id	sid	tid	token	lemma	pos
gujaf-378	1	1	microsoft	microsoft	PROPN
gujaf-378	1	2	word	word	PROPN
gujaf-378	1	3	fk	fk	INTJ
gujaf-378	1	4	to	to	ADP
gujaf-378	1	5	mr	mr	PROPN
gujaf-378	1	6	hassan	hassan	PROPN
gujaf-378	1	7	6	6	NUM
gujaf-378	1	8	1	1	NUM
gujaf-378	1	9	gusau	gusau	ADJ
gujaf-378	1	10	journal	journal	NOUN
gujaf-378	1	11	of	of	ADP
gujaf-378	1	12	accounting	accounting	NOUN
gujaf-378	1	13	and	and	CCONJ
gujaf-378	1	14	finance	finance	NOUN
gujaf-378	1	15	,	,	PUNCT
gujaf-378	1	16	vol.6	vol.6	PROPN
gujaf-378	1	17	,	,	PUNCT
gujaf-378	1	18	issue	issue	NOUN
gujaf-378	1	19	1	1	NUM
gujaf-378	1	20	,	,	PUNCT
gujaf-378	1	21	april	april	PROPN
gujaf-378	1	22	,	,	PUNCT
gujaf-378	1	23	2025	2025	NUM
gujaf-378	1	24	189	189	NUM
gujaf-378	1	25	examining	examine	VERB
gujaf-378	1	26	the	the	DET
gujaf-378	1	27	value	value	NOUN
gujaf-378	1	28	relevance	relevance	NOUN
gujaf-378	1	29	of	of	ADP
gujaf-378	1	30	accounting	accounting	NOUN
gujaf-378	1	31	information	information	NOUN
gujaf-378	1	32	:	:	PUNCT
gujaf-378	1	33	evidence	evidence	NOUN
gujaf-378	1	34	from	from	ADP
gujaf-378	1	35	nairobi	nairobi	PROPN
gujaf-378	1	36	stock	stock	PROPN
gujaf-378	1	37	exchange	exchange	PROPN
gujaf-378	1	38	(	(	PUNCT
gujaf-378	1	39	nse	nse	NOUN
gujaf-378	1	40	)	)	PUNCT
gujaf-378	1	41	mehreteab	mehreteab	NOUN
gujaf-378	1	42	yonas	yonas	PROPN
gujaf-378	1	43	kiflom1	kiflom1	PROPN
gujaf-378	1	44	,	,	PUNCT
gujaf-378	1	45	*	*	PUNCT
gujaf-378	1	46	,	,	PUNCT
gujaf-378	1	47	zhang	zhang	PROPN
gujaf-378	1	48	rui2	rui2	PROPN
gujaf-378	1	49	,	,	PUNCT
gujaf-378	1	50	lijuan	lijuan	PROPN
gujaf-378	1	51	xiao3	xiao3	PROPN
gujaf-378	1	52	,	,	PUNCT
gujaf-378	1	53	asif	asif	PROPN
gujaf-378	1	54	jam	jam	PROPN
gujaf-378	1	55	muhammad	muhammad	PROPN
gujaf-378	1	56	farooq4	farooq4	PROPN
gujaf-378	1	57	,	,	PUNCT
gujaf-378	1	58	lukman	lukman	PROPN
gujaf-378	1	59	jimoh	jimoh	ADJ
gujaf-378	1	60	rahim5	rahim5	NOUN
gujaf-378	1	61	1,2,3,4school	1,2,3,4school	NUM
gujaf-378	1	62	of	of	ADP
gujaf-378	1	63	accountancy	accountancy	NOUN
gujaf-378	1	64	,	,	PUNCT
gujaf-378	1	65	jiangxi	jiangxi	PROPN
gujaf-378	1	66	university	university	PROPN
gujaf-378	1	67	of	of	ADP
gujaf-378	1	68	finance	finance	NOUN
gujaf-378	1	69	and	and	CCONJ
gujaf-378	1	70	economics	economic	NOUN
gujaf-378	1	71	,	,	PUNCT
gujaf-378	1	72	nanchang	nanchang	PROPN
gujaf-378	1	73	,	,	PUNCT
gujaf-378	1	74	china	china	PROPN
gujaf-378	1	75	5	5	NUM
gujaf-378	1	76	department	department	NOUN
gujaf-378	1	77	of	of	ADP
gujaf-378	1	78	accounting	accounting	PROPN
gujaf-378	1	79	,	,	PUNCT
gujaf-378	1	80	university	university	PROPN
gujaf-378	1	81	of	of	ADP
gujaf-378	1	82	jos	jos	PROPN
gujaf-378	1	83	,	,	PUNCT
gujaf-378	1	84	nigeria	nigeria	PROPN
gujaf-378	1	85	*	*	PUNCT
gujaf-378	1	86	correspondence	correspondence	NOUN
gujaf-378	1	87	:	:	PUNCT
gujaf-378	1	88	email	email	NOUN
gujaf-378	1	89	address	address	NOUN
gujaf-378	1	90	of	of	ADP
gujaf-378	1	91	corresponding	corresponding	ADJ
gujaf-378	1	92	author	author	NOUN
gujaf-378	1	93	yonas2015.yk@gmail.com	yonas2015.yk@gmail.com	PROPN
gujaf-378	1	94	+8613177894801	+8613177894801	PROPN
gujaf-378	1	95	https://doi.org/10.57233/gujaf.v6i1.13	https://doi.org/10.57233/gujaf.v6i1.13	VERB
gujaf-378	2	1	abstract	abstract	ADJ
gujaf-378	2	2	prior	prior	ADJ
gujaf-378	2	3	studies	study	NOUN
gujaf-378	2	4	indicate	indicate	VERB
gujaf-378	2	5	that	that	SCONJ
gujaf-378	2	6	with	with	ADP
gujaf-378	2	7	the	the	DET
gujaf-378	2	8	transition	transition	NOUN
gujaf-378	2	9	of	of	ADP
gujaf-378	2	10	economy	economy	NOUN
gujaf-378	2	11	from	from	ADP
gujaf-378	2	12	industrial	industrial	ADJ
gujaf-378	2	13	to	to	ADP
gujaf-378	2	14	a	a	DET
gujaf-378	2	15	technology	technology	NOUN
gujaf-378	2	16	-	-	PUNCT
gujaf-378	2	17	driven	drive	VERB
gujaf-378	2	18	service	service	NOUN
gujaf-378	2	19	-	-	PUNCT
gujaf-378	2	20	oriented	orient	VERB
gujaf-378	2	21	economy	economy	NOUN
gujaf-378	2	22	,	,	PUNCT
gujaf-378	2	23	the	the	DET
gujaf-378	2	24	usefulness	usefulness	NOUN
gujaf-378	2	25	of	of	ADP
gujaf-378	2	26	accounting	accounting	NOUN
gujaf-378	2	27	numbers	number	NOUN
gujaf-378	2	28	,	,	PUNCT
gujaf-378	2	29	especially	especially	ADV
gujaf-378	2	30	earnings	earning	NOUN
gujaf-378	2	31	,	,	PUNCT
gujaf-378	2	32	has	have	AUX
gujaf-378	2	33	reduced	reduce	VERB
gujaf-378	2	34	.	.	PUNCT
gujaf-378	3	1	this	this	PRON
gujaf-378	3	2	is	be	AUX
gujaf-378	3	3	shown	show	VERB
gujaf-378	3	4	by	by	ADP
gujaf-378	3	5	the	the	DET
gujaf-378	3	6	obscurity	obscurity	NOUN
gujaf-378	3	7	of	of	ADP
gujaf-378	3	8	the	the	DET
gujaf-378	3	9	link	link	NOUN
gujaf-378	3	10	between	between	ADP
gujaf-378	3	11	market	market	NOUN
gujaf-378	3	12	stock	stock	NOUN
gujaf-378	3	13	prices	price	NOUN
gujaf-378	3	14	in	in	ADP
gujaf-378	3	15	accounting	accounting	NOUN
gujaf-378	3	16	figures	figure	NOUN
gujaf-378	3	17	,	,	PUNCT
gujaf-378	3	18	especially	especially	ADV
gujaf-378	3	19	earnings	earning	NOUN
gujaf-378	3	20	.	.	PUNCT
gujaf-378	4	1	based	base	VERB
gujaf-378	4	2	on	on	ADP
gujaf-378	4	3	his	his	PRON
gujaf-378	4	4	perspective	perspective	NOUN
gujaf-378	4	5	,	,	PUNCT
gujaf-378	4	6	this	this	DET
gujaf-378	4	7	study	study	NOUN
gujaf-378	4	8	examines	examine	VERB
gujaf-378	4	9	the	the	DET
gujaf-378	4	10	extent	extent	NOUN
gujaf-378	4	11	of	of	ADP
gujaf-378	4	12	stock	stock	NOUN
gujaf-378	4	13	price	price	NOUN
gujaf-378	4	14	movement	movement	NOUN
gujaf-378	4	15	explained	explain	VERB
gujaf-378	4	16	by	by	ADP
gujaf-378	4	17	the	the	DET
gujaf-378	4	18	change	change	NOUN
gujaf-378	4	19	in	in	ADP
gujaf-378	4	20	key	key	ADJ
gujaf-378	4	21	accounting	accounting	NOUN
gujaf-378	4	22	metrics	metric	NOUN
gujaf-378	4	23	using	use	VERB
gujaf-378	4	24	companies	company	NOUN
gujaf-378	4	25	listed	list	VERB
gujaf-378	4	26	on	on	ADP
gujaf-378	4	27	the	the	DET
gujaf-378	4	28	nairobi	nairobi	PROPN
gujaf-378	4	29	securities	securities	PROPN
gujaf-378	4	30	exchange	exchange	PROPN
gujaf-378	4	31	.	.	PUNCT
gujaf-378	5	1	the	the	DET
gujaf-378	5	2	sample	sample	NOUN
gujaf-378	5	3	comprises	comprise	VERB
gujaf-378	5	4	56	56	NUM
gujaf-378	5	5	listed	list	VERB
gujaf-378	5	6	companies	company	NOUN
gujaf-378	5	7	across	across	ADP
gujaf-378	5	8	23	23	NUM
gujaf-378	5	9	sectors	sector	NOUN
gujaf-378	5	10	from	from	ADP
gujaf-378	5	11	2016	2016	NUM
gujaf-378	5	12	to	to	ADP
gujaf-378	5	13	2023	2023	NUM
gujaf-378	5	14	.	.	PUNCT
gujaf-378	6	1	using	use	VERB
gujaf-378	6	2	a	a	DET
gujaf-378	6	3	panel	panel	NOUN
gujaf-378	6	4	data	datum	NOUN
gujaf-378	6	5	fixed	fix	VERB
gujaf-378	6	6	effects	effect	NOUN
gujaf-378	6	7	regression	regression	NOUN
gujaf-378	6	8	,	,	PUNCT
gujaf-378	6	9	we	we	PRON
gujaf-378	6	10	examine	examine	VERB
gujaf-378	6	11	the	the	DET
gujaf-378	6	12	impacts	impact	NOUN
gujaf-378	6	13	of	of	ADP
gujaf-378	6	14	key	key	ADJ
gujaf-378	6	15	accounting	accounting	NOUN
gujaf-378	6	16	metrics	metric	NOUN
gujaf-378	6	17	on	on	ADP
gujaf-378	6	18	market	market	NOUN
gujaf-378	6	19	share	share	NOUN
gujaf-378	6	20	prices	price	NOUN
gujaf-378	6	21	.	.	PUNCT
gujaf-378	7	1	we	we	PRON
gujaf-378	7	2	find	find	VERB
gujaf-378	7	3	that	that	SCONJ
gujaf-378	7	4	both	both	PRON
gujaf-378	7	5	(	(	PUNCT
gujaf-378	7	6	lneps	lnep	NOUN
gujaf-378	7	7	β	β	X
gujaf-378	7	8	=	=	SYM
gujaf-378	7	9	0.137	0.137	NUM
gujaf-378	7	10	;	;	PUNCT
gujaf-378	7	11	p	p	X
gujaf-378	7	12	<	<	X
gujaf-378	7	13	0.05	0.05	NUM
gujaf-378	7	14	)	)	PUNCT
gujaf-378	7	15	and	and	CCONJ
gujaf-378	7	16	(	(	PUNCT
gujaf-378	7	17	lndps	lndps	PROPN
gujaf-378	7	18	β	β	X
gujaf-378	7	19	=	=	NOUN
gujaf-378	7	20	0.331	0.331	NUM
gujaf-378	7	21	;	;	PUNCT
gujaf-378	7	22	p	p	X
gujaf-378	7	23	<	<	X
gujaf-378	7	24	0.01	0.01	NUM
gujaf-378	7	25	)	)	PUNCT
gujaf-378	7	26	have	have	VERB
gujaf-378	7	27	statistically	statistically	ADV
gujaf-378	7	28	significant	significant	ADJ
gujaf-378	7	29	positive	positive	ADJ
gujaf-378	7	30	relationships	relationship	NOUN
gujaf-378	7	31	with	with	ADP
gujaf-378	7	32	share	share	NOUN
gujaf-378	7	33	prices	price	NOUN
gujaf-378	7	34	in	in	ADP
gujaf-378	7	35	the	the	DET
gujaf-378	7	36	market	market	NOUN
gujaf-378	7	37	(	(	PUNCT
gujaf-378	7	38	lnmsp	lnmsp	PROPN
gujaf-378	7	39	)	)	PUNCT
gujaf-378	7	40	.	.	PUNCT
gujaf-378	8	1	in	in	ADP
gujaf-378	8	2	contrast	contrast	NOUN
gujaf-378	8	3	,	,	PUNCT
gujaf-378	8	4	lnocf	lnocf	PROPN
gujaf-378	8	5	(	(	PUNCT
gujaf-378	8	6	β	β	X
gujaf-378	8	7	=	=	NOUN
gujaf-378	8	8	0.01	0.01	NUM
gujaf-378	8	9	,	,	PUNCT
gujaf-378	8	10	p	p	X
gujaf-378	8	11	<	<	X
gujaf-378	8	12	0.1	0.1	NUM
gujaf-378	8	13	)	)	PUNCT
gujaf-378	8	14	and	and	CCONJ
gujaf-378	8	15	lnta	lnta	NOUN
gujaf-378	8	16	(	(	PUNCT
gujaf-378	8	17	β	β	X
gujaf-378	8	18	=	=	SYM
gujaf-378	8	19	0.013	0.013	NUM
gujaf-378	8	20	,	,	PUNCT
gujaf-378	8	21	p	p	X
gujaf-378	8	22	<	<	X
gujaf-378	8	23	0.1	0.1	NUM
gujaf-378	8	24	)	)	PUNCT
gujaf-378	8	25	have	have	VERB
gujaf-378	8	26	positive	positive	ADJ
gujaf-378	8	27	but	but	CCONJ
gujaf-378	8	28	insignificant	insignificant	ADJ
gujaf-378	8	29	impact	impact	NOUN
gujaf-378	8	30	effects	effect	NOUN
gujaf-378	8	31	.	.	PUNCT
gujaf-378	9	1	the	the	DET
gujaf-378	9	2	r	r	NOUN
gujaf-378	9	3	-	-	PUNCT
gujaf-378	9	4	squared	square	VERB
gujaf-378	9	5	of	of	ADP
gujaf-378	9	6	the	the	DET
gujaf-378	9	7	model	model	NOUN
gujaf-378	9	8	is	be	AUX
gujaf-378	9	9	0.471	0.471	NUM
gujaf-378	9	10	,	,	PUNCT
gujaf-378	9	11	indicating	indicate	VERB
gujaf-378	9	12	that	that	SCONJ
gujaf-378	9	13	the	the	DET
gujaf-378	9	14	four	four	NUM
gujaf-378	9	15	accounting	accounting	NOUN
gujaf-378	9	16	variables	variable	NOUN
gujaf-378	9	17	explain	explain	VERB
gujaf-378	9	18	47.1	47.1	NUM
gujaf-378	9	19	%	%	NOUN
gujaf-378	9	20	of	of	ADP
gujaf-378	9	21	the	the	DET
gujaf-378	9	22	movement	movement	NOUN
gujaf-378	9	23	in	in	ADP
gujaf-378	9	24	stock	stock	NOUN
gujaf-378	9	25	price	price	NOUN
gujaf-378	9	26	.	.	PUNCT
gujaf-378	10	1	the	the	DET
gujaf-378	10	2	findings	finding	NOUN
gujaf-378	10	3	align	align	VERB
gujaf-378	10	4	with	with	ADP
gujaf-378	10	5	the	the	DET
gujaf-378	10	6	dividend	dividend	NOUN
gujaf-378	10	7	signaling	signal	VERB
gujaf-378	10	8	theory	theory	NOUN
gujaf-378	10	9	and	and	CCONJ
gujaf-378	10	10	the	the	DET
gujaf-378	10	11	bird	bird	NOUN
gujaf-378	10	12	-	-	PUNCT
gujaf-378	10	13	in	in	ADP
gujaf-378	10	14	-	-	PUNCT
gujaf-378	10	15	hand	hand	NOUN
gujaf-378	10	16	theory	theory	NOUN
gujaf-378	10	17	.	.	PUNCT
gujaf-378	11	1	additionally	additionally	ADV
gujaf-378	11	2	,	,	PUNCT
gujaf-378	11	3	the	the	DET
gujaf-378	11	4	findings	finding	NOUN
gujaf-378	11	5	show	show	VERB
gujaf-378	11	6	the	the	DET
gujaf-378	11	7	existence	existence	NOUN
gujaf-378	11	8	of	of	ADP
gujaf-378	11	9	a	a	DET
gujaf-378	11	10	weak	weak	ADJ
gujaf-378	11	11	-	-	PUNCT
gujaf-378	11	12	form	form	NOUN
gujaf-378	11	13	efficient	efficient	ADJ
gujaf-378	11	14	market	market	NOUN
gujaf-378	11	15	in	in	ADP
gujaf-378	11	16	the	the	DET
gujaf-378	11	17	nairobi	nairobi	PROPN
gujaf-378	11	18	stock	stock	PROPN
gujaf-378	11	19	exchange	exchange	PROPN
gujaf-378	11	20	.	.	PUNCT
gujaf-378	12	1	generally	generally	ADV
gujaf-378	12	2	,	,	PUNCT
gujaf-378	12	3	the	the	DET
gujaf-378	12	4	study	study	NOUN
gujaf-378	12	5	confirms	confirm	VERB
gujaf-378	12	6	the	the	DET
gujaf-378	12	7	persistence	persistence	NOUN
gujaf-378	12	8	of	of	ADP
gujaf-378	12	9	accounting	accounting	NOUN
gujaf-378	12	10	information	information	NOUN
gujaf-378	12	11	’s	’s	PART
gujaf-378	12	12	value	value	NOUN
gujaf-378	12	13	relevance	relevance	NOUN
gujaf-378	12	14	in	in	ADP
gujaf-378	12	15	equity	equity	NOUN
gujaf-378	12	16	investments	investment	NOUN
gujaf-378	12	17	in	in	ADP
gujaf-378	12	18	kenya	kenya	PROPN
gujaf-378	12	19	.	.	PUNCT
gujaf-378	13	1	keywords	keyword	NOUN
gujaf-378	13	2	:	:	PUNCT
gujaf-378	13	3	market	market	NOUN
gujaf-378	13	4	share	share	NOUN
gujaf-378	13	5	price	price	NOUN
gujaf-378	13	6	;	;	PUNCT
gujaf-378	13	7	earnings	earning	NOUN
gujaf-378	13	8	per	per	ADP
gujaf-378	13	9	share	share	NOUN
gujaf-378	13	10	;	;	PUNCT
gujaf-378	13	11	dividends	dividend	NOUN
gujaf-378	13	12	per	per	ADP
gujaf-378	13	13	share	share	NOUN
gujaf-378	13	14	;	;	PUNCT
gujaf-378	13	15	operating	operate	VERB
gujaf-378	13	16	cash	cash	NOUN
gujaf-378	13	17	flows	flow	NOUN
gujaf-378	13	18	;	;	PUNCT
gujaf-378	13	19	total	total	ADJ
gujaf-378	13	20	assets	asset	NOUN
gujaf-378	13	21	.	.	PUNCT
gujaf-378	14	1	jel	jel	PROPN
gujaf-378	14	2	codes	code	NOUN
gujaf-378	14	3	:	:	PUNCT
gujaf-378	14	4	g14	g14	PROPN
gujaf-378	14	5	,	,	PUNCT
gujaf-378	14	6	g15	g15	PROPN
gujaf-378	14	7	,	,	PUNCT
gujaf-378	14	8	m41	m41	NOUN
gujaf-378	14	9	1.0	1.0	NUM
gujaf-378	14	10	introduction	introduction	NOUN
gujaf-378	14	11	accounting	accounting	NOUN
gujaf-378	14	12	information	information	NOUN
gujaf-378	14	13	is	be	AUX
gujaf-378	14	14	generated	generate	VERB
gujaf-378	14	15	from	from	ADP
gujaf-378	14	16	accounting	accounting	NOUN
gujaf-378	14	17	process	process	NOUN
gujaf-378	14	18	which	which	PRON
gujaf-378	14	19	includes	include	VERB
gujaf-378	14	20	recording	recording	NOUN
gujaf-378	14	21	,	,	PUNCT
gujaf-378	14	22	summarizing	summarizing	NOUN
gujaf-378	14	23	,	,	PUNCT
gujaf-378	14	24	processing	processing	NOUN
gujaf-378	14	25	,	,	PUNCT
gujaf-378	14	26	communicating	communicate	VERB
gujaf-378	14	27	,	,	PUNCT
gujaf-378	14	28	and	and	CCONJ
gujaf-378	14	29	interpreting	interpret	VERB
gujaf-378	14	30	organizations	organization	NOUN
gujaf-378	14	31	’	'	PUNCT
gujaf-378	14	32	activities	activity	NOUN
gujaf-378	14	33	.	.	PUNCT
gujaf-378	15	1	a	a	DET
gujaf-378	15	2	complete	complete	ADJ
gujaf-378	15	3	set	set	NOUN
gujaf-378	15	4	of	of	ADP
gujaf-378	15	5	financial	financial	ADJ
gujaf-378	15	6	statements1	statements1	PROPN
gujaf-378	15	7	offer	offer	VERB
gujaf-378	15	8	insights	insight	NOUN
gujaf-378	15	9	into	into	ADP
gujaf-378	15	10	a	a	DET
gujaf-378	15	11	company	company	NOUN
gujaf-378	15	12	’s	’s	PART
gujaf-378	15	13	financial	financial	ADJ
gujaf-378	15	14	performance	performance	NOUN
gujaf-378	15	15	,	,	PUNCT
gujaf-378	15	16	financial	financial	ADJ
gujaf-378	15	17	position	position	NOUN
gujaf-378	15	18	,	,	PUNCT
gujaf-378	15	19	changes	change	NOUN
gujaf-378	15	20	in	in	ADP
gujaf-378	15	21	capital	capital	NOUN
gujaf-378	15	22	,	,	PUNCT
gujaf-378	15	23	and	and	CCONJ
gujaf-378	15	24	cash	cash	NOUN
gujaf-378	15	25	flows	flow	NOUN
gujaf-378	15	26	.	.	PUNCT
gujaf-378	16	1	for	for	SCONJ
gujaf-378	16	2	the	the	DET
gujaf-378	16	3	information	information	NOUN
gujaf-378	16	4	to	to	PART
gujaf-378	16	5	be	be	AUX
gujaf-378	16	6	useful	useful	ADJ
gujaf-378	16	7	,	,	PUNCT
gujaf-378	16	8	it	it	PRON
gujaf-378	16	9	must	must	AUX
gujaf-378	16	10	be	be	AUX
gujaf-378	16	11	of	of	ADP
gujaf-378	16	12	high	high	ADJ
gujaf-378	16	13	quality	quality	NOUN
gujaf-378	16	14	,	,	PUNCT
gujaf-378	16	15	characterized	characterize	VERB
gujaf-378	16	16	by	by	ADP
gujaf-378	16	17	relevance	relevance	NOUN
gujaf-378	16	18	,	,	PUNCT
gujaf-378	16	19	reliability	reliability	NOUN
gujaf-378	16	20	,	,	PUNCT
gujaf-378	16	21	comparability	comparability	NOUN
gujaf-378	16	22	,	,	PUNCT
gujaf-378	16	23	and	and	CCONJ
gujaf-378	16	24	consistency	consistency	NOUN
gujaf-378	16	25	(	(	PUNCT
gujaf-378	16	26	pelekh	pelekh	PROPN
gujaf-378	16	27	et	et	PROPN
gujaf-378	16	28	al	al	PROPN
gujaf-378	16	29	.	.	PROPN
gujaf-378	16	30	,	,	PUNCT
gujaf-378	16	31	2020	2020	NUM
gujaf-378	16	32	)	)	PUNCT
gujaf-378	16	33	.	.	PUNCT
gujaf-378	17	1	for	for	SCONJ
gujaf-378	17	2	a	a	DET
gujaf-378	17	3	financial	financial	ADJ
gujaf-378	17	4	reporting	reporting	NOUN
gujaf-378	17	5	system	system	NOUN
gujaf-378	17	6	to	to	PART
gujaf-378	17	7	be	be	AUX
gujaf-378	17	8	effective	effective	ADJ
gujaf-378	17	9	,	,	PUNCT
gujaf-378	17	10	users	user	NOUN
gujaf-378	17	11	are	be	AUX
gujaf-378	17	12	also	also	ADV
gujaf-378	17	13	required	require	VERB
gujaf-378	17	14	to	to	PART
gujaf-378	17	15	possess	possess	VERB
gujaf-378	17	16	the	the	DET
gujaf-378	17	17	competence	competence	NOUN
gujaf-378	17	18	to	to	PART
gujaf-378	17	19	understand	understand	VERB
gujaf-378	17	20	the	the	DET
gujaf-378	17	21	significance	significance	NOUN
gujaf-378	17	22	of	of	ADP
gujaf-378	17	23	the	the	DET
gujaf-378	17	24	information	information	NOUN
gujaf-378	17	25	provided	provide	VERB
gujaf-378	17	26	and	and	CCONJ
gujaf-378	17	27	be	be	AUX
gujaf-378	17	28	capable	capable	ADJ
gujaf-378	17	29	of	of	ADP
gujaf-378	17	30	making	make	VERB
gujaf-378	17	31	rational	rational	ADJ
gujaf-378	17	32	decisions	decision	NOUN
gujaf-378	17	33	(	(	PUNCT
gujaf-378	17	34	cohen	cohen	NOUN
gujaf-378	17	35	et	et	PROPN
gujaf-378	17	36	al	al	PROPN
gujaf-378	17	37	.	.	PROPN
gujaf-378	17	38	,	,	PUNCT
gujaf-378	17	39	2022	2022	NUM
gujaf-378	17	40	)	)	PUNCT
gujaf-378	17	41	.	.	PUNCT
gujaf-378	18	1	1	1	NUM
gujaf-378	18	2	according	accord	VERB
gujaf-378	18	3	to	to	ADP
gujaf-378	18	4	ias	ias	PROPN
gujaf-378	18	5	1	1	NUM
gujaf-378	18	6	,	,	PUNCT
gujaf-378	18	7	a	a	DET
gujaf-378	18	8	complete	complete	ADJ
gujaf-378	18	9	set	set	NOUN
gujaf-378	18	10	of	of	ADP
gujaf-378	18	11	financial	financial	ADJ
gujaf-378	18	12	statements	statement	NOUN
gujaf-378	18	13	comprises	comprise	VERB
gujaf-378	18	14	the	the	DET
gujaf-378	18	15	statements	statement	NOUN
gujaf-378	18	16	of	of	ADP
gujaf-378	18	17	financial	financial	ADJ
gujaf-378	18	18	position	position	NOUN
gujaf-378	18	19	,	,	PUNCT
gujaf-378	18	20	profit	profit	NOUN
gujaf-378	18	21	or	or	CCONJ
gujaf-378	18	22	loss	loss	NOUN
gujaf-378	18	23	and	and	CCONJ
gujaf-378	18	24	other	other	ADJ
gujaf-378	18	25	comprehensive	comprehensive	ADJ
gujaf-378	18	26	income	income	NOUN
gujaf-378	18	27	,	,	PUNCT
gujaf-378	18	28	changes	change	NOUN
gujaf-378	18	29	in	in	ADP
gujaf-378	18	30	equity	equity	NOUN
gujaf-378	18	31	,	,	PUNCT
gujaf-378	18	32	cash	cash	NOUN
gujaf-378	18	33	flows	flow	NOUN
gujaf-378	18	34	,	,	PUNCT
gujaf-378	18	35	and	and	CCONJ
gujaf-378	18	36	notes	note	NOUN
gujaf-378	18	37	to	to	ADP
gujaf-378	18	38	the	the	DET
gujaf-378	18	39	financial	financial	ADJ
gujaf-378	18	40	statements	statement	NOUN
gujaf-378	18	41	.	.	PUNCT
gujaf-378	19	1	gusau	gusau	PROPN
gujaf-378	19	2	journal	journal	PROPN
gujaf-378	19	3	of	of	ADP
gujaf-378	19	4	accounting	accounting	NOUN
gujaf-378	19	5	and	and	CCONJ
gujaf-378	19	6	finance	finance	NOUN
gujaf-378	19	7	,	,	PUNCT
gujaf-378	19	8	vol.6	vol.6	PROPN
gujaf-378	19	9	,	,	PUNCT
gujaf-378	19	10	issue	issue	NOUN
gujaf-378	19	11	1	1	NUM
gujaf-378	19	12	,	,	PUNCT
gujaf-378	19	13	april	april	PROPN
gujaf-378	19	14	,	,	PUNCT
gujaf-378	19	15	2025	2025	NUM
gujaf-378	19	16	190	190	NUM
gujaf-378	19	17	stockholders	stockholder	NOUN
gujaf-378	19	18	are	be	AUX
gujaf-378	19	19	among	among	ADP
gujaf-378	19	20	the	the	DET
gujaf-378	19	21	principal	principal	ADJ
gujaf-378	19	22	users	user	NOUN
gujaf-378	19	23	of	of	ADP
gujaf-378	19	24	accounting	accounting	NOUN
gujaf-378	19	25	information	information	NOUN
gujaf-378	19	26	,	,	PUNCT
gujaf-378	19	27	and	and	CCONJ
gujaf-378	19	28	they	they	PRON
gujaf-378	19	29	differ	differ	VERB
gujaf-378	19	30	in	in	ADP
gujaf-378	19	31	preference	preference	NOUN
gujaf-378	19	32	for	for	ADP
gujaf-378	19	33	one	one	NUM
gujaf-378	19	34	accounting	accounting	NOUN
gujaf-378	19	35	information	information	NOUN
gujaf-378	19	36	over	over	ADP
gujaf-378	19	37	another	another	PRON
gujaf-378	19	38	,	,	PUNCT
gujaf-378	19	39	depending	depend	VERB
gujaf-378	19	40	on	on	ADP
gujaf-378	19	41	their	their	PRON
gujaf-378	19	42	investment	investment	NOUN
gujaf-378	19	43	strategy	strategy	NOUN
gujaf-378	19	44	,	,	PUNCT
gujaf-378	19	45	risk	risk	NOUN
gujaf-378	19	46	tolerance	tolerance	NOUN
gujaf-378	19	47	,	,	PUNCT
gujaf-378	19	48	and	and	CCONJ
gujaf-378	19	49	time	time	NOUN
gujaf-378	19	50	horizon	horizon	PROPN
gujaf-378	19	51	(	(	PUNCT
gujaf-378	19	52	lukkarinen	lukkarinen	ADJ
gujaf-378	19	53	,	,	PUNCT
gujaf-378	19	54	2020	2020	NUM
gujaf-378	19	55	)	)	PUNCT
gujaf-378	19	56	.	.	PUNCT
gujaf-378	20	1	value	value	NOUN
gujaf-378	20	2	investors	investor	NOUN
gujaf-378	20	3	prioritize	prioritize	VERB
gujaf-378	20	4	fundamentals	fundamental	NOUN
gujaf-378	20	5	like	like	ADP
gujaf-378	20	6	earnings	earning	NOUN
gujaf-378	20	7	and	and	CCONJ
gujaf-378	20	8	cash	cash	NOUN
gujaf-378	20	9	flows	flow	NOUN
gujaf-378	20	10	,	,	PUNCT
gujaf-378	20	11	while	while	SCONJ
gujaf-378	20	12	growth	growth	NOUN
gujaf-378	20	13	investors	investor	NOUN
gujaf-378	20	14	focus	focus	VERB
gujaf-378	20	15	on	on	ADP
gujaf-378	20	16	revenue	revenue	NOUN
gujaf-378	20	17	growth	growth	NOUN
gujaf-378	20	18	and	and	CCONJ
gujaf-378	20	19	future	future	ADJ
gujaf-378	20	20	potential	potential	NOUN
gujaf-378	20	21	.	.	PUNCT
gujaf-378	21	1	conservative	conservative	ADJ
gujaf-378	21	2	investors	investor	NOUN
gujaf-378	21	3	seek	seek	VERB
gujaf-378	21	4	stable	stable	ADJ
gujaf-378	21	5	earnings	earning	NOUN
gujaf-378	21	6	,	,	PUNCT
gujaf-378	21	7	whereas	whereas	SCONJ
gujaf-378	21	8	risk	risk	NOUN
gujaf-378	21	9	-	-	PUNCT
gujaf-378	21	10	tolerant	tolerant	ADJ
gujaf-378	21	11	individuals	individual	NOUN
gujaf-378	21	12	might	might	AUX
gujaf-378	21	13	favor	favor	VERB
gujaf-378	21	14	volatility	volatility	NOUN
gujaf-378	21	15	for	for	ADP
gujaf-378	21	16	higher	high	ADJ
gujaf-378	21	17	returns	return	NOUN
gujaf-378	21	18	(	(	PUNCT
gujaf-378	21	19	lerman	lerman	NOUN
gujaf-378	21	20	,	,	PUNCT
gujaf-378	21	21	2011	2011	NUM
gujaf-378	21	22	;	;	PUNCT
gujaf-378	21	23	obaidat	obaidat	NOUN
gujaf-378	21	24	,	,	PUNCT
gujaf-378	21	25	2016	2016	NUM
gujaf-378	21	26	)	)	PUNCT
gujaf-378	21	27	.	.	PUNCT
gujaf-378	22	1	this	this	DET
gujaf-378	22	2	diversity	diversity	NOUN
gujaf-378	22	3	attracts	attract	VERB
gujaf-378	22	4	researchers	researcher	NOUN
gujaf-378	22	5	,	,	PUNCT
gujaf-378	22	6	including	include	VERB
gujaf-378	22	7	the	the	DET
gujaf-378	22	8	authors	author	NOUN
gujaf-378	22	9	of	of	ADP
gujaf-378	22	10	this	this	DET
gujaf-378	22	11	paper	paper	NOUN
gujaf-378	22	12	,	,	PUNCT
gujaf-378	22	13	to	to	PART
gujaf-378	22	14	examine	examine	VERB
gujaf-378	22	15	the	the	DET
gujaf-378	22	16	equity	equity	NOUN
gujaf-378	22	17	investors	investor	NOUN
gujaf-378	22	18	’	’	PART
gujaf-378	22	19	behaviors	behavior	NOUN
gujaf-378	22	20	toward	toward	ADP
gujaf-378	22	21	accounting	accounting	NOUN
gujaf-378	22	22	information	information	NOUN
gujaf-378	22	23	,	,	PUNCT
gujaf-378	22	24	which	which	PRON
gujaf-378	22	25	is	be	AUX
gujaf-378	22	26	reflected	reflect	VERB
gujaf-378	22	27	in	in	ADP
gujaf-378	22	28	portfolio	portfolio	NOUN
gujaf-378	22	29	investments	investment	NOUN
gujaf-378	22	30	.	.	PUNCT
gujaf-378	23	1	the	the	DET
gujaf-378	23	2	influence	influence	NOUN
gujaf-378	23	3	accounting	account	VERB
gujaf-378	23	4	information	information	NOUN
gujaf-378	23	5	on	on	ADP
gujaf-378	23	6	market	market	NOUN
gujaf-378	23	7	share	share	NOUN
gujaf-378	23	8	price	price	NOUN
gujaf-378	23	9	has	have	AUX
gujaf-378	23	10	gained	gain	VERB
gujaf-378	23	11	considerable	considerable	ADJ
gujaf-378	23	12	interest	interest	NOUN
gujaf-378	23	13	among	among	ADP
gujaf-378	23	14	researchers	researcher	NOUN
gujaf-378	23	15	,	,	PUNCT
gujaf-378	23	16	following	follow	VERB
gujaf-378	23	17	ball	ball	NOUN
gujaf-378	23	18	and	and	CCONJ
gujaf-378	23	19	brown	brown	ADJ
gujaf-378	23	20	(	(	PUNCT
gujaf-378	23	21	1968	1968	NUM
gujaf-378	23	22	)	)	PUNCT
gujaf-378	23	23	findings	finding	NOUN
gujaf-378	23	24	that	that	PRON
gujaf-378	23	25	show	show	VERB
gujaf-378	23	26	accounting	accounting	NOUN
gujaf-378	23	27	information	information	NOUN
gujaf-378	23	28	influences	influence	VERB
gujaf-378	23	29	share	share	NOUN
gujaf-378	23	30	prices	price	NOUN
gujaf-378	23	31	(	(	PUNCT
gujaf-378	23	32	as	as	SCONJ
gujaf-378	23	33	cited	cite	VERB
gujaf-378	23	34	by	by	ADP
gujaf-378	23	35	lugbenga	lugbenga	PROPN
gujaf-378	23	36	and	and	CCONJ
gujaf-378	23	37	atanda	atanda	NOUN
gujaf-378	23	38	,	,	PUNCT
gujaf-378	23	39	2014	2014	NUM
gujaf-378	23	40	)	)	PUNCT
gujaf-378	23	41	.	.	PUNCT
gujaf-378	24	1	therefore	therefore	ADV
gujaf-378	24	2	,	,	PUNCT
gujaf-378	24	3	securities	security	NOUN
gujaf-378	24	4	exchanges	exchange	NOUN
gujaf-378	24	5	exhibit	exhibit	VERB
gujaf-378	24	6	substantial	substantial	ADJ
gujaf-378	24	7	responses	response	NOUN
gujaf-378	24	8	to	to	ADP
gujaf-378	24	9	accounting	account	VERB
gujaf-378	24	10	information	information	NOUN
gujaf-378	24	11	disclosures	disclosure	NOUN
gujaf-378	24	12	(	(	PUNCT
gujaf-378	24	13	eachempati	eachempati	NOUN
gujaf-378	24	14	et	et	PROPN
gujaf-378	24	15	al	al	PROPN
gujaf-378	24	16	.	.	PROPN
gujaf-378	24	17	,	,	PUNCT
gujaf-378	24	18	2021	2021	NUM
gujaf-378	24	19	)	)	PUNCT
gujaf-378	24	20	.	.	PUNCT
gujaf-378	25	1	therefore	therefore	ADV
gujaf-378	25	2	,	,	PUNCT
gujaf-378	25	3	its	its	PRON
gujaf-378	25	4	usefulness	usefulness	NOUN
gujaf-378	25	5	can	can	AUX
gujaf-378	25	6	be	be	AUX
gujaf-378	25	7	measured	measure	VERB
gujaf-378	25	8	based	base	VERB
gujaf-378	25	9	on	on	ADP
gujaf-378	25	10	its	its	PRON
gujaf-378	25	11	ability	ability	NOUN
gujaf-378	25	12	to	to	PART
gujaf-378	25	13	make	make	VERB
gujaf-378	25	14	changes	change	NOUN
gujaf-378	25	15	in	in	ADP
gujaf-378	25	16	stock	stock	NOUN
gujaf-378	25	17	prices	price	NOUN
gujaf-378	25	18	(	(	PUNCT
gujaf-378	25	19	imhanzenobe	imhanzenobe	ADJ
gujaf-378	25	20	,	,	PUNCT
gujaf-378	25	21	2022	2022	NUM
gujaf-378	25	22	;	;	PUNCT
gujaf-378	25	23	outa	outa	INTJ
gujaf-378	25	24	et	et	PROPN
gujaf-378	25	25	al	al	PROPN
gujaf-378	25	26	.	.	PROPN
gujaf-378	25	27	,	,	PUNCT
gujaf-378	25	28	2017	2017	NUM
gujaf-378	25	29	)	)	PUNCT
gujaf-378	25	30	.	.	PUNCT
gujaf-378	26	1	research	research	NOUN
gujaf-378	26	2	by	by	ADP
gujaf-378	26	3	dontoh	dontoh	PROPN
gujaf-378	26	4	et	et	PROPN
gujaf-378	26	5	al	al	PROPN
gujaf-378	26	6	.	.	PROPN
gujaf-378	27	1	(	(	PUNCT
gujaf-378	27	2	2004	2004	NUM
gujaf-378	27	3	)	)	PUNCT
gujaf-378	27	4	indicates	indicate	VERB
gujaf-378	27	5	that	that	SCONJ
gujaf-378	27	6	the	the	DET
gujaf-378	27	7	usefulness	usefulness	NOUN
gujaf-378	27	8	of	of	ADP
gujaf-378	27	9	accounting	accounting	NOUN
gujaf-378	27	10	information	information	NOUN
gujaf-378	27	11	,	,	PUNCT
gujaf-378	27	12	especially	especially	ADV
