id	sid	tid	token	lemma	pos
gujaf-42	1	1	gusau	gusau	PROPN
gujaf-42	1	2	journal	journal	NOUN
gujaf-42	1	3	of	of	ADP
gujaf-42	1	4	accounting	accounting	NOUN
gujaf-42	1	5	and	and	CCONJ
gujaf-42	1	6	finance	finance	NOUN
gujaf-42	1	7	(	(	PUNCT
gujaf-42	1	8	gujaf	gujaf	NOUN
gujaf-42	1	9	)	)	PUNCT
gujaf-42	1	10	vol	vol	NOUN
gujaf-42	1	11	.	.	NOUN
gujaf-42	1	12	1	1	NUM
gujaf-42	1	13	issue	issue	NOUN
gujaf-42	1	14	2	2	NUM
gujaf-42	1	15	,	,	PUNCT
gujaf-42	1	16	october	october	PROPN
gujaf-42	1	17	,	,	PUNCT
gujaf-42	1	18	2020	2020	NUM
gujaf-42	1	19	issn	issn	VERB
gujaf-42	1	20	:	:	PUNCT
gujaf-42	1	21	2756	2756	NUM
gujaf-42	1	22	-	-	PUNCT
gujaf-42	1	23	665x	665x	NOUN
gujaf-42	1	24	a	a	DET
gujaf-42	1	25	publication	publication	NOUN
gujaf-42	1	26	of	of	ADP
gujaf-42	1	27	department	department	NOUN
gujaf-42	1	28	of	of	ADP
gujaf-42	1	29	accounting	accounting	NOUN
gujaf-42	1	30	and	and	CCONJ
gujaf-42	1	31	finance	finance	NOUN
gujaf-42	1	32	,	,	PUNCT
gujaf-42	1	33	faculty	faculty	NOUN
gujaf-42	1	34	of	of	ADP
gujaf-42	1	35	management	management	NOUN
gujaf-42	1	36	and	and	CCONJ
gujaf-42	1	37	social	social	ADJ
gujaf-42	1	38	sciences	science	NOUN
gujaf-42	1	39	,	,	PUNCT
gujaf-42	1	40	federal	federal	ADJ
gujaf-42	1	41	university	university	NOUN
gujaf-42	1	42	gusau	gusau	NOUN
gujaf-42	1	43	,	,	PUNCT
gujaf-42	1	44	zamfara	zamfara	PROPN
gujaf-42	1	45	state	state	PROPN
gujaf-42	1	46	–	–	PUNCT
gujaf-42	1	47	nigeria	nigeria	PROPN
gujaf-42	1	48	gusau	gusau	PROPN
gujaf-42	1	49	journal	journal	PROPN
gujaf-42	1	50	of	of	ADP
gujaf-42	1	51	accounting	accounting	NOUN
gujaf-42	1	52	and	and	CCONJ
gujaf-42	1	53	finance	finance	NOUN
gujaf-42	1	54	,	,	PUNCT
gujaf-42	1	55	vol	vol	NOUN
gujaf-42	1	56	.	.	PUNCT
gujaf-42	2	1	i	i	PRON
gujaf-42	2	2	,	,	PUNCT
gujaf-42	2	3	issue	issue	NOUN
gujaf-42	2	4	2	2	NUM
gujaf-42	2	5	,	,	PUNCT
gujaf-42	2	6	october	october	PROPN
gujaf-42	2	7	,	,	PUNCT
gujaf-42	2	8	2020	2020	NUM
gujaf-42	2	9	1	1	NUM
gujaf-42	2	10	nexus	nexus	NOUN
gujaf-42	2	11	between	between	ADP
gujaf-42	2	12	firms	firm	NOUN
gujaf-42	2	13	-	-	PUNCT
gujaf-42	2	14	specific	specific	ADJ
gujaf-42	2	15	characteristics	characteristic	NOUN
gujaf-42	2	16	and	and	CCONJ
gujaf-42	2	17	cash	cash	NOUN
gujaf-42	2	18	holding	holding	NOUN
gujaf-42	2	19	of	of	ADP
gujaf-42	2	20	listed	list	VERB
gujaf-42	2	21	manufacturing	manufacturing	NOUN
gujaf-42	2	22	firms	firm	NOUN
gujaf-42	2	23	in	in	ADP
gujaf-42	2	24	nigeria	nigeria	PROPN
gujaf-42	2	25	shehu	shehu	PROPN
gujaf-42	2	26	aliyu	aliyu	PROPN
gujaf-42	2	27	department	department	PROPN
gujaf-42	2	28	of	of	ADP
gujaf-42	2	29	accountancy	accountancy	PROPN
gujaf-42	2	30	federal	federal	PROPN
gujaf-42	2	31	polytechnic	polytechnic	PROPN
gujaf-42	2	32	kauran	kauran	ADJ
gujaf-42	2	33	namoda	namoda	PROPN
gujaf-42	2	34	zamfara	zamfara	PROPN
gujaf-42	2	35	state	state	PROPN
gujaf-42	2	36	+2340865667770	+2340865667770	PROPN
gujaf-42	2	37	,	,	PUNCT
gujaf-42	2	38	shuhualiyu1201@gmail.com	shuhualiyu1201@gmail.com	PROPN
gujaf-42	2	39	,	,	PUNCT
gujaf-42	2	40	ibrahim	ibrahim	PROPN
gujaf-42	2	41	shehu	shehu	PROPN
gujaf-42	2	42	nakazalle	nakazalle	PROPN
gujaf-42	2	43	department	department	PROPN
gujaf-42	2	44	of	of	ADP
gujaf-42	2	45	accountancy	accountancy	PROPN
gujaf-42	2	46	federal	federal	PROPN
gujaf-42	2	47	polytechnic	polytechnic	PROPN
gujaf-42	2	48	kauran	kauran	ADJ
gujaf-42	2	49	namoda	namoda	PROPN
gujaf-42	2	50	zamfara	zamfara	PROPN
gujaf-42	2	51	state	state	PROPN
gujaf-42	2	52	+2348064863333	+2348064863333	PROPN
gujaf-42	2	53	,	,	PUNCT
gujaf-42	2	54	ibrahimnakazalle@gmail.com	ibrahimnakazalle@gmail.com	X
gujaf-42	3	1	ibrahim	ibrahim	PROPN
gujaf-42	3	2	yusuf	yusuf	PROPN
gujaf-42	3	3	phd	phd	PROPN
gujaf-42	3	4	department	department	PROPN
gujaf-42	3	5	of	of	ADP
gujaf-42	3	6	accounting	accounting	PROPN
gujaf-42	3	7	abu	abu	PROPN
gujaf-42	3	8	business	business	PROPN
gujaf-42	3	9	school	school	PROPN
gujaf-42	3	10	ahmadu	ahmadu	PROPN
gujaf-42	3	11	bello	bello	PROPN
gujaf-42	3	12	university	university	NOUN
gujaf-42	3	13	,	,	PUNCT
gujaf-42	3	14	zaira	zaira	PROPN
gujaf-42	3	15	+2348036023501	+2348036023501	PROPN
gujaf-42	3	16	,	,	PUNCT
gujaf-42	3	17	ibrash78@gmail.com	ibrash78@gmail.com	X
gujaf-42	3	18	abstract	abstract	ADV
gujaf-42	3	19	this	this	DET
gujaf-42	3	20	paper	paper	NOUN
gujaf-42	3	21	aims	aim	VERB
gujaf-42	3	22	at	at	ADP
gujaf-42	3	23	shedding	shed	VERB
gujaf-42	3	24	light	light	NOUN
gujaf-42	3	25	on	on	ADP
gujaf-42	3	26	the	the	DET
gujaf-42	3	27	empirical	empirical	ADJ
gujaf-42	3	28	relationship	relationship	NOUN
gujaf-42	3	29	between	between	ADP
gujaf-42	3	30	cash	cash	NOUN
gujaf-42	3	31	holding	holding	NOUN
gujaf-42	3	32	and	and	CCONJ
gujaf-42	3	33	firm	firm	ADJ
gujaf-42	3	34	characteristics	characteristic	NOUN
gujaf-42	3	35	.	.	PUNCT
gujaf-42	4	1	the	the	DET
gujaf-42	4	2	population	population	NOUN
gujaf-42	4	3	of	of	ADP
gujaf-42	4	4	the	the	DET
gujaf-42	4	5	consist	consist	NOUN
gujaf-42	4	6	of	of	ADP
gujaf-42	4	7	51	51	NUM
gujaf-42	4	8	manufacturing	manufacturing	NOUN
gujaf-42	4	9	firms	firm	NOUN
gujaf-42	4	10	listed	list	VERB
gujaf-42	4	11	on	on	ADP
gujaf-42	4	12	the	the	DET
gujaf-42	4	13	nigeria	nigeria	PROPN
gujaf-42	4	14	stock	stock	PROPN
gujaf-42	4	15	exchange	exchange	PROPN
gujaf-42	4	16	,	,	PUNCT
gujaf-42	4	17	while	while	SCONJ
gujaf-42	4	18	the	the	DET
gujaf-42	4	19	adjusted	adjust	VERB
gujaf-42	4	20	population	population	NOUN
gujaf-42	4	21	of	of	ADP
gujaf-42	4	22	35	35	NUM
gujaf-42	4	23	firms	firm	NOUN
gujaf-42	4	24	was	be	AUX
gujaf-42	4	25	arrived	arrive	VERB
gujaf-42	4	26	based	base	VERB
gujaf-42	4	27	on	on	ADP
gujaf-42	4	28	availability	availability	NOUN
gujaf-42	4	29	of	of	ADP
gujaf-42	4	30	data	datum	NOUN
gujaf-42	4	31	.	.	PUNCT
gujaf-42	5	1	correlational	correlational	ADJ
gujaf-42	5	2	research	research	NOUN
gujaf-42	5	3	design	design	NOUN
gujaf-42	5	4	was	be	AUX
gujaf-42	5	5	adopted	adopt	VERB
gujaf-42	5	6	.	.	PUNCT
gujaf-42	6	1	the	the	DET
gujaf-42	6	2	study	study	NOUN
gujaf-42	6	3	was	be	AUX
gujaf-42	6	4	anchored	anchor	VERB
gujaf-42	6	5	on	on	ADP
gujaf-42	6	6	pecking	pecking	NOUN
gujaf-42	6	7	order	order	NOUN
gujaf-42	6	8	theory	theory	NOUN
gujaf-42	6	9	.	.	PUNCT
gujaf-42	7	1	multiple	multiple	ADJ
gujaf-42	7	2	regression	regression	NOUN
gujaf-42	7	3	was	be	AUX
gujaf-42	7	4	employed	employ	VERB
gujaf-42	7	5	to	to	PART
gujaf-42	7	6	analyse	analyse	VERB
gujaf-42	7	7	data	datum	NOUN
gujaf-42	7	8	extracted	extract	VERB
gujaf-42	7	9	from	from	ADP
gujaf-42	7	10	annual	annual	ADJ
gujaf-42	7	11	report	report	NOUN
gujaf-42	7	12	of	of	ADP
gujaf-42	7	13	selected	select	VERB
gujaf-42	7	14	manufacturing	manufacturing	NOUN
gujaf-42	7	15	firms	firm	NOUN
gujaf-42	7	16	in	in	ADP
gujaf-42	7	17	nigeria	nigeria	PROPN
gujaf-42	7	18	from	from	ADP
gujaf-42	7	19	the	the	DET
gujaf-42	7	20	period	period	NOUN
gujaf-42	7	21	of	of	ADP
gujaf-42	7	22	2012	2012	NUM
gujaf-42	7	23	to	to	ADP
gujaf-42	7	24	2019	2019	NUM
gujaf-42	7	25	.	.	PUNCT
gujaf-42	8	1	the	the	DET
gujaf-42	8	2	result	result	NOUN
gujaf-42	8	3	of	of	ADP
gujaf-42	8	4	the	the	DET
gujaf-42	8	5	findings	finding	NOUN
gujaf-42	8	6	shows	show	VERB
gujaf-42	8	7	that	that	SCONJ
gujaf-42	8	8	profitability	profitability	NOUN
gujaf-42	8	9	and	and	CCONJ
gujaf-42	8	10	networking	network	VERB
gujaf-42	8	11	capital	capital	NOUN
gujaf-42	8	12	have	have	VERB
gujaf-42	8	13	positive	positive	ADJ
gujaf-42	8	14	and	and	CCONJ
gujaf-42	8	15	significant	significant	ADJ
gujaf-42	8	16	relationship	relationship	NOUN
gujaf-42	8	17	on	on	ADP
gujaf-42	8	18	corporate	corporate	ADJ
gujaf-42	8	19	cash	cash	NOUN
gujaf-42	8	20	holding	holding	NOUN
gujaf-42	8	21	.	.	PUNCT
gujaf-42	9	1	however	however	ADV
gujaf-42	9	2	,	,	PUNCT
gujaf-42	9	3	negative	negative	ADJ
gujaf-42	9	4	and	and	CCONJ
gujaf-42	9	5	significant	significant	ADJ
gujaf-42	9	6	relationship	relationship	NOUN
gujaf-42	9	7	was	be	AUX
gujaf-42	9	8	found	find	VERB
gujaf-42	9	9	between	between	ADP
gujaf-42	9	10	leverage	leverage	NOUN
gujaf-42	9	11	and	and	CCONJ
gujaf-42	9	12	corporate	corporate	ADJ
gujaf-42	9	13	cash	cash	NOUN
gujaf-42	9	14	holding	holding	NOUN
gujaf-42	9	15	.	.	PUNCT
gujaf-42	10	1	in	in	ADP
gujaf-42	10	2	line	line	NOUN
gujaf-42	10	3	with	with	ADP
gujaf-42	10	4	the	the	DET
gujaf-42	10	5	findings	finding	NOUN
gujaf-42	10	6	,	,	PUNCT
gujaf-42	10	7	the	the	DET
gujaf-42	10	8	study	study	NOUN
gujaf-42	10	9	therefore	therefore	ADV
gujaf-42	10	10	recommends	recommend	VERB
gujaf-42	10	11	that	that	SCONJ
gujaf-42	10	12	managers	manager	NOUN
gujaf-42	10	13	of	of	ADP
gujaf-42	10	14	nigerian	nigerian	ADJ
gujaf-42	10	15	manufacturing	manufacturing	NOUN
gujaf-42	10	16	firms	firm	NOUN
gujaf-42	10	17	should	should	AUX
gujaf-42	10	18	develop	develop	VERB
gujaf-42	10	19	a	a	DET
gujaf-42	10	20	good	good	ADJ
gujaf-42	10	21	strategy	strategy	NOUN
gujaf-42	10	22	for	for	ADP
gujaf-42	10	23	earning	earn	VERB
gujaf-42	10	24	high	high	ADJ
gujaf-42	10	25	returns	return	NOUN
gujaf-42	10	26	from	from	ADP
gujaf-42	10	27	their	their	PRON
gujaf-42	10	28	assets	asset	NOUN
gujaf-42	10	29	since	since	SCONJ
gujaf-42	10	30	this	this	PRON
gujaf-42	10	31	has	have	VERB
gujaf-42	10	32	positive	positive	ADJ
gujaf-42	10	33	significant	significant	ADJ
gujaf-42	10	34	effect	effect	NOUN
gujaf-42	10	35	on	on	ADP
gujaf-42	10	36	cash	cash	NOUN
gujaf-42	10	37	holdings	holding	NOUN
gujaf-42	10	38	.	.	PUNCT
gujaf-42	11	1	they	they	PRON
gujaf-42	11	2	should	should	AUX
gujaf-42	11	3	avoid	avoid	VERB
gujaf-42	11	4	holding	hold	VERB
gujaf-42	11	5	excessive	excessive	ADJ
gujaf-42	11	6	cash	cash	NOUN
gujaf-42	11	7	reserves	reserve	NOUN
gujaf-42	11	8	as	as	SCONJ
gujaf-42	11	9	this	this	PRON
gujaf-42	11	10	might	might	AUX
gujaf-42	11	11	attract	attract	VERB
gujaf-42	11	12	scrutiny	scrutiny	NOUN
gujaf-42	11	13	from	from	ADP
gujaf-42	11	14	the	the	DET
gujaf-42	11	15	capital	capital	NOUN
gujaf-42	11	16	markets	market	NOUN
gujaf-42	11	17	.	.	PUNCT
gujaf-42	12	1	there	there	PRON
gujaf-42	12	2	should	should	AUX
gujaf-42	12	3	be	be	AUX
gujaf-42	12	4	an	an	DET
gujaf-42	12	5	optimal	optimal	ADJ
gujaf-42	12	6	trade	trade	NOUN
gujaf-42	12	7	-	-	PUNCT
gujaf-42	12	8	off	off	ADP
gujaf-42	12	9	approach	approach	NOUN
gujaf-42	12	10	to	to	ADP
gujaf-42	12	11	cash	cash	NOUN
gujaf-42	12	12	holdings	holding	NOUN
gujaf-42	12	13	,	,	PUNCT
gujaf-42	12	14	and	and	CCONJ
gujaf-42	12	15	also	also	ADV
gujaf-42	12	16	there	there	PRON
gujaf-42	12	17	should	should	AUX
gujaf-42	12	18	be	be	AUX
gujaf-42	12	19	a	a	DET
gujaf-42	12	20	hierarchy	hierarchy	NOUN
gujaf-42	12	21	explanation	explanation	NOUN
gujaf-42	12	22	for	for	ADP
gujaf-42	12	23	holding	hold	VERB
gujaf-42	12	24	excess	excess	ADJ
gujaf-42	12	25	cash	cash	NOUN
gujaf-42	12	26	.	.	PUNCT
gujaf-42	13	1	keywords	keyword	NOUN
gujaf-42	13	2	:	:	PUNCT
gujaf-42	13	3	cash	cash	NOUN
gujaf-42	13	4	-	-	PUNCT
gujaf-42	13	5	holding	holding	NOUN
gujaf-42	13	6	,	,	PUNCT
gujaf-42	13	7	pecking	pecking	NOUN
gujaf-42	13	8	order	order	NOUN
gujaf-42	13	9	theory	theory	NOUN
gujaf-42	13	10	and	and	CCONJ
gujaf-42	13	11	firm	firm	ADJ
gujaf-42	13	12	characteristics	characteristic	NOUN
gujaf-42	13	13	introduction	introduction	NOUN
gujaf-42	13	14	cash	cash	NOUN
gujaf-42	13	15	is	be	AUX
gujaf-42	13	16	very	very	ADV
gujaf-42	13	17	important	important	ADJ
gujaf-42	13	18	to	to	ADP
gujaf-42	13	19	the	the	DET
gujaf-42	13	20	going	go	VERB
gujaf-42	13	21	concern	concern	NOUN
gujaf-42	13	22	of	of	ADP
gujaf-42	13	23	the	the	DET
gujaf-42	13	24	firm	firm	NOUN
gujaf-42	13	25	.	.	PUNCT
gujaf-42	14	1	this	this	PRON
gujaf-42	14	2	is	be	AUX
gujaf-42	14	3	very	very	ADV
gujaf-42	14	4	crucial	crucial	ADJ
gujaf-42	14	5	to	to	ADP
gujaf-42	14	6	the	the	DET
gujaf-42	14	7	going	go	VERB
gujaf-42	14	8	concern	concern	NOUN
gujaf-42	14	9	of	of	ADP
gujaf-42	14	10	the	the	DET
gujaf-42	14	11	firm	firm	ADJ
gujaf-42	14	12	reason	reason	NOUN
gujaf-42	14	13	being	be	AUX
gujaf-42	14	14	that	that	DET
gujaf-42	14	15	cash	cash	NOUN
gujaf-42	14	16	and	and	CCONJ
gujaf-42	14	17	cash	cash	NOUN
gujaf-42	14	18	equivalent	equivalent	NOUN
gujaf-42	14	19	are	be	AUX
gujaf-42	14	20	liquid	liquid	ADJ
gujaf-42	14	21	mailto:shuhualiyu1201@gmail.com	mailto:shuhualiyu1201@gmail.com	X
gujaf-42	14	22	mailto:ibrahimnakazalle@gmail.com	mailto:ibrahimnakazalle@gmail.com	PROPN
gujaf-42	14	23	mailto:ibrash78@gmail.com	mailto:ibrash78@gmail.com	PROPN
gujaf-42	15	1	gusau	gusau	PROPN
gujaf-42	15	2	journal	journal	PROPN
gujaf-42	15	3	of	of	ADP
gujaf-42	15	4	accounting	accounting	NOUN
gujaf-42	15	5	and	and	CCONJ
gujaf-42	15	6	finance	finance	NOUN
gujaf-42	15	7	,	,	PUNCT
gujaf-42	15	8	vol	vol	NOUN
gujaf-42	15	9	.	.	PUNCT
gujaf-42	16	1	i	i	PRON
gujaf-42	16	2	,	,	PUNCT
gujaf-42	16	3	issue	issue	NOUN
gujaf-42	16	4	2	2	NUM
gujaf-42	16	5	,	,	PUNCT
gujaf-42	16	6	october	october	PROPN
gujaf-42	16	7	,	,	PUNCT
gujaf-42	16	8	2020	2020	NUM
gujaf-42	16	9	2	2	NUM
gujaf-42	16	10	assets	asset	NOUN
gujaf-42	16	11	meant	mean	VERB
gujaf-42	16	12	to	to	PART
gujaf-42	16	13	increase	increase	VERB
gujaf-42	16	14	shareholders	shareholder	NOUN
gujaf-42	16	15	value	value	NOUN
gujaf-42	16	16	by	by	ADP
gujaf-42	16	17	investing	invest	VERB
gujaf-42	16	18	in	in	ADP
gujaf-42	16	19	profitable	profitable	ADJ
gujaf-42	16	20	engagements	engagement	NOUN
gujaf-42	16	21	,	,	PUNCT
gujaf-42	16	22	drastically	drastically	ADV
gujaf-42	16	23	minimize	minimize	VERB
gujaf-42	16	24	cost	cost	NOUN
gujaf-42	16	25	,	,	PUNCT
gujaf-42	16	26	and	and	CCONJ
gujaf-42	16	27	the	the	DET
gujaf-42	16	28	peculiarity	peculiarity	NOUN
gujaf-42	16	29	of	of	ADP
gujaf-42	16	30	cash	cash	NOUN
gujaf-42	16	31	not	not	PART
gujaf-42	16	32	overlooked	overlook	VERB
gujaf-42	16	33	.	.	PUNCT
gujaf-42	17	1	cash	cash	NOUN
gujaf-42	17	2	hold	hold	NOUN
gujaf-42	17	3	,	,	PUNCT
gujaf-42	17	4	according	accord	VERB
gujaf-42	17	5	to	to	ADP
gujaf-42	17	6	gill	gill	NOUN
gujaf-42	17	7	and	and	CCONJ
gujaf-42	17	8	shah	shah	NOUN
gujaf-42	17	9	(	(	PUNCT
gujaf-42	17	10	2012	2012	NUM
gujaf-42	17	11	)	)	PUNCT
gujaf-42	17	12	,	,	PUNCT
gujaf-42	17	13	is	be	AUX
gujaf-42	17	14	defined	define	VERB
gujaf-42	17	15	as	as	ADP
gujaf-42	17	16	cash	cash	NOUN
gujaf-42	17	17	available	available	ADJ
gujaf-42	17	18	or	or	CCONJ
gujaf-42	17	19	available	available	ADJ
gujaf-42	17	20	to	to	PART
gujaf-42	17	21	invest	invest	VERB
gujaf-42	17	22	in	in	ADP
gujaf-42	17	23	tangible	tangible	ADJ
gujaf-42	17	24	assets	asset	NOUN
gujaf-42	17	25	and	and	CCONJ
gujaf-42	17	26	distribute	distribute	VERB
gujaf-42	17	27	them	they	PRON
gujaf-42	17	28	to	to	ADP
gujaf-42	17	29	investors	investor	NOUN
gujaf-42	17	30	.	.	PUNCT
gujaf-42	18	1	cash	cash	NOUN
gujaf-42	18	2	possession	possession	NOUN
gujaf-42	18	3	is	be	AUX
gujaf-42	18	4	therefore	therefore	ADV
gujaf-42	18	5	considered	consider	VERB
gujaf-42	18	6	cash	cash	NOUN
gujaf-42	18	7	or	or	CCONJ
gujaf-42	18	8	equivalent	equivalent	ADJ
gujaf-42	18	9	and	and	CCONJ
gujaf-42	18	10	can	can	AUX
gujaf-42	18	11	easily	easily	ADV
gujaf-42	18	12	be	be	AUX
gujaf-42	18	13	converted	convert	VERB
gujaf-42	18	14	into	into	ADP
gujaf-42	18	15	cash	cash	NOUN
gujaf-42	18	16	to	to	ADP
gujaf-42	18	17	.	.	PUNCT
gujaf-42	19	1	in	in	ADP
gujaf-42	19	2	this	this	DET
gujaf-42	19	3	context	context	NOUN
gujaf-42	19	4	,	,	PUNCT
gujaf-42	19	5	cash	cash	NOUN
gujaf-42	19	6	withholding	withholding	NOUN
gujaf-42	19	7	will	will	AUX
gujaf-42	19	8	include	include	VERB
gujaf-42	19	9	cash	cash	NOUN
gujaf-42	19	10	in	in	ADP
gujaf-42	19	11	the	the	DET
gujaf-42	19	12	fund	fund	NOUN
gujaf-42	19	13	,	,	PUNCT
gujaf-42	19	14	bank	bank	NOUN
gujaf-42	19	15	and	and	CCONJ
gujaf-42	19	16	short	short	ADJ
gujaf-42	19	17	-	-	PUNCT
gujaf-42	19	18	term	term	NOUN
gujaf-42	19	19	investment	investment	NOUN
gujaf-42	19	20	in	in	ADP
gujaf-42	19	21	money	money	NOUN
gujaf-42	19	22	market	market	NOUN
gujaf-42	19	23	instruments	instrument	NOUN
gujaf-42	19	24	such	such	ADJ
gujaf-42	19	25	as	as	ADP
gujaf-42	19	26	treasury	treasury	NOUN
gujaf-42	19	27	bills	bill	NOUN
gujaf-42	19	28	.	.	PUNCT
gujaf-42	20	1	owing	owe	VERB
gujaf-42	20	2	to	to	ADP
gujaf-42	20	3	the	the	DET
gujaf-42	20	4	significance	significance	NOUN
gujaf-42	20	5	of	of	ADP
gujaf-42	20	6	cash	cash	NOUN
gujaf-42	20	7	and	and	CCONJ
gujaf-42	20	8	its	its	PRON
gujaf-42	20	9	importance	importance	NOUN
gujaf-42	20	10	in	in	ADP
gujaf-42	20	11	working	work	VERB
gujaf-42	20	12	capital	capital	NOUN
gujaf-42	20	13	management	management	NOUN
gujaf-42	20	14	,	,	PUNCT
gujaf-42	20	15	different	different	ADJ
gujaf-42	20	16	approaches	approach	NOUN
gujaf-42	20	17	are	be	AUX
gujaf-42	20	18	being	be	AUX
gujaf-42	20	19	used	use	VERB
gujaf-42	20	20	to	to	PART
gujaf-42	20	21	determine	determine	VERB
gujaf-42	20	22	factors	factor	NOUN
gujaf-42	20	23	that	that	PRON
gujaf-42	20	24	influence	influence	VERB
gujaf-42	20	25	it	it	PRON
gujaf-42	20	26	.	.	PUNCT
gujaf-42	21	1	the	the	DET
gujaf-42	21	2	corporate	corporate	ADJ
gujaf-42	21	3	cash	cash	NOUN
gujaf-42	21	4	holding	hold	VERB
gujaf-42	21	5	determinants	determinant	NOUN
gujaf-42	21	6	have	have	AUX
gujaf-42	21	7	since	since	ADV
gujaf-42	21	8	been	be	AUX
gujaf-42	21	9	a	a	DET
gujaf-42	21	10	subject	subject	NOUN
gujaf-42	21	11	of	of	ADP
gujaf-42	21	12	explanation	explanation	NOUN
gujaf-42	21	13	in	in	ADP
gujaf-42	21	14	the	the	DET
gujaf-42	21	15	framework	framework	NOUN
gujaf-42	21	16	of	of	ADP
gujaf-42	21	17	three	three	NUM
gujaf-42	21	18	theories	theory	NOUN
gujaf-42	21	19	,	,	PUNCT
gujaf-42	21	20	namely	namely	ADV
gujaf-42	21	21	:	:	PUNCT
gujaf-42	21	22	the	the	DET
gujaf-42	21	23	trade	trade	NOUN
gujaf-42	21	24	-	-	PUNCT
gujaf-42	21	25	off	off	ADP
gujaf-42	21	26	model	model	NOUN
gujaf-42	21	27	,	,	PUNCT
gujaf-42	21	28	pecking	pecking	NOUN
gujaf-42	21	29	order	order	NOUN
gujaf-42	21	30	theory	theory	NOUN
gujaf-42	21	31	and	and	CCONJ
gujaf-42	21	32	free	free	ADJ
gujaf-42	21	33	cash	cash	NOUN
gujaf-42	21	34	flow	flow	NOUN
gujaf-42	21	35	theory	theory	NOUN
gujaf-42	21	36	.	.	PUNCT
gujaf-42	22	1	according	accord	VERB
gujaf-42	22	2	to	to	ADP
gujaf-42	22	3	tradeoff	tradeoff	NOUN
gujaf-42	22	4	theory	theory	NOUN
gujaf-42	22	5	,	,	PUNCT
gujaf-42	22	6	they	they	PRON
gujaf-42	22	7	set	set	VERB
gujaf-42	22	8	their	their	PRON
gujaf-42	22	9	optimal	optimal	ADJ
gujaf-42	22	10	level	level	NOUN
gujaf-42	22	11	of	of	ADP
gujaf-42	22	12	cash	cash	NOUN
gujaf-42	22	13	holding	holding	NOUN
gujaf-42	22	14	by	by	ADP
gujaf-42	22	15	weighing	weigh	VERB
gujaf-42	22	16	the	the	DET
gujaf-42	22	17	marginal	marginal	ADJ
gujaf-42	22	18	costs	cost	NOUN
gujaf-42	22	19	and	and	CCONJ
gujaf-42	22	20	marginal	marginal	ADJ
gujaf-42	22	21	benefits	benefit	NOUN
gujaf-42	22	22	of	of	ADP
gujaf-42	22	23	holding	hold	VERB
gujaf-42	22	24	cash	cash	NOUN
gujaf-42	22	25	(	(	PUNCT
gujaf-42	22	26	afza	afza	PROPN
gujaf-42	22	27	&	&	CCONJ
gujaf-42	22	28	adnan	adnan	PROPN
gujaf-42	22	29	,	,	PUNCT
gujaf-42	22	30	2007	2007	NUM
gujaf-42	22	31	)	)	PUNCT
gujaf-42	22	32	.	.	PUNCT
gujaf-42	23	1	according	accord	VERB
gujaf-42	23	2	to	to	ADP
gujaf-42	23	3	trade	trade	NOUN
gujaf-42	23	4	-	-	PUNCT
gujaf-42	23	5	off	off	ADP
gujaf-42	23	6	theory	theory	NOUN
gujaf-42	23	7	and	and	CCONJ
gujaf-42	23	8	pecking	pecking	NOUN
gujaf-42	23	9	order	order	NOUN
gujaf-42	23	10	theory	theory	NOUN
gujaf-42	23	11	,	,	PUNCT
gujaf-42	23	12	various	various	ADJ
gujaf-42	23	13	firms	firm	NOUN
gujaf-42	23	14	’	'	PUNCT
gujaf-42	23	15	characteristics	characteristic	NOUN
gujaf-42	23	16	such	such	ADJ
gujaf-42	23	17	as	as	ADP
gujaf-42	23	18	growth	growth	NOUN
gujaf-42	23	19	opportunities	opportunity	NOUN
gujaf-42	23	20	,	,	PUNCT
gujaf-42	23	21	cash	cash	NOUN
gujaf-42	23	22	lows	low	NOUN
gujaf-42	23	23	,	,	PUNCT
gujaf-42	23	24	liquid	liquid	ADJ
gujaf-42	23	25	assets	asset	NOUN
gujaf-42	23	26	,	,	PUNCT
gujaf-42	23	27	leverages	leverage	NOUN
gujaf-42	23	28	and	and	CCONJ
gujaf-42	23	29	size	size	NOUN
gujaf-42	23	30	are	be	AUX
gujaf-42	23	31	determinant	determinant	ADJ
gujaf-42	23	32	of	of	ADP
gujaf-42	23	33	cash	cash	NOUN
gujaf-42	23	34	holding	holding	NOUN
gujaf-42	23	35	.	.	PUNCT
gujaf-42	24	1	as	as	ADP
gujaf-42	24	2	per	per	ADP
gujaf-42	24	3	the	the	DET
gujaf-42	24	4	pecking	pecking	NOUN
gujaf-42	24	5	order	order	NOUN
gujaf-42	24	6	theory	theory	NOUN
gujaf-42	24	7	,	,	PUNCT
gujaf-42	24	8	myers	myers	PROPN
gujaf-42	24	9	(	(	PUNCT
gujaf-42	24	10	1984	1984	NUM
gujaf-42	24	11	)	)	PUNCT
gujaf-42	24	12	opines	opine	VERB
gujaf-42	24	13	that	that	SCONJ
gujaf-42	24	14	firms	firm	NOUN
gujaf-42	24	15	finance	finance	VERB
gujaf-42	24	16	investments	investment	NOUN
gujaf-42	24	17	firstly	firstly	ADV
gujaf-42	24	18	with	with	ADP
gujaf-42	24	19	retaining	retain	VERB
gujaf-42	24	20	earnings	earning	NOUN
gujaf-42	24	21	,	,	PUNCT
gujaf-42	24	22	then	then	ADV
gujaf-42	24	23	with	with	ADP
gujaf-42	24	24	safe	safe	ADJ
gujaf-42	24	25	debt	debt	NOUN
gujaf-42	24	26	and	and	CCONJ
gujaf-42	24	27	risky	risky	ADJ
gujaf-42	24	28	debt	debt	NOUN
gujaf-42	24	29	,	,	PUNCT
gujaf-42	24	30	and	and	CCONJ
gujaf-42	24	31	finally	finally	ADV
gujaf-42	24	32	with	with	ADP
gujaf-42	24	33	equity	equity	NOUN
gujaf-42	24	34	.	.	PUNCT
gujaf-42	25	1	when	when	SCONJ
gujaf-42	25	2	current	current	ADJ
gujaf-42	25	3	operational	operational	ADJ
gujaf-42	25	4	cash	cash	NOUN
gujaf-42	25	5	flows	flow	NOUN
gujaf-42	25	6	are	be	AUX
gujaf-42	25	7	sufficient	sufficient	ADJ
gujaf-42	25	8	enough	enough	ADV
gujaf-42	25	9	to	to	PART
gujaf-42	25	10	finance	finance	VERB
gujaf-42	25	11	new	new	ADJ
gujaf-42	25	12	investments	investment	NOUN
gujaf-42	25	13	,	,	PUNCT
gujaf-42	25	14	firms	firm	NOUN
gujaf-42	25	15	repay	repay	VERB
gujaf-42	25	16	debt	debt	NOUN
gujaf-42	25	17	and	and	CCONJ
gujaf-42	25	18	accumulate	accumulate	VERB
gujaf-42	25	19	cash	cash	NOUN
gujaf-42	25	20	.	.	PUNCT
gujaf-42	26	1	when	when	SCONJ
gujaf-42	26	2	retained	retain	VERB
gujaf-42	26	3	earnings	earning	NOUN
gujaf-42	26	4	are	be	AUX
gujaf-42	26	5	not	not	PART
gujaf-42	26	6	enough	enough	ADJ
gujaf-42	26	7	to	to	PART
gujaf-42	26	8	finance	finance	VERB
gujaf-42	26	9	current	current	ADJ
gujaf-42	26	10	investments	investment	NOUN
gujaf-42	26	11	,	,	PUNCT
gujaf-42	26	12	firms	firm	NOUN
gujaf-42	26	13	use	use	VERB
gujaf-42	26	14	the	the	DET
gujaf-42	26	15	accumulated	accumulate	VERB
gujaf-42	26	16	cash	cash	NOUN
gujaf-42	26	17	holdings	holding	NOUN
gujaf-42	26	18	and	and	CCONJ
gujaf-42	26	19	,	,	PUNCT
gujaf-42	26	20	if	if	SCONJ
gujaf-42	26	21	needed	need	VERB
gujaf-42	26	22	,	,	PUNCT
gujaf-42	26	23	issue	issue	NOUN
gujaf-42	26	24	debt	debt	NOUN
gujaf-42	26	25	while	while	SCONJ
gujaf-42	26	26	free	free	ADJ
gujaf-42	26	27	cash	cash	NOUN
gujaf-42	26	28	flow	flow	NOUN
gujaf-42	26	29	theory	theory	NOUN
gujaf-42	26	30	as	as	SCONJ
gujaf-42	26	31	explained	explain	VERB
gujaf-42	26	32	by	by	ADP
gujaf-42	26	33	jensen	jensen	PROPN
gujaf-42	26	34	(	(	PUNCT
gujaf-42	26	35	1986	1986	NUM
gujaf-42	26	36	)	)	PUNCT
gujaf-42	26	37	that	that	SCONJ
gujaf-42	26	38	managers	manager	NOUN
gujaf-42	26	39	have	have	VERB
gujaf-42	26	40	an	an	DET
gujaf-42	26	41	incentive	incentive	NOUN
gujaf-42	26	42	to	to	PART
gujaf-42	26	43	hoard	hoard	VERB
gujaf-42	26	44	cash	cash	NOUN
gujaf-42	26	45	to	to	PART
gujaf-42	26	46	increase	increase	VERB
gujaf-42	26	47	the	the	DET
gujaf-42	26	48	amount	amount	NOUN
gujaf-42	26	49	of	of	ADP
gujaf-42	26	50	assets	asset	NOUN
gujaf-42	26	51	under	under	ADP
gujaf-42	26	52	their	their	PRON
gujaf-42	26	53	control	control	NOUN
gujaf-42	26	54	and	and	CCONJ
gujaf-42	26	55	to	to	PART
gujaf-42	26	56	gain	gain	VERB
gujaf-42	26	57	discretionary	discretionary	ADJ
gujaf-42	26	58	power	power	NOUN
gujaf-42	26	59	over	over	ADP
gujaf-42	26	60	the	the	DET
gujaf-42	26	61	firm	firm	ADJ
gujaf-42	26	62	investment	investment	NOUN
gujaf-42	26	63	decision	decision	NOUN
gujaf-42	26	64	.	.	PUNCT
gujaf-42	27	1	with	with	ADP
gujaf-42	27	2	the	the	DET
gujaf-42	27	3	cash	cash	NOUN
gujaf-42	27	4	holding	holding	NOUN
gujaf-42	27	5	,	,	PUNCT
gujaf-42	27	6	they	they	PRON
gujaf-42	27	7	do	do	AUX
gujaf-42	27	8	not	not	PART
gujaf-42	27	9	need	need	VERB
gujaf-42	27	10	to	to	PART
gujaf-42	27	11	raise	raise	VERB
gujaf-42	27	12	external	external	ADJ
gujaf-42	27	13	funds	fund	NOUN
gujaf-42	27	14	and	and	CCONJ
gujaf-42	27	15	could	could	AUX
gujaf-42	27	16	undertake	undertake	VERB
gujaf-42	27	17	investments	investment	NOUN
gujaf-42	27	18	that	that	PRON
gujaf-42	27	19	have	have	VERB
gujaf-42	27	20	a	a	DET
gujaf-42	27	21	negative	negative	ADJ
gujaf-42	27	22	impact	impact	NOUN
gujaf-42	27	23	on	on	ADP
gujaf-42	27	24	shareholders	shareholder	NOUN
gujaf-42	27	25	’	'	PUNCT
gujaf-42	27	26	wealth	wealth	NOUN
gujaf-42	27	27	.	.	PUNCT
gujaf-42	28	1	the	the	DET
gujaf-42	28	2	fallout	fallout	NOUN
gujaf-42	28	3	of	of	ADP
gujaf-42	28	4	his	his	PRON
gujaf-42	28	5	submission	submission	NOUN
gujaf-42	28	6	has	have	AUX
gujaf-42	28	7	foreclosed	foreclose	VERB
gujaf-42	28	8	the	the	DET
gujaf-42	28	9	necessity	necessity	NOUN
gujaf-42	28	10	of	of	ADP
gujaf-42	28	11	maintaining	maintain	VERB
gujaf-42	28	12	optimum	optimum	ADJ
gujaf-42	28	13	cash	cash	NOUN
gujaf-42	28	14	holding	holding	NOUN
gujaf-42	28	15	.	.	PUNCT
gujaf-42	29	1	pandey	pandey	PROPN
gujaf-42	29	2	(	(	PUNCT
gujaf-42	29	3	2006	2006	NUM
gujaf-42	29	4	)	)	PUNCT
gujaf-42	29	5	emphasizes	emphasize	VERB
gujaf-42	29	6	that	that	DET
gujaf-42	29	7	firm	firm	NOUN
gujaf-42	29	8	should	should	AUX
gujaf-42	29	9	maintain	maintain	VERB
gujaf-42	29	10	optimum	optimum	ADJ
gujaf-42	29	11	cash	cash	NOUN
gujaf-42	29	12	holding	holding	NOUN
gujaf-42	29	13	.	.	PUNCT
gujaf-42	30	1	how	how	SCONJ
gujaf-42	30	2	to	to	PART
gujaf-42	30	3	determine	determine	VERB
gujaf-42	30	4	the	the	DET
gujaf-42	30	5	optimum	optimum	ADJ
gujaf-42	30	6	cash	cash	NOUN
gujaf-42	30	7	holding	holding	NOUN
gujaf-42	30	8	is	be	AUX
gujaf-42	30	9	a	a	DET
gujaf-42	30	10	major	major	ADJ
gujaf-42	30	11	concern	concern	NOUN
gujaf-42	30	12	for	for	ADP
gujaf-42	30	13	the	the	DET
gujaf-42	30	14	financial	financial	ADJ
gujaf-42	30	15	manager	manager	NOUN
gujaf-42	30	16	globally	globally	ADV
gujaf-42	30	17	nigeria	nigeria	PROPN
gujaf-42	30	18	inclusive	inclusive	NOUN
gujaf-42	30	19	.	.	PUNCT
gujaf-42	31	1	efforts	effort	NOUN
gujaf-42	31	2	have	have	AUX
gujaf-42	31	3	been	be	AUX
gujaf-42	31	4	on	on	ADP
gujaf-42	31	5	to	to	PART
gujaf-42	31	6	identify	identify	VERB
gujaf-42	31	7	what	what	PRON
gujaf-42	31	8	are	be	AUX
gujaf-42	31	9	the	the	DET
gujaf-42	31	10	determinants	determinant	NOUN
gujaf-42	31	11	of	of	ADP
gujaf-42	31	12	cash	cash	NOUN
gujaf-42	31	13	holding	holding	NOUN
gujaf-42	31	14	bearing	bearing	NOUN
gujaf-42	31	15	in	in	ADP
gujaf-42	31	16	mind	mind	NOUN
gujaf-42	31	17	the	the	DET
gujaf-42	31	18	firm	firm	NOUN
gujaf-42	31	19	’s	’s	PART
gujaf-42	31	20	gusau	gusau	ADJ
gujaf-42	31	21	journal	journal	NOUN
gujaf-42	31	22	of	of	ADP
gujaf-42	31	23	accounting	accounting	NOUN
gujaf-42	31	24	and	and	CCONJ
gujaf-42	31	25	finance	finance	NOUN
gujaf-42	31	26	,	,	PUNCT
gujaf-42	31	27	vol	vol	NOUN
