id	sid	tid	token	lemma	pos
ajeer-220	1	1	asian	asian	PROPN
ajeer-220	1	2	journal	journal	PROPN
ajeer-220	1	3	of	of	ADP
ajeer-220	1	4	economics	economic	NOUN
ajeer-220	1	5	and	and	CCONJ
ajeer-220	1	6	empirical	empirical	ADJ
ajeer-220	1	7	research	research	NOUN
ajeer-220	1	8	issn(e	issn(e	PROPN
ajeer-220	1	9	)	)	PUNCT
ajeer-220	1	10	:	:	PUNCT
ajeer-220	1	11	2409	2409	NUM
ajeer-220	1	12	-	-	SYM
ajeer-220	1	13	2622	2622	NUM
ajeer-220	1	14	issn(p	issn(p	PROPN
ajeer-220	1	15	)	)	PUNCT
ajeer-220	1	16	:	:	PUNCT
ajeer-220	1	17	2518	2518	NUM
ajeer-220	1	18	-	-	PUNCT
ajeer-220	1	19	010x	010x	NUM
ajeer-220	1	20	vol	vol	NOUN
ajeer-220	1	21	.	.	PROPN
ajeer-220	2	1	3	3	NUM
ajeer-220	2	2	,	,	PUNCT
ajeer-220	2	3	no	no	INTJ
ajeer-220	2	4	.	.	NOUN
ajeer-220	2	5	2	2	NUM
ajeer-220	2	6	,	,	PUNCT
ajeer-220	2	7	130	130	NUM
ajeer-220	2	8	-	-	SYM
ajeer-220	2	9	138	138	NUM
ajeer-220	2	10	,	,	PUNCT
ajeer-220	2	11	2016	2016	NUM
ajeer-220	2	12	http://asianonlinejournals.com/index.php/ajeer	http://asianonlinejournals.com/index.php/ajeer	NOUN
ajeer-220	2	13	130	130	NUM
ajeer-220	2	14	performance	performance	NOUN
ajeer-220	2	15	evaluation	evaluation	NOUN
ajeer-220	2	16	of	of	ADP
ajeer-220	2	17	uk	uk	PROPN
ajeer-220	2	18	acquiring	acquire	VERB
ajeer-220	2	19	companies	company	NOUN
ajeer-220	2	20	in	in	ADP
ajeer-220	2	21	the	the	DET
ajeer-220	2	22	pre	pre	NOUN
ajeer-220	2	23	and	and	CCONJ
ajeer-220	2	24	post	post	ADJ
ajeer-220	2	25	-	-	ADJ
ajeer-220	2	26	acquisitions	acquisition	NOUN
ajeer-220	2	27	periods	period	NOUN
ajeer-220	2	28	khurshid	khurshid	PROPN
ajeer-220	2	29	ali1	ali1	PROPN
ajeer-220	2	30	zeeshan	zeeshan	PROPN
ajeer-220	2	31	khan2	khan2	PROPN
ajeer-220	3	1	numan	numan	PROPN
ajeer-220	3	2	khan3	khan3	PROPN
ajeer-220	3	3	abdul	abdul	PROPN
ajeer-220	3	4	-	-	PUNCT
ajeer-220	3	5	hamid	hamid	PROPN
ajeer-220	3	6	ibrahim	ibrahim	PROPN
ajeer-220	3	7	alsubaie4	alsubaie4	PROPN
ajeer-220	3	8	fazal	fazal	PROPN
ajeer-220	3	9	subhan5	subhan5	PROPN
ajeer-220	3	10	moumen	moumen	PROPN
ajeer-220	3	11	kanadil6	kanadil6	PROPN
ajeer-220	3	12	1	1	NUM
ajeer-220	3	13	salford	salford	PROPN
ajeer-220	3	14	university	university	PROPN
ajeer-220	3	15	manchester	manchester	PROPN
ajeer-220	3	16	,	,	PUNCT
ajeer-220	3	17	uk	uk	PROPN
ajeer-220	3	18	2	2	NUM
ajeer-220	3	19	pakistan	pakistan	PROPN
ajeer-220	3	20	institute	institute	PROPN
ajeer-220	3	21	of	of	ADP
ajeer-220	3	22	development	development	PROPN
ajeer-220	3	23	economics	economic	NOUN
ajeer-220	3	24	(	(	PUNCT
ajeer-220	3	25	pide	pide	PROPN
ajeer-220	3	26	)	)	PUNCT
ajeer-220	3	27	3	3	NUM
ajeer-220	3	28	center	center	NOUN
ajeer-220	3	29	for	for	ADP
ajeer-220	3	30	management	management	NOUN
ajeer-220	3	31	&	&	CCONJ
ajeer-220	3	32	commerce	commerce	PROPN
ajeer-220	3	33	,	,	PUNCT
ajeer-220	3	34	university	university	PROPN
ajeer-220	3	35	of	of	ADP
ajeer-220	3	36	swat	swat	PROPN
ajeer-220	3	37	4	4	NUM
ajeer-220	3	38	university	university	NOUN
ajeer-220	3	39	of	of	ADP
ajeer-220	3	40	liverpool	liverpool	PROPN
ajeer-220	3	41	,	,	PUNCT
ajeer-220	3	42	uk	uk	PROPN
ajeer-220	3	43	5	5	NUM
ajeer-220	3	44	subject	subject	ADJ
ajeer-220	3	45	specialist	specialist	NOUN
ajeer-220	3	46	economic	economic	PROPN
ajeer-220	3	47	department	department	PROPN
ajeer-220	3	48	of	of	ADP
ajeer-220	3	49	elementary	elementary	ADJ
ajeer-220	3	50	secondary	secondary	ADJ
ajeer-220	3	51	education	education	NOUN
ajeer-220	3	52	,	,	PUNCT
ajeer-220	3	53	kp	kp	PROPN
ajeer-220	3	54	,	,	PUNCT
ajeer-220	3	55	pk	pk	PROPN
ajeer-220	3	56	6	6	NUM
ajeer-220	3	57	salford	salford	PROPN
ajeer-220	3	58	university	university	PROPN
ajeer-220	3	59	manchester	manchester	PROPN
ajeer-220	3	60	,	,	PUNCT
ajeer-220	3	61	uk	uk	PROPN
ajeer-220	3	62	.	.	PUNCT
ajeer-220	4	1	(	(	PUNCT
ajeer-220	4	2			PROPN
ajeer-220	4	3	corresponding	correspond	VERB
ajeer-220	4	4	author	author	NOUN
ajeer-220	4	5	)	)	PUNCT
ajeer-220	4	6	abstract	abstract	ADP
ajeer-220	4	7	this	this	DET
ajeer-220	4	8	paper	paper	NOUN
ajeer-220	4	9	has	have	VERB
ajeer-220	4	10	two	two	NUM
ajeer-220	4	11	objectives	objective	NOUN
ajeer-220	4	12	:	:	PUNCT
ajeer-220	4	13	first	first	ADV
ajeer-220	4	14	,	,	PUNCT
ajeer-220	4	15	it	it	PRON
ajeer-220	4	16	examines	examine	VERB
ajeer-220	4	17	the	the	DET
ajeer-220	4	18	financial	financial	ADJ
ajeer-220	4	19	performance	performance	NOUN
ajeer-220	4	20	of	of	ADP
ajeer-220	4	21	twenty	twenty	NUM
ajeer-220	4	22	uk	uk	PROPN
ajeer-220	4	23	based	base	VERB
ajeer-220	4	24	acquiring	acquire	VERB
ajeer-220	4	25	companies	company	NOUN
ajeer-220	4	26	over	over	ADP
ajeer-220	4	27	the	the	DET
ajeer-220	4	28	period	period	NOUN
ajeer-220	4	29	of	of	ADP
ajeer-220	4	30	five	five	NUM
ajeer-220	4	31	years	year	NOUN
ajeer-220	4	32	(	(	PUNCT
ajeer-220	4	33	2009	2009	NUM
ajeer-220	4	34	-	-	SYM
ajeer-220	4	35	2013	2013	NUM
ajeer-220	4	36	)	)	PUNCT
ajeer-220	4	37	using	use	VERB
ajeer-220	4	38	financial	financial	ADJ
ajeer-220	4	39	ratios	ratio	NOUN
ajeer-220	4	40	of	of	ADP
ajeer-220	4	41	liquidity	liquidity	NOUN
ajeer-220	4	42	,	,	PUNCT
ajeer-220	4	43	profitability	profitability	NOUN
ajeer-220	4	44	and	and	CCONJ
ajeer-220	4	45	solvency	solvency	NOUN
ajeer-220	4	46	in	in	ADP
ajeer-220	4	47	order	order	NOUN
ajeer-220	4	48	to	to	PART
ajeer-220	4	49	empirically	empirically	ADV
ajeer-220	4	50	determine	determine	VERB
ajeer-220	4	51	whether	whether	SCONJ
ajeer-220	4	52	there	there	PRON
ajeer-220	4	53	is	be	VERB
ajeer-220	4	54	any	any	DET
ajeer-220	4	55	significant	significant	ADJ
ajeer-220	4	56	financial	financial	ADJ
ajeer-220	4	57	performance	performance	NOUN
ajeer-220	4	58	changes	change	NOUN
ajeer-220	4	59	in	in	ADP
ajeer-220	4	60	the	the	DET
ajeer-220	4	61	operation	operation	NOUN
ajeer-220	4	62	of	of	ADP
ajeer-220	4	63	the	the	DET
ajeer-220	4	64	underlying	underlie	VERB
ajeer-220	4	65	companies	company	NOUN
ajeer-220	4	66	as	as	ADP
ajeer-220	4	67	a	a	DET
ajeer-220	4	68	result	result	NOUN
ajeer-220	4	69	of	of	ADP
ajeer-220	4	70	acquisitions	acquisition	NOUN
ajeer-220	4	71	.	.	PUNCT
ajeer-220	5	1	both	both	DET
ajeer-220	5	2	average	average	ADJ
ajeer-220	5	3	ratio	ratio	NOUN
ajeer-220	5	4	and	and	CCONJ
ajeer-220	5	5	paired	pair	VERB
ajeer-220	5	6	t	t	PROPN
ajeer-220	5	7	-	-	PUNCT
ajeer-220	5	8	test	test	NOUN
ajeer-220	5	9	analysis	analysis	NOUN
ajeer-220	5	10	have	have	AUX
ajeer-220	5	11	been	be	AUX
ajeer-220	5	12	conducted	conduct	VERB
ajeer-220	5	13	.	.	PUNCT
ajeer-220	6	1	the	the	DET
ajeer-220	6	2	analysis	analysis	NOUN
ajeer-220	6	3	concludes	conclude	VERB
ajeer-220	6	4	that	that	SCONJ
ajeer-220	6	5	none	none	NOUN
ajeer-220	6	6	of	of	ADP
ajeer-220	6	7	the	the	DET
ajeer-220	6	8	ratios	ratio	NOUN
ajeer-220	6	9	proved	prove	VERB
ajeer-220	6	10	statistical	statistical	ADJ
ajeer-220	6	11	significance	significance	NOUN
ajeer-220	6	12	which	which	PRON
ajeer-220	6	13	shows	show	VERB
ajeer-220	6	14	that	that	SCONJ
ajeer-220	6	15	the	the	DET
ajeer-220	6	16	underlying	underlie	VERB
ajeer-220	6	17	acquisitions	acquisition	NOUN
ajeer-220	6	18	did	do	AUX
ajeer-220	6	19	not	not	PART
ajeer-220	6	20	influence	influence	VERB
ajeer-220	6	21	changes	change	NOUN
ajeer-220	6	22	in	in	ADP
ajeer-220	6	23	the	the	DET
ajeer-220	6	24	financial	financial	ADJ
ajeer-220	6	25	performance	performance	NOUN
ajeer-220	6	26	of	of	ADP
ajeer-220	6	27	the	the	DET
ajeer-220	6	28	acquiring	acquire	VERB
ajeer-220	6	29	companies	company	NOUN
ajeer-220	6	30	.	.	PUNCT
ajeer-220	7	1	the	the	DET
ajeer-220	7	2	paper	paper	NOUN
ajeer-220	7	3	also	also	ADV
ajeer-220	7	4	examines	examine	VERB
ajeer-220	7	5	whether	whether	SCONJ
ajeer-220	7	6	shareholders	shareholder	NOUN
ajeer-220	7	7	make	make	VERB
ajeer-220	7	8	short	short	ADJ
ajeer-220	7	9	-	-	PUNCT
ajeer-220	7	10	term	term	NOUN
ajeer-220	7	11	gain	gain	NOUN
ajeer-220	7	12	while	while	SCONJ
ajeer-220	7	13	opting	opt	VERB
ajeer-220	7	14	for	for	ADP
ajeer-220	7	15	acquisitions	acquisition	NOUN
ajeer-220	7	16	by	by	ADP
ajeer-220	7	17	analyzing	analyze	VERB
ajeer-220	7	18	stocks	stock	NOUN
ajeer-220	7	19	return	return	VERB
ajeer-220	7	20	over	over	ADP
ajeer-220	7	21	58	58	NUM
ajeer-220	7	22	days	day	NOUN
ajeer-220	7	23	window	window	NOUN
ajeer-220	7	24	period	period	NOUN
ajeer-220	7	25	i.e.	i.e.	X
ajeer-220	7	26	29	29	NUM
ajeer-220	7	27	days	day	NOUN
ajeer-220	7	28	prior	prior	ADV
ajeer-220	7	29	to	to	ADP
ajeer-220	7	30	acquisition	acquisition	NOUN
ajeer-220	7	31	announcement	announcement	NOUN
ajeer-220	7	32	and	and	CCONJ
ajeer-220	7	33	29	29	NUM
ajeer-220	7	34	days	day	NOUN
ajeer-220	7	35	after	after	ADP
ajeer-220	7	36	acquisition	acquisition	NOUN
ajeer-220	7	37	announcement	announcement	NOUN
ajeer-220	7	38	by	by	ADP
ajeer-220	7	39	applying	apply	VERB
ajeer-220	7	40	capm	capm	PROPN
ajeer-220	7	41	model	model	NOUN
ajeer-220	7	42	and	and	CCONJ
ajeer-220	7	43	aar	aar	NOUN
ajeer-220	7	44	and	and	CCONJ
ajeer-220	7	45	caar	caar	NOUN
ajeer-220	7	46	analysis	analysis	NOUN
ajeer-220	7	47	.	.	PUNCT
ajeer-220	8	1	the	the	DET
ajeer-220	8	2	analysis	analysis	NOUN
ajeer-220	8	3	concludes	conclude	VERB
ajeer-220	8	4	that	that	SCONJ
ajeer-220	8	5	none	none	NOUN
ajeer-220	8	6	of	of	ADP
ajeer-220	8	7	the	the	DET
ajeer-220	8	8	results	result	NOUN
ajeer-220	8	9	show	show	VERB
ajeer-220	8	10	statistical	statistical	ADJ
ajeer-220	8	11	significance	significance	NOUN
ajeer-220	8	12	which	which	PRON
ajeer-220	8	13	further	far	ADV
ajeer-220	8	14	asserts	assert	VERB
ajeer-220	8	15	that	that	SCONJ
ajeer-220	8	16	uk	uk	PROPN
ajeer-220	8	17	shareholders	shareholder	NOUN
ajeer-220	8	18	do	do	AUX
ajeer-220	8	19	not	not	PART
ajeer-220	8	20	make	make	VERB
ajeer-220	8	21	gain	gain	NOUN
ajeer-220	8	22	in	in	ADP
ajeer-220	8	23	the	the	DET
ajeer-220	8	24	short	short	ADJ
ajeer-220	8	25	-	-	PUNCT
ajeer-220	8	26	term	term	NOUN
ajeer-220	8	27	as	as	ADP
ajeer-220	8	28	a	a	DET
ajeer-220	8	29	result	result	NOUN
ajeer-220	8	30	of	of	ADP
ajeer-220	8	31	the	the	DET
ajeer-220	8	32	acquisition	acquisition	NOUN
ajeer-220	8	33	activities	activity	NOUN
ajeer-220	8	34	they	they	PRON
ajeer-220	8	35	have	have	AUX
ajeer-220	8	36	undertaken	undertake	VERB
ajeer-220	8	37	.	.	PUNCT
ajeer-220	9	1	keywords	keyword	NOUN
ajeer-220	9	2	:	:	PUNCT
ajeer-220	9	3	financial	financial	ADJ
ajeer-220	9	4	performance	performance	NOUN
ajeer-220	9	5	,	,	PUNCT
ajeer-220	9	6	liquidity	liquidity	NOUN
ajeer-220	9	7	,	,	PUNCT
ajeer-220	9	8	profitability	profitability	NOUN
ajeer-220	9	9	,	,	PUNCT
ajeer-220	9	10	solvency	solvency	NOUN
ajeer-220	9	11	,	,	PUNCT
ajeer-220	9	12	acquisition	acquisition	NOUN
ajeer-220	9	13	,	,	PUNCT
ajeer-220	9	14	capm	capm	PROPN
ajeer-220	9	15	,	,	PUNCT
ajeer-220	9	16	aar	aar	NOUN
ajeer-220	9	17	,	,	PUNCT
ajeer-220	9	18	caar	caar	NOUN
ajeer-220	9	19	.	.	PUNCT
ajeer-220	10	1	contents	content	NOUN
ajeer-220	10	2	1	1	NUM
ajeer-220	10	3	.	.	PUNCT
ajeer-220	11	1	introduction	introduction	NOUN
ajeer-220	11	2	.......................................................................................................................................................................	.......................................................................................................................................................................	PUNCT
ajeer-220	12	1	131	131	NUM
ajeer-220	12	2	2	2	NUM
ajeer-220	12	3	.	.	PUNCT
ajeer-220	12	4	literature	literature	PROPN
ajeer-220	12	5	review	review	PROPN
ajeer-220	12	6	..............................................................................................................................................................	..............................................................................................................................................................	PROPN
ajeer-220	13	1	132	132	NUM
ajeer-220	13	2	3	3	X
ajeer-220	13	3	.	.	PUNCT
ajeer-220	13	4	research	research	NOUN
ajeer-220	13	5	methodology	methodology	NOUN
ajeer-220	13	6	......................................................................................................................................................	......................................................................................................................................................	VERB
ajeer-220	13	7	133	133	NUM
ajeer-220	13	8	4	4	NUM
ajeer-220	13	9	.	.	PUNCT
ajeer-220	14	1	hypothesis	hypothesis	NOUN
ajeer-220	14	2	..........................................................................................................................................................................	..........................................................................................................................................................................	PUNCT
ajeer-220	15	1	134	134	NUM
ajeer-220	15	2	5	5	NUM
ajeer-220	15	3	.	.	PUNCT
ajeer-220	15	4	research	research	NOUN
ajeer-220	15	5	design	design	NOUN
ajeer-220	15	6	.................................................................................................................................................................	.................................................................................................................................................................	PUNCT
ajeer-220	16	1	134	134	NUM
ajeer-220	16	2	6	6	NUM
ajeer-220	16	3	.	.	PUNCT
ajeer-220	17	1	empirical	empirical	ADJ
ajeer-220	17	2	analysis	analysis	NOUN
ajeer-220	17	3	.............................................................................................................................................................	.............................................................................................................................................................	PUNCT
ajeer-220	17	4	135	135	NUM
ajeer-220	17	5	7	7	NUM
ajeer-220	17	6	.	.	PUNCT
ajeer-220	17	7	discussion	discussion	NOUN
ajeer-220	17	8	...........................................................................................................................................................................	...........................................................................................................................................................................	PUNCT
ajeer-220	18	1	135	135	NUM
ajeer-220	18	2	8	8	NUM
ajeer-220	18	3	.	.	PUNCT
ajeer-220	19	1	conclusion	conclusion	NOUN
ajeer-220	19	2	..........................................................................................................................................................................	..........................................................................................................................................................................	PUNCT
ajeer-220	20	1	136	136	NUM
ajeer-220	20	2	references	reference	NOUN
ajeer-220	20	3	..............................................................................................................................................................................	..............................................................................................................................................................................	VERB
ajeer-220	20	4	137	137	NUM
ajeer-220	20	5	appendices	appendix	NOUN
ajeer-220	20	6	.............................................................................................................................................................................	.............................................................................................................................................................................	PUNCT
ajeer-220	20	7	137	137	NUM
ajeer-220	20	8	citation	citation	NOUN
ajeer-220	20	9	|	|	PROPN
ajeer-220	20	10	khurshid	khurshid	PROPN
ajeer-220	20	11	ali	ali	PROPN
ajeer-220	20	12	;	;	PUNCT
ajeer-220	20	13	zeeshan	zeeshan	PROPN
ajeer-220	20	14	khan	khan	PROPN
ajeer-220	20	15	;	;	PUNCT
ajeer-220	20	16	numan	numan	PROPN
ajeer-220	20	17	khan	khan	PROPN
ajeer-220	20	18	;	;	PUNCT
ajeer-220	20	19	abdul	abdul	PROPN
ajeer-220	20	20	-	-	PUNCT
ajeer-220	20	21	hamid	hamid	PROPN
ajeer-220	20	22	ibrahim	ibrahim	PROPN
ajeer-220	20	23	alsubaie	alsubaie	PROPN
ajeer-220	20	24	;	;	PUNCT
ajeer-220	20	25	fazal	fazal	PROPN
ajeer-220	20	26	subhan	subhan	PROPN
ajeer-220	20	27	;	;	PUNCT
ajeer-220	20	28	moumen	mouman	NOUN
ajeer-220	20	29	kanadil	kanadil	X
ajeer-220	20	30	(	(	PUNCT
ajeer-220	20	31	2016	2016	NUM
ajeer-220	20	32	)	)	PUNCT
ajeer-220	20	33	.	.	PUNCT
ajeer-220	21	1	performance	performance	NOUN
ajeer-220	21	2	evaluation	evaluation	NOUN
ajeer-220	21	3	of	of	ADP
ajeer-220	21	4	uk	uk	PROPN
ajeer-220	21	5	acquiring	acquire	VERB
ajeer-220	21	6	companies	company	NOUN
ajeer-220	21	7	in	in	ADP
ajeer-220	21	8	the	the	DET
ajeer-220	21	9	pre	pre	NOUN
ajeer-220	21	10	and	and	CCONJ
ajeer-220	21	11	post	post	ADJ
ajeer-220	21	12	-	-	ADJ
ajeer-220	21	13	acquisitions	acquisition	NOUN
ajeer-220	21	14	periods	period	NOUN
ajeer-220	21	15	.	.	PUNCT
ajeer-220	22	1	asian	asian	ADJ
ajeer-220	22	2	journal	journal	PROPN
ajeer-220	22	3	of	of	ADP
ajeer-220	22	4	economics	economic	NOUN
ajeer-220	22	5	and	and	CCONJ
ajeer-220	22	6	empirical	empirical	ADJ
ajeer-220	22	7	research	research	NOUN
ajeer-220	22	8	,	,	PUNCT
ajeer-220	22	9	3(2	3(2	NUM
ajeer-220	22	10	):	):	PUNCT
ajeer-220	22	11	130	130	NUM
ajeer-220	22	12	-	-	SYM
ajeer-220	22	13	138	138	NUM
ajeer-220	22	14	.	.	PUNCT
ajeer-220	23	1	doi	doi	NOUN
ajeer-220	23	2	:	:	PUNCT
ajeer-220	23	3	10.20448	10.20448	NUM
ajeer-220	23	4	/	/	SYM
ajeer-220	23	5	journal.501/2016.3.2/501.2.130.138	journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	23	6	issn(e	issn(e	PROPN
ajeer-220	23	7	)	)	PUNCT
ajeer-220	23	8	:	:	PUNCT
ajeer-220	23	9	2409	2409	NUM
ajeer-220	23	10	-	-	SYM
ajeer-220	23	11	2622	2622	NUM
ajeer-220	23	12	issn(p	issn(p	PROPN
ajeer-220	23	13	)	)	PUNCT
ajeer-220	23	14	:	:	PUNCT
ajeer-220	23	15	2518	2518	NUM
ajeer-220	23	16	-	-	PUNCT
ajeer-220	23	17	010x	010x	PROPN
ajeer-220	23	18	licensed	licensed	ADJ
ajeer-220	23	19	:	:	PUNCT
ajeer-220	23	20	contribution	contribution	NOUN
ajeer-220	23	21	/	/	SYM
ajeer-220	23	22	acknowledgement	acknowledgement	NOUN
ajeer-220	23	23	:	:	PUNCT
ajeer-220	23	24	this	this	DET
ajeer-220	23	25	work	work	NOUN
ajeer-220	23	26	is	be	AUX
ajeer-220	23	27	licensed	license	VERB
ajeer-220	23	28	under	under	ADP
ajeer-220	23	29	a	a	DET
ajeer-220	23	30	creative	creative	ADJ
ajeer-220	23	31	commons	common	NOUN
ajeer-220	23	32	attribution	attribution	NOUN
ajeer-220	23	33	3.0	3.0	NUM
ajeer-220	23	34	license	license	NOUN
ajeer-220	23	35	all	all	DET
ajeer-220	23	36	authors	author	NOUN
ajeer-220	23	37	contributed	contribute	VERB
ajeer-220	23	38	to	to	ADP
ajeer-220	23	39	the	the	DET
ajeer-220	23	40	conception	conception	NOUN
ajeer-220	23	41	and	and	CCONJ
ajeer-220	23	42	design	design	NOUN
ajeer-220	23	43	of	of	ADP
ajeer-220	23	44	the	the	DET
ajeer-220	23	45	study	study	NOUN
ajeer-220	23	46	.	.	PUNCT
ajeer-220	24	1	funding	funding	NOUN
ajeer-220	24	2	:	:	PUNCT
ajeer-220	24	3	this	this	DET
ajeer-220	24	4	study	study	NOUN
ajeer-220	24	5	received	receive	VERB
ajeer-220	24	6	no	no	DET
ajeer-220	24	7	specific	specific	ADJ
ajeer-220	24	8	financial	financial	ADJ
ajeer-220	24	9	support	support	NOUN
ajeer-220	24	10	.	.	PUNCT
ajeer-220	25	1	competing	compete	VERB
ajeer-220	25	2	interests	interest	NOUN
ajeer-220	25	3	:	:	PUNCT
ajeer-220	25	4	the	the	DET
ajeer-220	25	5	authors	author	NOUN
ajeer-220	25	6	declare	declare	VERB
ajeer-220	25	7	that	that	SCONJ
ajeer-220	25	8	they	they	PRON
ajeer-220	25	9	have	have	VERB
ajeer-220	25	10	no	no	DET
ajeer-220	25	11	conflict	conflict	NOUN
ajeer-220	25	12	of	of	ADP
ajeer-220	25	13	interests	interest	NOUN
ajeer-220	25	14	.	.	PUNCT
ajeer-220	26	1	transparency	transparency	NOUN
ajeer-220	26	2	:	:	PUNCT
ajeer-220	26	3	the	the	DET
ajeer-220	26	4	authors	author	NOUN
ajeer-220	26	5	confirm	confirm	VERB
ajeer-220	26	6	that	that	SCONJ
ajeer-220	26	7	the	the	DET
ajeer-220	26	8	manuscript	manuscript	NOUN
ajeer-220	26	9	is	be	AUX
ajeer-220	26	10	an	an	DET
ajeer-220	26	11	honest	honest	ADJ
ajeer-220	26	12	,	,	PUNCT
ajeer-220	26	13	accurate	accurate	ADJ
ajeer-220	26	14	,	,	PUNCT
ajeer-220	26	15	and	and	CCONJ
ajeer-220	26	16	transparent	transparent	ADJ
ajeer-220	26	17	account	account	NOUN
ajeer-220	26	18	of	of	ADP
ajeer-220	26	19	the	the	DET
ajeer-220	26	20	study	study	NOUN
ajeer-220	26	21	was	be	AUX
ajeer-220	26	22	reported	report	VERB
ajeer-220	26	23	;	;	PUNCT
ajeer-220	26	24	that	that	SCONJ
ajeer-220	26	25	no	no	DET
ajeer-220	26	26	vital	vital	ADJ
ajeer-220	26	27	features	feature	NOUN
ajeer-220	26	28	of	of	ADP
ajeer-220	26	29	the	the	DET
ajeer-220	26	30	study	study	NOUN
ajeer-220	26	31	have	have	AUX
ajeer-220	26	32	been	be	AUX
ajeer-220	26	33	omitted	omit	VERB
ajeer-220	26	34	;	;	PUNCT
ajeer-220	26	35	and	and	CCONJ
ajeer-220	26	36	that	that	SCONJ
ajeer-220	26	37	any	any	DET
ajeer-220	26	38	discrepancies	discrepancy	NOUN
ajeer-220	26	39	from	from	ADP
ajeer-220	26	40	the	the	DET
ajeer-220	26	41	study	study	NOUN
ajeer-220	26	42	as	as	SCONJ
ajeer-220	26	43	planned	plan	VERB
ajeer-220	26	44	have	have	AUX
ajeer-220	26	45	been	be	AUX
ajeer-220	26	46	explained	explain	VERB
ajeer-220	26	47	.	.	PUNCT
ajeer-220	27	1	history	history	NOUN
ajeer-220	27	2	:	:	PUNCT
ajeer-220	27	3	received	receive	VERB
ajeer-220	27	4	:	:	PUNCT
ajeer-220	27	5	19	19	NUM
ajeer-220	27	6	august	august	PROPN
ajeer-220	27	7	2016/	2016/	NUM
ajeer-220	27	8	revised	revise	VERB
ajeer-220	27	9	:	:	PUNCT
ajeer-220	27	10	24	24	NUM
ajeer-220	27	11	september	september	PROPN
ajeer-220	27	12	2016/	2016/	NUM
ajeer-220	27	13	accepted	accept	VERB
ajeer-220	27	14	:	:	PUNCT
ajeer-220	27	15	30	30	NUM
ajeer-220	27	16	september	september	PROPN
ajeer-220	27	17	2016/	2016/	NUM
ajeer-220	27	18	published	publish	VERB
ajeer-220	27	19	:	:	PUNCT
ajeer-220	27	20	13	13	NUM
ajeer-220	27	21	october	october	PROPN
ajeer-220	27	22	2016	2016	NUM
ajeer-220	27	23	ethical	ethical	ADJ
ajeer-220	27	24	:	:	PUNCT
ajeer-220	27	25	this	this	DET
ajeer-220	27	26	study	study	NOUN
ajeer-220	27	27	follows	follow	VERB
ajeer-220	27	28	all	all	DET
ajeer-220	27	29	ethical	ethical	ADJ
ajeer-220	27	30	practices	practice	NOUN
ajeer-220	27	31	during	during	ADP
ajeer-220	27	32	writing	writing	NOUN
ajeer-220	27	33	.	.	PUNCT
ajeer-220	28	1	publisher	publisher	NOUN
ajeer-220	28	2	:	:	PUNCT
ajeer-220	28	3	asian	asian	ADJ
ajeer-220	28	4	online	online	PROPN
ajeer-220	28	5	journal	journal	PROPN
ajeer-220	28	6	publishing	publishing	NOUN
ajeer-220	28	7	group	group	NOUN
ajeer-220	28	8	http://www.uswat.edu.pk/index.php/departments/management-commerce/	http://www.uswat.edu.pk/index.php/departments/management-commerce/	VERB
ajeer-220	28	9	http://creativecommons.org/licenses/by/3.0/	http://creativecommons.org/licenses/by/3.0/	PROPN
ajeer-220	28	10	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	28	11	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	28	12	ali	ali	PROPN
ajeer-220	28	13	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	28	14	khan	khan	PROPN
ajeer-220	28	15	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	28	16	khan	khan	PROPN
ajeer-220	28	17	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	29	1	ibrahim	ibrahim	PROPN
ajeer-220	29	2	alsubaie	alsubaie	PROPN
ajeer-220	29	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	30	1	subhan	subhan	PROPN
ajeer-220	30	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	30	3	kanadil	kanadil	VERB
ajeer-220	30	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	30	5	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	30	6	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	30	7	ali	ali	PROPN
