	2014	NUM
gujaf-145	40	21	)	)	PUNCT
gujaf-145	40	22	using	use	VERB
gujaf-145	40	23	the	the	DET
gujaf-145	40	24	proportion	proportion	NOUN
gujaf-145	40	25	of	of	ADP
gujaf-145	40	26	management	management	NOUN
gujaf-145	40	27	interest	interest	NOUN
gujaf-145	40	28	in	in	ADP
gujaf-145	40	29	firm	firm	ADJ
gujaf-145	40	30	equity	equity	NOUN
gujaf-145	40	31	and	and	CCONJ
gujaf-145	40	32	hajara	hajara	NOUN
gujaf-145	40	33	(	(	PUNCT
gujaf-145	40	34	2015	2015	NUM
gujaf-145	40	35	)	)	PUNCT
gujaf-145	40	36	using	use	VERB
gujaf-145	40	37	the	the	DET
gujaf-145	40	38	ratio	ratio	NOUN
gujaf-145	40	39	of	of	ADP
gujaf-145	40	40	equity	equity	NOUN
gujaf-145	40	41	share	share	NOUN
gujaf-145	40	42	of	of	ADP
gujaf-145	40	43	the	the	DET
gujaf-145	40	44	firm	firm	NOUN
gujaf-145	40	45	held	hold	VERB
gujaf-145	40	46	by	by	ADP
gujaf-145	40	47	an	an	DET
gujaf-145	40	48	institution	institution	NOUN
gujaf-145	40	49	.	.	PUNCT
gujaf-145	41	1	many	many	ADJ
gujaf-145	41	2	nigerian	nigerian	ADJ
gujaf-145	41	3	studies	study	NOUN
gujaf-145	41	4	have	have	AUX
gujaf-145	41	5	not	not	PART
gujaf-145	41	6	thoroughly	thoroughly	ADV
gujaf-145	41	7	addressed	address	VERB
gujaf-145	41	8	the	the	DET
gujaf-145	41	9	factors	factor	NOUN
gujaf-145	41	10	influencing	influence	VERB
gujaf-145	41	11	the	the	DET
gujaf-145	41	12	level	level	NOUN
gujaf-145	41	13	of	of	ADP
gujaf-145	41	14	stock	stock	NOUN
gujaf-145	41	15	returns	return	NOUN
gujaf-145	41	16	.	.	PUNCT
gujaf-145	42	1	to	to	ADP
gujaf-145	42	2	the	the	DET
gujaf-145	42	3	best	good	ADJ
gujaf-145	42	4	of	of	ADP
gujaf-145	42	5	researchers	researcher	NOUN
gujaf-145	42	6	'	'	PART
gujaf-145	42	7	knowledge	knowledge	NOUN
gujaf-145	42	8	and	and	CCONJ
gujaf-145	42	9	as	as	ADV
gujaf-145	42	10	far	far	ADV
gujaf-145	42	11	as	as	SCONJ
gujaf-145	42	12	literature	literature	NOUN
gujaf-145	42	13	reveals	reveal	VERB
gujaf-145	42	14	,	,	PUNCT
gujaf-145	42	15	the	the	DET
gujaf-145	42	16	macroeconomic	macroeconomic	ADJ
gujaf-145	42	17	factors	factor	NOUN
gujaf-145	42	18	such	such	ADJ
gujaf-145	42	19	as	as	ADP
gujaf-145	42	20	ownership	ownership	NOUN
gujaf-145	42	21	attributes	attribute	NOUN
gujaf-145	42	22	are	be	AUX
gujaf-145	42	23	investigated	investigate	VERB
gujaf-145	42	24	to	to	PART
gujaf-145	42	25	investigate	investigate	VERB
gujaf-145	42	26	their	their	PRON
gujaf-145	42	27	combined	combine	VERB
gujaf-145	42	28	individual	individual	ADJ
gujaf-145	42	29	impacts	impact	NOUN
gujaf-145	42	30	on	on	ADP
gujaf-145	42	31	stock	stock	NOUN
gujaf-145	42	32	returns	return	NOUN
gujaf-145	42	33	.	.	PUNCT
gujaf-145	43	1	most	most	ADJ
gujaf-145	43	2	studies	study	NOUN
gujaf-145	43	3	in	in	ADP
gujaf-145	43	4	nigeria	nigeria	PROPN
gujaf-145	43	5	have	have	AUX
gujaf-145	43	6	ignored	ignore	VERB
gujaf-145	43	7	governance	governance	NOUN
gujaf-145	43	8	and	and	CCONJ
gujaf-145	43	9	ownership	ownership	NOUN
gujaf-145	43	10	structures	structure	NOUN
gujaf-145	43	11	.	.	PUNCT
gujaf-145	44	1	meanwhile	meanwhile	ADV
gujaf-145	44	2	,	,	PUNCT
gujaf-145	44	3	research	research	NOUN
gujaf-145	44	4	has	have	AUX
gujaf-145	44	5	revealed	reveal	VERB
gujaf-145	44	6	that	that	SCONJ
gujaf-145	44	7	governance	governance	NOUN
gujaf-145	44	8	and	and	CCONJ
gujaf-145	44	9	ownership	ownership	NOUN
gujaf-145	44	10	structures	structure	NOUN
gujaf-145	44	11	are	be	AUX
gujaf-145	44	12	critical	critical	ADJ
gujaf-145	44	13	in	in	ADP
gujaf-145	44	14	determining	determine	VERB
gujaf-145	44	15	a	a	DET
gujaf-145	44	16	company	company	NOUN
gujaf-145	44	17	's	's	PART
gujaf-145	44	18	success	success	NOUN
gujaf-145	44	19	.	.	PUNCT
gujaf-145	45	1	additionally	additionally	ADV
gujaf-145	45	2	,	,	PUNCT
gujaf-145	45	3	the	the	DET
gujaf-145	45	4	time	time	NOUN
gujaf-145	45	5	periods	period	NOUN
gujaf-145	45	6	covered	cover	VERB
gujaf-145	45	7	by	by	ADP
gujaf-145	45	8	earlier	early	ADJ
gujaf-145	45	9	studies	study	NOUN
gujaf-145	45	10	in	in	ADP
gujaf-145	45	11	nigeria	nigeria	PROPN
gujaf-145	45	12	leave	leave	VERB
gujaf-145	45	13	a	a	DET
gujaf-145	45	14	gap	gap	NOUN
gujaf-145	45	15	in	in	ADP
gujaf-145	45	16	the	the	DET
gujaf-145	45	17	area	area	NOUN
gujaf-145	45	18	of	of	ADP
gujaf-145	45	19	study	study	NOUN
gujaf-145	45	20	's	's	PART
gujaf-145	45	21	coverage	coverage	NOUN
gujaf-145	45	22	.	.	PUNCT
gujaf-145	46	1	for	for	ADP
gujaf-145	46	2	instance	instance	NOUN
gujaf-145	46	3	,	,	PUNCT
gujaf-145	46	4	sayumwe	sayumwe	PROPN
gujaf-145	46	5	and	and	CCONJ
gujaf-145	46	6	amroune	amroune	PROPN
gujaf-145	46	7	(	(	PUNCT
gujaf-145	46	8	2017	2017	NUM
gujaf-145	46	9	)	)	PUNCT
gujaf-145	46	10	,	,	PUNCT
gujaf-145	46	11	adedoyin	adedoyin	PROPN
gujaf-145	46	12	(	(	PUNCT
gujaf-145	46	13	2011	2011	NUM
gujaf-145	46	14	)	)	PUNCT
gujaf-145	46	15	covered	cover	VERB
gujaf-145	46	16	the	the	DET
gujaf-145	46	17	period	period	NOUN
gujaf-145	46	18	from	from	ADP
gujaf-145	46	19	2004	2004	NUM
gujaf-145	46	20	to	to	ADP
gujaf-145	46	21	2009	2009	NUM
gujaf-145	46	22	;	;	PUNCT
gujaf-145	46	23	uwubanmwen	uwubanmwen	NOUN
gujaf-145	46	24	and	and	CCONJ
gujaf-145	46	25	obayagbona	obayagbona	PROPN
gujaf-145	46	26	(	(	PUNCT
gujaf-145	46	27	2012	2012	NUM
gujaf-145	46	28	)	)	PUNCT
gujaf-145	46	29	,	,	PUNCT
gujaf-145	46	30	the	the	DET
gujaf-145	46	31	period	period	NOUN
gujaf-145	46	32	from	from	ADP
gujaf-145	46	33	1996	1996	NUM
gujaf-145	46	34	to	to	ADP
gujaf-145	46	35	2010	2010	NUM
gujaf-145	46	36	;	;	PUNCT
gujaf-145	46	37	bala	bala	PROPN
gujaf-145	46	38	and	and	CCONJ
gujaf-145	46	39	idris	idris	PROPN
gujaf-145	46	40	(	(	PUNCT
gujaf-145	46	41	2015	2015	NUM
gujaf-145	46	42	)	)	PUNCT
gujaf-145	46	43	,	,	PUNCT
gujaf-145	46	44	the	the	DET
gujaf-145	46	45	period	period	NOUN
gujaf-145	46	46	from	from	ADP
gujaf-145	46	47	2007	2007	NUM
gujaf-145	46	48	to	to	ADP
gujaf-145	46	49	2013	2013	NUM
gujaf-145	46	50	;	;	PUNCT
gujaf-145	46	51	kazeem	kazeem	PROPN
gujaf-145	46	52	(	(	PUNCT
gujaf-145	46	53	2015	2015	NUM
gujaf-145	46	54	)	)	PUNCT
gujaf-145	46	55	,	,	PUNCT
gujaf-145	46	56	the	the	DET
gujaf-145	46	57	period	period	NOUN
gujaf-145	46	58	from	from	ADP
gujaf-145	46	59	2006	2006	NUM
gujaf-145	46	60	to	to	ADP
gujaf-145	46	61	2013	2013	NUM
gujaf-145	46	62	;	;	PUNCT
gujaf-145	46	63	and	and	CCONJ
gujaf-145	46	64	akwe	akwe	NOUN
gujaf-145	46	65	,	,	PUNCT
gujaf-145	46	66	garba	garba	NOUN
gujaf-145	46	67	,	,	PUNCT
gujaf-145	46	68	and	and	CCONJ
gujaf-145	46	69	dang	dang	VERB
gujaf-145	46	70	,	,	PUNCT
gujaf-145	46	71	the	the	DET
gujaf-145	46	72	period	period	NOUN
gujaf-145	46	73	from	from	ADP
gujaf-145	46	74	2006	2006	NUM
gujaf-145	46	75	to	to	ADP
gujaf-145	46	76	2013	2013	NUM
gujaf-145	46	77	.	.	PUNCT
gujaf-145	47	1	2018	2018	NUM
gujaf-145	47	2	research	research	NOUN
gujaf-145	47	3	by	by	ADP
gujaf-145	47	4	akwe	akwe	NOUN
gujaf-145	47	5	,	,	PUNCT
gujaf-145	47	6	garba	garba	NOUN
gujaf-145	47	7	,	,	PUNCT
gujaf-145	47	8	and	and	CCONJ
gujaf-145	47	9	dang	dang	INTJ
gujaf-145	47	10	examined	examine	VERB
gujaf-145	47	11	the	the	DET
gujaf-145	47	12	years	year	NOUN
gujaf-145	47	13	2007	2007	NUM
gujaf-145	47	14	to	to	ADP
gujaf-145	47	15	2016	2016	NUM
gujaf-145	47	16	.	.	PUNCT
gujaf-145	48	1	the	the	DET
gujaf-145	48	2	researchers	researcher	NOUN
gujaf-145	48	3	mentioned	mention	VERB
gujaf-145	48	4	above	above	ADV
gujaf-145	48	5	used	use	VERB
gujaf-145	48	6	relatively	relatively	ADV
gujaf-145	48	7	recent	recent	ADJ
gujaf-145	48	8	study	study	NOUN
gujaf-145	48	9	periods	period	NOUN
gujaf-145	48	10	.	.	PUNCT
gujaf-145	49	1	additionally	additionally	ADV
gujaf-145	49	2	,	,	PUNCT
gujaf-145	49	3	the	the	DET
gujaf-145	49	4	time	time	NOUN
gujaf-145	49	5	periods	period	NOUN
gujaf-145	49	6	covered	cover	VERB
gujaf-145	49	7	by	by	ADP
gujaf-145	49	8	earlier	early	ADJ
gujaf-145	49	9	studies	study	NOUN
gujaf-145	49	10	in	in	ADP
gujaf-145	49	11	nigeria	nigeria	PROPN
gujaf-145	49	12	leave	leave	VERB
gujaf-145	49	13	a	a	DET
gujaf-145	49	14	gap	gap	NOUN
gujaf-145	49	15	in	in	ADP
gujaf-145	49	16	the	the	DET
gujaf-145	49	17	area	area	NOUN
gujaf-145	49	18	of	of	ADP
gujaf-145	49	19	study	study	NOUN
gujaf-145	49	20	's	's	PART
gujaf-145	49	21	coverage	coverage	NOUN
gujaf-145	49	22	.	.	PUNCT
gujaf-145	50	1	for	for	ADP
gujaf-145	50	2	instance	instance	NOUN
gujaf-145	50	3	,	,	PUNCT
gujaf-145	50	4	adedoyin	adedoyin	PROPN
gujaf-145	50	5	(	(	PUNCT
gujaf-145	50	6	2011	2011	NUM
gujaf-145	50	7	)	)	PUNCT
gujaf-145	50	8	covered	cover	VERB
gujaf-145	50	9	the	the	DET
gujaf-145	50	10	period	period	NOUN
gujaf-145	50	11	from	from	ADP
gujaf-145	50	12	2004	2004	NUM
gujaf-145	50	13	to	to	ADP
gujaf-145	50	14	2009	2009	NUM
gujaf-145	50	15	;	;	PUNCT
gujaf-145	50	16	uwubanmwen	uwubanmwen	NOUN
gujaf-145	50	17	and	and	CCONJ
gujaf-145	50	18	obayagbona	obayagbona	PROPN
gujaf-145	50	19	(	(	PUNCT
gujaf-145	50	20	2012	2012	NUM
gujaf-145	50	21	)	)	PUNCT
gujaf-145	50	22	,	,	PUNCT
gujaf-145	50	23	the	the	DET
gujaf-145	50	24	period	period	NOUN
gujaf-145	50	25	from	from	ADP
gujaf-145	50	26	1996	1996	NUM
gujaf-145	50	27	to	to	ADP
gujaf-145	50	28	2010	2010	NUM
gujaf-145	50	29	;	;	PUNCT
gujaf-145	50	30	bala	bala	PROPN
gujaf-145	50	31	and	and	CCONJ
gujaf-145	50	32	idris	idris	PROPN
gujaf-145	50	33	(	(	PUNCT
gujaf-145	50	34	2015	2015	NUM
gujaf-145	50	35	)	)	PUNCT
gujaf-145	50	36	,	,	PUNCT
gujaf-145	50	37	the	the	DET
gujaf-145	50	38	period	period	NOUN
gujaf-145	50	39	from	from	ADP
gujaf-145	50	40	2007	2007	NUM
gujaf-145	50	41	to	to	ADP
gujaf-145	50	42	2013	2013	NUM
gujaf-145	50	43	;	;	PUNCT
gujaf-145	50	44	kazeem	kazeem	PROPN
gujaf-145	50	45	(	(	PUNCT
gujaf-145	50	46	2015	2015	NUM
gujaf-145	50	47	)	)	PUNCT
gujaf-145	50	48	,	,	PUNCT
gujaf-145	50	49	the	the	DET
gujaf-145	50	50	period	period	NOUN
gujaf-145	50	51	from	from	ADP
gujaf-145	50	52	2006	2006	NUM
gujaf-145	50	53	to	to	ADP
gujaf-145	50	54	2013	2013	NUM
gujaf-145	50	55	;	;	PUNCT
gujaf-145	50	56	and	and	CCONJ
gujaf-145	50	57	akwe	akwe	NOUN
gujaf-145	50	58	,	,	PUNCT
gujaf-145	50	59	garba	garba	NOUN
gujaf-145	50	60	,	,	PUNCT
gujaf-145	50	61	and	and	CCONJ
gujaf-145	50	62	dang	dang	VERB
gujaf-145	50	63	,	,	PUNCT
gujaf-145	50	64	the	the	DET
gujaf-145	50	65	period	period	NOUN
gujaf-145	50	66	from	from	ADP
gujaf-145	50	67	2006	2006	NUM
gujaf-145	50	68	to	to	ADP
gujaf-145	50	69	2013	2013	NUM
gujaf-145	50	70	.	.	PUNCT
gujaf-145	51	1	2018	2018	NUM
gujaf-145	51	2	research	research	NOUN
gujaf-145	51	3	by	by	ADP
gujaf-145	51	4	akwe	akwe	NOUN
gujaf-145	51	5	,	,	PUNCT
gujaf-145	51	6	garba	garba	NOUN
gujaf-145	51	7	,	,	PUNCT
gujaf-145	51	8	and	and	CCONJ
gujaf-145	51	9	dang	dang	INTJ
gujaf-145	51	10	examined	examine	VERB
gujaf-145	51	11	the	the	DET
gujaf-145	51	12	years	year	NOUN
gujaf-145	51	13	2007	2007	NUM
gujaf-145	51	14	to	to	ADP
gujaf-145	51	15	2016	2016	NUM
gujaf-145	51	16	.	.	PUNCT
gujaf-145	52	1	the	the	DET
gujaf-145	52	2	researchers	researcher	NOUN
gujaf-145	52	3	mentioned	mention	VERB
gujaf-145	52	4	above	above	ADV
gujaf-145	52	5	used	use	VERB
gujaf-145	52	6	relatively	relatively	ADV
gujaf-145	52	7	recent	recent	ADJ
gujaf-145	52	8	study	study	NOUN
gujaf-145	52	9	periods	period	NOUN
gujaf-145	52	10	.	.	PUNCT
gujaf-145	53	1	h01	h01	NOUN
gujaf-145	53	2	ownership	ownership	NOUN
gujaf-145	53	3	attributes	attribute	NOUN
gujaf-145	53	4	has	have	VERB
gujaf-145	53	5	no	no	DET
gujaf-145	53	6	significant	significant	ADJ
gujaf-145	53	7	impact	impact	NOUN
gujaf-145	53	8	on	on	ADP
gujaf-145	53	9	the	the	DET
gujaf-145	53	10	stock	stock	NOUN
gujaf-145	53	11	returns	return	NOUN
gujaf-145	53	12	of	of	ADP
gujaf-145	53	13	quoted	quote	VERB
gujaf-145	53	14	consumer	consumer	NOUN
gujaf-145	53	15	goods	good	NOUN
gujaf-145	53	16	companies	company	NOUN
gujaf-145	53	17	in	in	ADP
gujaf-145	53	18	nigeria	nigeria	PROPN
gujaf-145	53	19	.	.	PUNCT
gujaf-145	54	1	2	2	X
gujaf-145	54	2	.	.	X
gujaf-145	54	3	literature	literature	NOUN
gujaf-145	54	4	review	review	PROPN
gujaf-145	54	5	according	accord	VERB
gujaf-145	54	6	to	to	ADP
gujaf-145	54	7	mbatuegwu	mbatuegwu	PROPN
gujaf-145	54	8	and	and	CCONJ
gujaf-145	54	9	ogoh	ogoh	PROPN
gujaf-145	54	10	(	(	PUNCT
gujaf-145	54	11	2021	2021	NUM
gujaf-145	54	12	)	)	PUNCT
gujaf-145	54	13	,	,	PUNCT
gujaf-145	54	14	johnson	johnson	PROPN
gujaf-145	54	15	,	,	PUNCT
gujaf-145	54	16	daily	daily	ADV
gujaf-145	54	17	,	,	PUNCT
gujaf-145	54	18	and	and	CCONJ
gujaf-145	54	19	ellstrand	ellstrand	NOUN
gujaf-145	54	20	(	(	PUNCT
gujaf-145	54	21	2000	2000	NUM
gujaf-145	54	22	)	)	PUNCT
gujaf-145	54	23	,	,	PUNCT
gujaf-145	54	24	ownership	ownership	NOUN
gujaf-145	54	25	serves	serve	VERB
gujaf-145	54	26	as	as	ADP
gujaf-145	54	27	a	a	DET
gujaf-145	54	28	check	check	NOUN
gujaf-145	54	29	on	on	ADP
gujaf-145	54	30	management	management	NOUN
gujaf-145	54	31	.	.	PUNCT
gujaf-145	55	1	due	due	ADP
gujaf-145	55	2	to	to	ADP
gujaf-145	55	3	a	a	DET
gujaf-145	55	4	lack	lack	NOUN
gujaf-145	55	5	of	of	ADP
gujaf-145	55	6	monitoring	monitoring	NOUN
gujaf-145	55	7	expertise	expertise	NOUN
gujaf-145	55	8	,	,	PUNCT
gujaf-145	55	9	inadequate	inadequate	ADJ
gujaf-145	55	10	shareholder	shareholder	NOUN
gujaf-145	55	11	protection	protection	NOUN
gujaf-145	55	12	,	,	PUNCT
gujaf-145	55	13	and	and	CCONJ
gujaf-145	55	14	the	the	DET
gujaf-145	55	15	free	free	ADJ
gujaf-145	55	16	-	-	PUNCT
gujaf-145	55	17	rider	rider	NOUN
gujaf-145	55	18	issue	issue	NOUN
gujaf-145	55	19	brought	bring	VERB
gujaf-145	55	20	on	on	ADP
gujaf-145	55	21	by	by	ADP
gujaf-145	55	22	expensive	expensive	ADJ
gujaf-145	55	23	monitoring	monitoring	NOUN
gujaf-145	55	24	,	,	PUNCT
gujaf-145	55	25	individual	individual	ADJ
gujaf-145	55	26	shareholders	shareholder	NOUN
gujaf-145	55	27	lack	lack	VERB
gujaf-145	55	28	strong	strong	ADJ
gujaf-145	55	29	incentives	incentive	NOUN
gujaf-145	55	30	to	to	PART
gujaf-145	55	31	oversee	oversee	VERB
gujaf-145	55	32	management	management	NOUN
gujaf-145	55	33	4	4	NUM
gujaf-145	55	34	in	in	ADP
gujaf-145	55	35	atomistic	atomistic	ADJ
gujaf-145	55	36	markets	market	NOUN
gujaf-145	55	37	.	.	PUNCT
gujaf-145	56	1	in	in	ADP
gujaf-145	56	2	the	the	DET
gujaf-145	56	3	case	case	NOUN
gujaf-145	56	4	of	of	ADP
gujaf-145	56	5	large	large	ADJ
gujaf-145	56	6	,	,	PUNCT
gujaf-145	56	7	concentrated	concentrated	ADJ
gujaf-145	56	8	ownership	ownership	NOUN
gujaf-145	56	9	,	,	PUNCT
gujaf-145	56	10	the	the	DET
gujaf-145	56	11	issue	issue	NOUN
gujaf-145	56	12	of	of	ADP
gujaf-145	56	13	free	free	ADJ
gujaf-145	56	14	riding	riding	NOUN
gujaf-145	56	15	brought	bring	VERB
gujaf-145	56	16	about	about	ADP
gujaf-145	56	17	by	by	ADP
gujaf-145	56	18	diffuse	diffuse	ADJ
gujaf-145	56	19	shareholders	shareholder	NOUN
gujaf-145	56	20	might	might	AUX
gujaf-145	56	21	be	be	AUX
gujaf-145	56	22	less	less	ADV
gujaf-145	56	23	severe	severe	ADJ
gujaf-145	56	24	.	.	PUNCT
gujaf-145	57	1	large	large	ADJ
gujaf-145	57	2	shareholders	shareholder	NOUN
gujaf-145	57	3	are	be	AUX
gujaf-145	57	4	also	also	ADV
gujaf-145	57	5	more	more	ADV
gujaf-145	57	6	likely	likely	ADJ
gujaf-145	57	7	to	to	PART
gujaf-145	57	8	vote	vote	VERB
gujaf-145	57	9	wisely	wisely	ADV
gujaf-145	57	10	and	and	CCONJ
gujaf-145	57	11	be	be	AUX
gujaf-145	57	12	well	well	ADV
gujaf-145	57	13	-	-	PUNCT
gujaf-145	57	14	informed	inform	VERB
gujaf-145	57	15	.	.	PUNCT
gujaf-145	58	1	controlling	control	VERB
gujaf-145	58	2	shareholders	shareholder	NOUN
gujaf-145	58	3	may	may	AUX
gujaf-145	58	4	use	use	VERB
gujaf-145	58	5	their	their	PRON
gujaf-145	58	6	personal	personal	ADJ
gujaf-145	58	7	benefits	benefit	NOUN
gujaf-145	58	8	of	of	ADP
gujaf-145	58	9	control	control	NOUN
gujaf-145	58	10	to	to	PART
gujaf-145	58	11	divert	divert	VERB
gujaf-145	58	12	assets	asset	NOUN
gujaf-145	58	13	and	and	CCONJ
gujaf-145	58	14	profits	profit	NOUN
gujaf-145	58	15	away	away	ADV
gujaf-145	58	16	from	from	ADP
gujaf-145	58	17	the	the	DET
gujaf-145	58	18	company	company	NOUN
gujaf-145	58	19	,	,	PUNCT
gujaf-145	58	20	depending	depend	VERB
gujaf-145	58	21	on	on	ADP
gujaf-145	58	22	the	the	DET
gujaf-145	58	23	regulatory	regulatory	ADJ
gujaf-145	58	24	and	and	CCONJ
gujaf-145	58	25	legal	legal	ADJ
gujaf-145	58	26	environment	environment	NOUN
gujaf-145	58	27	.	.	PUNCT
gujaf-145	59	1	firm	firm	ADJ
gujaf-145	59	2	ownership	ownership	NOUN
gujaf-145	59	3	is	be	AUX
gujaf-145	59	4	highly	highly	ADV
gujaf-145	59	5	concentrated	concentrated	ADJ
gujaf-145	59	6	in	in	ADP
gujaf-145	59	7	some	some	DET
gujaf-145	59	8	countries	country	NOUN
gujaf-145	59	9	,	,	PUNCT
gujaf-145	59	10	especially	especially	ADV
gujaf-145	59	11	in	in	ADP
gujaf-145	59	12	continental	continental	PROPN
gujaf-145	59	13	europe	europe	PROPN
gujaf-145	59	14	(	(	PUNCT
gujaf-145	59	15	becht	becht	NOUN
gujaf-145	59	16	&	&	CCONJ
gujaf-145	59	17	roell	roell	PROPN
gujaf-145	59	18	,	,	PUNCT
gujaf-145	59	19	1999	1999	NUM
gujaf-145	59	20	)	)	PUNCT
gujaf-145	59	21	.	.	PUNCT
gujaf-145	60	1	in	in	ADP
gujaf-145	60	2	comparison	comparison	NOUN
gujaf-145	60	3	to	to	ADP
gujaf-145	60	4	european	european	ADJ
gujaf-145	60	5	financial	financial	ADJ
gujaf-145	60	6	firms	firm	NOUN
gujaf-145	60	7	,	,	PUNCT
gujaf-145	60	8	us	us	PROPN
gujaf-145	60	9	firms	firm	NOUN
gujaf-145	60	10	have	have	VERB
gujaf-145	60	11	more	more	ADJ
gujaf-145	60	12	institutional	institutional	ADJ
gujaf-145	60	13	ownership	ownership	NOUN
gujaf-145	60	14	and	and	CCONJ
gujaf-145	60	15	fewer	few	ADJ
gujaf-145	60	16	large	large	ADJ
gujaf-145	60	17	shareholders	shareholder	NOUN
gujaf-145	60	18	.	.	PUNCT
gujaf-145	61	1	however	however	ADV
gujaf-145	61	2	,	,	PUNCT
gujaf-145	61	3	institutional	institutional	ADJ
gujaf-145	61	4	ownership	ownership	NOUN
gujaf-145	61	5	of	of	ADP
gujaf-145	61	6	banks	bank	NOUN
gujaf-145	61	7	in	in	ADP
gujaf-145	61	8	the	the	DET
gujaf-145	61	9	united	united	PROPN
gujaf-145	61	10	states	states	PROPN
gujaf-145	61	11	is	be	AUX
gujaf-145	61	12	significantly	significantly	ADV
gujaf-145	61	13	lower	low	ADJ
gujaf-145	61	14	than	than	ADP
gujaf-145	61	15	in	in	ADP
gujaf-145	61	16	non	non	ADJ
gujaf-145	61	17	-	-	ADJ
gujaf-145	61	18	financial	financial	ADJ
gujaf-145	61	19	firms	firm	NOUN
gujaf-145	61	20	,	,	PUNCT
gujaf-145	61	21	according	accord	VERB
gujaf-145	61	22	to	to	ADP
gujaf-145	61	23	adams	adams	PROPN
gujaf-145	61	24	and	and	CCONJ
gujaf-145	61	25	mehran	mehran	PROPN
gujaf-145	61	26	(	(	PUNCT
gujaf-145	61	27	2003	2003	NUM
gujaf-145	61	28	)	)	PUNCT
gujaf-145	61	29	.	.	PUNCT
gujaf-145	62	1	managerial	managerial	ADJ
gujaf-145	62	2	ownership	ownership	NOUN
gujaf-145	62	3	the	the	DET
gujaf-145	62	4	agency	agency	NOUN
gujaf-145	62	5	theory	theory	NOUN
gujaf-145	62	6	,	,	PUNCT
gujaf-145	62	7	which	which	PRON
gujaf-145	62	8	contends	contend	VERB
gujaf-145	62	9	that	that	SCONJ
gujaf-145	62	10	a	a	DET
gujaf-145	62	11	manager	manager	NOUN
gujaf-145	62	12	's	's	PART
gujaf-145	62	13	equity	equity	NOUN
gujaf-145	62	14	holdings	holding	NOUN
gujaf-145	62	15	motivate	motivate	VERB
gujaf-145	62	16	them	they	PRON
gujaf-145	62	17	to	to	PART
gujaf-145	62	18	act	act	VERB
gujaf-145	62	19	in	in	ADP
gujaf-145	62	20	a	a	DET
gujaf-145	62	21	way	way	NOUN
gujaf-145	62	22	that	that	PRON
gujaf-145	62	23	maximizes	maximize	VERB
gujaf-145	62	24	the	the	DET
gujaf-145	62	25	firm	firm	NOUN
gujaf-145	62	26	's	's	PART
gujaf-145	62	27	value	value	NOUN
gujaf-145	62	28	,	,	PUNCT
gujaf-145	62	29	is	be	AUX
gujaf-145	62	30	the	the	DET
gujaf-145	62	31	basis	basis	NOUN
gujaf-145	62	32	for	for	ADP
gujaf-145	62	33	the	the	DET
gujaf-145	62	34	rise	rise	NOUN
gujaf-145	62	35	of	of	ADP
gujaf-145	62	36	this	this	DET
gujaf-145	62	37	corporate	corporate	ADJ
gujaf-145	62	38	governance	governance	NOUN
gujaf-145	62	39	variable	variable	NOUN
gujaf-145	62	40	(	(	PUNCT
gujaf-145	62	41	mbatuegwu	mbatuegwu	ADV
gujaf-145	62	42	,	,	PUNCT
gujaf-145	62	43	uwaleke	uwaleke	ADJ
gujaf-145	62	44	,	,	PUNCT
gujaf-145	62	45	and	and	CCONJ
gujaf-145	62	46	aza	aza	NOUN
gujaf-145	62	47	,	,	PUNCT
gujaf-145	62	48	2019	2019	NUM
gujaf-145	62	49	)	)	PUNCT
gujaf-145	62	50	.	.	PUNCT
gujaf-145	63	1	according	accord	VERB
gujaf-145	63	2	to	to	ADP
gujaf-145	63	3	warfield	warfield	PROPN
gujaf-145	63	4	(	(	PUNCT
gujaf-145	63	5	1995	1995	NUM
gujaf-145	63	6	)	)	PUNCT
gujaf-145	63	7	,	,	PUNCT
gujaf-145	63	8	the	the	DET
gujaf-145	63	9	interests	interest	NOUN
gujaf-145	63	10	of	of	ADP
gujaf-145	63	11	shareholders	shareholder	NOUN
gujaf-145	63	12	and	and	CCONJ
gujaf-145	63	13	management	management	NOUN
gujaf-145	63	14	start	start	VERB
gujaf-145	63	15	to	to	PART
gujaf-145	63	16	align	align	VERB
gujaf-145	63	17	when	when	SCONJ
gujaf-145	63	18	management	management	NOUN
gujaf-145	63	19	owns	own	VERB
gujaf-145	63	20	a	a	DET
gujaf-145	63	21	portion	portion	NOUN
gujaf-145	63	22	of	of	ADP
gujaf-145	63	23	the	the	DET
gujaf-145	63	24	company	company	NOUN
gujaf-145	63	25	's	's	PART
gujaf-145	63	26	equity	equity	NOUN
gujaf-145	63	27	.	.	PUNCT
gujaf-145	64	1	(	(	PUNCT
gujaf-145	64	2	jensen	jensen	PROPN
gujaf-145	64	3	&	&	CCONJ
gujaf-145	64	4	meckling	meckling	PROPN
gujaf-145	64	5	,	,	PUNCT
gujaf-145	64	6	1976	1976	NUM
gujaf-145	64	7	;	;	PUNCT
gujaf-145	64	8	healy	healy	PROPN
gujaf-145	64	9	,	,	PUNCT
gujaf-145	64	10	1985	1985	NUM
gujaf-145	64	11	;	;	PUNCT
gujaf-145	64	12	houlthausen	houlthausen	PROPN
gujaf-145	64	13	,	,	PUNCT
gujaf-145	64	14	1995	1995	NUM
gujaf-145	64	15	;	;	PUNCT
gujaf-145	64	16	warfield	warfield	PROPN
gujaf-145	64	17	,	,	PUNCT
gujaf-145	64	18	1995	1995	NUM
gujaf-145	64	19	;	;	PUNCT
gujaf-145	64	20	and	and	CCONJ
gujaf-145	64	21	mbatuegwu	mbatuegwu	ADV
gujaf-145	64	22	,	,	PUNCT
gujaf-145	64	23	2021	2021	NUM
gujaf-145	64	24	)	)	PUNCT
gujaf-145	64	25	.	.	PUNCT
gujaf-145	65	1	the	the	DET
gujaf-145	65	2	contracting	contracting	NOUN
gujaf-145	65	3	agency	agency	NOUN
gujaf-145	65	4	website	website	NOUN
gujaf-145	65	5	depicts	depict	VERB
gujaf-145	65	6	those	those	DET
gujaf-145	65	7	shareholders	shareholder	NOUN
gujaf-145	65	8	as	as	ADP
gujaf-145	65	9	having	have	VERB
gujaf-145	65	10	to	to	PART
gujaf-145	65	11	make	make	VERB
gujaf-145	65	12	a	a	DET
gujaf-145	65	13	decision	decision	NOUN
gujaf-145	65	14	.	.	PUNCT
gujaf-145	66	1	managers	manager	NOUN
gujaf-145	66	2	'	'	PART
gujaf-145	66	3	incentives	incentive	NOUN
gujaf-145	66	4	become	become	VERB
gujaf-145	66	5	more	more	ADV
gujaf-145	66	6	aligned	aligned	ADJ
gujaf-145	66	7	with	with	ADP
gujaf-145	66	8	those	those	PRON
gujaf-145	66	9	of	of	ADP
gujaf-145	66	10	shareholders	shareholder	NOUN
gujaf-145	66	11	as	as	SCONJ
gujaf-145	66	12	their	their	PRON
gujaf-145	66	13	stake	stake	NOUN
gujaf-145	66	14	in	in	ADP
gujaf-145	66	15	the	the	DET
gujaf-145	66	16	company	company	NOUN
gujaf-145	66	17	grows	grow	VERB
gujaf-145	66	18	.	.	PUNCT
gujaf-145	67	1	owners	owner	NOUN
gujaf-145	67	2	benefit	benefit	VERB
gujaf-145	67	3	from	from	ADP
gujaf-145	67	4	increased	increase	VERB
gujaf-145	67	5	managerial	managerial	ADJ
gujaf-145	67	6	ownership	ownership	NOUN
gujaf-145	67	7	because	because	SCONJ
gujaf-145	67	8	incentives	incentive	NOUN
gujaf-145	67	9	are	be	AUX
gujaf-145	67	10	better	well	ADV
gujaf-145	67	11	aligned	align	VERB
gujaf-145	67	12	,	,	PUNCT
gujaf-145	67	13	but	but	CCONJ
gujaf-145	67	14	they	they	PRON
gujaf-145	67	15	incur	incur	VERB
gujaf-145	67	16	additional	additional	ADJ
gujaf-145	67	17	costs	cost	NOUN
gujaf-145	67	18	because	because	SCONJ
gujaf-145	67	19	they	they	PRON
gujaf-145	67	20	must	must	AUX
gujaf-145	67	21	pay	pay	VERB
gujaf-145	67	22	managers	manager	NOUN
gujaf-145	67	23	more	more	ADV
gujaf-145	67	24	.	.	PUNCT
gujaf-145	68	1	according	accord	VERB
gujaf-145	68	2	to	to	ADP
gujaf-145	68	3	the	the	DET
gujaf-145	68	4	theory	theory	NOUN
gujaf-145	68	5	,	,	PUNCT
gujaf-145	68	6	managers	manager	NOUN
gujaf-145	68	7	make	make	VERB
gujaf-145	68	8	decisions	decision	NOUN
gujaf-145	68	9	within	within	ADP
gujaf-145	68	10	the	the	DET
gujaf-145	68	11	constraints	constraint	NOUN
gujaf-145	68	12	imposed	impose	VERB
gujaf-145	68	13	by	by	ADP
gujaf-145	68	14	shareholders	shareholder	NOUN
gujaf-145	68	15	.	.	PUNCT
gujaf-145	69	1	ownership	ownership	NOUN
gujaf-145	69	2	concentration	concentration	NOUN
gujaf-145	69	3	the	the	DET
gujaf-145	69	4	amount	amount	NOUN
gujaf-145	69	5	of	of	ADP
gujaf-145	69	6	time	time	NOUN
gujaf-145	69	7	spent	spend	VERB
gujaf-145	69	8	on	on	ADP
gujaf-145	69	9	the	the	DET
gujaf-145	69	10	existence	existence	NOUN
gujaf-145	69	11	of	of	ADP
gujaf-145	69	12	large	large	ADJ
gujaf-145	69	13	block	block	NOUN
gujaf-145	69	14	holders	holder	NOUN
gujaf-145	69	15	in	in	ADP
gujaf-145	69	16	a	a	DET
gujaf-145	69	17	firm	firm	NOUN
gujaf-145	69	18	is	be	AUX
gujaf-145	69	19	referred	refer	VERB
gujaf-145	69	20	to	to	ADP
gujaf-145	69	21	as	as	ADP
gujaf-145	69	22	ownership	ownership	NOUN
gujaf-145	69	23	concentration	concentration	NOUN
gujaf-145	69	24	(	(	PUNCT
gujaf-145	69	25	thomsen	thomsen	PROPN
gujaf-145	69	26	&	&	CCONJ
gujaf-145	69	27	pedersan	pedersan	PROPN
gujaf-145	69	28	,	,	PUNCT
gujaf-145	69	29	2000	2000	NUM
gujaf-145	69	30	)	)	PUNCT
gujaf-145	69	31	.	.	PUNCT
gujaf-145	70	1	a	a	DET
gujaf-145	70	2	major	major	ADJ
gujaf-145	70	3	stockholder	stockholder	NOUN
gujaf-145	70	4	is	be	AUX
gujaf-145	70	5	typically	typically	ADV
gujaf-145	70	6	defined	define	VERB
gujaf-145	70	7	as	as	ADP
gujaf-145	70	8	someone	someone	PRON
gujaf-145	70	9	who	who	PRON
gujaf-145	70	10	owns	own	VERB
gujaf-145	70	11	5	5	NUM
gujaf-145	70	12	%	%	NOUN
gujaf-145	70	13	or	or	CCONJ
gujaf-145	70	14	more	more	ADJ
gujaf-145	70	15	of	of	ADP
gujaf-145	70	16	the	the	DET
gujaf-145	70	17	company	company	NOUN
gujaf-145	70	18	's	's	PART
gujaf-145	70	19	equity	equity	NOUN
gujaf-145	70	20	.	.	PUNCT
gujaf-145	71	1	an	an	DET
gujaf-145	71	2	owner	owner	NOUN
gujaf-145	71	3	's	's	PART
gujaf-145	71	4	shareholding	shareholding	NOUN
gujaf-145	71	5	should	should	AUX
gujaf-145	71	6	be	be	AUX
gujaf-145	71	7	substantial	substantial	ADJ
gujaf-145	71	8	enough	enough	ADV
gujaf-145	71	9	to	to	PART
gujaf-145	71	10	allow	allow	VERB
gujaf-145	71	11	for	for	ADP
gujaf-145	71	12	oversight	oversight	NOUN
gujaf-145	71	13	of	of	ADP
gujaf-145	71	14	management	management	NOUN
gujaf-145	71	15	actions	action	NOUN
gujaf-145	71	16	.	.	PUNCT
gujaf-145	72	1	an	an	DET
gujaf-145	72	2	individual	individual	NOUN
gujaf-145	72	3	,	,	PUNCT
gujaf-145	72	4	a	a	DET
gujaf-145	72	5	domestic	domestic	ADJ
gujaf-145	72	6	or	or	CCONJ
gujaf-145	72	7	foreign	foreign	ADJ
gujaf-145	72	8	corporation	corporation	NOUN
gujaf-145	72	9	,	,	PUNCT
gujaf-145	72	10	an	an	DET
gujaf-145	72	11	institutional	institutional	ADJ
gujaf-145	72	12	investor	investor	NOUN
gujaf-145	72	13	,	,	PUNCT
gujaf-145	72	14	or	or	CCONJ
gujaf-145	72	15	the	the	DET
gujaf-145	72	16	state	state	NOUN
gujaf-145	72	17	can	can	AUX
gujaf-145	72	18	be	be	AUX
gujaf-145	72	19	the	the	DET
gujaf-145	72	20	majority	majority	NOUN
gujaf-145	72	21	shareholder	shareholder	NOUN
gujaf-145	72	22	.	.	PUNCT
gujaf-145	73	1	large	large	ADJ
gujaf-145	73	2	block	block	NOUN
gujaf-145	73	3	holders	holder	NOUN
gujaf-145	73	4	have	have	VERB
gujaf-145	73	5	a	a	DET
gujaf-145	73	6	stronger	strong	ADJ
gujaf-145	73	7	incentive	incentive	NOUN
gujaf-145	73	8	to	to	PART
gujaf-145	73	9	monitor	monitor	VERB
gujaf-145	73	10	management	management	NOUN
gujaf-145	73	11	because	because	SCONJ
gujaf-145	73	12	the	the	DET
gujaf-145	73	13	costs	cost	NOUN
gujaf-145	73	14	of	of	ADP
gujaf-145	73	15	monitoring	monitoring	NOUN
gujaf-145	73	16	are	be	AUX
gujaf-145	73	17	less	less	ADJ
gujaf-145	73	18	than	than	ADP
gujaf-145	73	19	the	the	DET
gujaf-145	73	20	benefits	benefit	NOUN
gujaf-145	73	21	of	of	ADP
gujaf-145	73	22	large	large	ADJ
gujaf-145	73	23	equity	equity	NOUN
gujaf-145	73	24	stakes	stake	NOUN
gujaf-145	73	25	in	in	ADP
gujaf-145	73	26	the	the	DET
gujaf-145	73	27	company	company	NOUN
gujaf-145	73	28	.	.	PUNCT
gujaf-145	74	1	according	accord	VERB
gujaf-145	74	2	to	to	ADP
gujaf-145	74	3	ramsey	ramsey	PROPN
gujaf-145	74	4	and	and	CCONJ
gujaf-145	74	5	blair	blair	PROPN
gujaf-145	74	6	(	(	PUNCT
gujaf-145	74	7	1993	1993	NUM
gujaf-145	74	8	)	)	PUNCT
gujaf-145	74	9	,	,	PUNCT
gujaf-145	74	10	increased	increase	VERB
gujaf-145	74	11	ownership	ownership	NOUN
gujaf-145	74	12	concentration	concentration	NOUN
gujaf-145	74	13	provides	provide	VERB
gujaf-145	74	14	large	large	ADJ
gujaf-145	74	15	block	block	NOUN
gujaf-145	74	16	holders	holder	NOUN
gujaf-145	74	17	with	with	ADP
gujaf-145	74	18	enough	enough	ADJ
gujaf-145	74	19	incentives	incentive	NOUN
gujaf-145	74	20	to	to	PART
gujaf-145	74	21	monitor	monitor	VERB
gujaf-145	74	22	managers	manager	NOUN
gujaf-145	74	23	.	.	PUNCT
gujaf-145	75	1	demsetz	demsetz	VERB
gujaf-145	75	2	and	and	CCONJ
gujaf-145	75	3	lehn	lehn	NOUN
gujaf-145	75	4	(	(	PUNCT
gujaf-145	75	5	1983	1983	NUM
gujaf-145	75	6	)	)	PUNCT
gujaf-145	75	7	and	and	CCONJ
gujaf-145	75	8	stiglitz	stiglitz	PROPN
gujaf-145	75	9	(	(	PUNCT
gujaf-145	75	10	1985	1985	NUM
gujaf-145	75	11	)	)	PUNCT
gujaf-145	75	12	discovered	discover	VERB
gujaf-145	75	13	that	that	SCONJ
gujaf-145	75	14	large	large	ADJ
gujaf-145	75	15	block	block	NOUN
gujaf-145	75	16	holders	holder	NOUN
gujaf-145	75	17	have	have	VERB
gujaf-145	75	18	an	an	DET
gujaf-145	75	19	incentive	incentive	NOUN
gujaf-145	75	20	to	to	PART
gujaf-145	75	21	bear	bear	VERB
gujaf-145	75	22	the	the	DET
gujaf-145	75	23	fixed	fix	VERB
gujaf-145	75	24	cost	cost	NOUN
gujaf-145	75	25	of	of	ADP
gujaf-145	75	26	gathering	gather	VERB
gujaf-145	75	27	information	information	NOUN
gujaf-145	75	28	and	and	CCONJ
gujaf-145	75	29	participating	participate	VERB
gujaf-145	75	30	in	in	ADP
gujaf-145	75	31	monitoring	monitor	VERB
gujaf-145	75	32	mechanisms	mechanism	NOUN
gujaf-145	75	33	.	.	PUNCT
gujaf-145	76	1	ownership	ownership	NOUN
gujaf-145	76	2	concentration	concentration	NOUN
gujaf-145	76	3	refers	refer	VERB
gujaf-145	76	4	to	to	ADP
gujaf-145	76	5	the	the	DET
gujaf-145	76	6	distribution	distribution	NOUN
gujaf-145	76	7	of	of	ADP
gujaf-145	76	8	5	5	NUM
gujaf-145	76	9	shares	share	NOUN
gujaf-145	76	10	held	hold	VERB
gujaf-145	76	11	by	by	ADP
gujaf-145	76	12	a	a	DET
gujaf-145	76	13	particular	particular	ADJ
gujaf-145	76	14	number	number	NOUN
gujaf-145	76	15	of	of	ADP
gujaf-145	76	16	people	people	NOUN
gujaf-145	76	17	or	or	CCONJ
gujaf-145	76	18	institutions	institution	NOUN
gujaf-145	76	19	;	;	PUNCT
gujaf-145	76	20	ownership	ownership	NOUN
gujaf-145	76	21	mix	mix	NOUN
gujaf-145	76	22	,	,	PUNCT
gujaf-145	76	23	on	on	ADP
gujaf-145	76	24	the	the	DET
gujaf-145	76	25	other	other	ADJ
gujaf-145	76	26	hand	hand	NOUN
gujaf-145	76	27	,	,	PUNCT
gujaf-145	76	28	refers	refer	VERB
gujaf-145	76	29	to	to	ADP
gujaf-145	76	30	the	the	DET
gujaf-145	76	31	presence	presence	NOUN
gujaf-145	76	32	of	of	ADP
gujaf-145	76	33	particular	particular	ADJ
gujaf-145	76	34	institutions	institution	NOUN
gujaf-145	76	35	or	or	CCONJ
gujaf-145	76	36	groups	group	NOUN
gujaf-145	76	37	among	among	ADP
gujaf-145	76	38	shareholders	shareholder	NOUN
gujaf-145	76	39	,	,	PUNCT
gujaf-145	76	40	such	such	ADJ
gujaf-145	76	41	as	as	ADP
gujaf-145	76	42	governments	government	NOUN
gujaf-145	76	43	,	,	PUNCT
gujaf-145	76	44	private	private	ADJ
gujaf-145	76	45	companies	company	NOUN
gujaf-145	76	46	,	,	PUNCT
gujaf-145	76	47	or	or	CCONJ
gujaf-145	76	48	foreign	foreign	ADJ
gujaf-145	76	49	partners	partner	NOUN
gujaf-145	76	50	(	(	PUNCT
gujaf-145	76	51	claessens	claessen	NOUN
gujaf-145	76	52	&	&	CCONJ
gujaf-145	76	53	djankov	djankov	PROPN
gujaf-145	76	54	,	,	PUNCT
gujaf-145	76	55	1998	1998	NUM
gujaf-145	76	56	)	)	PUNCT
gujaf-145	76	57	.	.	PUNCT
gujaf-145	77	1	the	the	DET
gujaf-145	77	2	ownership	ownership	NOUN
gujaf-145	77	3	structure	structure	NOUN
gujaf-145	77	4	's	's	PART
gujaf-145	77	5	function	function	NOUN
gujaf-145	77	6	in	in	ADP
gujaf-145	77	7	the	the	DET
gujaf-145	77	8	context	context	NOUN
gujaf-145	77	9	of	of	ADP
gujaf-145	77	10	concentrated	concentrated	ADJ
gujaf-145	77	11	ownership	ownership	NOUN
gujaf-145	77	12	is	be	AUX
gujaf-145	77	13	to	to	PART
gujaf-145	77	14	assess	assess	VERB
gujaf-145	77	15	the	the	DET
gujaf-145	77	16	cash	cash	NOUN
gujaf-145	77	17	flow	flow	NOUN
gujaf-145	77	18	contents	content	NOUN
gujaf-145	77	19	in	in	ADP
gujaf-145	77	20	relation	relation	NOUN
gujaf-145	77	21	to	to	ADP
gujaf-145	77	22	the	the	DET
gujaf-145	77	23	block	block	NOUN
gujaf-145	77	24	holder	holder	NOUN
gujaf-145	77	25	's	's	PART
gujaf-145	77	26	function	function	NOUN
gujaf-145	77	27	.	.	PUNCT
gujaf-145	78	1	institutional	institutional	ADJ
gujaf-145	78	2	ownership	ownership	NOUN
gujaf-145	78	3	institutional	institutional	ADJ
gujaf-145	78	4	ownership	ownership	NOUN
gujaf-145	78	5	refers	refer	VERB
gujaf-145	78	6	to	to	ADP
gujaf-145	78	7	the	the	DET
gujaf-145	78	8	ownership	ownership	NOUN
gujaf-145	78	9	of	of	ADP
gujaf-145	78	10	shares	share	NOUN
gujaf-145	78	11	by	by	ADP
gujaf-145	78	12	other	other	ADJ
gujaf-145	78	13	businesses	business	NOUN
gujaf-145	78	14	or	or	CCONJ
gujaf-145	78	15	institutions	institution	NOUN
gujaf-145	78	16	like	like	ADP
gujaf-145	78	17	banks	bank	NOUN
gujaf-145	78	18	,	,	PUNCT
gujaf-145	78	19	insurance	insurance	NOUN
gujaf-145	78	20	companies	company	NOUN
gujaf-145	78	21	,	,	PUNCT
gujaf-145	78	22	investment	investment	NOUN
gujaf-145	78	23	firms	firm	NOUN
gujaf-145	78	24	,	,	PUNCT
gujaf-145	78	25	and	and	CCONJ
gujaf-145	78	26	other	other	ADJ
gujaf-145	78	27	formally	formally	ADV
gujaf-145	78	28	organized	organize	VERB
gujaf-145	78	29	owners	owner	NOUN
gujaf-145	78	30	.	.	PUNCT
gujaf-145	79	1	in	in	ADP
gujaf-145	79	2	monitoring	monitor	VERB
gujaf-145	79	3	management	management	NOUN
gujaf-145	79	4	,	,	PUNCT
gujaf-145	79	5	institutional	institutional	ADJ
gujaf-145	79	6	ownership	ownership	NOUN
gujaf-145	79	7	is	be	AUX
gujaf-145	79	8	crucial	crucial	ADJ
gujaf-145	79	9	because	because	SCONJ
gujaf-145	79	10	it	it	PRON
gujaf-145	79	11	promotes	promote	VERB
gujaf-145	79	12	more	more	ADV
gujaf-145	79	13	effective	effective	ADJ
gujaf-145	79	14	supervision	supervision	NOUN
gujaf-145	79	15	.	.	PUNCT
gujaf-145	80	1	as	as	ADP
gujaf-145	80	2	a	a	DET
gujaf-145	80	3	mechanism	mechanism	NOUN
gujaf-145	80	4	to	to	PART
gujaf-145	80	5	safeguard	safeguard	VERB
gujaf-145	80	6	the	the	DET
gujaf-145	80	7	interests	interest	NOUN
gujaf-145	80	8	of	of	ADP
gujaf-145	80	9	institutional	institutional	ADJ
gujaf-145	80	10	investors	investor	NOUN
gujaf-145	80	11	,	,	PUNCT
gujaf-145	80	12	institutional	institutional	ADJ
gujaf-145	80	13	investors	investor	NOUN
gujaf-145	80	14	'	'	PART
gujaf-145	80	15	participation	participation	NOUN
gujaf-145	80	16	has	have	AUX
gujaf-145	80	17	so	so	ADV
gujaf-145	80	18	far	far	ADV
gujaf-145	80	19	become	become	VERB
gujaf-145	80	20	a	a	DET
gujaf-145	80	21	significant	significant	ADJ
gujaf-145	80	22	force	force	NOUN
gujaf-145	80	23	in	in	ADP
gujaf-145	80	24	corporate	corporate	ADJ
gujaf-145	80	25	monitoring	monitoring	NOUN
gujaf-145	80	26	.	.	PUNCT
gujaf-145	81	1	(	(	PUNCT
gujaf-145	81	2	bange	bange	PROPN
gujaf-145	81	3	&	&	CCONJ
gujaf-145	81	4	de	de	PROPN
gujaf-145	81	5	bondt	bondt	PROPN
gujaf-145	81	6	,	,	PUNCT
gujaf-145	81	7	1998	1998	NUM
gujaf-145	81	8	;	;	PUNCT
gujaf-145	81	9	bushee	bushee	NOUN
gujaf-145	81	10	,	,	PUNCT
gujaf-145	81	11	1998	1998	NUM
gujaf-145	81	12	;	;	PUNCT
gujaf-145	81	13	chung	chung	PROPN
gujaf-145	81	14	et	et	PROPN
gujaf-145	81	15	al	al	PROPN
gujaf-145	81	16	.	.	PROPN
gujaf-145	81	17	,	,	PUNCT
gujaf-145	81	18	2002	2002	NUM
gujaf-145	81	19	;	;	PUNCT
gujaf-145	81	20	cornett	cornett	PROPN
gujaf-145	81	21	et	et	PROPN
gujaf-145	81	22	al	al	PROPN
gujaf-145	81	23	.	.	PROPN
gujaf-145	81	24	,	,	PUNCT
gujaf-145	81	25	2008	2008	NUM
gujaf-145	81	26	;	;	PUNCT
gujaf-145	81	27	ebrahim	ebrahim	PROPN
gujaf-145	81	28	,	,	PUNCT
gujaf-145	81	29	2007	2007	NUM
