id	sid	tid	token	lemma	pos
asfbr-5	1	1	contents	content	NOUN
asfbr-5	1	2	asian	asian	ADJ
asfbr-5	1	3	finance	finance	PROPN
asfbr-5	1	4	&	&	CCONJ
asfbr-5	1	5	banking	banking	PROPN
asfbr-5	1	6	review	review	PROPN
asfbr-5	1	7	vol	vol	NOUN
asfbr-5	1	8	.	.	PROPN
asfbr-5	2	1	1	1	NUM
asfbr-5	2	2	,	,	PUNCT
asfbr-5	2	3	no	no	INTJ
asfbr-5	2	4	.	.	NOUN
asfbr-5	2	5	1	1	NUM
asfbr-5	2	6	;	;	PUNCT
asfbr-5	2	7	2017	2017	NUM
asfbr-5	2	8	published	publish	VERB
asfbr-5	2	9	by	by	ADP
asfbr-5	2	10	centre	centre	NOUN
asfbr-5	2	11	for	for	ADP
asfbr-5	2	12	research	research	NOUN
asfbr-5	2	13	on	on	ADP
asfbr-5	2	14	islamic	islamic	ADJ
asfbr-5	2	15	banking	banking	PROPN
asfbr-5	2	16	&	&	CCONJ
asfbr-5	2	17	finance	finance	PROPN
asfbr-5	2	18	and	and	CCONJ
asfbr-5	2	19	business	business	NOUN
asfbr-5	2	20	macroeconomic	macroeconomic	ADJ
asfbr-5	2	21	aggregates	aggregate	NOUN
asfbr-5	2	22	and	and	CCONJ
asfbr-5	2	23	retention	retention	NOUN
asfbr-5	2	24	ratio	ratio	NOUN
asfbr-5	2	25	of	of	ADP
asfbr-5	2	26	quoted	quote	VERB
asfbr-5	2	27	firms	firm	NOUN
asfbr-5	2	28	in	in	ADP
asfbr-5	2	29	nigeria	nigeria	PROPN
asfbr-5	2	30	henry	henry	PROPN
asfbr-5	2	31	waleru	waleru	PROPN
asfbr-5	2	32	akani	akani	PROPN
asfbr-5	2	33	and	and	CCONJ
asfbr-5	2	34	yellowe	yellowe	NOUN
asfbr-5	2	35	sweneme	sweneme	NOUN
asfbr-5	2	36	macroeconomic	macroeconomic	ADJ
asfbr-5	2	37	aggregates	aggregate	NOUN
asfbr-5	2	38	and	and	CCONJ
asfbr-5	2	39	retention	retention	NOUN
asfbr-5	2	40	ratio	ratio	NOUN
asfbr-5	2	41	of	of	ADP
asfbr-5	2	42	quoted	quote	VERB
asfbr-5	2	43	firms	firm	NOUN
asfbr-5	2	44	in	in	ADP
asfbr-5	2	45	nigeria	nigeria	PROPN
asfbr-5	2	46	henry	henry	PROPN
asfbr-5	2	47	waleru	waleru	PROPN
asfbr-5	2	48	akani1	akani1	PROPN
asfbr-5	2	49	yellowe	yellowe	PROPN
asfbr-5	2	50	sweneme1	sweneme1	PROPN
asfbr-5	3	1	1department	1department	NUM
asfbr-5	3	2	of	of	ADP
asfbr-5	3	3	banking	banking	NOUN
asfbr-5	3	4	and	and	CCONJ
asfbr-5	3	5	finance	finance	NOUN
asfbr-5	3	6	,	,	PUNCT
asfbr-5	3	7	rivers	river	NOUN
asfbr-5	3	8	state	state	PROPN
asfbr-5	3	9	university	university	PROPN
asfbr-5	3	10	,	,	PUNCT
asfbr-5	3	11	nkpolu	nkpolu	PROPN
asfbr-5	3	12	port	port	PROPN
asfbr-5	3	13	harcourt	harcourt	PROPN
asfbr-5	3	14	,	,	PUNCT
asfbr-5	3	15	rivers	river	NOUN
asfbr-5	3	16	state	state	PROPN
asfbr-5	3	17	,	,	PUNCT
asfbr-5	3	18	nigeria	nigeria	PROPN
asfbr-5	3	19	correspondence	correspondence	NOUN
asfbr-5	3	20	:	:	PUNCT
asfbr-5	3	21	henry	henry	PROPN
asfbr-5	3	22	waleru	waleru	PROPN
asfbr-5	3	23	akani	akani	PROPN
asfbr-5	3	24	,	,	PUNCT
asfbr-5	3	25	department	department	NOUN
asfbr-5	3	26	of	of	ADP
asfbr-5	3	27	banking	banking	NOUN
asfbr-5	3	28	and	and	CCONJ
asfbr-5	3	29	finance	finance	NOUN
asfbr-5	3	30	,	,	PUNCT
asfbr-5	3	31	rivers	river	NOUN
asfbr-5	3	32	state	state	PROPN
asfbr-5	3	33	university	university	PROPN
asfbr-5	3	34	,	,	PUNCT
asfbr-5	3	35	nkpolu	nkpolu	PROPN
asfbr-5	3	36	port	port	PROPN
asfbr-5	3	37	harcourt	harcourt	PROPN
asfbr-5	3	38	,	,	PUNCT
asfbr-5	3	39	rivers	river	NOUN
asfbr-5	3	40	state	state	PROPN
asfbr-5	3	41	,	,	PUNCT
asfbr-5	3	42	nigeria	nigeria	PROPN
asfbr-5	3	43	,	,	PUNCT
asfbr-5	3	44	email	email	NOUN
asfbr-5	3	45	:	:	PUNCT
asfbr-5	3	46	henryakani@yahoo.com	henryakani@yahoo.com	X
asfbr-5	3	47	received	receive	VERB
asfbr-5	3	48	:	:	PUNCT
asfbr-5	3	49	october	october	PROPN
asfbr-5	3	50	14	14	NUM
asfbr-5	3	51	,	,	PUNCT
asfbr-5	3	52	2017	2017	NUM
asfbr-5	3	53	,	,	PUNCT
asfbr-5	3	54	accepted	accept	VERB
asfbr-5	3	55	:	:	PUNCT
asfbr-5	3	56	october	october	PROPN
asfbr-5	3	57	19	19	NUM
asfbr-5	3	58	,	,	PUNCT
asfbr-5	3	59	2017	2017	NUM
asfbr-5	3	60	,	,	PUNCT
asfbr-5	3	61	online	online	ADV
asfbr-5	3	62	published	publish	VERB
asfbr-5	3	63	:	:	PUNCT
asfbr-5	3	64	october	october	PROPN
asfbr-5	3	65	26	26	NUM
asfbr-5	3	66	,	,	PUNCT
asfbr-5	3	67	2017	2017	NUM
asfbr-5	3	68	abstract	abstract	ADV
asfbr-5	3	69	this	this	DET
asfbr-5	3	70	study	study	NOUN
asfbr-5	3	71	examined	examine	VERB
asfbr-5	3	72	the	the	DET
asfbr-5	3	73	effects	effect	NOUN
asfbr-5	3	74	of	of	ADP
asfbr-5	3	75	macroeconomic	macroeconomic	ADJ
asfbr-5	3	76	aggregate	aggregate	NOUN
asfbr-5	3	77	on	on	ADP
asfbr-5	3	78	retention	retention	NOUN
asfbr-5	3	79	ratio	ratio	NOUN
asfbr-5	3	80	of	of	ADP
asfbr-5	3	81	selected	select	VERB
asfbr-5	3	82	quoted	quote	VERB
asfbr-5	3	83	manufacturing	manufacturing	NOUN
asfbr-5	3	84	firms	firm	NOUN
asfbr-5	3	85	in	in	ADP
asfbr-5	3	86	nigeria	nigeria	PROPN
asfbr-5	3	87	for	for	ADP
asfbr-5	3	88	the	the	DET
asfbr-5	3	89	period	period	NOUN
asfbr-5	3	90	1981	1981	NUM
asfbr-5	3	91	to	to	ADP
asfbr-5	3	92	2014	2014	NUM
asfbr-5	3	93	.	.	PUNCT
asfbr-5	4	1	the	the	DET
asfbr-5	4	2	study	study	NOUN
asfbr-5	4	3	used	use	VERB
asfbr-5	4	4	secondary	secondary	ADJ
asfbr-5	4	5	data	datum	NOUN
asfbr-5	4	6	.	.	PUNCT
asfbr-5	5	1	the	the	DET
asfbr-5	5	2	technique	technique	NOUN
asfbr-5	5	3	adopted	adopt	VERB
asfbr-5	5	4	is	be	AUX
asfbr-5	5	5	the	the	DET
asfbr-5	5	6	ordinary	ordinary	ADJ
asfbr-5	5	7	least	least	ADJ
asfbr-5	5	8	squares	square	NOUN
asfbr-5	5	9	,	,	PUNCT
asfbr-5	5	10	error	error	NOUN
asfbr-5	5	11	correction	correction	NOUN
asfbr-5	5	12	mechanism	mechanism	NOUN
asfbr-5	5	13	and	and	CCONJ
asfbr-5	5	14	autoregressive	autoregressive	ADJ
asfbr-5	5	15	distributed	distribute	VERB
asfbr-5	5	16	lag	lag	NOUN
asfbr-5	5	17	(	(	PUNCT
asfbr-5	5	18	ardl	ardl	NOUN
asfbr-5	5	19	)	)	PUNCT
asfbr-5	5	20	bounds	bound	NOUN
asfbr-5	5	21	approach	approach	VERB
asfbr-5	5	22	to	to	ADP
asfbr-5	5	23	cointegration	cointegration	NOUN
asfbr-5	5	24	.	.	PUNCT
asfbr-5	6	1	the	the	DET
asfbr-5	6	2	dynamic	dynamic	ADJ
asfbr-5	6	3	short	short	ADJ
asfbr-5	6	4	-	-	PUNCT
asfbr-5	6	5	run	run	VERB
asfbr-5	6	6	estimate	estimate	NOUN
asfbr-5	6	7	revealed	reveal	VERB
asfbr-5	6	8	that	that	SCONJ
asfbr-5	6	9	interest	interest	NOUN
asfbr-5	6	10	rate	rate	NOUN
asfbr-5	6	11	exerts	exert	VERB
asfbr-5	6	12	a	a	DET
asfbr-5	6	13	negative	negative	ADJ
asfbr-5	6	14	influence	influence	NOUN
asfbr-5	6	15	on	on	ADP
asfbr-5	6	16	retention	retention	NOUN
asfbr-5	6	17	ratio	ratio	NOUN
asfbr-5	6	18	.	.	PUNCT
asfbr-5	7	1	the	the	DET
asfbr-5	7	2	study	study	NOUN
asfbr-5	7	3	also	also	ADV
asfbr-5	7	4	found	find	VERB
asfbr-5	7	5	that	that	SCONJ
asfbr-5	7	6	oil	oil	NOUN
asfbr-5	7	7	price	price	NOUN
asfbr-5	7	8	exerts	exert	VERB
asfbr-5	7	9	a	a	DET
asfbr-5	7	10	positive	positive	ADJ
asfbr-5	7	11	and	and	CCONJ
asfbr-5	7	12	significant	significant	ADJ
asfbr-5	7	13	impact	impact	NOUN
asfbr-5	7	14	on	on	ADP
asfbr-5	7	15	retention	retention	NOUN
asfbr-5	7	16	ratio	ratio	NOUN
asfbr-5	7	17	.	.	PUNCT
asfbr-5	8	1	further	far	ADV
asfbr-5	8	2	,	,	PUNCT
asfbr-5	8	3	it	it	PRON
asfbr-5	8	4	revealed	reveal	VERB
asfbr-5	8	5	that	that	SCONJ
asfbr-5	8	6	capital	capital	NOUN
asfbr-5	8	7	market	market	NOUN
asfbr-5	8	8	development	development	NOUN
asfbr-5	8	9	exerts	exert	VERB
asfbr-5	8	10	a	a	DET
asfbr-5	8	11	positive	positive	ADJ
asfbr-5	8	12	influence	influence	NOUN
asfbr-5	8	13	on	on	ADP
asfbr-5	8	14	retention	retention	NOUN
asfbr-5	8	15	ratio	ratio	NOUN
asfbr-5	8	16	,	,	PUNCT
asfbr-5	8	17	but	but	CCONJ
asfbr-5	8	18	financial	financial	ADJ
asfbr-5	8	19	sector	sector	NOUN
asfbr-5	8	20	's	's	PART
asfbr-5	8	21	development	development	NOUN
asfbr-5	8	22	showed	show	VERB
asfbr-5	8	23	a	a	DET
asfbr-5	8	24	positive	positive	ADJ
asfbr-5	8	25	relationship	relationship	NOUN
asfbr-5	8	26	with	with	ADP
asfbr-5	8	27	retention	retention	NOUN
asfbr-5	8	28	ratio	ratio	NOUN
asfbr-5	8	29	,	,	PUNCT
asfbr-5	8	30	inflation	inflation	NOUN
asfbr-5	8	31	rate	rate	NOUN
asfbr-5	8	32	appeared	appear	VERB
asfbr-5	8	33	with	with	ADP
asfbr-5	8	34	an	an	DET
asfbr-5	8	35	expected	expect	VERB
asfbr-5	8	36	negative	negative	ADJ
asfbr-5	8	37	sign	sign	NOUN
asfbr-5	8	38	.	.	PUNCT
asfbr-5	9	1	foreign	foreign	ADJ
asfbr-5	9	2	exchange	exchange	NOUN
asfbr-5	9	3	rate	rate	NOUN
asfbr-5	9	4	showed	show	VERB
asfbr-5	9	5	a	a	DET
asfbr-5	9	6	positive	positive	ADJ
asfbr-5	9	7	relationship	relationship	NOUN
asfbr-5	9	8	with	with	ADP
asfbr-5	9	9	retention	retention	NOUN
asfbr-5	9	10	ratio	ratio	NOUN
asfbr-5	9	11	;	;	PUNCT
asfbr-5	9	12	money	money	NOUN
asfbr-5	9	13	supply	supply	NOUN
asfbr-5	9	14	exhibited	exhibit	VERB
asfbr-5	9	15	a	a	DET
asfbr-5	9	16	positive	positive	ADJ
asfbr-5	9	17	influence	influence	NOUN
asfbr-5	9	18	on	on	ADP
asfbr-5	9	19	retention	retention	NOUN
asfbr-5	9	20	ratio	ratio	NOUN
asfbr-5	9	21	of	of	ADP
asfbr-5	9	22	quoted	quote	VERB
asfbr-5	9	23	firms	firm	NOUN
asfbr-5	9	24	in	in	ADP
asfbr-5	9	25	nigeria	nigeria	PROPN
asfbr-5	9	26	.	.	PUNCT
asfbr-5	10	1	the	the	DET
asfbr-5	10	2	error	error	NOUN
asfbr-5	10	3	correction	correction	NOUN
asfbr-5	10	4	coefficients	coefficient	NOUN
asfbr-5	10	5	were	be	AUX
asfbr-5	10	6	significant	significant	ADJ
asfbr-5	10	7	with	with	ADP
asfbr-5	10	8	the	the	DET
asfbr-5	10	9	expected	expect	VERB
asfbr-5	10	10	sign	sign	NOUN
asfbr-5	10	11	.	.	PUNCT
asfbr-5	11	1	a	a	DET
asfbr-5	11	2	long	long	ADJ
asfbr-5	11	3	run	run	NOUN
asfbr-5	11	4	relationship	relationship	NOUN
asfbr-5	11	5	among	among	ADP
asfbr-5	11	6	the	the	DET
asfbr-5	11	7	variables	variable	NOUN
asfbr-5	11	8	was	be	AUX
asfbr-5	11	9	established	establish	VERB
asfbr-5	11	10	.	.	PUNCT
asfbr-5	12	1	thus	thus	ADV
asfbr-5	12	2	,	,	PUNCT
asfbr-5	12	3	the	the	DET
asfbr-5	12	4	study	study	NOUN
asfbr-5	12	5	concludes	conclude	VERB
asfbr-5	12	6	that	that	SCONJ
asfbr-5	12	7	macroeconomic	macroeconomic	ADJ
asfbr-5	12	8	variables	variable	NOUN
asfbr-5	12	9	have	have	VERB
asfbr-5	12	10	a	a	DET
asfbr-5	12	11	significant	significant	ADJ
asfbr-5	12	12	influence	influence	NOUN
asfbr-5	12	13	on	on	ADP
asfbr-5	12	14	dividend	dividend	NOUN
asfbr-5	12	15	policy	policy	NOUN
asfbr-5	12	16	.	.	PUNCT
asfbr-5	13	1	we	we	PRON
asfbr-5	13	2	recommend	recommend	VERB
asfbr-5	13	3	the	the	DET
asfbr-5	13	4	need	need	NOUN
asfbr-5	13	5	for	for	SCONJ
asfbr-5	13	6	firms	firm	NOUN
asfbr-5	13	7	to	to	PART
asfbr-5	13	8	consider	consider	VERB
asfbr-5	13	9	the	the	DET
asfbr-5	13	10	operating	operate	VERB
asfbr-5	13	11	macroeconomic	macroeconomic	ADJ
asfbr-5	13	12	framework	framework	NOUN
asfbr-5	13	13	in	in	ADP
asfbr-5	13	14	formulating	formulate	VERB
asfbr-5	13	15	dividend	dividend	NOUN
asfbr-5	13	16	policy	policy	NOUN
asfbr-5	13	17	.	.	PUNCT
asfbr-5	14	1	keywords	keyword	NOUN
asfbr-5	14	2	:	:	PUNCT
asfbr-5	14	3	macroeconomic	macroeconomic	ADJ
asfbr-5	14	4	variables	variable	NOUN
asfbr-5	14	5	,	,	PUNCT
asfbr-5	14	6	retention	retention	NOUN
asfbr-5	14	7	ratio	ratio	NOUN
asfbr-5	14	8	,	,	PUNCT
asfbr-5	14	9	macro	macro	NOUN
asfbr-5	14	10	.	.	NOUN
asfbr-5	14	11	1	1	X
asfbr-5	14	12	.	.	X
asfbr-5	14	13	introduction	introduction	NOUN
asfbr-5	14	14	dividend	dividend	NOUN
asfbr-5	14	15	policy	policy	NOUN
asfbr-5	14	16	refers	refer	VERB
asfbr-5	14	17	to	to	ADP
asfbr-5	14	18	the	the	DET
asfbr-5	14	19	decision	decision	NOUN
asfbr-5	14	20	of	of	ADP
asfbr-5	14	21	management	management	NOUN
asfbr-5	14	22	about	about	ADP
asfbr-5	14	23	the	the	DET
asfbr-5	14	24	portion	portion	NOUN
asfbr-5	14	25	of	of	ADP
asfbr-5	14	26	income	income	NOUN
asfbr-5	14	27	that	that	PRON
asfbr-5	14	28	is	be	AUX
asfbr-5	14	29	given	give	VERB
asfbr-5	14	30	to	to	ADP
asfbr-5	14	31	stakeholders	stakeholder	NOUN
asfbr-5	14	32	in	in	ADP
asfbr-5	14	33	the	the	DET
asfbr-5	14	34	form	form	NOUN
asfbr-5	14	35	of	of	ADP
asfbr-5	14	36	dividend	dividend	NOUN
asfbr-5	14	37	and	and	CCONJ
asfbr-5	14	38	this	this	PRON
asfbr-5	14	39	is	be	AUX
asfbr-5	14	40	an	an	DET
asfbr-5	14	41	arguable	arguable	ADJ
asfbr-5	14	42	issue	issue	NOUN
asfbr-5	14	43	for	for	ADP
asfbr-5	14	44	financial	financial	ADJ
asfbr-5	14	45	managers	manager	NOUN
asfbr-5	14	46	for	for	ADP
asfbr-5	14	47	decades	decade	NOUN
asfbr-5	14	48	(	(	PUNCT
asfbr-5	14	49	toby	toby	NOUN
asfbr-5	14	50	,	,	PUNCT
asfbr-5	14	51	2003	2003	NUM
asfbr-5	14	52	)	)	PUNCT
asfbr-5	14	53	.	.	PUNCT
asfbr-5	15	1	dividend	dividend	NOUN
asfbr-5	15	2	policy	policy	NOUN
asfbr-5	15	3	is	be	AUX
asfbr-5	15	4	also	also	ADV
asfbr-5	15	5	a	a	DET
asfbr-5	15	6	critical	critical	ADJ
asfbr-5	15	7	finance	finance	NOUN
asfbr-5	15	8	management	management	NOUN
asfbr-5	15	9	function	function	NOUN
asfbr-5	15	10	that	that	PRON
asfbr-5	15	11	determines	determine	VERB
asfbr-5	15	12	the	the	DET
asfbr-5	15	13	proportion	proportion	NOUN
asfbr-5	15	14	of	of	ADP
asfbr-5	15	15	corporate	corporate	ADJ
asfbr-5	15	16	profit	profit	NOUN
asfbr-5	15	17	that	that	PRON
asfbr-5	15	18	is	be	AUX
asfbr-5	15	19	distributed	distribute	VERB
asfbr-5	15	20	to	to	ADP
asfbr-5	15	21	shareholders	shareholder	NOUN
asfbr-5	15	22	and	and	CCONJ
asfbr-5	15	23	the	the	DET
asfbr-5	15	24	proportion	proportion	NOUN
asfbr-5	15	25	that	that	PRON
asfbr-5	15	26	is	be	AUX
asfbr-5	15	27	retained	retain	VERB
asfbr-5	15	28	.	.	PUNCT
asfbr-5	16	1	it	it	PRON
asfbr-5	16	2	is	be	AUX
asfbr-5	16	3	believed	believe	VERB
asfbr-5	16	4	that	that	SCONJ
asfbr-5	16	5	dividends	dividend	NOUN
asfbr-5	16	6	are	be	AUX
asfbr-5	16	7	highly	highly	ADV
asfbr-5	16	8	sensitive	sensitive	ADJ
asfbr-5	16	9	to	to	ADP
asfbr-5	16	10	external	external	ADJ
asfbr-5	16	11	events	event	NOUN
asfbr-5	16	12	such	such	ADJ
asfbr-5	16	13	as	as	ADP
asfbr-5	16	14	economic	economic	ADJ
asfbr-5	16	15	factors	factor	NOUN
asfbr-5	16	16	within	within	ADP
asfbr-5	16	17	the	the	DET
asfbr-5	16	18	operating	operating	NOUN
asfbr-5	16	19	environment	environment	NOUN
asfbr-5	16	20	.	.	PUNCT
asfbr-5	17	1	a	a	DET
asfbr-5	17	2	very	very	ADV
asfbr-5	17	3	important	important	ADJ
asfbr-5	17	4	aspect	aspect	NOUN
asfbr-5	17	5	of	of	ADP
asfbr-5	17	6	dividend	dividend	NOUN
asfbr-5	17	7	policy	policy	NOUN
asfbr-5	17	8	is	be	AUX
asfbr-5	17	9	retention	retention	NOUN
asfbr-5	17	10	ratio	ratio	NOUN
asfbr-5	17	11	.	.	PUNCT
asfbr-5	18	1	retention	retention	NOUN
asfbr-5	18	2	ratio	ratio	NOUN
asfbr-5	18	3	means	mean	VERB
asfbr-5	18	4	the	the	DET
asfbr-5	18	5	proportion	proportion	NOUN
asfbr-5	18	6	of	of	ADP
asfbr-5	18	7	earnings	earning	NOUN
asfbr-5	18	8	kept	keep	VERB
asfbr-5	18	9	back	back	ADV
asfbr-5	18	10	in	in	ADP
asfbr-5	18	11	the	the	DET
asfbr-5	18	12	business	business	NOUN
asfbr-5	18	13	as	as	ADP
asfbr-5	18	14	retained	retain	VERB
asfbr-5	18	15	earnings	earning	NOUN
asfbr-5	18	16	.	.	PUNCT
asfbr-5	19	1	in	in	ADP
asfbr-5	19	2	other	other	ADJ
asfbr-5	19	3	words	word	NOUN
asfbr-5	19	4	,	,	PUNCT
asfbr-5	19	5	it	it	PRON
asfbr-5	19	6	is	be	AUX
asfbr-5	19	7	the	the	DET
asfbr-5	19	8	percentage	percentage	NOUN
asfbr-5	19	9	of	of	ADP
asfbr-5	19	10	net	net	ADJ
asfbr-5	19	11	income	income	NOUN
asfbr-5	19	12	that	that	PRON
asfbr-5	19	13	is	be	AUX
asfbr-5	19	14	retained	retain	VERB
asfbr-5	19	15	to	to	PART
asfbr-5	19	16	grow	grow	VERB
asfbr-5	19	17	the	the	DET
asfbr-5	19	18	business	business	NOUN
asfbr-5	19	19	,	,	PUNCT
asfbr-5	19	20	rather	rather	ADV
asfbr-5	19	21	than	than	ADP
asfbr-5	19	22	being	be	AUX
asfbr-5	19	23	paid	pay	VERB
asfbr-5	19	24	out	out	ADP
asfbr-5	19	25	as	as	ADP
asfbr-5	19	26	dividends	dividend	NOUN
asfbr-5	19	27	to	to	ADP
asfbr-5	19	28	shareholders	shareholder	NOUN
asfbr-5	19	29	.	.	PUNCT
asfbr-5	20	1	despite	despite	SCONJ
asfbr-5	20	2	various	various	ADJ
asfbr-5	20	3	reforms	reform	NOUN
asfbr-5	20	4	,	,	PUNCT
asfbr-5	20	5	policies	policy	NOUN
asfbr-5	20	6	,	,	PUNCT
asfbr-5	20	7	structural	structural	ADJ
asfbr-5	20	8	changes	change	NOUN
asfbr-5	20	9	the	the	DET
asfbr-5	20	10	performance	performance	NOUN
asfbr-5	20	11	of	of	ADP
asfbr-5	20	12	corporate	corporate	ADJ
asfbr-5	20	13	organizations	organization	NOUN
asfbr-5	20	14	remains	remain	VERB
asfbr-5	20	15	abysmal	abysmal	ADJ
asfbr-5	20	16	and	and	CCONJ
asfbr-5	20	17	affects	affect	VERB
asfbr-5	20	18	the	the	DET
asfbr-5	20	19	retention	retention	NOUN
asfbr-5	20	20	ratio	ratio	NOUN
asfbr-5	20	21	of	of	ADP
asfbr-5	20	22	firms	firm	NOUN
asfbr-5	20	23	.	.	PUNCT
asfbr-5	21	1	unfortunately	unfortunately	ADV
asfbr-5	21	2	,	,	PUNCT
asfbr-5	21	3	a	a	DET
asfbr-5	21	4	significant	significant	ADJ
asfbr-5	21	5	proportion	proportion	NOUN
asfbr-5	21	6	of	of	ADP
asfbr-5	21	7	nigerian	nigerian	ADJ
asfbr-5	21	8	firms	firm	NOUN
asfbr-5	21	9	has	have	VERB
asfbr-5	21	10	no	no	DET
asfbr-5	21	11	consistent	consistent	ADJ
asfbr-5	21	12	retention	retention	NOUN
asfbr-5	21	13	ratio	ratio	NOUN
asfbr-5	21	14	policy	policy	NOUN
asfbr-5	21	15	over	over	ADP
asfbr-5	21	16	the	the	DET
asfbr-5	21	17	past	past	ADJ
asfbr-5	21	18	three	three	NUM
asfbr-5	21	19	decades	decade	NOUN
asfbr-5	21	20	,	,	PUNCT
asfbr-5	21	21	as	as	SCONJ
asfbr-5	21	22	they	they	PRON
asfbr-5	21	23	are	be	AUX
asfbr-5	21	24	largely	largely	ADV
asfbr-5	21	25	influenced	influence	VERB
asfbr-5	21	26	by	by	ADP
asfbr-5	21	27	unanticipated	unanticipated	ADJ
asfbr-5	21	28	economic	economic	ADJ
asfbr-5	21	29	events	event	NOUN
asfbr-5	21	30	with	with	ADP
asfbr-5	21	31	pervasive	pervasive	ADJ
asfbr-5	21	32	impact	impact	NOUN