ajeer-220	30	8	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	30	9	khan	khan	PROPN
ajeer-220	30	10	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	30	11	khan	khan	PROPN
ajeer-220	30	12	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	31	1	ibrahim	ibrahim	PROPN
ajeer-220	31	2	alsubaie	alsubaie	PROPN
ajeer-220	31	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	32	1	subhan	subhan	PROPN
ajeer-220	32	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	32	3	kanadil	kanadil	VERB
ajeer-220	32	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	32	5	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	32	6	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	32	7	ali	ali	PROPN
ajeer-220	32	8	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	32	9	khan	khan	PROPN
ajeer-220	32	10	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	32	11	khan	khan	PROPN
ajeer-220	32	12	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	33	1	ibrahim	ibrahim	PROPN
ajeer-220	33	2	alsubaie	alsubaie	PROPN
ajeer-220	33	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	34	1	subhan	subhan	PROPN
ajeer-220	34	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	34	3	kanadil	kanadil	VERB
ajeer-220	34	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	34	5	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	34	6	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	34	7	ali	ali	PROPN
ajeer-220	34	8	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	34	9	khan	khan	PROPN
ajeer-220	34	10	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	34	11	khan	khan	PROPN
ajeer-220	34	12	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	35	1	ibrahim	ibrahim	PROPN
ajeer-220	35	2	alsubaie	alsubaie	PROPN
ajeer-220	35	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	36	1	subhan	subhan	PROPN
ajeer-220	36	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	36	3	kanadil	kanadil	VERB
ajeer-220	36	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	36	5	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	36	6	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	36	7	ali	ali	PROPN
ajeer-220	36	8	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	36	9	khan	khan	PROPN
ajeer-220	36	10	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	36	11	khan	khan	PROPN
ajeer-220	36	12	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	37	1	ibrahim	ibrahim	PROPN
ajeer-220	37	2	alsubaie	alsubaie	PROPN
ajeer-220	37	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	38	1	subhan	subhan	PROPN
ajeer-220	38	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	38	3	kanadil	kanadil	VERB
ajeer-220	38	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	38	5	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	38	6	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	38	7	ali	ali	PROPN
ajeer-220	38	8	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	38	9	khan	khan	PROPN
ajeer-220	38	10	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	38	11	khan	khan	PROPN
ajeer-220	38	12	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	39	1	ibrahim	ibrahim	PROPN
ajeer-220	39	2	alsubaie	alsubaie	PROPN
ajeer-220	39	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	40	1	subhan	subhan	PROPN
ajeer-220	40	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	40	3	kanadil	kanadil	VERB
ajeer-220	40	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	40	5	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	40	6	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	40	7	ali	ali	PROPN
ajeer-220	40	8	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	40	9	khan	khan	PROPN
ajeer-220	40	10	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	40	11	khan	khan	PROPN
ajeer-220	40	12	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	41	1	ibrahim	ibrahim	PROPN
ajeer-220	41	2	alsubaie	alsubaie	PROPN
ajeer-220	41	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	42	1	subhan	subhan	PROPN
ajeer-220	42	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	42	3	kanadil	kanadil	VERB
ajeer-220	42	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	42	5	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	http://crossmark.crossref.org/dialog/?doi=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	42	6	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	https://orcid.org/orcid-search/quick-search?searchquery=khurshid	PROPN
ajeer-220	42	7	ali	ali	PROPN
ajeer-220	42	8	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	https://orcid.org/orcid-search/quick-search?searchquery=zeeshan	PROPN
ajeer-220	42	9	khan	khan	PROPN
ajeer-220	42	10	https://orcid.org/orcid-search/quick-search?searchquery=numan	https://orcid.org/orcid-search/quick-search?searchquery=numan	PROPN
ajeer-220	42	11	khan	khan	PROPN
ajeer-220	42	12	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	https://orcid.org/orcid-search/quick-search?searchquery=abdul-hamid	X
ajeer-220	43	1	ibrahim	ibrahim	PROPN
ajeer-220	43	2	alsubaie	alsubaie	PROPN
ajeer-220	43	3	https://orcid.org/orcid-search/quick-search?searchquery=fazal	https://orcid.org/orcid-search/quick-search?searchquery=fazal	PROPN
ajeer-220	44	1	subhan	subhan	PROPN
ajeer-220	44	2	https://orcid.org/orcid-search/quick-search?searchquery=moumen	https://orcid.org/orcid-search/quick-search?searchquery=moumen	PROPN
ajeer-220	44	3	kanadil	kanadil	VERB
ajeer-220	44	4	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	http://search.crossref.org/?q=10.20448/journal.501/2016.3.2/501.2.130.138	PROPN
ajeer-220	44	5	asian	asian	ADJ
ajeer-220	44	6	journal	journal	NOUN
ajeer-220	44	7	of	of	ADP
ajeer-220	44	8	economics	economic	NOUN
ajeer-220	44	9	and	and	CCONJ
ajeer-220	44	10	empirical	empirical	ADJ
ajeer-220	44	11	research	research	NOUN
ajeer-220	44	12	,	,	PUNCT
ajeer-220	44	13	2016	2016	NUM
ajeer-220	44	14	,	,	PUNCT
ajeer-220	44	15	3(2):130	3(2):130	NUM
ajeer-220	44	16	-	-	SYM
ajeer-220	44	17	138	138	NUM
ajeer-220	44	18	131	131	NUM
ajeer-220	44	19	1	1	NUM
ajeer-220	44	20	.	.	PUNCT
ajeer-220	45	1	introduction	introduction	NOUN
ajeer-220	45	2	companies	company	NOUN
ajeer-220	45	3	from	from	ADP
ajeer-220	45	4	across	across	ADP
ajeer-220	45	5	the	the	DET
ajeer-220	45	6	world	world	NOUN
ajeer-220	45	7	are	be	AUX
ajeer-220	45	8	increasingly	increasingly	ADV
ajeer-220	45	9	looking	look	VERB
ajeer-220	45	10	to	to	ADP
ajeer-220	45	11	mergers	merger	NOUN
ajeer-220	45	12	and	and	CCONJ
ajeer-220	45	13	acquisitions	acquisition	NOUN
ajeer-220	45	14	(	(	PUNCT
ajeer-220	45	15	m&as	m&as	NOUN
ajeer-220	45	16	)	)	PUNCT
ajeer-220	45	17	as	as	ADP
ajeer-220	45	18	one	one	NUM
ajeer-220	45	19	of	of	ADP
ajeer-220	45	20	the	the	DET
ajeer-220	45	21	most	most	ADV
ajeer-220	45	22	appropriate	appropriate	ADJ
ajeer-220	45	23	means	mean	NOUN
ajeer-220	45	24	for	for	ADP
ajeer-220	45	25	strategic	strategic	ADJ
ajeer-220	45	26	expansion	expansion	NOUN
ajeer-220	45	27	into	into	ADP
ajeer-220	45	28	other	other	ADJ
ajeer-220	45	29	markets	market	NOUN
ajeer-220	45	30	(	(	PUNCT
ajeer-220	45	31	reynolds	reynold	NOUN
ajeer-220	45	32	and	and	CCONJ
ajeer-220	45	33	teerikangas	teerikangas	NOUN
ajeer-220	45	34	,	,	PUNCT
ajeer-220	45	35	2016	2016	NUM
ajeer-220	45	36	)	)	PUNCT
ajeer-220	45	37	.	.	PUNCT
ajeer-220	46	1	as	as	SCONJ
ajeer-220	46	2	m&as	m&as	PROPN
ajeer-220	46	3	provide	provide	VERB
ajeer-220	46	4	greater	great	ADJ
ajeer-220	46	5	opportunities	opportunity	NOUN
ajeer-220	46	6	for	for	SCONJ
ajeer-220	46	7	companies	company	NOUN
ajeer-220	46	8	to	to	PART
ajeer-220	46	9	enter	enter	VERB
ajeer-220	46	10	international	international	ADJ
ajeer-220	46	11	markets	market	NOUN
ajeer-220	46	12	to	to	PART
ajeer-220	46	13	build	build	VERB
ajeer-220	46	14	new	new	ADJ
ajeer-220	46	15	competencies	competency	NOUN
ajeer-220	46	16	and	and	CCONJ
ajeer-220	46	17	capabilities	capability	NOUN
ajeer-220	46	18	as	as	ADV
ajeer-220	46	19	well	well	ADV
ajeer-220	46	20	as	as	ADP
ajeer-220	46	21	to	to	PART
ajeer-220	46	22	reach	reach	VERB
ajeer-220	46	23	their	their	PRON
ajeer-220	46	24	global	global	ADJ
ajeer-220	46	25	clients	client	NOUN
ajeer-220	46	26	(	(	PUNCT
ajeer-220	46	27	singla	singla	NOUN
ajeer-220	46	28	et	et	PROPN
ajeer-220	46	29	al	al	PROPN
ajeer-220	46	30	.	.	PROPN
ajeer-220	46	31	,	,	PUNCT
ajeer-220	46	32	2012	2012	NUM
ajeer-220	46	33	)	)	PUNCT
ajeer-220	46	34	.	.	PUNCT
ajeer-220	47	1	among	among	ADP
ajeer-220	47	2	developed	develop	VERB
ajeer-220	47	3	countries	country	NOUN
ajeer-220	47	4	uk	uk	PROPN
ajeer-220	47	5	’s	’s	PART
ajeer-220	47	6	companies	company	NOUN
ajeer-220	47	7	in	in	ADP
ajeer-220	47	8	particular	particular	ADJ
ajeer-220	47	9	showed	show	VERB
ajeer-220	47	10	greater	great	ADJ
ajeer-220	47	11	interest	interest	NOUN
ajeer-220	47	12	in	in	ADP
ajeer-220	47	13	m&as	m&as	PROPN
ajeer-220	47	14	across	across	ADP
ajeer-220	47	15	the	the	DET
ajeer-220	47	16	world	world	NOUN
ajeer-220	47	17	which	which	PRON
ajeer-220	47	18	is	be	AUX
ajeer-220	47	19	evident	evident	ADJ
ajeer-220	47	20	from	from	ADP
ajeer-220	47	21	the	the	DET
ajeer-220	47	22	acquisition	acquisition	NOUN
ajeer-220	47	23	of	of	ADP
ajeer-220	47	24	7,026	7,026	NUM
ajeer-220	47	25	companies	company	NOUN
ajeer-220	47	26	by	by	ADP
ajeer-220	47	27	uk	uk	PROPN
ajeer-220	47	28	acquirer	acquirer	NOUN
ajeer-220	47	29	companies	company	NOUN
ajeer-220	47	30	during	during	ADP
ajeer-220	47	31	1996	1996	NUM
ajeer-220	47	32	to	to	ADP
ajeer-220	47	33	2005	2005	NUM
ajeer-220	47	34	while	while	SCONJ
ajeer-220	47	35	the	the	DET
ajeer-220	47	36	number	number	NOUN
ajeer-220	47	37	of	of	ADP
ajeer-220	47	38	deals	deal	NOUN
ajeer-220	47	39	further	far	ADV
ajeer-220	47	40	raised	raise	VERB
ajeer-220	47	41	to	to	ADP
ajeer-220	47	42	1008	1008	NUM
ajeer-220	47	43	during	during	ADP
ajeer-220	47	44	2006	2006	NUM
ajeer-220	47	45	(	(	PUNCT
ajeer-220	47	46	ahammad	ahammad	NOUN
ajeer-220	47	47	and	and	CCONJ
ajeer-220	47	48	glaister	glaister	NOUN
ajeer-220	47	49	,	,	PUNCT
ajeer-220	47	50	2008	2008	NUM
ajeer-220	47	51	)	)	PUNCT
ajeer-220	47	52	.	.	PUNCT
ajeer-220	48	1	moreover	moreover	ADV
ajeer-220	48	2	,	,	PUNCT
ajeer-220	48	3	the	the	DET
ajeer-220	48	4	post	post	NOUN
ajeer-220	48	5	-	-	NOUN
ajeer-220	48	6	recession	recession	ADJ
ajeer-220	48	7	(	(	PUNCT
ajeer-220	48	8	2007/08	2007/08	NUM
ajeer-220	48	9	)	)	PUNCT
ajeer-220	48	10	scenario	scenario	NOUN
ajeer-220	48	11	shows	show	VERB
ajeer-220	48	12	an	an	DET
ajeer-220	48	13	increasing	increase	VERB
ajeer-220	48	14	trend	trend	NOUN
ajeer-220	48	15	in	in	ADP
ajeer-220	48	16	merger	merger	NOUN
ajeer-220	48	17	and	and	CCONJ
ajeer-220	48	18	acquisition	acquisition	NOUN
ajeer-220	48	19	as	as	SCONJ
ajeer-220	48	20	revealed	reveal	VERB
ajeer-220	48	21	by	by	ADP
ajeer-220	48	22	bloomberg	bloomberg	PROPN
ajeer-220	48	23	(	(	PUNCT
ajeer-220	48	24	2015	2015	NUM
ajeer-220	48	25	)	)	PUNCT
ajeer-220	48	26	that	that	SCONJ
ajeer-220	48	27	$	$	SYM
ajeer-220	48	28	467	467	NUM
ajeer-220	48	29	billion	billion	NUM
ajeer-220	48	30	worth	worth	NOUN
ajeer-220	48	31	of	of	ADP
ajeer-220	48	32	m&as	m&as	NOUN
ajeer-220	48	33	deals	deal	NOUN
ajeer-220	48	34	have	have	AUX
ajeer-220	48	35	been	be	AUX
ajeer-220	48	36	announced	announce	VERB
ajeer-220	48	37	in	in	ADP
ajeer-220	48	38	the	the	DET
ajeer-220	48	39	first	first	ADJ
ajeer-220	48	40	quarter	quarter	NOUN
ajeer-220	48	41	of	of	ADP
ajeer-220	48	42	2015	2015	NUM
ajeer-220	48	43	which	which	PRON
ajeer-220	48	44	is	be	AUX
ajeer-220	48	45	predicted	predict	VERB
ajeer-220	48	46	to	to	PART
ajeer-220	48	47	even	even	ADV
ajeer-220	48	48	over	over	ADV
ajeer-220	48	49	take	take	VERB
ajeer-220	48	50	pre	pre	ADJ
ajeer-220	48	51	-	-	ADJ
ajeer-220	48	52	recession	recession	ADJ
ajeer-220	48	53	growth	growth	NOUN
ajeer-220	48	54	witnessed	witness	VERB
ajeer-220	48	55	during	during	ADP
ajeer-220	48	56	2007	2007	NUM
ajeer-220	48	57	;	;	PUNCT
ajeer-220	48	58	majority	majority	NOUN
ajeer-220	48	59	of	of	ADP
ajeer-220	48	60	the	the	DET
ajeer-220	48	61	deals	deal	NOUN
ajeer-220	48	62	were	be	AUX
ajeer-220	48	63	executed	execute	VERB
ajeer-220	48	64	in	in	ADP
ajeer-220	48	65	either	either	CCONJ
ajeer-220	48	66	usa	usa	PROPN
ajeer-220	48	67	or	or	CCONJ
ajeer-220	48	68	uk	uk	PROPN
ajeer-220	48	69	which	which	PRON
ajeer-220	48	70	can	can	AUX
ajeer-220	48	71	be	be	AUX
ajeer-220	48	72	attributable	attributable	ADJ
ajeer-220	48	73	to	to	ADP
ajeer-220	48	74	the	the	DET
ajeer-220	48	75	free	free	ADJ
ajeer-220	48	76	market	market	NOUN
ajeer-220	48	77	and	and	CCONJ
ajeer-220	48	78	corporate	corporate	ADJ
ajeer-220	48	79	friendly	friendly	ADJ
ajeer-220	48	80	practices	practice	NOUN
ajeer-220	48	81	in	in	ADP
ajeer-220	48	82	both	both	PRON
ajeer-220	48	83	of	of	ADP
ajeer-220	48	84	the	the	DET
ajeer-220	48	85	economies	economy	NOUN
ajeer-220	48	86	.	.	PUNCT
ajeer-220	49	1	however	however	ADV
ajeer-220	49	2	,	,	PUNCT
ajeer-220	49	3	one	one	NUM
ajeer-220	49	4	third	third	NOUN
ajeer-220	49	5	of	of	ADP
ajeer-220	49	6	all	all	DET
ajeer-220	49	7	m&as	m&as	NOUN
ajeer-220	49	8	deals	deal	NOUN
ajeer-220	49	9	announced	announce	VERB
ajeer-220	49	10	during	during	ADP
ajeer-220	49	11	2014	2014	NUM
ajeer-220	49	12	in	in	ADP
ajeer-220	49	13	europe	europe	PROPN
ajeer-220	49	14	collapsed	collapse	VERB
ajeer-220	49	15	at	at	ADP
ajeer-220	49	16	the	the	DET
ajeer-220	49	17	final	final	ADJ
ajeer-220	49	18	stages	stage	NOUN
ajeer-220	49	19	of	of	ADP
ajeer-220	49	20	execution	execution	NOUN
ajeer-220	49	21	where	where	SCONJ
ajeer-220	49	22	some	some	PRON
ajeer-220	49	23	of	of	ADP
ajeer-220	49	24	the	the	DET
ajeer-220	49	25	biggest	big	ADJ
ajeer-220	49	26	deals	deal	NOUN
ajeer-220	49	27	even	even	ADV
ajeer-220	49	28	failed	fail	VERB
ajeer-220	49	29	to	to	PART
ajeer-220	49	30	meet	meet	VERB
ajeer-220	49	31	the	the	DET
ajeer-220	49	32	market	market	NOUN
ajeer-220	49	33	expectations	expectation	NOUN
ajeer-220	49	34	.	.	PUNCT
ajeer-220	50	1	for	for	ADP
ajeer-220	50	2	example	example	NOUN
ajeer-220	50	3	,	,	PUNCT
ajeer-220	50	4	pfizer	pfizer	PROPN
ajeer-220	50	5	’s	’s	PART
ajeer-220	50	6	$	$	SYM
ajeer-220	50	7	53	53	NUM
ajeer-220	50	8	billion	billion	NUM
ajeer-220	50	9	bid	bid	NOUN
ajeer-220	50	10	for	for	ADP
ajeer-220	50	11	astrazeneca	astrazeneca	NOUN
ajeer-220	50	12	made	make	VERB
ajeer-220	50	13	a	a	DET
ajeer-220	50	14	lot	lot	NOUN
ajeer-220	50	15	of	of	ADP
ajeer-220	50	16	buzz	buzz	NOUN
ajeer-220	50	17	in	in	ADP
ajeer-220	50	18	the	the	DET
ajeer-220	50	19	market	market	NOUN
ajeer-220	50	20	but	but	CCONJ
ajeer-220	50	21	soon	soon	ADV
ajeer-220	50	22	the	the	DET
ajeer-220	50	23	us	us	PROPN
ajeer-220	50	24	drug	drug	NOUN
ajeer-220	50	25	maker	maker	NOUN
ajeer-220	50	26	’s	’s	PART
ajeer-220	50	27	takeover	takeover	NOUN
ajeer-220	50	28	passion	passion	NOUN
ajeer-220	50	29	fell	fall	VERB
ajeer-220	50	30	flat	flat	ADJ
ajeer-220	50	31	in	in	ADP
ajeer-220	50	32	front	front	NOUN
ajeer-220	50	33	of	of	ADP
ajeer-220	50	34	the	the	DET
ajeer-220	50	35	uk	uk	PROPN
ajeer-220	50	36	takeover	takeover	NOUN
ajeer-220	50	37	panel	panel	NOUN
ajeer-220	50	38	’s	’s	PART
ajeer-220	50	39	rules	rule	NOUN
ajeer-220	50	40	(	(	PUNCT
ajeer-220	50	41	the	the	DET
ajeer-220	50	42	telegraph	telegraph	NOUN
ajeer-220	50	43	,	,	PUNCT
ajeer-220	50	44	2014	2014	NUM
ajeer-220	50	45	)	)	PUNCT
ajeer-220	50	46	.	.	PUNCT
ajeer-220	51	1	throughout	throughout	ADP
ajeer-220	51	2	the	the	DET
ajeer-220	51	3	history	history	NOUN
ajeer-220	51	4	of	of	ADP
ajeer-220	51	5	m&as	m&as	PROPN
ajeer-220	51	6	,	,	PUNCT
ajeer-220	51	7	uk	uk	PROPN
ajeer-220	51	8	in	in	ADP
ajeer-220	51	9	particular	particular	ADJ
ajeer-220	51	10	remained	remain	VERB
ajeer-220	51	11	a	a	DET
ajeer-220	51	12	breeding	breeding	NOUN
ajeer-220	51	13	ground	ground	NOUN
ajeer-220	51	14	for	for	ADP
ajeer-220	51	15	m&as	m&as	PROPN
ajeer-220	51	16	activities	activity	NOUN
ajeer-220	51	17	as	as	ADP
ajeer-220	51	18	evident	evident	ADJ
ajeer-220	51	19	from	from	ADP
ajeer-220	51	20	research	research	NOUN
ajeer-220	51	21	literature	literature	NOUN
ajeer-220	51	22	that	that	SCONJ
ajeer-220	51	23	during	during	ADP
ajeer-220	51	24	1995	1995	NUM
ajeer-220	51	25	to	to	ADP
ajeer-220	51	26	2005	2005	NUM
ajeer-220	51	27	uk	uk	PROPN
ajeer-220	51	28	companies	company	NOUN
ajeer-220	51	29	had	have	VERB
ajeer-220	51	30	the	the	DET
ajeer-220	51	31	highest	high	ADJ
ajeer-220	51	32	merger	merger	NOUN
ajeer-220	51	33	and	and	CCONJ
ajeer-220	51	34	acquisitions	acquisition	NOUN
ajeer-220	51	35	deals	deal	NOUN
ajeer-220	51	36	in	in	ADP
ajeer-220	51	37	the	the	DET
ajeer-220	51	38	usa	usa	PROPN
ajeer-220	51	39	,	,	PUNCT
ajeer-220	51	40	europe	europe	PROPN
ajeer-220	51	41	and	and	CCONJ
ajeer-220	51	42	asia	asia	PROPN
ajeer-220	51	43	pacific	pacific	PROPN
ajeer-220	51	44	region	region	PROPN
ajeer-220	51	45	(	(	PUNCT
ajeer-220	51	46	ahammad	ahammad	NOUN
ajeer-220	51	47	and	and	CCONJ
ajeer-220	51	48	glaister	glaister	NOUN
ajeer-220	51	49	,	,	PUNCT
ajeer-220	51	50	2008	2008	NUM
ajeer-220	51	51	)	)	PUNCT
ajeer-220	51	52	.	.	PUNCT
ajeer-220	52	1	this	this	DET
ajeer-220	52	2	trend	trend	NOUN
ajeer-220	52	3	was	be	AUX
ajeer-220	52	4	fueled	fuel	VERB
ajeer-220	52	5	by	by	ADP
ajeer-220	52	6	many	many	ADJ
ajeer-220	52	7	determinants	determinant	NOUN
ajeer-220	52	8	however	however	ADV
ajeer-220	52	9	the	the	DET
ajeer-220	52	10	more	more	ADV
ajeer-220	52	11	encouraging	encouraging	ADJ
ajeer-220	52	12	determinant	determinant	NOUN
ajeer-220	52	13	of	of	ADP
ajeer-220	52	14	m&a	m&a	PROPN
ajeer-220	52	15	for	for	ADP
ajeer-220	52	16	uk	uk	PROPN
ajeer-220	52	17	companies	company	NOUN
ajeer-220	52	18	was	be	AUX
ajeer-220	52	19	to	to	PART
ajeer-220	52	20	acquire	acquire	VERB
ajeer-220	52	21	more	more	ADJ
ajeer-220	52	22	market	market	NOUN
ajeer-220	52	23	share	share	NOUN
ajeer-220	52	24	in	in	ADP
ajeer-220	52	25	order	order	NOUN
ajeer-220	52	26	to	to	PART
ajeer-220	52	27	gain	gain	VERB
ajeer-220	52	28	long	long	ADJ
ajeer-220	52	29	term	term	NOUN
ajeer-220	52	30	financial	financial	ADJ
ajeer-220	52	31	objectives	objective	NOUN
ajeer-220	52	32	as	as	ADV
ajeer-220	52	33	well	well	ADV
ajeer-220	52	34	as	as	ADP
ajeer-220	52	35	to	to	PART
ajeer-220	52	36	maintain	maintain	VERB
ajeer-220	52	37	global	global	ADJ
ajeer-220	52	38	presence	presence	NOUN
ajeer-220	52	39	in	in	ADP
ajeer-220	52	40	order	order	NOUN
ajeer-220	52	41	to	to	PART
ajeer-220	52	42	remain	remain	VERB
ajeer-220	52	43	competitive	competitive	ADJ
ajeer-220	52	44	(	(	PUNCT
ajeer-220	52	45	jansson	jansson	PROPN
ajeer-220	52	46	et	et	PROPN
ajeer-220	52	47	al	al	PROPN
ajeer-220	52	48	.	.	PROPN
ajeer-220	52	49	,	,	PUNCT
ajeer-220	52	50	1994	1994	NUM
ajeer-220	52	51	)	)	PUNCT
ajeer-220	52	52	.	.	PUNCT
ajeer-220	53	1	even	even	ADV
ajeer-220	53	2	in	in	ADP
ajeer-220	53	3	the	the	DET
ajeer-220	53	4	post	post	ADJ
ajeer-220	53	5	-	-	ADJ
ajeer-220	53	6	recession	recession	ADJ
ajeer-220	53	7	period	period	NOUN
ajeer-220	53	8	the	the	DET
ajeer-220	53	9	uk	uk	PROPN
ajeer-220	53	10	economy	economy	NOUN
ajeer-220	53	11	shows	show	VERB
ajeer-220	53	12	higher	high	ADJ
ajeer-220	53	13	surge	surge	NOUN
ajeer-220	53	14	in	in	ADP
ajeer-220	53	15	m&as	m&as	PROPN
ajeer-220	53	16	activities	activity	NOUN
ajeer-220	53	17	as	as	ADP
ajeer-220	53	18	in	in	ADP
ajeer-220	53	19	the	the	DET
ajeer-220	53	20	first	first	ADJ
ajeer-220	53	21	quarter	quarter	NOUN
ajeer-220	53	22	of	of	ADP
ajeer-220	53	23	2014	2014	NUM
ajeer-220	53	24	£	£	SYM
ajeer-220	53	25	37.5	37.5	NUM
ajeer-220	53	26	billion	billion	NUM
ajeer-220	53	27	worth	worth	NOUN
ajeer-220	53	28	of	of	ADP
ajeer-220	53	29	m&a	m&a	PROPN
ajeer-220	53	30	deals	deal	NOUN
ajeer-220	53	31	were	be	AUX
ajeer-220	53	32	struck	strike	VERB
ajeer-220	53	33	which	which	PRON
ajeer-220	53	34	is	be	AUX
ajeer-220	53	35	by	by	ADP
ajeer-220	53	36	far	far	ADV
ajeer-220	53	37	the	the	DET
ajeer-220	53	38	largest	large	ADJ
ajeer-220	53	39	development	development	NOUN
ajeer-220	53	40	since	since	SCONJ
ajeer-220	53	41	2007	2007	NUM
ajeer-220	53	42	.	.	PUNCT
ajeer-220	54	1	the	the	DET
ajeer-220	54	2	uk	uk	PROPN
ajeer-220	54	3	’s	’s	PART
ajeer-220	54	4	healthcare	healthcare	NOUN
ajeer-220	54	5	sector	sector	NOUN
ajeer-220	54	6	witnessed	witness	VERB
ajeer-220	54	7	the	the	DET
ajeer-220	54	8	largest	large	ADJ
ajeer-220	54	9	m&as	m&as	NOUN
ajeer-220	54	10	activities	activity	NOUN
ajeer-220	54	11	accounted	account	VERB
ajeer-220	54	12	for	for	ADP
ajeer-220	54	13	26.9	26.9	NUM
ajeer-220	54	14	percent	percent	NOUN
ajeer-220	54	15	of	of	ADP
ajeer-220	54	16	the	the	DET
ajeer-220	54	17	preceding	precede	VERB
ajeer-220	54	18	figure	figure	NOUN
ajeer-220	54	19	where	where	SCONJ
ajeer-220	54	20	the	the	DET
ajeer-220	54	21	sale	sale	NOUN
ajeer-220	54	22	of	of	ADP
ajeer-220	54	23	glaxosmithkline	glaxosmithkline	PROPN
ajeer-220	54	24	’s	’s	PART
ajeer-220	54	25	oncology	oncology	NOUN
ajeer-220	54	26	division	division	NOUN
ajeer-220	54	27	to	to	ADP
ajeer-220	54	28	novartis	novartis	NOUN
ajeer-220	54	29	for	for	ADP
ajeer-220	54	30	£	£	SYM
ajeer-220	54	31	8.6	8.6	NUM
ajeer-220	54	32	billion	billion	NUM
ajeer-220	54	33	was	be	AUX
ajeer-220	54	34	one	one	NUM
ajeer-220	54	35	of	of	ADP
ajeer-220	54	36	the	the	DET
ajeer-220	54	37	mega	mega	ADJ
ajeer-220	54	38	mergers	merger	NOUN
ajeer-220	54	39	(	(	PUNCT
ajeer-220	54	40	raconteur	raconteur	PROPN
ajeer-220	54	41	,	,	PUNCT
ajeer-220	54	42	2014	2014	NUM
ajeer-220	54	43	)	)	PUNCT
ajeer-220	54	44	.	.	PUNCT
ajeer-220	55	1	the	the	DET
ajeer-220	55	2	surge	surge	NOUN
ajeer-220	55	3	in	in	ADP
ajeer-220	55	4	m&as	m&as	NOUN
ajeer-220	55	5	deals	deal	NOUN
ajeer-220	55	6	is	be	AUX
ajeer-220	55	7	contributable	contributable	ADJ
ajeer-220	55	8	to	to	ADP
ajeer-220	55	9	the	the	DET
ajeer-220	55	10	rather	rather	ADV
ajeer-220	55	11	healthy	healthy	ADJ
ajeer-220	55	12	economic	economic	ADJ
ajeer-220	55	13	indicators	indicator	NOUN
ajeer-220	55	14	prevalent	prevalent	ADJ
ajeer-220	55	15	in	in	ADP
ajeer-220	55	16	the	the	DET
ajeer-220	55	17	uk	uk	PROPN
ajeer-220	55	18	as	as	ADP
ajeer-220	55	19	institutions	institution	NOUN
ajeer-220	55	20	and	and	CCONJ
ajeer-220	55	21	investors	investor	NOUN
ajeer-220	55	22	alike	alike	ADV
ajeer-220	55	23	looking	look	VERB
ajeer-220	55	24	for	for	ADP
ajeer-220	55	25	avenues	avenue	NOUN
ajeer-220	55	26	to	to	PART
ajeer-220	55	27	generate	generate	VERB
ajeer-220	55	28	higher	high	ADJ
ajeer-220	55	29	return	return	NOUN
ajeer-220	55	30	on	on	ADP
ajeer-220	55	31	their	their	PRON
ajeer-220	55	32	long	long	ADJ
ajeer-220	55	33	kept	keep	VERB
ajeer-220	55	34	capital	capital	NOUN
ajeer-220	55	35	.	.	PUNCT
ajeer-220	56	1	uddin	uddin	PROPN
ajeer-220	56	2	and	and	CCONJ
ajeer-220	56	3	boateng	boateng	PROPN
ajeer-220	56	4	(	(	PUNCT
ajeer-220	56	5	2011	2011	NUM
ajeer-220	56	6	)	)	PUNCT
ajeer-220	56	7	has	have	AUX
ajeer-220	56	8	empirically	empirically	ADV
ajeer-220	56	9	supported	support	VERB
ajeer-220	56	10	this	this	PRON
ajeer-220	56	11	by	by	ADP
ajeer-220	56	12	arguing	argue	VERB
ajeer-220	56	13	that	that	SCONJ
ajeer-220	56	14	gdp	gdp	NOUN
ajeer-220	56	15	,	,	PUNCT
ajeer-220	56	16	money	money	NOUN
ajeer-220	56	17	supply	supply	NOUN
ajeer-220	56	18	and	and	CCONJ
ajeer-220	56	19	share	share	NOUN
ajeer-220	56	20	price	price	NOUN
ajeer-220	56	21	have	have	VERB
ajeer-220	56	22	statistically	statistically	ADV
ajeer-220	56	23	significant	significant	ADJ
ajeer-220	56	24	influence	influence	NOUN
ajeer-220	56	25	on	on	ADP
ajeer-220	56	26	the	the	DET