gujaf-145	81	30	;	;	PUNCT
gujaf-145	81	31	koh	koh	PROPN
gujaf-145	81	32	,	,	PUNCT
gujaf-145	81	33	2003	2003	NUM
gujaf-145	81	34	)	)	PUNCT
gujaf-145	81	35	.	.	PUNCT
gujaf-145	82	1	given	give	VERB
gujaf-145	82	2	the	the	DET
gujaf-145	82	3	importance	importance	NOUN
gujaf-145	82	4	of	of	ADP
gujaf-145	82	5	corporate	corporate	ADJ
gujaf-145	82	6	governance	governance	NOUN
gujaf-145	82	7	in	in	ADP
gujaf-145	82	8	the	the	DET
gujaf-145	82	9	management	management	NOUN
gujaf-145	82	10	of	of	ADP
gujaf-145	82	11	an	an	DET
gujaf-145	82	12	organization	organization	NOUN
gujaf-145	82	13	,	,	PUNCT
gujaf-145	82	14	shareholders	shareholder	NOUN
gujaf-145	82	15	'	'	PART
gujaf-145	82	16	active	active	ADJ
gujaf-145	82	17	involvement	involvement	NOUN
gujaf-145	82	18	in	in	ADP
gujaf-145	82	19	overseeing	oversee	VERB
gujaf-145	82	20	management	management	NOUN
gujaf-145	82	21	activities	activity	NOUN
gujaf-145	82	22	is	be	AUX
gujaf-145	82	23	essential	essential	ADJ
gujaf-145	82	24	to	to	ADP
gujaf-145	82	25	ensuring	ensure	VERB
gujaf-145	82	26	good	good	ADJ
gujaf-145	82	27	corporate	corporate	ADJ
gujaf-145	82	28	governance	governance	NOUN
gujaf-145	82	29	practices	practice	NOUN
gujaf-145	82	30	.	.	PUNCT
gujaf-145	83	1	as	as	ADP
gujaf-145	83	2	a	a	DET
gujaf-145	83	3	mechanism	mechanism	NOUN
gujaf-145	83	4	to	to	PART
gujaf-145	83	5	safeguard	safeguard	VERB
gujaf-145	83	6	the	the	DET
gujaf-145	83	7	interests	interest	NOUN
gujaf-145	83	8	of	of	ADP
gujaf-145	83	9	institutional	institutional	ADJ
gujaf-145	83	10	investors	investor	NOUN
gujaf-145	83	11	,	,	PUNCT
gujaf-145	83	12	institutional	institutional	ADJ
gujaf-145	83	13	investors	investor	NOUN
gujaf-145	83	14	'	'	PART
gujaf-145	83	15	participation	participation	NOUN
gujaf-145	83	16	has	have	AUX
gujaf-145	83	17	so	so	ADV
gujaf-145	83	18	far	far	ADV
gujaf-145	83	19	become	become	VERB
gujaf-145	83	20	a	a	DET
gujaf-145	83	21	significant	significant	ADJ
gujaf-145	83	22	force	force	NOUN
gujaf-145	83	23	in	in	ADP
gujaf-145	83	24	corporate	corporate	ADJ
gujaf-145	83	25	monitoring	monitoring	NOUN
gujaf-145	83	26	.	.	PUNCT
gujaf-145	84	1	a	a	DET
gujaf-145	84	2	sizable	sizable	ADJ
gujaf-145	84	3	and	and	CCONJ
gujaf-145	84	4	influential	influential	ADJ
gujaf-145	84	5	constituency	constituency	NOUN
gujaf-145	84	6	with	with	ADP
gujaf-145	84	7	the	the	DET
gujaf-145	84	8	potential	potential	NOUN
gujaf-145	84	9	to	to	PART
gujaf-145	84	10	play	play	VERB
gujaf-145	84	11	a	a	DET
gujaf-145	84	12	significant	significant	ADJ
gujaf-145	84	13	role	role	NOUN
gujaf-145	84	14	in	in	ADP
gujaf-145	84	15	corporate	corporate	ADJ
gujaf-145	84	16	governance	governance	NOUN
gujaf-145	84	17	has	have	AUX
gujaf-145	84	18	been	be	AUX
gujaf-145	84	19	formed	form	VERB
gujaf-145	84	20	as	as	ADP
gujaf-145	84	21	a	a	DET
gujaf-145	84	22	result	result	NOUN
gujaf-145	84	23	of	of	ADP
gujaf-145	84	24	the	the	DET
gujaf-145	84	25	significant	significant	ADJ
gujaf-145	84	26	increase	increase	NOUN
gujaf-145	84	27	in	in	ADP
gujaf-145	84	28	institutional	institutional	ADJ
gujaf-145	84	29	investor	investor	NOUN
gujaf-145	84	30	shareholdings	shareholding	NOUN
gujaf-145	84	31	.	.	PUNCT
gujaf-145	85	1	accounting	accounting	NOUN
gujaf-145	85	2	data	datum	NOUN
gujaf-145	85	3	,	,	PUNCT
gujaf-145	85	4	which	which	PRON
gujaf-145	85	5	includes	include	VERB
gujaf-145	85	6	earnings	earning	NOUN
gujaf-145	85	7	data	datum	NOUN
gujaf-145	85	8	,	,	PUNCT
gujaf-145	85	9	gives	give	VERB
gujaf-145	85	10	investors	investor	NOUN
gujaf-145	85	11	pertinent	pertinent	ADJ
gujaf-145	85	12	information	information	NOUN
gujaf-145	85	13	to	to	PART
gujaf-145	85	14	help	help	VERB
gujaf-145	85	15	them	they	PRON
gujaf-145	85	16	with	with	ADP
gujaf-145	85	17	asset	asset	NOUN
gujaf-145	85	18	pricing	pricing	NOUN
gujaf-145	85	19	and	and	CCONJ
gujaf-145	85	20	investment	investment	NOUN
gujaf-145	85	21	decisions	decision	NOUN
gujaf-145	85	22	(	(	PUNCT
gujaf-145	85	23	yuan	yuan	NOUN
gujaf-145	85	24	&	&	CCONJ
gujaf-145	85	25	jaing	jaing	PROPN
gujaf-145	85	26	,	,	PUNCT
gujaf-145	85	27	2008	2008	NUM
gujaf-145	85	28	)	)	PUNCT
gujaf-145	85	29	.	.	PUNCT
gujaf-145	86	1	institutional	institutional	ADJ
gujaf-145	86	2	investors	investor	NOUN
gujaf-145	86	3	are	be	AUX
gujaf-145	86	4	long	long	ADJ
gujaf-145	86	5	-	-	PUNCT
gujaf-145	86	6	term	term	NOUN
gujaf-145	86	7	investors	investor	NOUN
gujaf-145	86	8	with	with	ADP
gujaf-145	86	9	strong	strong	ADJ
gujaf-145	86	10	incentives	incentive	NOUN
gujaf-145	86	11	and	and	CCONJ
gujaf-145	86	12	motivations	motivation	NOUN
gujaf-145	86	13	to	to	PART
gujaf-145	86	14	closely	closely	ADV
gujaf-145	86	15	monitor	monitor	VERB
gujaf-145	86	16	management	management	NOUN
gujaf-145	86	17	action	action	NOUN
gujaf-145	86	18	,	,	PUNCT
gujaf-145	86	19	according	accord	VERB
gujaf-145	86	20	to	to	ADP
gujaf-145	86	21	the	the	DET
gujaf-145	86	22	active	active	ADJ
gujaf-145	86	23	monitoring	monitoring	NOUN
gujaf-145	86	24	hypothesis	hypothesis	NOUN
gujaf-145	86	25	(	(	PUNCT
gujaf-145	86	26	jung	jung	PROPN
gujaf-145	86	27	&	&	CCONJ
gujaf-145	86	28	kown	kown	PROPN
gujaf-145	86	29	,	,	PUNCT
gujaf-145	86	30	2002	2002	NUM
gujaf-145	86	31	)	)	PUNCT
gujaf-145	86	32	.	.	PUNCT
gujaf-145	87	1	the	the	DET
gujaf-145	87	2	same	same	ADJ
gujaf-145	87	3	arguments	argument	NOUN
gujaf-145	87	4	imply	imply	VERB
gujaf-145	87	5	that	that	SCONJ
gujaf-145	87	6	institutional	institutional	ADJ
gujaf-145	87	7	investors	investor	NOUN
gujaf-145	87	8	may	may	AUX
gujaf-145	87	9	not	not	PART
gujaf-145	87	10	restrict	restrict	VERB
gujaf-145	87	11	managers	manager	NOUN
gujaf-145	87	12	'	'	PART
gujaf-145	87	13	discretion	discretion	NOUN
gujaf-145	87	14	over	over	ADP
gujaf-145	87	15	how	how	SCONJ
gujaf-145	87	16	to	to	PART
gujaf-145	87	17	manage	manage	VERB
gujaf-145	87	18	earnings	earning	NOUN
gujaf-145	87	19	,	,	PUNCT
gujaf-145	87	20	but	but	CCONJ
gujaf-145	87	21	rather	rather	ADV
gujaf-145	87	22	may	may	AUX
gujaf-145	87	23	increase	increase	VERB
gujaf-145	87	24	managerial	managerial	ADJ
gujaf-145	87	25	incentives	incentive	NOUN
gujaf-145	87	26	to	to	PART
gujaf-145	87	27	do	do	VERB
gujaf-145	87	28	so	so	ADV
gujaf-145	87	29	and	and	CCONJ
gujaf-145	87	30	project	project	NOUN
gujaf-145	87	31	confidence	confidence	NOUN
gujaf-145	87	32	.	.	PUNCT
gujaf-145	88	1	stock	stock	NOUN
gujaf-145	88	2	returns	return	VERB
gujaf-145	88	3	the	the	DET
gujaf-145	88	4	term	term	NOUN
gujaf-145	88	5	"	"	PUNCT
gujaf-145	88	6	return	return	NOUN
gujaf-145	88	7	"	"	PUNCT
gujaf-145	88	8	refers	refer	VERB
gujaf-145	88	9	to	to	ADP
gujaf-145	88	10	the	the	DET
gujaf-145	88	11	financial	financial	ADJ
gujaf-145	88	12	benefits	benefit	NOUN
gujaf-145	88	13	that	that	PRON
gujaf-145	88	14	come	come	VERB
gujaf-145	88	15	from	from	ADP
gujaf-145	88	16	an	an	DET
gujaf-145	88	17	investment	investment	NOUN
gujaf-145	88	18	.	.	PUNCT
gujaf-145	89	1	for	for	ADP
gujaf-145	89	2	instance	instance	NOUN
gujaf-145	89	3	,	,	PUNCT
gujaf-145	89	4	a	a	DET
gujaf-145	89	5	business	business	NOUN
gujaf-145	89	6	that	that	PRON
gujaf-145	89	7	makes	make	VERB
gujaf-145	89	8	investments	investment	NOUN
gujaf-145	89	9	in	in	ADP
gujaf-145	89	10	fixed	fix	VERB
gujaf-145	89	11	assets	asset	NOUN
gujaf-145	89	12	and	and	CCONJ
gujaf-145	89	13	operations	operation	NOUN
gujaf-145	89	14	expects	expect	VERB
gujaf-145	89	15	to	to	PART
gujaf-145	89	16	see	see	VERB
gujaf-145	89	17	increased	increase	VERB
gujaf-145	89	18	cash	cash	NOUN
gujaf-145	89	19	flows	flow	NOUN
gujaf-145	89	20	as	as	ADV
gujaf-145	89	21	well	well	ADV
gujaf-145	89	22	as	as	ADP
gujaf-145	89	23	profits	profit	NOUN
gujaf-145	89	24	.	.	PUNCT
gujaf-145	90	1	an	an	DET
gujaf-145	90	2	investor	investor	NOUN
gujaf-145	90	3	's	's	PART
gujaf-145	90	4	ownership	ownership	NOUN
gujaf-145	90	5	of	of	ADP
gujaf-145	90	6	shares	share	NOUN
gujaf-145	90	7	is	be	AUX
gujaf-145	90	8	represented	represent	VERB
gujaf-145	90	9	by	by	ADP
gujaf-145	90	10	a	a	DET
gujaf-145	90	11	stock	stock	NOUN
gujaf-145	90	12	certificate	certificate	NOUN
gujaf-145	90	13	.	.	PUNCT
gujaf-145	91	1	when	when	SCONJ
gujaf-145	91	2	buying	buy	VERB
gujaf-145	91	3	common	common	ADJ
gujaf-145	91	4	stock	stock	NOUN
gujaf-145	91	5	,	,	PUNCT
gujaf-145	91	6	an	an	DET
gujaf-145	91	7	investor	investor	NOUN
gujaf-145	91	8	expects	expect	VERB
gujaf-145	91	9	dividends	dividend	NOUN
gujaf-145	91	10	and	and	CCONJ
gujaf-145	91	11	capital	capital	NOUN
gujaf-145	91	12	gains	gain	NOUN
gujaf-145	91	13	(	(	PUNCT
gujaf-145	91	14	share	share	NOUN
gujaf-145	91	15	price	price	NOUN
gujaf-145	91	16	increases	increase	NOUN
gujaf-145	91	17	)	)	PUNCT
gujaf-145	91	18	.	.	PUNCT
gujaf-145	92	1	the	the	DET
gujaf-145	92	2	profits	profit	NOUN
gujaf-145	92	3	made	make	VERB
gujaf-145	92	4	by	by	ADP
gujaf-145	92	5	investors	investor	NOUN
gujaf-145	92	6	on	on	ADP
gujaf-145	92	7	the	the	DET
gujaf-145	92	8	stock	stock	NOUN
gujaf-145	92	9	market	market	NOUN
gujaf-145	92	10	are	be	AUX
gujaf-145	92	11	known	know	VERB
gujaf-145	92	12	as	as	ADP
gujaf-145	92	13	stock	stock	NOUN
gujaf-145	92	14	market	market	NOUN
gujaf-145	92	15	returns	return	NOUN
gujaf-145	92	16	.	.	PUNCT
gujaf-145	93	1	this	this	DET
gujaf-145	93	2	return	return	NOUN
gujaf-145	93	3	may	may	AUX
gujaf-145	93	4	come	come	VERB
gujaf-145	93	5	in	in	ADP
gujaf-145	93	6	the	the	DET
gujaf-145	93	7	form	form	NOUN
gujaf-145	93	8	of	of	ADP
gujaf-145	93	9	trading	trading	NOUN
gujaf-145	93	10	gains	gain	NOUN
gujaf-145	93	11	or	or	CCONJ
gujaf-145	93	12	sporadic	sporadic	ADJ
gujaf-145	93	13	dividend	dividend	NOUN
gujaf-145	93	14	payments	payment	NOUN
gujaf-145	93	15	made	make	VERB
gujaf-145	93	16	to	to	ADP
gujaf-145	93	17	shareholders	shareholder	NOUN
gujaf-145	93	18	by	by	ADP
gujaf-145	93	19	6	6	NUM
gujaf-145	93	20	the	the	DET
gujaf-145	93	21	company	company	NOUN
gujaf-145	93	22	.	.	PUNCT
gujaf-145	94	1	companies	company	NOUN
gujaf-145	94	2	'	'	PART
gujaf-145	94	3	dividend	dividend	NOUN
gujaf-145	94	4	declarations	declaration	NOUN
gujaf-145	94	5	can	can	AUX
gujaf-145	94	6	be	be	AUX
gujaf-145	94	7	used	use	VERB
gujaf-145	94	8	to	to	PART
gujaf-145	94	9	increase	increase	VERB
gujaf-145	94	10	stock	stock	NOUN
gujaf-145	94	11	market	market	NOUN
gujaf-145	94	12	returns	return	NOUN
gujaf-145	94	13	.	.	PUNCT
gujaf-145	95	1	a	a	DET
gujaf-145	95	2	profitable	profitable	ADJ
gujaf-145	95	3	business	business	NOUN
gujaf-145	95	4	typically	typically	ADV
gujaf-145	95	5	distributes	distribute	VERB
gujaf-145	95	6	a	a	DET
gujaf-145	95	7	portion	portion	NOUN
gujaf-145	95	8	of	of	ADP
gujaf-145	95	9	its	its	PRON
gujaf-145	95	10	profits	profit	NOUN
gujaf-145	95	11	to	to	ADP
gujaf-145	95	12	its	its	PRON
gujaf-145	95	13	shareholders	shareholder	NOUN
gujaf-145	95	14	at	at	ADP
gujaf-145	95	15	the	the	DET
gujaf-145	95	16	end	end	NOUN
gujaf-145	95	17	of	of	ADP
gujaf-145	95	18	each	each	DET
gujaf-145	95	19	quarter	quarter	NOUN
gujaf-145	95	20	.	.	PUNCT
gujaf-145	96	1	this	this	PRON
gujaf-145	96	2	is	be	AUX
gujaf-145	96	3	one	one	NUM
gujaf-145	96	4	of	of	ADP
gujaf-145	96	5	the	the	DET
gujaf-145	96	6	potential	potential	ADJ
gujaf-145	96	7	sources	source	NOUN
gujaf-145	96	8	of	of	ADP
gujaf-145	96	9	stock	stock	NOUN
gujaf-145	96	10	market	market	NOUN
gujaf-145	96	11	return	return	NOUN
gujaf-145	96	12	for	for	ADP
gujaf-145	96	13	an	an	DET
gujaf-145	96	14	investor	investor	NOUN
gujaf-145	96	15	.	.	PUNCT
gujaf-145	97	1	the	the	DET
gujaf-145	97	2	most	most	ADV
gujaf-145	97	3	typical	typical	ADJ
gujaf-145	97	4	method	method	NOUN
gujaf-145	97	5	of	of	ADP
gujaf-145	97	6	producing	produce	VERB
gujaf-145	97	7	returns	return	NOUN
gujaf-145	97	8	on	on	ADP
gujaf-145	97	9	the	the	DET
gujaf-145	97	10	stock	stock	NOUN
gujaf-145	97	11	market	market	NOUN
gujaf-145	97	12	is	be	AUX
gujaf-145	97	13	trading	trade	VERB
gujaf-145	97	14	in	in	ADP
gujaf-145	97	15	the	the	DET
gujaf-145	97	16	secondary	secondary	ADJ
gujaf-145	97	17	market	market	NOUN
gujaf-145	97	18	.	.	PUNCT
gujaf-145	98	1	by	by	ADP
gujaf-145	98	2	buying	buy	VERB
gujaf-145	98	3	a	a	DET
gujaf-145	98	4	stock	stock	NOUN
gujaf-145	98	5	on	on	ADP
gujaf-145	98	6	the	the	DET
gujaf-145	98	7	secondary	secondary	ADJ
gujaf-145	98	8	market	market	NOUN
gujaf-145	98	9	at	at	ADP
gujaf-145	98	10	a	a	DET
gujaf-145	98	11	discount	discount	NOUN
gujaf-145	98	12	and	and	CCONJ
gujaf-145	98	13	then	then	ADV
gujaf-145	98	14	selling	sell	VERB
gujaf-145	98	15	it	it	PRON
gujaf-145	98	16	at	at	ADP
gujaf-145	98	17	a	a	DET
gujaf-145	98	18	premium	premium	NOUN
gujaf-145	98	19	,	,	PUNCT
gujaf-145	98	20	an	an	DET
gujaf-145	98	21	investor	investor	NOUN
gujaf-145	98	22	can	can	AUX
gujaf-145	98	23	benefit	benefit	VERB
gujaf-145	98	24	from	from	ADP
gujaf-145	98	25	the	the	DET
gujaf-145	98	26	stock	stock	NOUN
gujaf-145	98	27	market	market	NOUN
gujaf-145	98	28	return	return	NOUN
gujaf-145	98	29	.	.	PUNCT
gujaf-145	99	1	investors	investor	NOUN
gujaf-145	99	2	and	and	CCONJ
gujaf-145	99	3	investors	investor	NOUN
gujaf-145	99	4	interact	interact	VERB
gujaf-145	99	5	in	in	ADP
gujaf-145	99	6	a	a	DET
gujaf-145	99	7	setting	setting	NOUN
gujaf-145	99	8	known	know	VERB
gujaf-145	99	9	as	as	ADP
gujaf-145	99	10	the	the	DET
gujaf-145	99	11	capital	capital	NOUN
gujaf-145	99	12	market	market	NOUN
gujaf-145	99	13	.	.	PUNCT
gujaf-145	100	1	corporate	corporate	ADJ
gujaf-145	100	2	firm	firm	ADJ
gujaf-145	100	3	characteristics	characteristic	NOUN
gujaf-145	100	4	determine	determine	VERB
gujaf-145	100	5	the	the	DET
gujaf-145	100	6	share	share	NOUN
gujaf-145	100	7	price	price	NOUN
gujaf-145	100	8	at	at	ADP
gujaf-145	100	9	which	which	PRON
gujaf-145	100	10	it	it	PRON
gujaf-145	100	11	is	be	AUX
gujaf-145	100	12	sold	sell	VERB
gujaf-145	100	13	,	,	PUNCT
gujaf-145	100	14	which	which	PRON
gujaf-145	100	15	usually	usually	ADV
gujaf-145	100	16	influence	influence	VERB
gujaf-145	100	17	the	the	DET
gujaf-145	100	18	amount	amount	NOUN
gujaf-145	100	19	of	of	ADP
gujaf-145	100	20	capital	capital	NOUN
gujaf-145	100	21	a	a	DET
gujaf-145	100	22	company	company	NOUN
gujaf-145	100	23	can	can	AUX
gujaf-145	100	24	raise	raise	VERB
gujaf-145	100	25	from	from	ADP
gujaf-145	100	26	the	the	DET
gujaf-145	100	27	stock	stock	NOUN
gujaf-145	100	28	market	market	NOUN
gujaf-145	100	29	.	.	PUNCT
gujaf-145	101	1	the	the	DET
gujaf-145	101	2	stock	stock	NOUN
gujaf-145	101	3	market	market	NOUN
gujaf-145	101	4	connects	connect	VERB
gujaf-145	101	5	the	the	DET
gujaf-145	101	6	need	need	NOUN
gujaf-145	101	7	for	for	SCONJ
gujaf-145	101	8	firms	firm	NOUN
gujaf-145	101	9	to	to	PART
gujaf-145	101	10	raise	raise	VERB
gujaf-145	101	11	funds	fund	NOUN
gujaf-145	101	12	for	for	ADP
gujaf-145	101	13	business	business	NOUN
gujaf-145	101	14	continuity	continuity	NOUN
gujaf-145	101	15	or	or	CCONJ
gujaf-145	101	16	expansion	expansion	NOUN
gujaf-145	101	17	with	with	ADP
gujaf-145	101	18	the	the	DET
gujaf-145	101	19	desire	desire	NOUN
gujaf-145	101	20	of	of	ADP
gujaf-145	101	21	investors	investor	NOUN
gujaf-145	101	22	to	to	PART
gujaf-145	101	23	invest	invest	VERB
gujaf-145	101	24	their	their	PRON
gujaf-145	101	25	excess	excess	ADJ
gujaf-145	101	26	resources	resource	NOUN
gujaf-145	101	27	.	.	PUNCT
gujaf-145	102	1	as	as	ADP
gujaf-145	102	2	a	a	DET
gujaf-145	102	3	result	result	NOUN
gujaf-145	102	4	,	,	PUNCT
gujaf-145	102	5	it	it	PRON
gujaf-145	102	6	is	be	AUX
gujaf-145	102	7	a	a	DET
gujaf-145	102	8	place	place	NOUN
gujaf-145	102	9	to	to	PART
gujaf-145	102	10	buy	buy	VERB
gujaf-145	102	11	and	and	CCONJ
gujaf-145	102	12	sell	sell	VERB
gujaf-145	102	13	shares	share	NOUN
gujaf-145	102	14	,	,	PUNCT
gujaf-145	102	15	and	and	CCONJ
gujaf-145	102	16	share	share	NOUN
gujaf-145	102	17	prices	price	NOUN
gujaf-145	102	18	are	be	AUX
gujaf-145	102	19	determined	determine	VERB
gujaf-145	102	20	by	by	ADP
gujaf-145	102	21	demand	demand	NOUN
gujaf-145	102	22	and	and	CCONJ
gujaf-145	102	23	supply	supply	NOUN
gujaf-145	102	24	,	,	PUNCT
gujaf-145	102	25	which	which	PRON
gujaf-145	102	26	are	be	AUX
gujaf-145	102	27	typically	typically	ADV
gujaf-145	102	28	influenced	influence	VERB
gujaf-145	102	29	by	by	ADP
gujaf-145	102	30	firm	firm	ADJ
gujaf-145	102	31	-	-	PUNCT
gujaf-145	102	32	specific	specific	ADJ
gujaf-145	102	33	factors	factor	NOUN
gujaf-145	102	34	and/or	and/or	CCONJ
gujaf-145	102	35	macroeconomic	macroeconomic	ADJ
gujaf-145	102	36	variables	variable	NOUN
gujaf-145	102	37	(	(	PUNCT
gujaf-145	102	38	adedoyin	adedoyin	NOUN
gujaf-145	102	39	,	,	PUNCT
gujaf-145	102	40	2011	2011	NUM
gujaf-145	102	41	)	)	PUNCT
gujaf-145	102	42	.	.	PUNCT
gujaf-145	103	1	ownership	ownership	NOUN
gujaf-145	103	2	characteristics	characteristic	NOUN
gujaf-145	103	3	and	and	CCONJ
gujaf-145	103	4	stock	stock	NOUN
gujaf-145	103	5	returns	return	NOUN
gujaf-145	103	6	mbatuegwu	mbatuegwu	ADV
gujaf-145	103	7	and	and	CCONJ
gujaf-145	103	8	ogoh	ogoh	PROPN
gujaf-145	103	9	(	(	PUNCT
gujaf-145	103	10	2021	2021	NUM
gujaf-145	103	11	)	)	PUNCT
gujaf-145	103	12	examine	examine	VERB
gujaf-145	103	13	the	the	DET
gujaf-145	103	14	effect	effect	NOUN
gujaf-145	103	15	of	of	ADP
gujaf-145	103	16	firm	firm	ADJ
gujaf-145	103	17	characteristics	characteristic	NOUN
gujaf-145	103	18	on	on	ADP
gujaf-145	103	19	the	the	DET
gujaf-145	103	20	stock	stock	NOUN
gujaf-145	103	21	returns	return	NOUN
gujaf-145	103	22	of	of	ADP
gujaf-145	103	23	publicly	publicly	ADV
gujaf-145	103	24	traded	trade	VERB
gujaf-145	103	25	consumer	consumer	NOUN
gujaf-145	103	26	goods	good	NOUN
gujaf-145	103	27	companies	company	NOUN
gujaf-145	103	28	in	in	ADP
gujaf-145	103	29	nigeria	nigeria	PROPN
gujaf-145	103	30	.	.	PUNCT
gujaf-145	104	1	they	they	PRON
gujaf-145	104	2	use	use	VERB
gujaf-145	104	3	ex	ex	NOUN
gujaf-145	104	4	-	-	ADJ
gujaf-145	104	5	post	post	ADJ
gujaf-145	104	6	facto	facto	X
gujaf-145	104	7	and	and	CCONJ
gujaf-145	104	8	descriptive	descriptive	ADJ
gujaf-145	104	9	research	research	NOUN
gujaf-145	104	10	techniques	technique	NOUN
gujaf-145	104	11	,	,	PUNCT
gujaf-145	104	12	as	as	ADV
gujaf-145	104	13	well	well	ADV
gujaf-145	104	14	as	as	ADP
gujaf-145	104	15	a	a	DET
gujaf-145	104	16	positivist	positivist	ADJ
gujaf-145	104	17	research	research	NOUN
gujaf-145	104	18	philosophy	philosophy	NOUN
gujaf-145	104	19	,	,	PUNCT
gujaf-145	104	20	to	to	PART
gujaf-145	104	21	address	address	VERB
gujaf-145	104	22	the	the	DET
gujaf-145	104	23	research	research	NOUN
gujaf-145	104	24	problem	problem	NOUN
gujaf-145	104	25	.	.	PUNCT
gujaf-145	105	1	the	the	DET
gujaf-145	105	2	study	study	NOUN
gujaf-145	105	3	's	's	PART
gujaf-145	105	4	findings	finding	NOUN
gujaf-145	105	5	suggest	suggest	VERB
gujaf-145	105	6	that	that	SCONJ
gujaf-145	105	7	a	a	DET
gujaf-145	105	8	firm	firm	NOUN
gujaf-145	105	9	's	's	PART
gujaf-145	105	10	size	size	NOUN
gujaf-145	105	11	contributes	contribute	VERB
gujaf-145	105	12	positively	positively	ADV
gujaf-145	105	13	to	to	ADP
gujaf-145	105	14	stock	stock	NOUN
gujaf-145	105	15	returns	return	NOUN
gujaf-145	105	16	because	because	SCONJ
gujaf-145	105	17	firm	firm	ADJ
gujaf-145	105	18	size	size	NOUN
gujaf-145	105	19	has	have	VERB
gujaf-145	105	20	a	a	DET
gujaf-145	105	21	positive	positive	ADJ
gujaf-145	105	22	but	but	CCONJ
gujaf-145	105	23	marginal	marginal	ADJ
gujaf-145	105	24	statistical	statistical	ADJ
gujaf-145	105	25	impact	impact	NOUN
gujaf-145	105	26	on	on	ADP
gujaf-145	105	27	stock	stock	NOUN
gujaf-145	105	28	returns	return	NOUN
gujaf-145	105	29	in	in	ADP
gujaf-145	105	30	the	the	DET
gujaf-145	105	31	listed	list	VERB
gujaf-145	105	32	consumer	consumer	NOUN
gujaf-145	105	33	goods	good	NOUN
gujaf-145	105	34	sector	sector	NOUN
gujaf-145	105	35	.	.	PUNCT
gujaf-145	106	1	according	accord	VERB
gujaf-145	106	2	to	to	ADP
gujaf-145	106	3	the	the	DET
gujaf-145	106	4	results	result	NOUN
gujaf-145	106	5	,	,	PUNCT
gujaf-145	106	6	this	this	DET
gujaf-145	106	7	factor	factor	NOUN
gujaf-145	106	8	has	have	VERB
gujaf-145	106	9	no	no	DET
gujaf-145	106	10	impact	impact	NOUN
gujaf-145	106	11	on	on	ADP
gujaf-145	106	12	the	the	DET
gujaf-145	106	13	rate	rate	NOUN
gujaf-145	106	14	of	of	ADP
gujaf-145	106	15	stock	stock	NOUN
gujaf-145	106	16	returns	return	NOUN
gujaf-145	106	17	for	for	ADP
gujaf-145	106	18	consumer	consumer	NOUN
gujaf-145	106	19	goods	good	NOUN
gujaf-145	106	20	companies	company	NOUN
gujaf-145	106	21	in	in	ADP
gujaf-145	106	22	nigeria	nigeria	PROPN
gujaf-145	106	23	.	.	PUNCT
gujaf-145	107	1	the	the	DET
gujaf-145	107	2	results	result	NOUN
gujaf-145	107	3	show	show	VERB
gujaf-145	107	4	that	that	SCONJ
gujaf-145	107	5	the	the	DET
gujaf-145	107	6	level	level	NOUN
gujaf-145	107	7	of	of	ADP
gujaf-145	107	8	stock	stock	NOUN
gujaf-145	107	9	returns	return	NOUN
gujaf-145	107	10	is	be	AUX
gujaf-145	107	11	not	not	PART
gujaf-145	107	12	always	always	ADV
gujaf-145	107	13	influenced	influence	VERB
gujaf-145	107	14	by	by	ADP
gujaf-145	107	15	a	a	DET
gujaf-145	107	16	company	company	NOUN
gujaf-145	107	17	's	's	PART
gujaf-145	107	18	size	size	NOUN
gujaf-145	107	19	.	.	PUNCT
gujaf-145	108	1	while	while	SCONJ
gujaf-145	108	2	the	the	DET
gujaf-145	108	3	current	current	ADJ
gujaf-145	108	4	work	work	NOUN
gujaf-145	108	5	is	be	AUX
gujaf-145	108	6	on	on	ADP
gujaf-145	108	7	firm	firm	ADJ
gujaf-145	108	8	attributes	attribute	NOUN
gujaf-145	108	9	,	,	PUNCT
gujaf-145	108	10	this	this	DET
gujaf-145	108	11	work	work	NOUN
gujaf-145	108	12	was	be	AUX
gujaf-145	108	13	done	do	VERB
gujaf-145	108	14	on	on	ADP
gujaf-145	108	15	firm	firm	ADJ
gujaf-145	108	16	attributes	attribute	NOUN
gujaf-145	108	17	.	.	PUNCT
gujaf-145	109	1	afriyani	afriyani	PROPN
gujaf-145	109	2	(	(	PUNCT
gujaf-145	109	3	2018	2018	NUM
gujaf-145	109	4	)	)	PUNCT
gujaf-145	109	5	looked	look	VERB
gujaf-145	109	6	into	into	ADP
gujaf-145	109	7	how	how	SCONJ
gujaf-145	109	8	managerial	managerial	ADJ
gujaf-145	109	9	ownership	ownership	NOUN
gujaf-145	109	10	structure	structure	NOUN
gujaf-145	109	11	,	,	PUNCT
gujaf-145	109	12	institutional	institutional	ADJ
gujaf-145	109	13	ownership	ownership	NOUN
gujaf-145	109	14	,	,	PUNCT
gujaf-145	109	15	and	and	CCONJ
gujaf-145	109	16	investment	investment	NOUN
gujaf-145	109	17	opportunities	opportunity	NOUN
gujaf-145	109	18	affected	affect	VERB
gujaf-145	109	19	the	the	DET
gujaf-145	109	20	performance	performance	NOUN
gujaf-145	109	21	of	of	ADP
gujaf-145	109	22	stocks	stock	NOUN
gujaf-145	109	23	in	in	ADP
gujaf-145	109	24	manufacturing	manufacture	VERB
gujaf-145	109	25	companies	company	NOUN
gujaf-145	109	26	listed	list	VERB
gujaf-145	109	27	on	on	ADP
gujaf-145	109	28	the	the	DET
gujaf-145	109	29	indonesia	indonesia	PROPN
gujaf-145	109	30	stock	stock	PROPN
gujaf-145	109	31	exchange	exchange	PROPN
gujaf-145	109	32	.	.	PUNCT
gujaf-145	110	1	application	application	NOUN
gujaf-145	110	2	of	of	ADP
gujaf-145	110	3	managerial	managerial	ADJ
gujaf-145	110	4	ownership	ownership	NOUN
gujaf-145	110	5	analysis	analysis	NOUN
gujaf-145	110	6	,	,	PUNCT
gujaf-145	110	7	institutional	institutional	ADJ
gujaf-145	110	8	ownership	ownership	NOUN
gujaf-145	110	9	analysis	analysis	NOUN
gujaf-145	110	10	,	,	PUNCT
gujaf-145	110	11	analysis	analysis	NOUN
gujaf-145	110	12	of	of	ADP
gujaf-145	110	13	investment	investment	NOUN
gujaf-145	110	14	opportunities	opportunity	NOUN
gujaf-145	110	15	and	and	CCONJ
gujaf-145	110	16	stock	stock	NOUN
gujaf-145	110	17	performance	performance	NOUN
gujaf-145	110	18	,	,	PUNCT
gujaf-145	110	19	multiple	multiple	ADJ
gujaf-145	110	20	linear	linear	ADJ
gujaf-145	110	21	regression	regression	NOUN
gujaf-145	110	22	analysis	analysis	NOUN
gujaf-145	110	23	,	,	PUNCT
gujaf-145	110	24	the	the	DET
gujaf-145	110	25	traditional	traditional	ADJ
gujaf-145	110	26	assumption	assumption	NOUN
gujaf-145	110	27	test	test	NOUN
gujaf-145	110	28	(	(	PUNCT
gujaf-145	110	29	normality	normality	NOUN
gujaf-145	110	30	test	test	NOUN
gujaf-145	110	31	,	,	PUNCT
gujaf-145	110	32	multicolinearity	multicolinearity	NOUN
gujaf-145	110	33	test	test	NOUN
gujaf-145	110	34	,	,	PUNCT
gujaf-145	110	35	autocorrelation	autocorrelation	NOUN
gujaf-145	110	36	test	test	NOUN
gujaf-145	110	37	,	,	PUNCT
gujaf-145	110	38	and	and	CCONJ
gujaf-145	110	39	test	test	NOUN
gujaf-145	110	40	heterokesdastisitas	heterokesdastisita	NOUN
gujaf-145	110	41	)	)	PUNCT
gujaf-145	110	42	,	,	PUNCT
gujaf-145	110	43	and	and	CCONJ
gujaf-145	110	44	hypothesis	hypothesis	NOUN
gujaf-145	110	45	testing	testing	NOUN
gujaf-145	110	46	are	be	AUX
gujaf-145	110	47	used	use	VERB
gujaf-145	110	48	for	for	ADP
gujaf-145	110	49	this	this	DET
gujaf-145	110	50	purpose	purpose	NOUN
gujaf-145	110	51	.	.	PUNCT
gujaf-145	111	1	the	the	DET
gujaf-145	111	2	results	result	NOUN
gujaf-145	111	3	showed	show	VERB
gujaf-145	111	4	that	that	SCONJ
gujaf-145	111	5	institutional	institutional	ADJ
gujaf-145	111	6	ownership	ownership	NOUN
gujaf-145	111	7	has	have	VERB
gujaf-145	111	8	a	a	DET
gujaf-145	111	9	positive	positive	ADJ
gujaf-145	111	10	but	but	CCONJ
gujaf-145	111	11	not	not	PART
gujaf-145	111	12	statistically	statistically	ADV
gujaf-145	111	13	significant	significant	ADJ
gujaf-145	111	14	impact	impact	NOUN
gujaf-145	111	15	on	on	ADP
gujaf-145	111	16	stock	stock	NOUN
gujaf-145	111	17	performance	performance	NOUN
gujaf-145	111	18	,	,	PUNCT
gujaf-145	111	19	whereas	whereas	SCONJ
gujaf-145	111	20	stock	stock	NOUN
gujaf-145	111	21	ownership	ownership	NOUN
gujaf-145	111	22	structure	structure	NOUN
gujaf-145	111	23	has	have	VERB
gujaf-145	111	24	a	a	DET
gujaf-145	111	25	significant	significant	ADJ
gujaf-145	111	26	positive	positive	ADJ
gujaf-145	111	27	impact	impact	NOUN
gujaf-145	111	28	on	on	ADP
gujaf-145	111	29	stock	stock	NOUN
gujaf-145	111	30	performance	performance	NOUN
gujaf-145	111	31	.	.	PUNCT
gujaf-145	112	1	while	while	SCONJ
gujaf-145	112	2	the	the	DET
gujaf-145	112	3	discovery	discovery	NOUN
gujaf-145	112	4	significantly	significantly	ADV
gujaf-145	112	5	improves	improve	VERB
gujaf-145	112	6	the	the	DET
gujaf-145	112	7	performance	performance	NOUN
gujaf-145	112	8	of	of	ADP
gujaf-145	112	9	the	the	DET
gujaf-145	112	10	stock	stock	NOUN
gujaf-145	112	11	on	on	ADP
gujaf-145	112	12	the	the	DET
gujaf-145	112	13	indonesian	indonesian	ADJ
gujaf-145	112	14	stock	stock	PROPN
gujaf-145	112	15	exchange	exchange	PROPN
gujaf-145	112	16	.	.	PUNCT
gujaf-145	113	1	the	the	DET
gujaf-145	113	2	test	test	NOUN
gujaf-145	113	3	results	result	NOUN
gujaf-145	113	4	obtained	obtain	VERB
gujaf-145	113	5	by	by	ADP
gujaf-145	113	6	discovering	discover	VERB
gujaf-145	113	7	that	that	SCONJ
gujaf-145	113	8	managerial	managerial	ADJ
gujaf-145	113	9	7	7	NUM
gujaf-145	113	10	ownership	ownership	NOUN
gujaf-145	113	11	,	,	PUNCT
gujaf-145	113	12	institutional	institutional	ADJ
gujaf-145	113	13	and	and	CCONJ
gujaf-145	113	14	investment	investment	NOUN
gujaf-145	113	15	opportunities	opportunity	NOUN
gujaf-145	113	16	all	all	PRON
gujaf-145	113	17	affect	affect	VERB
gujaf-145	113	18	the	the	DET
gujaf-145	113	19	performance	performance	NOUN
gujaf-145	113	20	of	of	ADP
gujaf-145	113	21	the	the	DET
gujaf-145	113	22	company	company	NOUN
gujaf-145	113	23	's	's	PART
gujaf-145	113	24	shares	share	NOUN
gujaf-145	113	25	are	be	AUX
gujaf-145	113	26	listed	list	VERB
gujaf-145	113	27	on	on	ADP
gujaf-145	113	28	the	the	DET
gujaf-145	113	29	manufacturing	manufacturing	NOUN
gujaf-145	113	30	indonesia	indonesia	PROPN
gujaf-145	113	31	stock	stock	PROPN
gujaf-145	113	32	exchange	exchange	PROPN
gujaf-145	113	33	.	.	PUNCT
gujaf-145	114	1	because	because	SCONJ
gujaf-145	114	2	of	of	ADP
gujaf-145	114	3	the	the	DET
gujaf-145	114	4	differences	difference	NOUN
gujaf-145	114	5	in	in	ADP
gujaf-145	114	6	legal	legal	ADJ
gujaf-145	114	7	and	and	CCONJ
gujaf-145	114	8	governance	governance	NOUN
gujaf-145	114	9	requirements	requirement	NOUN
gujaf-145	114	10	between	between	ADP
gujaf-145	114	11	these	these	DET
gujaf-145	114	12	countries	country	NOUN
gujaf-145	114	13	,	,	PUNCT
gujaf-145	114	14	the	the	DET
gujaf-145	114	15	findings	finding	NOUN
gujaf-145	114	16	of	of	ADP
gujaf-145	114	17	the	the	DET
gujaf-145	114	18	studies	study	NOUN
gujaf-145	114	19	can	can	AUX
gujaf-145	114	20	not	not	PART
gujaf-145	114	21	be	be	AUX
gujaf-145	114	22	used	use	VERB
gujaf-145	114	23	to	to	PART
gujaf-145	114	24	make	make	VERB
gujaf-145	114	25	decisions	decision	NOUN
gujaf-145	114	26	in	in	ADP
gujaf-145	114	27	nigeria	nigeria	PROPN
gujaf-145	114	28	.	.	PUNCT
gujaf-145	115	1	amal	amal	PROPN
gujaf-145	115	2	and	and	CCONJ
gujaf-145	115	3	ahmed	ahmed	PROPN
gujaf-145	115	4	(	(	PUNCT
gujaf-145	115	5	2017	2017	NUM
gujaf-145	115	6	)	)	PUNCT
gujaf-145	115	7	looked	look	VERB
gujaf-145	115	8	into	into	ADP
gujaf-145	115	9	how	how	SCONJ
gujaf-145	115	10	institutional	institutional	ADJ
gujaf-145	115	11	ownership	ownership	NOUN
gujaf-145	115	12	and	and	CCONJ
gujaf-145	115	13	ownership	ownership	NOUN
gujaf-145	115	14	concentration	concentration	NOUN
gujaf-145	115	15	affected	affect	VERB
gujaf-145	115	16	the	the	DET
gujaf-145	115	17	performance	performance	NOUN
gujaf-145	115	18	of	of	ADP
gujaf-145	115	19	firm	firm	ADJ
gujaf-145	115	20	stock	stock	NOUN
gujaf-145	115	21	returns	return	NOUN
gujaf-145	115	22	using	use	VERB
gujaf-145	115	23	a	a	DET
gujaf-145	115	24	panel	panel	NOUN
gujaf-145	115	25	data	datum	NOUN
gujaf-145	115	26	model	model	NOUN
gujaf-145	115	27	.	.	PUNCT
gujaf-145	116	1	our	our	PRON
gujaf-145	116	2	main	main	ADJ
gujaf-145	116	3	measures	measure	NOUN
gujaf-145	116	4	of	of	ADP
gujaf-145	116	5	ownership	ownership	NOUN
gujaf-145	116	6	are	be	AUX
gujaf-145	116	7	the	the	DET
gujaf-145	116	8	institutional	institutional	ADJ
gujaf-145	116	9	ownership	ownership	NOUN
gujaf-145	116	10	split	split	VERB
gujaf-145	116	11	by	by	ADP
gujaf-145	116	12	type	type	NOUN
gujaf-145	116	13	of	of	ADP
gujaf-145	116	14	institution	institution	NOUN
gujaf-145	116	15	and	and	CCONJ
gujaf-145	116	16	the	the	DET
gujaf-145	116	17	proportion	proportion	NOUN
gujaf-145	116	18	of	of	ADP
gujaf-145	116	19	a	a	DET
gujaf-145	116	20	company	company	NOUN
gujaf-145	116	21	's	's	PART
gujaf-145	116	22	outstanding	outstanding	ADJ
gujaf-145	116	23	stock	stock	NOUN
gujaf-145	116	24	held	hold	VERB
gujaf-145	116	25	by	by	ADP
gujaf-145	116	26	the	the	DET
gujaf-145	116	27	top	top	ADJ
gujaf-145	116	28	three	three	NUM
gujaf-145	116	29	block	block	NOUN
gujaf-145	116	30	holders	holder	NOUN
gujaf-145	116	31	.	.	PUNCT
gujaf-145	117	1	ex	ex	PRON
gujaf-145	117	2	post	post	NOUN
gujaf-145	117	3	and	and	CCONJ
gujaf-145	117	4	ex	ex	PRON
gujaf-145	117	5	ante	ante	NOUN
gujaf-145	117	6	returns	return	NOUN
gujaf-145	117	7	show	show	VERB
gujaf-145	117	8	no	no	DET
gujaf-145	117	9	discernible	discernible	ADJ
gujaf-145	117	10	correlation	correlation	NOUN
gujaf-145	117	11	with	with	ADP
gujaf-145	117	12	institutional	institutional	ADJ
gujaf-145	117	13	ownership	ownership	NOUN
gujaf-145	117	14	or	or	CCONJ
gujaf-145	117	15	concentration	concentration	NOUN
gujaf-145	117	16	.	.	PUNCT
gujaf-145	118	1	it	it	PRON
gujaf-145	118	2	was	be	AUX
gujaf-145	118	3	also	also	ADV
gujaf-145	118	4	found	find	VERB
gujaf-145	118	5	that	that	SCONJ
gujaf-145	118	6	institutional	institutional	ADJ
gujaf-145	118	7	ownership	ownership	NOUN
gujaf-145	118	8	represented	represent	VERB
gujaf-145	118	9	by	by	ADP
gujaf-145	118	10	some	some	DET
gujaf-145	118	11	institutions	institution	NOUN
gujaf-145	118	12	and	and	CCONJ
gujaf-145	118	13	ex	ex	PRON
gujaf-145	118	14	post	post	NOUN
gujaf-145	118	15	risk	risk	NOUN
gujaf-145	118	16	have	have	VERB
gujaf-145	118	17	a	a	DET
gujaf-145	118	18	negative	negative	ADJ
gujaf-145	118	19	and	and	CCONJ
gujaf-145	118	20	significant	significant	ADJ
gujaf-145	118	21	relationship	relationship	NOUN
gujaf-145	118	22	,	,	PUNCT
gujaf-145	118	23	but	but	CCONJ
gujaf-145	118	24	only	only	ADV
gujaf-145	118	25	with	with	ADP
gujaf-145	118	26	ex	ex	PROPN
gujaf-145	118	27	ante	ante	NOUN
gujaf-145	118	28	risk	risk	NOUN
gujaf-145	118	29	does	do	AUX
gujaf-145	118	30	institutional	institutional	ADJ
gujaf-145	118	31	ownership	ownership	NOUN
gujaf-145	118	32	represented	represent	VERB
gujaf-145	118	33	by	by	ADP
gujaf-145	118	34	employee	employee	NOUN
gujaf-145	118	35	associations	association	NOUN
gujaf-145	118	36	have	have	VERB
gujaf-145	118	37	this	this	DET
gujaf-145	118	38	relationship	relationship	NOUN
gujaf-145	118	39	.	.	PUNCT
gujaf-145	119	1	to	to	PART
gujaf-145	119	2	make	make	VERB
gujaf-145	119	3	the	the	DET
gujaf-145	119	4	current	current	ADJ
gujaf-145	119	5	study	study	NOUN
gujaf-145	119	6	more	more	ADV
gujaf-145	119	7	robust	robust	ADJ
gujaf-145	119	8	for	for	ADP
gujaf-145	119	9	decision	decision	NOUN
gujaf-145	119	10	-	-	PUNCT
gujaf-145	119	11	making	making	NOUN
gujaf-145	119	12	,	,	PUNCT
gujaf-145	119	13	ownership	ownership	NOUN
gujaf-145	119	14	attributes	attribute	NOUN
gujaf-145	119	15	and	and	CCONJ
gujaf-145	119	16	stock	stock	NOUN
gujaf-145	119	17	return	return	NOUN
gujaf-145	119	18	were	be	AUX
gujaf-145	119	19	used	use	VERB
gujaf-145	119	20	.	.	PUNCT
gujaf-145	120	1	in	in	ADP
gujaf-145	120	2	canada	canada	PROPN
gujaf-145	120	3	,	,	PUNCT
gujaf-145	120	4	sayumwe	sayumwe	PROPN
gujaf-145	120	5	and	and	CCONJ
gujaf-145	120	6	amroune	amroune	PROPN
gujaf-145	120	7	(	(	PUNCT
gujaf-145	120	8	2017	2017	NUM
gujaf-145	120	9	)	)	PUNCT
gujaf-145	120	10	investigated	investigate	VERB
gujaf-145	120	11	the	the	DET
gujaf-145	120	12	relationship	relationship	NOUN
gujaf-145	120	13	between	between	ADP
gujaf-145	120	14	board	board	NOUN
gujaf-145	120	15	ownership	ownership	NOUN
gujaf-145	120	16	and	and	CCONJ
gujaf-145	120	17	the	the	DET
gujaf-145	120	18	market	market	NOUN
gujaf-145	120	19	price	price	NOUN
gujaf-145	120	20	per	per	ADP
gujaf-145	120	21	share	share	NOUN
gujaf-145	120	22	.	.	PUNCT
gujaf-145	121	1	the	the	DET
gujaf-145	121	2	study	study	NOUN
gujaf-145	121	3	used	use	VERB
gujaf-145	121	4	a	a	DET
gujaf-145	121	5	sample	sample	NOUN
gujaf-145	121	6	of	of	ADP
gujaf-145	121	7	50	50	NUM
gujaf-145	121	8	toronto	toronto	PROPN
gujaf-145	121	9	stock	stock	PROPN
gujaf-145	121	10	exchange	exchange	NOUN
gujaf-145	121	11	-	-	PUNCT
gujaf-145	121	12	listed	list	VERB
gujaf-145	121	13	canadian	canadian	ADJ
gujaf-145	121	14	companies	company	NOUN
gujaf-145	121	15	.	.	PUNCT
gujaf-145	122	1	data	datum	NOUN
gujaf-145	122	2	was	be	AUX
gujaf-145	122	3	gathered	gather	VERB
gujaf-145	122	4	from	from	ADP
gujaf-145	122	5	the	the	DET
gujaf-145	122	6	annual	annual	ADJ
gujaf-145	122	7	report	report	NOUN
gujaf-145	122	8	over	over	ADP
gujaf-145	122	9	a	a	DET
gujaf-145	122	10	five	five	NUM
gujaf-145	122	11	-	-	PUNCT
gujaf-145	122	12	year	year	NOUN
gujaf-145	122	13	period	period	NOUN
gujaf-145	122	14	,	,	PUNCT
gujaf-145	122	15	from	from	ADP
gujaf-145	122	16	2009	2009	NUM
gujaf-145	122	17	to	to	ADP
gujaf-145	122	18	2013	2013	NUM
gujaf-145	122	19	.	.	PUNCT
gujaf-145	123	1	the	the	DET
gujaf-145	123	2	effect	effect	NOUN
gujaf-145	123	3	of	of	ADP
gujaf-145	123	4	board	board	NOUN
gujaf-145	123	5	ownership	ownership	NOUN
gujaf-145	123	6	on	on	ADP
gujaf-145	123	7	the	the	DET
gujaf-145	123	8	market	market	NOUN
gujaf-145	123	9	price	price	NOUN
gujaf-145	123	10	per	per	ADP
gujaf-145	123	11	share	share	NOUN
gujaf-145	123	12	was	be	AUX
gujaf-145	123	13	investigated	investigate	VERB
gujaf-145	123	14	using	use	VERB
gujaf-145	123	15	a	a	DET
gujaf-145	123	16	regression	regression	NOUN
gujaf-145	123	17	analysis	analysis	NOUN
gujaf-145	123	18	technique	technique	NOUN
gujaf-145	123	19	.	.	PUNCT
gujaf-145	124	1	the	the	DET
gujaf-145	124	2	findings	finding	NOUN
gujaf-145	124	3	provided	provide	VERB
gujaf-145	124	4	substantial	substantial	ADJ
gujaf-145	124	5	and	and	CCONJ
gujaf-145	124	6	positive	positive	ADJ