asfbr-5	21	33	on	on	ADP
asfbr-5	21	34	dividend	dividend	NOUN
asfbr-5	21	35	decisions	decision	NOUN
asfbr-5	21	36	of	of	ADP
asfbr-5	21	37	firms	firm	NOUN
asfbr-5	21	38	as	as	SCONJ
asfbr-5	21	39	it	it	PRON
asfbr-5	21	40	relates	relate	VERB
asfbr-5	21	41	or	or	CCONJ
asfbr-5	21	42	affects	affect	VERB
asfbr-5	21	43	return	return	NOUN
asfbr-5	21	44	on	on	ADP
asfbr-5	21	45	the	the	DET
asfbr-5	21	46	ratio	ratio	NOUN
asfbr-5	21	47	.	.	PUNCT
asfbr-5	22	1	also	also	ADV
asfbr-5	22	2	,	,	PUNCT
asfbr-5	22	3	there	there	PRON
asfbr-5	22	4	is	be	VERB
asfbr-5	22	5	huge	huge	ADJ
asfbr-5	22	6	scarce	scarce	ADJ
asfbr-5	22	7	literature	literature	NOUN
asfbr-5	22	8	that	that	PRON
asfbr-5	22	9	identified	identify	VERB
asfbr-5	22	10	the	the	DET
asfbr-5	22	11	macroeconomic	macroeconomic	ADJ
asfbr-5	22	12	determinants	determinant	NOUN
asfbr-5	22	13	of	of	ADP
asfbr-5	22	14	dividend	dividend	NOUN
asfbr-5	22	15	decisions	decision	NOUN
asfbr-5	22	16	of	of	ADP
asfbr-5	22	17	firms	firm	NOUN
asfbr-5	22	18	.	.	PUNCT
asfbr-5	23	1	it	it	PRON
asfbr-5	23	2	is	be	AUX
asfbr-5	23	3	believed	believe	VERB
asfbr-5	23	4	that	that	SCONJ
asfbr-5	23	5	macroeconomic	macroeconomic	ADJ
asfbr-5	23	6	policy	policy	NOUN
asfbr-5	23	7	directly	directly	ADV
asfbr-5	23	8	or	or	CCONJ
asfbr-5	23	9	indirectly	indirectly	ADV
asfbr-5	23	10	determines	determine	VERB
asfbr-5	23	11	the	the	DET
asfbr-5	23	12	value	value	NOUN
asfbr-5	23	13	of	of	ADP
asfbr-5	23	14	firms	firm	NOUN
asfbr-5	23	15	retention	retention	VERB
asfbr-5	23	16	ratio	ratio	NOUN
asfbr-5	23	17	that	that	PRON
asfbr-5	23	18	shareholders	shareholder	NOUN
asfbr-5	23	19	desire	desire	VERB
asfbr-5	23	20	to	to	PART
asfbr-5	23	21	plow	plow	VERB
asfbr-5	23	22	back	back	ADP
asfbr-5	23	23	.	.	PUNCT
asfbr-5	24	1	in	in	ADP
asfbr-5	24	2	this	this	DET
asfbr-5	24	3	case	case	NOUN
asfbr-5	24	4	,	,	PUNCT
asfbr-5	24	5	behavioral	behavioral	ADJ
asfbr-5	24	6	finances	finance	NOUN
asfbr-5	24	7	play	play	VERB
asfbr-5	24	8	an	an	DET
asfbr-5	24	9	important	important	ADJ
asfbr-5	24	10	role	role	NOUN
asfbr-5	24	11	in	in	ADP
asfbr-5	24	12	explaining	explain	VERB
asfbr-5	24	13	the	the	DET
asfbr-5	24	14	dividend	dividend	NOUN
asfbr-5	24	15	policy	policy	NOUN
asfbr-5	24	16	in	in	ADP
asfbr-5	24	17	any	any	DET
asfbr-5	24	18	organization	organization	NOUN
asfbr-5	24	19	.	.	PUNCT
asfbr-5	25	1	miller	miller	PROPN
asfbr-5	25	2	(	(	PUNCT
asfbr-5	25	3	1986	1986	NUM
asfbr-5	25	4	)	)	PUNCT
asfbr-5	25	5	presents	present	VERB
asfbr-5	25	6	a	a	DET
asfbr-5	25	7	traditional	traditional	ADJ
asfbr-5	25	8	argument	argument	NOUN
asfbr-5	25	9	against	against	ADP
asfbr-5	25	10	behavioral	behavioral	ADJ
asfbr-5	25	11	finance	finance	NOUN
asfbr-5	25	12	by	by	ADP
asfbr-5	25	13	contending	contend	VERB
asfbr-5	25	14	that	that	SCONJ
asfbr-5	25	15	behavioral	behavioral	ADJ
asfbr-5	25	16	theories	theory	NOUN
asfbr-5	25	17	may	may	AUX
asfbr-5	25	18	be	be	AUX
asfbr-5	25	19	able	able	ADJ
asfbr-5	25	20	to	to	PART
asfbr-5	25	21	explain	explain	VERB
asfbr-5	25	22	the	the	DET
asfbr-5	25	23	micro	micro	ADJ
asfbr-5	25	24	factors	factor	NOUN
asfbr-5	25	25	,	,	PUNCT
asfbr-5	25	26	but	but	CCONJ
asfbr-5	25	27	rational	rational	ADJ
asfbr-5	25	28	theories	theory	NOUN
asfbr-5	25	29	suffice	suffice	VERB
asfbr-5	25	30	to	to	PART
asfbr-5	25	31	explain	explain	VERB
asfbr-5	25	32	the	the	DET
asfbr-5	25	33	macroeconomic	macroeconomic	ADJ
asfbr-5	25	34	aggregates	aggregate	NOUN
asfbr-5	25	35	that	that	PRON
asfbr-5	25	36	determine	determine	VERB
asfbr-5	25	37	dividend	dividend	NOUN
asfbr-5	25	38	policy	policy	NOUN
asfbr-5	25	39	.	.	PUNCT
asfbr-5	26	1	this	this	PRON
asfbr-5	26	2	suggests	suggest	VERB
asfbr-5	26	3	that	that	SCONJ
asfbr-5	26	4	the	the	DET
asfbr-5	26	5	factor	factor	NOUN
asfbr-5	26	6	that	that	PRON
asfbr-5	26	7	determines	determine	VERB
asfbr-5	26	8	corporate	corporate	ADJ
asfbr-5	26	9	retention	retention	NOUN
asfbr-5	26	10	ratio	ratio	NOUN
asfbr-5	26	11	remains	remain	VERB
asfbr-5	26	12	a	a	DET
asfbr-5	26	13	matter	matter	NOUN
asfbr-5	26	14	of	of	ADP
asfbr-5	26	15	debate	debate	NOUN
asfbr-5	26	16	among	among	ADP
asfbr-5	26	17	scholars	scholar	NOUN
asfbr-5	26	18	.	.	PUNCT
asfbr-5	27	1	knowledge	knowledge	NOUN
asfbr-5	27	2	on	on	ADP
asfbr-5	27	3	the	the	DET
asfbr-5	27	4	nexus	nexus	NOUN
asfbr-5	27	5	between	between	ADP
asfbr-5	27	6	dividend	dividend	NOUN
asfbr-5	27	7	and	and	CCONJ
asfbr-5	27	8	macroeconomic	macroeconomic	ADJ
asfbr-5	27	9	variables	variable	NOUN
asfbr-5	27	10	is	be	AUX
asfbr-5	27	11	crucial	crucial	ADJ
asfbr-5	27	12	to	to	ADP
asfbr-5	27	13	the	the	DET
asfbr-5	27	14	investors	investor	NOUN
asfbr-5	27	15	in	in	ADP
asfbr-5	27	16	the	the	DET
asfbr-5	27	17	equity	equity	NOUN
asfbr-5	27	18	market	market	NOUN
asfbr-5	27	19	as	as	ADV
asfbr-5	27	20	well	well	ADV
asfbr-5	27	21	as	as	ADP
asfbr-5	27	22	to	to	ADP
asfbr-5	27	23	the	the	DET
asfbr-5	27	24	policy	policy	NOUN
asfbr-5	27	25	makers	maker	NOUN
asfbr-5	27	26	.	.	PUNCT
asfbr-5	28	1	therefore	therefore	ADV
asfbr-5	28	2	,	,	PUNCT
asfbr-5	28	3	it	it	PRON
asfbr-5	28	4	is	be	AUX
asfbr-5	28	5	important	important	ADJ
asfbr-5	28	6	to	to	PART
asfbr-5	28	7	examine	examine	VERB
asfbr-5	28	8	the	the	DET
asfbr-5	28	9	relationship	relationship	NOUN
asfbr-5	28	10	between	between	ADP
asfbr-5	28	11	macroeconomic	macroeconomic	ADJ
asfbr-5	28	12	variables	variable	NOUN
asfbr-5	28	13	and	and	CCONJ
asfbr-5	28	14	retention	retention	NOUN
asfbr-5	28	15	ratio	ratio	NOUN
asfbr-5	28	16	of	of	ADP
asfbr-5	28	17	quoted	quote	VERB
asfbr-5	28	18	firms	firm	NOUN
asfbr-5	28	19	in	in	ADP
asfbr-5	28	20	nigeria	nigeria	PROPN
asfbr-5	28	21	.	.	PUNCT
asfbr-5	29	1	2	2	X
asfbr-5	29	2	.	.	X
asfbr-5	29	3	literature	literature	NOUN
asfbr-5	29	4	review	review	PROPN
asfbr-5	29	5	dividend	dividend	NOUN
asfbr-5	29	6	policy	policy	NOUN
asfbr-5	29	7	refers	refer	VERB
asfbr-5	29	8	to	to	ADP
asfbr-5	29	9	a	a	DET
asfbr-5	29	10	company	company	NOUN
asfbr-5	29	11	's	's	PART
asfbr-5	29	12	policy	policy	NOUN
asfbr-5	29	13	which	which	PRON
asfbr-5	29	14	determines	determine	VERB
asfbr-5	29	15	a	a	DET
asfbr-5	29	16	number	number	NOUN
asfbr-5	29	17	of	of	ADP
asfbr-5	29	18	dividend	dividend	NOUN
asfbr-5	29	19	payments	payment	NOUN
asfbr-5	29	20	and	and	CCONJ
asfbr-5	29	21	the	the	DET
asfbr-5	29	22	amounts	amount	NOUN
asfbr-5	29	23	of	of	ADP
asfbr-5	29	24	retained	retain	VERB
asfbr-5	29	25	earnings	earning	NOUN
asfbr-5	29	26	for	for	ADP
asfbr-5	29	27	reinvesting	reinveste	VERB
asfbr-5	29	28	in	in	ADP
asfbr-5	29	29	new	new	ADJ
asfbr-5	29	30	projects	project	NOUN
asfbr-5	29	31	.	.	PUNCT
asfbr-5	30	1	dividend	dividend	NOUN
asfbr-5	30	2	policy	policy	NOUN
asfbr-5	30	3	has	have	AUX
asfbr-5	30	4	been	be	AUX
asfbr-5	30	5	of	of	ADP
asfbr-5	30	6	great	great	ADJ
asfbr-5	30	7	interest	interest	NOUN
asfbr-5	30	8	to	to	ADP
asfbr-5	30	9	researchers	researcher	NOUN
asfbr-5	30	10	and	and	CCONJ
asfbr-5	30	11	extensive	extensive	ADJ
asfbr-5	30	12	empirical	empirical	ADJ
asfbr-5	30	13	research	research	NOUN
asfbr-5	30	14	has	have	AUX
asfbr-5	30	15	been	be	AUX
asfbr-5	30	16	carried	carry	VERB
asfbr-5	30	17	out	out	ADP
asfbr-5	30	18	to	to	PART
asfbr-5	30	19	identify	identify	VERB
asfbr-5	30	20	the	the	DET
asfbr-5	30	21	potential	potential	ADJ
asfbr-5	30	22	factors	factor	NOUN
asfbr-5	30	23	that	that	PRON
asfbr-5	30	24	influence	influence	VERB
asfbr-5	30	25	the	the	DET
asfbr-5	30	26	dividend	dividend	NOUN
asfbr-5	30	27	decision	decision	NOUN
asfbr-5	30	28	of	of	ADP
asfbr-5	30	29	the	the	DET
asfbr-5	30	30	firm	firm	NOUN
asfbr-5	30	31	.	.	PUNCT
asfbr-5	31	1	however	however	ADV
asfbr-5	31	2	,	,	PUNCT
asfbr-5	31	3	researchers	researcher	NOUN
asfbr-5	31	4	are	be	AUX
asfbr-5	31	5	still	still	ADV
asfbr-5	31	6	unable	unable	ADJ
asfbr-5	31	7	to	to	PART
asfbr-5	31	8	reach	reach	VERB
asfbr-5	31	9	a	a	DET
asfbr-5	31	10	consensus	consensus	NOUN
asfbr-5	31	11	in	in	ADP
asfbr-5	31	12	this	this	DET
asfbr-5	31	13	regards	regard	NOUN
asfbr-5	31	14	(	(	PUNCT
asfbr-5	31	15	kim	kim	PROPN
asfbr-5	31	16	and	and	CCONJ
asfbr-5	31	17	jang	jang	PROPN
asfbr-5	31	18	,	,	PUNCT
asfbr-5	31	19	2010	2010	NUM
asfbr-5	31	20	)	)	PUNCT
asfbr-5	31	21	.	.	PUNCT
asfbr-5	32	1	it	it	PRON
asfbr-5	32	2	has	have	AUX
asfbr-5	32	3	remained	remain	VERB
asfbr-5	32	4	a	a	DET
asfbr-5	32	5	puzzle	puzzle	NOUN
asfbr-5	32	6	for	for	ADP
asfbr-5	32	7	financial	financial	ADJ
asfbr-5	32	8	economists	economist	NOUN
asfbr-5	32	9	(	(	PUNCT
asfbr-5	32	10	black	black	ADJ
asfbr-5	32	11	,	,	PUNCT
asfbr-5	32	12	1976	1976	NUM
asfbr-5	32	13	)	)	PUNCT
asfbr-5	32	14	.	.	PUNCT
asfbr-5	33	1	duke	duke	PROPN
asfbr-5	33	2	,	,	PUNCT
asfbr-5	33	3	nneji	nneji	NOUN
asfbr-5	33	4	,	,	PUNCT
asfbr-5	33	5	and	and	CCONJ
asfbr-5	33	6	nkemare	nkemare	NOUN
asfbr-5	33	7	(	(	PUNCT
asfbr-5	33	8	2015	2015	NUM
asfbr-5	33	9	)	)	PUNCT
asfbr-5	33	10	examined	examine	VERB
asfbr-5	33	11	the	the	DET
asfbr-5	33	12	impact	impact	NOUN
asfbr-5	33	13	of	of	ADP
asfbr-5	33	14	dividend	dividend	NOUN
asfbr-5	33	15	policy	policy	NOUN
asfbr-5	33	16	on	on	ADP
asfbr-5	33	17	share	share	NOUN
asfbr-5	33	18	price	price	NOUN
asfbr-5	33	19	valuation	valuation	NOUN
asfbr-5	33	20	in	in	ADP
asfbr-5	33	21	nigerian	nigerian	ADJ
asfbr-5	33	22	banks	bank	NOUN
asfbr-5	33	23	,	,	PUNCT
asfbr-5	33	24	based	base	VERB
asfbr-5	33	25	on	on	ADP
asfbr-5	33	26	data	datum	NOUN
asfbr-5	33	27	from	from	ADP
asfbr-5	33	28	two	two	NUM
asfbr-5	33	29	banks	bank	NOUN
asfbr-5	33	30	operating	operate	VERB
asfbr-5	33	31	in	in	ADP
asfbr-5	33	32	nigeria	nigeria	PROPN
asfbr-5	33	33	.	.	PUNCT
asfbr-5	34	1	they	they	PRON
asfbr-5	34	2	found	find	VERB
asfbr-5	34	3	that	that	SCONJ
asfbr-5	34	4	dividend	dividend	NOUN
asfbr-5	34	5	yield	yield	NOUN
asfbr-5	34	6	had	have	VERB
asfbr-5	34	7	a	a	DET
asfbr-5	34	8	significantly	significantly	ADV
asfbr-5	34	9	negative	negative	ADJ
asfbr-5	34	10	effect	effect	NOUN
asfbr-5	34	11	on	on	ADP
asfbr-5	34	12	share	share	NOUN
asfbr-5	34	13	price	price	NOUN
asfbr-5	34	14	spyrou	spyrou	NOUN
asfbr-5	34	15	(	(	PUNCT
asfbr-5	34	16	2001	2001	NUM
asfbr-5	34	17	)	)	PUNCT
asfbr-5	34	18	studied	study	VERB
asfbr-5	34	19	the	the	DET
asfbr-5	34	20	relationship	relationship	NOUN
asfbr-5	34	21	between	between	ADP
asfbr-5	34	22	dividend	dividend	NOUN
asfbr-5	34	23	policy	policy	NOUN
asfbr-5	34	24	and	and	CCONJ
asfbr-5	34	25	inflation	inflation	NOUN
asfbr-5	34	26	for	for	ADP
asfbr-5	34	27	the	the	DET
asfbr-5	34	28	emerging	emerge	VERB
asfbr-5	34	29	economy	economy	NOUN
asfbr-5	34	30	of	of	ADP
asfbr-5	34	31	greece	greece	PROPN
asfbr-5	34	32	.	.	PUNCT
asfbr-5	35	1	spyrou	spyrou	PROPN
asfbr-5	35	2	(	(	PUNCT
asfbr-5	35	3	2001	2001	NUM
asfbr-5	35	4	)	)	PUNCT
asfbr-5	35	5	in	in	ADP
asfbr-5	35	6	consistent	consistent	ADJ
asfbr-5	35	7	with	with	ADP
asfbr-5	35	8	kaul	kaul	PROPN
asfbr-5	35	9	's	's	PART
asfbr-5	35	10	results	result	NOUN
asfbr-5	35	11	,	,	PUNCT
asfbr-5	35	12	found	find	VERB
asfbr-5	35	13	that	that	SCONJ
asfbr-5	35	14	inflation	inflation	NOUN
asfbr-5	35	15	and	and	CCONJ
asfbr-5	35	16	dividend	dividend	NOUN
asfbr-5	35	17	policy	policy	NOUN
asfbr-5	35	18	are	be	AUX
asfbr-5	35	19	negatively	negatively	ADV
asfbr-5	35	20	related	relate	VERB
asfbr-5	35	21	to	to	ADP
asfbr-5	35	22	the	the	DET
asfbr-5	35	23	year	year	NOUN
asfbr-5	35	24	1995	1995	NUM
asfbr-5	35	25	,	,	PUNCT
asfbr-5	35	26	after	after	ADP
asfbr-5	35	27	which	which	PRON
asfbr-5	35	28	the	the	DET
asfbr-5	35	29	relationship	relationship	NOUN
asfbr-5	35	30	became	become	VERB
asfbr-5	35	31	insignificant	insignificant	ADJ
asfbr-5	35	32	.	.	PUNCT
asfbr-5	36	1	spyrou	spyrou	NOUN
asfbr-5	36	2	accredited	accredit	VERB
asfbr-5	36	3	the	the	DET
asfbr-5	36	4	change	change	NOUN
asfbr-5	36	5	in	in	ADP
asfbr-5	36	6	the	the	DET
asfbr-5	36	7	relationship	relationship	NOUN
asfbr-5	36	8	to	to	ADP
asfbr-5	36	9	the	the	DET
asfbr-5	36	10	increased	increase	VERB
asfbr-5	36	11	role	role	NOUN
asfbr-5	36	12	of	of	ADP
asfbr-5	36	13	monetary	monetary	ADJ
asfbr-5	36	14	fluctuations	fluctuation	NOUN
asfbr-5	36	15	in	in	ADP
asfbr-5	36	16	line	line	NOUN
asfbr-5	36	17	with	with	ADP
asfbr-5	36	18	marshalls	marshall	NOUN
asfbr-5	36	19	(	(	PUNCT
asfbr-5	36	20	1992	1992	NUM
asfbr-5	36	21	)	)	PUNCT
asfbr-5	36	22	argument	argument	NOUN
asfbr-5	36	23	,	,	PUNCT
asfbr-5	36	24	which	which	PRON
asfbr-5	36	25	states	state	VERB
asfbr-5	36	26	that	that	SCONJ
asfbr-5	36	27	the	the	DET
asfbr-5	36	28	negative	negative	ADJ
asfbr-5	36	29	relationship	relationship	NOUN
asfbr-5	36	30	between	between	ADP
asfbr-5	36	31	stock	stock	NOUN
asfbr-5	36	32	price	price	NOUN
asfbr-5	36	33	returns	return	NOUN
asfbr-5	36	34	will	will	AUX
asfbr-5	36	35	be	be	AUX
asfbr-5	36	36	less	less	ADV
asfbr-5	36	37	pronounced	pronounce	VERB
asfbr-5	36	38	during	during	ADP
asfbr-5	36	39	the	the	DET
asfbr-5	36	40	periods	period	NOUN
asfbr-5	36	41	when	when	SCONJ
asfbr-5	36	42	inflation	inflation	NOUN
asfbr-5	36	43	is	be	AUX
asfbr-5	36	44	generated	generate	VERB
asfbr-5	36	45	by	by	ADP
asfbr-5	36	46	monetary	monetary	ADJ
asfbr-5	36	47	fluctuations	fluctuation	NOUN
asfbr-5	36	48	.	.	PUNCT
asfbr-5	37	1	ralph	ralph	PROPN
asfbr-5	37	2	and	and	CCONJ
asfbr-5	37	3	eriki	eriki	PROPN
asfbr-5	37	4	(	(	PUNCT
asfbr-5	37	5	2001	2001	NUM
asfbr-5	37	6	)	)	PUNCT
asfbr-5	37	7	conducted	conduct	VERB
asfbr-5	37	8	an	an	DET
asfbr-5	37	9	empirical	empirical	ADJ
asfbr-5	37	10	study	study	NOUN
asfbr-5	37	11	on	on	ADP
asfbr-5	37	12	nigerian	nigerian	ADJ
asfbr-5	37	13	stock	stock	NOUN
asfbr-5	37	14	market	market	NOUN
asfbr-5	37	15	and	and	CCONJ
asfbr-5	37	16	found	find	VERB
asfbr-5	37	17	that	that	SCONJ
asfbr-5	37	18	a	a	DET
asfbr-5	37	19	negative	negative	ADJ
asfbr-5	37	20	relationship	relationship	NOUN
asfbr-5	37	21	exists	exist	VERB
asfbr-5	37	22	between	between	ADP
asfbr-5	37	23	dividend	dividend	NOUN
asfbr-5	37	24	policy	policy	NOUN
asfbr-5	37	25	and	and	CCONJ
asfbr-5	37	26	inflation	inflation	NOUN
asfbr-5	37	27	.	.	PUNCT
asfbr-5	38	1	however	however	ADV
asfbr-5	38	2	,	,	PUNCT
asfbr-5	38	3	they	they	PRON
asfbr-5	38	4	also	also	ADV
asfbr-5	38	5	showed	show	VERB
asfbr-5	38	6	that	that	SCONJ
asfbr-5	38	7	the	the	DET
asfbr-5	38	8	dividend	dividend	NOUN
asfbr-5	38	9	policies	policy	NOUN
asfbr-5	38	10	are	be	AUX
asfbr-5	38	11	also	also	ADV
asfbr-5	38	12	strongly	strongly	ADV
asfbr-5	38	13	motivated	motivate	VERB
asfbr-5	38	14	by	by	ADP
asfbr-5	38	15	the	the	DET
asfbr-5	38	16	level	level	NOUN
asfbr-5	38	17	of	of	ADP
asfbr-5	38	18	economic	economic	ADJ
asfbr-5	38	19	activity	activity	NOUN
asfbr-5	38	20	measured	measure	VERB
asfbr-5	38	21	by	by	ADP
asfbr-5	38	22	interest	interest	NOUN
asfbr-5	38	23	rate	rate	NOUN
asfbr-5	38	24	,	,	PUNCT
asfbr-5	38	25	money	money	NOUN
asfbr-5	38	26	stock	stock	NOUN
asfbr-5	38	27	,	,	PUNCT
asfbr-5	38	28	gdp	gdp	NOUN
asfbr-5	38	29	and	and	CCONJ
asfbr-5	38	30	financial	financial	ADJ
asfbr-5	38	31	deregulation	deregulation	NOUN
asfbr-5	38	32	.	.	PUNCT
asfbr-5	39	1	kalyanaraman	kalyanaraman	PROPN
asfbr-5	39	2	and	and	CCONJ
asfbr-5	39	3	al	al	PROPN
asfbr-5	39	4	-	-	PUNCT
asfbr-5	39	5	tuwajri	tuwajri	PROPN
asfbr-5	39	6	(	(	PUNCT
asfbr-5	39	7	2014	2014	NUM
asfbr-5	39	8	)	)	PUNCT
asfbr-5	39	9	examined	examine	VERB
asfbr-5	39	10	the	the	DET
asfbr-5	39	11	existence	existence	NOUN
asfbr-5	39	12	of	of	ADP
asfbr-5	39	13	a	a	DET
asfbr-5	39	14	long	long	ADJ
asfbr-5	39	15	run	run	NOUN
asfbr-5	39	16	relationship	relationship	NOUN
asfbr-5	39	17	among	among	ADP
asfbr-5	39	18	five	five	NUM
asfbr-5	39	19	macroeconomic	macroeconomic	ADJ
asfbr-5	39	20	variables	variable	NOUN
asfbr-5	39	21	of	of	ADP
asfbr-5	39	22	cpi	cpi	NOUN
asfbr-5	39	23	,	,	PUNCT
asfbr-5	39	24	industrial	industrial	ADJ
asfbr-5	39	25	output	output	NOUN
asfbr-5	39	26	,	,	PUNCT
asfbr-5	39	27	money	money	NOUN
asfbr-5	39	28	supply	supply	NOUN
asfbr-5	39	29	,	,	PUNCT
asfbr-5	39	30	exchange	exchange	NOUN
asfbr-5	39	31	rate	rate	NOUN
asfbr-5	39	32	,	,	PUNCT
asfbr-5	39	33	oil	oil	NOUN
asfbr-5	39	34	price	price	NOUN
asfbr-5	39	35	along	along	ADP
asfbr-5	39	36	with	with	ADP
asfbr-5	39	37	proxy	proxy	NOUN
asfbr-5	39	38	of	of	ADP
asfbr-5	39	39	s&p	s&p	PROPN
asfbr-5	39	40	500	500	NUM
asfbr-5	39	41	and	and	CCONJ
asfbr-5	39	42	the	the	DET
asfbr-5	39	43	tasi	tasi	PROPN
asfbr-5	39	44	(	(	PUNCT
asfbr-5	39	45	saudi	saudi	ADJ
asfbr-5	39	46	all	all	DET
asfbr-5	39	47	stock	stock	NOUN
asfbr-5	39	48	index	index	NOUN
asfbr-5	39	49	)	)	PUNCT
asfbr-5	39	50	.	.	PUNCT
asfbr-5	40	1	they	they	PRON
asfbr-5	40	2	used	use	VERB
asfbr-5	40	3	monthly	monthly	ADJ
asfbr-5	40	4	data	datum	NOUN
asfbr-5	40	5	from	from	ADP
asfbr-5	40	6	1994	1994	NUM
asfbr-5	40	7	to	to	ADP
asfbr-5	40	8	2013	2013	NUM
asfbr-5	40	9	and	and	CCONJ
asfbr-5	40	10	applied	apply	VERB
asfbr-5	40	11	the	the	DET
asfbr-5	40	12	time	time	NOUN
asfbr-5	40	13	series	series	NOUN
asfbr-5	40	14	analysis	analysis	NOUN
asfbr-5	40	15	.	.	PUNCT
asfbr-5	41	1	they	they	PRON
asfbr-5	41	2	found	find	VERB
asfbr-5	41	3	an	an	DET