ajeer-220	56	27	level	level	NOUN
ajeer-220	56	28	of	of	ADP
ajeer-220	56	29	uk	uk	PROPN
ajeer-220	56	30	’s	’s	PART
ajeer-220	56	31	mergers	merger	NOUN
ajeer-220	56	32	and	and	CCONJ
ajeer-220	56	33	acquisitions	acquisition	NOUN
ajeer-220	56	34	activities	activity	NOUN
ajeer-220	56	35	across	across	ADP
ajeer-220	56	36	the	the	DET
ajeer-220	56	37	world	world	NOUN
ajeer-220	56	38	.	.	PUNCT
ajeer-220	57	1	in	in	ADP
ajeer-220	57	2	spite	spite	NOUN
ajeer-220	57	3	of	of	ADP
ajeer-220	57	4	the	the	DET
ajeer-220	57	5	surge	surge	NOUN
ajeer-220	57	6	in	in	ADP
ajeer-220	57	7	m&as	m&as	PROPN
ajeer-220	57	8	across	across	ADP
ajeer-220	57	9	the	the	DET
ajeer-220	57	10	world	world	NOUN
ajeer-220	57	11	,	,	PUNCT
ajeer-220	57	12	it	it	PRON
ajeer-220	57	13	is	be	AUX
ajeer-220	57	14	still	still	ADV
ajeer-220	57	15	ambiguous	ambiguous	ADJ
ajeer-220	57	16	whether	whether	SCONJ
ajeer-220	57	17	m&as	m&as	PROPN
ajeer-220	57	18	result	result	VERB
ajeer-220	57	19	in	in	ADP
ajeer-220	57	20	value	value	NOUN
ajeer-220	57	21	creation	creation	NOUN
ajeer-220	57	22	for	for	ADP
ajeer-220	57	23	shareholders	shareholder	NOUN
ajeer-220	57	24	.	.	PUNCT
ajeer-220	58	1	as	as	SCONJ
ajeer-220	58	2	many	many	ADJ
ajeer-220	58	3	researchers	researcher	NOUN
ajeer-220	58	4	advocate	advocate	VERB
ajeer-220	58	5	that	that	SCONJ
ajeer-220	58	6	agency	agency	NOUN
ajeer-220	58	7	problems	problem	NOUN
ajeer-220	58	8	overwhelm	overwhelm	VERB
ajeer-220	58	9	and	and	CCONJ
ajeer-220	58	10	often	often	ADV
ajeer-220	58	11	ignore	ignore	VERB
ajeer-220	58	12	the	the	DET
ajeer-220	58	13	objectives	objective	NOUN
ajeer-220	58	14	of	of	ADP
ajeer-220	58	15	m&as	m&as	NOUN
ajeer-220	58	16	to	to	PART
ajeer-220	58	17	create	create	VERB
ajeer-220	58	18	shareholders	shareholder	NOUN
ajeer-220	58	19	value	value	NOUN
ajeer-220	58	20	(	(	PUNCT
ajeer-220	58	21	danbolt	danbolt	NOUN
ajeer-220	58	22	,	,	PUNCT
ajeer-220	58	23	2004	2004	NUM
ajeer-220	58	24	)	)	PUNCT
ajeer-220	58	25	.	.	PUNCT
ajeer-220	59	1	the	the	DET
ajeer-220	59	2	management	management	NOUN
ajeer-220	59	3	of	of	ADP
ajeer-220	59	4	bidding	bidding	NOUN
ajeer-220	59	5	company	company	NOUN
ajeer-220	59	6	often	often	ADV
ajeer-220	59	7	pursue	pursue	VERB
ajeer-220	59	8	their	their	PRON
ajeer-220	59	9	own	own	ADJ
ajeer-220	59	10	utility	utility	NOUN
ajeer-220	59	11	maximization	maximization	NOUN
ajeer-220	59	12	through	through	ADP
ajeer-220	59	13	acquisition	acquisition	NOUN
ajeer-220	59	14	that	that	PRON
ajeer-220	59	15	may	may	AUX
ajeer-220	59	16	include	include	VERB
ajeer-220	59	17	increasing	increase	VERB
ajeer-220	59	18	their	their	PRON
ajeer-220	59	19	own	own	ADJ
ajeer-220	59	20	power	power	NOUN
ajeer-220	59	21	,	,	PUNCT
ajeer-220	59	22	status	status	NOUN
ajeer-220	59	23	and	and	CCONJ
ajeer-220	59	24	salary	salary	NOUN
ajeer-220	59	25	etc	etc	X
ajeer-220	59	26	.	.	PUNCT
ajeer-220	60	1	other	other	ADJ
ajeer-220	60	2	researchers	researcher	NOUN
ajeer-220	60	3	such	such	ADJ
ajeer-220	60	4	as	as	ADP
ajeer-220	60	5	firth	firth	PROPN
ajeer-220	60	6	(	(	PUNCT
ajeer-220	60	7	1991	1991	NUM
ajeer-220	60	8	)	)	PUNCT
ajeer-220	60	9	and	and	CCONJ
ajeer-220	60	10	bliss	bliss	PROPN
ajeer-220	60	11	and	and	CCONJ
ajeer-220	60	12	rosen	rosen	PROPN
ajeer-220	60	13	(	(	PUNCT
ajeer-220	60	14	2001	2001	NUM
ajeer-220	60	15	)	)	PUNCT
ajeer-220	60	16	cited	cite	VERB
ajeer-220	60	17	by	by	ADP
ajeer-220	60	18	danbolt	danbolt	NOUN
ajeer-220	60	19	(	(	PUNCT
ajeer-220	60	20	2004	2004	NUM
ajeer-220	60	21	)	)	PUNCT
ajeer-220	60	22	also	also	ADV
ajeer-220	60	23	support	support	VERB
ajeer-220	60	24	the	the	DET
ajeer-220	60	25	argument	argument	NOUN
ajeer-220	60	26	that	that	PRON
ajeer-220	60	27	cross	cross	VERB
ajeer-220	60	28	border	border	NOUN
ajeer-220	60	29	mergers	merger	NOUN
ajeer-220	60	30	and	and	CCONJ
ajeer-220	60	31	acquisitions	acquisition	NOUN
ajeer-220	60	32	often	often	ADV
ajeer-220	60	33	found	find	VERB
ajeer-220	60	34	to	to	PART
ajeer-220	60	35	be	be	AUX
ajeer-220	60	36	benefiting	benefit	VERB
ajeer-220	60	37	managers	manager	NOUN
ajeer-220	60	38	rather	rather	ADV
ajeer-220	60	39	than	than	ADP
ajeer-220	60	40	shareholders	shareholder	NOUN
ajeer-220	60	41	as	as	SCONJ
ajeer-220	60	42	managers	manager	NOUN
ajeer-220	60	43	of	of	ADP
ajeer-220	60	44	the	the	DET
ajeer-220	60	45	bidding	bidding	NOUN
ajeer-220	60	46	company	company	NOUN
ajeer-220	60	47	often	often	ADV
ajeer-220	60	48	overestimate	overestimate	VERB
ajeer-220	60	49	the	the	DET
ajeer-220	60	50	value	value	NOUN
ajeer-220	60	51	of	of	ADP
ajeer-220	60	52	the	the	DET
ajeer-220	60	53	economic	economic	ADJ
ajeer-220	60	54	benefit	benefit	NOUN
ajeer-220	60	55	of	of	ADP
ajeer-220	60	56	the	the	DET
ajeer-220	60	57	proposed	propose	VERB
ajeer-220	60	58	merger	merger	NOUN
ajeer-220	60	59	resulting	result	VERB
ajeer-220	60	60	in	in	ADP
ajeer-220	60	61	extra	extra	ADJ
ajeer-220	60	62	cost	cost	NOUN
ajeer-220	60	63	to	to	ADP
ajeer-220	60	64	acquiring	acquire	VERB
ajeer-220	60	65	companies	company	NOUN
ajeer-220	60	66	.	.	PUNCT
ajeer-220	61	1	nevertheless	nevertheless	ADV
ajeer-220	61	2	,	,	PUNCT
ajeer-220	61	3	substantial	substantial	ADJ
ajeer-220	61	4	research	research	NOUN
ajeer-220	61	5	finding	finding	NOUN
ajeer-220	61	6	also	also	ADV
ajeer-220	61	7	support	support	VERB
ajeer-220	61	8	the	the	DET
ajeer-220	61	9	argument	argument	NOUN
ajeer-220	61	10	that	that	SCONJ
ajeer-220	61	11	merger	merger	NOUN
ajeer-220	61	12	and	and	CCONJ
ajeer-220	61	13	acquisition	acquisition	NOUN
ajeer-220	61	14	lead	lead	NOUN
ajeer-220	61	15	to	to	PART
ajeer-220	61	16	value	value	VERB
ajeer-220	61	17	creation	creation	NOUN
ajeer-220	61	18	for	for	ADP
ajeer-220	61	19	shareholders	shareholder	NOUN
ajeer-220	61	20	.	.	PUNCT
ajeer-220	62	1	looking	look	VERB
ajeer-220	62	2	at	at	ADP
ajeer-220	62	3	a	a	DET
ajeer-220	62	4	relatively	relatively	ADV
ajeer-220	62	5	broader	broad	ADJ
ajeer-220	62	6	aspect	aspect	NOUN
ajeer-220	62	7	of	of	ADP
ajeer-220	62	8	merger	merger	NOUN
ajeer-220	62	9	and	and	CCONJ
ajeer-220	62	10	acquisition	acquisition	NOUN
ajeer-220	62	11	,	,	PUNCT
ajeer-220	62	12	it	it	PRON
ajeer-220	62	13	is	be	AUX
ajeer-220	62	14	always	always	ADV
ajeer-220	62	15	proved	prove	VERB
ajeer-220	62	16	to	to	PART
ajeer-220	62	17	be	be	AUX
ajeer-220	62	18	a	a	DET
ajeer-220	62	19	gateway	gateway	NOUN
ajeer-220	62	20	to	to	PART
ajeer-220	62	21	adapt	adapt	VERB
ajeer-220	62	22	firm	firm	NOUN
ajeer-220	62	23	to	to	ADP
ajeer-220	62	24	the	the	DET
ajeer-220	62	25	external	external	ADJ
ajeer-220	62	26	macro	macro	ADJ
ajeer-220	62	27	level	level	NOUN
ajeer-220	62	28	changes	change	NOUN
ajeer-220	62	29	such	such	ADJ
ajeer-220	62	30	as	as	ADP
ajeer-220	62	31	the	the	DET
ajeer-220	62	32	ever	ever	ADV
ajeer-220	62	33	increasing	increase	VERB
ajeer-220	62	34	economic	economic	ADJ
ajeer-220	62	35	integration	integration	NOUN
ajeer-220	62	36	of	of	ADP
ajeer-220	62	37	nations	nation	NOUN
ajeer-220	62	38	,	,	PUNCT
ajeer-220	62	39	cultural	cultural	ADJ
ajeer-220	62	40	homogenization	homogenization	NOUN
ajeer-220	62	41	,	,	PUNCT
ajeer-220	62	42	and	and	CCONJ
ajeer-220	62	43	the	the	DET
ajeer-220	62	44	liberalization	liberalization	NOUN
ajeer-220	62	45	of	of	ADP
ajeer-220	62	46	trade	trade	NOUN
ajeer-220	62	47	and	and	CCONJ
ajeer-220	62	48	capital	capital	NOUN
ajeer-220	62	49	markets	market	NOUN
ajeer-220	62	50	;	;	PUNCT
ajeer-220	62	51	thus	thus	ADV
ajeer-220	62	52	m&as	m&as	NOUN
ajeer-220	62	53	may	may	AUX
ajeer-220	62	54	not	not	PART
ajeer-220	62	55	benefit	benefit	VERB
ajeer-220	62	56	in	in	ADP
ajeer-220	62	57	short	short	ADJ
ajeer-220	62	58	-	-	PUNCT
ajeer-220	62	59	term	term	NOUN
ajeer-220	62	60	however	however	ADV
ajeer-220	62	61	the	the	DET
ajeer-220	62	62	long	long	ADJ
ajeer-220	62	63	term	term	NOUN
ajeer-220	62	64	benefit	benefit	NOUN
ajeer-220	62	65	is	be	AUX
ajeer-220	62	66	inevitable	inevitable	ADJ
ajeer-220	62	67	to	to	PART
ajeer-220	62	68	come	come	VERB
ajeer-220	62	69	(	(	PUNCT
ajeer-220	62	70	elango	elango	NOUN
ajeer-220	62	71	,	,	PUNCT
ajeer-220	62	72	2006	2006	NUM
ajeer-220	62	73	)	)	PUNCT
ajeer-220	62	74	.	.	PUNCT
ajeer-220	63	1	through	through	ADP
ajeer-220	63	2	acquisition	acquisition	NOUN
ajeer-220	63	3	firm	firm	NOUN
ajeer-220	63	4	gain	gain	VERB
ajeer-220	63	5	quick	quick	ADJ
ajeer-220	63	6	control	control	NOUN
ajeer-220	63	7	of	of	ADP
ajeer-220	63	8	an	an	DET
ajeer-220	63	9	established	establish	VERB
ajeer-220	63	10	firm	firm	NOUN
ajeer-220	63	11	in	in	ADP
ajeer-220	63	12	the	the	DET
ajeer-220	63	13	host	host	NOUN
ajeer-220	63	14	country	country	NOUN
ajeer-220	63	15	as	as	SCONJ
ajeer-220	63	16	is	be	AUX
ajeer-220	63	17	evident	evident	ADJ
ajeer-220	63	18	by	by	ADP
ajeer-220	63	19	the	the	DET
ajeer-220	63	20	example	example	NOUN
ajeer-220	63	21	of	of	ADP
ajeer-220	63	22	tesco	tesco	PROPN
ajeer-220	63	23	acquisition	acquisition	PROPN
ajeer-220	63	24	of	of	ADP
ajeer-220	63	25	star	star	NOUN
ajeer-220	63	26	bazaar	bazaar	NOUN
ajeer-220	63	27	stores	store	NOUN
ajeer-220	63	28	in	in	ADP
ajeer-220	63	29	india	india	PROPN
ajeer-220	63	30	from	from	ADP
ajeer-220	63	31	tata	tata	PROPN
ajeer-220	63	32	group	group	NOUN
ajeer-220	63	33	that	that	PRON
ajeer-220	63	34	enabled	enable	VERB
ajeer-220	63	35	tesco	tesco	PROPN
ajeer-220	63	36	to	to	PART
ajeer-220	63	37	quickly	quickly	ADV
ajeer-220	63	38	gear	gear	VERB
ajeer-220	63	39	up	up	ADP
ajeer-220	63	40	its	its	PRON
ajeer-220	63	41	corporate	corporate	ADJ
ajeer-220	63	42	strategy	strategy	NOUN
ajeer-220	63	43	according	accord	VERB
ajeer-220	63	44	to	to	ADP
ajeer-220	63	45	local	local	ADJ
ajeer-220	63	46	market	market	NOUN
ajeer-220	63	47	needs	need	VERB
ajeer-220	63	48	through	through	ADP
ajeer-220	63	49	which	which	PRON
ajeer-220	63	50	tesco	tesco	PROPN
ajeer-220	63	51	penetrated	penetrate	VERB
ajeer-220	63	52	with	with	ADP
ajeer-220	63	53	greater	great	ADJ
ajeer-220	63	54	speed	speed	NOUN
ajeer-220	63	55	than	than	SCONJ
ajeer-220	63	56	would	would	AUX
ajeer-220	63	57	have	have	AUX
ajeer-220	63	58	been	be	AUX
ajeer-220	63	59	possible	possible	ADJ
ajeer-220	63	60	through	through	ADP
ajeer-220	63	61	greenfield	greenfield	NOUN
ajeer-220	63	62	operation	operation	NOUN
ajeer-220	63	63	.	.	PUNCT
ajeer-220	64	1	however	however	ADV
ajeer-220	64	2	,	,	PUNCT
ajeer-220	64	3	there	there	PRON
ajeer-220	64	4	can	can	AUX
ajeer-220	64	5	be	be	AUX
ajeer-220	64	6	pitfalls	pitfall	NOUN
ajeer-220	64	7	as	as	ADV
ajeer-220	64	8	often	often	ADV
ajeer-220	64	9	argued	argue	VERB
ajeer-220	64	10	by	by	ADP
ajeer-220	64	11	researchers	researcher	NOUN
ajeer-220	64	12	such	such	ADJ
ajeer-220	64	13	as	as	ADP
ajeer-220	64	14	over	over	ADP
ajeer-220	64	15	valuation	valuation	NOUN
ajeer-220	64	16	of	of	ADP
ajeer-220	64	17	the	the	DET
ajeer-220	64	18	target	target	NOUN
ajeer-220	64	19	firm	firm	NOUN
ajeer-220	64	20	,	,	PUNCT
ajeer-220	64	21	increased	increase	VERB
ajeer-220	64	22	cost	cost	NOUN
ajeer-220	64	23	as	as	ADP
ajeer-220	64	24	a	a	DET
ajeer-220	64	25	result	result	NOUN
ajeer-220	64	26	of	of	ADP
ajeer-220	64	27	cultural	cultural	ADJ
ajeer-220	64	28	dissimilarities	dissimilarity	NOUN
ajeer-220	64	29	,	,	PUNCT
ajeer-220	64	30	acquisition	acquisition	NOUN
ajeer-220	64	31	of	of	ADP
ajeer-220	64	32	undesirable	undesirable	ADJ
ajeer-220	64	33	assets	asset	NOUN
ajeer-220	64	34	,	,	PUNCT
ajeer-220	64	35	and	and	CCONJ
ajeer-220	64	36	successful	successful	ADJ
ajeer-220	64	37	integration	integration	NOUN
ajeer-220	64	38	can	can	AUX
ajeer-220	64	39	lead	lead	VERB
ajeer-220	64	40	to	to	ADP
ajeer-220	64	41	drastic	drastic	ADJ
ajeer-220	64	42	consequences	consequence	NOUN
ajeer-220	64	43	.	.	PUNCT
ajeer-220	65	1	moreover	moreover	ADV
ajeer-220	65	2	,	,	PUNCT
ajeer-220	65	3	certain	certain	ADJ
ajeer-220	65	4	portion	portion	NOUN
ajeer-220	65	5	of	of	ADP
ajeer-220	65	6	policymaker	policymaker	NOUN
ajeer-220	65	7	in	in	ADP
ajeer-220	65	8	the	the	DET
ajeer-220	65	9	uk	uk	PROPN
ajeer-220	65	10	do	do	AUX
ajeer-220	65	11	believe	believe	VERB
ajeer-220	65	12	that	that	SCONJ
ajeer-220	65	13	m&as	m&as	NOUN
ajeer-220	65	14	do	do	AUX
ajeer-220	65	15	not	not	PART
ajeer-220	65	16	benefit	benefit	VERB
ajeer-220	65	17	uk	uk	PROPN
ajeer-220	65	18	economy	economy	NOUN
ajeer-220	65	19	that	that	PRON
ajeer-220	65	20	came	come	VERB
ajeer-220	65	21	out	out	ADP
ajeer-220	65	22	more	more	ADV
ajeer-220	65	23	evidently	evidently	ADV
ajeer-220	65	24	during	during	ADP
ajeer-220	65	25	the	the	DET
ajeer-220	65	26	kraft	kraft	NOUN
ajeer-220	65	27	foods	food	NOUN
ajeer-220	65	28	bid	bid	VERB
ajeer-220	65	29	for	for	ADP
ajeer-220	65	30	cadbury	cadbury	PROPN
ajeer-220	65	31	plc	plc	PROPN
ajeer-220	65	32	during	during	ADP
ajeer-220	65	33	2009	2009	NUM
ajeer-220	65	34	where	where	SCONJ
ajeer-220	65	35	the	the	DET
ajeer-220	65	36	deal	deal	NOUN
ajeer-220	65	37	faced	face	VERB
ajeer-220	65	38	considerable	considerable	ADJ
ajeer-220	65	39	resistance	resistance	NOUN
ajeer-220	65	40	.	.	PUNCT
ajeer-220	66	1	as	as	ADP
ajeer-220	66	2	a	a	DET
ajeer-220	66	3	result	result	NOUN
ajeer-220	66	4	the	the	DET
ajeer-220	66	5	uk	uk	PROPN
ajeer-220	66	6	takeover	takeover	NOUN
ajeer-220	66	7	panel	panel	NOUN
ajeer-220	66	8	presented	present	VERB
ajeer-220	66	9	a	a	DET
ajeer-220	66	10	number	number	NOUN
ajeer-220	66	11	of	of	ADP
ajeer-220	66	12	changes	change	NOUN
ajeer-220	66	13	to	to	ADP
ajeer-220	66	14	uk	uk	PROPN
ajeer-220	66	15	takeover	takeover	NOUN
ajeer-220	66	16	codes	code	NOUN
ajeer-220	66	17	aimed	aim	VERB
ajeer-220	66	18	at	at	ADP
ajeer-220	66	19	protecting	protect	VERB
ajeer-220	66	20	the	the	DET
ajeer-220	66	21	interest	interest	NOUN
ajeer-220	66	22	of	of	ADP
ajeer-220	66	23	the	the	DET
ajeer-220	66	24	target	target	NOUN
ajeer-220	66	25	firm	firm	NOUN
ajeer-220	66	26	.	.	PUNCT
ajeer-220	67	1	the	the	DET
ajeer-220	67	2	failure	failure	NOUN
ajeer-220	67	3	of	of	ADP
ajeer-220	67	4	pfizer	pfizer	NOUN
ajeer-220	67	5	and	and	CCONJ
ajeer-220	67	6	astrazeneca	astrazeneca	PROPN
ajeer-220	67	7	$	$	SYM
ajeer-220	67	8	53	53	NUM
ajeer-220	67	9	billion	billion	NUM
ajeer-220	67	10	deal	deal	NOUN
ajeer-220	67	11	is	be	AUX
ajeer-220	67	12	the	the	DET
ajeer-220	67	13	result	result	NOUN
ajeer-220	67	14	of	of	ADP
ajeer-220	67	15	uk	uk	PROPN
ajeer-220	67	16	’s	’s	PART
ajeer-220	67	17	protectionist	protectionist	ADJ
ajeer-220	67	18	policy	policy	NOUN
ajeer-220	67	19	that	that	PRON
ajeer-220	67	20	can	can	AUX
ajeer-220	67	21	severely	severely	ADV
ajeer-220	67	22	damage	damage	VERB
ajeer-220	67	23	uk	uk	PROPN
ajeer-220	67	24	’s	’s	PART
ajeer-220	67	25	reputation	reputation	NOUN
ajeer-220	67	26	of	of	ADP
ajeer-220	67	27	being	be	AUX
ajeer-220	67	28	a	a	DET
ajeer-220	67	29	corporate	corporate	ADJ
ajeer-220	67	30	friendly	friendly	ADJ
ajeer-220	67	31	market	market	NOUN
ajeer-220	67	32	famous	famous	ADJ
ajeer-220	67	33	for	for	ADP
ajeer-220	67	34	high	high	ADJ
ajeer-220	67	35	value	value	NOUN
ajeer-220	67	36	m&as	m&as	NOUN
ajeer-220	67	37	deals	deal	NOUN
ajeer-220	67	38	.	.	PUNCT
ajeer-220	68	1	similarly	similarly	ADV
ajeer-220	68	2	,	,	PUNCT
ajeer-220	68	3	the	the	DET
ajeer-220	68	4	short	short	ADJ
ajeer-220	68	5	-	-	PUNCT
ajeer-220	68	6	term	term	NOUN
ajeer-220	68	7	value	value	NOUN
ajeer-220	68	8	gain	gain	NOUN
ajeer-220	68	9	for	for	ADP
ajeer-220	68	10	shareholders	shareholder	NOUN
ajeer-220	68	11	as	as	ADP
ajeer-220	68	12	a	a	DET
ajeer-220	68	13	result	result	NOUN
ajeer-220	68	14	of	of	ADP
ajeer-220	68	15	merger	merger	NOUN
ajeer-220	68	16	and	and	CCONJ
ajeer-220	68	17	acquisition	acquisition	NOUN
ajeer-220	68	18	is	be	AUX
ajeer-220	68	19	also	also	ADV
ajeer-220	68	20	being	be	AUX
ajeer-220	68	21	widely	widely	ADV
ajeer-220	68	22	debated	debate	VERB
ajeer-220	68	23	in	in	ADP
ajeer-220	68	24	the	the	DET
ajeer-220	68	25	literature	literature	NOUN
ajeer-220	68	26	,	,	PUNCT
ajeer-220	68	27	however	however	ADV
ajeer-220	68	28	,	,	PUNCT
ajeer-220	68	29	handful	handful	NOUN
ajeer-220	68	30	of	of	ADP
ajeer-220	68	31	researchers	researcher	NOUN
ajeer-220	68	32	such	such	ADJ
ajeer-220	68	33	as	as	ADP
ajeer-220	68	34	hassan	hassan	PROPN
ajeer-220	68	35	et	et	PROPN
ajeer-220	68	36	al	al	PROPN
ajeer-220	68	37	.	.	PROPN
ajeer-220	69	1	(	(	PUNCT
ajeer-220	69	2	2004	2004	NUM
ajeer-220	69	3	)	)	PUNCT
ajeer-220	69	4	;	;	PUNCT
ajeer-220	69	5	du	du	PROPN
ajeer-220	69	6	and	and	CCONJ
ajeer-220	69	7	boateng	boateng	PROPN
ajeer-220	69	8	(	(	PUNCT
ajeer-220	69	9	2014	2014	NUM
ajeer-220	69	10	)	)	PUNCT
ajeer-220	69	11	and	and	CCONJ
ajeer-220	69	12	dutordoir	dutordoir	PROPN
ajeer-220	69	13	et	et	PROPN
ajeer-220	69	14	al	al	PROPN
ajeer-220	69	15	.	.	PROPN
ajeer-220	70	1	(	(	PUNCT
ajeer-220	70	2	2014	2014	NUM
ajeer-220	70	3	)	)	PUNCT
ajeer-220	70	4	empirically	empirically	ADV
ajeer-220	70	5	defend	defend	VERB
ajeer-220	70	6	that	that	DET
ajeer-220	70	7	m&as	m&as	PROPN
ajeer-220	70	8	result	result	VERB
ajeer-220	70	9	in	in	ADP
ajeer-220	70	10	short	short	ADJ
ajeer-220	70	11	-	-	PUNCT
ajeer-220	70	12	term	term	NOUN
ajeer-220	70	13	gain	gain	NOUN
ajeer-220	70	14	for	for	ADP
ajeer-220	70	15	shareholders	shareholder	NOUN
ajeer-220	70	16	as	as	SCONJ
ajeer-220	70	17	they	they	PRON
ajeer-220	70	18	argue	argue	VERB
ajeer-220	70	19	that	that	SCONJ
ajeer-220	70	20	capital	capital	NOUN
ajeer-220	70	21	markets	market	NOUN
ajeer-220	70	22	react	react	VERB
ajeer-220	70	23	to	to	ADP
ajeer-220	70	24	acquisition	acquisition	NOUN
ajeer-220	70	25	announcement	announcement	NOUN
ajeer-220	70	26	positively	positively	ADV
ajeer-220	70	27	that	that	SCONJ
ajeer-220	70	28	in	in	ADP
ajeer-220	70	29	turn	turn	NOUN
ajeer-220	70	30	result	result	NOUN
ajeer-220	70	31	in	in	ADP
ajeer-220	70	32	abnormal	abnormal	ADJ
ajeer-220	70	33	gain	gain	NOUN
ajeer-220	70	34	for	for	ADP
ajeer-220	70	35	underlying	underlie	VERB
ajeer-220	70	36	stocks	stock	NOUN
ajeer-220	70	37	.	.	PUNCT
ajeer-220	71	1	in	in	ADP
ajeer-220	71	2	any	any	DET
ajeer-220	71	3	case	case	NOUN
ajeer-220	71	4	value	value	NOUN
ajeer-220	71	5	creation	creation	NOUN
ajeer-220	71	6	through	through	ADP
ajeer-220	71	7	m&as	m&as	PROPN
ajeer-220	71	8	remains	remain	VERB
ajeer-220	71	9	central	central	ADJ
ajeer-220	71	10	to	to	ADP
ajeer-220	71	11	every	every	DET
ajeer-220	71	12	m&a	m&a	PROPN
ajeer-220	71	13	deal	deal	NOUN
ajeer-220	71	14	.	.	PUNCT
ajeer-220	72	1	however	however	ADV
ajeer-220	72	2	,	,	PUNCT
ajeer-220	72	3	value	value	NOUN
ajeer-220	72	4	creation	creation	NOUN
ajeer-220	72	5	at	at	ADP
ajeer-220	72	6	the	the	DET
ajeer-220	72	7	same	same	ADJ
ajeer-220	72	8	time	time	NOUN
ajeer-220	72	9	is	be	AUX
ajeer-220	72	10	attributable	attributable	ADJ
ajeer-220	72	11	to	to	ADP
ajeer-220	72	12	several	several	ADJ
ajeer-220	72	13	factors	factor	NOUN
ajeer-220	72	14	i.e.	i.e.	X
ajeer-220	72	15	effective	effective	ADJ
ajeer-220	72	16	global	global	ADJ
ajeer-220	72	17	competition	competition	NOUN
ajeer-220	72	18	,	,	PUNCT
ajeer-220	72	19	growth	growth	NOUN
ajeer-220	72	20	potential	potential	NOUN
ajeer-220	72	21	of	of	ADP
ajeer-220	72	22	the	the	DET
ajeer-220	72	23	hosting	host	VERB
ajeer-220	72	24	market	market	NOUN
ajeer-220	72	25	,	,	PUNCT
ajeer-220	72	26	favorable	favorable	ADJ
ajeer-220	72	27	input	input	NOUN
ajeer-220	72	28	cost	cost	NOUN
ajeer-220	72	29	,	,	PUNCT
ajeer-220	72	30	improved	improve	VERB
ajeer-220	72	31	distribution	distribution	NOUN
ajeer-220	72	32	network	network	NOUN
ajeer-220	72	33	,	,	PUNCT
ajeer-220	72	34	lower	low	ADJ
ajeer-220	72	35	cost	cost	NOUN
ajeer-220	72	36	of	of	ADP
ajeer-220	72	37	capital	capital	NOUN
ajeer-220	72	38	,	,	PUNCT
ajeer-220	72	39	regulatory	regulatory	ADJ
ajeer-220	72	40	infrastructure	infrastructure	NOUN
ajeer-220	72	41	of	of	ADP
ajeer-220	72	42	host	host	NOUN
ajeer-220	72	43	country	country	NOUN
ajeer-220	72	44	and	and	CCONJ
ajeer-220	72	45	favorable	favorable	ADJ
ajeer-220	72	46	exchange	exchange	NOUN
ajeer-220	72	47	rate	rate	NOUN
ajeer-220	72	48	etc	etc	X
ajeer-220	72	49	(	(	PUNCT
ajeer-220	72	50	picot	picot	PROPN
ajeer-220	72	51	,	,	PUNCT
ajeer-220	72	52	2002	2002	NUM
ajeer-220	72	53	cited	cite	VERB
ajeer-220	72	54	by	by	ADP
ajeer-220	72	55	ray	ray	NOUN
ajeer-220	72	56	and	and	CCONJ
ajeer-220	72	57	ray	ray	PROPN
ajeer-220	72	58	(	(	PUNCT
ajeer-220	72	59	2014	2014	NUM
ajeer-220	72	60	)	)	PUNCT
ajeer-220	72	61	.	.	PUNCT
ajeer-220	73	1	however	however	ADV
ajeer-220	73	2	,	,	PUNCT
ajeer-220	73	3	in	in	ADP
ajeer-220	73	4	the	the	DET
ajeer-220	73	5	longer	long	ADJ
ajeer-220	73	6	run	run	VERB
ajeer-220	73	7	most	most	ADJ
ajeer-220	73	8	of	of	ADP
ajeer-220	73	9	the	the	DET
ajeer-220	73	10	mergers	merger	NOUN
ajeer-220	73	11	deals	deal	NOUN
ajeer-220	73	12	fail	fail	VERB
ajeer-220	73	13	from	from	ADP
ajeer-220	73	14	shareholders	shareholder	NOUN
ajeer-220	73	15	’	'	PUNCT
ajeer-220	73	16	perspective	perspective	NOUN
ajeer-220	73	17	when	when	SCONJ
ajeer-220	73	18	measured	measure	VERB
ajeer-220	73	19	against	against	ADP
ajeer-220	73	20	the	the	DET
ajeer-220	73	21	stock	stock	NOUN
ajeer-220	73	22	price	price	NOUN
ajeer-220	73	23	because	because	SCONJ
ajeer-220	73	24	the	the	DET
ajeer-220	73	25	abnormal	abnormal	ADJ
ajeer-220	73	26	gain	gain	NOUN
ajeer-220	73	27	in	in	ADP
ajeer-220	73	28	the	the	DET
ajeer-220	73	29	short	short	ADJ
ajeer-220	73	30	run	run	NOUN
ajeer-220	73	31	is	be	AUX
ajeer-220	73	32	quickly	quickly	ADV
ajeer-220	73	33	incorporated	incorporate	VERB
ajeer-220	73	34	in	in	ADP
ajeer-220	73	35	the	the	DET
ajeer-220	73	36	security	security	NOUN
ajeer-220	73	37	price	price	NOUN
ajeer-220	73	38	.	.	PUNCT
ajeer-220	74	1	moreover	moreover	ADV
ajeer-220	74	2	,	,	PUNCT
ajeer-220	74	3	the	the	DET
ajeer-220	74	4	post	post	ADJ
ajeer-220	74	5	-	-	ADJ
ajeer-220	74	6	acquisition	acquisition	ADJ
ajeer-220	74	7	phase	phase	NOUN
ajeer-220	74	8	often	often	ADV
ajeer-220	74	9	involve	involve	VERB
ajeer-220	74	10	complex	complex	ADJ
ajeer-220	74	11	operations	operation	NOUN
ajeer-220	74	12	that	that	PRON
ajeer-220	74	13	lead	lead	VERB
ajeer-220	74	14	to	to	ADP
ajeer-220	74	15	considerable	considerable	ADJ
ajeer-220	74	16	delay	delay	NOUN
ajeer-220	74	17	resulting	result	VERB
ajeer-220	74	18	in	in	ADP
ajeer-220	74	19	the	the	DET
ajeer-220	74	20	erosion	erosion	NOUN
ajeer-220	74	21	of	of	ADP
ajeer-220	74	22	net	net	ADJ
ajeer-220	74	23	present	present	ADJ
ajeer-220	74	24	value	value	NOUN
ajeer-220	74	25	of	of	ADP
ajeer-220	74	26	cash	cash	NOUN
ajeer-220	74	27	flow	flow	NOUN
ajeer-220	74	28	that	that	PRON
ajeer-220	74	29	causes	cause	VERB
ajeer-220	74	30	negative	negative	ADJ
ajeer-220	74	31	impact	impact	NOUN
ajeer-220	74	32	on	on	ADP
ajeer-220	74	33	the	the	DET
ajeer-220	74	34	overall	overall	ADJ
ajeer-220	74	35	process	process	NOUN
ajeer-220	74	36	of	of	ADP
ajeer-220	74	37	m&as	m&as	PROPN
ajeer-220	74	38	underlying	underlie	VERB
ajeer-220	74	39	plan	plan	NOUN
ajeer-220	74	40	resulting	result	VERB
ajeer-220	74	41	in	in	ADP
ajeer-220	74	42	total	total	ADJ
ajeer-220	74	43	failure	failure	NOUN
ajeer-220	74	44	(	(	PUNCT
ajeer-220	74	45	businessweek	businessweek	NOUN
ajeer-220	74	46	,	,	PUNCT
ajeer-220	74	47	2002	2002	NUM
ajeer-220	74	48	,	,	PUNCT
ajeer-220	74	49	cited	cite	VERB
ajeer-220	74	50	by	by	ADP
ajeer-220	74	51	macdonald	macdonald	PROPN
ajeer-220	74	52	(	(	PUNCT
ajeer-220	74	53	2005	2005	NUM
ajeer-220	74	54	)	)	PUNCT
ajeer-220	74	55	)	)	PUNCT
ajeer-220	74	56	.	.	PUNCT
ajeer-220	75	1	the	the	DET
ajeer-220	75	2	m&a	m&a	PROPN
ajeer-220	75	3	deal	deal	NOUN
ajeer-220	75	4	between	between	ADP
ajeer-220	75	5	rover	rover	NOUN
ajeer-220	75	6	and	and	CCONJ
ajeer-220	75	7	bmw	bmw	PROPN
ajeer-220	75	8	well	well	ADV
ajeer-220	75	9	explains	explain	VERB
