id	sid	tid	token	lemma	pos
arjefm-94	1	1	american	american	PROPN
arjefm-94	1	2	research	research	PROPN
arjefm-94	1	3	journal	journal	PROPN
arjefm-94	1	4	of	of	ADP
arjefm-94	1	5	economics	economic	NOUN
arjefm-94	1	6	,	,	PUNCT
arjefm-94	1	7	finance	finance	NOUN
arjefm-94	1	8	and	and	CCONJ
arjefm-94	1	9	management	management	NOUN
arjefm-94	1	10	volume	volume	NOUN
arjefm-94	1	11	11	11	NUM
arjefm-94	1	12	issue	issue	NOUN
arjefm-94	1	13	4	4	NUM
arjefm-94	1	14	,	,	PUNCT
arjefm-94	1	15	october	october	PROPN
arjefm-94	1	16	-	-	PUNCT
arjefm-94	1	17	december	december	PROPN
arjefm-94	1	18	2023	2023	NUM
arjefm-94	1	19	issn	issn	NOUN
arjefm-94	1	20	:	:	PUNCT
arjefm-94	1	21	2836	2836	NUM
arjefm-94	1	22	-	-	SYM
arjefm-94	1	23	9416	9416	NUM
arjefm-94	1	24	impact	impact	NOUN
arjefm-94	1	25	factor	factor	NOUN
arjefm-94	1	26	:	:	PUNCT
arjefm-94	1	27	5.57	5.57	NUM
arjefm-94	1	28	journal	journal	NOUN
arjefm-94	1	29	homepage	homepage	NOUN
arjefm-94	1	30	:	:	PUNCT
arjefm-94	1	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	1	32	,	,	PUNCT
arjefm-94	1	33	email	email	NOUN
arjefm-94	1	34	:	:	PUNCT
arjefm-94	1	35	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	1	36	official	official	ADJ
arjefm-94	1	37	journal	journal	PROPN
arjefm-94	1	38	of	of	ADP
arjefm-94	1	39	america	america	PROPN
arjefm-94	1	40	serial	serial	PROPN
arjefm-94	1	41	publication	publication	NOUN
arjefm-94	1	42	american	american	PROPN
arjefm-94	1	43	research	research	PROPN
arjefm-94	1	44	journal	journal	PROPN
arjefm-94	1	45	of	of	ADP
arjefm-94	1	46	economics	economic	NOUN
arjefm-94	1	47	,	,	PUNCT
arjefm-94	1	48	finance	finance	NOUN
arjefm-94	1	49	and	and	CCONJ
arjefm-94	1	50	management	management	NOUN
arjefm-94	1	51	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	1	52	,	,	PUNCT
arjefm-94	1	53	email	email	NOUN
arjefm-94	1	54	:	:	PUNCT
arjefm-94	1	55	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	2	1	64	64	NUM
arjefm-94	3	1	|	|	ADV
arjefm-94	3	2	p	p	NOUN
arjefm-94	3	3	a	a	DET
arjefm-94	3	4	g	g	NOUN
arjefm-94	3	5	e	e	PROPN
arjefm-94	3	6	a	a	DET
arjefm-94	3	7	historical	historical	ADJ
arjefm-94	3	8	perspective	perspective	NOUN
arjefm-94	3	9	on	on	ADP
arjefm-94	3	10	volatility	volatility	NOUN
arjefm-94	3	11	in	in	ADP
arjefm-94	3	12	the	the	DET
arjefm-94	3	13	mexican	mexican	ADJ
arjefm-94	3	14	stock	stock	NOUN
arjefm-94	3	15	market	market	NOUN
arjefm-94	3	16	index	index	NOUN
arjefm-94	3	17	maría	maría	PROPN
arjefm-94	3	18	rodríguez	rodríguez	PROPN
arjefm-94	3	19	gonzález	gonzález	PROPN
arjefm-94	3	20	cristóbal	cristóbal	PROPN
arjefm-94	3	21	colón	colón	PROPN
arjefm-94	3	22	universityveracruz	universityveracruz	PROPN
arjefm-94	3	23	,	,	PUNCT
arjefm-94	3	24	mexico	mexico	PROPN
arjefm-94	3	25	,	,	PUNCT
arjefm-94	3	26	third	third	ADJ
arjefm-94	3	27	year	year	NOUN
arjefm-94	3	28	student	student	NOUN
arjefm-94	3	29	of	of	ADP
arjefm-94	3	30	doctoral	doctoral	ADJ
arjefm-94	3	31	program	program	NOUN
arjefm-94	3	32	in	in	ADP
arjefm-94	3	33	management	management	NOUN
arjefm-94	3	34	science	science	NOUN
arjefm-94	3	35	abstract	abstract	NOUN
arjefm-94	3	36	:	:	PUNCT
arjefm-94	3	37	the	the	DET
arjefm-94	3	38	predictability	predictability	NOUN
arjefm-94	3	39	of	of	ADP
arjefm-94	3	40	stock	stock	NOUN
arjefm-94	3	41	price	price	NOUN
arjefm-94	3	42	movements	movement	NOUN
arjefm-94	3	43	has	have	AUX
arjefm-94	3	44	long	long	ADV
arjefm-94	3	45	been	be	AUX
arjefm-94	3	46	a	a	DET
arjefm-94	3	47	subject	subject	NOUN
arjefm-94	3	48	of	of	ADP
arjefm-94	3	49	debate	debate	NOUN
arjefm-94	3	50	in	in	ADP
arjefm-94	3	51	academia	academia	NOUN
arjefm-94	3	52	and	and	CCONJ
arjefm-94	3	53	the	the	DET
arjefm-94	3	54	finance	finance	NOUN
arjefm-94	3	55	sector	sector	NOUN
arjefm-94	3	56	.	.	PUNCT
arjefm-94	4	1	this	this	DET
arjefm-94	4	2	study	study	NOUN
arjefm-94	4	3	delves	delve	VERB
arjefm-94	4	4	into	into	ADP
arjefm-94	4	5	the	the	DET
arjefm-94	4	6	age	age	NOUN
arjefm-94	4	7	-	-	PUNCT
arjefm-94	4	8	old	old	ADJ
arjefm-94	4	9	question	question	NOUN
arjefm-94	4	10	:	:	PUNCT
arjefm-94	4	11	how	how	SCONJ
arjefm-94	4	12	can	can	AUX
arjefm-94	4	13	historical	historical	ADJ
arjefm-94	4	14	stock	stock	NOUN
arjefm-94	4	15	price	price	NOUN
arjefm-94	4	16	data	datum	NOUN
arjefm-94	4	17	be	be	AUX
arjefm-94	4	18	leveraged	leverage	VERB
arjefm-94	4	19	to	to	PART
arjefm-94	4	20	forecast	forecast	VERB
arjefm-94	4	21	future	future	ADJ
arjefm-94	4	22	behavior	behavior	NOUN
arjefm-94	4	23	?	?	PUNCT
arjefm-94	5	1	this	this	DET
arjefm-94	5	2	question	question	NOUN
arjefm-94	5	3	has	have	AUX
arjefm-94	5	4	spurred	spur	VERB
arjefm-94	5	5	two	two	NUM
arjefm-94	5	6	competing	compete	VERB
arjefm-94	5	7	theories	theory	NOUN
arjefm-94	5	8	:	:	PUNCT
arjefm-94	5	9	the	the	DET
arjefm-94	5	10	chartist	chartist	NOUN
arjefm-94	5	11	theory	theory	NOUN
arjefm-94	5	12	and	and	CCONJ
arjefm-94	5	13	the	the	DET
arjefm-94	5	14	theory	theory	NOUN
arjefm-94	5	15	of	of	ADP
arjefm-94	5	16	random	random	ADJ
arjefm-94	5	17	walks	walk	NOUN
arjefm-94	5	18	.	.	PUNCT
arjefm-94	6	1	chartists	chartist	NOUN
arjefm-94	6	2	,	,	PUNCT
arjefm-94	6	3	who	who	PRON
arjefm-94	6	4	primarily	primarily	ADV
arjefm-94	6	5	follow	follow	VERB
arjefm-94	6	6	dow	dow	PROPN
arjefm-94	6	7	theory	theory	NOUN
arjefm-94	6	8	and	and	CCONJ
arjefm-94	6	9	technical	technical	ADJ
arjefm-94	6	10	analysis	analysis	NOUN
arjefm-94	6	11	,	,	PUNCT
arjefm-94	6	12	share	share	VERB
arjefm-94	6	13	a	a	DET
arjefm-94	6	14	common	common	ADJ
arjefm-94	6	15	belief	belief	NOUN
arjefm-94	6	16	that	that	SCONJ
arjefm-94	6	17	historical	historical	ADJ
arjefm-94	6	18	asset	asset	NOUN
arjefm-94	6	19	price	price	NOUN
arjefm-94	6	20	data	datum	NOUN
arjefm-94	6	21	holds	hold	VERB
arjefm-94	6	22	valuable	valuable	ADJ
arjefm-94	6	23	information	information	NOUN
arjefm-94	6	24	for	for	ADP
arjefm-94	6	25	predicting	predict	VERB
arjefm-94	6	26	future	future	ADJ
arjefm-94	6	27	behavior	behavior	NOUN
arjefm-94	6	28	.	.	PUNCT
arjefm-94	7	1	they	they	PRON
arjefm-94	7	2	posit	posit	VERB
arjefm-94	7	3	that	that	SCONJ
arjefm-94	7	4	patterns	pattern	NOUN
arjefm-94	7	5	observed	observe	VERB
arjefm-94	7	6	in	in	ADP
arjefm-94	7	7	past	past	ADJ
arjefm-94	7	8	prices	price	NOUN
arjefm-94	7	9	tend	tend	VERB
arjefm-94	7	10	to	to	PART
arjefm-94	7	11	recur	recur	VERB
arjefm-94	7	12	in	in	ADP
arjefm-94	7	13	the	the	DET
arjefm-94	7	14	future	future	NOUN
arjefm-94	7	15	,	,	PUNCT
arjefm-94	7	16	suggesting	suggest	VERB
arjefm-94	7	17	that	that	SCONJ
arjefm-94	7	18	history	history	NOUN
arjefm-94	7	19	repeats	repeat	VERB
arjefm-94	7	20	itself	itself	PRON
arjefm-94	7	21	.	.	PUNCT
arjefm-94	8	1	consequently	consequently	ADV
arjefm-94	8	2	,	,	PUNCT
arjefm-94	8	3	analysts	analyst	NOUN
arjefm-94	8	4	following	follow	VERB
arjefm-94	8	5	this	this	DET
arjefm-94	8	6	approach	approach	NOUN
arjefm-94	8	7	use	use	VERB
arjefm-94	8	8	historical	historical	ADJ
arjefm-94	8	9	patterns	pattern	NOUN
arjefm-94	8	10	to	to	PART
arjefm-94	8	11	forecast	forecast	VERB
arjefm-94	8	12	future	future	ADJ
arjefm-94	8	13	price	price	NOUN
arjefm-94	8	14	movements	movement	NOUN
arjefm-94	8	15	,	,	PUNCT
arjefm-94	8	16	aiming	aim	VERB
arjefm-94	8	17	to	to	PART
arjefm-94	8	18	boost	boost	VERB
arjefm-94	8	19	their	their	PRON
arjefm-94	8	20	expected	expect	VERB
arjefm-94	8	21	profits	profit	NOUN
arjefm-94	8	22	(	(	PUNCT
arjefm-94	8	23	murphy	murphy	NOUN
arjefm-94	8	24	,	,	PUNCT
arjefm-94	8	25	2000	2000	NUM
arjefm-94	8	26	)	)	PUNCT
arjefm-94	8	27	.	.	PUNCT
arjefm-94	9	1	in	in	ADP
arjefm-94	9	2	stark	stark	ADJ
arjefm-94	9	3	contrast	contrast	NOUN
arjefm-94	9	4	,	,	PUNCT
arjefm-94	9	5	the	the	DET
arjefm-94	9	6	theory	theory	NOUN
arjefm-94	9	7	of	of	ADP
arjefm-94	9	8	random	random	ADJ
arjefm-94	9	9	walks	walk	NOUN
arjefm-94	9	10	contends	contend	VERB
arjefm-94	9	11	that	that	SCONJ
arjefm-94	9	12	stock	stock	NOUN
arjefm-94	9	13	prices	price	NOUN
arjefm-94	9	14	follow	follow	VERB
arjefm-94	9	15	a	a	DET
arjefm-94	9	16	random	random	ADJ
arjefm-94	9	17	walk	walk	NOUN
arjefm-94	9	18	,	,	PUNCT
arjefm-94	9	19	making	make	VERB
arjefm-94	9	20	it	it	PRON
arjefm-94	9	21	impossible	impossible	ADJ
arjefm-94	9	22	to	to	PART
arjefm-94	9	23	predict	predict	VERB
arjefm-94	9	24	future	future	ADJ
arjefm-94	9	25	prices	price	NOUN
arjefm-94	9	26	based	base	VERB
arjefm-94	9	27	on	on	ADP
arjefm-94	9	28	historical	historical	ADJ
arjefm-94	9	29	data	datum	NOUN
arjefm-94	9	30	(	(	PUNCT
arjefm-94	9	31	fama	fama	NOUN
arjefm-94	9	32	,	,	PUNCT
arjefm-94	9	33	1965	1965	NUM
arjefm-94	9	34	)	)	PUNCT
arjefm-94	9	35	.	.	PUNCT
arjefm-94	10	1	this	this	DET
arjefm-94	10	2	theory	theory	NOUN
arjefm-94	10	3	asserts	assert	VERB
arjefm-94	10	4	that	that	SCONJ
arjefm-94	10	5	price	price	NOUN
arjefm-94	10	6	changes	change	NOUN
arjefm-94	10	7	are	be	AUX
arjefm-94	10	8	random	random	ADJ
arjefm-94	10	9	variables	variable	NOUN
arjefm-94	10	10	that	that	PRON
arjefm-94	10	11	are	be	AUX
arjefm-94	10	12	independent	independent	ADJ
arjefm-94	10	13	and	and	CCONJ
arjefm-94	10	14	identically	identically	ADV
arjefm-94	10	15	distributed	distribute	VERB
arjefm-94	10	16	(	(	PUNCT
arjefm-94	10	17	johnston	johnston	PROPN
arjefm-94	10	18	&	&	CCONJ
arjefm-94	10	19	dinardo	dinardo	PROPN
arjefm-94	10	20	,	,	PUNCT
arjefm-94	10	21	1997	1997	NUM
arjefm-94	10	22	)	)	PUNCT
arjefm-94	10	23	.	.	PUNCT
arjefm-94	11	1	in	in	ADP
arjefm-94	11	2	essence	essence	NOUN
arjefm-94	11	3	,	,	PUNCT
arjefm-94	11	4	past	past	ADP
arjefm-94	11	5	prices	price	NOUN
arjefm-94	11	6	do	do	AUX
arjefm-94	11	7	not	not	PART
arjefm-94	11	8	offer	offer	VERB
arjefm-94	11	9	any	any	DET
arjefm-94	11	10	information	information	NOUN
arjefm-94	11	11	that	that	PRON
arjefm-94	11	12	can	can	AUX
arjefm-94	11	13	be	be	AUX
arjefm-94	11	14	used	use	VERB
arjefm-94	11	15	to	to	PART
arjefm-94	11	16	anticipate	anticipate	VERB
arjefm-94	11	17	future	future	ADJ
arjefm-94	11	18	prices	price	NOUN
arjefm-94	11	19	.	.	PUNCT
arjefm-94	12	1	fama	fama	PROPN
arjefm-94	12	2	(	(	PUNCT
arjefm-94	12	3	1970	1970	NUM
arjefm-94	12	4	)	)	PUNCT
arjefm-94	12	5	introduced	introduce	VERB
arjefm-94	12	6	three	three	NUM
arjefm-94	12	7	levels	level	NOUN
arjefm-94	12	8	of	of	ADP
arjefm-94	12	9	market	market	NOUN
arjefm-94	12	10	efficiency	efficiency	NOUN
arjefm-94	12	11	,	,	PUNCT
arjefm-94	12	12	with	with	ADP
arjefm-94	12	13	the	the	DET
arjefm-94	12	14	weak	weak	ADJ
arjefm-94	12	15	form	form	NOUN
arjefm-94	12	16	suggesting	suggest	VERB
arjefm-94	12	17	that	that	SCONJ
arjefm-94	12	18	the	the	DET
arjefm-94	12	19	history	history	NOUN
arjefm-94	12	20	of	of	ADP
arjefm-94	12	21	stock	stock	NOUN
arjefm-94	12	22	prices	price	NOUN
arjefm-94	12	23	does	do	AUX
arjefm-94	12	24	not	not	PART
arjefm-94	12	25	contain	contain	VERB
arjefm-94	12	26	information	information	NOUN
arjefm-94	12	27	capable	capable	ADJ
arjefm-94	12	28	of	of	ADP
arjefm-94	12	29	generating	generate	VERB
arjefm-94	12	30	yields	yield	NOUN
arjefm-94	12	31	beyond	beyond	ADP
arjefm-94	12	32	what	what	PRON
arjefm-94	12	33	a	a	DET
arjefm-94	12	34	random	random	ADJ
arjefm-94	12	35	portfolio	portfolio	NOUN
arjefm-94	12	36	would	would	AUX
arjefm-94	12	37	yield	yield	VERB
arjefm-94	12	38	.	.	PUNCT
arjefm-94	13	1	keywords	keyword	NOUN
arjefm-94	13	2	:	:	PUNCT
arjefm-94	13	3	stock	stock	NOUN
arjefm-94	13	4	prices	price	NOUN
arjefm-94	13	5	,	,	PUNCT
arjefm-94	13	6	chartist	chartist	NOUN
arjefm-94	13	7	theory	theory	NOUN
arjefm-94	13	8	,	,	PUNCT
arjefm-94	13	9	random	random	ADJ
arjefm-94	13	10	walks	walk	NOUN
arjefm-94	13	11	,	,	PUNCT
arjefm-94	13	12	market	market	NOUN
arjefm-94	13	13	efficiency	efficiency	NOUN
arjefm-94	13	14	,	,	PUNCT
arjefm-94	13	15	historical	historical	ADJ
arjefm-94	13	16	data	datum	NOUN
arjefm-94	13	17	,	,	PUNCT
arjefm-94	13	18	forecasting	forecasting	NOUN
arjefm-94	13	19	.	.	PUNCT
arjefm-94	14	1	1	1	X
arjefm-94	14	2	.	.	X
arjefm-94	14	3	introduction	introduction	NOUN
arjefm-94	14	4	for	for	ADP
arjefm-94	14	5	many	many	ADJ
arjefm-94	14	6	years	year	NOUN
arjefm-94	14	7	,	,	PUNCT
arjefm-94	14	8	in	in	ADP
arjefm-94	14	9	the	the	DET
arjefm-94	14	10	academia	academia	NOUN
arjefm-94	14	11	and	and	CCONJ
arjefm-94	14	12	finance	finance	NOUN
arjefm-94	14	13	sector	sector	NOUN
arjefm-94	14	14	the	the	DET
arjefm-94	14	15	following	follow	VERB
arjefm-94	14	16	question	question	NOUN
arjefm-94	14	17	has	have	AUX
arjefm-94	14	18	been	be	AUX
arjefm-94	14	19	subject	subject	ADJ
arjefm-94	14	20	of	of	ADP
arjefm-94	14	21	discussion	discussion	NOUN
arjefm-94	14	22	and	and	CCONJ
arjefm-94	14	23	controversy	controversy	NOUN
arjefm-94	14	24	:	:	PUNCT
arjefm-94	14	25	how	how	SCONJ
arjefm-94	14	26	to	to	PART
arjefm-94	14	27	extent	extent	VERB
arjefm-94	14	28	,	,	PUNCT
arjefm-94	14	29	the	the	DET
arjefm-94	14	30	historical	historical	ADJ
arjefm-94	14	31	data	datum	NOUN
arjefm-94	14	32	of	of	ADP
arjefm-94	14	33	stock	stock	NOUN
arjefm-94	14	34	prices	price	NOUN
arjefm-94	14	35	to	to	PART
arjefm-94	14	36	predict	predict	VERB
arjefm-94	14	37	their	their	PRON
arjefm-94	14	38	behavior	behavior	NOUN
arjefm-94	14	39	?	?	PUNCT
arjefm-94	15	1	the	the	DET
arjefm-94	15	2	answers	answer	NOUN
arjefm-94	15	3	to	to	ADP
arjefm-94	15	4	this	this	DET
arjefm-94	15	5	question	question	NOUN
arjefm-94	15	6	have	have	AUX
arjefm-94	15	7	been	be	AUX
arjefm-94	15	8	addressed	address	VERB
arjefm-94	15	9	firstly	firstly	ADV
arjefm-94	15	10	by	by	ADP
arjefm-94	15	11	the	the	DET
arjefm-94	15	12	chartist	chartist	NOUN
arjefm-94	15	13	theory	theory	NOUN
arjefm-94	15	14	and	and	CCONJ
arjefm-94	15	15	the	the	DET
arjefm-94	15	16	theory	theory	NOUN
arjefm-94	15	17	of	of	ADP
arjefm-94	15	18	random	random	ADJ
arjefm-94	15	19	walks	walk	NOUN
arjefm-94	15	20	.	.	PUNCT
arjefm-94	16	1	the	the	DET
arjefm-94	16	2	focus	focus	NOUN
arjefm-94	16	3	of	of	ADP
arjefm-94	16	4	chartists	chartist	NOUN
arjefm-94	16	5	’	'	PUNCT
arjefm-94	16	6	theories	theory	NOUN
arjefm-94	16	7	(	(	PUNCT
arjefm-94	16	8	primarily	primarily	ADV
arjefm-94	16	9	dow	dow	PROPN
arjefm-94	16	10	theory	theory	NOUN
arjefm-94	16	11	and	and	CCONJ
arjefm-94	16	12	technical	technical	ADJ
arjefm-94	16	13	analysis	analysis	NOUN
arjefm-94	16	14	)	)	PUNCT
arjefm-94	16	15	based	base	VERB
arjefm-94	16	16	on	on	ADP
arjefm-94	16	17	the	the	DET
arjefm-94	16	18	same	same	ADJ
arjefm-94	16	19	assumptions	assumption	NOUN
arjefm-94	16	20	;	;	PUNCT
arjefm-94	16	21	assume	assume	VERB
arjefm-94	16	22	that	that	SCONJ
arjefm-94	16	23	the	the	DET
arjefm-94	16	24	historical	historical	ADJ
arjefm-94	16	25	data	datum	NOUN
arjefm-94	16	26	of	of	ADP
arjefm-94	16	27	asset	asset	NOUN
arjefm-94	16	28	price	price	NOUN
arjefm-94	16	29	have	have	VERB
arjefm-94	16	30	much	much	ADJ
arjefm-94	16	31	information	information	NOUN
arjefm-94	16	32	that	that	PRON
arjefm-94	16	33	can	can	AUX
arjefm-94	16	34	be	be	AUX
arjefm-94	16	35	used	use	VERB
arjefm-94	16	36	to	to	PART
arjefm-94	16	37	predict	predict	VERB
arjefm-94	16	38	their	their	PRON
arjefm-94	16	39	behavior	behavior	NOUN
arjefm-94	16	40	.	.	PUNCT
arjefm-94	17	1	the	the	DET
arjefm-94	17	2	pattern	pattern	NOUN
arjefm-94	17	3	of	of	ADP
arjefm-94	17	4	past	past	ADJ
arjefm-94	17	5	prices	price	NOUN
arjefm-94	17	6	tends	tend	VERB
arjefm-94	17	7	to	to	PART
arjefm-94	17	8	recur	recur	VERB
arjefm-94	17	9	in	in	ADP
arjefm-94	17	10	the	the	DET
arjefm-94	17	11	future	future	NOUN
arjefm-94	17	12	,	,	PUNCT
arjefm-94	17	13	that	that	ADV
arjefm-94	17	14	is	is	ADV
arjefm-94	17	15	,	,	PUNCT
arjefm-94	17	16	history	history	NOUN
arjefm-94	17	17	repeats	repeat	VERB
arjefm-94	17	18	itself	itself	PRON
arjefm-94	17	19	.	.	PUNCT
arjefm-94	18	1	thus	thus	ADV
arjefm-94	18	2	,	,	PUNCT
arjefm-94	18	3	an	an	DET
arjefm-94	18	4	analysis	analysis	NOUN
arjefm-94	18	5	based	base	VERB
arjefm-94	18	6	on	on	ADP
arjefm-94	18	7	this	this	DET
arjefm-94	18	8	approach	approach	NOUN
arjefm-94	18	9	to	to	PART
arjefm-94	18	10	identify	identify	VERB
arjefm-94	18	11	patterns	pattern	NOUN
arjefm-94	18	12	can	can	AUX
arjefm-94	18	13	be	be	AUX
arjefm-94	18	14	used	use	VERB
arjefm-94	18	15	to	to	PART
arjefm-94	18	16	predict	predict	VERB
arjefm-94	18	17	future	future	ADJ
arjefm-94	18	18	behavior	behavior	NOUN
arjefm-94	18	19	of	of	ADP
arjefm-94	18	20	prices	price	NOUN
arjefm-94	18	21	and	and	CCONJ
arjefm-94	18	22	thus	thus	ADV
arjefm-94	18	23	increase	increase	VERB
arjefm-94	18	24	expected	expected	ADJ
arjefm-94	18	25	profits	profit	NOUN
arjefm-94	18	26	(	(	PUNCT
arjefm-94	18	27	murphy	murphy	NOUN
arjefm-94	18	28	,	,	PUNCT
arjefm-94	18	29	2000	2000	NUM
arjefm-94	18	30	)	)	PUNCT
arjefm-94	18	31	.	.	PUNCT
arjefm-94	19	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-94	20	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	21	1	american	american	PROPN
arjefm-94	21	2	research	research	PROPN
arjefm-94	21	3	journal	journal	PROPN
arjefm-94	21	4	of	of	ADP
arjefm-94	21	5	economics	economic	NOUN
arjefm-94	21	6	,	,	PUNCT
arjefm-94	21	7	finance	finance	NOUN
arjefm-94	21	8	and	and	CCONJ
arjefm-94	21	9	management	management	NOUN
arjefm-94	21	10	volume	volume	NOUN
arjefm-94	21	11	11	11	NUM
arjefm-94	21	12	issue	issue	NOUN
arjefm-94	21	13	4	4	NUM
arjefm-94	21	14	,	,	PUNCT
arjefm-94	21	15	october	october	PROPN
arjefm-94	21	16	-	-	PUNCT
arjefm-94	21	17	december	december	PROPN
arjefm-94	21	18	2023	2023	NUM
arjefm-94	21	19	issn	issn	NOUN
arjefm-94	21	20	:	:	PUNCT
arjefm-94	21	21	2836	2836	NUM
arjefm-94	21	22	-	-	SYM
arjefm-94	21	23	9416	9416	NUM
arjefm-94	21	24	impact	impact	NOUN
arjefm-94	21	25	factor	factor	NOUN
arjefm-94	21	26	:	:	PUNCT
arjefm-94	21	27	5.57	5.57	NUM
arjefm-94	21	28	journal	journal	NOUN
arjefm-94	21	29	homepage	homepage	NOUN
arjefm-94	21	30	:	:	PUNCT
arjefm-94	21	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	21	32	,	,	PUNCT
arjefm-94	21	33	email	email	NOUN
arjefm-94	21	34	:	:	PUNCT
arjefm-94	22	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	22	2	official	official	ADJ
arjefm-94	22	3	journal	journal	PROPN
arjefm-94	22	4	of	of	ADP
arjefm-94	22	5	america	america	PROPN
arjefm-94	22	6	serial	serial	PROPN
arjefm-94	22	7	publication	publication	NOUN
arjefm-94	22	8	american	american	PROPN
arjefm-94	22	9	research	research	PROPN
arjefm-94	22	10	journal	journal	PROPN
arjefm-94	22	11	of	of	ADP
arjefm-94	22	12	economics	economic	NOUN
arjefm-94	22	13	,	,	PUNCT
arjefm-94	22	14	finance	finance	NOUN
arjefm-94	22	15	and	and	CCONJ
arjefm-94	22	16	management	management	NOUN
arjefm-94	22	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	22	18	,	,	PUNCT
arjefm-94	22	19	email	email	NOUN
arjefm-94	22	20	:	:	PUNCT
arjefm-94	22	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	23	1	65	65	NUM
arjefm-94	24	1	|	|	ADV
arjefm-94	24	2	p	p	X
arjefm-94	24	3	a	a	DET
arjefm-94	24	4	g	g	NOUN
arjefm-94	24	5	e	e	NOUN
arjefm-94	24	6	in	in	ADP
arjefm-94	24	7	contrast	contrast	NOUN
arjefm-94	24	8	,	,	PUNCT
arjefm-94	24	9	theory	theory	NOUN
arjefm-94	24	10	of	of	ADP
arjefm-94	24	11	random	random	ADJ
arjefm-94	24	12	walks	walk	NOUN
arjefm-94	24	13	says	say	VERB
arjefm-94	24	14	that	that	SCONJ
arjefm-94	24	15	stock	stock	NOUN
arjefm-94	24	16	prices	price	NOUN
arjefm-94	24	17	are	be	AUX
arjefm-94	24	18	determined	determine	VERB
arjefm-94	24	19	in	in	ADP
arjefm-94	24	20	a	a	DET
arjefm-94	24	21	random	random	ADJ
arjefm-94	24	22	walk	walk	NOUN
arjefm-94	24	23	,	,	PUNCT
arjefm-94	24	24	its	its	PRON
arjefm-94	24	25	mean	mean	NOUN
arjefm-94	24	26	,	,	PUNCT
arjefm-94	24	27	can	can	AUX
arjefm-94	24	28	not	not	PART
arjefm-94	24	29	predict	predict	VERB
arjefm-94	24	30	future	future	ADJ
arjefm-94	24	31	prices	price	NOUN
arjefm-94	24	32	from	from	ADP
arjefm-94	24	33	past	past	ADJ
arjefm-94	24	34	prices	price	NOUN
arjefm-94	24	35	(	(	PUNCT
arjefm-94	24	36	fama	fama	NOUN
arjefm-94	24	37	,	,	PUNCT
arjefm-94	24	38	1965	1965	NUM
arjefm-94	24	39	)	)	PUNCT
arjefm-94	24	40	.	.	PUNCT
arjefm-94	25	1	in	in	ADP
arjefm-94	25	2	statistical	statistical	ADJ
arjefm-94	25	3	terms	term	NOUN
arjefm-94	25	4	,	,	PUNCT
arjefm-94	25	5	theory	theory	NOUN
arjefm-94	25	6	says	say	VERB
arjefm-94	25	7	that	that	SCONJ
arjefm-94	25	8	the	the	DET
arjefm-94	25	9	price	price	NOUN
arjefm-94	25	10	changes	change	NOUN
arjefm-94	25	11	are	be	AUX
arjefm-94	25	12	random	random	ADJ
arjefm-94	25	13	variables	variable	NOUN
arjefm-94	25	14	,	,	PUNCT
arjefm-94	25	15	independent	independent	ADJ
arjefm-94	25	16	and	and	CCONJ
arjefm-94	25	17	identically	identically	ADV
arjefm-94	25	18	distributed	distribute	VERB
arjefm-94	25	19	(	(	PUNCT
arjefm-94	25	20	johnston	johnston	PROPN
arjefm-94	25	21	&	&	CCONJ
arjefm-94	25	22	dinardo	dinardo	PROPN
arjefm-94	25	23	,	,	PUNCT
arjefm-94	25	24	1997	1997	NUM
arjefm-94	25	25	)	)	PUNCT
arjefm-94	25	26	.	.	PUNCT
arjefm-94	26	1	that	that	PRON
arjefm-94	26	2	is	be	AUX
arjefm-94	26	3	,	,	PUNCT
arjefm-94	26	4	past	past	ADJ
arjefm-94	26	5	prices	price	NOUN
arjefm-94	26	6	do	do	AUX
arjefm-94	26	7	not	not	PART
arjefm-94	26	8	provide	provide	VERB
arjefm-94	26	9	such	such	ADJ
arjefm-94	26	10	information	information	NOUN
arjefm-94	26	11	that	that	PRON
arjefm-94	26	12	can	can	AUX
arjefm-94	26	13	be	be	AUX
arjefm-94	26	14	used	use	VERB
arjefm-94	26	15	to	to	PART
arjefm-94	26	16	predict	predict	VERB
arjefm-94	26	17	future	future	ADJ
arjefm-94	26	18	prices	price	NOUN
arjefm-94	26	19	.	.	PUNCT
arjefm-94	27	1	fame	fame	NOUN
arjefm-94	27	2	(	(	PUNCT
arjefm-94	27	3	1970	1970	NUM
arjefm-94	27	4	)	)	PUNCT
arjefm-94	27	5	proposed	propose	VERB
arjefm-94	27	6	three	three	NUM
arjefm-94	27	7	levels	level	NOUN
arjefm-94	27	8	of	of	ADP
arjefm-94	27	9	market	market	NOUN