asfbr-5	41	4	existence	existence	NOUN
asfbr-5	41	5	of	of	ADP
asfbr-5	41	6	a	a	DET
asfbr-5	41	7	long	long	ADJ
asfbr-5	41	8	run	run	NOUN
asfbr-5	41	9	relationship	relationship	NOUN
asfbr-5	41	10	among	among	ADP
asfbr-5	41	11	the	the	DET
asfbr-5	41	12	five	five	NUM
asfbr-5	41	13	variables	variable	NOUN
asfbr-5	41	14	and	and	CCONJ
asfbr-5	41	15	all	all	DET
asfbr-5	41	16	the	the	DET
asfbr-5	41	17	five	five	NUM
asfbr-5	41	18	variables	variable	NOUN
asfbr-5	41	19	put	put	VERB
asfbr-5	41	20	an	an	DET
asfbr-5	41	21	impact	impact	NOUN
asfbr-5	41	22	on	on	ADP
asfbr-5	41	23	stock	stock	NOUN
asfbr-5	41	24	price	price	NOUN
asfbr-5	41	25	whereas	whereas	SCONJ
asfbr-5	41	26	s&p	s&p	PROPN
asfbr-5	41	27	500	500	NUM
asfbr-5	41	28	index	index	NOUN
asfbr-5	41	29	does	do	AUX
asfbr-5	41	30	not	not	PART
asfbr-5	41	31	impact	impact	VERB
asfbr-5	41	32	saudi	saudi	ADJ
asfbr-5	41	33	stock	stock	NOUN
asfbr-5	41	34	prices	price	NOUN
asfbr-5	41	35	.	.	PUNCT
asfbr-5	42	1	they	they	PRON
asfbr-5	42	2	also	also	ADV
asfbr-5	42	3	found	find	VERB
asfbr-5	42	4	a	a	DET
asfbr-5	42	5	two	two	NUM
asfbr-5	42	6	-	-	PUNCT
asfbr-5	42	7	way	way	NOUN
asfbr-5	42	8	causality	causality	NOUN
asfbr-5	42	9	between	between	ADP
asfbr-5	42	10	stock	stock	NOUN
asfbr-5	42	11	prices	price	NOUN
asfbr-5	42	12	and	and	CCONJ
asfbr-5	42	13	oil	oil	NOUN
asfbr-5	42	14	prices	price	NOUN
asfbr-5	42	15	they	they	PRON
asfbr-5	42	16	also	also	ADV
asfbr-5	42	17	found	find	VERB
asfbr-5	42	18	that	that	SCONJ
asfbr-5	42	19	the	the	DET
asfbr-5	42	20	industrial	industrial	ADJ
asfbr-5	42	21	production	production	NOUN
asfbr-5	42	22	shocks	shock	NOUN
asfbr-5	42	23	push	push	VERB
asfbr-5	42	24	up	up	ADP
asfbr-5	42	25	the	the	DET
asfbr-5	42	26	stock	stock	NOUN
asfbr-5	42	27	prices	price	NOUN
asfbr-5	42	28	while	while	SCONJ
asfbr-5	42	29	consumer	consumer	NOUN
asfbr-5	42	30	price	price	NOUN
asfbr-5	42	31	index	index	NOUN
asfbr-5	42	32	shocks	shock	NOUN
asfbr-5	42	33	pull	pull	VERB
asfbr-5	42	34	the	the	DET
asfbr-5	42	35	stock	stock	NOUN
asfbr-5	42	36	price	price	NOUN
asfbr-5	42	37	down	down	ADP
asfbr-5	42	38	.	.	PUNCT
asfbr-5	43	1	mwangi	mwangi	PROPN
asfbr-5	43	2	(	(	PUNCT
asfbr-5	43	3	2013	2013	NUM
asfbr-5	43	4	)	)	PUNCT
asfbr-5	43	5	tries	try	VERB
asfbr-5	43	6	to	to	PART
asfbr-5	43	7	determine	determine	VERB
asfbr-5	43	8	the	the	DET
asfbr-5	43	9	effect	effect	NOUN
asfbr-5	43	10	of	of	ADP
asfbr-5	43	11	macroeconomic	macroeconomic	ADJ
asfbr-5	43	12	variables	variable	NOUN
asfbr-5	43	13	such	such	ADJ
asfbr-5	43	14	as	as	ADP
asfbr-5	43	15	real	real	ADJ
asfbr-5	43	16	exchange	exchange	NOUN
asfbr-5	43	17	rate	rate	NOUN
asfbr-5	43	18	,	,	PUNCT
asfbr-5	43	19	gdp	gdp	NOUN
asfbr-5	43	20	growth	growth	NOUN
asfbr-5	43	21	rate	rate	NOUN
asfbr-5	43	22	,	,	PUNCT
asfbr-5	43	23	the	the	DET
asfbr-5	43	24	change	change	NOUN
asfbr-5	43	25	in	in	ADP
asfbr-5	43	26	money	money	NOUN
asfbr-5	43	27	supply	supply	NOUN
asfbr-5	43	28	(	(	PUNCT
asfbr-5	43	29	m3	m3	PROPN
asfbr-5	43	30	)	)	PUNCT
asfbr-5	43	31	,	,	PUNCT
asfbr-5	43	32	average	average	ADJ
asfbr-5	43	33	annual	annual	ADJ
asfbr-5	43	34	lending	lending	NOUN
asfbr-5	43	35	interest	interest	NOUN
asfbr-5	43	36	rates	rate	NOUN
asfbr-5	43	37	and	and	CCONJ
asfbr-5	43	38	inflation	inflation	NOUN
asfbr-5	43	39	rate	rate	NOUN
asfbr-5	43	40	measured	measure	VERB
asfbr-5	43	41	by	by	ADP
asfbr-5	43	42	annual	annual	ADJ
asfbr-5	43	43	percentage	percentage	NOUN
asfbr-5	43	44	changes	change	NOUN
asfbr-5	43	45	in	in	ADP
asfbr-5	43	46	the	the	DET
asfbr-5	43	47	consumer	consumer	NOUN
asfbr-5	43	48	price	price	NOUN
asfbr-5	43	49	index	index	NOUN
asfbr-5	43	50	(	(	PUNCT
asfbr-5	43	51	cpi	cpi	PROPN
asfbr-5	43	52	)	)	PUNCT
asfbr-5	43	53	on	on	ADP
asfbr-5	43	54	financial	financial	ADJ
asfbr-5	43	55	performance	performance	NOUN
asfbr-5	43	56	proxied	proxie	VERB
asfbr-5	43	57	by	by	ADP
asfbr-5	43	58	return	return	NOUN
asfbr-5	43	59	on	on	ADP
asfbr-5	43	60	assets	asset	NOUN
asfbr-5	43	61	(	(	PUNCT
asfbr-5	43	62	roa	roa	NOUN
asfbr-5	43	63	)	)	PUNCT
asfbr-5	43	64	of	of	ADP
asfbr-5	43	65	aviation	aviation	NOUN
asfbr-5	43	66	industry	industry	NOUN
asfbr-5	43	67	in	in	ADP
asfbr-5	43	68	kenya	kenya	PROPN
asfbr-5	43	69	.	.	PUNCT
asfbr-5	44	1	the	the	DET
asfbr-5	44	2	results	result	NOUN
asfbr-5	44	3	reveal	reveal	VERB
asfbr-5	44	4	that	that	SCONJ
asfbr-5	44	5	roa	roa	PROPN
asfbr-5	44	6	has	have	VERB
asfbr-5	44	7	a	a	DET
asfbr-5	44	8	weak	weak	ADJ
asfbr-5	44	9	positive	positive	ADJ
asfbr-5	44	10	insignificant	insignificant	ADJ
asfbr-5	44	11	correlation	correlation	NOUN
asfbr-5	44	12	with	with	ADP
asfbr-5	44	13	gross	gross	ADJ
asfbr-5	44	14	domestic	domestic	ADJ
asfbr-5	44	15	products	product	NOUN
asfbr-5	44	16	growth	growth	NOUN
asfbr-5	44	17	rate	rate	NOUN
asfbr-5	44	18	and	and	CCONJ
asfbr-5	44	19	annual	annual	ADJ
asfbr-5	44	20	change	change	NOUN
asfbr-5	44	21	in	in	ADP
asfbr-5	44	22	money	money	NOUN
asfbr-5	44	23	supply	supply	NOUN
asfbr-5	44	24	while	while	SCONJ
asfbr-5	44	25	a	a	DET
asfbr-5	44	26	weak	weak	ADJ
asfbr-5	44	27	negative	negative	ADJ
asfbr-5	44	28	insignificant	insignificant	ADJ
asfbr-5	44	29	correlation	correlation	NOUN
asfbr-5	44	30	exists	exist	VERB
asfbr-5	44	31	between	between	ADP
asfbr-5	44	32	roa	roa	NOUN
asfbr-5	44	33	and	and	CCONJ
asfbr-5	44	34	exchange	exchange	NOUN
asfbr-5	44	35	rate	rate	NOUN
asfbr-5	44	36	,	,	PUNCT
asfbr-5	44	37	annual	annual	ADJ
asfbr-5	44	38	average	average	ADJ
asfbr-5	44	39	lending	lending	NOUN
asfbr-5	44	40	rate	rate	NOUN
asfbr-5	44	41	and	and	CCONJ
asfbr-5	44	42	annual	annual	ADJ
asfbr-5	44	43	average	average	ADJ
asfbr-5	44	44	inflation	inflation	NOUN
asfbr-5	44	45	.	.	PUNCT
asfbr-5	45	1	singh	singh	PROPN
asfbr-5	45	2	,	,	PUNCT
asfbr-5	45	3	tripathi	tripathi	PROPN
asfbr-5	45	4	,	,	PUNCT
asfbr-5	45	5	and	and	CCONJ
asfbr-5	45	6	parashar	parashar	PROPN
asfbr-5	45	7	(	(	PUNCT
asfbr-5	45	8	2013	2013	NUM
asfbr-5	45	9	)	)	PUNCT
asfbr-5	45	10	examined	examine	VERB
asfbr-5	45	11	the	the	DET
asfbr-5	45	12	primary	primary	ADJ
asfbr-5	45	13	factors	factor	NOUN
asfbr-5	45	14	those	those	PRON
asfbr-5	45	15	are	be	AUX
asfbr-5	45	16	responsible	responsible	ADJ
asfbr-5	45	17	for	for	ADP
asfbr-5	45	18	affecting	affect	VERB
asfbr-5	45	19	the	the	DET
asfbr-5	45	20	index	index	NOUN
asfbr-5	45	21	(	(	PUNCT
asfbr-5	45	22	nifty	nifty	ADJ
asfbr-5	45	23	)	)	PUNCT
asfbr-5	45	24	in	in	ADP
asfbr-5	45	25	national	national	ADJ
asfbr-5	45	26	stock	stock	NOUN
asfbr-5	45	27	index	index	NOUN
asfbr-5	45	28	in	in	ADP
asfbr-5	45	29	india	india	PROPN
asfbr-5	45	30	.	.	PUNCT
asfbr-5	46	1	they	they	PRON
asfbr-5	46	2	took	take	VERB
asfbr-5	46	3	exchange	exchange	NOUN
asfbr-5	46	4	rate	rate	NOUN
asfbr-5	46	5	,	,	PUNCT
asfbr-5	46	6	insurance	insurance	NOUN
asfbr-5	46	7	intermediation	intermediation	NOUN
asfbr-5	46	8	premium	premium	NOUN
asfbr-5	46	9	(	(	PUNCT
asfbr-5	46	10	iip	iip	PROPN
asfbr-5	46	11	)	)	PUNCT
asfbr-5	46	12	,	,	PUNCT
asfbr-5	46	13	wpi	wpi	NOUN
asfbr-5	46	14	as	as	ADP
asfbr-5	46	15	the	the	DET
asfbr-5	46	16	independent	independent	ADJ
asfbr-5	46	17	variable	variable	NOUN
asfbr-5	46	18	and	and	CCONJ
asfbr-5	46	19	applied	apply	VERB
asfbr-5	46	20	regression	regression	NOUN
asfbr-5	46	21	analysis	analysis	NOUN
asfbr-5	46	22	and	and	CCONJ
asfbr-5	46	23	found	find	VERB
asfbr-5	46	24	that	that	SCONJ
asfbr-5	46	25	iip	iip	PROPN
asfbr-5	46	26	,	,	PUNCT
asfbr-5	46	27	exchange	exchange	NOUN
asfbr-5	46	28	rate	rate	NOUN
asfbr-5	46	29	,	,	PUNCT
asfbr-5	46	30	and	and	CCONJ
asfbr-5	46	31	wpi	wpi	NOUN
asfbr-5	46	32	influences	influence	VERB
asfbr-5	46	33	the	the	DET
asfbr-5	46	34	stock	stock	NOUN
asfbr-5	46	35	prices	price	NOUN
asfbr-5	46	36	.	.	PUNCT
asfbr-5	47	1	abedallat	abedallat	NOUN
asfbr-5	47	2	and	and	CCONJ
asfbr-5	47	3	shabib	shabib	ADJ
asfbr-5	47	4	(	(	PUNCT
asfbr-5	47	5	2012	2012	NUM
asfbr-5	47	6	)	)	PUNCT
asfbr-5	47	7	examined	examine	VERB
asfbr-5	47	8	the	the	DET
asfbr-5	47	9	impact	impact	NOUN
asfbr-5	47	10	of	of	ADP
asfbr-5	47	11	macroeconomic	macroeconomic	ADJ
asfbr-5	47	12	indicators	indicator	NOUN
asfbr-5	47	13	like	like	ADP
asfbr-5	47	14	a	a	DET
asfbr-5	47	15	change	change	NOUN
asfbr-5	47	16	in	in	ADP
asfbr-5	47	17	investment	investment	NOUN
asfbr-5	47	18	and	and	CCONJ
asfbr-5	47	19	gross	gross	ADJ
asfbr-5	47	20	domestic	domestic	ADJ
asfbr-5	47	21	product	product	NOUN
asfbr-5	47	22	(	(	PUNCT
asfbr-5	47	23	gdp	gdp	NOUN
asfbr-5	47	24	)	)	PUNCT
asfbr-5	47	25	as	as	ADP
asfbr-5	47	26	the	the	DET
asfbr-5	47	27	independent	independent	ADJ
asfbr-5	47	28	variables	variable	NOUN
asfbr-5	47	29	and	and	CCONJ
asfbr-5	47	30	the	the	DET
asfbr-5	47	31	movement	movement	NOUN
asfbr-5	47	32	of	of	ADP
asfbr-5	47	33	amman	amman	PROPN
asfbr-5	47	34	stock	stock	PROPN
asfbr-5	47	35	exchange	exchange	PROPN
asfbr-5	47	36	index	index	NOUN
asfbr-5	47	37	as	as	ADP
asfbr-5	47	38	the	the	DET
asfbr-5	47	39	dependent	dependent	ADJ
asfbr-5	47	40	variable	variable	NOUN
asfbr-5	47	41	for	for	ADP
asfbr-5	47	42	the	the	DET
asfbr-5	47	43	data	datum	NOUN
asfbr-5	47	44	period	period	NOUN
asfbr-5	47	45	of	of	ADP
asfbr-5	47	46	19902009	19902009	NUM
asfbr-5	47	47	.	.	PUNCT
asfbr-5	48	1	for	for	ADP
asfbr-5	48	2	the	the	DET
asfbr-5	48	3	analysis	analysis	NOUN
asfbr-5	48	4	of	of	ADP
asfbr-5	48	5	the	the	DET
asfbr-5	48	6	above	above	ADJ
asfbr-5	48	7	relationship	relationship	NOUN
asfbr-5	48	8	,	,	PUNCT
asfbr-5	48	9	they	they	PRON
asfbr-5	48	10	used	use	VERB
asfbr-5	48	11	the	the	DET
asfbr-5	48	12	multiple	multiple	ADJ
asfbr-5	48	13	regressions	regression	NOUN
asfbr-5	48	14	.	.	PUNCT
asfbr-5	49	1	they	they	PRON
asfbr-5	49	2	found	find	VERB
asfbr-5	49	3	a	a	DET
asfbr-5	49	4	relationship	relationship	NOUN
asfbr-5	49	5	between	between	ADP
asfbr-5	49	6	the	the	DET
asfbr-5	49	7	two	two	NUM
asfbr-5	49	8	macroeconomic	macroeconomic	ADJ
asfbr-5	49	9	indicators	indicator	NOUN
asfbr-5	49	10	(	(	PUNCT
asfbr-5	49	11	the	the	DET
asfbr-5	49	12	investment	investment	NOUN
asfbr-5	49	13	and	and	CCONJ
asfbr-5	49	14	gdp	gdp	NOUN
asfbr-5	49	15	)	)	PUNCT
asfbr-5	49	16	and	and	CCONJ
asfbr-5	49	17	the	the	DET
asfbr-5	49	18	amman	amman	PROPN
asfbr-5	49	19	stock	stock	PROPN
asfbr-5	49	20	exchange	exchange	PROPN
asfbr-5	49	21	index	index	NOUN
asfbr-5	49	22	,	,	PUNCT
asfbr-5	49	23	and	and	CCONJ
asfbr-5	49	24	also	also	ADV
asfbr-5	49	25	between	between	ADP
asfbr-5	49	26	each	each	PRON
asfbr-5	49	27	of	of	ADP
asfbr-5	49	28	them	they	PRON
asfbr-5	49	29	separately	separately	ADV
asfbr-5	49	30	and	and	CCONJ
asfbr-5	49	31	the	the	DET
asfbr-5	49	32	stock	stock	NOUN
asfbr-5	49	33	index	index	NOUN
asfbr-5	49	34	,	,	PUNCT
asfbr-5	49	35	which	which	PRON
asfbr-5	49	36	means	mean	VERB
asfbr-5	49	37	that	that	SCONJ
asfbr-5	49	38	the	the	DET
asfbr-5	49	39	movement	movement	NOUN
asfbr-5	49	40	of	of	ADP
asfbr-5	49	41	prices	price	NOUN
asfbr-5	49	42	in	in	ADP
asfbr-5	49	43	the	the	DET
asfbr-5	49	44	amman	amman	PROPN
asfbr-5	49	45	stock	stock	PROPN
asfbr-5	49	46	exchange	exchange	PROPN
asfbr-5	49	47	affected	affect	VERB
asfbr-5	49	48	by	by	ADP
asfbr-5	49	49	the	the	DET
asfbr-5	49	50	movement	movement	NOUN
asfbr-5	49	51	of	of	ADP
asfbr-5	49	52	these	these	DET
asfbr-5	49	53	two	two	NUM
asfbr-5	49	54	variables	variable	NOUN
asfbr-5	49	55	,	,	PUNCT
asfbr-5	49	56	and	and	CCONJ
asfbr-5	49	57	there	there	PRON
asfbr-5	49	58	is	be	VERB
asfbr-5	49	59	the	the	DET
asfbr-5	49	60	effect	effect	NOUN
asfbr-5	49	61	of	of	ADP
asfbr-5	49	62	both	both	DET
asfbr-5	49	63	variables	variable	NOUN
asfbr-5	49	64	on	on	ADP
asfbr-5	49	65	the	the	DET
asfbr-5	49	66	movement	movement	NOUN
asfbr-5	49	67	of	of	ADP
asfbr-5	49	68	amman	amman	PROPN
asfbr-5	49	69	stock	stock	PROPN
asfbr-5	49	70	exchange	exchange	PROPN
asfbr-5	49	71	index	index	NOUN
asfbr-5	49	72	.	.	PUNCT
asfbr-5	50	1	further	far	ADV
asfbr-5	50	2	,	,	PUNCT
asfbr-5	50	3	they	they	PRON
asfbr-5	50	4	found	find	VERB
asfbr-5	50	5	the	the	DET
asfbr-5	50	6	impact	impact	NOUN
asfbr-5	50	7	of	of	ADP
asfbr-5	50	8	the	the	DET
asfbr-5	50	9	change	change	NOUN
asfbr-5	50	10	in	in	ADP
asfbr-5	50	11	investments	investment	NOUN
asfbr-5	50	12	was	be	AUX
asfbr-5	50	13	greater	great	ADJ
asfbr-5	50	14	than	than	ADP
asfbr-5	50	15	the	the	DET
asfbr-5	50	16	impact	impact	NOUN
asfbr-5	50	17	of	of	ADP
asfbr-5	50	18	the	the	DET
asfbr-5	50	19	change	change	NOUN
asfbr-5	50	20	in	in	ADP
asfbr-5	50	21	gdp	gdp	NOUN
asfbr-5	50	22	on	on	ADP
asfbr-5	50	23	the	the	DET
asfbr-5	50	24	amman	amman	PROPN
asfbr-5	50	25	stock	stock	PROPN
asfbr-5	50	26	exchange	exchange	PROPN
asfbr-5	50	27	index	index	PROPN
asfbr-5	50	28	.	.	PUNCT
asfbr-5	51	1	basse	basse	PROPN
asfbr-5	51	2	and	and	CCONJ
asfbr-5	51	3	reddemann	reddemann	PROPN
asfbr-5	51	4	(	(	PUNCT
asfbr-5	51	5	2011	2011	NUM
asfbr-5	51	6	)	)	PUNCT
asfbr-5	51	7	examined	examine	VERB
asfbr-5	51	8	inflation	inflation	NOUN
asfbr-5	51	9	and	and	CCONJ
asfbr-5	51	10	dividend	dividend	NOUN
asfbr-5	51	11	policy	policy	NOUN
asfbr-5	51	12	of	of	ADP
asfbr-5	51	13	us	us	PROPN
asfbr-5	51	14	firms	firm	NOUN
asfbr-5	51	15	and	and	CCONJ
asfbr-5	51	16	pointed	point	VERB
asfbr-5	51	17	that	that	SCONJ
asfbr-5	51	18	the	the	DET
asfbr-5	51	19	neglecting	neglecting	NOUN
asfbr-5	51	20	of	of	ADP
asfbr-5	51	21	macroeconomic	macroeconomic	ADJ
asfbr-5	51	22	variables	variable	NOUN
asfbr-5	51	23	as	as	ADP
asfbr-5	51	24	the	the	DET
asfbr-5	51	25	important	important	ADJ
asfbr-5	51	26	reason	reason	NOUN
asfbr-5	51	27	why	why	SCONJ
asfbr-5	51	28	empirical	empirical	ADJ
asfbr-5	51	29	tests	test	NOUN
asfbr-5	51	30	often	often	ADV
asfbr-5	51	31	fail	fail	VERB
asfbr-5	51	32	to	to	PART
asfbr-5	51	33	support	support	VERB
asfbr-5	51	34	theories	theory	NOUN
asfbr-5	51	35	of	of	ADP
asfbr-5	51	36	dividend	dividend	NOUN
asfbr-5	51	37	determination	determination	NOUN
asfbr-5	51	38	.	.	PUNCT
asfbr-5	52	1	he	he	PRON
asfbr-5	52	2	found	find	VERB
asfbr-5	52	3	a	a	DET
asfbr-5	52	4	stable	stable	ADJ
asfbr-5	52	5	long	long	ADJ
asfbr-5	52	6	-	-	PUNCT
asfbr-5	52	7	run	run	NOUN
asfbr-5	52	8	relationship	relationship	NOUN
asfbr-5	52	9	between	between	ADP
asfbr-5	52	10	dividend	dividend	NOUN
asfbr-5	52	11	payments	payment	NOUN
asfbr-5	52	12	and	and	CCONJ
asfbr-5	52	13	real	real	ADJ
asfbr-5	52	14	economic	economic	ADJ
asfbr-5	52	15	activity	activity	NOUN
asfbr-5	52	16	and	and	CCONJ
asfbr-5	52	17	price	price	NOUN
asfbr-5	52	18	level	level	NOUN
asfbr-5	52	19	.	.	PUNCT
asfbr-5	53	1	3	3	X
asfbr-5	53	2	.	.	X
asfbr-5	53	3	model	model	NOUN
asfbr-5	53	4	and	and	CCONJ
asfbr-5	53	5	estimation	estimation	NOUN
asfbr-5	53	6	techniques	technique	NOUN
asfbr-5	53	7	the	the	DET
asfbr-5	53	8	ordinary	ordinary	ADJ
asfbr-5	53	9	least	least	ADJ
asfbr-5	53	10	squares	square	NOUN
asfbr-5	53	11	(	(	PUNCT
asfbr-5	53	12	ols	ol	NOUN
asfbr-5	53	13	)	)	PUNCT
asfbr-5	53	14	has	have	AUX
asfbr-5	53	15	been	be	AUX
asfbr-5	53	16	successfully	successfully	ADV
asfbr-5	53	17	used	use	VERB
asfbr-5	53	18	in	in	ADP
asfbr-5	53	19	studies	study	NOUN
asfbr-5	53	20	(	(	PUNCT
asfbr-5	53	21	abedallat	abedallat	NOUN
asfbr-5	53	22	and	and	CCONJ
asfbr-5	53	23	shabib	shabib	ADJ
asfbr-5	53	24	,	,	PUNCT
asfbr-5	53	25	2012	2012	NUM
asfbr-5	53	26	;	;	PUNCT
asfbr-5	53	27	singh	singh	PROPN
asfbr-5	53	28	,	,	PUNCT
asfbr-5	53	29	tripathi	tripathi	PROPN
asfbr-5	53	30	,	,	PUNCT
asfbr-5	53	31	and	and	CCONJ
asfbr-5	53	32	parashar	parashar	NOUN
asfbr-5	53	33	,	,	PUNCT
asfbr-5	53	34	2013	2013	NUM
asfbr-5	53	35	;	;	PUNCT
asfbr-5	53	36	and	and	CCONJ
asfbr-5	53	37	amadi	amadi	NOUN
asfbr-5	53	38	,	,	PUNCT
asfbr-5	53	39	oneyema	oneyema	NOUN
asfbr-5	53	40	and	and	CCONJ
asfbr-5	53	41	odubo	odubo	ADJ
asfbr-5	53	42	,	,	PUNCT
asfbr-5	53	43	2000	2000	NUM
asfbr-5	53	44	)	)	PUNCT
asfbr-5	53	45	,	,	PUNCT
asfbr-5	53	46	hence	hence	ADV
asfbr-5	53	47	,	,	PUNCT
asfbr-5	53	48	this	this	DET
asfbr-5	53	49	technique	technique	NOUN
asfbr-5	53	50	is	be	AUX
asfbr-5	53	51	employed	employ	VERB
asfbr-5	53	52	in	in	ADP
asfbr-5	53	53	estimating	estimate	VERB
asfbr-5	53	54	the	the	DET
asfbr-5	53	55	specified	specify	VERB
asfbr-5	53	56	equations	equation	NOUN
asfbr-5	53	57	,	,	PUNCT
asfbr-5	53	58	while	while	SCONJ
asfbr-5	53	59	the	the	DET
asfbr-5	53	60	eviews	eview	NOUN
asfbr-5	53	61	9	9	NUM
asfbr-5	53	62	as	as	ADP
asfbr-5	53	63	a	a	DET
asfbr-5	53	64	computing	computing	NOUN
asfbr-5	53	65	platform	platform	NOUN
asfbr-5	53	66	in	in	ADP
asfbr-5	53	67	the	the	DET
asfbr-5	53	68	analysis	analysis	NOUN
asfbr-5	53	69	.	.	PUNCT
asfbr-5	54	1	the	the	DET
asfbr-5	54	2	study	study	NOUN
asfbr-5	54	3	utilized	utilize	VERB
asfbr-5	54	4	annual	annual	ADJ
asfbr-5	54	5	time	time	NOUN
asfbr-5	54	6	series	series	PROPN
asfbr-5	54	7	secondary	secondary	ADJ
asfbr-5	54	8	data	datum	NOUN
asfbr-5	54	9	(	(	PUNCT
asfbr-5	54	10	1981	1981	NUM
asfbr-5	54	11	–	–	PUNCT
asfbr-5	54	12	2014	2014	NUM
asfbr-5	54	13	)	)	PUNCT
asfbr-5	54	14	.	.	PUNCT
asfbr-5	55	1	all	all	DET
asfbr-5	55	2	the	the	DET