gujaf-42	31	28	.	.	PUNCT
gujaf-42	32	1	i	i	PRON
gujaf-42	32	2	,	,	PUNCT
gujaf-42	32	3	issue	issue	NOUN
gujaf-42	32	4	2	2	NUM
gujaf-42	32	5	,	,	PUNCT
gujaf-42	32	6	october	october	PROPN
gujaf-42	32	7	,	,	PUNCT
gujaf-42	32	8	2020	2020	NUM
gujaf-42	32	9	3	3	NUM
gujaf-42	32	10	characteristics	characteristic	NOUN
gujaf-42	32	11	such	such	ADJ
gujaf-42	32	12	as	as	ADP
gujaf-42	32	13	leverages	leverage	NOUN
gujaf-42	32	14	,	,	PUNCT
gujaf-42	32	15	profitability	profitability	NOUN
gujaf-42	32	16	,	,	PUNCT
gujaf-42	32	17	net	net	ADJ
gujaf-42	32	18	working	working	NOUN
gujaf-42	32	19	capital	capital	NOUN
gujaf-42	32	20	,	,	PUNCT
gujaf-42	32	21	capex	capex	NOUN
gujaf-42	32	22	.	.	PUNCT
gujaf-42	33	1	hence	hence	ADV
gujaf-42	33	2	,	,	PUNCT
gujaf-42	33	3	this	this	DET
gujaf-42	33	4	study	study	NOUN
gujaf-42	33	5	examines	examine	VERB
gujaf-42	33	6	the	the	DET
gujaf-42	33	7	correlation	correlation	NOUN
gujaf-42	33	8	relationship	relationship	NOUN
gujaf-42	33	9	between	between	ADP
gujaf-42	33	10	the	the	DET
gujaf-42	33	11	cash	cash	NOUN
gujaf-42	33	12	as	as	ADP
gujaf-42	33	13	dependent	dependent	ADJ
gujaf-42	33	14	variable	variable	NOUN
gujaf-42	33	15	and	and	CCONJ
gujaf-42	33	16	firms	firm	NOUN
gujaf-42	33	17	’	'	PUNCT
gujaf-42	33	18	characteristic	characteristic	ADJ
gujaf-42	33	19	as	as	ADP
gujaf-42	33	20	explanatory	explanatory	ADJ
gujaf-42	33	21	variables	variable	NOUN
gujaf-42	33	22	.	.	PUNCT
gujaf-42	34	1	companies	company	NOUN
gujaf-42	34	2	tend	tend	VERB
gujaf-42	34	3	to	to	PART
gujaf-42	34	4	hold	hold	VERB
gujaf-42	34	5	excess	excess	ADJ
gujaf-42	34	6	cash	cash	NOUN
gujaf-42	34	7	to	to	PART
gujaf-42	34	8	make	make	VERB
gujaf-42	34	9	sure	sure	ADJ
gujaf-42	34	10	that	that	SCONJ
gujaf-42	34	11	they	they	PRON
gujaf-42	34	12	can	can	AUX
gujaf-42	34	13	invest	invest	VERB
gujaf-42	34	14	when	when	SCONJ
gujaf-42	34	15	cash	cash	NOUN
gujaf-42	34	16	flow	flow	NOUN
gujaf-42	34	17	is	be	AUX
gujaf-42	34	18	low	low	ADJ
gujaf-42	34	19	.	.	PUNCT
gujaf-42	35	1	cash	cash	NOUN
gujaf-42	35	2	allows	allow	VERB
gujaf-42	35	3	to	to	AUX
gujaf-42	35	4	managers	manager	NOUN
gujaf-42	35	5	to	to	PART
gujaf-42	35	6	invest	invest	VERB
gujaf-42	35	7	on	on	ADP
gujaf-42	35	8	projects	project	NOUN
gujaf-42	35	9	relieved	relieve	VERB
gujaf-42	35	10	from	from	ADP
gujaf-42	35	11	the	the	DET
gujaf-42	35	12	anxiety	anxiety	NOUN
gujaf-42	35	13	of	of	ADP
gujaf-42	35	14	failure	failure	NOUN
gujaf-42	35	15	,	,	PUNCT
gujaf-42	35	16	maybe	maybe	ADV
gujaf-42	35	17	confronting	confront	VERB
gujaf-42	35	18	them	they	PRON
gujaf-42	35	19	with	with	ADP
gujaf-42	35	20	the	the	DET
gujaf-42	35	21	shareholder	shareholder	NOUN
gujaf-42	35	22	’s	’s	PART
gujaf-42	35	23	best	good	ADJ
gujaf-42	35	24	interest	interest	NOUN
gujaf-42	35	25	.	.	PUNCT
gujaf-42	36	1	according	accord	VERB
gujaf-42	36	2	to	to	ADP
gujaf-42	36	3	fereira	fereira	NOUN
gujaf-42	36	4	and	and	CCONJ
gujaf-42	36	5	vilela	vilela	PROPN
gujaf-42	36	6	(	(	PUNCT
gujaf-42	36	7	2004	2004	NUM
gujaf-42	36	8	)	)	PUNCT
gujaf-42	36	9	,	,	PUNCT
gujaf-42	36	10	cash	cash	NOUN
gujaf-42	36	11	holdings	holding	NOUN
gujaf-42	36	12	reduce	reduce	VERB
gujaf-42	36	13	the	the	DET
gujaf-42	36	14	likelihood	likelihood	NOUN
gujaf-42	36	15	of	of	ADP
gujaf-42	36	16	financial	financial	ADJ
gujaf-42	36	17	distress	distress	NOUN
gujaf-42	36	18	.	.	PUNCT
gujaf-42	37	1	in	in	ADP
gujaf-42	37	2	addition	addition	NOUN
gujaf-42	37	3	,	,	PUNCT
gujaf-42	37	4	they	they	PRON
gujaf-42	37	5	allow	allow	VERB
gujaf-42	37	6	the	the	DET
gujaf-42	37	7	pursuance	pursuance	NOUN
gujaf-42	37	8	of	of	ADP
gujaf-42	37	9	investment	investment	NOUN
gujaf-42	37	10	projects	project	NOUN
gujaf-42	37	11	regardless	regardless	ADV
gujaf-42	37	12	the	the	DET
gujaf-42	37	13	unexpected	unexpected	ADJ
gujaf-42	37	14	financial	financial	ADJ
gujaf-42	37	15	constraints	constraint	NOUN
gujaf-42	37	16	and	and	CCONJ
gujaf-42	37	17	minimize	minimize	VERB
gujaf-42	37	18	the	the	DET
gujaf-42	37	19	costs	cost	NOUN
gujaf-42	37	20	of	of	ADP
gujaf-42	37	21	raising	raise	VERB
gujaf-42	37	22	external	external	ADJ
gujaf-42	37	23	funds	fund	NOUN
gujaf-42	37	24	from	from	ADP
gujaf-42	37	25	borrowing	borrow	VERB
gujaf-42	37	26	ready	ready	ADJ
gujaf-42	37	27	cash	cash	NOUN
gujaf-42	37	28	or	or	CCONJ
gujaf-42	37	29	forcing	force	VERB
gujaf-42	37	30	to	to	PART
gujaf-42	37	31	liquidate	liquidate	VERB
gujaf-42	37	32	assets	asset	NOUN
gujaf-42	37	33	.	.	PUNCT
gujaf-42	38	1	however	however	ADV
gujaf-42	38	2	,	,	PUNCT
gujaf-42	38	3	the	the	DET
gujaf-42	38	4	decision	decision	NOUN
gujaf-42	38	5	of	of	ADP
gujaf-42	38	6	holding	hold	VERB
gujaf-42	38	7	excessive	excessive	ADJ
gujaf-42	38	8	amounts	amount	NOUN
gujaf-42	38	9	of	of	ADP
gujaf-42	38	10	cash	cash	NOUN
gujaf-42	38	11	may	may	AUX
gujaf-42	38	12	have	have	VERB
gujaf-42	38	13	negative	negative	ADJ
gujaf-42	38	14	consequences	consequence	NOUN
gujaf-42	38	15	under	under	ADP
gujaf-42	38	16	ineffective	ineffective	ADJ
gujaf-42	38	17	use	use	NOUN
gujaf-42	38	18	.	.	PUNCT
gujaf-42	39	1	the	the	DET
gujaf-42	39	2	accumulation	accumulation	NOUN
gujaf-42	39	3	of	of	ADP
gujaf-42	39	4	cash	cash	NOUN
gujaf-42	39	5	holdings	holding	NOUN
gujaf-42	39	6	may	may	AUX
gujaf-42	39	7	hide	hide	VERB
gujaf-42	39	8	lost	lose	VERB
gujaf-42	39	9	performance	performance	NOUN
gujaf-42	39	10	or	or	CCONJ
gujaf-42	39	11	investment	investment	NOUN
gujaf-42	39	12	opportunities	opportunity	NOUN
gujaf-42	39	13	(	(	PUNCT
gujaf-42	39	14	ferreira	ferreira	PROPN
gujaf-42	39	15	&	&	CCONJ
gujaf-42	39	16	vilela	vilela	PROPN
gujaf-42	39	17	,	,	PUNCT
gujaf-42	39	18	2004	2004	NUM
gujaf-42	39	19	)	)	PUNCT
gujaf-42	39	20	.	.	PUNCT
gujaf-42	40	1	prior	prior	ADV
gujaf-42	40	2	to	to	ADP
gujaf-42	40	3	the	the	DET
gujaf-42	40	4	financial	financial	ADJ
gujaf-42	40	5	meltdown	meltdown	NOUN
gujaf-42	40	6	,	,	PUNCT
gujaf-42	40	7	the	the	DET
gujaf-42	40	8	manufacturing	manufacturing	NOUN
gujaf-42	40	9	sector	sector	NOUN
gujaf-42	40	10	had	have	AUX
gujaf-42	40	11	not	not	PART
gujaf-42	40	12	fared	fare	VERB
gujaf-42	40	13	better	well	ADJ
gujaf-42	40	14	largely	largely	ADV
gujaf-42	40	15	due	due	ADJ
gujaf-42	40	16	to	to	ADP
gujaf-42	40	17	high	high	ADJ
gujaf-42	40	18	production	production	NOUN
gujaf-42	40	19	cost	cost	NOUN
gujaf-42	40	20	.	.	PUNCT
gujaf-42	41	1	owing	owe	VERB
gujaf-42	41	2	to	to	ADP
gujaf-42	41	3	these	these	PRON
gujaf-42	41	4	,	,	PUNCT
gujaf-42	41	5	the	the	DET
gujaf-42	41	6	domestic	domestic	ADJ
gujaf-42	41	7	economy	economy	NOUN
gujaf-42	41	8	witnessed	witness	VERB
gujaf-42	41	9	an	an	DET
gujaf-42	41	10	unprecedented	unprecedented	ADJ
gujaf-42	41	11	closure	closure	NOUN
gujaf-42	41	12	of	of	ADP
gujaf-42	41	13	factories	factory	NOUN
gujaf-42	41	14	and	and	CCONJ
gujaf-42	41	15	production	production	NOUN
gujaf-42	41	16	plants	plant	NOUN
gujaf-42	41	17	last	last	ADJ
gujaf-42	41	18	year	year	NOUN
gujaf-42	41	19	.	.	PUNCT
gujaf-42	42	1	indeed	indeed	ADV
gujaf-42	42	2	,	,	PUNCT
gujaf-42	42	3	it	it	PRON
gujaf-42	42	4	was	be	AUX
gujaf-42	42	5	a	a	DET
gujaf-42	42	6	confirmation	confirmation	NOUN
gujaf-42	42	7	that	that	SCONJ
gujaf-42	42	8	the	the	DET
gujaf-42	42	9	nation	nation	NOUN
gujaf-42	42	10	’s	’s	PART
gujaf-42	42	11	domestic	domestic	ADJ
gujaf-42	42	12	economy	economy	NOUN
gujaf-42	42	13	was	be	AUX
gujaf-42	42	14	sinking	sink	VERB
gujaf-42	42	15	(	(	PUNCT
gujaf-42	42	16	proshare	proshare	VERB
gujaf-42	42	17	,	,	PUNCT
gujaf-42	42	18	2020	2020	NUM
gujaf-42	42	19	)	)	PUNCT
gujaf-42	42	20	.	.	PUNCT
gujaf-42	43	1	similarly	similarly	ADV
gujaf-42	43	2	,	,	PUNCT
gujaf-42	43	3	the	the	DET
gujaf-42	43	4	chairman	chairman	NOUN
gujaf-42	43	5	of	of	ADP
gujaf-42	43	6	fmn	fmn	PROPN
gujaf-42	43	7	,	,	PUNCT
gujaf-42	43	8	john	john	PROPN
gujaf-42	43	9	coumantaros	coumantaros	PROPN
gujaf-42	43	10	,	,	PUNCT
gujaf-42	43	11	said	say	VERB
gujaf-42	43	12	the	the	DET
gujaf-42	43	13	nigerian	nigerian	ADJ
gujaf-42	43	14	manufacturing	manufacturing	NOUN
gujaf-42	43	15	sector	sector	NOUN
gujaf-42	43	16	is	be	AUX
gujaf-42	43	17	currently	currently	ADV
gujaf-42	43	18	faced	face	VERB
gujaf-42	43	19	with	with	ADP
gujaf-42	43	20	monumental	monumental	ADJ
gujaf-42	43	21	challenges	challenge	NOUN
gujaf-42	43	22	and	and	CCONJ
gujaf-42	43	23	constraints	constraint	NOUN
gujaf-42	43	24	that	that	PRON
gujaf-42	43	25	combined	combine	VERB
gujaf-42	43	26	to	to	PART
gujaf-42	43	27	lower	low	ADJ
gujaf-42	43	28	productivity	productivity	NOUN
gujaf-42	43	29	,	,	PUNCT
gujaf-42	43	30	output	output	NOUN
gujaf-42	43	31	and	and	CCONJ
gujaf-42	43	32	increased	increase	VERB
gujaf-42	43	33	cost	cost	NOUN
gujaf-42	43	34	of	of	ADP
gujaf-42	43	35	doing	do	VERB
gujaf-42	43	36	business	business	NOUN
gujaf-42	43	37	.	.	PUNCT
gujaf-42	44	1	according	accord	VERB
gujaf-42	44	2	to	to	ADP
gujaf-42	44	3	him	he	PRON
gujaf-42	44	4	,	,	PUNCT
gujaf-42	44	5	this	this	PRON
gujaf-42	44	6	has	have	AUX
gujaf-42	44	7	continued	continue	VERB
gujaf-42	44	8	to	to	PART
gujaf-42	44	9	depress	depress	VERB
gujaf-42	44	10	profit	profit	NOUN
gujaf-42	44	11	margins	margin	NOUN
gujaf-42	44	12	of	of	ADP
gujaf-42	44	13	many	many	ADJ
gujaf-42	44	14	manufacturing	manufacturing	NOUN
gujaf-42	44	15	companies	company	NOUN
gujaf-42	44	16	and	and	CCONJ
gujaf-42	44	17	impede	impede	VERB
gujaf-42	44	18	their	their	PRON
gujaf-42	44	19	growth	growth	NOUN
gujaf-42	44	20	.	.	PUNCT
gujaf-42	45	1	“	"	PUNCT
gujaf-42	45	2	some	some	PRON
gujaf-42	45	3	of	of	ADP
gujaf-42	45	4	the	the	DET
gujaf-42	45	5	major	major	ADJ
gujaf-42	45	6	constraints	constraint	NOUN
gujaf-42	45	7	experienced	experience	VERB
gujaf-42	45	8	by	by	ADP
gujaf-42	45	9	the	the	DET
gujaf-42	45	10	manufactures	manufacture	NOUN
gujaf-42	45	11	include	include	VERB
gujaf-42	45	12	soaring	soar	VERB
gujaf-42	45	13	input	input	NOUN
gujaf-42	45	14	costs	cost	NOUN
gujaf-42	45	15	,	,	PUNCT
gujaf-42	45	16	unrest	unrest	NOUN
gujaf-42	45	17	in	in	ADP
gujaf-42	45	18	north	north	PROPN
gujaf-42	45	19	east	east	NOUN
gujaf-42	45	20	and	and	CCONJ
gujaf-42	45	21	general	general	ADJ
gujaf-42	45	22	fears	fear	NOUN
gujaf-42	45	23	and	and	CCONJ
gujaf-42	45	24	uncertainties	uncertainty	NOUN
gujaf-42	45	25	.	.	PUNCT
gujaf-42	46	1	these	these	DET
gujaf-42	46	2	adverse	adverse	ADJ
gujaf-42	46	3	conditions	condition	NOUN
gujaf-42	46	4	contributed	contribute	VERB
gujaf-42	46	5	to	to	PART
gujaf-42	46	6	lower	lower	VERB
gujaf-42	46	7	industrial	industrial	ADJ
gujaf-42	46	8	capacity	capacity	NOUN
gujaf-42	46	9	(	(	PUNCT
gujaf-42	46	10	guardian	guardian	NOUN
gujaf-42	46	11	,	,	PUNCT
gujaf-42	46	12	2020	2020	NUM
gujaf-42	46	13	)	)	PUNCT
gujaf-42	46	14	.	.	PUNCT
gujaf-42	47	1	in	in	ADP
gujaf-42	47	2	addition	addition	NOUN
gujaf-42	47	3	,	,	PUNCT
gujaf-42	47	4	beyond	beyond	ADP
gujaf-42	47	5	this	this	PRON
gujaf-42	47	6	,	,	PUNCT
gujaf-42	47	7	there	there	PRON
gujaf-42	47	8	is	be	VERB
gujaf-42	47	9	a	a	DET
gujaf-42	47	10	load	load	NOUN
gujaf-42	47	11	of	of	ADP
gujaf-42	47	12	unsold	unsold	ADJ
gujaf-42	47	13	inventory	inventory	NOUN
gujaf-42	47	14	given	give	VERB
gujaf-42	47	15	the	the	DET
gujaf-42	47	16	shutdown	shutdown	NOUN
gujaf-42	47	17	of	of	ADP
gujaf-42	47	18	most	most	ADJ
gujaf-42	47	19	global	global	ADJ
gujaf-42	47	20	economies	economy	NOUN
gujaf-42	47	21	.	.	PUNCT
gujaf-42	48	1	given	give	VERB
gujaf-42	48	2	this	this	DET
gujaf-42	48	3	scenario	scenario	NOUN
gujaf-42	48	4	,	,	PUNCT
gujaf-42	48	5	liquidity	liquidity	NOUN
gujaf-42	48	6	of	of	ADP
gujaf-42	48	7	most	most	ADJ
gujaf-42	48	8	indigenous	indigenous	ADJ
gujaf-42	48	9	oil	oil	NOUN
gujaf-42	48	10	concerns	concern	NOUN
gujaf-42	48	11	has	have	AUX
gujaf-42	48	12	already	already	ADV
gujaf-42	48	13	been	be	AUX
gujaf-42	48	14	severe	severe	ADJ
gujaf-42	48	15	as	as	ADP
gujaf-42	48	16	a	a	DET
gujaf-42	48	17	result	result	NOUN
gujaf-42	48	18	of	of	ADP
gujaf-42	48	19	the	the	DET
gujaf-42	48	20	loss	loss	NOUN
gujaf-42	48	21	of	of	ADP
gujaf-42	48	22	cash	cash	NOUN
gujaf-42	48	23	flow	flow	NOUN
gujaf-42	48	24	due	due	ADP
gujaf-42	48	25	to	to	ADP
gujaf-42	48	26	the	the	DET
gujaf-42	48	27	global	global	ADJ
gujaf-42	48	28	energy	energy	NOUN
gujaf-42	48	29	crisis	crisis	NOUN
gujaf-42	48	30	caused	cause	VERB
gujaf-42	48	31	by	by	ADP
gujaf-42	48	32	the	the	DET
gujaf-42	48	33	pandemic	pandemic	NOUN
gujaf-42	48	34	.	.	PUNCT
gujaf-42	49	1	this	this	DET
gujaf-42	49	2	disruption	disruption	NOUN
gujaf-42	49	3	has	have	VERB
gujaf-42	49	4	dire	dire	ADJ
gujaf-42	49	5	consequences	consequence	NOUN
gujaf-42	49	6	for	for	ADP
gujaf-42	49	7	the	the	DET
gujaf-42	49	8	local	local	ADJ
gujaf-42	49	9	players	player	NOUN
gujaf-42	49	10	in	in	ADP
gujaf-42	49	11	nigeria	nigeria	PROPN
gujaf-42	49	12	’s	’s	PART
gujaf-42	49	13	oil	oil	NOUN
gujaf-42	49	14	and	and	CCONJ
gujaf-42	49	15	gas	gas	NOUN
gujaf-42	49	16	industry	industry	NOUN
gujaf-42	49	17	,	,	PUNCT
gujaf-42	49	18	who	who	PRON
gujaf-42	49	19	are	be	AUX
gujaf-42	49	20	fighting	fight	VERB
gujaf-42	49	21	to	to	PART
gujaf-42	49	22	maintain	maintain	VERB
gujaf-42	49	23	operations	operation	NOUN
gujaf-42	49	24	and	and	CCONJ
gujaf-42	49	25	margins	margin	NOUN
gujaf-42	49	26	(	(	PUNCT
gujaf-42	49	27	thisday	thisday	NOUN
gujaf-42	49	28	,	,	PUNCT
gujaf-42	49	29	2020	2020	NUM
gujaf-42	49	30	)	)	PUNCT
gujaf-42	49	31	.	.	PUNCT
gujaf-42	50	1	even	even	ADV
gujaf-42	50	2	flour	flour	NOUN
gujaf-42	50	3	mills	mill	NOUN
gujaf-42	50	4	of	of	ADP
gujaf-42	50	5	nigeria	nigeria	PROPN
gujaf-42	50	6	plc	plc	PROPN
gujaf-42	50	7	,	,	PUNCT
gujaf-42	50	8	the	the	DET
gujaf-42	50	9	country	country	NOUN
gujaf-42	50	10	’s	’s	PART
gujaf-42	50	11	biggest	big	ADJ
gujaf-42	50	12	miller	miller	NOUN
gujaf-42	50	13	by	by	ADP
gujaf-42	50	14	market	market	NOUN
gujaf-42	50	15	value	value	NOUN
gujaf-42	50	16	,	,	PUNCT
gujaf-42	50	17	planned	plan	VERB
gujaf-42	50	18	to	to	PART
gujaf-42	50	19	issue	issue	VERB
gujaf-42	50	20	as	as	ADV
gujaf-42	50	21	much	much	ADV
gujaf-42	50	22	as	as	ADP
gujaf-42	50	23	n40	n40	PROPN
gujaf-42	50	24	billion	billion	NUM
gujaf-42	50	25	in	in	ADP
gujaf-42	50	26	bonds	bond	NOUN
gujaf-42	50	27	and	and	CCONJ
gujaf-42	50	28	was	be	AUX
gujaf-42	50	29	also	also	ADV
gujaf-42	50	30	considering	consider	VERB
gujaf-42	50	31	a	a	DET
gujaf-42	50	32	rights	right	NOUN
gujaf-42	50	33	issue	issue	NOUN
gujaf-42	50	34	to	to	PART
gujaf-42	50	35	enable	enable	VERB
gujaf-42	50	36	it	it	PRON
gujaf-42	50	37	to	to	PART
gujaf-42	50	38	deal	deal	VERB
gujaf-42	50	39	with	with	ADP
gujaf-42	50	40	funding	funding	NOUN
gujaf-42	50	41	challenges	challenge	NOUN
gujaf-42	50	42	arising	arise	VERB
gujaf-42	50	43	from	from	ADP
gujaf-42	50	44	a	a	DET
gujaf-42	50	45	scarcity	scarcity	NOUN
gujaf-42	50	46	of	of	ADP
gujaf-42	50	47	naira	naira	PROPN
gujaf-42	50	48	,	,	PUNCT
gujaf-42	50	49	its	its	PRON
gujaf-42	50	50	managing	manage	VERB
gujaf-42	50	51	director	director	NOUN
gujaf-42	50	52	,	,	PUNCT
gujaf-42	50	53	paul	paul	PROPN
gujaf-42	50	54	gbededo	gbededo	PROPN
gujaf-42	50	55	,	,	PUNCT
gujaf-42	50	56	said	say	VERB
gujaf-42	50	57	(	(	PUNCT
gujaf-42	50	58	thisday	thisday	NOUN
gujaf-42	50	59	,	,	PUNCT
gujaf-42	50	60	2017	2017	NUM
gujaf-42	50	61	)	)	PUNCT
gujaf-42	50	62	.	.	PUNCT
gujaf-42	51	1	gusau	gusau	PROPN
gujaf-42	51	2	journal	journal	PROPN
gujaf-42	51	3	of	of	ADP
gujaf-42	51	4	accounting	accounting	NOUN
gujaf-42	51	5	and	and	CCONJ
gujaf-42	51	6	finance	finance	NOUN
gujaf-42	51	7	,	,	PUNCT
gujaf-42	51	8	vol	vol	NOUN
gujaf-42	51	9	.	.	PUNCT
gujaf-42	52	1	i	i	PRON
gujaf-42	52	2	,	,	PUNCT
gujaf-42	52	3	issue	issue	NOUN
gujaf-42	52	4	2	2	NUM
gujaf-42	52	5	,	,	PUNCT
gujaf-42	52	6	october	october	PROPN
gujaf-42	52	7	,	,	PUNCT
gujaf-42	52	8	2020	2020	NUM
gujaf-42	52	9	4	4	NUM
gujaf-42	52	10	subsequently	subsequently	ADV
gujaf-42	52	11	,	,	PUNCT
gujaf-42	52	12	empirical	empirical	ADJ
gujaf-42	52	13	review	review	NOUN
gujaf-42	52	14	on	on	ADP
gujaf-42	52	15	the	the	DET
gujaf-42	52	16	relationship	relationship	NOUN
gujaf-42	52	17	between	between	ADP
gujaf-42	52	18	cash	cash	NOUN
gujaf-42	52	19	holdings	holding	NOUN
gujaf-42	52	20	and	and	CCONJ
gujaf-42	52	21	firm	firm	ADJ
gujaf-42	52	22	characteristics	characteristic	NOUN
gujaf-42	52	23	have	have	AUX
gujaf-42	52	24	focused	focus	VERB
gujaf-42	52	25	on	on	ADP
gujaf-42	52	26	developed	develop	VERB
gujaf-42	52	27	and	and	CCONJ
gujaf-42	52	28	developing	develop	VERB
gujaf-42	52	29	economies	economy	NOUN
gujaf-42	52	30	is	be	AUX
gujaf-42	52	31	inconclusive	inconclusive	ADJ
gujaf-42	52	32	.	.	PUNCT
gujaf-42	53	1	for	for	ADP
gujaf-42	53	2	example	example	NOUN
gujaf-42	53	3	,	,	PUNCT
gujaf-42	53	4	in	in	ADP
gujaf-42	53	5	belgium	belgium	NOUN
gujaf-42	53	6	,	,	PUNCT
gujaf-42	53	7	orens	oren	VERB
gujaf-42	53	8	and	and	CCONJ
gujaf-42	53	9	reheul	reheul	VERB
gujaf-42	53	10	(	(	PUNCT
gujaf-42	53	11	2013	2013	NUM
gujaf-42	53	12	)	)	PUNCT
gujaf-42	53	13	examine	examine	VERB
gujaf-42	53	14	the	the	DET
gujaf-42	53	15	idiosyncratic	idiosyncratic	ADJ
gujaf-42	53	16	manager	manager	NOUN
gujaf-42	53	17	specific	specific	ADJ
gujaf-42	53	18	influence	influence	NOUN
gujaf-42	53	19	on	on	ADP
gujaf-42	53	20	smes	sme	NOUN
gujaf-42	53	21	cash	cash	NOUN
gujaf-42	53	22	holdings	holding	NOUN
gujaf-42	53	23	;	;	PUNCT
gujaf-42	53	24	amess	amess	NOUN
gujaf-42	53	25	,	,	PUNCT
gujaf-42	53	26	banerji	banerji	NOUN
gujaf-42	53	27	,	,	PUNCT
gujaf-42	53	28	and	and	CCONJ
gujaf-42	53	29	lampousis	lampousis	NOUN
gujaf-42	53	30	(	(	PUNCT
gujaf-42	53	31	2015	2015	NUM
gujaf-42	53	32	)	)	PUNCT
gujaf-42	53	33	consider	consider	VERB
gujaf-42	53	34	the	the	DET
gujaf-42	53	35	causes	cause	NOUN
gujaf-42	53	36	and	and	CCONJ
gujaf-42	53	37	consequence	consequence	NOUN
gujaf-42	53	38	of	of	ADP
gujaf-42	53	39	corporate	corporate	ADJ
gujaf-42	53	40	cash	cash	NOUN
gujaf-42	53	41	holdings	holding	NOUN
gujaf-42	53	42	in	in	ADP
gujaf-42	53	43	the	the	DET
gujaf-42	53	44	united	united	PROPN
gujaf-42	53	45	states	states	PROPN
gujaf-42	53	46	;	;	PUNCT
gujaf-42	53	47	the	the	DET
gujaf-42	53	48	taiwan	taiwan	PROPN
gujaf-42	53	49	context	context	NOUN
gujaf-42	53	50	(	(	PUNCT
gujaf-42	53	51	kuan	kuan	PROPN
gujaf-42	53	52	et	et	PROPN
gujaf-42	53	53	,	,	PUNCT
gujaf-42	53	54	2011	2011	NUM
gujaf-42	53	55	)	)	PUNCT
gujaf-42	53	56	examines	examine	VERB
gujaf-42	53	57	the	the	DET
gujaf-42	53	58	relationship	relationship	NOUN
gujaf-42	53	59	between	between	ADP
gujaf-42	53	60	corporate	corporate	ADJ
gujaf-42	53	61	governance	governance	NOUN
gujaf-42	53	62	and	and	CCONJ
gujaf-42	53	63	cash	cash	NOUN
gujaf-42	53	64	policy	policy	NOUN
gujaf-42	53	65	within	within	ADP
gujaf-42	53	66	familycontrolled	familycontrolled	ADJ
gujaf-42	53	67	firms	firm	NOUN
gujaf-42	53	68	;	;	PUNCT
gujaf-42	53	69	the	the	DET
gujaf-42	53	70	vietnam	vietnam	PROPN
gujaf-42	53	71	context	context	NOUN
gujaf-42	53	72	(	(	PUNCT
gujaf-42	53	73	thi	thi	PROPN
gujaf-42	53	74	&	&	CCONJ
gujaf-42	53	75	nhan	nhan	NOUN
gujaf-42	53	76	,	,	PUNCT
gujaf-42	53	77	2016	2016	NUM
gujaf-42	53	78	)	)	PUNCT
gujaf-42	53	79	presents	present	VERB
gujaf-42	53	80	a	a	DET
gujaf-42	53	81	review	review	NOUN
gujaf-42	53	82	of	of	ADP
gujaf-42	53	83	cash	cash	NOUN
gujaf-42	53	84	holdings	holding	NOUN
gujaf-42	53	85	and	and	CCONJ
gujaf-42	53	86	corporate	corporate	ADJ
gujaf-42	53	87	governance	governance	NOUN
gujaf-42	53	88	mechanisms	mechanism	NOUN
gujaf-42	53	89	(	(	PUNCT
gujaf-42	53	90	barasa	barasa	PROPN
gujaf-42	53	91	,	,	PUNCT
gujaf-42	53	92	achoki	achoki	PROPN
gujaf-42	53	93	,	,	PUNCT
gujaf-42	53	94	&	&	CCONJ
gujaf-42	53	95	njuguna	njuguna	PROPN
gujaf-42	53	96	,	,	PUNCT
gujaf-42	53	97	2018	2018	NUM
gujaf-42	53	98	;	;	PUNCT
gujaf-42	53	99	al	al	PROPN
gujaf-42	53	100	-	-	PUNCT
gujaf-42	53	101	najjar	najjar	PROPN
gujaf-42	53	102	&	&	CCONJ
gujaf-42	53	103	clark	clark	PROPN
gujaf-42	53	104	,	,	PUNCT
gujaf-42	53	105	2017	2017	NUM
gujaf-42	53	106	)	)	PUNCT
gujaf-42	53	107	explore	explore	VERB
gujaf-42	53	108	the	the	DET
gujaf-42	53	109	relationship	relationship	NOUN
gujaf-42	53	110	amid	amid	ADP
gujaf-42	53	111	cash	cash	NOUN
gujaf-42	53	112	holdings	holding	NOUN
gujaf-42	53	113	and	and	CCONJ
gujaf-42	53	114	internal	internal	ADJ
gujaf-42	53	115	,	,	PUNCT
gujaf-42	53	116	external	external	ADJ
gujaf-42	53	117	governance	governance	NOUN
gujaf-42	53	118	mechanisms	mechanism	NOUN
gujaf-42	53	119	in	in	ADP
gujaf-42	53	120	middle	middle	PROPN
gujaf-42	53	121	east	east	PROPN
gujaf-42	53	122	and	and	CCONJ
gujaf-42	53	123	north	north	ADJ
gujaf-42	53	124	african	african	ADJ
gujaf-42	53	125	countries	country	NOUN
gujaf-42	53	126	.	.	PUNCT
gujaf-42	54	1	in	in	ADP
gujaf-42	54	2	nigeria	nigeria	PROPN
gujaf-42	54	3	,	,	PUNCT
gujaf-42	54	4	(	(	PUNCT
gujaf-42	54	5	lawrencia	lawrencia	PROPN
gujaf-42	54	6	olatunde	olatunde	PROPN
gujaf-42	54	7	ogundipe	ogundipe	PROPN
gujaf-42	54	8	,	,	PUNCT
gujaf-42	54	9	sunday	sunday	PROPN
gujaf-42	54	10	emmanuel	emmanuel	PROPN
gujaf-42	54	11	&	&	CCONJ
gujaf-42	54	12	ogundipe	ogundipe	PROPN
gujaf-42	54	13	,	,	PUNCT
gujaf-42	54	14	2012	2012	NUM
gujaf-42	54	15	)	)	PUNCT
gujaf-42	54	16	focused	focus	VERB
gujaf-42	54	17	on	on	ADP
gujaf-42	54	18	firm	firm	ADJ
gujaf-42	54	19	characteristics	characteristic	NOUN
gujaf-42	54	20	(	(	PUNCT
gujaf-42	54	21	using	use	VERB
gujaf-42	54	22	net	net	ADJ
gujaf-42	54	23	working	working	NOUN
gujaf-42	54	24	capital	capital	NOUN
gujaf-42	54	25	,	,	PUNCT
gujaf-42	54	26	firm	firm	ADJ
gujaf-42	54	27	size	size	NOUN
gujaf-42	54	28	,	,	PUNCT
gujaf-42	54	29	leverage	leverage	NOUN
gujaf-42	54	30	,	,	PUNCT
gujaf-42	54	31	return	return	VERB
gujaf-42	54	32	on	on	ADP
gujaf-42	54	33	asset	asset	NOUN
gujaf-42	54	34	,	,	PUNCT
gujaf-42	54	35	cash	cash	NOUN
gujaf-42	54	36	flow	flow	NOUN
gujaf-42	54	37	and	and	CCONJ
gujaf-42	54	38	investment	investment	NOUN
gujaf-42	54	39	opportunity	opportunity	NOUN
gujaf-42	54	40	)	)	PUNCT
gujaf-42	54	41	and	and	CCONJ
gujaf-42	54	42	cash	cash	NOUN
gujaf-42	54	43	holding	hold	VERB
gujaf-42	54	44	evidence	evidence	NOUN
gujaf-42	54	45	from	from	ADP
gujaf-42	54	46	emerging	emerge	VERB
gujaf-42	54	47	market	market	NOUN
gujaf-42	54	48	.	.	PUNCT
gujaf-42	55	1	similarly	similarly	ADV
gujaf-42	55	2	,	,	PUNCT
gujaf-42	55	3	ozordi	ozordi	X
gujaf-42	55	4	,	,	PUNCT
gujaf-42	55	5	(	(	PUNCT
gujaf-42	55	6	2020	2020	NUM
gujaf-42	55	7	)	)	PUNCT
gujaf-42	55	8	conducted	conduct	VERB
gujaf-42	55	9	studies	study	NOUN
gujaf-42	55	10	on	on	ADP
gujaf-42	55	11	corporate	corporate	ADJ
gujaf-42	55	12	dynamism	dynamism	NOUN
gujaf-42	55	13	(	(	PUNCT
gujaf-42	55	14	using	use	VERB
gujaf-42	55	15	board	board	NOUN
gujaf-42	55	16	skills	skill	NOUN
gujaf-42	55	17	,	,	PUNCT
gujaf-42	55	18	board	board	NOUN
gujaf-42	55	19	ownership	ownership	NOUN
gujaf-42	55	20	,	,	PUNCT
gujaf-42	55	21	director	director	NOUN
gujaf-42	55	22	’s	’s	PART
gujaf-42	55	23	compensation	compensation	NOUN
gujaf-42	55	24	and	and	CCONJ
gujaf-42	55	25	female	female	ADJ
gujaf-42	55	26	leadership	leadership	NOUN
gujaf-42	55	27	)	)	PUNCT
gujaf-42	55	28	and	and	CCONJ
gujaf-42	55	29	corporate	corporate	ADJ
gujaf-42	55	30	cash	cash	NOUN
gujaf-42	55	31	holding	holding	NOUN
gujaf-42	55	32	,	,	PUNCT
gujaf-42	55	33	evidence	evidence	NOUN
gujaf-42	55	34	from	from	ADP
gujaf-42	55	35	listed	list	VERB
gujaf-42	55	36	nigeria	nigeria	PROPN
gujaf-42	55	37	manufacturing	manufacturing	NOUN
gujaf-42	55	38	firms	firm	NOUN
gujaf-42	55	39	.	.	PUNCT
gujaf-42	56	1	in	in	ADP
gujaf-42	56	2	light	light	NOUN
gujaf-42	56	3	of	of	ADP
gujaf-42	56	4	the	the	DET
gujaf-42	56	5	above	above	ADJ
gujaf-42	56	6	,	,	PUNCT
gujaf-42	56	7	therefore	therefore	ADV
gujaf-42	56	8	,	,	PUNCT
gujaf-42	56	9	this	this	DET
gujaf-42	56	10	study	study	NOUN
gujaf-42	56	11	sought	seek	VERB
gujaf-42	56	12	to	to	PART
gujaf-42	56	13	enhance	enhance	VERB
gujaf-42	56	14	the	the	DET
gujaf-42	56	15	psychometric	psychometric	ADJ
gujaf-42	56	16	power	power	NOUN
gujaf-42	56	17	of	of	ADP
gujaf-42	56	18	the	the	DET
gujaf-42	56	19	variables	variable	NOUN
gujaf-42	56	20	(	(	PUNCT
gujaf-42	56	21	capex	capex	NOUN
gujaf-42	56	22	)	)	PUNCT
gujaf-42	56	23	by	by	ADP
gujaf-42	56	24	taking	take	VERB
gujaf-42	56	25	into	into	ADP
gujaf-42	56	26	congnisance	congnisance	NOUN
gujaf-42	56	27	the	the	DET
gujaf-42	56	28	measurement	measurement	NOUN
gujaf-42	56	29	of	of	ADP
gujaf-42	56	30	firm	firm	ADJ
gujaf-42	56	31	specific	specific	ADJ
gujaf-42	56	32	characteristic	characteristic	NOUN
gujaf-42	56	33	.	.	PUNCT
gujaf-42	57	1	however	however	ADV
gujaf-42	57	2	,	,	PUNCT
gujaf-42	57	3	there	there	PRON
gujaf-42	57	4	has	have	AUX
gujaf-42	57	5	been	be	AUX
gujaf-42	57	6	a	a	DET
gujaf-42	57	7	dearth	dearth	NOUN
gujaf-42	57	8	of	of	ADP
gujaf-42	57	9	literature	literature	NOUN
gujaf-42	57	10	in	in	ADP
gujaf-42	57	11	nigerian	nigerian	ADJ
gujaf-42	57	12	economy	economy	NOUN
gujaf-42	57	13	regarding	regard	VERB
gujaf-42	57	14	firm	firm	ADJ
gujaf-42	57	15	specific	specific	ADJ
gujaf-42	57	16	characteristic	characteristic	ADJ
gujaf-42	57	17	and	and	CCONJ
gujaf-42	57	18	cash	cash	NOUN
gujaf-42	57	19	holding	holding	NOUN
gujaf-42	57	20	in	in	ADP
gujaf-42	57	21	manufacturing	manufacturing	NOUN
gujaf-42	57	22	sector	sector	NOUN
gujaf-42	57	23	.	.	PUNCT
gujaf-42	58	1	more	more	ADV
gujaf-42	58	2	so	so	ADV
gujaf-42	58	3	,	,	PUNCT
gujaf-42	58	4	to	to	ADP
gujaf-42	58	5	the	the	DET
gujaf-42	58	6	best	good	ADJ
gujaf-42	58	7	of	of	ADP
gujaf-42	58	8	author	author	NOUN
gujaf-42	58	9	’s	’s	PART
gujaf-42	58	10	knowledge	knowledge	NOUN
gujaf-42	58	11	and	and	CCONJ
gujaf-42	58	12	from	from	ADP
gujaf-42	58	13	the	the	DET
gujaf-42	58	14	reviewed	review	VERB
gujaf-42	58	15	of	of	ADP
gujaf-42	58	16	prior	prior	ADJ
gujaf-42	58	17	literatures	literature	NOUN
gujaf-42	58	18	,	,	PUNCT
gujaf-42	58	19	no	no	DET
gujaf-42	58	20	work	work	NOUN
gujaf-42	58	21	has	have	AUX
gujaf-42	58	22	been	be	AUX
gujaf-42	58	23	conducted	conduct	VERB
gujaf-42	58	24	on	on	ADP
gujaf-42	58	25	firm	firm	ADJ
gujaf-42	58	26	specific	specific	ADJ
gujaf-42	58	27	characteristic	characteristic	NOUN
gujaf-42	58	28	(	(	PUNCT
gujaf-42	58	29	using	use	VERB
gujaf-42	58	30	capex	capex	NOUN
gujaf-42	58	31	)	)	PUNCT
gujaf-42	58	32	and	and	CCONJ
gujaf-42	58	33	cash	cash	NOUN
gujaf-42	58	34	holding	holding	NOUN
gujaf-42	58	35	in	in	ADP
gujaf-42	58	36	manufacturing	manufacturing	NOUN
gujaf-42	58	37	firms	firm	NOUN
gujaf-42	58	38	,	,	PUNCT
gujaf-42	58	39	nigeria	nigeria	PROPN
gujaf-42	58	40	.	.	PUNCT
gujaf-42	59	1	most	most	ADJ
gujaf-42	59	2	of	of	ADP
gujaf-42	59	3	the	the	DET
gujaf-42	59	4	previous	previous	ADJ
gujaf-42	59	5	literatures	literature	NOUN
gujaf-42	59	6	did	do	AUX
gujaf-42	59	7	not	not	PART
gujaf-42	59	8	pay	pay	VERB
gujaf-42	59	9	much	much	ADJ
gujaf-42	59	10	attention	attention	NOUN
gujaf-42	59	11	on	on	ADP
gujaf-42	59	12	capex	capex	NOUN
gujaf-42	59	13	as	as	ADP
gujaf-42	59	14	factors	factor	NOUN
gujaf-42	59	15	that	that	PRON
gujaf-42	59	16	could	could	AUX
gujaf-42	59	17	influence	influence	VERB
gujaf-42	59	18	cash	cash	NOUN
gujaf-42	59	19	holding	hold	VERB
gujaf-42	59	20	decision	decision	NOUN