gujaf-145	124	7	support	support	NOUN
gujaf-145	124	8	for	for	ADP
gujaf-145	124	9	the	the	DET
gujaf-145	124	10	effect	effect	NOUN
gujaf-145	124	11	of	of	ADP
gujaf-145	124	12	board	board	NOUN
gujaf-145	124	13	ownership	ownership	NOUN
gujaf-145	124	14	and	and	CCONJ
gujaf-145	124	15	directors	director	NOUN
gujaf-145	124	16	on	on	ADP
gujaf-145	124	17	the	the	DET
gujaf-145	124	18	market	market	NOUN
gujaf-145	124	19	price	price	NOUN
gujaf-145	124	20	per	per	ADP
gujaf-145	124	21	share	share	NOUN
gujaf-145	124	22	.	.	PUNCT
gujaf-145	125	1	this	this	DET
gujaf-145	125	2	study	study	NOUN
gujaf-145	125	3	was	be	AUX
gujaf-145	125	4	conducted	conduct	VERB
gujaf-145	125	5	in	in	ADP
gujaf-145	125	6	canada	canada	PROPN
gujaf-145	125	7	,	,	PUNCT
gujaf-145	125	8	which	which	PRON
gujaf-145	125	9	has	have	VERB
gujaf-145	125	10	a	a	DET
gujaf-145	125	11	different	different	ADJ
gujaf-145	125	12	investment	investment	NOUN
gujaf-145	125	13	climate	climate	NOUN
gujaf-145	125	14	than	than	ADP
gujaf-145	125	15	nigeria	nigeria	PRON
gujaf-145	125	16	;	;	PUNCT
gujaf-145	125	17	thus	thus	ADV
gujaf-145	125	18	,	,	PUNCT
gujaf-145	125	19	a	a	DET
gujaf-145	125	20	domestic	domestic	ADJ
gujaf-145	125	21	study	study	NOUN
gujaf-145	125	22	was	be	AUX
gujaf-145	125	23	required	require	VERB
gujaf-145	125	24	.	.	PUNCT
gujaf-145	126	1	an	an	DET
gujaf-145	126	2	agency	agency	NOUN
gujaf-145	126	3	relationship	relationship	NOUN
gujaf-145	126	4	develops	develop	VERB
gujaf-145	126	5	as	as	ADP
gujaf-145	126	6	a	a	DET
gujaf-145	126	7	result	result	NOUN
gujaf-145	126	8	of	of	ADP
gujaf-145	126	9	the	the	DET
gujaf-145	126	10	division	division	NOUN
gujaf-145	126	11	of	of	ADP
gujaf-145	126	12	owners	owner	NOUN
gujaf-145	126	13	and	and	CCONJ
gujaf-145	126	14	managers	manager	NOUN
gujaf-145	126	15	.	.	PUNCT
gujaf-145	127	1	an	an	DET
gujaf-145	127	2	agency	agency	NOUN
gujaf-145	127	3	relationship	relationship	NOUN
gujaf-145	127	4	exists	exist	VERB
gujaf-145	127	5	when	when	SCONJ
gujaf-145	127	6	one	one	NUM
gujaf-145	127	7	or	or	CCONJ
gujaf-145	127	8	more	more	ADJ
gujaf-145	127	9	people	people	NOUN
gujaf-145	127	10	(	(	PUNCT
gujaf-145	127	11	the	the	DET
gujaf-145	127	12	principal	principal	NOUN
gujaf-145	127	13	or	or	CCONJ
gujaf-145	127	14	principals	principal	NOUN
gujaf-145	127	15	)	)	PUNCT
gujaf-145	127	16	hire	hire	VERB
gujaf-145	127	17	another	another	DET
gujaf-145	127	18	person	person	NOUN
gujaf-145	127	19	or	or	CCONJ
gujaf-145	127	20	people	people	NOUN
gujaf-145	127	21	(	(	PUNCT
gujaf-145	127	22	the	the	DET
gujaf-145	127	23	agent	agent	NOUN
gujaf-145	127	24	or	or	CCONJ
gujaf-145	127	25	agents	agent	NOUN
gujaf-145	127	26	)	)	PUNCT
gujaf-145	127	27	to	to	PART
gujaf-145	127	28	perform	perform	VERB
gujaf-145	127	29	a	a	DET
gujaf-145	127	30	service	service	NOUN
gujaf-145	127	31	.	.	PUNCT
gujaf-145	128	1	hoskisson	hoskisson	PROPN
gujaf-145	128	2	,	,	PUNCT
gujaf-145	128	3	ireland	ireland	PROPN
gujaf-145	128	4	,	,	PUNCT
gujaf-145	128	5	and	and	CCONJ
gujaf-145	128	6	hitt	hitt	X
gujaf-145	128	7	(	(	PUNCT
gujaf-145	128	8	2011	2011	NUM
gujaf-145	128	9	)	)	PUNCT
gujaf-145	128	10	top	top	ADJ
gujaf-145	128	11	managers	manager	NOUN
gujaf-145	128	12	are	be	AUX
gujaf-145	128	13	hired	hire	VERB
gujaf-145	128	14	guns	gun	NOUN
gujaf-145	128	15	who	who	PRON
gujaf-145	128	16	prioritize	prioritize	VERB
gujaf-145	128	17	their	their	PRON
gujaf-145	128	18	own	own	ADJ
gujaf-145	128	19	interests	interest	NOUN
gujaf-145	128	20	over	over	ADP
gujaf-145	128	21	those	those	PRON
gujaf-145	128	22	of	of	ADP
gujaf-145	128	23	the	the	DET
gujaf-145	128	24	shareholders	shareholder	NOUN
gujaf-145	128	25	more	more	ADJ
gujaf-145	128	26	than	than	ADP
gujaf-145	128	27	anything	anything	PRON
gujaf-145	128	28	else	else	ADV
gujaf-145	128	29	(	(	PUNCT
gujaf-145	128	30	berle	berle	PROPN
gujaf-145	128	31	&	&	CCONJ
gujaf-145	128	32	means	mean	NOUN
gujaf-145	128	33	,	,	PUNCT
gujaf-145	128	34	1932	1932	NUM
gujaf-145	128	35	)	)	PUNCT
gujaf-145	128	36	.	.	PUNCT
gujaf-145	129	1	when	when	SCONJ
gujaf-145	129	2	management	management	NOUN
gujaf-145	129	3	prioritizes	prioritize	VERB
gujaf-145	129	4	measures	measure	NOUN
gujaf-145	129	5	to	to	PART
gujaf-145	129	6	increase	increase	VERB
gujaf-145	129	7	firm	firm	ADJ
gujaf-145	129	8	ownership	ownership	NOUN
gujaf-145	129	9	or	or	CCONJ
gujaf-145	129	10	diversify	diversify	VERB
gujaf-145	129	11	the	the	DET
gujaf-145	129	12	company	company	NOUN
gujaf-145	129	13	into	into	ADP
gujaf-145	129	14	unrelated	unrelated	ADJ
gujaf-145	129	15	businesses	business	NOUN
gujaf-145	129	16	at	at	ADP
gujaf-145	129	17	the	the	DET
gujaf-145	129	18	expense	expense	NOUN
gujaf-145	129	19	of	of	ADP
gujaf-145	129	20	shareholders	shareholder	NOUN
gujaf-145	129	21	,	,	PUNCT
gujaf-145	129	22	which	which	PRON
gujaf-145	129	23	lowers	lower	VERB
gujaf-145	129	24	dividends	dividend	NOUN
gujaf-145	129	25	and	and	CCONJ
gujaf-145	129	26	stock	stock	NOUN
gujaf-145	129	27	price	price	NOUN
gujaf-145	129	28	,	,	PUNCT
gujaf-145	129	29	an	an	DET
gujaf-145	129	30	agency	agency	NOUN
gujaf-145	129	31	problem	problem	NOUN
gujaf-145	129	32	occurs	occur	VERB
gujaf-145	129	33	.	.	PUNCT
gujaf-145	130	1	in	in	ADP
gujaf-145	130	2	dealing	deal	VERB
gujaf-145	130	3	with	with	ADP
gujaf-145	130	4	relationships	relationship	NOUN
gujaf-145	130	5	between	between	ADP
gujaf-145	130	6	principals	principal	NOUN
gujaf-145	130	7	and	and	CCONJ
gujaf-145	130	8	shareholders	shareholder	NOUN
gujaf-145	130	9	and	and	CCONJ
gujaf-145	130	10	their	their	PRON
gujaf-145	130	11	agents	agent	NOUN
gujaf-145	130	12	(	(	PUNCT
gujaf-145	130	13	boards	board	NOUN
gujaf-145	130	14	of	of	ADP
gujaf-145	130	15	directors	director	NOUN
gujaf-145	130	16	)	)	PUNCT
gujaf-145	130	17	,	,	PUNCT
gujaf-145	130	18	agency	agency	NOUN
gujaf-145	130	19	theory	theory	NOUN
gujaf-145	130	20	aims	aim	VERB
gujaf-145	130	21	to	to	PART
gujaf-145	130	22	investigate	investigate	VERB
gujaf-145	130	23	and	and	CCONJ
gujaf-145	130	24	resolve	resolve	VERB
gujaf-145	130	25	two	two	NUM
gujaf-145	130	26	problems	problem	NOUN
gujaf-145	130	27	:	:	PUNCT
gujaf-145	130	28	corporate	corporate	ADJ
gujaf-145	130	29	governance	governance	NOUN
gujaf-145	130	30	research	research	NOUN
gujaf-145	130	31	places	place	VERB
gujaf-145	130	32	a	a	DET
gujaf-145	130	33	lot	lot	NOUN
gujaf-145	130	34	of	of	ADP
gujaf-145	130	35	emphasis	emphasis	NOUN
gujaf-145	130	36	on	on	ADP
gujaf-145	130	37	the	the	DET
gujaf-145	130	38	"	"	PUNCT
gujaf-145	130	39	control	control	NOUN
gujaf-145	130	40	"	"	PUNCT
gujaf-145	130	41	role	role	NOUN
gujaf-145	130	42	,	,	PUNCT
gujaf-145	130	43	or	or	CCONJ
gujaf-145	130	44	the	the	DET
gujaf-145	130	45	functioning	functioning	NOUN
gujaf-145	130	46	of	of	ADP
gujaf-145	130	47	the	the	DET
gujaf-145	130	48	board	board	NOUN
gujaf-145	130	49	(	(	PUNCT
gujaf-145	130	50	boyd	boyd	PROPN
gujaf-145	130	51	,	,	PUNCT
gujaf-145	130	52	1990	1990	NUM
gujaf-145	130	53	;	;	PUNCT
gujaf-145	130	54	johnson	johnson	PROPN
gujaf-145	130	55	,	,	PUNCT
gujaf-145	130	56	daily	daily	ADV
gujaf-145	130	57	,	,	PUNCT
gujaf-145	130	58	and	and	CCONJ
gujaf-145	130	59	ellastrand	ellastrand	NOUN
gujaf-145	130	60	,	,	PUNCT
gujaf-145	130	61	1996	1996	NUM
gujaf-145	130	62	)	)	PUNCT
gujaf-145	130	63	.	.	PUNCT
gujaf-145	131	1	8	8	NUM
gujaf-145	131	2	(	(	PUNCT
gujaf-145	131	3	hillman	hillman	PROPN
gujaf-145	131	4	&	&	CCONJ
gujaf-145	131	5	dalziel	dalziel	PROPN
gujaf-145	131	6	,	,	PUNCT
gujaf-145	131	7	2003	2003	NUM
gujaf-145	131	8	)	)	PUNCT
gujaf-145	131	9	.	.	PUNCT
gujaf-145	132	1	the	the	DET
gujaf-145	132	2	agency	agency	NOUN
gujaf-145	132	3	theory	theory	NOUN
gujaf-145	132	4	,	,	PUNCT
gujaf-145	132	5	which	which	PRON
gujaf-145	132	6	asserts	assert	VERB
gujaf-145	132	7	that	that	SCONJ
gujaf-145	132	8	ownership	ownership	NOUN
gujaf-145	132	9	and	and	CCONJ
gujaf-145	132	10	control	control	NOUN
gujaf-145	132	11	separation	separation	NOUN
gujaf-145	132	12	can	can	AUX
gujaf-145	132	13	lead	lead	VERB
gujaf-145	132	14	to	to	ADP
gujaf-145	132	15	conflicts	conflict	NOUN
gujaf-145	132	16	of	of	ADP
gujaf-145	132	17	interest	interest	NOUN
gujaf-145	132	18	in	in	ADP
gujaf-145	132	19	organizations	organization	NOUN
gujaf-145	132	20	,	,	PUNCT
gujaf-145	132	21	is	be	AUX
gujaf-145	132	22	the	the	DET
gujaf-145	132	23	main	main	ADJ
gujaf-145	132	24	theoretical	theoretical	ADJ
gujaf-145	132	25	framework	framework	NOUN
gujaf-145	132	26	that	that	PRON
gujaf-145	132	27	links	link	VERB
gujaf-145	132	28	this	this	DET
gujaf-145	132	29	monitoring	monitoring	NOUN
gujaf-145	132	30	function	function	NOUN
gujaf-145	132	31	to	to	ADP
gujaf-145	132	32	firm	firm	ADJ
gujaf-145	132	33	performance	performance	NOUN
gujaf-145	132	34	,	,	PUNCT
gujaf-145	132	35	which	which	PRON
gujaf-145	132	36	explained	explain	VERB
gujaf-145	132	37	the	the	DET
gujaf-145	132	38	philosophy	philosophy	NOUN
gujaf-145	132	39	of	of	ADP
gujaf-145	132	40	the	the	DET
gujaf-145	132	41	study	study	NOUN
gujaf-145	132	42	.	.	PUNCT
gujaf-145	133	1	3	3	X
gujaf-145	133	2	.	.	X
gujaf-145	133	3	methodology	methodology	NOUN
gujaf-145	133	4	and	and	CCONJ
gujaf-145	133	5	model	model	NOUN
gujaf-145	133	6	specifcation	specifcation	NOUN
gujaf-145	133	7	the	the	DET
gujaf-145	133	8	ex	ex	NOUN
gujaf-145	133	9	-	-	ADJ
gujaf-145	133	10	post	post	ADJ
gujaf-145	133	11	facto	facto	X
gujaf-145	133	12	approach	approach	NOUN
gujaf-145	133	13	was	be	AUX
gujaf-145	133	14	chosen	choose	VERB
gujaf-145	133	15	because	because	SCONJ
gujaf-145	133	16	the	the	DET
gujaf-145	133	17	event	event	NOUN
gujaf-145	133	18	under	under	ADP
gujaf-145	133	19	consideration	consideration	NOUN
gujaf-145	133	20	has	have	AUX
gujaf-145	133	21	already	already	ADV
gujaf-145	133	22	occurred	occur	VERB
gujaf-145	133	23	.	.	PUNCT
gujaf-145	134	1	this	this	DET
gujaf-145	134	2	study	study	NOUN
gujaf-145	134	3	is	be	AUX
gujaf-145	134	4	based	base	VERB
gujaf-145	134	5	on	on	ADP
gujaf-145	134	6	historical	historical	ADJ
gujaf-145	134	7	data	datum	NOUN
gujaf-145	134	8	.	.	PUNCT
gujaf-145	135	1	the	the	DET
gujaf-145	135	2	study	study	NOUN
gujaf-145	135	3	will	will	AUX
gujaf-145	135	4	use	use	VERB
gujaf-145	135	5	the	the	DET
gujaf-145	135	6	multiple	multiple	ADJ
gujaf-145	135	7	regression	regression	NOUN
gujaf-145	135	8	technique	technique	NOUN
gujaf-145	135	9	to	to	PART
gujaf-145	135	10	determine	determine	VERB
gujaf-145	135	11	the	the	DET
gujaf-145	135	12	impact	impact	NOUN
gujaf-145	135	13	of	of	ADP
gujaf-145	135	14	independent	independent	ADJ
gujaf-145	135	15	variables	variable	NOUN
gujaf-145	135	16	on	on	ADP
gujaf-145	135	17	the	the	DET
gujaf-145	135	18	dependent	dependent	ADJ
gujaf-145	135	19	variable	variable	NOUN
gujaf-145	135	20	because	because	SCONJ
gujaf-145	135	21	it	it	PRON
gujaf-145	135	22	is	be	AUX
gujaf-145	135	23	the	the	DET
gujaf-145	135	24	most	most	ADV
gujaf-145	135	25	appropriate	appropriate	ADJ
gujaf-145	135	26	technique	technique	NOUN
gujaf-145	135	27	for	for	ADP
gujaf-145	135	28	determining	determine	VERB
gujaf-145	135	29	the	the	DET
gujaf-145	135	30	extent	extent	NOUN
gujaf-145	135	31	of	of	ADP
gujaf-145	135	32	the	the	DET
gujaf-145	135	33	impact	impact	NOUN
gujaf-145	135	34	of	of	ADP
gujaf-145	135	35	independent	independent	ADJ
gujaf-145	135	36	variables	variable	NOUN
gujaf-145	135	37	on	on	ADP
gujaf-145	135	38	the	the	DET
gujaf-145	135	39	dependent	dependent	ADJ
gujaf-145	135	40	variable	variable	NOUN
gujaf-145	135	41	.	.	PUNCT
gujaf-145	136	1	the	the	DET
gujaf-145	136	2	stata	stata	ADJ
gujaf-145	136	3	statistical	statistical	ADJ
gujaf-145	136	4	package	package	NOUN
gujaf-145	136	5	was	be	AUX
gujaf-145	136	6	used	use	VERB
gujaf-145	136	7	because	because	SCONJ
gujaf-145	136	8	it	it	PRON
gujaf-145	136	9	allows	allow	VERB
gujaf-145	136	10	for	for	ADP
gujaf-145	136	11	determining	determine	VERB
gujaf-145	136	12	the	the	DET
gujaf-145	136	13	impact	impact	NOUN
gujaf-145	136	14	of	of	ADP
gujaf-145	136	15	independent	independent	ADJ
gujaf-145	136	16	variables	variable	NOUN
gujaf-145	136	17	on	on	ADP
gujaf-145	136	18	the	the	DET
gujaf-145	136	19	dependent	dependent	ADJ
gujaf-145	136	20	variable	variable	NOUN
gujaf-145	136	21	as	as	ADV
gujaf-145	136	22	well	well	ADV
gujaf-145	136	23	as	as	ADP
gujaf-145	136	24	testing	testing	NOUN
gujaf-145	136	25	for	for	ADP
gujaf-145	136	26	robustness	robustness	NOUN
gujaf-145	136	27	using	use	VERB
gujaf-145	136	28	tests	test	NOUN
gujaf-145	136	29	like	like	ADP
gujaf-145	136	30	the	the	DET
gujaf-145	136	31	heteroscedasticity	heteroscedasticity	NOUN
gujaf-145	136	32	test	test	NOUN
gujaf-145	136	33	,	,	PUNCT
gujaf-145	136	34	fixed	fix	VERB
gujaf-145	136	35	and	and	CCONJ
gujaf-145	136	36	random	random	ADJ
gujaf-145	136	37	effect	effect	NOUN
gujaf-145	136	38	test	test	NOUN
gujaf-145	136	39	,	,	PUNCT
gujaf-145	136	40	and	and	CCONJ
gujaf-145	136	41	multicollinearity	multicollinearity	NOUN
gujaf-145	136	42	test	test	NOUN
gujaf-145	136	43	.	.	PUNCT
gujaf-145	137	1	in	in	ADP
gujaf-145	137	2	this	this	DET
gujaf-145	137	3	instance	instance	NOUN
gujaf-145	137	4	,	,	PUNCT
gujaf-145	137	5	the	the	DET
gujaf-145	137	6	study	study	NOUN
gujaf-145	137	7	looked	look	VERB
gujaf-145	137	8	into	into	ADP
gujaf-145	137	9	how	how	SCONJ
gujaf-145	137	10	ownership	ownership	NOUN
gujaf-145	137	11	structure	structure	NOUN
gujaf-145	137	12	affected	affect	VERB
gujaf-145	137	13	stock	stock	NOUN
gujaf-145	137	14	returns	return	NOUN
gujaf-145	137	15	following	follow	VERB
gujaf-145	137	16	the	the	DET
gujaf-145	137	17	occurrence	occurrence	NOUN
gujaf-145	137	18	of	of	ADP
gujaf-145	137	19	the	the	DET
gujaf-145	137	20	relevant	relevant	ADJ
gujaf-145	137	21	event	event	NOUN
gujaf-145	137	22	.	.	PUNCT
gujaf-145	138	1	in	in	ADP
gujaf-145	138	2	order	order	NOUN
gujaf-145	138	3	to	to	PART
gujaf-145	138	4	address	address	VERB
gujaf-145	138	5	the	the	DET
gujaf-145	138	6	research	research	NOUN
gujaf-145	138	7	problem	problem	NOUN
gujaf-145	138	8	,	,	PUNCT
gujaf-145	138	9	this	this	DET
gujaf-145	138	10	study	study	NOUN
gujaf-145	138	11	used	use	VERB
gujaf-145	138	12	a	a	DET
gujaf-145	138	13	descriptive	descriptive	ADJ
gujaf-145	138	14	ex	ex	NOUN
gujaf-145	138	15	-	-	ADJ
gujaf-145	138	16	post	post	ADJ
gujaf-145	138	17	facto	facto	X
gujaf-145	138	18	research	research	NOUN
gujaf-145	138	19	methodology	methodology	NOUN
gujaf-145	138	20	and	and	CCONJ
gujaf-145	138	21	a	a	DET
gujaf-145	138	22	positivist	positivist	NOUN
gujaf-145	138	23	philosophy	philosophy	NOUN
gujaf-145	138	24	.	.	PUNCT
gujaf-145	139	1	all	all	DET
gujaf-145	139	2	23	23	NUM
gujaf-145	139	3	consumer	consumer	NOUN
gujaf-145	139	4	goods	good	NOUN
gujaf-145	139	5	companies	company	NOUN
gujaf-145	139	6	that	that	PRON
gujaf-145	139	7	were	be	AUX
gujaf-145	139	8	listed	list	VERB
gujaf-145	139	9	on	on	ADP
gujaf-145	139	10	the	the	DET
gujaf-145	139	11	nigerian	nigerian	ADJ
gujaf-145	139	12	stock	stock	NOUN
gujaf-145	139	13	exchange	exchange	NOUN
gujaf-145	139	14	as	as	ADP
gujaf-145	139	15	of	of	ADP
gujaf-145	139	16	2020	2020	NUM
gujaf-145	139	17	made	make	VERB
gujaf-145	139	18	up	up	ADP
gujaf-145	139	19	the	the	DET
gujaf-145	139	20	study	study	NOUN
gujaf-145	139	21	's	's	PART
gujaf-145	139	22	sample	sample	NOUN
gujaf-145	139	23	.	.	PUNCT
gujaf-145	140	1	purposive	purposive	ADJ
gujaf-145	140	2	sampling	sampling	NOUN
gujaf-145	140	3	was	be	AUX
gujaf-145	140	4	used	use	VERB
gujaf-145	140	5	in	in	ADP
gujaf-145	140	6	the	the	DET
gujaf-145	140	7	study	study	NOUN
gujaf-145	140	8	to	to	PART
gujaf-145	140	9	create	create	VERB
gujaf-145	140	10	a	a	DET
gujaf-145	140	11	sample	sample	NOUN
gujaf-145	140	12	size	size	NOUN
gujaf-145	140	13	of	of	ADP
gujaf-145	140	14	sixteen	sixteen	NUM
gujaf-145	140	15	(	(	PUNCT
gujaf-145	140	16	16	16	NUM
gujaf-145	140	17	)	)	PUNCT
gujaf-145	140	18	,	,	PUNCT
gujaf-145	140	19	and	and	CCONJ
gujaf-145	140	20	seven	seven	NUM
gujaf-145	140	21	(	(	PUNCT
gujaf-145	140	22	7	7	NUM
gujaf-145	140	23	)	)	PUNCT
gujaf-145	140	24	consumer	consumer	NOUN
gujaf-145	140	25	goods	good	NOUN
gujaf-145	140	26	companies	company	NOUN
gujaf-145	140	27	marked	mark	VERB
gujaf-145	140	28	with	with	ADP
gujaf-145	140	29	an	an	DET
gujaf-145	140	30	asterisk	asterisk	NOUN
gujaf-145	140	31	(	(	PUNCT
gujaf-145	140	32	*	*	PUNCT
gujaf-145	140	33	*	*	PUNCT
gujaf-145	140	34	)	)	PUNCT
gujaf-145	140	35	were	be	AUX
gujaf-145	140	36	removed	remove	VERB
gujaf-145	140	37	from	from	ADP
gujaf-145	140	38	the	the	DET
gujaf-145	140	39	list	list	NOUN
gujaf-145	140	40	.	.	PUNCT
gujaf-145	141	1	this	this	DET
gujaf-145	141	2	number	number	NOUN
gujaf-145	141	3	results	result	VERB
gujaf-145	141	4	from	from	ADP
gujaf-145	141	5	the	the	DET
gujaf-145	141	6	demand	demand	NOUN
gujaf-145	141	7	that	that	SCONJ
gujaf-145	141	8	a	a	DET
gujaf-145	141	9	company	company	NOUN
gujaf-145	141	10	have	have	AUX
gujaf-145	141	11	complete	complete	ADJ
gujaf-145	141	12	data	datum	NOUN
gujaf-145	141	13	for	for	ADP
gujaf-145	141	14	the	the	DET
gujaf-145	141	15	number	number	NOUN
gujaf-145	141	16	of	of	ADP
gujaf-145	141	17	years	year	NOUN
gujaf-145	141	18	being	be	AUX
gujaf-145	141	19	taken	take	VERB
gujaf-145	141	20	into	into	ADP
gujaf-145	141	21	account	account	NOUN
gujaf-145	141	22	.	.	PUNCT
gujaf-145	142	1	additionally	additionally	ADV
gujaf-145	142	2	,	,	PUNCT
gujaf-145	142	3	information	information	NOUN
gujaf-145	142	4	was	be	AUX
gujaf-145	142	5	gathered	gather	VERB
gujaf-145	142	6	from	from	ADP
gujaf-145	142	7	the	the	DET
gujaf-145	142	8	sampled	sample	VERB
gujaf-145	142	9	companies	company	NOUN
gujaf-145	142	10	'	'	PART
gujaf-145	142	11	annual	annual	ADJ
gujaf-145	142	12	reports	report	NOUN
gujaf-145	142	13	(	(	PUNCT
gujaf-145	142	14	2010	2010	NUM
gujaf-145	142	15	to	to	ADP
gujaf-145	142	16	2019	2019	NUM
gujaf-145	142	17	)	)	PUNCT
gujaf-145	142	18	.	.	PUNCT
gujaf-145	143	1	on	on	ADP
gujaf-145	143	2	the	the	DET
gujaf-145	143	3	nigerian	nigerian	ADJ
gujaf-145	143	4	stock	stock	NOUN
gujaf-145	143	5	exchange	exchange	NOUN
gujaf-145	143	6	,	,	PUNCT
gujaf-145	143	7	these	these	DET
gujaf-145	143	8	firms	firm	NOUN
gujaf-145	143	9	are	be	AUX
gujaf-145	143	10	listed	list	VERB
gujaf-145	143	11	as	as	ADP
gujaf-145	143	12	public	public	ADJ
gujaf-145	143	13	limited	limited	ADJ
gujaf-145	143	14	companies	company	NOUN
gujaf-145	143	15	.	.	PUNCT
gujaf-145	144	1	the	the	DET
gujaf-145	144	2	study	study	NOUN
gujaf-145	144	3	's	's	PART
gujaf-145	144	4	data	datum	NOUN
gujaf-145	144	5	is	be	AUX
gujaf-145	144	6	based	base	VERB
gujaf-145	144	7	on	on	ADP
gujaf-145	144	8	a	a	DET
gujaf-145	144	9	panel	panel	NOUN
gujaf-145	144	10	of	of	ADP
gujaf-145	144	11	participants	participant	NOUN
gujaf-145	144	12	(	(	PUNCT
gujaf-145	144	13	i.e.	i.e.	X
gujaf-145	144	14	,	,	PUNCT
gujaf-145	144	15	cross	cross	ADJ
gujaf-145	144	16	-	-	ADJ
gujaf-145	144	17	sectional	sectional	ADJ
gujaf-145	144	18	time	time	NOUN
gujaf-145	144	19	series	series	PROPN
gujaf-145	144	20	data	data	PROPN
gujaf-145	144	21	)	)	PUNCT
gujaf-145	144	22	.	.	PUNCT
gujaf-145	145	1	variable	variable	ADJ
gujaf-145	145	2	measurement	measurement	NOUN
gujaf-145	145	3	a	a	DET
gujaf-145	145	4	model	model	NOUN
gujaf-145	145	5	was	be	AUX
gujaf-145	145	6	created	create	VERB
gujaf-145	145	7	to	to	PART
gujaf-145	145	8	look	look	VERB
gujaf-145	145	9	into	into	ADP
gujaf-145	145	10	the	the	DET
gujaf-145	145	11	variables	variable	NOUN
gujaf-145	145	12	affecting	affect	VERB
gujaf-145	145	13	the	the	DET
gujaf-145	145	14	ownership	ownership	NOUN
gujaf-145	145	15	characteristics	characteristic	NOUN
gujaf-145	145	16	and	and	CCONJ
gujaf-145	145	17	stock	stock	NOUN
gujaf-145	145	18	returns	return	NOUN
gujaf-145	145	19	of	of	ADP
gujaf-145	145	20	publicly	publicly	ADV
gujaf-145	145	21	traded	trade	VERB
gujaf-145	145	22	consumer	consumer	NOUN
gujaf-145	145	23	goods	good	NOUN
gujaf-145	145	24	companies	company	NOUN
gujaf-145	145	25	in	in	ADP
gujaf-145	145	26	nigeria	nigeria	PROPN
gujaf-145	145	27	.	.	PUNCT
gujaf-145	146	1	to	to	PART
gujaf-145	146	2	predict	predict	VERB
gujaf-145	146	3	stock	stock	NOUN
gujaf-145	146	4	returns	return	NOUN
gujaf-145	146	5	,	,	PUNCT
gujaf-145	146	6	the	the	DET
gujaf-145	146	7	factors	factor	NOUN
gujaf-145	146	8	influencing	influence	VERB
gujaf-145	146	9	ownership	ownership	NOUN
gujaf-145	146	10	structure	structure	NOUN
gujaf-145	146	11	will	will	AUX
gujaf-145	146	12	be	be	AUX
gujaf-145	146	13	taken	take	VERB
gujaf-145	146	14	into	into	ADP
gujaf-145	146	15	account	account	NOUN
gujaf-145	146	16	.	.	PUNCT
gujaf-145	147	1	as	as	ADP
gujaf-145	147	2	a	a	DET
gujaf-145	147	3	result	result	NOUN
gujaf-145	147	4	,	,	PUNCT
gujaf-145	147	5	the	the	DET
gujaf-145	147	6	statistical	statistical	ADJ
gujaf-145	147	7	analysis	analysis	NOUN
gujaf-145	147	8	for	for	ADP
gujaf-145	147	9	this	this	DET
gujaf-145	147	10	study	study	NOUN
gujaf-145	147	11	will	will	AUX
gujaf-145	147	12	be	be	AUX
gujaf-145	147	13	based	base	VERB
gujaf-145	147	14	on	on	ADP
gujaf-145	147	15	the	the	DET
gujaf-145	147	16	arbitrage	arbitrage	NOUN
gujaf-145	147	17	pricing	pricing	NOUN
gujaf-145	147	18	theory	theory	NOUN
gujaf-145	147	19	(	(	PUNCT
gujaf-145	147	20	apt	apt	ADJ
gujaf-145	147	21	)	)	PUNCT
gujaf-145	147	22	,	,	PUNCT
gujaf-145	147	23	which	which	PRON
gujaf-145	147	24	asserts	assert	VERB
gujaf-145	147	25	that	that	SCONJ
gujaf-145	147	26	a	a	DET
gujaf-145	147	27	number	number	NOUN
gujaf-145	147	28	of	of	ADP
gujaf-145	147	29	economic	economic	ADJ
gujaf-145	147	30	factors	factor	NOUN
gujaf-145	147	31	determine	determine	VERB
gujaf-145	147	32	stock	stock	NOUN
gujaf-145	147	33	returns	return	NOUN
gujaf-145	147	34	.	.	PUNCT
gujaf-145	148	1	the	the	DET
gujaf-145	148	2	factors	factor	NOUN
gujaf-145	148	3	influencing	influence	VERB
gujaf-145	148	4	stock	stock	NOUN
gujaf-145	148	5	returns	return	NOUN
gujaf-145	148	6	in	in	ADP
gujaf-145	148	7	consumer	consumer	NOUN
gujaf-145	148	8	goods	good	NOUN
gujaf-145	148	9	companies	company	NOUN
gujaf-145	148	10	were	be	AUX
gujaf-145	148	11	looked	look	VERB
gujaf-145	148	12	into	into	ADP
gujaf-145	148	13	by	by	ADP
gujaf-145	148	14	the	the	DET
gujaf-145	148	15	researchers	researcher	NOUN
gujaf-145	148	16	.	.	PUNCT
gujaf-145	149	1	below	below	ADV
gujaf-145	149	2	are	be	AUX
gujaf-145	149	3	images	image	NOUN
gujaf-145	149	4	of	of	ADP
gujaf-145	149	5	the	the	DET
gujaf-145	149	6	models	model	NOUN
gujaf-145	149	7	.	.	PUNCT
gujaf-145	150	1	9	9	NUM
gujaf-145	150	2	srit	srit	NOUN
gujaf-145	150	3	=	=	SYM
gujaf-145	150	4	b+1ocit+2ioit+3moit+it	b+1ocit+2ioit+3moit+it	NOUN
gujaf-145	150	5	.....................................................................................	.....................................................................................	SYM
gujaf-145	150	6	(i	(i	PROPN
gujaf-145	150	7	)	)	PUNCT
gujaf-145	150	8	where	where	SCONJ
gujaf-145	150	9	:	:	PUNCT
gujaf-145	150	10	oc	oc	ADP
gujaf-145	150	11	=	=	NOUN
gujaf-145	150	12	ownership	ownership	NOUN
gujaf-145	150	13	concentration	concentration	NOUN
gujaf-145	150	14	,	,	PUNCT
gujaf-145	150	15	io	io	NOUN
gujaf-145	150	16	=	=	PUNCT
gujaf-145	150	17	institutional	institutional	ADJ
gujaf-145	150	18	ownership	ownership	NOUN
gujaf-145	150	19	,	,	PUNCT
gujaf-145	150	20	mo	mo	NOUN
gujaf-145	150	21	=	=	PROPN
gujaf-145	150	22	managerial	managerial	ADJ
gujaf-145	150	23	ownership	ownership	NOUN
gujaf-145	150	24	,	,	PUNCT
gujaf-145	150	25	b0	b0	NOUN
gujaf-145	150	26	=	=	SYM
gujaf-145	150	27	(	(	PUNCT
gujaf-145	150	28	constant	constant	ADJ
gujaf-145	150	29	)	)	PUNCT
gujaf-145	150	30	intercept	intercept	NOUN
gujaf-145	150	31	,	,	PUNCT
gujaf-145	150	32	i	i	PRON
gujaf-145	150	33	denotes	denote	VERB
gujaf-145	150	34	cross	cross	ADJ
gujaf-145	150	35	-	-	ADJ
gujaf-145	150	36	sectional	sectional	ADJ
gujaf-145	150	37	time.t	time.t	NOUN
gujaf-145	150	38	=	=	PUNCT
gujaf-145	150	39	time	time	NOUN
gujaf-145	150	40	series	series	NOUN
gujaf-145	150	41	,	,	PUNCT
gujaf-145	150	42	=	=	SYM
gujaf-145	150	43	error	error	NOUN
gujaf-145	150	44	phrase	phrase	NOUN
gujaf-145	150	45	measurement	measurement	NOUN
gujaf-145	150	46	of	of	ADP
gujaf-145	150	47	variables	variable	NOUN
gujaf-145	150	48	s	s	PROPN
gujaf-145	150	49	/	/	SYM
gujaf-145	150	50	n	n	NUM
gujaf-145	150	51	variables	variable	NOUN
gujaf-145	150	52	definitions	definition	NOUN
gujaf-145	150	53	type	type	NOUN
gujaf-145	150	54	measurement	measurement	NOUN
gujaf-145	150	55	construct	construct	VERB
gujaf-145	150	56	validity	validity	NOUN
gujaf-145	150	57	source	source	NOUN
gujaf-145	150	58	1	1	NUM
gujaf-145	150	59	sr	sr	PROPN
gujaf-145	150	60	stock	stock	NOUN
gujaf-145	150	61	returns	return	NOUN
gujaf-145	150	62	dependent	dependent	ADJ
gujaf-145	150	63	annual	annual	ADJ
gujaf-145	150	64	allshare	allshare	PROPN
gujaf-145	150	65	index	index	PROPN
gujaf-145	150	66	(	(	PUNCT
gujaf-145	150	67	asi	asi	NOUN
gujaf-145	150	68	)	)	PUNCT
gujaf-145	150	69	)	)	PUNCT
gujaf-145	150	70	tripathi	tripathi	PROPN
gujaf-145	150	71	and	and	CCONJ
gujaf-145	150	72	seth	seth	PROPN
gujaf-145	150	73	(	(	PUNCT
gujaf-145	150	74	2014	2014	NUM
gujaf-145	150	75	)	)	PUNCT
gujaf-145	150	76	,	,	PUNCT
gujaf-145	150	77	ntshangase	ntshangase	PROPN
gujaf-145	150	78	,	,	PUNCT
gujaf-145	150	79	mingiri	mingiri	PROPN
gujaf-145	150	80	and	and	CCONJ
gujaf-145	150	81	palesa	palesa	PROPN
gujaf-145	150	82	(	(	PUNCT
gujaf-145	150	83	2016	2016	NUM
gujaf-145	150	84	)	)	PUNCT
gujaf-145	150	85	,	,	PUNCT
gujaf-145	150	86	khalid	khalid	PROPN
gujaf-145	150	87	and	and	CCONJ
gujaf-145	150	88	khan	khan	PROPN
gujaf-145	150	89	(	(	PUNCT
gujaf-145	150	90	2017	2017	NUM
gujaf-145	150	91	)	)	PUNCT
gujaf-145	150	92	.	.	PUNCT
gujaf-145	151	1	2	2	X
gujaf-145	151	2	.	.	X
gujaf-145	151	3	oc	oc	ADP
gujaf-145	151	4	ownership	ownership	NOUN
gujaf-145	151	5	concentration	concentration	NOUN
gujaf-145	151	6	independent	independent	ADJ
gujaf-145	151	7	the	the	DET
gujaf-145	151	8	proportion	proportion	NOUN
gujaf-145	151	9	of	of	ADP
gujaf-145	151	10	shares	share	NOUN
gujaf-145	151	11	held	hold	VERB
gujaf-145	151	12	by	by	ADP
gujaf-145	151	13	a	a	DET
gujaf-145	151	14	certain	certain	ADJ
gujaf-145	151	15	number	number	NOUN
gujaf-145	151	16	of	of	ADP
gujaf-145	151	17	block	block	NOUN
gujaf-145	151	18	holders	holder	NOUN
gujaf-145	151	19	greater	great	ADJ
gujaf-145	151	20	than	than	ADP
gujaf-145	151	21	5	5	NUM
gujaf-145	151	22	%	%	NOUN
gujaf-145	151	23	?	?	PUNCT
gujaf-145	152	1	iqbal	iqbal	PROPN
gujaf-145	152	2	,	,	PUNCT
gujaf-145	152	3	siddiq	siddiq	PROPN
gujaf-145	152	4	and	and	CCONJ
gujaf-145	152	5	gul	gul	PROPN
gujaf-145	152	6	(	(	PUNCT
gujaf-145	152	7	2016	2016	NUM
gujaf-145	152	8	)	)	PUNCT
gujaf-145	152	9	;	;	PUNCT
gujaf-145	152	10	erivelto	erivelto	NOUN
gujaf-145	152	11	and	and	CCONJ
gujaf-145	152	12	fernando	fernando	PROPN
gujaf-145	152	13	(	(	PUNCT
gujaf-145	152	14	2016	2016	NUM
gujaf-145	152	15	)	)	PUNCT
gujaf-145	152	16	;	;	PUNCT
gujaf-145	152	17	foroughi	foroughi	PROPN
gujaf-145	152	18	and	and	CCONJ
gujaf-145	152	19	fooladi	fooladi	ADJ
gujaf-145	152	20	(	(	PUNCT
gujaf-145	152	21	2012	2012	NUM
gujaf-145	152	22	)	)	PUNCT
gujaf-145	152	23	.	.	PUNCT
gujaf-145	153	1	3	3	X
gujaf-145	153	2	.	.	X
gujaf-145	153	3	mo	mo	PROPN
gujaf-145	153	4	managerial	managerial	PROPN
gujaf-145	153	5	ownership	ownership	NOUN
gujaf-145	153	6	independent	independent	NOUN
gujaf-145	153	7	measured	measure	VERB
gujaf-145	153	8	as	as	ADP
gujaf-145	153	9	the	the	DET
gujaf-145	153	10	proportion	proportion	NOUN
gujaf-145	153	11	of	of	ADP
gujaf-145	153	12	management	management	NOUN
gujaf-145	153	13	interest	interest	NOUN
gujaf-145	153	14	in	in	ADP
gujaf-145	153	15	the	the	DET
gujaf-145	153	16	firm	firm	NOUN
gujaf-145	153	17	's	's	PART
gujaf-145	153	18	equity	equity	NOUN
gujaf-145	153	19	shareholding	shareholding	NOUN
gujaf-145	153	20	ezazi	ezazi	NOUN
gujaf-145	153	21	,	,	PUNCT
gujaf-145	153	22	sadeghi	sadeghi	PROPN
gujaf-145	153	23	and	and	CCONJ
gujaf-145	153	24	amjadi	amjadi	PROPN
gujaf-145	153	25	(	(	PUNCT
gujaf-145	153	26	2011	2011	NUM
gujaf-145	153	27	)	)	PUNCT
gujaf-145	153	28	;	;	PUNCT
gujaf-145	153	29	bawa	bawa	PROPN
gujaf-145	153	30	and	and	CCONJ
gujaf-145	153	31	isa	isa	PROPN
gujaf-145	153	32	(	(	PUNCT
gujaf-145	153	33	2014	2014	NUM
gujaf-145	153	34	)	)	PUNCT
gujaf-145	153	35	;	;	PUNCT
gujaf-145	153	36	teshima	teshima	NOUN
gujaf-145	153	37	and	and	CCONJ
gujaf-145	153	38	shuto	shuto	PROPN
gujaf-145	153	39	(	(	PUNCT
gujaf-145	153	40	2008	2008	NUM
gujaf-145	153	41	)	)	PUNCT
gujaf-145	153	42	;	;	PUNCT
gujaf-145	153	43	wafa	wafa	PROPN
gujaf-145	153	44	and	and	CCONJ
gujaf-145	153	45	younes	youne	NOUN
gujaf-145	153	46	,	,	PUNCT
gujaf-145	153	47	(	(	PUNCT
gujaf-145	153	48	2014	2014	NUM
gujaf-145	153	49	)	)	PUNCT
gujaf-145	153	50	.	.	PUNCT
gujaf-145	154	1	4	4	X
gujaf-145	154	2	.	.	X
gujaf-145	154	3	io	io	X
gujaf-145	154	4	institutional	institutional	ADJ
gujaf-145	154	5	ownership	ownership	NOUN
gujaf-145	154	6	independent	independent	NOUN
gujaf-145	154	7	measured	measure	VERB
gujaf-145	154	8	by	by	ADP
gujaf-145	154	9	the	the	DET
gujaf-145	154	10	ratio	ratio	NOUN
gujaf-145	154	11	of	of	ADP
gujaf-145	154	12	equity	equity	NOUN
gujaf-145	154	13	shares	share	NOUN
gujaf-145	154	14	of	of	ADP
gujaf-145	154	15	the	the	DET
gujaf-145	154	16	firm	firm	NOUN
gujaf-145	154	17	held	hold	VERB
gujaf-145	154	18	by	by	ADP
gujaf-145	154	19	institutional	institutional	ADJ
gujaf-145	154	20	investors	investor	NOUN
gujaf-145	154	21	to	to	PART
gujaf-145	154	22	iqbal	iqbal	PROPN
gujaf-145	154	23	,	,	PUNCT
gujaf-145	154	24	siddiq	siddiq	PROPN
gujaf-145	154	25	and	and	CCONJ
gujaf-145	154	26	gul	gul	PROPN
gujaf-145	154	27	(	(	PUNCT
gujaf-145	154	28	2016	2016	NUM
gujaf-145	154	29	)	)	PUNCT
gujaf-145	154	30	;	;	PUNCT
gujaf-145	155	1	hajara	hajara	PROPN
gujaf-145	155	2	,	,	PUNCT
gujaf-145	155	3	(	(	PUNCT
gujaf-145	155	4	2015	2015	NUM
gujaf-145	155	5	)	)	PUNCT
gujaf-145	155	6	;	;	PUNCT
gujaf-145	155	7	yang	yang	PROPN
gujaf-145	155	8	,	,	PUNCT
gujaf-145	155	9	chun	chun	PROPN
gujaf-145	155	10	and	and	CCONJ
gujaf-145	155	11	ramadili	ramadili	NOUN
gujaf-145	155	12	(	(	PUNCT
gujaf-145	155	13	2009	2009	NUM
gujaf-145	155	14	)	)	PUNCT
gujaf-145	155	15	.	.	PUNCT
gujaf-145	156	1	10	10	NUM
gujaf-145	157	1	the	the	DET
gujaf-145	157	2	total	total	ADJ
gujaf-145	157	3	shares	share	NOUN
gujaf-145	157	4	outstanding	outstanding	ADJ
gujaf-145	157	5	.	.	PUNCT
gujaf-145	158	1	source	source	NOUN
gujaf-145	158	2	:	:	PUNCT
gujaf-145	158	3	compiled	compile	VERB
gujaf-145	158	4	from	from	ADP
gujaf-145	158	5	prior	prior	ADJ
gujaf-145	158	6	literature	literature	NOUN
gujaf-145	158	7	by	by	ADP
gujaf-145	158	8	the	the	DET
gujaf-145	158	9	researchers	researcher	NOUN
gujaf-145	158	10	,	,	PUNCT
gujaf-145	158	11	2022	2022	NUM
gujaf-145	158	12	.	.	PUNCT
gujaf-145	159	1	4	4	NUM
gujaf-145	159	2	.	.	NOUN
gujaf-145	159	3	results	result	NOUN
gujaf-145	159	4	and	and	CCONJ
gujaf-145	159	5	discussions	discussion	NOUN
gujaf-145	159	6	descriptive	descriptive	ADJ
gujaf-145	159	7	statistics	statistic	NOUN
gujaf-145	159	8	this	this	DET
gujaf-145	159	9	section	section	NOUN
gujaf-145	159	10	describes	describe	VERB
gujaf-145	159	11	the	the	DET
gujaf-145	159	12	variables	variable	NOUN
gujaf-145	159	13	'	'	PART
gujaf-145	159	14	properties	property	NOUN
gujaf-145	159	15	,	,	PUNCT
gujaf-145	159	16	encompassing	encompass	VERB
gujaf-145	159	17	each	each	DET
gujaf-145	159	18	variable	variable	NOUN
gujaf-145	159	19	's	's	PART
gujaf-145	159	20	mean	mean	NOUN
gujaf-145	159	21	as	as	ADV
gujaf-145	159	22	well	well	ADV
gujaf-145	159	23	as	as	ADP
gujaf-145	159	24	its	its	PRON
gujaf-145	159	25	minimum	minimum	ADJ
gujaf-145	159	26	,	,	PUNCT
gujaf-145	159	27	maximum	maximum	ADJ
gujaf-145	159	28	,	,	PUNCT
gujaf-145	159	29	and	and	CCONJ
gujaf-145	159	30	standard	standard	ADJ
gujaf-145	159	31	deviation	deviation	NOUN
gujaf-145	159	32	.	.	PUNCT
gujaf-145	160	1	the	the	DET
gujaf-145	160	2	descriptive	descriptive	ADJ
gujaf-145	160	3	statistics	statistic	NOUN
gujaf-145	160	4	for	for	ADP
gujaf-145	160	5	the	the	DET
gujaf-145	160	6	variables	variable	NOUN
gujaf-145	160	7	are	be	AUX
gujaf-145	160	8	listed	list	VERB
gujaf-145	160	9	in	in	ADP
gujaf-145	160	10	the	the	DET
gujaf-145	160	11	table	table	NOUN
gujaf-145	160	12	.	.	PUNCT
gujaf-145	161	1	table	table	NOUN
gujaf-145	161	2	4.1	4.1	NUM
gujaf-145	161	3	descriptive	descriptive	ADJ
gujaf-145	161	4	statistics	statistic	NOUN
gujaf-145	161	5	variables	variable	NOUN
gujaf-145	161	6	obs	obs	PROPN
gujaf-145	161	7	mean	mean	VERB
gujaf-145	161	8	std	std	NOUN
gujaf-145	161	9	dev	dev	PROPN
gujaf-145	161	10	min	min	PROPN
gujaf-145	161	11	max	max	PROPN
gujaf-145	161	12	sr	sr	PROPN
gujaf-145	161	13	160	160	NUM
gujaf-145	161	14	84.73062	84.73062	NUM
gujaf-145	161	15	264.197	264.197	NUM
gujaf-145	161	16	17	17	NUM
gujaf-145	161	17	1485	1485	NUM
gujaf-145	161	18	oc	oc	ADP
gujaf-145	161	19	160	160	NUM
gujaf-145	161	20	.5958285	.5958285	PUNCT
gujaf-145	161	21	.1879737	.1879737	PROPN
gujaf-145	161	22	.01	.01	NUM
gujaf-145	161	23	.861	.861	NUM
gujaf-145	161	24	mo	mo	PROPN
gujaf-145	161	25	160	160	NUM
gujaf-145	161	26	.0559345	.0559345	PUNCT
gujaf-145	162	1	.0400227	.0400227	PROPN
gujaf-145	162	2	.001	.001	NUM
gujaf-145	162	3	.168	.168	NUM
gujaf-145	163	1	io	io	PROPN
gujaf-145	163	2	160	160	NUM
gujaf-145	163	3	.1894311	.1894311	PROPN
gujaf-145	163	4	.0703284	.0703284	PROPN
gujaf-145	163	5	.092	.092	NUM
gujaf-145	163	6	.392	.392	NUM
gujaf-145	163	7	source	source	NOUN
gujaf-145	163	8	:	:	PUNCT
gujaf-145	163	9	stata	stata	NOUN
gujaf-145	163	10	output	output	NOUN
gujaf-145	163	11	,	,	PUNCT
gujaf-145	163	12	2022	2022	NUM
gujaf-145	163	13	.	.	PUNCT
gujaf-145	164	1	the	the	DET
gujaf-145	164	2	data	datum	NOUN
gujaf-145	164	3	in	in	ADP
gujaf-145	164	4	the	the	DET
gujaf-145	164	5	table	table	NOUN
gujaf-145	164	6	demonstrates	demonstrate	VERB
gujaf-145	164	7	that	that	SCONJ
gujaf-145	164	8	the	the	DET
gujaf-145	164	9	share	share	NOUN
gujaf-145	164	10	return	return	NOUN
gujaf-145	164	11	(	(	PUNCT
gujaf-145	164	12	sr	sr	PROPN
gujaf-145	164	13	)	)	PUNCT
gujaf-145	164	14	measure	measure	NOUN
gujaf-145	164	15	,	,	PUNCT
gujaf-145	164	16	which	which	PRON
gujaf-145	164	17	is	be	AUX
gujaf-145	164	18	the	the	DET
gujaf-145	164	19	opposite	opposite	NOUN
gujaf-145	164	20	of	of	ADP
gujaf-145	164	21	how	how	SCONJ
gujaf-145	164	22	share	share	NOUN
gujaf-145	164	23	prices	price	NOUN
gujaf-145	164	24	behave	behave	VERB
gujaf-145	164	25	for	for	ADP
gujaf-145	164	26	consumer	consumer	NOUN
gujaf-145	164	27	goods	good	NOUN
gujaf-145	164	28	companies	company	NOUN
gujaf-145	164	29	,	,	PUNCT
gujaf-145	164	30	has	have	VERB
gujaf-145	164	31	an	an	DET
gujaf-145	164	32	average	average	ADJ
gujaf-145	164	33	value	value	NOUN
gujaf-145	164	34	of	of	ADP
gujaf-145	164	35	84.73062	84.73062	NUM
gujaf-145	164	36	and	and	CCONJ
gujaf-145	164	37	a	a	DET
gujaf-145	164	38	standard	standard	ADJ
gujaf-145	164	39	deviation	deviation	NOUN
gujaf-145	164	40	of	of	ADP
gujaf-145	164	41	264.197	264.197	NUM
gujaf-145	164	42	.	.	PUNCT
gujaf-145	165	1	this	this	PRON
gujaf-145	165	2	suggests	suggest	VERB
gujaf-145	165	3	that	that	SCONJ
gujaf-145	165	4	there	there	PRON
gujaf-145	165	5	are	be	VERB
gujaf-145	165	6	significant	significant	ADJ
gujaf-145	165	7	differences	difference	NOUN
gujaf-145	165	8	in	in	ADP
gujaf-145	165	9	the	the	DET
gujaf-145	165	10	deviation	deviation	NOUN
gujaf-145	165	11	between	between	ADP
gujaf-145	165	12	companies	company	NOUN
gujaf-145	165	13	over	over	ADP
gujaf-145	165	14	the	the	DET
gujaf-145	165	15	period	period	NOUN
gujaf-145	165	16	.	.	PUNCT
gujaf-145	166	1	in	in	ADP