asfbr-5	55	3	data	datum	NOUN
asfbr-5	55	4	set	set	VERB
asfbr-5	55	5	are	be	AUX
asfbr-5	55	6	obtained	obtain	VERB
asfbr-5	55	7	from	from	ADP
asfbr-5	55	8	the	the	DET
asfbr-5	55	9	nigerian	nigerian	ADJ
asfbr-5	55	10	stock	stock	NOUN
asfbr-5	55	11	exchange	exchange	PROPN
asfbr-5	55	12	fact	fact	NOUN
asfbr-5	55	13	book	book	NOUN
asfbr-5	55	14	,	,	PUNCT
asfbr-5	55	15	central	central	ADJ
asfbr-5	55	16	bank	bank	PROPN
asfbr-5	55	17	of	of	ADP
asfbr-5	55	18	nigeria	nigeria	PROPN
asfbr-5	55	19	(	(	PUNCT
asfbr-5	55	20	cbn	cbn	PROPN
asfbr-5	55	21	)	)	PUNCT
asfbr-5	55	22	,	,	PUNCT
asfbr-5	55	23	and	and	CCONJ
asfbr-5	55	24	annual	annual	ADJ
asfbr-5	55	25	reports	report	NOUN
asfbr-5	55	26	and	and	CCONJ
asfbr-5	55	27	statement	statement	NOUN
asfbr-5	55	28	of	of	ADP
asfbr-5	55	29	accounts	account	NOUN
asfbr-5	55	30	.	.	PUNCT
asfbr-5	56	1	in	in	ADP
asfbr-5	56	2	line	line	NOUN
asfbr-5	56	3	with	with	ADP
asfbr-5	56	4	olugbenga	olugbenga	NOUN
asfbr-5	56	5	(	(	PUNCT
asfbr-5	56	6	2011	2011	NUM
asfbr-5	56	7	)	)	PUNCT
asfbr-5	56	8	,	,	PUNCT
asfbr-5	56	9	osa	osa	PROPN
asfbr-5	56	10	and	and	CCONJ
asfbr-5	56	11	ikaibo	ikaibo	PROPN
asfbr-5	56	12	(	(	PUNCT
asfbr-5	56	13	2002	2002	NUM
asfbr-5	56	14	)	)	PUNCT
asfbr-5	56	15	,	,	PUNCT
asfbr-5	56	16	amadi	amadi	NOUN
asfbr-5	56	17	,	,	PUNCT
asfbr-5	56	18	oneyema	oneyema	NOUN
asfbr-5	56	19	and	and	CCONJ
asfbr-5	56	20	odubo	odubo	ADJ
asfbr-5	56	21	(	(	PUNCT
asfbr-5	56	22	2000	2000	NUM
asfbr-5	56	23	)	)	PUNCT
asfbr-5	56	24	,	,	PUNCT
asfbr-5	56	25	the	the	DET
asfbr-5	56	26	regression	regression	NOUN
asfbr-5	56	27	model	model	NOUN
asfbr-5	56	28	takes	take	VERB
asfbr-5	56	29	the	the	DET
asfbr-5	56	30	form	form	NOUN
asfbr-5	56	31	:	:	PUNCT
asfbr-5	56	32	rr	rr	PROPN
asfbr-5	57	1	=	=	SYM
asfbr-5	57	2	β0	β0	PROPN
asfbr-5	57	3	+	+	CCONJ
asfbr-5	57	4	β1intr	β1intr	NOUN
asfbr-5	57	5	+	+	CCONJ
asfbr-5	57	6	β2oilp	β2oilp	PROPN
asfbr-5	57	7	+	+	CCONJ
asfbr-5	57	8	β3fd	β3fd	PUNCT
asfbr-5	57	9	+	+	CCONJ
asfbr-5	57	10	β4cd	β4cd	PUNCT
asfbr-5	57	11	+	+	CCONJ
asfbr-5	57	12	β5m2	β5m2	PUNCT
asfbr-5	58	1	+	+	NUM
asfbr-5	58	2	β6infr	β6infr	NOUN
asfbr-5	58	3	+	+	X
asfbr-5	58	4	β7rgdp	β7rgdp	NOUN
asfbr-5	58	5	+	+	CCONJ
asfbr-5	58	6	β8exr	β8exr	NUM
asfbr-5	58	7	+	+	CCONJ
asfbr-5	58	8	i	i	NOUN
asfbr-5	58	9	…	…	X
asfbr-5	58	10	.	.	PUNCT
asfbr-5	59	1	(	(	PUNCT
asfbr-5	59	2	1	1	X
asfbr-5	59	3	)	)	PUNCT
asfbr-5	59	4	where	where	SCONJ
asfbr-5	59	5	:	:	PUNCT
asfbr-5	59	6	rr	rr	NOUN
asfbr-5	59	7	=	=	PUNCT
asfbr-5	59	8	retention	retention	NOUN
asfbr-5	59	9	rate	rate	NOUN
asfbr-5	59	10	intr	intr	NOUN
asfbr-5	59	11	=	=	SYM
asfbr-5	59	12	interest	interest	NOUN
asfbr-5	59	13	rate	rate	NOUN
asfbr-5	59	14	oilp	oilp	ADJ
asfbr-5	59	15	=	=	PUNCT
asfbr-5	59	16	oil	oil	NOUN
asfbr-5	59	17	price	price	NOUN
asfbr-5	59	18	fd	fd	NOUN
asfbr-5	59	19	=	=	PUNCT
asfbr-5	59	20	financial	financial	ADJ
asfbr-5	59	21	sector	sector	NOUN
asfbr-5	59	22	deepening	deepen	VERB
asfbr-5	59	23	cd	cd	NOUN
asfbr-5	59	24	=	=	SYM
asfbr-5	59	25	capital	capital	NOUN
asfbr-5	59	26	market	market	NOUN
asfbr-5	59	27	mos	mos	NOUN
asfbr-5	59	28	=	=	SYM
asfbr-5	59	29	broad	broad	ADJ
asfbr-5	59	30	money	money	NOUN
asfbr-5	59	31	supply	supply	NOUN
asfbr-5	59	32	infr	infr	ADP
asfbr-5	59	33	=	=	PUNCT
asfbr-5	59	34	inflation	inflation	NOUN
asfbr-5	59	35	rate	rate	NOUN
asfbr-5	59	36	rgdp	rgdp	NOUN
asfbr-5	59	37	=	=	PUNCT
asfbr-5	59	38	real	real	ADJ
asfbr-5	59	39	gross	gross	ADJ
asfbr-5	59	40	domestic	domestic	ADJ
asfbr-5	59	41	product	product	NOUN
asfbr-5	59	42	exr	exr	X
asfbr-5	59	43	=	=	SYM
asfbr-5	59	44	exchange	exchange	NOUN
asfbr-5	59	45	rate	rate	NOUN
asfbr-5	59	46	i	i	NOUN
asfbr-5	59	47	=	=	NOUN
asfbr-5	59	48	error	error	NOUN
asfbr-5	59	49	term	term	NOUN
asfbr-5	59	50	βi	βi	PRON
asfbr-5	59	51	β8	β8	NOUN
asfbr-5	59	52	=	=	PUNCT
asfbr-5	59	53	coefficient	coefficient	NOUN
asfbr-5	59	54	of	of	ADP
asfbr-5	59	55	the	the	DET
asfbr-5	59	56	independent	independent	ADJ
asfbr-5	59	57	variables	variable	NOUN
asfbr-5	59	58	β0	β0	NOUN
asfbr-5	59	59	=	=	PUNCT
asfbr-5	59	60	regression	regression	NOUN
asfbr-5	59	61	intercept	intercept	NOUN
asfbr-5	59	62	4	4	NUM
asfbr-5	59	63	.	.	PUNCT
asfbr-5	59	64	empirical	empirical	ADJ
asfbr-5	59	65	results	result	NOUN
asfbr-5	59	66	and	and	CCONJ
asfbr-5	59	67	analysis	analysis	NOUN
asfbr-5	59	68	we	we	PRON
asfbr-5	59	69	present	present	VERB
asfbr-5	59	70	and	and	CCONJ
asfbr-5	59	71	analyze	analyze	VERB
asfbr-5	59	72	the	the	DET
asfbr-5	59	73	estimated	estimate	VERB
asfbr-5	59	74	short	short	ADJ
asfbr-5	59	75	-	-	PUNCT
asfbr-5	59	76	run	run	NOUN
asfbr-5	59	77	model	model	NOUN
asfbr-5	59	78	based	base	VERB
asfbr-5	59	79	on	on	ADP
asfbr-5	59	80	some	some	DET
asfbr-5	59	81	goodness	goodness	NOUN
asfbr-5	59	82	of	of	ADP
asfbr-5	59	83	-	-	PUNCT
asfbr-5	59	84	fit	fit	NOUN
asfbr-5	59	85	criterion	criterion	NOUN
asfbr-5	59	86	,	,	PUNCT
asfbr-5	59	87	such	such	ADJ
asfbr-5	59	88	as	as	ADP
asfbr-5	59	89	akaike	akaike	ADJ
asfbr-5	59	90	information	information	NOUN
asfbr-5	59	91	criterion	criterion	NOUN
asfbr-5	59	92	(	(	PUNCT
asfbr-5	59	93	aic	aic	PROPN
asfbr-5	59	94	)	)	PUNCT
asfbr-5	59	95	and	and	CCONJ
asfbr-5	59	96	schwartz	schwartz	PROPN
asfbr-5	59	97	information	information	NOUN
asfbr-5	59	98	criterion	criterion	NOUN
asfbr-5	59	99	(	(	PUNCT
asfbr-5	59	100	sic	sic	ADJ
asfbr-5	59	101	)	)	PUNCT
asfbr-5	59	102	for	for	ADP
asfbr-5	59	103	selection	selection	NOUN
asfbr-5	59	104	of	of	ADP
asfbr-5	59	105	lag	lag	NOUN
asfbr-5	59	106	length	length	NOUN
asfbr-5	59	107	in	in	ADP
asfbr-5	59	108	a	a	DET
asfbr-5	59	109	model	model	NOUN
asfbr-5	59	110	,	,	PUNCT
asfbr-5	59	111	hence	hence	ADV
asfbr-5	59	112	;	;	PUNCT
asfbr-5	59	113	it	it	PRON
asfbr-5	59	114	is	be	AUX
asfbr-5	59	115	presented	present	VERB
asfbr-5	59	116	in	in	ADP
asfbr-5	59	117	the	the	DET
asfbr-5	59	118	table	table	NOUN
asfbr-5	59	119	below	below	ADV
asfbr-5	59	120	;	;	PUNCT
asfbr-5	59	121	table	table	NOUN
asfbr-5	59	122	1	1	NUM
asfbr-5	59	123	:	:	PUNCT
asfbr-5	59	124	short	short	ADJ
asfbr-5	59	125	-	-	PUNCT
asfbr-5	59	126	run	run	NOUN
asfbr-5	59	127	estimated	estimate	VERB
asfbr-5	59	128	result	result	NOUN
asfbr-5	59	129	showing	show	VERB
asfbr-5	59	130	the	the	DET
asfbr-5	59	131	effects	effect	NOUN
asfbr-5	59	132	of	of	ADP
asfbr-5	59	133	macroeconomic	macroeconomic	ADJ
asfbr-5	59	134	variables	variable	NOUN
asfbr-5	59	135	on	on	ADP
asfbr-5	59	136	dividend	dividend	NOUN
asfbr-5	59	137	policy	policy	NOUN
asfbr-5	59	138	indices	index	NOUN
asfbr-5	59	139	in	in	ADP
asfbr-5	59	140	nigeria	nigeria	PROPN
asfbr-5	59	141	variable	variable	ADJ
asfbr-5	59	142	δrr	δrr	PROPN
asfbr-5	59	143	c	c	PROPN
asfbr-5	59	144	-8.712443	-8.712443	PROPN
asfbr-5	59	145	(	(	PUNCT
asfbr-5	59	146	-0.340313	-0.340313	NOUN
asfbr-5	59	147	)	)	PUNCT
asfbr-5	59	148	δintr	δintr	NOUN
asfbr-5	59	149	-26.07145	-26.07145	PUNCT
asfbr-5	59	150	(	(	PUNCT
asfbr-5	59	151	-5.129213	-5.129213	NOUN
asfbr-5	59	152	)	)	PUNCT
asfbr-5	59	153	*	*	PUNCT
asfbr-5	59	154	δintr(-1	δintr(-1	ADJ
asfbr-5	59	155	)	)	PUNCT
asfbr-5	59	156	-4.901002	-4.901002	NOUN
asfbr-5	59	157	(	(	PUNCT
asfbr-5	59	158	-1.338707	-1.338707	NOUN
asfbr-5	59	159	)	)	PUNCT
asfbr-5	59	160	δintr(-2	δintr(-2	ADJ
asfbr-5	59	161	)	)	PUNCT
asfbr-5	59	162	-7.099566	-7.099566	NOUN
asfbr-5	59	163	(	(	PUNCT
asfbr-5	59	164	-1.751070	-1.751070	NOUN
asfbr-5	59	165	)	)	PUNCT
asfbr-5	59	166	δoip	δoip	NOUN
asfbr-5	59	167	1.378985	1.378985	NUM
asfbr-5	59	168	(	(	PUNCT
asfbr-5	59	169	3.242073	3.242073	NUM
asfbr-5	59	170	)	)	PUNCT
asfbr-5	59	171	*	*	PUNCT
asfbr-5	59	172	δoip(-1	δoip(-1	PROPN
asfbr-5	59	173	)	)	PUNCT
asfbr-5	59	174	1.424468	1.424468	NUM
asfbr-5	59	175	(	(	PUNCT
asfbr-5	59	176	3.075754	3.075754	NUM
asfbr-5	59	177	)	)	PUNCT
asfbr-5	59	178	*	*	SYM
asfbr-5	59	179	δoip(-2	δoip(-2	NOUN
asfbr-5	59	180	)	)	PUNCT
asfbr-5	59	181	2.485007	2.485007	NUM
asfbr-5	59	182	(	(	PUNCT
asfbr-5	59	183	4.534692	4.534692	NUM
asfbr-5	59	184	)	)	PUNCT
asfbr-5	59	185	*	*	PUNCT
asfbr-5	59	186	δcd	δcd	VERB
asfbr-5	59	187	0.002173	0.002173	NUM
asfbr-5	59	188	(	(	PUNCT
asfbr-5	59	189	0.268275	0.268275	NUM
asfbr-5	59	190	)	)	PUNCT
asfbr-5	59	191	δcd(-1	δcd(-1	ADJ
asfbr-5	59	192	)	)	PUNCT
asfbr-5	59	193	-0.026711	-0.026711	NOUN
asfbr-5	59	194	(	(	PUNCT
asfbr-5	59	195	-2.392656	-2.392656	ADJ
asfbr-5	59	196	)	)	PUNCT
asfbr-5	59	197	δcd(-2	δcd(-2	NOUN
asfbr-5	59	198	)	)	PUNCT
asfbr-5	60	1	-0.011735	-0.011735	NOUN
asfbr-5	60	2	(	(	PUNCT
asfbr-5	60	3	-0.435949	-0.435949	NOUN
asfbr-5	60	4	)	)	PUNCT
asfbr-5	60	5	δfd	δfd	NOUN
asfbr-5	60	6	2.136948	2.136948	NUM
asfbr-5	60	7	(	(	PUNCT
asfbr-5	60	8	0.362346	0.362346	NUM
asfbr-5	60	9	)	)	PUNCT
asfbr-5	60	10	δfd(-1	δfd(-1	ADJ
asfbr-5	60	11	)	)	PUNCT
asfbr-5	60	12	18.50266	18.50266	NUM
asfbr-5	60	13	(	(	PUNCT
asfbr-5	60	14	1.822995	1.822995	NUM
asfbr-5	60	15	)	)	PUNCT
asfbr-5	60	16	δfd(-2	δfd(-2	PROPN
asfbr-5	60	17	)	)	PUNCT
asfbr-5	60	18	10.22963	10.22963	NUM
asfbr-5	60	19	(	(	PUNCT
asfbr-5	60	20	2.465365	2.465365	NUM
asfbr-5	60	21	)	)	PUNCT
asfbr-5	60	22	*	*	PUNCT
asfbr-5	60	23	δinfr	δinfr	ADJ
asfbr-5	60	24	-0.005405	-0.005405	X
asfbr-5	60	25	(	(	PUNCT
asfbr-5	60	26	-0.004556	-0.004556	NOUN
asfbr-5	60	27	)	)	PUNCT
asfbr-5	60	28	δinfr(-1	δinfr(-1	ADJ
asfbr-5	60	29	)	)	PUNCT
asfbr-5	60	30	-1.839189	-1.839189	NOUN
asfbr-5	60	31	(	(	PUNCT
asfbr-5	60	32	-1.030609	-1.030609	NOUN
asfbr-5	60	33	)	)	PUNCT
asfbr-5	60	34	δinfr(-2	δinfr(-2	NOUN
asfbr-5	60	35	)	)	PUNCT
asfbr-5	60	36	-0.697949	-0.697949	NOUN
asfbr-5	60	37	(	(	PUNCT
asfbr-5	60	38	-0.676941	-0.676941	ADJ
asfbr-5	60	39	)	)	PUNCT
asfbr-5	60	40	δrgdp	δrgdp	NOUN
asfbr-5	60	41	14.59239	14.59239	NUM
asfbr-5	60	42	(	(	PUNCT
asfbr-5	60	43	2.827198	2.827198	NUM
asfbr-5	60	44	)	)	PUNCT
asfbr-5	60	45	*	*	PUNCT
asfbr-5	60	46	δrgdp(-1	δrgdp(-1	PROPN
asfbr-5	60	47	)	)	PUNCT
asfbr-5	60	48	18.72948	18.72948	NUM
asfbr-5	60	49	(	(	PUNCT
asfbr-5	60	50	2.626467	2.626467	NUM
asfbr-5	60	51	)	)	PUNCT
asfbr-5	60	52	*	*	PUNCT
asfbr-5	61	1	δrgdp(-2	δrgdp(-2	PROPN
asfbr-5	61	2	)	)	PUNCT
asfbr-5	61	3	-37.52078	-37.52078	PUNCT
asfbr-5	61	4	(	(	PUNCT
asfbr-5	61	5	-3.727010	-3.727010	NOUN
asfbr-5	61	6	)	)	PUNCT
asfbr-5	61	7	*	*	PUNCT
asfbr-5	61	8	δexr	δexr	PROPN
asfbr-5	61	9	2.665646	2.665646	NUM
asfbr-5	61	10	(	(	PUNCT
asfbr-5	61	11	1.236714	1.236714	NUM
asfbr-5	61	12	)	)	PUNCT
asfbr-5	61	13	δexr(-1	δexr(-1	PROPN
asfbr-5	61	14	)	)	PUNCT
asfbr-5	61	15	-2.192780	-2.192780	NOUN
asfbr-5	61	16	(	(	PUNCT
asfbr-5	61	17	-1.236992	-1.236992	PROPN
asfbr-5	61	18	)	)	PUNCT
asfbr-5	61	19	δexr(-2	δexr(-2	NOUN
asfbr-5	61	20	)	)	PUNCT
asfbr-5	61	21	5.856717	5.856717	NUM
asfbr-5	61	22	(	(	PUNCT
asfbr-5	61	23	2.386177	2.386177	NUM
asfbr-5	61	24	)	)	PUNCT
asfbr-5	61	25	*	*	PUNCT
asfbr-5	61	26	δmos	δmos	PROPN
asfbr-5	61	27	9.170141	9.170141	NUM
asfbr-5	61	28	(	(	PUNCT
asfbr-5	61	29	3.623753	3.623753	NUM
asfbr-5	61	30	)	)	PUNCT
asfbr-5	61	31	*	*	PUNCT
asfbr-5	61	32	δmos(-1	δmos(-1	X
asfbr-5	61	33	)	)	PUNCT
asfbr-5	61	34	4.854979	4.854979	NUM
asfbr-5	61	35	(	(	PUNCT
asfbr-5	61	36	2.577289	2.577289	NUM
asfbr-5	61	37	)	)	PUNCT
asfbr-5	61	38	*	*	PUNCT
asfbr-5	61	39	δmos(-2	δmos(-2	NOUN
asfbr-5	61	40	)	)	PUNCT
asfbr-5	61	41	-0.041259	-0.041259	NOUN
asfbr-5	61	42	(	(	PUNCT
asfbr-5	61	43	-0.025766	-0.025766	NOUN
asfbr-5	61	44	)	)	PUNCT
asfbr-5	61	45	ecm(-1	ecm(-1	PROPN
asfbr-5	61	46	)	)	PUNCT
asfbr-5	61	47	-1.540177	-1.540177	NOUN
asfbr-5	61	48	(	(	PUNCT
asfbr-5	61	49	-7.039320	-7.039320	PROPN
asfbr-5	61	50	)	)	PUNCT
asfbr-5	61	51	*	*	PUNCT
asfbr-5	62	1	r	r	X
asfbr-5	62	2	-	-	PUNCT
asfbr-5	62	3	squared	square	VERB
asfbr-5	62	4	0.972314	0.972314	NUM
asfbr-5	62	5	f	f	X
asfbr-5	62	6	-	-	PUNCT
asfbr-5	62	7	statistic	statistic	ADJ
asfbr-5	62	8	7.023826	7.023826	NUM
asfbr-5	62	9	(	(	PUNCT
asfbr-5	62	10	0.019475	0.019475	NUM
asfbr-5	62	11	)	)	PUNCT
asfbr-5	62	12	*	*	PUNCT
asfbr-5	62	13	durbin	durbin	ADJ
asfbr-5	62	14	-	-	PUNCT
asfbr-5	62	15	watson	watson	NOUN
asfbr-5	62	16	stat	stat	PROPN
asfbr-5	62	17	1.294621	1.294621	NUM
asfbr-5	62	18	breusch	breusch	ADJ
asfbr-5	62	19	-	-	PUNCT
asfbr-5	62	20	godfrey	godfrey	NOUN
asfbr-5	62	21	test	test	NOUN
asfbr-5	62	22	0.398060	0.398060	NUM
asfbr-5	62	23	(	(	PUNCT
asfbr-5	62	24	0.7025	0.7025	NUM
asfbr-5	62	25	)	)	PUNCT
asfbr-5	62	26	source	source	NOUN
asfbr-5	62	27	:	:	PUNCT
asfbr-5	62	28	eviews	eviews	PROPN
asfbr-5	62	29	9	9	NUM
asfbr-5	62	30	computation	computation	NOUN
asfbr-5	62	31	note	note	NOUN
asfbr-5	62	32	:	:	PUNCT
asfbr-5	62	33	t	t	NOUN
asfbr-5	62	34	-	-	PUNCT
asfbr-5	62	35	statistic	statistic	NOUN
asfbr-5	62	36	in	in	ADP
asfbr-5	62	37	parenthesis	parenthesis	NOUN
asfbr-5	62	38	(	(	PUNCT
asfbr-5	62	39	)	)	PUNCT
asfbr-5	62	40	,	,	PUNCT
asfbr-5	62	41	*	*	VERB
asfbr-5	62	42	indicates	indicate	VERB
asfbr-5	62	43	significance	significance	NOUN
asfbr-5	62	44	at	at	ADP
asfbr-5	62	45	5	5	NUM
asfbr-5	62	46	%	%	NOUN
asfbr-5	62	47	the	the	DET
asfbr-5	62	48	above	above	ADJ
asfbr-5	62	49	error	error	NOUN
asfbr-5	62	50	correction	correction	NOUN
asfbr-5	62	51	model	model	NOUN
asfbr-5	62	52	shows	show	VERB
asfbr-5	62	53	that	that	SCONJ
asfbr-5	62	54	the	the	DET
asfbr-5	62	55	coefficient	coefficient	NOUN
asfbr-5	62	56	of	of	ADP
asfbr-5	62	57	determination	determination	NOUN
asfbr-5	62	58	(	(	PUNCT
asfbr-5	62	59	r2	r2	PROPN
asfbr-5	62	60	)	)	PUNCT
asfbr-5	62	61	was	be	AUX
asfbr-5	62	62	significantly	significantly	ADV
asfbr-5	62	63	high	high	ADJ
asfbr-5	62	64	.	.	PUNCT
asfbr-5	63	1	that	that	PRON
asfbr-5	63	2	is	is	ADV
asfbr-5	63	3	,	,	PUNCT
asfbr-5	63	4	the	the	DET
asfbr-5	63	5	selected	select	VERB
asfbr-5	63	6	macroeconomic	macroeconomic	ADJ
asfbr-5	63	7	variables	variable	NOUN
asfbr-5	63	8	explained	explain	VERB
asfbr-5	63	9	97	97	NUM
asfbr-5	63	10	%	%	NOUN
asfbr-5	63	11	changes	change	NOUN
asfbr-5	63	12	in	in	ADP
asfbr-5	63	13	retention	retention	NOUN
asfbr-5	63	14	ratio	ratio	NOUN
asfbr-5	63	15	.	.	PUNCT
asfbr-5	64	1	also	also	ADV
asfbr-5	64	2	the	the	DET
asfbr-5	64	3	overall	overall	ADJ
asfbr-5	64	4	regression	regression	NOUN
asfbr-5	64	5	was	be	AUX
asfbr-5	64	6	significant	significant	ADJ
asfbr-5	64	7	at	at	ADP
asfbr-5	64	8	5	5	NUM
asfbr-5	64	9	%	%	NOUN
asfbr-5	64	10	.	.	PUNCT
asfbr-5	65	1	the	the	DET
asfbr-5	65	2	error	error	NOUN
asfbr-5	65	3	correction	correction	NOUN
asfbr-5	65	4	coefficients	coefficient	NOUN
asfbr-5	65	5	have	have	VERB
asfbr-5	65	6	the	the	DET
asfbr-5	65	7	expected	expect	VERB
asfbr-5	65	8	sign	sign	NOUN
asfbr-5	65	9	and	and	CCONJ
asfbr-5	65	10	relatively	relatively	ADV
asfbr-5	65	11	high	high	ADJ
asfbr-5	65	12	,	,	PUNCT
asfbr-5	65	13	though	though	SCONJ
asfbr-5	65	14	rr	rr	PROPN
asfbr-5	65	15	is	be	AUX
asfbr-5	65	16	significant	significant	ADJ
asfbr-5	65	17	.	.	PUNCT
asfbr-5	66	1	the	the	DET
asfbr-5	66	2	a	a	DET
asfbr-5	66	3	priori	priori	NOUN
asfbr-5	66	4	of	of	ADP
asfbr-5	66	5	the	the	DET
asfbr-5	66	6	signs	sign	NOUN
asfbr-5	66	7	of	of	ADP
asfbr-5	66	8	explanatory	explanatory	ADJ
asfbr-5	66	9	variables	variable	NOUN
asfbr-5	66	10	in	in	ADP
asfbr-5	66	11	the	the	DET
asfbr-5	66	12	rr	rr	NOUN
asfbr-5	66	13	equation	equation	NOUN
asfbr-5	66	14	were	be	AUX
asfbr-5	66	15	correctly	correctly	ADV
asfbr-5	66	16	sign	sign	NOUN
asfbr-5	66	17	,	,	PUNCT
asfbr-5	66	18	except	except	SCONJ
asfbr-5	66	19	one	one	NUM
asfbr-5	66	20	and	and	CCONJ
asfbr-5	66	21	two	two	NUM
asfbr-5	66	22	-	-	PUNCT
asfbr-5	66	23	period	period	NOUN
asfbr-5	66	24	lag	lag	NOUN
asfbr-5	66	25	capital	capital	NOUN
asfbr-5	66	26	market	market	NOUN
asfbr-5	66	27	development	development	NOUN
asfbr-5	66	28	,	,	PUNCT
asfbr-5	66	29	current	current	ADJ
asfbr-5	66	30	period	period	NOUN
asfbr-5	66	31	exchange	exchange	NOUN
asfbr-5	66	32	rate	rate	NOUN
asfbr-5	66	33	,	,	PUNCT
asfbr-5	66	34	lag	lag	VERB
asfbr-5	66	35	two	two	NUM
asfbr-5	66	36	exchange	exchange	NOUN
asfbr-5	66	37	rate	rate	NOUN
asfbr-5	66	38	and	and	CCONJ
asfbr-5	66	39	money	money	NOUN
asfbr-5	66	40	supply	supply	NOUN
asfbr-5	66	41	respectively	respectively	ADV
asfbr-5	66	42	.	.	PUNCT
asfbr-5	67	1	rr	rr	PROPN
asfbr-5	67	2	responds	respond	VERB
asfbr-5	67	3	negatively	negatively	ADV
asfbr-5	67	4	and	and	CCONJ
asfbr-5	67	5	significantly	significantly	ADV
asfbr-5	67	6	to	to	ADP
asfbr-5	67	7	current	current	ADJ
asfbr-5	67	8	-	-	PUNCT
asfbr-5	67	9	period	period	NOUN
asfbr-5	67	10	interest	interest	NOUN
asfbr-5	67	11	rate	rate	NOUN
asfbr-5	67	12	;	;	PUNCT
asfbr-5	67	13	it	it	PRON
asfbr-5	67	14	also	also	ADV
asfbr-5	67	15	responds	respond	VERB
asfbr-5	67	16	positively	positively	ADV
asfbr-5	67	17	and	and	CCONJ
asfbr-5	67	18	significantly	significantly	ADV
asfbr-5	67	19	to	to	ADP
asfbr-5	67	20	changes	change	NOUN
asfbr-5	67	21	in	in	ADP
asfbr-5	67	22	oil	oil	NOUN
asfbr-5	67	23	price	price	NOUN
asfbr-5	67	24	,	,	PUNCT
asfbr-5	67	25	two	two	NUM
asfbr-5	67	26	-	-	PUNCT
asfbr-5	67	27	period	period	NOUN
asfbr-5	67	28	lag	lag	NOUN
asfbr-5	67	29	financial	financial	ADJ