gujaf-378	27	13	earnings	earning	NOUN
gujaf-378	27	14	,	,	PUNCT
gujaf-378	27	15	has	have	AUX
gujaf-378	27	16	decreased	decrease	VERB
gujaf-378	27	17	,	,	PUNCT
gujaf-378	27	18	which	which	PRON
gujaf-378	27	19	is	be	AUX
gujaf-378	27	20	reflected	reflect	VERB
gujaf-378	27	21	in	in	ADP
gujaf-378	27	22	the	the	DET
gujaf-378	27	23	increase	increase	NOUN
gujaf-378	27	24	of	of	ADP
gujaf-378	27	25	non	non	ADJ
gujaf-378	27	26	-	-	ADJ
gujaf-378	27	27	information	information	NOUN
gujaf-378	27	28	-	-	PUNCT
gujaf-378	27	29	based	base	VERB
gujaf-378	27	30	(	(	PUNCT
gujaf-378	27	31	nib	nib	NOUN
gujaf-378	27	32	)	)	PUNCT
gujaf-378	27	33	trading	trading	NOUN
gujaf-378	27	34	.	.	PUNCT
gujaf-378	28	1	however	however	ADV
gujaf-378	28	2	,	,	PUNCT
gujaf-378	28	3	other	other	ADJ
gujaf-378	28	4	studies	study	NOUN
gujaf-378	28	5	show	show	VERB
gujaf-378	28	6	that	that	SCONJ
gujaf-378	28	7	accounting	accounting	NOUN
gujaf-378	28	8	information	information	NOUN
gujaf-378	28	9	has	have	AUX
gujaf-378	28	10	maintained	maintain	VERB
gujaf-378	28	11	its	its	PRON
gujaf-378	28	12	relevance	relevance	NOUN
gujaf-378	28	13	across	across	ADP
gujaf-378	28	14	periods	period	NOUN
gujaf-378	28	15	despite	despite	SCONJ
gujaf-378	28	16	the	the	DET
gujaf-378	28	17	change	change	NOUN
gujaf-378	28	18	in	in	ADP
gujaf-378	28	19	economic	economic	ADJ
gujaf-378	28	20	system	system	NOUN
gujaf-378	28	21	when	when	SCONJ
gujaf-378	28	22	it	it	PRON
gujaf-378	28	23	was	be	AUX
gujaf-378	28	24	first	first	ADV
gujaf-378	28	25	developed	develop	VERB
gujaf-378	28	26	(	(	PUNCT
gujaf-378	28	27	industrial	industrial	ADJ
gujaf-378	28	28	economy	economy	NOUN
gujaf-378	28	29	)	)	PUNCT
gujaf-378	28	30	till	till	SCONJ
gujaf-378	28	31	present	present	ADJ
gujaf-378	28	32	(	(	PUNCT
gujaf-378	28	33	high	high	ADJ
gujaf-378	28	34	-	-	PUNCT
gujaf-378	28	35	tech	tech	NOUN
gujaf-378	28	36	driven	drive	VERB
gujaf-378	28	37	service	service	NOUN
gujaf-378	28	38	economy	economy	NOUN
gujaf-378	28	39	)	)	PUNCT
gujaf-378	28	40	(	(	PUNCT
gujaf-378	28	41	barth	barth	NOUN
gujaf-378	28	42	et	et	PROPN
gujaf-378	28	43	al	al	PROPN
gujaf-378	28	44	.	.	PROPN
gujaf-378	28	45	,	,	PUNCT
gujaf-378	28	46	2023	2023	NUM
gujaf-378	28	47	;	;	PUNCT
gujaf-378	28	48	perera	perera	PROPN
gujaf-378	28	49	and	and	CCONJ
gujaf-378	28	50	thrikawala	thrikawala	PROPN
gujaf-378	28	51	,	,	PUNCT
gujaf-378	28	52	2010	2010	NUM
gujaf-378	28	53	)	)	PUNCT
gujaf-378	28	54	.	.	PUNCT
gujaf-378	29	1	in	in	ADP
gujaf-378	29	2	connection	connection	NOUN
gujaf-378	29	3	this	this	DET
gujaf-378	29	4	debate	debate	NOUN
gujaf-378	29	5	,	,	PUNCT
gujaf-378	29	6	this	this	DET
gujaf-378	29	7	study	study	NOUN
gujaf-378	29	8	aims	aim	VERB
gujaf-378	29	9	to	to	PART
gujaf-378	29	10	provide	provide	VERB
gujaf-378	29	11	empirical	empirical	ADJ
gujaf-378	29	12	evidence	evidence	NOUN
gujaf-378	29	13	to	to	ADP
gujaf-378	29	14	one	one	NUM
gujaf-378	29	15	side	side	NOUN
gujaf-378	29	16	of	of	ADP
gujaf-378	29	17	the	the	DET
gujaf-378	29	18	arguement	arguement	NOUN
gujaf-378	29	19	,	,	PUNCT
gujaf-378	29	20	by	by	ADP
gujaf-378	29	21	concentrating	concentrate	VERB
gujaf-378	29	22	on	on	ADP
gujaf-378	29	23	the	the	DET
gujaf-378	29	24	earnings	earning	NOUN
gujaf-378	29	25	per	per	ADP
gujaf-378	29	26	share	share	NOUN
gujaf-378	29	27	(	(	PUNCT
gujaf-378	29	28	eps	eps	PROPN
gujaf-378	29	29	)	)	PUNCT
gujaf-378	29	30	,	,	PUNCT
gujaf-378	29	31	dividends	dividend	NOUN
gujaf-378	29	32	per	per	ADP
gujaf-378	29	33	share	share	NOUN
gujaf-378	29	34	,	,	PUNCT
gujaf-378	29	35	operating	operate	VERB
gujaf-378	29	36	cash	cash	NOUN
gujaf-378	29	37	flows	flow	NOUN
gujaf-378	29	38	,	,	PUNCT
gujaf-378	29	39	and	and	CCONJ
gujaf-378	29	40	total	total	ADJ
gujaf-378	29	41	assets	asset	NOUN
gujaf-378	29	42	impacts	impact	NOUN
gujaf-378	29	43	on	on	ADP
gujaf-378	29	44	share	share	NOUN
gujaf-378	29	45	prices	price	NOUN
gujaf-378	29	46	from	from	ADP
gujaf-378	29	47	the	the	DET
gujaf-378	29	48	perspective	perspective	NOUN
gujaf-378	29	49	of	of	ADP
gujaf-378	29	50	emerging	emerge	VERB
gujaf-378	29	51	economies	economy	NOUN
gujaf-378	29	52	where	where	SCONJ
gujaf-378	29	53	there	there	PRON
gujaf-378	29	54	is	be	VERB
gujaf-378	29	55	a	a	DET
gujaf-378	29	56	higher	high	ADJ
gujaf-378	29	57	concern	concern	NOUN
gujaf-378	29	58	on	on	ADP
gujaf-378	29	59	the	the	DET
gujaf-378	29	60	usefulness	usefulness	NOUN
gujaf-378	29	61	of	of	ADP
gujaf-378	29	62	accounting	accounting	NOUN
gujaf-378	29	63	figures	figure	NOUN
gujaf-378	29	64	for	for	ADP
gujaf-378	29	65	investment	investment	NOUN
gujaf-378	29	66	decisions	decision	NOUN
gujaf-378	29	67	due	due	ADP
gujaf-378	29	68	to	to	ADP
gujaf-378	29	69	the	the	DET
gujaf-378	29	70	believe	believe	NOUN
gujaf-378	29	71	of	of	ADP
gujaf-378	29	72	low	low	ADJ
gujaf-378	29	73	transparency	transparency	NOUN
gujaf-378	29	74	in	in	ADP
gujaf-378	29	75	these	these	DET
gujaf-378	29	76	markets	market	NOUN
gujaf-378	29	77	(	(	PUNCT
gujaf-378	29	78	salman	salman	PROPN
gujaf-378	29	79	et	et	PROPN
gujaf-378	29	80	al	al	PROPN
gujaf-378	29	81	.	.	PROPN
gujaf-378	29	82	,	,	PUNCT
gujaf-378	29	83	2024	2024	NUM
gujaf-378	29	84	)	)	PUNCT
gujaf-378	29	85	.	.	PUNCT
gujaf-378	30	1	this	this	DET
gujaf-378	30	2	study	study	NOUN
gujaf-378	30	3	utilizes	utilize	VERB
gujaf-378	30	4	companies	company	NOUN
gujaf-378	30	5	quoted	quote	VERB
gujaf-378	30	6	on	on	ADP
gujaf-378	30	7	the	the	DET
gujaf-378	30	8	nairobi	nairobi	PROPN
gujaf-378	30	9	securities	securities	PROPN
gujaf-378	30	10	exchange	exchange	PROPN
gujaf-378	30	11	,	,	PUNCT
gujaf-378	30	12	the	the	DET
gujaf-378	30	13	largest	large	ADJ
gujaf-378	30	14	stock	stock	NOUN
gujaf-378	30	15	market	market	NOUN
gujaf-378	30	16	in	in	ADP
gujaf-378	30	17	east	east	PROPN
gujaf-378	30	18	africa	africa	PROPN
gujaf-378	30	19	,	,	PUNCT
gujaf-378	30	20	with	with	ADP
gujaf-378	30	21	a	a	DET
gujaf-378	30	22	market	market	NOUN
gujaf-378	30	23	capitalization	capitalization	NOUN
gujaf-378	30	24	of	of	ADP
gujaf-378	30	25	$	$	SYM
gujaf-378	30	26	13.6	13.6	NUM
gujaf-378	30	27	billion	billion	NUM
gujaf-378	30	28	and	and	CCONJ
gujaf-378	30	29	65	65	NUM
gujaf-378	30	30	listed	list	VERB
gujaf-378	30	31	companies	company	NOUN
gujaf-378	30	32	as	as	ADP
gujaf-378	30	33	of	of	ADP
gujaf-378	30	34	31st	31st	NOUN
gujaf-378	30	35	may	may	AUX
gujaf-378	30	36	,	,	PUNCT
gujaf-378	30	37	2024	2024	NUM
gujaf-378	30	38	(	(	PUNCT
gujaf-378	30	39	dabafinance.com	dabafinance.com	X
gujaf-378	30	40	,	,	PUNCT
gujaf-378	30	41	2024	2024	NUM
gujaf-378	30	42	)	)	PUNCT
gujaf-378	30	43	.	.	PUNCT
gujaf-378	31	1	it	it	PRON
gujaf-378	31	2	was	be	AUX
gujaf-378	31	3	established	establish	VERB
gujaf-378	31	4	in	in	ADP
gujaf-378	31	5	1954	1954	NUM
gujaf-378	31	6	and	and	CCONJ
gujaf-378	31	7	it	it	PRON
gujaf-378	31	8	is	be	AUX
gujaf-378	31	9	a	a	DET
gujaf-378	31	10	member	member	NOUN
gujaf-378	31	11	of	of	ADP
gujaf-378	31	12	the	the	DET
gujaf-378	31	13	world	world	PROPN
gujaf-378	31	14	federation	federation	PROPN
gujaf-378	31	15	of	of	ADP
gujaf-378	31	16	exchanges	exchange	NOUN
gujaf-378	31	17	,	,	PUNCT
gujaf-378	31	18	the	the	DET
gujaf-378	31	19	african	african	ADJ
gujaf-378	31	20	securities	security	NOUN
gujaf-378	31	21	exchanges	exchange	NOUN
gujaf-378	31	22	association	association	NOUN
gujaf-378	31	23	(	(	PUNCT
gujaf-378	31	24	asea	asea	NOUN
gujaf-378	31	25	)	)	PUNCT
gujaf-378	31	26	and	and	CCONJ
gujaf-378	31	27	the	the	DET
gujaf-378	31	28	east	east	ADJ
gujaf-378	31	29	african	african	ADJ
gujaf-378	31	30	securities	security	NOUN
gujaf-378	31	31	exchanges	exchange	NOUN
gujaf-378	31	32	association	association	NOUN
gujaf-378	31	33	(	(	PUNCT
gujaf-378	31	34	easea	easea	ADJ
gujaf-378	31	35	)	)	PUNCT
gujaf-378	31	36	,	,	PUNCT
gujaf-378	31	37	the	the	DET
gujaf-378	31	38	association	association	NOUN
gujaf-378	31	39	of	of	ADP
gujaf-378	31	40	futures	future	NOUN
gujaf-378	31	41	markets	market	NOUN
gujaf-378	31	42	,	,	PUNCT
gujaf-378	31	43	and	and	CCONJ
gujaf-378	31	44	the	the	DET
gujaf-378	31	45	united	united	PROPN
gujaf-378	31	46	nations	nations	PROPN
gujaf-378	31	47	’	'	PUNCT
gujaf-378	31	48	sustainable	sustainable	ADJ
gujaf-378	31	49	stock	stock	NOUN
gujaf-378	31	50	exchanges	exchange	NOUN
gujaf-378	31	51	(	(	PUNCT
gujaf-378	31	52	sse	sse	NOUN
gujaf-378	31	53	)	)	PUNCT
gujaf-378	31	54	initiative	initiative	NOUN
gujaf-378	31	55	(	(	PUNCT
gujaf-378	31	56	nse.co.ke	nse.co.ke	PROPN
gujaf-378	31	57	,	,	PUNCT
gujaf-378	31	58	n.d	n.d	PROPN
gujaf-378	31	59	.	.	PROPN
gujaf-378	31	60	)	)	PUNCT
gujaf-378	31	61	.	.	PUNCT
gujaf-378	32	1	moreover	moreover	ADV
gujaf-378	32	2	,	,	PUNCT
gujaf-378	32	3	the	the	DET
gujaf-378	32	4	country	country	NOUN
gujaf-378	32	5	was	be	AUX
gujaf-378	32	6	first	first	ADV
gujaf-378	32	7	in	in	ADP
gujaf-378	32	8	the	the	DET
gujaf-378	32	9	region	region	NOUN
gujaf-378	32	10	in	in	ADP
gujaf-378	32	11	adopting	adopt	VERB
gujaf-378	32	12	the	the	DET
gujaf-378	32	13	international	international	ADJ
gujaf-378	32	14	financial	financial	ADJ
gujaf-378	32	15	reporting	reporting	NOUN
gujaf-378	32	16	standards	standard	NOUN
gujaf-378	32	17	(	(	PUNCT
gujaf-378	32	18	ifrs	ifrs	PROPN
gujaf-378	32	19	)	)	PUNCT
gujaf-378	32	20	,	,	PUNCT
gujaf-378	32	21	with	with	ADP
gujaf-378	32	22	the	the	DET
gujaf-378	32	23	capital	capital	NOUN
gujaf-378	32	24	markets	market	NOUN
gujaf-378	32	25	authority	authority	NOUN
gujaf-378	32	26	of	of	ADP
gujaf-378	32	27	kenya	kenya	NOUN
gujaf-378	32	28	requiring	require	VERB
gujaf-378	32	29	it	it	PRON
gujaf-378	32	30	of	of	ADP
gujaf-378	32	31	all	all	DET
gujaf-378	32	32	listed	list	VERB
gujaf-378	32	33	companies	company	NOUN
gujaf-378	32	34	in	in	ADP
gujaf-378	32	35	2001	2001	NUM
gujaf-378	32	36	(	(	PUNCT
gujaf-378	32	37	atsunyo	atsunyo	PROPN
gujaf-378	32	38	et	et	PROPN
gujaf-378	32	39	al	al	PROPN
gujaf-378	32	40	.	.	PROPN
gujaf-378	32	41	,	,	PUNCT
gujaf-378	32	42	2017	2017	NUM
gujaf-378	32	43	)	)	PUNCT
gujaf-378	32	44	.	.	PUNCT
gujaf-378	33	1	all	all	DET
gujaf-378	33	2	these	these	DET
gujaf-378	33	3	stated	state	VERB
gujaf-378	33	4	characteristics	characteristic	NOUN
gujaf-378	33	5	of	of	ADP
gujaf-378	33	6	the	the	DET
gujaf-378	33	7	market	market	NOUN
gujaf-378	33	8	make	make	VERB
gujaf-378	33	9	it	it	PRON
gujaf-378	33	10	suitable	suitable	ADJ
gujaf-378	33	11	for	for	ADP
gujaf-378	33	12	this	this	DET
gujaf-378	33	13	research	research	NOUN
gujaf-378	33	14	.	.	PUNCT
gujaf-378	34	1	to	to	PART
gujaf-378	34	2	assist	assist	VERB
gujaf-378	34	3	in	in	ADP
gujaf-378	34	4	the	the	DET
gujaf-378	34	5	understanding	understanding	NOUN
gujaf-378	34	6	of	of	ADP
gujaf-378	34	7	the	the	DET
gujaf-378	34	8	market	market	NOUN
gujaf-378	34	9	performance	performance	NOUN
gujaf-378	34	10	from	from	ADP
gujaf-378	34	11	2017	2017	NUM
gujaf-378	34	12	to	to	ADP
gujaf-378	34	13	2024	2024	NUM
gujaf-378	34	14	,	,	PUNCT
gujaf-378	34	15	the	the	DET
gujaf-378	34	16	exchanges	exchange	NOUN
gujaf-378	34	17	’	'	PUNCT
gujaf-378	34	18	all	all	DET
gujaf-378	34	19	-	-	PUNCT
gujaf-378	34	20	share	share	NOUN
gujaf-378	34	21	index	index	NOUN
gujaf-378	34	22	is	be	AUX
gujaf-378	34	23	presented	present	VERB
gujaf-378	34	24	in	in	ADP
gujaf-378	34	25	figure	figure	NOUN
gujaf-378	34	26	1	1	NUM
gujaf-378	34	27	.	.	PUNCT
gujaf-378	34	28	gusau	gusau	PROPN
gujaf-378	34	29	journal	journal	PROPN
gujaf-378	34	30	of	of	ADP
gujaf-378	34	31	accounting	accounting	NOUN
gujaf-378	34	32	and	and	CCONJ
gujaf-378	34	33	finance	finance	NOUN
gujaf-378	34	34	,	,	PUNCT
gujaf-378	34	35	vol.6	vol.6	PROPN
gujaf-378	34	36	,	,	PUNCT
gujaf-378	34	37	issue	issue	NOUN
gujaf-378	34	38	1	1	NUM
gujaf-378	34	39	,	,	PUNCT
gujaf-378	34	40	april	april	PROPN
gujaf-378	34	41	,	,	PUNCT
gujaf-378	34	42	2025	2025	NUM
gujaf-378	34	43	191	191	NUM
gujaf-378	34	44	source	source	NOUN
gujaf-378	34	45	:	:	PUNCT
gujaf-378	34	46	african	african	ADJ
gujaf-378	34	47	financials	financial	NOUN
gujaf-378	34	48	figure	figure	VERB
gujaf-378	34	49	1	1	NUM
gujaf-378	34	50	.	.	PUNCT
gujaf-378	35	1	nairobi	nairobi	PROPN
gujaf-378	35	2	securities	securities	PROPN
gujaf-378	35	3	exchange	exchange	PROPN
gujaf-378	35	4	all	all	DET
gujaf-378	35	5	share	share	NOUN
gujaf-378	35	6	index	index	NOUN
gujaf-378	35	7	(	(	PUNCT
gujaf-378	35	8	nse	nse	NOUN
gujaf-378	35	9	-	-	PUNCT
gujaf-378	35	10	asi	asi	NOUN
gujaf-378	35	11	)	)	PUNCT
gujaf-378	35	12	.	.	PUNCT
gujaf-378	36	1	the	the	DET
gujaf-378	36	2	nse	nse	NOUN
gujaf-378	36	3	-	-	PUNCT
gujaf-378	36	4	asi	asi	NOUN
gujaf-378	36	5	is	be	AUX
gujaf-378	36	6	a	a	DET
gujaf-378	36	7	weighted	weighted	ADJ
gujaf-378	36	8	index	index	NOUN
gujaf-378	36	9	of	of	ADP
gujaf-378	36	10	free	free	ADJ
gujaf-378	36	11	-	-	PUNCT
gujaf-378	36	12	float	float	NOUN
gujaf-378	36	13	market	market	NOUN
gujaf-378	36	14	capitalization	capitalization	NOUN
gujaf-378	36	15	that	that	PRON
gujaf-378	36	16	is	be	AUX
gujaf-378	36	17	used	use	VERB
gujaf-378	36	18	to	to	PART
gujaf-378	36	19	evaluate	evaluate	VERB
gujaf-378	36	20	the	the	DET
gujaf-378	36	21	performance	performance	NOUN
gujaf-378	36	22	of	of	ADP
gujaf-378	36	23	the	the	DET
gujaf-378	36	24	listed	list	VERB
gujaf-378	36	25	firms	firm	NOUN
gujaf-378	36	26	.	.	PUNCT
gujaf-378	37	1	investors	investor	NOUN
gujaf-378	37	2	,	,	PUNCT
gujaf-378	37	3	market	market	NOUN
gujaf-378	37	4	participants	participant	NOUN
gujaf-378	37	5	,	,	PUNCT
gujaf-378	37	6	and	and	CCONJ
gujaf-378	37	7	analysts	analyst	NOUN
gujaf-378	37	8	use	use	VERB
gujaf-378	37	9	the	the	DET
gujaf-378	37	10	nse	nse	NOUN
gujaf-378	37	11	-	-	PUNCT
gujaf-378	37	12	asi	asi	NOUN
gujaf-378	37	13	as	as	ADP
gujaf-378	37	14	a	a	DET
gujaf-378	37	15	gauge	gauge	NOUN
gujaf-378	37	16	of	of	ADP
gujaf-378	37	17	overall	overall	ADJ
gujaf-378	37	18	nse	nse	NOUN
gujaf-378	37	19	performance	performance	NOUN
gujaf-378	37	20	and	and	CCONJ
gujaf-378	37	21	as	as	ADP
gujaf-378	37	22	the	the	DET
gujaf-378	37	23	benchmark	benchmark	ADJ
gujaf-378	37	24	index	index	NOUN
gujaf-378	37	25	of	of	ADP
gujaf-378	37	26	the	the	DET
gujaf-378	37	27	kenyan	kenyan	ADJ
gujaf-378	37	28	stock	stock	NOUN
gujaf-378	37	29	market	market	NOUN
gujaf-378	37	30	.	.	PUNCT
gujaf-378	38	1	it	it	PRON
gujaf-378	38	2	is	be	AUX
gujaf-378	38	3	a	a	DET
gujaf-378	38	4	real	real	ADJ
gujaf-378	38	5	-	-	PUNCT
gujaf-378	38	6	time	time	NOUN
gujaf-378	38	7	index	index	NOUN
gujaf-378	38	8	and	and	CCONJ
gujaf-378	38	9	is	be	AUX
gujaf-378	38	10	calculated	calculate	VERB
gujaf-378	38	11	by	by	ADP
gujaf-378	38	12	the	the	DET
gujaf-378	38	13	market	market	NOUN
gujaf-378	38	14	capitalization	capitalization	NOUN
gujaf-378	38	15	of	of	ADP
gujaf-378	38	16	publicly	publicly	ADV
gujaf-378	38	17	traded	trade	VERB
gujaf-378	38	18	businesses	business	NOUN
gujaf-378	38	19	.	.	PUNCT
gujaf-378	39	1	the	the	DET
gujaf-378	39	2	study	study	NOUN
gujaf-378	39	3	has	have	VERB
gujaf-378	39	4	several	several	ADJ
gujaf-378	39	5	potential	potential	ADJ
gujaf-378	39	6	contributions	contribution	NOUN
gujaf-378	39	7	.	.	PUNCT
gujaf-378	40	1	first	first	ADV
gujaf-378	40	2	,	,	PUNCT
gujaf-378	40	3	this	this	DET
gujaf-378	40	4	study	study	NOUN
gujaf-378	40	5	can	can	AUX
gujaf-378	40	6	help	help	VERB
gujaf-378	40	7	companies	company	NOUN
gujaf-378	40	8	formulate	formulate	VERB
gujaf-378	40	9	financial	financial	ADJ
gujaf-378	40	10	strategies	strategy	NOUN
gujaf-378	40	11	that	that	PRON
gujaf-378	40	12	align	align	VERB
gujaf-378	40	13	with	with	ADP
gujaf-378	40	14	shareholder	shareholder	NOUN
gujaf-378	40	15	interests	interest	NOUN
gujaf-378	40	16	by	by	ADP
gujaf-378	40	17	revealing	reveal	VERB
gujaf-378	40	18	how	how	SCONJ
gujaf-378	40	19	key	key	ADJ
gujaf-378	40	20	accounting	accounting	NOUN
gujaf-378	40	21	information	information	NOUN
gujaf-378	40	22	influences	influence	VERB
gujaf-378	40	23	investor	investor	NOUN
gujaf-378	40	24	perceptions	perception	NOUN
gujaf-378	40	25	.	.	PUNCT
gujaf-378	41	1	second	second	ADJ
gujaf-378	41	2	,	,	PUNCT
gujaf-378	41	3	it	it	PRON
gujaf-378	41	4	equips	equip	VERB
gujaf-378	41	5	investors	investor	NOUN
gujaf-378	41	6	with	with	ADP
gujaf-378	41	7	essential	essential	ADJ
gujaf-378	41	8	insights	insight	NOUN
gujaf-378	41	9	into	into	ADP
gujaf-378	41	10	the	the	DET
gujaf-378	41	11	metrics	metric	NOUN
gujaf-378	41	12	that	that	PRON
gujaf-378	41	13	drive	drive	VERB
gujaf-378	41	14	price	price	NOUN
gujaf-378	41	15	movements	movement	NOUN
gujaf-378	41	16	,	,	PUNCT
gujaf-378	41	17	thereby	thereby	ADV
gujaf-378	41	18	enhancing	enhance	VERB
gujaf-378	41	19	their	their	PRON
gujaf-378	41	20	ability	ability	NOUN
gujaf-378	41	21	to	to	PART
gujaf-378	41	22	assess	assess	VERB
gujaf-378	41	23	market	market	NOUN
gujaf-378	41	24	timing	timing	NOUN
gujaf-378	41	25	and	and	CCONJ
gujaf-378	41	26	risks	risk	NOUN
gujaf-378	41	27	,	,	PUNCT
gujaf-378	41	28	which	which	PRON
gujaf-378	41	29	is	be	AUX
gujaf-378	41	30	essential	essential	ADJ
gujaf-378	41	31	for	for	ADP
gujaf-378	41	32	portfolio	portfolio	NOUN
gujaf-378	41	33	management	management	NOUN
gujaf-378	41	34	.	.	PUNCT
gujaf-378	42	1	third	third	ADV
gujaf-378	42	2	,	,	PUNCT
gujaf-378	42	3	this	this	DET
gujaf-378	42	4	research	research	NOUN
gujaf-378	42	5	provides	provide	VERB
gujaf-378	42	6	evidence	evidence	NOUN
gujaf-378	42	7	which	which	PRON
gujaf-378	42	8	may	may	AUX
gujaf-378	42	9	help	help	VERB
gujaf-378	42	10	in	in	ADP
gujaf-378	42	11	addressing	address	VERB
gujaf-378	42	12	inconsistencies	inconsistency	NOUN
gujaf-378	42	13	regarding	regard	VERB
gujaf-378	42	14	the	the	DET
gujaf-378	42	15	persistence	persistence	NOUN
gujaf-378	42	16	or	or	CCONJ
gujaf-378	42	17	decline	decline	NOUN
gujaf-378	42	18	in	in	ADP
gujaf-378	42	19	usefulness	usefulness	NOUN
gujaf-378	42	20	of	of	ADP
gujaf-378	42	21	accounting	accounting	NOUN
gujaf-378	42	22	numbers	number	NOUN
gujaf-378	42	23	overtime	overtime	NOUN
gujaf-378	42	24	.	.	PUNCT
gujaf-378	43	1	additionally	additionally	ADV
gujaf-378	43	2	,	,	PUNCT
gujaf-378	43	3	the	the	DET
gujaf-378	43	4	findings	finding	NOUN
gujaf-378	43	5	may	may	AUX
gujaf-378	43	6	pave	pave	VERB
gujaf-378	43	7	the	the	DET
gujaf-378	43	8	way	way	NOUN
gujaf-378	43	9	for	for	ADP
gujaf-378	43	10	future	future	ADJ
gujaf-378	43	11	research	research	NOUN
gujaf-378	43	12	in	in	ADP
gujaf-378	43	13	the	the	DET
gujaf-378	43	14	area	area	NOUN
gujaf-378	43	15	.	.	PUNCT
gujaf-378	44	1	the	the	DET
gujaf-378	44	2	remaining	remain	VERB
gujaf-378	44	3	part	part	NOUN
gujaf-378	44	4	of	of	ADP
gujaf-378	44	5	this	this	DET
gujaf-378	44	6	research	research	NOUN
gujaf-378	44	7	article	article	NOUN
gujaf-378	44	8	is	be	AUX
gujaf-378	44	9	structured	structure	VERB
gujaf-378	44	10	as	as	SCONJ
gujaf-378	44	11	follows	follow	VERB
gujaf-378	44	12	:	:	PUNCT
gujaf-378	44	13	section	section	NOUN
gujaf-378	44	14	2	2	NUM
gujaf-378	44	15	contains	contain	VERB
gujaf-378	44	16	review	review	NOUN
gujaf-378	44	17	of	of	ADP
gujaf-378	44	18	relevant	relevant	ADJ
gujaf-378	44	19	literature	literature	NOUN
gujaf-378	44	20	and	and	CCONJ
gujaf-378	44	21	research	research	NOUN
gujaf-378	44	22	hypotheses	hypothesis	NOUN
gujaf-378	44	23	.	.	PUNCT
gujaf-378	45	1	section	section	NOUN
gujaf-378	45	2	3	3	NUM
gujaf-378	45	3	shows	show	VERB
gujaf-378	45	4	research	research	NOUN
gujaf-378	45	5	methodology	methodology	NOUN
gujaf-378	45	6	,	,	PUNCT
gujaf-378	45	7	incorporating	incorporate	VERB
gujaf-378	45	8	a	a	DET
gujaf-378	45	9	description	description	NOUN
gujaf-378	45	10	of	of	ADP
gujaf-378	45	11	data	datum	NOUN
gujaf-378	45	12	source	source	NOUN
gujaf-378	45	13	and	and	CCONJ
gujaf-378	45	14	sample	sample	NOUN
gujaf-378	45	15	selection	selection	NOUN
gujaf-378	45	16	techniques	technique	NOUN
gujaf-378	45	17	,	,	PUNCT
gujaf-378	45	18	variables	variable	NOUN
gujaf-378	45	19	,	,	PUNCT
gujaf-378	45	20	and	and	CCONJ
gujaf-378	45	21	model	model	NOUN
gujaf-378	45	22	specifications	specification	NOUN
gujaf-378	45	23	.	.	PUNCT
gujaf-378	46	1	section	section	NOUN
gujaf-378	46	2	4	4	NUM
gujaf-378	46	3	presents	present	VERB
gujaf-378	46	4	research	research	NOUN
gujaf-378	46	5	findings	finding	NOUN
gujaf-378	46	6	and	and	CCONJ
gujaf-378	46	7	discussions	discussion	NOUN
gujaf-378	46	8	.	.	PUNCT
gujaf-378	47	1	section	section	NOUN
gujaf-378	47	2	5	5	NUM
gujaf-378	47	3	shows	show	VERB
gujaf-378	47	4	conclusions	conclusion	NOUN
gujaf-378	47	5	drawn	draw	VERB
gujaf-378	47	6	from	from	ADP
gujaf-378	47	7	the	the	DET
gujaf-378	47	8	research	research	NOUN
gujaf-378	47	9	findings	finding	NOUN
gujaf-378	47	10	.	.	PUNCT
gujaf-378	48	1	2.0	2.0	NUM
gujaf-378	48	2	literature	literature	NOUN
gujaf-378	48	3	review	review	NOUN
gujaf-378	48	4	dividend	dividend	NOUN
gujaf-378	48	5	signaling	signal	VERB
gujaf-378	48	6	theory	theory	NOUN
gujaf-378	48	7	this	this	DET
gujaf-378	48	8	theory	theory	NOUN
gujaf-378	48	9	was	be	AUX
gujaf-378	48	10	introduced	introduce	VERB
gujaf-378	48	11	by	by	ADP
gujaf-378	48	12	bhattacharya	bhattacharya	NOUN
gujaf-378	48	13	(	(	PUNCT
gujaf-378	48	14	1979	1979	NUM
gujaf-378	48	15	)	)	PUNCT
gujaf-378	48	16	and	and	CCONJ
gujaf-378	48	17	states	state	VERB
gujaf-378	48	18	that	that	SCONJ
gujaf-378	48	19	dividends	dividend	NOUN
gujaf-378	48	20	are	be	AUX
gujaf-378	48	21	informative	informative	ADJ
gujaf-378	48	22	about	about	ADP
gujaf-378	48	23	future	future	ADJ
gujaf-378	48	24	earnings	earning	NOUN
gujaf-378	48	25	.	.	PUNCT
gujaf-378	49	1	subsequently	subsequently	ADV
gujaf-378	49	2	,	,	PUNCT
gujaf-378	49	3	miller	miller	PROPN
gujaf-378	49	4	&	&	CCONJ
gujaf-378	49	5	rock	rock	PROPN
gujaf-378	49	6	(	(	PUNCT
gujaf-378	49	7	1985	1985	NUM
gujaf-378	49	8	)	)	PUNCT
gujaf-378	49	9	further	far	ADV
gujaf-378	49	10	developed	develop	VERB
gujaf-378	49	11	the	the	DET
gujaf-378	49	12	notion	notion	NOUN
gujaf-378	49	13	in	in	ADP
gujaf-378	49	14	"	"	PUNCT
gujaf-378	49	15	dividend	dividend	NOUN
gujaf-378	49	16	policy	policy	NOUN
gujaf-378	49	17	under	under	ADP
gujaf-378	49	18	asymmetric	asymmetric	ADJ
gujaf-378	49	19	information	information	NOUN
gujaf-378	49	20	"	"	PUNCT
gujaf-378	49	21	,	,	PUNCT
gujaf-378	49	22	in	in	ADP
gujaf-378	49	23	which	which	PRON
gujaf-378	49	24	dividend	dividend	NOUN
gujaf-378	49	25	changes	change	NOUN
gujaf-378	49	26	signal	signal	VERB
gujaf-378	49	27	management	management	NOUN
gujaf-378	49	28	's	's	PART
gujaf-378	49	29	profit	profit	NOUN
gujaf-378	49	30	expectations	expectation	NOUN
gujaf-378	49	31	.	.	PUNCT
gujaf-378	50	1	bird	bird	NOUN
gujaf-378	50	2	-	-	PUNCT
gujaf-378	50	3	in	in	ADP
gujaf-378	50	4	-	-	PUNCT
gujaf-378	50	5	hand	hand	NOUN
gujaf-378	50	6	theory	theory	NOUN
gujaf-378	50	7	this	this	DET
gujaf-378	50	8	theory	theory	NOUN
gujaf-378	50	9	was	be	AUX
gujaf-378	50	10	first	first	ADV
gujaf-378	50	11	proposed	propose	VERB
gujaf-378	50	12	by	by	ADP
gujaf-378	50	13	gordon	gordon	PROPN
gujaf-378	50	14	(	(	PUNCT
gujaf-378	50	15	1959	1959	NUM
gujaf-378	50	16	)	)	PUNCT
gujaf-378	50	17	and	and	CCONJ
gujaf-378	50	18	later	later	ADV
gujaf-378	50	19	developed	develop	VERB
gujaf-378	50	20	by	by	ADP
gujaf-378	50	21	lintner	lintner	NOUN
gujaf-378	50	22	(	(	PUNCT
gujaf-378	50	23	1962	1962	NUM
gujaf-378	50	24	)	)	PUNCT
gujaf-378	50	25	.	.	PUNCT
gujaf-378	51	1	it	it	PRON
gujaf-378	51	2	challenges	challenge	VERB
gujaf-378	51	3	the	the	DET
gujaf-378	51	4	dividend	dividend	NOUN
gujaf-378	51	5	irrelevance	irrelevance	NOUN
gujaf-378	51	6	theory	theory	NOUN
gujaf-378	51	7	of	of	ADP
gujaf-378	51	8	modigliani	modigliani	PROPN
gujaf-378	51	9	-	-	PUNCT
gujaf-378	51	10	miller	miller	NOUN
gujaf-378	51	11	by	by	ADP
gujaf-378	51	12	arguing	argue	VERB
gujaf-378	51	13	that	that	SCONJ
gujaf-378	51	14	an	an	DET
gujaf-378	51	15	investor	investor	NOUN
gujaf-378	51	16	gusau	gusau	PROPN
gujaf-378	51	17	journal	journal	NOUN
gujaf-378	51	18	of	of	ADP
gujaf-378	51	19	accounting	accounting	NOUN
gujaf-378	51	20	and	and	CCONJ
gujaf-378	51	21	finance	finance	NOUN
gujaf-378	51	22	,	,	PUNCT
gujaf-378	51	23	vol.6	vol.6	PROPN
gujaf-378	51	24	,	,	PUNCT
gujaf-378	51	25	issue	issue	NOUN
gujaf-378	51	26	1	1	NUM
gujaf-378	51	27	,	,	PUNCT
gujaf-378	51	28	april	april	PROPN
gujaf-378	51	29	,	,	PUNCT
gujaf-378	51	30	2025	2025	NUM
gujaf-378	51	31	192	192	NUM
gujaf-378	51	32	would	would	AUX
gujaf-378	51	33	prefer	prefer	VERB
gujaf-378	51	34	to	to	PART
gujaf-378	51	35	receive	receive	VERB
gujaf-378	51	36	a	a	DET
gujaf-378	51	37	certain	certain	ADJ
gujaf-378	51	38	dividend	dividend	NOUN
gujaf-378	51	39	to	to	ADP
gujaf-378	51	40	an	an	DET
gujaf-378	51	41	uncertain	uncertain	ADJ
gujaf-378	51	42	capital	capital	NOUN
gujaf-378	51	43	gain	gain	NOUN
gujaf-378	51	44	,	,	PUNCT
gujaf-378	51	45	aligning	align	VERB
gujaf-378	51	46	with	with	ADP
gujaf-378	51	47	the	the	DET
gujaf-378	51	48	proverb	proverb	NOUN
gujaf-378	51	49	that	that	PRON
gujaf-378	51	50	says	say	VERB
gujaf-378	51	51	a	a	DET
gujaf-378	51	52	bird	bird	NOUN
gujaf-378	51	53	in	in	ADP
gujaf-378	51	54	hand	hand	NOUN
gujaf-378	51	55	is	be	AUX
gujaf-378	51	56	worth	worth	ADJ
gujaf-378	51	57	more	more	ADJ
gujaf-378	51	58	than	than	ADP
gujaf-378	51	59	two	two	NUM
gujaf-378	51	60	in	in	ADP
gujaf-378	51	61	the	the	DET
gujaf-378	51	62	bush	bush	PROPN
gujaf-378	51	63	.	.	PUNCT
gujaf-378	52	1	efficient	efficient	ADJ
gujaf-378	52	2	market	market	NOUN
gujaf-378	52	3	hypothesis	hypothesis	NOUN
gujaf-378	52	4	(	(	PUNCT
gujaf-378	52	5	emh	emh	PROPN
gujaf-378	52	6	)	)	PUNCT
gujaf-378	52	7	the	the	DET
gujaf-378	52	8	emh	emh	PROPN
gujaf-378	52	9	was	be	AUX
gujaf-378	52	10	introduced	introduce	VERB
gujaf-378	52	11	by	by	ADP
gujaf-378	52	12	fama	fama	PROPN
gujaf-378	52	13	(	(	PUNCT
gujaf-378	52	14	1970	1970	NUM
gujaf-378	52	15	)	)	PUNCT
gujaf-378	52	16	.	.	PUNCT
gujaf-378	53	1	it	it	PRON
gujaf-378	53	2	states	state	VERB
gujaf-378	53	3	that	that	SCONJ
gujaf-378	53	4	financial	financial	ADJ
gujaf-378	53	5	markets	market	NOUN
gujaf-378	53	6	efficiently	efficiently	ADV
gujaf-378	53	7	incorporate	incorporate	VERB
gujaf-378	53	8	new	new	ADJ
gujaf-378	53	9	information	information	NOUN
gujaf-378	53	10	,	,	PUNCT
gujaf-378	53	11	meaning	mean	VERB
gujaf-378	53	12	it	it	PRON
gujaf-378	53	13	’s	’	VERB
gujaf-378	53	14	hard	hard	ADJ