arjefm-94	27	10	efficiency	efficiency	NOUN
arjefm-94	27	11	with	with	ADP
arjefm-94	27	12	respect	respect	NOUN
arjefm-94	27	13	to	to	ADP
arjefm-94	27	14	the	the	DET
arjefm-94	27	15	information	information	NOUN
arjefm-94	27	16	reflected	reflect	VERB
arjefm-94	27	17	in	in	ADP
arjefm-94	27	18	prices	price	NOUN
arjefm-94	27	19	.	.	PUNCT
arjefm-94	28	1	the	the	DET
arjefm-94	28	2	weak	weak	ADJ
arjefm-94	28	3	form	form	NOUN
arjefm-94	28	4	holds	hold	VERB
arjefm-94	28	5	that	that	SCONJ
arjefm-94	28	6	the	the	DET
arjefm-94	28	7	history	history	NOUN
arjefm-94	28	8	of	of	ADP
arjefm-94	28	9	stock	stock	NOUN
arjefm-94	28	10	prices	price	NOUN
arjefm-94	28	11	does	do	AUX
arjefm-94	28	12	not	not	PART
arjefm-94	28	13	contain	contain	VERB
arjefm-94	28	14	information	information	NOUN
arjefm-94	28	15	that	that	PRON
arjefm-94	28	16	can	can	AUX
arjefm-94	28	17	be	be	AUX
arjefm-94	28	18	used	use	VERB
arjefm-94	28	19	to	to	PART
arjefm-94	28	20	obtain	obtain	VERB
arjefm-94	28	21	yields	yield	NOUN
arjefm-94	28	22	above	above	ADP
arjefm-94	28	23	which	which	PRON
arjefm-94	28	24	gives	give	VERB
arjefm-94	28	25	a	a	DET
arjefm-94	28	26	random	random	ADJ
arjefm-94	28	27	portfolio	portfolio	NOUN
arjefm-94	28	28	.	.	PUNCT
arjefm-94	29	1	therefore	therefore	ADV
arjefm-94	29	2	,	,	PUNCT
arjefm-94	29	3	in	in	ADP
arjefm-94	29	4	an	an	DET
arjefm-94	29	5	efficient	efficient	ADJ
arjefm-94	29	6	market	market	NOUN
arjefm-94	29	7	in	in	ADP
arjefm-94	29	8	its	its	PRON
arjefm-94	29	9	weak	weak	ADJ
arjefm-94	29	10	form	form	NOUN
arjefm-94	29	11	,	,	PUNCT
arjefm-94	29	12	prices	price	NOUN
arjefm-94	29	13	follow	follow	VERB
arjefm-94	29	14	a	a	DET
arjefm-94	29	15	random	random	ADJ
arjefm-94	29	16	walk	walk	NOUN
arjefm-94	29	17	.	.	PUNCT
arjefm-94	30	1	in	in	ADP
arjefm-94	30	2	semi	semi	ADJ
arjefm-94	30	3	-	-	ADJ
arjefm-94	30	4	strong	strong	ADJ
arjefm-94	30	5	market	market	NOUN
arjefm-94	30	6	efficiency	efficiency	NOUN
arjefm-94	30	7	prices	price	NOUN
arjefm-94	30	8	even	even	ADV
arjefm-94	30	9	reflect	reflect	VERB
arjefm-94	30	10	public	public	ADJ
arjefm-94	30	11	available	available	ADJ
arjefm-94	30	12	information	information	NOUN
arjefm-94	30	13	.	.	PUNCT
arjefm-94	31	1	with	with	ADP
arjefm-94	31	2	strong	strong	ADJ
arjefm-94	31	3	market	market	NOUN
arjefm-94	31	4	efficiency	efficiency	NOUN
arjefm-94	31	5	prices	price	NOUN
arjefm-94	31	6	add	add	VERB
arjefm-94	31	7	private	private	ADJ
arjefm-94	31	8	information	information	NOUN
arjefm-94	31	9	.	.	PUNCT
arjefm-94	32	1	fame	fame	NOUN
arjefm-94	32	2	(	(	PUNCT
arjefm-94	32	3	1970	1970	NUM
arjefm-94	32	4	)	)	PUNCT
arjefm-94	32	5	proposes	propose	VERB
arjefm-94	32	6	three	three	NUM
arjefm-94	32	7	levels	level	NOUN
arjefm-94	32	8	of	of	ADP
arjefm-94	32	9	markets	market	NOUN
arjefm-94	32	10	efficiency	efficiency	NOUN
arjefm-94	32	11	in	in	ADP
arjefm-94	32	12	relation	relation	NOUN
arjefm-94	32	13	to	to	ADP
arjefm-94	32	14	the	the	DET
arjefm-94	32	15	information	information	NOUN
arjefm-94	32	16	of	of	ADP
arjefm-94	32	17	prices	price	NOUN
arjefm-94	32	18	.	.	PUNCT
arjefm-94	33	1	the	the	DET
arjefm-94	33	2	weak	weak	ADJ
arjefm-94	33	3	form	form	NOUN
arjefm-94	33	4	sustains	sustain	VERB
arjefm-94	33	5	that	that	SCONJ
arjefm-94	33	6	the	the	DET
arjefm-94	33	7	track	track	NOUN
arjefm-94	33	8	record	record	NOUN
arjefm-94	33	9	of	of	ADP
arjefm-94	33	10	stock	stock	NOUN
arjefm-94	33	11	prices	price	NOUN
arjefm-94	33	12	does	do	AUX
arjefm-94	33	13	not	not	PART
arjefm-94	33	14	contain	contain	VERB
arjefm-94	33	15	information	information	NOUN
arjefm-94	33	16	that	that	PRON
arjefm-94	33	17	could	could	AUX
arjefm-94	33	18	be	be	AUX
arjefm-94	33	19	used	use	VERB
arjefm-94	33	20	to	to	PART
arjefm-94	33	21	obtain	obtain	VERB
arjefm-94	33	22	higher	high	ADJ
arjefm-94	33	23	yields	yield	NOUN
arjefm-94	33	24	than	than	ADP
arjefm-94	33	25	those	those	PRON
arjefm-94	33	26	obtained	obtain	VERB
arjefm-94	33	27	by	by	ADP
arjefm-94	33	28	a	a	DET
arjefm-94	33	29	portfolio	portfolio	NOUN
arjefm-94	33	30	of	of	ADP
arjefm-94	33	31	stocks	stock	NOUN
arjefm-94	33	32	,	,	PUNCT
arjefm-94	33	33	even	even	ADV
arjefm-94	33	34	taken	take	VERB
arjefm-94	33	35	at	at	ADP
arjefm-94	33	36	random	random	ADJ
arjefm-94	33	37	.	.	PUNCT
arjefm-94	34	1	hence	hence	ADV
arjefm-94	34	2	it	it	PRON
arjefm-94	34	3	is	be	AUX
arjefm-94	34	4	written	write	VERB
arjefm-94	34	5	that	that	SCONJ
arjefm-94	34	6	in	in	ADP
arjefm-94	34	7	an	an	DET
arjefm-94	34	8	efficient	efficient	ADJ
arjefm-94	34	9	market	market	NOUN
arjefm-94	34	10	in	in	ADP
arjefm-94	34	11	its	its	PRON
arjefm-94	34	12	weak	weak	ADJ
arjefm-94	34	13	form	form	NOUN
arjefm-94	34	14	,	,	PUNCT
arjefm-94	34	15	prices	price	NOUN
arjefm-94	34	16	follow	follow	VERB
arjefm-94	34	17	a	a	DET
arjefm-94	34	18	random	random	ADJ
arjefm-94	34	19	walk	walk	NOUN
arjefm-94	34	20	.	.	PUNCT
arjefm-94	35	1	a	a	DET
arjefm-94	35	2	market	market	NOUN
arjefm-94	35	3	have	have	VERB
arjefm-94	35	4	semistrong	semistrong	ADJ
arjefm-94	35	5	efficiency	efficiency	NOUN
arjefm-94	35	6	,	,	PUNCT
arjefm-94	35	7	whether	whether	SCONJ
arjefm-94	35	8	in	in	ADP
arjefm-94	35	9	addition	addition	NOUN
arjefm-94	35	10	the	the	DET
arjefm-94	35	11	above	above	ADJ
arjefm-94	35	12	,	,	PUNCT
arjefm-94	35	13	the	the	DET
arjefm-94	35	14	prices	price	NOUN
arjefm-94	35	15	reflect	reflect	VERB
arjefm-94	35	16	the	the	DET
arjefm-94	35	17	publicly	publicly	ADV
arjefm-94	35	18	available	available	ADJ
arjefm-94	35	19	information	information	NOUN
arjefm-94	35	20	.	.	PUNCT
arjefm-94	36	1	an	an	DET
arjefm-94	36	2	efficient	efficient	ADJ
arjefm-94	36	3	market	market	NOUN
arjefm-94	36	4	is	be	AUX
arjefm-94	36	5	strong	strong	ADJ
arjefm-94	36	6	,	,	PUNCT
arjefm-94	36	7	whether	whether	SCONJ
arjefm-94	36	8	in	in	ADP
arjefm-94	36	9	addition	addition	NOUN
arjefm-94	36	10	the	the	DET
arjefm-94	36	11	above	above	ADJ
arjefm-94	36	12	,	,	PUNCT
arjefm-94	36	13	the	the	DET
arjefm-94	36	14	prices	price	NOUN
arjefm-94	36	15	reflect	reflect	VERB
arjefm-94	36	16	private	private	ADJ
arjefm-94	36	17	information	information	NOUN
arjefm-94	36	18	.	.	PUNCT
arjefm-94	37	1	in	in	ADP
arjefm-94	37	2	order	order	NOUN
arjefm-94	37	3	to	to	PART
arjefm-94	37	4	verify	verify	VERB
arjefm-94	37	5	these	these	DET
arjefm-94	37	6	assertions	assertion	NOUN
arjefm-94	37	7	(	(	PUNCT
arjefm-94	37	8	despite	despite	SCONJ
arjefm-94	37	9	the	the	DET
arjefm-94	37	10	difficulty	difficulty	NOUN
arjefm-94	37	11	to	to	PART
arjefm-94	37	12	test	test	VERB
arjefm-94	37	13	the	the	DET
arjefm-94	37	14	semi	semi	ADJ
arjefm-94	37	15	-	-	ADJ
arjefm-94	37	16	strong	strong	ADJ
arjefm-94	37	17	and	and	CCONJ
arjefm-94	37	18	strong	strong	ADJ
arjefm-94	37	19	efficiency	efficiency	NOUN
arjefm-94	37	20	)	)	PUNCT
arjefm-94	37	21	some	some	DET
arjefm-94	37	22	statistical	statistical	ADJ
arjefm-94	37	23	tests	test	NOUN
arjefm-94	37	24	were	be	AUX
arjefm-94	37	25	developed	develop	VERB
arjefm-94	37	26	to	to	PART
arjefm-94	37	27	determine	determine	VERB
arjefm-94	37	28	whether	whether	SCONJ
arjefm-94	37	29	stock	stock	NOUN
arjefm-94	37	30	prices	price	NOUN
arjefm-94	37	31	follow	follow	VERB
arjefm-94	37	32	a	a	DET
arjefm-94	37	33	random	random	ADJ
arjefm-94	37	34	walk	walk	NOUN
arjefm-94	37	35	,	,	PUNCT
arjefm-94	37	36	example	example	NOUN
arjefm-94	37	37	of	of	ADP
arjefm-94	37	38	this	this	PRON
arjefm-94	37	39	is	be	AUX
arjefm-94	37	40	:	:	PUNCT
arjefm-94	37	41	serial	serial	ADJ
arjefm-94	37	42	correlation	correlation	NOUN
arjefm-94	37	43	analysis	analysis	NOUN
arjefm-94	37	44	,	,	PUNCT
arjefm-94	37	45	unit	unit	NOUN
arjefm-94	37	46	root	root	NOUN
arjefm-94	37	47	test	test	NOUN
arjefm-94	37	48	and	and	CCONJ
arjefm-94	37	49	the	the	DET
arjefm-94	37	50	variance	variance	NOUN
arjefm-94	37	51	ratio	ratio	NOUN
arjefm-94	37	52	.	.	PUNCT
arjefm-94	38	1	the	the	DET
arjefm-94	38	2	majority	majority	NOUN
arjefm-94	38	3	of	of	ADP
arjefm-94	38	4	the	the	DET
arjefm-94	38	5	researches	research	NOUN
arjefm-94	38	6	for	for	ADP
arjefm-94	38	7	developed	develop	VERB
arjefm-94	38	8	countries	country	NOUN
arjefm-94	38	9	and	and	CCONJ
arjefm-94	38	10	latin	latin	ADJ
arjefm-94	38	11	american	american	ADJ
arjefm-94	38	12	markets	market	NOUN
arjefm-94	38	13	(	(	PUNCT
arjefm-94	38	14	worthington	worthington	PROPN
arjefm-94	38	15	and	and	CCONJ
arjefm-94	38	16	higgs	higgs	PROPN
arjefm-94	38	17	,	,	PUNCT
arjefm-94	38	18	2006	2006	NUM
arjefm-94	38	19	;	;	PUNCT
arjefm-94	38	20	lópez	lópez	NOUN
arjefm-94	38	21	,	,	PUNCT
arjefm-94	38	22	1998	1998	NUM
arjefm-94	38	23	,	,	PUNCT
arjefm-94	38	24	2004	2004	NUM
arjefm-94	38	25	;	;	PUNCT
arjefm-94	38	26	ramírez	ramírez	NOUN
arjefm-94	38	27	,	,	PUNCT
arjefm-94	38	28	2002	2002	NUM
arjefm-94	38	29	)	)	PUNCT
arjefm-94	38	30	have	have	AUX
arjefm-94	38	31	found	find	VERB
arjefm-94	38	32	the	the	DET
arjefm-94	38	33	presence	presence	NOUN
arjefm-94	38	34	of	of	ADP
arjefm-94	38	35	autocorrelation	autocorrelation	NOUN
arjefm-94	38	36	of	of	ADP
arjefm-94	38	37	stock	stock	NOUN
arjefm-94	38	38	returns	return	NOUN
arjefm-94	38	39	,	,	PUNCT
arjefm-94	38	40	so	so	ADV
arjefm-94	38	41	random	random	ADJ
arjefm-94	38	42	walk	walk	NOUN
arjefm-94	38	43	hypothesis	hypothesis	NOUN
arjefm-94	38	44	it	it	PRON
arjefm-94	38	45	is	be	AUX
arjefm-94	38	46	rejected	reject	VERB
arjefm-94	38	47	.	.	PUNCT
arjefm-94	39	1	in	in	ADP
arjefm-94	39	2	the	the	DET
arjefm-94	39	3	last	last	ADJ
arjefm-94	39	4	twenty	twenty	NUM
arjefm-94	39	5	years	year	NOUN
arjefm-94	39	6	,	,	PUNCT
arjefm-94	39	7	several	several	ADJ
arjefm-94	39	8	time	time	NOUN
arjefm-94	39	9	series	series	NOUN
arjefm-94	39	10	models	model	NOUN
arjefm-94	39	11	have	have	AUX
arjefm-94	39	12	been	be	AUX
arjefm-94	39	13	proposed	propose	VERB
arjefm-94	39	14	to	to	PART
arjefm-94	39	15	represent	represent	VERB
arjefm-94	39	16	the	the	DET
arjefm-94	39	17	information	information	NOUN
arjefm-94	39	18	of	of	ADP
arjefm-94	39	19	generation	generation	NOUN
arjefm-94	39	20	process	process	NOUN
arjefm-94	39	21	on	on	ADP
arjefm-94	39	22	the	the	DET
arjefm-94	39	23	basis	basis	NOUN
arjefm-94	39	24	of	of	ADP
arjefm-94	39	25	characteristics	characteristic	NOUN
arjefm-94	39	26	of	of	ADP
arjefm-94	39	27	the	the	DET
arjefm-94	39	28	series	series	NOUN
arjefm-94	39	29	of	of	ADP
arjefm-94	39	30	interest	interest	NOUN
arjefm-94	39	31	,	,	PUNCT
arjefm-94	39	32	the	the	DET
arjefm-94	39	33	empirical	empirical	ADJ
arjefm-94	39	34	evidence	evidence	NOUN
arjefm-94	39	35	about	about	ADP
arjefm-94	39	36	behavioral	behavioral	ADJ
arjefm-94	39	37	and	and	CCONJ
arjefm-94	39	38	financial	financial	ADJ
arjefm-94	39	39	time	time	NOUN
arjefm-94	39	40	series	series	PROPN
arjefm-94	39	41	modeling	modeling	NOUN
arjefm-94	39	42	show	show	VERB
arjefm-94	39	43	a	a	DET
arjefm-94	39	44	more	more	ADV
arjefm-94	39	45	outstanding	outstanding	ADJ
arjefm-94	39	46	characteristic	characteristic	NOUN
arjefm-94	39	47	(	(	PUNCT
arjefm-94	39	48	fama	fama	NOUN
arjefm-94	39	49	,	,	PUNCT
arjefm-94	39	50	1965	1965	NUM
arjefm-94	39	51	;	;	PUNCT
arjefm-94	39	52	lamoureux	lamoureux	PROPN
arjefm-94	39	53	&	&	CCONJ
arjefm-94	39	54	lastrapes	lastrapes	PROPN
arjefm-94	39	55	,	,	PUNCT
arjefm-94	39	56	1990	1990	NUM
arjefm-94	39	57	;	;	PUNCT
arjefm-94	40	1	hassan	hassan	PROPN
arjefm-94	40	2	,	,	PUNCT
arjefm-94	40	3	islam	islam	PROPN
arjefm-94	40	4	&	&	CCONJ
arjefm-94	40	5	abul	abul	PROPN
arjefm-94	40	6	,	,	PUNCT
arjefm-94	40	7	2000	2000	NUM
arjefm-94	40	8	;	;	PUNCT
arjefm-94	40	9	geng	geng	PROPN
arjefm-94	40	10	,	,	PUNCT
arjefm-94	40	11	2006	2006	NUM
arjefm-94	40	12	;	;	PUNCT
arjefm-94	40	13	balaban	balaban	PROPN
arjefm-94	40	14	,	,	PUNCT
arjefm-94	40	15	bayar	bayar	PROPN
arjefm-94	40	16	&	&	CCONJ
arjefm-94	40	17	faff	faff	PROPN
arjefm-94	40	18	,	,	PUNCT
arjefm-94	40	19	2003	2003	NUM
arjefm-94	40	20	;	;	PUNCT
arjefm-94	40	21	ebeid	ebeid	NOUN
arjefm-94	40	22	&	&	CCONJ
arjefm-94	40	23	bedeir	bedeir	PROPN
arjefm-94	40	24	,	,	PUNCT
arjefm-94	40	25	2004	2004	NUM
arjefm-94	40	26	)	)	PUNCT
arjefm-94	40	27	,	,	PUNCT
arjefm-94	40	28	following	follow	VERB
arjefm-94	40	29	it	it	PRON
arjefm-94	40	30	describes	describe	VERB
arjefm-94	40	31	.	.	PUNCT
arjefm-94	41	1	i	i	PRON
arjefm-94	41	2	)	)	PUNCT
arjefm-94	41	3	variance	variance	NOUN
arjefm-94	41	4	of	of	ADP
arjefm-94	41	5	series	series	NOUN
arjefm-94	41	6	is	be	AUX
arjefm-94	41	7	not	not	PART
arjefm-94	41	8	constant	constant	ADJ
arjefm-94	41	9	along	along	ADP
arjefm-94	41	10	the	the	DET
arjefm-94	41	11	time	time	NOUN
arjefm-94	41	12	,	,	PUNCT
arjefm-94	41	13	which	which	PRON
arjefm-94	41	14	violates	violate	VERB
arjefm-94	41	15	the	the	DET
arjefm-94	41	16	assumption	assumption	NOUN
arjefm-94	41	17	of	of	ADP
arjefm-94	41	18	homoscedasticity	homoscedasticity	NOUN
arjefm-94	41	19	from	from	ADP
arjefm-94	41	20	traditional	traditional	ADJ
arjefm-94	41	21	models	model	NOUN
arjefm-94	41	22	.	.	PUNCT
arjefm-94	42	1	ii	ii	X
arjefm-94	42	2	)	)	PUNCT
arjefm-94	42	3	substantial	substantial	ADJ
arjefm-94	42	4	changes	change	NOUN
arjefm-94	42	5	and	and	CCONJ
arjefm-94	42	6	conditioned	condition	VERB
arjefm-94	42	7	volatility	volatility	NOUN
arjefm-94	42	8	clusters	cluster	NOUN
arjefm-94	42	9	in	in	ADP
arjefm-94	42	10	which	which	PRON
arjefm-94	42	11	the	the	DET
arjefm-94	42	12	volatility	volatility	NOUN
arjefm-94	42	13	is	be	AUX
arjefm-94	42	14	followed	follow	VERB
arjefm-94	42	15	by	by	ADP
arjefm-94	42	16	high	high	ADJ
arjefm-94	42	17	volatility	volatility	NOUN
arjefm-94	42	18	and	and	CCONJ
arjefm-94	42	19	low	low	ADJ
arjefm-94	42	20	volatility	volatility	NOUN
arjefm-94	42	21	is	be	AUX
arjefm-94	42	22	followed	follow	VERB
arjefm-94	42	23	by	by	ADP
arjefm-94	42	24	low	low	ADJ
arjefm-94	42	25	volatility	volatility	NOUN
arjefm-94	42	26	.	.	PUNCT
arjefm-94	43	1	this	this	DET
arjefm-94	43	2	behavior	behavior	NOUN
arjefm-94	43	3	suggests	suggest	VERB
arjefm-94	43	4	that	that	SCONJ
arjefm-94	43	5	the	the	DET
arjefm-94	43	6	volatility	volatility	NOUN
arjefm-94	43	7	of	of	ADP
arjefm-94	43	8	financial	financial	ADJ
arjefm-94	43	9	series	series	NOUN
arjefm-94	43	10	is	be	AUX
arjefm-94	43	11	determined	determine	VERB
arjefm-94	43	12	by	by	ADP
arjefm-94	43	13	an	an	DET
arjefm-94	43	14	autoregressive	autoregressive	ADJ
arjefm-94	43	15	process	process	NOUN
arjefm-94	43	16	(	(	PUNCT
arjefm-94	43	17	serial	serial	ADJ
arjefm-94	43	18	correlation	correlation	NOUN
arjefm-94	43	19	)	)	PUNCT
arjefm-94	43	20	and	and	CCONJ
arjefm-94	43	21	non	non	ADJ
arjefm-94	43	22	-	-	ADJ
arjefm-94	43	23	constant	constant	ADJ
arjefm-94	43	24	variance	variance	NOUN
arjefm-94	43	25	(	(	PUNCT
arjefm-94	43	26	heteroscedasticity	heteroscedasticity	NOUN
arjefm-94	43	27	)	)	PUNCT
arjefm-94	43	28	.	.	PUNCT
arjefm-94	44	1	iii	iii	X
arjefm-94	44	2	)	)	PUNCT
arjefm-94	44	3	the	the	DET
arjefm-94	44	4	distribution	distribution	NOUN
arjefm-94	44	5	of	of	ADP
arjefm-94	44	6	gains	gain	NOUN
arjefm-94	44	7	although	although	SCONJ
arjefm-94	44	8	centered	center	VERB
arjefm-94	44	9	in	in	ADP
arjefm-94	44	10	zero	zero	NUM
arjefm-94	44	11	show	show	NOUN
arjefm-94	44	12	lightweights	lightweight	NOUN
arjefm-94	44	13	bias	bias	NOUN
arjefm-94	44	14	and	and	CCONJ
arjefm-94	44	15	the	the	DET
arjefm-94	44	16	kurtosis	kurtosis	NOUN
arjefm-94	44	17	value	value	NOUN
arjefm-94	44	18	is	be	AUX
arjefm-94	44	19	greater	great	ADJ
arjefm-94	44	20	relative	relative	ADJ
arjefm-94	44	21	to	to	ADP
arjefm-94	44	22	standard	standard	ADJ
arjefm-94	44	23	normal	normal	ADJ
arjefm-94	44	24	(	(	PUNCT
arjefm-94	44	25	excess	excess	ADJ
arjefm-94	44	26	kurtosis	kurtosis	NOUN
arjefm-94	44	27	)	)	PUNCT
arjefm-94	44	28	,	,	PUNCT
arjefm-94	44	29	implying	imply	VERB
arjefm-94	44	30	biased	biased	ADJ
arjefm-94	44	31	results	result	NOUN
arjefm-94	44	32	when	when	SCONJ
arjefm-94	44	33	assuming	assume	VERB
arjefm-94	44	34	normality	normality	NOUN
arjefm-94	44	35	.	.	PUNCT
arjefm-94	45	1	iv	iv	X
arjefm-94	45	2	)	)	PUNCT
arjefm-94	45	3	volatility	volatility	NOUN
arjefm-94	45	4	effect	effect	NOUN
arjefm-94	45	5	on	on	ADP
arjefm-94	45	6	stock	stock	NOUN
arjefm-94	45	7	prices	price	NOUN
arjefm-94	45	8	.	.	PUNCT
arjefm-94	46	1	bad	bad	ADJ
arjefm-94	46	2	news	news	NOUN
arjefm-94	46	3	and	and	CCONJ
arjefm-94	46	4	good	good	ADJ
arjefm-94	46	5	news	news	NOUN
arjefm-94	46	6	affect	affect	VERB
arjefm-94	46	7	the	the	DET
arjefm-94	46	8	volatility	volatility	NOUN
arjefm-94	46	9	in	in	ADP
arjefm-94	46	10	different	different	ADJ
arjefm-94	46	11	ways	way	NOUN
arjefm-94	46	12	:	:	PUNCT
arjefm-94	46	13	the	the	DET
arjefm-94	46	14	first	first	ADJ
arjefm-94	46	15	ones	one	NOUN
arjefm-94	46	16	have	have	VERB
arjefm-94	46	17	greater	great	ADJ
arjefm-94	46	18	effect	effect	NOUN
arjefm-94	46	19	than	than	ADP
arjefm-94	46	20	the	the	DET
arjefm-94	46	21	seconds	second	NOUN
arjefm-94	46	22	’	'	PUNCT
arjefm-94	46	23	ones	one	NOUN
arjefm-94	46	24	,	,	PUNCT
arjefm-94	46	25	therefore	therefore	ADV
arjefm-94	46	26	,	,	PUNCT
arjefm-94	46	27	if	if	SCONJ
arjefm-94	46	28	the	the	DET
arjefm-94	46	29	volatility	volatility	NOUN
arjefm-94	46	30	incremented	incremente	VERB
arjefm-94	46	31	,	,	PUNCT
arjefm-94	46	32	prices	price	NOUN
arjefm-94	46	33	fall	fall	VERB
arjefm-94	46	34	and	and	CCONJ
arjefm-94	46	35	vice	vice	NOUN
arjefm-94	46	36	versa	versa	ADV
arjefm-94	46	37	,	,	PUNCT
arjefm-94	46	38	which	which	PRON
arjefm-94	46	39	allows	allow	VERB
arjefm-94	46	40	observing	observe	VERB
arjefm-94	46	41	a	a	DET
arjefm-94	46	42	negative	negative	ADJ
arjefm-94	46	43	correlation	correlation	NOUN
arjefm-94	46	44	.	.	PUNCT
arjefm-94	47	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-94	47	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	48	1	american	american	PROPN
arjefm-94	48	2	research	research	PROPN
arjefm-94	48	3	journal	journal	PROPN
arjefm-94	48	4	of	of	ADP
arjefm-94	48	5	economics	economic	NOUN
arjefm-94	48	6	,	,	PUNCT
arjefm-94	48	7	finance	finance	NOUN
arjefm-94	48	8	and	and	CCONJ
arjefm-94	48	9	management	management	NOUN
arjefm-94	48	10	volume	volume	NOUN
arjefm-94	48	11	11	11	NUM
arjefm-94	48	12	issue	issue	NOUN
arjefm-94	48	13	4	4	NUM
arjefm-94	48	14	,	,	PUNCT
arjefm-94	48	15	october	october	PROPN
arjefm-94	48	16	-	-	PUNCT
arjefm-94	48	17	december	december	PROPN
arjefm-94	48	18	2023	2023	NUM
arjefm-94	48	19	issn	issn	NOUN
arjefm-94	48	20	:	:	PUNCT
arjefm-94	48	21	2836	2836	NUM
arjefm-94	48	22	-	-	SYM
arjefm-94	48	23	9416	9416	NUM
arjefm-94	48	24	impact	impact	NOUN
arjefm-94	48	25	factor	factor	NOUN
arjefm-94	48	26	:	:	PUNCT
arjefm-94	48	27	5.57	5.57	NUM
arjefm-94	48	28	journal	journal	NOUN
arjefm-94	48	29	homepage	homepage	NOUN
arjefm-94	48	30	:	:	PUNCT
arjefm-94	48	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	48	32	,	,	PUNCT
arjefm-94	48	33	email	email	NOUN
arjefm-94	48	34	:	:	PUNCT
arjefm-94	49	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	49	2	official	official	ADJ
arjefm-94	49	3	journal	journal	PROPN
arjefm-94	49	4	of	of	ADP
arjefm-94	49	5	america	america	PROPN
arjefm-94	49	6	serial	serial	PROPN
arjefm-94	49	7	publication	publication	NOUN
arjefm-94	49	8	american	american	PROPN
arjefm-94	49	9	research	research	PROPN
arjefm-94	49	10	journal	journal	PROPN
arjefm-94	49	11	of	of	ADP
arjefm-94	49	12	economics	economic	NOUN
arjefm-94	49	13	,	,	PUNCT
arjefm-94	49	14	finance	finance	NOUN
arjefm-94	49	15	and	and	CCONJ
arjefm-94	49	16	management	management	NOUN
arjefm-94	49	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	49	18	,	,	PUNCT
arjefm-94	49	19	email	email	NOUN
arjefm-94	49	20	:	:	PUNCT
arjefm-94	49	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	50	1	66	66	NUM
arjefm-94	51	1	|	|	ADV
arjefm-94	51	2	p	p	NOUN
arjefm-94	51	3	a	a	DET
arjefm-94	51	4	g	g	NOUN
arjefm-94	51	5	e	e	NOUN
arjefm-94	51	6	the	the	DET
arjefm-94	51	7	above	above	ADJ
arjefm-94	51	8	results	result	NOUN
arjefm-94	51	9	show	show	VERB
arjefm-94	51	10	the	the	DET
arjefm-94	51	11	importance	importance	NOUN
arjefm-94	51	12	of	of	ADP
arjefm-94	51	13	modeling	model	VERB
arjefm-94	51	14	the	the	DET
arjefm-94	51	15	financial	financial	ADJ
arjefm-94	51	16	series	series	NOUN
arjefm-94	51	17	incorporating	incorporate	VERB
arjefm-94	51	18	volatility	volatility	NOUN
arjefm-94	51	19	(	(	PUNCT
arjefm-94	51	20	risk	risk	NOUN
arjefm-94	51	21	)	)	PUNCT
arjefm-94	51	22	.	.	PUNCT
arjefm-94	52	1	from	from	ADP
arjefm-94	52	2	engle	engle	PROPN
arjefm-94	52	3	(	(	PUNCT
arjefm-94	52	4	1982	1982	NUM
arjefm-94	52	5	)	)	PUNCT
arjefm-94	52	6	famous	famous	ADJ
arjefm-94	52	7	work	work	NOUN
arjefm-94	52	8	:	:	PUNCT
arjefm-94	52	9	autoregressive	autoregressive	ADJ
arjefm-94	52	10	conditional	conditional	ADJ
arjefm-94	52	11	heteroscedasticity	heteroscedasticity	NOUN
arjefm-94	52	12	with	with	ADP
arjefm-94	52	13	estimates	estimate	NOUN
arjefm-94	52	14	of	of	ADP
arjefm-94	52	15	the	the	DET
arjefm-94	52	16	variance	variance	NOUN
arjefm-94	52	17	of	of	ADP
arjefm-94	52	18	united	united	PROPN
arjefm-94	52	19	kingdom	kingdom	PROPN
arjefm-94	52	20	inflation	inflation	NOUN
arjefm-94	52	21	,	,	PUNCT
arjefm-94	52	22	a	a	DET
arjefm-94	52	23	family	family	NOUN
arjefm-94	52	24	of	of	ADP
arjefm-94	52	25	models	model	NOUN
arjefm-94	52	26	of	of	ADP
arjefm-94	52	27	autoregressive	autoregressive	ADJ
arjefm-94	52	28	conditional	conditional	ADJ
arjefm-94	52	29	heteroscedasticity	heteroscedasticity	NOUN
arjefm-94	52	30	(	(	PUNCT
arjefm-94	52	31	arch	arch	NOUN
arjefm-94	52	32	)	)	PUNCT
arjefm-94	52	33	have	have	AUX
arjefm-94	52	34	been	be	AUX
arjefm-94	52	35	developed	develop	VERB
arjefm-94	52	36	,	,	PUNCT