asfbr-5	67	30	deepening	deepening	NOUN
asfbr-5	67	31	also	also	ADV
asfbr-5	67	32	showed	show	VERB
asfbr-5	67	33	a	a	DET
asfbr-5	67	34	positive	positive	ADJ
asfbr-5	67	35	and	and	CCONJ
asfbr-5	67	36	significant	significant	ADJ
asfbr-5	67	37	influence	influence	NOUN
asfbr-5	67	38	on	on	ADP
asfbr-5	67	39	rr	rr	PROPN
asfbr-5	67	40	,	,	PUNCT
asfbr-5	67	41	real	real	ADJ
asfbr-5	67	42	gdp	gdp	NOUN
asfbr-5	67	43	growth	growth	NOUN
asfbr-5	67	44	appeared	appear	VERB
asfbr-5	67	45	positive	positive	ADJ
asfbr-5	67	46	and	and	CCONJ
asfbr-5	67	47	significant	significant	ADJ
asfbr-5	67	48	,	,	PUNCT
asfbr-5	67	49	exchange	exchange	NOUN
asfbr-5	67	50	rate	rate	NOUN
asfbr-5	67	51	appeared	appear	VERB
asfbr-5	67	52	positive	positive	ADJ
asfbr-5	67	53	at	at	ADP
asfbr-5	67	54	current	current	ADJ
asfbr-5	67	55	period	period	NOUN
asfbr-5	67	56	and	and	CCONJ
asfbr-5	67	57	lag	lag	VERB
asfbr-5	67	58	two	two	NUM
asfbr-5	67	59	-	-	PUNCT
asfbr-5	67	60	period	period	NOUN
asfbr-5	67	61	,	,	PUNCT
asfbr-5	67	62	though	though	SCONJ
asfbr-5	67	63	significant	significant	ADJ
asfbr-5	67	64	only	only	ADV
asfbr-5	67	65	at	at	ADP
asfbr-5	67	66	lag	lag	NOUN
asfbr-5	67	67	two	two	NUM
asfbr-5	67	68	,	,	PUNCT
asfbr-5	67	69	while	while	SCONJ
asfbr-5	67	70	money	money	NOUN
asfbr-5	67	71	supply	supply	NOUN
asfbr-5	67	72	appeared	appear	VERB
asfbr-5	67	73	with	with	ADP
asfbr-5	67	74	a	a	DET
asfbr-5	67	75	positive	positive	ADJ
asfbr-5	67	76	and	and	CCONJ
asfbr-5	67	77	significant	significant	ADJ
asfbr-5	67	78	sign	sign	NOUN
asfbr-5	67	79	at	at	ADP
asfbr-5	67	80	current	current	ADJ
asfbr-5	67	81	period	period	NOUN
asfbr-5	67	82	and	and	CCONJ
asfbr-5	67	83	lag	lag	NOUN
asfbr-5	67	84	-	-	PUNCT
asfbr-5	67	85	one	one	NUM
asfbr-5	67	86	period	period	NOUN
asfbr-5	67	87	respectively	respectively	ADV
asfbr-5	67	88	,	,	PUNCT
asfbr-5	67	89	this	this	PRON
asfbr-5	67	90	confirms	confirm	VERB
asfbr-5	67	91	the	the	DET
asfbr-5	67	92	economic	economic	ADJ
asfbr-5	67	93	believe	believe	VERB
asfbr-5	67	94	that	that	SCONJ
asfbr-5	67	95	the	the	DET
asfbr-5	67	96	dependence	dependence	NOUN
asfbr-5	67	97	of	of	ADP
asfbr-5	67	98	a	a	DET
asfbr-5	67	99	variable	variable	NOUN
asfbr-5	67	100	on	on	ADP
asfbr-5	67	101	another	another	PRON
asfbr-5	67	102	is	be	AUX
asfbr-5	67	103	rarely	rarely	ADV
asfbr-5	67	104	instantaneous	instantaneous	ADJ
asfbr-5	67	105	,	,	PUNCT
asfbr-5	67	106	but	but	CCONJ
asfbr-5	67	107	responds	respond	VERB
asfbr-5	67	108	with	with	ADP
asfbr-5	67	109	a	a	DET
asfbr-5	67	110	lapse	lapse	NOUN
asfbr-5	67	111	of	of	ADP
asfbr-5	67	112	time	time	NOUN
asfbr-5	67	113	(	(	PUNCT
asfbr-5	67	114	gujarati	gujarati	PROPN
asfbr-5	67	115	,	,	PUNCT
asfbr-5	67	116	2004	2004	NUM
asfbr-5	67	117	)	)	PUNCT
asfbr-5	67	118	.	.	PUNCT
asfbr-5	68	1	this	this	PRON
asfbr-5	68	2	is	be	AUX
asfbr-5	68	3	an	an	DET
asfbr-5	68	4	indication	indication	NOUN
asfbr-5	68	5	that	that	SCONJ
asfbr-5	68	6	certain	certain	ADJ
asfbr-5	68	7	economic	economic	ADJ
asfbr-5	68	8	indices	index	NOUN
asfbr-5	68	9	do	do	AUX
asfbr-5	68	10	not	not	PART
asfbr-5	68	11	reflect	reflect	VERB
asfbr-5	68	12	in	in	ADP
asfbr-5	68	13	dividend	dividend	NOUN
asfbr-5	68	14	policy	policy	NOUN
asfbr-5	68	15	,	,	PUNCT
asfbr-5	68	16	and	and	CCONJ
asfbr-5	68	17	economic	economic	ADJ
asfbr-5	68	18	policies	policy	NOUN
asfbr-5	68	19	are	be	AUX
asfbr-5	68	20	not	not	PART
asfbr-5	68	21	satisfactorily	satisfactorily	ADV
asfbr-5	68	22	used	use	VERB
asfbr-5	68	23	in	in	ADP
asfbr-5	68	24	the	the	DET
asfbr-5	68	25	direction	direction	NOUN
asfbr-5	68	26	of	of	ADP
asfbr-5	68	27	increasing	increase	VERB
asfbr-5	68	28	shareholders	shareholder	NOUN
asfbr-5	68	29	returns	return	NOUN
asfbr-5	68	30	.	.	PUNCT
asfbr-5	69	1	this	this	DET
asfbr-5	69	2	finding	finding	NOUN
asfbr-5	69	3	may	may	AUX
asfbr-5	69	4	not	not	PART
asfbr-5	69	5	be	be	AUX
asfbr-5	69	6	unconnected	unconnected	ADJ
asfbr-5	69	7	with	with	ADP
asfbr-5	69	8	the	the	DET
asfbr-5	69	9	lack	lack	NOUN
asfbr-5	69	10	of	of	ADP
asfbr-5	69	11	prudence	prudence	NOUN
asfbr-5	69	12	in	in	ADP
asfbr-5	69	13	the	the	DET
asfbr-5	69	14	utilization	utilization	NOUN
asfbr-5	69	15	of	of	ADP
asfbr-5	69	16	dividends	dividend	NOUN
asfbr-5	69	17	.	.	PUNCT
asfbr-5	70	1	in	in	ADP
asfbr-5	70	2	sum	sum	NOUN
asfbr-5	70	3	,	,	PUNCT
asfbr-5	70	4	the	the	DET
asfbr-5	70	5	result	result	NOUN
asfbr-5	70	6	reveals	reveal	VERB
asfbr-5	70	7	that	that	SCONJ
asfbr-5	70	8	dividend	dividend	NOUN
asfbr-5	70	9	policy	policy	NOUN
asfbr-5	70	10	indices	index	NOUN
asfbr-5	70	11	in	in	ADP
asfbr-5	70	12	the	the	DET
asfbr-5	70	13	period	period	NOUN
asfbr-5	70	14	under	under	ADP
asfbr-5	70	15	review	review	NOUN
asfbr-5	70	16	in	in	ADP
asfbr-5	70	17	nigeria	nigeria	PROPN
asfbr-5	70	18	does	do	AUX
asfbr-5	70	19	adjust	adjust	VERB
asfbr-5	70	20	fairly	fairly	ADV
asfbr-5	70	21	to	to	ADP
asfbr-5	70	22	changes	change	NOUN
asfbr-5	70	23	in	in	ADP
asfbr-5	70	24	macroeconomic	macroeconomic	ADJ
asfbr-5	70	25	variables	variable	NOUN
asfbr-5	70	26	.	.	PUNCT
asfbr-5	71	1	test	test	NOUN
asfbr-5	71	2	for	for	ADP
asfbr-5	71	3	serial	serial	ADJ
asfbr-5	71	4	correlation	correlation	NOUN
asfbr-5	71	5	in	in	ADP
asfbr-5	71	6	essence	essence	NOUN
asfbr-5	71	7	,	,	PUNCT
asfbr-5	71	8	we	we	PRON
asfbr-5	71	9	employed	employ	VERB
asfbr-5	71	10	the	the	DET
asfbr-5	71	11	durbin	durbin	NOUN
asfbr-5	71	12	-	-	PUNCT
asfbr-5	71	13	watson	watson	NOUN
asfbr-5	71	14	(	(	PUNCT
asfbr-5	71	15	dw	dw	NOUN
asfbr-5	71	16	)	)	PUNCT
asfbr-5	71	17	test	test	NOUN
asfbr-5	71	18	for	for	ADP
asfbr-5	71	19	autocorrelation	autocorrelation	NOUN
asfbr-5	71	20	,	,	PUNCT
asfbr-5	71	21	it	it	PRON
asfbr-5	71	22	is	be	AUX
asfbr-5	71	23	based	base	VERB
asfbr-5	71	24	on	on	ADP
asfbr-5	71	25	the	the	DET
asfbr-5	71	26	assumption	assumption	NOUN
asfbr-5	71	27	underlying	underlie	VERB
asfbr-5	71	28	the	the	DET
asfbr-5	71	29	ordinary	ordinary	ADJ
asfbr-5	71	30	least	least	ADJ
asfbr-5	71	31	squares	square	NOUN
asfbr-5	71	32	(	(	PUNCT
asfbr-5	71	33	ols	ol	NOUN
asfbr-5	71	34	)	)	PUNCT
asfbr-5	71	35	,	,	PUNCT
asfbr-5	71	36	that	that	SCONJ
asfbr-5	71	37	the	the	DET
asfbr-5	71	38	error	error	NOUN
asfbr-5	71	39	term	term	NOUN
asfbr-5	71	40	(	(	PUNCT
asfbr-5	71	41	μ	μ	NOUN
asfbr-5	71	42	)	)	PUNCT
asfbr-5	71	43	is	be	AUX
asfbr-5	71	44	assumed	assume	VERB
asfbr-5	71	45	to	to	PART
asfbr-5	71	46	be	be	AUX
asfbr-5	71	47	uncorrelated	uncorrelate	VERB
asfbr-5	71	48	.	.	PUNCT
asfbr-5	72	1	the	the	DET
asfbr-5	72	2	breusch	breusch	VERB
asfbr-5	72	3	-	-	PUNCT
asfbr-5	72	4	godfrey	godfrey	PROPN
asfbr-5	72	5	test	test	NOUN
asfbr-5	72	6	shows	show	VERB
asfbr-5	72	7	evidence	evidence	NOUN
asfbr-5	72	8	that	that	SCONJ
asfbr-5	72	9	the	the	DET
asfbr-5	72	10	residuals	residual	NOUN
asfbr-5	72	11	are	be	AUX
asfbr-5	72	12	uncorrelated	uncorrelated	ADJ
asfbr-5	72	13	.	.	PUNCT
asfbr-5	73	1	4.1	4.1	NUM
asfbr-5	73	2	test	test	NOUN
asfbr-5	73	3	for	for	ADP
asfbr-5	73	4	perfect	perfect	ADJ
asfbr-5	73	5	multicollinearity	multicollinearity	NOUN
asfbr-5	73	6	table	table	NOUN
asfbr-5	73	7	2	2	NUM
asfbr-5	73	8	:	:	PUNCT
asfbr-5	73	9	test	test	NOUN
asfbr-5	73	10	for	for	ADP
asfbr-5	73	11	multicollinearity	multicollinearity	NOUN
asfbr-5	73	12	intr	intr	PROPN
asfbr-5	73	13	oip	oip	PROPN
asfbr-5	73	14	cd	cd	PROPN
asfbr-5	73	15	fd	fd	PROPN
asfbr-5	73	16	infr	infr	PROPN
asfbr-5	73	17	rgdp	rgdp	PROPN
asfbr-5	73	18	exr	exr	PROPN
asfbr-5	73	19	mos	mos	PROPN
asfbr-5	73	20	intr	intr	PROPN
asfbr-5	73	21	 	 	SPACE
asfbr-5	73	22	1.000000	1.000000	NUM
asfbr-5	73	23	oip	oip	PROPN
asfbr-5	73	24	-0.076909	-0.076909	NOUN
asfbr-5	73	25	 	 	SPACE
asfbr-5	73	26	1.000000	1.000000	NUM
asfbr-5	73	27	cd	cd	PROPN
asfbr-5	73	28	-0.018704	-0.018704	VERB
asfbr-5	73	29	-0.389686	-0.389686	PUNCT
asfbr-5	73	30	 	 	SPACE
asfbr-5	74	1	1.000000	1.000000	NUM
asfbr-5	74	2	fd	fd	PROPN
asfbr-5	74	3	 	 	SPACE
asfbr-5	74	4	0.042121	0.042121	NUM
asfbr-5	74	5	-0.356406	-0.356406	PROPN
asfbr-5	74	6	 	 	SPACE
asfbr-5	74	7	0.642279	0.642279	NUM
asfbr-5	74	8	 	 	SPACE
asfbr-5	74	9	1.000000	1.000000	NUM
asfbr-5	74	10	infr	infr	PROPN
asfbr-5	74	11	 	 	SPACE
asfbr-5	74	12	0.026434	0.026434	NUM
asfbr-5	74	13	 	 	SPACE
asfbr-5	74	14	0.095067	0.095067	NUM
asfbr-5	74	15	-0.315252	-0.315252	PROPN
asfbr-5	74	16	-0.361966	-0.361966	PROPN
asfbr-5	74	17	 	 	SPACE
asfbr-5	74	18	1.000000	1.000000	NUM
asfbr-5	74	19	rgdp	rgdp	NOUN
asfbr-5	74	20	 	 	SPACE
asfbr-5	74	21	0.077516	0.077516	NUM
asfbr-5	74	22	 	 	SPACE
asfbr-5	74	23	0.115997	0.115997	NUM
asfbr-5	74	24	 	 	SPACE
asfbr-5	74	25	0.391266	0.391266	NUM
asfbr-5	74	26	 	 	SPACE
asfbr-5	74	27	0.349791	0.349791	NUM
asfbr-5	74	28	-0.206831	-0.206831	PUNCT
asfbr-5	74	29	 	 	SPACE
asfbr-5	74	30	1.000000	1.000000	NUM
asfbr-5	74	31	exr	exr	PROPN
asfbr-5	74	32	 	 	SPACE
asfbr-5	74	33	0.306915	0.306915	NUM
asfbr-5	74	34	-0.370523	-0.370523	NOUN
asfbr-5	74	35	 	 	SPACE
asfbr-5	74	36	0.753070	0.753070	NUM
asfbr-5	74	37	 	 	SPACE
asfbr-5	74	38	0.577952	0.577952	NUM
asfbr-5	74	39	-0.228009	-0.228009	X
asfbr-5	74	40	 	 	SPACE
asfbr-5	74	41	0.421499	0.421499	NUM
asfbr-5	74	42	 	 	SPACE
asfbr-5	74	43	1.000000	1.000000	NUM
asfbr-5	74	44	mos	mos	NOUN
asfbr-5	74	45	 	 	SPACE
asfbr-5	74	46	0.362128	0.362128	NUM
asfbr-5	74	47	 	 	SPACE
asfbr-5	74	48	0.113533	0.113533	NUM
asfbr-5	74	49	 	 	SPACE
asfbr-5	74	50	0.112204	0.112204	NUM
asfbr-5	74	51	-0.009332	-0.009332	NOUN
asfbr-5	74	52	-0.120845	-0.120845	NOUN
asfbr-5	74	53	-0.168355	-0.168355	PUNCT
asfbr-5	74	54	 	 	SPACE
asfbr-5	74	55	0.018838	0.018838	NUM
asfbr-5	74	56	 	 	SPACE
asfbr-5	74	57	1.000000	1.000000	NUM
asfbr-5	74	58	source	source	NOUN
asfbr-5	74	59	:	:	PUNCT
asfbr-5	74	60	author	author	NOUN
asfbr-5	74	61	’s	’s	PART
asfbr-5	74	62	computation	computation	NOUN
asfbr-5	74	63	using	use	VERB
asfbr-5	74	64	eviews	eviews	PROPN
asfbr-5	74	65	9	9	NUM
asfbr-5	74	66	software	software	NOUN
asfbr-5	74	67	from	from	ADP
asfbr-5	74	68	the	the	DET
asfbr-5	74	69	table	table	NOUN
asfbr-5	74	70	2	2	NUM
asfbr-5	74	71	,	,	PUNCT
asfbr-5	74	72	apart	apart	ADV
asfbr-5	74	73	from	from	ADP
asfbr-5	74	74	the	the	DET
asfbr-5	74	75	diagonal	diagonal	NOUN
asfbr-5	74	76	,	,	PUNCT
asfbr-5	74	77	the	the	DET
asfbr-5	74	78	correlation	correlation	NOUN
asfbr-5	74	79	between	between	ADP
asfbr-5	74	80	variables	variable	NOUN
asfbr-5	74	81	is	be	AUX
asfbr-5	74	82	not	not	PART
asfbr-5	74	83	unity	unity	NOUN
asfbr-5	74	84	;	;	PUNCT
asfbr-5	74	85	this	this	PRON
asfbr-5	74	86	implies	imply	VERB
asfbr-5	74	87	that	that	SCONJ
asfbr-5	74	88	the	the	DET
asfbr-5	74	89	explanatory	explanatory	ADJ
asfbr-5	74	90	variables	variable	NOUN
asfbr-5	74	91	have	have	VERB
asfbr-5	74	92	no	no	DET
asfbr-5	74	93	exact	exact	ADJ
asfbr-5	74	94	or	or	CCONJ
asfbr-5	74	95	perfect	perfect	ADJ
asfbr-5	74	96	relationship	relationship	NOUN
asfbr-5	74	97	.	.	PUNCT
asfbr-5	75	1	4.2	4.2	NUM
asfbr-5	75	2	test	test	NOUN
asfbr-5	75	3	for	for	ADP
asfbr-5	75	4	model	model	NOUN
asfbr-5	75	5	stability	stability	NOUN
asfbr-5	75	6	figure	figure	NOUN
asfbr-5	75	7	1	1	NUM
asfbr-5	75	8	:	:	PUNCT
asfbr-5	75	9	model	model	NOUN
asfbr-5	75	10	stability	stability	NOUN
asfbr-5	75	11	test	test	NOUN
asfbr-5	75	12	for	for	ADP
asfbr-5	75	13	retention	retention	NOUN
asfbr-5	75	14	ratio	ratio	NOUN
asfbr-5	75	15	model	model	NOUN
asfbr-5	75	16	the	the	DET
asfbr-5	75	17	cusum	cusum	NOUN
asfbr-5	75	18	tests	test	NOUN
asfbr-5	75	19	are	be	AUX
asfbr-5	75	20	used	use	VERB
asfbr-5	75	21	in	in	ADP
asfbr-5	75	22	this	this	DET
asfbr-5	75	23	study	study	NOUN
asfbr-5	75	24	to	to	PART
asfbr-5	75	25	test	test	VERB
asfbr-5	75	26	for	for	ADP
asfbr-5	75	27	parameter	parameter	NOUN
asfbr-5	75	28	stability	stability	NOUN
asfbr-5	75	29	,	,	PUNCT
asfbr-5	75	30	our	our	PRON
asfbr-5	75	31	graph	graph	NOUN
asfbr-5	75	32	shows	show	VERB
asfbr-5	75	33	that	that	SCONJ
asfbr-5	75	34	the	the	DET
asfbr-5	75	35	plots	plot	NOUN
asfbr-5	75	36	of	of	ADP
asfbr-5	75	37	the	the	DET
asfbr-5	75	38	residuals	residual	NOUN
asfbr-5	75	39	remain	remain	VERB
asfbr-5	75	40	within	within	ADP
asfbr-5	75	41	the	the	DET
asfbr-5	75	42	5	5	NUM
asfbr-5	75	43	%	%	NOUN
asfbr-5	75	44	critical	critical	ADJ
asfbr-5	75	45	bounds	bound	NOUN
asfbr-5	75	46	,	,	PUNCT
asfbr-5	75	47	therefore	therefore	ADV
asfbr-5	75	48	,	,	PUNCT
asfbr-5	75	49	we	we	PRON
asfbr-5	75	50	can	can	AUX
asfbr-5	75	51	accept	accept	VERB
asfbr-5	75	52	that	that	SCONJ
asfbr-5	75	53	the	the	DET
asfbr-5	75	54	parameters	parameter	NOUN
asfbr-5	75	55	of	of	ADP
asfbr-5	75	56	the	the	DET
asfbr-5	75	57	model	model	NOUN
asfbr-5	75	58	are	be	AUX
asfbr-5	75	59	stable	stable	ADJ
asfbr-5	75	60	.	.	PUNCT
asfbr-5	76	1	4.3	4.3	NUM
asfbr-5	76	2	test	test	NOUN
asfbr-5	76	3	for	for	ADP
asfbr-5	76	4	residual	residual	ADJ
asfbr-5	76	5	normality	normality	NOUN
asfbr-5	76	6	the	the	DET
asfbr-5	76	7	jarque	jarque	NOUN
asfbr-5	76	8	-	-	PUNCT
asfbr-5	76	9	bera	bera	NOUN
asfbr-5	76	10	(	(	PUNCT
asfbr-5	76	11	jb	jb	PROPN
asfbr-5	76	12	)	)	PUNCT
asfbr-5	76	13	test	test	NOUN
asfbr-5	76	14	of	of	ADP
asfbr-5	76	15	normality	normality	NOUN
asfbr-5	76	16	is	be	AUX
asfbr-5	76	17	adopted	adopt	VERB
asfbr-5	76	18	in	in	ADP
asfbr-5	76	19	this	this	DET
asfbr-5	76	20	study	study	NOUN
asfbr-5	76	21	,	,	PUNCT
asfbr-5	76	22	purely	purely	ADV
asfbr-5	76	23	to	to	PART
asfbr-5	76	24	verify	verify	VERB
asfbr-5	76	25	whether	whether	SCONJ
asfbr-5	76	26	the	the	DET
asfbr-5	76	27	residuals	residual	NOUN
asfbr-5	76	28	are	be	AUX
asfbr-5	76	29	normally	normally	ADV
asfbr-5	76	30	distributed	distribute	VERB
asfbr-5	76	31	.	.	PUNCT
asfbr-5	77	1	it	it	PRON
asfbr-5	77	2	is	be	AUX
asfbr-5	77	3	conducted	conduct	VERB
asfbr-5	77	4	under	under	ADP
asfbr-5	77	5	the	the	DET
asfbr-5	77	6	null	null	ADJ
asfbr-5	77	7	hypothesis	hypothesis	NOUN
asfbr-5	77	8	that	that	SCONJ
asfbr-5	77	9	the	the	DET
asfbr-5	77	10	residuals	residual	NOUN
asfbr-5	77	11	are	be	AUX
asfbr-5	77	12	not	not	PART
asfbr-5	77	13	normally	normally	ADV
asfbr-5	77	14	distributed	distribute	VERB
asfbr-5	77	15	.	.	PUNCT
asfbr-5	78	1	from	from	ADP
asfbr-5	78	2	illustration	illustration	NOUN
asfbr-5	78	3	below	below	ADV
asfbr-5	78	4	;	;	PUNCT
asfbr-5	78	5	the	the	DET
asfbr-5	78	6	computed	compute	VERB
asfbr-5	78	7	ρ	ρ	NOUN
asfbr-5	78	8	value	value	NOUN
asfbr-5	78	9	of	of	ADP
asfbr-5	78	10	the	the	DET
asfbr-5	78	11	jb	jb	PROPN
asfbr-5	78	12	statistic	statistic	PROPN
asfbr-5	78	13	(	(	PUNCT
asfbr-5	78	14	0.100786	0.100786	NUM
asfbr-5	78	15	)	)	PUNCT
asfbr-5	78	16	under	under	ADP
asfbr-5	78	17	the	the	DET
asfbr-5	78	18	normality	normality	NOUN
asfbr-5	78	19	assumption	assumption	NOUN
asfbr-5	78	20	,	,	PUNCT
asfbr-5	78	21	we	we	PRON
asfbr-5	78	22	,	,	PUNCT
asfbr-5	78	23	therefore	therefore	ADV
asfbr-5	78	24	,	,	PUNCT
asfbr-5	78	25	reject	reject	VERB
asfbr-5	78	26	the	the	DET
asfbr-5	78	27	hypothesis	hypothesis	NOUN
asfbr-5	78	28	that	that	PRON
asfbr-5	78	29	the	the	DET
asfbr-5	78	30	error	error	NOUN
asfbr-5	78	31	terms	term	NOUN
asfbr-5	78	32	are	be	AUX
asfbr-5	78	33	not	not	PART
asfbr-5	78	34	normally	normally	ADV
asfbr-5	78	35	distributed	distribute	VERB
asfbr-5	78	36	.	.	PUNCT
asfbr-5	79	1	the	the	DET
asfbr-5	79	2	diagram	diagram	NOUN
asfbr-5	79	3	below	below	ADV
asfbr-5	79	4	shows	show	VERB
asfbr-5	79	5	that	that	SCONJ
asfbr-5	79	6	the	the	DET
asfbr-5	79	7	residuals	residual	NOUN
asfbr-5	79	8	from	from	ADP
asfbr-5	79	9	the	the	DET
asfbr-5	79	10	regression	regression	NOUN
asfbr-5	79	11	seem	seem	VERB
asfbr-5	79	12	to	to	PART
asfbr-5	79	13	be	be	AUX
asfbr-5	79	14	symmetrically	symmetrically	ADV
asfbr-5	79	15	distributed	distribute	VERB
asfbr-5	79	16	.	.	PUNCT
asfbr-5	80	1	figure	figure	NOUN
asfbr-5	80	2	2	2	NUM
asfbr-5	80	3	:	:	PUNCT
asfbr-5	80	4	normality	normality	NOUN
asfbr-5	80	5	test	test	NOUN
asfbr-5	80	6	for	for	ADP
asfbr-5	80	7	retention	retention	NOUN
asfbr-5	80	8	ratio	ratio	NOUN
asfbr-5	80	9	model	model	NOUN
asfbr-5	80	10	4.4	4.4	NUM
asfbr-5	80	11	test	test	NOUN
asfbr-5	80	12	for	for	ADP
asfbr-5	80	13	heteroscedasticity	heteroscedasticity	NOUN
asfbr-5	80	14	table	table	NOUN
asfbr-5	80	15	3	3	NUM
asfbr-5	80	16	:	:	PUNCT
asfbr-5	80	17	test	test	NOUN
asfbr-5	80	18	for	for	ADP
asfbr-5	80	19	heteroscedasticity	heteroscedasticity	NOUN
asfbr-5	80	20	heteroscedasticity	heteroscedasticity	PROPN
asfbr-5	80	21	test	test	NOUN
asfbr-5	80	22	for	for	ADP
asfbr-5	80	23	retention	retention	NOUN
asfbr-5	80	24	ratio	ratio	NOUN
asfbr-5	80	25	f	f	NOUN
asfbr-5	80	26	-	-	PUNCT
asfbr-5	80	27	statistic	statistic	NOUN
asfbr-5	80	28	0.550246	0.550246	NUM
asfbr-5	80	29	probability	probability	NOUN
asfbr-5	80	30	0.8792	0.8792	NUM
asfbr-5	80	31	obs*r	obs*r	NOUN
asfbr-5	80	32	-	-	PUNCT
asfbr-5	80	33	squared	square	VERB
asfbr-5	80	34	12.81713	12.81713	NUM
asfbr-5	80	35	probability	probability	NOUN
asfbr-5	80	36	0.7483	0.7483	NUM
asfbr-5	80	37	source	source	NOUN
asfbr-5	80	38	:	:	PUNCT
asfbr-5	80	39	author	author	NOUN
