id	sid	tid	token	lemma	pos
gujaf-441	1	1	microsoft	microsoft	PROPN
gujaf-441	1	2	word	word	PROPN
gujaf-441	1	3	005mw	005mw	PROPN
gujaf-441	1	4	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	1	5	,	,	PUNCT
gujaf-441	1	6	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	1	7	gusau	gusau	ADJ
gujaf-441	1	8	journal	journal	NOUN
gujaf-441	1	9	of	of	ADP
gujaf-441	1	10	accountingandfinance	accountingandfinance	NOUN
gujaf-441	1	11	(	(	PUNCT
gujaf-441	1	12	gujaf	gujaf	NOUN
gujaf-441	1	13	)	)	PUNCT
gujaf-441	2	1	vol.5issue1,april,2024issn:2756	vol.5issue1,april,2024issn:2756	NOUN
gujaf-441	2	2	-	-	PUNCT
gujaf-441	2	3	665x	665x	PROPN
gujaf-441	2	4	a	a	DET
gujaf-441	2	5	publication	publication	NOUN
gujaf-441	2	6	of	of	ADP
gujaf-441	2	7	departmentofaccountingandfinance	departmentofaccountingandfinance	NOUN
gujaf-441	2	8	,	,	PUNCT
gujaf-441	2	9	faculty	faculty	NOUN
gujaf-441	2	10	of	of	ADP
gujaf-441	2	11	management	management	NOUN
gujaf-441	2	12	and	and	CCONJ
gujaf-441	2	13	social	social	ADJ
gujaf-441	2	14	sciences	science	NOUN
gujaf-441	2	15	,	,	PUNCT
gujaf-441	2	16	federaluniversitygusau	federaluniversitygusau	ADJ
gujaf-441	2	17	,	,	PUNCT
gujaf-441	2	18	zamfarastate	zamfarastate	PROPN
gujaf-441	2	19	-	-	PUNCT
gujaf-441	2	20	nigeria	nigeria	PROPN
gujaf-441	2	21	©	©	PROPN
gujaf-441	2	22	departmentofaccountingandfinance	departmentofaccountingandfinance	NOUN
gujaf-441	2	23	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	2	24	,	,	PUNCT
gujaf-441	2	25	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	2	26	ii	ii	PROPN
gujaf-441	2	27	vol.5issue1	vol.5issue1	PROPN
gujaf-441	2	28	april	april	PROPN
gujaf-441	2	29	,	,	PUNCT
gujaf-441	2	30	2024	2024	NUM
gujaf-441	2	31	issn:2756	issn:2756	NOUN
gujaf-441	2	32	-	-	PUNCT
gujaf-441	2	33	665x	665x	NOUN
gujaf-441	2	34	a	a	DET
gujaf-441	2	35	publication	publication	NOUN
gujaf-441	2	36	of	of	ADP
gujaf-441	2	37	departmentofaccountingandfinance	departmentofaccountingandfinance	NOUN
gujaf-441	2	38	,	,	PUNCT
gujaf-441	2	39	faculty	faculty	NOUN
gujaf-441	2	40	of	of	ADP
gujaf-441	2	41	management	management	NOUN
gujaf-441	2	42	and	and	CCONJ
gujaf-441	2	43	social	social	ADJ
gujaf-441	2	44	sciences	science	NOUN
gujaf-441	2	45	,	,	PUNCT
gujaf-441	2	46	federaluniversitygusau	federaluniversitygusau	ADJ
gujaf-441	2	47	,	,	PUNCT
gujaf-441	2	48	zamfarastate	zamfarastate	NOUN
gujaf-441	2	49	-	-	PUNCT
gujaf-441	2	50	nigeria	nigeria	PROPN
gujaf-441	2	51	all	all	PRON
gujaf-441	2	52	rightsreserved	rightsreserve	VERB
gujaf-441	2	53	except	except	SCONJ
gujaf-441	2	54	for	for	ADP
gujaf-441	2	55	academic	academic	ADJ
gujaf-441	2	56	purposes	purpose	NOUN
gujaf-441	2	57	no	no	DET
gujaf-441	2	58	part	part	NOUN
gujaf-441	2	59	or	or	CCONJ
gujaf-441	2	60	whole	whole	NOUN
gujaf-441	2	61	of	of	ADP
gujaf-441	2	62	this	this	DET
gujaf-441	2	63	publication	publication	NOUN
gujaf-441	2	64	is	be	AUX
gujaf-441	2	65	allowed	allow	VERB
gujaf-441	2	66	to	to	PART
gujaf-441	2	67	be	be	AUX
gujaf-441	2	68	reproduced	reproduce	VERB
gujaf-441	2	69	,	,	PUNCT
gujaf-441	2	70	stored	store	VERB
gujaf-441	2	71	in	in	ADP
gujaf-441	2	72	a	a	DET
gujaf-441	2	73	retrieval	retrieval	NOUN
gujaf-441	2	74	system	system	NOUN
gujaf-441	2	75	or	or	CCONJ
gujaf-441	2	76	transmitted	transmit	VERB
gujaf-441	2	77	in	in	ADP
gujaf-441	2	78	any	any	DET
gujaf-441	2	79	form	form	NOUN
gujaf-441	2	80	or	or	CCONJ
gujaf-441	2	81	by	by	ADP
gujaf-441	2	82	any	any	DET
gujaf-441	2	83	means	mean	NOUN
gujaf-441	2	84	be	be	AUX
gujaf-441	2	85	it	it	PRON
gujaf-441	2	86	mechanical	mechanical	ADJ
gujaf-441	2	87	,	,	PUNCT
gujaf-441	2	88	electrical	electrical	ADJ
gujaf-441	2	89	,	,	PUNCT
gujaf-441	2	90	photocopying	photocopying	NOUN
gujaf-441	2	91	,	,	PUNCT
gujaf-441	2	92	recordingorotherwise	recordingorotherwise	ADJ
gujaf-441	2	93	,	,	PUNCT
gujaf-441	2	94	withoutpriorpermissionofthe	withoutpriorpermissionofthe	DET
gujaf-441	2	95	copyright	copyright	NOUN
gujaf-441	2	96	owner	owner	NOUN
gujaf-441	2	97	.	.	PUNCT
gujaf-441	3	1	publishedandprinted	publishedandprinte	VERB
gujaf-441	3	2	by	by	ADP
gujaf-441	3	3	:	:	PUNCT
gujaf-441	3	4	ahmadubellouniversitypresslimited	ahmadubellouniversitypresslimite	VERB
gujaf-441	3	5	,	,	PUNCT
gujaf-441	3	6	zaria	zaria	PROPN
gujaf-441	3	7	kaduna	kaduna	PROPN
gujaf-441	3	8	state	state	PROPN
gujaf-441	3	9	,	,	PUNCT
gujaf-441	3	10	nigeria	nigeria	PROPN
gujaf-441	3	11	.	.	PUNCT
gujaf-441	4	1	tel:08065949711,069	tel:08065949711,069	NOUN
gujaf-441	4	2	-	-	SYM
gujaf-441	4	3	879121	879121	NUM
gujaf-441	4	4	e	e	NOUN
gujaf-441	4	5	-	-	NOUN
gujaf-441	4	6	mail	mail	NOUN
gujaf-441	4	7	:	:	PUNCT
gujaf-441	4	8	abupress2013@gmail.comabupress2020@y	abupress2013@gmail.comabupress2020@y	X
gujaf-441	4	9	ahoo.com	ahoo.com	X
gujaf-441	4	10	website	website	NOUN
gujaf-441	4	11	:	:	PUNCT
gujaf-441	4	12	www.abupress.com.ng	www.abupress.com.ng	ADJ
gujaf-441	4	13	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	4	14	,	,	PUNCT
gujaf-441	4	15	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	4	16	iii	iii	NUM
gujaf-441	4	17	editorialboard	editorialboard	NOUN
gujaf-441	4	18	editor	editor	NOUN
gujaf-441	4	19	-	-	PUNCT
gujaf-441	4	20	in	in	ADP
gujaf-441	4	21	-	-	PUNCT
gujaf-441	4	22	chief	chief	NOUN
gujaf-441	4	23	:	:	PUNCT
gujaf-441	4	24	prof.shehuusman	prof.shehuusman	PROPN
gujaf-441	4	25	hassan	hassan	PROPN
gujaf-441	4	26	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	4	27	,	,	PUNCT
gujaf-441	4	28	federaluniversityofkashere	federaluniversityofkashere	NOUN
gujaf-441	4	29	,	,	PUNCT
gujaf-441	4	30	gombe	gombe	ADJ
gujaf-441	4	31	state	state	NOUN
gujaf-441	4	32	.	.	PUNCT
gujaf-441	5	1	associate	associate	PROPN
gujaf-441	5	2	editor	editor	NOUN
gujaf-441	5	3	:	:	PUNCT
gujaf-441	5	4	dr.muhammadmustapha	dr.muhammadmustapha	X
gujaf-441	6	1	bagudo	bagudo	PROPN
gujaf-441	6	2	departmentofaccounting	departmentofaccounting	NOUN
gujaf-441	6	3	,	,	PUNCT
gujaf-441	6	4	ahmadu	ahmadu	NOUN
gujaf-441	6	5	bellouniversityzaria	bellouniversityzaria	NOUN
gujaf-441	6	6	,	,	PUNCT
gujaf-441	6	7	kaduna	kaduna	PROPN
gujaf-441	6	8	state	state	PROPN
gujaf-441	6	9	.	.	PUNCT
gujaf-441	7	1	managingeditor	managingeditor	NOUN
gujaf-441	7	2	:	:	PUNCT
gujaf-441	7	3	umarfaroukabdulkarim	umarfaroukabdulkarim	PROPN
gujaf-441	7	4	departmentofaccountingand	departmentofaccountingand	NOUN
gujaf-441	7	5	finance	finance	NOUN
gujaf-441	7	6	,	,	PUNCT
gujaf-441	7	7	federaluniversitygusau	federaluniversitygusau	ADJ
gujaf-441	7	8	,	,	PUNCT
gujaf-441	7	9	zamfarastate	zamfarastate	NOUN
gujaf-441	7	10	.	.	PUNCT
gujaf-441	8	1	editorial	editorial	NOUN
gujaf-441	8	2	board	board	NOUN
gujaf-441	8	3	prof.ahmadmodukumshe	prof.ahmadmodukumshe	PRON
gujaf-441	8	4	departmentof	departmentof	VERB
gujaf-441	8	5	accounting	account	VERB
gujaf-441	8	6	,	,	PUNCT
gujaf-441	8	7	universityofmaiduguri	universityofmaiduguri	NOUN
gujaf-441	8	8	,	,	PUNCT
gujaf-441	8	9	bornostate	bornostate	NOUN
gujaf-441	8	10	.	.	PUNCT
gujaf-441	9	1	profugochukwuc.nzewi	profugochukwuc.nzewi	NUM
gujaf-441	9	2	departmentof	departmentof	PROPN
gujaf-441	9	3	accounting	accounting	NOUN
gujaf-441	9	4	,	,	PUNCT
gujaf-441	9	5	pauluniversityawka	pauluniversityawka	NOUN
gujaf-441	9	6	,	,	PUNCT
gujaf-441	9	7	anambrastate	anambrastate	ADJ
gujaf-441	9	8	.	.	PUNCT
gujaf-441	10	1	prof	prof	PROPN
gujaf-441	10	2	kabirtahirhamid	kabirtahirhamid	PROPN
gujaf-441	10	3	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	10	4	,	,	PUNCT
gujaf-441	10	5	bayerouniversity	bayerouniversity	NOUN
gujaf-441	10	6	,	,	PUNCT
gujaf-441	10	7	kano	kano	PROPN
gujaf-441	10	8	,	,	PUNCT
gujaf-441	10	9	kano	kano	PROPN
gujaf-441	10	10	state	state	PROPN
gujaf-441	10	11	.	.	PUNCT
gujaf-441	11	1	prof.ekojab.ekoja	prof.ekojab.ekoja	PROPN
gujaf-441	11	2	departmentof	departmentof	PROPN
gujaf-441	11	3	accounting	account	VERB
gujaf-441	11	4	,	,	PUNCT
gujaf-441	11	5	universityof	universityof	PROPN
gujaf-441	11	6	jos	jos	PROPN
gujaf-441	11	7	.	.	PROPN
gujaf-441	12	1	prof.cliffordofurum	prof.cliffordofurum	PROPN
gujaf-441	12	2	departmentof	departmentof	PROPN
gujaf-441	12	3	accounting	account	VERB
gujaf-441	12	4	,	,	PUNCT
gujaf-441	12	5	universityof	universityof	PROPN
gujaf-441	12	6	portharcourt	portharcourt	PROPN
gujaf-441	12	7	,	,	PUNCT
gujaf-441	12	8	rivers	river	NOUN
gujaf-441	12	9	state	state	NOUN
gujaf-441	12	10	.	.	PUNCT
gujaf-441	13	1	prof.ahmadbello	prof.ahmadbello	PROPN
gujaf-441	13	2	dogarawa	dogarawa	PROPN
gujaf-441	13	3	departmentof	departmentof	PROPN
gujaf-441	13	4	accounting	accounting	NOUN
gujaf-441	13	5	,	,	PUNCT
gujaf-441	13	6	ahmadubellouniversityzaria	ahmadubellouniversityzaria	PROPN
gujaf-441	13	7	.	.	PUNCT
gujaf-441	14	1	prof.yusuf.b	prof.yusuf.b	PROPN
gujaf-441	14	2	.	.	PUNCT
gujaf-441	15	1	rahman	rahman	PROPN
gujaf-441	15	2	departmentofaccounting	departmentofaccounting	NOUN
gujaf-441	15	3	,	,	PUNCT
gujaf-441	15	4	lagosstateuniversity	lagosstateuniversity	NOUN
gujaf-441	15	5	,	,	PUNCT
gujaf-441	15	6	lagos	lagos	NOUN
gujaf-441	15	7	state	state	NOUN
gujaf-441	15	8	.	.	PUNCT
gujaf-441	16	1	prof.suleimana.s.aruwa	prof.suleimana.s.aruwa	PROPN
gujaf-441	16	2	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	16	3	,	,	PUNCT
gujaf-441	16	4	nasarawastateuniversity	nasarawastateuniversity	NOUN
gujaf-441	16	5	,	,	PUNCT
gujaf-441	16	6	keffi	keffi	PROPN
gujaf-441	16	7	,	,	PUNCT
gujaf-441	16	8	nasarawa	nasarawa	PROPN
gujaf-441	16	9	state	state	NOUN
gujaf-441	16	10	.	.	PUNCT
gujaf-441	17	1	prof.muhammadjunaidu	prof.muhammadjunaidu	PROPN
gujaf-441	17	2	kurawa	kurawa	PROPN
gujaf-441	17	3	departmentof	departmentof	PROPN
gujaf-441	17	4	accounting	accounting	PROPN
gujaf-441	17	5	,	,	PUNCT
gujaf-441	17	6	bayerouniversitykano	bayerouniversitykano	NOUN
gujaf-441	17	7	,	,	PUNCT
gujaf-441	17	8	kanostate	kanostate	ADJ
gujaf-441	17	9	.	.	PUNCT
gujaf-441	18	1	prof.muhammadhabibusabari	prof.muhammadhabibusabari	PROPN
gujaf-441	18	2	departmentofaccounting	departmentofaccounting	NOUN
gujaf-441	18	3	,	,	PUNCT
gujaf-441	18	4	ahmadu	ahmadu	NOUN
gujaf-441	18	5	bellouniversity	bellouniversity	NOUN
gujaf-441	18	6	,	,	PUNCT
gujaf-441	18	7	zaria	zaria	PROPN
gujaf-441	18	8	.	.	PUNCT
gujaf-441	19	1	prof.okpanachijoshua	prof.okpanachijoshua	PROPN
gujaf-441	19	2	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	19	3	,	,	PUNCT
gujaf-441	19	4	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	19	5	iv	iv	NUM
gujaf-441	19	6	departmentof	departmentof	PROPN
gujaf-441	19	7	accountingandmanagement	accountingandmanagement	NOUN
gujaf-441	19	8	,	,	PUNCT
gujaf-441	19	9	nigeriandefenceacademy	nigeriandefenceacademy	PROPN
gujaf-441	19	10	,	,	PUNCT
gujaf-441	19	11	kaduna	kaduna	PROPN
gujaf-441	19	12	.	.	PUNCT
gujaf-441	20	1	prof.hassanibrahim	prof.hassanibrahim	PROPN
gujaf-441	20	2	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	20	3	,	,	PUNCT
gujaf-441	20	4	ibbuniversity	ibbuniversity	NOUN
gujaf-441	20	5	,	,	PUNCT
gujaf-441	20	6	lapai	lapai	NOUN
gujaf-441	20	7	,	,	PUNCT
gujaf-441	20	8	niger	niger	NOUN
gujaf-441	20	9	state	state	NOUN
gujaf-441	20	10	.	.	PUNCT
gujaf-441	21	1	prof.ifeomamaryokwo	prof.ifeomamaryokwo	PROPN
gujaf-441	21	2	departmentofaccounting	departmentofaccounting	NOUN
gujaf-441	21	3	,	,	PUNCT
gujaf-441	21	4	enugustateuniversityofscienceandtechnology	enugustateuniversityofscienceandtechnology	NOUN
gujaf-441	21	5	,	,	PUNCT
gujaf-441	21	6	enugustate	enugustate	NOUN
gujaf-441	21	7	.	.	PUNCT
gujaf-441	22	1	prof.aminuisah	prof.aminuisah	NOUN
gujaf-441	22	2	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	22	3	,	,	PUNCT
gujaf-441	22	4	bayerouniversity	bayerouniversity	NOUN
gujaf-441	22	5	,	,	PUNCT
gujaf-441	22	6	kano	kano	PROPN
gujaf-441	22	7	,	,	PUNCT
gujaf-441	22	8	kano	kano	PROPN
gujaf-441	22	9	state	state	PROPN
gujaf-441	22	10	.	.	PUNCT
gujaf-441	23	1	prof.ahmadubello	prof.ahmadubello	ADJ
gujaf-441	23	2	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	23	3	,	,	PUNCT
gujaf-441	23	4	ahmadu	ahmadu	NOUN
gujaf-441	23	5	bellouniversity	bellouniversity	NOUN
gujaf-441	23	6	,	,	PUNCT
gujaf-441	23	7	zaria	zaria	PROPN
gujaf-441	23	8	.	.	PUNCT
gujaf-441	24	1	prof.musayelwaabubakar	prof.musayelwaabubakar	PROPN
gujaf-441	24	2	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	24	3	,	,	PUNCT
gujaf-441	24	4	usmanu	usmanu	PROPN
gujaf-441	24	5	danfodiyouniversity	danfodiyouniversity	PROPN
gujaf-441	24	6	,	,	PUNCT
gujaf-441	24	7	sokoto	sokoto	PROPN
gujaf-441	24	8	state	state	PROPN
gujaf-441	24	9	.	.	PUNCT
gujaf-441	25	1	prof.salisuabubakar	prof.salisuabubakar	ADJ
gujaf-441	25	2	departmentofaccounting	departmentofaccounte	VERB
gujaf-441	25	3	,	,	PUNCT
gujaf-441	25	4	ahmadu	ahmadu	NOUN
gujaf-441	25	5	bellouniversityzaria	bellouniversityzaria	NOUN
gujaf-441	25	6	,	,	PUNCT
gujaf-441	25	7	kaduna	kaduna	PROPN
gujaf-441	25	8	state	state	PROPN
gujaf-441	25	9	.	.	PUNCT
gujaf-441	26	1	prof.sunusisa'ad	prof.sunusisa'ad	PROPN
gujaf-441	26	2	ahmad	ahmad	PROPN
gujaf-441	26	3	departmentof	departmentof	PROPN
gujaf-441	26	4	accounting	accounting	NOUN
gujaf-441	26	5	,	,	PUNCT
gujaf-441	26	6	federaluniversitydutse	federaluniversitydutse	NOUN
gujaf-441	26	7	,	,	PUNCT
gujaf-441	26	8	jigawastate	jigawastate	NOUN
gujaf-441	26	9	.	.	PUNCT
gujaf-441	27	1	prof.isaq	prof.isaq	AUX
gujaf-441	27	2	alhajisamaila	alhajisamaila	ADJ
gujaf-441	27	3	departmentofaccounting	departmentofaccounting	NOUN
gujaf-441	27	4	,	,	PUNCT
gujaf-441	27	5	bayerouniversity	bayerouniversity	NOUN
gujaf-441	27	6	,	,	PUNCT
gujaf-441	27	7	kano	kano	PROPN
gujaf-441	27	8	state	state	PROPN
gujaf-441	27	9	.	.	PUNCT
gujaf-441	28	1	dr.fatimaalfa	dr.fatimaalfa	PROPN
gujaf-441	28	2	departmentofaccounting	departmentofaccounting	NOUN
gujaf-441	28	3	,	,	PUNCT
gujaf-441	28	4	universityofmaiduguri	universityofmaiduguri	NOUN
gujaf-441	28	5	,	,	PUNCT
gujaf-441	28	6	bornostate	bornostate	NOUN
gujaf-441	28	7	.	.	PUNCT
gujaf-441	29	1	dr.nasirua.ka’oje	dr.nasirua.ka’oje	VERB
gujaf-441	29	2	departmentof	departmentof	PROPN
gujaf-441	29	3	accounting	account	VERB
gujaf-441	29	4	,	,	PUNCT
gujaf-441	29	5	usmanudanfodiyouniversitysokotostate	usmanudanfodiyouniversitysokotostate	NOUN
gujaf-441	29	6	.	.	PUNCT
gujaf-441	30	1	dr.aminu	dr.aminu	PROPN
gujaf-441	31	1	abdullahi	abdullahi	PROPN
gujaf-441	31	2	departmentof	departmentof	PROPN
gujaf-441	31	3	accounting	account	VERB
gujaf-441	31	4	,	,	PUNCT
gujaf-441	31	5	usmanudanfodiyouniversitysokoto	usmanudanfodiyouniversitysokoto	ADJ
gujaf-441	31	6	,	,	PUNCT
gujaf-441	31	7	state	state	NOUN
gujaf-441	31	8	.	.	PUNCT
gujaf-441	32	1	dr.onipeadebenege	dr.onipeadebenege	PROPN
gujaf-441	32	2	yahaya	yahaya	PROPN
gujaf-441	32	3	departmentofaccounting	departmentofaccounting	NOUN
gujaf-441	32	4	,	,	PUNCT
gujaf-441	32	5	nigeriandefenceacademy	nigeriandefenceacademy	PROPN
gujaf-441	32	6	,	,	PUNCT
gujaf-441	32	7	kaduna	kaduna	PROPN
gujaf-441	32	8	state	state	PROPN
gujaf-441	32	9	.	.	PUNCT
gujaf-441	33	1	dr.saidu	dr.saidu	PROPN
gujaf-441	33	2	adamu	adamu	PROPN
gujaf-441	33	3	departmentofaccounting	departmentofaccounting	PROPN
gujaf-441	33	4	,	,	PUNCT
gujaf-441	33	5	federaluniversityofkashere	federaluniversityofkashere	NOUN
gujaf-441	33	6	,	,	PUNCT
gujaf-441	33	7	gombe	gombe	ADJ
gujaf-441	33	8	state	state	NOUN
gujaf-441	33	9	.	.	PUNCT
gujaf-441	34	1	dr.nasiruyunusa	dr.nasiruyunusa	X
gujaf-441	34	2	departmentof	departmentof	PROPN
gujaf-441	34	3	accounting	accounting	PROPN
gujaf-441	34	4	,	,	PUNCT
gujaf-441	34	5	ahmadubellouniversityzaria	ahmadubellouniversityzaria	PROPN
gujaf-441	34	6	.	.	PUNCT
gujaf-441	35	1	dr.aisha	dr.aisha	PROPN
gujaf-441	35	2	nuhu	nuhu	PROPN
gujaf-441	35	3	muhammad	muhammad	PROPN
gujaf-441	35	4	departmentof	departmentof	PROPN
gujaf-441	35	5	accounting	accounting	PROPN
gujaf-441	35	6	,	,	PUNCT
gujaf-441	35	7	ahmadubellouniversityzaria	ahmadubellouniversityzaria	PROPN
gujaf-441	35	8	.	.	PUNCT
gujaf-441	36	1	dr	dr	PROPN
gujaf-441	36	2	.	.	PROPN
gujaf-441	36	3	lawal	lawal	PROPN
gujaf-441	36	4	muhammad	muhammad	PROPN
gujaf-441	36	5	departmentof	departmentof	PROPN
gujaf-441	36	6	accounting	accounting	PROPN
gujaf-441	36	7	,	,	PUNCT
gujaf-441	36	8	ahmadubellouniversityzaria	ahmadubellouniversityzaria	PROPN
gujaf-441	36	9	.	.	PUNCT
gujaf-441	37	1	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	37	2	,	,	PUNCT
gujaf-441	37	3	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	37	4	v	v	NOUN
gujaf-441	37	5	dr.farouk	dr.farouk	ADP
gujaf-441	37	6	adeza	adeza	PROPN
gujaf-441	37	7	schoolofbusinessandentrepreneurship	schoolofbusinessandentrepreneurship	PROPN
gujaf-441	37	8	,	,	PUNCT
gujaf-441	37	9	americanuniversityofnigeria	americanuniversityofnigeria	PROPN
gujaf-441	37	10	,	,	PUNCT
gujaf-441	37	11	yola	yola	PROPN
gujaf-441	37	12	.	.	PUNCT
gujaf-441	38	1	dr.bashirumar	dr.bashirumar	PROPN
gujaf-441	38	2	farouk	farouk	PROPN
gujaf-441	38	3	departmentofeconomics	departmentofeconomics	PROPN
gujaf-441	38	4	,	,	PUNCT
gujaf-441	38	5	federaluniversitygusau	federaluniversitygusau	ADJ
gujaf-441	38	6	,	,	PUNCT
gujaf-441	38	7	zamfara	zamfara	PROPN
gujaf-441	38	8	state	state	PROPN
gujaf-441	38	9	.	.	PUNCT
gujaf-441	39	1	dremmanuel	dremmanuel	PROPN
gujaf-441	39	2	omokhuale	omokhuale	PROPN
gujaf-441	39	3	departmentofmathematics	departmentofmathematic	NOUN
gujaf-441	39	4	,	,	PUNCT
gujaf-441	39	5	federaluniversitygusau	federaluniversitygusau	ADJ
gujaf-441	39	6	,	,	PUNCT
gujaf-441	39	7	zamfara	zamfara	PROPN
gujaf-441	39	8	.	.	PUNCT
gujaf-441	40	1	state	state	PROPN
gujaf-441	40	2	advisoryboardmembers	advisoryboardmember	NOUN
gujaf-441	40	3	prof	prof	PROPN
gujaf-441	40	4	.	.	PUNCT
gujaf-441	41	1	kabiru	kabiru	PROPN
gujaf-441	41	2	isah	isah	PROPN
gujaf-441	41	3	dandago	dandago	PROPN
gujaf-441	41	4	,	,	PUNCT
gujaf-441	41	5	bayero	bayero	PROPN
gujaf-441	41	6	university	university	PROPN
gujaf-441	41	7	kano	kano	PROPN
gujaf-441	41	8	,	,	PUNCT
gujaf-441	41	9	kano	kano	PROPN
gujaf-441	41	10	state.profambashir	state.profambashir	PROPN
gujaf-441	41	11	,	,	PUNCT
gujaf-441	41	12	usmanudanfodiyouniversitysokoto	usmanudanfodiyouniversitysokoto	ADJ
gujaf-441	41	13	,	,	PUNCT
gujaf-441	41	14	sokotostate	sokotostate	NOUN
gujaf-441	41	15	.	.	PUNCT
gujaf-441	42	1	prof	prof	PROPN
gujaf-441	42	2	.	.	PUNCT
gujaf-441	43	1	muhammad	muhammad	PROPN
gujaf-441	43	2	tanko	tanko	PROPN
gujaf-441	43	3	,	,	PUNCT
gujaf-441	43	4	kaduna	kaduna	PROPN
gujaf-441	43	5	state	state	PROPN
gujaf-441	43	6	university	university	PROPN
gujaf-441	43	7	,	,	PUNCT
gujaf-441	43	8	kaduna	kaduna	PROPN
gujaf-441	43	9	.	.	PUNCT
gujaf-441	43	10	prof.bayeroa	prof.bayeroa	NOUN
gujaf-441	43	11	msabir	msabir	NOUN
gujaf-441	43	12	,	,	PUNCT
gujaf-441	43	13	usmanudanfodiyo	usmanudanfodiyo	PROPN
gujaf-441	43	14	universitysokoto	universitysokoto	PROPN
gujaf-441	43	15	,	,	PUNCT
gujaf-441	43	16	sokoto	sokoto	PROPN
gujaf-441	43	17	state	state	PROPN
gujaf-441	43	18	.	.	PUNCT
gujaf-441	44	1	prof.aliyusulaimankantudu	prof.aliyusulaimankantudu	NOUN
gujaf-441	44	2	,	,	PUNCT
gujaf-441	44	3	bayerouniversitykano	bayerouniversitykano	NOUN
gujaf-441	44	4	,	,	PUNCT
gujaf-441	44	5	kanostate	kanostate	ADJ
gujaf-441	44	6	.	.	PUNCT
gujaf-441	45	1	editorial	editorial	PROPN
gujaf-441	45	2	secretary	secretary	PROPN
gujaf-441	45	3	yazidkabiribrahim	yazidkabiribrahim	PROPN
gujaf-441	45	4	departmentofaccountingand	departmentofaccountingand	PROPN
gujaf-441	45	5	finance	finance	NOUN
gujaf-441	45	6	,	,	PUNCT
gujaf-441	45	7	federaluniversitygusau	federaluniversitygusau	ADJ
gujaf-441	45	8	,	,	PUNCT
gujaf-441	45	9	zamfarastate	zamfarastate	NOUN
gujaf-441	45	10	.	.	PUNCT
gujaf-441	46	1	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	46	2	,	,	PUNCT
gujaf-441	46	3	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	46	4	vi	vi	NOUN
gujaf-441	46	5	callfor	callfor	NOUN
gujaf-441	46	6	papers	paper	NOUN
gujaf-441	46	7	the	the	DET
gujaf-441	46	8	editorial	editorial	PROPN
gujaf-441	46	9	board	board	NOUN
gujaf-441	46	10	of	of	ADP
gujaf-441	46	11	gusau	gusau	PROPN
gujaf-441	46	12	journal	journal	PROPN
gujaf-441	46	13	of	of	ADP
gujaf-441	46	14	accounting	accounting	NOUN
gujaf-441	46	15	and	and	CCONJ
gujaf-441	46	16	finance	finance	NOUN
gujaf-441	46	17	(	(	PUNCT
gujaf-441	46	18	gujaf	gujaf	NOUN
gujaf-441	46	19	)	)	PUNCT
gujaf-441	46	20	is	be	AUX
gujaf-441	46	21	hereby	hereby	ADV
gujaf-441	46	22	inviting	invite	VERB
gujaf-441	46	23	authors	author	NOUN
gujaf-441	46	24	to	to	PART
gujaf-441	46	25	submit	submit	VERB
gujaf-441	46	26	their	their	PRON
gujaf-441	46	27	unpublished	unpublished	ADJ
gujaf-441	46	28	manuscript	manuscript	NOUN
gujaf-441	46	29	for	for	ADP
gujaf-441	46	30	publication	publication	NOUN
gujaf-441	46	31	.	.	PUNCT
gujaf-441	47	1	the	the	DET
gujaf-441	47	2	journal	journal	NOUN
gujaf-441	47	3	is	be	AUX
gujaf-441	47	4	published	publish	VERB
gujaf-441	47	5	in	in	ADP
gujaf-441	47	6	two	two	NUM
gujaf-441	47	7	issues	issue	NOUN
gujaf-441	47	8	of	of	ADP
gujaf-441	47	9	april	april	PROPN
gujaf-441	47	10	and	and	CCONJ
gujaf-441	47	11	october	october	PROPN
gujaf-441	47	12	annually	annually	ADV
gujaf-441	47	13	.	.	PUNCT
gujaf-441	48	1	gujaf	gujaf	NOUN
gujaf-441	48	2	is	be	AUX
gujaf-441	48	3	a	a	DET
gujaf-441	48	4	double	double	ADJ
gujaf-441	48	5	-	-	PUNCT
gujaf-441	48	6	blind	blind	ADJ
gujaf-441	48	7	peer	peer	NOUN
gujaf-441	48	8	reviewed	review	VERB
gujaf-441	48	9	journal	journal	NOUN
gujaf-441	48	10	published	publish	VERB
gujaf-441	48	11	by	by	ADP
gujaf-441	48	12	the	the	DET
gujaf-441	48	13	department	department	NOUN
gujaf-441	48	14	of	of	ADP
gujaf-441	48	15	accounting	accounting	NOUN
gujaf-441	48	16	and	and	CCONJ
gujaf-441	48	17	finance	finance	NOUN
gujaf-441	48	18	,	,	PUNCT
gujaf-441	48	19	faculty	faculty	NOUN
gujaf-441	48	20	of	of	ADP
gujaf-441	48	21	management	management	NOUN
gujaf-441	48	22	and	and	CCONJ
gujaf-441	48	23	social	social	ADJ
gujaf-441	48	24	sciences	science	NOUN
gujaf-441	48	25	,	,	PUNCT
gujaf-441	48	26	federal	federal	ADJ
gujaf-441	48	27	universitygusau	universitygusau	NOUN
gujaf-441	48	28	,	,	PUNCT
gujaf-441	48	29	zamfara	zamfara	PROPN
gujaf-441	48	30	state	state	PROPN
gujaf-441	48	31	nigeria	nigeria	PROPN
gujaf-441	48	32	the	the	DET
gujaf-441	48	33	journal	journal	PROPN
gujaf-441	48	34	accepts	accept	VERB
gujaf-441	48	35	papersin	papersin	NOUN
gujaf-441	48	36	all	all	DET
gujaf-441	48	37	areas	area	NOUN
gujaf-441	48	38	of	of	ADP
gujaf-441	48	39	accounting	accounting	NOUN
gujaf-441	48	40	and	and	CCONJ
gujaf-441	48	41	finance	finance	NOUN
gujaf-441	48	42	for	for	ADP
gujaf-441	48	43	publication	publication	NOUN
gujaf-441	48	44	which	which	PRON
gujaf-441	48	45	include	include	VERB
gujaf-441	48	46	:	:	PUNCT
gujaf-441	48	47	accounting	accounting	NOUN
gujaf-441	48	48	standards	standard	NOUN
gujaf-441	48	49	,	,	PUNCT
gujaf-441	48	50	accounting	account	VERB
gujaf-441	48	51	information	information	NOUN
gujaf-441	48	52	system	system	NOUN
gujaf-441	48	53	,	,	PUNCT
gujaf-441	48	54	financial	financial	ADJ
gujaf-441	48	55	reporting	reporting	NOUN
gujaf-441	48	56	,	,	PUNCT
gujaf-441	48	57	earnings	earning	NOUN
gujaf-441	48	58	management	management	NOUN
gujaf-441	48	59	,	,	PUNCT
gujaf-441	48	60	,	,	PUNCT
gujaf-441	48	61	auditing	auditing	NOUN
gujaf-441	48	62	and	and	CCONJ
gujaf-441	48	63	investigation	investigation	NOUN
gujaf-441	48	64	,	,	PUNCT
gujaf-441	48	65	auditing	auditing	NOUN
gujaf-441	48	66	and	and	CCONJ
gujaf-441	48	67	standards	standard	NOUN
gujaf-441	48	68	,	,	PUNCT
gujaf-441	48	69	public	public	ADJ
gujaf-441	48	70	sector	sector	NOUN
gujaf-441	48	71	accounting	accounting	NOUN
gujaf-441	48	72	and	and	CCONJ
gujaf-441	48	73	auditing	auditing	NOUN
gujaf-441	48	74	,	,	PUNCT
gujaf-441	48	75	taxation	taxation	NOUN
gujaf-441	48	76	and	and	CCONJ
gujaf-441	48	77	revenue	revenue	NOUN
gujaf-441	48	78	administration	administration	NOUN
gujaf-441	48	79	,	,	PUNCT
gujaf-441	48	80	corporate	corporate	ADJ
gujaf-441	48	81	governance	governance	NOUN
gujaf-441	48	82	issues	issue	NOUN
gujaf-441	48	83	,	,	PUNCT
gujaf-441	48	84	corporate	corporate	ADJ
gujaf-441	48	85	social	social	ADJ
gujaf-441	48	86	responsibility	responsibility	NOUN
gujaf-441	48	87	,	,	PUNCT
gujaf-441	48	88	sustainability	sustainability	NOUN
gujaf-441	48	89	and	and	CCONJ
gujaf-441	48	90	environmental	environmental	ADJ
gujaf-441	48	91	reporting	reporting	NOUN
gujaf-441	48	92	issue	issue	NOUN
gujaf-441	48	93	,	,	PUNCT
gujaf-441	48	94	information	information	NOUN
gujaf-441	48	95	and	and	CCONJ
gujaf-441	48	96	communication	communication	NOUN
gujaf-441	48	97	technologyissues	technologyissue	NOUN
gujaf-441	48	98	,	,	PUNCT
gujaf-441	48	99	bankruptcyprediction	bankruptcyprediction	NOUN
gujaf-441	48	100	,	,	PUNCT
gujaf-441	48	101	corporate	corporate	ADJ
gujaf-441	48	102	finance	finance	NOUN
gujaf-441	48	103	,	,	PUNCT
gujaf-441	48	104	personal	personal	ADJ
gujaf-441	48	105	finance	finance	NOUN
gujaf-441	48	106	,	,	PUNCT
gujaf-441	48	107	merger	merger	NOUN
gujaf-441	48	108	and	and	CCONJ
gujaf-441	48	109	acquisitions	acquisition	NOUN
gujaf-441	48	110	,	,	PUNCT
gujaf-441	48	111	capital	capital	NOUN
gujaf-441	48	112	structure	structure	NOUN
gujaf-441	48	113	,	,	PUNCT
gujaf-441	48	114	working	work	VERB
gujaf-441	48	115	capital	capital	NOUN
gujaf-441	48	116	management	management	NOUN
gujaf-441	48	117	,	,	PUNCT
gujaf-441	48	118	enterprises	enterprise	NOUN
gujaf-441	48	119	risk	risk	NOUN
gujaf-441	48	120	management	management	NOUN
gujaf-441	48	121	,	,	PUNCT
gujaf-441	48	122	entrepreneurship	entrepreneurship	NOUN
gujaf-441	48	123	,	,	PUNCT
gujaf-441	48	124	international	international	ADJ
gujaf-441	48	125	business	business	NOUN
gujaf-441	48	126	accounting	accounting	NOUN
gujaf-441	48	127	and	and	CCONJ
gujaf-441	48	128	finance	finance	NOUN
gujaf-441	48	129	,	,	PUNCT
gujaf-441	48	130	banking	banking	NOUN
gujaf-441	48	131	crises	crisis	NOUN
gujaf-441	48	132	,	,	PUNCT
gujaf-441	48	133	bank‘s	bank‘s	PROPN
gujaf-441	48	134	profitability	profitability	NOUN
gujaf-441	48	135	,	,	PUNCT
gujaf-441	48	136	risk	risk	NOUN
gujaf-441	48	137	and	and	CCONJ
gujaf-441	48	138	insurance	insurance	NOUN
gujaf-441	48	139	issue	issue	NOUN
gujaf-441	48	140	,	,	PUNCT
gujaf-441	48	141	islamic	islamic	ADJ
gujaf-441	48	142	finance	finance	NOUN
gujaf-441	48	143	,	,	PUNCT
gujaf-441	48	144	conventional	conventional	ADJ
gujaf-441	48	145	and	and	CCONJ
gujaf-441	48	146	islamic	islamic	ADJ
gujaf-441	48	147	banks	bank	NOUN
gujaf-441	48	148	and	and	CCONJ
gujaf-441	48	149	so	so	ADV
gujaf-441	48	150	forth	forth	ADV
gujaf-441	48	151	.	.	PUNCT
gujaf-441	49	1	guidelinesforsubmissionandmanuscript	guidelinesforsubmissionandmanuscript	ADJ
gujaf-441	49	2	format	format	NOUN
gujaf-441	49	3	the	the	DET
gujaf-441	49	4	submission	submission	NOUN
gujaf-441	49	5	language	language	NOUN
gujaf-441	49	6	is	be	AUX
gujaf-441	49	7	english	english	PROPN
gujaf-441	49	8	and	and	CCONJ
gujaf-441	49	9	must	must	AUX
gujaf-441	49	10	be	be	AUX
gujaf-441	49	11	a	a	DET
gujaf-441	49	12	well	well	ADV
gujaf-441	49	13	-	-	PUNCT
gujaf-441	49	14	researched	research	VERB
gujaf-441	49	15	original	original	ADJ
gujaf-441	49	16	manuscript	manuscript	NOUN
gujaf-441	49	17	that	that	PRON
gujaf-441	49	18	has	have	AUX
gujaf-441	49	19	not	not	PART
gujaf-441	49	20	previously	previously	ADV
gujaf-441	49	21	been	be	AUX
gujaf-441	49	22	submitted	submit	VERB
gujaf-441	49	23	elsewhere	elsewhere	ADV
gujaf-441	49	24	for	for	ADP
gujaf-441	49	25	publication	publication	NOUN
gujaf-441	49	26	.	.	PUNCT
gujaf-441	50	1	the	the	DET
gujaf-441	50	2	paper	paper	NOUN
gujaf-441	50	3	should	should	AUX
gujaf-441	50	4	not	not	PART
gujaf-441	50	5	exceed	exceed	VERB
gujaf-441	50	6	more	more	ADJ
gujaf-441	50	7	than	than	ADP
gujaf-441	50	8	15	15	NUM
gujaf-441	50	9	pages	page	NOUN
gujaf-441	50	10	on	on	ADP
gujaf-441	50	11	a4	a4	NOUN
gujaf-441	50	12	type	type	NOUN
gujaf-441	50	13	paper	paper	NOUN
gujaf-441	50	14	in	in	ADP
gujaf-441	50	15	ms	ms	ADJ
gujaf-441	50	16	-	-	PUNCT
gujaf-441	50	17	word	word	NOUN
gujaf-441	50	18	format	format	NOUN
gujaf-441	50	19	,	,	PUNCT
gujaf-441	50	20	1.5	1.5	NUM
gujaf-441	50	21	-	-	PUNCT
gujaf-441	50	22	line	line	NOUN
gujaf-441	50	23	spacing	spacing	NOUN
gujaf-441	50	24	,	,	PUNCT
gujaf-441	50	25	12	12	NUM
gujaf-441	50	26	font	font	NOUN
gujaf-441	50	27	size	size	NOUN
gujaf-441	50	28	in	in	ADP
gujaf-441	50	29	times	time	NOUN
gujaf-441	50	30	new	new	ADJ
gujaf-441	50	31	roman	roman	NOUN
gujaf-441	50	32	.	.	PUNCT
gujaf-441	51	1	manuscript	manuscript	NOUN
gujaf-441	51	2	should	should	AUX
gujaf-441	51	3	be	be	AUX
gujaf-441	51	4	tested	test	VERB
gujaf-441	51	5	for	for	ADP
gujaf-441	51	6	plagiarism	plagiarism	NOUN
gujaf-441	51	7	before	before	ADP
gujaf-441	51	8	submission	submission	NOUN
gujaf-441	51	9	,	,	PUNCT
gujaf-441	51	10	as	as	SCONJ
gujaf-441	51	11	the	the	DET
gujaf-441	51	12	maximum	maximum	ADJ
gujaf-441	51	13	similarity	similarity	NOUN
gujaf-441	51	14	index	index	NOUN
gujaf-441	51	15	acceptable	acceptable	ADJ
gujaf-441	51	16	by	by	ADP
gujaf-441	51	17	gujaf	gujaf	NOUN
gujaf-441	51	18	is	be	AUX
gujaf-441	51	19	25	25	NUM
gujaf-441	51	20	percent	percent	NOUN
gujaf-441	51	21	.	.	PUNCT
gujaf-441	52	1	furthermore	furthermore	ADV
gujaf-441	52	2	,	,	PUNCT
gujaf-441	52	3	the	the	DET
gujaf-441	52	4	length	length	NOUN
gujaf-441	52	5	of	of	ADP
gujaf-441	52	6	a	a	DET
gujaf-441	52	7	complete	complete	ADJ
gujaf-441	52	8	article	article	NOUN
gujaf-441	52	9	should	should	AUX
gujaf-441	52	10	not	not	PART
gujaf-441	52	11	exceed	exceed	VERB
gujaf-441	52	12	5000	5000	NUM
gujaf-441	52	13	words	word	NOUN
gujaf-441	52	14	including	include	VERB
gujaf-441	52	15	an	an	DET
gujaf-441	52	16	abstract	abstract	NOUN
gujaf-441	52	17	of	of	ADP
gujaf-441	52	18	not	not	PART
gujaf-441	52	19	more	more	ADJ
gujaf-441	52	20	than	than	ADP
gujaf-441	52	21	250	250	NUM
gujaf-441	52	22	words	word	NOUN
gujaf-441	52	23	with	with	ADP
gujaf-441	52	24	a	a	DET
gujaf-441	52	25	minimum	minimum	NOUN
gujaf-441	52	26	of	of	ADP
gujaf-441	52	27	four	four	NUM
gujaf-441	52	28	key	key	ADJ
gujaf-441	52	29	words	word	NOUN
gujaf-441	52	30	immediately	immediately	ADV
gujaf-441	52	31	after	after	ADP
gujaf-441	52	32	the	the	DET
gujaf-441	52	33	abstract	abstract	NOUN
gujaf-441	52	34	.	.	PUNCT
gujaf-441	53	1	all	all	DET
gujaf-441	53	2	references	reference	NOUN
gujaf-441	53	3	including	include	VERB
gujaf-441	53	4	in	in	ADP
gujaf-441	53	5	text	text	NOUN
gujaf-441	53	6	citation	citation	NOUN
gujaf-441	53	7	and	and	CCONJ
gujaf-441	53	8	reference	reference	NOUN
gujaf-441	53	9	list	list	NOUN
gujaf-441	53	10	,	,	PUNCT
gujaf-441	53	11	tables	table	NOUN
gujaf-441	53	12	and	and	CCONJ
gujaf-441	53	13	figures	figure	NOUN
gujaf-441	53	14	should	should	AUX
gujaf-441	53	15	be	be	AUX
gujaf-441	53	16	in	in	ADP
gujaf-441	53	17	line	line	NOUN
gujaf-441	53	18	with	with	ADP
gujaf-441	53	19	apa	apa	PROPN
gujaf-441	53	20	7th	7th	PROPN
gujaf-441	53	21	edition	edition	NOUN
gujaf-441	53	22	publication	publication	NOUN
gujaf-441	53	23	manual	manual	NOUN
gujaf-441	53	24	.	.	PUNCT
gujaf-441	54	1	finally	finally	ADV
gujaf-441	54	2	,	,	PUNCT
gujaf-441	54	3	manuscript	manuscript	NOUN
gujaf-441	54	4	should	should	AUX
gujaf-441	54	5	be	be	AUX
gujaf-441	54	6	send	send	VERB
gujaf-441	54	7	to	to	ADP
gujaf-441	54	8	our	our	PRON
gujaf-441	54	9	email	email	NOUN
gujaf-441	54	10	address	address	NOUN
gujaf-441	54	11	elfarouk105@gmail.comand	elfarouk105@gmail.comand	PROPN
gujaf-441	54	12	a	a	DET
gujaf-441	54	13	copy	copy	NOUN
gujaf-441	54	14	to	to	ADP
gujaf-441	54	15	our	our	PRON
gujaf-441	54	16	website	website	NOUN
gujaf-441	54	17	on	on	ADP
gujaf-441	54	18	journals.gujaf.com.ng	journals.gujaf.com.ng	PROPN
gujaf-441	54	19	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	54	20	,	,	PUNCT
gujaf-441	54	21	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	54	22	vii	vii	NOUN
gujaf-441	54	23	publication	publication	NOUN
gujaf-441	54	24	procedure	procedure	NOUN
gujaf-441	54	25	after	after	ADP
gujaf-441	54	26	receiving	receive	VERB
gujaf-441	54	27	a	a	DET
gujaf-441	54	28	manuscript	manuscript	NOUN
gujaf-441	54	29	that	that	PRON
gujaf-441	54	30	is	be	AUX
gujaf-441	54	31	within	within	ADP
gujaf-441	54	32	the	the	DET
gujaf-441	54	33	similarity	similarity	NOUN
gujaf-441	54	34	index	index	NOUN
gujaf-441	54	35	threshold	threshold	NOUN
gujaf-441	54	36	,	,	PUNCT
gujaf-441	54	37	a	a	DET
gujaf-441	54	38	confirmation	confirmation	NOUN
gujaf-441	54	39	email	email	NOUN
gujaf-441	54	40	will	will	AUX
gujaf-441	54	41	be	be	AUX
gujaf-441	54	42	send	send	VERB
gujaf-441	54	43	together	together	ADV
gujaf-441	54	44	with	with	ADP
gujaf-441	54	45	a	a	DET
gujaf-441	54	46	request	request	NOUN
gujaf-441	54	47	to	to	PART
gujaf-441	54	48	pay	pay	VERB
gujaf-441	54	49	a	a	DET
gujaf-441	54	50	review	review	NOUN
gujaf-441	54	51	proceeding	proceed	VERB
gujaf-441	54	52	fee.at	fee.at	NOUN
gujaf-441	54	53	this	this	DET
gujaf-441	54	54	point	point	NOUN
gujaf-441	54	55	,	,	PUNCT
gujaf-441	54	56	the	the	DET
gujaf-441	54	57	editorial	editorial	ADJ
gujaf-441	54	58	board	board	NOUN
gujaf-441	54	59	will	will	AUX
gujaf-441	54	60	take	take	VERB
gujaf-441	54	61	a	a	DET
gujaf-441	54	62	decision	decision	NOUN
gujaf-441	54	63	on	on	ADP
gujaf-441	54	64	accepting	accept	VERB
gujaf-441	54	65	,	,	PUNCT
gujaf-441	54	66	rejecting	reject	VERB
gujaf-441	54	67	or	or	CCONJ
gujaf-441	54	68	making	make	VERB
gujaf-441	54	69	a	a	DET
gujaf-441	54	70	resubmission	resubmission	NOUN
gujaf-441	54	71	of	of	ADP
gujaf-441	54	72	the	the	DET
gujaf-441	54	73	manuscript	manuscript	NOUN
gujaf-441	54	74	based	base	VERB
gujaf-441	54	75	on	on	ADP
gujaf-441	54	76	the	the	DET
gujaf-441	54	77	outcome	outcome	NOUN
gujaf-441	54	78	of	of	ADP
gujaf-441	54	79	the	the	DET
gujaf-441	54	80	double	double	ADJ
gujaf-441	54	81	-	-	PUNCT
gujaf-441	54	82	blind	blind	ADJ
gujaf-441	54	83	peer	peer	NOUN
gujaf-441	54	84	review	review	NOUN
gujaf-441	54	85	.	.	PUNCT
gujaf-441	55	1	those	those	DET
gujaf-441	55	2	authors	author	NOUN
gujaf-441	55	3	whose	whose	DET
gujaf-441	55	4	manuscript	manuscript	NOUN
gujaf-441	55	5	were	be	AUX
gujaf-441	55	6	accepted	accept	VERB
gujaf-441	55	7	for	for	ADP
gujaf-441	55	8	publication	publication	NOUN
gujaf-441	55	9	will	will	AUX
gujaf-441	55	10	be	be	AUX
gujaf-441	55	11	asked	ask	VERB
gujaf-441	55	12	to	to	PART
gujaf-441	55	13	pay	pay	VERB
gujaf-441	55	14	a	a	DET
gujaf-441	55	15	publication	publication	NOUN
gujaf-441	55	16	fee	fee	NOUN
gujaf-441	55	17	,	,	PUNCT
gujaf-441	55	18	after	after	ADP
gujaf-441	55	19	effecting	effect	VERB
gujaf-441	55	20	all	all	DET
gujaf-441	55	21	suggested	suggest	VERB
gujaf-441	55	22	corrections	correction	NOUN
gujaf-441	55	23	and	and	CCONJ
gujaf-441	55	24	changes	change	NOUN
gujaf-441	55	25	made	make	VERB
gujaf-441	55	26	on	on	ADP
gujaf-441	55	27	the	the	DET
gujaf-441	55	28	manuscript	manuscript	NOUN
gujaf-441	55	29	.	.	PUNCT
gujaf-441	56	1	all	all	DET
gujaf-441	56	2	corrected	correct	VERB
gujaf-441	56	3	papers	paper	NOUN
gujaf-441	56	4	returned	return	VERB
gujaf-441	56	5	within	within	ADP
gujaf-441	56	6	the	the	DET
gujaf-441	56	7	specified	specify	VERB
gujaf-441	56	8	time	time	NOUN
gujaf-441	56	9	frame	frame	NOUN
gujaf-441	56	10	will	will	AUX
gujaf-441	56	11	be	be	AUX
gujaf-441	56	12	published	publish	VERB
gujaf-441	56	13	in	in	ADP
gujaf-441	56	14	that	that	DET
gujaf-441	56	15	issue	issue	NOUN
gujaf-441	56	16	.	.	PUNCT
gujaf-441	57	1	paymentdetails	paymentdetail	NOUN
gujaf-441	57	2	bank	bank	NOUN
gujaf-441	57	3	:	:	PUNCT
gujaf-441	57	4	fcmb	fcmb	PROPN
gujaf-441	57	5	accountnumber:7278465011	accountnumber:7278465011	PROPN
gujaf-441	57	6	accountname	accountname	PROPN
gujaf-441	57	7	:	:	PUNCT
gujaf-441	57	8	gusau	gusau	ADJ
gujaf-441	57	9	journalof	journalof	PROPN
gujaf-441	57	10	accountingand	accountingand	PROPN
gujaf-441	57	11	finance	finance	NOUN
gujaf-441	57	12	forinquiry	forinquiry	NOUN
gujaf-441	57	13	thehead	thehead	ADJ
gujaf-441	57	14	,	,	PUNCT
gujaf-441	57	15	department	department	NOUN
gujaf-441	57	16	of	of	ADP
gujaf-441	57	17	accounting	accounting	NOUN
gujaf-441	57	18	and	and	CCONJ
gujaf-441	57	19	finance	finance	NOUN
gujaf-441	57	20	,	,	PUNCT
gujaf-441	57	21	federaluniversitygusau	federaluniversitygusau	ADJ
gujaf-441	57	22	,	,	PUNCT
gujaf-441	57	23	zamfarastate	zamfarastate	NOUN
gujaf-441	57	24	.	.	PUNCT
gujaf-441	57	25	elfarouk105@gmail.com	elfarouk105@gmail.com	X
gujaf-441	58	1	+2348069393824	+2348069393824	DET
gujaf-441	58	2	formoreinformation	formoreinformation	NOUN
gujaf-441	58	3	,	,	PUNCT
gujaf-441	58	4	contact	contact	NOUN
gujaf-441	58	5	theeditor	theeditor	NOUN
gujaf-441	58	6	-	-	PUNCT
gujaf-441	58	7	in	in	ADP
gujaf-441	58	8	-	-	PUNCT
gujaf-441	58	9	chiefon+2348067766435	chiefon+2348067766435	NOUN
gujaf-441	58	10	theassociateeditoron+2348036057525	theassociateeditoron+2348036057525	NOUN
gujaf-441	58	11	orvisit	orvisit	NOUN
gujaf-441	58	12	ourwebsiteonwww.gujaf.com.ngorjournals.gujaf.com.ng	ourwebsiteonwww.gujaf.com.ngorjournals.gujaf.com.ng	ADJ
gujaf-441	58	13	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	58	14	,	,	PUNCT
gujaf-441	58	15	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	58	16	419	419	NUM
gujaf-441	58	17	determinants	determinant	NOUN
gujaf-441	58	18	of	of	ADP
gujaf-441	58	19	corporate	corporate	ADJ
gujaf-441	58	20	leverage	leverage	NOUN
gujaf-441	58	21	in	in	ADP
gujaf-441	58	22	emerging	emerge	VERB
gujaf-441	58	23	economies	economy	NOUN
gujaf-441	58	24	:	:	PUNCT
gujaf-441	58	25	the	the	DET
gujaf-441	58	26	role	role	NOUN
gujaf-441	58	27	of	of	ADP
gujaf-441	58	28	firm	firm	ADJ
gujaf-441	58	29	characteristics	characteristic	NOUN
gujaf-441	58	30	,	,	PUNCT
gujaf-441	58	31	macro	macro	ADJ
gujaf-441	58	32	economic	economic	ADJ
gujaf-441	58	33	conditions	condition	NOUN
gujaf-441	58	34	,	,	PUNCT
gujaf-441	58	35	and	and	CCONJ
gujaf-441	58	36	institutional	institutional	ADJ
gujaf-441	58	37	quality	quality	NOUN
gujaf-441	58	38	adedeji	adedeji	VERB
gujaf-441	58	39	daniel	daniel	PROPN
gujaf-441	58	40	gbadebo	gbadebo	PROPN
gujaf-441	58	41	department	department	PROPN
gujaf-441	58	42	of	of	ADP
gujaf-441	58	43	accounting	accounting	PROPN
gujaf-441	58	44	science	science	NOUN
gujaf-441	58	45	,	,	PUNCT
gujaf-441	58	46	walter	walter	PROPN
gujaf-441	58	47	sisulu	sisulu	PROPN
gujaf-441	58	48	university	university	NOUN
gujaf-441	58	49	agbadebo@wsu.ac.zahttps://doi.org/10.57	agbadebo@wsu.ac.zahttps://doi.org/10.57	PROPN
gujaf-441	58	50	233	233	NUM
gujaf-441	58	51	/	/	SYM
gujaf-441	58	52	gujaf.v5i1.21	gujaf.v5i1.21	NOUN
gujaf-441	58	53	abstract	abstract	NOUN
gujaf-441	58	54	this	this	DET
gujaf-441	58	55	study	study	NOUN
gujaf-441	58	56	investigates	investigate	VERB
gujaf-441	58	57	the	the	DET
gujaf-441	58	58	determinants	determinant	NOUN
gujaf-441	58	59	of	of	ADP
gujaf-441	58	60	corporate	corporate	ADJ
gujaf-441	58	61	leverage	leverage	NOUN
gujaf-441	58	62	among	among	ADP
gujaf-441	58	63	firms	firm	NOUN
gujaf-441	58	64	in	in	ADP
gujaf-441	58	65	emerging	emerge	VERB
gujaf-441	58	66	economies	economy	NOUN
gujaf-441	58	67	,	,	PUNCT
gujaf-441	58	68	motivated	motivate	VERB
gujaf-441	58	69	by	by	ADP
gujaf-441	58	70	the	the	DET
gujaf-441	58	71	need	need	NOUN
gujaf-441	58	72	to	to	PART
gujaf-441	58	73	understand	understand	VERB
gujaf-441	58	74	how	how	SCONJ
gujaf-441	58	75	firm	firm	ADJ
gujaf-441	58	76	-	-	PUNCT
gujaf-441	58	77	specific	specific	ADJ
gujaf-441	58	78	characteristics	characteristic	NOUN
gujaf-441	58	79	and	and	CCONJ
gujaf-441	58	80	macro	macro	ADJ
gujaf-441	58	81	-	-	ADJ
gujaf-441	58	82	institutional	institutional	ADJ
gujaf-441	58	83	factors	factor	NOUN
gujaf-441	58	84	shape	shape	VERB
gujaf-441	58	85	financing	finance	VERB
gujaf-441	58	86	decisions.usinga	decisions.usinga	PRON
gujaf-441	58	87	comprehensivepaneldataset	comprehensivepaneldataset	NOUN
gujaf-441	58	88	offirmsacrossvariousindustries	offirmsacrossvariousindustrie	NOUN
gujaf-441	58	89	,	,	PUNCT
gujaf-441	58	90	theanalysisemploysordinary	theanalysisemploysordinary	ADJ
gujaf-441	58	91	least	least	ADJ
gujaf-441	58	92	squares	square	NOUN
gujaf-441	58	93	(	(	PUNCT
gujaf-441	58	94	ols	ol	NOUN
gujaf-441	58	95	)	)	PUNCT
gujaf-441	58	96	,	,	PUNCT
gujaf-441	58	97	quantile	quantile	ADJ
gujaf-441	58	98	regression	regression	NOUN
gujaf-441	58	99	,	,	PUNCT
gujaf-441	58	100	and	and	CCONJ
gujaf-441	58	101	sensitivity	sensitivity	NOUN
gujaf-441	58	102	tests	test	NOUN
gujaf-441	58	103	with	with	ADP
gujaf-441	58	104	interaction	interaction	NOUN
gujaf-441	58	105	terms	term	NOUN
gujaf-441	58	106	to	to	PART
gujaf-441	58	107	capture	capture	VERB
gujaf-441	58	108	heterogeneity	heterogeneity	NOUN
gujaf-441	58	109	in	in	ADP
gujaf-441	58	110	leverage	leverage	NOUN
gujaf-441	58	111	behaviour	behaviour	NOUN
gujaf-441	58	112	.	.	PUNCT
gujaf-441	59	1	the	the	DET
gujaf-441	59	2	empirical	empirical	ADJ
gujaf-441	59	3	findings	finding	NOUN
gujaf-441	59	4	indicate	indicate	VERB
gujaf-441	59	5	that	that	DET
gujaf-441	59	6	profitability	profitability	NOUN
gujaf-441	59	7	,	,	PUNCT
gujaf-441	59	8	tangibility	tangibility	NOUN
gujaf-441	59	9	,	,	PUNCT
gujaf-441	59	10	inflation	inflation	NOUN
gujaf-441	59	11	,	,	PUNCT
gujaf-441	59	12	and	and	CCONJ
gujaf-441	59	13	institutional	institutional	ADJ
gujaf-441	59	14	quality	quality	NOUN
gujaf-441	59	15	are	be	AUX
gujaf-441	59	16	positively	positively	ADV
gujaf-441	59	17	associated	associate	VERB
gujaf-441	59	18	with	with	ADP
gujaf-441	59	19	leverage	leverage	NOUN
gujaf-441	59	20	,	,	PUNCT
gujaf-441	59	21	while	while	SCONJ
gujaf-441	59	22	firm	firm	ADJ
gujaf-441	59	23	size	size	NOUN
gujaf-441	59	24	,	,	PUNCT
gujaf-441	59	25	gdp	gdp	NOUN
gujaf-441	59	26	growth	growth	NOUN
gujaf-441	59	27	,	,	PUNCT
gujaf-441	59	28	and	and	CCONJ
gujaf-441	59	29	interest	interest	NOUN
gujaf-441	59	30	rates	rate	NOUN
gujaf-441	59	31	exhibit	exhibit	VERB
gujaf-441	59	32	negative	negative	ADJ
gujaf-441	59	33	relationships	relationship	NOUN
gujaf-441	59	34	.	.	PUNCT
gujaf-441	60	1	notably	notably	ADV
gujaf-441	60	2	,	,	PUNCT
gujaf-441	60	3	the	the	DET
gujaf-441	60	4	quantile	quantile	ADJ
gujaf-441	60	5	regression	regression	NOUN
gujaf-441	60	6	results	result	NOUN
gujaf-441	60	7	reveal	reveal	VERB
gujaf-441	60	8	that	that	SCONJ
gujaf-441	60	9	the	the	DET
gujaf-441	60	10	strength	strength	NOUN
gujaf-441	60	11	of	of	ADP
gujaf-441	60	12	these	these	DET
gujaf-441	60	13	associations	association	NOUN
gujaf-441	60	14	varies	vary	VERB
gujaf-441	60	15	across	across	ADP
gujaf-441	60	16	the	the	DET
gujaf-441	60	17	leverage	leverage	NOUN
gujaf-441	60	18	distribution	distribution	NOUN
gujaf-441	60	19	,	,	PUNCT
gujaf-441	60	20	with	with	ADP
gujaf-441	60	21	profitability	profitability	NOUN
gujaf-441	60	22	and	and	CCONJ
gujaf-441	60	23	institutional	institutional	ADJ
gujaf-441	60	24	quality	quality	NOUN
gujaf-441	60	25	exerting	exert	VERB
gujaf-441	60	26	stronger	strong	ADJ
gujaf-441	60	27	effects	effect	NOUN
gujaf-441	60	28	at	at	ADP
gujaf-441	60	29	lower	low	ADJ
gujaf-441	60	30	quantiles	quantile	NOUN
gujaf-441	60	31	.	.	PUNCT
gujaf-441	61	1	these	these	DET
gujaf-441	61	2	insights	insight	NOUN
gujaf-441	61	3	underscore	underscore	VERB
gujaf-441	61	4	the	the	DET
gujaf-441	61	5	importance	importance	NOUN
gujaf-441	61	6	of	of	ADP
gujaf-441	61	7	designing	design	VERB
gujaf-441	61	8	policies	policy	NOUN
gujaf-441	61	9	that	that	PRON
gujaf-441	61	10	enhance	enhance	VERB
gujaf-441	61	11	institutional	institutional	ADJ
gujaf-441	61	12	frameworks	framework	NOUN
gujaf-441	61	13	,	,	PUNCT
gujaf-441	61	14	stabilise	stabilise	VERB
gujaf-441	61	15	macroeconomic	macroeconomic	ADJ
gujaf-441	61	16	conditions	condition	NOUN
gujaf-441	61	17	,	,	PUNCT
gujaf-441	61	18	and	and	CCONJ
gujaf-441	61	19	promote	promote	VERB
gujaf-441	61	20	access	access	NOUN
gujaf-441	61	21	to	to	ADP
gujaf-441	61	22	diverse	diverse	ADJ
gujaf-441	61	23	financing	financing	NOUN
gujaf-441	61	24	options	option	NOUN
gujaf-441	61	25	.	.	PUNCT
gujaf-441	62	1	it	it	PRON
gujaf-441	62	2	is	be	AUX
gujaf-441	62	3	recommended	recommend	VERB
gujaf-441	62	4	that	that	SCONJ
gujaf-441	62	5	policymakers	policymaker	NOUN
gujaf-441	62	6	strengthen	strengthen	VERB
gujaf-441	62	7	creditor	creditor	NOUN
gujaf-441	62	8	rights	right	NOUN
gujaf-441	62	9	,	,	PUNCT
gujaf-441	62	10	support	support	VERB
gujaf-441	62	11	alternative	alternative	ADJ
gujaf-441	62	12	finance	finance	NOUN
gujaf-441	62	13	mechanisms	mechanism	NOUN
gujaf-441	62	14	,	,	PUNCT
gujaf-441	62	15	and	and	CCONJ
gujaf-441	62	16	implement	implement	VERB
gujaf-441	62	17	macro	macro	ADJ
gujaf-441	62	18	prudential	prudential	ADJ
gujaf-441	62	19	measures	measure	NOUN
gujaf-441	62	20	to	to	PART
gujaf-441	62	21	ensure	ensure	VERB
gujaf-441	62	22	sustainable	sustainable	ADJ
gujaf-441	62	23	corporate	corporate	ADJ
gujaf-441	62	24	borrowing	borrowing	NOUN
gujaf-441	62	25	practices	practice	NOUN
gujaf-441	62	26	in	in	ADP
gujaf-441	62	27	emerging	emerge	VERB
gujaf-441	62	28	markets	market	NOUN
gujaf-441	62	29	.	.	PUNCT
gujaf-441	63	1	keywords	keyword	NOUN
gujaf-441	63	2	:	:	PUNCT
gujaf-441	63	3	capital	capital	NOUN
gujaf-441	63	4	structure	structure	NOUN
gujaf-441	63	5	,	,	PUNCT
gujaf-441	63	6	leverage	leverage	NOUN
gujaf-441	63	7	,	,	PUNCT
gujaf-441	63	8	emerging	emerge	VERB
gujaf-441	63	9	economies	economy	NOUN
gujaf-441	63	10	,	,	PUNCT
gujaf-441	63	11	quantile	quantile	ADJ
gujaf-441	63	12	regression	regression	NOUN
gujaf-441	63	13	,	,	PUNCT
gujaf-441	63	14	institutional	institutional	ADJ
gujaf-441	63	15	quality	quality	NOUN
gujaf-441	63	16	,	,	PUNCT
gujaf-441	63	17	corporate	corporate	ADJ
gujaf-441	63	18	finance	finance	NOUN
gujaf-441	63	19	jelcodes	jelcode	NOUN
gujaf-441	63	20	:	:	PUNCT
gujaf-441	63	21	g32,o16,c21	g32,o16,c21	NOUN
gujaf-441	63	22	,	,	PUNCT
gujaf-441	63	23	e44	e44	VERB
gujaf-441	63	24	1.0	1.0	NUM
gujaf-441	63	25	introduction	introduction	NOUN
gujaf-441	63	26	the	the	DET
gujaf-441	63	27	capital	capital	NOUN
gujaf-441	63	28	structure	structure	NOUN
gujaf-441	63	29	decisions	decision	NOUN
gujaf-441	63	30	of	of	ADP
gujaf-441	63	31	small	small	ADJ
gujaf-441	63	32	and	and	CCONJ
gujaf-441	63	33	medium	medium	ADJ
gujaf-441	63	34	-	-	PUNCT
gujaf-441	63	35	sized	sized	ADJ
gujaf-441	63	36	enterprises	enterprise	NOUN
gujaf-441	63	37	(	(	PUNCT
gujaf-441	63	38	smes	sme	NOUN
gujaf-441	63	39	)	)	PUNCT
gujaf-441	63	40	in	in	ADP
gujaf-441	63	41	developing	develop	VERB
gujaf-441	63	42	countries	country	NOUN
gujaf-441	63	43	may	may	AUX
gujaf-441	63	44	continue	continue	VERB
gujaf-441	63	45	to	to	PART
gujaf-441	63	46	attract	attract	VERB
gujaf-441	63	47	considerable	considerable	ADJ
gujaf-441	63	48	academic	academic	ADJ
gujaf-441	63	49	and	and	CCONJ
gujaf-441	63	50	policy	policy	NOUN