arjefm-94	52	37	mostly	mostly	ADV
arjefm-94	52	38	used	use	VERB
arjefm-94	52	39	to	to	PART
arjefm-94	52	40	explain	explain	VERB
arjefm-94	52	41	the	the	DET
arjefm-94	52	42	volatility	volatility	NOUN
arjefm-94	52	43	of	of	ADP
arjefm-94	52	44	financial	financial	ADJ
arjefm-94	52	45	yields	yield	NOUN
arjefm-94	52	46	.	.	PUNCT
arjefm-94	53	1	with	with	ADP
arjefm-94	53	2	regard	regard	NOUN
arjefm-94	53	3	to	to	ADP
arjefm-94	53	4	empirical	empirical	ADJ
arjefm-94	53	5	evidence	evidence	NOUN
arjefm-94	53	6	,	,	PUNCT
arjefm-94	53	7	there	there	PRON
arjefm-94	53	8	are	be	VERB
arjefm-94	53	9	a	a	DET
arjefm-94	53	10	large	large	ADJ
arjefm-94	53	11	number	number	NOUN
arjefm-94	53	12	of	of	ADP
arjefm-94	53	13	studies	study	NOUN
arjefm-94	53	14	that	that	PRON
arjefm-94	53	15	used	use	VERB
arjefm-94	53	16	arch	arch	NOUN
arjefm-94	53	17	models	model	NOUN
arjefm-94	53	18	to	to	PART
arjefm-94	53	19	analyze	analyze	VERB
arjefm-94	53	20	the	the	DET
arjefm-94	53	21	behavior	behavior	NOUN
arjefm-94	53	22	of	of	ADP
arjefm-94	53	23	volatility	volatility	NOUN
arjefm-94	53	24	.	.	PUNCT
arjefm-94	54	1	in	in	ADP
arjefm-94	54	2	particular	particular	ADJ
arjefm-94	54	3	,	,	PUNCT
arjefm-94	54	4	we	we	PRON
arjefm-94	54	5	identify	identify	VERB
arjefm-94	54	6	models	model	NOUN
arjefm-94	54	7	that	that	PRON
arjefm-94	54	8	are	be	AUX
arjefm-94	54	9	more	more	ADV
arjefm-94	54	10	predictive	predictive	ADJ
arjefm-94	54	11	for	for	ADP
arjefm-94	54	12	ex	ex	NOUN
arjefm-94	54	13	-	-	ADJ
arjefm-94	54	14	post	post	ADJ
arjefm-94	54	15	forecasts	forecast	NOUN
arjefm-94	54	16	.	.	PUNCT
arjefm-94	55	1	geng	geng	PROPN
arjefm-94	55	2	(	(	PUNCT
arjefm-94	55	3	2006	2006	NUM
arjefm-94	55	4	)	)	PUNCT
arjefm-94	55	5	applies	apply	VERB
arjefm-94	55	6	arch	arch	ADJ
arjefm-94	55	7	family	family	NOUN
arjefm-94	55	8	models	model	NOUN
arjefm-94	55	9	to	to	PART
arjefm-94	55	10	analyze	analyze	VERB
arjefm-94	55	11	the	the	DET
arjefm-94	55	12	characteristics	characteristic	NOUN
arjefm-94	55	13	of	of	ADP
arjefm-94	55	14	the	the	DET
arjefm-94	55	15	volatility	volatility	NOUN
arjefm-94	55	16	of	of	ADP
arjefm-94	55	17	the	the	DET
arjefm-94	55	18	chinese	chinese	ADJ
arjefm-94	55	19	stock	stock	NOUN
arjefm-94	55	20	market	market	NOUN
arjefm-94	55	21	.	.	PUNCT
arjefm-94	56	1	compares	compare	VERB
arjefm-94	56	2	several	several	ADJ
arjefm-94	56	3	models	model	NOUN
arjefm-94	56	4	by	by	ADP
arjefm-94	56	5	using	use	VERB
arjefm-94	56	6	standard	standard	ADJ
arjefm-94	56	7	criteria	criterion	NOUN
arjefm-94	56	8	and	and	CCONJ
arjefm-94	56	9	concludes	conclude	VERB
arjefm-94	56	10	that	that	SCONJ
arjefm-94	56	11	the	the	DET
arjefm-94	56	12	model	model	NOUN
arjefm-94	56	13	egarch	egarch	PROPN
arjefm-94	56	14	(	(	PUNCT
arjefm-94	56	15	1,1	1,1	NUM
arjefm-94	56	16	)	)	PUNCT
arjefm-94	56	17	and	and	CCONJ
arjefm-94	56	18	egarch	egarch	NOUN
arjefm-94	56	19	-	-	PUNCT
arjefm-94	56	20	m	m	PROPN
arjefm-94	56	21	model	model	NOUN
arjefm-94	56	22	(	(	PUNCT
arjefm-94	56	23	1.1	1.1	NUM
arjefm-94	56	24	)	)	PUNCT
arjefm-94	56	25	have	have	VERB
arjefm-94	56	26	the	the	DET
arjefm-94	56	27	same	same	ADJ
arjefm-94	56	28	efficiency	efficiency	NOUN
arjefm-94	56	29	to	to	PART
arjefm-94	56	30	forecast	forecast	VERB
arjefm-94	56	31	series	series	PROPN
arjefm-94	56	32	.	.	PUNCT
arjefm-94	57	1	ebeid	ebeid	PROPN
arjefm-94	57	2	&	&	CCONJ
arjefm-94	57	3	bedeir	bedeir	PROPN
arjefm-94	57	4	(	(	PUNCT
arjefm-94	57	5	2004	2004	NUM
arjefm-94	57	6	)	)	PUNCT
arjefm-94	57	7	evaluates	evaluate	VERB
arjefm-94	57	8	the	the	DET
arjefm-94	57	9	capacity	capacity	NOUN
arjefm-94	57	10	of	of	ADP
arjefm-94	57	11	arch	arch	ADJ
arjefm-94	57	12	models	model	NOUN
arjefm-94	57	13	to	to	PART
arjefm-94	57	14	forecast	forecast	VERB
arjefm-94	57	15	stock	stock	NOUN
arjefm-94	57	16	market	market	NOUN
arjefm-94	57	17	yields	yield	NOUN
arjefm-94	57	18	from	from	ADP
arjefm-94	57	19	egypt	egypt	PROPN
arjefm-94	57	20	and	and	CCONJ
arjefm-94	57	21	concludes	conclude	VERB
arjefm-94	57	22	that	that	SCONJ
arjefm-94	57	23	the	the	DET
arjefm-94	57	24	garch	garch	NOUN
arjefm-94	57	25	(	(	PUNCT
arjefm-94	57	26	1,1	1,1	NUM
arjefm-94	57	27	)	)	PUNCT
arjefm-94	57	28	model	model	NOUN
arjefm-94	57	29	is	be	AUX
arjefm-94	57	30	more	more	ADV
arjefm-94	57	31	appropriate	appropriate	ADJ
arjefm-94	57	32	for	for	ADP
arjefm-94	57	33	modeling	model	VERB
arjefm-94	57	34	the	the	DET
arjefm-94	57	35	volatility	volatility	NOUN
arjefm-94	57	36	of	of	ADP
arjefm-94	57	37	the	the	DET
arjefm-94	57	38	market	market	NOUN
arjefm-94	57	39	price	price	NOUN
arjefm-94	57	40	index	index	NOUN
arjefm-94	57	41	.	.	PUNCT
arjefm-94	58	1	ludlow	ludlow	PROPN
arjefm-94	58	2	and	and	CCONJ
arjefm-94	58	3	mota	mota	PROPN
arjefm-94	58	4	(	(	PUNCT
arjefm-94	58	5	2006	2006	NUM
arjefm-94	58	6	)	)	PUNCT
arjefm-94	58	7	analyzes	analyze	VERB
arjefm-94	58	8	the	the	DET
arjefm-94	58	9	financial	financial	ADJ
arjefm-94	58	10	markets	market	NOUN
arjefm-94	58	11	volatility	volatility	NOUN
arjefm-94	58	12	based	base	VERB
arjefm-94	58	13	on	on	ADP
arjefm-94	58	14	three	three	NUM
arjefm-94	58	15	indexes	index	NOUN
arjefm-94	58	16	(	(	PUNCT
arjefm-94	58	17	ipc	ipc	PROPN
arjefm-94	58	18	,	,	PUNCT
arjefm-94	58	19	nasdaq	nasdaq	PROPN
arjefm-94	58	20	,	,	PUNCT
arjefm-94	58	21	s	s	PROPN
arjefm-94	58	22	&	&	CCONJ
arjefm-94	58	23	p500	p500	NUM
arjefm-94	58	24	)	)	PUNCT
arjefm-94	58	25	using	use	VERB
arjefm-94	58	26	a	a	DET
arjefm-94	58	27	multivariate	multivariate	NOUN
arjefm-94	58	28	model	model	NOUN
arjefm-94	58	29	garch	garch	NOUN
arjefm-94	58	30	(	(	PUNCT
arjefm-94	58	31	1,1	1,1	NUM
arjefm-94	58	32	)	)	PUNCT
arjefm-94	58	33	and	and	CCONJ
arjefm-94	58	34	conclude	conclude	VERB
arjefm-94	58	35	that	that	SCONJ
arjefm-94	58	36	shocks	shock	NOUN
arjefm-94	58	37	derived	derive	VERB
arjefm-94	58	38	from	from	ADP
arjefm-94	58	39	bad	bad	ADJ
arjefm-94	58	40	news	news	NOUN
arjefm-94	58	41	have	have	VERB
arjefm-94	58	42	an	an	DET
arjefm-94	58	43	impact	impact	NOUN
arjefm-94	58	44	with	with	ADP
arjefm-94	58	45	more	more	ADJ
arjefm-94	58	46	force	force	NOUN
arjefm-94	58	47	on	on	ADP
arjefm-94	58	48	market	market	NOUN
arjefm-94	58	49	deeper	deep	ADJ
arjefm-94	58	50	.	.	PUNCT
arjefm-94	59	1	the	the	DET
arjefm-94	59	2	work	work	NOUN
arjefm-94	59	3	of	of	ADP
arjefm-94	59	4	lopez	lopez	NOUN
arjefm-94	59	5	(	(	PUNCT
arjefm-94	59	6	2004	2004	NUM
arjefm-94	59	7	)	)	PUNCT
arjefm-94	59	8	evaluates	evaluate	VERB
arjefm-94	59	9	the	the	DET
arjefm-94	59	10	contribution	contribution	NOUN
arjefm-94	59	11	of	of	ADP
arjefm-94	59	12	three	three	NUM
arjefm-94	59	13	models	model	NOUN
arjefm-94	59	14	of	of	ADP
arjefm-94	59	15	the	the	DET
arjefm-94	59	16	family	family	NOUN
arjefm-94	59	17	arch	arch	NOUN
arjefm-94	59	18	(	(	PUNCT
arjefm-94	59	19	garch	garch	NOUN
arjefm-94	59	20	(	(	PUNCT
arjefm-94	59	21	1,1	1,1	NUM
arjefm-94	59	22	)	)	PUNCT
arjefm-94	59	23	,	,	PUNCT
arjefm-94	59	24	tarch	tarch	NOUN
arjefm-94	59	25	(	(	PUNCT
arjefm-94	59	26	1,1	1,1	NUM
arjefm-94	59	27	)	)	PUNCT
arjefm-94	59	28	,	,	PUNCT
arjefm-94	59	29	egarch	egarch	NOUN
arjefm-94	59	30	(	(	PUNCT
arjefm-94	59	31	1,1	1,1	NUM
arjefm-94	59	32	)	)	PUNCT
arjefm-94	59	33	)	)	PUNCT
arjefm-94	59	34	,	,	PUNCT
arjefm-94	59	35	for	for	ADP
arjefm-94	59	36	modeling	model	VERB
arjefm-94	59	37	the	the	DET
arjefm-94	59	38	behavior	behavior	NOUN
arjefm-94	59	39	of	of	ADP
arjefm-94	59	40	the	the	DET
arjefm-94	59	41	mexican	mexican	ADJ
arjefm-94	59	42	stock	stock	NOUN
arjefm-94	59	43	market	market	NOUN
arjefm-94	59	44	based	base	VERB
arjefm-94	59	45	in	in	ADP
arjefm-94	59	46	the	the	DET
arjefm-94	59	47	ipc.the	ipc.the	DET
arjefm-94	59	48	criterion	criterion	NOUN
arjefm-94	59	49	used	use	VERB
arjefm-94	59	50	for	for	ADP
arjefm-94	59	51	the	the	DET
arjefm-94	59	52	evaluation	evaluation	NOUN
arjefm-94	59	53	was	be	AUX
arjefm-94	59	54	;	;	PUNCT
arjefm-94	59	55	verify	verify	VERB
arjefm-94	59	56	if	if	SCONJ
arjefm-94	59	57	the	the	DET
arjefm-94	59	58	forecasted	forecast	VERB
arjefm-94	59	59	values	value	NOUN
arjefm-94	59	60	of	of	ADP
arjefm-94	59	61	the	the	DET
arjefm-94	59	62	ipc	ipc	PROPN
arjefm-94	59	63	,	,	PUNCT
arjefm-94	59	64	once	once	ADV
arjefm-94	59	65	modeled	model	VERB
arjefm-94	59	66	the	the	DET
arjefm-94	59	67	volatility	volatility	NOUN
arjefm-94	59	68	,	,	PUNCT
arjefm-94	59	69	is	be	AUX
arjefm-94	59	70	capable	capable	ADJ
arjefm-94	59	71	of	of	ADP
arjefm-94	59	72	reproducing	reproduce	VERB
arjefm-94	59	73	the	the	DET
arjefm-94	59	74	first	first	ADJ
arjefm-94	59	75	four	four	NUM
arjefm-94	59	76	moments	moment	NOUN
arjefm-94	59	77	of	of	ADP
arjefm-94	59	78	the	the	DET
arjefm-94	59	79	distribution	distribution	NOUN
arjefm-94	59	80	of	of	ADP
arjefm-94	59	81	the	the	DET
arjefm-94	59	82	ipc	ipc	PROPN
arjefm-94	59	83	.	.	PROPN
arjefm-94	59	84	concludes	conclude	VERB
arjefm-94	59	85	that	that	SCONJ
arjefm-94	59	86	the	the	DET
arjefm-94	59	87	egarch	egarch	NOUN
arjefm-94	59	88	(	(	PUNCT
arjefm-94	59	89	1,1	1,1	NUM
arjefm-94	59	90	)	)	PUNCT
arjefm-94	59	91	has	have	VERB
arjefm-94	59	92	better	well	ADJ
arjefm-94	59	93	qualities	quality	NOUN
arjefm-94	59	94	to	to	PART
arjefm-94	59	95	predict	predict	VERB
arjefm-94	59	96	.	.	PUNCT
arjefm-94	60	1	the	the	DET
arjefm-94	60	2	purpose	purpose	NOUN
arjefm-94	60	3	of	of	ADP
arjefm-94	60	4	this	this	DET
arjefm-94	60	5	work	work	NOUN
arjefm-94	60	6	is	be	AUX
arjefm-94	60	7	to	to	PART
arjefm-94	60	8	analyze	analyze	VERB
arjefm-94	60	9	the	the	DET
arjefm-94	60	10	features	feature	NOUN
arjefm-94	60	11	of	of	ADP
arjefm-94	60	12	the	the	DET
arjefm-94	60	13	volatility	volatility	NOUN
arjefm-94	60	14	of	of	ADP
arjefm-94	60	15	the	the	DET
arjefm-94	60	16	stock	stock	NOUN
arjefm-94	60	17	market	market	NOUN
arjefm-94	60	18	in	in	ADP
arjefm-94	60	19	mexico	mexico	PROPN
arjefm-94	60	20	and	and	CCONJ
arjefm-94	60	21	identify	identify	VERB
arjefm-94	60	22	the	the	DET
arjefm-94	60	23	model	model	NOUN
arjefm-94	60	24	with	with	ADP
arjefm-94	60	25	the	the	DET
arjefm-94	60	26	best	good	ADJ
arjefm-94	60	27	predictive	predictive	ADJ
arjefm-94	60	28	ability	ability	NOUN
arjefm-94	60	29	.	.	PUNCT
arjefm-94	61	1	to	to	ADP
arjefm-94	61	2	this	this	DET
arjefm-94	61	3	end	end	NOUN
arjefm-94	61	4	,	,	PUNCT
arjefm-94	61	5	we	we	PRON
arjefm-94	61	6	apply	apply	VERB
arjefm-94	61	7	the	the	DET
arjefm-94	61	8	arch	arch	ADJ
arjefm-94	61	9	family	family	NOUN
arjefm-94	61	10	models	model	NOUN
arjefm-94	61	11	using	use	VERB
arjefm-94	61	12	daily	daily	ADJ
arjefm-94	61	13	returns	return	NOUN
arjefm-94	61	14	of	of	ADP
arjefm-94	61	15	the	the	DET
arjefm-94	61	16	mexican	mexican	ADJ
arjefm-94	61	17	stock	stock	PROPN
arjefm-94	61	18	market	market	NOUN
arjefm-94	61	19	index	index	NOUN
arjefm-94	61	20	.	.	PUNCT
arjefm-94	62	1	to	to	PART
arjefm-94	62	2	identify	identify	VERB
arjefm-94	62	3	the	the	DET
arjefm-94	62	4	model	model	NOUN
arjefm-94	62	5	with	with	ADP
arjefm-94	62	6	the	the	DET
arjefm-94	62	7	highest	high	ADJ
arjefm-94	62	8	predictive	predictive	ADJ
arjefm-94	62	9	ability	ability	NOUN
arjefm-94	62	10	,	,	PUNCT
arjefm-94	62	11	it	it	PRON
arjefm-94	62	12	follows	follow	VERB
arjefm-94	62	13	closely	closely	ADV
arjefm-94	62	14	the	the	DET
arjefm-94	62	15	work	work	NOUN
arjefm-94	62	16	of	of	ADP
arjefm-94	62	17	lopez	lopez	NOUN
arjefm-94	62	18	(	(	PUNCT
arjefm-94	62	19	2004	2004	NUM
arjefm-94	62	20	)	)	PUNCT
arjefm-94	62	21	.	.	PUNCT
arjefm-94	63	1	the	the	DET
arjefm-94	63	2	preparation	preparation	NOUN
arjefm-94	63	3	of	of	ADP
arjefm-94	63	4	this	this	DET
arjefm-94	63	5	exercise	exercise	NOUN
arjefm-94	63	6	was	be	AUX
arjefm-94	63	7	justified	justify	VERB
arjefm-94	63	8	by	by	ADP
arjefm-94	63	9	the	the	DET
arjefm-94	63	10	great	great	ADJ
arjefm-94	63	11	attention	attention	NOUN
arjefm-94	63	12	given	give	VERB
arjefm-94	63	13	the	the	DET
arjefm-94	63	14	volatility	volatility	NOUN
arjefm-94	63	15	term	term	NOUN
arjefm-94	63	16	,	,	PUNCT
arjefm-94	63	17	not	not	PART
arjefm-94	63	18	only	only	ADV
arjefm-94	63	19	by	by	ADP
arjefm-94	63	20	academics	academic	NOUN
arjefm-94	63	21	but	but	CCONJ
arjefm-94	63	22	also	also	ADV
arjefm-94	63	23	by	by	ADP
arjefm-94	63	24	investors	investor	NOUN
arjefm-94	63	25	in	in	ADP
arjefm-94	63	26	the	the	DET
arjefm-94	63	27	stock	stock	NOUN
arjefm-94	63	28	market	market	NOUN
arjefm-94	63	29	in	in	ADP
arjefm-94	63	30	mexico	mexico	PROPN
arjefm-94	63	31	which	which	PRON
arjefm-94	63	32	requires	require	VERB
arjefm-94	63	33	a	a	DET
arjefm-94	63	34	measure	measure	NOUN
arjefm-94	63	35	of	of	ADP
arjefm-94	63	36	risk	risk	NOUN
arjefm-94	63	37	when	when	SCONJ
arjefm-94	63	38	making	make	VERB
arjefm-94	63	39	transactions	transaction	NOUN
arjefm-94	63	40	.	.	PUNCT
arjefm-94	64	1	the	the	DET
arjefm-94	64	2	investment	investment	NOUN
arjefm-94	64	3	portfolio	portfolio	NOUN
arjefm-94	64	4	design	design	NOUN
arjefm-94	64	5	,	,	PUNCT
arjefm-94	64	6	the	the	DET
arjefm-94	64	7	fixing	fixing	NOUN
arjefm-94	64	8	of	of	ADP
arjefm-94	64	9	prices	price	NOUN
arjefm-94	64	10	,	,	PUNCT
arjefm-94	64	11	calculation	calculation	NOUN
arjefm-94	64	12	of	of	ADP
arjefm-94	64	13	value	value	NOUN
arjefm-94	64	14	at	at	ADP
arjefm-94	64	15	risk	risk	NOUN
arjefm-94	64	16	,	,	PUNCT
arjefm-94	64	17	and	and	CCONJ
arjefm-94	64	18	financial	financial	ADJ
arjefm-94	64	19	strategies	strategy	NOUN
arjefm-94	64	20	,	,	PUNCT
arjefm-94	64	21	justify	justify	VERB
arjefm-94	64	22	the	the	DET
arjefm-94	64	23	importance	importance	NOUN
arjefm-94	64	24	of	of	ADP
arjefm-94	64	25	modeling	modeling	NOUN
arjefm-94	64	26	and	and	CCONJ
arjefm-94	64	27	forecasting	forecast	VERB
arjefm-94	64	28	the	the	DET
arjefm-94	64	29	conditional	conditional	ADJ
arjefm-94	64	30	volatility	volatility	NOUN
arjefm-94	64	31	of	of	ADP
arjefm-94	64	32	returns	return	NOUN
arjefm-94	64	33	.	.	PUNCT
arjefm-94	65	1	the	the	DET
arjefm-94	65	2	main	main	ADJ
arjefm-94	65	3	conclusion	conclusion	NOUN
arjefm-94	65	4	of	of	ADP
arjefm-94	65	5	this	this	DET
arjefm-94	65	6	paper	paper	NOUN
arjefm-94	65	7	presents	present	VERB
arjefm-94	65	8	empirical	empirical	ADJ
arjefm-94	65	9	evidence	evidence	NOUN
arjefm-94	65	10	for	for	ADP
arjefm-94	65	11	egarch	egarch	NOUN
arjefm-94	65	12	models	model	NOUN
arjefm-94	65	13	for	for	ADP
arjefm-94	65	14	forecasting	forecasting	NOUN
arjefm-94	65	15	effects	effect	NOUN
arjefm-94	65	16	of	of	ADP
arjefm-94	65	17	ex	ex	NOUN
arjefm-94	65	18	-	-	NOUN
arjefm-94	65	19	post	post	NOUN
arjefm-94	65	20	.	.	PUNCT
arjefm-94	66	1	the	the	DET
arjefm-94	66	2	work	work	NOUN
arjefm-94	66	3	is	be	AUX
arjefm-94	66	4	organized	organize	VERB
arjefm-94	66	5	as	as	SCONJ
arjefm-94	66	6	follows	follow	VERB
arjefm-94	66	7	:	:	PUNCT
arjefm-94	66	8	second	second	ADJ
arjefm-94	66	9	section	section	NOUN
arjefm-94	66	10	presents	present	VERB
arjefm-94	66	11	the	the	DET
arjefm-94	66	12	theoretical	theoretical	ADJ
arjefm-94	66	13	conceptualization	conceptualization	NOUN
arjefm-94	66	14	of	of	ADP
arjefm-94	66	15	arch	arch	ADJ
arjefm-94	66	16	and	and	CCONJ
arjefm-94	66	17	garch	garch	NOUN
arjefm-94	66	18	models	model	NOUN
arjefm-94	66	19	of	of	ADP
arjefm-94	66	20	engle	engle	NOUN
arjefm-94	66	21	(	(	PUNCT
arjefm-94	66	22	1982	1982	NUM
arjefm-94	66	23	)	)	PUNCT
arjefm-94	66	24	,	,	PUNCT
arjefm-94	66	25	bollerslev	bollerslev	NOUN
arjefm-94	66	26	(	(	PUNCT
arjefm-94	66	27	1986	1986	NUM
arjefm-94	66	28	)	)	PUNCT
arjefm-94	66	29	,	,	PUNCT
arjefm-94	66	30	zakoian	zakoian	NOUN
arjefm-94	66	31	(	(	PUNCT
arjefm-94	66	32	1990	1990	NUM
arjefm-94	66	33	)	)	PUNCT
arjefm-94	66	34	and	and	CCONJ
arjefm-94	66	35	nelson	nelson	PROPN
arjefm-94	66	36	(	(	PUNCT
arjefm-94	66	37	1991	1991	NUM
arjefm-94	66	38	)	)	PUNCT
arjefm-94	66	39	.	.	PUNCT
arjefm-94	67	1	third	third	ADJ
arjefm-94	67	2	section	section	NOUN
arjefm-94	67	3	presents	present	VERB
arjefm-94	67	4	the	the	DET
arjefm-94	67	5	results	result	NOUN
arjefm-94	67	6	of	of	ADP
arjefm-94	67	7	the	the	DET
arjefm-94	67	8	estimation	estimation	NOUN
arjefm-94	67	9	,	,	PUNCT
arjefm-94	67	10	statistical	statistical	ADJ
arjefm-94	67	11	tests	test	NOUN
arjefm-94	67	12	and	and	CCONJ
arjefm-94	67	13	forecasts	forecast	NOUN
arjefm-94	67	14	.	.	PUNCT
arjefm-94	68	1	fourth	fourth	ADJ
arjefm-94	68	2	section	section	NOUN
arjefm-94	68	3	presents	present	VERB
arjefm-94	68	4	the	the	DET
arjefm-94	68	5	main	main	ADJ
arjefm-94	68	6	conclusions	conclusion	NOUN
arjefm-94	68	7	.	.	PUNCT
arjefm-94	69	1	2	2	X
arjefm-94	69	2	.	.	NUM
arjefm-94	69	3	models	model	NOUN
arjefm-94	69	4	to	to	PART
arjefm-94	69	5	capture	capture	VERB
arjefm-94	69	6	volatility	volatility	NOUN
arjefm-94	69	7	characteristics	characteristic	NOUN
arjefm-94	69	8	,	,	PUNCT
arjefm-94	69	9	robert	robert	PROPN
arjefm-94	69	10	engle	engle	PROPN
arjefm-94	69	11	(	(	PUNCT
arjefm-94	69	12	1982	1982	NUM
arjefm-94	69	13	)	)	PUNCT
arjefm-94	69	14	propose	propose	VERB
arjefm-94	69	15	to	to	PART
arjefm-94	69	16	model	model	VERB
arjefm-94	69	17	the	the	DET
arjefm-94	69	18	conditional	conditional	ADJ
arjefm-94	69	19	volatility	volatility	NOUN
arjefm-94	69	20	through	through	ADP
arjefm-94	69	21	a	a	DET
arjefm-94	69	22	conditional	conditional	ADJ
arjefm-94	69	23	heteroscedasticity	heteroscedasticity	NOUN
arjefm-94	69	24	autoregressive	autoregressive	ADJ
arjefm-94	69	25	process	process	NOUN
arjefm-94	69	26	(	(	PUNCT
arjefm-94	69	27	arch	arch	NOUN
arjefm-94	69	28	)	)	PUNCT
arjefm-94	69	29	in	in	ADP
arjefm-94	69	30	which	which	PRON
arjefm-94	69	31	the	the	DET
arjefm-94	69	32	process	process	NOUN
arjefm-94	69	33	mean	mean	VERB
arjefm-94	69	34	is	be	AUX
arjefm-94	69	35	zero	zero	NUM
arjefm-94	69	36	and	and	CCONJ
arjefm-94	69	37	variance	variance	NOUN
arjefm-94	69	38	dependent	dependent	ADJ
arjefm-94	69	39	on	on	ADP
arjefm-94	69	40	conditional	conditional	ADJ
arjefm-94	69	41	the	the	DET
arjefm-94	69	42	random	random	ADJ
arjefm-94	69	43	errors	error	NOUN
arjefm-94	69	44	passed	pass	VERB
arjefm-94	69	45	.	.	PUNCT
arjefm-94	70	1	however	however	ADV
arjefm-94	70	2	,	,	PUNCT
arjefm-94	70	3	empirical	empirical	ADJ
arjefm-94	70	4	evidence	evidence	NOUN
arjefm-94	70	5	shows	show	VERB
arjefm-94	70	6	that	that	SCONJ
arjefm-94	70	7	it	it	PRON
arjefm-94	70	8	requires	require	VERB
arjefm-94	70	9	a	a	DET
arjefm-94	70	10	large	large	ADJ
arjefm-94	70	11	amount	amount	NOUN
arjefm-94	70	12	of	of	ADP
arjefm-94	70	13	remnants	remnant	NOUN
arjefm-94	70	14	to	to	PART
arjefm-94	70	15	capture	capture	VERB
arjefm-94	70	16	the	the	DET
arjefm-94	70	17	dynamics	dynamic	NOUN
arjefm-94	70	18	of	of	ADP
arjefm-94	70	19	the	the	DET
arjefm-94	70	20	conditional	conditional	ADJ
arjefm-94	70	21	variance	variance	NOUN
arjefm-94	70	22	.	.	PUNCT
arjefm-94	71	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-94	71	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	72	1	american	american	PROPN
arjefm-94	72	2	research	research	PROPN
arjefm-94	72	3	journal	journal	PROPN
arjefm-94	72	4	of	of	ADP
arjefm-94	72	5	economics	economic	NOUN
arjefm-94	72	6	,	,	PUNCT
arjefm-94	72	7	finance	finance	NOUN
arjefm-94	72	8	and	and	CCONJ
arjefm-94	72	9	management	management	NOUN
arjefm-94	72	10	volume	volume	NOUN
arjefm-94	72	11	11	11	NUM
arjefm-94	72	12	issue	issue	NOUN
arjefm-94	72	13	4	4	NUM
arjefm-94	72	14	,	,	PUNCT
arjefm-94	72	15	october	october	PROPN
arjefm-94	72	16	-	-	PUNCT
arjefm-94	72	17	december	december	PROPN
arjefm-94	72	18	2023	2023	NUM
arjefm-94	72	19	issn	issn	NOUN
arjefm-94	72	20	:	:	PUNCT
arjefm-94	72	21	2836	2836	NUM
arjefm-94	72	22	-	-	SYM
arjefm-94	72	23	9416	9416	NUM
arjefm-94	72	24	impact	impact	NOUN
arjefm-94	72	25	factor	factor	NOUN
arjefm-94	72	26	:	:	PUNCT
arjefm-94	72	27	5.57	5.57	NUM
arjefm-94	72	28	journal	journal	NOUN
arjefm-94	72	29	homepage	homepage	NOUN
arjefm-94	72	30	:	:	PUNCT
arjefm-94	72	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	72	32	,	,	PUNCT
arjefm-94	72	33	email	email	NOUN
arjefm-94	72	34	:	:	PUNCT
arjefm-94	73	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	73	2	official	official	ADJ
arjefm-94	73	3	journal	journal	PROPN
arjefm-94	73	4	of	of	ADP
arjefm-94	73	5	america	america	PROPN
arjefm-94	73	6	serial	serial	PROPN
arjefm-94	73	7	publication	publication	NOUN
arjefm-94	73	8	american	american	PROPN
arjefm-94	73	9	research	research	PROPN
arjefm-94	73	10	journal	journal	PROPN
arjefm-94	73	11	of	of	ADP
arjefm-94	73	12	economics	economic	NOUN
arjefm-94	73	13	,	,	PUNCT
arjefm-94	73	14	finance	finance	NOUN
arjefm-94	73	15	and	and	CCONJ
arjefm-94	73	16	management	management	NOUN
arjefm-94	73	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	73	18	,	,	PUNCT
arjefm-94	73	19	email	email	NOUN
arjefm-94	73	20	:	:	PUNCT
arjefm-94	73	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	74	1	67	67	NUM
arjefm-94	75	1	|	|	ADV
arjefm-94	75	2	p	p	NOUN
arjefm-94	75	3	a	a	DET
arjefm-94	75	4	g	g	NOUN
arjefm-94	75	5	e	e	NOUN
arjefm-94	75	6	bollerslev	bollerslev	NOUN
arjefm-94	75	7	(	(	PUNCT
arjefm-94	75	8	1986	1986	NUM
arjefm-94	75	9	)	)	PUNCT
arjefm-94	75	10	developed	develop	VERB
arjefm-94	75	11	a	a	DET
arjefm-94	75	12	special	special	ADJ
arjefm-94	75	13	technique	technique	NOUN
arjefm-94	75	14	using	use	VERB
arjefm-94	75	15	an	an	DET
arjefm-94	75	16	arma	arma	NOUN
arjefm-94	75	17	process	process	NOUN
arjefm-94	75	18	to	to	ADP
arjefm-94	75	19	the	the	DET
arjefm-94	75	20	conditional	conditional	ADJ
arjefm-94	75	21	variance	variance	NOUN
arjefm-94	75	22	of	of	ADP
arjefm-94	75	23	errors	error	NOUN
arjefm-94	75	24	called	call	VERB
arjefm-94	75	25	garch	garch	NOUN
arjefm-94	75	26	(	(	PUNCT
arjefm-94	75	27	p	p	X
arjefm-94	75	28	,	,	PUNCT