asfbr-5	80	40	’s	’s	PART
asfbr-5	80	41	computation	computation	NOUN
asfbr-5	80	42	this	this	DET
asfbr-5	80	43	test	test	NOUN
asfbr-5	80	44	is	be	AUX
asfbr-5	80	45	conducted	conduct	VERB
asfbr-5	80	46	using	use	VERB
asfbr-5	80	47	white	white	PROPN
asfbr-5	80	48	’s	’s	PART
asfbr-5	80	49	test	test	NOUN
asfbr-5	80	50	,	,	PUNCT
asfbr-5	80	51	which	which	PRON
asfbr-5	80	52	involves	involve	VERB
asfbr-5	80	53	either	either	CCONJ
asfbr-5	80	54	an	an	DET
asfbr-5	80	55	auxiliary	auxiliary	ADJ
asfbr-5	80	56	regression	regression	NOUN
asfbr-5	80	57	with	with	ADP
asfbr-5	80	58	no	no	DET
asfbr-5	80	59	cross	cross	NOUN
asfbr-5	80	60	-	-	NOUN
asfbr-5	80	61	terms	term	NOUN
asfbr-5	80	62	or	or	CCONJ
asfbr-5	80	63	with	with	ADP
asfbr-5	80	64	cross	cross	NOUN
asfbr-5	80	65	terms	term	NOUN
asfbr-5	80	66	.	.	PUNCT
asfbr-5	81	1	it	it	PRON
asfbr-5	81	2	also	also	ADV
asfbr-5	81	3	follows	follow	VERB
asfbr-5	81	4	the	the	DET
asfbr-5	81	5	f	f	NOUN
asfbr-5	81	6	-	-	PUNCT
asfbr-5	81	7	distribution	distribution	NOUN
asfbr-5	81	8	,	,	PUNCT
asfbr-5	81	9	from	from	ADP
asfbr-5	81	10	the	the	DET
asfbr-5	81	11	table	table	NOUN
asfbr-5	81	12	3	3	NUM
asfbr-5	81	13	,	,	PUNCT
asfbr-5	81	14	since	since	SCONJ
asfbr-5	81	15	the	the	DET
asfbr-5	81	16	ρrobability	ρrobability	NOUN
asfbr-5	81	17	of	of	ADP
asfbr-5	81	18	f	f	NOUN
asfbr-5	81	19	-	-	PUNCT
asfbr-5	81	20	value	value	NOUN
asfbr-5	81	21	0.8792	0.8792	NUM
asfbr-5	81	22	for	for	ADP
asfbr-5	81	23	retention	retention	NOUN
asfbr-5	81	24	ratio	ratio	NOUN
asfbr-5	81	25	is	be	AUX
asfbr-5	81	26	not	not	PART
asfbr-5	81	27	significant	significant	ADJ
asfbr-5	81	28	,	,	PUNCT
asfbr-5	81	29	we	we	PRON
asfbr-5	81	30	,	,	PUNCT
asfbr-5	81	31	therefore	therefore	ADV
asfbr-5	81	32	,	,	PUNCT
asfbr-5	81	33	conclude	conclude	VERB
asfbr-5	81	34	that	that	SCONJ
asfbr-5	81	35	there	there	PRON
asfbr-5	81	36	is	be	VERB
asfbr-5	81	37	homoscedasticity	homoscedasticity	NOUN
asfbr-5	81	38	,	,	PUNCT
asfbr-5	81	39	that	that	PRON
asfbr-5	81	40	is	be	AUX
asfbr-5	81	41	to	to	PART
asfbr-5	81	42	say	say	VERB
asfbr-5	81	43	,	,	PUNCT
asfbr-5	81	44	the	the	DET
asfbr-5	81	45	variances	variance	NOUN
asfbr-5	81	46	are	be	AUX
asfbr-5	81	47	equal	equal	ADJ
asfbr-5	81	48	.	.	PUNCT
asfbr-5	82	1	4.5	4.5	NUM
asfbr-5	82	2	unit	unit	NOUN
asfbr-5	82	3	root	root	PROPN
asfbr-5	82	4	stationarity	stationarity	NOUN
asfbr-5	82	5	test	test	NOUN
asfbr-5	82	6	table	table	NOUN
asfbr-5	82	7	4	4	NUM
asfbr-5	82	8	:	:	PUNCT
asfbr-5	82	9	unit	unit	NOUN
asfbr-5	82	10	root	root	PROPN
asfbr-5	82	11	stationarity	stationarity	PROPN
asfbr-5	82	12	test	test	NOUN
asfbr-5	82	13	a	a	DET
asfbr-5	82	14	time	time	NOUN
asfbr-5	82	15	series	series	PROPN
asfbr-5	82	16	yt	yt	PROPN
asfbr-5	82	17	is	be	AUX
asfbr-5	82	18	integrated	integrate	VERB
asfbr-5	82	19	of	of	ADP
asfbr-5	82	20	order	order	NOUN
asfbr-5	82	21	d	d	NOUN
asfbr-5	82	22	,	,	PUNCT
asfbr-5	82	23	denoted	denote	VERB
asfbr-5	82	24	i(d	i(d	NOUN
asfbr-5	82	25	)	)	PUNCT
asfbr-5	82	26	if	if	SCONJ
asfbr-5	82	27	∆dyt	∆dyt	PROPN
asfbr-5	82	28	is	be	AUX
asfbr-5	82	29	stationary	stationary	ADJ
asfbr-5	82	30	.	.	PUNCT
asfbr-5	83	1	then	then	ADV
asfbr-5	83	2	the	the	DET
asfbr-5	83	3	series	series	NOUN
asfbr-5	83	4	yt	yt	PROPN
asfbr-5	83	5	has	have	VERB
asfbr-5	83	6	d	d	PROPN
asfbr-5	83	7	unit	unit	NOUN
asfbr-5	83	8	roots.to	roots.to	PRON
asfbr-5	83	9	further	far	ADV
asfbr-5	83	10	ascertain	ascertain	VERB
asfbr-5	83	11	the	the	DET
asfbr-5	83	12	the	the	DET
asfbr-5	83	13	stationarity	stationarity	NOUN
asfbr-5	83	14	of	of	ADP
asfbr-5	83	15	the	the	DET
asfbr-5	83	16	data	datum	NOUN
asfbr-5	83	17	series	series	NOUN
asfbr-5	83	18	,	,	PUNCT
asfbr-5	83	19	hence	hence	ADV
asfbr-5	83	20	;	;	PUNCT
asfbr-5	83	21	table	table	NOUN
asfbr-5	83	22	4	4	NUM
asfbr-5	83	23	:	:	PUNCT
asfbr-5	83	24	augmented	augment	VERB
asfbr-5	83	25	dickey	dickey	NOUN
asfbr-5	83	26	-	-	PUNCT
asfbr-5	83	27	fuller	full	ADJ
asfbr-5	83	28	(	(	PUNCT
asfbr-5	83	29	adf	adf	NOUN
asfbr-5	83	30	)	)	PUNCT
asfbr-5	83	31	unit	unit	NOUN
asfbr-5	83	32	root	root	NOUN
asfbr-5	83	33	test	test	NOUN
asfbr-5	83	34	of	of	ADP
asfbr-5	83	35	stationarity	stationarity	NOUN
asfbr-5	83	36	results	result	NOUN
asfbr-5	83	37	test	test	NOUN
asfbr-5	83	38	variables	variable	NOUN
asfbr-5	83	39	levels	level	VERB
asfbr-5	83	40	differences	difference	NOUN
asfbr-5	83	41	order	order	NOUN
asfbr-5	83	42	of	of	ADP
asfbr-5	83	43	integration	integration	NOUN
asfbr-5	83	44	tstatistic	tstatistic	ADJ
asfbr-5	83	45	critical	critical	ADJ
asfbr-5	83	46	tstatistic	tstatistic	ADJ
asfbr-5	83	47	critical	critical	ADJ
asfbr-5	83	48	adf	adf	PROPN
asfbr-5	83	49	rr	rr	PROPN
asfbr-5	83	50	-8.904988	-8.904988	NOUN
asfbr-5	83	51	-3.653730	-3.653730	PUNCT
asfbr-5	84	1	i(1	i(1	NOUN
asfbr-5	84	2	)	)	PUNCT
asfbr-5	84	3	intr	intr	PROPN
asfbr-5	84	4	-6.384610	-6.384610	NOUN
asfbr-5	84	5	-3.661661	-3.661661	PUNCT
asfbr-5	85	1	i(1	i(1	PROPN
asfbr-5	85	2	)	)	PUNCT
asfbr-5	85	3	oip	oip	PROPN
asfbr-5	85	4	-5.877960	-5.877960	PROPN
asfbr-5	85	5	-3.646342	-3.646342	PUNCT
asfbr-5	86	1	i(0	i(0	PROPN
asfbr-5	86	2	)	)	PUNCT
asfbr-5	86	3	cd	cd	PROPN
asfbr-5	86	4	-6.677589	-6.677589	NOUN
asfbr-5	86	5	-3.653730	-3.653730	PUNCT
asfbr-5	87	1	i(1	i(1	NOUN
asfbr-5	87	2	)	)	PUNCT
asfbr-5	87	3	fd	fd	PROPN
asfbr-5	87	4	-5.726112	-5.726112	PROPN
asfbr-5	87	5	-3.661661	-3.661661	PUNCT
asfbr-5	87	6	i(1	i(1	PROPN
asfbr-5	87	7	)	)	PUNCT
asfbr-5	87	8	inf	inf	PROPN
asfbr-5	87	9	-5.730629	-5.730629	NOUN
asfbr-5	87	10	-3.670170	-3.670170	PART
asfbr-5	87	11	i(1	i(1	PROPN
asfbr-5	87	12	)	)	PUNCT
asfbr-5	87	13	rgdp	rgdp	NOUN
asfbr-5	87	14	-4.369344	-4.369344	NOUN
asfbr-5	87	15	-3.646342	-3.646342	PROPN
asfbr-5	87	16	i(0	i(0	PROPN
asfbr-5	87	17	)	)	PUNCT
asfbr-5	87	18	exr	exr	PROPN
asfbr-5	87	19	-6.006878	-6.006878	ADJ
asfbr-5	87	20	-3.653730	-3.653730	PUNCT
asfbr-5	87	21	i(1	i(1	PROPN
asfbr-5	87	22	)	)	PUNCT
asfbr-5	87	23	mos	mos	PROPN
asfbr-5	87	24	-7.185088	-7.185088	NOUN
asfbr-5	87	25	-3.653730	-3.653730	PUNCT
asfbr-5	88	1	i(1	i(1	NOUN
asfbr-5	88	2	)	)	PUNCT
asfbr-5	88	3	note	note	NOUN
asfbr-5	88	4	:	:	PUNCT
asfbr-5	88	5	*	*	PUNCT
asfbr-5	88	6	implies	imply	VERB
asfbr-5	88	7	significance	significance	NOUN
asfbr-5	88	8	at	at	ADP
asfbr-5	88	9	1	1	NUM
asfbr-5	88	10	%	%	NOUN
asfbr-5	88	11	source	source	NOUN
asfbr-5	88	12	:	:	PUNCT
asfbr-5	88	13	author	author	NOUN
asfbr-5	88	14	’s	’s	PART
asfbr-5	88	15	computation	computation	NOUN
asfbr-5	88	16	based	base	VERB
asfbr-5	88	17	on	on	ADP
asfbr-5	88	18	data	datum	NOUN
asfbr-5	88	19	from	from	ADP
asfbr-5	88	20	central	central	ADJ
asfbr-5	88	21	bank	bank	PROPN
asfbr-5	88	22	of	of	ADP
asfbr-5	88	23	nigeria	nigeria	PROPN
asfbr-5	88	24	publications	publication	NOUN
asfbr-5	88	25	according	accord	VERB
asfbr-5	88	26	to	to	ADP
asfbr-5	88	27	maddala	maddala	NOUN
asfbr-5	88	28	(	(	PUNCT
asfbr-5	88	29	1992	1992	NUM
asfbr-5	88	30	)	)	PUNCT
asfbr-5	88	31	,	,	PUNCT
asfbr-5	88	32	testing	test	VERB
asfbr-5	88	33	for	for	ADP
asfbr-5	88	34	unit	unit	NOUN
asfbr-5	88	35	roots	root	NOUN
asfbr-5	88	36	is	be	AUX
asfbr-5	88	37	a	a	DET
asfbr-5	88	38	formalization	formalization	NOUN
asfbr-5	88	39	of	of	ADP
asfbr-5	88	40	the	the	DET
asfbr-5	88	41	boxjenkins	boxjenkin	NOUN
asfbr-5	88	42	approach	approach	NOUN
asfbr-5	88	43	of	of	ADP
asfbr-5	88	44	differencing	difference	VERB
asfbr-5	88	45	the	the	DET
asfbr-5	88	46	time	time	NOUN
asfbr-5	88	47	series	series	NOUN
asfbr-5	88	48	after	after	ADP
asfbr-5	88	49	a	a	DET
asfbr-5	88	50	visual	visual	ADJ
asfbr-5	88	51	inspection	inspection	NOUN
asfbr-5	88	52	of	of	ADP
asfbr-5	88	53	correlogram	correlogram	NOUN
asfbr-5	88	54	.	.	PUNCT
asfbr-5	89	1	the	the	DET
asfbr-5	89	2	analyzing	analyzing	NOUN
asfbr-5	89	3	and	and	CCONJ
asfbr-5	89	4	testing	testing	NOUN
asfbr-5	89	5	for	for	ADP
asfbr-5	89	6	unit	unit	NOUN
asfbr-5	89	7	root	root	NOUN
asfbr-5	89	8	naturally	naturally	ADV
asfbr-5	89	9	lead	lead	VERB
asfbr-5	89	10	to	to	ADP
asfbr-5	89	11	the	the	DET
asfbr-5	89	12	theory	theory	NOUN
asfbr-5	89	13	of	of	ADP
asfbr-5	89	14	cointegration	cointegration	NOUN
asfbr-5	89	15	(	(	PUNCT
asfbr-5	89	16	iyoha	iyoha	NOUN
asfbr-5	89	17	and	and	CCONJ
asfbr-5	89	18	ekanem	ekanem	PROPN
asfbr-5	89	19	,	,	PUNCT
asfbr-5	89	20	2002	2002	NUM
asfbr-5	89	21	)	)	PUNCT
asfbr-5	89	22	.	.	PUNCT
asfbr-5	90	1	the	the	DET
asfbr-5	90	2	summarized	summarize	VERB
asfbr-5	90	3	result	result	NOUN
asfbr-5	90	4	presented	present	VERB
asfbr-5	90	5	in	in	ADP
asfbr-5	90	6	table	table	NOUN
asfbr-5	90	7	4	4	NUM
asfbr-5	90	8	shows	show	VERB
asfbr-5	90	9	that	that	SCONJ
asfbr-5	90	10	at	at	ADP
asfbr-5	90	11	various	various	ADJ
asfbr-5	90	12	levels	level	NOUN
asfbr-5	90	13	of	of	ADP
asfbr-5	90	14	significance	significance	NOUN
asfbr-5	90	15	(	(	PUNCT
asfbr-5	90	16	1	1	NUM
asfbr-5	90	17	%	%	NOUN
asfbr-5	90	18	,	,	PUNCT
asfbr-5	90	19	5	5	NUM
asfbr-5	90	20	%	%	NOUN
asfbr-5	90	21	,	,	PUNCT
asfbr-5	90	22	and	and	CCONJ
asfbr-5	90	23	10	10	NUM
asfbr-5	90	24	%	%	NOUN
asfbr-5	90	25	)	)	PUNCT
asfbr-5	90	26	,	,	PUNCT
asfbr-5	90	27	all	all	DET
asfbr-5	90	28	the	the	DET
asfbr-5	90	29	variables	variable	NOUN
asfbr-5	90	30	were	be	AUX
asfbr-5	90	31	stationary	stationary	ADJ
asfbr-5	90	32	,	,	PUNCT
asfbr-5	90	33	specifically	specifically	ADV
asfbr-5	90	34	,	,	PUNCT
asfbr-5	90	35	oip	oip	PROPN
asfbr-5	90	36	and	and	CCONJ
asfbr-5	90	37	rgdp	rgdp	NOUN
asfbr-5	90	38	are	be	AUX
asfbr-5	90	39	integrated	integrate	VERB
asfbr-5	90	40	of	of	ADP
asfbr-5	90	41	order	order	NOUN
asfbr-5	90	42	zero	zero	NUM
asfbr-5	90	43	,	,	PUNCT
asfbr-5	90	44	i(0	i(0	PROPN
asfbr-5	90	45	)	)	PUNCT
asfbr-5	90	46	,	,	PUNCT
asfbr-5	90	47	whereas	whereas	SCONJ
asfbr-5	90	48	rr	rr	PROPN
asfbr-5	90	49	,	,	PUNCT
asfbr-5	90	50	intr	intr	PROPN
asfbr-5	90	51	,	,	PUNCT
asfbr-5	90	52	cd	cd	PROPN
asfbr-5	90	53	,	,	PUNCT
asfbr-5	90	54	fd	fd	PROPN
asfbr-5	90	55	,	,	PUNCT
asfbr-5	90	56	inf	inf	NOUN
asfbr-5	90	57	,	,	PUNCT
asfbr-5	90	58	exr	exr	PROPN
asfbr-5	90	59	,	,	PUNCT
asfbr-5	90	60	and	and	CCONJ
asfbr-5	90	61	mos	mos	PROPN
asfbr-5	90	62	are	be	AUX
asfbr-5	90	63	integrated	integrate	VERB
asfbr-5	90	64	of	of	ADP
asfbr-5	90	65	order	order	NOUN
asfbr-5	90	66	one	one	NUM
asfbr-5	90	67	,	,	PUNCT
asfbr-5	90	68	i(1	i(1	PROPN
asfbr-5	90	69	)	)	PUNCT
asfbr-5	90	70	.	.	PUNCT
asfbr-5	91	1	hence	hence	ADV
asfbr-5	91	2	,	,	PUNCT
asfbr-5	91	3	all	all	DET
asfbr-5	91	4	the	the	DET
asfbr-5	91	5	variable	variable	NOUN
asfbr-5	91	6	in	in	ADP
asfbr-5	91	7	this	this	DET
asfbr-5	91	8	study	study	NOUN
asfbr-5	91	9	is	be	AUX
asfbr-5	91	10	stationary	stationary	ADJ
asfbr-5	91	11	.	.	PUNCT
asfbr-5	92	1	4.6	4.6	NUM
asfbr-5	92	2	ardl	ardl	NOUN
asfbr-5	92	3	bounds	bound	VERB
asfbr-5	92	4	tests	test	NOUN
asfbr-5	92	5	for	for	ADP
asfbr-5	92	6	cointegration	cointegration	NOUN
asfbr-5	92	7	table	table	NOUN
asfbr-5	92	8	5a	5a	NUM
asfbr-5	92	9	:	:	PUNCT
asfbr-5	92	10	bounds	bound	VERB
asfbr-5	92	11	test	test	VERB
asfbr-5	92	12	for	for	ADP
asfbr-5	92	13	cointegration	cointegration	NOUN
asfbr-5	92	14	analysis	analysis	NOUN
asfbr-5	92	15	critical	critical	ADJ
asfbr-5	92	16	value	value	NOUN
asfbr-5	92	17	lower	lower	ADV
asfbr-5	92	18	bound	bind	VERB
asfbr-5	92	19	value	value	NOUN
asfbr-5	92	20	upper	upper	ADJ
asfbr-5	92	21	bound	bind	VERB
asfbr-5	92	22	value	value	NOUN
asfbr-5	92	23	1	1	NUM
asfbr-5	92	24	%	%	NOUN
asfbr-5	92	25	3.15	3.15	NUM
asfbr-5	92	26	4.43	4.43	NUM
asfbr-5	92	27	5	5	NUM
asfbr-5	92	28	%	%	NOUN
asfbr-5	92	29	2.55	2.55	NUM
asfbr-5	92	30	3.68	3.68	NUM
asfbr-5	92	31	10	10	NUM
asfbr-5	92	32	%	%	NOUN
asfbr-5	92	33	2.26	2.26	NUM
asfbr-5	92	34	3.34	3.34	NUM
asfbr-5	92	35	source	source	NOUN
asfbr-5	92	36	:	:	PUNCT
asfbr-5	92	37	pesaran	pesaran	PROPN
asfbr-5	92	38	et	et	PROPN
asfbr-5	92	39	al	al	PROPN
asfbr-5	92	40	.	.	PROPN
asfbr-5	93	1	(	(	PUNCT
asfbr-5	93	2	2001	2001	NUM
asfbr-5	93	3	)	)	PUNCT
asfbr-5	93	4	ardl	ardl	NOUN
asfbr-5	93	5	bounds	bound	NOUN
asfbr-5	93	6	test	test	NOUN
asfbr-5	93	7	test	test	NOUN
asfbr-5	93	8	:	:	PUNCT
asfbr-5	93	9	test	test	NOUN
asfbr-5	93	10	statistic	statistic	PROPN
asfbr-5	93	11	value	value	NOUN
asfbr-5	93	12	   	   	SPACE
asfbr-5	93	13	rr	rr	NOUN
asfbr-5	93	14	equation	equation	NOUN
asfbr-5	93	15	f	f	X
asfbr-5	93	16	-	-	PUNCT
asfbr-5	93	17	statistic	statistic	VERB
asfbr-5	93	18	5.466722	5.466722	NUM
asfbr-5	93	19	table	table	NOUN
asfbr-5	93	20	5b	5b	NUM
asfbr-5	93	21	:	:	PUNCT
asfbr-5	93	22	ardl	ardl	NOUN
asfbr-5	93	23	results	result	NOUN
asfbr-5	93	24	for	for	ADP
asfbr-5	93	25	cointegration	cointegration	NOUN
asfbr-5	93	26	analysis	analysis	NOUN
asfbr-5	93	27	source	source	NOUN
asfbr-5	93	28	:	:	PUNCT
asfbr-5	93	29	author	author	NOUN
asfbr-5	93	30	’s	’s	PART
asfbr-5	93	31	computation	computation	NOUN
asfbr-5	93	32	using	use	VERB
asfbr-5	93	33	eviews	eviews	PROPN
asfbr-5	93	34	software	software	PROPN
asfbr-5	93	35	pesaran	pesaran	VERB
asfbr-5	93	36	and	and	CCONJ
asfbr-5	93	37	shin	shin	PROPN
asfbr-5	93	38	(	(	PUNCT
asfbr-5	93	39	2001	2001	NUM
asfbr-5	93	40	)	)	PUNCT
asfbr-5	93	41	showed	show	VERB
asfbr-5	93	42	that	that	SCONJ
asfbr-5	93	43	cointegrating	cointegrate	VERB
asfbr-5	93	44	systems	system	NOUN
asfbr-5	93	45	can	can	AUX
asfbr-5	93	46	be	be	AUX
asfbr-5	93	47	estimated	estimate	VERB
asfbr-5	93	48	as	as	ADP
asfbr-5	93	49	ardl	ardl	NOUN
asfbr-5	93	50	models	model	NOUN
asfbr-5	93	51	;	;	PUNCT
asfbr-5	93	52	it	it	PRON
asfbr-5	93	53	has	have	VERB
asfbr-5	93	54	the	the	DET
asfbr-5	93	55	advantage	advantage	NOUN
asfbr-5	93	56	to	to	PART
asfbr-5	93	57	estimate	estimate	VERB
asfbr-5	93	58	cointegrating	cointegrate	VERB
asfbr-5	93	59	relationship	relationship	NOUN
asfbr-5	93	60	on	on	ADP
asfbr-5	93	61	variables	variable	NOUN
asfbr-5	93	62	that	that	PRON
asfbr-5	93	63	are	be	AUX
asfbr-5	93	64	either	either	PRON
asfbr-5	93	65	i(0	i(0	PROPN
asfbr-5	93	66	)	)	PUNCT
asfbr-5	93	67	or	or	CCONJ
asfbr-5	93	68	i(1	i(1	NOUN
asfbr-5	93	69	)	)	PUNCT
asfbr-5	93	70	.	.	PUNCT
asfbr-5	94	1	according	accord	VERB
asfbr-5	94	2	to	to	ADP
asfbr-5	94	3	pesaran	pesaran	PROPN
asfbr-5	94	4	et	et	PROPN
asfbr-5	94	5	al	al	PROPN
asfbr-5	94	6	.	.	PROPN
asfbr-5	95	1	(	(	PUNCT
asfbr-5	95	2	2001	2001	NUM
asfbr-5	95	3	)	)	PUNCT
asfbr-5	95	4	,	,	PUNCT
asfbr-5	95	5	the	the	DET
asfbr-5	95	6	asymptotic	asymptotic	ADJ
asfbr-5	95	7	distribution	distribution	NOUN
asfbr-5	95	8	of	of	ADP
asfbr-5	95	9	the	the	DET
asfbr-5	95	10	f	f	NOUN
asfbr-5	95	11	-	-	PUNCT
asfbr-5	95	12	statistic	statistic	NOUN
asfbr-5	95	13	is	be	AUX
asfbr-5	95	14	non	non	ADJ
asfbr-5	95	15	-	-	ADJ
asfbr-5	95	16	standard	standard	ADJ
asfbr-5	95	17	regardless	regardless	ADV
asfbr-5	95	18	of	of	ADP
asfbr-5	95	19	whether	whether	SCONJ
asfbr-5	95	20	the	the	DET
asfbr-5	95	21	regressors	regressor	NOUN
asfbr-5	95	22	are	be	AUX
asfbr-5	95	23	i(0	i(0	PROPN
asfbr-5	95	24	)	)	PUNCT
asfbr-5	95	25	or	or	CCONJ
asfbr-5	95	26	i(1	i(1	NOUN
asfbr-5	95	27	)	)	PUNCT
asfbr-5	95	28	,	,	PUNCT
asfbr-5	95	29	and	and	CCONJ
asfbr-5	95	30	provide	provide	VERB
asfbr-5	95	31	two	two	NUM
asfbr-5	95	32	adjusted	adjust	VERB
asfbr-5	95	33	critical	critical	ADJ
asfbr-5	95	34	values	value	NOUN
asfbr-5	95	35	that	that	PRON
asfbr-5	95	36	establish	establish	VERB
asfbr-5	95	37	lower	low	ADJ
asfbr-5	95	38	and	and	CCONJ
asfbr-5	95	39	upper	upper	ADJ
asfbr-5	95	40	bounds	bound	NOUN
asfbr-5	95	41	of	of	ADP
asfbr-5	95	42	significance	significance	NOUN
asfbr-5	95	43	.	.	PUNCT
asfbr-5	96	1	4.7	4.7	NUM
asfbr-5	96	2	interpretation	interpretation	NOUN
asfbr-5	96	3	given	give	VERB
asfbr-5	96	4	a	a	DET
asfbr-5	96	5	computed	compute	VERB
asfbr-5	96	6	f	f	PROPN
asfbr-5	96	7	statistics	statistic	NOUN
asfbr-5	96	8	value	value	NOUN
asfbr-5	96	9	of	of	ADP
asfbr-5	96	10	5.466722	5.466722	NUM
asfbr-5	96	11	for	for	ADP
asfbr-5	96	12	rr	rr	PROPN
asfbr-5	96	13	equations	equation	NOUN
asfbr-5	96	14	,	,	PUNCT
asfbr-5	96	15	the	the	DET
asfbr-5	96	16	results	result	NOUN
asfbr-5	96	17	of	of	ADP
asfbr-5	96	18	the	the	DET
asfbr-5	96	19	bounds	bound	NOUN
asfbr-5	96	20	co	co	NOUN
asfbr-5	96	21	-	-	NOUN
asfbr-5	96	22	integration	integration	NOUN
asfbr-5	96	23	test	test	NOUN
asfbr-5	96	24	,	,	PUNCT
asfbr-5	96	25	therefore	therefore	ADV
asfbr-5	96	26	,	,	PUNCT
asfbr-5	96	27	establish	establish	VERB
asfbr-5	96	28	that	that	SCONJ
asfbr-5	96	29	the	the	DET
asfbr-5	96	30	null	null	ADJ
asfbr-5	96	31	hypothesis	hypothesis	NOUN
asfbr-5	96	32	against	against	ADP
asfbr-5	96	33	its	its	PRON
asfbr-5	96	34	alternative	alternative	NOUN
asfbr-5	96	35	is	be	AUX
asfbr-5	96	36	rejected	reject	VERB
asfbr-5	96	37	at	at	ADP
asfbr-5	96	38	the	the	DET
asfbr-5	96	39	various	various	ADJ
asfbr-5	96	40	significance	significance	NOUN
asfbr-5	96	41	level	level	NOUN
asfbr-5	96	42	.	.	PUNCT
asfbr-5	97	1	the	the	DET
asfbr-5	97	2	computed	computed	ADJ
asfbr-5	97	3	f	f	NOUN
asfbr-5	97	4	-	-	PUNCT
asfbr-5	97	5	statistic	statistic	NOUN
asfbr-5	97	6	is	be	AUX
asfbr-5	97	7	greater	great	ADJ
asfbr-5	97	8	than	than	ADP