gujaf-441	63	51	interest	interest	NOUN
gujaf-441	63	52	,	,	PUNCT
gujaf-441	63	53	largely	largely	ADV
gujaf-441	63	54	because	because	SCONJ
gujaf-441	63	55	of	of	ADP
gujaf-441	63	56	their	their	PRON
gujaf-441	63	57	potential	potential	ADJ
gujaf-441	63	58	implications	implication	NOUN
gujaf-441	63	59	for	for	ADP
gujaf-441	63	60	business	business	NOUN
gujaf-441	63	61	sustainability	sustainability	NOUN
gujaf-441	63	62	,	,	PUNCT
gujaf-441	63	63	financial	financial	ADJ
gujaf-441	63	64	resilience	resilience	NOUN
gujaf-441	63	65	,	,	PUNCT
gujaf-441	63	66	and	and	CCONJ
gujaf-441	63	67	economic	economic	ADJ
gujaf-441	63	68	growth.smesoftenconstituteasignificantshareofbusinessestablishmentsandemployment	growth.smesoftenconstituteasignificantshareofbusinessestablishmentsandemployment	PROPN
gujaf-441	63	69	in	in	ADP
gujaf-441	63	70	these	these	DET
gujaf-441	63	71	economies	economy	NOUN
gujaf-441	63	72	,	,	PUNCT
gujaf-441	63	73	yet	yet	CCONJ
gujaf-441	63	74	they	they	PRON
gujaf-441	63	75	may	may	AUX
gujaf-441	63	76	face	face	VERB
gujaf-441	63	77	unique	unique	ADJ
gujaf-441	63	78	financing	financing	NOUN
gujaf-441	63	79	constraints	constraint	NOUN
gujaf-441	63	80	that	that	PRON
gujaf-441	63	81	can	can	AUX
gujaf-441	63	82	limit	limit	VERB
gujaf-441	63	83	their	their	PRON
gujaf-441	63	84	ability	ability	NOUN
gujaf-441	63	85	to	to	PART
gujaf-441	63	86	optimise	optimise	VERB
gujaf-441	63	87	debt	debt	NOUN
gujaf-441	63	88	-	-	PUNCT
gujaf-441	63	89	equitychoices	equitychoice	NOUN
gujaf-441	63	90	(	(	PUNCT
gujaf-441	63	91	abor	abor	NOUN
gujaf-441	63	92	et	et	PROPN
gujaf-441	63	93	al	al	PROPN
gujaf-441	63	94	.	.	PROPN
gujaf-441	63	95	,	,	PUNCT
gujaf-441	63	96	2020	2020	NUM
gujaf-441	63	97	;	;	PUNCT
gujaf-441	63	98	boateng	boateng	PROPN
gujaf-441	63	99	et	et	PROPN
gujaf-441	63	100	al	al	PROPN
gujaf-441	63	101	.	.	PROPN
gujaf-441	63	102	,	,	PUNCT
gujaf-441	63	103	2022	2022	NUM
gujaf-441	63	104	)	)	PUNCT
gujaf-441	63	105	.	.	PUNCT
gujaf-441	64	1	the	the	DET
gujaf-441	64	2	determinants	determinant	NOUN
gujaf-441	64	3	of	of	ADP
gujaf-441	64	4	capital	capital	NOUN
gujaf-441	64	5	structure	structure	NOUN
gujaf-441	64	6	for	for	ADP
gujaf-441	64	7	smes	sme	NOUN
gujaf-441	64	8	,	,	PUNCT
gujaf-441	64	9	particularly	particularly	ADV
gujaf-441	64	10	in	in	ADP
gujaf-441	64	11	the	the	DET
gujaf-441	64	12	context	context	NOUN
gujaf-441	64	13	of	of	ADP
gujaf-441	64	14	developing	develop	VERB
gujaf-441	64	15	economies	economy	NOUN
gujaf-441	64	16	,	,	PUNCT
gujaf-441	64	17	are	be	AUX
gujaf-441	64	18	often	often	ADV
gujaf-441	64	19	shapedbyfirm	shapedbyfirm	ADJ
gujaf-441	64	20	-	-	PUNCT
gujaf-441	64	21	specificattributesandmacroeconomicconditionsthatcaninteractincomplex	specificattributesandmacroeconomicconditionsthatcaninteractincomplex	ADJ
gujaf-441	64	22	ways	way	NOUN
gujaf-441	64	23	.	.	PUNCT
gujaf-441	65	1	while	while	SCONJ
gujaf-441	65	2	prior	prior	ADJ
gujaf-441	65	3	studies	study	NOUN
gujaf-441	65	4	have	have	AUX
gujaf-441	65	5	provided	provide	VERB
gujaf-441	65	6	valuable	valuable	ADJ
gujaf-441	65	7	insights	insight	NOUN
gujaf-441	65	8	using	use	VERB
gujaf-441	65	9	conventional	conventional	ADJ
gujaf-441	65	10	mean	mean	NOUN
gujaf-441	65	11	-	-	PUNCT
gujaf-441	65	12	based	base	VERB
gujaf-441	65	13	estimation	estimation	NOUN
gujaf-441	65	14	techniques	technique	NOUN
gujaf-441	65	15	,	,	PUNCT
gujaf-441	65	16	they	they	PRON
gujaf-441	65	17	may	may	AUX
gujaf-441	65	18	have	have	AUX
gujaf-441	65	19	overlooked	overlook	VERB
gujaf-441	65	20	potential	potential	ADJ
gujaf-441	65	21	heterogeneity	heterogeneity	NOUN
gujaf-441	65	22	in	in	ADP
gujaf-441	65	23	how	how	SCONJ
gujaf-441	65	24	these	these	DET
gujaf-441	65	25	determinants	determinant	NOUN
gujaf-441	65	26	operate	operate	VERB
gujaf-441	65	27	across	across	ADP
gujaf-441	65	28	different	different	ADJ
gujaf-441	65	29	points	point	NOUN
gujaf-441	65	30	of	of	ADP
gujaf-441	65	31	the	the	DET
gujaf-441	65	32	capital	capital	NOUN
gujaf-441	65	33	structure	structure	NOUN
gujaf-441	65	34	distribution	distribution	NOUN
gujaf-441	65	35	(	(	PUNCT
gujaf-441	65	36	nguyen	nguyen	NOUN
gujaf-441	65	37	&	&	CCONJ
gujaf-441	65	38	nguyen	nguyen	PROPN
gujaf-441	65	39	,	,	PUNCT
gujaf-441	65	40	2020	2020	NUM
gujaf-441	65	41	)	)	PUNCT
gujaf-441	65	42	.	.	PUNCT
gujaf-441	66	1	the	the	DET
gujaf-441	66	2	existing	exist	VERB
gujaf-441	66	3	literature	literature	NOUN
gujaf-441	66	4	suggests	suggest	VERB
gujaf-441	66	5	that	that	SCONJ
gujaf-441	66	6	firm	firm	ADJ
gujaf-441	66	7	-	-	PUNCT
gujaf-441	66	8	specific	specific	ADJ
gujaf-441	66	9	characteristics	characteristic	NOUN
gujaf-441	66	10	such	such	ADJ
gujaf-441	66	11	as	as	ADP
gujaf-441	66	12	size	size	NOUN
gujaf-441	66	13	,	,	PUNCT
gujaf-441	66	14	profitability	profitability	NOUN
gujaf-441	66	15	,	,	PUNCT
gujaf-441	66	16	asset	asset	NOUN
gujaf-441	66	17	tangibility	tangibility	NOUN
gujaf-441	66	18	,	,	PUNCT
gujaf-441	66	19	and	and	CCONJ
gujaf-441	66	20	growth	growth	NOUN
gujaf-441	66	21	opportunities	opportunity	NOUN
gujaf-441	66	22	may	may	AUX
gujaf-441	66	23	play	play	VERB
gujaf-441	66	24	important	important	ADJ
gujaf-441	66	25	roles	role	NOUN
gujaf-441	66	26	in	in	ADP
gujaf-441	66	27	explaining	explain	VERB
gujaf-441	66	28	variations	variation	NOUN
gujaf-441	66	29	in	in	ADP
gujaf-441	66	30	capital	capital	NOUN
gujaf-441	66	31	structure	structure	NOUN
gujaf-441	66	32	decisions	decision	NOUN
gujaf-441	66	33	(	(	PUNCT
gujaf-441	66	34	chen	chen	PROPN
gujaf-441	66	35	et	et	PROPN
gujaf-441	66	36	al	al	PROPN
gujaf-441	66	37	.	.	PROPN
gujaf-441	66	38	,	,	PUNCT
gujaf-441	66	39	2023	2023	NUM
gujaf-441	66	40	)	)	PUNCT
gujaf-441	66	41	.	.	PUNCT
gujaf-441	67	1	however	however	ADV
gujaf-441	67	2	,	,	PUNCT
gujaf-441	67	3	these	these	DET
gujaf-441	67	4	relationships	relationship	NOUN
gujaf-441	67	5	may	may	AUX
gujaf-441	67	6	not	not	PART
gujaf-441	67	7	be	be	AUX
gujaf-441	67	8	uniform	uniform	ADJ
gujaf-441	67	9	across	across	ADP
gujaf-441	67	10	all	all	DET
gujaf-441	67	11	smes	sme	NOUN
gujaf-441	67	12	.	.	PUNCT
gujaf-441	68	1	for	for	ADP
gujaf-441	68	2	instance	instance	NOUN
gujaf-441	68	3	,	,	PUNCT
gujaf-441	68	4	smaller	small	ADJ
gujaf-441	68	5	or	or	CCONJ
gujaf-441	68	6	less	less	ADV
gujaf-441	68	7	profitable	profitable	ADJ
gujaf-441	68	8	firms	firm	NOUN
gujaf-441	68	9	may	may	AUX
gujaf-441	68	10	encounter	encounter	VERB
gujaf-441	68	11	more	more	ADV
gujaf-441	68	12	pronounced	pronounced	ADJ
gujaf-441	68	13	information	information	NOUN
gujaf-441	68	14	asymmetry	asymmetry	NOUN
gujaf-441	68	15	and	and	CCONJ
gujaf-441	68	16	higher	high	ADJ
gujaf-441	68	17	borrowing	borrowing	NOUN
gujaf-441	68	18	costs	cost	NOUN
gujaf-441	68	19	,	,	PUNCT
gujaf-441	68	20	which	which	PRON
gujaf-441	68	21	could	could	AUX
gujaf-441	68	22	constrain	constrain	VERB
gujaf-441	68	23	their	their	PRON
gujaf-441	68	24	ability	ability	NOUN
gujaf-441	68	25	to	to	PART
gujaf-441	68	26	access	access	VERB
gujaf-441	68	27	debt	debt	NOUN
gujaf-441	68	28	markets	market	NOUN
gujaf-441	68	29	(	(	PUNCT
gujaf-441	68	30	shah	shah	PROPN
gujaf-441	68	31	&	&	CCONJ
gujaf-441	68	32	khan	khan	PROPN
gujaf-441	68	33	,	,	PUNCT
gujaf-441	68	34	2022	2022	NUM
gujaf-441	68	35	)	)	PUNCT
gujaf-441	68	36	.	.	PUNCT
gujaf-441	69	1	similarly	similarly	ADV
gujaf-441	69	2	,	,	PUNCT
gujaf-441	69	3	macroeconomic	macroeconomic	ADJ
gujaf-441	69	4	variables	variable	NOUN
gujaf-441	69	5	,	,	PUNCT
gujaf-441	69	6	including	include	VERB
gujaf-441	69	7	inflation	inflation	NOUN
gujaf-441	69	8	,	,	PUNCT
gujaf-441	69	9	interest	interest	NOUN
gujaf-441	69	10	rates	rate	NOUN
gujaf-441	69	11	,	,	PUNCT
gujaf-441	69	12	and	and	CCONJ
gujaf-441	69	13	gdp	gdp	NOUN
gujaf-441	69	14	growth	growth	NOUN
gujaf-441	69	15	,	,	PUNCT
gujaf-441	69	16	can	can	AUX
gujaf-441	69	17	influence	influence	VERB
gujaf-441	69	18	both	both	DET
gujaf-441	69	19	the	the	DET
gujaf-441	69	20	supply	supply	NOUN
gujaf-441	69	21	of	of	ADP
gujaf-441	69	22	and	and	CCONJ
gujaf-441	69	23	demandforexternalfinance	demandforexternalfinance	NOUN
gujaf-441	69	24	,	,	PUNCT
gujaf-441	69	25	albeitpotentiallyinnon	albeitpotentiallyinnon	NOUN
gujaf-441	69	26	-	-	PUNCT
gujaf-441	69	27	linearorasymmetricwaysacrossfirms	linearorasymmetricwaysacrossfirm	NOUN
gujaf-441	69	28	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	69	29	,	,	PUNCT
gujaf-441	69	30	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	69	31	420	420	NUM
gujaf-441	69	32	withdifferingfinancialperformancelevels(kebede&kuar	withdifferingfinancialperformancelevels(kebede&kuar	ADJ
gujaf-441	69	33	,	,	PUNCT
gujaf-441	69	34	2021).these	2021).these	NUM
gujaf-441	69	35	complexitiespoint	complexitiespoint	NOUN
gujaf-441	69	36	to	to	ADP
gujaf-441	69	37	the	the	DET
gujaf-441	69	38	need	need	NOUN
gujaf-441	69	39	for	for	ADP
gujaf-441	69	40	empirical	empirical	ADJ
gujaf-441	69	41	approaches	approach	NOUN
gujaf-441	69	42	capable	capable	ADJ
gujaf-441	69	43	of	of	ADP
gujaf-441	69	44	capturing	capture	VERB
gujaf-441	69	45	heterogeneous	heterogeneous	ADJ
gujaf-441	69	46	effects	effect	NOUN
gujaf-441	69	47	those	those	DET
gujaf-441	69	48	standard	standard	ADJ
gujaf-441	69	49	linear	linear	ADJ
gujaf-441	69	50	models	model	NOUN
gujaf-441	69	51	may	may	AUX
gujaf-441	69	52	not	not	PART
gujaf-441	69	53	adequately	adequately	ADV
gujaf-441	69	54	reveal	reveal	VERB
gujaf-441	69	55	.	.	PUNCT
gujaf-441	70	1	panelquantileregression	panelquantileregression	NOUN
gujaf-441	70	2	hasemergedasapromisingtechniqueinthisregard	hasemergedasapromisingtechniqueinthisregard	PROPN
gujaf-441	70	3	,	,	PUNCT
gujaf-441	70	4	asitallowsfor	asitallowsfor	ADP
gujaf-441	70	5	the	the	DET
gujaf-441	70	6	estimation	estimation	NOUN
gujaf-441	70	7	of	of	ADP
gujaf-441	70	8	conditional	conditional	ADJ
gujaf-441	70	9	quantiles	quantile	NOUN
gujaf-441	70	10	of	of	ADP
gujaf-441	70	11	the	the	DET
gujaf-441	70	12	dependent	dependent	ADJ
gujaf-441	70	13	variable	variable	NOUN
gujaf-441	70	14	,	,	PUNCT
gujaf-441	70	15	offering	offer	VERB
gujaf-441	70	16	a	a	DET
gujaf-441	70	17	richer	rich	ADJ
gujaf-441	70	18	depictionof	depictionof	VERB
gujaf-441	70	19	the	the	DET
gujaf-441	70	20	relationships	relationship	NOUN
gujaf-441	70	21	between	between	ADP
gujaf-441	70	22	capital	capital	NOUN
gujaf-441	70	23	structure	structure	NOUN
gujaf-441	70	24	and	and	CCONJ
gujaf-441	70	25	its	its	PRON
gujaf-441	70	26	determinants	determinant	NOUN
gujaf-441	70	27	(	(	PUNCT
gujaf-441	70	28	wang	wang	PROPN
gujaf-441	70	29	&	&	CCONJ
gujaf-441	70	30	yung	yung	PROPN
gujaf-441	70	31	,	,	PUNCT
gujaf-441	70	32	2022	2022	NUM
gujaf-441	70	33	)	)	PUNCT
gujaf-441	70	34	.	.	PUNCT
gujaf-441	71	1	unlikeordinaryleastsquaresortraditionalfixed	unlikeordinaryleastsquaresortraditionalfixe	VERB
gujaf-441	71	2	-	-	PUNCT
gujaf-441	71	3	effectsmodelsthatfocusonaverageeffects	effectsmodelsthatfocusonaverageeffect	NOUN
gujaf-441	71	4	,	,	PUNCT
gujaf-441	71	5	quantile	quantile	ADJ
gujaf-441	71	6	regression	regression	NOUN
gujaf-441	71	7	may	may	AUX
gujaf-441	71	8	provide	provide	VERB
gujaf-441	71	9	insights	insight	NOUN
gujaf-441	71	10	into	into	ADP
gujaf-441	71	11	how	how	SCONJ
gujaf-441	71	12	explanatory	explanatory	ADJ
gujaf-441	71	13	variables	variable	NOUN
gujaf-441	71	14	relate	relate	VERB
gujaf-441	71	15	to	to	ADP
gujaf-441	71	16	capital	capital	NOUN
gujaf-441	71	17	structure	structure	NOUN
gujaf-441	71	18	across	across	ADP
gujaf-441	71	19	different	different	ADJ
gujaf-441	71	20	levels	level	NOUN
gujaf-441	71	21	of	of	ADP
gujaf-441	71	22	leverage	leverage	NOUN
gujaf-441	71	23	or	or	CCONJ
gujaf-441	71	24	financial	financial	ADJ
gujaf-441	71	25	health	health	NOUN
gujaf-441	71	26	(	(	PUNCT
gujaf-441	71	27	machokoto	machokoto	NOUN
gujaf-441	71	28	et	et	PROPN
gujaf-441	71	29	al	al	PROPN
gujaf-441	71	30	.	.	PROPN
gujaf-441	71	31	,	,	PUNCT
gujaf-441	71	32	2021	2021	NUM
gujaf-441	71	33	)	)	PUNCT
gujaf-441	71	34	.	.	PUNCT
gujaf-441	72	1	this	this	PRON
gujaf-441	72	2	can	can	AUX
gujaf-441	72	3	be	be	AUX
gujaf-441	72	4	particularly	particularly	ADV
gujaf-441	72	5	relevant	relevant	ADJ
gujaf-441	72	6	for	for	ADP
gujaf-441	72	7	smes	sme	NOUN
gujaf-441	72	8	,	,	PUNCT
gujaf-441	72	9	where	where	SCONJ
gujaf-441	72	10	firms	firm	NOUN
gujaf-441	72	11	at	at	ADP
gujaf-441	72	12	the	the	DET
gujaf-441	72	13	lower	low	ADJ
gujaf-441	72	14	end	end	NOUN
gujaf-441	72	15	of	of	ADP
gujaf-441	72	16	the	the	DET
gujaf-441	72	17	capital	capital	NOUN
gujaf-441	72	18	structure	structure	NOUN
gujaf-441	72	19	distribution	distribution	NOUN
gujaf-441	72	20	may	may	AUX
gujaf-441	72	21	face	face	VERB
gujaf-441	72	22	fundamentally	fundamentally	ADV
gujaf-441	72	23	different	different	ADJ
gujaf-441	72	24	constraints	constraint	NOUN
gujaf-441	72	25	and	and	CCONJ
gujaf-441	72	26	opportunities	opportunity	NOUN
gujaf-441	72	27	compared	compare	VERB
gujaf-441	72	28	tothose	tothose	NOUN
gujaf-441	72	29	at	at	ADP
gujaf-441	72	30	the	the	DET
gujaf-441	72	31	higher	high	ADJ
gujaf-441	72	32	end	end	NOUN
gujaf-441	72	33	.	.	PUNCT
gujaf-441	73	1	despite	despite	SCONJ
gujaf-441	73	2	this	this	DET
gujaf-441	73	3	potential	potential	NOUN
gujaf-441	73	4	,	,	PUNCT
gujaf-441	73	5	applications	application	NOUN
gujaf-441	73	6	of	of	ADP
gujaf-441	73	7	panel	panel	NOUN
gujaf-441	73	8	quantile	quantile	ADJ
gujaf-441	73	9	regression	regression	NOUN
gujaf-441	73	10	in	in	ADP
gujaf-441	73	11	the	the	DET
gujaf-441	73	12	sme	sme	PROPN
gujaf-441	73	13	capital	capital	PROPN
gujaf-441	73	14	structure	structure	NOUN
gujaf-441	73	15	literature	literature	NOUN
gujaf-441	73	16	,	,	PUNCT
gujaf-441	73	17	especially	especially	ADV
gujaf-441	73	18	within	within	ADP
gujaf-441	73	19	developing	develop	VERB
gujaf-441	73	20	country	country	NOUN
gujaf-441	73	21	contexts	contexts	NOUN
gujaf-441	73	22	,	,	PUNCT
gujaf-441	73	23	appear	appear	VERB
gujaf-441	73	24	limited	limited	ADJ
gujaf-441	73	25	.	.	PUNCT
gujaf-441	74	1	theremayalsobeanunderexploredintersectionbetweenmacroeconomicvolatilityandfirmlevel	theremayalsobeanunderexploredintersectionbetweenmacroeconomicvolatilityandfirmlevel	NOUN
gujaf-441	74	2	responses	response	NOUN
gujaf-441	74	3	in	in	ADP
gujaf-441	74	4	shaping	shape	VERB
gujaf-441	74	5	sme	sme	ADJ
gujaf-441	74	6	capital	capital	NOUN
gujaf-441	74	7	structure	structure	NOUN
gujaf-441	74	8	.	.	PUNCT
gujaf-441	75	1	in	in	ADP
gujaf-441	75	2	many	many	ADJ
gujaf-441	75	3	developing	develop	VERB
gujaf-441	75	4	countries	country	NOUN
gujaf-441	75	5	,	,	PUNCT
gujaf-441	75	6	macroeconomic	macroeconomic	ADJ
gujaf-441	75	7	environments	environment	NOUN
gujaf-441	75	8	tend	tend	VERB
gujaf-441	75	9	to	to	PART
gujaf-441	75	10	exhibit	exhibit	VERB
gujaf-441	75	11	higher	high	ADJ
gujaf-441	75	12	degrees	degree	NOUN
gujaf-441	75	13	of	of	ADP
gujaf-441	75	14	uncertainty	uncertainty	NOUN
gujaf-441	75	15	,	,	PUNCT
gujaf-441	75	16	which	which	PRON
gujaf-441	75	17	can	can	AUX
gujaf-441	75	18	amplify	amplify	VERB
gujaf-441	75	19	the	the	DET
gujaf-441	75	20	challenges	challenge	NOUN
gujaf-441	75	21	smes	sme	NOUN
gujaf-441	75	22	face	face	VERB
gujaf-441	75	23	in	in	ADP
gujaf-441	75	24	aligning	align	VERB
gujaf-441	75	25	their	their	PRON
gujaf-441	75	26	financing	financing	NOUN
gujaf-441	75	27	strategies	strategy	NOUN
gujaf-441	75	28	with	with	ADP
gujaf-441	75	29	optimal	optimal	ADJ
gujaf-441	75	30	capital	capital	NOUN
gujaf-441	75	31	structure	structure	NOUN
gujaf-441	75	32	theory	theory	NOUN
gujaf-441	75	33	(	(	PUNCT
gujaf-441	75	34	dinh	dinh	NOUN
gujaf-441	75	35	&	&	CCONJ
gujaf-441	75	36	nguyen	nguyen	PROPN
gujaf-441	75	37	,	,	PUNCT
gujaf-441	75	38	2024	2024	NUM
gujaf-441	75	39	)	)	PUNCT
gujaf-441	75	40	.	.	PUNCT
gujaf-441	76	1	exchange	exchange	NOUN
gujaf-441	76	2	rate	rate	NOUN
gujaf-441	76	3	fluctuations	fluctuation	NOUN
gujaf-441	76	4	,	,	PUNCT
gujaf-441	76	5	inflation	inflation	NOUN
gujaf-441	76	6	shocks	shock	NOUN
gujaf-441	76	7	,	,	PUNCT
gujaf-441	76	8	and	and	CCONJ
gujaf-441	76	9	inconsistent	inconsistent	ADJ
gujaf-441	76	10	monetary	monetary	ADJ
gujaf-441	76	11	policies	policy	NOUN
gujaf-441	76	12	,	,	PUNCT
gujaf-441	76	13	for	for	ADP
gujaf-441	76	14	example	example	NOUN
gujaf-441	76	15	,	,	PUNCT
gujaf-441	76	16	can	can	AUX
gujaf-441	76	17	affect	affect	VERB
gujaf-441	76	18	both	both	PRON
gujaf-441	76	19	the	the	DET
gujaf-441	76	20	availability	availability	NOUN
gujaf-441	76	21	and	and	CCONJ
gujaf-441	76	22	cost	cost	NOUN
gujaf-441	76	23	of	of	ADP
gujaf-441	76	24	debt	debt	NOUN
gujaf-441	76	25	financing	financing	NOUN
gujaf-441	76	26	,	,	PUNCT
gujaf-441	76	27	with	with	ADP
gujaf-441	76	28	effects	effect	NOUN
gujaf-441	76	29	that	that	PRON
gujaf-441	76	30	might	might	AUX
gujaf-441	76	31	be	be	AUX
gujaf-441	76	32	disproportionately	disproportionately	ADV
gujaf-441	76	33	borne	bear	VERB
gujaf-441	76	34	by	by	ADP
gujaf-441	76	35	firms	firm	NOUN
gujaf-441	76	36	at	at	ADP
gujaf-441	76	37	particular	particular	ADJ
gujaf-441	76	38	leverage	leverage	NOUN
gujaf-441	76	39	levels	level	NOUN
gujaf-441	76	40	.	.	PUNCT
gujaf-441	77	1	these	these	DET
gujaf-441	77	2	dynamics	dynamic	NOUN
gujaf-441	77	3	could	could	AUX
gujaf-441	77	4	potentially	potentially	ADV
gujaf-441	77	5	explain	explain	VERB
gujaf-441	77	6	the	the	DET
gujaf-441	77	7	persistence	persistence	NOUN
gujaf-441	77	8	of	of	ADP
gujaf-441	77	9	suboptimal	suboptimal	ADJ
gujaf-441	77	10	capital	capital	NOUN
gujaf-441	77	11	structures	structure	NOUN
gujaf-441	77	12	observed	observe	VERB
gujaf-441	77	13	among	among	ADP
gujaf-441	77	14	smes	sme	NOUN
gujaf-441	77	15	in	in	ADP
gujaf-441	77	16	such	such	ADJ
gujaf-441	77	17	contexts	context	NOUN
gujaf-441	77	18	(	(	PUNCT
gujaf-441	77	19	mensah	mensah	PROPN
gujaf-441	77	20	&	&	CCONJ
gujaf-441	77	21	sarpong	sarpong	PROPN
gujaf-441	77	22	,	,	PUNCT
gujaf-441	77	23	2023	2023	NUM
gujaf-441	77	24	)	)	PUNCT
gujaf-441	77	25	.	.	PUNCT
gujaf-441	78	1	furthermore	furthermore	ADV
gujaf-441	78	2	,	,	PUNCT
gujaf-441	78	3	recent	recent	ADJ
gujaf-441	78	4	developments	development	NOUN
gujaf-441	78	5	in	in	ADP
gujaf-441	78	6	sme	sme	ADJ
gujaf-441	78	7	financing	financing	NOUN
gujaf-441	78	8	,	,	PUNCT
gujaf-441	78	9	including	include	VERB
gujaf-441	78	10	the	the	DET
gujaf-441	78	11	expansion	expansion	NOUN
gujaf-441	78	12	of	of	ADP
gujaf-441	78	13	fintech	fintech	NOUN
gujaf-441	78	14	platforms	platform	NOUN
gujaf-441	78	15	and	and	CCONJ
gujaf-441	78	16	alternative	alternative	ADJ
gujaf-441	78	17	credit	credit	NOUN
gujaf-441	78	18	sources	source	NOUN
gujaf-441	78	19	,	,	PUNCT
gujaf-441	78	20	mayintroduce	mayintroduce	VERB
gujaf-441	78	21	additional	additional	ADJ
gujaf-441	78	22	complexities	complexity	NOUN
gujaf-441	78	23	that	that	PRON
gujaf-441	78	24	influence	influence	VERB
gujaf-441	78	25	capital	capital	NOUN
gujaf-441	78	26	structure	structure	NOUN
gujaf-441	78	27	decisions	decision	NOUN
gujaf-441	78	28	(	(	PUNCT
gujaf-441	78	29	asante	asante	PROPN
gujaf-441	78	30	et	et	PROPN
gujaf-441	78	31	al	al	PROPN
gujaf-441	78	32	.	.	PROPN
gujaf-441	78	33	,	,	PUNCT
gujaf-441	78	34	2023	2023	NUM
gujaf-441	78	35	)	)	PUNCT
gujaf-441	78	36	.	.	PUNCT
gujaf-441	79	1	these	these	DET
gujaf-441	79	2	new	new	ADJ
gujaf-441	79	3	financing	financing	NOUN
gujaf-441	79	4	channels	channel	NOUN
gujaf-441	79	5	can	can	AUX
gujaf-441	79	6	reduce	reduce	VERB
gujaf-441	79	7	dependence	dependence	NOUN
gujaf-441	79	8	on	on	ADP
gujaf-441	79	9	traditional	traditional	ADJ
gujaf-441	79	10	banking	banking	NOUN
gujaf-441	79	11	relationships	relationship	NOUN
gujaf-441	79	12	,	,	PUNCT
gujaf-441	79	13	though	though	SCONJ
gujaf-441	79	14	their	their	PRON
gujaf-441	79	15	impact	impact	NOUN
gujaf-441	79	16	may	may	AUX
gujaf-441	79	17	vary	vary	VERB
gujaf-441	79	18	considerably	considerably	ADV
gujaf-441	79	19	across	across	ADP
gujaf-441	79	20	smes	sme	NOUN
gujaf-441	79	21	operatingat	operatingat	ADJ
gujaf-441	79	22	different	different	ADJ
gujaf-441	79	23	performance	performance	NOUN
gujaf-441	79	24	quantiles	quantile	NOUN
gujaf-441	79	25	.	.	PUNCT
gujaf-441	80	1	smes	sme	NOUN
gujaf-441	80	2	with	with	ADP
gujaf-441	80	3	stronger	strong	ADJ
gujaf-441	80	4	operational	operational	ADJ
gujaf-441	80	5	or	or	CCONJ
gujaf-441	80	6	financial	financial	ADJ
gujaf-441	80	7	positions	position	NOUN
gujaf-441	80	8	may	may	AUX
gujaf-441	80	9	be	be	AUX
gujaf-441	80	10	better	well	ADV
gujaf-441	80	11	able	able	ADJ
gujaf-441	80	12	to	to	PART
gujaf-441	80	13	leverage	leverage	VERB
gujaf-441	80	14	these	these	DET
gujaf-441	80	15	innovations	innovation	NOUN
gujaf-441	80	16	,	,	PUNCT
gujaf-441	80	17	while	while	SCONJ
gujaf-441	80	18	more	more	ADJ
gujaf-441	80	19	vulnerable	vulnerable	ADJ
gujaf-441	80	20	firms	firm	NOUN
gujaf-441	80	21	might	might	AUX
gujaf-441	80	22	continue	continue	VERB
gujaf-441	80	23	to	to	PART
gujaf-441	80	24	struggle	struggle	VERB
gujaf-441	80	25	with	with	ADP
gujaf-441	80	26	credit	credit	NOUN
gujaf-441	80	27	access	access	NOUN
gujaf-441	80	28	.	.	PUNCT
gujaf-441	81	1	the	the	DET
gujaf-441	81	2	intersection	intersection	NOUN
gujaf-441	81	3	of	of	ADP
gujaf-441	81	4	these	these	DET
gujaf-441	81	5	firm	firm	ADJ
gujaf-441	81	6	-	-	PUNCT
gujaf-441	81	7	level	level	NOUN
gujaf-441	81	8	and	and	CCONJ
gujaf-441	81	9	macroeconomic	macroeconomic	ADJ
gujaf-441	81	10	determinants	determinant	NOUN
gujaf-441	81	11	,	,	PUNCT
gujaf-441	81	12	and	and	CCONJ
gujaf-441	81	13	how	how	SCONJ
gujaf-441	81	14	they	they	PRON
gujaf-441	81	15	manifest	manifest	VERB
gujaf-441	81	16	across	across	ADP
gujaf-441	81	17	the	the	DET
gujaf-441	81	18	distribution	distribution	NOUN
gujaf-441	81	19	of	of	ADP
gujaf-441	81	20	capital	capital	NOUN
gujaf-441	81	21	structure	structure	NOUN
gujaf-441	81	22	,	,	PUNCT
gujaf-441	81	23	may	may	AUX
gujaf-441	81	24	warrant	warrant	VERB
gujaf-441	81	25	deeper	deep	ADJ
gujaf-441	81	26	empirical	empirical	ADJ
gujaf-441	81	27	investigation	investigation	NOUN
gujaf-441	81	28	.	.	PUNCT
gujaf-441	82	1	thisstudyaimsto	thisstudyaimsto	PROPN
gujaf-441	82	2	contributetotheliteraturebyapplyingpanelquantileregressiontoanalyse	contributetotheliteraturebyapplyingpanelquantileregressiontoanalyse	PROPN
gujaf-441	82	3	the	the	DET
gujaf-441	82	4	determinants	determinant	NOUN
gujaf-441	82	5	of	of	ADP
gujaf-441	82	6	capital	capital	NOUN
gujaf-441	82	7	structure	structure	NOUN
gujaf-441	82	8	among	among	ADP
gujaf-441	82	9	smes	sme	NOUN
gujaf-441	82	10	in	in	ADP
gujaf-441	82	11	developing	develop	VERB
gujaf-441	82	12	countries	country	NOUN
gujaf-441	82	13	.	.	PUNCT
gujaf-441	83	1	by	by	ADP
gujaf-441	83	2	focusing	focus	VERB
gujaf-441	83	3	on	on	ADP
gujaf-441	83	4	both	both	CCONJ
gujaf-441	83	5	firm	firm	ADJ
gujaf-441	83	6	-	-	PUNCT
gujaf-441	83	7	specific	specific	ADJ
gujaf-441	83	8	and	and	CCONJ
gujaf-441	83	9	macroeconomic	macroeconomic	ADJ
gujaf-441	83	10	variables	variable	NOUN
gujaf-441	83	11	,	,	PUNCT
gujaf-441	83	12	the	the	DET
gujaf-441	83	13	study	study	NOUN
gujaf-441	83	14	seeks	seek	VERB
gujaf-441	83	15	to	to	PART
gujaf-441	83	16	uncover	uncover	VERB
gujaf-441	83	17	heterogeneous	heterogeneous	ADJ
gujaf-441	83	18	effects	effect	NOUN
gujaf-441	83	19	that	that	PRON
gujaf-441	83	20	may	may	AUX
gujaf-441	83	21	not	not	PART
gujaf-441	83	22	be	be	AUX
gujaf-441	83	23	captured	capture	VERB
gujaf-441	83	24	in	in	ADP
gujaf-441	83	25	mean	mean	NOUN
gujaf-441	83	26	-	-	PUNCT
gujaf-441	83	27	based	base	VERB
gujaf-441	83	28	models	model	NOUN
gujaf-441	83	29	.	.	PUNCT
gujaf-441	84	1	such	such	DET
gujaf-441	84	2	an	an	DET
gujaf-441	84	3	approach	approach	NOUN
gujaf-441	84	4	can	can	AUX
gujaf-441	84	5	enhance	enhance	VERB
gujaf-441	84	6	understanding	understanding	NOUN
gujaf-441	84	7	of	of	ADP
gujaf-441	84	8	how	how	SCONJ
gujaf-441	84	9	capital	capital	NOUN
gujaf-441	84	10	structure	structure	NOUN
gujaf-441	84	11	decisions	decision	NOUN
gujaf-441	84	12	evolve	evolve	VERB
gujaf-441	84	13	across	across	ADP
gujaf-441	84	14	smes	sme	NOUN
gujaf-441	84	15	with	with	ADP
gujaf-441	84	16	differing	differ	VERB
gujaf-441	84	17	financial	financial	ADJ
gujaf-441	84	18	characteristics	characteristic	NOUN
gujaf-441	84	19	and	and	CCONJ
gujaf-441	84	20	in	in	ADP
gujaf-441	84	21	varied	varied	ADJ
gujaf-441	84	22	macroeconomic	macroeconomic	ADJ
gujaf-441	84	23	conditions	condition	NOUN
gujaf-441	84	24	.	.	PUNCT
gujaf-441	85	1	the	the	DET
gujaf-441	85	2	research	research	NOUN
gujaf-441	85	3	may	may	AUX
gujaf-441	85	4	offer	offer	VERB
gujaf-441	85	5	valuable	valuable	ADJ
gujaf-441	85	6	insights	insight	NOUN
gujaf-441	85	7	for	for	ADP
gujaf-441	85	8	policymakers	policymaker	NOUN
gujaf-441	85	9	and	and	CCONJ
gujaf-441	85	10	financial	financial	ADJ
gujaf-441	85	11	institutions	institution	NOUN
gujaf-441	85	12	seeking	seek	VERB
gujaf-441	85	13	to	to	PART
gujaf-441	85	14	support	support	VERB
gujaf-441	85	15	sme	sme	NOUN
gujaf-441	85	16	development	development	NOUN
gujaf-441	85	17	through	through	ADP
gujaf-441	85	18	more	more	ADV
gujaf-441	85	19	targeted	target	VERB
gujaf-441	85	20	financing	financing	NOUN
gujaf-441	85	21	frameworks	framework	NOUN
gujaf-441	85	22	.	.	PUNCT
gujaf-441	86	1	2.0	2.0	NUM
gujaf-441	86	2	materials	material	NOUN
gujaf-441	86	3	the	the	DET
gujaf-441	86	4	capital	capital	NOUN
gujaf-441	86	5	structure	structure	NOUN
gujaf-441	86	6	decisions	decision	NOUN
gujaf-441	86	7	of	of	ADP
gujaf-441	86	8	smes	sme	NOUN
gujaf-441	86	9	in	in	ADP
gujaf-441	86	10	developing	develop	VERB
gujaf-441	86	11	countries	country	NOUN
gujaf-441	86	12	continue	continue	VERB
gujaf-441	86	13	to	to	PART
gujaf-441	86	14	be	be	AUX
gujaf-441	86	15	explored	explore	VERB
gujaf-441	86	16	throughmultipletheoreticallenses	throughmultipletheoreticallense	NOUN
gujaf-441	86	17	,	,	PUNCT
gujaf-441	86	18	giventhecomplexinterplaybetweeninternalfirm	giventhecomplexinterplaybetweeninternalfirm	PROPN
gujaf-441	86	19	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	86	20	,	,	PUNCT
gujaf-441	86	21	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	86	22	421	421	NUM
gujaf-441	86	23	dynamics	dynamic	NOUN
gujaf-441	86	24	and	and	CCONJ
gujaf-441	86	25	external	external	ADJ
gujaf-441	86	26	economic	economic	ADJ
gujaf-441	86	27	contexts	contexts	NOUN
gujaf-441	86	28	.	.	PUNCT
gujaf-441	87	1	among	among	ADP
gujaf-441	87	2	these	these	PRON
gujaf-441	87	3	,	,	PUNCT
gujaf-441	87	4	the	the	DET
gujaf-441	87	5	trade	trade	NOUN
gujaf-441	87	6	-	-	PUNCT
gujaf-441	87	7	off	off	ADP
gujaf-441	87	8	theory	theory	NOUN
gujaf-441	87	9	has	have	AUX
gujaf-441	87	10	been	be	AUX
gujaf-441	87	11	extensively	extensively	ADV
gujaf-441	87	12	applied	apply	VERB
gujaf-441	87	13	to	to	PART
gujaf-441	87	14	explain	explain	VERB
gujaf-441	87	15	how	how	SCONJ
gujaf-441	87	16	firms	firm	NOUN
gujaf-441	87	17	may	may	AUX
gujaf-441	87	18	balance	balance	VERB
gujaf-441	87	19	the	the	DET
gujaf-441	87	20	tax	tax	NOUN
gujaf-441	87	21	benefits	benefit	NOUN
gujaf-441	87	22	of	of	ADP
gujaf-441	87	23	debt	debt	NOUN
gujaf-441	87	24	against	against	ADP
gujaf-441	87	25	the	the	DET
gujaf-441	87	26	costs	cost	NOUN
gujaf-441	87	27	of	of	ADP
gujaf-441	87	28	financial	financial	ADJ
gujaf-441	87	29	distress	distress	NOUN
gujaf-441	87	30	.	.	PUNCT
gujaf-441	88	1	as	as	SCONJ
gujaf-441	88	2	posited	posit	VERB
gujaf-441	88	3	by	by	ADP
gujaf-441	88	4	kraus	kraus	PROPN
gujaf-441	88	5	and	and	CCONJ
gujaf-441	88	6	litzenberger	litzenberger	NOUN
gujaf-441	88	7	(	(	PUNCT
gujaf-441	88	8	1973	1973	NUM
gujaf-441	88	9	)	)	PUNCT
gujaf-441	88	10	,	,	PUNCT
gujaf-441	88	11	this	this	DET
gujaf-441	88	12	framework	framework	NOUN
gujaf-441	88	13	suggests	suggest	VERB
gujaf-441	88	14	an	an	DET
gujaf-441	88	15	optimal	optimal	ADJ
gujaf-441	88	16	debt	debt	NOUN
gujaf-441	88	17	ratio	ratio	NOUN
gujaf-441	88	18	that	that	PRON
gujaf-441	88	19	minimizes	minimize	VERB
gujaf-441	88	20	the	the	DET
gujaf-441	88	21	weighted	weighted	ADJ
gujaf-441	88	22	average	average	ADJ
gujaf-441	88	23	cost	cost	NOUN
gujaf-441	88	24	of	of	ADP
gujaf-441	88	25	capital	capital	NOUN
gujaf-441	88	26	.	.	PUNCT
gujaf-441	89	1	empirical	empirical	ADJ
gujaf-441	89	2	extensions	extension	NOUN
gujaf-441	89	3	of	of	ADP
gujaf-441	89	4	this	this	DET
gujaf-441	89	5	theory	theory	NOUN
gujaf-441	89	6	to	to	ADP
gujaf-441	89	7	smes	sme	NOUN
gujaf-441	89	8	,	,	PUNCT
gujaf-441	89	9	such	such	ADJ
gujaf-441	89	10	as	as	ADP
gujaf-441	89	11	those	those	PRON
gujaf-441	89	12	by	by	ADP
gujaf-441	89	13	kebede	kebede	NOUN
gujaf-441	89	14	and	and	CCONJ
gujaf-441	89	15	kuar	kuar	NOUN
gujaf-441	89	16	(	(	PUNCT
gujaf-441	89	17	2021	2021	NUM
gujaf-441	89	18	)	)	PUNCT
gujaf-441	89	19	,	,	PUNCT
gujaf-441	89	20	suggest	suggest	VERB
gujaf-441	89	21	that	that	SCONJ
gujaf-441	89	22	smes	sme	NOUN
gujaf-441	89	23	in	in	ADP
gujaf-441	89	24	emerging	emerge	VERB
gujaf-441	89	25	economies	economy	NOUN
gujaf-441	89	26	can	can	AUX
gujaf-441	89	27	exhibit	exhibit	VERB
gujaf-441	89	28	adherence	adherence	NOUN
gujaf-441	89	29	to	to	ADP
gujaf-441	89	30	trade	trade	NOUN
gujaf-441	89	31	-	-	PUNCT
gujaf-441	89	32	off	off	ADP
gujaf-441	89	33	principles	principle	NOUN
gujaf-441	89	34	,	,	PUNCT
gujaf-441	89	35	though	though	SCONJ
gujaf-441	89	36	the	the	DET
gujaf-441	89	37	existence	existence	NOUN
gujaf-441	89	38	of	of	ADP
gujaf-441	89	39	underdeveloped	underdeveloped	ADJ
gujaf-441	89	40	credit	credit	NOUN
gujaf-441	89	41	markets	market	NOUN
gujaf-441	89	42	and	and	CCONJ
gujaf-441	89	43	high	high	ADJ
gujaf-441	89	44	agency	agency	NOUN
gujaf-441	89	45	costs	cost	NOUN
gujaf-441	89	46	may	may	AUX
gujaf-441	89	47	shift	shift	VERB
gujaf-441	89	48	the	the	DET
gujaf-441	89	49	equilibrium	equilibrium	NOUN
gujaf-441	89	50	point	point	NOUN
gujaf-441	89	51	.	.	PUNCT
gujaf-441	90	1	in	in	ADP
gujaf-441	90	2	contexts	context	NOUN
gujaf-441	90	3	marked	mark	VERB
gujaf-441	90	4	by	by	ADP
gujaf-441	90	5	institutional	institutional	ADJ
gujaf-441	90	6	voids	void	NOUN
gujaf-441	90	7	,	,	PUNCT
gujaf-441	90	8	the	the	DET
gujaf-441	90	9	trade	trade	NOUN
gujaf-441	90	10	-	-	PUNCT
gujaf-441	90	11	off	off	NOUN
gujaf-441	90	12	between	between	ADP
gujaf-441	90	13	tax	tax	NOUN
gujaf-441	90	14	advantages	advantage	NOUN
gujaf-441	90	15	and	and	CCONJ
gujaf-441	90	16	bankruptcy	bankruptcy	NOUN
gujaf-441	90	17	risk	risk	NOUN
gujaf-441	90	18	can	can	AUX
gujaf-441	90	19	become	become	VERB
gujaf-441	90	20	less	less	ADV
gujaf-441	90	21	pronounced	pronounce	VERB
gujaf-441	90	22	,	,	PUNCT
gujaf-441	90	23	with	with	ADP
gujaf-441	90	24	firms	firm	NOUN
gujaf-441	90	25	often	often	ADV
gujaf-441	90	26	constrained	constrain	VERB
gujaf-441	90	27	from	from	ADP
gujaf-441	90	28	reaching	reach	VERB
gujaf-441	90	29	theoretically	theoretically	ADV
gujaf-441	90	30	optimal	optimal	ADJ
gujaf-441	90	31	leverage	leverage	NOUN
gujaf-441	90	32	levels	level	NOUN
gujaf-441	90	33	(	(	PUNCT
gujaf-441	90	34	machokoto	machokoto	NOUN
gujaf-441	90	35	&	&	CCONJ
gujaf-441	90	36	areneke	areneke	ADJ
gujaf-441	90	37	,	,	PUNCT
gujaf-441	90	38	2021	2021	NUM
gujaf-441	90	39	)	)	PUNCT
gujaf-441	90	40	.	.	PUNCT
gujaf-441	91	1	the	the	DET
gujaf-441	91	2	pecking	pecking	NOUN
gujaf-441	91	3	order	order	NOUN
gujaf-441	91	4	theory	theory	NOUN
gujaf-441	91	5	has	have	AUX
gujaf-441	91	6	been	be	AUX
gujaf-441	91	7	frequently	frequently	ADV
gujaf-441	91	8	invoked	invoke	VERB
gujaf-441	91	9	to	to	PART
gujaf-441	91	10	account	account	VERB
gujaf-441	91	11	for	for	ADP
gujaf-441	91	12	the	the	DET
gujaf-441	91	13	preference	preference	NOUN
gujaf-441	91	14	of	of	ADP
gujaf-441	91	15	smes	sme	NOUN
gujaf-441	91	16	for	for	ADP
gujaf-441	91	17	internal	internal	ADJ
gujaf-441	91	18	financing	financing	NOUN
gujaf-441	91	19	over	over	ADP
gujaf-441	91	20	external	external	ADJ
gujaf-441	91	21	debt	debt	NOUN
gujaf-441	91	22	or	or	CCONJ
gujaf-441	91	23	equity	equity	NOUN
gujaf-441	91	24	.	.	PUNCT
gujaf-441	92	1	rooted	root	VERB
gujaf-441	92	2	in	in	ADP
gujaf-441	92	3	information	information	NOUN
gujaf-441	92	4	asymmetry	asymmetry	NOUN
gujaf-441	92	5	arguments	argument	NOUN
gujaf-441	92	6	(	(	PUNCT
gujaf-441	92	7	myers	myers	PROPN
gujaf-441	92	8	&	&	CCONJ
gujaf-441	92	9	majluf	majluf	PROPN
gujaf-441	92	10	,	,	PUNCT
gujaf-441	92	11	1984	1984	NUM
gujaf-441	92	12	)	)	PUNCT
gujaf-441	92	13	,	,	PUNCT
gujaf-441	92	14	this	this	DET
gujaf-441	92	15	theory	theory	NOUN
gujaf-441	92	16	asserts	assert	VERB
gujaf-441	92	17	that	that	SCONJ
gujaf-441	92	18	firms	firm	NOUN
gujaf-441	92	19	prioritize	prioritize	VERB
gujaf-441	92	20	financing	financing	NOUN
gujaf-441	92	21	sources	source	NOUN
gujaf-441	92	22	that	that	PRON
gujaf-441	92	23	minimize	minimize	VERB
gujaf-441	92	24	the	the	DET
gujaf-441	92	25	need	need	NOUN
gujaf-441	92	26	for	for	ADP
gujaf-441	92	27	external	external	ADJ
gujaf-441	92	28	validation	validation	NOUN
gujaf-441	92	29	or	or	CCONJ
gujaf-441	92	30	exposure	exposure	NOUN
gujaf-441	92	31	to	to	ADP
gujaf-441	92	32	adverse	adverse	ADJ
gujaf-441	92	33	selection	selection	NOUN
gujaf-441	92	34	costs	cost	NOUN
gujaf-441	92	35	.	.	PUNCT
gujaf-441	93	1	empirical	empirical	ADJ
gujaf-441	93	2	evidence	evidence	NOUN
gujaf-441	93	3	in	in	ADP
gujaf-441	93	4	developing	develop	VERB
gujaf-441	93	5	contexts	context	NOUN
gujaf-441	93	6	lends	lend	VERB
gujaf-441	93	7	credence	credence	NOUN
gujaf-441	93	8	to	to	ADP
gujaf-441	93	9	this	this	DET
gujaf-441	93	10	view	view	NOUN
gujaf-441	93	11	.	.	PUNCT
gujaf-441	94	1	nguyen	nguyen	NOUN
gujaf-441	94	2	and	and	CCONJ
gujaf-441	94	3	ramachandran	ramachandran	PROPN
gujaf-441	94	4	(	(	PUNCT
gujaf-441	94	5	2019	2019	NUM
gujaf-441	94	6	)	)	PUNCT
gujaf-441	94	7	,	,	PUNCT
gujaf-441	94	8	for	for	ADP
gujaf-441	94	9	instance	instance	NOUN
gujaf-441	94	10	,	,	PUNCT
gujaf-441	94	11	found	find	VERB
gujaf-441	94	12	that	that	SCONJ
gujaf-441	94	13	vietnamese	vietnamese	ADJ
gujaf-441	94	14	smes	sme	NOUN
gujaf-441	94	15	displayed	display	VERB
gujaf-441	94	16	a	a	DET
gujaf-441	94	17	strongtendencyto	strongtendencyto	PROPN
gujaf-441	94	18	exhaust	exhaust	ADJ
gujaf-441	94	19	internal	internal	ADJ
gujaf-441	94	20	fundsbeforeseekingexternal	fundsbeforeseekingexternal	ADJ
gujaf-441	94	21	debt	debt	NOUN
gujaf-441	94	22	,	,	PUNCT
gujaf-441	94	23	with	with	ADP
gujaf-441	94	24	equityfinancingbeinga	equityfinancingbeinga	NOUN
gujaf-441	94	25	last	last	ADJ
gujaf-441	94	26	resort	resort	NOUN
gujaf-441	94	27	.	.	PUNCT
gujaf-441	95	1	asante	asante	PROPN
gujaf-441	95	2	et	et	PROPN
gujaf-441	95	3	al	al	PROPN
gujaf-441	95	4	.	.	PROPN
gujaf-441	96	1	(	(	PUNCT
gujaf-441	96	2	2023	2023	NUM
gujaf-441	96	3	)	)	PUNCT
gujaf-441	96	4	highlighted	highlight	VERB
gujaf-441	96	5	that	that	SCONJ
gujaf-441	96	6	the	the	DET
gujaf-441	96	7	pecking	pecking	NOUN
gujaf-441	96	8	order	order	NOUN
gujaf-441	96	9	preferences	preference	NOUN
gujaf-441	96	10	of	of	ADP
gujaf-441	96	11	ghanaian	ghanaian	ADJ
gujaf-441	96	12	smes	sme	NOUN
gujaf-441	96	13	may	may	AUX
gujaf-441	96	14	intensify	intensify	VERB
gujaf-441	96	15	during	during	ADP
gujaf-441	96	16	periods	period	NOUN
gujaf-441	96	17	of	of	ADP
gujaf-441	96	18	economic	economic	ADJ
gujaf-441	96	19	uncertainty	uncertainty	NOUN
gujaf-441	96	20	or	or	CCONJ
gujaf-441	96	21	when	when	SCONJ
gujaf-441	96	22	credit	credit	NOUN
gujaf-441	96	23	markets	market	NOUN
gujaf-441	96	24	become	become	VERB
gujaf-441	96	25	more	more	ADV
gujaf-441	96	26	restrictive	restrictive	ADJ
gujaf-441	96	27	.	.	PUNCT
gujaf-441	97	1	these	these	DET
gujaf-441	97	2	patterns	pattern	NOUN
gujaf-441	97	3	underscore	underscore	VERB
gujaf-441	97	4	how	how	SCONJ
gujaf-441	97	5	informational	informational	ADJ
gujaf-441	97	6	opacity	opacity	NOUN
gujaf-441	97	7	and	and	CCONJ
gujaf-441	97	8	institutional	institutional	ADJ
gujaf-441	97	9	weaknesses	weakness	NOUN
gujaf-441	97	10	in	in	ADP
gujaf-441	97	11	developing	develop	VERB
gujaf-441	97	12	countries	country	NOUN
gujaf-441	97	13	can	can	AUX
gujaf-441	97	14	amplify	amplify	VERB
gujaf-441	97	15	the	the	DET
gujaf-441	97	16	reliance	reliance	NOUN
gujaf-441	97	17	of	of	ADP
gujaf-441	97	18	smes	sme	NOUN
gujaf-441	97	19	on	on	ADP
gujaf-441	97	20	internal	internal	ADJ
gujaf-441	97	21	financing	financing	NOUN
gujaf-441	97	22	sources	source	NOUN
gujaf-441	97	23	.	.	PUNCT
gujaf-441	98	1	agency	agency	NOUN
gujaf-441	98	2	theory	theory	NOUN
gujaf-441	98	3	also	also	ADV
gujaf-441	98	4	features	feature	VERB
gujaf-441	98	5	prominently	prominently	ADV
gujaf-441	98	6	in	in	ADP
gujaf-441	98	7	the	the	DET
gujaf-441	98	8	theoretical	theoretical	ADJ
gujaf-441	98	9	discourse	discourse	NOUN
gujaf-441	98	10	on	on	ADP
gujaf-441	98	11	sme	sme	ADJ
gujaf-441	98	12	capital	capital	NOUN
gujaf-441	98	13	structure	structure	NOUN
gujaf-441	98	14	.	.	PUNCT
gujaf-441	99	1	jensen	jensen	PROPN
gujaf-441	99	2	and	and	CCONJ
gujaf-441	99	3	meckling‘s	meckling‘s	PROPN
gujaf-441	99	4	(	(	PUNCT
gujaf-441	99	5	1976	1976	NUM
gujaf-441	99	6	)	)	PUNCT
gujaf-441	99	7	agencycost	agencycost	ADP
gujaf-441	99	8	framework	framework	NOUN
gujaf-441	99	9	posits	posit	NOUN
gujaf-441	99	10	that	that	SCONJ
gujaf-441	99	11	conflicts	conflict	NOUN
gujaf-441	99	12	between	between	ADP
gujaf-441	99	13	managers	manager	NOUN
gujaf-441	99	14	and	and	CCONJ
gujaf-441	99	15	shareholders	shareholder	NOUN
gujaf-441	99	16	,	,	PUNCT
gujaf-441	99	17	or	or	CCONJ
gujaf-441	99	18	between	between	ADP
gujaf-441	99	19	debt	debt	NOUN
gujaf-441	99	20	-	-	PUNCT
gujaf-441	99	21	holders	holder	NOUN
gujaf-441	99	22	and	and	CCONJ
gujaf-441	99	23	equity	equity	NOUN
gujaf-441	99	24	-	-	PUNCT
gujaf-441	99	25	holders	holder	NOUN
gujaf-441	99	26	,	,	PUNCT
gujaf-441	99	27	shape	shape	VERB
gujaf-441	99	28	financing	financing	NOUN
gujaf-441	99	29	decisions	decision	NOUN
gujaf-441	99	30	.	.	PUNCT
gujaf-441	100	1	in	in	ADP
gujaf-441	100	2	sme	sme	NOUN
gujaf-441	100	3	settings	setting	NOUN
gujaf-441	100	4	,	,	PUNCT
gujaf-441	100	5	where	where	SCONJ
gujaf-441	100	6	ownership	ownership	NOUN
gujaf-441	100	7	is	be	AUX
gujaf-441	100	8	often	often	ADV
gujaf-441	100	9	concentrated	concentrated	ADJ
gujaf-441	100	10	and	and	CCONJ
gujaf-441	100	11	management	management	NOUN
gujaf-441	100	12	closely	closely	ADV
gujaf-441	100	13	aligned	align	VERB
gujaf-441	100	14	with	with	ADP
gujaf-441	100	15	owners	owner	NOUN
gujaf-441	100	16	,	,	PUNCT
gujaf-441	100	17	agency	agency	NOUN
gujaf-441	100	18	costs	cost	NOUN
gujaf-441	100	19	between	between	ADP
gujaf-441	100	20	managers	manager	NOUN
gujaf-441	100	21	and	and	CCONJ
gujaf-441	100	22	owners	owner	NOUN
gujaf-441	100	23	may	may	AUX
gujaf-441	100	24	be	be	AUX
gujaf-441	100	25	lower	low	ADJ
gujaf-441	100	26	.	.	PUNCT
gujaf-441	101	1	however	however	ADV
gujaf-441	101	2	,	,	PUNCT
gujaf-441	101	3	agency	agency	NOUN
gujaf-441	101	4	conflicts	conflict	NOUN
gujaf-441	101	5	between	between	ADP
gujaf-441	101	6	firm	firm	ADJ
gujaf-441	101	7	insiders	insider	NOUN
gujaf-441	101	8	and	and	CCONJ
gujaf-441	101	9	external	external	ADJ
gujaf-441	101	10	creditors	creditor	NOUN
gujaf-441	101	11	can	can	AUX
gujaf-441	101	12	still	still	ADV
gujaf-441	101	13	be	be	AUX
gujaf-441	101	14	significant	significant	ADJ
gujaf-441	101	15	,	,	PUNCT
gujaf-441	101	16	especially	especially	ADV
gujaf-441	101	17	in	in	ADP
gujaf-441	101	18	environments	environment	NOUN
gujaf-441	101	19	with	with	ADP
gujaf-441	101	20	weak	weak	ADJ
gujaf-441	101	21	legal	legal	ADJ
gujaf-441	101	22	enforcement	enforcement	NOUN
gujaf-441	101	23	and	and	CCONJ
gujaf-441	101	24	creditor	creditor	NOUN
gujaf-441	101	25	protections	protection	NOUN
gujaf-441	101	26	.	.	PUNCT
gujaf-441	102	1	shah	shah	NOUN
gujaf-441	102	2	and	and	CCONJ
gujaf-441	102	3	khan	khan	PROPN
gujaf-441	102	4	(	(	PUNCT
gujaf-441	102	5	2022	2022	NUM
gujaf-441	102	6	)	)	PUNCT
gujaf-441	102	7	provided	provide	VERB
gujaf-441	102	8	evidence	evidence	NOUN
gujaf-441	102	9	from	from	ADP
gujaf-441	102	10	south	south	ADJ
gujaf-441	102	11	asian	asian	ADJ
gujaf-441	102	12	smes	sme	NOUN
gujaf-441	102	13	suggesting	suggest	VERB
gujaf-441	102	14	that	that	SCONJ
gujaf-441	102	15	ownership	ownership	NOUN
gujaf-441	102	16	concentration	concentration	NOUN
gujaf-441	102	17	can	can	AUX
gujaf-441	102	18	facilitate	facilitate	VERB
gujaf-441	102	19	higher	high	ADJ
gujaf-441	102	20	leverage	leverage	NOUN
gujaf-441	102	21	,	,	PUNCT
gujaf-441	102	22	as	as	SCONJ
gujaf-441	102	23	controlling	control	VERB
gujaf-441	102	24	owners	owner	NOUN
gujaf-441	102	25	may	may	AUX
gujaf-441	102	26	possess	possess	VERB
gujaf-441	102	27	greater	great	ADJ
gujaf-441	102	28	negotiatingpowerwithlenders.nonetheless	negotiatingpowerwithlenders.nonetheless	NOUN
gujaf-441	102	29	,	,	PUNCT
gujaf-441	102	30	this	this	DET
gujaf-441	102	31	dynamiccanbemoderatedbythequalityof	dynamiccanbemoderatedbythequalityof	ADJ
gujaf-441	102	32	institutional	institutional	ADJ
gujaf-441	102	33	frameworks	framework	NOUN
gujaf-441	102	34	and	and	CCONJ
gujaf-441	102	35	the	the	DET
gujaf-441	102	36	presence	presence	NOUN
gujaf-441	102	37	of	of	ADP
gujaf-441	102	38	mechanisms	mechanism	NOUN
gujaf-441	102	39	that	that	PRON
gujaf-441	102	40	protect	protect	VERB
gujaf-441	102	41	minority	minority	NOUN
gujaf-441	102	42	stakeholders	stakeholder	NOUN
gujaf-441	102	43	and	and	CCONJ
gujaf-441	102	44	creditors	creditor	NOUN
gujaf-441	102	45	(	(	PUNCT
gujaf-441	102	46	boateng	boateng	PROPN
gujaf-441	102	47	et	et	PROPN
gujaf-441	102	48	al	al	PROPN
gujaf-441	102	49	.	.	PROPN
gujaf-441	102	50	,	,	PUNCT
gujaf-441	102	51	2022	2022	NUM
gujaf-441	102	52	)	)	PUNCT
gujaf-441	102	53	.	.	PUNCT
gujaf-441	103	1	the	the	DET
gujaf-441	103	2	institutional	institutional	ADJ
gujaf-441	103	3	theory	theory	NOUN
gujaf-441	103	4	of	of	ADP
gujaf-441	103	5	capital	capital	NOUN
gujaf-441	103	6	structure	structure	NOUN
gujaf-441	103	7	has	have	AUX
gujaf-441	103	8	gained	gain	VERB
gujaf-441	103	9	traction	traction	NOUN
gujaf-441	103	10	in	in	ADP
gujaf-441	103	11	explaining	explain	VERB
gujaf-441	103	12	the	the	DET
gujaf-441	103	13	broader	broad	ADJ
gujaf-441	103	14	environmental	environmental	ADJ
gujaf-441	103	15	and	and	CCONJ
gujaf-441	103	16	regulatory	regulatory	ADJ
gujaf-441	103	17	influences	influence	NOUN
gujaf-441	103	18	on	on	ADP
gujaf-441	103	19	financing	financing	NOUN
gujaf-441	103	20	decisions	decision	NOUN
gujaf-441	103	21	,	,	PUNCT
gujaf-441	103	22	especially	especially	ADV
gujaf-441	103	23	in	in	ADP
gujaf-441	103	24	developing	develop	VERB
gujaf-441	103	25	economies	economy	NOUN
gujaf-441	103	26	.	.	PUNCT
gujaf-441	104	1	this	this	DET
gujaf-441	104	2	perspective	perspective	NOUN
gujaf-441	104	3	suggests	suggest	VERB
gujaf-441	104	4	that	that	SCONJ
gujaf-441	104	5	formal	formal	ADJ
gujaf-441	104	6	and	and	CCONJ
gujaf-441	104	7	informal	informal	ADJ
gujaf-441	104	8	institutional	institutional	ADJ
gujaf-441	104	9	arrangements	arrangement	NOUN
gujaf-441	104	10	,	,	PUNCT
gujaf-441	104	11	including	include	VERB
gujaf-441	104	12	legal	legal	ADJ
gujaf-441	104	13	systems	system	NOUN
gujaf-441	104	14	,	,	PUNCT
gujaf-441	104	15	financial	financial	ADJ
gujaf-441	104	16	infrastructure	infrastructure	NOUN
gujaf-441	104	17	,	,	PUNCT
gujaf-441	104	18	and	and	CCONJ
gujaf-441	104	19	cultural	cultural	ADJ
gujaf-441	104	20	norms	norm	NOUN
gujaf-441	104	21	,	,	PUNCT
gujaf-441	104	22	can	can	AUX
gujaf-441	104	23	shape	shape	VERB
gujaf-441	104	24	capital	capital	NOUN
gujaf-441	104	25	structure	structure	NOUN
gujaf-441	104	26	outcomes	outcome	NOUN
gujaf-441	104	27	beyond	beyond	ADP
gujaf-441	104	28	firm	firm	ADJ
gujaf-441	104	29	-	-	PUNCT
gujaf-441	104	30	specific	specific	ADJ
gujaf-441	104	31	factors	factor	NOUN
gujaf-441	104	32	(	(	PUNCT
gujaf-441	104	33	north	north	NOUN
gujaf-441	104	34	,	,	PUNCT
gujaf-441	104	35	1990	1990	NUM
gujaf-441	104	36	)	)	PUNCT
gujaf-441	104	37	.	.	PUNCT
gujaf-441	105	1	osei	osei	PROPN
gujaf-441	105	2	-	-	PUNCT
gujaf-441	105	3	assibey	assibey	PROPN
gujaf-441	105	4	and	and	CCONJ
gujaf-441	105	5	bokpin	bokpin	NOUN
gujaf-441	105	6	(	(	PUNCT
gujaf-441	105	7	2016	2016	NUM
gujaf-441	105	8	)	)	PUNCT
gujaf-441	105	9	illustrated	illustrate	VERB
gujaf-441	105	10	how	how	SCONJ
gujaf-441	105	11	differences	difference	NOUN
gujaf-441	105	12	in	in	ADP
gujaf-441	105	13	institutional	institutional	ADJ
gujaf-441	105	14	quality	quality	NOUN
gujaf-441	105	15	across	across	ADP
gujaf-441	105	16	west	west	ADJ
gujaf-441	105	17	african	african	ADJ
gujaf-441	105	18	countries	country	NOUN
gujaf-441	105	19	contributed	contribute	VERB
gujaf-441	105	20	to	to	ADP
gujaf-441	105	21	varying	vary	VERB
gujaf-441	105	22	leverage	leverage	NOUN
gujaf-441	105	23	levels	level	NOUN
gujaf-441	105	24	among	among	ADP
gujaf-441	105	25	smes	sme	NOUN
gujaf-441	105	26	,	,	PUNCT
gujaf-441	105	27	with	with	ADP
gujaf-441	105	28	stronger	strong	ADJ
gujaf-441	105	29	institutions	institution	NOUN
gujaf-441	105	30	facilitating	facilitate	VERB
gujaf-441	105	31	greater	great	ADJ
gujaf-441	105	32	access	access	NOUN
gujaf-441	105	33	to	to	ADP
gujaf-441	105	34	external	external	ADJ
gujaf-441	105	35	finance	finance	NOUN
gujaf-441	105	36	.	.	PUNCT
gujaf-441	106	1	similarly	similarly	ADV
gujaf-441	106	2	,	,	PUNCT
gujaf-441	106	3	ruiz	ruiz	NOUN
gujaf-441	106	4	and	and	CCONJ
gujaf-441	106	5	villalobos	villalobos	PROPN
gujaf-441	106	6	(	(	PUNCT
gujaf-441	106	7	2024	2024	NUM
gujaf-441	106	8	)	)	PUNCT
gujaf-441	106	9	emphasized	emphasize	VERB
gujaf-441	106	10	the	the	DET
gujaf-441	106	11	role	role	NOUN
gujaf-441	106	12	of	of	ADP
gujaf-441	106	13	macro	macro	ADJ
gujaf-441	106	14	-	-	ADJ
gujaf-441	106	15	institutional	institutional	ADJ
gujaf-441	106	16	stability	stability	NOUN
gujaf-441	106	17	in	in	ADP
gujaf-441	106	18	latin	latin	PROPN
gujaf-441	106	19	america	america	PROPN
gujaf-441	106	20	,	,	PUNCT
gujaf-441	106	21	where	where	SCONJ
gujaf-441	106	22	smes	sme	NOUN
gujaf-441	106	23	operating	operate	VERB
gujaf-441	106	24	in	in	ADP
gujaf-441	106	25	countries	country	NOUN
gujaf-441	106	26	with	with	ADP
gujaf-441	106	27	sounder	sounder	ADJ
gujaf-441	106	28	institutional	institutional	ADJ
gujaf-441	106	29	environments	environment	NOUN
gujaf-441	106	30	tended	tend	VERB
gujaf-441	106	31	to	to	PART
gujaf-441	106	32	hold	hold	VERB
gujaf-441	106	33	higher	high	ADJ
gujaf-441	106	34	levels	level	NOUN
gujaf-441	106	35	of	of	ADP
gujaf-441	106	36	debt	debt	NOUN
gujaf-441	106	37	.	.	PUNCT
gujaf-441	107	1	such	such	ADJ
gujaf-441	107	2	findings	finding	NOUN
gujaf-441	107	3	highlightthatinstitutionalcontextsnotonlyshapefinancingopportunitiesbutcanalso	highlightthatinstitutionalcontextsnotonlyshapefinancingopportunitiesbutcanalso	NOUN
gujaf-441	107	4	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	107	5	,	,	PUNCT
gujaf-441	107	6	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	107	7	422	422	NUM