arjefm-94	75	29	q	q	NOUN
arjefm-94	75	30	)	)	PUNCT
arjefm-94	75	31	which	which	PRON
arjefm-94	75	32	has	have	VERB
arjefm-94	75	33	an	an	DET
arjefm-94	75	34	autoregressive	autoregressive	ADJ
arjefm-94	75	35	component	component	NOUN
arjefm-94	75	36	and	and	CCONJ
arjefm-94	75	37	moving	move	VERB
arjefm-94	75	38	average	average	ADJ
arjefm-94	75	39	on	on	ADP
arjefm-94	75	40	heteroscedastic	heteroscedastic	ADJ
arjefm-94	75	41	variance	variance	NOUN
arjefm-94	75	42	.	.	PUNCT
arjefm-94	76	1	the	the	DET
arjefm-94	76	2	advantage	advantage	NOUN
arjefm-94	76	3	of	of	ADP
arjefm-94	76	4	garch	garch	NOUN
arjefm-94	76	5	about	about	ADP
arjefm-94	76	6	the	the	DET
arjefm-94	76	7	arch	arch	ADJ
arjefm-94	76	8	model	model	NOUN
arjefm-94	76	9	is	be	AUX
arjefm-94	76	10	that	that	SCONJ
arjefm-94	76	11	the	the	DET
arjefm-94	76	12	garch	garch	NOUN
arjefm-94	76	13	model	model	NOUN
arjefm-94	76	14	could	could	AUX
arjefm-94	76	15	to	to	PART
arjefm-94	76	16	have	have	VERB
arjefm-94	76	17	more	more	ADJ
arjefm-94	76	18	parsimony	parsimony	NOUN
arjefm-94	76	19	and	and	CCONJ
arjefm-94	76	20	representation	representation	NOUN
arjefm-94	76	21	that	that	SCONJ
arjefm-94	76	22	it	it	PRON
arjefm-94	76	23	is	be	AUX
arjefm-94	76	24	easier	easy	ADJ
arjefm-94	76	25	identify	identify	VERB
arjefm-94	76	26	and	and	CCONJ
arjefm-94	76	27	estimate	estimate	VERB
arjefm-94	76	28	.	.	PUNCT
arjefm-94	77	1	the	the	DET
arjefm-94	77	2	garch	garch	NOUN
arjefm-94	77	3	model	model	NOUN
arjefm-94	77	4	is	be	AUX
arjefm-94	77	5	denoted	denote	VERB
arjefm-94	77	6	as	as	SCONJ
arjefm-94	77	7	follows	follow	VERB
arjefm-94	77	8	:	:	PUNCT
arjefm-94	77	9	y	y	PROPN
arjefm-94	77	10	t	t	PROPN
arjefm-94	77	11	x	x	SYM
arjefm-94	77	12	t	t	PROPN
arjefm-94	77	13	t	t	PROPN
arjefm-94	77	14	(	(	PUNCT
arjefm-94	77	15	1	1	X
arjefm-94	77	16	)	)	PUNCT
arjefm-94	77	17	t	t	PROPN
arjefm-94	77	18	vt	vt	PROPN
arjefm-94	77	19	t	t	PROPN
arjefm-94	77	20	2	2	NUM
arjefm-94	77	21	(	(	PUNCT
arjefm-94	77	22	2	2	NUM
arjefm-94	77	23	)	)	PUNCT
arjefm-94	77	24	where	where	SCONJ
arjefm-94	77	25	:	:	PUNCT
arjefm-94	77	26	v2	v2	NOUN
arjefm-94	77	27	1	1	NUM
arjefm-94	77	28	,	,	PUNCT
arjefm-94	77	29	(	(	PUNCT
arjefm-94	77	30	3	3	NUM
arjefm-94	77	31	)	)	PUNCT
arjefm-94	77	32	and	and	CCONJ
arjefm-94	77	33	to	to	ADP
arjefm-94	77	34	model	model	NOUN
arjefm-94	77	35	garch	garch	NOUN
arjefm-94	77	36	(	(	PUNCT
arjefm-94	77	37	1,1	1,1	NUM
arjefm-94	77	38	)	)	PUNCT
arjefm-94	77	39	t2	t2	NOUN
arjefm-94	77	40	0	0	NUM
arjefm-94	77	41	1	1	NUM
arjefm-94	77	42	t2	t2	NOUN
arjefm-94	77	43	1	1	NUM
arjefm-94	77	44	1	1	NUM
arjefm-94	77	45	t2	t2	NOUN
arjefm-94	77	46	1	1	NUM
arjefm-94	77	47	(	(	PUNCT
arjefm-94	77	48	4	4	NUM
arjefm-94	77	49	)	)	PUNCT
arjefm-94	77	50	v	v	ADP
arjefm-94	77	51	t	t	NOUN
arjefm-94	77	52	like	like	INTJ
arjefm-94	77	53	in	in	ADP
arjefm-94	77	54	the	the	DET
arjefm-94	77	55	arch	arch	ADJ
arjefm-94	77	56	model	model	NOUN
arjefm-94	77	57	,	,	PUNCT
arjefm-94	77	58	is	be	AUX
arjefm-94	77	59	white	white	ADJ
arjefm-94	77	60	noise	noise	NOUN
arjefm-94	77	61	process	process	NOUN
arjefm-94	77	62	which	which	PRON
arjefm-94	77	63	is	be	AUX
arjefm-94	77	64	independent	independent	ADJ
arjefm-94	77	65	t	t	X
arjefm-94	77	66	i	i	PRON
arjefm-94	77	67	from	from	ADP
arjefm-94	77	68	the	the	DET
arjefm-94	77	69	past	past	ADJ
arjefm-94	77	70	achievements	achievement	NOUN
arjefm-94	77	71	of	of	ADP
arjefm-94	77	72	.	.	PUNCT
arjefm-94	78	1	the	the	DET
arjefm-94	78	2	conditions	condition	NOUN
arjefm-94	78	3	over	over	ADP
arjefm-94	78	4	the	the	DET
arjefm-94	78	5	parameters	parameter	NOUN
arjefm-94	78	6	that	that	PRON
arjefm-94	78	7	guarantee	guarantee	VERB
arjefm-94	78	8	0	0	NUM
arjefm-94	78	9	0	0	NUM
arjefm-94	78	10	,	,	PUNCT
arjefm-94	78	11	1	1	NUM
arjefm-94	78	12	1	1	NUM
arjefm-94	78	13	1	1	NUM
arjefm-94	78	14	the	the	DET
arjefm-94	78	15	stability	stability	NOUN
arjefm-94	78	16	of	of	ADP
arjefm-94	78	17	the	the	DET
arjefm-94	78	18	model	model	NOUN
arjefm-94	78	19	are	be	AUX
arjefm-94	78	20	:	:	PUNCT
arjefm-94	78	21	.	.	PUNCT
arjefm-94	78	22	0	0	PUNCT
arjefm-94	79	1	the	the	DET
arjefm-94	79	2	conditional	conditional	ADJ
arjefm-94	79	3	variance	variance	NOUN
arjefm-94	79	4	depends	depend	VERB
arjefm-94	79	5	upon	upon	SCONJ
arjefm-94	79	6	three	three	NUM
arjefm-94	79	7	terms	term	NOUN
arjefm-94	79	8	:	:	PUNCT
arjefm-94	79	9	the	the	DET
arjefm-94	79	10	mean	mean	NOUN
arjefm-94	79	11	,	,	PUNCT
arjefm-94	79	12	information	information	NOUN
arjefm-94	79	13	on	on	ADP
arjefm-94	79	14	the	the	DET
arjefm-94	79	15	volatility	volatility	NOUN
arjefm-94	79	16	of	of	ADP
arjefm-94	79	17	the	the	DET
arjefm-94	79	18	previous	previous	ADJ
arjefm-94	79	19	period	period	NOUN
arjefm-94	79	20	measured	measure	VERB
arjefm-94	79	21	by	by	ADP
arjefm-94	79	22	the	the	DET
arjefm-94	79	23	lag	lag	NOUN
arjefm-94	79	24	of	of	ADP
arjefm-94	79	25	the	the	DET
arjefm-94	79	26	squared	square	VERB
arjefm-94	79	27	residuals	residual	NOUN
arjefm-94	79	28	(	(	PUNCT
arjefm-94	79	29	arch	arch	ADJ
arjefm-94	79	30	term	term	NOUN
arjefm-94	79	31	)	)	PUNCT
arjefm-94	79	32	obtained	obtain	VERB
arjefm-94	79	33	from	from	ADP
arjefm-94	79	34	equation	equation	NOUN
arjefm-94	79	35	1	1	NUM
arjefm-94	79	36	)	)	PUNCT
arjefm-94	79	37	;	;	PUNCT
arjefm-94	79	38	and	and	CCONJ
arjefm-94	79	39	the	the	DET
arjefm-94	79	40	last	last	ADJ
arjefm-94	79	41	period	period	NOUN
arjefm-94	79	42	forecast	forecast	NOUN
arjefm-94	79	43	variance	variance	NOUN
arjefm-94	79	44	(	(	PUNCT
arjefm-94	79	45	garch	garch	NOUN
arjefm-94	79	46	term	term	NOUN
arjefm-94	79	47	)	)	PUNCT
arjefm-94	79	48	.	.	PUNCT
arjefm-94	80	1	garch	garch	NOUN
arjefm-94	80	2	model	model	NOUN
arjefm-94	80	3	(	(	PUNCT
arjefm-94	80	4	p	p	X
arjefm-94	80	5	,	,	PUNCT
arjefm-94	80	6	q	q	X
arjefm-94	80	7	)	)	PUNCT
arjefm-94	80	8	is	be	AUX
arjefm-94	80	9	:	:	PUNCT
arjefm-94	80	10	v	v	X
arjefm-94	80	11	2	2	NUM
arjefm-94	80	12	t	t	NOUN
arjefm-94	80	13	t	t	NOUN
arjefm-94	80	14	t	t	PROPN
arjefm-94	80	15	(	(	PUNCT
arjefm-94	80	16	5	5	NUM
arjefm-94	80	17	)	)	PUNCT
arjefm-94	80	18	q	q	NOUN
arjefm-94	81	1	p	p	NOUN
arjefm-94	81	2	t2	t2	PROPN
arjefm-94	81	3	0	0	PUNCT
arjefm-94	82	1	i	i	PRON
arjefm-94	82	2	t2	t2	VERB
arjefm-94	83	1	i	i	PRON
arjefm-94	83	2	j	j	PROPN
arjefm-94	84	1	t2	t2	PROPN
arjefm-94	84	2	j	j	PROPN
arjefm-94	84	3	i	i	PRON
arjefm-94	84	4	1	1	NUM
arjefm-94	84	5	i	i	NOUN
arjefm-94	84	6	1	1	NUM
arjefm-94	84	7	(	(	PUNCT
arjefm-94	84	8	6	6	NUM
arjefm-94	84	9	)	)	PUNCT
arjefm-94	84	10	the	the	DET
arjefm-94	84	11	conditions	condition	NOUN
arjefm-94	84	12	on	on	ADP
arjefm-94	84	13	parameters	parameter	NOUN
arjefm-94	84	14	are	be	AUX
arjefm-94	84	15	:	:	PUNCT
arjefm-94	84	16	0	0	NUM
arjefm-94	84	17	0	0	NUM
arjefm-94	84	18	,	,	PUNCT
arjefm-94	84	19	i	i	PRON
arjefm-94	84	20	0	0	NUM
arjefm-94	84	21	,	,	PUNCT
arjefm-94	84	22	j	j	PROPN
arjefm-94	84	23	0	0	NUM
arjefm-94	84	24	1	1	NUM
arjefm-94	84	25	2	2	NUM
arjefm-94	84	26	q	q	NOUN
arjefm-94	84	27	1	1	NUM
arjefm-94	84	28	2	2	NUM
arjefm-94	84	29	p	p	NOUN
arjefm-94	84	30	1	1	NUM
arjefm-94	84	31	,	,	PUNCT
arjefm-94	84	32	(	(	PUNCT
arjefm-94	84	33	7	7	NUM
arjefm-94	84	34	)	)	PUNCT
arjefm-94	84	35	despite	despite	SCONJ
arjefm-94	84	36	the	the	DET
arjefm-94	84	37	fact	fact	NOUN
arjefm-94	84	38	that	that	SCONJ
arjefm-94	84	39	garch	garch	NOUN
arjefm-94	84	40	model	model	NOUN
arjefm-94	84	41	is	be	AUX
arjefm-94	84	42	used	use	VERB
arjefm-94	84	43	to	to	PART
arjefm-94	84	44	forecast	forecast	VERB
arjefm-94	84	45	volatility	volatility	NOUN
arjefm-94	84	46	and	and	CCONJ
arjefm-94	84	47	determine	determine	VERB
arjefm-94	84	48	the	the	DET
arjefm-94	84	49	behavior	behavior	NOUN
arjefm-94	84	50	of	of	ADP
arjefm-94	84	51	prices	price	NOUN
arjefm-94	84	52	,	,	PUNCT
arjefm-94	84	53	there	there	PRON
arjefm-94	84	54	are	be	VERB
arjefm-94	84	55	situations	situation	NOUN
arjefm-94	84	56	that	that	PRON
arjefm-94	84	57	garch	garch	NOUN
arjefm-94	84	58	model	model	NOUN
arjefm-94	84	59	can	can	AUX
arjefm-94	84	60	not	not	PART
arjefm-94	84	61	explain	explain	VERB
arjefm-94	84	62	.	.	PUNCT
arjefm-94	85	1	the	the	DET
arjefm-94	85	2	biggest	big	ADJ
arjefm-94	85	3	problem	problem	NOUN
arjefm-94	85	4	is	be	AUX
arjefm-94	85	5	that	that	SCONJ
arjefm-94	85	6	standard	standard	ADJ
arjefm-94	85	7	garch	garch	NOUN
arjefm-94	85	8	models	model	NOUN
arjefm-94	85	9	assume	assume	VERB
arjefm-94	85	10	that	that	SCONJ
arjefm-94	85	11	the	the	DET
arjefm-94	85	12	error	error	NOUN
arjefm-94	85	13	terms	term	VERB
arjefm-94	85	14	positive	positive	ADJ
arjefm-94	85	15	and	and	CCONJ
arjefm-94	85	16	negative	negative	ADJ
arjefm-94	85	17	have	have	VERB
arjefm-94	85	18	the	the	DET
arjefm-94	85	19	same	same	ADJ
arjefm-94	85	20	symmetrical	symmetrical	ADJ
arjefm-94	85	21	effects	effect	NOUN
arjefm-94	85	22	on	on	ADP
arjefm-94	85	23	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	85	24	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	85	25	american	american	PROPN
arjefm-94	85	26	research	research	PROPN
arjefm-94	85	27	journal	journal	PROPN
arjefm-94	85	28	of	of	ADP
arjefm-94	85	29	economics	economic	NOUN
arjefm-94	85	30	,	,	PUNCT
arjefm-94	85	31	finance	finance	NOUN
arjefm-94	85	32	and	and	CCONJ
arjefm-94	85	33	management	management	NOUN
arjefm-94	85	34	volume	volume	NOUN
arjefm-94	85	35	11	11	NUM
arjefm-94	85	36	issue	issue	NOUN
arjefm-94	85	37	4	4	NUM
arjefm-94	85	38	,	,	PUNCT
arjefm-94	85	39	october	october	PROPN
arjefm-94	85	40	-	-	PUNCT
arjefm-94	85	41	december	december	PROPN
arjefm-94	85	42	2023	2023	NUM
arjefm-94	85	43	issn	issn	NOUN
arjefm-94	85	44	:	:	PUNCT
arjefm-94	85	45	2836	2836	NUM
arjefm-94	85	46	-	-	SYM
arjefm-94	85	47	9416	9416	NUM
arjefm-94	85	48	impact	impact	NOUN
arjefm-94	85	49	factor	factor	NOUN
arjefm-94	85	50	:	:	PUNCT
arjefm-94	85	51	5.57	5.57	NUM
arjefm-94	85	52	journal	journal	NOUN
arjefm-94	85	53	homepage	homepage	NOUN
arjefm-94	85	54	:	:	PUNCT
arjefm-94	85	55	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	85	56	,	,	PUNCT
arjefm-94	85	57	email	email	NOUN
arjefm-94	85	58	:	:	PUNCT
arjefm-94	85	59	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	85	60	official	official	ADJ
arjefm-94	85	61	journal	journal	PROPN
arjefm-94	85	62	of	of	ADP
arjefm-94	85	63	america	america	PROPN
arjefm-94	85	64	serial	serial	PROPN
arjefm-94	85	65	publication	publication	NOUN
arjefm-94	85	66	american	american	PROPN
arjefm-94	85	67	research	research	PROPN
arjefm-94	85	68	journal	journal	PROPN
arjefm-94	85	69	of	of	ADP
arjefm-94	85	70	economics	economic	NOUN
arjefm-94	85	71	,	,	PUNCT
arjefm-94	85	72	finance	finance	NOUN
arjefm-94	85	73	and	and	CCONJ
arjefm-94	85	74	management	management	NOUN
arjefm-94	85	75	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	85	76	,	,	PUNCT
arjefm-94	85	77	email	email	NOUN
arjefm-94	85	78	:	:	PUNCT
arjefm-94	86	1	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	86	2	68	68	NUM
arjefm-94	87	1	|	|	ADV
arjefm-94	87	2	p	p	NOUN
arjefm-94	87	3	a	a	DET
arjefm-94	87	4	g	g	NOUN
arjefm-94	87	5	e	e	NOUN
arjefm-94	87	6	volatility	volatility	NOUN
arjefm-94	87	7	.	.	PUNCT
arjefm-94	88	1	that	that	PRON
arjefm-94	88	2	is	be	AUX
arjefm-94	88	3	,	,	PUNCT
arjefm-94	88	4	good	good	ADJ
arjefm-94	88	5	news	news	NOUN
arjefm-94	88	6	and	and	CCONJ
arjefm-94	88	7	bad	bad	ADJ
arjefm-94	88	8	news	news	NOUN
arjefm-94	88	9	have	have	VERB
arjefm-94	88	10	the	the	DET
arjefm-94	88	11	same	same	ADJ
arjefm-94	88	12	effect	effect	NOUN
arjefm-94	88	13	on	on	ADP
arjefm-94	88	14	volatility	volatility	NOUN
arjefm-94	88	15	in	in	ADP
arjefm-94	88	16	this	this	DET
arjefm-94	88	17	model	model	NOUN
arjefm-94	88	18	.	.	PUNCT
arjefm-94	89	1	the	the	DET
arjefm-94	89	2	exponential	exponential	ADJ
arjefm-94	89	3	garch	garch	NOUN
arjefm-94	89	4	(	(	PUNCT
arjefm-94	89	5	egarch	egarch	NOUN
arjefm-94	89	6	)	)	PUNCT
arjefm-94	89	7	and	and	CCONJ
arjefm-94	89	8	threshold	threshold	VERB
arjefm-94	89	9	arch	arch	NOUN
arjefm-94	89	10	model	model	NOUN
arjefm-94	89	11	(	(	PUNCT
arjefm-94	89	12	tarch	tarch	NOUN
arjefm-94	89	13	)	)	PUNCT
arjefm-94	89	14	describe	describe	VERB
arjefm-94	89	15	asymmetric	asymmetric	ADJ
arjefm-94	89	16	market	market	NOUN
arjefm-94	89	17	response	response	NOUN
arjefm-94	89	18	under	under	ADP
arjefm-94	89	19	positive	positive	ADJ
arjefm-94	89	20	and	and	CCONJ
arjefm-94	89	21	negative	negative	ADJ
arjefm-94	89	22	impacts	impact	NOUN
arjefm-94	89	23	.	.	PUNCT
arjefm-94	90	1	egarch	egarch	NOUN
arjefm-94	90	2	model	model	NOUN
arjefm-94	90	3	of	of	ADP
arjefm-94	90	4	nelson	nelson	PROPN
arjefm-94	90	5	(	(	PUNCT
arjefm-94	90	6	1991	1991	NUM
arjefm-94	90	7	)	)	PUNCT
arjefm-94	90	8	is	be	AUX
arjefm-94	90	9	denoted	denote	VERB
arjefm-94	90	10	as	as	ADP
arjefm-94	90	11	q	q	PROPN
arjefm-94	90	12	p	p	PROPN
arjefm-94	90	13	ln	ln	PROPN
arjefm-94	90	14	(	(	PUNCT
arjefm-94	90	15	t	t	PROPN
arjefm-94	90	16	)	)	PUNCT
arjefm-94	90	17	0	0	PUNCT
arjefm-94	91	1	i	i	PRON
arjefm-94	91	2	g(vt	g(vt	VERB
arjefm-94	91	3	i	i	PRON
arjefm-94	91	4	)	)	PUNCT
arjefm-94	92	1	j	j	PROPN
arjefm-94	93	1	ln	ln	ADJ
arjefm-94	93	2	(	(	PUNCT
arjefm-94	93	3	t	t	PROPN
arjefm-94	93	4	j	j	PROPN
arjefm-94	93	5	)	)	PUNCT
arjefm-94	94	1	i	i	PRON
arjefm-94	94	2	1	1	NUM
arjefm-94	94	3	i	i	NOUN
arjefm-94	94	4	1	1	NUM
arjefm-94	94	5	(	(	PUNCT
arjefm-94	94	6	8)	8)	NUM
arjefm-94	94	7	g(vt	g(vt	X
arjefm-94	94	8	)	)	PUNCT
arjefm-94	94	9	ivt	ivt	NOUN
arjefm-94	94	10	(	(	PUNCT
arjefm-94	94	11	9	9	NUM
arjefm-94	94	12	)	)	PUNCT
arjefm-94	94	13	0	0	NUM
arjefm-94	94	14	0	0	NUM
arjefm-94	95	1	when	when	SCONJ
arjefm-94	95	2	,	,	PUNCT
arjefm-94	95	3	the	the	DET
arjefm-94	95	4	effects	effect	NOUN
arjefm-94	95	5	of	of	ADP
arjefm-94	95	6	information	information	NOUN
arjefm-94	95	7	are	be	AUX
arjefm-94	95	8	asymmetric	asymmetric	ADJ
arjefm-94	95	9	.	.	PUNCT
arjefm-94	96	1	when	when	SCONJ
arjefm-94	96	2	there	there	PRON
arjefm-94	96	3	is	be	VERB
arjefm-94	96	4	presence	presence	NOUN
arjefm-94	96	5	of	of	ADP
arjefm-94	96	6	effect	effect	NOUN
arjefm-94	96	7	“	"	PUNCT
arjefm-94	96	8	leverage	leverage	NOUN
arjefm-94	96	9	”	"	PUNCT
arjefm-94	96	10	.	.	PUNCT
arjefm-94	97	1	there	there	PRON
arjefm-94	97	2	are	be	VERB
arjefm-94	97	3	not	not	PART
arjefm-94	97	4	restrictions	restriction	NOUN
arjefm-94	97	5	on	on	ADP
arjefm-94	97	6	parameters	parameter	NOUN
arjefm-94	97	7	,	,	PUNCT
arjefm-94	97	8	which	which	PRON
arjefm-94	97	9	is	be	AUX
arjefm-94	97	10	an	an	DET
arjefm-94	97	11	advantage	advantage	NOUN
arjefm-94	97	12	of	of	ADP
arjefm-94	97	13	egarch	egarch	NOUN
arjefm-94	97	14	model	model	NOUN
arjefm-94	97	15	compared	compare	VERB
arjefm-94	97	16	with	with	ADP
arjefm-94	97	17	the	the	DET
arjefm-94	97	18	garch	garch	NOUN
arjefm-94	97	19	model	model	NOUN
arjefm-94	97	20	.	.	PUNCT
arjefm-94	98	1	tarch	tarch	NOUN
arjefm-94	98	2	model	model	NOUN
arjefm-94	98	3	proposed	propose	VERB
arjefm-94	98	4	by	by	ADP
arjefm-94	98	5	zakoian	zakoian	PROPN
arjefm-94	98	6	(	(	PUNCT
arjefm-94	98	7	1990	1990	NUM
arjefm-94	98	8	)	)	PUNCT
arjefm-94	98	9	have	have	VERB
arjefm-94	98	10	the	the	DET
arjefm-94	98	11	follow	follow	NOUN
arjefm-94	98	12	expression	expression	NOUN
arjefm-94	98	13	:	:	PUNCT
arjefm-94	98	14	q	q	X
arjefm-94	99	1	p	p	X
arjefm-94	99	2	t	t	PROPN
arjefm-94	99	3	0	0	PUNCT
arjefm-94	100	1	i	i	PRON
arjefm-94	100	2	t2	t2	VERB
arjefm-94	100	3	i	i	PRON
arjefm-94	100	4	t2	t2	VERB
arjefm-94	100	5	1dt	1dt	NOUN
arjefm-94	101	1	1	1	NUM
arjefm-94	101	2	j	j	PROPN
arjefm-94	101	3	t	t	PROPN
arjefm-94	101	4	j	j	PROPN
arjefm-94	102	1	i	i	PRON
arjefm-94	102	2	1	1	NUM
arjefm-94	102	3	i	i	NOUN
arjefm-94	102	4	1	1	NUM
arjefm-94	102	5	(	(	PUNCT
arjefm-94	102	6	10	10	NUM
arjefm-94	102	7	)	)	PUNCT
arjefm-94	102	8	where	where	SCONJ
arjefm-94	102	9	d	d	NOUN
arjefm-94	102	10	is	be	AUX
arjefm-94	102	11	a	a	DET
arjefm-94	102	12	latent	latent	NOUN
arjefm-94	102	13	variable	variable	NOUN
arjefm-94	102	14	1	1	NUM
arjefm-94	102	15	t	t	NOUN
arjefm-94	102	16	0	0	NUM
arjefm-94	103	1	d	d	NOUN
arjefm-94	103	2	0	0	NUM
arjefm-94	103	3	t	t	NOUN
arjefm-94	103	4	0	0	NUM
arjefm-94	103	5	(	(	PUNCT
arjefm-94	103	6	11	11	NUM
arjefm-94	103	7	)	)	PUNCT
arjefm-94	103	8	t	t	NOUN
arjefm-94	103	9	0	0	NUM
arjefm-94	103	10	)	)	PUNCT
arjefm-94	103	11	and	and	CCONJ
arjefm-94	103	12	bad	bad	ADJ
arjefm-94	103	13	news	news	NOUN
arjefm-94	103	14	t	t	PROPN
arjefm-94	103	15	0	0	NUM
arjefm-94	103	16	have	have	VERB
arjefm-94	103	17	different	different	ADJ
arjefm-94	103	18	effects	effect	NOUN
arjefm-94	103	19	in	in	ADP
arjefm-94	103	20	this	this	DET
arjefm-94	103	21	model	model	NOUN
arjefm-94	103	22	,	,	PUNCT
arjefm-94	103	23	good	good	ADJ
arjefm-94	103	24	news	news	NOUN
arjefm-94	103	25	(	(	PUNCT
arjefm-94	103	26	on	on	ADP
arjefm-94	103	27	conditional	conditional	ADJ
arjefm-94	103	28	variance	variance	NOUN
arjefm-94	103	29	.	.	PUNCT
arjefm-94	104	1	good	good	ADJ
arjefm-94	104	2	news	news	PROPN
arjefm-94	104	3	has	have	VERB
arjefm-94	104	4	an	an	DET
arjefm-94	104	5	impact	impact	NOUN
arjefm-94	104	6	of	of	ADP
arjefm-94	104	7	while	while	SCONJ
arjefm-94	104	8	bad	bad	ADJ
arjefm-94	104	9	news	news	NOUN
arjefm-94	104	10	has	have	VERB
arjefm-94	104	11	an	an	DET
arjefm-94	104	12	0	0	NUM
arjefm-94	104	13	0	0	NUM
arjefm-94	104	14	impact	impact	NOUN
arjefm-94	104	15	.	.	PUNCT
arjefm-94	105	1	if	if	SCONJ
arjefm-94	105	2	there	there	PRON
arjefm-94	105	3	is	be	VERB
arjefm-94	105	4	leverage	leverage	NOUN
arjefm-94	105	5	effect	effect	NOUN
arjefm-94	105	6	.	.	PUNCT
arjefm-94	106	1	if	if	SCONJ
arjefm-94	106	2	the	the	DET
arjefm-94	106	3	impact	impact	NOUN
arjefm-94	106	4	of	of	ADP
arjefm-94	106	5	news	news	NOUN
arjefm-94	106	6	is	be	AUX
arjefm-94	106	7	asymmetric	asymmetric	ADJ
arjefm-94	106	8	.	.	PUNCT
arjefm-94	107	1	3	3	X
arjefm-94	107	2	.	.	X
arjefm-94	107	3	estimation	estimation	NOUN
arjefm-94	107	4	and	and	CCONJ
arjefm-94	107	5	testing	test	VERB
arjefm-94	107	6	3.1	3.1	NUM
arjefm-94	107	7	data	datum	NOUN
arjefm-94	107	8	to	to	PART
arjefm-94	107	9	carry	carry	VERB
arjefm-94	107	10	out	out	ADP
arjefm-94	107	11	the	the	DET
arjefm-94	107	12	estimation	estimation	NOUN
arjefm-94	107	13	of	of	ADP
arjefm-94	107	14	the	the	DET
arjefm-94	107	15	arch	arch	ADJ
arjefm-94	107	16	model	model	NOUN
arjefm-94	107	17	,	,	PUNCT
arjefm-94	107	18	index	index	NOUN
arjefm-94	107	19	of	of	ADP
arjefm-94	107	20	the	the	DET
arjefm-94	107	21	mexican	mexican	ADJ
arjefm-94	107	22	stock	stock	NOUN
arjefm-94	107	23	market	market	NOUN
arjefm-94	107	24	(	(	PUNCT
arjefm-94	107	25	bmv	bmv	NOUN
arjefm-94	107	26	)	)	PUNCT
arjefm-94	107	27	are	be	AUX
arjefm-94	107	28	used	use	VERB
arjefm-94	107	29	.	.	PUNCT
arjefm-94	108	1	the	the	DET
arjefm-94	108	2	daily	daily	ADJ
arjefm-94	108	3	yields	yield	NOUN
arjefm-94	108	4	are	be	AUX
arjefm-94	108	5	calculated	calculate	VERB
arjefm-94	108	6	as	as	ADP
arjefm-94	108	7	:	:	PUNCT
arjefm-94	108	8	rt	rt	PROPN
arjefm-94	108	9	ln(ipct	ln(ipct	PROPN
arjefm-94	108	10	/	/	SYM
arjefm-94	108	11	ipct	ipct	ADJ
arjefm-94	108	12	1	1	NUM
arjefm-94	108	13	)	)	PUNCT
arjefm-94	108	14	.	.	PUNCT
arjefm-94	109	1	t	t	PROPN
arjefm-94	109	2	t	t	PROPN
arjefm-94	109	3	t	t	PROPN
arjefm-94	109	4	t	t	PROPN
arjefm-94	109	5	e	e	PROPN
arjefm-94	109	6	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	109	7	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	109	8	american	american	PROPN
arjefm-94	109	9	research	research	PROPN
arjefm-94	109	10	journal	journal	PROPN
arjefm-94	109	11	of	of	ADP
arjefm-94	109	12	economics	economic	NOUN
arjefm-94	109	13	,	,	PUNCT
arjefm-94	109	14	finance	finance	NOUN
arjefm-94	109	15	and	and	CCONJ
arjefm-94	109	16	management	management	NOUN
arjefm-94	109	17	volume	volume	NOUN
arjefm-94	109	18	11	11	NUM
arjefm-94	109	19	issue	issue	NOUN
arjefm-94	109	20	4	4	NUM
arjefm-94	109	21	,	,	PUNCT
arjefm-94	109	22	october	october	PROPN
arjefm-94	109	23	-	-	PUNCT
arjefm-94	109	24	december	december	PROPN
arjefm-94	109	25	2023	2023	NUM
arjefm-94	109	26	issn	issn	NOUN
arjefm-94	109	27	:	:	PUNCT
arjefm-94	109	28	2836	2836	NUM
arjefm-94	109	29	-	-	SYM
arjefm-94	109	30	9416	9416	NUM
arjefm-94	109	31	impact	impact	NOUN
arjefm-94	109	32	factor	factor	NOUN
arjefm-94	109	33	:	:	PUNCT
arjefm-94	109	34	5.57	5.57	NUM
arjefm-94	109	35	journal	journal	NOUN
arjefm-94	109	36	homepage	homepage	NOUN
arjefm-94	109	37	:	:	PUNCT
arjefm-94	109	38	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	109	39	,	,	PUNCT
arjefm-94	109	40	email	email	NOUN
arjefm-94	109	41	:	:	PUNCT
arjefm-94	109	42	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	109	43	official	official	ADJ
arjefm-94	109	44	journal	journal	PROPN
arjefm-94	109	45	of	of	ADP
arjefm-94	109	46	america	america	PROPN
arjefm-94	109	47	serial	serial	PROPN
arjefm-94	109	48	publication	publication	NOUN
arjefm-94	109	49	american	american	PROPN
arjefm-94	109	50	research	research	PROPN
arjefm-94	109	51	journal	journal	PROPN
arjefm-94	109	52	of	of	ADP
arjefm-94	109	53	economics	economic	NOUN
arjefm-94	109	54	,	,	PUNCT
arjefm-94	109	55	finance	finance	NOUN
arjefm-94	109	56	and	and	CCONJ
arjefm-94	109	57	management	management	NOUN
arjefm-94	109	58	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	109	59	,	,	PUNCT
arjefm-94	109	60	email	email	NOUN
arjefm-94	109	61	:	:	PUNCT
arjefm-94	109	62	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	110	1	69	69	NUM
arjefm-94	111	1	|	|	ADV
arjefm-94	111	2	p	p	NOUN
arjefm-94	111	3	a	a	DET
arjefm-94	111	4	g	g	NOUN
arjefm-94	111	5	e	e	NOUN
arjefm-94	111	6	time	time	NOUN
arjefm-94	111	7	series	series	NOUN
arjefm-94	111	8	of	of	ADP