gujaf-378	53	15	to	to	PART
gujaf-378	53	16	earn	earn	VERB
gujaf-378	53	17	above	above	ADP
gujaf-378	53	18	average	average	ADJ
gujaf-378	53	19	market	market	NOUN
gujaf-378	53	20	returns	return	NOUN
gujaf-378	53	21	.	.	PUNCT
gujaf-378	54	1	it	it	PRON
gujaf-378	54	2	comes	come	VERB
gujaf-378	54	3	in	in	ADP
gujaf-378	54	4	three	three	NUM
gujaf-378	54	5	forms	form	NOUN
gujaf-378	54	6	:	:	PUNCT
gujaf-378	54	7	weak	weak	ADJ
gujaf-378	54	8	(	(	PUNCT
gujaf-378	54	9	prices	price	NOUN
gujaf-378	54	10	only	only	ADV
gujaf-378	54	11	include	include	VERB
gujaf-378	54	12	past	past	ADJ
gujaf-378	54	13	information	information	NOUN
gujaf-378	54	14	)	)	PUNCT
gujaf-378	54	15	,	,	PUNCT
gujaf-378	54	16	semi	semi	ADJ
gujaf-378	54	17	-	-	ADJ
gujaf-378	54	18	strong	strong	ADJ
gujaf-378	54	19	(	(	PUNCT
gujaf-378	54	20	prices	price	NOUN
gujaf-378	54	21	reflect	reflect	VERB
gujaf-378	54	22	all	all	DET
gujaf-378	54	23	public	public	ADJ
gujaf-378	54	24	information	information	NOUN
gujaf-378	54	25	)	)	PUNCT
gujaf-378	54	26	,	,	PUNCT
gujaf-378	54	27	and	and	CCONJ
gujaf-378	54	28	strong	strong	ADJ
gujaf-378	54	29	(	(	PUNCT
gujaf-378	54	30	prices	price	NOUN
gujaf-378	54	31	incorporate	incorporate	VERB
gujaf-378	54	32	private	private	ADJ
gujaf-378	54	33	information	information	NOUN
gujaf-378	54	34	as	as	ADV
gujaf-378	54	35	well	well	ADV
gujaf-378	54	36	)	)	PUNCT
gujaf-378	54	37	.	.	PUNCT
gujaf-378	55	1	emh	emh	PROPN
gujaf-378	55	2	implies	imply	VERB
gujaf-378	55	3	that	that	SCONJ
gujaf-378	55	4	passive	passive	ADJ
gujaf-378	55	5	investing	investing	NOUN
gujaf-378	55	6	is	be	AUX
gujaf-378	55	7	preferred	prefer	VERB
gujaf-378	55	8	because	because	SCONJ
gujaf-378	55	9	active	active	ADJ
gujaf-378	55	10	strategies	strategy	NOUN
gujaf-378	55	11	ca	can	AUX
gujaf-378	55	12	n’t	not	PART
gujaf-378	55	13	consistently	consistently	ADV
gujaf-378	55	14	do	do	VERB
gujaf-378	55	15	better	well	ADV
gujaf-378	55	16	.	.	PUNCT
gujaf-378	56	1	but	but	CCONJ
gujaf-378	56	2	market	market	NOUN
gujaf-378	56	3	bubbles	bubble	NOUN
gujaf-378	56	4	and	and	CCONJ
gujaf-378	56	5	behavioral	behavioral	ADJ
gujaf-378	56	6	biases	bias	NOUN
gujaf-378	56	7	serve	serve	VERB
gujaf-378	56	8	as	as	ADP
gujaf-378	56	9	a	a	DET
gujaf-378	56	10	counter	counter	NOUN
gujaf-378	56	11	to	to	AUX
gujaf-378	56	12	perfect	perfect	ADJ
gujaf-378	56	13	efficiency	efficiency	NOUN
gujaf-378	56	14	,	,	PUNCT
gujaf-378	56	15	critics	critic	NOUN
gujaf-378	56	16	argue	argue	VERB
gujaf-378	56	17	.	.	PUNCT
gujaf-378	57	1	although	although	SCONJ
gujaf-378	57	2	emh	emh	PROPN
gujaf-378	57	3	is	be	AUX
gujaf-378	57	4	not	not	PART
gujaf-378	57	5	perfect	perfect	ADJ
gujaf-378	57	6	,	,	PUNCT
gujaf-378	57	7	it	it	PRON
gujaf-378	57	8	is	be	AUX
gujaf-378	57	9	an	an	DET
gujaf-378	57	10	essential	essential	ADJ
gujaf-378	57	11	concept	concept	NOUN
gujaf-378	57	12	in	in	ADP
gujaf-378	57	13	finance	finance	NOUN
gujaf-378	57	14	,	,	PUNCT
gujaf-378	57	15	affecting	affect	VERB
gujaf-378	57	16	both	both	DET
gujaf-378	57	17	investment	investment	NOUN
gujaf-378	57	18	strategies	strategy	NOUN
gujaf-378	57	19	and	and	CCONJ
gujaf-378	57	20	market	market	NOUN
gujaf-378	57	21	theories	theory	NOUN
gujaf-378	57	22	.	.	PUNCT
gujaf-378	58	1	empirical	empirical	ADJ
gujaf-378	58	2	studies	study	NOUN
gujaf-378	58	3	the	the	DET
gujaf-378	58	4	key	key	ADJ
gujaf-378	58	5	findings	finding	NOUN
gujaf-378	58	6	and	and	CCONJ
gujaf-378	58	7	their	their	PRON
gujaf-378	58	8	implication	implication	NOUN
gujaf-378	58	9	of	of	ADP
gujaf-378	58	10	the	the	DET
gujaf-378	58	11	reviewed	review	VERB
gujaf-378	58	12	empirical	empirical	ADJ
gujaf-378	58	13	studies	study	NOUN
gujaf-378	58	14	on	on	ADP
gujaf-378	58	15	the	the	DET
gujaf-378	58	16	significance	significance	NOUN
gujaf-378	58	17	of	of	ADP
gujaf-378	58	18	accounting	accounting	NOUN
gujaf-378	58	19	numbers	number	NOUN
gujaf-378	58	20	are	be	AUX
gujaf-378	58	21	presented	present	VERB
gujaf-378	58	22	in	in	ADP
gujaf-378	58	23	table	table	NOUN
gujaf-378	58	24	1	1	NUM
gujaf-378	58	25	.	.	PUNCT
gujaf-378	58	26	table	table	NOUN
gujaf-378	58	27	1	1	NUM
gujaf-378	58	28	.	.	PUNCT
gujaf-378	59	1	summary	summary	NOUN
gujaf-378	59	2	of	of	ADP
gujaf-378	59	3	empirical	empirical	ADJ
gujaf-378	59	4	studies	study	NOUN
gujaf-378	59	5	study	study	VERB
gujaf-378	59	6	by	by	ADP
gujaf-378	59	7	key	key	ADJ
gujaf-378	59	8	findings	finding	NOUN
gujaf-378	59	9	value	value	NOUN
gujaf-378	59	10	relevance	relevance	NOUN
gujaf-378	59	11	dontoh	dontoh	INTJ
gujaf-378	59	12	et	et	PROPN
gujaf-378	59	13	al	al	PROPN
gujaf-378	59	14	.	.	PROPN
gujaf-378	60	1	(	(	PUNCT
gujaf-378	60	2	2004	2004	NUM
gujaf-378	60	3	)	)	PUNCT
gujaf-378	60	4	increase	increase	NOUN
gujaf-378	60	5	in	in	ADP
gujaf-378	60	6	non	non	ADJ
gujaf-378	60	7	-	-	ADJ
gujaf-378	60	8	informationbased	informationbased	ADJ
gujaf-378	60	9	trading	trading	NOUN
gujaf-378	60	10	reduces	reduce	VERB
gujaf-378	60	11	the	the	DET
gujaf-378	60	12	usefulness	usefulness	NOUN
gujaf-378	60	13	of	of	ADP
gujaf-378	60	14	accounting	accounting	NOUN
gujaf-378	60	15	figures	figure	NOUN
gujaf-378	60	16	in	in	ADP
gujaf-378	60	17	the	the	DET
gujaf-378	60	18	us	us	PROPN
gujaf-378	60	19	.	.	PUNCT
gujaf-378	61	1	declined	decline	VERB
gujaf-378	61	2	relevance	relevance	NOUN
gujaf-378	61	3	barth	barth	NOUN
gujaf-378	61	4	et	et	PROPN
gujaf-378	61	5	al	al	PROPN
gujaf-378	61	6	.	.	PROPN
gujaf-378	62	1	(	(	PUNCT
gujaf-378	62	2	2023	2023	NUM
gujaf-378	62	3	)	)	PUNCT
gujaf-378	62	4	despite	despite	SCONJ
gujaf-378	62	5	the	the	DET
gujaf-378	62	6	economic	economic	ADJ
gujaf-378	62	7	transition	transition	NOUN
gujaf-378	62	8	from	from	ADP
gujaf-378	62	9	the	the	DET
gujaf-378	62	10	industrial	industrial	NOUN
gujaf-378	62	11	to	to	ADP
gujaf-378	62	12	a	a	DET
gujaf-378	62	13	high	high	ADJ
gujaf-378	62	14	-	-	PUNCT
gujaf-378	62	15	technology	technology	NOUN
gujaf-378	62	16	driven	drive	VERB
gujaf-378	62	17	service	service	NOUN
gujaf-378	62	18	-	-	PUNCT
gujaf-378	62	19	oriented	orient	VERB
gujaf-378	62	20	economy	economy	NOUN
gujaf-378	62	21	,	,	PUNCT
gujaf-378	62	22	there	there	PRON
gujaf-378	62	23	was	be	VERB
gujaf-378	62	24	no	no	DET
gujaf-378	62	25	evidence	evidence	NOUN
gujaf-378	62	26	of	of	ADP
gujaf-378	62	27	a	a	DET
gujaf-378	62	28	decline	decline	NOUN
gujaf-378	62	29	in	in	ADP
gujaf-378	62	30	the	the	DET
gujaf-378	62	31	usefulness	usefulness	NOUN
gujaf-378	62	32	of	of	ADP
gujaf-378	62	33	accounting	accounting	NOUN
gujaf-378	62	34	information	information	NOUN
gujaf-378	62	35	from	from	ADP
gujaf-378	62	36	1962	1962	NUM
gujaf-378	62	37	to	to	ADP
gujaf-378	62	38	2014	2014	NUM
gujaf-378	62	39	in	in	ADP
gujaf-378	62	40	the	the	DET
gujaf-378	62	41	us	us	PROPN
gujaf-378	62	42	.	.	PUNCT
gujaf-378	63	1	maintained	maintain	VERB
gujaf-378	63	2	relevance	relevance	NOUN
gujaf-378	63	3	busari	busari	ADJ
gujaf-378	63	4	and	and	CCONJ
gujaf-378	63	5	bagudo	bagudo	PROPN
gujaf-378	63	6	(	(	PUNCT
gujaf-378	63	7	2021	2021	NUM
gujaf-378	63	8	)	)	PUNCT
gujaf-378	63	9	both	both	CCONJ
gujaf-378	63	10	separate	separate	ADJ
gujaf-378	63	11	and	and	CCONJ
gujaf-378	63	12	consolidated	consolidated	ADJ
gujaf-378	63	13	financial	financial	ADJ
gujaf-378	63	14	statements	statement	NOUN
gujaf-378	63	15	are	be	AUX
gujaf-378	63	16	relevant	relevant	ADJ
gujaf-378	63	17	for	for	ADP
gujaf-378	63	18	investment	investment	NOUN
gujaf-378	63	19	decisions	decision	NOUN
gujaf-378	63	20	,	,	PUNCT
gujaf-378	63	21	with	with	ADP
gujaf-378	63	22	the	the	DET
gujaf-378	63	23	consolidated	consolidated	ADJ
gujaf-378	63	24	being	be	AUX
gujaf-378	63	25	more	more	ADV
gujaf-378	63	26	relevant	relevant	ADJ
gujaf-378	63	27	in	in	ADP
gujaf-378	63	28	nigeria	nigeria	PROPN
gujaf-378	63	29	.	.	PUNCT
gujaf-378	64	1	relevant	relevant	PROPN
gujaf-378	64	2	bhatia	bhatia	PROPN
gujaf-378	64	3	and	and	CCONJ
gujaf-378	64	4	mulenga	mulenga	ADV
gujaf-378	64	5	(	(	PUNCT
gujaf-378	64	6	2019	2019	NUM
gujaf-378	64	7	)	)	PUNCT
gujaf-378	64	8	reviewed	review	VERB
gujaf-378	64	9	90	90	NUM
gujaf-378	64	10	empirical	empirical	ADJ
gujaf-378	64	11	studies	study	NOUN
gujaf-378	64	12	conducted	conduct	VERB
gujaf-378	64	13	across	across	ADP
gujaf-378	64	14	different	different	ADJ
gujaf-378	64	15	countries	country	NOUN
gujaf-378	64	16	during	during	ADP
gujaf-378	64	17	1993	1993	NUM
gujaf-378	64	18	-	-	SYM
gujaf-378	64	19	2016	2016	NUM
gujaf-378	64	20	and	and	CCONJ
gujaf-378	64	21	found	find	VERB
gujaf-378	64	22	that	that	SCONJ
gujaf-378	64	23	the	the	DET
gujaf-378	64	24	majority	majority	NOUN
gujaf-378	64	25	of	of	ADP
gujaf-378	64	26	the	the	DET
gujaf-378	64	27	studies	study	NOUN
gujaf-378	64	28	conclude	conclude	VERB
gujaf-378	64	29	that	that	SCONJ
gujaf-378	64	30	accounting	accounting	NOUN
gujaf-378	64	31	reports	report	NOUN
gujaf-378	64	32	were	be	AUX
gujaf-378	64	33	relevant	relevant	ADJ
gujaf-378	64	34	both	both	CCONJ
gujaf-378	64	35	before	before	ADP
gujaf-378	64	36	and	and	CCONJ
gujaf-378	64	37	after	after	ADP
gujaf-378	64	38	ifrs	ifrs	NOUN
gujaf-378	64	39	adoption	adoption	NOUN
gujaf-378	64	40	.	.	PUNCT
gujaf-378	65	1	maintained	maintain	VERB
gujaf-378	65	2	relevance	relevance	NOUN
gujaf-378	65	3	imhanzenobe	imhanzenobe	NOUN
gujaf-378	65	4	(	(	PUNCT
gujaf-378	65	5	2022	2022	NUM
gujaf-378	65	6	)	)	PUNCT
gujaf-378	65	7	reviewed	review	VERB
gujaf-378	65	8	prior	prior	ADJ
gujaf-378	65	9	studies	study	NOUN
gujaf-378	65	10	and	and	CCONJ
gujaf-378	65	11	found	find	VERB
gujaf-378	65	12	that	that	SCONJ
gujaf-378	65	13	most	most	ADJ
gujaf-378	65	14	of	of	ADP
gujaf-378	65	15	the	the	DET
gujaf-378	65	16	studies	study	NOUN
gujaf-378	65	17	indicate	indicate	VERB
gujaf-378	65	18	a	a	DET
gujaf-378	65	19	decline	decline	NOUN
gujaf-378	65	20	in	in	ADP
gujaf-378	65	21	value	value	NOUN
gujaf-378	65	22	relevance	relevance	NOUN
gujaf-378	65	23	of	of	ADP
gujaf-378	65	24	accounting	accounting	NOUN
gujaf-378	65	25	metrics	metric	NOUN
gujaf-378	65	26	in	in	ADP
gujaf-378	65	27	the	the	DET
gujaf-378	65	28	us	us	PROPN
gujaf-378	65	29	,	,	PUNCT
gujaf-378	65	30	and	and	CCONJ
gujaf-378	65	31	suggested	suggest	VERB
gujaf-378	65	32	that	that	SCONJ
gujaf-378	65	33	adoption	adoption	NOUN
gujaf-378	65	34	of	of	ADP
gujaf-378	65	35	ifrs	ifrs	PROPN
gujaf-378	65	36	enhances	enhance	VERB
gujaf-378	65	37	the	the	DET
gujaf-378	65	38	relevance	relevance	NOUN
gujaf-378	65	39	.	.	PUNCT
gujaf-378	66	1	declined	decline	VERB
gujaf-378	66	2	relevance	relevance	NOUN
gujaf-378	66	3	badu	badu	NOUN
gujaf-378	66	4	and	and	CCONJ
gujaf-378	66	5	appiah	appiah	PROPN
gujaf-378	66	6	(	(	PUNCT
gujaf-378	66	7	2018	2018	NUM
gujaf-378	66	8	)	)	PUNCT
gujaf-378	66	9	earnings	earning	NOUN
gujaf-378	66	10	and	and	CCONJ
gujaf-378	66	11	book	book	NOUN
gujaf-378	66	12	value	value	NOUN
gujaf-378	66	13	metrics	metric	NOUN
gujaf-378	66	14	have	have	VERB
gujaf-378	66	15	a	a	DET
gujaf-378	66	16	significant	significant	ADJ
gujaf-378	66	17	influence	influence	NOUN
gujaf-378	66	18	on	on	ADP
gujaf-378	66	19	stock	stock	NOUN
gujaf-378	66	20	price	price	NOUN
gujaf-378	66	21	movements	movement	NOUN
gujaf-378	66	22	in	in	ADP
gujaf-378	66	23	ghana	ghana	PROPN
gujaf-378	66	24	strong	strong	ADJ
gujaf-378	66	25	relevance	relevance	NOUN
gujaf-378	66	26	amahalu	amahalu	INTJ
gujaf-378	66	27	et	et	PROPN
gujaf-378	66	28	al	al	PROPN
gujaf-378	66	29	.	.	PROPN
gujaf-378	67	1	(	(	PUNCT
gujaf-378	67	2	2018	2018	NUM
gujaf-378	67	3	)	)	PUNCT
gujaf-378	67	4	eps	eps	PROPN
gujaf-378	67	5	and	and	CCONJ
gujaf-378	67	6	dps	dps	PROPN
gujaf-378	67	7	have	have	VERB
gujaf-378	67	8	significant	significant	ADJ
gujaf-378	67	9	positive	positive	ADJ
gujaf-378	67	10	impacts	impact	NOUN
gujaf-378	67	11	on	on	ADP
gujaf-378	67	12	msp	msp	PROPN
gujaf-378	67	13	in	in	ADP
gujaf-378	67	14	nigeria	nigeria	PROPN
gujaf-378	67	15	.	.	PUNCT
gujaf-378	68	1	strong	strong	ADJ
gujaf-378	68	2	relevance	relevance	NOUN
gujaf-378	68	3	gusau	gusau	ADJ
gujaf-378	68	4	journal	journal	NOUN
gujaf-378	68	5	of	of	ADP
gujaf-378	68	6	accounting	accounting	NOUN
gujaf-378	68	7	and	and	CCONJ
gujaf-378	68	8	finance	finance	NOUN
gujaf-378	68	9	,	,	PUNCT
gujaf-378	68	10	vol.6	vol.6	PROPN
gujaf-378	68	11	,	,	PUNCT
gujaf-378	68	12	issue	issue	NOUN
gujaf-378	68	13	1	1	NUM
gujaf-378	68	14	,	,	PUNCT
gujaf-378	68	15	april	april	PROPN
gujaf-378	68	16	,	,	PUNCT
gujaf-378	68	17	2025	2025	NUM
gujaf-378	68	18	193	193	NUM
gujaf-378	68	19	tahat	tahat	NOUN
gujaf-378	68	20	and	and	CCONJ
gujaf-378	68	21	alhadab	alhadab	NOUN
gujaf-378	68	22	(	(	PUNCT
gujaf-378	68	23	2017	2017	NUM
gujaf-378	68	24	)	)	PUNCT
gujaf-378	68	25	assessed	assess	VERB
gujaf-378	68	26	the	the	DET
gujaf-378	68	27	influence	influence	NOUN
gujaf-378	68	28	of	of	ADP
gujaf-378	68	29	book	book	NOUN
gujaf-378	68	30	value	value	NOUN
gujaf-378	68	31	,	,	PUNCT
gujaf-378	68	32	eps	eps	PROPN
gujaf-378	68	33	,	,	PUNCT
gujaf-378	68	34	and	and	CCONJ
gujaf-378	68	35	cash	cash	NOUN
gujaf-378	68	36	flows	flow	NOUN
gujaf-378	68	37	on	on	ADP
gujaf-378	68	38	mps	mp	NOUN
gujaf-378	68	39	and	and	CCONJ
gujaf-378	68	40	found	find	VERB
gujaf-378	68	41	that	that	SCONJ
gujaf-378	68	42	there	there	PRON
gujaf-378	68	43	is	be	VERB
gujaf-378	68	44	no	no	DET
gujaf-378	68	45	evidence	evidence	NOUN
gujaf-378	68	46	of	of	ADP
gujaf-378	68	47	decline	decline	NOUN
gujaf-378	68	48	in	in	ADP
gujaf-378	68	49	value	value	NOUN
gujaf-378	68	50	relevance	relevance	NOUN
gujaf-378	68	51	of	of	ADP
gujaf-378	68	52	accounting	accounting	NOUN
gujaf-378	68	53	numbers	number	NOUN
gujaf-378	68	54	over	over	ADP
gujaf-378	68	55	time	time	NOUN
gujaf-378	68	56	in	in	ADP
gujaf-378	68	57	the	the	DET
gujaf-378	68	58	uk	uk	PROPN
gujaf-378	68	59	.	.	PROPN
gujaf-378	68	60	maintained	maintain	VERB
gujaf-378	68	61	relevance	relevance	NOUN
gujaf-378	68	62	onyango	onyango	X
gujaf-378	68	63	odhiambo	odhiambo	ADJ
gujaf-378	68	64	(	(	PUNCT
gujaf-378	68	65	2013	2013	NUM
gujaf-378	68	66	)	)	PUNCT
gujaf-378	68	67	dividend	dividend	NOUN
gujaf-378	68	68	and	and	CCONJ
gujaf-378	68	69	earnings	earning	NOUN
gujaf-378	68	70	announcements	announcement	NOUN
gujaf-378	68	71	have	have	VERB
gujaf-378	68	72	an	an	DET
gujaf-378	68	73	insignificant	insignificant	ADJ
gujaf-378	68	74	effect	effect	NOUN
gujaf-378	68	75	on	on	ADP
gujaf-378	68	76	share	share	NOUN
gujaf-378	68	77	prices	price	NOUN
gujaf-378	68	78	in	in	ADP
gujaf-378	68	79	kenya	kenya	PROPN
gujaf-378	68	80	.	.	PUNCT
gujaf-378	69	1	weak	weak	ADJ
gujaf-378	69	2	relevance	relevance	NOUN
gujaf-378	69	3	ali	ali	PROPN
gujaf-378	69	4	and	and	CCONJ
gujaf-378	69	5	chowdhury	chowdhury	PROPN
gujaf-378	69	6	(	(	PUNCT
gujaf-378	69	7	2010	2010	NUM
gujaf-378	69	8	)	)	PUNCT
gujaf-378	69	9	dividend	dividend	NOUN
gujaf-378	69	10	declarations	declaration	NOUN
gujaf-378	69	11	have	have	VERB
gujaf-378	69	12	an	an	DET
gujaf-378	69	13	insignificant	insignificant	ADJ
gujaf-378	69	14	influence	influence	NOUN
gujaf-378	69	15	on	on	ADP
gujaf-378	69	16	share	share	NOUN
gujaf-378	69	17	prices	price	NOUN
gujaf-378	69	18	in	in	ADP
gujaf-378	69	19	bangladesh	bangladesh	NOUN
gujaf-378	69	20	weak	weak	ADJ
gujaf-378	69	21	relevance	relevance	NOUN
gujaf-378	69	22	arsal	arsal	NOUN
gujaf-378	69	23	(	(	PUNCT
gujaf-378	69	24	2021	2021	NUM
gujaf-378	69	25	)	)	PUNCT
gujaf-378	69	26	limited	limited	ADJ
gujaf-378	69	27	impacts	impact	NOUN
gujaf-378	69	28	of	of	ADP
gujaf-378	69	29	eps	ep	NOUN
gujaf-378	69	30	and	and	CCONJ
gujaf-378	69	31	dps	dps	NOUN
gujaf-378	69	32	on	on	ADP
gujaf-378	69	33	the	the	DET
gujaf-378	69	34	firm	firm	ADJ
gujaf-378	69	35	value	value	NOUN
gujaf-378	69	36	in	in	ADP
gujaf-378	69	37	indonesia	indonesia	PROPN
gujaf-378	69	38	weak	weak	ADJ
gujaf-378	69	39	relevance	relevance	NOUN
gujaf-378	69	40	source	source	NOUN
gujaf-378	69	41	:	:	PUNCT
gujaf-378	69	42	authors	author	NOUN
gujaf-378	69	43	’	’	PART
gujaf-378	69	44	construction	construction	NOUN
gujaf-378	69	45	empirical	empirical	ADJ
gujaf-378	69	46	gaps	gap	NOUN
gujaf-378	69	47	the	the	DET
gujaf-378	69	48	existing	exist	VERB
gujaf-378	69	49	literature	literature	NOUN
gujaf-378	69	50	could	could	AUX
gujaf-378	69	51	be	be	AUX
gujaf-378	69	52	viewed	view	VERB
gujaf-378	69	53	as	as	ADP
gujaf-378	69	54	inconclusive	inconclusive	ADJ
gujaf-378	69	55	.	.	PUNCT
gujaf-378	70	1	some	some	DET
gujaf-378	70	2	scholars	scholar	NOUN
gujaf-378	70	3	argue	argue	VERB
gujaf-378	70	4	that	that	SCONJ
gujaf-378	70	5	accounting	accounting	NOUN
gujaf-378	70	6	metrics	metric	NOUN
gujaf-378	70	7	have	have	AUX
gujaf-378	70	8	lost	lose	VERB
gujaf-378	70	9	their	their	PRON
gujaf-378	70	10	usefulness	usefulness	NOUN
gujaf-378	70	11	for	for	ADP
gujaf-378	70	12	investment	investment	NOUN
gujaf-378	70	13	decisions	decision	NOUN
gujaf-378	70	14	(	(	PUNCT
gujaf-378	70	15	dontoh	dontoh	NOUN
gujaf-378	70	16	et	et	PROPN
gujaf-378	70	17	al	al	PROPN
gujaf-378	70	18	.	.	PROPN
gujaf-378	70	19	,	,	PUNCT
gujaf-378	70	20	2004	2004	NUM
gujaf-378	70	21	)	)	PUNCT
gujaf-378	70	22	,	,	PUNCT
gujaf-378	70	23	while	while	SCONJ
gujaf-378	70	24	others	other	NOUN
gujaf-378	70	25	argue	argue	VERB
gujaf-378	70	26	that	that	SCONJ
gujaf-378	70	27	they	they	PRON
gujaf-378	70	28	have	have	AUX
gujaf-378	70	29	maintained	maintain	VERB
gujaf-378	70	30	their	their	PRON
gujaf-378	70	31	relevance	relevance	NOUN
gujaf-378	70	32	since	since	SCONJ
gujaf-378	70	33	their	their	PRON
gujaf-378	70	34	development	development	NOUN
gujaf-378	70	35	(	(	PUNCT
gujaf-378	70	36	barth	barth	NOUN
gujaf-378	70	37	et	et	PROPN
gujaf-378	70	38	al	al	PROPN
gujaf-378	70	39	.	.	PROPN
gujaf-378	70	40	,	,	PUNCT
gujaf-378	70	41	2023	2023	NUM
gujaf-378	70	42	)	)	PUNCT
gujaf-378	70	43	.	.	PUNCT
gujaf-378	71	1	additionally	additionally	ADV
gujaf-378	71	2	,	,	PUNCT
gujaf-378	71	3	while	while	SCONJ
gujaf-378	71	4	earnings	earning	NOUN
gujaf-378	71	5	and	and	CCONJ
gujaf-378	71	6	dividends	dividend	NOUN
gujaf-378	71	7	are	be	AUX
gujaf-378	71	8	among	among	ADP
gujaf-378	71	9	the	the	DET
gujaf-378	71	10	most	most	ADV
gujaf-378	71	11	common	common	ADJ
gujaf-378	71	12	metrics	metric	NOUN
gujaf-378	71	13	researched	research	VERB
gujaf-378	71	14	,	,	PUNCT
gujaf-378	71	15	cash	cash	NOUN
gujaf-378	71	16	flows	flow	NOUN
gujaf-378	71	17	and	and	CCONJ
gujaf-378	71	18	total	total	ADJ
gujaf-378	71	19	assets	asset	NOUN
gujaf-378	71	20	have	have	AUX
gujaf-378	71	21	received	receive	VERB
gujaf-378	71	22	relatively	relatively	ADV
gujaf-378	71	23	less	less	ADJ
gujaf-378	71	24	attention	attention	NOUN
gujaf-378	71	25	.	.	PUNCT
gujaf-378	72	1	furthermore	furthermore	ADV
gujaf-378	72	2	,	,	PUNCT
gujaf-378	72	3	while	while	SCONJ
gujaf-378	72	4	efficient	efficient	ADJ
gujaf-378	72	5	market	market	NOUN
gujaf-378	72	6	hypothesis	hypothesis	NOUN
gujaf-378	72	7	(	(	PUNCT
gujaf-378	72	8	emh	emh	PROPN
gujaf-378	72	9	)	)	PUNCT
gujaf-378	72	10	is	be	AUX
gujaf-378	72	11	well	well	ADV
gujaf-378	72	12	-	-	PUNCT
gujaf-378	72	13	studied	study	VERB
gujaf-378	72	14	in	in	ADP
gujaf-378	72	15	developed	develop	VERB
gujaf-378	72	16	economies	economy	NOUN
gujaf-378	72	17	,	,	PUNCT
gujaf-378	72	18	african	african	ADJ
gujaf-378	72	19	markets	market	NOUN
gujaf-378	72	20	are	be	AUX
gujaf-378	72	21	often	often	ADV
gujaf-378	72	22	believed	believe	VERB
gujaf-378	72	23	to	to	PART
gujaf-378	72	24	lack	lack	VERB
gujaf-378	72	25	efficiency	efficiency	NOUN
gujaf-378	72	26	due	due	ADP
gujaf-378	72	27	to	to	ADP
gujaf-378	72	28	lower	low	ADJ
gujaf-378	72	29	transparency	transparency	NOUN
gujaf-378	72	30	,	,	PUNCT
gujaf-378	72	31	which	which	PRON
gujaf-378	72	32	requires	require	VERB
gujaf-378	72	33	empirical	empirical	ADJ
gujaf-378	72	34	validation	validation	NOUN
gujaf-378	72	35	.	.	PUNCT
gujaf-378	73	1	hypotheses	hypothese	VERB
gujaf-378	73	2	development	development	NOUN
gujaf-378	73	3	previous	previous	ADJ
gujaf-378	73	4	studies	study	NOUN
gujaf-378	73	5	show	show	VERB
gujaf-378	73	6	mixed	mixed	ADJ
gujaf-378	73	7	results	result	NOUN
gujaf-378	73	8	about	about	ADP
gujaf-378	73	9	the	the	DET
gujaf-378	73	10	influence	influence	NOUN
gujaf-378	73	11	of	of	ADP
gujaf-378	73	12	eps	eps	PROPN
gujaf-378	73	13	on	on	ADP
gujaf-378	73	14	share	share	NOUN
gujaf-378	73	15	price	price	NOUN
gujaf-378	73	16	.	.	PUNCT
gujaf-378	74	1	as	as	SCONJ
gujaf-378	74	2	eps	eps	PROPN
gujaf-378	74	3	is	be	AUX
gujaf-378	74	4	the	the	DET
gujaf-378	74	5	fundamental	fundamental	ADJ
gujaf-378	74	6	measure	measure	NOUN
gujaf-378	74	7	of	of	ADP
gujaf-378	74	8	a	a	DET
gujaf-378	74	9	company	company	NOUN
gujaf-378	74	10	's	's	PART
gujaf-378	74	11	profitability	profitability	NOUN
gujaf-378	74	12	and	and	CCONJ
gujaf-378	74	13	the	the	DET
gujaf-378	74	14	primary	primary	ADJ
gujaf-378	74	15	determinant	determinant	NOUN
gujaf-378	74	16	of	of	ADP
gujaf-378	74	17	the	the	DET
gujaf-378	74	18	company	company	NOUN
gujaf-378	74	19	's	's	PART
gujaf-378	74	20	intrinsic	intrinsic	ADJ
gujaf-378	74	21	value	value	NOUN
gujaf-378	74	22	,	,	PUNCT
gujaf-378	74	23	it	it	PRON
gujaf-378	74	24	is	be	AUX
gujaf-378	74	25	believed	believe	VERB
gujaf-378	74	26	to	to	PART
gujaf-378	74	27	influence	influence	VERB
gujaf-378	74	28	stock	stock	NOUN
gujaf-378	74	29	price	price	NOUN
gujaf-378	74	30	.	.	PUNCT
gujaf-378	75	1	thus	thus	ADV
gujaf-378	75	2	,	,	PUNCT
gujaf-378	75	3	we	we	PRON
gujaf-378	75	4	hypothesize	hypothesize	VERB
gujaf-378	75	5	;	;	PUNCT
gujaf-378	75	6	h1	h1	PROPN
gujaf-378	75	7	:	:	PUNCT
gujaf-378	75	8	eps	eps	PROPN
gujaf-378	75	9	has	have	VERB
gujaf-378	75	10	a	a	DET
gujaf-378	75	11	significantly	significantly	ADV
gujaf-378	75	12	positive	positive	ADJ
gujaf-378	75	13	impact	impact	NOUN
gujaf-378	75	14	on	on	ADP
gujaf-378	75	15	market	market	NOUN
gujaf-378	75	16	share	share	NOUN
gujaf-378	75	17	price	price	NOUN
gujaf-378	75	18	in	in	ADP
gujaf-378	75	19	kenya	kenya	PROPN
gujaf-378	75	20	.	.	PUNCT
gujaf-378	76	1	research	research	NOUN
gujaf-378	76	2	on	on	ADP
gujaf-378	76	3	the	the	DET
gujaf-378	76	4	influence	influence	NOUN
gujaf-378	76	5	of	of	ADP
gujaf-378	76	6	dividend	dividend	NOUN
gujaf-378	76	7	payouts	payout	NOUN
gujaf-378	76	8	and	and	CCONJ
gujaf-378	76	9	share	share	NOUN
gujaf-378	76	10	prices	price	NOUN
gujaf-378	76	11	also	also	ADV
gujaf-378	76	12	shows	show	VERB
gujaf-378	76	13	divergent	divergent	ADJ
gujaf-378	76	14	views	view	NOUN
gujaf-378	76	15	.	.	PUNCT
gujaf-378	77	1	as	as	SCONJ
gujaf-378	77	2	dividends	dividend	NOUN
gujaf-378	77	3	frequently	frequently	ADV
gujaf-378	77	4	indicate	indicate	VERB
gujaf-378	77	5	financial	financial	ADJ
gujaf-378	77	6	health	health	NOUN
gujaf-378	77	7	and	and	CCONJ
gujaf-378	77	8	potential	potential	NOUN
gujaf-378	77	9	for	for	ADP
gujaf-378	77	10	future	future	ADJ
gujaf-378	77	11	earnings	earning	NOUN
gujaf-378	77	12	,	,	PUNCT
gujaf-378	77	13	we	we	PRON
gujaf-378	77	14	hypothesize	hypothesize	VERB
gujaf-378	77	15	that	that	SCONJ
gujaf-378	77	16	;	;	PUNCT
gujaf-378	77	17	h2	h2	NOUN
gujaf-378	77	18	:	:	PUNCT
gujaf-378	77	19	dps	dps	PROPN
gujaf-378	77	20	has	have	VERB
gujaf-378	77	21	a	a	DET
gujaf-378	77	22	significant	significant	ADJ
gujaf-378	77	23	positive	positive	ADJ
gujaf-378	77	24	impact	impact	NOUN
gujaf-378	77	25	on	on	ADP
gujaf-378	77	26	share	share	NOUN
gujaf-378	77	27	prices	price	NOUN
gujaf-378	77	28	in	in	ADP
gujaf-378	77	29	kenya	kenya	PROPN
gujaf-378	77	30	.	.	PUNCT
gujaf-378	78	1	existing	exist	VERB
gujaf-378	78	2	literature	literature	NOUN
gujaf-378	78	3	shows	show	VERB
gujaf-378	78	4	that	that	SCONJ
gujaf-378	78	5	cash	cash	NOUN
gujaf-378	78	6	flows	flow	NOUN
gujaf-378	78	7	are	be	AUX
gujaf-378	78	8	significantly	significantly	ADV
gujaf-378	78	9	associated	associate	VERB
gujaf-378	78	10	with	with	ADP
gujaf-378	78	11	msp	msp	PROPN
gujaf-378	78	12	.	.	PUNCT
gujaf-378	79	1	therefore	therefore	ADV
gujaf-378	79	2	,	,	PUNCT
gujaf-378	79	3	we	we	PRON
gujaf-378	79	4	hypothesize	hypothesize	VERB
gujaf-378	79	5	;	;	PUNCT
gujaf-378	79	6	h3	h3	NOUN
gujaf-378	79	7	:	:	PUNCT
gujaf-378	79	8	operating	operate	VERB
gujaf-378	79	9	cash	cash	NOUN
gujaf-378	79	10	flows	flow	NOUN
gujaf-378	79	11	have	have	VERB
gujaf-378	79	12	a	a	DET
gujaf-378	79	13	strong	strong	ADJ
gujaf-378	79	14	positive	positive	ADJ
gujaf-378	79	15	influence	influence	NOUN
gujaf-378	79	16	on	on	ADP
gujaf-378	79	17	market	market	NOUN
gujaf-378	79	18	share	share	NOUN
gujaf-378	79	19	price	price	NOUN
gujaf-378	79	20	in	in	ADP
gujaf-378	79	21	kenya	kenya	PROPN
gujaf-378	79	22	.	.	PUNCT
gujaf-378	80	1	total	total	ADJ
gujaf-378	80	2	assets	asset	NOUN
gujaf-378	80	3	indicate	indicate	VERB
gujaf-378	80	4	the	the	DET
gujaf-378	80	5	resources	resource	NOUN
gujaf-378	80	6	and	and	CCONJ
gujaf-378	80	7	business	business	NOUN
gujaf-378	80	8	scale	scale	NOUN
gujaf-378	80	9	of	of	ADP
gujaf-378	80	10	a	a	DET
gujaf-378	80	11	company	company	NOUN
gujaf-378	80	12	,	,	PUNCT
gujaf-378	80	13	which	which	PRON
gujaf-378	80	14	have	have	VERB
gujaf-378	80	15	a	a	DET
gujaf-378	80	16	significant	significant	ADJ
gujaf-378	80	17	relationship	relationship	NOUN
gujaf-378	80	18	with	with	ADP
gujaf-378	80	19	market	market	NOUN
gujaf-378	80	20	valuation	valuation	NOUN
gujaf-378	80	21	.	.	PUNCT
gujaf-378	81	1	therefore	therefore	ADV
gujaf-378	81	2	,	,	PUNCT
gujaf-378	81	3	we	we	PRON
gujaf-378	81	4	hypothesize	hypothesize	VERB
gujaf-378	81	5	;	;	PUNCT
gujaf-378	81	6	h4	h4	NOUN
gujaf-378	81	7	:	:	PUNCT
gujaf-378	81	8	total	total	ADJ
gujaf-378	81	9	assets	asset	NOUN
gujaf-378	81	10	have	have	VERB
gujaf-378	81	11	a	a	DET
gujaf-378	81	12	significant	significant	ADJ
gujaf-378	81	13	relationship	relationship	NOUN
gujaf-378	81	14	with	with	ADP
gujaf-378	81	15	market	market	NOUN
gujaf-378	81	16	share	share	NOUN
gujaf-378	81	17	price	price	NOUN
gujaf-378	81	18	in	in	ADP
gujaf-378	81	19	kenya	kenya	PROPN
gujaf-378	81	20	.	.	PUNCT
gujaf-378	82	1	gusau	gusau	PROPN
gujaf-378	82	2	journal	journal	PROPN
gujaf-378	82	3	of	of	ADP
gujaf-378	82	4	accounting	accounting	NOUN
gujaf-378	82	5	and	and	CCONJ
gujaf-378	82	6	finance	finance	NOUN
gujaf-378	82	7	,	,	PUNCT
gujaf-378	82	8	vol.6	vol.6	PROPN
gujaf-378	82	9	,	,	PUNCT
gujaf-378	82	10	issue	issue	NOUN
gujaf-378	82	11	1	1	NUM
gujaf-378	82	12	,	,	PUNCT
gujaf-378	82	13	april	april	PROPN