gujaf-145	166	2	addition	addition	NOUN
gujaf-145	166	3	,	,	PUNCT
gujaf-145	166	4	the	the	DET
gujaf-145	166	5	values	value	NOUN
gujaf-145	166	6	ranged	range	VERB
gujaf-145	166	7	from	from	ADP
gujaf-145	166	8	17	17	NUM
gujaf-145	166	9	to	to	ADP
gujaf-145	166	10	1485	1485	NUM
gujaf-145	166	11	,	,	PUNCT
gujaf-145	166	12	respectively	respectively	ADV
gujaf-145	166	13	.	.	PUNCT
gujaf-145	167	1	the	the	DET
gujaf-145	167	2	returns	return	NOUN
gujaf-145	167	3	on	on	ADP
gujaf-145	167	4	the	the	DET
gujaf-145	167	5	companies	company	NOUN
gujaf-145	167	6	'	'	PART
gujaf-145	167	7	stocks	stock	NOUN
gujaf-145	167	8	vary	vary	VERB
gujaf-145	167	9	greatly	greatly	ADV
gujaf-145	167	10	from	from	ADP
gujaf-145	167	11	year	year	NOUN
gujaf-145	167	12	to	to	ADP
gujaf-145	167	13	year	year	NOUN
gujaf-145	167	14	.	.	PUNCT
gujaf-145	168	1	the	the	DET
gujaf-145	168	2	descriptive	descriptive	ADJ
gujaf-145	168	3	statistics	statistic	NOUN
gujaf-145	168	4	in	in	ADP
gujaf-145	168	5	the	the	DET
gujaf-145	168	6	table	table	NOUN
gujaf-145	168	7	show	show	VERB
gujaf-145	168	8	that	that	SCONJ
gujaf-145	168	9	ownership	ownership	NOUN
gujaf-145	168	10	concentration	concentration	NOUN
gujaf-145	168	11	has	have	VERB
gujaf-145	168	12	a	a	DET
gujaf-145	168	13	mean	mean	ADJ
gujaf-145	168	14	value	value	NOUN
gujaf-145	168	15	of.5958285	of.5958285	PROPN
gujaf-145	168	16	and	and	CCONJ
gujaf-145	168	17	a	a	DET
gujaf-145	168	18	standard	standard	ADJ
gujaf-145	168	19	deviation	deviation	NOUN
gujaf-145	168	20	of.1879737	of.1879737	VERB
gujaf-145	168	21	on	on	ADP
gujaf-145	168	22	average	average	ADJ
gujaf-145	168	23	.	.	PUNCT
gujaf-145	169	1	the	the	DET
gujaf-145	169	2	value	value	NOUN
gujaf-145	169	3	of	of	ADP
gujaf-145	169	4	the	the	DET
gujaf-145	169	5	standard	standard	ADJ
gujaf-145	169	6	deviation	deviation	NOUN
gujaf-145	169	7	confirms	confirm	VERB
gujaf-145	169	8	that	that	SCONJ
gujaf-145	169	9	an	an	DET
gujaf-145	169	10	average	average	NOUN
gujaf-145	169	11	of	of	ADP
gujaf-145	169	12	59	59	NUM
gujaf-145	169	13	percent	percent	NOUN
gujaf-145	169	14	of	of	ADP
gujaf-145	169	15	the	the	DET
gujaf-145	169	16	firms	firm	NOUN
gujaf-145	169	17	under	under	ADP
gujaf-145	169	18	study	study	NOUN
gujaf-145	169	19	have	have	VERB
gujaf-145	169	20	concentrated	concentrate	VERB
gujaf-145	169	21	owners	owner	NOUN
gujaf-145	169	22	in	in	ADP
gujaf-145	169	23	their	their	PRON
gujaf-145	169	24	ownership	ownership	NOUN
gujaf-145	169	25	structure	structure	NOUN
gujaf-145	169	26	.	.	PUNCT
gujaf-145	170	1	the	the	DET
gujaf-145	170	2	lowest	low	ADJ
gujaf-145	170	3	percentage	percentage	NOUN
gujaf-145	170	4	is	be	AUX
gujaf-145	170	5	1	1	NUM
gujaf-145	170	6	%	%	NOUN
gujaf-145	170	7	,	,	PUNCT
gujaf-145	170	8	while	while	SCONJ
gujaf-145	170	9	the	the	DET
gujaf-145	170	10	highest	high	ADJ
gujaf-145	170	11	percentage	percentage	NOUN
gujaf-145	170	12	is	be	AUX
gujaf-145	170	13	86	86	NUM
gujaf-145	170	14	%	%	NOUN
gujaf-145	170	15	.	.	PUNCT
gujaf-145	171	1	the	the	DET
gujaf-145	171	2	table	table	NOUN
gujaf-145	171	3	also	also	ADV
gujaf-145	171	4	shows	show	VERB
gujaf-145	171	5	that	that	SCONJ
gujaf-145	171	6	during	during	ADP
gujaf-145	171	7	the	the	DET
gujaf-145	171	8	study	study	NOUN
gujaf-145	171	9	period	period	NOUN
gujaf-145	171	10	,	,	PUNCT
gujaf-145	171	11	the	the	DET
gujaf-145	171	12	average	average	ADJ
gujaf-145	171	13	managerial	managerial	ADJ
gujaf-145	171	14	ownership	ownership	NOUN
gujaf-145	171	15	of	of	ADP
gujaf-145	171	16	the	the	DET
gujaf-145	171	17	sampled	sample	VERB
gujaf-145	171	18	consumer	consumer	NOUN
gujaf-145	171	19	goods	good	NOUN
gujaf-145	171	20	firms	firm	NOUN
gujaf-145	171	21	was.0559345	was.0559345	PRON
gujaf-145	171	22	with	with	ADP
gujaf-145	171	23	a	a	DET
gujaf-145	171	24	standard	standard	ADJ
gujaf-145	171	25	deviation	deviation	NOUN
gujaf-145	171	26	of.0400227	of.0400227	PROPN
gujaf-145	171	27	.	.	PUNCT
gujaf-145	172	1	this	this	PRON
gujaf-145	172	2	means	mean	VERB
gujaf-145	172	3	that	that	SCONJ
gujaf-145	172	4	an	an	DET
gujaf-145	172	5	average	average	NOUN
gujaf-145	172	6	of	of	ADP
gujaf-145	172	7	5	5	NUM
gujaf-145	172	8	%	%	NOUN
gujaf-145	172	9	of	of	ADP
gujaf-145	172	10	consumer	consumer	NOUN
gujaf-145	172	11	goods	good	NOUN
gujaf-145	172	12	firms	firm	NOUN
gujaf-145	172	13	in	in	ADP
gujaf-145	172	14	nigeria	nigeria	PROPN
gujaf-145	172	15	have	have	VERB
gujaf-145	172	16	top	top	ADJ
gujaf-145	172	17	-	-	PUNCT
gujaf-145	172	18	level	level	NOUN
gujaf-145	172	19	executives	executive	NOUN
gujaf-145	172	20	who	who	PRON
gujaf-145	172	21	are	be	AUX
gujaf-145	172	22	also	also	ADV
gujaf-145	172	23	shareholders	shareholder	NOUN
gujaf-145	172	24	.	.	PUNCT
gujaf-145	173	1	the	the	DET
gujaf-145	173	2	standard	standard	ADJ
gujaf-145	173	3	deviation	deviation	NOUN
gujaf-145	173	4	confirms	confirm	VERB
gujaf-145	173	5	this	this	DET
gujaf-145	173	6	assertion	assertion	NOUN
gujaf-145	173	7	,	,	PUNCT
gujaf-145	173	8	indicating	indicate	VERB
gujaf-145	173	9	that	that	SCONJ
gujaf-145	173	10	the	the	DET
gujaf-145	173	11	data	data	NOUN
gujaf-145	173	12	is	be	AUX
gujaf-145	173	13	distributed	distribute	VERB
gujaf-145	173	14	around	around	ADP
gujaf-145	173	15	the	the	DET
gujaf-145	173	16	mean	mean	NOUN
gujaf-145	173	17	.	.	PUNCT
gujaf-145	174	1	the	the	DET
gujaf-145	174	2	lowest	low	ADJ
gujaf-145	174	3	and	and	CCONJ
gujaf-145	174	4	highest	high	ADJ
gujaf-145	174	5	values	value	NOUN
gujaf-145	174	6	are.01	are.01	X
gujaf-145	174	7	and	and	CCONJ
gujaf-145	174	8	0.168	0.168	NUM
gujaf-145	174	9	,	,	PUNCT
gujaf-145	174	10	respectively	respectively	ADV
gujaf-145	174	11	.	.	PUNCT
gujaf-145	175	1	the	the	DET
gujaf-145	175	2	highest	high	ADJ
gujaf-145	175	3	figure	figure	NOUN
gujaf-145	175	4	implies	imply	VERB
gujaf-145	175	5	that	that	SCONJ
gujaf-145	175	6	only	only	ADV
gujaf-145	175	7	16	16	NUM
gujaf-145	175	8	%	%	NOUN
gujaf-145	175	9	of	of	ADP
gujaf-145	175	10	companies	company	NOUN
gujaf-145	175	11	have	have	VERB
gujaf-145	175	12	managerial	managerial	ADJ
gujaf-145	175	13	shareholders	shareholder	NOUN
gujaf-145	175	14	.	.	PUNCT
gujaf-145	176	1	the	the	DET
gujaf-145	176	2	table	table	NOUN
gujaf-145	176	3	's	's	PART
gujaf-145	176	4	descriptive	descriptive	ADJ
gujaf-145	176	5	statistics	statistic	NOUN
gujaf-145	176	6	show	show	VERB
gujaf-145	176	7	a	a	DET
gujaf-145	176	8	mean	mean	ADJ
gujaf-145	176	9	value	value	NOUN
gujaf-145	176	10	of.1894311	of.1894311	NOUN
gujaf-145	176	11	and	and	CCONJ
gujaf-145	176	12	a	a	DET
gujaf-145	176	13	standard	standard	ADJ
gujaf-145	176	14	deviation	deviation	NOUN
gujaf-145	176	15	11	11	NUM
gujaf-145	176	16	of	of	ADP
gujaf-145	176	17	0.073284	0.073284	NUM
gujaf-145	176	18	.	.	PUNCT
gujaf-145	177	1	this	this	PRON
gujaf-145	177	2	means	mean	VERB
gujaf-145	177	3	that	that	SCONJ
gujaf-145	177	4	,	,	PUNCT
gujaf-145	177	5	on	on	ADP
gujaf-145	177	6	average	average	ADJ
gujaf-145	177	7	,	,	PUNCT
gujaf-145	177	8	19	19	NUM
gujaf-145	177	9	%	%	NOUN
gujaf-145	177	10	of	of	ADP
gujaf-145	177	11	companies	company	NOUN
gujaf-145	177	12	had	have	VERB
gujaf-145	177	13	institutional	institutional	ADJ
gujaf-145	177	14	investors	investor	NOUN
gujaf-145	177	15	during	during	ADP
gujaf-145	177	16	the	the	DET
gujaf-145	177	17	study	study	NOUN
gujaf-145	177	18	period	period	NOUN
gujaf-145	177	19	.	.	PUNCT
gujaf-145	178	1	however	however	ADV
gujaf-145	178	2	,	,	PUNCT
gujaf-145	178	3	the	the	DET
gujaf-145	178	4	standard	standard	ADJ
gujaf-145	178	5	deviation	deviation	NOUN
gujaf-145	178	6	value	value	NOUN
gujaf-145	178	7	,	,	PUNCT
gujaf-145	178	8	which	which	PRON
gujaf-145	178	9	is	be	AUX
gujaf-145	178	10	far	far	ADV
gujaf-145	178	11	from	from	ADP
gujaf-145	178	12	the	the	DET
gujaf-145	178	13	mean	mean	NOUN
gujaf-145	178	14	,	,	PUNCT
gujaf-145	178	15	indicates	indicate	VERB
gujaf-145	178	16	that	that	SCONJ
gujaf-145	178	17	there	there	PRON
gujaf-145	178	18	are	be	VERB
gujaf-145	178	19	significant	significant	ADJ
gujaf-145	178	20	differences	difference	NOUN
gujaf-145	178	21	in	in	ADP
gujaf-145	178	22	the	the	DET
gujaf-145	178	23	level	level	NOUN
gujaf-145	178	24	of	of	ADP
gujaf-145	178	25	institutional	institutional	ADJ
gujaf-145	178	26	ownership	ownership	NOUN
gujaf-145	178	27	among	among	ADP
gujaf-145	178	28	the	the	DET
gujaf-145	178	29	sampled	sample	VERB
gujaf-145	178	30	firms	firm	NOUN
gujaf-145	178	31	.	.	PUNCT
gujaf-145	179	1	the	the	DET
gujaf-145	179	2	minimum	minimum	ADJ
gujaf-145	179	3	and	and	CCONJ
gujaf-145	179	4	maximum	maximum	ADJ
gujaf-145	179	5	institutional	institutional	ADJ
gujaf-145	179	6	ownership	ownership	NOUN
gujaf-145	179	7	values	value	NOUN
gujaf-145	179	8	are	be	AUX
gujaf-145	179	9	0	0	NUM
gujaf-145	179	10	and	and	CCONJ
gujaf-145	179	11	0.33333	0.33333	NUM
gujaf-145	179	12	,	,	PUNCT
gujaf-145	179	13	respectively	respectively	ADV
gujaf-145	179	14	.	.	PUNCT
gujaf-145	180	1	this	this	PRON
gujaf-145	180	2	means	mean	VERB
gujaf-145	180	3	that	that	SCONJ
gujaf-145	180	4	the	the	DET
gujaf-145	180	5	highest	high	ADJ
gujaf-145	180	6	proportion	proportion	NOUN
gujaf-145	180	7	of	of	ADP
gujaf-145	180	8	institutional	institutional	ADJ
gujaf-145	180	9	owners	owner	NOUN
gujaf-145	180	10	is	be	AUX
gujaf-145	180	11	39	39	NUM
gujaf-145	180	12	%	%	NOUN
gujaf-145	180	13	.	.	PUNCT
gujaf-145	181	1	the	the	DET
gujaf-145	181	2	table	table	NOUN
gujaf-145	181	3	also	also	ADV
gujaf-145	181	4	shows	show	VERB
gujaf-145	181	5	that	that	SCONJ
gujaf-145	181	6	during	during	ADP
gujaf-145	181	7	the	the	DET
gujaf-145	181	8	study	study	NOUN
gujaf-145	181	9	period	period	NOUN
gujaf-145	181	10	,	,	PUNCT
gujaf-145	181	11	the	the	DET
gujaf-145	181	12	sampled	sample	VERB
gujaf-145	181	13	consumer	consumer	NOUN
gujaf-145	181	14	goods	good	NOUN
gujaf-145	181	15	firms	firm	NOUN
gujaf-145	181	16	in	in	ADP
gujaf-145	181	17	nigeria	nigeria	PROPN
gujaf-145	181	18	had	have	VERB
gujaf-145	181	19	an	an	DET
gujaf-145	181	20	average	average	ADJ
gujaf-145	181	21	of.1337542	of.1337542	ADJ
gujaf-145	181	22	independent	independent	ADJ
gujaf-145	181	23	directors	director	NOUN
gujaf-145	181	24	on	on	ADP
gujaf-145	181	25	their	their	PRON
gujaf-145	181	26	boards	board	NOUN
gujaf-145	181	27	of	of	ADP
gujaf-145	181	28	directors	director	NOUN
gujaf-145	181	29	,	,	PUNCT
gujaf-145	181	30	with	with	ADP
gujaf-145	181	31	a	a	DET
gujaf-145	181	32	standard	standard	ADJ
gujaf-145	181	33	deviation	deviation	NOUN
gujaf-145	181	34	of.069604	of.069604	PROPN
gujaf-145	181	35	.	.	PUNCT
gujaf-145	182	1	this	this	PRON
gujaf-145	182	2	suggests	suggest	VERB
gujaf-145	182	3	that	that	SCONJ
gujaf-145	182	4	an	an	DET
gujaf-145	182	5	average	average	NOUN
gujaf-145	182	6	of	of	ADP
gujaf-145	182	7	13	13	NUM
gujaf-145	182	8	%	%	NOUN
gujaf-145	182	9	of	of	ADP
gujaf-145	182	10	directors	director	NOUN
gujaf-145	182	11	are	be	AUX
gujaf-145	182	12	independent	independent	ADJ
gujaf-145	182	13	.	.	PUNCT
gujaf-145	183	1	this	this	PRON
gujaf-145	183	2	is	be	AUX
gujaf-145	183	3	supported	support	VERB
gujaf-145	183	4	by	by	ADP
gujaf-145	183	5	the	the	DET
gujaf-145	183	6	fact	fact	NOUN
gujaf-145	183	7	that	that	SCONJ
gujaf-145	183	8	the	the	DET
gujaf-145	183	9	standard	standard	ADJ
gujaf-145	183	10	deviation	deviation	NOUN
gujaf-145	183	11	is	be	AUX
gujaf-145	183	12	close	close	ADJ
gujaf-145	183	13	to	to	ADP
gujaf-145	183	14	the	the	DET
gujaf-145	183	15	mean	mean	NOUN
gujaf-145	183	16	.	.	PUNCT
gujaf-145	184	1	meanwhile	meanwhile	ADV
gujaf-145	184	2	,	,	PUNCT
gujaf-145	184	3	the	the	DET
gujaf-145	184	4	minimum	minimum	ADJ
gujaf-145	184	5	and	and	CCONJ
gujaf-145	184	6	maximum	maximum	ADJ
gujaf-145	184	7	values	value	NOUN
gujaf-145	184	8	stood	stand	VERB
gujaf-145	184	9	at	at	ADP
gujaf-145	184	10	0	0	NUM
gujaf-145	184	11	%	%	NOUN
gujaf-145	184	12	and	and	CCONJ
gujaf-145	184	13	33	33	NUM
gujaf-145	184	14	%	%	NOUN
gujaf-145	184	15	,	,	PUNCT
gujaf-145	184	16	respectively	respectively	ADV
gujaf-145	184	17	.	.	PUNCT
gujaf-145	185	1	matrix	matrix	NOUN
gujaf-145	185	2	of	of	ADP
gujaf-145	185	3	correlation	correlation	NOUN
gujaf-145	185	4	the	the	DET
gujaf-145	185	5	pearson	pearson	PROPN
gujaf-145	185	6	correlation	correlation	NOUN
gujaf-145	185	7	analysis	analysis	NOUN
gujaf-145	185	8	matrix	matrix	NOUN
gujaf-145	185	9	depicts	depict	VERB
gujaf-145	185	10	the	the	DET
gujaf-145	185	11	relationship	relationship	NOUN
gujaf-145	185	12	between	between	ADP
gujaf-145	185	13	the	the	DET
gujaf-145	185	14	explanatory	explanatory	ADJ
gujaf-145	185	15	and	and	CCONJ
gujaf-145	185	16	explained	explain	VERB
gujaf-145	185	17	variables	variable	NOUN
gujaf-145	185	18	,	,	PUNCT
gujaf-145	185	19	as	as	ADV
gujaf-145	185	20	well	well	ADV
gujaf-145	185	21	as	as	ADP
gujaf-145	185	22	the	the	DET
gujaf-145	185	23	relationship	relationship	NOUN
gujaf-145	185	24	between	between	ADP
gujaf-145	185	25	each	each	DET
gujaf-145	185	26	pair	pair	NOUN
gujaf-145	185	27	of	of	ADP
gujaf-145	185	28	independent	independent	ADJ
gujaf-145	185	29	variables	variable	NOUN
gujaf-145	185	30	.	.	PUNCT
gujaf-145	186	1	it	it	PRON
gujaf-145	186	2	is	be	AUX
gujaf-145	186	3	useful	useful	ADJ
gujaf-145	186	4	in	in	ADP
gujaf-145	186	5	determining	determine	VERB
gujaf-145	186	6	the	the	DET
gujaf-145	186	7	degree	degree	NOUN
gujaf-145	186	8	or	or	CCONJ
gujaf-145	186	9	extent	extent	NOUN
gujaf-145	186	10	of	of	ADP
gujaf-145	186	11	relationship	relationship	NOUN
gujaf-145	186	12	between	between	ADP
gujaf-145	186	13	all	all	DET
gujaf-145	186	14	independent	independent	ADJ
gujaf-145	186	15	variables	variable	NOUN
gujaf-145	186	16	,	,	PUNCT
gujaf-145	186	17	because	because	SCONJ
gujaf-145	186	18	excessive	excessive	ADJ
gujaf-145	186	19	correlation	correlation	NOUN
gujaf-145	186	20	can	can	AUX
gujaf-145	186	21	lead	lead	VERB
gujaf-145	186	22	to	to	ADP
gujaf-145	186	23	multicollinearity	multicollinearity	NOUN
gujaf-145	186	24	,	,	PUNCT
gujaf-145	186	25	which	which	PRON
gujaf-145	186	26	can	can	AUX
gujaf-145	186	27	lead	lead	VERB
gujaf-145	186	28	to	to	ADP
gujaf-145	186	29	misleading	mislead	VERB
gujaf-145	186	30	findings	finding	NOUN
gujaf-145	186	31	and	and	CCONJ
gujaf-145	186	32	conclusions	conclusion	NOUN
gujaf-145	186	33	.	.	PUNCT
gujaf-145	187	1	although	although	SCONJ
gujaf-145	187	2	the	the	DET
gujaf-145	187	3	correlation	correlation	NOUN
gujaf-145	187	4	matrix	matrix	NOUN
gujaf-145	187	5	does	do	AUX
gujaf-145	187	6	not	not	PART
gujaf-145	187	7	allow	allow	VERB
gujaf-145	187	8	for	for	ADP
gujaf-145	187	9	statistical	statistical	ADJ
gujaf-145	187	10	inference	inference	NOUN
gujaf-145	187	11	,	,	PUNCT
gujaf-145	187	12	it	it	PRON
gujaf-145	187	13	is	be	AUX
gujaf-145	187	14	useful	useful	ADJ
gujaf-145	187	15	in	in	ADP
gujaf-145	187	16	determining	determine	VERB
gujaf-145	187	17	the	the	DET
gujaf-145	187	18	direction	direction	NOUN
gujaf-145	187	19	and	and	CCONJ
gujaf-145	187	20	extent	extent	NOUN
gujaf-145	187	21	of	of	ADP
gujaf-145	187	22	association	association	NOUN
gujaf-145	187	23	between	between	ADP
gujaf-145	187	24	the	the	DET
gujaf-145	187	25	variables	variable	NOUN
gujaf-145	187	26	.	.	PUNCT
gujaf-145	188	1	the	the	DET
gujaf-145	188	2	correlation	correlation	NOUN
gujaf-145	188	3	matrix	matrix	NOUN
gujaf-145	188	4	for	for	ADP
gujaf-145	188	5	all	all	DET
gujaf-145	188	6	variables	variable	NOUN
gujaf-145	188	7	is	be	AUX
gujaf-145	188	8	shown	show	VERB
gujaf-145	188	9	in	in	ADP
gujaf-145	188	10	table	table	NOUN
gujaf-145	188	11	2	2	NUM
gujaf-145	188	12	.	.	PUNCT
gujaf-145	188	13	table	table	NOUN
gujaf-145	188	14	4.2	4.2	NUM
gujaf-145	188	15	:	:	PUNCT
gujaf-145	188	16	correlation	correlation	NOUN
gujaf-145	188	17	matrix	matrix	NOUN
gujaf-145	188	18	variable	variable	NOUN
gujaf-145	188	19	sr	sr	PROPN
gujaf-145	188	20	fz	fz	PROPN
gujaf-145	188	21	fa	fa	PROPN
gujaf-145	188	22	prof	prof	PROPN
gujaf-145	188	23	oc	oc	PROPN
gujaf-145	188	24	mo	mo	PROPN
gujaf-145	188	25	io	io	PROPN
gujaf-145	188	26	sr	sr	PROPN
gujaf-145	188	27	1.0000	1.0000	NUM
gujaf-145	188	28	oc	oc	ADP
gujaf-145	188	29	0.2344	0.2344	NUM
gujaf-145	188	30	0.0662	0.0662	NUM
gujaf-145	188	31	-0.2215	-0.2215	NOUN
gujaf-145	188	32	0.1245	0.1245	NUM
gujaf-145	188	33	1.0000	1.0000	NUM
gujaf-145	188	34	mo	mo	PROPN
gujaf-145	188	35	-0.1972	-0.1972	PROPN
gujaf-145	188	36	0.3509	0.3509	NUM
gujaf-145	188	37	0.0424	0.0424	NUM
gujaf-145	188	38	0.3717	0.3717	NUM
gujaf-145	188	39	0.0044	0.0044	NUM
gujaf-145	188	40	1.0000	1.0000	NUM
gujaf-145	188	41	io	io	X
gujaf-145	188	42	0.2695	0.2695	NUM
gujaf-145	188	43	0.1183	0.1183	NUM
gujaf-145	188	44	0.3172	0.3172	NUM
gujaf-145	188	45	-0.0485	-0.0485	NOUN
gujaf-145	188	46	0.2259	0.2259	NUM
gujaf-145	188	47	-0.1536	-0.1536	NOUN
gujaf-145	188	48	1.0000	1.0000	NUM
gujaf-145	188	49	source	source	NOUN
gujaf-145	188	50	:	:	PUNCT
gujaf-145	188	51	stata	stata	NOUN
gujaf-145	188	52	output	output	NOUN
gujaf-145	188	53	,	,	PUNCT
gujaf-145	188	54	2022	2022	NUM
gujaf-145	188	55	on	on	ADP
gujaf-145	188	56	the	the	DET
gujaf-145	188	57	one	one	NUM
gujaf-145	188	58	hand	hand	NOUN
gujaf-145	188	59	,	,	PUNCT
gujaf-145	188	60	the	the	DET
gujaf-145	188	61	table	table	NOUN
gujaf-145	188	62	displays	display	VERB
gujaf-145	188	63	the	the	DET
gujaf-145	188	64	correlation	correlation	NOUN
gujaf-145	188	65	between	between	ADP
gujaf-145	188	66	the	the	DET
gujaf-145	188	67	independent	independent	ADJ
gujaf-145	188	68	variables	variable	NOUN
gujaf-145	188	69	themselves	themselves	PRON
gujaf-145	188	70	as	as	ADV
gujaf-145	188	71	well	well	ADV
gujaf-145	188	72	as	as	ADP
gujaf-145	188	73	the	the	DET
gujaf-145	188	74	correlation	correlation	NOUN
gujaf-145	188	75	between	between	ADP
gujaf-145	188	76	the	the	DET
gujaf-145	188	77	dependent	dependent	ADJ
gujaf-145	188	78	variable	variable	NOUN
gujaf-145	188	79	,	,	PUNCT
gujaf-145	188	80	sr	sr	PROPN
gujaf-145	188	81	,	,	PUNCT
gujaf-145	188	82	and	and	CCONJ
gujaf-145	188	83	the	the	DET
gujaf-145	188	84	independent	independent	ADJ
gujaf-145	188	85	variables	variable	NOUN
gujaf-145	188	86	,	,	PUNCT
gujaf-145	188	87	oc	oc	PROPN
gujaf-145	188	88	,	,	PUNCT
gujaf-145	188	89	mo	mo	NOUN
gujaf-145	188	90	,	,	PUNCT
gujaf-145	188	91	and	and	CCONJ
gujaf-145	188	92	io	io	NOUN
gujaf-145	188	93	.	.	PROPN
gujaf-145	188	94	in	in	ADP
gujaf-145	188	95	general	general	ADJ
gujaf-145	188	96	,	,	PUNCT
gujaf-145	188	97	it	it	PRON
gujaf-145	188	98	is	be	AUX
gujaf-145	188	99	anticipated	anticipate	VERB
gujaf-145	188	100	that	that	SCONJ
gujaf-145	188	101	there	there	PRON
gujaf-145	188	102	will	will	AUX
gujaf-145	188	103	be	be	AUX
gujaf-145	188	104	a	a	DET
gujaf-145	188	105	high	high	ADJ
gujaf-145	188	106	correlation	correlation	NOUN
gujaf-145	188	107	between	between	ADP
gujaf-145	188	108	the	the	DET
gujaf-145	188	109	dependent	dependent	ADJ
gujaf-145	188	110	and	and	CCONJ
gujaf-145	188	111	independent	independent	ADJ
gujaf-145	188	112	variables	variable	NOUN
gujaf-145	188	113	and	and	CCONJ
gujaf-145	188	114	a	a	DET
gujaf-145	188	115	low	low	ADJ
gujaf-145	188	116	correlation	correlation	NOUN
gujaf-145	188	117	between	between	ADP
gujaf-145	188	118	the	the	DET
gujaf-145	188	119	independent	independent	ADJ
gujaf-145	188	120	variables	variable	NOUN
gujaf-145	188	121	.	.	PUNCT
gujaf-145	189	1	gujarati	gujarati	PROPN
gujaf-145	189	2	(	(	PUNCT
gujaf-145	189	3	2004	2004	NUM
gujaf-145	189	4	)	)	PUNCT
gujaf-145	189	5	asserts	assert	VERB
gujaf-145	189	6	that	that	SCONJ
gujaf-145	189	7	a	a	DET
gujaf-145	189	8	correlation	correlation	NOUN
gujaf-145	189	9	coefficient	coefficient	NOUN
gujaf-145	189	10	of	of	ADP
gujaf-145	189	11	0.80	0.80	NUM
gujaf-145	189	12	or	or	CCONJ
gujaf-145	189	13	higher	high	ADJ
gujaf-145	189	14	between	between	ADP
gujaf-145	189	15	two	two	NUM
gujaf-145	189	16	independent	independent	ADJ
gujaf-145	189	17	variables	variable	NOUN
gujaf-145	189	18	is	be	AUX
gujaf-145	189	19	excessive	excessive	ADJ
gujaf-145	189	20	,	,	PUNCT
gujaf-145	189	21	and	and	CCONJ
gujaf-145	189	22	as	as	ADP
gujaf-145	189	23	a	a	DET
gujaf-145	189	24	result	result	NOUN
gujaf-145	189	25	,	,	PUNCT
gujaf-145	189	26	specific	specific	ADJ
gujaf-145	189	27	actions	action	NOUN
gujaf-145	189	28	are	be	AUX
gujaf-145	189	29	needed	need	VERB
gujaf-145	189	30	to	to	PART
gujaf-145	189	31	fix	fix	VERB
gujaf-145	189	32	that	that	PRON
gujaf-145	189	33	data	datum	NOUN
gujaf-145	189	34	anomaly	anomaly	NOUN
gujaf-145	189	35	.	.	PUNCT
gujaf-145	190	1	12	12	NUM
gujaf-145	190	2	the	the	DET
gujaf-145	190	3	correlation	correlation	NOUN
gujaf-145	190	4	coefficients	coefficient	NOUN
gujaf-145	190	5	between	between	ADP
gujaf-145	190	6	the	the	DET
gujaf-145	190	7	independent	independent	ADJ
gujaf-145	190	8	variables	variable	NOUN
gujaf-145	190	9	are	be	AUX
gujaf-145	190	10	all	all	ADV
gujaf-145	190	11	less	less	ADJ
gujaf-145	190	12	than	than	ADP
gujaf-145	190	13	0.80	0.80	NUM
gujaf-145	190	14	,	,	PUNCT
gujaf-145	190	15	as	as	SCONJ
gujaf-145	190	16	shown	show	VERB
gujaf-145	190	17	in	in	ADP
gujaf-145	190	18	the	the	DET
gujaf-145	190	19	table	table	NOUN
gujaf-145	190	20	.	.	PUNCT
gujaf-145	191	1	this	this	PRON
gujaf-145	191	2	suggests	suggest	VERB
gujaf-145	191	3	that	that	SCONJ
gujaf-145	191	4	multicollinearity	multicollinearity	NOUN
gujaf-145	191	5	is	be	AUX
gujaf-145	191	6	not	not	PART
gujaf-145	191	7	a	a	DET
gujaf-145	191	8	possibility	possibility	NOUN
gujaf-145	191	9	,	,	PUNCT
gujaf-145	191	10	but	but	CCONJ
gujaf-145	191	11	the	the	DET
gujaf-145	191	12	assumption	assumption	NOUN
gujaf-145	191	13	still	still	ADV
gujaf-145	191	14	needs	need	VERB
gujaf-145	191	15	to	to	PART
gujaf-145	191	16	be	be	AUX
gujaf-145	191	17	verified	verify	VERB
gujaf-145	191	18	using	use	VERB
gujaf-145	191	19	the	the	DET
gujaf-145	191	20	variance	variance	NOUN
gujaf-145	191	21	inflation	inflation	NOUN
gujaf-145	191	22	factor	factor	NOUN
gujaf-145	191	23	(	(	PUNCT
gujaf-145	191	24	vif	vif	NOUN
gujaf-145	191	25	)	)	PUNCT
gujaf-145	191	26	and	and	CCONJ
gujaf-145	191	27	tolerance	tolerance	NOUN
gujaf-145	191	28	value	value	NOUN
gujaf-145	191	29	(	(	PUNCT
gujaf-145	191	30	tv	tv	NOUN
gujaf-145	191	31	)	)	PUNCT
gujaf-145	191	32	tests	test	NOUN
gujaf-145	191	33	.	.	PUNCT
gujaf-145	192	1	the	the	DET
gujaf-145	192	2	ownership	ownership	NOUN
gujaf-145	192	3	concentration	concentration	NOUN
gujaf-145	192	4	and	and	CCONJ
gujaf-145	192	5	institutional	institutional	ADJ
gujaf-145	192	6	ownership	ownership	NOUN
gujaf-145	192	7	explanatory	explanatory	ADJ
gujaf-145	192	8	variables	variable	NOUN
gujaf-145	192	9	,	,	PUNCT
gujaf-145	192	10	which	which	PRON
gujaf-145	192	11	move	move	VERB
gujaf-145	192	12	in	in	ADP
gujaf-145	192	13	the	the	DET
gujaf-145	192	14	same	same	ADJ
gujaf-145	192	15	direction	direction	NOUN
gujaf-145	192	16	as	as	ADP
gujaf-145	192	17	stock	stock	NOUN
gujaf-145	192	18	returns	return	NOUN
gujaf-145	192	19	,	,	PUNCT
gujaf-145	192	20	are	be	AUX
gujaf-145	192	21	correlated	correlate	VERB
gujaf-145	192	22	positively	positively	ADV
gujaf-145	192	23	with	with	ADP
gujaf-145	192	24	the	the	DET
gujaf-145	192	25	dependent	dependent	ADJ
gujaf-145	192	26	variable	variable	ADJ
gujaf-145	192	27	stock	stock	NOUN
gujaf-145	192	28	returns	return	NOUN
gujaf-145	192	29	in	in	ADP
gujaf-145	192	30	the	the	DET
gujaf-145	192	31	table	table	NOUN
gujaf-145	192	32	.	.	PUNCT
gujaf-145	193	1	however	however	ADV
gujaf-145	193	2	,	,	PUNCT
gujaf-145	193	3	the	the	DET
gujaf-145	193	4	table	table	NOUN
gujaf-145	193	5	demonstrates	demonstrate	VERB
gujaf-145	193	6	a	a	DET
gujaf-145	193	7	-0.1972	-0.1972	NOUN
gujaf-145	193	8	-	-	PUNCT
gujaf-145	193	9	coefficient	coefficient	ADJ
gujaf-145	193	10	negative	negative	ADJ
gujaf-145	193	11	correlation	correlation	NOUN
gujaf-145	193	12	between	between	ADP
gujaf-145	193	13	managerial	managerial	ADJ
gujaf-145	193	14	ownership	ownership	NOUN
gujaf-145	193	15	and	and	CCONJ
gujaf-145	193	16	real	real	ADJ
gujaf-145	193	17	stock	stock	NOUN
gujaf-145	193	18	returns	return	NOUN
gujaf-145	193	19	.	.	PUNCT
gujaf-145	194	1	in	in	ADP
gujaf-145	194	2	other	other	ADJ
gujaf-145	194	3	words	word	NOUN
gujaf-145	194	4	,	,	PUNCT
gujaf-145	194	5	the	the	DET
gujaf-145	194	6	outcome	outcome	NOUN
gujaf-145	194	7	variable	variable	NOUN
gujaf-145	194	8	is	be	AUX
gujaf-145	194	9	moving	move	VERB
gujaf-145	194	10	in	in	ADP
gujaf-145	194	11	the	the	DET
gujaf-145	194	12	opposite	opposite	ADJ
gujaf-145	194	13	direction	direction	NOUN
gujaf-145	194	14	of	of	ADP
gujaf-145	194	15	the	the	DET
gujaf-145	194	16	explanatory	explanatory	ADJ
gujaf-145	194	17	variable	variable	NOUN
gujaf-145	194	18	.	.	PUNCT
gujaf-145	195	1	test	test	NOUN
gujaf-145	195	2	for	for	ADP
gujaf-145	195	3	multicollinearity	multicollinearity	NOUN
gujaf-145	195	4	lack	lack	NOUN
gujaf-145	195	5	of	of	ADP
gujaf-145	195	6	multicollinearity	multicollinearity	NOUN
gujaf-145	195	7	is	be	AUX
gujaf-145	195	8	a	a	DET
gujaf-145	195	9	fundamental	fundamental	ADJ
gujaf-145	195	10	premise	premise	NOUN
gujaf-145	195	11	of	of	ADP
gujaf-145	195	12	linear	linear	ADJ
gujaf-145	195	13	regression	regression	NOUN
gujaf-145	195	14	analysis	analysis	NOUN
gujaf-145	195	15	.	.	PUNCT
gujaf-145	196	1	multicollinearity	multicollinearity	NOUN
gujaf-145	196	2	happens	happen	VERB
gujaf-145	196	3	when	when	SCONJ
gujaf-145	196	4	the	the	DET
gujaf-145	196	5	explanatory	explanatory	ADJ
gujaf-145	196	6	variables	variable	NOUN
gujaf-145	196	7	are	be	AUX
gujaf-145	196	8	not	not	PART
gujaf-145	196	9	unrelated	unrelated	ADJ
gujaf-145	196	10	to	to	ADP
gujaf-145	196	11	one	one	NUM
gujaf-145	196	12	another	another	DET
gujaf-145	196	13	.	.	PUNCT
gujaf-145	197	1	to	to	PART
gujaf-145	197	2	test	test	VERB
gujaf-145	197	3	for	for	ADP
gujaf-145	197	4	multicollinearity	multicollinearity	NOUN
gujaf-145	197	5	,	,	PUNCT
gujaf-145	197	6	tolerance	tolerance	NOUN
gujaf-145	197	7	and	and	CCONJ
gujaf-145	197	8	variance	variance	NOUN
gujaf-145	197	9	inflation	inflation	NOUN
gujaf-145	197	10	factor	factor	NOUN
gujaf-145	197	11	(	(	PUNCT
gujaf-145	197	12	vif	vif	NOUN
gujaf-145	197	13	)	)	PUNCT
gujaf-145	197	14	values	value	NOUN
gujaf-145	197	15	are	be	AUX
gujaf-145	197	16	used	use	VERB
gujaf-145	197	17	.	.	PUNCT
gujaf-145	198	1	the	the	DET
gujaf-145	198	2	table	table	NOUN
gujaf-145	198	3	below	below	ADP
gujaf-145	198	4	displays	display	VERB
gujaf-145	198	5	the	the	DET
gujaf-145	198	6	results	result	NOUN
gujaf-145	198	7	of	of	ADP
gujaf-145	198	8	the	the	DET
gujaf-145	198	9	multicollinearity	multicollinearity	NOUN
gujaf-145	198	10	test	test	NOUN
gujaf-145	198	11	.	.	PUNCT
gujaf-145	199	1	tolerance	tolerance	NOUN
gujaf-145	199	2	and	and	CCONJ
gujaf-145	199	3	vif	vif	NOUN
gujaf-145	199	4	values	value	NOUN
gujaf-145	199	5	variable	variable	ADJ
gujaf-145	199	6	vif	vif	NOUN
gujaf-145	199	7	1	1	NUM
gujaf-145	199	8	/	/	SYM
gujaf-145	199	9	vif	vif	NOUN
gujaf-145	199	10	oc	oc	ADP
gujaf-145	199	11	1.40	1.40	NUM
gujaf-145	199	12	0.714286	0.714286	NUM
gujaf-145	199	13	mo	mo	PROPN
gujaf-145	199	14	1.77	1.77	NUM
gujaf-145	199	15	0.564972	0.564972	NUM
gujaf-145	199	16	io	io	X
gujaf-145	199	17	1.76	1.76	NUM
gujaf-145	199	18	0.568182	0.568182	NUM
gujaf-145	199	19	mean	mean	NOUN
gujaf-145	199	20	vif	vif	PROPN
gujaf-145	199	21	1.63	1.63	NUM
gujaf-145	199	22	source	source	NOUN
gujaf-145	199	23	:	:	PUNCT
gujaf-145	199	24	stata	stata	NOUN
gujaf-145	199	25	output	output	NOUN
gujaf-145	199	26	,	,	PUNCT
gujaf-145	199	27	2022	2022	NUM
gujaf-145	199	28	.	.	PUNCT
gujaf-145	200	1	it	it	PRON
gujaf-145	200	2	is	be	AUX
gujaf-145	200	3	possible	possible	ADJ
gujaf-145	200	4	to	to	PART
gujaf-145	200	5	draw	draw	VERB
gujaf-145	200	6	the	the	DET
gujaf-145	200	7	conclusion	conclusion	NOUN
gujaf-145	200	8	that	that	SCONJ
gujaf-145	200	9	there	there	PRON
gujaf-145	200	10	is	be	VERB
gujaf-145	200	11	no	no	DET
gujaf-145	200	12	multicollinearity	multicollinearity	NOUN
gujaf-145	200	13	issue	issue	NOUN
gujaf-145	200	14	based	base	VERB
gujaf-145	200	15	on	on	ADP
gujaf-145	200	16	the	the	DET
gujaf-145	200	17	data	datum	NOUN
gujaf-145	200	18	in	in	ADP
gujaf-145	200	19	the	the	DET
gujaf-145	200	20	table	table	NOUN
gujaf-145	200	21	.	.	PUNCT
gujaf-145	201	1	this	this	PRON
gujaf-145	201	2	is	be	AUX
gujaf-145	201	3	due	due	ADJ
gujaf-145	201	4	to	to	ADP
gujaf-145	201	5	the	the	DET
gujaf-145	201	6	fact	fact	NOUN
gujaf-145	201	7	that	that	SCONJ
gujaf-145	201	8	all	all	PRON
gujaf-145	201	9	of	of	ADP
gujaf-145	201	10	the	the	DET
gujaf-145	201	11	variables	variable	NOUN
gujaf-145	201	12	'	'	PART
gujaf-145	201	13	tolerance	tolerance	NOUN
gujaf-145	201	14	values	value	NOUN
gujaf-145	201	15	and	and	CCONJ
gujaf-145	201	16	vif	vif	NOUN
gujaf-145	201	17	values	value	NOUN
gujaf-145	201	18	are	be	AUX
gujaf-145	201	19	both	both	ADV
gujaf-145	201	20	greater	great	ADJ
gujaf-145	201	21	than	than	ADP
gujaf-145	201	22	0.10	0.10	NUM
gujaf-145	201	23	and	and	CCONJ
gujaf-145	201	24	less	less	ADJ
gujaf-145	201	25	than	than	ADP
gujaf-145	201	26	10	10	NUM
gujaf-145	201	27	,	,	PUNCT
gujaf-145	201	28	respectively	respectively	ADV
gujaf-145	201	29	.	.	PUNCT
gujaf-145	202	1	(	(	PUNCT
gujaf-145	202	2	generally	generally	ADV
gujaf-145	202	3	speaking	speak	VERB
gujaf-145	202	4	.	.	PUNCT
gujaf-145	202	5	)	)	PUNCT
gujaf-145	203	1	test	test	NOUN
gujaf-145	203	2	for	for	ADP
gujaf-145	203	3	heteroscedasticity	heteroscedasticity	NOUN
gujaf-145	203	4	this	this	DET
gujaf-145	203	5	test	test	NOUN
gujaf-145	203	6	was	be	AUX
gujaf-145	203	7	designed	design	VERB
gujaf-145	203	8	to	to	PART
gujaf-145	203	9	determine	determine	VERB
gujaf-145	203	10	whether	whether	SCONJ
gujaf-145	203	11	the	the	DET
gujaf-145	203	12	error	error	NOUN
gujaf-145	203	13	terms	term	NOUN
gujaf-145	203	14	'	'	PART
gujaf-145	203	15	variability	variability	NOUN
gujaf-145	203	16	is	be	AUX
gujaf-145	203	17	constant	constant	ADJ
gujaf-145	203	18	.	.	PUNCT
gujaf-145	204	1	inferences	inference	NOUN
gujaf-145	204	2	about	about	ADP
gujaf-145	204	3	the	the	DET
gujaf-145	204	4	study	study	NOUN
gujaf-145	204	5	's	's	PART
gujaf-145	204	6	beta	beta	ADJ
gujaf-145	204	7	coefficient	coefficient	NOUN
gujaf-145	204	8	,	,	PUNCT
gujaf-145	204	9	coefficient	coefficient	NOUN
gujaf-145	204	10	of	of	ADP
gujaf-145	204	11	determination	determination	NOUN
gujaf-145	204	12	(	(	PUNCT
gujaf-145	204	13	r2	r2	PROPN
gujaf-145	204	14	)	)	PUNCT
gujaf-145	204	15	,	,	PUNCT
gujaf-145	204	16	and	and	CCONJ
gujaf-145	204	17	f	f	X
gujaf-145	204	18	-	-	PUNCT
gujaf-145	204	19	statistic	statistic	NOUN
gujaf-145	204	20	can	can	AUX
gujaf-145	204	21	be	be	AUX
gujaf-145	204	22	affected	affect	VERB
gujaf-145	204	23	by	by	ADP
gujaf-145	204	24	heteroskedasticity	heteroskedasticity	NOUN
gujaf-145	204	25	,	,	PUNCT
gujaf-145	204	26	which	which	PRON
gujaf-145	204	27	is	be	AUX
gujaf-145	204	28	the	the	DET
gujaf-145	204	29	term	term	NOUN
gujaf-145	204	30	used	use	VERB
gujaf-145	204	31	to	to	PART
gujaf-145	204	32	describe	describe	VERB
gujaf-145	204	33	the	the	DET
gujaf-145	204	34	fact	fact	NOUN
gujaf-145	204	35	that	that	SCONJ
gujaf-145	204	36	the	the	DET
gujaf-145	204	37	variation	variation	NOUN
gujaf-145	204	38	of	of	ADP
gujaf-145	204	39	the	the	DET
gujaf-145	204	40	residuals	residual	NOUN
gujaf-145	204	41	or	or	CCONJ
gujaf-145	204	42	term	term	NOUN
gujaf-145	204	43	error	error	NOUN
gujaf-145	204	44	is	be	AUX
gujaf-145	204	45	not	not	PART
gujaf-145	204	46	constant	constant	ADJ
gujaf-145	204	47	.	.	PUNCT
gujaf-145	205	1	the	the	DET
gujaf-145	205	2	breusch	breusch	NOUN
gujaf-145	205	3	and	and	CCONJ
gujaf-145	205	4	pagan	pagan	NOUN
gujaf-145	205	5	's	's	PART
gujaf-145	205	6	tests	test	NOUN
gujaf-145	205	7	were	be	AUX
gujaf-145	205	8	used	use	VERB
gujaf-145	205	9	to	to	PART
gujaf-145	205	10	determine	determine	VERB
gujaf-145	205	11	the	the	DET
gujaf-145	205	12	heteroscetism	heteroscetism	NOUN
gujaf-145	205	13	.	.	PUNCT
gujaf-145	206	1	the	the	DET
gujaf-145	206	2	table	table	NOUN
gujaf-145	206	3	below	below	ADP
gujaf-145	206	4	lists	list	VERB
gujaf-145	206	5	the	the	DET
gujaf-145	206	6	outcomes	outcome	NOUN
gujaf-145	206	7	.	.	PUNCT
gujaf-145	207	1	table	table	NOUN
gujaf-145	207	2	test	test	NOUN
gujaf-145	207	3	for	for	ADP
gujaf-145	207	4	heteroscedasticity	heteroscedasticity	NOUN
gujaf-145	207	5	variable	variable	ADJ
gujaf-145	207	6	chi2	chi2	PROPN
gujaf-145	207	7	prob	prob	PROPN
gujaf-145	207	8	>	>	PROPN
gujaf-145	207	9	chi2	chi2	NOUN
gujaf-145	207	10	ownership	ownership	NOUN
gujaf-145	207	11	structure	structure	NOUN
gujaf-145	207	12	0.59	0.59	NUM
gujaf-145	207	13	0.0910	0.0910	NUM
gujaf-145	207	14	13	13	NUM
gujaf-145	207	15	source	source	NOUN
gujaf-145	207	16	:	:	PUNCT
gujaf-145	207	17	stata	stata	PROPN
gujaf-145	207	18	output	output	NOUN
gujaf-145	207	19	,	,	PUNCT
gujaf-145	207	20	2020	2020	NUM
gujaf-145	208	1	the	the	DET
gujaf-145	208	2	table	table	NOUN
gujaf-145	208	3	displays	display	VERB
gujaf-145	208	4	the	the	DET
gujaf-145	208	5	heteroscedasticity	heteroscedasticity	NOUN
gujaf-145	208	6	results	result	VERB
gujaf-145	208	7	for	for	ADP
gujaf-145	208	8	the	the	DET
gujaf-145	208	9	study	study	NOUN
gujaf-145	208	10	's	's	PART
gujaf-145	208	11	aggregated	aggregate	VERB
gujaf-145	208	12	variables	variable	NOUN
gujaf-145	208	13	.	.	PUNCT
gujaf-145	209	1	the	the	DET
gujaf-145	209	2	goodness	goodness	NOUN
gujaf-145	209	3	of	of	ADP
gujaf-145	209	4	fit	fit	ADJ
gujaf-145	209	5	test	test	NOUN
gujaf-145	209	6	,	,	PUNCT
gujaf-145	209	7	a	a	DET
gujaf-145	209	8	statistical	statistical	ADJ
gujaf-145	209	9	hypothesis	hypothesis	NOUN
gujaf-145	209	10	test	test	NOUN
gujaf-145	209	11	used	use	VERB
gujaf-145	209	12	to	to	PART
gujaf-145	209	13	determine	determine	VERB
gujaf-145	209	14	how	how	SCONJ
gujaf-145	209	15	well	well	ADV
gujaf-145	209	16	sample	sample	NOUN
gujaf-145	209	17	data	datum	NOUN
gujaf-145	209	18	fits	fit	VERB
gujaf-145	209	19	a	a	DET
gujaf-145	209	20	distribution	distribution	NOUN
gujaf-145	209	21	from	from	ADP
gujaf-145	209	22	a	a	DET
gujaf-145	209	23	population	population	NOUN
gujaf-145	209	24	with	with	ADP
gujaf-145	209	25	a	a	DET
gujaf-145	209	26	normal	normal	ADJ
gujaf-145	209	27	distribution	distribution	NOUN
gujaf-145	209	28	,	,	PUNCT
gujaf-145	209	29	yields	yield	VERB
gujaf-145	209	30	a	a	DET
gujaf-145	209	31	pearson	pearson	PROPN
gujaf-145	209	32	chi2	chi2	PROPN
gujaf-145	209	33	value	value	NOUN
gujaf-145	209	34	of	of	ADP
gujaf-145	209	35	0.59	0.59	NUM
gujaf-145	209	36	and	and	CCONJ
gujaf-145	209	37	a	a	DET
gujaf-145	209	38	probability	probability	NOUN
gujaf-145	209	39	of	of	ADP
gujaf-145	209	40	0.0910	0.0910	NUM
gujaf-145	209	41	.	.	PUNCT
gujaf-145	210	1	this	this	PRON
gujaf-145	210	2	indicates	indicate	VERB
gujaf-145	210	3	that	that	SCONJ
gujaf-145	210	4	the	the	DET
gujaf-145	210	5	model	model	NOUN
gujaf-145	210	6	's	's	PART
gujaf-145	210	7	adjustment	adjustment	NOUN
gujaf-145	210	8	of	of	ADP
gujaf-145	210	9	the	the	DET
gujaf-145	210	10	observed	observe	VERB
gujaf-145	210	11	problems	problem	NOUN
gujaf-145	210	12	is	be	AUX
gujaf-145	210	13	working	work	VERB
gujaf-145	210	14	properly	properly	ADV
gujaf-145	210	15	and	and	CCONJ
gujaf-145	210	16	that	that	SCONJ
gujaf-145	210	17	no	no	DET
gujaf-145	210	18	errors	error	NOUN
gujaf-145	210	19	exist	exist	VERB
gujaf-145	210	20	,	,	PUNCT
gujaf-145	210	21	highlighting	highlight	VERB
gujaf-145	210	22	the	the	DET
gujaf-145	210	23	model	model	NOUN
gujaf-145	210	24	's	's	PART
gujaf-145	210	25	overall	overall	ADJ
gujaf-145	210	26	fitness	fitness	PROPN
gujaf-145	210	27	.	.	PUNCT
gujaf-145	211	1	hausman	hausman	PROPN
gujaf-145	211	2	specification	specification	PROPN
gujaf-145	211	3	test	test	NOUN
gujaf-145	211	4	the	the	DET
gujaf-145	211	5	hausman	hausman	ADJ
gujaf-145	211	6	test	test	NOUN