arjefm-94	111	9	ipc	ipc	PROPN
arjefm-94	111	10	as	as	ADP
arjefm-94	111	11	representing	represent	VERB
arjefm-94	111	12	the	the	DET
arjefm-94	111	13	"	"	PUNCT
arjefm-94	111	14	price	price	NOUN
arjefm-94	111	15	"	"	PUNCT
arjefm-94	111	16	of	of	ADP
arjefm-94	111	17	the	the	DET
arjefm-94	111	18	stock	stock	NOUN
arjefm-94	111	19	market	market	NOUN
arjefm-94	111	20	is	be	AUX
arjefm-94	111	21	used	use	VERB
arjefm-94	111	22	due	due	ADP
arjefm-94	111	23	to	to	ADP
arjefm-94	111	24	ipc	ipc	PROPN
arjefm-94	111	25	is	be	AUX
arjefm-94	111	26	the	the	DET
arjefm-94	111	27	main	main	ADJ
arjefm-94	111	28	indicator	indicator	NOUN
arjefm-94	111	29	of	of	ADP
arjefm-94	111	30	yields	yield	NOUN
arjefm-94	111	31	offered	offer	VERB
arjefm-94	111	32	by	by	ADP
arjefm-94	111	33	investment	investment	NOUN
arjefm-94	111	34	in	in	ADP
arjefm-94	111	35	shares	share	NOUN
arjefm-94	111	36	traded	trade	VERB
arjefm-94	111	37	on	on	ADP
arjefm-94	111	38	the	the	DET
arjefm-94	111	39	bmv	bmv	NOUN
arjefm-94	111	40	and	and	CCONJ
arjefm-94	111	41	it	it	PRON
arjefm-94	111	42	consists	consist	VERB
arjefm-94	111	43	of	of	ADP
arjefm-94	111	44	a	a	DET
arjefm-94	111	45	sample	sample	NOUN
arjefm-94	111	46	of	of	ADP
arjefm-94	111	47	stocks	stock	NOUN
arjefm-94	111	48	with	with	ADP
arjefm-94	111	49	higher	high	ADJ
arjefm-94	111	50	trading	trading	NOUN
arjefm-94	111	51	volume	volume	NOUN
arjefm-94	111	52	weighted	weight	VERB
arjefm-94	111	53	on	on	ADP
arjefm-94	111	54	the	the	DET
arjefm-94	111	55	basis	basis	NOUN
arjefm-94	111	56	of	of	ADP
arjefm-94	111	57	the	the	DET
arjefm-94	111	58	proportion	proportion	NOUN
arjefm-94	111	59	they	they	PRON
arjefm-94	111	60	have	have	VERB
arjefm-94	111	61	on	on	ADP
arjefm-94	111	62	market	market	NOUN
arjefm-94	111	63	capitalization	capitalization	NOUN
arjefm-94	111	64	.	.	PUNCT
arjefm-94	112	1	data	datum	NOUN
arjefm-94	112	2	used	use	VERB
arjefm-94	112	3	were	be	AUX
arjefm-94	112	4	daily	daily	ADJ
arjefm-94	112	5	closing	closing	NOUN
arjefm-94	112	6	of	of	ADP
arjefm-94	112	7	the	the	DET
arjefm-94	112	8	ipq	ipq	NOUN
arjefm-94	112	9	,	,	PUNCT
arjefm-94	112	10	including	include	VERB
arjefm-94	112	11	all	all	DET
arjefm-94	112	12	days	day	NOUN
arjefm-94	112	13	of	of	ADP
arjefm-94	112	14	operations	operation	NOUN
arjefm-94	112	15	of	of	ADP
arjefm-94	112	16	the	the	DET
arjefm-94	112	17	bmv	bmv	NOUN
arjefm-94	112	18	for	for	ADP
arjefm-94	112	19	the	the	DET
arjefm-94	112	20	period	period	NOUN
arjefm-94	112	21	january	january	PROPN
arjefm-94	112	22	3th	3th	NOUN
arjefm-94	112	23	,	,	PUNCT
arjefm-94	112	24	2000	2000	NUM
arjefm-94	112	25	to	to	ADP
arjefm-94	112	26	july	july	PROPN
arjefm-94	112	27	11th	11th	NOUN
arjefm-94	112	28	,	,	PUNCT
arjefm-94	112	29	2008	2008	NUM
arjefm-94	112	30	.	.	PUNCT
arjefm-94	113	1	we	we	PRON
arjefm-94	113	2	didn´t	didn´t	VERB
arjefm-94	113	3	considere	considere	ADV
arjefm-94	113	4	successive	successive	ADJ
arjefm-94	113	5	values	value	NOUN
arjefm-94	113	6	in	in	ADP
arjefm-94	113	7	order	order	NOUN
arjefm-94	113	8	to	to	PART
arjefm-94	113	9	avoid	avoid	VERB
arjefm-94	113	10	stock	stock	NOUN
arjefm-94	113	11	return	return	NOUN
arjefm-94	113	12	volatilities	volatility	NOUN
arjefm-94	113	13	due	due	ADP
arjefm-94	113	14	to	to	ADP
arjefm-94	113	15	the	the	DET
arjefm-94	113	16	impact	impact	NOUN
arjefm-94	113	17	of	of	ADP
arjefm-94	113	18	the	the	DET
arjefm-94	113	19	recent	recent	ADJ
arjefm-94	113	20	global	global	ADJ
arjefm-94	113	21	financial	financial	ADJ
arjefm-94	113	22	crises	crisis	NOUN
arjefm-94	113	23	called	call	VERB
arjefm-94	113	24	the	the	DET
arjefm-94	113	25	first	first	ADJ
arjefm-94	113	26	largest	large	ADJ
arjefm-94	113	27	crisis	crisis	NOUN
arjefm-94	113	28	after	after	ADP
arjefm-94	113	29	the	the	DET
arjefm-94	113	30	recession	recession	NOUN
arjefm-94	113	31	of	of	ADP
arjefm-94	113	32	1930s	1930	NOUN
arjefm-94	113	33	(	(	PUNCT
arjefm-94	113	34	ali	ali	PROPN
arjefm-94	113	35	and	and	CCONJ
arjefm-94	113	36	afzal	afzal	PROPN
arjefm-94	113	37	,	,	PUNCT
arjefm-94	113	38	2012	2012	NUM
arjefm-94	113	39	)	)	PUNCT
arjefm-94	113	40	.	.	PUNCT
arjefm-94	114	1	in	in	ADP
arjefm-94	114	2	total	total	ADJ
arjefm-94	114	3	2136	2136	NUM
arjefm-94	114	4	observations	observation	NOUN
arjefm-94	114	5	,	,	PUNCT
arjefm-94	114	6	published	publish	VERB
arjefm-94	114	7	in	in	ADP
arjefm-94	114	8	http://mx.finance.yahoo.com/.	http://mx.finance.yahoo.com/.	PROPN
arjefm-94	114	9	for	for	ADP
arjefm-94	114	10	data	data	NOUN
arjefm-94	114	11	processing	processing	NOUN
arjefm-94	114	12	excel	excel	NOUN
arjefm-94	114	13	spreadsheet	spreadsheet	NOUN
arjefm-94	114	14	was	be	AUX
arjefm-94	114	15	used	use	VERB
arjefm-94	114	16	and	and	CCONJ
arjefm-94	114	17	to	to	PART
arjefm-94	114	18	estimate	estimate	VERB
arjefm-94	114	19	the	the	DET
arjefm-94	114	20	e	e	NOUN
arjefm-94	114	21	-	-	NOUN
arjefm-94	114	22	views	views	ADJ
arjefm-94	114	23	3	3	NUM
arjefm-94	114	24	package	package	NOUN
arjefm-94	114	25	was	be	AUX
arjefm-94	114	26	used	use	VERB
arjefm-94	114	27	.	.	PUNCT
arjefm-94	115	1	to	to	PART
arjefm-94	115	2	identify	identify	VERB
arjefm-94	115	3	the	the	DET
arjefm-94	115	4	model	model	NOUN
arjefm-94	115	5	which	which	PRON
arjefm-94	115	6	allows	allow	VERB
arjefm-94	115	7	us	we	PRON
arjefm-94	115	8	to	to	PART
arjefm-94	115	9	explain	explain	VERB
arjefm-94	115	10	with	with	ADP
arjefm-94	115	11	more	more	ADJ
arjefm-94	115	12	accuracy	accuracy	NOUN
arjefm-94	115	13	the	the	DET
arjefm-94	115	14	historical	historical	ADJ
arjefm-94	115	15	performance	performance	NOUN
arjefm-94	115	16	of	of	ADP
arjefm-94	115	17	the	the	DET
arjefm-94	115	18	ipc	ipc	PROPN
arjefm-94	115	19	,	,	PUNCT
arjefm-94	115	20	and	and	CCONJ
arjefm-94	115	21	to	to	PART
arjefm-94	115	22	obtain	obtain	VERB
arjefm-94	115	23	forecasts	forecast	NOUN
arjefm-94	115	24	,	,	PUNCT
arjefm-94	115	25	the	the	DET
arjefm-94	115	26	following	follow	VERB
arjefm-94	115	27	methodology	methodology	NOUN
arjefm-94	115	28	is	be	AUX
arjefm-94	115	29	used	use	VERB
arjefm-94	115	30	:	:	PUNCT
arjefm-94	115	31	a	a	X
arjefm-94	115	32	)	)	PUNCT
arjefm-94	115	33	2127	2127	NUM
arjefm-94	115	34	sample	sample	NOUN
arjefm-94	115	35	observations	observation	NOUN
arjefm-94	115	36	are	be	AUX
arjefm-94	115	37	used	use	VERB
arjefm-94	115	38	to	to	PART
arjefm-94	115	39	adjust	adjust	VERB
arjefm-94	115	40	the	the	DET
arjefm-94	115	41	models	model	NOUN
arjefm-94	115	42	.	.	PUNCT
arjefm-94	116	1	b	b	X
arjefm-94	116	2	)	)	PUNCT
arjefm-94	116	3	volatility	volatility	NOUN
arjefm-94	116	4	is	be	AUX
arjefm-94	116	5	modeled	model	VERB
arjefm-94	116	6	and	and	CCONJ
arjefm-94	116	7	the	the	DET
arjefm-94	116	8	best	good	ADJ
arjefm-94	116	9	model	model	NOUN
arjefm-94	116	10	based	base	VERB
arjefm-94	116	11	on	on	ADP
arjefm-94	116	12	standard	standard	ADJ
arjefm-94	116	13	evaluation	evaluation	NOUN
arjefm-94	116	14	criteria	criterion	NOUN
arjefm-94	116	15	(	(	PUNCT
arjefm-94	116	16	akaike	akaike	ADJ
arjefm-94	116	17	criterion	criterion	NOUN
arjefm-94	116	18	,	,	PUNCT
arjefm-94	116	19	schwarz	schwarz	NOUN
arjefm-94	116	20	criterion	criterion	NOUN
arjefm-94	116	21	and	and	CCONJ
arjefm-94	116	22	value	value	NOUN
arjefm-94	116	23	of	of	ADP
arjefm-94	116	24	the	the	DET
arjefm-94	116	25	maximum	maximum	ADJ
arjefm-94	116	26	likelihood	likelihood	NOUN
arjefm-94	116	27	function	function	NOUN
arjefm-94	116	28	)	)	PUNCT
arjefm-94	116	29	is	be	AUX
arjefm-94	116	30	selected	select	VERB
arjefm-94	116	31	.	.	PUNCT
arjefm-94	117	1	c	c	X
arjefm-94	117	2	)	)	PUNCT
arjefm-94	117	3	with	with	ADP
arjefm-94	117	4	the	the	DET
arjefm-94	117	5	resulting	result	VERB
arjefm-94	117	6	models	model	NOUN
arjefm-94	117	7	,	,	PUNCT
arjefm-94	117	8	nine	nine	NUM
arjefm-94	117	9	periods	period	NOUN
arjefm-94	117	10	forward	forward	ADV
arjefm-94	117	11	(	(	PUNCT
arjefm-94	117	12	july	july	PROPN
arjefm-94	117	13	1st	1st	NOUN
arjefm-94	117	14	to	to	ADP
arjefm-94	117	15	july	july	PROPN
arjefm-94	117	16	11th	11th	NOUN
arjefm-94	117	17	,	,	PUNCT
arjefm-94	117	18	2008	2008	NUM
arjefm-94	117	19	)	)	PUNCT
arjefm-94	117	20	are	be	AUX
arjefm-94	117	21	forecast	forecast	VERB
arjefm-94	117	22	and	and	CCONJ
arjefm-94	117	23	the	the	DET
arjefm-94	117	24	results	result	NOUN
arjefm-94	117	25	with	with	ADP
arjefm-94	117	26	real	real	ADJ
arjefm-94	117	27	data	datum	NOUN
arjefm-94	117	28	from	from	ADP
arjefm-94	117	29	the	the	DET
arjefm-94	117	30	same	same	ADJ
arjefm-94	117	31	period	period	NOUN
arjefm-94	117	32	,	,	PUNCT
arjefm-94	117	33	are	be	AUX
arjefm-94	117	34	compared	compare	VERB
arjefm-94	117	35	.	.	PUNCT
arjefm-94	118	1	d	d	X
arjefm-94	118	2	)	)	PUNCT
arjefm-94	118	3	accuracy	accuracy	NOUN
arjefm-94	118	4	measures	measure	NOUN
arjefm-94	118	5	are	be	AUX
arjefm-94	118	6	calculated	calculate	VERB
arjefm-94	118	7	(	(	PUNCT
arjefm-94	118	8	mean	mean	ADJ
arjefm-94	118	9	square	square	ADJ
arjefm-94	118	10	error	error	NOUN
arjefm-94	118	11	,	,	PUNCT
arjefm-94	118	12	mean	mean	ADJ
arjefm-94	118	13	absolute	absolute	ADJ
arjefm-94	118	14	error	error	NOUN
arjefm-94	118	15	,	,	PUNCT
arjefm-94	118	16	theil	theil	PROPN
arjefm-94	118	17	inequality	inequality	PROPN
arjefm-94	118	18	coefficient	coefficient	NOUN
arjefm-94	118	19	and	and	CCONJ
arjefm-94	118	20	decomposition	decomposition	NOUN
arjefm-94	118	21	of	of	ADP
arjefm-94	118	22	the	the	DET
arjefm-94	118	23	mean	mean	ADJ
arjefm-94	118	24	square	square	NOUN
arjefm-94	118	25	error	error	NOUN
arjefm-94	118	26	)	)	PUNCT
arjefm-94	118	27	.	.	PUNCT
arjefm-94	119	1	this	this	PRON
arjefm-94	119	2	,	,	PUNCT
arjefm-94	119	3	because	because	SCONJ
arjefm-94	119	4	they	they	PRON
arjefm-94	119	5	allow	allow	VERB
arjefm-94	119	6	evaluating	evaluate	VERB
arjefm-94	119	7	the	the	DET
arjefm-94	119	8	forecasts	forecast	NOUN
arjefm-94	119	9	,	,	PUNCT
arjefm-94	119	10	and	and	CCONJ
arjefm-94	119	11	the	the	DET
arjefm-94	119	12	model	model	NOUN
arjefm-94	119	13	in	in	ADP
arjefm-94	119	14	which	which	PRON
arjefm-94	119	15	the	the	DET
arjefm-94	119	16	difference	difference	NOUN
arjefm-94	119	17	between	between	ADP
arjefm-94	119	18	the	the	DET
arjefm-94	119	19	forecasted	forecast	VERB
arjefm-94	119	20	values	value	NOUN
arjefm-94	119	21	and	and	CCONJ
arjefm-94	119	22	real	real	ADJ
arjefm-94	119	23	values	value	NOUN
arjefm-94	119	24	is	be	AUX
arjefm-94	119	25	minimal	minimal	ADJ
arjefm-94	119	26	,	,	PUNCT
arjefm-94	119	27	is	be	AUX
arjefm-94	119	28	chosen	choose	VERB
arjefm-94	119	29	.	.	PUNCT
arjefm-94	120	1	3.2	3.2	NUM
arjefm-94	120	2	)	)	PUNCT
arjefm-94	120	3	description	description	NOUN
arjefm-94	120	4	of	of	ADP
arjefm-94	120	5	the	the	DET
arjefm-94	120	6	information	information	NOUN
arjefm-94	120	7	this	this	DET
arjefm-94	120	8	work	work	NOUN
arjefm-94	120	9	begins	begin	VERB
arjefm-94	120	10	obtaining	obtain	VERB
arjefm-94	120	11	a	a	DET
arjefm-94	120	12	graph	graph	NOUN
arjefm-94	120	13	of	of	ADP
arjefm-94	120	14	the	the	DET
arjefm-94	120	15	ipc	ipc	PROPN
arjefm-94	120	16	in	in	ADP
arjefm-94	120	17	order	order	NOUN
arjefm-94	120	18	to	to	PART
arjefm-94	120	19	consider	consider	VERB
arjefm-94	120	20	appropriate	appropriate	ADJ
arjefm-94	120	21	initial	initial	ADJ
arjefm-94	120	22	transformations	transformation	NOUN
arjefm-94	120	23	.	.	PUNCT
arjefm-94	121	1	in	in	ADP
arjefm-94	121	2	graph	graph	NOUN
arjefm-94	121	3	1	1	NUM
arjefm-94	121	4	it	it	PRON
arjefm-94	121	5	can	can	AUX
arjefm-94	121	6	be	be	AUX
arjefm-94	121	7	observed	observe	VERB
arjefm-94	121	8	an	an	DET
arjefm-94	121	9	increasing	increase	VERB
arjefm-94	121	10	tendency	tendency	NOUN
arjefm-94	121	11	of	of	ADP
arjefm-94	121	12	the	the	DET
arjefm-94	121	13	ipc	ipc	PROPN
arjefm-94	121	14	over	over	ADP
arjefm-94	121	15	time	time	NOUN
arjefm-94	121	16	,	,	PUNCT
arjefm-94	121	17	starting	start	VERB
arjefm-94	121	18	from	from	ADP
arjefm-94	121	19	an	an	DET
arjefm-94	121	20	intercept	intercept	NOUN
arjefm-94	121	21	.	.	PUNCT
arjefm-94	122	1	the	the	DET
arjefm-94	122	2	graph	graph	NOUN
arjefm-94	122	3	is	be	AUX
arjefm-94	122	4	very	very	ADV
arjefm-94	122	5	similar	similar	ADJ
arjefm-94	122	6	as	as	ADP
arjefm-94	122	7	a	a	DET
arjefm-94	122	8	random	random	ADJ
arjefm-94	122	9	walk	walk	NOUN
arjefm-94	122	10	with	with	ADP
arjefm-94	122	11	trend	trend	NOUN
arjefm-94	122	12	.	.	PUNCT
arjefm-94	123	1	graph	graph	NOUN
arjefm-94	123	2	1	1	NUM
arjefm-94	123	3	:	:	PUNCT
arjefm-94	123	4	historical	historical	ADJ
arjefm-94	123	5	ipc	ipc	PROPN
arjefm-94	123	6	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	123	7	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	123	8	american	american	PROPN
arjefm-94	123	9	research	research	PROPN
arjefm-94	123	10	journal	journal	PROPN
arjefm-94	123	11	of	of	ADP
arjefm-94	123	12	economics	economic	NOUN
arjefm-94	123	13	,	,	PUNCT
arjefm-94	123	14	finance	finance	NOUN
arjefm-94	123	15	and	and	CCONJ
arjefm-94	123	16	management	management	NOUN
arjefm-94	123	17	volume	volume	NOUN
arjefm-94	123	18	11	11	NUM
arjefm-94	123	19	issue	issue	NOUN
arjefm-94	123	20	4	4	NUM
arjefm-94	123	21	,	,	PUNCT
arjefm-94	123	22	october	october	PROPN
arjefm-94	123	23	-	-	PUNCT
arjefm-94	123	24	december	december	PROPN
arjefm-94	123	25	2023	2023	NUM
arjefm-94	123	26	issn	issn	NOUN
arjefm-94	123	27	:	:	PUNCT
arjefm-94	123	28	2836	2836	NUM
arjefm-94	123	29	-	-	SYM
arjefm-94	123	30	9416	9416	NUM
arjefm-94	123	31	impact	impact	NOUN
arjefm-94	123	32	factor	factor	NOUN
arjefm-94	123	33	:	:	PUNCT
arjefm-94	123	34	5.57	5.57	NUM
arjefm-94	123	35	journal	journal	NOUN
arjefm-94	123	36	homepage	homepage	NOUN
arjefm-94	123	37	:	:	PUNCT
arjefm-94	123	38	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	123	39	,	,	PUNCT
arjefm-94	123	40	email	email	NOUN
arjefm-94	123	41	:	:	PUNCT
arjefm-94	123	42	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	123	43	official	official	ADJ
arjefm-94	123	44	journal	journal	PROPN
arjefm-94	123	45	of	of	ADP
arjefm-94	123	46	america	america	PROPN
arjefm-94	123	47	serial	serial	PROPN
arjefm-94	123	48	publication	publication	NOUN
arjefm-94	123	49	american	american	PROPN
arjefm-94	123	50	research	research	PROPN
arjefm-94	123	51	journal	journal	PROPN
arjefm-94	123	52	of	of	ADP
arjefm-94	123	53	economics	economic	NOUN
arjefm-94	123	54	,	,	PUNCT
arjefm-94	123	55	finance	finance	NOUN
arjefm-94	123	56	and	and	CCONJ
arjefm-94	123	57	management	management	NOUN
arjefm-94	123	58	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	123	59	,	,	PUNCT
arjefm-94	123	60	email	email	NOUN
arjefm-94	123	61	:	:	PUNCT
arjefm-94	123	62	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	124	1	70	70	NUM
arjefm-94	125	1	|	|	ADV
arjefm-94	125	2	p	p	X
arjefm-94	125	3	a	a	DET
arjefm-94	125	4	g	g	NOUN
arjefm-94	125	5	e	e	NOUN
arjefm-94	125	6	daily	daily	ADJ
arjefm-94	125	7	yield	yield	NOUN
arjefm-94	125	8	of	of	ADP
arjefm-94	125	9	the	the	DET
arjefm-94	125	10	ipc	ipc	PROPN
arjefm-94	125	11	over	over	ADP
arjefm-94	125	12	the	the	DET
arjefm-94	125	13	sample	sample	NOUN
arjefm-94	125	14	period	period	NOUN
arjefm-94	125	15	are	be	AUX
arjefm-94	125	16	presented	present	VERB
arjefm-94	125	17	in	in	ADP
arjefm-94	125	18	graph	graph	NOUN
arjefm-94	125	19	2	2	NUM
arjefm-94	125	20	and	and	CCONJ
arjefm-94	125	21	it	it	PRON
arjefm-94	125	22	is	be	AUX
arjefm-94	125	23	possible	possible	ADJ
arjefm-94	125	24	to	to	PART
arjefm-94	125	25	observe	observe	VERB
arjefm-94	125	26	that	that	SCONJ
arjefm-94	125	27	series	series	NOUN
arjefm-94	125	28	consistently	consistently	ADV
arjefm-94	125	29	fluctuates	fluctuate	VERB
arjefm-94	125	30	around	around	ADP
arjefm-94	125	31	zero	zero	NUM
arjefm-94	125	32	,	,	PUNCT
arjefm-94	125	33	it´s	it´s	PRON
arjefm-94	125	34	variance	variance	NOUN
arjefm-94	125	35	is	be	AUX
arjefm-94	125	36	not	not	PART
arjefm-94	125	37	constant	constant	ADJ
arjefm-94	125	38	through	through	ADP
arjefm-94	125	39	time	time	NOUN
arjefm-94	125	40	and	and	CCONJ
arjefm-94	125	41	shows	show	VERB
arjefm-94	125	42	an	an	DET
arjefm-94	125	43	autocorrelation	autocorrelation	NOUN
arjefm-94	125	44	behavior	behavior	NOUN
arjefm-94	125	45	.	.	PUNCT
arjefm-94	126	1	graph	graph	NOUN
arjefm-94	126	2	2	2	NUM
arjefm-94	126	3	:	:	PUNCT
arjefm-94	126	4	yields	yield	NOUN
arjefm-94	126	5	of	of	ADP
arjefm-94	126	6	ipc	ipc	PROPN
arjefm-94	126	7	the	the	DET
arjefm-94	126	8	estimated	estimate	VERB
arjefm-94	126	9	distribution	distribution	NOUN
arjefm-94	126	10	of	of	ADP
arjefm-94	126	11	the	the	DET
arjefm-94	126	12	yields	yield	NOUN
arjefm-94	126	13	(	(	PUNCT
arjefm-94	126	14	kernel	kernel	PROPN
arjefm-94	126	15	epanechnikov	epanechnikov	PROPN
arjefm-94	126	16	,	,	PUNCT
arjefm-94	126	17	with	with	ADP
arjefm-94	126	18	silverman	silverman	NOUN
arjefm-94	126	19	bandwidth	bandwidth	NOUN
arjefm-94	126	20	value	value	NOUN
arjefm-94	126	21	h	h	NOUN
arjefm-94	126	22	=	=	NOUN
arjefm-94	126	23	0.0022	0.0022	NUM
arjefm-94	126	24	)	)	PUNCT
arjefm-94	126	25	is	be	AUX
arjefm-94	126	26	shown	show	VERB
arjefm-94	126	27	in	in	ADP
arjefm-94	126	28	graph	graph	NOUN
arjefm-94	126	29	4	4	NUM
arjefm-94	126	30	,	,	PUNCT
arjefm-94	126	31	in	in	ADP
arjefm-94	126	32	which	which	PRON
arjefm-94	126	33	is	be	AUX
arjefm-94	126	34	again	again	ADV
arjefm-94	126	35	observed	observe	VERB
arjefm-94	126	36	the	the	DET
arjefm-94	126	37	excess	excess	ADJ
arjefm-94	126	38	kurtosis	kurtosis	NOUN
arjefm-94	126	39	.	.	PUNCT
arjefm-94	127	1	the	the	DET
arjefm-94	127	2	jarque	jarque	NOUN
arjefm-94	127	3	bera	bera	NOUN
arjefm-94	127	4	test	test	NOUN
arjefm-94	127	5	rejects	reject	VERB
arjefm-94	127	6	the	the	DET
arjefm-94	127	7	normal	normal	ADJ
arjefm-94	127	8	distribution	distribution	NOUN
arjefm-94	127	9	in	in	ADP
arjefm-94	127	10	yields	yield	NOUN
arjefm-94	127	11	of	of	ADP
arjefm-94	127	12	the	the	DET
arjefm-94	127	13	ipq	ipq	NOUN
arjefm-94	127	14	(	(	PUNCT
arjefm-94	127	15	jarque	jarque	NOUN
arjefm-94	127	16	bera	bera	NOUN
arjefm-94	127	17	=	=	PUNCT
arjefm-94	127	18	682.4052	682.4052	NUM
arjefm-94	127	19	)	)	PUNCT
arjefm-94	127	20	.	.	PUNCT
arjefm-94	128	1	graph	graph	NOUN
arjefm-94	128	2	4	4	NUM
arjefm-94	128	3	:	:	PUNCT
arjefm-94	128	4	estimated	estimate	VERB
arjefm-94	128	5	distributions	distribution	NOUN
arjefm-94	128	6	of	of	ADP
arjefm-94	128	7	the	the	DET
arjefm-94	128	8	ipq	ipq	NOUN
arjefm-94	128	9	yields	yields	PROPN
arjefm-94	128	10	kernel	kernel	PROPN
arjefm-94	128	11	density	density	PROPN
arjefm-94	128	12	(	(	PUNCT
arjefm-94	128	13	normal	normal	ADJ
arjefm-94	128	14	,	,	PUNCT
arjefm-94	128	15	h	h	NOUN
arjefm-94	128	16	=	=	SYM
arjefm-94	128	17	0.0022	0.0022	NUM
arjefm-94	128	18	)	)	PUNCT
arjefm-94	128	19	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	128	20	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	129	1	american	american	PROPN
arjefm-94	129	2	research	research	PROPN
arjefm-94	129	3	journal	journal	PROPN
arjefm-94	129	4	of	of	ADP
arjefm-94	129	5	economics	economic	NOUN
arjefm-94	129	6	,	,	PUNCT
arjefm-94	129	7	finance	finance	NOUN
arjefm-94	129	8	and	and	CCONJ
arjefm-94	129	9	management	management	NOUN
arjefm-94	129	10	volume	volume	NOUN
arjefm-94	129	11	11	11	NUM
arjefm-94	129	12	issue	issue	NOUN
arjefm-94	129	13	4	4	NUM
arjefm-94	129	14	,	,	PUNCT
arjefm-94	129	15	october	october	PROPN
arjefm-94	129	16	-	-	PUNCT
arjefm-94	129	17	december	december	PROPN
arjefm-94	129	18	2023	2023	NUM
arjefm-94	129	19	issn	issn	NOUN
arjefm-94	129	20	:	:	PUNCT
arjefm-94	129	21	2836	2836	NUM
arjefm-94	129	22	-	-	SYM
arjefm-94	129	23	9416	9416	NUM
arjefm-94	129	24	impact	impact	NOUN
arjefm-94	129	25	factor	factor	NOUN
arjefm-94	129	26	:	:	PUNCT
arjefm-94	129	27	5.57	5.57	NUM
arjefm-94	129	28	journal	journal	NOUN
arjefm-94	129	29	homepage	homepage	NOUN
arjefm-94	129	30	:	:	PUNCT
arjefm-94	129	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	129	32	,	,	PUNCT
arjefm-94	129	33	email	email	NOUN
arjefm-94	129	34	:	:	PUNCT
arjefm-94	130	1	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	130	2	official	official	ADJ
arjefm-94	130	3	journal	journal	PROPN
arjefm-94	130	4	of	of	ADP
arjefm-94	130	5	america	america	PROPN
arjefm-94	130	6	serial	serial	PROPN
arjefm-94	130	7	publication	publication	NOUN
arjefm-94	130	8	american	american	PROPN
arjefm-94	130	9	research	research	PROPN
arjefm-94	130	10	journal	journal	PROPN
arjefm-94	130	11	of	of	ADP
arjefm-94	130	12	economics	economic	NOUN
arjefm-94	130	13	,	,	PUNCT
arjefm-94	130	14	finance	finance	NOUN
arjefm-94	130	15	and	and	CCONJ
arjefm-94	130	16	management	management	NOUN
arjefm-94	130	17	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	130	18	,	,	PUNCT
arjefm-94	130	19	email	email	NOUN
arjefm-94	130	20	:	:	PUNCT
arjefm-94	130	21	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	131	1	71	71	NUM
arjefm-94	132	1	|	|	ADV
arjefm-94	132	2	p	p	NOUN
arjefm-94	132	3	a	a	DET
arjefm-94	132	4	g	g	NOUN
arjefm-94	132	5	e	e	NOUN
arjefm-94	132	6	ripc	ripc	PROPN
arjefm-94	132	7	statistically	statistically	ADV
arjefm-94	132	8	,	,	PUNCT
arjefm-94	132	9	the	the	DET
arjefm-94	132	10	risk	risk	NOUN
arjefm-94	132	11	or	or	CCONJ
arjefm-94	132	12	volatility	volatility	NOUN
arjefm-94	132	13	is	be	AUX
arjefm-94	132	14	the	the	DET
arjefm-94	132	15	dispersion	dispersion	NOUN
arjefm-94	132	16	of	of	ADP
arjefm-94	132	17	the	the	DET
arjefm-94	132	18	yields	yield	NOUN
arjefm-94	132	19	.	.	PUNCT
arjefm-94	133	1	daily	daily	ADJ
arjefm-94	133	2	performance	performance	NOUN
arjefm-94	133	3	(	(	PUNCT
arjefm-94	133	4	average	average	ADJ
arjefm-94	133	5	profitability	profitability	NOUN
arjefm-94	133	6	)	)	PUNCT
arjefm-94	133	7	for	for	ADP
arjefm-94	133	8	the	the	DET