gujaf-378	82	14	,	,	PUNCT
gujaf-378	82	15	2025	2025	NUM
gujaf-378	82	16	194	194	NUM
gujaf-378	82	17	3.0	3.0	NUM
gujaf-378	82	18	methodology	methodology	NOUN
gujaf-378	82	19	data	datum	NOUN
gujaf-378	82	20	source	source	NOUN
gujaf-378	82	21	and	and	CCONJ
gujaf-378	82	22	sample	sample	NOUN
gujaf-378	82	23	selection	selection	NOUN
gujaf-378	82	24	this	this	DET
gujaf-378	82	25	study	study	NOUN
gujaf-378	82	26	utilizes	utilize	VERB
gujaf-378	82	27	the	the	DET
gujaf-378	82	28	audited	audit	VERB
gujaf-378	82	29	consolidated	consolidated	ADJ
gujaf-378	82	30	financial	financial	ADJ
gujaf-378	82	31	statements	statement	NOUN
gujaf-378	82	32	of	of	ADP
gujaf-378	82	33	the	the	DET
gujaf-378	82	34	companies	company	NOUN
gujaf-378	82	35	quoted	quote	VERB
gujaf-378	82	36	on	on	ADP
gujaf-378	82	37	the	the	DET
gujaf-378	82	38	nairobi	nairobi	PROPN
gujaf-378	82	39	securities	securities	PROPN
gujaf-378	82	40	exchange	exchange	PROPN
gujaf-378	82	41	obtained	obtain	VERB
gujaf-378	82	42	from	from	ADP
gujaf-378	82	43	africanfinancials	africanfinancial	NOUN
gujaf-378	82	44	.	.	PUNCT
gujaf-378	83	1	data	datum	NOUN
gujaf-378	83	2	for	for	ADP
gujaf-378	83	3	56	56	NUM
gujaf-378	83	4	companies	company	NOUN
gujaf-378	83	5	in	in	ADP
gujaf-378	83	6	23	23	NUM
gujaf-378	83	7	sectors	sector	NOUN
gujaf-378	83	8	were	be	AUX
gujaf-378	83	9	available	available	ADJ
gujaf-378	83	10	as	as	ADP
gujaf-378	83	11	of	of	ADP
gujaf-378	83	12	august	august	PROPN
gujaf-378	83	13	2024	2024	NUM
gujaf-378	83	14	.	.	PUNCT
gujaf-378	84	1	all	all	DET
gujaf-378	84	2	the	the	DET
gujaf-378	84	3	selected	select	VERB
gujaf-378	84	4	companies	company	NOUN
gujaf-378	84	5	prepare	prepare	VERB
gujaf-378	84	6	financial	financial	ADJ
gujaf-378	84	7	statements	statement	NOUN
gujaf-378	84	8	in	in	ADP
gujaf-378	84	9	kenyan	kenyan	ADJ
gujaf-378	84	10	shillings	shilling	NOUN
gujaf-378	84	11	(	(	PUNCT
gujaf-378	84	12	kes)2	kes)2	PROPN
gujaf-378	84	13	and	and	CCONJ
gujaf-378	84	14	in	in	ADP
gujaf-378	84	15	accordance	accordance	NOUN
gujaf-378	84	16	with	with	ADP
gujaf-378	84	17	ifrs	ifrs	PROPN
gujaf-378	84	18	.	.	PUNCT
gujaf-378	85	1	two	two	NUM
gujaf-378	85	2	firms	firm	NOUN
gujaf-378	85	3	were	be	AUX
gujaf-378	85	4	excluded	exclude	VERB
gujaf-378	85	5	due	due	ADP
gujaf-378	85	6	to	to	ADP
gujaf-378	85	7	insufficient	insufficient	ADJ
gujaf-378	85	8	reports	report	NOUN
gujaf-378	85	9	,	,	PUNCT
gujaf-378	85	10	and	and	CCONJ
gujaf-378	85	11	two	two	NUM
gujaf-378	85	12	others	other	NOUN
gujaf-378	85	13	were	be	AUX
gujaf-378	85	14	excluded	exclude	VERB
gujaf-378	85	15	because	because	SCONJ
gujaf-378	85	16	their	their	PRON
gujaf-378	85	17	reports	report	NOUN
gujaf-378	85	18	are	be	AUX
gujaf-378	85	19	prepared	prepare	VERB
gujaf-378	85	20	in	in	ADP
gujaf-378	85	21	foreign	foreign	ADJ
gujaf-378	85	22	currencies	currency	NOUN
gujaf-378	85	23	.	.	PUNCT
gujaf-378	86	1	consequently	consequently	ADV
gujaf-378	86	2	,	,	PUNCT
gujaf-378	86	3	the	the	DET
gujaf-378	86	4	sample	sample	NOUN
gujaf-378	86	5	consists	consist	VERB
gujaf-378	86	6	392	392	NUM
gujaf-378	86	7	observations	observation	NOUN
gujaf-378	86	8	covering	cover	VERB
gujaf-378	86	9	the	the	DET
gujaf-378	86	10	period	period	NOUN
gujaf-378	86	11	from	from	ADP
gujaf-378	86	12	2016	2016	NUM
gujaf-378	86	13	to	to	ADP
gujaf-378	86	14	2023	2023	NUM
gujaf-378	86	15	.	.	PUNCT
gujaf-378	87	1	this	this	DET
gujaf-378	87	2	study	study	NOUN
gujaf-378	87	3	year	year	NOUN
gujaf-378	87	4	begins	begin	VERB
gujaf-378	87	5	in	in	ADP
gujaf-378	87	6	2016	2016	NUM
gujaf-378	87	7	because	because	SCONJ
gujaf-378	87	8	share	share	NOUN
gujaf-378	87	9	price	price	NOUN
gujaf-378	87	10	data	datum	NOUN
gujaf-378	87	11	before	before	ADP
gujaf-378	87	12	2017	2017	NUM
gujaf-378	87	13	were	be	AUX
gujaf-378	87	14	unavailable	unavailable	ADJ
gujaf-378	87	15	.	.	PUNCT
gujaf-378	88	1	nevertheless	nevertheless	ADV
gujaf-378	88	2	,	,	PUNCT
gujaf-378	88	3	the	the	DET
gujaf-378	88	4	number	number	NOUN
gujaf-378	88	5	of	of	ADP
gujaf-378	88	6	observations	observation	NOUN
gujaf-378	88	7	is	be	AUX
gujaf-378	88	8	sufficient	sufficient	ADJ
gujaf-378	88	9	for	for	ADP
gujaf-378	88	10	robust	robust	ADJ
gujaf-378	88	11	analyses	analysis	NOUN
gujaf-378	88	12	.	.	PUNCT
gujaf-378	89	1	variables	variable	NOUN
gujaf-378	89	2	market	market	NOUN
gujaf-378	89	3	share	share	NOUN
gujaf-378	89	4	price	price	NOUN
gujaf-378	89	5	(	(	PUNCT
gujaf-378	89	6	msp	msp	PROPN
gujaf-378	89	7	)	)	PUNCT
gujaf-378	89	8	is	be	AUX
gujaf-378	89	9	the	the	DET
gujaf-378	89	10	dependent	dependent	ADJ
gujaf-378	89	11	variable	variable	NOUN
gujaf-378	89	12	,	,	PUNCT
gujaf-378	89	13	and	and	CCONJ
gujaf-378	89	14	it	it	PRON
gujaf-378	89	15	data	datum	NOUN
gujaf-378	89	16	is	be	AUX
gujaf-378	89	17	sourced	source	VERB
gujaf-378	89	18	from	from	ADP
gujaf-378	89	19	africanfinancials	africanfinancial	NOUN
gujaf-378	89	20	,	,	PUNCT
gujaf-378	89	21	with	with	ADP
gujaf-378	89	22	the	the	DET
gujaf-378	89	23	closing	closing	NOUN
gujaf-378	89	24	price	price	NOUN
gujaf-378	89	25	of	of	ADP
gujaf-378	89	26	shares	share	NOUN
gujaf-378	89	27	on	on	ADP
gujaf-378	89	28	the	the	DET
gujaf-378	89	29	annual	annual	ADJ
gujaf-378	89	30	reporting	reporting	NOUN
gujaf-378	89	31	date	date	NOUN
gujaf-378	89	32	of	of	ADP
gujaf-378	89	33	each	each	DET
gujaf-378	89	34	company	company	NOUN
gujaf-378	89	35	.	.	PUNCT
gujaf-378	90	1	the	the	DET
gujaf-378	90	2	independent	independent	ADJ
gujaf-378	90	3	variables	variable	NOUN
gujaf-378	90	4	are	be	AUX
gujaf-378	90	5	:	:	PUNCT
gujaf-378	90	6	earnings	earning	NOUN
gujaf-378	90	7	per	per	ADP
gujaf-378	90	8	share	share	NOUN
gujaf-378	90	9	,	,	PUNCT
gujaf-378	90	10	dividends	dividend	NOUN
gujaf-378	90	11	per	per	ADP
gujaf-378	90	12	share	share	NOUN
gujaf-378	90	13	,	,	PUNCT
gujaf-378	90	14	operating	operate	VERB
gujaf-378	90	15	cash	cash	NOUN
gujaf-378	90	16	flows	flow	NOUN
gujaf-378	90	17	,	,	PUNCT
gujaf-378	90	18	and	and	CCONJ
gujaf-378	90	19	total	total	ADJ
gujaf-378	90	20	assets	asset	NOUN
gujaf-378	90	21	.	.	PUNCT
gujaf-378	91	1	all	all	DET
gujaf-378	91	2	financial	financial	ADJ
gujaf-378	91	3	information	information	NOUN
gujaf-378	91	4	,	,	PUNCT
gujaf-378	91	5	in	in	ADP
gujaf-378	91	6	kes	kes	PROPN
gujaf-378	91	7	,	,	PUNCT
gujaf-378	91	8	was	be	AUX
gujaf-378	91	9	manually	manually	ADV
gujaf-378	91	10	collected	collect	VERB
gujaf-378	91	11	from	from	ADP
gujaf-378	91	12	the	the	DET
gujaf-378	91	13	audited	audit	VERB
gujaf-378	91	14	annual	annual	ADJ
gujaf-378	91	15	financial	financial	ADJ
gujaf-378	91	16	reports	report	NOUN
gujaf-378	91	17	.	.	PUNCT
gujaf-378	92	1	the	the	DET
gujaf-378	92	2	statistical	statistical	ADJ
gujaf-378	92	3	software	software	NOUN
gujaf-378	92	4	used	use	VERB
gujaf-378	92	5	for	for	ADP
gujaf-378	92	6	data	datum	NOUN
gujaf-378	92	7	processing	processing	NOUN
gujaf-378	92	8	is	be	AUX
gujaf-378	92	9	stata	stata	ADJ
gujaf-378	92	10	17	17	NUM
gujaf-378	92	11	.	.	PUNCT
gujaf-378	92	12	table	table	NOUN
gujaf-378	92	13	2	2	NUM
gujaf-378	92	14	.	.	PUNCT
gujaf-378	92	15	descriptions	description	NOUN
gujaf-378	92	16	of	of	ADP
gujaf-378	92	17	variables	variables	PRON
gujaf-378	92	18	variable	variable	ADJ
gujaf-378	92	19	abbreviation	abbreviation	NOUN
gujaf-378	92	20	explanation	explanation	NOUN
gujaf-378	92	21	market	market	NOUN
gujaf-378	92	22	share	share	NOUN
gujaf-378	92	23	price	price	NOUN
gujaf-378	92	24	msp	msp	NOUN
gujaf-378	92	25	market	market	NOUN
gujaf-378	92	26	value	value	NOUN
gujaf-378	92	27	per	per	ADP
gujaf-378	92	28	ordinary	ordinary	ADJ
gujaf-378	92	29	share	share	NOUN
gujaf-378	92	30	.	.	PUNCT
gujaf-378	93	1	earnings	earning	NOUN
gujaf-378	93	2	per	per	ADP
gujaf-378	93	3	share	share	NOUN
gujaf-378	93	4	eps	eps	PROPN
gujaf-378	93	5	basic	basic	ADJ
gujaf-378	93	6	earnings	earning	NOUN
gujaf-378	93	7	per	per	ADP
gujaf-378	93	8	share	share	NOUN
gujaf-378	93	9	.	.	PUNCT
gujaf-378	94	1	dividend	dividend	NOUN
gujaf-378	94	2	per	per	ADP
gujaf-378	94	3	share	share	NOUN
gujaf-378	94	4	dps	dps	NOUN
gujaf-378	94	5	annual	annual	ADJ
gujaf-378	94	6	dividend	dividend	NOUN
gujaf-378	94	7	per	per	ADP
gujaf-378	94	8	ordinary	ordinary	ADJ
gujaf-378	94	9	share	share	NOUN
gujaf-378	94	10	.	.	PUNCT
gujaf-378	95	1	operating	operate	VERB
gujaf-378	95	2	cash	cash	NOUN
gujaf-378	95	3	flow	flow	NOUN
gujaf-378	95	4	ocf	ocf	NOUN
gujaf-378	95	5	cash	cash	NOUN
gujaf-378	95	6	flows	flow	NOUN
gujaf-378	95	7	related	relate	VERB
gujaf-378	95	8	to	to	ADP
gujaf-378	95	9	operating	operating	NOUN
gujaf-378	95	10	activities	activity	NOUN
gujaf-378	95	11	.	.	PUNCT
gujaf-378	96	1	total	total	ADJ
gujaf-378	96	2	assets	asset	NOUN
gujaf-378	96	3	tas	tas	X
gujaf-378	96	4	total	total	ADJ
gujaf-378	96	5	assets	asset	NOUN
gujaf-378	96	6	of	of	ADP
gujaf-378	96	7	a	a	DET
gujaf-378	96	8	company	company	NOUN
gujaf-378	96	9	source	source	NOUN
gujaf-378	96	10	:	:	PUNCT
gujaf-378	96	11	authors	author	NOUN
gujaf-378	96	12	’	’	PART
gujaf-378	96	13	design	design	NOUN
gujaf-378	96	14	model	model	NOUN
gujaf-378	96	15	specification	specification	NOUN
gujaf-378	96	16	panel	panel	NOUN
gujaf-378	96	17	data	datum	NOUN
gujaf-378	96	18	is	be	AUX
gujaf-378	96	19	a	a	DET
gujaf-378	96	20	type	type	NOUN
gujaf-378	96	21	of	of	ADP
gujaf-378	96	22	data	datum	NOUN
gujaf-378	96	23	for	for	ADP
gujaf-378	96	24	several	several	ADJ
gujaf-378	96	25	entities	entity	NOUN
gujaf-378	96	26	that	that	PRON
gujaf-378	96	27	are	be	AUX
gujaf-378	96	28	observed	observe	VERB
gujaf-378	96	29	across	across	ADP
gujaf-378	96	30	different	different	ADJ
gujaf-378	96	31	periods	period	NOUN
gujaf-378	96	32	(	(	PUNCT
gujaf-378	96	33	rizka	rizka	PROPN
gujaf-378	96	34	zulfikar	zulfikar	NOUN
gujaf-378	96	35	,	,	PUNCT
gujaf-378	96	36	2018	2018	NUM
gujaf-378	96	37	)	)	PUNCT
gujaf-378	96	38	.	.	PUNCT
gujaf-378	97	1	these	these	DET
gujaf-378	97	2	entities	entity	NOUN
gujaf-378	97	3	can	can	AUX
gujaf-378	97	4	include	include	VERB
gujaf-378	97	5	countries	country	NOUN
gujaf-378	97	6	,	,	PUNCT
gujaf-378	97	7	firms	firm	NOUN
gujaf-378	97	8	,	,	PUNCT
gujaf-378	97	9	and	and	CCONJ
gujaf-378	97	10	so	so	ADV
gujaf-378	97	11	on	on	ADP
gujaf-378	97	12	(	(	PUNCT
gujaf-378	97	13	oscar	oscar	NOUN
gujaf-378	97	14	torresreyna	torresreyna	NOUN
gujaf-378	97	15	,	,	PUNCT
gujaf-378	97	16	2007	2007	NUM
gujaf-378	97	17	)	)	PUNCT
gujaf-378	97	18	.	.	PUNCT
gujaf-378	98	1	and	and	CCONJ
gujaf-378	98	2	the	the	DET
gujaf-378	98	3	periods	period	NOUN
gujaf-378	98	4	can	can	AUX
gujaf-378	98	5	be	be	AUX
gujaf-378	98	6	days	day	NOUN
gujaf-378	98	7	,	,	PUNCT
gujaf-378	98	8	weeks	week	NOUN
gujaf-378	98	9	,	,	PUNCT
gujaf-378	98	10	months	month	NOUN
gujaf-378	98	11	,	,	PUNCT
gujaf-378	98	12	quarters	quarter	NOUN
gujaf-378	98	13	,	,	PUNCT
gujaf-378	98	14	semi	semi	ADJ
gujaf-378	98	15	-	-	ADJ
gujaf-378	98	16	annually	annually	ADV
gujaf-378	98	17	,	,	PUNCT
gujaf-378	98	18	annually	annually	ADV
gujaf-378	98	19	,	,	PUNCT
gujaf-378	98	20	and	and	CCONJ
gujaf-378	98	21	so	so	ADV
gujaf-378	98	22	on	on	ADV
gujaf-378	98	23	.	.	PUNCT
gujaf-378	99	1	pooled	pool	VERB
gujaf-378	99	2	ols	ols	PROPN
gujaf-378	99	3	regression	regression	PROPN
gujaf-378	99	4	pooled	pool	VERB
gujaf-378	99	5	ols	ol	NOUN
gujaf-378	99	6	regression	regression	NOUN
gujaf-378	99	7	is	be	AUX
gujaf-378	99	8	a	a	DET
gujaf-378	99	9	simple	simple	ADJ
gujaf-378	99	10	panel	panel	NOUN
gujaf-378	99	11	technique	technique	NOUN
gujaf-378	99	12	that	that	PRON
gujaf-378	99	13	pools	pool	VERB
gujaf-378	99	14	together	together	ADV
gujaf-378	99	15	cross	cross	ADJ
gujaf-378	99	16	-	-	ADJ
gujaf-378	99	17	sectional	sectional	ADJ
gujaf-378	99	18	and	and	CCONJ
gujaf-378	99	19	timeseries	timeserie	NOUN
gujaf-378	99	20	observations	observation	NOUN
gujaf-378	99	21	without	without	ADP
gujaf-378	99	22	adjusting	adjust	VERB
gujaf-378	99	23	for	for	ADP
gujaf-378	99	24	individualor	individualor	NOUN
gujaf-378	99	25	time	time	NOUN
gujaf-378	99	26	-	-	PUNCT
gujaf-378	99	27	specific	specific	ADJ
gujaf-378	99	28	effects	effect	NOUN
gujaf-378	99	29	.	.	PUNCT
gujaf-378	100	1	the	the	DET
gujaf-378	100	2	model	model	NOUN
gujaf-378	100	3	is	be	AUX
gujaf-378	100	4	expressed	express	VERB
gujaf-378	100	5	as	as	ADP
gujaf-378	100	6	:	:	PUNCT
gujaf-378	100	7	2	2	NUM
gujaf-378	100	8	the	the	DET
gujaf-378	100	9	kenyan	kenyan	PROPN
gujaf-378	100	10	shilling	shilling	PROPN
gujaf-378	100	11	(	(	PUNCT
gujaf-378	100	12	kes	kes	PROPN
gujaf-378	100	13	)	)	PUNCT
gujaf-378	100	14	,	,	PUNCT
gujaf-378	100	15	symbolized	symbolize	VERB
gujaf-378	100	16	as	as	ADP
gujaf-378	100	17	ksh	ksh	PROPN
gujaf-378	100	18	,	,	PUNCT
gujaf-378	100	19	is	be	AUX
gujaf-378	100	20	issued	issue	VERB
gujaf-378	100	21	by	by	ADP
gujaf-378	100	22	the	the	DET
gujaf-378	100	23	central	central	ADJ
gujaf-378	100	24	bank	bank	PROPN
gujaf-378	100	25	of	of	ADP
gujaf-378	100	26	kenya	kenya	PROPN
gujaf-378	100	27	.	.	PUNCT
gujaf-378	101	1	it	it	PRON
gujaf-378	101	2	was	be	AUX
gujaf-378	101	3	introduced	introduce	VERB
gujaf-378	101	4	in	in	ADP
gujaf-378	101	5	1966	1966	NUM
gujaf-378	101	6	,	,	PUNCT
gujaf-378	101	7	replacing	replace	VERB
gujaf-378	101	8	the	the	DET
gujaf-378	101	9	east	east	ADJ
gujaf-378	101	10	african	african	ADJ
gujaf-378	101	11	shilling	shilling	PROPN
gujaf-378	101	12	.	.	PUNCT
gujaf-378	102	1	as	as	ADP
gujaf-378	102	2	of	of	ADP
gujaf-378	102	3	may	may	PROPN
gujaf-378	102	4	6	6	NUM
gujaf-378	102	5	,	,	PUNCT
gujaf-378	102	6	2025	2025	NUM
gujaf-378	102	7	,	,	PUNCT
gujaf-378	102	8	the	the	DET
gujaf-378	102	9	exchange	exchange	NOUN
gujaf-378	102	10	is	be	AUX
gujaf-378	102	11	approximately	approximately	ADV
gujaf-378	102	12	1kes=129	1kes=129	NUM
gujaf-378	102	13	usd	usd	NOUN
gujaf-378	102	14	,	,	PUNCT
gujaf-378	102	15	reflecting	reflect	VERB
gujaf-378	102	16	its	its	PRON
gujaf-378	102	17	value	value	NOUN
gujaf-378	102	18	in	in	ADP
gujaf-378	102	19	international	international	ADJ
gujaf-378	102	20	markets	market	NOUN
gujaf-378	102	21	.	.	PUNCT
gujaf-378	103	1	gusau	gusau	ADJ
gujaf-378	103	2	journal	journal	PROPN
gujaf-378	103	3	of	of	ADP
gujaf-378	103	4	accounting	accounting	NOUN
gujaf-378	103	5	and	and	CCONJ
gujaf-378	103	6	finance	finance	NOUN
gujaf-378	103	7	,	,	PUNCT
gujaf-378	103	8	vol.6	vol.6	PROPN
gujaf-378	103	9	,	,	PUNCT
gujaf-378	103	10	issue	issue	NOUN
gujaf-378	103	11	1	1	NUM
gujaf-378	103	12	,	,	PUNCT
gujaf-378	103	13	april	april	PROPN
gujaf-378	103	14	,	,	PUNCT
gujaf-378	103	15	2025	2025	NUM
gujaf-378	103	16	195	195	NUM
gujaf-378	103	17	ƴ	ƴ	NOUN
gujaf-378	103	18	,	,	PUNCT
gujaf-378	103	19	=	=	SYM
gujaf-378	103	20	𝛽	𝛽	PROPN
gujaf-378	103	21	+	+	NUM
gujaf-378	103	22	𝛽	𝛽	NOUN
gujaf-378	103	23	𝛸	𝛸	NOUN
gujaf-378	103	24	,	,	PUNCT
gujaf-378	103	25	+	+	CCONJ
gujaf-378	103	26	𝜖	𝜖	X
gujaf-378	103	27	,	,	PUNCT
gujaf-378	103	28	(	(	PUNCT
gujaf-378	103	29	1	1	NUM
gujaf-378	103	30	)	)	PUNCT
gujaf-378	103	31	where	where	SCONJ
gujaf-378	103	32	:	:	PUNCT
gujaf-378	103	33	ƴ	ƴ	PROPN
gujaf-378	103	34	,	,	PUNCT
gujaf-378	103	35	:	:	PUNCT
gujaf-378	103	36	dependent	dependent	ADJ
gujaf-378	103	37	variable	variable	ADJ
gujaf-378	103	38	𝛽	𝛽	NOUN
gujaf-378	103	39	:	:	PUNCT
gujaf-378	103	40	intercept	intercept	NOUN
gujaf-378	103	41	𝛽	𝛽	NOUN
gujaf-378	103	42	:	:	PUNCT
gujaf-378	103	43	coefficient	coefficient	NOUN
gujaf-378	103	44	of	of	ADP
gujaf-378	103	45	the	the	DET
gujaf-378	103	46	regressor	regressor	NOUN
gujaf-378	103	47	.	.	PUNCT
gujaf-378	104	1	𝛸	𝛸	NOUN
gujaf-378	104	2	,	,	PUNCT
gujaf-378	104	3	:	:	PUNCT
gujaf-378	104	4	regressor	regressor	NOUN
gujaf-378	104	5	𝜖	𝜖	PROPN
gujaf-378	104	6	,	,	PUNCT
gujaf-378	104	7	:	:	PUNCT
gujaf-378	104	8	residual	residual	ADJ
gujaf-378	104	9	random	random	ADJ
gujaf-378	104	10	effects	effect	NOUN
gujaf-378	104	11	(	(	PUNCT
gujaf-378	104	12	re	re	NOUN
gujaf-378	104	13	)	)	PUNCT
gujaf-378	104	14	the	the	DET
gujaf-378	104	15	re	re	PROPN
gujaf-378	104	16	model	model	NOUN
gujaf-378	104	17	takes	take	VERB
gujaf-378	104	18	into	into	ADP
gujaf-378	104	19	account	account	NOUN
gujaf-378	104	20	the	the	DET
gujaf-378	104	21	panel	panel	NOUN
gujaf-378	104	22	structure	structure	NOUN
gujaf-378	104	23	by	by	ADP
gujaf-378	104	24	including	include	VERB
gujaf-378	104	25	entity	entity	NOUN
gujaf-378	104	26	-	-	PUNCT
gujaf-378	104	27	specific	specific	ADJ
gujaf-378	104	28	effects	effect	NOUN
gujaf-378	104	29	.	.	PUNCT
gujaf-378	105	1	it	it	PRON
gujaf-378	105	2	assumes	assume	VERB
gujaf-378	105	3	the	the	DET
gujaf-378	105	4	unobserved	unobserved	ADJ
gujaf-378	105	5	entity	entity	NOUN
gujaf-378	105	6	effects	effect	NOUN
gujaf-378	105	7	are	be	AUX
gujaf-378	105	8	not	not	PART
gujaf-378	105	9	correlated	correlate	VERB
gujaf-378	105	10	with	with	ADP
gujaf-378	105	11	the	the	DET
gujaf-378	105	12	regressors	regressor	NOUN
gujaf-378	105	13	and	and	CCONJ
gujaf-378	105	14	are	be	AUX
gujaf-378	105	15	randomly	randomly	ADV
gujaf-378	105	16	distributed	distribute	VERB
gujaf-378	105	17	(	(	PUNCT
gujaf-378	105	18	khalid	khalid	PROPN
gujaf-378	105	19	ahmed	ahmed	PROPN
gujaf-378	105	20	,	,	PUNCT
gujaf-378	105	21	2024	2024	NUM
gujaf-378	105	22	)	)	PUNCT
gujaf-378	105	23	.	.	PUNCT
gujaf-378	106	1	thus	thus	ADV
gujaf-378	106	2	,	,	PUNCT
gujaf-378	106	3	it	it	PRON
gujaf-378	106	4	is	be	AUX
gujaf-378	106	5	included	include	VERB
gujaf-378	106	6	with	with	ADP
gujaf-378	106	7	the	the	DET
gujaf-378	106	8	regressors	regressor	NOUN
gujaf-378	106	9	as	as	SCONJ
gujaf-378	106	10	shown	show	VERB
gujaf-378	106	11	in	in	ADP
gujaf-378	106	12	equation	equation	NOUN
gujaf-378	106	13	2	2	NUM
gujaf-378	106	14	.	.	X
gujaf-378	106	15	ƴ	ƴ	PRON
gujaf-378	106	16	,	,	PUNCT
gujaf-378	106	17	=	=	SYM
gujaf-378	106	18	𝛽	𝛽	PROPN
gujaf-378	106	19	+	+	NUM
gujaf-378	106	20	𝛽	𝛽	NOUN
gujaf-378	106	21	𝛸	𝛸	NOUN
gujaf-378	106	22	,	,	PUNCT
gujaf-378	106	23	+	+	ADJ
gujaf-378	106	24	ꭒ	ꭒ	X
gujaf-378	106	25	+	+	SYM
gujaf-378	106	26	𝜖	𝜖	PROPN
gujaf-378	106	27	,	,	PUNCT
gujaf-378	106	28	(	(	PUNCT
gujaf-378	106	29	2	2	NUM
gujaf-378	106	30	)	)	PUNCT
gujaf-378	106	31	where	where	SCONJ
gujaf-378	106	32	:	:	PUNCT
gujaf-378	106	33	ꭒ	ꭒ	PROPN
gujaf-378	106	34	denotes	denote	VERB
gujaf-378	106	35	the	the	DET
gujaf-378	106	36	individual	individual	ADJ
gujaf-378	106	37	entity	entity	NOUN
gujaf-378	106	38	-	-	PUNCT
gujaf-378	106	39	specific	specific	ADJ
gujaf-378	106	40	component	component	NOUN
gujaf-378	106	41	that	that	PRON
gujaf-378	106	42	is	be	AUX
gujaf-378	106	43	uncorrelated	uncorrelate	VERB
gujaf-378	106	44	with	with	ADP
gujaf-378	106	45	x	x	SYM
gujaf-378	106	46	(	(	PUNCT
gujaf-378	106	47	1	1	NUM
gujaf-378	106	48	)	)	PUNCT
gujaf-378	106	49	fixed	fix	VERB
gujaf-378	106	50	effects	effect	NOUN
gujaf-378	106	51	(	(	PUNCT
gujaf-378	106	52	fe	fe	X
gujaf-378	106	53	)	)	PUNCT
gujaf-378	106	54	the	the	DET
gujaf-378	106	55	fixed	fix	VERB
gujaf-378	106	56	effects	effect	NOUN
gujaf-378	106	57	model	model	NOUN
gujaf-378	106	58	assumes	assume	VERB
gujaf-378	106	59	that	that	SCONJ
gujaf-378	106	60	unobservable	unobservable	ADJ
gujaf-378	106	61	entity	entity	NOUN
gujaf-378	106	62	-	-	PUNCT
gujaf-378	106	63	specific	specific	ADJ
gujaf-378	106	64	effects	effect	NOUN
gujaf-378	106	65	are	be	AUX
gujaf-378	106	66	correlated	correlate	VERB
gujaf-378	106	67	with	with	ADP
gujaf-378	106	68	independent	independent	ADJ
gujaf-378	106	69	variables	variable	NOUN
gujaf-378	106	70	and	and	CCONJ
gujaf-378	106	71	is	be	AUX
gujaf-378	106	72	constant	constant	ADJ
gujaf-378	106	73	over	over	ADP
gujaf-378	106	74	time	time	NOUN
gujaf-378	106	75	,	,	PUNCT
gujaf-378	106	76	but	but	CCONJ
gujaf-378	106	77	vary	vary	VERB
gujaf-378	106	78	across	across	ADP
gujaf-378	106	79	entities	entity	NOUN
gujaf-378	106	80	(	(	PUNCT
gujaf-378	106	81	nwakuya	nwakuya	PROPN
gujaf-378	106	82	&	&	CCONJ
gujaf-378	106	83	ijomah	ijomah	NOUN
gujaf-378	106	84	,	,	PUNCT
gujaf-378	106	85	2017	2017	NUM
gujaf-378	106	86	)	)	PUNCT
gujaf-378	106	87	.	.	PUNCT
gujaf-378	107	1	the	the	DET
gujaf-378	107	2	model	model	NOUN
gujaf-378	107	3	is	be	AUX
gujaf-378	107	4	expressed	express	VERB
gujaf-378	107	5	as	as	ADP
gujaf-378	107	6	:	:	PUNCT
gujaf-378	107	7	ƴ	ƴ	PROPN
gujaf-378	107	8	,	,	PUNCT
gujaf-378	107	9	=	=	SYM
gujaf-378	107	10	𝛽	𝛽	PROPN
gujaf-378	107	11	+	+	NUM
gujaf-378	107	12	𝛽	𝛽	NOUN
gujaf-378	107	13	𝛸	𝛸	NOUN
gujaf-378	107	14	,	,	PUNCT
gujaf-378	108	1	+	+	NOUN
gujaf-378	108	2	𝛽	𝛽	NOUN
gujaf-378	108	3	𝑍	𝑍	PROPN
gujaf-378	108	4	+	+	X
gujaf-378	108	5	𝜖	𝜖	X
gujaf-378	108	6	,	,	PUNCT
gujaf-378	108	7	(	(	PUNCT
gujaf-378	108	8	3	3	NUM
gujaf-378	108	9	)	)	PUNCT
gujaf-378	108	10	where	where	SCONJ
gujaf-378	108	11	:	:	PUNCT
gujaf-378	108	12	𝑍	𝑍	NOUN
gujaf-378	108	13	denotes	denote	VERB
gujaf-378	108	14	the	the	DET
gujaf-378	108	15	individual	individual	ADJ
gujaf-378	108	16	entity	entity	NOUN
gujaf-378	108	17	-	-	PUNCT
gujaf-378	108	18	specific	specific	ADJ
gujaf-378	108	19	component	component	NOUN
gujaf-378	108	20	that	that	PRON
gujaf-378	108	21	is	be	AUX
gujaf-378	108	22	correlated	correlate	VERB
gujaf-378	108	23	with	with	ADP
gujaf-378	108	24	x	x	SYM
gujaf-378	108	25	model	model	NOUN
gujaf-378	108	26	selection	selection	NOUN
gujaf-378	108	27	approaches	approach	VERB
gujaf-378	108	28	torres	torre	NOUN
gujaf-378	108	29	-	-	PUNCT
gujaf-378	108	30	reyna	reyna	NOUN
gujaf-378	108	31	(	(	PUNCT
gujaf-378	108	32	2007	2007	NUM
gujaf-378	108	33	)	)	PUNCT
gujaf-378	108	34	presents	present	VERB
gujaf-378	108	35	a	a	DET
gujaf-378	108	36	clear	clear	ADJ
gujaf-378	108	37	direction	direction	NOUN
gujaf-378	108	38	in	in	ADP
gujaf-378	108	39	selecting	select	VERB
gujaf-378	108	40	a	a	DET
gujaf-378	108	41	model	model	NOUN
gujaf-378	108	42	in	in	ADP
gujaf-378	108	43	panel	panel	NOUN
gujaf-378	108	44	data	datum	NOUN
gujaf-378	108	45	analysis	analysis	NOUN
gujaf-378	108	46	.	.	PUNCT
gujaf-378	109	1	when	when	SCONJ
gujaf-378	109	2	there	there	PRON
gujaf-378	109	3	is	be	VERB
gujaf-378	109	4	an	an	DET
gujaf-378	109	5	indication	indication	NOUN
gujaf-378	109	6	that	that	SCONJ
gujaf-378	109	7	entity	entity	NOUN
gujaf-378	109	8	-	-	PUNCT
gujaf-378	109	9	specific	specific	ADJ
gujaf-378	109	10	features	feature	NOUN
gujaf-378	109	11	affect	affect	VERB
gujaf-378	109	12	the	the	DET
gujaf-378	109	13	independent	independent	ADJ
gujaf-378	109	14	variables	variable	NOUN
gujaf-378	109	15	,	,	PUNCT
gujaf-378	109	16	the	the	DET
gujaf-378	109	17	fixed	fix	VERB
gujaf-378	109	18	effects	effect	NOUN
gujaf-378	109	19	model	model	NOUN
gujaf-378	109	20	is	be	AUX
gujaf-378	109	21	preferred	prefer	VERB
gujaf-378	109	22	because	because	SCONJ
gujaf-378	109	23	it	it	PRON
gujaf-378	109	24	effectively	effectively	ADV
gujaf-378	109	25	controls	control	VERB
gujaf-378	109	26	for	for	ADP
gujaf-378	109	27	this	this	DET
gujaf-378	109	28	unobservable	unobservable	ADJ
gujaf-378	109	29	heterogeneity	heterogeneity	NOUN
gujaf-378	109	30	.	.	PUNCT
gujaf-378	110	1	when	when	SCONJ
gujaf-378	110	2	this	this	DET
gujaf-378	110	3	relation	relation	NOUN
gujaf-378	110	4	is	be	AUX
gujaf-378	110	5	unclear	unclear	ADJ
gujaf-378	110	6	,	,	PUNCT
gujaf-378	110	7	diagnostic	diagnostic	ADJ
gujaf-378	110	8	tests	test	NOUN
gujaf-378	110	9	should	should	AUX
gujaf-378	110	10	be	be	AUX
gujaf-378	110	11	conducted	conduct	VERB
gujaf-378	110	12	to	to	PART
gujaf-378	110	13	choose	choose	VERB
gujaf-378	110	14	the	the	DET
gujaf-378	110	15	suitable	suitable	ADJ
gujaf-378	110	16	approach	approach	NOUN
gujaf-378	110	17	.	.	PUNCT
gujaf-378	111	1	the	the	DET
gujaf-378	111	2	breusch	breusch	VERB
gujaf-378	111	3	-	-	PUNCT
gujaf-378	111	4	pagan	pagan	VERB
gujaf-378	111	5	lagrange	lagrange	PROPN
gujaf-378	111	6	multiplier	multipli	ADJ
gujaf-378	111	7	test	test	NOUN
gujaf-378	111	8	helps	help	VERB
gujaf-378	111	9	to	to	PART
gujaf-378	111	10	choose	choose	VERB
gujaf-378	111	11	between	between	ADP
gujaf-378	111	12	pooled	pool	VERB
gujaf-378	111	13	ols	ol	NOUN
gujaf-378	111	14	and	and	CCONJ
gujaf-378	111	15	re	re	NOUN
gujaf-378	111	16	models	model	NOUN
gujaf-378	111	17	,	,	PUNCT
gujaf-378	111	18	and	and	CCONJ
gujaf-378	111	19	hausman	hausman	ADJ
gujaf-378	111	20	test	test	NOUN
gujaf-378	111	21	to	to	PART
gujaf-378	111	22	choose	choose	VERB
gujaf-378	111	23	between	between	ADP
gujaf-378	111	24	re	re	NOUN
gujaf-378	111	25	and	and	CCONJ
gujaf-378	111	26	fe	fe	X
gujaf-378	111	27	.	.	NOUN
gujaf-378	111	28	4.0	4.0	NUM
gujaf-378	111	29	results	result	NOUN
gujaf-378	111	30	and	and	CCONJ
gujaf-378	111	31	discussions	discussion	NOUN
gujaf-378	111	32	the	the	DET
gujaf-378	111	33	summary	summary	NOUN
gujaf-378	111	34	statistics	statistic	NOUN
gujaf-378	111	35	for	for	ADP
gujaf-378	111	36	the	the	DET
gujaf-378	111	37	sample	sample	NOUN
gujaf-378	111	38	,	,	PUNCT
gujaf-378	111	39	which	which	PRON
gujaf-378	111	40	comprises	comprise	VERB
gujaf-378	111	41	52	52	NUM
gujaf-378	111	42	listed	list	VERB
gujaf-378	111	43	companies	company	NOUN
gujaf-378	111	44	,	,	PUNCT
gujaf-378	111	45	are	be	AUX
gujaf-378	111	46	detailed	detail	VERB
gujaf-378	111	47	in	in	ADP
gujaf-378	111	48	table	table	NOUN
gujaf-378	111	49	3	3	NUM
gujaf-378	111	50	.	.	PUNCT
gujaf-378	112	1	the	the	DET
gujaf-378	112	2	monetary	monetary	ADJ
gujaf-378	112	3	value	value	NOUN
gujaf-378	112	4	of	of	ADP
gujaf-378	112	5	the	the	DET
gujaf-378	112	6	variables	variable	NOUN
gujaf-378	112	7	is	be	AUX
gujaf-378	112	8	in	in	ADP
gujaf-378	112	9	kenyan	kenyan	ADJ
gujaf-378	112	10	shillings	shilling	NOUN
gujaf-378	112	11	.	.	PUNCT
gujaf-378	113	1	table	table	NOUN
gujaf-378	113	2	3	3	NUM
gujaf-378	113	3	.	.	PUNCT
gujaf-378	113	4	descriptive	descriptive	ADJ
gujaf-378	113	5	statistics	statistic	NOUN
gujaf-378	113	6	variable	variable	ADJ
gujaf-378	113	7	obs	obs	PROPN
gujaf-378	113	8	.	.	PUNCT
gujaf-378	114	1	mean	mean	VERB
gujaf-378	114	2	std	std	PROPN
gujaf-378	114	3	.	.	PROPN
gujaf-378	115	1	dev	dev	PROPN
gujaf-378	115	2	.	.	PUNCT
gujaf-378	115	3	min	min	PROPN
gujaf-378	115	4	.	.	PROPN
gujaf-378	115	5	max	max	PROPN
gujaf-378	115	6	.	.	PUNCT
gujaf-378	116	1	msp	msp	PROPN
gujaf-378	116	2	393	393	NUM
gujaf-378	116	3	47.628	47.628	NUM
gujaf-378	116	4	64.438	64.438	NUM
gujaf-378	116	5	2.07	2.07	NUM
gujaf-378	116	6	200.5	200.5	NUM