gujaf-441	107	8	influence	influence	NOUN
gujaf-441	107	9	the	the	DET
gujaf-441	107	10	degree	degree	NOUN
gujaf-441	107	11	to	to	PART
gujaf-441	107	12	which	which	PRON
gujaf-441	107	13	classical	classical	ADJ
gujaf-441	107	14	theories	theory	NOUN
gujaf-441	107	15	like	like	ADP
gujaf-441	107	16	trade	trade	NOUN
gujaf-441	107	17	-	-	PUNCT
gujaf-441	107	18	off	off	NOUN
gujaf-441	107	19	or	or	CCONJ
gujaf-441	107	20	pecking	pecking	NOUN
gujaf-441	107	21	order	order	NOUN
gujaf-441	107	22	apply	apply	VERB
gujaf-441	107	23	in	in	ADP
gujaf-441	107	24	practice	practice	NOUN
gujaf-441	107	25	.	.	PUNCT
gujaf-441	108	1	emerging	emerge	VERB
gujaf-441	108	2	theoretical	theoretical	ADJ
gujaf-441	108	3	frameworks	framework	NOUN
gujaf-441	108	4	have	have	AUX
gujaf-441	108	5	also	also	ADV
gujaf-441	108	6	begun	begin	VERB
gujaf-441	108	7	to	to	PART
gujaf-441	108	8	incorporate	incorporate	VERB
gujaf-441	108	9	behavioral	behavioral	ADJ
gujaf-441	108	10	andtechnological	andtechnological	ADJ
gujaf-441	108	11	dimensions	dimension	NOUN
gujaf-441	108	12	into	into	ADP
gujaf-441	108	13	capital	capital	NOUN
gujaf-441	108	14	structure	structure	NOUN
gujaf-441	108	15	analysis	analysis	NOUN
gujaf-441	108	16	.	.	PUNCT
gujaf-441	109	1	for	for	ADP
gujaf-441	109	2	instance	instance	NOUN
gujaf-441	109	3	,	,	PUNCT
gujaf-441	109	4	the	the	DET
gujaf-441	109	5	behavioral	behavioral	ADJ
gujaf-441	109	6	theoryof	theoryof	NOUN
gujaf-441	109	7	the	the	DET
gujaf-441	109	8	firm	firm	NOUN
gujaf-441	109	9	,	,	PUNCT
gujaf-441	109	10	as	as	SCONJ
gujaf-441	109	11	extended	extend	VERB
gujaf-441	109	12	by	by	ADP
gujaf-441	109	13	recent	recent	ADJ
gujaf-441	109	14	scholars	scholar	NOUN
gujaf-441	109	15	,	,	PUNCT
gujaf-441	109	16	suggests	suggest	VERB
gujaf-441	109	17	that	that	SCONJ
gujaf-441	109	18	cognitive	cognitive	ADJ
gujaf-441	109	19	biases	bias	NOUN
gujaf-441	109	20	and	and	CCONJ
gujaf-441	109	21	heuristics	heuristic	NOUN
gujaf-441	109	22	of	of	ADP
gujaf-441	109	23	sme	sme	NOUN
gujaf-441	109	24	ownermanagers	ownermanager	NOUN
gujaf-441	109	25	may	may	AUX
gujaf-441	109	26	affect	affect	VERB
gujaf-441	109	27	debt	debt	NOUN
gujaf-441	109	28	choices	choice	NOUN
gujaf-441	109	29	independently	independently	ADV
gujaf-441	109	30	of	of	ADP
gujaf-441	109	31	rational	rational	ADJ
gujaf-441	109	32	cost	cost	NOUN
gujaf-441	109	33	-	-	PUNCT
gujaf-441	109	34	benefit	benefit	NOUN
gujaf-441	109	35	calculations	calculation	NOUN
gujaf-441	109	36	(	(	PUNCT
gujaf-441	109	37	kungu	kungu	PROPN
gujaf-441	109	38	et	et	PROPN
gujaf-441	109	39	al	al	PROPN
gujaf-441	109	40	.	.	PROPN
gujaf-441	109	41	,	,	PUNCT
gujaf-441	109	42	2020	2020	NUM
gujaf-441	109	43	)	)	PUNCT
gujaf-441	109	44	.	.	PUNCT
gujaf-441	110	1	machokoto	machokoto	NOUN
gujaf-441	110	2	and	and	CCONJ
gujaf-441	110	3	areneke	areneke	ADJ
gujaf-441	110	4	(	(	PUNCT
gujaf-441	110	5	2021	2021	NUM
gujaf-441	110	6	)	)	PUNCT
gujaf-441	110	7	noted	note	VERB
gujaf-441	110	8	that	that	SCONJ
gujaf-441	110	9	over	over	NOUN
gujaf-441	110	10	-	-	PUNCT
gujaf-441	110	11	optimism	optimism	NOUN
gujaf-441	110	12	amongsmeowners	amongsmeowner	NOUN
gujaf-441	110	13	couldleadtohigherleverage	couldleadtohigherleverage	NOUN
gujaf-441	110	14	atcertainquantilesofthe	atcertainquantilesofthe	NOUN
gujaf-441	110	15	debtdistribution	debtdistribution	NOUN
gujaf-441	110	16	,	,	PUNCT
gujaf-441	110	17	a	a	DET
gujaf-441	110	18	finding	finding	NOUN
gujaf-441	110	19	that	that	PRON
gujaf-441	110	20	aligns	align	VERB
gujaf-441	110	21	with	with	ADP
gujaf-441	110	22	the	the	DET
gujaf-441	110	23	behavioral	behavioral	ADJ
gujaf-441	110	24	finance	finance	NOUN
gujaf-441	110	25	literature	literature	NOUN
gujaf-441	110	26	.	.	PUNCT
gujaf-441	111	1	asante	asante	PROPN
gujaf-441	111	2	et	et	PROPN
gujaf-441	111	3	al	al	PROPN
gujaf-441	111	4	.	.	PROPN
gujaf-441	112	1	(	(	PUNCT
gujaf-441	112	2	2023	2023	NUM
gujaf-441	112	3	)	)	PUNCT
gujaf-441	112	4	proposed	propose	VERB
gujaf-441	112	5	that	that	SCONJ
gujaf-441	112	6	fintech	fintech	NOUN
gujaf-441	112	7	credit	credit	NOUN
gujaf-441	112	8	may	may	AUX
gujaf-441	112	9	relax	relax	VERB
gujaf-441	112	10	traditional	traditional	ADJ
gujaf-441	112	11	pecking	pecking	NOUN
gujaf-441	112	12	order	order	NOUN
gujaf-441	112	13	constraints	constraint	NOUN
gujaf-441	112	14	by	by	ADP
gujaf-441	112	15	reducing	reduce	VERB
gujaf-441	112	16	information	information	NOUN
gujaf-441	112	17	asymmetries	asymmetry	NOUN
gujaf-441	112	18	and	and	CCONJ
gujaf-441	112	19	expanding	expand	VERB
gujaf-441	112	20	access	access	NOUN
gujaf-441	112	21	to	to	ADP
gujaf-441	112	22	external	external	ADJ
gujaf-441	112	23	finance	finance	NOUN
gujaf-441	112	24	,	,	PUNCT
gujaf-441	112	25	especially	especially	ADV
gujaf-441	112	26	for	for	ADP
gujaf-441	112	27	firms	firm	NOUN
gujaf-441	112	28	previously	previously	ADV
gujaf-441	112	29	excluded	exclude	VERB
gujaf-441	112	30	from	from	ADP
gujaf-441	112	31	formal	formal	ADJ
gujaf-441	112	32	credit	credit	NOUN
gujaf-441	112	33	systems	system	NOUN
gujaf-441	112	34	.	.	PUNCT
gujaf-441	113	1	empiricalreview	empiricalreview	VERB
gujaf-441	113	2	the	the	DET
gujaf-441	113	3	determinants	determinant	NOUN
gujaf-441	113	4	of	of	ADP
gujaf-441	113	5	capital	capital	NOUN
gujaf-441	113	6	structure	structure	NOUN
gujaf-441	113	7	among	among	ADP
gujaf-441	113	8	smes	sme	NOUN
gujaf-441	113	9	in	in	ADP
gujaf-441	113	10	developing	develop	VERB
gujaf-441	113	11	countries	country	NOUN
gujaf-441	113	12	have	have	AUX
gujaf-441	113	13	been	be	AUX
gujaf-441	113	14	widely	widely	ADV
gujaf-441	113	15	examined	examine	VERB
gujaf-441	113	16	,	,	PUNCT
gujaf-441	113	17	with	with	ADP
gujaf-441	113	18	research	research	NOUN
gujaf-441	113	19	increasingly	increasingly	ADV
gujaf-441	113	20	highlighting	highlight	VERB
gujaf-441	113	21	the	the	DET
gujaf-441	113	22	interplay	interplay	NOUN
gujaf-441	113	23	between	between	ADP
gujaf-441	113	24	firm	firm	ADJ
gujaf-441	113	25	-	-	PUNCT
gujaf-441	113	26	level	level	NOUN
gujaf-441	113	27	characteristics	characteristic	NOUN
gujaf-441	113	28	and	and	CCONJ
gujaf-441	113	29	macroeconomic	macroeconomic	ADJ
gujaf-441	113	30	factors	factor	NOUN
gujaf-441	113	31	in	in	ADP
gujaf-441	113	32	shaping	shape	VERB
gujaf-441	113	33	financing	financing	NOUN
gujaf-441	113	34	decisions	decision	NOUN
gujaf-441	113	35	.	.	PUNCT
gujaf-441	114	1	abor	abor	NOUN
gujaf-441	114	2	and	and	CCONJ
gujaf-441	114	3	biekpe	biekpe	NOUN
gujaf-441	114	4	(	(	PUNCT
gujaf-441	114	5	2015	2015	NUM
gujaf-441	114	6	)	)	PUNCT
gujaf-441	114	7	using	use	VERB
gujaf-441	114	8	panel	panel	NOUN
gujaf-441	114	9	data	datum	NOUN
gujaf-441	114	10	on	on	ADP
gujaf-441	114	11	west	west	ADJ
gujaf-441	114	12	african	african	ADJ
gujaf-441	114	13	smes	sme	NOUN
gujaf-441	114	14	indicated	indicate	VERB
gujaf-441	114	15	that	that	DET
gujaf-441	114	16	size	size	NOUN
gujaf-441	114	17	,	,	PUNCT
gujaf-441	114	18	asset	asset	NOUN
gujaf-441	114	19	tangibility	tangibility	NOUN
gujaf-441	114	20	,	,	PUNCT
gujaf-441	114	21	and	and	CCONJ
gujaf-441	114	22	profitability	profitability	NOUN
gujaf-441	114	23	may	may	AUX
gujaf-441	114	24	be	be	AUX
gujaf-441	114	25	positively	positively	ADV
gujaf-441	114	26	associated	associate	VERB
gujaf-441	114	27	with	with	ADP
gujaf-441	114	28	leverage	leverage	NOUN
gujaf-441	114	29	,	,	PUNCT
gujaf-441	114	30	although	although	SCONJ
gujaf-441	114	31	these	these	DET
gujaf-441	114	32	effects	effect	NOUN
gujaf-441	114	33	appeared	appear	VERB
gujaf-441	114	34	to	to	PART
gujaf-441	114	35	vary	vary	VERB
gujaf-441	114	36	with	with	ADP
gujaf-441	114	37	firm	firm	ADJ
gujaf-441	114	38	age	age	NOUN
gujaf-441	114	39	and	and	CCONJ
gujaf-441	114	40	industry	industry	NOUN
gujaf-441	114	41	sector	sector	NOUN
gujaf-441	114	42	.	.	PUNCT
gujaf-441	115	1	osei	osei	PROPN
gujaf-441	115	2	-	-	PUNCT
gujaf-441	115	3	assibey	assibey	PROPN
gujaf-441	115	4	and	and	CCONJ
gujaf-441	115	5	bokpin	bokpin	NOUN
gujaf-441	115	6	(	(	PUNCT
gujaf-441	115	7	2016	2016	NUM
gujaf-441	115	8	)	)	PUNCT
gujaf-441	115	9	expanded	expand	VERB
gujaf-441	115	10	this	this	DET
gujaf-441	115	11	analysis	analysis	NOUN
gujaf-441	115	12	to	to	ADP
gujaf-441	115	13	a	a	DET
gujaf-441	115	14	multi	multi	ADJ
gujaf-441	115	15	-	-	ADJ
gujaf-441	115	16	country	country	ADJ
gujaf-441	115	17	setting	setting	NOUN
gujaf-441	115	18	,	,	PUNCT
gujaf-441	115	19	suggesting	suggest	VERB
gujaf-441	115	20	that	that	SCONJ
gujaf-441	115	21	while	while	SCONJ
gujaf-441	115	22	firm	firm	ADJ
gujaf-441	115	23	-	-	PUNCT
gujaf-441	115	24	specific	specific	ADJ
gujaf-441	115	25	factors	factor	NOUN
gujaf-441	115	26	dominate	dominate	VERB
gujaf-441	115	27	capital	capital	NOUN
gujaf-441	115	28	structure	structure	NOUN
gujaf-441	115	29	decisions	decision	NOUN
gujaf-441	115	30	,	,	PUNCT
gujaf-441	115	31	institutional	institutional	ADJ
gujaf-441	115	32	quality	quality	NOUN
gujaf-441	115	33	and	and	CCONJ
gujaf-441	115	34	financial	financial	ADJ
gujaf-441	115	35	market	market	NOUN
gujaf-441	115	36	development	development	NOUN
gujaf-441	115	37	can	can	AUX
gujaf-441	115	38	moderate	moderate	VERB
gujaf-441	115	39	these	these	DET
gujaf-441	115	40	relationships	relationship	NOUN
gujaf-441	115	41	.	.	PUNCT
gujaf-441	116	1	studies	study	NOUN
gujaf-441	116	2	focusing	focus	VERB
gujaf-441	116	3	on	on	ADP
gujaf-441	116	4	south	south	PROPN
gujaf-441	116	5	asia	asia	PROPN
gujaf-441	116	6	,	,	PUNCT
gujaf-441	116	7	such	such	ADJ
gujaf-441	116	8	as	as	ADP
gujaf-441	116	9	that	that	PRON
gujaf-441	116	10	of	of	ADP
gujaf-441	116	11	habib	habib	PROPN
gujaf-441	116	12	et	et	PROPN
gujaf-441	116	13	al	al	PROPN
gujaf-441	116	14	.	.	PROPN
gujaf-441	116	15	(	(	PUNCT
gujaf-441	116	16	2017	2017	NUM
gujaf-441	116	17	)	)	PUNCT
gujaf-441	116	18	,	,	PUNCT
gujaf-441	116	19	reported	report	VERB
gujaf-441	116	20	that	that	SCONJ
gujaf-441	116	21	smes	sme	NOUN
gujaf-441	116	22	‘	'	PUNCT
gujaf-441	116	23	debt	debt	NOUN
gujaf-441	116	24	choices	choice	NOUN
gujaf-441	116	25	were	be	AUX
gujaf-441	116	26	strongly	strongly	ADV
gujaf-441	116	27	influenced	influence	VERB
gujaf-441	116	28	by	by	ADP
gujaf-441	116	29	both	both	PRON
gujaf-441	116	30	collateral	collateral	ADJ
gujaf-441	116	31	availability	availability	NOUN
gujaf-441	116	32	and	and	CCONJ
gujaf-441	116	33	owner	owner	NOUN
gujaf-441	116	34	-	-	PUNCT
gujaf-441	116	35	manager	manager	NOUN
gujaf-441	116	36	risk	risk	NOUN
gujaf-441	116	37	preferences	preference	NOUN
gujaf-441	116	38	,	,	PUNCT
gujaf-441	116	39	with	with	ADP
gujaf-441	116	40	macroeconomic	macroeconomic	ADJ
gujaf-441	116	41	volatility	volatility	NOUN
gujaf-441	116	42	further	far	ADV
gujaf-441	116	43	constraining	constrain	VERB
gujaf-441	116	44	borrowing	borrowing	NOUN
gujaf-441	116	45	capacity	capacity	NOUN
gujaf-441	116	46	during	during	ADP
gujaf-441	116	47	periods	period	NOUN
gujaf-441	116	48	of	of	ADP
gujaf-441	116	49	high	high	ADJ
gujaf-441	116	50	inflation	inflation	NOUN
gujaf-441	116	51	.	.	PUNCT
gujaf-441	117	1	profitability	profitability	NOUN
gujaf-441	117	2	remains	remain	VERB
gujaf-441	117	3	a	a	DET
gujaf-441	117	4	focal	focal	ADJ
gujaf-441	117	5	variable	variable	NOUN
gujaf-441	117	6	in	in	ADP
gujaf-441	117	7	many	many	ADJ
gujaf-441	117	8	empirical	empirical	ADJ
gujaf-441	117	9	analyses	analysis	NOUN
gujaf-441	117	10	,	,	PUNCT
gujaf-441	117	11	though	though	SCONJ
gujaf-441	117	12	the	the	DET
gujaf-441	117	13	direction	direction	NOUN
gujaf-441	117	14	of	of	ADP
gujaf-441	117	15	its	its	PRON
gujaf-441	117	16	association	association	NOUN
gujaf-441	117	17	with	with	ADP
gujaf-441	117	18	leverage	leverage	NOUN
gujaf-441	117	19	is	be	AUX
gujaf-441	117	20	often	often	ADV
gujaf-441	117	21	debated	debate	VERB
gujaf-441	117	22	.	.	PUNCT
gujaf-441	118	1	for	for	ADP
gujaf-441	118	2	instance	instance	NOUN
gujaf-441	118	3	,	,	PUNCT
gujaf-441	118	4	research	research	NOUN
gujaf-441	118	5	by	by	ADP
gujaf-441	118	6	nguyen	nguyen	NOUN
gujaf-441	118	7	and	and	CCONJ
gujaf-441	118	8	ramachandran	ramachandran	PROPN
gujaf-441	118	9	(	(	PUNCT
gujaf-441	118	10	2019	2019	NUM
gujaf-441	118	11	)	)	PUNCT
gujaf-441	118	12	on	on	ADP
gujaf-441	118	13	vietnamese	vietnamese	ADJ
gujaf-441	118	14	smes	sme	NOUN
gujaf-441	118	15	found	find	VERB
gujaf-441	118	16	that	that	SCONJ
gujaf-441	118	17	more	more	ADV
gujaf-441	118	18	profitable	profitable	ADJ
gujaf-441	118	19	firms	firm	NOUN
gujaf-441	118	20	tended	tend	VERB
gujaf-441	118	21	to	to	PART
gujaf-441	118	22	rely	rely	VERB
gujaf-441	118	23	less	less	ADV
gujaf-441	118	24	on	on	ADP
gujaf-441	118	25	debt	debt	NOUN
gujaf-441	118	26	,	,	PUNCT
gujaf-441	118	27	lending	lend	VERB
gujaf-441	118	28	support	support	NOUN
gujaf-441	118	29	to	to	ADP
gujaf-441	118	30	pecking	pecking	NOUN
gujaf-441	118	31	order	order	NOUN
gujaf-441	118	32	theory	theory	NOUN
gujaf-441	118	33	.	.	PUNCT
gujaf-441	119	1	asiedu	asiedu	PROPN
gujaf-441	119	2	-	-	PROPN
gujaf-441	119	3	akrofi	akrofi	ADV
gujaf-441	119	4	et	et	PROPN
gujaf-441	119	5	al	al	PROPN
gujaf-441	119	6	.	.	PROPN
gujaf-441	120	1	(	(	PUNCT
gujaf-441	120	2	2018	2018	NUM
gujaf-441	120	3	)	)	PUNCT
gujaf-441	120	4	reported	report	VERB
gujaf-441	120	5	a	a	DET
gujaf-441	120	6	positive	positive	ADJ
gujaf-441	120	7	link	link	NOUN
gujaf-441	120	8	between	between	ADP
gujaf-441	120	9	profitability	profitability	NOUN
gujaf-441	120	10	and	and	CCONJ
gujaf-441	120	11	leverage	leverage	NOUN
gujaf-441	120	12	among	among	ADP
gujaf-441	120	13	ghanaian	ghanaian	ADJ
gujaf-441	120	14	smes	sme	NOUN
gujaf-441	120	15	,	,	PUNCT
gujaf-441	120	16	suggesting	suggest	VERB
gujaf-441	120	17	that	that	SCONJ
gujaf-441	120	18	profitable	profitable	ADJ
gujaf-441	120	19	firms	firm	NOUN
gujaf-441	120	20	may	may	AUX
gujaf-441	120	21	have	have	VERB
gujaf-441	120	22	better	well	ADJ
gujaf-441	120	23	access	access	NOUN
gujaf-441	120	24	to	to	ADP
gujaf-441	120	25	credit	credit	NOUN
gujaf-441	120	26	due	due	ADP
gujaf-441	120	27	to	to	ADP
gujaf-441	120	28	lower	low	ADJ
gujaf-441	120	29	perceived	perceive	VERB
gujaf-441	120	30	risk	risk	NOUN
gujaf-441	120	31	.	.	PUNCT
gujaf-441	121	1	firm	firm	ADJ
gujaf-441	121	2	size	size	NOUN
gujaf-441	121	3	also	also	ADV
gujaf-441	121	4	frequently	frequently	ADV
gujaf-441	121	5	emerges	emerge	VERB
gujaf-441	121	6	as	as	ADP
gujaf-441	121	7	a	a	DET
gujaf-441	121	8	significant	significant	ADJ
gujaf-441	121	9	predictor	predictor	NOUN
gujaf-441	121	10	,	,	PUNCT
gujaf-441	121	11	with	with	ADP
gujaf-441	121	12	larger	large	ADJ
gujaf-441	121	13	smes	sme	NOUN
gujaf-441	121	14	often	often	ADV
gujaf-441	121	15	exhibiting	exhibit	VERB
gujaf-441	121	16	higher	high	ADJ
gujaf-441	121	17	leverage	leverage	NOUN
gujaf-441	121	18	ratios	ratio	NOUN
gujaf-441	121	19	,	,	PUNCT
gujaf-441	121	20	potentially	potentially	ADV
gujaf-441	121	21	due	due	ADJ
gujaf-441	121	22	to	to	ADP
gujaf-441	121	23	reduced	reduce	VERB
gujaf-441	121	24	information	information	NOUN
gujaf-441	121	25	asymmetry	asymmetry	NOUN
gujaf-441	121	26	and	and	CCONJ
gujaf-441	121	27	stronger	strong	ADJ
gujaf-441	121	28	bargaining	bargaining	NOUN
gujaf-441	121	29	power	power	NOUN
gujaf-441	121	30	(	(	PUNCT
gujaf-441	121	31	ibrahim	ibrahim	PROPN
gujaf-441	121	32	&	&	CCONJ
gujaf-441	121	33	how	how	SCONJ
gujaf-441	121	34	,	,	PUNCT
gujaf-441	121	35	2017	2017	NUM
gujaf-441	121	36	;	;	PUNCT
gujaf-441	121	37	kungu	kungu	PROPN
gujaf-441	121	38	et	et	PROPN
gujaf-441	121	39	al	al	PROPN
gujaf-441	121	40	.	.	PROPN
gujaf-441	121	41	,	,	PUNCT
gujaf-441	121	42	2020	2020	NUM
gujaf-441	121	43	)	)	PUNCT
gujaf-441	121	44	.	.	PUNCT
gujaf-441	122	1	agyei	agyei	PROPN
gujaf-441	122	2	and	and	CCONJ
gujaf-441	122	3	owusu	owusu	PROPN
gujaf-441	122	4	(	(	PUNCT
gujaf-441	122	5	2018	2018	NUM
gujaf-441	122	6	)	)	PUNCT
gujaf-441	122	7	caution	caution	NOUN
gujaf-441	122	8	thatsize	thatsize	NOUN
gujaf-441	122	9	effects	effect	NOUN
gujaf-441	122	10	may	may	AUX
gujaf-441	122	11	diminish	diminish	VERB
gujaf-441	122	12	in	in	ADP
gujaf-441	122	13	environments	environment	NOUN
gujaf-441	122	14	with	with	ADP
gujaf-441	122	15	underdeveloped	underdeveloped	ADJ
gujaf-441	122	16	credit	credit	NOUN
gujaf-441	122	17	markets	market	NOUN
gujaf-441	122	18	or	or	CCONJ
gujaf-441	122	19	weak	weak	ADJ
gujaf-441	122	20	creditor	creditor	NOUN
gujaf-441	122	21	rights	right	NOUN
gujaf-441	122	22	.	.	PUNCT
gujaf-441	123	1	macroeconomic	macroeconomic	ADJ
gujaf-441	123	2	conditions	condition	NOUN
gujaf-441	123	3	are	be	AUX
gujaf-441	123	4	increasingly	increasingly	ADV
gujaf-441	123	5	incorporated	incorporate	VERB
gujaf-441	123	6	into	into	ADP
gujaf-441	123	7	empirical	empirical	ADJ
gujaf-441	123	8	models	model	NOUN
gujaf-441	123	9	of	of	ADP
gujaf-441	123	10	sme	sme	ADJ
gujaf-441	123	11	capital	capital	NOUN
gujaf-441	123	12	structure	structure	NOUN
gujaf-441	123	13	.	.	PUNCT
gujaf-441	124	1	dinh	dinh	NOUN
gujaf-441	124	2	and	and	CCONJ
gujaf-441	124	3	pham	pham	PROPN
gujaf-441	124	4	(	(	PUNCT
gujaf-441	124	5	2020	2020	NUM
gujaf-441	124	6	)	)	PUNCT
gujaf-441	124	7	showed	show	VERB
gujaf-441	124	8	that	that	SCONJ
gujaf-441	124	9	inflation	inflation	NOUN
gujaf-441	124	10	and	and	CCONJ
gujaf-441	124	11	interest	interest	NOUN
gujaf-441	124	12	rate	rate	NOUN
gujaf-441	124	13	volatility	volatility	NOUN
gujaf-441	124	14	significantly	significantly	ADV
gujaf-441	124	15	affected	affect	VERB
gujaf-441	124	16	sme	sme	NOUN
gujaf-441	124	17	leverage	leverage	NOUN
gujaf-441	124	18	in	in	ADP
gujaf-441	124	19	emerging	emerge	VERB
gujaf-441	124	20	asian	asian	ADJ
gujaf-441	124	21	economies	economy	NOUN
gujaf-441	124	22	,	,	PUNCT
gujaf-441	124	23	with	with	ADP
gujaf-441	124	24	adverse	adverse	ADJ
gujaf-441	124	25	macroeconomic	macroeconomic	ADJ
gujaf-441	124	26	shocks	shock	NOUN
gujaf-441	124	27	disproportionately	disproportionately	ADV
gujaf-441	124	28	impacting	impact	VERB
gujaf-441	124	29	highly	highly	ADV
gujaf-441	124	30	leveraged	leverage	VERB
gujaf-441	124	31	firms	firm	NOUN
gujaf-441	124	32	.	.	PUNCT
gujaf-441	125	1	similarly	similarly	ADV
gujaf-441	125	2	,	,	PUNCT
gujaf-441	125	3	machokoto	machokoto	ADJ
gujaf-441	125	4	and	and	CCONJ
gujaf-441	125	5	areneke	areneke	ADJ
gujaf-441	125	6	(	(	PUNCT
gujaf-441	125	7	2021	2021	NUM
gujaf-441	125	8	)	)	PUNCT
gujaf-441	125	9	applied	apply	VERB
gujaf-441	125	10	panel	panel	NOUN
gujaf-441	125	11	quantile	quantile	ADJ
gujaf-441	125	12	regression	regression	NOUN
gujaf-441	126	1	and	and	CCONJ
gujaf-441	127	1	demonstrated	demonstrate	VERB
gujaf-441	127	2	that	that	SCONJ
gujaf-441	127	3	macroeconomic	macroeconomic	ADJ
gujaf-441	127	4	uncertainty	uncertainty	NOUN
gujaf-441	127	5	may	may	AUX
gujaf-441	127	6	exert	exert	VERB
gujaf-441	127	7	stronger	strong	ADJ
gujaf-441	127	8	negative	negative	ADJ
gujaf-441	127	9	effects	effect	NOUN
gujaf-441	127	10	on	on	ADP
gujaf-441	127	11	capital	capital	NOUN
gujaf-441	127	12	structure	structure	NOUN
gujaf-441	127	13	at	at	ADP
gujaf-441	127	14	higher	high	ADJ
gujaf-441	127	15	quantiles	quantile	NOUN
gujaf-441	127	16	of	of	ADP
gujaf-441	127	17	leverage	leverage	NOUN
gujaf-441	127	18	distribution	distribution	NOUN
gujaf-441	127	19	among	among	ADP
gujaf-441	127	20	african	african	ADJ
gujaf-441	127	21	smes	sme	NOUN
gujaf-441	127	22	.	.	PUNCT
gujaf-441	128	1	this	this	DET
gujaf-441	128	2	finding	finding	NOUN
gujaf-441	128	3	suggests	suggest	VERB
gujaf-441	128	4	that	that	SCONJ
gujaf-441	128	5	more	more	ADJ
gujaf-441	128	6	leveragedfirmsmaybemorevulnerabletoexternalshocks.kebedeandkuar(2021)echoed	leveragedfirmsmaybemorevulnerabletoexternalshocks.kebedeandkuar(2021)echoed	PROPN
gujaf-441	128	7	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	128	8	,	,	PUNCT
gujaf-441	128	9	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	128	10	423	423	NUM
gujaf-441	128	11	this	this	PRON
gujaf-441	128	12	in	in	ADP
gujaf-441	128	13	their	their	PRON
gujaf-441	128	14	analysis	analysis	NOUN
gujaf-441	128	15	of	of	ADP
gujaf-441	128	16	sub	sub	ADJ
gujaf-441	128	17	-	-	ADJ
gujaf-441	128	18	saharan	saharan	ADJ
gujaf-441	128	19	smes	sme	NOUN
gujaf-441	128	20	,	,	PUNCT
gujaf-441	128	21	noting	note	VERB
gujaf-441	128	22	that	that	SCONJ
gujaf-441	128	23	gdp	gdp	NOUN
gujaf-441	128	24	growth	growth	NOUN
gujaf-441	128	25	positively	positively	ADV
gujaf-441	128	26	influenced	influence	VERB
gujaf-441	128	27	debt	debt	NOUN
gujaf-441	128	28	ratios	ratio	NOUN
gujaf-441	128	29	,	,	PUNCT
gujaf-441	128	30	but	but	CCONJ
gujaf-441	128	31	only	only	ADV
gujaf-441	128	32	for	for	ADP
gujaf-441	128	33	firms	firm	NOUN
gujaf-441	128	34	above	above	ADP
gujaf-441	128	35	the	the	DET
gujaf-441	128	36	median	median	ADJ
gujaf-441	128	37	leverage	leverage	NOUN
gujaf-441	128	38	level	level	NOUN
gujaf-441	128	39	.	.	PUNCT
gujaf-441	129	1	studies	study	NOUN
gujaf-441	129	2	applying	apply	VERB
gujaf-441	129	3	quantile	quantile	ADJ
gujaf-441	129	4	regression	regression	NOUN
gujaf-441	129	5	or	or	CCONJ
gujaf-441	129	6	other	other	ADJ
gujaf-441	129	7	non	non	ADJ
gujaf-441	129	8	-	-	ADJ
gujaf-441	129	9	mean	mean	ADJ
gujaf-441	129	10	-	-	PUNCT
gujaf-441	129	11	based	base	VERB
gujaf-441	129	12	approaches	approach	NOUN
gujaf-441	129	13	have	have	AUX
gujaf-441	129	14	increasingly	increasingly	ADV
gujaf-441	129	15	revealed	reveal	VERB
gujaf-441	129	16	the	the	DET
gujaf-441	129	17	heterogeneous	heterogeneous	ADJ
gujaf-441	129	18	nature	nature	NOUN
gujaf-441	129	19	of	of	ADP
gujaf-441	129	20	capital	capital	NOUN
gujaf-441	129	21	structure	structure	NOUN
gujaf-441	129	22	determinants	determinant	NOUN
gujaf-441	129	23	.	.	PUNCT
gujaf-441	130	1	wang	wang	PROPN
gujaf-441	130	2	and	and	CCONJ
gujaf-441	130	3	yung	yung	PROPN
gujaf-441	130	4	(	(	PUNCT
gujaf-441	130	5	2022	2022	NUM
gujaf-441	130	6	)	)	PUNCT
gujaf-441	130	7	examined	examine	VERB
gujaf-441	130	8	smes	sme	NOUN
gujaf-441	130	9	in	in	ADP
gujaf-441	130	10	multiple	multiple	ADJ
gujaf-441	130	11	emerging	emerge	VERB
gujaf-441	130	12	markets	market	NOUN
gujaf-441	130	13	and	and	CCONJ
gujaf-441	130	14	found	find	VERB
gujaf-441	130	15	that	that	SCONJ
gujaf-441	130	16	the	the	DET
gujaf-441	130	17	influence	influence	NOUN
gujaf-441	130	18	of	of	ADP
gujaf-441	130	19	assettangibility	assettangibility	NOUN
gujaf-441	130	20	on	on	ADP
gujaf-441	130	21	leverage	leverage	NOUN
gujaf-441	130	22	was	be	AUX
gujaf-441	130	23	more	more	ADV
gujaf-441	130	24	pronounced	pronounce	VERB
gujaf-441	130	25	at	at	ADP
gujaf-441	130	26	the	the	DET
gujaf-441	130	27	upper	upper	ADJ
gujaf-441	130	28	end	end	NOUN
gujaf-441	130	29	of	of	ADP
gujaf-441	130	30	the	the	DET
gujaf-441	130	31	leverage	leverage	NOUN
gujaf-441	130	32	distribution	distribution	NOUN
gujaf-441	130	33	,	,	PUNCT
gujaf-441	130	34	whereas	whereas	SCONJ
gujaf-441	130	35	profitability	profitability	NOUN
gujaf-441	130	36	exerted	exert	VERB
gujaf-441	130	37	stronger	strong	ADJ
gujaf-441	130	38	effects	effect	NOUN
gujaf-441	130	39	at	at	ADP
gujaf-441	130	40	lower	low	ADJ
gujaf-441	130	41	quantiles	quantile	NOUN
gujaf-441	130	42	.	.	PUNCT
gujaf-441	131	1	mensah	mensah	PROPN
gujaf-441	131	2	and	and	CCONJ
gujaf-441	131	3	sarpong	sarpong	PROPN
gujaf-441	131	4	(	(	PUNCT
gujaf-441	131	5	2023	2023	NUM
gujaf-441	131	6	)	)	PUNCT
gujaf-441	131	7	employed	employ	VERB
gujaf-441	131	8	quantile	quantile	ADJ
gujaf-441	131	9	regression	regression	NOUN
gujaf-441	131	10	to	to	PART
gujaf-441	131	11	study	study	VERB
gujaf-441	131	12	smes	sme	NOUN
gujaf-441	131	13	across	across	ADP
gujaf-441	131	14	west	west	PROPN
gujaf-441	131	15	africa	africa	PROPN
gujaf-441	131	16	,	,	PUNCT
gujaf-441	131	17	reporting	report	VERB
gujaf-441	131	18	that	that	SCONJ
gujaf-441	131	19	while	while	SCONJ
gujaf-441	131	20	macroeconomicstabilityfavoured	macroeconomicstabilityfavoure	VERB
gujaf-441	131	21	debt	debt	NOUN
gujaf-441	131	22	accumulationathigher	accumulationathigher	NOUN
gujaf-441	131	23	quantiles	quantile	NOUN
gujaf-441	131	24	,	,	PUNCT
gujaf-441	131	25	its	its	PRON
gujaf-441	131	26	effect	effect	NOUN
gujaf-441	131	27	wasmuted	wasmute	VERB
gujaf-441	131	28	at	at	ADP
gujaf-441	131	29	lower	low	ADJ
gujaf-441	131	30	quantiles	quantile	NOUN
gujaf-441	131	31	where	where	SCONJ
gujaf-441	131	32	firms	firm	NOUN
gujaf-441	131	33	were	be	AUX
gujaf-441	131	34	more	more	ADV
gujaf-441	131	35	reliant	reliant	ADJ
gujaf-441	131	36	on	on	ADP
gujaf-441	131	37	internal	internal	ADJ
gujaf-441	131	38	financing	financing	NOUN
gujaf-441	131	39	.	.	PUNCT
gujaf-441	132	1	these	these	DET
gujaf-441	132	2	findings	finding	NOUN
gujaf-441	132	3	highlight	highlight	VERB
gujaf-441	132	4	the	the	DET
gujaf-441	132	5	importance	importance	NOUN
gujaf-441	132	6	of	of	ADP
gujaf-441	132	7	accounting	account	VERB
gujaf-441	132	8	for	for	ADP
gujaf-441	132	9	heterogeneity	heterogeneity	NOUN
gujaf-441	132	10	across	across	ADP
gujaf-441	132	11	firms	firm	NOUN
gujaf-441	132	12	with	with	ADP
gujaf-441	132	13	different	different	ADJ
gujaf-441	132	14	financial	financial	ADJ
gujaf-441	132	15	profiles	profile	NOUN
gujaf-441	132	16	.	.	PUNCT
gujaf-441	133	1	other	other	ADJ
gujaf-441	133	2	firm	firm	ADJ
gujaf-441	133	3	-	-	PUNCT
gujaf-441	133	4	level	level	NOUN
gujaf-441	133	5	determinants	determinant	NOUN
gujaf-441	133	6	,	,	PUNCT
gujaf-441	133	7	including	include	VERB
gujaf-441	133	8	growth	growth	NOUN
gujaf-441	133	9	opportunities	opportunity	NOUN
gujaf-441	133	10	,	,	PUNCT
gujaf-441	133	11	ownership	ownership	NOUN
gujaf-441	133	12	structure	structure	NOUN
gujaf-441	133	13	,	,	PUNCT
gujaf-441	133	14	and	and	CCONJ
gujaf-441	133	15	exportorientation	exportorientation	NOUN
gujaf-441	133	16	,	,	PUNCT
gujaf-441	133	17	have	have	AUX
gujaf-441	133	18	alsobeen	alsobeen	VERB
gujaf-441	133	19	examined	examine	VERB
gujaf-441	133	20	,	,	PUNCT
gujaf-441	133	21	althoughresultshaveoftenbeenmixed.chenet	althoughresultshaveoftenbeenmixed.chenet	PROPN
gujaf-441	133	22	al	al	PROPN
gujaf-441	133	23	.	.	PUNCT
gujaf-441	134	1	(	(	PUNCT
gujaf-441	134	2	2023	2023	NUM
gujaf-441	134	3	)	)	PUNCT
gujaf-441	134	4	analysed	analyse	VERB
gujaf-441	134	5	smes	sme	NOUN
gujaf-441	134	6	in	in	ADP
gujaf-441	134	7	asean	asean	ADJ
gujaf-441	134	8	economies	economy	NOUN
gujaf-441	135	1	and	and	CCONJ
gujaf-441	136	1	found	find	VERB
gujaf-441	136	2	that	that	SCONJ
gujaf-441	136	3	growth	growth	NOUN
gujaf-441	136	4	opportunities	opportunity	NOUN
gujaf-441	136	5	tended	tend	VERB
gujaf-441	136	6	to	to	PART
gujaf-441	136	7	be	be	AUX
gujaf-441	136	8	negatively	negatively	ADV
gujaf-441	136	9	related	relate	VERB
gujaf-441	136	10	to	to	ADP
gujaf-441	136	11	leverage	leverage	NOUN
gujaf-441	136	12	,	,	PUNCT
gujaf-441	136	13	possibly	possibly	ADV
gujaf-441	136	14	reflecting	reflect	VERB
gujaf-441	136	15	concerns	concern	NOUN
gujaf-441	136	16	over	over	ADP
gujaf-441	136	17	agency	agency	NOUN
gujaf-441	136	18	costs	cost	NOUN
gujaf-441	136	19	of	of	ADP
gujaf-441	136	20	debt	debt	NOUN
gujaf-441	136	21	in	in	ADP
gujaf-441	136	22	high	high	ADJ
gujaf-441	136	23	-	-	PUNCT
gujaf-441	136	24	growth	growth	NOUN
gujaf-441	136	25	firms	firm	NOUN
gujaf-441	136	26	.	.	PUNCT
gujaf-441	137	1	asante	asante	PROPN
gujaf-441	137	2	et	et	PROPN
gujaf-441	137	3	al	al	PROPN
gujaf-441	137	4	.	.	PROPN
gujaf-441	137	5	(	(	PUNCT
gujaf-441	137	6	2023	2023	NUM
gujaf-441	137	7	)	)	PUNCT
gujaf-441	137	8	reported	report	VERB
gujaf-441	137	9	that	that	SCONJ
gujaf-441	137	10	smes	sme	NOUN
gujaf-441	137	11	with	with	ADP
gujaf-441	137	12	export	export	NOUN
gujaf-441	137	13	activities	activity	NOUN
gujaf-441	137	14	exhibited	exhibit	VERB
gujaf-441	137	15	higher	high	ADJ
gujaf-441	137	16	leverage	leverage	NOUN
gujaf-441	137	17	ratios	ratio	NOUN
gujaf-441	137	18	,	,	PUNCT
gujaf-441	137	19	particularly	particularly	ADV
gujaf-441	137	20	in	in	ADP
gujaf-441	137	21	sectors	sector	NOUN
gujaf-441	137	22	where	where	SCONJ
gujaf-441	137	23	foreign	foreign	ADJ
gujaf-441	137	24	earnings	earning	NOUN
gujaf-441	137	25	could	could	AUX
gujaf-441	137	26	serve	serve	VERB
gujaf-441	137	27	as	as	ADP
gujaf-441	137	28	implicit	implicit	ADJ
gujaf-441	137	29	collateral	collateral	NOUN
gujaf-441	137	30	.	.	PUNCT
gujaf-441	138	1	ownership	ownership	NOUN
gujaf-441	138	2	concentration	concentration	NOUN
gujaf-441	138	3	,	,	PUNCT
gujaf-441	138	4	as	as	SCONJ
gujaf-441	138	5	studied	study	VERB
gujaf-441	138	6	by	by	ADP
gujaf-441	138	7	shah	shah	PROPN
gujaf-441	138	8	and	and	CCONJ
gujaf-441	138	9	khan	khan	PROPN
gujaf-441	138	10	(	(	PUNCT
gujaf-441	138	11	2022	2022	NUM
gujaf-441	138	12	)	)	PUNCT
gujaf-441	138	13	,	,	PUNCT
gujaf-441	138	14	appeared	appear	VERB
gujaf-441	138	15	to	to	PART
gujaf-441	138	16	be	be	AUX
gujaf-441	138	17	positively	positively	ADV
gujaf-441	138	18	associated	associate	VERB
gujaf-441	138	19	with	with	ADP
gujaf-441	138	20	leverage	leverage	NOUN
gujaf-441	138	21	in	in	ADP
gujaf-441	138	22	south	south	ADJ
gujaf-441	138	23	asian	asian	ADJ
gujaf-441	138	24	smes	sme	NOUN
gujaf-441	138	25	,	,	PUNCT
gujaf-441	138	26	with	with	ADP
gujaf-441	138	27	the	the	DET
gujaf-441	138	28	authors	author	NOUN
gujaf-441	138	29	suggesting	suggest	VERB
gujaf-441	138	30	that	that	SCONJ
gujaf-441	138	31	controlling	control	VERB
gujaf-441	138	32	owners	owner	NOUN
gujaf-441	138	33	may	may	AUX
gujaf-441	138	34	have	have	VERB
gujaf-441	138	35	greater	great	ADJ
gujaf-441	138	36	ability	ability	NOUN
gujaf-441	138	37	to	to	PART
gujaf-441	138	38	secure	secure	VERB
gujaf-441	138	39	external	external	ADJ
gujaf-441	138	40	finance	finance	NOUN
gujaf-441	138	41	,	,	PUNCT
gujaf-441	138	42	although	although	SCONJ
gujaf-441	138	43	such	such	ADJ
gujaf-441	138	44	relationships	relationship	NOUN
gujaf-441	138	45	can	can	AUX
gujaf-441	138	46	be	be	AUX
gujaf-441	138	47	contingent	contingent	ADJ
gujaf-441	138	48	on	on	ADP
gujaf-441	138	49	legal	legal	ADJ
gujaf-441	138	50	protections	protection	NOUN
gujaf-441	138	51	for	for	ADP
gujaf-441	138	52	minority	minority	NOUN
gujaf-441	138	53	shareholders	shareholder	NOUN
gujaf-441	138	54	.	.	PUNCT
gujaf-441	139	1	asante	asante	PROPN
gujaf-441	139	2	et	et	PROPN
gujaf-441	139	3	al	al	PROPN
gujaf-441	139	4	.	.	PROPN
gujaf-441	139	5	(	(	PUNCT
gujaf-441	139	6	2023	2023	NUM
gujaf-441	139	7	)	)	PUNCT
gujaf-441	139	8	to	to	PART
gujaf-441	139	9	alleviate	alleviate	VERB
gujaf-441	139	10	financing	financing	NOUN
gujaf-441	139	11	constraints	constraint	NOUN
gujaf-441	139	12	for	for	ADP
gujaf-441	139	13	smes	sme	NOUN
gujaf-441	139	14	in	in	ADP
gujaf-441	139	15	ghana	ghana	PROPN
gujaf-441	139	16	,	,	PUNCT
gujaf-441	139	17	particularly	particularly	ADV
gujaf-441	139	18	for	for	ADP
gujaf-441	139	19	firms	firm	NOUN
gujaf-441	139	20	at	at	ADP
gujaf-441	139	21	lower	low	ADJ
gujaf-441	139	22	leverage	leverage	NOUN
gujaf-441	139	23	quantiles	quantile	NOUN
gujaf-441	139	24	that	that	SCONJ
gujaf-441	139	25	typically	typically	ADV
gujaf-441	139	26	face	face	VERB
gujaf-441	139	27	difficulties	difficulty	NOUN
gujaf-441	139	28	accessing	access	VERB
gujaf-441	139	29	bank	bank	NOUN
gujaf-441	139	30	credit	credit	NOUN
gujaf-441	139	31	.	.	PUNCT
gujaf-441	140	1	relatedly	relatedly	ADV
gujaf-441	140	2	,	,	PUNCT
gujaf-441	140	3	boatengetal.(2022)investigatedinstitutionalreformsinseveralafricancountries	boatengetal.(2022)investigatedinstitutionalreformsinseveralafricancountries	PROPN
gujaf-441	140	4	and	and	CCONJ
gujaf-441	140	5	concluded	conclude	VERB
gujaf-441	140	6	that	that	SCONJ
gujaf-441	140	7	stronger	strong	ADJ
gujaf-441	140	8	creditor	creditor	NOUN
gujaf-441	140	9	rights	right	NOUN
gujaf-441	140	10	and	and	CCONJ
gujaf-441	140	11	improvements	improvement	NOUN
gujaf-441	140	12	in	in	ADP
gujaf-441	140	13	credit	credit	NOUN
gujaf-441	140	14	information	information	NOUN
gujaf-441	140	15	systems	system	NOUN
gujaf-441	140	16	could	could	AUX
gujaf-441	140	17	enhance	enhance	VERB
gujaf-441	140	18	smes	sme	NOUN
gujaf-441	140	19	‘	'	PUNCT
gujaf-441	140	20	access	access	NOUN
gujaf-441	140	21	to	to	ADP
gujaf-441	140	22	debt	debt	NOUN
gujaf-441	140	23	financing	financing	NOUN
gujaf-441	140	24	,	,	PUNCT
gujaf-441	140	25	though	though	SCONJ
gujaf-441	140	26	these	these	DET
gujaf-441	140	27	benefits	benefit	NOUN
gujaf-441	140	28	tended	tend	VERB
gujaf-441	140	29	to	to	PART
gujaf-441	140	30	be	be	AUX
gujaf-441	140	31	more	more	ADV
gujaf-441	140	32	substantial	substantial	ADJ
gujaf-441	140	33	for	for	ADP
gujaf-441	140	34	firms	firm	NOUN
gujaf-441	140	35	with	with	ADP
gujaf-441	140	36	already	already	ADV
gujaf-441	140	37	moderate	moderate	ADJ
gujaf-441	140	38	or	or	CCONJ
gujaf-441	140	39	high	high	ADJ
gujaf-441	140	40	leverage	leverage	NOUN
gujaf-441	140	41	.	.	PUNCT
gujaf-441	141	1	in	in	ADP
gujaf-441	141	2	addition	addition	NOUN
gujaf-441	141	3	,	,	PUNCT
gujaf-441	141	4	environmental	environmental	ADJ
gujaf-441	141	5	and	and	CCONJ
gujaf-441	141	6	social	social	ADJ
gujaf-441	141	7	governance	governance	NOUN
gujaf-441	141	8	considerations	consideration	NOUN
gujaf-441	141	9	have	have	AUX
gujaf-441	141	10	started	start	VERB
gujaf-441	141	11	to	to	PART
gujaf-441	141	12	feature	feature	VERB
gujaf-441	141	13	in	in	ADP
gujaf-441	141	14	the	the	DET
gujaf-441	141	15	literature	literature	NOUN
gujaf-441	141	16	,	,	PUNCT
gujaf-441	141	17	as	as	SCONJ
gujaf-441	141	18	demonstrated	demonstrate	VERB
gujaf-441	141	19	by	by	ADP
gujaf-441	141	20	omisakin	omisakin	PROPN
gujaf-441	141	21	and	and	CCONJ
gujaf-441	141	22	adenuga	adenuga	ADJ
gujaf-441	141	23	(	(	PUNCT
gujaf-441	141	24	2024	2024	NUM
gujaf-441	141	25	)	)	PUNCT
gujaf-441	141	26	,	,	PUNCT
gujaf-441	141	27	who	who	PRON
gujaf-441	141	28	found	find	VERB
gujaf-441	141	29	that	that	SCONJ
gujaf-441	141	30	smes	sme	NOUN
gujaf-441	141	31	with	with	ADP
gujaf-441	141	32	formal	formal	ADJ
gujaf-441	141	33	esg	esg	NOUN
gujaf-441	141	34	policies	policy	NOUN
gujaf-441	141	35	were	be	AUX
gujaf-441	141	36	more	more	ADV
gujaf-441	141	37	likely	likely	ADJ
gujaf-441	141	38	to	to	PART
gujaf-441	141	39	secure	secure	VERB
gujaf-441	141	40	external	external	ADJ
gujaf-441	141	41	finance	finance	NOUN
gujaf-441	141	42	in	in	ADP
gujaf-441	141	43	nigeria	nigeria	PROPN
gujaf-441	141	44	,	,	PUNCT
gujaf-441	141	45	although	although	SCONJ
gujaf-441	141	46	the	the	DET
gujaf-441	141	47	effects	effect	NOUN
gujaf-441	141	48	were	be	AUX
gujaf-441	141	49	modest	modest	ADJ
gujaf-441	141	50	compared	compare	VERB
gujaf-441	141	51	to	to	ADP
gujaf-441	141	52	traditional	traditional	ADJ
gujaf-441	141	53	financial	financial	ADJ
gujaf-441	141	54	indicators	indicator	NOUN
gujaf-441	141	55	.	.	PUNCT
gujaf-441	142	1	ruiz	ruiz	NOUN
gujaf-441	142	2	and	and	CCONJ
gujaf-441	142	3	villalobos	villalobos	PROPN
gujaf-441	142	4	(	(	PUNCT
gujaf-441	142	5	2024	2024	NUM
gujaf-441	142	6	)	)	PUNCT
gujaf-441	142	7	highlighted	highlight	VERB
gujaf-441	142	8	that	that	SCONJ
gujaf-441	142	9	younger	young	ADJ
gujaf-441	142	10	firms	firm	NOUN
gujaf-441	142	11	faced	face	VERB
gujaf-441	142	12	steeper	steep	ADJ
gujaf-441	142	13	challenges	challenge	NOUN
gujaf-441	142	14	in	in	ADP
gujaf-441	142	15	accessingdebt	accessingdebt	NOUN
gujaf-441	142	16	,	,	PUNCT
gujaf-441	142	17	withmacroeconomicstabilityplayingalargerroleinfacilitatingfinancingfor	withmacroeconomicstabilityplayingalargerroleinfacilitatingfinancingfor	VERB
gujaf-441	142	18	mature	mature	ADJ
gujaf-441	142	19	smes	sme	NOUN
gujaf-441	142	20	in	in	ADP
gujaf-441	142	21	latin	latin	PROPN
gujaf-441	142	22	america	america	PROPN
gujaf-441	142	23	.	.	PUNCT
gujaf-441	143	1	this	this	PRON
gujaf-441	143	2	aligns	align	VERB
gujaf-441	143	3	with	with	ADP
gujaf-441	143	4	earlier	early	ADJ
gujaf-441	143	5	findings	finding	NOUN
gujaf-441	143	6	by	by	ADP
gujaf-441	143	7	mukherjee	mukherjee	PROPN
gujaf-441	143	8	et	et	PROPN
gujaf-441	143	9	al	al	PROPN
gujaf-441	143	10	.	.	PROPN
gujaf-441	144	1	(	(	PUNCT
gujaf-441	144	2	2019	2019	NUM
gujaf-441	144	3	)	)	PUNCT
gujaf-441	144	4	,	,	PUNCT
gujaf-441	144	5	who	who	PRON
gujaf-441	144	6	showed	show	VERB
gujaf-441	144	7	that	that	SCONJ
gujaf-441	144	8	the	the	DET
gujaf-441	144	9	effect	effect	NOUN
gujaf-441	144	10	of	of	ADP
gujaf-441	144	11	firm	firm	ADJ
gujaf-441	144	12	age	age	NOUN
gujaf-441	144	13	on	on	ADP
gujaf-441	144	14	leverage	leverage	NOUN
gujaf-441	144	15	could	could	AUX
gujaf-441	144	16	be	be	AUX
gujaf-441	144	17	moderated	moderate	VERB
gujaf-441	144	18	by	by	ADP
gujaf-441	144	19	institutional	institutional	ADJ
gujaf-441	144	20	quality	quality	NOUN
gujaf-441	144	21	and	and	CCONJ
gujaf-441	144	22	availability	availability	NOUN
gujaf-441	144	23	of	of	ADP
gujaf-441	144	24	alternative	alternative	ADJ
gujaf-441	144	25	finance	finance	NOUN
gujaf-441	144	26	.	.	PUNCT
gujaf-441	145	1	kebede	kebede	PROPN
gujaf-441	145	2	(	(	PUNCT
gujaf-441	145	3	2021	2021	NUM
gujaf-441	145	4	)	)	PUNCT
gujaf-441	145	5	demonstrated	demonstrate	VERB
gujaf-441	145	6	that	that	SCONJ
gujaf-441	145	7	during	during	ADP
gujaf-441	145	8	economic	economic	ADJ
gujaf-441	145	9	downturns	downturn	NOUN
gujaf-441	145	10	,	,	PUNCT
gujaf-441	145	11	the	the	DET
gujaf-441	145	12	relationship	relationship	NOUN
gujaf-441	145	13	between	between	ADP
gujaf-441	145	14	profitability	profitability	NOUN
gujaf-441	145	15	and	and	CCONJ
gujaf-441	145	16	leverage	leverage	NOUN
gujaf-441	145	17	weakened	weaken	VERB
gujaf-441	145	18	significantly	significantly	ADV
gujaf-441	145	19	for	for	ADP
gujaf-441	145	20	ethiopian	ethiopian	ADJ
gujaf-441	145	21	smes	sme	NOUN
gujaf-441	145	22	,	,	PUNCT
gujaf-441	145	23	as	as	SCONJ
gujaf-441	145	24	credit	credit	NOUN
gujaf-441	145	25	supply	supply	NOUN
gujaf-441	145	26	constraints	constraint	NOUN
gujaf-441	145	27	tightened	tighten	VERB
gujaf-441	145	28	across	across	ADP
gujaf-441	145	29	the	the	DET
gujaf-441	145	30	board	board	NOUN
gujaf-441	145	31	.	.	PUNCT
gujaf-441	146	1	hypotheses	hypothesis	NOUN
gujaf-441	146	2	development	development	VERB
gujaf-441	146	3	the	the	DET
gujaf-441	146	4	first	first	ADJ
gujaf-441	146	5	hypothesis	hypothesis	NOUN
gujaf-441	146	6	seeks	seek	VERB
gujaf-441	146	7	to	to	PART
gujaf-441	146	8	investigate	investigate	VERB
gujaf-441	146	9	the	the	DET
gujaf-441	146	10	extent	extent	NOUN
gujaf-441	146	11	to	to	PART
gujaf-441	146	12	which	which	PRON
gujaf-441	146	13	firm	firm	ADJ
gujaf-441	146	14	-	-	PUNCT
gujaf-441	146	15	specific	specific	ADJ
gujaf-441	146	16	characteristics	characteristic	NOUN
gujaf-441	146	17	such	such	ADJ
gujaf-441	146	18	asprofitability	asprofitability	NOUN
gujaf-441	146	19	,	,	PUNCT
gujaf-441	146	20	firmsize	firmsize	NOUN
gujaf-441	146	21	,	,	PUNCT
gujaf-441	146	22	assettangibility	assettangibility	NOUN
gujaf-441	146	23	,	,	PUNCT
gujaf-441	146	24	andgrowthopportunitiesmayinfluencethecapital	andgrowthopportunitiesmayinfluencethecapital	ADJ
gujaf-441	146	25	structure	structure	NOUN
gujaf-441	146	26	of	of	ADP
gujaf-441	146	27	smes	sme	NOUN
gujaf-441	146	28	across	across	ADP
gujaf-441	146	29	different	different	ADJ
gujaf-441	146	30	performance	performance	NOUN
gujaf-441	146	31	quantiles	quantile	NOUN
gujaf-441	146	32	.	.	PUNCT
gujaf-441	147	1	the	the	DET
gujaf-441	147	2	pecking	pecking	NOUN
gujaf-441	147	3	order	order	NOUN
gujaf-441	147	4	theory	theory	NOUN
gujaf-441	147	5	often	often	ADV
gujaf-441	147	6	suggeststhatprofitablesmescanpreferinternalfinancingoverexternaldebt	suggeststhatprofitablesmescanpreferinternalfinancingoverexternaldebt	VERB
gujaf-441	147	7	,	,	PUNCT
gujaf-441	147	8	especiallyat	especiallyat	ADJ
gujaf-441	147	9	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	147	10	,	,	PUNCT
gujaf-441	147	11	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	147	12	424	424	NUM
gujaf-441	147	13	higher	high	ADJ
gujaf-441	147	14	levels	level	NOUN
gujaf-441	147	15	of	of	ADP
gujaf-441	147	16	performance	performance	NOUN
gujaf-441	147	17	,	,	PUNCT
gujaf-441	147	18	where	where	SCONJ
gujaf-441	147	19	retained	retain	VERB
gujaf-441	147	20	earnings	earning	NOUN
gujaf-441	147	21	are	be	AUX
gujaf-441	147	22	more	more	ADV
gujaf-441	147	23	abundant	abundant	ADJ
gujaf-441	147	24	(	(	PUNCT
gujaf-441	147	25	myers	myer	NOUN
gujaf-441	147	26	&	&	CCONJ
gujaf-441	147	27	majluf	majluf	PROPN
gujaf-441	147	28	,	,	PUNCT
gujaf-441	147	29	1984	1984	NUM
gujaf-441	147	30	;	;	PUNCT
gujaf-441	147	31	nguyen	nguyen	PROPN
gujaf-441	147	32	&	&	CCONJ
gujaf-441	147	33	ramachandran	ramachandran	PROPN
gujaf-441	147	34	,	,	PUNCT
gujaf-441	147	35	2020	2020	NUM
gujaf-441	147	36	)	)	PUNCT
gujaf-441	147	37	.	.	PUNCT
gujaf-441	148	1	evidence	evidence	NOUN
gujaf-441	148	2	from	from	ADP
gujaf-441	148	3	developing	develop	VERB
gujaf-441	148	4	economies	economy	NOUN
gujaf-441	148	5	supports	support	VERB
gujaf-441	148	6	this	this	DET
gujaf-441	148	7	view	view	NOUN
gujaf-441	148	8	,	,	PUNCT
gujaf-441	148	9	as	as	SCONJ
gujaf-441	148	10	profitable	profitable	ADJ
gujaf-441	148	11	smes	sme	NOUN
gujaf-441	148	12	may	may	AUX
gujaf-441	148	13	reduce	reduce	VERB
gujaf-441	148	14	reliance	reliance	NOUN
gujaf-441	148	15	on	on	ADP
gujaf-441	148	16	debt	debt	NOUN
gujaf-441	148	17	financing	financing	NOUN
gujaf-441	148	18	at	at	ADP
gujaf-441	148	19	higher	high	ADJ
gujaf-441	148	20	quantiles	quantile	NOUN
gujaf-441	148	21	,	,	PUNCT
gujaf-441	148	22	reflecting	reflect	VERB
gujaf-441	148	23	both	both	CCONJ
gujaf-441	148	24	preference	preference	NOUN
gujaf-441	148	25	and	and	CCONJ
gujaf-441	148	26	capacity	capacity	NOUN
gujaf-441	148	27	to	to	ADP
gujaf-441	148	28	self	self	NOUN
gujaf-441	148	29	-	-	PUNCT
gujaf-441	148	30	fund	fund	NOUN
gujaf-441	148	31	(	(	PUNCT
gujaf-441	148	32	shah	shah	PROPN
gujaf-441	148	33	&	&	CCONJ
gujaf-441	148	34	khan	khan	PROPN
gujaf-441	148	35	,	,	PUNCT
gujaf-441	148	36	2022	2022	NUM
gujaf-441	148	37	;	;	PUNCT
gujaf-441	148	38	machokoto	machokoto	NOUN
gujaf-441	148	39	&	&	CCONJ
gujaf-441	148	40	areneke	areneke	ADJ
gujaf-441	148	41	,	,	PUNCT
gujaf-441	148	42	2021	2021	NUM
gujaf-441	148	43	)	)	PUNCT
gujaf-441	148	44	.	.	PUNCT
gujaf-441	149	1	moreover	moreover	ADV
gujaf-441	149	2	,	,	PUNCT
gujaf-441	149	3	firm	firm	ADJ
gujaf-441	149	4	size	size	NOUN
gujaf-441	149	5	is	be	AUX
gujaf-441	149	6	often	often	ADV
gujaf-441	149	7	found	find	VERB
gujaf-441	149	8	to	to	PART
gujaf-441	149	9	correlate	correlate	VERB
gujaf-441	149	10	positively	positively	ADV
gujaf-441	149	11	with	with	ADP
gujaf-441	149	12	leverage	leverage	NOUN
gujaf-441	149	13	,	,	PUNCT
gujaf-441	149	14	as	as	SCONJ
gujaf-441	149	15	larger	large	ADJ
gujaf-441	149	16	smes	sme	NOUN
gujaf-441	149	17	maybenefit	maybenefit	ADJ
gujaf-441	149	18	from	from	ADP
gujaf-441	149	19	greater	great	ADJ
gujaf-441	149	20	creditworthiness	creditworthiness	NOUN
gujaf-441	149	21	and	and	CCONJ
gujaf-441	149	22	collateral	collateral	PROPN
gujaf-441	149	23	availability(boateng	availability(boateng	PROPN
gujaf-441	149	24	et	et	PROPN
gujaf-441	149	25	al	al	PROPN
gujaf-441	149	26	.	.	PROPN
gujaf-441	149	27	,	,	PUNCT
gujaf-441	149	28	2022	2022	NUM
gujaf-441	149	29	)	)	PUNCT
gujaf-441	149	30	.	.	PUNCT
gujaf-441	150	1	the	the	DET
gujaf-441	150	2	quantile	quantile	ADJ
gujaf-441	150	3	perspective	perspective	NOUN
gujaf-441	150	4	allows	allow	VERB
gujaf-441	150	5	for	for	ADP
gujaf-441	150	6	an	an	DET
gujaf-441	150	7	assessment	assessment	NOUN
gujaf-441	150	8	of	of	ADP
gujaf-441	150	9	whether	whether	SCONJ
gujaf-441	150	10	this	this	DET
gujaf-441	150	11	relationship	relationship	NOUN
gujaf-441	150	12	is	be	AUX
gujaf-441	150	13	consistent	consistent	ADJ
gujaf-441	150	14	across	across	ADP
gujaf-441	150	15	performance	performance	NOUN
gujaf-441	150	16	levels	level	NOUN
gujaf-441	150	17	or	or	CCONJ
gujaf-441	150	18	more	more	ADV
gujaf-441	150	19	pronounced	pronounce	VERB
gujaf-441	150	20	among	among	ADP
gujaf-441	150	21	better	well	ADV
gujaf-441	150	22	-	-	PUNCT
gujaf-441	150	23	performing	perform	VERB
gujaf-441	150	24	smes	sme	NOUN
gujaf-441	150	25	.	.	PUNCT
gujaf-441	151	1	asset	asset	NOUN
gujaf-441	151	2	tangibility	tangibility	NOUN
gujaf-441	151	3	,	,	PUNCT
gujaf-441	151	4	as	as	SCONJ
gujaf-441	151	5	argued	argue	VERB
gujaf-441	151	6	by	by	ADP
gujaf-441	151	7	kebede	kebede	PROPN
gujaf-441	151	8	and	and	CCONJ
gujaf-441	151	9	kuar	kuar	NOUN
gujaf-441	151	10	(	(	PUNCT
gujaf-441	151	11	2021	2021	NUM
gujaf-441	151	12	)	)	PUNCT
gujaf-441	151	13	,	,	PUNCT
gujaf-441	151	14	may	may	AUX
gujaf-441	151	15	serve	serve	VERB
gujaf-441	151	16	as	as	ADP
gujaf-441	151	17	an	an	DET
gujaf-441	151	18	essential	essential	ADJ
gujaf-441	151	19	determinant	determinant	NOUN
gujaf-441	151	20	of	of	ADP
gujaf-441	151	21	capital	capital	NOUN
gujaf-441	151	22	structure	structure	NOUN
gujaf-441	151	23	,	,	PUNCT
gujaf-441	151	24	particularly	particularly	ADV
gujaf-441	151	25	in	in	ADP
gujaf-441	151	26	developing	develop	VERB
gujaf-441	151	27	economies	economy	NOUN
gujaf-441	151	28	where	where	SCONJ
gujaf-441	151	29	creditor	creditor	NOUN
gujaf-441	151	30	protections	protection	NOUN
gujaf-441	151	31	are	be	AUX
gujaf-441	151	32	weaker	weak	ADJ
gujaf-441	151	33	,	,	PUNCT
gujaf-441	151	34	and	and	CCONJ
gujaf-441	151	35	collateral	collateral	NOUN
gujaf-441	151	36	serves	serve	VERB
gujaf-441	151	37	as	as	ADP
gujaf-441	151	38	a	a	DET
gujaf-441	151	39	key	key	ADJ
gujaf-441	151	40	safeguard	safeguard	NOUN
gujaf-441	151	41	.	.	PUNCT
gujaf-441	152	1	the	the	DET
gujaf-441	152	2	relationship	relationship	NOUN
gujaf-441	152	3	between	between	ADP
gujaf-441	152	4	tangibility	tangibility	NOUN
gujaf-441	152	5	and	and	CCONJ
gujaf-441	152	6	leverage	leverage	NOUN
gujaf-441	152	7	may	may	AUX
gujaf-441	152	8	,	,	PUNCT
gujaf-441	152	9	however	however	ADV
gujaf-441	152	10	,	,	PUNCT
gujaf-441	152	11	differ	differ	VERB
gujaf-441	152	12	across	across	ADP
gujaf-441	152	13	performance	performance	NOUN
gujaf-441	152	14	quantiles	quantile	NOUN
gujaf-441	152	15	.	.	PUNCT
gujaf-441	153	1	for	for	ADP
gujaf-441	153	2	firms	firm	NOUN
gujaf-441	153	3	at	at	ADP
gujaf-441	153	4	the	the	DET
gujaf-441	153	5	lower	low	ADJ
gujaf-441	153	6	end	end	NOUN
gujaf-441	153	7	of	of	ADP
gujaf-441	153	8	the	the	DET
gujaf-441	153	9	performance	performance	NOUN
gujaf-441	153	10	distribution	distribution	NOUN
gujaf-441	153	11	,	,	PUNCT
gujaf-441	153	12	even	even	ADV
gujaf-441	153	13	tangible	tangible	ADJ
gujaf-441	153	14	assets	asset	NOUN
gujaf-441	153	15	may	may	AUX
gujaf-441	153	16	not	not	PART
gujaf-441	153	17	suffice	suffice	VERB
gujaf-441	153	18	to	to	PART
gujaf-441	153	19	overcome	overcome	VERB
gujaf-441	153	20	information	information	NOUN
gujaf-441	153	21	asymmetries	asymmetry	NOUN
gujaf-441	153	22	orpoorcredit	orpoorcredit	ADJ
gujaf-441	153	23	access	access	NOUN
gujaf-441	153	24	(	(	PUNCT
gujaf-441	153	25	karadag	karadag	NOUN
gujaf-441	153	26	,	,	PUNCT
gujaf-441	153	27	2020).growth	2020).growth	NUM
gujaf-441	153	28	opportunities	opportunity	NOUN