arjefm-94	133	9	period	period	NOUN
arjefm-94	133	10	under	under	ADP
arjefm-94	133	11	review	review	NOUN
arjefm-94	133	12	is	be	AUX
arjefm-94	133	13	0.000670	0.000670	NUM
arjefm-94	133	14	and	and	CCONJ
arjefm-94	133	15	the	the	DET
arjefm-94	133	16	risk	risk	NOUN
arjefm-94	133	17	(	(	PUNCT
arjefm-94	133	18	standard	standard	ADJ
arjefm-94	133	19	deviation	deviation	NOUN
arjefm-94	133	20	)	)	PUNCT
arjefm-94	133	21	per	per	ADP
arjefm-94	133	22	day	day	NOUN
arjefm-94	133	23	is	be	AUX
arjefm-94	133	24	0.014114	0.014114	NUM
arjefm-94	133	25	,	,	PUNCT
arjefm-94	133	26	which	which	PRON
arjefm-94	133	27	reflects	reflect	VERB
arjefm-94	133	28	the	the	DET
arjefm-94	133	29	high	high	ADJ
arjefm-94	133	30	volatility	volatility	NOUN
arjefm-94	133	31	of	of	ADP
arjefm-94	133	32	the	the	DET
arjefm-94	133	33	mexican	mexican	PROPN
arjefm-94	133	34	stock	stock	PROPN
arjefm-94	133	35	index	index	PROPN
arjefm-94	133	36	.	.	PUNCT
arjefm-94	134	1	table	table	NOUN
arjefm-94	134	2	1	1	NUM
arjefm-94	134	3	summarizes	summarize	NOUN
arjefm-94	134	4	the	the	DET
arjefm-94	134	5	descriptive	descriptive	ADJ
arjefm-94	134	6	statistics	statistic	NOUN
arjefm-94	134	7	in	in	ADP
arjefm-94	134	8	yields	yield	NOUN
arjefm-94	134	9	of	of	ADP
arjefm-94	134	10	the	the	DET
arjefm-94	134	11	ipc	ipc	PROPN
arjefm-94	134	12	.	.	PROPN
arjefm-94	134	13	table	table	NOUN
arjefm-94	134	14	1	1	NUM
arjefm-94	134	15	:	:	PUNCT
arjefm-94	134	16	descriptive	descriptive	ADJ
arjefm-94	134	17	statistics	statistic	NOUN
arjefm-94	134	18	in	in	ADP
arjefm-94	134	19	yields	yield	NOUN
arjefm-94	134	20	of	of	ADP
arjefm-94	134	21	the	the	DET
arjefm-94	134	22	ipc	ipc	PROPN
arjefm-94	134	23	statistics	statistics	PROPN
arjefm-94	134	24	value	value	NOUN
arjefm-94	134	25	mean	mean	VERB
arjefm-94	134	26	0.000670	0.000670	NUM
arjefm-94	134	27	median	median	NOUN
arjefm-94	134	28	0.001179	0.001179	NUM
arjefm-94	134	29	standard	standard	ADJ
arjefm-94	134	30	deviation	deviation	NOUN
arjefm-94	134	31	0.014114	0.014114	NUM
arjefm-94	134	32	bias	bias	NOUN
arjefm-94	134	33	-0.105974	-0.105974	NOUN
arjefm-94	134	34	kurtosis	kurtosis	VERB
arjefm-94	134	35	5.767421	5.767421	NUM
arjefm-94	134	36	source	source	NOUN
arjefm-94	134	37	:	:	PUNCT
arjefm-94	134	38	own	own	VERB
arjefm-94	134	39	3.3	3.3	NUM
arjefm-94	134	40	unitary	unitary	ADJ
arjefm-94	134	41	root	root	NOUN
arjefm-94	134	42	test	test	NOUN
arjefm-94	134	43	in	in	ADP
arjefm-94	134	44	order	order	NOUN
arjefm-94	134	45	to	to	PART
arjefm-94	134	46	detect	detect	VERB
arjefm-94	134	47	if	if	SCONJ
arjefm-94	134	48	the	the	DET
arjefm-94	134	49	ipc	ipc	PROPN
arjefm-94	134	50	yields	yields	PROPN
arjefm-94	134	51	series	series	PROPN
arjefm-94	134	52	covariance	covariance	NOUN
arjefm-94	134	53	is	be	AUX
arjefm-94	134	54	stationary	stationary	ADJ
arjefm-94	134	55	,	,	PUNCT
arjefm-94	134	56	unit	unit	NOUN
arjefm-94	134	57	root	root	NOUN
arjefm-94	134	58	test	test	NOUN
arjefm-94	134	59	is	be	AUX
arjefm-94	134	60	carried	carry	VERB
arjefm-94	134	61	out	out	ADP
arjefm-94	134	62	with	with	ADP
arjefm-94	134	63	the	the	DET
arjefm-94	134	64	statistical	statistical	ADJ
arjefm-94	134	65	dickey	dickey	NOUN
arjefm-94	134	66	-	-	PUNCT
arjefm-94	134	67	fuller	fuller	NOUN
arjefm-94	134	68	.	.	PUNCT
arjefm-94	135	1	results	result	NOUN
arjefm-94	135	2	are	be	AUX
arjefm-94	135	3	shown	show	VERB
arjefm-94	135	4	in	in	ADP
arjefm-94	135	5	table	table	NOUN
arjefm-94	135	6	2	2	NUM
arjefm-94	135	7	.	.	PUNCT
arjefm-94	135	8	table	table	NOUN
arjefm-94	135	9	2	2	NUM
arjefm-94	135	10	.	.	PUNCT
arjefm-94	135	11	unitary	unitary	ADJ
arjefm-94	135	12	root	root	NOUN
arjefm-94	135	13	test	test	NOUN
arjefm-94	135	14	augmented	augment	VERB
arjefm-94	135	15	dickey	dickey	PROPN
arjefm-94	135	16	–	–	PUNCT
arjefm-94	135	17	fuller	full	ADJ
arjefm-94	135	18	unit	unit	NOUN
arjefm-94	135	19	root	root	NOUN
arjefm-94	135	20	test	test	NOUN
arjefm-94	135	21	on	on	ADP
arjefm-94	135	22	ripc	ripc	PROPN
arjefm-94	135	23	adf	adf	PROPN
arjefm-94	135	24	test	test	PROPN
arjefm-94	135	25	statistic	statistic	PROPN
arjefm-94	135	26	-21.56508	-21.56508	PUNCT
arjefm-94	135	27	1	1	NUM
arjefm-94	135	28	%	%	NOUN
arjefm-94	135	29	critical	critical	ADJ
arjefm-94	135	30	value	value	NOUN
arjefm-94	135	31	*	*	PUNCT
arjefm-94	135	32	-3.4364	-3.4364	NOUN
arjefm-94	135	33	5	5	NUM
arjefm-94	135	34	%	%	NOUN
arjefm-94	135	35	critical	critical	ADJ
arjefm-94	135	36	value	value	NOUN
arjefm-94	135	37	-2.8634	-2.8634	NOUN
arjefm-94	135	38	10	10	NUM
arjefm-94	135	39	%	%	NOUN
arjefm-94	135	40	critical	critical	ADJ
arjefm-94	135	41	value	value	NOUN
arjefm-94	135	42	-2.5678	-2.5678	PUNCT
arjefm-94	136	1	*	*	X
arjefm-94	136	2	mackinnon	mackinnon	PROPN
arjefm-94	136	3	critical	critical	ADJ
arjefm-94	136	4	values	value	NOUN
arjefm-94	136	5	for	for	ADP
arjefm-94	136	6	rejection	rejection	NOUN
arjefm-94	136	7	of	of	ADP
arjefm-94	136	8	hypothesis	hypothesis	NOUN
arjefm-94	136	9	of	of	ADP
arjefm-94	136	10	a	a	DET
arjefm-94	136	11	unit	unit	NOUN
arjefm-94	136	12	root	root	NOUN
arjefm-94	136	13	.	.	PUNCT
arjefm-94	137	1	source	source	NOUN
arjefm-94	137	2	:	:	PUNCT
arjefm-94	137	3	own	own	VERB
arjefm-94	137	4	it	it	PRON
arjefm-94	137	5	was	be	AUX
arjefm-94	137	6	confirmed	confirm	VERB
arjefm-94	137	7	that	that	SCONJ
arjefm-94	137	8	the	the	DET
arjefm-94	137	9	series	series	NOUN
arjefm-94	137	10	ripq	ripq	NOUN
arjefm-94	137	11	has	have	AUX
arjefm-94	137	12	not	not	PART
arjefm-94	137	13	unit	unit	NOUN
arjefm-94	137	14	root	root	NOUN
arjefm-94	137	15	,	,	PUNCT
arjefm-94	137	16	therefore	therefore	ADV
arjefm-94	137	17	,	,	PUNCT
arjefm-94	137	18	we	we	PRON
arjefm-94	137	19	can	can	AUX
arjefm-94	137	20	apply	apply	VERB
arjefm-94	137	21	the	the	DET
arjefm-94	137	22	conventional	conventional	ADJ
arjefm-94	137	23	methodology	methodology	NOUN
arjefm-94	137	24	of	of	ADP
arjefm-94	137	25	analysis	analysis	NOUN
arjefm-94	137	26	for	for	ADP
arjefm-94	137	27	time	time	NOUN
arjefm-94	137	28	series	series	PROPN
arjefm-94	137	29	stationary	stationary	VERB
arjefm-94	137	30	in	in	ADP
arjefm-94	137	31	covariance	covariance	NOUN
arjefm-94	137	32	.	.	PUNCT
arjefm-94	138	1	3.4	3.4	NUM
arjefm-94	138	2	models	model	NOUN
arjefm-94	138	3	for	for	ADP
arjefm-94	138	4	adjusting	adjust	VERB
arjefm-94	138	5	the	the	DET
arjefm-94	138	6	model	model	NOUN
arjefm-94	138	7	series	series	PROPN
arjefm-94	138	8	ripq	ripq	PROPN
arjefm-94	138	9	,	,	PUNCT
arjefm-94	138	10	the	the	DET
arjefm-94	138	11	ar	ar	PROPN
arjefm-94	138	12	and	and	CCONJ
arjefm-94	138	13	ma	ma	PROPN
arjefm-94	138	14	terms	term	NOUN
arjefm-94	138	15	defining	define	VERB
arjefm-94	138	16	the	the	DET
arjefm-94	138	17	process	process	NOUN
arjefm-94	138	18	are	be	AUX
arjefm-94	138	19	identified	identify	VERB
arjefm-94	138	20	,	,	PUNCT
arjefm-94	138	21	using	use	VERB
arjefm-94	138	22	2127	2127	NUM
arjefm-94	138	23	observations	observation	NOUN
arjefm-94	138	24	.	.	PUNCT
arjefm-94	139	1	0	0	NUM
arjefm-94	140	1	10	10	NUM
arjefm-94	140	2	20	20	NUM
arjefm-94	140	3	30	30	NUM
arjefm-94	140	4	40	40	NUM
arjefm-94	140	5	-0.08	-0.08	NUM
arjefm-94	140	6	-0.06	-0.06	NUM
arjefm-94	140	7	-0.04	-0.04	NUM
arjefm-94	140	8	-0.02	-0.02	NUM
arjefm-94	140	9	0.00	0.00	NUM
arjefm-94	140	10	0.02	0.02	NUM
arjefm-94	140	11	0.04	0.04	NUM
arjefm-94	140	12	0.06	0.06	NUM
arjefm-94	140	13	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	140	14	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	140	15	american	american	PROPN
arjefm-94	140	16	research	research	PROPN
arjefm-94	140	17	journal	journal	PROPN
arjefm-94	140	18	of	of	ADP
arjefm-94	140	19	economics	economic	NOUN
arjefm-94	140	20	,	,	PUNCT
arjefm-94	140	21	finance	finance	NOUN
arjefm-94	140	22	and	and	CCONJ
arjefm-94	140	23	management	management	NOUN
arjefm-94	140	24	volume	volume	NOUN
arjefm-94	140	25	11	11	NUM
arjefm-94	140	26	issue	issue	NOUN
arjefm-94	140	27	4	4	NUM
arjefm-94	140	28	,	,	PUNCT
arjefm-94	140	29	october	october	PROPN
arjefm-94	140	30	-	-	PUNCT
arjefm-94	140	31	december	december	PROPN
arjefm-94	140	32	2023	2023	NUM
arjefm-94	140	33	issn	issn	NOUN
arjefm-94	140	34	:	:	PUNCT
arjefm-94	140	35	2836	2836	NUM
arjefm-94	140	36	-	-	SYM
arjefm-94	140	37	9416	9416	NUM
arjefm-94	140	38	impact	impact	NOUN
arjefm-94	140	39	factor	factor	NOUN
arjefm-94	140	40	:	:	PUNCT
arjefm-94	140	41	5.57	5.57	NUM
arjefm-94	140	42	journal	journal	NOUN
arjefm-94	140	43	homepage	homepage	NOUN
arjefm-94	140	44	:	:	PUNCT
arjefm-94	140	45	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	140	46	,	,	PUNCT
arjefm-94	140	47	email	email	NOUN
arjefm-94	140	48	:	:	PUNCT
arjefm-94	140	49	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	140	50	official	official	ADJ
arjefm-94	140	51	journal	journal	PROPN
arjefm-94	140	52	of	of	ADP
arjefm-94	140	53	america	america	PROPN
arjefm-94	140	54	serial	serial	PROPN
arjefm-94	140	55	publication	publication	NOUN
arjefm-94	140	56	american	american	PROPN
arjefm-94	140	57	research	research	PROPN
arjefm-94	140	58	journal	journal	PROPN
arjefm-94	140	59	of	of	ADP
arjefm-94	140	60	economics	economic	NOUN
arjefm-94	140	61	,	,	PUNCT
arjefm-94	140	62	finance	finance	NOUN
arjefm-94	140	63	and	and	CCONJ
arjefm-94	140	64	management	management	NOUN
arjefm-94	140	65	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	140	66	,	,	PUNCT
arjefm-94	140	67	email	email	NOUN
arjefm-94	140	68	:	:	PUNCT
arjefm-94	140	69	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	141	1	72	72	NUM
arjefm-94	142	1	|	|	ADV
arjefm-94	142	2	p	p	X
arjefm-94	142	3	a	a	DET
arjefm-94	142	4	g	g	NOUN
arjefm-94	142	5	e	e	ADP
arjefm-94	142	6	different	different	ADJ
arjefm-94	142	7	estimates	estimate	NOUN
arjefm-94	142	8	were	be	AUX
arjefm-94	142	9	carried	carry	VERB
arjefm-94	142	10	out	out	ADP
arjefm-94	142	11	by	by	ADP
arjefm-94	142	12	ordinary	ordinary	ADJ
arjefm-94	142	13	least	least	ADJ
arjefm-94	142	14	squares	square	NOUN
arjefm-94	142	15	and	and	CCONJ
arjefm-94	142	16	based	base	VERB
arjefm-94	142	17	on	on	ADP
arjefm-94	142	18	the	the	DET
arjefm-94	142	19	akaike	akaike	NOUN
arjefm-94	142	20	,	,	PUNCT
arjefm-94	142	21	schwarz	schwarz	NOUN
arjefm-94	142	22	and	and	CCONJ
arjefm-94	142	23	log	log	VERB
arjefm-94	142	24	likelihood	likelihood	NOUN
arjefm-94	142	25	criteria	criterion	NOUN
arjefm-94	142	26	,	,	PUNCT
arjefm-94	142	27	the	the	DET
arjefm-94	142	28	following	follow	VERB
arjefm-94	142	29	arma	arma	PROPN
arjefm-94	142	30	(	(	PUNCT
arjefm-94	142	31	5,1	5,1	NUM
arjefm-94	142	32	)	)	PUNCT
arjefm-94	142	33	was	be	AUX
arjefm-94	142	34	chosen	choose	VERB
arjefm-94	142	35	.	.	PUNCT
arjefm-94	143	1	the	the	DET
arjefm-94	143	2	results	result	NOUN
arjefm-94	143	3	are	be	AUX
arjefm-94	143	4	summarized	summarize	VERB
arjefm-94	143	5	in	in	ADP
arjefm-94	143	6	table	table	NOUN
arjefm-94	143	7	3	3	NUM
arjefm-94	143	8	.	.	PUNCT
arjefm-94	144	1	ripqt	ripqt	NOUN
arjefm-94	144	2	0	0	NUM
arjefm-94	145	1	1ripqt	1ripqt	NUM
arjefm-94	145	2	1	1	NUM
arjefm-94	145	3	5ripqt	5ripqt	NUM
arjefm-94	145	4	5	5	NUM
arjefm-94	145	5	1	1	NUM
arjefm-94	145	6	t	t	NOUN
arjefm-94	145	7	1	1	NUM
arjefm-94	145	8	t	t	NOUN
arjefm-94	145	9	(	(	PUNCT
arjefm-94	145	10	12	12	NUM
arjefm-94	145	11	)	)	PUNCT
arjefm-94	145	12	rescuing	rescue	VERB
arjefm-94	145	13	the	the	DET
arjefm-94	145	14	residual	residual	NOUN
arjefm-94	145	15	of	of	ADP
arjefm-94	145	16	the	the	DET
arjefm-94	145	17	model	model	NOUN
arjefm-94	145	18	,	,	PUNCT
arjefm-94	145	19	is	be	AUX
arjefm-94	145	20	verified	verify	VERB
arjefm-94	145	21	through	through	ADP
arjefm-94	145	22	the	the	DET
arjefm-94	145	23	arch	arch	ADJ
arjefm-94	145	24	-	-	PUNCT
arjefm-94	145	25	lm	lm	NOUN
arjefm-94	145	26	test	test	NOUN
arjefm-94	145	27	(	(	PUNCT
arjefm-94	145	28	lagrange	lagrange	NOUN
arjefm-94	145	29	multipliers	multiplier	NOUN
arjefm-94	145	30	)	)	PUNCT
arjefm-94	145	31	in	in	ADP
arjefm-94	145	32	order	order	NOUN
arjefm-94	145	33	to	to	PART
arjefm-94	145	34	get	get	VERB
arjefm-94	145	35	the	the	DET
arjefm-94	145	36	residual	residual	NOUN
arjefm-94	145	37	of	of	ADP
arjefm-94	145	38	model	model	NOUN
arjefm-94	145	39	,	,	PUNCT
arjefm-94	145	40	we	we	PRON
arjefm-94	145	41	may	may	AUX
arjefm-94	145	42	identify	identify	VERB
arjefm-94	145	43	trough	trough	NOUN
arjefm-94	145	44	test	test	NOUN
arjefm-94	145	45	arch	arch	NOUN
arjefm-94	145	46	-	-	PUNCT
arjefm-94	145	47	lm	lm	PROPN
arjefm-94	145	48	(	(	PUNCT
arjefm-94	145	49	lagrange	lagrange	PROPN
arjefm-94	145	50	multiplications	multiplication	NOUN
arjefm-94	145	51	)	)	PUNCT
arjefm-94	145	52	,	,	PUNCT
arjefm-94	145	53	if	if	SCONJ
arjefm-94	145	54	the	the	DET
arjefm-94	145	55	squared	square	VERB
arjefm-94	145	56	errors	error	NOUN
arjefm-94	145	57	(	(	PUNCT
arjefm-94	145	58	conditional	conditional	ADJ
arjefm-94	145	59	variance	variance	NOUN
arjefm-94	145	60	are	be	AUX
arjefm-94	145	61	correlated	correlate	VERB
arjefm-94	145	62	with	with	ADP
arjefm-94	145	63	its	its	PRON
arjefm-94	145	64	past	past	NOUN
arjefm-94	145	65	.	.	PUNCT
arjefm-94	146	1	test	test	NOUN
arjefm-94	146	2	result	result	NOUN
arjefm-94	146	3	shows	show	VERB
arjefm-94	146	4	that	that	SCONJ
arjefm-94	146	5	errors	error	NOUN
arjefm-94	146	6	are	be	AUX
arjefm-94	146	7	correlated	correlate	VERB
arjefm-94	146	8	with	with	ADP
arjefm-94	146	9	their	their	PRON
arjefm-94	146	10	immediate	immediate	ADJ
arjefm-94	146	11	past	past	NOUN
arjefm-94	146	12	,	,	PUNCT
arjefm-94	146	13	which	which	PRON
arjefm-94	146	14	indicates	indicate	VERB
arjefm-94	146	15	that	that	SCONJ
arjefm-94	146	16	we	we	PRON
arjefm-94	146	17	have	have	VERB
arjefm-94	146	18	arch	arch	ADJ
arjefm-94	146	19	effects	effect	NOUN
arjefm-94	146	20	(	(	PUNCT
arjefm-94	146	21	1	1	X
arjefm-94	146	22	)	)	PUNCT
arjefm-94	146	23	in	in	ADP
arjefm-94	146	24	the	the	DET
arjefm-94	146	25	arma	arma	PROPN
arjefm-94	146	26	model	model	NOUN
arjefm-94	146	27	.	.	PUNCT
arjefm-94	147	1	the	the	DET
arjefm-94	147	2	ripq	ripq	NOUN
arjefm-94	147	3	series	series	NOUN
arjefm-94	147	4	is	be	AUX
arjefm-94	147	5	volatile	volatile	ADJ
arjefm-94	147	6	.	.	PUNCT
arjefm-94	148	1	these	these	DET
arjefm-94	148	2	results	result	NOUN
arjefm-94	148	3	suggest	suggest	VERB
arjefm-94	148	4	modeling	model	VERB
arjefm-94	148	5	the	the	DET
arjefm-94	148	6	effect	effect	NOUN
arjefm-94	148	7	of	of	ADP
arjefm-94	148	8	the	the	DET
arjefm-94	148	9	autoregressive	autoregressive	ADJ
arjefm-94	148	10	conditional	conditional	ADJ
arjefm-94	148	11	volatility	volatility	NOUN
arjefm-94	148	12	,	,	PUNCT
arjefm-94	148	13	therefore	therefore	ADV
arjefm-94	148	14	,	,	PUNCT
arjefm-94	148	15	a	a	DET
arjefm-94	148	16	garch	garch	NOUN
arjefm-94	148	17	(	(	PUNCT
arjefm-94	148	18	1,1	1,1	NUM
arjefm-94	148	19	)	)	PUNCT
arjefm-94	148	20	model	model	NOUN
arjefm-94	148	21	is	be	AUX
arjefm-94	148	22	proposed	propose	VERB
arjefm-94	148	23	,	,	PUNCT
arjefm-94	148	24	thus	thus	ADV
arjefm-94	148	25	we	we	PRON
arjefm-94	148	26	obtain	obtain	VERB
arjefm-94	148	27	the	the	DET
arjefm-94	148	28	following	follow	VERB
arjefm-94	148	29	equation	equation	NOUN
arjefm-94	148	30	:	:	PUNCT
arjefm-94	148	31	ripqt	ripqt	NOUN
arjefm-94	148	32	0	0	NUM
arjefm-94	149	1	1ripqt	1ripqt	NUM
arjefm-94	149	2	1	1	NUM
arjefm-94	149	3	5ripqt	5ripqt	NUM
arjefm-94	149	4	5	5	NUM
arjefm-94	149	5	1	1	NUM
arjefm-94	149	6	t	t	NOUN
arjefm-94	149	7	1	1	NUM
arjefm-94	149	8	t	t	NOUN
arjefm-94	149	9	(	(	PUNCT
arjefm-94	149	10	13	13	NUM
arjefm-94	149	11	)	)	SYM
arjefm-94	149	12	2	2	NUM
arjefm-94	149	13	2	2	NUM
arjefm-94	149	14	2	2	NUM
arjefm-94	149	15	0	0	NUM
arjefm-94	149	16	1	1	NUM
arjefm-94	149	17	t	t	NOUN
arjefm-94	149	18	1	1	NUM
arjefm-94	149	19	1	1	NUM
arjefm-94	149	20	t	t	NOUN
arjefm-94	149	21	1	1	NUM
arjefm-94	149	22	(	(	PUNCT
arjefm-94	149	23	14	14	NUM
arjefm-94	149	24	)	)	PUNCT
arjefm-94	149	25	when	when	SCONJ
arjefm-94	149	26	estimating	estimate	VERB
arjefm-94	149	27	jointly	jointly	ADV
arjefm-94	149	28	the	the	DET
arjefm-94	149	29	equations	equation	NOUN
arjefm-94	149	30	1	1	NUM
arjefm-94	149	31	)	)	PUNCT
arjefm-94	149	32	and	and	CCONJ
arjefm-94	149	33	2	2	NUM
arjefm-94	149	34	)	)	PUNCT
arjefm-94	149	35	by	by	ADP
arjefm-94	149	36	the	the	DET
arjefm-94	149	37	method	method	NOUN
arjefm-94	149	38	of	of	ADP
arjefm-94	149	39	maximum	maximum	ADJ
arjefm-94	149	40	likelihood	likelihood	NOUN
arjefm-94	149	41	,	,	PUNCT
arjefm-94	149	42	it	it	PRON
arjefm-94	149	43	is	be	AUX
arjefm-94	149	44	observed	observe	VERB
arjefm-94	149	45	that	that	SCONJ
arjefm-94	149	46	the	the	DET
arjefm-94	149	47	parameters	parameter	NOUN
arjefm-94	149	48	of	of	ADP
arjefm-94	149	49	the	the	DET
arjefm-94	149	50	terms	term	NOUN
arjefm-94	149	51	ar	ar	VERB
arjefm-94	149	52	(	(	PUNCT
arjefm-94	149	53	1	1	NUM
arjefm-94	149	54	)	)	PUNCT
arjefm-94	149	55	,	,	PUNCT
arjefm-94	149	56	ar	ar	PROPN
arjefm-94	149	57	(	(	PUNCT
arjefm-94	149	58	5	5	NUM
arjefm-94	149	59	)	)	PUNCT
arjefm-94	149	60	,	,	PUNCT
arjefm-94	149	61	ma	ma	PROPN
arjefm-94	149	62	(	(	PUNCT
arjefm-94	149	63	1	1	NUM
arjefm-94	149	64	)	)	PUNCT
arjefm-94	149	65	,	,	PUNCT
arjefm-94	149	66	arch	arch	NOUN
arjefm-94	149	67	(	(	PUNCT
arjefm-94	149	68	1	1	NUM
arjefm-94	149	69	)	)	PUNCT
arjefm-94	149	70	and	and	CCONJ
arjefm-94	149	71	garch	garch	NOUN
arjefm-94	149	72	(	(	PUNCT
arjefm-94	149	73	1	1	X
arjefm-94	149	74	)	)	PUNCT
arjefm-94	149	75	is	be	AUX
arjefm-94	149	76	significant	significant	ADJ
arjefm-94	149	77	according	accord	VERB
arjefm-94	149	78	to	to	ADP
arjefm-94	149	79	statistical	statistical	ADJ
arjefm-94	149	80	z.	z.	PROPN
arjefm-94	149	81	as	as	SCONJ
arjefm-94	149	82	shown	show	VERB
arjefm-94	149	83	,	,	PUNCT
arjefm-94	149	84	the	the	DET
arjefm-94	149	85	value	value	NOUN
arjefm-94	149	86	of	of	ADP
arjefm-94	149	87	the	the	DET
arjefm-94	149	88	sum	sum	NOUN
arjefm-94	149	89	of	of	ADP
arjefm-94	149	90	the	the	DET
arjefm-94	149	91	coefficients	coefficient	NOUN
arjefm-94	149	92	of	of	ADP
arjefm-94	149	93	arch	arch	ADJ
arjefm-94	149	94	and	and	CCONJ
arjefm-94	149	95	garch	garch	NOUN
arjefm-94	149	96	term	term	NOUN
arjefm-94	149	97	(	(	PUNCT
arjefm-94	149	98	0.081392	0.081392	NUM
arjefm-94	149	99	+	+	NOUN
arjefm-94	149	100	0.89368	0.89368	NUM
arjefm-94	149	101	=	=	SYM
arjefm-94	149	102	0.975072	0.975072	NUM
arjefm-94	149	103	)	)	PUNCT
arjefm-94	149	104	is	be	AUX
arjefm-94	149	105	very	very	ADV
arjefm-94	149	106	close	close	ADJ
arjefm-94	149	107	to	to	ADP
arjefm-94	149	108	1	1	NUM
arjefm-94	149	109	,	,	PUNCT
arjefm-94	149	110	which	which	PRON
arjefm-94	149	111	shows	show	VERB
arjefm-94	149	112	the	the	DET
arjefm-94	149	113	existence	existence	NOUN
arjefm-94	149	114	of	of	ADP
arjefm-94	149	115	high	high	ADJ
arjefm-94	149	116	volatility	volatility	NOUN
arjefm-94	149	117	.	.	PUNCT
arjefm-94	150	1	this	this	PRON
arjefm-94	150	2	suggests	suggest	VERB
arjefm-94	150	3	that	that	SCONJ
arjefm-94	150	4	given	give	VERB
arjefm-94	150	5	the	the	DET
arjefm-94	150	6	possibility	possibility	NOUN
arjefm-94	150	7	of	of	ADP
arjefm-94	150	8	a	a	DET
arjefm-94	150	9	shock	shock	NOUN
arjefm-94	150	10	expected	expect	VERB
arjefm-94	150	11	market	market	NOUN
arjefm-94	150	12	the	the	DET
arjefm-94	150	13	fluctuations	fluctuation	NOUN
arjefm-94	150	14	do	do	AUX
arjefm-94	150	15	not	not	PART
arjefm-94	150	16	stop	stop	VERB
arjefm-94	150	17	in	in	ADP
arjefm-94	150	18	the	the	DET
arjefm-94	150	19	near	near	ADJ
arjefm-94	150	20	term	term	NOUN
arjefm-94	150	21	.	.	PUNCT
arjefm-94	151	1	this	this	PRON
arjefm-94	151	2	is	be	AUX
arjefm-94	151	3	a	a	DET
arjefm-94	151	4	signal	signal	NOUN
arjefm-94	151	5	of	of	ADP
arjefm-94	151	6	high	high	ADJ
arjefm-94	151	7	risk	risk	NOUN
arjefm-94	151	8	.	.	PUNCT
arjefm-94	152	1	similarly	similarly	ADV
arjefm-94	152	2	,	,	PUNCT
arjefm-94	152	3	considering	consider	VERB
arjefm-94	152	4	that	that	SCONJ
arjefm-94	152	5	the	the	DET
arjefm-94	152	6	sum	sum	NOUN
arjefm-94	152	7	of	of	ADP
arjefm-94	152	8	both	both	DET
arjefm-94	152	9	parameters	parameter	NOUN
arjefm-94	152	10	is	be	AUX
arjefm-94	152	11	less	less	ADJ
arjefm-94	152	12	than	than	ADP
arjefm-94	152	13	unity	unity	NOUN
arjefm-94	152	14	,	,	PUNCT
arjefm-94	152	15	the	the	DET
arjefm-94	152	16	proposed	propose	VERB
arjefm-94	152	17	garch	garch	NOUN
arjefm-94	152	18	(	(	PUNCT
arjefm-94	152	19	1,1	1,1	NUM
arjefm-94	152	20	)	)	PUNCT
arjefm-94	152	21	model	model	NOUN
arjefm-94	152	22	is	be	AUX
arjefm-94	152	23	a	a	DET
arjefm-94	152	24	stationary	stationary	ADJ
arjefm-94	152	25	process	process	NOUN
arjefm-94	152	26	.	.	PUNCT
arjefm-94	153	1	in	in	ADP
arjefm-94	153	2	order	order	NOUN
arjefm-94	153	3	to	to	PART
arjefm-94	153	4	verify	verify	VERB
arjefm-94	153	5	this	this	PRON
arjefm-94	153	6	,	,	PUNCT
arjefm-94	153	7	the	the	DET
arjefm-94	153	8	wald	wald	NOUN
arjefm-94	153	9	test	test	NOUN
arjefm-94	153	10	was	be	AUX
arjefm-94	153	11	performed	perform	VERB
arjefm-94	153	12	.	.	PUNCT
arjefm-94	154	1	the	the	DET
arjefm-94	154	2	test	test	NOUN
arjefm-94	154	3	arch	arch	NOUN
arjefm-94	154	4	-	-	PUNCT
arjefm-94	154	5	lm	lm	NUM
arjefm-94	154	6	shows	show	NOUN
arjefm-94	154	7	that	that	PRON
arjefm-94	154	8	are	be	AUX
arjefm-94	154	9	not	not	PART
arjefm-94	154	10	taken	take	VERB
arjefm-94	154	11	problems	problem	NOUN
arjefm-94	154	12	of	of	ADP
arjefm-94	154	13	heteroscedasticity	heteroscedasticity	NOUN
arjefm-94	154	14	in	in	ADP
arjefm-94	154	15	the	the	DET
arjefm-94	154	16	model	model	NOUN
arjefm-94	154	17	.	.	PUNCT
arjefm-94	155	1	for	for	ADP
arjefm-94	155	2	describing	describe	VERB
arjefm-94	155	3	the	the	DET
arjefm-94	155	4	asymmetric	asymmetric	ADJ
arjefm-94	155	5	market	market	NOUN