gujaf-378	116	7	eps	eps	ADP
gujaf-378	116	8	413	413	NUM
gujaf-378	116	9	4.873	4.873	NUM
gujaf-378	116	10	7.950	7.950	NUM
gujaf-378	116	11	-2.05	-2.05	NUM
gujaf-378	116	12	23.49	23.49	NUM
gujaf-378	116	13	dps	dps	NOUN
gujaf-378	116	14	412	412	NUM
gujaf-378	116	15	3.287	3.287	NUM
gujaf-378	116	16	7.429	7.429	NUM
gujaf-378	116	17	0.00	0.00	NUM
gujaf-378	116	18	52.00	52.00	NUM
gujaf-378	116	19	lnocf	lnocf	NOUN
gujaf-378	116	20	412	412	NUM
gujaf-378	116	21	24.31	24.31	NUM
gujaf-378	116	22	0.357	0.357	NUM
gujaf-378	116	23	23.479	23.479	NUM
gujaf-378	116	24	26.339	26.339	NUM
gujaf-378	116	25	lntas	lnta	NOUN
gujaf-378	116	26	413	413	NUM
gujaf-378	116	27	23.677	23.677	NUM
gujaf-378	116	28	2.439	2.439	NUM
gujaf-378	116	29	15.753	15.753	NUM
gujaf-378	116	30	30.73	30.73	NUM
gujaf-378	116	31	source	source	NOUN
gujaf-378	116	32	:	:	PUNCT
gujaf-378	116	33	authors	author	NOUN
gujaf-378	116	34	’	'	PUNCT
gujaf-378	116	35	computation	computation	NOUN
gujaf-378	116	36	gusau	gusau	PROPN
gujaf-378	116	37	journal	journal	NOUN
gujaf-378	116	38	of	of	ADP
gujaf-378	116	39	accounting	accounting	NOUN
gujaf-378	116	40	and	and	CCONJ
gujaf-378	116	41	finance	finance	NOUN
gujaf-378	116	42	,	,	PUNCT
gujaf-378	116	43	vol.6	vol.6	PROPN
gujaf-378	116	44	,	,	PUNCT
gujaf-378	116	45	issue	issue	NOUN
gujaf-378	116	46	1	1	NUM
gujaf-378	116	47	,	,	PUNCT
gujaf-378	116	48	april	april	PROPN
gujaf-378	116	49	,	,	PUNCT
gujaf-378	116	50	2025	2025	NUM
gujaf-378	116	51	196	196	NUM
gujaf-378	116	52	all	all	DET
gujaf-378	116	53	the	the	DET
gujaf-378	116	54	variables	variable	NOUN
gujaf-378	116	55	are	be	AUX
gujaf-378	116	56	winsorized	winsorize	VERB
gujaf-378	116	57	at	at	ADP
gujaf-378	116	58	the	the	DET
gujaf-378	116	59	1st	1st	ADJ
gujaf-378	116	60	and	and	CCONJ
gujaf-378	116	61	99th	99th	ADJ
gujaf-378	116	62	percentiles	percentile	NOUN
gujaf-378	116	63	to	to	PART
gujaf-378	116	64	reduce	reduce	VERB
gujaf-378	116	65	bias	bias	NOUN
gujaf-378	116	66	from	from	ADP
gujaf-378	116	67	outliers	outlier	NOUN
gujaf-378	116	68	.	.	PUNCT
gujaf-378	117	1	additionally	additionally	ADV
gujaf-378	117	2	,	,	PUNCT
gujaf-378	117	3	ocf	ocf	PROPN
gujaf-378	117	4	and	and	CCONJ
gujaf-378	117	5	tas	ta	NOUN
gujaf-378	117	6	are	be	AUX
gujaf-378	117	7	also	also	ADV
gujaf-378	117	8	transformed	transform	VERB
gujaf-378	117	9	to	to	ADP
gujaf-378	117	10	their	their	PRON
gujaf-378	117	11	natural	natural	ADJ
gujaf-378	117	12	logarithmic	logarithmic	ADJ
gujaf-378	117	13	value	value	NOUN
gujaf-378	117	14	as	as	SCONJ
gujaf-378	117	15	their	their	PRON
gujaf-378	117	16	values	value	NOUN
gujaf-378	117	17	are	be	AUX
gujaf-378	117	18	too	too	ADV
gujaf-378	117	19	large	large	ADJ
gujaf-378	117	20	for	for	ADP
gujaf-378	117	21	the	the	DET
gujaf-378	117	22	analysis	analysis	NOUN
gujaf-378	117	23	.	.	PUNCT
gujaf-378	118	1	regression	regression	VERB
gujaf-378	118	2	analysis	analysis	NOUN
gujaf-378	118	3	before	before	ADP
gujaf-378	118	4	running	run	VERB
gujaf-378	118	5	regression	regression	NOUN
gujaf-378	118	6	,	,	PUNCT
gujaf-378	118	7	we	we	PRON
gujaf-378	118	8	perform	perform	VERB
gujaf-378	118	9	several	several	ADJ
gujaf-378	118	10	diagnostic	diagnostic	ADJ
gujaf-378	118	11	tests	test	NOUN
gujaf-378	118	12	to	to	PART
gujaf-378	118	13	ensure	ensure	VERB
gujaf-378	118	14	the	the	DET
gujaf-378	118	15	satisfaction	satisfaction	NOUN
gujaf-378	118	16	of	of	ADP
gujaf-378	118	17	conditions	condition	NOUN
gujaf-378	118	18	necessary	necessary	ADJ
gujaf-378	118	19	for	for	ADP
gujaf-378	118	20	the	the	DET
gujaf-378	118	21	estimation	estimation	NOUN
gujaf-378	118	22	.	.	PUNCT
gujaf-378	119	1	diagnostic	diagnostic	ADJ
gujaf-378	119	2	tests	test	NOUN
gujaf-378	119	3	multicollinearity	multicollinearity	NOUN
gujaf-378	119	4	test	test	NOUN
gujaf-378	119	5	to	to	PART
gujaf-378	119	6	test	test	VERB
gujaf-378	119	7	multicollinearity	multicollinearity	NOUN
gujaf-378	119	8	problem	problem	NOUN
gujaf-378	119	9	in	in	ADP
gujaf-378	119	10	variables	variable	NOUN
gujaf-378	119	11	,	,	PUNCT
gujaf-378	119	12	which	which	PRON
gujaf-378	119	13	is	be	AUX
gujaf-378	119	14	a	a	DET
gujaf-378	119	15	crucial	crucial	ADJ
gujaf-378	119	16	assumption	assumption	NOUN
gujaf-378	119	17	in	in	ADP
gujaf-378	119	18	regression	regression	NOUN
gujaf-378	119	19	estimation	estimation	NOUN
gujaf-378	119	20	,	,	PUNCT
gujaf-378	119	21	we	we	PRON
gujaf-378	119	22	conduct	conduct	VERB
gujaf-378	119	23	the	the	DET
gujaf-378	119	24	variance	variance	NOUN
gujaf-378	119	25	inflation	inflation	NOUN
gujaf-378	119	26	factor	factor	NOUN
gujaf-378	119	27	(	(	PUNCT
gujaf-378	119	28	vif	vif	NOUN
gujaf-378	119	29	)	)	PUNCT
gujaf-378	119	30	test	test	NOUN
gujaf-378	119	31	.	.	PUNCT
gujaf-378	120	1	table	table	NOUN
gujaf-378	120	2	4	4	NUM
gujaf-378	120	3	.	.	PUNCT
gujaf-378	121	1	vif	vif	PROPN
gujaf-378	121	2	test	test	NOUN
gujaf-378	121	3	result	result	VERB
gujaf-378	121	4	variable	variable	ADJ
gujaf-378	121	5	vif	vif	NOUN
gujaf-378	121	6	1	1	NUM
gujaf-378	121	7	/	/	SYM
gujaf-378	121	8	vif	vif	NOUN
gujaf-378	121	9	lneps	lnep	VERB
gujaf-378	121	10	2.36	2.36	NUM
gujaf-378	121	11	.423700	.423700	PROPN
gujaf-378	121	12	lndps	lndps	PROPN
gujaf-378	121	13	2.09	2.09	NUM
gujaf-378	121	14	.477486	.477486	PROPN
gujaf-378	121	15	lntas	lnta	NOUN
gujaf-378	121	16	1.30	1.30	NUM
gujaf-378	121	17	.770470	.770470	PROPN
gujaf-378	121	18	lnocf	lnocf	PROPN
gujaf-378	122	1	1.07	1.07	NUM
gujaf-378	122	2	.932396	.932396	NOUN
gujaf-378	123	1	mean	mean	VERB
gujaf-378	123	2	vif	vif	NOUN
gujaf-378	123	3	1.71	1.71	NUM
gujaf-378	123	4	source	source	NOUN
gujaf-378	123	5	:	:	PUNCT
gujaf-378	123	6	authors	author	NOUN
gujaf-378	123	7	’	'	PUNCT
gujaf-378	123	8	computation	computation	NOUN
gujaf-378	123	9	the	the	DET
gujaf-378	123	10	test	test	NOUN
gujaf-378	123	11	result	result	NOUN
gujaf-378	123	12	shows	show	VERB
gujaf-378	123	13	that	that	SCONJ
gujaf-378	123	14	each	each	DET
gujaf-378	123	15	independent	independent	ADJ
gujaf-378	123	16	variables	variable	NOUN
gujaf-378	123	17	have	have	VERB
gujaf-378	123	18	values	value	NOUN
gujaf-378	123	19	below	below	ADP
gujaf-378	123	20	5	5	NUM
gujaf-378	123	21	,	,	PUNCT
gujaf-378	123	22	a	a	DET
gujaf-378	123	23	level	level	NOUN
gujaf-378	123	24	that	that	PRON
gujaf-378	123	25	is	be	AUX
gujaf-378	123	26	not	not	PART
gujaf-378	123	27	a	a	DET
gujaf-378	123	28	concern	concern	NOUN
gujaf-378	123	29	for	for	ADP
gujaf-378	123	30	multicollinearity	multicollinearity	NOUN
gujaf-378	123	31	and	and	CCONJ
gujaf-378	123	32	is	be	AUX
gujaf-378	123	33	often	often	ADV
gujaf-378	123	34	considered	consider	VERB
gujaf-378	123	35	acceptable	acceptable	ADJ
gujaf-378	123	36	.	.	PUNCT
gujaf-378	124	1	therefore	therefore	ADV
gujaf-378	124	2	,	,	PUNCT
gujaf-378	124	3	we	we	PRON
gujaf-378	124	4	decided	decide	VERB
gujaf-378	124	5	to	to	PART
gujaf-378	124	6	retain	retain	VERB
gujaf-378	124	7	all	all	DET
gujaf-378	124	8	these	these	DET
gujaf-378	124	9	variables	variable	NOUN
gujaf-378	124	10	for	for	ADP
gujaf-378	124	11	regression	regression	NOUN
gujaf-378	124	12	analysis	analysis	NOUN
gujaf-378	124	13	.	.	PUNCT
gujaf-378	125	1	selecting	select	VERB
gujaf-378	125	2	the	the	DET
gujaf-378	125	3	appropriate	appropriate	ADJ
gujaf-378	125	4	model	model	NOUN
gujaf-378	125	5	we	we	PRON
gujaf-378	125	6	employed	employ	VERB
gujaf-378	125	7	a	a	DET
gujaf-378	125	8	two	two	NUM
gujaf-378	125	9	-	-	PUNCT
gujaf-378	125	10	stage	stage	NOUN
gujaf-378	125	11	model	model	NOUN
gujaf-378	125	12	selection	selection	NOUN
gujaf-378	125	13	approach	approach	NOUN
gujaf-378	125	14	for	for	ADP
gujaf-378	125	15	this	this	DET
gujaf-378	125	16	study	study	NOUN
gujaf-378	125	17	.	.	PUNCT
gujaf-378	126	1	first	first	ADV
gujaf-378	126	2	,	,	PUNCT
gujaf-378	126	3	we	we	PRON
gujaf-378	126	4	conducted	conduct	VERB
gujaf-378	126	5	the	the	DET
gujaf-378	126	6	breusch	breusch	NOUN
gujaf-378	126	7	-	-	PUNCT
gujaf-378	126	8	pagan	pagan	VERB
gujaf-378	126	9	lm	lm	INTJ
gujaf-378	126	10	test	test	NOUN
gujaf-378	126	11	.	.	PUNCT
gujaf-378	127	1	according	accord	VERB
gujaf-378	127	2	to	to	ADP
gujaf-378	127	3	the	the	DET
gujaf-378	127	4	result	result	NOUN
gujaf-378	127	5	(	(	PUNCT
gujaf-378	127	6	p<0.05	p<0.05	NOUN
gujaf-378	127	7	)	)	PUNCT
gujaf-378	127	8	,	,	PUNCT
gujaf-378	127	9	we	we	PRON
gujaf-378	127	10	reject	reject	VERB
gujaf-378	127	11	the	the	DET
gujaf-378	127	12	null	null	ADJ
gujaf-378	127	13	hypothesis	hypothesis	NOUN
gujaf-378	127	14	of	of	ADP
gujaf-378	127	15	no	no	DET
gujaf-378	127	16	panel	panel	NOUN
gujaf-378	127	17	effects	effect	NOUN
gujaf-378	127	18	,	,	PUNCT
gujaf-378	127	19	supporting	support	VERB
gujaf-378	127	20	the	the	DET
gujaf-378	127	21	application	application	NOUN
gujaf-378	127	22	of	of	ADP
gujaf-378	127	23	panel	panel	NOUN
gujaf-378	127	24	data	datum	NOUN
gujaf-378	127	25	methods	method	NOUN
gujaf-378	127	26	over	over	ADP
gujaf-378	127	27	pooled	pool	VERB
gujaf-378	127	28	ols	ol	NOUN
gujaf-378	127	29	.	.	PUNCT
gujaf-378	128	1	second	second	ADJ
gujaf-378	128	2	,	,	PUNCT
gujaf-378	128	3	we	we	PRON
gujaf-378	128	4	conducted	conduct	VERB
gujaf-378	128	5	the	the	DET
gujaf-378	128	6	hausman	hausman	ADJ
gujaf-378	128	7	test	test	NOUN
gujaf-378	128	8	,	,	PUNCT
gujaf-378	128	9	and	and	CCONJ
gujaf-378	128	10	the	the	DET
gujaf-378	128	11	result	result	NOUN
gujaf-378	128	12	(	(	PUNCT
gujaf-378	128	13	p<0.05	p<0.05	NOUN
gujaf-378	128	14	)	)	PUNCT
gujaf-378	128	15	showed	show	VERB
gujaf-378	128	16	us	we	PRON
gujaf-378	128	17	that	that	SCONJ
gujaf-378	128	18	the	the	DET
gujaf-378	128	19	fe	fe	PROPN
gujaf-378	128	20	model	model	NOUN
gujaf-378	128	21	implementation	implementation	NOUN
gujaf-378	128	22	is	be	AUX
gujaf-378	128	23	more	more	ADV
gujaf-378	128	24	suitable	suitable	ADJ
gujaf-378	128	25	than	than	ADP
gujaf-378	128	26	the	the	DET
gujaf-378	128	27	re	re	X
gujaf-378	128	28	model	model	NOUN
gujaf-378	128	29	implementation	implementation	NOUN
gujaf-378	128	30	.	.	PUNCT
gujaf-378	129	1	therefore	therefore	ADV
gujaf-378	129	2	,	,	PUNCT
gujaf-378	129	3	based	base	VERB
gujaf-378	129	4	on	on	ADP
gujaf-378	129	5	these	these	DET
gujaf-378	129	6	diagnostic	diagnostic	ADJ
gujaf-378	129	7	tests	test	NOUN
gujaf-378	129	8	we	we	PRON
gujaf-378	129	9	choose	choose	VERB
gujaf-378	129	10	fe	fe	NOUN
gujaf-378	129	11	for	for	ADP
gujaf-378	129	12	the	the	DET
gujaf-378	129	13	regression	regression	NOUN
gujaf-378	129	14	analysis	analysis	NOUN
gujaf-378	129	15	.	.	PUNCT
gujaf-378	130	1	table	table	NOUN
gujaf-378	130	2	5	5	NUM
gujaf-378	130	3	.	.	PUNCT
gujaf-378	130	4	breusch	breusch	PROPN
gujaf-378	130	5	and	and	CCONJ
gujaf-378	130	6	pagan	pagan	VERB
gujaf-378	130	7	lm	lm	INTJ
gujaf-378	130	8	,	,	PUNCT
gujaf-378	130	9	and	and	CCONJ
gujaf-378	130	10	hausman	hausman	PROPN
gujaf-378	130	11	tests	test	NOUN
gujaf-378	130	12	results	result	VERB
gujaf-378	130	13	test	test	VERB
gujaf-378	130	14	chi	chi	NOUN
gujaf-378	130	15	-	-	PUNCT
gujaf-378	130	16	sq	sq	PROPN
gujaf-378	130	17	.	.	PROPN
gujaf-378	130	18	statistic	statistic	PROPN
gujaf-378	130	19	p	p	NOUN
gujaf-378	130	20	-	-	PUNCT
gujaf-378	130	21	value	value	NOUN
gujaf-378	130	22	breusch	breusch	NOUN
gujaf-378	130	23	-	-	PUNCT
gujaf-378	130	24	pagan	pagan	VERB
gujaf-378	130	25	lm	lm	X
gujaf-378	130	26	678.00	678.00	NUM
gujaf-378	130	27	0.0000	0.0000	NUM
gujaf-378	130	28	hausman	hausman	NOUN
gujaf-378	130	29	86.5	86.5	NUM
gujaf-378	130	30	0.0000	0.0000	NUM
gujaf-378	130	31	source	source	NOUN
gujaf-378	130	32	:	:	PUNCT
gujaf-378	130	33	authors	author	NOUN
gujaf-378	130	34	’	’	PART
gujaf-378	130	35	computation	computation	NOUN
gujaf-378	130	36	test	test	NOUN
gujaf-378	130	37	for	for	ADP
gujaf-378	130	38	heteroscedasticity	heteroscedasticity	NOUN
gujaf-378	130	39	to	to	PART
gujaf-378	130	40	determine	determine	VERB
gujaf-378	130	41	whether	whether	SCONJ
gujaf-378	130	42	the	the	DET
gujaf-378	130	43	standard	standard	ADJ
gujaf-378	130	44	errors	error	NOUN
gujaf-378	130	45	of	of	ADP
gujaf-378	130	46	the	the	DET
gujaf-378	130	47	variables	variable	NOUN
gujaf-378	130	48	are	be	AUX
gujaf-378	130	49	heteroscedastic	heteroscedastic	ADJ
gujaf-378	130	50	or	or	CCONJ
gujaf-378	130	51	homoscedastic	homoscedastic	ADJ
gujaf-378	130	52	,	,	PUNCT
gujaf-378	130	53	we	we	PRON
gujaf-378	130	54	conducted	conduct	VERB
gujaf-378	130	55	the	the	DET
gujaf-378	130	56	modified	modified	ADJ
gujaf-378	130	57	wald	wald	NOUN
gujaf-378	130	58	test	test	NOUN
gujaf-378	130	59	.	.	PUNCT
gujaf-378	131	1	the	the	DET
gujaf-378	131	2	null	null	ADJ
gujaf-378	131	3	hypothesis	hypothesis	NOUN
gujaf-378	131	4	for	for	ADP
gujaf-378	131	5	this	this	DET
gujaf-378	131	6	test	test	NOUN
gujaf-378	131	7	posits	posit	NOUN
gujaf-378	131	8	that	that	SCONJ
gujaf-378	131	9	the	the	DET
gujaf-378	131	10	variances	variance	NOUN
gujaf-378	131	11	are	be	AUX
gujaf-378	131	12	constant	constant	ADJ
gujaf-378	131	13	(	(	PUNCT
gujaf-378	131	14	or	or	CCONJ
gujaf-378	131	15	homoscedastic	homoscedastic	ADJ
gujaf-378	131	16	)	)	PUNCT
gujaf-378	131	17	.	.	PUNCT
gujaf-378	132	1	gusau	gusau	PROPN
gujaf-378	132	2	journal	journal	PROPN
gujaf-378	132	3	of	of	ADP
gujaf-378	132	4	accounting	accounting	NOUN
gujaf-378	132	5	and	and	CCONJ
gujaf-378	132	6	finance	finance	NOUN
gujaf-378	132	7	,	,	PUNCT
gujaf-378	132	8	vol.6	vol.6	PROPN
gujaf-378	132	9	,	,	PUNCT
gujaf-378	132	10	issue	issue	NOUN
gujaf-378	132	11	1	1	NUM
gujaf-378	132	12	,	,	PUNCT
gujaf-378	132	13	april	april	PROPN
gujaf-378	132	14	,	,	PUNCT
gujaf-378	132	15	2025	2025	NUM
gujaf-378	132	16	197	197	NUM
gujaf-378	132	17	table	table	NOUN
gujaf-378	132	18	6	6	NUM
gujaf-378	132	19	.	.	PUNCT
gujaf-378	133	1	wald	wald	NOUN
gujaf-378	133	2	test	test	NOUN
gujaf-378	133	3	for	for	ADP
gujaf-378	133	4	heteroskedasticity	heteroskedasticity	NOUN
gujaf-378	133	5	test	test	NOUN
gujaf-378	133	6	chi	chi	ADJ
gujaf-378	133	7	-	-	PUNCT
gujaf-378	133	8	square	square	ADJ
gujaf-378	133	9	statistic	statistic	NOUN
gujaf-378	133	10	p	p	NOUN
gujaf-378	133	11	-	-	PUNCT
gujaf-378	133	12	value	value	NOUN
gujaf-378	133	13	modified	modify	VERB
gujaf-378	133	14	wald	wald	PROPN
gujaf-378	133	15	test	test	NOUN
gujaf-378	133	16	1.1e+05	1.1e+05	NUM
gujaf-378	133	17	0.0000	0.0000	NUM
gujaf-378	133	18	source	source	NOUN
gujaf-378	133	19	:	:	PUNCT
gujaf-378	133	20	authors	author	NOUN
gujaf-378	133	21	’	'	PUNCT
gujaf-378	133	22	computation	computation	NOUN
gujaf-378	133	23	as	as	ADP
gujaf-378	133	24	the	the	DET
gujaf-378	133	25	p	p	NOUN
gujaf-378	133	26	-	-	PUNCT
gujaf-378	133	27	value	value	NOUN
gujaf-378	133	28	is	be	AUX
gujaf-378	133	29	less	less	ADJ
gujaf-378	133	30	than	than	ADP
gujaf-378	133	31	the	the	DET
gujaf-378	133	32	critical	critical	ADJ
gujaf-378	133	33	value	value	NOUN
gujaf-378	133	34	(	(	PUNCT
gujaf-378	133	35	0.05	0.05	NUM
gujaf-378	133	36	)	)	PUNCT
gujaf-378	133	37	,	,	PUNCT
gujaf-378	133	38	we	we	PRON
gujaf-378	133	39	reject	reject	VERB
gujaf-378	133	40	the	the	DET
gujaf-378	133	41	null	null	ADJ
gujaf-378	133	42	hypothesis	hypothesis	NOUN
gujaf-378	133	43	and	and	CCONJ
gujaf-378	133	44	conclude	conclude	VERB
gujaf-378	133	45	that	that	SCONJ
gujaf-378	133	46	the	the	DET
gujaf-378	133	47	standard	standard	ADJ
gujaf-378	133	48	errors	error	NOUN
gujaf-378	133	49	are	be	AUX
gujaf-378	133	50	heteroscedastic	heteroscedastic	ADJ
gujaf-378	133	51	.	.	PUNCT
gujaf-378	134	1	to	to	PART
gujaf-378	134	2	address	address	VERB
gujaf-378	134	3	this	this	DET
gujaf-378	134	4	issue	issue	NOUN
gujaf-378	134	5	,	,	PUNCT
gujaf-378	134	6	we	we	PRON
gujaf-378	134	7	opted	opt	VERB
gujaf-378	134	8	to	to	PART
gujaf-378	134	9	employ	employ	VERB
gujaf-378	134	10	robust	robust	ADJ
gujaf-378	134	11	standard	standard	ADJ
gujaf-378	134	12	errors	error	NOUN
gujaf-378	134	13	when	when	SCONJ
gujaf-378	134	14	running	run	VERB
gujaf-378	134	15	regression	regression	NOUN
gujaf-378	134	16	.	.	PUNCT
gujaf-378	135	1	serial	serial	ADJ
gujaf-378	135	2	correlations	correlation	NOUN
gujaf-378	135	3	and	and	CCONJ
gujaf-378	135	4	cross	cross	ADJ
gujaf-378	135	5	-	-	ADJ
gujaf-378	135	6	sectional	sectional	ADJ
gujaf-378	135	7	dependency	dependency	NOUN
gujaf-378	135	8	tests	test	NOUN
gujaf-378	135	9	this	this	DET
gujaf-378	135	10	paper	paper	NOUN
gujaf-378	135	11	uses	use	VERB
gujaf-378	135	12	the	the	DET
gujaf-378	135	13	wooldridge	wooldridge	PROPN
gujaf-378	135	14	and	and	CCONJ
gujaf-378	135	15	friedman	friedman	PROPN
gujaf-378	135	16	test	test	NOUN
gujaf-378	135	17	to	to	PART
gujaf-378	135	18	check	check	VERB
gujaf-378	135	19	for	for	ADP
gujaf-378	135	20	serial	serial	ADJ
gujaf-378	135	21	correlation	correlation	NOUN
gujaf-378	135	22	and	and	CCONJ
gujaf-378	135	23	crosssection	crosssection	NOUN
gujaf-378	135	24	dependence	dependence	NOUN
gujaf-378	135	25	,	,	PUNCT
gujaf-378	135	26	respectively	respectively	ADV
gujaf-378	135	27	.	.	PUNCT
gujaf-378	136	1	the	the	DET
gujaf-378	136	2	wooldridge	wooldridge	PROPN
gujaf-378	136	3	test	test	NOUN
gujaf-378	136	4	tests	test	VERB
gujaf-378	136	5	for	for	ADP
gujaf-378	136	6	first	first	ADJ
gujaf-378	136	7	-	-	PUNCT
gujaf-378	136	8	order	order	NOUN
gujaf-378	136	9	autocorrelation	autocorrelation	NOUN
gujaf-378	136	10	in	in	ADP
gujaf-378	136	11	the	the	DET
gujaf-378	136	12	residuals	residual	NOUN
gujaf-378	136	13	(	(	PUNCT
gujaf-378	136	14	null	null	ADJ
gujaf-378	136	15	hypothesis	hypothesis	NOUN
gujaf-378	136	16	:	:	PUNCT
gujaf-378	136	17	no	no	DET
gujaf-378	136	18	autocorrelation	autocorrelation	NOUN
gujaf-378	136	19	)	)	PUNCT
gujaf-378	136	20	.	.	PUNCT
gujaf-378	137	1	a	a	DET
gujaf-378	137	2	significant	significant	ADJ
gujaf-378	137	3	result	result	NOUN
gujaf-378	137	4	(	(	PUNCT
gujaf-378	137	5	p<0.05	p<0.05	NOUN
gujaf-378	137	6	)	)	PUNCT
gujaf-378	137	7	suggests	suggest	VERB
gujaf-378	137	8	that	that	SCONJ
gujaf-378	137	9	the	the	DET
gujaf-378	137	10	estimators	estimator	NOUN
gujaf-378	137	11	are	be	AUX
gujaf-378	137	12	biased	bias	VERB
gujaf-378	137	13	and	and	CCONJ
gujaf-378	137	14	need	need	VERB
gujaf-378	137	15	to	to	PART
gujaf-378	137	16	be	be	AUX
gujaf-378	137	17	adjusted	adjust	VERB
gujaf-378	137	18	,	,	PUNCT
gujaf-378	137	19	such	such	ADJ
gujaf-378	137	20	as	as	ADP
gujaf-378	137	21	in	in	ADP
gujaf-378	137	22	clustered	clustered	ADJ
gujaf-378	137	23	standard	standard	ADJ
gujaf-378	137	24	errors	error	NOUN
gujaf-378	137	25	or	or	CCONJ
gujaf-378	137	26	fgls	fgls	NOUN
gujaf-378	137	27	.	.	PUNCT
gujaf-378	138	1	the	the	DET
gujaf-378	138	2	friedman	friedman	PROPN
gujaf-378	138	3	test	test	NOUN
gujaf-378	138	4	tests	test	NOUN
gujaf-378	138	5	for	for	ADP
gujaf-378	138	6	the	the	DET
gujaf-378	138	7	cross	cross	ADJ
gujaf-378	138	8	-	-	ADJ
gujaf-378	138	9	sectional	sectional	ADJ
gujaf-378	138	10	dependence	dependence	NOUN
gujaf-378	138	11	(	(	PUNCT
gujaf-378	138	12	null	null	ADJ
gujaf-378	138	13	hypothesis	hypothesis	NOUN
gujaf-378	138	14	:	:	PUNCT
gujaf-378	138	15	independent	independent	ADJ
gujaf-378	138	16	residuals	residual	NOUN
gujaf-378	138	17	)	)	PUNCT
gujaf-378	138	18	.	.	PUNCT
gujaf-378	139	1	rejection	rejection	NOUN
gujaf-378	139	2	(	(	PUNCT
gujaf-378	139	3	p<0.05	p<0.05	NOUN
gujaf-378	139	4	)	)	PUNCT
gujaf-378	139	5	indicates	indicate	VERB
gujaf-378	139	6	potential	potential	ADJ
gujaf-378	139	7	bias	bias	NOUN
gujaf-378	139	8	and	and	CCONJ
gujaf-378	139	9	the	the	DET
gujaf-378	139	10	need	need	NOUN
gujaf-378	139	11	to	to	PART
gujaf-378	139	12	use	use	VERB
gujaf-378	139	13	methods	method	NOUN
gujaf-378	139	14	such	such	ADJ
gujaf-378	139	15	as	as	ADP
gujaf-378	139	16	pcse	pcse	NOUN
gujaf-378	139	17	or	or	CCONJ
gujaf-378	139	18	spatial	spatial	ADJ
gujaf-378	139	19	models	model	NOUN
gujaf-378	139	20	.	.	PUNCT
gujaf-378	140	1	the	the	DET
gujaf-378	140	2	two	two	NUM
gujaf-378	140	3	tests	test	NOUN
gujaf-378	140	4	validate	validate	VERB
gujaf-378	140	5	the	the	DET
gujaf-378	140	6	regression	regression	NOUN
gujaf-378	140	7	estimators	estimator	NOUN
gujaf-378	140	8	.	.	PUNCT
gujaf-378	141	1	table	table	NOUN
gujaf-378	141	2	7	7	NUM
gujaf-378	141	3	.	.	PUNCT
gujaf-378	141	4	wooldridge	wooldridge	PROPN
gujaf-378	141	5	test	test	PROPN
gujaf-378	141	6	and	and	CCONJ
gujaf-378	141	7	friedman	friedman	PROPN
gujaf-378	141	8	test	test	PROPN
gujaf-378	141	9	results	result	NOUN
gujaf-378	141	10	test	test	VERB
gujaf-378	141	11	f	f	NOUN
gujaf-378	141	12	-	-	PUNCT
gujaf-378	141	13	statistic	statistic	ADJ
gujaf-378	141	14	p	p	NOUN
gujaf-378	141	15	-	-	PUNCT
gujaf-378	141	16	value	value	NOUN
gujaf-378	141	17	wooldridge	wooldridge	PROPN
gujaf-378	141	18	test	test	NOUN
gujaf-378	141	19	1.326	1.326	NUM
gujaf-378	141	20	0.252	0.252	NUM
gujaf-378	141	21	friedman	friedman	NOUN
gujaf-378	141	22	test	test	NOUN
gujaf-378	141	23	31.904	31.904	NUM
gujaf-378	141	24	0.9834	0.9834	NUM
gujaf-378	141	25	source	source	NOUN
gujaf-378	141	26	:	:	PUNCT
gujaf-378	141	27	authors	author	NOUN
gujaf-378	141	28	’	'	PUNCT
gujaf-378	141	29	computation	computation	NOUN
gujaf-378	141	30	as	as	SCONJ
gujaf-378	141	31	shown	show	VERB
gujaf-378	141	32	in	in	ADP
gujaf-378	141	33	table	table	NOUN
gujaf-378	141	34	7	7	NUM
gujaf-378	141	35	,	,	PUNCT
gujaf-378	141	36	the	the	DET
gujaf-378	141	37	p	p	NOUN
gujaf-378	141	38	-	-	PUNCT
gujaf-378	141	39	values	value	NOUN
gujaf-378	141	40	>	>	X
gujaf-378	141	41	0.05	0.05	NUM
gujaf-378	141	42	of	of	ADP
gujaf-378	141	43	both	both	DET
gujaf-378	141	44	tests	test	NOUN
gujaf-378	141	45	show	show	VERB
gujaf-378	141	46	that	that	SCONJ
gujaf-378	141	47	the	the	DET
gujaf-378	141	48	regression	regression	NOUN
gujaf-378	141	49	model	model	NOUN
gujaf-378	141	50	does	do	AUX
gujaf-378	141	51	not	not	PART
gujaf-378	141	52	have	have	VERB
gujaf-378	141	53	serial	serial	ADJ
gujaf-378	141	54	correlation	correlation	NOUN
gujaf-378	141	55	and	and	CCONJ
gujaf-378	141	56	cross	cross	ADJ
gujaf-378	141	57	-	-	ADJ
gujaf-378	141	58	sectional	sectional	ADJ
gujaf-378	141	59	dependence	dependence	NOUN
gujaf-378	141	60	issues	issue	NOUN
gujaf-378	141	61	.	.	PUNCT
gujaf-378	142	1	unit	unit	NOUN
gujaf-378	142	2	root	root	PROPN
gujaf-378	142	3	test	test	NOUN
gujaf-378	142	4	as	as	SCONJ
gujaf-378	142	5	the	the	DET
gujaf-378	142	6	non	non	ADJ
gujaf-378	142	7	-	-	ADJ
gujaf-378	142	8	stationary	stationary	ADJ
gujaf-378	142	9	data	datum	NOUN
gujaf-378	142	10	can	can	AUX
gujaf-378	142	11	induce	induce	VERB
gujaf-378	142	12	spurious	spurious	ADJ
gujaf-378	142	13	regression	regression	NOUN
gujaf-378	142	14	,	,	PUNCT
gujaf-378	142	15	we	we	PRON
gujaf-378	142	16	conduct	conduct	VERB
gujaf-378	142	17	the	the	DET
gujaf-378	142	18	fisher	fisher	NOUN
gujaf-378	142	19	-	-	PUNCT
gujaf-378	142	20	type	type	NOUN
gujaf-378	142	21	panel	panel	NOUN
gujaf-378	142	22	unit	unit	NOUN
gujaf-378	142	23	root	root	PROPN
gujaf-378	142	24	test	test	NOUN
gujaf-378	142	25	which	which	PRON
gujaf-378	142	26	aggregates	aggregate	VERB
gujaf-378	142	27	p	p	NOUN
gujaf-378	142	28	-	-	PUNCT
gujaf-378	142	29	values	value	NOUN
gujaf-378	142	30	from	from	ADP
gujaf-378	142	31	adf	adf	PROPN
gujaf-378	142	32	tests	test	NOUN
gujaf-378	142	33	across	across	ADP
gujaf-378	142	34	cross	cross	NOUN
gujaf-378	142	35	-	-	NOUN
gujaf-378	142	36	sections	section	NOUN
gujaf-378	142	37	.	.	PUNCT
gujaf-378	143	1	the	the	DET
gujaf-378	143	2	test	test	NOUN
gujaf-378	143	3	’s	’s	PART
gujaf-378	143	4	null	null	ADJ
gujaf-378	143	5	hypothesis	hypothesis	NOUN
gujaf-378	143	6	is	be	AUX
gujaf-378	143	7	that	that	SCONJ
gujaf-378	143	8	all	all	DET
gujaf-378	143	9	the	the	DET
gujaf-378	143	10	different	different	ADJ
gujaf-378	143	11	panels	panel	NOUN
gujaf-378	143	12	have	have	VERB
gujaf-378	143	13	unit	unit	NOUN
gujaf-378	143	14	roots	root	NOUN
gujaf-378	143	15	.	.	PUNCT
gujaf-378	144	1	as	as	SCONJ
gujaf-378	144	2	shown	show	VERB
gujaf-378	144	3	in	in	ADP
gujaf-378	144	4	table	table	NOUN
gujaf-378	144	5	8	8	NUM
gujaf-378	144	6	,	,	PUNCT
gujaf-378	144	7	the	the	DET
gujaf-378	144	8	p	p	NOUN
gujaf-378	144	9	-	-	PUNCT
gujaf-378	144	10	values	value	NOUN
gujaf-378	144	11	for	for	ADP
gujaf-378	144	12	all	all	DET
gujaf-378	144	13	variables	variable	NOUN
gujaf-378	144	14	is	be	AUX
gujaf-378	144	15	less	less	ADJ
gujaf-378	144	16	than	than	ADP
gujaf-378	144	17	,	,	PUNCT
gujaf-378	144	18	we	we	PRON
gujaf-378	144	19	reject	reject	VERB
gujaf-378	144	20	the	the	DET
gujaf-378	144	21	null	null	ADJ
gujaf-378	144	22	hypotheses	hypothesis	NOUN
gujaf-378	144	23	for	for	ADP
gujaf-378	144	24	all	all	DET
gujaf-378	144	25	the	the	DET
gujaf-378	144	26	variables	variable	NOUN
gujaf-378	144	27	and	and	CCONJ
gujaf-378	144	28	conclude	conclude	VERB
gujaf-378	144	29	that	that	SCONJ
gujaf-378	144	30	all	all	DET
gujaf-378	144	31	the	the	DET
gujaf-378	144	32	variables	variable	NOUN
gujaf-378	144	33	are	be	AUX
gujaf-378	144	34	stationary	stationary	ADJ
gujaf-378	144	35	at	at	ADP
gujaf-378	144	36	level	level	NOUN
gujaf-378	144	37	.	.	PUNCT
gujaf-378	145	1	table	table	NOUN
gujaf-378	145	2	8	8	NUM
gujaf-378	145	3	.	.	PUNCT
gujaf-378	145	4	fisher	fisher	NOUN
gujaf-378	145	5	-	-	PUNCT
gujaf-378	145	6	type	type	NOUN
gujaf-378	145	7	unit	unit	NOUN
gujaf-378	145	8	root	root	NOUN
gujaf-378	145	9	test	test	NOUN
gujaf-378	145	10	result	result	VERB
gujaf-378	145	11	variable	variable	ADJ
gujaf-378	145	12	inverse	inverse	NOUN
gujaf-378	145	13	chi	chi	NOUN
gujaf-378	145	14	-	-	PUNCT
gujaf-378	145	15	squared	square	VERB
gujaf-378	145	16	(	(	PUNCT
gujaf-378	145	17	p	p	NOUN
gujaf-378	145	18	)	)	PUNCT
gujaf-378	145	19	p	p	ADJ
gujaf-378	145	20	-	-	PUNCT
gujaf-378	145	21	value	value	NOUN
gujaf-378	145	22	modified	modify	VERB
gujaf-378	145	23	inv	inv	NOUN
gujaf-378	145	24	.	.	PUNCT
gujaf-378	146	1	chi	chi	NOUN
gujaf-378	146	2	-	-	PUNCT
gujaf-378	146	3	squared	square	VERB
gujaf-378	146	4	(	(	PUNCT
gujaf-378	146	5	pm	pm	NOUN
gujaf-378	146	6	)	)	PUNCT
gujaf-378	146	7	p	p	NOUN
gujaf-378	146	8	-	-	PUNCT
gujaf-378	146	9	value	value	NOUN
gujaf-378	146	10	lnmps	lnmp	VERB
gujaf-378	146	11	333.9185	333.9185	NUM
gujaf-378	146	12	0.0000	0.0000	NUM
gujaf-378	146	13	15.9420	15.9420	NUM
gujaf-378	146	14	0.0000	0.0000	NUM
gujaf-378	146	15	lneps	lnep	VERB
gujaf-378	146	16	189.8902	189.8902	NUM
