id	sid	tid	token	lemma	pos
gp-215	1	1	389	389	NUM
gp-215	1	2	american	american	ADJ
gp-215	1	3	journal	journal	NOUN
gp-215	1	4	of	of	ADP
gp-215	1	5	economic	economic	ADJ
gp-215	1	6	and	and	CCONJ
gp-215	1	7	management	management	NOUN
gp-215	1	8	business	business	NOUN
gp-215	1	9	e	e	NOUN
gp-215	1	10	-	-	NOUN
gp-215	1	11	issn	issn	ADJ
gp-215	1	12	:	:	PUNCT
gp-215	1	13	2835	2835	NUM
gp-215	1	14	-	-	SYM
gp-215	1	15	5199	5199	NUM
gp-215	1	16	vol	vol	NOUN
gp-215	1	17	.	.	PROPN
gp-215	1	18	4	4	NUM
gp-215	1	19	no	no	NOUN
gp-215	1	20	.	.	NOUN
gp-215	1	21	5	5	NUM
gp-215	1	22	mei	mei	PROPN
gp-215	1	23	2025	2025	NUM
gp-215	1	24	market	market	NOUN
gp-215	1	25	reactions	reaction	NOUN
gp-215	1	26	to	to	PART
gp-215	1	27	sovereign	sovereign	VERB
gp-215	1	28	wealth	wealth	NOUN
gp-215	1	29	fund	fund	NOUN
gp-215	1	30	formation	formation	NOUN
gp-215	1	31	in	in	ADP
gp-215	1	32	an	an	DET
gp-215	1	33	emerging	emerge	VERB
gp-215	1	34	market	market	NOUN
gp-215	1	35	:	:	PUNCT
gp-215	1	36	price	price	NOUN
gp-215	1	37	inertia	inertia	NOUN
gp-215	1	38	and	and	CCONJ
gp-215	1	39	microstructure	microstructure	ADJ
gp-215	1	40	volatility	volatility	NOUN
gp-215	1	41	in	in	ADP
gp-215	1	42	indonesia	indonesia	PROPN
gp-215	1	43	’s	’s	PART
gp-215	1	44	danantara	danantara	PROPN
gp-215	1	45	reni	reni	PROPN
gp-215	1	46	lestari1	lestari1	PROPN
gp-215	1	47	,	,	PUNCT
gp-215	1	48	lindsay	lindsay	PROPN
gp-215	1	49	carnelian	carnelian	PROPN
gp-215	1	50	emily2	emily2	PROPN
gp-215	1	51	universitas	universita	NOUN
gp-215	1	52	trisakti	trisakti	ADJ
gp-215	1	53	,	,	PUNCT
gp-215	1	54	indonesia1	indonesia1	NOUN
gp-215	1	55	universitas	universita	NOUN
gp-215	1	56	bina	bina	PROPN
gp-215	1	57	nusantara	nusantara	PROPN
gp-215	1	58	,	,	PUNCT
gp-215	1	59	indonesia2	indonesia2	NOUN
gp-215	1	60	email	email	NOUN
gp-215	1	61	:	:	PUNCT
gp-215	1	62	rereni12@gmail.com1	rereni12@gmail.com1	NOUN
gp-215	1	63	,	,	PUNCT
gp-215	1	64	lindsay.emily@binus.ac.id2	lindsay.emily@binus.ac.id2	X
gp-215	1	65	abstract	abstract	ADJ
gp-215	1	66	this	this	DET
gp-215	1	67	study	study	NOUN
gp-215	1	68	investigates	investigate	VERB
gp-215	1	69	the	the	DET
gp-215	1	70	short	short	ADJ
gp-215	1	71	-	-	PUNCT
gp-215	1	72	term	term	NOUN
gp-215	1	73	market	market	NOUN
gp-215	1	74	reaction	reaction	NOUN
gp-215	1	75	to	to	ADP
gp-215	1	76	the	the	DET
gp-215	1	77	announcement	announcement	NOUN
gp-215	1	78	of	of	ADP
gp-215	1	79	indonesia	indonesia	PROPN
gp-215	1	80	’s	’s	PART
gp-215	1	81	sovereign	sovereign	ADJ
gp-215	1	82	wealth	wealth	NOUN
gp-215	1	83	fund	fund	NOUN
gp-215	1	84	(	(	PUNCT
gp-215	1	85	swf	swf	PROPN
gp-215	1	86	)	)	PUNCT
gp-215	1	87	,	,	PUNCT
gp-215	1	88	danantara	danantara	NOUN
gp-215	1	89	,	,	PUNCT
gp-215	1	90	using	use	VERB
gp-215	1	91	a	a	DET
gp-215	1	92	dual	dual	ADJ
gp-215	1	93	-	-	PUNCT
gp-215	1	94	framework	framework	NOUN
gp-215	1	95	approach	approach	NOUN
gp-215	1	96	that	that	PRON
gp-215	1	97	combines	combine	VERB
gp-215	1	98	price	price	NOUN
gp-215	1	99	-	-	PUNCT
gp-215	1	100	based	base	VERB
gp-215	1	101	and	and	CCONJ
gp-215	1	102	microstructurebased	microstructurebase	VERB
gp-215	1	103	measures	measure	NOUN
gp-215	1	104	.	.	PUNCT
gp-215	2	1	although	although	SCONJ
gp-215	2	2	sovereign	sovereign	ADJ
gp-215	2	3	wealth	wealth	NOUN
gp-215	2	4	funds	fund	NOUN
gp-215	2	5	are	be	AUX
gp-215	2	6	intended	intend	VERB
gp-215	2	7	to	to	PART
gp-215	2	8	boost	boost	VERB
gp-215	2	9	investor	investor	NOUN
gp-215	2	10	confidence	confidence	NOUN
gp-215	2	11	and	and	CCONJ
gp-215	2	12	attract	attract	VERB
gp-215	2	13	long	long	ADJ
gp-215	2	14	-	-	PUNCT
gp-215	2	15	term	term	NOUN
gp-215	2	16	capital	capital	NOUN
gp-215	2	17	,	,	PUNCT
gp-215	2	18	the	the	DET
gp-215	2	19	indonesian	indonesian	ADJ
gp-215	2	20	equity	equity	NOUN
gp-215	2	21	market	market	NOUN
gp-215	2	22	—	—	PUNCT
gp-215	2	23	dominated	dominate	VERB
gp-215	2	24	by	by	ADP
gp-215	2	25	retail	retail	ADJ
gp-215	2	26	investors	investor	NOUN
gp-215	2	27	and	and	CCONJ
gp-215	2	28	characterized	characterize	VERB
gp-215	2	29	by	by	ADP
gp-215	2	30	institutional	institutional	ADJ
gp-215	2	31	opacity	opacity	NOUN
gp-215	2	32	—	—	PUNCT
gp-215	2	33	offers	offer	VERB
gp-215	2	34	a	a	DET
gp-215	2	35	unique	unique	ADJ
gp-215	2	36	testing	testing	NOUN
gp-215	2	37	ground	ground	NOUN
gp-215	2	38	.	.	PUNCT
gp-215	3	1	the	the	DET
gp-215	3	2	research	research	NOUN
gp-215	3	3	aims	aim	VERB
gp-215	3	4	to	to	PART
gp-215	3	5	assess	assess	VERB
gp-215	3	6	whether	whether	SCONJ
gp-215	3	7	the	the	DET
gp-215	3	8	announcement	announcement	NOUN
gp-215	3	9	of	of	ADP
gp-215	3	10	danantara	danantara	NOUN
gp-215	3	11	triggered	trigger	VERB
gp-215	3	12	abnormal	abnormal	ADJ
gp-215	3	13	returns	return	NOUN
gp-215	3	14	or	or	CCONJ
gp-215	3	15	changes	change	NOUN
gp-215	3	16	in	in	ADP
gp-215	3	17	trading	trading	NOUN
gp-215	3	18	behavior	behavior	NOUN
gp-215	3	19	and	and	CCONJ
gp-215	3	20	liquidity	liquidity	NOUN
gp-215	3	21	among	among	ADP
gp-215	3	22	related	related	ADJ
gp-215	3	23	state	state	NOUN
gp-215	3	24	-	-	PUNCT
gp-215	3	25	owned	own	VERB
gp-215	3	26	enterprises	enterprise	NOUN
gp-215	3	27	(	(	PUNCT
gp-215	3	28	soes	soe	NOUN
gp-215	3	29	)	)	PUNCT
gp-215	3	30	and	and	CCONJ
gp-215	3	31	the	the	DET
gp-215	3	32	broader	broad	ADJ
gp-215	3	33	market	market	NOUN
gp-215	3	34	index	index	NOUN
gp-215	3	35	(	(	PUNCT
gp-215	3	36	ihsg	ihsg	NOUN
gp-215	3	37	)	)	PUNCT
gp-215	3	38	.	.	PUNCT
gp-215	4	1	utilizing	utilize	VERB
gp-215	4	2	an	an	DET
gp-215	4	3	event	event	NOUN
gp-215	4	4	study	study	NOUN
gp-215	4	5	methodology	methodology	NOUN
gp-215	4	6	,	,	PUNCT
gp-215	4	7	this	this	DET
gp-215	4	8	study	study	NOUN
gp-215	4	9	measured	measure	VERB
gp-215	4	10	abnormal	abnormal	ADJ
gp-215	4	11	returns	return	NOUN
gp-215	4	12	(	(	PUNCT
gp-215	4	13	ar	ar	NOUN
gp-215	4	14	)	)	PUNCT
gp-215	4	15	,	,	PUNCT
gp-215	4	16	cumulative	cumulative	ADJ
gp-215	4	17	abnormal	abnormal	ADJ
gp-215	4	18	returns	return	NOUN
gp-215	4	19	(	(	PUNCT
gp-215	4	20	car	car	NOUN
gp-215	4	21	)	)	PUNCT
gp-215	4	22	,	,	PUNCT
gp-215	4	23	trading	trading	NOUN
gp-215	4	24	volume	volume	NOUN
gp-215	4	25	activity	activity	NOUN
gp-215	4	26	(	(	PUNCT
gp-215	4	27	tva	tva	PROPN
gp-215	4	28	)	)	PUNCT
gp-215	4	29	,	,	PUNCT
gp-215	4	30	abnormal	abnormal	ADJ
gp-215	4	31	volume	volume	NOUN
gp-215	4	32	(	(	PUNCT
gp-215	4	33	av	av	NOUN
gp-215	4	34	)	)	PUNCT
gp-215	4	35	,	,	PUNCT
gp-215	4	36	and	and	CCONJ
gp-215	4	37	amihud	amihud	VERB
gp-215	4	38	illiquidity	illiquidity	NOUN
gp-215	4	39	(	(	PUNCT
gp-215	4	40	illiq	illiq	ADV
gp-215	4	41	)	)	PUNCT
gp-215	4	42	across	across	ADP
gp-215	4	43	a	a	DET
gp-215	4	44	±5	±5	NOUN
gp-215	4	45	-	-	PUNCT
gp-215	4	46	day	day	NOUN
gp-215	4	47	window	window	NOUN
gp-215	4	48	around	around	ADP
gp-215	4	49	the	the	DET
gp-215	4	50	event	event	NOUN
gp-215	4	51	date	date	NOUN
gp-215	4	52	.	.	PUNCT
gp-215	5	1	the	the	DET
gp-215	5	2	findings	finding	NOUN
gp-215	5	3	show	show	VERB
gp-215	5	4	no	no	DET
gp-215	5	5	significant	significant	ADJ
gp-215	5	6	price	price	NOUN
gp-215	5	7	reactions	reaction	NOUN
gp-215	5	8	but	but	CCONJ
gp-215	5	9	reveal	reveal	VERB
gp-215	5	10	temporary	temporary	ADJ
gp-215	5	11	spikes	spike	NOUN
gp-215	5	12	in	in	ADP
gp-215	5	13	trading	trading	NOUN
gp-215	5	14	activity	activity	NOUN
gp-215	5	15	and	and	CCONJ
gp-215	5	16	liquidity	liquidity	NOUN
gp-215	5	17	disruption	disruption	NOUN
gp-215	5	18	,	,	PUNCT
gp-215	5	19	suggesting	suggest	VERB
gp-215	5	20	behavioral	behavioral	ADJ
gp-215	5	21	responses	response	NOUN
gp-215	5	22	driven	drive	VERB
gp-215	5	23	by	by	ADP
gp-215	5	24	policy	policy	NOUN
gp-215	5	25	uncertainty	uncertainty	NOUN
gp-215	5	26	.	.	PUNCT
gp-215	6	1	the	the	DET
gp-215	6	2	implications	implication	NOUN
gp-215	6	3	indicate	indicate	VERB
gp-215	6	4	that	that	SCONJ
gp-215	6	5	market	market	NOUN
gp-215	6	6	participants	participant	NOUN
gp-215	6	7	in	in	ADP
gp-215	6	8	emerging	emerge	VERB
gp-215	6	9	economies	economy	NOUN
gp-215	6	10	process	process	VERB
gp-215	6	11	reforms	reform	NOUN
gp-215	6	12	not	not	PART
gp-215	6	13	through	through	ADP
gp-215	6	14	valuation	valuation	NOUN
gp-215	6	15	changes	change	NOUN
gp-215	6	16	but	but	CCONJ
gp-215	6	17	via	via	ADP
gp-215	6	18	speculative	speculative	ADJ
gp-215	6	19	and	and	CCONJ
gp-215	6	20	liquidity	liquidity	NOUN
gp-215	6	21	-	-	PUNCT
gp-215	6	22	driven	drive	VERB
gp-215	6	23	behavior	behavior	NOUN
gp-215	6	24	.	.	PUNCT
gp-215	7	1	this	this	PRON
gp-215	7	2	emphasizes	emphasize	VERB
gp-215	7	3	the	the	DET
gp-215	7	4	importance	importance	NOUN
gp-215	7	5	of	of	ADP
gp-215	7	6	transparency	transparency	NOUN
gp-215	7	7	and	and	CCONJ
gp-215	7	8	follow	follow	VERB
gp-215	7	9	-	-	PUNCT
gp-215	7	10	through	through	NOUN
gp-215	7	11	in	in	ADP
gp-215	7	12	institutional	institutional	ADJ
gp-215	7	13	reform	reform	NOUN
gp-215	7	14	.	.	PUNCT
gp-215	8	1	the	the	DET
gp-215	8	2	study	study	NOUN
gp-215	8	3	provides	provide	VERB
gp-215	8	4	a	a	DET
gp-215	8	5	replicable	replicable	ADJ
gp-215	8	6	analytical	analytical	ADJ
gp-215	8	7	model	model	NOUN
gp-215	8	8	for	for	ADP
gp-215	8	9	emerging	emerge	VERB
gp-215	8	10	markets	market	NOUN
gp-215	8	11	responding	respond	VERB
gp-215	8	12	to	to	ADP
gp-215	8	13	top	top	ADJ
gp-215	8	14	-	-	PUNCT
gp-215	8	15	down	down	ADP
gp-215	8	16	economic	economic	ADJ
gp-215	8	17	policy	policy	NOUN
gp-215	8	18	shifts	shift	NOUN
gp-215	8	19	.	.	PUNCT
gp-215	9	1	keywords	keyword	NOUN
gp-215	9	2	:	:	PUNCT
gp-215	9	3	sovereign	sovereign	ADJ
gp-215	9	4	wealth	wealth	NOUN
gp-215	9	5	fund	fund	NOUN
gp-215	9	6	,	,	PUNCT
gp-215	9	7	event	event	NOUN
gp-215	9	8	study	study	NOUN
gp-215	9	9	,	,	PUNCT
gp-215	9	10	market	market	NOUN
gp-215	9	11	microstructure	microstructure	NOUN
gp-215	9	12	,	,	PUNCT
gp-215	9	13	emerging	emerge	VERB
gp-215	9	14	market	market	NOUN
gp-215	9	15	,	,	PUNCT
gp-215	9	16	indonesia	indonesia	PROPN
gp-215	9	17	,	,	PUNCT
gp-215	9	18	behavioral	behavioral	ADJ
gp-215	9	19	finance	finance	NOUN
gp-215	9	20	introduction	introduction	NOUN
gp-215	9	21	as	as	ADP
gp-215	9	22	instruments	instrument	NOUN
gp-215	9	23	for	for	ADP
gp-215	9	24	macroeconomic	macroeconomic	ADJ
gp-215	9	25	stabilization	stabilization	NOUN
gp-215	9	26	,	,	PUNCT
gp-215	9	27	intergenerational	intergenerational	ADJ
gp-215	9	28	wealth	wealth	NOUN
gp-215	9	29	management	management	NOUN
gp-215	9	30	,	,	PUNCT
gp-215	9	31	and	and	CCONJ
gp-215	9	32	foreign	foreign	ADJ
gp-215	9	33	investment	investment	NOUN
gp-215	9	34	attraction	attraction	NOUN
gp-215	9	35	,	,	PUNCT
gp-215	9	36	sovereign	sovereign	ADJ
gp-215	9	37	wealth	wealth	NOUN
gp-215	9	38	funds	fund	NOUN
gp-215	9	39	(	(	PUNCT
gp-215	9	40	swfs	swfs	PROPN
gp-215	9	41	)	)	PUNCT
gp-215	9	42	are	be	AUX
gp-215	9	43	now	now	ADV
gp-215	9	44	critical	critical	ADJ
gp-215	9	45	especially	especially	ADV
gp-215	9	46	in	in	ADP
gp-215	9	47	emerging	emerge	VERB
gp-215	9	48	markets	market	NOUN
gp-215	9	49	(	(	PUNCT
gp-215	9	50	(	(	PUNCT
gp-215	9	51	imf	imf	PROPN
gp-215	9	52	)	)	PUNCT
gp-215	9	53	,	,	PUNCT
gp-215	9	54	2023	2023	NUM
gp-215	9	55	)	)	PUNCT
gp-215	9	56	.	.	PUNCT
gp-215	10	1	three	three	NUM
gp-215	10	2	swfs	swfs	NOUN
gp-215	10	3	in	in	ADP
gp-215	10	4	southeast	southeast	PROPN
gp-215	10	5	asia	asia	PROPN
gp-215	10	6	have	have	AUX
gp-215	10	7	gained	gain	VERB
gp-215	10	8	traction	traction	NOUN
gp-215	10	9	in	in	ADP
gp-215	10	10	their	their	PRON
gp-215	10	11	establishment	establishment	NOUN
gp-215	10	12	,	,	PUNCT
gp-215	10	13	and	and	CCONJ
gp-215	10	14	sweden	sweden	PROPN
gp-215	10	15	just	just	ADV
gp-215	10	16	finished	finish	VERB
gp-215	10	17	the	the	DET
gp-215	10	18	confirmed	confirm	VERB
gp-215	10	19	establishment	establishment	NOUN
gp-215	10	20	of	of	ADP
gp-215	10	21	their	their	PRON
gp-215	10	22	swf	swf	NOUN
gp-215	10	23	.	.	PUNCT
gp-215	11	1	in	in	ADP
gp-215	11	2	2025	2025	NUM
gp-215	11	3	,	,	PUNCT
gp-215	11	4	indonesia	indonesia	PROPN
gp-215	11	5	announced	announce	VERB
gp-215	11	6	the	the	DET
gp-215	11	7	establishment	establishment	NOUN
gp-215	11	8	of	of	ADP
gp-215	11	9	its	its	PRON
gp-215	11	10	own	own	ADJ
gp-215	11	11	swf	swf	NOUN
gp-215	11	12	,	,	PUNCT
gp-215	11	13	danantara	danantara	NOUN
gp-215	11	14	,	,	PUNCT
gp-215	11	15	after	after	ADP
gp-215	11	16	the	the	DET
gp-215	11	17	examples	example	NOUN
gp-215	11	18	of	of	ADP
gp-215	11	19	its	its	PRON
gp-215	11	20	less	less	ADV
gp-215	11	21	populous	populous	ADJ
gp-215	11	22	neighbors	neighbor	NOUN
gp-215	11	23	;	;	PUNCT
gp-215	11	24	malaysia	malaysia	PROPN
gp-215	11	25	's	's	PART
gp-215	11	26	khazanah	khazanah	PROPN
gp-215	11	27	nasional	nasional	PROPN
gp-215	11	28	and	and	CCONJ
gp-215	11	29	thailand	thailand	PROPN
gp-215	11	30	's	's	PART
gp-215	11	31	thailand	thailand	PROPN
gp-215	11	32	future	future	PROPN
gp-215	11	33	fund	fund	PROPN
gp-215	11	34	have	have	AUX
gp-215	11	35	,	,	PUNCT
gp-215	11	36	both	both	PRON
gp-215	11	37	been	be	AUX
gp-215	11	38	mentioned	mention	VERB
gp-215	11	39	to	to	PART
gp-215	11	40	bolster	bolster	VERB
gp-215	11	41	governance	governance	NOUN
gp-215	11	42	and	and	CCONJ
gp-215	11	43	insulate	insulate	VERB
gp-215	11	44	state	state	NOUN
gp-215	11	45	investments	investment	NOUN
gp-215	11	46	from	from	ADP
gp-215	11	47	the	the	DET
gp-215	11	48	political	political	ADJ
gp-215	11	49	process	process	NOUN
gp-215	11	50	(	(	PUNCT
gp-215	11	51	siregar	siregar	NOUN
gp-215	11	52	&	&	CCONJ
gp-215	11	53	others	other	NOUN
gp-215	11	54	,	,	PUNCT
gp-215	11	55	2022	2022	NUM
gp-215	11	56	)	)	PUNCT
gp-215	11	57	.	.	PUNCT
gp-215	12	1	with	with	ADP
gp-215	12	2	expected	expect	VERB
gp-215	12	3	assets	asset	NOUN
gp-215	12	4	nearing	near	VERB
gp-215	12	5	$	$	SYM
gp-215	12	6	900	900	NUM
gp-215	12	7	billion	billion	NUM
gp-215	12	8	,	,	PUNCT
gp-215	12	9	danantara	danantara	NOUN
gp-215	12	10	has	have	VERB
gp-215	12	11	the	the	DET
gp-215	12	12	potential	potential	NOUN
gp-215	12	13	to	to	PART
gp-215	12	14	rival	rival	VERB
gp-215	12	15	the	the	DET
gp-215	12	16	world	world	NOUN
gp-215	12	17	's	's	PART
gp-215	12	18	two	two	NUM
gp-215	12	19	and	and	CCONJ
gp-215	12	20	three	three	NUM
gp-215	12	21	largest	large	ADJ
gp-215	12	22	swf	swf	NOUN
gp-215	12	23	's	's	PART
gp-215	12	24	.	.	PUNCT
gp-215	13	1	we	we	PRON
gp-215	13	2	did	do	AUX
gp-215	13	3	note	note	VERB
gp-215	13	4	an	an	DET
gp-215	13	5	australian	australian	ADJ
gp-215	13	6	swf	swf	NOUN
gp-215	13	7	proposed	propose	VERB
gp-215	13	8	,	,	PUNCT
gp-215	13	9	but	but	CCONJ
gp-215	13	10	it	it	PRON
gp-215	13	11	failed	fail	VERB
gp-215	13	12	to	to	PART
gp-215	13	13	launch	launch	VERB
gp-215	13	14	,	,	PUNCT
gp-215	13	15	succumbing	succumb	VERB
gp-215	13	16	to	to	AUX
gp-215	13	17	small	small	ADJ
gp-215	13	18	,	,	PUNCT
gp-215	13	19	competing	compete	VERB
gp-215	13	20	local	local	ADJ
gp-215	13	21	interests	interest	NOUN
gp-215	13	22	.	.	PUNCT
gp-215	14	1	while	while	SCONJ
gp-215	14	2	size	size	NOUN
gp-215	14	3	may	may	AUX
gp-215	14	4	afford	afford	VERB
gp-215	14	5	the	the	DET
gp-215	14	6	center	center	NOUN
gp-215	14	7	for	for	ADP
gp-215	14	8	swf	swf	PROPN
gp-215	14	9	's	's	PART
gp-215	14	10	in	in	ADP
gp-215	14	11	danantara	danantara	NOUN
gp-215	14	12	a	a	DET
gp-215	14	13	chance	chance	NOUN
gp-215	14	14	of	of	ADP
gp-215	14	15	success	success	NOUN
gp-215	14	16	,	,	PUNCT
gp-215	14	17	actual	actual	ADJ
gp-215	14	18	success	success	NOUN
gp-215	14	19	depends	depend	VERB
gp-215	14	20	less	less	ADJ
gp-215	14	21	on	on	ADP
gp-215	14	22	those	those	DET
gp-215	14	23	benefits	benefit	NOUN
gp-215	14	24	and	and	CCONJ
gp-215	14	25	more	more	ADJ
gp-215	14	26	on	on	ADP
gp-215	14	27	addressing	address	VERB
gp-215	14	28	indonesia	indonesia	PROPN
gp-215	14	29	's	's	PART
gp-215	14	30	complex	complex	ADJ
gp-215	14	31	and	and	CCONJ
gp-215	14	32	opaque	opaque	ADJ
gp-215	14	33	institutional	institutional	ADJ
gp-215	14	34	environment	environment	NOUN
gp-215	14	35	which	which	PRON
gp-215	14	36	continues	continue	VERB
gp-215	14	37	to	to	PART
gp-215	14	38	allow	allow	VERB
gp-215	14	39	around	around	ADP
gp-215	14	40	65	65	NUM
gp-215	14	41	%	%	NOUN
gp-215	14	42	of	of	ADP
gp-215	14	43	equity	equity	NOUN
gp-215	14	44	market	market	NOUN
gp-215	14	45	turnover	turnover	NOUN
gp-215	14	46	to	to	PART
gp-215	14	47	come	come	VERB
gp-215	14	48	from	from	ADP
gp-215	14	49	retail	retail	ADJ
gp-215	14	50	investors	investor	NOUN
gp-215	14	51	in	in	ADP
gp-215	14	52	asia	asia	PROPN
gp-215	14	53	american	american	PROPN
gp-215	14	54	journal	journal	PROPN
gp-215	14	55	of	of	ADP
gp-215	14	56	economic	economic	ADJ
gp-215	14	57	and	and	CCONJ
gp-215	14	58	management	management	NOUN
gp-215	14	59	business	business	NOUN
gp-215	14	60	vol	vol	NOUN
gp-215	14	61	.	.	PROPN
gp-215	15	1	4	4	NUM
gp-215	16	1	no	no	NOUN
gp-215	16	2	.	.	NOUN
gp-215	16	3	5	5	NUM
gp-215	16	4	may	may	PROPN
gp-215	16	5	2025	2025	NUM
gp-215	16	6	390	390	NUM
gp-215	16	7	(	(	PUNCT
gp-215	16	8	indonesia	indonesia	PROPN
gp-215	16	9	stock	stock	PROPN
gp-215	16	10	exchange	exchange	PROPN
gp-215	16	11	(	(	PUNCT
gp-215	16	12	idx	idx	PROPN
gp-215	16	13	)	)	PUNCT
gp-215	16	14	,	,	PUNCT
gp-215	16	15	2023	2023	NUM
gp-215	16	16	)	)	PUNCT
gp-215	16	17	.	.	PUNCT
gp-215	17	1	while	while	SCONJ
gp-215	17	2	not	not	PART
gp-215	17	3	indicative	indicative	ADJ
gp-215	17	4	of	of	ADP
gp-215	17	5	genuine	genuine	ADJ
gp-215	17	6	success	success	NOUN
gp-215	17	7	,	,	PUNCT
gp-215	17	8	the	the	DET
gp-215	17	9	experiences	experience	NOUN
gp-215	17	10	of	of	ADP
gp-215	17	11	long	long	ADV
gp-215	17	12	-	-	PUNCT
gp-215	17	13	established	establish	VERB
gp-215	17	14	swfs	swfs	NOUN
gp-215	17	15	including	include	VERB
gp-215	17	16	norway	norway	PROPN
gp-215	17	17	's	's	PART
gp-215	17	18	government	government	NOUN
gp-215	17	19	pension	pension	NOUN
gp-215	17	20	fund	fund	NOUN
gp-215	17	21	global	global	PROPN
gp-215	17	22	,	,	PUNCT
gp-215	17	23	singapore	singapore	PROPN
gp-215	17	24	's	's	PART
gp-215	17	25	gic	gic	NOUN
gp-215	17	26	,	,	PUNCT
gp-215	17	27	and	and	CCONJ
gp-215	17	28	abu	abu	PROPN
gp-215	17	29	dhabi	dhabi	PROPN
gp-215	17	30	investment	investment	PROPN
gp-215	17	31	authority	authority	PROPN
gp-215	17	32	(	(	PUNCT
gp-215	17	33	adia	adia	PROPN
gp-215	17	34	)	)	PUNCT
gp-215	17	35	,	,	PUNCT
gp-215	17	36	suggest	suggest	VERB
gp-215	17	37	that	that	SCONJ
gp-215	17	38	establishing	establish	VERB
gp-215	17	39	credibility	credibility	NOUN
gp-215	17	40	,	,	PUNCT
gp-215	17	41	transparency	transparency	NOUN
gp-215	17	42	and	and	CCONJ
gp-215	17	43	good	good	ADJ
gp-215	17	44	governance	governance	NOUN
gp-215	17	45	are	be	AUX
gp-215	17	46	paramount	paramount	ADJ
gp-215	17	47	in	in	ADP
gp-215	17	48	developing	develop	VERB
gp-215	17	49	long	long	ADJ
gp-215	17	50	-	-	PUNCT
gp-215	17	51	term	term	NOUN
gp-215	17	52	investor	investor	NOUN
gp-215	17	53	confidence	confidence	NOUN
gp-215	17	54	(	(	PUNCT
gp-215	17	55	(	(	PUNCT
gp-215	17	56	imf	imf	PROPN
gp-215	17	57	)	)	PUNCT
gp-215	17	58	,	,	PUNCT
gp-215	17	59	2022	2022	NUM
gp-215	17	60	;	;	PUNCT
gp-215	17	61	bortolotti	bortolotti	PROPN
gp-215	17	62	et	et	PROPN
gp-215	17	63	al	al	PROPN
gp-215	17	64	.	.	PROPN
gp-215	17	65	,	,	PUNCT
gp-215	17	66	2015	2015	NUM
gp-215	17	67	)	)	PUNCT
gp-215	17	68	.	.	PUNCT
gp-215	18	1	earlier	early	ADJ
gp-215	18	2	research	research	NOUN
gp-215	18	3	has	have	AUX
gp-215	18	4	yielded	yield	VERB
gp-215	18	5	mixed	mixed	ADJ
gp-215	18	6	results	result	NOUN
gp-215	18	7	regarding	regard	VERB
gp-215	18	8	the	the	DET
gp-215	18	9	impact	impact	NOUN
gp-215	18	10	of	of	ADP
gp-215	18	11	swfs	swfs	NOUN
gp-215	18	12	on	on	ADP
gp-215	18	13	capital	capital	NOUN
gp-215	18	14	markets	market	NOUN
gp-215	18	15	.	.	PUNCT
gp-215	19	1	kotter	kotter	PROPN
gp-215	19	2	&	&	CCONJ
gp-215	19	3	lel	lel	PROPN
gp-215	19	4	,	,	PUNCT
gp-215	19	5	2011	2011	NUM
gp-215	19	6	revealed	reveal	VERB
gp-215	19	7	that	that	SCONJ
gp-215	19	8	while	while	SCONJ
gp-215	19	9	swf	swf	NOUN
gp-215	19	10	investments	investment	NOUN
gp-215	19	11	themselves	themselves	PRON
gp-215	19	12	—	—	PUNCT
gp-215	19	13	rather	rather	ADV
gp-215	19	14	than	than	ADP
gp-215	19	15	swf	swf	PROPN
gp-215	19	16	announcements	announcement	NOUN
gp-215	19	17	—	—	PUNCT
gp-215	19	18	provided	provide	VERB
gp-215	19	19	positive	positive	ADJ
gp-215	19	20	abnormal	abnormal	ADJ
gp-215	19	21	returns	return	NOUN
gp-215	19	22	all	all	ADV
gp-215	19	23	on	on	ADP
gp-215	19	24	a	a	DET
gp-215	19	25	specific	specific	ADJ
gp-215	19	26	dimension	dimension	NOUN
gp-215	19	27	of	of	ADP
gp-215	19	28	announcement	announcement	NOUN
gp-215	19	29	study	study	NOUN
gp-215	19	30	(	(	PUNCT
gp-215	19	31	e.g.	e.g.	ADV
gp-215	19	32	an	an	DET
gp-215	19	33	swf	swf	NOUN
gp-215	19	34	investment	investment	NOUN
gp-215	19	35	means	mean	VERB
gp-215	19	36	the	the	DET
gp-215	19	37	swf	swf	NOUN
gp-215	19	38	is	be	AUX
gp-215	19	39	commercial	commercial	ADJ
gp-215	19	40	)	)	PUNCT
gp-215	19	41	;	;	PUNCT
gp-215	19	42	fernandes	fernande	NOUN
gp-215	19	43	(	(	PUNCT
gp-215	19	44	2014	2014	NUM
gp-215	19	45	)	)	PUNCT
gp-215	19	46	concluded	conclude	VERB
gp-215	19	47	that	that	SCONJ
gp-215	19	48	generic	generic	ADJ
gp-215	19	49	press	press	NOUN
gp-215	19	50	releases	release	NOUN
gp-215	19	51	devoid	devoid	ADJ
gp-215	19	52	of	of	ADP
gp-215	19	53	short	short	ADJ
gp-215	19	54	-	-	PUNCT
gp-215	19	55	term	term	NOUN
gp-215	19	56	operational	operational	ADJ
gp-215	19	57	-	-	PUNCT
gp-215	19	58	level	level	NOUN
gp-215	19	59	clarity	clarity	NOUN
gp-215	19	60	usually	usually	ADV
gp-215	19	61	fail	fail	VERB
gp-215	19	62	to	to	PART
gp-215	19	63	make	make	VERB
gp-215	19	64	a	a	DET
gp-215	19	65	meaningful	meaningful	ADJ
gp-215	19	66	impact	impact	NOUN
gp-215	19	67	on	on	ADP
gp-215	19	68	valuations	valuation	NOUN
gp-215	19	69	.	.	PUNCT
gp-215	20	1	also	also	ADV
gp-215	20	2	,	,	PUNCT
gp-215	20	3	within	within	ADP
gp-215	20	4	emerging	emerge	VERB
gp-215	20	5	markets	market	NOUN
gp-215	20	6	,	,	PUNCT
gp-215	20	7	gupta	gupta	PROPN
gp-215	20	8	&	&	CCONJ
gp-215	20	9	sharma	sharma	PROPN
gp-215	20	10	(	(	PUNCT
gp-215	20	11	2023	2023	NUM
gp-215	20	12	)	)	PUNCT
gp-215	20	13	noted	note	VERB
gp-215	20	14	that	that	SCONJ
gp-215	20	15	while	while	SCONJ
gp-215	20	16	india	india	PROPN
gp-215	20	17	’s	’s	PART
gp-215	20	18	sovereign	sovereign	ADJ
gp-215	20	19	fund	fund	NOUN
gp-215	20	20	announcements	announcement	NOUN
gp-215	20	21	did	do	AUX
gp-215	20	22	not	not	PART
gp-215	20	23	have	have	VERB
gp-215	20	24	significant	significant	ADJ
gp-215	20	25	observable	observable	ADJ
gp-215	20	26	impacts	impact	NOUN
gp-215	20	27	on	on	ADP
gp-215	20	28	stock	stock	NOUN
gp-215	20	29	prices	price	NOUN
gp-215	20	30	,	,	PUNCT
gp-215	20	31	they	they	PRON
gp-215	20	32	did	do	AUX
gp-215	20	33	prompt	prompt	VERB
gp-215	20	34	short	short	ADJ
gp-215	20	35	-	-	PUNCT
gp-215	20	36	term	term	NOUN
gp-215	20	37	bursts	burst	NOUN
gp-215	20	38	of	of	ADP
gp-215	20	39	trading	trading	NOUN
gp-215	20	40	and	and	CCONJ
gp-215	20	41	increased	increase	VERB
gp-215	20	42	liquidity	liquidity	NOUN
gp-215	20	43	variations	variation	NOUN
gp-215	20	44	.	.	PUNCT
gp-215	21	1	the	the	DET
gp-215	21	2	efficient	efficient	ADJ
gp-215	21	3	market	market	NOUN
gp-215	21	4	hypotheses	hypothesis	NOUN
gp-215	21	5	(	(	PUNCT
gp-215	21	6	emh	emh	PROPN
gp-215	21	7	)	)	PUNCT
gp-215	21	8	suggests	suggest	VERB
gp-215	21	9	that	that	SCONJ
gp-215	21	10	stock	stock	NOUN
gp-215	21	11	prices	price	NOUN
gp-215	21	12	rapidly	rapidly	ADV
gp-215	21	13	adjust	adjust	VERB
gp-215	21	14	to	to	ADP
gp-215	21	15	all	all	DET
gp-215	21	16	available	available	ADJ
gp-215	21	17	information	information	NOUN
gp-215	21	18	(	(	PUNCT
gp-215	21	19	fama	fama	NOUN
gp-215	21	20	,	,	PUNCT
gp-215	21	21	1970	1970	NUM
gp-215	21	22	)	)	PUNCT
gp-215	21	23	.	.	PUNCT
gp-215	22	1	consequently	consequently	ADV
gp-215	22	2	,	,	PUNCT
gp-215	22	3	if	if	SCONJ
gp-215	22	4	danantara	danantara	PROPN
gp-215	22	5	’s	’s	PART
gp-215	22	6	announcement	announcement	NOUN
gp-215	22	7	is	be	AUX
gp-215	22	8	deemed	deem	VERB
gp-215	22	9	value	value	NOUN
gp-215	22	10	relevant	relevant	ADJ
gp-215	22	11	,	,	PUNCT
gp-215	22	12	then	then	ADV
gp-215	22	13	the	the	DET
gp-215	22	14	indonesian	indonesian	ADJ
gp-215	22	15	market	market	NOUN
gp-215	22	16	should	should	AUX
gp-215	22	17	respond	respond	VERB
gp-215	22	18	with	with	ADP
gp-215	22	19	immediately	immediately	ADV
gp-215	22	20	observable	observable	ADJ
gp-215	22	21	adjustments	adjustment	NOUN
gp-215	22	22	in	in	ADP
gp-215	22	23	asset	asset	NOUN
gp-215	22	24	prices	price	NOUN
gp-215	22	25	and	and	CCONJ
gp-215	22	26	changes	change	NOUN
gp-215	22	27	in	in	ADP
gp-215	22	28	trading	trading	NOUN
gp-215	22	29	behaviors	behavior	NOUN
gp-215	22	30	.	.	PUNCT
gp-215	23	1	event	event	NOUN
gp-215	23	2	-	-	PUNCT
gp-215	23	3	based	base	VERB
gp-215	23	4	studies	study	NOUN
gp-215	23	5	(	(	PUNCT
gp-215	23	6	an	an	DET
gp-215	23	7	innovation	innovation	NOUN
gp-215	23	8	of	of	ADP
gp-215	23	9	the	the	DET
gp-215	23	10	work	work	NOUN
gp-215	23	11	by	by	ADP
gp-215	23	12	fama	fama	PROPN
gp-215	23	13	,	,	PUNCT
gp-215	23	14	fisher	fisher	PROPN
gp-215	23	15	,	,	PUNCT
gp-215	23	16	jensen	jensen	PROPN
gp-215	23	17	,	,	PUNCT
gp-215	23	18	and	and	CCONJ
gp-215	23	19	roll	roll	NOUN
gp-215	23	20	(	(	PUNCT
gp-215	23	21	fama	fama	PROPN
gp-215	23	22	et	et	PROPN
gp-215	23	23	al	al	PROPN
gp-215	23	24	.	.	PROPN
gp-215	23	25	,	,	PUNCT
gp-215	23	26	1969	1969	NUM
gp-215	23	27	)	)	PUNCT
gp-215	23	28	detailed	detail	VERB
gp-215	23	29	in	in	ADP
gp-215	23	30	brown	brown	PROPN
gp-215	23	31	and	and	CCONJ
gp-215	23	32	warner	warner	PROPN
gp-215	23	33	1980	1980	NUM
gp-215	23	34	,	,	PUNCT
gp-215	23	35	1985	1985	NUM
gp-215	23	36	)	)	PUNCT
gp-215	23	37	provide	provide	VERB
gp-215	23	38	a	a	DET
gp-215	23	39	robust	robust	ADJ
gp-215	23	40	framework	framework	NOUN
gp-215	23	41	for	for	ADP
gp-215	23	42	identifying	identify	VERB
gp-215	23	43	stock	stock	NOUN
gp-215	23	44	price	price	NOUN
gp-215	23	45	or	or	CCONJ
gp-215	23	46	trading	trading	NOUN
gp-215	23	47	behavior	behavior	NOUN
gp-215	23	48	when	when	SCONJ
gp-215	23	49	events	event	NOUN
gp-215	23	50	are	be	AUX
gp-215	23	51	unexpected	unexpected	ADJ
gp-215	23	52	and	and	CCONJ
gp-215	23	53	untainted	untainted	ADJ
gp-215	23	54	(	(	PUNCT
gp-215	23	55	i.e.	i.e.	X
gp-215	23	56	influenced	influence	VERB
gp-215	23	57	)	)	PUNCT
gp-215	23	58	by	by	ADP
gp-215	23	59	additional	additional	ADJ
gp-215	23	60	news	news	NOUN
gp-215	23	61	(	(	PUNCT
gp-215	23	62	mackinlay	mackinlay	NOUN
gp-215	23	63	,	,	PUNCT
gp-215	23	64	1997	1997	NUM
gp-215	23	65	;	;	PUNCT
gp-215	23	66	martins	martin	NOUN
gp-215	23	67	&	&	CCONJ