arjefm-94	155	6	response	response	NOUN
arjefm-94	155	7	under	under	ADP
arjefm-94	155	8	positive	positive	ADJ
arjefm-94	155	9	and	and	CCONJ
arjefm-94	155	10	negative	negative	ADJ
arjefm-94	155	11	shock	shock	NOUN
arjefm-94	155	12	,	,	PUNCT
arjefm-94	155	13	we	we	PRON
arjefm-94	155	14	proceed	proceed	VERB
arjefm-94	155	15	to	to	PART
arjefm-94	155	16	estimate	estimate	VERB
arjefm-94	155	17	the	the	DET
arjefm-94	155	18	egarch	egarch	NOUN
arjefm-94	155	19	(	(	PUNCT
arjefm-94	155	20	1,1	1,1	NUM
arjefm-94	155	21	)	)	PUNCT
arjefm-94	155	22	model	model	NOUN
arjefm-94	155	23	and	and	CCONJ
arjefm-94	155	24	tarch	tarch	NOUN
arjefm-94	155	25	(	(	PUNCT
arjefm-94	155	26	1,1	1,1	NUM
arjefm-94	155	27	)	)	PUNCT
arjefm-94	155	28	model	model	NOUN
arjefm-94	155	29	.	.	PUNCT
arjefm-94	156	1	the	the	DET
arjefm-94	156	2	first	first	ADJ
arjefm-94	156	3	results	result	NOUN
arjefm-94	156	4	show	show	VERB
arjefm-94	156	5	that	that	SCONJ
arjefm-94	156	6	skewness	skewness	NOUN
arjefm-94	156	7	coefficient	coefficient	NOUN
arjefm-94	156	8	is	be	AUX
arjefm-94	156	9	statistically	statistically	ADV
arjefm-94	156	10	different	different	ADJ
arjefm-94	156	11	from	from	ADP
arjefm-94	156	12	zero	zero	NUM
arjefm-94	156	13	(	(	PUNCT
arjefm-94	156	14	z	z	NOUN
arjefm-94	156	15	=	=	PUNCT
arjefm-94	156	16	-6.104619	-6.104619	PRON
arjefm-94	156	17	)	)	PUNCT
arjefm-94	156	18	and	and	CCONJ
arjefm-94	156	19	negative	negative	ADJ
arjefm-94	156	20	(	(	PUNCT
arjefm-94	156	21	-0.117746	-0.117746	NOUN
arjefm-94	156	22	)	)	PUNCT
arjefm-94	156	23	which	which	PRON
arjefm-94	156	24	gives	give	VERB
arjefm-94	156	25	evidence	evidence	NOUN
arjefm-94	156	26	of	of	ADP
arjefm-94	156	27	leverage	leverage	NOUN
arjefm-94	156	28	effect	effect	NOUN
arjefm-94	156	29	on	on	ADP
arjefm-94	156	30	the	the	DET
arjefm-94	156	31	mexican	mexican	ADJ
arjefm-94	156	32	stock	stock	NOUN
arjefm-94	156	33	market	market	NOUN
arjefm-94	156	34	for	for	ADP
arjefm-94	156	35	the	the	DET
arjefm-94	156	36	sample	sample	NOUN
arjefm-94	156	37	period	period	NOUN
arjefm-94	156	38	.	.	PUNCT
arjefm-94	157	1	this	this	PRON
arjefm-94	157	2	is	be	AUX
arjefm-94	157	3	,	,	PUNCT
arjefm-94	157	4	volatility	volatility	NOUN
arjefm-94	157	5	caused	cause	VERB
arjefm-94	157	6	by	by	ADP
arjefm-94	157	7	negative	negative	ADJ
arjefm-94	157	8	shocks	shock	NOUN
arjefm-94	157	9	is	be	AUX
arjefm-94	157	10	greater	great	ADJ
arjefm-94	157	11	than	than	ADP
arjefm-94	157	12	those	those	PRON
arjefm-94	157	13	caused	cause	VERB
arjefm-94	157	14	by	by	ADP
arjefm-94	157	15	positive	positive	ADJ
arjefm-94	157	16	shock	shock	NOUN
arjefm-94	157	17	.	.	PUNCT
arjefm-94	158	1	results	result	NOUN
arjefm-94	158	2	of	of	ADP
arjefm-94	158	3	the	the	DET
arjefm-94	158	4	second	second	ADJ
arjefm-94	158	5	model	model	NOUN
arjefm-94	158	6	show	show	VERB
arjefm-94	158	7	that	that	SCONJ
arjefm-94	158	8	the	the	DET
arjefm-94	158	9	asymmetry	asymmetry	NOUN
arjefm-94	158	10	coefficient	coefficient	NOUN
arjefm-94	158	11	is	be	AUX
arjefm-94	158	12	statistically	statistically	ADV
arjefm-94	158	13	different	different	ADJ
arjefm-94	158	14	from	from	ADP
arjefm-94	158	15	zero	zero	NUM
arjefm-94	158	16	(	(	PUNCT
arjefm-94	158	17	z	z	NOUN
arjefm-94	158	18	=	=	SYM
arjefm-94	158	19	5.776392	5.776392	NUM
arjefm-94	158	20	)	)	PUNCT
arjefm-94	158	21	and	and	CCONJ
arjefm-94	158	22	positive	positive	ADJ
arjefm-94	158	23	(	(	PUNCT
arjefm-94	158	24	0.163874	0.163874	NUM
arjefm-94	158	25	)	)	PUNCT
arjefm-94	158	26	,	,	PUNCT
arjefm-94	158	27	which	which	PRON
arjefm-94	158	28	also	also	ADV
arjefm-94	158	29	shows	show	VERB
arjefm-94	158	30	evidence	evidence	NOUN
arjefm-94	158	31	of	of	ADP
arjefm-94	158	32	leverage	leverage	NOUN
arjefm-94	158	33	effect	effect	NOUN
arjefm-94	158	34	.	.	PUNCT
arjefm-94	159	1	this	this	PRON
arjefm-94	159	2	is	be	AUX
arjefm-94	159	3	consistent	consistent	ADJ
arjefm-94	159	4	with	with	ADP
arjefm-94	159	5	the	the	DET
arjefm-94	159	6	bulk	bulk	NOUN
arjefm-94	159	7	of	of	ADP
arjefm-94	159	8	the	the	DET
arjefm-94	159	9	research	research	NOUN
arjefm-94	159	10	.	.	PUNCT
arjefm-94	160	1	table	table	NOUN
arjefm-94	160	2	3	3	NUM
arjefm-94	160	3	:	:	PUNCT
arjefm-94	160	4	parameter	parameter	NOUN
arjefm-94	160	5	estimates	estimate	NOUN
arjefm-94	160	6	and	and	CCONJ
arjefm-94	160	7	diagnostics	diagnostic	NOUN
arjefm-94	160	8	of	of	ADP
arjefm-94	160	9	the	the	DET
arjefm-94	160	10	models	model	NOUN
arjefm-94	160	11	models	model	NOUN
arjefm-94	160	12	terms	term	NOUN
arjefm-94	160	13	arma	arma	PROPN
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arjefm-94	165	1	|	|	ADV
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arjefm-94	173	38	(	(	PUNCT
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arjefm-94	173	51	model	model	NOUN
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arjefm-94	174	11	to	to	ADP
arjefm-94	174	12	egarch	egarch	PROPN
arjefm-94	174	13	(	(	PUNCT
arjefm-94	174	14	1,1	1,1	NUM
arjefm-94	174	15	)	)	PUNCT
arjefm-94	174	16	is	be	AUX
arjefm-94	174	17	minimum	minimum	ADJ
arjefm-94	174	18	,	,	PUNCT
arjefm-94	174	19	indicating	indicate	VERB
arjefm-94	174	20	that	that	PRON
arjefm-94	174	21	is	be	AUX
arjefm-94	174	22	the	the	DET
arjefm-94	174	23	best	good	ADJ
arjefm-94	174	24	fit	fit	ADJ
arjefm-94	174	25	model	model	NOUN
arjefm-94	174	26	.	.	PUNCT
arjefm-94	175	1	however	however	ADV
arjefm-94	175	2	,	,	PUNCT
arjefm-94	175	3	the	the	DET
arjefm-94	175	4	decomposition	decomposition	NOUN
arjefm-94	175	5	of	of	ADP
arjefm-94	175	6	the	the	DET
arjefm-94	175	7	mean	mean	ADJ
arjefm-94	175	8	square	square	ADJ
arjefm-94	175	9	error	error	NOUN
arjefm-94	175	10	given	give	VERB
arjefm-94	175	11	by	by	ADP
arjefm-94	175	12	the	the	DET
arjefm-94	175	13	bias	bias	NOUN
arjefm-94	175	14	ratio	ratio	NOUN
arjefm-94	175	15	variance	variance	NOUN
arjefm-94	175	16	and	and	CCONJ
arjefm-94	175	17	covariance	covariance	NOUN
arjefm-94	175	18	shows	show	VERB
arjefm-94	175	19	that	that	PRON
arjefm-94	175	20	garch	garch	NOUN
arjefm-94	175	21	(	(	PUNCT
arjefm-94	175	22	1,1	1,1	NUM
arjefm-94	175	23	)	)	PUNCT
arjefm-94	175	24	overcomes	overcome	VERB
arjefm-94	175	25	the	the	DET
arjefm-94	175	26	other	other	ADJ
arjefm-94	175	27	models	model	NOUN
arjefm-94	175	28	.	.	PUNCT
arjefm-94	176	1	according	accord	VERB
arjefm-94	176	2	to	to	ADP
arjefm-94	176	3	the	the	DET
arjefm-94	176	4	value	value	NOUN
arjefm-94	176	5	of	of	ADP
arjefm-94	176	6	the	the	DET
arjefm-94	176	7	errors	error	NOUN
arjefm-94	176	8	of	of	ADP
arjefm-94	176	9	each	each	PRON
arjefm-94	176	10	of	of	ADP
arjefm-94	176	11	the	the	DET
arjefm-94	176	12	models	model	NOUN
arjefm-94	176	13	,	,	PUNCT
arjefm-94	176	14	the	the	DET
arjefm-94	176	15	forecast	forecast	NOUN
arjefm-94	176	16	errors	error	NOUN
arjefm-94	176	17	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	176	18	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	176	19	american	american	PROPN
arjefm-94	176	20	research	research	PROPN
arjefm-94	176	21	journal	journal	PROPN
arjefm-94	176	22	of	of	ADP
arjefm-94	176	23	economics	economic	NOUN
arjefm-94	176	24	,	,	PUNCT
arjefm-94	176	25	finance	finance	NOUN
arjefm-94	176	26	and	and	CCONJ
arjefm-94	176	27	management	management	NOUN
arjefm-94	176	28	volume	volume	NOUN
arjefm-94	176	29	11	11	NUM
arjefm-94	176	30	issue	issue	NOUN
arjefm-94	176	31	4	4	NUM
arjefm-94	176	32	,	,	PUNCT
arjefm-94	176	33	october	october	PROPN
arjefm-94	176	34	-	-	PUNCT
arjefm-94	176	35	december	december	PROPN
arjefm-94	176	36	2023	2023	NUM
arjefm-94	176	37	issn	issn	NOUN
arjefm-94	176	38	:	:	PUNCT
arjefm-94	176	39	2836	2836	NUM
arjefm-94	176	40	-	-	SYM
arjefm-94	176	41	9416	9416	NUM
arjefm-94	176	42	impact	impact	NOUN
arjefm-94	176	43	factor	factor	NOUN
arjefm-94	176	44	:	:	PUNCT
arjefm-94	176	45	5.57	5.57	NUM
arjefm-94	176	46	journal	journal	NOUN
arjefm-94	176	47	homepage	homepage	NOUN
arjefm-94	176	48	:	:	PUNCT
arjefm-94	176	49	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	176	50	,	,	PUNCT
arjefm-94	176	51	email	email	NOUN
arjefm-94	176	52	:	:	PUNCT
arjefm-94	176	53	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	176	54	official	official	ADJ
arjefm-94	176	55	journal	journal	PROPN
arjefm-94	176	56	of	of	ADP
arjefm-94	176	57	america	america	PROPN
arjefm-94	176	58	serial	serial	PROPN
arjefm-94	176	59	publication	publication	NOUN
arjefm-94	176	60	american	american	PROPN
arjefm-94	176	61	research	research	PROPN
arjefm-94	176	62	journal	journal	PROPN
arjefm-94	176	63	of	of	ADP
arjefm-94	176	64	economics	economic	NOUN
arjefm-94	176	65	,	,	PUNCT
arjefm-94	176	66	finance	finance	NOUN
arjefm-94	176	67	and	and	CCONJ
arjefm-94	176	68	management	management	NOUN
arjefm-94	176	69	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	176	70	,	,	PUNCT
arjefm-94	176	71	email	email	NOUN
arjefm-94	176	72	:	:	PUNCT
arjefm-94	176	73	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	177	1	74	74	NUM
arjefm-94	178	1	|	|	ADV
arjefm-94	178	2	p	p	X
arjefm-94	178	3	a	a	DET
arjefm-94	178	4	g	g	NOUN
arjefm-94	178	5	e	e	NOUN
arjefm-94	178	6	(	(	PUNCT
arjefm-94	178	7	proportion	proportion	NOUN
arjefm-94	178	8	of	of	ADP
arjefm-94	178	9	bias	bias	NOUN
arjefm-94	178	10	and	and	CCONJ
arjefm-94	178	11	proportion	proportion	NOUN
arjefm-94	178	12	of	of	ADP
arjefm-94	178	13	variance	variance	NOUN
arjefm-94	178	14	)	)	PUNCT
arjefm-94	178	15	are	be	AUX
arjefm-94	178	16	very	very	ADV
arjefm-94	178	17	large	large	ADJ
arjefm-94	178	18	,	,	PUNCT
arjefm-94	178	19	up	up	ADV
arjefm-94	178	20	from	from	ADP
arjefm-94	178	21	0.1	0.1	NUM
arjefm-94	178	22	for	for	ADP
arjefm-94	178	23	the	the	DET
arjefm-94	178	24	case	case	NOUN
arjefm-94	178	25	of	of	ADP
arjefm-94	178	26	bias	bias	NOUN
arjefm-94	178	27	,	,	PUNCT
arjefm-94	178	28	which	which	PRON
arjefm-94	178	29	means	mean	VERB
arjefm-94	178	30	the	the	DET
arjefm-94	178	31	presence	presence	NOUN
arjefm-94	178	32	of	of	ADP
arjefm-94	178	33	a	a	DET
arjefm-94	178	34	systematic	systematic	ADJ
arjefm-94	178	35	bias	bias	NOUN
arjefm-94	178	36	(	(	PUNCT
arjefm-94	178	37	pindyck	pindyck	ADJ
arjefm-94	178	38	,	,	PUNCT
arjefm-94	178	39	2001	2001	NUM
arjefm-94	178	40	)	)	PUNCT
arjefm-94	178	41	.	.	PUNCT
arjefm-94	179	1	table	table	NOUN
arjefm-94	179	2	4	4	NUM
arjefm-94	179	3	:	:	PUNCT
arjefm-94	180	1	assessment	assessment	NOUN
arjefm-94	180	2	of	of	ADP
arjefm-94	180	3	predictive	predictive	ADJ
arjefm-94	180	4	ability	ability	NOUN
arjefm-94	180	5	of	of	ADP
arjefm-94	180	6	the	the	DET
arjefm-94	180	7	models	model	NOUN
arjefm-94	180	8	indicator	indicator	NOUN
arjefm-94	180	9	garch(1,1	garch(1,1	NOUN
arjefm-94	180	10	)	)	PUNCT
arjefm-94	180	11	egarch(1,1	egarch(1,1	ADJ
arjefm-94	180	12	)	)	PUNCT
arjefm-94	180	13	tarch(1,1	tarch(1,1	NOUN
arjefm-94	180	14	)	)	PUNCT
arjefm-94	180	15	root	root	NOUN
arjefm-94	180	16	mean	mean	ADJ
arjefm-94	180	17	square	square	ADJ
arjefm-94	180	18	error	error	NOUN
arjefm-94	180	19	1345.00	1345.00	NUM
arjefm-94	180	20	1260.474	1260.474	NUM
arjefm-94	180	21	1274.684	1274.684	NUM
arjefm-94	180	22	mean	mean	VERB
arjefm-94	180	23	absolute	absolute	ADJ
arjefm-94	180	24	error	error	NOUN
arjefm-94	180	25	1234.881	1234.881	NUM
arjefm-94	180	26	1158.502	1158.502	NUM
arjefm-94	180	27	1171.084	1171.084	NUM
arjefm-94	180	28	theil	theil	PROPN
arjefm-94	180	29	inequality	inequality	NOUN
arjefm-94	180	30	coefficient	coefficient	VERB
arjefm-94	180	31	0.023207	0.023207	NUM
arjefm-94	180	32	0.021778	0.021778	NUM
arjefm-94	180	33	0.022018	0.022018	NUM
arjefm-94	180	34	proportion	proportion	NOUN
arjefm-94	180	35	of	of	ADP
arjefm-94	180	36	bias	bias	NOUN
arjefm-94	180	37	0.842957	0.842957	NUM
arjefm-94	180	38	0.844744	0.844744	NUM
arjefm-94	180	39	0.844056	0.844056	NUM
arjefm-94	180	40	proportion	proportion	NOUN
arjefm-94	180	41	of	of	ADP
arjefm-94	180	42	variance	variance	NOUN
arjefm-94	180	43	0.064700	0.064700	NUM
arjefm-94	180	44	0.091298	0.091298	NUM
arjefm-94	180	45	0.085941	0.085941	NUM
arjefm-94	180	46	proportion	proportion	NOUN
arjefm-94	180	47	of	of	ADP
arjefm-94	180	48	covariance	covariance	NOUN
arjefm-94	180	49	0.092344	0.092344	NUM
arjefm-94	180	50	0.063958	0.063958	NUM
arjefm-94	180	51	0.070004	0.070004	NUM
arjefm-94	180	52	source	source	NOUN
arjefm-94	180	53	:	:	PUNCT
arjefm-94	180	54	own	own	ADJ
arjefm-94	180	55	4	4	NUM
arjefm-94	180	56	.	.	PUNCT
arjefm-94	180	57	conclusions	conclusion	NOUN
arjefm-94	180	58	to	to	PART
arjefm-94	180	59	determine	determine	VERB
arjefm-94	180	60	which	which	PRON
arjefm-94	180	61	is	be	AUX
arjefm-94	180	62	the	the	DET
arjefm-94	180	63	model	model	NOUN
arjefm-94	180	64	that	that	PRON
arjefm-94	180	65	explain	explain	VERB
arjefm-94	180	66	more	more	ADV
arjefm-94	180	67	precisely	precisely	ADV
arjefm-94	180	68	the	the	DET
arjefm-94	180	69	behavior	behavior	NOUN
arjefm-94	180	70	of	of	ADP
arjefm-94	180	71	the	the	DET
arjefm-94	180	72	mexican	mexican	ADJ
arjefm-94	180	73	stock	stock	NOUN
arjefm-94	180	74	market	market	NOUN
arjefm-94	180	75	index	index	NOUN
arjefm-94	180	76	for	for	ADP
arjefm-94	180	77	the	the	DET
arjefm-94	180	78	period	period	NOUN
arjefm-94	180	79	january	january	PROPN
arjefm-94	180	80	3th	3th	NOUN
arjefm-94	180	81	,	,	PUNCT
arjefm-94	180	82	2000	2000	NUM
arjefm-94	180	83	to	to	ADP
arjefm-94	180	84	july	july	PROPN
arjefm-94	180	85	11th	11th	NOUN
arjefm-94	180	86	,	,	PUNCT
arjefm-94	180	87	2008	2008	NUM
arjefm-94	180	88	has	have	AUX
arjefm-94	180	89	been	be	AUX
arjefm-94	180	90	used	use	VERB
arjefm-94	180	91	an	an	DET
arjefm-94	180	92	arma	arma	NOUN
arjefm-94	180	93	model	model	NOUN
arjefm-94	180	94	(	(	PUNCT
arjefm-94	180	95	5.1	5.1	NUM
arjefm-94	180	96	)	)	PUNCT
arjefm-94	180	97	in	in	ADP
arjefm-94	180	98	which	which	PRON
arjefm-94	180	99	the	the	DET
arjefm-94	180	100	arch	arch	ADJ
arjefm-94	180	101	effects	effect	NOUN
arjefm-94	180	102	are	be	AUX
arjefm-94	180	103	identified	identify	VERB
arjefm-94	180	104	,	,	PUNCT
arjefm-94	180	105	so	so	SCONJ
arjefm-94	180	106	the	the	DET
arjefm-94	180	107	process	process	NOUN
arjefm-94	180	108	is	be	AUX
arjefm-94	180	109	modeled	model	VERB
arjefm-94	180	110	through	through	ADP
arjefm-94	180	111	the	the	DET
arjefm-94	180	112	models	model	NOUN
arjefm-94	180	113	from	from	ADP
arjefm-94	180	114	the	the	DET
arjefm-94	180	115	arch	arch	ADJ
arjefm-94	180	116	/	/	SYM
arjefm-94	180	117	garch	garch	NOUN
arjefm-94	180	118	family	family	NOUN
arjefm-94	180	119	.	.	PUNCT
arjefm-94	181	1	the	the	DET
arjefm-94	181	2	findings	finding	NOUN
arjefm-94	181	3	of	of	ADP
arjefm-94	181	4	this	this	DET
arjefm-94	181	5	research	research	NOUN
arjefm-94	181	6	provide	provide	VERB
arjefm-94	181	7	evidence	evidence	NOUN
arjefm-94	181	8	on	on	ADP
arjefm-94	181	9	the	the	DET
arjefm-94	181	10	existence	existence	NOUN
arjefm-94	181	11	of	of	ADP
arjefm-94	181	12	highly	highly	ADV
arjefm-94	181	13	persistent	persistent	ADJ
arjefm-94	181	14	volatility	volatility	NOUN
arjefm-94	181	15	of	of	ADP
arjefm-94	181	16	returns	return	NOUN
arjefm-94	181	17	of	of	ADP
arjefm-94	181	18	the	the	DET
arjefm-94	181	19	ipc	ipc	PROPN
arjefm-94	181	20	.	.	PUNCT
arjefm-94	182	1	the	the	DET
arjefm-94	182	2	significance	significance	NOUN
arjefm-94	182	3	of	of	ADP
arjefm-94	182	4	the	the	DET
arjefm-94	182	5	asymmetry	asymmetry	NOUN
arjefm-94	182	6	parameters	parameter	NOUN
arjefm-94	182	7	about	about	ADP
arjefm-94	182	8	tarch	tarch	NOUN
arjefm-94	182	9	and	and	CCONJ
arjefm-94	182	10	egarch	egarch	NOUN
arjefm-94	182	11	models	model	NOUN
arjefm-94	182	12	suggest	suggest	VERB
arjefm-94	182	13	the	the	DET
arjefm-94	182	14	existence	existence	NOUN
arjefm-94	182	15	of	of	ADP
arjefm-94	182	16	the	the	DET
arjefm-94	182	17	leverage	leverage	NOUN
arjefm-94	182	18	effect	effect	NOUN
arjefm-94	182	19	.	.	PUNCT
arjefm-94	183	1	the	the	DET
arjefm-94	183	2	volatility	volatility	NOUN
arjefm-94	183	3	of	of	ADP
arjefm-94	183	4	returns	return	NOUN
arjefm-94	183	5	of	of	ADP
arjefm-94	183	6	the	the	DET
arjefm-94	183	7	ipc	ipc	PROPN
arjefm-94	183	8	caused	cause	VERB
arjefm-94	183	9	by	by	ADP
arjefm-94	183	10	the	the	DET
arjefm-94	183	11	bad	bad	ADJ
arjefm-94	183	12	news	news	NOUN
arjefm-94	183	13	is	be	AUX
arjefm-94	183	14	greater	great	ADJ
arjefm-94	183	15	than	than	ADP
arjefm-94	183	16	those	those	PRON
arjefm-94	183	17	caused	cause	VERB
arjefm-94	183	18	by	by	ADP
arjefm-94	183	19	the	the	DET
arjefm-94	183	20	good	good	PROPN
arjefm-94	183	21	news	news	PROPN
arjefm-94	183	22	.	.	PUNCT
arjefm-94	184	1	the	the	DET
arjefm-94	184	2	above	above	ADJ
arjefm-94	184	3	evidence	evidence	NOUN
arjefm-94	184	4	is	be	AUX
arjefm-94	184	5	consistent	consistent	ADJ
arjefm-94	184	6	with	with	ADP
arjefm-94	184	7	the	the	DET
arjefm-94	184	8	bulk	bulk	NOUN
arjefm-94	184	9	of	of	ADP
arjefm-94	184	10	research	research	NOUN
arjefm-94	184	11	on	on	ADP
arjefm-94	184	12	the	the	DET
arjefm-94	184	13	volatility	volatility	NOUN
arjefm-94	184	14	of	of	ADP
arjefm-94	184	15	returns	return	NOUN
arjefm-94	184	16	of	of	ADP
arjefm-94	184	17	stock	stock	NOUN
arjefm-94	184	18	prices	price	NOUN
arjefm-94	184	19	and	and	CCONJ
arjefm-94	184	20	stock	stock	NOUN
arjefm-94	184	21	indices	index	NOUN
arjefm-94	184	22	.	.	PUNCT
arjefm-94	185	1	garch	garch	NOUN
arjefm-94	185	2	(	(	PUNCT
arjefm-94	185	3	1,1	1,1	NUM
arjefm-94	185	4	)	)	PUNCT
arjefm-94	185	5	,	,	PUNCT
arjefm-94	185	6	egarch	egarch	NOUN
arjefm-94	185	7	(	(	PUNCT
arjefm-94	185	8	1,1	1,1	NUM
arjefm-94	185	9	)	)	PUNCT
arjefm-94	185	10	and	and	CCONJ
arjefm-94	185	11	tarch	tarch	NOUN
arjefm-94	185	12	(	(	PUNCT
arjefm-94	185	13	1,1	1,1	NUM
arjefm-94	185	14	)	)	PUNCT
arjefm-94	185	15	models	model	NOUN
arjefm-94	185	16	,	,	PUNCT
arjefm-94	185	17	allow	allow	VERB
arjefm-94	185	18	us	we	PRON
arjefm-94	185	19	suitably	suitably	ADV
arjefm-94	185	20	adjust	adjust	VERB
arjefm-94	185	21	the	the	DET
arjefm-94	185	22	ipc	ipc	PROPN
arjefm-94	185	23	series	series	PROPN
arjefm-94	185	24	.	.	PUNCT
arjefm-94	186	1	however	however	ADV
arjefm-94	186	2	,	,	PUNCT
arjefm-94	186	3	the	the	DET
arjefm-94	186	4	egarch	egarch	NOUN
arjefm-94	186	5	(	(	PUNCT
arjefm-94	186	6	1,1	1,1	NUM
arjefm-94	186	7	)	)	PUNCT
arjefm-94	186	8	model	model	NOUN
arjefm-94	186	9	shows	show	VERB
arjefm-94	186	10	to	to	PART
arjefm-94	186	11	be	be	AUX
arjefm-94	186	12	the	the	DET
arjefm-94	186	13	best	good	ADJ
arjefm-94	186	14	model	model	NOUN
arjefm-94	186	15	for	for	ADP
arjefm-94	186	16	estimating	estimate	VERB
arjefm-94	186	17	according	accord	VERB
arjefm-94	186	18	to	to	ADP
arjefm-94	186	19	the	the	DET
arjefm-94	186	20	standard	standard	ADJ
arjefm-94	186	21	evaluation	evaluation	NOUN
arjefm-94	186	22	criteria	criterion	NOUN
arjefm-94	186	23	.	.	PUNCT
arjefm-94	187	1	the	the	DET
arjefm-94	187	2	forecasting	forecasting	NOUN
arjefm-94	187	3	results	result	NOUN
arjefm-94	187	4	by	by	ADP
arjefm-94	187	5	using	use	VERB
arjefm-94	187	6	the	the	DET
arjefm-94	187	7	three	three	NUM
arjefm-94	187	8	models	model	NOUN
arjefm-94	187	9	,	,	PUNCT
arjefm-94	187	10	give	give	VERB
arjefm-94	187	11	evidence	evidence	NOUN
arjefm-94	187	12	that	that	SCONJ
arjefm-94	187	13	the	the	DET
arjefm-94	187	14	egarch	egarch	NOUN
arjefm-94	187	15	(	(	PUNCT
arjefm-94	187	16	1,1	1,1	NUM
arjefm-94	187	17	)	)	PUNCT
arjefm-94	187	18	model	model	NOUN
arjefm-94	187	19	has	have	AUX
arjefm-94	187	20	the	the	DET
arjefm-94	187	21	best	good	ADJ
arjefm-94	187	22	predictive	predictive	ADJ
arjefm-94	187	23	capability	capability	NOUN
arjefm-94	187	24	.	.	PUNCT
arjefm-94	188	1	finally	finally	ADV
arjefm-94	188	2	we	we	PRON
arjefm-94	188	3	can	can	AUX
arjefm-94	188	4	say	say	VERB
arjefm-94	188	5	that	that	SCONJ
arjefm-94	188	6	the	the	DET
arjefm-94	188	7	forecasts	forecast	NOUN
arjefm-94	188	8	obtained	obtain	VERB
arjefm-94	188	9	from	from	ADP
arjefm-94	188	10	these	these	DET
arjefm-94	188	11	results	result	NOUN
arjefm-94	188	12	,	,	PUNCT
arjefm-94	188	13	show	show	VERB
arjefm-94	188	14	the	the	DET
arjefm-94	188	15	rapidity	rapidity	NOUN
arjefm-94	188	16	with	with	SCONJ
arjefm-94	188	17	they	they	PRON
arjefm-94	188	18	tend	tend	VERB
arjefm-94	188	19	to	to	ADP
arjefm-94	188	20	their	their	PRON
arjefm-94	188	21	unconditional	unconditional	ADJ
arjefm-94	188	22	mean	mean	NOUN
arjefm-94	188	23	,	,	PUNCT
arjefm-94	188	24	which	which	PRON
arjefm-94	188	25	indicates	indicate	VERB
arjefm-94	188	26	,	,	PUNCT
arjefm-94	188	27	that	that	SCONJ
arjefm-94	188	28	the	the	DET
arjefm-94	188	29	forecast	forecast	NOUN
arjefm-94	188	30	horizon	horizon	NOUN
arjefm-94	188	31	of	of	ADP
arjefm-94	188	32	these	these	DET
arjefm-94	188	33	models	model	NOUN
arjefm-94	188	34	is	be	AUX
arjefm-94	188	35	very	very	ADV
arjefm-94	188	36	short	short	ADJ
arjefm-94	188	37	,	,	PUNCT
arjefm-94	188	38	provides	provide	VERB
arjefm-94	188	39	immediate	immediate	ADJ
arjefm-94	188	40	predictions	prediction	NOUN
arjefm-94	188	41	(	(	PUNCT
arjefm-94	188	42	2	2	NUM
arjefm-94	188	43	-3	-3	PUNCT
arjefm-94	188	44	days	day	NOUN
arjefm-94	188	45	)	)	PUNCT
arjefm-94	188	46	before	before	ADP
arjefm-94	188	47	stabilizing	stabilize	VERB
arjefm-94	188	48	.	.	PUNCT
arjefm-94	189	1	references	reference	NOUN
arjefm-94	189	2	ali	ali	PROPN
arjefm-94	189	3	rafaqet	rafaqet	PROPN
arjefm-94	189	4	and	and	CCONJ
arjefm-94	189	5	muhammad	muhammad	PROPN
arjefm-94	189	6	afzal	afzal	PROPN
arjefm-94	189	7	(	(	PUNCT
arjefm-94	189	8	2012	2012	NUM
arjefm-94	189	9	)	)	PUNCT
arjefm-94	189	10	.	.	PUNCT
arjefm-94	190	1	impact	impact	NOUN
arjefm-94	190	2	of	of	ADP
arjefm-94	190	3	global	global	ADJ
arjefm-94	190	4	financial	financial	ADJ
arjefm-94	190	5	crisis	crisis	NOUN
arjefm-94	190	6	on	on	ADP