asfbr-5	97	9	the	the	DET
asfbr-5	97	10	lower	low	ADJ
asfbr-5	97	11	and	and	CCONJ
asfbr-5	97	12	upper	upper	ADJ
asfbr-5	97	13	critical	critical	ADJ
asfbr-5	97	14	bound	bind	VERB
asfbr-5	97	15	values	value	NOUN
asfbr-5	97	16	at	at	ADP
asfbr-5	97	17	1	1	NUM
asfbr-5	97	18	%	%	NOUN
asfbr-5	97	19	,	,	PUNCT
asfbr-5	97	20	5	5	NUM
asfbr-5	97	21	%	%	NOUN
asfbr-5	97	22	and	and	CCONJ
asfbr-5	97	23	10	10	NUM
asfbr-5	97	24	%	%	NOUN
asfbr-5	97	25	respectively	respectively	ADV
asfbr-5	97	26	,	,	PUNCT
asfbr-5	97	27	thus	thus	ADV
asfbr-5	97	28	indicating	indicate	VERB
asfbr-5	97	29	the	the	DET
asfbr-5	97	30	existence	existence	NOUN
asfbr-5	97	31	of	of	ADP
asfbr-5	97	32	a	a	DET
asfbr-5	97	33	steady	steady	ADJ
asfbr-5	97	34	-	-	PUNCT
asfbr-5	97	35	state	state	NOUN
asfbr-5	97	36	long	long	ADJ
asfbr-5	97	37	-	-	PUNCT
asfbr-5	97	38	run	run	NOUN
asfbr-5	97	39	relationship	relationship	NOUN
asfbr-5	97	40	among	among	ADP
asfbr-5	97	41	the	the	DET
asfbr-5	97	42	variables	variable	NOUN
asfbr-5	97	43	.	.	PUNCT
asfbr-5	98	1	this	this	PRON
asfbr-5	98	2	suggests	suggest	VERB
asfbr-5	98	3	that	that	SCONJ
asfbr-5	98	4	the	the	DET
asfbr-5	98	5	various	various	ADJ
asfbr-5	98	6	selected	select	VERB
asfbr-5	98	7	macroeconomic	macroeconomic	ADJ
asfbr-5	98	8	variables	variable	NOUN
asfbr-5	98	9	have	have	VERB
asfbr-5	98	10	a	a	DET
asfbr-5	98	11	long	long	ADJ
asfbr-5	98	12	run	run	NOUN
asfbr-5	98	13	relationship	relationship	NOUN
asfbr-5	98	14	with	with	ADP
asfbr-5	98	15	dividend	dividend	NOUN
asfbr-5	98	16	policy	policy	NOUN
asfbr-5	98	17	indices	index	NOUN
asfbr-5	98	18	in	in	ADP
asfbr-5	98	19	nigeria	nigeria	PROPN
asfbr-5	98	20	.	.	PUNCT
asfbr-5	99	1	5	5	X
asfbr-5	99	2	.	.	X
asfbr-5	99	3	concluding	conclude	VERB
asfbr-5	99	4	remark	remark	NOUN
asfbr-5	99	5	this	this	DET
asfbr-5	99	6	study	study	NOUN
asfbr-5	99	7	is	be	AUX
asfbr-5	99	8	an	an	DET
asfbr-5	99	9	attempt	attempt	NOUN
asfbr-5	99	10	to	to	PART
asfbr-5	99	11	investigate	investigate	VERB
asfbr-5	99	12	macroeconomic	macroeconomic	ADJ
asfbr-5	99	13	variables	variable	NOUN
asfbr-5	99	14	and	and	CCONJ
asfbr-5	99	15	dividend	dividend	NOUN
asfbr-5	99	16	policy	policy	NOUN
asfbr-5	99	17	of	of	ADP
asfbr-5	99	18	quoted	quote	VERB
asfbr-5	99	19	firms	firm	NOUN
asfbr-5	99	20	in	in	ADP
asfbr-5	99	21	nigeria	nigeria	PROPN
asfbr-5	99	22	.	.	PUNCT
asfbr-5	100	1	the	the	DET
asfbr-5	100	2	overall	overall	ADJ
asfbr-5	100	3	results	result	NOUN
asfbr-5	100	4	suggest	suggest	VERB
asfbr-5	100	5	that	that	SCONJ
asfbr-5	100	6	retention	retention	NOUN
asfbr-5	100	7	ratio	ratio	NOUN
asfbr-5	100	8	responds	respond	VERB
asfbr-5	100	9	to	to	ADP
asfbr-5	100	10	the	the	DET
asfbr-5	100	11	dynamics	dynamic	NOUN
asfbr-5	100	12	of	of	ADP
asfbr-5	100	13	the	the	DET
asfbr-5	100	14	macroeconomic	macroeconomic	ADJ
asfbr-5	100	15	environment	environment	NOUN
asfbr-5	100	16	;	;	PUNCT
asfbr-5	100	17	especially	especially	ADV
asfbr-5	100	18	from	from	ADP
asfbr-5	100	19	interest	interest	NOUN
asfbr-5	100	20	rate	rate	NOUN
asfbr-5	100	21	,	,	PUNCT
asfbr-5	100	22	oil	oil	NOUN
asfbr-5	100	23	price	price	NOUN
asfbr-5	100	24	,	,	PUNCT
asfbr-5	100	25	financial	financial	ADJ
asfbr-5	100	26	sector	sector	NOUN
asfbr-5	100	27	development	development	NOUN
asfbr-5	100	28	,	,	PUNCT
asfbr-5	100	29	capital	capital	NOUN
asfbr-5	100	30	market	market	NOUN
asfbr-5	100	31	development	development	NOUN
asfbr-5	100	32	,	,	PUNCT
asfbr-5	100	33	foreign	foreign	ADJ
asfbr-5	100	34	exchange	exchange	NOUN
asfbr-5	100	35	rate	rate	NOUN
asfbr-5	100	36	,	,	PUNCT
asfbr-5	100	37	monetary	monetary	ADJ
asfbr-5	100	38	policy	policy	NOUN
asfbr-5	100	39	instrument	instrument	NOUN
asfbr-5	100	40	of	of	ADP
asfbr-5	100	41	money	money	NOUN
asfbr-5	100	42	supply	supply	NOUN
asfbr-5	100	43	and	and	CCONJ
asfbr-5	100	44	the	the	DET
asfbr-5	100	45	magnitude	magnitude	NOUN
asfbr-5	100	46	of	of	ADP
asfbr-5	100	47	growth	growth	NOUN
asfbr-5	100	48	in	in	ADP
asfbr-5	100	49	the	the	DET
asfbr-5	100	50	economy	economy	NOUN
asfbr-5	100	51	,	,	PUNCT
asfbr-5	100	52	other	other	ADJ
asfbr-5	100	53	check	check	NOUN
asfbr-5	100	54	variables	variable	NOUN
asfbr-5	100	55	like	like	ADP
asfbr-5	100	56	inflation	inflation	NOUN
asfbr-5	100	57	rate	rate	NOUN
asfbr-5	100	58	appeared	appear	VERB
asfbr-5	100	59	with	with	ADP
asfbr-5	100	60	a	a	DET
asfbr-5	100	61	slight	slight	ADJ
asfbr-5	100	62	stimulus	stimulus	NOUN
asfbr-5	100	63	on	on	ADP
asfbr-5	100	64	retention	retention	NOUN
asfbr-5	100	65	ratio	ratio	NOUN
asfbr-5	100	66	.	.	PUNCT
asfbr-5	101	1	our	our	PRON
asfbr-5	101	2	result	result	NOUN
asfbr-5	101	3	supports	support	VERB
asfbr-5	101	4	the	the	DET
asfbr-5	101	5	outcry	outcry	NOUN
asfbr-5	101	6	for	for	SCONJ
asfbr-5	101	7	firms	firm	NOUN
asfbr-5	101	8	to	to	PART
asfbr-5	101	9	consider	consider	VERB
asfbr-5	101	10	the	the	DET
asfbr-5	101	11	existing	exist	VERB
asfbr-5	101	12	macroeconomic	macroeconomic	ADJ
asfbr-5	101	13	environment	environment	NOUN
asfbr-5	101	14	,	,	PUNCT
asfbr-5	101	15	as	as	ADP
asfbr-5	101	16	essential	essential	ADJ
asfbr-5	101	17	to	to	ADP
asfbr-5	101	18	achieving	achieve	VERB
asfbr-5	101	19	quite	quite	ADV
asfbr-5	101	20	good	good	ADJ
asfbr-5	101	21	dividends	dividend	NOUN
asfbr-5	101	22	policy	policy	NOUN
asfbr-5	101	23	.	.	PUNCT
asfbr-5	102	1	in	in	ADP
asfbr-5	102	2	this	this	DET
asfbr-5	102	3	line	line	NOUN
asfbr-5	102	4	,	,	PUNCT
asfbr-5	102	5	chen	chen	PROPN
asfbr-5	102	6	,	,	PUNCT
asfbr-5	102	7	roll	roll	VERB
asfbr-5	102	8	,	,	PUNCT
asfbr-5	102	9	and	and	CCONJ
asfbr-5	102	10	ross	ross	PROPN
asfbr-5	102	11	(	(	PUNCT
asfbr-5	102	12	1986	1986	NUM
asfbr-5	102	13	)	)	PUNCT
asfbr-5	102	14	showed	show	VERB
asfbr-5	102	15	that	that	SCONJ
asfbr-5	102	16	in	in	ADP
asfbr-5	102	17	the	the	DET
asfbr-5	102	18	united	united	PROPN
asfbr-5	102	19	states	states	PROPN
asfbr-5	102	20	,	,	PUNCT
asfbr-5	102	21	dividends	dividend	NOUN
asfbr-5	102	22	have	have	VERB
asfbr-5	102	23	a	a	DET
asfbr-5	102	24	strong	strong	ADJ
asfbr-5	102	25	relationship	relationship	NOUN
asfbr-5	102	26	with	with	ADP
asfbr-5	102	27	macroeconomic	macroeconomic	ADJ
asfbr-5	102	28	variables	variable	NOUN
asfbr-5	102	29	.	.	PUNCT
asfbr-5	103	1	this	this	DET
asfbr-5	103	2	study	study	NOUN
asfbr-5	103	3	also	also	ADV
asfbr-5	103	4	supports	support	VERB
asfbr-5	103	5	the	the	DET
asfbr-5	103	6	scholarly	scholarly	ADJ
asfbr-5	103	7	work	work	NOUN
asfbr-5	103	8	of	of	ADP
asfbr-5	103	9	olugbenga	olugbenga	NOUN
asfbr-5	103	10	(	(	PUNCT
asfbr-5	103	11	2011	2011	NUM
asfbr-5	103	12	)	)	PUNCT
asfbr-5	103	13	that	that	SCONJ
asfbr-5	103	14	the	the	DET
asfbr-5	103	15	impact	impact	NOUN
asfbr-5	103	16	of	of	ADP
asfbr-5	103	17	macroeconomic	macroeconomic	ADJ
asfbr-5	103	18	indicators	indicator	NOUN
asfbr-5	103	19	such	such	ADJ
asfbr-5	103	20	as	as	ADP
asfbr-5	103	21	money	money	NOUN
asfbr-5	103	22	supply	supply	NOUN
asfbr-5	103	23	,	,	PUNCT
asfbr-5	103	24	interest	interest	NOUN
asfbr-5	103	25	rate	rate	NOUN
asfbr-5	103	26	,	,	PUNCT
asfbr-5	103	27	exchange	exchange	NOUN
asfbr-5	103	28	rate	rate	NOUN
asfbr-5	103	29	,	,	PUNCT
asfbr-5	103	30	inflation	inflation	NOUN
asfbr-5	103	31	rate	rate	NOUN
asfbr-5	103	32	,	,	PUNCT
asfbr-5	103	33	oil	oil	NOUN
asfbr-5	103	34	price	price	NOUN
asfbr-5	103	35	and	and	CCONJ
asfbr-5	103	36	gross	gross	ADJ
asfbr-5	103	37	domestic	domestic	ADJ
asfbr-5	103	38	product	product	NOUN
asfbr-5	103	39	have	have	VERB
asfbr-5	103	40	varying	vary	VERB
asfbr-5	103	41	impact	impact	NOUN
asfbr-5	103	42	on	on	ADP
asfbr-5	103	43	stock	stock	NOUN
asfbr-5	103	44	prices	price	NOUN
asfbr-5	103	45	of	of	ADP
asfbr-5	103	46	firms	firm	NOUN
asfbr-5	103	47	in	in	ADP
asfbr-5	103	48	nigeria	nigeria	PROPN
asfbr-5	103	49	.	.	PUNCT
asfbr-5	104	1	this	this	PRON
asfbr-5	104	2	confirms	confirm	VERB
asfbr-5	104	3	that	that	SCONJ
asfbr-5	104	4	the	the	DET
asfbr-5	104	5	dynamics	dynamic	NOUN
asfbr-5	104	6	in	in	ADP
asfbr-5	104	7	monetary	monetary	ADJ
asfbr-5	104	8	policy	policy	NOUN
asfbr-5	104	9	and	and	CCONJ
asfbr-5	104	10	the	the	DET
asfbr-5	104	11	oscillation	oscillation	NOUN
asfbr-5	104	12	in	in	ADP
asfbr-5	104	13	the	the	DET
asfbr-5	104	14	external	external	ADJ
asfbr-5	104	15	sector	sector	NOUN
asfbr-5	104	16	have	have	VERB
asfbr-5	104	17	an	an	DET
asfbr-5	104	18	unpredictable	unpredictable	ADJ
asfbr-5	104	19	influence	influence	NOUN
asfbr-5	104	20	on	on	ADP
asfbr-5	104	21	dividends	dividend	NOUN
asfbr-5	104	22	policy	policy	NOUN
asfbr-5	104	23	of	of	ADP
asfbr-5	104	24	quoted	quote	VERB
asfbr-5	104	25	firms	firm	NOUN
asfbr-5	104	26	in	in	ADP
asfbr-5	104	27	nigeria	nigeria	PROPN
asfbr-5	104	28	.	.	PUNCT
asfbr-5	105	1	our	our	PRON
asfbr-5	105	2	long	long	ADV
asfbr-5	105	3	-	-	PUNCT
asfbr-5	105	4	run	run	VERB
asfbr-5	105	5	estimate	estimate	NOUN
asfbr-5	105	6	is	be	AUX
asfbr-5	105	7	similar	similar	ADJ
asfbr-5	105	8	to	to	ADP
asfbr-5	105	9	basse	basse	PROPN
asfbr-5	105	10	and	and	CCONJ
asfbr-5	105	11	reddemann	reddemann	PROPN
asfbr-5	105	12	(	(	PUNCT
asfbr-5	105	13	2011	2011	NUM
asfbr-5	105	14	)	)	PUNCT
asfbr-5	105	15	,	,	PUNCT
asfbr-5	105	16	based	base	VERB
asfbr-5	105	17	on	on	ADP
asfbr-5	105	18	the	the	DET
asfbr-5	105	19	established	establish	VERB
asfbr-5	105	20	long	long	ADJ
asfbr-5	105	21	-	-	PUNCT
asfbr-5	105	22	run	run	NOUN
asfbr-5	105	23	relationship	relationship	NOUN
asfbr-5	105	24	found	find	VERB
asfbr-5	105	25	between	between	ADP
asfbr-5	105	26	dividend	dividend	NOUN
asfbr-5	105	27	policy	policy	NOUN
asfbr-5	105	28	indices	index	NOUN
asfbr-5	105	29	and	and	CCONJ
asfbr-5	105	30	the	the	DET
asfbr-5	105	31	macroeconomic	macroeconomic	ADJ
asfbr-5	105	32	variables	variable	NOUN
asfbr-5	105	33	.	.	PUNCT
asfbr-5	106	1	remarkably	remarkably	ADV
asfbr-5	106	2	,	,	PUNCT
asfbr-5	106	3	this	this	DET
asfbr-5	106	4	study	study	NOUN
asfbr-5	106	5	concludes	conclude	VERB
asfbr-5	106	6	that	that	SCONJ
asfbr-5	106	7	a	a	DET
asfbr-5	106	8	long	long	ADJ
asfbr-5	106	9	run	run	NOUN
asfbr-5	106	10	relationship	relationship	NOUN
asfbr-5	106	11	exists	exist	VERB
asfbr-5	106	12	between	between	ADP
asfbr-5	106	13	retention	retention	NOUN
asfbr-5	106	14	ratio	ratio	NOUN
asfbr-5	106	15	and	and	CCONJ
asfbr-5	106	16	the	the	DET
asfbr-5	106	17	macroeconomic	macroeconomic	ADJ
asfbr-5	106	18	variables	variable	NOUN
asfbr-5	106	19	.	.	PUNCT
asfbr-5	107	1	these	these	DET
asfbr-5	107	2	conclusions	conclusion	NOUN
asfbr-5	107	3	also	also	ADV
asfbr-5	107	4	offer	offer	VERB
asfbr-5	107	5	valuable	valuable	ADJ
asfbr-5	107	6	indications	indication	NOUN
asfbr-5	107	7	to	to	ADP
asfbr-5	107	8	policy	policy	NOUN
asfbr-5	107	9	makers	maker	NOUN
asfbr-5	107	10	when	when	SCONJ
asfbr-5	107	11	determining	determine	VERB
asfbr-5	107	12	retention	retention	NOUN
asfbr-5	107	13	ratios	ratio	NOUN
asfbr-5	107	14	,	,	PUNCT
asfbr-5	107	15	by	by	ADP
asfbr-5	107	16	considering	consider	VERB
asfbr-5	107	17	the	the	DET
asfbr-5	107	18	macroeconomic	macroeconomic	ADJ
asfbr-5	107	19	environment	environment	NOUN
asfbr-5	107	20	where	where	SCONJ
asfbr-5	107	21	the	the	DET
asfbr-5	107	22	firm	firm	NOUN
asfbr-5	107	23	exists	exist	VERB
asfbr-5	107	24	.	.	PUNCT
asfbr-5	108	1	therefore	therefore	ADV
asfbr-5	108	2	,	,	PUNCT
asfbr-5	108	3	the	the	DET
asfbr-5	108	4	need	need	NOUN
asfbr-5	108	5	for	for	SCONJ
asfbr-5	108	6	firms	firm	NOUN
asfbr-5	108	7	to	to	PART
asfbr-5	108	8	consider	consider	VERB
asfbr-5	108	9	the	the	DET
asfbr-5	108	10	operating	operate	VERB
asfbr-5	108	11	macroeconomic	macroeconomic	ADJ
asfbr-5	108	12	framework	framework	NOUN
asfbr-5	108	13	in	in	ADP
asfbr-5	108	14	formulating	formulate	VERB
asfbr-5	108	15	dividend	dividend	NOUN
asfbr-5	108	16	policy	policy	NOUN
asfbr-5	108	17	is	be	AUX
asfbr-5	108	18	recommended	recommend	VERB
asfbr-5	108	19	from	from	ADP
asfbr-5	108	20	this	this	DET
asfbr-5	108	21	study	study	NOUN
asfbr-5	108	22	.	.	PUNCT
asfbr-5	109	1	references	reference	NOUN
asfbr-5	109	2	al	al	PROPN
asfbr-5	109	3	-	-	PUNCT
asfbr-5	109	4	abedallat	abedallat	NOUN
asfbr-5	109	5	,	,	PUNCT
asfbr-5	109	6	a.z	a.z	PROPN
asfbr-5	109	7	.	.	PROPN
asfbr-5	109	8	,	,	PUNCT
asfbr-5	109	9	&	&	CCONJ
asfbr-5	109	10	al	al	PROPN
asfbr-5	109	11	-	-	PUNCT
asfbr-5	109	12	shabib	shabib	PROPN
asfbr-5	109	13	,	,	PUNCT
asfbr-5	109	14	d.k	d.k	PROPN
asfbr-5	109	15	.	.	PROPN
asfbr-5	109	16	(	(	PUNCT
asfbr-5	109	17	2012	2012	NUM
asfbr-5	109	18	)	)	PUNCT
asfbr-5	109	19	.	.	PUNCT
asfbr-5	110	1	effects	effect	NOUN
asfbr-5	110	2	of	of	ADP
asfbr-5	110	3	macroeconomic	macroeconomic	ADJ
asfbr-5	110	4	variables	variable	NOUN
asfbr-5	110	5	non	non	ADJ
asfbr-5	110	6	-	-	ADJ
asfbr-5	110	7	stock	stock	ADJ
asfbr-5	110	8	market	market	NOUN
asfbr-5	110	9	:	:	PUNCT
asfbr-5	110	10	saudi	saudi	ADJ
asfbr-5	110	11	perspective	perspective	NOUN
asfbr-5	110	12	,	,	PUNCT
asfbr-5	110	13	international	international	ADJ
asfbr-5	110	14	journal	journal	NOUN
asfbr-5	110	15	of	of	ADP
asfbr-5	110	16	financial	financial	ADJ
asfbr-5	110	17	research	research	NOUN
asfbr-5	110	18	,	,	PUNCT
asfbr-5	110	19	5(4),120	5(4),120	PROPN
asfbr-5	110	20	-	-	SYM
asfbr-5	110	21	127	127	NUM
asfbr-5	110	22	black	black	NOUN
asfbr-5	110	23	,	,	PUNCT
asfbr-5	110	24	f.	f.	PROPN
asfbr-5	110	25	,	,	PUNCT
asfbr-5	110	26	(	(	PUNCT
asfbr-5	110	27	2001).the	2001).the	PRON
asfbr-5	110	28	effects	effect	NOUN
asfbr-5	110	29	of	of	ADP
asfbr-5	110	30	dividend	dividend	NOUN
asfbr-5	110	31	yields	yield	NOUN
asfbr-5	110	32	and	and	CCONJ
asfbr-5	110	33	dividend	dividend	NOUN
asfbr-5	110	34	policy	policy	NOUN
asfbr-5	110	35	on	on	ADP
asfbr-5	110	36	common	common	ADJ
asfbr-5	110	37	stock	stock	NOUN
asfbr-5	110	38	prices	price	NOUN
asfbr-5	110	39	and	and	CCONJ
asfbr-5	110	40	return	return	NOUN
asfbr-5	110	41	.	.	PUNCT
asfbr-5	111	1	journal	journal	NOUN
asfbr-5	111	2	of	of	ADP
asfbr-5	111	3	financial	financial	ADJ
asfbr-5	111	4	economics	economic	NOUN
asfbr-5	111	5	1(1),478	1(1),478	PROPN
asfbr-5	111	6	-	-	SYM
asfbr-5	111	7	531	531	NUM
asfbr-5	111	8	.	.	PUNCT
asfbr-5	112	1	brook	brook	NOUN
asfbr-5	112	2	,	,	PUNCT
asfbr-5	112	3	y.	y.	PROPN
asfbr-5	112	4	,	,	PUNCT
asfbr-5	112	5	chalton	chalton	PROPN
asfbr-5	112	6	,	,	PUNCT
asfbr-5	112	7	w.	w.	PROPN
asfbr-5	112	8	,	,	PUNCT
asfbr-5	112	9	&	&	CCONJ
asfbr-5	112	10	hendershott	hendershott	PROPN
asfbr-5	112	11	,	,	PUNCT
asfbr-5	112	12	r.	r.	PROPN
asfbr-5	112	13	,	,	PUNCT
asfbr-5	112	14	(	(	PUNCT
asfbr-5	112	15	1998	1998	NUM
asfbr-5	112	16	)	)	PUNCT
asfbr-5	112	17	.	.	PUNCT
asfbr-5	113	1	do	do	AUX
asfbr-5	113	2	firms	firm	NOUN
asfbr-5	113	3	use	use	VERB
asfbr-5	113	4	dividends	dividend	NOUN
asfbr-5	113	5	to	to	PART
asfbr-5	113	6	signal	signal	VERB
asfbr-5	113	7	large	large	ADJ
asfbr-5	113	8	future	future	ADJ
asfbr-5	113	9	cash	cash	NOUN
asfbr-5	113	10	flow	flow	NOUN
asfbr-5	113	11	increase	increase	NOUN
asfbr-5	113	12	?	?	PUNCT
asfbr-5	114	1	international	international	ADJ
asfbr-5	114	2	journal	journal	NOUN
asfbr-5	114	3	of	of	ADP
asfbr-5	114	4	finance	finance	NOUN
asfbr-5	114	5	management	management	NOUN
asfbr-5	114	6	9	9	NUM
asfbr-5	114	7	(	(	PUNCT
asfbr-5	114	8	27	27	NUM
asfbr-5	114	9	)	)	PUNCT
asfbr-5	114	10	,	,	PUNCT
asfbr-5	114	11	46	46	NUM
asfbr-5	114	12	-	-	SYM
asfbr-5	114	13	57	57	NUM
asfbr-5	114	14	.	.	PUNCT
asfbr-5	115	1	basse	basse	PROPN
asfbr-5	115	2	,	,	PUNCT
asfbr-5	115	3	t.	t.	PROPN
asfbr-5	115	4	,	,	PUNCT
asfbr-5	115	5	&	&	CCONJ
asfbr-5	115	6	reddemann	reddemann	PROPN
asfbr-5	115	7	,	,	PUNCT
asfbr-5	115	8	s.	s.	PROPN
asfbr-5	115	9	(	(	PUNCT
asfbr-5	115	10	2011).inflation	2011).inflation	NUM
asfbr-5	115	11	and	and	CCONJ
asfbr-5	115	12	the	the	DET
asfbr-5	115	13	dividend	dividend	NOUN
asfbr-5	115	14	policy	policy	NOUN
asfbr-5	115	15	of	of	ADP
asfbr-5	115	16	us	us	PROPN
asfbr-5	115	17	firms	firm	NOUN
asfbr-5	115	18	.	.	PUNCT
asfbr-5	116	1	economy	economy	NOUN
asfbr-5	116	2	watch	watch	VERB
asfbr-5	116	3	6	6	NUM
asfbr-5	116	4	(	(	PUNCT
asfbr-5	116	5	4	4	NUM
asfbr-5	116	6	)	)	PUNCT
asfbr-5	116	7	,	,	PUNCT
asfbr-5	116	8	333	333	NUM
asfbr-5	116	9	-	-	SYM
asfbr-5	116	10	64	64	NUM
asfbr-5	116	11	black	black	NOUN
asfbr-5	116	12	,	,	PUNCT
asfbr-5	116	13	f.	f.	PROPN
asfbr-5	116	14	(	(	PUNCT
asfbr-5	116	15	1976	1976	NUM
asfbr-5	116	16	)	)	PUNCT
asfbr-5	116	17	.	.	PUNCT
asfbr-5	117	1	the	the	DET
asfbr-5	117	2	dividend	dividend	NOUN
asfbr-5	117	3	puzzle	puzzle	NOUN
asfbr-5	117	4	,	,	PUNCT
asfbr-5	117	5	journal	journal	NOUN
asfbr-5	117	6	of	of	ADP
asfbr-5	117	7	portfolio	portfolio	NOUN
asfbr-5	117	8	management	management	NOUN
asfbr-5	117	9	,	,	PUNCT
asfbr-5	117	10	2	2	NUM
asfbr-5	117	11	,	,	PUNCT
asfbr-5	117	12	5	5	NUM
asfbr-5	117	13	-	-	SYM
asfbr-5	117	14	8	8	NUM
asfbr-5	117	15	brook	brook	NOUN
asfbr-5	117	16	,	,	PUNCT
asfbr-5	117	17	y.	y.	PROPN
asfbr-5	117	18	,	,	PUNCT
asfbr-5	117	19	chalton	chalton	PROPN
asfbr-5	117	20	,	,	PUNCT
asfbr-5	117	21	w.	w.	PROPN
asfbr-5	117	22	and	and	CCONJ
asfbr-5	117	23	hendershott	hendershott	PROPN