gp-215	23	68	cró	cró	PROPN
gp-215	23	69	,	,	PUNCT
gp-215	23	70	2022	2022	NUM
gp-215	23	71	)	)	PUNCT
gp-215	23	72	.	.	PUNCT
gp-215	24	1	research	research	NOUN
gp-215	24	2	using	use	VERB
gp-215	24	3	event	event	NOUN
gp-215	24	4	methodology	methodology	NOUN
gp-215	24	5	on	on	ADP
gp-215	24	6	sovereign	sovereign	ADJ
gp-215	24	7	wealth	wealth	NOUN
gp-215	24	8	funds	fund	NOUN
gp-215	24	9	(	(	PUNCT
gp-215	24	10	swfs	swfs	NOUN
gp-215	24	11	)	)	PUNCT
gp-215	24	12	has	have	AUX
gp-215	24	13	primarily	primarily	ADV
gp-215	24	14	examined	examine	VERB
gp-215	24	15	developed	developed	ADJ
gp-215	24	16	markets	market	NOUN
gp-215	24	17	.	.	PUNCT
gp-215	25	1	for	for	ADP
gp-215	25	2	example	example	NOUN
gp-215	25	3	,	,	PUNCT
gp-215	25	4	bortolotti	bortolotti	NOUN
gp-215	25	5	et	et	PROPN
gp-215	25	6	al	al	PROPN
gp-215	25	7	.	.	PROPN
gp-215	26	1	(	(	PUNCT
gp-215	26	2	2015	2015	NUM
gp-215	26	3	)	)	PUNCT
gp-215	26	4	found	find	VERB
gp-215	26	5	that	that	SCONJ
gp-215	26	6	it	it	PRON
gp-215	26	7	's	be	AUX
gp-215	26	8	easier	easy	ADJ
gp-215	26	9	for	for	SCONJ
gp-215	26	10	developed	develop	VERB
gp-215	26	11	markets	market	NOUN
gp-215	26	12	to	to	PART
gp-215	26	13	resolve	resolve	VERB
gp-215	26	14	information	information	NOUN
gp-215	26	15	asymmetry	asymmetry	NOUN
gp-215	26	16	with	with	ADP
gp-215	26	17	swf	swf	PROPN
gp-215	26	18	investments	investment	NOUN
gp-215	26	19	through	through	ADP
gp-215	26	20	improved	improved	ADJ
gp-215	26	21	transparency	transparency	NOUN
gp-215	26	22	,	,	PUNCT
gp-215	26	23	and	and	CCONJ
gp-215	26	24	developed	develop	VERB
gp-215	26	25	markets	market	NOUN
gp-215	26	26	are	be	AUX
gp-215	26	27	much	much	ADV
gp-215	26	28	more	more	ADV
gp-215	26	29	likely	likely	ADJ
gp-215	26	30	to	to	PART
gp-215	26	31	find	find	VERB
gp-215	26	32	real	real	ADJ
gp-215	26	33	value	value	NOUN
gp-215	26	34	for	for	ADP
gp-215	26	35	all	all	DET
gp-215	26	36	firms	firm	NOUN
gp-215	26	37	with	with	ADP
gp-215	26	38	swf	swf	PROPN
gp-215	26	39	investments	investment	NOUN
gp-215	26	40	.	.	PUNCT
gp-215	27	1	this	this	PRON
gp-215	27	2	might	might	AUX
gp-215	27	3	not	not	PART
gp-215	27	4	be	be	AUX
gp-215	27	5	the	the	DET
gp-215	27	6	case	case	NOUN
gp-215	27	7	for	for	ADP
gp-215	27	8	less	less	ADJ
gp-215	27	9	developed	developed	ADJ
gp-215	27	10	markets	market	NOUN
gp-215	27	11	,	,	PUNCT
gp-215	27	12	where	where	SCONJ
gp-215	27	13	there	there	PRON
gp-215	27	14	is	be	VERB
gp-215	27	15	more	more	ADJ
gp-215	27	16	information	information	NOUN
gp-215	27	17	asymmetry	asymmetry	NOUN
gp-215	27	18	,	,	PUNCT
gp-215	27	19	liquidity	liquidity	NOUN
gp-215	27	20	constraints	constraint	NOUN
gp-215	27	21	,	,	PUNCT
gp-215	27	22	and	and	CCONJ
gp-215	27	23	retail	retail	ADJ
gp-215	27	24	trader	trader	NOUN
gp-215	27	25	dominance	dominance	NOUN
gp-215	27	26	.	.	PUNCT
gp-215	28	1	fernandes	fernandes	PROPN
gp-215	28	2	and	and	CCONJ
gp-215	28	3	ferreira	ferreira	PROPN
gp-215	28	4	(	(	PUNCT
gp-215	28	5	2013	2013	NUM
gp-215	28	6	)	)	PUNCT
gp-215	28	7	,	,	PUNCT
gp-215	28	8	and	and	CCONJ
gp-215	28	9	morck	morck	PROPN
gp-215	28	10	et	et	PROPN
gp-215	28	11	al	al	PROPN
gp-215	28	12	.	.	PROPN
gp-215	28	13	,	,	PUNCT
gp-215	28	14	(	(	PUNCT
gp-215	28	15	2000	2000	NUM
gp-215	28	16	)	)	PUNCT
gp-215	28	17	have	have	AUX
gp-215	28	18	noted	note	VERB
gp-215	28	19	,	,	PUNCT
gp-215	28	20	in	in	ADP
gp-215	28	21	emerging	emerge	VERB
gp-215	28	22	economies	economy	NOUN
gp-215	28	23	,	,	PUNCT
gp-215	28	24	we	we	PRON
gp-215	28	25	may	may	AUX
gp-215	28	26	see	see	VERB
gp-215	28	27	more	more	ADV
gp-215	28	28	significant	significant	ADJ
gp-215	28	29	market	market	NOUN
gp-215	28	30	dislocation	dislocation	NOUN
gp-215	28	31	in	in	ADP
gp-215	28	32	microstructure	microstructure	ADJ
gp-215	28	33	measures	measure	NOUN
gp-215	28	34	(	(	PUNCT
gp-215	28	35	trading	trading	NOUN
gp-215	28	36	volume	volume	NOUN
gp-215	28	37	and	and	CCONJ
gp-215	28	38	illiquidity	illiquidity	NOUN
gp-215	28	39	)	)	PUNCT
gp-215	28	40	than	than	SCONJ
gp-215	28	41	we	we	PRON
gp-215	28	42	do	do	VERB
gp-215	28	43	in	in	ADP
gp-215	28	44	stock	stock	NOUN
gp-215	28	45	returns	return	NOUN
gp-215	28	46	.	.	PUNCT
gp-215	29	1	overall	overall	ADV
gp-215	29	2	,	,	PUNCT
gp-215	29	3	while	while	SCONJ
gp-215	29	4	studies	study	NOUN
gp-215	29	5	examining	examine	VERB
gp-215	29	6	swfs	swfs	PROPN
gp-215	29	7	are	be	AUX
gp-215	29	8	becoming	become	VERB
gp-215	29	9	more	more	ADV
gp-215	29	10	popular	popular	ADJ
gp-215	29	11	,	,	PUNCT
gp-215	29	12	little	little	ADJ
gp-215	29	13	research	research	NOUN
gp-215	29	14	examines	examine	VERB
gp-215	29	15	the	the	DET
gp-215	29	16	responding	respond	VERB
gp-215	29	17	southeast	southeast	ADJ
gp-215	29	18	asian	asian	ADJ
gp-215	29	19	funds	fund	NOUN
gp-215	29	20	available	available	ADJ
gp-215	29	21	,	,	PUNCT
gp-215	29	22	especially	especially	ADV
gp-215	29	23	to	to	PART
gp-215	29	24	develop	develop	VERB
gp-215	29	25	some	some	DET
gp-215	29	26	marketadjusted	marketadjuste	VERB
gp-215	29	27	short	short	ADJ
gp-215	29	28	-	-	PUNCT
gp-215	29	29	term	term	NOUN
gp-215	29	30	market	market	NOUN
gp-215	29	31	reaction	reaction	NOUN
gp-215	29	32	and	and	CCONJ
gp-215	29	33	price	price	NOUN
gp-215	29	34	/	/	SYM
gp-215	29	35	microstructure	microstructure	NOUN
gp-215	29	36	behaviour	behaviour	NOUN
gp-215	29	37	.	.	PUNCT
gp-215	30	1	prior	prior	ADJ
gp-215	30	2	studies	study	NOUN
gp-215	30	3	explored	explore	VERB
gp-215	30	4	either	either	DET
gp-215	30	5	price	price	NOUN
gp-215	30	6	effects	effect	NOUN
gp-215	30	7	(	(	PUNCT
gp-215	30	8	abnormal	abnormal	ADJ
gp-215	30	9	returns	return	NOUN
gp-215	30	10	)	)	PUNCT
gp-215	30	11	or	or	CCONJ
gp-215	30	12	trading	trading	NOUN
gp-215	30	13	behaviour	behaviour	NOUN
gp-215	30	14	(	(	PUNCT
gp-215	30	15	volume	volume	NOUN
gp-215	30	16	,	,	PUNCT
gp-215	30	17	liquidity	liquidity	NOUN
gp-215	30	18	)	)	PUNCT
gp-215	30	19	without	without	ADP
gp-215	30	20	considering	consider	VERB
gp-215	30	21	price	price	NOUN
gp-215	30	22	and	and	CCONJ
gp-215	30	23	microstructure	microstructure	VERB
gp-215	30	24	together	together	ADV
gp-215	30	25	(	(	PUNCT
gp-215	30	26	amihud	amihud	PROPN
gp-215	30	27	,	,	PUNCT
gp-215	30	28	2002	2002	NUM
gp-215	30	29	;	;	PUNCT
gp-215	30	30	chordia	chordia	NOUN
gp-215	30	31	et	et	NOUN
gp-215	30	32	al	al	PROPN
gp-215	30	33	.	.	PROPN
gp-215	30	34	,	,	PUNCT
gp-215	30	35	2005	2005	NUM
gp-215	30	36	)	)	PUNCT
gp-215	30	37	,	,	PUNCT
gp-215	30	38	and	and	CCONJ
gp-215	30	39	none	none	NOUN
gp-215	30	40	significantly	significantly	ADV
gp-215	30	41	examined	examine	VERB
gp-215	30	42	abnormal	abnormal	ADJ
gp-215	30	43	returns	return	NOUN
gp-215	30	44	and	and	CCONJ
gp-215	30	45	trading	trading	NOUN
gp-215	30	46	behaviour	behaviour	NOUN
gp-215	30	47	in	in	ADP
gp-215	30	48	emergent	emergent	ADJ
gp-215	30	49	markets	market	NOUN
gp-215	30	50	like	like	ADP
gp-215	30	51	indonesia	indonesia	PROPN
gp-215	30	52	.	.	PUNCT
gp-215	31	1	this	this	DET
gp-215	31	2	paper	paper	NOUN
gp-215	31	3	intends	intend	VERB
gp-215	31	4	to	to	PART
gp-215	31	5	help	help	VERB
gp-215	31	6	fill	fill	VERB
gp-215	31	7	those	those	DET
gp-215	31	8	gaps	gap	NOUN
gp-215	31	9	.	.	PUNCT
gp-215	32	1	this	this	DET
gp-215	32	2	study	study	NOUN
gp-215	32	3	will	will	AUX
gp-215	32	4	add	add	VERB
gp-215	32	5	additional	additional	ADJ
gp-215	32	6	knowledge	knowledge	NOUN
gp-215	32	7	to	to	ADP
gp-215	32	8	the	the	DET
gp-215	32	9	literature	literature	NOUN
gp-215	32	10	in	in	ADP
gp-215	32	11	three	three	NUM
gp-215	32	12	ways	way	NOUN
gp-215	32	13	.	.	PUNCT
gp-215	33	1	first	first	ADV
gp-215	33	2	,	,	PUNCT
gp-215	33	3	by	by	ADP
gp-215	33	4	studying	study	VERB
gp-215	33	5	the	the	DET
gp-215	33	6	stock	stock	NOUN
gp-215	33	7	price	price	NOUN
gp-215	33	8	and	and	CCONJ
gp-215	33	9	trading	trading	NOUN
gp-215	33	10	behavior	behavior	NOUN
gp-215	33	11	around	around	ADP
gp-215	33	12	danantara	danantara	PROPN
gp-215	33	13	's	's	PART
gp-215	33	14	announcement	announcement	NOUN
gp-215	33	15	,	,	PUNCT
gp-215	33	16	the	the	DET
gp-215	33	17	paper	paper	NOUN
gp-215	33	18	adds	add	VERB
gp-215	33	19	empirical	empirical	ADJ
gp-215	33	20	evidence	evidence	NOUN
gp-215	33	21	to	to	ADP
gp-215	33	22	the	the	DET
gp-215	33	23	stock	stock	NOUN
gp-215	33	24	market	market	NOUN
gp-215	33	25	literature	literature	NOUN
gp-215	33	26	in	in	ADP
gp-215	33	27	an	an	DET
gp-215	33	28	underexplored	underexplored	ADJ
gp-215	33	29	region	region	NOUN
gp-215	33	30	.	.	PUNCT
gp-215	34	1	second	second	ADV
gp-215	34	2	,	,	PUNCT
gp-215	34	3	the	the	DET
gp-215	34	4	research	research	NOUN
gp-215	34	5	study	study	NOUN
gp-215	34	6	uses	use	VERB
gp-215	34	7	event	event	NOUN
gp-215	34	8	study	study	NOUN
gp-215	34	9	analysis	analysis	NOUN
gp-215	34	10	,	,	PUNCT
gp-215	34	11	but	but	CCONJ
gp-215	34	12	differs	differ	VERB
gp-215	34	13	from	from	ADP
gp-215	34	14	existing	exist	VERB
gp-215	34	15	studies	study	NOUN
gp-215	34	16	in	in	ADP
gp-215	34	17	integrating	integrate	VERB
gp-215	34	18	price	price	NOUN
gp-215	34	19	measures	measure	NOUN
gp-215	34	20	with	with	ADP
gp-215	34	21	market	market	NOUN
gp-215	34	22	microstructure	microstructure	NOUN
gp-215	34	23	factors	factor	NOUN
gp-215	34	24	.	.	PUNCT
gp-215	35	1	third	third	ADV
gp-215	35	2	,	,	PUNCT
gp-215	35	3	the	the	DET
gp-215	35	4	study	study	NOUN
gp-215	35	5	provides	provide	VERB
gp-215	35	6	evidence	evidence	NOUN
gp-215	35	7	of	of	ADP
gp-215	35	8	reactions	reaction	NOUN
gp-215	35	9	at	at	ADP
gp-215	35	10	both	both	CCONJ
gp-215	35	11	the	the	DET
gp-215	35	12	firm	firm	ADJ
gp-215	35	13	level	level	NOUN
gp-215	35	14	(	(	PUNCT
gp-215	35	15	soes	soe	NOUN
gp-215	35	16	)	)	PUNCT
gp-215	35	17	and	and	CCONJ
gp-215	35	18	market	market	NOUN
gp-215	35	19	level	level	NOUN
gp-215	35	20	(	(	PUNCT
gp-215	35	21	ihsg	ihsg	NOUN
gp-215	35	22	)	)	PUNCT
gp-215	35	23	and	and	CCONJ
gp-215	35	24	helps	help	VERB
gp-215	35	25	to	to	PART
gp-215	35	26	identify	identify	VERB
gp-215	35	27	potential	potential	ADJ
gp-215	35	28	systemic	systemic	ADJ
gp-215	35	29	effects	effect	NOUN
gp-215	35	30	of	of	ADP
gp-215	35	31	major	major	ADJ
gp-215	35	32	institutional	institutional	ADJ
gp-215	35	33	reforms	reform	NOUN
gp-215	35	34	.	.	PUNCT
gp-215	36	1	while	while	SCONJ
gp-215	36	2	existing	existing	ADJ
gp-215	36	3	literature	literature	NOUN
gp-215	36	4	on	on	ADP
gp-215	36	5	sovereign	sovereign	ADJ
gp-215	36	6	wealth	wealth	NOUN
gp-215	36	7	funds	fund	NOUN
gp-215	36	8	(	(	PUNCT
gp-215	36	9	swfs	swfs	NOUN
gp-215	36	10	)	)	PUNCT
gp-215	36	11	has	have	AUX
gp-215	36	12	explored	explore	VERB
gp-215	36	13	price	price	NOUN
gp-215	36	14	reactions	reaction	NOUN
gp-215	36	15	and	and	CCONJ
gp-215	36	16	trading	trading	NOUN
gp-215	36	17	behavior	behavior	NOUN
gp-215	36	18	separately	separately	ADV
gp-215	36	19	,	,	PUNCT
gp-215	36	20	there	there	PRON
gp-215	36	21	is	be	VERB
gp-215	36	22	a	a	DET
gp-215	36	23	notable	notable	ADJ
gp-215	36	24	lack	lack	NOUN
gp-215	36	25	of	of	ADP
gp-215	36	26	research	research	NOUN
gp-215	36	27	integrating	integrate	VERB
gp-215	36	28	both	both	DET
gp-215	36	29	price	price	NOUN
gp-215	36	30	-	-	PUNCT
gp-215	36	31	based	base	VERB
gp-215	36	32	and	and	CCONJ
gp-215	36	33	microstructure	microstructure	NOUN
gp-215	36	34	-	-	PUNCT
gp-215	36	35	based	base	VERB
gp-215	36	36	measures	measure	NOUN
gp-215	36	37	,	,	PUNCT
gp-215	36	38	especially	especially	ADV
gp-215	36	39	within	within	ADP
gp-215	36	40	the	the	DET
gp-215	36	41	context	context	NOUN
gp-215	36	42	of	of	ADP
gp-215	36	43	southeast	southeast	ADJ
gp-215	36	44	asian	asian	ADJ
gp-215	36	45	emerging	emerge	VERB
gp-215	36	46	markets	market	NOUN
gp-215	36	47	.	.	PUNCT
gp-215	37	1	most	most	ADJ
gp-215	37	2	prior	prior	ADJ
gp-215	37	3	studies	study	NOUN
gp-215	37	4	have	have	AUX
gp-215	37	5	concentrated	concentrate	VERB
gp-215	37	6	on	on	ADP
gp-215	37	7	developed	develop	VERB
gp-215	37	8	economies	economy	NOUN
gp-215	37	9	or	or	CCONJ
gp-215	37	10	on	on	ADP
gp-215	37	11	swf	swf	PROPN
gp-215	37	12	investment	investment	NOUN
gp-215	37	13	reni	reni	PROPN
gp-215	37	14	lestari	lestari	PROPN
gp-215	37	15	,	,	PUNCT
gp-215	37	16	lindsay	lindsay	PROPN
gp-215	37	17	carnelian	carnelian	PROPN
gp-215	37	18	emily	emily	PROPN
gp-215	37	19	391	391	NUM
gp-215	37	20	actions	action	NOUN
gp-215	37	21	rather	rather	ADV
gp-215	37	22	than	than	ADP
gp-215	37	23	announcements	announcement	NOUN
gp-215	37	24	.	.	PUNCT
gp-215	38	1	moreover	moreover	ADV
gp-215	38	2	,	,	PUNCT
gp-215	38	3	indonesia	indonesia	PROPN
gp-215	38	4	’s	’s	PART
gp-215	38	5	unique	unique	ADJ
gp-215	38	6	investor	investor	NOUN
gp-215	38	7	composition	composition	NOUN
gp-215	38	8	—	—	PUNCT
gp-215	38	9	dominated	dominate	VERB
gp-215	38	10	by	by	ADP
gp-215	38	11	retail	retail	ADJ
gp-215	38	12	traders	trader	NOUN
gp-215	38	13	—	—	PUNCT
gp-215	38	14	and	and	CCONJ
gp-215	38	15	opaque	opaque	ADJ
gp-215	38	16	institutional	institutional	ADJ
gp-215	38	17	environment	environment	NOUN
gp-215	38	18	are	be	AUX
gp-215	38	19	underexamined	underexamine	VERB
gp-215	38	20	in	in	ADP
gp-215	38	21	empirical	empirical	ADJ
gp-215	38	22	capital	capital	NOUN
gp-215	38	23	market	market	NOUN
gp-215	38	24	research	research	NOUN
gp-215	38	25	,	,	PUNCT
gp-215	38	26	leaving	leave	VERB
gp-215	38	27	a	a	DET
gp-215	38	28	critical	critical	ADJ
gp-215	38	29	gap	gap	NOUN
gp-215	38	30	in	in	ADP
gp-215	38	31	understanding	understand	VERB
gp-215	38	32	how	how	SCONJ
gp-215	38	33	policy	policy	NOUN
gp-215	38	34	announcements	announcement	NOUN
gp-215	38	35	like	like	ADP
gp-215	38	36	danantara	danantara	NOUN
gp-215	38	37	are	be	AUX
gp-215	38	38	processed	process	VERB
gp-215	38	39	by	by	ADP
gp-215	38	40	such	such	ADJ
gp-215	38	41	markets	market	NOUN
gp-215	38	42	.	.	PUNCT
gp-215	39	1	this	this	DET
gp-215	39	2	study	study	NOUN
gp-215	39	3	introduces	introduce	VERB
gp-215	39	4	a	a	DET
gp-215	39	5	dual	dual	ADV
gp-215	39	6	-	-	PUNCT
gp-215	39	7	dimensional	dimensional	ADJ
gp-215	39	8	framework	framework	NOUN
gp-215	39	9	combining	combine	VERB
gp-215	39	10	price	price	NOUN
gp-215	39	11	metrics	metric	NOUN
gp-215	39	12	(	(	PUNCT
gp-215	39	13	ar	ar	NOUN
gp-215	39	14	/	/	SYM
gp-215	39	15	car	car	NOUN
gp-215	39	16	)	)	PUNCT
gp-215	39	17	with	with	ADP
gp-215	39	18	market	market	NOUN
gp-215	39	19	microstructure	microstructure	ADJ
gp-215	39	20	indicators	indicator	NOUN
gp-215	39	21	(	(	PUNCT
gp-215	39	22	av	av	NOUN
gp-215	39	23	,	,	PUNCT
gp-215	39	24	tva	tva	PROPN
gp-215	39	25	,	,	PUNCT
gp-215	39	26	and	and	CCONJ
gp-215	39	27	illiq	illiq	ADV
gp-215	39	28	)	)	PUNCT
gp-215	39	29	to	to	PART
gp-215	39	30	analyze	analyze	VERB
gp-215	39	31	the	the	DET
gp-215	39	32	announcement	announcement	NOUN
gp-215	39	33	of	of	ADP
gp-215	39	34	indonesia	indonesia	PROPN
gp-215	39	35	's	's	PART
gp-215	39	36	danantara	danantara	PROPN
gp-215	39	37	swf	swf	PROPN
gp-215	39	38	.	.	PUNCT
gp-215	40	1	unlike	unlike	ADP
gp-215	40	2	previous	previous	ADJ
gp-215	40	3	research	research	NOUN
gp-215	40	4	that	that	PRON
gp-215	40	5	focuses	focus	VERB
gp-215	40	6	exclusively	exclusively	ADV
gp-215	40	7	on	on	ADP
gp-215	40	8	pricing	pricing	NOUN
gp-215	40	9	or	or	CCONJ
gp-215	40	10	volume	volume	NOUN
gp-215	40	11	,	,	PUNCT
gp-215	40	12	this	this	DET
gp-215	40	13	research	research	NOUN
gp-215	40	14	reveals	reveal	VERB
gp-215	40	15	that	that	SCONJ
gp-215	40	16	while	while	SCONJ
gp-215	40	17	prices	price	NOUN
gp-215	40	18	remained	remain	VERB
gp-215	40	19	largely	largely	ADV
gp-215	40	20	inert	inert	ADJ
gp-215	40	21	,	,	PUNCT
gp-215	40	22	behavioral	behavioral	ADJ
gp-215	40	23	responses	response	NOUN
gp-215	40	24	emerged	emerge	VERB
gp-215	40	25	strongly	strongly	ADV
gp-215	40	26	through	through	ADP
gp-215	40	27	trading	trading	NOUN
gp-215	40	28	activity	activity	NOUN
gp-215	40	29	and	and	CCONJ
gp-215	40	30	liquidity	liquidity	NOUN
gp-215	40	31	shifts	shift	NOUN
gp-215	40	32	.	.	PUNCT
gp-215	41	1	additionally	additionally	ADV
gp-215	41	2	,	,	PUNCT
gp-215	41	3	this	this	DET
gp-215	41	4	study	study	NOUN
gp-215	41	5	is	be	AUX
gp-215	41	6	among	among	ADP
gp-215	41	7	the	the	DET
gp-215	41	8	first	first	ADJ
gp-215	41	9	to	to	PART
gp-215	41	10	provide	provide	VERB
gp-215	41	11	empirical	empirical	ADJ
gp-215	41	12	evidence	evidence	NOUN
gp-215	41	13	at	at	ADP
gp-215	41	14	both	both	CCONJ
gp-215	41	15	the	the	DET
gp-215	41	16	firm	firm	NOUN
gp-215	41	17	(	(	PUNCT
gp-215	41	18	soe	soe	PROPN
gp-215	41	19	)	)	PUNCT
gp-215	41	20	and	and	CCONJ
gp-215	41	21	aggregate	aggregate	ADJ
gp-215	41	22	(	(	PUNCT
gp-215	41	23	ihsg	ihsg	NOUN
gp-215	41	24	)	)	PUNCT
gp-215	41	25	levels	level	NOUN
gp-215	41	26	,	,	PUNCT
gp-215	41	27	contributing	contribute	VERB
gp-215	41	28	to	to	ADP
gp-215	41	29	a	a	DET
gp-215	41	30	more	more	ADV
gp-215	41	31	systemic	systemic	ADJ
gp-215	41	32	understanding	understanding	NOUN
gp-215	41	33	of	of	ADP
gp-215	41	34	institutional	institutional	ADJ
gp-215	41	35	reform	reform	NOUN
gp-215	41	36	reactions	reaction	NOUN
gp-215	41	37	in	in	ADP
gp-215	41	38	southeast	southeast	PROPN
gp-215	41	39	asia	asia	PROPN
gp-215	41	40	.	.	PUNCT
gp-215	42	1	the	the	DET
gp-215	42	2	purpose	purpose	NOUN
gp-215	42	3	of	of	ADP
gp-215	42	4	addressing	address	VERB
gp-215	42	5	these	these	DET
gp-215	42	6	questions	question	NOUN
gp-215	42	7	is	be	AUX
gp-215	42	8	to	to	PART
gp-215	42	9	shed	shed	VERB
gp-215	42	10	light	light	NOUN
gp-215	42	11	as	as	ADP
gp-215	42	12	to	to	ADP
gp-215	42	13	how	how	SCONJ
gp-215	42	14	investors	investor	NOUN
gp-215	42	15	in	in	ADP
gp-215	42	16	emerging	emerge	VERB
gp-215	42	17	markets	market	NOUN
gp-215	42	18	process	process	VERB
gp-215	42	19	institutional	institutional	ADJ
gp-215	42	20	reform	reform	NOUN
gp-215	42	21	undertaken	undertake	VERB
gp-215	42	22	by	by	ADP
gp-215	42	23	the	the	DET
gp-215	42	24	government	government	NOUN
gp-215	42	25	in	in	ADP
gp-215	42	26	the	the	DET
gp-215	42	27	form	form	NOUN
gp-215	42	28	of	of	ADP
gp-215	42	29	significant	significant	ADJ
gp-215	42	30	changes	change	NOUN
gp-215	42	31	to	to	ADP
gp-215	42	32	soe	soe	ADJ
gp-215	42	33	management	management	NOUN
gp-215	42	34	.	.	PUNCT
gp-215	43	1	this	this	PRON
gp-215	43	2	will	will	AUX
gp-215	43	3	provide	provide	VERB
gp-215	43	4	useful	useful	ADJ
gp-215	43	5	information	information	NOUN
gp-215	43	6	to	to	ADP
gp-215	43	7	policymakers	policymaker	NOUN
gp-215	43	8	,	,	PUNCT
gp-215	43	9	investors	investor	NOUN
gp-215	43	10	,	,	PUNCT
gp-215	43	11	and	and	CCONJ
gp-215	43	12	scholars	scholar	NOUN
gp-215	43	13	interested	interested	ADJ
gp-215	43	14	in	in	ADP
gp-215	43	15	the	the	DET
gp-215	43	16	management	management	NOUN
gp-215	43	17	of	of	ADP
gp-215	43	18	sovereign	sovereign	ADJ
gp-215	43	19	wealth	wealth	NOUN
gp-215	43	20	and	and	CCONJ
gp-215	43	21	financial	financial	ADJ
gp-215	43	22	market	market	NOUN
gp-215	43	23	development	development	NOUN
gp-215	43	24	.	.	PUNCT
gp-215	44	1	this	this	DET
gp-215	44	2	study	study	NOUN
gp-215	44	3	provides	provide	VERB
gp-215	44	4	practical	practical	ADJ
gp-215	44	5	insights	insight	NOUN
gp-215	44	6	for	for	ADP
gp-215	44	7	policymakers	policymaker	NOUN
gp-215	44	8	,	,	PUNCT
gp-215	44	9	financial	financial	ADJ
gp-215	44	10	analysts	analyst	NOUN
gp-215	44	11	,	,	PUNCT
gp-215	44	12	and	and	CCONJ
gp-215	44	13	investors	investor	NOUN
gp-215	44	14	by	by	ADP
gp-215	44	15	demonstrating	demonstrate	VERB
gp-215	44	16	that	that	DET
gp-215	44	17	policy	policy	NOUN
gp-215	44	18	credibility	credibility	NOUN
gp-215	44	19	and	and	CCONJ
gp-215	44	20	implementation	implementation	NOUN
gp-215	44	21	clarity	clarity	NOUN
gp-215	44	22	are	be	AUX
gp-215	44	23	more	more	ADV
gp-215	44	24	influential	influential	ADJ
gp-215	44	25	in	in	ADP
gp-215	44	26	emerging	emerge	VERB
gp-215	44	27	markets	market	NOUN
gp-215	44	28	than	than	ADP
gp-215	44	29	symbolic	symbolic	ADJ
gp-215	44	30	announcements	announcement	NOUN
gp-215	44	31	.	.	PUNCT
gp-215	45	1	the	the	DET
gp-215	45	2	findings	finding	NOUN
gp-215	45	3	underscore	underscore	VERB
gp-215	45	4	the	the	DET
gp-215	45	5	role	role	NOUN
gp-215	45	6	of	of	ADP
gp-215	45	7	investor	investor	NOUN
gp-215	45	8	behavior	behavior	NOUN
gp-215	45	9	,	,	PUNCT
gp-215	45	10	particularly	particularly	ADV
gp-215	45	11	in	in	ADP
gp-215	45	12	retail	retail	NOUN
gp-215	45	13	-	-	PUNCT
gp-215	45	14	dominated	dominate	VERB
gp-215	45	15	markets	market	NOUN
gp-215	45	16	,	,	PUNCT
gp-215	45	17	and	and	CCONJ
gp-215	45	18	emphasize	emphasize	VERB
gp-215	45	19	the	the	DET
gp-215	45	20	value	value	NOUN
gp-215	45	21	of	of	ADP
gp-215	45	22	using	use	VERB
gp-215	45	23	microstructure	microstructure	ADJ
gp-215	45	24	indicators	indicator	NOUN
gp-215	45	25	to	to	PART
gp-215	45	26	assess	assess	VERB
gp-215	45	27	market	market	NOUN
gp-215	45	28	sentiment	sentiment	NOUN
gp-215	45	29	.	.	PUNCT
gp-215	46	1	for	for	ADP
gp-215	46	2	researchers	researcher	NOUN
gp-215	46	3	,	,	PUNCT
gp-215	46	4	this	this	DET
gp-215	46	5	dual	dual	ADJ
gp-215	46	6	-	-	PUNCT
gp-215	46	7	metric	metric	ADJ
gp-215	46	8	approach	approach	NOUN
gp-215	46	9	offers	offer	VERB
gp-215	46	10	a	a	DET
gp-215	46	11	replicable	replicable	ADJ
gp-215	46	12	model	model	NOUN
gp-215	46	13	for	for	ADP
gp-215	46	14	evaluating	evaluate	VERB
gp-215	46	15	institutional	institutional	ADJ
gp-215	46	16	reforms	reform	NOUN
gp-215	46	17	in	in	ADP
gp-215	46	18	similar	similar	ADJ
gp-215	46	19	emerging	emerge	VERB
gp-215	46	20	market	market	NOUN
gp-215	46	21	contexts	contexts	NOUN
gp-215	46	22	.	.	PUNCT
gp-215	47	1	research	research	NOUN
gp-215	47	2	methods	method	NOUN
gp-215	47	3	this	this	DET
gp-215	47	4	study	study	NOUN
gp-215	47	5	implemented	implement	VERB
gp-215	47	6	an	an	DET
gp-215	47	7	event	event	NOUN
gp-215	47	8	study	study	NOUN
gp-215	47	9	method	method	NOUN
gp-215	47	10	to	to	PART
gp-215	47	11	investigate	investigate	VERB
gp-215	47	12	the	the	DET
gp-215	47	13	effect	effect	NOUN
gp-215	47	14	of	of	ADP
gp-215	47	15	the	the	DET
gp-215	47	16	announcement	announcement	NOUN
gp-215	47	17	of	of	ADP
gp-215	47	18	danantara	danantara	PROPN
gp-215	47	19	,	,	PUNCT
gp-215	47	20	indonesia	indonesia	PROPN
gp-215	47	21	's	's	PART
gp-215	47	22	sovereign	sovereign	ADJ
gp-215	47	23	wealth	wealth	NOUN
gp-215	47	24	fund	fund	NOUN
gp-215	47	25	,	,	PUNCT
gp-215	47	26	on	on	ADP
gp-215	47	27	the	the	DET
gp-215	47	28	domestic	domestic	ADJ
gp-215	47	29	equity	equity	NOUN
gp-215	47	30	market	market	NOUN
gp-215	47	31	.	.	PUNCT
gp-215	48	1	the	the	DET
gp-215	48	2	event	event	NOUN
gp-215	48	3	study	study	NOUN
gp-215	48	4	method	method	NOUN
gp-215	48	5	is	be	AUX
gp-215	48	6	well	well	ADV
gp-215	48	7	suited	suited	ADJ
gp-215	48	8	to	to	PART
gp-215	48	9	see	see	VERB
gp-215	48	10	how	how	SCONJ
gp-215	48	11	fast	fast	ADJ
gp-215	48	12	and	and	CCONJ
gp-215	48	13	efficiently	efficiently	ADV
gp-215	48	14	a	a	DET
gp-215	48	15	market	market	NOUN
gp-215	48	16	reacts	react	VERB
gp-215	48	17	to	to	ADP
gp-215	48	18	new	new	ADJ
gp-215	48	19	public	public	ADJ
gp-215	48	20	information	information	NOUN
gp-215	48	21	(	(	PUNCT
gp-215	48	22	as	as	SCONJ
gp-215	48	23	stipulated	stipulate	VERB
gp-215	48	24	under	under	ADP
gp-215	48	25	the	the	DET
gp-215	48	26	efficient	efficient	ADJ
gp-215	48	27	market	market	NOUN
gp-215	48	28	hypotheses	hypothesis	NOUN
gp-215	48	29	emh	emh	PROPN
gp-215	48	30	)	)	PUNCT
gp-215	48	31	.	.	PUNCT
gp-215	49	1	the	the	DET
gp-215	49	2	study	study	NOUN
gp-215	49	3	furthermore	furthermore	ADV
gp-215	49	4	incorporates	incorporate	VERB
gp-215	49	5	a	a	DET
gp-215	49	6	market	market	NOUN
gp-215	49	7	microstructure	microstructure	NOUN
gp-215	49	8	approach	approach	NOUN
gp-215	49	9	of	of	ADP
gp-215	49	10	measuring	measure	VERB
gp-215	49	11	alterations	alteration	NOUN
gp-215	49	12	in	in	ADP
gp-215	49	13	trading	trading	NOUN
gp-215	49	14	behavior	behavior	NOUN
gp-215	49	15	and	and	CCONJ
gp-215	49	16	liquidity	liquidity	NOUN
gp-215	49	17	postannouncement	postannouncement	NOUN
gp-215	49	18	.	.	PUNCT
gp-215	50	1	by	by	ADP
gp-215	50	2	using	use	VERB
gp-215	50	3	return	return	NOUN
gp-215	50	4	-	-	PUNCT
gp-215	50	5	based	base	VERB
gp-215	50	6	and	and	CCONJ
gp-215	50	7	microstructure	microstructure	NOUN
gp-215	50	8	-	-	PUNCT
gp-215	50	9	based	base	VERB
gp-215	50	10	measures	measure	NOUN
gp-215	50	11	,	,	PUNCT
gp-215	50	12	we	we	PRON
gp-215	50	13	provide	provide	VERB
gp-215	50	14	a	a	DET
gp-215	50	15	more	more	ADV
gp-215	50	16	complete	complete	ADJ
gp-215	50	17	view	view	NOUN
gp-215	50	18	of	of	ADP
gp-215	50	19	how	how	SCONJ
gp-215	50	20	a	a	DET
gp-215	50	21	market	market	NOUN
gp-215	50	22	reacts	react	VERB
gp-215	50	23	.	.	PUNCT
gp-215	51	1	the	the	DET
gp-215	51	2	event	event	NOUN
gp-215	51	3	date	date	NOUN
gp-215	51	4	(	(	PUNCT
gp-215	51	5	t	t	NOUN
gp-215	51	6	=	=	SYM
gp-215	51	7	0	0	NUM
gp-215	51	8	)	)	PUNCT
gp-215	51	9	is	be	AUX
gp-215	51	10	defined	define	VERB
gp-215	51	11	as	as	ADP
gp-215	51	12	24	24	NUM
gp-215	51	13	february	february	NOUN
gp-215	51	14	2025	2025	NUM
gp-215	51	15	,	,	PUNCT
gp-215	51	16	the	the	DET
gp-215	51	17	date	date	NOUN
gp-215	51	18	that	that	PRON
gp-215	51	19	danantara	danantara	VERB
gp-215	51	20	’s	’s	PART
gp-215	51	21	formation	formation	NOUN
gp-215	51	22	was	be	AUX
gp-215	51	23	officially	officially	ADV
gp-215	51	24	announced	announce	VERB
gp-215	51	25	.	.	PUNCT
gp-215	52	1	an	an	DET
gp-215	52	2	event	event	NOUN
gp-215	52	3	window	window	NOUN
gp-215	52	4	of	of	ADP
gp-215	52	5	11	11	NUM
gp-215	52	6	trading	trading	NOUN
gp-215	52	7	days	day	NOUN
gp-215	52	8	(	(	PUNCT
gp-215	52	9	t–5	t–5	NUM
gp-215	52	10	to	to	ADP
gp-215	52	11	t+5	t+5	NUM
gp-215	52	12	)	)	PUNCT
gp-215	52	13	is	be	AUX
gp-215	52	14	created	create	VERB
gp-215	52	15	to	to	PART
gp-215	52	16	capture	capture	VERB
gp-215	52	17	the	the	DET
gp-215	52	18	immediate	immediate	ADJ
gp-215	52	19	market	market	NOUN
gp-215	52	20	reaction	reaction	NOUN
gp-215	52	21	before	before	ADP
gp-215	52	22	and	and	CCONJ
gp-215	52	23	after	after	ADP
gp-215	52	24	the	the	DET
gp-215	52	25	announcement	announcement	NOUN
gp-215	52	26	and	and	CCONJ
gp-215	52	27	to	to	PART
gp-215	52	28	avoid	avoid	VERB
gp-215	52	29	other	other	ADJ
gp-215	52	30	overlapping	overlap	VERB
gp-215	52	31	events	event	NOUN
gp-215	52	32	.	.	PUNCT
gp-215	53	1	reason	reason	NOUN
gp-215	53	2	of	of	ADP
gp-215	53	3	choosing	choose	VERB
gp-215	53	4	5	5	NUM
gp-215	53	5	days	day	NOUN
gp-215	53	6	to	to	PART
gp-215	53	7	assess	assess	VERB
gp-215	53	8	normal	normal	ADJ
gp-215	53	9	returns	return	NOUN
gp-215	53	10	,	,	PUNCT
gp-215	53	11	an	an	DET
gp-215	53	12	estimation	estimation	NOUN
gp-215	53	13	window	window	NOUN