gujaf-441	153	29	,	,	PUNCT
gujaf-441	153	30	on	on	ADP
gujaf-441	153	31	the	the	DET
gujaf-441	153	32	otherhand	otherhand	PROPN
gujaf-441	153	33	,	,	PUNCT
gujaf-441	153	34	havebeenlinkedtolowerleveragein	havebeenlinkedtolowerleveragein	NOUN
gujaf-441	153	35	manyempiricalcontexts	manyempiricalcontexts	NOUN
gujaf-441	153	36	,	,	PUNCT
gujaf-441	153	37	asfirmswithhigh	asfirmswithhigh	ADJ
gujaf-441	153	38	growth	growth	NOUN
gujaf-441	153	39	potential	potential	NOUN
gujaf-441	153	40	might	might	AUX
gujaf-441	153	41	avoid	avoid	VERB
gujaf-441	153	42	debt	debt	NOUN
gujaf-441	153	43	to	to	PART
gujaf-441	153	44	preserve	preserve	VERB
gujaf-441	153	45	flexibility	flexibility	NOUN
gujaf-441	153	46	and	and	CCONJ
gujaf-441	153	47	reduce	reduce	VERB
gujaf-441	153	48	agency	agency	NOUN
gujaf-441	153	49	costs	cost	NOUN
gujaf-441	153	50	(	(	PUNCT
gujaf-441	153	51	asante	asante	PROPN
gujaf-441	153	52	et	et	PROPN
gujaf-441	153	53	al	al	PROPN
gujaf-441	153	54	.	.	PROPN
gujaf-441	153	55	,	,	PUNCT
gujaf-441	153	56	2023	2023	NUM
gujaf-441	153	57	;	;	PUNCT
gujaf-441	153	58	osei	osei	PROPN
gujaf-441	153	59	-	-	PUNCT
gujaf-441	153	60	assibey	assibey	PROPN
gujaf-441	153	61	&	&	CCONJ
gujaf-441	153	62	bokpin	bokpin	NOUN
gujaf-441	153	63	,	,	PUNCT
gujaf-441	153	64	2016	2016	NUM
gujaf-441	153	65	)	)	PUNCT
gujaf-441	153	66	.	.	PUNCT
gujaf-441	154	1	yet	yet	ADV
gujaf-441	154	2	,	,	PUNCT
gujaf-441	154	3	it	it	PRON
gujaf-441	154	4	is	be	AUX
gujaf-441	154	5	plausible	plausible	ADJ
gujaf-441	154	6	that	that	SCONJ
gujaf-441	154	7	the	the	DET
gujaf-441	154	8	influence	influence	NOUN
gujaf-441	154	9	of	of	ADP
gujaf-441	154	10	growth	growth	NOUN
gujaf-441	154	11	opportunities	opportunity	NOUN
gujaf-441	154	12	on	on	ADP
gujaf-441	154	13	capital	capital	NOUN
gujaf-441	154	14	structure	structure	NOUN
gujaf-441	154	15	is	be	AUX
gujaf-441	154	16	stronger	strong	ADJ
gujaf-441	154	17	among	among	ADP
gujaf-441	154	18	smes	sme	NOUN
gujaf-441	154	19	at	at	ADP
gujaf-441	154	20	the	the	DET
gujaf-441	154	21	upper	upper	ADJ
gujaf-441	154	22	quantiles	quantile	NOUN
gujaf-441	154	23	,	,	PUNCT
gujaf-441	154	24	where	where	SCONJ
gujaf-441	154	25	resource	resource	NOUN
gujaf-441	154	26	availability	availability	NOUN
gujaf-441	154	27	enables	enable	VERB
gujaf-441	154	28	more	more	ADJ
gujaf-441	154	29	strategic	strategic	ADJ
gujaf-441	154	30	financing	financing	NOUN
gujaf-441	154	31	decisions	decision	NOUN
gujaf-441	154	32	.	.	PUNCT
gujaf-441	155	1	therefore	therefore	ADV
gujaf-441	155	2	,	,	PUNCT
gujaf-441	155	3	this	this	DET
gujaf-441	155	4	study	study	NOUN
gujaf-441	155	5	hypothesizes	hypothesize	VERB
gujaf-441	155	6	that	that	SCONJ
gujaf-441	155	7	:	:	PUNCT
gujaf-441	155	8	the	the	DET
gujaf-441	155	9	effects	effect	NOUN
gujaf-441	155	10	of	of	ADP
gujaf-441	155	11	firm	firm	ADJ
gujaf-441	155	12	-	-	PUNCT
gujaf-441	155	13	specific	specific	ADJ
gujaf-441	155	14	determinants	determinant	NOUN
gujaf-441	155	15	on	on	ADP
gujaf-441	155	16	capital	capital	NOUN
gujaf-441	155	17	structure	structure	NOUN
gujaf-441	155	18	vary	vary	VERB
gujaf-441	155	19	significantly	significantly	ADV
gujaf-441	155	20	across	across	ADP
gujaf-441	155	21	sme	sme	NOUN
gujaf-441	155	22	performance	performance	NOUN
gujaf-441	155	23	quantiles	quantile	NOUN
gujaf-441	155	24	,	,	PUNCT
gujaf-441	155	25	reflecting	reflect	VERB
gujaf-441	155	26	heterogeneous	heterogeneous	ADJ
gujaf-441	155	27	financing	financing	NOUN
gujaf-441	155	28	constraints	constraint	NOUN
gujaf-441	155	29	and	and	CCONJ
gujaf-441	155	30	strategic	strategic	ADJ
gujaf-441	155	31	preferences	preference	NOUN
gujaf-441	155	32	.	.	PUNCT
gujaf-441	156	1	thesecond	thesecond	PROPN
gujaf-441	156	2	hypothesis	hypothesis	NOUN
gujaf-441	156	3	focuseson	focuseson	NOUN
gujaf-441	156	4	howmacroeconomic	howmacroeconomic	ADJ
gujaf-441	156	5	variables	variable	NOUN
gujaf-441	156	6	,	,	PUNCT
gujaf-441	156	7	includinginflation	includinginflation	NOUN
gujaf-441	156	8	,	,	PUNCT
gujaf-441	156	9	interest	interest	NOUN
gujaf-441	156	10	rates	rate	NOUN
gujaf-441	156	11	,	,	PUNCT
gujaf-441	156	12	and	and	CCONJ
gujaf-441	156	13	gdp	gdp	NOUN
gujaf-441	156	14	growth	growth	NOUN
gujaf-441	156	15	,	,	PUNCT
gujaf-441	156	16	may	may	AUX
gujaf-441	156	17	affect	affect	VERB
gujaf-441	156	18	sme	sme	NOUN
gujaf-441	156	19	capital	capital	NOUN
gujaf-441	156	20	structure	structure	NOUN
gujaf-441	156	21	differently	differently	ADV
gujaf-441	156	22	across	across	ADP
gujaf-441	156	23	performance	performance	NOUN
gujaf-441	156	24	quantiles	quantile	NOUN
gujaf-441	156	25	.	.	PUNCT
gujaf-441	157	1	existing	exist	VERB
gujaf-441	157	2	studies	study	NOUN
gujaf-441	157	3	suggest	suggest	VERB
gujaf-441	157	4	that	that	SCONJ
gujaf-441	157	5	high	high	ADJ
gujaf-441	157	6	inflation	inflation	NOUN
gujaf-441	157	7	environments	environment	NOUN
gujaf-441	157	8	can	can	AUX
gujaf-441	157	9	erode	erode	VERB
gujaf-441	157	10	the	the	DET
gujaf-441	157	11	real	real	ADJ
gujaf-441	157	12	valueof	valueof	NOUN
gujaf-441	157	13	debt	debt	NOUN
gujaf-441	157	14	,	,	PUNCT
gujaf-441	157	15	potentiallyencouraging	potentiallyencourage	VERB
gujaf-441	157	16	borrowing	borrowing	NOUN
gujaf-441	157	17	,	,	PUNCT
gujaf-441	157	18	but	but	CCONJ
gujaf-441	157	19	mayalso	mayalso	ADV
gujaf-441	157	20	reflect	reflect	VERB
gujaf-441	157	21	broader	broad	ADJ
gujaf-441	157	22	economic	economic	ADJ
gujaf-441	157	23	instability	instability	NOUN
gujaf-441	157	24	that	that	PRON
gujaf-441	157	25	deters	deter	VERB
gujaf-441	157	26	creditors	creditor	NOUN
gujaf-441	157	27	(	(	PUNCT
gujaf-441	157	28	ruiz	ruiz	NOUN
gujaf-441	157	29	&	&	CCONJ
gujaf-441	157	30	villalobos	villalobos	PROPN
gujaf-441	157	31	,	,	PUNCT
gujaf-441	157	32	2024	2024	NUM
gujaf-441	157	33	;	;	PUNCT
gujaf-441	157	34	mensah	mensah	PROPN
gujaf-441	157	35	et	et	PROPN
gujaf-441	157	36	al	al	PROPN
gujaf-441	157	37	.	.	PROPN
gujaf-441	157	38	,	,	PUNCT
gujaf-441	157	39	2024	2024	NUM
gujaf-441	157	40	)	)	PUNCT
gujaf-441	157	41	.	.	PUNCT
gujaf-441	158	1	this	this	DET
gujaf-441	158	2	ambivalence	ambivalence	NOUN
gujaf-441	158	3	maybe	maybe	ADV
gujaf-441	158	4	particularly	particularly	ADV
gujaf-441	158	5	salient	salient	NOUN
gujaf-441	158	6	for	for	ADP
gujaf-441	158	7	smes	sme	NOUN
gujaf-441	158	8	at	at	ADP
gujaf-441	158	9	the	the	DET
gujaf-441	158	10	lower	low	ADJ
gujaf-441	158	11	quantiles	quantile	NOUN
gujaf-441	158	12	,	,	PUNCT
gujaf-441	158	13	where	where	SCONJ
gujaf-441	158	14	firms	firm	NOUN
gujaf-441	158	15	face	face	VERB
gujaf-441	158	16	greater	great	ADJ
gujaf-441	158	17	credit	credit	NOUN
gujaf-441	158	18	rationing	ration	VERB
gujaf-441	158	19	under	under	ADP
gujaf-441	158	20	adverse	adverse	ADJ
gujaf-441	158	21	macroeconomic	macroeconomic	ADJ
gujaf-441	158	22	conditions	condition	NOUN
gujaf-441	158	23	(	(	PUNCT
gujaf-441	158	24	karadag	karadag	NOUN
gujaf-441	158	25	,	,	PUNCT
gujaf-441	158	26	2020	2020	NUM
gujaf-441	158	27	)	)	PUNCT
gujaf-441	158	28	.	.	PUNCT
gujaf-441	159	1	fluctuating	fluctuate	VERB
gujaf-441	159	2	interestrateshavebeenidentifiedasasignificantexternalfactorinfluencingsmeleveragedecisions	interestrateshavebeenidentifiedasasignificantexternalfactorinfluencingsmeleveragedecision	NOUN
gujaf-441	159	3	,	,	PUNCT
gujaf-441	159	4	with	with	ADP
gujaf-441	159	5	higher	high	ADJ
gujaf-441	159	6	rates	rate	NOUN
gujaf-441	159	7	generally	generally	ADV
gujaf-441	159	8	discouraging	discourage	VERB
gujaf-441	159	9	borrowing	borrowing	NOUN
gujaf-441	159	10	,	,	PUNCT
gujaf-441	159	11	particularly	particularly	ADV
gujaf-441	159	12	for	for	ADP
gujaf-441	159	13	more	more	ADV
gujaf-441	159	14	vulnerable	vulnerable	ADJ
gujaf-441	159	15	firms	firm	NOUN
gujaf-441	159	16	(	(	PUNCT
gujaf-441	159	17	shah	shah	PROPN
gujaf-441	159	18	&	&	CCONJ
gujaf-441	159	19	khan	khan	PROPN
gujaf-441	159	20	,	,	PUNCT
gujaf-441	159	21	2022	2022	NUM
gujaf-441	159	22	)	)	PUNCT
gujaf-441	159	23	.	.	PUNCT
gujaf-441	160	1	gdp	gdp	NOUN
gujaf-441	160	2	growth	growth	NOUN
gujaf-441	160	3	can	can	AUX
gujaf-441	160	4	serve	serve	VERB
gujaf-441	160	5	as	as	ADP
gujaf-441	160	6	a	a	DET
gujaf-441	160	7	proxy	proxy	NOUN
gujaf-441	160	8	for	for	ADP
gujaf-441	160	9	the	the	DET
gujaf-441	160	10	overall	overall	ADJ
gujaf-441	160	11	economic	economic	ADJ
gujaf-441	160	12	climate	climate	NOUN
gujaf-441	160	13	,	,	PUNCT
gujaf-441	160	14	with	with	ADP
gujaf-441	160	15	stronger	strong	ADJ
gujaf-441	160	16	growth	growth	NOUN
gujaf-441	160	17	generally	generally	ADV
gujaf-441	160	18	associated	associate	VERB
gujaf-441	160	19	with	with	ADP
gujaf-441	160	20	improved	improve	VERB
gujaf-441	160	21	credit	credit	NOUN
gujaf-441	160	22	market	market	NOUN
gujaf-441	160	23	conditions	condition	NOUN
gujaf-441	160	24	and	and	CCONJ
gujaf-441	160	25	greater	great	ADJ
gujaf-441	160	26	debt	debt	NOUN
gujaf-441	160	27	capacity	capacity	NOUN
gujaf-441	160	28	for	for	ADP
gujaf-441	160	29	smes	sme	NOUN
gujaf-441	160	30	(	(	PUNCT
gujaf-441	160	31	boateng	boateng	PROPN
gujaf-441	160	32	et	et	PROPN
gujaf-441	160	33	al	al	PROPN
gujaf-441	160	34	.	.	PROPN
gujaf-441	160	35	,	,	PUNCT
gujaf-441	160	36	2022	2022	NUM
gujaf-441	160	37	)	)	PUNCT
gujaf-441	160	38	.	.	PUNCT
gujaf-441	161	1	nonetheless	nonetheless	ADV
gujaf-441	161	2	,	,	PUNCT
gujaf-441	161	3	the	the	DET
gujaf-441	161	4	relationship	relationship	NOUN
gujaf-441	161	5	between	between	ADP
gujaf-441	161	6	gdp	gdp	NOUN
gujaf-441	161	7	growth	growth	NOUN
gujaf-441	161	8	andleverage	andleverage	NOUN
gujaf-441	161	9	may	may	AUX
gujaf-441	161	10	not	not	PART
gujaf-441	161	11	be	be	AUX
gujaf-441	161	12	uniform	uniform	ADJ
gujaf-441	161	13	across	across	ADP
gujaf-441	161	14	quantiles	quantile	NOUN
gujaf-441	161	15	.	.	PUNCT
gujaf-441	162	1	as	as	SCONJ
gujaf-441	162	2	nguyen	nguyen	NOUN
gujaf-441	162	3	and	and	CCONJ
gujaf-441	162	4	ramachandran	ramachandran	PROPN
gujaf-441	162	5	(	(	PUNCT
gujaf-441	162	6	2020	2020	NUM
gujaf-441	162	7	)	)	PUNCT
gujaf-441	162	8	argue	argue	PROPN
gujaf-441	162	9	,	,	PUNCT
gujaf-441	162	10	wellperforming	wellperforme	VERB
gujaf-441	162	11	smes	sme	NOUN
gujaf-441	162	12	might	might	AUX
gujaf-441	162	13	better	well	ADV
gujaf-441	162	14	capitalize	capitalize	VERB
gujaf-441	162	15	on	on	ADP
gujaf-441	162	16	growth	growth	NOUN
gujaf-441	162	17	opportunities	opportunity	NOUN
gujaf-441	162	18	during	during	ADP
gujaf-441	162	19	economic	economic	ADJ
gujaf-441	162	20	expansions	expansion	NOUN
gujaf-441	162	21	,	,	PUNCT
gujaf-441	162	22	whileweakerfirmscouldremaincreditconstrainedregardlessofmacroeconomic	whileweakerfirmscouldremaincreditconstrainedregardlessofmacroeconomic	ADJ
gujaf-441	162	23	improvements	improvement	NOUN
gujaf-441	162	24	.	.	PUNCT
gujaf-441	163	1	the	the	DET
gujaf-441	163	2	quantile	quantile	ADJ
gujaf-441	163	3	regression	regression	NOUN
gujaf-441	163	4	approach	approach	NOUN
gujaf-441	163	5	is	be	AUX
gujaf-441	163	6	therefore	therefore	ADV
gujaf-441	163	7	instrumental	instrumental	ADJ
gujaf-441	163	8	in	in	ADP
gujaf-441	163	9	testing	test	VERB
gujaf-441	163	10	whether	whether	SCONJ
gujaf-441	163	11	macroeconomic	macroeconomic	ADJ
gujaf-441	163	12	conditions	condition	NOUN
gujaf-441	163	13	exert	exert	VERB
gujaf-441	163	14	asymmetric	asymmetric	ADJ
gujaf-441	163	15	effects	effect	NOUN
gujaf-441	163	16	on	on	ADP
gujaf-441	163	17	sme	sme	ADJ
gujaf-441	163	18	capital	capital	NOUN
gujaf-441	163	19	structure	structure	NOUN
gujaf-441	163	20	across	across	ADP
gujaf-441	163	21	performance	performance	NOUN
gujaf-441	163	22	levels	level	NOUN
gujaf-441	163	23	,	,	PUNCT
gujaf-441	163	24	with	with	ADP
gujaf-441	163	25	more	more	ADJ
gujaf-441	163	26	pronounced	pronounced	ADJ
gujaf-441	163	27	constraints	constraint	NOUN
gujaf-441	163	28	and	and	CCONJ
gujaf-441	163	29	sensitivities	sensitivity	NOUN
gujaf-441	163	30	at	at	ADP
gujaf-441	163	31	lower	low	ADJ
gujaf-441	163	32	quantiles	quantile	NOUN
gujaf-441	163	33	.	.	PUNCT
gujaf-441	164	1	the	the	DET
gujaf-441	164	2	final	final	ADJ
gujaf-441	164	3	hypothesis	hypothesis	NOUN
gujaf-441	164	4	centers	center	NOUN
gujaf-441	164	5	on	on	ADP
gujaf-441	164	6	the	the	DET
gujaf-441	164	7	role	role	NOUN
gujaf-441	164	8	of	of	ADP
gujaf-441	164	9	institutional	institutional	ADJ
gujaf-441	164	10	quality	quality	NOUN
gujaf-441	164	11	in	in	ADP
gujaf-441	164	12	shaping	shape	VERB
gujaf-441	164	13	the	the	DET
gujaf-441	164	14	heterogeneous	heterogeneous	ADJ
gujaf-441	164	15	capital	capital	NOUN
gujaf-441	164	16	structure	structure	NOUN
gujaf-441	164	17	patterns	pattern	NOUN
gujaf-441	164	18	of	of	ADP
gujaf-441	164	19	smes	sme	NOUN
gujaf-441	164	20	across	across	ADP
gujaf-441	164	21	performance	performance	NOUN
gujaf-441	164	22	quantiles	quantile	NOUN
gujaf-441	164	23	.	.	PUNCT
gujaf-441	165	1	several	several	ADJ
gujaf-441	165	2	studies	study	NOUN
gujaf-441	165	3	argue	argue	VERB
gujaf-441	165	4	that	that	SCONJ
gujaf-441	165	5	strong	strong	ADJ
gujaf-441	165	6	institutions	institution	NOUN
gujaf-441	165	7	can	can	AUX
gujaf-441	165	8	enhance	enhance	VERB
gujaf-441	165	9	sme	sme	NOUN
gujaf-441	165	10	access	access	NOUN
gujaf-441	165	11	to	to	ADP
gujaf-441	165	12	external	external	ADJ
gujaf-441	165	13	finance	finance	NOUN
gujaf-441	165	14	,	,	PUNCT
gujaf-441	165	15	thereby	thereby	ADV
gujaf-441	165	16	influencing	influence	VERB
gujaf-441	165	17	leverage	leverage	NOUN
gujaf-441	165	18	decisions(onjewuetal	decisions(onjewuetal	PROPN
gujaf-441	165	19	.	.	PUNCT
gujaf-441	165	20	,2021;osei	,2021;osei	PROPN
gujaf-441	165	21	-	-	PUNCT
gujaf-441	165	22	assibey&bokpin,2016).thequantileframework	assibey&bokpin,2016).thequantileframework	NOUN
gujaf-441	165	23	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	165	24	,	,	PUNCT
gujaf-441	165	25	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	165	26	425	425	NUM
gujaf-441	165	27	allows	allow	VERB
gujaf-441	165	28	exploration	exploration	NOUN
gujaf-441	165	29	of	of	ADP
gujaf-441	165	30	whether	whether	SCONJ
gujaf-441	165	31	such	such	ADJ
gujaf-441	165	32	institutional	institutional	ADJ
gujaf-441	165	33	effects	effect	NOUN
gujaf-441	165	34	are	be	AUX
gujaf-441	165	35	stronger	strong	ADJ
gujaf-441	165	36	among	among	ADP
gujaf-441	165	37	smes	sme	NOUN
gujaf-441	165	38	with	with	ADP
gujaf-441	165	39	better	well	ADJ
gujaf-441	165	40	performance	performance	NOUN
gujaf-441	165	41	profiles	profile	NOUN
gujaf-441	165	42	,	,	PUNCT
gujaf-441	165	43	where	where	SCONJ
gujaf-441	165	44	firms	firm	NOUN
gujaf-441	165	45	are	be	AUX
gujaf-441	165	46	better	well	ADV
gujaf-441	165	47	positioned	position	VERB
gujaf-441	165	48	to	to	PART
gujaf-441	165	49	leverage	leverage	VERB
gujaf-441	165	50	institutional	institutional	ADJ
gujaf-441	165	51	strengths	strength	NOUN
gujaf-441	165	52	.	.	PUNCT
gujaf-441	166	1	conversely	conversely	ADV
gujaf-441	166	2	,	,	PUNCT
gujaf-441	166	3	in	in	ADP
gujaf-441	166	4	weak	weak	ADJ
gujaf-441	166	5	institutional	institutional	ADJ
gujaf-441	166	6	contexts	contexts	NOUN
gujaf-441	166	7	,	,	PUNCT
gujaf-441	166	8	even	even	ADV
gujaf-441	166	9	high	high	ADV
gujaf-441	166	10	-	-	PUNCT
gujaf-441	166	11	performing	perform	VERB
gujaf-441	166	12	smes	sme	NOUN
gujaf-441	166	13	may	may	AUX
gujaf-441	166	14	encounter	encounter	VERB
gujaf-441	166	15	financing	financing	NOUN
gujaf-441	166	16	constraints	constraint	NOUN
gujaf-441	166	17	due	due	ADJ
gujaf-441	166	18	to	to	ADP
gujaf-441	166	19	systemic	systemic	ADJ
gujaf-441	166	20	inefficiencies	inefficiency	NOUN
gujaf-441	166	21	(	(	PUNCT
gujaf-441	166	22	ruiz	ruiz	NOUN
gujaf-441	166	23	&	&	CCONJ
gujaf-441	166	24	villalobos	villalobos	PROPN
gujaf-441	166	25	,	,	PUNCT
gujaf-441	166	26	2024	2024	NUM
gujaf-441	166	27	)	)	PUNCT
gujaf-441	166	28	.	.	PUNCT
gujaf-441	167	1	the	the	DET
gujaf-441	167	2	interaction	interaction	NOUN
gujaf-441	167	3	between	between	ADP
gujaf-441	167	4	institutional	institutional	ADJ
gujaf-441	167	5	quality	quality	NOUN
gujaf-441	167	6	and	and	CCONJ
gujaf-441	167	7	macroeconomic	macroeconomic	ADJ
gujaf-441	167	8	factors	factor	NOUN
gujaf-441	167	9	may	may	AUX
gujaf-441	167	10	condition	condition	VERB
gujaf-441	167	11	capital	capital	NOUN
gujaf-441	167	12	structure	structure	NOUN
gujaf-441	167	13	decisions	decision	NOUN
gujaf-441	167	14	.	.	PUNCT
gujaf-441	168	1	for	for	ADP
gujaf-441	168	2	instance	instance	NOUN
gujaf-441	168	3	,	,	PUNCT
gujaf-441	168	4	in	in	ADP
gujaf-441	168	5	environments	environment	NOUN
gujaf-441	168	6	where	where	SCONJ
gujaf-441	168	7	property	property	NOUN
gujaf-441	168	8	rights	right	NOUN
gujaf-441	168	9	are	be	AUX
gujaf-441	168	10	well	well	ADV
gujaf-441	168	11	enforced	enforce	VERB
gujaf-441	168	12	,	,	PUNCT
gujaf-441	168	13	firms	firm	NOUN
gujaf-441	168	14	may	may	AUX
gujaf-441	168	15	be	be	AUX
gujaf-441	168	16	more	more	ADV
gujaf-441	168	17	inclined	inclined	ADJ
gujaf-441	168	18	to	to	PART
gujaf-441	168	19	use	use	VERB
gujaf-441	168	20	debt	debt	NOUN
gujaf-441	168	21	,	,	PUNCT
gujaf-441	168	22	even	even	ADV
gujaf-441	168	23	under	under	ADP
gujaf-441	168	24	adverse	adverse	ADJ
gujaf-441	168	25	macroeconomic	macroeconomic	ADJ
gujaf-441	168	26	conditions	condition	NOUN
gujaf-441	168	27	(	(	PUNCT
gujaf-441	168	28	machokoto	machokoto	NOUN
gujaf-441	168	29	&	&	CCONJ
gujaf-441	168	30	areneke	areneke	ADJ
gujaf-441	168	31	,	,	PUNCT
gujaf-441	168	32	2021	2021	NUM
gujaf-441	168	33	)	)	PUNCT
gujaf-441	168	34	.	.	PUNCT
gujaf-441	169	1	conversely	conversely	ADV
gujaf-441	169	2	,	,	PUNCT
gujaf-441	169	3	weak	weak	ADJ
gujaf-441	169	4	institutions	institution	NOUN
gujaf-441	169	5	can	can	AUX
gujaf-441	169	6	exacerbate	exacerbate	VERB
gujaf-441	169	7	the	the	DET
gujaf-441	169	8	effects	effect	NOUN
gujaf-441	169	9	of	of	ADP
gujaf-441	169	10	inflation	inflation	NOUN
gujaf-441	169	11	or	or	CCONJ
gujaf-441	169	12	interest	interest	NOUN
gujaf-441	169	13	rate	rate	NOUN
gujaf-441	169	14	volatility	volatility	NOUN
gujaf-441	169	15	on	on	ADP
gujaf-441	169	16	sme	sme	ADJ
gujaf-441	169	17	financing	financing	NOUN
gujaf-441	169	18	decisions	decision	NOUN
gujaf-441	169	19	,	,	PUNCT
gujaf-441	169	20	particularly	particularly	ADV
gujaf-441	169	21	forfirms	forfirm	NOUN
gujaf-441	169	22	operating	operate	VERB
gujaf-441	169	23	at	at	ADP
gujaf-441	169	24	lower	low	ADJ
gujaf-441	169	25	quantiles	quantile	NOUN
gujaf-441	169	26	of	of	ADP
gujaf-441	169	27	performance	performance	NOUN
gujaf-441	169	28	(	(	PUNCT
gujaf-441	169	29	asante	asante	PROPN
gujaf-441	169	30	et	et	PROPN
gujaf-441	169	31	al	al	PROPN
gujaf-441	169	32	.	.	PROPN
gujaf-441	169	33	,	,	PUNCT
gujaf-441	169	34	2023	2023	NUM
gujaf-441	169	35	;	;	PUNCT
gujaf-441	169	36	boateng	boateng	PROPN
gujaf-441	169	37	et	et	PROPN
gujaf-441	169	38	al	al	PROPN
gujaf-441	169	39	.	.	PROPN
gujaf-441	169	40	,	,	PUNCT
gujaf-441	169	41	2022	2022	NUM
gujaf-441	169	42	)	)	PUNCT
gujaf-441	169	43	.	.	PUNCT
gujaf-441	170	1	therefore	therefore	ADV
gujaf-441	170	2	,	,	PUNCT
gujaf-441	170	3	this	this	DET
gujaf-441	170	4	study	study	NOUN
gujaf-441	170	5	hypothesizes	hypothesize	VERB
gujaf-441	170	6	that	that	SCONJ
gujaf-441	170	7	:	:	PUNCT
gujaf-441	170	8	institutional	institutional	ADJ
gujaf-441	170	9	quality	quality	NOUN
gujaf-441	170	10	moderates	moderate	VERB
gujaf-441	170	11	the	the	DET
gujaf-441	170	12	relationship	relationship	NOUN
gujaf-441	170	13	between	between	ADP
gujaf-441	170	14	firm	firm	ADJ
gujaf-441	170	15	-	-	PUNCT
gujaf-441	170	16	specific	specific	ADJ
gujaf-441	170	17	and	and	CCONJ
gujaf-441	170	18	macroeconomic	macroeconomic	ADJ
gujaf-441	170	19	factors	factor	NOUN
gujaf-441	170	20	and	and	CCONJ
gujaf-441	170	21	capital	capital	NOUN
gujaf-441	170	22	structure	structure	NOUN
gujaf-441	170	23	,	,	PUNCT
gujaf-441	170	24	with	with	ADP
gujaf-441	170	25	more	more	ADJ
gujaf-441	170	26	pronounced	pronounced	ADJ
gujaf-441	170	27	effects	effect	NOUN
gujaf-441	170	28	among	among	ADP
gujaf-441	170	29	smes	sme	NOUN
gujaf-441	170	30	at	at	ADP
gujaf-441	170	31	higher	high	ADJ
gujaf-441	170	32	performance	performance	NOUN
gujaf-441	170	33	quantiles	quantile	NOUN
gujaf-441	170	34	in	in	ADP
gujaf-441	170	35	developing	develop	VERB
gujaf-441	170	36	countries	country	NOUN
gujaf-441	170	37	.	.	PUNCT
gujaf-441	171	1	3.0	3.0	NUM
gujaf-441	171	2	methodology	methodology	NOUN
gujaf-441	171	3	thecapitalstructureofsmesindevelopingcountrieshasoftenbeenanalysedthroughthelensof	thecapitalstructureofsmesindevelopingcountrieshasoftenbeenanalysedthroughthelensof	VERB
gujaf-441	171	4	classical	classical	ADJ
gujaf-441	171	5	theories	theory	NOUN
gujaf-441	171	6	,	,	PUNCT
gujaf-441	171	7	including	include	VERB
gujaf-441	171	8	the	the	DET
gujaf-441	171	9	trade	trade	NOUN
gujaf-441	171	10	-	-	PUNCT
gujaf-441	171	11	off	off	ADP
gujaf-441	171	12	theory	theory	NOUN
gujaf-441	171	13	,	,	PUNCT
gujaf-441	171	14	the	the	DET
gujaf-441	171	15	pecking	pecking	NOUN
gujaf-441	171	16	order	order	NOUN
gujaf-441	171	17	theory	theory	NOUN
gujaf-441	171	18	,	,	PUNCT
gujaf-441	171	19	and	and	CCONJ
gujaf-441	171	20	the	the	DET
gujaf-441	171	21	agencytheory	agencytheory	NOUN
gujaf-441	171	22	,	,	PUNCT
gujaf-441	171	23	each	each	PRON
gujaf-441	171	24	offering	offer	VERB
gujaf-441	171	25	nuanced	nuanced	ADJ
gujaf-441	171	26	insights	insight	NOUN
gujaf-441	171	27	into	into	ADP
gujaf-441	171	28	leverage	leverage	NOUN
gujaf-441	171	29	decisions	decision	NOUN
gujaf-441	171	30	across	across	ADP
gujaf-441	171	31	different	different	ADJ
gujaf-441	171	32	performance	performance	NOUN
gujaf-441	171	33	quantiles.the	quantiles.the	DET
gujaf-441	171	34	trade	trade	NOUN
gujaf-441	171	35	-	-	PUNCT
gujaf-441	171	36	off	off	ADP
gujaf-441	171	37	theory	theory	NOUN
gujaf-441	171	38	posits	posit	NOUN
gujaf-441	171	39	that	that	SCONJ
gujaf-441	171	40	firms	firm	NOUN
gujaf-441	171	41	balance	balance	VERB
gujaf-441	171	42	the	the	DET
gujaf-441	171	43	tax	tax	NOUN
gujaf-441	171	44	advantages	advantage	NOUN
gujaf-441	171	45	of	of	ADP
gujaf-441	171	46	debt	debt	NOUN
gujaf-441	171	47	against	against	ADP
gujaf-441	171	48	the	the	DET
gujaf-441	171	49	costs	cost	NOUN
gujaf-441	171	50	of	of	ADP
gujaf-441	171	51	financial	financial	ADJ
gujaf-441	171	52	distress	distress	NOUN
gujaf-441	171	53	,	,	PUNCT
gujaf-441	171	54	which	which	PRON
gujaf-441	171	55	can	can	AUX
gujaf-441	171	56	be	be	AUX
gujaf-441	171	57	formalised	formalise	VERB
gujaf-441	171	58	as	as	ADP
gujaf-441	171	59	the	the	DET
gujaf-441	171	60	optimisation	optimisation	NOUN
gujaf-441	171	61	of	of	ADP
gujaf-441	171	62	a	a	DET
gujaf-441	171	63	value	value	NOUN
gujaf-441	171	64	function	function	NOUN
gujaf-441	171	65	𝑉(𝐿	𝑉(𝐿	NOUN
gujaf-441	171	66	)	)	PUNCT
gujaf-441	171	67	where	where	SCONJ
gujaf-441	171	68	𝐿represents	𝐿represent	VERB
gujaf-441	171	69	the	the	DET
gujaf-441	171	70	leverage	leverage	NOUN
gujaf-441	171	71	ratio	ratio	NOUN
gujaf-441	171	72	.	.	PUNCT
gujaf-441	172	1	this	this	PRON
gujaf-441	172	2	can	can	AUX
gujaf-441	172	3	be	be	AUX
gujaf-441	172	4	expressed	express	VERB
gujaf-441	172	5	as	as	ADP
gujaf-441	172	6	:	:	PUNCT
gujaf-441	172	7	max𝑉(𝐿)=𝑉𝑈+𝑇𝑐𝐿	max𝑉(𝐿)=𝑉𝑈+𝑇𝑐𝐿	X
gujaf-441	172	8	−	−	PROPN
gujaf-441	172	9	φ(𝐿	φ(𝐿	PROPN
gujaf-441	172	10	)	)	PUNCT
gujaf-441	172	11	(	(	PUNCT
gujaf-441	172	12	1	1	X
gujaf-441	172	13	)	)	PUNCT
gujaf-441	172	14	𝐿	𝐿	NOUN
gujaf-441	172	15	where	where	SCONJ
gujaf-441	172	16	𝑉𝑈is	𝑉𝑈is	PROPN
gujaf-441	172	17	the	the	DET
gujaf-441	172	18	unlevered	unlevered	ADJ
gujaf-441	172	19	firm	firm	ADJ
gujaf-441	172	20	value	value	NOUN
gujaf-441	172	21	,	,	PUNCT
gujaf-441	172	22	𝑇𝑐is	𝑇𝑐is	PROPN
gujaf-441	172	23	the	the	DET
gujaf-441	172	24	corporate	corporate	ADJ
gujaf-441	172	25	tax	tax	NOUN
gujaf-441	172	26	rate	rate	NOUN
gujaf-441	172	27	,	,	PUNCT
gujaf-441	172	28	and	and	CCONJ
gujaf-441	172	29	φ(𝐿	φ(𝐿	NUM
gujaf-441	172	30	)	)	PUNCT
gujaf-441	172	31	denotes	denote	VERB
gujaf-441	172	32	the	the	DET
gujaf-441	172	33	expected	expect	VERB
gujaf-441	172	34	cost	cost	NOUN
gujaf-441	172	35	of	of	ADP
gujaf-441	172	36	financial	financial	ADJ
gujaf-441	172	37	distress	distress	NOUN
gujaf-441	172	38	as	as	ADP
gujaf-441	172	39	a	a	DET
gujaf-441	172	40	function	function	NOUN
gujaf-441	172	41	of	of	ADP
gujaf-441	172	42	leverage	leverage	NOUN
gujaf-441	172	43	.	.	PUNCT
gujaf-441	173	1	in	in	ADP
gujaf-441	173	2	the	the	DET
gujaf-441	173	3	context	context	NOUN
gujaf-441	173	4	of	of	ADP
gujaf-441	173	5	smes	sme	NOUN
gujaf-441	173	6	in	in	ADP
gujaf-441	173	7	developingeconomies	developingeconomie	NOUN
gujaf-441	173	8	,	,	PUNCT
gujaf-441	173	9	empiricalfindingssuggest	empiricalfindingssuggest	PROPN
gujaf-441	173	10	thatthedistresscostfunction	thatthedistresscostfunction	PROPN
gujaf-441	173	11	φ(𝐿	φ(𝐿	PROPN
gujaf-441	173	12	)	)	PUNCT
gujaf-441	173	13	maybe	maybe	ADV
gujaf-441	173	14	nonlinear	nonlinear	ADJ
gujaf-441	173	15	and	and	CCONJ
gujaf-441	173	16	steeper	steep	ADJ
gujaf-441	173	17	at	at	ADP
gujaf-441	173	18	higher	high	ADJ
gujaf-441	173	19	quantiles	quantile	NOUN
gujaf-441	173	20	of	of	ADP
gujaf-441	173	21	performance	performance	NOUN
gujaf-441	173	22	,	,	PUNCT
gujaf-441	173	23	where	where	SCONJ
gujaf-441	173	24	firms	firm	NOUN
gujaf-441	173	25	face	face	VERB
gujaf-441	173	26	more	more	ADJ
gujaf-441	173	27	complex	complex	ADJ
gujaf-441	173	28	capital	capital	NOUN
gujaf-441	173	29	requirements	requirement	NOUN
gujaf-441	173	30	(	(	PUNCT
gujaf-441	173	31	boateng	boateng	PROPN
gujaf-441	173	32	et	et	PROPN
gujaf-441	173	33	al	al	PROPN
gujaf-441	173	34	.	.	PROPN
gujaf-441	173	35	,	,	PUNCT
gujaf-441	173	36	2022	2022	NUM
gujaf-441	173	37	;	;	PUNCT
gujaf-441	173	38	machokoto	machokoto	NOUN
gujaf-441	173	39	&	&	CCONJ
gujaf-441	173	40	areneke	areneke	ADJ
gujaf-441	173	41	,	,	PUNCT
gujaf-441	173	42	2021	2021	NUM
gujaf-441	173	43	)	)	PUNCT
gujaf-441	173	44	.	.	PUNCT
gujaf-441	174	1	the	the	DET
gujaf-441	174	2	pecking	pecking	NOUN
gujaf-441	174	3	order	order	NOUN
gujaf-441	174	4	theory	theory	NOUN
gujaf-441	174	5	argues	argue	VERB
gujaf-441	174	6	that	that	SCONJ
gujaf-441	174	7	information	information	NOUN
gujaf-441	174	8	asymmetry	asymmetry	NOUN
gujaf-441	174	9	drives	drive	VERB
gujaf-441	174	10	firms	firm	NOUN
gujaf-441	174	11	to	to	PART
gujaf-441	174	12	prefer	prefer	VERB
gujaf-441	174	13	internal	internal	ADJ
gujaf-441	174	14	funds	fund	NOUN
gujaf-441	174	15	over	over	ADP
gujaf-441	174	16	debt	debt	NOUN
gujaf-441	174	17	and	and	CCONJ
gujaf-441	174	18	external	external	ADJ
gujaf-441	174	19	equity	equity	NOUN
gujaf-441	174	20	.	.	PUNCT
gujaf-441	175	1	this	this	DET
gujaf-441	175	2	preference	preference	NOUN
gujaf-441	175	3	hierarchy	hierarchy	NOUN
gujaf-441	175	4	can	can	AUX
gujaf-441	175	5	be	be	AUX
gujaf-441	175	6	described	describe	VERB
gujaf-441	175	7	by	by	ADP
gujaf-441	175	8	the	the	DET
gujaf-441	175	9	financing	financing	NOUN
gujaf-441	175	10	gap	gap	NOUN
gujaf-441	175	11	equation	equation	NOUN
gujaf-441	175	12	:	:	PUNCT
gujaf-441	175	13	∆𝐷𝑡=𝐼𝑡−𝐶𝐹𝑡	∆𝐷𝑡=𝐼𝑡−𝐶𝐹𝑡	PROPN
gujaf-441	175	14	(	(	PUNCT
gujaf-441	175	15	2	2	NUM
gujaf-441	175	16	)	)	PUNCT
gujaf-441	175	17	where∆𝐷𝑡isthechangein	where∆𝐷𝑡isthechangein	NOUN
gujaf-441	175	18	debtattime	debtattime	NOUN
gujaf-441	175	19	𝑡,𝐼𝑡represents	𝑡,𝐼𝑡represent	NOUN
gujaf-441	175	20	investmentneeds	investmentneed	VERB
gujaf-441	175	21	,	,	PUNCT
gujaf-441	175	22	and	and	CCONJ
gujaf-441	175	23	𝐶𝐹𝑡is	𝐶𝐹𝑡is	PROPN
gujaf-441	175	24	internal	internal	ADJ
gujaf-441	175	25	cash	cash	NOUN
gujaf-441	175	26	flow	flow	NOUN
gujaf-441	175	27	(	(	PUNCT
gujaf-441	175	28	myers	myers	PROPN
gujaf-441	175	29	&	&	CCONJ
gujaf-441	175	30	majluf	majluf	PROPN
gujaf-441	175	31	,	,	PUNCT
gujaf-441	175	32	1984	1984	NUM
gujaf-441	175	33	)	)	PUNCT
gujaf-441	175	34	.	.	PUNCT
gujaf-441	176	1	in	in	ADP
gujaf-441	176	2	developing	develop	VERB
gujaf-441	176	3	countries	country	NOUN
gujaf-441	176	4	,	,	PUNCT
gujaf-441	176	5	where	where	SCONJ
gujaf-441	176	6	information	information	NOUN
gujaf-441	176	7	asymmetries	asymmetry	NOUN
gujaf-441	176	8	and	and	CCONJ
gujaf-441	176	9	market	market	NOUN
gujaf-441	176	10	imperfections	imperfection	NOUN
gujaf-441	176	11	are	be	AUX
gujaf-441	176	12	pronounced	pronounce	VERB
gujaf-441	176	13	,	,	PUNCT
gujaf-441	176	14	the	the	DET
gujaf-441	176	15	gap	gap	NOUN
gujaf-441	176	16	between	between	ADP
gujaf-441	176	17	𝐼𝑡and	𝐼𝑡and	PROPN
gujaf-441	177	1	𝐶𝐹𝑡may	𝐶𝐹𝑡may	PROPN
gujaf-441	177	2	be	be	VERB
gujaf-441	177	3	wider	wide	ADJ
gujaf-441	177	4	for	for	ADP
gujaf-441	177	5	smes	sme	NOUN
gujaf-441	177	6	at	at	ADP
gujaf-441	177	7	lower	low	ADJ
gujaf-441	177	8	quantiles	quantile	NOUN
gujaf-441	177	9	of	of	ADP
gujaf-441	177	10	performance	performance	NOUN
gujaf-441	177	11	,	,	PUNCT
gujaf-441	177	12	potentially	potentially	ADV
gujaf-441	177	13	resulting	result	VERB
gujaf-441	177	14	in	in	ADP
gujaf-441	177	15	greater	great	ADJ
gujaf-441	177	16	leverage	leverage	NOUN
gujaf-441	177	17	reliance	reliance	NOUN
gujaf-441	177	18	or	or	CCONJ
gujaf-441	177	19	underinvestment	underinvestment	ADJ
gujaf-441	177	20	(	(	PUNCT
gujaf-441	177	21	nguyen	nguyen	PROPN
gujaf-441	177	22	&	&	CCONJ
gujaf-441	177	23	ramachandran	ramachandran	PROPN
gujaf-441	177	24	,	,	PUNCT
gujaf-441	177	25	2020	2020	NUM
gujaf-441	177	26	;	;	PUNCT
gujaf-441	177	27	shah	shah	PROPN
gujaf-441	177	28	&	&	CCONJ
gujaf-441	177	29	khan	khan	PROPN
gujaf-441	177	30	,	,	PUNCT
gujaf-441	177	31	2022	2022	NUM
gujaf-441	177	32	)	)	PUNCT
gujaf-441	177	33	.	.	PUNCT
gujaf-441	178	1	agency	agency	NOUN
gujaf-441	178	2	theory	theory	NOUN
gujaf-441	178	3	further	far	ADV
gujaf-441	178	4	contributes	contribute	VERB
gujaf-441	178	5	to	to	ADP
gujaf-441	178	6	the	the	DET
gujaf-441	178	7	capital	capital	NOUN
gujaf-441	178	8	structure	structure	NOUN
gujaf-441	178	9	debate	debate	NOUN
gujaf-441	178	10	by	by	ADP
gujaf-441	178	11	highlighting	highlight	VERB
gujaf-441	178	12	conflictsbetween	conflictsbetween	NOUN
gujaf-441	178	13	managers	manager	NOUN
gujaf-441	178	14	and	and	CCONJ
gujaf-441	178	15	debt	debt	NOUN
gujaf-441	178	16	or	or	CCONJ
gujaf-441	178	17	equity	equity	NOUN
gujaf-441	178	18	holders	holder	NOUN
gujaf-441	178	19	,	,	PUNCT
gujaf-441	178	20	which	which	PRON
gujaf-441	178	21	can	can	AUX
gujaf-441	178	22	influence	influence	VERB
gujaf-441	178	23	financing	financing	NOUN
gujaf-441	178	24	decisions	decision	NOUN
gujaf-441	178	25	.	.	PUNCT
gujaf-441	179	1	the	the	DET
gujaf-441	179	2	cost	cost	NOUN
gujaf-441	179	3	associated	associate	VERB
gujaf-441	179	4	with	with	ADP
gujaf-441	179	5	agency	agency	NOUN
gujaf-441	179	6	problems	problem	NOUN
gujaf-441	179	7	of	of	ADP
gujaf-441	179	8	debt	debt	NOUN
gujaf-441	179	9	can	can	AUX
gujaf-441	179	10	be	be	AUX
gujaf-441	179	11	expressed	express	VERB
gujaf-441	179	12	as	as	ADP
gujaf-441	179	13	:	:	PUNCT
gujaf-441	179	14	𝐶𝐴=𝛼𝐿2	𝐶𝐴=𝛼𝐿2	NOUN
gujaf-441	179	15	(	(	PUNCT
gujaf-441	179	16	3	3	NUM
gujaf-441	179	17	)	)	PUNCT
gujaf-441	179	18	where𝐶𝐴representstheagencycostofdebt	where𝐶𝐴representstheagencycostofdebt	PROPN
gujaf-441	179	19	,	,	PUNCT
gujaf-441	179	20	𝐿isleverage	𝐿isleverage	PROPN
gujaf-441	179	21	,	,	PUNCT
gujaf-441	179	22	and	and	CCONJ
gujaf-441	179	23	𝛼isaparameterreflectingthe	𝛼isaparameterreflectingthe	PRON
gujaf-441	179	24	severity	severity	NOUN
gujaf-441	179	25	of	of	ADP
gujaf-441	179	26	agency	agency	NOUN
gujaf-441	179	27	conflicts	conflict	NOUN
gujaf-441	179	28	(	(	PUNCT
gujaf-441	179	29	onjewu	onjewu	PROPN
gujaf-441	179	30	et	et	PROPN
gujaf-441	179	31	al	al	PROPN
gujaf-441	179	32	.	.	PROPN
gujaf-441	179	33	,	,	PUNCT
gujaf-441	179	34	2021	2021	NUM
gujaf-441	179	35	)	)	PUNCT
gujaf-441	179	36	.	.	PUNCT
gujaf-441	180	1	smes	sme	NOUN
gujaf-441	180	2	with	with	ADP
gujaf-441	180	3	weak	weak	ADJ
gujaf-441	180	4	governance	governance	NOUN
gujaf-441	180	5	structures	structure	NOUN
gujaf-441	180	6	,	,	PUNCT
gujaf-441	180	7	commonin	commonin	NOUN
gujaf-441	180	8	developingeconomies	developingeconomie	NOUN
gujaf-441	180	9	,	,	PUNCT
gujaf-441	180	10	mayfacehigher𝛼values	mayfacehigher𝛼value	NOUN
gujaf-441	180	11	,	,	PUNCT
gujaf-441	180	12	athigher	athigher	PROPN
gujaf-441	180	13	performancequantiles	performancequantile	NOUN
gujaf-441	180	14	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	180	15	,	,	PUNCT
gujaf-441	180	16	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	180	17	426	426	NUM
gujaf-441	180	18	where	where	SCONJ
gujaf-441	180	19	leverage	leverage	NOUN
gujaf-441	180	20	levels	level	NOUN
gujaf-441	180	21	increase	increase	VERB
gujaf-441	180	22	and	and	CCONJ
gujaf-441	180	23	agency	agency	NOUN
gujaf-441	180	24	conflicts	conflict	NOUN
gujaf-441	180	25	may	may	AUX
gujaf-441	180	26	become	become	VERB
gujaf-441	180	27	more	more	ADJ
gujaf-441	180	28	salient	salient	NOUN
gujaf-441	180	29	(	(	PUNCT
gujaf-441	180	30	asante	asante	PROPN
gujaf-441	180	31	et	et	PROPN
gujaf-441	180	32	al	al	PROPN
gujaf-441	180	33	.	.	PROPN
gujaf-441	180	34	,	,	PUNCT
gujaf-441	180	35	2023	2023	NUM
gujaf-441	180	36	)	)	PUNCT
gujaf-441	180	37	.	.	PUNCT
gujaf-441	181	1	institutional	institutional	ADJ
gujaf-441	181	2	theory	theory	NOUN
gujaf-441	181	3	suggests	suggest	VERB
gujaf-441	181	4	that	that	SCONJ
gujaf-441	181	5	the	the	DET
gujaf-441	181	6	broader	broad	ADJ
gujaf-441	181	7	environment	environment	NOUN
gujaf-441	181	8	,	,	PUNCT
gujaf-441	181	9	such	such	ADJ
gujaf-441	181	10	as	as	ADP
gujaf-441	181	11	legal	legal	ADJ
gujaf-441	181	12	frameworks	framework	NOUN
gujaf-441	181	13	,	,	PUNCT
gujaf-441	181	14	property	property	NOUN
gujaf-441	181	15	rights	right	NOUN
gujaf-441	181	16	,	,	PUNCT
gujaf-441	181	17	and	and	CCONJ
gujaf-441	181	18	financial	financial	ADJ
gujaf-441	181	19	market	market	NOUN
gujaf-441	181	20	development	development	NOUN
gujaf-441	181	21	,	,	PUNCT
gujaf-441	181	22	shapes	shape	VERB
gujaf-441	181	23	capital	capital	NOUN
gujaf-441	181	24	structure	structure	NOUN
gujaf-441	181	25	choices	choice	NOUN
gujaf-441	181	26	.	.	PUNCT
gujaf-441	182	1	this	this	PRON
gujaf-441	182	2	can	can	AUX
gujaf-441	182	3	be	be	AUX
gujaf-441	182	4	modelled	model	VERB
gujaf-441	182	5	as	as	ADP
gujaf-441	182	6	:	:	PUNCT
gujaf-441	182	7	𝐿=𝑓(𝑋,𝑍,𝑄	𝐿=𝑓(𝑋,𝑍,𝑄	PROPN
gujaf-441	182	8	)	)	PUNCT
gujaf-441	182	9	+	+	ADP
gujaf-441	182	10	𝜀	𝜀	X
gujaf-441	182	11	(	(	PUNCT
gujaf-441	182	12	4	4	NUM
gujaf-441	182	13	)	)	PUNCT
gujaf-441	182	14	where	where	SCONJ
gujaf-441	182	15	𝐿is	𝐿is	PROPN
gujaf-441	182	16	leverage	leverage	NOUN
gujaf-441	182	17	,	,	PUNCT
gujaf-441	182	18	𝑋is	𝑋is	PROPN
gujaf-441	182	19	a	a	DET
gujaf-441	182	20	vector	vector	NOUN
gujaf-441	182	21	of	of	ADP
gujaf-441	182	22	firm	firm	ADJ
gujaf-441	182	23	-	-	PUNCT
gujaf-441	182	24	specific	specific	ADJ
gujaf-441	182	25	variables	variable	NOUN
gujaf-441	182	26	,	,	PUNCT
gujaf-441	182	27	𝑍is	𝑍is	PROPN
gujaf-441	182	28	a	a	DET
gujaf-441	182	29	vector	vector	NOUN
gujaf-441	182	30	of	of	ADP
gujaf-441	182	31	macroeconomic	macroeconomic	ADJ
gujaf-441	182	32	variables,𝑄representsinstitutionalquality	variables,𝑄representsinstitutionalquality	NOUN
gujaf-441	182	33	,	,	PUNCT
gujaf-441	182	34	and	and	CCONJ
gujaf-441	182	35	𝜀istheerrorterm(ruiz&villalobos,2024	𝜀istheerrorterm(ruiz&villalobos,2024	NOUN
gujaf-441	182	36	)	)	PUNCT
gujaf-441	182	37	.	.	PUNCT
gujaf-441	183	1	thisframeworkalignswiththeuseofpanelquantileregressiontoexplorehowthefunction	thisframeworkalignswiththeuseofpanelquantileregressiontoexplorehowthefunction	PROPN
gujaf-441	183	2	𝑓(·)mayvaryacrossdifferentquantilesofsmeperformance	𝑓(·)mayvaryacrossdifferentquantilesofsmeperformance	PROPN
gujaf-441	183	3	.	.	PUNCT
gujaf-441	184	1	dataand	dataand	NOUN
gujaf-441	184	2	methods	method	NOUN
gujaf-441	184	3	this	this	DET
gujaf-441	184	4	study	study	NOUN
gujaf-441	184	5	employs	employ	VERB
gujaf-441	184	6	unbalanced	unbalanced	ADJ
gujaf-441	184	7	panel	panel	NOUN
gujaf-441	184	8	data	datum	NOUN
gujaf-441	184	9	covering	cover	VERB
gujaf-441	184	10	smes	sme	NOUN
gujaf-441	184	11	across	across	ADP
gujaf-441	184	12	ten	ten	NUM
gujaf-441	184	13	developing	develop	VERB
gujaf-441	184	14	countries	country	NOUN
gujaf-441	184	15	over	over	ADP
gujaf-441	184	16	the	the	DET
gujaf-441	184	17	period	period	NOUN
gujaf-441	184	18	2010–2022	2010–2022	NUM
gujaf-441	184	19	.	.	PUNCT
gujaf-441	185	1	the	the	DET
gujaf-441	185	2	sample	sample	NOUN
gujaf-441	185	3	is	be	AUX
gujaf-441	185	4	drawn	draw	VERB
gujaf-441	185	5	from	from	ADP
gujaf-441	185	6	the	the	DET
gujaf-441	185	7	world	world	NOUN
gujaf-441	185	8	bank‘s	bank‘s	PROPN
gujaf-441	185	9	enterprise	enterprise	NOUN
gujaf-441	185	10	surveys	survey	NOUN
gujaf-441	185	11	and	and	CCONJ
gujaf-441	185	12	supplemented	supplement	VERB
gujaf-441	185	13	with	with	ADP
gujaf-441	185	14	macroeconomic	macroeconomic	ADJ
gujaf-441	185	15	and	and	CCONJ
gujaf-441	185	16	institutional	institutional	ADJ
gujaf-441	185	17	indicators	indicator	NOUN
gujaf-441	185	18	from	from	ADP
gujaf-441	185	19	the	the	DET
gujaf-441	185	20	world	world	NOUN
gujaf-441	185	21	development	development	NOUN
gujaf-441	185	22	indicators	indicator	NOUN
gujaf-441	185	23	(	(	PUNCT
gujaf-441	185	24	world	world	PROPN
gujaf-441	185	25	bank	bank	NOUN
gujaf-441	185	26	,	,	PUNCT
gujaf-441	185	27	2023	2023	NUM
gujaf-441	185	28	)	)	PUNCT
gujaf-441	185	29	and	and	CCONJ
gujaf-441	185	30	the	the	DET
gujaf-441	185	31	worldwide	worldwide	ADJ
gujaf-441	185	32	governance	governance	NOUN
gujaf-441	185	33	indicators	indicator	NOUN
gujaf-441	185	34	(	(	PUNCT
gujaf-441	185	35	kaufmann	kaufmann	PROPN
gujaf-441	185	36	et	et	PROPN
gujaf-441	185	37	al	al	PROPN
gujaf-441	185	38	.	.	PROPN
gujaf-441	185	39	,	,	PUNCT
gujaf-441	185	40	2022	2022	NUM
gujaf-441	185	41	)	)	PUNCT
gujaf-441	185	42	.	.	PUNCT
gujaf-441	186	1	firms	firm	NOUN
gujaf-441	186	2	included	include	VERB
gujaf-441	186	3	in	in	ADP
gujaf-441	186	4	the	the	DET
gujaf-441	186	5	dataset	dataset	NOUN
gujaf-441	186	6	are	be	AUX
gujaf-441	186	7	privately	privately	ADV
gujaf-441	186	8	owned	own	VERB
gujaf-441	186	9	smes	sme	NOUN
gujaf-441	186	10	with	with	ADP
gujaf-441	186	11	fewer	few	ADJ
gujaf-441	186	12	than	than	ADP
gujaf-441	186	13	250	250	NUM
gujaf-441	186	14	employees	employee	NOUN
gujaf-441	186	15	,	,	PUNCT
gujaf-441	186	16	excluding	exclude	VERB
gujaf-441	186	17	financial	financial	ADJ
gujaf-441	186	18	institutions	institution	NOUN
gujaf-441	186	19	to	to	PART
gujaf-441	186	20	avoid	avoid	VERB
gujaf-441	186	21	sectoral	sectoral	ADJ
gujaf-441	186	22	bias	bias	NOUN
gujaf-441	186	23	.	.	PUNCT
gujaf-441	187	1	the	the	DET
gujaf-441	187	2	sample	sample	NOUN
gujaf-441	187	3	selection	selection	NOUN
gujaf-441	187	4	strategy	strategy	NOUN
gujaf-441	187	5	aims	aim	VERB
gujaf-441	187	6	to	to	PART
gujaf-441	187	7	ensure	ensure	VERB
gujaf-441	187	8	adequate	adequate	ADJ
gujaf-441	187	9	representation	representation	NOUN
gujaf-441	187	10	across	across	ADP
gujaf-441	187	11	firm	firm	ADJ
gujaf-441	187	12	sizes	size	NOUN
gujaf-441	187	13	,	,	PUNCT
gujaf-441	187	14	industries	industry	NOUN
gujaf-441	187	15	,	,	PUNCT
gujaf-441	187	16	and	and	CCONJ
gujaf-441	187	17	performance	performance	NOUN
gujaf-441	187	18	levels	level	NOUN
gujaf-441	187	19	,	,	PUNCT
gujaf-441	187	20	thus	thus	ADV
gujaf-441	187	21	enabling	enable	VERB
gujaf-441	187	22	a	a	DET
gujaf-441	187	23	robust	robust	ADJ
gujaf-441	187	24	analysis	analysis	NOUN
gujaf-441	187	25	of	of	ADP
gujaf-441	187	26	capital	capital	NOUN
gujaf-441	187	27	structure	structure	NOUN
gujaf-441	187	28	heterogeneity	heterogeneity	NOUN
gujaf-441	187	29	.	.	PUNCT
gujaf-441	188	1	firms	firm	NOUN
gujaf-441	188	2	with	with	ADP
gujaf-441	188	3	missing	missing	ADJ
gujaf-441	188	4	or	or	CCONJ
gujaf-441	188	5	inconsistent	inconsistent	ADJ
gujaf-441	188	6	financial	financial	ADJ
gujaf-441	188	7	records	record	NOUN
gujaf-441	188	8	were	be	AUX
gujaf-441	188	9	excluded	exclude	VERB
gujaf-441	188	10	to	to	ADP
gujaf-441	188	11	minimise	minimise	NOUN
gujaf-441	188	12	bias	bias	NOUN
gujaf-441	188	13	associated	associate	VERB
gujaf-441	188	14	with	with	ADP
gujaf-441	188	15	data	datum	NOUN
gujaf-441	188	16	quality	quality	NOUN
gujaf-441	188	17	.	.	PUNCT
gujaf-441	189	1	the	the	DET
gujaf-441	189	2	study	study	NOUN
gujaf-441	189	3	applies	apply	VERB
gujaf-441	189	4	a	a	DET
gujaf-441	189	5	panel	panel	NOUN
gujaf-441	189	6	quantile	quantile	ADJ
gujaf-441	189	7	regression	regression	NOUN
gujaf-441	189	8	framework	framework	NOUN
gujaf-441	189	9	to	to	PART
gujaf-441	189	10	model	model	VERB
gujaf-441	189	11	the	the	DET
gujaf-441	189	12	determinants	determinant	NOUN
gujaf-441	189	13	of	of	ADP
gujaf-441	189	14	sme	sme	ADJ
gujaf-441	189	15	capital	capital	NOUN
gujaf-441	189	16	structure	structure	NOUN
gujaf-441	189	17	across	across	ADP
gujaf-441	189	18	different	different	ADJ
gujaf-441	189	19	points	point	NOUN
gujaf-441	189	20	of	of	ADP
gujaf-441	189	21	the	the	DET
gujaf-441	189	22	conditional	conditional	ADJ
gujaf-441	189	23	leverage	leverage	NOUN
gujaf-441	189	24	distribution	distribution	NOUN
gujaf-441	189	25	.	.	PUNCT
gujaf-441	190	1	the	the	DET
gujaf-441	190	2	baseline	baseline	PROPN
gujaf-441	190	3	model	model	NOUN
gujaf-441	190	4	can	can	AUX
gujaf-441	190	5	be	be	AUX
gujaf-441	190	6	specified	specify	VERB
gujaf-441	190	7	as	as	ADP
gujaf-441	190	8	:	:	PUNCT
gujaf-441	190	9	𝑄𝜏(𝐿𝑖𝑡)=𝑋𝑖𝑡′𝛽(𝜏)+𝑍𝑐𝑡′𝛾(𝜏)+𝛼𝑖(𝜏)+𝜀𝑖𝑡(𝜏	𝑄𝜏(𝐿𝑖𝑡)=𝑋𝑖𝑡′𝛽(𝜏)+𝑍𝑐𝑡′𝛾(𝜏)+𝛼𝑖(𝜏)+𝜀𝑖𝑡(𝜏	NUM
gujaf-441	190	10	)	)	PUNCT
gujaf-441	190	11	(	(	PUNCT
gujaf-441	190	12	5	5	NUM
gujaf-441	190	13	)	)	PUNCT
gujaf-441	190	14	where	where	SCONJ
gujaf-441	190	15	𝑄𝜏(𝐿𝑖𝑡	𝑄𝜏(𝐿𝑖𝑡	NOUN
gujaf-441	190	16	)	)	PUNCT
gujaf-441	190	17	denotes	denote	VERB
gujaf-441	190	18	the	the	DET
gujaf-441	190	19	conditional	conditional	PROPN
gujaf-441	190	20	quantile	quantile	PROPN
gujaf-441	190	21	𝜏of	𝜏of	NOUN
gujaf-441	190	22	leverage	leverage	NOUN
gujaf-441	190	23	𝐿for	𝐿for	PROPN
gujaf-441	190	24	firm	firm	ADJ
gujaf-441	190	25	𝑖in	𝑖in	ADJ
gujaf-441	190	26	year	year	NOUN
gujaf-441	190	27	𝑡	𝑡	PROPN
gujaf-441	190	28	;	;	PUNCT
gujaf-441	190	29	𝑋𝑖𝑡represents	𝑋𝑖𝑡represent	VERB
gujaf-441	190	30	the	the	DET
gujaf-441	190	31	vector	vector	NOUN
gujaf-441	190	32	of	of	ADP
gujaf-441	190	33	firm	firm	ADJ
gujaf-441	190	34	-	-	PUNCT
gujaf-441	190	35	specific	specific	ADJ
gujaf-441	190	36	variables	variable	NOUN
gujaf-441	190	37	;	;	PUNCT
gujaf-441	190	38	𝑍𝑐𝑡is	𝑍𝑐𝑡is	PROPN
gujaf-441	190	39	the	the	DET
gujaf-441	190	40	vector	vector	NOUN
gujaf-441	190	41	of	of	ADP
gujaf-441	190	42	country	country	NOUN
gujaf-441	190	43	-	-	PUNCT
gujaf-441	190	44	level	level	NOUN
gujaf-441	190	45	macroeconomic	macroeconomic	ADJ
gujaf-441	190	46	and	and	CCONJ
gujaf-441	190	47	institutional	institutional	ADJ
gujaf-441	190	48	variables	variable	NOUN
gujaf-441	190	49	;	;	PUNCT
gujaf-441	190	50	𝛼𝑖(𝜏	𝛼𝑖(𝜏	NUM
gujaf-441	190	51	)	)	PUNCT
gujaf-441	190	52	captures	capture	VERB
gujaf-441	190	53	unobserved	unobserved	ADJ
gujaf-441	190	54	firm	firm	ADJ
gujaf-441	190	55	-	-	PUNCT
gujaf-441	190	56	specific	specific	ADJ
gujaf-441	190	57	heterogeneity	heterogeneity	NOUN
gujaf-441	190	58	;	;	PUNCT
gujaf-441	190	59	and	and	CCONJ
gujaf-441	190	60	𝜀𝑖𝑡(𝜏	𝜀𝑖𝑡(𝜏	NOUN
gujaf-441	190	61	)	)	PUNCT
gujaf-441	190	62	is	be	AUX
gujaf-441	190	63	the	the	DET
gujaf-441	190	64	quantile	quantile	ADJ
gujaf-441	190	65	-	-	PUNCT
gujaf-441	190	66	specific	specific	ADJ
gujaf-441	190	67	error	error	NOUN
gujaf-441	190	68	term	term	NOUN
gujaf-441	190	69	.	.	PUNCT
gujaf-441	191	1	the	the	DET
gujaf-441	191	2	quantile	quantile	ADJ
gujaf-441	191	3	coefficients	coefficient	NOUN
gujaf-441	191	4	𝛽(𝜏)and	𝛽(𝜏)and	NOUN
gujaf-441	191	5	𝛾(𝜏	𝛾(𝜏	NOUN
gujaf-441	191	6	)	)	PUNCT
gujaf-441	191	7	provide	provide	VERB
gujaf-441	191	8	insights	insight	NOUN
gujaf-441	191	9	into	into	ADP
gujaf-441	191	10	how	how	SCONJ
gujaf-441	191	11	determinants	determinant	NOUN
gujaf-441	191	12	of	of	ADP
gujaf-441	191	13	capital	capital	NOUN
gujaf-441	191	14	structure	structure	NOUN
gujaf-441	191	15	vary	vary	VERB
gujaf-441	191	16	across	across	ADP
gujaf-441	191	17	the	the	DET
gujaf-441	191	18	leverage	leverage	NOUN
gujaf-441	191	19	distribution	distribution	NOUN
gujaf-441	191	20	.	.	PUNCT
gujaf-441	192	1	toassesssensitivity	toassesssensitivity	NOUN
gujaf-441	192	2	,	,	PUNCT
gujaf-441	192	3	analternativemodelincorporatinginteractiontermsbetweenfirmspecific	analternativemodelincorporatinginteractiontermsbetweenfirmspecific	ADJ
gujaf-441	192	4	and	and	CCONJ
gujaf-441	192	5	macroeconomic	macroeconomic	ADJ
gujaf-441	192	6	variables	variable	NOUN
gujaf-441	192	7	is	be	AUX
gujaf-441	192	8	estimated	estimate	VERB
gujaf-441	192	9	:	:	PUNCT
gujaf-441	192	10	𝑄𝜏(𝐿𝑖𝑡	𝑄𝜏(𝐿𝑖𝑡	NOUN
gujaf-441	192	11	)	)	PUNCT
gujaf-441	192	12	=	=	SYM
gujaf-441	192	13	𝑋𝑖𝑡′	𝑋𝑖𝑡′	X
gujaf-441	192	14	𝛽(𝜏	𝛽(𝜏	PROPN
gujaf-441	192	15	)	)	PUNCT
gujaf-441	193	1	+	+	CCONJ
gujaf-441	193	2	𝑍𝑐𝑡′	𝑍𝑐𝑡′	PUNCT
gujaf-441	193	3	𝛾(𝜏	𝛾(𝜏	ADJ
gujaf-441	193	4	)	)	PUNCT
gujaf-441	193	5	+	+	CCONJ
gujaf-441	193	6	(	(	PUNCT
gujaf-441	193	7	𝑋𝑖𝑡o	𝑋𝑖𝑡o	PROPN
gujaf-441	193	8	𝑍𝑐𝑡)′𝛿(𝜏	𝑍𝑐𝑡)′𝛿(𝜏	NOUN
gujaf-441	193	9	)	)	PUNCT
gujaf-441	193	10	+	+	NOUN
gujaf-441	193	11	𝛼𝑖(𝜏	𝛼𝑖(𝜏	NUM
gujaf-441	193	12	)	)	PUNCT
gujaf-441	193	13	+	+	NUM
gujaf-441	193	14	𝜀𝑖𝑡(𝜏	𝜀𝑖𝑡(𝜏	NOUN
gujaf-441	193	15	)	)	PUNCT
gujaf-441	193	16	(	(	PUNCT
gujaf-441	193	17	6	6	NUM
gujaf-441	193	18	)	)	PUNCT
gujaf-441	193	19	where(𝑋𝑖𝑡	where(𝑋𝑖𝑡	PROPN
gujaf-441	193	20	o	o	NOUN
gujaf-441	193	21	𝑍𝑐𝑡)denoteselement	𝑍𝑐𝑡)denoteselement	NOUN
gujaf-441	193	22	-	-	PUNCT
gujaf-441	193	23	wiseinteractionsbetweenfirm	wiseinteractionsbetweenfirm	NOUN
gujaf-441	193	24	-	-	PUNCT
gujaf-441	193	25	levelandcountry	levelandcountry	NOUN
gujaf-441	193	26	-	-	PUNCT
gujaf-441	193	27	level	level	NOUN
gujaf-441	193	28	variables	variable	NOUN
gujaf-441	193	29	,	,	PUNCT
gujaf-441	193	30	and	and	CCONJ
gujaf-441	193	31	𝛿(𝜏	𝛿(𝜏	NUM
gujaf-441	193	32	)	)	PUNCT
gujaf-441	193	33	captures	capture	VERB
gujaf-441	193	34	their	their	PRON
gujaf-441	193	35	heterogeneous	heterogeneous	ADJ
gujaf-441	193	36	effects	effect	NOUN
gujaf-441	193	37	at	at	ADP
gujaf-441	193	38	quantile𝜏.	quantile𝜏.	NOUN
gujaf-441	193	39	the	the	DET
gujaf-441	193	40	study	study	NOUN
gujaf-441	193	41	adopts	adopt	VERB
gujaf-441	193	42	the	the	DET
gujaf-441	193	43	panel	panel	NOUN
gujaf-441	193	44	quantile	quantile	ADJ
gujaf-441	193	45	regression	regression	NOUN
gujaf-441	193	46	approach	approach	NOUN
gujaf-441	193	47	proposed	propose	VERB
gujaf-441	193	48	by	by	ADP
gujaf-441	193	49	powell	powell	PROPN
gujaf-441	193	50	(	(	PUNCT
gujaf-441	193	51	2020	2020	NUM
gujaf-441	193	52	)	)	PUNCT
gujaf-441	193	53	,	,	PUNCT
gujaf-441	193	54	which	which	PRON
gujaf-441	193	55	allows	allow	VERB
gujaf-441	193	56	for	for	ADP
gujaf-441	193	57	firm	firm	ADJ
gujaf-441	193	58	fixed	fix	VERB
gujaf-441	193	59	effects	effect	NOUN
gujaf-441	193	60	in	in	ADP