ajeer-220	75	10	the	the	DET
ajeer-220	75	11	scenario	scenario	NOUN
ajeer-220	75	12	where	where	SCONJ
ajeer-220	75	13	the	the	DET
ajeer-220	75	14	deal	deal	NOUN
ajeer-220	75	15	was	be	AUX
ajeer-220	75	16	prematurely	prematurely	ADV
ajeer-220	75	17	cancelled	cancel	VERB
ajeer-220	75	18	because	because	SCONJ
ajeer-220	75	19	the	the	DET
ajeer-220	75	20	post	post	ADJ
ajeer-220	75	21	-	-	ADJ
ajeer-220	75	22	merger	merger	ADJ
ajeer-220	75	23	integration	integration	NOUN
ajeer-220	75	24	process	process	NOUN
ajeer-220	75	25	took	take	VERB
ajeer-220	75	26	several	several	ADJ
ajeer-220	75	27	years	year	NOUN
ajeer-220	75	28	which	which	PRON
ajeer-220	75	29	destroyed	destroy	VERB
ajeer-220	75	30	the	the	DET
ajeer-220	75	31	anticipated	anticipate	VERB
ajeer-220	75	32	shareholders	shareholder	NOUN
ajeer-220	75	33	value	value	NOUN
ajeer-220	75	34	instead	instead	ADV
ajeer-220	75	35	of	of	ADP
ajeer-220	75	36	gaining	gain	VERB
ajeer-220	75	37	from	from	ADP
ajeer-220	75	38	the	the	DET
ajeer-220	75	39	merger	merger	NOUN
ajeer-220	75	40	while	while	SCONJ
ajeer-220	75	41	daimler	daimler	PROPN
ajeer-220	75	42	and	and	CCONJ
ajeer-220	75	43	chrysler	chrysler	PROPN
ajeer-220	75	44	also	also	ADV
ajeer-220	75	45	met	meet	VERB
ajeer-220	75	46	the	the	DET
ajeer-220	75	47	same	same	ADJ
ajeer-220	75	48	fate	fate	NOUN
ajeer-220	75	49	(	(	PUNCT
ajeer-220	75	50	kursten	kursten	NOUN
ajeer-220	75	51	,	,	PUNCT
ajeer-220	75	52	2008	2008	NUM
ajeer-220	75	53	)	)	PUNCT
ajeer-220	75	54	.	.	PUNCT
ajeer-220	76	1	this	this	PRON
ajeer-220	76	2	leads	lead	VERB
ajeer-220	76	3	to	to	ADP
ajeer-220	76	4	the	the	DET
ajeer-220	76	5	understanding	understanding	NOUN
ajeer-220	76	6	that	that	PRON
ajeer-220	76	7	shareholders	shareholder	NOUN
ajeer-220	76	8	value	value	VERB
ajeer-220	76	9	creation	creation	NOUN
ajeer-220	76	10	through	through	ADP
ajeer-220	76	11	m&as	m&as	PROPN
ajeer-220	76	12	is	be	AUX
ajeer-220	76	13	wide	wide	ADJ
ajeer-220	76	14	area	area	NOUN
ajeer-220	76	15	to	to	PART
ajeer-220	76	16	be	be	AUX
ajeer-220	76	17	researched	research	VERB
ajeer-220	76	18	in	in	ADP
ajeer-220	76	19	order	order	NOUN
ajeer-220	76	20	to	to	PART
ajeer-220	76	21	determine	determine	VERB
ajeer-220	76	22	whether	whether	SCONJ
ajeer-220	76	23	shareholders	shareholder	NOUN
ajeer-220	76	24	value	value	VERB
ajeer-220	76	25	creation	creation	NOUN
ajeer-220	76	26	in	in	ADP
ajeer-220	76	27	the	the	DET
ajeer-220	76	28	short	short	ADJ
ajeer-220	76	29	term	term	NOUN
ajeer-220	76	30	can	can	AUX
ajeer-220	76	31	be	be	AUX
ajeer-220	76	32	attained	attain	VERB
ajeer-220	76	33	.	.	PUNCT
ajeer-220	77	1	asian	asian	ADJ
ajeer-220	77	2	journal	journal	PROPN
ajeer-220	77	3	of	of	ADP
ajeer-220	77	4	economics	economic	NOUN
ajeer-220	77	5	and	and	CCONJ
ajeer-220	77	6	empirical	empirical	ADJ
ajeer-220	77	7	research	research	NOUN
ajeer-220	77	8	,	,	PUNCT
ajeer-220	77	9	2016	2016	NUM
ajeer-220	77	10	,	,	PUNCT
ajeer-220	77	11	3(2):130	3(2):130	NUM
ajeer-220	77	12	-	-	SYM
ajeer-220	77	13	138	138	NUM
ajeer-220	77	14	132	132	NUM
ajeer-220	77	15	2	2	NUM
ajeer-220	77	16	.	.	PUNCT
ajeer-220	77	17	literature	literature	NOUN
ajeer-220	77	18	review	review	PROPN
ajeer-220	77	19	value	value	NOUN
ajeer-220	77	20	creation	creation	NOUN
ajeer-220	77	21	through	through	ADP
ajeer-220	77	22	mergers	merger	NOUN
ajeer-220	77	23	and	and	CCONJ
ajeer-220	77	24	acquisition	acquisition	NOUN
ajeer-220	77	25	(	(	PUNCT
ajeer-220	77	26	m&a	m&a	PROPN
ajeer-220	77	27	)	)	PUNCT
ajeer-220	77	28	,	,	PUNCT
ajeer-220	77	29	in	in	ADP
ajeer-220	77	30	the	the	DET
ajeer-220	77	31	context	context	NOUN
ajeer-220	77	32	of	of	ADP
ajeer-220	77	33	uk	uk	PROPN
ajeer-220	77	34	’s	’s	PART
ajeer-220	77	35	bidders	bidder	NOUN
ajeer-220	77	36	and	and	CCONJ
ajeer-220	77	37	target	target	NOUN
ajeer-220	77	38	firms	firm	NOUN
ajeer-220	77	39	,	,	PUNCT
ajeer-220	77	40	has	have	AUX
ajeer-220	77	41	been	be	AUX
ajeer-220	77	42	discussed	discuss	VERB
ajeer-220	77	43	widely	widely	ADV
ajeer-220	77	44	in	in	ADP
ajeer-220	77	45	the	the	DET
ajeer-220	77	46	literature	literature	NOUN
ajeer-220	77	47	;	;	PUNCT
ajeer-220	77	48	however	however	ADV
ajeer-220	77	49	,	,	PUNCT
ajeer-220	77	50	whether	whether	SCONJ
ajeer-220	77	51	it	it	PRON
ajeer-220	77	52	creates	create	VERB
ajeer-220	77	53	value	value	NOUN
ajeer-220	77	54	for	for	ADP
ajeer-220	77	55	uk	uk	PROPN
ajeer-220	77	56	shareholders	shareholder	NOUN
ajeer-220	77	57	in	in	ADP
ajeer-220	77	58	the	the	DET
ajeer-220	77	59	short	short	ADJ
ajeer-220	77	60	-	-	PUNCT
ajeer-220	77	61	term	term	NOUN
ajeer-220	77	62	is	be	AUX
ajeer-220	77	63	either	either	CCONJ
ajeer-220	77	64	supported	support	VERB
ajeer-220	77	65	or	or	CCONJ
ajeer-220	77	66	ruled	rule	VERB
ajeer-220	77	67	out	out	ADP
ajeer-220	77	68	by	by	ADP
ajeer-220	77	69	various	various	ADJ
ajeer-220	77	70	findings	finding	NOUN
ajeer-220	77	71	.	.	PUNCT
ajeer-220	78	1	as	as	ADP
ajeer-220	78	2	evident	evident	ADJ
ajeer-220	78	3	by	by	ADP
ajeer-220	78	4	the	the	DET
ajeer-220	78	5	findings	finding	NOUN
ajeer-220	78	6	of	of	ADP
ajeer-220	78	7	uddin	uddin	PROPN
ajeer-220	78	8	and	and	CCONJ
ajeer-220	78	9	boateng	boateng	PROPN
ajeer-220	78	10	(	(	PUNCT
ajeer-220	78	11	2009	2009	NUM
ajeer-220	78	12	)	)	PUNCT
ajeer-220	78	13	who	who	PRON
ajeer-220	78	14	investigate	investigate	VERB
ajeer-220	78	15	cross	cross	NOUN
ajeer-220	78	16	border	border	NOUN
ajeer-220	78	17	acquisitions	acquisition	NOUN
ajeer-220	78	18	of	of	ADP
ajeer-220	78	19	373	373	NUM
ajeer-220	78	20	uk	uk	PROPN
ajeer-220	78	21	’s	’s	PART
ajeer-220	78	22	acquiring	acquire	VERB
ajeer-220	78	23	firms	firm	NOUN
ajeer-220	78	24	during	during	ADP
ajeer-220	78	25	1994	1994	NUM
ajeer-220	78	26	to	to	ADP
ajeer-220	78	27	2003	2003	NUM
ajeer-220	78	28	in	in	ADP
ajeer-220	78	29	order	order	NOUN
ajeer-220	78	30	to	to	PART
ajeer-220	78	31	determine	determine	VERB
ajeer-220	78	32	the	the	DET
ajeer-220	78	33	factors	factor	NOUN
ajeer-220	78	34	influencing	influence	VERB
ajeer-220	78	35	the	the	DET
ajeer-220	78	36	short	short	ADJ
ajeer-220	78	37	term	term	NOUN
ajeer-220	78	38	performance	performance	NOUN
ajeer-220	78	39	,	,	PUNCT
ajeer-220	78	40	argue	argue	VERB
ajeer-220	78	41	that	that	SCONJ
ajeer-220	78	42	uk	uk	PROPN
ajeer-220	78	43	’s	’s	PART
ajeer-220	78	44	bidding	bidding	NOUN
ajeer-220	78	45	firms	firm	NOUN
ajeer-220	78	46	do	do	AUX
ajeer-220	78	47	not	not	PART
ajeer-220	78	48	earn	earn	VERB
ajeer-220	78	49	positive	positive	ADJ
ajeer-220	78	50	abnormal	abnormal	ADJ
ajeer-220	78	51	return	return	NOUN
ajeer-220	78	52	in	in	ADP
ajeer-220	78	53	the	the	DET
ajeer-220	78	54	short	short	NOUN
ajeer-220	78	55	-	-	PUNCT
ajeer-220	78	56	run	run	NOUN
ajeer-220	78	57	by	by	ADP
ajeer-220	78	58	examining	examine	VERB
ajeer-220	78	59	stock	stock	NOUN
ajeer-220	78	60	price	price	NOUN
ajeer-220	78	61	performance	performance	NOUN
ajeer-220	78	62	of	of	ADP
ajeer-220	78	63	373	373	NUM
ajeer-220	78	64	uk	uk	PROPN
ajeer-220	78	65	bidding	bidding	NOUN
ajeer-220	78	66	firms	firm	NOUN
ajeer-220	78	67	involved	involve	VERB
ajeer-220	78	68	in	in	ADP
ajeer-220	78	69	cross	cross	NOUN
ajeer-220	78	70	border	border	NOUN
ajeer-220	78	71	mergers	merger	NOUN
ajeer-220	78	72	and	and	CCONJ
ajeer-220	78	73	acquisition	acquisition	NOUN
ajeer-220	78	74	during	during	ADP
ajeer-220	78	75	1994	1994	NUM
ajeer-220	78	76	to	to	ADP
ajeer-220	78	77	2003	2003	NUM
ajeer-220	78	78	.	.	PUNCT
ajeer-220	79	1	they	they	PRON
ajeer-220	79	2	further	far	ADV
ajeer-220	79	3	argue	argue	VERB
ajeer-220	79	4	that	that	SCONJ
ajeer-220	79	5	the	the	DET
ajeer-220	79	6	absence	absence	NOUN
ajeer-220	79	7	of	of	ADP
ajeer-220	79	8	abnormal	abnormal	ADJ
ajeer-220	79	9	return	return	NOUN
ajeer-220	79	10	through	through	ADP
ajeer-220	79	11	m&a	m&a	PROPN
ajeer-220	79	12	can	can	AUX
ajeer-220	79	13	be	be	AUX
ajeer-220	79	14	contributable	contributable	ADJ
ajeer-220	79	15	to	to	ADP
ajeer-220	79	16	the	the	DET
ajeer-220	79	17	competitive	competitive	ADJ
ajeer-220	79	18	nature	nature	NOUN
ajeer-220	79	19	of	of	ADP
ajeer-220	79	20	uk	uk	PROPN
ajeer-220	79	21	’s	’s	PART
ajeer-220	79	22	market	market	NOUN
ajeer-220	79	23	where	where	SCONJ
ajeer-220	79	24	any	any	DET
ajeer-220	79	25	new	new	ADJ
ajeer-220	79	26	information	information	NOUN
ajeer-220	79	27	is	be	AUX
ajeer-220	79	28	being	be	AUX
ajeer-220	79	29	quickly	quickly	ADV
ajeer-220	79	30	incorporated	incorporate	VERB
ajeer-220	79	31	in	in	ADP
ajeer-220	79	32	the	the	DET
ajeer-220	79	33	security	security	NOUN
ajeer-220	79	34	price	price	NOUN
ajeer-220	79	35	.	.	PUNCT
ajeer-220	80	1	however	however	ADV
ajeer-220	80	2	,	,	PUNCT
ajeer-220	80	3	contrary	contrary	ADV
ajeer-220	80	4	to	to	ADP
ajeer-220	80	5	this	this	PRON
ajeer-220	80	6	,	,	PUNCT
ajeer-220	80	7	chanmugam	chanmugam	VERB
ajeer-220	80	8	et	et	PROPN
ajeer-220	80	9	al	al	PROPN
ajeer-220	80	10	.	.	PROPN
ajeer-220	81	1	(	(	PUNCT
ajeer-220	81	2	2005	2005	NUM
ajeer-220	81	3	)	)	PUNCT
ajeer-220	81	4	by	by	ADP
ajeer-220	81	5	writing	write	VERB
ajeer-220	81	6	an	an	DET
ajeer-220	81	7	investigative	investigative	ADJ
ajeer-220	81	8	article	article	NOUN
ajeer-220	81	9	to	to	PART
ajeer-220	81	10	measure	measure	VERB
ajeer-220	81	11	the	the	DET
ajeer-220	81	12	performance	performance	NOUN
ajeer-220	81	13	of	of	ADP
ajeer-220	81	14	350	350	NUM
ajeer-220	81	15	post	post	ADJ
ajeer-220	81	16	-	-	ADJ
ajeer-220	81	17	merger	merger	ADJ
ajeer-220	81	18	integration	integration	NOUN
ajeer-220	81	19	engagement	engagement	NOUN
ajeer-220	81	20	aimed	aim	VERB
ajeer-220	81	21	at	at	ADP
ajeer-220	81	22	determining	determine	VERB
ajeer-220	81	23	common	common	ADJ
ajeer-220	81	24	grounds	ground	NOUN
ajeer-220	81	25	for	for	ADP
ajeer-220	81	26	successful	successful	ADJ
ajeer-220	81	27	m&a	m&a	PROPN
ajeer-220	81	28	,	,	PUNCT
ajeer-220	81	29	argue	argue	VERB
ajeer-220	81	30	that	that	SCONJ
ajeer-220	81	31	the	the	DET
ajeer-220	81	32	entire	entire	ADJ
ajeer-220	81	33	m&a	m&a	PROPN
ajeer-220	81	34	process	process	NOUN
ajeer-220	81	35	hardly	hardly	ADV
ajeer-220	81	36	create	create	VERB
ajeer-220	81	37	value	value	NOUN
ajeer-220	81	38	for	for	ADP
ajeer-220	81	39	shareholders	shareholder	NOUN
ajeer-220	81	40	because	because	SCONJ
ajeer-220	81	41	the	the	DET
ajeer-220	81	42	valuation	valuation	NOUN
ajeer-220	81	43	process	process	NOUN
ajeer-220	81	44	for	for	ADP
ajeer-220	81	45	any	any	DET
ajeer-220	81	46	potential	potential	ADJ
ajeer-220	81	47	m&a	m&a	PROPN
ajeer-220	81	48	has	have	AUX
ajeer-220	81	49	become	become	VERB
ajeer-220	81	50	much	much	ADV
ajeer-220	81	51	more	more	ADV
ajeer-220	81	52	familiar	familiar	ADJ
ajeer-220	81	53	as	as	SCONJ
ajeer-220	81	54	it	it	PRON
ajeer-220	81	55	(	(	PUNCT
ajeer-220	81	56	m&a	m&a	PROPN
ajeer-220	81	57	)	)	PUNCT
ajeer-220	81	58	leads	lead	VERB
ajeer-220	81	59	to	to	ADP
ajeer-220	81	60	almost	almost	ADV
ajeer-220	81	61	similar	similar	ADJ
ajeer-220	81	62	synergies	synergy	NOUN
ajeer-220	81	63	and	and	CCONJ
ajeer-220	81	64	therefore	therefore	ADV
ajeer-220	81	65	the	the	DET
ajeer-220	81	66	market	market	NOUN
ajeer-220	81	67	does	do	AUX
ajeer-220	81	68	not	not	PART
ajeer-220	81	69	react	react	VERB
ajeer-220	81	70	abnormally	abnormally	ADV
ajeer-220	81	71	.	.	PUNCT
ajeer-220	82	1	however	however	ADV
ajeer-220	82	2	,	,	PUNCT
ajeer-220	82	3	they	they	PRON
ajeer-220	82	4	argue	argue	VERB
ajeer-220	82	5	that	that	SCONJ
ajeer-220	82	6	value	value	NOUN
ajeer-220	82	7	creation	creation	NOUN
ajeer-220	82	8	can	can	AUX
ajeer-220	82	9	still	still	ADV
ajeer-220	82	10	be	be	AUX
ajeer-220	82	11	achieved	achieve	VERB
ajeer-220	82	12	by	by	ADP
ajeer-220	82	13	focusing	focus	VERB
ajeer-220	82	14	on	on	ADP
ajeer-220	82	15	several	several	ADJ
ajeer-220	82	16	areas	area	NOUN
ajeer-220	82	17	i.e.	i.e.	X
ajeer-220	82	18	treating	treat	VERB
ajeer-220	82	19	m&a	m&a	PROPN
ajeer-220	82	20	as	as	ADP
ajeer-220	82	21	holistic	holistic	ADJ
ajeer-220	82	22	process	process	NOUN
ajeer-220	82	23	,	,	PUNCT
ajeer-220	82	24	giving	give	VERB
ajeer-220	82	25	emphasis	emphasis	NOUN
ajeer-220	82	26	on	on	ADP
ajeer-220	82	27	value	value	NOUN
ajeer-220	82	28	creation	creation	NOUN
ajeer-220	82	29	rather	rather	ADV
ajeer-220	82	30	than	than	ADP
ajeer-220	82	31	integration	integration	NOUN
ajeer-220	82	32	and	and	CCONJ
ajeer-220	82	33	minimizing	minimize	VERB
ajeer-220	82	34	the	the	DET
ajeer-220	82	35	time	time	NOUN
ajeer-220	82	36	required	require	VERB
ajeer-220	82	37	to	to	PART
ajeer-220	82	38	execute	execute	VERB
ajeer-220	82	39	merger	merger	NOUN
ajeer-220	82	40	and	and	CCONJ
ajeer-220	82	41	acquisition	acquisition	NOUN
ajeer-220	82	42	.	.	PUNCT
ajeer-220	83	1	another	another	DET
ajeer-220	83	2	study	study	NOUN
ajeer-220	83	3	conducted	conduct	VERB
ajeer-220	83	4	by	by	ADP
ajeer-220	83	5	delaney	delaney	NOUN
ajeer-220	83	6	and	and	CCONJ
ajeer-220	83	7	wamuziri	wamuziri	NOUN
ajeer-220	83	8	(	(	PUNCT
ajeer-220	83	9	2004	2004	NUM
ajeer-220	83	10	)	)	PUNCT
ajeer-220	83	11	who	who	PRON
ajeer-220	83	12	investigate	investigate	VERB
ajeer-220	83	13	the	the	DET
ajeer-220	83	14	financial	financial	ADJ
ajeer-220	83	15	performance	performance	NOUN
ajeer-220	83	16	of	of	ADP
ajeer-220	83	17	uk	uk	PROPN
ajeer-220	83	18	’s	’s	PART
ajeer-220	83	19	construction	construction	NOUN
ajeer-220	83	20	companies	company	NOUN
ajeer-220	83	21	that	that	PRON
ajeer-220	83	22	have	have	AUX
ajeer-220	83	23	carried	carry	VERB
ajeer-220	83	24	out	out	ADP
ajeer-220	83	25	any	any	DET
ajeer-220	83	26	merger	merger	NOUN
ajeer-220	83	27	or	or	CCONJ
ajeer-220	83	28	acquisition	acquisition	NOUN
ajeer-220	83	29	deals	deal	NOUN
ajeer-220	83	30	in	in	ADP
ajeer-220	83	31	order	order	NOUN
ajeer-220	83	32	to	to	PART
ajeer-220	83	33	empirically	empirically	ADV
ajeer-220	83	34	examine	examine	VERB
ajeer-220	83	35	the	the	DET
ajeer-220	83	36	impact	impact	NOUN
ajeer-220	83	37	of	of	ADP
ajeer-220	83	38	merger	merger	NOUN
ajeer-220	83	39	announcement	announcement	NOUN
ajeer-220	83	40	on	on	ADP
ajeer-220	83	41	both	both	PRON
ajeer-220	83	42	acquiring	acquire	VERB
ajeer-220	83	43	and	and	CCONJ
ajeer-220	83	44	merging	merge	VERB
ajeer-220	83	45	firms	firm	NOUN
ajeer-220	83	46	stocks	stock	NOUN
ajeer-220	83	47	performance	performance	NOUN
ajeer-220	83	48	,	,	PUNCT
ajeer-220	83	49	reveals	reveal	VERB
ajeer-220	83	50	that	that	SCONJ
ajeer-220	83	51	shareholders	shareholder	NOUN
ajeer-220	83	52	of	of	ADP
ajeer-220	83	53	target	target	NOUN
ajeer-220	83	54	firms	firm	NOUN
ajeer-220	83	55	earn	earn	VERB
ajeer-220	83	56	abnormal	abnormal	ADJ
ajeer-220	83	57	positive	positive	ADJ
ajeer-220	83	58	returns	return	NOUN
ajeer-220	83	59	prior	prior	ADV
ajeer-220	83	60	to	to	ADP
ajeer-220	83	61	the	the	DET
ajeer-220	83	62	announcement	announcement	NOUN
ajeer-220	83	63	of	of	ADP
ajeer-220	83	64	an	an	DET
ajeer-220	83	65	acquirer	acquirer	NOUN
ajeer-220	83	66	firms	firm	NOUN
ajeer-220	83	67	bid	bid	VERB
ajeer-220	83	68	;	;	PUNCT
ajeer-220	83	69	however	however	ADV
ajeer-220	83	70	,	,	PUNCT
ajeer-220	83	71	it	it	PRON
ajeer-220	83	72	does	do	AUX
ajeer-220	83	73	not	not	PART
ajeer-220	83	74	last	last	VERB
ajeer-220	83	75	long	long	ADV
ajeer-220	83	76	enough	enough	ADV
ajeer-220	83	77	.	.	PUNCT
ajeer-220	84	1	the	the	DET
ajeer-220	84	2	study	study	NOUN
ajeer-220	84	3	further	far	ADV
ajeer-220	84	4	reveals	reveal	VERB
ajeer-220	84	5	that	that	SCONJ
ajeer-220	84	6	the	the	DET
ajeer-220	84	7	bidder	bidder	NOUN
ajeer-220	84	8	firms	firm	NOUN
ajeer-220	84	9	found	find	VERB
ajeer-220	84	10	to	to	PART
ajeer-220	84	11	be	be	AUX
ajeer-220	84	12	having	have	VERB
ajeer-220	84	13	greater	great	ADJ
ajeer-220	84	14	returns	return	NOUN
ajeer-220	84	15	in	in	ADP
ajeer-220	84	16	the	the	DET
ajeer-220	84	17	longer	long	ADJ
ajeer-220	84	18	period	period	NOUN
ajeer-220	84	19	following	follow	VERB
ajeer-220	84	20	the	the	DET
ajeer-220	84	21	merger	merger	NOUN
ajeer-220	84	22	announcement	announcement	NOUN
ajeer-220	84	23	mainly	mainly	ADV
ajeer-220	84	24	after	after	ADP
ajeer-220	84	25	forty	forty	NUM
ajeer-220	84	26	days	day	NOUN
ajeer-220	84	27	period	period	NOUN
ajeer-220	84	28	.	.	PUNCT
ajeer-220	85	1	this	this	PRON
ajeer-220	85	2	shows	show	VERB
ajeer-220	85	3	that	that	SCONJ
ajeer-220	85	4	market	market	NOUN
ajeer-220	85	5	does	do	AUX
ajeer-220	85	6	not	not	PART
ajeer-220	85	7	react	react	VERB
ajeer-220	85	8	instantly	instantly	ADV
ajeer-220	85	9	to	to	ADP
ajeer-220	85	10	the	the	DET
ajeer-220	85	11	bidders	bidder	NOUN
ajeer-220	85	12	’	’	PART
ajeer-220	85	13	firms	firm	NOUN
ajeer-220	85	14	stocks	stock	VERB
ajeer-220	85	15	prices	price	NOUN
ajeer-220	85	16	because	because	SCONJ
ajeer-220	85	17	for	for	ADP
ajeer-220	85	18	market	market	NOUN
ajeer-220	85	19	post	post	NOUN
ajeer-220	85	20	acquisition	acquisition	NOUN
ajeer-220	85	21	scenario	scenario	NOUN
ajeer-220	85	22	seems	seem	VERB
ajeer-220	85	23	to	to	PART
ajeer-220	85	24	be	be	AUX
ajeer-220	85	25	much	much	ADV
ajeer-220	85	26	more	more	ADV
ajeer-220	85	27	important	important	ADJ
ajeer-220	85	28	that	that	PRON
ajeer-220	85	29	appropriately	appropriately	ADV
ajeer-220	85	30	judges	judge	VERB
ajeer-220	85	31	the	the	DET
ajeer-220	85	32	success	success	NOUN
ajeer-220	85	33	or	or	CCONJ
ajeer-220	85	34	failure	failure	NOUN
ajeer-220	85	35	of	of	ADP
ajeer-220	85	36	any	any	DET
ajeer-220	85	37	underlying	underlying	ADJ
ajeer-220	85	38	m&a	m&a	NOUN
ajeer-220	85	39	;	;	PUNCT
ajeer-220	85	40	as	as	ADP
ajeer-220	85	41	goergen	goergen	NOUN
ajeer-220	85	42	and	and	CCONJ
ajeer-220	85	43	renneboog	renneboog	NOUN
ajeer-220	85	44	(	(	PUNCT
ajeer-220	85	45	2003	2003	NUM
ajeer-220	85	46	)	)	PUNCT
ajeer-220	85	47	who	who	PRON
ajeer-220	85	48	investigate	investigate	VERB
ajeer-220	85	49	the	the	DET
ajeer-220	85	50	short	short	ADJ
ajeer-220	85	51	-	-	PUNCT
ajeer-220	85	52	term	term	NOUN
ajeer-220	85	53	wealth	wealth	NOUN
ajeer-220	85	54	effects	effect	NOUN
ajeer-220	85	55	of	of	ADP
ajeer-220	85	56	large	large	ADJ
ajeer-220	85	57	(	(	PUNCT
ajeer-220	85	58	intra)european	intra)european	NOUN
ajeer-220	85	59	takeover	takeover	NOUN
ajeer-220	85	60	bids	bid	NOUN
ajeer-220	85	61	to	to	PART
ajeer-220	85	62	determine	determine	VERB
ajeer-220	85	63	whether	whether	SCONJ
ajeer-220	85	64	short	short	ADJ
ajeer-220	85	65	-	-	PUNCT
ajeer-220	85	66	term	term	NOUN
ajeer-220	85	67	gain	gain	NOUN
ajeer-220	85	68	can	can	AUX
ajeer-220	85	69	be	be	AUX
ajeer-220	85	70	achieved	achieve	VERB
ajeer-220	85	71	through	through	ADP
ajeer-220	85	72	m&a	m&a	PROPN
ajeer-220	85	73	,	,	PUNCT
ajeer-220	85	74	argue	argue	VERB
ajeer-220	85	75	that	that	SCONJ
ajeer-220	85	76	in	in	ADP
ajeer-220	85	77	most	most	ADJ
ajeer-220	85	78	of	of	ADP
ajeer-220	85	79	the	the	DET
ajeer-220	85	80	cases	case	NOUN
ajeer-220	85	81	the	the	DET
ajeer-220	85	82	shareholders	shareholder	NOUN
ajeer-220	85	83	of	of	ADP
ajeer-220	85	84	target	target	NOUN
ajeer-220	85	85	firms	firm	NOUN
ajeer-220	85	86	demand	demand	VERB
ajeer-220	85	87	a	a	DET
ajeer-220	85	88	premium	premium	NOUN
ajeer-220	85	89	over	over	ADP
ajeer-220	85	90	and	and	CCONJ
ajeer-220	85	91	above	above	ADP
ajeer-220	85	92	the	the	DET
ajeer-220	85	93	current	current	ADJ
ajeer-220	85	94	stock	stock	NOUN
ajeer-220	85	95	price	price	NOUN
ajeer-220	85	96	as	as	ADP
ajeer-220	85	97	a	a	DET
ajeer-220	85	98	condition	condition	NOUN
ajeer-220	85	99	to	to	PART
ajeer-220	85	100	accept	accept	VERB
ajeer-220	85	101	the	the	DET
ajeer-220	85	102	acquisition	acquisition	NOUN
ajeer-220	85	103	offer	offer	NOUN
ajeer-220	85	104	,	,	PUNCT
ajeer-220	85	105	therefore	therefore	ADV
ajeer-220	85	106	,	,	PUNCT
ajeer-220	85	107	the	the	DET
ajeer-220	85	108	acquiring	acquire	VERB
ajeer-220	85	109	firm	firm	NOUN
ajeer-220	85	110	would	would	AUX
ajeer-220	85	111	require	require	VERB
ajeer-220	85	112	efficient	efficient	ADJ
ajeer-220	85	113	managerial	managerial	ADJ
ajeer-220	85	114	strategy	strategy	NOUN
ajeer-220	85	115	to	to	PART
ajeer-220	85	116	cover	cover	VERB
ajeer-220	85	117	the	the	DET
ajeer-220	85	118	cost	cost	NOUN
ajeer-220	85	119	of	of	ADP
ajeer-220	85	120	the	the	DET
ajeer-220	85	121	m&a	m&a	PROPN
ajeer-220	85	122	as	as	ADV
ajeer-220	85	123	well	well	ADV
ajeer-220	85	124	as	as	ADP
ajeer-220	85	125	create	create	VERB
ajeer-220	85	126	value	value	NOUN
ajeer-220	85	127	for	for	ADP
ajeer-220	85	128	the	the	DET
ajeer-220	85	129	shareholders	shareholder	NOUN
ajeer-220	85	130	.	.	PUNCT
ajeer-220	86	1	this	this	PRON
ajeer-220	86	2	puts	put	VERB
ajeer-220	86	3	greater	great	ADJ
ajeer-220	86	4	emphasis	emphasis	NOUN
ajeer-220	86	5	on	on	ADP
ajeer-220	86	6	the	the	DET
ajeer-220	86	7	acquirer	acquirer	NOUN
ajeer-220	86	8	firm	firm	ADJ
ajeer-220	86	9	capabilities	capability	NOUN
ajeer-220	86	10	to	to	PART
ajeer-220	86	11	generate	generate	VERB
ajeer-220	86	12	increased	increase	VERB
ajeer-220	86	13	cash	cash	NOUN
ajeer-220	86	14	flow	flow	NOUN
ajeer-220	86	15	stream	stream	NOUN
ajeer-220	86	16	that	that	PRON
ajeer-220	86	17	exceeds	exceed	VERB
ajeer-220	86	18	the	the	DET
ajeer-220	86	19	acquisition	acquisition	NOUN
ajeer-220	86	20	bid	bid	NOUN
ajeer-220	86	21	premium	premium	NOUN
ajeer-220	86	22	.	.	PUNCT
ajeer-220	87	1	this	this	PRON
ajeer-220	87	2	is	be	AUX
ajeer-220	87	3	well	well	ADV
ajeer-220	87	4	evident	evident	ADJ
ajeer-220	87	5	by	by	ADP
ajeer-220	87	6	the	the	DET
ajeer-220	87	7	findings	finding	NOUN
ajeer-220	87	8	of	of	ADP
ajeer-220	87	9	schoenberg	schoenberg	PROPN
ajeer-220	87	10	and	and	CCONJ
ajeer-220	87	11	bowman	bowman	PROPN
ajeer-220	87	12	(	(	PUNCT
ajeer-220	87	13	2010	2010	NUM
ajeer-220	87	14	)	)	PUNCT
ajeer-220	87	15	who	who	PRON
ajeer-220	87	16	,	,	PUNCT
ajeer-220	87	17	by	by	ADP
ajeer-220	87	18	proposing	propose	VERB
ajeer-220	87	19	a	a	DET
ajeer-220	87	20	typology	typology	NOUN
ajeer-220	87	21	of	of	ADP
ajeer-220	87	22	acquisition	acquisition	NOUN
ajeer-220	87	23	value	value	NOUN
ajeer-220	87	24	creation	creation	NOUN
ajeer-220	87	25	logics	logic	NOUN
ajeer-220	87	26	and	and	CCONJ
ajeer-220	87	27	recommending	recommend	VERB
ajeer-220	87	28	implementation	implementation	NOUN
ajeer-220	87	29	process	process	NOUN
ajeer-220	87	30	based	base	VERB
ajeer-220	87	31	on	on	ADP
ajeer-220	87	32	governance	governance	NOUN
ajeer-220	87	33	,	,	PUNCT
ajeer-220	87	34	cost	cost	NOUN
ajeer-220	87	35	and	and	CCONJ
ajeer-220	87	36	knowledge	knowledge	NOUN
ajeer-220	87	37	variables	variable	NOUN
ajeer-220	87	38	,	,	PUNCT
ajeer-220	87	39	argue	argue	VERB
ajeer-220	87	40	that	that	SCONJ
ajeer-220	87	41	value	value	NOUN
ajeer-220	87	42	creation	creation	NOUN
ajeer-220	87	43	in	in	ADP
ajeer-220	87	44	the	the	DET
ajeer-220	87	45	merger	merger	NOUN
ajeer-220	87	46	and	and	CCONJ
ajeer-220	87	47	acquisition	acquisition	NOUN
ajeer-220	87	48	process	process	NOUN
ajeer-220	87	49	is	be	AUX
ajeer-220	87	50	entirely	entirely	ADV
ajeer-220	87	51	dependent	dependent	ADJ
ajeer-220	87	52	on	on	ADP
ajeer-220	87	53	the	the	DET
ajeer-220	87	54	organizational	organizational	ADJ
ajeer-220	87	55	capabilities	capability	NOUN
ajeer-220	87	56	of	of	ADP
ajeer-220	87	57	the	the	DET
ajeer-220	87	58	acquirer	acquirer	NOUN
ajeer-220	87	59	to	to	PART
ajeer-220	87	60	cover	cover	VERB
ajeer-220	87	61	successfully	successfully	ADV
ajeer-220	87	62	the	the	DET
ajeer-220	87	63	post	post	NOUN
ajeer-220	87	64	implementation	implementation	NOUN
ajeer-220	87	65	phase	phase	NOUN
ajeer-220	87	66	.	.	PUNCT
ajeer-220	88	1	according	accord	VERB
ajeer-220	88	2	to	to	ADP
ajeer-220	88	3	schweiger	schweiger	NOUN
ajeer-220	88	4	and	and	CCONJ
ajeer-220	88	5	very	very	ADV
ajeer-220	88	6	(	(	PUNCT
ajeer-220	88	7	2003	2003	NUM