gp-215	53	14	of	of	ADP
gp-215	53	15	120	120	NUM
gp-215	53	16	trading	trading	NOUN
gp-215	53	17	days	day	NOUN
gp-215	53	18	(	(	PUNCT
gp-215	53	19	t–125	t–125	NOUN
gp-215	53	20	to	to	PART
gp-215	53	21	t–6	t–6	NOUN
gp-215	53	22	)	)	PUNCT
gp-215	53	23	prior	prior	ADV
gp-215	53	24	to	to	ADP
gp-215	53	25	the	the	DET
gp-215	53	26	event	event	NOUN
gp-215	53	27	window	window	NOUN
gp-215	53	28	is	be	AUX
gp-215	53	29	used	use	VERB
gp-215	53	30	when	when	SCONJ
gp-215	53	31	estimating	estimate	VERB
gp-215	53	32	normal	normal	ADJ
gp-215	53	33	returns	return	NOUN
gp-215	53	34	as	as	ADP
gp-215	53	35	per	per	ADP
gp-215	53	36	basic	basic	ADJ
gp-215	53	37	practice	practice	NOUN
gp-215	53	38	(	(	PUNCT
gp-215	53	39	brown	brown	PROPN
gp-215	53	40	&	&	CCONJ
gp-215	53	41	warner	warner	PROPN
gp-215	53	42	,	,	PUNCT
gp-215	53	43	1985	1985	NUM
gp-215	53	44	)	)	PUNCT
gp-215	53	45	.	.	PUNCT
gp-215	54	1	figure	figure	NOUN
gp-215	54	2	1	1	NUM
gp-215	54	3	.	.	PUNCT
gp-215	54	4	estimation	estimation	NOUN
gp-215	54	5	period	period	NOUN
gp-215	54	6	and	and	CCONJ
gp-215	54	7	event	event	NOUN
gp-215	54	8	window	window	NOUN
gp-215	54	9	american	american	PROPN
gp-215	54	10	journal	journal	PROPN
gp-215	54	11	of	of	ADP
gp-215	54	12	economic	economic	ADJ
gp-215	54	13	and	and	CCONJ
gp-215	54	14	management	management	NOUN
gp-215	54	15	business	business	NOUN
gp-215	54	16	vol	vol	NOUN
gp-215	54	17	.	.	PROPN
gp-215	55	1	4	4	NUM
gp-215	55	2	no	no	NOUN
gp-215	55	3	.	.	NOUN
gp-215	55	4	5	5	NUM
gp-215	55	5	may	may	AUX
gp-215	55	6	2025	2025	NUM
gp-215	55	7	392	392	NUM
gp-215	55	8	the	the	DET
gp-215	55	9	data	datum	NOUN
gp-215	55	10	utilized	utilize	VERB
gp-215	55	11	in	in	ADP
gp-215	55	12	this	this	DET
gp-215	55	13	study	study	NOUN
gp-215	55	14	comprises	comprise	VERB
gp-215	55	15	ten	ten	NUM
gp-215	55	16	stocks	stock	NOUN
gp-215	55	17	from	from	ADP
gp-215	55	18	state	state	NOUN
gp-215	55	19	-	-	PUNCT
gp-215	55	20	owned	own	VERB
gp-215	55	21	companies	company	NOUN
gp-215	55	22	that	that	PRON
gp-215	55	23	are	be	AUX
gp-215	55	24	part	part	NOUN
gp-215	55	25	of	of	ADP
gp-215	55	26	the	the	DET
gp-215	55	27	danantara	danantara	NOUN
gp-215	55	28	formation	formation	NOUN
gp-215	55	29	.	.	PUNCT
gp-215	56	1	the	the	DET
gp-215	56	2	objective	objective	NOUN
gp-215	56	3	of	of	ADP
gp-215	56	4	this	this	DET
gp-215	56	5	analysis	analysis	NOUN
gp-215	56	6	is	be	AUX
gp-215	56	7	to	to	PART
gp-215	56	8	examine	examine	VERB
gp-215	56	9	how	how	SCONJ
gp-215	56	10	these	these	DET
gp-215	56	11	stocks	stock	NOUN
gp-215	56	12	respond	respond	VERB
gp-215	56	13	to	to	ADP
gp-215	56	14	market	market	NOUN
gp-215	56	15	fluctuations	fluctuation	NOUN
gp-215	56	16	.	.	PUNCT
gp-215	57	1	it	it	PRON
gp-215	57	2	is	be	AUX
gp-215	57	3	important	important	ADJ
gp-215	57	4	to	to	PART
gp-215	57	5	note	note	VERB
gp-215	57	6	that	that	SCONJ
gp-215	57	7	there	there	PRON
gp-215	57	8	are	be	VERB
gp-215	57	9	twelve	twelve	NUM
gp-215	57	10	state	state	NOUN
gp-215	57	11	-	-	PUNCT
gp-215	57	12	owned	own	VERB
gp-215	57	13	companies	company	NOUN
gp-215	57	14	listed	list	VERB
gp-215	57	15	on	on	ADP
gp-215	57	16	the	the	DET
gp-215	57	17	indonesia	indonesia	PROPN
gp-215	57	18	stock	stock	PROPN
gp-215	57	19	exchange	exchange	PROPN
gp-215	57	20	(	(	PUNCT
gp-215	57	21	idx	idx	PROPN
gp-215	57	22	)	)	PUNCT
gp-215	57	23	within	within	ADP
gp-215	57	24	the	the	DET
gp-215	57	25	danantara	danantara	NOUN
gp-215	57	26	formation	formation	NOUN
gp-215	57	27	;	;	PUNCT
gp-215	57	28	however	however	ADV
gp-215	57	29	,	,	PUNCT
gp-215	57	30	two	two	NUM
gp-215	57	31	of	of	ADP
gp-215	57	32	these	these	DET
gp-215	57	33	stocks	stock	NOUN
gp-215	57	34	are	be	AUX
gp-215	57	35	currently	currently	ADV
gp-215	57	36	suspended	suspend	VERB
gp-215	57	37	and	and	CCONJ
gp-215	57	38	have	have	AUX
gp-215	57	39	therefore	therefore	ADV
gp-215	57	40	been	be	AUX
gp-215	57	41	excluded	exclude	VERB
gp-215	57	42	from	from	ADP
gp-215	57	43	this	this	DET
gp-215	57	44	study	study	NOUN
gp-215	57	45	.	.	PUNCT
gp-215	58	1	in	in	ADP
gp-215	58	2	addition	addition	NOUN
gp-215	58	3	to	to	ADP
gp-215	58	4	the	the	DET
gp-215	58	5	selected	select	VERB
gp-215	58	6	stocks	stock	NOUN
gp-215	58	7	,	,	PUNCT
gp-215	58	8	the	the	DET
gp-215	58	9	analysis	analysis	NOUN
gp-215	58	10	incorporates	incorporate	VERB
gp-215	58	11	the	the	DET
gp-215	58	12	indonesia	indonesia	PROPN
gp-215	58	13	stock	stock	PROPN
gp-215	58	14	market	market	NOUN
gp-215	58	15	index	index	NOUN
gp-215	58	16	(	(	PUNCT
gp-215	58	17	ihsg	ihsg	NOUN
gp-215	58	18	)	)	PUNCT
gp-215	58	19	as	as	ADP
gp-215	58	20	a	a	DET
gp-215	58	21	market	market	NOUN
gp-215	58	22	proxy	proxy	NOUN
gp-215	58	23	,	,	PUNCT
gp-215	58	24	along	along	ADP
gp-215	58	25	with	with	ADP
gp-215	58	26	the	the	DET
gp-215	58	27	s&p	s&p	PROPN
gp-215	58	28	500	500	NUM
gp-215	58	29	for	for	ADP
gp-215	58	30	the	the	DET
gp-215	58	31	calculation	calculation	NOUN
gp-215	58	32	of	of	ADP
gp-215	58	33	the	the	DET
gp-215	58	34	ihsg	ihsg	NOUN
gp-215	58	35	return	return	NOUN
gp-215	58	36	market	market	NOUN
gp-215	58	37	model	model	NOUN
gp-215	58	38	.	.	PUNCT
gp-215	59	1	the	the	DET
gp-215	59	2	alpha	alpha	NOUN
gp-215	59	3	and	and	CCONJ
gp-215	59	4	beta	beta	ADJ
gp-215	59	5	values	value	NOUN
gp-215	59	6	for	for	ADP
gp-215	59	7	each	each	DET
gp-215	59	8	stock	stock	NOUN
gp-215	59	9	,	,	PUNCT
gp-215	59	10	as	as	ADV
gp-215	59	11	well	well	ADV
gp-215	59	12	as	as	ADP
gp-215	59	13	for	for	ADP
gp-215	59	14	the	the	DET
gp-215	59	15	market	market	NOUN
gp-215	59	16	index	index	NOUN
gp-215	59	17	,	,	PUNCT
gp-215	59	18	are	be	AUX
gp-215	59	19	calculated	calculate	VERB
gp-215	59	20	using	use	VERB
gp-215	59	21	daily	daily	ADJ
gp-215	59	22	historical	historical	ADJ
gp-215	59	23	data	datum	NOUN
gp-215	59	24	in	in	ADP
gp-215	59	25	the	the	DET
gp-215	59	26	estimation	estimation	NOUN
gp-215	59	27	period	period	NOUN
gp-215	59	28	.	.	PUNCT
gp-215	60	1	daily	daily	ADJ
gp-215	60	2	stock	stock	NOUN
gp-215	60	3	price	price	NOUN
gp-215	60	4	data	datum	NOUN
gp-215	60	5	has	have	AUX
gp-215	60	6	been	be	AUX
gp-215	60	7	sourced	source	VERB
gp-215	60	8	from	from	ADP
gp-215	60	9	investing.com	investing.com	X
gp-215	60	10	to	to	PART
gp-215	60	11	ensure	ensure	VERB
gp-215	60	12	accuracy	accuracy	NOUN
gp-215	60	13	and	and	CCONJ
gp-215	60	14	reliability	reliability	NOUN
gp-215	60	15	in	in	ADP
gp-215	60	16	the	the	DET
gp-215	60	17	analysis	analysis	NOUN
gp-215	60	18	.	.	PUNCT
gp-215	61	1	abnormal	abnormal	ADJ
gp-215	61	2	return	return	NOUN
gp-215	61	3	(	(	PUNCT
gp-215	61	4	ar	ar	NOUN
gp-215	61	5	)	)	PUNCT
gp-215	61	6	measurement	measurement	NOUN
gp-215	61	7	is	be	AUX
gp-215	61	8	done	do	VERB
gp-215	61	9	to	to	PART
gp-215	61	10	assess	assess	VERB
gp-215	61	11	market	market	NOUN
gp-215	61	12	reaction	reaction	NOUN
gp-215	61	13	to	to	ADP
gp-215	61	14	new	new	ADJ
gp-215	61	15	information	information	NOUN
gp-215	61	16	.	.	PUNCT
gp-215	62	1	this	this	DET
gp-215	62	2	study	study	NOUN
gp-215	62	3	uses	use	VERB
gp-215	62	4	several	several	ADJ
gp-215	62	5	steps	step	NOUN
gp-215	62	6	to	to	PART
gp-215	62	7	calculate	calculate	VERB
gp-215	62	8	the	the	DET
gp-215	62	9	abnormal	abnormal	ADJ
gp-215	62	10	return	return	NOUN
gp-215	62	11	variable	variable	NOUN
gp-215	62	12	(	(	PUNCT
gp-215	62	13	rofiah	rofiah	PROPN
gp-215	62	14	et	et	PROPN
gp-215	62	15	al	al	PROPN
gp-215	62	16	.	.	PROPN
gp-215	62	17	,	,	PUNCT
gp-215	62	18	2019	2019	NUM
gp-215	62	19	)	)	PUNCT
gp-215	62	20	.	.	PUNCT
gp-215	63	1	abnormal	abnormal	ADJ
gp-215	63	2	returns	return	NOUN
gp-215	63	3	estimated	estimate	VERB
gp-215	63	4	with	with	ADP
gp-215	63	5	the	the	DET
gp-215	63	6	following	follow	VERB
gp-215	63	7	equation	equation	NOUN
gp-215	63	8	:	:	PUNCT
gp-215	63	9	𝐴𝑅𝑖𝑡	𝐴𝑅𝑖𝑡	X
gp-215	63	10	=	=	PUNCT
gp-215	64	1	𝑅𝑖𝑡	𝑅𝑖𝑡	PROPN
gp-215	64	2	−	−	NOUN
gp-215	64	3	𝐸(𝑅𝑖𝑡	𝐸(𝑅𝑖𝑡	NOUN
gp-215	64	4	)	)	PUNCT
gp-215	64	5	where	where	SCONJ
gp-215	64	6	arit	arit	NOUN
gp-215	64	7	is	be	AUX
gp-215	64	8	abnormal	abnormal	ADJ
gp-215	64	9	return	return	NOUN
gp-215	64	10	,	,	PUNCT
gp-215	64	11	rit	rit	PROPN
gp-215	64	12	is	be	AUX
gp-215	64	13	realized	realize	VERB
gp-215	64	14	return	return	NOUN
gp-215	64	15	of	of	ADP
gp-215	64	16	stock	stock	NOUN
gp-215	64	17	i	i	PRON
gp-215	64	18	during	during	ADP
gp-215	64	19	the	the	DET
gp-215	64	20	period	period	NOUN
gp-215	64	21	and	and	CCONJ
gp-215	64	22	e(rit	e(rit	PROPN
gp-215	64	23	)	)	PUNCT
gp-215	64	24	is	be	AUX
gp-215	64	25	expected	expect	VERB
gp-215	64	26	return	return	NOUN
gp-215	64	27	of	of	ADP
gp-215	64	28	stock	stock	NOUN
gp-215	64	29	i	i	PRON
gp-215	64	30	during	during	ADP
gp-215	64	31	the	the	DET
gp-215	64	32	event	event	NOUN
gp-215	64	33	period	period	NOUN
gp-215	64	34	t.	t.	PROPN
gp-215	64	35	the	the	DET
gp-215	64	36	expected	expect	VERB
gp-215	64	37	return	return	NOUN
gp-215	64	38	estimated	estimate	VERB
gp-215	64	39	using	use	VERB
gp-215	64	40	market	market	NOUN
gp-215	64	41	model	model	NOUN
gp-215	64	42	with	with	ADP
gp-215	64	43	the	the	DET
gp-215	64	44	following	follow	VERB
gp-215	64	45	equation	equation	NOUN
gp-215	64	46	:	:	PUNCT
gp-215	64	47	𝐸(𝑅)𝑖𝑡	𝐸(𝑅)𝑖𝑡	PROPN
gp-215	64	48	=	=	SYM
gp-215	64	49	𝛼𝑖𝑡	𝛼𝑖𝑡	PROPN
gp-215	64	50	+	+	PUNCT
gp-215	64	51	𝛽𝑖𝑡	𝛽𝑖𝑡	VERB
gp-215	64	52	𝑅𝑚	𝑅𝑚	PROPN
gp-215	64	53	+	+	CCONJ
gp-215	64	54	𝜀𝑖	𝜀𝑖	ADP
gp-215	64	55	where	where	SCONJ
gp-215	64	56	αi	αi	PRON
gp-215	64	57	(	(	PUNCT
gp-215	64	58	alpha	alpha	NOUN
gp-215	64	59	)	)	PUNCT
gp-215	64	60	is	be	AUX
gp-215	64	61	the	the	DET
gp-215	64	62	intercept	intercept	NOUN
gp-215	64	63	of	of	ADP
gp-215	64	64	the	the	DET
gp-215	64	65	regression	regression	NOUN
gp-215	64	66	line	line	NOUN
gp-215	64	67	for	for	ADP
gp-215	64	68	stock	stock	NOUN
gp-215	64	69	i	i	PROPN
gp-215	64	70	,	,	PUNCT
gp-215	64	71	βi	βi	PROPN
gp-215	64	72	(	(	PUNCT
gp-215	64	73	beta	beta	NOUN
gp-215	64	74	)	)	PUNCT
gp-215	64	75	is	be	AUX
gp-215	64	76	the	the	DET
gp-215	64	77	sensitivity	sensitivity	NOUN
gp-215	64	78	of	of	ADP
gp-215	64	79	stock	stock	NOUN
gp-215	64	80	i	i	PRON
gp-215	64	81	to	to	ADP
gp-215	64	82	the	the	DET
gp-215	64	83	market	market	NOUN
gp-215	64	84	index	index	NOUN
gp-215	64	85	,	,	PUNCT
gp-215	64	86	rm	rm	PROPN
gp-215	64	87	is	be	AUX
gp-215	64	88	the	the	DET
gp-215	64	89	return	return	NOUN
gp-215	64	90	of	of	ADP
gp-215	64	91	market	market	NOUN
gp-215	64	92	in	in	ADP
gp-215	64	93	aggregate	aggregate	ADJ
gp-215	64	94	,	,	PUNCT
gp-215	64	95	and	and	CCONJ
gp-215	64	96	ɛi	ɛi	PROPN
gp-215	64	97	is	be	AUX
gp-215	64	98	the	the	DET
gp-215	64	99	error	error	NOUN
gp-215	64	100	term	term	NOUN
gp-215	64	101	.	.	PUNCT
gp-215	65	1	cumulative	cumulative	ADJ
gp-215	65	2	abnormal	abnormal	ADJ
gp-215	65	3	return	return	NOUN
gp-215	65	4	(	(	PUNCT
gp-215	65	5	car	car	NOUN
gp-215	65	6	)	)	PUNCT
gp-215	65	7	provides	provide	VERB
gp-215	65	8	an	an	DET
gp-215	65	9	overview	overview	NOUN
gp-215	65	10	of	of	ADP
gp-215	65	11	the	the	DET
gp-215	65	12	accumulated	accumulate	VERB
gp-215	65	13	impact	impact	NOUN
gp-215	65	14	over	over	ADP
gp-215	65	15	a	a	DET
gp-215	65	16	period	period	NOUN
gp-215	65	17	of	of	ADP
gp-215	65	18	time	time	NOUN
gp-215	65	19	.	.	PUNCT
gp-215	66	1	a	a	DET
gp-215	66	2	study	study	NOUN
gp-215	66	3	by	by	ADP
gp-215	66	4	brown	brown	PROPN
gp-215	66	5	&	&	CCONJ
gp-215	66	6	warner	warner	PROPN
gp-215	66	7	(	(	PUNCT
gp-215	66	8	1985	1985	NUM
gp-215	66	9	)	)	PUNCT
gp-215	66	10	showed	show	VERB
gp-215	66	11	that	that	DET
gp-215	66	12	car	car	NOUN
gp-215	66	13	is	be	AUX
gp-215	66	14	often	often	ADV
gp-215	66	15	more	more	ADV
gp-215	66	16	stable	stable	ADJ
gp-215	66	17	as	as	ADP
gp-215	66	18	a	a	DET
gp-215	66	19	measure	measure	NOUN
gp-215	66	20	of	of	ADP
gp-215	66	21	total	total	ADJ
gp-215	66	22	impact	impact	NOUN
gp-215	66	23	than	than	ADP
gp-215	66	24	daily	daily	PROPN
gp-215	66	25	ar	ar	PROPN
gp-215	66	26	.	.	PROPN
gp-215	66	27	cumulative	cumulative	ADJ
gp-215	66	28	abnormal	abnormal	ADJ
gp-215	66	29	return	return	NOUN
gp-215	66	30	(	(	PUNCT
gp-215	66	31	car	car	NOUN
gp-215	66	32	)	)	PUNCT
gp-215	66	33	estimated	estimate	VERB
gp-215	66	34	with	with	ADP
gp-215	66	35	the	the	DET
gp-215	66	36	following	follow	VERB
gp-215	66	37	formula	formula	NOUN
gp-215	66	38	:	:	PUNCT
gp-215	66	39	𝐶𝐴𝑅𝑖	𝐶𝐴𝑅𝑖	PROPN
gp-215	66	40	=	=	X
gp-215	66	41	∑	∑	PUNCT
gp-215	66	42	𝐴𝑅𝑖,𝑡	𝐴𝑅𝑖,𝑡	PROPN
gp-215	66	43	where	where	SCONJ
gp-215	66	44	ari	ari	PROPN
gp-215	66	45	,	,	PUNCT
gp-215	66	46	t	t	PROPN
gp-215	66	47	is	be	AUX
gp-215	66	48	the	the	DET
gp-215	66	49	abnormal	abnormal	ADJ
gp-215	66	50	return	return	NOUN
gp-215	66	51	stock	stock	NOUN
gp-215	66	52	i	i	PRON
gp-215	66	53	during	during	ADP
gp-215	66	54	period	period	NOUN
gp-215	66	55	t.	t.	NOUN
gp-215	66	56	to	to	PART
gp-215	66	57	capture	capture	VERB
gp-215	66	58	changes	change	NOUN
gp-215	66	59	in	in	ADP
gp-215	66	60	trading	trading	NOUN
gp-215	66	61	behavior	behavior	NOUN
gp-215	66	62	and	and	CCONJ
gp-215	66	63	liquidity	liquidity	NOUN
gp-215	66	64	,	,	PUNCT
gp-215	66	65	three	three	NUM
gp-215	66	66	main	main	ADJ
gp-215	66	67	metrics	metric	NOUN
gp-215	66	68	are	be	AUX
gp-215	66	69	used	use	VERB
gp-215	66	70	namely	namely	ADV
gp-215	66	71	abnormal	abnormal	ADJ
gp-215	66	72	trading	trading	NOUN
gp-215	66	73	volume	volume	NOUN
gp-215	66	74	(	(	PUNCT
gp-215	66	75	atv	atv	PROPN
gp-215	66	76	)	)	PUNCT
gp-215	66	77	,	,	PUNCT
gp-215	66	78	trading	trading	NOUN
gp-215	66	79	volume	volume	NOUN
gp-215	66	80	activity	activity	NOUN
gp-215	66	81	(	(	PUNCT
gp-215	66	82	tva	tva	PROPN
gp-215	66	83	)	)	PUNCT
gp-215	66	84	,	,	PUNCT
gp-215	66	85	and	and	CCONJ
gp-215	66	86	amihud	amihud	VERB
gp-215	66	87	illiquidity	illiquidity	NOUN
gp-215	66	88	ratio	ratio	NOUN
gp-215	66	89	(	(	PUNCT
gp-215	66	90	illiq	illiq	ADJ
gp-215	66	91	)	)	PUNCT
gp-215	66	92	.	.	PUNCT
gp-215	67	1	abnormal	abnormal	ADJ
gp-215	67	2	trading	trading	NOUN
gp-215	67	3	volume	volume	NOUN
gp-215	67	4	(	(	PUNCT
gp-215	67	5	av	av	NOUN
gp-215	67	6	)	)	PUNCT
gp-215	67	7	is	be	AUX
gp-215	67	8	used	use	VERB
gp-215	67	9	to	to	PART
gp-215	67	10	measure	measure	VERB
gp-215	67	11	how	how	SCONJ
gp-215	67	12	much	much	ADJ
gp-215	67	13	attention	attention	NOUN
gp-215	67	14	or	or	CCONJ
gp-215	67	15	reaction	reaction	NOUN
gp-215	67	16	investors	investor	NOUN
gp-215	67	17	give	give	VERB
gp-215	67	18	to	to	ADP
gp-215	67	19	new	new	ADJ
gp-215	67	20	information	information	NOUN
gp-215	67	21	.	.	PUNCT
gp-215	68	1	𝐴𝑉𝑖,𝑡	𝐴𝑉𝑖,𝑡	NOUN
gp-215	68	2	=	=	PUNCT
gp-215	68	3	𝑉𝑖,𝑡	𝑉𝑖,𝑡	ADJ
gp-215	68	4	−	−	ADP
gp-215	68	5	�	�	NOUN
gp-215	68	6	̅	̅	NOUN
gp-215	68	7	�	�	NOUN
gp-215	68	8	𝑖	𝑖	SYM
gp-215	68	9	�	�	NOUN
gp-215	68	10	̅	̅	NOUN
gp-215	68	11	�	�	NOUN
gp-215	68	12	𝑖	𝑖	NOUN
gp-215	68	13	where	where	SCONJ
gp-215	68	14	𝑉𝑖,𝑡	𝑉𝑖,𝑡	PROPN
gp-215	68	15	is	be	AUX
gp-215	68	16	actual	actual	ADJ
gp-215	68	17	volume	volume	NOUN
gp-215	68	18	stock	stock	NOUN
gp-215	68	19	i	i	PRON
gp-215	68	20	during	during	ADP
gp-215	68	21	period	period	NOUN
gp-215	68	22	t	t	PROPN
gp-215	68	23	and	and	CCONJ
gp-215	68	24	�	�	PROPN
gp-215	68	25	̅	̅	NOUN
gp-215	68	26	�	�	NOUN
gp-215	68	27	𝑖	𝑖	NOUN
gp-215	68	28	is	be	AUX
gp-215	68	29	average	average	ADJ
gp-215	68	30	volume	volume	NOUN
gp-215	68	31	stock	stock	NOUN
gp-215	68	32	i	i	PRON
gp-215	68	33	in	in	ADP
gp-215	68	34	the	the	DET
gp-215	68	35	estimation	estimation	NOUN
gp-215	68	36	period	period	NOUN
gp-215	68	37	.	.	PUNCT
gp-215	69	1	trading	trading	NOUN
gp-215	69	2	volume	volume	NOUN
gp-215	69	3	activity	activity	NOUN
gp-215	69	4	(	(	PUNCT
gp-215	69	5	tva	tva	PROPN
gp-215	69	6	)	)	PUNCT
gp-215	69	7	is	be	AUX
gp-215	69	8	used	use	VERB
gp-215	69	9	to	to	PART
gp-215	69	10	measure	measure	VERB
gp-215	69	11	the	the	DET
gp-215	69	12	intensity	intensity	NOUN
gp-215	69	13	of	of	ADP
gp-215	69	14	trading	trading	NOUN
gp-215	69	15	activity	activity	NOUN
gp-215	69	16	of	of	ADP
gp-215	69	17	a	a	DET
gp-215	69	18	stock	stock	NOUN
gp-215	69	19	compared	compare	VERB
gp-215	69	20	to	to	ADP
gp-215	69	21	the	the	DET
gp-215	69	22	total	total	ADJ
gp-215	69	23	shares	share	NOUN
gp-215	69	24	outstanding	outstanding	ADJ
gp-215	69	25	.	.	PUNCT
gp-215	70	1	this	this	DET
gp-215	70	2	ratio	ratio	NOUN
gp-215	70	3	reflects	reflect	VERB
gp-215	70	4	the	the	DET
gp-215	70	5	interest	interest	NOUN
gp-215	70	6	or	or	CCONJ
gp-215	70	7	attention	attention	NOUN
gp-215	70	8	of	of	ADP
gp-215	70	9	investors	investor	NOUN
gp-215	70	10	towards	towards	ADP
gp-215	70	11	a	a	DET
gp-215	70	12	particular	particular	ADJ
gp-215	70	13	stock	stock	NOUN
gp-215	70	14	during	during	ADP
gp-215	70	15	a	a	DET
gp-215	70	16	certain	certain	ADJ
gp-215	70	17	period	period	NOUN
gp-215	70	18	.	.	PUNCT
gp-215	71	1	the	the	PRON
gp-215	71	2	higher	high	ADJ
gp-215	71	3	the	the	DET
gp-215	71	4	tva	tva	PROPN
gp-215	71	5	,	,	PUNCT
gp-215	71	6	the	the	PRON
gp-215	71	7	more	more	ADV
gp-215	71	8	actively	actively	ADV
gp-215	71	9	the	the	DET
gp-215	71	10	stock	stock	NOUN
gp-215	71	11	is	be	AUX
gp-215	71	12	traded	trade	VERB
gp-215	71	13	(	(	PUNCT
gp-215	71	14	chordia	chordia	NOUN
gp-215	71	15	et	et	NOUN
gp-215	71	16	al	al	PROPN
gp-215	71	17	.	.	PROPN
gp-215	71	18	,	,	PUNCT
gp-215	71	19	2005	2005	NUM
gp-215	71	20	)	)	PUNCT
gp-215	71	21	.	.	PUNCT
gp-215	72	1	𝑇𝑉	𝑇𝑉	PROPN
gp-215	72	2	𝐴𝑖,𝑡	𝐴𝑖,𝑡	NOUN
gp-215	72	3	=	=	SYM
gp-215	72	4	𝑉𝑜𝑙𝑢𝑚𝑒𝑖,𝑡	𝑉𝑜𝑙𝑢𝑚𝑒𝑖,𝑡	X
gp-215	72	5	𝑆ℎ𝑎𝑟𝑒	𝑆ℎ𝑎𝑟𝑒	PROPN
gp-215	72	6	𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔𝑖,𝑡	𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔𝑖,𝑡	PUNCT
gp-215	72	7	to	to	PART
gp-215	72	8	measure	measure	VERB
gp-215	72	9	the	the	DET
gp-215	72	10	impact	impact	NOUN
gp-215	72	11	of	of	ADP
gp-215	72	12	relative	relative	ADJ
gp-215	72	13	price	price	NOUN
gp-215	72	14	changes	change	NOUN
gp-215	72	15	on	on	ADP
gp-215	72	16	trading	trading	NOUN
gp-215	72	17	volume	volume	NOUN
gp-215	72	18	,	,	PUNCT
gp-215	72	19	the	the	DET
gp-215	72	20	amihud	amihud	PROPN
gp-215	72	21	illiquidity	illiquidity	NOUN
gp-215	72	22	ratio	ratio	NOUN
gp-215	72	23	(	(	PUNCT
gp-215	72	24	illiq	illiq	ADV
gp-215	72	25	)	)	PUNCT
gp-215	72	26	is	be	AUX
gp-215	72	27	used	use	VERB
gp-215	72	28	.	.	PUNCT
gp-215	73	1	the	the	PRON
gp-215	73	2	higher	high	ADJ
gp-215	73	3	the	the	DET
gp-215	73	4	illiq	illiq	ADJ
gp-215	73	5	value	value	NOUN
gp-215	73	6	,	,	PUNCT
gp-215	73	7	the	the	DET
gp-215	73	8	less	less	ADV
gp-215	73	9	liquid	liquid	ADJ
gp-215	73	10	the	the	DET
gp-215	73	11	stock	stock	NOUN
gp-215	73	12	is	be	AUX
gp-215	73	13	(	(	PUNCT
gp-215	73	14	amihud	amihud	PROPN
gp-215	73	15	,	,	PUNCT
gp-215	73	16	2002	2002	NUM
gp-215	73	17	)	)	PUNCT
gp-215	73	18	.	.	PUNCT
gp-215	74	1	reni	reni	PROPN
gp-215	74	2	lestari	lestari	PROPN
gp-215	74	3	,	,	PUNCT
gp-215	74	4	lindsay	lindsay	PROPN
gp-215	74	5	carnelian	carnelian	PROPN
gp-215	74	6	emily	emily	PROPN
gp-215	74	7	393	393	NUM
gp-215	74	8	𝐼𝐿𝐿𝐼𝑄𝑖,𝑡	𝐼𝐿𝐿𝐼𝑄𝑖,𝑡	NOUN
gp-215	74	9	=	=	SYM
gp-215	74	10	|𝑅𝑖,𝑡|	|𝑅𝑖,𝑡|	PROPN
gp-215	74	11	𝑉𝑜𝑙𝑢𝑚𝑒𝑖,𝑡/𝑃𝑟𝑖𝑐𝑒𝑖,𝑡	𝑉𝑜𝑙𝑢𝑚𝑒𝑖,𝑡/𝑃𝑟𝑖𝑐𝑒𝑖,𝑡	VERB
gp-215	74	12	where	where	SCONJ
gp-215	74	13	ri	ri	PROPN
gp-215	74	14	,	,	PUNCT
gp-215	74	15	t	t	PROPN
gp-215	74	16	is	be	AUX
gp-215	74	17	absolut	absolut	PROPN
gp-215	74	18	value	value	NOUN
gp-215	74	19	of	of	ADP
gp-215	74	20	daily	daily	ADJ
gp-215	74	21	return	return	NOUN
gp-215	74	22	of	of	ADP
gp-215	74	23	stock	stock	NOUN
gp-215	74	24	i	i	PRON
gp-215	74	25	during	during	ADP
gp-215	74	26	period	period	NOUN
gp-215	74	27	t.	t.	NOUN
gp-215	74	28	the	the	DET
gp-215	74	29	purpose	purpose	NOUN
gp-215	74	30	of	of	ADP
gp-215	74	31	using	use	VERB
gp-215	74	32	absolute	absolute	ADJ
gp-215	74	33	value	value	NOUN
gp-215	74	34	is	be	AUX
gp-215	74	35	to	to	PART
gp-215	74	36	capture	capture	VERB
gp-215	74	37	the	the	DET
gp-215	74	38	intensity	intensity	NOUN
gp-215	74	39	of	of	ADP
gp-215	74	40	price	price	NOUN
gp-215	74	41	changes	change	NOUN
gp-215	74	42	,	,	PUNCT
gp-215	74	43	not	not	PART
gp-215	74	44	the	the	DET
gp-215	74	45	direction	direction	NOUN
gp-215	74	46	of	of	ADP
gp-215	74	47	the	the	DET
gp-215	74	48	changes	change	NOUN
gp-215	74	49	.	.	PUNCT
gp-215	75	1	volumei	volumei	PROPN
gp-215	75	2	,	,	PUNCT
gp-215	75	3	t	t	PROPN
gp-215	75	4	is	be	AUX
gp-215	75	5	trading	trading	NOUN
gp-215	75	6	value	value	NOUN
gp-215	75	7	of	of	ADP
gp-215	75	8	stock	stock	NOUN
gp-215	75	9	i	i	PRON
gp-215	75	10	during	during	ADP
gp-215	75	11	period	period	NOUN
gp-215	75	12	t.	t.	NOUN
gp-215	76	1	the	the	DET
gp-215	76	2	collected	collect	VERB
gp-215	76	3	data	datum	NOUN
gp-215	76	4	will	will	AUX
gp-215	76	5	be	be	AUX
gp-215	76	6	analyzed	analyze	VERB
gp-215	76	7	in	in	ADP
gp-215	76	8	stages	stage	NOUN
gp-215	76	9	through	through	ADP
gp-215	76	10	descriptive	descriptive	ADJ
gp-215	76	11	statistics	statistic	NOUN
gp-215	76	12	and	and	CCONJ
gp-215	76	13	then	then	ADV
gp-215	76	14	statistical	statistical	ADJ
gp-215	76	15	tests	test	NOUN
gp-215	76	16	will	will	AUX
gp-215	76	17	be	be	AUX
gp-215	76	18	carried	carry	VERB
gp-215	76	19	out	out	ADP
gp-215	76	20	through	through	ADP
gp-215	76	21	a	a	DET
gp-215	76	22	normal	normal	ADJ
gp-215	76	23	distribution	distribution	NOUN
gp-215	76	24	test	test	NOUN
gp-215	76	25	using	use	VERB
gp-215	76	26	the	the	DET
gp-215	76	27	kolmogorov	kolmogorov	ADJ
gp-215	76	28	-	-	PUNCT
gp-215	76	29	smirnov	smirnov	ADJ
gp-215	76	30	test	test	NOUN
gp-215	76	31	.	.	PUNCT
gp-215	77	1	furthermore	furthermore	ADV
gp-215	77	2	,	,	PUNCT
gp-215	77	3	if	if	SCONJ
gp-215	77	4	the	the	DET
gp-215	77	5	data	data	NOUN
gp-215	77	6	is	be	AUX
gp-215	77	7	normally	normally	ADV
gp-215	77	8	distributed	distribute	VERB
gp-215	77	9	,	,	PUNCT
gp-215	77	10	variables	variable	NOUN
gp-215	77	11	of	of	ADP
gp-215	77	12	this	this	DET
gp-215	77	13	research	research	NOUN
gp-215	77	14	will	will	AUX
gp-215	77	15	be	be	AUX
gp-215	77	16	tested	test	VERB
gp-215	77	17	by	by	ADP
gp-215	77	18	using	use	VERB
gp-215	77	19	one	one	NUM
gp-215	77	20	sample	sample	NOUN
gp-215	77	21	t	t	NOUN
gp-215	77	22	-	-	PUNCT
gp-215	77	23	test	test	NOUN
gp-215	77	24	and	and	CCONJ
gp-215	77	25	paired	pair	VERB
gp-215	77	26	sample	sample	NOUN
gp-215	77	27	t	t	PROPN
gp-215	77	28	-	-	PUNCT
gp-215	77	29	test	test	NOUN
gp-215	77	30	analysis	analysis	NOUN
gp-215	77	31	.	.	PUNCT
gp-215	78	1	one	one	NUM
gp-215	78	2	sample	sample	NOUN
gp-215	78	3	t	t	NOUN
gp-215	78	4	-	-	PUNCT
gp-215	78	5	test	test	NOUN
gp-215	78	6	is	be	AUX
gp-215	78	7	conducted	conduct	VERB
gp-215	78	8	to	to	PART
gp-215	78	9	determine	determine	VERB
gp-215	78	10	whether	whether	SCONJ
gp-215	78	11	a	a	DET
gp-215	78	12	certain	certain	ADJ
gp-215	78	13	variable	variable	NOUN
gp-215	78	14	deviates	deviate	VERB
gp-215	78	15	significantly	significantly	ADV
gp-215	78	16	from	from	ADP
gp-215	78	17	its	its	PRON
gp-215	78	18	normal	normal	ADJ
gp-215	78	19	level	level	NOUN
gp-215	78	20	,	,	PUNCT
gp-215	78	21	represented	represent	VERB
gp-215	78	22	by	by	ADP
gp-215	78	23	zero	zero	NUM
gp-215	78	24	.	.	PUNCT
gp-215	79	1	while	while	SCONJ
gp-215	79	2	paired	pair	VERB
gp-215	79	3	sample	sample	NOUN
gp-215	79	4	t	t	PROPN
gp-215	79	5	-	-	PUNCT
gp-215	79	6	test	test	NOUN
gp-215	79	7	conducted	conduct	VERB
gp-215	79	8	to	to	PART
gp-215	79	9	compares	compare	VERB
gp-215	79	10	the	the	DET
gp-215	79	11	values	value	NOUN
gp-215	79	12	of	of	ADP
gp-215	79	13	a	a	DET
gp-215	79	14	variable	variable	NOUN
gp-215	79	15	before	before	ADV
gp-215	79	16	and	and	CCONJ
gp-215	79	17	after	after	ADP
gp-215	79	18	the	the	DET
gp-215	79	19	event	event	NOUN
gp-215	79	20	.	.	PUNCT
gp-215	80	1	however	however	ADV
gp-215	80	2	,	,	PUNCT
gp-215	80	3	if	if	SCONJ
gp-215	80	4	the	the	DET
gp-215	80	5	collected	collect	VERB
gp-215	80	6	data	data	NOUN
gp-215	80	7	is	be	AUX
gp-215	80	8	not	not	PART
gp-215	80	9	normally	normally	ADV
gp-215	80	10	distributed	distribute	VERB
gp-215	80	11	,	,	PUNCT
gp-215	80	12	then	then	ADV
gp-215	80	13	the	the	DET
gp-215	80	14	data	data	NOUN
gp-215	80	15	is	be	AUX
gp-215	80	16	processed	process	VERB
gp-215	80	17	using	use	VERB
gp-215	80	18	non	non	ADJ
gp-215	80	19	-	-	ADJ
gp-215	80	20	parametric	parametric	ADJ
gp-215	80	21	test	test	NOUN
gp-215	80	22	called	call	VERB
gp-215	80	23	the	the	DET
gp-215	80	24	wilcoxon	wilcoxon	NOUN
gp-215	80	25	signed	sign	VERB
gp-215	80	26	rank	rank	NOUN
gp-215	80	27	analysis	analysis	NOUN
gp-215	80	28	test	test	NOUN
gp-215	80	29	model	model	NOUN
gp-215	80	30	in	in	ADP
gp-215	80	31	the	the	DET
gp-215	80	32	robustness	robustness	NOUN
gp-215	80	33	test	test	NOUN
gp-215	80	34	section	section	NOUN
gp-215	80	35	.	.	PUNCT
gp-215	81	1	this	this	DET
gp-215	81	2	study	study	NOUN
gp-215	81	3	employs	employ	VERB
gp-215	81	4	spss	spss	PROPN
gp-215	81	5	26	26	NUM
gp-215	81	6	and	and	CCONJ
gp-215	81	7	ms	ms	PROPN
gp-215	81	8	.	.	PROPN
gp-215	81	9	excel	excel	VERB
gp-215	81	10	as	as	ADP
gp-215	81	11	analysis	analysis	NOUN
gp-215	81	12	tools	tool	NOUN
gp-215	81	13	.	.	PUNCT
gp-215	82	1	result	result	NOUN
gp-215	82	2	and	and	CCONJ
gp-215	82	3	discussion	discussion	NOUN
gp-215	82	4	to	to	PART
gp-215	82	5	better	well	ADV
gp-215	82	6	illustrate	illustrate	VERB
gp-215	82	7	the	the	DET
gp-215	82	8	characteristics	characteristic	NOUN
gp-215	82	9	of	of	ADP
gp-215	82	10	the	the	DET
gp-215	82	11	data	datum	NOUN
gp-215	82	12	in	in	ADP
gp-215	82	13	the	the	DET
gp-215	82	14	event	event	NOUN
gp-215	82	15	window	window	NOUN
gp-215	82	16	(	(	PUNCT
gp-215	82	17	t-5	t-5	VERB
gp-215	82	18	to	to	ADP
gp-215	82	19	t+5	t+5	NUM
gp-215	82	20	)	)	PUNCT
gp-215	82	21	,	,	PUNCT
gp-215	82	22	table	table	NOUN
gp-215	82	23	1	1	NUM
gp-215	82	24	presents	present	VERB
gp-215	82	25	descriptive	descriptive	ADJ
gp-215	82	26	statistics	statistic	NOUN
gp-215	82	27	for	for	ADP
gp-215	82	28	the	the	DET
gp-215	82	29	principal	principal	ADJ
gp-215	82	30	variables	variable	NOUN
gp-215	82	31	examined	examine	VERB
gp-215	82	32	in	in	ADP
gp-215	82	33	this	this	DET
gp-215	82	34	study	study	NOUN
gp-215	82	35	:	:	PUNCT
gp-215	82	36	abnormal	abnormal	ADJ
gp-215	82	37	return	return	NOUN
gp-215	82	38	(	(	PUNCT
gp-215	82	39	ar	ar	NOUN
gp-215	82	40	)	)	PUNCT
gp-215	82	41	,	,	PUNCT
gp-215	82	42	cumulative	cumulative	ADJ
gp-215	82	43	abnormal	abnormal	ADJ
gp-215	82	44	return	return	NOUN
gp-215	82	45	(	(	PUNCT
gp-215	82	46	car	car	NOUN
gp-215	82	47	)	)	PUNCT
gp-215	82	48	,	,	PUNCT
gp-215	82	49	abnormal	abnormal	ADJ
gp-215	82	50	volume	volume	NOUN
gp-215	82	51	(	(	PUNCT
gp-215	82	52	av	av	NOUN
gp-215	82	53	)	)	PUNCT
gp-215	82	54	,	,	PUNCT
gp-215	82	55	trading	trading	NOUN
gp-215	82	56	volume	volume	NOUN
gp-215	82	57	activity	activity	NOUN
gp-215	82	58	(	(	PUNCT
gp-215	82	59	tva	tva	PROPN