gujaf-42	59	21	of	of	ADP
gujaf-42	59	22	the	the	DET
gujaf-42	59	23	organization	organization	NOUN
gujaf-42	59	24	.	.	PUNCT
gujaf-42	60	1	against	against	ADP
gujaf-42	60	2	this	this	DET
gujaf-42	60	3	conjuncture	conjuncture	NOUN
gujaf-42	60	4	,	,	PUNCT
gujaf-42	60	5	this	this	DET
gujaf-42	60	6	study	study	NOUN
gujaf-42	60	7	aims	aim	VERB
gujaf-42	60	8	to	to	PART
gujaf-42	60	9	explore	explore	VERB
gujaf-42	60	10	the	the	DET
gujaf-42	60	11	influence	influence	NOUN
gujaf-42	60	12	a	a	DET
gujaf-42	60	13	firm	firm	ADJ
gujaf-42	60	14	specific	specific	ADJ
gujaf-42	60	15	characteristic	characteristic	NOUN
gujaf-42	60	16	has	have	VERB
gujaf-42	60	17	on	on	ADP
gujaf-42	60	18	manufacturing	manufacture	VERB
gujaf-42	60	19	firm	firm	NOUN
gujaf-42	60	20	’s	’s	PART
gujaf-42	60	21	decision	decision	NOUN
gujaf-42	60	22	to	to	PART
gujaf-42	60	23	hold	hold	VERB
gujaf-42	60	24	cash	cash	NOUN
gujaf-42	60	25	.	.	PUNCT
gujaf-42	61	1	2.0	2.0	NUM
gujaf-42	61	2	literature	literature	PROPN
gujaf-42	61	3	review	review	VERB
gujaf-42	61	4	recent	recent	ADJ
gujaf-42	61	5	work	work	NOUN
gujaf-42	61	6	suggests	suggest	VERB
gujaf-42	61	7	three	three	NUM
gujaf-42	61	8	theoretical	theoretical	ADJ
gujaf-42	61	9	models	model	NOUN
gujaf-42	61	10	that	that	PRON
gujaf-42	61	11	can	can	AUX
gujaf-42	61	12	help	help	VERB
gujaf-42	61	13	define	define	VERB
gujaf-42	61	14	which	which	DET
gujaf-42	61	15	corporate	corporate	ADJ
gujaf-42	61	16	cash	cash	NOUN
gujaf-42	61	17	-	-	PUNCT
gujaf-42	61	18	keeping	keep	VERB
gujaf-42	61	19	decisions	decision	NOUN
gujaf-42	61	20	are	be	AUX
gujaf-42	61	21	made	make	VERB
gujaf-42	61	22	by	by	ADP
gujaf-42	61	23	the	the	DET
gujaf-42	61	24	characteristics	characteristic	NOUN
gujaf-42	61	25	of	of	ADP
gujaf-42	61	26	the	the	DET
gujaf-42	61	27	business	business	NOUN
gujaf-42	61	28	:	:	PUNCT
gujaf-42	61	29	trade	trade	NOUN
gujaf-42	61	30	-	-	PUNCT
gujaf-42	61	31	off	off	ADP
gujaf-42	61	32	theory	theory	NOUN
gujaf-42	61	33	,	,	PUNCT
gujaf-42	61	34	pecking	pecking	NOUN
gujaf-42	61	35	order	order	NOUN
gujaf-42	61	36	,	,	PUNCT
gujaf-42	61	37	and	and	CCONJ
gujaf-42	61	38	free	free	ADJ
gujaf-42	61	39	cash	cash	NOUN
gujaf-42	61	40	theory	theory	NOUN
gujaf-42	61	41	.	.	PUNCT
gujaf-42	62	1	therefore	therefore	ADV
gujaf-42	62	2	,	,	PUNCT
gujaf-42	62	3	we	we	PRON
gujaf-42	62	4	highlight	highlight	VERB
gujaf-42	62	5	the	the	DET
gujaf-42	62	6	results	result	NOUN
gujaf-42	62	7	of	of	ADP
gujaf-42	62	8	previous	previous	ADJ
gujaf-42	62	9	empirical	empirical	ADJ
gujaf-42	62	10	studies	study	NOUN
gujaf-42	62	11	.	.	PUNCT
gujaf-42	63	1	gusau	gusau	PROPN
gujaf-42	63	2	journal	journal	PROPN
gujaf-42	63	3	of	of	ADP
gujaf-42	63	4	accounting	accounting	NOUN
gujaf-42	63	5	and	and	CCONJ
gujaf-42	63	6	finance	finance	NOUN
gujaf-42	63	7	,	,	PUNCT
gujaf-42	63	8	vol	vol	NOUN
gujaf-42	63	9	.	.	PUNCT
gujaf-42	64	1	i	i	PRON
gujaf-42	64	2	,	,	PUNCT
gujaf-42	64	3	issue	issue	NOUN
gujaf-42	64	4	2	2	NUM
gujaf-42	64	5	,	,	PUNCT
gujaf-42	64	6	october	october	PROPN
gujaf-42	64	7	,	,	PUNCT
gujaf-42	64	8	2020	2020	NUM
gujaf-42	64	9	5	5	NUM
gujaf-42	64	10	2.1	2.1	NUM
gujaf-42	64	11	pecking	pecking	NOUN
gujaf-42	64	12	order	order	NOUN
gujaf-42	64	13	theory	theory	NOUN
gujaf-42	64	14	the	the	DET
gujaf-42	64	15	pecking	pecking	NOUN
gujaf-42	64	16	order	order	NOUN
gujaf-42	64	17	theory	theory	NOUN
gujaf-42	64	18	of	of	ADP
gujaf-42	64	19	myers	myers	PROPN
gujaf-42	64	20	(	(	PUNCT
gujaf-42	64	21	1984	1984	NUM
gujaf-42	64	22	)	)	PUNCT
gujaf-42	64	23	and	and	CCONJ
gujaf-42	64	24	myers	myers	PROPN
gujaf-42	64	25	and	and	CCONJ
gujaf-42	64	26	majluf	majluf	PROPN
gujaf-42	64	27	(	(	PUNCT
gujaf-42	64	28	1984	1984	NUM
gujaf-42	64	29	)	)	PUNCT
gujaf-42	64	30	asserts	assert	VERB
gujaf-42	64	31	that	that	SCONJ
gujaf-42	64	32	to	to	PART
gujaf-42	64	33	minimize	minimize	VERB
gujaf-42	64	34	asymmetric	asymmetric	ADJ
gujaf-42	64	35	information	information	NOUN
gujaf-42	64	36	costs	cost	NOUN
gujaf-42	64	37	and	and	CCONJ
gujaf-42	64	38	other	other	ADJ
gujaf-42	64	39	borrowing	borrowing	NOUN
gujaf-42	64	40	risks	risk	NOUN
gujaf-42	64	41	would	would	AUX
gujaf-42	64	42	be	be	AUX
gujaf-42	64	43	financed	finance	VERB
gujaf-42	64	44	first	first	ADV
gujaf-42	64	45	by	by	ADP
gujaf-42	64	46	companies	company	NOUN
gujaf-42	64	47	with	with	ADP
gujaf-42	64	48	retained	retain	VERB
gujaf-42	64	49	earnings	earning	NOUN
gujaf-42	64	50	,	,	PUNCT
gujaf-42	64	51	followed	follow	VERB
gujaf-42	64	52	by	by	ADP
gujaf-42	64	53	stable	stable	ADJ
gujaf-42	64	54	debt	debt	NOUN
gujaf-42	64	55	and	and	CCONJ
gujaf-42	64	56	volatile	volatile	ADJ
gujaf-42	64	57	debt	debt	NOUN
gujaf-42	64	58	,	,	PUNCT
gujaf-42	64	59	and	and	CCONJ
gujaf-42	64	60	lastly	lastly	ADV
gujaf-42	64	61	by	by	ADP
gujaf-42	64	62	equities	equity	NOUN
gujaf-42	64	63	.	.	PUNCT
gujaf-42	65	1	extending	extend	VERB
gujaf-42	65	2	this	this	DET
gujaf-42	65	3	principle	principle	NOUN
gujaf-42	65	4	to	to	PART
gujaf-42	65	5	clarify	clarify	VERB
gujaf-42	65	6	the	the	DET
gujaf-42	65	7	determinants	determinant	NOUN
gujaf-42	65	8	of	of	ADP
gujaf-42	65	9	cash	cash	NOUN
gujaf-42	65	10	leads	lead	VERB
gujaf-42	65	11	to	to	ADP
gujaf-42	65	12	the	the	DET
gujaf-42	65	13	assumption	assumption	NOUN
gujaf-42	65	14	that	that	SCONJ
gujaf-42	65	15	there	there	PRON
gujaf-42	65	16	is	be	VERB
gujaf-42	65	17	no	no	DET
gujaf-42	65	18	optimal	optimal	ADJ
gujaf-42	65	19	amount	amount	NOUN
gujaf-42	65	20	of	of	ADP
gujaf-42	65	21	cash	cash	NOUN
gujaf-42	65	22	,	,	PUNCT
gujaf-42	65	23	but	but	CCONJ
gujaf-42	65	24	that	that	SCONJ
gujaf-42	65	25	cash	cash	NOUN
gujaf-42	65	26	is	be	AUX
gujaf-42	65	27	seen	see	VERB
gujaf-42	65	28	as	as	ADP
gujaf-42	65	29	a	a	DET
gujaf-42	65	30	bridge	bridge	NOUN
gujaf-42	65	31	between	between	ADP
gujaf-42	65	32	remaining	remain	VERB
gujaf-42	65	33	earnings	earning	NOUN
gujaf-42	65	34	and	and	CCONJ
gujaf-42	65	35	spending	spending	NOUN
gujaf-42	65	36	requirements	requirement	NOUN
gujaf-42	65	37	.	.	PUNCT
gujaf-42	66	1	in	in	ADP
gujaf-42	66	2	this	this	DET
gujaf-42	66	3	theory	theory	NOUN
gujaf-42	66	4	,	,	PUNCT
gujaf-42	66	5	the	the	DET
gujaf-42	66	6	amount	amount	NOUN
gujaf-42	66	7	of	of	ADP
gujaf-42	66	8	cash	cash	NOUN
gujaf-42	66	9	will	will	AUX
gujaf-42	66	10	simply	simply	ADV
gujaf-42	66	11	be	be	AUX
gujaf-42	66	12	the	the	DET
gujaf-42	66	13	product	product	NOUN
gujaf-42	66	14	of	of	ADP
gujaf-42	66	15	the	the	DET
gujaf-42	66	16	options	option	NOUN
gujaf-42	66	17	to	to	PART
gujaf-42	66	18	finance	finance	VERB
gujaf-42	66	19	and	and	CCONJ
gujaf-42	66	20	spend	spend	NOUN
gujaf-42	66	21	.	.	PUNCT
gujaf-42	67	1	consequently	consequently	ADV
gujaf-42	67	2	,	,	PUNCT
gujaf-42	67	3	when	when	SCONJ
gujaf-42	67	4	existing	exist	VERB
gujaf-42	67	5	operating	operate	VERB
gujaf-42	67	6	cash	cash	NOUN
gujaf-42	67	7	flows	flow	NOUN
gujaf-42	67	8	are	be	AUX
gujaf-42	67	9	adequate	adequate	ADJ
gujaf-42	67	10	to	to	PART
gujaf-42	67	11	finance	finance	VERB
gujaf-42	67	12	capital	capital	NOUN
gujaf-42	67	13	acquisitions	acquisition	NOUN
gujaf-42	67	14	,	,	PUNCT
gujaf-42	67	15	companies	company	NOUN
gujaf-42	67	16	repay	repay	VERB
gujaf-42	67	17	loans	loan	NOUN
gujaf-42	67	18	,	,	PUNCT
gujaf-42	67	19	pay	pay	VERB
gujaf-42	67	20	dividends	dividend	NOUN
gujaf-42	67	21	,	,	PUNCT
gujaf-42	67	22	and	and	CCONJ
gujaf-42	67	23	eventually	eventually	ADV
gujaf-42	67	24	raise	raise	VERB
gujaf-42	67	25	cash	cash	NOUN
gujaf-42	67	26	.	.	PUNCT
gujaf-42	68	1	when	when	SCONJ
gujaf-42	68	2	retained	retain	VERB
gujaf-42	68	3	earnings	earning	NOUN
gujaf-42	68	4	are	be	AUX
gujaf-42	68	5	inadequate	inadequate	ADJ
gujaf-42	68	6	to	to	PART
gujaf-42	68	7	fund	fund	VERB
gujaf-42	68	8	existing	exist	VERB
gujaf-42	68	9	assets	asset	NOUN
gujaf-42	68	10	,	,	PUNCT
gujaf-42	68	11	companies	company	NOUN
gujaf-42	68	12	use	use	VERB
gujaf-42	68	13	accumulated	accumulate	VERB
gujaf-42	68	14	cash	cash	NOUN
gujaf-42	68	15	reserves	reserve	NOUN
gujaf-42	68	16	and	and	CCONJ
gujaf-42	68	17	,	,	PUNCT
gujaf-42	68	18	if	if	SCONJ
gujaf-42	68	19	necessary	necessary	ADJ
gujaf-42	68	20	,	,	PUNCT
gujaf-42	68	21	issue	issue	VERB
gujaf-42	68	22	new	new	ADJ
gujaf-42	68	23	debt	debt	NOUN
gujaf-42	68	24	and	and	CCONJ
gujaf-42	68	25	eventually	eventually	ADV
gujaf-42	68	26	issue	issue	VERB
gujaf-42	68	27	shares	share	NOUN
gujaf-42	68	28	as	as	SCONJ
gujaf-42	68	29	they	they	PRON
gujaf-42	68	30	reach	reach	VERB
gujaf-42	68	31	their	their	PRON
gujaf-42	68	32	debt	debt	NOUN
gujaf-42	68	33	service	service	NOUN
gujaf-42	68	34	capacity	capacity	NOUN
gujaf-42	68	35	.	.	PUNCT
gujaf-42	69	1	based	base	VERB
gujaf-42	69	2	on	on	ADP
gujaf-42	69	3	the	the	DET
gujaf-42	69	4	pecking	pecking	NOUN
gujaf-42	69	5	order	order	NOUN
gujaf-42	69	6	theory	theory	NOUN
gujaf-42	69	7	,	,	PUNCT
gujaf-42	69	8	firms	firm	NOUN
gujaf-42	69	9	with	with	ADP
gujaf-42	69	10	larger	large	ADJ
gujaf-42	69	11	investment	investment	NOUN
gujaf-42	69	12	expenses	expense	NOUN
gujaf-42	69	13	have	have	VERB
gujaf-42	69	14	less	less	ADJ
gujaf-42	69	15	or	or	CCONJ
gujaf-42	69	16	no	no	PRON
gujaf-42	69	17	surplus	surplus	NOUN
gujaf-42	69	18	from	from	ADP
gujaf-42	69	19	internally	internally	ADV
gujaf-42	69	20	generated	generate	VERB
gujaf-42	69	21	funds	fund	NOUN
gujaf-42	69	22	to	to	PART
gujaf-42	69	23	invest	invest	VERB
gujaf-42	69	24	in	in	ADP
gujaf-42	69	25	liquid	liquid	ADJ
gujaf-42	69	26	asset	asset	NOUN
gujaf-42	69	27	reserves	reserve	NOUN
gujaf-42	69	28	,	,	PUNCT
gujaf-42	69	29	and	and	CCONJ
gujaf-42	69	30	hence	hence	ADV
gujaf-42	69	31	they	they	PRON
gujaf-42	69	32	hold	hold	VERB
gujaf-42	69	33	less	less	ADJ
gujaf-42	69	34	liquid	liquid	ADJ
gujaf-42	69	35	assets	asset	NOUN
gujaf-42	69	36	(	(	PUNCT
gujaf-42	69	37	opler	opler	NOUN
gujaf-42	69	38	et	et	PROPN
gujaf-42	69	39	al	al	PROPN
gujaf-42	69	40	.	.	PROPN
gujaf-42	69	41	,	,	PUNCT
gujaf-42	69	42	1999	1999	NUM
gujaf-42	69	43	)	)	PUNCT
gujaf-42	69	44	.	.	PUNCT
gujaf-42	70	1	in	in	ADP
gujaf-42	70	2	the	the	DET
gujaf-42	70	3	same	same	ADJ
gujaf-42	70	4	vein	vein	NOUN
gujaf-42	70	5	,	,	PUNCT
gujaf-42	70	6	bates	bate	NOUN
gujaf-42	70	7	,	,	PUNCT
gujaf-42	70	8	kahle	kahle	PROPN
gujaf-42	70	9	,	,	PUNCT
gujaf-42	70	10	&	&	CCONJ
gujaf-42	70	11	stulz	stulz	ADJ
gujaf-42	70	12	(	(	PUNCT
gujaf-42	70	13	2009	2009	NUM
gujaf-42	70	14	)	)	PUNCT
gujaf-42	70	15	argue	argue	VERB
gujaf-42	70	16	that	that	SCONJ
gujaf-42	70	17	if	if	SCONJ
gujaf-42	70	18	capital	capital	NOUN
gujaf-42	70	19	expenditures	expenditure	NOUN
gujaf-42	70	20	create	create	VERB
gujaf-42	70	21	assets	asset	NOUN
gujaf-42	70	22	that	that	PRON
gujaf-42	70	23	can	can	AUX
gujaf-42	70	24	be	be	AUX
gujaf-42	70	25	used	use	VERB
gujaf-42	70	26	as	as	ADP
gujaf-42	70	27	collateral	collateral	NOUN
gujaf-42	70	28	,	,	PUNCT
gujaf-42	70	29	capital	capital	NOUN
gujaf-42	70	30	expenditures	expenditure	NOUN
gujaf-42	70	31	could	could	AUX
gujaf-42	70	32	increase	increase	VERB
gujaf-42	70	33	debt	debt	NOUN
gujaf-42	70	34	capacity	capacity	NOUN
gujaf-42	70	35	and	and	CCONJ
gujaf-42	70	36	reduce	reduce	VERB
gujaf-42	70	37	the	the	DET
gujaf-42	70	38	demand	demand	NOUN
gujaf-42	70	39	for	for	ADP
gujaf-42	70	40	cash	cash	NOUN
gujaf-42	70	41	.	.	PUNCT
gujaf-42	71	1	2.2	2.2	NUM
gujaf-42	71	2	firm	firm	ADJ
gujaf-42	71	3	specific	specific	ADJ
gujaf-42	71	4	characteristics	characteristic	NOUN
gujaf-42	71	5	and	and	CCONJ
gujaf-42	71	6	cash	cash	NOUN
gujaf-42	71	7	holding	hold	VERB
gujaf-42	71	8	cash	cash	NOUN
gujaf-42	71	9	holdings	holding	NOUN
gujaf-42	71	10	are	be	AUX
gujaf-42	71	11	an	an	DET
gujaf-42	71	12	essential	essential	ADJ
gujaf-42	71	13	part	part	NOUN
gujaf-42	71	14	of	of	ADP
gujaf-42	71	15	the	the	DET
gujaf-42	71	16	growth	growth	NOUN
gujaf-42	71	17	and	and	CCONJ
gujaf-42	71	18	survival	survival	NOUN
gujaf-42	71	19	of	of	ADP
gujaf-42	71	20	the	the	DET
gujaf-42	71	21	business	business	NOUN
gujaf-42	71	22	and	and	CCONJ
gujaf-42	71	23	receive	receive	VERB
gujaf-42	71	24	a	a	DET
gujaf-42	71	25	significant	significant	ADJ
gujaf-42	71	26	amount	amount	NOUN
gujaf-42	71	27	of	of	ADP
gujaf-42	71	28	interest	interest	NOUN
gujaf-42	71	29	from	from	ADP
gujaf-42	71	30	investors	investor	NOUN
gujaf-42	71	31	and	and	CCONJ
gujaf-42	71	32	financial	financial	ADJ
gujaf-42	71	33	analysts	analyst	NOUN
gujaf-42	71	34	.	.	PUNCT
gujaf-42	72	1	liquidity	liquidity	NOUN
gujaf-42	72	2	is	be	AUX
gujaf-42	72	3	measured	measure	VERB
gujaf-42	72	4	as	as	ADP
gujaf-42	72	5	the	the	DET
gujaf-42	72	6	ratio	ratio	NOUN
gujaf-42	72	7	of	of	ADP
gujaf-42	72	8	cash	cash	NOUN
gujaf-42	72	9	and	and	CCONJ
gujaf-42	72	10	cash	cash	NOUN
gujaf-42	72	11	equivalents	equivalent	NOUN
gujaf-42	72	12	to	to	ADP
gujaf-42	72	13	net	net	ADJ
gujaf-42	72	14	assets	asset	NOUN
gujaf-42	72	15	(	(	PUNCT
gujaf-42	72	16	ferreira	ferreira	PROPN
gujaf-42	72	17	&	&	CCONJ
gujaf-42	72	18	vilela	vilela	PROPN
gujaf-42	72	19	,	,	PUNCT
gujaf-42	72	20	2004	2004	NUM
gujaf-42	72	21	;	;	PUNCT
gujaf-42	72	22	opler	opler	X
gujaf-42	72	23	,	,	PUNCT
gujaf-42	72	24	pinkowitz	pinkowitz	PROPN
gujaf-42	72	25	l.	l.	PROPN
gujaf-42	72	26	,	,	PUNCT
gujaf-42	72	27	stulz	stulz	PROPN
gujaf-42	72	28	&	&	CCONJ
gujaf-42	72	29	williamson	williamson	PROPN
gujaf-42	72	30	1999	1999	NUM
gujaf-42	72	31	)	)	PUNCT
gujaf-42	72	32	.	.	PUNCT
gujaf-42	73	1	this	this	DET
gujaf-42	73	2	relationship	relationship	NOUN
gujaf-42	73	3	deviates	deviate	VERB
gujaf-42	73	4	from	from	ADP
gujaf-42	73	5	numerous	numerous	ADJ
gujaf-42	73	6	factors	factor	NOUN
gujaf-42	73	7	such	such	ADJ
gujaf-42	73	8	as	as	ADP
gujaf-42	73	9	the	the	DET
gujaf-42	73	10	industry	industry	NOUN
gujaf-42	73	11	and	and	CCONJ
gujaf-42	73	12	the	the	DET
gujaf-42	73	13	characteristics	characteristic	NOUN
gujaf-42	73	14	of	of	ADP
gujaf-42	73	15	the	the	DET
gujaf-42	73	16	company	company	NOUN
gujaf-42	73	17	.	.	PUNCT
gujaf-42	74	1	nevertheless	nevertheless	ADV
gujaf-42	74	2	,	,	PUNCT
gujaf-42	74	3	some	some	DET
gujaf-42	74	4	studies	study	NOUN
gujaf-42	74	5	such	such	ADJ
gujaf-42	74	6	as	as	ADP
gujaf-42	74	7	that	that	PRON
gujaf-42	74	8	of	of	ADP
gujaf-42	74	9	guney	guney	NOUN
gujaf-42	74	10	et	et	PROPN
gujaf-42	74	11	al	al	PROPN
gujaf-42	74	12	.	.	PUNCT
gujaf-42	75	1	(	(	PUNCT
gujaf-42	75	2	2007	2007	NUM
gujaf-42	75	3	)	)	PUNCT
gujaf-42	75	4	found	find	VERB
gujaf-42	75	5	a	a	DET
gujaf-42	75	6	negative	negative	ADJ
gujaf-42	75	7	relationship	relationship	NOUN
gujaf-42	75	8	in	in	ADP
gujaf-42	75	9	low	low	ADJ
gujaf-42	75	10	levels	level	NOUN
gujaf-42	75	11	of	of	ADP
gujaf-42	75	12	debt	debt	NOUN
gujaf-42	75	13	between	between	ADP
gujaf-42	75	14	cash	cash	NOUN
gujaf-42	75	15	and	and	CCONJ
gujaf-42	75	16	leverage	leverage	NOUN
gujaf-42	75	17	,	,	PUNCT
gujaf-42	75	18	since	since	SCONJ
gujaf-42	75	19	debt	debt	NOUN
gujaf-42	75	20	increased	increase	VERB
gujaf-42	75	21	the	the	DET
gujaf-42	75	22	relationship	relationship	NOUN
gujaf-42	75	23	.	.	PUNCT
gujaf-42	76	1	nguyen	nguyen	NOUN
gujaf-42	76	2	(	(	PUNCT
gujaf-42	76	3	2006	2006	NUM
gujaf-42	76	4	)	)	PUNCT
gujaf-42	76	5	investigated	investigate	VERB
gujaf-42	76	6	the	the	DET
gujaf-42	76	7	hypothesis	hypothesis	NOUN
gujaf-42	76	8	that	that	PRON
gujaf-42	76	9	cash	cash	NOUN
gujaf-42	76	10	balances	balance	NOUN
gujaf-42	76	11	have	have	VERB
gujaf-42	76	12	a	a	DET
gujaf-42	76	13	precautionary	precautionary	ADJ
gujaf-42	76	14	motive	motive	NOUN
gujaf-42	76	15	and	and	CCONJ
gujaf-42	76	16	serve	serve	VERB
gujaf-42	76	17	to	to	PART
gujaf-42	76	18	mitigate	mitigate	VERB
gujaf-42	76	19	the	the	DET
gujaf-42	76	20	volatility	volatility	NOUN
gujaf-42	76	21	of	of	ADP
gujaf-42	76	22	operating	operate	VERB
gujaf-42	76	23	earnings	earning	NOUN
gujaf-42	76	24	.	.	PUNCT
gujaf-42	77	1	using	use	VERB
gujaf-42	77	2	a	a	DET
gujaf-42	77	3	sample	sample	NOUN
gujaf-42	77	4	of	of	ADP
gujaf-42	77	5	9,168	9,168	NUM
gujaf-42	77	6	firm	firm	ADJ
gujaf-42	77	7	-	-	PUNCT
gujaf-42	77	8	year	year	NOUN
gujaf-42	77	9	observations	observation	NOUN
gujaf-42	77	10	from	from	ADP
gujaf-42	77	11	tokyo	tokyo	PROPN
gujaf-42	77	12	stock	stock	NOUN
gujaf-42	77	13	exchange	exchange	NOUN
gujaf-42	77	14	for	for	ADP
gujaf-42	77	15	the	the	DET
gujaf-42	77	16	period	period	NOUN
gujaf-42	77	17	of	of	ADP
gujaf-42	77	18	1992	1992	NUM
gujaf-42	77	19	to	to	ADP
gujaf-42	77	20	2003	2003	NUM
gujaf-42	77	21	,	,	PUNCT
gujaf-42	77	22	through	through	ADP
gujaf-42	77	23	regression	regression	NOUN
gujaf-42	77	24	analysis	analysis	NOUN
gujaf-42	77	25	,	,	PUNCT
gujaf-42	77	26	he	he	PRON
gujaf-42	77	27	found	find	VERB
gujaf-42	77	28	that	that	SCONJ
gujaf-42	77	29	cash	cash	NOUN
gujaf-42	77	30	holding	holding	NOUN
gujaf-42	77	31	increases	increase	NOUN
gujaf-42	77	32	with	with	ADP
gujaf-42	77	33	its	its	PRON
gujaf-42	77	34	profitability	profitability	NOUN
gujaf-42	77	35	growth	growth	NOUN
gujaf-42	77	36	.	.	PUNCT
gujaf-42	78	1	megginson	megginson	PROPN
gujaf-42	78	2	&	&	CCONJ
gujaf-42	78	3	wei	wei	PROPN
gujaf-42	78	4	(	(	PUNCT
gujaf-42	78	5	2010	2010	NUM
gujaf-42	78	6	)	)	PUNCT
gujaf-42	78	7	studied	study	VERB
gujaf-42	78	8	the	the	DET
gujaf-42	78	9	determinants	determinant	NOUN
gujaf-42	78	10	of	of	ADP
gujaf-42	78	11	cash	cash	NOUN
gujaf-42	78	12	holdings	holding	NOUN
gujaf-42	78	13	and	and	CCONJ
gujaf-42	78	14	the	the	DET
gujaf-42	78	15	value	value	NOUN
gujaf-42	78	16	of	of	ADP
gujaf-42	78	17	cash	cash	NOUN
gujaf-42	78	18	in	in	ADP
gujaf-42	78	19	china	china	PROPN
gujaf-42	78	20	’s	’s	PART
gujaf-42	78	21	share	share	NOUN
gujaf-42	78	22	-	-	PUNCT
gujaf-42	78	23	issue	issue	NOUN
gujaf-42	78	24	privatized	privatized	ADJ
gujaf-42	78	25	firms	firm	NOUN
gujaf-42	78	26	from	from	ADP
gujaf-42	78	27	1993	1993	NUM
gujaf-42	78	28	to	to	ADP
gujaf-42	78	29	2007	2007	NUM
gujaf-42	78	30	.	.	PUNCT
gujaf-42	79	1	through	through	ADP
gujaf-42	79	2	regression	regression	NOUN
gujaf-42	79	3	analysis	analysis	NOUN
gujaf-42	79	4	,	,	PUNCT
gujaf-42	79	5	they	they	PRON
gujaf-42	79	6	also	also	ADV
gujaf-42	79	7	found	find	VERB
gujaf-42	79	8	that	that	SCONJ
gujaf-42	79	9	more	more	ADV
gujaf-42	79	10	profitable	profitable	ADJ
gujaf-42	79	11	firms	firm	NOUN
gujaf-42	79	12	hold	hold	VERB
gujaf-42	79	13	more	more	ADJ
gujaf-42	79	14	cash	cash	NOUN
gujaf-42	79	15	.	.	PUNCT
gujaf-42	80	1	gusau	gusau	ADJ
gujaf-42	80	2	journal	journal	PROPN
gujaf-42	80	3	of	of	ADP
gujaf-42	80	4	accounting	accounting	NOUN
gujaf-42	80	5	and	and	CCONJ
gujaf-42	80	6	finance	finance	NOUN
gujaf-42	80	7	,	,	PUNCT
gujaf-42	80	8	vol	vol	NOUN
gujaf-42	80	9	.	.	PUNCT
gujaf-42	81	1	i	i	PRON
gujaf-42	81	2	,	,	PUNCT
gujaf-42	81	3	issue	issue	NOUN
gujaf-42	81	4	2	2	NUM
gujaf-42	81	5	,	,	PUNCT
gujaf-42	81	6	october	october	PROPN
gujaf-42	81	7	,	,	PUNCT
gujaf-42	81	8	2020	2020	NUM
gujaf-42	81	9	6	6	NUM
gujaf-42	81	10	in	in	ADP
gujaf-42	81	11	addition	addition	NOUN
gujaf-42	81	12	,	,	PUNCT
gujaf-42	81	13	barasa	barasa	PROPN
gujaf-42	81	14	,	,	PUNCT
gujaf-42	81	15	achoki	achoki	PROPN
gujaf-42	81	16	,	,	PUNCT
gujaf-42	81	17	and	and	CCONJ
gujaf-42	81	18	njuguna	njuguna	ADP
gujaf-42	81	19	,	,	PUNCT
gujaf-42	81	20	(	(	PUNCT
gujaf-42	81	21	2018	2018	NUM
gujaf-42	81	22	)	)	PUNCT
gujaf-42	81	23	determinants	determinant	NOUN
gujaf-42	81	24	of	of	ADP
gujaf-42	81	25	corporate	corporate	ADJ
gujaf-42	81	26	cash	cash	NOUN
gujaf-42	81	27	holding	holding	NOUN
gujaf-42	81	28	of	of	ADP
gujaf-42	81	29	non	non	ADJ
gujaf-42	81	30	-	-	ADJ
gujaf-42	81	31	financial	financial	ADJ
gujaf-42	81	32	firms	firm	NOUN
gujaf-42	81	33	listed	list	VERB
gujaf-42	81	34	on	on	ADP
gujaf-42	81	35	the	the	DET
gujaf-42	81	36	nairobi	nairobi	PROPN
gujaf-42	81	37	securities	securities	PROPN
gujaf-42	81	38	exchange	exchange	PROPN
gujaf-42	81	39	.	.	PUNCT
gujaf-42	82	1	the	the	DET
gujaf-42	82	2	results	result	NOUN
gujaf-42	82	3	of	of	ADP
gujaf-42	82	4	ols	ol	NOUN
gujaf-42	82	5	with	with	ADP
gujaf-42	82	6	year	year	NOUN
gujaf-42	82	7	and	and	CCONJ
gujaf-42	82	8	industry	industry	NOUN
gujaf-42	82	9	dummies	dummy	NOUN
gujaf-42	82	10	and	and	CCONJ
gujaf-42	82	11	panel	panel	NOUN
gujaf-42	82	12	data	datum	NOUN
gujaf-42	82	13	models	model	NOUN
gujaf-42	82	14	show	show	VERB
gujaf-42	82	15	that	that	SCONJ
gujaf-42	82	16	there	there	PRON
gujaf-42	82	17	exists	exist	VERB
gujaf-42	82	18	significant	significant	ADJ
gujaf-42	82	19	positive	positive	ADJ
gujaf-42	82	20	and	and	CCONJ
gujaf-42	82	21	negative	negative	ADJ
gujaf-42	82	22	.	.	PUNCT
gujaf-42	83	1	more	more	ADV
gujaf-42	83	2	so	so	ADV
gujaf-42	83	3	,	,	PUNCT
gujaf-42	83	4	islam(2012	islam(2012	ADJ
gujaf-42	83	5	)	)	PUNCT
gujaf-42	83	6	,	,	PUNCT
gujaf-42	83	7	manufacturing	manufacturing	NOUN
gujaf-42	83	8	firms	firm	NOUN
gujaf-42	83	9	’	'	PUNCT
gujaf-42	83	10	cash	cash	NOUN
gujaf-42	83	11	holding	hold	VERB
gujaf-42	83	12	determinants	determinant	NOUN
gujaf-42	83	13	:	:	PUNCT
gujaf-42	83	14	evidence	evidence	NOUN
gujaf-42	83	15	from	from	ADP
gujaf-42	83	16	bangladesh	bangladesh	PROPN
gujaf-42	83	17	.	.	PUNCT
gujaf-42	84	1	the	the	DET
gujaf-42	84	2	data	datum	NOUN
gujaf-42	84	3	set	set	NOUN
gujaf-42	84	4	contains	contain	VERB
gujaf-42	84	5	five	five	NUM
gujaf-42	84	6	years	year	NOUN
gujaf-42	84	7	’	'	PUNCT
gujaf-42	84	8	(	(	PUNCT
gujaf-42	84	9	2006	2006	NUM
gujaf-42	84	10	-	-	SYM
gujaf-42	84	11	2010	2010	NUM
gujaf-42	84	12	)	)	PUNCT
gujaf-42	84	13	data	datum	NOUN
gujaf-42	84	14	of	of	ADP
gujaf-42	84	15	firm	firm	ADJ
gujaf-42	84	16	specific	specific	ADJ
gujaf-42	84	17	variables	variable	NOUN
gujaf-42	84	18	.	.	PUNCT
gujaf-42	85	1	regression	regression	NOUN
gujaf-42	85	2	analysis	analysis	NOUN
gujaf-42	85	3	considered	consider	VERB
gujaf-42	85	4	sufficient	sufficient	ADJ
gujaf-42	85	5	for	for	ADP
gujaf-42	85	6	hypothetically	hypothetically	ADV
gujaf-42	85	7	assumed	assume	VERB
gujaf-42	85	8	least	least	ADJ
gujaf-42	85	9	squared	square	VERB
gujaf-42	85	10	model	model	NOUN
gujaf-42	85	11	.	.	PUNCT
gujaf-42	86	1	the	the	DET
gujaf-42	86	2	analysis	analysis	NOUN
gujaf-42	86	3	showed	show	VERB
gujaf-42	86	4	all	all	PRON
gujaf-42	86	5	considered	consider	VERB
gujaf-42	86	6	variables	variable	NOUN
gujaf-42	86	7	other	other	ADJ
gujaf-42	86	8	than	than	ADP
gujaf-42	86	9	net	net	ADJ
gujaf-42	86	10	working	working	NOUN
gujaf-42	86	11	capital	capital	NOUN
gujaf-42	86	12	,	,	PUNCT
gujaf-42	86	13	tobin	tobin	PROPN
gujaf-42	86	14	’s	’s	PART
gujaf-42	86	15	q	q	NOUN
gujaf-42	86	16	and	and	CCONJ
gujaf-42	86	17	volatility	volatility	NOUN
gujaf-42	86	18	of	of	ADP
gujaf-42	86	19	cash	cash	NOUN
gujaf-42	86	20	flow	flow	NOUN
gujaf-42	86	21	hold	hold	VERB
gujaf-42	86	22	significant	significant	ADJ
gujaf-42	86	23	relationship	relationship	NOUN
gujaf-42	86	24	with	with	ADP
gujaf-42	86	25	cash	cash	NOUN
gujaf-42	86	26	hold	hold	NOUN
gujaf-42	86	27	by	by	ADP
gujaf-42	86	28	the	the	DET
gujaf-42	86	29	firms	firm	NOUN
gujaf-42	86	30	,	,	PUNCT
gujaf-42	86	31	which	which	PRON
gujaf-42	86	32	contain	contain	VERB
gujaf-42	86	33	cash	cash	NOUN
gujaf-42	86	34	and	and	CCONJ
gujaf-42	86	35	cash	cash	NOUN
gujaf-42	86	36	equivalent	equivalent	NOUN
gujaf-42	86	37	.	.	PUNCT
gujaf-42	87	1	lawrencia	lawrencia	PROPN
gujaf-42	87	2	,	,	PUNCT
gujaf-42	87	3	sunday	sunday	PROPN
gujaf-42	87	4	,	,	PUNCT
gujaf-42	87	5	and	and	CCONJ
gujaf-42	87	6	ajao	ajao	NOUN
gujaf-42	87	7	(	(	PUNCT
gujaf-42	87	8	2012	2012	NUM
gujaf-42	87	9	)	)	PUNCT
gujaf-42	87	10	,	,	PUNCT
gujaf-42	87	11	investigated	investigate	VERB
gujaf-42	87	12	the	the	DET
gujaf-42	87	13	relationship	relationship	NOUN
gujaf-42	87	14	between	between	ADP
gujaf-42	87	15	cash	cash	NOUN
gujaf-42	87	16	holding	holding	NOUN
gujaf-42	87	17	and	and	CCONJ
gujaf-42	87	18	firm	firm	ADJ
gujaf-42	87	19	characteristics	characteristic	NOUN
gujaf-42	87	20	.	.	PUNCT
gujaf-42	88	1	a	a	DET
gujaf-42	88	2	sample	sample	NOUN
gujaf-42	88	3	of	of	ADP
gujaf-42	88	4	54	54	NUM
gujaf-42	88	5	nigerian	nigerian	ADJ
gujaf-42	88	6	firms	firm	NOUN
gujaf-42	88	7	listed	list	VERB
gujaf-42	88	8	on	on	ADP
gujaf-42	88	9	nigerian	nigerian	ADJ
gujaf-42	88	10	stock	stock	NOUN
gujaf-42	88	11	exchange	exchange	NOUN
gujaf-42	88	12	for	for	ADP
gujaf-42	88	13	a	a	DET
gujaf-42	88	14	period	period	NOUN
gujaf-42	88	15	of	of	ADP
gujaf-42	88	16	15	15	NUM
gujaf-42	88	17	years	year	NOUN
gujaf-42	88	18	(	(	PUNCT
gujaf-42	88	19	from	from	ADP
gujaf-42	88	20	1995	1995	NUM
gujaf-42	88	21	-	-	SYM
gujaf-42	88	22	2010	2010	NUM
gujaf-42	88	23	)	)	PUNCT
gujaf-42	88	24	was	be	AUX
gujaf-42	88	25	selected	select	VERB
gujaf-42	88	26	.	.	PUNCT
gujaf-42	89	1	this	this	DET
gujaf-42	89	2	study	study	NOUN
gujaf-42	89	3	applied	apply	VERB
gujaf-42	89	4	co	co	ADJ
gujaf-42	89	5	-	-	ADJ
gujaf-42	89	6	relational	relational	ADJ
gujaf-42	89	7	research	research	NOUN
gujaf-42	89	8	design	design	NOUN
gujaf-42	89	9	.	.	PUNCT
gujaf-42	90	1	the	the	DET
gujaf-42	90	2	results	result	NOUN
gujaf-42	90	3	show	show	VERB
gujaf-42	90	4	that	that	SCONJ
gujaf-42	90	5	cash	cash	NOUN
gujaf-42	90	6	flow	flow	NOUN
gujaf-42	90	7	,	,	PUNCT
gujaf-42	90	8	net	net	ADJ
gujaf-42	90	9	working	working	NOUN
gujaf-42	90	10	capital	capital	NOUN
gujaf-42	90	11	,	,	PUNCT
gujaf-42	90	12	leverage	leverage	NOUN
gujaf-42	90	13	,	,	PUNCT
gujaf-42	90	14	profitability	profitability	NOUN
gujaf-42	90	15	and	and	CCONJ
gujaf-42	90	16	investment	investment	NOUN
gujaf-42	90	17	in	in	ADP
gujaf-42	90	18	capital	capital	NOUN
gujaf-42	90	19	expenditure	expenditure	NOUN
gujaf-42	90	20	significantly	significantly	ADV
gujaf-42	90	21	affect	affect	VERB
gujaf-42	90	22	the	the	DET
gujaf-42	90	23	corporate	corporate	ADJ
gujaf-42	90	24	cash	cash	NOUN
gujaf-42	90	25	holdings	holding	NOUN
gujaf-42	90	26	in	in	ADP
gujaf-42	90	27	nigeria	nigeria	PROPN
gujaf-42	90	28	.	.	PUNCT
gujaf-42	91	1	from	from	ADP
gujaf-42	91	2	a	a	DET
gujaf-42	91	3	study	study	NOUN
gujaf-42	91	4	of	of	ADP
gujaf-42	91	5	swiss	swiss	ADJ
gujaf-42	91	6	firms	firm	NOUN
gujaf-42	91	7	drobetz	drobetz	VERB
gujaf-42	91	8	and	and	CCONJ
gujaf-42	91	9	grüninger	grüning	ADJ
gujaf-42	91	10	(	(	PUNCT
gujaf-42	91	11	2007	2007	NUM
gujaf-42	91	12	)	)	PUNCT
gujaf-42	91	13	report	report	VERB
gujaf-42	91	14	an	an	DET
gujaf-42	91	15	inverse	inverse	NOUN
gujaf-42	91	16	relationship	relationship	NOUN
gujaf-42	91	17	between	between	ADP
gujaf-42	91	18	firm	firm	ADJ
gujaf-42	91	19	size	size	NOUN
gujaf-42	91	20	and	and	CCONJ
gujaf-42	91	21	cash	cash	NOUN
gujaf-42	91	22	holdings	holding	NOUN
gujaf-42	91	23	relationship	relationship	NOUN
gujaf-42	91	24	between	between	ADP
gujaf-42	91	25	cash	cash	NOUN
gujaf-42	91	26	holding	holding	NOUN
gujaf-42	91	27	and	and	CCONJ
gujaf-42	91	28	cash	cash	NOUN
gujaf-42	91	29	flow	flow	NOUN
gujaf-42	91	30	and	and	CCONJ
gujaf-42	91	31	leverage	leverage	NOUN
gujaf-42	91	32	respectively	respectively	ADV
gujaf-42	91	33	and	and	CCONJ
gujaf-42	91	34	insignificant	insignificant	ADJ
gujaf-42	91	35	relationship	relationship	NOUN
gujaf-42	91	36	between	between	ADP
gujaf-42	91	37	cash	cash	NOUN
gujaf-42	91	38	holding	holding	NOUN
gujaf-42	91	39	and	and	CCONJ
gujaf-42	91	40	market	market	NOUN