gujaf-378	146	17	0.0000	0.0000	NUM
gujaf-378	146	18	5.9554	5.9554	NUM
gujaf-378	146	19	0.0000	0.0000	NUM
gujaf-378	146	20	gusau	gusau	ADJ
gujaf-378	146	21	journal	journal	NOUN
gujaf-378	146	22	of	of	ADP
gujaf-378	146	23	accounting	accounting	NOUN
gujaf-378	146	24	and	and	CCONJ
gujaf-378	146	25	finance	finance	NOUN
gujaf-378	146	26	,	,	PUNCT
gujaf-378	146	27	vol.6	vol.6	PROPN
gujaf-378	146	28	,	,	PUNCT
gujaf-378	146	29	issue	issue	NOUN
gujaf-378	146	30	1	1	NUM
gujaf-378	146	31	,	,	PUNCT
gujaf-378	146	32	april	april	PROPN
gujaf-378	146	33	,	,	PUNCT
gujaf-378	146	34	2025	2025	NUM
gujaf-378	146	35	198	198	NUM
gujaf-378	146	36	lndps	lndps	NOUN
gujaf-378	146	37	146.2693	146.2693	NUM
gujaf-378	146	38	0.0040	0.0040	NUM
gujaf-378	146	39	2.9309	2.9309	NUM
gujaf-378	146	40	0.0017	0.0017	NUM
gujaf-378	146	41	lnocf	lnocf	NOUN
gujaf-378	146	42	210.3306	210.3306	NUM
gujaf-378	146	43	0.0000	0.0000	NUM
gujaf-378	146	44	7.3727	7.3727	NUM
gujaf-378	146	45	0.0000	0.0000	NUM
gujaf-378	146	46	lntas	lnta	NOUN
gujaf-378	146	47	199.7169	199.7169	NUM
gujaf-378	146	48	0.0000	0.0000	NUM
gujaf-378	146	49	6.6368	6.6368	NUM
gujaf-378	146	50	0.0000	0.0000	NUM
gujaf-378	146	51	source	source	NOUN
gujaf-378	146	52	:	:	PUNCT
gujaf-378	146	53	authors	author	NOUN
gujaf-378	146	54	’	’	PART
gujaf-378	146	55	computation	computation	NOUN
gujaf-378	146	56	test	test	NOUN
gujaf-378	146	57	for	for	ADP
gujaf-378	146	58	need	need	NOUN
gujaf-378	146	59	of	of	ADP
gujaf-378	146	60	time	time	NOUN
gujaf-378	146	61	fixed	fix	VERB
gujaf-378	146	62	effects	effect	NOUN
gujaf-378	146	63	to	to	PART
gujaf-378	146	64	decide	decide	VERB
gujaf-378	146	65	whether	whether	SCONJ
gujaf-378	146	66	time	time	NOUN
gujaf-378	146	67	effects	effect	NOUN
gujaf-378	146	68	were	be	AUX
gujaf-378	146	69	necessary	necessary	ADJ
gujaf-378	146	70	in	in	ADP
gujaf-378	146	71	our	our	PRON
gujaf-378	146	72	fixed	fix	VERB
gujaf-378	146	73	effects	effect	NOUN
gujaf-378	146	74	model	model	NOUN
gujaf-378	146	75	,	,	PUNCT
gujaf-378	146	76	we	we	PRON
gujaf-378	146	77	performed	perform	VERB
gujaf-378	146	78	a	a	DET
gujaf-378	146	79	joint	joint	ADJ
gujaf-378	146	80	significance	significance	NOUN
gujaf-378	146	81	test	test	NOUN
gujaf-378	146	82	of	of	ADP
gujaf-378	146	83	year	year	NOUN
gujaf-378	146	84	coefficients	coefficient	NOUN
gujaf-378	146	85	using	use	VERB
gujaf-378	146	86	the	the	DET
gujaf-378	146	87	stata	stata	NOUN
gujaf-378	146	88	command	command	NOUN
gujaf-378	146	89	“	"	PUNCT
gujaf-378	146	90	testparm	testparm	NOUN
gujaf-378	146	91	”	"	PUNCT
gujaf-378	146	92	.	.	PUNCT
gujaf-378	147	1	based	base	VERB
gujaf-378	147	2	on	on	ADP
gujaf-378	147	3	the	the	DET
gujaf-378	147	4	result	result	NOUN
gujaf-378	147	5	,	,	PUNCT
gujaf-378	147	6	we	we	PRON
gujaf-378	147	7	rejected	reject	VERB
gujaf-378	147	8	the	the	DET
gujaf-378	147	9	null	null	ADJ
gujaf-378	147	10	hypothesis	hypothesis	NOUN
gujaf-378	147	11	of	of	ADP
gujaf-378	147	12	no	no	DET
gujaf-378	147	13	fixed	fix	VERB
gujaf-378	147	14	time	time	NOUN
gujaf-378	147	15	effects	effect	NOUN
gujaf-378	147	16	(	(	PUNCT
gujaf-378	147	17	p	p	X
gujaf-378	147	18	<	<	X
gujaf-378	147	19	0.05	0.05	NUM
gujaf-378	147	20	)	)	PUNCT
gujaf-378	147	21	,	,	PUNCT
gujaf-378	147	22	indicating	indicate	VERB
gujaf-378	147	23	that	that	SCONJ
gujaf-378	147	24	it	it	PRON
gujaf-378	147	25	is	be	AUX
gujaf-378	147	26	appropriate	appropriate	ADJ
gujaf-378	147	27	to	to	PART
gujaf-378	147	28	control	control	VERB
gujaf-378	147	29	for	for	ADP
gujaf-378	147	30	time	time	NOUN
gujaf-378	147	31	effects	effect	NOUN
gujaf-378	147	32	in	in	ADP
gujaf-378	147	33	our	our	PRON
gujaf-378	147	34	specification	specification	NOUN
gujaf-378	147	35	.	.	PUNCT
gujaf-378	148	1	this	this	DET
gujaf-378	148	2	result	result	NOUN
gujaf-378	148	3	indicates	indicate	VERB
gujaf-378	148	4	that	that	SCONJ
gujaf-378	148	5	macroeconomic	macroeconomic	ADJ
gujaf-378	148	6	factors	factor	NOUN
gujaf-378	148	7	or	or	CCONJ
gujaf-378	148	8	time	time	NOUN
gujaf-378	148	9	effects	effect	NOUN
gujaf-378	148	10	also	also	ADV
gujaf-378	148	11	substantially	substantially	ADV
gujaf-378	148	12	affect	affect	VERB
gujaf-378	148	13	our	our	PRON
gujaf-378	148	14	dependent	dependent	ADJ
gujaf-378	148	15	variable	variable	NOUN
gujaf-378	148	16	and	and	CCONJ
gujaf-378	148	17	should	should	AUX
gujaf-378	148	18	be	be	AUX
gujaf-378	148	19	explicitly	explicitly	ADV
gujaf-378	148	20	included	include	VERB
gujaf-378	148	21	in	in	ADP
gujaf-378	148	22	our	our	PRON
gujaf-378	148	23	regression	regression	NOUN
gujaf-378	148	24	model	model	NOUN
gujaf-378	148	25	.	.	PUNCT
gujaf-378	149	1	table	table	NOUN
gujaf-378	149	2	9	9	NUM
gujaf-378	149	3	.	.	PUNCT
gujaf-378	149	4	test	test	NOUN
gujaf-378	149	5	for	for	ADP
gujaf-378	149	6	the	the	DET
gujaf-378	149	7	need	need	NOUN
gujaf-378	149	8	of	of	ADP
gujaf-378	149	9	time	time	NOUN
gujaf-378	149	10	fixed	fix	VERB
gujaf-378	149	11	effects	effect	NOUN
gujaf-378	149	12	when	when	SCONJ
gujaf-378	149	13	running	run	VERB
gujaf-378	149	14	fe	fe	NOUN
gujaf-378	149	15	test	test	NOUN
gujaf-378	149	16	f	f	NOUN
gujaf-378	149	17	-	-	PUNCT
gujaf-378	149	18	statistic	statistic	ADJ
gujaf-378	149	19	(	(	PUNCT
gujaf-378	149	20	6	6	NUM
gujaf-378	149	21	,	,	PUNCT
gujaf-378	149	22	51	51	NUM
gujaf-378	149	23	)	)	PUNCT
gujaf-378	149	24	prob	prob	NOUN
gujaf-378	149	25	>	>	X
gujaf-378	149	26	chi2	chi2	PROPN
gujaf-378	149	27	testparm	testparm	NOUN
gujaf-378	149	28	10.02	10.02	NUM
gujaf-378	149	29	0.0000	0.0000	NUM
gujaf-378	149	30	source	source	NOUN
gujaf-378	149	31	:	:	PUNCT
gujaf-378	149	32	authors	author	NOUN
gujaf-378	149	33	’	'	PUNCT
gujaf-378	149	34	computation	computation	NOUN
gujaf-378	149	35	fixed	fix	VERB
gujaf-378	149	36	effects	effect	NOUN
gujaf-378	149	37	regression	regression	VERB
gujaf-378	149	38	analysis	analysis	NOUN
gujaf-378	149	39	based	base	VERB
gujaf-378	149	40	on	on	ADP
gujaf-378	149	41	the	the	DET
gujaf-378	149	42	diagnostic	diagnostic	ADJ
gujaf-378	149	43	tests	test	NOUN
gujaf-378	149	44	conducted	conduct	VERB
gujaf-378	149	45	in	in	ADP
gujaf-378	149	46	the	the	DET
gujaf-378	149	47	previous	previous	ADJ
gujaf-378	149	48	section	section	NOUN
gujaf-378	149	49	,	,	PUNCT
gujaf-378	149	50	we	we	PRON
gujaf-378	149	51	conduct	conduct	VERB
gujaf-378	149	52	fe	fe	NOUN
gujaf-378	149	53	regression	regression	NOUN
gujaf-378	149	54	to	to	PART
gujaf-378	149	55	test	test	VERB
gujaf-378	149	56	our	our	PRON
gujaf-378	149	57	hypotheses	hypothesis	NOUN
gujaf-378	149	58	.	.	PUNCT
gujaf-378	150	1	the	the	DET
gujaf-378	150	2	regression	regression	NOUN
gujaf-378	150	3	results	result	NOUN
gujaf-378	150	4	are	be	AUX
gujaf-378	150	5	presented	present	VERB
gujaf-378	150	6	in	in	ADP
gujaf-378	150	7	table	table	NOUN
gujaf-378	150	8	10	10	NUM
gujaf-378	150	9	.	.	PUNCT
gujaf-378	151	1	the	the	DET
gujaf-378	151	2	standard	standard	ADJ
gujaf-378	151	3	errors	error	NOUN
gujaf-378	151	4	are	be	AUX
gujaf-378	151	5	clustered	cluster	VERB
gujaf-378	151	6	by	by	ADP
gujaf-378	151	7	firm	firm	PROPN
gujaf-378	151	8	i	i	PROPN
gujaf-378	151	9	d	d	PROPN
gujaf-378	151	10	,	,	PUNCT
gujaf-378	151	11	with	with	ADP
gujaf-378	151	12	52	52	NUM
gujaf-378	151	13	clusters	cluster	NOUN
gujaf-378	151	14	,	,	PUNCT
gujaf-378	151	15	to	to	PART
gujaf-378	151	16	account	account	VERB
gujaf-378	151	17	for	for	ADP
gujaf-378	151	18	potential	potential	ADJ
gujaf-378	151	19	heteroscedasticity	heteroscedasticity	NOUN
gujaf-378	151	20	and	and	CCONJ
gujaf-378	151	21	withincluster	withincluster	NOUN
gujaf-378	151	22	correlation	correlation	NOUN
gujaf-378	151	23	,	,	PUNCT
gujaf-378	151	24	and	and	CCONJ
gujaf-378	151	25	the	the	DET
gujaf-378	151	26	statistical	statistical	ADJ
gujaf-378	151	27	significance	significance	NOUN
gujaf-378	151	28	of	of	ADP
gujaf-378	151	29	the	the	DET
gujaf-378	151	30	coefficients	coefficient	NOUN
gujaf-378	151	31	is	be	AUX
gujaf-378	151	32	denoted	denote	VERB
gujaf-378	151	33	by	by	ADP
gujaf-378	151	34	*	*	PROPN
gujaf-378	151	35	*	*	PUNCT
gujaf-378	151	36	*	*	NOUN
gujaf-378	151	37	,	,	PUNCT
gujaf-378	151	38	*	*	PUNCT
gujaf-378	151	39	*	*	PUNCT
gujaf-378	151	40	,	,	PUNCT
gujaf-378	151	41	and	and	CCONJ
gujaf-378	151	42	*	*	PUNCT
gujaf-378	151	43	for	for	ADP
gujaf-378	151	44	1	1	NUM
gujaf-378	151	45	%	%	NOUN
gujaf-378	151	46	,	,	PUNCT
gujaf-378	151	47	5	5	NUM
gujaf-378	151	48	%	%	NOUN
gujaf-378	151	49	,	,	PUNCT
gujaf-378	151	50	and	and	CCONJ
gujaf-378	151	51	10	10	NUM
gujaf-378	151	52	%	%	NOUN
gujaf-378	151	53	level	level	NOUN
gujaf-378	151	54	,	,	PUNCT
gujaf-378	151	55	respectively	respectively	ADV
gujaf-378	151	56	.	.	PUNCT
gujaf-378	152	1	table	table	NOUN
gujaf-378	152	2	10	10	NUM
gujaf-378	152	3	.	.	PUNCT
gujaf-378	153	1	fixed	fix	VERB
gujaf-378	153	2	effects	effect	NOUN
gujaf-378	153	3	regression	regression	NOUN
gujaf-378	153	4	result	result	VERB
gujaf-378	153	5	regressor	regressor	PROPN
gujaf-378	153	6	coeff	coeff	PROPN
gujaf-378	153	7	.	.	PUNCT
gujaf-378	154	1	std.err	std.err	PROPN
gujaf-378	154	2	.	.	PUNCT
gujaf-378	155	1	t	t	NOUN
gujaf-378	155	2	-	-	PUNCT
gujaf-378	155	3	stat	stat	NOUN
gujaf-378	155	4	p	p	NOUN
gujaf-378	155	5	-	-	PUNCT
gujaf-378	155	6	value	value	NOUN
gujaf-378	155	7	[	[	X
gujaf-378	155	8	95	95	NUM
gujaf-378	155	9	%	%	NOUN
gujaf-378	155	10	conff	conff	NOUN
gujaf-378	155	11	.	.	PUNCT
gujaf-378	156	1	interval	interval	NOUN
gujaf-378	156	2	]	]	PUNCT
gujaf-378	156	3	sign	sign	NOUN
gujaf-378	156	4	lneps	lnep	VERB
gujaf-378	156	5	.137	.137	NUM
gujaf-378	156	6	.054	.054	NUM
gujaf-378	157	1	2.55	2.55	NUM
gujaf-378	157	2	.014	.014	NUM
gujaf-378	157	3	.029	.029	NUM
gujaf-378	157	4	.245	.245	NUM
gujaf-378	157	5	*	*	PUNCT
gujaf-378	157	6	*	*	PUNCT
gujaf-378	157	7	lndps	lndps	PROPN
gujaf-378	157	8	.331	.331	NUM
gujaf-378	157	9	.076	.076	NUM
gujaf-378	157	10	4.36	4.36	NUM
gujaf-378	157	11	.000	.000	NUM
gujaf-378	157	12	.179	.179	NUM
gujaf-378	157	13	.484	.484	NUM
gujaf-378	158	1	*	*	PUNCT
gujaf-378	158	2	*	*	PUNCT
gujaf-378	158	3	*	*	PUNCT
gujaf-378	158	4	lnocf	lnocf	PROPN
gujaf-378	158	5	.010	.010	NUM
gujaf-378	158	6	.018	.018	NUM
gujaf-378	158	7	0.53	0.53	NUM
gujaf-378	158	8	.600	.600	NUM
gujaf-378	158	9	-.027	-.027	PROPN
gujaf-378	158	10	.047	.047	NUM
gujaf-378	158	11	lntas	lntas	PROPN
gujaf-378	158	12	.013	.013	NUM
gujaf-378	158	13	.06	.06	NUM
gujaf-378	158	14	0.21	0.21	NUM
gujaf-378	158	15	.833	.833	NUM
gujaf-378	158	16	-.108	-.108	ADP
gujaf-378	158	17	.133	.133	NUM
gujaf-378	158	18	2016b	2016b	NUM
gujaf-378	158	19	0	0	PUNCT
gujaf-378	158	20	.	.	PUNCT
gujaf-378	158	21	.	.	PUNCT
gujaf-378	158	22	.	.	PUNCT
gujaf-378	158	23	.	.	PUNCT
gujaf-378	159	1	.	.	PUNCT
gujaf-378	160	1	2017	2017	NUM
gujaf-378	160	2	.115	.115	NUM
gujaf-378	160	3	.067	.067	NUM
gujaf-378	161	1	1.73	1.73	NUM
gujaf-378	161	2	.089	.089	NUM
gujaf-378	162	1	-.018	-.018	X
gujaf-378	162	2	.249	.249	NUM
gujaf-378	162	3	*	*	SYM
gujaf-378	162	4	2018	2018	NUM
gujaf-378	162	5	-.138	-.138	PROPN
gujaf-378	162	6	.064	.064	NUM
gujaf-378	163	1	-2.16	-2.16	PROPN
gujaf-378	163	2	.035	.035	NUM
gujaf-378	163	3	-.265	-.265	PROPN
gujaf-378	163	4	-.01	-.01	PROPN
gujaf-378	163	5	*	*	PROPN
gujaf-378	163	6	*	*	PROPN
gujaf-378	163	7	2019	2019	NUM
gujaf-378	163	8	-.307	-.307	ADP
gujaf-378	163	9	.075	.075	NUM
gujaf-378	163	10	-4.07	-4.07	NUM
gujaf-378	163	11	.000	.000	NUM
gujaf-378	163	12	-.459	-.459	PROPN
gujaf-378	163	13	-.156	-.156	INTJ
gujaf-378	164	1	*	*	PUNCT
gujaf-378	164	2	*	*	PUNCT
gujaf-378	164	3	*	*	PUNCT
gujaf-378	164	4	2020	2020	NUM
gujaf-378	164	5	-.347	-.347	PROPN
gujaf-378	164	6	.079	.079	NUM
gujaf-378	164	7	-4.38	-4.38	NOUN
gujaf-378	164	8	.000	.000	NUM
gujaf-378	164	9	-.506	-.506	NOUN
gujaf-378	164	10	-.188	-.188	NOUN
gujaf-378	164	11	*	*	PUNCT
gujaf-378	165	1	*	*	PUNCT
gujaf-378	165	2	*	*	X
gujaf-378	165	3	2021	2021	NUM
gujaf-378	165	4	-.429	-.429	PROPN
gujaf-378	165	5	.089	.089	NOUN
gujaf-378	166	1	-4.83	-4.83	PROPN
gujaf-378	166	2	.000	.000	NUM
gujaf-378	166	3	-.607	-.607	ADJ
gujaf-378	166	4	-.251	-.251	NOUN
gujaf-378	166	5	*	*	PUNCT
gujaf-378	166	6	*	*	PUNCT
gujaf-378	166	7	*	*	SYM
gujaf-378	166	8	2022	2022	NUM
gujaf-378	166	9	-.547	-.547	NOUN
gujaf-378	166	10	.091	.091	NUM
gujaf-378	166	11	-6.00	-6.00	NUM
gujaf-378	166	12	.000	.000	NUM
gujaf-378	167	1	-.729	-.729	VERB
gujaf-378	167	2	-.364	-.364	ADP
gujaf-378	167	3	*	*	PUNCT
gujaf-378	167	4	*	*	PUNCT
gujaf-378	167	5	*	*	PUNCT
gujaf-378	167	6	2023	2023	NUM
gujaf-378	167	7	-.519	-.519	NOUN
gujaf-378	167	8	.094	.094	NUM
gujaf-378	167	9	-5.55	-5.55	NUM
gujaf-378	167	10	.000	.000	NUM
gujaf-378	168	1	-.707	-.707	PRON
gujaf-378	168	2	-.332	-.332	NOUN
gujaf-378	168	3	*	*	PUNCT
gujaf-378	168	4	*	*	PUNCT
gujaf-378	168	5	*	*	PUNCT
gujaf-378	168	6	constant	constant	ADJ
gujaf-378	168	7	2.151	2.151	NUM
gujaf-378	168	8	1.532	1.532	NUM
gujaf-378	168	9	1.40	1.40	NUM
gujaf-378	168	10	.166	.166	NUM
gujaf-378	168	11	-.924	-.924	PROPN
gujaf-378	168	12	5.226	5.226	NUM
gujaf-378	168	13	mean	mean	NOUN
gujaf-378	168	14	dependent	dependent	ADJ
gujaf-378	168	15	var	var	NOUN
gujaf-378	168	16	.	.	PUNCT
gujaf-378	169	1	2.882	2.882	NUM
gujaf-378	169	2	sd	sd	ADP
gujaf-378	169	3	dependent	dependent	ADJ
gujaf-378	169	4	var	var	NOUN
gujaf-378	169	5	.	.	PUNCT
gujaf-378	170	1	1.491	1.491	NUM
gujaf-378	170	2	r	r	NOUN
gujaf-378	170	3	-	-	PUNCT
gujaf-378	170	4	squared	square	VERB
gujaf-378	170	5	0.471	0.471	NUM
gujaf-378	170	6	number	number	NOUN
gujaf-378	170	7	of	of	ADP
gujaf-378	170	8	obs	obs	PROPN
gujaf-378	170	9	.	.	PUNCT
gujaf-378	171	1	392	392	NUM
gujaf-378	171	2	f	f	X
gujaf-378	171	3	-	-	PUNCT
gujaf-378	171	4	test	test	NOUN
gujaf-378	171	5	9.086	9.086	NUM
gujaf-378	171	6	prob	prob	NOUN
gujaf-378	171	7	>	>	X
gujaf-378	171	8	f	f	PROPN
gujaf-378	171	9	0.000	0.000	NUM
gujaf-378	171	10	gusau	gusau	ADJ
gujaf-378	171	11	journal	journal	NOUN
gujaf-378	171	12	of	of	ADP
gujaf-378	171	13	accounting	accounting	NOUN
gujaf-378	171	14	and	and	CCONJ
gujaf-378	171	15	finance	finance	NOUN
gujaf-378	171	16	,	,	PUNCT
gujaf-378	171	17	vol.6	vol.6	PROPN
gujaf-378	171	18	,	,	PUNCT
gujaf-378	171	19	issue	issue	NOUN
gujaf-378	171	20	1	1	NUM
gujaf-378	171	21	,	,	PUNCT
gujaf-378	171	22	april	april	PROPN
gujaf-378	171	23	,	,	PUNCT
gujaf-378	171	24	2025	2025	NUM
gujaf-378	171	25	199	199	NUM
gujaf-378	171	26	akaike	akaike	ADJ
gujaf-378	171	27	crit	crit	NOUN
gujaf-378	171	28	.	.	PUNCT
gujaf-378	172	1	(	(	PUNCT
gujaf-378	172	2	aic	aic	PROPN
gujaf-378	172	3	)	)	PUNCT
gujaf-378	172	4	149.046	149.046	NUM
gujaf-378	172	5	bayesian	bayesian	NOUN
gujaf-378	172	6	crit	crit	NOUN
gujaf-378	172	7	.	.	PUNCT
gujaf-378	173	1	(	(	PUNCT
gujaf-378	173	2	bic	bic	PROPN
gujaf-378	173	3	)	)	PUNCT
gujaf-378	173	4	192.730	192.730	NUM
gujaf-378	173	5	*	*	PUNCT
gujaf-378	173	6	*	*	PUNCT
gujaf-378	173	7	*	*	PUNCT
gujaf-378	173	8	p<.01	p<.01	VERB
gujaf-378	173	9	,	,	PUNCT
gujaf-378	173	10	*	*	PUNCT
gujaf-378	173	11	*	*	NOUN
gujaf-378	173	12	p<.05	p<.05	NOUN
gujaf-378	173	13	,	,	PUNCT
gujaf-378	173	14	*	*	PUNCT
gujaf-378	173	15	p<.1	p<.1	PROPN
gujaf-378	173	16	source	source	NOUN
gujaf-378	173	17	:	:	PUNCT
gujaf-378	173	18	authors	author	NOUN
gujaf-378	173	19	’	'	PUNCT
gujaf-378	173	20	computation	computation	NOUN
gujaf-378	173	21	.	.	PUNCT
gujaf-378	174	1	the	the	DET
gujaf-378	174	2	fe	fe	PROPN
gujaf-378	174	3	regression	regression	NOUN
gujaf-378	174	4	result	result	NOUN
gujaf-378	174	5	shows	show	VERB
gujaf-378	174	6	that	that	SCONJ
gujaf-378	174	7	earnings	earning	NOUN
gujaf-378	174	8	per	per	ADP
gujaf-378	174	9	share	share	NOUN
gujaf-378	174	10	(	(	PUNCT
gujaf-378	174	11	eps	eps	PROPN
gujaf-378	174	12	)	)	PUNCT
gujaf-378	174	13	have	have	VERB
gujaf-378	174	14	a	a	DET
gujaf-378	174	15	positive	positive	ADJ
gujaf-378	174	16	impact	impact	NOUN
gujaf-378	174	17	on	on	ADP
gujaf-378	174	18	market	market	NOUN
gujaf-378	174	19	share	share	NOUN
gujaf-378	174	20	price	price	NOUN
gujaf-378	174	21	(	(	PUNCT
gujaf-378	174	22	msp	msp	PROPN
gujaf-378	174	23	)	)	PUNCT
gujaf-378	174	24	.	.	PUNCT
gujaf-378	175	1	a	a	DET
gujaf-378	175	2	1	1	NUM
gujaf-378	175	3	%	%	NOUN
gujaf-378	175	4	increase	increase	NOUN
gujaf-378	175	5	in	in	ADP
gujaf-378	175	6	eps	eps	PROPN
gujaf-378	175	7	causes	cause	VERB
gujaf-378	175	8	a	a	DET
gujaf-378	175	9	0.137	0.137	NUM
gujaf-378	175	10	%	%	NOUN
gujaf-378	175	11	increase	increase	NOUN
gujaf-378	175	12	in	in	ADP
gujaf-378	175	13	msp	msp	PROPN
gujaf-378	175	14	.	.	PUNCT
gujaf-378	176	1	this	this	DET
gujaf-378	176	2	coefficient	coefficient	NOUN
gujaf-378	176	3	is	be	AUX
gujaf-378	176	4	statistically	statistically	ADV
gujaf-378	176	5	significant	significant	ADJ
gujaf-378	176	6	at	at	ADP
gujaf-378	176	7	the	the	DET
gujaf-378	176	8	5	5	NUM
gujaf-378	176	9	%	%	NOUN
gujaf-378	176	10	level	level	NOUN
gujaf-378	176	11	.	.	PUNCT
gujaf-378	177	1	similarly	similarly	ADV
gujaf-378	177	2	,	,	PUNCT
gujaf-378	177	3	dividend	dividend	VERB
gujaf-378	177	4	per	per	ADP
gujaf-378	177	5	share	share	NOUN
gujaf-378	177	6	(	(	PUNCT
gujaf-378	177	7	dps	dps	NOUN
gujaf-378	177	8	)	)	PUNCT
gujaf-378	177	9	positively	positively	ADV
gujaf-378	177	10	affects	affect	VERB
gujaf-378	177	11	msp	msp	NOUN
gujaf-378	177	12	:	:	PUNCT
gujaf-378	177	13	a	a	DET
gujaf-378	177	14	1	1	NUM
gujaf-378	177	15	%	%	NOUN
gujaf-378	177	16	increase	increase	NOUN
gujaf-378	177	17	in	in	ADP
gujaf-378	177	18	dps	dps	NOUN
gujaf-378	177	19	causes	cause	VERB
gujaf-378	177	20	a	a	DET
gujaf-378	177	21	0.331	0.331	NUM
gujaf-378	177	22	%	%	NOUN
gujaf-378	177	23	increase	increase	NOUN
gujaf-378	177	24	in	in	ADP
gujaf-378	177	25	msp	msp	PROPN
gujaf-378	177	26	.	.	PUNCT
gujaf-378	178	1	the	the	DET
gujaf-378	178	2	coefficient	coefficient	NOUN
gujaf-378	178	3	is	be	AUX
gujaf-378	178	4	statistically	statistically	ADV
gujaf-378	178	5	significant	significant	ADJ
gujaf-378	178	6	at	at	ADP
gujaf-378	178	7	1	1	NUM
gujaf-378	178	8	%	%	NOUN
gujaf-378	178	9	,	,	PUNCT
gujaf-378	178	10	indicating	indicate	VERB
gujaf-378	178	11	a	a	DET
gujaf-378	178	12	strong	strong	ADJ
gujaf-378	178	13	impact	impact	NOUN
gujaf-378	178	14	on	on	ADP
gujaf-378	178	15	msp	msp	PROPN
gujaf-378	178	16	,	,	PUNCT
gujaf-378	178	17	a	a	DET
gujaf-378	178	18	level	level	NOUN
gujaf-378	178	19	higher	high	ADJ
gujaf-378	178	20	than	than	ADP
gujaf-378	178	21	that	that	PRON
gujaf-378	178	22	of	of	ADP
gujaf-378	178	23	eps	eps	PROPN
gujaf-378	178	24	.	.	PUNCT
gujaf-378	179	1	the	the	DET
gujaf-378	179	2	confidence	confidence	NOUN
gujaf-378	179	3	intervals	interval	NOUN
gujaf-378	179	4	for	for	ADP
gujaf-378	179	5	eps	eps	PROPN
gujaf-378	179	6	(	(	PUNCT
gujaf-378	179	7	0.029	0.029	NUM
gujaf-378	179	8	to	to	ADP
gujaf-378	179	9	0.245	0.245	NUM
gujaf-378	179	10	)	)	PUNCT
gujaf-378	179	11	and	and	CCONJ
gujaf-378	179	12	dps	dps	NOUN
gujaf-378	179	13	(	(	PUNCT
gujaf-378	179	14	0.179	0.179	NUM
gujaf-378	179	15	to	to	ADP
gujaf-378	179	16	0.484	0.484	NUM
gujaf-378	179	17	)	)	PUNCT
gujaf-378	179	18	do	do	AUX
gujaf-378	179	19	not	not	PART
gujaf-378	179	20	contain	contain	VERB
gujaf-378	179	21	zero	zero	NUM
gujaf-378	179	22	,	,	PUNCT
gujaf-378	179	23	further	far	ADV
gujaf-378	179	24	confirming	confirm	VERB
gujaf-378	179	25	the	the	DET
gujaf-378	179	26	statistical	statistical	ADJ
gujaf-378	179	27	significance	significance	NOUN
gujaf-378	179	28	of	of	ADP
gujaf-378	179	29	both	both	DET
gujaf-378	179	30	coefficients	coefficient	NOUN
gujaf-378	179	31	.	.	PUNCT
gujaf-378	180	1	conversely	conversely	ADV
gujaf-378	180	2	,	,	PUNCT
gujaf-378	180	3	operating	operate	VERB
gujaf-378	180	4	cash	cash	NOUN
gujaf-378	180	5	flows	flow	NOUN
gujaf-378	180	6	(	(	PUNCT
gujaf-378	180	7	ocf	ocf	PROPN
gujaf-378	180	8	)	)	PUNCT
gujaf-378	180	9	exhibit	exhibit	VERB
gujaf-378	180	10	a	a	DET
gujaf-378	180	11	weak	weak	ADJ
gujaf-378	180	12	positive	positive	ADJ
gujaf-378	180	13	relationship	relationship	NOUN
gujaf-378	180	14	with	with	ADP
gujaf-378	180	15	msp	msp	PROPN
gujaf-378	180	16	.	.	PUNCT
gujaf-378	181	1	a	a	DET
gujaf-378	181	2	1	1	NUM
gujaf-378	181	3	%	%	NOUN
gujaf-378	181	4	increase	increase	NOUN
gujaf-378	181	5	in	in	ADP
gujaf-378	181	6	ocf	ocf	PROPN
gujaf-378	181	7	leads	lead	VERB
gujaf-378	181	8	to	to	ADP
gujaf-378	181	9	only	only	ADV
gujaf-378	181	10	a	a	DET
gujaf-378	181	11	0.01	0.01	NUM
gujaf-378	181	12	%	%	NOUN
gujaf-378	181	13	increase	increase	NOUN
gujaf-378	181	14	in	in	ADP
gujaf-378	181	15	msp	msp	PROPN
gujaf-378	181	16	.	.	PUNCT
gujaf-378	182	1	this	this	DET
gujaf-378	182	2	coefficient	coefficient	NOUN
gujaf-378	182	3	is	be	AUX
gujaf-378	182	4	statistically	statistically	ADV
gujaf-378	182	5	insignificant	insignificant	ADJ
gujaf-378	182	6	.	.	PUNCT
gujaf-378	183	1	this	this	DET
gujaf-378	183	2	finding	finding	NOUN
gujaf-378	183	3	aligns	align	VERB
gujaf-378	183	4	with	with	ADP
gujaf-378	183	5	mostafa	mostafa	PROPN
gujaf-378	183	6	(	(	PUNCT
gujaf-378	183	7	2016	2016	NUM
gujaf-378	183	8	)	)	PUNCT
gujaf-378	183	9	a	a	DET
gujaf-378	183	10	finding	finding	NOUN
gujaf-378	183	11	in	in	ADP
gujaf-378	183	12	the	the	DET
gujaf-378	183	13	study	study	NOUN
gujaf-378	183	14	of	of	ADP
gujaf-378	183	15	the	the	DET
gujaf-378	183	16	value	value	NOUN
gujaf-378	183	17	relevance	relevance	NOUN
gujaf-378	183	18	of	of	ADP
gujaf-378	183	19	accounting	account	VERB
gujaf-378	183	20	information	information	NOUN
gujaf-378	183	21	in	in	ADP
gujaf-378	183	22	the	the	DET
gujaf-378	183	23	egyptian	egyptian	ADJ
gujaf-378	183	24	stock	stock	NOUN
gujaf-378	183	25	market	market	NOUN
gujaf-378	183	26	,	,	PUNCT
gujaf-378	183	27	which	which	PRON
gujaf-378	183	28	finds	find	VERB
gujaf-378	183	29	that	that	SCONJ
gujaf-378	183	30	cash	cash	NOUN
gujaf-378	183	31	flow	flow	NOUN
gujaf-378	183	32	information	information	NOUN
gujaf-378	183	33	is	be	AUX
gujaf-378	183	34	not	not	PART
gujaf-378	183	35	among	among	ADP
gujaf-378	183	36	the	the	DET
gujaf-378	183	37	stock	stock	NOUN
gujaf-378	183	38	price	price	NOUN
gujaf-378	183	39	drivers	driver	NOUN
gujaf-378	183	40	.	.	PUNCT
gujaf-378	184	1	similarly	similarly	ADV
gujaf-378	184	2	,	,	PUNCT
gujaf-378	184	3	total	total	ADJ
gujaf-378	184	4	assets	asset	NOUN
gujaf-378	184	5	(	(	PUNCT
gujaf-378	184	6	tas	ta	NOUN
gujaf-378	184	7	)	)	PUNCT
gujaf-378	184	8	have	have	VERB
gujaf-378	184	9	a	a	DET
gujaf-378	184	10	weak	weak	ADJ
gujaf-378	184	11	positive	positive	ADJ
gujaf-378	184	12	impact	impact	NOUN
gujaf-378	184	13	on	on	ADP
gujaf-378	184	14	msp	msp	PROPN
gujaf-378	184	15	.	.	PUNCT
gujaf-378	185	1	a	a	DET
gujaf-378	185	2	1	1	NUM
gujaf-378	185	3	%	%	NOUN
gujaf-378	185	4	increase	increase	NOUN
gujaf-378	185	5	in	in	ADP
gujaf-378	185	6	tas	ta	NOUN
gujaf-378	185	7	causes	cause	VERB
gujaf-378	185	8	a	a	DET
gujaf-378	185	9	0.013	0.013	NUM
gujaf-378	185	10	%	%	NOUN
gujaf-378	185	11	increase	increase	NOUN
gujaf-378	185	12	in	in	ADP
gujaf-378	185	13	msp	msp	PROPN
gujaf-378	185	14	,	,	PUNCT
gujaf-378	185	15	which	which	PRON
gujaf-378	185	16	is	be	AUX
gujaf-378	185	17	statistically	statistically	ADV
gujaf-378	185	18	insignificant	insignificant	ADJ
gujaf-378	185	19	.	.	PUNCT
gujaf-378	186	1	the	the	DET
gujaf-378	186	2	confidence	confidence	NOUN
gujaf-378	186	3	intervals	interval	NOUN
gujaf-378	186	4	for	for	ADP
gujaf-378	186	5	ocf	ocf	PROPN
gujaf-378	186	6	(	(	PUNCT
gujaf-378	186	7	-0.027	-0.027	PUNCT
gujaf-378	186	8	to	to	ADP
gujaf-378	186	9	0.047	0.047	NUM
gujaf-378	186	10	)	)	PUNCT
gujaf-378	186	11	and	and	CCONJ
gujaf-378	186	12	tas	ta	NOUN
gujaf-378	186	13	(	(	PUNCT
gujaf-378	186	14	-0.108	-0.108	PUNCT
gujaf-378	186	15	to	to	ADP
gujaf-378	186	16	0.133	0.133	NUM
gujaf-378	186	17	)	)	PUNCT
gujaf-378	186	18	include	include	VERB
gujaf-378	186	19	zero	zero	NUM
gujaf-378	186	20	,	,	PUNCT
gujaf-378	186	21	reinforcing	reinforce	VERB
gujaf-378	186	22	the	the	DET
gujaf-378	186	23	statistical	statistical	ADJ
gujaf-378	186	24	insignificance	insignificance	NOUN
gujaf-378	186	25	.	.	PUNCT
gujaf-378	187	1	the	the	DET
gujaf-378	187	2	year	year	NOUN
gujaf-378	187	3	variables	variable	NOUN
gujaf-378	187	4	,	,	PUNCT
gujaf-378	187	5	with	with	ADP
gujaf-378	187	6	2016	2016	NUM
gujaf-378	187	7	as	as	ADP
gujaf-378	187	8	the	the	DET
gujaf-378	187	9	base	base	NOUN
gujaf-378	187	10	year	year	NOUN
gujaf-378	187	11	,	,	PUNCT
gujaf-378	187	12	show	show	VERB
gujaf-378	187	13	a	a	DET
gujaf-378	187	14	statistically	statistically	ADV
gujaf-378	187	15	insignificant	insignificant	ADJ
gujaf-378	187	16	increase	increase	NOUN
gujaf-378	187	17	in	in	ADP
gujaf-378	187	18	market	market	NOUN
gujaf-378	187	19	share	share	NOUN
gujaf-378	187	20	prices	price	NOUN
gujaf-378	187	21	for	for	ADP
gujaf-378	187	22	2017	2017	NUM
gujaf-378	187	23	,	,	PUNCT
gujaf-378	187	24	followed	follow	VERB
gujaf-378	187	25	by	by	ADP
gujaf-378	187	26	a	a	DET
gujaf-378	187	27	consistent	consistent	ADJ
gujaf-378	187	28	and	and	CCONJ
gujaf-378	187	29	significant	significant	ADJ
gujaf-378	187	30	decline	decline	NOUN
gujaf-378	187	31	starting	start	VERB
gujaf-378	187	32	from	from	ADP
gujaf-378	187	33	2018	2018	NUM
gujaf-378	187	34	onward	onward	ADV
gujaf-378	187	35	,	,	PUNCT
gujaf-378	187	36	worsening	worsen	VERB
gujaf-378	187	37	in	in	ADP
gujaf-378	187	38	2019	2019	NUM
gujaf-378	187	39	.	.	PUNCT
gujaf-378	188	1	this	this	DET
gujaf-378	188	2	trend	trend	NOUN
gujaf-378	188	3	aligns	align	VERB
gujaf-378	188	4	with	with	ADP
gujaf-378	188	5	the	the	DET
gujaf-378	188	6	destructive	destructive	ADJ
gujaf-378	188	7	economic	economic	ADJ
gujaf-378	188	8	effects	effect	NOUN
gujaf-378	188	9	of	of	ADP
gujaf-378	188	10	the	the	DET
gujaf-378	188	11	covid-19	covid-19	PROPN
gujaf-378	188	12	pandemic	pandemic	NOUN
gujaf-378	188	13	(	(	PUNCT
gujaf-378	188	14	baker	baker	PROPN
gujaf-378	188	15	et	et	PROPN
gujaf-378	188	16	al	al	PROPN
gujaf-378	188	17	.	.	PROPN
gujaf-378	188	18	,	,	PUNCT
gujaf-378	188	19	2020	2020	NUM
gujaf-378	188	20	)	)	PUNCT
gujaf-378	188	21	.	.	PUNCT
gujaf-378	189	1	while	while	SCONJ
gujaf-378	189	2	our	our	PRON
gujaf-378	189	3	findings	finding	NOUN
gujaf-378	189	4	document	document	VERB
gujaf-378	189	5	this	this	DET
gujaf-378	189	6	decline	decline	NOUN
gujaf-378	189	7	,	,	PUNCT
gujaf-378	189	8	identifying	identify	VERB