gp-215	82	60	)	)	PUNCT
gp-215	82	61	,	,	PUNCT
gp-215	82	62	and	and	CCONJ
gp-215	82	63	amihud	amihud	VERB
gp-215	82	64	illiquidity	illiquidity	NOUN
gp-215	82	65	ratio	ratio	NOUN
gp-215	82	66	(	(	PUNCT
gp-215	82	67	illiq	illiq	ADV
gp-215	82	68	)	)	PUNCT
gp-215	82	69	.	.	PUNCT
gp-215	83	1	these	these	DET
gp-215	83	2	indicators	indicator	NOUN
gp-215	83	3	capture	capture	VERB
gp-215	83	4	both	both	DET
gp-215	83	5	price	price	NOUN
gp-215	83	6	precedence	precedence	NOUN
gp-215	83	7	and	and	CCONJ
gp-215	83	8	market	market	NOUN
gp-215	83	9	microstructure	microstructure	NOUN
gp-215	83	10	possibilities	possibility	NOUN
gp-215	83	11	around	around	ADP
gp-215	83	12	danantara	danantara	NOUN
gp-215	83	13	's	's	PART
gp-215	83	14	announcement	announcement	NOUN
gp-215	83	15	.	.	PUNCT
gp-215	84	1	table	table	NOUN
gp-215	84	2	1	1	NUM
gp-215	84	3	.	.	PUNCT
gp-215	85	1	statistic	statistic	ADJ
gp-215	85	2	descriptive	descriptive	ADJ
gp-215	85	3	result	result	NOUN
gp-215	85	4	variabel	variabel	NOUN
gp-215	85	5	mean	mean	NOUN
gp-215	85	6	median	median	PROPN
gp-215	85	7	std	std	PROPN
gp-215	85	8	.	.	PUNCT
gp-215	85	9	dev	dev	PROPN
gp-215	85	10	min	min	PROPN
gp-215	85	11	max	max	PROPN
gp-215	85	12	ar	ar	PROPN
gp-215	85	13	-0.00196	-0.00196	PROPN
gp-215	85	14	-0.00062	-0.00062	PROPN
gp-215	86	1	0.02375	0.02375	NUM
gp-215	86	2	-0.08623	-0.08623	ADJ
gp-215	86	3	0.05205	0.05205	NUM
gp-215	86	4	car	car	NOUN
gp-215	86	5	-0.01965	-0.01965	NOUN
gp-215	86	6	-0.01567	-0.01567	VERB
gp-215	86	7	0.04369	0.04369	NUM
gp-215	86	8	-0.09952	-0.09952	NOUN
gp-215	86	9	0.03870	0.03870	NUM
gp-215	86	10	av	av	PROPN
gp-215	86	11	0.06709	0.06709	NUM
gp-215	86	12	-0.11324	-0.11324	NOUN
gp-215	86	13	0.78045	0.78045	NUM
gp-215	86	14	-0.85950	-0.85950	NOUN
gp-215	86	15	3.08363	3.08363	NUM
gp-215	86	16	tva	tva	NOUN
gp-215	86	17	0.16154	0.16154	NUM
gp-215	86	18	0.14102	0.14102	NUM
gp-215	86	19	0.12835	0.12835	NUM
gp-215	86	20	0.00755	0.00755	NUM
gp-215	86	21	0.66401	0.66401	NUM
gp-215	86	22	illiq	illiq	ADV
gp-215	86	23	3.59756	3.59756	NUM
gp-215	86	24	2.84637	2.84637	NUM
gp-215	86	25	2.58465	2.58465	NUM
gp-215	86	26	1.11747	1.11747	NUM
gp-215	86	27	9.82390	9.82390	NUM
gp-215	86	28	table	table	NOUN
gp-215	86	29	1	1	NUM
gp-215	86	30	shows	show	VERB
gp-215	86	31	the	the	DET
gp-215	86	32	behavior	behavior	NOUN
gp-215	86	33	of	of	ADP
gp-215	86	34	some	some	DET
gp-215	86	35	important	important	ADJ
gp-215	86	36	variables	variable	NOUN
gp-215	86	37	through	through	ADP
gp-215	86	38	the	the	DET
gp-215	86	39	event	event	NOUN
gp-215	86	40	window	window	NOUN
gp-215	86	41	(	(	PUNCT
gp-215	86	42	t-5	t-5	VERB
gp-215	86	43	to	to	ADP
gp-215	86	44	t	t	NOUN
gp-215	86	45	+	+	CCONJ
gp-215	86	46	5	5	NUM
gp-215	86	47	)	)	PUNCT
gp-215	86	48	.	.	PUNCT
gp-215	87	1	the	the	DET
gp-215	87	2	near	near	ADV
gp-215	87	3	-	-	PUNCT
gp-215	87	4	zero	zero	NUM
gp-215	87	5	mean	mean	NOUN
gp-215	87	6	abnormal	abnormal	ADJ
gp-215	87	7	return	return	NOUN
gp-215	87	8	(	(	PUNCT
gp-215	87	9	ar	ar	NOUN
gp-215	87	10	)	)	PUNCT
gp-215	87	11	(	(	PUNCT
gp-215	87	12	−0.00196	−0.00196	NUM
gp-215	87	13	)	)	PUNCT
gp-215	87	14	and	and	CCONJ
gp-215	87	15	cumulative	cumulative	ADJ
gp-215	87	16	abnormal	abnormal	ADJ
gp-215	87	17	return	return	NOUN
gp-215	87	18	(	(	PUNCT
gp-215	87	19	car	car	NOUN
gp-215	87	20	)	)	PUNCT
gp-215	87	21	(	(	PUNCT
gp-215	87	22	−0.01965	−0.01965	NOUN
gp-215	87	23	)	)	PUNCT
gp-215	87	24	show	show	VERB
gp-215	87	25	little	little	ADJ
gp-215	87	26	in	in	ADP
gp-215	87	27	the	the	DET
gp-215	87	28	way	way	NOUN
gp-215	87	29	of	of	ADP
gp-215	87	30	price	price	NOUN
gp-215	87	31	-	-	PUNCT
gp-215	87	32	based	base	VERB
gp-215	87	33	reactions	reaction	NOUN
gp-215	87	34	.	.	PUNCT
gp-215	88	1	this	this	DET
gp-215	88	2	finding	finding	NOUN
gp-215	88	3	is	be	AUX
gp-215	88	4	consistent	consistent	ADJ
gp-215	88	5	with	with	ADP
gp-215	88	6	some	some	DET
gp-215	88	7	studies	study	NOUN
gp-215	88	8	which	which	PRON
gp-215	88	9	showed	show	VERB
gp-215	88	10	that	that	SCONJ
gp-215	88	11	announcements	announcement	NOUN
gp-215	88	12	relating	relate	VERB
gp-215	88	13	to	to	ADP
gp-215	88	14	sovereign	sovereign	ADJ
gp-215	88	15	wealth	wealth	NOUN
gp-215	88	16	funds	fund	NOUN
gp-215	88	17	show	show	VERB
gp-215	88	18	no	no	DET
gp-215	88	19	effect	effect	NOUN
gp-215	88	20	on	on	ADP
gp-215	88	21	valuations	valuation	NOUN
gp-215	88	22	in	in	ADP
gp-215	88	23	the	the	DET
gp-215	88	24	short	short	ADJ
gp-215	88	25	term	term	NOUN
gp-215	88	26	,	,	PUNCT
gp-215	88	27	especially	especially	ADV
gp-215	88	28	when	when	SCONJ
gp-215	88	29	there	there	PRON
gp-215	88	30	is	be	VERB
gp-215	88	31	no	no	DET
gp-215	88	32	direct	direct	ADJ
gp-215	88	33	financial	financial	ADJ
gp-215	88	34	impact	impact	NOUN
gp-215	88	35	of	of	ADP
gp-215	88	36	the	the	DET
gp-215	88	37	announcement	announcement	NOUN
gp-215	88	38	(	(	PUNCT
gp-215	88	39	bartram	bartram	PROPN
gp-215	88	40	et	et	PROPN
gp-215	88	41	al	al	PROPN
gp-215	88	42	.	.	PROPN
gp-215	88	43	,	,	PUNCT
gp-215	88	44	2021	2021	NUM
gp-215	88	45	;	;	PUNCT
gp-215	88	46	fernandes	fernande	NOUN
gp-215	88	47	,	,	PUNCT
gp-215	88	48	2014	2014	NUM
gp-215	88	49	)	)	PUNCT
gp-215	88	50	.	.	PUNCT
gp-215	89	1	the	the	DET
gp-215	89	2	limited	limited	ADJ
gp-215	89	3	moves	move	NOUN
gp-215	89	4	in	in	ADP
gp-215	89	5	prices	price	NOUN
gp-215	89	6	demonstrate	demonstrate	VERB
gp-215	89	7	semi	semi	ADJ
gp-215	89	8	-	-	ADJ
gp-215	89	9	strong	strong	ADJ
gp-215	89	10	efficiency	efficiency	NOUN
gp-215	89	11	in	in	ADP
gp-215	89	12	this	this	DET
gp-215	89	13	market	market	NOUN
gp-215	89	14	(	(	PUNCT
gp-215	89	15	fama	fama	NOUN
gp-215	89	16	,	,	PUNCT
gp-215	89	17	1970	1970	NUM
gp-215	89	18	)	)	PUNCT
gp-215	89	19	,	,	PUNCT
gp-215	89	20	where	where	SCONJ
gp-215	89	21	non	non	ADJ
gp-215	89	22	-	-	ADJ
gp-215	89	23	material	material	ADJ
gp-215	89	24	information	information	NOUN
gp-215	89	25	gets	get	VERB
gp-215	89	26	rapidly	rapidly	ADV
gp-215	89	27	american	american	ADJ
gp-215	89	28	journal	journal	NOUN
gp-215	89	29	of	of	ADP
gp-215	89	30	economic	economic	ADJ
gp-215	89	31	and	and	CCONJ
gp-215	89	32	management	management	NOUN
gp-215	89	33	business	business	NOUN
gp-215	89	34	vol	vol	NOUN
gp-215	89	35	.	.	PROPN
gp-215	90	1	4	4	NUM
gp-215	90	2	no	no	NOUN
gp-215	90	3	.	.	NOUN
gp-215	90	4	5	5	NUM
gp-215	90	5	may	may	AUX
gp-215	90	6	2025	2025	NUM
gp-215	90	7	394	394	NUM
gp-215	90	8	priced	price	VERB
gp-215	90	9	in	in	ADP
gp-215	90	10	,	,	PUNCT
gp-215	90	11	and	and	CCONJ
gp-215	90	12	the	the	DET
gp-215	90	13	asymmetric	asymmetric	ADJ
gp-215	90	14	credibility	credibility	NOUN
gp-215	90	15	of	of	ADP
gp-215	90	16	policy	policy	NOUN
gp-215	90	17	signals	signal	NOUN
gp-215	90	18	in	in	ADP
gp-215	90	19	developing	develop	VERB
gp-215	90	20	markets	market	NOUN
gp-215	90	21	has	have	VERB
gp-215	90	22	investors	investor	NOUN
gp-215	90	23	sitting	sit	VERB
gp-215	90	24	tight	tight	ADV
gp-215	90	25	and	and	CCONJ
gp-215	90	26	waiting	wait	VERB
gp-215	90	27	to	to	PART
gp-215	90	28	see	see	VERB
gp-215	90	29	proof	proof	NOUN
gp-215	90	30	of	of	ADP
gp-215	90	31	institutional	institutional	ADJ
gp-215	90	32	follow	follow	VERB
gp-215	90	33	through	through	ADP
gp-215	90	34	(	(	PUNCT
gp-215	90	35	morck	morck	PROPN
gp-215	90	36	et	et	PROPN
gp-215	90	37	al	al	PROPN
gp-215	90	38	.	.	PROPN
gp-215	90	39	,	,	PUNCT
gp-215	90	40	2000	2000	NUM
gp-215	90	41	;	;	PUNCT
gp-215	91	1	truman	truman	PROPN
gp-215	91	2	,	,	PUNCT
gp-215	91	3	2008	2008	NUM
gp-215	91	4	)	)	PUNCT
gp-215	91	5	.	.	PUNCT
gp-215	92	1	trading	trading	NOUN
gp-215	92	2	volume	volume	NOUN
gp-215	92	3	activity	activity	NOUN
gp-215	92	4	(	(	PUNCT
gp-215	92	5	tva	tva	PROPN
gp-215	92	6	)	)	PUNCT
gp-215	92	7	demonstrated	demonstrate	VERB
gp-215	92	8	significant	significant	ADJ
gp-215	92	9	jumps	jump	NOUN
gp-215	92	10	in	in	ADP
gp-215	92	11	activity	activity	NOUN
gp-215	92	12	(	(	PUNCT
gp-215	92	13	mean	mean	NOUN
gp-215	92	14	=	=	SYM
gp-215	92	15	0.1615	0.1615	NUM
gp-215	92	16	)	)	PUNCT
gp-215	92	17	whereas	whereas	SCONJ
gp-215	92	18	amihud	amihud	PROPN
gp-215	92	19	illiquidity	illiquidity	NOUN
gp-215	92	20	(	(	PUNCT
gp-215	92	21	illiq	illiq	ADV
gp-215	92	22	)	)	PUNCT
gp-215	92	23	(	(	PUNCT
gp-215	92	24	mean	mean	NOUN
gp-215	92	25	=	=	SYM
gp-215	92	26	3.60	3.60	NUM
gp-215	92	27	)	)	PUNCT
gp-215	92	28	suggested	suggest	VERB
gp-215	92	29	a	a	DET
gp-215	92	30	temporary	temporary	ADJ
gp-215	92	31	deterioration	deterioration	NOUN
gp-215	92	32	to	to	ADP
gp-215	92	33	liquidity	liquidity	NOUN
gp-215	92	34	.	.	PUNCT
gp-215	93	1	these	these	DET
gp-215	93	2	action	action	NOUN
gp-215	93	3	points	point	NOUN
gp-215	93	4	reflect	reflect	VERB
gp-215	93	5	emerging	emerge	VERB
gp-215	93	6	market	market	NOUN
gp-215	93	7	analysis	analysis	NOUN
gp-215	93	8	which	which	PRON
gp-215	93	9	have	have	AUX
gp-215	93	10	found	find	VERB
gp-215	93	11	that	that	SCONJ
gp-215	93	12	microstructure	microstructure	ADJ
gp-215	93	13	variables	variable	NOUN
gp-215	93	14	react	react	VERB
gp-215	93	15	more	more	ADV
gp-215	93	16	sharply	sharply	ADV
gp-215	93	17	to	to	ADP
gp-215	93	18	policy	policy	NOUN
gp-215	93	19	uncertainty	uncertainty	NOUN
gp-215	93	20	than	than	ADP
gp-215	93	21	prices	price	NOUN
gp-215	93	22	(	(	PUNCT
gp-215	93	23	amihud	amihud	PROPN
gp-215	93	24	,	,	PUNCT
gp-215	93	25	2002	2002	NUM
gp-215	93	26	;	;	PUNCT
gp-215	93	27	bekaert	bekaert	NOUN
gp-215	93	28	et	et	PROPN
gp-215	93	29	al	al	PROPN
gp-215	93	30	.	.	PROPN
gp-215	93	31	,	,	PUNCT
gp-215	93	32	2003	2003	NUM
gp-215	93	33	)	)	PUNCT
gp-215	93	34	.	.	PUNCT
gp-215	94	1	the	the	DET
gp-215	94	2	asymmetric	asymmetric	ADJ
gp-215	94	3	reactions	reaction	NOUN
gp-215	94	4	to	to	ADP
gp-215	94	5	initial	initial	ADJ
gp-215	94	6	impact	impact	NOUN
gp-215	94	7	of	of	ADP
gp-215	94	8	pricing	pricing	NOUN
gp-215	94	9	and	and	CCONJ
gp-215	94	10	trading	trading	NOUN
gp-215	94	11	raise	raise	VERB
gp-215	94	12	the	the	DET
gp-215	94	13	possibility	possibility	NOUN
gp-215	94	14	of	of	ADP
gp-215	94	15	a	a	DET
gp-215	94	16	proposed	propose	VERB
gp-215	94	17	two	two	NUM
gp-215	94	18	-	-	PUNCT
gp-215	94	19	channel	channel	NOUN
gp-215	94	20	response	response	NOUN
gp-215	94	21	to	to	ADP
gp-215	94	22	institutional	institutional	ADJ
gp-215	94	23	announcements	announcement	NOUN
gp-215	94	24	:	:	PUNCT
gp-215	94	25	while	while	SCONJ
gp-215	94	26	the	the	DET
gp-215	94	27	price	price	NOUN
gp-215	94	28	remained	remain	VERB
gp-215	94	29	stable	stable	ADJ
gp-215	94	30	,	,	PUNCT
gp-215	94	31	the	the	DET
gp-215	94	32	trading	trading	NOUN
gp-215	94	33	raised	raise	VERB
gp-215	94	34	relative	relative	ADJ
gp-215	94	35	uncertainty	uncertainty	NOUN
gp-215	94	36	levels	level	NOUN
gp-215	94	37	and	and	CCONJ
gp-215	94	38	speculative	speculative	ADJ
gp-215	94	39	positioning	positioning	NOUN
gp-215	94	40	(	(	PUNCT
gp-215	94	41	barber	barber	PROPN
gp-215	94	42	&	&	CCONJ
gp-215	94	43	odean	odean	PROPN
gp-215	94	44	,	,	PUNCT
gp-215	94	45	2008	2008	NUM
gp-215	94	46	;	;	PUNCT
gp-215	95	1	chordia	chordia	NOUN
gp-215	95	2	et	et	NOUN
gp-215	95	3	al	al	PROPN
gp-215	95	4	.	.	PROPN
gp-215	95	5	,	,	PUNCT
gp-215	95	6	2005	2005	NUM
gp-215	95	7	)	)	PUNCT
gp-215	95	8	.	.	PUNCT
gp-215	95	9	taken	take	VERB
gp-215	95	10	together	together	ADV
gp-215	95	11	,	,	PUNCT
gp-215	95	12	these	these	DET
gp-215	95	13	descriptive	descriptive	ADJ
gp-215	95	14	insights	insight	NOUN
gp-215	95	15	suggest	suggest	VERB
gp-215	95	16	the	the	DET
gp-215	95	17	market	market	NOUN
gp-215	95	18	response	response	NOUN
gp-215	95	19	was	be	AUX
gp-215	95	20	behavioral	behavioral	ADJ
gp-215	95	21	and	and	CCONJ
gp-215	95	22	trended	trend	VERB
gp-215	95	23	toward	toward	ADP
gp-215	95	24	normal	normal	ADJ
gp-215	95	25	,	,	PUNCT
gp-215	95	26	rather	rather	ADV
gp-215	95	27	than	than	ADP
gp-215	95	28	an	an	DET
gp-215	95	29	actual	actual	ADJ
gp-215	95	30	change	change	NOUN
gp-215	95	31	in	in	ADP
gp-215	95	32	asset	asset	NOUN
gp-215	95	33	valuations	valuation	NOUN
gp-215	95	34	.	.	PUNCT
gp-215	96	1	this	this	PRON
gp-215	96	2	frames	frame	VERB
gp-215	96	3	the	the	DET
gp-215	96	4	context	context	NOUN
gp-215	96	5	for	for	ADP
gp-215	96	6	the	the	DET
gp-215	96	7	inferential	inferential	ADJ
gp-215	96	8	tests	test	NOUN
gp-215	96	9	that	that	PRON
gp-215	96	10	are	be	AUX
gp-215	96	11	to	to	PART
gp-215	96	12	follow	follow	VERB
gp-215	96	13	as	as	SCONJ
gp-215	96	14	it	it	PRON
gp-215	96	15	says	say	VERB
gp-215	96	16	the	the	DET
gp-215	96	17	need	need	NOUN
gp-215	96	18	for	for	SCONJ
gp-215	96	19	price	price	NOUN
gp-215	96	20	and	and	CCONJ
gp-215	96	21	microstructure	microstructure	ADJ
gp-215	96	22	responses	response	NOUN
gp-215	96	23	to	to	PART
gp-215	96	24	be	be	AUX
gp-215	96	25	considered	consider	VERB
gp-215	96	26	in	in	ADP
gp-215	96	27	policy	policy	NOUN
gp-215	96	28	-	-	PUNCT
gp-215	96	29	initiated	initiate	VERB
gp-215	96	30	event	event	NOUN
gp-215	96	31	studies	study	NOUN
gp-215	96	32	.	.	PUNCT
gp-215	97	1	table	table	NOUN
gp-215	97	2	2	2	NUM
gp-215	97	3	.	.	PUNCT
gp-215	97	4	event	event	NOUN
gp-215	97	5	study	study	NOUN
gp-215	97	6	result	result	VERB
gp-215	97	7	–	–	PUNCT
gp-215	97	8	firm	firm	ADJ
gp-215	97	9	level	level	NOUN
gp-215	97	10	variable	variable	ADJ
gp-215	97	11	one	one	NUM
gp-215	97	12	-	-	PUNCT
gp-215	97	13	sample	sample	NOUN
gp-215	97	14	t	t	NOUN
gp-215	97	15	-	-	PUNCT
gp-215	97	16	stat	stat	NOUN
gp-215	97	17	p	p	NOUN
gp-215	97	18	-	-	PUNCT
gp-215	97	19	value	value	NOUN
gp-215	97	20	paired	pair	VERB
gp-215	97	21	t	t	NOUN
gp-215	97	22	-	-	PUNCT
gp-215	97	23	stat	stat	NOUN
gp-215	97	24	p	p	NOUN
gp-215	97	25	-	-	PUNCT
gp-215	97	26	value	value	NOUN
gp-215	97	27	ar_stocks	ar_stock	NOUN
gp-215	97	28	–	–	PUNCT
gp-215	97	29	0.7735	0.7735	NUM
gp-215	97	30	0.4571	0.4571	NUM
gp-215	97	31	–	–	PUNCT
gp-215	97	32	0.4554	0.4554	NUM
gp-215	97	33	0.6725	0.6725	NUM
gp-215	97	34	car_stocks	car_stock	NOUN
gp-215	97	35	–	–	PUNCT
gp-215	97	36	1.4915	1.4915	NUM
gp-215	97	37	0.1667	0.1667	NUM
gp-215	97	38	–	–	PUNCT
gp-215	97	39	–	–	PUNCT
gp-215	97	40	av_stocks	av_stock	VERB
gp-215	97	41	0.4781	0.4781	NUM
gp-215	97	42	0.6429	0.6429	NUM
gp-215	97	43	–	–	PUNCT
gp-215	97	44	1.1181	1.1181	NUM
gp-215	97	45	0.3261	0.3261	NUM
gp-215	97	46	tva_stocks	tva_stock	VERB
gp-215	97	47	7.5161	7.5161	NUM
gp-215	97	48	0.0000	0.0000	NUM
gp-215	97	49	*	*	PUNCT
gp-215	97	50	–	–	PUNCT
gp-215	97	51	0.9670	0.9670	NUM
gp-215	97	52	0.3883	0.3883	NUM
gp-215	97	53	illiq_stocks	illiq_stock	NOUN
gp-215	97	54	24.6473	24.6473	NUM
gp-215	97	55	0.0001	0.0001	NUM
gp-215	97	56	*	*	NUM
gp-215	97	57	1.2231	1.2231	NUM
gp-215	97	58	0.2884	0.2884	NUM
gp-215	97	59	after	after	ADP
gp-215	97	60	conducting	conduct	VERB
gp-215	97	61	the	the	DET
gp-215	97	62	descriptive	descriptive	ADJ
gp-215	97	63	analysis	analysis	NOUN
gp-215	97	64	,	,	PUNCT
gp-215	97	65	the	the	DET
gp-215	97	66	research	research	NOUN
gp-215	97	67	implemented	implement	VERB
gp-215	97	68	several	several	ADJ
gp-215	97	69	inferential	inferential	ADJ
gp-215	97	70	tests	test	NOUN
gp-215	97	71	with	with	ADP
gp-215	97	72	one	one	NUM
gp-215	97	73	-	-	PUNCT
gp-215	97	74	sample	sample	NOUN
gp-215	97	75	t	t	NOUN
gp-215	97	76	-	-	PUNCT
gp-215	97	77	tests	test	NOUN
gp-215	97	78	and	and	CCONJ
gp-215	97	79	paired	pair	VERB
gp-215	97	80	sample	sample	NOUN
gp-215	97	81	t	t	PROPN
gp-215	97	82	-	-	PUNCT
gp-215	97	83	tests	test	NOUN
gp-215	97	84	to	to	PART
gp-215	97	85	assess	assess	VERB
gp-215	97	86	the	the	DET
gp-215	97	87	significance	significance	NOUN
gp-215	97	88	of	of	ADP
gp-215	97	89	price	price	NOUN
gp-215	97	90	-	-	PUNCT
gp-215	97	91	based	base	VERB
gp-215	97	92	and	and	CCONJ
gp-215	97	93	microstructure	microstructure	NOUN
gp-215	97	94	-	-	PUNCT
gp-215	97	95	based	base	VERB
gp-215	97	96	reactions	reaction	NOUN
gp-215	97	97	around	around	ADP
gp-215	97	98	the	the	DET
gp-215	97	99	announcement	announcement	NOUN
gp-215	97	100	of	of	ADP
gp-215	97	101	danantara	danantara	NOUN
gp-215	97	102	.	.	PUNCT
gp-215	98	1	the	the	DET
gp-215	98	2	test	test	NOUN
gp-215	98	3	results	result	NOUN
gp-215	98	4	are	be	AUX
gp-215	98	5	shown	show	VERB
gp-215	98	6	in	in	ADP
gp-215	98	7	table	table	NOUN
gp-215	98	8	2	2	NUM
gp-215	98	9	.	.	PUNCT
gp-215	98	10	price	price	NOUN
gp-215	98	11	-	-	PUNCT
gp-215	98	12	based	base	VERB
gp-215	98	13	response	response	NOUN
gp-215	98	14	:	:	PUNCT
gp-215	98	15	abnormal	abnormal	ADJ
gp-215	98	16	return	return	NOUN
gp-215	98	17	(	(	PUNCT
gp-215	98	18	ar	ar	NOUN
gp-215	98	19	)	)	PUNCT
gp-215	98	20	and	and	CCONJ
gp-215	98	21	cumulative	cumulative	ADJ
gp-215	98	22	abnormal	abnormal	ADJ
gp-215	98	23	return	return	NOUN
gp-215	98	24	(	(	PUNCT
gp-215	98	25	car	car	NOUN
gp-215	98	26	)	)	PUNCT
gp-215	98	27	for	for	ADP
gp-215	98	28	the	the	DET
gp-215	98	29	10	10	NUM
gp-215	98	30	state	state	NOUN
gp-215	98	31	-	-	PUNCT
gp-215	98	32	owned	own	VERB
gp-215	98	33	enterprises	enterprise	NOUN
gp-215	98	34	(	(	PUNCT
gp-215	98	35	soes	soe	NOUN
gp-215	98	36	)	)	PUNCT
gp-215	98	37	selected	select	VERB
gp-215	98	38	for	for	ADP
gp-215	98	39	danantara	danantara	NOUN
gp-215	98	40	,	,	PUNCT
gp-215	98	41	we	we	PRON
gp-215	98	42	tested	test	VERB
gp-215	98	43	h1	h1	PROPN
gp-215	98	44	(	(	PUNCT
gp-215	98	45	significant	significant	ADJ
gp-215	98	46	abnormal	abnormal	ADJ
gp-215	98	47	returns	return	NOUN
gp-215	98	48	)	)	PUNCT
gp-215	98	49	and	and	CCONJ
gp-215	98	50	h2	h2	NOUN
gp-215	98	51	(	(	PUNCT
gp-215	98	52	significant	significant	ADJ
gp-215	98	53	cumulative	cumulative	ADJ
gp-215	98	54	abnormal	abnormal	ADJ
gp-215	98	55	returns	return	NOUN
gp-215	98	56	)	)	PUNCT
gp-215	98	57	.	.	PUNCT
gp-215	99	1	the	the	DET
gp-215	99	2	results	result	NOUN
gp-215	99	3	showed	show	VERB
gp-215	99	4	that	that	SCONJ
gp-215	99	5	no	no	DET
gp-215	99	6	significant	significant	ADJ
gp-215	99	7	ar	ar	NOUN
gp-215	99	8	at	at	ADP
gp-215	99	9	the	the	DET
gp-215	99	10	5	5	NUM
gp-215	99	11	%	%	NOUN
gp-215	99	12	significance	significance	NOUN
gp-215	99	13	level	level	NOUN
gp-215	99	14	(	(	PUNCT
gp-215	99	15	p=0.457	p=0.457	X
gp-215	99	16	)	)	PUNCT
gp-215	99	17	during	during	ADP
gp-215	99	18	the	the	DET
gp-215	99	19	event	event	NOUN
gp-215	99	20	window	window	NOUN
gp-215	99	21	.	.	PUNCT
gp-215	100	1	no	no	DET
gp-215	100	2	significant	significant	ADJ
gp-215	100	3	car	car	NOUN
gp-215	100	4	over	over	ADP
gp-215	100	5	the	the	DET
gp-215	100	6	event	event	NOUN
gp-215	100	7	window	window	NOUN
gp-215	100	8	(	(	PUNCT
gp-215	100	9	p=0.167	p=0.167	X
gp-215	100	10	)	)	PUNCT
gp-215	100	11	indicates	indicate	VERB
gp-215	100	12	that	that	SCONJ
gp-215	100	13	no	no	DET
gp-215	100	14	cumulative	cumulative	ADJ
gp-215	100	15	revaluation	revaluation	NOUN
gp-215	100	16	effect	effect	NOUN
gp-215	100	17	.	.	PUNCT
gp-215	100	18	supported	support	VERB
gp-215	100	19	by	by	ADP
gp-215	100	20	below	below	ADP
gp-215	100	21	figure	figure	NOUN
gp-215	100	22	,	,	PUNCT
gp-215	100	23	daily	daily	PROPN
gp-215	100	24	ar	ar	NOUN
gp-215	100	25	around	around	ADP
gp-215	100	26	the	the	DET
gp-215	100	27	event	event	NOUN
gp-215	100	28	date	date	NOUN
gp-215	100	29	(	(	PUNCT
gp-215	100	30	t=0	t=0	ADJ
gp-215	100	31	)	)	PUNCT
gp-215	100	32	.	.	PUNCT
gp-215	101	1	points	point	NOUN
gp-215	101	2	cluster	cluster	NOUN
gp-215	101	3	near	near	ADP
gp-215	101	4	zero	zero	NUM
gp-215	101	5	,	,	PUNCT
gp-215	101	6	with	with	ADP
gp-215	101	7	no	no	DET
gp-215	101	8	clear	clear	ADJ
gp-215	101	9	spike	spike	NOUN
gp-215	101	10	on	on	ADP
gp-215	101	11	t=0	t=0	PROPN
gp-215	101	12	,	,	PUNCT
gp-215	101	13	and	and	CCONJ
gp-215	101	14	car	car	NOUN
gp-215	101	15	showing	show	VERB
gp-215	101	16	minor	minor	ADJ
gp-215	101	17	fluctuation	fluctuation	NOUN
gp-215	101	18	during	during	ADP
gp-215	101	19	the	the	DET
gp-215	101	20	event	event	NOUN
gp-215	101	21	window	window	NOUN
gp-215	101	22	(	(	PUNCT
gp-215	101	23	t-5	t-5	VERB
gp-215	101	24	to	to	ADP
gp-215	101	25	t+5	t+5	NUM
gp-215	101	26	)	)	PUNCT
gp-215	101	27	.	.	PUNCT
gp-215	102	1	reni	reni	PROPN
gp-215	102	2	lestari	lestari	PROPN
gp-215	102	3	,	,	PUNCT
gp-215	102	4	lindsay	lindsay	PROPN
gp-215	102	5	carnelian	carnelian	PROPN
gp-215	102	6	emily	emily	PROPN
gp-215	102	7	395	395	NUM
gp-215	102	8	figure	figure	NOUN
gp-215	102	9	2	2	NUM
gp-215	102	10	.	.	X
gp-215	102	11	abnormal	abnormal	ADJ
gp-215	102	12	return	return	NOUN
gp-215	102	13	(	(	PUNCT
gp-215	102	14	ar	ar	NOUN
gp-215	102	15	)	)	PUNCT
gp-215	102	16	and	and	CCONJ
gp-215	102	17	cumulative	cumulative	ADJ
gp-215	102	18	abnormal	abnormal	ADJ
gp-215	102	19	return	return	NOUN
gp-215	102	20	(	(	PUNCT
gp-215	102	21	car	car	NOUN
gp-215	102	22	)	)	PUNCT
gp-215	102	23	these	these	DET
gp-215	102	24	findings	finding	NOUN
gp-215	102	25	coincide	coincide	VERB
gp-215	102	26	with	with	ADP
gp-215	102	27	kotter	kotter	PROPN
gp-215	102	28	&	&	CCONJ
gp-215	102	29	lel	lel	PROPN
gp-215	102	30	’s	’s	PART
gp-215	102	31	(	(	PUNCT
gp-215	102	32	2011	2011	NUM
gp-215	102	33	)	)	PUNCT
gp-215	102	34	delineation	delineation	NOUN
gp-215	102	35	between	between	ADP
gp-215	102	36	swf	swf	NOUN
gp-215	102	37	investments	investment	NOUN
gp-215	102	38	(	(	PUNCT
gp-215	102	39	which	which	PRON
gp-215	102	40	provide	provide	VERB
gp-215	102	41	observable	observable	ADJ
gp-215	102	42	reactions	reaction	NOUN
gp-215	102	43	in	in	ADP
gp-215	102	44	price	price	NOUN
gp-215	102	45	)	)	PUNCT
gp-215	102	46	as	as	SCONJ
gp-215	102	47	compared	compare	VERB
gp-215	102	48	to	to	ADP
gp-215	102	49	swf	swf	PROPN
gp-215	102	50	announcements	announcement	NOUN
gp-215	102	51	(	(	PUNCT
gp-215	102	52	which	which	PRON
gp-215	102	53	at	at	ADP
gp-215	102	54	that	that	DET
gp-215	102	55	time	time	NOUN
gp-215	102	56	had	have	VERB
gp-215	102	57	no	no	DET
gp-215	102	58	effect	effect	NOUN
gp-215	102	59	as	as	SCONJ
gp-215	102	60	it	it	PRON
gp-215	102	61	assumed	assume	VERB
gp-215	102	62	no	no	DET
gp-215	102	63	immediate	immediate	ADJ
gp-215	102	64	financial	financial	ADJ
gp-215	102	65	materiality	materiality	NOUN
gp-215	102	66	)	)	PUNCT
gp-215	102	67	.	.	PUNCT
gp-215	103	1	on	on	ADP
gp-215	103	2	account	account	NOUN
gp-215	103	3	of	of	ADP
gp-215	103	4	the	the	DET
gp-215	103	5	relative	relative	ADJ
gp-215	103	6	pedigree	pedigree	NOUN
gp-215	103	7	of	of	ADP
gp-215	103	8	emerging	emerge	VERB
gp-215	103	9	markets	market	NOUN
gp-215	103	10	,	,	PUNCT
gp-215	103	11	investors	investor	NOUN
gp-215	103	12	will	will	AUX
gp-215	103	13	typically	typically	ADV
gp-215	103	14	dismiss	dismiss	VERB
gp-215	103	15	policy	policy	NOUN
gp-215	103	16	signals	signal	NOUN
gp-215	103	17	until	until	SCONJ
gp-215	103	18	there	there	PRON
gp-215	103	19	are	be	VERB
gp-215	103	20	concerned	concerned	ADJ
gp-215	103	21	operational	operational	ADJ
gp-215	103	22	details	detail	NOUN
gp-215	103	23	about	about	ADP
gp-215	103	24	the	the	DET
gp-215	103	25	policy	policy	NOUN
gp-215	103	26	,	,	PUNCT
gp-215	103	27	for	for	ADP
gp-215	103	28	example	example	NOUN
gp-215	103	29	when	when	SCONJ
gp-215	103	30	funds	fund	NOUN
gp-215	103	31	will	will	AUX
gp-215	103	32	be	be	AUX
gp-215	103	33	deployed	deploy	VERB
gp-215	103	34	or	or	CCONJ
gp-215	103	35	governance	governance	NOUN
gp-215	103	36	is	be	AUX
gp-215	103	37	intended	intend	VERB
gp-215	103	38	to	to	PART
gp-215	103	39	be	be	AUX
gp-215	103	40	improved	improve	VERB
gp-215	103	41	(	(	PUNCT
gp-215	103	42	bartram	bartram	PROPN
gp-215	103	43	et	et	PROPN
gp-215	103	44	al	al	PROPN
gp-215	103	45	.	.	PROPN
gp-215	103	46	,	,	PUNCT
gp-215	103	47	2021	2021	NUM
gp-215	103	48	)	)	PUNCT
gp-215	103	49	.	.	PUNCT
gp-215	104	1	the	the	DET
gp-215	104	2	insignificant	insignificant	ADJ
gp-215	104	3	price	price	NOUN
gp-215	104	4	reaction	reaction	NOUN
gp-215	104	5	can	can	AUX
gp-215	104	6	be	be	AUX
gp-215	104	7	supplemented	supplement	VERB
gp-215	104	8	through	through	ADP
gp-215	104	9	the	the	DET
gp-215	104	10	lens	lens	NOUN
gp-215	104	11	of	of	ADP
gp-215	104	12	signaling	signal	VERB
gp-215	104	13	theory	theory	NOUN
gp-215	104	14	(	(	PUNCT
gp-215	104	15	spence	spence	NOUN
gp-215	104	16	,	,	PUNCT
gp-215	104	17	1973	1973	NUM
gp-215	104	18	)	)	PUNCT
gp-215	104	19	.	.	PUNCT
gp-215	105	1	in	in	ADP
gp-215	105	2	this	this	DET
gp-215	105	3	case	case	NOUN
gp-215	105	4	,	,	PUNCT
gp-215	105	5	danantara	danantara	PROPN
gp-215	105	6	's	's	PART
gp-215	105	7	announcement	announcement	NOUN
gp-215	105	8	was	be	AUX
gp-215	105	9	a	a	DET
gp-215	105	10	"	"	PUNCT
gp-215	105	11	cheap	cheap	ADJ
gp-215	105	12	talk	talk	NOUN
gp-215	105	13	"	"	PUNCT
gp-215	105	14	or	or	CCONJ
gp-215	105	15	no	no	DET
gp-215	105	16	commitment	commitment	NOUN
gp-215	105	17	mechanism	mechanism	NOUN
gp-215	105	18	(	(	PUNCT
gp-215	105	19	for	for	ADP
gp-215	105	20	example	example	NOUN
gp-215	105	21	,	,	PUNCT
gp-215	105	22	a	a	DET
gp-215	105	23	binding	bind	VERB
gp-215	105	24	commitment	commitment	NOUN
gp-215	105	25	to	to	ADP
gp-215	105	26	fund	fund	NOUN
gp-215	105	27	or	or	CCONJ
gp-215	105	28	some	some	DET
gp-215	105	29	explicit	explicit	ADJ
gp-215	105	30	non	non	ADJ
gp-215	105	31	-	-	ADJ
gp-215	105	32	retractable	retractable	ADJ
gp-215	105	33	call	call	NOUN
gp-215	105	34	)	)	PUNCT
gp-215	105	35	.	.	PUNCT
gp-215	106	1	without	without	ADP
gp-215	106	2	the	the	DET
gp-215	106	3	credible	credible	ADJ
gp-215	106	4	commitment	commitment	NOUN
gp-215	106	5	mechanism	mechanism	NOUN
gp-215	106	6	(	(	PUNCT
gp-215	106	7	and	and	CCONJ
gp-215	106	8	geoffrey	geoffrey	PROPN
gp-215	106	9	's	's	PART
gp-215	106	10	third	third	ADJ
gp-215	106	11	-	-	PUNCT
gp-215	106	12	party	party	NOUN
gp-215	106	13	operational	operational	ADJ
gp-215	106	14	acknowledgement	acknowledgement	NOUN
gp-215	106	15	)	)	PUNCT
gp-215	106	16	,	,	PUNCT
gp-215	106	17	markets	market	NOUN
gp-215	106	18	did	do	AUX
gp-215	106	19	not	not	PART
gp-215	106	20	seem	seem	VERB
gp-215	106	21	to	to	PART
gp-215	106	22	reserve	reserve	VERB
gp-215	106	23	a	a	DET
gp-215	106	24	review	review	NOUN
gp-215	106	25	or	or	CCONJ
gp-215	106	26	signaling	signal	VERB
gp-215	106	27	of	of	ADP
gp-215	106	28	change	change	NOUN
gp-215	106	29	in	in	ADP
gp-215	106	30	value	value	NOUN
gp-215	106	31	.	.	PUNCT
gp-215	107	1	this	this	PRON
gp-215	107	2	is	be	AUX
gp-215	107	3	contrary	contrary	ADJ
gp-215	107	4	to	to	ADP
gp-215	107	5	the	the	DET
gp-215	107	6	norwegian	norwegian	ADJ
gp-215	107	7	government	government	NOUN
gp-215	107	8	pension	pension	NOUN
gp-215	107	9	fund	fund	NOUN
gp-215	107	10	government	government	NOUN
gp-215	107	11	pension	pension	NOUN
gp-215	107	12	fund	fund	NOUN
gp-215	107	13	global	global	ADJ
gp-215	107	14	,	,	PUNCT
gp-215	107	15	where	where	SCONJ
gp-215	107	16	testimonial	testimonial	ADJ
gp-215	107	17	operational	operational	ADJ