gujaf-145	211	7	can	can	AUX
gujaf-145	211	8	assist	assist	VERB
gujaf-145	211	9	in	in	ADP
gujaf-145	211	10	determining	determine	VERB
gujaf-145	211	11	which	which	PRON
gujaf-145	211	12	of	of	ADP
gujaf-145	211	13	two	two	NUM
gujaf-145	211	14	fixed	fix	VERB
gujaf-145	211	15	effects	effect	NOUN
gujaf-145	211	16	models	model	NOUN
gujaf-145	211	17	or	or	CCONJ
gujaf-145	211	18	random	random	ADJ
gujaf-145	211	19	effects	effect	NOUN
gujaf-145	211	20	models	model	NOUN
gujaf-145	211	21	is	be	AUX
gujaf-145	211	22	appropriate	appropriate	ADJ
gujaf-145	211	23	for	for	ADP
gujaf-145	211	24	interpretation	interpretation	NOUN
gujaf-145	211	25	in	in	ADP
gujaf-145	211	26	panel	panel	NOUN
gujaf-145	211	27	data	datum	NOUN
gujaf-145	211	28	analysis	analysis	NOUN
gujaf-145	211	29	.	.	PUNCT
gujaf-145	212	1	the	the	DET
gujaf-145	212	2	tests	test	NOUN
gujaf-145	212	3	essentially	essentially	ADV
gujaf-145	212	4	look	look	VERB
gujaf-145	212	5	to	to	PART
gujaf-145	212	6	see	see	VERB
gujaf-145	212	7	if	if	SCONJ
gujaf-145	212	8	there	there	PRON
gujaf-145	212	9	is	be	VERB
gujaf-145	212	10	a	a	DET
gujaf-145	212	11	relationship	relationship	NOUN
gujaf-145	212	12	between	between	ADP
gujaf-145	212	13	the	the	DET
gujaf-145	212	14	unique	unique	ADJ
gujaf-145	212	15	errors	error	NOUN
gujaf-145	212	16	and	and	CCONJ
gujaf-145	212	17	the	the	DET
gujaf-145	212	18	regressors	regressor	NOUN
gujaf-145	212	19	in	in	ADP
gujaf-145	212	20	the	the	DET
gujaf-145	212	21	model	model	NOUN
gujaf-145	212	22	.	.	PUNCT
gujaf-145	213	1	the	the	DET
gujaf-145	213	2	preferred	preferred	ADJ
gujaf-145	213	3	model	model	NOUN
gujaf-145	213	4	has	have	VERB
gujaf-145	213	5	random	random	ADJ
gujaf-145	213	6	effects	effect	NOUN
gujaf-145	213	7	,	,	PUNCT
gujaf-145	213	8	according	accord	VERB
gujaf-145	213	9	to	to	ADP
gujaf-145	213	10	the	the	DET
gujaf-145	213	11	null	null	ADJ
gujaf-145	213	12	hypothesis	hypothesis	NOUN
gujaf-145	213	13	;	;	PUNCT
gujaf-145	213	14	the	the	DET
gujaf-145	213	15	model	model	NOUN
gujaf-145	213	16	has	have	VERB
gujaf-145	213	17	fixed	fix	VERB
gujaf-145	213	18	effects	effect	NOUN
gujaf-145	213	19	,	,	PUNCT
gujaf-145	213	20	according	accord	VERB
gujaf-145	213	21	to	to	ADP
gujaf-145	213	22	the	the	DET
gujaf-145	213	23	alternate	alternate	ADJ
gujaf-145	213	24	hypothesis	hypothesis	NOUN
gujaf-145	213	25	.	.	PUNCT
gujaf-145	214	1	variable	variable	ADJ
gujaf-145	214	2	chi2	chi2	PROPN
gujaf-145	214	3	prob	prob	PROPN
gujaf-145	214	4	>	>	PROPN
gujaf-145	214	5	chi2	chi2	NOUN
gujaf-145	214	6	ownership	ownership	NOUN
gujaf-145	214	7	attributes	attribute	VERB
gujaf-145	214	8	0.01	0.01	NUM
gujaf-145	214	9	0.08900	0.08900	NUM
gujaf-145	214	10	source	source	NOUN
gujaf-145	214	11	:	:	PUNCT
gujaf-145	214	12	stata	stata	PROPN
gujaf-145	214	13	output	output	NOUN
gujaf-145	214	14	,	,	PUNCT
gujaf-145	214	15	2020	2020	NUM
gujaf-145	214	16	the	the	DET
gujaf-145	214	17	hausman	hausman	ADJ
gujaf-145	214	18	speciation	speciation	NOUN
gujaf-145	214	19	test	test	NOUN
gujaf-145	214	20	is	be	AUX
gujaf-145	214	21	utilized	utilize	VERB
gujaf-145	214	22	to	to	PART
gujaf-145	214	23	select	select	VERB
gujaf-145	214	24	between	between	ADP
gujaf-145	214	25	the	the	DET
gujaf-145	214	26	fixed	fix	VERB
gujaf-145	214	27	and	and	CCONJ
gujaf-145	214	28	random	random	ADJ
gujaf-145	214	29	effect	effect	NOUN
gujaf-145	214	30	models	model	NOUN
gujaf-145	214	31	.	.	PUNCT
gujaf-145	215	1	the	the	DET
gujaf-145	215	2	outcome	outcome	NOUN
gujaf-145	215	3	of	of	ADP
gujaf-145	215	4	the	the	DET
gujaf-145	215	5	hausman	hausman	PROPN
gujaf-145	215	6	test	test	NOUN
gujaf-145	215	7	indicated	indicate	VERB
gujaf-145	215	8	that	that	SCONJ
gujaf-145	215	9	the	the	DET
gujaf-145	215	10	chi2	chi2	NOUN
gujaf-145	215	11	value	value	NOUN
gujaf-145	215	12	for	for	ADP
gujaf-145	215	13	ownership	ownership	NOUN
gujaf-145	215	14	attributes	attribute	NOUN
gujaf-145	215	15	is	be	AUX
gujaf-145	215	16	0.01	0.01	NUM
gujaf-145	215	17	.	.	PUNCT
gujaf-145	216	1	the	the	DET
gujaf-145	216	2	prob	prob	PROPN
gujaf-145	216	3	>	>	X
gujaf-145	216	4	chi2	chi2	PROPN
gujaf-145	216	5	for	for	ADP
gujaf-145	216	6	ownership	ownership	NOUN
gujaf-145	216	7	butes	bute	NOUN
gujaf-145	216	8	is	be	AUX
gujaf-145	216	9	currently	currently	ADV
gujaf-145	216	10	0.08900	0.08900	NUM
gujaf-145	216	11	.	.	PUNCT
gujaf-145	217	1	the	the	DET
gujaf-145	217	2	hausman	hausman	PROPN
gujaf-145	217	3	test	test	NOUN
gujaf-145	217	4	favors	favor	VERB
gujaf-145	217	5	the	the	DET
gujaf-145	217	6	random	random	ADJ
gujaf-145	217	7	effect	effect	NOUN
gujaf-145	217	8	model	model	NOUN
gujaf-145	217	9	,	,	PUNCT
gujaf-145	217	10	as	as	SCONJ
gujaf-145	217	11	indicated	indicate	VERB
gujaf-145	217	12	by	by	ADP
gujaf-145	217	13	the	the	DET
gujaf-145	217	14	likelihood	likelihood	NOUN
gujaf-145	217	15	that	that	SCONJ
gujaf-145	217	16	chi2	chi2	NOUN
gujaf-145	217	17	will	will	AUX
gujaf-145	217	18	report	report	VERB
gujaf-145	217	19	an	an	DET
gujaf-145	217	20	insignificant	insignificant	ADJ
gujaf-145	217	21	value	value	NOUN
gujaf-145	217	22	.	.	PUNCT
gujaf-145	218	1	furthermore	furthermore	ADV
gujaf-145	218	2	,	,	PUNCT
gujaf-145	218	3	the	the	DET
gujaf-145	218	4	breusch	breusch	NOUN
gujaf-145	218	5	and	and	CCONJ
gujaf-145	218	6	pagan	pagan	VERB
gujaf-145	218	7	lagrangian	lagrangian	ADJ
gujaf-145	218	8	multiplier	multipli	ADJ
gujaf-145	218	9	test	test	NOUN
gujaf-145	218	10	for	for	ADP
gujaf-145	218	11	random	random	ADJ
gujaf-145	218	12	impact	impact	NOUN
gujaf-145	218	13	was	be	AUX
gujaf-145	218	14	carried	carry	VERB
gujaf-145	218	15	out	out	ADP
gujaf-145	218	16	to	to	PART
gujaf-145	218	17	ascertain	ascertain	VERB
gujaf-145	218	18	which	which	PRON
gujaf-145	218	19	result	result	NOUN
gujaf-145	218	20	,	,	PUNCT
gujaf-145	218	21	random	random	ADJ
gujaf-145	218	22	impact	impact	NOUN
gujaf-145	218	23	or	or	CCONJ
gujaf-145	218	24	pooled	pool	VERB
gujaf-145	218	25	ols	ol	NOUN
gujaf-145	218	26	regression	regression	NOUN
gujaf-145	218	27	,	,	PUNCT
gujaf-145	218	28	is	be	AUX
gujaf-145	218	29	more	more	ADV
gujaf-145	218	30	appropriate	appropriate	ADJ
gujaf-145	218	31	in	in	ADP
gujaf-145	218	32	order	order	NOUN
gujaf-145	218	33	to	to	PART
gujaf-145	218	34	meet	meet	VERB
gujaf-145	218	35	the	the	DET
gujaf-145	218	36	requirement	requirement	NOUN
gujaf-145	218	37	that	that	SCONJ
gujaf-145	218	38	one	one	NUM
gujaf-145	218	39	or	or	CCONJ
gujaf-145	218	40	more	more	ADJ
gujaf-145	218	41	equations	equation	NOUN
gujaf-145	218	42	must	must	AUX
gujaf-145	218	43	be	be	AUX
gujaf-145	218	44	satisfied	satisfied	ADJ
gujaf-145	218	45	precisely	precisely	ADV
gujaf-145	218	46	by	by	ADP
gujaf-145	218	47	the	the	DET
gujaf-145	218	48	chosen	choose	VERB
gujaf-145	218	49	variable	variable	ADJ
gujaf-145	218	50	values	value	NOUN
gujaf-145	218	51	.	.	PUNCT
gujaf-145	219	1	the	the	DET
gujaf-145	219	2	outcome	outcome	NOUN
gujaf-145	219	3	showed	show	VERB
gujaf-145	219	4	that	that	SCONJ
gujaf-145	219	5	0.0000	0.0000	NUM
gujaf-145	219	6	is	be	AUX
gujaf-145	219	7	indicated	indicate	VERB
gujaf-145	219	8	by	by	ADP
gujaf-145	219	9	the	the	DET
gujaf-145	219	10	prob	prob	PROPN
gujaf-145	219	11	>	>	X
gujaf-145	219	12	chi2	chi2	PROPN
gujaf-145	219	13	for	for	ADP
gujaf-145	219	14	variables	variable	NOUN
gujaf-145	219	15	.	.	PUNCT
gujaf-145	220	1	from	from	ADP
gujaf-145	220	2	this	this	DET
gujaf-145	220	3	result	result	NOUN
gujaf-145	220	4	,	,	PUNCT
gujaf-145	220	5	the	the	DET
gujaf-145	220	6	best	good	ADJ
gujaf-145	220	7	model	model	NOUN
gujaf-145	220	8	to	to	PART
gujaf-145	220	9	be	be	AUX
gujaf-145	220	10	interpreted	interpret	VERB
gujaf-145	220	11	is	be	AUX
gujaf-145	220	12	the	the	DET
gujaf-145	220	13	pooled	pool	VERB
gujaf-145	220	14	ols	ols	PROPN
gujaf-145	220	15	regression	regression	NOUN
gujaf-145	220	16	model	model	NOUN
gujaf-145	220	17	since	since	SCONJ
gujaf-145	220	18	the	the	DET
gujaf-145	220	19	prob	prob	PROPN
gujaf-145	220	20	>	>	X
gujaf-145	220	21	chi2	chi2	PROPN
gujaf-145	220	22	is	be	AUX
gujaf-145	220	23	less	less	ADJ
gujaf-145	220	24	than	than	ADP
gujaf-145	220	25	0.05	0.05	NUM
gujaf-145	220	26	for	for	ADP
gujaf-145	220	27	all	all	DET
gujaf-145	220	28	variables	variable	NOUN
gujaf-145	220	29	.	.	PUNCT
gujaf-145	221	1	data	datum	NOUN
gujaf-145	221	2	analysis	analysis	NOUN
gujaf-145	221	3	and	and	CCONJ
gujaf-145	221	4	results	result	VERB
gujaf-145	221	5	the	the	DET
gujaf-145	221	6	impact	impact	NOUN
gujaf-145	221	7	of	of	ADP
gujaf-145	221	8	institutional	institutional	ADJ
gujaf-145	221	9	and	and	CCONJ
gujaf-145	221	10	managerial	managerial	ADJ
gujaf-145	221	11	ownership	ownership	NOUN
gujaf-145	221	12	as	as	ADV
gujaf-145	221	13	well	well	ADV
gujaf-145	221	14	as	as	ADP
gujaf-145	221	15	ownership	ownership	NOUN
gujaf-145	221	16	structures	structure	NOUN
gujaf-145	221	17	on	on	ADP
gujaf-145	221	18	stock	stock	NOUN
gujaf-145	221	19	returns	return	NOUN
gujaf-145	221	20	were	be	AUX
gujaf-145	221	21	all	all	PRON
gujaf-145	221	22	examined	examine	VERB
gujaf-145	221	23	using	use	VERB
gujaf-145	221	24	two	two	NUM
gujaf-145	221	25	regression	regression	NOUN
gujaf-145	221	26	models	model	NOUN
gujaf-145	221	27	.	.	PUNCT
gujaf-145	222	1	the	the	DET
gujaf-145	222	2	outcomes	outcome	NOUN
gujaf-145	222	3	of	of	ADP
gujaf-145	222	4	the	the	DET
gujaf-145	222	5	breusch	breusch	NOUN
gujaf-145	222	6	and	and	CCONJ
gujaf-145	222	7	pagan	pagan	VERB
gujaf-145	222	8	lagrangian	lagrangian	ADJ
gujaf-145	222	9	multiplier	multipli	ADJ
gujaf-145	222	10	test	test	NOUN
gujaf-145	222	11	were	be	AUX
gujaf-145	222	12	used	use	VERB
gujaf-145	222	13	to	to	PART
gujaf-145	222	14	specify	specify	VERB
gujaf-145	222	15	the	the	DET
gujaf-145	222	16	models	model	NOUN
gujaf-145	222	17	for	for	ADP
gujaf-145	222	18	random	random	ADJ
gujaf-145	222	19	impacts	impact	NOUN
gujaf-145	222	20	that	that	PRON
gujaf-145	222	21	used	use	VERB
gujaf-145	222	22	pooled	pool	VERB
gujaf-145	222	23	ols	ol	NOUN
gujaf-145	222	24	regression	regression	NOUN
gujaf-145	222	25	.	.	PUNCT
gujaf-145	223	1	14	14	NUM
gujaf-145	224	1	the	the	DET
gujaf-145	224	2	h01	h01	NOUN
gujaf-145	224	3	ownership	ownership	NOUN
gujaf-145	224	4	structure	structure	NOUN
gujaf-145	224	5	has	have	VERB
gujaf-145	224	6	no	no	DET
gujaf-145	224	7	significant	significant	ADJ
gujaf-145	224	8	impact	impact	NOUN
gujaf-145	224	9	on	on	ADP
gujaf-145	224	10	the	the	DET
gujaf-145	224	11	stock	stock	NOUN
gujaf-145	224	12	returns	return	NOUN
gujaf-145	224	13	of	of	ADP
gujaf-145	224	14	quoted	quote	VERB
gujaf-145	224	15	consumer	consumer	NOUN
gujaf-145	224	16	goods	good	NOUN
gujaf-145	224	17	companies	company	NOUN
gujaf-145	224	18	in	in	ADP
gujaf-145	224	19	nigeria	nigeria	PROPN
gujaf-145	224	20	.	.	PUNCT
gujaf-145	225	1	pooled	pool	VERB
gujaf-145	225	2	ols	ols	PROPN
gujaf-145	225	3	regression	regression	PROPN
gujaf-145	225	4	result	result	PROPN
gujaf-145	225	5	sr	sr	PROPN
gujaf-145	225	6	coefficient	coefficient	PROPN
gujaf-145	225	7	t	t	PROPN
gujaf-145	225	8	p	p	NOUN
gujaf-145	225	9	-	-	PUNCT
gujaf-145	225	10	value	value	NOUN
gujaf-145	225	11	oc	oc	ADP
gujaf-145	225	12	4.282942	4.282942	NUM
gujaf-145	225	13	3.85	3.85	NUM
gujaf-145	225	14	0.000	0.000	NUM
gujaf-145	225	15	mo	mo	NOUN
gujaf-145	225	16	-36.9705	-36.9705	PUNCT
gujaf-145	225	17	-1.79	-1.79	NUM
gujaf-145	225	18	0.076	0.076	NUM
gujaf-145	225	19	io	io	PROPN
gujaf-145	225	20	964.9211	964.9211	NUM
gujaf-145	225	21	3.26	3.26	NUM
gujaf-145	225	22	0.001	0.001	NUM
gujaf-145	225	23	r	r	NOUN
gujaf-145	225	24	-	-	PUNCT
gujaf-145	225	25	square	square	ADJ
gujaf-145	225	26	0.1854	0.1854	NUM
gujaf-145	225	27	adjusted	adjust	VERB
gujaf-145	225	28	r	r	NOUN
gujaf-145	225	29	-	-	PUNCT
gujaf-145	225	30	square	square	ADJ
gujaf-145	225	31	0.1678	0.1678	NUM
gujaf-145	225	32	f	f	X
gujaf-145	225	33	-	-	PUNCT
gujaf-145	225	34	statistics	statistics	PROPN
gujaf-145	225	35	54.86	54.86	NUM
gujaf-145	225	36	prob	prob	NOUN
gujaf-145	225	37	>	>	X
gujaf-145	225	38	f	f	PROPN
gujaf-145	225	39	0.0029	0.0029	NUM
gujaf-145	225	40	source	source	NOUN
gujaf-145	225	41	:	:	PUNCT
gujaf-145	225	42	output	output	NOUN
gujaf-145	225	43	from	from	ADP
gujaf-145	225	44	stata	stata	NOUN
gujaf-145	225	45	,	,	PUNCT
gujaf-145	225	46	2022	2022	NUM
gujaf-145	225	47	.	.	PUNCT
gujaf-145	226	1	as	as	SCONJ
gujaf-145	226	2	shown	show	VERB
gujaf-145	226	3	in	in	ADP
gujaf-145	226	4	the	the	DET
gujaf-145	226	5	table	table	NOUN
gujaf-145	226	6	,	,	PUNCT
gujaf-145	226	7	the	the	DET
gujaf-145	226	8	r	r	NOUN
gujaf-145	226	9	-	-	PUNCT
gujaf-145	226	10	square	square	NOUN
gujaf-145	226	11	is	be	AUX
gujaf-145	226	12	0.1854	0.1854	NUM
gujaf-145	226	13	,	,	PUNCT
gujaf-145	226	14	indicating	indicate	VERB
gujaf-145	226	15	that	that	SCONJ
gujaf-145	226	16	the	the	DET
gujaf-145	226	17	ownership	ownership	NOUN
gujaf-145	226	18	structure	structure	NOUN
gujaf-145	226	19	variables	variable	NOUN
gujaf-145	226	20	in	in	ADP
gujaf-145	226	21	the	the	DET
gujaf-145	226	22	study	study	NOUN
gujaf-145	226	23	were	be	AUX
gujaf-145	226	24	responsible	responsible	ADJ
gujaf-145	226	25	for	for	ADP
gujaf-145	226	26	18	18	NUM
gujaf-145	226	27	%	%	NOUN
gujaf-145	226	28	of	of	ADP
gujaf-145	226	29	the	the	DET
gujaf-145	226	30	stock	stock	NOUN
gujaf-145	226	31	returns	return	NOUN
gujaf-145	226	32	.	.	PUNCT
gujaf-145	227	1	the	the	DET
gujaf-145	227	2	f	f	NOUN
gujaf-145	227	3	-	-	PUNCT
gujaf-145	227	4	statistic	statistic	NOUN
gujaf-145	227	5	is	be	AUX
gujaf-145	227	6	54.86	54.86	NUM
gujaf-145	227	7	with	with	ADP
gujaf-145	227	8	a	a	DET
gujaf-145	227	9	probability	probability	NOUN
gujaf-145	227	10	of	of	ADP
gujaf-145	227	11	chi2	chi2	NOUN
gujaf-145	227	12	=	=	PROPN
gujaf-145	227	13	0.002	0.002	NUM
gujaf-145	227	14	.	.	PUNCT
gujaf-145	228	1	the	the	DET
gujaf-145	228	2	chi2	chi2	NOUN
gujaf-145	228	3	probability	probability	NOUN
gujaf-145	228	4	is	be	AUX
gujaf-145	228	5	significant	significant	ADJ
gujaf-145	228	6	at	at	ADP
gujaf-145	228	7	1	1	NUM
gujaf-145	228	8	%	%	NOUN
gujaf-145	228	9	,	,	PUNCT
gujaf-145	228	10	indicating	indicate	VERB
gujaf-145	228	11	that	that	SCONJ
gujaf-145	228	12	the	the	DET
gujaf-145	228	13	model	model	NOUN
gujaf-145	228	14	is	be	AUX
gujaf-145	228	15	fit	fit	ADJ
gujaf-145	228	16	.	.	PUNCT
gujaf-145	229	1	this	this	PRON
gujaf-145	229	2	demonstrates	demonstrate	VERB
gujaf-145	229	3	that	that	SCONJ
gujaf-145	229	4	the	the	DET
gujaf-145	229	5	ownership	ownership	NOUN
gujaf-145	229	6	structure	structure	NOUN
gujaf-145	229	7	variables	variable	NOUN
gujaf-145	229	8	chosen	choose	VERB
gujaf-145	229	9	for	for	ADP
gujaf-145	229	10	the	the	DET
gujaf-145	229	11	study	study	NOUN
gujaf-145	229	12	are	be	AUX
gujaf-145	229	13	appropriate	appropriate	ADJ
gujaf-145	229	14	and	and	CCONJ
gujaf-145	229	15	can	can	AUX
gujaf-145	229	16	be	be	AUX
gujaf-145	229	17	used	use	VERB
gujaf-145	229	18	to	to	PART
gujaf-145	229	19	explain	explain	VERB
gujaf-145	229	20	the	the	DET
gujaf-145	229	21	stock	stock	NOUN
gujaf-145	229	22	return	return	NOUN
gujaf-145	229	23	behavior	behavior	NOUN
gujaf-145	229	24	of	of	ADP
gujaf-145	229	25	nigerian	nigerian	ADJ
gujaf-145	229	26	consumer	consumer	NOUN
gujaf-145	229	27	goods	good	NOUN
gujaf-145	229	28	firms	firm	NOUN
gujaf-145	229	29	.	.	PUNCT
gujaf-145	230	1	ownership	ownership	NOUN
gujaf-145	230	2	concentration	concentration	NOUN
gujaf-145	230	3	has	have	VERB
gujaf-145	230	4	a	a	DET
gujaf-145	230	5	positive	positive	ADJ
gujaf-145	230	6	and	and	CCONJ
gujaf-145	230	7	significant	significant	ADJ
gujaf-145	230	8	impact	impact	NOUN
gujaf-145	230	9	on	on	ADP
gujaf-145	230	10	the	the	DET
gujaf-145	230	11	stock	stock	NOUN
gujaf-145	230	12	returns	return	NOUN
gujaf-145	230	13	of	of	ADP
gujaf-145	230	14	nigerian	nigerian	PROPN
gujaf-145	230	15	publicly	publicly	ADV
gujaf-145	230	16	traded	trade	VERB
gujaf-145	230	17	consumer	consumer	NOUN
gujaf-145	230	18	goods	good	NOUN
gujaf-145	230	19	companies	company	NOUN
gujaf-145	230	20	.	.	PUNCT
gujaf-145	231	1	this	this	PRON
gujaf-145	231	2	is	be	AUX
gujaf-145	231	3	demonstrated	demonstrate	VERB
gujaf-145	231	4	by	by	ADP
gujaf-145	231	5	the	the	DET
gujaf-145	231	6	coefficient	coefficient	NOUN
gujaf-145	231	7	of	of	ADP
gujaf-145	231	8	4.282942	4.282942	NUM
gujaf-145	231	9	and	and	CCONJ
gujaf-145	231	10	the	the	DET
gujaf-145	231	11	p	p	NOUN
gujaf-145	231	12	-	-	PUNCT
gujaf-145	231	13	value	value	NOUN
gujaf-145	231	14	of	of	ADP
gujaf-145	231	15	0.0001	0.0001	NUM
gujaf-145	231	16	,	,	PUNCT
gujaf-145	231	17	both	both	PRON
gujaf-145	231	18	of	of	ADP
gujaf-145	231	19	which	which	PRON
gujaf-145	231	20	are	be	AUX
gujaf-145	231	21	significant	significant	ADJ
gujaf-145	231	22	at	at	ADP
gujaf-145	231	23	a	a	DET
gujaf-145	231	24	5	5	NUM
gujaf-145	231	25	%	%	NOUN
gujaf-145	231	26	level	level	NOUN
gujaf-145	231	27	of	of	ADP
gujaf-145	231	28	confidence	confidence	NOUN
gujaf-145	231	29	.	.	PUNCT
gujaf-145	232	1	given	give	VERB
gujaf-145	232	2	this	this	DET
gujaf-145	232	3	result	result	NOUN
gujaf-145	232	4	,	,	PUNCT
gujaf-145	232	5	the	the	DET
gujaf-145	232	6	study	study	NOUN
gujaf-145	232	7	has	have	VERB
gujaf-145	232	8	strong	strong	ADJ
gujaf-145	232	9	evidence	evidence	NOUN
gujaf-145	232	10	to	to	PART
gujaf-145	232	11	reject	reject	VERB
gujaf-145	232	12	the	the	DET
gujaf-145	232	13	hypothesis	hypothesis	NOUN
gujaf-145	232	14	that	that	PRON
gujaf-145	232	15	ownership	ownership	NOUN
gujaf-145	232	16	concentration	concentration	NOUN
gujaf-145	232	17	has	have	VERB
gujaf-145	232	18	no	no	DET
gujaf-145	232	19	effect	effect	NOUN
gujaf-145	232	20	on	on	ADP
gujaf-145	232	21	stock	stock	NOUN
gujaf-145	232	22	returns	return	NOUN
gujaf-145	232	23	.	.	PUNCT
gujaf-145	233	1	managerial	managerial	ADJ
gujaf-145	233	2	ownership	ownership	NOUN
gujaf-145	233	3	has	have	VERB
gujaf-145	233	4	a	a	DET
gujaf-145	233	5	negligible	negligible	ADJ
gujaf-145	233	6	negative	negative	ADJ
gujaf-145	233	7	relationship	relationship	NOUN
gujaf-145	233	8	with	with	ADP
gujaf-145	233	9	the	the	DET
gujaf-145	233	10	stock	stock	NOUN
gujaf-145	233	11	returns	return	NOUN
gujaf-145	233	12	of	of	ADP
gujaf-145	233	13	nigerian	nigerian	ADJ
gujaf-145	233	14	listed	list	VERB
gujaf-145	233	15	consumer	consumer	NOUN
gujaf-145	233	16	goods	good	NOUN
gujaf-145	233	17	firms	firm	NOUN
gujaf-145	233	18	.	.	PUNCT
gujaf-145	234	1	the	the	DET
gujaf-145	234	2	5	5	NUM
gujaf-145	234	3	%	%	NOUN
gujaf-145	234	4	significance	significance	NOUN
gujaf-145	234	5	level	level	NOUN
gujaf-145	234	6	reveals	reveal	VERB
gujaf-145	234	7	that	that	SCONJ
gujaf-145	234	8	managerial	managerial	ADJ
gujaf-145	234	9	ownership	ownership	NOUN
gujaf-145	234	10	has	have	VERB
gujaf-145	234	11	no	no	DET
gujaf-145	234	12	statistically	statistically	ADV
gujaf-145	234	13	significant	significant	ADJ
gujaf-145	234	14	influence	influence	NOUN
gujaf-145	234	15	on	on	ADP
gujaf-145	234	16	stock	stock	NOUN
gujaf-145	234	17	returns	return	NOUN
gujaf-145	234	18	.	.	PUNCT
gujaf-145	235	1	the	the	DET
gujaf-145	235	2	study	study	NOUN
gujaf-145	235	3	accepts	accept	VERB
gujaf-145	235	4	the	the	DET
gujaf-145	235	5	null	null	ADJ
gujaf-145	235	6	hypothesis	hypothesis	NOUN
gujaf-145	235	7	,	,	PUNCT
gujaf-145	235	8	which	which	PRON
gujaf-145	235	9	states	state	VERB
gujaf-145	235	10	that	that	SCONJ
gujaf-145	235	11	managerial	managerial	ADJ
gujaf-145	235	12	ownership	ownership	NOUN
gujaf-145	235	13	has	have	VERB
gujaf-145	235	14	no	no	DET
gujaf-145	235	15	significant	significant	ADJ
gujaf-145	235	16	impact	impact	NOUN
gujaf-145	235	17	on	on	ADP
gujaf-145	235	18	the	the	DET
gujaf-145	235	19	stocks	stock	NOUN
gujaf-145	235	20	of	of	ADP
gujaf-145	235	21	nigerian	nigerian	ADJ
gujaf-145	235	22	consumer	consumer	NOUN
gujaf-145	235	23	goods	good	NOUN
gujaf-145	235	24	companies	company	NOUN
gujaf-145	235	25	.	.	PUNCT
gujaf-145	236	1	in	in	ADP
gujaf-145	236	2	the	the	DET
gujaf-145	236	3	study	study	NOUN
gujaf-145	236	4	's	's	PART
gujaf-145	236	5	sample	sample	NOUN
gujaf-145	236	6	,	,	PUNCT
gujaf-145	236	7	institutional	institutional	ADJ
gujaf-145	236	8	ownership	ownership	NOUN
gujaf-145	236	9	has	have	VERB
gujaf-145	236	10	a	a	DET
gujaf-145	236	11	statistically	statistically	ADV
gujaf-145	236	12	significant	significant	ADJ
gujaf-145	236	13	positive	positive	ADJ
gujaf-145	236	14	impact	impact	NOUN
gujaf-145	236	15	on	on	ADP
gujaf-145	236	16	stock	stock	NOUN
gujaf-145	236	17	returns	return	NOUN
gujaf-145	236	18	.	.	PUNCT
gujaf-145	237	1	this	this	DET
gujaf-145	237	2	claim	claim	NOUN
gujaf-145	237	3	is	be	AUX
gujaf-145	237	4	supported	support	VERB
gujaf-145	237	5	by	by	ADP
gujaf-145	237	6	the	the	DET
gujaf-145	237	7	coefficient	coefficient	NOUN
gujaf-145	237	8	and	and	CCONJ
gujaf-145	237	9	p	p	ADJ
gujaf-145	237	10	-	-	PUNCT
gujaf-145	237	11	value	value	NOUN
gujaf-145	237	12	values	value	NOUN
gujaf-145	237	13	of	of	ADP
gujaf-145	237	14	964.9211	964.9211	NUM
gujaf-145	237	15	and	and	CCONJ
gujaf-145	237	16	0.001	0.001	NUM
gujaf-145	237	17	,	,	PUNCT
gujaf-145	237	18	respectively	respectively	ADV
gujaf-145	237	19	.	.	PUNCT
gujaf-145	238	1	this	this	PRON
gujaf-145	238	2	suggests	suggest	VERB
gujaf-145	238	3	that	that	SCONJ
gujaf-145	238	4	institutional	institutional	ADJ
gujaf-145	238	5	owners	owner	NOUN
gujaf-145	238	6	can	can	AUX
gujaf-145	238	7	be	be	AUX
gujaf-145	238	8	used	use	VERB
gujaf-145	238	9	to	to	PART
gujaf-145	238	10	predict	predict	VERB
gujaf-145	238	11	the	the	DET
gujaf-145	238	12	level	level	NOUN
gujaf-145	238	13	of	of	ADP
gujaf-145	238	14	stock	stock	NOUN
gujaf-145	238	15	returns	return	NOUN
gujaf-145	238	16	for	for	ADP
gujaf-145	238	17	investors	investor	NOUN
gujaf-145	238	18	in	in	ADP
gujaf-145	238	19	the	the	DET
gujaf-145	238	20	consumer	consumer	NOUN
gujaf-145	238	21	goods	good	NOUN
gujaf-145	238	22	sector	sector	NOUN
gujaf-145	238	23	.	.	PUNCT
gujaf-145	239	1	the	the	DET
gujaf-145	239	2	combined	combined	ADJ
gujaf-145	239	3	ols	ol	NOUN
gujaf-145	239	4	regression	regression	NOUN
gujaf-145	239	5	results	result	NOUN
gujaf-145	239	6	demonstrate	demonstrate	VERB
gujaf-145	239	7	that	that	SCONJ
gujaf-145	239	8	ownership	ownership	NOUN
gujaf-145	239	9	structure	structure	NOUN
gujaf-145	239	10	can	can	AUX
gujaf-145	239	11	be	be	AUX
gujaf-145	239	12	used	use	VERB
gujaf-145	239	13	to	to	PART
gujaf-145	239	14	forecast	forecast	VERB
gujaf-145	239	15	stock	stock	NOUN
gujaf-145	239	16	return	return	NOUN
gujaf-145	239	17	behavior	behavior	NOUN
gujaf-145	239	18	in	in	ADP
gujaf-145	239	19	the	the	DET
gujaf-145	239	20	areas	area	NOUN
gujaf-145	239	21	under	under	ADP
gujaf-145	239	22	investigation	investigation	NOUN
gujaf-145	239	23	.	.	PUNCT
gujaf-145	240	1	this	this	DET
gujaf-145	240	2	study	study	NOUN
gujaf-145	240	3	aims	aim	VERB
gujaf-145	240	4	to	to	PART
gujaf-145	240	5	investigate	investigate	VERB
gujaf-145	240	6	the	the	DET
gujaf-145	240	7	effects	effect	NOUN
gujaf-145	240	8	of	of	ADP
gujaf-145	240	9	institutional	institutional	ADJ
gujaf-145	240	10	ownership	ownership	NOUN
gujaf-145	240	11	,	,	PUNCT
gujaf-145	240	12	managerial	managerial	ADJ
gujaf-145	240	13	ownership	ownership	NOUN
gujaf-145	240	14	,	,	PUNCT
gujaf-145	240	15	and	and	CCONJ
gujaf-145	240	16	ownership	ownership	NOUN
gujaf-145	240	17	concentration	concentration	NOUN
gujaf-145	240	18	on	on	ADP
gujaf-145	240	19	stock	stock	NOUN
gujaf-145	240	20	returns	return	NOUN
gujaf-145	240	21	(	(	PUNCT
gujaf-145	240	22	as	as	SCONJ
gujaf-145	240	23	determined	determine	VERB
gujaf-145	240	24	by	by	ADP
gujaf-145	240	25	market	market	NOUN
gujaf-145	240	26	price	price	NOUN
gujaf-145	240	27	per	per	ADP
gujaf-145	240	28	share	share	NOUN
gujaf-145	240	29	)	)	PUNCT
gujaf-145	240	30	in	in	ADP
gujaf-145	240	31	nigerian	nigerian	ADJ
gujaf-145	240	32	consumer	consumer	NOUN
gujaf-145	240	33	goods	good	NOUN
gujaf-145	240	34	companies	company	NOUN
gujaf-145	240	35	.	.	PUNCT
gujaf-145	241	1	the	the	DET
gujaf-145	241	2	likelihood	likelihood	NOUN
gujaf-145	241	3	that	that	SCONJ
gujaf-145	241	4	ownership	ownership	NOUN
gujaf-145	241	5	15	15	NUM
gujaf-145	241	6	concentration	concentration	NOUN
gujaf-145	241	7	affects	affect	VERB
gujaf-145	241	8	stock	stock	NOUN
gujaf-145	241	9	returns	return	NOUN
gujaf-145	241	10	is	be	AUX
gujaf-145	241	11	high	high	ADJ
gujaf-145	241	12	.	.	PUNCT
gujaf-145	242	1	as	as	ADP
gujaf-145	242	2	a	a	DET
gujaf-145	242	3	result	result	NOUN
gujaf-145	242	4	,	,	PUNCT
gujaf-145	242	5	stock	stock	NOUN
gujaf-145	242	6	returns	return	NOUN
gujaf-145	242	7	in	in	ADP
gujaf-145	242	8	the	the	DET
gujaf-145	242	9	study	study	NOUN
gujaf-145	242	10	's	's	PART
gujaf-145	242	11	coverage	coverage	NOUN
gujaf-145	242	12	area	area	NOUN
gujaf-145	242	13	will	will	AUX
gujaf-145	242	14	increase	increase	VERB
gujaf-145	242	15	as	as	ADP
gujaf-145	242	16	concentrated	concentrated	ADJ
gujaf-145	242	17	ownership	ownership	NOUN
gujaf-145	242	18	increases	increase	NOUN
gujaf-145	242	19	by	by	ADP
gujaf-145	242	20	units	unit	NOUN
gujaf-145	242	21	.	.	PUNCT
gujaf-145	243	1	large	large	ADJ
gujaf-145	243	2	block	block	NOUN
gujaf-145	243	3	holders	holder	NOUN
gujaf-145	243	4	have	have	VERB
gujaf-145	243	5	a	a	DET
gujaf-145	243	6	stronger	strong	ADJ
gujaf-145	243	7	incentive	incentive	NOUN
gujaf-145	243	8	to	to	PART
gujaf-145	243	9	monitor	monitor	VERB
gujaf-145	243	10	management	management	NOUN
gujaf-145	243	11	because	because	SCONJ
gujaf-145	243	12	the	the	DET
gujaf-145	243	13	costs	cost	NOUN
gujaf-145	243	14	are	be	AUX
gujaf-145	243	15	less	less	ADJ
gujaf-145	243	16	than	than	ADP
gujaf-145	243	17	the	the	DET
gujaf-145	243	18	advantages	advantage	NOUN
gujaf-145	243	19	of	of	ADP
gujaf-145	243	20	large	large	ADJ
gujaf-145	243	21	equity	equity	NOUN
gujaf-145	243	22	holdings	holding	NOUN
gujaf-145	243	23	.	.	PUNCT
gujaf-145	244	1	lehn	lehn	NOUN
gujaf-145	244	2	and	and	CCONJ
gujaf-145	244	3	demetz	demetz	VERB
gujaf-145	244	4	(	(	PUNCT
gujaf-145	244	5	1985	1985	NUM
gujaf-145	244	6	)	)	PUNCT
gujaf-145	244	7	,	,	PUNCT
gujaf-145	244	8	show	show	VERB
gujaf-145	244	9	empirically	empirically	ADV
gujaf-145	244	10	,	,	PUNCT
gujaf-145	244	11	however	however	ADV
gujaf-145	244	12	,	,	PUNCT
gujaf-145	244	13	that	that	SCONJ
gujaf-145	244	14	high	high	ADJ
gujaf-145	244	15	stock	stock	NOUN
gujaf-145	244	16	price	price	NOUN
gujaf-145	244	17	volatility	volatility	NOUN
gujaf-145	244	18	is	be	AUX
gujaf-145	244	19	correlated	correlate	VERB
gujaf-145	244	20	with	with	ADP
gujaf-145	244	21	high	high	ADJ
gujaf-145	244	22	ownership	ownership	NOUN
gujaf-145	244	23	concentrations	concentration	NOUN
gujaf-145	244	24	.	.	PUNCT
gujaf-145	245	1	outside	outside	ADJ
gujaf-145	245	2	investors	investor	NOUN
gujaf-145	245	3	have	have	VERB
gujaf-145	245	4	little	little	ADJ
gujaf-145	245	5	information	information	NOUN
gujaf-145	245	6	and	and	CCONJ
gujaf-145	245	7	there	there	PRON
gujaf-145	245	8	is	be	VERB
gujaf-145	245	9	a	a	DET
gujaf-145	245	10	high	high	ADJ
gujaf-145	245	11	chance	chance	NOUN
gujaf-145	245	12	of	of	ADP
gujaf-145	245	13	insider	insider	NOUN
gujaf-145	245	14	trading	trading	NOUN
gujaf-145	245	15	because	because	SCONJ
gujaf-145	245	16	of	of	ADP
gujaf-145	245	17	the	the	DET
gujaf-145	245	18	closed	closed	ADJ
gujaf-145	245	19	corporate	corporate	ADJ
gujaf-145	245	20	governance	governance	NOUN
gujaf-145	245	21	system	system	NOUN
gujaf-145	245	22	and	and	CCONJ
gujaf-145	245	23	high	high	ADJ
gujaf-145	245	24	ownership	ownership	NOUN
gujaf-145	245	25	concentration	concentration	NOUN
gujaf-145	245	26	.	.	PUNCT
gujaf-145	246	1	the	the	DET
gujaf-145	246	2	incentive	incentive	NOUN
gujaf-145	246	3	to	to	PART
gujaf-145	246	4	oversee	oversee	VERB
gujaf-145	246	5	management	management	NOUN
gujaf-145	246	6	is	be	AUX
gujaf-145	246	7	weak	weak	ADJ
gujaf-145	246	8	in	in	ADP
gujaf-145	246	9	a	a	DET
gujaf-145	246	10	variety	variety	NOUN
gujaf-145	246	11	of	of	ADP
gujaf-145	246	12	situations	situation	NOUN
gujaf-145	246	13	where	where	SCONJ
gujaf-145	246	14	shareholders	shareholder	NOUN
gujaf-145	246	15	hold	hold	VERB
gujaf-145	246	16	less	less	ADJ
gujaf-145	246	17	stock	stock	NOUN
gujaf-145	246	18	in	in	ADP
gujaf-145	246	19	a	a	DET
gujaf-145	246	20	company	company	NOUN
gujaf-145	246	21	because	because	SCONJ
gujaf-145	246	22	the	the	DET
gujaf-145	246	23	costs	cost	NOUN
gujaf-145	246	24	outweigh	outweigh	VERB
gujaf-145	246	25	the	the	DET
gujaf-145	246	26	benefits	benefit	NOUN
gujaf-145	246	27	.	.	PUNCT
gujaf-145	247	1	and	and	CCONJ
gujaf-145	247	2	is	be	AUX
gujaf-145	247	3	consistent	consistent	ADJ
gujaf-145	247	4	with	with	ADP
gujaf-145	247	5	the	the	DET
gujaf-145	247	6	findings	finding	NOUN
gujaf-145	247	7	of	of	ADP
gujaf-145	247	8	shindu	shindu	NOUN
gujaf-145	247	9	,	,	PUNCT
gujaf-145	247	10	hashmi	hashmi	PROPN
gujaf-145	247	11	,	,	PUNCT
gujaf-145	247	12	haq	haq	PROPN
gujaf-145	247	13	,	,	PUNCT
gujaf-145	247	14	and	and	CCONJ
gujaf-145	247	15	ntim	ntim	ADJ
gujaf-145	247	16	(	(	PUNCT
gujaf-145	247	17	2016	2016	NUM
gujaf-145	247	18	)	)	PUNCT
gujaf-145	247	19	,	,	PUNCT
gujaf-145	247	20	as	as	ADV
gujaf-145	247	21	well	well	ADV
gujaf-145	247	22	as	as	ADP
gujaf-145	247	23	faten	faten	NOUN
gujaf-145	247	24	,	,	PUNCT
gujaf-145	247	25	adel	adel	NOUN
gujaf-145	247	26	,	,	PUNCT
gujaf-145	247	27	and	and	CCONJ
gujaf-145	247	28	mohammad	mohammad	PROPN
gujaf-145	247	29	(	(	PUNCT
gujaf-145	247	30	2017	2017	NUM
gujaf-145	247	31	)	)	PUNCT
gujaf-145	247	32	,	,	PUNCT
gujaf-145	247	33	amal	amal	PROPN
gujaf-145	247	34	and	and	CCONJ
gujaf-145	247	35	ahmed	ahmed	PROPN
gujaf-145	247	36	(	(	PUNCT
gujaf-145	247	37	2017	2017	NUM
gujaf-145	247	38	)	)	PUNCT
gujaf-145	247	39	,	,	PUNCT
gujaf-145	247	40	and	and	CCONJ
gujaf-145	247	41	(	(	PUNCT
gujaf-145	247	42	2016	2016	NUM
gujaf-145	247	43	)	)	PUNCT
gujaf-145	247	44	.	.	PUNCT
gujaf-145	248	1	(	(	PUNCT
gujaf-145	248	2	2015	2015	NUM
gujaf-145	248	3	)	)	PUNCT
gujaf-145	248	4	.	.	PUNCT
gujaf-145	249	1	the	the	DET
gujaf-145	249	2	impact	impact	NOUN
gujaf-145	249	3	of	of	ADP
gujaf-145	249	4	managerial	managerial	ADJ
gujaf-145	249	5	ownership	ownership	NOUN
gujaf-145	249	6	on	on	ADP
gujaf-145	249	7	the	the	DET
gujaf-145	249	8	stock	stock	NOUN
gujaf-145	249	9	returns	return	NOUN
gujaf-145	249	10	of	of	ADP
gujaf-145	249	11	nigerian	nigerian	ADJ
gujaf-145	249	12	consumer	consumer	NOUN
gujaf-145	249	13	goods	good	NOUN
gujaf-145	249	14	companies	company	NOUN
gujaf-145	249	15	is	be	AUX
gujaf-145	249	16	also	also	ADV
gujaf-145	249	17	examined	examine	VERB
gujaf-145	249	18	in	in	ADP
gujaf-145	249	19	this	this	DET
gujaf-145	249	20	study	study	NOUN
gujaf-145	249	21	.	.	PUNCT
gujaf-145	250	1	the	the	DET
gujaf-145	250	2	study	study	NOUN
gujaf-145	250	3	's	's	PART
gujaf-145	250	4	findings	finding	NOUN
gujaf-145	250	5	demonstrate	demonstrate	VERB
gujaf-145	250	6	that	that	SCONJ
gujaf-145	250	7	managerial	managerial	ADJ
gujaf-145	250	8	ownership	ownership	NOUN
gujaf-145	250	9	in	in	ADP
gujaf-145	250	10	the	the	DET
gujaf-145	250	11	study	study	NOUN
gujaf-145	250	12	's	's	PART
gujaf-145	250	13	focus	focus	NOUN
gujaf-145	250	14	area	area	NOUN
gujaf-145	250	15	has	have	VERB
gujaf-145	250	16	no	no	DET
gujaf-145	250	17	statistically	statistically	ADV
gujaf-145	250	18	significant	significant	ADJ
gujaf-145	250	19	effect	effect	NOUN
gujaf-145	250	20	on	on	ADP
gujaf-145	250	21	stock	stock	NOUN
gujaf-145	250	22	returns	return	NOUN
gujaf-145	250	23	.	.	PUNCT
gujaf-145	251	1	as	as	ADP
gujaf-145	251	2	a	a	DET
gujaf-145	251	3	result	result	NOUN
gujaf-145	251	4	,	,	PUNCT
gujaf-145	251	5	holding	hold	VERB
gujaf-145	251	6	managerial	managerial	ADJ
gujaf-145	251	7	stock	stock	NOUN
gujaf-145	251	8	has	have	VERB
gujaf-145	251	9	no	no	DET
gujaf-145	251	10	impact	impact	NOUN
gujaf-145	251	11	on	on	ADP
gujaf-145	251	12	stock	stock	NOUN
gujaf-145	251	13	returns	return	NOUN
gujaf-145	251	14	.	.	PUNCT
gujaf-145	252	1	changes	change	NOUN
gujaf-145	252	2	in	in	ADP
gujaf-145	252	3	the	the	DET
gujaf-145	252	4	management	management	NOUN
gujaf-145	252	5	's	's	PART
gujaf-145	252	6	shareholding	shareholding	NOUN
gujaf-145	252	7	have	have	VERB
gujaf-145	252	8	no	no	DET
gujaf-145	252	9	impact	impact	NOUN
gujaf-145	252	10	on	on	ADP
gujaf-145	252	11	shareholder	shareholder	NOUN
gujaf-145	252	12	returns	return	NOUN
gujaf-145	252	13	as	as	ADP
gujaf-145	252	14	a	a	DET
gujaf-145	252	15	result	result	NOUN
gujaf-145	252	16	.	.	PUNCT
gujaf-145	253	1	a	a	DET
gujaf-145	253	2	change	change	NOUN
gujaf-145	253	3	in	in	ADP
gujaf-145	253	4	managerial	managerial	ADJ
gujaf-145	253	5	shareholding	shareholding	NOUN
gujaf-145	253	6	has	have	VERB
gujaf-145	253	7	no	no	DET
gujaf-145	253	8	effect	effect	NOUN
gujaf-145	253	9	on	on	ADP
gujaf-145	253	10	shareholder	shareholder	NOUN
gujaf-145	253	11	returns	return	NOUN
gujaf-145	253	12	as	as	ADP
gujaf-145	253	13	a	a	DET
gujaf-145	253	14	result	result	NOUN
gujaf-145	253	15	.	.	PUNCT
gujaf-145	254	1	this	this	DET
gujaf-145	254	2	finding	finding	NOUN
gujaf-145	254	3	challenges	challenge	VERB
gujaf-145	254	4	the	the	DET
gujaf-145	254	5	conventional	conventional	ADJ
gujaf-145	254	6	wisdom	wisdom	NOUN
gujaf-145	254	7	that	that	PRON
gujaf-145	254	8	managerial	managerial	ADJ
gujaf-145	254	9	ownership	ownership	NOUN
gujaf-145	254	10	enhances	enhance	VERB
gujaf-145	254	11	firm	firm	ADJ
gujaf-145	254	12	performance	performance	NOUN
gujaf-145	254	13	because	because	SCONJ
gujaf-145	254	14	directors	director	NOUN
gujaf-145	254	15	are	be	AUX
gujaf-145	254	16	expected	expect	VERB
gujaf-145	254	17	to	to	PART
gujaf-145	254	18	act	act	VERB
gujaf-145	254	19	wisely	wisely	ADV
gujaf-145	254	20	because	because	SCONJ
gujaf-145	254	21	they	they	PRON
gujaf-145	254	22	hold	hold	VERB
gujaf-145	254	23	stock	stock	NOUN
gujaf-145	254	24	in	in	ADP
gujaf-145	254	25	the	the	DET
gujaf-145	254	26	company	company	NOUN
gujaf-145	254	27	and	and	CCONJ
gujaf-145	254	28	have	have	VERB
gujaf-145	254	29	an	an	DET
gujaf-145	254	30	interest	interest	NOUN
gujaf-145	254	31	in	in	ADP
gujaf-145	254	32	the	the	DET
gujaf-145	254	33	results	result	NOUN
gujaf-145	254	34	.	.	PUNCT
gujaf-145	255	1	as	as	ADP
gujaf-145	255	2	a	a	DET
gujaf-145	255	3	result	result	NOUN
gujaf-145	255	4	,	,	PUNCT
gujaf-145	255	5	with	with	ADP
gujaf-145	255	6	more	more	ADJ
gujaf-145	255	7	shares	share	NOUN
gujaf-145	255	8	held	hold	VERB
gujaf-145	255	9	by	by	ADP
gujaf-145	255	10	directors	director	NOUN
gujaf-145	255	11	,	,	PUNCT
gujaf-145	255	12	the	the	DET
gujaf-145	255	13	stock	stock	NOUN
gujaf-145	255	14	price	price	NOUN
gujaf-145	255	15	should	should	AUX
gujaf-145	255	16	rise	rise	VERB
gujaf-145	255	17	.	.	PUNCT
gujaf-145	256	1	according	accord	VERB
gujaf-145	256	2	to	to	ADP
gujaf-145	256	3	the	the	DET
gujaf-145	256	4	literature	literature	NOUN
gujaf-145	256	5	.	.	PUNCT
gujaf-145	257	1	this	this	DET
gujaf-145	257	2	finding	finding	NOUN
gujaf-145	257	3	is	be	AUX
gujaf-145	257	4	in	in	ADP
gujaf-145	257	5	line	line	NOUN
gujaf-145	257	6	with	with	ADP
gujaf-145	257	7	that	that	PRON
gujaf-145	257	8	of	of	ADP
gujaf-145	257	9	boubaker	boubaker	NOUN
gujaf-145	257	10	(	(	PUNCT
gujaf-145	257	11	2018	2018	NUM
gujaf-145	257	12	)	)	PUNCT
gujaf-145	257	13	and	and	CCONJ
gujaf-145	257	14	contradicts	contradict	VERB
gujaf-145	257	15	those	those	PRON
gujaf-145	257	16	of	of	ADP
gujaf-145	257	17	afriyani	afriyani	NOUN
gujaf-145	257	18	(	(	PUNCT
gujaf-145	257	19	2018	2018	NUM
gujaf-145	257	20	)	)	PUNCT
gujaf-145	257	21	,	,	PUNCT
gujaf-145	257	22	otieno	otieno	ADJ
gujaf-145	257	23	(	(	PUNCT
gujaf-145	257	24	2016	2016	NUM
gujaf-145	257	25	)	)	PUNCT
gujaf-145	257	26	,	,	PUNCT
gujaf-145	257	27	and	and	CCONJ
gujaf-145	257	28	oyerogba	oyerogba	NOUN
gujaf-145	257	29	,	,	PUNCT