gujaf-42	91	41	-	-	PUNCT
gujaf-42	91	42	to	to	ADP
gujaf-42	91	43	-	-	PUNCT
gujaf-42	91	44	book	book	NOUN
gujaf-42	91	45	value	value	NOUN
gujaf-42	91	46	and	and	CCONJ
gujaf-42	91	47	firm	firm	ADJ
gujaf-42	91	48	size	size	NOUN
gujaf-42	91	49	.	.	PUNCT
gujaf-42	92	1	hence	hence	ADV
gujaf-42	92	2	,	,	PUNCT
gujaf-42	92	3	based	base	VERB
gujaf-42	92	4	on	on	ADP
gujaf-42	92	5	the	the	DET
gujaf-42	92	6	previous	previous	ADJ
gujaf-42	92	7	discussions	discussion	NOUN
gujaf-42	92	8	,	,	PUNCT
gujaf-42	92	9	our	our	PRON
gujaf-42	92	10	hypotheses	hypothesis	NOUN
gujaf-42	92	11	are	be	AUX
gujaf-42	92	12	stated	state	VERB
gujaf-42	92	13	as	as	SCONJ
gujaf-42	92	14	follows	follow	VERB
gujaf-42	92	15	:	:	PUNCT
gujaf-42	92	16	h1	h1	NOUN
gujaf-42	92	17	:	:	PUNCT
gujaf-42	92	18	profitability	profitability	NOUN
gujaf-42	92	19	has	have	VERB
gujaf-42	92	20	no	no	DET
gujaf-42	92	21	significant	significant	ADJ
gujaf-42	92	22	effect	effect	NOUN
gujaf-42	92	23	on	on	ADP
gujaf-42	92	24	cash	cash	NOUN
gujaf-42	92	25	holding	holding	NOUN
gujaf-42	92	26	of	of	ADP
gujaf-42	92	27	listed	list	VERB
gujaf-42	92	28	manufacturing	manufacturing	NOUN
gujaf-42	92	29	firms	firm	NOUN
gujaf-42	92	30	in	in	ADP
gujaf-42	92	31	nigeria	nigeria	PROPN
gujaf-42	92	32	h2	h2	PROPN
gujaf-42	92	33	:	:	PUNCT
gujaf-42	92	34	leverages	leverage	NOUN
gujaf-42	92	35	has	have	VERB
gujaf-42	92	36	no	no	DET
gujaf-42	92	37	significant	significant	ADJ
gujaf-42	92	38	effect	effect	NOUN
gujaf-42	92	39	on	on	ADP
gujaf-42	92	40	cash	cash	NOUN
gujaf-42	92	41	holding	holding	NOUN
gujaf-42	92	42	of	of	ADP
gujaf-42	92	43	listed	list	VERB
gujaf-42	92	44	manufacturing	manufacturing	NOUN
gujaf-42	92	45	firms	firm	NOUN
gujaf-42	92	46	in	in	ADP
gujaf-42	92	47	nigeria	nigeria	PROPN
gujaf-42	92	48	h3	h3	NOUN
gujaf-42	92	49	:	:	PUNCT
gujaf-42	92	50	net	net	ADJ
gujaf-42	92	51	working	working	NOUN
gujaf-42	92	52	capital	capital	NOUN
gujaf-42	92	53	has	have	VERB
gujaf-42	92	54	no	no	DET
gujaf-42	92	55	significant	significant	ADJ
gujaf-42	92	56	effect	effect	NOUN
gujaf-42	92	57	on	on	ADP
gujaf-42	92	58	cash	cash	NOUN
gujaf-42	92	59	holding	holding	NOUN
gujaf-42	92	60	of	of	ADP
gujaf-42	92	61	listed	list	VERB
gujaf-42	92	62	manufacturing	manufacturing	NOUN
gujaf-42	92	63	firms	firm	NOUN
gujaf-42	92	64	in	in	ADP
gujaf-42	92	65	nigeria	nigeria	PROPN
gujaf-42	92	66	h4	h4	PROPN
gujaf-42	92	67	:	:	PUNCT
gujaf-42	92	68	capex	capex	PROPN
gujaf-42	92	69	has	have	VERB
gujaf-42	92	70	no	no	DET
gujaf-42	92	71	significant	significant	ADJ
gujaf-42	92	72	effect	effect	NOUN
gujaf-42	92	73	on	on	ADP
gujaf-42	92	74	cash	cash	NOUN
gujaf-42	92	75	holding	holding	NOUN
gujaf-42	92	76	of	of	ADP
gujaf-42	92	77	listed	list	VERB
gujaf-42	92	78	manufacturing	manufacturing	NOUN
gujaf-42	92	79	firms	firm	NOUN
gujaf-42	92	80	in	in	ADP
gujaf-42	92	81	nigeria	nigeria	PROPN
gujaf-42	92	82	3	3	NUM
gujaf-42	92	83	.	.	PUNCT
gujaf-42	92	84	methodology	methodology	NOUN
gujaf-42	92	85	the	the	DET
gujaf-42	92	86	purpose	purpose	NOUN
gujaf-42	92	87	of	of	ADP
gujaf-42	92	88	this	this	DET
gujaf-42	92	89	study	study	NOUN
gujaf-42	92	90	is	be	AUX
gujaf-42	92	91	to	to	PART
gujaf-42	92	92	investigate	investigate	VERB
gujaf-42	92	93	the	the	DET
gujaf-42	92	94	effect	effect	NOUN
gujaf-42	92	95	of	of	ADP
gujaf-42	92	96	firm	firm	ADJ
gujaf-42	92	97	-	-	PUNCT
gujaf-42	92	98	specific	specific	ADJ
gujaf-42	92	99	characteristics	characteristic	NOUN
gujaf-42	92	100	on	on	ADP
gujaf-42	92	101	corporate	corporate	ADJ
gujaf-42	92	102	cash	cash	NOUN
gujaf-42	92	103	holding	holding	NOUN
gujaf-42	92	104	.	.	PUNCT
gujaf-42	93	1	thus	thus	ADV
gujaf-42	93	2	,	,	PUNCT
gujaf-42	93	3	this	this	DET
gujaf-42	93	4	study	study	NOUN
gujaf-42	93	5	adopted	adopt	VERB
gujaf-42	93	6	the	the	DET
gujaf-42	93	7	correlational	correlational	ADJ
gujaf-42	93	8	research	research	NOUN
gujaf-42	93	9	design	design	NOUN
gujaf-42	93	10	.	.	PUNCT
gujaf-42	94	1	this	this	DET
gujaf-42	94	2	design	design	NOUN
gujaf-42	94	3	is	be	AUX
gujaf-42	94	4	informed	inform	VERB
gujaf-42	94	5	by	by	ADP
gujaf-42	94	6	the	the	DET
gujaf-42	94	7	research	research	NOUN
gujaf-42	94	8	paradigm	paradigm	NOUN
gujaf-42	94	9	which	which	PRON
gujaf-42	94	10	is	be	AUX
gujaf-42	94	11	the	the	DET
gujaf-42	94	12	positivism	positivism	NOUN
gujaf-42	94	13	approach	approach	NOUN
gujaf-42	94	14	.	.	PUNCT
gujaf-42	95	1	there	there	PRON
gujaf-42	95	2	were	be	VERB
gujaf-42	95	3	51	51	NUM
gujaf-42	95	4	manufacturing	manufacturing	NOUN
gujaf-42	95	5	companies	company	NOUN
gujaf-42	95	6	quoted	quote	VERB
gujaf-42	95	7	on	on	ADP
gujaf-42	95	8	the	the	DET
gujaf-42	95	9	nigerian	nigerian	ADJ
gujaf-42	95	10	stock	stock	NOUN
gujaf-42	95	11	exchange	exchange	PROPN
gujaf-42	95	12	as	as	ADP
gujaf-42	95	13	at	at	ADP
gujaf-42	95	14	the	the	DET
gujaf-42	95	15	date	date	NOUN
gujaf-42	95	16	of	of	ADP
gujaf-42	95	17	data	datum	NOUN
gujaf-42	95	18	collection	collection	NOUN
gujaf-42	95	19	.	.	PUNCT
gujaf-42	96	1	the	the	DET
gujaf-42	96	2	adjusted	adjusted	ADJ
gujaf-42	96	3	population	population	NOUN
gujaf-42	96	4	is	be	AUX
gujaf-42	96	5	thirty	thirty	NUM
gujaf-42	96	6	-	-	PUNCT
gujaf-42	96	7	five	five	NUM
gujaf-42	96	8	(	(	PUNCT
gujaf-42	96	9	35	35	NUM
gujaf-42	96	10	)	)	PUNCT
gujaf-42	96	11	firms	firm	NOUN
gujaf-42	96	12	based	base	VERB
gujaf-42	96	13	on	on	ADP
gujaf-42	96	14	the	the	DET
gujaf-42	96	15	availability	availability	NOUN
gujaf-42	96	16	of	of	ADP
gujaf-42	96	17	data	datum	NOUN
gujaf-42	96	18	.	.	PUNCT
gujaf-42	97	1	the	the	DET
gujaf-42	97	2	annual	annual	ADJ
gujaf-42	97	3	report	report	NOUN
gujaf-42	97	4	is	be	AUX
gujaf-42	97	5	the	the	DET
gujaf-42	97	6	legitimate	legitimate	ADJ
gujaf-42	97	7	blueprint	blueprint	NOUN
gujaf-42	97	8	of	of	ADP
gujaf-42	97	9	any	any	DET
gujaf-42	97	10	external	external	ADJ
gujaf-42	97	11	and	and	CCONJ
gujaf-42	97	12	internal	internal	ADJ
gujaf-42	97	13	investor	investor	NOUN
gujaf-42	97	14	in	in	ADP
gujaf-42	97	15	gusau	gusau	ADJ
gujaf-42	97	16	journal	journal	NOUN
gujaf-42	97	17	of	of	ADP
gujaf-42	97	18	accounting	accounting	NOUN
gujaf-42	97	19	and	and	CCONJ
gujaf-42	97	20	finance	finance	NOUN
gujaf-42	97	21	,	,	PUNCT
gujaf-42	97	22	vol	vol	NOUN
gujaf-42	97	23	.	.	PUNCT
gujaf-42	98	1	i	i	PRON
gujaf-42	98	2	,	,	PUNCT
gujaf-42	98	3	issue	issue	NOUN
gujaf-42	98	4	2	2	NUM
gujaf-42	98	5	,	,	PUNCT
gujaf-42	98	6	october	october	PROPN
gujaf-42	98	7	,	,	PUNCT
gujaf-42	98	8	2020	2020	NUM
gujaf-42	98	9	7	7	NUM
gujaf-42	98	10	making	make	VERB
gujaf-42	98	11	decisions	decision	NOUN
gujaf-42	98	12	.	.	PUNCT
gujaf-42	99	1	hence	hence	ADV
gujaf-42	99	2	,	,	PUNCT
gujaf-42	99	3	this	this	DET
gujaf-42	99	4	report	report	NOUN
gujaf-42	99	5	was	be	AUX
gujaf-42	99	6	explored	explore	VERB
gujaf-42	99	7	to	to	PART
gujaf-42	99	8	extract	extract	VERB
gujaf-42	99	9	information	information	NOUN
gujaf-42	99	10	on	on	ADP
gujaf-42	99	11	the	the	DET
gujaf-42	99	12	explanatory	explanatory	ADJ
gujaf-42	99	13	construct	construct	NOUN
gujaf-42	99	14	(	(	PUNCT
gujaf-42	99	15	profitability	profitability	NOUN
gujaf-42	99	16	,	,	PUNCT
gujaf-42	99	17	leverage	leverage	NOUN
gujaf-42	99	18	,	,	PUNCT
gujaf-42	99	19	networking	networking	NOUN
gujaf-42	99	20	and	and	CCONJ
gujaf-42	99	21	capex	capex	NOUN
gujaf-42	99	22	)	)	PUNCT
gujaf-42	99	23	and	and	CCONJ
gujaf-42	99	24	the	the	DET
gujaf-42	99	25	explained	explain	VERB
gujaf-42	99	26	construct	construct	NOUN
gujaf-42	99	27	(	(	PUNCT
gujaf-42	99	28	corporate	corporate	ADJ
gujaf-42	99	29	cash	cash	NOUN
gujaf-42	99	30	holding	holding	NOUN
gujaf-42	99	31	)	)	PUNCT
gujaf-42	99	32	,	,	PUNCT
gujaf-42	99	33	respectively	respectively	ADV
gujaf-42	99	34	.	.	PUNCT
gujaf-42	100	1	spanning	span	VERB
gujaf-42	100	2	from	from	ADP
gujaf-42	100	3	2012	2012	NUM
gujaf-42	100	4	to	to	ADP
gujaf-42	100	5	2019	2019	NUM
gujaf-42	100	6	being	be	AUX
gujaf-42	100	7	eight	eight	NUM
gujaf-42	100	8	(	(	PUNCT
gujaf-42	100	9	8)	8)	NUM
gujaf-42	100	10	years	year	NOUN
gujaf-42	100	11	was	be	AUX
gujaf-42	100	12	duly	duly	ADV
gujaf-42	100	13	scrutinized	scrutinize	VERB
gujaf-42	100	14	under	under	ADP
gujaf-42	100	15	this	this	DET
gujaf-42	100	16	study	study	NOUN
gujaf-42	100	17	.	.	PUNCT
gujaf-42	101	1	a	a	DET
gujaf-42	101	2	technique	technique	NOUN
gujaf-42	101	3	of	of	ADP
gujaf-42	101	4	analysis	analysis	NOUN
gujaf-42	101	5	called	call	VERB
gujaf-42	101	6	multiple	multiple	ADJ
gujaf-42	101	7	regressions	regression	NOUN
gujaf-42	101	8	on	on	ADP
gujaf-42	101	9	the	the	DET
gujaf-42	101	10	panel	panel	NOUN
gujaf-42	101	11	data	datum	NOUN
gujaf-42	101	12	is	be	AUX
gujaf-42	101	13	utilized	utilize	VERB
gujaf-42	101	14	.	.	PUNCT
gujaf-42	102	1	this	this	PRON
gujaf-42	102	2	is	be	AUX
gujaf-42	102	3	due	due	ADJ
gujaf-42	102	4	to	to	ADP
gujaf-42	102	5	the	the	DET
gujaf-42	102	6	suitable	suitable	ADJ
gujaf-42	102	7	of	of	ADP
gujaf-42	102	8	this	this	DET
gujaf-42	102	9	method	method	NOUN
gujaf-42	102	10	for	for	ADP
gujaf-42	102	11	this	this	DET
gujaf-42	102	12	study	study	NOUN
gujaf-42	102	13	since	since	SCONJ
gujaf-42	102	14	the	the	DET
gujaf-42	102	15	issue	issue	NOUN
gujaf-42	102	16	of	of	ADP
gujaf-42	102	17	linearity	linearity	NOUN
gujaf-42	102	18	is	be	AUX
gujaf-42	102	19	fulfilled	fulfil	VERB
gujaf-42	102	20	.	.	PUNCT
gujaf-42	103	1	table	table	NOUN
gujaf-42	103	2	3.1	3.1	NUM
gujaf-42	103	3	variable	variable	ADJ
gujaf-42	103	4	measurement	measurement	NOUN
gujaf-42	103	5	variables	variable	NOUN
gujaf-42	103	6	type	type	NOUN
gujaf-42	103	7	measurement	measurement	NOUN
gujaf-42	103	8	source	source	NOUN
gujaf-42	103	9	corporate	corporate	ADJ
gujaf-42	103	10	cash	cash	NOUN
gujaf-42	103	11	holding	hold	VERB
gujaf-42	103	12	dv	dv	PROPN
gujaf-42	103	13	it	it	PRON
gujaf-42	103	14	is	be	AUX
gujaf-42	103	15	quotients	quotient	NOUN
gujaf-42	103	16	of	of	ADP
gujaf-42	103	17	cash	cash	NOUN
gujaf-42	103	18	and	and	CCONJ
gujaf-42	103	19	cash	cash	NOUN
gujaf-42	103	20	equivalents	equivalent	NOUN
gujaf-42	103	21	to	to	ADP
gujaf-42	103	22	book	book	NOUN
gujaf-42	103	23	value	value	NOUN
gujaf-42	103	24	of	of	ADP
gujaf-42	103	25	assets	asset	NOUN
gujaf-42	103	26	less	less	ADJ
gujaf-42	103	27	cash	cash	NOUN
gujaf-42	103	28	and	and	CCONJ
gujaf-42	103	29	equivalents	equivalent	NOUN
gujaf-42	103	30	.	.	PUNCT
gujaf-42	104	1	(	(	PUNCT
gujaf-42	104	2	lawrencia	lawrencia	NOUN
gujaf-42	104	3	et	et	PROPN
gujaf-42	104	4	al	al	PROPN
gujaf-42	104	5	.	.	PROPN
gujaf-42	104	6	,	,	PUNCT
gujaf-42	104	7	2012	2012	NUM
gujaf-42	104	8	)	)	PUNCT
gujaf-42	104	9	profitability	profitability	NOUN
gujaf-42	104	10	iv	iv	NUM
gujaf-42	104	11	net	net	ADJ
gujaf-42	104	12	income	income	NOUN
gujaf-42	104	13	/	/	SYM
gujaf-42	104	14	total	total	ADJ
gujaf-42	104	15	assets	asset	NOUN
gujaf-42	104	16	(	(	PUNCT
gujaf-42	104	17	chukwuebuka	chukwuebuka	NOUN
gujaf-42	104	18	&	&	CCONJ
gujaf-42	104	19	grace	grace	NOUN
gujaf-42	104	20	,	,	PUNCT
gujaf-42	104	21	2019	2019	NUM
gujaf-42	104	22	)	)	PUNCT
gujaf-42	104	23	leverage	leverage	NOUN
gujaf-42	104	24	iv	iv	NUM
gujaf-42	104	25	the	the	DET
gujaf-42	104	26	sum	sum	NOUN
gujaf-42	104	27	of	of	ADP
gujaf-42	104	28	long	long	ADJ
gujaf-42	104	29	-	-	PUNCT
gujaf-42	104	30	term	term	NOUN
gujaf-42	104	31	debt	debt	NOUN
gujaf-42	104	32	and	and	CCONJ
gujaf-42	104	33	debt	debt	NOUN
gujaf-42	104	34	in	in	ADP
gujaf-42	104	35	current	current	ADJ
gujaf-42	104	36	liabilities	liability	NOUN
gujaf-42	104	37	divided	divide	VERB
gujaf-42	104	38	by	by	ADP
gujaf-42	104	39	the	the	DET
gujaf-42	104	40	book	book	NOUN
gujaf-42	104	41	value	value	NOUN
gujaf-42	104	42	of	of	ADP
gujaf-42	104	43	total	total	ADJ
gujaf-42	104	44	assets	asset	NOUN
gujaf-42	104	45	(	(	PUNCT
gujaf-42	104	46	barasa	barasa	PROPN
gujaf-42	104	47	et	et	PROPN
gujaf-42	104	48	al	al	PROPN
gujaf-42	104	49	.	.	PROPN
gujaf-42	104	50	,	,	PUNCT
gujaf-42	104	51	2018	2018	NUM
gujaf-42	104	52	)	)	PUNCT
gujaf-42	104	53	net	net	ADJ
gujaf-42	104	54	working	work	VERB
gujaf-42	104	55	capital	capital	NOUN
gujaf-42	104	56	iv	iv	PART
gujaf-42	104	57	net	net	ADJ
gujaf-42	104	58	working	work	VERB
gujaf-42	104	59	capital	capital	NOUN
gujaf-42	104	60	-	-	PUNCT
gujaf-42	104	61	to	to	ADP
gujaf-42	104	62	-	-	PUNCT
gujaf-42	104	63	assets	asset	NOUN
gujaf-42	104	64	ratio	ratio	NOUN
gujaf-42	104	65	of	of	ADP
gujaf-42	104	66	net	net	ADJ
gujaf-42	104	67	current	current	ADJ
gujaf-42	104	68	assets	asset	NOUN
gujaf-42	104	69	less	less	ADJ
gujaf-42	104	70	cash	cash	NOUN
gujaf-42	104	71	and	and	CCONJ
gujaf-42	104	72	cash	cash	NOUN
gujaf-42	104	73	equivalents	equivalent	NOUN
gujaf-42	104	74	to	to	ADP
gujaf-42	104	75	total	total	VERB
gujaf-42	104	76	assets	asset	NOUN
gujaf-42	104	77	less	less	ADJ
gujaf-42	104	78	cash	cash	NOUN
gujaf-42	104	79	and	and	CCONJ
gujaf-42	104	80	equivalents	equivalent	NOUN
gujaf-42	104	81	.	.	PUNCT
gujaf-42	105	1	(	(	PUNCT
gujaf-42	105	2	lawrencia	lawrencia	NOUN
gujaf-42	105	3	et	et	PROPN
gujaf-42	105	4	al	al	PROPN
gujaf-42	105	5	.	.	PROPN
gujaf-42	105	6	,	,	PUNCT
gujaf-42	105	7	2012	2012	NUM
gujaf-42	105	8	)	)	PUNCT
gujaf-42	105	9	capex	capex	NOUN
gujaf-42	105	10	iv	iv	NUM
gujaf-42	105	11	capital	capital	NOUN
gujaf-42	105	12	expenditures	expenditure	NOUN
gujaf-42	105	13	/	/	SYM
gujaf-42	105	14	total	total	ADJ
gujaf-42	105	15	assets	asset	NOUN
gujaf-42	105	16	(	(	PUNCT
gujaf-42	105	17	magerakis	mageraki	NOUN
gujaf-42	105	18	et	et	PROPN
gujaf-42	105	19	al	al	PROPN
gujaf-42	105	20	.	.	PROPN
gujaf-42	105	21	,	,	PUNCT
gujaf-42	105	22	2015	2015	NUM
gujaf-42	105	23	)	)	PUNCT
gujaf-42	105	24	source	source	NOUN
gujaf-42	105	25	:	:	PUNCT
gujaf-42	105	26	author	author	PROPN
gujaf-42	105	27	’s	’s	PART
gujaf-42	105	28	computation	computation	NOUN
gujaf-42	105	29	model	model	NOUN
gujaf-42	105	30	specification	specification	NOUN
gujaf-42	105	31	the	the	DET
gujaf-42	105	32	model	model	NOUN
gujaf-42	105	33	is	be	AUX
gujaf-42	105	34	stated	state	VERB
gujaf-42	105	35	below	below	ADV
gujaf-42	105	36	:	:	PUNCT
gujaf-42	105	37	thus	thus	ADV
gujaf-42	105	38	,	,	PUNCT
gujaf-42	105	39	the	the	DET
gujaf-42	105	40	regression	regression	NOUN
gujaf-42	105	41	could	could	AUX
gujaf-42	105	42	be	be	AUX
gujaf-42	105	43	presented	present	VERB
gujaf-42	105	44	in	in	ADP
gujaf-42	105	45	general	general	ADJ
gujaf-42	105	46	as	as	SCONJ
gujaf-42	105	47	follows	follow	VERB
gujaf-42	105	48	;	;	PUNCT
gujaf-42	105	49	yit	yit	PROPN
gujaf-42	105	50	=	=	SYM
gujaf-42	105	51	β0	β0	PROPN
gujaf-42	106	1	+	+	CCONJ
gujaf-42	106	2	β1x1it	β1x1it	PUNCT
gujaf-42	107	1	+	+	CCONJ
gujaf-42	107	2	β2x2it	β2x2it	PUNCT
gujaf-42	108	1	+	+	CCONJ
gujaf-42	108	2	βk	βk	ADV
gujaf-42	108	3	xkit+	xkit+	X
gujaf-42	108	4	eit	eit	PROPN
gujaf-42	108	5	…	…	PUNCT
gujaf-42	108	6	…	…	PUNCT
gujaf-42	108	7	…	…	PUNCT
gujaf-42	108	8	…	…	PUNCT
gujaf-42	108	9	…	…	PUNCT
gujaf-42	108	10	…	…	PUNCT
gujaf-42	108	11	…	…	PUNCT
gujaf-42	108	12	…	…	PUNCT
gujaf-42	108	13	…	…	PUNCT
gujaf-42	108	14	…	…	PUNCT
gujaf-42	108	15	…	…	PUNCT
gujaf-42	108	16	…	…	PUNCT
gujaf-42	108	17	…	…	PUNCT
gujaf-42	108	18	…	…	PUNCT
gujaf-42	108	19	…	…	PUNCT
gujaf-42	108	20	equation	equation	NOUN
gujaf-42	108	21	.	.	PUNCT
gujaf-42	109	1	1	1	NUM
gujaf-42	109	2	where	where	SCONJ
gujaf-42	109	3	;	;	PUNCT
gujaf-42	109	4	gusau	gusau	ADJ
gujaf-42	109	5	journal	journal	NOUN
gujaf-42	109	6	of	of	ADP
gujaf-42	109	7	accounting	accounting	NOUN
gujaf-42	109	8	and	and	CCONJ
gujaf-42	109	9	finance	finance	NOUN
gujaf-42	109	10	,	,	PUNCT
gujaf-42	109	11	vol	vol	NOUN
gujaf-42	109	12	.	.	PUNCT
gujaf-42	110	1	i	i	PRON
gujaf-42	110	2	,	,	PUNCT
gujaf-42	110	3	issue	issue	NOUN
gujaf-42	110	4	2	2	NUM
gujaf-42	110	5	,	,	PUNCT
gujaf-42	110	6	october	october	PROPN
gujaf-42	110	7	,	,	PUNCT
gujaf-42	110	8	2020	2020	NUM
gujaf-42	110	9	8	8	NUM
gujaf-42	110	10	yi	yi	NOUN
gujaf-42	110	11	is	be	AUX
gujaf-42	110	12	the	the	DET
gujaf-42	110	13	dependent	dependent	ADJ
gujaf-42	110	14	variable	variable	NOUN
gujaf-42	110	15	;	;	PUNCT
gujaf-42	110	16	β0is	β0is	PUNCT
gujaf-42	110	17	constant	constant	ADJ
gujaf-42	110	18	of	of	ADP
gujaf-42	110	19	the	the	DET
gujaf-42	110	20	model	model	NOUN
gujaf-42	110	21	when	when	SCONJ
gujaf-42	110	22	all	all	DET
gujaf-42	110	23	independent	independent	ADJ
gujaf-42	110	24	variables	variable	NOUN
gujaf-42	110	25	are	be	AUX
gujaf-42	110	26	said	say	VERB
gujaf-42	110	27	to	to	PART
gujaf-42	110	28	be	be	AUX
gujaf-42	110	29	zeros	zero	NOUN
gujaf-42	110	30	.	.	PUNCT
gujaf-42	111	1	x1i	x1i	PROPN
gujaf-42	111	2	,	,	PUNCT
gujaf-42	111	3	x2i	x2i	PROPN
gujaf-42	111	4	and	and	CCONJ
gujaf-42	111	5	xki	xki	PROPN
gujaf-42	111	6	are	be	AUX
gujaf-42	111	7	the	the	DET
gujaf-42	111	8	independent	independent	ADJ
gujaf-42	111	9	variables	variable	NOUN
gujaf-42	111	10	of	of	ADP
gujaf-42	111	11	the	the	DET
gujaf-42	111	12	model	model	NOUN
gujaf-42	111	13	and	and	CCONJ
gujaf-42	111	14	“	"	PUNCT
gujaf-42	111	15	i	i	PRON
gujaf-42	111	16	”	"	PUNCT
gujaf-42	111	17	is	be	AUX
gujaf-42	111	18	individual	individual	ADJ
gujaf-42	111	19	company	company	NOUN
gujaf-42	111	20	for	for	ADP
gujaf-42	111	21	the	the	DET
gujaf-42	111	22	estimation	estimation	NOUN
gujaf-42	111	23	and	and	CCONJ
gujaf-42	111	24	finally	finally	ADV
gujaf-42	111	25	ei	ei	VERB
gujaf-42	111	26	is	be	AUX
gujaf-42	111	27	residuals	residual	NOUN
gujaf-42	111	28	of	of	ADP
gujaf-42	111	29	the	the	DET
gujaf-42	111	30	model	model	NOUN
gujaf-42	111	31	.	.	PUNCT
gujaf-42	112	1	therefore	therefore	ADV
gujaf-42	112	2	,	,	PUNCT
gujaf-42	112	3	the	the	DET
gujaf-42	112	4	model	model	NOUN
gujaf-42	112	5	of	of	ADP
gujaf-42	112	6	the	the	DET
gujaf-42	112	7	study	study	NOUN
gujaf-42	112	8	is	be	AUX
gujaf-42	112	9	expressed	express	VERB
gujaf-42	112	10	below	below	ADV
gujaf-42	112	11	;	;	PUNCT
gujaf-42	113	1	cch	cch	X
gujaf-42	113	2	=	=	PUNCT
gujaf-42	113	3	β	β	X
gujaf-42	113	4	0	0	NUM
gujaf-42	114	1	+	+	CCONJ
gujaf-42	114	2	β1profi+	β1profi+	PROPN
gujaf-42	114	3	β2lev	β2lev	VERB
gujaf-42	115	1	+	+	NUM
gujaf-42	115	2	β3ntwc	β3ntwc	X
gujaf-42	115	3	+	+	CCONJ
gujaf-42	115	4	β4	β4	PROPN
gujaf-42	115	5	capex	capex	NOUN
gujaf-42	115	6	+	+	PROPN
gujaf-42	115	7	εit………….equation	εit………….equation	NOUN
gujaf-42	115	8	2	2	NUM
gujaf-42	115	9	where	where	SCONJ
gujaf-42	115	10	;	;	PUNCT
gujaf-42	115	11	cch=	cch=	NUM
gujaf-42	115	12	corporate	corporate	ADJ
gujaf-42	115	13	cash	cash	NOUN
gujaf-42	115	14	holding	hold	VERB
gujaf-42	115	15	prof	prof	NOUN
gujaf-42	115	16	=	=	NOUN
gujaf-42	115	17	profitability	profitability	NOUN
gujaf-42	115	18	lev	lev	NOUN
gujaf-42	115	19	=	=	PUNCT
gujaf-42	115	20	leverage	leverage	NOUN
gujaf-42	115	21	ntwc	ntwc	NOUN
gujaf-42	115	22	=	=	SYM
gujaf-42	115	23	networking	network	VERB
gujaf-42	115	24	capital	capital	NOUN
gujaf-42	115	25	capex	capex	NOUN
gujaf-42	115	26	=	=	SYM
gujaf-42	115	27	capital	capital	NOUN
gujaf-42	115	28	expenditure	expenditure	NOUN
gujaf-42	115	29	ß0=	ß0=	PROPN
gujaf-42	115	30	intercept	intercept	PROPN
gujaf-42	115	31	;	;	PUNCT
gujaf-42	115	32	ß1	ß1	NOUN
gujaf-42	115	33	to	to	ADP
gujaf-42	115	34	ß4	ß4	NOUN
gujaf-42	115	35	=	=	NOUN
gujaf-42	115	36	coefficient	coefficient	NOUN
gujaf-42	115	37	of	of	ADP
gujaf-42	115	38	the	the	DET
gujaf-42	115	39	independent	independent	ADJ
gujaf-42	115	40	variables	variable	NOUN
gujaf-42	115	41	;	;	PUNCT
gujaf-42	115	42	ß5	ß5	NUM
gujaf-42	115	43	=	=	NOUN
gujaf-42	115	44	coefficient	coefficient	NOUN
gujaf-42	115	45	of	of	ADP
gujaf-42	115	46	the	the	DET
gujaf-42	115	47	control	control	NOUN
gujaf-42	115	48	variable	variable	NOUN
gujaf-42	115	49	;	;	PUNCT
gujaf-42	115	50	є	є	NOUN
gujaf-42	115	51	=	=	NOUN
gujaf-42	115	52	error	error	NOUN
gujaf-42	115	53	term	term	NOUN
gujaf-42	115	54	;	;	PUNCT
gujaf-42	115	55	it=	it=	VERB
gujaf-42	115	56	subscript	subscript	NOUN
gujaf-42	115	57	for	for	ADP
gujaf-42	115	58	panel	panel	NOUN
gujaf-42	115	59	data	datum	NOUN
gujaf-42	115	60	4	4	NUM
gujaf-42	115	61	.	.	PUNCT
gujaf-42	115	62	data	datum	NOUN
gujaf-42	115	63	presentation	presentation	NOUN
gujaf-42	115	64	and	and	CCONJ
gujaf-42	115	65	discussion	discussion	NOUN
gujaf-42	115	66	in	in	ADP
gujaf-42	115	67	this	this	DET
gujaf-42	115	68	section	section	NOUN
gujaf-42	115	69	,	,	PUNCT
gujaf-42	115	70	data	datum	NOUN
gujaf-42	115	71	collected	collect	VERB
gujaf-42	115	72	in	in	ADP
gujaf-42	115	73	the	the	DET
gujaf-42	115	74	course	course	NOUN
gujaf-42	115	75	of	of	ADP
gujaf-42	115	76	carrying	carry	VERB
gujaf-42	115	77	out	out	ADP
gujaf-42	115	78	the	the	DET
gujaf-42	115	79	study	study	NOUN
gujaf-42	115	80	were	be	AUX
gujaf-42	115	81	presented	present	VERB
gujaf-42	115	82	and	and	CCONJ
gujaf-42	115	83	discussed	discuss	VERB
gujaf-42	115	84	.	.	PUNCT
gujaf-42	116	1	this	this	DET
gujaf-42	116	2	section	section	NOUN
gujaf-42	116	3	presents	present	VERB
gujaf-42	116	4	the	the	DET
gujaf-42	116	5	descriptive	descriptive	ADJ
gujaf-42	116	6	statistics	statistic	NOUN
gujaf-42	116	7	,	,	PUNCT
gujaf-42	116	8	correlation	correlation	NOUN
gujaf-42	116	9	matrix	matrix	NOUN
gujaf-42	116	10	and	and	CCONJ
gujaf-42	116	11	the	the	DET
gujaf-42	116	12	inferential	inferential	ADJ
gujaf-42	116	13	statistics	statistic	NOUN
gujaf-42	116	14	.	.	PUNCT
gujaf-42	117	1	the	the	DET
gujaf-42	117	2	hypothesis	hypothesis	NOUN
gujaf-42	117	3	formulates	formulate	VERB
gujaf-42	117	4	for	for	SCONJ
gujaf-42	117	5	the	the	DET
gujaf-42	117	6	study	study	NOUN
gujaf-42	117	7	was	be	AUX
gujaf-42	117	8	tested	test	VERB
gujaf-42	117	9	to	to	PART
gujaf-42	117	10	institute	institute	VERB
gujaf-42	117	11	the	the	DET
gujaf-42	117	12	effect	effect	NOUN
gujaf-42	117	13	of	of	ADP
gujaf-42	117	14	firm	firm	ADJ
gujaf-42	117	15	-	-	PUNCT
gujaf-42	117	16	specific	specific	ADJ
gujaf-42	117	17	characteristics	characteristic	NOUN
gujaf-42	117	18	on	on	ADP
gujaf-42	117	19	corporate	corporate	ADJ
gujaf-42	117	20	cash	cash	NOUN
gujaf-42	117	21	holding	holding	NOUN
gujaf-42	117	22	.	.	PUNCT
gujaf-42	118	1	table	table	NOUN
gujaf-42	118	2	4.1	4.1	NUM
gujaf-42	118	3	descriptive	descriptive	ADJ
gujaf-42	118	4	statistics	statistic	NOUN
gujaf-42	118	5	variables	variable	NOUN
gujaf-42	118	6	obs	obs	PROPN
gujaf-42	118	7	mean	mean	VERB
gujaf-42	118	8	std	std	PROPN
gujaf-42	118	9	.	.	PROPN
gujaf-42	119	1	dev	dev	PROPN
gujaf-42	119	2	.	.	PUNCT
gujaf-42	120	1	min	min	PROPN
gujaf-42	120	2	max	max	PROPN
gujaf-42	120	3	cch	cch	PROPN
gujaf-42	120	4	280	280	NUM
gujaf-42	120	5	0.0532	0.0532	NUM
gujaf-42	120	6	0.2186	0.2186	NUM
gujaf-42	120	7	0.0034	0.0034	NUM
gujaf-42	120	8	0.0809	0.0809	NUM
gujaf-42	120	9	prof	prof	NOUN
gujaf-42	120	10	280	280	NUM
gujaf-42	120	11	0.140	0.140	NUM
gujaf-42	120	12	0.034	0.034	NUM
gujaf-42	120	13	-0.102	-0.102	NUM
gujaf-42	120	14	0.218	0.218	NUM
gujaf-42	120	15	lev	lev	NOUN
gujaf-42	120	16	280	280	NUM
gujaf-42	120	17	0.3571	0.3571	NUM
gujaf-42	120	18	0.4264	0.4264	NUM
gujaf-42	120	19	0.1653	0.1653	NUM
gujaf-42	120	20	0.8241	0.8241	NUM
gujaf-42	120	21	ntwc	ntwc	PRON
gujaf-42	120	22	280	280	NUM
gujaf-42	120	23	0.0264	0.0264	NUM
gujaf-42	120	24	0.0174	0.0174	NUM
gujaf-42	120	25	0.0322	0.0322	NUM
gujaf-42	120	26	0.4126	0.4126	NUM
gujaf-42	120	27	capex	capex	NOUN
gujaf-42	120	28	280	280	NUM
gujaf-42	120	29	0.0313	0.0313	NUM
gujaf-42	120	30	0.0342	0.0342	NUM
gujaf-42	120	31	0.0000	0.0000	NUM
gujaf-42	120	32	0.6324	0.6324	NUM
gujaf-42	120	33	source	source	NOUN
gujaf-42	120	34	:	:	PUNCT
gujaf-42	120	35	summary	summary	NOUN
gujaf-42	120	36	of	of	ADP
gujaf-42	120	37	stata	stata	PROPN
gujaf-42	120	38	output	output	PROPN
gujaf-42	120	39	gusau	gusau	PROPN
gujaf-42	120	40	journal	journal	PROPN
gujaf-42	120	41	of	of	ADP
gujaf-42	120	42	accounting	accounting	NOUN
gujaf-42	120	43	and	and	CCONJ
gujaf-42	120	44	finance	finance	NOUN
gujaf-42	120	45	,	,	PUNCT
gujaf-42	120	46	vol	vol	NOUN
gujaf-42	120	47	.	.	PUNCT
gujaf-42	121	1	i	i	PRON
gujaf-42	121	2	,	,	PUNCT
gujaf-42	121	3	issue	issue	NOUN
gujaf-42	121	4	2	2	NUM
gujaf-42	121	5	,	,	PUNCT
gujaf-42	121	6	october	october	PROPN
gujaf-42	121	7	,	,	PUNCT
gujaf-42	121	8	2020	2020	NUM
gujaf-42	121	9	9	9	NUM
gujaf-42	121	10	table	table	NOUN
gujaf-42	121	11	4.1	4.1	NUM
gujaf-42	121	12	presented	present	VERB
gujaf-42	121	13	the	the	DET
gujaf-42	121	14	analysis	analysis	NOUN
gujaf-42	121	15	of	of	ADP
gujaf-42	121	16	both	both	CCONJ
gujaf-42	121	17	explanatory	explanatory	ADJ
gujaf-42	121	18	and	and	CCONJ
gujaf-42	121	19	explained	explain	VERB
gujaf-42	121	20	variables	variable	NOUN
gujaf-42	121	21	using	use	VERB
gujaf-42	121	22	a	a	DET
gujaf-42	121	23	descriptive	descriptive	ADJ
gujaf-42	121	24	statistics	statistic	NOUN
gujaf-42	121	25	method	method	NOUN
gujaf-42	121	26	of	of	ADP
gujaf-42	121	27	data	datum	NOUN
gujaf-42	121	28	analysis	analysis	NOUN
gujaf-42	121	29	.	.	PUNCT
gujaf-42	122	1	it	it	PRON
gujaf-42	122	2	indicated	indicate	VERB
gujaf-42	122	3	that	that	SCONJ
gujaf-42	122	4	average	average	NOUN
gujaf-42	122	5	of	of	ADP
gujaf-42	122	6	corporate	corporate	ADJ
gujaf-42	122	7	cash	cash	NOUN
gujaf-42	122	8	holding	holding	NOUN
gujaf-42	122	9	(	(	PUNCT
gujaf-42	122	10	cch	cch	NOUN
gujaf-42	122	11	)	)	PUNCT
gujaf-42	122	12	of	of	ADP
gujaf-42	122	13	the	the	DET
gujaf-42	122	14	sampled	sample	VERB
gujaf-42	122	15	manufacturing	manufacturing	NOUN
gujaf-42	122	16	firms	firm	NOUN
gujaf-42	122	17	is	be	AUX
gujaf-42	122	18	0.0532	0.0532	NUM
gujaf-42	122	19	approximately	approximately	ADV
gujaf-42	122	20	having	have	VERB
gujaf-42	122	21	maximum	maximum	NOUN
gujaf-42	122	22	and	and	CCONJ
gujaf-42	122	23	a	a	DET
gujaf-42	122	24	corresponding	corresponding	ADJ
gujaf-42	122	25	minimum	minimum	NOUN
gujaf-42	122	26	of	of	ADP
gujaf-42	122	27	0.0034	0.0034	NUM
gujaf-42	122	28	and	and	CCONJ
gujaf-42	122	29	0.0809	0.0809	NUM
gujaf-42	122	30	respectively	respectively	ADV
gujaf-42	122	31	.	.	PUNCT
gujaf-42	123	1	the	the	DET
gujaf-42	123	2	result	result	NOUN
gujaf-42	123	3	shows	show	VERB
gujaf-42	123	4	the	the	DET
gujaf-42	123	5	average	average	ADJ
gujaf-42	123	6	indicators	indicator	NOUN
gujaf-42	123	7	of	of	ADP
gujaf-42	123	8	variables	variable	NOUN
gujaf-42	123	9	computed	compute	VERB
gujaf-42	123	10	from	from	ADP
gujaf-42	123	11	the	the	DET
gujaf-42	123	12	financial	financial	ADJ
gujaf-42	123	13	statements	statement	NOUN
gujaf-42	123	14	.	.	PUNCT
gujaf-42	124	1	the	the	DET
gujaf-42	124	2	return	return	NOUN
gujaf-42	124	3	rate	rate	NOUN
gujaf-42	124	4	measured	measure	VERB
gujaf-42	124	5	by	by	ADP
gujaf-42	124	6	return	return	NOUN
gujaf-42	124	7	on	on	ADP
gujaf-42	124	8	asset	asset	NOUN
gujaf-42	124	9	(	(	PUNCT
gujaf-42	124	10	roa	roa	NOUN
gujaf-42	124	11	)	)	PUNCT
gujaf-42	124	12	reveals	reveal	VERB
gujaf-42	124	13	an	an	DET
gujaf-42	124	14	average	average	NOUN
gujaf-42	124	15	of	of	ADP
gujaf-42	124	16	1.4percent	1.4percent	NUM
gujaf-42	124	17	.	.	PUNCT
gujaf-42	125	1	this	this	DET
gujaf-42	125	2	picture	picture	NOUN
gujaf-42	125	3	suggests	suggest	VERB
gujaf-42	125	4	a	a	DET
gujaf-42	125	5	poor	poor	ADJ
gujaf-42	125	6	performance	performance	NOUN
gujaf-42	125	7	during	during	ADP
gujaf-42	125	8	the	the	DET