ajeer-220	88	8	)	)	PUNCT
ajeer-220	88	9	who	who	PRON
ajeer-220	88	10	investigating	investigate	VERB
ajeer-220	88	11	the	the	DET
ajeer-220	88	12	complex	complex	ADJ
ajeer-220	88	13	relationship	relationship	NOUN
ajeer-220	88	14	between	between	ADP
ajeer-220	88	15	valuation	valuation	NOUN
ajeer-220	88	16	,	,	PUNCT
ajeer-220	88	17	pricing	pricing	NOUN
ajeer-220	88	18	,	,	PUNCT
ajeer-220	88	19	strategic	strategic	ADJ
ajeer-220	88	20	objectives	objective	NOUN
ajeer-220	88	21	,	,	PUNCT
ajeer-220	88	22	synergies	synergy	NOUN
ajeer-220	88	23	and	and	CCONJ
ajeer-220	88	24	integration	integration	NOUN
ajeer-220	88	25	in	in	ADP
ajeer-220	88	26	the	the	DET
ajeer-220	88	27	m&a	m&a	PROPN
ajeer-220	88	28	process	process	NOUN
ajeer-220	88	29	,	,	PUNCT
ajeer-220	88	30	argue	argue	VERB
ajeer-220	88	31	that	that	SCONJ
ajeer-220	88	32	it	it	PRON
ajeer-220	88	33	is	be	AUX
ajeer-220	88	34	the	the	DET
ajeer-220	88	35	successful	successful	ADJ
ajeer-220	88	36	integration	integration	NOUN
ajeer-220	88	37	of	of	ADP
ajeer-220	88	38	m&a	m&a	PROPN
ajeer-220	88	39	that	that	PRON
ajeer-220	88	40	leads	lead	VERB
ajeer-220	88	41	to	to	PART
ajeer-220	88	42	value	value	VERB
ajeer-220	88	43	creation	creation	NOUN
ajeer-220	88	44	as	as	ADP
ajeer-220	88	45	previous	previous	ADJ
ajeer-220	88	46	records	record	NOUN
ajeer-220	88	47	show	show	VERB
ajeer-220	88	48	that	that	SCONJ
ajeer-220	88	49	majority	majority	NOUN
ajeer-220	88	50	of	of	ADP
ajeer-220	88	51	the	the	DET
ajeer-220	88	52	m&as	m&as	NOUN
ajeer-220	88	53	proved	prove	VERB
ajeer-220	88	54	to	to	PART
ajeer-220	88	55	be	be	AUX
ajeer-220	88	56	unsuccessful	unsuccessful	ADJ
ajeer-220	88	57	in	in	ADP
ajeer-220	88	58	terms	term	NOUN
ajeer-220	88	59	of	of	ADP
ajeer-220	88	60	financial	financial	ADJ
ajeer-220	88	61	expectations	expectation	NOUN
ajeer-220	88	62	which	which	PRON
ajeer-220	88	63	is	be	AUX
ajeer-220	88	64	contributable	contributable	ADJ
ajeer-220	88	65	to	to	PART
ajeer-220	88	66	lack	lack	VERB
ajeer-220	88	67	of	of	ADP
ajeer-220	88	68	strategic	strategic	ADJ
ajeer-220	88	69	fit	fit	ADJ
ajeer-220	88	70	or	or	CCONJ
ajeer-220	88	71	inadequate	inadequate	ADJ
ajeer-220	88	72	due	due	ADJ
ajeer-220	88	73	diligence	diligence	NOUN
ajeer-220	88	74	.	.	PUNCT
ajeer-220	89	1	similarly	similarly	ADV
ajeer-220	89	2	,	,	PUNCT
ajeer-220	89	3	ray	ray	NOUN
ajeer-220	89	4	and	and	CCONJ
ajeer-220	89	5	ray	ray	PROPN
ajeer-220	89	6	(	(	PUNCT
ajeer-220	89	7	2013	2013	NUM
ajeer-220	89	8	)	)	PUNCT
ajeer-220	89	9	who	who	PRON
ajeer-220	89	10	propounding	propound	VERB
ajeer-220	89	11	a	a	DET
ajeer-220	89	12	different	different	ADJ
ajeer-220	89	13	connotation	connotation	NOUN
ajeer-220	89	14	of	of	ADP
ajeer-220	89	15	synergy	synergy	NOUN
ajeer-220	89	16	for	for	ADP
ajeer-220	89	17	cross	cross	NOUN
ajeer-220	89	18	border	border	NOUN
ajeer-220	89	19	m&as	m&as	NOUN
ajeer-220	89	20	,	,	PUNCT
ajeer-220	89	21	also	also	ADV
ajeer-220	89	22	argue	argue	VERB
ajeer-220	89	23	that	that	SCONJ
ajeer-220	89	24	value	value	NOUN
ajeer-220	89	25	creation	creation	NOUN
ajeer-220	89	26	can	can	AUX
ajeer-220	89	27	only	only	ADV
ajeer-220	89	28	be	be	AUX
ajeer-220	89	29	achieved	achieve	VERB
ajeer-220	89	30	through	through	ADP
ajeer-220	89	31	successful	successful	ADJ
ajeer-220	89	32	implementation	implementation	NOUN
ajeer-220	89	33	of	of	ADP
ajeer-220	89	34	post	post	ADJ
ajeer-220	89	35	-	-	ADJ
ajeer-220	89	36	acquisition	acquisition	ADJ
ajeer-220	89	37	integration	integration	NOUN
ajeer-220	89	38	plan	plan	NOUN
ajeer-220	89	39	.	.	PUNCT
ajeer-220	90	1	this	this	PRON
ajeer-220	90	2	shows	show	VERB
ajeer-220	90	3	that	that	SCONJ
ajeer-220	90	4	m&a	m&a	PROPN
ajeer-220	90	5	is	be	AUX
ajeer-220	90	6	holistic	holistic	ADJ
ajeer-220	90	7	process	process	NOUN
ajeer-220	90	8	where	where	SCONJ
ajeer-220	90	9	in	in	ADP
ajeer-220	90	10	addition	addition	NOUN
ajeer-220	90	11	to	to	ADP
ajeer-220	90	12	incremental	incremental	ADJ
ajeer-220	90	13	cost	cost	NOUN
ajeer-220	90	14	other	other	ADJ
ajeer-220	90	15	aspects	aspect	NOUN
ajeer-220	90	16	such	such	ADJ
ajeer-220	90	17	as	as	ADP
ajeer-220	90	18	over	over	ADP
ajeer-220	90	19	valuation	valuation	NOUN
ajeer-220	90	20	,	,	PUNCT
ajeer-220	90	21	potential	potential	ADJ
ajeer-220	90	22	synergies	synergy	NOUN
ajeer-220	90	23	etc	etc	X
ajeer-220	90	24	should	should	AUX
ajeer-220	90	25	be	be	AUX
ajeer-220	90	26	examined	examine	VERB
ajeer-220	90	27	prudently	prudently	ADV
ajeer-220	90	28	.	.	PUNCT
ajeer-220	91	1	in	in	ADP
ajeer-220	91	2	order	order	NOUN
ajeer-220	91	3	to	to	PART
ajeer-220	91	4	expand	expand	VERB
ajeer-220	91	5	and	and	CCONJ
ajeer-220	91	6	reap	reap	VERB
ajeer-220	91	7	the	the	DET
ajeer-220	91	8	benefits	benefit	NOUN
ajeer-220	91	9	of	of	ADP
ajeer-220	91	10	synergies	synergy	NOUN
ajeer-220	91	11	companies	company	NOUN
ajeer-220	91	12	across	across	ADP
ajeer-220	91	13	the	the	DET
ajeer-220	91	14	world	world	NOUN
ajeer-220	91	15	strive	strive	VERB
ajeer-220	91	16	hard	hard	ADV
ajeer-220	91	17	to	to	PART
ajeer-220	91	18	make	make	VERB
ajeer-220	91	19	acquisition	acquisition	NOUN
ajeer-220	91	20	deals	deal	NOUN
ajeer-220	91	21	more	more	ADJ
ajeer-220	91	22	than	than	ADP
ajeer-220	91	23	ever	ever	ADV
ajeer-220	91	24	before	before	ADV
ajeer-220	91	25	as	as	SCONJ
ajeer-220	91	26	is	be	AUX
ajeer-220	91	27	evident	evident	ADJ
ajeer-220	91	28	by	by	ADP
ajeer-220	91	29	bloomberg	bloomberg	PROPN
ajeer-220	91	30	findings	finding	NOUN
ajeer-220	91	31	that	that	PRON
ajeer-220	91	32	reveals	reveal	VERB
ajeer-220	91	33	that	that	SCONJ
ajeer-220	91	34	$	$	SYM
ajeer-220	91	35	467	467	NUM
ajeer-220	91	36	billion	billion	NUM
ajeer-220	91	37	worth	worth	NOUN
ajeer-220	91	38	of	of	ADP
ajeer-220	91	39	m&a	m&a	PROPN
ajeer-220	91	40	deals	deal	NOUN
ajeer-220	91	41	have	have	AUX
ajeer-220	91	42	been	be	AUX
ajeer-220	91	43	announced	announce	VERB
ajeer-220	91	44	in	in	ADP
ajeer-220	91	45	the	the	DET
ajeer-220	91	46	first	first	ADJ
ajeer-220	91	47	quarter	quarter	NOUN
ajeer-220	91	48	of	of	ADP
ajeer-220	91	49	2015	2015	NUM
ajeer-220	91	50	while	while	SCONJ
ajeer-220	91	51	it	it	PRON
ajeer-220	91	52	predicts	predict	VERB
ajeer-220	91	53	that	that	SCONJ
ajeer-220	91	54	if	if	SCONJ
ajeer-220	91	55	the	the	DET
ajeer-220	91	56	deals	deal	NOUN
ajeer-220	91	57	continued	continue	VERB
ajeer-220	91	58	with	with	ADP
ajeer-220	91	59	this	this	DET
ajeer-220	91	60	pace	pace	NOUN
ajeer-220	91	61	it	it	PRON
ajeer-220	91	62	can	can	AUX
ajeer-220	91	63	beat	beat	VERB
ajeer-220	91	64	prerecession	prerecession	NOUN
ajeer-220	91	65	period	period	NOUN
ajeer-220	91	66	of	of	ADP
ajeer-220	91	67	summer	summer	NOUN
ajeer-220	91	68	2007	2007	NUM
ajeer-220	91	69	when	when	SCONJ
ajeer-220	91	70	m&a	m&a	PROPN
ajeer-220	91	71	proposals	proposal	NOUN
ajeer-220	91	72	reached	reach	VERB
ajeer-220	91	73	to	to	ADP
ajeer-220	91	74	$	$	SYM
ajeer-220	91	75	933.4	933.4	NUM
ajeer-220	91	76	billion	billion	NUM
ajeer-220	91	77	(	(	PUNCT
ajeer-220	91	78	bloomberg	bloomberg	NOUN
ajeer-220	91	79	,	,	PUNCT
ajeer-220	91	80	2015	2015	NUM
ajeer-220	91	81	)	)	PUNCT
ajeer-220	91	82	more	more	ADJ
ajeer-220	91	83	than	than	ADP
ajeer-220	91	84	fifty	fifty	NUM
ajeer-220	91	85	percent	percent	NOUN
ajeer-220	91	86	of	of	ADP
ajeer-220	91	87	the	the	DET
ajeer-220	91	88	deals	deal	NOUN
ajeer-220	91	89	occurred	occur	VERB
ajeer-220	91	90	in	in	ADP
ajeer-220	91	91	america	america	PROPN
ajeer-220	91	92	and	and	CCONJ
ajeer-220	91	93	britain	britain	PROPN
ajeer-220	91	94	where	where	SCONJ
ajeer-220	91	95	both	both	PRON
ajeer-220	91	96	having	have	VERB
ajeer-220	91	97	open	open	ADJ
ajeer-220	91	98	markets	market	NOUN
ajeer-220	91	99	for	for	ADP
ajeer-220	91	100	corporate	corporate	ADJ
ajeer-220	91	101	(	(	PUNCT
ajeer-220	91	102	the	the	DET
ajeer-220	91	103	economist	economist	NOUN
ajeer-220	91	104	,	,	PUNCT
ajeer-220	91	105	2014	2014	NUM
ajeer-220	91	106	)	)	PUNCT
ajeer-220	91	107	.	.	PUNCT
ajeer-220	92	1	nevertheless	nevertheless	ADV
ajeer-220	92	2	,	,	PUNCT
ajeer-220	92	3	one	one	NUM
ajeer-220	92	4	of	of	ADP
ajeer-220	92	5	the	the	DET
ajeer-220	92	6	senior	senior	ADJ
ajeer-220	92	7	funds	fund	NOUN
ajeer-220	92	8	manager	manager	NOUN
ajeer-220	92	9	(	(	PUNCT
ajeer-220	92	10	cited	cite	VERB
ajeer-220	92	11	by	by	ADP
ajeer-220	92	12	the	the	DET
ajeer-220	92	13	economist	economist	NOUN
ajeer-220	92	14	(	(	PUNCT
ajeer-220	92	15	2014	2014	NUM
ajeer-220	92	16	)	)	PUNCT
ajeer-220	92	17	)	)	PUNCT
ajeer-220	92	18	argue	argue	VERB
ajeer-220	92	19	that	that	SCONJ
ajeer-220	92	20	m&a	m&a	PROPN
ajeer-220	92	21	deals	deal	VERB
ajeer-220	92	22	only	only	ADV
ajeer-220	92	23	benefit	benefit	VERB
ajeer-220	92	24	executives	executive	NOUN
ajeer-220	92	25	and	and	CCONJ
ajeer-220	92	26	enrich	enrich	VERB
ajeer-220	92	27	bankers	banker	NOUN
ajeer-220	92	28	at	at	ADP
ajeer-220	92	29	the	the	DET
ajeer-220	92	30	expense	expense	NOUN
ajeer-220	92	31	of	of	ADP
ajeer-220	92	32	shareholders	shareholder	NOUN
ajeer-220	92	33	,	,	PUNCT
ajeer-220	92	34	as	as	SCONJ
ajeer-220	92	35	he	he	PRON
ajeer-220	92	36	argues	argue	VERB
ajeer-220	92	37	that	that	SCONJ
ajeer-220	92	38	when	when	SCONJ
ajeer-220	92	39	firm	firm	ADJ
ajeer-220	92	40	announce	announce	VERB
ajeer-220	92	41	acquisition	acquisition	NOUN
ajeer-220	92	42	share	share	NOUN
ajeer-220	92	43	prices	price	NOUN
ajeer-220	92	44	of	of	ADP
ajeer-220	92	45	the	the	DET
ajeer-220	92	46	acquiring	acquire	VERB
ajeer-220	92	47	firm	firm	NOUN
ajeer-220	92	48	starts	start	VERB
ajeer-220	92	49	to	to	PART
ajeer-220	92	50	fall	fall	VERB
ajeer-220	92	51	because	because	SCONJ
ajeer-220	92	52	investors	investor	NOUN
ajeer-220	92	53	fear	fear	VERB
ajeer-220	92	54	that	that	SCONJ
ajeer-220	92	55	the	the	DET
ajeer-220	92	56	premium	premium	NOUN
ajeer-220	92	57	they	they	PRON
ajeer-220	92	58	pay	pay	VERB
ajeer-220	92	59	could	could	AUX
ajeer-220	92	60	exceed	exceed	VERB
ajeer-220	92	61	the	the	DET
ajeer-220	92	62	benefits	benefit	NOUN
ajeer-220	92	63	from	from	ADP
ajeer-220	92	64	the	the	DET
ajeer-220	92	65	potential	potential	ADJ
ajeer-220	92	66	synergy	synergy	NOUN
ajeer-220	92	67	.	.	PUNCT
ajeer-220	93	1	contrary	contrary	ADJ
ajeer-220	93	2	to	to	ADP
ajeer-220	93	3	this	this	DET
ajeer-220	93	4	mckinsey	mckinsey	NOUN
ajeer-220	93	5	consulting	consult	VERB
ajeer-220	93	6	firm	firm	NOUN
ajeer-220	93	7	argues	argue	VERB
ajeer-220	93	8	(	(	PUNCT
ajeer-220	93	9	cited	cite	VERB
ajeer-220	93	10	by	by	ADP
ajeer-220	93	11	the	the	DET
ajeer-220	93	12	economist	economist	NOUN
ajeer-220	93	13	(	(	PUNCT
ajeer-220	93	14	2014	2014	NUM
ajeer-220	93	15	)	)	PUNCT
ajeer-220	93	16	)	)	PUNCT
ajeer-220	93	17	that	that	SCONJ
ajeer-220	93	18	since	since	SCONJ
ajeer-220	93	19	2012	2012	NUM
ajeer-220	93	20	share	share	NOUN
ajeer-220	93	21	prices	price	NOUN
ajeer-220	93	22	of	of	ADP
ajeer-220	93	23	the	the	DET
ajeer-220	93	24	acquiring	acquire	VERB
ajeer-220	93	25	firms	firm	NOUN
ajeer-220	93	26	either	either	CCONJ
ajeer-220	93	27	remained	remain	VERB
ajeer-220	93	28	stable	stable	ADJ
ajeer-220	93	29	or	or	CCONJ
ajeer-220	93	30	have	have	AUX
ajeer-220	93	31	risen	rise	VERB
ajeer-220	93	32	which	which	PRON
ajeer-220	93	33	certainly	certainly	ADV
ajeer-220	93	34	leaves	leave	VERB
ajeer-220	93	35	a	a	DET
ajeer-220	93	36	room	room	NOUN
ajeer-220	93	37	for	for	ADP
ajeer-220	93	38	further	further	ADJ
ajeer-220	93	39	empirical	empirical	ADJ
ajeer-220	93	40	investigation	investigation	NOUN
ajeer-220	93	41	.	.	PUNCT
ajeer-220	94	1	in	in	ADP
ajeer-220	94	2	the	the	DET
ajeer-220	94	3	context	context	NOUN
ajeer-220	94	4	of	of	ADP
ajeer-220	94	5	uk	uk	PROPN
ajeer-220	94	6	market	market	NOUN
ajeer-220	94	7	merger	merger	NOUN
ajeer-220	94	8	and	and	CCONJ
ajeer-220	94	9	acquisition	acquisition	NOUN
ajeer-220	94	10	is	be	AUX
ajeer-220	94	11	being	be	AUX
ajeer-220	94	12	viewed	view	VERB
ajeer-220	94	13	as	as	ADP
ajeer-220	94	14	the	the	DET
ajeer-220	94	15	major	major	ADJ
ajeer-220	94	16	strategic	strategic	ADJ
ajeer-220	94	17	tool	tool	NOUN
ajeer-220	94	18	through	through	ADP
ajeer-220	94	19	which	which	PRON
ajeer-220	94	20	companies	company	NOUN
ajeer-220	94	21	can	can	AUX
ajeer-220	94	22	gain	gain	VERB
ajeer-220	94	23	short	short	ADJ
ajeer-220	94	24	-	-	PUNCT
ajeer-220	94	25	term	term	NOUN
ajeer-220	94	26	financial	financial	ADJ
ajeer-220	94	27	gains	gain	NOUN
ajeer-220	94	28	for	for	ADP
ajeer-220	94	29	shareholders	shareholder	NOUN
ajeer-220	94	30	.	.	PUNCT
ajeer-220	95	1	however	however	ADV
ajeer-220	95	2	,	,	PUNCT
ajeer-220	95	3	the	the	DET
ajeer-220	95	4	more	more	ADV
ajeer-220	95	5	encouraging	encouraging	ADJ
ajeer-220	95	6	determinant	determinant	NOUN
ajeer-220	95	7	of	of	ADP
ajeer-220	95	8	m&a	m&a	PROPN
ajeer-220	95	9	for	for	ADP
ajeer-220	95	10	uk	uk	PROPN
ajeer-220	95	11	companies	company	NOUN
ajeer-220	95	12	is	be	AUX
ajeer-220	95	13	to	to	PART
ajeer-220	95	14	acquire	acquire	VERB
ajeer-220	95	15	more	more	ADJ
ajeer-220	95	16	market	market	NOUN
ajeer-220	95	17	share	share	NOUN
ajeer-220	95	18	in	in	ADP
ajeer-220	95	19	order	order	NOUN
ajeer-220	95	20	to	to	PART
ajeer-220	95	21	gain	gain	VERB
ajeer-220	95	22	long	long	ADJ
ajeer-220	95	23	term	term	NOUN
ajeer-220	95	24	financial	financial	ADJ
ajeer-220	95	25	objectives	objective	NOUN
ajeer-220	95	26	as	as	ADP
ajeer-220	95	27	the	the	DET
ajeer-220	95	28	findings	finding	NOUN
ajeer-220	95	29	of	of	ADP
ajeer-220	95	30	jansson	jansson	PROPN
ajeer-220	95	31	et	et	PROPN
ajeer-220	95	32	al	al	PROPN
ajeer-220	95	33	.	.	PROPN
ajeer-220	96	1	(	(	PUNCT
ajeer-220	96	2	1994	1994	NUM
ajeer-220	96	3	)	)	PUNCT
ajeer-220	96	4	revealed	reveal	VERB
ajeer-220	96	5	who	who	PRON
ajeer-220	96	6	carried	carry	VERB
ajeer-220	96	7	out	out	ADP
ajeer-220	96	8	investigating	investigate	VERB
ajeer-220	96	9	the	the	DET
ajeer-220	96	10	determinants	determinant	NOUN
ajeer-220	96	11	of	of	ADP
ajeer-220	96	12	cbma	cbma	PROPN
ajeer-220	96	13	of	of	ADP
ajeer-220	96	14	uk	uk	PROPN
ajeer-220	96	15	manufacturing	manufacture	VERB
ajeer-220	96	16	companies	company	NOUN
ajeer-220	96	17	in	in	ADP
ajeer-220	96	18	europe	europe	PROPN
ajeer-220	96	19	.	.	PUNCT
ajeer-220	97	1	as	as	ADP
ajeer-220	97	2	evident	evident	ADJ
ajeer-220	97	3	from	from	ADP
ajeer-220	97	4	the	the	DET
ajeer-220	97	5	past	past	NOUN
ajeer-220	97	6	literature	literature	NOUN
ajeer-220	97	7	uk	uk	PROPN
ajeer-220	97	8	companies	company	NOUN
ajeer-220	97	9	had	have	VERB
ajeer-220	97	10	the	the	DET
ajeer-220	97	11	highest	high	ADJ
ajeer-220	97	12	investments	investment	NOUN
ajeer-220	97	13	in	in	ADP
ajeer-220	97	14	foreign	foreign	ADJ
ajeer-220	97	15	industrialized	industrialize	VERB
ajeer-220	97	16	countries	country	NOUN
ajeer-220	97	17	through	through	ADP
ajeer-220	97	18	the	the	DET
ajeer-220	97	19	acquisition	acquisition	NOUN
ajeer-220	97	20	of	of	ADP
ajeer-220	97	21	foreign	foreign	ADJ
ajeer-220	97	22	companies	company	NOUN
ajeer-220	97	23	.	.	PUNCT
ajeer-220	98	1	eu	eu	PROPN
ajeer-220	98	2	companies	company	NOUN
ajeer-220	98	3	in	in	ADP
ajeer-220	98	4	particular	particular	ADJ
ajeer-220	98	5	were	be	AUX
ajeer-220	98	6	the	the	DET
ajeer-220	98	7	highest	high	ADJ
ajeer-220	98	8	targets	target	NOUN
ajeer-220	98	9	for	for	ADP
ajeer-220	98	10	uk	uk	PROPN
ajeer-220	98	11	companies	company	NOUN
ajeer-220	98	12	however	however	ADV
ajeer-220	98	13	between	between	ADP
ajeer-220	98	14	1995	1995	NUM
ajeer-220	98	15	to	to	ADP
ajeer-220	98	16	2005	2005	NUM
ajeer-220	98	17	uk	uk	PROPN
ajeer-220	98	18	companies	company	NOUN
ajeer-220	98	19	acquired	acquire	VERB
ajeer-220	98	20	us	we	PRON
ajeer-220	98	21	firms	firm	NOUN
ajeer-220	98	22	which	which	PRON
ajeer-220	98	23	accounted	account	VERB
ajeer-220	98	24	for	for	ADP
ajeer-220	98	25	29	29	NUM
ajeer-220	98	26	percent	percent	NOUN
ajeer-220	98	27	of	of	ADP
ajeer-220	98	28	the	the	DET
ajeer-220	98	29	overall	overall	ADJ
ajeer-220	98	30	cross	cross	NOUN
ajeer-220	98	31	border	border	NOUN
ajeer-220	98	32	mergers	merger	NOUN
ajeer-220	98	33	during	during	ADP
ajeer-220	98	34	the	the	DET
ajeer-220	98	35	mentioned	mention	VERB
ajeer-220	98	36	period	period	NOUN
ajeer-220	98	37	.	.	PUNCT
ajeer-220	99	1	similarly	similarly	ADV
ajeer-220	99	2	,	,	PUNCT
ajeer-220	99	3	asia	asia	PROPN
ajeer-220	99	4	-	-	PUNCT
ajeer-220	99	5	pacific	pacific	PROPN
ajeer-220	99	6	region	region	NOUN
ajeer-220	99	7	also	also	ADV
ajeer-220	99	8	remained	remain	VERB
ajeer-220	99	9	a	a	DET
ajeer-220	99	10	third	third	ADJ
ajeer-220	99	11	target	target	NOUN
ajeer-220	99	12	for	for	ADP
ajeer-220	99	13	the	the	DET
ajeer-220	99	14	uk	uk	PROPN
ajeer-220	99	15	firms	firm	NOUN
ajeer-220	99	16	as	as	SCONJ
ajeer-220	99	17	argued	argue	VERB
ajeer-220	99	18	by	by	ADP
ajeer-220	99	19	ahammad	ahammad	NOUN
ajeer-220	99	20	and	and	CCONJ
ajeer-220	99	21	glaister	glaister	NOUN
ajeer-220	99	22	(	(	PUNCT
ajeer-220	99	23	2008	2008	NUM
ajeer-220	99	24	)	)	PUNCT
ajeer-220	99	25	who	who	PRON
ajeer-220	99	26	investigated	investigate	VERB
ajeer-220	99	27	the	the	DET
ajeer-220	99	28	driving	drive	VERB
ajeer-220	99	29	forces	force	NOUN
ajeer-220	99	30	behind	behind	ADP
ajeer-220	99	31	the	the	DET
ajeer-220	99	32	ever	ever	ADV
ajeer-220	99	33	increasing	increase	VERB
ajeer-220	99	34	m&a	m&a	PROPN
ajeer-220	99	35	deals	deal	NOUN
ajeer-220	99	36	and	and	CCONJ
ajeer-220	99	37	also	also	ADV
ajeer-220	99	38	reviewed	review	VERB
ajeer-220	99	39	the	the	DET
ajeer-220	99	40	recent	recent	ADJ
ajeer-220	99	41	trend	trend	NOUN
ajeer-220	99	42	of	of	ADP
ajeer-220	99	43	cbma	cbma	PROPN
ajeer-220	99	44	by	by	ADP
ajeer-220	99	45	uk	uk	PROPN
ajeer-220	99	46	firms	firm	NOUN
ajeer-220	99	47	.	.	PUNCT
ajeer-220	100	1	the	the	DET
ajeer-220	100	2	uk	uk	PROPN
ajeer-220	100	3	companies	company	NOUN
ajeer-220	100	4	follow	follow	VERB
ajeer-220	100	5	standard	standard	ADJ
ajeer-220	100	6	term	term	NOUN
ajeer-220	100	7	i.e.	i.e.	X
ajeer-220	100	8	they	they	PRON
ajeer-220	100	9	have	have	AUX
ajeer-220	100	10	acquired	acquire	VERB
ajeer-220	100	11	manufacturing	manufacturing	NOUN
ajeer-220	100	12	companies	company	NOUN
ajeer-220	100	13	in	in	ADP
ajeer-220	100	14	europe	europe	PROPN
ajeer-220	100	15	,	,	PUNCT
ajeer-220	100	16	canada	canada	PROPN
ajeer-220	100	17	and	and	CCONJ
ajeer-220	100	18	american	american	PROPN
ajeer-220	100	19	,	,	PUNCT
ajeer-220	100	20	however	however	ADV
ajeer-220	100	21	,	,	PUNCT
ajeer-220	100	22	in	in	ADP
ajeer-220	100	23	the	the	DET
ajeer-220	100	24	asia	asia	PROPN
ajeer-220	100	25	-	-	PUNCT
ajeer-220	100	26	pacific	pacific	PROPN
ajeer-220	100	27	region	region	NOUN
ajeer-220	100	28	the	the	DET
ajeer-220	100	29	uk	uk	PROPN
ajeer-220	100	30	companies	company	NOUN
ajeer-220	100	31	concentrated	concentrate	VERB
ajeer-220	100	32	on	on	ADP
ajeer-220	100	33	the	the	DET
ajeer-220	100	34	acquisition	acquisition	NOUN
ajeer-220	100	35	of	of	ADP
ajeer-220	100	36	service	service	NOUN
ajeer-220	100	37	sector	sector	NOUN
ajeer-220	100	38	companies	company	NOUN
ajeer-220	100	39	.	.	PUNCT
ajeer-220	101	1	this	this	PRON
ajeer-220	101	2	shows	show	VERB
ajeer-220	101	3	that	that	SCONJ
ajeer-220	101	4	expansion	expansion	NOUN
ajeer-220	101	5	through	through	ADP
ajeer-220	101	6	cross	cross	NOUN
ajeer-220	101	7	border	border	NOUN
ajeer-220	101	8	merger	merger	NOUN
ajeer-220	101	9	and	and	CCONJ
ajeer-220	101	10	acquisition	acquisition	NOUN
ajeer-220	101	11	(	(	PUNCT
ajeer-220	101	12	cbma	cbma	PROPN
ajeer-220	101	13	)	)	PUNCT
ajeer-220	101	14	is	be	AUX
ajeer-220	101	15	much	much	ADV
ajeer-220	101	16	more	more	ADV
ajeer-220	101	17	common	common	ADJ
ajeer-220	101	18	for	for	ADP
ajeer-220	101	19	uk	uk	PROPN
ajeer-220	101	20	companies	company	NOUN
ajeer-220	101	21	across	across	ADP
ajeer-220	101	22	the	the	DET
ajeer-220	101	23	world	world	NOUN
ajeer-220	101	24	.	.	PUNCT
ajeer-220	102	1	the	the	DET
ajeer-220	102	2	uk	uk	PROPN
ajeer-220	102	3	economy	economy	NOUN
ajeer-220	102	4	in	in	ADP
ajeer-220	102	5	particular	particular	ADJ
ajeer-220	102	6	shows	show	VERB
ajeer-220	102	7	strong	strong	ADJ
ajeer-220	102	8	economic	economic	ADJ
ajeer-220	102	9	recovery	recovery	NOUN
ajeer-220	102	10	indicators	indicator	NOUN
ajeer-220	102	11	since	since	SCONJ
ajeer-220	102	12	the	the	DET
ajeer-220	102	13	financial	financial	ADJ
ajeer-220	102	14	crash	crash	NOUN
ajeer-220	102	15	in	in	ADP
ajeer-220	102	16	2007/08	2007/08	NUM
ajeer-220	102	17	therefore	therefore	ADV
ajeer-220	102	18	companies	company	NOUN
ajeer-220	102	19	position	position	VERB
ajeer-220	102	20	themselves	themselves	PRON
ajeer-220	102	21	for	for	ADP
ajeer-220	102	22	growth	growth	NOUN
ajeer-220	102	23	mainly	mainly	ADV
ajeer-220	102	24	through	through	ADP
ajeer-220	102	25	mergers	merger	NOUN
ajeer-220	102	26	and	and	CCONJ
ajeer-220	102	27	acquisition	acquisition	NOUN
ajeer-220	102	28	.	.	PUNCT
ajeer-220	103	1	in	in	ADP
ajeer-220	103	2	the	the	DET
ajeer-220	103	3	second	second	ADJ
ajeer-220	103	4	quarter	quarter	NOUN
ajeer-220	103	5	of	of	ADP
ajeer-220	103	6	2014	2014	NUM
ajeer-220	103	7	£	£	SYM
ajeer-220	103	8	37.5	37.5	NUM
ajeer-220	103	9	billion	billion	NUM
ajeer-220	103	10	worth	worth	NOUN
ajeer-220	103	11	of	of	ADP
ajeer-220	103	12	m&a	m&a	PROPN
ajeer-220	103	13	deals	deal	NOUN
ajeer-220	103	14	were	be	AUX
ajeer-220	103	15	struck	strike	VERB
ajeer-220	103	16	which	which	PRON
ajeer-220	103	17	is	be	AUX
ajeer-220	103	18	by	by	ADP
ajeer-220	103	19	far	far	ADV
ajeer-220	103	20	the	the	DET
ajeer-220	103	21	largest	large	ADJ
ajeer-220	103	22	development	development	NOUN
ajeer-220	103	23	since	since	SCONJ
ajeer-220	103	24	2007	2007	NUM
ajeer-220	103	25	witnessed	witness	VERB
ajeer-220	103	26	by	by	ADP
ajeer-220	103	27	asian	asian	ADJ
ajeer-220	103	28	journal	journal	PROPN
ajeer-220	103	29	of	of	ADP
ajeer-220	103	30	economics	economic	NOUN
ajeer-220	103	31	and	and	CCONJ
ajeer-220	103	32	empirical	empirical	ADJ
ajeer-220	103	33	research	research	NOUN
ajeer-220	103	34	,	,	PUNCT
ajeer-220	103	35	2016	2016	NUM
ajeer-220	103	36	,	,	PUNCT
ajeer-220	103	37	3(2):130	3(2):130	NUM
ajeer-220	103	38	-	-	SYM
ajeer-220	103	39	138	138	NUM
ajeer-220	103	40	133	133	NUM
ajeer-220	103	41	the	the	DET
ajeer-220	103	42	uk	uk	PROPN
ajeer-220	103	43	’s	’s	PART
ajeer-220	103	44	market	market	NOUN
ajeer-220	103	45	.	.	PUNCT
ajeer-220	104	1	the	the	DET
ajeer-220	104	2	uk	uk	PROPN
ajeer-220	104	3	’s	’s	PART
ajeer-220	104	4	healthcare	healthcare	NOUN
ajeer-220	104	5	sector	sector	NOUN
ajeer-220	104	6	witnessed	witness	VERB
ajeer-220	104	7	the	the	DET
ajeer-220	104	8	largest	large	ADJ
ajeer-220	104	9	m&a	m&a	NOUN
ajeer-220	104	10	activities	activity	NOUN
ajeer-220	104	11	accounted	account	VERB
ajeer-220	104	12	for	for	ADP
ajeer-220	104	13	26.9	26.9	NUM
ajeer-220	104	14	percent	percent	NOUN
ajeer-220	104	15	of	of	ADP
ajeer-220	104	16	the	the	DET
ajeer-220	104	17	preceding	precede	VERB
ajeer-220	104	18	figure	figure	NOUN
ajeer-220	104	19	where	where	SCONJ
ajeer-220	104	20	the	the	DET
ajeer-220	104	21	sale	sale	NOUN
ajeer-220	104	22	of	of	ADP
ajeer-220	104	23	glaxosmithkline	glaxosmithkline	PROPN
ajeer-220	104	24	’s	’s	PART
ajeer-220	104	25	oncology	oncology	NOUN
ajeer-220	104	26	division	division	NOUN
ajeer-220	104	27	to	to	ADP
ajeer-220	104	28	novartis	novartis	NOUN
ajeer-220	104	29	for	for	ADP
ajeer-220	104	30	£	£	SYM
ajeer-220	104	31	8.6	8.6	NUM
ajeer-220	104	32	billion	billion	NUM
ajeer-220	104	33	was	be	AUX
ajeer-220	104	34	one	one	NUM
ajeer-220	104	35	of	of	ADP
ajeer-220	104	36	the	the	DET
ajeer-220	104	37	mega	mega	ADJ
ajeer-220	104	38	mergers	merger	NOUN
ajeer-220	104	39	(	(	PUNCT
ajeer-220	104	40	raconteur	raconteur	PROPN