gujaf-145	257	30	olaleye	olaleye	NOUN
gujaf-145	257	31	,	,	PUNCT
gujaf-145	257	32	and	and	CCONJ
gujaf-145	257	33	zaccheaus	zaccheaus	PROPN
gujaf-145	257	34	(	(	PUNCT
gujaf-145	257	35	2014	2014	NUM
gujaf-145	257	36	)	)	PUNCT
gujaf-145	257	37	.	.	PUNCT
gujaf-145	258	1	this	this	DET
gujaf-145	258	2	study	study	NOUN
gujaf-145	258	3	also	also	ADV
gujaf-145	258	4	explores	explore	VERB
gujaf-145	258	5	how	how	SCONJ
gujaf-145	258	6	institutional	institutional	ADJ
gujaf-145	258	7	ownership	ownership	NOUN
gujaf-145	258	8	impacts	impact	VERB
gujaf-145	258	9	the	the	DET
gujaf-145	258	10	stock	stock	NOUN
gujaf-145	258	11	returns	return	NOUN
gujaf-145	258	12	of	of	ADP
gujaf-145	258	13	consumer	consumer	NOUN
gujaf-145	258	14	goods	good	NOUN
gujaf-145	258	15	companies	company	NOUN
gujaf-145	258	16	listed	list	VERB
gujaf-145	258	17	on	on	ADP
gujaf-145	258	18	the	the	DET
gujaf-145	258	19	nigerian	nigerian	ADJ
gujaf-145	258	20	stock	stock	NOUN
gujaf-145	258	21	exchange	exchange	PROPN
gujaf-145	258	22	as	as	ADP
gujaf-145	258	23	a	a	DET
gujaf-145	258	24	monitoring	monitoring	NOUN
gujaf-145	258	25	mechanism	mechanism	NOUN
gujaf-145	258	26	.	.	PUNCT
gujaf-145	259	1	the	the	DET
gujaf-145	259	2	results	result	NOUN
gujaf-145	259	3	demonstrate	demonstrate	VERB
gujaf-145	259	4	that	that	SCONJ
gujaf-145	259	5	institutional	institutional	ADJ
gujaf-145	259	6	investors	investor	NOUN
gujaf-145	259	7	significantly	significantly	ADV
gujaf-145	259	8	influence	influence	VERB
gujaf-145	259	9	how	how	SCONJ
gujaf-145	259	10	stocks	stock	NOUN
gujaf-145	259	11	of	of	ADP
gujaf-145	259	12	companies	company	NOUN
gujaf-145	259	13	in	in	ADP
gujaf-145	259	14	the	the	DET
gujaf-145	259	15	study	study	NOUN
gujaf-145	259	16	's	's	PART
gujaf-145	259	17	area	area	NOUN
gujaf-145	259	18	return	return	NOUN
gujaf-145	259	19	.	.	PUNCT
gujaf-145	260	1	this	this	DET
gujaf-145	260	2	finding	finding	NOUN
gujaf-145	260	3	suggests	suggest	VERB
gujaf-145	260	4	that	that	SCONJ
gujaf-145	260	5	institutional	institutional	ADJ
gujaf-145	260	6	ownership	ownership	NOUN
gujaf-145	260	7	affects	affect	VERB
gujaf-145	260	8	stock	stock	NOUN
gujaf-145	260	9	returns	return	NOUN
gujaf-145	260	10	.	.	PUNCT
gujaf-145	261	1	this	this	DET
gujaf-145	261	2	conclusion	conclusion	NOUN
gujaf-145	261	3	might	might	AUX
gujaf-145	261	4	be	be	AUX
gujaf-145	261	5	accurate	accurate	ADJ
gujaf-145	261	6	given	give	VERB
gujaf-145	261	7	the	the	DET
gujaf-145	261	8	evidence	evidence	NOUN
gujaf-145	261	9	from	from	ADP
gujaf-145	261	10	numerous	numerous	ADJ
gujaf-145	261	11	studies	study	NOUN
gujaf-145	261	12	that	that	SCONJ
gujaf-145	261	13	institutional	institutional	ADJ
gujaf-145	261	14	ownership	ownership	NOUN
gujaf-145	261	15	influences	influence	VERB
gujaf-145	261	16	stock	stock	NOUN
gujaf-145	261	17	returns	return	NOUN
gujaf-145	261	18	.	.	PUNCT
gujaf-145	262	1	stronger	strong	ADJ
gujaf-145	262	2	external	external	ADJ
gujaf-145	262	3	control	control	NOUN
gujaf-145	262	4	over	over	ADP
gujaf-145	262	5	the	the	DET
gujaf-145	262	6	company	company	NOUN
gujaf-145	262	7	may	may	AUX
gujaf-145	262	8	encourage	encourage	VERB
gujaf-145	262	9	managers	manager	NOUN
gujaf-145	262	10	to	to	PART
gujaf-145	262	11	raise	raise	VERB
gujaf-145	262	12	dividend	dividend	NOUN
gujaf-145	262	13	payments	payment	NOUN
gujaf-145	262	14	as	as	ADP
gujaf-145	262	15	institutional	institutional	ADJ
gujaf-145	262	16	ownership	ownership	NOUN
gujaf-145	262	17	increases	increase	NOUN
gujaf-145	262	18	.	.	PUNCT
gujaf-145	263	1	due	due	ADP
gujaf-145	263	2	to	to	ADP
gujaf-145	263	3	the	the	DET
gujaf-145	263	4	fact	fact	NOUN
gujaf-145	263	5	that	that	SCONJ
gujaf-145	263	6	institutional	institutional	ADJ
gujaf-145	263	7	ownership	ownership	NOUN
gujaf-145	263	8	encourages	encourage	VERB
gujaf-145	263	9	more	more	ADV
gujaf-145	263	10	efficient	efficient	ADJ
gujaf-145	263	11	supervision	supervision	NOUN
gujaf-145	263	12	,	,	PUNCT
gujaf-145	263	13	it	it	PRON
gujaf-145	263	14	is	be	AUX
gujaf-145	263	15	crucial	crucial	ADJ
gujaf-145	263	16	to	to	ADP
gujaf-145	263	17	management	management	NOUN
gujaf-145	263	18	monitoring	monitoring	NOUN
gujaf-145	263	19	.	.	PUNCT
gujaf-145	264	1	16	16	NUM
gujaf-145	264	2	however	however	ADV
gujaf-145	264	3	,	,	PUNCT
gujaf-145	264	4	a	a	DET
gujaf-145	264	5	number	number	NOUN
gujaf-145	264	6	of	of	ADP
gujaf-145	264	7	arguments	argument	NOUN
gujaf-145	264	8	contend	contend	VERB
gujaf-145	264	9	that	that	SCONJ
gujaf-145	264	10	institutional	institutional	ADJ
gujaf-145	264	11	investors	investor	NOUN
gujaf-145	264	12	may	may	AUX
gujaf-145	264	13	not	not	PART
gujaf-145	264	14	restrict	restrict	VERB
gujaf-145	264	15	managers	manager	NOUN
gujaf-145	264	16	'	'	PART
gujaf-145	264	17	ability	ability	NOUN
gujaf-145	264	18	to	to	PART
gujaf-145	264	19	decide	decide	VERB
gujaf-145	264	20	how	how	SCONJ
gujaf-145	264	21	to	to	PART
gujaf-145	264	22	allocate	allocate	VERB
gujaf-145	264	23	their	their	PRON
gujaf-145	264	24	profits	profit	NOUN
gujaf-145	264	25	and	and	CCONJ
gujaf-145	264	26	may	may	AUX
gujaf-145	264	27	even	even	ADV
gujaf-145	264	28	increase	increase	VERB
gujaf-145	264	29	their	their	PRON
gujaf-145	264	30	incentives	incentive	NOUN
gujaf-145	264	31	to	to	PART
gujaf-145	264	32	do	do	AUX
gujaf-145	264	33	so	so	ADV
gujaf-145	264	34	.	.	PUNCT
gujaf-145	265	1	this	this	PRON
gujaf-145	265	2	is	be	AUX
gujaf-145	265	3	based	base	VERB
gujaf-145	265	4	on	on	ADP
gujaf-145	265	5	the	the	DET
gujaf-145	265	6	justification	justification	NOUN
gujaf-145	265	7	that	that	SCONJ
gujaf-145	265	8	institutional	institutional	ADJ
gujaf-145	265	9	investors	investor	NOUN
gujaf-145	265	10	are	be	AUX
gujaf-145	265	11	unable	unable	ADJ
gujaf-145	265	12	to	to	PART
gujaf-145	265	13	oversee	oversee	VERB
gujaf-145	265	14	management	management	NOUN
gujaf-145	265	15	because	because	SCONJ
gujaf-145	265	16	they	they	PRON
gujaf-145	265	17	are	be	AUX
gujaf-145	265	18	overly	overly	ADV
gujaf-145	265	19	focused	focused	ADJ
gujaf-145	265	20	on	on	ADP
gujaf-145	265	21	short	short	ADJ
gujaf-145	265	22	-	-	PUNCT
gujaf-145	265	23	term	term	NOUN
gujaf-145	265	24	financial	financial	ADJ
gujaf-145	265	25	results	result	NOUN
gujaf-145	265	26	.	.	PUNCT
gujaf-145	266	1	the	the	DET
gujaf-145	266	2	agency	agency	NOUN
gujaf-145	266	3	theory	theory	NOUN
gujaf-145	266	4	,	,	PUNCT
gujaf-145	266	5	which	which	PRON
gujaf-145	266	6	aims	aim	VERB
gujaf-145	266	7	to	to	PART
gujaf-145	266	8	resolve	resolve	VERB
gujaf-145	266	9	the	the	DET
gujaf-145	266	10	conflict	conflict	NOUN
gujaf-145	266	11	of	of	ADP
gujaf-145	266	12	interest	interest	NOUN
gujaf-145	266	13	between	between	ADP
gujaf-145	266	14	management	management	NOUN
gujaf-145	266	15	and	and	CCONJ
gujaf-145	266	16	owners	owner	NOUN
gujaf-145	266	17	,	,	PUNCT
gujaf-145	266	18	is	be	AUX
gujaf-145	266	19	supported	support	VERB
gujaf-145	266	20	by	by	ADP
gujaf-145	266	21	this	this	DET
gujaf-145	266	22	finding	finding	NOUN
gujaf-145	266	23	.	.	PUNCT
gujaf-145	267	1	the	the	DET
gujaf-145	267	2	findings	finding	NOUN
gujaf-145	267	3	of	of	ADP
gujaf-145	267	4	amal	amal	PROPN
gujaf-145	267	5	and	and	CCONJ
gujaf-145	267	6	ahmed	ahmed	PROPN
gujaf-145	267	7	(	(	PUNCT
gujaf-145	267	8	2017	2017	NUM
gujaf-145	267	9	)	)	PUNCT
gujaf-145	267	10	are	be	AUX
gujaf-145	267	11	at	at	ADP
gujaf-145	267	12	odds	odd	NOUN
gujaf-145	267	13	with	with	ADP
gujaf-145	267	14	those	those	PRON
gujaf-145	267	15	of	of	ADP
gujaf-145	267	16	the	the	DET
gujaf-145	267	17	present	present	ADJ
gujaf-145	267	18	study	study	NOUN
gujaf-145	267	19	,	,	PUNCT
gujaf-145	267	20	whereas	whereas	SCONJ
gujaf-145	267	21	those	those	PRON
gujaf-145	267	22	of	of	ADP
gujaf-145	267	23	mbatuegwu	mbatuegwu	PROPN
gujaf-145	267	24	,	,	PUNCT
gujaf-145	267	25	uche	uche	PROPN
gujaf-145	267	26	,	,	PUNCT
gujaf-145	267	27	and	and	CCONJ
gujaf-145	267	28	azah	azah	NOUN
gujaf-145	267	29	(	(	PUNCT
gujaf-145	267	30	2019	2019	NUM
gujaf-145	267	31	)	)	PUNCT
gujaf-145	267	32	,	,	PUNCT
gujaf-145	267	33	boubaker	boubaker	NOUN
gujaf-145	267	34	(	(	PUNCT
gujaf-145	267	35	2018	2018	NUM
gujaf-145	267	36	)	)	PUNCT
gujaf-145	267	37	,	,	PUNCT
gujaf-145	267	38	and	and	CCONJ
gujaf-145	267	39	afriyani	afriyani	NOUN
gujaf-145	267	40	(	(	PUNCT
gujaf-145	267	41	2018	2018	NUM
gujaf-145	267	42	)	)	PUNCT
gujaf-145	267	43	are	be	AUX
gujaf-145	267	44	in	in	ADP
gujaf-145	267	45	agreement	agreement	NOUN
gujaf-145	267	46	.	.	PUNCT
gujaf-145	268	1	5	5	X
gujaf-145	268	2	.	.	X
gujaf-145	268	3	conclusion	conclusion	NOUN
gujaf-145	268	4	and	and	CCONJ
gujaf-145	268	5	recommendations	recommendation	NOUN
gujaf-145	268	6	in	in	ADP
gujaf-145	268	7	the	the	DET
gujaf-145	268	8	literature	literature	NOUN
gujaf-145	268	9	on	on	ADP
gujaf-145	268	10	accounting	accounting	NOUN
gujaf-145	268	11	and	and	CCONJ
gujaf-145	268	12	finance	finance	NOUN
gujaf-145	268	13	,	,	PUNCT
gujaf-145	268	14	stock	stock	NOUN
gujaf-145	268	15	returns	return	NOUN
gujaf-145	268	16	and	and	CCONJ
gujaf-145	268	17	how	how	SCONJ
gujaf-145	268	18	they	they	PRON
gujaf-145	268	19	affect	affect	VERB
gujaf-145	268	20	business	business	NOUN
gujaf-145	268	21	operations	operation	NOUN
gujaf-145	268	22	have	have	AUX
gujaf-145	268	23	gained	gain	VERB
gujaf-145	268	24	a	a	DET
gujaf-145	268	25	lot	lot	NOUN
gujaf-145	268	26	of	of	ADP
gujaf-145	268	27	attention	attention	NOUN
gujaf-145	268	28	.	.	PUNCT
gujaf-145	269	1	this	this	DET
gujaf-145	269	2	study	study	NOUN
gujaf-145	269	3	made	make	VERB
gujaf-145	269	4	an	an	DET
gujaf-145	269	5	effort	effort	NOUN
gujaf-145	269	6	to	to	PART
gujaf-145	269	7	look	look	VERB
gujaf-145	269	8	into	into	ADP
gujaf-145	269	9	how	how	SCONJ
gujaf-145	269	10	three	three	NUM
gujaf-145	269	11	corporate	corporate	ADJ
gujaf-145	269	12	properties	property	NOUN
gujaf-145	269	13	affected	affect	VERB
gujaf-145	269	14	publicly	publicly	ADV
gujaf-145	269	15	traded	trade	VERB
gujaf-145	269	16	consumer	consumer	NOUN
gujaf-145	269	17	goods	good	NOUN
gujaf-145	269	18	companies	company	NOUN
gujaf-145	269	19	in	in	ADP
gujaf-145	269	20	nigeria	nigeria	PROPN
gujaf-145	269	21	's	's	PART
gujaf-145	269	22	stock	stock	NOUN
gujaf-145	269	23	returns	return	NOUN
gujaf-145	269	24	.	.	PUNCT
gujaf-145	270	1	when	when	SCONJ
gujaf-145	270	2	the	the	DET
gujaf-145	270	3	factors	factor	NOUN
gujaf-145	270	4	are	be	AUX
gujaf-145	270	5	taken	take	VERB
gujaf-145	270	6	into	into	ADP
gujaf-145	270	7	account	account	NOUN
gujaf-145	270	8	separately	separately	ADV
gujaf-145	270	9	,	,	PUNCT
gujaf-145	270	10	the	the	DET
gujaf-145	270	11	effect	effect	NOUN
gujaf-145	270	12	is	be	AUX
gujaf-145	270	13	diminished	diminish	VERB
gujaf-145	270	14	.	.	PUNCT
gujaf-145	271	1	in	in	ADP
gujaf-145	271	2	particular	particular	ADJ
gujaf-145	271	3	,	,	PUNCT
gujaf-145	271	4	the	the	DET
gujaf-145	271	5	study	study	NOUN
gujaf-145	271	6	concludes	conclude	VERB
gujaf-145	271	7	that	that	SCONJ
gujaf-145	271	8	managerial	managerial	ADJ
gujaf-145	271	9	ownership	ownership	NOUN
gujaf-145	271	10	has	have	VERB
gujaf-145	271	11	no	no	DET
gujaf-145	271	12	discernible	discernible	ADJ
gujaf-145	271	13	effect	effect	NOUN
gujaf-145	271	14	on	on	ADP
gujaf-145	271	15	stock	stock	NOUN
gujaf-145	271	16	returns	return	NOUN
gujaf-145	271	17	.	.	PUNCT
gujaf-145	272	1	the	the	DET
gujaf-145	272	2	study	study	NOUN
gujaf-145	272	3	finds	find	VERB
gujaf-145	272	4	that	that	SCONJ
gujaf-145	272	5	ownership	ownership	NOUN
gujaf-145	272	6	concentration	concentration	NOUN
gujaf-145	272	7	,	,	PUNCT
gujaf-145	272	8	institutional	institutional	ADJ
gujaf-145	272	9	ownership	ownership	NOUN
gujaf-145	272	10	,	,	PUNCT
gujaf-145	272	11	and	and	CCONJ
gujaf-145	272	12	ownership	ownership	NOUN
gujaf-145	272	13	all	all	PRON
gujaf-145	272	14	have	have	VERB
gujaf-145	272	15	a	a	DET
gujaf-145	272	16	significant	significant	ADJ
gujaf-145	272	17	impact	impact	NOUN
gujaf-145	272	18	on	on	ADP
gujaf-145	272	19	stock	stock	NOUN
gujaf-145	272	20	returns	return	NOUN
gujaf-145	272	21	in	in	ADP
gujaf-145	272	22	consumer	consumer	NOUN
gujaf-145	272	23	goods	good	NOUN
gujaf-145	272	24	companies	company	NOUN
gujaf-145	272	25	listed	list	VERB
gujaf-145	272	26	on	on	ADP
gujaf-145	272	27	the	the	DET
gujaf-145	272	28	nigerian	nigerian	ADJ
gujaf-145	272	29	stock	stock	NOUN
gujaf-145	272	30	exchange	exchange	NOUN
gujaf-145	272	31	,	,	PUNCT
gujaf-145	272	32	despite	despite	SCONJ
gujaf-145	272	33	the	the	DET
gujaf-145	272	34	lack	lack	NOUN
gujaf-145	272	35	of	of	ADP
gujaf-145	272	36	statistical	statistical	ADJ
gujaf-145	272	37	evidence	evidence	NOUN
gujaf-145	272	38	to	to	PART
gujaf-145	272	39	support	support	VERB
gujaf-145	272	40	the	the	DET
gujaf-145	272	41	conclusion	conclusion	NOUN
gujaf-145	272	42	that	that	SCONJ
gujaf-145	272	43	these	these	DET
gujaf-145	272	44	variables	variable	NOUN
gujaf-145	272	45	are	be	AUX
gujaf-145	272	46	determinants	determinant	NOUN
gujaf-145	272	47	of	of	ADP
gujaf-145	272	48	stock	stock	NOUN
gujaf-145	272	49	returns	return	NOUN
gujaf-145	272	50	of	of	ADP
gujaf-145	272	51	nigerian	nigerian	PROPN
gujaf-145	272	52	publicly	publicly	ADV
gujaf-145	272	53	traded	trade	VERB
gujaf-145	272	54	consumer	consumer	NOUN
gujaf-145	272	55	goods	good	NOUN
gujaf-145	272	56	companies	company	NOUN
gujaf-145	272	57	.	.	PUNCT
gujaf-145	273	1	with	with	ADP
gujaf-145	273	2	this	this	DET
gujaf-145	273	3	outcome	outcome	NOUN
gujaf-145	273	4	,	,	PUNCT
gujaf-145	273	5	there	there	PRON
gujaf-145	273	6	is	be	VERB
gujaf-145	273	7	statistical	statistical	ADJ
gujaf-145	273	8	evidence	evidence	NOUN
gujaf-145	273	9	to	to	PART
gujaf-145	273	10	conclude	conclude	VERB
gujaf-145	273	11	that	that	SCONJ
gujaf-145	273	12	these	these	DET
gujaf-145	273	13	characteristics	characteristic	NOUN
gujaf-145	273	14	are	be	AUX
gujaf-145	273	15	determinants	determinant	NOUN
gujaf-145	273	16	of	of	ADP
gujaf-145	273	17	stock	stock	NOUN
gujaf-145	273	18	returns	return	NOUN
gujaf-145	273	19	in	in	ADP
gujaf-145	273	20	the	the	DET
gujaf-145	273	21	study	study	NOUN
gujaf-145	273	22	area	area	NOUN
gujaf-145	273	23	.	.	PUNCT
gujaf-145	274	1	additionally	additionally	ADV
gujaf-145	274	2	,	,	PUNCT
gujaf-145	274	3	this	this	DET
gujaf-145	274	4	study	study	NOUN
gujaf-145	274	5	offers	offer	VERB
gujaf-145	274	6	statistical	statistical	ADJ
gujaf-145	274	7	support	support	NOUN
gujaf-145	274	8	for	for	ADP
gujaf-145	274	9	the	the	DET
gujaf-145	274	10	conclusion	conclusion	NOUN
gujaf-145	274	11	that	that	SCONJ
gujaf-145	274	12	,	,	PUNCT
gujaf-145	274	13	among	among	ADP
gujaf-145	274	14	the	the	DET
gujaf-145	274	15	corporate	corporate	ADJ
gujaf-145	274	16	assets	asset	NOUN
gujaf-145	274	17	examined	examine	VERB
gujaf-145	274	18	,	,	PUNCT
gujaf-145	274	19	ownership	ownership	NOUN
gujaf-145	274	20	structure	structure	NOUN
gujaf-145	274	21	is	be	AUX
gujaf-145	274	22	a	a	DET
gujaf-145	274	23	more	more	ADV
gujaf-145	274	24	significant	significant	ADJ
gujaf-145	274	25	factor	factor	NOUN
gujaf-145	274	26	in	in	ADP
gujaf-145	274	27	determining	determine	VERB
gujaf-145	274	28	stock	stock	NOUN
gujaf-145	274	29	returns	return	NOUN
gujaf-145	274	30	in	in	ADP
gujaf-145	274	31	the	the	DET
gujaf-145	274	32	study	study	NOUN
gujaf-145	274	33	's	's	PART
gujaf-145	274	34	coverage	coverage	NOUN
gujaf-145	274	35	area	area	NOUN
gujaf-145	274	36	.	.	PUNCT
gujaf-145	275	1	this	this	DET
gujaf-145	275	2	conclusion	conclusion	NOUN
gujaf-145	275	3	is	be	AUX
gujaf-145	275	4	supported	support	VERB
gujaf-145	275	5	by	by	ADP
gujaf-145	275	6	the	the	DET
gujaf-145	275	7	18	18	NUM
gujaf-145	275	8	percent	percent	NOUN
gujaf-145	275	9	r	r	NOUN
gujaf-145	275	10	-	-	PUNCT
gujaf-145	275	11	squared	square	VERB
gujaf-145	275	12	result	result	NOUN
gujaf-145	275	13	.	.	PUNCT
gujaf-145	276	1	based	base	VERB
gujaf-145	276	2	on	on	ADP
gujaf-145	276	3	interviews	interview	NOUN
gujaf-145	276	4	with	with	ADP
gujaf-145	276	5	a	a	DET
gujaf-145	276	6	variety	variety	NOUN
gujaf-145	276	7	of	of	ADP
gujaf-145	276	8	people	people	NOUN
gujaf-145	276	9	and	and	CCONJ
gujaf-145	276	10	organizations	organization	NOUN
gujaf-145	276	11	involved	involve	VERB
gujaf-145	276	12	directly	directly	ADV
gujaf-145	276	13	or	or	CCONJ
gujaf-145	276	14	indirectly	indirectly	ADV
gujaf-145	276	15	with	with	ADP
gujaf-145	276	16	ownership	ownership	NOUN
gujaf-145	276	17	attributes	attribute	NOUN
gujaf-145	276	18	,	,	PUNCT
gujaf-145	276	19	other	other	ADJ
gujaf-145	276	20	corporate	corporate	ADJ
gujaf-145	276	21	properties	property	NOUN
gujaf-145	276	22	,	,	PUNCT
gujaf-145	276	23	and	and	CCONJ
gujaf-145	276	24	stock	stock	NOUN
gujaf-145	276	25	return	return	NOUN
gujaf-145	276	26	processes	process	NOUN
gujaf-145	276	27	in	in	ADP
gujaf-145	276	28	nigeria	nigeria	PROPN
gujaf-145	276	29	,	,	PUNCT
gujaf-145	276	30	the	the	DET
gujaf-145	276	31	study	study	NOUN
gujaf-145	276	32	makes	make	VERB
gujaf-145	276	33	the	the	DET
gujaf-145	276	34	following	follow	VERB
gujaf-145	276	35	recommendations	recommendation	NOUN
gujaf-145	276	36	:	:	PUNCT
gujaf-145	276	37	i.	i.	NOUN
gujaf-145	276	38	to	to	PART
gujaf-145	276	39	start	start	VERB
gujaf-145	276	40	,	,	PUNCT
gujaf-145	276	41	the	the	DET
gujaf-145	276	42	study	study	NOUN
gujaf-145	276	43	offered	offer	VERB
gujaf-145	276	44	statistical	statistical	ADJ
gujaf-145	276	45	and	and	CCONJ
gujaf-145	276	46	empirical	empirical	ADJ
gujaf-145	276	47	proof	proof	NOUN
gujaf-145	276	48	in	in	ADP
gujaf-145	276	49	support	support	NOUN
gujaf-145	276	50	of	of	ADP
gujaf-145	276	51	the	the	DET
gujaf-145	276	52	idea	idea	NOUN
gujaf-145	276	53	that	that	SCONJ
gujaf-145	276	54	ownership	ownership	NOUN
gujaf-145	276	55	characteristics	characteristic	NOUN
gujaf-145	276	56	significantly	significantly	ADV
gujaf-145	276	57	affect	affect	VERB
gujaf-145	276	58	stock	stock	NOUN
gujaf-145	276	59	returns	return	NOUN
gujaf-145	276	60	among	among	ADP
gujaf-145	276	61	nigerian	nigerian	PROPN
gujaf-145	276	62	publicly	publicly	ADV
gujaf-145	276	63	traded	trade	VERB
gujaf-145	276	64	consumer	consumer	NOUN
gujaf-145	276	65	goods	good	NOUN
gujaf-145	276	66	firms	firm	NOUN
gujaf-145	276	67	.	.	PUNCT
gujaf-145	277	1	therefore	therefore	ADV
gujaf-145	277	2	,	,	PUNCT
gujaf-145	277	3	in	in	ADP
gujaf-145	277	4	order	order	NOUN
gujaf-145	277	5	to	to	PART
gujaf-145	277	6	safeguard	safeguard	VERB
gujaf-145	277	7	investors	investor	NOUN
gujaf-145	277	8	and	and	CCONJ
gujaf-145	277	9	potential	potential	ADJ
gujaf-145	277	10	investors	investor	NOUN
gujaf-145	277	11	from	from	ADP
gujaf-145	277	12	potential	potential	ADJ
gujaf-145	277	13	scams	scam	NOUN
gujaf-145	277	14	,	,	PUNCT
gujaf-145	277	15	it	it	PRON
gujaf-145	277	16	is	be	AUX
gujaf-145	277	17	advised	advise	VERB
gujaf-145	277	18	that	that	SCONJ
gujaf-145	277	19	the	the	DET
gujaf-145	277	20	securities	securities	PROPN
gujaf-145	277	21	and	and	CCONJ
gujaf-145	277	22	exchange	exchange	PROPN
gujaf-145	277	23	commission	commission	PROPN
gujaf-145	277	24	(	(	PUNCT
gujaf-145	277	25	sec	sec	PROPN
gujaf-145	277	26	)	)	PUNCT
gujaf-145	277	27	subject	subject	ADJ
gujaf-145	277	28	17	17	NUM
gujaf-145	277	29	consumer	consumer	NOUN
gujaf-145	277	30	sector	sector	NOUN
gujaf-145	277	31	ownership	ownership	NOUN
gujaf-145	277	32	to	to	ADP
gujaf-145	277	33	regular	regular	ADJ
gujaf-145	277	34	stress	stress	NOUN
gujaf-145	277	35	quality	quality	NOUN
gujaf-145	277	36	tests	test	NOUN
gujaf-145	277	37	.	.	PUNCT
gujaf-145	278	1	according	accord	VERB
gujaf-145	278	2	to	to	ADP
gujaf-145	278	3	the	the	DET
gujaf-145	278	4	study	study	NOUN
gujaf-145	278	5	,	,	PUNCT
gujaf-145	278	6	consumer	consumer	NOUN
gujaf-145	278	7	goods	good	NOUN
gujaf-145	278	8	companies	company	NOUN
gujaf-145	278	9	should	should	AUX
gujaf-145	278	10	promote	promote	VERB
gujaf-145	278	11	greater	great	ADJ
gujaf-145	278	12	institutional	institutional	ADJ
gujaf-145	278	13	ownership	ownership	NOUN
gujaf-145	278	14	.	.	PUNCT
gujaf-145	279	1	this	this	PRON
gujaf-145	279	2	is	be	AUX
gujaf-145	279	3	based	base	VERB
gujaf-145	279	4	on	on	ADP
gujaf-145	279	5	the	the	DET
gujaf-145	279	6	idea	idea	NOUN
gujaf-145	279	7	that	that	SCONJ
gujaf-145	279	8	institutional	institutional	ADJ
gujaf-145	279	9	ownership	ownership	NOUN
gujaf-145	279	10	has	have	AUX
gujaf-145	279	11	an	an	DET
gujaf-145	279	12	effect	effect	NOUN
gujaf-145	279	13	on	on	ADP
gujaf-145	279	14	stock	stock	NOUN
gujaf-145	279	15	returns	return	NOUN
gujaf-145	279	16	because	because	SCONJ
gujaf-145	279	17	it	it	PRON
gujaf-145	279	18	strengthens	strengthen	VERB
gujaf-145	279	19	the	the	DET
gujaf-145	279	20	company	company	NOUN
gujaf-145	279	21	's	's	PART
gujaf-145	279	22	external	external	ADJ
gujaf-145	279	23	control	control	NOUN
gujaf-145	279	24	,	,	PUNCT
gujaf-145	279	25	which	which	PRON
gujaf-145	279	26	can	can	AUX
gujaf-145	279	27	incentivize	incentivize	VERB
gujaf-145	279	28	managers	manager	NOUN
gujaf-145	279	29	to	to	PART
gujaf-145	279	30	raise	raise	VERB
gujaf-145	279	31	dividend	dividend	NOUN
gujaf-145	279	32	payments	payment	NOUN
gujaf-145	279	33	,	,	PUNCT
gujaf-145	279	34	as	as	ADP
gujaf-145	279	35	institutional	institutional	ADJ
gujaf-145	279	36	ownership	ownership	NOUN
gujaf-145	279	37	increases	increase	NOUN
gujaf-145	279	38	.	.	PUNCT
gujaf-145	280	1	ii	ii	X
gujaf-145	280	2	.	.	PUNCT
gujaf-145	281	1	the	the	DET
gujaf-145	281	2	sec	sec	PROPN
gujaf-145	281	3	should	should	AUX
gujaf-145	281	4	provide	provide	VERB
gujaf-145	281	5	an	an	DET
gujaf-145	281	6	incentive	incentive	NOUN
gujaf-145	281	7	in	in	ADP
gujaf-145	281	8	the	the	DET
gujaf-145	281	9	form	form	NOUN
gujaf-145	281	10	of	of	ADP
gujaf-145	281	11	a	a	DET
gujaf-145	281	12	commendation	commendation	NOUN
gujaf-145	281	13	to	to	ADP
gujaf-145	281	14	firms	firm	NOUN
gujaf-145	281	15	that	that	PRON
gujaf-145	281	16	disclose	disclose	VERB
gujaf-145	281	17	accounting	accounting	NOUN
gujaf-145	281	18	information	information	NOUN
gujaf-145	281	19	necessary	necessary	ADJ
gujaf-145	281	20	for	for	ADP
gujaf-145	281	21	assessing	assess	VERB
gujaf-145	281	22	the	the	DET
gujaf-145	281	23	quality	quality	NOUN
gujaf-145	281	24	of	of	ADP
gujaf-145	281	25	their	their	PRON
gujaf-145	281	26	profitability	profitability	NOUN
gujaf-145	281	27	and	and	CCONJ
gujaf-145	281	28	earnings	earning	NOUN
gujaf-145	281	29	,	,	PUNCT
gujaf-145	281	30	as	as	ADV
gujaf-145	281	31	well	well	ADV
gujaf-145	281	32	as	as	ADP
gujaf-145	281	33	a	a	DET
gujaf-145	281	34	penalty	penalty	NOUN
gujaf-145	281	35	through	through	ADP
gujaf-145	281	36	rebuttal	rebuttal	NOUN
gujaf-145	281	37	to	to	ADP
gujaf-145	281	38	firms	firm	NOUN
gujaf-145	281	39	that	that	PRON
gujaf-145	281	40	do	do	AUX
gujaf-145	281	41	not	not	PART
gujaf-145	281	42	disclose	disclose	VERB
gujaf-145	281	43	fully	fully	ADV
gujaf-145	281	44	.	.	PUNCT
gujaf-145	282	1	this	this	PRON
gujaf-145	282	2	is	be	AUX
gujaf-145	282	3	because	because	SCONJ
gujaf-145	282	4	fraudulent	fraudulent	ADJ
gujaf-145	282	5	reporting	reporting	NOUN
gujaf-145	282	6	misinforms	misinform	VERB
gujaf-145	282	7	the	the	DET
gujaf-145	282	8	market	market	NOUN
gujaf-145	282	9	,	,	PUNCT
gujaf-145	282	10	causing	cause	VERB
gujaf-145	282	11	stock	stock	NOUN
gujaf-145	282	12	prices	price	NOUN
gujaf-145	282	13	to	to	PART
gujaf-145	282	14	rise	rise	VERB
gujaf-145	282	15	based	base	VERB
gujaf-145	282	16	on	on	ADP
gujaf-145	282	17	false	false	ADJ
gujaf-145	282	18	representations	representation	NOUN
gujaf-145	282	19	this	this	DET
gujaf-145	282	20	paper	paper	NOUN
gujaf-145	282	21	's	's	PART
gujaf-145	282	22	significant	significant	ADJ
gujaf-145	282	23	contributions	contribution	NOUN
gujaf-145	282	24	will	will	AUX
gujaf-145	282	25	include	include	VERB
gujaf-145	282	26	the	the	DET
gujaf-145	282	27	following	following	NOUN
gujaf-145	282	28	:	:	PUNCT
gujaf-145	282	29	first	first	ADV
gujaf-145	282	30	,	,	PUNCT
gujaf-145	282	31	it	it	PRON
gujaf-145	282	32	will	will	AUX
gujaf-145	282	33	add	add	VERB
gujaf-145	282	34	to	to	ADP
gujaf-145	282	35	the	the	DET
gujaf-145	282	36	existing	exist	VERB
gujaf-145	282	37	body	body	NOUN
gujaf-145	282	38	of	of	ADP
gujaf-145	282	39	knowledge	knowledge	NOUN
gujaf-145	282	40	and	and	CCONJ
gujaf-145	282	41	expand	expand	VERB
gujaf-145	282	42	the	the	DET
gujaf-145	282	43	literature	literature	NOUN
gujaf-145	282	44	on	on	ADP
gujaf-145	282	45	the	the	DET
gujaf-145	282	46	various	various	ADJ
gujaf-145	282	47	factors	factor	NOUN
gujaf-145	282	48	that	that	PRON
gujaf-145	282	49	determine	determine	VERB
gujaf-145	282	50	stock	stock	NOUN
gujaf-145	282	51	returns	return	NOUN
gujaf-145	282	52	of	of	ADP
gujaf-145	282	53	companies	company	NOUN
gujaf-145	282	54	listed	list	VERB
gujaf-145	282	55	on	on	ADP
gujaf-145	282	56	the	the	DET
gujaf-145	282	57	nigerian	nigerian	ADJ
gujaf-145	282	58	stock	stock	NOUN
gujaf-145	282	59	exchange	exchange	PROPN
gujaf-145	282	60	(	(	PUNCT
gujaf-145	282	61	nse	nse	NOUN
gujaf-145	282	62	)	)	PUNCT
gujaf-145	282	63	,	,	PUNCT
gujaf-145	282	64	specifically	specifically	ADV
gujaf-145	282	65	consumer	consumer	NOUN
gujaf-145	282	66	goods	good	NOUN
gujaf-145	282	67	firms	firm	NOUN
gujaf-145	282	68	.	.	PUNCT
gujaf-145	283	1	second	second	ADV
gujaf-145	283	2	,	,	PUNCT
gujaf-145	283	3	the	the	DET
gujaf-145	283	4	study	study	NOUN
gujaf-145	283	5	will	will	AUX
gujaf-145	283	6	go	go	VERB
gujaf-145	283	7	further	far	ADV
gujaf-145	283	8	in	in	ADP
gujaf-145	283	9	providing	provide	VERB
gujaf-145	283	10	additional	additional	ADJ
gujaf-145	283	11	knowledge	knowledge	NOUN
gujaf-145	283	12	on	on	ADP
gujaf-145	283	13	the	the	DET
gujaf-145	283	14	factors	factor	NOUN
gujaf-145	283	15	that	that	PRON
gujaf-145	283	16	rank	rank	VERB
gujaf-145	283	17	as	as	ADP
gujaf-145	283	18	the	the	DET
gujaf-145	283	19	most	most	ADV
gujaf-145	283	20	efficient	efficient	ADJ
gujaf-145	283	21	in	in	ADP
gujaf-145	283	22	predicting	predict	VERB
gujaf-145	283	23	and	and	CCONJ
gujaf-145	283	24	explaining	explain	VERB
gujaf-145	283	25	the	the	DET
gujaf-145	283	26	behavior	behavior	NOUN
gujaf-145	283	27	and	and	CCONJ
gujaf-145	283	28	variations	variation	NOUN
gujaf-145	283	29	of	of	ADP
gujaf-145	283	30	stock	stock	NOUN
gujaf-145	283	31	returns	return	NOUN
gujaf-145	283	32	in	in	ADP
gujaf-145	283	33	nigeria	nigeria	PROPN
gujaf-145	283	34	,	,	PUNCT
gujaf-145	283	35	which	which	PRON
gujaf-145	283	36	will	will	AUX
gujaf-145	283	37	be	be	AUX
gujaf-145	283	38	extremely	extremely	ADV
gujaf-145	283	39	useful	useful	ADJ
gujaf-145	283	40	in	in	ADP
gujaf-145	283	41	adjusting	adjust	VERB
gujaf-145	283	42	their	their	PRON
gujaf-145	283	43	operations	operation	NOUN
gujaf-145	283	44	to	to	ADP
gujaf-145	283	45	that	that	DET
gujaf-145	283	46	impact	impact	NOUN
gujaf-145	283	47	.	.	PUNCT
gujaf-145	284	1	third	third	ADJ
gujaf-145	284	2	,	,	PUNCT
gujaf-145	284	3	second	second	ADJ
gujaf-145	284	4	,	,	PUNCT
gujaf-145	284	5	it	it	PRON
gujaf-145	284	6	will	will	AUX
gujaf-145	284	7	provide	provide	VERB
gujaf-145	284	8	policy	policy	NOUN
gujaf-145	284	9	guidance	guidance	NOUN
gujaf-145	284	10	to	to	ADP
gujaf-145	284	11	regulators	regulator	NOUN
gujaf-145	284	12	and/or	and/or	CCONJ
gujaf-145	284	13	policymakers	policymaker	NOUN
gujaf-145	284	14	,	,	PUNCT
gujaf-145	284	15	including	include	VERB
gujaf-145	284	16	the	the	DET
gujaf-145	284	17	securities	securities	PROPN
gujaf-145	284	18	and	and	CCONJ
gujaf-145	284	19	exchange	exchange	PROPN
gujaf-145	284	20	commission	commission	PROPN
gujaf-145	284	21	(	(	PUNCT
gujaf-145	284	22	sec	sec	PROPN
gujaf-145	284	23	)	)	PUNCT
gujaf-145	284	24	and	and	CCONJ
gujaf-145	284	25	the	the	DET
gujaf-145	284	26	central	central	ADJ
gujaf-145	284	27	bank	bank	PROPN
gujaf-145	284	28	of	of	ADP
gujaf-145	284	29	nigeria	nigeria	PROPN
gujaf-145	284	30	.	.	PUNCT
gujaf-145	285	1	this	this	PRON
gujaf-145	285	2	will	will	AUX
gujaf-145	285	3	be	be	AUX
gujaf-145	285	4	with	with	ADP
gujaf-145	285	5	respect	respect	NOUN
gujaf-145	285	6	to	to	ADP
gujaf-145	285	7	regulating	regulate	VERB
gujaf-145	285	8	the	the	DET
gujaf-145	285	9	composition	composition	NOUN
gujaf-145	285	10	of	of	ADP
gujaf-145	285	11	variables	variable	NOUN
gujaf-145	285	12	to	to	PART
gujaf-145	285	13	achieve	achieve	VERB
gujaf-145	285	14	better	well	ADJ
gujaf-145	285	15	management	management	NOUN
gujaf-145	285	16	,	,	PUNCT
gujaf-145	285	17	governance	governance	NOUN
gujaf-145	285	18	,	,	PUNCT
gujaf-145	285	19	and	and	CCONJ
gujaf-145	285	20	performance	performance	NOUN
gujaf-145	285	21	standards	standard	NOUN
gujaf-145	285	22	.	.	PUNCT
gujaf-145	286	1	limitations	limitation	NOUN
gujaf-145	286	2	of	of	ADP
gujaf-145	286	3	the	the	DET
gujaf-145	286	4	study	study	NOUN
gujaf-145	286	5	:	:	PUNCT
gujaf-145	286	6	only	only	ADV
gujaf-145	286	7	publicly	publicly	ADV
gujaf-145	286	8	traded	trade	VERB
gujaf-145	286	9	consumer	consumer	NOUN
gujaf-145	286	10	goods	good	NOUN
gujaf-145	286	11	companies	company	NOUN
gujaf-145	286	12	in	in	ADP
gujaf-145	286	13	nigeria	nigeria	PROPN
gujaf-145	286	14	are	be	AUX
gujaf-145	286	15	included	include	VERB
gujaf-145	286	16	in	in	ADP
gujaf-145	286	17	the	the	DET
gujaf-145	286	18	study	study	NOUN
gujaf-145	286	19	;	;	PUNCT
gujaf-145	286	20	the	the	DET
gujaf-145	286	21	conclusions	conclusion	NOUN
gujaf-145	286	22	and	and	CCONJ
gujaf-145	286	23	suggestions	suggestion	NOUN
gujaf-145	286	24	only	only	ADV
gujaf-145	286	25	apply	apply	VERB
gujaf-145	286	26	to	to	ADP
gujaf-145	286	27	consumer	consumer	NOUN
gujaf-145	286	28	goods	good	NOUN
gujaf-145	286	29	firms	firm	NOUN
gujaf-145	286	30	;	;	PUNCT
gujaf-145	286	31	other	other	ADJ
gujaf-145	286	32	studies	study	NOUN
gujaf-145	286	33	may	may	AUX
gujaf-145	286	34	take	take	VERB
gujaf-145	286	35	into	into	ADP
gujaf-145	286	36	account	account	NOUN
gujaf-145	286	37	other	other	ADJ
gujaf-145	286	38	properties	property	NOUN
gujaf-145	286	39	that	that	PRON
gujaf-145	286	40	were	be	AUX
gujaf-145	286	41	not	not	PART
gujaf-145	286	42	considered	consider	VERB
gujaf-145	286	43	in	in	ADP
gujaf-145	286	44	this	this	DET
gujaf-145	286	45	study	study	NOUN
gujaf-145	286	46	.	.	PUNCT
gujaf-145	287	1	references	reference	NOUN
gujaf-145	287	2	acikalin	acikalin	PROPN
gujaf-145	287	3	,	,	PUNCT
gujaf-145	287	4	s.	s.	PROPN
gujaf-145	287	5	,	,	PUNCT
gujaf-145	287	6	aktas	aktas	PROPN
gujaf-145	287	7	,	,	PUNCT
gujaf-145	287	8	r.	r.	PROPN
gujaf-145	287	9	,	,	PUNCT
gujaf-145	287	10	&	&	CCONJ
gujaf-145	287	11	unal	unal	ADJ
gujaf-145	287	12	,	,	PUNCT
gujaf-145	287	13	s.	s.	PROPN
gujaf-145	287	14	(	(	PUNCT
gujaf-145	287	15	2008	2008	NUM
gujaf-145	287	16	)	)	PUNCT
gujaf-145	287	17	.	.	PUNCT
gujaf-145	288	1	relationships	relationship	NOUN
gujaf-145	288	2	between	between	ADP
gujaf-145	288	3	stock	stock	NOUN
gujaf-145	288	4	markets	market	NOUN
gujaf-145	288	5	and	and	CCONJ
gujaf-145	288	6	macroeconomic	macroeconomic	ADJ
gujaf-145	288	7	variables	variable	NOUN
gujaf-145	288	8	:	:	PUNCT
gujaf-145	288	9	an	an	DET
gujaf-145	288	10	empirical	empirical	ADJ
gujaf-145	288	11	analysis	analysis	NOUN
gujaf-145	288	12	of	of	ADP
gujaf-145	288	13	the	the	DET
gujaf-145	288	14	istanbul	istanbul	PROPN
gujaf-145	288	15	stock	stock	PROPN
gujaf-145	288	16	exchange	exchange	PROPN
gujaf-145	288	17	.	.	PUNCT
gujaf-145	289	1	investment	investment	NOUN
gujaf-145	289	2	management	management	NOUN
gujaf-145	289	3	and	and	CCONJ
gujaf-145	289	4	financial	financial	ADJ
gujaf-145	289	5	innovations	innovation	NOUN
gujaf-145	289	6	,	,	PUNCT
gujaf-145	289	7	5(1	5(1	NUM
gujaf-145	289	8	)	)	PUNCT
gujaf-145	289	9	,	,	PUNCT
gujaf-145	289	10	7	7	NUM
gujaf-145	289	11	-	-	SYM
gujaf-145	289	12	16	16	NUM
gujaf-145	289	13	.	.	PUNCT
gujaf-145	290	1	adams	adams	PROPN
gujaf-145	290	2	r.	r.	PROPN
gujaf-145	290	3	b.	b.	PROPN
gujaf-145	290	4	,	,	PUNCT
gujaf-145	290	5	&	&	CCONJ
gujaf-145	290	6	mehran	mehran	PROPN
gujaf-145	290	7	,	,	PUNCT
gujaf-145	290	8	h.	h.	PROPN
gujaf-145	290	9	,	,	PUNCT
gujaf-145	290	10	(	(	PUNCT
gujaf-145	290	11	2003	2003	NUM
gujaf-145	290	12	)	)	PUNCT
gujaf-145	290	13	bank	bank	NOUN
gujaf-145	290	14	board	board	NOUN
gujaf-145	290	15	structure	structure	NOUN
gujaf-145	290	16	and	and	CCONJ
gujaf-145	290	17	performance	performance	NOUN
gujaf-145	290	18	:	:	PUNCT
gujaf-145	290	19	evidence	evidence	NOUN
gujaf-145	290	20	for	for	ADP
gujaf-145	290	21	large	large	ADJ
gujaf-145	290	22	bank	bank	NOUN
gujaf-145	290	23	holding	hold	VERB
gujaf-145	290	24	companies	company	NOUN
gujaf-145	290	25	.	.	PUNCT
gujaf-145	291	1	journal	journal	PROPN
gujaf-145	291	2	finance	finance	PROPN
gujaf-145	291	3	intermed	interme	VERB
gujaf-145	291	4	21(2):243–267	21(2):243–267	PROPN
gujaf-145	291	5	adedoyin	adedoyin	NOUN
gujaf-145	291	6	,	,	PUNCT
gujaf-145	291	7	a.	a.	NOUN
gujaf-145	291	8	o.	o.	PROPN
gujaf-145	291	9	(	(	PUNCT
gujaf-145	291	10	2011	2011	NUM
gujaf-145	291	11	)	)	PUNCT
gujaf-145	291	12	.	.	PUNCT
gujaf-145	292	1	share	share	NOUN
gujaf-145	292	2	price	price	NOUN
gujaf-145	292	3	determinants	determinant	NOUN
gujaf-145	292	4	and	and	CCONJ
gujaf-145	292	5	corporate	corporate	ADJ
gujaf-145	292	6	characteristics	characteristic	NOUN
gujaf-145	292	7	.	.	PUNCT
gujaf-145	293	1	dissertation	dissertation	NOUN
gujaf-145	293	2	,	,	PUNCT
gujaf-145	293	3	department	department	NOUN
gujaf-145	293	4	of	of	ADP
gujaf-145	293	5	accounting	accounting	PROPN
gujaf-145	293	6	,	,	PUNCT
gujaf-145	293	7	college	college	NOUN
gujaf-145	293	8	of	of	ADP
gujaf-145	293	9	development	development	NOUN
gujaf-145	293	10	studies	study	NOUN
gujaf-145	293	11	,	,	PUNCT
gujaf-145	293	12	covenant	covenant	ADJ
gujaf-145	293	13	university	university	NOUN
gujaf-145	293	14	,	,	PUNCT
gujaf-145	293	15	ogun	ogun	PROPN
gujaf-145	293	16	,	,	PUNCT
gujaf-145	293	17	nigeria	nigeria	PROPN
gujaf-145	293	18	.	.	PUNCT
gujaf-145	294	1	18	18	NUM
gujaf-145	294	2	ahmed	ahme	VERB
gujaf-145	294	3	,	,	PUNCT
gujaf-145	294	4	a.	a.	NOUN
gujaf-145	294	5	(	(	PUNCT
gujaf-145	294	6	2019	2019	NUM
gujaf-145	294	7	)	)	PUNCT
gujaf-145	294	8	.	.	PUNCT
gujaf-145	295	1	auditors	auditor	NOUN
gujaf-145	295	2	‟perceptions	‟perception	NOUN
gujaf-145	295	3	of	of	ADP
gujaf-145	295	4	audit	audit	NOUN
gujaf-145	295	5	firm	firm	ADJ
gujaf-145	295	6	rotation	rotation	NOUN
gujaf-145	295	7	impact	impact	NOUN
gujaf-145	295	8	on	on	ADP
gujaf-145	295	9	audit	audit	NOUN
gujaf-145	295	10	quality	quality	NOUN
gujaf-145	295	11	in	in	ADP
gujaf-145	295	12	egypt	egypt	PROPN
gujaf-145	295	13	.	.	PUNCT
gujaf-145	296	1	journal	journal	PROPN
gujaf-145	296	2	of	of	ADP
gujaf-145	296	3	accounting	accounting	NOUN
gujaf-145	296	4	and	and	CCONJ
gujaf-145	296	5	taxation	taxation	NOUN
gujaf-145	296	6	,	,	PUNCT
gujaf-145	296	7	6	6	NUM
gujaf-145	296	8	(	(	PUNCT
gujaf-145	296	9	1),105120	1),105120	PROPN
gujaf-145	296	10	.	.	PUNCT
gujaf-145	296	11	akwe	akwe	PROPN
gujaf-145	296	12	,	,	PUNCT
gujaf-145	296	13	j.	j.	PROPN
gujaf-145	296	14	,	,	PUNCT
gujaf-145	296	15	ayuba	ayuba	PROPN
gujaf-145	296	16	,	,	PUNCT
gujaf-145	296	17	i.	i.	PROPN
gujaf-145	296	18	,	,	PUNCT
gujaf-145	296	19	&	&	CCONJ
gujaf-145	296	20	dang	dang	PROPN
gujaf-145	296	21	,	,	PUNCT
gujaf-145	296	22	g.	g.	PROPN
gujaf-145	296	23	h.	h.	PROPN
gujaf-145	296	24	,	,	PUNCT
gujaf-145	296	25	(	(	PUNCT
gujaf-145	296	26	2018	2018	NUM
gujaf-145	296	27	)	)	PUNCT
gujaf-145	296	28	.	.	PUNCT
gujaf-145	297	1	effects	effect	NOUN
gujaf-145	297	2	of	of	ADP
gujaf-145	297	3	firm	firm	ADJ
gujaf-145	297	4	level	level	NOUN
gujaf-145	297	5	attributes	attribute	VERB
gujaf-145	297	6	on	on	ADP
gujaf-145	297	7	stock	stock	NOUN
gujaf-145	297	8	returns	return	NOUN
gujaf-145	297	9	in	in	ADP
gujaf-145	297	10	nigeria.doctor	nigeria.doctor	NOUN
gujaf-145	297	11	of	of	ADP