gp-215	107	18	frameworks	framework	NOUN
gp-215	107	19	publicly	publicly	ADV
gp-215	107	20	established	establish	VERB
gp-215	107	21	credible	credible	ADJ
gp-215	107	22	non	non	ADJ
gp-215	107	23	-	-	ADJ
gp-215	107	24	identity	identity	ADJ
gp-215	107	25	representation	representation	NOUN
gp-215	107	26	from	from	ADP
gp-215	107	27	inception	inception	NOUN
gp-215	107	28	(	(	PUNCT
gp-215	107	29	clark	clark	PROPN
gp-215	107	30	&	&	CCONJ
gp-215	107	31	monk	monk	PROPN
gp-215	107	32	,	,	PUNCT
gp-215	107	33	2017	2017	NUM
gp-215	107	34	)	)	PUNCT
gp-215	107	35	.	.	PUNCT
gp-215	108	1	trading	trading	NOUN
gp-215	108	2	behavior	behavior	NOUN
gp-215	108	3	:	:	PUNCT
gp-215	108	4	abnormal	abnormal	ADJ
gp-215	108	5	volume	volume	NOUN
gp-215	108	6	(	(	PUNCT
gp-215	108	7	av	av	NOUN
gp-215	108	8	)	)	PUNCT
gp-215	108	9	and	and	CCONJ
gp-215	108	10	trading	trading	NOUN
gp-215	108	11	volume	volume	NOUN
gp-215	108	12	activity	activity	NOUN
gp-215	108	13	(	(	PUNCT
gp-215	108	14	tva	tva	PROPN
gp-215	108	15	)	)	PUNCT
gp-215	108	16	h3	h3	NOUN
gp-215	108	17	:	:	PUNCT
gp-215	108	18	abnormal	abnormal	ADJ
gp-215	108	19	volume	volume	NOUN
gp-215	108	20	(	(	PUNCT
gp-215	108	21	av	av	NOUN
gp-215	108	22	)	)	PUNCT
gp-215	108	23	was	be	AUX
gp-215	108	24	not	not	PART
gp-215	108	25	statistically	statistically	ADV
gp-215	108	26	significant	significant	ADJ
gp-215	108	27	at	at	ADP
gp-215	108	28	the	the	DET
gp-215	108	29	firm	firm	ADJ
gp-215	108	30	level	level	NOUN
gp-215	108	31	(	(	PUNCT
gp-215	108	32	p	p	X
gp-215	108	33	=	=	NOUN
gp-215	108	34	0.6429	0.6429	NUM
gp-215	108	35	)	)	PUNCT
gp-215	108	36	,	,	PUNCT
gp-215	108	37	meaning	mean	VERB
gp-215	108	38	that	that	SCONJ
gp-215	108	39	the	the	DET
gp-215	108	40	attention	attention	NOUN
gp-215	108	41	by	by	ADP
gp-215	108	42	the	the	DET
gp-215	108	43	investors	investor	NOUN
gp-215	108	44	did	do	AUX
gp-215	108	45	not	not	PART
gp-215	108	46	consistently	consistently	ADV
gp-215	108	47	shift	shift	VERB
gp-215	108	48	over	over	ADP
gp-215	108	49	the	the	DET
gp-215	108	50	individual	individual	ADJ
gp-215	108	51	soes	soe	NOUN
gp-215	108	52	.	.	PUNCT
gp-215	109	1	the	the	DET
gp-215	109	2	absence	absence	NOUN
gp-215	109	3	of	of	ADP
gp-215	109	4	av	av	PROPN
gp-215	109	5	significance	significance	NOUN
gp-215	109	6	at	at	ADP
gp-215	109	7	the	the	DET
gp-215	109	8	firm	firm	ADJ
gp-215	109	9	level	level	NOUN
gp-215	109	10	is	be	AUX
gp-215	109	11	consistent	consistent	ADJ
gp-215	109	12	with	with	ADP
gp-215	109	13	an	an	DET
gp-215	109	14	asymmetric	asymmetric	ADJ
gp-215	109	15	information	information	NOUN
gp-215	109	16	perspective	perspective	NOUN
gp-215	109	17	relating	relate	VERB
gp-215	109	18	to	to	ADP
gp-215	109	19	emerging	emerge	VERB
gp-215	109	20	markets	market	NOUN
gp-215	109	21	(	(	PUNCT
gp-215	109	22	morck	morck	PROPN
gp-215	109	23	et	et	PROPN
gp-215	109	24	al	al	PROPN
gp-215	109	25	.	.	PROPN
gp-215	109	26	,	,	PUNCT
gp-215	109	27	2000	2000	NUM
gp-215	109	28	)	)	PUNCT
gp-215	109	29	.	.	PUNCT
gp-215	110	1	retail	retail	ADJ
gp-215	110	2	investors	investor	NOUN
gp-215	110	3	dominate	dominate	VERB
gp-215	110	4	trade	trade	NOUN
gp-215	110	5	(	(	PUNCT
gp-215	110	6	kalev	kalev	NOUN
gp-215	110	7	et	et	PROPN
gp-215	110	8	al	al	PROPN
gp-215	110	9	.	.	PROPN
gp-215	110	10	,	,	PUNCT
gp-215	110	11	2004	2004	NUM
gp-215	110	12	)	)	PUNCT
gp-215	110	13	,	,	PUNCT
gp-215	110	14	and	and	CCONJ
gp-215	110	15	should	should	AUX
gp-215	110	16	probably	probably	ADV
gp-215	110	17	allocated	allocate	VERB
gp-215	110	18	their	their	PRON
gp-215	110	19	attention	attention	NOUN
gp-215	110	20	to	to	ADP
gp-215	110	21	selected	select	VERB
gp-215	110	22	soe	soe	PROPN
gp-215	110	23	's	's	PART
gp-215	110	24	(	(	PUNCT
gp-215	110	25	e.g.	e.g.	ADJ
gp-215	110	26	,	,	PUNCT
gp-215	110	27	pertamina	pertamina	ADJ
gp-215	110	28	,	,	PUNCT
gp-215	110	29	telkom	telkom	NOUN
gp-215	110	30	)	)	PUNCT
gp-215	110	31	who	who	PRON
gp-215	110	32	are	be	AUX
gp-215	110	33	more	more	ADV
gp-215	110	34	pronounced	pronounced	ADJ
gp-215	110	35	in	in	ADP
gp-215	110	36	the	the	DET
gp-215	110	37	market	market	NOUN
gp-215	110	38	.	.	PUNCT
gp-215	111	1	as	as	ADP
gp-215	111	2	a	a	DET
gp-215	111	3	rational	rational	ADJ
gp-215	111	4	result	result	NOUN
gp-215	111	5	,	,	PUNCT
gp-215	111	6	the	the	DET
gp-215	111	7	correlation	correlation	NOUN
gp-215	111	8	between	between	ADP
gp-215	111	9	trading	trading	NOUN
gp-215	111	10	price	price	NOUN
gp-215	111	11	and	and	CCONJ
gp-215	111	12	av	av	PROPN
gp-215	111	13	shifts	shift	NOUN
gp-215	111	14	appear	appear	VERB
gp-215	111	15	in	in	ADP
gp-215	111	16	spikes	spike	NOUN
gp-215	111	17	(	(	PUNCT
gp-215	111	18	figure	figure	NOUN
gp-215	111	19	3	3	NUM
gp-215	111	20	)	)	PUNCT
gp-215	111	21	rather	rather	ADV
gp-215	111	22	than	than	ADP
gp-215	111	23	shifts	shift	NOUN
gp-215	111	24	in	in	ADP
gp-215	111	25	an	an	DET
gp-215	111	26	orderly	orderly	ADJ
gp-215	111	27	fashion	fashion	NOUN
gp-215	111	28	.	.	PUNCT
gp-215	112	1	h4	h4	PROPN
gp-215	112	2	(	(	PUNCT
gp-215	112	3	tva	tva	PROPN
gp-215	112	4	):	):	PUNCT
gp-215	112	5	trading	trading	NOUN
gp-215	112	6	volume	volume	NOUN
gp-215	112	7	activity	activity	NOUN
gp-215	112	8	(	(	PUNCT
gp-215	112	9	tva	tva	PROPN
gp-215	112	10	)	)	PUNCT
gp-215	112	11	was	be	AUX
gp-215	112	12	significantly	significantly	ADV
gp-215	112	13	higher	high	ADJ
gp-215	112	14	during	during	ADP
gp-215	112	15	the	the	DET
gp-215	112	16	event	event	NOUN
gp-215	112	17	window	window	NOUN
gp-215	112	18	(	(	PUNCT
gp-215	112	19	p	p	X
gp-215	112	20	<	<	X
gp-215	112	21	0.0001	0.0001	NUM
gp-215	112	22	)	)	PUNCT
gp-215	112	23	,	,	PUNCT
gp-215	112	24	representing	represent	VERB
gp-215	112	25	a	a	DET
gp-215	112	26	short	short	ADJ
gp-215	112	27	-	-	PUNCT
gp-215	112	28	term	term	NOUN
gp-215	112	29	increase	increase	NOUN
gp-215	112	30	in	in	ADP
gp-215	112	31	trading	trading	NOUN
gp-215	112	32	pressure	pressure	NOUN
gp-215	112	33	when	when	SCONJ
gp-215	112	34	compared	compare	VERB
gp-215	112	35	to	to	ADP
gp-215	112	36	outstanding	outstanding	ADJ
gp-215	112	37	shares	share	NOUN
gp-215	112	38	.	.	PUNCT
gp-215	113	1	for	for	ADP
gp-215	113	2	the	the	DET
gp-215	113	3	event	event	NOUN
gp-215	113	4	window	window	NOUN
gp-215	113	5	,	,	PUNCT
gp-215	113	6	trading	trading	NOUN
gp-215	113	7	volume	volume	NOUN
gp-215	113	8	activity	activity	NOUN
gp-215	113	9	was	be	AUX
gp-215	113	10	abnormal	abnormal	ADJ
gp-215	113	11	,	,	PUNCT
gp-215	113	12	and	and	CCONJ
gp-215	113	13	returned	return	VERB
gp-215	113	14	to	to	ADP
gp-215	113	15	levels	level	NOUN
gp-215	113	16	similar	similar	ADJ
gp-215	113	17	to	to	ADP
gp-215	113	18	the	the	DET
gp-215	113	19	control	control	NOUN
gp-215	113	20	condition	condition	NOUN
gp-215	113	21	after	after	ADP
gp-215	113	22	the	the	DET
gp-215	113	23	event	event	NOUN
gp-215	113	24	(	(	PUNCT
gp-215	113	25	p	p	X
gp-215	113	26	=	=	NOUN
gp-215	113	27	0.3883	0.3883	NUM
gp-215	113	28	)	)	PUNCT
gp-215	113	29	.	.	PUNCT
gp-215	114	1	american	american	PROPN
gp-215	114	2	journal	journal	PROPN
gp-215	114	3	of	of	ADP
gp-215	114	4	economic	economic	ADJ
gp-215	114	5	and	and	CCONJ
gp-215	114	6	management	management	NOUN
gp-215	114	7	business	business	NOUN
gp-215	114	8	vol	vol	NOUN
gp-215	114	9	.	.	PROPN
gp-215	115	1	4	4	NUM
gp-215	115	2	no	no	NOUN
gp-215	115	3	.	.	NOUN
gp-215	115	4	5	5	NUM
gp-215	116	1	may	may	PROPN
gp-215	116	2	2025	2025	NUM
gp-215	116	3	396	396	NUM
gp-215	116	4	trading	trading	NOUN
gp-215	116	5	volume	volume	NOUN
gp-215	116	6	activity	activity	NOUN
gp-215	116	7	(	(	PUNCT
gp-215	116	8	tva	tva	PROPN
gp-215	116	9	)	)	PUNCT
gp-215	116	10	for	for	ADP
gp-215	116	11	soes	soe	NOUN
gp-215	116	12	in	in	ADP
gp-215	116	13	danantara	danantara	NOUN
gp-215	116	14	.	.	PUNCT
gp-215	117	1	short	short	ADJ
gp-215	117	2	-	-	PUNCT
gp-215	117	3	lived	live	VERB
gp-215	117	4	spike	spike	NOUN
gp-215	117	5	at	at	ADP
gp-215	117	6	t	t	PROPN
gp-215	117	7	=	=	SYM
gp-215	117	8	0	0	NUM
gp-215	117	9	reflects	reflect	VERB
gp-215	117	10	speculative	speculative	ADJ
gp-215	117	11	trading	trading	NOUN
gp-215	117	12	,	,	PUNCT
gp-215	117	13	but	but	CCONJ
gp-215	117	14	returns	return	NOUN
gp-215	117	15	quickly	quickly	ADV
gp-215	117	16	to	to	ADP
gp-215	117	17	long	long	ADJ
gp-215	117	18	-	-	PUNCT
gp-215	117	19	term	term	NOUN
gp-215	117	20	trading	trading	NOUN
gp-215	117	21	levels	level	NOUN
gp-215	117	22	.	.	PUNCT
gp-215	118	1	tva	tva	PROPN
gp-215	118	2	temporality	temporality	NOUN
gp-215	118	3	.	.	PUNCT
gp-215	119	1	the	the	DET
gp-215	119	2	shortlived	shortlive	VERB
gp-215	119	3	surge	surge	NOUN
gp-215	119	4	in	in	ADP
gp-215	119	5	tva	tva	PROPN
gp-215	119	6	(	(	PUNCT
gp-215	119	7	figure	figure	VERB
gp-215	119	8	y	y	NOUN
gp-215	119	9	)	)	PUNCT
gp-215	119	10	parallels	parallel	VERB
gp-215	119	11	attention	attention	NOUN
gp-215	119	12	-	-	PUNCT
gp-215	119	13	driven	drive	VERB
gp-215	119	14	trading	trading	NOUN
gp-215	119	15	(	(	PUNCT
gp-215	119	16	barber	barber	PROPN
gp-215	119	17	&	&	CCONJ
gp-215	119	18	odean	odean	ADJ
gp-215	119	19	,	,	PUNCT
gp-215	119	20	2008	2008	NUM
gp-215	119	21	)	)	PUNCT
gp-215	119	22	where	where	SCONJ
gp-215	119	23	investors	investor	NOUN
gp-215	119	24	have	have	VERB
gp-215	119	25	exposure	exposure	NOUN
gp-215	119	26	to	to	ADP
gp-215	119	27	headlines	headline	NOUN
gp-215	119	28	but	but	CCONJ
gp-215	119	29	there	there	PRON
gp-215	119	30	will	will	AUX
gp-215	119	31	not	not	PART
gp-215	119	32	be	be	AUX
gp-215	119	33	a	a	DET
gp-215	119	34	change	change	NOUN
gp-215	119	35	to	to	ADP
gp-215	119	36	long	long	ADJ
gp-215	119	37	-	-	PUNCT
gp-215	119	38	term	term	NOUN
gp-215	119	39	valuations	valuation	NOUN
gp-215	119	40	.	.	PUNCT
gp-215	120	1	this	this	DET
gp-215	120	2	effect	effect	NOUN
gp-215	120	3	is	be	AUX
gp-215	120	4	magnified	magnify	VERB
gp-215	120	5	in	in	ADP
gp-215	120	6	inefficient	inefficient	ADJ
gp-215	120	7	markets	market	NOUN
gp-215	120	8	where	where	SCONJ
gp-215	120	9	investors	investor	NOUN
gp-215	120	10	employ	employ	VERB
gp-215	120	11	heuristic	heuristic	ADJ
gp-215	120	12	decision	decision	NOUN
gp-215	120	13	-	-	PUNCT
gp-215	120	14	making	make	VERB
gp-215	120	15	and	and	CCONJ
gp-215	120	16	institutional	institutional	ADJ
gp-215	120	17	traders	trader	NOUN
gp-215	120	18	have	have	VERB
gp-215	120	19	little	little	ADJ
gp-215	120	20	role	role	NOUN
gp-215	120	21	to	to	PART
gp-215	120	22	play	play	VERB
gp-215	120	23	(	(	PUNCT
gp-215	120	24	megginson	megginson	PROPN
gp-215	120	25	&	&	CCONJ
gp-215	120	26	fotak	fotak	PROPN
gp-215	120	27	,	,	PUNCT
gp-215	120	28	2015	2015	NUM
gp-215	120	29	)	)	PUNCT
gp-215	120	30	.	.	PUNCT
gp-215	121	1	figure	figure	VERB
gp-215	121	2	3	3	NUM
gp-215	121	3	.	.	X
gp-215	121	4	abnormal	abnormal	ADJ
gp-215	121	5	trading	trading	NOUN
gp-215	121	6	volume	volume	NOUN
gp-215	121	7	(	(	PUNCT
gp-215	121	8	av	av	NOUN
gp-215	121	9	)	)	PUNCT
gp-215	121	10	figure	figure	NOUN
gp-215	121	11	4	4	NUM
gp-215	121	12	.	.	PUNCT
gp-215	121	13	trading	trading	NOUN
gp-215	121	14	volume	volume	NOUN
gp-215	121	15	activity	activity	NOUN
gp-215	121	16	(	(	PUNCT
gp-215	121	17	tva	tva	NOUN
gp-215	121	18	)	)	PUNCT
gp-215	121	19	trading	trading	NOUN
gp-215	121	20	dynamics	dynamic	NOUN
gp-215	121	21	observed	observe	VERB
gp-215	121	22	can	can	AUX
gp-215	121	23	be	be	AUX
gp-215	121	24	explained	explain	VERB
gp-215	121	25	by	by	ADP
gp-215	121	26	the	the	DET
gp-215	121	27	interaction	interaction	NOUN
gp-215	121	28	of	of	ADP
gp-215	121	29	retail	retail	ADJ
gp-215	121	30	investor	investor	NOUN
gp-215	121	31	-	-	PUNCT
gp-215	121	32	driven	drive	VERB
gp-215	121	33	momentum	momentum	NOUN
gp-215	121	34	and	and	CCONJ
gp-215	121	35	institutional	institutional	ADJ
gp-215	121	36	investor	investor	NOUN
gp-215	121	37	hesitancy	hesitancy	NOUN
gp-215	121	38	in	in	ADP
gp-215	121	39	emerging	emerge	VERB
gp-215	121	40	markets	market	NOUN
gp-215	121	41	.	.	PUNCT
gp-215	122	1	retail	retail	ADJ
gp-215	122	2	investors	investor	NOUN
gp-215	122	3	still	still	ADV
gp-215	122	4	tend	tend	VERB
gp-215	122	5	to	to	PART
gp-215	122	6	make	make	VERB
gp-215	122	7	decisions	decision	NOUN
gp-215	122	8	based	base	VERB
gp-215	122	9	on	on	ADP
gp-215	122	10	heuristics	heuristic	NOUN
gp-215	122	11	and	and	CCONJ
gp-215	122	12	herd	herd	NOUN
gp-215	122	13	behavior	behavior	NOUN
gp-215	122	14	(	(	PUNCT
gp-215	122	15	kalev	kalev	NOUN
gp-215	122	16	et	et	PROPN
gp-215	122	17	al	al	PROPN
gp-215	122	18	.	.	PROPN
gp-215	122	19	,	,	PUNCT
gp-215	122	20	2004	2004	NUM
gp-215	122	21	)	)	PUNCT
gp-215	122	22	,	,	PUNCT
gp-215	122	23	so	so	CCONJ
gp-215	122	24	it	it	PRON
gp-215	122	25	is	be	AUX
gp-215	122	26	plausible	plausible	ADJ
gp-215	122	27	that	that	SCONJ
gp-215	122	28	retail	retail	ADJ
gp-215	122	29	stimulus	stimulus	NOUN
gp-215	122	30	drove	drive	VERB
gp-215	122	31	the	the	DET
gp-215	122	32	momentary	momentary	ADJ
gp-215	122	33	spike	spike	NOUN
gp-215	122	34	in	in	ADP
gp-215	122	35	tva	tva	PROPN
gp-215	122	36	at	at	ADP
gp-215	122	37	t=0	t=0	PROPN
gp-215	122	38	,	,	PUNCT
gp-215	122	39	representing	represent	VERB
gp-215	122	40	a	a	DET
gp-215	122	41	conditioned	condition	VERB
gp-215	122	42	response	response	NOUN
gp-215	122	43	to	to	ADP
gp-215	122	44	the	the	DET
gp-215	122	45	danantara	danantara	NOUN
gp-215	122	46	announcement	announcement	NOUN
gp-215	122	47	as	as	ADP
gp-215	122	48	a	a	DET
gp-215	122	49	speculative	speculative	ADJ
gp-215	122	50	trade	trade	NOUN
gp-215	122	51	opportunity	opportunity	NOUN
gp-215	122	52	.	.	PUNCT
gp-215	123	1	this	this	PRON
gp-215	123	2	also	also	ADV
gp-215	123	3	correlates	correlate	VERB
gp-215	123	4	with	with	ADP
gp-215	123	5	barber	barber	PROPN
gp-215	123	6	&	&	CCONJ
gp-215	123	7	odean	odean	PROPN
gp-215	123	8	’s	’s	PART
gp-215	123	9	(	(	PUNCT
gp-215	123	10	2008	2008	NUM
gp-215	123	11	)	)	PUNCT
gp-215	123	12	“	"	PUNCT
gp-215	123	13	attention	attention	NOUN
gp-215	123	14	hypothesis	hypothesis	NOUN
gp-215	123	15	”	"	PUNCT
gp-215	123	16	in	in	ADP
gp-215	123	17	which	which	PRON
gp-215	123	18	media	medium	NOUN
gp-215	123	19	impressions	impression	NOUN
gp-215	123	20	provoke	provoke	VERB
gp-215	123	21	trading	trading	NOUN
gp-215	123	22	activity	activity	NOUN
gp-215	123	23	but	but	CCONJ
gp-215	123	24	do	do	AUX
gp-215	123	25	not	not	PART
gp-215	123	26	alter	alter	VERB
gp-215	123	27	valuation	valuation	NOUN
gp-215	123	28	,	,	PUNCT
gp-215	123	29	because	because	SCONJ
gp-215	123	30	retail	retail	ADJ
gp-215	123	31	investors	investor	NOUN
gp-215	123	32	respond	respond	VERB
gp-215	123	33	the	the	DET
gp-215	123	34	same	same	ADJ
gp-215	123	35	during	during	ADP
gp-215	123	36	directly	directly	ADV
gp-215	123	37	transacted	transact	VERB
gp-215	123	38	timeframes	timeframe	NOUN
gp-215	123	39	.	.	PUNCT
gp-215	124	1	institutional	institutional	ADJ
gp-215	124	2	investors	investor	NOUN
gp-215	124	3	may	may	AUX
gp-215	124	4	also	also	ADV
gp-215	124	5	possess	possess	VERB
gp-215	124	6	a	a	DET
gp-215	124	7	“	"	PUNCT
gp-215	124	8	wait	wait	VERB
gp-215	124	9	-	-	PUNCT
gp-215	124	10	and	and	CCONJ
gp-215	124	11	-	-	PUNCT
gp-215	124	12	see	see	VERB
gp-215	124	13	”	"	PUNCT
gp-215	124	14	approach	approach	NOUN
gp-215	124	15	toward	toward	ADP
gp-215	124	16	danantara	danantara	NOUN
gp-215	124	17	as	as	ADP
gp-215	124	18	a	a	DET
gp-215	124	19	result	result	NOUN
gp-215	124	20	of	of	ADP
gp-215	124	21	worry	worry	NOUN
gp-215	124	22	about	about	ADP
gp-215	124	23	policy	policy	NOUN
gp-215	124	24	uncertainty	uncertainty	NOUN
gp-215	124	25	and	and	CCONJ
gp-215	124	26	untested	untested	ADJ
gp-215	124	27	institutional	institutional	ADJ
gp-215	124	28	arrangements	arrangement	NOUN
gp-215	124	29	(	(	PUNCT
gp-215	124	30	bartram	bartram	PROPN
gp-215	124	31	et	et	PROPN
gp-215	124	32	al	al	PROPN
gp-215	124	33	.	.	PROPN
gp-215	124	34	,	,	PUNCT
gp-215	124	35	2021	2021	NUM
gp-215	124	36	)	)	PUNCT
gp-215	124	37	,	,	PUNCT
gp-215	124	38	so	so	SCONJ
gp-215	124	39	institutional	institutional	ADJ
gp-215	124	40	investors	investor	NOUN
gp-215	124	41	did	do	AUX
gp-215	124	42	not	not	PART
gp-215	124	43	sustain	sustain	VERB
gp-215	124	44	continuous	continuous	ADJ
gp-215	124	45	flow	flow	NOUN
gp-215	124	46	,	,	PUNCT
gp-215	124	47	waiting	wait	VERB
gp-215	124	48	for	for	SCONJ
gp-215	124	49	danantara	danantara	NOUN
gp-215	124	50	to	to	PART
gp-215	124	51	provide	provide	VERB
gp-215	124	52	production	production	NOUN
gp-215	124	53	real	real	ADJ
gp-215	124	54	-	-	PUNCT
gp-215	124	55	world	world	NOUN
gp-215	124	56	credibility	credibility	NOUN
gp-215	124	57	(	(	PUNCT
gp-215	124	58	megginson	megginson	PROPN
gp-215	124	59	&	&	CCONJ
gp-215	124	60	fotak	fotak	PROPN
gp-215	124	61	,	,	PUNCT
gp-215	124	62	2015	2015	NUM
gp-215	124	63	)	)	PUNCT
gp-215	124	64	.	.	PUNCT
gp-215	125	1	the	the	DET
gp-215	125	2	pattern	pattern	NOUN
gp-215	125	3	of	of	ADP
gp-215	125	4	retail	retail	ADJ
gp-215	125	5	stimulus	stimulus	NOUN
gp-215	125	6	-	-	PUNCT
gp-215	125	7	driven	drive	VERB
gp-215	125	8	speculative	speculative	ADJ
gp-215	125	9	spikes	spike	NOUN
gp-215	125	10	and	and	CCONJ
gp-215	125	11	commercial	commercial	ADJ
gp-215	125	12	specter	specter	NOUN
gp-215	125	13	in	in	ADP
gp-215	125	14	action	action	NOUN
gp-215	125	15	represents	represent	VERB
gp-215	125	16	different	different	ADJ
gp-215	125	17	levels	level	NOUN
gp-215	125	18	of	of	ADP
gp-215	125	19	trust	trust	NOUN
gp-215	125	20	in	in	ADP
gp-215	125	21	the	the	DET
gp-215	125	22	partners	partner	NOUN
gp-215	125	23	in	in	ADP
gp-215	125	24	schedule	schedule	NOUN
gp-215	125	25	execution	execution	NOUN
gp-215	125	26	and	and	CCONJ
gp-215	125	27	asymmetric	asymmetric	ADJ
gp-215	125	28	market	market	NOUN
gp-215	125	29	information	information	NOUN
gp-215	125	30	exposure	exposure	NOUN
gp-215	125	31	unique	unique	ADJ
gp-215	125	32	to	to	ADP
gp-215	125	33	emerging	emerge	VERB
gp-215	125	34	markets	market	NOUN
gp-215	125	35	(	(	PUNCT
gp-215	125	36	morck	morck	PROPN
gp-215	125	37	et	et	PROPN
gp-215	125	38	al	al	PROPN
gp-215	125	39	.	.	PROPN
gp-215	125	40	,	,	PUNCT
gp-215	125	41	2000	2000	NUM
gp-215	125	42	)	)	PUNCT
gp-215	125	43	.	.	PUNCT
gp-215	126	1	the	the	DET
gp-215	126	2	commercial	commercial	ADJ
gp-215	126	3	focus	focus	NOUN
gp-215	126	4	of	of	ADP
gp-215	126	5	institutional	institutional	ADJ
gp-215	126	6	actors	actor	NOUN
gp-215	126	7	layered	layer	VERB
gp-215	126	8	individual	individual	ADJ
gp-215	126	9	volition	volition	NOUN
gp-215	126	10	retail	retail	ADJ
gp-215	126	11	trade	trade	NOUN
gp-215	126	12	reactions	reaction	NOUN
gp-215	126	13	,	,	PUNCT
gp-215	126	14	suggesting	suggest	VERB
gp-215	126	15	that	that	SCONJ
gp-215	126	16	processes	process	NOUN
gp-215	126	17	will	will	AUX
gp-215	126	18	have	have	VERB
gp-215	126	19	the	the	DET
gp-215	126	20	potential	potential	NOUN
gp-215	126	21	to	to	PART
gp-215	126	22	mature	mature	VERB
gp-215	126	23	into	into	ADP
gp-215	126	24	a	a	DET
gp-215	126	25	flow	flow	NOUN
gp-215	126	26	when	when	SCONJ
gp-215	126	27	observable	observable	ADJ
gp-215	126	28	policies	policy	NOUN
gp-215	126	29	are	be	AUX
gp-215	126	30	met	meet	VERB
gp-215	126	31	.	.	PUNCT
gp-215	127	1	liquidity	liquidity	NOUN
gp-215	127	2	response	response	NOUN
gp-215	127	3	:	:	PUNCT
gp-215	127	4	amihud	amihud	PROPN
gp-215	127	5	illiquidity	illiquidity	NOUN
gp-215	127	6	(	(	PUNCT
gp-215	127	7	illiq	illiq	ADJ
gp-215	127	8	)	)	PUNCT
gp-215	127	9	h5	h5	PROPN
gp-215	127	10	posited	posit	VERB
gp-215	127	11	that	that	SCONJ
gp-215	127	12	the	the	DET
gp-215	127	13	announcement	announcement	NOUN
gp-215	127	14	of	of	ADP
gp-215	127	15	the	the	DET
gp-215	127	16	danantara	danantara	NOUN
gp-215	127	17	stock	stock	NOUN
gp-215	127	18	would	would	AUX
gp-215	127	19	affect	affect	VERB
gp-215	127	20	market	market	NOUN
gp-215	127	21	liquidity	liquidity	NOUN
gp-215	127	22	,	,	PUNCT
gp-215	127	23	using	use	VERB
gp-215	127	24	the	the	DET
gp-215	127	25	amihud	amihud	PROPN
gp-215	127	26	illiquidity	illiquidity	NOUN
gp-215	127	27	ratio	ratio	NOUN
gp-215	127	28	(	(	PUNCT
gp-215	127	29	illiq	illiq	ADV
gp-215	127	30	)	)	PUNCT
gp-215	127	31	as	as	ADP
gp-215	127	32	a	a	DET
gp-215	127	33	proxy	proxy	NOUN
gp-215	127	34	.	.	PUNCT
gp-215	128	1	from	from	ADP
gp-215	128	2	the	the	DET
gp-215	128	3	one	one	NUM
gp-215	128	4	-	-	PUNCT
gp-215	128	5	sample	sample	NOUN
gp-215	128	6	t	t	NOUN
gp-215	128	7	-	-	PUNCT
gp-215	128	8	test	test	NOUN
gp-215	128	9	results	result	NOUN
gp-215	128	10	,	,	PUNCT
gp-215	128	11	it	it	PRON
gp-215	128	12	is	be	AUX
gp-215	128	13	evident	evident	ADJ
gp-215	128	14	that	that	SCONJ
gp-215	128	15	at	at	ADP
gp-215	128	16	the	the	DET
gp-215	128	17	stock	stock	NOUN
gp-215	128	18	level	level	NOUN
gp-215	128	19	illiq	illiq	ADV
gp-215	128	20	was	be	AUX
gp-215	128	21	significant	significant	ADJ
gp-215	128	22	(	(	PUNCT
gp-215	128	23	p	p	X
gp-215	128	24	<	<	X
gp-215	128	25	0.0001	0.0001	NUM
gp-215	128	26	)	)	PUNCT
gp-215	128	27	suggesting	suggest	VERB
gp-215	128	28	temporarily	temporarily	ADV
gp-215	128	29	reduced	reduce	VERB
gp-215	128	30	liquidity	liquidity	NOUN
gp-215	128	31	.	.	PUNCT
gp-215	129	1	the	the	DET
gp-215	129	2	paired	pair	VERB
gp-215	129	3	sample	sample	NOUN
gp-215	129	4	t	t	PROPN
gp-215	129	5	-	-	PUNCT
gp-215	129	6	tests	test	NOUN
gp-215	129	7	were	be	AUX
gp-215	129	8	not	not	PART
gp-215	129	9	significant	significant	ADJ
gp-215	129	10	suggesting	suggest	VERB
gp-215	129	11	any	any	DET
gp-215	129	12	effect	effect	NOUN
gp-215	129	13	did	do	AUX
gp-215	129	14	not	not	PART
gp-215	129	15	persist	persist	VERB
gp-215	129	16	.	.	PUNCT
gp-215	130	1	the	the	DET
gp-215	130	2	two	two	NUM
gp-215	130	3	levels	level	NOUN
gp-215	130	4	of	of	ADP
gp-215	130	5	impact	impact	NOUN
gp-215	130	6	indicates	indicate	VERB
gp-215	130	7	that	that	SCONJ
gp-215	130	8	liquidity	liquidity	NOUN
gp-215	130	9	had	have	VERB
gp-215	130	10	a	a	DET
gp-215	130	11	temporary	temporary	ADJ
gp-215	130	12	event	event	NOUN
gp-215	130	13	and	and	CCONJ
gp-215	130	14	did	do	AUX
gp-215	130	15	not	not	PART
gp-215	130	16	remain	remain	VERB
gp-215	130	17	in	in	ADP
gp-215	130	18	effect	effect	NOUN
gp-215	130	19	after	after	ADP
gp-215	130	20	the	the	DET
gp-215	130	21	event	event	NOUN
gp-215	130	22	.	.	PUNCT
gp-215	131	1	illiq	illiq	ADV
gp-215	131	2	spike	spike	VERB
gp-215	131	3	sharply	sharply	ADV
gp-215	131	4	at	at	ADP
gp-215	131	5	t=0	t=0	PROPN
gp-215	131	6	,	,	PUNCT
gp-215	131	7	indicates	indicate	VERB
gp-215	131	8	25	25	NUM
gp-215	131	9	%	%	NOUN
gp-215	131	10	increase	increase	NOUN
gp-215	131	11	from	from	ADP
gp-215	131	12	pre	pre	ADJ
gp-215	131	13	-	-	ADJ
gp-215	131	14	event	event	ADJ
gp-215	131	15	levels	level	NOUN
gp-215	131	16	(	(	PUNCT
gp-215	131	17	baseline	baseline	PROPN
gp-215	131	18	~3.00	~3.00	NUM
gp-215	131	19	)	)	PUNCT
gp-215	131	20	,	,	PUNCT
gp-215	131	21	this	this	PRON
gp-215	131	22	is	be	AUX
gp-215	131	23	aligned	align	VERB
gp-215	131	24	with	with	ADP
gp-215	131	25	the	the	DET
gp-215	131	26	significant	significant	ADJ
gp-215	131	27	one	one	NUM
gp-215	131	28	-	-	PUNCT
gp-215	131	29	sample	sample	NOUN
gp-215	131	30	t	t	NOUN
gp-215	131	31	-	-	PUNCT
gp-215	131	32	test	test	NOUN
gp-215	131	33	results	result	NOUN
gp-215	131	34	.	.	PUNCT
gp-215	132	1	by	by	ADP
gp-215	132	2	t+3	t+3	VERB
gp-215	132	3	,	,	PUNCT
gp-215	132	4	illiq	illiq	ADV
gp-215	132	5	reverted	revert	VERB
gp-215	132	6	to	to	ADP
gp-215	132	7	baseline	baseline	NOUN
gp-215	132	8	levels	level	NOUN
gp-215	132	9	,	,	PUNCT
gp-215	132	10	corroborating	corroborate	VERB
gp-215	132	11	insignificant	insignificant	ADJ
gp-215	132	12	paired	pair	VERB
gp-215	132	13	t	t	PROPN
gp-215	132	14	-	-	PUNCT
gp-215	132	15	test	test	NOUN
gp-215	132	16	results	result	NOUN
gp-215	132	17	(	(	PUNCT
gp-215	132	18	p	p	X
gp-215	132	19	=	=	NOUN
gp-215	132	20	0.288	0.288	NUM
gp-215	132	21	)	)	PUNCT
gp-215	132	22	.	.	PUNCT
gp-215	133	1	reni	reni	PROPN
gp-215	133	2	lestari	lestari	PROPN
gp-215	133	3	,	,	PUNCT
gp-215	133	4	lindsay	lindsay	PROPN
gp-215	133	5	carnelian	carnelian	PROPN
gp-215	133	6	emily	emily	PROPN
gp-215	133	7	397	397	NUM
gp-215	133	8	figure	figure	NOUN
gp-215	133	9	5	5	NUM
gp-215	133	10	.	.	PUNCT
gp-215	133	11	amihud	amihud	PROPN
gp-215	133	12	illiquidity	illiquidity	NOUN
gp-215	133	13	ratio	ratio	NOUN
gp-215	133	14	(	(	PUNCT
gp-215	133	15	illiq	illiq	ADV
gp-215	133	16	)	)	PUNCT
gp-215	133	17	this	this	PRON
gp-215	133	18	supports	support	VERB
gp-215	133	19	amihud	amihud	PROPN
gp-215	133	20	(	(	PUNCT
gp-215	133	21	2002	2002	NUM
gp-215	133	22	)	)	PUNCT
gp-215	133	23	who	who	PRON
gp-215	133	24	described	describe	VERB
gp-215	133	25	liquidity	liquidity	NOUN
gp-215	133	26	shocks	shock	NOUN
gp-215	133	27	in	in	ADP
gp-215	133	28	emerging	emerge	VERB
gp-215	133	29	markets	market	NOUN
gp-215	133	30	as	as	ADP
gp-215	133	31	a	a	DET
gp-215	133	32	likely	likely	ADJ
gp-215	133	33	signature	signature	NOUN
gp-215	133	34	of	of	ADP
gp-215	133	35	informational	informational	ADJ
gp-215	133	36	uncertainty	uncertainty	NOUN
gp-215	133	37	and	and	CCONJ
gp-215	133	38	execution	execution	NOUN
gp-215	133	39	risk	risk	NOUN
gp-215	133	40	(	(	PUNCT
gp-215	133	41	risk	risk	NOUN
gp-215	133	42	from	from	ADP
gp-215	133	43	asymmetric	asymmetric	ADJ
gp-215	133	44	information	information	NOUN
gp-215	133	45	)	)	PUNCT
gp-215	133	46	.	.	PUNCT
gp-215	134	1	liquidity	liquidity	NOUN
gp-215	134	2	is	be	AUX
gp-215	134	3	reacting	react	VERB
gp-215	134	4	to	to	ADP
gp-215	134	5	uncertainty	uncertainty	NOUN
gp-215	134	6	and	and	CCONJ
gp-215	134	7	being	be	AUX
gp-215	134	8	without	without	ADP
gp-215	134	9	doubt	doubt	NOUN
gp-215	134	10	its	its	PRON
gp-215	134	11	naturally	naturally	ADV
gp-215	134	12	moving	move	VERB
gp-215	134	13	.	.	PUNCT
gp-215	135	1	the	the	DET
gp-215	135	2	relations	relation	NOUN
gp-215	135	3	of	of	ADP
gp-215	135	4	our	our	PRON
gp-215	135	5	results	result	NOUN
gp-215	135	6	and	and	CCONJ
gp-215	135	7	amihud	amihud	VERB
gp-215	135	8	for	for	ADP
gp-215	135	9	emerging	emerge	VERB
gp-215	135	10	markets	market	NOUN
gp-215	135	11	,	,	PUNCT
gp-215	135	12	fernandes	fernandes	PROPN
gp-215	135	13	&	&	CCONJ
gp-215	135	14	ferreira	ferreira	PROPN
gp-215	135	15	(	(	PUNCT
gp-215	135	16	2013	2013	NUM
gp-215	135	17	)	)	PUNCT
gp-215	135	18	have	have	AUX
gp-215	135	19	established	establish	VERB
gp-215	135	20	that	that	SCONJ
gp-215	135	21	liquidity	liquidity	NOUN
gp-215	135	22	reacted	react	VERB
gp-215	135	23	to	to	ADP
gp-215	135	24	institutional	institutional	ADJ
gp-215	135	25	signals	signal	NOUN
gp-215	135	26	instead	instead	ADV
gp-215	135	27	of	of	ADP
gp-215	135	28	prices	price	NOUN
gp-215	135	29	owing	owe	VERB
gp-215	135	30	to	to	ADP
gp-215	135	31	stronger	strong	ADJ