gujaf-42	125	9	period	period	NOUN
gujaf-42	125	10	under	under	ADP
gujaf-42	125	11	study	study	NOUN
gujaf-42	125	12	.	.	PUNCT
gujaf-42	126	1	the	the	DET
gujaf-42	126	2	roa	roa	NOUN
gujaf-42	126	3	measures	measure	VERB
gujaf-42	126	4	the	the	DET
gujaf-42	126	5	contribution	contribution	NOUN
gujaf-42	126	6	of	of	ADP
gujaf-42	126	7	net	net	ADJ
gujaf-42	126	8	income	income	NOUN
gujaf-42	126	9	per	per	ADP
gujaf-42	126	10	naira	naira	PROPN
gujaf-42	126	11	(	(	PUNCT
gujaf-42	126	12	local	local	ADJ
gujaf-42	126	13	currency	currency	NOUN
gujaf-42	126	14	)	)	PUNCT
gujaf-42	126	15	invested	invest	VERB
gujaf-42	126	16	by	by	ADP
gujaf-42	126	17	the	the	DET
gujaf-42	126	18	firms	firm	NOUN
gujaf-42	126	19	’	’	PART
gujaf-42	126	20	stockholders	stockholder	NOUN
gujaf-42	126	21	;	;	PUNCT
gujaf-42	126	22	a	a	DET
gujaf-42	126	23	measure	measure	NOUN
gujaf-42	126	24	of	of	ADP
gujaf-42	126	25	the	the	DET
gujaf-42	126	26	efficiency	efficiency	NOUN
gujaf-42	126	27	of	of	ADP
gujaf-42	126	28	the	the	DET
gujaf-42	126	29	owners	owner	NOUN
gujaf-42	126	30	’	'	PUNCT
gujaf-42	126	31	invested	invest	VERB
gujaf-42	126	32	capital	capital	NOUN
gujaf-42	126	33	.	.	PUNCT
gujaf-42	127	1	the	the	DET
gujaf-42	127	2	minimum	minimum	ADJ
gujaf-42	127	3	and	and	CCONJ
gujaf-42	127	4	maximum	maximum	ADJ
gujaf-42	127	5	values	value	NOUN
gujaf-42	127	6	of	of	ADP
gujaf-42	127	7	roa	roa	PROPN
gujaf-42	127	8	were	be	AUX
gujaf-42	127	9	-0.102	-0.102	PUNCT
gujaf-42	127	10	and	and	CCONJ
gujaf-42	127	11	0.218	0.218	NUM
gujaf-42	127	12	respectively	respectively	ADV
gujaf-42	127	13	.	.	PUNCT
gujaf-42	128	1	that	that	PRON
gujaf-42	128	2	means	mean	VERB
gujaf-42	128	3	the	the	DET
gujaf-42	128	4	most	most	ADV
gujaf-42	128	5	profitable	profitable	ADJ
gujaf-42	128	6	manufacturing	manufacturing	NOUN
gujaf-42	128	7	firms	firm	NOUN
gujaf-42	128	8	earned	earn	VERB
gujaf-42	128	9	n0.22	n0.22	PROPN
gujaf-42	128	10	of	of	ADP
gujaf-42	128	11	net	net	ADJ
gujaf-42	128	12	income	income	NOUN
gujaf-42	128	13	from	from	ADP
gujaf-42	128	14	a	a	DET
gujaf-42	128	15	single	single	ADJ
gujaf-42	128	16	n1	n1	NOUN
gujaf-42	128	17	of	of	ADP
gujaf-42	128	18	asset	asset	NOUN
gujaf-42	128	19	investment	investment	NOUN
gujaf-42	128	20	and	and	CCONJ
gujaf-42	128	21	the	the	DET
gujaf-42	128	22	maximum	maximum	ADJ
gujaf-42	128	23	losses	loss	NOUN
gujaf-42	128	24	incurred	incur	VERB
gujaf-42	128	25	by	by	ADP
gujaf-42	128	26	the	the	DET
gujaf-42	128	27	manufacturing	manufacturing	NOUN
gujaf-42	128	28	firms	firm	NOUN
gujaf-42	128	29	is	be	AUX
gujaf-42	128	30	-n0.102	-n0.102	PRON
gujaf-42	128	31	on	on	ADP
gujaf-42	128	32	each	each	DET
gujaf-42	128	33	n1	n1	NOUN
gujaf-42	128	34	of	of	ADP
gujaf-42	128	35	asset	asset	NOUN
gujaf-42	128	36	investment	investment	NOUN
gujaf-42	128	37	.	.	PUNCT
gujaf-42	129	1	the	the	DET
gujaf-42	129	2	standard	standard	ADJ
gujaf-42	129	3	deviation	deviation	NOUN
gujaf-42	129	4	of	of	ADP
gujaf-42	129	5	roa	roa	NOUN
gujaf-42	129	6	of	of	ADP
gujaf-42	129	7	0.034	0.034	NUM
gujaf-42	129	8	shows	show	VERB
gujaf-42	129	9	low	low	ADJ
gujaf-42	129	10	variability	variability	NOUN
gujaf-42	129	11	across	across	ADP
gujaf-42	129	12	insurance	insurance	NOUN
gujaf-42	129	13	firms	firm	NOUN
gujaf-42	129	14	.	.	PUNCT
gujaf-42	130	1	this	this	DET
gujaf-42	130	2	result	result	NOUN
gujaf-42	130	3	shows	show	VERB
gujaf-42	130	4	that	that	SCONJ
gujaf-42	130	5	the	the	DET
gujaf-42	130	6	average	average	NOUN
gujaf-42	130	7	is	be	AUX
gujaf-42	130	8	far	far	ADV
gujaf-42	130	9	lower	low	ADJ
gujaf-42	130	10	than	than	ADP
gujaf-42	130	11	the	the	DET
gujaf-42	130	12	maximum	maximum	ADJ
gujaf-42	130	13	value	value	NOUN
gujaf-42	130	14	and	and	CCONJ
gujaf-42	130	15	minimum	minimum	NOUN
gujaf-42	130	16	value	value	NOUN
gujaf-42	130	17	implying	imply	VERB
gujaf-42	130	18	a	a	DET
gujaf-42	130	19	wide	wide	ADJ
gujaf-42	130	20	range	range	NOUN
gujaf-42	130	21	of	of	ADP
gujaf-42	130	22	variation	variation	NOUN
gujaf-42	130	23	domiciled	domicile	VERB
gujaf-42	130	24	in	in	ADP
gujaf-42	130	25	value	value	NOUN
gujaf-42	130	26	of	of	ADP
gujaf-42	130	27	firm	firm	ADJ
gujaf-42	130	28	size	size	NOUN
gujaf-42	130	29	among	among	ADP
gujaf-42	130	30	quoted	quote	VERB
gujaf-42	130	31	manufacturing	manufacturing	NOUN
gujaf-42	130	32	firms	firm	NOUN
gujaf-42	130	33	in	in	ADP
gujaf-42	130	34	nigeria	nigeria	PROPN
gujaf-42	130	35	.	.	PUNCT
gujaf-42	131	1	in	in	ADP
gujaf-42	131	2	addition	addition	NOUN
gujaf-42	131	3	,	,	PUNCT
gujaf-42	131	4	the	the	DET
gujaf-42	131	5	average	average	ADJ
gujaf-42	131	6	value	value	NOUN
gujaf-42	131	7	of	of	ADP
gujaf-42	131	8	leverage	leverage	NOUN
gujaf-42	131	9	(	(	PUNCT
gujaf-42	131	10	lev	lev	NOUN
gujaf-42	131	11	)	)	PUNCT
gujaf-42	131	12	of	of	ADP
gujaf-42	131	13	the	the	DET
gujaf-42	131	14	sampled	sample	VERB
gujaf-42	131	15	manufacturing	manufacturing	NOUN
gujaf-42	131	16	firms	firm	NOUN
gujaf-42	131	17	is	be	AUX
gujaf-42	131	18	0.3751	0.3751	NUM
gujaf-42	131	19	,	,	PUNCT
gujaf-42	131	20	with	with	ADP
gujaf-42	131	21	the	the	DET
gujaf-42	131	22	standard	standard	ADJ
gujaf-42	131	23	deviation	deviation	NOUN
gujaf-42	131	24	of	of	ADP
gujaf-42	131	25	0.4264	0.4264	NUM
gujaf-42	131	26	indicating	indicate	VERB
gujaf-42	131	27	high	high	ADJ
gujaf-42	131	28	variation	variation	NOUN
gujaf-42	131	29	across	across	ADP
gujaf-42	131	30	the	the	DET
gujaf-42	131	31	sampled	sample	VERB
gujaf-42	131	32	firms	firm	NOUN
gujaf-42	131	33	.	.	PUNCT
gujaf-42	132	1	the	the	DET
gujaf-42	132	2	minimum	minimum	ADJ
gujaf-42	132	3	and	and	CCONJ
gujaf-42	132	4	maximum	maximum	ADJ
gujaf-42	132	5	values	value	NOUN
gujaf-42	132	6	are	be	AUX
gujaf-42	132	7	0.1653	0.1653	NUM
gujaf-42	132	8	and	and	CCONJ
gujaf-42	132	9	0.8241	0.8241	NUM
gujaf-42	132	10	respectively	respectively	ADV
gujaf-42	132	11	.	.	PUNCT
gujaf-42	133	1	networking	network	VERB
gujaf-42	133	2	capital	capital	NOUN
gujaf-42	133	3	as	as	SCONJ
gujaf-42	133	4	measured	measure	VERB
gujaf-42	133	5	using	using	NOUN
gujaf-42	133	6	ratio	ratio	NOUN
gujaf-42	133	7	of	of	ADP
gujaf-42	133	8	net	net	ADJ
gujaf-42	133	9	current	current	ADJ
gujaf-42	133	10	assets	asset	NOUN
gujaf-42	133	11	less	less	ADJ
gujaf-42	133	12	cash	cash	NOUN
gujaf-42	133	13	and	and	CCONJ
gujaf-42	133	14	cash	cash	NOUN
gujaf-42	133	15	equivalents	equivalent	NOUN
gujaf-42	133	16	to	to	ADP
gujaf-42	133	17	total	total	VERB
gujaf-42	133	18	assets	asset	NOUN
gujaf-42	133	19	less	less	ADJ
gujaf-42	133	20	cash	cash	NOUN
gujaf-42	133	21	and	and	CCONJ
gujaf-42	133	22	has	have	AUX
gujaf-42	133	23	mean	mean	VERB
gujaf-42	133	24	value	value	NOUN
gujaf-42	133	25	of	of	ADP
gujaf-42	133	26	2.6	2.6	NUM
gujaf-42	133	27	%	%	NOUN
gujaf-42	133	28	with	with	ADP
gujaf-42	133	29	corresponding	correspond	VERB
gujaf-42	133	30	standard	standard	ADJ
gujaf-42	133	31	deviation	deviation	NOUN
gujaf-42	133	32	of	of	ADP
gujaf-42	133	33	1.74	1.74	NUM
gujaf-42	133	34	%	%	NOUN
gujaf-42	133	35	based	base	VERB
gujaf-42	133	36	on	on	ADP
gujaf-42	133	37	value	value	NOUN
gujaf-42	133	38	of	of	ADP
gujaf-42	133	39	standard	standard	ADJ
gujaf-42	133	40	deviation	deviation	NOUN
gujaf-42	133	41	,	,	PUNCT
gujaf-42	133	42	it	it	PRON
gujaf-42	133	43	can	can	AUX
gujaf-42	133	44	be	be	AUX
gujaf-42	133	45	deduced	deduce	VERB
gujaf-42	133	46	that	that	SCONJ
gujaf-42	133	47	the	the	DET
gujaf-42	133	48	networking	network	VERB
gujaf-42	133	49	capital	capital	NOUN
gujaf-42	133	50	is	be	AUX
gujaf-42	133	51	moderately	moderately	ADV
gujaf-42	133	52	clustered	cluster	VERB
gujaf-42	133	53	around	around	ADP
gujaf-42	133	54	the	the	DET
gujaf-42	133	55	mean	mean	NOUN
gujaf-42	133	56	of	of	ADP
gujaf-42	133	57	data	datum	NOUN
gujaf-42	133	58	under	under	ADP
gujaf-42	133	59	study	study	NOUN
gujaf-42	133	60	,	,	PUNCT
gujaf-42	133	61	invariably	invariably	ADV
gujaf-42	133	62	the	the	DET
gujaf-42	133	63	manufacturing	manufacture	VERB
gujaf-42	133	64	firm	firm	NOUN
gujaf-42	133	65	’s	’s	PART
gujaf-42	133	66	networking	network	VERB
gujaf-42	133	67	capital	capital	NOUN
gujaf-42	133	68	is	be	AUX
gujaf-42	133	69	different	different	ADJ
gujaf-42	133	70	from	from	ADP
gujaf-42	133	71	firm	firm	ADJ
gujaf-42	133	72	to	to	PART
gujaf-42	133	73	firm	firm	VERB
gujaf-42	133	74	.	.	PUNCT
gujaf-42	134	1	moreover	moreover	ADV
gujaf-42	134	2	,	,	PUNCT
gujaf-42	134	3	the	the	DET
gujaf-42	134	4	minimum	minimum	ADJ
gujaf-42	134	5	value	value	NOUN
gujaf-42	134	6	is	be	AUX
gujaf-42	134	7	3.22	3.22	NUM
gujaf-42	134	8	%	%	NOUN
gujaf-42	134	9	and	and	CCONJ
gujaf-42	134	10	41.26	41.26	NUM
gujaf-42	134	11	%	%	NOUN
gujaf-42	134	12	as	as	ADP
gujaf-42	134	13	maximum	maximum	ADJ
gujaf-42	134	14	value	value	NOUN
gujaf-42	134	15	thus	thus	ADV
gujaf-42	134	16	;	;	PUNCT
gujaf-42	134	17	it	it	PRON
gujaf-42	134	18	has	have	VERB
gujaf-42	134	19	a	a	DET
gujaf-42	134	20	large	large	ADJ
gujaf-42	134	21	range	range	NOUN
gujaf-42	134	22	of	of	ADP
gujaf-42	134	23	networking	network	VERB
gujaf-42	134	24	capital	capital	NOUN
gujaf-42	134	25	.	.	PUNCT
gujaf-42	135	1	the	the	DET
gujaf-42	135	2	minimum	minimum	ADJ
gujaf-42	135	3	and	and	CCONJ
gujaf-42	135	4	maximum	maximum	ADJ
gujaf-42	135	5	values	value	NOUN
gujaf-42	135	6	are	be	AUX
gujaf-42	135	7	0.0000	0.0000	NUM
gujaf-42	135	8	and	and	CCONJ
gujaf-42	135	9	0.4312	0.4312	NUM
gujaf-42	135	10	respectively	respectively	ADV
gujaf-42	135	11	.	.	PUNCT
gujaf-42	136	1	finally	finally	ADV
gujaf-42	136	2	,	,	PUNCT
gujaf-42	136	3	the	the	DET
gujaf-42	136	4	average	average	NOUN
gujaf-42	136	5	of	of	ADP
gujaf-42	136	6	capex	capex	NOUN
gujaf-42	136	7	among	among	ADP
gujaf-42	136	8	sampled	sample	VERB
gujaf-42	136	9	listed	list	VERB
gujaf-42	136	10	manufacturing	manufacturing	NOUN
gujaf-42	136	11	firms	firm	NOUN
gujaf-42	136	12	is	be	AUX
gujaf-42	136	13	0.0313	0.0313	NUM
gujaf-42	136	14	as	as	SCONJ
gujaf-42	136	15	the	the	DET
gujaf-42	136	16	standard	standard	ADJ
gujaf-42	136	17	deviation	deviation	NOUN
gujaf-42	136	18	of	of	ADP
gujaf-42	136	19	0.0342	0.0342	NUM
gujaf-42	136	20	indicates	indicate	VERB
gujaf-42	136	21	high	high	ADJ
gujaf-42	136	22	variation	variation	NOUN
gujaf-42	136	23	of	of	ADP
gujaf-42	136	24	across	across	ADP
gujaf-42	136	25	the	the	DET
gujaf-42	136	26	sampled	sample	VERB
gujaf-42	136	27	firms	firm	NOUN
gujaf-42	136	28	.	.	PUNCT
gujaf-42	137	1	the	the	DET
gujaf-42	137	2	minimum	minimum	ADJ
gujaf-42	137	3	and	and	CCONJ
gujaf-42	137	4	maximum	maximum	ADJ
gujaf-42	137	5	values	value	NOUN
gujaf-42	137	6	are	be	AUX
gujaf-42	137	7	0.0000	0.0000	NUM
gujaf-42	137	8	and	and	CCONJ
gujaf-42	137	9	0.6324	0.6324	NUM
gujaf-42	137	10	respectively	respectively	ADV
gujaf-42	137	11	.	.	PUNCT
gujaf-42	138	1	gusau	gusau	PROPN
gujaf-42	138	2	journal	journal	PROPN
gujaf-42	138	3	of	of	ADP
gujaf-42	138	4	accounting	accounting	NOUN
gujaf-42	138	5	and	and	CCONJ
gujaf-42	138	6	finance	finance	NOUN
gujaf-42	138	7	,	,	PUNCT
gujaf-42	138	8	vol	vol	NOUN
gujaf-42	138	9	.	.	PUNCT
gujaf-42	139	1	i	i	PRON
gujaf-42	139	2	,	,	PUNCT
gujaf-42	139	3	issue	issue	NOUN
gujaf-42	139	4	2	2	NUM
gujaf-42	139	5	,	,	PUNCT
gujaf-42	139	6	october	october	PROPN
gujaf-42	139	7	,	,	PUNCT
gujaf-42	139	8	2020	2020	NUM
gujaf-42	139	9	10	10	NUM
gujaf-42	139	10	table	table	NOUN
gujaf-42	139	11	4.2	4.2	NUM
gujaf-42	139	12	correlation	correlation	NOUN
gujaf-42	139	13	matrix	matrix	NOUN
gujaf-42	139	14	variables	variable	NOUN
gujaf-42	139	15	(	(	PUNCT
gujaf-42	139	16	1	1	NUM
gujaf-42	139	17	)	)	PUNCT
gujaf-42	139	18	(	(	PUNCT
gujaf-42	139	19	2	2	NUM
gujaf-42	139	20	)	)	PUNCT
gujaf-42	139	21	(	(	PUNCT
gujaf-42	139	22	3	3	X
gujaf-42	139	23	)	)	PUNCT
gujaf-42	139	24	(	(	PUNCT
gujaf-42	139	25	4	4	NUM
gujaf-42	139	26	)	)	PUNCT
gujaf-42	139	27	(	(	PUNCT
gujaf-42	139	28	5	5	NUM
gujaf-42	139	29	)	)	PUNCT
gujaf-42	139	30	(	(	PUNCT
gujaf-42	139	31	6	6	X
gujaf-42	139	32	)	)	PUNCT
gujaf-42	139	33	vif	vif	NOUN
gujaf-42	139	34	1	1	NUM
gujaf-42	139	35	/	/	SYM
gujaf-42	139	36	vif	vif	NOUN
gujaf-42	139	37	(	(	PUNCT
gujaf-42	139	38	1	1	NUM
gujaf-42	139	39	)	)	PUNCT
gujaf-42	139	40	cch	cch	NOUN
gujaf-42	139	41	1.000	1.000	NUM
gujaf-42	139	42	(	(	PUNCT
gujaf-42	139	43	2)prof	2)prof	NUM
gujaf-42	139	44	0.181	0.181	NUM
gujaf-42	139	45	1.000	1.000	NUM
gujaf-42	139	46	1.325	1.325	NUM
gujaf-42	139	47	.755	.755	NUM
gujaf-42	139	48	(	(	PUNCT
gujaf-42	139	49	4	4	X
gujaf-42	139	50	)	)	PUNCT
gujaf-42	139	51	lev	lev	NOUN
gujaf-42	139	52	-0.348	-0.348	PROPN
gujaf-42	139	53	0.103	0.103	NUM
gujaf-42	139	54	0.190	0.190	NUM
gujaf-42	139	55	1.000	1.000	NUM
gujaf-42	139	56	1.262	1.262	NUM
gujaf-42	139	57	.792	.792	NUM
gujaf-42	139	58	(	(	PUNCT
gujaf-42	139	59	5	5	NUM
gujaf-42	139	60	)	)	PUNCT
gujaf-42	139	61	ntwc	ntwc	NOUN
gujaf-42	139	62	0.460	0.460	NUM
gujaf-42	139	63	0.532	0.532	NUM
gujaf-42	139	64	0.421	0.421	NUM
gujaf-42	139	65	0.215	0.215	NUM
gujaf-42	139	66	1.000	1.000	NUM
gujaf-42	139	67	1.212	1.212	NUM
gujaf-42	139	68	.825	.825	NUM
gujaf-42	139	69	(	(	PUNCT
gujaf-42	139	70	6	6	NUM
gujaf-42	139	71	)	)	PUNCT
gujaf-42	139	72	capex	capex	NOUN
gujaf-42	139	73	-0.268	-0.268	PUNCT
gujaf-42	139	74	0.342	0.342	NUM
gujaf-42	139	75	0.221	0.221	NUM
gujaf-42	139	76	0.101	0.101	NUM
gujaf-42	139	77	0.223	0.223	NUM
gujaf-42	139	78	1.000	1.000	NUM
gujaf-42	139	79	1.202	1.202	NUM
gujaf-42	139	80	.832	.832	NUM
gujaf-42	139	81	mean	mean	PROPN
gujaf-42	139	82	1.26	1.26	NUM
gujaf-42	139	83	source	source	NOUN
gujaf-42	139	84	:	:	PUNCT
gujaf-42	139	85	summary	summary	NOUN
gujaf-42	139	86	of	of	ADP
gujaf-42	139	87	stata	stata	NOUN
gujaf-42	139	88	output	output	NOUN
gujaf-42	139	89	from	from	ADP
gujaf-42	139	90	the	the	DET
gujaf-42	139	91	correlation	correlation	NOUN
gujaf-42	139	92	matrix	matrix	NOUN
gujaf-42	139	93	presented	present	VERB
gujaf-42	139	94	in	in	ADP
gujaf-42	139	95	table	table	NOUN
gujaf-42	139	96	4.2	4.2	NUM
gujaf-42	139	97	,	,	PUNCT
gujaf-42	139	98	it	it	PRON
gujaf-42	139	99	is	be	AUX
gujaf-42	139	100	observed	observe	VERB
gujaf-42	139	101	that	that	SCONJ
gujaf-42	139	102	prof	prof	NOUN
gujaf-42	139	103	and	and	CCONJ
gujaf-42	139	104	ntwc	ntwc	NOUN
gujaf-42	139	105	have	have	VERB
gujaf-42	139	106	positive	positive	ADJ
gujaf-42	139	107	correlation	correlation	NOUN
gujaf-42	139	108	with	with	ADP
gujaf-42	139	109	cch	cch	PROPN
gujaf-42	139	110	of	of	ADP
gujaf-42	139	111	selected	select	VERB
gujaf-42	139	112	quoted	quote	VERB
gujaf-42	139	113	manufacturing	manufacturing	NOUN
gujaf-42	139	114	firms	firm	NOUN
gujaf-42	139	115	in	in	ADP
gujaf-42	139	116	nigeria	nigeria	PROPN
gujaf-42	139	117	.	.	PUNCT
gujaf-42	140	1	however	however	ADV
gujaf-42	140	2	,	,	PUNCT
gujaf-42	140	3	probable	probable	ADJ
gujaf-42	140	4	implication	implication	NOUN
gujaf-42	140	5	arising	arise	VERB
gujaf-42	140	6	from	from	ADP
gujaf-42	140	7	this	this	DET
gujaf-42	140	8	result	result	NOUN
gujaf-42	140	9	is	be	AUX
gujaf-42	140	10	that	that	SCONJ
gujaf-42	140	11	the	the	DET
gujaf-42	140	12	variables	variable	NOUN
gujaf-42	140	13	have	have	VERB
gujaf-42	140	14	moderate	moderate	ADJ
gujaf-42	140	15	sensitivity	sensitivity	NOUN
gujaf-42	140	16	to	to	ADP
gujaf-42	140	17	cch	cch	PROPN
gujaf-42	140	18	.	.	PUNCT
gujaf-42	141	1	in	in	ADP
gujaf-42	141	2	contrast	contrast	NOUN
gujaf-42	141	3	,	,	PUNCT
gujaf-42	141	4	lev	lev	NOUN
gujaf-42	141	5	and	and	CCONJ
gujaf-42	141	6	capex	capex	NOUN
gujaf-42	141	7	were	be	AUX
gujaf-42	141	8	found	find	VERB
gujaf-42	141	9	to	to	PART
gujaf-42	141	10	have	have	VERB
gujaf-42	141	11	negative	negative	ADJ
gujaf-42	141	12	relationship	relationship	NOUN
gujaf-42	141	13	with	with	ADP
gujaf-42	141	14	cch	cch	PROPN
gujaf-42	141	15	.	.	PUNCT
gujaf-42	142	1	on	on	ADP
gujaf-42	142	2	the	the	DET
gujaf-42	142	3	other	other	ADJ
gujaf-42	142	4	hand	hand	NOUN
gujaf-42	142	5	,	,	PUNCT
gujaf-42	142	6	the	the	DET
gujaf-42	142	7	relationship	relationship	NOUN
gujaf-42	142	8	among	among	ADP
gujaf-42	142	9	the	the	DET
gujaf-42	142	10	independent	independent	ADJ
gujaf-42	142	11	variables	variable	NOUN
gujaf-42	142	12	is	be	AUX
gujaf-42	142	13	not	not	PART
gujaf-42	142	14	too	too	ADV
gujaf-42	142	15	strong	strong	ADJ
gujaf-42	142	16	to	to	PART
gujaf-42	142	17	warrant	warrant	VERB
gujaf-42	142	18	problem	problem	NOUN
gujaf-42	142	19	of	of	ADP
gujaf-42	142	20	multicollinearity	multicollinearity	NOUN
gujaf-42	142	21	as	as	SCONJ
gujaf-42	142	22	the	the	DET
gujaf-42	142	23	coefficient	coefficient	NOUN
gujaf-42	142	24	are	be	AUX
gujaf-42	142	25	less	less	ADJ
gujaf-42	142	26	than	than	ADP
gujaf-42	142	27	0.80(gujarati	0.80(gujarati	NUM
gujaf-42	142	28	,	,	PUNCT
gujaf-42	142	29	2004	2004	NUM
gujaf-42	142	30	)	)	PUNCT
gujaf-42	142	31	.	.	PUNCT
gujaf-42	143	1	to	to	PART
gujaf-42	143	2	further	far	ADV
gujaf-42	143	3	consider	consider	VERB
gujaf-42	143	4	the	the	DET
gujaf-42	143	5	collinearity	collinearity	NOUN
gujaf-42	143	6	issues	issue	NOUN
gujaf-42	143	7	,	,	PUNCT
gujaf-42	143	8	this	this	PRON
gujaf-42	143	9	study	study	NOUN
gujaf-42	143	10	conducted	conduct	VERB
gujaf-42	143	11	variance	variance	NOUN
gujaf-42	143	12	inflation	inflation	NOUN
gujaf-42	143	13	factor	factor	NOUN
gujaf-42	143	14	(	(	PUNCT
gujaf-42	143	15	vif	vif	NOUN
gujaf-42	143	16	)	)	PUNCT
gujaf-42	143	17	test	test	NOUN
gujaf-42	143	18	to	to	PART
gujaf-42	143	19	quantify	quantify	VERB
gujaf-42	143	20	its	its	PRON
gujaf-42	143	21	severity	severity	NOUN
gujaf-42	143	22	in	in	ADP
gujaf-42	143	23	our	our	PRON
gujaf-42	143	24	model	model	NOUN
gujaf-42	143	25	,	,	PUNCT
gujaf-42	143	26	where	where	SCONJ
gujaf-42	143	27	the	the	DET
gujaf-42	143	28	variance	variance	NOUN
gujaf-42	143	29	factors	factor	NOUN
gujaf-42	143	30	of	of	ADP
gujaf-42	143	31	each	each	DET
gujaf-42	143	32	variable	variable	NOUN
gujaf-42	143	33	is	be	AUX
gujaf-42	143	34	calculated	calculate	VERB
gujaf-42	143	35	.	.	PUNCT
gujaf-42	144	1	the	the	DET
gujaf-42	144	2	results	result	NOUN
gujaf-42	144	3	of	of	ADP
gujaf-42	144	4	the	the	DET
gujaf-42	144	5	vif	vif	NOUN
gujaf-42	144	6	test	test	NOUN
gujaf-42	144	7	ranges	range	VERB
gujaf-42	144	8	from	from	ADP
gujaf-42	144	9	a	a	DET
gujaf-42	144	10	minimum	minimum	NOUN
gujaf-42	144	11	of	of	ADP
gujaf-42	144	12	1.202	1.202	NUM
gujaf-42	144	13	to	to	ADP
gujaf-42	144	14	a	a	DET
gujaf-42	144	15	maximum	maximum	NOUN
gujaf-42	144	16	of	of	ADP
gujaf-42	144	17	1.325	1.325	NUM
gujaf-42	144	18	which	which	PRON
gujaf-42	144	19	are	be	AUX
gujaf-42	144	20	all	all	ADV
gujaf-42	144	21	less	less	ADJ
gujaf-42	144	22	than	than	ADP
gujaf-42	144	23	10	10	NUM
gujaf-42	144	24	hence	hence	ADV
gujaf-42	144	25	the	the	DET
gujaf-42	144	26	absence	absence	NOUN
gujaf-42	144	27	of	of	ADP
gujaf-42	144	28	collinearity	collinearity	NOUN
gujaf-42	144	29	among	among	ADP
gujaf-42	144	30	the	the	DET
gujaf-42	144	31	explanatory	explanatory	ADJ
gujaf-42	144	32	variables(hair	variables(hair	PROPN
gujaf-42	144	33	et	et	PROPN
gujaf-42	144	34	al	al	PROPN
gujaf-42	144	35	.	.	PROPN
gujaf-42	144	36	,	,	PUNCT
gujaf-42	144	37	2014).to	2014).to	PRON
gujaf-42	144	38	further	far	ADV
gujaf-42	144	39	substantiate	substantiate	VERB
gujaf-42	144	40	this	this	DET
gujaf-42	144	41	claim	claim	NOUN
gujaf-42	144	42	,	,	PUNCT
gujaf-42	144	43	the	the	DET
gujaf-42	144	44	mean	mean	NOUN
gujaf-42	144	45	vif	vif	NOUN
gujaf-42	144	46	is	be	AUX
gujaf-42	144	47	1.26	1.26	NUM
gujaf-42	144	48	,	,	PUNCT
gujaf-42	144	49	also	also	ADV
gujaf-42	144	50	confirming	confirm	VERB
gujaf-42	144	51	the	the	DET
gujaf-42	144	52	absence	absence	NOUN
gujaf-42	144	53	of	of	ADP
gujaf-42	144	54	multicollinearity	multicollinearity	NOUN
gujaf-42	144	55	among	among	ADP
gujaf-42	144	56	all	all	DET
gujaf-42	144	57	the	the	DET
gujaf-42	144	58	explanatory	explanatory	ADJ
gujaf-42	144	59	and	and	CCONJ
gujaf-42	144	60	control	control	NOUN
gujaf-42	144	61	variables	variable	NOUN
gujaf-42	144	62	of	of	ADP
gujaf-42	144	63	the	the	DET
gujaf-42	144	64	study	study	NOUN
gujaf-42	144	65	.	.	PUNCT
gujaf-42	145	1	diagnostic	diagnostic	ADJ
gujaf-42	145	2	test	test	NOUN
gujaf-42	145	3	before	before	ADP
gujaf-42	145	4	the	the	DET
gujaf-42	145	5	conduct	conduct	NOUN
gujaf-42	145	6	of	of	ADP
gujaf-42	145	7	the	the	DET
gujaf-42	145	8	final	final	ADJ
gujaf-42	145	9	regression	regression	NOUN
gujaf-42	145	10	,	,	PUNCT
gujaf-42	145	11	this	this	DET
gujaf-42	145	12	study	study	NOUN
gujaf-42	145	13	conducted	conduct	VERB
gujaf-42	145	14	diagnostic	diagnostic	ADJ
gujaf-42	145	15	analysis	analysis	NOUN
gujaf-42	145	16	to	to	PART
gujaf-42	145	17	maintain	maintain	VERB
gujaf-42	145	18	the	the	DET
gujaf-42	145	19	un	un	PROPN
gujaf-42	145	20	-	-	NOUN
gujaf-42	145	21	biasness	biasness	NOUN
gujaf-42	145	22	of	of	ADP
gujaf-42	145	23	the	the	DET
gujaf-42	145	24	parameters	parameter	NOUN
gujaf-42	145	25	as	as	SCONJ
gujaf-42	145	26	argued	argue	VERB
gujaf-42	145	27	by	by	ADP
gujaf-42	145	28	wooldridge	wooldridge	PROPN
gujaf-42	145	29	(	(	PUNCT
gujaf-42	145	30	2011	2011	NUM
gujaf-42	145	31	)	)	PUNCT
gujaf-42	145	32	.	.	PUNCT
gujaf-42	146	1	among	among	ADP
gujaf-42	146	2	the	the	DET
gujaf-42	146	3	test	test	NOUN
gujaf-42	146	4	conducted	conduct	VERB
gujaf-42	146	5	in	in	ADP
gujaf-42	146	6	addition	addition	NOUN
gujaf-42	146	7	to	to	ADP
gujaf-42	146	8	the	the	DET
gujaf-42	146	9	multicollinearity	multicollinearity	NOUN
gujaf-42	146	10	test	test	NOUN
gujaf-42	146	11	are	be	AUX
gujaf-42	146	12	based	base	VERB
gujaf-42	146	13	on	on	ADP
gujaf-42	146	14	the	the	DET
gujaf-42	146	15	recommendation	recommendation	NOUN
gujaf-42	146	16	of	of	ADP
gujaf-42	146	17	wooldridge	wooldridge	PROPN
gujaf-42	146	18	(	(	PUNCT
gujaf-42	146	19	2011	2011	NUM
gujaf-42	146	20	)	)	PUNCT
gujaf-42	146	21	is	be	AUX
gujaf-42	146	22	hausman	hausman	ADJ
gujaf-42	146	23	test	test	NOUN
gujaf-42	146	24	to	to	PART
gujaf-42	146	25	make	make	VERB
gujaf-42	146	26	a	a	DET
gujaf-42	146	27	choice	choice	NOUN
gujaf-42	146	28	between	between	ADP
gujaf-42	146	29	random	random	ADJ
gujaf-42	146	30	and	and	CCONJ
gujaf-42	146	31	fixed	fix	VERB
gujaf-42	146	32	effect	effect	NOUN
gujaf-42	146	33	models	model	NOUN
gujaf-42	146	34	.	.	PUNCT
gujaf-42	147	1	with	with	ADP
gujaf-42	147	2	the	the	DET
gujaf-42	147	3	p	p	NOUN
gujaf-42	147	4	-	-	PUNCT
gujaf-42	147	5	value	value	NOUN
gujaf-42	147	6	of	of	ADP
gujaf-42	147	7	0.0000	0.0000	NUM
gujaf-42	147	8	which	which	PRON
gujaf-42	147	9	is	be	AUX
gujaf-42	147	10	statistically	statistically	ADV
gujaf-42	147	11	significant	significant	ADJ
gujaf-42	147	12	,	,	PUNCT
gujaf-42	147	13	fixed	fix	VERB
gujaf-42	147	14	effect	effect	NOUN
gujaf-42	147	15	model	model	NOUN
gujaf-42	147	16	is	be	AUX
gujaf-42	147	17	therefore	therefore	ADV
gujaf-42	147	18	considered	consider	VERB
gujaf-42	147	19	appropriate	appropriate	ADJ
gujaf-42	147	20	for	for	ADP
gujaf-42	147	21	this	this	DET
gujaf-42	147	22	study	study	NOUN
gujaf-42	147	23	.	.	PUNCT
gujaf-42	148	1	further	further	ADJ
gujaf-42	148	2	test	test	NOUN
gujaf-42	148	3	such	such	ADJ
gujaf-42	148	4	as	as	ADP
gujaf-42	148	5	normality	normality	NOUN
gujaf-42	148	6	,	,	PUNCT
gujaf-42	148	7	heteroskedasticity	heteroskedasticity	NOUN
gujaf-42	148	8	and	and	CCONJ
gujaf-42	148	9	auto	auto	NOUN
gujaf-42	148	10	correlation	correlation	NOUN
gujaf-42	148	11	test	test	NOUN
gujaf-42	148	12	were	be	AUX
gujaf-42	148	13	also	also	ADV
gujaf-42	148	14	conducted	conduct	VERB
gujaf-42	148	15	.	.	PUNCT
gujaf-42	149	1	this	this	DET
gujaf-42	149	2	study	study	NOUN
gujaf-42	149	3	conducted	conduct	VERB
gujaf-42	149	4	a	a	DET
gujaf-42	149	5	normility	normility	NOUN
gujaf-42	149	6	test	test	NOUN
gujaf-42	149	7	on	on	ADP
gujaf-42	149	8	the	the	DET
gujaf-42	149	9	residuals	residual	NOUN
gujaf-42	149	10	of	of	ADP
gujaf-42	149	11	the	the	DET
gujaf-42	149	12	model	model	NOUN
gujaf-42	149	13	using	use	VERB
gujaf-42	149	14	shapiro	shapiro	PROPN
gujaf-42	149	15	-	-	PUNCT
gujaf-42	149	16	wilk	wilk	NOUN
gujaf-42	149	17	and	and	CCONJ
gujaf-42	149	18	the	the	DET
gujaf-42	149	19	study	study	NOUN
gujaf-42	149	20	found	find	VERB
gujaf-42	149	21	that	that	SCONJ
gujaf-42	149	22	,	,	PUNCT
gujaf-42	149	23	the	the	DET
gujaf-42	149	24	residual	residual	ADJ
gujaf-42	149	25	was	be	AUX
gujaf-42	149	26	normally	normally	ADV
gujaf-42	149	27	distributed	distribute	VERB
gujaf-42	149	28	as	as	SCONJ
gujaf-42	149	29	the	the	DET
gujaf-42	149	30	p	p	NOUN
gujaf-42	149	31	-	-	PUNCT
gujaf-42	149	32	value	value	NOUN
gujaf-42	149	33	is	be	AUX
gujaf-42	149	34	statistically	statistically	ADV
gujaf-42	149	35	insignificant	insignificant	ADJ
gujaf-42	149	36	.	.	PUNCT
gujaf-42	150	1	while	while	SCONJ
gujaf-42	150	2	the	the	DET
gujaf-42	150	3	wooldridge	wooldridge	PROPN
gujaf-42	150	4	test	test	NOUN
gujaf-42	150	5	for	for	ADP
gujaf-42	150	6	autocorrelation	autocorrelation	NOUN
gujaf-42	150	7	in	in	ADP
gujaf-42	150	8	panel	panel	NOUN
gujaf-42	150	9	data	datum	NOUN
gujaf-42	150	10	was	be	AUX
gujaf-42	150	11	also	also	ADV
gujaf-42	150	12	significant	significant	ADJ
gujaf-42	150	13	indicating	indicate	VERB
gujaf-42	150	14	presence	presence	NOUN
gujaf-42	150	15	of	of	ADP
gujaf-42	150	16	auto	auto	NOUN
gujaf-42	150	17	correlation	correlation	NOUN
gujaf-42	150	18	.	.	PUNCT
gujaf-42	151	1	also	also	ADV
gujaf-42	151	2	the	the	DET
gujaf-42	151	3	heteroskedasticity	heteroskedasticity	NOUN
gujaf-42	151	4	test	test	NOUN
gujaf-42	151	5	conducted	conduct	VERB
gujaf-42	151	6	gusau	gusau	ADJ
gujaf-42	151	7	journal	journal	NOUN
gujaf-42	151	8	of	of	ADP
gujaf-42	151	9	accounting	accounting	NOUN
gujaf-42	151	10	and	and	CCONJ
gujaf-42	151	11	finance	finance	NOUN
gujaf-42	151	12	,	,	PUNCT
gujaf-42	151	13	vol	vol	NOUN
gujaf-42	151	14	.	.	PUNCT
gujaf-42	152	1	i	i	PRON
gujaf-42	152	2	,	,	PUNCT
gujaf-42	152	3	issue	issue	NOUN
gujaf-42	152	4	2	2	NUM
gujaf-42	152	5	,	,	PUNCT
gujaf-42	152	6	october	october	PROPN
gujaf-42	152	7	,	,	PUNCT
gujaf-42	152	8	2020	2020	NUM
gujaf-42	152	9	11	11	NUM
gujaf-42	152	10	using	use	VERB
gujaf-42	152	11	modified	modified	ADJ
gujaf-42	152	12	group	group	NOUN
gujaf-42	152	13	wise	wise	ADV
gujaf-42	152	14	proved	prove	VERB
gujaf-42	152	15	statistically	statistically	ADV
gujaf-42	152	16	significant	significant	ADJ
gujaf-42	152	17	with	with	ADP
gujaf-42	152	18	the	the	DET
gujaf-42	152	19	p	p	NOUN
gujaf-42	152	20	-	-	PUNCT
gujaf-42	152	21	value	value	NOUN
gujaf-42	152	22	of	of	ADP
gujaf-42	152	23	0.000	0.000	NUM
gujaf-42	152	24	,	,	PUNCT
gujaf-42	152	25	which	which	PRON
gujaf-42	152	26	indicates	indicate	VERB
gujaf-42	152	27	absence	absence	NOUN
gujaf-42	152	28	of	of	ADP
gujaf-42	152	29	homoscedacity	homoscedacity	NOUN
gujaf-42	152	30	.	.	PUNCT
gujaf-42	153	1	the	the	DET
gujaf-42	153	2	presence	presence	NOUN
gujaf-42	153	3	of	of	ADP
gujaf-42	153	4	heteroscedasticity	heteroscedasticity	NOUN
gujaf-42	153	5	violates	violate	VERB
gujaf-42	153	6	the	the	DET
gujaf-42	153	7	homoscedasticity	homoscedasticity	NOUN
gujaf-42	153	8	assumption	assumption	NOUN
gujaf-42	153	9	and	and	CCONJ
gujaf-42	153	10	may	may	AUX
gujaf-42	153	11	lead	lead	VERB
gujaf-42	153	12	to	to	ADP
gujaf-42	153	13	a	a	DET
gujaf-42	153	14	wrong	wrong	ADJ