gujaf-145	297	12	philosophy	philosophy	NOUN
gujaf-145	297	13	dissertation	dissertation	NOUN
gujaf-145	297	14	,	,	PUNCT
gujaf-145	297	15	university	university	NOUN
gujaf-145	297	16	of	of	ADP
gujaf-145	297	17	dhaka	dhaka	PROPN
gujaf-145	297	18	.	.	PUNCT
gujaf-145	298	1	al	al	PROPN
gujaf-145	298	2	-	-	PUNCT
gujaf-145	298	3	shami	shami	PROPN
gujaf-145	298	4	,	,	PUNCT
gujaf-145	298	5	h.	h.	PROPN
gujaf-145	298	6	a.	a.	PROPN
gujaf-145	298	7	a.	a.	PROPN
gujaf-145	298	8	,	,	PUNCT
gujaf-145	298	9	&	&	CCONJ
gujaf-145	298	10	ibrahim	ibrahim	PROPN
gujaf-145	298	11	,	,	PUNCT
gujaf-145	298	12	y.	y.	PROPN
gujaf-145	298	13	(	(	PUNCT
gujaf-145	298	14	2013	2013	NUM
gujaf-145	298	15	)	)	PUNCT
gujaf-145	298	16	.	.	PUNCT
gujaf-145	299	1	the	the	DET
gujaf-145	299	2	effects	effect	NOUN
gujaf-145	299	3	of	of	ADP
gujaf-145	299	4	macro	macro	ADJ
gujaf-145	299	5	-	-	ADJ
gujaf-145	299	6	economic	economic	ADJ
gujaf-145	299	7	indicators	indicator	NOUN
gujaf-145	299	8	on	on	ADP
gujaf-145	299	9	stock	stock	NOUN
gujaf-145	299	10	returns	return	NOUN
gujaf-145	299	11	:	:	PUNCT
gujaf-145	299	12	evidence	evidence	NOUN
gujaf-145	299	13	from	from	ADP
gujaf-145	299	14	kuwait	kuwait	PROPN
gujaf-145	299	15	stock	stock	NOUN
gujaf-145	299	16	market	market	NOUN
gujaf-145	299	17	.	.	PUNCT
gujaf-145	300	1	american	american	ADJ
gujaf-145	300	2	journal	journal	PROPN
gujaf-145	300	3	of	of	ADP
gujaf-145	300	4	economics	economic	NOUN
gujaf-145	300	5	,	,	PUNCT
gujaf-145	300	6	(	(	PUNCT
gujaf-145	300	7	3)5c	3)5c	NUM
gujaf-145	300	8	,	,	PUNCT
gujaf-145	300	9	5766	5766	NUM
gujaf-145	300	10	.	.	PUNCT
gujaf-145	301	1	amtiran	amtiran	PROPN
gujaf-145	301	2	,	,	PUNCT
gujaf-145	301	3	p.	p.	PROPN
gujaf-145	301	4	y.	y.	PROPN
gujaf-145	301	5	,	,	PUNCT
gujaf-145	301	6	indiastuti	indiastuti	PROPN
gujaf-145	301	7	,	,	PUNCT
gujaf-145	301	8	r.	r.	PROPN
gujaf-145	301	9	,	,	PUNCT
gujaf-145	301	10	nidar	nidar	PROPN
gujaf-145	301	11	,	,	PUNCT
gujaf-145	301	12	s.	s.	PROPN
gujaf-145	301	13	r.	r.	PROPN
gujaf-145	301	14	,	,	PUNCT
gujaf-145	301	15	&	&	CCONJ
gujaf-145	301	16	masyita	masyita	PROPN
gujaf-145	301	17	,	,	PUNCT
gujaf-145	301	18	d.	d.	PROPN
gujaf-145	301	19	,	,	PUNCT
gujaf-145	301	20	(	(	PUNCT
gujaf-145	301	21	2017	2017	NUM
gujaf-145	301	22	)	)	PUNCT
gujaf-145	301	23	.	.	PUNCT
gujaf-145	302	1	macroeconomic	macroeconomic	ADJ
gujaf-145	302	2	factors	factor	NOUN
gujaf-145	302	3	and	and	CCONJ
gujaf-145	302	4	stockreturns	stockreturn	NOUN
gujaf-145	302	5	in	in	ADP
gujaf-145	302	6	apt	apt	ADJ
gujaf-145	302	7	framework	framework	NOUN
gujaf-145	302	8	.	.	PUNCT
gujaf-145	303	1	international	international	ADJ
gujaf-145	303	2	journal	journal	PROPN
gujaf-145	303	3	of	of	ADP
gujaf-145	303	4	economics	economic	NOUN
gujaf-145	303	5	and	and	CCONJ
gujaf-145	303	6	management,11(s1	management,11(s1	NOUN
gujaf-145	303	7	)	)	PUNCT
gujaf-145	303	8	,	,	PUNCT
gujaf-145	303	9	97	97	NUM
gujaf-145	303	10	-	-	SYM
gujaf-145	303	11	206	206	NUM
gujaf-145	303	12	.	.	PUNCT
gujaf-145	304	1	bala	bala	PROPN
gujaf-145	304	2	,	,	PUNCT
gujaf-145	304	3	h.	h.	PROPN
gujaf-145	304	4	,	,	PUNCT
gujaf-145	304	5	&	&	CCONJ
gujaf-145	304	6	idris	idris	PROPN
gujaf-145	304	7	,	,	PUNCT
gujaf-145	304	8	i.	i.	PROPN
gujaf-145	304	9	(	(	PUNCT
gujaf-145	304	10	2015	2015	NUM
gujaf-145	304	11	)	)	PUNCT
gujaf-145	304	12	.	.	PUNCT
gujaf-145	305	1	firm	firm	PROPN
gujaf-145	305	2	’s	’s	PART
gujaf-145	305	3	specific	specific	ADJ
gujaf-145	305	4	characteristics	characteristic	NOUN
gujaf-145	305	5	and	and	CCONJ
gujaf-145	305	6	stock	stock	NOUN
gujaf-145	305	7	market	market	NOUN
gujaf-145	305	8	returns	return	NOUN
gujaf-145	305	9	(	(	PUNCT
gujaf-145	305	10	evidence	evidence	NOUN
gujaf-145	305	11	from	from	ADP
gujaf-145	305	12	listed	list	VERB
gujaf-145	305	13	food	food	NOUN
gujaf-145	305	14	and	and	CCONJ
gujaf-145	305	15	beverages	beverage	NOUN
gujaf-145	305	16	firms	firm	NOUN
gujaf-145	305	17	in	in	ADP
gujaf-145	305	18	nigeria	nigeria	PROPN
gujaf-145	305	19	)	)	PUNCT
gujaf-145	305	20	.	.	PUNCT
gujaf-145	306	1	research	research	NOUN
gujaf-145	306	2	journal	journal	PROPN
gujaf-145	306	3	of	of	ADP
gujaf-145	306	4	finance	finance	NOUN
gujaf-145	306	5	and	and	CCONJ
gujaf-145	306	6	accounting	accounting	NOUN
gujaf-145	306	7	,	,	PUNCT
gujaf-145	306	8	6(16),188	6(16),188	PROPN
gujaf-145	306	9	-	-	PUNCT
gujaf-145	306	10	200	200	NUM
gujaf-145	306	11	.	.	PUNCT
gujaf-145	307	1	becht	becht	NOUN
gujaf-145	307	2	,	,	PUNCT
gujaf-145	307	3	m	m	PROPN
gujaf-145	307	4	,	,	PUNCT
gujaf-145	307	5	&	&	CCONJ
gujaf-145	307	6	röell	röell	ADJ
gujaf-145	307	7	.	.	PUNCT
gujaf-145	308	1	p.	p.	NOUN
gujaf-145	308	2	,	,	PUNCT
gujaf-145	308	3	(	(	PUNCT
gujaf-145	308	4	1999	1999	NUM
gujaf-145	308	5	)	)	PUNCT
gujaf-145	308	6	,	,	PUNCT
gujaf-145	308	7	corporate	corporate	ADJ
gujaf-145	308	8	governance	governance	NOUN
gujaf-145	308	9	and	and	CCONJ
gujaf-145	308	10	control‖.	control‖.	NUM
gujaf-145	308	11	european	european	ADJ
gujaf-145	308	12	corporate	corporate	ADJ
gujaf-145	308	13	governance	governance	NOUN
gujaf-145	308	14	institute	institute	NOUN
gujaf-145	308	15	.	.	PUNCT
gujaf-145	309	1	finance	finance	NOUN
gujaf-145	309	2	working	working	NOUN
gujaf-145	309	3	paper	paper	NOUN
gujaf-145	309	4	.	.	PUNCT
gujaf-145	310	1	berle	berle	PROPN
gujaf-145	310	2	,	,	PUNCT
gujaf-145	310	3	a.a	a.a	PROPN
gujaf-145	310	4	.	.	PROPN
gujaf-145	310	5	,	,	PUNCT
gujaf-145	310	6	&	&	CCONJ
gujaf-145	310	7	means	means	PROPN
gujaf-145	310	8	,	,	PUNCT
gujaf-145	310	9	g.c	g.c	PROPN
gujaf-145	310	10	.	.	PROPN
gujaf-145	310	11	(	(	PUNCT
gujaf-145	310	12	1932	1932	NUM
gujaf-145	310	13	)	)	PUNCT
gujaf-145	310	14	.	.	PUNCT
gujaf-145	311	1	the	the	DET
gujaf-145	311	2	modern	modern	ADJ
gujaf-145	311	3	corporation	corporation	NOUN
gujaf-145	311	4	and	and	CCONJ
gujaf-145	311	5	private	private	ADJ
gujaf-145	311	6	property	property	NOUN
gujaf-145	311	7	.	.	PUNCT
gujaf-145	312	1	transaction	transaction	NOUN
gujaf-145	312	2	publishers	publisher	NOUN
gujaf-145	312	3	,	,	PUNCT
gujaf-145	312	4	new	new	PROPN
gujaf-145	312	5	york	york	PROPN
gujaf-145	312	6	.	.	PUNCT
gujaf-145	313	1	black	black	PROPN
gujaf-145	313	2	,	,	PUNCT
gujaf-145	313	3	f.	f.	PROPN
gujaf-145	313	4	(	(	PUNCT
gujaf-145	313	5	1976	1976	NUM
gujaf-145	313	6	)	)	PUNCT
gujaf-145	313	7	,	,	PUNCT
gujaf-145	313	8	“	"	PUNCT
gujaf-145	313	9	the	the	DET
gujaf-145	313	10	dividend	dividend	NOUN
gujaf-145	313	11	puzzle	puzzle	NOUN
gujaf-145	313	12	”	"	PUNCT
gujaf-145	313	13	,	,	PUNCT
gujaf-145	313	14	the	the	DET
gujaf-145	313	15	journal	journal	NOUN
gujaf-145	313	16	of	of	ADP
gujaf-145	313	17	portfolio	portfolio	NOUN
gujaf-145	313	18	management	management	NOUN
gujaf-145	313	19	,	,	PUNCT
gujaf-145	313	20	2(2	2(2	NUM
gujaf-145	313	21	)	)	PUNCT
gujaf-145	313	22	,	,	PUNCT
gujaf-145	313	23	5	5	NUM
gujaf-145	313	24	-	-	SYM
gujaf-145	313	25	8	8	NUM
gujaf-145	313	26	.	.	PUNCT
gujaf-145	314	1	boyd	boyd	PROPN
gujaf-145	314	2	,	,	PUNCT
gujaf-145	314	3	b.	b.	PROPN
gujaf-145	314	4	k.	k.	PROPN
gujaf-145	314	5	,	,	PUNCT
gujaf-145	314	6	(	(	PUNCT
gujaf-145	314	7	1990	1990	NUM
gujaf-145	314	8	)	)	PUNCT
gujaf-145	314	9	,	,	PUNCT
gujaf-145	314	10	board	board	NOUN
gujaf-145	314	11	control	control	NOUN
gujaf-145	314	12	and	and	CCONJ
gujaf-145	314	13	ceo	ceo	NOUN
gujaf-145	314	14	compensation	compensation	NOUN
gujaf-145	314	15	.	.	PUNCT
gujaf-145	315	1	strategic	strategic	ADJ
gujaf-145	315	2	management	management	NOUN
gujaf-145	315	3	journal	journal	NOUN
gujaf-145	315	4	,	,	PUNCT
gujaf-145	315	5	15(5	15(5	NUM
gujaf-145	315	6	)	)	PUNCT
gujaf-145	315	7	,	,	PUNCT
gujaf-145	315	8	335	335	NUM
gujaf-145	315	9	4	4	NUM
gujaf-145	315	10	.	.	X
gujaf-145	315	11	bushee	bushee	NOUN
gujaf-145	315	12	,	,	PUNCT
gujaf-145	315	13	b.	b.	PROPN
gujaf-145	315	14	(	(	PUNCT
gujaf-145	315	15	1998	1998	NUM
gujaf-145	315	16	)	)	PUNCT
gujaf-145	315	17	.	.	PUNCT
gujaf-145	316	1	do	do	AUX
gujaf-145	316	2	institutional	institutional	ADJ
gujaf-145	316	3	investors	investor	NOUN
gujaf-145	316	4	prefer	prefer	VERB
gujaf-145	316	5	near	near	ADJ
gujaf-145	316	6	-	-	PUNCT
gujaf-145	316	7	term	term	NOUN
gujaf-145	316	8	earnings	earning	NOUN
gujaf-145	316	9	over	over	ADP
gujaf-145	316	10	long	long	ADV
gujaf-145	316	11	-	-	PUNCT
gujaf-145	316	12	run	run	VERB
gujaf-145	316	13	value	value	NOUN
gujaf-145	316	14	?	?	PUNCT
gujaf-145	317	1	contemporary	contemporary	ADJ
gujaf-145	317	2	accounting	accounting	PROPN
gujaf-145	317	3	research18(2	research18(2	PROPN
gujaf-145	317	4	):	):	PUNCT
gujaf-145	317	5	207	207	NUM
gujaf-145	317	6	-	-	SYM
gujaf-145	317	7	246	246	NUM
gujaf-145	317	8	.	.	PUNCT
gujaf-145	318	1	carver	carver	PROPN
gujaf-145	318	2	,	,	PUNCT
gujaf-145	318	3	k.	k.	PROPN
gujaf-145	318	4	,	,	PUNCT
gujaf-145	318	5	&	&	CCONJ
gujaf-145	318	6	oliver	oliver	PROPN
gujaf-145	318	7	,	,	PUNCT
gujaf-145	318	8	m.	m.	NOUN
gujaf-145	318	9	,	,	PUNCT
gujaf-145	318	10	(	(	PUNCT
gujaf-145	318	11	2002	2002	NUM
gujaf-145	318	12	)	)	PUNCT
gujaf-145	318	13	.	.	PUNCT
gujaf-145	319	1	board	board	NOUN
gujaf-145	319	2	composition	composition	NOUN
gujaf-145	319	3	and	and	CCONJ
gujaf-145	319	4	firm	firm	ADJ
gujaf-145	319	5	performance	performance	NOUN
gujaf-145	319	6	variance	variance	NOUN
gujaf-145	319	7	:	:	PUNCT
gujaf-145	319	8	australian	australian	ADJ
gujaf-145	319	9	evidence	evidence	NOUN
gujaf-145	319	10	.	.	PUNCT
gujaf-145	320	1	accounting	accounting	NOUN
gujaf-145	320	2	research	research	NOUN
gujaf-145	320	3	journal	journal	NOUN
gujaf-145	320	4	.	.	PUNCT
gujaf-145	321	1	22(2	22(2	VERB
gujaf-145	321	2	)	)	PUNCT
gujaf-145	321	3	,	,	PUNCT
gujaf-145	321	4	196	196	NUM
gujaf-145	321	5	-	-	SYM
gujaf-145	321	6	212	212	NUM
gujaf-145	321	7	.	.	PUNCT
gujaf-145	322	1	chung	chung	PROPN
gujaf-145	322	2	,	,	PUNCT
gujaf-145	322	3	r.	r.	PROPN
gujaf-145	322	4	,	,	PUNCT
gujaf-145	322	5	firth	firth	PROPN
gujaf-145	322	6	,	,	PUNCT
gujaf-145	322	7	m.	m.	NOUN
gujaf-145	322	8	,	,	PUNCT
gujaf-145	322	9	&	&	CCONJ
gujaf-145	322	10	kim	kim	PROPN
gujaf-145	322	11	,	,	PUNCT
gujaf-145	322	12	j.-b	j.-b	PROPN
gujaf-145	322	13	.	.	PUNCT
gujaf-145	323	1	(	(	PUNCT
gujaf-145	323	2	2002	2002	NUM
gujaf-145	323	3	)	)	PUNCT
gujaf-145	323	4	.	.	PUNCT
gujaf-145	324	1	institutional	institutional	ADJ
gujaf-145	324	2	monitoring	monitoring	NOUN
gujaf-145	324	3	and	and	CCONJ
gujaf-145	324	4	opportunistic	opportunistic	ADJ
gujaf-145	324	5	earnings	earning	NOUN
gujaf-145	324	6	management	management	NOUN
gujaf-145	324	7	.	.	PUNCT
gujaf-145	325	1	journal	journal	NOUN
gujaf-145	325	2	of	of	ADP
gujaf-145	325	3	corporate	corporate	ADJ
gujaf-145	325	4	finance	finance	NOUN
gujaf-145	325	5	,	,	PUNCT
gujaf-145	325	6	8(1	8(1	NOUN
gujaf-145	325	7	)	)	PUNCT
gujaf-145	325	8	,	,	PUNCT
gujaf-145	325	9	29–48	29–48	NUM
gujaf-145	325	10	.	.	PUNCT
gujaf-145	326	1	claessens	claessen	NOUN
gujaf-145	326	2	,	,	PUNCT
gujaf-145	326	3	s	s	NOUN
gujaf-145	326	4	,	,	PUNCT
gujaf-145	326	5	&	&	CCONJ
gujaf-145	326	6	djankov	djankov	PROPN
gujaf-145	326	7	,	,	PUNCT
gujaf-145	326	8	s.	s.	PROPN
gujaf-145	326	9	(	(	PUNCT
gujaf-145	326	10	1998	1998	NUM
gujaf-145	326	11	)	)	PUNCT
gujaf-145	326	12	.	.	PUNCT
gujaf-145	327	1	ownership	ownership	NOUN
gujaf-145	327	2	concentration	concentration	NOUN
gujaf-145	327	3	and	and	CCONJ
gujaf-145	327	4	corporate	corporate	ADJ
gujaf-145	327	5	performance	performance	NOUN
gujaf-145	327	6	in	in	ADP
gujaf-145	327	7	the	the	DET
gujaf-145	327	8	czech	czech	PROPN
gujaf-145	327	9	republic	republic	NOUN
gujaf-145	327	10	.	.	PUNCT
gujaf-145	328	1	journal	journal	PROPN
gujaf-145	328	2	of	of	ADP
gujaf-145	328	3	comparative	comparative	ADJ
gujaf-145	328	4	economics	economic	NOUN
gujaf-145	328	5	,	,	PUNCT
gujaf-145	328	6	27	27	NUM
gujaf-145	328	7	,	,	PUNCT
gujaf-145	328	8	498	498	NUM
gujaf-145	328	9	-	-	SYM
gujaf-145	328	10	513	513	NUM
gujaf-145	328	11	.	.	PUNCT
gujaf-145	329	1	clarkson	clarkson	PROPN
gujaf-145	329	2	,	,	PUNCT
gujaf-145	329	3	p.	p.	NOUN
gujaf-145	329	4	m.	m.	NOUN
gujaf-145	329	5	(	(	PUNCT
gujaf-145	329	6	1994	1994	NUM
gujaf-145	329	7	)	)	PUNCT
gujaf-145	329	8	,	,	PUNCT
gujaf-145	329	9	conservatism	conservatism	NOUN
gujaf-145	329	10	,	,	PUNCT
gujaf-145	329	11	disclosure	disclosure	NOUN
gujaf-145	329	12	and	and	CCONJ
gujaf-145	329	13	the	the	DET
gujaf-145	329	14	cost	cost	NOUN
gujaf-145	329	15	of	of	ADP
gujaf-145	329	16	equity	equity	NOUN
gujaf-145	329	17	capital	capital	NOUN
gujaf-145	329	18	.	.	PUNCT
gujaf-145	330	1	australian	australian	ADJ
gujaf-145	330	2	journal	journal	NOUN
gujaf-145	330	3	of	of	ADP
gujaf-145	330	4	management	management	NOUN
gujaf-145	330	5	,	,	PUNCT
gujaf-145	330	6	39(2	39(2	NUM
gujaf-145	330	7	)	)	PUNCT
gujaf-145	330	8	,	,	PUNCT
gujaf-145	330	9	293	293	NUM
gujaf-145	330	10	-	-	SYM
gujaf-145	330	11	314	314	NUM
gujaf-145	330	12	.	.	PUNCT
gujaf-145	331	1	cornett	cornett	NOUN
gujaf-145	331	2	,	,	PUNCT
gujaf-145	331	3	m.	m.	NOUN
gujaf-145	331	4	,	,	PUNCT
gujaf-145	331	5	marcus	marcus	PROPN
gujaf-145	331	6	,	,	PUNCT
gujaf-145	331	7	a.	a.	PROPN
gujaf-145	331	8	,	,	PUNCT
gujaf-145	331	9	&	&	CCONJ
gujaf-145	331	10	tehranian	tehranian	NOUN
gujaf-145	331	11	,	,	PUNCT
gujaf-145	331	12	h.	h.	PROPN
gujaf-145	331	13	(	(	PUNCT
gujaf-145	331	14	2008	2008	NUM
gujaf-145	331	15	)	)	PUNCT
gujaf-145	331	16	.	.	PUNCT
gujaf-145	332	1	corporate	corporate	ADJ
gujaf-145	332	2	governance	governance	NOUN
gujaf-145	332	3	and	and	CCONJ
gujaf-145	332	4	pay	pay	NOUN
gujaf-145	332	5	-	-	PUNCT
gujaf-145	332	6	for	for	ADP
gujaf-145	332	7	performance	performance	NOUN
gujaf-145	332	8	:	:	PUNCT
gujaf-145	332	9	the	the	DET
gujaf-145	332	10	impact	impact	NOUN
gujaf-145	332	11	of	of	ADP
gujaf-145	332	12	earnings	earning	NOUN
gujaf-145	332	13	management	management	NOUN
gujaf-145	332	14	.	.	PUNCT
gujaf-145	333	1	journal	journal	NOUN
gujaf-145	333	2	of	of	ADP
gujaf-145	333	3	financial	financial	ADJ
gujaf-145	333	4	economics	economic	NOUN
gujaf-145	333	5	,	,	PUNCT
gujaf-145	333	6	87(1	87(1	NUM
gujaf-145	333	7	)	)	PUNCT
gujaf-145	333	8	,	,	PUNCT
gujaf-145	333	9	357	357	NUM
gujaf-145	333	10	-	-	SYM
gujaf-145	333	11	373	373	NUM
gujaf-145	333	12	.	.	PUNCT
gujaf-145	334	1	daily	daily	PROPN
gujaf-145	334	2	,	,	PUNCT
gujaf-145	334	3	c.	c.	PROPN
gujaf-145	334	4	m.	m.	PROPN
gujaf-145	334	5	,	,	PUNCT
gujaf-145	334	6	&	&	CCONJ
gujaf-145	334	7	dalton	dalton	PROPN
gujaf-145	334	8	,	,	PUNCT
gujaf-145	334	9	d.	d.	PROPN
gujaf-145	334	10	r.	r.	PROPN
gujaf-145	334	11	(	(	PUNCT
gujaf-145	334	12	1993	1993	NUM
gujaf-145	334	13	)	)	PUNCT
gujaf-145	334	14	.	.	PUNCT
gujaf-145	335	1	board	board	NOUN
gujaf-145	335	2	of	of	ADP
gujaf-145	335	3	directors	director	NOUN
gujaf-145	335	4	’	’	PART
gujaf-145	335	5	leadership	leadership	NOUN
gujaf-145	335	6	and	and	CCONJ
gujaf-145	335	7	structure	structure	NOUN
gujaf-145	335	8	:	:	PUNCT
gujaf-145	335	9	control	control	NOUN
gujaf-145	335	10	and	and	CCONJ
gujaf-145	335	11	performance	performance	NOUN
gujaf-145	335	12	implications	implication	NOUN
gujaf-145	335	13	.	.	PUNCT
gujaf-145	336	1	entrepreneurship	entrepreneurship	NOUN
gujaf-145	336	2	theory	theory	NOUN
gujaf-145	336	3	and	and	CCONJ
gujaf-145	336	4	practice	practice	NOUN
gujaf-145	336	5	,	,	PUNCT
gujaf-145	336	6	17,65–81	17,65–81	ADJ
gujaf-145	336	7	.	.	PUNCT
gujaf-145	337	1	19	19	NUM
gujaf-145	337	2	donaldson	donaldson	PROPN
gujaf-145	337	3	,	,	PUNCT
gujaf-145	337	4	t.	t.	PROPN
gujaf-145	337	5	&	&	CCONJ
gujaf-145	337	6	preston	preston	PROPN
gujaf-145	337	7	,	,	PUNCT
gujaf-145	337	8	l.	l.	PROPN
gujaf-145	337	9	(	(	PUNCT
gujaf-145	337	10	1995	1995	NUM
gujaf-145	337	11	)	)	PUNCT
gujaf-145	337	12	.	.	PUNCT
gujaf-145	338	1	the	the	DET
gujaf-145	338	2	stakeholder	stakeholder	NOUN
gujaf-145	338	3	theory	theory	NOUN
gujaf-145	338	4	of	of	ADP
gujaf-145	338	5	the	the	DET
gujaf-145	338	6	corporation	corporation	NOUN
gujaf-145	338	7	:	:	PUNCT
gujaf-145	338	8	concepts	concept	NOUN
gujaf-145	338	9	,	,	PUNCT
gujaf-145	338	10	evidence	evidence	NOUN
gujaf-145	338	11	,	,	PUNCT
gujaf-145	338	12	and	and	CCONJ
gujaf-145	338	13	implications	implication	NOUN
gujaf-145	338	14	.	.	PUNCT
gujaf-145	339	1	academy	academy	PROPN
gujaf-145	339	2	management	management	PROPN
gujaf-145	339	3	review	review	PROPN
gujaf-145	339	4	,	,	PUNCT
gujaf-145	339	5	20	20	NUM
gujaf-145	339	6	(	(	PUNCT
gujaf-145	339	7	1	1	NUM
gujaf-145	339	8	)	)	PUNCT
gujaf-145	339	9	,	,	PUNCT
gujaf-145	339	10	65	65	NUM
gujaf-145	339	11	-	-	SYM
gujaf-145	339	12	91	91	NUM
gujaf-145	339	13	.	.	PUNCT
gujaf-145	340	1	demsetz	demsetz	VERB
gujaf-145	340	2	,	,	PUNCT
gujaf-145	340	3	h.	h.	PROPN
gujaf-145	340	4	(	(	PUNCT
gujaf-145	340	5	1983	1983	NUM
gujaf-145	340	6	)	)	PUNCT
gujaf-145	340	7	.	.	PUNCT
gujaf-145	341	1	the	the	DET
gujaf-145	341	2	structure	structure	NOUN
gujaf-145	341	3	of	of	ADP
gujaf-145	341	4	ownership	ownership	NOUN
gujaf-145	341	5	and	and	CCONJ
gujaf-145	341	6	the	the	DET
gujaf-145	341	7	theory	theory	NOUN
gujaf-145	341	8	of	of	ADP
gujaf-145	341	9	the	the	DET
gujaf-145	341	10	firm	firm	NOUN
gujaf-145	341	11	.	.	PUNCT
gujaf-145	342	1	journal	journal	PROPN
gujaf-145	342	2	of	of	ADP
gujaf-145	342	3	law	law	NOUN
gujaf-145	342	4	and	and	CCONJ
gujaf-145	342	5	economics	economic	NOUN
gujaf-145	342	6	,	,	PUNCT
gujaf-145	342	7	26(2	26(2	NUM
gujaf-145	342	8	)	)	PUNCT
gujaf-145	342	9	,	,	PUNCT
gujaf-145	342	10	375	375	NUM
gujaf-145	342	11	-	-	SYM
gujaf-145	342	12	390	390	NUM
gujaf-145	342	13	.	.	PUNCT
gujaf-145	343	1	demsetz	demsetz	VERB
gujaf-145	343	2	,	,	PUNCT
gujaf-145	343	3	h.	h.	PROPN
gujaf-145	343	4	&	&	CCONJ
gujaf-145	343	5	lehn	lehn	PROPN
gujaf-145	343	6	,	,	PUNCT
gujaf-145	343	7	k.	k.	PROPN
gujaf-145	343	8	,	,	PUNCT
gujaf-145	343	9	(	(	PUNCT
gujaf-145	343	10	1985	1985	NUM
gujaf-145	343	11	)	)	PUNCT
gujaf-145	343	12	,	,	PUNCT
gujaf-145	343	13	ownership	ownership	NOUN
gujaf-145	343	14	structure	structure	NOUN
gujaf-145	343	15	and	and	CCONJ
gujaf-145	343	16	corporate	corporate	ADJ
gujaf-145	343	17	performance	performance	NOUN
gujaf-145	343	18	,	,	PUNCT
gujaf-145	343	19	journal	journal	NOUN
gujaf-145	343	20	of	of	ADP
gujaf-145	343	21	corporate	corporate	ADJ
gujaf-145	343	22	finance	finance	NOUN
gujaf-145	343	23	209–233	209–233	NUM
gujaf-145	343	24	.	.	PUNCT
gujaf-145	344	1	drew	draw	VERB
gujaf-145	344	2	,	,	PUNCT
gujaf-145	344	3	m.	m.	PROPN
gujaf-145	344	4	e.	e.	PROPN
gujaf-145	344	5	(	(	PUNCT
gujaf-145	344	6	2003	2003	NUM
gujaf-145	344	7	)	)	PUNCT
gujaf-145	344	8	.	.	PUNCT
gujaf-145	345	1	beta	beta	NOUN
gujaf-145	345	2	,	,	PUNCT
gujaf-145	345	3	firm	firm	ADJ
gujaf-145	345	4	size	size	NOUN
gujaf-145	345	5	,	,	PUNCT
gujaf-145	345	6	book	book	NOUN
gujaf-145	345	7	-	-	PUNCT
gujaf-145	345	8	to	to	ADP
gujaf-145	345	9	-	-	PUNCT
gujaf-145	345	10	market	market	NOUN
gujaf-145	345	11	equity	equity	NOUN
gujaf-145	345	12	and	and	CCONJ
gujaf-145	345	13	stock	stock	NOUN
gujaf-145	345	14	returns	return	NOUN
gujaf-145	345	15	.	.	PUNCT
gujaf-145	346	1	journal	journal	NOUN
gujaf-145	346	2	of	of	ADP
gujaf-145	346	3	the	the	DET
gujaf-145	346	4	asia	asia	PROPN
gujaf-145	346	5	pacific	pacific	PROPN
gujaf-145	346	6	economy	economy	NOUN
gujaf-145	346	7	,	,	PUNCT
gujaf-145	346	8	8	8	NUM
gujaf-145	346	9	(	(	PUNCT
gujaf-145	346	10	3	3	NUM
gujaf-145	346	11	)	)	PUNCT
gujaf-145	346	12	,	,	PUNCT
gujaf-145	346	13	354	354	NUM
gujaf-145	346	14	-	-	SYM
gujaf-145	346	15	379	379	NUM
gujaf-145	346	16	ebrahim	ebrahim	PROPN
gujaf-145	346	17	,	,	PUNCT
gujaf-145	346	18	a.	a.	NOUN
gujaf-145	346	19	(	(	PUNCT
gujaf-145	346	20	2007	2007	NUM
gujaf-145	346	21	)	)	PUNCT
gujaf-145	346	22	.	.	PUNCT
gujaf-145	347	1	auditing	audit	VERB
gujaf-145	347	2	quality	quality	NOUN
gujaf-145	347	3	,	,	PUNCT
gujaf-145	347	4	auditor	auditor	NOUN
gujaf-145	347	5	tenure	tenure	NOUN
gujaf-145	347	6	,	,	PUNCT
gujaf-145	347	7	client	client	NOUN
gujaf-145	347	8	importance	importance	NOUN
gujaf-145	347	9	,	,	PUNCT
gujaf-145	347	10	and	and	CCONJ
gujaf-145	347	11	earnings	earning	NOUN
gujaf-145	347	12	management	management	NOUN
gujaf-145	347	13	:	:	PUNCT
gujaf-145	347	14	an	an	DET
gujaf-145	347	15	additional	additional	ADJ
gujaf-145	347	16	evidence	evidence	NOUN
gujaf-145	347	17	,	,	PUNCT
gujaf-145	347	18	unpublished	unpublished	ADJ
gujaf-145	347	19	,	,	PUNCT
gujaf-145	347	20	rutgers	rutgers	PROPN
gujaf-145	347	21	university	university	PROPN
gujaf-145	347	22	.	.	PUNCT
gujaf-145	348	1	eisenhardt	eisenhardt	PROPN
gujaf-145	348	2	,	,	PUNCT
gujaf-145	348	3	k.	k.	PROPN
gujaf-145	348	4	m.	m.	PROPN
gujaf-145	348	5	(	(	PUNCT
gujaf-145	348	6	1989	1989	NUM
gujaf-145	348	7	)	)	PUNCT
gujaf-145	348	8	.	.	PUNCT
gujaf-145	349	1	agency	agency	NOUN
gujaf-145	349	2	theory	theory	NOUN
gujaf-145	349	3	:	:	PUNCT
gujaf-145	349	4	an	an	DET
gujaf-145	349	5	assessment	assessment	NOUN
gujaf-145	349	6	and	and	CCONJ
gujaf-145	349	7	review	review	NOUN
gujaf-145	349	8	.	.	PUNCT
gujaf-145	350	1	academy	academy	PROPN
gujaf-145	350	2	of	of	ADP
gujaf-145	350	3	management	management	NOUN
gujaf-145	350	4	review,14(1	review,14(1	PROPN
gujaf-145	350	5	)	)	PUNCT
gujaf-145	350	6	,	,	PUNCT
gujaf-145	350	7	57–74	57–74	NUM
gujaf-145	350	8	.	.	PUNCT
gujaf-145	350	9	erivelto	erivelto	PROPN
gujaf-145	350	10	,	,	PUNCT
gujaf-145	350	11	f.	f.	PROPN
gujaf-145	350	12	&	&	CCONJ
gujaf-145	350	13	fernando	fernando	PROPN
gujaf-145	350	14	,	,	PUNCT
gujaf-145	350	15	c.	c.	PROPN
gujaf-145	350	16	(	(	PUNCT
gujaf-145	350	17	2016	2016	NUM
gujaf-145	350	18	)	)	PUNCT
gujaf-145	350	19	.	.	PUNCT
gujaf-145	351	1	the	the	DET
gujaf-145	351	2	relationship	relationship	NOUN
gujaf-145	351	3	between	between	ADP
gujaf-145	351	4	equity	equity	NOUN
gujaf-145	351	5	ownership	ownership	NOUN
gujaf-145	351	6	concentrationandearnings	concentrationandearning	NOUN
gujaf-145	351	7	quality	quality	NOUN
gujaf-145	351	8	.	.	PUNCT
gujaf-145	352	1	management	management	NOUN
gujaf-145	352	2	journal	journal	PROPN
gujaf-145	352	3	.	.	PUNCT
gujaf-145	353	1	(	(	PUNCT
gujaf-145	353	2	43	43	NUM
gujaf-145	353	3	)	)	PUNCT
gujaf-145	353	4	.	.	PUNCT
gujaf-145	354	1	ezazi	ezazi	PROPN
gujaf-145	354	2	m.	m.	PROPN
gujaf-145	354	3	,	,	PUNCT
gujaf-145	354	4	sadeghi	sadeghi	PROPN
gujaf-145	354	5	s.	s.	PROPN
gujaf-145	354	6	&	&	CCONJ
gujaf-145	354	7	amjadi	amjadi	PROPN
gujaf-145	354	8	h.	h.	PROPN
gujaf-145	354	9	,	,	PUNCT
gujaf-145	354	10	(	(	PUNCT
gujaf-145	354	11	2011	2011	NUM
gujaf-145	354	12	)	)	PUNCT
gujaf-145	354	13	,	,	PUNCT
gujaf-145	354	14	"	"	PUNCT
gujaf-145	354	15	the	the	DET
gujaf-145	354	16	effect	effect	NOUN
gujaf-145	354	17	of	of	ADP
gujaf-145	354	18	ownership	ownership	NOUN
gujaf-145	354	19	structure	structure	NOUN
gujaf-145	354	20	on	on	ADP
gujaf-145	354	21	share	share	NOUN
gujaf-145	354	22	price	price	NOUN
gujaf-145	354	23	volatility	volatility	NOUN
gujaf-145	354	24	of	of	ADP
gujaf-145	354	25	listed	list	VERB
gujaf-145	354	26	companies	company	NOUN
gujaf-145	354	27	in	in	ADP
gujaf-145	354	28	tehran	tehran	PROPN
gujaf-145	354	29	stock	stock	PROPN
gujaf-145	354	30	exchange	exchange	PROPN
gujaf-145	354	31	:	:	PUNCT
gujaf-145	354	32	an	an	DET
gujaf-145	354	33	empirical	empirical	ADJ
gujaf-145	354	34	evidence	evidence	NOUN
gujaf-145	354	35	of	of	ADP
gujaf-145	354	36	iran"international	iran"international	ADJ
gujaf-145	354	37	journal	journal	NOUN
gujaf-145	354	38	of	of	ADP
gujaf-145	354	39	business	business	NOUN
gujaf-145	354	40	and	and	CCONJ
gujaf-145	354	41	social	social	ADJ
gujaf-145	354	42	science	science	NOUN
gujaf-145	354	43	2(5	2(5	NUM
gujaf-145	354	44	)	)	PUNCT
gujaf-145	354	45	.	.	PUNCT
gujaf-145	355	1	fama	fama	PROPN
gujaf-145	355	2	,	,	PUNCT
gujaf-145	355	3	e.f	e.f	PROPN
gujaf-145	355	4	.	.	PROPN
gujaf-145	355	5	&	&	CCONJ
gujaf-145	355	6	jensen	jensen	PROPN
gujaf-145	355	7	,	,	PUNCT
gujaf-145	355	8	m.c	m.c	PROPN
gujaf-145	355	9	.	.	PROPN
gujaf-145	355	10	(	(	PUNCT
gujaf-145	355	11	1983	1983	NUM
gujaf-145	355	12	)	)	PUNCT
gujaf-145	355	13	,	,	PUNCT
gujaf-145	355	14	“	"	PUNCT
gujaf-145	355	15	separation	separation	NOUN
gujaf-145	355	16	of	of	ADP
gujaf-145	355	17	ownership	ownership	NOUN
gujaf-145	355	18	and	and	CCONJ
gujaf-145	355	19	control	control	NOUN
gujaf-145	355	20	”	"	PUNCT
gujaf-145	355	21	,	,	PUNCT
gujaf-145	355	22	the	the	DET
gujaf-145	355	23	journal	journal	NOUN
gujaf-145	355	24	of	of	ADP
gujaf-145	355	25	law	law	NOUN
gujaf-145	355	26	and	and	CCONJ
gujaf-145	355	27	economics	economic	NOUN
gujaf-145	355	28	,	,	PUNCT
gujaf-145	355	29	26	26	NUM
gujaf-145	355	30	(	(	PUNCT
gujaf-145	355	31	2	2	NUM
gujaf-145	355	32	)	)	PUNCT
gujaf-145	355	33	,	,	PUNCT
gujaf-145	355	34	301	301	NUM
gujaf-145	355	35	-	-	SYM
gujaf-145	355	36	325	325	NUM
gujaf-145	355	37	.	.	PUNCT
gujaf-145	356	1	freeman	freeman	PROPN
gujaf-145	356	2	,	,	PUNCT
gujaf-145	356	3	r.	r.	PROPN
gujaf-145	356	4	e.	e.	PROPN
gujaf-145	356	5	(	(	PUNCT
gujaf-145	356	6	1984	1984	NUM
gujaf-145	356	7	)	)	PUNCT
gujaf-145	356	8	.	.	PUNCT
gujaf-145	357	1	strategic	strategic	ADJ
gujaf-145	357	2	management	management	NOUN
gujaf-145	357	3	:	:	PUNCT
gujaf-145	357	4	a	a	DET
gujaf-145	357	5	stakeholder	stakeholder	NOUN
gujaf-145	357	6	approach	approach	NOUN
gujaf-145	357	7	.	.	PUNCT
gujaf-145	358	1	boston	boston	PROPN
gujaf-145	358	2	ma	ma	PROPN
gujaf-145	358	3	.	.	PROPN
gujaf-145	358	4	pitman	pitman	PROPN
gujaf-145	358	5	publishing	publishing	PROPN
gujaf-145	358	6	.	.	PUNCT
gujaf-145	359	1	freeman	freeman	PROPN
gujaf-145	359	2	,	,	PUNCT
gujaf-145	359	3	r.	r.	PROPN
gujaf-145	359	4	e.	e.	PROPN
gujaf-145	359	5	,	,	PUNCT
gujaf-145	359	6	andrew	andrew	PROPN
gujaf-145	359	7	,	,	PUNCT
gujaf-145	359	8	d.	d.	PROPN
gujaf-145	359	9	,	,	PUNCT
gujaf-145	359	10	wicks	wick	NOUN
gujaf-145	359	11	,	,	PUNCT
gujaf-145	359	12	q.	q.	NOUN
gujaf-145	359	13	,	,	PUNCT
gujaf-145	359	14	bidhan	bidhan	PROPN
gujaf-145	359	15	,	,	PUNCT
gujaf-145	359	16	h.	h.	PROPN
gujaf-145	359	17	,	,	PUNCT
gujaf-145	359	18	&	&	CCONJ
gujaf-145	359	19	parmar	parmar	PROPN
gujaf-145	359	20	,	,	PUNCT
gujaf-145	359	21	a.	a.	NOUN
gujaf-145	359	22	,	,	PUNCT
gujaf-145	359	23	(	(	PUNCT
gujaf-145	359	24	1991	1991	NUM
gujaf-145	359	25	)	)	PUNCT
gujaf-145	359	26	.	.	PUNCT
gujaf-145	360	1	stakeholder	stakeholder	NOUN
gujaf-145	360	2	theory	theory	NOUN
gujaf-145	360	3	and	and	CCONJ
gujaf-145	360	4	“	"	PUNCT
gujaf-145	360	5	the	the	DET
gujaf-145	360	6	corporate	corporate	ADJ
gujaf-145	360	7	objective	objective	NOUN
gujaf-145	360	8	revisited	revisit	VERB
gujaf-145	360	9	.	.	PUNCT
gujaf-145	360	10	”	"	PUNCT
gujaf-145	361	1	organization	organization	NOUN
gujaf-145	361	2	science	science	NOUN
gujaf-145	361	3	,	,	PUNCT
gujaf-145	361	4	15	15	NUM
gujaf-145	361	5	,	,	PUNCT
gujaf-145	361	6	364	364	NUM
gujaf-145	361	7	-	-	SYM
gujaf-145	361	8	369	369	NUM
gujaf-145	361	9	.	.	PUNCT
gujaf-145	362	1	foroughi	foroughi	PROPN
gujaf-145	362	2	,	,	PUNCT
gujaf-145	362	3	m.	m.	NOUN
gujaf-145	362	4	&	&	CCONJ
gujaf-145	362	5	fooladi	fooladi	NOUN
gujaf-145	362	6	,	,	PUNCT
gujaf-145	362	7	m.	m.	NOUN
gujaf-145	362	8	(	(	PUNCT
gujaf-145	362	9	2012	2012	NUM
gujaf-145	362	10	)	)	PUNCT
gujaf-145	362	11	.	.	PUNCT
gujaf-145	363	1	concentration	concentration	NOUN
gujaf-145	363	2	of	of	ADP
gujaf-145	363	3	ownership	ownership	NOUN
gujaf-145	363	4	in	in	ADP
gujaf-145	363	5	iranian	iranian	ADJ
gujaf-145	363	6	listed	list	VERB
gujaf-145	363	7	firms	firm	NOUN
gujaf-145	363	8	.	.	PUNCT
gujaf-145	364	1	international	international	ADJ
gujaf-145	364	2	journal	journal	NOUN
gujaf-145	364	3	of	of	ADP
gujaf-145	364	4	social	social	ADJ
gujaf-145	364	5	science	science	NOUN
gujaf-145	364	6	and	and	CCONJ
gujaf-145	364	7	humanity	humanity	NOUN
gujaf-145	364	8	,	,	PUNCT
gujaf-145	364	9	(	(	PUNCT
gujaf-145	364	10	2	2	NUM
gujaf-145	364	11	)	)	PUNCT
gujaf-145	364	12	2	2	NUM
gujaf-145	364	13	.	.	X
gujaf-145	364	14	gatuhi	gatuhi	PROPN
gujaf-145	364	15	,	,	PUNCT
gujaf-145	364	16	s.	s.	PROPN
gujaf-145	364	17	,	,	PUNCT
gujaf-145	364	18	gekara	gekara	PROPN
gujaf-145	364	19	,	,	PUNCT
gujaf-145	364	20	m.	m.	NOUN
gujaf-145	364	21	,	,	PUNCT
gujaf-145	364	22	&	&	CCONJ
gujaf-145	364	23	muturi	muturi	PROPN
gujaf-145	364	24	,	,	PUNCT
gujaf-145	364	25	d.	d.	PROPN
gujaf-145	364	26	(	(	PUNCT
gujaf-145	364	27	2015	2015	NUM
gujaf-145	364	28	)	)	PUNCT
gujaf-145	364	29	.	.	PUNCT
gujaf-145	365	1	effect	effect	NOUN
gujaf-145	365	2	of	of	ADP
gujaf-145	365	3	macroeconomic	macroeconomic	ADJ
gujaf-145	365	4	environment	environment	NOUN
gujaf-145	365	5	on	on	ADP
gujaf-145	365	6	stock	stock	NOUN
gujaf-145	365	7	returns	return	NOUN
gujaf-145	365	8	of	of	ADP
gujaf-145	365	9	firms	firm	NOUN
gujaf-145	365	10	in	in	ADP
gujaf-145	365	11	the	the	DET
gujaf-145	365	12	agricultural	agricultural	ADJ
gujaf-145	365	13	sector	sector	NOUN
gujaf-145	365	14	in	in	ADP
gujaf-145	365	15	kenya	kenya	PROPN
gujaf-145	365	16	.	.	PUNCT
gujaf-145	366	1	international	international	ADJ
gujaf-145	366	2	journal	journal	PROPN
gujaf-145	366	3	of	of	ADP
gujaf-145	366	4	management	management	PROPN
gujaf-145	366	5	&	&	CCONJ
gujaf-145	366	6	business	business	NOUN
gujaf-145	366	7	studies	study	NOUN
gujaf-145	366	8	,	,	PUNCT
gujaf-145	366	9	5(3	5(3	NUM
gujaf-145	366	10	)	)	PUNCT
gujaf-145	366	11	,	,	PUNCT
gujaf-145	366	12	9	9	NUM
gujaf-145	366	13	-	-	SYM
gujaf-145	366	14	23	23	NUM
gujaf-145	366	15	.	.	PUNCT
gujaf-145	367	1	hajara	hajara	PROPN
gujaf-145	367	2	,	,	PUNCT
gujaf-145	367	3	m.b	m.b	PROPN
gujaf-145	367	4	.	.	PROPN
gujaf-145	367	5	(	(	PUNCT
gujaf-145	367	6	2015	2015	NUM
gujaf-145	367	7	)	)	PUNCT
gujaf-145	367	8	.	.	PUNCT
gujaf-145	368	1	ownership	ownership	NOUN
gujaf-145	368	2	structure	structure	NOUN
gujaf-145	368	3	and	and	CCONJ
gujaf-145	368	4	earnings	earning	NOUN
gujaf-145	368	5	quality	quality	NOUN
gujaf-145	368	6	of	of	ADP
gujaf-145	368	7	listed	list	VERB
gujaf-145	368	8	insurance	insurance	NOUN
gujaf-145	368	9	companies	company	NOUN
gujaf-145	368	10	in	in	ADP
gujaf-145	368	11	nigeria	nigeria	PROPN
gujaf-145	368	12	.	.	PUNCT
gujaf-145	369	1	published	publish	VERB
gujaf-145	369	2	ms.c	ms.c	ADJ
gujaf-145	369	3	dissertation	dissertation	NOUN
gujaf-145	369	4	,	,	PUNCT
gujaf-145	369	5	ahmadu	ahmadu	PROPN
gujaf-145	369	6	bello	bello	PROPN
gujaf-145	369	7	university	university	PROPN
gujaf-145	369	8	zaria	zaria	PROPN
gujaf-145	369	9	.	.	PUNCT
gujaf-145	370	1	healy	healy	PROPN
gujaf-145	370	2	,	,	PUNCT
gujaf-145	370	3	p.	p.	PROPN
gujaf-145	370	4	(	(	PUNCT
gujaf-145	370	5	1985	1985	NUM
gujaf-145	370	6	)	)	PUNCT
gujaf-145	370	7	,	,	PUNCT
gujaf-145	370	8	the	the	DET
gujaf-145	370	9	impact	impact	NOUN
gujaf-145	370	10	of	of	ADP
gujaf-145	370	11	bonus	bonus	NOUN
gujaf-145	370	12	schemes	scheme	NOUN
gujaf-145	370	13	on	on	ADP
gujaf-145	370	14	the	the	DET
gujaf-145	370	15	selection	selection	NOUN
gujaf-145	370	16	of	of	ADP
gujaf-145	370	17	accounting	accounting	NOUN
gujaf-145	370	18	principles	principle	NOUN
gujaf-145	370	19	,	,	PUNCT
gujaf-145	370	20	journal	journal	NOUN
gujaf-145	370	21	of	of	ADP
gujaf-145	370	22	accounting	accounting	NOUN
gujaf-145	370	23	and	and	CCONJ
gujaf-145	370	24	economics	economic	NOUN
gujaf-145	370	25	,	,	PUNCT
gujaf-145	370	26	7	7	NUM
gujaf-145	370	27	:	:	SYM
gujaf-145	370	28	85	85	NUM
gujaf-145	370	29	-	-	SYM
gujaf-145	370	30	107	107	NUM
gujaf-145	370	31	.	.	PUNCT
gujaf-145	371	1	ibrahim	ibrahim	PROPN
gujaf-145	371	2	,	,	PUNCT
gujaf-145	371	3	m.	m.	NOUN
gujaf-145	371	4	,	,	PUNCT
gujaf-145	371	5	&	&	CCONJ
gujaf-145	371	6	musah	musah	PROPN
gujaf-145	371	7	,	,	PUNCT
gujaf-145	371	8	a.	a.	NOUN
gujaf-145	371	9	(	(	PUNCT
gujaf-145	371	10	2014	2014	NUM
gujaf-145	371	11	)	)	PUNCT
gujaf-145	371	12	.	.	PUNCT
gujaf-145	372	1	an	an	DET
gujaf-145	372	2	econometric	econometric	ADJ
gujaf-145	372	3	analysis	analysis	NOUN
gujaf-145	372	4	of	of	ADP
gujaf-145	372	5	the	the	DET
gujaf-145	372	6	impact	impact	NOUN
gujaf-145	372	7	of	of	ADP
gujaf-145	372	8	macroeconomic	macroeconomic	ADJ
gujaf-145	372	9	fundamentals	fundamental	NOUN
gujaf-145	372	10	on	on	ADP
gujaf-145	372	11	stock	stock	NOUN
gujaf-145	372	12	market	market	NOUN
gujaf-145	372	13	returns	return	NOUN
gujaf-145	372	14	in	in	ADP
gujaf-145	372	15	ghana	ghana	PROPN
gujaf-145	372	16	.	.	PUNCT
gujaf-145	373	1	research	research	NOUN
gujaf-145	373	2	in	in	ADP
gujaf-145	373	3	applied	apply	VERB
gujaf-145	373	4	economics	economic	NOUN
gujaf-145	373	5	,	,	PUNCT
gujaf-145	373	6	6(2	6(2	NUM
gujaf-145	373	7	)	)	PUNCT
gujaf-145	373	8	,	,	PUNCT
gujaf-145	373	9	47	47	NUM
gujaf-145	373	10	-	-	SYM
gujaf-145	373	11	72	72	NUM
gujaf-145	373	12	.	.	PUNCT
gujaf-145	374	1	20	20	NUM
gujaf-145	374	2	iqbal	iqbal	PROPN
gujaf-145	374	3	,	,	PUNCT
gujaf-145	374	4	m.	m.	NOUN
gujaf-145	374	5	j.	j.	PROPN
gujaf-145	374	6	,	,	PUNCT
gujaf-145	374	7	siddiq	siddiq	PROPN
gujaf-145	374	8	,	,	PUNCT
gujaf-145	374	9	a.	a.	PROPN
gujaf-145	374	10	,	,	PUNCT
gujaf-145	374	11	gul	gul	PROPN
gujaf-145	374	12	,	,	PUNCT
gujaf-145	374	13	h	h	NOUN
gujaf-145	374	14	,	,	PUNCT
gujaf-145	374	15	&	&	CCONJ
gujaf-145	374	16	gul	gul	PROPN
gujaf-145	374	17	,	,	PUNCT
gujaf-145	374	18	h.	h.	PROPN
gujaf-145	374	19	,	,	PUNCT
gujaf-145	374	20	(	(	PUNCT
gujaf-145	374	21	2016	2016	NUM
gujaf-145	374	22	)	)	PUNCT
gujaf-145	374	23	.	.	PUNCT
gujaf-145	375	1	institutional	institutional	ADJ
gujaf-145	375	2	ownership	ownership	NOUN
gujaf-145	375	3	and	and	CCONJ
gujaf-145	375	4	discretionary	discretionary	ADJ
gujaf-145	375	5	accruals	accrual	NOUN
gujaf-145	375	6	:	:	PUNCT
gujaf-145	375	7	empirical	empirical	ADJ
gujaf-145	375	8	evidences	evidence	NOUN
gujaf-145	375	9	from	from	ADP
gujaf-145	375	10	pakistani	pakistani	ADJ
gujaf-145	375	11	listed	list	VERB
gujaf-145	375	12	nonfinancial	nonfinancial	ADJ
gujaf-145	375	13	companies	company	NOUN
gujaf-145	375	14	.	.	PUNCT
gujaf-145	376	1	journal	journal	NOUN
gujaf-145	376	2	of	of	ADP
gujaf-145	376	3	information	information	NOUN
gujaf-145	376	4	management	management	NOUN
gujaf-145	376	5	and	and	CCONJ
gujaf-145	376	6	business	business	NOUN
gujaf-145	376	7	review.4(4	review.4(4	NOUN
gujaf-145	376	8	)	)	PUNCT
gujaf-145	376	9	,	,	PUNCT
gujaf-145	376	10	217	217	NUM
gujaf-145	376	11	-	-	SYM
gujaf-145	376	12	222	222	NUM
gujaf-145	376	13	.	.	PUNCT
gujaf-145	377	1	jensen	jensen	PROPN
gujaf-145	377	2	,	,	PUNCT
gujaf-145	377	3	m.c	m.c	PROPN
gujaf-145	377	4	.	.	PROPN
gujaf-145	377	5	&	&	CCONJ
gujaf-145	377	6	meckling	meckling	PROPN
gujaf-145	377	7	,	,	PUNCT
gujaf-145	377	8	wh	wh	PROPN
gujaf-145	377	9	.	.	PUNCT
gujaf-145	377	10	(	(	PUNCT
gujaf-145	377	11	1976	1976	NUM
gujaf-145	377	12	)	)	PUNCT
gujaf-145	377	13	.	.	PUNCT
gujaf-145	378	1	theory	theory	NOUN
gujaf-145	378	2	of	of	ADP
gujaf-145	378	3	the	the	DET
gujaf-145	378	4	firm	firm	NOUN
gujaf-145	378	5	:	:	PUNCT
gujaf-145	378	6	managerial	managerial	ADJ
gujaf-145	378	7	behavior	behavior	NOUN
gujaf-145	378	8	,	,	PUNCT
gujaf-145	378	9	agency	agency	NOUN
gujaf-145	378	10	costs	cost	NOUN
gujaf-145	378	11	,	,	PUNCT
gujaf-145	378	12	and	and	CCONJ
gujaf-145	378	13	ownership	ownership	NOUN
gujaf-145	378	14	structure	structure	NOUN
gujaf-145	378	15	.	.	PUNCT
gujaf-145	379	1	journal	journal	NOUN
gujaf-145	379	2	of	of	ADP
gujaf-145	379	3	financial	financial	ADJ
gujaf-145	379	4	economics	economic	NOUN
gujaf-145	379	5	,	,	PUNCT
gujaf-145	379	6	3	3	NUM
gujaf-145	379	7	,	,	PUNCT
gujaf-145	379	8	305–360	305–360	NUM
gujaf-145	379	9	.	.	PUNCT
gujaf-145	380	1	jensen	jensen	PROPN
gujaf-145	380	2	,	,	PUNCT
gujaf-145	380	3	m.	m.	NOUN
gujaf-145	380	4	(	(	PUNCT
gujaf-145	380	5	1986	1986	NUM
gujaf-145	380	6	)	)	PUNCT
gujaf-145	380	7	,	,	PUNCT
gujaf-145	380	8	‘	'	PUNCT
gujaf-145	380	9	‘	'	PUNCT
gujaf-145	380	10	agency	agency	NOUN
gujaf-145	380	11	costs	cost	NOUN
gujaf-145	380	12	of	of	ADP
gujaf-145	380	13	free	free	ADJ
gujaf-145	380	14	cash	cash	NOUN