gujaf-441	193	61	quantile	quantile	ADJ
gujaf-441	193	62	models	model	NOUN
gujaf-441	193	63	.	.	PUNCT
gujaf-441	194	1	this	this	DET
gujaf-441	194	2	method	method	NOUN
gujaf-441	194	3	is	be	AUX
gujaf-441	194	4	selected	select	VERB
gujaf-441	194	5	due	due	ADP
gujaf-441	194	6	to	to	ADP
gujaf-441	194	7	its	its	PRON
gujaf-441	194	8	ability	ability	NOUN
gujaf-441	194	9	to	to	PART
gujaf-441	194	10	capturedistributionalheterogeneitythatordinaryleastsquaresormeanregressionapproaches	capturedistributionalheterogeneitythatordinaryleastsquaresormeanregressionapproache	NOUN
gujaf-441	194	11	might	might	AUX
gujaf-441	194	12	obscure	obscure	VERB
gujaf-441	194	13	(	(	PUNCT
gujaf-441	194	14	machokoto	machokoto	PROPN
gujaf-441	194	15	&	&	CCONJ
gujaf-441	194	16	areneke	areneke	ADJ
gujaf-441	194	17	,	,	PUNCT
gujaf-441	194	18	2021	2021	NUM
gujaf-441	194	19	)	)	PUNCT
gujaf-441	194	20	.	.	PUNCT
gujaf-441	195	1	the	the	DET
gujaf-441	195	2	estimation	estimation	NOUN
gujaf-441	195	3	proceeds	proceed	VERB
gujaf-441	195	4	by	by	ADP
gujaf-441	195	5	solving	solve	VERB
gujaf-441	195	6	:	:	PUNCT
gujaf-441	195	7	min∑𝜌𝜏(𝐿𝑖𝑡−𝑋𝑖𝑡′𝛽(𝜏)−𝑍𝑐𝑡′𝛾(𝜏)−𝛼𝑖(𝜏	min∑𝜌𝜏(𝐿𝑖𝑡−𝑋𝑖𝑡′𝛽(𝜏)−𝑍𝑐𝑡′𝛾(𝜏)−𝛼𝑖(𝜏	NUM
gujaf-441	195	8	)	)	PUNCT
gujaf-441	195	9	)	)	PUNCT
gujaf-441	195	10	(	(	PUNCT
gujaf-441	195	11	7	7	X
gujaf-441	195	12	)	)	PUNCT
gujaf-441	195	13	𝛽(𝜏	𝛽(𝜏	PROPN
gujaf-441	195	14	)	)	PUNCT
gujaf-441	195	15	𝑖,𝑡	𝑖,𝑡	VERB
gujaf-441	195	16	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	195	17	,	,	PUNCT
gujaf-441	195	18	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	195	19	427	427	NUM
gujaf-441	195	20	where𝜌𝜏(𝑢	where𝜌𝜏(𝑢	NOUN
gujaf-441	195	21	)	)	PUNCT
gujaf-441	195	22	=	=	PUNCT
gujaf-441	196	1	𝑢(𝜏	𝑢(𝜏	PROPN
gujaf-441	196	2	−	−	NOUN
gujaf-441	196	3	𝐼(𝑢	𝐼(𝑢	NOUN
gujaf-441	196	4	<	<	X
gujaf-441	196	5	0))isthestandardcheckfunctionforquantileregression	0))isthestandardcheckfunctionforquantileregression	NUM
gujaf-441	196	6	.	.	PUNCT
gujaf-441	197	1	robuststandarderrors	robuststandarderror	VERB
gujaf-441	197	2	clusteredatfirmlevelareusedtoaddressheteroskedasticityandserial	clusteredatfirmlevelareusedtoaddressheteroskedasticityandserial	ADJ
gujaf-441	197	3	correlation	correlation	NOUN
gujaf-441	197	4	.	.	PUNCT
gujaf-441	198	1	robustness	robustness	NOUN
gujaf-441	198	2	checks	check	NOUN
gujaf-441	198	3	are	be	AUX
gujaf-441	198	4	performed	perform	VERB
gujaf-441	198	5	through	through	ADP
gujaf-441	198	6	alternative	alternative	ADJ
gujaf-441	198	7	specifications	specification	NOUN
gujaf-441	198	8	,	,	PUNCT
gujaf-441	198	9	including	include	VERB
gujaf-441	198	10	mean	mean	NOUN
gujaf-441	198	11	regressions	regression	NOUN
gujaf-441	198	12	with	with	ADP
gujaf-441	198	13	firm	firm	ADJ
gujaf-441	198	14	fixed	fix	VERB
gujaf-441	198	15	effects	effect	NOUN
gujaf-441	198	16	,	,	PUNCT
gujaf-441	198	17	and	and	CCONJ
gujaf-441	198	18	by	by	ADP
gujaf-441	198	19	estimating	estimate	VERB
gujaf-441	198	20	models	model	NOUN
gujaf-441	198	21	with	with	ADP
gujaf-441	198	22	lagged	lag	VERB
gujaf-441	198	23	explanatory	explanatory	ADJ
gujaf-441	198	24	variables	variable	NOUN
gujaf-441	198	25	to	to	PART
gujaf-441	198	26	mitigate	mitigate	VERB
gujaf-441	198	27	endogeneity	endogeneity	NOUN
gujaf-441	198	28	concerns	concern	NOUN
gujaf-441	198	29	.	.	PUNCT
gujaf-441	199	1	furthermore	furthermore	ADV
gujaf-441	199	2	,	,	PUNCT
gujaf-441	199	3	a	a	DET
gujaf-441	199	4	sub	sub	ADJ
gujaf-441	199	5	-	-	ADJ
gujaf-441	199	6	sample	sample	ADJ
gujaf-441	199	7	analysis	analysis	NOUN
gujaf-441	199	8	is	be	AUX
gujaf-441	199	9	conducted	conduct	VERB
gujaf-441	199	10	based	base	VERB
gujaf-441	199	11	on	on	ADP
gujaf-441	199	12	firm	firm	ADJ
gujaf-441	199	13	age	age	NOUN
gujaf-441	199	14	and	and	CCONJ
gujaf-441	199	15	industry	industry	NOUN
gujaf-441	199	16	groupings	grouping	NOUN
gujaf-441	199	17	,	,	PUNCT
gujaf-441	199	18	while	while	SCONJ
gujaf-441	199	19	a	a	DET
gujaf-441	199	20	bootstrap	bootstrap	NOUN
gujaf-441	199	21	resampling	resample	VERB
gujaf-441	199	22	method	method	NOUN
gujaf-441	199	23	(	(	PUNCT
gujaf-441	199	24	500	500	NUM
gujaf-441	199	25	replications	replication	NOUN
gujaf-441	199	26	)	)	PUNCT
gujaf-441	199	27	assesses	assess	VERB
gujaf-441	199	28	the	the	DET
gujaf-441	199	29	stability	stability	NOUN
gujaf-441	199	30	of	of	ADP
gujaf-441	199	31	the	the	DET
gujaf-441	199	32	quantile	quantile	ADJ
gujaf-441	199	33	estimates	estimate	NOUN
gujaf-441	199	34	(	(	PUNCT
gujaf-441	199	35	buchinsky	buchinsky	NOUN
gujaf-441	199	36	,	,	PUNCT
gujaf-441	199	37	1998	1998	NUM
gujaf-441	199	38	)	)	PUNCT
gujaf-441	199	39	.	.	PUNCT
gujaf-441	200	1	the	the	DET
gujaf-441	200	2	inclusion	inclusion	NOUN
gujaf-441	200	3	of	of	ADP
gujaf-441	200	4	interaction	interaction	NOUN
gujaf-441	200	5	terms	term	NOUN
gujaf-441	200	6	in	in	ADP
gujaf-441	200	7	equation	equation	NOUN
gujaf-441	200	8	(	(	PUNCT
gujaf-441	200	9	6	6	NUM
gujaf-441	200	10	)	)	PUNCT
gujaf-441	200	11	serves	serve	VERB
gujaf-441	200	12	as	as	ADP
gujaf-441	200	13	an	an	DET
gujaf-441	200	14	additional	additional	ADJ
gujaf-441	200	15	sensitivity	sensitivity	NOUN
gujaf-441	200	16	analysis	analysis	NOUN
gujaf-441	200	17	to	to	PART
gujaf-441	200	18	test	test	VERB
gujaf-441	200	19	the	the	DET
gujaf-441	200	20	conditional	conditional	ADJ
gujaf-441	200	21	heterogeneity	heterogeneity	NOUN
gujaf-441	200	22	of	of	ADP
gujaf-441	200	23	firm	firm	ADJ
gujaf-441	200	24	-	-	PUNCT
gujaf-441	200	25	macroeconomic	macroeconomic	ADJ
gujaf-441	200	26	dynamics	dynamic	NOUN
gujaf-441	200	27	.	.	PUNCT
gujaf-441	201	1	table1	table1	PROPN
gujaf-441	201	2	:	:	PUNCT
gujaf-441	201	3	variabledefinitionsanddatasources	variabledefinitionsanddatasource	VERB
gujaf-441	201	4	variable	variable	ADJ
gujaf-441	201	5	definition	definition	NOUN
gujaf-441	201	6	datasource	datasource	NOUN
gujaf-441	201	7	leverage(l	leverage(l	PROPN
gujaf-441	201	8	)	)	PUNCT
gujaf-441	201	9	ratiooftotaldebttototal	ratiooftotaldebttototal	ADJ
gujaf-441	201	10	assets	asset	NOUN
gujaf-441	201	11	worldbankenterprisesurveys	worldbankenterprisesurvey	VERB
gujaf-441	201	12	profitability	profitability	NOUN
gujaf-441	201	13	returnon	returnon	NOUN
gujaf-441	201	14	assets	asset	NOUN
gujaf-441	201	15	worldbankenterprisesurveys	worldbankenterprisesurveys	AUX
gujaf-441	201	16	firmsize	firmsize	PROPN
gujaf-441	201	17	naturallogoftotal	naturallogoftotal	ADJ
gujaf-441	201	18	assets	asset	NOUN
gujaf-441	201	19	worldbankenterprisesurveys	worldbankenterprisesurvey	VERB
gujaf-441	201	20	tangibility	tangibility	NOUN
gujaf-441	201	21	ratiooffixedassetstototal	ratiooffixedassetstototal	ADJ
gujaf-441	201	22	assets	asset	NOUN
gujaf-441	201	23	worldbankenterprisesurveys	worldbankenterprisesurvey	VERB
gujaf-441	201	24	growth	growth	NOUN
gujaf-441	201	25	annualsalesgrowthrate	annualsalesgrowthrate	NOUN
gujaf-441	201	26	worldbankenterprisesurveys	worldbankenterprisesurvey	VERB
gujaf-441	201	27	inflation	inflation	NOUN
gujaf-441	201	28	annualpercentagechangeinconsumer	annualpercentagechangeinconsumer	ADJ
gujaf-441	201	29	prices	price	NOUN
gujaf-441	201	30	worlddevelopmentindicators	worlddevelopmentindicator	NOUN
gujaf-441	201	31	gdpgrowth	gdpgrowth	PROPN
gujaf-441	201	32	annualgdpgrowthrate(%	annualgdpgrowthrate(%	NOUN
gujaf-441	201	33	)	)	PUNCT
gujaf-441	201	34	worlddevelopmentindicators	worlddevelopmentindicator	NOUN
gujaf-441	201	35	interestrate	interestrate	PROPN
gujaf-441	201	36	lendinginterestrate(%	lendinginterestrate(%	NOUN
gujaf-441	201	37	)	)	PUNCT
gujaf-441	201	38	worlddevelopmentindicators	worlddevelopmentindicator	NOUN
gujaf-441	201	39	institutional	institutional	ADJ
gujaf-441	201	40	quality	quality	NOUN
gujaf-441	201	41	compositeofgovernanceindicators	compositeofgovernanceindicator	NOUN
gujaf-441	201	42	worldwidegovernance	worldwidegovernance	NOUN
gujaf-441	201	43	indicators	indicator	NOUN
gujaf-441	201	44	source	source	NOUN
gujaf-441	201	45	:	:	PUNCT
gujaf-441	201	46	author	author	NOUN
gujaf-441	201	47	(	(	PUNCT
gujaf-441	201	48	2024	2024	NUM
gujaf-441	201	49	)	)	PUNCT
gujaf-441	202	1	4.0	4.0	NUM
gujaf-441	202	2	results	result	VERB
gujaf-441	202	3	the	the	DET
gujaf-441	202	4	empirical	empirical	ADJ
gujaf-441	202	5	results	result	NOUN
gujaf-441	202	6	provide	provide	VERB
gujaf-441	202	7	comprehensive	comprehensive	ADJ
gujaf-441	202	8	insights	insight	NOUN
gujaf-441	202	9	into	into	ADP
gujaf-441	202	10	the	the	DET
gujaf-441	202	11	determinants	determinant	NOUN
gujaf-441	202	12	of	of	ADP
gujaf-441	202	13	corporate	corporate	ADJ
gujaf-441	202	14	leverage	leverage	NOUN
gujaf-441	202	15	in	in	ADP
gujaf-441	202	16	the	the	DET
gujaf-441	202	17	examined	examine	VERB
gujaf-441	202	18	sample	sample	NOUN
gujaf-441	202	19	.	.	PUNCT
gujaf-441	203	1	the	the	DET
gujaf-441	203	2	strong	strong	ADJ
gujaf-441	203	3	negative	negative	ADJ
gujaf-441	203	4	association	association	NOUN
gujaf-441	203	5	between	between	ADP
gujaf-441	203	6	firm	firm	ADJ
gujaf-441	203	7	size	size	NOUN
gujaf-441	203	8	and	and	CCONJ
gujaf-441	203	9	leverage	leverage	NOUN
gujaf-441	203	10	,	,	PUNCT
gujaf-441	203	11	asindicatedbybothols(−0.202,p<0.01)andquantileregressionestimates(e.g	asindicatedbybothols(−0.202,p<0.01)andquantileregressionestimates(e.g	PROPN
gujaf-441	203	12	.	.	PROPN
gujaf-441	203	13	,	,	PUNCT
gujaf-441	203	14	−0.210	−0.210	PROPN
gujaf-441	203	15	at	at	ADP
gujaf-441	203	16	the	the	DET
gujaf-441	203	17	0.25	0.25	NUM
gujaf-441	203	18	quantile	quantile	NOUN
gujaf-441	203	19	)	)	PUNCT
gujaf-441	203	20	,	,	PUNCT
gujaf-441	203	21	suggests	suggest	VERB
gujaf-441	203	22	that	that	SCONJ
gujaf-441	203	23	larger	large	ADJ
gujaf-441	203	24	firms	firm	NOUN
gujaf-441	203	25	may	may	AUX
gujaf-441	203	26	rely	rely	VERB
gujaf-441	203	27	less	less	ADV
gujaf-441	203	28	on	on	ADP
gujaf-441	203	29	external	external	ADJ
gujaf-441	203	30	debt	debt	NOUN
gujaf-441	203	31	financing	financing	NOUN
gujaf-441	203	32	.	.	PUNCT
gujaf-441	204	1	this	this	DET
gujaf-441	204	2	pattern	pattern	NOUN
gujaf-441	204	3	aligns	align	VERB
gujaf-441	204	4	with	with	ADP
gujaf-441	204	5	the	the	DET
gujaf-441	204	6	pecking	pecking	NOUN
gujaf-441	204	7	order	order	NOUN
gujaf-441	204	8	theory	theory	NOUN
gujaf-441	204	9	,	,	PUNCT
gujaf-441	204	10	which	which	PRON
gujaf-441	204	11	posits	posit	VERB
gujaf-441	204	12	that	that	SCONJ
gujaf-441	204	13	larger	large	ADJ
gujaf-441	204	14	firms	firm	NOUN
gujaf-441	204	15	,	,	PUNCT
gujaf-441	204	16	given	give	VERB
gujaf-441	204	17	their	their	PRON
gujaf-441	204	18	greater	great	ADJ
gujaf-441	204	19	internal	internal	ADJ
gujaf-441	204	20	resources	resource	NOUN
gujaf-441	204	21	,	,	PUNCT
gujaf-441	204	22	may	may	AUX
gujaf-441	204	23	prefer	prefer	VERB
gujaf-441	204	24	internal	internal	ADJ
gujaf-441	204	25	financing	financing	NOUN
gujaf-441	204	26	over	over	ADP
gujaf-441	204	27	debt	debt	NOUN
gujaf-441	204	28	(	(	PUNCT
gujaf-441	204	29	abbas	abbas	PROPN
gujaf-441	204	30	et	et	PROPN
gujaf-441	204	31	al	al	PROPN
gujaf-441	204	32	.	.	PROPN
gujaf-441	204	33	,	,	PUNCT
gujaf-441	204	34	2023	2023	NUM
gujaf-441	204	35	;	;	PUNCT
gujaf-441	204	36	singh	singh	PROPN
gujaf-441	204	37	&	&	CCONJ
gujaf-441	204	38	sharma	sharma	PROPN
gujaf-441	204	39	,	,	PUNCT
gujaf-441	204	40	2021	2021	NUM
gujaf-441	204	41	)	)	PUNCT
gujaf-441	204	42	.	.	PUNCT
gujaf-441	205	1	the	the	DET
gujaf-441	205	2	pronounced	pronounce	VERB
gujaf-441	205	3	correlation	correlation	NOUN
gujaf-441	205	4	coefficient	coefficient	NOUN
gujaf-441	205	5	between	between	ADP
gujaf-441	205	6	firm	firm	ADJ
gujaf-441	205	7	size	size	NOUN
gujaf-441	205	8	and	and	CCONJ
gujaf-441	205	9	leverage	leverage	NOUN
gujaf-441	205	10	(	(	PUNCT
gujaf-441	205	11	−0.760	−0.760	NOUN
gujaf-441	205	12	)	)	PUNCT
gujaf-441	205	13	further	far	ADV
gujaf-441	205	14	reinforces	reinforce	VERB
gujaf-441	205	15	this	this	DET
gujaf-441	205	16	interpretation	interpretation	NOUN
gujaf-441	205	17	.	.	PUNCT
gujaf-441	206	1	it	it	PRON
gujaf-441	206	2	is	be	AUX
gujaf-441	206	3	plausible	plausible	ADJ
gujaf-441	206	4	that	that	SCONJ
gujaf-441	206	5	larger	large	ADJ
gujaf-441	206	6	firms	firm	NOUN
gujaf-441	206	7	in	in	ADP
gujaf-441	206	8	the	the	DET
gujaf-441	206	9	sample	sample	NOUN
gujaf-441	206	10	enjoy	enjoy	VERB
gujaf-441	206	11	stronger	strong	ADJ
gujaf-441	206	12	cash	cash	NOUN
gujaf-441	206	13	flow	flow	NOUN
gujaf-441	206	14	positions	position	NOUN
gujaf-441	206	15	and	and	CCONJ
gujaf-441	206	16	reputational	reputational	ADJ
gujaf-441	206	17	advantages	advantage	NOUN
gujaf-441	206	18	,	,	PUNCT
gujaf-441	206	19	reducing	reduce	VERB
gujaf-441	206	20	their	their	PRON
gujaf-441	206	21	dependence	dependence	NOUN
gujaf-441	206	22	on	on	ADP
gujaf-441	206	23	debt	debt	NOUN
gujaf-441	206	24	markets	market	NOUN
gujaf-441	206	25	(	(	PUNCT
gujaf-441	206	26	zou	zou	X
gujaf-441	206	27	et	et	PROPN
gujaf-441	206	28	al	al	PROPN
gujaf-441	206	29	.	.	PROPN
gujaf-441	206	30	,	,	PUNCT
gujaf-441	206	31	2022	2022	NUM
gujaf-441	206	32	)	)	PUNCT
gujaf-441	206	33	.	.	PUNCT
gujaf-441	207	1	profitability	profitability	NOUN
gujaf-441	207	2	demonstrates	demonstrate	VERB
gujaf-441	207	3	a	a	DET
gujaf-441	207	4	positive	positive	ADJ
gujaf-441	207	5	and	and	CCONJ
gujaf-441	207	6	significant	significant	ADJ
gujaf-441	207	7	influence	influence	NOUN
gujaf-441	207	8	on	on	ADP
gujaf-441	207	9	leverage	leverage	NOUN
gujaf-441	207	10	across	across	ADP
gujaf-441	207	11	all	all	DET
gujaf-441	207	12	model	model	NOUN
gujaf-441	207	13	specifications	specification	NOUN
gujaf-441	207	14	,	,	PUNCT
gujaf-441	207	15	with	with	ADP
gujaf-441	207	16	an	an	DET
gujaf-441	207	17	ols	ol	NOUN
gujaf-441	207	18	coefficient	coefficient	NOUN
gujaf-441	207	19	of	of	ADP
gujaf-441	207	20	0.514	0.514	NUM
gujaf-441	207	21	(	(	PUNCT
gujaf-441	207	22	p	p	X
gujaf-441	207	23	<	<	X
gujaf-441	207	24	0.01	0.01	NUM
gujaf-441	207	25	)	)	PUNCT
gujaf-441	207	26	and	and	CCONJ
gujaf-441	207	27	consistent	consistent	ADJ
gujaf-441	207	28	positive	positive	ADJ
gujaf-441	207	29	estimates	estimate	NOUN
gujaf-441	207	30	in	in	ADP
gujaf-441	207	31	quantile	quantile	ADJ
gujaf-441	207	32	regressions	regression	NOUN
gujaf-441	207	33	(	(	PUNCT
gujaf-441	207	34	e.g.	e.g.	ADV
gujaf-441	207	35	,	,	PUNCT
gujaf-441	207	36	0.600	0.600	NUM
gujaf-441	207	37	at	at	ADP
gujaf-441	207	38	the	the	DET
gujaf-441	207	39	0.25	0.25	NUM
gujaf-441	207	40	quantile	quantile	NOUN
gujaf-441	207	41	)	)	PUNCT
gujaf-441	207	42	.	.	PUNCT
gujaf-441	208	1	this	this	DET
gujaf-441	208	2	finding	finding	NOUN
gujaf-441	208	3	appears	appear	VERB
gujaf-441	208	4	contrary	contrary	ADJ
gujaf-441	208	5	to	to	ADP
gujaf-441	208	6	the	the	DET
gujaf-441	208	7	pecking	pecking	NOUN
gujaf-441	208	8	order	order	NOUN
gujaf-441	208	9	hypothesis	hypothesis	NOUN
gujaf-441	208	10	,	,	PUNCT
gujaf-441	208	11	which	which	PRON
gujaf-441	208	12	typically	typically	ADV
gujaf-441	208	13	associates	associate	VERB
gujaf-441	208	14	higher	high	ADJ
gujaf-441	208	15	profitability	profitability	NOUN
gujaf-441	208	16	with	with	ADP
gujaf-441	208	17	lower	low	ADJ
gujaf-441	208	18	leverage	leverage	NOUN
gujaf-441	208	19	(	(	PUNCT
gujaf-441	208	20	myers	myers	PROPN
gujaf-441	208	21	&	&	CCONJ
gujaf-441	208	22	majluf	majluf	PROPN
gujaf-441	208	23	,	,	PUNCT
gujaf-441	208	24	1984	1984	NUM
gujaf-441	208	25	)	)	PUNCT
gujaf-441	208	26	.	.	PUNCT
gujaf-441	209	1	however	however	ADV
gujaf-441	209	2	,	,	PUNCT
gujaf-441	209	3	it	it	PRON
gujaf-441	209	4	may	may	AUX
gujaf-441	209	5	reflect	reflect	VERB
gujaf-441	209	6	a	a	DET
gujaf-441	209	7	context	context	NOUN
gujaf-441	209	8	where	where	SCONJ
gujaf-441	209	9	profitable	profitable	ADJ
gujaf-441	209	10	firms	firm	NOUN
gujaf-441	209	11	leverage	leverage	VERB
gujaf-441	209	12	debt	debt	NOUN
gujaf-441	209	13	strategically	strategically	ADV
gujaf-441	209	14	,	,	PUNCT
gujaf-441	209	15	possibly	possibly	ADV
gujaf-441	209	16	due	due	ADP
gujaf-441	209	17	to	to	ADP
gujaf-441	209	18	tax	tax	NOUN
gujaf-441	209	19	shield	shield	NOUN
gujaf-441	209	20	advantages	advantage	NOUN
gujaf-441	209	21	or	or	CCONJ
gujaf-441	209	22	to	to	PART
gujaf-441	209	23	signal	signal	VERB
gujaf-441	209	24	confidence	confidence	NOUN
gujaf-441	209	25	to	to	ADP
gujaf-441	209	26	investors	investor	NOUN
gujaf-441	209	27	(	(	PUNCT
gujaf-441	209	28	chen	chen	PROPN
gujaf-441	209	29	et	et	PROPN
gujaf-441	209	30	al	al	PROPN
gujaf-441	209	31	.	.	PROPN
gujaf-441	209	32	,	,	PUNCT
gujaf-441	209	33	2021	2021	NUM
gujaf-441	209	34	)	)	PUNCT
gujaf-441	209	35	.	.	PUNCT
gujaf-441	210	1	moreover	moreover	ADV
gujaf-441	210	2	,	,	PUNCT
gujaf-441	210	3	the	the	DET
gujaf-441	210	4	sensitivity	sensitivity	NOUN
gujaf-441	210	5	analysis	analysis	NOUN
gujaf-441	210	6	reveals	reveal	VERB
gujaf-441	210	7	that	that	SCONJ
gujaf-441	210	8	the	the	DET
gujaf-441	210	9	profitability	profitability	NOUN
gujaf-441	210	10	-	-	PUNCT
gujaf-441	210	11	inflation	inflation	NOUN
gujaf-441	210	12	interactionterm(−0.028,p=0.056)approachessignificance	interactionterm(−0.028,p=0.056)approachessignificance	NOUN
gujaf-441	210	13	,	,	PUNCT
gujaf-441	210	14	suggestingthatthepositive	suggestingthatthepositive	ADJ
gujaf-441	210	15	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	210	16	,	,	PUNCT
gujaf-441	210	17	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	210	18	428	428	NUM
gujaf-441	210	19	effect	effect	NOUN
gujaf-441	210	20	of	of	ADP
gujaf-441	210	21	profitability	profitability	NOUN
gujaf-441	210	22	on	on	ADP
gujaf-441	210	23	leverage	leverage	NOUN
gujaf-441	210	24	may	may	AUX
gujaf-441	210	25	weaken	weaken	VERB
gujaf-441	210	26	slightly	slightly	ADV
gujaf-441	210	27	in	in	ADP
gujaf-441	210	28	higher	high	ADJ
gujaf-441	210	29	inflation	inflation	NOUN
gujaf-441	210	30	environments	environment	NOUN
gujaf-441	210	31	(	(	PUNCT
gujaf-441	210	32	kumar	kumar	PROPN
gujaf-441	210	33	&	&	CCONJ
gujaf-441	210	34	bansal	bansal	PROPN
gujaf-441	210	35	,	,	PUNCT
gujaf-441	210	36	2023	2023	NUM
gujaf-441	210	37	)	)	PUNCT
gujaf-441	210	38	.	.	PUNCT
gujaf-441	211	1	the	the	DET
gujaf-441	211	2	positive	positive	ADJ
gujaf-441	211	3	and	and	CCONJ
gujaf-441	211	4	statistically	statistically	ADV
gujaf-441	211	5	significant	significant	ADJ
gujaf-441	211	6	coefficients	coefficient	NOUN
gujaf-441	211	7	of	of	ADP
gujaf-441	211	8	tangibility	tangibility	NOUN
gujaf-441	211	9	(	(	PUNCT
gujaf-441	211	10	0.391	0.391	NUM
gujaf-441	211	11	in	in	ADP
gujaf-441	211	12	ols	ol	NOUN
gujaf-441	211	13	;	;	PUNCT
gujaf-441	211	14	0.400	0.400	NUM
gujaf-441	211	15	at	at	ADP
gujaf-441	211	16	0.25	0.25	NUM
gujaf-441	211	17	quantile	quantile	NOUN
gujaf-441	211	18	)	)	PUNCT
gujaf-441	211	19	are	be	AUX
gujaf-441	211	20	consistent	consistent	ADJ
gujaf-441	211	21	with	with	ADP
gujaf-441	211	22	the	the	DET
gujaf-441	211	23	argument	argument	NOUN
gujaf-441	211	24	that	that	SCONJ
gujaf-441	211	25	tangible	tangible	ADJ
gujaf-441	211	26	assets	asset	NOUN
gujaf-441	211	27	enhance	enhance	VERB
gujaf-441	211	28	firms	firm	NOUN
gujaf-441	211	29	'	'	PART
gujaf-441	211	30	borrowing	borrowing	NOUN
gujaf-441	211	31	capacity	capacity	NOUN
gujaf-441	211	32	by	by	ADP
gujaf-441	211	33	serving	serve	VERB
gujaf-441	211	34	as	as	ADP
gujaf-441	211	35	collateral	collateral	NOUN
gujaf-441	211	36	(	(	PUNCT
gujaf-441	211	37	mule	mule	PROPN
gujaf-441	211	38	et	et	PROPN
gujaf-441	211	39	al	al	PROPN
gujaf-441	211	40	.	.	PROPN
gujaf-441	211	41	,	,	PUNCT
gujaf-441	211	42	2020	2020	NUM
gujaf-441	211	43	)	)	PUNCT
gujaf-441	211	44	.	.	PUNCT
gujaf-441	212	1	this	this	DET
gujaf-441	212	2	effect	effect	NOUN
gujaf-441	212	3	appears	appear	VERB
gujaf-441	212	4	relatively	relatively	ADV
gujaf-441	212	5	stable	stable	ADJ
gujaf-441	212	6	across	across	ADP
gujaf-441	212	7	the	the	DET
gujaf-441	212	8	leverage	leverage	NOUN
gujaf-441	212	9	distribution	distribution	NOUN
gujaf-441	212	10	,	,	PUNCT
gujaf-441	212	11	as	as	SCONJ
gujaf-441	212	12	indicated	indicate	VERB
gujaf-441	212	13	by	by	ADP
gujaf-441	212	14	the	the	DET
gujaf-441	212	15	small	small	ADJ
gujaf-441	212	16	variation	variation	NOUN
gujaf-441	212	17	in	in	ADP
gujaf-441	212	18	quantile	quantile	ADJ
gujaf-441	212	19	regression	regression	NOUN
gujaf-441	212	20	coefficients	coefficient	NOUN
gujaf-441	212	21	.	.	PUNCT
gujaf-441	213	1	the	the	DET
gujaf-441	213	2	positive	positive	ADJ
gujaf-441	213	3	correlation	correlation	NOUN
gujaf-441	213	4	between	between	ADP
gujaf-441	213	5	tangibility	tangibility	NOUN
gujaf-441	213	6	and	and	CCONJ
gujaf-441	213	7	leverage	leverage	NOUN
gujaf-441	213	8	(	(	PUNCT
gujaf-441	213	9	0.243	0.243	NUM
gujaf-441	213	10	)	)	PUNCT
gujaf-441	213	11	also	also	ADV
gujaf-441	213	12	supports	support	VERB
gujaf-441	213	13	this	this	DET
gujaf-441	213	14	assertion	assertion	NOUN
gujaf-441	213	15	.	.	PUNCT
gujaf-441	214	1	such	such	ADJ
gujaf-441	214	2	results	result	NOUN
gujaf-441	214	3	align	align	VERB
gujaf-441	214	4	with	with	ADP
gujaf-441	214	5	theoretical	theoretical	ADJ
gujaf-441	214	6	predictions	prediction	NOUN
gujaf-441	214	7	from	from	ADP
gujaf-441	214	8	agency	agency	NOUN
gujaf-441	214	9	cost	cost	NOUN
gujaf-441	214	10	models	model	NOUN
gujaf-441	214	11	that	that	PRON
gujaf-441	214	12	tangible	tangible	ADJ
gujaf-441	214	13	assets	asset	NOUN
gujaf-441	214	14	reduce	reduce	VERB
gujaf-441	214	15	moral	moral	ADJ
gujaf-441	214	16	hazard	hazard	NOUN
gujaf-441	214	17	concerns	concern	NOUN
gujaf-441	214	18	for	for	ADP
gujaf-441	214	19	creditors	creditor	NOUN
gujaf-441	214	20	(	(	PUNCT
gujaf-441	214	21	ahmed	ahmed	PROPN
gujaf-441	214	22	&	&	CCONJ
gujaf-441	214	23	naqvi	naqvi	NOUN
gujaf-441	214	24	,	,	PUNCT
gujaf-441	214	25	2021	2021	NUM
gujaf-441	214	26	)	)	PUNCT
gujaf-441	214	27	.	.	PUNCT
gujaf-441	215	1	in	in	ADP
gujaf-441	215	2	markets	market	NOUN
gujaf-441	215	3	where	where	SCONJ
gujaf-441	215	4	creditor	creditor	NOUN
gujaf-441	215	5	rights	right	NOUN
gujaf-441	215	6	enforcement	enforcement	NOUN
gujaf-441	215	7	may	may	AUX
gujaf-441	215	8	be	be	AUX
gujaf-441	215	9	imperfect	imperfect	ADJ
gujaf-441	215	10	,	,	PUNCT
gujaf-441	215	11	collateral	collateral	ADJ
gujaf-441	215	12	value	value	NOUN
gujaf-441	215	13	remains	remain	VERB
gujaf-441	215	14	a	a	DET
gujaf-441	215	15	critical	critical	ADJ
gujaf-441	215	16	determinant	determinant	NOUN
gujaf-441	215	17	of	of	ADP
gujaf-441	215	18	leverage	leverage	NOUN
gujaf-441	215	19	decisions	decision	NOUN
gujaf-441	215	20	(	(	PUNCT
gujaf-441	215	21	boukhatem	boukhatem	PROPN
gujaf-441	215	22	&	&	CCONJ
gujaf-441	215	23	moussa	moussa	PROPN
gujaf-441	215	24	,	,	PUNCT
gujaf-441	215	25	2020	2020	NUM
gujaf-441	215	26	)	)	PUNCT
gujaf-441	215	27	.	.	PUNCT
gujaf-441	216	1	table	table	NOUN
gujaf-441	216	2	2	2	NUM
gujaf-441	216	3	:	:	PUNCT
gujaf-441	216	4	correlationmatrix	correlationmatrix	VERB
gujaf-441	216	5	leverage	leverage	NOUN
gujaf-441	216	6	profitability	profitability	NOUN
gujaf-441	216	7	firm_size	firm_size	PROPN
gujaf-441	216	8	tangibility	tangibility	NOUN
gujaf-441	216	9	inflation	inflation	NOUN
gujaf-441	216	10	gdp_growth	gdp_growth	NOUN
gujaf-441	216	11	leverage	leverage	NOUN
gujaf-441	216	12	1.000	1.000	NUM
gujaf-441	216	13	0.094	0.094	NUM
gujaf-441	216	14	-0.760	-0.760	NOUN
gujaf-441	216	15	0.243	0.243	NUM
gujaf-441	216	16	0.375	0.375	NUM
gujaf-441	216	17	-0.161	-0.161	PUNCT
gujaf-441	216	18	profitability	profitability	NOUN
gujaf-441	216	19	0.094	0.094	NUM
gujaf-441	216	20	1.000	1.000	NUM
gujaf-441	216	21	-0.002	-0.002	PUNCT
gujaf-441	216	22	-0.017	-0.017	X
gujaf-441	216	23	-0.006	-0.006	X
gujaf-441	216	24	-0.012	-0.012	INTJ
gujaf-441	216	25	firm_size	firm_size	ADJ
gujaf-441	216	26	-0.760	-0.760	NOUN
gujaf-441	216	27	-0.002	-0.002	PUNCT
gujaf-441	216	28	1.000	1.000	NUM
gujaf-441	216	29	-0.008	-0.008	NOUN
gujaf-441	216	30	-0.007	-0.007	PUNCT
gujaf-441	216	31	-0.001	-0.001	X
gujaf-441	216	32	tangibility	tangibility	NOUN
gujaf-441	216	33	0.243	0.243	NUM
gujaf-441	216	34	-0.017	-0.017	X
gujaf-441	216	35	-0.008	-0.008	PROPN
gujaf-441	216	36	1.000	1.000	NUM
gujaf-441	216	37	0.021	0.021	NUM
gujaf-441	216	38	0.003	0.003	NUM
gujaf-441	216	39	inflation	inflation	NOUN
gujaf-441	216	40	0.375	0.375	NUM
gujaf-441	216	41	-0.006	-0.006	X
gujaf-441	216	42	-0.007	-0.007	PROPN
gujaf-441	216	43	0.021	0.021	NUM
gujaf-441	216	44	1.000	1.000	NUM
gujaf-441	216	45	0.004	0.004	NUM
gujaf-441	216	46	gdp_growth	gdp_growth	NOUN
gujaf-441	216	47	-0.161	-0.161	PUNCT
gujaf-441	216	48	-0.012	-0.012	NUM
gujaf-441	216	49	-0.001	-0.001	NOUN
gujaf-441	216	50	0.003	0.003	NUM
gujaf-441	216	51	0.004	0.004	NUM
gujaf-441	216	52	1.000	1.000	NUM
gujaf-441	216	53	source	source	NOUN
gujaf-441	216	54	:	:	PUNCT
gujaf-441	216	55	author(2024	author(2024	NUM
gujaf-441	216	56	)	)	PUNCT
gujaf-441	216	57	table3	table3	PROPN
gujaf-441	216	58	:	:	PUNCT
gujaf-441	216	59	varianceinflationfactors(vif	varianceinflationfactors(vif	NOUN
gujaf-441	216	60	)	)	PUNCT
gujaf-441	216	61	variable	variable	ADJ
gujaf-441	216	62	vif	vif	X
gujaf-441	216	63	const	const	VERB
gujaf-441	216	64	197.681	197.681	NUM
gujaf-441	217	1	profitability	profitability	NOUN
gujaf-441	217	2	1.001	1.001	NUM
gujaf-441	217	3	firm_size	firm_size	PROPN
gujaf-441	217	4	1.001	1.001	NUM
gujaf-441	217	5	tangibility	tangibility	NOUN
gujaf-441	217	6	1.002	1.002	NUM
gujaf-441	217	7	growth	growth	NOUN
gujaf-441	217	8	1.002	1.002	NUM
gujaf-441	217	9	inflation	inflation	NOUN
gujaf-441	217	10	1.001	1.001	NUM
gujaf-441	217	11	gdp_growth	gdp_growth	NOUN
gujaf-441	217	12	1.002	1.002	NUM
gujaf-441	217	13	interest_rate	interest_rate	PROPN
gujaf-441	217	14	1.001	1.001	NUM
gujaf-441	217	15	institutional_quality	institutional_quality	NOUN
gujaf-441	217	16	1.001	1.001	NUM
gujaf-441	217	17	source	source	NOUN
gujaf-441	217	18	:	:	PUNCT
gujaf-441	217	19	author	author	NOUN
gujaf-441	217	20	(	(	PUNCT
gujaf-441	217	21	2024	2024	NUM
gujaf-441	217	22	)	)	PUNCT
gujaf-441	217	23	table4	table4	NOUN
gujaf-441	217	24	:	:	PUNCT
gujaf-441	217	25	olsestimationresults	olsestimationresult	NOUN
gujaf-441	217	26	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	217	27	,	,	PUNCT
gujaf-441	217	28	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	217	29	429	429	NUM
gujaf-441	217	30	variable	variable	ADJ
gujaf-441	217	31	coefficient	coefficient	NOUN
gujaf-441	217	32	std	std	NOUN
gujaf-441	217	33	.	.	PUNCT
gujaf-441	218	1	error	error	NOUN
gujaf-441	218	2	p	p	NOUN
gujaf-441	218	3	-	-	PUNCT
gujaf-441	218	4	value	value	NOUN
gujaf-441	218	5	intercept	intercept	NOUN
gujaf-441	218	6	0.328	0.328	NUM
gujaf-441	218	7	0.020	0.020	NUM
gujaf-441	218	8	0.000	0.000	NUM
gujaf-441	218	9	profitability	profitability	NOUN
gujaf-441	218	10	0.514	0.514	NUM
gujaf-441	218	11	0.029	0.029	NUM
gujaf-441	218	12	0.000	0.000	NUM
gujaf-441	218	13	firm_size	firm_size	NOUN
gujaf-441	218	14	-0.202	-0.202	NOUN
gujaf-441	218	15	0.001	0.001	NUM
gujaf-441	218	16	0.000	0.000	NUM
gujaf-441	218	17	tangibility	tangibility	NOUN
gujaf-441	218	18	0.391	0.391	NUM
gujaf-441	218	19	0.009	0.009	NUM
gujaf-441	218	20	0.000	0.000	NUM
gujaf-441	218	21	growth	growth	NOUN
gujaf-441	218	22	0.120	0.120	NUM
gujaf-441	218	23	0.015	0.015	NUM
gujaf-441	218	24	0.000	0.000	NUM
gujaf-441	218	25	inflation	inflation	NOUN
gujaf-441	218	26	0.050	0.050	NUM
gujaf-441	218	27	0.001	0.001	NUM
gujaf-441	218	28	0.000	0.000	NUM
gujaf-441	218	29	gdp_growth	gdp_growth	NOUN
gujaf-441	218	30	-0.030	-0.030	PUNCT
gujaf-441	218	31	0.001	0.001	NUM
gujaf-441	218	32	0.000	0.000	NUM
gujaf-441	218	33	interest_rate	interest_rate	NOUN
gujaf-441	218	34	-0.019	-0.019	PROPN
gujaf-441	218	35	0.000	0.000	NUM
gujaf-441	218	36	0.000	0.000	NUM
gujaf-441	218	37	institutional_quality	institutional_quality	NOUN
gujaf-441	218	38	0.165	0.165	NUM
gujaf-441	218	39	0.015	0.015	NUM
gujaf-441	218	40	0.000	0.000	NUM
gujaf-441	218	41	source	source	NOUN
gujaf-441	218	42	:	:	PUNCT
gujaf-441	218	43	author	author	NOUN
gujaf-441	218	44	(	(	PUNCT
gujaf-441	218	45	2024	2024	NUM
gujaf-441	218	46	)	)	PUNCT
gujaf-441	218	47	macroeconomic	macroeconomic	ADJ
gujaf-441	218	48	variables	variable	NOUN
gujaf-441	218	49	also	also	ADV
gujaf-441	218	50	exhibit	exhibit	VERB
gujaf-441	218	51	notable	notable	ADJ
gujaf-441	218	52	impacts	impact	NOUN
gujaf-441	218	53	.	.	PUNCT
gujaf-441	219	1	inflation	inflation	NOUN
gujaf-441	219	2	exerts	exert	VERB
gujaf-441	219	3	a	a	DET
gujaf-441	219	4	positive	positive	ADJ
gujaf-441	219	5	effect	effect	NOUN
gujaf-441	219	6	on	on	ADP
gujaf-441	219	7	leverage	leverage	NOUN
gujaf-441	219	8	(	(	PUNCT
gujaf-441	219	9	ols	ol	NOUN
gujaf-441	219	10	coefficient	coefficient	NOUN
gujaf-441	219	11	:	:	PUNCT
gujaf-441	219	12	0.050	0.050	NUM
gujaf-441	219	13	,	,	PUNCT
gujaf-441	219	14	p	p	X
gujaf-441	219	15	<	<	X
gujaf-441	219	16	0.01	0.01	NUM
gujaf-441	219	17	)	)	PUNCT
gujaf-441	219	18	,	,	PUNCT
gujaf-441	219	19	consistent	consistent	ADJ
gujaf-441	219	20	with	with	ADP
gujaf-441	219	21	theories	theory	NOUN
gujaf-441	219	22	that	that	SCONJ
gujaf-441	219	23	firms	firm	NOUN
gujaf-441	219	24	may	may	AUX
gujaf-441	219	25	increase	increase	VERB
gujaf-441	219	26	leverage	leverage	NOUN
gujaf-441	219	27	to	to	PART
gujaf-441	219	28	exploit	exploit	VERB
gujaf-441	219	29	inflation	inflation	NOUN
gujaf-441	219	30	-	-	PUNCT
gujaf-441	219	31	induced	induce	VERB
gujaf-441	219	32	reductions	reduction	NOUN
gujaf-441	219	33	in	in	ADP
gujaf-441	219	34	real	real	ADJ
gujaf-441	219	35	debt	debt	NOUN
gujaf-441	219	36	burdens	burden	NOUN
gujaf-441	219	37	(	(	PUNCT
gujaf-441	219	38	nnadi	nnadi	NOUN
gujaf-441	219	39	et	et	PROPN
gujaf-441	219	40	al	al	PROPN
gujaf-441	219	41	.	.	PROPN
gujaf-441	219	42	,	,	PUNCT
gujaf-441	219	43	2021	2021	NUM
gujaf-441	219	44	)	)	PUNCT
gujaf-441	219	45	.	.	PUNCT
gujaf-441	220	1	the	the	DET
gujaf-441	220	2	positiveinflationcoefficientacrossquantilessuggeststhisbehaviorisconsistentregardlessof	positiveinflationcoefficientacrossquantilessuggeststhisbehaviorisconsistentregardlessof	NOUN
gujaf-441	220	3	firms	firm	NOUN
gujaf-441	220	4	‘	'	PUNCT
gujaf-441	220	5	leverage	leverage	NOUN
gujaf-441	220	6	levels	level	NOUN
gujaf-441	220	7	.	.	PUNCT
gujaf-441	221	1	gdp	gdp	NOUN
gujaf-441	221	2	growth	growth	NOUN
gujaf-441	221	3	,	,	PUNCT
gujaf-441	221	4	on	on	ADP
gujaf-441	221	5	the	the	DET
gujaf-441	221	6	other	other	ADJ
gujaf-441	221	7	hand	hand	NOUN
gujaf-441	221	8	,	,	PUNCT
gujaf-441	221	9	is	be	AUX
gujaf-441	221	10	negativelyassociated	negativelyassociate	VERB
gujaf-441	221	11	with	with	ADP
gujaf-441	221	12	leverage	leverage	NOUN
gujaf-441	221	13	(	(	PUNCT
gujaf-441	221	14	−0.030	−0.030	PROPN
gujaf-441	221	15	in	in	ADP
gujaf-441	221	16	ols	ols	PROPN
gujaf-441	221	17	;	;	PUNCT
gujaf-441	221	18	−0.035	−0.035	NOUN
gujaf-441	221	19	at	at	ADP
gujaf-441	221	20	0.25	0.25	NUM
gujaf-441	221	21	quantile	quantile	NOUN
gujaf-441	221	22	)	)	PUNCT
gujaf-441	221	23	,	,	PUNCT
gujaf-441	221	24	indicating	indicate	VERB
gujaf-441	221	25	that	that	SCONJ
gujaf-441	221	26	firms	firm	NOUN
gujaf-441	221	27	reduce	reduce	VERB
gujaf-441	221	28	reliance	reliance	NOUN
gujaf-441	221	29	on	on	ADP
gujaf-441	221	30	debt	debt	NOUN
gujaf-441	221	31	as	as	SCONJ
gujaf-441	221	32	macroeconomic	macroeconomic	ADJ
gujaf-441	221	33	conditions	condition	NOUN
gujaf-441	221	34	improve	improve	VERB
gujaf-441	221	35	.	.	PUNCT
gujaf-441	222	1	this	this	DET
gujaf-441	222	2	inverse	inverse	NOUN
gujaf-441	222	3	relationship	relationship	NOUN
gujaf-441	222	4	may	may	AUX
gujaf-441	222	5	reflect	reflect	VERB
gujaf-441	222	6	greaterprofitability	greaterprofitability	NOUN
gujaf-441	222	7	and	and	CCONJ
gujaf-441	222	8	retained	retain	VERB
gujaf-441	222	9	earnings	earning	NOUN
gujaf-441	222	10	during	during	ADP
gujaf-441	222	11	growth	growth	NOUN
gujaf-441	222	12	periods	period	NOUN
gujaf-441	222	13	,	,	PUNCT
gujaf-441	222	14	lessening	lessen	VERB
gujaf-441	222	15	the	the	DET
gujaf-441	222	16	need	need	NOUN
gujaf-441	222	17	for	for	ADP
gujaf-441	222	18	external	external	ADJ
gujaf-441	222	19	financing	financing	NOUN
gujaf-441	222	20	(	(	PUNCT
gujaf-441	222	21	kumar	kumar	PROPN
gujaf-441	222	22	&	&	CCONJ
gujaf-441	222	23	bansal	bansal	PROPN
gujaf-441	222	24	,	,	PUNCT
gujaf-441	222	25	2023	2023	NUM
gujaf-441	222	26	)	)	PUNCT
gujaf-441	222	27	.	.	PUNCT
gujaf-441	223	1	interestingly	interestingly	ADV
gujaf-441	223	2	,	,	PUNCT
gujaf-441	223	3	the	the	DET
gujaf-441	223	4	size	size	NOUN
gujaf-441	223	5	-	-	PUNCT
gujaf-441	223	6	gdp	gdp	NOUN
gujaf-441	223	7	growth	growth	NOUN
gujaf-441	223	8	interaction	interaction	NOUN
gujaf-441	223	9	in	in	ADP
gujaf-441	223	10	the	the	DET
gujaf-441	223	11	sensitivity	sensitivity	NOUN
gujaf-441	223	12	analysis	analysis	NOUN
gujaf-441	223	13	is	be	AUX
gujaf-441	223	14	insignificant	insignificant	ADJ
gujaf-441	223	15	(	(	PUNCT
gujaf-441	223	16	p	p	X
gujaf-441	223	17	=	=	NOUN
gujaf-441	223	18	0.964	0.964	NUM
gujaf-441	223	19	)	)	PUNCT
gujaf-441	223	20	,	,	PUNCT
gujaf-441	223	21	suggesting	suggest	VERB
gujaf-441	223	22	firm	firm	ADJ
gujaf-441	223	23	size	size	NOUN
gujaf-441	223	24	does	do	AUX
gujaf-441	223	25	not	not	PART
gujaf-441	223	26	moderate	moderate	VERB
gujaf-441	223	27	the	the	DET
gujaf-441	223	28	gdp	gdp	NOUN
gujaf-441	223	29	-	-	PUNCT
gujaf-441	223	30	growthleverage	growthleverage	NOUN
gujaf-441	223	31	nexus	nexus	NOUN
gujaf-441	223	32	.	.	PUNCT
gujaf-441	224	1	interest	interest	NOUN
gujaf-441	224	2	rates	rate	NOUN
gujaf-441	224	3	display	display	VERB
gujaf-441	224	4	a	a	DET
gujaf-441	224	5	negative	negative	ADJ
gujaf-441	224	6	and	and	CCONJ
gujaf-441	224	7	statistically	statistically	ADV
gujaf-441	224	8	significant	significant	ADJ
gujaf-441	224	9	relationship	relationship	NOUN
gujaf-441	224	10	with	with	ADP
gujaf-441	224	11	leverage(−0.019	leverage(−0.019	NOUN
gujaf-441	224	12	in	in	ADP
gujaf-441	224	13	ols	ol	NOUN
gujaf-441	224	14	;	;	PUNCT
gujaf-441	224	15	−0.022	−0.022	PROPN
gujaf-441	224	16	at	at	ADP
gujaf-441	224	17	0.25	0.25	NUM
gujaf-441	224	18	quantile	quantile	NOUN
gujaf-441	224	19	)	)	PUNCT
gujaf-441	224	20	,	,	PUNCT
gujaf-441	224	21	implying	imply	VERB
gujaf-441	224	22	that	that	SCONJ
gujaf-441	224	23	higher	high	ADJ
gujaf-441	224	24	borrowing	borrowing	NOUN
gujaf-441	224	25	costs	cost	NOUN
gujaf-441	224	26	deter	deter	VERB
gujaf-441	224	27	debt	debt	NOUN
gujaf-441	224	28	usage	usage	NOUN
gujaf-441	224	29	,	,	PUNCT
gujaf-441	224	30	as	as	SCONJ
gujaf-441	224	31	expected	expect	VERB
gujaf-441	224	32	under	under	ADP
gujaf-441	224	33	standard	standard	ADJ
gujaf-441	224	34	capital	capital	NOUN
gujaf-441	224	35	structure	structure	NOUN
gujaf-441	224	36	models	model	NOUN
gujaf-441	224	37	(	(	PUNCT
gujaf-441	224	38	khan	khan	PROPN
gujaf-441	224	39	et	et	PROPN
gujaf-441	224	40	al	al	PROPN
gujaf-441	224	41	.	.	PROPN
gujaf-441	224	42	,	,	PUNCT
gujaf-441	224	43	2020	2020	NUM
gujaf-441	224	44	)	)	PUNCT
gujaf-441	224	45	.	.	PUNCT
gujaf-441	225	1	the	the	DET
gujaf-441	225	2	stability	stability	NOUN
gujaf-441	225	3	of	of	ADP
gujaf-441	225	4	this	this	DET
gujaf-441	225	5	relationship	relationship	NOUN
gujaf-441	225	6	across	across	ADP
gujaf-441	225	7	quantiles	quantile	NOUN
gujaf-441	225	8	indicates	indicate	VERB
gujaf-441	225	9	that	that	SCONJ
gujaf-441	225	10	firms	firm	NOUN
gujaf-441	225	11	,	,	PUNCT
gujaf-441	225	12	regardless	regardless	ADV
gujaf-441	225	13	of	of	ADP
gujaf-441	225	14	their	their	PRON
gujaf-441	225	15	leverage	leverage	NOUN
gujaf-441	225	16	levels	level	NOUN
gujaf-441	225	17	,	,	PUNCT
gujaf-441	225	18	are	be	AUX
gujaf-441	225	19	sensitive	sensitive	ADJ
gujaf-441	225	20	to	to	ADP
gujaf-441	225	21	monetary	monetary	ADJ
gujaf-441	225	22	policy	policy	NOUN
gujaf-441	225	23	conditions	condition	NOUN
gujaf-441	225	24	.	.	PUNCT
gujaf-441	226	1	this	this	DET
gujaf-441	226	2	finding	finding	NOUN
gujaf-441	226	3	is	be	AUX
gujaf-441	226	4	consistent	consistent	ADJ
gujaf-441	226	5	with	with	ADP
gujaf-441	226	6	the	the	DET
gujaf-441	226	7	broader	broad	ADJ
gujaf-441	226	8	literature	literature	NOUN
gujaf-441	226	9	on	on	ADP
gujaf-441	226	10	interest	interest	NOUN
gujaf-441	226	11	rate	rate	NOUN
gujaf-441	226	12	pass	pass	NOUN
gujaf-441	226	13	-	-	PUNCT
gujaf-441	226	14	through	through	NOUN
gujaf-441	226	15	and	and	CCONJ
gujaf-441	226	16	corporate	corporate	ADJ
gujaf-441	226	17	financing	financing	NOUN
gujaf-441	226	18	(	(	PUNCT
gujaf-441	226	19	siddique	siddique	X
gujaf-441	226	20	et	et	PROPN
gujaf-441	226	21	al	al	PROPN
gujaf-441	226	22	.	.	PROPN
gujaf-441	226	23	,	,	PUNCT
gujaf-441	226	24	2022	2022	NUM
gujaf-441	226	25	)	)	PUNCT
gujaf-441	226	26	.	.	PUNCT
gujaf-441	227	1	the	the	DET
gujaf-441	227	2	robustnessoftheseresultsisfurtherevidencedbythelowvarianceinflationfactors(allvif	robustnessoftheseresultsisfurtherevidencedbythelowvarianceinflationfactors(allvif	NOUN
gujaf-441	227	3	<	<	X
gujaf-441	227	4	1.01	1.01	NUM
gujaf-441	227	5	,	,	PUNCT
gujaf-441	227	6	asidefrom	asidefrom	ADP
gujaf-441	227	7	theconstant	theconstant	ADJ
gujaf-441	227	8	term	term	NOUN
gujaf-441	227	9	)	)	PUNCT
gujaf-441	227	10	,	,	PUNCT
gujaf-441	227	11	rulingoutmulticollinearityconcerns	rulingoutmulticollinearityconcern	NOUN
gujaf-441	227	12	.	.	PUNCT
gujaf-441	228	1	institutionalqualityexertsapositiveandsignificantinfluenceonleverage	institutionalqualityexertsapositiveandsignificantinfluenceonleverage	PROPN
gujaf-441	228	2	decisions(0.165	decisions(0.165	PROPN
gujaf-441	228	3	in	in	ADP
gujaf-441	228	4	ols	ol	NOUN
gujaf-441	228	5	;	;	PUNCT
gujaf-441	228	6	0.180	0.180	NUM
gujaf-441	228	7	at	at	ADP
gujaf-441	228	8	0.25	0.25	NUM
gujaf-441	228	9	quantile	quantile	NOUN
gujaf-441	228	10	)	)	PUNCT
gujaf-441	228	11	,	,	PUNCT
gujaf-441	228	12	underscoring	underscore	VERB
gujaf-441	228	13	the	the	DET
gujaf-441	228	14	importance	importance	NOUN
gujaf-441	228	15	of	of	ADP
gujaf-441	228	16	formal	formal	ADJ
gujaf-441	228	17	institutional	institutional	ADJ
gujaf-441	228	18	environments	environment	NOUN
gujaf-441	228	19	in	in	ADP
gujaf-441	228	20	shaping	shape	VERB
gujaf-441	228	21	capital	capital	NOUN
gujaf-441	228	22	structure	structure	NOUN
gujaf-441	228	23	.	.	PUNCT
gujaf-441	229	1	this	this	DET
gujaf-441	229	2	finding	finding	NOUN
gujaf-441	229	3	aligns	align	VERB
gujaf-441	229	4	with	with	ADP
gujaf-441	229	5	prior	prior	ADJ
gujaf-441	229	6	studies	study	NOUN
gujaf-441	229	7	highlighting	highlight	VERB
gujaf-441	229	8	thatstrongerinstitutionsmitigateinformationalasymmetriesand	thatstrongerinstitutionsmitigateinformationalasymmetriesand	NOUN
gujaf-441	229	9	improvecreditorconfidence	improvecreditorconfidence	ADV
gujaf-441	229	10	(	(	PUNCT
gujaf-441	229	11	abbas	abbas	PROPN
gujaf-441	229	12	et	et	PROPN
gujaf-441	229	13	al	al	PROPN
gujaf-441	229	14	.	.	PROPN
gujaf-441	229	15	,	,	PUNCT
gujaf-441	229	16	2023	2023	NUM
gujaf-441	229	17	)	)	PUNCT
gujaf-441	229	18	.	.	PUNCT
gujaf-441	230	1	firms	firm	NOUN
gujaf-441	230	2	operating	operate	VERB
gujaf-441	230	3	in	in	ADP
gujaf-441	230	4	better	well	ADJ
gujaf-441	230	5	institutional	institutional	ADJ
gujaf-441	230	6	settings	setting	NOUN
gujaf-441	230	7	may	may	AUX
gujaf-441	230	8	find	find	VERB
gujaf-441	230	9	it	it	PRON
gujaf-441	230	10	easier	easy	ADJ
gujaf-441	230	11	toaccess	toaccess	ADJ
gujaf-441	230	12	debt	debt	NOUN
gujaf-441	230	13	markets	market	NOUN
gujaf-441	230	14	due	due	ADJ
gujaf-441	230	15	to	to	ADP
gujaf-441	230	16	enhanced	enhance	VERB
gujaf-441	230	17	legal	legal	ADJ
gujaf-441	230	18	protections	protection	NOUN
gujaf-441	230	19	and	and	CCONJ
gujaf-441	230	20	contract	contract	NOUN
gujaf-441	230	21	enforceability	enforceability	NOUN
gujaf-441	230	22	(	(	PUNCT
gujaf-441	230	23	zou	zou	PROPN
gujaf-441	230	24	et	et	PROPN
gujaf-441	230	25	al	al	PROPN
gujaf-441	230	26	.	.	PROPN
gujaf-441	230	27	,	,	PUNCT
gujaf-441	230	28	2022	2022	NUM
gujaf-441	230	29	)	)	PUNCT
gujaf-441	230	30	.	.	PUNCT
gujaf-441	231	1	this	this	PRON
gujaf-441	231	2	reinforces	reinforce	VERB
gujaf-441	231	3	the	the	DET
gujaf-441	231	4	view	view	NOUN
gujaf-441	231	5	that	that	SCONJ
gujaf-441	231	6	institutional	institutional	ADJ
gujaf-441	231	7	frameworks	framework	NOUN
gujaf-441	231	8	are	be	AUX
gujaf-441	231	9	key	key	ADJ
gujaf-441	231	10	to	to	ADP
gujaf-441	231	11	financial	financial	ADJ
gujaf-441	231	12	market	market	NOUN
gujaf-441	231	13	development	development	NOUN
gujaf-441	231	14	and	and	CCONJ
gujaf-441	231	15	corporate	corporate	ADJ
gujaf-441	231	16	financing	financing	NOUN
gujaf-441	231	17	strategies	strategy	NOUN
gujaf-441	231	18	in	in	ADP
gujaf-441	231	19	emerging	emerge	VERB
gujaf-441	231	20	economies	economy	NOUN
gujaf-441	231	21	.	.	PUNCT
gujaf-441	232	1	the	the	DET
gujaf-441	232	2	residual	residual	ADJ
gujaf-441	232	3	diagnostics	diagnostic	NOUN
gujaf-441	232	4	provide	provide	VERB
gujaf-441	232	5	additional	additional	ADJ
gujaf-441	232	6	support	support	NOUN
gujaf-441	232	7	for	for	ADP
gujaf-441	232	8	model	model	NOUN
gujaf-441	232	9	adequacy	adequacy	NOUN
gujaf-441	232	10	.	.	PUNCT
gujaf-441	233	1	the	the	DET
gujaf-441	233	2	residualsexhibit	residualsexhibit	NOUN
gujaf-441	233	3	a	a	DET
gujaf-441	233	4	mean	mean	NOUN
gujaf-441	233	5	near	near	ADP
gujaf-441	233	6	zero	zero	NUM
gujaf-441	233	7	(	(	PUNCT
gujaf-441	233	8	−0.000	−0.000	NOUN
gujaf-441	233	9	)	)	PUNCT
gujaf-441	233	10	and	and	CCONJ
gujaf-441	233	11	are	be	AUX
gujaf-441	233	12	symmetrically	symmetrically	ADV
gujaf-441	233	13	distributed	distribute	VERB
gujaf-441	233	14	around	around	ADP
gujaf-441	233	15	this	this	DET
gujaf-441	233	16	mean	mean	NOUN
gujaf-441	233	17	,	,	PUNCT
gujaf-441	233	18	as	as	ADP
gujaf-441	233	19	indicatedbythequartiles(25%=−0.070;50%=0.001;75%=0.069).thestandard	indicatedbythequartiles(25%=−0.070;50%=0.001;75%=0.069).thestandard	PROPN
gujaf-441	233	20	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	233	21	,	,	PUNCT
gujaf-441	233	22	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	233	23	430	430	NUM
gujaf-441	233	24	deviation	deviation	NOUN
gujaf-441	233	25	(	(	PUNCT
gujaf-441	233	26	0.102	0.102	NUM
gujaf-441	233	27	)	)	PUNCT
gujaf-441	233	28	and	and	CCONJ
gujaf-441	233	29	the	the	DET
gujaf-441	233	30	absence	absence	NOUN
gujaf-441	233	31	of	of	ADP
gujaf-441	233	32	large	large	ADJ
gujaf-441	233	33	residuals	residual	NOUN
gujaf-441	233	34	(	(	PUNCT
gujaf-441	233	35	min	min	NOUN
gujaf-441	233	36	:	:	PUNCT
gujaf-441	233	37	−0.349	−0.349	NOUN
gujaf-441	233	38	;	;	PUNCT
gujaf-441	233	39	max	max	PROPN
gujaf-441	233	40	:	:	PUNCT
gujaf-441	233	41	0.342	0.342	NUM
gujaf-441	233	42	)	)	PUNCT
gujaf-441	233	43	suggest	suggest	VERB
gujaf-441	233	44	no	no	DET
gujaf-441	233	45	extreme	extreme	ADJ
gujaf-441	233	46	deviations	deviation	NOUN
gujaf-441	233	47	,	,	PUNCT
gujaf-441	233	48	supporting	support	VERB
gujaf-441	233	49	the	the	DET
gujaf-441	233	50	assumptions	assumption	NOUN
gujaf-441	233	51	of	of	ADP
gujaf-441	233	52	homoscedasticity	homoscedasticity	NOUN
gujaf-441	233	53	and	and	CCONJ
gujaf-441	233	54	normality	normality	NOUN
gujaf-441	233	55	.	.	PUNCT
gujaf-441	234	1	the	the	DET
gujaf-441	234	2	q	q	ADJ
gujaf-441	234	3	-	-	PUNCT
gujaf-441	234	4	q	q	NOUN
gujaf-441	234	5	plot	plot	NOUN
gujaf-441	234	6	and	and	CCONJ
gujaf-441	234	7	scale	scale	NOUN
gujaf-441	234	8	-	-	PUNCT
gujaf-441	234	9	location	location	NOUN
gujaf-441	234	10	plot	plot	NOUN
gujaf-441	234	11	(	(	PUNCT
gujaf-441	234	12	not	not	PART
gujaf-441	234	13	shown	show	VERB
gujaf-441	234	14	here	here	ADV
gujaf-441	234	15	but	but	CCONJ
gujaf-441	234	16	derived	derive	VERB
gujaf-441	234	17	in	in	ADP
gujaf-441	234	18	the	the	DET
gujaf-441	234	19	analysis	analysis	NOUN
gujaf-441	234	20	)	)	PUNCT
gujaf-441	234	21	further	far	ADV
gujaf-441	234	22	confirm	confirm	VERB
gujaf-441	234	23	that	that	SCONJ
gujaf-441	234	24	the	the	DET
gujaf-441	234	25	residuals	residual	NOUN
gujaf-441	234	26	closely	closely	ADV
gujaf-441	234	27	follow	follow	VERB
gujaf-441	234	28	the	the	DET
gujaf-441	234	29	normal	normal	ADJ
gujaf-441	234	30	distribution	distribution	NOUN
gujaf-441	234	31	and	and	CCONJ
gujaf-441	234	32	that	that	DET
gujaf-441	234	33	variance	variance	NOUN
gujaf-441	234	34	is	be	AUX
gujaf-441	234	35	roughly	roughly	ADV
gujaf-441	234	36	constant	constant	ADJ
gujaf-441	234	37	across	across	ADP
gujaf-441	234	38	fitted	fit	VERB
gujaf-441	234	39	values	value	NOUN
gujaf-441	234	40	.	.	PUNCT
gujaf-441	235	1	these	these	DET
gujaf-441	235	2	outcomes	outcome	NOUN
gujaf-441	235	3	strengthen	strengthen	VERB
gujaf-441	235	4	confidence	confidence	NOUN
gujaf-441	235	5	in	in	ADP
gujaf-441	235	6	the	the	DET
gujaf-441	235	7	reliability	reliability	NOUN
gujaf-441	235	8	of	of	ADP
gujaf-441	235	9	the	the	DET
gujaf-441	235	10	ols	ol	NOUN
gujaf-441	235	11	estimates	estimate	NOUN
gujaf-441	235	12	(	(	PUNCT
gujaf-441	235	13	mensah	mensah	PROPN
gujaf-441	235	14	et	et	PROPN
gujaf-441	235	15	al	al	PROPN
gujaf-441	235	16	.	.	PROPN
gujaf-441	235	17	,	,	PUNCT
gujaf-441	235	18	2023	2023	NUM
gujaf-441	235	19	)	)	PUNCT
gujaf-441	235	20	.	.	PUNCT
gujaf-441	236	1	table5	table5	PROPN
gujaf-441	236	2	:	:	PUNCT
gujaf-441	237	1	residualsummary(post	residualsummary(post	NOUN
gujaf-441	237	2	-	-	PUNCT
gujaf-441	237	3	estimationdiagnostics	estimationdiagnostic	NOUN
gujaf-441	237	4	)	)	PUNCT
gujaf-441	237	5	value	value	NOUN
gujaf-441	237	6	mean	mean	NOUN
gujaf-441	237	7	-0.000	-0.000	PUNCT
gujaf-441	237	8	std	std	PUNCT
gujaf-441	237	9	0.102	0.102	NUM
gujaf-441	237	10	min	min	NOUN
gujaf-441	237	11	-0.349	-0.349	PUNCT
gujaf-441	237	12	25	25	NUM
gujaf-441	237	13	%	%	NOUN
gujaf-441	237	14	-0.070	-0.070	NUM
gujaf-441	237	15	50	50	NUM
gujaf-441	237	16	%	%	NOUN
gujaf-441	237	17	0.001	0.001	NUM
gujaf-441	237	18	75	75	NUM
gujaf-441	237	19	%	%	NOUN
gujaf-441	237	20	0.069	0.069	NUM
gujaf-441	237	21	max	max	PROPN
gujaf-441	237	22	0.342	0.342	NUM
gujaf-441	237	23	source	source	NOUN
gujaf-441	237	24	:	:	PUNCT
gujaf-441	237	25	author	author	NOUN
gujaf-441	237	26	(	(	PUNCT
gujaf-441	237	27	2024	2024	NUM
gujaf-441	237	28	)	)	PUNCT
gujaf-441	237	29	table6	table6	NOUN
gujaf-441	237	30	:	:	PUNCT
gujaf-441	237	31	sensitivityestimationresults(withinteractionterms	sensitivityestimationresults(withinteractionterm	NOUN
gujaf-441	237	32	)	)	PUNCT
gujaf-441	237	33	variable	variable	ADJ
gujaf-441	237	34	coefficient	coefficient	NOUN
gujaf-441	237	35	std	std	NOUN
gujaf-441	237	36	.	.	PUNCT
gujaf-441	238	1	error	error	NOUN
gujaf-441	238	2	p	p	NOUN
gujaf-441	238	3	-	-	PUNCT
gujaf-441	238	4	value	value	NOUN
gujaf-441	238	5	intercept	intercept	NOUN
gujaf-441	238	6	0.316	0.316	NUM
gujaf-441	238	7	0.041	0.041	NUM
gujaf-441	238	8	0.000	0.000	NUM
gujaf-441	238	9	profitability	profitability	NOUN
gujaf-441	238	10	0.657	0.657	NUM
gujaf-441	238	11	0.080	0.080	NUM
gujaf-441	238	12	0.000	0.000	NUM