arjefm-94	190	7	stock	stock	NOUN
arjefm-94	190	8	markets	market	NOUN
arjefm-94	190	9	:	:	PUNCT
arjefm-94	190	10	evidence	evidence	NOUN
arjefm-94	190	11	from	from	ADP
arjefm-94	190	12	pakistan	pakistan	PROPN
arjefm-94	190	13	and	and	CCONJ
arjefm-94	190	14	india	india	PROPN
arjefm-94	190	15	.	.	PROPN
arjefm-94	190	16	journal	journal	PROPN
arjefm-94	190	17	of	of	ADP
arjefm-94	190	18	business	business	NOUN
arjefm-94	190	19	management	management	NOUN
arjefm-94	190	20	and	and	CCONJ
arjefm-94	190	21	economics	economics	NOUN
arjefm-94	190	22	vol	vol	NOUN
arjefm-94	190	23	.	.	PUNCT
arjefm-94	190	24	3(7	3(7	NUM
arjefm-94	190	25	)	)	PUNCT
arjefm-94	190	26	.	.	PUNCT
arjefm-94	191	1	pp	pp	ADJ
arjefm-94	191	2	.	.	PUNCT
arjefm-94	192	1	275282	275282	NUM
arjefm-94	192	2	,	,	PUNCT
arjefm-94	192	3	june	june	PROPN
arjefm-94	192	4	.	.	PUNCT
arjefm-94	193	1	balaban	balaban	PROPN
arjefm-94	193	2	,	,	PUNCT
arjefm-94	193	3	ercan	ercan	PROPN
arjefm-94	193	4	;	;	PUNCT
arjefm-94	193	5	bayar	bayar	PROPN
arjefm-94	193	6	,	,	PUNCT
arjefm-94	193	7	asli	asli	PROPN
arjefm-94	193	8	and	and	CCONJ
arjefm-94	193	9	faff	faff	PROPN
arjefm-94	193	10	,	,	PUNCT
arjefm-94	193	11	robert	robert	PROPN
arjefm-94	193	12	w.	w.	PROPN
arjefm-94	193	13	,	,	PUNCT
arjefm-94	193	14	(	(	PUNCT
arjefm-94	193	15	2003	2003	NUM
arjefm-94	193	16	)	)	PUNCT
arjefm-94	193	17	.	.	PUNCT
arjefm-94	194	1	forecasting	forecast	VERB
arjefm-94	194	2	stock	stock	NOUN
arjefm-94	194	3	market	market	NOUN
arjefm-94	194	4	volatility	volatility	NOUN
arjefm-94	194	5	:	:	PUNCT
arjefm-94	194	6	evidence	evidence	NOUN
arjefm-94	194	7	from	from	ADP
arjefm-94	194	8	fourteen	fourteen	NUM
arjefm-94	194	9	countries	country	NOUN
arjefm-94	194	10	.	.	PUNCT
arjefm-94	195	1	u	u	PROPN
arjefm-94	195	2	of	of	ADP
arjefm-94	195	3	edinburgh	edinburgh	PROPN
arjefm-94	195	4	,	,	PUNCT
arjefm-94	195	5	center	center	NOUN
arjefm-94	195	6	for	for	ADP
arjefm-94	195	7	financial	financial	ADJ
arjefm-94	195	8	markets	market	NOUN
arjefm-94	195	9	research	research	VERB
arjefm-94	195	10	working	working	NOUN
arjefm-94	195	11	paper	paper	NOUN
arjefm-94	195	12	no	no	INTJ
arjefm-94	195	13	.	.	PROPN
arjefm-94	195	14	02.04	02.04	NUM
arjefm-94	195	15	;	;	PUNCT
arjefm-94	195	16	efma	efma	PROPN
arjefm-94	195	17	helsinki	helsinki	PROPN
arjefm-94	195	18	meetings	meeting	NOUN
arjefm-94	195	19	.	.	PUNCT
arjefm-94	196	1	retrieved	retrieve	VERB
arjefm-94	196	2	from	from	ADP
arjefm-94	196	3	ssrn	ssrn	NOUN
arjefm-94	196	4	:	:	PUNCT
arjefm-94	196	5	http://ssrn.com/abstract=339520	http://ssrn.com/abstract=339520	PROPN
arjefm-94	196	6	or	or	CCONJ
arjefm-94	196	7	doi	doi	NOUN
arjefm-94	196	8	:	:	PUNCT
arjefm-94	196	9	10.2139	10.2139	NUM
arjefm-94	196	10	/	/	SYM
arjefm-94	196	11	ssrn.339520	ssrn.339520	PROPN
arjefm-94	196	12	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	196	13	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-94	196	14	american	american	PROPN
arjefm-94	196	15	research	research	PROPN
arjefm-94	196	16	journal	journal	PROPN
arjefm-94	196	17	of	of	ADP
arjefm-94	196	18	economics	economic	NOUN
arjefm-94	196	19	,	,	PUNCT
arjefm-94	196	20	finance	finance	NOUN
arjefm-94	196	21	and	and	CCONJ
arjefm-94	196	22	management	management	NOUN
arjefm-94	196	23	volume	volume	NOUN
arjefm-94	196	24	11	11	NUM
arjefm-94	196	25	issue	issue	NOUN
arjefm-94	196	26	4	4	NUM
arjefm-94	196	27	,	,	PUNCT
arjefm-94	196	28	october	october	PROPN
arjefm-94	196	29	-	-	PUNCT
arjefm-94	196	30	december	december	PROPN
arjefm-94	196	31	2023	2023	NUM
arjefm-94	196	32	issn	issn	NOUN
arjefm-94	196	33	:	:	PUNCT
arjefm-94	196	34	2836	2836	NUM
arjefm-94	196	35	-	-	SYM
arjefm-94	196	36	9416	9416	NUM
arjefm-94	196	37	impact	impact	NOUN
arjefm-94	196	38	factor	factor	NOUN
arjefm-94	196	39	:	:	PUNCT
arjefm-94	196	40	5.57	5.57	NUM
arjefm-94	196	41	journal	journal	NOUN
arjefm-94	196	42	homepage	homepage	NOUN
arjefm-94	196	43	:	:	PUNCT
arjefm-94	196	44	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	196	45	,	,	PUNCT
arjefm-94	196	46	email	email	NOUN
arjefm-94	196	47	:	:	PUNCT
arjefm-94	196	48	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-94	196	49	official	official	ADJ
arjefm-94	196	50	journal	journal	PROPN
arjefm-94	196	51	of	of	ADP
arjefm-94	196	52	america	america	PROPN
arjefm-94	196	53	serial	serial	PROPN
arjefm-94	196	54	publication	publication	NOUN
arjefm-94	196	55	american	american	PROPN
arjefm-94	196	56	research	research	PROPN
arjefm-94	196	57	journal	journal	PROPN
arjefm-94	196	58	of	of	ADP
arjefm-94	196	59	economics	economic	NOUN
arjefm-94	196	60	,	,	PUNCT
arjefm-94	196	61	finance	finance	NOUN
arjefm-94	196	62	and	and	CCONJ
arjefm-94	196	63	management	management	NOUN
arjefm-94	196	64	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-94	196	65	,	,	PUNCT
arjefm-94	196	66	email	email	NOUN
arjefm-94	196	67	:	:	PUNCT
arjefm-94	197	1	contact@americaserial.com	contact@americaserial.com	X
arjefm-94	197	2	75	75	NUM
arjefm-94	198	1	|	|	ADV
arjefm-94	198	2	p	p	X
arjefm-94	198	3	a	a	DET
arjefm-94	198	4	g	g	NOUN
arjefm-94	198	5	e	e	NOUN
arjefm-94	198	6	bollerslev	bollerslev	NOUN
arjefm-94	198	7	,	,	PUNCT
arjefm-94	198	8	chou	chou	NOUN
arjefm-94	198	9	and	and	CCONJ
arjefm-94	198	10	kroner	kroner	PROPN
arjefm-94	198	11	(	(	PUNCT
arjefm-94	198	12	1992).arch	1992).arch	NUM
arjefm-94	198	13	modeling	modeling	NOUN
arjefm-94	198	14	in	in	ADP
arjefm-94	198	15	finance	finance	NOUN
arjefm-94	198	16	:	:	PUNCT
arjefm-94	198	17	a	a	DET
arjefm-94	198	18	review	review	NOUN
arjefm-94	198	19	of	of	ADP
arjefm-94	198	20	the	the	DET
arjefm-94	198	21	theory	theory	NOUN
arjefm-94	198	22	and	and	CCONJ
arjefm-94	198	23	empirical	empirical	ADJ
arjefm-94	198	24	evidence	evidence	NOUN
arjefm-94	198	25	.	.	PUNCT
arjefm-94	199	1	journal	journal	NOUN
arjefm-94	199	2	of	of	ADP
arjefm-94	199	3	econometrics	econometric	NOUN
arjefm-94	199	4	,	,	PUNCT
arjefm-94	199	5	volume	volume	NOUN
arjefm-94	199	6	52	52	NUM
arjefm-94	199	7	,	,	PUNCT
arjefm-94	199	8	issues	issue	NOUN
arjefm-94	199	9	1	1	NUM
arjefm-94	199	10	-	-	SYM
arjefm-94	199	11	2	2	NUM
arjefm-94	199	12	,	,	PUNCT
arjefm-94	199	13	pages	page	NOUN
arjefm-94	199	14	5	5	NUM
arjefm-94	199	15	-	-	SYM
arjefm-94	199	16	59	59	NUM
arjefm-94	199	17	.	.	PUNCT
arjefm-94	200	1	ebeid	ebeid	PROPN
arjefm-94	200	2	,	,	PUNCT
arjefm-94	200	3	said	say	VERB
arjefm-94	200	4	t.	t.	NOUN
arjefm-94	200	5	and	and	CCONJ
arjefm-94	200	6	bedeir	bedeir	PROPN
arjefm-94	200	7	,	,	PUNCT
arjefm-94	200	8	gamal	gamal	PROPN
arjefm-94	200	9	b.	b.	PROPN
arjefm-94	201	1	a	a	PRON
arjefm-94	201	2	(	(	PUNCT
arjefm-94	201	3	2004	2004	NUM
arjefm-94	201	4	)	)	PUNCT
arjefm-94	201	5	.	.	PUNCT
arjefm-94	202	1	volatility	volatility	NOUN
arjefm-94	202	2	modeling	modeling	NOUN
arjefm-94	202	3	and	and	CCONJ
arjefm-94	202	4	forecasting	forecasting	NOUN
arjefm-94	202	5	of	of	ADP
arjefm-94	202	6	the	the	DET
arjefm-94	202	7	egyptian	egyptian	ADJ
arjefm-94	202	8	stock	stock	NOUN
arjefm-94	202	9	market	market	NOUN
arjefm-94	202	10	index	index	NOUN
arjefm-94	202	11	using	use	VERB
arjefm-94	202	12	arch	arch	ADJ
arjefm-94	202	13	models	model	NOUN
arjefm-94	202	14	.	.	PUNCT
arjefm-94	203	1	retrieved	retrieve	VERB
arjefm-94	203	2	from	from	ADP
arjefm-94	203	3	ssrn	ssrn	NOUN
arjefm-94	203	4	:	:	PUNCT
arjefm-94	203	5	http://ssrn.com/abstract=631887	http://ssrn.com/abstract=631887	PROPN
arjefm-94	203	6	engle	engle	PROPN
arjefm-94	203	7	,	,	PUNCT
arjefm-94	203	8	robert	robert	PROPN
arjefm-94	203	9	f.	f.	PROPN
arjefm-94	203	10	(	(	PUNCT
arjefm-94	203	11	1982	1982	NUM
arjefm-94	203	12	)	)	PUNCT
arjefm-94	203	13	.	.	PUNCT
arjefm-94	204	1	autoregresive	autoregresive	PROPN
arjefm-94	204	2	coditional	coditional	ADJ
arjefm-94	204	3	heteroscedasticity	heteroscedasticity	NOUN
arjefm-94	204	4	with	with	ADP
arjefm-94	204	5	estimates	estimate	NOUN
arjefm-94	204	6	of	of	ADP
arjefm-94	204	7	the	the	DET
arjefm-94	204	8	variance	variance	NOUN
arjefm-94	204	9	of	of	ADP
arjefm-94	204	10	united	united	PROPN
arjefm-94	204	11	kingdominflation	kingdominflation	PROPN
arjefm-94	204	12	”	"	PUNCT
arjefm-94	204	13	,	,	PUNCT
arjefm-94	204	14	econometrica	econometrica	PROPN
arjefm-94	204	15	55	55	NUM
arjefm-94	204	16	,	,	PUNCT
arjefm-94	204	17	julio	julio	PROPN
arjefm-94	204	18	,	,	PUNCT
arjefm-94	204	19	pp	pp	PROPN
arjefm-94	204	20	.	.	PUNCT
arjefm-94	205	1	987	987	NUM
arjefm-94	205	2	-	-	SYM
arjefm-94	205	3	1007	1007	NUM
arjefm-94	205	4	.	.	PUNCT
arjefm-94	206	1	fama	fama	PROPN
arjefm-94	206	2	,	,	PUNCT
arjefm-94	206	3	eugene	eugene	NOUN
arjefm-94	206	4	(	(	PUNCT
arjefm-94	206	5	1965	1965	NUM
arjefm-94	206	6	)	)	PUNCT
arjefm-94	206	7	.	.	PUNCT
arjefm-94	207	1	the	the	DET
arjefm-94	207	2	behavior	behavior	NOUN
arjefm-94	207	3	of	of	ADP
arjefm-94	207	4	stock	stock	NOUN
arjefm-94	207	5	-	-	PUNCT
arjefm-94	207	6	market	market	NOUN
arjefm-94	207	7	prices	price	NOUN
arjefm-94	207	8	.	.	PUNCT
arjefm-94	208	1	the	the	DET
arjefm-94	208	2	journal	journal	NOUN
arjefm-94	208	3	of	of	ADP
arjefm-94	208	4	business	business	NOUN
arjefm-94	208	5	,	,	PUNCT
arjefm-94	208	6	vol	vol	NOUN
arjefm-94	208	7	.	.	PROPN
arjefm-94	208	8	38	38	NUM
arjefm-94	208	9	,	,	PUNCT
arjefm-94	208	10	no	no	INTJ
arjefm-94	208	11	.	.	NOUN
arjefm-94	209	1	1	1	X
arjefm-94	209	2	.	.	X
arjefm-94	210	1	pp	pp	ADJ
arjefm-94	210	2	.	.	PUNCT
arjefm-94	211	1	34	34	NUM
arjefm-94	211	2	-	-	SYM
arjefm-94	211	3	105	105	NUM
arjefm-94	211	4	.	.	PUNCT
arjefm-94	212	1	fama	fama	PROPN
arjefm-94	212	2	,	,	PUNCT
arjefm-94	212	3	eugene	eugene	NOUN
arjefm-94	212	4	(	(	PUNCT
arjefm-94	212	5	1970	1970	NUM
arjefm-94	212	6	)	)	PUNCT
arjefm-94	212	7	.	.	PUNCT
arjefm-94	213	1	efficient	efficient	ADJ
arjefm-94	213	2	capital	capital	NOUN
arjefm-94	213	3	markets	market	NOUN
arjefm-94	213	4	:	:	PUNCT
arjefm-94	213	5	a	a	DET
arjefm-94	213	6	review	review	NOUN
arjefm-94	213	7	of	of	ADP
arjefm-94	213	8	theory	theory	NOUN
arjefm-94	213	9	and	and	CCONJ
arjefm-94	213	10	empirical	empirical	ADJ
arjefm-94	213	11	work	work	NOUN
arjefm-94	213	12	.	.	PUNCT
arjefm-94	214	1	the	the	DET
arjefm-94	214	2	journal	journal	PROPN
arjefm-94	214	3	of	of	ADP
arjefm-94	214	4	finance	finance	NOUN
arjefm-94	214	5	,	,	PUNCT
arjefm-94	214	6	vol	vol	NOUN
arjefm-94	214	7	.	.	PROPN
arjefm-94	214	8	25	25	NUM
arjefm-94	214	9	,	,	PUNCT
arjefm-94	214	10	no	no	INTJ
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arjefm-94	215	1	2	2	X
arjefm-94	215	2	.	.	X
arjefm-94	215	3	pp	pp	ADJ
arjefm-94	215	4	.	.	PUNCT
arjefm-94	216	1	383	383	NUM
arjefm-94	216	2	-	-	SYM
arjefm-94	216	3	417	417	NUM
arjefm-94	216	4	.	.	PUNCT
arjefm-94	217	1	geng	geng	PROPN
arjefm-94	217	2	,	,	PUNCT
arjefm-94	217	3	jia	jia	PROPN
arjefm-94	217	4	(	(	PUNCT
arjefm-94	217	5	2006	2006	NUM
arjefm-94	217	6	)	)	PUNCT
arjefm-94	217	7	.	.	PUNCT
arjefm-94	218	1	volatility	volatility	NOUN
arjefm-94	218	2	analysis	analysis	NOUN
arjefm-94	218	3	for	for	ADP
arjefm-94	218	4	chinese	chinese	ADJ
arjefm-94	218	5	stock	stock	NOUN
arjefm-94	218	6	market	market	NOUN
arjefm-94	218	7	using	use	VERB
arjefm-94	218	8	garch	garch	NOUN
arjefm-94	218	9	model	model	NOUN
arjefm-94	218	10	.	.	PUNCT
arjefm-94	219	1	retrieved	retrieve	VERB
arjefm-94	219	2	from	from	ADP
arjefm-94	219	3	ssrn	ssrn	NOUN
arjefm-94	219	4	:	:	PUNCT
arjefm-94	219	5	http://ssrn.com/abstract=1020363	http://ssrn.com/abstract=1020363	PROPN
arjefm-94	219	6	hassan	hassan	PROPN
arjefm-94	219	7	m.	m.	PROPN
arjefm-94	219	8	kabir	kabir	PROPN
arjefm-94	219	9	,	,	PUNCT
arjefm-94	219	10	islam	islam	PROPN
arjefm-94	219	11	anisul	anisul	PROPN
arjefm-94	219	12	m.	m.	PROPN
arjefm-94	219	13	and	and	CCONJ
arjefm-94	219	14	abul	abul	PROPN
arjefm-94	219	15	basher	basher	PROPN
arjefm-94	219	16	syed	syed	PROPN
arjefm-94	219	17	(	(	PUNCT
arjefm-94	219	18	2000	2000	NUM
arjefm-94	219	19	)	)	PUNCT
arjefm-94	219	20	.	.	PUNCT
arjefm-94	220	1	market	market	NOUN
arjefm-94	220	2	efficiency	efficiency	NOUN
arjefm-94	220	3	,	,	PUNCT
arjefm-94	220	4	timevarying	timevarye	VERB
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arjefm-94	220	6	and	and	CCONJ
arjefm-94	220	7	equity	equity	NOUN
arjefm-94	220	8	returns	return	NOUN
arjefm-94	220	9	in	in	ADP
arjefm-94	220	10	bangladesh	bangladesh	NOUN
arjefm-94	220	11	stock	stock	NOUN
arjefm-94	220	12	market	market	NOUN
arjefm-94	220	13	.	.	PUNCT
arjefm-94	221	1	economics	economic	NOUN
arjefm-94	221	2	working	working	PROPN
arjefm-94	221	3	paper	paper	PROPN
arjefm-94	221	4	archive	archive	NOUN
arjefm-94	221	5	econwpa	econwpa	PROPN
arjefm-94	221	6	,	,	PUNCT
arjefm-94	221	7	from	from	ADP
arjefm-94	221	8	http://ideas.repec.org/p/wpa/wuwpfi/0310015.html	http://ideas.repec.org/p/wpa/wuwpfi/0310015.html	PUNCT
arjefm-94	221	9	johnston	johnston	PROPN
arjefm-94	221	10	,	,	PUNCT
arjefm-94	221	11	jack	jack	PROPN
arjefm-94	221	12	and	and	CCONJ
arjefm-94	221	13	dinardo	dinardo	PROPN
arjefm-94	221	14	john	john	PROPN
arjefm-94	221	15	(	(	PUNCT
arjefm-94	221	16	1997	1997	NUM
arjefm-94	221	17	)	)	PUNCT
arjefm-94	221	18	.	.	PUNCT
arjefm-94	222	1	econometric	econometric	ADJ
arjefm-94	222	2	methods	method	NOUN
arjefm-94	222	3	,	,	PUNCT
arjefm-94	222	4	ed	ed	NOUN
arjefm-94	222	5	.	.	PUNCT
arjefm-94	223	1	mc	mc	PROPN
arjefm-94	223	2	graw	graw	PROPN
arjefm-94	223	3	hill	hill	PROPN
arjefm-94	223	4	,	,	PUNCT
arjefm-94	223	5	usa	usa	PROPN
arjefm-94	223	6	,	,	PUNCT
arjefm-94	223	7	2ª	2ª	PROPN
arjefm-94	223	8	ed	ed	NOUN
arjefm-94	223	9	.	.	PUNCT
arjefm-94	224	1	lamoureux	lamoureux	PROPN
arjefm-94	224	2	,	,	PUNCT
arjefm-94	224	3	christopher	christopher	PROPN
arjefm-94	224	4	g.	g.	PROPN
arjefm-94	224	5	and	and	CCONJ
arjefm-94	224	6	lastrapes	lastrapes	PROPN
arjefm-94	224	7	william	william	PROPN
arjefm-94	224	8	d	d	PROPN
arjefm-94	224	9	(	(	PUNCT
arjefm-94	224	10	1990	1990	NUM
arjefm-94	224	11	)	)	PUNCT
arjefm-94	224	12	.	.	PUNCT
arjefm-94	225	1	heteroskedasticity	heteroskedasticity	NOUN
arjefm-94	225	2	in	in	ADP
arjefm-94	225	3	stock	stock	NOUN
arjefm-94	225	4	return	return	NOUN
arjefm-94	225	5	data	datum	NOUN
arjefm-94	225	6	:	:	PUNCT
arjefm-94	225	7	volume	volume	NOUN
arjefm-94	225	8	versus	versus	ADP
arjefm-94	225	9	garch	garch	NOUN
arjefm-94	225	10	effects	effect	NOUN
arjefm-94	225	11	.	.	PUNCT
arjefm-94	226	1	the	the	DET
arjefm-94	226	2	journal	journal	NOUN
arjefm-94	226	3	of	of	ADP
arjefm-94	226	4	finance	finance	NOUN
arjefm-94	226	5	,	,	PUNCT
arjefm-94	226	6	vol	vol	NOUN
arjefm-94	226	7	.	.	PROPN
arjefm-94	226	8	45	45	NUM
arjefm-94	226	9	,	,	PUNCT
arjefm-94	226	10	no	no	INTJ
arjefm-94	226	11	.	.	NOUN
arjefm-94	226	12	1	1	X
arjefm-94	226	13	.	.	X
arjefm-94	227	1	pp	pp	ADJ
arjefm-94	227	2	.	.	PUNCT
arjefm-94	228	1	221	221	NUM
arjefm-94	228	2	-	-	SYM
arjefm-94	228	3	229	229	NUM
arjefm-94	228	4	.	.	PUNCT
arjefm-94	229	1	lópez	lópez	PROPN
arjefm-94	229	2	,	,	PUNCT
arjefm-94	229	3	herrera	herrera	PROPN
arjefm-94	229	4	francisco	francisco	PROPN
arjefm-94	229	5	(	(	PUNCT
arjefm-94	229	6	2004	2004	NUM
arjefm-94	229	7	)	)	PUNCT
arjefm-94	229	8	.	.	PUNCT
arjefm-94	230	1	modelado	modelado	AUX
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arjefm-94	230	3	la	la	X
arjefm-94	230	4	volatilidad	volatilidad	PROPN
arjefm-94	230	5	y	y	PROPN
arjefm-94	230	6	pronóstico	pronóstico	PROPN
arjefm-94	230	7	del	del	PROPN
arjefm-94	230	8	índice	índice	PROPN
arjefm-94	230	9	de	de	ADP
arjefm-94	230	10	precios	precios	PROPN
arjefm-94	230	11	y	y	PROPN
arjefm-94	230	12	cotizaciones	cotizacione	NOUN
arjefm-94	230	13	de	de	X
arjefm-94	230	14	la	la	X
arjefm-94	230	15	bolsa	bolsa	PROPN
arjefm-94	230	16	mexicana	mexicana	PROPN
arjefm-94	230	17	de	de	PROPN
arjefm-94	230	18	valores	valores	PROPN
arjefm-94	230	19	.	.	PUNCT
arjefm-94	231	1	contaduría	contaduría	VERB
arjefm-94	231	2	y	y	PROPN
arjefm-94	231	3	administración	administración	PROPN
arjefm-94	232	1	no	no	INTJ
arjefm-94	232	2	.	.	PROPN
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arjefm-94	232	4	,	,	PUNCT
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arjefm-94	232	6	2004	2004	NUM
arjefm-94	232	7	.	.	PUNCT
arjefm-94	233	1	retrieved	retrieve	VERB
arjefm-94	233	2	from	from	ADP
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arjefm-94	233	5	,	,	PUNCT
arjefm-94	233	6	herrera	herrera	PROPN
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arjefm-94	233	8	(	(	PUNCT
arjefm-94	233	9	1998	1998	NUM
arjefm-94	233	10	)	)	PUNCT
arjefm-94	233	11	.	.	PUNCT
arjefm-94	234	1	análisis	análisis	PROPN
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arjefm-94	234	7	accionario	accionario	PROPN
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arjefm-94	234	9	.	.	PUNCT
arjefm-94	235	1	contaduría	contaduría	VERB
arjefm-94	235	2	y	y	PROPN
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arjefm-94	236	1	no	no	INTJ
arjefm-94	236	2	.	.	PROPN
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arjefm-94	236	4	.	.	PUNCT
arjefm-94	237	1	retrieved	retrieve	VERB
arjefm-94	237	2	from	from	ADP
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arjefm-94	237	7	y	y	PROPN
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arjefm-94	237	9	,	,	PUNCT
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arjefm-94	237	11	(	(	PUNCT
arjefm-94	237	12	2006	2006	NUM
arjefm-94	237	13	)	)	PUNCT
arjefm-94	237	14	.	.	PUNCT
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arjefm-94	238	13	.	.	PUNCT
arjefm-94	239	1	análisis	análisis	PROPN
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arjefm-94	240	4	,	,	PUNCT
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arjefm-94	241	1	xxi	xxi	PROPN
arjefm-94	241	2	.	.	PUNCT
arjefm-94	242	1	retrieved	retrieve	VERB
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arjefm-94	242	27	-	-	SYM
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arjefm-94	242	57	,	,	PUNCT
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arjefm-94	242	59	:	:	PUNCT
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arjefm-94	244	1	|	|	ADV
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arjefm-94	244	12	)	)	PUNCT
arjefm-94	244	13	.	.	PUNCT
arjefm-94	245	1	análisis	análisis	VERB
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arjefm-94	246	3	.	.	PUNCT
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arjefm-94	247	9	2001	2001	NUM
arjefm-94	247	10	)	)	PUNCT
arjefm-94	247	11	.	.	PUNCT
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arjefm-94	251	10	saavedra	saavedra	PROPN
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arjefm-94	251	14	2002	2002	NUM
arjefm-94	251	15	)	)	PUNCT
arjefm-94	251	16	.	.	PUNCT
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arjefm-94	253	7	.	.	PUNCT
arjefm-94	254	1	volumen	volumen	PROPN
arjefm-94	254	2	1	1	NUM
arjefm-94	254	3	,	,	PUNCT
arjefm-94	254	4	número	número	NOUN
arjefm-94	254	5	1	1	NUM
arjefm-94	254	6	.	.	PUNCT
arjefm-94	255	1	pp	pp	ADJ
arjefm-94	255	2	.	.	PUNCT
arjefm-94	256	1	39	39	NUM
arjefm-94	256	2	-	-	SYM
arjefm-94	256	3	58	58	NUM
arjefm-94	256	4	worthington	worthington	PROPN
arjefm-94	256	5	,	,	PUNCT
arjefm-94	256	6	andrew	andrew	PROPN
arjefm-94	256	7	and	and	CCONJ
arjefm-94	256	8	higgs	higgs	PROPN
arjefm-94	256	9	,	,	PUNCT
arjefm-94	256	10	helen	helen	PROPN
arjefm-94	256	11	(	(	PUNCT
arjefm-94	256	12	2004	2004	NUM
arjefm-94	256	13	)	)	PUNCT
arjefm-94	256	14	random	random	ADJ
arjefm-94	256	15	walks	walk	NOUN
arjefm-94	256	16	and	and	CCONJ
arjefm-94	256	17	market	market	NOUN
arjefm-94	256	18	efficiency	efficiency	NOUN
arjefm-94	256	19	in	in	ADP
arjefm-94	256	20	european	european	ADJ
arjefm-94	256	21	equity	equity	NOUN
arjefm-94	256	22	markets	market	NOUN
arjefm-94	256	23	.	.	PUNCT
arjefm-94	257	1	global	global	ADJ
arjefm-94	257	2	journal	journal	PROPN
arjefm-94	257	3	of	of	ADP
arjefm-94	257	4	finance	finance	NOUN
arjefm-94	257	5	and	and	CCONJ
arjefm-94	257	6	economics	economic	NOUN
arjefm-94	257	7	1(1):pp	1(1):pp	NUM
arjefm-94	257	8	.	.	PUNCT
arjefm-94	258	1	59	59	NUM
arjefm-94	258	2	-	-	SYM
arjefm-94	258	3	78	78	NUM
arjefm-94	258	4	.	.	PUNCT
arjefm-94	259	1	retrieved	retrieve	VERB
arjefm-94	259	2	from	from	ADP
arjefm-94	259	3	:	:	PUNCT
arjefm-94	259	4	http://eprints.qut.edu.au/2319/1/2319.pdf	http://eprints.qut.edu.au/2319/1/2319.pdf	PROPN
arjefm-94	259	5	worthington	worthington	PROPN
arjefm-94	259	6	,	,	PUNCT
arjefm-94	259	7	a.	a.	PROPN
arjefm-94	259	8	c.	c.	PROPN
arjefm-94	259	9	,	,	PUNCT
arjefm-94	259	10	&	&	CCONJ
arjefm-94	259	11	higgs	higgs	PROPN
arjefm-94	259	12	,	,	PUNCT
arjefm-94	259	13	h.	h.	PROPN
arjefm-94	259	14	(	(	PUNCT
arjefm-94	259	15	2006	2006	NUM
arjefm-94	259	16	)	)	PUNCT
arjefm-94	259	17	.	.	PUNCT
arjefm-94	260	1	evaluating	evaluate	VERB
arjefm-94	260	2	financial	financial	ADJ
arjefm-94	260	3	development	development	NOUN
arjefm-94	260	4	in	in	ADP
arjefm-94	260	5	emerging	emerge	VERB
arjefm-94	260	6	capital	capital	NOUN
arjefm-94	260	7	markets	market	NOUN
arjefm-94	260	8	with	with	ADP
arjefm-94	260	9	efficiency	efficiency	NOUN
arjefm-94	260	10	benchmarks	benchmark	NOUN
arjefm-94	260	11	.	.	PUNCT
arjefm-94	261	1	journal	journal	NOUN
arjefm-94	261	2	of	of	ADP
arjefm-94	261	3	economic	economic	ADJ
arjefm-94	261	4	development	development	NOUN
arjefm-94	261	5	,	,	PUNCT
arjefm-94	261	6	vol.31	vol.31	PROPN
arjefm-94	261	7	,	,	PUNCT
arjefm-94	261	8	no.1	no.1	NUM
arjefm-94	261	9	,	,	PUNCT
arjefm-94	261	10	pp.1	pp.1	NOUN
arjefm-94	261	11	-	-	PUNCT
arjefm-94	261	12	27	27	NUM
arjefm-94	261	13	.	.	PUNCT
arjefm-94	262	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-94	262	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X