gujaf-378	189	9	its	its	PRON
gujaf-378	189	10	precise	precise	ADJ
gujaf-378	189	11	causal	causal	ADJ
gujaf-378	189	12	mechanisms	mechanism	NOUN
gujaf-378	189	13	falls	fall	VERB
gujaf-378	189	14	beyond	beyond	ADP
gujaf-378	189	15	the	the	DET
gujaf-378	189	16	scope	scope	NOUN
gujaf-378	189	17	of	of	ADP
gujaf-378	189	18	this	this	DET
gujaf-378	189	19	study	study	NOUN
gujaf-378	189	20	.	.	PUNCT
gujaf-378	190	1	the	the	DET
gujaf-378	190	2	0.471	0.471	NUM
gujaf-378	190	3	r	r	NOUN
gujaf-378	190	4	-	-	PUNCT
gujaf-378	190	5	squared	square	VERB
gujaf-378	190	6	value	value	NOUN
gujaf-378	190	7	shows	show	VERB
gujaf-378	190	8	that	that	SCONJ
gujaf-378	190	9	the	the	DET
gujaf-378	190	10	four	four	NUM
gujaf-378	190	11	-	-	PUNCT
gujaf-378	190	12	accounting	accounting	NOUN
gujaf-378	190	13	metrics	metric	NOUN
gujaf-378	190	14	used	use	VERB
gujaf-378	190	15	together	together	ADV
gujaf-378	190	16	explain	explain	VERB
gujaf-378	190	17	47.1	47.1	NUM
gujaf-378	190	18	%	%	NOUN
gujaf-378	190	19	of	of	ADP
gujaf-378	190	20	the	the	DET
gujaf-378	190	21	change	change	NOUN
gujaf-378	190	22	in	in	ADP
gujaf-378	190	23	msp	msp	PROPN
gujaf-378	190	24	.	.	PUNCT
gujaf-378	191	1	the	the	DET
gujaf-378	191	2	model	model	NOUN
gujaf-378	191	3	’s	’s	PART
gujaf-378	191	4	f	f	NOUN
gujaf-378	191	5	-	-	PUNCT
gujaf-378	191	6	test	test	NOUN
gujaf-378	191	7	(	(	PUNCT
gujaf-378	191	8	prob	prob	NOUN
gujaf-378	191	9	>	>	X
gujaf-378	191	10	f=	f=	PROPN
gujaf-378	191	11	0.000	0.000	NUM
gujaf-378	191	12	)	)	PUNCT
gujaf-378	191	13	confirms	confirm	VERB
gujaf-378	191	14	that	that	SCONJ
gujaf-378	191	15	the	the	DET
gujaf-378	191	16	independent	independent	ADJ
gujaf-378	191	17	variables	variable	NOUN
gujaf-378	191	18	jointly	jointly	ADV
gujaf-378	191	19	have	have	VERB
gujaf-378	191	20	a	a	DET
gujaf-378	191	21	significant	significant	ADJ
gujaf-378	191	22	influence	influence	NOUN
gujaf-378	191	23	on	on	ADP
gujaf-378	191	24	the	the	DET
gujaf-378	191	25	dependent	dependent	ADJ
gujaf-378	191	26	variable	variable	NOUN
gujaf-378	191	27	.	.	PUNCT
gujaf-378	192	1	based	base	VERB
gujaf-378	192	2	on	on	ADP
gujaf-378	192	3	these	these	DET
gujaf-378	192	4	results	result	NOUN
gujaf-378	192	5	,	,	PUNCT
gujaf-378	192	6	we	we	PRON
gujaf-378	192	7	accept	accept	VERB
gujaf-378	192	8	the	the	DET
gujaf-378	192	9	hypotheses	hypothesis	NOUN
gujaf-378	192	10	h1	h1	ADJ
gujaf-378	192	11	and	and	CCONJ
gujaf-378	192	12	h2	h2	NOUN
gujaf-378	192	13	,	,	PUNCT
gujaf-378	192	14	whereas	whereas	SCONJ
gujaf-378	192	15	we	we	PRON
gujaf-378	192	16	reject	reject	VERB
gujaf-378	192	17	h3	h3	NOUN
gujaf-378	192	18	and	and	CCONJ
gujaf-378	192	19	h4	h4	NOUN
gujaf-378	192	20	.	.	PUNCT
gujaf-378	193	1	5.0	5.0	NUM
gujaf-378	193	2	conclusion	conclusion	NOUN
gujaf-378	193	3	this	this	DET
gujaf-378	193	4	study	study	NOUN
gujaf-378	193	5	provides	provide	VERB
gujaf-378	193	6	evidence	evidence	NOUN
gujaf-378	193	7	that	that	SCONJ
gujaf-378	193	8	accounting	accounting	NOUN
gujaf-378	193	9	information	information	NOUN
gujaf-378	193	10	,	,	PUNCT
gujaf-378	193	11	particularly	particularly	ADV
gujaf-378	193	12	eps	eps	PROPN
gujaf-378	193	13	and	and	CCONJ
gujaf-378	193	14	dps	dps	NOUN
gujaf-378	193	15	,	,	PUNCT
gujaf-378	193	16	has	have	AUX
gujaf-378	193	17	not	not	PART
gujaf-378	193	18	declined	decline	VERB
gujaf-378	193	19	in	in	ADP
gujaf-378	193	20	its	its	PRON
gujaf-378	193	21	usefulness	usefulness	NOUN
gujaf-378	193	22	for	for	ADP
gujaf-378	193	23	investment	investment	NOUN
gujaf-378	193	24	decisions	decision	NOUN
gujaf-378	193	25	in	in	ADP
gujaf-378	193	26	kenya	kenya	PROPN
gujaf-378	193	27	.	.	PUNCT
gujaf-378	194	1	the	the	DET
gujaf-378	194	2	findings	finding	NOUN
gujaf-378	194	3	are	be	AUX
gujaf-378	194	4	consistent	consistent	ADJ
gujaf-378	194	5	with	with	ADP
gujaf-378	194	6	the	the	DET
gujaf-378	194	7	dividend	dividend	NOUN
gujaf-378	194	8	signaling	signal	VERB
gujaf-378	194	9	theory	theory	NOUN
gujaf-378	194	10	and	and	CCONJ
gujaf-378	194	11	,	,	PUNCT
gujaf-378	194	12	bird	bird	NOUN
gujaf-378	194	13	-	-	PUNCT
gujaf-378	194	14	in	in	ADP
gujaf-378	194	15	-	-	PUNCT
gujaf-378	194	16	hand	hand	NOUN
gujaf-378	194	17	theory	theory	NOUN
gujaf-378	194	18	.	.	PUNCT
gujaf-378	195	1	moreover	moreover	ADV
gujaf-378	195	2	,	,	PUNCT
gujaf-378	195	3	they	they	PRON
gujaf-378	195	4	also	also	ADV
gujaf-378	195	5	indicate	indicate	VERB
gujaf-378	195	6	that	that	SCONJ
gujaf-378	195	7	the	the	DET
gujaf-378	195	8	existence	existence	NOUN
gujaf-378	195	9	of	of	ADP
gujaf-378	195	10	a	a	DET
gujaf-378	195	11	weak	weak	ADJ
gujaf-378	195	12	-	-	PUNCT
gujaf-378	195	13	form	form	NOUN
gujaf-378	195	14	market	market	NOUN
gujaf-378	195	15	efficiency	efficiency	NOUN
gujaf-378	195	16	in	in	ADP
gujaf-378	195	17	the	the	DET
gujaf-378	195	18	kenyan	kenyan	ADJ
gujaf-378	195	19	stock	stock	NOUN
gujaf-378	195	20	exchange	exchange	PROPN
gujaf-378	195	21	.	.	PUNCT
gujaf-378	196	1	finally	finally	ADV
gujaf-378	196	2	,	,	PUNCT
gujaf-378	196	3	based	base	VERB
gujaf-378	196	4	on	on	ADP
gujaf-378	196	5	the	the	DET
gujaf-378	196	6	findings	finding	NOUN
gujaf-378	196	7	,	,	PUNCT
gujaf-378	196	8	we	we	PRON
gujaf-378	196	9	propose	propose	VERB
gujaf-378	196	10	that	that	SCONJ
gujaf-378	196	11	further	further	ADJ
gujaf-378	196	12	research	research	NOUN
gujaf-378	196	13	into	into	ADP
gujaf-378	196	14	sectoral	sectoral	ADJ
gujaf-378	196	15	analysis	analysis	NOUN
gujaf-378	196	16	and	and	CCONJ
gujaf-378	196	17	esg	esg	NOUN
gujaf-378	196	18	disclosure	disclosure	NOUN
gujaf-378	196	19	should	should	AUX
gujaf-378	196	20	be	be	AUX
gujaf-378	196	21	carried	carry	VERB
gujaf-378	196	22	out	out	ADP
gujaf-378	196	23	,	,	PUNCT
gujaf-378	196	24	and	and	CCONJ
gujaf-378	196	25	given	give	VERB
gujaf-378	196	26	the	the	DET
gujaf-378	196	27	significant	significant	ADJ
gujaf-378	196	28	decrease	decrease	NOUN
gujaf-378	196	29	in	in	ADP
gujaf-378	196	30	the	the	DET
gujaf-378	196	31	market	market	NOUN
gujaf-378	196	32	share	share	NOUN
gujaf-378	196	33	prices	price	NOUN
gujaf-378	196	34	after	after	ADP
gujaf-378	196	35	2019	2019	NUM
gujaf-378	196	36	found	find	VERB
gujaf-378	196	37	in	in	ADP
gujaf-378	196	38	this	this	DET
gujaf-378	196	39	study	study	NOUN
gujaf-378	196	40	,	,	PUNCT
gujaf-378	196	41	future	future	ADJ
gujaf-378	196	42	research	research	NOUN
gujaf-378	196	43	is	be	AUX
gujaf-378	196	44	essential	essential	ADJ
gujaf-378	196	45	to	to	PART
gujaf-378	196	46	investigate	investigate	VERB
gujaf-378	196	47	the	the	DET
gujaf-378	196	48	reasons	reason	NOUN
gujaf-378	196	49	for	for	ADP
gujaf-378	196	50	this	this	DET
gujaf-378	196	51	phenomenon	phenomenon	NOUN
gujaf-378	196	52	.	.	PUNCT
gujaf-378	197	1	gusau	gusau	ADJ
gujaf-378	197	2	journal	journal	PROPN
gujaf-378	197	3	of	of	ADP
gujaf-378	197	4	accounting	accounting	NOUN
gujaf-378	197	5	and	and	CCONJ
gujaf-378	197	6	finance	finance	NOUN
gujaf-378	197	7	,	,	PUNCT
gujaf-378	197	8	vol.6	vol.6	PROPN
gujaf-378	197	9	,	,	PUNCT
gujaf-378	197	10	issue	issue	NOUN
gujaf-378	197	11	1	1	NUM
gujaf-378	197	12	,	,	PUNCT
gujaf-378	197	13	april	april	PROPN
gujaf-378	197	14	,	,	PUNCT
gujaf-378	197	15	2025	2025	NUM
gujaf-378	197	16	200	200	NUM
gujaf-378	197	17	references	reference	NOUN
gujaf-378	197	18	ali	ali	PROPN
gujaf-378	197	19	,	,	PUNCT
gujaf-378	197	20	m.	m.	PROPN
gujaf-378	197	21	b.	b.	PROPN
gujaf-378	197	22	,	,	PUNCT
gujaf-378	197	23	&	&	CCONJ
gujaf-378	197	24	chowdhury	chowdhury	PROPN
gujaf-378	197	25	,	,	PUNCT
gujaf-378	197	26	t.	t.	NOUN
gujaf-378	197	27	a.	a.	NOUN
gujaf-378	197	28	(	(	PUNCT
gujaf-378	197	29	2010	2010	NUM
gujaf-378	197	30	)	)	PUNCT
gujaf-378	197	31	.	.	PUNCT
gujaf-378	198	1	effect	effect	NOUN
gujaf-378	198	2	of	of	ADP
gujaf-378	198	3	dividend	dividend	NOUN
gujaf-378	198	4	on	on	ADP
gujaf-378	198	5	stock	stock	NOUN
gujaf-378	198	6	price	price	NOUN
gujaf-378	198	7	in	in	ADP
gujaf-378	198	8	emerging	emerge	VERB
gujaf-378	198	9	stock	stock	NOUN
gujaf-378	198	10	market	market	NOUN
gujaf-378	198	11	:	:	PUNCT
gujaf-378	198	12	a	a	DET
gujaf-378	198	13	study	study	NOUN
gujaf-378	198	14	on	on	ADP
gujaf-378	198	15	the	the	DET
gujaf-378	198	16	listed	list	VERB
gujaf-378	198	17	private	private	ADJ
gujaf-378	198	18	commercial	commercial	ADJ
gujaf-378	198	19	banks	bank	NOUN
gujaf-378	198	20	in	in	ADP
gujaf-378	198	21	dse	dse	PROPN
gujaf-378	198	22	.	.	PUNCT
gujaf-378	199	1	international	international	ADJ
gujaf-378	199	2	journal	journal	PROPN
gujaf-378	199	3	of	of	ADP
gujaf-378	199	4	economics	economic	NOUN
gujaf-378	199	5	and	and	CCONJ
gujaf-378	199	6	finance	finance	NOUN
gujaf-378	199	7	,	,	PUNCT
gujaf-378	199	8	2(4	2(4	NUM
gujaf-378	199	9	)	)	PUNCT
gujaf-378	199	10	,	,	PUNCT
gujaf-378	199	11	52–64	52–64	NUM
gujaf-378	199	12	.	.	PUNCT
gujaf-378	199	13	amahalu	amahalu	PROPN
gujaf-378	199	14	,	,	PUNCT
gujaf-378	199	15	n.	n.	NOUN
gujaf-378	199	16	,	,	PUNCT
gujaf-378	199	17	abiahu	abiahu	NOUN
gujaf-378	199	18	,	,	PUNCT
gujaf-378	199	19	m.-f	m.-f	PROPN
gujaf-378	199	20	.	.	PUNCT
gujaf-378	200	1	c.	c.	NOUN
gujaf-378	200	2	,	,	PUNCT
gujaf-378	200	3	chinyere	chinyere	ADV
gujaf-378	200	4	,	,	PUNCT
gujaf-378	200	5	o.	o.	PROPN
gujaf-378	200	6	,	,	PUNCT
gujaf-378	200	7	&	&	CCONJ
gujaf-378	200	8	nweze	nweze	PROPN
gujaf-378	200	9	,	,	PUNCT
gujaf-378	200	10	c.	c.	NOUN
gujaf-378	200	11	(	(	PUNCT
gujaf-378	200	12	2018	2018	NUM
gujaf-378	200	13	)	)	PUNCT
gujaf-378	200	14	.	.	PUNCT
gujaf-378	201	1	effect	effect	NOUN
gujaf-378	201	2	of	of	ADP
gujaf-378	201	3	accounting	account	VERB
gujaf-378	201	4	information	information	NOUN
gujaf-378	201	5	on	on	ADP
gujaf-378	201	6	market	market	NOUN
gujaf-378	201	7	share	share	NOUN
gujaf-378	201	8	price	price	NOUN
gujaf-378	201	9	of	of	ADP
gujaf-378	201	10	selected	select	VERB
gujaf-378	201	11	firms	firm	NOUN
gujaf-378	201	12	listed	list	VERB
gujaf-378	201	13	on	on	ADP
gujaf-378	201	14	the	the	DET
gujaf-378	201	15	nigerian	nigerian	ADJ
gujaf-378	201	16	stock	stock	NOUN
gujaf-378	201	17	exchange	exchange	PROPN
gujaf-378	201	18	.	.	PUNCT
gujaf-378	202	1	international	international	ADJ
gujaf-378	202	2	journal	journal	NOUN
gujaf-378	202	3	of	of	ADP
gujaf-378	202	4	recent	recent	ADJ
gujaf-378	202	5	advances	advance	NOUN
gujaf-378	202	6	in	in	ADP
gujaf-378	202	7	multidisciplinary	multidisciplinary	ADJ
gujaf-378	202	8	research	research	NOUN
gujaf-378	202	9	,	,	PUNCT
gujaf-378	202	10	5(01	5(01	NUM
gujaf-378	202	11	)	)	PUNCT
gujaf-378	202	12	,	,	PUNCT
gujaf-378	202	13	3366	3366	NUM
gujaf-378	202	14	–	–	PUNCT
gujaf-378	202	15	3374	3374	NUM
gujaf-378	202	16	.	.	PUNCT
gujaf-378	203	1	arsal	arsal	NOUN
gujaf-378	203	2	,	,	PUNCT
gujaf-378	203	3	m.	m.	NOUN
gujaf-378	203	4	(	(	PUNCT
gujaf-378	203	5	2021	2021	NUM
gujaf-378	203	6	)	)	PUNCT
gujaf-378	203	7	.	.	PUNCT
gujaf-378	204	1	impact	impact	NOUN
gujaf-378	204	2	of	of	ADP
gujaf-378	204	3	earnings	earning	NOUN
gujaf-378	204	4	per	per	ADP
gujaf-378	204	5	share	share	NOUN
gujaf-378	204	6	and	and	CCONJ
gujaf-378	204	7	dividend	dividend	VERB
gujaf-378	204	8	per	per	ADP
gujaf-378	204	9	share	share	NOUN
gujaf-378	204	10	on	on	ADP
gujaf-378	204	11	firm	firm	ADJ
gujaf-378	204	12	value	value	NOUN
gujaf-378	204	13	.	.	PUNCT
gujaf-378	205	1	atestasi	atestasi	NOUN
gujaf-378	205	2	:	:	PUNCT
gujaf-378	205	3	journal	journal	PROPN
gujaf-378	205	4	ilmiah	ilmiah	PROPN
gujaf-378	205	5	akuntansi	akuntansi	PROPN
gujaf-378	205	6	,	,	PUNCT
gujaf-378	205	7	4(1	4(1	X
gujaf-378	205	8	)	)	PUNCT
gujaf-378	205	9	,	,	PUNCT
gujaf-378	205	10	11–18	11–18	NUM
gujaf-378	205	11	.	.	PUNCT
gujaf-378	205	12	atsunyo	atsunyo	PROPN
gujaf-378	205	13	,	,	PUNCT
gujaf-378	205	14	w.	w.	PROPN
gujaf-378	205	15	,	,	PUNCT
gujaf-378	205	16	gatsi	gatsi	PROPN
gujaf-378	205	17	,	,	PUNCT
gujaf-378	205	18	j.	j.	PROPN
gujaf-378	205	19	g.	g.	PROPN
gujaf-378	205	20	,	,	PUNCT
gujaf-378	205	21	&	&	CCONJ
gujaf-378	205	22	frimpong	frimpong	PROPN
gujaf-378	205	23	-	-	PUNCT
gujaf-378	205	24	manso	manso	PROPN
gujaf-378	205	25	,	,	PUNCT
gujaf-378	205	26	e.	e.	PROPN
gujaf-378	205	27	(	(	PUNCT
gujaf-378	205	28	2017	2017	NUM
gujaf-378	205	29	)	)	PUNCT
gujaf-378	205	30	.	.	PUNCT
gujaf-378	206	1	the	the	DET
gujaf-378	206	2	success	success	NOUN
gujaf-378	206	3	of	of	ADP
gujaf-378	206	4	ifrs	ifrs	PROPN
gujaf-378	206	5	in	in	ADP
gujaf-378	206	6	africa	africa	PROPN
gujaf-378	206	7	:	:	PUNCT
gujaf-378	206	8	comparative	comparative	ADJ
gujaf-378	206	9	evidence	evidence	NOUN
gujaf-378	206	10	between	between	ADP
gujaf-378	206	11	ghana	ghana	PROPN
gujaf-378	206	12	and	and	CCONJ
gujaf-378	206	13	kenya	kenya	PROPN
gujaf-378	206	14	.	.	PUNCT
gujaf-378	207	1	badu	badu	PROPN
gujaf-378	207	2	,	,	PUNCT
gujaf-378	207	3	b.	b.	PROPN
gujaf-378	207	4	,	,	PUNCT
gujaf-378	207	5	&	&	CCONJ
gujaf-378	207	6	appiah	appiah	PROPN
gujaf-378	207	7	,	,	PUNCT
gujaf-378	207	8	k.	k.	PROPN
gujaf-378	207	9	o.	o.	PROPN
gujaf-378	207	10	(	(	PUNCT
gujaf-378	207	11	2018	2018	NUM
gujaf-378	207	12	)	)	PUNCT
gujaf-378	207	13	.	.	PUNCT
gujaf-378	208	1	value	value	NOUN
gujaf-378	208	2	relevance	relevance	NOUN
gujaf-378	208	3	of	of	ADP
gujaf-378	208	4	accounting	accounting	NOUN
gujaf-378	208	5	information	information	NOUN
gujaf-378	208	6	:	:	PUNCT
gujaf-378	208	7	an	an	DET
gujaf-378	208	8	emerging	emerge	VERB
gujaf-378	208	9	country	country	NOUN
gujaf-378	208	10	perspective	perspective	NOUN
gujaf-378	208	11	.	.	PUNCT
gujaf-378	209	1	journal	journal	PROPN
gujaf-378	209	2	of	of	ADP
gujaf-378	209	3	accounting	accounting	PROPN
gujaf-378	209	4	&	&	CCONJ
gujaf-378	209	5	organizational	organizational	ADJ
gujaf-378	209	6	change	change	NOUN
gujaf-378	209	7	,	,	PUNCT
gujaf-378	209	8	14(4	14(4	NUM
gujaf-378	209	9	)	)	PUNCT
gujaf-378	209	10	,	,	PUNCT
gujaf-378	209	11	473–491	473–491	NUM
gujaf-378	209	12	.	.	PUNCT
gujaf-378	210	1	baker	baker	PROPN
gujaf-378	210	2	,	,	PUNCT
gujaf-378	210	3	s.	s.	PROPN
gujaf-378	210	4	r.	r.	PROPN
gujaf-378	210	5	,	,	PUNCT
gujaf-378	210	6	bloom	bloom	NOUN
gujaf-378	210	7	,	,	PUNCT
gujaf-378	210	8	n.	n.	NOUN
gujaf-378	210	9	,	,	PUNCT
gujaf-378	210	10	davis	davis	PROPN
gujaf-378	210	11	,	,	PUNCT
gujaf-378	210	12	s.	s.	PROPN
gujaf-378	210	13	j.	j.	PROPN
gujaf-378	210	14	,	,	PUNCT
gujaf-378	210	15	kost	kost	PROPN
gujaf-378	210	16	,	,	PUNCT
gujaf-378	210	17	k.	k.	PROPN
gujaf-378	210	18	j.	j.	PROPN
gujaf-378	210	19	,	,	PUNCT
gujaf-378	210	20	sammon	sammon	PROPN
gujaf-378	210	21	,	,	PUNCT
gujaf-378	210	22	m.	m.	PROPN
gujaf-378	210	23	c.	c.	PROPN
gujaf-378	210	24	,	,	PUNCT
gujaf-378	210	25	&	&	CCONJ
gujaf-378	210	26	viratyosin	viratyosin	PROPN
gujaf-378	210	27	,	,	PUNCT
gujaf-378	210	28	t.	t.	PROPN
gujaf-378	210	29	(	(	PUNCT
gujaf-378	210	30	2020	2020	NUM
gujaf-378	210	31	)	)	PUNCT
gujaf-378	210	32	.	.	PUNCT
gujaf-378	211	1	the	the	DET
gujaf-378	211	2	unprecedented	unprecedented	ADJ
gujaf-378	211	3	stock	stock	NOUN
gujaf-378	211	4	market	market	NOUN
gujaf-378	211	5	impact	impact	NOUN
gujaf-378	211	6	of	of	ADP
gujaf-378	211	7	covid-19	covid-19	PROPN
gujaf-378	211	8	.	.	PUNCT
gujaf-378	211	9	national	national	PROPN
gujaf-378	211	10	bureau	bureau	PROPN
gujaf-378	211	11	of	of	ADP
gujaf-378	211	12	economic	economic	ADJ
gujaf-378	211	13	research	research	NOUN
gujaf-378	211	14	.	.	PUNCT
gujaf-378	212	1	ball	ball	PROPN
gujaf-378	212	2	,	,	PUNCT
gujaf-378	212	3	r.	r.	PROPN
gujaf-378	212	4	,	,	PUNCT
gujaf-378	212	5	&	&	CCONJ
gujaf-378	212	6	brown	brown	PROPN
gujaf-378	212	7	,	,	PUNCT
gujaf-378	212	8	p.	p.	NOUN
gujaf-378	212	9	(	(	PUNCT
gujaf-378	212	10	1968	1968	NUM
gujaf-378	212	11	)	)	PUNCT
gujaf-378	212	12	.	.	PUNCT
gujaf-378	213	1	an	an	DET
gujaf-378	213	2	empirical	empirical	ADJ
gujaf-378	213	3	examination	examination	NOUN
gujaf-378	213	4	of	of	ADP
gujaf-378	213	5	accounting	accounting	NOUN
gujaf-378	213	6	income	income	NOUN
gujaf-378	213	7	numbers	number	NOUN
gujaf-378	213	8	.	.	PUNCT
gujaf-378	214	1	journal	journal	NOUN
gujaf-378	214	2	of	of	ADP
gujaf-378	214	3	accounting	accounting	NOUN
gujaf-378	214	4	research	research	NOUN
gujaf-378	214	5	,	,	PUNCT
gujaf-378	214	6	6	6	NUM
gujaf-378	214	7	,	,	PUNCT
gujaf-378	214	8	1599177	1599177	NUM
gujaf-378	214	9	.	.	PUNCT
gujaf-378	215	1	barth	barth	PROPN
gujaf-378	215	2	,	,	PUNCT
gujaf-378	215	3	m.	m.	PROPN
gujaf-378	215	4	e.	e.	PROPN
gujaf-378	215	5	,	,	PUNCT
gujaf-378	215	6	li	li	PROPN
gujaf-378	215	7	,	,	PUNCT
gujaf-378	215	8	k.	k.	PROPN
gujaf-378	215	9	,	,	PUNCT
gujaf-378	215	10	&	&	CCONJ
gujaf-378	215	11	mcclure	mcclure	PROPN
gujaf-378	215	12	,	,	PUNCT
gujaf-378	215	13	c.	c.	PROPN
gujaf-378	215	14	g.	g.	PROPN
gujaf-378	215	15	(	(	PUNCT
gujaf-378	215	16	2023	2023	NUM
gujaf-378	215	17	)	)	PUNCT
gujaf-378	215	18	.	.	PUNCT
gujaf-378	216	1	evolution	evolution	NOUN
gujaf-378	216	2	in	in	ADP
gujaf-378	216	3	value	value	NOUN
gujaf-378	216	4	relevance	relevance	NOUN
gujaf-378	216	5	of	of	ADP
gujaf-378	216	6	accounting	accounting	NOUN
gujaf-378	216	7	information	information	NOUN
gujaf-378	216	8	.	.	PUNCT
gujaf-378	217	1	the	the	DET
gujaf-378	217	2	accounting	accounting	NOUN
gujaf-378	217	3	review	review	NOUN
gujaf-378	217	4	,	,	PUNCT
gujaf-378	217	5	98(1	98(1	NOUN
gujaf-378	217	6	)	)	PUNCT
gujaf-378	217	7	,	,	PUNCT
gujaf-378	217	8	1–28	1–28	PROPN
gujaf-378	217	9	.	.	PUNCT
gujaf-378	218	1	bhatia	bhatia	PROPN
gujaf-378	218	2	,	,	PUNCT
gujaf-378	218	3	m.	m.	NOUN
gujaf-378	218	4	,	,	PUNCT
gujaf-378	218	5	&	&	CCONJ
gujaf-378	218	6	mulenga	mulenga	NOUN
gujaf-378	218	7	,	,	PUNCT
gujaf-378	218	8	m.	m.	NOUN
gujaf-378	218	9	j.	j.	PROPN
gujaf-378	218	10	(	(	PUNCT
gujaf-378	218	11	2019	2019	NUM
gujaf-378	218	12	)	)	PUNCT
gujaf-378	218	13	.	.	PUNCT
gujaf-378	219	1	value	value	NOUN
gujaf-378	219	2	relevance	relevance	NOUN
gujaf-378	219	3	of	of	ADP
gujaf-378	219	4	accounting	accounting	NOUN
gujaf-378	219	5	information	information	NOUN
gujaf-378	219	6	:	:	PUNCT
gujaf-378	219	7	a	a	DET
gujaf-378	219	8	review	review	NOUN
gujaf-378	219	9	of	of	ADP
gujaf-378	219	10	empirical	empirical	ADJ
gujaf-378	219	11	evidence	evidence	NOUN
gujaf-378	219	12	across	across	ADP
gujaf-378	219	13	continents	continent	NOUN
gujaf-378	219	14	.	.	PUNCT
gujaf-378	220	1	jindal	jindal	PROPN
gujaf-378	220	2	journal	journal	PROPN
gujaf-378	220	3	of	of	ADP
gujaf-378	220	4	business	business	PROPN
gujaf-378	220	5	research	research	NOUN
gujaf-378	220	6	,	,	PUNCT
gujaf-378	220	7	8(2	8(2	NUM
gujaf-378	220	8	)	)	PUNCT
gujaf-378	220	9	,	,	PUNCT
gujaf-378	220	10	179	179	NUM
gujaf-378	220	11	–	–	PUNCT
gujaf-378	220	12	193	193	NUM
gujaf-378	220	13	.	.	PUNCT
gujaf-378	221	1	bhattacharya	bhattacharya	PROPN
gujaf-378	221	2	,	,	PUNCT
gujaf-378	221	3	s.	s.	PROPN
gujaf-378	221	4	(	(	PUNCT
gujaf-378	221	5	1979	1979	NUM
gujaf-378	221	6	)	)	PUNCT
gujaf-378	221	7	.	.	PUNCT
gujaf-378	222	1	imperfect	imperfect	ADJ
gujaf-378	222	2	information	information	NOUN
gujaf-378	222	3	,	,	PUNCT
gujaf-378	222	4	dividend	dividend	NOUN
gujaf-378	222	5	policy	policy	NOUN
gujaf-378	222	6	,	,	PUNCT
gujaf-378	222	7	and	and	CCONJ
gujaf-378	222	8	"	"	PUNCT
gujaf-378	222	9	the	the	DET
gujaf-378	222	10	bird	bird	NOUN
gujaf-378	222	11	in	in	ADP
gujaf-378	222	12	the	the	DET
gujaf-378	222	13	hand	hand	NOUN
gujaf-378	222	14	"	"	PUNCT
gujaf-378	222	15	fallacy	fallacy	NOUN
gujaf-378	222	16	.	.	PUNCT
gujaf-378	223	1	the	the	DET
gujaf-378	223	2	bell	bell	PROPN
gujaf-378	223	3	journal	journal	PROPN
gujaf-378	223	4	of	of	ADP
gujaf-378	223	5	economics	economic	NOUN
gujaf-378	223	6	,	,	PUNCT
gujaf-378	223	7	259–270	259–270	NUM
gujaf-378	223	8	.	.	PUNCT
gujaf-378	223	9	brown	brown	PROPN
gujaf-378	223	10	,	,	PUNCT
gujaf-378	223	11	s.	s.	PROPN
gujaf-378	223	12	,	,	PUNCT
gujaf-378	223	13	lo	lo	PROPN
gujaf-378	223	14	,	,	PUNCT
gujaf-378	223	15	k.	k.	PROPN
gujaf-378	223	16	,	,	PUNCT
gujaf-378	223	17	&	&	CCONJ
gujaf-378	223	18	lys	lys	PROPN
gujaf-378	223	19	,	,	PUNCT
gujaf-378	223	20	t.	t.	PROPN
gujaf-378	223	21	(	(	PUNCT
gujaf-378	223	22	1999	1999	NUM
gujaf-378	223	23	)	)	PUNCT
gujaf-378	223	24	.	.	PUNCT
gujaf-378	224	1	use	use	NOUN
gujaf-378	224	2	of	of	ADP
gujaf-378	224	3	r2	r2	PROPN
gujaf-378	224	4	in	in	ADP
gujaf-378	224	5	accounting	accounting	NOUN
gujaf-378	224	6	research	research	NOUN
gujaf-378	224	7	:	:	PUNCT
gujaf-378	224	8	measuring	measure	VERB
gujaf-378	224	9	changes	change	NOUN
gujaf-378	224	10	in	in	ADP
gujaf-378	224	11	value	value	NOUN
gujaf-378	224	12	relevance	relevance	NOUN
gujaf-378	224	13	over	over	ADP
gujaf-378	224	14	the	the	DET
gujaf-378	224	15	last	last	ADJ
gujaf-378	224	16	four	four	NUM
gujaf-378	224	17	decades	decade	NOUN
gujaf-378	224	18	.	.	PUNCT
gujaf-378	225	1	journal	journal	NOUN
gujaf-378	225	2	of	of	ADP
gujaf-378	225	3	accounting	accounting	NOUN
gujaf-378	225	4	and	and	CCONJ
gujaf-378	225	5	economics	economic	NOUN
gujaf-378	225	6	,	,	PUNCT
gujaf-378	225	7	28(2	28(2	NUM
gujaf-378	225	8	)	)	PUNCT
gujaf-378	225	9	,	,	PUNCT
gujaf-378	225	10	83–115	83–115	PROPN
gujaf-378	225	11	.	.	PUNCT
gujaf-378	226	1	busari	busari	PROPN
gujaf-378	226	2	,	,	PUNCT
gujaf-378	226	3	k.	k.	PROPN
gujaf-378	226	4	,	,	PUNCT
gujaf-378	226	5	&	&	CCONJ
gujaf-378	226	6	bagudo	bagudo	PROPN
gujaf-378	226	7	,	,	PUNCT
gujaf-378	226	8	m.	m.	NOUN
gujaf-378	226	9	m.	m.	NOUN
gujaf-378	226	10	(	(	PUNCT
gujaf-378	226	11	2021	2021	NUM
gujaf-378	226	12	)	)	PUNCT
gujaf-378	226	13	.	.	PUNCT
gujaf-378	227	1	comparing	compare	VERB
gujaf-378	227	2	the	the	DET
gujaf-378	227	3	value	value	NOUN
gujaf-378	227	4	relevance	relevance	NOUN
gujaf-378	227	5	of	of	ADP
gujaf-378	227	6	selected	select	VERB
gujaf-378	227	7	accounting	accounting	NOUN
gujaf-378	227	8	information	information	NOUN
gujaf-378	227	9	in	in	ADP
gujaf-378	227	10	consolidated	consolidated	ADJ
gujaf-378	227	11	and	and	CCONJ
gujaf-378	227	12	separate	separate	ADJ
gujaf-378	227	13	financial	financial	ADJ
gujaf-378	227	14	statements	statement	NOUN
gujaf-378	227	15	:	:	PUNCT
gujaf-378	227	16	the	the	DET
gujaf-378	227	17	case	case	NOUN
gujaf-378	227	18	of	of	ADP
gujaf-378	227	19	nigerian	nigerian	ADJ
gujaf-378	227	20	listed	list	VERB
gujaf-378	227	21	financial	financial	ADJ
gujaf-378	227	22	service	service	NOUN
gujaf-378	227	23	firms	firm	NOUN
gujaf-378	227	24	.	.	PUNCT
gujaf-378	228	1	journal	journal	PROPN
gujaf-378	228	2	of	of	ADP
gujaf-378	228	3	economics	economic	NOUN
gujaf-378	228	4	and	and	CCONJ
gujaf-378	228	5	sustainability	sustainability	NOUN
gujaf-378	228	6	,	,	PUNCT
gujaf-378	228	7	3(number	3(number	NOUN
gujaf-378	228	8	2	2	NUM
gujaf-378	228	9	)	)	PUNCT
gujaf-378	228	10	,	,	PUNCT
gujaf-378	228	11	16–32	16–32	NUM
gujaf-378	228	12	.	.	PUNCT
gujaf-378	229	1	cohen	cohen	PROPN
gujaf-378	229	2	,	,	PUNCT
gujaf-378	229	3	s.	s.	PROPN
gujaf-378	229	4	,	,	PUNCT
gujaf-378	229	5	manes	mane	NOUN
gujaf-378	229	6	rossi	rossi	PROPN
gujaf-378	229	7	,	,	PUNCT
gujaf-378	229	8	f.	f.	PROPN
gujaf-378	229	9	,	,	PUNCT
gujaf-378	229	10	mamakou	mamakou	PROPN
gujaf-378	229	11	,	,	PUNCT
gujaf-378	229	12	x.	x.	NOUN
gujaf-378	229	13	,	,	PUNCT
gujaf-378	229	14	&	&	CCONJ
gujaf-378	229	15	brusca	brusca	NOUN
gujaf-378	229	16	,	,	PUNCT
gujaf-378	229	17	i.	i.	NOUN
gujaf-378	229	18	(	(	PUNCT
gujaf-378	229	19	2022	2022	NUM
gujaf-378	229	20	)	)	PUNCT
gujaf-378	229	21	.	.	PUNCT
gujaf-378	230	1	financial	financial	ADJ
gujaf-378	230	2	accounting	accounting	NOUN
gujaf-378	230	3	information	information	NOUN
gujaf-378	230	4	presented	present	VERB
gujaf-378	230	5	with	with	ADP
gujaf-378	230	6	infographics	infographic	NOUN
gujaf-378	230	7	:	:	PUNCT
gujaf-378	230	8	does	do	AUX
gujaf-378	230	9	it	it	PRON
gujaf-378	230	10	improve	improve	VERB
gujaf-378	230	11	financial	financial	ADJ
gujaf-378	230	12	reporting	reporting	NOUN
gujaf-378	230	13	understandability	understandability	NOUN
gujaf-378	230	14	?	?	PUNCT
gujaf-378	231	1	journal	journal	NOUN
gujaf-378	231	2	of	of	ADP
gujaf-378	231	3	public	public	ADJ
gujaf-378	231	4	budgeting	budgeting	NOUN
gujaf-378	231	5	,	,	PUNCT
gujaf-378	231	6	accounting	accounting	NOUN
gujaf-378	231	7	&	&	CCONJ
gujaf-378	231	8	financial	financial	ADJ
gujaf-378	231	9	management	management	NOUN
gujaf-378	231	10	,	,	PUNCT
gujaf-378	231	11	34(6	34(6	NOUN
gujaf-378	231	12	)	)	PUNCT
gujaf-378	231	13	,	,	PUNCT
gujaf-378	231	14	263–295	263–295	NUM
gujaf-378	231	15	.	.	PUNCT
gujaf-378	232	1	dabafinance.com	dabafinance.com	X
gujaf-378	232	2	.	.	PUNCT
gujaf-378	233	1	(	(	PUNCT
gujaf-378	233	2	2024	2024	NUM
gujaf-378	233	3	,	,	PUNCT
gujaf-378	233	4	june	june	PROPN
gujaf-378	233	5	3	3	NUM
gujaf-378	233	6	)	)	PUNCT
gujaf-378	233	7	.	.	PUNCT
gujaf-378	234	1	the	the	DET
gujaf-378	234	2	largest	large	ADJ
gujaf-378	234	3	stock	stock	NOUN
gujaf-378	234	4	exchanges	exchange	NOUN
gujaf-378	234	5	in	in	ADP
gujaf-378	234	6	africa	africa	PROPN
gujaf-378	234	7	by	by	ADP
gujaf-378	234	8	market	market	NOUN
gujaf-378	234	9	capitalization	capitalization	NOUN
gujaf-378	234	10	.	.	PUNCT
gujaf-378	235	1	daba	daba	PROPN
gujaf-378	235	2	.	.	PUNCT
gujaf-378	235	3	https://dabafinance.com/en/learn/blogs/the-largest-stockexchanges-in-africa-by-market-capitalization	https://dabafinance.com/en/learn/blogs/the-largest-stockexchanges-in-africa-by-market-capitalization	NOUN
gujaf-378	235	4	gusau	gusau	PROPN
gujaf-378	235	5	journal	journal	NOUN
gujaf-378	235	6	of	of	ADP
gujaf-378	235	7	accounting	accounting	NOUN
gujaf-378	235	8	and	and	CCONJ
gujaf-378	235	9	finance	finance	NOUN
gujaf-378	235	10	,	,	PUNCT
gujaf-378	235	11	vol.6	vol.6	PROPN
gujaf-378	235	12	,	,	PUNCT
gujaf-378	235	13	issue	issue	NOUN
gujaf-378	235	14	1	1	NUM
gujaf-378	235	15	,	,	PUNCT
gujaf-378	235	16	april	april	PROPN
gujaf-378	235	17	,	,	PUNCT
gujaf-378	235	18	2025	2025	NUM
gujaf-378	235	19	201	201	NUM
gujaf-378	235	20	dontoh	dontoh	NOUN
gujaf-378	235	21	,	,	PUNCT
gujaf-378	235	22	a.	a.	PROPN
gujaf-378	235	23	,	,	PUNCT
gujaf-378	235	24	radhakrishnan	radhakrishnan	PROPN
gujaf-378	235	25	,	,	PUNCT
gujaf-378	235	26	s.	s.	PROPN
gujaf-378	235	27	,	,	PUNCT
gujaf-378	235	28	&	&	CCONJ
gujaf-378	235	29	ronen	ronen	PROPN
gujaf-378	235	30	,	,	PUNCT
gujaf-378	235	31	j.	j.	PROPN
gujaf-378	235	32	(	(	PUNCT
gujaf-378	235	33	2004	2004	NUM
gujaf-378	235	34	)	)	PUNCT
gujaf-378	235	35	.	.	PUNCT