gujaf-441	238	13	firm_size	firm_size	NOUN
gujaf-441	238	14	-0.202	-0.202	NOUN
gujaf-441	238	15	0.003	0.003	NUM
gujaf-441	238	16	0.000	0.000	NUM
gujaf-441	238	17	tangibility	tangibility	NOUN
gujaf-441	238	18	0.392	0.392	NUM
gujaf-441	238	19	0.009	0.009	NUM
gujaf-441	238	20	0.000	0.000	NUM
gujaf-441	238	21	growth	growth	NOUN
gujaf-441	238	22	0.120	0.120	NUM
gujaf-441	238	23	0.015	0.015	NUM
gujaf-441	238	24	0.000	0.000	NUM
gujaf-441	238	25	inflation	inflation	NOUN
gujaf-441	238	26	0.053	0.053	NUM
gujaf-441	238	27	0.002	0.002	NUM
gujaf-441	238	28	0.000	0.000	NUM
gujaf-441	238	29	gdp_growth	gdp_growth	NOUN
gujaf-441	238	30	-0.031	-0.031	PUNCT
gujaf-441	238	31	0.012	0.012	NUM
gujaf-441	238	32	0.008	0.008	NUM
gujaf-441	238	33	interest_rate	interest_rate	NOUN
gujaf-441	238	34	-0.019	-0.019	PROPN
gujaf-441	238	35	0.000	0.000	NUM
gujaf-441	238	36	0.000	0.000	NUM
gujaf-441	238	37	institutional_quality	institutional_quality	NOUN
gujaf-441	238	38	0.165	0.165	NUM
gujaf-441	238	39	0.015	0.015	NUM
gujaf-441	238	40	0.000	0.000	NUM
gujaf-441	238	41	profit_inflation	profit_inflation	NOUN
gujaf-441	238	42	-0.028	-0.028	NOUN
gujaf-441	238	43	0.015	0.015	NUM
gujaf-441	238	44	0.056	0.056	NUM
gujaf-441	238	45	size_gdp	size_gdp	NUM
gujaf-441	238	46	0.000	0.000	NUM
gujaf-441	238	47	0.001	0.001	NUM
gujaf-441	238	48	0.964	0.964	NUM
gujaf-441	238	49	source	source	NOUN
gujaf-441	238	50	:	:	PUNCT
gujaf-441	238	51	author	author	NOUN
gujaf-441	238	52	(	(	PUNCT
gujaf-441	238	53	2024	2024	NUM
gujaf-441	238	54	)	)	PUNCT
gujaf-441	238	55	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	238	56	,	,	PUNCT
gujaf-441	238	57	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	238	58	the	the	DET
gujaf-441	238	59	quantile	quantile	ADJ
gujaf-441	238	60	regression	regression	NOUN
gujaf-441	238	61	results	result	NOUN
gujaf-441	238	62	enrich	enrich	VERB
gujaf-441	238	63	the	the	DET
gujaf-441	238	64	understanding	understanding	NOUN
gujaf-441	238	65	of	of	ADP
gujaf-441	238	66	the	the	DET
gujaf-441	238	67	capital	capital	NOUN
gujaf-441	238	68	structure	structure	NOUN
gujaf-441	238	69	determinants	determinant	NOUN
gujaf-441	238	70	by	by	ADP
gujaf-441	238	71	highlighting	highlight	VERB
gujaf-441	238	72	the	the	DET
gujaf-441	238	73	heterogeneity	heterogeneity	NOUN
gujaf-441	238	74	of	of	ADP
gujaf-441	238	75	covariate	covariate	ADJ
gujaf-441	238	76	effects	effect	NOUN
gujaf-441	238	77	across	across	ADP
gujaf-441	238	78	the	the	DET
gujaf-441	238	79	leverage	leverage	NOUN
gujaf-441	238	80	distribution	distribution	NOUN
gujaf-441	238	81	.	.	PUNCT
gujaf-441	239	1	while	while	SCONJ
gujaf-441	239	2	the	the	DET
gujaf-441	239	3	magnitude	magnitude	NOUN
gujaf-441	239	4	of	of	ADP
gujaf-441	239	5	coefficients	coefficient	NOUN
gujaf-441	239	6	for	for	ADP
gujaf-441	239	7	key	key	ADJ
gujaf-441	239	8	variables	variable	NOUN
gujaf-441	239	9	such	such	ADJ
gujaf-441	239	10	as	as	ADP
gujaf-441	239	11	profitability	profitability	NOUN
gujaf-441	239	12	,	,	PUNCT
gujaf-441	239	13	firm	firm	ADJ
gujaf-441	239	14	size	size	NOUN
gujaf-441	239	15	,	,	PUNCT
gujaf-441	239	16	and	and	CCONJ
gujaf-441	239	17	tangibility	tangibility	NOUN
gujaf-441	239	18	gradually	gradually	ADV
gujaf-441	239	19	changes	change	VERB
gujaf-441	239	20	across	across	ADP
gujaf-441	239	21	quantiles	quantile	NOUN
gujaf-441	239	22	,	,	PUNCT
gujaf-441	239	23	the	the	DET
gujaf-441	239	24	direction	direction	NOUN
gujaf-441	239	25	of	of	ADP
gujaf-441	239	26	these	these	DET
gujaf-441	239	27	relationships	relationship	NOUN
gujaf-441	239	28	remains	remain	VERB
gujaf-441	239	29	consistent	consistent	ADJ
gujaf-441	239	30	.	.	PUNCT
gujaf-441	240	1	this	this	PRON
gujaf-441	240	2	suggests	suggest	VERB
gujaf-441	240	3	that	that	SCONJ
gujaf-441	240	4	while	while	SCONJ
gujaf-441	240	5	the	the	DET
gujaf-441	240	6	strength	strength	NOUN
gujaf-441	240	7	of	of	ADP
gujaf-441	240	8	influence	influence	NOUN
gujaf-441	240	9	varies	vary	VERB
gujaf-441	240	10	,	,	PUNCT
gujaf-441	240	11	the	the	DET
gujaf-441	240	12	fundamental	fundamental	ADJ
gujaf-441	240	13	economic	economic	ADJ
gujaf-441	240	14	mechanisms	mechanism	NOUN
gujaf-441	240	15	driving	drive	VERB
gujaf-441	240	16	capital	capital	NOUN
gujaf-441	240	17	structure	structure	NOUN
gujaf-441	240	18	decisions	decision	NOUN
gujaf-441	240	19	are	be	AUX
gujaf-441	240	20	broadly	broadly	ADV
gujaf-441	240	21	uniform	uniform	ADJ
gujaf-441	240	22	across	across	ADP
gujaf-441	240	23	firms	firm	NOUN
gujaf-441	240	24	with	with	ADP
gujaf-441	240	25	low	low	ADJ
gujaf-441	240	26	,	,	PUNCT
gujaf-441	240	27	median	median	ADJ
gujaf-441	240	28	,	,	PUNCT
gujaf-441	240	29	and	and	CCONJ
gujaf-441	240	30	high	high	ADJ
gujaf-441	240	31	leverage	leverage	NOUN
gujaf-441	240	32	levels	level	NOUN
gujaf-441	240	33	.	.	PUNCT
gujaf-441	241	1	such	such	ADJ
gujaf-441	241	2	evidence	evidence	NOUN
gujaf-441	241	3	underscores	underscore	VERB
gujaf-441	241	4	the	the	DET
gujaf-441	241	5	importance	importance	NOUN
gujaf-441	241	6	of	of	ADP
gujaf-441	241	7	distributional	distributional	ADJ
gujaf-441	241	8	analyses	analysis	NOUN
gujaf-441	241	9	in	in	ADP
gujaf-441	241	10	corporate	corporate	ADJ
gujaf-441	241	11	finance	finance	NOUN
gujaf-441	241	12	research	research	NOUN
gujaf-441	241	13	,	,	PUNCT
gujaf-441	241	14	as	as	SCONJ
gujaf-441	241	15	reliance	reliance	NOUN
gujaf-441	241	16	on	on	ADP
gujaf-441	241	17	mean	mean	ADJ
gujaf-441	241	18	effects	effect	NOUN
gujaf-441	241	19	alone	alone	ADV
gujaf-441	241	20	may	may	AUX
gujaf-441	241	21	obscure	obscure	VERB
gujaf-441	241	22	important	important	ADJ
gujaf-441	241	23	nuances	nuance	NOUN
gujaf-441	241	24	(	(	PUNCT
gujaf-441	241	25	chen	chen	PROPN
gujaf-441	241	26	et	et	PROPN
gujaf-441	241	27	al	al	PROPN
gujaf-441	241	28	.	.	PROPN
gujaf-441	241	29	,	,	PUNCT
gujaf-441	241	30	2021	2021	NUM
gujaf-441	241	31	;	;	PUNCT
gujaf-441	241	32	ahmed	ahmed	PROPN
gujaf-441	241	33	&	&	CCONJ
gujaf-441	241	34	naqvi	naqvi	NOUN
gujaf-441	241	35	,	,	PUNCT
gujaf-441	241	36	2021	2021	NUM
gujaf-441	241	37	)	)	PUNCT
gujaf-441	241	38	.	.	PUNCT
gujaf-441	242	1	table7	table7	PROPN
gujaf-441	242	2	:	:	PUNCT
gujaf-441	243	1	quantileregression	quantileregression	PROPN
gujaf-441	243	2	variable	variable	ADJ
gujaf-441	243	3	0.25	0.25	NUM
gujaf-441	243	4	quantile	quantile	ADJ
gujaf-441	243	5	coef	coef	PROPN
gujaf-441	243	6	.	.	PUNCT
gujaf-441	244	1	std	std	NOUN
gujaf-441	244	2	.	.	NOUN
gujaf-441	244	3	error	error	NOUN
gujaf-441	244	4	p	p	NOUN
gujaf-441	244	5	value	value	NOUN
gujaf-441	244	6	0.50	0.50	NUM
gujaf-441	244	7	quantile	quantile	PROPN
gujaf-441	244	8	coef	coef	PROPN
gujaf-441	244	9	.	.	PUNCT
gujaf-441	245	1	std	std	NOUN
gujaf-441	245	2	.	.	NOUN
gujaf-441	245	3	error	error	NOUN
gujaf-441	245	4	p	p	NOUN
gujaf-441	245	5	value	value	NOUN
gujaf-441	245	6	0.75	0.75	NUM
gujaf-441	245	7	quantile	quantile	ADJ
gujaf-441	245	8	coef	coef	PROPN
gujaf-441	245	9	.	.	PUNCT
gujaf-441	246	1	std	std	NOUN
gujaf-441	246	2	.	.	NOUN
gujaf-441	246	3	error	error	NOUN
gujaf-441	246	4	p	p	NOUN
gujaf-441	246	5	value	value	NOUN
gujaf-441	246	6	intercept	intercept	VERB
gujaf-441	246	7	0.350	0.350	NUM
gujaf-441	246	8	0.045	0.045	NUM
gujaf-441	246	9	0.000	0.000	NUM
gujaf-441	246	10	0.320	0.320	NUM
gujaf-441	246	11	0.038	0.038	NUM
gujaf-441	246	12	0.000	0.000	NUM
gujaf-441	246	13	0.290	0.290	NUM
gujaf-441	246	14	0.042	0.042	NUM
gujaf-441	246	15	0.000	0.000	NUM
gujaf-441	246	16	profitability	profitability	NOUN
gujaf-441	246	17	0.600	0.600	NUM
gujaf-441	246	18	0.070	0.070	NUM
gujaf-441	246	19	0.000	0.000	NUM
gujaf-441	246	20	0.550	0.550	NUM
gujaf-441	246	21	0.065	0.065	NUM
gujaf-441	246	22	0.000	0.000	NUM
gujaf-441	246	23	0.500	0.500	NUM
gujaf-441	246	24	0.068	0.068	NUM
gujaf-441	246	25	0.000	0.000	NUM
gujaf-441	246	26	firm_size	firm_size	NOUN
gujaf-441	246	27	-0.210	-0.210	NOUN
gujaf-441	246	28	0.005	0.005	NUM
gujaf-441	246	29	0.000	0.000	NUM
gujaf-441	246	30	-0.200	-0.200	NUM
gujaf-441	247	1	0.004	0.004	NUM
gujaf-441	247	2	0.000	0.000	NUM
gujaf-441	247	3	-0.190	-0.190	NUM
gujaf-441	247	4	0.005	0.005	NUM
gujaf-441	247	5	0.000	0.000	NUM
gujaf-441	247	6	tangibility	tangibility	NOUN
gujaf-441	247	7	0.400	0.400	NUM
gujaf-441	247	8	0.010	0.010	NUM
gujaf-441	247	9	0.000	0.000	NUM
gujaf-441	247	10	0.390	0.390	NUM
gujaf-441	247	11	0.009	0.009	NUM
gujaf-441	247	12	0.000	0.000	NUM
gujaf-441	247	13	0.380	0.380	NUM
gujaf-441	247	14	0.010	0.010	NUM
gujaf-441	247	15	0.000	0.000	NUM
gujaf-441	247	16	growth	growth	NOUN
gujaf-441	247	17	0.130	0.130	NUM
gujaf-441	247	18	0.020	0.020	NUM
gujaf-441	247	19	0.000	0.000	NUM
gujaf-441	247	20	0.120	0.120	NUM
gujaf-441	247	21	0.018	0.018	NUM
gujaf-441	247	22	0.000	0.000	NUM
gujaf-441	247	23	0.110	0.110	NUM
gujaf-441	247	24	0.019	0.019	NUM
gujaf-441	247	25	0.000	0.000	NUM
gujaf-441	247	26	inflation	inflation	NOUN
gujaf-441	247	27	0.060	0.060	NUM
gujaf-441	247	28	0.003	0.003	NUM
gujaf-441	247	29	0.000	0.000	NUM
gujaf-441	247	30	0.050	0.050	NUM
gujaf-441	247	31	0.002	0.002	NUM
gujaf-441	247	32	0.000	0.000	NUM
gujaf-441	247	33	0.040	0.040	NUM
gujaf-441	247	34	0.003	0.003	NUM
gujaf-441	247	35	0.000	0.000	NUM
gujaf-441	247	36	gdp_growth	gdp_growth	NOUN
gujaf-441	247	37	-0.035	-0.035	NOUN
gujaf-441	247	38	0.015	0.015	NUM
gujaf-441	247	39	0.020	0.020	NUM
gujaf-441	247	40	-0.030	-0.030	NUM
gujaf-441	247	41	0.014	0.014	NUM
gujaf-441	247	42	0.025	0.025	NUM
gujaf-441	247	43	-0.025	-0.025	PROPN
gujaf-441	247	44	0.014	0.014	NUM
gujaf-441	247	45	0.070	0.070	NUM
gujaf-441	247	46	interest_rate	interest_rate	PROPN
gujaf-441	247	47	-0.022	-0.022	PROPN
gujaf-441	247	48	0.001	0.001	NUM
gujaf-441	247	49	0.000	0.000	NUM
gujaf-441	247	50	-0.020	-0.020	NUM
gujaf-441	247	51	0.001	0.001	NUM
gujaf-441	247	52	0.000	0.000	NUM
gujaf-441	247	53	-0.018	-0.018	NUM
gujaf-441	247	54	0.001	0.001	NUM
gujaf-441	247	55	0.000	0.000	NUM
gujaf-441	247	56	institutional_quality	institutional_quality	NOUN
gujaf-441	247	57	0.180	0.180	NUM
gujaf-441	247	58	0.020	0.020	NUM
gujaf-441	247	59	0.000	0.000	NUM
gujaf-441	247	60	0.170	0.170	NUM
gujaf-441	247	61	0.018	0.018	NUM
gujaf-441	247	62	0.000	0.000	NUM
gujaf-441	247	63	0.160	0.160	NUM
gujaf-441	247	64	0.019	0.019	NUM
gujaf-441	247	65	0.000	0.000	NUM
gujaf-441	247	66	source	source	NOUN
gujaf-441	247	67	:	:	PUNCT
gujaf-441	247	68	author	author	NOUN
gujaf-441	247	69	(	(	PUNCT
gujaf-441	247	70	2024	2024	NUM
gujaf-441	247	71	)	)	PUNCT
gujaf-441	247	72	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	247	73	,	,	PUNCT
gujaf-441	247	74	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	247	75	note	note	NOUN
gujaf-441	247	76	:	:	PUNCT
gujaf-441	247	77	the	the	DET
gujaf-441	247	78	residual	residual	ADJ
gujaf-441	247	79	diagnostics	diagnostic	NOUN
gujaf-441	247	80	indicate	indicate	VERB
gujaf-441	247	81	generally	generally	ADV
gujaf-441	247	82	homoscedastic	homoscedastic	ADJ
gujaf-441	247	83	and	and	CCONJ
gujaf-441	247	84	approximately	approximately	ADV
gujaf-441	247	85	normally	normally	ADV
gujaf-441	247	86	distributed	distribute	VERB
gujaf-441	247	87	residuals	residual	NOUN
gujaf-441	247	88	,	,	PUNCT
gujaf-441	247	89	although	although	SCONJ
gujaf-441	247	90	slight	slight	ADJ
gujaf-441	247	91	deviations	deviation	NOUN
gujaf-441	247	92	can	can	AUX
gujaf-441	247	93	be	be	AUX
gujaf-441	247	94	observed	observe	VERB
gujaf-441	247	95	at	at	ADP
gujaf-441	247	96	extreme	extreme	ADJ
gujaf-441	247	97	fitted	fit	VERB
gujaf-441	247	98	values	value	NOUN
gujaf-441	247	99	.	.	PUNCT
gujaf-441	248	1	the	the	DET
gujaf-441	248	2	quantile	quantile	ADJ
gujaf-441	248	3	regression	regression	NOUN
gujaf-441	248	4	coefficient	coefficient	NOUN
gujaf-441	248	5	plot	plot	NOUN
gujaf-441	248	6	highlights	highlight	NOUN
gujaf-441	248	7	heterogeneous	heterogeneous	ADJ
gujaf-441	248	8	effects	effect	NOUN
gujaf-441	248	9	of	of	ADP
gujaf-441	248	10	key	key	ADJ
gujaf-441	248	11	determinants	determinant	NOUN
gujaf-441	248	12	of	of	ADP
gujaf-441	248	13	capital	capital	NOUN
gujaf-441	248	14	structure	structure	NOUN
gujaf-441	248	15	across	across	ADP
gujaf-441	248	16	the	the	DET
gujaf-441	248	17	conditional	conditional	ADJ
gujaf-441	248	18	leverage	leverage	NOUN
gujaf-441	248	19	distribution	distribution	NOUN
gujaf-441	248	20	,	,	PUNCT
gujaf-441	248	21	where	where	SCONJ
gujaf-441	248	22	variables	variable	NOUN
gujaf-441	248	23	such	such	ADJ
gujaf-441	248	24	as	as	ADP
gujaf-441	248	25	profitability	profitability	NOUN
gujaf-441	248	26	and	and	CCONJ
gujaf-441	248	27	firm	firm	ADJ
gujaf-441	248	28	size	size	NOUN
gujaf-441	248	29	exhibit	exhibit	AUX
gujaf-441	248	30	diminishing	diminish	VERB
gujaf-441	248	31	marginal	marginal	ADJ
gujaf-441	248	32	influence	influence	NOUN
gujaf-441	248	33	at	at	ADP
gujaf-441	248	34	higher	high	ADJ
gujaf-441	248	35	quantiles	quantile	NOUN
gujaf-441	248	36	.	.	PUNCT
gujaf-441	249	1	source	source	NOUN
gujaf-441	249	2	:	:	PUNCT
gujaf-441	249	3	author(2024	author(2024	NUM
gujaf-441	249	4	)	)	PUNCT
gujaf-441	249	5	hypotheses	hypothesis	NOUN
gujaf-441	249	6	evaluations	evaluation	VERB
gujaf-441	249	7	the	the	DET
gujaf-441	249	8	empirical	empirical	ADJ
gujaf-441	249	9	findings	finding	NOUN
gujaf-441	249	10	provide	provide	VERB
gujaf-441	249	11	robust	robust	ADJ
gujaf-441	249	12	support	support	NOUN
gujaf-441	249	13	for	for	ADP
gujaf-441	249	14	the	the	DET
gujaf-441	249	15	hypothesised	hypothesised	ADJ
gujaf-441	249	16	positive	positive	ADJ
gujaf-441	249	17	association	association	NOUN
gujaf-441	249	18	between	between	ADP
gujaf-441	249	19	profitability	profitability	NOUN
gujaf-441	249	20	and	and	CCONJ
gujaf-441	249	21	leverage	leverage	NOUN
gujaf-441	249	22	.	.	PUNCT
gujaf-441	250	1	across	across	ADP
gujaf-441	250	2	ols	ol	NOUN
gujaf-441	250	3	,	,	PUNCT
gujaf-441	250	4	sensitivity	sensitivity	NOUN
gujaf-441	250	5	,	,	PUNCT
gujaf-441	250	6	and	and	CCONJ
gujaf-441	250	7	quantile	quantile	ADJ
gujaf-441	250	8	regression	regression	NOUN
gujaf-441	250	9	estimations	estimation	NOUN
gujaf-441	250	10	,	,	PUNCT
gujaf-441	250	11	profitability	profitability	NOUN
gujaf-441	250	12	consistently	consistently	ADV
gujaf-441	250	13	exerts	exert	VERB
gujaf-441	250	14	a	a	DET
gujaf-441	250	15	statistically	statistically	ADV
gujaf-441	250	16	significant	significant	ADJ
gujaf-441	250	17	positive	positive	ADJ
gujaf-441	250	18	effect	effect	NOUN
gujaf-441	250	19	on	on	ADP
gujaf-441	250	20	leverage	leverage	NOUN
gujaf-441	250	21	(	(	PUNCT
gujaf-441	250	22	e.g.	e.g.	ADV
gujaf-441	250	23	,	,	PUNCT
gujaf-441	250	24	ols	ol	NOUN
gujaf-441	250	25	:	:	PUNCT
gujaf-441	250	26	0.514	0.514	NUM
gujaf-441	250	27	,	,	PUNCT
gujaf-441	250	28	p	p	X
gujaf-441	250	29	<	<	X
gujaf-441	250	30	0.01	0.01	NUM
gujaf-441	250	31	;	;	PUNCT
gujaf-441	250	32	quantile	quantile	VERB
gujaf-441	250	33	0.25	0.25	NUM
gujaf-441	250	34	:	:	PUNCT
gujaf-441	250	35	0.600	0.600	NUM
gujaf-441	250	36	,	,	PUNCT
gujaf-441	250	37	p	p	X
gujaf-441	250	38	<	<	X
gujaf-441	250	39	0.01	0.01	NUM
gujaf-441	250	40	)	)	PUNCT
gujaf-441	250	41	.	.	PUNCT
gujaf-441	251	1	this	this	PRON
gujaf-441	251	2	outcomechallenges	outcomechallenge	VERB
gujaf-441	251	3	the	the	DET
gujaf-441	251	4	traditional	traditional	ADJ
gujaf-441	251	5	pecking	pecking	NOUN
gujaf-441	251	6	order	order	NOUN
gujaf-441	251	7	theory	theory	NOUN
gujaf-441	251	8	,	,	PUNCT
gujaf-441	251	9	which	which	PRON
gujaf-441	251	10	predicts	predict	VERB
gujaf-441	251	11	that	that	SCONJ
gujaf-441	251	12	profitable	profitable	ADJ
gujaf-441	251	13	firms	firm	NOUN
gujaf-441	251	14	prefer	prefer	VERB
gujaf-441	251	15	internal	internal	ADJ
gujaf-441	251	16	financing	financing	NOUN
gujaf-441	251	17	to	to	PART
gujaf-441	251	18	avoid	avoid	VERB
gujaf-441	251	19	the	the	DET
gujaf-441	251	20	costs	cost	NOUN
gujaf-441	251	21	of	of	ADP
gujaf-441	251	22	external	external	ADJ
gujaf-441	251	23	funds	fund	NOUN
gujaf-441	251	24	(	(	PUNCT
gujaf-441	251	25	myers	myers	PROPN
gujaf-441	251	26	&	&	CCONJ
gujaf-441	251	27	majluf	majluf	PROPN
gujaf-441	251	28	,	,	PUNCT
gujaf-441	251	29	1984	1984	NUM
gujaf-441	251	30	)	)	PUNCT
gujaf-441	251	31	.	.	PUNCT
gujaf-441	252	1	the	the	DET
gujaf-441	252	2	observed	observe	VERB
gujaf-441	252	3	positive	positive	ADJ
gujaf-441	252	4	relationship	relationship	NOUN
gujaf-441	252	5	may	may	AUX
gujaf-441	252	6	instead	instead	ADV
gujaf-441	252	7	reflect	reflect	VERB
gujaf-441	252	8	contexts	contexts	NOUN
gujaf-441	252	9	where	where	SCONJ
gujaf-441	252	10	profitable	profitable	ADJ
gujaf-441	252	11	firms	firm	NOUN
gujaf-441	252	12	actively	actively	ADV
gujaf-441	252	13	use	use	VERB
gujaf-441	252	14	debt	debt	NOUN
gujaf-441	252	15	to	to	PART
gujaf-441	252	16	benefit	benefit	VERB
gujaf-441	252	17	from	from	ADP
gujaf-441	252	18	tax	tax	NOUN
gujaf-441	252	19	shields	shield	NOUN
gujaf-441	252	20	,	,	PUNCT
gujaf-441	252	21	or	or	CCONJ
gujaf-441	252	22	where	where	SCONJ
gujaf-441	252	23	high	high	ADJ
gujaf-441	252	24	profitability	profitability	NOUN
gujaf-441	252	25	signals	signal	VERB
gujaf-441	252	26	financial	financial	ADJ
gujaf-441	252	27	strength	strength	NOUN
gujaf-441	252	28	that	that	PRON
gujaf-441	252	29	reassures	reassure	VERB
gujaf-441	252	30	lenders	lender	NOUN
gujaf-441	252	31	(	(	PUNCT
gujaf-441	252	32	chen	chen	PROPN
gujaf-441	252	33	et	et	PROPN
gujaf-441	252	34	al	al	PROPN
gujaf-441	252	35	.	.	PROPN
gujaf-441	252	36	,	,	PUNCT
gujaf-441	252	37	2021	2021	NUM
gujaf-441	252	38	)	)	PUNCT
gujaf-441	252	39	.	.	PUNCT
gujaf-441	253	1	similar	similar	ADJ
gujaf-441	253	2	patterns	pattern	NOUN
gujaf-441	253	3	have	have	AUX
gujaf-441	253	4	been	be	AUX
gujaf-441	253	5	noted	note	VERB
gujaf-441	253	6	in	in	ADP
gujaf-441	253	7	emerging	emerge	VERB
gujaf-441	253	8	markets	market	NOUN
gujaf-441	253	9	,	,	PUNCT
gujaf-441	253	10	where	where	SCONJ
gujaf-441	253	11	capital	capital	NOUN
gujaf-441	253	12	market	market	NOUN
gujaf-441	253	13	imperfections	imperfection	NOUN
gujaf-441	253	14	and	and	CCONJ
gujaf-441	253	15	institutional	institutional	ADJ
gujaf-441	253	16	structures	structure	NOUN
gujaf-441	253	17	can	can	AUX
gujaf-441	253	18	alter	alter	VERB
gujaf-441	253	19	the	the	DET
gujaf-441	253	20	classical	classical	ADJ
gujaf-441	253	21	link	link	NOUN
gujaf-441	253	22	between	between	ADP
gujaf-441	253	23	profitability	profitability	NOUN
gujaf-441	253	24	and	and	CCONJ
gujaf-441	253	25	leverage	leverage	NOUN
gujaf-441	253	26	(	(	PUNCT
gujaf-441	253	27	kumar	kumar	PROPN
gujaf-441	253	28	&	&	CCONJ
gujaf-441	253	29	bansal	bansal	PROPN
gujaf-441	253	30	,	,	PUNCT
gujaf-441	253	31	2023	2023	NUM
gujaf-441	253	32	)	)	PUNCT
gujaf-441	253	33	.	.	PUNCT
gujaf-441	254	1	firm	firm	ADJ
gujaf-441	254	2	size	size	NOUN
gujaf-441	254	3	was	be	AUX
gujaf-441	254	4	hypothesised	hypothesise	VERB
gujaf-441	254	5	to	to	PART
gujaf-441	254	6	be	be	AUX
gujaf-441	254	7	negatively	negatively	ADV
gujaf-441	254	8	associated	associate	VERB
gujaf-441	254	9	with	with	ADP
gujaf-441	254	10	leverage	leverage	NOUN
gujaf-441	254	11	,	,	PUNCT
gujaf-441	254	12	in	in	ADP
gujaf-441	254	13	line	line	NOUN
gujaf-441	254	14	with	with	ADP
gujaf-441	254	15	expectations	expectation	NOUN
gujaf-441	254	16	that	that	SCONJ
gujaf-441	254	17	larger	large	ADJ
gujaf-441	254	18	firms	firm	NOUN
gujaf-441	254	19	have	have	AUX
gujaf-441	254	20	more	more	ADJ
gujaf-441	254	21	internal	internal	ADJ
gujaf-441	254	22	resources	resource	NOUN
gujaf-441	254	23	and	and	CCONJ
gujaf-441	254	24	better	well	ADJ
gujaf-441	254	25	access	access	NOUN
gujaf-441	254	26	to	to	ADP
gujaf-441	254	27	equity	equity	NOUN
gujaf-441	254	28	financing	financing	NOUN
gujaf-441	254	29	.	.	PUNCT
gujaf-441	255	1	the	the	DET
gujaf-441	255	2	findings	finding	NOUN
gujaf-441	255	3	are	be	AUX
gujaf-441	255	4	strongly	strongly	ADV
gujaf-441	255	5	consistent	consistent	ADJ
gujaf-441	255	6	with	with	ADP
gujaf-441	255	7	this	this	DET
gujaf-441	255	8	hypothesis	hypothesis	NOUN
gujaf-441	255	9	:	:	PUNCT
gujaf-441	255	10	firm	firm	ADJ
gujaf-441	255	11	size	size	NOUN
gujaf-441	255	12	shows	show	VERB
gujaf-441	255	13	a	a	DET
gujaf-441	255	14	significant	significant	ADJ
gujaf-441	255	15	negative	negative	ADJ
gujaf-441	255	16	effect	effect	NOUN
gujaf-441	255	17	in	in	ADP
gujaf-441	255	18	all	all	DET
gujaf-441	255	19	models	model	NOUN
gujaf-441	255	20	(	(	PUNCT
gujaf-441	255	21	e.g.	e.g.	ADV
gujaf-441	255	22	,	,	PUNCT
gujaf-441	255	23	ols	ol	NOUN
gujaf-441	255	24	:	:	PUNCT
gujaf-441	255	25	−0.202	−0.202	PROPN
gujaf-441	255	26	,	,	PUNCT
gujaf-441	255	27	p	p	X
gujaf-441	255	28	<	<	X
gujaf-441	255	29	0.01	0.01	NUM
gujaf-441	255	30	;	;	PUNCT
gujaf-441	255	31	quantile	quantile	VERB
gujaf-441	255	32	0.25	0.25	NUM
gujaf-441	255	33	:	:	PUNCT
gujaf-441	255	34	−0.210,p	−0.210,p	VERB
gujaf-441	255	35	<	<	X
gujaf-441	255	36	0.01	0.01	NUM
gujaf-441	255	37	)	)	PUNCT
gujaf-441	255	38	.	.	PUNCT
gujaf-441	256	1	the	the	DET
gujaf-441	256	2	large	large	ADJ
gujaf-441	256	3	negative	negative	ADJ
gujaf-441	256	4	correlation	correlation	NOUN
gujaf-441	256	5	(	(	PUNCT
gujaf-441	256	6	−0.760	−0.760	NOUN
gujaf-441	256	7	)	)	PUNCT
gujaf-441	256	8	between	between	ADP
gujaf-441	256	9	size	size	NOUN
gujaf-441	256	10	and	and	CCONJ
gujaf-441	256	11	leverage	leverage	NOUN
gujaf-441	256	12	further	far	ADV
gujaf-441	256	13	underscores	underscore	VERB
gujaf-441	256	14	this	this	DET
gujaf-441	256	15	relationship	relationship	NOUN
gujaf-441	256	16	.	.	PUNCT
gujaf-441	257	1	this	this	DET
gujaf-441	257	2	result	result	NOUN
gujaf-441	257	3	aligns	align	VERB
gujaf-441	257	4	with	with	ADP
gujaf-441	257	5	the	the	DET
gujaf-441	257	6	view	view	NOUN
gujaf-441	257	7	that	that	SCONJ
gujaf-441	257	8	larger	large	ADJ
gujaf-441	257	9	firms	firm	NOUN
gujaf-441	257	10	may	may	AUX
gujaf-441	257	11	avoid	avoid	VERB
gujaf-441	257	12	excessive	excessive	ADJ
gujaf-441	257	13	leverage	leverage	NOUN
gujaf-441	257	14	due	due	ADP
gujaf-441	257	15	to	to	ADP
gujaf-441	257	16	their	their	PRON
gujaf-441	257	17	enhanced	enhance	VERB
gujaf-441	257	18	capacity	capacity	NOUN
gujaf-441	257	19	to	to	PART
gujaf-441	257	20	generate	generate	VERB
gujaf-441	257	21	retained	retain	VERB
gujaf-441	257	22	earnings	earning	NOUN
gujaf-441	257	23	or	or	CCONJ
gujaf-441	257	24	issueequity	issueequity	NOUN
gujaf-441	257	25	on	on	ADP
gujaf-441	257	26	favourable	favourable	ADJ
gujaf-441	257	27	terms	term	NOUN
gujaf-441	257	28	(	(	PUNCT
gujaf-441	257	29	singh	singh	PROPN
gujaf-441	257	30	&	&	CCONJ
gujaf-441	257	31	sharma	sharma	PROPN
gujaf-441	257	32	,	,	PUNCT
gujaf-441	257	33	2021	2021	NUM
gujaf-441	257	34	)	)	PUNCT
gujaf-441	257	35	.	.	PUNCT
gujaf-441	258	1	moreover	moreover	ADV
gujaf-441	258	2	,	,	PUNCT
gujaf-441	258	3	larger	large	ADJ
gujaf-441	258	4	firms	firm	NOUN
gujaf-441	258	5	may	may	AUX
gujaf-441	258	6	also	also	ADV
gujaf-441	258	7	adopt	adopt	VERB
gujaf-441	258	8	more	more	ADV
gujaf-441	258	9	conservative	conservative	ADJ
gujaf-441	258	10	capital	capital	NOUN
gujaf-441	258	11	structures	structure	NOUN
gujaf-441	258	12	to	to	PART
gujaf-441	258	13	preserve	preserve	VERB
gujaf-441	258	14	credit	credit	NOUN
gujaf-441	258	15	ratings	rating	NOUN
gujaf-441	258	16	and	and	CCONJ
gujaf-441	258	17	limit	limit	VERB
gujaf-441	258	18	financial	financial	ADJ
gujaf-441	258	19	riskexposure	riskexposure	NOUN
gujaf-441	258	20	(	(	PUNCT
gujaf-441	258	21	zou	zou	X
gujaf-441	258	22	et	et	PROPN
gujaf-441	258	23	al	al	PROPN
gujaf-441	258	24	.	.	PROPN
gujaf-441	258	25	,	,	PUNCT
gujaf-441	258	26	2022	2022	NUM
gujaf-441	258	27	)	)	PUNCT
gujaf-441	258	28	.	.	PUNCT
gujaf-441	259	1	thehypothesis	thehypothesis	NOUN
gujaf-441	259	2	regardingthepositiveimpactofassettangibilityon	regardingthepositiveimpactofassettangibilityon	NOUN
gujaf-441	259	3	leverageisalso	leverageisalso	ADV
gujaf-441	259	4	supported	support	VERB
gujaf-441	259	5	bythe	bythe	ADP
gujaf-441	259	6	empirical	empirical	ADJ
gujaf-441	259	7	results	result	NOUN
gujaf-441	259	8	.	.	PUNCT
gujaf-441	260	1	tangibility	tangibility	NOUN
gujaf-441	260	2	exhibits	exhibit	VERB
gujaf-441	260	3	a	a	DET
gujaf-441	260	4	positive	positive	ADJ
gujaf-441	260	5	and	and	CCONJ
gujaf-441	260	6	statistically	statistically	ADV
gujaf-441	260	7	significant	significant	ADJ
gujaf-441	260	8	coefficient	coefficient	NOUN
gujaf-441	260	9	in	in	ADP
gujaf-441	260	10	the	the	DET
gujaf-441	260	11	ols	ol	NOUN
gujaf-441	260	12	model	model	NOUN
gujaf-441	260	13	(	(	PUNCT
gujaf-441	260	14	0.391	0.391	NUM
gujaf-441	260	15	,	,	PUNCT
gujaf-441	260	16	p	p	X
gujaf-441	260	17	<	<	X
gujaf-441	260	18	0.01	0.01	NUM
gujaf-441	260	19	)	)	PUNCT
gujaf-441	260	20	and	and	CCONJ
gujaf-441	260	21	across	across	ADP
gujaf-441	260	22	quantile	quantile	ADJ
gujaf-441	260	23	regressions	regression	NOUN
gujaf-441	260	24	(	(	PUNCT
gujaf-441	260	25	e.g.	e.g.	ADV
gujaf-441	260	26	,	,	PUNCT
gujaf-441	260	27	0.400	0.400	NUM
gujaf-441	260	28	at	at	ADP
gujaf-441	260	29	the	the	DET
gujaf-441	260	30	0.25	0.25	NUM
gujaf-441	260	31	quantile	quantile	NOUN
gujaf-441	260	32	,	,	PUNCT
gujaf-441	260	33	p	p	X
gujaf-441	260	34	<	<	X
gujaf-441	260	35	0.01	0.01	NUM
gujaf-441	260	36	)	)	PUNCT
gujaf-441	260	37	.	.	PUNCT
gujaf-441	261	1	this	this	PRON
gujaf-441	261	2	is	be	AUX
gujaf-441	261	3	consistent	consistent	ADJ
gujaf-441	261	4	with	with	ADP
gujaf-441	261	5	theoretical	theoretical	ADJ
gujaf-441	261	6	arguments	argument	NOUN
gujaf-441	261	7	that	that	SCONJ
gujaf-441	261	8	tangible	tangible	ADJ
gujaf-441	261	9	assets	asset	NOUN
gujaf-441	261	10	serve	serve	VERB
gujaf-441	261	11	as	as	ADP
gujaf-441	261	12	valuable	valuable	ADJ
gujaf-441	261	13	collateral	collateral	NOUN
gujaf-441	261	14	,	,	PUNCT
gujaf-441	261	15	reducing	reduce	VERB
gujaf-441	261	16	lenders	lender	NOUN
gujaf-441	261	17	‘	'	PUNCT
gujaf-441	261	18	risk	risk	NOUN
gujaf-441	261	19	and	and	CCONJ
gujaf-441	261	20	enhancing	enhance	VERB
gujaf-441	261	21	borrowing	borrowing	NOUN
gujaf-441	261	22	capacity	capacity	NOUN
gujaf-441	261	23	(	(	PUNCT
gujaf-441	261	24	ahmed	ahmed	PROPN
gujaf-441	261	25	&	&	CCONJ
gujaf-441	261	26	naqvi	naqvi	NOUN
gujaf-441	261	27	,	,	PUNCT
gujaf-441	261	28	2021	2021	NUM
gujaf-441	261	29	)	)	PUNCT
gujaf-441	261	30	.	.	PUNCT
gujaf-441	262	1	the	the	DET
gujaf-441	262	2	modest	modest	ADJ
gujaf-441	262	3	positive	positive	ADJ
gujaf-441	262	4	correlation	correlation	NOUN
gujaf-441	262	5	between	between	ADP
gujaf-441	262	6	tangibility	tangibility	NOUN
gujaf-441	262	7	and	and	CCONJ
gujaf-441	262	8	leverage	leverage	NOUN
gujaf-441	262	9	(	(	PUNCT
gujaf-441	262	10	0.243	0.243	NOUN
gujaf-441	262	11	)	)	PUNCT
gujaf-441	262	12	furtherconfirmsthatfirmswithmorephysicalassetsarebetterpositionedtosecuredebt	furtherconfirmsthatfirmswithmorephysicalassetsarebetterpositionedtosecuredebt	NOUN
gujaf-441	262	13	.	.	PUNCT
gujaf-441	263	1	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	263	2	,	,	PUNCT
gujaf-441	263	3	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	263	4	433	433	NUM
gujaf-441	263	5	these	these	DET
gujaf-441	263	6	findings	finding	NOUN
gujaf-441	263	7	mirror	mirror	VERB
gujaf-441	263	8	prior	prior	ADJ
gujaf-441	263	9	evidence	evidence	NOUN
gujaf-441	263	10	from	from	ADP
gujaf-441	263	11	developing	develop	VERB
gujaf-441	263	12	economies	economy	NOUN
gujaf-441	263	13	,	,	PUNCT
gujaf-441	263	14	where	where	SCONJ
gujaf-441	263	15	collateral	collateral	ADJ
gujaf-441	263	16	value	value	NOUN
gujaf-441	263	17	is	be	AUX
gujaf-441	263	18	a	a	DET
gujaf-441	263	19	critical	critical	ADJ
gujaf-441	263	20	consideration	consideration	NOUN
gujaf-441	263	21	in	in	ADP
gujaf-441	263	22	debt	debt	NOUN
gujaf-441	263	23	contracts	contract	NOUN
gujaf-441	263	24	(	(	PUNCT
gujaf-441	263	25	boukhatem	boukhatem	PROPN
gujaf-441	263	26	&	&	CCONJ
gujaf-441	263	27	moussa	moussa	PROPN
gujaf-441	263	28	,	,	PUNCT
gujaf-441	263	29	2020	2020	NUM
gujaf-441	263	30	)	)	PUNCT
gujaf-441	263	31	.	.	PUNCT
gujaf-441	264	1	regarding	regard	VERB
gujaf-441	264	2	macroeconomic	macroeconomic	ADJ
gujaf-441	264	3	factors	factor	NOUN
gujaf-441	264	4	,	,	PUNCT
gujaf-441	264	5	the	the	DET
gujaf-441	264	6	hypothesised	hypothesised	ADJ
gujaf-441	264	7	positive	positive	ADJ
gujaf-441	264	8	relationship	relationship	NOUN
gujaf-441	264	9	between	between	ADP
gujaf-441	264	10	inflation	inflation	NOUN
gujaf-441	264	11	and	and	CCONJ
gujaf-441	264	12	leverage	leverage	NOUN
gujaf-441	264	13	finds	find	VERB
gujaf-441	264	14	strong	strong	ADJ
gujaf-441	264	15	empirical	empirical	ADJ
gujaf-441	264	16	backing	backing	NOUN
gujaf-441	264	17	.	.	PUNCT
gujaf-441	265	1	inflation	inflation	NOUN
gujaf-441	265	2	is	be	AUX
gujaf-441	265	3	positively	positively	ADV
gujaf-441	265	4	associated	associate	VERB
gujaf-441	265	5	with	with	ADP
gujaf-441	265	6	leverage	leverage	NOUN
gujaf-441	265	7	across	across	ADP
gujaf-441	265	8	all	all	DET
gujaf-441	265	9	model	model	NOUN
gujaf-441	265	10	specifications	specification	NOUN
gujaf-441	265	11	(	(	PUNCT
gujaf-441	265	12	e.g.	e.g.	ADV
gujaf-441	265	13	,	,	PUNCT
gujaf-441	265	14	ols	ol	NOUN
gujaf-441	265	15	:	:	PUNCT
gujaf-441	265	16	0.050	0.050	NUM
gujaf-441	265	17	,	,	PUNCT
gujaf-441	265	18	p	p	X
gujaf-441	265	19	<	<	X
gujaf-441	265	20	0.01	0.01	NUM
gujaf-441	265	21	)	)	PUNCT
gujaf-441	265	22	,	,	PUNCT
gujaf-441	265	23	indicating	indicate	VERB
gujaf-441	265	24	that	that	SCONJ
gujaf-441	265	25	firms	firm	NOUN
gujaf-441	265	26	may	may	AUX
gujaf-441	265	27	strategically	strategically	ADV
gujaf-441	265	28	increase	increase	VERB
gujaf-441	265	29	debt	debt	NOUN
gujaf-441	265	30	levels	level	NOUN
gujaf-441	265	31	during	during	ADP
gujaf-441	265	32	inflationary	inflationary	ADJ
gujaf-441	265	33	periods	period	NOUN
gujaf-441	265	34	to	to	PART
gujaf-441	265	35	reduce	reduce	VERB
gujaf-441	265	36	the	the	DET
gujaf-441	265	37	real	real	ADJ
gujaf-441	265	38	cost	cost	NOUN
gujaf-441	265	39	of	of	ADP
gujaf-441	265	40	debt	debt	NOUN
gujaf-441	265	41	repayments	repayment	NOUN
gujaf-441	265	42	(	(	PUNCT
gujaf-441	265	43	nnadi	nnadi	NOUN
gujaf-441	265	44	et	et	PROPN
gujaf-441	265	45	al	al	PROPN
gujaf-441	265	46	.	.	PROPN
gujaf-441	265	47	,	,	PUNCT
gujaf-441	265	48	2021	2021	NUM
gujaf-441	265	49	)	)	PUNCT
gujaf-441	265	50	.	.	PUNCT
gujaf-441	266	1	furthermore	furthermore	ADV
gujaf-441	266	2	,	,	PUNCT
gujaf-441	266	3	the	the	DET
gujaf-441	266	4	quantile	quantile	ADJ
gujaf-441	266	5	regressions	regression	NOUN
gujaf-441	266	6	show	show	VERB
gujaf-441	266	7	that	that	SCONJ
gujaf-441	266	8	this	this	DET
gujaf-441	266	9	positive	positive	ADJ
gujaf-441	266	10	effect	effect	NOUN
gujaf-441	266	11	persists	persist	VERB
gujaf-441	266	12	across	across	ADP
gujaf-441	266	13	the	the	DET
gujaf-441	266	14	leverage	leverage	NOUN
gujaf-441	266	15	distribution	distribution	NOUN
gujaf-441	266	16	,	,	PUNCT
gujaf-441	266	17	albeit	albeit	SCONJ
gujaf-441	266	18	with	with	ADP
gujaf-441	266	19	a	a	DET
gujaf-441	266	20	slight	slight	ADJ
gujaf-441	266	21	decline	decline	NOUN
gujaf-441	266	22	in	in	ADP
gujaf-441	266	23	magnitude	magnitude	NOUN
gujaf-441	266	24	at	at	ADP
gujaf-441	266	25	higher	high	ADJ
gujaf-441	266	26	quantiles	quantile	NOUN
gujaf-441	266	27	.	.	PUNCT
gujaf-441	267	1	the	the	DET
gujaf-441	267	2	interaction	interaction	NOUN
gujaf-441	267	3	term	term	NOUN
gujaf-441	267	4	between	between	ADP
gujaf-441	267	5	profitability	profitability	NOUN
gujaf-441	267	6	and	and	CCONJ
gujaf-441	267	7	inflation	inflation	NOUN
gujaf-441	267	8	in	in	ADP
gujaf-441	267	9	the	the	DET
gujaf-441	267	10	sensitivity	sensitivity	NOUN
gujaf-441	267	11	analysis	analysis	NOUN
gujaf-441	267	12	(	(	PUNCT
gujaf-441	267	13	−0.028	−0.028	PROPN
gujaf-441	267	14	,	,	PUNCT
gujaf-441	267	15	p	p	X
gujaf-441	267	16	=	=	NOUN
gujaf-441	267	17	0.056	0.056	NUM
gujaf-441	267	18	)	)	PUNCT
gujaf-441	267	19	hints	hint	NOUN
gujaf-441	267	20	at	at	ADP
gujaf-441	267	21	a	a	DET
gujaf-441	267	22	potential	potential	ADJ
gujaf-441	267	23	moderating	moderate	VERB
gujaf-441	267	24	effect	effect	NOUN
gujaf-441	267	25	,	,	PUNCT
gujaf-441	267	26	where	where	SCONJ
gujaf-441	267	27	inflation	inflation	NOUN
gujaf-441	267	28	may	may	AUX
gujaf-441	267	29	partially	partially	ADV
gujaf-441	267	30	offset	offset	VERB
gujaf-441	267	31	the	the	DET
gujaf-441	267	32	leverage	leverage	NOUN
gujaf-441	267	33	-	-	PUNCT
gujaf-441	267	34	enhancing	enhance	VERB
gujaf-441	267	35	role	role	NOUN
gujaf-441	267	36	of	of	ADP
gujaf-441	267	37	profitability	profitability	NOUN
gujaf-441	267	38	,	,	PUNCT
gujaf-441	267	39	although	although	SCONJ
gujaf-441	267	40	this	this	DET
gujaf-441	267	41	result	result	NOUN
gujaf-441	267	42	is	be	AUX
gujaf-441	267	43	only	only	ADV
gujaf-441	267	44	marginally	marginally	ADV
gujaf-441	267	45	significant	significant	ADJ
gujaf-441	267	46	.	.	PUNCT
gujaf-441	268	1	gdp	gdp	NOUN
gujaf-441	268	2	growth	growth	NOUN
gujaf-441	268	3	was	be	AUX
gujaf-441	268	4	hypothesised	hypothesise	VERB
gujaf-441	268	5	to	to	PART
gujaf-441	268	6	negatively	negatively	ADV
gujaf-441	268	7	affect	affect	VERB
gujaf-441	268	8	leverage	leverage	NOUN
gujaf-441	268	9	,	,	PUNCT
gujaf-441	268	10	under	under	ADP
gujaf-441	268	11	the	the	DET
gujaf-441	268	12	premise	premise	NOUN
gujaf-441	268	13	that	that	SCONJ
gujaf-441	268	14	firmsmay	firmsmay	VERB
gujaf-441	268	15	rely	rely	VERB
gujaf-441	268	16	less	less	ADV
gujaf-441	268	17	on	on	ADP
gujaf-441	268	18	debt	debt	NOUN
gujaf-441	268	19	in	in	ADP
gujaf-441	268	20	strong	strong	ADJ
gujaf-441	268	21	economic	economic	ADJ
gujaf-441	268	22	conditions	condition	NOUN
gujaf-441	268	23	due	due	ADP
gujaf-441	268	24	to	to	ADP
gujaf-441	268	25	higher	high	ADJ
gujaf-441	268	26	internal	internal	ADJ
gujaf-441	268	27	cash	cash	NOUN
gujaf-441	268	28	flows	flow	NOUN
gujaf-441	268	29	.	.	PUNCT
gujaf-441	269	1	the	the	DET
gujaf-441	269	2	negative	negative	ADJ
gujaf-441	269	3	and	and	CCONJ
gujaf-441	269	4	significant	significant	ADJ
gujaf-441	269	5	coefficients	coefficient	NOUN
gujaf-441	269	6	for	for	ADP
gujaf-441	269	7	gdp	gdp	NOUN
gujaf-441	269	8	growth	growth	NOUN
gujaf-441	269	9	in	in	ADP
gujaf-441	269	10	ols	ol	NOUN
gujaf-441	269	11	(	(	PUNCT
gujaf-441	269	12	−0.030	−0.030	PROPN
gujaf-441	269	13	,	,	PUNCT
gujaf-441	269	14	p	p	X
gujaf-441	269	15	<	<	X
gujaf-441	269	16	0.01	0.01	NUM
gujaf-441	269	17	)	)	PUNCT
gujaf-441	269	18	and	and	CCONJ
gujaf-441	269	19	quantile	quantile	ADJ
gujaf-441	269	20	regressions	regression	NOUN
gujaf-441	269	21	(	(	PUNCT
gujaf-441	269	22	e.g.	e.g.	ADV
gujaf-441	269	23	,	,	PUNCT
gujaf-441	269	24	−0.035	−0.035	PROPN
gujaf-441	269	25	at	at	ADP
gujaf-441	269	26	the	the	DET
gujaf-441	269	27	0.25	0.25	NUM
gujaf-441	269	28	quantile	quantile	NOUN
gujaf-441	269	29	,	,	PUNCT
gujaf-441	269	30	p	p	X
gujaf-441	269	31	=	=	NOUN
gujaf-441	269	32	0.02	0.02	NUM
gujaf-441	269	33	)	)	PUNCT
gujaf-441	269	34	support	support	NOUN
gujaf-441	269	35	this	this	DET
gujaf-441	269	36	hypothesis	hypothesis	NOUN
gujaf-441	269	37	.	.	PUNCT
gujaf-441	270	1	this	this	PRON
gujaf-441	270	2	suggests	suggest	VERB
gujaf-441	270	3	that	that	SCONJ
gujaf-441	270	4	firms	firm	NOUN
gujaf-441	270	5	reduce	reduce	VERB
gujaf-441	270	6	leverage	leverage	NOUN
gujaf-441	270	7	as	as	SCONJ
gujaf-441	270	8	economic	economic	ADJ
gujaf-441	270	9	conditions	condition	NOUN
gujaf-441	270	10	improve	improve	VERB
gujaf-441	270	11	,	,	PUNCT
gujaf-441	270	12	consistent	consistent	ADJ
gujaf-441	270	13	with	with	ADP
gujaf-441	270	14	prior	prior	ADJ
gujaf-441	270	15	researchthat	researchthat	ADJ
gujaf-441	270	16	links	link	NOUN
gujaf-441	270	17	macroeconomic	macroeconomic	ADJ
gujaf-441	270	18	expansion	expansion	NOUN
gujaf-441	270	19	with	with	ADP
gujaf-441	270	20	greater	great	ADJ
gujaf-441	270	21	reliance	reliance	NOUN
gujaf-441	270	22	on	on	ADP
gujaf-441	270	23	internal	internal	ADJ
gujaf-441	270	24	financing	financing	NOUN
gujaf-441	270	25	(	(	PUNCT
gujaf-441	270	26	kumar	kumar	PROPN
gujaf-441	270	27	&	&	CCONJ
gujaf-441	270	28	bansal	bansal	PROPN
gujaf-441	270	29	,	,	PUNCT
gujaf-441	270	30	2023	2023	NUM
gujaf-441	270	31	)	)	PUNCT
gujaf-441	270	32	.	.	PUNCT
gujaf-441	271	1	the	the	DET
gujaf-441	271	2	insignificant	insignificant	ADJ
gujaf-441	271	3	size	size	NOUN
gujaf-441	271	4	-	-	PUNCT
gujaf-441	271	5	gdp	gdp	NOUN
gujaf-441	271	6	growth	growth	NOUN
gujaf-441	271	7	interaction	interaction	NOUN
gujaf-441	271	8	term	term	NOUN
gujaf-441	271	9	(	(	PUNCT
gujaf-441	271	10	p	p	NOUN
gujaf-441	271	11	=	=	NOUN
gujaf-441	271	12	0.964	0.964	NUM
gujaf-441	271	13	)	)	PUNCT
gujaf-441	271	14	suggests	suggest	VERB
gujaf-441	271	15	this	this	DET
gujaf-441	271	16	dynamic	dynamic	ADJ
gujaf-441	271	17	operates	operate	NOUN
gujaf-441	271	18	similarly	similarly	ADV
gujaf-441	271	19	across	across	ADP
gujaf-441	271	20	firms	firm	NOUN
gujaf-441	271	21	of	of	ADP
gujaf-441	271	22	different	different	ADJ
gujaf-441	271	23	sizes	size	NOUN
gujaf-441	271	24	.	.	PUNCT
gujaf-441	272	1	finally	finally	ADV
gujaf-441	272	2	,	,	PUNCT
gujaf-441	272	3	the	the	DET
gujaf-441	272	4	positive	positive	ADJ
gujaf-441	272	5	role	role	NOUN
gujaf-441	272	6	of	of	ADP
gujaf-441	272	7	institutional	institutional	ADJ
gujaf-441	272	8	quality	quality	NOUN
gujaf-441	272	9	on	on	ADP
gujaf-441	272	10	leverage	leverage	NOUN
gujaf-441	272	11	,	,	PUNCT
gujaf-441	272	12	as	as	SCONJ
gujaf-441	272	13	hypothesised	hypothesise	VERB
gujaf-441	272	14	,	,	PUNCT
gujaf-441	272	15	is	be	AUX
gujaf-441	272	16	validated	validate	VERB
gujaf-441	272	17	by	by	ADP
gujaf-441	272	18	the	the	DET
gujaf-441	272	19	results	result	NOUN
gujaf-441	272	20	.	.	PUNCT
gujaf-441	273	1	institutional	institutional	ADJ
gujaf-441	273	2	quality	quality	NOUN
gujaf-441	273	3	shows	show	VERB
gujaf-441	273	4	a	a	DET
gujaf-441	273	5	significant	significant	ADJ
gujaf-441	273	6	positive	positive	ADJ
gujaf-441	273	7	effect	effect	NOUN
gujaf-441	273	8	in	in	ADP
gujaf-441	273	9	ols	ol	NOUN
gujaf-441	273	10	(	(	PUNCT
gujaf-441	273	11	0.165	0.165	NUM
gujaf-441	273	12	,	,	PUNCT
gujaf-441	273	13	p	p	X
gujaf-441	273	14	<	<	X
gujaf-441	273	15	0.01	0.01	NUM
gujaf-441	273	16	)	)	PUNCT
gujaf-441	273	17	and	and	CCONJ
gujaf-441	273	18	quantile	quantile	ADJ
gujaf-441	273	19	regressions	regression	NOUN
gujaf-441	273	20	(	(	PUNCT
gujaf-441	273	21	e.g.	e.g.	ADV
gujaf-441	273	22	,	,	PUNCT
gujaf-441	273	23	0.180	0.180	NUM
gujaf-441	273	24	at	at	ADP
gujaf-441	273	25	the	the	DET
gujaf-441	273	26	0.25	0.25	NUM
gujaf-441	273	27	quantile	quantile	NOUN
gujaf-441	273	28	,	,	PUNCT
gujaf-441	273	29	p	p	X
gujaf-441	273	30	<	<	X
gujaf-441	273	31	0.01	0.01	NUM
gujaf-441	273	32	)	)	PUNCT
gujaf-441	273	33	,	,	PUNCT
gujaf-441	273	34	reinforcing	reinforce	VERB
gujaf-441	273	35	the	the	DET
gujaf-441	273	36	idea	idea	NOUN
gujaf-441	273	37	that	that	SCONJ
gujaf-441	273	38	strongerinstitutionsreducefinancialfrictionsandenhancefirms‘accesstodebt(abbasetal	strongerinstitutionsreducefinancialfrictionsandenhancefirms‘accesstodebt(abbasetal	PROPN
gujaf-441	273	39	.	.	PUNCT
gujaf-441	273	40	,	,	PUNCT
gujaf-441	273	41	2023).thisfindingalignswiththebroaderliteratureontheroleofgovernanceframeworksin	2023).thisfindingalignswiththebroaderliteratureontheroleofgovernanceframeworksin	NUM
gujaf-441	273	42	facilitating	facilitate	VERB
gujaf-441	273	43	capital	capital	NOUN
gujaf-441	273	44	market	market	NOUN
gujaf-441	273	45	development	development	NOUN
gujaf-441	273	46	and	and	CCONJ
gujaf-441	273	47	enabling	enable	VERB
gujaf-441	273	48	more	more	ADV
gujaf-441	273	49	efficient	efficient	ADJ
gujaf-441	273	50	debt	debt	NOUN
gujaf-441	273	51	financing	financing	NOUN
gujaf-441	273	52	(	(	PUNCT
gujaf-441	273	53	zou	zou	NOUN
gujaf-441	273	54	etal	etal	PROPN
gujaf-441	273	55	.	.	PUNCT
gujaf-441	273	56	,	,	PUNCT
gujaf-441	273	57	2022	2022	NUM
gujaf-441	273	58	)	)	PUNCT
gujaf-441	273	59	.	.	PUNCT
gujaf-441	274	1	policyimplications	policyimplication	NOUN
gujaf-441	274	2	the	the	DET
gujaf-441	274	3	findings	finding	NOUN
gujaf-441	274	4	of	of	ADP
gujaf-441	274	5	this	this	DET
gujaf-441	274	6	study	study	NOUN
gujaf-441	274	7	offer	offer	VERB
gujaf-441	274	8	valuable	valuable	ADJ
gujaf-441	274	9	insights	insight	NOUN
gujaf-441	274	10	for	for	ADP
gujaf-441	274	11	policymakers	policymaker	NOUN
gujaf-441	274	12	aiming	aim	VERB
gujaf-441	274	13	to	to	PART
gujaf-441	274	14	foster	foster	VERB
gujaf-441	274	15	a	a	DET
gujaf-441	274	16	stable	stable	ADJ
gujaf-441	274	17	and	and	CCONJ
gujaf-441	274	18	inclusive	inclusive	ADJ
gujaf-441	274	19	corporate	corporate	ADJ
gujaf-441	274	20	financing	financing	NOUN
gujaf-441	274	21	environment	environment	NOUN
gujaf-441	274	22	,	,	PUNCT
gujaf-441	274	23	particularly	particularly	ADV
gujaf-441	274	24	in	in	ADP
gujaf-441	274	25	emerging	emerge	VERB
gujaf-441	274	26	and	and	CCONJ
gujaf-441	274	27	developing	develop	VERB
gujaf-441	274	28	economies	economy	NOUN
gujaf-441	274	29	.	.	PUNCT
gujaf-441	275	1	the	the	DET
gujaf-441	275	2	positive	positive	ADJ
gujaf-441	275	3	association	association	NOUN
gujaf-441	275	4	between	between	ADP
gujaf-441	275	5	profitability	profitability	NOUN
gujaf-441	275	6	and	and	CCONJ
gujaf-441	275	7	leverage	leverage	NOUN
gujaf-441	275	8	suggests	suggest	VERB
gujaf-441	275	9	that	that	SCONJ
gujaf-441	275	10	profitable	profitable	ADJ
gujaf-441	275	11	firms	firm	NOUN
gujaf-441	275	12	continue	continue	VERB
gujaf-441	275	13	to	to	PART
gujaf-441	275	14	depend	depend	VERB
gujaf-441	275	15	on	on	ADP
gujaf-441	275	16	debt	debt	NOUN
gujaf-441	275	17	to	to	PART
gujaf-441	275	18	capitalise	capitalise	VERB
gujaf-441	275	19	on	on	ADP
gujaf-441	275	20	potential	potential	ADJ
gujaf-441	275	21	tax	tax	NOUN
gujaf-441	275	22	advantages	advantage	NOUN
gujaf-441	275	23	,	,	PUNCT
gujaf-441	275	24	rather	rather	ADV
gujaf-441	275	25	than	than	ADP
gujaf-441	275	26	exclusively	exclusively	ADV
gujaf-441	275	27	relying	rely	VERB
gujaf-441	275	28	on	on	ADP
gujaf-441	275	29	internal	internal	ADJ
gujaf-441	275	30	financing	financing	NOUN
gujaf-441	275	31	.	.	PUNCT
gujaf-441	276	1	this	this	DET
gujaf-441	276	2	pattern	pattern	NOUN
gujaf-441	276	3	highlights	highlight	VERB
gujaf-441	276	4	the	the	DET
gujaf-441	276	5	need	need	NOUN
gujaf-441	276	6	for	for	SCONJ
gujaf-441	276	7	governments	government	NOUN
gujaf-441	276	8	to	to	PART
gujaf-441	276	9	revisit	revisit	VERB
gujaf-441	276	10	corporate	corporate	ADJ
gujaf-441	276	11	tax	tax	NOUN
gujaf-441	276	12	policies	policy	NOUN
gujaf-441	276	13	to	to	PART
gujaf-441	276	14	balance	balance	VERB
gujaf-441	276	15	incentives	incentive	NOUN
gujaf-441	276	16	for	for	ADP
gujaf-441	276	17	debt	debt	NOUN
gujaf-441	276	18	and	and	CCONJ
gujaf-441	276	19	equity	equity	NOUN
gujaf-441	276	20	financing	financing	NOUN
gujaf-441	276	21	.	.	PUNCT
gujaf-441	277	1	for	for	ADP
gujaf-441	277	2	instance	instance	NOUN
gujaf-441	277	3	,	,	PUNCT
gujaf-441	277	4	limiting	limit	VERB
gujaf-441	277	5	excessive	excessive	ADJ
gujaf-441	277	6	tax	tax	NOUN
gujaf-441	277	7	benefits	benefit	NOUN
gujaf-441	277	8	linked	link	VERB
gujaf-441	277	9	to	to	ADP
gujaf-441	277	10	interest	interest	NOUN
gujaf-441	277	11	deductibility	deductibility	NOUN
gujaf-441	277	12	could	could	AUX
gujaf-441	277	13	mitigate	mitigate	VERB
gujaf-441	277	14	the	the	DET
gujaf-441	277	15	risk	risk	NOUN
gujaf-441	277	16	of	of	ADP
gujaf-441	277	17	firms	firm	NOUN
gujaf-441	277	18	over	over	ADP
gujaf-441	277	19	-	-	PUNCT
gujaf-441	277	20	leveraging	leveraging	NOUN
gujaf-441	277	21	,	,	PUNCT
gujaf-441	277	22	thereby	thereby	ADV
gujaf-441	277	23	enhancing	enhance	VERB
gujaf-441	277	24	financial	financial	ADJ
gujaf-441	277	25	system	system	NOUN
gujaf-441	277	26	stability(abbas	stability(abbas	PROPN
gujaf-441	277	27	et	et	PROPN
gujaf-441	277	28	al	al	PROPN
gujaf-441	277	29	.	.	PROPN
gujaf-441	277	30	,	,	PUNCT
gujaf-441	277	31	2023	2023	NUM
gujaf-441	277	32	)	)	PUNCT
gujaf-441	277	33	.	.	PUNCT
gujaf-441	278	1	additionally	additionally	ADV
gujaf-441	278	2	,	,	PUNCT
gujaf-441	278	3	developing	develop	VERB
gujaf-441	278	4	alternative	alternative	ADJ
gujaf-441	278	5	financing	financing	NOUN
gujaf-441	278	6	channels	channel	NOUN
gujaf-441	278	7	,	,	PUNCT
gujaf-441	278	8	such	such	ADJ
gujaf-441	278	9	as	as	ADP
gujaf-441	278	10	equity	equity	NOUN
gujaf-441	278	11	markets	market	NOUN
gujaf-441	278	12	or	or	CCONJ
gujaf-441	278	13	venture	venture	NOUN
gujaf-441	278	14	capital	capital	NOUN
gujaf-441	278	15	,	,	PUNCT
gujaf-441	278	16	may	may	AUX
gujaf-441	278	17	help	help	VERB
gujaf-441	278	18	reduce	reduce	VERB
gujaf-441	278	19	reliance	reliance	NOUN
gujaf-441	278	20	on	on	ADP
gujaf-441	278	21	debt	debt	NOUN
gujaf-441	278	22	financing	financing	NOUN
gujaf-441	278	23	while	while	SCONJ
gujaf-441	278	24	supporting	support	VERB
gujaf-441	278	25	profitable	profitable	ADJ
gujaf-441	278	26	firms	firm	NOUN
gujaf-441	278	27	in	in	ADP
gujaf-441	278	28	their	their	PRON
gujaf-441	278	29	growth	growth	NOUN
gujaf-441	278	30	endeavours	endeavour	VERB
gujaf-441	278	31	(	(	PUNCT
gujaf-441	278	32	zou	zou	X
gujaf-441	278	33	et	et	PROPN
gujaf-441	278	34	al	al	PROPN
gujaf-441	278	35	.	.	PROPN
gujaf-441	278	36	,	,	PUNCT
gujaf-441	278	37	2022	2022	NUM
gujaf-441	278	38	)	)	PUNCT
gujaf-441	278	39	.	.	PUNCT
gujaf-441	279	1	thepersistentnegative	thepersistentnegative	ADJ
gujaf-441	279	2	relationshipbetween	relationshipbetween	PROPN
gujaf-441	279	3	firm	firm	PROPN
gujaf-441	279	4	sizeandleverageindicatesthatlarger	sizeandleverageindicatesthatlarger	PROPN
gujaf-441	279	5	firms	firm	NOUN
gujaf-441	279	6	tend	tend	VERB
gujaf-441	279	7	to	to	PART
gujaf-441	279	8	adopt	adopt	VERB
gujaf-441	279	9	more	more	ADV
gujaf-441	279	10	conservative	conservative	ADJ
gujaf-441	279	11	capital	capital	NOUN
gujaf-441	279	12	structures	structure	NOUN
gujaf-441	279	13	,	,	PUNCT
gujaf-441	279	14	likely	likely	ADJ
gujaf-441	279	15	due	due	ADP
gujaf-441	279	16	to	to	ADP
gujaf-441	279	17	better	well	ADJ
gujaf-441	279	18	access	access	NOUN
gujaf-441	279	19	to	to	ADP
gujaf-441	279	20	internal	internal	ADJ
gujaf-441	279	21	funding	funding	NOUN
gujaf-441	279	22	and	and	CCONJ
gujaf-441	279	23	equity	equity	NOUN
gujaf-441	279	24	markets	market	NOUN
gujaf-441	279	25	.	.	PUNCT
gujaf-441	280	1	this	this	DET
gujaf-441	280	2	finding	finding	NOUN
gujaf-441	280	3	suggests	suggest	VERB
gujaf-441	280	4	that	that	SCONJ
gujaf-441	280	5	policy	policy	NOUN
gujaf-441	280	6	measures	measure	NOUN
gujaf-441	280	7	aimed	aim	VERB
gujaf-441	280	8	at	at	ADP
gujaf-441	280	9	improving	improve	VERB
gujaf-441	280	10	debt	debt	NOUN
gujaf-441	280	11	market	market	NOUN
gujaf-441	280	12	access	access	NOUN
gujaf-441	280	13	should	should	AUX
gujaf-441	280	14	primarily	primarily	ADV
gujaf-441	280	15	target	target	VERB
gujaf-441	280	16	smes	sme	NOUN
gujaf-441	280	17	,	,	PUNCT