gujaf-42	153	15	inference	inference	NOUN
gujaf-42	153	16	.	.	PUNCT
gujaf-42	154	1	due	due	ADP
gujaf-42	154	2	to	to	ADP
gujaf-42	154	3	the	the	DET
gujaf-42	154	4	presence	presence	NOUN
gujaf-42	154	5	of	of	ADP
gujaf-42	154	6	heteroskedasticity	heteroskedasticity	NOUN
gujaf-42	154	7	and	and	CCONJ
gujaf-42	154	8	auto	auto	NOUN
gujaf-42	154	9	correlationin	correlationin	NOUN
gujaf-42	154	10	the	the	DET
gujaf-42	154	11	fixed	fix	VERB
gujaf-42	154	12	effect	effect	NOUN
gujaf-42	154	13	model	model	NOUN
gujaf-42	154	14	,	,	PUNCT
gujaf-42	154	15	the	the	DET
gujaf-42	154	16	study	study	NOUN
gujaf-42	154	17	therefore	therefore	ADV
gujaf-42	154	18	conducted	conduct	VERB
gujaf-42	154	19	panel	panel	NOUN
gujaf-42	154	20	corrected	correct	VERB
gujaf-42	154	21	standard	standard	ADJ
gujaf-42	154	22	error	error	NOUN
gujaf-42	154	23	(	(	PUNCT
gujaf-42	154	24	pcse	pcse	PROPN
gujaf-42	154	25	)	)	PUNCT
gujaf-42	154	26	model	model	NOUN
gujaf-42	154	27	which	which	PRON
gujaf-42	154	28	overcome	overcome	VERB
gujaf-42	154	29	the	the	DET
gujaf-42	154	30	both	both	DET
gujaf-42	154	31	heteroskedasticity	heteroskedasticity	NOUN
gujaf-42	154	32	and	and	CCONJ
gujaf-42	154	33	auto	auto	NOUN
gujaf-42	154	34	correlation	correlation	NOUN
gujaf-42	154	35	issues	issue	NOUN
gujaf-42	154	36	.	.	PUNCT
gujaf-42	155	1	pcse	pcse	PROPN
gujaf-42	155	2	preserves	preserve	VERB
gujaf-42	155	3	the	the	DET
gujaf-42	155	4	weighting	weighting	NOUN
gujaf-42	155	5	of	of	ADP
gujaf-42	155	6	observation	observation	NOUN
gujaf-42	155	7	for	for	ADP
gujaf-42	155	8	autocorrelation	autocorrelation	NOUN
gujaf-42	155	9	,	,	PUNCT
gujaf-42	155	10	but	but	CCONJ
gujaf-42	155	11	uses	use	VERB
gujaf-42	155	12	a	a	DET
gujaf-42	155	13	sandwich	sandwich	NOUN
gujaf-42	155	14	estimator	estimator	NOUN
gujaf-42	155	15	to	to	PART
gujaf-42	155	16	incorporate	incorporate	VERB
gujaf-42	155	17	cross	cross	ADJ
gujaf-42	155	18	-	-	ADJ
gujaf-42	155	19	sectional	sectional	ADJ
gujaf-42	155	20	dependence	dependence	NOUN
gujaf-42	155	21	when	when	SCONJ
gujaf-42	155	22	calculating	calculate	VERB
gujaf-42	155	23	standard	standard	ADJ
gujaf-42	155	24	errors	error	NOUN
gujaf-42	155	25	(	(	PUNCT
gujaf-42	155	26	mantobaye	mantobaye	NOUN
gujaf-42	155	27	moundigbaye	moundigbaye	NOUN
gujaf-42	155	28	,	,	PUNCT
gujaf-42	155	29	william	william	PROPN
gujaf-42	155	30	s.	s.	PROPN
gujaf-42	155	31	rea	rea	PROPN
gujaf-42	155	32	,	,	PUNCT
gujaf-42	155	33	2017	2017	NUM
gujaf-42	155	34	)	)	PUNCT
gujaf-42	155	35	.	.	PUNCT
gujaf-42	156	1	thus	thus	ADV
gujaf-42	156	2	,	,	PUNCT
gujaf-42	156	3	this	this	DET
gujaf-42	156	4	study	study	NOUN
gujaf-42	156	5	run	run	VERB
gujaf-42	156	6	the	the	DET
gujaf-42	156	7	pcse	pcse	NOUN
gujaf-42	156	8	model	model	NOUN
gujaf-42	156	9	based	base	VERB
gujaf-42	156	10	on	on	ADP
gujaf-42	156	11	the	the	DET
gujaf-42	156	12	recommendation	recommendation	NOUN
gujaf-42	156	13	of	of	ADP
gujaf-42	156	14	gujarati	gujarati	PROPN
gujaf-42	156	15	(	(	PUNCT
gujaf-42	156	16	2004	2004	NUM
gujaf-42	156	17	)	)	PUNCT
gujaf-42	156	18	and	and	CCONJ
gujaf-42	156	19	finally	finally	ADV
gujaf-42	156	20	,	,	PUNCT
gujaf-42	156	21	the	the	DET
gujaf-42	156	22	psce	psce	NOUN
gujaf-42	156	23	model	model	NOUN
gujaf-42	156	24	is	be	AUX
gujaf-42	156	25	hereby	hereby	ADV
gujaf-42	156	26	presented	present	VERB
gujaf-42	156	27	and	and	CCONJ
gujaf-42	156	28	discussed	discuss	VERB
gujaf-42	156	29	next	next	ADV
gujaf-42	156	30	.	.	PUNCT
gujaf-42	157	1	panel	panel	NOUN
gujaf-42	157	2	corrected	correct	VERB
gujaf-42	157	3	standard	standard	ADJ
gujaf-42	157	4	error	error	NOUN
gujaf-42	157	5	(	(	PUNCT
gujaf-42	157	6	pcse	pcse	PROPN
gujaf-42	157	7	)	)	PUNCT
gujaf-42	157	8	result	result	VERB
gujaf-42	157	9	the	the	DET
gujaf-42	157	10	study	study	NOUN
gujaf-42	157	11	presents	present	VERB
gujaf-42	157	12	the	the	DET
gujaf-42	157	13	regression	regression	NOUN
gujaf-42	157	14	result	result	NOUN
gujaf-42	157	15	panel	panel	NOUN
gujaf-42	157	16	corrected	correct	VERB
gujaf-42	157	17	standard	standard	ADJ
gujaf-42	157	18	error	error	NOUN
gujaf-42	157	19	(	(	PUNCT
gujaf-42	157	20	pcse	pcse	NOUN
gujaf-42	157	21	)	)	PUNCT
gujaf-42	157	22	regression	regression	NOUN
gujaf-42	157	23	in	in	ADP
gujaf-42	157	24	table	table	NOUN
gujaf-42	157	25	3	3	NUM
gujaf-42	157	26	below	below	ADV
gujaf-42	157	27	.	.	PUNCT
gujaf-42	158	1	table	table	NOUN
gujaf-42	158	2	4.3	4.3	NUM
gujaf-42	158	3	:	:	PUNCT
gujaf-42	158	4	panel	panel	NOUN
gujaf-42	158	5	corrected	correct	VERB
gujaf-42	158	6	standard	standard	ADJ
gujaf-42	158	7	errorregression	errorregression	PROPN
gujaf-42	158	8	cch	cch	PROPN
gujaf-42	158	9	coef	coef	PROPN
gujaf-42	158	10	.	.	PUNCT
gujaf-42	159	1	st.err	st.err	PROPN
gujaf-42	159	2	.	.	PUNCT
gujaf-42	160	1	zvalue	zvalue	PROPN
gujaf-42	160	2	p	p	ADJ
gujaf-42	160	3	-	-	PUNCT
gujaf-42	160	4	value	value	NOUN
gujaf-42	160	5	prof	prof	NOUN
gujaf-42	160	6	0.097	0.097	NUM
gujaf-42	160	7	0.031	0.031	NUM
gujaf-42	160	8	3.10	3.10	NUM
gujaf-42	160	9	0.002	0.002	NUM
gujaf-42	160	10	lev	lev	NOUN
gujaf-42	160	11	-0.588	-0.588	PUNCT
gujaf-42	160	12	0.137	0.137	NUM
gujaf-42	160	13	-7.19	-7.19	NUM
gujaf-42	160	14	0.000	0.000	NUM
gujaf-42	160	15	ntwc	ntwc	PROPN
gujaf-42	160	16	4.235	4.235	NUM
gujaf-42	160	17	0.988	0.988	NUM
gujaf-42	160	18	4.29	4.29	NUM
gujaf-42	160	19	0.000	0.000	NUM
gujaf-42	160	20	capex	capex	NOUN
gujaf-42	160	21	-0.207	-0.207	PROPN
gujaf-42	160	22	0.149	0.149	NUM
gujaf-42	160	23	-1.39	-1.39	NUM
gujaf-42	160	24	0.164	0.164	NUM
gujaf-42	160	25	constant	constant	ADJ
gujaf-42	160	26	0.295	0.295	NUM
gujaf-42	160	27	0.074	0.074	NUM
gujaf-42	160	28	3.96	3.96	NUM
gujaf-42	160	29	0.000	0.000	NUM
gujaf-42	160	30	r	r	NOUN
gujaf-42	160	31	-	-	PUNCT
gujaf-42	160	32	squared	square	VERB
gujaf-42	160	33	number	number	NOUN
gujaf-42	160	34	of	of	ADP
gujaf-42	160	35	obs	obs	PROPN
gujaf-42	160	36	chi	chi	PROPN
gujaf-42	160	37	-	-	PUNCT
gujaf-42	160	38	square	square	ADJ
gujaf-42	160	39	0.4735	0.4735	NUM
gujaf-42	160	40	280.000	280.000	NUM
gujaf-42	160	41	48.26	48.26	NUM
gujaf-42	160	42	hettest	hett	ADJ
gujaf-42	160	43	p	p	NOUN
gujaf-42	160	44	-	-	PUNCT
gujaf-42	160	45	value	value	NOUN
gujaf-42	160	46	hausman	hausman	ADJ
gujaf-42	160	47	p	p	ADJ
gujaf-42	160	48	-	-	PUNCT
gujaf-42	160	49	value	value	NOUN
gujaf-42	160	50	normality	normality	NOUN
gujaf-42	160	51	test	test	NOUN
gujaf-42	160	52	0.000	0.000	NUM
gujaf-42	160	53	0.000	0.000	NUM
gujaf-42	160	54	0.633	0.633	NUM
gujaf-42	160	55	prob	prob	PROPN
gujaf-42	160	56	>	>	X
gujaf-42	160	57	chi2	chi2	PROPN
gujaf-42	160	58	0.000	0.000	NUM
gujaf-42	161	1	*	*	PUNCT
gujaf-42	161	2	*	*	PUNCT
gujaf-42	161	3	*	*	PUNCT
gujaf-42	161	4	p<0.01	p<0.01	PROPN
gujaf-42	161	5	,	,	PUNCT
gujaf-42	161	6	*	*	PUNCT
gujaf-42	161	7	*	*	PUNCT
gujaf-42	161	8	p<0.05	p<0.05	NOUN
gujaf-42	161	9	,	,	PUNCT
gujaf-42	161	10	*	*	SYM
gujaf-42	161	11	p<0.1	p<0.1	NUM
gujaf-42	161	12	source	source	NOUN
gujaf-42	161	13	:	:	PUNCT
gujaf-42	161	14	summary	summary	NOUN
gujaf-42	161	15	of	of	ADP
gujaf-42	161	16	stata	stata	PROPN
gujaf-42	161	17	output	output	VERB
gujaf-42	161	18	the	the	DET
gujaf-42	161	19	result	result	NOUN
gujaf-42	161	20	in	in	ADP
gujaf-42	161	21	table	table	NOUN
gujaf-42	161	22	3	3	NUM
gujaf-42	161	23	shows	show	VERB
gujaf-42	161	24	the	the	DET
gujaf-42	161	25	result	result	NOUN
gujaf-42	161	26	obtained	obtain	VERB
gujaf-42	161	27	from	from	ADP
gujaf-42	161	28	the	the	DET
gujaf-42	161	29	panel	panel	NOUN
gujaf-42	161	30	corrected	correct	VERB
gujaf-42	161	31	standard	standard	ADJ
gujaf-42	161	32	error	error	NOUN
gujaf-42	161	33	regression	regression	NOUN
gujaf-42	161	34	(	(	PUNCT
gujaf-42	161	35	psces	psce	NOUN
gujaf-42	161	36	)	)	PUNCT
gujaf-42	161	37	which	which	PRON
gujaf-42	161	38	was	be	AUX
gujaf-42	161	39	interpreted	interpret	VERB
gujaf-42	161	40	after	after	ADP
gujaf-42	161	41	conducting	conduct	VERB
gujaf-42	161	42	all	all	DET
gujaf-42	161	43	relevant	relevant	ADJ
gujaf-42	161	44	tests	test	NOUN
gujaf-42	161	45	.	.	PUNCT
gujaf-42	162	1	the	the	DET
gujaf-42	162	2	coefficient	coefficient	NOUN
gujaf-42	162	3	of	of	ADP
gujaf-42	162	4	determinationr	determinationr	NOUN
gujaf-42	162	5	-	-	PUNCT
gujaf-42	162	6	squared	square	VERB
gujaf-42	162	7	was	be	AUX
gujaf-42	162	8	0.4735	0.4735	NUM
gujaf-42	162	9	which	which	PRON
gujaf-42	162	10	showed	show	VERB
gujaf-42	162	11	that	that	SCONJ
gujaf-42	162	12	about	about	ADP
gujaf-42	162	13	47.35%%	47.35%%	PROPN
gujaf-42	162	14	of	of	ADP
gujaf-42	162	15	variation	variation	NOUN
gujaf-42	162	16	in	in	ADP
gujaf-42	162	17	cch	cch	PROPN
gujaf-42	162	18	as	as	SCONJ
gujaf-42	162	19	was	be	AUX
gujaf-42	162	20	caused	cause	VERB
gujaf-42	162	21	by	by	ADP
gujaf-42	162	22	variations	variation	NOUN
gujaf-42	162	23	in	in	ADP
gujaf-42	162	24	explanatory	explanatory	ADJ
gujaf-42	162	25	gusau	gusau	ADJ
gujaf-42	162	26	journal	journal	NOUN
gujaf-42	162	27	of	of	ADP
gujaf-42	162	28	accounting	accounting	NOUN
gujaf-42	162	29	and	and	CCONJ
gujaf-42	162	30	finance	finance	NOUN
gujaf-42	162	31	,	,	PUNCT
gujaf-42	162	32	vol	vol	NOUN
gujaf-42	162	33	.	.	PUNCT
gujaf-42	163	1	i	i	PRON
gujaf-42	163	2	,	,	PUNCT
gujaf-42	163	3	issue	issue	NOUN
gujaf-42	163	4	2	2	NUM
gujaf-42	163	5	,	,	PUNCT
gujaf-42	163	6	october	october	PROPN
gujaf-42	163	7	,	,	PUNCT
gujaf-42	163	8	2020	2020	NUM
gujaf-42	163	9	12	12	NUM
gujaf-42	163	10	variables	variable	NOUN
gujaf-42	163	11	as	as	SCONJ
gujaf-42	163	12	indicated	indicate	VERB
gujaf-42	163	13	by	by	ADP
gujaf-42	163	14	the	the	DET
gujaf-42	163	15	model	model	NOUN
gujaf-42	163	16	.	.	PUNCT
gujaf-42	164	1	this	this	PRON
gujaf-42	164	2	implies	imply	VERB
gujaf-42	164	3	that	that	DET
gujaf-42	164	4	profitability	profitability	NOUN
gujaf-42	164	5	(	(	PUNCT
gujaf-42	164	6	prof	prof	NOUN
gujaf-42	164	7	)	)	PUNCT
gujaf-42	164	8	,	,	PUNCT
gujaf-42	164	9	leverage	leverage	NOUN
gujaf-42	164	10	(	(	PUNCT
gujaf-42	164	11	lev	lev	NOUN
gujaf-42	164	12	)	)	PUNCT
gujaf-42	164	13	,	,	PUNCT
gujaf-42	164	14	networking	network	VERB
gujaf-42	164	15	capital	capital	NOUN
gujaf-42	164	16	(	(	PUNCT
gujaf-42	164	17	ntwc	ntwc	NOUN
gujaf-42	164	18	)	)	PUNCT
gujaf-42	164	19	and	and	CCONJ
gujaf-42	164	20	capex	capex	NOUN
gujaf-42	164	21	jointly	jointly	ADV
gujaf-42	164	22	explained	explain	VERB
gujaf-42	164	23	47.35	47.35	NUM
gujaf-42	164	24	%	%	NOUN
gujaf-42	164	25	of	of	ADP
gujaf-42	164	26	corporate	corporate	ADJ
gujaf-42	164	27	cash	cash	NOUN
gujaf-42	164	28	holding	holding	NOUN
gujaf-42	164	29	of	of	ADP
gujaf-42	164	30	quoted	quote	VERB
gujaf-42	164	31	manufacturing	manufacturing	NOUN
gujaf-42	164	32	firms	firm	NOUN
gujaf-42	164	33	in	in	ADP
gujaf-42	164	34	nigeria	nigeria	PROPN
gujaf-42	164	35	and	and	CCONJ
gujaf-42	164	36	it	it	PRON
gujaf-42	164	37	is	be	AUX
gujaf-42	164	38	statistically	statistically	ADV
gujaf-42	164	39	significant	significant	ADJ
gujaf-42	164	40	at	at	ADP
gujaf-42	164	41	1	1	NUM
gujaf-42	164	42	%	%	NOUN
gujaf-42	164	43	as	as	SCONJ
gujaf-42	164	44	indicated	indicate	VERB
gujaf-42	164	45	with	with	ADP
gujaf-42	164	46	p	p	NOUN
gujaf-42	164	47	-	-	PUNCT
gujaf-42	164	48	value	value	NOUN
gujaf-42	164	49	of	of	ADP
gujaf-42	164	50	0.000	0.000	NUM
gujaf-42	164	51	and	and	CCONJ
gujaf-42	164	52	chi	chi	NOUN
gujaf-42	164	53	-	-	PUNCT
gujaf-42	164	54	square	square	NOUN
gujaf-42	164	55	of	of	ADP
gujaf-42	164	56	65.23	65.23	NUM
gujaf-42	164	57	respectively	respectively	ADV
gujaf-42	164	58	.	.	PUNCT
gujaf-42	165	1	while	while	SCONJ
gujaf-42	165	2	the	the	DET
gujaf-42	165	3	remaining	remain	VERB
gujaf-42	165	4	52.65	52.65	NUM
gujaf-42	165	5	%	%	NOUN
gujaf-42	165	6	are	be	AUX
gujaf-42	165	7	caused	cause	VERB
gujaf-42	165	8	by	by	ADP
gujaf-42	165	9	other	other	ADJ
gujaf-42	165	10	variables	variable	NOUN
gujaf-42	165	11	not	not	PART
gujaf-42	165	12	found	find	VERB
gujaf-42	165	13	in	in	ADP
gujaf-42	165	14	the	the	DET
gujaf-42	165	15	equation	equation	NOUN
gujaf-42	165	16	but	but	CCONJ
gujaf-42	165	17	measured	measure	VERB
gujaf-42	165	18	by	by	ADP
gujaf-42	165	19	the	the	DET
gujaf-42	165	20	error	error	NOUN
gujaf-42	165	21	term	term	NOUN
gujaf-42	165	22	.	.	PUNCT
gujaf-42	166	1	from	from	ADP
gujaf-42	166	2	the	the	DET
gujaf-42	166	3	table	table	NOUN
gujaf-42	166	4	3	3	NUM
gujaf-42	166	5	the	the	DET
gujaf-42	166	6	relationship	relationship	NOUN
gujaf-42	166	7	between	between	ADP
gujaf-42	166	8	profitability	profitability	NOUN
gujaf-42	166	9	(	(	PUNCT
gujaf-42	166	10	prof	prof	NOUN
gujaf-42	166	11	)	)	PUNCT
gujaf-42	166	12	and	and	CCONJ
gujaf-42	166	13	corporate	corporate	ADJ
gujaf-42	166	14	cash	cash	NOUN
gujaf-42	166	15	holding	holding	NOUN
gujaf-42	166	16	of	of	ADP
gujaf-42	166	17	listed	list	VERB
gujaf-42	166	18	manufacturing	manufacturing	NOUN
gujaf-42	166	19	firms	firm	NOUN
gujaf-42	166	20	is	be	AUX
gujaf-42	166	21	negative	negative	ADJ
gujaf-42	166	22	as	as	SCONJ
gujaf-42	166	23	indicated	indicate	VERB
gujaf-42	166	24	with	with	ADP
gujaf-42	166	25	the	the	DET
gujaf-42	166	26	coefficient	coefficient	NOUN
gujaf-42	166	27	of	of	ADP
gujaf-42	166	28	0.097	0.097	NUM
gujaf-42	166	29	,	,	PUNCT
gujaf-42	166	30	and	and	CCONJ
gujaf-42	166	31	it	it	PRON
gujaf-42	166	32	is	be	AUX
gujaf-42	166	33	statistically	statistically	ADV
gujaf-42	166	34	insignificant	insignificant	ADJ
gujaf-42	166	35	as	as	SCONJ
gujaf-42	166	36	proven	prove	VERB
gujaf-42	166	37	with	with	ADP
gujaf-42	166	38	the	the	DET
gujaf-42	166	39	p	p	NOUN
gujaf-42	166	40	-	-	PUNCT
gujaf-42	166	41	value	value	NOUN
gujaf-42	166	42	of	of	ADP
gujaf-42	166	43	0.002	0.002	NUM
gujaf-42	166	44	.	.	PUNCT
gujaf-42	167	1	this	this	PRON
gujaf-42	167	2	implies	imply	VERB
gujaf-42	167	3	that	that	SCONJ
gujaf-42	167	4	it	it	PRON
gujaf-42	167	5	has	have	AUX
gujaf-42	167	6	contributed	contribute	VERB
gujaf-42	167	7	significantly	significantly	ADV
gujaf-42	167	8	to	to	PART
gujaf-42	167	9	cash	cash	VERB
gujaf-42	167	10	holding	holding	NOUN
gujaf-42	167	11	at	at	ADP
gujaf-42	167	12	the	the	DET
gujaf-42	167	13	rate	rate	NOUN
gujaf-42	167	14	of	of	ADP
gujaf-42	167	15	1	1	NUM
gujaf-42	167	16	%	%	NOUN
gujaf-42	167	17	level	level	NOUN
gujaf-42	167	18	of	of	ADP
gujaf-42	167	19	significant	significant	ADJ
gujaf-42	167	20	.	.	PUNCT
gujaf-42	168	1	on	on	ADP
gujaf-42	168	2	this	this	DET
gujaf-42	168	3	note	note	NOUN
gujaf-42	168	4	,	,	PUNCT
gujaf-42	168	5	we	we	PRON
gujaf-42	168	6	reject	reject	VERB
gujaf-42	168	7	null	null	ADJ
gujaf-42	168	8	hypothesis	hypothesis	NOUN
gujaf-42	168	9	which	which	PRON
gujaf-42	168	10	states	state	VERB
gujaf-42	168	11	that	that	SCONJ
gujaf-42	168	12	profitability	profitability	NOUN
gujaf-42	168	13	has	have	VERB
gujaf-42	168	14	no	no	DET
gujaf-42	168	15	significant	significant	ADJ
gujaf-42	168	16	effect	effect	NOUN
gujaf-42	168	17	on	on	ADP
gujaf-42	168	18	corporate	corporate	ADJ
gujaf-42	168	19	cash	cash	NOUN
gujaf-42	168	20	holding	holding	NOUN
gujaf-42	168	21	of	of	ADP
gujaf-42	168	22	listed	list	VERB
gujaf-42	168	23	manufacturing	manufacturing	NOUN
gujaf-42	168	24	firms	firm	NOUN
gujaf-42	168	25	in	in	ADP
gujaf-42	168	26	nigeria	nigeria	PROPN
gujaf-42	168	27	.	.	PUNCT
gujaf-42	169	1	this	this	DET
gujaf-42	169	2	finding	finding	NOUN
gujaf-42	169	3	conforms	conform	VERB
gujaf-42	169	4	with	with	ADP
gujaf-42	169	5	that	that	PRON
gujaf-42	169	6	of	of	ADP
gujaf-42	169	7	lawrencia	lawrencia	PROPN
gujaf-42	169	8	,	,	PUNCT
gujaf-42	169	9	sunday	sunday	PROPN
gujaf-42	169	10	,	,	PUNCT
gujaf-42	169	11	and	and	CCONJ
gujaf-42	169	12	ajao	ajao	NOUN
gujaf-42	169	13	(	(	PUNCT
gujaf-42	169	14	2012	2012	NUM
gujaf-42	169	15	)	)	PUNCT
gujaf-42	169	16	,	,	PUNCT
gujaf-42	169	17	who	who	PRON
gujaf-42	169	18	found	find	VERB
gujaf-42	169	19	significant	significant	ADJ
gujaf-42	169	20	relationship	relationship	NOUN
gujaf-42	169	21	between	between	ADP
gujaf-42	169	22	profitability	profitability	NOUN
gujaf-42	169	23	and	and	CCONJ
gujaf-42	169	24	cash	cash	NOUN
gujaf-42	169	25	holding	holding	NOUN
gujaf-42	169	26	.	.	PUNCT
gujaf-42	170	1	on	on	ADP
gujaf-42	170	2	the	the	DET
gujaf-42	170	3	contrary	contrary	NOUN
gujaf-42	170	4	,	,	PUNCT
gujaf-42	170	5	there	there	PRON
gujaf-42	170	6	exists	exist	VERB
gujaf-42	170	7	negative	negative	ADJ
gujaf-42	170	8	and	and	CCONJ
gujaf-42	170	9	significant	significant	ADJ
gujaf-42	170	10	relationship	relationship	NOUN
gujaf-42	170	11	between	between	ADP
gujaf-42	170	12	leverage	leverage	NOUN
gujaf-42	170	13	(	(	PUNCT
gujaf-42	170	14	lev	lev	NOUN
gujaf-42	170	15	)	)	PUNCT
gujaf-42	170	16	and	and	CCONJ
gujaf-42	170	17	corporate	corporate	ADJ
gujaf-42	170	18	cash	cash	NOUN
gujaf-42	170	19	holding	holding	NOUN
gujaf-42	170	20	(	(	PUNCT
gujaf-42	170	21	cch	cch	NOUN
gujaf-42	170	22	)	)	PUNCT
gujaf-42	170	23	as	as	SCONJ
gujaf-42	170	24	indicated	indicate	VERB
gujaf-42	170	25	statistically	statistically	ADV
gujaf-42	170	26	by	by	ADP
gujaf-42	170	27	the	the	DET
gujaf-42	170	28	coefficient	coefficient	NOUN
gujaf-42	170	29	of	of	ADP
gujaf-42	170	30	-0.588	-0.588	PUNCT
gujaf-42	170	31	with	with	ADP
gujaf-42	170	32	the	the	DET
gujaf-42	170	33	p	p	NOUN
gujaf-42	170	34	-	-	PUNCT
gujaf-42	170	35	value	value	NOUN
gujaf-42	170	36	of	of	ADP
gujaf-42	170	37	0.000	0.000	NUM
gujaf-42	170	38	,	,	PUNCT
gujaf-42	170	39	which	which	PRON
gujaf-42	170	40	is	be	AUX
gujaf-42	170	41	at	at	ADP
gujaf-42	170	42	1	1	NUM
gujaf-42	170	43	%	%	NOUN
gujaf-42	170	44	level	level	NOUN
gujaf-42	170	45	of	of	ADP
gujaf-42	170	46	significance	significance	NOUN
gujaf-42	170	47	.	.	PUNCT
gujaf-42	171	1	it	it	PRON
gujaf-42	171	2	means	mean	VERB
gujaf-42	171	3	increase	increase	NOUN
gujaf-42	171	4	in	in	ADP
gujaf-42	171	5	leverage	leverage	NOUN
gujaf-42	171	6	will	will	AUX
gujaf-42	171	7	result	result	VERB
gujaf-42	171	8	to	to	PART
gujaf-42	171	9	decrease	decrease	VERB
gujaf-42	171	10	in	in	ADP
gujaf-42	171	11	corporate	corporate	ADJ
gujaf-42	171	12	cash	cash	NOUN
gujaf-42	171	13	holding	holding	NOUN
gujaf-42	171	14	.	.	PUNCT
gujaf-42	172	1	this	this	PRON
gujaf-42	172	2	is	be	AUX
gujaf-42	172	3	because	because	SCONJ
gujaf-42	172	4	high	high	ADJ
gujaf-42	172	5	leverage	leverage	NOUN
gujaf-42	172	6	gets	get	VERB
gujaf-42	172	7	a	a	DET
gujaf-42	172	8	high	high	ADJ
gujaf-42	172	9	return	return	NOUN
gujaf-42	172	10	on	on	ADP
gujaf-42	172	11	investment	investment	NOUN
gujaf-42	172	12	and	and	CCONJ
gujaf-42	172	13	high	high	ADJ
gujaf-42	172	14	-	-	PUNCT
gujaf-42	172	15	interest	interest	NOUN
gujaf-42	172	16	costs	cost	NOUN
gujaf-42	172	17	,	,	PUNCT
gujaf-42	172	18	this	this	DET
gujaf-42	172	19	lead	lead	NOUN
gujaf-42	172	20	to	to	PART
gujaf-42	172	21	reduce	reduce	VERB
gujaf-42	172	22	their	their	PRON
gujaf-42	172	23	ability	ability	NOUN
gujaf-42	172	24	to	to	PART
gujaf-42	172	25	hold	hold	VERB
gujaf-42	172	26	cash	cash	NOUN
gujaf-42	172	27	.	.	PUNCT
gujaf-42	173	1	in	in	ADP
gujaf-42	173	2	addition	addition	NOUN
gujaf-42	173	3	,	,	PUNCT
gujaf-42	173	4	when	when	SCONJ
gujaf-42	173	5	companies	company	NOUN
gujaf-42	173	6	have	have	VERB
gujaf-42	173	7	a	a	DET
gujaf-42	173	8	good	good	ADJ
gujaf-42	173	9	credit	credit	NOUN
gujaf-42	173	10	policy	policy	NOUN
gujaf-42	173	11	tend	tend	VERB
gujaf-42	173	12	to	to	PART
gujaf-42	173	13	expand	expand	VERB
gujaf-42	173	14	their	their	PRON
gujaf-42	173	15	business	business	NOUN
gujaf-42	173	16	,	,	PUNCT
gujaf-42	173	17	they	they	PRON
gujaf-42	173	18	will	will	AUX
gujaf-42	173	19	use	use	VERB
gujaf-42	173	20	retained	retain	VERB
gujaf-42	173	21	earnings	earning	NOUN
gujaf-42	173	22	to	to	PART
gujaf-42	173	23	reinvest	reinvest	VERB
gujaf-42	173	24	this	this	DET
gujaf-42	173	25	lead	lead	NOUN
gujaf-42	173	26	to	to	PART
gujaf-42	173	27	reduce	reduce	VERB
gujaf-42	173	28	their	their	PRON
gujaf-42	173	29	cash	cash	NOUN
gujaf-42	173	30	and	and	CCONJ
gujaf-42	173	31	cash	cash	NOUN
gujaf-42	173	32	equivalent	equivalent	NOUN
gujaf-42	173	33	.	.	PUNCT
gujaf-42	174	1	this	this	DET
gujaf-42	174	2	finding	finding	NOUN
gujaf-42	174	3	supports	support	VERB
gujaf-42	174	4	the	the	DET
gujaf-42	174	5	proposition	proposition	NOUN
gujaf-42	174	6	of	of	ADP
gujaf-42	174	7	free	free	ADJ
gujaf-42	174	8	trade	trade	NOUN
gujaf-42	174	9	-	-	PUNCT
gujaf-42	174	10	off	off	ADP
gujaf-42	174	11	theory	theory	NOUN
gujaf-42	174	12	and	and	CCONJ
gujaf-42	174	13	the	the	DET
gujaf-42	174	14	findings	finding	NOUN
gujaf-42	174	15	of	of	ADP
gujaf-42	174	16	guney	guney	PROPN
gujaf-42	174	17	et	et	PROPN
gujaf-42	174	18	al	al	PROPN
gujaf-42	174	19	.	.	PUNCT
gujaf-42	175	1	(	(	PUNCT
gujaf-42	175	2	2007	2007	NUM
gujaf-42	175	3	)	)	PUNCT
gujaf-42	175	4	barasa	barasa	PROPN
gujaf-42	175	5	,	,	PUNCT
gujaf-42	175	6	et	et	PROPN
gujaf-42	175	7	al	al	PROPN
gujaf-42	175	8	.	.	PROPN
gujaf-42	175	9	,	,	PUNCT
gujaf-42	175	10	(	(	PUNCT
gujaf-42	175	11	2018	2018	NUM
gujaf-42	175	12	)	)	PUNCT
gujaf-42	175	13	gill	gill	NOUN
gujaf-42	175	14	et	et	PROPN
gujaf-42	175	15	al	al	PROPN
gujaf-42	175	16	.	.	PROPN
gujaf-42	175	17	,	,	PUNCT
gujaf-42	175	18	(	(	PUNCT
gujaf-42	175	19	2011	2011	NUM
gujaf-42	175	20	)	)	PUNCT
gujaf-42	175	21	magerakis	magerakis	PROPN
gujaf-42	175	22	et	et	PROPN
gujaf-42	175	23	al	al	PROPN
gujaf-42	175	24	.	.	PROPN
gujaf-42	175	25	,	,	PUNCT
gujaf-42	175	26	(	(	PUNCT
gujaf-42	175	27	2015	2015	NUM
gujaf-42	175	28	)	)	PUNCT
gujaf-42	175	29	.	.	PUNCT
gujaf-42	176	1	on	on	ADP
gujaf-42	176	2	this	this	DET
gujaf-42	176	3	basis	basis	NOUN
gujaf-42	176	4	,	,	PUNCT
gujaf-42	176	5	we	we	PRON
gujaf-42	176	6	therefore	therefore	ADV
gujaf-42	176	7	support	support	VERB
gujaf-42	176	8	the	the	DET
gujaf-42	176	9	alternate	alternate	ADJ
gujaf-42	176	10	hypothesis	hypothesis	NOUN
gujaf-42	176	11	,	,	PUNCT
gujaf-42	176	12	which	which	PRON
gujaf-42	176	13	states	state	VERB
gujaf-42	176	14	that	that	SCONJ
gujaf-42	176	15	growth	growth	NOUN
gujaf-42	176	16	opportunity	opportunity	NOUN
gujaf-42	176	17	has	have	VERB
gujaf-42	176	18	a	a	DET
gujaf-42	176	19	significant	significant	ADJ
gujaf-42	176	20	positive	positive	ADJ
gujaf-42	176	21	effect	effect	NOUN
gujaf-42	176	22	on	on	ADP
gujaf-42	176	23	corporate	corporate	ADJ
gujaf-42	176	24	cash	cash	NOUN
gujaf-42	176	25	holding	holding	NOUN
gujaf-42	176	26	of	of	ADP
gujaf-42	176	27	listed	list	VERB
gujaf-42	176	28	manufacturing	manufacturing	NOUN
gujaf-42	176	29	firms	firm	NOUN
gujaf-42	176	30	in	in	ADP
gujaf-42	176	31	nigeria	nigeria	PROPN
gujaf-42	176	32	.	.	PUNCT
gujaf-42	177	1	from	from	ADP
gujaf-42	177	2	the	the	DET
gujaf-42	177	3	regression	regression	NOUN
gujaf-42	177	4	result	result	NOUN
gujaf-42	177	5	,	,	PUNCT
gujaf-42	177	6	the	the	DET
gujaf-42	177	7	coefficient	coefficient	NOUN
gujaf-42	177	8	value	value	NOUN
gujaf-42	177	9	of	of	ADP
gujaf-42	177	10	networking	network	VERB
gujaf-42	177	11	capital	capital	NOUN
gujaf-42	177	12	(	(	PUNCT
gujaf-42	177	13	ntwc	ntwc	NOUN
gujaf-42	177	14	)	)	PUNCT
gujaf-42	177	15	is	be	AUX
gujaf-42	177	16	4.235	4.235	NUM
gujaf-42	177	17	with	with	ADP
gujaf-42	177	18	the	the	DET
gujaf-42	177	19	p	p	NOUN
gujaf-42	177	20	-	-	PUNCT
gujaf-42	177	21	value	value	NOUN
gujaf-42	177	22	of	of	ADP
gujaf-42	177	23	0.000	0.000	NUM
gujaf-42	177	24	.	.	PUNCT
gujaf-42	178	1	the	the	DET
gujaf-42	178	2	implication	implication	NOUN
gujaf-42	178	3	is	be	AUX
gujaf-42	178	4	that	that	SCONJ
gujaf-42	178	5	there	there	PRON
gujaf-42	178	6	is	be	VERB
gujaf-42	178	7	a	a	DET
gujaf-42	178	8	positive	positive	ADJ
gujaf-42	178	9	and	and	CCONJ
gujaf-42	178	10	significant	significant	ADJ
gujaf-42	178	11	relationship	relationship	NOUN
gujaf-42	178	12	between	between	ADP
gujaf-42	178	13	networking	network	VERB
gujaf-42	178	14	capital	capital	NOUN
gujaf-42	178	15	and	and	CCONJ
gujaf-42	178	16	corporate	corporate	ADJ
gujaf-42	178	17	cash	cash	NOUN
gujaf-42	178	18	holding	holding	NOUN
gujaf-42	178	19	of	of	ADP
gujaf-42	178	20	listed	list	VERB
gujaf-42	178	21	manufacturing	manufacturing	NOUN
gujaf-42	178	22	firms	firm	NOUN
gujaf-42	178	23	in	in	ADP
gujaf-42	178	24	nigeria	nigeria	PROPN
gujaf-42	178	25	.	.	PUNCT
gujaf-42	179	1	this	this	PRON
gujaf-42	179	2	implies	imply	VERB
gujaf-42	179	3	that	that	PRON
gujaf-42	179	4	increase	increase	NOUN
gujaf-42	179	5	in	in	ADP
gujaf-42	179	6	networking	network	VERB
gujaf-42	179	7	capital	capital	NOUN
gujaf-42	179	8	will	will	AUX
gujaf-42	179	9	result	result	VERB
gujaf-42	179	10	to	to	PART
gujaf-42	179	11	increase	increase	VERB
gujaf-42	179	12	in	in	ADP
gujaf-42	179	13	corporate	corporate	ADJ
gujaf-42	179	14	cash	cash	NOUN
gujaf-42	179	15	holding	holding	NOUN
gujaf-42	179	16	.	.	PUNCT
gujaf-42	180	1	this	this	PRON
gujaf-42	180	2	is	be	AUX
gujaf-42	180	3	because	because	SCONJ
gujaf-42	180	4	when	when	SCONJ
gujaf-42	180	5	networking	network	VERB
gujaf-42	180	6	capital	capital	NOUN
gujaf-42	180	7	changes	change	NOUN
gujaf-42	180	8	,	,	PUNCT
gujaf-42	180	9	cash	cash	NOUN
gujaf-42	180	10	can	can	AUX
gujaf-42	180	11	effectively	effectively	ADV
gujaf-42	180	12	get	get	VERB
gujaf-42	180	13	rid	rid	VERB
gujaf-42	180	14	of	of	ADP
gujaf-42	180	15	financial	financial	ADJ
gujaf-42	180	16	crisis	crisis	NOUN
gujaf-42	180	17	,	,	PUNCT
gujaf-42	180	18	smooth	smooth	ADJ
gujaf-42	180	19	and	and	CCONJ
gujaf-42	180	20	enough	enough	ADJ
gujaf-42	180	21	networking	network	VERB
gujaf-42	180	22	capital	capital	NOUN
gujaf-42	180	23	keeps	keep	VERB
gujaf-42	180	24	enterprises	enterprise	NOUN
gujaf-42	180	25	run	run	VERB
gujaf-42	180	26	well	well	ADV
gujaf-42	180	27	.	.	PUNCT
gujaf-42	181	1	this	this	DET
gujaf-42	181	2	finding	finding	NOUN
gujaf-42	181	3	supports	support	VERB
gujaf-42	181	4	the	the	DET
gujaf-42	181	5	findings	finding	NOUN
gujaf-42	181	6	of	of	ADP
gujaf-42	181	7	islam(2012	islam(2012	PROPN
gujaf-42	181	8	)	)	PUNCT
gujaf-42	181	9	and	and	CCONJ
gujaf-42	181	10	lawrencia	lawrencia	NOUN
gujaf-42	181	11	,	,	PUNCT
gujaf-42	181	12	sunday	sunday	PROPN
gujaf-42	181	13	,	,	PUNCT
gujaf-42	181	14	and	and	CCONJ
gujaf-42	181	15	ajao	ajao	NOUN
gujaf-42	181	16	(	(	PUNCT
gujaf-42	181	17	2012	2012	NUM
gujaf-42	181	18	)	)	PUNCT
gujaf-42	181	19	,	,	PUNCT
gujaf-42	181	20	who	who	PRON
gujaf-42	181	21	found	find	VERB
gujaf-42	181	22	gusau	gusau	ADJ
gujaf-42	181	23	journal	journal	NOUN
gujaf-42	181	24	of	of	ADP
gujaf-42	181	25	accounting	accounting	NOUN
gujaf-42	181	26	and	and	CCONJ
gujaf-42	181	27	finance	finance	NOUN
gujaf-42	181	28	,	,	PUNCT
gujaf-42	181	29	vol	vol	NOUN
gujaf-42	181	30	.	.	PUNCT
gujaf-42	182	1	i	i	PRON
gujaf-42	182	2	,	,	PUNCT
gujaf-42	182	3	issue	issue	NOUN
gujaf-42	182	4	2	2	NUM
gujaf-42	182	5	,	,	PUNCT
gujaf-42	182	6	october	october	PROPN
gujaf-42	182	7	,	,	PUNCT
gujaf-42	182	8	2020	2020	NUM
gujaf-42	182	9	13	13	NUM
gujaf-42	182	10	significant	significant	ADJ
gujaf-42	182	11	relationship	relationship	NOUN
gujaf-42	182	12	between	between	ADP
gujaf-42	182	13	networking	network	VERB
gujaf-42	182	14	capital	capital	NOUN
gujaf-42	182	15	and	and	CCONJ
gujaf-42	182	16	cash	cash	NOUN
gujaf-42	182	17	holding	holding	NOUN
gujaf-42	182	18	.	.	PUNCT
gujaf-42	183	1	on	on	ADP