gp-215	135	32	information	information	NOUN
gp-215	135	33	asymmetry	asymmetry	NOUN
gp-215	135	34	and	and	CCONJ
gp-215	135	35	lesser	less	ADJ
gp-215	135	36	trust	trust	NOUN
gp-215	135	37	of	of	ADP
gp-215	135	38	the	the	DET
gp-215	135	39	investor	investor	NOUN
gp-215	135	40	compared	compare	VERB
gp-215	135	41	to	to	ADP
gp-215	135	42	a	a	DET
gp-215	135	43	developed	developed	ADJ
gp-215	135	44	market	market	NOUN
gp-215	135	45	.	.	PUNCT
gp-215	136	1	the	the	DET
gp-215	136	2	results	result	NOUN
gp-215	136	3	support	support	VERB
gp-215	136	4	h5	h5	NOUN
gp-215	136	5	,	,	PUNCT
gp-215	136	6	but	but	CCONJ
gp-215	136	7	only	only	ADV
gp-215	136	8	for	for	ADP
gp-215	136	9	the	the	DET
gp-215	136	10	very	very	ADV
gp-215	136	11	short	short	ADJ
gp-215	136	12	-	-	PUNCT
gp-215	136	13	term	term	NOUN
gp-215	136	14	;	;	PUNCT
gp-215	136	15	market	market	NOUN
gp-215	136	16	liquidity	liquidity	NOUN
gp-215	136	17	was	be	AUX
gp-215	136	18	disrupted	disrupt	VERB
gp-215	136	19	temporarily	temporarily	ADV
gp-215	136	20	,	,	PUNCT
gp-215	136	21	due	due	ADP
gp-215	136	22	to	to	ADP
gp-215	136	23	the	the	DET
gp-215	136	24	uncertainty	uncertainty	NOUN
gp-215	136	25	regarding	regard	VERB
gp-215	136	26	the	the	DET
gp-215	136	27	institutional	institutional	ADJ
gp-215	136	28	event	event	NOUN
gp-215	136	29	.	.	PUNCT
gp-215	137	1	overall	overall	ADV
gp-215	137	2	,	,	PUNCT
gp-215	137	3	the	the	DET
gp-215	137	4	danantara	danantara	NOUN
gp-215	137	5	announcement	announcement	NOUN
gp-215	137	6	did	do	AUX
gp-215	137	7	not	not	PART
gp-215	137	8	have	have	VERB
gp-215	137	9	a	a	DET
gp-215	137	10	material	material	ADJ
gp-215	137	11	impact	impact	NOUN
gp-215	137	12	on	on	ADP
gp-215	137	13	the	the	DET
gp-215	137	14	stock	stock	NOUN
gp-215	137	15	prices	price	NOUN
gp-215	137	16	;	;	PUNCT
gp-215	137	17	however	however	ADV
gp-215	137	18	,	,	PUNCT
gp-215	137	19	it	it	PRON
gp-215	137	20	did	do	AUX
gp-215	137	21	create	create	VERB
gp-215	137	22	short	short	ADV
gp-215	137	23	-	-	PUNCT
gp-215	137	24	lived	live	VERB
gp-215	137	25	behavioral	behavioral	ADJ
gp-215	137	26	responses	response	NOUN
gp-215	137	27	,	,	PUNCT
gp-215	137	28	as	as	SCONJ
gp-215	137	29	evidenced	evidence	VERB
gp-215	137	30	by	by	ADP
gp-215	137	31	increased	increase	VERB
gp-215	137	32	trading	trading	NOUN
gp-215	137	33	volume	volume	NOUN
gp-215	137	34	and	and	CCONJ
gp-215	137	35	some	some	DET
gp-215	137	36	perturbation	perturbation	NOUN
gp-215	137	37	in	in	ADP
gp-215	137	38	liquidity	liquidity	NOUN
gp-215	137	39	.	.	PUNCT
gp-215	138	1	these	these	DET
gp-215	138	2	behavioral	behavioral	ADJ
gp-215	138	3	responses	response	NOUN
gp-215	138	4	imply	imply	VERB
gp-215	138	5	that	that	SCONJ
gp-215	138	6	investors	investor	NOUN
gp-215	138	7	considered	consider	VERB
gp-215	138	8	the	the	DET
gp-215	138	9	announcement	announcement	NOUN
gp-215	138	10	institutionally	institutionally	ADV
gp-215	138	11	important	important	ADJ
gp-215	138	12	,	,	PUNCT
gp-215	138	13	however	however	ADV
gp-215	138	14	they	they	PRON
gp-215	138	15	were	be	AUX
gp-215	138	16	careful	careful	ADJ
gp-215	138	17	not	not	PART
gp-215	138	18	to	to	PART
gp-215	138	19	change	change	VERB
gp-215	138	20	valuations	valuation	NOUN
gp-215	138	21	pending	pende	VERB
gp-215	138	22	concrete	concrete	ADJ
gp-215	138	23	signals	signal	NOUN
gp-215	138	24	about	about	ADP
gp-215	138	25	the	the	DET
gp-215	138	26	implementation	implementation	NOUN
gp-215	138	27	or	or	CCONJ
gp-215	138	28	economic	economic	ADJ
gp-215	138	29	effects	effect	NOUN
gp-215	138	30	.	.	PUNCT
gp-215	139	1	this	this	PRON
gp-215	139	2	has	have	VERB
gp-215	139	3	implications	implication	NOUN
gp-215	139	4	for	for	ADP
gp-215	139	5	future	future	ADJ
gp-215	139	6	study	study	NOUN
gp-215	139	7	of	of	ADP
gp-215	139	8	emerging	emerge	VERB
gp-215	139	9	markets	market	NOUN
gp-215	139	10	,	,	PUNCT
gp-215	139	11	as	as	SCONJ
gp-215	139	12	these	these	DET
gp-215	139	13	indicators	indicator	NOUN
gp-215	139	14	demonstrate	demonstrate	VERB
gp-215	139	15	that	that	SCONJ
gp-215	139	16	,	,	PUNCT
gp-215	139	17	when	when	SCONJ
gp-215	139	18	no	no	DET
gp-215	139	19	immediate	immediate	ADJ
gp-215	139	20	economic	economic	ADJ
gp-215	139	21	consequences	consequence	NOUN
gp-215	139	22	of	of	ADP
gp-215	139	23	an	an	DET
gp-215	139	24	announcement	announcement	NOUN
gp-215	139	25	exist	exist	VERB
gp-215	139	26	,	,	PUNCT
gp-215	139	27	reactions	reaction	NOUN
gp-215	139	28	to	to	ADP
gp-215	139	29	announcements	announcement	NOUN
gp-215	139	30	are	be	AUX
gp-215	139	31	likely	likely	ADJ
gp-215	139	32	to	to	PART
gp-215	139	33	appear	appear	VERB
gp-215	139	34	in	in	ADP
gp-215	139	35	microstructure	microstructure	ADJ
gp-215	139	36	indicators	indicator	NOUN
gp-215	139	37	(	(	PUNCT
gp-215	139	38	volume	volume	NOUN
gp-215	139	39	,	,	PUNCT
gp-215	139	40	liquidity	liquidity	NOUN
gp-215	139	41	)	)	PUNCT
gp-215	139	42	more	more	ADV
gp-215	139	43	so	so	ADV
gp-215	139	44	than	than	ADP
gp-215	139	45	in	in	ADP
gp-215	139	46	price	price	NOUN
gp-215	139	47	.	.	PUNCT
gp-215	140	1	conversely	conversely	ADV
gp-215	140	2	,	,	PUNCT
gp-215	140	3	this	this	DET
gp-215	140	4	result	result	NOUN
gp-215	140	5	aligns	align	VERB
gp-215	140	6	with	with	ADP
gp-215	140	7	the	the	DET
gp-215	140	8	suggestion	suggestion	NOUN
gp-215	140	9	that	that	SCONJ
gp-215	140	10	in	in	ADP
gp-215	140	11	emerging	emerge	VERB
gp-215	140	12	markets	market	NOUN
gp-215	140	13	investors	investor	NOUN
gp-215	140	14	react	react	VERB
gp-215	140	15	with	with	ADP
gp-215	140	16	caution	caution	NOUN
gp-215	140	17	to	to	ADP
gp-215	140	18	institutional	institutional	ADJ
gp-215	140	19	declarations	declaration	NOUN
gp-215	140	20	and	and	CCONJ
gp-215	140	21	react	react	VERB
gp-215	140	22	more	more	ADJ
gp-215	140	23	to	to	ADP
gp-215	140	24	liquidity	liquidity	NOUN
gp-215	140	25	and	and	CCONJ
gp-215	140	26	volume	volume	NOUN
gp-215	140	27	indicators	indicator	NOUN
gp-215	140	28	than	than	ADP
gp-215	140	29	prices	price	NOUN
gp-215	140	30	when	when	SCONJ
gp-215	140	31	considering	consider	VERB
gp-215	140	32	uncertain	uncertain	ADJ
gp-215	140	33	reforms	reform	NOUN
gp-215	140	34	(	(	PUNCT
gp-215	140	35	megginson	megginson	PROPN
gp-215	140	36	&	&	CCONJ
gp-215	140	37	fotak	fotak	PROPN
gp-215	140	38	,	,	PUNCT
gp-215	140	39	2015	2015	NUM
gp-215	140	40	)	)	PUNCT
gp-215	140	41	.	.	PUNCT
gp-215	141	1	market	market	NOUN
gp-215	141	2	level	level	NOUN
gp-215	141	3	reaction	reaction	NOUN
gp-215	141	4	beyond	beyond	ADP
gp-215	141	5	analyzing	analyze	VERB
gp-215	141	6	firm	firm	ADJ
gp-215	141	7	-	-	PUNCT
gp-215	141	8	specific	specific	ADJ
gp-215	141	9	reactions	reaction	NOUN
gp-215	141	10	,	,	PUNCT
gp-215	141	11	this	this	DET
gp-215	141	12	study	study	NOUN
gp-215	141	13	also	also	ADV
gp-215	141	14	investigates	investigate	VERB
gp-215	141	15	the	the	DET
gp-215	141	16	reaction	reaction	NOUN
gp-215	141	17	of	of	ADP
gp-215	141	18	the	the	DET
gp-215	141	19	whole	whole	ADJ
gp-215	141	20	market	market	NOUN
gp-215	141	21	via	via	ADP
gp-215	141	22	the	the	DET
gp-215	141	23	jakarta	jakarta	PROPN
gp-215	141	24	composite	composite	PROPN
gp-215	141	25	index	index	NOUN
gp-215	141	26	(	(	PUNCT
gp-215	141	27	ihsg	ihsg	NOUN
gp-215	141	28	)	)	PUNCT
gp-215	141	29	.	.	PUNCT
gp-215	142	1	this	this	PRON
gp-215	142	2	is	be	AUX
gp-215	142	3	important	important	ADJ
gp-215	142	4	to	to	PART
gp-215	142	5	consider	consider	VERB
gp-215	142	6	since	since	SCONJ
gp-215	142	7	we	we	PRON
gp-215	142	8	need	need	VERB
gp-215	142	9	to	to	PART
gp-215	142	10	determine	determine	VERB
gp-215	142	11	if	if	SCONJ
gp-215	142	12	the	the	DET
gp-215	142	13	creation	creation	NOUN
gp-215	142	14	of	of	ADP
gp-215	142	15	danantara	danantara	NOUN
gp-215	142	16	affected	affect	VERB
gp-215	142	17	market	market	NOUN
gp-215	142	18	-	-	PUNCT
gp-215	142	19	wide	wide	ADJ
gp-215	142	20	expectations	expectation	NOUN
gp-215	142	21	systemically	systemically	ADV
gp-215	142	22	.	.	PUNCT
gp-215	143	1	the	the	DET
gp-215	143	2	analysis	analysis	NOUN
gp-215	143	3	uses	use	VERB
gp-215	143	4	the	the	DET
gp-215	143	5	same	same	ADJ
gp-215	143	6	strategy	strategy	NOUN
gp-215	143	7	by	by	ADP
gp-215	143	8	applying	apply	VERB
gp-215	143	9	the	the	DET
gp-215	143	10	same	same	ADJ
gp-215	143	11	event	event	NOUN
gp-215	143	12	study	study	NOUN
gp-215	143	13	method	method	NOUN
gp-215	143	14	with	with	ADP
gp-215	143	15	the	the	DET
gp-215	143	16	same	same	ADJ
gp-215	143	17	variables	variable	NOUN
gp-215	143	18	abnormal	abnormal	ADJ
gp-215	143	19	return	return	NOUN
gp-215	143	20	(	(	PUNCT
gp-215	143	21	ar	ar	NOUN
gp-215	143	22	)	)	PUNCT
gp-215	143	23	,	,	PUNCT
gp-215	143	24	abnormal	abnormal	ADJ
gp-215	143	25	volume	volume	NOUN
gp-215	143	26	(	(	PUNCT
gp-215	143	27	av	av	NOUN
gp-215	143	28	)	)	PUNCT
gp-215	143	29	,	,	PUNCT
gp-215	143	30	and	and	CCONJ
gp-215	143	31	amihud	amihud	VERB
gp-215	143	32	illiquidity	illiquidity	NOUN
gp-215	143	33	(	(	PUNCT
gp-215	143	34	illiq	illiq	ADV
gp-215	143	35	)	)	PUNCT
gp-215	143	36	for	for	ADP
gp-215	143	37	ihsg	ihsg	NOUN
gp-215	143	38	.	.	PUNCT
gp-215	144	1	table	table	NOUN
gp-215	144	2	3	3	NUM
gp-215	144	3	.	.	PUNCT
gp-215	145	1	event	event	NOUN
gp-215	145	2	study	study	NOUN
gp-215	145	3	result	result	VERB
gp-215	145	4	–	–	PUNCT
gp-215	145	5	market	market	NOUN
gp-215	145	6	level	level	NOUN
gp-215	145	7	variable	variable	NOUN
gp-215	145	8	one	one	NUM
gp-215	145	9	-	-	PUNCT
gp-215	145	10	sample	sample	NOUN
gp-215	145	11	t	t	NOUN
gp-215	145	12	-	-	PUNCT
gp-215	145	13	stat	stat	NOUN
gp-215	145	14	p	p	NOUN
gp-215	145	15	-	-	PUNCT
gp-215	145	16	value	value	NOUN
gp-215	145	17	paired	pair	VERB
gp-215	145	18	t	t	NOUN
gp-215	145	19	-	-	PUNCT
gp-215	145	20	stat	stat	NOUN
gp-215	145	21	p	p	NOUN
gp-215	145	22	-	-	PUNCT
gp-215	145	23	value	value	NOUN
gp-215	145	24	ar	ar	NOUN
gp-215	145	25	-0.0234	-0.0234	NOUN
gp-215	145	26	0.9818	0.9818	NUM
gp-215	146	1	0.7590	0.7590	NUM
gp-215	146	2	0.4901	0.4901	NUM
gp-215	146	3	av	av	PRON
gp-215	146	4	-3.0020	-3.0020	VERB
gp-215	146	5	0.0133	0.0133	NUM
gp-215	146	6	*	*	PUNCT
gp-215	146	7	-1.3441	-1.3441	NOUN
gp-215	146	8	0.2501	0.2501	NUM
gp-215	146	9	illiq	illiq	ADV
gp-215	146	10	5.1068	5.1068	NUM
gp-215	146	11	0.0005	0.0005	NUM
gp-215	146	12	*	*	NUM
gp-215	146	13	1.2231	1.2231	NUM
gp-215	146	14	0.2884	0.2884	NUM
gp-215	146	15	american	american	ADJ
gp-215	146	16	journal	journal	NOUN
gp-215	146	17	of	of	ADP
gp-215	146	18	economic	economic	ADJ
gp-215	146	19	and	and	CCONJ
gp-215	146	20	management	management	NOUN
gp-215	146	21	business	business	NOUN
gp-215	146	22	vol	vol	NOUN
gp-215	146	23	.	.	PROPN
gp-215	147	1	4	4	NUM
gp-215	147	2	no	no	NOUN
gp-215	147	3	.	.	NOUN
gp-215	147	4	5	5	NUM
gp-215	147	5	may	may	AUX
gp-215	147	6	2025	2025	NUM
gp-215	147	7	398	398	NUM
gp-215	147	8	the	the	DET
gp-215	147	9	findings	finding	NOUN
gp-215	147	10	indicate	indicate	VERB
gp-215	147	11	that	that	SCONJ
gp-215	147	12	abnormal	abnormal	ADJ
gp-215	147	13	return	return	NOUN
gp-215	147	14	(	(	PUNCT
gp-215	147	15	ar	ar	NOUN
gp-215	147	16	)	)	PUNCT
gp-215	147	17	in	in	ADP
gp-215	147	18	the	the	DET
gp-215	147	19	market	market	NOUN
gp-215	147	20	level	level	NOUN
gp-215	147	21	was	be	AUX
gp-215	147	22	not	not	PART
gp-215	147	23	statistically	statistically	ADV
gp-215	147	24	significant	significant	ADJ
gp-215	147	25	at	at	ADP
gp-215	147	26	the	the	DET
gp-215	147	27	market	market	NOUN
gp-215	147	28	level	level	NOUN
gp-215	147	29	(	(	PUNCT
gp-215	147	30	p	p	X
gp-215	147	31	>	>	X
gp-215	147	32	0.90	0.90	NUM
gp-215	147	33	)	)	PUNCT
gp-215	147	34	.	.	PUNCT
gp-215	148	1	the	the	DET
gp-215	148	2	lack	lack	NOUN
gp-215	148	3	of	of	ADP
gp-215	148	4	price	price	NOUN
gp-215	148	5	reactions	reaction	NOUN
gp-215	148	6	(	(	PUNCT
gp-215	148	7	h1	h1	PROPN
gp-215	148	8	/	/	SYM
gp-215	148	9	h2	h2	NOUN
gp-215	148	10	)	)	PUNCT
gp-215	148	11	at	at	ADP
gp-215	148	12	both	both	CCONJ
gp-215	148	13	market	market	NOUN
gp-215	148	14	and	and	CCONJ
gp-215	148	15	firm	firm	ADJ
gp-215	148	16	levels	level	NOUN
gp-215	148	17	strengthens	strengthen	VERB
gp-215	148	18	the	the	DET
gp-215	148	19	semi	semi	ADJ
gp-215	148	20	-	-	ADJ
gp-215	148	21	strong	strong	ADJ
gp-215	148	22	form	form	NOUN
gp-215	148	23	of	of	ADP
gp-215	148	24	the	the	DET
gp-215	148	25	efficient	efficient	ADJ
gp-215	148	26	market	market	NOUN
gp-215	148	27	hypothesis	hypothesis	NOUN
gp-215	148	28	(	(	PUNCT
gp-215	148	29	fama	fama	NOUN
gp-215	148	30	,	,	PUNCT
gp-215	148	31	1970	1970	NUM
gp-215	148	32	)	)	PUNCT
gp-215	148	33	,	,	PUNCT
gp-215	148	34	where	where	SCONJ
gp-215	148	35	non	non	ADJ
gp-215	148	36	-	-	ADJ
gp-215	148	37	material	material	ADJ
gp-215	148	38	announcements	announcement	NOUN
gp-215	148	39	do	do	AUX
gp-215	148	40	not	not	PART
gp-215	148	41	affiliate	affiliate	VERB
gp-215	148	42	with	with	ADP
gp-215	148	43	any	any	DET
gp-215	148	44	immediate	immediate	ADJ
gp-215	148	45	changes	change	NOUN
gp-215	148	46	in	in	ADP
gp-215	148	47	valuation	valuation	NOUN
gp-215	148	48	.	.	PUNCT
gp-215	149	1	while	while	SCONJ
gp-215	149	2	,	,	PUNCT
gp-215	149	3	the	the	DET
gp-215	149	4	av	av	PROPN
gp-215	149	5	and	and	CCONJ
gp-215	149	6	illiq	illiq	ADV
gp-215	149	7	were	be	AUX
gp-215	149	8	statistically	statistically	ADV
gp-215	149	9	significant	significant	ADJ
gp-215	149	10	at	at	ADP
gp-215	149	11	the	the	DET
gp-215	149	12	market	market	NOUN
gp-215	149	13	level	level	NOUN
gp-215	149	14	(	(	PUNCT
gp-215	149	15	p	p	X
gp-215	149	16	<	<	X
gp-215	149	17	0.05	0.05	NUM
gp-215	149	18	)	)	PUNCT
gp-215	149	19	.	.	PUNCT
gp-215	150	1	the	the	DET
gp-215	150	2	measured	measure	VERB
gp-215	150	3	av	av	PROPN
gp-215	150	4	and	and	CCONJ
gp-215	150	5	illiq	illiq	ADJ
gp-215	150	6	shifts	shift	NOUN
gp-215	150	7	,	,	PUNCT
gp-215	150	8	however	however	ADV
gp-215	150	9	,	,	PUNCT
gp-215	150	10	allude	allude	VERB
gp-215	150	11	to	to	ADP
gp-215	150	12	a	a	DET
gp-215	150	13	behavioral	behavioral	ADJ
gp-215	150	14	reaction	reaction	NOUN
gp-215	150	15	based	base	VERB
gp-215	150	16	on	on	ADP
gp-215	150	17	the	the	DET
gp-215	150	18	idiosyncrasies	idiosyncrasy	NOUN
gp-215	150	19	of	of	ADP
gp-215	150	20	a	a	DET
gp-215	150	21	structural	structural	ADJ
gp-215	150	22	nature	nature	NOUN
gp-215	150	23	that	that	PRON
gp-215	150	24	are	be	AUX
gp-215	150	25	unique	unique	ADJ
gp-215	150	26	to	to	ADP
gp-215	150	27	indonesia	indonesia	PROPN
gp-215	150	28	.	.	PUNCT
gp-215	151	1	retail	retail	ADJ
gp-215	151	2	investors	investor	NOUN
gp-215	151	3	account	account	VERB
gp-215	151	4	for	for	ADP
gp-215	151	5	approximately	approximately	ADV
gp-215	151	6	65	65	NUM
gp-215	151	7	%	%	NOUN
gp-215	151	8	of	of	ADP
gp-215	151	9	the	the	DET
gp-215	151	10	indonesian	indonesian	ADJ
gp-215	151	11	equity	equity	NOUN
gp-215	151	12	marketplace	marketplace	NOUN
gp-215	151	13	(	(	PUNCT
gp-215	151	14	indonesia	indonesia	PROPN
gp-215	151	15	stock	stock	PROPN
gp-215	151	16	exchange	exchange	PROPN
gp-215	151	17	(	(	PUNCT
gp-215	151	18	idx	idx	PROPN
gp-215	151	19	)	)	PUNCT
gp-215	151	20	,	,	PUNCT
gp-215	151	21	2023	2023	NUM
gp-215	151	22	)	)	PUNCT
gp-215	151	23	,	,	PUNCT
gp-215	151	24	and	and	CCONJ
gp-215	151	25	as	as	SCONJ
gp-215	151	26	other	other	ADJ
gp-215	151	27	authors	author	NOUN
gp-215	151	28	have	have	AUX
gp-215	151	29	suggested	suggest	VERB
gp-215	151	30	,	,	PUNCT
gp-215	151	31	there	there	PRON
gp-215	151	32	is	be	VERB
gp-215	151	33	a	a	DET
gp-215	151	34	likelihood	likelihood	NOUN
gp-215	151	35	that	that	SCONJ
gp-215	151	36	av	av	PRON
gp-215	151	37	increased	increase	VERB
gp-215	151	38	by	by	ADP
gp-215	151	39	retail	retail	ADJ
gp-215	151	40	investors	investor	NOUN
gp-215	151	41	as	as	ADP
gp-215	151	42	a	a	DET
gp-215	151	43	function	function	NOUN
gp-215	151	44	of	of	ADP
gp-215	151	45	attentionbased	attentionbase	VERB
gp-215	151	46	trading	trading	NOUN
gp-215	151	47	(	(	PUNCT
gp-215	151	48	barber	barber	PROPN
gp-215	151	49	&	&	CCONJ
gp-215	151	50	odean	odean	PROPN
gp-215	151	51	,	,	PUNCT
gp-215	151	52	2008	2008	NUM
gp-215	151	53	)	)	PUNCT
gp-215	151	54	.	.	PUNCT
gp-215	152	1	moreover	moreover	ADV
gp-215	152	2	,	,	PUNCT
gp-215	152	3	amhud	amhud	PROPN
gp-215	152	4	's	's	PART
gp-215	152	5	(	(	PUNCT
gp-215	152	6	2002	2002	NUM
gp-215	152	7	)	)	PUNCT
gp-215	152	8	research	research	NOUN
gp-215	152	9	on	on	ADP
gp-215	152	10	liquidity	liquidity	NOUN
gp-215	152	11	demonstrates	demonstrate	VERB
gp-215	152	12	institutional	institutional	ADJ
gp-215	152	13	investors	investor	NOUN
gp-215	152	14	are	be	AUX
gp-215	152	15	more	more	ADJ
gp-215	152	16	risk	risk	NOUN
gp-215	152	17	-	-	PUNCT
gp-215	152	18	averse	averse	ADJ
gp-215	152	19	particularly	particularly	ADV
gp-215	152	20	when	when	SCONJ
gp-215	152	21	uncertainty	uncertainty	NOUN
gp-215	152	22	surrounds	surround	VERB
gp-215	152	23	policy	policy	NOUN
gp-215	152	24	.	.	PUNCT
gp-215	153	1	though	though	SCONJ
gp-215	153	2	institutional	institutional	ADJ
gp-215	153	3	investors	investor	NOUN
gp-215	153	4	may	may	AUX
gp-215	153	5	not	not	PART
gp-215	153	6	actually	actually	ADV
gp-215	153	7	possess	possess	VERB
gp-215	153	8	asymmetric	asymmetric	ADJ
gp-215	153	9	information	information	NOUN
gp-215	153	10	with	with	ADP
gp-215	153	11	respect	respect	NOUN
gp-215	153	12	to	to	ADP
gp-215	153	13	the	the	DET
gp-215	153	14	event	event	NOUN
gp-215	153	15	announcement	announcement	NOUN
gp-215	153	16	,	,	PUNCT
gp-215	153	17	their	their	PRON
gp-215	153	18	behavior	behavior	NOUN
gp-215	153	19	is	be	AUX
gp-215	153	20	characterized	characterize	VERB
gp-215	153	21	as	as	ADP
gp-215	153	22	risk	risk	NOUN
gp-215	153	23	-	-	PUNCT
gp-215	153	24	averse	averse	ADJ
gp-215	153	25	and	and	CCONJ
gp-215	153	26	resulted	result	VERB
gp-215	153	27	in	in	ADP
gp-215	153	28	negative	negative	ADJ
gp-215	153	29	reactions	reaction	NOUN
gp-215	153	30	to	to	ADP
gp-215	153	31	a	a	DET
gp-215	153	32	value	value	NOUN
gp-215	153	33	-	-	PUNCT
gp-215	153	34	enhancing	enhance	VERB
gp-215	153	35	announcement	announcement	NOUN
gp-215	153	36	considering	consider	VERB
gp-215	153	37	their	their	PRON
gp-215	153	38	unwillingness	unwillingness	NOUN
gp-215	153	39	to	to	PART
gp-215	153	40	provide	provide	VERB
gp-215	153	41	liquidity	liquidity	NOUN
gp-215	153	42	.	.	PUNCT
gp-215	154	1	figure	figure	NOUN
gp-215	154	2	6	6	NUM
gp-215	154	3	.	.	PUNCT
gp-215	154	4	abnormal	abnormal	ADJ
gp-215	154	5	volume	volume	NOUN
gp-215	154	6	(	(	PUNCT
gp-215	154	7	av	av	NOUN
gp-215	154	8	)	)	PUNCT
gp-215	154	9	figure	figure	NOUN
gp-215	154	10	7	7	NUM
gp-215	154	11	.	.	PUNCT
gp-215	154	12	amihud	amihud	PROPN
gp-215	154	13	illiquidity	illiquidity	NOUN
gp-215	154	14	ratio	ratio	NOUN
gp-215	154	15	(	(	PUNCT
gp-215	154	16	illiq	illiq	ADV
gp-215	154	17	)	)	PUNCT
gp-215	154	18	this	this	DET
gp-215	154	19	juxtaposition	juxtaposition	NOUN
gp-215	154	20	between	between	ADP
gp-215	154	21	retailand	retailand	VERB
gp-215	154	22	institutional	institutional	ADJ
gp-215	154	23	-	-	PUNCT
gp-215	154	24	level	level	NOUN
gp-215	154	25	response	response	NOUN
gp-215	154	26	reinforces	reinforce	VERB
gp-215	154	27	the	the	DET
gp-215	154	28	effects	effect	NOUN
gp-215	154	29	of	of	ADP
gp-215	154	30	asymmetric	asymmetric	ADJ
gp-215	154	31	information	information	NOUN
gp-215	154	32	pervasive	pervasive	ADJ
gp-215	154	33	in	in	ADP
gp-215	154	34	emerging	emerge	VERB
gp-215	154	35	markets	market	NOUN
gp-215	154	36	(	(	PUNCT
gp-215	154	37	morck	morck	PROPN
gp-215	154	38	et	et	PROPN
gp-215	154	39	al	al	PROPN
gp-215	154	40	.	.	PROPN
gp-215	154	41	,	,	PUNCT
gp-215	154	42	2000	2000	NUM
gp-215	154	43	)	)	PUNCT
gp-215	154	44	.	.	PUNCT
gp-215	155	1	consistent	consistent	ADJ
gp-215	155	2	with	with	ADP
gp-215	155	3	india	india	PROPN
gp-215	155	4	's	's	PART
gp-215	155	5	niif	niif	PROPN
gp-215	155	6	(	(	PUNCT
gp-215	155	7	gupta	gupta	PROPN
gp-215	155	8	&	&	CCONJ
gp-215	155	9	sharma	sharma	PROPN
gp-215	155	10	,	,	PUNCT
gp-215	155	11	2023	2023	NUM
gp-215	155	12	)	)	PUNCT
gp-215	155	13	,	,	PUNCT
gp-215	155	14	indonesia	indonesia	PROPN
gp-215	155	15	's	's	PART
gp-215	155	16	market	market	NOUN
gp-215	155	17	-	-	PUNCT
gp-215	155	18	level	level	NOUN
gp-215	155	19	microstructure	microstructure	NOUN
gp-215	155	20	volatility	volatility	NOUN
gp-215	155	21	exceeded	exceed	VERB
gp-215	155	22	the	the	DET
gp-215	155	23	price	price	NOUN
gp-215	155	24	responses	response	NOUN
gp-215	155	25	;	;	PUNCT
gp-215	155	26	unlike	unlike	ADP
gp-215	155	27	in	in	ADP
gp-215	155	28	developed	develop	VERB
gp-215	155	29	markets	market	NOUN
gp-215	155	30	(	(	PUNCT
gp-215	155	31	e.g.	e.g.	ADJ
gp-215	155	32	,	,	PUNCT
gp-215	155	33	norway	norway	PROPN
gp-215	155	34	)	)	PUNCT
gp-215	155	35	where	where	SCONJ
gp-215	155	36	swf	swf	NOUN
gp-215	155	37	announcements	announcement	NOUN
gp-215	155	38	generate	generate	VERB
gp-215	155	39	immediate	immediate	ADJ
gp-215	155	40	institutional	institutional	ADJ
gp-215	155	41	rebalancing	rebalancing	NOUN
gp-215	155	42	(	(	PUNCT
gp-215	155	43	clark	clark	PROPN
gp-215	155	44	&	&	CCONJ
gp-215	155	45	monk	monk	PROPN
gp-215	155	46	,	,	PUNCT
gp-215	155	47	2017	2017	NUM
gp-215	155	48	)	)	PUNCT
gp-215	155	49	.	.	PUNCT
gp-215	156	1	this	this	PRON
gp-215	156	2	raises	raise	VERB
gp-215	156	3	questions	question	NOUN
gp-215	156	4	about	about	ADP
gp-215	156	5	the	the	DET
gp-215	156	6	extent	extent	NOUN
gp-215	156	7	to	to	PART
gp-215	156	8	which	which	PRON
gp-215	156	9	governance	governance	NOUN
gp-215	156	10	credibility	credibility	NOUN
gp-215	156	11	in	in	ADP
gp-215	156	12	indonesia	indonesia	PROPN
gp-215	156	13	is	be	AUX
gp-215	156	14	in	in	ADP
gp-215	156	15	need	need	NOUN
gp-215	156	16	of	of	ADP
gp-215	156	17	moderation	moderation	NOUN
gp-215	156	18	with	with	ADP
gp-215	156	19	respect	respect	NOUN
gp-215	156	20	to	to	ADP
gp-215	156	21	investors	investor	NOUN
gp-215	156	22	.	.	PUNCT
gp-215	157	1	hypothesis	hypothesis	NOUN
gp-215	157	2	testing	testing	NOUN
gp-215	157	3	summary	summary	NOUN
gp-215	157	4	the	the	DET
gp-215	157	5	hypothesis	hypothesis	NOUN
gp-215	157	6	testing	test	VERB
gp-215	157	7	outcomes	outcome	NOUN
gp-215	157	8	provide	provide	VERB
gp-215	157	9	a	a	DET
gp-215	157	10	complete	complete	ADJ
gp-215	157	11	picture	picture	NOUN
gp-215	157	12	of	of	ADP
gp-215	157	13	the	the	DET
gp-215	157	14	capital	capital	NOUN
gp-215	157	15	market	market	NOUN
gp-215	157	16	's	's	PART
gp-215	157	17	response	response	NOUN
gp-215	157	18	to	to	ADP
gp-215	157	19	the	the	DET
gp-215	157	20	announcement	announcement	NOUN
gp-215	157	21	of	of	ADP
gp-215	157	22	danantara	danantara	NOUN
gp-215	157	23	.	.	PUNCT
gp-215	158	1	all	all	DET
gp-215	158	2	hypotheses	hypothesis	NOUN
gp-215	158	3	were	be	AUX
gp-215	158	4	tested	test	VERB
gp-215	158	5	using	use	VERB
gp-215	158	6	a	a	DET
gp-215	158	7	combination	combination	NOUN
gp-215	158	8	of	of	ADP
gp-215	158	9	one	one	NUM
gp-215	158	10	sample	sample	NOUN
gp-215	158	11	and	and	CCONJ
gp-215	158	12	paired	pair	VERB
gp-215	158	13	sample	sample	NOUN
gp-215	158	14	t	t	NOUN
gp-215	158	15	-	-	PUNCT
gp-215	158	16	tests	test	NOUN
gp-215	158	17	(	(	PUNCT
gp-215	158	18	or	or	CCONJ
gp-215	158	19	non	non	ADJ
gp-215	158	20	-	-	ADJ
gp-215	158	21	parametric	parametric	ADJ
gp-215	158	22	alternatives	alternative	NOUN
gp-215	158	23	where	where	SCONJ
gp-215	158	24	applicable	applicable	ADJ
gp-215	158	25	)	)	PUNCT
gp-215	158	26	based	base	VERB
gp-215	158	27	on	on	ADP
gp-215	158	28	the	the	DET
gp-215	158	29	different	different	ADJ
gp-215	158	30	indicators	indicator	NOUN
gp-215	158	31	for	for	ADP
gp-215	158	32	our	our	PRON
gp-215	158	33	abnormal	abnormal	ADJ
gp-215	158	34	return	return	NOUN
gp-215	158	35	,	,	PUNCT
gp-215	158	36	trading	trading	NOUN
gp-215	158	37	activity	activity	NOUN
gp-215	158	38	,	,	PUNCT
gp-215	158	39	and	and	CCONJ
gp-215	158	40	liquidity	liquidity	NOUN
gp-215	158	41	.	.	PUNCT
gp-215	159	1	the	the	DET
gp-215	159	2	summary	summary	NOUN
gp-215	159	3	of	of	ADP
gp-215	159	4	the	the	DET
gp-215	159	5	hypotheses	hypothesis	NOUN
gp-215	159	6	results	result	NOUN
gp-215	159	7	is	be	AUX
gp-215	159	8	provided	provide	VERB
gp-215	159	9	in	in	ADP
gp-215	159	10	table	table	NOUN
gp-215	159	11	below	below	ADV
gp-215	159	12	.	.	PUNCT
gp-215	160	1	table	table	NOUN
gp-215	160	2	4	4	NUM
gp-215	160	3	.	.	X
gp-215	160	4	hypothesis	hypothesis	NOUN
gp-215	160	5	testing	testing	NOUN
gp-215	160	6	summary	summary	NOUN
gp-215	160	7	hypothesis	hypothesis	NOUN
gp-215	160	8	description	description	NOUN
gp-215	160	9	test	test	NOUN
gp-215	160	10	result	result	VERB
gp-215	160	11	support	support	NOUN
gp-215	160	12	h1	h1	VERB
gp-215	160	13	the	the	DET
gp-215	160	14	danantara	danantara	PROPN
gp-215	160	15	announcement	announcement	NOUN
gp-215	160	16	generated	generate	VERB
gp-215	160	17	significant	significant	ADJ
gp-215	160	18	abnormal	abnormal	ADJ
gp-215	160	19	return	return	NOUN
gp-215	160	20	(	(	PUNCT
gp-215	160	21	ar	ar	NOUN
gp-215	160	22	)	)	PUNCT
gp-215	160	23	.	.	PUNCT
gp-215	161	1	ar	ar	NOUN
gp-215	161	2	not	not	PART
gp-215	161	3	significant	significant	ADJ
gp-215	161	4	not	not	PART
gp-215	161	5	supported	support	VERB
gp-215	161	6	reni	reni	PROPN
gp-215	161	7	lestari	lestari	PROPN
gp-215	161	8	,	,	PUNCT
gp-215	161	9	lindsay	lindsay	PROPN
gp-215	161	10	carnelian	carnelian	PROPN
gp-215	161	11	emily	emily	PROPN
gp-215	161	12	399	399	NUM
gp-215	161	13	h2	h2	NOUN
gp-215	161	14	the	the	DET
gp-215	161	15	announcement	announcement	NOUN
gp-215	161	16	generated	generate	VERB
gp-215	161	17	significant	significant	ADJ
gp-215	161	18	cumulative	cumulative	ADJ
gp-215	161	19	abnormal	abnormal	ADJ
gp-215	161	20	return	return	NOUN
gp-215	161	21	(	(	PUNCT
gp-215	161	22	car	car	NOUN
gp-215	161	23	)	)	PUNCT
gp-215	161	24	.	.	PUNCT
gp-215	162	1	car	car	NOUN
gp-215	162	2	not	not	PART
gp-215	162	3	significant	significant	ADJ
gp-215	162	4	not	not	PART
gp-215	162	5	supported	support	VERB
gp-215	162	6	h3	h3	NOUN
gp-215	162	7	the	the	DET
gp-215	162	8	announcement	announcement	NOUN
gp-215	162	9	affected	affect	VERB
gp-215	162	10	abnormal	abnormal	ADJ
gp-215	162	11	trading	trading	NOUN
gp-215	162	12	volume	volume	NOUN
gp-215	162	13	(	(	PUNCT
gp-215	162	14	av	av	NOUN
gp-215	162	15	)	)	PUNCT
gp-215	162	16	.	.	PUNCT
gp-215	163	1	av	av	PROPN
gp-215	163	2	significant	significant	ADJ
gp-215	163	3	at	at	ADP
gp-215	163	4	market	market	NOUN
gp-215	163	5	level	level	NOUN
gp-215	163	6	only	only	ADV
gp-215	163	7	partially	partially	ADV
gp-215	163	8	supported	support	VERB
gp-215	163	9	h4	h4	NOUN
gp-215	163	10	the	the	DET
gp-215	163	11	announcement	announcement	NOUN
gp-215	163	12	affected	affect	VERB
gp-215	163	13	trading	trading	NOUN