ajeer-220	104	41	,	,	PUNCT
ajeer-220	104	42	2014	2014	NUM
ajeer-220	104	43	)	)	PUNCT
ajeer-220	104	44	.	.	PUNCT
ajeer-220	105	1	according	accord	VERB
ajeer-220	105	2	to	to	ADP
ajeer-220	105	3	market	market	NOUN
ajeer-220	105	4	analysts	analyst	NOUN
ajeer-220	105	5	cited	cite	VERB
ajeer-220	105	6	by	by	ADP
ajeer-220	105	7	raconteur	raconteur	PROPN
ajeer-220	105	8	(	(	PUNCT
ajeer-220	105	9	2014	2014	NUM
ajeer-220	105	10	)	)	PUNCT
ajeer-220	105	11	surge	surge	NOUN
ajeer-220	105	12	in	in	ADP
ajeer-220	105	13	mergers	merger	NOUN
ajeer-220	105	14	and	and	CCONJ
ajeer-220	105	15	acquisition	acquisition	NOUN
ajeer-220	105	16	in	in	ADP
ajeer-220	105	17	the	the	DET
ajeer-220	105	18	uk	uk	PROPN
ajeer-220	105	19	’s	’s	PART
ajeer-220	105	20	market	market	NOUN
ajeer-220	105	21	is	be	AUX
ajeer-220	105	22	contributable	contributable	ADJ
ajeer-220	105	23	to	to	ADP
ajeer-220	105	24	several	several	ADJ
ajeer-220	105	25	factors	factor	NOUN
ajeer-220	105	26	however	however	ADV
ajeer-220	105	27	strong	strong	ADJ
ajeer-220	105	28	economic	economic	ADJ
ajeer-220	105	29	growth	growth	NOUN
ajeer-220	105	30	in	in	ADP
ajeer-220	105	31	particular	particular	ADJ
ajeer-220	105	32	has	have	AUX
ajeer-220	105	33	played	play	VERB
ajeer-220	105	34	a	a	DET
ajeer-220	105	35	greater	great	ADJ
ajeer-220	105	36	role	role	NOUN
ajeer-220	105	37	as	as	SCONJ
ajeer-220	105	38	the	the	DET
ajeer-220	105	39	uk	uk	PROPN
ajeer-220	105	40	’s	’s	PART
ajeer-220	105	41	gdp	gdp	NOUN
ajeer-220	105	42	has	have	AUX
ajeer-220	105	43	witnessed	witness	VERB
ajeer-220	105	44	a	a	DET
ajeer-220	105	45	3	3	NUM
ajeer-220	105	46	percent	percent	NOUN
ajeer-220	105	47	growth	growth	NOUN
ajeer-220	105	48	in	in	ADP
ajeer-220	105	49	the	the	DET
ajeer-220	105	50	third	third	ADJ
ajeer-220	105	51	quarter	quarter	NOUN
ajeer-220	105	52	of	of	ADP
ajeer-220	105	53	2014	2014	NUM
ajeer-220	105	54	as	as	ADP
ajeer-220	105	55	compared	compare	VERB
ajeer-220	105	56	to	to	ADP
ajeer-220	105	57	previous	previous	ADJ
ajeer-220	105	58	year	year	NOUN
ajeer-220	105	59	while	while	SCONJ
ajeer-220	105	60	the	the	DET
ajeer-220	105	61	grim	grim	ADJ
ajeer-220	105	62	economic	economic	ADJ
ajeer-220	105	63	indicators	indicator	NOUN
ajeer-220	105	64	in	in	ADP
ajeer-220	105	65	the	the	DET
ajeer-220	105	66	euro	euro	NOUN
ajeer-220	105	67	zone	zone	NOUN
ajeer-220	105	68	,	,	PUNCT
ajeer-220	105	69	as	as	ADP
ajeer-220	105	70	a	a	DET
ajeer-220	105	71	result	result	NOUN
ajeer-220	105	72	of	of	ADP
ajeer-220	105	73	potential	potential	ADJ
ajeer-220	105	74	euro	euro	NOUN
ajeer-220	105	75	zone	zone	NOUN
ajeer-220	105	76	breakup	breakup	NOUN
ajeer-220	105	77	,	,	PUNCT
ajeer-220	105	78	has	have	AUX
ajeer-220	105	79	started	start	VERB
ajeer-220	105	80	to	to	PART
ajeer-220	105	81	subside	subside	VERB
ajeer-220	105	82	that	that	PRON
ajeer-220	105	83	has	have	AUX
ajeer-220	105	84	considerably	considerably	ADV
ajeer-220	105	85	helped	help	VERB
ajeer-220	105	86	the	the	DET
ajeer-220	105	87	market	market	NOUN
ajeer-220	105	88	to	to	PART
ajeer-220	105	89	recover	recover	VERB
ajeer-220	105	90	.	.	PUNCT
ajeer-220	106	1	ian	ian	ADJ
ajeer-220	106	2	sale	sale	NOUN
ajeer-220	106	3	,	,	PUNCT
ajeer-220	106	4	a	a	DET
ajeer-220	106	5	managing	manage	VERB
ajeer-220	106	6	director	director	NOUN
ajeer-220	106	7	at	at	ADP
ajeer-220	106	8	lloyds	lloyds	PROPN
ajeer-220	106	9	bank	bank	PROPN
ajeer-220	106	10	commercial	commercial	PROPN
ajeer-220	106	11	banking	banking	PROPN
ajeer-220	106	12	acquisition	acquisition	NOUN
ajeer-220	106	13	’s	’s	PART
ajeer-220	106	14	finance	finance	NOUN
ajeer-220	106	15	,	,	PUNCT
ajeer-220	106	16	says	say	VERB
ajeer-220	106	17	:	:	PUNCT
ajeer-220	106	18	″we	″we	ADV
ajeer-220	106	19	have	have	AUX
ajeer-220	106	20	seen	see	VERB
ajeer-220	106	21	demand	demand	NOUN
ajeer-220	106	22	and	and	CCONJ
ajeer-220	106	23	supply	supply	NOUN
ajeer-220	106	24	conditions	condition	NOUN
ajeer-220	106	25	for	for	ADP
ajeer-220	106	26	m&a	m&a	PROPN
ajeer-220	106	27	improved	improve	VERB
ajeer-220	106	28	markedly	markedly	ADV
ajeer-220	106	29	over	over	ADP
ajeer-220	106	30	the	the	DET
ajeer-220	106	31	past	past	ADJ
ajeer-220	106	32	year	year	NOUN
ajeer-220	106	33	.	.	PUNCT
ajeer-220	107	1	investors	investor	NOUN
ajeer-220	107	2	looking	look	VERB
ajeer-220	107	3	for	for	ADP
ajeer-220	107	4	yield	yield	NOUN
ajeer-220	107	5	,	,	PUNCT
ajeer-220	107	6	cash	cash	NOUN
ajeer-220	107	7	-	-	PUNCT
ajeer-220	107	8	rich	rich	ADJ
ajeer-220	107	9	trade	trade	NOUN
ajeer-220	107	10	buyers	buyer	NOUN
ajeer-220	107	11	,	,	PUNCT
ajeer-220	107	12	a	a	DET
ajeer-220	107	13	hungry	hungry	ADJ
ajeer-220	107	14	banking	banking	NOUN
ajeer-220	107	15	sector	sector	NOUN
ajeer-220	107	16	and	and	CCONJ
ajeer-220	107	17	private	private	ADJ
ajeer-220	107	18	equity	equity	NOUN
ajeer-220	107	19	houses	house	NOUN
ajeer-220	107	20	with	with	ADP
ajeer-220	107	21	funds	fund	NOUN
ajeer-220	107	22	to	to	PART
ajeer-220	107	23	deploy	deploy	VERB
ajeer-220	107	24	have	have	AUX
ajeer-220	107	25	all	all	PRON
ajeer-220	107	26	contributed	contribute	VERB
ajeer-220	107	27	to	to	ADP
ajeer-220	107	28	a	a	DET
ajeer-220	107	29	highly	highly	ADV
ajeer-220	107	30	liquid	liquid	ADJ
ajeer-220	107	31	market.″	market.″	NOUN
ajeer-220	107	32	(	(	PUNCT
ajeer-220	107	33	raconteur	raconteur	PROPN
ajeer-220	107	34	,	,	PUNCT
ajeer-220	107	35	2014	2014	NUM
ajeer-220	107	36	)	)	PUNCT
ajeer-220	107	37	.	.	PUNCT
ajeer-220	108	1	nevertheless	nevertheless	ADV
ajeer-220	108	2	,	,	PUNCT
ajeer-220	108	3	value	value	NOUN
ajeer-220	108	4	creation	creation	NOUN
ajeer-220	108	5	as	as	ADP
ajeer-220	108	6	a	a	DET
ajeer-220	108	7	result	result	NOUN
ajeer-220	108	8	of	of	ADP
ajeer-220	108	9	mergers	merger	NOUN
ajeer-220	108	10	and	and	CCONJ
ajeer-220	108	11	acquisition	acquisition	NOUN
ajeer-220	108	12	still	still	ADV
ajeer-220	108	13	remains	remain	VERB
ajeer-220	108	14	an	an	DET
ajeer-220	108	15	intriguing	intriguing	ADJ
ajeer-220	108	16	area	area	NOUN
ajeer-220	108	17	as	as	ADP
ajeer-220	108	18	several	several	ADJ
ajeer-220	108	19	research	research	NOUN
ajeer-220	108	20	findings	finding	NOUN
ajeer-220	108	21	such	such	ADJ
ajeer-220	108	22	as	as	ADP
ajeer-220	108	23	chanmugam	chanmugam	NOUN
ajeer-220	108	24	et	et	PROPN
ajeer-220	108	25	al	al	PROPN
ajeer-220	108	26	.	.	PUNCT
ajeer-220	109	1	(	(	PUNCT
ajeer-220	109	2	2005	2005	NUM
ajeer-220	109	3	)	)	PUNCT
ajeer-220	109	4	;	;	PUNCT
ajeer-220	110	1	kursten	kursten	X
ajeer-220	110	2	(	(	PUNCT
ajeer-220	110	3	2008	2008	NUM
ajeer-220	110	4	)	)	PUNCT
ajeer-220	110	5	;	;	PUNCT
ajeer-220	110	6	macdonald	macdonald	PROPN
ajeer-220	110	7	(	(	PUNCT
ajeer-220	110	8	2005	2005	NUM
ajeer-220	110	9	)	)	PUNCT
ajeer-220	110	10	support	support	VERB
ajeer-220	110	11	the	the	DET
ajeer-220	110	12	idea	idea	NOUN
ajeer-220	110	13	that	that	SCONJ
ajeer-220	110	14	most	most	ADJ
ajeer-220	110	15	of	of	ADP
ajeer-220	110	16	m&a	m&a	PROPN
ajeer-220	110	17	deals	deal	NOUN
ajeer-220	110	18	benefit	benefit	VERB
ajeer-220	110	19	executives	executive	NOUN
ajeer-220	110	20	rather	rather	ADV
ajeer-220	110	21	than	than	ADP
ajeer-220	110	22	shareholders	shareholder	NOUN
ajeer-220	110	23	.	.	PUNCT
ajeer-220	111	1	however	however	ADV
ajeer-220	111	2	,	,	PUNCT
ajeer-220	111	3	yet	yet	CCONJ
ajeer-220	111	4	substantial	substantial	ADJ
ajeer-220	111	5	research	research	NOUN
ajeer-220	111	6	findings	finding	NOUN
ajeer-220	111	7	support	support	VERB
ajeer-220	111	8	the	the	DET
ajeer-220	111	9	idea	idea	NOUN
ajeer-220	111	10	of	of	ADP
ajeer-220	111	11	value	value	NOUN
ajeer-220	111	12	creation	creation	NOUN
ajeer-220	111	13	for	for	ADP
ajeer-220	111	14	shareholders	shareholder	NOUN
ajeer-220	111	15	as	as	ADP
ajeer-220	111	16	a	a	DET
ajeer-220	111	17	result	result	NOUN
ajeer-220	111	18	of	of	ADP
ajeer-220	111	19	mergers	merger	NOUN
ajeer-220	111	20	and	and	CCONJ
ajeer-220	111	21	acquisition	acquisition	NOUN
ajeer-220	111	22	.	.	PUNCT
ajeer-220	112	1	as	as	SCONJ
ajeer-220	112	2	argued	argue	VERB
ajeer-220	112	3	by	by	ADP
ajeer-220	112	4	boyer	boyer	PROPN
ajeer-220	112	5	and	and	CCONJ
ajeer-220	112	6	choi	choi	PROPN
ajeer-220	112	7	(	(	PUNCT
ajeer-220	112	8	2007	2007	NUM
ajeer-220	112	9	)	)	PUNCT
ajeer-220	112	10	who	who	PRON
ajeer-220	112	11	by	by	ADP
ajeer-220	112	12	investigating	investigate	VERB
ajeer-220	112	13	the	the	DET
ajeer-220	112	14	reasons	reason	NOUN
ajeer-220	112	15	that	that	PRON
ajeer-220	112	16	contribute	contribute	VERB
ajeer-220	112	17	to	to	ADP
ajeer-220	112	18	the	the	DET
ajeer-220	112	19	consolidation	consolidation	NOUN
ajeer-220	112	20	of	of	ADP
ajeer-220	112	21	financial	financial	ADJ
ajeer-220	112	22	services	service	NOUN
ajeer-220	112	23	industry	industry	NOUN
ajeer-220	112	24	and	and	CCONJ
ajeer-220	112	25	also	also	ADV
ajeer-220	112	26	examine	examine	VERB
ajeer-220	112	27	some	some	DET
ajeer-220	112	28	cases	case	NOUN
ajeer-220	112	29	of	of	ADP
ajeer-220	112	30	successful	successful	ADJ
ajeer-220	112	31	and	and	CCONJ
ajeer-220	112	32	unsuccessful	unsuccessful	ADJ
ajeer-220	112	33	m&as	m&as	NOUN
ajeer-220	112	34	,	,	PUNCT
ajeer-220	112	35	argues	argue	VERB
ajeer-220	112	36	that	that	SCONJ
ajeer-220	112	37	synergy	synergy	NOUN
ajeer-220	112	38	or	or	CCONJ
ajeer-220	112	39	value	value	VERB
ajeer-220	112	40	creation	creation	NOUN
ajeer-220	112	41	for	for	ADP
ajeer-220	112	42	shareholders	shareholder	NOUN
ajeer-220	112	43	is	be	AUX
ajeer-220	112	44	an	an	DET
ajeer-220	112	45	inevitable	inevitable	ADJ
ajeer-220	112	46	result	result	NOUN
ajeer-220	112	47	of	of	ADP
ajeer-220	112	48	mergers	merger	NOUN
ajeer-220	112	49	and	and	CCONJ
ajeer-220	112	50	acquisition	acquisition	NOUN
ajeer-220	112	51	subject	subject	NOUN
ajeer-220	112	52	to	to	ADP
ajeer-220	112	53	the	the	DET
ajeer-220	112	54	successful	successful	ADJ
ajeer-220	112	55	implementation	implementation	NOUN
ajeer-220	112	56	of	of	ADP
ajeer-220	112	57	integration	integration	NOUN
ajeer-220	112	58	,	,	PUNCT
ajeer-220	112	59	adequate	adequate	ADJ
ajeer-220	112	60	valuation	valuation	NOUN
ajeer-220	112	61	and	and	CCONJ
ajeer-220	112	62	limited	limited	ADJ
ajeer-220	112	63	diversification	diversification	NOUN
ajeer-220	112	64	.	.	PUNCT
ajeer-220	113	1	similarly	similarly	ADV
ajeer-220	113	2	,	,	PUNCT
ajeer-220	113	3	kursten	kursten	X
ajeer-220	113	4	(	(	PUNCT
ajeer-220	113	5	2008	2008	NUM
ajeer-220	113	6	)	)	PUNCT
ajeer-220	113	7	while	while	SCONJ
ajeer-220	113	8	investigating	investigate	VERB
ajeer-220	113	9	why	why	SCONJ
ajeer-220	113	10	shareholders	shareholder	NOUN
ajeer-220	113	11	should	should	AUX
ajeer-220	113	12	be	be	AUX
ajeer-220	113	13	prudent	prudent	ADJ
ajeer-220	113	14	when	when	SCONJ
ajeer-220	113	15	managers	manager	NOUN
ajeer-220	113	16	assure	assure	VERB
ajeer-220	113	17	value	value	NOUN
ajeer-220	113	18	gains	gain	NOUN
ajeer-220	113	19	from	from	ADP
ajeer-220	113	20	a	a	DET
ajeer-220	113	21	potential	potential	ADJ
ajeer-220	113	22	synergetic	synergetic	ADJ
ajeer-220	113	23	mergers	merger	NOUN
ajeer-220	113	24	,	,	PUNCT
ajeer-220	113	25	argue	argue	VERB
ajeer-220	113	26	that	that	SCONJ
ajeer-220	113	27	even	even	ADV
ajeer-220	113	28	synergetic	synergetic	ADJ
ajeer-220	113	29	merger	merger	NOUN
ajeer-220	113	30	can	can	AUX
ajeer-220	113	31	not	not	PART
ajeer-220	113	32	guarantee	guarantee	VERB
ajeer-220	113	33	any	any	DET
ajeer-220	113	34	benefits	benefit	NOUN
ajeer-220	113	35	to	to	ADP
ajeer-220	113	36	shareholders	shareholder	NOUN
ajeer-220	113	37	unless	unless	SCONJ
ajeer-220	113	38	the	the	DET
ajeer-220	113	39	value	value	NOUN
ajeer-220	113	40	of	of	ADP
ajeer-220	113	41	the	the	DET
ajeer-220	113	42	synergy	synergy	NOUN
ajeer-220	113	43	exceed	exceed	VERB
ajeer-220	113	44	certain	certain	ADJ
ajeer-220	113	45	level	level	NOUN
ajeer-220	113	46	,	,	PUNCT
ajeer-220	113	47	thus	thus	ADV
ajeer-220	113	48	he	he	PRON
ajeer-220	113	49	rules	rule	VERB
ajeer-220	113	50	out	out	ADP
ajeer-220	113	51	the	the	DET
ajeer-220	113	52	idea	idea	NOUN
ajeer-220	113	53	of	of	ADP
ajeer-220	113	54	shortterm	shortterm	PROPN
ajeer-220	113	55	gain	gain	NOUN
ajeer-220	113	56	for	for	ADP
ajeer-220	113	57	shareholders	shareholder	NOUN
ajeer-220	113	58	however	however	ADV
ajeer-220	113	59	he	he	PRON
ajeer-220	113	60	argues	argue	VERB
ajeer-220	113	61	that	that	SCONJ
ajeer-220	113	62	in	in	ADP
ajeer-220	113	63	the	the	DET
ajeer-220	113	64	longer	long	ADJ
ajeer-220	113	65	run	run	NOUN
ajeer-220	113	66	shareholders	shareholder	NOUN
ajeer-220	113	67	can	can	AUX
ajeer-220	113	68	benefit	benefit	VERB
ajeer-220	113	69	from	from	ADP
ajeer-220	113	70	synergetic	synergetic	ADJ
ajeer-220	113	71	m&a	m&a	PROPN
ajeer-220	113	72	.	.	PUNCT
ajeer-220	114	1	that	that	PRON
ajeer-220	114	2	is	be	AUX
ajeer-220	114	3	why	why	SCONJ
ajeer-220	114	4	macdonald	macdonald	PROPN
ajeer-220	114	5	(	(	PUNCT
ajeer-220	114	6	2005	2005	NUM
ajeer-220	114	7	)	)	PUNCT
ajeer-220	114	8	while	while	SCONJ
ajeer-220	114	9	elaborating	elaborate	VERB
ajeer-220	114	10	his	his	PRON
ajeer-220	114	11	viewpoint	viewpoint	NOUN
ajeer-220	114	12	on	on	ADP
ajeer-220	114	13	shareholders	shareholder	NOUN
ajeer-220	114	14	’	'	PUNCT
ajeer-220	114	15	value	value	NOUN
ajeer-220	114	16	creation	creation	NOUN
ajeer-220	114	17	,	,	PUNCT
ajeer-220	114	18	argues	argue	VERB
ajeer-220	114	19	citing	cite	VERB
ajeer-220	114	20	businessweek	businessweek	NOUN
ajeer-220	114	21	findings	finding	NOUN
ajeer-220	114	22	that	that	SCONJ
ajeer-220	114	23	during	during	ADP
ajeer-220	114	24	1995	1995	NUM
ajeer-220	114	25	to	to	ADP
ajeer-220	114	26	2000	2000	NUM
ajeer-220	114	27	majority	majority	NOUN
ajeer-220	114	28	of	of	ADP
ajeer-220	114	29	the	the	DET
ajeer-220	114	30	mergers	merger	NOUN
ajeer-220	114	31	were	be	AUX
ajeer-220	114	32	failure	failure	NOUN
ajeer-220	114	33	from	from	ADP
ajeer-220	114	34	shareholders	shareholder	NOUN
ajeer-220	114	35	point	point	NOUN
ajeer-220	114	36	of	of	ADP
ajeer-220	114	37	view	view	NOUN
ajeer-220	114	38	when	when	SCONJ
ajeer-220	114	39	measured	measure	VERB
ajeer-220	114	40	against	against	ADP
ajeer-220	114	41	the	the	DET
ajeer-220	114	42	price	price	NOUN
ajeer-220	114	43	of	of	ADP
ajeer-220	114	44	the	the	DET
ajeer-220	114	45	stock	stock	NOUN
ajeer-220	114	46	.	.	PUNCT
ajeer-220	115	1	the	the	DET
ajeer-220	115	2	study	study	NOUN
ajeer-220	115	3	further	further	ADJ
ajeer-220	115	4	complements	complement	NOUN
ajeer-220	115	5	that	that	PRON
ajeer-220	115	6	often	often	ADV
ajeer-220	115	7	the	the	DET
ajeer-220	115	8	mergers	merger	NOUN
ajeer-220	115	9	deals	deal	NOUN
ajeer-220	115	10	were	be	AUX
ajeer-220	115	11	overvalued	overvalue	VERB
ajeer-220	115	12	resulting	result	VERB
ajeer-220	115	13	in	in	ADP
ajeer-220	115	14	compromising	compromise	VERB
ajeer-220	115	15	shareholders	shareholder	NOUN
ajeer-220	115	16	’	'	PUNCT
ajeer-220	115	17	value	value	NOUN
ajeer-220	115	18	creation	creation	NOUN
ajeer-220	115	19	.	.	PUNCT
ajeer-220	116	1	another	another	DET
ajeer-220	116	2	study	study	NOUN
ajeer-220	116	3	conducted	conduct	VERB
ajeer-220	116	4	by	by	ADP
ajeer-220	116	5	hassan	hassan	PROPN
ajeer-220	116	6	et	et	PROPN
ajeer-220	116	7	al	al	PROPN
ajeer-220	116	8	.	.	PROPN
ajeer-220	116	9	(	(	PUNCT
ajeer-220	116	10	2004	2004	NUM
ajeer-220	116	11	)	)	PUNCT
ajeer-220	116	12	in	in	ADP
ajeer-220	116	13	the	the	DET
ajeer-220	116	14	context	context	NOUN
ajeer-220	116	15	of	of	ADP
ajeer-220	116	16	us	us	PROPN
ajeer-220	116	17	pharmaceutical	pharmaceutical	NOUN
ajeer-220	116	18	industry	industry	NOUN
ajeer-220	116	19	which	which	PRON
ajeer-220	116	20	investigates	investigate	VERB
ajeer-220	116	21	short	short	ADJ
ajeer-220	116	22	term	term	NOUN
ajeer-220	116	23	abnormal	abnormal	ADJ
ajeer-220	116	24	returns	return	NOUN
ajeer-220	116	25	of	of	ADP
ajeer-220	116	26	405	405	NUM
ajeer-220	116	27	m&a	m&a	NOUN
ajeer-220	116	28	during	during	ADP
ajeer-220	116	29	1981	1981	NUM
ajeer-220	116	30	to	to	ADP
ajeer-220	116	31	2004	2004	NUM
ajeer-220	116	32	finds	find	VERB
ajeer-220	116	33	that	that	SCONJ
ajeer-220	116	34	abnormal	abnormal	ADJ
ajeer-220	116	35	short	short	ADJ
ajeer-220	116	36	term	term	NOUN
ajeer-220	116	37	gains	gain	NOUN
ajeer-220	116	38	were	be	AUX
ajeer-220	116	39	witnessed	witness	VERB
ajeer-220	116	40	in	in	ADP
ajeer-220	116	41	the	the	DET
ajeer-220	116	42	case	case	NOUN
ajeer-220	116	43	of	of	ADP
ajeer-220	116	44	acquiring	acquire	VERB
ajeer-220	116	45	companies	company	NOUN
ajeer-220	116	46	but	but	CCONJ
ajeer-220	116	47	overall	overall	ADV
ajeer-220	116	48	,	,	PUNCT
ajeer-220	116	49	except	except	SCONJ
ajeer-220	116	50	roa	roa	NOUN
ajeer-220	116	51	and	and	CCONJ
ajeer-220	116	52	cash	cash	NOUN
ajeer-220	116	53	flow	flow	NOUN
ajeer-220	116	54	improvements	improvement	NOUN
ajeer-220	116	55	in	in	ADP
ajeer-220	116	56	some	some	DET
ajeer-220	116	57	instances	instance	NOUN
ajeer-220	116	58	,	,	PUNCT
ajeer-220	116	59	most	most	ADJ
ajeer-220	116	60	of	of	ADP
ajeer-220	116	61	the	the	DET
ajeer-220	116	62	measures	measure	NOUN
ajeer-220	116	63	were	be	AUX
ajeer-220	116	64	found	find	VERB
ajeer-220	116	65	to	to	PART
ajeer-220	116	66	be	be	AUX
ajeer-220	116	67	insignificant	insignificant	ADJ
ajeer-220	116	68	statistically	statistically	ADV
ajeer-220	116	69	.	.	PUNCT
ajeer-220	117	1	this	this	PRON
ajeer-220	117	2	can	can	AUX
ajeer-220	117	3	be	be	AUX
ajeer-220	117	4	argued	argue	VERB
ajeer-220	117	5	that	that	SCONJ
ajeer-220	117	6	although	although	SCONJ
ajeer-220	117	7	pharmaceutical	pharmaceutical	ADJ
ajeer-220	117	8	companies	company	NOUN
ajeer-220	117	9	carry	carry	VERB
ajeer-220	117	10	out	out	ADP
ajeer-220	117	11	high	high	ADJ
ajeer-220	117	12	volume	volume	NOUN
ajeer-220	117	13	of	of	ADP
ajeer-220	117	14	transactions	transaction	NOUN
ajeer-220	117	15	to	to	PART
ajeer-220	117	16	forge	forge	VERB
ajeer-220	117	17	m&a	m&a	PROPN
ajeer-220	117	18	deals	deal	NOUN
ajeer-220	117	19	mostly	mostly	ADV
ajeer-220	117	20	often	often	ADV
ajeer-220	117	21	in	in	ADP
ajeer-220	117	22	billions	billion	NOUN
ajeer-220	117	23	dollars	dollar	NOUN
ajeer-220	117	24	however	however	ADV
ajeer-220	117	25	still	still	ADV
ajeer-220	117	26	do	do	AUX
ajeer-220	117	27	not	not	PART
ajeer-220	117	28	result	result	VERB
ajeer-220	117	29	in	in	ADP
ajeer-220	117	30	short	short	ADJ
ajeer-220	117	31	term	term	NOUN
ajeer-220	117	32	gains	gain	NOUN
ajeer-220	117	33	which	which	PRON
ajeer-220	117	34	cast	cast	VERB
ajeer-220	117	35	some	some	DET
ajeer-220	117	36	doubt	doubt	NOUN
ajeer-220	117	37	on	on	ADP
ajeer-220	117	38	the	the	DET
ajeer-220	117	39	efficacy	efficacy	NOUN
ajeer-220	117	40	of	of	ADP
ajeer-220	117	41	the	the	DET
ajeer-220	117	42	mergers	merger	NOUN
ajeer-220	117	43	of	of	ADP
ajeer-220	117	44	large	large	ADJ
ajeer-220	117	45	firms	firm	NOUN
ajeer-220	117	46	.	.	PUNCT
ajeer-220	118	1	nevertheless	nevertheless	ADV
ajeer-220	118	2	,	,	PUNCT
ajeer-220	118	3	there	there	PRON
ajeer-220	118	4	are	be	VERB
ajeer-220	118	5	instances	instance	NOUN
ajeer-220	118	6	where	where	SCONJ
ajeer-220	118	7	large	large	ADJ
ajeer-220	118	8	companies	company	NOUN
ajeer-220	118	9	m&a	m&a	PROPN
ajeer-220	118	10	deals	deal	NOUN
ajeer-220	118	11	have	have	AUX
ajeer-220	118	12	become	become	VERB
ajeer-220	118	13	success	success	NOUN
ajeer-220	118	14	stories	story	NOUN
ajeer-220	118	15	as	as	ADP
ajeer-220	118	16	evident	evident	ADJ
ajeer-220	118	17	from	from	ADP
ajeer-220	118	18	numbers	number	NOUN
ajeer-220	118	19	of	of	ADP
ajeer-220	118	20	research	research	NOUN
ajeer-220	118	21	findings	finding	NOUN
ajeer-220	118	22	.	.	PUNCT
ajeer-220	119	1	as	as	ADP
ajeer-220	119	2	evident	evident	ADJ
ajeer-220	119	3	by	by	ADP
ajeer-220	119	4	the	the	DET
ajeer-220	119	5	findings	finding	NOUN
ajeer-220	119	6	of	of	ADP
ajeer-220	119	7	du	du	PROPN
ajeer-220	119	8	and	and	CCONJ
ajeer-220	119	9	boateng	boateng	PROPN
ajeer-220	119	10	(	(	PUNCT
ajeer-220	119	11	2014	2014	NUM
ajeer-220	119	12	)	)	PUNCT
ajeer-220	119	13	who	who	PRON
ajeer-220	119	14	by	by	ADP
ajeer-220	119	15	investigating	investigate	VERB
ajeer-220	119	16	the	the	DET
ajeer-220	119	17	effect	effect	NOUN
ajeer-220	119	18	of	of	ADP
ajeer-220	119	19	state	state	NOUN
ajeer-220	119	20	ownership	ownership	NOUN
ajeer-220	119	21	and	and	CCONJ
ajeer-220	119	22	institutional	institutional	ADJ
ajeer-220	119	23	influences	influence	NOUN
ajeer-220	119	24	on	on	ADP
ajeer-220	119	25	value	value	NOUN
ajeer-220	119	26	creation	creation	NOUN
ajeer-220	119	27	through	through	ADP
ajeer-220	119	28	cbma	cbma	PROPN
ajeer-220	119	29	by	by	ADP
ajeer-220	119	30	chinese	chinese	ADJ
ajeer-220	119	31	firms	firm	NOUN
ajeer-220	119	32	using	use	VERB
ajeer-220	119	33	a	a	DET
ajeer-220	119	34	sample	sample	NOUN
ajeer-220	119	35	of	of	ADP
ajeer-220	119	36	468	468	NUM
ajeer-220	119	37	firms	firm	NOUN
ajeer-220	119	38	during	during	ADP
ajeer-220	119	39	1998	1998	NUM
ajeer-220	119	40	to	to	ADP
ajeer-220	119	41	2011	2011	NUM
ajeer-220	119	42	,	,	PUNCT
ajeer-220	119	43	findings	finding	NOUN
ajeer-220	119	44	empirically	empirically	ADV
ajeer-220	119	45	support	support	VERB
ajeer-220	119	46	the	the	DET
ajeer-220	119	47	argument	argument	NOUN
ajeer-220	119	48	that	that	PRON
ajeer-220	119	49	cbma	cbma	PROPN
ajeer-220	119	50	results	result	VERB
ajeer-220	119	51	in	in	ADP
ajeer-220	119	52	short	short	ADJ
ajeer-220	119	53	-	-	PUNCT
ajeer-220	119	54	term	term	NOUN
ajeer-220	119	55	gain	gain	NOUN
ajeer-220	119	56	for	for	ADP
ajeer-220	119	57	shareholders	shareholder	NOUN
ajeer-220	119	58	in	in	ADP
ajeer-220	119	59	the	the	DET
ajeer-220	119	60	context	context	NOUN
ajeer-220	119	61	of	of	ADP
ajeer-220	119	62	chinese	chinese	ADJ
ajeer-220	119	63	acquirer	acquirer	NOUN
ajeer-220	119	64	firms	firm	NOUN
ajeer-220	119	65	that	that	PRON
ajeer-220	119	66	have	have	AUX
ajeer-220	119	67	earned	earn	VERB
ajeer-220	119	68	abnormal	abnormal	ADJ
ajeer-220	119	69	returns	return	NOUN
ajeer-220	119	70	over	over	ADP
ajeer-220	119	71	10	10	NUM
ajeer-220	119	72	days	day	NOUN
ajeer-220	119	73	event	event	NOUN
ajeer-220	119	74	window	window	NOUN
ajeer-220	119	75	and	and	CCONJ
ajeer-220	119	76	founds	found	VERB
ajeer-220	119	77	that	that	SCONJ
ajeer-220	119	78	chinese	chinese	ADJ
ajeer-220	119	79	security	security	NOUN
ajeer-220	119	80	market	market	NOUN
ajeer-220	119	81	reacts	react	VERB
ajeer-220	119	82	positively	positively	ADV
ajeer-220	119	83	to	to	ADP
ajeer-220	119	84	acquisition	acquisition	NOUN
ajeer-220	119	85	announcement	announcement	NOUN
ajeer-220	119	86	.	.	PUNCT
ajeer-220	120	1	moreover	moreover	ADV
ajeer-220	120	2	,	,	PUNCT
ajeer-220	120	3	their	their	PRON
ajeer-220	120	4	findings	finding	NOUN
ajeer-220	120	5	further	far	ADV
ajeer-220	120	6	assert	assert	VERB
ajeer-220	120	7	that	that	SCONJ
ajeer-220	120	8	government	government	NOUN
ajeer-220	120	9	and	and	CCONJ
ajeer-220	120	10	institutions	institution	NOUN
ajeer-220	120	11	play	play	VERB
ajeer-220	120	12	a	a	DET
ajeer-220	120	13	decisive	decisive	ADJ
ajeer-220	120	14	role	role	NOUN
ajeer-220	120	15	in	in	ADP
ajeer-220	120	16	cbm&a	cbm&a	ADJ
ajeer-220	120	17	value	value	NOUN
ajeer-220	120	18	creation	creation	NOUN
ajeer-220	120	19	.	.	PUNCT
ajeer-220	121	1	however	however	ADV
ajeer-220	121	2	,	,	PUNCT
ajeer-220	121	3	value	value	NOUN
ajeer-220	121	4	creation	creation	NOUN
ajeer-220	121	5	can	can	AUX
ajeer-220	121	6	not	not	PART
ajeer-220	121	7	be	be	AUX
ajeer-220	121	8	confined	confine	VERB
ajeer-220	121	9	to	to	ADP
ajeer-220	121	10	government	government	NOUN
ajeer-220	121	11	or	or	CCONJ
ajeer-220	121	12	institutions	institution	NOUN
ajeer-220	121	13	role	role	NOUN
ajeer-220	121	14	but	but	CCONJ