gujaf-42	183	2	this	this	DET
gujaf-42	183	3	basis	basis	NOUN
gujaf-42	183	4	,	,	PUNCT
gujaf-42	183	5	we	we	PRON
gujaf-42	183	6	therefore	therefore	ADV
gujaf-42	183	7	support	support	VERB
gujaf-42	183	8	the	the	DET
gujaf-42	183	9	alternate	alternate	ADJ
gujaf-42	183	10	hypothesis	hypothesis	NOUN
gujaf-42	183	11	,	,	PUNCT
gujaf-42	183	12	which	which	PRON
gujaf-42	183	13	states	state	VERB
gujaf-42	183	14	that	that	SCONJ
gujaf-42	183	15	networking	network	VERB
gujaf-42	183	16	capital	capital	NOUN
gujaf-42	183	17	has	have	VERB
gujaf-42	183	18	a	a	DET
gujaf-42	183	19	significant	significant	ADJ
gujaf-42	183	20	effect	effect	NOUN
gujaf-42	183	21	on	on	ADP
gujaf-42	183	22	corporate	corporate	ADJ
gujaf-42	183	23	cash	cash	NOUN
gujaf-42	183	24	holding	holding	NOUN
gujaf-42	183	25	of	of	ADP
gujaf-42	183	26	listed	list	VERB
gujaf-42	183	27	manufacturing	manufacturing	NOUN
gujaf-42	183	28	firms	firm	NOUN
gujaf-42	183	29	in	in	ADP
gujaf-42	183	30	nigeria	nigeria	PROPN
gujaf-42	183	31	.	.	PUNCT
gujaf-42	184	1	finally	finally	ADV
gujaf-42	184	2	,	,	PUNCT
gujaf-42	184	3	the	the	DET
gujaf-42	184	4	result	result	NOUN
gujaf-42	184	5	revealed	reveal	VERB
gujaf-42	184	6	insignificant	insignificant	ADJ
gujaf-42	184	7	and	and	CCONJ
gujaf-42	184	8	negative	negative	ADJ
gujaf-42	184	9	relationship	relationship	NOUN
gujaf-42	184	10	between	between	ADP
gujaf-42	184	11	capex	capex	NOUN
gujaf-42	184	12	and	and	CCONJ
gujaf-42	184	13	corporate	corporate	ADJ
gujaf-42	184	14	cash	cash	NOUN
gujaf-42	184	15	holding	holding	NOUN
gujaf-42	184	16	.	.	PUNCT
gujaf-42	185	1	this	this	PRON
gujaf-42	185	2	is	be	AUX
gujaf-42	185	3	statistically	statistically	ADV
gujaf-42	185	4	proven	prove	VERB
gujaf-42	185	5	by	by	ADP
gujaf-42	185	6	the	the	DET
gujaf-42	185	7	coefficient	coefficient	NOUN
gujaf-42	185	8	of	of	ADP
gujaf-42	185	9	0.207	0.207	NUM
gujaf-42	185	10	with	with	ADP
gujaf-42	185	11	the	the	DET
gujaf-42	185	12	p	p	NOUN
gujaf-42	185	13	-	-	PUNCT
gujaf-42	185	14	value	value	NOUN
gujaf-42	185	15	of	of	ADP
gujaf-42	185	16	0.164	0.164	NUM
gujaf-42	185	17	;	;	PUNCT
gujaf-42	185	18	this	this	DET
gujaf-42	185	19	result	result	NOUN
gujaf-42	185	20	is	be	AUX
gujaf-42	185	21	against	against	ADP
gujaf-42	185	22	our	our	PRON
gujaf-42	185	23	apriori	apriori	ADJ
gujaf-42	185	24	knowledge	knowledge	NOUN
gujaf-42	185	25	and	and	CCONJ
gujaf-42	185	26	the	the	DET
gujaf-42	185	27	reviewed	review	VERB
gujaf-42	185	28	literatures	literature	NOUN
gujaf-42	185	29	.	.	PUNCT
gujaf-42	186	1	however	however	ADV
gujaf-42	186	2	,	,	PUNCT
gujaf-42	186	3	we	we	PRON
gujaf-42	186	4	fail	fail	VERB
gujaf-42	186	5	to	to	PART
gujaf-42	186	6	reject	reject	VERB
gujaf-42	186	7	null	null	ADJ
gujaf-42	186	8	hypothesis	hypothesis	NOUN
gujaf-42	186	9	which	which	DET
gujaf-42	186	10	state	state	VERB
gujaf-42	186	11	that	that	SCONJ
gujaf-42	186	12	,	,	PUNCT
gujaf-42	186	13	capex	capex	PROPN
gujaf-42	186	14	has	have	VERB
gujaf-42	186	15	no	no	DET
gujaf-42	186	16	significant	significant	ADJ
gujaf-42	186	17	effect	effect	NOUN
gujaf-42	186	18	on	on	ADP
gujaf-42	186	19	corporate	corporate	ADJ
gujaf-42	186	20	cash	cash	NOUN
gujaf-42	186	21	holding	holding	NOUN
gujaf-42	186	22	of	of	ADP
gujaf-42	186	23	listed	list	VERB
gujaf-42	186	24	manufacturing	manufacturing	NOUN
gujaf-42	186	25	firms	firm	NOUN
gujaf-42	186	26	in	in	ADP
gujaf-42	186	27	nigeria	nigeria	PROPN
gujaf-42	186	28	.	.	PUNCT
gujaf-42	187	1	5.0	5.0	NUM
gujaf-42	187	2	conclusion	conclusion	NOUN
gujaf-42	187	3	and	and	CCONJ
gujaf-42	187	4	recommendation	recommendation	VERB
gujaf-42	187	5	corporate	corporate	ADJ
gujaf-42	187	6	cash	cash	NOUN
gujaf-42	187	7	assets	asset	NOUN
gujaf-42	187	8	represent	represent	VERB
gujaf-42	187	9	a	a	DET
gujaf-42	187	10	major	major	ADJ
gujaf-42	187	11	accounting	accounting	NOUN
gujaf-42	187	12	problem	problem	NOUN
gujaf-42	187	13	so	so	SCONJ
gujaf-42	187	14	the	the	DET
gujaf-42	187	15	funding	funding	NOUN
gujaf-42	187	16	and	and	CCONJ
gujaf-42	187	17	massive	massive	ADJ
gujaf-42	187	18	discussions	discussion	NOUN
gujaf-42	187	19	among	among	ADP
gujaf-42	187	20	academics	academic	NOUN
gujaf-42	187	21	were	be	AUX
gujaf-42	187	22	a	a	DET
gujaf-42	187	23	concern	concern	NOUN
gujaf-42	187	24	.	.	PUNCT
gujaf-42	188	1	the	the	DET
gujaf-42	188	2	aim	aim	NOUN
gujaf-42	188	3	of	of	ADP
gujaf-42	188	4	this	this	DET
gujaf-42	188	5	study	study	NOUN
gujaf-42	188	6	is	be	AUX
gujaf-42	188	7	to	to	PART
gujaf-42	188	8	present	present	VERB
gujaf-42	188	9	new	new	ADJ
gujaf-42	188	10	empirical	empirical	ADJ
gujaf-42	188	11	evidence	evidence	NOUN
gujaf-42	188	12	on	on	ADP
gujaf-42	188	13	the	the	DET
gujaf-42	188	14	effect	effect	NOUN
gujaf-42	188	15	of	of	ADP
gujaf-42	188	16	company	company	NOUN
gujaf-42	188	17	properties	property	NOUN
gujaf-42	188	18	on	on	ADP
gujaf-42	188	19	corporate	corporate	ADJ
gujaf-42	188	20	cash	cash	NOUN
gujaf-42	188	21	holdings	holding	NOUN
gujaf-42	188	22	in	in	ADP
gujaf-42	188	23	the	the	DET
gujaf-42	188	24	sense	sense	NOUN
gujaf-42	188	25	of	of	ADP
gujaf-42	188	26	nigeria	nigeria	PROPN
gujaf-42	188	27	.	.	PUNCT
gujaf-42	189	1	data	datum	NOUN
gujaf-42	189	2	was	be	AUX
gujaf-42	189	3	used	use	VERB
gujaf-42	189	4	from	from	ADP
gujaf-42	189	5	a	a	DET
gujaf-42	189	6	sample	sample	NOUN
gujaf-42	189	7	of	of	ADP
gujaf-42	189	8	35	35	NUM
gujaf-42	189	9	manufacturing	manufacturing	NOUN
gujaf-42	189	10	firms	firm	NOUN
gujaf-42	189	11	listed	list	VERB
gujaf-42	189	12	on	on	ADP
gujaf-42	189	13	the	the	DET
gujaf-42	189	14	nigeria	nigeria	PROPN
gujaf-42	189	15	stock	stock	PROPN
gujaf-42	189	16	exchange	exchange	PROPN
gujaf-42	189	17	from	from	ADP
gujaf-42	189	18	2012	2012	NUM
gujaf-42	189	19	to	to	ADP
gujaf-42	189	20	2019	2019	NUM
gujaf-42	189	21	.	.	PUNCT
gujaf-42	190	1	the	the	DET
gujaf-42	190	2	data	datum	NOUN
gujaf-42	190	3	were	be	AUX
gujaf-42	190	4	interpreted	interpret	VERB
gujaf-42	190	5	using	use	VERB
gujaf-42	190	6	multiple	multiple	ADJ
gujaf-42	190	7	regression	regression	NOUN
gujaf-42	190	8	models	model	NOUN
gujaf-42	190	9	.	.	PUNCT
gujaf-42	191	1	the	the	DET
gujaf-42	191	2	results	result	NOUN
gujaf-42	191	3	obtained	obtain	VERB
gujaf-42	191	4	in	in	ADP
gujaf-42	191	5	this	this	DET
gujaf-42	191	6	study	study	NOUN
gujaf-42	191	7	are	be	AUX
gujaf-42	191	8	consistent	consistent	ADJ
gujaf-42	191	9	with	with	ADP
gujaf-42	191	10	the	the	DET
gujaf-42	191	11	scientific	scientific	ADJ
gujaf-42	191	12	data	datum	NOUN
gujaf-42	191	13	about	about	ADP
gujaf-42	191	14	the	the	DET
gujaf-42	191	15	literature	literature	NOUN
gujaf-42	191	16	on	on	ADP
gujaf-42	191	17	corporate	corporate	ADJ
gujaf-42	191	18	cash	cash	NOUN
gujaf-42	191	19	possession	possession	NOUN
gujaf-42	191	20	.	.	PUNCT
gujaf-42	192	1	our	our	PRON
gujaf-42	192	2	study	study	NOUN
gujaf-42	192	3	concludes	conclude	VERB
gujaf-42	192	4	,	,	PUNCT
gujaf-42	192	5	profitability	profitability	NOUN
gujaf-42	192	6	,	,	PUNCT
gujaf-42	192	7	leverage	leverage	NOUN
gujaf-42	192	8	and	and	CCONJ
gujaf-42	192	9	networking	network	VERB
gujaf-42	192	10	capital	capital	NOUN
gujaf-42	192	11	are	be	AUX
gujaf-42	192	12	good	good	ADJ
gujaf-42	192	13	determinants	determinant	NOUN
gujaf-42	192	14	of	of	ADP
gujaf-42	192	15	corporate	corporate	ADJ
gujaf-42	192	16	cash	cash	NOUN
gujaf-42	192	17	holding	holding	NOUN
gujaf-42	192	18	.	.	PUNCT
gujaf-42	193	1	in	in	ADP
gujaf-42	193	2	line	line	NOUN
gujaf-42	193	3	with	with	ADP
gujaf-42	193	4	the	the	DET
gujaf-42	193	5	findings	finding	NOUN
gujaf-42	193	6	,	,	PUNCT
gujaf-42	193	7	the	the	DET
gujaf-42	193	8	study	study	NOUN
gujaf-42	193	9	therefore	therefore	ADV
gujaf-42	193	10	recommends	recommend	VERB
gujaf-42	193	11	that	that	SCONJ
gujaf-42	193	12	,	,	PUNCT
gujaf-42	193	13	managers	manager	NOUN
gujaf-42	193	14	must	must	AUX
gujaf-42	193	15	rationally	rationally	ADV
gujaf-42	193	16	assume	assume	VERB
gujaf-42	193	17	that	that	SCONJ
gujaf-42	193	18	a	a	DET
gujaf-42	193	19	company	company	NOUN
gujaf-42	193	20	with	with	ADP
gujaf-42	193	21	excessive	excessive	ADJ
gujaf-42	193	22	short	short	ADJ
gujaf-42	193	23	asset	asset	NOUN
gujaf-42	193	24	replacements	replacement	NOUN
gujaf-42	193	25	,	,	PUNCT
gujaf-42	193	26	high	high	ADJ
gujaf-42	193	27	debt	debt	NOUN
gujaf-42	193	28	,	,	PUNCT
gujaf-42	193	29	and	and	CCONJ
gujaf-42	193	30	a	a	DET
gujaf-42	193	31	capital	capital	NOUN
gujaf-42	193	32	rate	rate	NOUN
gujaf-42	193	33	should	should	AUX
gujaf-42	193	34	maintain	maintain	VERB
gujaf-42	193	35	a	a	DET
gujaf-42	193	36	decrease	decrease	NOUN
gujaf-42	193	37	in	in	ADP
gujaf-42	193	38	cash	cash	NOUN
gujaf-42	193	39	.	.	PUNCT
gujaf-42	194	1	if	if	SCONJ
gujaf-42	194	2	for	for	ADP
gujaf-42	194	3	the	the	DET
gujaf-42	194	4	rare	rare	ADJ
gujaf-42	194	5	object	object	NOUN
gujaf-42	194	6	,	,	PUNCT
gujaf-42	194	7	a	a	DET
gujaf-42	194	8	company	company	NOUN
gujaf-42	194	9	with	with	ADP
gujaf-42	194	10	high	high	ADJ
gujaf-42	194	11	delegates	delegate	NOUN
gujaf-42	194	12	of	of	ADP
gujaf-42	194	13	quick	quick	ADJ
gujaf-42	194	14	assets	asset	NOUN
gujaf-42	194	15	,	,	PUNCT
gujaf-42	194	16	excessive	excessive	ADJ
gujaf-42	194	17	debt	debt	NOUN
gujaf-42	194	18	,	,	PUNCT
gujaf-42	194	19	and	and	CCONJ
gujaf-42	194	20	cost	cost	NOUN
gujaf-42	194	21	of	of	ADP
gujaf-42	194	22	equity	equity	NOUN
gujaf-42	194	23	has	have	VERB
gujaf-42	194	24	excessive	excessive	ADJ
gujaf-42	194	25	currency	currency	NOUN
gujaf-42	194	26	holdings	holding	NOUN
gujaf-42	194	27	,	,	PUNCT
gujaf-42	194	28	this	this	DET
gujaf-42	194	29	pressure	pressure	NOUN
gujaf-42	194	30	is	be	AUX
gujaf-42	194	31	a	a	DET
gujaf-42	194	32	flag	flag	NOUN
gujaf-42	194	33	of	of	ADP
gujaf-42	194	34	a	a	DET
gujaf-42	194	35	capacity	capacity	NOUN
gujaf-42	194	36	organizing	organize	VERB
gujaf-42	194	37	war	war	NOUN
gujaf-42	194	38	.	.	PUNCT
gujaf-42	195	1	nigerian	nigerian	ADJ
gujaf-42	195	2	manufacturing	manufacturing	NOUN
gujaf-42	195	3	firms	firm	NOUN
gujaf-42	195	4	should	should	AUX
gujaf-42	195	5	develop	develop	VERB
gujaf-42	195	6	a	a	DET
gujaf-42	195	7	good	good	ADJ
gujaf-42	195	8	strategy	strategy	NOUN
gujaf-42	195	9	for	for	ADP
gujaf-42	195	10	earning	earn	VERB
gujaf-42	195	11	high	high	ADJ
gujaf-42	195	12	returns	return	NOUN
gujaf-42	195	13	from	from	ADP
gujaf-42	195	14	their	their	PRON
gujaf-42	195	15	assets	asset	NOUN
gujaf-42	195	16	since	since	SCONJ
gujaf-42	195	17	this	this	PRON
gujaf-42	195	18	has	have	VERB
gujaf-42	195	19	positive	positive	ADJ
gujaf-42	195	20	significant	significant	ADJ
gujaf-42	195	21	effect	effect	NOUN
gujaf-42	195	22	on	on	ADP
gujaf-42	195	23	cash	cash	NOUN
gujaf-42	195	24	holdings	holding	NOUN
gujaf-42	195	25	.	.	PUNCT
gujaf-42	196	1	managers	manager	NOUN
gujaf-42	196	2	should	should	AUX
gujaf-42	196	3	avoid	avoid	VERB
gujaf-42	196	4	holding	hold	VERB
gujaf-42	196	5	excessive	excessive	ADJ
gujaf-42	196	6	cash	cash	NOUN
gujaf-42	196	7	reserves	reserve	NOUN
gujaf-42	196	8	as	as	SCONJ
gujaf-42	196	9	this	this	PRON
gujaf-42	196	10	might	might	AUX
gujaf-42	196	11	attract	attract	VERB
gujaf-42	196	12	scrutiny	scrutiny	NOUN
gujaf-42	196	13	from	from	ADP
gujaf-42	196	14	the	the	DET
gujaf-42	196	15	capital	capital	NOUN
gujaf-42	196	16	markets	market	NOUN
gujaf-42	196	17	.	.	PUNCT
gujaf-42	197	1	there	there	PRON
gujaf-42	197	2	should	should	AUX
gujaf-42	197	3	be	be	AUX
gujaf-42	197	4	an	an	DET
gujaf-42	197	5	optimal	optimal	ADJ
gujaf-42	197	6	trade	trade	NOUN
gujaf-42	197	7	-	-	PUNCT
gujaf-42	197	8	off	off	ADP
gujaf-42	197	9	approach	approach	NOUN
gujaf-42	197	10	to	to	ADP
gujaf-42	197	11	cash	cash	NOUN
gujaf-42	197	12	holdings	holding	NOUN
gujaf-42	197	13	,	,	PUNCT
gujaf-42	197	14	and	and	CCONJ
gujaf-42	197	15	also	also	ADV
gujaf-42	197	16	there	there	PRON
gujaf-42	197	17	should	should	AUX
gujaf-42	197	18	be	be	AUX
gujaf-42	197	19	a	a	DET
gujaf-42	197	20	hierarchy	hierarchy	NOUN
gujaf-42	197	21	explanation	explanation	NOUN
gujaf-42	197	22	for	for	ADP
gujaf-42	197	23	holding	hold	VERB
gujaf-42	197	24	excess	excess	ADJ
gujaf-42	197	25	cash	cash	NOUN
gujaf-42	197	26	.	.	PUNCT
gujaf-42	198	1	references	reference	NOUN
gujaf-42	198	2	afza	afza	VERB
gujaf-42	198	3	,	,	PUNCT
gujaf-42	198	4	t.	t.	PROPN
gujaf-42	198	5	,	,	PUNCT
gujaf-42	198	6	&	&	CCONJ
gujaf-42	198	7	adnan	adnan	PROPN
gujaf-42	198	8	,	,	PUNCT
gujaf-42	198	9	s.	s.	PROPN
gujaf-42	198	10	m.	m.	PROPN
gujaf-42	198	11	(	(	PUNCT
gujaf-42	198	12	2007	2007	NUM
gujaf-42	198	13	)	)	PUNCT
gujaf-42	198	14	.	.	PUNCT
gujaf-42	199	1	determinants	determinant	NOUN
gujaf-42	199	2	of	of	ADP
gujaf-42	199	3	corporate	corporate	ADJ
gujaf-42	199	4	cash	cash	NOUN
gujaf-42	199	5	holdings	holding	NOUN
gujaf-42	199	6	:	:	PUNCT
gujaf-42	199	7	a	a	DET
gujaf-42	199	8	case	case	NOUN
gujaf-42	199	9	study	study	NOUN
gujaf-42	199	10	of	of	ADP
gujaf-42	199	11	pakistan	pakistan	PROPN
gujaf-42	199	12	.	.	PUNCT
gujaf-42	200	1	in	in	ADP
gujaf-42	200	2	proceedings	proceeding	NOUN
gujaf-42	200	3	of	of	ADP
gujaf-42	200	4	singapore	singapore	PROPN
gujaf-42	200	5	economic	economic	PROPN
gujaf-42	200	6	review	review	PROPN
gujaf-42	200	7	conference	conference	NOUN
gujaf-42	200	8	(	(	PUNCT
gujaf-42	200	9	serc	serc	NOUN
gujaf-42	200	10	)	)	PUNCT
gujaf-42	200	11	.	.	PUNCT
gujaf-42	201	1	gusau	gusau	PROPN
gujaf-42	201	2	journal	journal	PROPN
gujaf-42	201	3	of	of	ADP
gujaf-42	201	4	accounting	accounting	NOUN
gujaf-42	201	5	and	and	CCONJ
gujaf-42	201	6	finance	finance	NOUN
gujaf-42	201	7	,	,	PUNCT
gujaf-42	201	8	vol	vol	NOUN
gujaf-42	201	9	.	.	PUNCT
gujaf-42	202	1	i	i	PRON
gujaf-42	202	2	,	,	PUNCT
gujaf-42	202	3	issue	issue	NOUN
gujaf-42	202	4	2	2	NUM
gujaf-42	202	5	,	,	PUNCT
gujaf-42	202	6	october	october	PROPN
gujaf-42	202	7	,	,	PUNCT
gujaf-42	202	8	2020	2020	NUM
gujaf-42	202	9	14	14	NUM
gujaf-42	202	10	almeida	almeida	PROPN
gujaf-42	202	11	,	,	PUNCT
gujaf-42	202	12	m.	m.	NOUN
gujaf-42	202	13	campello	campello	PROPN
gujaf-42	202	14	&	&	CCONJ
gujaf-42	202	15	m.	m.	PROPN
gujaf-42	202	16	weisbach,(2004	weisbach,(2004	PROPN
gujaf-42	202	17	)	)	PUNCT
gujaf-42	202	18	“	"	PUNCT
gujaf-42	202	19	the	the	DET
gujaf-42	202	20	cash	cash	NOUN
gujaf-42	202	21	flow	flow	NOUN
gujaf-42	202	22	sensitivity	sensitivity	NOUN
gujaf-42	202	23	of	of	ADP
gujaf-42	202	24	cash	cash	NOUN
gujaf-42	202	25	,	,	PUNCT
gujaf-42	202	26	”	"	PUNCT
gujaf-42	202	27	journal	journal	NOUN
gujaf-42	202	28	of	of	ADP
gujaf-42	202	29	finance	finance	NOUN
gujaf-42	202	30	,	,	PUNCT
gujaf-42	202	31	59(4)1777–1804	59(4)1777–1804	NUM
gujaf-42	202	32	.	.	PUNCT
gujaf-42	203	1	amess	amess	NOUN
gujaf-42	203	2	,	,	PUNCT
gujaf-42	203	3	k.	k.	PROPN
gujaf-42	203	4	,	,	PUNCT
gujaf-42	203	5	banerji	banerji	PROPN
gujaf-42	203	6	,	,	PUNCT
gujaf-42	203	7	s.	s.	PROPN
gujaf-42	203	8	,	,	PUNCT
gujaf-42	203	9	&	&	CCONJ
gujaf-42	203	10	lampousis	lampousis	NOUN
gujaf-42	203	11	,	,	PUNCT
gujaf-42	203	12	a.	a.	NOUN
gujaf-42	203	13	(	(	PUNCT
gujaf-42	203	14	2015	2015	NUM
gujaf-42	203	15	)	)	PUNCT
gujaf-42	203	16	.	.	PUNCT
gujaf-42	204	1	corporate	corporate	ADJ
gujaf-42	204	2	cash	cash	NOUN
gujaf-42	204	3	holdings	holding	NOUN
gujaf-42	204	4	:	:	PUNCT
gujaf-42	204	5	causes	cause	NOUN
gujaf-42	204	6	and	and	CCONJ
gujaf-42	204	7	consequences	consequence	NOUN
gujaf-42	204	8	.	.	PUNCT
gujaf-42	205	1	international	international	ADJ
gujaf-42	205	2	review	review	NOUN
gujaf-42	205	3	of	of	ADP
gujaf-42	205	4	financial	financial	ADJ
gujaf-42	205	5	analysis	analysis	NOUN
gujaf-42	205	6	,	,	PUNCT
gujaf-42	205	7	42	42	NUM
gujaf-42	205	8	,	,	PUNCT
gujaf-42	205	9	421	421	NUM
gujaf-42	205	10	-	-	SYM
gujaf-42	205	11	433	433	NUM
gujaf-42	205	12	.	.	PUNCT
gujaf-42	206	1	https://doi.org/10.1016/j.irfa.2015.09.007	https://doi.org/10.1016/j.irfa.2015.09.007	PROPN
gujaf-42	206	2	barasa	barasa	PROPN
gujaf-42	206	3	,	,	PUNCT
gujaf-42	206	4	c.	c.	PROPN
gujaf-42	206	5	,	,	PUNCT
gujaf-42	206	6	achoki	achoki	PROPN
gujaf-42	206	7	,	,	PUNCT
gujaf-42	206	8	g.	g.	PROPN
gujaf-42	206	9	,	,	PUNCT
gujaf-42	206	10	&	&	CCONJ
gujaf-42	206	11	njuguna	njuguna	PROPN
gujaf-42	206	12	,	,	PUNCT
gujaf-42	206	13	a.	a.	NOUN
gujaf-42	206	14	(	(	PUNCT
gujaf-42	206	15	2018	2018	NUM
gujaf-42	206	16	)	)	PUNCT
gujaf-42	206	17	.	.	PUNCT
gujaf-42	207	1	determinants	determinant	NOUN
gujaf-42	207	2	of	of	ADP
gujaf-42	207	3	corporate	corporate	ADJ
gujaf-42	207	4	cash	cash	NOUN
gujaf-42	207	5	holding	holding	NOUN
gujaf-42	207	6	of	of	ADP
gujaf-42	207	7	non	non	ADJ
gujaf-42	207	8	-	-	ADJ
gujaf-42	207	9	financial	financial	ADJ
gujaf-42	207	10	firms	firm	NOUN
gujaf-42	207	11	listed	list	VERB
gujaf-42	207	12	on	on	ADP
gujaf-42	207	13	the	the	DET
gujaf-42	207	14	nairobi	nairobi	PROPN
gujaf-42	207	15	securities	securities	PROPN
gujaf-42	207	16	exchange	exchange	PROPN
gujaf-42	207	17	,	,	PUNCT
gujaf-42	207	18	13(9	13(9	NUM
gujaf-42	207	19	)	)	PUNCT
gujaf-42	207	20	,	,	PUNCT
gujaf-42	207	21	222–235	222–235	NUM
gujaf-42	207	22	.	.	PUNCT
gujaf-42	207	23	https://doi.org/10.5539/ijbm.v13n9p222	https://doi.org/10.5539/ijbm.v13n9p222	NOUN
gujaf-42	207	24	barasa	barasa	PROPN
gujaf-42	207	25	,	,	PUNCT
gujaf-42	207	26	c.	c.	PROPN
gujaf-42	207	27	,	,	PUNCT
gujaf-42	207	28	achoki	achoki	PROPN
gujaf-42	207	29	,	,	PUNCT
gujaf-42	207	30	g.	g.	PROPN
gujaf-42	207	31	,	,	PUNCT
gujaf-42	207	32	&	&	CCONJ
gujaf-42	207	33	njuguna	njuguna	PROPN
gujaf-42	207	34	,	,	PUNCT
gujaf-42	207	35	a.	a.	NOUN
gujaf-42	207	36	(	(	PUNCT
gujaf-42	207	37	2018	2018	NUM
gujaf-42	207	38	)	)	PUNCT
gujaf-42	207	39	.	.	PUNCT
gujaf-42	208	1	determinants	determinant	NOUN
gujaf-42	208	2	of	of	ADP
gujaf-42	208	3	corporate	corporate	ADJ
gujaf-42	208	4	cash	cash	NOUN
gujaf-42	208	5	holding	holding	NOUN
gujaf-42	208	6	of	of	ADP
gujaf-42	208	7	non	non	ADJ
gujaf-42	208	8	-	-	ADJ
gujaf-42	208	9	financial	financial	ADJ
gujaf-42	208	10	firms	firm	NOUN
gujaf-42	208	11	listed	list	VERB
gujaf-42	208	12	on	on	ADP
gujaf-42	208	13	the	the	DET
gujaf-42	208	14	nairobi	nairobi	PROPN
gujaf-42	208	15	securities	securities	PROPN
gujaf-42	208	16	exchange	exchange	PROPN
gujaf-42	208	17	,	,	PUNCT
gujaf-42	208	18	13(9	13(9	NUM
gujaf-42	208	19	)	)	PUNCT
gujaf-42	208	20	,	,	PUNCT
gujaf-42	208	21	222–235	222–235	NUM
gujaf-42	208	22	.	.	PUNCT
gujaf-42	208	23	https://doi.org/10.5539/ijbm.v13n9p222	https://doi.org/10.5539/ijbm.v13n9p222	NOUN
gujaf-42	208	24	barasa	barasa	PROPN
gujaf-42	208	25	,	,	PUNCT
gujaf-42	208	26	c.	c.	PROPN
gujaf-42	208	27	,	,	PUNCT
gujaf-42	208	28	achoki	achoki	PROPN
gujaf-42	208	29	,	,	PUNCT
gujaf-42	208	30	g.	g.	PROPN
gujaf-42	208	31	,	,	PUNCT
gujaf-42	208	32	&	&	CCONJ
gujaf-42	208	33	njuguna	njuguna	PROPN
gujaf-42	208	34	,	,	PUNCT
gujaf-42	208	35	a.	a.	NOUN
gujaf-42	208	36	(	(	PUNCT
gujaf-42	208	37	2018	2018	NUM
gujaf-42	208	38	)	)	PUNCT
gujaf-42	208	39	.	.	PUNCT
gujaf-42	209	1	determinants	determinant	NOUN
gujaf-42	209	2	of	of	ADP
gujaf-42	209	3	corporate	corporate	ADJ
gujaf-42	209	4	cash	cash	NOUN
gujaf-42	209	5	holding	holding	NOUN
gujaf-42	209	6	of	of	ADP
gujaf-42	209	7	non	non	ADJ
gujaf-42	209	8	-	-	ADJ
gujaf-42	209	9	financial	financial	ADJ
gujaf-42	209	10	firms	firm	NOUN
gujaf-42	209	11	listed	list	VERB
gujaf-42	209	12	on	on	ADP
gujaf-42	209	13	the	the	DET
gujaf-42	209	14	nairobi	nairobi	PROPN
gujaf-42	209	15	securities	securities	PROPN
gujaf-42	209	16	exchange	exchange	PROPN
gujaf-42	209	17	.	.	PUNCT
gujaf-42	210	1	13(9	13(9	NUM
gujaf-42	210	2	)	)	PUNCT
gujaf-42	210	3	,	,	PUNCT
gujaf-42	210	4	222–235	222–235	NUM
gujaf-42	210	5	.	.	PUNCT
gujaf-42	210	6	https://doi.org/10.5539/ijbm.v13n9p222	https://doi.org/10.5539/ijbm.v13n9p222	NOUN
gujaf-42	210	7	bates	bate	NOUN
gujaf-42	210	8	,	,	PUNCT
gujaf-42	210	9	t.	t.	PROPN
gujaf-42	210	10	,	,	PUNCT
gujaf-42	210	11	kahle	kahle	PROPN
gujaf-42	210	12	,	,	PUNCT
gujaf-42	210	13	k.	k.	PROPN
gujaf-42	210	14	,	,	PUNCT
gujaf-42	210	15	&	&	CCONJ
gujaf-42	210	16	stulz	stulz	PROPN
gujaf-42	210	17	,	,	PUNCT
gujaf-42	210	18	r.	r.	PROPN
gujaf-42	210	19	(	(	PUNCT
gujaf-42	210	20	2009	2009	NUM
gujaf-42	210	21	)	)	PUNCT
gujaf-42	210	22	.	.	PUNCT
gujaf-42	211	1	why	why	SCONJ
gujaf-42	211	2	do	do	AUX
gujaf-42	211	3	u.s	u.s	PROPN
gujaf-42	211	4	.	.	PROPN
gujaf-42	211	5	firms	firm	NOUN
gujaf-42	211	6	hold	hold	VERB
gujaf-42	211	7	so	so	ADV
gujaf-42	211	8	much	much	ADV
gujaf-42	211	9	more	more	ADJ
gujaf-42	211	10	cash	cash	NOUN
gujaf-42	211	11	than	than	SCONJ
gujaf-42	211	12	they	they	PRON
gujaf-42	211	13	used	use	VERB
gujaf-42	211	14	to	to	ADP
gujaf-42	211	15	?	?	PUNCT
gujaf-42	212	1	the	the	DET
gujaf-42	212	2	journal	journal	NOUN
gujaf-42	212	3	of	of	ADP
gujaf-42	212	4	finance	finance	NOUN
gujaf-42	212	5	,	,	PUNCT
gujaf-42	212	6	15(5	15(5	NUM
gujaf-42	212	7	)	)	PUNCT
gujaf-42	212	8	chukwuebuka	chukwuebuka	NOUN
gujaf-42	212	9	,	,	PUNCT
gujaf-42	212	10	i.	i.	PROPN
gujaf-42	212	11	,	,	PUNCT
gujaf-42	212	12	&	&	CCONJ
gujaf-42	212	13	grace	grace	NOUN
gujaf-42	212	14	,	,	PUNCT
gujaf-42	212	15	n.	n.	NOUN
gujaf-42	212	16	(	(	PUNCT
gujaf-42	212	17	2019	2019	NUM
gujaf-42	212	18	)	)	PUNCT
gujaf-42	212	19	.	.	PUNCT
gujaf-42	213	1	effect	effect	NOUN
gujaf-42	213	2	of	of	ADP
gujaf-42	213	3	profitability	profitability	NOUN
gujaf-42	213	4	on	on	ADP
gujaf-42	213	5	cash	cash	NOUN
gujaf-42	213	6	holdings	holding	NOUN
gujaf-42	213	7	of	of	ADP
gujaf-42	213	8	quoted	quote	VERB
gujaf-42	213	9	consumer	consumer	NOUN
gujaf-42	213	10	goods	good	NOUN
gujaf-42	213	11	companies	company	NOUN
gujaf-42	213	12	in	in	ADP
gujaf-42	213	13	nigeria	nigeria	PROPN
gujaf-42	213	14	.	.	PUNCT
gujaf-42	214	1	international	international	ADJ
gujaf-42	214	2	journal	journal	PROPN
gujaf-42	214	3	of	of	ADP
gujaf-42	214	4	research	research	NOUN
gujaf-42	214	5	and	and	CCONJ
gujaf-42	214	6	innovation	innovation	NOUN
gujaf-42	214	7	in	in	ADP
gujaf-42	214	8	applied	apply	VERB
gujaf-42	214	9	science	science	NOUN
gujaf-42	214	10	,	,	PUNCT
gujaf-42	214	11	iv(ix	iv(ix	PROPN
gujaf-42	214	12	)	)	PUNCT
gujaf-42	214	13	,	,	PUNCT
gujaf-42	214	14	78–85	78–85	NUM
gujaf-42	214	15	.	.	PUNCT
gujaf-42	215	1	drobetz	drobetz	VERB
gujaf-42	215	2	,	,	PUNCT
gujaf-42	215	3	w.	w.	PROPN
gujaf-42	215	4	,	,	PUNCT
gujaf-42	215	5	&	&	CCONJ
gujaf-42	215	6	grüninger	grüning	ADJ
gujaf-42	215	7	,	,	PUNCT
gujaf-42	215	8	m.	m.	NOUN
gujaf-42	215	9	c.	c.	PROPN
gujaf-42	215	10	(	(	PUNCT
gujaf-42	215	11	2007	2007	NUM
gujaf-42	215	12	)	)	PUNCT
gujaf-42	215	13	.	.	PUNCT
gujaf-42	216	1	corporate	corporate	ADJ
gujaf-42	216	2	cash	cash	NOUN
gujaf-42	216	3	holdings	holding	NOUN
gujaf-42	216	4	:	:	PUNCT
gujaf-42	216	5	evidence	evidence	NOUN
gujaf-42	216	6	from	from	ADP
gujaf-42	216	7	switzerland	switzerland	PROPN
gujaf-42	216	8	.	.	PUNCT
gujaf-42	217	1	financial	financial	ADJ
gujaf-42	217	2	markets	market	NOUN
gujaf-42	217	3	portfolio	portfolio	NOUN
gujaf-42	217	4	,	,	PUNCT
gujaf-42	217	5	21	21	NUM
gujaf-42	217	6	,	,	PUNCT
gujaf-42	217	7	293	293	NUM
gujaf-42	217	8	-	-	SYM
gujaf-42	217	9	324	324	NUM
gujaf-42	217	10	ferreira	ferreira	NOUN
gujaf-42	217	11	,	,	PUNCT
gujaf-42	217	12	m.	m.	NOUN
gujaf-42	217	13	a.	a.	NOUN
gujaf-42	217	14	and	and	CCONJ
gujaf-42	217	15	vilela	vilela	PROPN
gujaf-42	217	16	,	,	PUNCT
gujaf-42	217	17	a.	a.	PROPN
gujaf-42	217	18	s.	s.	PROPN
gujaf-42	217	19	(	(	PUNCT
gujaf-42	217	20	2004	2004	NUM
gujaf-42	217	21	)	)	PUNCT
gujaf-42	217	22	.	.	PUNCT
gujaf-42	218	1	why	why	SCONJ
gujaf-42	218	2	do	do	AUX
gujaf-42	218	3	firms	firm	NOUN
gujaf-42	218	4	hold	hold	VERB
gujaf-42	218	5	cash	cash	NOUN
gujaf-42	218	6	?	?	PUNCT
gujaf-42	219	1	evidence	evidence	NOUN
gujaf-42	219	2	from	from	ADP
gujaf-42	219	3	emu	emu	PROPN
gujaf-42	219	4	countries	country	NOUN
gujaf-42	219	5	.	.	PUNCT
gujaf-42	220	1	european	european	ADJ
gujaf-42	220	2	financial	financial	ADJ
gujaf-42	220	3	management	management	NOUN
gujaf-42	220	4	,	,	PUNCT
gujaf-42	220	5	10	10	NUM
gujaf-42	220	6	:	:	PUNCT
gujaf-42	220	7	295–319	295–319	NUM
gujaf-42	220	8	.	.	PUNCT
gujaf-42	221	1	ferreira	ferreira	PROPN
gujaf-42	221	2	,	,	PUNCT
gujaf-42	221	3	m.	m.	NOUN
gujaf-42	221	4	a.	a.	NOUN
gujaf-42	221	5	and	and	CCONJ
gujaf-42	221	6	vilela	vilela	PROPN
gujaf-42	221	7	,	,	PUNCT
gujaf-42	221	8	a.	a.	PROPN
gujaf-42	221	9	s.	s.	PROPN
gujaf-42	221	10	(	(	PUNCT
gujaf-42	221	11	2004	2004	NUM
gujaf-42	221	12	)	)	PUNCT
gujaf-42	221	13	.	.	PUNCT
gujaf-42	222	1	why	why	SCONJ
gujaf-42	222	2	do	do	AUX
gujaf-42	222	3	firms	firm	NOUN
gujaf-42	222	4	hold	hold	VERB
gujaf-42	222	5	cash	cash	NOUN
gujaf-42	222	6	?	?	PUNCT
gujaf-42	223	1	evidence	evidence	NOUN
gujaf-42	223	2	from	from	ADP
gujaf-42	223	3	emu	emu	PROPN
gujaf-42	223	4	countries	country	NOUN
gujaf-42	223	5	.	.	PUNCT
gujaf-42	224	1	european	european	ADJ
gujaf-42	224	2	financial	financial	ADJ
gujaf-42	224	3	management	management	NOUN
gujaf-42	224	4	,	,	PUNCT
gujaf-42	224	5	10	10	NUM
gujaf-42	224	6	:	:	PUNCT
gujaf-42	224	7	295–319	295–319	NUM
gujaf-42	224	8	.	.	PUNCT
gujaf-42	225	1	gill	gill	PROPN
gujaf-42	225	2	,	,	PUNCT
gujaf-42	225	3	a.	a.	NOUN
gujaf-42	225	4	and	and	CCONJ
gujaf-42	225	5	shah	shah	PROPN
gujaf-42	225	6	,	,	PUNCT
gujaf-42	225	7	c.	c.	PROPN
gujaf-42	225	8	(	(	PUNCT
gujaf-42	225	9	2012	2012	NUM
gujaf-42	225	10	)	)	PUNCT
gujaf-42	225	11	.	.	PUNCT
gujaf-42	226	1	determinants	determinant	NOUN
gujaf-42	226	2	of	of	ADP
gujaf-42	226	3	corporate	corporate	ADJ
gujaf-42	226	4	cash	cash	NOUN
gujaf-42	226	5	holdings	holding	NOUN
gujaf-42	226	6	:	:	PUNCT
gujaf-42	226	7	evidence	evidence	NOUN
gujaf-42	226	8	from	from	ADP
gujaf-42	226	9	canada	canada	PROPN
gujaf-42	226	10	.	.	PUNCT
gujaf-42	227	1	international	international	ADJ
gujaf-42	227	2	journal	journal	PROPN
gujaf-42	227	3	of	of	ADP
gujaf-42	227	4	economics	economic	NOUN
gujaf-42	227	5	and	and	CCONJ
gujaf-42	227	6	finance	finance	NOUN
gujaf-42	227	7	,	,	PUNCT
gujaf-42	227	8	4(1	4(1	NOUN
gujaf-42	227	9	):	):	PUNCT
gujaf-42	227	10	7079	7079	NUM
gujaf-42	227	11	.	.	PUNCT
gujaf-42	228	1	guardian	guardian	NOUN
gujaf-42	228	2	(	(	PUNCT
gujaf-42	228	3	2020	2020	NUM
gujaf-42	228	4	)	)	PUNCT
gujaf-42	228	5	.	.	PUNCT
gujaf-42	229	1	https://guardian.ng/news/financial-liquidity-governance-othersmay-worsen-electricity-supply-in-2020/	https://guardian.ng/news/financial-liquidity-governance-othersmay-worsen-electricity-supply-in-2020/	PROPN
gujaf-42	229	2	gujarati	gujarati	PROPN
gujaf-42	229	3	,	,	PUNCT
gujaf-42	229	4	d.	d.	PROPN
gujaf-42	229	5	n.	n.	PROPN
gujaf-42	229	6	(	(	PUNCT
gujaf-42	229	7	2004	2004	NUM
gujaf-42	229	8	)	)	PUNCT
gujaf-42	229	9	.	.	PUNCT
gujaf-42	230	1	basic	basic	ADJ
gujaf-42	230	2	econometrics	econometric	NOUN
gujaf-42	230	3	.	.	PUNCT
gujaf-42	231	1	in	in	ADP
gujaf-42	231	2	basic	basic	ADJ
gujaf-42	231	3	econometrics	econometric	NOUN
gujaf-42	231	4	:	:	PUNCT
gujaf-42	231	5	vol	vol	NOUN
gujaf-42	231	6	.	.	NOUN
gujaf-42	231	7	4	4	X
gujaf-42	231	8	.	.	NOUN
gujaf-42	231	9	https://doi.org/10.1057/9780230226203.0425	https://doi.org/10.1057/9780230226203.0425	ADJ
gujaf-42	231	10	guney	guney	NOUN
gujaf-42	231	11	,	,	PUNCT
gujaf-42	231	12	a.	a.	NOUN
gujaf-42	231	13	ozkan	ozkan	PROPN