gujaf-378	236	1	the	the	DET
gujaf-378	236	2	declining	decline	VERB
gujaf-378	236	3	value‐relevance	value‐relevance	NOUN
gujaf-378	236	4	of	of	ADP
gujaf-378	236	5	accounting	accounting	NOUN
gujaf-378	236	6	information	information	NOUN
gujaf-378	236	7	and	and	CCONJ
gujaf-378	236	8	non‐information‐based	non‐information‐base	VERB
gujaf-378	236	9	trading	trading	NOUN
gujaf-378	236	10	:	:	PUNCT
gujaf-378	236	11	an	an	DET
gujaf-378	236	12	empirical	empirical	ADJ
gujaf-378	236	13	analysis	analysis	NOUN
gujaf-378	236	14	.	.	PUNCT
gujaf-378	237	1	contemporary	contemporary	ADJ
gujaf-378	237	2	accounting	accounting	NOUN
gujaf-378	237	3	research	research	PROPN
gujaf-378	237	4	,	,	PUNCT
gujaf-378	237	5	21(4	21(4	NUM
gujaf-378	237	6	)	)	PUNCT
gujaf-378	237	7	,	,	PUNCT
gujaf-378	237	8	795–812	795–812	NUM
gujaf-378	237	9	.	.	PUNCT
gujaf-378	238	1	eachempati	eachempati	PROPN
gujaf-378	238	2	,	,	PUNCT
gujaf-378	238	3	p.	p.	PROPN
gujaf-378	238	4	,	,	PUNCT
gujaf-378	238	5	ranjan	ranjan	PROPN
gujaf-378	238	6	srivastava	srivastava	PROPN
gujaf-378	238	7	,	,	PUNCT
gujaf-378	238	8	p.	p.	PROPN
gujaf-378	238	9	,	,	PUNCT
gujaf-378	238	10	kumar	kumar	PROPN
gujaf-378	238	11	,	,	PUNCT
gujaf-378	238	12	a.	a.	PROPN
gujaf-378	238	13	,	,	PUNCT
gujaf-378	238	14	hua	hua	PROPN
gujaf-378	238	15	tan	tan	PROPN
gujaf-378	238	16	,	,	PUNCT
gujaf-378	238	17	k.	k.	PROPN
gujaf-378	238	18	,	,	PUNCT
gujaf-378	238	19	&	&	CCONJ
gujaf-378	238	20	gupta	gupta	PROPN
gujaf-378	238	21	,	,	PUNCT
gujaf-378	238	22	s.	s.	PROPN
gujaf-378	238	23	(	(	PUNCT
gujaf-378	238	24	2021	2021	NUM
gujaf-378	238	25	)	)	PUNCT
gujaf-378	238	26	.	.	PUNCT
gujaf-378	239	1	validating	validate	VERB
gujaf-378	239	2	the	the	DET
gujaf-378	239	3	impact	impact	NOUN
gujaf-378	239	4	of	of	ADP
gujaf-378	239	5	accounting	accounting	NOUN
gujaf-378	239	6	disclosures	disclosure	NOUN
gujaf-378	239	7	on	on	ADP
gujaf-378	239	8	stock	stock	NOUN
gujaf-378	239	9	market	market	NOUN
gujaf-378	239	10	:	:	PUNCT
gujaf-378	239	11	a	a	DET
gujaf-378	239	12	deep	deep	ADJ
gujaf-378	239	13	neural	neural	ADJ
gujaf-378	239	14	network	network	NOUN
gujaf-378	239	15	approach	approach	NOUN
gujaf-378	239	16	.	.	PUNCT
gujaf-378	240	1	eugene	eugene	PROPN
gujaf-378	240	2	f.	f.	PROPN
gujaf-378	240	3	fama	fama	PROPN
gujaf-378	240	4	.	.	PUNCT
gujaf-378	241	1	(	(	PUNCT
gujaf-378	241	2	1970	1970	NUM
gujaf-378	241	3	)	)	PUNCT
gujaf-378	241	4	.	.	PUNCT
gujaf-378	242	1	efficient	efficient	ADJ
gujaf-378	242	2	capital	capital	NOUN
gujaf-378	242	3	market	market	NOUN
gujaf-378	242	4	:	:	PUNCT
gujaf-378	242	5	a	a	DET
gujaf-378	242	6	review	review	NOUN
gujaf-378	242	7	of	of	ADP
gujaf-378	242	8	theory	theory	NOUN
gujaf-378	242	9	and	and	CCONJ
gujaf-378	242	10	empirical	empirical	ADJ
gujaf-378	242	11	work	work	NOUN
gujaf-378	242	12	.	.	PUNCT
gujaf-378	243	1	the	the	DET
gujaf-378	243	2	journal	journal	PROPN
gujaf-378	243	3	of	of	ADP
gujaf-378	243	4	finance	finance	NOUN
gujaf-378	243	5	,	,	PUNCT
gujaf-378	243	6	25	25	NUM
gujaf-378	243	7	,	,	PUNCT
gujaf-378	243	8	383–417	383–417	NUM
gujaf-378	243	9	.	.	PUNCT
gujaf-378	244	1	gordon	gordon	PROPN
gujaf-378	244	2	,	,	PUNCT
gujaf-378	244	3	m.	m.	NOUN
gujaf-378	244	4	j.	j.	PROPN
gujaf-378	244	5	(	(	PUNCT
gujaf-378	244	6	1959	1959	NUM
gujaf-378	244	7	)	)	PUNCT
gujaf-378	244	8	.	.	PUNCT
gujaf-378	245	1	dividends	dividend	NOUN
gujaf-378	245	2	,	,	PUNCT
gujaf-378	245	3	earnings	earning	NOUN
gujaf-378	245	4	,	,	PUNCT
gujaf-378	245	5	and	and	CCONJ
gujaf-378	245	6	stock	stock	NOUN
gujaf-378	245	7	prices	price	NOUN
gujaf-378	245	8	.	.	PUNCT
gujaf-378	246	1	the	the	DET
gujaf-378	246	2	review	review	NOUN
gujaf-378	246	3	of	of	ADP
gujaf-378	246	4	economics	economic	NOUN
gujaf-378	246	5	and	and	CCONJ
gujaf-378	246	6	statistics	statistic	NOUN
gujaf-378	246	7	,	,	PUNCT
gujaf-378	246	8	99–105	99–105	PROPN
gujaf-378	246	9	.	.	PUNCT
gujaf-378	246	10	imhanzenobe	imhanzenobe	PROPN
gujaf-378	246	11	,	,	PUNCT
gujaf-378	246	12	j.	j.	PROPN
gujaf-378	246	13	(	(	PUNCT
gujaf-378	246	14	2022	2022	NUM
gujaf-378	246	15	)	)	PUNCT
gujaf-378	246	16	.	.	PUNCT
gujaf-378	247	1	value	value	NOUN
gujaf-378	247	2	relevance	relevance	NOUN
gujaf-378	247	3	and	and	CCONJ
gujaf-378	247	4	changes	change	NOUN
gujaf-378	247	5	in	in	ADP
gujaf-378	247	6	accounting	accounting	NOUN
gujaf-378	247	7	standards	standard	NOUN
gujaf-378	247	8	:	:	PUNCT
gujaf-378	247	9	a	a	DET
gujaf-378	247	10	review	review	NOUN
gujaf-378	247	11	of	of	ADP
gujaf-378	247	12	the	the	DET
gujaf-378	247	13	ifrs	ifrs	PROPN
gujaf-378	247	14	adoption	adoption	NOUN
gujaf-378	247	15	literature	literature	PROPN
gujaf-378	247	16	.	.	PUNCT
gujaf-378	248	1	cogent	cogent	NOUN
gujaf-378	248	2	business	business	PROPN
gujaf-378	248	3	&	&	CCONJ
gujaf-378	248	4	management	management	PROPN
gujaf-378	248	5	,	,	PUNCT
gujaf-378	248	6	9(1	9(1	NUM
gujaf-378	248	7	)	)	PUNCT
gujaf-378	248	8	,	,	PUNCT
gujaf-378	248	9	2039057	2039057	NUM
gujaf-378	248	10	.	.	PUNCT
gujaf-378	249	1	khalid	khalid	PROPN
gujaf-378	249	2	ahmed	ahmed	PROPN
gujaf-378	249	3	.	.	PUNCT
gujaf-378	250	1	(	(	PUNCT
gujaf-378	250	2	2024	2024	NUM
gujaf-378	250	3	,	,	PUNCT
gujaf-378	250	4	january	january	PROPN
gujaf-378	250	5	6	6	NUM
gujaf-378	250	6	)	)	PUNCT
gujaf-378	250	7	.	.	PUNCT
gujaf-378	251	1	random	random	ADJ
gujaf-378	251	2	effects	effect	NOUN
gujaf-378	251	3	model	model	VERB
gujaf-378	251	4	what	what	PRON
gujaf-378	251	5	is	be	AUX
gujaf-378	251	6	it	it	PRON
gujaf-378	251	7	,	,	PUNCT
gujaf-378	251	8	examples	example	NOUN
gujaf-378	251	9	,	,	PUNCT
gujaf-378	251	10	vs	vs	ADP
gujaf-378	251	11	fixed	fix	VERB
gujaf-378	251	12	effects	effect	NOUN
gujaf-378	251	13	.	.	PUNCT
gujaf-378	252	1	wallstreetmojo	wallstreetmojo	NOUN
gujaf-378	252	2	.	.	PUNCT
gujaf-378	253	1	https://www.wallstreetmojo.com/random-effects-model/#hrandom-effects-model-vs-fixed-effects-model	https://www.wallstreetmojo.com/random-effects-model/#hrandom-effects-model-vs-fixed-effects-model	ADJ
gujaf-378	253	2	lerman	lerman	NOUN
gujaf-378	253	3	,	,	PUNCT
gujaf-378	253	4	a.	a.	NOUN
gujaf-378	253	5	(	(	PUNCT
gujaf-378	253	6	2011	2011	NUM
gujaf-378	253	7	)	)	PUNCT
gujaf-378	253	8	.	.	PUNCT
gujaf-378	254	1	individual	individual	ADJ
gujaf-378	254	2	investors	investor	NOUN
gujaf-378	254	3	’	’	PART
gujaf-378	254	4	attention	attention	NOUN
gujaf-378	254	5	to	to	ADP
gujaf-378	254	6	accounting	accounting	NOUN
gujaf-378	254	7	information	information	NOUN
gujaf-378	254	8	:	:	PUNCT
gujaf-378	254	9	message	message	NOUN
gujaf-378	254	10	board	board	NOUN
gujaf-378	254	11	discussions	discussion	NOUN
gujaf-378	254	12	.	.	PUNCT
gujaf-378	255	1	new	new	PROPN
gujaf-378	255	2	york	york	PROPN
gujaf-378	255	3	university	university	PROPN
gujaf-378	255	4	,	,	PUNCT
gujaf-378	255	5	graduate	graduate	NOUN
gujaf-378	255	6	school	school	NOUN
gujaf-378	255	7	of	of	ADP
gujaf-378	255	8	business	business	PROPN
gujaf-378	255	9	administration	administration	PROPN
gujaf-378	255	10	.	.	PUNCT
gujaf-378	256	1	lintner	lintner	PROPN
gujaf-378	256	2	,	,	PUNCT
gujaf-378	256	3	j.	j.	PROPN
gujaf-378	256	4	(	(	PUNCT
gujaf-378	256	5	1962	1962	NUM
gujaf-378	256	6	)	)	PUNCT
gujaf-378	256	7	.	.	PUNCT
gujaf-378	257	1	dividends	dividend	NOUN
gujaf-378	257	2	,	,	PUNCT
gujaf-378	257	3	earnings	earning	NOUN
gujaf-378	257	4	,	,	PUNCT
gujaf-378	257	5	leverage	leverage	NOUN
gujaf-378	257	6	,	,	PUNCT
gujaf-378	257	7	stock	stock	NOUN
gujaf-378	257	8	prices	price	NOUN
gujaf-378	257	9	and	and	CCONJ
gujaf-378	257	10	the	the	DET
gujaf-378	257	11	supply	supply	NOUN
gujaf-378	257	12	of	of	ADP
gujaf-378	257	13	capital	capital	NOUN
gujaf-378	257	14	to	to	ADP
gujaf-378	257	15	corporations	corporation	NOUN
gujaf-378	257	16	.	.	PUNCT
gujaf-378	258	1	the	the	DET
gujaf-378	258	2	review	review	NOUN
gujaf-378	258	3	of	of	ADP
gujaf-378	258	4	economics	economic	NOUN
gujaf-378	258	5	and	and	CCONJ
gujaf-378	258	6	statistics	statistic	NOUN
gujaf-378	258	7	,	,	PUNCT
gujaf-378	258	8	243–269	243–269	NUM
gujaf-378	258	9	.	.	PUNCT
gujaf-378	259	1	lukkarinen	lukkarinen	ADJ
gujaf-378	259	2	,	,	PUNCT
gujaf-378	259	3	a.	a.	NOUN
gujaf-378	259	4	(	(	PUNCT
gujaf-378	259	5	2020	2020	NUM
gujaf-378	259	6	)	)	PUNCT
gujaf-378	259	7	.	.	PUNCT
gujaf-378	260	1	equity	equity	NOUN
gujaf-378	260	2	crowdfunding	crowdfunding	PROPN
gujaf-378	260	3	:	:	PUNCT
gujaf-378	260	4	principles	principle	NOUN
gujaf-378	260	5	and	and	CCONJ
gujaf-378	260	6	investor	investor	NOUN
gujaf-378	260	7	behaviour	behaviour	NOUN
gujaf-378	260	8	.	.	PUNCT
gujaf-378	261	1	advances	advance	NOUN
gujaf-378	261	2	in	in	ADP
gujaf-378	261	3	crowdfunding	crowdfunding	NOUN
gujaf-378	261	4	:	:	PUNCT
gujaf-378	261	5	research	research	NOUN
gujaf-378	261	6	and	and	CCONJ
gujaf-378	261	7	practice	practice	NOUN
gujaf-378	261	8	,	,	PUNCT
gujaf-378	261	9	93–118	93–118	NUM
gujaf-378	261	10	.	.	PUNCT
gujaf-378	262	1	miller	miller	PROPN
gujaf-378	262	2	,	,	PUNCT
gujaf-378	262	3	m.	m.	PROPN
gujaf-378	262	4	h.	h.	PROPN
gujaf-378	262	5	,	,	PUNCT
gujaf-378	262	6	&	&	CCONJ
gujaf-378	262	7	rock	rock	PROPN
gujaf-378	262	8	,	,	PUNCT
gujaf-378	262	9	k.	k.	PROPN
gujaf-378	262	10	(	(	PUNCT
gujaf-378	262	11	1985	1985	NUM
gujaf-378	262	12	)	)	PUNCT
gujaf-378	262	13	.	.	PUNCT
gujaf-378	263	1	dividend	dividend	NOUN
gujaf-378	263	2	policy	policy	NOUN
gujaf-378	263	3	under	under	ADP
gujaf-378	263	4	asymmetric	asymmetric	ADJ
gujaf-378	263	5	information	information	NOUN
gujaf-378	263	6	.	.	PUNCT
gujaf-378	264	1	the	the	DET
gujaf-378	264	2	journal	journal	PROPN
gujaf-378	264	3	of	of	ADP
gujaf-378	264	4	finance	finance	NOUN
gujaf-378	264	5	,	,	PUNCT
gujaf-378	264	6	40(4	40(4	NUM
gujaf-378	264	7	)	)	PUNCT
gujaf-378	264	8	,	,	PUNCT
gujaf-378	264	9	1031–1051	1031–1051	NUM
gujaf-378	264	10	.	.	PUNCT
gujaf-378	264	11	mostafa	mostafa	PROPN
gujaf-378	264	12	,	,	PUNCT
gujaf-378	264	13	w.	w.	PROPN
gujaf-378	264	14	(	(	PUNCT
gujaf-378	264	15	2016	2016	NUM
gujaf-378	264	16	)	)	PUNCT
gujaf-378	264	17	.	.	PUNCT
gujaf-378	265	1	the	the	DET
gujaf-378	265	2	value	value	NOUN
gujaf-378	265	3	relevance	relevance	NOUN
gujaf-378	265	4	of	of	ADP
gujaf-378	265	5	earnings	earning	NOUN
gujaf-378	265	6	,	,	PUNCT
gujaf-378	265	7	cash	cash	NOUN
gujaf-378	265	8	flows	flow	NOUN
gujaf-378	265	9	,	,	PUNCT
gujaf-378	265	10	and	and	CCONJ
gujaf-378	265	11	book	book	NOUN
gujaf-378	265	12	values	value	NOUN
gujaf-378	265	13	in	in	ADP
gujaf-378	265	14	egypt	egypt	PROPN
gujaf-378	265	15	.	.	PUNCT
gujaf-378	266	1	management	management	NOUN
gujaf-378	266	2	research	research	PROPN
gujaf-378	266	3	review	review	NOUN
gujaf-378	266	4	,	,	PUNCT
gujaf-378	266	5	39(12	39(12	NUM
gujaf-378	266	6	)	)	PUNCT
gujaf-378	266	7	,	,	PUNCT
gujaf-378	266	8	1752–1778	1752–1778	NUM
gujaf-378	266	9	.	.	PUNCT
gujaf-378	267	1	nse.com	nse.com	X
gujaf-378	267	2	.	.	PUNCT
gujaf-378	268	1	(	(	PUNCT
gujaf-378	268	2	n.d	n.d	PROPN
gujaf-378	268	3	.	.	PROPN
gujaf-378	268	4	)	)	PUNCT
gujaf-378	268	5	.	.	PUNCT
gujaf-378	269	1	about	about	ADP
gujaf-378	269	2	nse	nse	NOUN
gujaf-378	269	3	nairobi	nairobi	PROPN
gujaf-378	269	4	securities	securities	PROPN
gujaf-378	269	5	exchange	exchange	PROPN
gujaf-378	269	6	plc	plc	PROPN
gujaf-378	269	7	.	.	PROPN
gujaf-378	269	8	retrieved	retrieve	VERB
gujaf-378	269	9	september	september	PROPN
gujaf-378	269	10	28	28	NUM
gujaf-378	269	11	,	,	PUNCT
gujaf-378	269	12	2024	2024	NUM
gujaf-378	269	13	,	,	PUNCT
gujaf-378	269	14	from	from	ADP
gujaf-378	269	15	https://www.nse.co.ke/about-nse/	https://www.nse.co.ke/about-nse/	PROPN
gujaf-378	269	16	nwakuya	nwakuya	NOUN
gujaf-378	269	17	,	,	PUNCT
gujaf-378	269	18	m.	m.	NOUN
gujaf-378	269	19	t.	t.	PROPN
gujaf-378	269	20	,	,	PUNCT
gujaf-378	269	21	&	&	CCONJ
gujaf-378	269	22	ijomah	ijomah	NOUN
gujaf-378	269	23	,	,	PUNCT
gujaf-378	269	24	m.	m.	NOUN
gujaf-378	269	25	a.	a.	NOUN
gujaf-378	269	26	(	(	PUNCT
gujaf-378	269	27	2017	2017	NUM
gujaf-378	269	28	)	)	PUNCT
gujaf-378	269	29	.	.	PUNCT
gujaf-378	270	1	fixed	fix	VERB
gujaf-378	270	2	effect	effect	NOUN
gujaf-378	270	3	versus	versus	ADP
gujaf-378	270	4	random	random	ADJ
gujaf-378	270	5	effects	effect	NOUN
gujaf-378	270	6	modeling	modeling	NOUN
gujaf-378	270	7	in	in	ADP
gujaf-378	270	8	a	a	DET
gujaf-378	270	9	panel	panel	NOUN
gujaf-378	270	10	data	datum	NOUN
gujaf-378	270	11	analysis	analysis	NOUN
gujaf-378	270	12	:	:	PUNCT
gujaf-378	270	13	a	a	DET
gujaf-378	270	14	consideration	consideration	NOUN
gujaf-378	270	15	of	of	ADP
gujaf-378	270	16	economic	economic	ADJ
gujaf-378	270	17	and	and	CCONJ
gujaf-378	270	18	political	political	ADJ
gujaf-378	270	19	indicators	indicator	NOUN
gujaf-378	270	20	in	in	ADP
gujaf-378	270	21	six	six	NUM
gujaf-378	270	22	african	african	ADJ
gujaf-378	270	23	countries	country	NOUN
gujaf-378	270	24	.	.	PUNCT
gujaf-378	271	1	international	international	ADJ
gujaf-378	271	2	journal	journal	PROPN
gujaf-378	271	3	of	of	ADP
gujaf-378	271	4	statistics	statistic	NOUN
gujaf-378	271	5	and	and	CCONJ
gujaf-378	271	6	applications	application	NOUN
gujaf-378	271	7	,	,	PUNCT
gujaf-378	271	8	7(6	7(6	NUM
gujaf-378	271	9	)	)	PUNCT
gujaf-378	271	10	,	,	PUNCT
gujaf-378	271	11	275–279	275–279	NUM
gujaf-378	271	12	.	.	PUNCT
gujaf-378	272	1	obaidat	obaidat	NOUN
gujaf-378	272	2	,	,	PUNCT
gujaf-378	272	3	a.	a.	NOUN
gujaf-378	272	4	n.	n.	NOUN
gujaf-378	272	5	(	(	PUNCT
gujaf-378	272	6	2016	2016	NUM
gujaf-378	272	7	)	)	PUNCT
gujaf-378	272	8	.	.	PUNCT
gujaf-378	273	1	accounting	accounting	NOUN
gujaf-378	273	2	information	information	NOUN
gujaf-378	273	3	:	:	PUNCT
gujaf-378	273	4	which	which	DET
gujaf-378	273	5	information	information	NOUN
gujaf-378	273	6	attracts	attract	VERB
gujaf-378	273	7	investors	investor	NOUN
gujaf-378	273	8	'	'	PART
gujaf-378	273	9	attention	attention	NOUN
gujaf-378	273	10	first	first	ADV
gujaf-378	273	11	.	.	PUNCT
gujaf-378	274	1	accounting	accounting	NOUN
gujaf-378	274	2	and	and	CCONJ
gujaf-378	274	3	finance	finance	NOUN
gujaf-378	274	4	research	research	NOUN
gujaf-378	274	5	,	,	PUNCT
gujaf-378	274	6	5(3	5(3	NUM
gujaf-378	274	7	)	)	PUNCT
gujaf-378	274	8	,	,	PUNCT
gujaf-378	274	9	107–117	107–117	NUM
gujaf-378	274	10	.	.	PUNCT
gujaf-378	275	1	olugbenga	olugbenga	PROPN
gujaf-378	275	2	,	,	PUNCT
gujaf-378	275	3	a.	a.	NOUN
gujaf-378	275	4	a.	a.	PROPN
gujaf-378	275	5	,	,	PUNCT
gujaf-378	275	6	&	&	CCONJ
gujaf-378	275	7	atanda	atanda	PROPN
gujaf-378	275	8	,	,	PUNCT
gujaf-378	275	9	o.	o.	NOUN
gujaf-378	275	10	a.	a.	NOUN
gujaf-378	275	11	(	(	PUNCT
gujaf-378	275	12	2014	2014	NUM
gujaf-378	275	13	)	)	PUNCT
gujaf-378	275	14	.	.	PUNCT
gujaf-378	276	1	the	the	DET
gujaf-378	276	2	relationship	relationship	NOUN
gujaf-378	276	3	between	between	ADP
gujaf-378	276	4	financial	financial	ADJ
gujaf-378	276	5	accounting	accounting	NOUN
gujaf-378	276	6	information	information	NOUN
gujaf-378	276	7	and	and	CCONJ
gujaf-378	276	8	market	market	NOUN
gujaf-378	276	9	value	value	NOUN
gujaf-378	276	10	of	of	ADP
gujaf-378	276	11	firms	firm	NOUN
gujaf-378	276	12	.	.	PUNCT
gujaf-378	277	1	in	in	ADP
gujaf-378	277	2	global	global	ADJ
gujaf-378	277	3	journal	journal	PROPN
gujaf-378	277	4	of	of	ADP
gujaf-378	277	5	contemporary	contemporary	ADJ
gujaf-378	277	6	research	research	NOUN
gujaf-378	277	7	in	in	ADP
gujaf-378	277	8	accounting	accounting	NOUN
gujaf-378	277	9	,	,	PUNCT
gujaf-378	277	10	auditing	auditing	NOUN
gujaf-378	277	11	and	and	CCONJ
gujaf-378	277	12	business	business	NOUN
gujaf-378	277	13	ethics	ethic	NOUN
gujaf-378	277	14	(	(	PUNCT
gujaf-378	277	15	gjcra	gjcra	PROPN
gujaf-378	277	16	)	)	PUNCT
gujaf-378	277	17	an	an	DET
gujaf-378	277	18	online	online	ADJ
gujaf-378	277	19	international	international	ADJ
gujaf-378	277	20	monthly	monthly	ADJ
gujaf-378	277	21	journal	journal	NOUN
gujaf-378	277	22	(	(	PUNCT
gujaf-378	277	23	vol	vol	NOUN
gujaf-378	277	24	.	.	NOUN
gujaf-378	277	25	1	1	NUM
gujaf-378	277	26	)	)	PUNCT
gujaf-378	277	27	.	.	PUNCT
gujaf-378	278	1	www.globalbizresearch.org	www.globalbizresearch.org	PROPN
gujaf-378	278	2	onyango	onyango	PROPN
gujaf-378	278	3	odhiambo	odhiambo	PROPN
gujaf-378	278	4	,	,	PUNCT
gujaf-378	278	5	f.	f.	PROPN
gujaf-378	278	6	(	(	PUNCT
gujaf-378	278	7	2013	2013	NUM
gujaf-378	278	8	)	)	PUNCT
gujaf-378	278	9	.	.	PUNCT
gujaf-378	279	1	the	the	DET
gujaf-378	279	2	influence	influence	NOUN
gujaf-378	279	3	of	of	ADP
gujaf-378	279	4	dividends	dividend	NOUN
gujaf-378	279	5	and	and	CCONJ
gujaf-378	279	6	earnings	earning	NOUN
gujaf-378	279	7	announcements	announcement	NOUN
gujaf-378	279	8	on	on	ADP
gujaf-378	279	9	shareholders	shareholder	NOUN
gujaf-378	279	10	’	'	PUNCT
gujaf-378	279	11	value	value	NOUN
gujaf-378	279	12	of	of	ADP
gujaf-378	279	13	companies	company	NOUN
gujaf-378	279	14	listed	list	VERB
gujaf-378	279	15	at	at	ADP
gujaf-378	279	16	the	the	DET
gujaf-378	279	17	nairobi	nairobi	PROPN
gujaf-378	279	18	securities	securities	PROPN
gujaf-378	279	19	exchange	exchange	PROPN
gujaf-378	279	20	.	.	PUNCT
gujaf-378	280	1	gusau	gusau	ADJ
gujaf-378	280	2	journal	journal	PROPN
gujaf-378	280	3	of	of	ADP
gujaf-378	280	4	accounting	accounting	NOUN
gujaf-378	280	5	and	and	CCONJ
gujaf-378	280	6	finance	finance	NOUN
gujaf-378	280	7	,	,	PUNCT
gujaf-378	280	8	vol.6	vol.6	PROPN
gujaf-378	280	9	,	,	PUNCT
gujaf-378	280	10	issue	issue	NOUN
gujaf-378	280	11	1	1	NUM
gujaf-378	280	12	,	,	PUNCT
gujaf-378	280	13	april	april	PROPN
gujaf-378	280	14	,	,	PUNCT
gujaf-378	280	15	2025	2025	NUM
gujaf-378	280	16	202	202	NUM
gujaf-378	280	17	oscar	oscar	NOUN
gujaf-378	280	18	torresreyna	torresreyna	NOUN
gujaf-378	280	19	.	.	PUNCT
gujaf-378	281	1	(	(	PUNCT
gujaf-378	281	2	2007	2007	NUM
gujaf-378	281	3	,	,	PUNCT
gujaf-378	281	4	december	december	PROPN
gujaf-378	281	5	)	)	PUNCT
gujaf-378	281	6	.	.	PUNCT
gujaf-378	282	1	panel	panel	NOUN
gujaf-378	282	2	data	data	VERB
gujaf-378	282	3	analysis	analysis	NOUN
gujaf-378	282	4	fixed	fix	VERB
gujaf-378	282	5	and	and	CCONJ
gujaf-378	282	6	random	random	ADJ
gujaf-378	282	7	effects	effect	NOUN
gujaf-378	282	8	using	use	VERB
gujaf-378	282	9	stata	stata	NOUN
gujaf-378	282	10	.	.	PUNCT
gujaf-378	283	1	outa	outa	ADJ
gujaf-378	283	2	,	,	PUNCT
gujaf-378	283	3	e.	e.	PROPN
gujaf-378	283	4	r.	r.	PROPN
gujaf-378	283	5	,	,	PUNCT
gujaf-378	283	6	ozili	ozili	NOUN
gujaf-378	283	7	,	,	PUNCT
gujaf-378	283	8	p.	p.	PROPN
gujaf-378	283	9	,	,	PUNCT
gujaf-378	283	10	&	&	CCONJ
gujaf-378	283	11	eisenberg	eisenberg	PROPN
gujaf-378	283	12	,	,	PUNCT
gujaf-378	283	13	p.	p.	NOUN
gujaf-378	283	14	(	(	PUNCT
gujaf-378	283	15	2017	2017	NUM
gujaf-378	283	16	)	)	PUNCT
gujaf-378	283	17	.	.	PUNCT
gujaf-378	284	1	ifrs	ifrs	PROPN
gujaf-378	284	2	convergence	convergence	NOUN
gujaf-378	284	3	and	and	CCONJ
gujaf-378	284	4	revisions	revision	NOUN
gujaf-378	284	5	:	:	PUNCT
gujaf-378	284	6	value	value	NOUN
gujaf-378	284	7	relevance	relevance	NOUN
gujaf-378	284	8	of	of	ADP
gujaf-378	284	9	accounting	accounting	NOUN
gujaf-378	284	10	information	information	NOUN
gujaf-378	284	11	from	from	ADP
gujaf-378	284	12	east	east	PROPN
gujaf-378	284	13	africa	africa	PROPN
gujaf-378	284	14	.	.	PUNCT
gujaf-378	285	1	journal	journal	PROPN
gujaf-378	285	2	of	of	ADP
gujaf-378	285	3	accounting	account	VERB
gujaf-378	285	4	in	in	ADP
gujaf-378	285	5	emerging	emerge	VERB
gujaf-378	285	6	economies	economy	NOUN
gujaf-378	285	7	,	,	PUNCT
gujaf-378	285	8	7(3	7(3	NUM
gujaf-378	285	9	)	)	PUNCT
gujaf-378	285	10	,	,	PUNCT
gujaf-378	285	11	352–368	352–368	NUM
gujaf-378	285	12	.	.	PUNCT
gujaf-378	286	1	pelekh	pelekh	PROPN
gujaf-378	286	2	,	,	PUNCT
gujaf-378	286	3	u.	u.	PROPN
gujaf-378	286	4	,	,	PUNCT
gujaf-378	286	5	khocha	khocha	PROPN
gujaf-378	286	6	,	,	PUNCT
gujaf-378	286	7	n.	n.	NOUN
gujaf-378	286	8	,	,	PUNCT
gujaf-378	286	9	&	&	CCONJ
gujaf-378	286	10	holovchak	holovchak	PROPN
gujaf-378	286	11	,	,	PUNCT
gujaf-378	286	12	h.	h.	PROPN
gujaf-378	286	13	(	(	PUNCT
gujaf-378	286	14	2020	2020	NUM
gujaf-378	286	15	)	)	PUNCT
gujaf-378	286	16	.	.	PUNCT
gujaf-378	287	1	financial	financial	ADJ
gujaf-378	287	2	statements	statement	NOUN
gujaf-378	287	3	as	as	ADP
gujaf-378	287	4	a	a	DET
gujaf-378	287	5	management	management	NOUN
gujaf-378	287	6	tool	tool	NOUN
gujaf-378	287	7	.	.	PUNCT
gujaf-378	288	1	management	management	NOUN
gujaf-378	288	2	science	science	NOUN
gujaf-378	288	3	letters	letter	NOUN
gujaf-378	288	4	,	,	PUNCT
gujaf-378	288	5	10(1	10(1	NUM
gujaf-378	288	6	)	)	PUNCT
gujaf-378	288	7	,	,	PUNCT
gujaf-378	288	8	197–208	197–208	NUM
gujaf-378	288	9	.	.	PUNCT
gujaf-378	289	1	perera	perera	PROPN
gujaf-378	289	2	,	,	PUNCT
gujaf-378	289	3	r.	r.	PROPN
gujaf-378	289	4	,	,	PUNCT
gujaf-378	289	5	&	&	CCONJ
gujaf-378	289	6	thrikawala	thrikawala	PROPN
gujaf-378	289	7	,	,	PUNCT
gujaf-378	289	8	s.	s.	PROPN
gujaf-378	289	9	s.	s.	PROPN
gujaf-378	289	10	(	(	PUNCT
gujaf-378	289	11	2010	2010	NUM
gujaf-378	289	12	)	)	PUNCT
gujaf-378	289	13	.	.	PUNCT
gujaf-378	290	1	an	an	DET
gujaf-378	290	2	empirical	empirical	ADJ
gujaf-378	290	3	study	study	NOUN
gujaf-378	290	4	of	of	ADP
gujaf-378	290	5	the	the	DET
gujaf-378	290	6	relevance	relevance	NOUN
gujaf-378	290	7	of	of	ADP
gujaf-378	290	8	accounting	account	VERB
gujaf-378	290	9	information	information	NOUN
gujaf-378	290	10	to	to	ADP
gujaf-378	290	11	investors	investor	NOUN
gujaf-378	290	12	’	’	PART
gujaf-378	290	13	decisions	decision	NOUN
gujaf-378	290	14	.	.	PUNCT
gujaf-378	291	1	rizka	rizka	PROPN
gujaf-378	291	2	zulfikar	zulfikar	PROPN
gujaf-378	291	3	.	.	PUNCT
gujaf-378	292	1	(	(	PUNCT
gujaf-378	292	2	2018	2018	NUM
gujaf-378	292	3	)	)	PUNCT
gujaf-378	292	4	.	.	PUNCT
gujaf-378	293	1	estimation	estimation	NOUN
gujaf-378	293	2	model	model	NOUN
gujaf-378	293	3	and	and	CCONJ
gujaf-378	293	4	selection	selection	NOUN
gujaf-378	293	5	method	method	NOUN
gujaf-378	293	6	of	of	ADP
gujaf-378	293	7	panel	panel	NOUN
gujaf-378	293	8	data	datum	NOUN
gujaf-378	293	9	regression	regression	NOUN
gujaf-378	293	10	:	:	PUNCT
gujaf-378	293	11	an	an	DET
gujaf-378	293	12	overview	overview	NOUN
gujaf-378	293	13	of	of	ADP
gujaf-378	293	14	common	common	ADJ
gujaf-378	293	15	effect	effect	NOUN
gujaf-378	293	16	,	,	PUNCT
gujaf-378	293	17	fixed	fixed	ADJ
gujaf-378	293	18	effect	effect	NOUN
gujaf-378	293	19	,	,	PUNCT
gujaf-378	293	20	and	and	CCONJ
gujaf-378	293	21	random	random	ADJ
gujaf-378	293	22	effect	effect	NOUN
gujaf-378	293	23	model	model	NOUN
gujaf-378	293	24	.	.	PUNCT
gujaf-378	294	1	salman	salman	PROPN
gujaf-378	294	2	,	,	PUNCT
gujaf-378	294	3	r.	r.	PROPN
gujaf-378	294	4	,	,	PUNCT
gujaf-378	294	5	abogun	abogun	PROPN
gujaf-378	294	6	,	,	PUNCT
gujaf-378	294	7	s.	s.	PROPN
gujaf-378	294	8	,	,	PUNCT
gujaf-378	294	9	lambo	lambo	PROPN
gujaf-378	294	10	,	,	PUNCT
gujaf-378	294	11	i.	i.	PROPN
gujaf-378	294	12	a.	a.	PROPN
gujaf-378	294	13	,	,	PUNCT
gujaf-378	294	14	yunus	yunus	PROPN
gujaf-378	294	15	,	,	PUNCT
gujaf-378	294	16	a.	a.	PROPN
gujaf-378	294	17	b.	b.	PROPN
gujaf-378	294	18	,	,	PUNCT
gujaf-378	294	19	&	&	CCONJ
gujaf-378	294	20	sanni	sanni	PROPN
gujaf-378	294	21	,	,	PUNCT
gujaf-378	294	22	p.	p.	NOUN
gujaf-378	294	23	a.	a.	NOUN
gujaf-378	294	24	(	(	PUNCT
gujaf-378	294	25	2024	2024	NUM
gujaf-378	294	26	)	)	PUNCT
gujaf-378	294	27	.	.	PUNCT
gujaf-378	295	1	impact	impact	NOUN
gujaf-378	295	2	of	of	ADP
gujaf-378	295	3	financial	financial	ADJ
gujaf-378	295	4	statements	statement	NOUN
gujaf-378	295	5	information	information	NOUN
gujaf-378	295	6	on	on	ADP
gujaf-378	295	7	market	market	NOUN
gujaf-378	295	8	share	share	NOUN
gujaf-378	295	9	price	price	NOUN
gujaf-378	295	10	of	of	ADP
gujaf-378	295	11	listed	list	VERB
gujaf-378	295	12	insurance	insurance	NOUN
gujaf-378	295	13	firms	firm	NOUN
gujaf-378	295	14	in	in	ADP
gujaf-378	295	15	nigeria	nigeria	PROPN
gujaf-378	295	16	.	.	PUNCT
gujaf-378	296	1	fudma	fudma	PROPN
gujaf-378	296	2	journal	journal	PROPN
gujaf-378	296	3	of	of	ADP
gujaf-378	296	4	accounting	accounting	NOUN
gujaf-378	296	5	and	and	CCONJ
gujaf-378	296	6	finance	finance	NOUN
gujaf-378	296	7	research	research	NOUN
gujaf-378	297	1	[	[	X
gujaf-378	297	2	fujafr	fujafr	NOUN
gujaf-378	297	3	]	]	PUNCT
gujaf-378	297	4	,	,	PUNCT
gujaf-378	297	5	2(4	2(4	NUM
gujaf-378	297	6	)	)	PUNCT
gujaf-378	297	7	,	,	PUNCT
gujaf-378	297	8	111–121	111–121	NUM
gujaf-378	297	9	.	.	PUNCT
gujaf-378	298	1	tahat	tahat	PROPN
gujaf-378	298	2	,	,	PUNCT
gujaf-378	298	3	y.	y.	PROPN
gujaf-378	298	4	a.	a.	PROPN
gujaf-378	298	5	,	,	PUNCT
gujaf-378	298	6	&	&	CCONJ
gujaf-378	298	7	alhadab	alhadab	PROPN
gujaf-378	298	8	,	,	PUNCT
gujaf-378	298	9	m.	m.	NOUN
gujaf-378	298	10	(	(	PUNCT
gujaf-378	298	11	2017	2017	NUM
gujaf-378	298	12	)	)	PUNCT
gujaf-378	298	13	.	.	PUNCT
gujaf-378	299	1	have	have	AUX
gujaf-378	299	2	accounting	accounting	NOUN
gujaf-378	299	3	numbers	number	NOUN
gujaf-378	299	4	lost	lose	VERB
gujaf-378	299	5	their	their	PRON
gujaf-378	299	6	value	value	NOUN
gujaf-378	299	7	relevance	relevance	NOUN
gujaf-378	299	8	during	during	ADP
gujaf-378	299	9	the	the	DET
gujaf-378	299	10	recent	recent	ADJ
gujaf-378	299	11	financial	financial	ADJ
gujaf-378	299	12	credit	credit	NOUN
gujaf-378	299	13	crisis	crisis	NOUN
gujaf-378	299	14	?	?	PUNCT
gujaf-378	300	1	quarterly	quarterly	ADJ
gujaf-378	300	2	review	review	NOUN
gujaf-378	300	3	of	of	ADP
gujaf-378	300	4	economics	economic	NOUN
gujaf-378	300	5	and	and	CCONJ
gujaf-378	300	6	finance	finance	NOUN
gujaf-378	300	7	,	,	PUNCT
gujaf-378	300	8	66	66	NUM
gujaf-378	300	9	,	,	PUNCT
gujaf-378	300	10	182	182	NUM
gujaf-378	300	11	–	–	SYM
gujaf-378	300	12	191	191	NUM
gujaf-378	300	13	.	.	PUNCT
gujaf-378	301	1	torres	torre	NOUN
gujaf-378	301	2	-	-	PUNCT
gujaf-378	301	3	reyna	reyna	NOUN
gujaf-378	301	4	,	,	PUNCT
gujaf-378	301	5	o.	o.	NOUN
gujaf-378	301	6	(	(	PUNCT
gujaf-378	301	7	2007	2007	NUM
gujaf-378	301	8	)	)	PUNCT
gujaf-378	301	9	.	.	PUNCT
gujaf-378	302	1	panel	panel	NOUN
gujaf-378	302	2	data	data	VERB
gujaf-378	302	3	analysis	analysis	NOUN
gujaf-378	302	4	fixed	fix	VERB
gujaf-378	302	5	and	and	CCONJ
gujaf-378	302	6	random	random	ADJ
gujaf-378	302	7	effects	effect	NOUN
gujaf-378	302	8	using	use	VERB
gujaf-378	302	9	stata	stata	NOUN
gujaf-378	302	10	.	.	PUNCT
gujaf-378	303	1	http://www.princeton.edu/~otorres/	http://www.princeton.edu/~otorres/	PROPN