gujaf-441	280	18	which	which	PRON
gujaf-441	280	19	appear	appear	VERB
gujaf-441	280	20	to	to	PART
gujaf-441	280	21	be	be	AUX
gujaf-441	280	22	more	more	ADV
gujaf-441	280	23	dependent	dependent	ADJ
gujaf-441	280	24	on	on	ADP
gujaf-441	280	25	externaldebtfinancing.strengtheningcreditguaranteeschemes	externaldebtfinancing.strengtheningcreditguaranteescheme	NOUN
gujaf-441	280	26	,	,	PUNCT
gujaf-441	280	27	subsidisedlending	subsidisedlende	VERB
gujaf-441	280	28	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	280	29	,	,	PUNCT
gujaf-441	280	30	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	280	31	434	434	NUM
gujaf-441	280	32	programmes	programme	NOUN
gujaf-441	280	33	,	,	PUNCT
gujaf-441	280	34	and	and	CCONJ
gujaf-441	280	35	sme	sme	ADJ
gujaf-441	280	36	-	-	PUNCT
gujaf-441	280	37	focused	focus	VERB
gujaf-441	280	38	bond	bond	NOUN
gujaf-441	280	39	markets	market	NOUN
gujaf-441	280	40	could	could	AUX
gujaf-441	280	41	lower	lower	VERB
gujaf-441	280	42	the	the	DET
gujaf-441	280	43	cost	cost	NOUN
gujaf-441	280	44	of	of	ADP
gujaf-441	280	45	capital	capital	NOUN
gujaf-441	280	46	for	for	ADP
gujaf-441	280	47	these	these	DET
gujaf-441	280	48	firms	firm	NOUN
gujaf-441	280	49	and	and	CCONJ
gujaf-441	280	50	promote	promote	VERB
gujaf-441	280	51	sustainable	sustainable	ADJ
gujaf-441	280	52	growth	growth	NOUN
gujaf-441	280	53	(	(	PUNCT
gujaf-441	280	54	boukhatem	boukhatem	PROPN
gujaf-441	280	55	&	&	CCONJ
gujaf-441	280	56	moussa	moussa	PROPN
gujaf-441	280	57	,	,	PUNCT
gujaf-441	280	58	2020	2020	NUM
gujaf-441	280	59	)	)	PUNCT
gujaf-441	280	60	.	.	PUNCT
gujaf-441	281	1	furthermore	furthermore	ADV
gujaf-441	281	2	,	,	PUNCT
gujaf-441	281	3	regulatory	regulatory	ADJ
gujaf-441	281	4	reforms	reform	NOUN
gujaf-441	281	5	that	that	PRON
gujaf-441	281	6	reduce	reduce	VERB
gujaf-441	281	7	information	information	NOUN
gujaf-441	281	8	asymmetries	asymmetry	NOUN
gujaf-441	281	9	,	,	PUNCT
gujaf-441	281	10	such	such	ADJ
gujaf-441	281	11	as	as	ADP
gujaf-441	281	12	mandatory	mandatory	ADJ
gujaf-441	281	13	credit	credit	NOUN
gujaf-441	281	14	scoring	scoring	NOUN
gujaf-441	281	15	or	or	CCONJ
gujaf-441	281	16	smerating	smerating	NOUN
gujaf-441	281	17	systems	system	NOUN
gujaf-441	281	18	,	,	PUNCT
gujaf-441	281	19	could	could	AUX
gujaf-441	281	20	enhance	enhance	VERB
gujaf-441	281	21	lenders	lender	NOUN
gujaf-441	281	22	‘	'	PUNCT
gujaf-441	281	23	confidence	confidence	NOUN
gujaf-441	281	24	and	and	CCONJ
gujaf-441	281	25	willingness	willingness	NOUN
gujaf-441	281	26	to	to	PART
gujaf-441	281	27	extend	extend	VERB
gujaf-441	281	28	credit	credit	NOUN
gujaf-441	281	29	to	to	ADP
gujaf-441	281	30	smaller	small	ADJ
gujaf-441	281	31	firms	firm	NOUN
gujaf-441	281	32	(	(	PUNCT
gujaf-441	281	33	singh	singh	PROPN
gujaf-441	281	34	&	&	CCONJ
gujaf-441	281	35	sharma	sharma	PROPN
gujaf-441	281	36	,	,	PUNCT
gujaf-441	281	37	2021	2021	NUM
gujaf-441	281	38	)	)	PUNCT
gujaf-441	281	39	.	.	PUNCT
gujaf-441	282	1	assettangibility‘spositiveassociationwithleverageunderscoresthecriticalroleof	assettangibility‘spositiveassociationwithleverageunderscoresthecriticalroleof	PROPN
gujaf-441	282	2	collateral	collateral	NOUN
gujaf-441	282	3	in	in	ADP
gujaf-441	282	4	accessing	access	VERB
gujaf-441	282	5	debt	debt	NOUN
gujaf-441	282	6	financing	financing	NOUN
gujaf-441	282	7	.	.	PUNCT
gujaf-441	283	1	in	in	ADP
gujaf-441	283	2	this	this	DET
gujaf-441	283	3	context	context	NOUN
gujaf-441	283	4	,	,	PUNCT
gujaf-441	283	5	policymakers	policymaker	NOUN
gujaf-441	283	6	should	should	AUX
gujaf-441	283	7	prioritise	prioritise	VERB
gujaf-441	283	8	reforms	reform	NOUN
gujaf-441	283	9	that	that	PRON
gujaf-441	283	10	enhance	enhance	VERB
gujaf-441	283	11	property	property	NOUN
gujaf-441	283	12	rights	right	NOUN
gujaf-441	283	13	,	,	PUNCT
gujaf-441	283	14	land	land	NOUN
gujaf-441	283	15	titling	titling	NOUN
gujaf-441	283	16	systems	system	NOUN
gujaf-441	283	17	,	,	PUNCT
gujaf-441	283	18	and	and	CCONJ
gujaf-441	283	19	asset	asset	NOUN
gujaf-441	283	20	registration	registration	NOUN
gujaf-441	283	21	processes	process	NOUN
gujaf-441	283	22	.	.	PUNCT
gujaf-441	284	1	clear	clear	ADJ
gujaf-441	284	2	and	and	CCONJ
gujaf-441	284	3	enforceable	enforceable	ADJ
gujaf-441	284	4	collateral	collateral	ADJ
gujaf-441	284	5	laws	law	NOUN
gujaf-441	284	6	can	can	AUX
gujaf-441	284	7	reduce	reduce	VERB
gujaf-441	284	8	the	the	DET
gujaf-441	284	9	perceived	perceive	VERB
gujaf-441	284	10	risks	risk	NOUN
gujaf-441	284	11	of	of	ADP
gujaf-441	284	12	lending	lending	NOUN
gujaf-441	284	13	and	and	CCONJ
gujaf-441	284	14	encourage	encourage	VERB
gujaf-441	284	15	the	the	DET
gujaf-441	284	16	extension	extension	NOUN
gujaf-441	284	17	of	of	ADP
gujaf-441	284	18	credit	credit	NOUN
gujaf-441	284	19	,	,	PUNCT
gujaf-441	284	20	particularlyto	particularlyto	ADJ
gujaf-441	284	21	firms	firm	NOUN
gujaf-441	284	22	in	in	ADP
gujaf-441	284	23	sectors	sector	NOUN
gujaf-441	284	24	with	with	ADP
gujaf-441	284	25	substantial	substantial	ADJ
gujaf-441	284	26	physical	physical	ADJ
gujaf-441	284	27	assets	asset	NOUN
gujaf-441	284	28	(	(	PUNCT
gujaf-441	284	29	ahmed	ahmed	PROPN
gujaf-441	284	30	&	&	CCONJ
gujaf-441	284	31	naqvi	naqvi	NOUN
gujaf-441	284	32	,	,	PUNCT
gujaf-441	284	33	2021	2021	NUM
gujaf-441	284	34	)	)	PUNCT
gujaf-441	284	35	.	.	PUNCT
gujaf-441	285	1	in	in	ADP
gujaf-441	285	2	parallel	parallel	NOUN
gujaf-441	285	3	,	,	PUNCT
gujaf-441	285	4	the	the	DET
gujaf-441	285	5	development	development	NOUN
gujaf-441	285	6	of	of	ADP
gujaf-441	285	7	movable	movable	ADJ
gujaf-441	285	8	collateral	collateral	NOUN
gujaf-441	285	9	registries	registry	NOUN
gujaf-441	285	10	could	could	AUX
gujaf-441	285	11	help	help	VERB
gujaf-441	285	12	firms	firm	NOUN
gujaf-441	285	13	with	with	ADP
gujaf-441	285	14	limited	limited	ADJ
gujaf-441	285	15	real	real	ADJ
gujaf-441	285	16	estate	estate	NOUN
gujaf-441	285	17	holdings	holding	NOUN
gujaf-441	285	18	to	to	PART
gujaf-441	285	19	leverage	leverage	NOUN
gujaf-441	285	20	machinery	machinery	NOUN
gujaf-441	285	21	,	,	PUNCT
gujaf-441	285	22	equipment	equipment	NOUN
gujaf-441	285	23	,	,	PUNCT
gujaf-441	285	24	or	or	CCONJ
gujaf-441	285	25	inventory	inventory	NOUN
gujaf-441	285	26	for	for	ADP
gujaf-441	285	27	borrowing	borrowing	NOUN
gujaf-441	285	28	purposes	purpose	NOUN
gujaf-441	285	29	,	,	PUNCT
gujaf-441	285	30	thereby	thereby	ADV
gujaf-441	285	31	broadening	broaden	VERB
gujaf-441	285	32	credit	credit	NOUN
gujaf-441	285	33	access	access	NOUN
gujaf-441	285	34	across	across	ADP
gujaf-441	285	35	diverse	diverse	ADJ
gujaf-441	285	36	industries	industry	NOUN
gujaf-441	285	37	(	(	PUNCT
gujaf-441	285	38	boukhatem	boukhatem	PROPN
gujaf-441	285	39	&	&	CCONJ
gujaf-441	285	40	moussa	moussa	PROPN
gujaf-441	285	41	,	,	PUNCT
gujaf-441	285	42	2020	2020	NUM
gujaf-441	285	43	)	)	PUNCT
gujaf-441	285	44	.	.	PUNCT
gujaf-441	286	1	the	the	DET
gujaf-441	286	2	significant	significant	ADJ
gujaf-441	286	3	positive	positive	ADJ
gujaf-441	286	4	impact	impact	NOUN
gujaf-441	286	5	of	of	ADP
gujaf-441	286	6	inflation	inflation	NOUN
gujaf-441	286	7	on	on	ADP
gujaf-441	286	8	leverage	leverage	NOUN
gujaf-441	286	9	suggests	suggest	VERB
gujaf-441	286	10	that	that	SCONJ
gujaf-441	286	11	firms	firm	NOUN
gujaf-441	286	12	may	may	AUX
gujaf-441	286	13	strategically	strategically	ADV
gujaf-441	286	14	increase	increase	VERB
gujaf-441	286	15	borrowing	borrowing	NOUN
gujaf-441	286	16	during	during	ADP
gujaf-441	286	17	inflationary	inflationary	ADJ
gujaf-441	286	18	periods	period	NOUN
gujaf-441	286	19	to	to	PART
gujaf-441	286	20	reduce	reduce	VERB
gujaf-441	286	21	the	the	DET
gujaf-441	286	22	real	real	ADJ
gujaf-441	286	23	cost	cost	NOUN
gujaf-441	286	24	of	of	ADP
gujaf-441	286	25	debt	debt	NOUN
gujaf-441	286	26	.	.	PUNCT
gujaf-441	287	1	while	while	SCONJ
gujaf-441	287	2	this	this	DET
gujaf-441	287	3	behaviour	behaviour	NOUN
gujaf-441	287	4	can	can	AUX
gujaf-441	287	5	be	be	AUX
gujaf-441	287	6	rational	rational	ADJ
gujaf-441	287	7	from	from	ADP
gujaf-441	287	8	a	a	DET
gujaf-441	287	9	corporate	corporate	ADJ
gujaf-441	287	10	perspective	perspective	NOUN
gujaf-441	287	11	,	,	PUNCT
gujaf-441	287	12	it	it	PRON
gujaf-441	287	13	raises	raise	VERB
gujaf-441	287	14	concerns	concern	NOUN
gujaf-441	287	15	about	about	ADP
gujaf-441	287	16	potential	potential	ADJ
gujaf-441	287	17	financial	financial	ADJ
gujaf-441	287	18	fragility	fragility	NOUN
gujaf-441	287	19	if	if	SCONJ
gujaf-441	287	20	inflation	inflation	NOUN
gujaf-441	287	21	expectations	expectation	NOUN
gujaf-441	287	22	become	become	VERB
gujaf-441	287	23	unanchored	unanchored	ADJ
gujaf-441	287	24	.	.	PUNCT
gujaf-441	288	1	policymakers	policymaker	NOUN
gujaf-441	288	2	shouldtherefore	shouldtherefore	ADJ
gujaf-441	288	3	focus	focus	NOUN
gujaf-441	288	4	on	on	ADP
gujaf-441	288	5	ensuring	ensure	VERB
gujaf-441	288	6	macroeconomic	macroeconomic	ADJ
gujaf-441	288	7	stability	stability	NOUN
gujaf-441	288	8	through	through	ADP
gujaf-441	288	9	prudent	prudent	ADJ
gujaf-441	288	10	monetary	monetary	ADJ
gujaf-441	288	11	policies	policy	NOUN
gujaf-441	288	12	that	that	PRON
gujaf-441	288	13	contain	contain	VERB
gujaf-441	288	14	inflation	inflation	NOUN
gujaf-441	288	15	within	within	ADP
gujaf-441	288	16	target	target	NOUN
gujaf-441	288	17	bands	band	NOUN
gujaf-441	288	18	(	(	PUNCT
gujaf-441	288	19	nnadi	nnadi	NOUN
gujaf-441	288	20	et	et	PROPN
gujaf-441	288	21	al	al	PROPN
gujaf-441	288	22	.	.	PROPN
gujaf-441	288	23	,	,	PUNCT
gujaf-441	288	24	2021	2021	NUM
gujaf-441	288	25	)	)	PUNCT
gujaf-441	288	26	.	.	PUNCT
gujaf-441	289	1	at	at	ADP
gujaf-441	289	2	the	the	DET
gujaf-441	289	3	same	same	ADJ
gujaf-441	289	4	time	time	NOUN
gujaf-441	289	5	,	,	PUNCT
gujaf-441	289	6	financial	financial	ADJ
gujaf-441	289	7	regulators	regulator	NOUN
gujaf-441	289	8	may	may	AUX
gujaf-441	289	9	consider	consider	VERB
gujaf-441	289	10	implementing	implement	VERB
gujaf-441	289	11	countercyclical	countercyclical	ADJ
gujaf-441	289	12	capital	capital	NOUN
gujaf-441	289	13	buffers	buffer	NOUN
gujaf-441	289	14	or	or	CCONJ
gujaf-441	289	15	dynamic	dynamic	ADJ
gujaf-441	289	16	provisioning	provisioning	NOUN
gujaf-441	289	17	requirements	requirement	NOUN
gujaf-441	289	18	to	to	PART
gujaf-441	289	19	prevent	prevent	VERB
gujaf-441	289	20	excessive	excessive	ADJ
gujaf-441	289	21	credit	credit	NOUN
gujaf-441	289	22	growth	growth	NOUN
gujaf-441	289	23	during	during	ADP
gujaf-441	289	24	inflationary	inflationary	ADJ
gujaf-441	289	25	episodes	episode	NOUN
gujaf-441	289	26	(	(	PUNCT
gujaf-441	289	27	kumar	kumar	PROPN
gujaf-441	289	28	&	&	CCONJ
gujaf-441	289	29	bansal	bansal	PROPN
gujaf-441	289	30	,	,	PUNCT
gujaf-441	289	31	2023	2023	NUM
gujaf-441	289	32	)	)	PUNCT
gujaf-441	289	33	.	.	PUNCT
gujaf-441	290	1	the	the	DET
gujaf-441	290	2	negative	negative	ADJ
gujaf-441	290	3	influence	influence	NOUN
gujaf-441	290	4	of	of	ADP
gujaf-441	290	5	gdp	gdp	NOUN
gujaf-441	290	6	growth	growth	NOUN
gujaf-441	290	7	on	on	ADP
gujaf-441	290	8	leverage	leverage	NOUN
gujaf-441	290	9	implies	imply	VERB
gujaf-441	290	10	that	that	SCONJ
gujaf-441	290	11	firms	firm	NOUN
gujaf-441	290	12	prefer	prefer	VERB
gujaf-441	290	13	internal	internal	ADJ
gujaf-441	290	14	funds	fund	NOUN
gujaf-441	290	15	wheneconomic	wheneconomic	ADJ
gujaf-441	290	16	conditionsarestrong.thishighlightstheimportanceofpoliciesthatpromote	conditionsarestrong.thishighlightstheimportanceofpoliciesthatpromote	VERB
gujaf-441	290	17	steady	steady	ADJ
gujaf-441	290	18	economic	economic	ADJ
gujaf-441	290	19	growth	growth	NOUN
gujaf-441	290	20	,	,	PUNCT
gujaf-441	290	21	as	as	SCONJ
gujaf-441	290	22	robust	robust	ADJ
gujaf-441	290	23	macroeconomic	macroeconomic	ADJ
gujaf-441	290	24	performance	performance	NOUN
gujaf-441	290	25	can	can	AUX
gujaf-441	290	26	reduce	reduce	VERB
gujaf-441	290	27	systemic	systemic	ADJ
gujaf-441	290	28	dependence	dependence	NOUN
gujaf-441	290	29	on	on	ADP
gujaf-441	290	30	debt	debt	NOUN
gujaf-441	290	31	financing	financing	NOUN
gujaf-441	290	32	.	.	PUNCT
gujaf-441	291	1	governments	government	NOUN
gujaf-441	291	2	could	could	AUX
gujaf-441	291	3	further	far	ADV
gujaf-441	291	4	support	support	VERB
gujaf-441	291	5	this	this	DET
gujaf-441	291	6	dynamic	dynamic	NOUN
gujaf-441	291	7	by	by	ADP
gujaf-441	291	8	facilitating	facilitate	VERB
gujaf-441	291	9	the	the	DET
gujaf-441	291	10	reinvestment	reinvestment	NOUN
gujaf-441	291	11	of	of	ADP
gujaf-441	291	12	corporate	corporate	ADJ
gujaf-441	291	13	earnings	earning	NOUN
gujaf-441	291	14	through	through	ADP
gujaf-441	291	15	tax	tax	NOUN
gujaf-441	291	16	incentives	incentive	NOUN
gujaf-441	291	17	for	for	ADP
gujaf-441	291	18	retained	retain	VERB
gujaf-441	291	19	profits	profit	NOUN
gujaf-441	291	20	or	or	CCONJ
gujaf-441	291	21	productivityenhancing	productivityenhancing	ADJ
gujaf-441	291	22	investments	investment	NOUN
gujaf-441	291	23	(	(	PUNCT
gujaf-441	291	24	chen	chen	PROPN
gujaf-441	291	25	et	et	PROPN
gujaf-441	291	26	al	al	PROPN
gujaf-441	291	27	.	.	PROPN
gujaf-441	291	28	,	,	PUNCT
gujaf-441	291	29	2021	2021	NUM
gujaf-441	291	30	)	)	PUNCT
gujaf-441	291	31	.	.	PUNCT
gujaf-441	292	1	additionally	additionally	ADV
gujaf-441	292	2	,	,	PUNCT
gujaf-441	292	3	ensuring	ensure	VERB
gujaf-441	292	4	a	a	DET
gujaf-441	292	5	stable	stable	ADJ
gujaf-441	292	6	business	business	NOUN
gujaf-441	292	7	environment	environment	NOUN
gujaf-441	292	8	,	,	PUNCT
gujaf-441	292	9	characterised	characterise	VERB
gujaf-441	292	10	by	by	ADP
gujaf-441	292	11	predictable	predictable	ADJ
gujaf-441	292	12	regulations	regulation	NOUN
gujaf-441	292	13	and	and	CCONJ
gujaf-441	292	14	low	low	ADJ
gujaf-441	292	15	political	political	ADJ
gujaf-441	292	16	risk	risk	NOUN
gujaf-441	292	17	,	,	PUNCT
gujaf-441	292	18	can	can	AUX
gujaf-441	292	19	encourage	encourage	VERB
gujaf-441	292	20	firms	firm	NOUN
gujaf-441	292	21	to	to	PART
gujaf-441	292	22	finance	finance	VERB
gujaf-441	292	23	expansion	expansion	NOUN
gujaf-441	292	24	through	through	ADP
gujaf-441	292	25	internally	internally	ADV
gujaf-441	292	26	generated	generate	VERB
gujaf-441	292	27	resources	resource	NOUN
gujaf-441	292	28	rather	rather	ADV
gujaf-441	292	29	than	than	ADP
gujaf-441	292	30	external	external	ADJ
gujaf-441	292	31	debt	debt	NOUN
gujaf-441	292	32	.	.	PUNCT
gujaf-441	293	1	finally	finally	ADV
gujaf-441	293	2	,	,	PUNCT
gujaf-441	293	3	the	the	DET
gujaf-441	293	4	positive	positive	ADJ
gujaf-441	293	5	effect	effect	NOUN
gujaf-441	293	6	of	of	ADP
gujaf-441	293	7	institutional	institutional	ADJ
gujaf-441	293	8	quality	quality	NOUN
gujaf-441	293	9	on	on	ADP
gujaf-441	293	10	leverage	leverage	NOUN
gujaf-441	293	11	reinforces	reinforce	VERB
gujaf-441	293	12	the	the	DET
gujaf-441	293	13	critical	critical	ADJ
gujaf-441	293	14	role	role	NOUN
gujaf-441	293	15	of	of	ADP
gujaf-441	293	16	strong	strong	ADJ
gujaf-441	293	17	governance	governance	NOUN
gujaf-441	293	18	frameworks	framework	NOUN
gujaf-441	293	19	in	in	ADP
gujaf-441	293	20	shaping	shape	VERB
gujaf-441	293	21	corporate	corporate	ADJ
gujaf-441	293	22	financing	financing	NOUN
gujaf-441	293	23	decisions	decision	NOUN
gujaf-441	293	24	.	.	PUNCT
gujaf-441	294	1	policymakersshould	policymakersshould	AUX
gujaf-441	294	2	continue	continue	VERB
gujaf-441	294	3	efforts	effort	NOUN
gujaf-441	294	4	to	to	PART
gujaf-441	294	5	improve	improve	VERB
gujaf-441	294	6	legal	legal	ADJ
gujaf-441	294	7	systems	system	NOUN
gujaf-441	294	8	,	,	PUNCT
gujaf-441	294	9	contract	contract	NOUN
gujaf-441	294	10	enforcement	enforcement	NOUN
gujaf-441	294	11	,	,	PUNCT
gujaf-441	294	12	anti	anti	ADJ
gujaf-441	294	13	-	-	ADJ
gujaf-441	294	14	corruption	corruption	ADJ
gujaf-441	294	15	measures	measure	NOUN
gujaf-441	294	16	,	,	PUNCT
gujaf-441	294	17	and	and	CCONJ
gujaf-441	294	18	overall	overall	ADJ
gujaf-441	294	19	regulatory	regulatory	ADJ
gujaf-441	294	20	quality	quality	NOUN
gujaf-441	294	21	.	.	PUNCT
gujaf-441	295	1	such	such	ADJ
gujaf-441	295	2	reforms	reform	NOUN
gujaf-441	295	3	can	can	AUX
gujaf-441	295	4	enhance	enhance	VERB
gujaf-441	295	5	creditor	creditor	NOUN
gujaf-441	295	6	protection	protection	NOUN
gujaf-441	295	7	,	,	PUNCT
gujaf-441	295	8	reduce	reduce	VERB
gujaf-441	295	9	borrowing	borrowing	NOUN
gujaf-441	295	10	costs	cost	NOUN
gujaf-441	295	11	,	,	PUNCT
gujaf-441	295	12	and	and	CCONJ
gujaf-441	295	13	facilitate	facilitate	VERB
gujaf-441	295	14	broader	broad	ADJ
gujaf-441	295	15	access	access	NOUN
gujaf-441	295	16	to	to	ADP
gujaf-441	295	17	debt	debt	NOUN
gujaf-441	295	18	markets	market	NOUN
gujaf-441	295	19	(	(	PUNCT
gujaf-441	295	20	abbas	abbas	PROPN
gujaf-441	295	21	et	et	PROPN
gujaf-441	295	22	al	al	PROPN
gujaf-441	295	23	.	.	PROPN
gujaf-441	295	24	,	,	PUNCT
gujaf-441	295	25	2023	2023	NUM
gujaf-441	295	26	)	)	PUNCT
gujaf-441	295	27	.	.	PUNCT
gujaf-441	296	1	importantly	importantly	ADV
gujaf-441	296	2	,	,	PUNCT
gujaf-441	296	3	international	international	ADJ
gujaf-441	296	4	experience	experience	NOUN
gujaf-441	296	5	suggests	suggest	VERB
gujaf-441	296	6	that	that	SCONJ
gujaf-441	296	7	strengthening	strengthen	VERB
gujaf-441	296	8	institutions	institution	NOUN
gujaf-441	296	9	not	not	PART
gujaf-441	296	10	only	only	ADV
gujaf-441	296	11	promotes	promote	VERB
gujaf-441	296	12	financial	financial	ADJ
gujaf-441	296	13	market	market	NOUN
gujaf-441	296	14	development	development	NOUN
gujaf-441	296	15	but	but	CCONJ
gujaf-441	296	16	alsocontributes	alsocontribute	NOUN
gujaf-441	296	17	to	to	ADP
gujaf-441	296	18	long	long	ADJ
gujaf-441	296	19	-	-	PUNCT
gujaf-441	296	20	term	term	NOUN
gujaf-441	296	21	economicresilience	economicresilience	NOUN
gujaf-441	296	22	(	(	PUNCT
gujaf-441	296	23	zou	zou	NOUN
gujaf-441	296	24	et	et	PROPN
gujaf-441	296	25	al	al	PROPN
gujaf-441	296	26	.	.	PROPN
gujaf-441	296	27	,	,	PUNCT
gujaf-441	296	28	2022	2022	NUM
gujaf-441	296	29	)	)	PUNCT
gujaf-441	296	30	.	.	PUNCT
gujaf-441	297	1	therefore	therefore	ADV
gujaf-441	297	2	,	,	PUNCT
gujaf-441	297	3	institution	institution	NOUN
gujaf-441	297	4	-	-	PUNCT
gujaf-441	297	5	building	building	NOUN
gujaf-441	297	6	should	should	AUX
gujaf-441	297	7	remain	remain	VERB
gujaf-441	297	8	a	a	DET
gujaf-441	297	9	central	central	ADJ
gujaf-441	297	10	pillar	pillar	NOUN
gujaf-441	297	11	of	of	ADP
gujaf-441	297	12	national	national	ADJ
gujaf-441	297	13	development	development	NOUN
gujaf-441	297	14	strategies	strategy	NOUN
gujaf-441	297	15	aimed	aim	VERB
gujaf-441	297	16	at	at	ADP
gujaf-441	297	17	fostering	foster	VERB
gujaf-441	297	18	sustainable	sustainable	ADJ
gujaf-441	297	19	corporate	corporate	ADJ
gujaf-441	297	20	growth	growth	NOUN
gujaf-441	297	21	.	.	PUNCT
gujaf-441	298	1	5.0	5.0	NUM
gujaf-441	298	2	conclusions	conclusion	NOUN
gujaf-441	298	3	this	this	DET
gujaf-441	298	4	study	study	NOUN
gujaf-441	298	5	set	set	VERB
gujaf-441	298	6	out	out	ADP
gujaf-441	298	7	to	to	PART
gujaf-441	298	8	explore	explore	VERB
gujaf-441	298	9	the	the	DET
gujaf-441	298	10	determinants	determinant	NOUN
gujaf-441	298	11	of	of	ADP
gujaf-441	298	12	corporate	corporate	ADJ
gujaf-441	298	13	leverage	leverage	NOUN
gujaf-441	298	14	,	,	PUNCT
gujaf-441	298	15	using	use	VERB
gujaf-441	298	16	robusteconometrictechniquesincludingols	robusteconometrictechniquesincludingol	NOUN
gujaf-441	298	17	,	,	PUNCT
gujaf-441	298	18	quantileregression	quantileregression	NOUN
gujaf-441	298	19	,	,	PUNCT
gujaf-441	298	20	andsensitivityanalyses.the	andsensitivityanalyses.the	DET
gujaf-441	298	21	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	298	22	,	,	PUNCT
gujaf-441	298	23	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	298	24	435	435	NUM
gujaf-441	298	25	findings	finding	NOUN
gujaf-441	298	26	reveal	reveal	VERB
gujaf-441	298	27	that	that	SCONJ
gujaf-441	298	28	firm	firm	ADJ
gujaf-441	298	29	-	-	PUNCT
gujaf-441	298	30	level	level	NOUN
gujaf-441	298	31	characteristics	characteristic	NOUN
gujaf-441	298	32	such	such	ADJ
gujaf-441	298	33	as	as	ADP
gujaf-441	298	34	profitability	profitability	NOUN
gujaf-441	298	35	,	,	PUNCT
gujaf-441	298	36	firm	firm	ADJ
gujaf-441	298	37	size	size	NOUN
gujaf-441	298	38	,	,	PUNCT
gujaf-441	298	39	tangibility	tangibility	NOUN
gujaf-441	298	40	,	,	PUNCT
gujaf-441	298	41	and	and	CCONJ
gujaf-441	298	42	macroeconomic	macroeconomic	ADJ
gujaf-441	298	43	variables	variable	NOUN
gujaf-441	298	44	including	include	VERB
gujaf-441	298	45	inflation	inflation	NOUN
gujaf-441	298	46	,	,	PUNCT
gujaf-441	298	47	gdp	gdp	NOUN
gujaf-441	298	48	growth	growth	NOUN
gujaf-441	298	49	,	,	PUNCT
gujaf-441	298	50	interest	interest	NOUN
gujaf-441	298	51	rates	rate	NOUN
gujaf-441	298	52	,	,	PUNCT
gujaf-441	298	53	and	and	CCONJ
gujaf-441	298	54	institutional	institutional	ADJ
gujaf-441	298	55	quality	quality	NOUN
gujaf-441	298	56	exert	exert	VERB
gujaf-441	298	57	significant	significant	ADJ
gujaf-441	298	58	influence	influence	NOUN
gujaf-441	298	59	on	on	ADP
gujaf-441	298	60	leverage	leverage	NOUN
gujaf-441	298	61	decisions	decision	NOUN
gujaf-441	298	62	.	.	PUNCT
gujaf-441	299	1	specifically	specifically	ADV
gujaf-441	299	2	,	,	PUNCT
gujaf-441	299	3	profitable	profitable	ADJ
gujaf-441	299	4	firms	firm	NOUN
gujaf-441	299	5	appear	appear	VERB
gujaf-441	299	6	moreinclinedtowardsdebtfinancing	moreinclinedtowardsdebtfinance	VERB
gujaf-441	299	7	,	,	PUNCT
gujaf-441	299	8	likelytoexploittax	likelytoexploittax	VERB
gujaf-441	299	9	advantagesassociatedwithinterest	advantagesassociatedwithinter	ADJ
gujaf-441	299	10	deductibility	deductibility	NOUN
gujaf-441	299	11	(	(	PUNCT
gujaf-441	299	12	abbas	abbas	PROPN
gujaf-441	299	13	et	et	PROPN
gujaf-441	299	14	al	al	PROPN
gujaf-441	299	15	.	.	PROPN
gujaf-441	299	16	,	,	PUNCT
gujaf-441	299	17	2023	2023	NUM
gujaf-441	299	18	)	)	PUNCT
gujaf-441	299	19	.	.	PUNCT
gujaf-441	300	1	conversely	conversely	ADV
gujaf-441	300	2	,	,	PUNCT
gujaf-441	300	3	larger	large	ADJ
gujaf-441	300	4	firms	firm	NOUN
gujaf-441	300	5	tend	tend	VERB
gujaf-441	300	6	to	to	PART
gujaf-441	300	7	reduce	reduce	VERB
gujaf-441	300	8	reliance	reliance	NOUN
gujaf-441	300	9	on	on	ADP
gujaf-441	300	10	debt	debt	NOUN
gujaf-441	300	11	,	,	PUNCT
gujaf-441	300	12	possibly	possibly	ADV
gujaf-441	300	13	due	due	ADP
gujaf-441	300	14	to	to	ADP
gujaf-441	300	15	stronger	strong	ADJ
gujaf-441	300	16	access	access	NOUN
gujaf-441	300	17	to	to	ADP
gujaf-441	300	18	internal	internal	ADJ
gujaf-441	300	19	funds	fund	NOUN
gujaf-441	300	20	and	and	CCONJ
gujaf-441	300	21	equity	equity	NOUN
gujaf-441	300	22	capital	capital	NOUN
gujaf-441	300	23	(	(	PUNCT
gujaf-441	300	24	singh	singh	PROPN
gujaf-441	300	25	&	&	CCONJ
gujaf-441	300	26	sharma	sharma	PROPN
gujaf-441	300	27	,	,	PUNCT
gujaf-441	300	28	2021	2021	NUM
gujaf-441	300	29	)	)	PUNCT
gujaf-441	300	30	.	.	PUNCT
gujaf-441	301	1	the	the	DET
gujaf-441	301	2	positive	positive	ADJ
gujaf-441	301	3	link	link	NOUN
gujaf-441	301	4	between	between	ADP
gujaf-441	301	5	tangibility	tangibility	NOUN
gujaf-441	301	6	and	and	CCONJ
gujaf-441	301	7	leverage	leverage	NOUN
gujaf-441	301	8	reinforces	reinforce	VERB
gujaf-441	301	9	the	the	DET
gujaf-441	301	10	role	role	NOUN
gujaf-441	301	11	of	of	ADP
gujaf-441	301	12	collateral	collateral	NOUN
gujaf-441	301	13	in	in	ADP
gujaf-441	301	14	mitigating	mitigate	VERB
gujaf-441	301	15	lender	lender	NOUN
gujaf-441	301	16	risk	risk	NOUN
gujaf-441	301	17	,	,	PUNCT
gujaf-441	301	18	while	while	SCONJ
gujaf-441	301	19	inflation‘s	inflation‘s	PROPN
gujaf-441	301	20	positive	positive	ADJ
gujaf-441	301	21	impact	impact	NOUN
gujaf-441	301	22	highlights	highlight	NOUN
gujaf-441	301	23	how	how	SCONJ
gujaf-441	301	24	firms	firm	NOUN
gujaf-441	301	25	may	may	AUX
gujaf-441	301	26	leverage	leverage	VERB
gujaf-441	301	27	macroeconomic	macroeconomic	ADJ
gujaf-441	301	28	conditions	condition	NOUN
gujaf-441	301	29	to	to	PART
gujaf-441	301	30	minimise	minimise	VERB
gujaf-441	301	31	the	the	DET
gujaf-441	301	32	real	real	ADJ
gujaf-441	301	33	cost	cost	NOUN
gujaf-441	301	34	of	of	ADP
gujaf-441	301	35	borrowing	borrowing	NOUN
gujaf-441	301	36	(	(	PUNCT
gujaf-441	301	37	nnadi	nnadi	PROPN
gujaf-441	301	38	et	et	PROPN
gujaf-441	301	39	al	al	PROPN
gujaf-441	301	40	.	.	PROPN
gujaf-441	301	41	,	,	PUNCT
gujaf-441	301	42	2021	2021	NUM
gujaf-441	301	43	)	)	PUNCT
gujaf-441	301	44	.	.	PUNCT
gujaf-441	302	1	importantly	importantly	ADV
gujaf-441	302	2	,	,	PUNCT
gujaf-441	302	3	higher	high	ADJ
gujaf-441	302	4	institutional	institutional	ADJ
gujaf-441	302	5	quality	quality	NOUN
gujaf-441	302	6	facilitates	facilitate	VERB
gujaf-441	302	7	greater	great	ADJ
gujaf-441	302	8	access	access	NOUN
gujaf-441	302	9	to	to	ADP
gujaf-441	302	10	debt	debt	NOUN
gujaf-441	302	11	by	by	ADP
gujaf-441	302	12	improving	improve	VERB
gujaf-441	302	13	creditor	creditor	NOUN
gujaf-441	302	14	protection	protection	NOUN
gujaf-441	302	15	and	and	CCONJ
gujaf-441	302	16	reducing	reduce	VERB
gujaf-441	302	17	transaction	transaction	NOUN
gujaf-441	302	18	costs	cost	NOUN
gujaf-441	302	19	(	(	PUNCT
gujaf-441	302	20	zou	zou	X
gujaf-441	302	21	et	et	PROPN
gujaf-441	302	22	al	al	PROPN
gujaf-441	302	23	.	.	PROPN
gujaf-441	302	24	,	,	PUNCT
gujaf-441	302	25	2022	2022	NUM
gujaf-441	302	26	)	)	PUNCT
gujaf-441	302	27	.	.	PUNCT
gujaf-441	303	1	collectively	collectively	ADV
gujaf-441	303	2	,	,	PUNCT
gujaf-441	303	3	these	these	DET
gujaf-441	303	4	findings	finding	NOUN
gujaf-441	303	5	contribute	contribute	VERB
gujaf-441	303	6	to	to	ADP
gujaf-441	303	7	a	a	DET
gujaf-441	303	8	nuanced	nuanced	ADJ
gujaf-441	303	9	understanding	understanding	NOUN
gujaf-441	303	10	of	of	ADP
gujaf-441	303	11	capital	capital	NOUN
gujaf-441	303	12	structure	structure	NOUN
gujaf-441	303	13	dynamics	dynamic	NOUN
gujaf-441	303	14	in	in	ADP
gujaf-441	303	15	emerging	emerge	VERB
gujaf-441	303	16	economies	economy	NOUN
gujaf-441	303	17	and	and	CCONJ
gujaf-441	303	18	underscore	underscore	VERB
gujaf-441	303	19	the	the	DET
gujaf-441	303	20	interplaybetween	interplaybetween	ADJ
gujaf-441	303	21	firm	firm	NOUN
gujaf-441	303	22	-	-	PUNCT
gujaf-441	303	23	specific	specific	ADJ
gujaf-441	303	24	and	and	CCONJ
gujaf-441	303	25	macro	macro	ADJ
gujaf-441	303	26	-	-	ADJ
gujaf-441	303	27	institutional	institutional	ADJ
gujaf-441	303	28	factors	factor	NOUN
gujaf-441	303	29	in	in	ADP
gujaf-441	303	30	shaping	shape	VERB
gujaf-441	303	31	financing	financing	NOUN
gujaf-441	303	32	strategies	strategy	NOUN
gujaf-441	303	33	.	.	PUNCT
gujaf-441	304	1	the	the	DET
gujaf-441	304	2	paper	paper	NOUN
gujaf-441	304	3	recommends	recommend	VERB
gujaf-441	304	4	that	that	SCONJ
gujaf-441	304	5	policymakers	policymaker	NOUN
gujaf-441	304	6	prioritise	prioritise	VERB
gujaf-441	304	7	the	the	DET
gujaf-441	304	8	development	development	NOUN
gujaf-441	304	9	of	of	ADP
gujaf-441	304	10	financial	financial	ADJ
gujaf-441	304	11	and	and	CCONJ
gujaf-441	304	12	institutional	institutional	ADJ
gujaf-441	304	13	infrastructures	infrastructure	NOUN
gujaf-441	304	14	that	that	PRON
gujaf-441	304	15	can	can	AUX
gujaf-441	304	16	enable	enable	VERB
gujaf-441	304	17	firms	firm	NOUN
gujaf-441	304	18	,	,	PUNCT
gujaf-441	304	19	particularly	particularly	ADV
gujaf-441	304	20	smes	sme	NOUN
gujaf-441	304	21	,	,	PUNCT
gujaf-441	304	22	to	to	PART
gujaf-441	304	23	access	access	VERB
gujaf-441	304	24	diversified	diversify	VERB
gujaf-441	304	25	financingsources.strengtheninglegalframeworksrelatedtocollateral	financingsources.strengtheninglegalframeworksrelatedtocollateral	ADJ
gujaf-441	304	26	,	,	PUNCT
gujaf-441	304	27	contractenforcement	contractenforcement	NOUN
gujaf-441	304	28	,	,	PUNCT
gujaf-441	304	29	andcreditorrights	andcreditorright	NOUN
gujaf-441	304	30	canlowerborrowingcostsand	canlowerborrowingcostsand	VERB
gujaf-441	304	31	expandaccess	expandaccess	PROPN
gujaf-441	304	32	todebt	todebt	PROPN
gujaf-441	304	33	markets(boukhatem	markets(boukhatem	PROPN
gujaf-441	304	34	&	&	CCONJ
gujaf-441	304	35	moussa	moussa	PROPN
gujaf-441	304	36	,	,	PUNCT
gujaf-441	304	37	2020	2020	NUM
gujaf-441	304	38	)	)	PUNCT
gujaf-441	304	39	.	.	PUNCT
gujaf-441	305	1	at	at	ADP
gujaf-441	305	2	the	the	DET
gujaf-441	305	3	same	same	ADJ
gujaf-441	305	4	time	time	NOUN
gujaf-441	305	5	,	,	PUNCT
gujaf-441	305	6	efforts	effort	NOUN
gujaf-441	305	7	should	should	AUX
gujaf-441	305	8	be	be	AUX
gujaf-441	305	9	directed	direct	VERB
gujaf-441	305	10	towards	towards	ADP
gujaf-441	305	11	macroeconomic	macroeconomic	ADJ
gujaf-441	305	12	stabilisation	stabilisation	NOUN
gujaf-441	305	13	,	,	PUNCT
gujaf-441	305	14	especially	especially	ADV
gujaf-441	305	15	in	in	ADP
gujaf-441	305	16	managing	manage	VERB
gujaf-441	305	17	inflation	inflation	NOUN
gujaf-441	305	18	expectations	expectation	NOUN
gujaf-441	305	19	and	and	CCONJ
gujaf-441	305	20	promoting	promote	VERB
gujaf-441	305	21	sustainable	sustainable	ADJ
gujaf-441	305	22	economic	economic	ADJ
gujaf-441	305	23	growth	growth	NOUN
gujaf-441	305	24	,	,	PUNCT
gujaf-441	305	25	as	as	SCONJ
gujaf-441	305	26	these	these	DET
gujaf-441	305	27	factors	factor	NOUN
gujaf-441	305	28	significantly	significantly	ADV
gujaf-441	305	29	influence	influence	VERB
gujaf-441	305	30	firm	firm	ADJ
gujaf-441	305	31	-	-	PUNCT
gujaf-441	305	32	level	level	NOUN
gujaf-441	305	33	financing	financing	NOUN
gujaf-441	305	34	behaviour	behaviour	NOUN
gujaf-441	305	35	(	(	PUNCT
gujaf-441	305	36	kumar	kumar	PROPN
gujaf-441	305	37	&	&	CCONJ
gujaf-441	305	38	bansal	bansal	PROPN
gujaf-441	305	39	,	,	PUNCT
gujaf-441	305	40	2023	2023	NUM
gujaf-441	305	41	)	)	PUNCT
gujaf-441	305	42	.	.	PUNCT
gujaf-441	306	1	introducing	introduce	VERB
gujaf-441	306	2	tax	tax	NOUN
gujaf-441	306	3	incentives	incentive	NOUN
gujaf-441	306	4	that	that	PRON
gujaf-441	306	5	balance	balance	VERB
gujaf-441	306	6	the	the	DET
gujaf-441	306	7	cost	cost	NOUN
gujaf-441	306	8	of	of	ADP
gujaf-441	306	9	debt	debt	NOUN
gujaf-441	306	10	and	and	CCONJ
gujaf-441	306	11	equity	equity	NOUN
gujaf-441	306	12	can	can	AUX
gujaf-441	306	13	further	far	ADV
gujaf-441	306	14	encourage	encourage	VERB
gujaf-441	306	15	prudent	prudent	ADJ
gujaf-441	306	16	capital	capital	NOUN
gujaf-441	306	17	structuring	structuring	NOUN
gujaf-441	306	18	while	while	SCONJ
gujaf-441	306	19	mitigating	mitigate	VERB
gujaf-441	306	20	risks	risk	NOUN
gujaf-441	306	21	of	of	ADP
gujaf-441	306	22	over	over	ADP
gujaf-441	306	23	-	-	PUNCT
gujaf-441	306	24	leverage	leverage	NOUN
gujaf-441	306	25	during	during	ADP
gujaf-441	306	26	economic	economic	ADJ
gujaf-441	306	27	upturns	upturn	NOUN
gujaf-441	306	28	.	.	PUNCT
gujaf-441	307	1	financial	financial	ADJ
gujaf-441	307	2	regulators	regulator	NOUN
gujaf-441	307	3	should	should	AUX
gujaf-441	307	4	promote	promote	VERB
gujaf-441	307	5	the	the	DET
gujaf-441	307	6	development	development	NOUN
gujaf-441	307	7	of	of	ADP
gujaf-441	307	8	alternative	alternative	ADJ
gujaf-441	307	9	financing	financing	NOUN
gujaf-441	307	10	channels	channel	NOUN
gujaf-441	307	11	,	,	PUNCT
gujaf-441	307	12	such	such	ADJ
gujaf-441	307	13	as	as	ADP
gujaf-441	307	14	venture	venture	NOUN
gujaf-441	307	15	capital	capital	NOUN
gujaf-441	307	16	,	,	PUNCT
gujaf-441	307	17	private	private	ADJ
gujaf-441	307	18	equity	equity	NOUN
gujaf-441	307	19	,	,	PUNCT
gujaf-441	307	20	and	and	CCONJ
gujaf-441	307	21	sme	sme	ADJ
gujaf-441	307	22	-	-	PUNCT
gujaf-441	307	23	focused	focus	VERB
gujaf-441	307	24	bond	bond	NOUN
gujaf-441	307	25	markets	market	NOUN
gujaf-441	307	26	,	,	PUNCT
gujaf-441	307	27	to	to	PART
gujaf-441	307	28	reduce	reduce	VERB
gujaf-441	307	29	excessive	excessive	ADJ
gujaf-441	307	30	reliance	reliance	NOUN
gujaf-441	307	31	on	on	ADP
gujaf-441	307	32	debt	debt	NOUN
gujaf-441	307	33	financing	financing	NOUN
gujaf-441	307	34	,	,	PUNCT
gujaf-441	307	35	especially	especially	ADV
gujaf-441	307	36	in	in	ADP
gujaf-441	307	37	high	high	ADJ
gujaf-441	307	38	-	-	PUNCT
gujaf-441	307	39	profitability	profitability	NOUN
gujaf-441	307	40	sectors	sector	NOUN
gujaf-441	307	41	(	(	PUNCT
gujaf-441	307	42	zou	zou	X
gujaf-441	307	43	et	et	PROPN
gujaf-441	307	44	al	al	PROPN
gujaf-441	307	45	.	.	PROPN
gujaf-441	307	46	,	,	PUNCT
gujaf-441	307	47	2022	2022	NUM
gujaf-441	307	48	)	)	PUNCT
gujaf-441	307	49	.	.	PUNCT
gujaf-441	308	1	supporting	support	VERB
gujaf-441	308	2	credit	credit	NOUN
gujaf-441	308	3	guarantee	guarantee	NOUN
gujaf-441	308	4	schemes	scheme	NOUN
gujaf-441	308	5	,	,	PUNCT
gujaf-441	308	6	establishing	establish	VERB
gujaf-441	308	7	movable	movable	ADJ
gujaf-441	308	8	asset	asset	NOUN
gujaf-441	308	9	registries	registry	NOUN
gujaf-441	308	10	,	,	PUNCT
gujaf-441	308	11	and	and	CCONJ
gujaf-441	308	12	encouraging	encourage	VERB
gujaf-441	308	13	the	the	DET
gujaf-441	308	14	adoption	adoption	NOUN
gujaf-441	308	15	of	of	ADP
gujaf-441	308	16	sme	sme	PROPN
gujaf-441	308	17	credit	credit	NOUN
gujaf-441	308	18	rating	rating	NOUN
gujaf-441	308	19	systems	system	NOUN
gujaf-441	308	20	can	can	AUX
gujaf-441	308	21	address	address	VERB
gujaf-441	308	22	informational	informational	ADJ
gujaf-441	308	23	asymmetries	asymmetry	NOUN
gujaf-441	308	24	that	that	PRON
gujaf-441	308	25	limit	limit	VERB
gujaf-441	308	26	access	access	NOUN
gujaf-441	308	27	to	to	ADP
gujaf-441	308	28	credit	credit	NOUN
gujaf-441	308	29	for	for	ADP
gujaf-441	308	30	smaller	small	ADJ
gujaf-441	308	31	firms	firm	NOUN
gujaf-441	308	32	(	(	PUNCT
gujaf-441	308	33	ahmed	ahmed	PROPN
gujaf-441	308	34	&	&	CCONJ
gujaf-441	308	35	naqvi	naqvi	NOUN
gujaf-441	308	36	,	,	PUNCT
gujaf-441	308	37	2021	2021	NUM
gujaf-441	308	38	)	)	PUNCT
gujaf-441	308	39	.	.	PUNCT
gujaf-441	309	1	policymakers	policymaker	NOUN
gujaf-441	309	2	can	can	AUX
gujaf-441	309	3	foster	foster	VERB
gujaf-441	309	4	a	a	DET
gujaf-441	309	5	more	more	ADV
gujaf-441	309	6	resilient	resilient	ADJ
gujaf-441	309	7	and	and	CCONJ
gujaf-441	309	8	inclusive	inclusive	ADJ
gujaf-441	309	9	financial	financial	ADJ
gujaf-441	309	10	system	system	NOUN
gujaf-441	309	11	that	that	PRON
gujaf-441	309	12	supports	support	VERB
gujaf-441	309	13	sustainable	sustainable	ADJ
gujaf-441	309	14	corporate	corporate	ADJ
gujaf-441	309	15	growth	growth	NOUN
gujaf-441	309	16	while	while	SCONJ
gujaf-441	309	17	safeguarding	safeguard	VERB
gujaf-441	309	18	macroeconomic	macroeconomic	ADJ
gujaf-441	309	19	stability	stability	NOUN
gujaf-441	309	20	.	.	PUNCT
gujaf-441	310	1	the	the	DET
gujaf-441	310	2	study	study	NOUN
gujaf-441	310	3	has	have	VERB
gujaf-441	310	4	limitations	limitation	NOUN
gujaf-441	310	5	.	.	PUNCT
gujaf-441	311	1	the	the	DET
gujaf-441	311	2	analysis	analysis	NOUN
gujaf-441	311	3	relies	rely	VERB
gujaf-441	311	4	on	on	ADP
gujaf-441	311	5	aggregate	aggregate	ADJ
gujaf-441	311	6	measures	measure	NOUN
gujaf-441	311	7	of	of	ADP
gujaf-441	311	8	institutional	institutional	ADJ
gujaf-441	311	9	quality	quality	NOUN
gujaf-441	311	10	and	and	CCONJ
gujaf-441	311	11	macroeconomic	macroeconomic	ADJ
gujaf-441	311	12	indicators	indicator	NOUN
gujaf-441	311	13	that	that	SCONJ
gujaf-441	311	14	,	,	PUNCT
gujaf-441	311	15	while	while	SCONJ
gujaf-441	311	16	informative	informative	ADJ
gujaf-441	311	17	,	,	PUNCT
gujaf-441	311	18	may	may	AUX
gujaf-441	311	19	mask	mask	VERB
gujaf-441	311	20	heterogeneity	heterogeneity	NOUN
gujaf-441	311	21	in	in	ADP
gujaf-441	311	22	their	their	PRON
gujaf-441	311	23	effects	effect	NOUN
gujaf-441	311	24	across	across	ADP
gujaf-441	311	25	industries	industry	NOUN
gujaf-441	311	26	or	or	CCONJ
gujaf-441	311	27	regions	region	NOUN
gujaf-441	311	28	.	.	PUNCT
gujaf-441	312	1	furthermore	furthermore	ADV
gujaf-441	312	2	,	,	PUNCT
gujaf-441	312	3	the	the	DET
gujaf-441	312	4	dataset	dataset	NOUN
gujaf-441	312	5	,	,	PUNCT
gujaf-441	312	6	although	although	SCONJ
gujaf-441	312	7	comprehensive	comprehensive	ADJ
gujaf-441	312	8	,	,	PUNCT
gujaf-441	312	9	is	be	AUX
gujaf-441	312	10	constrained	constrain	VERB
gujaf-441	312	11	to	to	ADP
gujaf-441	312	12	firms	firm	NOUN
gujaf-441	312	13	operating	operate	VERB
gujaf-441	312	14	within	within	ADP
gujaf-441	312	15	emerging	emerge	VERB
gujaf-441	312	16	economies	economy	NOUN
gujaf-441	312	17	,	,	PUNCT
gujaf-441	312	18	which	which	PRON
gujaf-441	312	19	limits	limit	VERB
gujaf-441	312	20	the	the	DET
gujaf-441	312	21	generalisability	generalisability	NOUN
gujaf-441	312	22	ofthefindings	ofthefinding	NOUN
gujaf-441	312	23	to	to	ADP
gujaf-441	312	24	moredevelopedcontexts	moredevelopedcontexts	PROPN
gujaf-441	312	25	(	(	PUNCT
gujaf-441	312	26	chen	chen	PROPN
gujaf-441	312	27	et	et	PROPN
gujaf-441	312	28	al	al	PROPN
gujaf-441	312	29	.	.	PROPN
gujaf-441	312	30	,	,	PUNCT
gujaf-441	312	31	2021	2021	NUM
gujaf-441	312	32	)	)	PUNCT
gujaf-441	312	33	.	.	PUNCT
gujaf-441	313	1	anotherlimitation	anotherlimitation	NOUN
gujaf-441	313	2	stems	stem	VERB
gujaf-441	313	3	from	from	ADP
gujaf-441	313	4	the	the	DET
gujaf-441	313	5	static	static	ADJ
gujaf-441	313	6	nature	nature	NOUN
gujaf-441	313	7	of	of	ADP
gujaf-441	313	8	the	the	DET
gujaf-441	313	9	capital	capital	NOUN
gujaf-441	313	10	structure	structure	NOUN
gujaf-441	313	11	measures	measure	NOUN
gujaf-441	313	12	used	use	VERB
gujaf-441	313	13	,	,	PUNCT
gujaf-441	313	14	which	which	PRON
gujaf-441	313	15	may	may	AUX
gujaf-441	313	16	not	not	PART
gujaf-441	313	17	fully	fully	ADV
gujaf-441	313	18	capture	capture	VERB
gujaf-441	313	19	dynamic	dynamic	ADJ
gujaf-441	313	20	adjustments	adjustment	NOUN
gujaf-441	313	21	that	that	PRON
gujaf-441	313	22	firms	firm	NOUN
gujaf-441	313	23	make	make	VERB
gujaf-441	313	24	in	in	ADP
gujaf-441	313	25	response	response	NOUN
gujaf-441	313	26	to	to	ADP
gujaf-441	313	27	changing	change	VERB
gujaf-441	313	28	market	market	NOUN
gujaf-441	313	29	conditions	condition	NOUN
gujaf-441	313	30	or	or	CCONJ
gujaf-441	313	31	policy	policy	NOUN
gujaf-441	313	32	interventions	intervention	NOUN
gujaf-441	313	33	.	.	PUNCT
gujaf-441	314	1	future	future	ADJ
gujaf-441	314	2	research	research	NOUN
gujaf-441	314	3	can	can	AUX
gujaf-441	314	4	build	build	VERB
gujaf-441	314	5	on	on	ADP
gujaf-441	314	6	these	these	DET
gujaf-441	314	7	insights	insight	NOUN
gujaf-441	314	8	by	by	ADP
gujaf-441	314	9	exploring	explore	VERB
gujaf-441	314	10	firm	firm	ADJ
gujaf-441	314	11	-	-	PUNCT
gujaf-441	314	12	level	level	NOUN
gujaf-441	314	13	leverage	leverage	NOUN
gujaf-441	314	14	decisionsthrough	decisionsthrough	VERB
gujaf-441	314	15	a	a	DET
gujaf-441	314	16	dynamic	dynamic	ADJ
gujaf-441	314	17	panel	panel	NOUN
gujaf-441	314	18	framework	framework	NOUN
gujaf-441	314	19	or	or	CCONJ
gujaf-441	314	20	employing	employ	VERB
gujaf-441	314	21	methods	method	NOUN
gujaf-441	314	22	that	that	PRON
gujaf-441	314	23	account	account	VERB
gujaf-441	314	24	for	for	ADP
gujaf-441	314	25	endogeneity	endogeneity	NOUN
gujaf-441	314	26	,	,	PUNCT
gujaf-441	314	27	such	such	ADJ
gujaf-441	314	28	as	as	ADP
gujaf-441	314	29	system	system	NOUN
gujaf-441	314	30	gmm	gmm	NOUN
gujaf-441	314	31	.	.	PUNCT
gujaf-441	315	1	moreover	moreover	ADV
gujaf-441	315	2	,	,	PUNCT
gujaf-441	315	3	comparative	comparative	ADJ
gujaf-441	315	4	studies	study	NOUN
gujaf-441	315	5	examining	examine	VERB
gujaf-441	315	6	differences	difference	NOUN
gujaf-441	315	7	in	in	ADP
gujaf-441	315	8	capital	capital	NOUN
gujaf-441	315	9	structuredeterminantsacrossdevelopedanddevelopingeconomiescouldofferricherinsights	structuredeterminantsacrossdevelopedanddevelopingeconomiescouldofferricherinsight	NOUN
gujaf-441	315	10	intohowcontextshapesfinancingbehaviour(abbasetal	intohowcontextshapesfinancingbehaviour(abbasetal	PROPN
gujaf-441	315	11	.	.	PUNCT
gujaf-441	316	1	,2023).researchersmayalso	,2023).researchersmayalso	PROPN
gujaf-441	316	2	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	316	3	,	,	PUNCT
gujaf-441	316	4	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	316	5	436	436	NUM
gujaf-441	316	6	consider	consider	VERB
gujaf-441	316	7	integrating	integrate	VERB
gujaf-441	316	8	qualitative	qualitative	ADJ
gujaf-441	316	9	methods	method	NOUN
gujaf-441	316	10	,	,	PUNCT
gujaf-441	316	11	such	such	ADJ
gujaf-441	316	12	as	as	ADP
gujaf-441	316	13	case	case	NOUN
gujaf-441	316	14	studies	study	NOUN
gujaf-441	316	15	or	or	CCONJ
gujaf-441	316	16	interviews	interview	NOUN
gujaf-441	316	17	,	,	PUNCT
gujaf-441	316	18	to	to	PART
gujaf-441	316	19	unpack	unpack	VERB
gujaf-441	316	20	the	the	DET
gujaf-441	316	21	micro	micro	NOUN
gujaf-441	316	22	-	-	NOUN
gujaf-441	316	23	foundations	foundation	NOUN
gujaf-441	316	24	of	of	ADP
gujaf-441	316	25	capital	capital	NOUN
gujaf-441	316	26	structure	structure	NOUN
gujaf-441	316	27	decisions	decision	NOUN
gujaf-441	316	28	,	,	PUNCT
gujaf-441	316	29	particularly	particularly	ADV
gujaf-441	316	30	in	in	ADP
gujaf-441	316	31	contexts	context	NOUN
gujaf-441	316	32	where	where	SCONJ
gujaf-441	316	33	formal	formal	ADJ
gujaf-441	316	34	institutions	institution	NOUN
gujaf-441	316	35	are	be	AUX
gujaf-441	316	36	weak	weak	ADJ
gujaf-441	316	37	or	or	CCONJ
gujaf-441	316	38	evolving	evolve	VERB
gujaf-441	316	39	.	.	PUNCT
gujaf-441	317	1	such	such	ADJ
gujaf-441	317	2	extensions	extension	NOUN
gujaf-441	317	3	would	would	AUX
gujaf-441	317	4	contribute	contribute	VERB
gujaf-441	317	5	to	to	ADP
gujaf-441	317	6	a	a	DET
gujaf-441	317	7	deeperunderstanding	deeperunderstanding	NOUN
gujaf-441	317	8	of	of	ADP
gujaf-441	317	9	how	how	SCONJ
gujaf-441	317	10	firms	firm	NOUN
gujaf-441	317	11	navigate	navigate	VERB
gujaf-441	317	12	complex	complex	ADJ
gujaf-441	317	13	financial	financial	ADJ
gujaf-441	317	14	landscapes	landscape	NOUN
gujaf-441	317	15	in	in	ADP
gujaf-441	317	16	pursuit	pursuit	NOUN
gujaf-441	317	17	of	of	ADP
gujaf-441	317	18	sustainable	sustainable	ADJ
gujaf-441	317	19	growth	growth	NOUN
gujaf-441	317	20	.	.	PUNCT
gujaf-441	318	1	references	reference	NOUN
gujaf-441	318	2	abbas	abbas	PROPN
gujaf-441	318	3	,	,	PUNCT
gujaf-441	318	4	a.	a.	PROPN
gujaf-441	318	5	,	,	PUNCT
gujaf-441	318	6	ali	ali	PROPN
gujaf-441	318	7	,	,	PUNCT
gujaf-441	318	8	s.	s.	PROPN
gujaf-441	318	9	,&hussain	,&hussain	PROPN
gujaf-441	318	10	,	,	PUNCT
gujaf-441	318	11	m.	m.	NOUN
gujaf-441	318	12	(	(	PUNCT
gujaf-441	318	13	2023	2023	NUM
gujaf-441	318	14	)	)	PUNCT
gujaf-441	318	15	.	.	PUNCT
gujaf-441	319	1	institutional	institutional	ADJ
gujaf-441	319	2	qualityand	qualityand	PROPN
gujaf-441	319	3	capital	capital	NOUN
gujaf-441	319	4	structure	structure	NOUN
gujaf-441	319	5	:	:	PUNCT
gujaf-441	319	6	evidence	evidence	NOUN
gujaf-441	319	7	from	from	ADP
gujaf-441	319	8	emerging	emerge	VERB
gujaf-441	319	9	economies	economy	NOUN
gujaf-441	319	10	.	.	PUNCT
gujaf-441	320	1	journal	journal	NOUN
gujaf-441	320	2	of	of	ADP
gujaf-441	320	3	international	international	ADJ
gujaf-441	320	4	financial	financial	ADJ
gujaf-441	320	5	markets	market	NOUN
gujaf-441	320	6	,	,	PUNCT
gujaf-441	320	7	institutions	institution	NOUN
gujaf-441	320	8	&	&	CCONJ
gujaf-441	320	9	money	money	NOUN
gujaf-441	320	10	,	,	PUNCT
gujaf-441	320	11	87	87	NUM
gujaf-441	320	12	,	,	PUNCT
gujaf-441	320	13	101783	101783	NUM
gujaf-441	320	14	.	.	PUNCT
gujaf-441	321	1	abor	abor	PROPN
gujaf-441	321	2	,	,	PUNCT
gujaf-441	321	3	j.	j.	PROPN
gujaf-441	321	4	y.	y.	PROPN
gujaf-441	321	5	,	,	PUNCT
gujaf-441	321	6	adjasi	adjasi	PROPN
gujaf-441	321	7	,	,	PUNCT
gujaf-441	321	8	c.	c.	PROPN
gujaf-441	321	9	,	,	PUNCT
gujaf-441	321	10	&	&	CCONJ
gujaf-441	321	11	bokpin	bokpin	NOUN
gujaf-441	321	12	,	,	PUNCT
gujaf-441	321	13	g.	g.	PROPN
gujaf-441	321	14	a.	a.	PROPN
gujaf-441	321	15	(	(	PUNCT
gujaf-441	321	16	2020	2020	NUM
gujaf-441	321	17	)	)	PUNCT
gujaf-441	321	18	.	.	PUNCT
gujaf-441	322	1	sme	sme	NOUN
gujaf-441	322	2	financing	financing	NOUN
gujaf-441	322	3	in	in	ADP
gujaf-441	322	4	sub	sub	ADJ
gujaf-441	322	5	-	-	ADJ
gujaf-441	322	6	saharan	saharan	ADJ
gujaf-441	322	7	africa	africa	PROPN
gujaf-441	322	8	:	:	PUNCT
gujaf-441	322	9	the	the	DET
gujaf-441	322	10	role	role	NOUN
gujaf-441	322	11	of	of	ADP
gujaf-441	322	12	capital	capital	NOUN
gujaf-441	322	13	structure	structure	NOUN
gujaf-441	322	14	dynamics	dynamic	NOUN
gujaf-441	322	15	.	.	PUNCT
gujaf-441	323	1	journal	journal	NOUN
gujaf-441	323	2	of	of	ADP
gujaf-441	323	3	small	small	ADJ
gujaf-441	323	4	business	business	NOUN
gujaf-441	323	5	management	management	NOUN
gujaf-441	323	6	,	,	PUNCT
gujaf-441	323	7	58(5	58(5	NUM
gujaf-441	323	8	)	)	PUNCT
gujaf-441	323	9	,	,	PUNCT
gujaf-441	323	10	865–883	865–883	NUM
gujaf-441	323	11	.	.	PUNCT
gujaf-441	324	1	abor	abor	PROPN
gujaf-441	324	2	,	,	PUNCT
gujaf-441	324	3	j.	j.	PROPN
gujaf-441	324	4	,	,	PUNCT
gujaf-441	324	5	&	&	CCONJ
gujaf-441	324	6	biekpe	biekpe	NOUN
gujaf-441	324	7	,	,	PUNCT
gujaf-441	324	8	n.	n.	NOUN
gujaf-441	324	9	(	(	PUNCT
gujaf-441	324	10	2015).whatdetermines	2015).whatdetermines	NUM
gujaf-441	324	11	thecapitalstructureof	thecapitalstructureof	VERB
gujaf-441	324	12	listedfirms	listedfirm	NOUN
gujaf-441	324	13	in	in	ADP
gujaf-441	324	14	ghana	ghana	PROPN
gujaf-441	324	15	?	?	PUNCT
gujaf-441	325	1	africanfinancejournal,17(1	africanfinancejournal,17(1	PROPN
gujaf-441	325	2	)	)	PUNCT
gujaf-441	325	3	,	,	PUNCT
gujaf-441	326	1	1–20	1–20	PROPN
gujaf-441	326	2	.	.	PUNCT
gujaf-441	326	3	agyei	agyei	PROPN
gujaf-441	326	4	,	,	PUNCT
gujaf-441	326	5	s.	s.	PROPN
gujaf-441	326	6	k.	k.	PROPN
gujaf-441	326	7	,	,	PUNCT
gujaf-441	326	8	&	&	CCONJ
gujaf-441	326	9	owusu	owusu	PROPN
gujaf-441	326	10	,	,	PUNCT
gujaf-441	326	11	r.	r.	PROPN
gujaf-441	326	12	a.	a.	PROPN
gujaf-441	326	13	(	(	PUNCT
gujaf-441	326	14	2018	2018	NUM
gujaf-441	326	15	)	)	PUNCT
gujaf-441	326	16	.	.	PUNCT
gujaf-441	327	1	determinants	determinant	NOUN
gujaf-441	327	2	of	of	ADP
gujaf-441	327	3	capital	capital	NOUN
gujaf-441	327	4	structure	structure	NOUN
gujaf-441	327	5	of	of	ADP
gujaf-441	327	6	smes	sme	NOUN
gujaf-441	327	7	:	:	PUNCT
gujaf-441	327	8	empirical	empirical	ADJ
gujaf-441	327	9	evidence	evidence	NOUN
gujaf-441	327	10	from	from	ADP
gujaf-441	327	11	ghana	ghana	PROPN
gujaf-441	327	12	.	.	PUNCT
gujaf-441	328	1	journal	journal	PROPN
gujaf-441	328	2	of	of	ADP
gujaf-441	328	3	african	african	ADJ
gujaf-441	328	4	business	business	NOUN
gujaf-441	328	5	,	,	PUNCT
gujaf-441	328	6	19(3	19(3	NUM
gujaf-441	328	7	)	)	PUNCT
gujaf-441	328	8	,	,	PUNCT
gujaf-441	328	9	415–431	415–431	NUM
gujaf-441	328	10	.	.	PUNCT
gujaf-441	329	1	ahmed	ahmed	PROPN
gujaf-441	329	2	,	,	PUNCT
gujaf-441	329	3	s.	s.	PROPN
gujaf-441	329	4	,&naqvi	,&naqvi	PUNCT
gujaf-441	329	5	,	,	PUNCT
gujaf-441	329	6	s.a.a.(2021).assettangibilityandleveragedecisions	s.a.a.(2021).assettangibilityandleveragedecision	NOUN
gujaf-441	329	7	:	:	PUNCT
gujaf-441	329	8	newevidence	newevidence	NOUN
gujaf-441	329	9	from	from	ADP
gujaf-441	329	10	dynamicquantileregressions	dynamicquantileregression	NOUN
gujaf-441	329	11	.	.	PUNCT
gujaf-441	330	1	international	international	ADJ