gujaf-42	231	14	,	,	PUNCT
gujaf-42	231	15	n.	n.	PROPN
gujaf-42	231	16	ozkan	ozkan	PROPN
gujaf-42	231	17	(	(	PUNCT
gujaf-42	231	18	2003	2003	NUM
gujaf-42	231	19	)	)	PUNCT
gujaf-42	231	20	.	.	PUNCT
gujaf-42	232	1	additional	additional	ADJ
gujaf-42	232	2	international	international	ADJ
gujaf-42	232	3	evidence	evidence	NOUN
gujaf-42	232	4	on	on	ADP
gujaf-42	232	5	corporate	corporate	ADJ
gujaf-42	232	6	cash	cash	NOUN
gujaf-42	232	7	holdings	holding	NOUN
gujaf-42	232	8	efma	efma	PROPN
gujaf-42	232	9	helsinki	helsinki	PROPN
gujaf-42	232	10	meetings	meetings	PROPN
gujaf-42	232	11	hair	hair	NOUN
gujaf-42	232	12	,	,	PUNCT
gujaf-42	232	13	j.	j.	PROPN
gujaf-42	232	14	f.	f.	PROPN
gujaf-42	232	15	.	.	PROPN
gujaf-42	232	16	,	,	PUNCT
gujaf-42	232	17	black	black	PROPN
gujaf-42	232	18	,	,	PUNCT
gujaf-42	232	19	w.	w.	PROPN
gujaf-42	232	20	c.	c.	PROPN
gujaf-42	232	21	,	,	PUNCT
gujaf-42	232	22	babin	babin	PROPN
gujaf-42	232	23	,	,	PUNCT
gujaf-42	232	24	b.	b.	PROPN
gujaf-42	232	25	j.	j.	PROPN
gujaf-42	232	26	,	,	PUNCT
gujaf-42	232	27	&	&	CCONJ
gujaf-42	232	28	anderson	anderson	PROPN
gujaf-42	232	29	,	,	PUNCT
gujaf-42	232	30	r.	r.	PROPN
gujaf-42	232	31	e.	e.	PROPN
gujaf-42	232	32	(	(	PUNCT
gujaf-42	232	33	2014	2014	NUM
gujaf-42	232	34	)	)	PUNCT
gujaf-42	232	35	.	.	PUNCT
gujaf-42	233	1	multivariate	multivariate	NOUN
gujaf-42	233	2	data	datum	NOUN
gujaf-42	233	3	analysis	analysis	NOUN
gujaf-42	233	4	black	black	ADJ
gujaf-42	233	5	seventh	seventh	ADJ
gujaf-42	233	6	edition	edition	NOUN
gujaf-42	233	7	.	.	PUNCT
gujaf-42	234	1	islam	islam	PROPN
gujaf-42	234	2	,	,	PUNCT
gujaf-42	234	3	s.	s.	PROPN
gujaf-42	234	4	(	(	PUNCT
gujaf-42	234	5	2012	2012	NUM
gujaf-42	234	6	)	)	PUNCT
gujaf-42	234	7	.	.	PUNCT
gujaf-42	235	1	manufacturing	manufacturing	NOUN
gujaf-42	235	2	firms	firm	NOUN
gujaf-42	235	3	’	'	PUNCT
gujaf-42	235	4	cash	cash	NOUN
gujaf-42	235	5	holding	hold	VERB
gujaf-42	235	6	determinants	determinant	NOUN
gujaf-42	235	7	 	 	SPACE
gujaf-42	235	8	:	:	PUNCT
gujaf-42	235	9	evidence	evidence	NOUN
gujaf-42	235	10	from	from	ADP
gujaf-42	235	11	.	.	PUNCT
gujaf-42	235	12	7(6	7(6	NUM
gujaf-42	235	13	)	)	PUNCT
gujaf-42	235	14	,	,	PUNCT
gujaf-42	235	15	172–184	172–184	NUM
gujaf-42	235	16	.	.	PUNCT
gujaf-42	236	1	https://doi.org/10.5539/ijbm.v7n6p172	https://doi.org/10.5539/ijbm.v7n6p172	PROPN
gujaf-42	236	2	https://doi.org/10.1016/j.irfa.2015.09.007	https://doi.org/10.1016/j.irfa.2015.09.007	PROPN
gujaf-42	236	3	https://guardian.ng/news/financial-liquidity-governance-others-may-worsen-electricity-supply-in-2020/	https://guardian.ng/news/financial-liquidity-governance-others-may-worsen-electricity-supply-in-2020/	PROPN
gujaf-42	236	4	https://guardian.ng/news/financial-liquidity-governance-others-may-worsen-electricity-supply-in-2020/	https://guardian.ng/news/financial-liquidity-governance-others-may-worsen-electricity-supply-in-2020/	PROPN
gujaf-42	236	5	gusau	gusau	PROPN
gujaf-42	236	6	journal	journal	PROPN
gujaf-42	236	7	of	of	ADP
gujaf-42	236	8	accounting	accounting	NOUN
gujaf-42	236	9	and	and	CCONJ
gujaf-42	236	10	finance	finance	NOUN
gujaf-42	236	11	,	,	PUNCT
gujaf-42	236	12	vol	vol	NOUN
gujaf-42	236	13	.	.	PUNCT
gujaf-42	237	1	i	i	PRON
gujaf-42	237	2	,	,	PUNCT
gujaf-42	237	3	issue	issue	NOUN
gujaf-42	237	4	2	2	NUM
gujaf-42	237	5	,	,	PUNCT
gujaf-42	237	6	october	october	PROPN
gujaf-42	237	7	,	,	PUNCT
gujaf-42	237	8	2020	2020	NUM
gujaf-42	237	9	15	15	NUM
gujaf-42	237	10	j.m.wooldridge	j.m.wooldridge	NOUN
gujaf-42	237	11	.	.	PUNCT
gujaf-42	238	1	(	(	PUNCT
gujaf-42	238	2	2011	2011	NUM
gujaf-42	238	3	)	)	PUNCT
gujaf-42	238	4	.	.	PUNCT
gujaf-42	239	1	introductory	introductory	ADJ
gujaf-42	239	2	econometrics	econometric	NOUN
gujaf-42	239	3	.	.	PUNCT
gujaf-42	240	1	in	in	ADP
gujaf-42	240	2	journal	journal	NOUN
gujaf-42	240	3	of	of	ADP
gujaf-42	240	4	contaminant	contaminant	ADJ
gujaf-42	240	5	hydrology	hydrology	NOUN
gujaf-42	240	6	(	(	PUNCT
gujaf-42	240	7	vols	vol	NOUN
gujaf-42	240	8	.	.	PUNCT
gujaf-42	241	1	120–121	120–121	NUM
gujaf-42	241	2	)	)	PUNCT
gujaf-42	241	3	.	.	PUNCT
gujaf-42	242	1	https://doi.org/10.1016/j.jconhyd.2010.08.009	https://doi.org/10.1016/j.jconhyd.2010.08.009	PROPN
gujaf-42	242	2	jensen	jensen	PROPN
gujaf-42	242	3	,	,	PUNCT
gujaf-42	242	4	m.	m.	PROPN
gujaf-42	242	5	c.	c.	PROPN
gujaf-42	242	6	(	(	PUNCT
gujaf-42	242	7	1986	1986	NUM
gujaf-42	242	8	)	)	PUNCT
gujaf-42	242	9	.	.	PUNCT
gujaf-42	243	1	agency	agency	NOUN
gujaf-42	243	2	costs	cost	NOUN
gujaf-42	243	3	of	of	ADP
gujaf-42	243	4	free	free	ADJ
gujaf-42	243	5	cash	cash	NOUN
gujaf-42	243	6	flow	flow	NOUN
gujaf-42	243	7	,	,	PUNCT
gujaf-42	243	8	corporate	corporate	ADJ
gujaf-42	243	9	finance	finance	NOUN
gujaf-42	243	10	,	,	PUNCT
gujaf-42	243	11	and	and	CCONJ
gujaf-42	243	12	takeovers	takeover	NOUN
gujaf-42	243	13	.	.	PUNCT
gujaf-42	244	1	the	the	DET
gujaf-42	244	2	american	american	PROPN
gujaf-42	244	3	economic	economic	PROPN
gujaf-42	244	4	review	review	PROPN
gujaf-42	244	5	,	,	PUNCT
gujaf-42	244	6	76(2	76(2	NUM
gujaf-42	244	7	)	)	PUNCT
gujaf-42	244	8	,	,	PUNCT
gujaf-42	244	9	323	323	NUM
gujaf-42	244	10	-	-	SYM
gujaf-42	244	11	329	329	NUM
gujaf-42	244	12	.	.	PUNCT
gujaf-42	244	13	kalcheva	kalcheva	PROPN
gujaf-42	244	14	&	&	CCONJ
gujaf-42	244	15	k.	k.	PROPN
gujaf-42	244	16	v.	v.	PROPN
gujaf-42	244	17	lins	lins	PROPN
gujaf-42	244	18	,	,	PUNCT
gujaf-42	244	19	(	(	PUNCT
gujaf-42	244	20	2007	2007	NUM
gujaf-42	244	21	)	)	PUNCT
gujaf-42	244	22	“	"	PUNCT
gujaf-42	244	23	international	international	ADJ
gujaf-42	244	24	evidence	evidence	NOUN
gujaf-42	244	25	on	on	ADP
gujaf-42	244	26	cash	cash	NOUN
gujaf-42	244	27	holdings	holding	NOUN
gujaf-42	244	28	and	and	CCONJ
gujaf-42	244	29	expected	expect	VERB
gujaf-42	244	30	managerial	managerial	ADJ
gujaf-42	244	31	agency	agency	NOUN
gujaf-42	244	32	problems	problem	NOUN
gujaf-42	244	33	,	,	PUNCT
gujaf-42	244	34	”	"	PUNCT
gujaf-42	244	35	review	review	NOUN
gujaf-42	244	36	of	of	ADP
gujaf-42	244	37	financial	financial	ADJ
gujaf-42	244	38	studies	study	NOUN
gujaf-42	244	39	,	,	PUNCT
gujaf-42	244	40	20	20	NUM
gujaf-42	244	41	(	(	PUNCT
gujaf-42	244	42	4	4	NUM
gujaf-42	244	43	)	)	PUNCT
gujaf-42	244	44	1087	1087	NUM
gujaf-42	244	45	-	-	SYM
gujaf-42	244	46	1112	1112	NUM
gujaf-42	244	47	kim	kim	PROPN
gujaf-42	244	48	,	,	PUNCT
gujaf-42	244	49	d.	d.	PROPN
gujaf-42	244	50	mauer	mauer	PROPN
gujaf-42	244	51	&	&	CCONJ
gujaf-42	244	52	a.	a.	PROPN
gujaf-42	244	53	sherman	sherman	PROPN
gujaf-42	244	54	(	(	PUNCT
gujaf-42	244	55	1998	1998	NUM
gujaf-42	244	56	)	)	PUNCT
gujaf-42	244	57	,	,	PUNCT
gujaf-42	244	58	the	the	DET
gujaf-42	244	59	determinants	determinant	NOUN
gujaf-42	244	60	of	of	ADP
gujaf-42	244	61	corporate	corporate	ADJ
gujaf-42	244	62	liquidity	liquidity	NOUN
gujaf-42	244	63	:	:	PUNCT
gujaf-42	244	64	theory	theory	NOUN
gujaf-42	244	65	and	and	CCONJ
gujaf-42	244	66	evidence	evidence	NOUN
gujaf-42	244	67	,	,	PUNCT
gujaf-42	244	68	”	"	PUNCT
gujaf-42	244	69	journal	journal	NOUN
gujaf-42	244	70	of	of	ADP
gujaf-42	244	71	financial	financial	ADJ
gujaf-42	244	72	and	and	CCONJ
gujaf-42	244	73	quantitative	quantitative	ADJ
gujaf-42	244	74	analysis	analysis	NOUN
gujaf-42	244	75	(	(	PUNCT
gujaf-42	244	76	33	33	NUM
gujaf-42	244	77	)	)	SYM
gujaf-42	244	78	335	335	NUM
gujaf-42	244	79	-	-	SYM
gujaf-42	244	80	359	359	NUM
gujaf-42	244	81	,	,	PUNCT
gujaf-42	244	82	kuan	kuan	PROPN
gujaf-42	244	83	,	,	PUNCT
gujaf-42	244	84	t.	t.	PROPN
gujaf-42	244	85	,	,	PUNCT
gujaf-42	244	86	li	li	PROPN
gujaf-42	244	87	,	,	PUNCT
gujaf-42	244	88	c.	c.	PROPN
gujaf-42	244	89	,	,	PUNCT
gujaf-42	244	90	&	&	CCONJ
gujaf-42	244	91	chu	chu	PROPN
gujaf-42	244	92	,	,	PUNCT
gujaf-42	244	93	s.	s.	PROPN
gujaf-42	244	94	(	(	PUNCT
gujaf-42	244	95	2011	2011	NUM
gujaf-42	244	96	)	)	PUNCT
gujaf-42	244	97	.	.	PUNCT
gujaf-42	245	1	cash	cash	NOUN
gujaf-42	245	2	holdings	holding	NOUN
gujaf-42	245	3	and	and	CCONJ
gujaf-42	245	4	corporate	corporate	ADJ
gujaf-42	245	5	governance	governance	NOUN
gujaf-42	245	6	in	in	ADP
gujaf-42	245	7	family	family	NOUN
gujaf-42	245	8	-	-	PUNCT
gujaf-42	245	9	controlled	control	VERB
gujaf-42	245	10	firms	firm	NOUN
gujaf-42	245	11	.	.	PUNCT
gujaf-42	246	1	journal	journal	PROPN
gujaf-42	246	2	of	of	ADP
gujaf-42	246	3	business	business	NOUN
gujaf-42	246	4	research	research	NOUN
gujaf-42	246	5	,	,	PUNCT
gujaf-42	246	6	64(7	64(7	NOUN
gujaf-42	246	7	)	)	PUNCT
gujaf-42	246	8	,	,	PUNCT
gujaf-42	246	9	757	757	PROPN
gujaf-42	246	10	-	-	SYM
gujaf-42	246	11	764	764	NUM
gujaf-42	246	12	.	.	PUNCT
gujaf-42	247	1	https://doi.org/10.1016/j.jbusres.2010.07.004	https://doi.org/10.1016/j.jbusres.2010.07.004	VERB
gujaf-42	247	2	lawrencia	lawrencia	PROPN
gujaf-42	247	3	olatunde	olatunde	NOUN
gujaf-42	247	4	ogundipe	ogundipe	NOUN
gujaf-42	247	5	,	,	PUNCT
gujaf-42	247	6	sunday	sunday	PROPN
gujaf-42	247	7	emmanuel	emmanuel	PROPN
gujaf-42	247	8	ogundipe	ogundipe	PROPN
gujaf-42	247	9	,	,	PUNCT
gujaf-42	247	10	s.	s.	PROPN
gujaf-42	247	11	k.	k.	PROPN
gujaf-42	247	12	a.	a.	PROPN
gujaf-42	247	13	(	(	PUNCT
gujaf-42	247	14	2012	2012	NUM
gujaf-42	247	15	)	)	PUNCT
gujaf-42	247	16	.	.	PUNCT
gujaf-42	248	1	cash	cash	NOUN
gujaf-42	248	2	holding	holding	NOUN
gujaf-42	248	3	and	and	CCONJ
gujaf-42	248	4	firm	firm	ADJ
gujaf-42	248	5	characteristics	characteristic	NOUN
gujaf-42	248	6	:	:	PUNCT
gujaf-42	248	7	evidence	evidence	NOUN
gujaf-42	248	8	from	from	ADP
gujaf-42	248	9	nigerian	nigerian	ADJ
gujaf-42	248	10	emerging	emerge	VERB
gujaf-42	248	11	market	market	NOUN
gujaf-42	248	12	.	.	PUNCT
gujaf-42	249	1	journal	journal	NOUN
gujaf-42	249	2	of	of	ADP
gujaf-42	249	3	business	business	NOUN
gujaf-42	249	4	,	,	PUNCT
gujaf-42	249	5	economics	economics	PROPN
gujaf-42	249	6	&	&	CCONJ
gujaf-42	249	7	finance	finance	PROPN
gujaf-42	249	8	,	,	PUNCT
gujaf-42	249	9	1	1	NUM
gujaf-42	249	10	,	,	PUNCT
gujaf-42	249	11	45–58	45–58	NOUN
gujaf-42	249	12	.	.	PUNCT
gujaf-42	250	1	lawrencia	lawrencia	PROPN
gujaf-42	250	2	olatunde	olatunde	PROPN
gujaf-42	250	3	ogundipe	ogundipe	PROPN
gujaf-42	250	4	,	,	PUNCT
gujaf-42	250	5	sunday	sunday	PROPN
gujaf-42	250	6	emmanuel	emmanuel	PROPN
gujaf-42	250	7	ogundipe	ogundipe	PROPN
gujaf-42	250	8	,	,	PUNCT
gujaf-42	250	9	s.	s.	PROPN
gujaf-42	250	10	k.	k.	PROPN
gujaf-42	250	11	a.	a.	PROPN
gujaf-42	250	12	(	(	PUNCT
gujaf-42	250	13	2012	2012	NUM
gujaf-42	250	14	)	)	PUNCT
gujaf-42	250	15	.	.	PUNCT
gujaf-42	251	1	cash	cash	NOUN
gujaf-42	251	2	holding	holding	NOUN
gujaf-42	251	3	and	and	CCONJ
gujaf-42	251	4	firm	firm	ADJ
gujaf-42	251	5	characteristics	characteristic	NOUN
gujaf-42	251	6	:	:	PUNCT
gujaf-42	251	7	evidence	evidence	NOUN
gujaf-42	251	8	from	from	ADP
gujaf-42	251	9	nigerian	nigerian	ADJ
gujaf-42	251	10	emerging	emerge	VERB
gujaf-42	251	11	market	market	NOUN
gujaf-42	251	12	.	.	PUNCT
gujaf-42	252	1	journal	journal	NOUN
gujaf-42	252	2	of	of	ADP
gujaf-42	252	3	business	business	NOUN
gujaf-42	252	4	,	,	PUNCT
gujaf-42	252	5	economics	economics	PROPN
gujaf-42	252	6	&	&	CCONJ
gujaf-42	252	7	finance	finance	PROPN
gujaf-42	252	8	,	,	PUNCT
gujaf-42	252	9	1	1	NUM
gujaf-42	252	10	,	,	PUNCT
gujaf-42	252	11	45–58	45–58	NUM
gujaf-42	252	12	.	.	PUNCT
gujaf-42	253	1	magerakis	magerakis	PROPN
gujaf-42	253	2	,	,	PUNCT
gujaf-42	253	3	e.	e.	PROPN
gujaf-42	253	4	,	,	PUNCT
gujaf-42	253	5	siriopoulos	siriopoulos	PROPN
gujaf-42	253	6	,	,	PUNCT
gujaf-42	253	7	c.	c.	PROPN
gujaf-42	253	8	,	,	PUNCT
gujaf-42	253	9	&	&	CCONJ
gujaf-42	253	10	tsagkanos	tsagkanos	PROPN
gujaf-42	253	11	,	,	PUNCT
gujaf-42	253	12	a.	a.	NOUN
gujaf-42	253	13	(	(	PUNCT
gujaf-42	253	14	2015	2015	NUM
gujaf-42	253	15	)	)	PUNCT
gujaf-42	253	16	.	.	PUNCT
gujaf-42	254	1	cash	cash	NOUN
gujaf-42	254	2	holdings	holding	NOUN
gujaf-42	254	3	and	and	CCONJ
gujaf-42	254	4	firm	firm	ADJ
gujaf-42	254	5	characteristics	characteristic	NOUN
gujaf-42	254	6	 	 	SPACE
gujaf-42	254	7	:	:	PUNCT
gujaf-42	254	8	evidence	evidence	NOUN
gujaf-42	254	9	from	from	ADP
gujaf-42	254	10	uk	uk	PROPN
gujaf-42	254	11	market	market	NOUN
gujaf-42	254	12	,	,	PUNCT
gujaf-42	254	13	2(1	2(1	NUM
gujaf-42	254	14	)	)	PUNCT
gujaf-42	254	15	,	,	PUNCT
gujaf-42	254	16	19–43	19–43	NUM
gujaf-42	254	17	magerakis	mageraki	NOUN
gujaf-42	254	18	,	,	PUNCT
gujaf-42	254	19	e.	e.	PROPN
gujaf-42	254	20	,	,	PUNCT
gujaf-42	254	21	siriopoulos	siriopoulos	PROPN
gujaf-42	254	22	,	,	PUNCT
gujaf-42	254	23	c.	c.	PROPN
gujaf-42	254	24	,	,	PUNCT
gujaf-42	254	25	&	&	CCONJ
gujaf-42	254	26	tsagkanos	tsagkanos	PROPN
gujaf-42	254	27	,	,	PUNCT
gujaf-42	254	28	a.	a.	NOUN
gujaf-42	254	29	(	(	PUNCT
gujaf-42	254	30	2015	2015	NUM
gujaf-42	254	31	)	)	PUNCT
gujaf-42	254	32	.	.	PUNCT
gujaf-42	255	1	cash	cash	NOUN
gujaf-42	255	2	holdings	holding	NOUN
gujaf-42	255	3	and	and	CCONJ
gujaf-42	255	4	firm	firm	ADJ
gujaf-42	255	5	characteristics	characteristic	NOUN
gujaf-42	255	6	 	 	SPACE
gujaf-42	255	7	:	:	PUNCT
gujaf-42	255	8	evidence	evidence	NOUN
gujaf-42	255	9	from	from	ADP
gujaf-42	255	10	uk	uk	PROPN
gujaf-42	255	11	market	market	NOUN
gujaf-42	255	12	.	.	PUNCT
gujaf-42	256	1	2(1	2(1	NUM
gujaf-42	256	2	)	)	PUNCT
gujaf-42	256	3	,	,	PUNCT
gujaf-42	256	4	19–43	19–43	X
gujaf-42	256	5	.	.	PROPN
gujaf-42	256	6	mantobaye	mantobaye	PROPN
gujaf-42	256	7	moundigbaye	moundigbaye	NOUN
gujaf-42	256	8	,	,	PUNCT
gujaf-42	256	9	william	william	PROPN
gujaf-42	256	10	s.	s.	PROPN
gujaf-42	256	11	rea	rea	PROPN
gujaf-42	256	12	,	,	PUNCT
gujaf-42	256	13	and	and	CCONJ
gujaf-42	256	14	w.	w.	PROPN
gujaf-42	256	15	r.	r.	PROPN
gujaf-42	256	16	r.	r.	PROPN
gujaf-42	256	17	(	(	PUNCT
gujaf-42	256	18	2017	2017	NUM
gujaf-42	256	19	)	)	PUNCT
gujaf-42	256	20	.	.	PUNCT
gujaf-42	257	1	1	1	X
gujaf-42	257	2	.	.	NUM
gujaf-42	257	3	which	which	DET
gujaf-42	257	4	panel	panel	NOUN
gujaf-42	257	5	data	data	NOUN
gujaf-42	257	6	estimator	estimator	NOUN
gujaf-42	257	7	should	should	AUX
gujaf-42	257	8	i	i	PRON
gujaf-42	257	9	use.pdf	use.pdf	ADJ
gujaf-42	257	10	.	.	PUNCT
gujaf-42	258	1	2017	2017	NUM
gujaf-42	258	2	.	.	PUNCT
gujaf-42	259	1	megginson	megginson	PROPN
gujaf-42	259	2	,	,	PUNCT
gujaf-42	259	3	w.	w.	PROPN
gujaf-42	259	4	l.	l.	PROPN
gujaf-42	259	5	,	,	PUNCT
gujaf-42	259	6	&	&	CCONJ
gujaf-42	259	7	wei	wei	PROPN
gujaf-42	259	8	,	,	PUNCT
gujaf-42	259	9	z.	z.	PROPN
gujaf-42	259	10	(	(	PUNCT
gujaf-42	259	11	2010	2010	NUM
gujaf-42	259	12	)	)	PUNCT
gujaf-42	259	13	.	.	PUNCT
gujaf-42	260	1	determinants	determinant	NOUN
gujaf-42	260	2	and	and	CCONJ
gujaf-42	260	3	value	value	NOUN
gujaf-42	260	4	of	of	ADP
gujaf-42	260	5	cash	cash	NOUN
gujaf-42	260	6	holdings	holding	NOUN
gujaf-42	260	7	:	:	PUNCT
gujaf-42	260	8	evidence	evidence	NOUN
gujaf-42	260	9	from	from	ADP
gujaf-42	260	10	china	china	PROPN
gujaf-42	260	11	's	's	PART
gujaf-42	260	12	privatized	privatized	ADJ
gujaf-42	260	13	firms	firm	NOUN
gujaf-42	260	14	.	.	PUNCT
gujaf-42	261	1	ssrn	ssrn	PROPN
gujaf-42	261	2	working	working	PROPN
gujaf-42	261	3	paper	paper	NOUN
gujaf-42	261	4	series	series	NOUN
gujaf-42	261	5	,	,	PUNCT
gujaf-42	261	6	137	137	NUM
gujaf-42	261	7	myers	myer	NOUN
gujaf-42	261	8	,	,	PUNCT
gujaf-42	261	9	s.	s.	PROPN
gujaf-42	261	10	c.	c.	PROPN
gujaf-42	261	11	,	,	PUNCT
gujaf-42	261	12	&	&	CCONJ
gujaf-42	261	13	majluf	majluf	PROPN
gujaf-42	261	14	,	,	PUNCT
gujaf-42	261	15	n.	n.	PROPN
gujaf-42	261	16	s.	s.	PROPN
gujaf-42	261	17	(	(	PUNCT
gujaf-42	261	18	1984	1984	NUM
gujaf-42	261	19	)	)	PUNCT
gujaf-42	261	20	.	.	PUNCT
gujaf-42	262	1	corporate	corporate	ADJ
gujaf-42	262	2	financing	financing	NOUN
gujaf-42	262	3	and	and	CCONJ
gujaf-42	262	4	investment	investment	NOUN
gujaf-42	262	5	decisions	decision	NOUN
gujaf-42	262	6	when	when	SCONJ
gujaf-42	262	7	firms	firm	NOUN
gujaf-42	262	8	have	have	VERB
gujaf-42	262	9	information	information	NOUN
gujaf-42	262	10	that	that	SCONJ
gujaf-42	262	11	investors	investor	NOUN
gujaf-42	262	12	do	do	AUX
gujaf-42	262	13	not	not	PART
gujaf-42	262	14	have	have	VERB
gujaf-42	262	15	.	.	PUNCT
gujaf-42	263	1	journal	journal	NOUN
gujaf-42	263	2	of	of	ADP
gujaf-42	263	3	financial	financial	ADJ
gujaf-42	263	4	economics	economic	NOUN
gujaf-42	263	5	,	,	PUNCT
gujaf-42	263	6	13(2	13(2	PROPN
gujaf-42	263	7	)	)	PUNCT
gujaf-42	263	8	,	,	PUNCT
gujaf-42	263	9	187	187	NUM
gujaf-42	263	10	-	-	SYM
gujaf-42	263	11	221	221	NUM
gujaf-42	263	12	.	.	PUNCT
gujaf-42	264	1	nguyen	nguyen	NOUN
gujaf-42	264	2	,	,	PUNCT
gujaf-42	264	3	p.	p.	NOUN
gujaf-42	264	4	(	(	PUNCT
gujaf-42	264	5	2006	2006	NUM
gujaf-42	264	6	)	)	PUNCT
gujaf-42	264	7	.	.	PUNCT
gujaf-42	265	1	how	how	SCONJ
gujaf-42	265	2	sensitive	sensitive	ADJ
gujaf-42	265	3	are	be	AUX
gujaf-42	265	4	japanese	japanese	ADJ
gujaf-42	265	5	firms	firm	NOUN
gujaf-42	265	6	to	to	ADP
gujaf-42	265	7	earnings	earning	NOUN
gujaf-42	265	8	risk	risk	NOUN
gujaf-42	265	9	?	?	PUNCT
gujaf-42	266	1	evidence	evidence	NOUN
gujaf-42	266	2	from	from	ADP
gujaf-42	266	3	cash	cash	NOUN
gujaf-42	266	4	holdings	holding	NOUN
gujaf-42	266	5	.	.	PUNCT
gujaf-42	267	1	http://dx.doi.org/10.2139/ssrn.889502	http://dx.doi.org/10.2139/ssrn.889502	PROPN
gujaf-42	267	2	opler	opler	PROPN
gujaf-42	267	3	,	,	PUNCT
gujaf-42	267	4	l.	l.	PROPN
gujaf-42	267	5	pinkowitz	pinkowitz	PROPN
gujaf-42	267	6	,	,	PUNCT
gujaf-42	267	7	r.	r.	PROPN
gujaf-42	267	8	stulz	stulz	PROPN
gujaf-42	267	9	,	,	PUNCT
gujaf-42	267	10	r.	r.	PROPN
gujaf-42	267	11	&	&	CCONJ
gujaf-42	267	12	williamson	williamson	PROPN
gujaf-42	267	13	(	(	PUNCT
gujaf-42	267	14	1999	1999	NUM
gujaf-42	267	15	)	)	PUNCT
gujaf-42	267	16	.	.	PUNCT
gujaf-42	268	1	the	the	DET
gujaf-42	268	2	determinants	determinant	NOUN
gujaf-42	268	3	and	and	CCONJ
gujaf-42	268	4	implications	implication	NOUN
gujaf-42	268	5	of	of	ADP
gujaf-42	268	6	corporate	corporate	ADJ
gujaf-42	268	7	cash	cash	NOUN
gujaf-42	268	8	holdings	holding	NOUN
gujaf-42	268	9	.	.	PUNCT
gujaf-42	269	1	journal	journal	NOUN
gujaf-42	269	2	of	of	ADP
gujaf-42	269	3	financial	financial	ADJ
gujaf-42	269	4	economics	economic	NOUN
gujaf-42	269	5	,	,	PUNCT
gujaf-42	269	6	52	52	NUM
gujaf-42	269	7	pp	pp	NOUN
gujaf-42	269	8	.	.	PUNCT
gujaf-42	270	1	3	3	NUM
gujaf-42	270	2	-	-	SYM
gujaf-42	270	3	46	46	NUM
gujaf-42	270	4	http://dx.doi.org/10.2139/ssrn.889502	http://dx.doi.org/10.2139/ssrn.889502	NOUN
gujaf-42	270	5	gusau	gusau	PROPN
gujaf-42	270	6	journal	journal	PROPN
gujaf-42	270	7	of	of	ADP
gujaf-42	270	8	accounting	accounting	NOUN
gujaf-42	270	9	and	and	CCONJ
gujaf-42	270	10	finance	finance	NOUN
gujaf-42	270	11	,	,	PUNCT
gujaf-42	270	12	vol	vol	NOUN
gujaf-42	270	13	.	.	PUNCT
gujaf-42	271	1	i	i	PRON
gujaf-42	271	2	,	,	PUNCT
gujaf-42	271	3	issue	issue	NOUN
gujaf-42	271	4	2	2	NUM
gujaf-42	271	5	,	,	PUNCT
gujaf-42	271	6	october	october	PROPN
gujaf-42	271	7	,	,	PUNCT
gujaf-42	271	8	2020	2020	NUM
gujaf-42	271	9	16	16	NUM
gujaf-42	271	10	orens	oren	NOUN
gujaf-42	271	11	,	,	PUNCT
gujaf-42	271	12	r.	r.	PROPN
gujaf-42	271	13	,	,	PUNCT
gujaf-42	271	14	&	&	CCONJ
gujaf-42	271	15	reheul	reheul	PROPN
gujaf-42	271	16	,	,	PUNCT
gujaf-42	271	17	a.	a.	NOUN
gujaf-42	271	18	(	(	PUNCT
gujaf-42	271	19	2013	2013	NUM
gujaf-42	271	20	)	)	PUNCT
gujaf-42	271	21	.	.	PUNCT
gujaf-42	272	1	do	do	AUX
gujaf-42	272	2	ceo	ceo	NOUN
gujaf-42	272	3	demographics	demographic	NOUN
gujaf-42	272	4	explain	explain	VERB
gujaf-42	272	5	cash	cash	NOUN
gujaf-42	272	6	holdings	holding	NOUN
gujaf-42	272	7	in	in	ADP
gujaf-42	272	8	smes	sme	NOUN
gujaf-42	272	9	?	?	PUNCT
gujaf-42	273	1	european	european	ADJ
gujaf-42	273	2	management	management	PROPN
gujaf-42	273	3	journal	journal	PROPN
gujaf-42	273	4	,	,	PUNCT
gujaf-42	273	5	31(6	31(6	NUM
gujaf-42	273	6	)	)	PUNCT
gujaf-42	273	7	,	,	PUNCT
gujaf-42	273	8	549563	549563	NUM
gujaf-42	273	9	.	.	PUNCT
gujaf-42	274	1	https://doi.org/10.1016/j	https://doi.org/10.1016/j	NOUN
gujaf-42	274	2	.	.	PUNCT
gujaf-42	275	1	emj.2013.01.003	emj.2013.01.003	NOUN
gujaf-42	275	2	ozordi	ozordi	PROPN
gujaf-42	275	3	,	,	PUNCT
gujaf-42	275	4	e.	e.	PROPN
gujaf-42	275	5	(	(	PUNCT
gujaf-42	275	6	2020	2020	NUM
gujaf-42	275	7	)	)	PUNCT
gujaf-42	275	8	.	.	PUNCT
gujaf-42	276	1	corporate	corporate	ADJ
gujaf-42	276	2	dynamism	dynamism	NOUN
gujaf-42	276	3	and	and	CCONJ
gujaf-42	276	4	cash	cash	NOUN
gujaf-42	276	5	holding	hold	VERB
gujaf-42	276	6	decision	decision	NOUN
gujaf-42	276	7	in	in	ADP
gujaf-42	276	8	listed	list	VERB
gujaf-42	276	9	manufacturing	manufacturing	NOUN
gujaf-42	276	10	firms	firm	NOUN
gujaf-42	276	11	in	in	ADP
gujaf-42	276	12	nigeria	nigeria	PROPN
gujaf-42	276	13	,	,	PUNCT
gujaf-42	276	14	0–12	0–12	PROPN
gujaf-42	276	15	.	.	PUNCT
gujaf-42	277	1	https://doi.org/10.21511/ppm.17(4).2019.01	https://doi.org/10.21511/ppm.17(4).2019.01	PUNCT
gujaf-42	278	1	ozordi	ozordi	PROPN
gujaf-42	278	2	,	,	PUNCT
gujaf-42	278	3	e.	e.	PROPN
gujaf-42	278	4	(	(	PUNCT
gujaf-42	278	5	2020	2020	NUM
gujaf-42	278	6	)	)	PUNCT
gujaf-42	278	7	.	.	PUNCT
gujaf-42	279	1	corporate	corporate	ADJ
gujaf-42	279	2	dynamism	dynamism	NOUN
gujaf-42	279	3	and	and	CCONJ
gujaf-42	279	4	cash	cash	NOUN
gujaf-42	279	5	holding	hold	VERB
gujaf-42	279	6	decision	decision	NOUN
gujaf-42	279	7	in	in	ADP
gujaf-42	279	8	listed	list	VERB
gujaf-42	279	9	manufacturing	manufacturing	NOUN
gujaf-42	279	10	firms	firm	NOUN
gujaf-42	279	11	in	in	ADP
gujaf-42	279	12	nigeria	nigeria	PROPN
gujaf-42	279	13	.	.	PUNCT
gujaf-42	280	1	0–12	0–12	PROPN
gujaf-42	280	2	.	.	PUNCT
gujaf-42	280	3	https://doi.org/10.21511/ppm.17(4).2019.01	https://doi.org/10.21511/ppm.17(4).2019.01	PUNCT
gujaf-42	281	1	pandey	pandey	PROPN
gujaf-42	281	2	,	,	PUNCT
gujaf-42	281	3	i.m	i.m	PROPN
gujaf-42	281	4	.	.	PUNCT
gujaf-42	281	5	(	(	PUNCT
gujaf-42	281	6	2006	2006	NUM
gujaf-42	281	7	):	):	PUNCT
gujaf-42	281	8	financial	financial	ADJ
gujaf-42	281	9	management	management	NOUN
gujaf-42	281	10	.	.	PUNCT
gujaf-42	282	1	new	new	ADJ
gujaf-42	282	2	delhi	delhi	PROPN
gujaf-42	282	3	vikas	vikas	PROPN
gujaf-42	282	4	publishing	publishing	PROPN
gujaf-42	282	5	house	house	PROPN
gujaf-42	282	6	pvt	pvt	PROPN
gujaf-42	282	7	ltd	ltd	PROPN
gujaf-42	282	8	9th	9th	PROPN
gujaf-42	282	9	edition	edition	NOUN
gujaf-42	282	10	proshare	proshare	NOUN
gujaf-42	282	11	(	(	PUNCT
gujaf-42	282	12	2020	2020	NUM
gujaf-42	282	13	)	)	PUNCT
gujaf-42	282	14	.	.	PUNCT
gujaf-42	283	1	https://www.proshareng.com/news/general/why-companieswill-continue-to-leave-nigeria-for-ghana-/7324	https://www.proshareng.com/news/general/why-companieswill-continue-to-leave-nigeria-for-ghana-/7324	ADJ
gujaf-42	283	2	#	#	NOUN
gujaf-42	283	3	thi	thi	NOUN
gujaf-42	283	4	,	,	PUNCT
gujaf-42	283	5	d.	d.	PROPN
gujaf-42	283	6	,	,	PUNCT
gujaf-42	283	7	&	&	CCONJ
gujaf-42	283	8	nhan	nhan	PROPN
gujaf-42	283	9	,	,	PUNCT
gujaf-42	283	10	t.	t.	PROPN
gujaf-42	283	11	(	(	PUNCT
gujaf-42	283	12	2016	2016	NUM
gujaf-42	283	13	)	)	PUNCT
gujaf-42	283	14	.	.	PUNCT
gujaf-42	284	1	a	a	DET
gujaf-42	284	2	review	review	NOUN
gujaf-42	284	3	of	of	ADP
gujaf-42	284	4	cash	cash	NOUN
gujaf-42	284	5	holding	holding	NOUN
gujaf-42	284	6	and	and	CCONJ
gujaf-42	284	7	corporate	corporate	ADJ
gujaf-42	284	8	governance	governance	NOUN
gujaf-42	284	9	mechanisms	mechanism	NOUN
gujaf-42	284	10	in	in	ADP
gujaf-42	284	11	transition	transition	NOUN
gujaf-42	284	12	economies	economy	NOUN
gujaf-42	284	13	.	.	PUNCT
gujaf-42	285	1	international	international	ADJ
gujaf-42	285	2	review	review	NOUN
gujaf-42	285	3	of	of	ADP
gujaf-42	285	4	management	management	NOUN
gujaf-42	285	5	and	and	CCONJ
gujaf-42	285	6	marketing	marketing	NOUN
gujaf-42	285	7	,	,	PUNCT
gujaf-42	285	8	6	6	NUM
gujaf-42	285	9	,	,	PUNCT
gujaf-42	285	10	354	354	NUM
gujaf-42	285	11	-	-	SYM
gujaf-42	285	12	358	358	NUM
gujaf-42	285	13	.	.	PUNCT
gujaf-42	285	14	retrieved	retrieve	VERB
gujaf-42	285	15	from	from	ADP
gujaf-42	285	16	https://www.econjournals.com/index	https://www.econjournals.com/index	PROPN
gujaf-42	285	17	.	.	PUNCT
gujaf-42	286	1	php	php	PROPN
gujaf-42	286	2	/	/	SYM
gujaf-42	286	3	irmm	irmm	ADJ
gujaf-42	286	4	/	/	SYM
gujaf-42	286	5	article	article	NOUN
gujaf-42	286	6	/	/	SYM
gujaf-42	286	7	view/5691	view/5691	NOUN
gujaf-42	286	8	thisday	thisday	NOUN
gujaf-42	286	9	(	(	PUNCT
gujaf-42	286	10	2017	2017	NUM
gujaf-42	286	11	)	)	PUNCT
gujaf-42	286	12	.	.	PUNCT
gujaf-42	287	1	https://www.thisdaylive.com/index.php/2017/09/22/cashrequirement-for-forward-dollar-purchases-causes-naira-shortage/	https://www.thisdaylive.com/index.php/2017/09/22/cashrequirement-for-forward-dollar-purchases-causes-naira-shortage/	PROPN
gujaf-42	287	2	thisday	thisday	NOUN
gujaf-42	287	3	(	(	PUNCT
gujaf-42	287	4	2020).https://www.thisdaylive.com	2020).https://www.thisdaylive.com	NUM
gujaf-42	287	5	/	/	SYM
gujaf-42	287	6	index.php/2020/05/03	index.php/2020/05/03	PROPN
gujaf-42	287	7	/	/	SYM
gujaf-42	287	8	oil	oil	NOUN
gujaf-42	287	9	-	-	PUNCT
gujaf-42	287	10	gas	gas	NOUN
gujaf-42	287	11	-	-	PUNCT
gujaf-42	287	12	firmsgrapple	firmsgrapple	NOUN
gujaf-42	287	13	-	-	PUNCT
gujaf-42	287	14	with	with	ADP
gujaf-42	287	15	-	-	PUNCT
gujaf-42	287	16	huge	huge	ADJ
gujaf-42	287	17	-	-	PUNCT
gujaf-42	287	18	debt	debt	NOUN
gujaf-42	287	19	-	-	PUNCT
gujaf-42	287	20	burden	burden	NOUN
gujaf-42	287	21	-	-	PUNCT
gujaf-42	287	22	as	as	ADP
gujaf-42	287	23	-	-	PUNCT
gujaf-42	287	24	prices	price	NOUN
gujaf-42	287	25	-	-	PUNCT
gujaf-42	287	26	crash/	crash/	NUM
gujaf-42	287	27	https://doi.org/10.1016/j.%20emj.2013.01.003	https://doi.org/10.1016/j.%20emj.2013.01.003	ADJ
gujaf-42	287	28	https://www.proshareng.com/news/general/why-companies-will-continue-to-leave-nigeria-for-ghana-/7324	https://www.proshareng.com/news/general/why-companies-will-continue-to-leave-nigeria-for-ghana-/7324	PROPN
gujaf-42	287	29	https://www.proshareng.com/news/general/why-companies-will-continue-to-leave-nigeria-for-ghana-/7324	https://www.proshareng.com/news/general/why-companies-will-continue-to-leave-nigeria-for-ghana-/7324	ADJ
gujaf-42	287	30	http://www.econjournals.com/index.%20php/irmm/article/view/5691	http://www.econjournals.com/index.%20php/irmm/article/view/5691	PROPN
gujaf-42	287	31	https://www.thisdaylive.com/index.php/2017/09/22/cash-requirement-for-forward-dollar-purchases-causes-naira-shortage/	https://www.thisdaylive.com/index.php/2017/09/22/cash-requirement-for-forward-dollar-purchases-causes-naira-shortage/	PROPN
gujaf-42	287	32	https://www.thisdaylive.com/index.php/2017/09/22/cash-requirement-for-forward-dollar-purchases-causes-naira-shortage/	https://www.thisdaylive.com/index.php/2017/09/22/cash-requirement-for-forward-dollar-purchases-causes-naira-shortage/	PROPN
gujaf-42	287	33	https://www.thisdaylive.com/index.php/2020/05/03/oil-gas-firms-grapple-with-huge-debt-burden-as-prices-crash/	https://www.thisdaylive.com/index.php/2020/05/03/oil-gas-firms-grapple-with-huge-debt-burden-as-prices-crash/	ADV
gujaf-42	287	34	https://www.thisdaylive.com/index.php/2020/05/03/oil-gas-firms-grapple-with-huge-debt-burden-as-prices-crash/	https://www.thisdaylive.com/index.php/2020/05/03/oil-gas-firms-grapple-with-huge-debt-burden-as-prices-crash/	ADV