ajeer-220	121	15	rely	rely	VERB
ajeer-220	121	16	on	on	ADP
ajeer-220	121	17	several	several	ADJ
ajeer-220	121	18	variables	variable	NOUN
ajeer-220	121	19	that	that	PRON
ajeer-220	121	20	lead	lead	VERB
ajeer-220	121	21	to	to	PART
ajeer-220	121	22	value	value	VERB
ajeer-220	121	23	creation	creation	NOUN
ajeer-220	121	24	for	for	ADP
ajeer-220	121	25	shareholders	shareholder	NOUN
ajeer-220	121	26	.	.	PUNCT
ajeer-220	122	1	the	the	DET
ajeer-220	122	2	findings	finding	NOUN
ajeer-220	122	3	of	of	ADP
ajeer-220	122	4	dutordoir	dutordoir	PROPN
ajeer-220	122	5	et	et	PROPN
ajeer-220	122	6	al	al	PROPN
ajeer-220	122	7	.	.	PROPN
ajeer-220	122	8	(	(	PUNCT
ajeer-220	122	9	2014	2014	NUM
ajeer-220	122	10	)	)	PUNCT
ajeer-220	122	11	who	who	PRON
ajeer-220	122	12	by	by	ADP
ajeer-220	122	13	investigating	investigate	VERB
ajeer-220	122	14	bidding	bidding	NOUN
ajeer-220	122	15	firms	firm	NOUN
ajeer-220	122	16	’	'	PUNCT
ajeer-220	122	17	motives	motive	NOUN
ajeer-220	122	18	for	for	ADP
ajeer-220	122	19	disclosing	disclose	VERB
ajeer-220	122	20	a	a	DET
ajeer-220	122	21	synergy	synergy	NOUN
ajeer-220	122	22	forecast	forecast	NOUN
ajeer-220	122	23	when	when	SCONJ
ajeer-220	122	24	announcing	announce	VERB
ajeer-220	122	25	a	a	DET
ajeer-220	122	26	merger	merger	NOUN
ajeer-220	122	27	or	or	CCONJ
ajeer-220	122	28	acquisition	acquisition	NOUN
ajeer-220	122	29	,	,	PUNCT
ajeer-220	122	30	best	well	ADV
ajeer-220	122	31	illustrate	illustrate	VERB
ajeer-220	122	32	the	the	DET
ajeer-220	122	33	example	example	NOUN
ajeer-220	122	34	by	by	ADP
ajeer-220	122	35	proving	prove	VERB
ajeer-220	122	36	it	it	PRON
ajeer-220	122	37	empirically	empirically	ADV
ajeer-220	122	38	that	that	SCONJ
ajeer-220	122	39	the	the	DET
ajeer-220	122	40	disclosure	disclosure	NOUN
ajeer-220	122	41	of	of	ADP
ajeer-220	122	42	potential	potential	ADJ
ajeer-220	122	43	synergy	synergy	NOUN
ajeer-220	122	44	information	information	NOUN
ajeer-220	122	45	by	by	ADP
ajeer-220	122	46	acquiring	acquire	VERB
ajeer-220	122	47	firms	firm	NOUN
ajeer-220	122	48	is	be	AUX
ajeer-220	122	49	being	be	AUX
ajeer-220	122	50	perceived	perceive	VERB
ajeer-220	122	51	positively	positively	ADV
ajeer-220	122	52	by	by	ADP
ajeer-220	122	53	the	the	DET
ajeer-220	122	54	security	security	NOUN
ajeer-220	122	55	market	market	NOUN
ajeer-220	122	56	that	that	SCONJ
ajeer-220	122	57	in	in	ADP
ajeer-220	122	58	turn	turn	NOUN
ajeer-220	122	59	results	result	NOUN
ajeer-220	122	60	in	in	ADP
ajeer-220	122	61	value	value	NOUN
ajeer-220	122	62	creation	creation	NOUN
ajeer-220	122	63	for	for	ADP
ajeer-220	122	64	shareholders	shareholder	NOUN
ajeer-220	122	65	in	in	ADP
ajeer-220	122	66	the	the	DET
ajeer-220	122	67	short	short	ADJ
ajeer-220	122	68	-	-	PUNCT
ajeer-220	122	69	term	term	NOUN
ajeer-220	122	70	.	.	PUNCT
ajeer-220	123	1	thus	thus	ADV
ajeer-220	123	2	it	it	PRON
ajeer-220	123	3	can	can	AUX
ajeer-220	123	4	be	be	AUX
ajeer-220	123	5	argued	argue	VERB
ajeer-220	123	6	that	that	SCONJ
ajeer-220	123	7	value	value	NOUN
ajeer-220	123	8	creation	creation	NOUN
ajeer-220	123	9	is	be	AUX
ajeer-220	123	10	much	much	ADV
ajeer-220	123	11	broader	broad	ADJ
ajeer-220	123	12	term	term	NOUN
ajeer-220	123	13	that	that	PRON
ajeer-220	123	14	requires	require	VERB
ajeer-220	123	15	a	a	DET
ajeer-220	123	16	holistic	holistic	ADJ
ajeer-220	123	17	approach	approach	NOUN
ajeer-220	123	18	to	to	PART
ajeer-220	123	19	ensure	ensure	VERB
ajeer-220	123	20	value	value	NOUN
ajeer-220	123	21	creation	creation	NOUN
ajeer-220	123	22	rather	rather	ADV
ajeer-220	123	23	than	than	ADP
ajeer-220	123	24	relying	rely	VERB
ajeer-220	123	25	on	on	ADP
ajeer-220	123	26	predefined	predefine	VERB
ajeer-220	123	27	variables	variable	NOUN
ajeer-220	123	28	.	.	PUNCT
ajeer-220	124	1	that	that	PRON
ajeer-220	124	2	is	be	AUX
ajeer-220	124	3	why	why	SCONJ
ajeer-220	124	4	singla	singla	PRON
ajeer-220	124	5	et	et	PROPN
ajeer-220	124	6	al	al	PROPN
ajeer-220	124	7	.	.	PROPN
ajeer-220	125	1	(	(	PUNCT
ajeer-220	125	2	2012	2012	NUM
ajeer-220	125	3	)	)	PUNCT
ajeer-220	125	4	by	by	ADP
ajeer-220	125	5	investigating	investigate	VERB
ajeer-220	125	6	cross	cross	NOUN
ajeer-220	125	7	border	border	NOUN
ajeer-220	125	8	merger	merger	NOUN
ajeer-220	125	9	and	and	CCONJ
ajeer-220	125	10	acquisition	acquisition	NOUN
ajeer-220	125	11	on	on	ADP
ajeer-220	125	12	the	the	DET
ajeer-220	125	13	financial	financial	ADJ
ajeer-220	125	14	performance	performance	NOUN
ajeer-220	125	15	of	of	ADP
ajeer-220	125	16	indian	indian	ADJ
ajeer-220	125	17	acquiring	acquire	VERB
ajeer-220	125	18	companies	company	NOUN
ajeer-220	125	19	,	,	PUNCT
ajeer-220	125	20	argue	argue	VERB
ajeer-220	125	21	that	that	SCONJ
ajeer-220	125	22	value	value	NOUN
ajeer-220	125	23	creation	creation	NOUN
ajeer-220	125	24	determinants	determinant	NOUN
ajeer-220	125	25	of	of	ADP
ajeer-220	125	26	cbm&a	cbm&a	NOUN
ajeer-220	125	27	such	such	ADJ
ajeer-220	125	28	as	as	ADP
ajeer-220	125	29	profitability	profitability	NOUN
ajeer-220	125	30	ratios	ratio	NOUN
ajeer-220	125	31	,	,	PUNCT
ajeer-220	125	32	cash	cash	NOUN
ajeer-220	125	33	flow	flow	NOUN
ajeer-220	125	34	measures	measure	NOUN
ajeer-220	125	35	and	and	CCONJ
ajeer-220	125	36	stock	stock	NOUN
ajeer-220	125	37	market	market	NOUN
ajeer-220	125	38	estimates	estimate	NOUN
ajeer-220	125	39	compared	compare	VERB
ajeer-220	125	40	to	to	ADP
ajeer-220	125	41	industry	industry	NOUN
ajeer-220	125	42	peers	peer	NOUN
ajeer-220	125	43	vary	vary	VERB
ajeer-220	125	44	from	from	ADP
ajeer-220	125	45	country	country	NOUN
ajeer-220	125	46	to	to	ADP
ajeer-220	125	47	country	country	NOUN
ajeer-220	125	48	.	.	PUNCT
ajeer-220	126	1	in	in	ADP
ajeer-220	126	2	other	other	ADJ
ajeer-220	126	3	words	word	NOUN
ajeer-220	126	4	,	,	PUNCT
ajeer-220	126	5	in	in	ADP
ajeer-220	126	6	some	some	DET
ajeer-220	126	7	countries	country	NOUN
ajeer-220	126	8	stock	stock	NOUN
ajeer-220	126	9	market	market	NOUN
ajeer-220	126	10	estimates	estimate	NOUN
ajeer-220	126	11	may	may	AUX
ajeer-220	126	12	trigger	trigger	VERB
ajeer-220	126	13	value	value	NOUN
ajeer-220	126	14	creation	creation	NOUN
ajeer-220	126	15	but	but	CCONJ
ajeer-220	126	16	in	in	ADP
ajeer-220	126	17	other	other	ADJ
ajeer-220	126	18	country	country	NOUN
ajeer-220	126	19	security	security	NOUN
ajeer-220	126	20	market	market	NOUN
ajeer-220	126	21	may	may	AUX
ajeer-220	126	22	not	not	PART
ajeer-220	126	23	be	be	AUX
ajeer-220	126	24	efficient	efficient	ADJ
ajeer-220	126	25	enough	enough	ADV
ajeer-220	126	26	to	to	PART
ajeer-220	126	27	reflect	reflect	VERB
ajeer-220	126	28	the	the	DET
ajeer-220	126	29	success	success	NOUN
ajeer-220	126	30	of	of	ADP
ajeer-220	126	31	a	a	DET
ajeer-220	126	32	particular	particular	ADJ
ajeer-220	126	33	m&a	m&a	PROPN
ajeer-220	126	34	.	.	PUNCT
ajeer-220	127	1	this	this	PRON
ajeer-220	127	2	is	be	AUX
ajeer-220	127	3	well	well	ADV
ajeer-220	127	4	evident	evident	ADJ
ajeer-220	127	5	by	by	ADP
ajeer-220	127	6	the	the	DET
ajeer-220	127	7	findings	finding	NOUN
ajeer-220	127	8	of	of	ADP
ajeer-220	127	9	elango	elango	PROPN
ajeer-220	127	10	(	(	PUNCT
ajeer-220	127	11	2006	2006	NUM
ajeer-220	127	12	)	)	PUNCT
ajeer-220	127	13	who	who	PRON
ajeer-220	127	14	by	by	ADP
ajeer-220	127	15	investigating	investigate	VERB
ajeer-220	127	16	the	the	DET
ajeer-220	127	17	impact	impact	NOUN
ajeer-220	127	18	of	of	ADP
ajeer-220	127	19	international	international	ADJ
ajeer-220	127	20	acquisition	acquisition	NOUN
ajeer-220	127	21	announcement	announcement	NOUN
ajeer-220	127	22	on	on	ADP
ajeer-220	127	23	an	an	DET
ajeer-220	127	24	insurance	insurance	NOUN
ajeer-220	127	25	firm	firm	NOUN
ajeer-220	127	26	’s	’s	PART
ajeer-220	127	27	shareholder	shareholder	NOUN
ajeer-220	127	28	’s	’s	PART
ajeer-220	127	29	wealth	wealth	NOUN
ajeer-220	127	30	,	,	PUNCT
ajeer-220	127	31	argue	argue	VERB
ajeer-220	127	32	that	that	SCONJ
ajeer-220	127	33	overseas	overseas	ADJ
ajeer-220	127	34	acquisition	acquisition	NOUN
ajeer-220	127	35	were	be	AUX
ajeer-220	127	36	found	find	VERB
ajeer-220	127	37	to	to	PART
ajeer-220	127	38	be	be	AUX
ajeer-220	127	39	insignificant	insignificant	ADJ
ajeer-220	127	40	statistically	statistically	ADV
ajeer-220	127	41	in	in	ADP
ajeer-220	127	42	terms	term	NOUN
ajeer-220	127	43	of	of	ADP
ajeer-220	127	44	market	market	NOUN
ajeer-220	127	45	returns	return	NOUN
ajeer-220	127	46	which	which	PRON
ajeer-220	127	47	the	the	DET
ajeer-220	127	48	author	author	NOUN
ajeer-220	127	49	contributed	contribute	VERB
ajeer-220	127	50	to	to	ADP
ajeer-220	127	51	factors	factor	NOUN
ajeer-220	127	52	i.e.	i.e.	X
ajeer-220	127	53	the	the	DET
ajeer-220	127	54	degree	degree	NOUN
ajeer-220	127	55	of	of	ADP
ajeer-220	127	56	wealth	wealth	NOUN
ajeer-220	127	57	of	of	ADP
ajeer-220	127	58	the	the	DET
ajeer-220	127	59	host	host	NOUN
ajeer-220	127	60	country	country	NOUN
ajeer-220	127	61	,	,	PUNCT
ajeer-220	127	62	amount	amount	NOUN
ajeer-220	127	63	of	of	ADP
ajeer-220	127	64	bilateral	bilateral	ADJ
ajeer-220	127	65	trade	trade	NOUN
ajeer-220	127	66	between	between	ADP
ajeer-220	127	67	host	host	NOUN
ajeer-220	127	68	and	and	CCONJ
ajeer-220	127	69	home	home	NOUN
ajeer-220	127	70	country	country	NOUN
ajeer-220	127	71	,	,	PUNCT
ajeer-220	127	72	extent	extent	NOUN
ajeer-220	127	73	of	of	ADP
ajeer-220	127	74	potential	potential	ADJ
ajeer-220	127	75	liabilities	liability	NOUN
ajeer-220	127	76	of	of	ADP
ajeer-220	127	77	foreignness	foreignness	NOUN
ajeer-220	127	78	(	(	PUNCT
ajeer-220	127	79	lof	lof	PROPN
ajeer-220	127	80	)	)	PUNCT
ajeer-220	127	81	faced	face	VERB
ajeer-220	127	82	by	by	ADP
ajeer-220	127	83	the	the	DET
ajeer-220	127	84	firm	firm	NOUN
ajeer-220	127	85	,	,	PUNCT
ajeer-220	127	86	and	and	CCONJ
ajeer-220	127	87	economies	economy	NOUN
ajeer-220	127	88	of	of	ADP
ajeer-220	127	89	scope	scope	NOUN
ajeer-220	127	90	.	.	PUNCT
ajeer-220	128	1	moreover	moreover	ADV
ajeer-220	128	2	,	,	PUNCT
ajeer-220	128	3	some	some	PRON
ajeer-220	128	4	of	of	ADP
ajeer-220	128	5	the	the	DET
ajeer-220	128	6	m&a	m&a	PROPN
ajeer-220	128	7	deals	deal	NOUN
ajeer-220	128	8	may	may	AUX
ajeer-220	128	9	not	not	PART
ajeer-220	128	10	be	be	AUX
ajeer-220	128	11	meant	mean	VERB
ajeer-220	128	12	to	to	PART
ajeer-220	128	13	create	create	VERB
ajeer-220	128	14	short	short	ADJ
ajeer-220	128	15	term	term	NOUN
ajeer-220	128	16	shareholders	shareholder	NOUN
ajeer-220	128	17	value	value	NOUN
ajeer-220	128	18	but	but	CCONJ
ajeer-220	128	19	rather	rather	ADV
ajeer-220	128	20	be	be	AUX
ajeer-220	128	21	aimed	aim	VERB
ajeer-220	128	22	for	for	ADP
ajeer-220	128	23	like	like	INTJ
ajeer-220	128	24	growing	grow	VERB
ajeer-220	128	25	bigger	big	ADJ
ajeer-220	128	26	in	in	ADP
ajeer-220	128	27	size	size	NOUN
ajeer-220	128	28	or	or	CCONJ
ajeer-220	128	29	achieving	achieve	VERB
ajeer-220	128	30	global	global	ADJ
ajeer-220	128	31	status	status	NOUN
ajeer-220	128	32	in	in	ADP
ajeer-220	128	33	order	order	NOUN
ajeer-220	128	34	to	to	PART
ajeer-220	128	35	ensure	ensure	VERB
ajeer-220	128	36	long	long	ADJ
ajeer-220	128	37	term	term	NOUN
ajeer-220	128	38	strategic	strategic	ADJ
ajeer-220	128	39	growth	growth	NOUN
ajeer-220	128	40	as	as	SCONJ
ajeer-220	128	41	argued	argue	VERB
ajeer-220	128	42	by	by	ADP
ajeer-220	128	43	singla	singla	PROPN
ajeer-220	128	44	et	et	PROPN
ajeer-220	128	45	al	al	PROPN
ajeer-220	128	46	.	.	PROPN
ajeer-220	129	1	(	(	PUNCT
ajeer-220	129	2	2012	2012	NUM
ajeer-220	129	3	)	)	PUNCT
ajeer-220	129	4	.	.	PUNCT
ajeer-220	130	1	3	3	X
ajeer-220	130	2	.	.	X
ajeer-220	130	3	research	research	NOUN
ajeer-220	130	4	methodology	methodology	NOUN
ajeer-220	130	5	a	a	DET
ajeer-220	130	6	number	number	NOUN
ajeer-220	130	7	of	of	ADP
ajeer-220	130	8	researchers	researcher	NOUN
ajeer-220	130	9	have	have	AUX
ajeer-220	130	10	investigated	investigate	VERB
ajeer-220	130	11	empirically	empirically	ADV
ajeer-220	130	12	the	the	DET
ajeer-220	130	13	short	short	ADJ
ajeer-220	130	14	-	-	PUNCT
ajeer-220	130	15	term	term	NOUN
ajeer-220	130	16	gain	gain	NOUN
ajeer-220	130	17	of	of	ADP
ajeer-220	130	18	uk	uk	PROPN
ajeer-220	130	19	acquiring	acquire	VERB
ajeer-220	130	20	firms	firm	NOUN
ajeer-220	130	21	and	and	CCONJ
ajeer-220	130	22	have	have	AUX
ajeer-220	130	23	also	also	ADV
ajeer-220	130	24	reported	report	VERB
ajeer-220	130	25	statistically	statistically	ADV
ajeer-220	130	26	significant	significant	ADJ
ajeer-220	130	27	positive	positive	ADJ
ajeer-220	130	28	return	return	NOUN
ajeer-220	130	29	for	for	ADP
ajeer-220	130	30	uk	uk	PROPN
ajeer-220	130	31	shareholders	shareholder	NOUN
ajeer-220	130	32	delaney	delaney	NOUN
ajeer-220	130	33	and	and	CCONJ
ajeer-220	130	34	wamuziri	wamuziri	NOUN
ajeer-220	130	35	(	(	PUNCT
ajeer-220	130	36	2004	2004	NUM
ajeer-220	130	37	)	)	PUNCT
ajeer-220	130	38	;	;	PUNCT
ajeer-220	131	1	hassan	hassan	PROPN
ajeer-220	131	2	et	et	PROPN
ajeer-220	131	3	al	al	PROPN
ajeer-220	131	4	.	.	PROPN
ajeer-220	131	5	(	(	PUNCT
ajeer-220	131	6	2004	2004	NUM
ajeer-220	131	7	)	)	PUNCT
ajeer-220	131	8	and	and	CCONJ
ajeer-220	131	9	du	du	PROPN
ajeer-220	131	10	and	and	CCONJ
ajeer-220	131	11	boateng	boateng	PROPN
ajeer-220	131	12	(	(	PUNCT
ajeer-220	131	13	2014	2014	NUM
ajeer-220	131	14	)	)	PUNCT
ajeer-220	131	15	.	.	PUNCT
ajeer-220	132	1	however	however	ADV
ajeer-220	132	2	,	,	PUNCT
ajeer-220	132	3	some	some	PRON
ajeer-220	132	4	of	of	ADP
ajeer-220	132	5	the	the	DET
ajeer-220	132	6	researchers	researcher	NOUN
ajeer-220	132	7	such	such	ADJ
ajeer-220	132	8	as	as	ADP
ajeer-220	132	9	chanmugam	chanmugam	NOUN
ajeer-220	132	10	et	et	PROPN
ajeer-220	132	11	al	al	PROPN
ajeer-220	132	12	.	.	PUNCT
ajeer-220	132	13	(	(	PUNCT
ajeer-220	132	14	2005	2005	NUM
ajeer-220	132	15	)	)	PUNCT
ajeer-220	132	16	;	;	PUNCT
ajeer-220	132	17	kursten	kursten	X
ajeer-220	132	18	(	(	PUNCT
ajeer-220	132	19	2008	2008	NUM
ajeer-220	132	20	)	)	PUNCT
ajeer-220	132	21	;	;	PUNCT
ajeer-220	132	22	macdonald	macdonald	PROPN
ajeer-220	132	23	(	(	PUNCT
ajeer-220	132	24	2005	2005	NUM
ajeer-220	132	25	)	)	PUNCT
ajeer-220	132	26	do	do	AUX
ajeer-220	132	27	not	not	PART
ajeer-220	132	28	support	support	VERB
ajeer-220	132	29	that	that	DET
ajeer-220	132	30	view	view	NOUN
ajeer-220	132	31	that	that	SCONJ
ajeer-220	132	32	m&as	m&as	NOUN
ajeer-220	132	33	can	can	AUX
ajeer-220	132	34	result	result	VERB
ajeer-220	132	35	in	in	ADP
ajeer-220	132	36	short	short	ADJ
ajeer-220	132	37	-	-	PUNCT
ajeer-220	132	38	term	term	NOUN
ajeer-220	132	39	gain	gain	NOUN
ajeer-220	132	40	for	for	ADP
ajeer-220	132	41	shareholders	shareholder	NOUN
ajeer-220	132	42	.	.	PUNCT
ajeer-220	133	1	nevertheless	nevertheless	ADV
ajeer-220	133	2	,	,	PUNCT
ajeer-220	133	3	researchers	researcher	NOUN
ajeer-220	133	4	like	like	ADP
ajeer-220	133	5	dutordoir	dutordoir	PROPN
ajeer-220	133	6	et	et	PROPN
ajeer-220	133	7	al	al	PROPN
ajeer-220	133	8	.	.	PROPN
ajeer-220	133	9	(	(	PUNCT
ajeer-220	133	10	2014	2014	NUM
ajeer-220	133	11	)	)	PUNCT
ajeer-220	133	12	and	and	CCONJ
ajeer-220	133	13	singla	singla	ADV
ajeer-220	133	14	et	et	PROPN
ajeer-220	133	15	al	al	PROPN
ajeer-220	133	16	.	.	PROPN
ajeer-220	133	17	(	(	PUNCT
ajeer-220	133	18	2012	2012	NUM
ajeer-220	133	19	)	)	PUNCT
ajeer-220	133	20	argue	argue	VERB
ajeer-220	133	21	that	that	SCONJ
ajeer-220	133	22	there	there	PRON
ajeer-220	133	23	are	be	VERB
ajeer-220	133	24	several	several	ADJ
ajeer-220	133	25	variables	variable	NOUN
ajeer-220	133	26	that	that	PRON
ajeer-220	133	27	contribute	contribute	VERB
ajeer-220	133	28	in	in	ADP
ajeer-220	133	29	the	the	DET
ajeer-220	133	30	creation	creation	NOUN
ajeer-220	133	31	of	of	ADP
ajeer-220	133	32	shareholders	shareholder	NOUN
ajeer-220	133	33	value	value	NOUN
ajeer-220	133	34	as	as	ADP
ajeer-220	133	35	a	a	DET
ajeer-220	133	36	result	result	NOUN
ajeer-220	133	37	of	of	ADP
ajeer-220	133	38	mergers	merger	NOUN
ajeer-220	133	39	and	and	CCONJ
ajeer-220	133	40	acquisition	acquisition	NOUN
ajeer-220	133	41	deals	deal	NOUN
ajeer-220	133	42	both	both	CCONJ
ajeer-220	133	43	in	in	ADP
ajeer-220	133	44	the	the	DET
ajeer-220	133	45	short	short	ADJ
ajeer-220	133	46	and	and	CCONJ
ajeer-220	133	47	long	long	ADJ
ajeer-220	133	48	-	-	PUNCT
ajeer-220	133	49	term	term	NOUN
ajeer-220	133	50	scenarios	scenario	NOUN
ajeer-220	133	51	.	.	PUNCT
ajeer-220	134	1	researchers	researcher	NOUN
ajeer-220	134	2	have	have	AUX
ajeer-220	134	3	applied	apply	VERB
ajeer-220	134	4	both	both	CCONJ
ajeer-220	134	5	quantitative	quantitative	ADJ
ajeer-220	134	6	and	and	CCONJ
ajeer-220	134	7	qualitative	qualitative	ADJ
ajeer-220	134	8	methods	method	NOUN
ajeer-220	134	9	to	to	PART
ajeer-220	134	10	dig	dig	VERB
ajeer-220	134	11	deep	deep	ADV
ajeer-220	134	12	into	into	ADP
ajeer-220	134	13	the	the	DET
ajeer-220	134	14	area	area	NOUN
ajeer-220	134	15	whether	whether	SCONJ
ajeer-220	134	16	shareholders	shareholder	NOUN
ajeer-220	134	17	benefit	benefit	VERB
ajeer-220	134	18	from	from	ADP
ajeer-220	134	19	any	any	DET
ajeer-220	134	20	proposed	propose	VERB
ajeer-220	134	21	merger	merger	NOUN
ajeer-220	134	22	/	/	SYM
ajeer-220	134	23	acquisition	acquisition	NOUN
ajeer-220	134	24	deals	deal	NOUN
ajeer-220	134	25	.	.	PUNCT
ajeer-220	135	1	however	however	ADV
ajeer-220	135	2	,	,	PUNCT
ajeer-220	135	3	majority	majority	NOUN
ajeer-220	135	4	of	of	ADP
ajeer-220	135	5	the	the	DET
ajeer-220	135	6	researchers	researcher	NOUN
ajeer-220	135	7	such	such	ADJ
ajeer-220	135	8	as	as	ADP
ajeer-220	135	9	singla	singla	PROPN
ajeer-220	135	10	et	et	PROPN
ajeer-220	135	11	al	al	PROPN
ajeer-220	135	12	.	.	PROPN
ajeer-220	135	13	(	(	PUNCT
ajeer-220	135	14	2012	2012	NUM
ajeer-220	135	15	)	)	PUNCT
ajeer-220	135	16	;	;	PUNCT
ajeer-220	135	17	du	du	PROPN
ajeer-220	135	18	and	and	CCONJ
ajeer-220	135	19	boateng	boateng	PROPN
ajeer-220	135	20	(	(	PUNCT
ajeer-220	135	21	2014	2014	NUM
ajeer-220	135	22	)	)	PUNCT
ajeer-220	135	23	;	;	PUNCT
ajeer-220	135	24	hassan	hassan	PROPN
ajeer-220	135	25	et	et	PROPN
ajeer-220	135	26	al	al	PROPN
ajeer-220	135	27	.	.	PROPN
ajeer-220	135	28	(	(	PUNCT
ajeer-220	135	29	2004	2004	NUM
ajeer-220	135	30	)	)	PUNCT
ajeer-220	135	31	and	and	CCONJ
ajeer-220	135	32	delaney	delaney	PROPN
ajeer-220	135	33	and	and	CCONJ
ajeer-220	135	34	wamuziri	wamuziri	NOUN
ajeer-220	135	35	(	(	PUNCT
ajeer-220	135	36	2004	2004	NUM
ajeer-220	135	37	)	)	PUNCT
ajeer-220	135	38	have	have	AUX
ajeer-220	135	39	carried	carry	VERB
ajeer-220	135	40	out	out	ADP
ajeer-220	135	41	quantitative	quantitative	ADJ
ajeer-220	135	42	empirical	empirical	ADJ
ajeer-220	135	43	research	research	NOUN
ajeer-220	135	44	based	base	VERB
ajeer-220	135	45	on	on	ADP
ajeer-220	135	46	time	time	NOUN
ajeer-220	135	47	series	series	PROPN
ajeer-220	135	48	data	datum	NOUN
ajeer-220	135	49	of	of	ADP
ajeer-220	135	50	the	the	DET
ajeer-220	135	51	respective	respective	ADJ
ajeer-220	135	52	companies	company	NOUN
ajeer-220	135	53	stocks	stock	NOUN
ajeer-220	135	54	to	to	PART
ajeer-220	135	55	determine	determine	VERB
ajeer-220	135	56	whether	whether	SCONJ
ajeer-220	135	57	there	there	PRON
ajeer-220	135	58	is	be	VERB
ajeer-220	135	59	any	any	DET
ajeer-220	135	60	influence	influence	NOUN
ajeer-220	135	61	on	on	ADP
ajeer-220	135	62	the	the	DET
ajeer-220	135	63	movement	movement	NOUN
ajeer-220	135	64	of	of	ADP
ajeer-220	135	65	security	security	NOUN
ajeer-220	135	66	as	as	ADP
ajeer-220	135	67	a	a	DET
ajeer-220	135	68	result	result	NOUN
ajeer-220	135	69	of	of	ADP
ajeer-220	135	70	merger	merger	NOUN
ajeer-220	135	71	/	/	SYM
ajeer-220	135	72	acquisition	acquisition	NOUN
ajeer-220	135	73	.	.	PUNCT
ajeer-220	136	1	this	this	DET
ajeer-220	136	2	study	study	NOUN
ajeer-220	136	3	also	also	ADV
ajeer-220	136	4	aims	aim	VERB
ajeer-220	136	5	to	to	PART
ajeer-220	136	6	examine	examine	VERB
ajeer-220	136	7	asian	asian	ADJ
ajeer-220	136	8	journal	journal	NOUN
ajeer-220	136	9	of	of	ADP
ajeer-220	136	10	economics	economic	NOUN
ajeer-220	136	11	and	and	CCONJ
ajeer-220	136	12	empirical	empirical	ADJ
ajeer-220	136	13	research	research	NOUN
ajeer-220	136	14	,	,	PUNCT
ajeer-220	136	15	2016	2016	NUM
ajeer-220	136	16	,	,	PUNCT
ajeer-220	136	17	3(2):130	3(2):130	NUM
ajeer-220	136	18	-	-	SYM
ajeer-220	136	19	138	138	NUM
ajeer-220	136	20	134	134	NUM
ajeer-220	136	21	the	the	DET
ajeer-220	136	22	impact	impact	NOUN
ajeer-220	136	23	of	of	ADP
ajeer-220	136	24	cross	cross	ADJ
ajeer-220	136	25	border	border	NOUN
ajeer-220	136	26	merger	merger	NOUN
ajeer-220	136	27	and	and	CCONJ
ajeer-220	136	28	acquisition	acquisition	NOUN
ajeer-220	136	29	on	on	ADP
ajeer-220	136	30	the	the	DET
ajeer-220	136	31	financial	financial	ADJ
ajeer-220	136	32	performance	performance	NOUN
ajeer-220	136	33	of	of	ADP
ajeer-220	136	34	uk	uk	PROPN
ajeer-220	136	35	acquiring	acquire	VERB
ajeer-220	136	36	companies	company	NOUN
ajeer-220	136	37	by	by	ADP
ajeer-220	136	38	using	use	VERB
ajeer-220	136	39	financial	financial	ADJ
ajeer-220	136	40	ratios	ratio	NOUN
ajeer-220	136	41	i.e.	i.e.	X
ajeer-220	136	42	profitability	profitability	NOUN
ajeer-220	136	43	,	,	PUNCT
ajeer-220	136	44	liquidity	liquidity	NOUN
ajeer-220	136	45	and	and	CCONJ
ajeer-220	136	46	solvency	solvency	NOUN
ajeer-220	136	47	analysis	analysis	NOUN
ajeer-220	136	48	.	.	PUNCT
ajeer-220	137	1	moreover	moreover	ADV
ajeer-220	137	2	,	,	PUNCT
ajeer-220	137	3	to	to	PART
ajeer-220	137	4	analyse	analyse	VERB
ajeer-220	137	5	the	the	DET
ajeer-220	137	6	immediate	immediate	ADJ
ajeer-220	137	7	impact	impact	NOUN
ajeer-220	137	8	of	of	ADP
ajeer-220	137	9	cross	cross	ADJ
ajeer-220	137	10	border	border	NOUN
ajeer-220	137	11	merger	merger	NOUN
ajeer-220	137	12	and	and	CCONJ
ajeer-220	137	13	acquisition	acquisition	NOUN
ajeer-220	137	14	on	on	ADP
ajeer-220	137	15	the	the	DET
ajeer-220	137	16	uk	uk	PROPN
ajeer-220	137	17	acquiring	acquire	VERB
ajeer-220	137	18	companies	company	NOUN
ajeer-220	137	19	shareholders	shareholder	NOUN
ajeer-220	137	20	’	'	PUNCT
ajeer-220	137	21	wealth	wealth	NOUN
ajeer-220	137	22	time	time	NOUN
ajeer-220	137	23	series	series	PROPN
ajeer-220	137	24	data	datum	NOUN
ajeer-220	137	25	of	of	ADP
ajeer-220	137	26	stocks	stock	NOUN
ajeer-220	137	27	prices	price	NOUN
ajeer-220	137	28	has	have	AUX
ajeer-220	137	29	been	be	AUX
ajeer-220	137	30	analysed	analyse	VERB
ajeer-220	137	31	through	through	ADP
ajeer-220	137	32	regression	regression	NOUN
ajeer-220	137	33	analysis	analysis	NOUN
ajeer-220	137	34	.	.	PUNCT
ajeer-220	138	1	4	4	X
ajeer-220	138	2	.	.	X
ajeer-220	138	3	hypothesis	hypothesis	NOUN
ajeer-220	138	4	h0	h0	NOUN
ajeer-220	138	5	(	(	PUNCT
ajeer-220	138	6	1	1	NUM
ajeer-220	138	7	):	):	PUNCT
ajeer-220	138	8	the	the	DET
ajeer-220	138	9	financial	financial	ADJ
ajeer-220	138	10	performances	performance	NOUN
ajeer-220	138	11	of	of	ADP
ajeer-220	138	12	uk	uk	PROPN
ajeer-220	138	13	acquiring	acquire	VERB
ajeer-220	138	14	companies	company	NOUN
ajeer-220	138	15	do	do	AUX
ajeer-220	138	16	not	not	PART
ajeer-220	138	17	change	change	VERB
ajeer-220	138	18	significantly	significantly	ADV
ajeer-220	138	19	after	after	ADP
ajeer-220	138	20	the	the	DET
ajeer-220	138	21	acquisition	acquisition	NOUN
ajeer-220	138	22	compared	compare	VERB
ajeer-220	138	23	to	to	ADP
ajeer-220	138	24	their	their	PRON
ajeer-220	138	25	pre	pre	NOUN
ajeer-220	138	26	-	-	NOUN
ajeer-220	138	27	merger	merger	ADJ
ajeer-220	138	28	/	/	SYM
ajeer-220	138	29	acquisition	acquisition	NOUN
ajeer-220	138	30	level	level	NOUN
ajeer-220	138	31	.	.	PUNCT
ajeer-220	139	1	h0	h0	NOUN
ajeer-220	139	2	(	(	PUNCT
ajeer-220	139	3	2	2	NUM
ajeer-220	139	4	):	):	PUNCT
ajeer-220	139	5	the	the	DET
ajeer-220	139	6	shareholders	shareholder	NOUN
ajeer-220	139	7	of	of	ADP
ajeer-220	139	8	uk	uk	PROPN