gujaf-145	380	15	flows	flow	NOUN
gujaf-145	380	16	,	,	PUNCT
gujaf-145	380	17	corporate	corporate	ADJ
gujaf-145	380	18	finance	finance	NOUN
gujaf-145	380	19	and	and	CCONJ
gujaf-145	380	20	takeovers	takeover	NOUN
gujaf-145	380	21	’’	’'	PUNCT
gujaf-145	380	22	.	.	PUNCT
gujaf-145	381	1	american	american	PROPN
gujaf-145	381	2	economic	economic	PROPN
gujaf-145	381	3	review	review	PROPN
gujaf-145	381	4	,	,	PUNCT
gujaf-145	381	5	26	26	NUM
gujaf-145	381	6	,	,	PUNCT
gujaf-145	381	7	323	323	NUM
gujaf-145	381	8	.	.	PUNCT
gujaf-145	382	1	jensen	jensen	PROPN
gujaf-145	382	2	,	,	PUNCT
gujaf-145	382	3	m.c	m.c	PROPN
gujaf-145	382	4	.	.	PROPN
gujaf-145	382	5	(	(	PUNCT
gujaf-145	382	6	1993	1993	NUM
gujaf-145	382	7	)	)	PUNCT
gujaf-145	382	8	,	,	PUNCT
gujaf-145	382	9	“	"	PUNCT
gujaf-145	382	10	the	the	DET
gujaf-145	382	11	modern	modern	ADJ
gujaf-145	382	12	industrial	industrial	ADJ
gujaf-145	382	13	revolution	revolution	NOUN
gujaf-145	382	14	,	,	PUNCT
gujaf-145	382	15	exit	exit	NOUN
gujaf-145	382	16	,	,	PUNCT
gujaf-145	382	17	and	and	CCONJ
gujaf-145	382	18	the	the	DET
gujaf-145	382	19	failure	failure	NOUN
gujaf-145	382	20	of	of	ADP
gujaf-145	382	21	internal	internal	ADJ
gujaf-145	382	22	control	control	NOUN
gujaf-145	382	23	systems	system	NOUN
gujaf-145	382	24	”	"	PUNCT
gujaf-145	382	25	,	,	PUNCT
gujaf-145	382	26	the	the	DET
gujaf-145	382	27	journal	journal	NOUN
gujaf-145	382	28	of	of	ADP
gujaf-145	382	29	finance	finance	NOUN
gujaf-145	382	30	,	,	PUNCT
gujaf-145	382	31	(	(	PUNCT
gujaf-145	382	32	48)3	48)3	NUM
gujaf-145	382	33	,	,	PUNCT
gujaf-145	382	34	831	831	NUM
gujaf-145	382	35	-	-	SYM
gujaf-145	382	36	880	880	NUM
gujaf-145	382	37	.	.	PUNCT
gujaf-145	383	1	johnson	johnson	PROPN
gujaf-145	383	2	,	,	PUNCT
gujaf-145	383	3	j.	j.	PROPN
gujaf-145	383	4	l.	l.	PROPN
gujaf-145	383	5	,	,	PUNCT
gujaf-145	383	6	daily	daily	PROPN
gujaf-145	383	7	,	,	PUNCT
gujaf-145	383	8	c.	c.	PROPN
gujaf-145	383	9	m.	m.	NOUN
gujaf-145	383	10	,	,	PUNCT
gujaf-145	383	11	&	&	CCONJ
gujaf-145	383	12	ellstrand	ellstrand	NOUN
gujaf-145	383	13	,	,	PUNCT
gujaf-145	383	14	a.	a.	PROPN
gujaf-145	383	15	e.	e.	PROPN
gujaf-145	383	16	,	,	PUNCT
gujaf-145	383	17	(	(	PUNCT
gujaf-145	383	18	1996	1996	NUM
gujaf-145	383	19	)	)	PUNCT
gujaf-145	383	20	,	,	PUNCT
gujaf-145	383	21	“	"	PUNCT
gujaf-145	383	22	boards	board	NOUN
gujaf-145	383	23	of	of	ADP
gujaf-145	383	24	directors	director	NOUN
gujaf-145	383	25	:	:	PUNCT
gujaf-145	383	26	a	a	DET
gujaf-145	383	27	review	review	NOUN
gujaf-145	383	28	and	and	CCONJ
gujaf-145	383	29	research	research	NOUN
gujaf-145	383	30	agenda	agenda	NOUN
gujaf-145	383	31	”	"	PUNCT
gujaf-145	383	32	,	,	PUNCT
gujaf-145	383	33	journal	journal	NOUN
gujaf-145	383	34	of	of	ADP
gujaf-145	383	35	management	management	NOUN
gujaf-145	383	36	,	,	PUNCT
gujaf-145	383	37	22(3	22(3	NUM
gujaf-145	383	38	)	)	PUNCT
gujaf-145	383	39	,	,	PUNCT
gujaf-145	383	40	409	409	NUM
gujaf-145	383	41	-	-	SYM
gujaf-145	383	42	438	438	NUM
gujaf-145	383	43	.	.	PUNCT
gujaf-145	383	44	jung	jung	PROPN
gujaf-145	383	45	,	,	PUNCT
gujaf-145	383	46	k.	k.	PROPN
gujaf-145	383	47	,	,	PUNCT
gujaf-145	383	48	&	&	CCONJ
gujaf-145	383	49	kwon	kwon	PROPN
gujaf-145	383	50	,	,	PUNCT
gujaf-145	383	51	s.	s.	PROPN
gujaf-145	383	52	y.	y.	PROPN
gujaf-145	383	53	(	(	PUNCT
gujaf-145	383	54	2002	2002	NUM
gujaf-145	383	55	)	)	PUNCT
gujaf-145	383	56	,	,	PUNCT
gujaf-145	383	57	”	"	PUNCT
gujaf-145	383	58	ownership	ownership	NOUN
gujaf-145	383	59	structure	structure	NOUN
gujaf-145	383	60	and	and	CCONJ
gujaf-145	383	61	earnings	earning	NOUN
gujaf-145	383	62	informativeness	informativeness	ADJ
gujaf-145	383	63	evidence	evidence	NOUN
gujaf-145	383	64	from	from	ADP
gujaf-145	383	65	korea	korea	PROPN
gujaf-145	383	66	”	"	PUNCT
gujaf-145	383	67	,	,	PUNCT
gujaf-145	383	68	the	the	DET
gujaf-145	383	69	international	international	ADJ
gujaf-145	383	70	journal	journal	NOUN
gujaf-145	383	71	of	of	ADP
gujaf-145	383	72	accounting	accounting	NOUN
gujaf-145	383	73	,	,	PUNCT
gujaf-145	383	74	pp	pp	PROPN
gujaf-145	383	75	.	.	PUNCT
gujaf-145	384	1	301	301	NUM
gujaf-145	384	2	-	-	SYM
gujaf-145	384	3	325	325	NUM
gujaf-145	384	4	.	.	PUNCT
gujaf-145	385	1	kazeem	kazeem	PROPN
gujaf-145	385	2	,	,	PUNCT
gujaf-145	385	3	h.s	h.s	PROPN
gujaf-145	385	4	.	.	PROPN
gujaf-145	385	5	(	(	PUNCT
gujaf-145	385	6	2015	2015	NUM
gujaf-145	385	7	)	)	PUNCT
gujaf-145	385	8	.	.	PUNCT
gujaf-145	386	1	firm	firm	ADJ
gujaf-145	386	2	specific	specific	ADJ
gujaf-145	386	3	characteristics	characteristic	NOUN
gujaf-145	386	4	and	and	CCONJ
gujaf-145	386	5	financial	financial	ADJ
gujaf-145	386	6	performance	performance	NOUN
gujaf-145	386	7	of	of	ADP
gujaf-145	386	8	listed	list	VERB
gujaf-145	386	9	insurance	insurance	NOUN
gujaf-145	386	10	firms	firm	NOUN
gujaf-145	386	11	in	in	ADP
gujaf-145	386	12	nigeria	nigeria	PROPN
gujaf-145	386	13	:	:	PUNCT
gujaf-145	386	14	unpublished	unpublished	PROPN
gujaf-145	386	15	m.sc	m.sc	PROPN
gujaf-145	386	16	dissertation	dissertation	NOUN
gujaf-145	386	17	.	.	PUNCT
gujaf-145	387	1	khalid	khalid	PROPN
gujaf-145	387	2	,	,	PUNCT
gujaf-145	387	3	w.	w.	PROPN
gujaf-145	387	4	,	,	PUNCT
gujaf-145	387	5	&	&	CCONJ
gujaf-145	387	6	khan	khan	PROPN
gujaf-145	387	7	,	,	PUNCT
gujaf-145	387	8	s.	s.	PROPN
gujaf-145	387	9	(	(	PUNCT
gujaf-145	387	10	2017	2017	NUM
gujaf-145	387	11	)	)	PUNCT
gujaf-145	387	12	.	.	PUNCT
gujaf-145	388	1	effects	effect	NOUN
gujaf-145	388	2	of	of	ADP
gujaf-145	388	3	macroeconomic	macroeconomic	ADJ
gujaf-145	388	4	variables	variable	NOUN
gujaf-145	388	5	on	on	ADP
gujaf-145	388	6	the	the	DET
gujaf-145	388	7	stock	stock	NOUN
gujaf-145	388	8	market	market	NOUN
gujaf-145	388	9	volatility	volatility	NOUN
gujaf-145	388	10	:	:	PUNCT
gujaf-145	388	11	the	the	DET
gujaf-145	388	12	pakistan	pakistan	PROPN
gujaf-145	388	13	experience	experience	NOUN
gujaf-145	388	14	.	.	PUNCT
gujaf-145	389	1	global	global	ADJ
gujaf-145	389	2	journal	journal	PROPN
gujaf-145	389	3	of	of	ADP
gujaf-145	389	4	management	management	NOUN
gujaf-145	389	5	and	and	CCONJ
gujaf-145	389	6	business	business	NOUN
gujaf-145	389	7	research	research	NOUN
gujaf-145	389	8	:	:	PUNCT
gujaf-145	389	9	b	b	X
gujaf-145	389	10	economics	economic	NOUN
gujaf-145	389	11	and	and	CCONJ
gujaf-145	389	12	commerce	commerce	NOUN
gujaf-145	389	13	,	,	PUNCT
gujaf-145	389	14	17(4	17(4	NUM
gujaf-145	389	15	)	)	PUNCT
gujaf-145	389	16	,	,	PUNCT
gujaf-145	389	17	68	68	NUM
gujaf-145	389	18	-	-	SYM
gujaf-145	389	19	91	91	NUM
gujaf-145	389	20	.	.	PUNCT
gujaf-145	390	1	kiel	kiel	PROPN
gujaf-145	390	2	,	,	PUNCT
gujaf-145	390	3	h.	h.	PROPN
gujaf-145	390	4	,	,	PUNCT
gujaf-145	390	5	&	&	CCONJ
gujaf-145	390	6	nicholson	nicholson	PROPN
gujaf-145	390	7	,	,	PUNCT
gujaf-145	390	8	g.	g.	PROPN
gujaf-145	390	9	j.	j.	PROPN
gujaf-145	390	10	,	,	PUNCT
gujaf-145	390	11	(	(	PUNCT
gujaf-145	390	12	2003	2003	NUM
gujaf-145	390	13	)	)	PUNCT
gujaf-145	390	14	.	.	PUNCT
gujaf-145	391	1	board	board	NOUN
gujaf-145	391	2	composition	composition	NOUN
gujaf-145	391	3	and	and	CCONJ
gujaf-145	391	4	corporate	corporate	ADJ
gujaf-145	391	5	performance	performance	NOUN
gujaf-145	391	6	:	:	PUNCT
gujaf-145	391	7	how	how	SCONJ
gujaf-145	391	8	the	the	DET
gujaf-145	391	9	australian	australian	ADJ
gujaf-145	391	10	experience	experience	NOUN
gujaf-145	391	11	informs	inform	VERB
gujaf-145	391	12	contrasting	contrast	VERB
gujaf-145	391	13	theories	theory	NOUN
gujaf-145	391	14	of	of	ADP
gujaf-145	391	15	corporate	corporate	ADJ
gujaf-145	391	16	governance	governance	NOUN
gujaf-145	391	17	.	.	PUNCT
gujaf-145	392	1	corporate	corporate	ADJ
gujaf-145	392	2	governance	governance	NOUN
gujaf-145	392	3	:	:	PUNCT
gujaf-145	392	4	an	an	DET
gujaf-145	392	5	international	international	ADJ
gujaf-145	392	6	review	review	NOUN
gujaf-145	392	7	,	,	PUNCT
gujaf-145	392	8	11(3	11(3	NUM
gujaf-145	392	9	)	)	PUNCT
gujaf-145	392	10	,	,	PUNCT
gujaf-145	392	11	189	189	NUM
gujaf-145	392	12	-	-	SYM
gujaf-145	392	13	205	205	NUM
gujaf-145	392	14	.	.	PUNCT
gujaf-145	393	1	kirui	kirui	PROPN
gujaf-145	393	2	,	,	PUNCT
gujaf-145	393	3	e.	e.	PROPN
gujaf-145	393	4	,	,	PUNCT
gujaf-145	393	5	wawire	wawire	NOUN
gujaf-145	393	6	,	,	PUNCT
gujaf-145	393	7	n.	n.	PROPN
gujaf-145	393	8	h.	h.	PROPN
gujaf-145	393	9	w.	w.	PROPN
gujaf-145	393	10	,	,	PUNCT
gujaf-145	393	11	&	&	CCONJ
gujaf-145	393	12	onono	onono	PROPN
gujaf-145	393	13	,	,	PUNCT
gujaf-145	393	14	p.	p.	NOUN
gujaf-145	393	15	o.	o.	PROPN
gujaf-145	393	16	(	(	PUNCT
gujaf-145	393	17	2014	2014	NUM
gujaf-145	393	18	)	)	PUNCT
gujaf-145	393	19	.	.	PUNCT
gujaf-145	394	1	macroeconomic	macroeconomic	ADJ
gujaf-145	394	2	variables	variable	NOUN
gujaf-145	394	3	,	,	PUNCT
gujaf-145	394	4	volatility	volatility	NOUN
gujaf-145	394	5	and	and	CCONJ
gujaf-145	394	6	stock	stock	NOUN
gujaf-145	394	7	market	market	NOUN
gujaf-145	394	8	returns	return	NOUN
gujaf-145	394	9	:	:	PUNCT
gujaf-145	394	10	a	a	DET
gujaf-145	394	11	case	case	NOUN
gujaf-145	394	12	of	of	ADP
gujaf-145	394	13	nairobi	nairobi	PROPN
gujaf-145	394	14	securities	securities	PROPN
gujaf-145	394	15	exchange	exchange	PROPN
gujaf-145	394	16	,	,	PUNCT
gujaf-145	394	17	kenya	kenya	PROPN
gujaf-145	394	18	.	.	PUNCT
gujaf-145	395	1	international	international	ADJ
gujaf-145	395	2	journal	journal	PROPN
gujaf-145	395	3	of	of	ADP
gujaf-145	395	4	economics	economic	NOUN
gujaf-145	395	5	and	and	CCONJ
gujaf-145	395	6	finance,6(8	finance,6(8	NOUN
gujaf-145	395	7	)	)	PUNCT
gujaf-145	395	8	,	,	PUNCT
gujaf-145	395	9	214	214	NUM
gujaf-145	395	10	-	-	SYM
gujaf-145	395	11	228	228	NUM
gujaf-145	395	12	.	.	PUNCT
gujaf-145	396	1	koh	koh	PROPN
gujaf-145	396	2	,	,	PUNCT
gujaf-145	396	3	p.	p.	PROPN
gujaf-145	396	4	s.	s.	PROPN
gujaf-145	396	5	(	(	PUNCT
gujaf-145	396	6	2003	2003	NUM
gujaf-145	396	7	)	)	PUNCT
gujaf-145	396	8	.	.	PUNCT
gujaf-145	397	1	on	on	ADP
gujaf-145	397	2	the	the	DET
gujaf-145	397	3	association	association	NOUN
gujaf-145	397	4	between	between	ADP
gujaf-145	397	5	institutional	institutional	ADJ
gujaf-145	397	6	ownership	ownership	NOUN
gujaf-145	397	7	and	and	CCONJ
gujaf-145	397	8	aggressive	aggressive	ADJ
gujaf-145	397	9	corporate	corporate	ADJ
gujaf-145	397	10	earnings	earning	NOUN
gujaf-145	397	11	management	management	NOUN
gujaf-145	397	12	in	in	ADP
gujaf-145	397	13	australia	australia	PROPN
gujaf-145	397	14	.	.	PUNCT
gujaf-145	398	1	the	the	DET
gujaf-145	398	2	british	british	PROPN
gujaf-145	398	3	accounting	accounting	PROPN
gujaf-145	398	4	review	review	PROPN
gujaf-145	398	5	,	,	PUNCT
gujaf-145	398	6	35(2	35(2	NUM
gujaf-145	398	7	)	)	PUNCT
gujaf-145	398	8	,	,	PUNCT
gujaf-145	398	9	105–128	105–128	NUM
gujaf-145	398	10	.	.	PUNCT
gujaf-145	399	1	kyereboah	kyereboah	PROPN
gujaf-145	399	2	-	-	PUNCT
gujaf-145	399	3	coleman	coleman	PROPN
gujaf-145	399	4	,	,	PUNCT
gujaf-145	399	5	a	a	PRON
gujaf-145	399	6	,	,	PUNCT
gujaf-145	399	7	&	&	CCONJ
gujaf-145	399	8	biekpe	biekpe	NOUN
gujaf-145	399	9	,	,	PUNCT
gujaf-145	399	10	n.	n.	NOUN
gujaf-145	399	11	(	(	PUNCT
gujaf-145	399	12	2005	2005	NUM
gujaf-145	399	13	)	)	PUNCT
gujaf-145	399	14	.	.	PUNCT
gujaf-145	400	1	“	"	PUNCT
gujaf-145	400	2	the	the	DET
gujaf-145	400	3	link	link	NOUN
gujaf-145	400	4	between	between	ADP
gujaf-145	400	5	corporate	corporate	ADJ
gujaf-145	400	6	governance	governance	NOUN
gujaf-145	400	7	and	and	CCONJ
gujaf-145	400	8	performance	performance	NOUN
gujaf-145	400	9	of	of	ADP
gujaf-145	400	10	the	the	DET
gujaf-145	400	11	non	non	ADJ
gujaf-145	400	12	-	-	ADJ
gujaf-145	400	13	traditional	traditional	ADJ
gujaf-145	400	14	export	export	NOUN
gujaf-145	400	15	sector	sector	NOUN
gujaf-145	400	16	:	:	PUNCT
gujaf-145	400	17	evidence	evidence	NOUN
gujaf-145	400	18	from	from	ADP
gujaf-145	400	19	ghana	ghana	PROPN
gujaf-145	400	20	”	"	PUNCT
gujaf-145	400	21	.	.	PUNCT
gujaf-145	401	1	corporate	corporate	ADJ
gujaf-145	401	2	governance	governance	NOUN
gujaf-145	401	3	:	:	PUNCT
gujaf-145	401	4	the	the	DET
gujaf-145	401	5	international	international	ADJ
gujaf-145	401	6	journal	journal	NOUN
gujaf-145	401	7	of	of	ADP
gujaf-145	401	8	business	business	NOUN
gujaf-145	401	9	in	in	ADP
gujaf-145	401	10	the	the	DET
gujaf-145	401	11	society	society	NOUN
gujaf-145	401	12	,	,	PUNCT
gujaf-145	401	13	6(5	6(5	NUM
gujaf-145	401	14	)	)	PUNCT
gujaf-145	401	15	,	,	PUNCT
gujaf-145	401	16	609	609	NUM
gujaf-145	401	17	-	-	SYM
gujaf-145	401	18	623	623	NUM
gujaf-145	401	19	.	.	PUNCT
gujaf-145	402	1	lintner	lintner	PROPN
gujaf-145	402	2	,	,	PUNCT
gujaf-145	402	3	j.	j.	PROPN
gujaf-145	402	4	(	(	PUNCT
gujaf-145	402	5	1965	1965	NUM
gujaf-145	402	6	)	)	PUNCT
gujaf-145	402	7	.	.	PUNCT
gujaf-145	403	1	the	the	DET
gujaf-145	403	2	valuation	valuation	NOUN
gujaf-145	403	3	of	of	ADP
gujaf-145	403	4	risk	risk	NOUN
gujaf-145	403	5	assets	asset	NOUN
gujaf-145	403	6	and	and	CCONJ
gujaf-145	403	7	the	the	DET
gujaf-145	403	8	selection	selection	NOUN
gujaf-145	403	9	of	of	ADP
gujaf-145	403	10	risky	risky	ADJ
gujaf-145	403	11	investment	investment	NOUN
gujaf-145	403	12	in	in	ADP
gujaf-145	403	13	stock	stock	NOUN
gujaf-145	403	14	portfolios	portfolio	NOUN
gujaf-145	403	15	and	and	CCONJ
gujaf-145	403	16	capital	capital	NOUN
gujaf-145	403	17	budgets	budget	NOUN
gujaf-145	403	18	.	.	PUNCT
gujaf-145	404	1	review	review	NOUN
gujaf-145	404	2	of	of	ADP
gujaf-145	404	3	economic	economic	ADJ
gujaf-145	404	4	statistics	statistic	NOUN
gujaf-145	404	5	,	,	PUNCT
gujaf-145	404	6	47	47	NUM
gujaf-145	404	7	,	,	PUNCT
gujaf-145	404	8	1337	1337	NUM
gujaf-145	404	9	.	.	PUNCT
gujaf-145	405	1	mbatuegwu	mbatuegwu	PROPN
gujaf-145	405	2	,	,	PUNCT
gujaf-145	405	3	d.c	d.c	PROPN
gujaf-145	405	4	.	.	PROPN
gujaf-145	405	5	,	,	PUNCT
gujaf-145	405	6	uwaleke	uwaleke	ADJ
gujaf-145	405	7	,	,	PUNCT
gujaf-145	405	8	j.	j.	PROPN
gujaf-145	405	9	u.	u.	PROPN
gujaf-145	405	10	,	,	PUNCT
gujaf-145	405	11	and	and	CCONJ
gujaf-145	405	12	aza	aza	PROPN
gujaf-145	405	13	,	,	PUNCT
gujaf-145	405	14	s.m	s.m	PROPN
gujaf-145	405	15	.	.	PROPN
gujaf-145	405	16	(	(	PUNCT
gujaf-145	405	17	2019	2019	NUM
gujaf-145	405	18	)	)	PUNCT
gujaf-145	405	19	effect	effect	NOUN
gujaf-145	405	20	of	of	ADP
gujaf-145	405	21	institutional	institutional	ADJ
gujaf-145	405	22	shareholding	shareholding	NOUN
gujaf-145	405	23	and	and	CCONJ
gujaf-145	405	24	ownership	ownership	NOUN
gujaf-145	405	25	concentration	concentration	NOUN
gujaf-145	405	26	on	on	ADP
gujaf-145	405	27	audit	audit	NOUN
gujaf-145	405	28	quality	quality	NOUN
gujaf-145	405	29	of	of	ADP
gujaf-145	405	30	listed	list	VERB
gujaf-145	405	31	oil	oil	NOUN
gujaf-145	405	32	21	21	NUM
gujaf-145	405	33	and	and	CCONJ
gujaf-145	405	34	gas	gas	NOUN
gujaf-145	405	35	companies	company	NOUN
gujaf-145	405	36	in	in	ADP
gujaf-145	405	37	nigeria	nigeria	PROPN
gujaf-145	405	38	.	.	PUNCT
gujaf-145	406	1	journal	journal	PROPN
gujaf-145	406	2	of	of	ADP
gujaf-145	406	3	accounting	accounting	PROPN
gujaf-145	406	4	(	(	PUNCT
gujaf-145	406	5	joa	joa	NOUN
gujaf-145	406	6	)	)	PUNCT
gujaf-145	407	1	vol.8	vol.8	PROPN
gujaf-145	407	2	issue	issue	NOUN
gujaf-145	407	3	1	1	X
gujaf-145	407	4	.	.	PUNCT
gujaf-145	407	5	mbatuegwu	mbatuegwu	PROPN
gujaf-145	407	6	c.d	c.d	PROPN
gujaf-145	407	7	.	.	PROPN
gujaf-145	407	8	ogoh	ogoh	PROPN
gujaf-145	407	9	t.	t.	PROPN
gujaf-145	407	10	(	(	PUNCT
gujaf-145	407	11	2021	2021	NUM
gujaf-145	407	12	)	)	PUNCT
gujaf-145	407	13	effect	effect	NOUN
gujaf-145	407	14	of	of	ADP
gujaf-145	407	15	firm	firm	ADJ
gujaf-145	407	16	attributes	attribute	NOUN
gujaf-145	407	17	on	on	ADP
gujaf-145	407	18	stock	stock	NOUN
gujaf-145	407	19	return	return	NOUN
gujaf-145	407	20	of	of	ADP
gujaf-145	407	21	quoted	quote	VERB
gujaf-145	407	22	consumers	consumer	NOUN
gujaf-145	407	23	goods	good	NOUN
gujaf-145	407	24	in	in	ADP
gujaf-145	407	25	nigeria	nigeria	PROPN
gujaf-145	407	26	.	.	PUNCT
gujaf-145	408	1	bingham	bingham	PROPN
gujaf-145	408	2	university	university	PROPN
gujaf-145	408	3	journal	journal	PROPN
gujaf-145	408	4	of	of	ADP
gujaf-145	408	5	accounting	accounting	NOUN
gujaf-145	408	6	and	and	CCONJ
gujaf-145	408	7	business	business	NOUN
gujaf-145	408	8	(	(	PUNCT
gujaf-145	408	9	bujab)vol	bujab)vol	NOUN
gujaf-145	408	10	.	.	PROPN
gujaf-145	409	1	6	6	NUM
gujaf-145	409	2	,	,	PUNCT
gujaf-145	409	3	no.2	no.2	PROPN
gujaf-145	409	4	.	.	PUNCT
gujaf-145	410	1	mbatuegwu	mbatuegwu	PROPN
gujaf-145	410	2	,	,	PUNCT
gujaf-145	410	3	d.c	d.c	PROPN
gujaf-145	410	4	.	.	PROPN
gujaf-145	410	5	,	,	PUNCT
gujaf-145	410	6	musa	musa	PROPN
gujaf-145	410	7	,	,	PUNCT
gujaf-145	410	8	a.m.	a.m.	ADV
gujaf-145	410	9	,	,	PUNCT
gujaf-145	410	10	(	(	PUNCT
gujaf-145	410	11	2021	2021	NUM
gujaf-145	410	12	)	)	PUNCT
gujaf-145	410	13	strategic	strategic	ADJ
gujaf-145	410	14	implications	implication	NOUN
gujaf-145	410	15	of	of	ADP
gujaf-145	410	16	institutional	institutional	ADJ
gujaf-145	410	17	shareholding	shareholding	NOUN
gujaf-145	410	18	and	and	CCONJ
gujaf-145	410	19	non	non	ADJ
gujaf-145	410	20	-	-	ADJ
gujaf-145	410	21	executive	executive	ADJ
gujaf-145	410	22	directors	director	NOUN
gujaf-145	410	23	on	on	ADP
gujaf-145	410	24	audit	audit	NOUN
gujaf-145	410	25	quality	quality	NOUN
gujaf-145	410	26	of	of	ADP
gujaf-145	410	27	listedoil	listedoil	NOUN
gujaf-145	410	28	and	and	CCONJ
gujaf-145	410	29	gas	gas	NOUN
gujaf-145	410	30	companies	company	NOUN
gujaf-145	410	31	in	in	ADP
gujaf-145	410	32	nigeria	nigeria	PROPN
gujaf-145	410	33	international	international	PROPN
gujaf-145	410	34	journal	journal	PROPN
gujaf-145	410	35	of	of	ADP
gujaf-145	410	36	sustainable	sustainable	ADJ
gujaf-145	410	37	development	development	NOUN
gujaf-145	410	38	vol.one	vol.one	NOUN
gujaf-145	410	39	no	no	DET
gujaf-145	410	40	7	7	NUM
gujaf-145	410	41	mizruchi	mizruchi	NOUN
gujaf-145	410	42	,	,	PUNCT
gujaf-145	410	43	m.	m.	NOUN
gujaf-145	410	44	s.	s.	PROPN
gujaf-145	410	45	,	,	PUNCT
gujaf-145	410	46	(	(	PUNCT
gujaf-145	410	47	1983	1983	NUM
gujaf-145	410	48	)	)	PUNCT
gujaf-145	410	49	,	,	PUNCT
gujaf-145	410	50	“	"	PUNCT
gujaf-145	410	51	a	a	DET
gujaf-145	410	52	longitudinal	longitudinal	ADJ
gujaf-145	410	53	study	study	NOUN
gujaf-145	410	54	of	of	ADP
gujaf-145	410	55	the	the	DET
gujaf-145	410	56	formation	formation	NOUN
gujaf-145	410	57	of	of	ADP
gujaf-145	410	58	interlocking	interlock	VERB
gujaf-145	410	59	directorates	directorate	NOUN
gujaf-145	410	60	,	,	PUNCT
gujaf-145	410	61	”	"	PUNCT
gujaf-145	410	62	administrative	administrative	ADJ
gujaf-145	410	63	science	science	NOUN
gujaf-145	410	64	quarterly	quarterly	ADV
gujaf-145	410	65	33	33	NUM
gujaf-145	410	66	,	,	PUNCT
gujaf-145	410	67	194	194	NUM
gujaf-145	410	68	-	-	SYM
gujaf-145	410	69	210	210	NUM
gujaf-145	410	70	.	.	PUNCT
gujaf-145	411	1	mossin	mossin	PROPN
gujaf-145	411	2	,	,	PUNCT
gujaf-145	411	3	a.	a.	NOUN
gujaf-145	411	4	(	(	PUNCT
gujaf-145	411	5	1966	1966	NUM
gujaf-145	411	6	)	)	PUNCT
gujaf-145	411	7	.	.	PUNCT
gujaf-145	412	1	capital	capital	NOUN
gujaf-145	412	2	market	market	NOUN
gujaf-145	412	3	and	and	CCONJ
gujaf-145	412	4	security	security	NOUN
gujaf-145	412	5	valuation	valuation	NOUN
gujaf-145	412	6	.	.	PUNCT
gujaf-145	413	1	econometric	econometric	PROPN
gujaf-145	413	2	,	,	PUNCT
gujaf-145	413	3	17	17	NUM
gujaf-145	413	4	,	,	PUNCT
gujaf-145	413	5	867	867	NUM
gujaf-145	413	6	-	-	SYM
gujaf-145	413	7	887	887	NUM
gujaf-145	413	8	.	.	PUNCT
gujaf-145	414	1	ntshangase	ntshangase	PROPN
gujaf-145	414	2	,	,	PUNCT
gujaf-145	414	3	k.	k.	PROPN
gujaf-145	414	4	,	,	PUNCT
gujaf-145	414	5	mingiri	mingiri	PROPN
gujaf-145	414	6	,	,	PUNCT
gujaf-145	414	7	k.f	k.f	PROPN
gujaf-145	414	8	.	.	PROPN
gujaf-145	414	9	,	,	PUNCT
gujaf-145	414	10	&	&	CCONJ
gujaf-145	414	11	palesa	palesa	PROPN
gujaf-145	414	12	,	,	PUNCT
gujaf-145	414	13	m.m	m.m	PROPN
gujaf-145	414	14	.	.	PROPN
gujaf-145	414	15	(	(	PUNCT
gujaf-145	414	16	2016	2016	NUM
gujaf-145	414	17	)	)	PUNCT
gujaf-145	414	18	.	.	PUNCT
gujaf-145	415	1	the	the	DET
gujaf-145	415	2	interaction	interaction	NOUN
gujaf-145	415	3	between	between	ADP
gujaf-145	415	4	the	the	DET
gujaf-145	415	5	stock	stock	NOUN
gujaf-145	415	6	market	market	NOUN
gujaf-145	415	7	and	and	CCONJ
gujaf-145	415	8	macroeconomic	macroeconomic	ADJ
gujaf-145	415	9	policy	policy	NOUN
gujaf-145	415	10	variables	variable	NOUN
gujaf-145	415	11	in	in	ADP
gujaf-145	415	12	south	south	PROPN
gujaf-145	415	13	africa	africa	PROPN
gujaf-145	415	14	.	.	PUNCT
gujaf-145	416	1	journal	journal	PROPN
gujaf-145	416	2	economics	economic	NOUN
gujaf-145	416	3	,	,	PUNCT
gujaf-145	416	4	7(1	7(1	NUM
gujaf-145	416	5	)	)	PUNCT
gujaf-145	416	6	,	,	PUNCT
gujaf-145	416	7	1	1	NUM
gujaf-145	416	8	-	-	SYM
gujaf-145	416	9	10	10	NUM
gujaf-145	416	10	.	.	PUNCT
gujaf-145	417	1	otieno	otieno	ADJ
gujaf-145	417	2	,	,	PUNCT
gujaf-145	417	3	m.	m.	NOUN
gujaf-145	417	4	(	(	PUNCT
gujaf-145	417	5	2016	2016	NUM
gujaf-145	417	6	)	)	PUNCT
gujaf-145	417	7	.	.	PUNCT
gujaf-145	418	1	total	total	ADJ
gujaf-145	418	2	debt	debt	NOUN
gujaf-145	418	3	servicing	servicing	NOUN
gujaf-145	418	4	and	and	CCONJ
gujaf-145	418	5	macroeconomic	macroeconomic	ADJ
gujaf-145	418	6	performance	performance	NOUN
gujaf-145	418	7	in	in	ADP
gujaf-145	418	8	kenya	kenya	PROPN
gujaf-145	418	9	.	.	PUNCT
gujaf-145	419	1	kenyatta	kenyatta	PROPN
gujaf-145	419	2	oyerogba	oyerogba	PROPN
gujaf-145	419	3	,	,	PUNCT
gujaf-145	419	4	e.	e.	PROPN
gujaf-145	419	5	o.	o.	PROPN
gujaf-145	419	6	,	,	PUNCT
gujaf-145	419	7	olaleye	olaleye	NOUN
gujaf-145	419	8	,	,	PUNCT
gujaf-145	419	9	o.	o.	NOUN
gujaf-145	419	10	m.	m.	NOUN
gujaf-145	419	11	,	,	PUNCT
gujaf-145	419	12	&	&	CCONJ
gujaf-145	419	13	zaccheaus	zaccheaus	PROPN
gujaf-145	419	14	,	,	PUNCT
gujaf-145	419	15	a.	a.	PROPN
gujaf-145	419	16	z.	z.	PROPN
gujaf-145	419	17	,	,	PUNCT
gujaf-145	419	18	(	(	PUNCT
gujaf-145	419	19	2014	2014	NUM
gujaf-145	419	20	)	)	PUNCT
gujaf-145	419	21	.	.	PUNCT
gujaf-145	420	1	the	the	DET
gujaf-145	420	2	effect	effect	NOUN
gujaf-145	420	3	of	of	ADP
gujaf-145	420	4	ownership	ownership	NOUN
gujaf-145	420	5	concentration	concentration	NOUN
gujaf-145	420	6	on	on	ADP
gujaf-145	420	7	firm	firm	ADJ
gujaf-145	420	8	value	value	NOUN
gujaf-145	420	9	of	of	ADP
gujaf-145	420	10	listed	list	VERB
gujaf-145	420	11	companies	company	NOUN
gujaf-145	420	12	.	.	PUNCT
gujaf-145	421	1	iosr	iosr	ADJ
gujaf-145	421	2	journal	journal	PROPN
gujaf-145	421	3	of	of	ADP
gujaf-145	421	4	humanities	humanity	NOUN
gujaf-145	421	5	and	and	CCONJ
gujaf-145	421	6	social	social	ADJ
gujaf-145	421	7	science	science	NOUN
gujaf-145	421	8	(	(	PUNCT
gujaf-145	421	9	iosr	iosr	NOUN
gujaf-145	421	10	-	-	PUNCT
gujaf-145	421	11	jhss	jhss	NOUN
gujaf-145	421	12	)	)	PUNCT
gujaf-145	421	13	,	,	PUNCT
gujaf-145	421	14	19	19	NUM
gujaf-145	421	15	,	,	PUNCT
gujaf-145	421	16	90	90	NUM
gujaf-145	421	17	-	-	SYM
gujaf-145	421	18	96	96	NUM
gujaf-145	421	19	.	.	PUNCT
gujaf-145	422	1	ramsey	ramsey	PROPN
gujaf-145	422	2	,	,	PUNCT
gujaf-145	422	3	h.	h.	PROPN
gujaf-145	422	4	&	&	CCONJ
gujaf-145	422	5	blair	blair	PROPN
gujaf-145	422	6	.	.	PUNCT
gujaf-145	423	1	m.	m.	NOUN
gujaf-145	423	2	(	(	PUNCT
gujaf-145	423	3	1995	1995	NUM
gujaf-145	423	4	)	)	PUNCT
gujaf-145	423	5	.	.	PUNCT
gujaf-145	424	1	ownership	ownership	NOUN
gujaf-145	424	2	and	and	CCONJ
gujaf-145	424	3	control	control	NOUN
gujaf-145	424	4	:	:	PUNCT
gujaf-145	424	5	rethinking	rethink	VERB
gujaf-145	424	6	corporate	corporate	ADJ
gujaf-145	424	7	governance	governance	NOUN
gujaf-145	424	8	for	for	ADP
gujaf-145	424	9	the	the	DET
gujaf-145	424	10	twenty	twenty	NUM
gujaf-145	424	11	first	first	ADJ
gujaf-145	424	12	century	century	NOUN
gujaf-145	424	13	,	,	PUNCT
gujaf-145	424	14	brookings	brookings	PROPN
gujaf-145	424	15	institution	institution	NOUN
gujaf-145	424	16	,	,	PUNCT
gujaf-145	424	17	washington	washington	PROPN
gujaf-145	424	18	,	,	PUNCT
gujaf-145	424	19	dc	dc	PROPN
gujaf-145	424	20	.	.	PROPN
gujaf-145	424	21	ross	ross	PROPN
gujaf-145	424	22	,	,	PUNCT
gujaf-145	424	23	s.a	s.a	PROPN
gujaf-145	424	24	.	.	PROPN
gujaf-145	424	25	(	(	PUNCT
gujaf-145	424	26	1976	1976	NUM
gujaf-145	424	27	)	)	PUNCT
gujaf-145	424	28	.	.	PUNCT
gujaf-145	425	1	the	the	DET
gujaf-145	425	2	arbitrage	arbitrage	NOUN
gujaf-145	425	3	theory	theory	NOUN
gujaf-145	425	4	of	of	ADP
gujaf-145	425	5	capital	capital	NOUN
gujaf-145	425	6	asset	asset	NOUN
gujaf-145	425	7	pricing	pricing	NOUN
gujaf-145	425	8	.	.	PUNCT
gujaf-145	426	1	the	the	DET
gujaf-145	426	2	journal	journal	NOUN
gujaf-145	426	3	of	of	ADP
gujaf-145	426	4	economic	economic	ADJ
gujaf-145	426	5	theory	theory	NOUN
gujaf-145	426	6	,	,	PUNCT
gujaf-145	426	7	13	13	NUM
gujaf-145	426	8	,	,	PUNCT
gujaf-145	426	9	341–360	341–360	NUM
gujaf-145	426	10	.	.	PUNCT
gujaf-145	427	1	sharpe	sharpe	PROPN
gujaf-145	427	2	,	,	PUNCT
gujaf-145	427	3	w.	w.	PROPN
gujaf-145	427	4	,	,	PUNCT
gujaf-145	427	5	f.	f.	PROPN
gujaf-145	427	6	,	,	PUNCT
gujaf-145	427	7	(	(	PUNCT
gujaf-145	427	8	1964	1964	NUM
gujaf-145	427	9	)	)	PUNCT
gujaf-145	427	10	.	.	PUNCT
gujaf-145	428	1	“	"	PUNCT
gujaf-145	428	2	capital	capital	NOUN
gujaf-145	428	3	asset	asset	NOUN
gujaf-145	428	4	prices	price	NOUN
gujaf-145	428	5	:	:	PUNCT
gujaf-145	428	6	a	a	DET
gujaf-145	428	7	theory	theory	NOUN
gujaf-145	428	8	of	of	ADP
gujaf-145	428	9	market	market	NOUN
gujaf-145	428	10	equilibrium	equilibrium	NOUN
gujaf-145	428	11	under	under	ADP
gujaf-145	428	12	conditions	condition	NOUN
gujaf-145	428	13	of	of	ADP
gujaf-145	428	14	risk	risk	NOUN
gujaf-145	428	15	.	.	PUNCT
gujaf-145	428	16	”	"	PUNCT
gujaf-145	429	1	journal	journal	NOUN
gujaf-145	429	2	of	of	ADP
gujaf-145	429	3	finance	finance	NOUN
gujaf-145	429	4	19	19	NUM
gujaf-145	429	5	(	(	PUNCT
gujaf-145	429	6	3	3	NUM
gujaf-145	429	7	)	)	PUNCT
gujaf-145	429	8	,	,	PUNCT
gujaf-145	429	9	425	425	NUM
gujaf-145	429	10	-	-	SYM
gujaf-145	429	11	442	442	NUM
gujaf-145	429	12	.	.	PUNCT
gujaf-145	430	1	stiglitz	stiglitz	PROPN
gujaf-145	430	2	,	,	PUNCT
gujaf-145	430	3	j.	j.	PROPN
gujaf-145	430	4	e.	e.	PROPN
gujaf-145	430	5	(	(	PUNCT
gujaf-145	430	6	1985	1985	NUM
gujaf-145	430	7	)	)	PUNCT
gujaf-145	430	8	.	.	PUNCT
gujaf-145	431	1	“	"	PUNCT
gujaf-145	431	2	credit	credit	NOUN
gujaf-145	431	3	rationing	rationing	NOUN
gujaf-145	431	4	in	in	ADP
gujaf-145	431	5	markets	market	NOUN
gujaf-145	431	6	with	with	ADP
gujaf-145	431	7	imperfect	imperfect	ADJ
gujaf-145	431	8	information	information	NOUN
gujaf-145	431	9	.	.	PUNCT
gujaf-145	431	10	”	"	PUNCT
gujaf-145	432	1	american	american	PROPN
gujaf-145	432	2	economic	economic	ADJ
gujaf-145	432	3	review	review	NOUN
gujaf-145	432	4	77:1	77:1	NUM
gujaf-145	432	5	(	(	PUNCT
gujaf-145	432	6	march	march	PROPN
gujaf-145	432	7	):	):	PUNCT
gujaf-145	432	8	228	228	NUM
gujaf-145	432	9	-	-	SYM
gujaf-145	432	10	31	31	NUM
gujaf-145	432	11	.	.	PUNCT
gujaf-145	433	1	teshima	teshima	PROPN
gujaf-145	433	2	,	,	PUNCT
gujaf-145	433	3	n.	n.	NOUN
gujaf-145	433	4	,	,	PUNCT
gujaf-145	433	5	&	&	CCONJ
gujaf-145	433	6	shuto	shuto	NOUN
gujaf-145	433	7	,	,	PUNCT
gujaf-145	433	8	a.	a.	NOUN
gujaf-145	433	9	(	(	PUNCT
gujaf-145	433	10	2008	2008	NUM
gujaf-145	433	11	)	)	PUNCT
gujaf-145	433	12	.	.	PUNCT
gujaf-145	434	1	managerial	managerial	ADJ
gujaf-145	434	2	ownership	ownership	NOUN
gujaf-145	434	3	and	and	CCONJ
gujaf-145	434	4	earnings	earning	NOUN
gujaf-145	434	5	management	management	NOUN
gujaf-145	434	6	:	:	PUNCT
gujaf-145	434	7	theory	theory	NOUN
gujaf-145	434	8	and	and	CCONJ
gujaf-145	434	9	empirical	empirical	ADJ
gujaf-145	434	10	evidence	evidence	NOUN
gujaf-145	434	11	from	from	ADP
gujaf-145	434	12	japan	japan	PROPN
gujaf-145	434	13	.	.	PUNCT
gujaf-145	435	1	journal	journal	PROPN
gujaf-145	435	2	of	of	ADP
gujaf-145	435	3	international	international	ADJ
gujaf-145	435	4	financial	financial	ADJ
gujaf-145	435	5	management	management	NOUN
gujaf-145	435	6	&	&	CCONJ
gujaf-145	435	7	accounting	accounting	PROPN
gujaf-145	435	8	,	,	PUNCT
gujaf-145	435	9	19(2	19(2	NUM
gujaf-145	435	10	)	)	PUNCT
gujaf-145	435	11	,	,	PUNCT
gujaf-145	435	12	thomsen	thomsen	PROPN
gujaf-145	435	13	s.	s.	PROPN
gujaf-145	435	14	&	&	CCONJ
gujaf-145	435	15	pedersen	pedersen	PROPN
gujaf-145	435	16	.	.	PUNCT
gujaf-145	436	1	t.	t.	PROPN
gujaf-145	436	2	(	(	PUNCT
gujaf-145	436	3	2000	2000	NUM
gujaf-145	436	4	)	)	PUNCT
gujaf-145	436	5	.	.	PUNCT
gujaf-145	437	1	ownership	ownership	NOUN
gujaf-145	437	2	structure	structure	NOUN
gujaf-145	437	3	and	and	CCONJ
gujaf-145	437	4	economic	economic	ADJ
gujaf-145	437	5	performance	performance	NOUN
gujaf-145	437	6	in	in	ADP
gujaf-145	437	7	the	the	DET
gujaf-145	437	8	largest	large	ADJ
gujaf-145	437	9	european	european	ADJ
gujaf-145	437	10	companies	company	NOUN
gujaf-145	437	11	.	.	PUNCT
gujaf-145	438	1	the	the	DET
gujaf-145	438	2	strategic	strategic	ADJ
gujaf-145	438	3	management	management	NOUN
gujaf-145	438	4	journal	journal	NOUN
gujaf-145	438	5	21	21	NUM
gujaf-145	438	6	:	:	PUNCT
gujaf-145	438	7	689	689	NUM
gujaf-145	438	8	-	-	SYM
gujaf-145	438	9	705	705	NUM
gujaf-145	438	10	.	.	PUNCT
gujaf-145	439	1	tripathi	tripathi	PROPN
gujaf-145	439	2	,	,	PUNCT
gujaf-145	439	3	v.	v.	PROPN
gujaf-145	439	4	,	,	PUNCT
gujaf-145	439	5	&	&	CCONJ
gujaf-145	439	6	seth	seth	PROPN
gujaf-145	439	7	,	,	PUNCT
gujaf-145	439	8	r.	r.	PROPN
gujaf-145	439	9	(	(	PUNCT
gujaf-145	439	10	2014	2014	NUM
gujaf-145	439	11	)	)	PUNCT
gujaf-145	439	12	.	.	PUNCT
gujaf-145	440	1	stock	stock	NOUN
gujaf-145	440	2	market	market	NOUN
gujaf-145	440	3	performance	performance	NOUN
gujaf-145	440	4	.	.	PUNCT
gujaf-145	441	1	international	international	ADJ
gujaf-145	441	2	journal	journal	PROPN
gujaf-145	441	3	of	of	ADP
gujaf-145	441	4	finance	finance	NOUN
gujaf-145	441	5	and	and	CCONJ
gujaf-145	441	6	accounting	accounting	NOUN
gujaf-145	441	7	.	.	PUNCT
gujaf-145	442	1	7(4	7(4	NUM
gujaf-145	442	2	):	):	PUNCT
gujaf-145	442	3	122	122	NUM
gujaf-145	442	4	-	-	SYM
gujaf-145	442	5	131	131	NUM
gujaf-145	442	6	.	.	PUNCT
gujaf-145	443	1	wafa	wafa	PROPN
gujaf-145	443	2	,	,	PUNCT
gujaf-145	443	3	m.	m.	NOUN
gujaf-145	443	4	a.	a.	PROPN
gujaf-145	443	5	,	,	PUNCT
gujaf-145	443	6	&	&	CCONJ
gujaf-145	443	7	younes	younes	PROPN
gujaf-145	443	8	,	,	PUNCT
gujaf-145	443	9	b.	b.	PROPN
gujaf-145	443	10	,	,	PUNCT
gujaf-145	443	11	(	(	PUNCT
gujaf-145	443	12	2014	2014	NUM
gujaf-145	443	13	)	)	PUNCT
gujaf-145	443	14	.	.	PUNCT
gujaf-145	444	1	the	the	DET
gujaf-145	444	2	relationship	relationship	NOUN
gujaf-145	444	3	between	between	ADP
gujaf-145	444	4	ownership	ownership	NOUN
gujaf-145	444	5	structure	structure	NOUN
gujaf-145	444	6	and	and	CCONJ
gujaf-145	444	7	earnings	earning	NOUN
gujaf-145	444	8	quality	quality	NOUN
gujaf-145	444	9	in	in	ADP
gujaf-145	444	10	the	the	DET
gujaf-145	444	11	french	french	ADJ
gujaf-145	444	12	contex	contex	NOUN
gujaf-145	444	13	.	.	PUNCT
gujaf-145	445	1	international	international	ADJ
gujaf-145	445	2	journal	journal	PROPN
gujaf-145	445	3	of	of	ADP
gujaf-145	445	4	accounting	accounting	NOUN
gujaf-145	445	5	and	and	CCONJ
gujaf-145	445	6	economics	economic	NOUN
gujaf-145	445	7	studies	study	NOUN
gujaf-145	445	8	,	,	PUNCT
gujaf-145	445	9	2	2	NUM
gujaf-145	445	10	(	(	PUNCT
gujaf-145	445	11	2	2	NUM
gujaf-145	445	12	)	)	PUNCT
gujaf-145	445	13	(	(	PUNCT
gujaf-145	445	14	2014	2014	NUM
gujaf-145	445	15	)	)	PUNCT
gujaf-145	445	16	80	80	NUM
gujaf-145	445	17	.	.	PUNCT
gujaf-145	446	1	22	22	NUM
gujaf-145	446	2	warfield	warfield	NOUN
gujaf-145	446	3	,	,	PUNCT
gujaf-145	446	4	t.	t.	PROPN
gujaf-145	446	5	,	,	PUNCT
gujaf-145	446	6	wild	wild	PROPN
gujaf-145	446	7	,	,	PUNCT
gujaf-145	446	8	j.	j.	PROPN
gujaf-145	446	9	&	&	CCONJ
gujaf-145	446	10	wild	wild	PROPN
gujaf-145	446	11	,	,	PUNCT
gujaf-145	446	12	k.	k.	PROPN
gujaf-145	446	13	(	(	PUNCT
gujaf-145	446	14	1995	1995	NUM
gujaf-145	446	15	)	)	PUNCT
gujaf-145	446	16	.	.	PUNCT
gujaf-145	447	1	managerial	managerial	ADJ
gujaf-145	447	2	ownership	ownership	NOUN
gujaf-145	447	3	,	,	PUNCT
gujaf-145	447	4	accounting	accounting	NOUN
gujaf-145	447	5	choices	choice	NOUN
gujaf-145	447	6	and	and	CCONJ
gujaf-145	447	7	informativeness	informativeness	NOUN
gujaf-145	447	8	of	of	ADP
gujaf-145	447	9	earnings	earning	NOUN
gujaf-145	447	10	.	.	PUNCT
gujaf-145	448	1	journal	journal	NOUN
gujaf-145	448	2	of	of	ADP
gujaf-145	448	3	accounting	accounting	NOUN
gujaf-145	448	4	and	and	CCONJ
gujaf-145	448	5	economics	economic	NOUN
gujaf-145	448	6	,	,	PUNCT
gujaf-145	448	7	20	20	NUM
gujaf-145	448	8	,	,	PUNCT
gujaf-145	448	9	61–91	61–91	NUM
gujaf-145	448	10	.	.	PUNCT
gujaf-145	449	1	uwubanmwen	uwubanmwen	PROPN
gujaf-145	449	2	,	,	PUNCT
gujaf-145	449	3	a.	a.	PROPN
gujaf-145	449	4	e.	e.	PROPN
gujaf-145	449	5	,	,	PUNCT
gujaf-145	449	6	&	&	CCONJ
gujaf-145	449	7	obayagbona	obayagbona	PROPN
gujaf-145	449	8	,	,	PUNCT
gujaf-145	449	9	j.	j.	PROPN
gujaf-145	449	10	,	,	PUNCT
gujaf-145	449	11	(	(	PUNCT
gujaf-145	449	12	2012	2012	NUM
gujaf-145	449	13	)	)	PUNCT
gujaf-145	449	14	.	.	PUNCT
gujaf-145	450	1	company	company	NOUN
gujaf-145	450	2	fundamentals	fundamental	NOUN
gujaf-145	450	3	and	and	CCONJ
gujaf-145	450	4	returns	return	NOUN
gujaf-145	450	5	in	in	ADP
gujaf-145	450	6	the	the	DET
gujaf-145	450	7	nigerian	nigerian	ADJ
gujaf-145	450	8	stock	stock	NOUN
gujaf-145	450	9	exchange	exchange	PROPN
gujaf-145	450	10	.	.	PUNCT
gujaf-145	451	1	jorind	jorind	ADJ
gujaf-145	451	2	,	,	PUNCT
gujaf-145	451	3	10(2	10(2	NUM
gujaf-145	451	4	)	)	PUNCT
gujaf-145	451	5	.	.	PUNCT
gujaf-145	452	1	yang	yang	PROPN
gujaf-145	452	2	,	,	PUNCT
gujaf-145	452	3	c.	c.	PROPN
gujaf-145	452	4	y.	y.	PROPN
gujaf-145	452	5	,	,	PUNCT
gujaf-145	452	6	chun	chun	PROPN
gujaf-145	452	7	,	,	PUNCT
gujaf-145	452	8	h.	h.	PROPN
gujaf-145	452	9	n.	n.	PROPN
gujaf-145	452	10	,	,	PUNCT
gujaf-145	452	11	&	&	CCONJ
gujaf-145	452	12	ramadili	ramadili	PROPN
gujaf-145	452	13	,	,	PUNCT
gujaf-145	452	14	b.	b.	PROPN
gujaf-145	452	15	l.	l.	PROPN
gujaf-145	452	16	,	,	PUNCT
gujaf-145	452	17	(	(	PUNCT
gujaf-145	452	18	2009	2009	NUM
gujaf-145	452	19	)	)	PUNCT
gujaf-145	452	20	.	.	PUNCT
gujaf-145	453	1	managerial	managerial	ADJ
gujaf-145	453	2	ownership	ownership	NOUN
gujaf-145	453	3	structure	structure	NOUN
gujaf-145	453	4	and	and	CCONJ
gujaf-145	453	5	earnings	earning	NOUN
gujaf-145	453	6	management	management	NOUN
gujaf-145	453	7	,	,	PUNCT
gujaf-145	453	8	journal	journal	NOUN
gujaf-145	453	9	.	.	PUNCT
gujaf-145	454	1	ttyre	ttyre	PROPN
gujaf-145	454	2	(	(	PUNCT
gujaf-145	454	3	234	234	NUM
gujaf-145	454	4	)	)	PUNCT
gujaf-145	454	5	.	.	PUNCT
gujaf-145	455	1	yuan	yuan	PROPN
gujaf-145	455	2	,	,	PUNCT
gujaf-145	455	3	j.	j.	PROPN
gujaf-145	455	4	&	&	CCONJ
gujaf-145	455	5	jiang	jiang	PROPN
gujaf-145	455	6	,	,	PUNCT
gujaf-145	455	7	y.	y.	PROPN
gujaf-145	455	8	(	(	PUNCT
gujaf-145	455	9	2008	2008	NUM
gujaf-145	455	10	)	)	PUNCT
gujaf-145	455	11	,	,	PUNCT
gujaf-145	455	12	“	"	PUNCT
gujaf-145	455	13	accounting	account	VERB
gujaf-145	455	14	information	information	NOUN
gujaf-145	455	15	quality	quality	NOUN
gujaf-145	455	16	,	,	PUNCT
gujaf-145	455	17	free	free	ADJ
gujaf-145	455	18	cash	cash	NOUN
gujaf-145	455	19	flow	flow	NOUN
gujaf-145	455	20	and	and	CCONJ
gujaf-145	455	21	overinvestment	overinvestment	NOUN
gujaf-145	455	22	:	:	PUNCT
gujaf-145	455	23	a	a	DET
gujaf-145	455	24	chinese	chinese	ADJ
gujaf-145	455	25	study	study	NOUN
gujaf-145	455	26	”	"	PUNCT
gujaf-145	455	27	,	,	PUNCT
gujaf-145	455	28	the	the	DET
gujaf-145	455	29	business	business	NOUN
gujaf-145	455	30	review	review	PROPN
gujaf-145	455	31	,	,	PUNCT
gujaf-145	455	32	cambridge	cambridge	PROPN
gujaf-145	455	33	,	,	PUNCT
gujaf-145	455	34	11	11	NUM
gujaf-145	455	35	(	(	PUNCT
gujaf-145	455	36	1	1	NUM
gujaf-145	455	37	)	)	PUNCT
gujaf-145	455	38	,	,	PUNCT
gujaf-145	455	39	159	159	NUM
gujaf-145	455	40	-	-	SYM
gujaf-145	455	41	166	166	NUM
gujaf-145	455	42	.	.	PUNCT