gp-215	163	14	volume	volume	NOUN
gp-215	163	15	activity	activity	NOUN
gp-215	163	16	(	(	PUNCT
gp-215	163	17	tva	tva	PROPN
gp-215	163	18	)	)	PUNCT
gp-215	163	19	.	.	PUNCT
gp-215	164	1	tva	tva	PROPN
gp-215	164	2	significant	significant	ADJ
gp-215	164	3	(	(	PUNCT
gp-215	164	4	1sample	1sample	NUM
gp-215	164	5	)	)	PUNCT
gp-215	164	6	but	but	CCONJ
gp-215	164	7	not	not	PART
gp-215	164	8	sustained	sustain	VERB
gp-215	164	9	supported	support	VERB
gp-215	164	10	(	(	PUNCT
gp-215	164	11	short	short	ADJ
gp-215	164	12	-	-	PUNCT
gp-215	164	13	term	term	NOUN
gp-215	164	14	)	)	PUNCT
gp-215	164	15	h5	h5	VERB
gp-215	164	16	the	the	DET
gp-215	164	17	announcement	announcement	NOUN
gp-215	164	18	affected	affect	VERB
gp-215	164	19	market	market	NOUN
gp-215	164	20	liquidity	liquidity	NOUN
gp-215	164	21	(	(	PUNCT
gp-215	164	22	illiq	illiq	ADJ
gp-215	164	23	)	)	PUNCT
gp-215	164	24	.	.	PUNCT
gp-215	165	1	illiq	illiq	ADV
gp-215	165	2	significant	significant	ADJ
gp-215	165	3	(	(	PUNCT
gp-215	165	4	1sample	1sample	NUM
gp-215	165	5	)	)	PUNCT
gp-215	165	6	but	but	CCONJ
gp-215	165	7	not	not	PART
gp-215	165	8	sustained	sustain	VERB
gp-215	165	9	supported	support	VERB
gp-215	165	10	(	(	PUNCT
gp-215	165	11	short	short	ADJ
gp-215	165	12	-	-	PUNCT
gp-215	165	13	term	term	NOUN
gp-215	165	14	)	)	PUNCT
gp-215	165	15	price	price	NOUN
gp-215	165	16	-	-	PUNCT
gp-215	165	17	based	base	VERB
gp-215	165	18	indicators	indicator	NOUN
gp-215	165	19	(	(	PUNCT
gp-215	165	20	h1	h1	PROPN
gp-215	165	21	and	and	CCONJ
gp-215	165	22	h2	h2	NOUN
gp-215	165	23	)	)	PUNCT
gp-215	165	24	indicated	indicate	VERB
gp-215	165	25	no	no	DET
gp-215	165	26	statistically	statistically	ADV
gp-215	165	27	significant	significant	ADJ
gp-215	165	28	change	change	NOUN
gp-215	165	29	,	,	PUNCT
gp-215	165	30	indicating	indicate	VERB
gp-215	165	31	the	the	DET
gp-215	165	32	market	market	NOUN
gp-215	165	33	did	do	AUX
gp-215	165	34	not	not	PART
gp-215	165	35	revise	revise	VERB
gp-215	165	36	firm	firm	ADJ
gp-215	165	37	or	or	CCONJ
gp-215	165	38	market	market	NOUN
gp-215	165	39	valuations	valuation	NOUN
gp-215	165	40	in	in	ADP
gp-215	165	41	light	light	NOUN
gp-215	165	42	of	of	ADP
gp-215	165	43	the	the	DET
gp-215	165	44	announcement	announcement	NOUN
gp-215	165	45	.	.	PUNCT
gp-215	166	1	microstructure	microstructure	ADJ
gp-215	166	2	variables	variable	NOUN
gp-215	166	3	(	(	PUNCT
gp-215	166	4	h3	h3	NOUN
gp-215	166	5	–	–	PUNCT
gp-215	166	6	h5	h5	NOUN
gp-215	166	7	)	)	PUNCT
gp-215	166	8	showed	show	VERB
gp-215	166	9	behavioral	behavioral	ADJ
gp-215	166	10	responses	response	NOUN
gp-215	166	11	,	,	PUNCT
gp-215	166	12	such	such	ADJ
gp-215	166	13	as	as	ADP
gp-215	166	14	an	an	DET
gp-215	166	15	increase	increase	NOUN
gp-215	166	16	in	in	ADP
gp-215	166	17	trading	trading	NOUN
gp-215	166	18	intensity	intensity	NOUN
gp-215	166	19	and	and	CCONJ
gp-215	166	20	temporary	temporary	ADJ
gp-215	166	21	liquidity	liquidity	NOUN
gp-215	166	22	disruptions	disruption	NOUN
gp-215	166	23	at	at	ADP
gp-215	166	24	the	the	DET
gp-215	166	25	aggregate	aggregate	ADJ
gp-215	166	26	(	(	PUNCT
gp-215	166	27	market	market	NOUN
gp-215	166	28	)	)	PUNCT
gp-215	166	29	level	level	NOUN
gp-215	166	30	.	.	PUNCT
gp-215	167	1	these	these	DET
gp-215	167	2	findings	finding	NOUN
gp-215	167	3	affirmed	affirm	VERB
gp-215	167	4	that	that	SCONJ
gp-215	167	5	the	the	DET
gp-215	167	6	capital	capital	NOUN
gp-215	167	7	market	market	NOUN
gp-215	167	8	response	response	NOUN
gp-215	167	9	was	be	AUX
gp-215	167	10	short	short	ADV
gp-215	167	11	-	-	PUNCT
gp-215	167	12	lived	live	VERB
gp-215	167	13	,	,	PUNCT
gp-215	167	14	and	and	CCONJ
gp-215	167	15	rather	rather	ADV
gp-215	167	16	behavioral	behavioral	ADJ
gp-215	167	17	as	as	SCONJ
gp-215	167	18	opposed	oppose	VERB
gp-215	167	19	to	to	ADP
gp-215	167	20	a	a	DET
gp-215	167	21	fundamental	fundamental	ADJ
gp-215	167	22	revaluation	revaluation	NOUN
gp-215	167	23	the	the	DET
gp-215	167	24	mixed	mixed	ADJ
gp-215	167	25	support	support	NOUN
gp-215	167	26	for	for	ADP
gp-215	167	27	the	the	DET
gp-215	167	28	hypotheses	hypothesis	NOUN
gp-215	167	29	suggests	suggest	VERB
gp-215	167	30	it	it	PRON
gp-215	167	31	is	be	AUX
gp-215	167	32	important	important	ADJ
gp-215	167	33	to	to	PART
gp-215	167	34	examine	examine	VERB
gp-215	167	35	both	both	DET
gp-215	167	36	price	price	NOUN
gp-215	167	37	and	and	CCONJ
gp-215	167	38	structural	structural	ADJ
gp-215	167	39	dimensions	dimension	NOUN
gp-215	167	40	when	when	SCONJ
gp-215	167	41	assessing	assess	VERB
gp-215	167	42	market	market	NOUN
gp-215	167	43	response	response	NOUN
gp-215	167	44	to	to	ADP
gp-215	167	45	policy	policy	NOUN
gp-215	167	46	announcements	announcement	NOUN
gp-215	167	47	;	;	PUNCT
gp-215	167	48	and	and	CCONJ
gp-215	167	49	the	the	DET
gp-215	167	50	following	follow	VERB
gp-215	167	51	section	section	NOUN
gp-215	167	52	confirms	confirm	VERB
gp-215	167	53	these	these	DET
gp-215	167	54	findings	finding	NOUN
gp-215	167	55	in	in	ADP
gp-215	167	56	robustness	robustness	NOUN
gp-215	167	57	checks	check	NOUN
gp-215	167	58	.	.	PUNCT
gp-215	168	1	robustness	robustness	NOUN
gp-215	168	2	checks	check	NOUN
gp-215	168	3	to	to	PART
gp-215	168	4	examine	examine	VERB
gp-215	168	5	potential	potential	ADJ
gp-215	168	6	violations	violation	NOUN
gp-215	168	7	of	of	ADP
gp-215	168	8	normality	normality	NOUN
gp-215	168	9	assumptions	assumption	NOUN
gp-215	168	10	,	,	PUNCT
gp-215	168	11	we	we	PRON
gp-215	168	12	used	use	VERB
gp-215	168	13	non	non	ADJ
gp-215	168	14	-	-	ADJ
gp-215	168	15	parametric	parametric	ADJ
gp-215	168	16	wilcoxon	wilcoxon	PROPN
gp-215	168	17	signed	sign	VERB
gp-215	168	18	rank	rank	NOUN
gp-215	168	19	tests	test	NOUN
gp-215	168	20	as	as	ADP
gp-215	168	21	a	a	DET
gp-215	168	22	substitute	substitute	NOUN
gp-215	168	23	to	to	ADP
gp-215	168	24	the	the	DET
gp-215	168	25	one	one	NUM
gp-215	168	26	-	-	PUNCT
gp-215	168	27	sample	sample	NOUN
gp-215	168	28	and	and	CCONJ
gp-215	168	29	paired	pair	VERB
gp-215	168	30	sample	sample	NOUN
gp-215	168	31	t	t	NOUN
gp-215	168	32	-	-	PUNCT
gp-215	168	33	tests	test	NOUN
gp-215	168	34	for	for	ADP
gp-215	168	35	av	av	PROPN
gp-215	168	36	,	,	PUNCT
gp-215	168	37	tva	tva	PROPN
gp-215	168	38	and	and	CCONJ
gp-215	168	39	illiq	illiq	ADV
gp-215	168	40	,	,	PUNCT
gp-215	168	41	as	as	SCONJ
gp-215	168	42	the	the	DET
gp-215	168	43	shapiro	shapiro	PROPN
gp-215	168	44	-	-	PUNCT
gp-215	168	45	wilk	wilk	NOUN
gp-215	168	46	tests	test	NOUN
gp-215	168	47	suggested	suggest	VERB
gp-215	168	48	those	those	DET
gp-215	168	49	variables	variable	NOUN
gp-215	168	50	were	be	AUX
gp-215	168	51	not	not	PART
gp-215	168	52	normal	normal	ADJ
gp-215	168	53	.	.	PUNCT
gp-215	169	1	the	the	DET
gp-215	169	2	non	non	ADJ
gp-215	169	3	-	-	ADJ
gp-215	169	4	parametric	parametric	ADJ
gp-215	169	5	results	result	NOUN
gp-215	169	6	were	be	AUX
gp-215	169	7	quite	quite	ADV
gp-215	169	8	similar	similar	ADJ
gp-215	169	9	to	to	ADP
gp-215	169	10	the	the	DET
gp-215	169	11	original	original	ADJ
gp-215	169	12	results	result	NOUN
gp-215	169	13	:	:	PUNCT
gp-215	169	14	•	•	NUM
gp-215	169	15	tva	tva	PROPN
gp-215	169	16	and	and	CCONJ
gp-215	169	17	illiq	illiq	ADV
gp-215	169	18	were	be	AUX
gp-215	169	19	significantly	significantly	ADV
gp-215	169	20	different	different	ADJ
gp-215	169	21	from	from	ADP
gp-215	169	22	zero	zero	NUM
gp-215	169	23	within	within	ADP
gp-215	169	24	the	the	DET
gp-215	169	25	event	event	NOUN
gp-215	169	26	window	window	NOUN
gp-215	169	27	(	(	PUNCT
gp-215	169	28	p	p	X
gp-215	169	29	<	<	X
gp-215	169	30	0.05	0.05	NUM
gp-215	169	31	)	)	PUNCT
gp-215	169	32	•	•	NOUN
gp-215	169	33	however	however	ADV
gp-215	169	34	,	,	PUNCT
gp-215	169	35	there	there	PRON
gp-215	169	36	were	be	VERB
gp-215	169	37	no	no	DET
gp-215	169	38	significant	significant	ADJ
gp-215	169	39	differences	difference	NOUN
gp-215	169	40	in	in	ADP
gp-215	169	41	ar	ar	NOUN
gp-215	169	42	,	,	PUNCT
gp-215	169	43	car	car	NOUN
gp-215	169	44	,	,	PUNCT
gp-215	169	45	or	or	CCONJ
gp-215	169	46	post	post	ADJ
gp-215	169	47	-	-	ADJ
gp-215	169	48	event	event	ADJ
gp-215	169	49	tva	tva	PROPN
gp-215	169	50	/	/	SYM
gp-215	169	51	illiq	illiq	ADV
gp-215	169	52	.	.	PUNCT
gp-215	170	1	this	this	PRON
gp-215	170	2	assures	assure	VERB
gp-215	170	3	that	that	SCONJ
gp-215	170	4	the	the	DET
gp-215	170	5	statistical	statistical	ADJ
gp-215	170	6	significance	significance	NOUN
gp-215	170	7	of	of	ADP
gp-215	170	8	the	the	DET
gp-215	170	9	microstructure	microstructure	ADJ
gp-215	170	10	effects	effect	NOUN
gp-215	170	11	is	be	AUX
gp-215	170	12	robust	robust	ADJ
gp-215	170	13	to	to	ADP
gp-215	170	14	the	the	DET
gp-215	170	15	choice	choice	NOUN
gp-215	170	16	of	of	ADP
gp-215	170	17	test	test	NOUN
gp-215	170	18	statistic	statistic	NOUN
gp-215	170	19	.	.	PUNCT
gp-215	171	1	conclusion	conclusion	NOUN
gp-215	171	2	the	the	DET
gp-215	171	3	absence	absence	NOUN
gp-215	171	4	of	of	ADP
gp-215	171	5	meaningful	meaningful	ADJ
gp-215	171	6	abnormal	abnormal	ADJ
gp-215	171	7	returns	return	NOUN
gp-215	171	8	in	in	ADP
gp-215	171	9	response	response	NOUN
gp-215	171	10	to	to	ADP
gp-215	171	11	the	the	DET
gp-215	171	12	announcement	announcement	NOUN
gp-215	171	13	of	of	ADP
gp-215	171	14	danantara	danantara	NOUN
gp-215	171	15	aligns	align	VERB
gp-215	171	16	with	with	ADP
gp-215	171	17	the	the	DET
gp-215	171	18	pattern	pattern	NOUN
gp-215	171	19	observed	observe	VERB
gp-215	171	20	in	in	ADP
gp-215	171	21	many	many	ADJ
gp-215	171	22	emerging	emerge	VERB
gp-215	171	23	markets	market	NOUN
gp-215	171	24	,	,	PUNCT
gp-215	171	25	where	where	SCONJ
gp-215	171	26	investors	investor	NOUN
gp-215	171	27	tend	tend	VERB
gp-215	171	28	to	to	PART
gp-215	171	29	delay	delay	VERB
gp-215	171	30	revaluation	revaluation	NOUN
gp-215	171	31	until	until	SCONJ
gp-215	171	32	concrete	concrete	ADJ
gp-215	171	33	institutional	institutional	ADJ
gp-215	171	34	actions	action	NOUN
gp-215	171	35	—	—	PUNCT
gp-215	171	36	such	such	ADJ
gp-215	171	37	as	as	ADP
gp-215	171	38	capital	capital	NOUN
gp-215	171	39	deployment	deployment	NOUN
gp-215	171	40	or	or	CCONJ
gp-215	171	41	governance	governance	NOUN
gp-215	171	42	reform	reform	NOUN
gp-215	171	43	—	—	PUNCT
gp-215	171	44	take	take	VERB
gp-215	171	45	place	place	NOUN
gp-215	171	46	.	.	PUNCT
gp-215	172	1	the	the	DET
gp-215	172	2	market	market	NOUN
gp-215	172	3	's	's	PART
gp-215	172	4	muted	mute	VERB
gp-215	172	5	price	price	NOUN
gp-215	172	6	reaction	reaction	NOUN
gp-215	172	7	reflects	reflect	VERB
gp-215	172	8	a	a	DET
gp-215	172	9	broader	broad	ADJ
gp-215	172	10	skepticism	skepticism	NOUN
gp-215	172	11	toward	toward	ADP
gp-215	172	12	symbolic	symbolic	ADJ
gp-215	172	13	policy	policy	NOUN
gp-215	172	14	announcements	announcement	NOUN
gp-215	172	15	that	that	PRON
gp-215	172	16	lack	lack	VERB
gp-215	172	17	operational	operational	ADJ
gp-215	172	18	clarity	clarity	NOUN
gp-215	172	19	,	,	PUNCT
gp-215	172	20	especially	especially	ADV
gp-215	172	21	within	within	ADP
gp-215	172	22	environments	environment	NOUN
gp-215	172	23	characterized	characterize	VERB
gp-215	172	24	by	by	ADP
gp-215	172	25	limited	limited	ADJ
gp-215	172	26	transparency	transparency	NOUN
gp-215	172	27	and	and	CCONJ
gp-215	172	28	institutional	institutional	ADJ
gp-215	172	29	credibility	credibility	NOUN
gp-215	172	30	.	.	PUNCT
gp-215	173	1	however	however	ADV
gp-215	173	2	,	,	PUNCT
gp-215	173	3	the	the	DET
gp-215	173	4	significant	significant	ADJ
gp-215	173	5	spikes	spike	NOUN
gp-215	173	6	in	in	ADP
gp-215	173	7	trading	trading	NOUN
gp-215	173	8	volume	volume	NOUN
gp-215	173	9	activity	activity	NOUN
gp-215	173	10	and	and	CCONJ
gp-215	173	11	temporary	temporary	ADJ
gp-215	173	12	illiquidity	illiquidity	NOUN
gp-215	173	13	suggest	suggest	VERB
gp-215	173	14	that	that	SCONJ
gp-215	173	15	investors	investor	NOUN
gp-215	173	16	did	do	AUX
gp-215	173	17	react	react	VERB
gp-215	173	18	behaviorally	behaviorally	ADV
gp-215	173	19	,	,	PUNCT
gp-215	173	20	not	not	PART
gp-215	173	21	through	through	ADP
gp-215	173	22	price	price	NOUN
gp-215	173	23	adjustments	adjustment	NOUN
gp-215	173	24	but	but	CCONJ
gp-215	173	25	through	through	ADP
gp-215	173	26	short	short	ADJ
gp-215	173	27	-	-	PUNCT
gp-215	173	28	term	term	NOUN
gp-215	173	29	trading	trading	NOUN
gp-215	173	30	activity	activity	NOUN
gp-215	173	31	and	and	CCONJ
gp-215	173	32	liquidity	liquidity	NOUN
gp-215	173	33	shifts	shift	NOUN
gp-215	173	34	.	.	PUNCT
gp-215	174	1	this	this	PRON
gp-215	174	2	indicates	indicate	VERB
gp-215	174	3	that	that	SCONJ
gp-215	174	4	in	in	ADP
gp-215	174	5	contexts	context	NOUN
gp-215	174	6	with	with	ADP
gp-215	174	7	high	high	ADJ
gp-215	174	8	information	information	NOUN
gp-215	174	9	asymmetry	asymmetry	NOUN
gp-215	174	10	and	and	CCONJ
gp-215	174	11	dominant	dominant	ADJ
gp-215	174	12	retail	retail	ADJ
gp-215	174	13	participation	participation	NOUN
gp-215	174	14	,	,	PUNCT
gp-215	174	15	market	market	NOUN
gp-215	174	16	participants	participant	NOUN
gp-215	174	17	process	process	VERB
gp-215	174	18	policy	policy	NOUN
gp-215	174	19	uncertainty	uncertainty	NOUN
gp-215	174	20	more	more	ADV
gp-215	174	21	through	through	ADP
gp-215	174	22	microstructure	microstructure	ADJ
gp-215	174	23	channels	channel	NOUN
gp-215	174	24	than	than	ADP
gp-215	174	25	valuation	valuation	NOUN
gp-215	174	26	channels	channel	NOUN
gp-215	174	27	.	.	PUNCT
gp-215	175	1	it	it	PRON
gp-215	175	2	underscores	underscore	VERB
gp-215	175	3	the	the	DET
gp-215	175	4	importance	importance	NOUN
gp-215	175	5	of	of	ADP
gp-215	175	6	credible	credible	ADJ
gp-215	175	7	communication	communication	NOUN
gp-215	175	8	and	and	CCONJ
gp-215	175	9	visible	visible	ADJ
gp-215	175	10	policy	policy	NOUN
gp-215	175	11	execution	execution	NOUN
gp-215	175	12	in	in	ADP
gp-215	175	13	building	build	VERB
gp-215	175	14	market	market	NOUN
gp-215	175	15	confidence	confidence	NOUN
gp-215	175	16	.	.	PUNCT
gp-215	176	1	for	for	ADP
gp-215	176	2	future	future	ADJ
gp-215	176	3	research	research	NOUN
gp-215	176	4	,	,	PUNCT
gp-215	176	5	it	it	PRON
gp-215	176	6	is	be	AUX
gp-215	176	7	recommended	recommend	VERB
gp-215	176	8	to	to	PART
gp-215	176	9	explore	explore	VERB
gp-215	176	10	longerterm	longerterm	NOUN
gp-215	176	11	market	market	NOUN
gp-215	176	12	responses	response	NOUN
gp-215	176	13	once	once	SCONJ
gp-215	176	14	swf	swf	NOUN
gp-215	176	15	policies	policy	NOUN
gp-215	176	16	move	move	VERB
gp-215	176	17	from	from	ADP
gp-215	176	18	announcement	announcement	NOUN
gp-215	176	19	to	to	ADP
gp-215	176	20	implementation	implementation	NOUN
gp-215	176	21	.	.	PUNCT
gp-215	177	1	additionally	additionally	ADV
gp-215	177	2	,	,	PUNCT
gp-215	177	3	comparative	comparative	ADJ
gp-215	177	4	studies	study	NOUN
gp-215	177	5	across	across	ADP
gp-215	177	6	different	different	ADJ
gp-215	177	7	emerging	emerge	VERB
gp-215	177	8	markets	market	NOUN
gp-215	177	9	can	can	AUX
gp-215	177	10	offer	offer	VERB
gp-215	177	11	insights	insight	NOUN
gp-215	177	12	into	into	ADP
gp-215	177	13	how	how	SCONJ
gp-215	177	14	institutional	institutional	ADJ
gp-215	177	15	trust	trust	NOUN
gp-215	177	16	,	,	PUNCT
gp-215	177	17	investor	investor	NOUN
gp-215	177	18	composition	composition	NOUN
gp-215	177	19	,	,	PUNCT
gp-215	177	20	and	and	CCONJ
gp-215	177	21	governance	governance	NOUN
gp-215	177	22	quality	quality	NOUN
gp-215	177	23	influence	influence	NOUN
gp-215	177	24	market	market	NOUN
gp-215	177	25	sensitivity	sensitivity	NOUN
gp-215	177	26	to	to	PART
gp-215	177	27	sovereign	sovereign	VERB
gp-215	177	28	wealth	wealth	NOUN
gp-215	177	29	fund	fund	NOUN
gp-215	177	30	formation	formation	NOUN
gp-215	177	31	and	and	CCONJ
gp-215	177	32	other	other	ADJ
gp-215	177	33	macro	macro	ADJ
gp-215	177	34	-	-	ADJ
gp-215	177	35	institutional	institutional	ADJ
gp-215	177	36	reforms	reform	NOUN
gp-215	177	37	.	.	PUNCT
gp-215	178	1	american	american	ADJ
gp-215	178	2	journal	journal	PROPN
gp-215	178	3	of	of	ADP
gp-215	178	4	economic	economic	ADJ
gp-215	178	5	and	and	CCONJ
gp-215	178	6	management	management	NOUN
gp-215	178	7	business	business	NOUN
gp-215	178	8	vol	vol	NOUN
gp-215	178	9	.	.	PROPN
gp-215	179	1	4	4	NUM
gp-215	179	2	no	no	NOUN
gp-215	179	3	.	.	NOUN
gp-215	179	4	5	5	NUM
gp-215	179	5	may	may	AUX
gp-215	179	6	2025	2025	NUM
gp-215	179	7	400	400	NUM
gp-215	179	8	references	reference	NOUN
gp-215	179	9	(	(	PUNCT
gp-215	179	10	imf	imf	PROPN
gp-215	179	11	)	)	PUNCT
gp-215	179	12	,	,	PUNCT
gp-215	179	13	i.	i.	PROPN
gp-215	179	14	m.	m.	PROPN
gp-215	179	15	f.	f.	PROPN
gp-215	179	16	(	(	PUNCT
gp-215	179	17	2022	2022	NUM
gp-215	179	18	)	)	PUNCT
gp-215	179	19	.	.	PUNCT
gp-215	180	1	sovereign	sovereign	ADJ
gp-215	180	2	wealth	wealth	NOUN
gp-215	180	3	funds	fund	NOUN
gp-215	180	4	:	:	PUNCT
gp-215	180	5	governance	governance	NOUN
gp-215	180	6	and	and	CCONJ
gp-215	180	7	transparency	transparency	NOUN
gp-215	180	8	benchmark	benchmark	NOUN
gp-215	180	9	.	.	PUNCT
gp-215	181	1	https://www.imf.org/en/publications/wp/issues/2022/10/14/sovereign-wealth-fundsgovernance-and-transparency-524222	https://www.imf.org/en/publications/wp/issues/2022/10/14/sovereign-wealth-fundsgovernance-and-transparency-524222	NOUN
gp-215	181	2	(	(	PUNCT
gp-215	181	3	imf	imf	PROPN
gp-215	181	4	)	)	PUNCT
gp-215	181	5	,	,	PUNCT
gp-215	181	6	i.	i.	PROPN
gp-215	181	7	m.	m.	PROPN
gp-215	181	8	f.	f.	PROPN
gp-215	181	9	(	(	PUNCT
gp-215	181	10	2023	2023	NUM
gp-215	181	11	)	)	PUNCT
gp-215	181	12	.	.	PUNCT
gp-215	182	1	global	global	ADJ
gp-215	182	2	financial	financial	ADJ
gp-215	182	3	stability	stability	NOUN
gp-215	182	4	report	report	NOUN
gp-215	182	5	.	.	PUNCT
gp-215	183	1	https://www.imf.org/en/publications/gfsr	https://www.imf.org/en/publications/gfsr	PROPN
gp-215	183	2	amihud	amihud	PROPN
gp-215	183	3	,	,	PUNCT
gp-215	183	4	y.	y.	PROPN
gp-215	183	5	(	(	PUNCT
gp-215	183	6	2002	2002	NUM
gp-215	183	7	)	)	PUNCT
gp-215	183	8	.	.	PUNCT
gp-215	184	1	illiquidity	illiquidity	NOUN
gp-215	184	2	and	and	CCONJ
gp-215	184	3	stock	stock	NOUN
gp-215	184	4	returns	return	NOUN
gp-215	184	5	:	:	PUNCT
gp-215	184	6	cross	cross	NOUN
gp-215	184	7	-	-	NOUN
gp-215	184	8	section	section	NOUN
gp-215	184	9	and	and	CCONJ
gp-215	184	10	time	time	NOUN
gp-215	184	11	-	-	PUNCT
gp-215	184	12	series	series	NOUN
gp-215	184	13	effects	effect	NOUN
gp-215	184	14	.	.	PUNCT
gp-215	185	1	journal	journal	NOUN
gp-215	185	2	of	of	ADP
gp-215	185	3	financial	financial	ADJ
gp-215	185	4	markets	market	NOUN
gp-215	185	5	,	,	PUNCT
gp-215	185	6	5((1	5((1	NUM
gp-215	185	7	)	)	PUNCT
gp-215	185	8	)	)	PUNCT
gp-215	185	9	,	,	PUNCT
gp-215	185	10	31–56	31–56	NUM
gp-215	185	11	.	.	PUNCT
gp-215	186	1	https://doi.org/https://doi.org/10.1016/s13864181(01)00024-6	https://doi.org/https://doi.org/10.1016/s13864181(01)00024-6	PROPN
gp-215	186	2	amihud	amihud	PROPN
gp-215	186	3	,	,	PUNCT
gp-215	186	4	y.	y.	PROPN
gp-215	186	5	,	,	PUNCT
gp-215	186	6	mendelson	mendelson	PROPN
gp-215	186	7	,	,	PUNCT
gp-215	186	8	h.	h.	PROPN
gp-215	186	9	,	,	PUNCT
gp-215	186	10	&	&	CCONJ
gp-215	186	11	pedersen	pedersen	PROPN
gp-215	186	12	,	,	PUNCT
gp-215	186	13	l.	l.	PROPN
gp-215	186	14	h.	h.	PROPN
gp-215	186	15	(	(	PUNCT
gp-215	186	16	2015	2015	NUM
gp-215	186	17	)	)	PUNCT
gp-215	186	18	.	.	PUNCT
gp-215	187	1	market	market	NOUN
gp-215	187	2	liquidity	liquidity	NOUN
gp-215	187	3	and	and	CCONJ
gp-215	187	4	asset	asset	NOUN
gp-215	187	5	prices	price	NOUN
gp-215	187	6	:	:	PUNCT
gp-215	187	7	a	a	DET
gp-215	187	8	survey	survey	NOUN
gp-215	187	9	of	of	ADP
gp-215	187	10	recent	recent	ADJ
gp-215	187	11	literature	literature	NOUN
gp-215	187	12	.	.	PUNCT
gp-215	188	1	annual	annual	ADJ
gp-215	188	2	review	review	NOUN
gp-215	188	3	of	of	ADP
gp-215	188	4	financial	financial	ADJ
gp-215	188	5	economics	economic	NOUN
gp-215	188	6	,	,	PUNCT
gp-215	188	7	7	7	NUM
gp-215	188	8	,	,	PUNCT
gp-215	188	9	375–401	375–401	NUM
gp-215	188	10	.	.	PUNCT
gp-215	189	1	https://doi.org/10.1146/annurev-financial-092214-043930	https://doi.org/10.1146/annurev-financial-092214-043930	PROPN
gp-215	189	2	baker	baker	PROPN
gp-215	189	3	,	,	PUNCT
gp-215	189	4	m.	m.	NOUN
gp-215	189	5	,	,	PUNCT
gp-215	189	6	bloom	bloom	NOUN
gp-215	189	7	,	,	PUNCT
gp-215	189	8	n.	n.	NOUN
gp-215	189	9	,	,	PUNCT
gp-215	189	10	&	&	CCONJ
gp-215	189	11	davis	davis	PROPN
gp-215	189	12	,	,	PUNCT
gp-215	189	13	s.	s.	PROPN
gp-215	189	14	j.	j.	PROPN
gp-215	189	15	(	(	PUNCT
gp-215	189	16	2016	2016	NUM
gp-215	189	17	)	)	PUNCT
gp-215	189	18	.	.	PUNCT
gp-215	190	1	measuring	measure	VERB
gp-215	190	2	economic	economic	ADJ
gp-215	190	3	policy	policy	NOUN
gp-215	190	4	uncertainty	uncertainty	NOUN
gp-215	190	5	.	.	PUNCT
gp-215	191	1	the	the	DET
gp-215	191	2	quarterly	quarterly	ADJ
gp-215	191	3	journal	journal	NOUN
gp-215	191	4	of	of	ADP
gp-215	191	5	economics	economic	NOUN
gp-215	191	6	,	,	PUNCT
gp-215	191	7	131(4	131(4	NUM
gp-215	191	8	)	)	PUNCT
gp-215	191	9	,	,	PUNCT
gp-215	191	10	1593–1636	1593–1636	NUM
gp-215	191	11	.	.	PUNCT
gp-215	192	1	https://doi.org/10.1093/qje/qjw024	https://doi.org/10.1093/qje/qjw024	PROPN
gp-215	192	2	barber	barber	PROPN
gp-215	192	3	,	,	PUNCT
gp-215	192	4	b.	b.	PROPN
gp-215	192	5	m.	m.	PROPN
gp-215	192	6	,	,	PUNCT
gp-215	192	7	&	&	CCONJ
gp-215	192	8	odean	odean	ADJ
gp-215	192	9	,	,	PUNCT
gp-215	192	10	t.	t.	PROPN
gp-215	192	11	(	(	PUNCT
gp-215	192	12	2008	2008	NUM
gp-215	192	13	)	)	PUNCT
gp-215	192	14	.	.	PUNCT
gp-215	193	1	all	all	DET
gp-215	193	2	that	that	PRON
gp-215	193	3	glitters	glitter	NOUN
gp-215	193	4	:	:	PUNCT
gp-215	193	5	the	the	DET
gp-215	193	6	effect	effect	NOUN
gp-215	193	7	of	of	ADP
gp-215	193	8	attention	attention	NOUN
gp-215	193	9	and	and	CCONJ
gp-215	193	10	news	news	NOUN
gp-215	193	11	on	on	ADP
gp-215	193	12	the	the	DET
gp-215	193	13	buying	buying	NOUN
gp-215	193	14	behavior	behavior	NOUN
gp-215	193	15	of	of	ADP
gp-215	193	16	individual	individual	ADJ
gp-215	193	17	and	and	CCONJ
gp-215	193	18	institutional	institutional	ADJ
gp-215	193	19	investors	investor	NOUN
gp-215	193	20	.	.	PUNCT
gp-215	194	1	review	review	NOUN
gp-215	194	2	of	of	ADP
gp-215	194	3	financial	financial	ADJ
gp-215	194	4	studies	study	NOUN
gp-215	194	5	,	,	PUNCT
gp-215	194	6	21(2	21(2	NUM
gp-215	194	7	)	)	PUNCT
gp-215	194	8	,	,	PUNCT
gp-215	195	1	785–818	785–818	NUM
gp-215	195	2	.	.	PUNCT
gp-215	196	1	https://doi.org/10.1093/rfs/hhm079	https://doi.org/10.1093/rfs/hhm079	PROPN
gp-215	196	2	bartram	bartram	PROPN
gp-215	196	3	,	,	PUNCT
gp-215	196	4	s.	s.	PROPN
gp-215	196	5	m.	m.	PROPN
gp-215	196	6	,	,	PUNCT
gp-215	196	7	bodnar	bodnar	PROPN
gp-215	196	8	,	,	PUNCT
gp-215	196	9	g.	g.	PROPN
gp-215	196	10	m.	m.	PROPN
gp-215	196	11	,	,	PUNCT
gp-215	196	12	&	&	CCONJ
gp-215	196	13	marston	marston	PROPN
gp-215	196	14	,	,	PUNCT
gp-215	196	15	r.	r.	PROPN
gp-215	196	16	c.	c.	PROPN
gp-215	196	17	(	(	PUNCT
gp-215	196	18	2021	2021	NUM
gp-215	196	19	)	)	PUNCT
gp-215	196	20	.	.	PUNCT
gp-215	197	1	cross	cross	ADJ
gp-215	197	2	-	-	ADJ
gp-215	197	3	border	border	ADJ
gp-215	197	4	investment	investment	NOUN
gp-215	197	5	with	with	ADP
gp-215	197	6	sovereign	sovereign	ADJ
gp-215	197	7	wealth	wealth	NOUN
gp-215	197	8	funds	fund	NOUN
gp-215	197	9	:	:	PUNCT
gp-215	197	10	the	the	DET
gp-215	197	11	role	role	NOUN
gp-215	197	12	of	of	ADP
gp-215	197	13	transparency	transparency	NOUN
gp-215	197	14	.	.	PUNCT
gp-215	198	1	journal	journal	NOUN
gp-215	198	2	of	of	ADP
gp-215	198	3	corporate	corporate	ADJ
gp-215	198	4	finance	finance	NOUN
gp-215	198	5	,	,	PUNCT
gp-215	198	6	66	66	NUM
gp-215	198	7	,	,	PUNCT
gp-215	198	8	101814	101814	NUM
gp-215	198	9	.	.	PUNCT
gp-215	199	1	https://doi.org/10.1016/j.jcorpfin.2020.101814	https://doi.org/10.1016/j.jcorpfin.2020.101814	ADJ
gp-215	199	2	bekaert	bekaert	NOUN
gp-215	199	3	,	,	PUNCT
gp-215	199	4	g.	g.	PROPN
gp-215	199	5	,	,	PUNCT
gp-215	199	6	harvey	harvey	PROPN
gp-215	199	7	,	,	PUNCT
gp-215	199	8	c.	c.	PROPN
gp-215	199	9	r.	r.	PROPN
gp-215	199	10	,	,	PUNCT
gp-215	199	11	&	&	CCONJ
gp-215	199	12	lundblad	lundblad	PROPN
gp-215	199	13	,	,	PUNCT
gp-215	199	14	c.	c.	PROPN
gp-215	199	15	(	(	PUNCT
gp-215	199	16	2003	2003	NUM
gp-215	199	17	)	)	PUNCT
gp-215	199	18	.	.	PUNCT
gp-215	200	1	equity	equity	NOUN
gp-215	200	2	market	market	NOUN
gp-215	200	3	liberalization	liberalization	NOUN
gp-215	200	4	in	in	ADP
gp-215	200	5	emerging	emerge	VERB
gp-215	200	6	markets	market	NOUN
gp-215	200	7	.	.	PUNCT
gp-215	201	1	journal	journal	NOUN
gp-215	201	2	of	of	ADP
gp-215	201	3	financial	financial	ADJ
gp-215	201	4	research	research	NOUN
gp-215	201	5	,	,	PUNCT
gp-215	201	6	26(3	26(3	NUM
gp-215	201	7	)	)	PUNCT
gp-215	201	8	,	,	PUNCT
gp-215	201	9	275–299	275–299	NUM
gp-215	201	10	.	.	PROPN
gp-215	201	11	https://doi.org/10.1111/14756803.00064	https://doi.org/10.1111/14756803.00064	PROPN
gp-215	201	12	bortolotti	bortolotti	PROPN
gp-215	201	13	,	,	PUNCT
gp-215	201	14	b.	b.	PROPN
gp-215	201	15	,	,	PUNCT
gp-215	201	16	fotak	fotak	PROPN
gp-215	201	17	,	,	PUNCT
gp-215	201	18	v.	v.	PROPN
gp-215	201	19	,	,	PUNCT
gp-215	201	20	megginson	megginson	PROPN
gp-215	201	21	,	,	PUNCT
gp-215	201	22	w.	w.	PROPN
gp-215	201	23	l.	l.	PROPN
gp-215	201	24	,	,	PUNCT
gp-215	201	25	&	&	CCONJ
gp-215	201	26	miracky	miracky	PROPN
gp-215	201	27	,	,	PUNCT
gp-215	201	28	w.	w.	PROPN
gp-215	201	29	f.	f.	PROPN
gp-215	201	30	(	(	PUNCT
gp-215	201	31	2015	2015	NUM
gp-215	201	32	)	)	PUNCT
gp-215	201	33	.	.	PUNCT
gp-215	202	1	sovereign	sovereign	ADJ
gp-215	202	2	wealth	wealth	NOUN
gp-215	202	3	fund	fund	NOUN
gp-215	202	4	investment	investment	NOUN
gp-215	202	5	patterns	pattern	NOUN
gp-215	202	6	and	and	CCONJ
gp-215	202	7	performance	performance	NOUN
gp-215	202	8	.	.	PUNCT
gp-215	203	1	journal	journal	NOUN
gp-215	203	2	of	of	ADP
gp-215	203	3	financial	financial	ADJ
gp-215	203	4	intermediation	intermediation	NOUN
gp-215	203	5	,	,	PUNCT
gp-215	203	6	24(1	24(1	NUM
gp-215	203	7	)	)	PUNCT
gp-215	203	8	,	,	PUNCT
gp-215	203	9	1–24	1–24	PROPN
gp-215	203	10	.	.	PUNCT
gp-215	204	1	https://doi.org/10.1016/j.jfi.2013.11.001	https://doi.org/10.1016/j.jfi.2013.11.001	PROPN
gp-215	204	2	brown	brown	PROPN
gp-215	204	3	,	,	PUNCT
gp-215	204	4	s.	s.	PROPN
gp-215	204	5	j.	j.	PROPN
gp-215	204	6	,	,	PUNCT
gp-215	204	7	&	&	CCONJ
gp-215	204	8	warner	warner	PROPN
gp-215	204	9	,	,	PUNCT
gp-215	204	10	j.	j.	PROPN
gp-215	204	11	b.	b.	PROPN
gp-215	204	12	(	(	PUNCT
gp-215	204	13	1985	1985	NUM
gp-215	204	14	)	)	PUNCT
gp-215	204	15	.	.	PUNCT
gp-215	205	1	using	use	VERB
gp-215	205	2	daily	daily	ADJ
gp-215	205	3	stock	stock	NOUN
gp-215	205	4	returns	return	NOUN
gp-215	205	5	:	:	PUNCT
gp-215	205	6	the	the	DET