asfbr-5	117	24	,	,	PUNCT
asfbr-5	117	25	r.	r.	PROPN
asfbr-5	117	26	(	(	PUNCT
asfbr-5	117	27	1998	1998	NUM
asfbr-5	117	28	)	)	PUNCT
asfbr-5	117	29	.	.	PUNCT
asfbr-5	118	1	“	"	PUNCT
asfbr-5	118	2	do	do	AUX
asfbr-5	118	3	firms	firm	NOUN
asfbr-5	118	4	use	use	VERB
asfbr-5	118	5	dividends	dividend	NOUN
asfbr-5	118	6	to	to	PART
asfbr-5	118	7	signal	signal	VERB
asfbr-5	118	8	large	large	ADJ
asfbr-5	118	9	future	future	ADJ
asfbr-5	118	10	cash	cash	NOUN
asfbr-5	118	11	flow	flow	NOUN
asfbr-5	118	12	increase	increase	NOUN
asfbr-5	118	13	?	?	PUNCT
asfbr-5	118	14	”	"	PUNCT
asfbr-5	118	15	,	,	PUNCT
asfbr-5	118	16	financial	financial	ADJ
asfbr-5	118	17	management	management	NOUN
asfbr-5	118	18	,	,	PUNCT
asfbr-5	118	19	autumn	autumn	NOUN
asfbr-5	118	20	,	,	PUNCT
asfbr-5	118	21	46	46	NUM
asfbr-5	118	22	-	-	SYM
asfbr-5	118	23	57	57	NUM
asfbr-5	118	24	.	.	PUNCT
asfbr-5	119	1	brooks	brooks	PROPN
asfbr-5	119	2	.	.	PUNCT
asfbr-5	120	1	c.	c.	PROPN
asfbr-5	120	2	(	(	PUNCT
asfbr-5	120	3	2002	2002	NUM
asfbr-5	120	4	)	)	PUNCT
asfbr-5	120	5	.	.	PUNCT
asfbr-5	121	1	introductory	introductory	ADJ
asfbr-5	121	2	econometrics	econometric	NOUN
asfbr-5	121	3	for	for	ADP
asfbr-5	121	4	finance	finance	NOUN
asfbr-5	121	5	,	,	PUNCT
asfbr-5	121	6	2nd	2nd	ADJ
asfbr-5	121	7	edition	edition	NOUN
asfbr-5	121	8	,	,	PUNCT
asfbr-5	121	9	and	and	CCONJ
asfbr-5	121	10	cambridge	cambridge	PROPN
asfbr-5	121	11	university	university	PROPN
asfbr-5	121	12	press	press	NOUN
asfbr-5	121	13	.	.	PUNCT
asfbr-5	122	1	;	;	PUNCT
asfbr-5	122	2	chen	chen	PROPN
asfbr-5	122	3	,	,	PUNCT
asfbr-5	122	4	n	n	CCONJ
asfbr-5	122	5	,	,	PUNCT
asfbr-5	122	6	roll	roll	NOUN
asfbr-5	122	7	,	,	PUNCT
asfbr-5	122	8	r	r	NOUN
asfbr-5	122	9	.	.	PUNCT
asfbr-5	122	10	,	,	PUNCT
asfbr-5	122	11	&	&	CCONJ
asfbr-5	122	12	ross	ross	PROPN
asfbr-5	122	13	,	,	PUNCT
asfbr-5	122	14	a.	a.	PROPN
asfbr-5	122	15	,	,	PUNCT
asfbr-5	122	16	(	(	PUNCT
asfbr-5	122	17	1986	1986	NUM
asfbr-5	122	18	)	)	PUNCT
asfbr-5	122	19	.	.	PUNCT
asfbr-5	123	1	economic	economic	ADJ
asfbr-5	123	2	forces	force	NOUN
asfbr-5	123	3	and	and	CCONJ
asfbr-5	123	4	the	the	DET
asfbr-5	123	5	stock	stock	NOUN
asfbr-5	123	6	market	market	NOUN
asfbr-5	123	7	:	:	PUNCT
asfbr-5	123	8	testing	test	VERB
asfbr-5	123	9	the	the	DET
asfbr-5	123	10	apt	apt	ADJ
asfbr-5	123	11	and	and	CCONJ
asfbr-5	123	12	alternative	alternative	ADJ
asfbr-5	123	13	pricing	pricing	NOUN
asfbr-5	123	14	theories	theory	NOUN
asfbr-5	123	15	.	.	PUNCT
asfbr-5	124	1	journal	journal	PROPN
asfbr-5	124	2	of	of	ADP
asfbr-5	124	3	business.l59	business.l59	PROPN
asfbr-5	124	4	(	(	PUNCT
asfbr-5	124	5	17	17	NUM
asfbr-5	124	6	)	)	PUNCT
asfbr-5	124	7	,	,	PUNCT
asfbr-5	124	8	383	383	NUM
asfbr-5	124	9	-	-	SYM
asfbr-5	124	10	403	403	NUM
asfbr-5	124	11	.	.	PUNCT
asfbr-5	125	1	dickey	dickey	PROPN
asfbr-5	125	2	,	,	PUNCT
asfbr-5	125	3	d.	d.	PROPN
asfbr-5	125	4	,	,	PUNCT
asfbr-5	125	5	&	&	CCONJ
asfbr-5	125	6	fuller	full	ADJ
asfbr-5	125	7	,	,	PUNCT
asfbr-5	125	8	w.	w.	PROPN
asfbr-5	125	9	,	,	PUNCT
asfbr-5	125	10	(	(	PUNCT
asfbr-5	125	11	1981	1981	NUM
asfbr-5	125	12	)	)	PUNCT
asfbr-5	125	13	.	.	PUNCT
asfbr-5	126	1	likelihood	likelihood	NOUN
asfbr-5	126	2	ratio	ratio	NOUN
asfbr-5	126	3	statistics	statistic	NOUN
asfbr-5	126	4	for	for	ADP
asfbr-5	126	5	autoregressive	autoregressive	ADJ
asfbr-5	126	6	time	time	NOUN
asfbr-5	126	7	series	series	NOUN
asfbr-5	126	8	with	with	ADP
asfbr-5	126	9	a	a	DET
asfbr-5	126	10	unit	unit	NOUN
asfbr-5	126	11	root.econometrica	root.econometrica	PRON
asfbr-5	126	12	17(49	17(49	NOUN
asfbr-5	126	13	)	)	PUNCT
asfbr-5	126	14	,	,	PUNCT
asfbr-5	126	15	1057	1057	NUM
asfbr-5	126	16	–	–	PUNCT
asfbr-5	126	17	1072	1072	NUM
asfbr-5	126	18	.	.	PUNCT
asfbr-5	127	1	duke	duke	PROPN
asfbr-5	127	2	,	,	PUNCT
asfbr-5	127	3	s.b	s.b	PROPN
asfbr-5	127	4	.	.	PROPN
asfbr-5	127	5	,	,	PUNCT
asfbr-5	127	6	ikenna	ikenna	NOUN
asfbr-5	127	7	,	,	PUNCT
asfbr-5	127	8	n.d	n.d	PROPN
asfbr-5	127	9	.	.	PROPN
asfbr-5	127	10	and	and	CCONJ
asfbr-5	127	11	nkamare	nkamare	NOUN
asfbr-5	127	12	,	,	PUNCT
asfbr-5	127	13	s.e.(2015	s.e.(2015	PROPN
asfbr-5	127	14	)	)	PUNCT
asfbr-5	127	15	.	.	PUNCT
asfbr-5	128	1	"	"	PUNCT
asfbr-5	128	2	impact	impact	NOUN
asfbr-5	128	3	of	of	ADP
asfbr-5	128	4	dividend	dividend	NOUN
asfbr-5	128	5	policy	policy	NOUN
asfbr-5	128	6	on	on	ADP
asfbr-5	128	7	share	share	NOUN
asfbr-5	128	8	price	price	NOUN
asfbr-5	128	9	valuation	valuation	NOUN
asfbr-5	128	10	in	in	ADP
asfbr-5	128	11	nigerian	nigerian	ADJ
asfbr-5	128	12	banks	bank	NOUN
asfbr-5	128	13	.	.	PUNCT
asfbr-5	128	14	"	"	PUNCT
asfbr-5	129	1	archive	archive	NOUN
asfbr-5	129	2	of	of	ADP
asfbr-5	129	3	business	business	NOUN
asfbr-5	129	4	research	research	NOUN
asfbr-5	129	5	,	,	PUNCT
asfbr-5	129	6	3	3	NUM
asfbr-5	129	7	(	(	PUNCT
asfbr-5	129	8	1	1	NUM
asfbr-5	129	9	)	)	PUNCT
asfbr-5	129	10	156	156	NUM
asfbr-5	129	11	-	-	SYM
asfbr-5	129	12	170	170	NUM
asfbr-5	129	13	gordon	gordon	PROPN
asfbr-5	129	14	,	,	PUNCT
asfbr-5	129	15	m.	m.	NOUN
asfbr-5	129	16	j.	j.	PROPN
asfbr-5	129	17	(	(	PUNCT
asfbr-5	129	18	1959	1959	NUM
asfbr-5	129	19	)	)	PUNCT
asfbr-5	129	20	.	.	PUNCT
asfbr-5	130	1	dividends	dividend	NOUN
asfbr-5	130	2	,	,	PUNCT
asfbr-5	130	3	earnings	earning	NOUN
asfbr-5	130	4	,	,	PUNCT
asfbr-5	130	5	and	and	CCONJ
asfbr-5	130	6	stock	stock	NOUN
asfbr-5	130	7	prices	price	NOUN
asfbr-5	130	8	.	.	PUNCT
asfbr-5	131	1	the	the	DET
asfbr-5	131	2	review	review	NOUN
asfbr-5	131	3	of	of	ADP
asfbr-5	131	4	economics	economic	NOUN
asfbr-5	131	5	and	and	CCONJ
asfbr-5	131	6	statistics	statistic	NOUN
asfbr-5	131	7	,	,	PUNCT
asfbr-5	131	8	41(2	41(2	NUM
asfbr-5	131	9	)	)	PUNCT
asfbr-5	131	10	,	,	PUNCT
asfbr-5	131	11	99	99	NUM
asfbr-5	131	12	-	-	SYM
asfbr-5	131	13	105	105	NUM
asfbr-5	131	14	.	.	PUNCT
asfbr-5	132	1	gordon	gordon	PROPN
asfbr-5	132	2	,	,	PUNCT
asfbr-5	132	3	m.	m.	NOUN
asfbr-5	132	4	,	,	PUNCT
asfbr-5	132	5	(	(	PUNCT
asfbr-5	132	6	1962).the	1962).the	NUM
asfbr-5	132	7	savings	saving	NOUN
asfbr-5	132	8	,	,	PUNCT
asfbr-5	132	9	investment	investment	NOUN
asfbr-5	132	10	,	,	PUNCT
asfbr-5	132	11	and	and	CCONJ
asfbr-5	132	12	valuation	valuation	NOUN
asfbr-5	132	13	of	of	ADP
asfbr-5	132	14	a	a	DET
asfbr-5	132	15	corporation	corporation	NOUN
asfbr-5	132	16	.	.	PUNCT
asfbr-5	133	1	review	review	NOUN
asfbr-5	133	2	of	of	ADP
asfbr-5	133	3	economics	economic	NOUN
asfbr-5	133	4	and	and	CCONJ
asfbr-5	133	5	statistics	statistic	NOUN
asfbr-5	133	6	,	,	PUNCT
asfbr-5	133	7	37	37	NUM
asfbr-5	133	8	-	-	SYM
asfbr-5	133	9	51	51	NUM
asfbr-5	133	10	.	.	PUNCT
asfbr-5	134	1	gordon	gordon	PROPN
asfbr-5	134	2	,	,	PUNCT
asfbr-5	134	3	m.	m.	NOUN
asfbr-5	134	4	j.	j.	PROPN
asfbr-5	134	5	,	,	PUNCT
asfbr-5	134	6	&	&	CCONJ
asfbr-5	134	7	shapiro	shapiro	PROPN
asfbr-5	134	8	,	,	PUNCT
asfbr-5	134	9	e.	e.	PROPN
asfbr-5	134	10	,	,	PUNCT
asfbr-5	134	11	(	(	PUNCT
asfbr-5	134	12	1956	1956	NUM
asfbr-5	134	13	)	)	PUNCT
asfbr-5	134	14	.	.	PUNCT
asfbr-5	135	1	capital	capital	NOUN
asfbr-5	135	2	equipment	equipment	NOUN
asfbr-5	135	3	analysis	analysis	NOUN
asfbr-5	135	4	:	:	PUNCT
asfbr-5	135	5	the	the	DET
asfbr-5	135	6	required	require	VERB
asfbr-5	135	7	rate	rate	NOUN
asfbr-5	135	8	of	of	ADP
asfbr-5	135	9	profit	profit	NOUN
asfbr-5	135	10	.	.	PUNCT
asfbr-5	136	1	management	management	NOUN
asfbr-5	136	2	science	science	NOUN
asfbr-5	136	3	,	,	PUNCT
asfbr-5	136	4	3	3	NUM
asfbr-5	136	5	(	(	PUNCT
asfbr-5	136	6	1	1	NUM
asfbr-5	136	7	)	)	PUNCT
asfbr-5	136	8	,	,	PUNCT
asfbr-5	136	9	102	102	NUM
asfbr-5	136	10	-	-	SYM
asfbr-5	136	11	110	110	NUM
asfbr-5	136	12	.	.	PUNCT
asfbr-5	137	1	gujarati	gujarati	PROPN
asfbr-5	137	2	,	,	PUNCT
asfbr-5	137	3	n.	n.	PROPN
asfbr-5	137	4	(	(	PUNCT
asfbr-5	137	5	2004	2004	NUM
asfbr-5	137	6	)	)	PUNCT
asfbr-5	137	7	.	.	PUNCT
asfbr-5	138	1	basic	basic	ADJ
asfbr-5	138	2	econometrics	econometric	NOUN
asfbr-5	138	3	.	.	PUNCT
asfbr-5	139	1	singapore	singapore	PROPN
asfbr-5	139	2	:	:	PUNCT
asfbr-5	139	3	mcgraw	mcgraw	PROPN
asfbr-5	139	4	-	-	PUNCT
asfbr-5	139	5	hill	hill	NOUN
asfbr-5	139	6	.	.	PUNCT
asfbr-5	140	1	kalyanaraman	kalyanaraman	PROPN
asfbr-5	140	2	,	,	PUNCT
asfbr-5	140	3	l.	l.	PROPN
asfbr-5	140	4	,	,	PUNCT
asfbr-5	140	5	&	&	CCONJ
asfbr-5	140	6	al	al	PROPN
asfbr-5	140	7	-	-	PUNCT
asfbr-5	140	8	tuwajri	tuwajri	PROPN
asfbr-5	140	9	,	,	PUNCT
asfbr-5	140	10	b.	b.	PROPN
asfbr-5	140	11	(	(	PUNCT
asfbr-5	140	12	2014	2014	NUM
asfbr-5	140	13	)	)	PUNCT
asfbr-5	140	14	.	.	PUNCT
asfbr-5	141	1	macroeconomic	macroeconomic	ADJ
asfbr-5	141	2	forces	force	NOUN
asfbr-5	141	3	and	and	CCONJ
asfbr-5	141	4	stock	stock	NOUN
asfbr-5	141	5	prices	price	NOUN
asfbr-5	141	6	:	:	PUNCT
asfbr-5	141	7	some	some	DET
asfbr-5	141	8	empirical	empirical	ADJ
asfbr-5	141	9	evidence	evidence	NOUN
asfbr-5	141	10	from	from	ADP
asfbr-5	141	11	pakistan	pakistan	PROPN
asfbr-5	141	12	,	,	PUNCT
asfbr-5	141	13	asain	asain	ADJ
asfbr-5	141	14	journal	journal	NOUN
asfbr-5	141	15	11(7	11(7	NUM
asfbr-5	141	16	)	)	PUNCT
asfbr-5	141	17	89	89	NUM
asfbr-5	141	18	-	-	SYM
asfbr-5	141	19	102	102	NUM
asfbr-5	141	20	kaul	kaul	NOUN
asfbr-5	141	21	,	,	PUNCT
asfbr-5	141	22	g.	g.	PROPN
asfbr-5	141	23	,	,	PUNCT
asfbr-5	141	24	(	(	PUNCT
asfbr-5	141	25	1990	1990	NUM
asfbr-5	141	26	)	)	PUNCT
asfbr-5	141	27	.	.	PUNCT
asfbr-5	142	1	monetary	monetary	ADJ
asfbr-5	142	2	regimes	regime	NOUN
asfbr-5	142	3	and	and	CCONJ
asfbr-5	142	4	the	the	DET
asfbr-5	142	5	relation	relation	NOUN
asfbr-5	142	6	between	between	ADP
asfbr-5	142	7	stock	stock	NOUN
asfbr-5	142	8	returns	return	NOUN
asfbr-5	142	9	and	and	CCONJ
asfbr-5	142	10	evidence	evidence	NOUN
asfbr-5	142	11	from	from	ADP
asfbr-5	142	12	the	the	DET
asfbr-5	142	13	finnish	finnish	ADJ
asfbr-5	142	14	stock	stock	NOUN
asfbr-5	142	15	market	market	NOUN
asfbr-5	142	16	.	.	PUNCT
asfbr-5	143	1	the	the	DET
asfbr-5	143	2	finnish	finnish	ADJ
asfbr-5	143	3	journal	journal	NOUN
asfbr-5	143	4	of	of	ADP
asfbr-5	143	5	business	business	NOUN
asfbr-5	143	6	economics	economic	NOUN
asfbr-5	143	7	,	,	PUNCT
asfbr-5	143	8	49(2	49(2	NUM
asfbr-5	143	9	)	)	PUNCT
asfbr-5	143	10	,	,	PUNCT
asfbr-5	143	11	209	209	NUM
asfbr-5	143	12	-	-	SYM
asfbr-5	143	13	232	232	NUM
asfbr-5	143	14	.	.	PUNCT
asfbr-5	143	15	maddala	maddala	PROPN
asfbr-5	143	16	,	,	PUNCT
asfbr-5	143	17	g.	g.	PROPN
asfbr-5	143	18	s.	s.	PROPN
asfbr-5	143	19	,	,	PUNCT
asfbr-5	143	20	&	&	CCONJ
asfbr-5	143	21	wu	wu	PROPN
asfbr-5	143	22	,	,	PUNCT
asfbr-5	143	23	s.	s.	PROPN
asfbr-5	143	24	(	(	PUNCT
asfbr-5	143	25	1999	1999	NUM
asfbr-5	143	26	)	)	PUNCT
asfbr-5	143	27	.	.	PUNCT
asfbr-5	144	1	cross	cross	ADJ
asfbr-5	144	2	-	-	ADJ
asfbr-5	144	3	country	country	ADJ
asfbr-5	144	4	growth	growth	NOUN
asfbr-5	144	5	regressions	regression	NOUN
asfbr-5	144	6	:	:	PUNCT
asfbr-5	144	7	problems	problem	NOUN
asfbr-5	144	8	of	of	ADP
asfbr-5	144	9	heterogeneity	heterogeneity	NOUN
asfbr-5	144	10	,	,	PUNCT
asfbr-5	144	11	stability	stability	NOUN
asfbr-5	144	12	,	,	PUNCT
asfbr-5	144	13	and	and	CCONJ
asfbr-5	144	14	interpretation	interpretation	NOUN
asfbr-5	144	15	.	.	PUNCT
asfbr-5	145	1	applied	apply	VERB
asfbr-5	145	2	economics	economic	NOUN
asfbr-5	145	3	,	,	PUNCT
asfbr-5	145	4	32	32	NUM
asfbr-5	145	5	,	,	PUNCT
asfbr-5	145	6	635–642	635–642	NUM
asfbr-5	145	7	.	.	PUNCT
asfbr-5	146	1	miller	miller	PROPN
asfbr-5	146	2	,	,	PUNCT
asfbr-5	146	3	m.	m.	PROPN
asfbr-5	146	4	h.	h.	PROPN
asfbr-5	146	5	,	,	PUNCT
asfbr-5	146	6	&	&	CCONJ
asfbr-5	146	7	modigliani	modigliani	PROPN
asfbr-5	146	8	,	,	PUNCT
asfbr-5	146	9	f.	f.	PROPN
asfbr-5	146	10	(	(	PUNCT
asfbr-5	146	11	1961).dividend	1961).dividend	NUM
asfbr-5	146	12	policy	policy	NOUN
asfbr-5	146	13	growth	growth	NOUN
asfbr-5	146	14	and	and	CCONJ
asfbr-5	146	15	the	the	DET
asfbr-5	146	16	valuation	valuation	NOUN
asfbr-5	146	17	of	of	ADP
asfbr-5	146	18	shares.the	shares.the	DET
asfbr-5	146	19	journal	journal	NOUN
asfbr-5	146	20	of	of	ADP
asfbr-5	146	21	business	business	NOUN
asfbr-5	146	22	,	,	PUNCT
asfbr-5	146	23	34	34	NUM
asfbr-5	146	24	,	,	PUNCT
asfbr-5	146	25	(	(	PUNCT
asfbr-5	146	26	4	4	NUM
asfbr-5	146	27	)	)	PUNCT
asfbr-5	146	28	,	,	PUNCT
asfbr-5	146	29	411	411	NUM
asfbr-5	146	30	-	-	SYM
asfbr-5	146	31	433	433	NUM
asfbr-5	146	32	.	.	PUNCT
asfbr-5	147	1	okpara	okpara	NOUN
asfbr-5	147	2	,	,	PUNCT
asfbr-5	147	3	g.	g.	PROPN
asfbr-5	147	4	(	(	PUNCT
asfbr-5	147	5	2010).a	2010).a	NUM
asfbr-5	147	6	diagnosis	diagnosis	NOUN
asfbr-5	147	7	of	of	ADP
asfbr-5	147	8	the	the	DET
asfbr-5	147	9	determinants	determinant	NOUN
asfbr-5	147	10	of	of	ADP
asfbr-5	147	11	dividend	dividend	NOUN
asfbr-5	147	12	payout	payout	NOUN
asfbr-5	147	13	policy	policy	NOUN
asfbr-5	147	14	in	in	ADP
asfbr-5	147	15	nigeria	nigeria	PROPN
asfbr-5	147	16	:	:	PUNCT
asfbr-5	147	17	a	a	DET
asfbr-5	147	18	factor	factor	NOUN
asfbr-5	147	19	analytical	analytical	ADJ
asfbr-5	147	20	approaches	approach	NOUN
asfbr-5	147	21	.	.	PUNCT
asfbr-5	148	1	american	american	ADJ
asfbr-5	148	2	journal	journal	PROPN
asfbr-5	148	3	of	of	ADP
asfbr-5	148	4	scientific	scientific	ADJ
asfbr-5	148	5	research	research	NOUN
asfbr-5	148	6	,	,	PUNCT
asfbr-5	148	7	8	8	NUM
asfbr-5	148	8	,	,	PUNCT
asfbr-5	148	9	57	57	NUM
asfbr-5	148	10	-	-	SYM
asfbr-5	148	11	67	67	NUM
asfbr-5	148	12	.	.	PUNCT
asfbr-5	149	1	onoh	onoh	PROPN
asfbr-5	149	2	,	,	PUNCT
asfbr-5	149	3	j.k	j.k	PROPN
asfbr-5	149	4	.	.	PROPN
asfbr-5	149	5	,(2002).dynamics	,(2002).dynamics	PUNCT
asfbr-5	149	6	of	of	ADP
asfbr-5	149	7	money	money	NOUN
asfbr-5	149	8	banking	banking	NOUN
asfbr-5	149	9	and	and	CCONJ
asfbr-5	149	10	finance	finance	NOUN
asfbr-5	149	11	in	in	ADP
asfbr-5	149	12	nigeria	nigeria	PROPN
asfbr-5	149	13	:	:	PUNCT
asfbr-5	149	14	an	an	DET
asfbr-5	149	15	emerging	emerge	VERB
asfbr-5	149	16	market	market	NOUN
asfbr-5	149	17	.	.	PUNCT
asfbr-5	150	1	astra	astra	PROPN
asfbr-5	150	2	meridian	meridian	PROPN
asfbr-5	150	3	publishers	publisher	NOUN
asfbr-5	150	4	,	,	PUNCT
asfbr-5	150	5	aba	aba	PROPN
asfbr-5	150	6	,	,	PUNCT
asfbr-5	150	7	enugu	enugu	PROPN
asfbr-5	150	8	,	,	PUNCT
asfbr-5	150	9	lagos	lago	NOUN
asfbr-5	150	10	.	.	PUNCT
asfbr-5	151	1	copyrights	copyright	VERB
asfbr-5	151	2	copyright	copyright	NOUN
asfbr-5	151	3	for	for	ADP
asfbr-5	151	4	this	this	DET
asfbr-5	151	5	article	article	NOUN
asfbr-5	151	6	is	be	AUX
asfbr-5	151	7	retained	retain	VERB
asfbr-5	151	8	by	by	ADP
asfbr-5	151	9	the	the	DET
asfbr-5	151	10	author(s	author(s	PROPN
asfbr-5	151	11	)	)	PUNCT
asfbr-5	151	12	,	,	PUNCT
asfbr-5	151	13	with	with	ADP
asfbr-5	151	14	first	first	ADJ
asfbr-5	151	15	publication	publication	NOUN
asfbr-5	151	16	rights	right	NOUN
asfbr-5	151	17	granted	grant	VERB
asfbr-5	151	18	to	to	ADP
asfbr-5	151	19	the	the	DET
asfbr-5	151	20	journal	journal	NOUN
asfbr-5	151	21	.	.	PUNCT
asfbr-5	152	1	55	55	NUM
asfbr-5	152	2	63	63	NUM
asfbr-5	152	3	_	_	PUNCT
asfbr-5	153	1	1542294018.bin	1542294018.bin	NUM
asfbr-5	153	2	_	_	NOUN
asfbr-5	153	3	1542294022.bin	1542294022.bin	NUM
asfbr-5	153	4	-15	-15	PUNCT
asfbr-5	153	5	-10	-10	PUNCT
asfbr-5	153	6	-5	-5	NOUN
asfbr-5	153	7	0	0	NUM
asfbr-5	153	8	5	5	NUM
asfbr-5	153	9	10	10	NUM
asfbr-5	153	10	15	15	NUM
asfbr-5	153	11	90929496980002040608101214	90929496980002040608101214	NUM
asfbr-5	153	12	cusum5	cusum5	NOUN
asfbr-5	153	13	%	%	NOUN
asfbr-5	153	14	significance	significance	NOUN
asfbr-5	153	15	0	0	NUM
asfbr-5	153	16	1	1	NUM
asfbr-5	153	17	2	2	NUM
asfbr-5	153	18	3	3	NUM
asfbr-5	153	19	4	4	NUM
asfbr-5	153	20	5	5	NUM
asfbr-5	153	21	6	6	NUM
asfbr-5	153	22	7	7	NUM
asfbr-5	153	23	8	8	NUM
asfbr-5	153	24	9	9	NUM
asfbr-5	153	25	-70	-70	NUM
asfbr-5	153	26	-	-	PUNCT
asfbr-5	153	27	60	60	NUM
asfbr-5	153	28	-	-	PUNCT
asfbr-5	153	29	50	50	NUM
asfbr-5	153	30	-	-	PUNCT
asfbr-5	153	31	40	40	NUM
asfbr-5	153	32	-	-	PUNCT
asfbr-5	153	33	30	30	NUM
asfbr-5	153	34	-	-	PUNCT
asfbr-5	153	35	20	20	NUM
asfbr-5	153	36	-	-	PUNCT
asfbr-5	153	37	1001020304050	1001020304050	NUM
asfbr-5	153	38	series	series	NOUN
asfbr-5	153	39	:	:	PUNCT
asfbr-5	153	40	residuals	residual	NOUN
asfbr-5	153	41	sample	sample	NOUN
asfbr-5	153	42	1984	1984	NUM
asfbr-5	153	43	2014	2014	NUM
asfbr-5	153	44	observations	observation	NOUN
asfbr-5	153	45	31	31	NUM
asfbr-5	153	46	mean	mean	NOUN
asfbr-5	153	47	-3.40e-14	-3.40e-14	NOUN
asfbr-5	153	48	median	median	NOUN
asfbr-5	154	1	1.987776	1.987776	NUM
asfbr-5	154	2	maximum	maximum	ADJ
asfbr-5	154	3	47.66404	47.66404	NUM
asfbr-5	154	4	minimum	minimum	NOUN
asfbr-5	154	5	-61.85958	-61.85958	NUM
asfbr-5	154	6	std	std	PROPN
asfbr-5	154	7	.	.	PROPN
asfbr-5	154	8	dev	dev	PROPN
asfbr-5	154	9	.	.	PROPN
asfbr-5	154	10	20.97054	20.97054	NUM
asfbr-5	154	11	skewness	skewness	PROPN
asfbr-5	154	12	-0.551083	-0.551083	PROPN
asfbr-5	154	13	kurtosis	kurtosis	VERB
asfbr-5	154	14	4.529183	4.529183	NUM
asfbr-5	154	15	jarque	jarque	NOUN
asfbr-5	154	16	-	-	PUNCT
asfbr-5	154	17	bera	bera	NOUN
asfbr-5	154	18	4.589512	4.589512	NUM
asfbr-5	154	19	probability	probability	NOUN
asfbr-5	154	20	0.100786	0.100786	NUM