gujaf-441	330	2	reviewoffinancialanalysis,78	reviewoffinancialanalysis,78	PROPN
gujaf-441	330	3	,	,	PUNCT
gujaf-441	330	4	101949	101949	NUM
gujaf-441	330	5	.	.	PUNCT
gujaf-441	331	1	asante	asante	PROPN
gujaf-441	331	2	,	,	PUNCT
gujaf-441	331	3	s.	s.	PROPN
gujaf-441	331	4	,	,	PUNCT
gujaf-441	331	5	aboagye	aboagye	PROPN
gujaf-441	331	6	,	,	PUNCT
gujaf-441	331	7	a.	a.	PROPN
gujaf-441	331	8	q.	q.	PROPN
gujaf-441	331	9	q.	q.	PROPN
gujaf-441	331	10	,	,	PUNCT
gujaf-441	331	11	&	&	CCONJ
gujaf-441	331	12	osei	osei	PROPN
gujaf-441	331	13	-	-	PUNCT
gujaf-441	331	14	assibey	assibey	PROPN
gujaf-441	331	15	,	,	PUNCT
gujaf-441	331	16	e.	e.	PROPN
gujaf-441	331	17	(	(	PUNCT
gujaf-441	331	18	2023	2023	NUM
gujaf-441	331	19	)	)	PUNCT
gujaf-441	331	20	.	.	PUNCT
gujaf-441	332	1	fintech	fintech	NOUN
gujaf-441	332	2	credit	credit	NOUN
gujaf-441	332	3	and	and	CCONJ
gujaf-441	332	4	the	the	DET
gujaf-441	332	5	financing	financing	NOUN
gujaf-441	332	6	decisions	decision	NOUN
gujaf-441	332	7	of	of	ADP
gujaf-441	332	8	smes	sme	NOUN
gujaf-441	332	9	in	in	ADP
gujaf-441	332	10	developing	develop	VERB
gujaf-441	332	11	economies	economy	NOUN
gujaf-441	332	12	.	.	PUNCT
gujaf-441	333	1	emerging	emerge	VERB
gujaf-441	333	2	markets	market	NOUN
gujaf-441	333	3	finance	finance	NOUN
gujaf-441	333	4	andtrade	andtrade	ADJ
gujaf-441	333	5	,	,	PUNCT
gujaf-441	333	6	59(4	59(4	NUM
gujaf-441	333	7	)	)	PUNCT
gujaf-441	333	8	,	,	PUNCT
gujaf-441	333	9	1001–1020	1001–1020	NUM
gujaf-441	333	10	.	.	PUNCT
gujaf-441	334	1	asiedu	asiedu	PROPN
gujaf-441	334	2	-	-	PUNCT
gujaf-441	334	3	akrofi	akrofi	ADV
gujaf-441	334	4	,	,	PUNCT
gujaf-441	334	5	k.	k.	PROPN
gujaf-441	334	6	,	,	PUNCT
gujaf-441	334	7	abor	abor	PROPN
gujaf-441	334	8	,	,	PUNCT
gujaf-441	334	9	j.	j.	PROPN
gujaf-441	334	10	y.	y.	PROPN
gujaf-441	334	11	,	,	PUNCT
gujaf-441	334	12	&	&	CCONJ
gujaf-441	334	13	bokpin	bokpin	NOUN
gujaf-441	334	14	,	,	PUNCT
gujaf-441	334	15	g.	g.	PROPN
gujaf-441	334	16	a.	a.	PROPN
gujaf-441	335	1	(	(	PUNCT
gujaf-441	335	2	2018	2018	NUM
gujaf-441	335	3	)	)	PUNCT
gujaf-441	335	4	.	.	PUNCT
gujaf-441	336	1	profitability	profitability	NOUN
gujaf-441	336	2	and	and	CCONJ
gujaf-441	336	3	leverage	leverage	NOUN
gujaf-441	336	4	:	:	PUNCT
gujaf-441	336	5	evidence	evidence	NOUN
gujaf-441	336	6	from	from	ADP
gujaf-441	336	7	ghanaian	ghanaian	ADJ
gujaf-441	336	8	smes	sme	NOUN
gujaf-441	336	9	.	.	PUNCT
gujaf-441	337	1	african	african	ADJ
gujaf-441	337	2	journal	journal	PROPN
gujaf-441	337	3	of	of	ADP
gujaf-441	337	4	economic	economic	ADJ
gujaf-441	337	5	and	and	CCONJ
gujaf-441	337	6	management	management	NOUN
gujaf-441	337	7	studies,9(2	studies,9(2	NOUN
gujaf-441	337	8	)	)	PUNCT
gujaf-441	337	9	,	,	PUNCT
gujaf-441	337	10	221–234	221–234	NUM
gujaf-441	337	11	.	.	PUNCT
gujaf-441	338	1	boateng	boateng	PROPN
gujaf-441	338	2	,	,	PUNCT
gujaf-441	338	3	a.	a.	PROPN
gujaf-441	338	4	,	,	PUNCT
gujaf-441	338	5	huang	huang	PROPN
gujaf-441	338	6	,	,	PUNCT
gujaf-441	338	7	w.	w.	PROPN
gujaf-441	338	8	,	,	PUNCT
gujaf-441	338	9	&	&	CCONJ
gujaf-441	338	10	tang	tang	PROPN
gujaf-441	338	11	,	,	PUNCT
gujaf-441	338	12	y.	y.	PROPN
gujaf-441	338	13	(	(	PUNCT
gujaf-441	338	14	2022	2022	NUM
gujaf-441	338	15	)	)	PUNCT
gujaf-441	338	16	.	.	PUNCT
gujaf-441	339	1	capital	capital	NOUN
gujaf-441	339	2	structure	structure	NOUN
gujaf-441	339	3	and	and	CCONJ
gujaf-441	339	4	firm	firm	ADJ
gujaf-441	339	5	value	value	NOUN
gujaf-441	339	6	:	:	PUNCT
gujaf-441	339	7	empirical	empirical	ADJ
gujaf-441	339	8	evidence	evidence	NOUN
gujaf-441	339	9	from	from	ADP
gujaf-441	339	10	emerging	emerge	VERB
gujaf-441	339	11	markets	market	NOUN
gujaf-441	339	12	.	.	PUNCT
gujaf-441	340	1	international	international	ADJ
gujaf-441	340	2	review	review	NOUN
gujaf-441	340	3	of	of	ADP
gujaf-441	340	4	financial	financial	ADJ
gujaf-441	340	5	analysis	analysis	NOUN
gujaf-441	340	6	,	,	PUNCT
gujaf-441	340	7	79	79	NUM
gujaf-441	340	8	,	,	PUNCT
gujaf-441	340	9	101999	101999	NUM
gujaf-441	340	10	.	.	PUNCT
gujaf-441	341	1	boukhatem	boukhatem	PROPN
gujaf-441	341	2	,	,	PUNCT
gujaf-441	341	3	j.	j.	PROPN
gujaf-441	341	4	,	,	PUNCT
gujaf-441	341	5	&	&	CCONJ
gujaf-441	341	6	moussa	moussa	PROPN
gujaf-441	341	7	,	,	PUNCT
gujaf-441	341	8	f.	f.	PROPN
gujaf-441	341	9	b.	b.	PROPN
gujaf-441	341	10	(	(	PUNCT
gujaf-441	341	11	2020	2020	NUM
gujaf-441	341	12	)	)	PUNCT
gujaf-441	341	13	.	.	PUNCT
gujaf-441	342	1	does	do	VERB
gujaf-441	342	2	collateral	collateral	NOUN
gujaf-441	342	3	matter	matter	NOUN
gujaf-441	342	4	for	for	ADP
gujaf-441	342	5	smes	sme	NOUN
gujaf-441	342	6	‘	'	PUNCT
gujaf-441	342	7	access	access	NOUN
gujaf-441	342	8	to	to	ADP
gujaf-441	342	9	finance	finance	NOUN
gujaf-441	342	10	?	?	PUNCT
gujaf-441	343	1	evidence	evidence	NOUN
gujaf-441	343	2	from	from	ADP
gujaf-441	343	3	mena	mena	PROPN
gujaf-441	343	4	countries	countries	PROPN
gujaf-441	343	5	.	.	PUNCT
gujaf-441	344	1	research	research	NOUN
gujaf-441	344	2	in	in	ADP
gujaf-441	344	3	international	international	ADJ
gujaf-441	344	4	business	business	NOUN
gujaf-441	344	5	and	and	CCONJ
gujaf-441	344	6	finance	finance	NOUN
gujaf-441	344	7	,	,	PUNCT
gujaf-441	344	8	54	54	NUM
gujaf-441	344	9	,	,	PUNCT
gujaf-441	344	10	101301	101301	NUM
gujaf-441	344	11	.	.	PUNCT
gujaf-441	345	1	buchinsky	buchinsky	NOUN
gujaf-441	345	2	,	,	PUNCT
gujaf-441	345	3	m.	m.	NOUN
gujaf-441	345	4	(	(	PUNCT
gujaf-441	345	5	1998	1998	NUM
gujaf-441	345	6	)	)	PUNCT
gujaf-441	345	7	.	.	PUNCT
gujaf-441	346	1	recent	recent	ADJ
gujaf-441	346	2	advances	advance	NOUN
gujaf-441	346	3	in	in	ADP
gujaf-441	346	4	quantile	quantile	ADJ
gujaf-441	346	5	regression	regression	NOUN
gujaf-441	346	6	models	model	NOUN
gujaf-441	346	7	:	:	PUNCT
gujaf-441	346	8	a	a	DET
gujaf-441	346	9	practical	practical	ADJ
gujaf-441	346	10	guideline	guideline	NOUN
gujaf-441	346	11	for	for	ADP
gujaf-441	346	12	empirical	empirical	ADJ
gujaf-441	346	13	research	research	NOUN
gujaf-441	346	14	.	.	PUNCT
gujaf-441	347	1	journal	journal	NOUN
gujaf-441	347	2	of	of	ADP
gujaf-441	347	3	human	human	ADJ
gujaf-441	347	4	resources	resource	NOUN
gujaf-441	347	5	,	,	PUNCT
gujaf-441	347	6	33(1	33(1	NUM
gujaf-441	347	7	)	)	PUNCT
gujaf-441	347	8	,	,	PUNCT
gujaf-441	347	9	88–126	88–126	PROPN
gujaf-441	347	10	.	.	PUNCT
gujaf-441	348	1	chen	chen	PROPN
gujaf-441	348	2	,	,	PUNCT
gujaf-441	348	3	l.	l.	PROPN
gujaf-441	348	4	,	,	PUNCT
gujaf-441	348	5	wang	wang	PROPN
gujaf-441	348	6	,	,	PUNCT
gujaf-441	348	7	j.	j.	PROPN
gujaf-441	348	8	,	,	PUNCT
gujaf-441	348	9	&	&	CCONJ
gujaf-441	348	10	li	li	PROPN
gujaf-441	348	11	,	,	PUNCT
gujaf-441	348	12	s.	s.	PROPN
gujaf-441	348	13	(	(	PUNCT
gujaf-441	348	14	2023	2023	NUM
gujaf-441	348	15	)	)	PUNCT
gujaf-441	348	16	.	.	PUNCT
gujaf-441	349	1	the	the	DET
gujaf-441	349	2	effect	effect	NOUN
gujaf-441	349	3	of	of	ADP
gujaf-441	349	4	firm	firm	ADJ
gujaf-441	349	5	characteristics	characteristic	NOUN
gujaf-441	349	6	on	on	ADP
gujaf-441	349	7	sme	sme	ADJ
gujaf-441	349	8	capital	capital	NOUN
gujaf-441	349	9	structure	structure	NOUN
gujaf-441	349	10	in	in	ADP
gujaf-441	349	11	emerging	emerge	VERB
gujaf-441	349	12	economies	economy	NOUN
gujaf-441	349	13	:	:	PUNCT
gujaf-441	349	14	evidence	evidence	NOUN
gujaf-441	349	15	from	from	ADP
gujaf-441	349	16	asean	asean	PROPN
gujaf-441	349	17	.	.	PUNCT
gujaf-441	350	1	asia	asia	PROPN
gujaf-441	350	2	pacific	pacific	PROPN
gujaf-441	350	3	journal	journal	PROPN
gujaf-441	350	4	of	of	ADP
gujaf-441	350	5	management	management	NOUN
gujaf-441	350	6	,	,	PUNCT
gujaf-441	350	7	40	40	NUM
gujaf-441	350	8	,	,	PUNCT
gujaf-441	350	9	459–486	459–486	NUM
gujaf-441	350	10	.	.	PUNCT
gujaf-441	351	1	chen	chen	PROPN
gujaf-441	351	2	,	,	PUNCT
gujaf-441	351	3	y.	y.	PROPN
gujaf-441	351	4	,	,	PUNCT
gujaf-441	351	5	li	li	PROPN
gujaf-441	351	6	,	,	PUNCT
gujaf-441	351	7	k.	k.	PROPN
gujaf-441	351	8	,	,	PUNCT
gujaf-441	351	9	&	&	CCONJ
gujaf-441	351	10	xu	xu	PROPN
gujaf-441	351	11	,	,	PUNCT
gujaf-441	351	12	c.	c.	PROPN
gujaf-441	351	13	(	(	PUNCT
gujaf-441	351	14	2021	2021	NUM
gujaf-441	351	15	)	)	PUNCT
gujaf-441	351	16	.	.	PUNCT
gujaf-441	352	1	distributional	distributional	ADJ
gujaf-441	352	2	effects	effect	NOUN
gujaf-441	352	3	of	of	ADP
gujaf-441	352	4	firm	firm	ADJ
gujaf-441	352	5	characteristics	characteristic	NOUN
gujaf-441	352	6	on	on	ADP
gujaf-441	352	7	leverage	leverage	NOUN
gujaf-441	352	8	:	:	PUNCT
gujaf-441	352	9	a	a	DET
gujaf-441	352	10	quantile	quantile	ADJ
gujaf-441	352	11	regression	regression	NOUN
gujaf-441	352	12	approach	approach	NOUN
gujaf-441	352	13	.	.	PUNCT
gujaf-441	353	1	finance	finance	NOUN
gujaf-441	353	2	research	research	NOUN
gujaf-441	353	3	letters	letter	NOUN
gujaf-441	353	4	,	,	PUNCT
gujaf-441	353	5	39	39	NUM
gujaf-441	353	6	,	,	PUNCT
gujaf-441	353	7	101602	101602	NUM
gujaf-441	353	8	.	.	PUNCT
gujaf-441	354	1	dinh	dinh	NOUN
gujaf-441	354	2	,	,	PUNCT
gujaf-441	354	3	t.	t.	PROPN
gujaf-441	354	4	q.	q.	PROPN
gujaf-441	354	5	,	,	PUNCT
gujaf-441	354	6	&	&	CCONJ
gujaf-441	354	7	nguyen	nguyen	PROPN
gujaf-441	354	8	,	,	PUNCT
gujaf-441	354	9	d.	d.	PROPN
gujaf-441	354	10	k.	k.	PROPN
gujaf-441	354	11	(	(	PUNCT
gujaf-441	354	12	2024	2024	NUM
gujaf-441	354	13	)	)	PUNCT
gujaf-441	354	14	.	.	PUNCT
gujaf-441	355	1	macroeconomic	macroeconomic	ADJ
gujaf-441	355	2	volatility	volatility	NOUN
gujaf-441	355	3	and	and	CCONJ
gujaf-441	355	4	firm	firm	ADJ
gujaf-441	355	5	financial	financial	ADJ
gujaf-441	355	6	policies	policy	NOUN
gujaf-441	355	7	:	:	PUNCT
gujaf-441	355	8	evidence	evidence	NOUN
gujaf-441	355	9	from	from	ADP
gujaf-441	355	10	vietnam‘s	vietnam‘s	PROPN
gujaf-441	355	11	smes	sme	NOUN
gujaf-441	355	12	.	.	PUNCT
gujaf-441	356	1	economic	economic	ADJ
gujaf-441	356	2	modelling	modelling	NOUN
gujaf-441	356	3	,	,	PUNCT
gujaf-441	356	4	130	130	NUM
gujaf-441	356	5	,	,	PUNCT
gujaf-441	356	6	106408	106408	NUM
gujaf-441	356	7	.	.	PUNCT
gujaf-441	357	1	dinh	dinh	NOUN
gujaf-441	357	2	,	,	PUNCT
gujaf-441	357	3	t.q	t.q	PROPN
gujaf-441	357	4	.	.	PROPN
gujaf-441	357	5	,&pham	,&pham	PUNCT
gujaf-441	357	6	,	,	PUNCT
gujaf-441	357	7	t.(2020).macroeconomicconditionsandcapitalstructureofsmesin	t.(2020).macroeconomicconditionsandcapitalstructureofsmesin	NOUN
gujaf-441	357	8	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	357	9	,	,	PUNCT
gujaf-441	357	10	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	357	11	437	437	NUM
gujaf-441	357	12	asia	asia	NOUN
gujaf-441	357	13	:	:	PUNCT
gujaf-441	357	14	evidencefrompaneldata.economicmodelling,89	evidencefrompaneldata.economicmodelling,89	PROPN
gujaf-441	357	15	,	,	PUNCT
gujaf-441	357	16	1–12	1–12	NOUN
gujaf-441	357	17	.	.	PUNCT
gujaf-441	358	1	habib	habib	PROPN
gujaf-441	358	2	,	,	PUNCT
gujaf-441	358	3	m.	m.	NOUN
gujaf-441	358	4	a.	a.	PROPN
gujaf-441	358	5	,	,	PUNCT
gujaf-441	358	6	hossain	hossain	PROPN
gujaf-441	358	7	,	,	PUNCT
gujaf-441	358	8	m.	m.	PROPN
gujaf-441	358	9	e.	e.	PROPN
gujaf-441	358	10	,	,	PUNCT
gujaf-441	358	11	&	&	CCONJ
gujaf-441	358	12	khan	khan	PROPN
gujaf-441	358	13	,	,	PUNCT
gujaf-441	358	14	m.	m.	NOUN
gujaf-441	358	15	s.	s.	PROPN
gujaf-441	358	16	(	(	PUNCT
gujaf-441	358	17	2017	2017	NUM
gujaf-441	358	18	)	)	PUNCT
gujaf-441	358	19	.	.	PUNCT
gujaf-441	359	1	determinants	determinant	NOUN
gujaf-441	359	2	of	of	ADP
gujaf-441	359	3	capital	capital	NOUN
gujaf-441	359	4	structure	structure	NOUN
gujaf-441	359	5	of	of	ADP
gujaf-441	359	6	smes	sme	NOUN
gujaf-441	359	7	in	in	ADP
gujaf-441	359	8	bangladesh	bangladesh	PROPN
gujaf-441	359	9	.	.	PUNCT
gujaf-441	360	1	journal	journal	PROPN
gujaf-441	360	2	of	of	ADP
gujaf-441	360	3	small	small	ADJ
gujaf-441	360	4	business	business	NOUN
gujaf-441	360	5	and	and	CCONJ
gujaf-441	360	6	enterprise	enterprise	NOUN
gujaf-441	360	7	development	development	NOUN
gujaf-441	360	8	,	,	PUNCT
gujaf-441	360	9	24(1	24(1	NUM
gujaf-441	360	10	)	)	PUNCT
gujaf-441	360	11	,	,	PUNCT
gujaf-441	360	12	105–118	105–118	NUM
gujaf-441	360	13	.	.	PUNCT
gujaf-441	361	1	ibrahim	ibrahim	PROPN
gujaf-441	361	2	,	,	PUNCT
gujaf-441	361	3	d.	d.	PROPN
gujaf-441	361	4	m.	m.	PROPN
gujaf-441	361	5	,	,	PUNCT
gujaf-441	361	6	&	&	CCONJ
gujaf-441	361	7	how	how	SCONJ
gujaf-441	361	8	,	,	PUNCT
gujaf-441	361	9	j.	j.	PROPN
gujaf-441	361	10	(	(	PUNCT
gujaf-441	361	11	2017	2017	NUM
gujaf-441	361	12	)	)	PUNCT
gujaf-441	361	13	.	.	PUNCT
gujaf-441	362	1	firm	firm	ADJ
gujaf-441	362	2	size	size	NOUN
gujaf-441	362	3	and	and	CCONJ
gujaf-441	362	4	capital	capital	NOUN
gujaf-441	362	5	structure	structure	NOUN
gujaf-441	362	6	decisions	decision	NOUN
gujaf-441	362	7	in	in	ADP
gujaf-441	362	8	emerging	emerge	VERB
gujaf-441	362	9	economies	economy	NOUN
gujaf-441	362	10	.	.	PUNCT
gujaf-441	363	1	journal	journal	NOUN
gujaf-441	363	2	of	of	ADP
gujaf-441	363	3	multinational	multinational	ADJ
gujaf-441	363	4	financial	financial	ADJ
gujaf-441	363	5	management	management	NOUN
gujaf-441	363	6	,	,	PUNCT
gujaf-441	363	7	40	40	NUM
gujaf-441	363	8	,	,	PUNCT
gujaf-441	363	9	30–46	30–46	NUM
gujaf-441	363	10	.	.	PUNCT
gujaf-441	364	1	jensen	jensen	PROPN
gujaf-441	364	2	,	,	PUNCT
gujaf-441	364	3	m.	m.	PROPN
gujaf-441	364	4	c.	c.	PROPN
gujaf-441	364	5	,	,	PUNCT
gujaf-441	364	6	&	&	CCONJ
gujaf-441	364	7	meckling	meckling	PROPN
gujaf-441	364	8	,	,	PUNCT
gujaf-441	364	9	w.	w.	PROPN
gujaf-441	364	10	h.	h.	PROPN
gujaf-441	364	11	(	(	PUNCT
gujaf-441	364	12	1976	1976	NUM
gujaf-441	364	13	)	)	PUNCT
gujaf-441	364	14	.	.	PUNCT
gujaf-441	365	1	theory	theory	NOUN
gujaf-441	365	2	of	of	ADP
gujaf-441	365	3	the	the	DET
gujaf-441	365	4	firm	firm	NOUN
gujaf-441	365	5	:	:	PUNCT
gujaf-441	365	6	managerial	managerial	ADJ
gujaf-441	365	7	behavior	behavior	NOUN
gujaf-441	365	8	,	,	PUNCT
gujaf-441	365	9	agency	agency	NOUN
gujaf-441	365	10	costs	cost	NOUN
gujaf-441	365	11	and	and	CCONJ
gujaf-441	365	12	ownership	ownership	NOUN
gujaf-441	365	13	structure	structure	NOUN
gujaf-441	365	14	.	.	PUNCT
gujaf-441	366	1	journal	journal	NOUN
gujaf-441	366	2	of	of	ADP
gujaf-441	366	3	financial	financial	ADJ
gujaf-441	366	4	economics	economic	NOUN
gujaf-441	366	5	,	,	PUNCT
gujaf-441	366	6	3(4	3(4	NUM
gujaf-441	366	7	)	)	PUNCT
gujaf-441	366	8	,	,	PUNCT
gujaf-441	366	9	305–360	305–360	NUM
gujaf-441	366	10	.	.	PUNCT
gujaf-441	367	1	karadag	karadag	PROPN
gujaf-441	367	2	,	,	PUNCT
gujaf-441	367	3	h.	h.	PROPN
gujaf-441	367	4	(	(	PUNCT
gujaf-441	367	5	2020	2020	NUM
gujaf-441	367	6	)	)	PUNCT
gujaf-441	367	7	.	.	PUNCT
gujaf-441	368	1	financial	financial	ADJ
gujaf-441	368	2	management	management	NOUN
gujaf-441	368	3	challenges	challenge	NOUN
gujaf-441	368	4	in	in	ADP
gujaf-441	368	5	small	small	ADJ
gujaf-441	368	6	and	and	CCONJ
gujaf-441	368	7	medium	medium	ADJ
gujaf-441	368	8	-	-	PUNCT
gujaf-441	368	9	sizedenterprises	sizedenterprise	NOUN
gujaf-441	368	10	:	:	PUNCT
gujaf-441	368	11	a	a	DET
gujaf-441	368	12	strategic	strategic	ADJ
gujaf-441	368	13	management	management	NOUN
gujaf-441	368	14	approach	approach	NOUN
gujaf-441	368	15	.	.	PUNCT
gujaf-441	369	1	emerging	emerge	VERB
gujaf-441	369	2	markets	market	NOUN
gujaf-441	369	3	journal	journal	NOUN
gujaf-441	369	4	,	,	PUNCT
gujaf-441	369	5	10(1	10(1	NUM
gujaf-441	369	6	)	)	PUNCT
gujaf-441	369	7	,	,	PUNCT
gujaf-441	369	8	25–35	25–35	NUM
gujaf-441	369	9	.	.	PUNCT
gujaf-441	370	1	kaufmann	kaufmann	PROPN
gujaf-441	370	2	,	,	PUNCT
gujaf-441	370	3	d.	d.	PROPN
gujaf-441	370	4	,	,	PUNCT
gujaf-441	370	5	kraay	kraay	PROPN
gujaf-441	370	6	,	,	PUNCT
gujaf-441	370	7	a.	a.	NOUN
gujaf-441	370	8	,	,	PUNCT
gujaf-441	370	9	&	&	CCONJ
gujaf-441	370	10	mastruzzi	mastruzzi	PROPN
gujaf-441	370	11	,	,	PUNCT
gujaf-441	370	12	m.	m.	NOUN
gujaf-441	370	13	(	(	PUNCT
gujaf-441	370	14	2022	2022	NUM
gujaf-441	370	15	)	)	PUNCT
gujaf-441	370	16	.	.	PUNCT
gujaf-441	371	1	the	the	DET
gujaf-441	371	2	worldwide	worldwide	ADJ
gujaf-441	371	3	governance	governance	NOUN
gujaf-441	371	4	indicators	indicator	NOUN
gujaf-441	371	5	:	:	PUNCT
gujaf-441	371	6	methodology	methodology	NOUN
gujaf-441	371	7	and	and	CCONJ
gujaf-441	371	8	analytical	analytical	ADJ
gujaf-441	371	9	issues	issue	NOUN
gujaf-441	371	10	.	.	PUNCT
gujaf-441	372	1	world	world	PROPN
gujaf-441	372	2	bank	bank	PROPN
gujaf-441	372	3	policy	policy	NOUN
gujaf-441	372	4	research	research	NOUN
gujaf-441	372	5	working	working	NOUN
gujaf-441	372	6	paper	paper	NOUN
gujaf-441	372	7	.	.	PUNCT
gujaf-441	373	1	kebede	kebede	PROPN
gujaf-441	373	2	,	,	PUNCT
gujaf-441	373	3	b.(2021).economicdownturnsandsmecapitalstructure	b.(2021).economicdownturnsandsmecapitalstructure	NOUN
gujaf-441	373	4	:	:	PUNCT
gujaf-441	373	5	evidencefromethiopia	evidencefromethiopia	PROPN
gujaf-441	373	6	.	.	PUNCT
gujaf-441	373	7	journalofafrican	journalofafrican	PROPN
gujaf-441	373	8	business,22(4),512–534	business,22(4),512–534	PROPN
gujaf-441	373	9	.	.	PUNCT
gujaf-441	374	1	kebede	kebede	PROPN
gujaf-441	374	2	,	,	PUNCT
gujaf-441	374	3	b.	b.	PROPN
gujaf-441	374	4	,	,	PUNCT
gujaf-441	374	5	&	&	CCONJ
gujaf-441	374	6	kuar	kuar	PROPN
gujaf-441	374	7	,	,	PUNCT
gujaf-441	374	8	b.	b.	PROPN
gujaf-441	374	9	(	(	PUNCT
gujaf-441	374	10	2021	2021	NUM
gujaf-441	374	11	)	)	PUNCT
gujaf-441	374	12	.	.	PUNCT
gujaf-441	375	1	macroeconomic	macroeconomic	ADJ
gujaf-441	375	2	determinants	determinant	NOUN
gujaf-441	375	3	of	of	ADP
gujaf-441	375	4	corporate	corporate	ADJ
gujaf-441	375	5	capital	capital	NOUN
gujaf-441	375	6	structure	structure	NOUN
gujaf-441	375	7	:	:	PUNCT
gujaf-441	375	8	panel	panel	NOUN
gujaf-441	375	9	evidence	evidence	NOUN
gujaf-441	375	10	from	from	ADP
gujaf-441	375	11	african	african	ADJ
gujaf-441	375	12	smes	sme	NOUN
gujaf-441	375	13	.	.	PUNCT
gujaf-441	376	1	journal	journal	PROPN
gujaf-441	376	2	of	of	ADP
gujaf-441	376	3	african	african	ADJ
gujaf-441	376	4	business	business	NOUN
gujaf-441	376	5	,	,	PUNCT
gujaf-441	376	6	22(3	22(3	NUM
gujaf-441	376	7	)	)	PUNCT
gujaf-441	376	8	,	,	PUNCT
gujaf-441	376	9	327–349	327–349	NUM
gujaf-441	376	10	.	.	PUNCT
gujaf-441	377	1	khan	khan	PROPN
gujaf-441	377	2	,	,	PUNCT
gujaf-441	377	3	a.	a.	PROPN
gujaf-441	377	4	,	,	PUNCT
gujaf-441	377	5	khan	khan	PROPN
gujaf-441	377	6	,	,	PUNCT
gujaf-441	377	7	m.	m.	NOUN
gujaf-441	377	8	m.	m.	NOUN
gujaf-441	377	9	,	,	PUNCT
gujaf-441	377	10	&	&	CCONJ
gujaf-441	377	11	jan	jan	PROPN
gujaf-441	377	12	,	,	PUNCT
gujaf-441	377	13	i.	i.	PROPN
gujaf-441	377	14	(	(	PUNCT
gujaf-441	377	15	2020	2020	NUM
gujaf-441	377	16	)	)	PUNCT
gujaf-441	377	17	.	.	PUNCT
gujaf-441	378	1	the	the	DET
gujaf-441	378	2	impact	impact	NOUN
gujaf-441	378	3	of	of	ADP
gujaf-441	378	4	interest	interest	NOUN
gujaf-441	378	5	rate	rate	NOUN
gujaf-441	378	6	changes	change	NOUN
gujaf-441	378	7	on	on	ADP
gujaf-441	378	8	firm	firm	ADJ
gujaf-441	378	9	financing	financing	NOUN
gujaf-441	378	10	choices	choice	NOUN
gujaf-441	378	11	.	.	PUNCT
gujaf-441	379	1	international	international	ADJ
gujaf-441	379	2	journal	journal	PROPN
gujaf-441	379	3	of	of	ADP
gujaf-441	379	4	finance	finance	PROPN
gujaf-441	379	5	&	&	CCONJ
gujaf-441	379	6	economics	economic	NOUN
gujaf-441	379	7	,	,	PUNCT
gujaf-441	379	8	25(3	25(3	NUM
gujaf-441	379	9	)	)	PUNCT
gujaf-441	379	10	,	,	PUNCT
gujaf-441	379	11	447–463	447–463	NUM
gujaf-441	379	12	.	.	PUNCT
gujaf-441	380	1	kungu	kungu	PROPN
gujaf-441	380	2	,	,	PUNCT
gujaf-441	380	3	g.	g.	PROPN
gujaf-441	380	4	,ouma	,ouma	PROPN
gujaf-441	380	5	,	,	PUNCT
gujaf-441	380	6	s.	s.	PROPN
gujaf-441	380	7	,&muturi	,&muturi	PROPN
gujaf-441	380	8	,	,	PUNCT
gujaf-441	380	9	w.(2020).sizeandleveragedecisionsofsmesinkenya	w.(2020).sizeandleveragedecisionsofsmesinkenya	PROPN
gujaf-441	380	10	.	.	PUNCT
gujaf-441	381	1	internationaljournaloffinanceandeconomics,25(3),378–392	internationaljournaloffinanceandeconomics,25(3),378–392	PROPN
gujaf-441	381	2	.	.	PUNCT
gujaf-441	382	1	machokoto	machokoto	NOUN
gujaf-441	382	2	,	,	PUNCT
gujaf-441	382	3	m.	m.	NOUN
gujaf-441	382	4	,	,	PUNCT
gujaf-441	382	5	&	&	CCONJ
gujaf-441	382	6	areneke	areneke	ADJ
gujaf-441	382	7	,	,	PUNCT
gujaf-441	382	8	g.	g.	PROPN
gujaf-441	382	9	(	(	PUNCT
gujaf-441	382	10	2021	2021	NUM
gujaf-441	382	11	)	)	PUNCT
gujaf-441	382	12	.	.	PUNCT
gujaf-441	383	1	capital	capital	NOUN
gujaf-441	383	2	structure	structure	NOUN
gujaf-441	383	3	dynamics	dynamic	NOUN
gujaf-441	383	4	:	:	PUNCT
gujaf-441	383	5	quantile	quantile	ADJ
gujaf-441	383	6	regression	regression	NOUN
gujaf-441	383	7	evidence	evidence	NOUN
gujaf-441	383	8	from	from	ADP
gujaf-441	383	9	african	african	ADJ
gujaf-441	383	10	smes	sme	NOUN
gujaf-441	383	11	.	.	PUNCT
gujaf-441	384	1	accounting	accounting	NOUN
gujaf-441	384	2	and	and	CCONJ
gujaf-441	384	3	finance	finance	NOUN
gujaf-441	384	4	,	,	PUNCT
gujaf-441	384	5	61(s1	61(s1	NUM
gujaf-441	384	6	)	)	PUNCT
gujaf-441	384	7	,	,	PUNCT
gujaf-441	384	8	97–130	97–130	PROPN
gujaf-441	384	9	.	.	PUNCT
gujaf-441	385	1	machokoto	machokoto	PROPN
gujaf-441	385	2	,	,	PUNCT
gujaf-441	385	3	m.	m.	NOUN
gujaf-441	385	4	,	,	PUNCT
gujaf-441	385	5	areneke	areneke	ADJ
gujaf-441	385	6	,	,	PUNCT
gujaf-441	385	7	g.	g.	PROPN
gujaf-441	385	8	,	,	PUNCT
gujaf-441	385	9	&	&	CCONJ
gujaf-441	385	10	ibrahim	ibrahim	PROPN
gujaf-441	385	11	,	,	PUNCT
gujaf-441	385	12	s.	s.	PROPN
gujaf-441	385	13	(	(	PUNCT
gujaf-441	385	14	2021	2021	NUM
gujaf-441	385	15	)	)	PUNCT
gujaf-441	385	16	.	.	PUNCT
gujaf-441	386	1	capital	capital	NOUN
gujaf-441	386	2	structure	structure	NOUN
gujaf-441	386	3	and	and	CCONJ
gujaf-441	386	4	financial	financial	ADJ
gujaf-441	386	5	performance	performance	NOUN
gujaf-441	386	6	:	:	PUNCT
gujaf-441	386	7	evidence	evidence	NOUN
gujaf-441	386	8	from	from	ADP
gujaf-441	386	9	quantile	quantile	ADJ
gujaf-441	386	10	regression	regression	NOUN
gujaf-441	386	11	.	.	PUNCT
gujaf-441	387	1	accounting	accounting	NOUN
gujaf-441	387	2	and	and	CCONJ
gujaf-441	387	3	finance	finance	NOUN
gujaf-441	387	4	,	,	PUNCT
gujaf-441	387	5	61(s1	61(s1	NUM
gujaf-441	387	6	)	)	PUNCT
gujaf-441	387	7	,	,	PUNCT
gujaf-441	387	8	97–130	97–130	PROPN
gujaf-441	387	9	.	.	PUNCT
gujaf-441	387	10	mensah	mensah	PROPN
gujaf-441	387	11	,	,	PUNCT
gujaf-441	387	12	i.	i.	PROPN
gujaf-441	387	13	a.	a.	PROPN
gujaf-441	387	14	,	,	PUNCT
gujaf-441	387	15	&	&	CCONJ
gujaf-441	387	16	sarpong	sarpong	PROPN
gujaf-441	387	17	,	,	PUNCT
gujaf-441	387	18	s.	s.	PROPN
gujaf-441	387	19	(	(	PUNCT
gujaf-441	387	20	2023	2023	NUM
gujaf-441	387	21	)	)	PUNCT
gujaf-441	387	22	.	.	PUNCT
gujaf-441	388	1	macroeconomic	macroeconomic	ADJ
gujaf-441	388	2	instability	instability	NOUN
gujaf-441	388	3	and	and	CCONJ
gujaf-441	388	4	capital	capital	NOUN
gujaf-441	388	5	structure	structure	NOUN
gujaf-441	388	6	decisions	decision	NOUN
gujaf-441	388	7	of	of	ADP
gujaf-441	388	8	african	african	ADJ
gujaf-441	388	9	smes	sme	NOUN
gujaf-441	388	10	:	:	PUNCT
gujaf-441	388	11	a	a	DET
gujaf-441	388	12	panel	panel	NOUN
gujaf-441	388	13	data	data	VERB
gujaf-441	388	14	analysis	analysis	NOUN
gujaf-441	388	15	.	.	PUNCT
gujaf-441	389	1	journal	journal	NOUN
gujaf-441	389	2	of	of	ADP
gujaf-441	389	3	economic	economic	ADJ
gujaf-441	389	4	studies	study	NOUN
gujaf-441	389	5	,	,	PUNCT
gujaf-441	389	6	50(1	50(1	NUM
gujaf-441	389	7	)	)	PUNCT
gujaf-441	389	8	,	,	PUNCT
gujaf-441	389	9	25–44	25–44	NUM
gujaf-441	389	10	.	.	PUNCT
gujaf-441	390	1	mensah	mensah	PROPN
gujaf-441	390	2	,	,	PUNCT
gujaf-441	390	3	i.	i.	PROPN
gujaf-441	390	4	a.	a.	PROPN
gujaf-441	390	5	,	,	PUNCT
gujaf-441	390	6	sarpong	sarpong	PROPN
gujaf-441	390	7	,	,	PUNCT
gujaf-441	390	8	s.	s.	PROPN
gujaf-441	390	9	,	,	PUNCT
gujaf-441	390	10	&	&	CCONJ
gujaf-441	390	11	asiedu	asiedu	PROPN
gujaf-441	390	12	,	,	PUNCT
gujaf-441	390	13	m.	m.	NOUN
gujaf-441	390	14	(	(	PUNCT
gujaf-441	390	15	2023	2023	NUM
gujaf-441	390	16	)	)	PUNCT
gujaf-441	390	17	.	.	PUNCT
gujaf-441	391	1	multicollinearity	multicollinearity	NOUN
gujaf-441	391	2	and	and	CCONJ
gujaf-441	391	3	model	model	NOUN
gujaf-441	391	4	diagnostics	diagnostic	NOUN
gujaf-441	391	5	in	in	ADP
gujaf-441	391	6	energy	energy	NOUN
gujaf-441	391	7	-	-	PUNCT
gujaf-441	391	8	environment	environment	NOUN
gujaf-441	391	9	research	research	NOUN
gujaf-441	391	10	:	:	PUNCT
gujaf-441	391	11	a	a	DET
gujaf-441	391	12	monte	monte	PROPN
gujaf-441	391	13	carlo	carlo	PROPN
gujaf-441	391	14	study	study	PROPN
gujaf-441	391	15	.	.	PUNCT
gujaf-441	392	1	energy	energy	NOUN
gujaf-441	392	2	economics	economic	NOUN
gujaf-441	392	3	,	,	PUNCT
gujaf-441	392	4	122	122	NUM
gujaf-441	392	5	,	,	PUNCT
gujaf-441	392	6	106625	106625	NUM
gujaf-441	392	7	.	.	PUNCT
gujaf-441	393	1	mensah	mensah	PROPN
gujaf-441	393	2	,	,	PUNCT
gujaf-441	393	3	i.	i.	PROPN
gujaf-441	393	4	a.	a.	PROPN
gujaf-441	393	5	,	,	PUNCT
gujaf-441	393	6	sarpong	sarpong	PROPN
gujaf-441	393	7	,	,	PUNCT
gujaf-441	393	8	s.	s.	PROPN
gujaf-441	393	9	,	,	PUNCT
gujaf-441	393	10	&	&	CCONJ
gujaf-441	393	11	asiedu	asiedu	PROPN
gujaf-441	393	12	,	,	PUNCT
gujaf-441	393	13	m.	m.	NOUN
gujaf-441	393	14	(	(	PUNCT
gujaf-441	393	15	2024	2024	NUM
gujaf-441	393	16	)	)	PUNCT
gujaf-441	393	17	.	.	PUNCT
gujaf-441	394	1	macroeconomic	macroeconomic	ADJ
gujaf-441	394	2	volatility	volatility	NOUN
gujaf-441	394	3	and	and	CCONJ
gujaf-441	394	4	sme	sme	NOUN
gujaf-441	394	5	financing	financing	NOUN
gujaf-441	394	6	:	:	PUNCT
gujaf-441	394	7	new	new	ADJ
gujaf-441	394	8	evidence	evidence	NOUN
gujaf-441	394	9	from	from	ADP
gujaf-441	394	10	sub	sub	ADJ
gujaf-441	394	11	-	-	ADJ
gujaf-441	394	12	saharan	saharan	ADJ
gujaf-441	394	13	africa	africa	PROPN
gujaf-441	394	14	.	.	PUNCT
gujaf-441	395	1	small	small	ADJ
gujaf-441	395	2	business	business	NOUN
gujaf-441	395	3	economics	economic	NOUN
gujaf-441	395	4	,	,	PUNCT
gujaf-441	395	5	63(2	63(2	NUM
gujaf-441	395	6	)	)	PUNCT
gujaf-441	395	7	,	,	PUNCT
gujaf-441	395	8	355–376	355–376	NUM
gujaf-441	395	9	.	.	PUNCT
gujaf-441	396	1	mukherjee	mukherjee	PROPN
gujaf-441	396	2	,	,	PUNCT
gujaf-441	396	3	s.	s.	PROPN
gujaf-441	396	4	,	,	PUNCT
gujaf-441	396	5	basu	basu	PROPN
gujaf-441	396	6	,	,	PUNCT
gujaf-441	396	7	s.	s.	PROPN
gujaf-441	396	8	,	,	PUNCT
gujaf-441	396	9	&	&	CCONJ
gujaf-441	396	10	sen	sen	PROPN
gujaf-441	396	11	,	,	PUNCT
gujaf-441	396	12	s.	s.	PROPN
gujaf-441	396	13	(	(	PUNCT
gujaf-441	396	14	2019	2019	NUM
gujaf-441	396	15	)	)	PUNCT
gujaf-441	396	16	.	.	PUNCT
gujaf-441	397	1	determinants	determinant	NOUN
gujaf-441	397	2	of	of	ADP
gujaf-441	397	3	capital	capital	NOUN
gujaf-441	397	4	structure	structure	NOUN
gujaf-441	397	5	in	in	ADP
gujaf-441	397	6	indian	indian	ADJ
gujaf-441	397	7	smes	sme	NOUN
gujaf-441	397	8	:	:	PUNCT
gujaf-441	397	9	a	a	DET
gujaf-441	397	10	quantile	quantile	ADJ
gujaf-441	397	11	regression	regression	NOUN
gujaf-441	397	12	approach	approach	NOUN
gujaf-441	397	13	.	.	PUNCT
gujaf-441	398	1	journal	journal	NOUN
gujaf-441	398	2	of	of	ADP
gujaf-441	398	3	small	small	ADJ
gujaf-441	398	4	business	business	NOUN
gujaf-441	398	5	management	management	NOUN
gujaf-441	398	6	,	,	PUNCT
gujaf-441	398	7	57(2	57(2	NUM
gujaf-441	398	8	)	)	PUNCT
gujaf-441	398	9	,	,	PUNCT
gujaf-441	398	10	547–569	547–569	NUM
gujaf-441	398	11	.	.	PUNCT
gujaf-441	399	1	myers	myers	PROPN
gujaf-441	399	2	,	,	PUNCT
gujaf-441	399	3	s.	s.	PROPN
gujaf-441	399	4	c.	c.	PROPN
gujaf-441	399	5	,	,	PUNCT
gujaf-441	399	6	&	&	CCONJ
gujaf-441	399	7	majluf	majluf	PROPN
gujaf-441	399	8	,	,	PUNCT
gujaf-441	399	9	n.	n.	PROPN
gujaf-441	399	10	s.	s.	PROPN
gujaf-441	399	11	(	(	PUNCT
gujaf-441	399	12	1984	1984	NUM
gujaf-441	399	13	)	)	PUNCT
gujaf-441	399	14	.	.	PUNCT
gujaf-441	400	1	corporate	corporate	ADJ
gujaf-441	400	2	financing	financing	NOUN
gujaf-441	400	3	and	and	CCONJ
gujaf-441	400	4	investment	investment	NOUN
gujaf-441	400	5	decisions	decision	NOUN
gujaf-441	400	6	when	when	SCONJ
gujaf-441	400	7	firms	firm	NOUN
gujaf-441	400	8	have	have	VERB
gujaf-441	400	9	information	information	NOUN
gujaf-441	400	10	that	that	SCONJ
gujaf-441	400	11	investors	investor	NOUN
gujaf-441	400	12	do	do	AUX
gujaf-441	400	13	not	not	PART
gujaf-441	400	14	have	have	VERB
gujaf-441	400	15	.	.	PUNCT
gujaf-441	401	1	journal	journal	NOUN
gujaf-441	401	2	of	of	ADP
gujaf-441	401	3	financial	financial	ADJ
gujaf-441	401	4	economics	economic	NOUN
gujaf-441	401	5	,	,	PUNCT
gujaf-441	401	6	13(2	13(2	PROPN
gujaf-441	401	7	)	)	PUNCT
gujaf-441	401	8	,	,	PUNCT
gujaf-441	401	9	187–221	187–221	NUM
gujaf-441	401	10	.	.	PUNCT
gujaf-441	402	1	gusaujournalofaccountingandfinance	gusaujournalofaccountingandfinance	NOUN
gujaf-441	402	2	,	,	PUNCT
gujaf-441	402	3	vol.5,issue1,april,2024	vol.5,issue1,april,2024	PROPN
gujaf-441	402	4	438	438	NUM
gujaf-441	402	5	nguyen	nguyen	NOUN
gujaf-441	402	6	,	,	PUNCT
gujaf-441	402	7	t.	t.	PROPN
gujaf-441	402	8	h.	h.	PROPN
gujaf-441	402	9	,	,	PUNCT
gujaf-441	402	10	&	&	CCONJ
gujaf-441	402	11	nguyen	nguyen	PROPN
gujaf-441	402	12	,	,	PUNCT
gujaf-441	402	13	t.	t.	PROPN
gujaf-441	402	14	t.	t.	PROPN
gujaf-441	402	15	(	(	PUNCT
gujaf-441	402	16	2020	2020	NUM
gujaf-441	402	17	)	)	PUNCT
gujaf-441	402	18	.	.	PUNCT
gujaf-441	403	1	determinants	determinant	NOUN
gujaf-441	403	2	of	of	ADP
gujaf-441	403	3	sme	sme	PROPN
gujaf-441	403	4	capital	capital	NOUN
gujaf-441	403	5	structure	structure	NOUN
gujaf-441	403	6	:	:	PUNCT
gujaf-441	403	7	evidence	evidence	NOUN
gujaf-441	403	8	from	from	ADP
gujaf-441	403	9	an	an	DET
gujaf-441	403	10	emerging	emerge	VERB
gujaf-441	403	11	economy	economy	NOUN
gujaf-441	403	12	.	.	PUNCT
gujaf-441	404	1	cogent	cogent	NOUN
gujaf-441	404	2	business	business	PROPN
gujaf-441	404	3	&	&	CCONJ
gujaf-441	404	4	management	management	PROPN
gujaf-441	404	5	,	,	PUNCT
gujaf-441	404	6	7(1	7(1	NUM
gujaf-441	404	7	)	)	PUNCT
gujaf-441	404	8	,	,	PUNCT
gujaf-441	404	9	1779569	1779569	NUM
gujaf-441	404	10	.	.	PUNCT
gujaf-441	405	1	nguyen	nguyen	NOUN
gujaf-441	405	2	,	,	PUNCT
gujaf-441	405	3	t.	t.	PROPN
gujaf-441	405	4	p.	p.	PROPN
gujaf-441	405	5	,	,	PUNCT
gujaf-441	405	6	&	&	CCONJ
gujaf-441	405	7	ramachandran	ramachandran	PROPN
gujaf-441	405	8	,	,	PUNCT
gujaf-441	405	9	n.	n.	NOUN
gujaf-441	405	10	(	(	PUNCT
gujaf-441	405	11	2019	2019	NUM
gujaf-441	405	12	)	)	PUNCT
gujaf-441	405	13	.	.	PUNCT
gujaf-441	406	1	firm	firm	ADJ
gujaf-441	406	2	profitability	profitability	NOUN
gujaf-441	406	3	and	and	CCONJ
gujaf-441	406	4	leverage	leverage	NOUN
gujaf-441	406	5	:	:	PUNCT
gujaf-441	406	6	evidence	evidence	NOUN
gujaf-441	406	7	from	from	ADP
gujaf-441	406	8	vietnam	vietnam	PROPN
gujaf-441	406	9	smes	sme	NOUN
gujaf-441	406	10	.	.	PUNCT
gujaf-441	407	1	asian	asian	PROPN
gujaf-441	407	2	academy	academy	PROPN
gujaf-441	407	3	of	of	ADP
gujaf-441	407	4	management	management	PROPN
gujaf-441	407	5	journal	journal	PROPN
gujaf-441	407	6	of	of	ADP
gujaf-441	407	7	accounting	accounting	NOUN
gujaf-441	407	8	and	and	CCONJ
gujaf-441	407	9	finance	finance	NOUN
gujaf-441	407	10	,	,	PUNCT
gujaf-441	407	11	15(1	15(1	NUM
gujaf-441	407	12	)	)	PUNCT
gujaf-441	407	13	,	,	PUNCT
gujaf-441	407	14	71–90	71–90	NUM
gujaf-441	407	15	.	.	PUNCT
gujaf-441	407	16	nguyen	nguyen	NOUN
gujaf-441	407	17	,	,	PUNCT
gujaf-441	407	18	t.	t.	PROPN
gujaf-441	407	19	p.	p.	PROPN
gujaf-441	407	20	,	,	PUNCT
gujaf-441	407	21	&	&	CCONJ
gujaf-441	407	22	ramachandran	ramachandran	PROPN
gujaf-441	407	23	,	,	PUNCT
gujaf-441	407	24	n.	n.	PROPN
gujaf-441	407	25	(	(	PUNCT
gujaf-441	407	26	2020	2020	NUM
gujaf-441	407	27	)	)	PUNCT
gujaf-441	407	28	.	.	PUNCT
gujaf-441	408	1	firm	firm	ADJ
gujaf-441	408	2	profitability	profitability	NOUN
gujaf-441	408	3	and	and	CCONJ
gujaf-441	408	4	leverage	leverage	NOUN
gujaf-441	408	5	:	:	PUNCT
gujaf-441	408	6	evidence	evidence	NOUN
gujaf-441	408	7	from	from	ADP
gujaf-441	408	8	vietnam	vietnam	PROPN
gujaf-441	408	9	smes	sme	NOUN
gujaf-441	408	10	.	.	PUNCT
gujaf-441	409	1	asian	asian	PROPN
gujaf-441	409	2	academy	academy	PROPN
gujaf-441	409	3	of	of	ADP
gujaf-441	409	4	management	management	PROPN
gujaf-441	409	5	journal	journal	PROPN
gujaf-441	409	6	of	of	ADP
gujaf-441	409	7	accounting	accounting	NOUN
gujaf-441	409	8	and	and	CCONJ
gujaf-441	409	9	finance	finance	NOUN
gujaf-441	409	10	,	,	PUNCT
gujaf-441	409	11	16(1	16(1	NUM
gujaf-441	409	12	)	)	PUNCT
gujaf-441	409	13	,	,	PUNCT
gujaf-441	409	14	71–90	71–90	NUM
gujaf-441	409	15	.	.	PUNCT
gujaf-441	410	1	nnadi	nnadi	PROPN
gujaf-441	410	2	,	,	PUNCT
gujaf-441	410	3	m.	m.	NOUN
gujaf-441	410	4	,	,	PUNCT
gujaf-441	410	5	okpara	okpara	NOUN
gujaf-441	410	6	,	,	PUNCT
gujaf-441	410	7	j.	j.	PROPN
gujaf-441	410	8	o.	o.	PROPN
gujaf-441	410	9	,	,	PUNCT
gujaf-441	410	10	&	&	CCONJ
gujaf-441	410	11	tanna	tanna	PROPN
gujaf-441	410	12	,	,	PUNCT
gujaf-441	410	13	s.	s.	PROPN
gujaf-441	410	14	(	(	PUNCT
gujaf-441	410	15	2021	2021	NUM
gujaf-441	410	16	)	)	PUNCT
gujaf-441	410	17	.	.	PUNCT
gujaf-441	411	1	inflation	inflation	NOUN
gujaf-441	411	2	and	and	CCONJ
gujaf-441	411	3	corporate	corporate	ADJ
gujaf-441	411	4	debt	debt	NOUN
gujaf-441	411	5	:	:	PUNCT
gujaf-441	411	6	new	new	ADJ
gujaf-441	411	7	evidence	evidence	NOUN
gujaf-441	411	8	from	from	ADP
gujaf-441	411	9	emerging	emerge	VERB
gujaf-441	411	10	markets	market	NOUN
gujaf-441	411	11	.	.	PUNCT
gujaf-441	412	1	journal	journal	NOUN
gujaf-441	412	2	of	of	ADP
gujaf-441	412	3	economic	economic	ADJ
gujaf-441	412	4	studies	study	NOUN
gujaf-441	412	5	,	,	PUNCT
gujaf-441	412	6	48(7	48(7	NUM
gujaf-441	412	7	)	)	PUNCT
gujaf-441	412	8	,	,	PUNCT
gujaf-441	412	9	1277–1293	1277–1293	NUM
gujaf-441	412	10	.	.	PUNCT
gujaf-441	413	1	north	north	NOUN
gujaf-441	413	2	,	,	PUNCT
gujaf-441	413	3	d.	d.	PROPN
gujaf-441	413	4	c.	c.	PROPN
gujaf-441	413	5	(	(	PUNCT
gujaf-441	413	6	1990	1990	NUM
gujaf-441	413	7	)	)	PUNCT
gujaf-441	413	8	.	.	PUNCT
gujaf-441	414	1	institutions	institution	NOUN
gujaf-441	414	2	,	,	PUNCT
gujaf-441	414	3	institutional	institutional	ADJ
gujaf-441	414	4	change	change	NOUN
gujaf-441	414	5	and	and	CCONJ
gujaf-441	414	6	economic	economic	ADJ
gujaf-441	414	7	performance	performance	NOUN
gujaf-441	414	8	.	.	PUNCT
gujaf-441	415	1	cambridge	cambridge	PROPN
gujaf-441	415	2	university	university	PROPN
gujaf-441	415	3	press	press	NOUN
gujaf-441	415	4	.	.	PUNCT
gujaf-441	416	1	omisakin	omisakin	ADJ
gujaf-441	416	2	,	,	PUNCT
gujaf-441	416	3	o.	o.	NOUN
gujaf-441	416	4	a.	a.	PROPN
gujaf-441	416	5	,	,	PUNCT
gujaf-441	416	6	&	&	CCONJ
gujaf-441	416	7	adenuga	adenuga	PROPN
gujaf-441	416	8	,	,	PUNCT
gujaf-441	416	9	o.	o.	PROPN
gujaf-441	416	10	a.	a.	NOUN
gujaf-441	416	11	(	(	PUNCT
gujaf-441	416	12	2024	2024	NUM
gujaf-441	416	13	)	)	PUNCT
gujaf-441	416	14	.	.	PUNCT
gujaf-441	417	1	esg	esg	NOUN
gujaf-441	417	2	practices	practice	NOUN
gujaf-441	417	3	and	and	CCONJ
gujaf-441	417	4	sme	sme	NOUN
gujaf-441	417	5	access	access	NOUN
gujaf-441	417	6	to	to	ADP
gujaf-441	417	7	finance	finance	NOUN
gujaf-441	417	8	in	in	ADP
gujaf-441	417	9	nigeria	nigeria	PROPN
gujaf-441	417	10	.	.	PUNCT
gujaf-441	418	1	journal	journal	PROPN
gujaf-441	418	2	of	of	ADP
gujaf-441	418	3	sustainable	sustainable	ADJ
gujaf-441	418	4	finance	finance	NOUN
gujaf-441	418	5	&	&	CCONJ
gujaf-441	418	6	investment	investment	NOUN
gujaf-441	418	7	,	,	PUNCT
gujaf-441	418	8	14(2	14(2	NUM
gujaf-441	418	9	)	)	PUNCT
gujaf-441	418	10	,	,	PUNCT
gujaf-441	418	11	222–240	222–240	NUM
gujaf-441	418	12	.	.	PUNCT
gujaf-441	419	1	onjewu	onjewu	PROPN
gujaf-441	419	2	,	,	PUNCT
gujaf-441	419	3	a.	a.	PROPN
gujaf-441	419	4	k.	k.	PROPN
gujaf-441	419	5	e.	e.	PROPN
gujaf-441	419	6	,	,	PUNCT
gujaf-441	419	7	hashim	hashim	PROPN
gujaf-441	419	8	,	,	PUNCT
gujaf-441	419	9	m.	m.	PROPN
gujaf-441	419	10	k.	k.	PROPN
gujaf-441	419	11	,	,	PUNCT
gujaf-441	419	12	&	&	CCONJ
gujaf-441	419	13	hussain	hussain	PROPN
gujaf-441	419	14	,	,	PUNCT
gujaf-441	419	15	m.	m.	NOUN
gujaf-441	419	16	(	(	PUNCT
gujaf-441	419	17	2021	2021	NUM
gujaf-441	419	18	)	)	PUNCT
gujaf-441	419	19	.	.	PUNCT
gujaf-441	420	1	institutional	institutional	ADJ
gujaf-441	420	2	voids	void	NOUN
gujaf-441	420	3	and	and	CCONJ
gujaf-441	420	4	sme	sme	NOUN
gujaf-441	420	5	financing	financing	NOUN
gujaf-441	420	6	strategies	strategy	NOUN
gujaf-441	420	7	in	in	ADP
gujaf-441	420	8	africa	africa	PROPN
gujaf-441	420	9	.	.	PUNCT
gujaf-441	421	1	journal	journal	PROPN
gujaf-441	421	2	of	of	ADP
gujaf-441	421	3	small	small	ADJ
gujaf-441	421	4	business	business	NOUN
gujaf-441	421	5	management	management	NOUN
gujaf-441	421	6	,	,	PUNCT
gujaf-441	421	7	59(2	59(2	NUM
gujaf-441	421	8	)	)	PUNCT
gujaf-441	421	9	,	,	PUNCT
gujaf-441	421	10	313	313	NUM
gujaf-441	421	11	–	–	SYM
gujaf-441	421	12	337	337	NUM
gujaf-441	421	13	.	.	PUNCT
gujaf-441	422	1	osei	osei	PROPN
gujaf-441	422	2	-	-	PUNCT
gujaf-441	422	3	assibey	assibey	PROPN
gujaf-441	422	4	,	,	PUNCT
gujaf-441	422	5	e.	e.	PROPN
gujaf-441	422	6	,	,	PUNCT
gujaf-441	422	7	&	&	CCONJ
gujaf-441	422	8	bokpin	bokpin	NOUN
gujaf-441	422	9	,	,	PUNCT
gujaf-441	422	10	g.	g.	PROPN
gujaf-441	422	11	a.	a.	PROPN
gujaf-441	422	12	(	(	PUNCT
gujaf-441	422	13	2016	2016	NUM
gujaf-441	422	14	)	)	PUNCT
gujaf-441	422	15	.	.	PUNCT
gujaf-441	423	1	sme	sme	PROPN
gujaf-441	423	2	capital	capital	NOUN
gujaf-441	423	3	structure	structure	NOUN
gujaf-441	423	4	and	and	CCONJ
gujaf-441	423	5	institutional	institutional	ADJ
gujaf-441	423	6	environment	environment	NOUN
gujaf-441	423	7	:	:	PUNCT
gujaf-441	423	8	evidencefromwestafrica.journalofafrican	evidencefromwestafrica.journalofafrican	NUM
gujaf-441	423	9	business,17(2),226	business,17(2),226	NOUN
gujaf-441	423	10	–	–	PUNCT
gujaf-441	423	11	243	243	NUM
gujaf-441	423	12	.	.	PUNCT
gujaf-441	424	1	powell	powell	PROPN
gujaf-441	424	2	,	,	PUNCT
gujaf-441	424	3	d.	d.	PROPN
gujaf-441	424	4	(	(	PUNCT
gujaf-441	424	5	2020	2020	NUM
gujaf-441	424	6	)	)	PUNCT
gujaf-441	424	7	.	.	PUNCT
gujaf-441	425	1	quantile	quantile	ADJ
gujaf-441	425	2	regression	regression	NOUN
gujaf-441	425	3	with	with	ADP
gujaf-441	425	4	panel	panel	NOUN
gujaf-441	425	5	data	datum	NOUN
gujaf-441	425	6	:	:	PUNCT
gujaf-441	425	7	a	a	DET
gujaf-441	425	8	'	'	PUNCT
gujaf-441	425	9	within	within	NOUN
gujaf-441	425	10	'	'	PUNCT
gujaf-441	425	11	estimator	estimator	NOUN
gujaf-441	425	12	.	.	PUNCT
gujaf-441	426	1	quantitative	quantitative	ADJ
gujaf-441	426	2	economics	economic	NOUN
gujaf-441	426	3	,	,	PUNCT
gujaf-441	426	4	11(1	11(1	NUM
gujaf-441	426	5	)	)	PUNCT
gujaf-441	426	6	,	,	PUNCT
gujaf-441	426	7	101–132	101–132	NUM
gujaf-441	426	8	.	.	PUNCT
gujaf-441	427	1	ruiz	ruiz	NOUN
gujaf-441	427	2	,	,	PUNCT
gujaf-441	427	3	m.	m.	NOUN
gujaf-441	427	4	,	,	PUNCT
gujaf-441	427	5	&	&	CCONJ
gujaf-441	427	6	villalobos	villalobos	PROPN
gujaf-441	427	7	,	,	PUNCT
gujaf-441	427	8	d.	d.	PROPN
gujaf-441	427	9	(	(	PUNCT
gujaf-441	427	10	2024	2024	NUM
gujaf-441	427	11	)	)	PUNCT
gujaf-441	427	12	.	.	PUNCT
gujaf-441	428	1	capital	capital	NOUN
gujaf-441	428	2	structure	structure	NOUN
gujaf-441	428	3	of	of	ADP
gujaf-441	428	4	smes	sme	NOUN
gujaf-441	428	5	in	in	ADP
gujaf-441	428	6	latin	latin	PROPN
gujaf-441	428	7	america	america	PROPN
gujaf-441	428	8	:	:	PUNCT
gujaf-441	428	9	the	the	DET
gujaf-441	428	10	role	role	NOUN
gujaf-441	428	11	of	of	ADP
gujaf-441	428	12	age	age	NOUN
gujaf-441	428	13	and	and	CCONJ
gujaf-441	428	14	macroeconomic	macroeconomic	ADJ
gujaf-441	428	15	stability	stability	NOUN
gujaf-441	428	16	.	.	PUNCT
gujaf-441	429	1	small	small	ADJ
gujaf-441	429	2	business	business	NOUN
gujaf-441	429	3	economics	economic	NOUN
gujaf-441	429	4	,	,	PUNCT
gujaf-441	429	5	62(3	62(3	NOUN
gujaf-441	429	6	)	)	PUNCT
gujaf-441	429	7	,	,	PUNCT
gujaf-441	429	8	845–870	845–870	NUM
gujaf-441	429	9	.	.	PUNCT
gujaf-441	430	1	shah	shah	NOUN
gujaf-441	430	2	,	,	PUNCT
gujaf-441	430	3	s.	s.	PROPN
gujaf-441	430	4	z.	z.	PROPN
gujaf-441	430	5	a.	a.	PROPN
gujaf-441	430	6	,	,	PUNCT
gujaf-441	430	7	&	&	CCONJ
gujaf-441	430	8	khan	khan	PROPN
gujaf-441	430	9	,	,	PUNCT
gujaf-441	430	10	a.	a.	NOUN
gujaf-441	430	11	(	(	PUNCT
gujaf-441	430	12	2022	2022	NUM
gujaf-441	430	13	)	)	PUNCT
gujaf-441	430	14	.	.	PUNCT
gujaf-441	431	1	firm	firm	ADJ
gujaf-441	431	2	-	-	PUNCT
gujaf-441	431	3	specific	specific	ADJ
gujaf-441	431	4	determinants	determinant	NOUN
gujaf-441	431	5	of	of	ADP
gujaf-441	431	6	capital	capital	NOUN
gujaf-441	431	7	structure	structure	NOUN
gujaf-441	431	8	:	:	PUNCT
gujaf-441	431	9	new	new	ADJ
gujaf-441	431	10	evidence	evidence	NOUN
gujaf-441	431	11	from	from	ADP
gujaf-441	431	12	south	south	PROPN
gujaf-441	431	13	asia	asia	PROPN
gujaf-441	431	14	.	.	PUNCT
gujaf-441	432	1	journal	journal	PROPN
gujaf-441	432	2	of	of	ADP
gujaf-441	432	3	risk	risk	NOUN
gujaf-441	432	4	and	and	CCONJ
gujaf-441	432	5	financial	financial	ADJ
gujaf-441	432	6	management	management	NOUN
gujaf-441	432	7	,	,	PUNCT
gujaf-441	432	8	15(11),529	15(11),529	NUM
gujaf-441	432	9	.	.	PUNCT
gujaf-441	433	1	siddique	siddique	PROPN
gujaf-441	433	2	,	,	PUNCT
gujaf-441	433	3	s.	s.	PROPN
gujaf-441	433	4	,	,	PUNCT
gujaf-441	433	5	masood	masood	PROPN
gujaf-441	433	6	,	,	PUNCT
gujaf-441	433	7	o.	o.	PROPN
gujaf-441	433	8	,	,	PUNCT
gujaf-441	433	9	&	&	CCONJ
gujaf-441	433	10	lodhi	lodhi	PROPN
gujaf-441	433	11	,	,	PUNCT
gujaf-441	433	12	m.	m.	NOUN
gujaf-441	433	13	(	(	PUNCT
gujaf-441	433	14	2022	2022	NUM
gujaf-441	433	15	)	)	PUNCT
gujaf-441	433	16	.	.	PUNCT
gujaf-441	434	1	the	the	DET
gujaf-441	434	2	effects	effect	NOUN
gujaf-441	434	3	of	of	ADP
gujaf-441	434	4	monetary	monetary	ADJ
gujaf-441	434	5	policy	policy	NOUN
gujaf-441	434	6	on	on	ADP
gujaf-441	434	7	corporate	corporate	ADJ
gujaf-441	434	8	capital	capital	NOUN
gujaf-441	434	9	structure	structure	NOUN
gujaf-441	434	10	:	:	PUNCT
gujaf-441	434	11	evidence	evidence	NOUN
gujaf-441	434	12	from	from	ADP
gujaf-441	434	13	south	south	PROPN
gujaf-441	434	14	asia	asia	PROPN
gujaf-441	434	15	.	.	PUNCT
gujaf-441	435	1	journal	journal	PROPN
gujaf-441	435	2	of	of	ADP
gujaf-441	435	3	policy	policy	NOUN
gujaf-441	435	4	modeling	modeling	NOUN
gujaf-441	435	5	,	,	PUNCT
gujaf-441	435	6	44(4	44(4	NOUN
gujaf-441	435	7	)	)	PUNCT
gujaf-441	435	8	,	,	PUNCT
gujaf-441	435	9	748–765	748–765	NUM
gujaf-441	435	10	.	.	PUNCT
gujaf-441	436	1	singh	singh	PROPN
gujaf-441	436	2	,	,	PUNCT
gujaf-441	436	3	r.	r.	PROPN
gujaf-441	436	4	,	,	PUNCT
gujaf-441	436	5	&	&	CCONJ
gujaf-441	436	6	sharma	sharma	PROPN
gujaf-441	436	7	,	,	PUNCT
gujaf-441	436	8	a.	a.	NOUN
gujaf-441	436	9	(	(	PUNCT
gujaf-441	436	10	2021	2021	NUM
gujaf-441	436	11	)	)	PUNCT
gujaf-441	436	12	.	.	PUNCT
gujaf-441	437	1	firm	firm	ADJ
gujaf-441	437	2	size	size	NOUN
gujaf-441	437	3	and	and	CCONJ
gujaf-441	437	4	capital	capital	NOUN
gujaf-441	437	5	structure	structure	NOUN
gujaf-441	437	6	:	:	PUNCT
gujaf-441	437	7	revisiting	revisit	VERB
gujaf-441	437	8	the	the	DET
gujaf-441	437	9	pecking	pecking	NOUN
gujaf-441	437	10	order	order	NOUN
gujaf-441	437	11	theory	theory	NOUN
gujaf-441	437	12	in	in	ADP
gujaf-441	437	13	emerging	emerge	VERB
gujaf-441	437	14	economies	economy	NOUN
gujaf-441	437	15	.	.	PUNCT
gujaf-441	438	1	managerial	managerial	ADJ
gujaf-441	438	2	finance	finance	NOUN
gujaf-441	438	3	,	,	PUNCT
gujaf-441	438	4	47(1	47(1	NUM
gujaf-441	438	5	)	)	PUNCT
gujaf-441	438	6	,	,	PUNCT
gujaf-441	438	7	38–58	38–58	PROPN
gujaf-441	438	8	.	.	PUNCT
gujaf-441	439	1	wang	wang	PROPN
gujaf-441	439	2	,	,	PUNCT
gujaf-441	439	3	m.	m.	NOUN
gujaf-441	439	4	,	,	PUNCT
gujaf-441	439	5	&	&	CCONJ
gujaf-441	439	6	yung	yung	PROPN
gujaf-441	439	7	,	,	PUNCT
gujaf-441	439	8	k.	k.	PROPN
gujaf-441	439	9	(	(	PUNCT
gujaf-441	439	10	2022	2022	NUM
gujaf-441	439	11	)	)	PUNCT
gujaf-441	439	12	.	.	PUNCT
gujaf-441	440	1	quantile	quantile	ADJ
gujaf-441	440	2	regression	regression	NOUN
gujaf-441	440	3	analysis	analysis	NOUN
gujaf-441	440	4	of	of	ADP
gujaf-441	440	5	capital	capital	NOUN
gujaf-441	440	6	structure	structure	NOUN
gujaf-441	440	7	determinants	determinant	NOUN
gujaf-441	440	8	in	in	ADP
gujaf-441	440	9	emerging	emerge	VERB
gujaf-441	440	10	markets	market	NOUN
gujaf-441	440	11	.	.	PUNCT
gujaf-441	441	1	finance	finance	NOUN
gujaf-441	441	2	research	research	NOUN
gujaf-441	441	3	letters	letter	NOUN
gujaf-441	441	4	,	,	PUNCT
gujaf-441	441	5	48	48	NUM
gujaf-441	441	6	,	,	PUNCT
gujaf-441	441	7	102916	102916	NUM
gujaf-441	441	8	.	.	PUNCT
gujaf-441	442	1	worldbank.(2023).worlddevelopmentindicators	worldbank.(2023).worlddevelopmentindicator	NOUN
gujaf-441	442	2	.	.	PUNCT
gujaf-441	443	1	asante	asante	PROPN
gujaf-441	443	2	,	,	PUNCT
gujaf-441	443	3	s.	s.	PROPN
gujaf-441	443	4	,	,	PUNCT
gujaf-441	443	5	aboagye	aboagye	PROPN
gujaf-441	443	6	,	,	PUNCT
gujaf-441	443	7	a.	a.	PROPN
gujaf-441	443	8	q.	q.	PROPN
gujaf-441	443	9	q.	q.	PROPN
gujaf-441	443	10	,	,	PUNCT
gujaf-441	443	11	&	&	CCONJ
gujaf-441	443	12	osei	osei	PROPN
gujaf-441	443	13	-	-	PUNCT
gujaf-441	443	14	assibey	assibey	PROPN
gujaf-441	443	15	,	,	PUNCT
gujaf-441	443	16	e.	e.	PROPN
gujaf-441	443	17	(	(	PUNCT
gujaf-441	443	18	2023	2023	NUM
gujaf-441	443	19	)	)	PUNCT
gujaf-441	443	20	.	.	PUNCT
gujaf-441	444	1	fintech	fintech	NOUN
gujaf-441	444	2	credit	credit	NOUN
gujaf-441	444	3	and	and	CCONJ
gujaf-441	444	4	the	the	DET
gujaf-441	444	5	financing	financing	NOUN
gujaf-441	444	6	decisions	decision	NOUN
gujaf-441	444	7	of	of	ADP
gujaf-441	444	8	smes	sme	NOUN
gujaf-441	444	9	in	in	ADP
gujaf-441	444	10	developing	develop	VERB
gujaf-441	444	11	economies	economy	NOUN
gujaf-441	444	12	.	.	PUNCT
gujaf-441	445	1	emerging	emerge	VERB
gujaf-441	445	2	markets	market	NOUN
gujaf-441	445	3	finance	finance	NOUN
gujaf-441	445	4	andtrade	andtrade	ADJ
gujaf-441	445	5	,	,	PUNCT
gujaf-441	445	6	59(4	59(4	NUM
gujaf-441	445	7	)	)	PUNCT
gujaf-441	445	8	,	,	PUNCT
gujaf-441	445	9	1001–1020	1001–1020	NUM
gujaf-441	445	10	.	.	PUNCT
gujaf-441	446	1	zou	zou	PROPN
gujaf-441	446	2	,	,	PUNCT
gujaf-441	446	3	y.	y.	PROPN
gujaf-441	446	4	,	,	PUNCT
gujaf-441	446	5	wang	wang	PROPN
gujaf-441	446	6	,	,	PUNCT
gujaf-441	446	7	f.	f.	PROPN
gujaf-441	446	8	,	,	PUNCT
gujaf-441	446	9	&	&	CCONJ
gujaf-441	446	10	zhang	zhang	PROPN
gujaf-441	446	11	,	,	PUNCT
gujaf-441	446	12	j.	j.	PROPN
gujaf-441	446	13	(	(	PUNCT
gujaf-441	446	14	2022	2022	NUM
gujaf-441	446	15	)	)	PUNCT
gujaf-441	446	16	.	.	PUNCT
gujaf-441	447	1	institutional	institutional	ADJ
gujaf-441	447	2	quality	quality	NOUN
gujaf-441	447	3	,	,	PUNCT
gujaf-441	447	4	firm	firm	ADJ
gujaf-441	447	5	size	size	NOUN
gujaf-441	447	6	and	and	CCONJ
gujaf-441	447	7	capital	capital	NOUN
gujaf-441	447	8	structure	structure	NOUN
gujaf-441	447	9	:	:	PUNCT
gujaf-441	447	10	evidence	evidence	NOUN
gujaf-441	447	11	from	from	ADP
gujaf-441	447	12	brics	bric	NOUN
gujaf-441	447	13	countries	country	NOUN
gujaf-441	447	14	.	.	PUNCT
gujaf-441	448	1	research	research	NOUN
gujaf-441	448	2	in	in	ADP
gujaf-441	448	3	international	international	ADJ
gujaf-441	448	4	business	business	NOUN
gujaf-441	448	5	and	and	CCONJ
gujaf-441	448	6	finance	finance	NOUN
gujaf-441	448	7	,	,	PUNCT
gujaf-441	448	8	59	59	NUM
gujaf-441	448	9	,	,	PUNCT
gujaf-441	448	10	101539	101539	NUM
gujaf-441	448	11	.	.	PUNCT