gp-215	205	7	case	case	NOUN
gp-215	205	8	of	of	ADP
gp-215	205	9	event	event	NOUN
gp-215	205	10	studies	study	NOUN
gp-215	205	11	.	.	PUNCT
gp-215	206	1	journal	journal	PROPN
gp-215	206	2	of	of	ADP
gp-215	206	3	financial	financial	ADJ
gp-215	206	4	economics	economic	NOUN
gp-215	206	5	,	,	PUNCT
gp-215	206	6	14(1	14(1	NUM
gp-215	206	7	)	)	PUNCT
gp-215	206	8	,	,	PUNCT
gp-215	206	9	3–31	3–31	PROPN
gp-215	206	10	.	.	PUNCT
gp-215	207	1	https://doi.org/10.1016/0304-405x(85)90042-x	https://doi.org/10.1016/0304-405x(85)90042-x	NOUN
gp-215	207	2	chordia	chordia	NOUN
gp-215	207	3	,	,	PUNCT
gp-215	207	4	t.	t.	NOUN
gp-215	207	5	,	,	PUNCT
gp-215	207	6	roll	roll	PROPN
gp-215	207	7	,	,	PUNCT
gp-215	207	8	r.	r.	PROPN
gp-215	207	9	,	,	PUNCT
gp-215	207	10	&	&	CCONJ
gp-215	207	11	subrahmanyam	subrahmanyam	PROPN
gp-215	207	12	,	,	PUNCT
gp-215	207	13	a.	a.	NOUN
gp-215	207	14	(	(	PUNCT
gp-215	207	15	2005	2005	NUM
gp-215	207	16	)	)	PUNCT
gp-215	207	17	.	.	PUNCT
gp-215	208	1	evidence	evidence	NOUN
gp-215	208	2	on	on	ADP
gp-215	208	3	the	the	DET
gp-215	208	4	speed	speed	NOUN
gp-215	208	5	of	of	ADP
gp-215	208	6	convergence	convergence	NOUN
gp-215	208	7	to	to	ADP
gp-215	208	8	market	market	NOUN
gp-215	208	9	efficiency	efficiency	NOUN
gp-215	208	10	.	.	PUNCT
gp-215	209	1	journal	journal	NOUN
gp-215	209	2	of	of	ADP
gp-215	209	3	financial	financial	ADJ
gp-215	209	4	economics	economic	NOUN
gp-215	209	5	,	,	PUNCT
gp-215	209	6	76(2	76(2	NUM
gp-215	209	7	)	)	PUNCT
gp-215	209	8	,	,	PUNCT
gp-215	209	9	271–292	271–292	NUM
gp-215	209	10	.	.	PUNCT
gp-215	210	1	https://doi.org/10.1016/j.jfineco.2004.06.003	https://doi.org/10.1016/j.jfineco.2004.06.003	PROPN
gp-215	210	2	clark	clark	PROPN
gp-215	210	3	,	,	PUNCT
gp-215	210	4	g.	g.	PROPN
gp-215	210	5	l.	l.	PROPN
gp-215	210	6	,	,	PUNCT
gp-215	210	7	&	&	CCONJ
gp-215	210	8	monk	monk	PROPN
gp-215	210	9	,	,	PUNCT
gp-215	210	10	a.	a.	PROPN
gp-215	210	11	h.	h.	PROPN
gp-215	210	12	b.	b.	PROPN
gp-215	210	13	(	(	PUNCT
gp-215	210	14	2017	2017	NUM
gp-215	210	15	)	)	PUNCT
gp-215	210	16	.	.	PUNCT
gp-215	211	1	the	the	DET
gp-215	211	2	norwegian	norwegian	ADJ
gp-215	211	3	government	government	NOUN
gp-215	211	4	pension	pension	NOUN
gp-215	211	5	fund	fund	NOUN
gp-215	211	6	global	global	NOUN
gp-215	211	7	:	:	PUNCT
gp-215	211	8	the	the	DET
gp-215	211	9	governance	governance	NOUN
gp-215	211	10	model	model	NOUN
gp-215	211	11	.	.	PUNCT
gp-215	212	1	journal	journal	PROPN
gp-215	212	2	of	of	ADP
gp-215	212	3	investment	investment	NOUN
gp-215	212	4	management	management	NOUN
gp-215	212	5	,	,	PUNCT
gp-215	212	6	15(1	15(1	NUM
gp-215	212	7	)	)	PUNCT
gp-215	212	8	,	,	PUNCT
gp-215	212	9	45–66	45–66	NUM
gp-215	212	10	.	.	PUNCT
gp-215	213	1	https://www.joim.com/abstract/1211/	https://www.joim.com/abstract/1211/	PROPN
gp-215	213	2	dewangan	dewangan	PROPN
gp-215	213	3	,	,	PUNCT
gp-215	213	4	m.	m.	NOUN
gp-215	213	5	,	,	PUNCT
gp-215	213	6	&	&	CCONJ
gp-215	213	7	patel	patel	PROPN
gp-215	213	8	,	,	PUNCT
gp-215	213	9	a.	a.	NOUN
gp-215	213	10	(	(	PUNCT
gp-215	213	11	2024	2024	NUM
gp-215	213	12	)	)	PUNCT
gp-215	213	13	.	.	PUNCT
gp-215	214	1	dual	dual	ADJ
gp-215	214	2	-	-	PUNCT
gp-215	214	3	event	event	NOUN
gp-215	214	4	approaches	approach	NOUN
gp-215	214	5	in	in	ADP
gp-215	214	6	emerging	emerge	VERB
gp-215	214	7	capital	capital	NOUN
gp-215	214	8	markets	market	NOUN
gp-215	214	9	:	:	PUNCT
gp-215	214	10	methodological	methodological	ADJ
gp-215	214	11	advances	advance	NOUN
gp-215	214	12	.	.	PUNCT
gp-215	215	1	dewenter	dewenter	PROPN
gp-215	215	2	,	,	PUNCT
gp-215	215	3	k.	k.	PROPN
gp-215	215	4	l.	l.	PROPN
gp-215	215	5	,	,	PUNCT
gp-215	215	6	han	han	PROPN
gp-215	215	7	,	,	PUNCT
gp-215	215	8	x.	x.	NOUN
gp-215	215	9	,	,	PUNCT
gp-215	215	10	&	&	CCONJ
gp-215	215	11	malatesta	malatesta	PROPN
gp-215	215	12	,	,	PUNCT
gp-215	215	13	p.	p.	NOUN
gp-215	215	14	h.	h.	PROPN
gp-215	216	1	(	(	PUNCT
gp-215	216	2	2010	2010	NUM
gp-215	216	3	)	)	PUNCT
gp-215	216	4	.	.	PUNCT
gp-215	217	1	firm	firm	ADJ
gp-215	217	2	values	value	NOUN
gp-215	217	3	and	and	CCONJ
gp-215	217	4	sovereign	sovereign	ADJ
gp-215	217	5	wealth	wealth	NOUN
gp-215	217	6	fund	fund	NOUN
gp-215	217	7	investments	investment	NOUN
gp-215	217	8	.	.	PUNCT
gp-215	218	1	journal	journal	NOUN
gp-215	218	2	of	of	ADP
gp-215	218	3	financial	financial	ADJ
gp-215	218	4	economics	economic	NOUN
gp-215	218	5	,	,	PUNCT
gp-215	218	6	98(2	98(2	NOUN
gp-215	218	7	)	)	PUNCT
gp-215	218	8	,	,	PUNCT
gp-215	218	9	256–278	256–278	NUM
gp-215	218	10	.	.	PUNCT
gp-215	219	1	https://doi.org/10.1016/j.jfineco.2010.06.010	https://doi.org/10.1016/j.jfineco.2010.06.010	NOUN
gp-215	219	2	fama	fama	PROPN
gp-215	219	3	,	,	PUNCT
gp-215	219	4	e.	e.	PROPN
gp-215	219	5	f.	f.	PROPN
gp-215	219	6	(	(	PUNCT
gp-215	219	7	1970	1970	NUM
gp-215	219	8	)	)	PUNCT
gp-215	219	9	.	.	PUNCT
gp-215	220	1	efficient	efficient	ADJ
gp-215	220	2	capital	capital	NOUN
gp-215	220	3	markets	market	NOUN
gp-215	220	4	:	:	PUNCT
gp-215	220	5	a	a	DET
gp-215	220	6	review	review	NOUN
gp-215	220	7	of	of	ADP
gp-215	220	8	theory	theory	NOUN
gp-215	220	9	and	and	CCONJ
gp-215	220	10	empirical	empirical	ADJ
gp-215	220	11	work	work	NOUN
gp-215	220	12	.	.	PUNCT
gp-215	221	1	the	the	DET
gp-215	221	2	journal	journal	PROPN
gp-215	221	3	of	of	ADP
gp-215	221	4	finance	finance	NOUN
gp-215	221	5	,	,	PUNCT
gp-215	221	6	25(2	25(2	NUM
gp-215	221	7	)	)	PUNCT
gp-215	221	8	,	,	PUNCT
gp-215	221	9	383–417	383–417	NUM
gp-215	221	10	.	.	PUNCT
gp-215	222	1	https://doi.org/10.2307/2325486	https://doi.org/10.2307/2325486	PROPN
gp-215	222	2	fama	fama	PROPN
gp-215	222	3	,	,	PUNCT
gp-215	222	4	e.	e.	PROPN
gp-215	222	5	f.	f.	PROPN
gp-215	222	6	,	,	PUNCT
gp-215	222	7	fisher	fisher	PROPN
gp-215	222	8	,	,	PUNCT
gp-215	222	9	l.	l.	PROPN
gp-215	222	10	,	,	PUNCT
gp-215	222	11	jensen	jensen	PROPN
gp-215	222	12	,	,	PUNCT
gp-215	222	13	m.	m.	PROPN
gp-215	222	14	c.	c.	PROPN
gp-215	222	15	,	,	PUNCT
gp-215	222	16	&	&	CCONJ
gp-215	222	17	roll	roll	PROPN
gp-215	222	18	,	,	PUNCT
gp-215	222	19	r.	r.	PROPN
gp-215	222	20	(	(	PUNCT
gp-215	222	21	1969	1969	NUM
gp-215	222	22	)	)	PUNCT
gp-215	222	23	.	.	PUNCT
gp-215	223	1	the	the	DET
gp-215	223	2	adjustment	adjustment	NOUN
gp-215	223	3	of	of	ADP
gp-215	223	4	stock	stock	NOUN
gp-215	223	5	prices	price	NOUN
gp-215	223	6	to	to	ADP
gp-215	223	7	new	new	ADJ
gp-215	223	8	information	information	NOUN
gp-215	223	9	.	.	PUNCT
gp-215	224	1	international	international	ADJ
gp-215	224	2	economic	economic	ADJ
gp-215	224	3	review	review	NOUN
gp-215	224	4	,	,	PUNCT
gp-215	224	5	10(1	10(1	NUM
gp-215	224	6	)	)	PUNCT
gp-215	224	7	,	,	PUNCT
gp-215	224	8	1–21	1–21	PROPN
gp-215	224	9	.	.	PUNCT
gp-215	225	1	https://doi.org/10.2307/2525569	https://doi.org/10.2307/2525569	PROPN
gp-215	225	2	reni	reni	PROPN
gp-215	225	3	lestari	lestari	PROPN
gp-215	225	4	,	,	PUNCT
gp-215	225	5	lindsay	lindsay	PROPN
gp-215	225	6	carnelian	carnelian	PROPN
gp-215	225	7	emily	emily	PROPN
gp-215	225	8	401	401	NUM
gp-215	225	9	fernandes	fernande	NOUN
gp-215	225	10	,	,	PUNCT
gp-215	225	11	n.	n.	NOUN
gp-215	225	12	(	(	PUNCT
gp-215	225	13	2014	2014	NUM
gp-215	225	14	)	)	PUNCT
gp-215	225	15	.	.	PUNCT
gp-215	226	1	the	the	DET
gp-215	226	2	impact	impact	NOUN
gp-215	226	3	of	of	ADP
gp-215	226	4	sovereign	sovereign	ADJ
gp-215	226	5	wealth	wealth	NOUN
gp-215	226	6	funds	fund	NOUN
gp-215	226	7	on	on	ADP
gp-215	226	8	corporate	corporate	ADJ
gp-215	226	9	governance	governance	NOUN
gp-215	226	10	and	and	CCONJ
gp-215	226	11	performance	performance	NOUN
gp-215	226	12	.	.	PUNCT
gp-215	227	1	journal	journal	NOUN
gp-215	227	2	of	of	ADP
gp-215	227	3	applied	apply	VERB
gp-215	227	4	corporate	corporate	ADJ
gp-215	227	5	finance	finance	NOUN
gp-215	227	6	,	,	PUNCT
gp-215	227	7	26(4	26(4	NUM
gp-215	227	8	)	)	PUNCT
gp-215	227	9	,	,	PUNCT
gp-215	227	10	76–84	76–84	NOUN
gp-215	227	11	.	.	PUNCT
gp-215	228	1	https://doi.org/10.1111/jacf.12087	https://doi.org/10.1111/jacf.12087	NOUN
gp-215	228	2	fernandes	fernande	NOUN
gp-215	228	3	,	,	PUNCT
gp-215	228	4	n.	n.	NOUN
gp-215	228	5	,	,	PUNCT
gp-215	228	6	&	&	CCONJ
gp-215	228	7	ferreira	ferreira	PROPN
gp-215	228	8	,	,	PUNCT
gp-215	228	9	m.	m.	NOUN
gp-215	228	10	a.	a.	PROPN
gp-215	228	11	(	(	PUNCT
gp-215	228	12	2013	2013	NUM
gp-215	228	13	)	)	PUNCT
gp-215	228	14	.	.	PUNCT
gp-215	229	1	insider	insider	NOUN
gp-215	229	2	trading	trading	NOUN
gp-215	229	3	laws	law	NOUN
gp-215	229	4	and	and	CCONJ
gp-215	229	5	stock	stock	NOUN
gp-215	229	6	price	price	NOUN
gp-215	229	7	informativeness	informativeness	NOUN
gp-215	229	8	.	.	PUNCT
gp-215	230	1	the	the	DET
gp-215	230	2	review	review	NOUN
gp-215	230	3	of	of	ADP
gp-215	230	4	financial	financial	ADJ
gp-215	230	5	studies	study	NOUN
gp-215	230	6	,	,	PUNCT
gp-215	230	7	26(7	26(7	NOUN
gp-215	230	8	)	)	PUNCT
gp-215	230	9	,	,	PUNCT
gp-215	230	10	1845–1887	1845–1887	NUM
gp-215	230	11	.	.	PUNCT
gp-215	231	1	https://doi.org/10.1093/rfs/hht015	https://doi.org/10.1093/rfs/hht015	PROPN
gp-215	231	2	gupta	gupta	PROPN
gp-215	231	3	,	,	PUNCT
gp-215	231	4	k.	k.	PROPN
gp-215	231	5	,	,	PUNCT
gp-215	231	6	&	&	CCONJ
gp-215	231	7	sharma	sharma	PROPN
gp-215	231	8	,	,	PUNCT
gp-215	231	9	r.	r.	PROPN
gp-215	231	10	(	(	PUNCT
gp-215	231	11	2023	2023	NUM
gp-215	231	12	)	)	PUNCT
gp-215	231	13	.	.	PUNCT
gp-215	232	1	sovereign	sovereign	ADJ
gp-215	232	2	wealth	wealth	NOUN
gp-215	232	3	funds	fund	NOUN
gp-215	232	4	and	and	CCONJ
gp-215	232	5	stock	stock	NOUN
gp-215	232	6	price	price	NOUN
gp-215	232	7	reaction	reaction	NOUN
gp-215	232	8	in	in	ADP
gp-215	232	9	emerging	emerge	VERB
gp-215	232	10	markets	market	NOUN
gp-215	232	11	:	:	PUNCT
gp-215	232	12	evidence	evidence	NOUN
gp-215	232	13	from	from	ADP
gp-215	232	14	india	india	PROPN
gp-215	232	15	.	.	PUNCT
gp-215	233	1	emerging	emerge	VERB
gp-215	233	2	markets	market	NOUN
gp-215	233	3	review	review	NOUN
gp-215	233	4	,	,	PUNCT
gp-215	233	5	54	54	NUM
gp-215	233	6	,	,	PUNCT
gp-215	233	7	100872	100872	NUM
gp-215	233	8	.	.	PUNCT
gp-215	234	1	https://doi.org/10.1016/j.ememar.2022.100872	https://doi.org/10.1016/j.ememar.2022.100872	ADJ
gp-215	234	2	indonesia	indonesia	PROPN
gp-215	234	3	stock	stock	PROPN
gp-215	234	4	exchange	exchange	PROPN
gp-215	234	5	(	(	PUNCT
gp-215	234	6	idx	idx	PROPN
gp-215	234	7	)	)	PUNCT
gp-215	234	8	.	.	PUNCT
gp-215	235	1	(	(	PUNCT
gp-215	235	2	2023	2023	NUM
gp-215	235	3	)	)	PUNCT
gp-215	235	4	.	.	PUNCT
gp-215	236	1	annual	annual	ADJ
gp-215	236	2	investor	investor	NOUN
gp-215	236	3	participation	participation	NOUN
gp-215	236	4	report	report	NOUN
gp-215	236	5	.	.	PUNCT
gp-215	237	1	kalev	kalev	PROPN
gp-215	237	2	,	,	PUNCT
gp-215	237	3	p.	p.	PROPN
gp-215	237	4	s.	s.	PROPN
gp-215	237	5	,	,	PUNCT
gp-215	237	6	liu	liu	PROPN
gp-215	237	7	,	,	PUNCT
gp-215	237	8	w.	w.	PROPN
gp-215	237	9	m.	m.	PROPN
gp-215	237	10	,	,	PUNCT
gp-215	237	11	pham	pham	PROPN
gp-215	237	12	,	,	PUNCT
gp-215	237	13	p.	p.	PROPN
gp-215	237	14	k.	k.	PROPN
gp-215	237	15	,	,	PUNCT
gp-215	237	16	&	&	CCONJ
gp-215	237	17	jarnecic	jarnecic	PROPN
gp-215	237	18	,	,	PUNCT
gp-215	237	19	e.	e.	PROPN
gp-215	237	20	(	(	PUNCT
gp-215	237	21	2004	2004	NUM
gp-215	237	22	)	)	PUNCT
gp-215	237	23	.	.	PUNCT
gp-215	238	1	public	public	ADJ
gp-215	238	2	information	information	NOUN
gp-215	238	3	arrival	arrival	NOUN
gp-215	238	4	and	and	CCONJ
gp-215	238	5	volatility	volatility	NOUN
gp-215	238	6	of	of	ADP
gp-215	238	7	intraday	intraday	NOUN
gp-215	238	8	stock	stock	NOUN
gp-215	238	9	returns	return	NOUN
gp-215	238	10	.	.	PUNCT
gp-215	239	1	journal	journal	NOUN
gp-215	239	2	of	of	ADP
gp-215	239	3	banking	banking	NOUN
gp-215	239	4	\	\	PROPN
gp-215	239	5	&	&	CCONJ
gp-215	239	6	finance	finance	NOUN
gp-215	239	7	,	,	PUNCT
gp-215	239	8	28(6	28(6	NUM
gp-215	239	9	)	)	PUNCT
gp-215	239	10	,	,	PUNCT
gp-215	239	11	1441–1467	1441–1467	NUM
gp-215	239	12	.	.	PUNCT
gp-215	240	1	https://doi.org/10.1016/s0378-4266(03)00132-2	https://doi.org/10.1016/s0378-4266(03)00132-2	PROPN
gp-215	240	2	kotter	kotter	PROPN
gp-215	240	3	,	,	PUNCT
gp-215	240	4	j.	j.	PROPN
gp-215	240	5	,	,	PUNCT
gp-215	240	6	&	&	CCONJ
gp-215	240	7	lel	lel	PROPN
gp-215	240	8	,	,	PUNCT
gp-215	240	9	u.	u.	PROPN
gp-215	240	10	(	(	PUNCT
gp-215	240	11	2011	2011	NUM
gp-215	240	12	)	)	PUNCT
gp-215	240	13	.	.	PUNCT
gp-215	241	1	friends	friend	NOUN
gp-215	241	2	or	or	CCONJ
gp-215	241	3	foes	foe	NOUN
gp-215	241	4	?	?	PUNCT
gp-215	242	1	target	target	NOUN
gp-215	242	2	selection	selection	NOUN
gp-215	242	3	decisions	decision	NOUN
gp-215	242	4	of	of	ADP
gp-215	242	5	sovereign	sovereign	ADJ
gp-215	242	6	wealth	wealth	NOUN
gp-215	242	7	funds	fund	NOUN
gp-215	242	8	and	and	CCONJ
gp-215	242	9	their	their	PRON
gp-215	242	10	consequences	consequence	NOUN
gp-215	242	11	.	.	PUNCT
gp-215	243	1	journal	journal	NOUN
gp-215	243	2	of	of	ADP
gp-215	243	3	financial	financial	ADJ
gp-215	243	4	economics	economic	NOUN
gp-215	243	5	,	,	PUNCT
gp-215	243	6	101(2	101(2	NUM
gp-215	243	7	)	)	PUNCT
gp-215	243	8	,	,	PUNCT
gp-215	243	9	360–381	360–381	NUM
gp-215	243	10	.	.	PUNCT
gp-215	243	11	https://doi.org/10.1016/j.jfineco.2011.03.007	https://doi.org/10.1016/j.jfineco.2011.03.007	PROPN
gp-215	243	12	mackinlay	mackinlay	NOUN
gp-215	243	13	,	,	PUNCT
gp-215	243	14	a.	a.	PROPN
gp-215	243	15	c.	c.	PROPN
gp-215	243	16	(	(	PUNCT
gp-215	243	17	1997	1997	NUM
gp-215	243	18	)	)	PUNCT
gp-215	243	19	.	.	PUNCT
gp-215	244	1	event	event	NOUN
gp-215	244	2	studies	study	NOUN
gp-215	244	3	in	in	ADP
gp-215	244	4	economics	economic	NOUN
gp-215	244	5	and	and	CCONJ
gp-215	244	6	finance	finance	NOUN
gp-215	244	7	.	.	PUNCT
gp-215	245	1	journal	journal	NOUN
gp-215	245	2	of	of	ADP
gp-215	245	3	economic	economic	ADJ
gp-215	245	4	literature	literature	NOUN
gp-215	245	5	,	,	PUNCT
gp-215	245	6	35(1	35(1	NUM
gp-215	245	7	)	)	PUNCT
gp-215	245	8	,	,	PUNCT
gp-215	245	9	13–39	13–39	NUM
gp-215	245	10	.	.	PUNCT
gp-215	246	1	https://doi.org/10.3386/w4193	https://doi.org/10.3386/w4193	NUM
gp-215	246	2	martins	martin	NOUN
gp-215	246	3	,	,	PUNCT
gp-215	246	4	a.	a.	NOUN
gp-215	246	5	,	,	PUNCT
gp-215	246	6	&	&	CCONJ
gp-215	246	7	cró	cró	PROPN
gp-215	246	8	,	,	PUNCT
gp-215	246	9	s.	s.	PROPN
gp-215	246	10	(	(	PUNCT
gp-215	246	11	2022	2022	NUM
gp-215	246	12	)	)	PUNCT
gp-215	246	13	.	.	PUNCT
gp-215	247	1	event	event	NOUN
gp-215	247	2	studies	study	NOUN
gp-215	247	3	and	and	CCONJ
gp-215	247	4	market	market	NOUN
gp-215	247	5	reactions	reaction	NOUN
gp-215	247	6	:	:	PUNCT
gp-215	247	7	a	a	DET
gp-215	247	8	framework	framework	NOUN
gp-215	247	9	for	for	ADP
gp-215	247	10	emerging	emerge	VERB
gp-215	247	11	markets	market	NOUN
gp-215	247	12	.	.	PUNCT
gp-215	248	1	mcwilliams	mcwilliams	PROPN
gp-215	248	2	,	,	PUNCT
gp-215	248	3	a.	a.	PROPN
gp-215	248	4	,	,	PUNCT
gp-215	248	5	&	&	CCONJ
gp-215	248	6	siegel	siegel	PROPN
gp-215	248	7	,	,	PUNCT
gp-215	248	8	d.	d.	PROPN
gp-215	248	9	(	(	PUNCT
gp-215	248	10	1997	1997	NUM
gp-215	248	11	)	)	PUNCT
gp-215	248	12	.	.	PUNCT
gp-215	249	1	event	event	NOUN
gp-215	249	2	studies	study	NOUN
gp-215	249	3	in	in	ADP
gp-215	249	4	management	management	NOUN
gp-215	249	5	research	research	NOUN
gp-215	249	6	:	:	PUNCT
gp-215	249	7	theoretical	theoretical	ADJ
gp-215	249	8	and	and	CCONJ
gp-215	249	9	empirical	empirical	ADJ
gp-215	249	10	issues	issue	NOUN
gp-215	249	11	.	.	PUNCT
gp-215	250	1	academy	academy	PROPN
gp-215	250	2	of	of	ADP
gp-215	250	3	management	management	PROPN
gp-215	250	4	journal	journal	NOUN
gp-215	250	5	,	,	PUNCT
gp-215	250	6	40(3	40(3	NOUN
gp-215	250	7	)	)	PUNCT
gp-215	250	8	,	,	PUNCT
gp-215	250	9	626–657	626–657	NUM
gp-215	250	10	.	.	PUNCT
gp-215	251	1	https://doi.org/10.5465/257056	https://doi.org/10.5465/257056	PROPN
gp-215	251	2	megginson	megginson	PROPN
gp-215	251	3	,	,	PUNCT
gp-215	251	4	w.	w.	PROPN
gp-215	251	5	l.	l.	PROPN
gp-215	251	6	,	,	PUNCT
gp-215	251	7	&	&	CCONJ
gp-215	251	8	fotak	fotak	PROPN
gp-215	251	9	,	,	PUNCT
gp-215	251	10	v.	v.	PROPN
gp-215	251	11	(	(	PUNCT
gp-215	251	12	2015	2015	NUM
gp-215	251	13	)	)	PUNCT
gp-215	251	14	.	.	PUNCT
gp-215	252	1	rise	rise	NOUN
gp-215	252	2	of	of	ADP
gp-215	252	3	sovereign	sovereign	ADJ
gp-215	252	4	wealth	wealth	NOUN
gp-215	252	5	funds	fund	NOUN
gp-215	252	6	:	:	PUNCT
gp-215	252	7	definition	definition	NOUN
gp-215	252	8	,	,	PUNCT
gp-215	252	9	organization	organization	NOUN
gp-215	252	10	,	,	PUNCT
gp-215	252	11	and	and	CCONJ
gp-215	252	12	governance	governance	NOUN
gp-215	252	13	.	.	PUNCT
gp-215	253	1	in	in	ADP
gp-215	253	2	j.	j.	PROPN
gp-215	253	3	l.	l.	PROPN
gp-215	253	4	ford	ford	PROPN
gp-215	253	5	&	&	CCONJ
gp-215	253	6	g.	g.	PROPN
gp-215	253	7	r.	r.	PROPN
gp-215	253	8	williams	williams	PROPN
gp-215	253	9	(	(	PUNCT
gp-215	253	10	eds	eds	PROPN
gp-215	253	11	.	.	PUNCT
gp-215	253	12	)	)	PUNCT
gp-215	253	13	,	,	PUNCT
gp-215	253	14	handbook	handbook	NOUN
gp-215	253	15	of	of	ADP
gp-215	253	16	financial	financial	ADJ
gp-215	253	17	decision	decision	NOUN
gp-215	253	18	making	making	NOUN
gp-215	253	19	(	(	PUNCT
gp-215	253	20	pp	pp	ADJ
gp-215	253	21	.	.	PUNCT
gp-215	254	1	1–25	1–25	ADJ
gp-215	254	2	)	)	PUNCT
gp-215	254	3	.	.	PUNCT
gp-215	255	1	springer	springer	NOUN
gp-215	255	2	.	.	PUNCT
gp-215	256	1	https://link.springer.com/referenceworkentry/10.1007/978-14939-2950-4_54	https://link.springer.com/referenceworkentry/10.1007/978-14939-2950-4_54	PROPN
gp-215	256	2	monk	monk	PROPN
gp-215	256	3	,	,	PUNCT
gp-215	256	4	a.	a.	PROPN
gp-215	256	5	h.	h.	PROPN
gp-215	256	6	b.	b.	PROPN
gp-215	256	7	(	(	PUNCT
gp-215	256	8	2009	2009	NUM
gp-215	256	9	)	)	PUNCT
gp-215	256	10	.	.	PUNCT
gp-215	257	1	recasting	recast	VERB
gp-215	257	2	the	the	DET
gp-215	257	3	sovereign	sovereign	ADJ
gp-215	257	4	wealth	wealth	NOUN
gp-215	257	5	fund	fund	NOUN
gp-215	257	6	debate	debate	NOUN
gp-215	257	7	:	:	PUNCT
gp-215	257	8	trust	trust	NOUN
gp-215	257	9	,	,	PUNCT
gp-215	257	10	legitimacy	legitimacy	NOUN
gp-215	257	11	,	,	PUNCT
gp-215	257	12	and	and	CCONJ
gp-215	257	13	governance	governance	NOUN
gp-215	257	14	.	.	PUNCT
gp-215	258	1	new	new	ADJ
gp-215	258	2	political	political	ADJ
gp-215	258	3	economy	economy	NOUN
gp-215	258	4	,	,	PUNCT
gp-215	258	5	14(4	14(4	NUM
gp-215	258	6	)	)	PUNCT
gp-215	258	7	,	,	PUNCT
gp-215	258	8	451–468	451–468	NUM
gp-215	258	9	.	.	PUNCT
gp-215	258	10	https://doi.org/10.1080/13563460903287061	https://doi.org/10.1080/13563460903287061	PROPN
gp-215	258	11	morck	morck	PROPN
gp-215	258	12	,	,	PUNCT
gp-215	258	13	r.	r.	PROPN
gp-215	258	14	,	,	PUNCT
gp-215	258	15	yeung	yeung	PROPN
gp-215	258	16	,	,	PUNCT
gp-215	258	17	b.	b.	PROPN
gp-215	258	18	,	,	PUNCT
gp-215	258	19	&	&	CCONJ
gp-215	258	20	yu	yu	PROPN
gp-215	258	21	,	,	PUNCT
gp-215	258	22	w.	w.	PROPN
gp-215	258	23	(	(	PUNCT
gp-215	258	24	2000	2000	NUM
gp-215	258	25	)	)	PUNCT
gp-215	258	26	.	.	PUNCT
gp-215	259	1	the	the	DET
gp-215	259	2	information	information	NOUN
gp-215	259	3	content	content	NOUN
gp-215	259	4	of	of	ADP
gp-215	259	5	stock	stock	NOUN
gp-215	259	6	markets	market	NOUN
gp-215	259	7	:	:	PUNCT
gp-215	259	8	why	why	SCONJ
gp-215	259	9	do	do	AUX
gp-215	259	10	emerging	emerge	VERB
gp-215	259	11	markets	market	NOUN
gp-215	259	12	have	have	VERB
gp-215	259	13	synchronous	synchronous	ADJ
gp-215	259	14	stock	stock	NOUN
gp-215	259	15	price	price	NOUN
gp-215	259	16	movements	movement	NOUN
gp-215	259	17	?	?	PUNCT
gp-215	260	1	journal	journal	NOUN
gp-215	260	2	of	of	ADP
gp-215	260	3	financial	financial	ADJ
gp-215	260	4	economics	economic	NOUN
gp-215	260	5	,	,	PUNCT
gp-215	260	6	58(1	58(1	PROPN
gp-215	260	7	-	-	PUNCT
gp-215	260	8	-2	-2	NUM
gp-215	260	9	)	)	PUNCT
gp-215	260	10	,	,	PUNCT
gp-215	260	11	215–260	215–260	NUM
gp-215	260	12	.	.	PUNCT
gp-215	261	1	https://doi.org/10.1016/s0304-405x(00)00071-4	https://doi.org/10.1016/s0304-405x(00)00071-4	PROPN
gp-215	261	2	north	north	PROPN
gp-215	261	3	,	,	PUNCT
gp-215	261	4	d.	d.	PROPN
gp-215	261	5	c.	c.	PROPN
gp-215	261	6	(	(	PUNCT
gp-215	261	7	1990	1990	NUM
gp-215	261	8	)	)	PUNCT
gp-215	261	9	.	.	PUNCT
gp-215	262	1	institutions	institution	NOUN
gp-215	262	2	,	,	PUNCT
gp-215	262	3	institutional	institutional	ADJ
gp-215	262	4	change	change	NOUN
gp-215	262	5	and	and	CCONJ
gp-215	262	6	economic	economic	ADJ
gp-215	262	7	performance	performance	NOUN
gp-215	262	8	.	.	PUNCT
gp-215	263	1	cambridge	cambridge	PROPN
gp-215	263	2	university	university	PROPN
gp-215	263	3	press	press	PROPN
gp-215	263	4	.	.	PUNCT
gp-215	264	1	https://doi.org/10.1017/cbo9780511808678	https://doi.org/10.1017/cbo9780511808678	PROPN
gp-215	264	2	rofiah	rofiah	PROPN
gp-215	264	3	,	,	PUNCT
gp-215	264	4	k.	k.	PROPN
gp-215	264	5	,	,	PUNCT
gp-215	264	6	suhadak	suhadak	PROPN
gp-215	264	7	,	,	PUNCT
gp-215	264	8	&	&	CCONJ
gp-215	264	9	handayani	handayani	PROPN
gp-215	264	10	,	,	PUNCT
gp-215	264	11	s.	s.	PROPN
gp-215	264	12	r.	r.	PROPN
gp-215	264	13	(	(	PUNCT
gp-215	264	14	2019	2019	NUM
gp-215	264	15	)	)	PUNCT
gp-215	264	16	.	.	PUNCT
gp-215	265	1	reaction	reaction	NOUN
gp-215	265	2	of	of	ADP
gp-215	265	3	stock	stock	NOUN
gp-215	265	4	market	market	NOUN
gp-215	265	5	to	to	ADP
gp-215	265	6	financial	financial	ADJ
gp-215	265	7	performance	performance	NOUN
gp-215	265	8	announcements	announcement	NOUN
gp-215	265	9	:	:	PUNCT
gp-215	265	10	evidence	evidence	NOUN
gp-215	265	11	from	from	ADP
gp-215	265	12	indonesian	indonesian	ADJ
gp-215	265	13	banking	banking	NOUN
gp-215	265	14	sector	sector	NOUN
gp-215	265	15	.	.	PUNCT
gp-215	266	1	journal	journal	NOUN
gp-215	266	2	of	of	ADP
gp-215	266	3	applied	apply	VERB
gp-215	266	4	finance	finance	NOUN
gp-215	266	5	\	\	PROPN
gp-215	266	6	&	&	CCONJ
gp-215	266	7	banking	banking	NOUN
gp-215	266	8	,	,	PUNCT
gp-215	266	9	9(3	9(3	NUM
gp-215	266	10	)	)	PUNCT
gp-215	266	11	,	,	PUNCT
gp-215	266	12	61–76	61–76	NUM
gp-215	266	13	.	.	PUNCT
gp-215	266	14	https://www.scienpress.com/journal_focus.asp?main_id=56	https://www.scienpress.com/journal_focus.asp?main_id=56	NOUN
gp-215	266	15	siregar	siregar	NOUN
gp-215	266	16	,	,	PUNCT
gp-215	266	17	r.	r.	PROPN
gp-215	266	18	y.	y.	PROPN
gp-215	266	19	,	,	PUNCT
gp-215	266	20	&	&	CCONJ
gp-215	266	21	others	other	NOUN
gp-215	266	22	.	.	PUNCT
gp-215	267	1	(	(	PUNCT
gp-215	267	2	2022	2022	NUM
gp-215	267	3	)	)	PUNCT
gp-215	267	4	.	.	PUNCT
gp-215	268	1	comparative	comparative	ADJ
gp-215	268	2	study	study	NOUN
gp-215	268	3	of	of	ADP
gp-215	268	4	sovereign	sovereign	ADJ
gp-215	268	5	wealth	wealth	NOUN
gp-215	268	6	funds	fund	NOUN
gp-215	268	7	in	in	ADP
gp-215	268	8	southeast	southeast	PROPN
gp-215	268	9	asia	asia	PROPN
gp-215	268	10	.	.	PUNCT
gp-215	269	1	spence	spence	PROPN
gp-215	269	2	,	,	PUNCT
gp-215	269	3	m.	m.	NOUN
gp-215	269	4	(	(	PUNCT
gp-215	269	5	1973	1973	NUM
gp-215	269	6	)	)	PUNCT
gp-215	269	7	.	.	PUNCT
gp-215	270	1	job	job	NOUN
gp-215	270	2	market	market	NOUN
gp-215	270	3	signaling	signal	VERB
gp-215	270	4	.	.	PUNCT
gp-215	271	1	the	the	DET
gp-215	271	2	quarterly	quarterly	ADJ
gp-215	271	3	journal	journal	NOUN
gp-215	271	4	of	of	ADP
gp-215	271	5	economics	economic	NOUN
gp-215	271	6	,	,	PUNCT
gp-215	271	7	87(3	87(3	NOUN
gp-215	271	8	)	)	PUNCT
gp-215	271	9	,	,	PUNCT
gp-215	271	10	355–374	355–374	NUM
gp-215	271	11	.	.	PUNCT
gp-215	272	1	https://doi.org/10.2307/1882010	https://doi.org/10.2307/1882010	PROPN
gp-215	272	2	truman	truman	PROPN
gp-215	272	3	,	,	PUNCT
gp-215	272	4	e.	e.	PROPN
gp-215	272	5	m.	m.	PROPN
gp-215	272	6	(	(	PUNCT
gp-215	272	7	2008	2008	NUM
gp-215	272	8	)	)	PUNCT
gp-215	272	9	.	.	PUNCT
gp-215	273	1	sovereign	sovereign	ADJ
gp-215	273	2	wealth	wealth	NOUN
gp-215	273	3	funds	fund	NOUN
gp-215	273	4	:	:	PUNCT
gp-215	273	5	the	the	DET
gp-215	273	6	need	need	NOUN
gp-215	273	7	for	for	ADP
gp-215	273	8	greater	great	ADJ
gp-215	273	9	transparency	transparency	NOUN
gp-215	273	10	and	and	CCONJ
gp-215	273	11	accountability	accountability	NOUN
gp-215	273	12	.	.	PUNCT
gp-215	274	1	https://www.piie.com/publications/policy-briefs/sovereign-wealth-fundsneed-greater-transparency-and-accountability	https://www.piie.com/publications/policy-briefs/sovereign-wealth-fundsneed-greater-transparency-and-accountability	PROPN
gp-215	274	2	american	american	PROPN
gp-215	274	3	journal	journal	PROPN
gp-215	274	4	of	of	ADP
gp-215	274	5	economic	economic	ADJ
gp-215	274	6	and	and	CCONJ
gp-215	274	7	management	management	NOUN
gp-215	274	8	business	business	NOUN
gp-215	274	9	vol	vol	NOUN
gp-215	274	10	.	.	PROPN
gp-215	275	1	4	4	NUM
gp-215	275	2	no	no	NOUN
gp-215	275	3	.	.	NOUN
gp-215	275	4	5	5	NUM
gp-215	275	5	may	may	AUX
gp-215	275	6	2025	2025	NUM
gp-215	275	7	402	402	NUM
gp-215	275	8	wulandari	wulandari	NOUN
gp-215	275	9	,	,	PUNCT
gp-215	275	10	r.	r.	PROPN
gp-215	275	11	,	,	PUNCT
gp-215	275	12	&	&	CCONJ
gp-215	275	13	hapsari	hapsari	PROPN
gp-215	275	14	,	,	PUNCT
gp-215	275	15	i.	i.	PROPN
gp-215	275	16	(	(	PUNCT
gp-215	275	17	2020	2020	NUM
gp-215	275	18	)	)	PUNCT
gp-215	275	19	.	.	PUNCT
gp-215	276	1	market	market	NOUN
gp-215	276	2	reaction	reaction	NOUN
gp-215	276	3	to	to	ADP
gp-215	276	4	regulatory	regulatory	ADJ
gp-215	276	5	reform	reform	NOUN
gp-215	276	6	announcements	announcement	NOUN
gp-215	276	7	in	in	ADP
gp-215	276	8	indonesia	indonesia	PROPN
gp-215	276	9	:	:	PUNCT
gp-215	276	10	evidence	evidence	NOUN
gp-215	276	11	from	from	ADP
gp-215	276	12	the	the	DET
gp-215	276	13	financial	financial	ADJ
gp-215	276	14	sector	sector	NOUN
gp-215	276	15	.	.	PUNCT
gp-215	277	1	asian	asian	ADJ
gp-215	277	2	economic	economic	ADJ
gp-215	277	3	and	and	CCONJ
gp-215	277	4	financial	financial	ADJ
gp-215	277	5	review	review	NOUN
gp-215	277	6	,	,	PUNCT
gp-215	277	7	10(5	10(5	NUM
gp-215	277	8	)	)	PUNCT
gp-215	277	9	,	,	PUNCT
gp-215	277	10	589–600	589–600	NUM
gp-215	277	11	.	.	PUNCT
gp-215	278	1	https://doi.org/10.18488/journal.aefr.2020.105.589.600	https://doi.org/10.18488/journal.aefr.2020.105.589.600	NOUN
gp-215	278	2	copyright	copyright	NOUN
gp-215	278	3	holders	holder	NOUN
gp-215	278	4	:	:	PUNCT
gp-215	278	5	reni	reni	PROPN
gp-215	278	6	lestari	lestari	PROPN
gp-215	278	7	,	,	PUNCT
gp-215	278	8	lindsay	lindsay	PROPN
gp-215	278	9	carnelian	carnelian	PROPN
gp-215	278	10	emily	emily	PROPN
gp-215	278	11	(	(	PUNCT
gp-215	278	12	2025	2025	NUM
gp-215	278	13	)	)	PUNCT
gp-215	278	14	first	first	ADJ
gp-215	278	15	publication	publication	NOUN
gp-215	278	16	right	right	NOUN
gp-215	278	17	:	:	PUNCT
gp-215	278	18	ajemb	ajemb	PROPN
gp-215	278	19	–	–	PUNCT
gp-215	278	20	american	american	ADJ
gp-215	278	21	journal	journal	PROPN
gp-215	278	22	of	of	ADP
gp-215	278	23	economic	economic	ADJ
gp-215	278	24	and	and	CCONJ
gp-215	278	25	management	management	NOUN
gp-215	278	26	business	business	NOUN