ajeer-220	139	9	acquiring	acquire	VERB
ajeer-220	139	10	companies	company	NOUN
ajeer-220	139	11	do	do	AUX
ajeer-220	139	12	not	not	PART
ajeer-220	139	13	gain	gain	VERB
ajeer-220	139	14	significant	significant	ADJ
ajeer-220	139	15	value	value	NOUN
ajeer-220	139	16	from	from	ADP
ajeer-220	139	17	mergers	merger	NOUN
ajeer-220	139	18	and	and	CCONJ
ajeer-220	139	19	acquisitions	acquisition	NOUN
ajeer-220	139	20	activities	activity	NOUN
ajeer-220	139	21	.	.	PUNCT
ajeer-220	140	1	5	5	X
ajeer-220	140	2	.	.	X
ajeer-220	140	3	research	research	NOUN
ajeer-220	140	4	design	design	NOUN
ajeer-220	140	5	the	the	DET
ajeer-220	140	6	current	current	ADJ
ajeer-220	140	7	study	study	NOUN
ajeer-220	140	8	undertakes	undertake	VERB
ajeer-220	140	9	an	an	DET
ajeer-220	140	10	empirical	empirical	ADJ
ajeer-220	140	11	research	research	NOUN
ajeer-220	140	12	aimed	aim	VERB
ajeer-220	140	13	at	at	ADP
ajeer-220	140	14	determining	determine	VERB
ajeer-220	140	15	whether	whether	SCONJ
ajeer-220	140	16	merger	merger	NOUN
ajeer-220	140	17	/	/	SYM
ajeer-220	140	18	acquisition	acquisition	NOUN
ajeer-220	140	19	by	by	ADP
ajeer-220	140	20	the	the	DET
ajeer-220	140	21	uk	uk	PROPN
ajeer-220	140	22	acquiring	acquire	VERB
ajeer-220	140	23	companies	company	NOUN
ajeer-220	140	24	result	result	VERB
ajeer-220	140	25	in	in	ADP
ajeer-220	140	26	short	short	ADJ
ajeer-220	140	27	-	-	PUNCT
ajeer-220	140	28	term	term	NOUN
ajeer-220	140	29	gain	gain	NOUN
ajeer-220	140	30	for	for	ADP
ajeer-220	140	31	uk	uk	PROPN
ajeer-220	140	32	shareholders	shareholder	NOUN
ajeer-220	140	33	.	.	PUNCT
ajeer-220	141	1	the	the	DET
ajeer-220	141	2	study	study	NOUN
ajeer-220	141	3	is	be	AUX
ajeer-220	141	4	based	base	VERB
ajeer-220	141	5	on	on	ADP
ajeer-220	141	6	20	20	NUM
ajeer-220	141	7	uk	uk	PROPN
ajeer-220	141	8	based	base	VERB
ajeer-220	141	9	companies	company	NOUN
ajeer-220	141	10	from	from	ADP
ajeer-220	141	11	various	various	ADJ
ajeer-220	141	12	sectors	sector	NOUN
ajeer-220	141	13	that	that	PRON
ajeer-220	141	14	have	have	AUX
ajeer-220	141	15	gone	go	VERB
ajeer-220	141	16	through	through	ADP
ajeer-220	141	17	merger	merger	NOUN
ajeer-220	141	18	/	/	SYM
ajeer-220	141	19	acquisition	acquisition	NOUN
ajeer-220	141	20	activities	activity	NOUN
ajeer-220	141	21	during	during	ADP
ajeer-220	141	22	2009	2009	NUM
ajeer-220	141	23	to	to	ADP
ajeer-220	141	24	2013	2013	NUM
ajeer-220	141	25	.	.	PUNCT
ajeer-220	142	1	prior	prior	ADV
ajeer-220	142	2	to	to	ADP
ajeer-220	142	3	this	this	DET
ajeer-220	142	4	work	work	NOUN
ajeer-220	142	5	several	several	ADJ
ajeer-220	142	6	researchers	researcher	NOUN
ajeer-220	142	7	such	such	ADJ
ajeer-220	142	8	as	as	ADP
ajeer-220	142	9	uddin	uddin	PROPN
ajeer-220	142	10	and	and	CCONJ
ajeer-220	142	11	boateng	boateng	PROPN
ajeer-220	142	12	(	(	PUNCT
ajeer-220	142	13	2009	2009	NUM
ajeer-220	142	14	)	)	PUNCT
ajeer-220	142	15	have	have	AUX
ajeer-220	142	16	attempted	attempt	VERB
ajeer-220	142	17	to	to	PART
ajeer-220	142	18	investigate	investigate	VERB
ajeer-220	142	19	value	value	NOUN
ajeer-220	142	20	creation	creation	NOUN
ajeer-220	142	21	through	through	ADP
ajeer-220	142	22	m&as	m&as	PROPN
ajeer-220	142	23	in	in	ADP
ajeer-220	142	24	the	the	DET
ajeer-220	142	25	context	context	NOUN
ajeer-220	142	26	of	of	ADP
ajeer-220	142	27	uk	uk	PROPN
ajeer-220	142	28	but	but	CCONJ
ajeer-220	142	29	are	be	AUX
ajeer-220	142	30	conducted	conduct	VERB
ajeer-220	142	31	in	in	ADP
ajeer-220	142	32	either	either	CCONJ
ajeer-220	142	33	pre	pre	ADJ
ajeer-220	142	34	-	-	ADJ
ajeer-220	142	35	recessionary	recessionary	ADJ
ajeer-220	142	36	period	period	NOUN
ajeer-220	142	37	i.e.	i.e.	X
ajeer-220	142	38	before	before	ADP
ajeer-220	142	39	2007	2007	NUM
ajeer-220	142	40	or	or	CCONJ
ajeer-220	142	41	confined	confine	VERB
ajeer-220	142	42	to	to	ADP
ajeer-220	142	43	specific	specific	ADJ
ajeer-220	142	44	industry	industry	NOUN
ajeer-220	142	45	such	such	ADJ
ajeer-220	142	46	as	as	ADP
ajeer-220	142	47	the	the	DET
ajeer-220	142	48	work	work	NOUN
ajeer-220	142	49	by	by	ADP
ajeer-220	142	50	delaney	delaney	NOUN
ajeer-220	142	51	and	and	CCONJ
ajeer-220	142	52	wamuziri	wamuziri	NOUN
ajeer-220	142	53	(	(	PUNCT
ajeer-220	142	54	2004	2004	NUM
ajeer-220	142	55	)	)	PUNCT
ajeer-220	142	56	and	and	CCONJ
ajeer-220	142	57	jansson	jansson	PROPN
ajeer-220	142	58	et	et	PROPN
ajeer-220	142	59	al	al	PROPN
ajeer-220	142	60	.	.	PROPN
ajeer-220	143	1	(	(	PUNCT
ajeer-220	143	2	1994	1994	NUM
ajeer-220	143	3	)	)	PUNCT
ajeer-220	143	4	carried	carry	VERB
ajeer-220	143	5	out	out	ADP
ajeer-220	143	6	research	research	NOUN
ajeer-220	143	7	work	work	NOUN
ajeer-220	143	8	for	for	ADP
ajeer-220	143	9	either	either	CCONJ
ajeer-220	143	10	uk	uk	PROPN
ajeer-220	143	11	construction	construction	NOUN
ajeer-220	143	12	industry	industry	NOUN
ajeer-220	143	13	or	or	CCONJ
ajeer-220	143	14	manufacturing	manufacture	VERB
ajeer-220	143	15	industry	industry	NOUN
ajeer-220	143	16	respectively	respectively	ADV
ajeer-220	143	17	.	.	PUNCT
ajeer-220	144	1	thus	thus	ADV
ajeer-220	144	2	,	,	PUNCT
ajeer-220	144	3	the	the	DET
ajeer-220	144	4	sample	sample	NOUN
ajeer-220	144	5	of	of	ADP
ajeer-220	144	6	this	this	DET
ajeer-220	144	7	study	study	NOUN
ajeer-220	144	8	would	would	AUX
ajeer-220	144	9	provide	provide	VERB
ajeer-220	144	10	a	a	DET
ajeer-220	144	11	relatively	relatively	ADV
ajeer-220	144	12	greater	great	ADJ
ajeer-220	144	13	insight	insight	NOUN
ajeer-220	144	14	of	of	ADP
ajeer-220	144	15	the	the	DET
ajeer-220	144	16	uk	uk	PROPN
ajeer-220	144	17	m&as	m&as	PROPN
ajeer-220	144	18	activities	activity	NOUN
ajeer-220	144	19	as	as	SCONJ
ajeer-220	144	20	the	the	DET
ajeer-220	144	21	sample	sample	NOUN
ajeer-220	144	22	incorporate	incorporate	VERB
ajeer-220	144	23	leading	lead	VERB
ajeer-220	144	24	companies	company	NOUN
ajeer-220	144	25	from	from	ADP
ajeer-220	144	26	almost	almost	ADV
ajeer-220	144	27	all	all	DET
ajeer-220	144	28	the	the	DET
ajeer-220	144	29	uk	uk	PROPN
ajeer-220	144	30	’s	’s	PART
ajeer-220	144	31	industries	industry	NOUN
ajeer-220	144	32	as	as	ADV
ajeer-220	144	33	well	well	ADV
ajeer-220	144	34	as	as	SCONJ
ajeer-220	144	35	the	the	DET
ajeer-220	144	36	sample	sample	NOUN
ajeer-220	144	37	period	period	NOUN
ajeer-220	144	38	covers	cover	VERB
ajeer-220	144	39	both	both	CCONJ
ajeer-220	144	40	the	the	DET
ajeer-220	144	41	recession	recession	NOUN
ajeer-220	144	42	period	period	NOUN
ajeer-220	144	43	(	(	PUNCT
ajeer-220	144	44	2009/2011	2009/2011	NUM
ajeer-220	144	45	)	)	PUNCT
ajeer-220	144	46	and	and	CCONJ
ajeer-220	144	47	period	period	NOUN
ajeer-220	144	48	when	when	SCONJ
ajeer-220	144	49	uk	uk	PROPN
ajeer-220	144	50	’s	’s	PART
ajeer-220	144	51	economy	economy	NOUN
ajeer-220	144	52	started	start	VERB
ajeer-220	144	53	recovering	recover	VERB
ajeer-220	144	54	from	from	ADP
ajeer-220	144	55	the	the	DET
ajeer-220	144	56	financial	financial	ADJ
ajeer-220	144	57	recession	recession	NOUN
ajeer-220	144	58	during	during	ADP
ajeer-220	144	59	2012	2012	NUM
ajeer-220	144	60	and	and	CCONJ
ajeer-220	144	61	2013	2013	NUM
ajeer-220	144	62	.	.	PUNCT
ajeer-220	145	1	table	table	NOUN
ajeer-220	145	2	1	1	NUM
ajeer-220	145	3	provides	provide	VERB
ajeer-220	145	4	detailed	detailed	ADJ
ajeer-220	145	5	illustration	illustration	NOUN
ajeer-220	145	6	.	.	PUNCT
ajeer-220	146	1	in	in	ADP
ajeer-220	146	2	order	order	NOUN
ajeer-220	146	3	to	to	PART
ajeer-220	146	4	assess	assess	VERB
ajeer-220	146	5	pre	pre	ADJ
ajeer-220	146	6	-	-	NOUN
ajeer-220	146	7	merger	merger	ADJ
ajeer-220	146	8	and	and	CCONJ
ajeer-220	146	9	post	post	ADJ
ajeer-220	146	10	-	-	ADJ
ajeer-220	146	11	merger	merger	ADJ
ajeer-220	146	12	impact	impact	NOUN
ajeer-220	146	13	on	on	ADP
ajeer-220	146	14	companies	company	NOUN
ajeer-220	146	15	’	'	PUNCT
ajeer-220	146	16	performance	performance	NOUN
ajeer-220	146	17	,	,	PUNCT
ajeer-220	146	18	a	a	DET
ajeer-220	146	19	sample	sample	NOUN
ajeer-220	146	20	of	of	ADP
ajeer-220	146	21	5	5	NUM
ajeer-220	146	22	years	year	NOUN
ajeer-220	146	23	(	(	PUNCT
ajeer-220	146	24	20092013	20092013	NUM
ajeer-220	146	25	)	)	PUNCT
ajeer-220	146	26	has	have	AUX
ajeer-220	146	27	been	be	AUX
ajeer-220	146	28	selected	select	VERB
ajeer-220	146	29	which	which	PRON
ajeer-220	146	30	consist	consist	VERB
ajeer-220	146	31	of	of	ADP
ajeer-220	146	32	2	2	NUM
ajeer-220	146	33	years	year	NOUN
ajeer-220	146	34	prior	prior	ADV
ajeer-220	146	35	to	to	ADP
ajeer-220	146	36	acquisition	acquisition	NOUN
ajeer-220	146	37	and	and	CCONJ
ajeer-220	146	38	2	2	NUM
ajeer-220	146	39	years	year	NOUN
ajeer-220	146	40	after	after	ADP
ajeer-220	146	41	acquisition	acquisition	NOUN
ajeer-220	146	42	coupled	couple	VERB
ajeer-220	146	43	with	with	ADP
ajeer-220	146	44	acquisition	acquisition	NOUN
ajeer-220	146	45	year	year	NOUN
ajeer-220	146	46	in	in	ADP
ajeer-220	146	47	order	order	NOUN
ajeer-220	146	48	to	to	PART
ajeer-220	146	49	assess	assess	VERB
ajeer-220	146	50	the	the	DET
ajeer-220	146	51	pre	pre	NOUN
ajeer-220	146	52	-	-	NOUN
ajeer-220	146	53	merger	merger	ADJ
ajeer-220	146	54	and	and	CCONJ
ajeer-220	146	55	post	post	ADJ
ajeer-220	146	56	-	-	ADJ
ajeer-220	146	57	merger	merger	ADJ
ajeer-220	146	58	performance	performance	NOUN
ajeer-220	146	59	of	of	ADP
ajeer-220	146	60	the	the	DET
ajeer-220	146	61	underlying	underlie	VERB
ajeer-220	146	62	firms	firm	NOUN
ajeer-220	146	63	stocks	stock	NOUN
ajeer-220	146	64	.	.	PUNCT
ajeer-220	147	1	out	out	ADP
ajeer-220	147	2	of	of	ADP
ajeer-220	147	3	the	the	DET
ajeer-220	147	4	twenty	twenty	NUM
ajeer-220	147	5	sampled	sample	VERB
ajeer-220	147	6	companies	company	NOUN
ajeer-220	147	7	4	4	NUM
ajeer-220	147	8	companies	company	NOUN
ajeer-220	147	9	carried	carry	VERB
ajeer-220	147	10	out	out	ADP
ajeer-220	147	11	acquisition	acquisition	NOUN
ajeer-220	147	12	in	in	ADP
ajeer-220	147	13	2009	2009	NUM
ajeer-220	147	14	followed	follow	VERB
ajeer-220	147	15	by	by	ADP
ajeer-220	147	16	7	7	NUM
ajeer-220	147	17	in	in	ADP
ajeer-220	147	18	2010	2010	NUM
ajeer-220	147	19	and	and	CCONJ
ajeer-220	147	20	3	3	NUM
ajeer-220	147	21	in	in	ADP
ajeer-220	147	22	2011	2011	NUM
ajeer-220	147	23	.	.	PUNCT
ajeer-220	148	1	one	one	NUM
ajeer-220	148	2	company	company	NOUN
ajeer-220	148	3	had	have	VERB
ajeer-220	148	4	acquisition	acquisition	NOUN
ajeer-220	148	5	in	in	ADP
ajeer-220	148	6	2008	2008	NUM
ajeer-220	148	7	and	and	CCONJ
ajeer-220	148	8	2	2	NUM
ajeer-220	148	9	companies	company	NOUN
ajeer-220	148	10	had	have	VERB
ajeer-220	148	11	acquisition	acquisition	NOUN
ajeer-220	148	12	in	in	ADP
ajeer-220	148	13	2013	2013	NUM
ajeer-220	148	14	.	.	PUNCT
ajeer-220	149	1	in	in	ADP
ajeer-220	149	2	order	order	NOUN
ajeer-220	149	3	to	to	PART
ajeer-220	149	4	test	test	VERB
ajeer-220	149	5	the	the	DET
ajeer-220	149	6	first	first	ADJ
ajeer-220	149	7	hypothesis	hypothesis	NOUN
ajeer-220	149	8	profitability	profitability	NOUN
ajeer-220	149	9	,	,	PUNCT
ajeer-220	149	10	liquidity	liquidity	NOUN
ajeer-220	149	11	,	,	PUNCT
ajeer-220	149	12	debt	debt	NOUN
ajeer-220	149	13	and	and	CCONJ
ajeer-220	149	14	solvency	solvency	NOUN
ajeer-220	149	15	ratios	ratio	NOUN
ajeer-220	149	16	of	of	ADP
ajeer-220	149	17	the	the	DET
ajeer-220	149	18	sampled	sample	VERB
ajeer-220	149	19	companies	company	NOUN
ajeer-220	149	20	are	be	AUX
ajeer-220	149	21	calculated	calculate	VERB
ajeer-220	149	22	.	.	PUNCT
ajeer-220	150	1	the	the	DET
ajeer-220	150	2	analysis	analysis	NOUN
ajeer-220	150	3	involves	involve	VERB
ajeer-220	150	4	computing	compute	VERB
ajeer-220	150	5	the	the	DET
ajeer-220	150	6	underlying	underlie	VERB
ajeer-220	150	7	ratios	ratio	NOUN
ajeer-220	150	8	for	for	ADP
ajeer-220	150	9	the	the	DET
ajeer-220	150	10	period	period	NOUN
ajeer-220	150	11	of	of	ADP
ajeer-220	150	12	two	two	NUM
ajeer-220	150	13	years	year	NOUN
ajeer-220	150	14	prior	prior	ADV
ajeer-220	150	15	to	to	ADP
ajeer-220	150	16	merger	merger	NOUN
ajeer-220	150	17	and	and	CCONJ
ajeer-220	150	18	two	two	NUM
ajeer-220	150	19	years	year	NOUN
ajeer-220	150	20	after	after	ADP
ajeer-220	150	21	the	the	DET
ajeer-220	150	22	merger	merger	NOUN
ajeer-220	150	23	as	as	ADV
ajeer-220	150	24	well	well	ADV
ajeer-220	150	25	as	as	ADP
ajeer-220	150	26	the	the	DET
ajeer-220	150	27	calculation	calculation	NOUN
ajeer-220	150	28	for	for	ADP
ajeer-220	150	29	the	the	DET
ajeer-220	150	30	acquiring	acquire	VERB
ajeer-220	150	31	year	year	NOUN
ajeer-220	150	32	.	.	PUNCT
ajeer-220	151	1	the	the	DET
ajeer-220	151	2	industry	industry	NOUN
ajeer-220	151	3	average	average	ADJ
ajeer-220	151	4	number	number	NOUN
ajeer-220	151	5	has	have	AUX
ajeer-220	151	6	been	be	AUX
ajeer-220	151	7	used	use	VERB
ajeer-220	151	8	to	to	PART
ajeer-220	151	9	nullify	nullify	VERB
ajeer-220	151	10	the	the	DET
ajeer-220	151	11	effect	effect	NOUN
ajeer-220	151	12	of	of	ADP
ajeer-220	151	13	other	other	ADJ
ajeer-220	151	14	factors	factor	NOUN
ajeer-220	151	15	on	on	ADP
ajeer-220	151	16	corporate	corporate	ADJ
ajeer-220	151	17	performance	performance	NOUN
ajeer-220	151	18	in	in	ADP
ajeer-220	151	19	the	the	DET
ajeer-220	151	20	underlying	underlying	ADJ
ajeer-220	151	21	period	period	NOUN
ajeer-220	151	22	.	.	PUNCT
ajeer-220	152	1	these	these	DET
ajeer-220	152	2	ratios	ratio	NOUN
ajeer-220	152	3	i.e.	i.e.	X
ajeer-220	152	4	profitability	profitability	NOUN
ajeer-220	152	5	,	,	PUNCT
ajeer-220	152	6	liquidity	liquidity	NOUN
ajeer-220	152	7	and	and	CCONJ
ajeer-220	152	8	solvency	solvency	NOUN
ajeer-220	152	9	have	have	AUX
ajeer-220	152	10	been	be	AUX
ajeer-220	152	11	chosen	choose	VERB
ajeer-220	152	12	to	to	PART
ajeer-220	152	13	continue	continue	VERB
ajeer-220	152	14	with	with	ADP
ajeer-220	152	15	researchers	researcher	NOUN
ajeer-220	152	16	tradition	tradition	NOUN
ajeer-220	152	17	as	as	SCONJ
ajeer-220	152	18	many	many	ADJ
ajeer-220	152	19	prominent	prominent	ADJ
ajeer-220	152	20	researcher	researcher	NOUN
ajeer-220	152	21	have	have	AUX
ajeer-220	152	22	used	use	VERB
ajeer-220	152	23	these	these	DET
ajeer-220	152	24	ratios	ratio	NOUN
ajeer-220	152	25	to	to	PART
ajeer-220	152	26	examine	examine	VERB
ajeer-220	152	27	the	the	DET
ajeer-220	152	28	financial	financial	ADJ
ajeer-220	152	29	performance	performance	NOUN
ajeer-220	152	30	of	of	ADP
ajeer-220	152	31	different	different	ADJ
ajeer-220	152	32	organizations	organization	NOUN
ajeer-220	152	33	.	.	PUNCT
ajeer-220	153	1	as	as	ADP
ajeer-220	153	2	liu	liu	PROPN
ajeer-220	153	3	et	et	PROPN
ajeer-220	153	4	al	al	PROPN
ajeer-220	153	5	.	.	PROPN
ajeer-220	154	1	(	(	PUNCT
ajeer-220	154	2	2013	2013	NUM
ajeer-220	154	3	)	)	PUNCT
ajeer-220	154	4	profitability	profitability	NOUN
ajeer-220	154	5	,	,	PUNCT
ajeer-220	154	6	solvency	solvency	NOUN
ajeer-220	154	7	and	and	CCONJ
ajeer-220	154	8	liquidity	liquidity	NOUN
ajeer-220	154	9	ratios	ratio	NOUN
ajeer-220	154	10	to	to	PART
ajeer-220	154	11	examine	examine	VERB
ajeer-220	154	12	financial	financial	ADJ
ajeer-220	154	13	differences	difference	NOUN
ajeer-220	154	14	between	between	ADP
ajeer-220	154	15	chinese	chinese	ADJ
ajeer-220	154	16	and	and	CCONJ
ajeer-220	154	17	japanese	japanese	ADJ
ajeer-220	154	18	firms	firm	NOUN
ajeer-220	154	19	;	;	PUNCT
ajeer-220	154	20	similarly	similarly	ADV
ajeer-220	154	21	liquidity	liquidity	NOUN
ajeer-220	154	22	and	and	CCONJ
ajeer-220	154	23	profitability	profitability	NOUN
ajeer-220	154	24	ratios	ratio	NOUN
ajeer-220	154	25	have	have	AUX
ajeer-220	154	26	also	also	ADV
ajeer-220	154	27	been	be	AUX
ajeer-220	154	28	used	use	VERB
ajeer-220	154	29	by	by	ADP
ajeer-220	154	30	borhan	borhan	PROPN
ajeer-220	154	31	et	et	PROPN
ajeer-220	154	32	al	al	PROPN
ajeer-220	154	33	.	.	PROPN
ajeer-220	155	1	(	(	PUNCT
ajeer-220	155	2	2014	2014	NUM
ajeer-220	155	3	)	)	PUNCT
ajeer-220	156	1	to	to	PART
ajeer-220	156	2	examine	examine	VERB
ajeer-220	156	3	the	the	DET
ajeer-220	156	4	financial	financial	ADJ
ajeer-220	156	5	performance	performance	NOUN
ajeer-220	156	6	of	of	ADP
ajeer-220	156	7	chemical	chemical	NOUN
ajeer-220	156	8	company	company	NOUN
ajeer-220	157	1	.	.	PUNCT
ajeer-220	158	1	finally	finally	ADV
ajeer-220	158	2	,	,	PUNCT
ajeer-220	158	3	tan	tan	PROPN
ajeer-220	158	4	et	et	PROPN
ajeer-220	158	5	al	al	PROPN
ajeer-220	158	6	.	.	PROPN
ajeer-220	159	1	(	(	PUNCT
ajeer-220	159	2	1997	1997	NUM
ajeer-220	159	3	)	)	PUNCT
ajeer-220	159	4	used	use	VERB
ajeer-220	159	5	profitability	profitability	NOUN
ajeer-220	159	6	,	,	PUNCT
ajeer-220	159	7	liquidity	liquidity	NOUN
ajeer-220	159	8	and	and	CCONJ
ajeer-220	159	9	solvency	solvency	NOUN
ajeer-220	159	10	ratios	ratio	NOUN
ajeer-220	159	11	among	among	ADP
ajeer-220	159	12	other	other	ADJ
ajeer-220	159	13	to	to	PART
ajeer-220	159	14	measure	measure	VERB
ajeer-220	159	15	the	the	DET
ajeer-220	159	16	financial	financial	ADJ
ajeer-220	159	17	performance	performance	NOUN
ajeer-220	159	18	singapore	singapore	NOUN
ajeer-220	159	19	listed	list	VERB
ajeer-220	159	20	companies	company	NOUN
ajeer-220	159	21	.	.	PUNCT
ajeer-220	160	1	moreover	moreover	ADV
ajeer-220	160	2	,	,	PUNCT
ajeer-220	160	3	in	in	ADP
ajeer-220	160	4	the	the	DET
ajeer-220	160	5	context	context	NOUN
ajeer-220	160	6	of	of	ADP
ajeer-220	160	7	mergers	merger	NOUN
ajeer-220	160	8	and	and	CCONJ
ajeer-220	160	9	acquisitions	acquisition	NOUN
ajeer-220	160	10	singla	singla	VERB
ajeer-220	160	11	et	et	PROPN
ajeer-220	160	12	al	al	PROPN
ajeer-220	160	13	.	.	PROPN
ajeer-220	160	14	(	(	PUNCT
ajeer-220	160	15	2012	2012	NUM
ajeer-220	160	16	)	)	PUNCT
ajeer-220	160	17	liquidity	liquidity	NOUN
ajeer-220	160	18	,	,	PUNCT
ajeer-220	160	19	profitability	profitability	NOUN
ajeer-220	160	20	and	and	CCONJ
ajeer-220	160	21	solvency	solvency	NOUN
ajeer-220	160	22	ratios	ratio	NOUN
ajeer-220	160	23	to	to	PART
ajeer-220	160	24	investigate	investigate	VERB
ajeer-220	160	25	the	the	DET
ajeer-220	160	26	financial	financial	ADJ
ajeer-220	160	27	performance	performance	NOUN
ajeer-220	160	28	of	of	ADP
ajeer-220	160	29	indian	indian	ADJ
ajeer-220	160	30	acquiring	acquire	VERB
ajeer-220	160	31	companies	company	NOUN
ajeer-220	160	32	using	use	VERB
ajeer-220	160	33	15	15	NUM
ajeer-220	160	34	companies	company	NOUN
ajeer-220	160	35	over	over	ADP
ajeer-220	160	36	the	the	DET
ajeer-220	160	37	period	period	NOUN
ajeer-220	160	38	of	of	ADP
ajeer-220	160	39	four	four	NUM
ajeer-220	160	40	years	year	NOUN
ajeer-220	160	41	i.e.	i.e.	X
ajeer-220	160	42	2005	2005	NUM
ajeer-220	160	43	to	to	ADP
ajeer-220	160	44	2008	2008	NUM
ajeer-220	160	45	.	.	PUNCT
ajeer-220	161	1	therefore	therefore	ADV
ajeer-220	161	2	,	,	PUNCT
ajeer-220	161	3	based	base	VERB
ajeer-220	161	4	on	on	ADP
ajeer-220	161	5	the	the	DET
ajeer-220	161	6	wide	wide	ADJ
ajeer-220	161	7	application	application	NOUN
ajeer-220	161	8	of	of	ADP
ajeer-220	161	9	liquidity	liquidity	NOUN
ajeer-220	161	10	,	,	PUNCT
ajeer-220	161	11	profitability	profitability	NOUN
ajeer-220	161	12	and	and	CCONJ
ajeer-220	161	13	solvency	solvency	NOUN
ajeer-220	161	14	ratios	ratio	NOUN
ajeer-220	161	15	in	in	ADP
ajeer-220	161	16	the	the	DET
ajeer-220	161	17	literature	literature	NOUN
ajeer-220	161	18	of	of	ADP
ajeer-220	161	19	measuring	measure	VERB
ajeer-220	161	20	financial	financial	ADJ
ajeer-220	161	21	performance	performance	NOUN
ajeer-220	161	22	of	of	ADP
ajeer-220	161	23	companies	company	NOUN
ajeer-220	161	24	the	the	DET
ajeer-220	161	25	following	follow	VERB
ajeer-220	161	26	ratios	ratio	NOUN
ajeer-220	161	27	have	have	AUX
ajeer-220	161	28	been	be	AUX
ajeer-220	161	29	selected	select	VERB
ajeer-220	161	30	for	for	ADP
ajeer-220	161	31	this	this	DET
ajeer-220	161	32	study	study	NOUN
ajeer-220	161	33	.	.	PUNCT
ajeer-220	162	1	the	the	DET
ajeer-220	162	2	ratios	ratio	NOUN
ajeer-220	162	3	are	be	AUX
ajeer-220	162	4	explained	explain	VERB
ajeer-220	162	5	as	as	ADP
ajeer-220	162	6	follow	follow	VERB
ajeer-220	162	7	;	;	PUNCT
ajeer-220	162	8	1	1	X
ajeer-220	162	9	.	.	X
ajeer-220	162	10	liquidity	liquidity	NOUN
ajeer-220	162	11	ratio	ratio	NOUN
ajeer-220	162	12	:	:	PUNCT
ajeer-220	162	13	current	current	ADJ
ajeer-220	162	14	assets	asset	NOUN
ajeer-220	162	15	/	/	SYM
ajeer-220	162	16	current	current	ADJ
ajeer-220	162	17	liabilities	liability	NOUN
ajeer-220	162	18	this	this	DET
ajeer-220	162	19	ratio	ratio	NOUN
ajeer-220	162	20	measures	measure	VERB
ajeer-220	162	21	the	the	DET
ajeer-220	162	22	company	company	NOUN
ajeer-220	162	23	’s	’s	PART
ajeer-220	162	24	short	short	ADJ
ajeer-220	162	25	-	-	PUNCT
ajeer-220	162	26	term	term	NOUN
ajeer-220	162	27	assets	asset	NOUN
ajeer-220	162	28	,	,	PUNCT
ajeer-220	162	29	i.e.	i.e.	X
ajeer-220	162	30	cash	cash	NOUN
ajeer-220	162	31	,	,	PUNCT
ajeer-220	162	32	cash	cash	NOUN
ajeer-220	162	33	equivalent	equivalent	NOUN
ajeer-220	162	34	,	,	PUNCT
ajeer-220	162	35	marketable	marketable	ADJ
ajeer-220	162	36	securities	security	NOUN
ajeer-220	162	37	,	,	PUNCT
ajeer-220	162	38	receivables	receivables	NOUN
ajeer-220	162	39	and	and	CCONJ
ajeer-220	162	40	inventory	inventory	NOUN
ajeer-220	162	41	,	,	PUNCT
ajeer-220	162	42	to	to	PART
ajeer-220	162	43	determine	determine	VERB
ajeer-220	162	44	whether	whether	SCONJ
ajeer-220	162	45	the	the	DET
ajeer-220	162	46	company	company	NOUN
ajeer-220	162	47	can	can	AUX
ajeer-220	162	48	meet	meet	VERB
ajeer-220	162	49	its	its	PRON
ajeer-220	162	50	short	short	ADJ
ajeer-220	162	51	-	-	PUNCT
ajeer-220	162	52	term	term	NOUN
ajeer-220	162	53	liabilities	liability	NOUN
ajeer-220	162	54	efficiently	efficiently	ADV
ajeer-220	162	55	.	.	PUNCT
ajeer-220	163	1	the	the	DET
ajeer-220	163	2	higher	high	ADJ
ajeer-220	163	3	ratio	ratio	NOUN
ajeer-220	163	4	exhibit	exhibit	VERB
ajeer-220	163	5	better	well	ADJ
ajeer-220	163	6	liquidity	liquidity	NOUN
ajeer-220	163	7	position	position	NOUN
ajeer-220	163	8	of	of	ADP
ajeer-220	163	9	the	the	DET
ajeer-220	163	10	company	company	NOUN
ajeer-220	163	11	.	.	PUNCT
ajeer-220	164	1	2	2	X
ajeer-220	164	2	.	.	X
ajeer-220	164	3	operating	operate	VERB
ajeer-220	164	4	profit	profit	NOUN
ajeer-220	164	5	ratio	ratio	NOUN
ajeer-220	164	6	:	:	PUNCT
ajeer-220	164	7	operating	operate	VERB
ajeer-220	164	8	profit	profit	NOUN
ajeer-220	164	9	/	/	SYM
ajeer-220	164	10	sales	sale	NOUN
ajeer-220	164	11	this	this	DET
ajeer-220	164	12	ratio	ratio	NOUN
ajeer-220	164	13	measures	measure	VERB
ajeer-220	164	14	the	the	DET
ajeer-220	164	15	level	level	NOUN
ajeer-220	164	16	of	of	ADP
ajeer-220	164	17	a	a	DET
ajeer-220	164	18	company	company	NOUN
ajeer-220	164	19	’s	’s	PART
ajeer-220	164	20	revenue	revenue	NOUN
ajeer-220	164	21	leftover	leftover	PROPN
ajeer-220	164	22	after	after	ADP
ajeer-220	164	23	paying	pay	VERB
ajeer-220	164	24	for	for	ADP
ajeer-220	164	25	variable	variable	ADJ
ajeer-220	164	26	cost	cost	NOUN
ajeer-220	164	27	i.e.	i.e.	X
ajeer-220	164	28	wages	wage	NOUN
ajeer-220	164	29	,	,	PUNCT
ajeer-220	164	30	raw	raw	ADJ
ajeer-220	164	31	materials	material	NOUN
ajeer-220	164	32	etc	etc	X
ajeer-220	164	33	.	.	X
ajeer-220	165	1	a	a	DET
ajeer-220	165	2	higher	high	ADJ
ajeer-220	165	3	operating	operating	NOUN
ajeer-220	165	4	ratio	ratio	NOUN
ajeer-220	165	5	would	would	AUX
ajeer-220	165	6	indicate	indicate	VERB
ajeer-220	165	7	that	that	SCONJ
ajeer-220	165	8	the	the	DET
ajeer-220	165	9	company	company	NOUN
ajeer-220	165	10	is	be	AUX
ajeer-220	165	11	stable	stable	ADJ
ajeer-220	165	12	enough	enough	ADV
ajeer-220	165	13	to	to	PART
ajeer-220	165	14	service	service	VERB
ajeer-220	165	15	its	its	PRON
ajeer-220	165	16	debt	debt	NOUN
ajeer-220	165	17	obligation	obligation	NOUN
ajeer-220	165	18	.	.	PUNCT
ajeer-220	166	1	3	3	X
ajeer-220	166	2	.	.	X
ajeer-220	166	3	debt	debt	NOUN
ajeer-220	166	4	equity	equity	NOUN
ajeer-220	166	5	ratio	ratio	NOUN
ajeer-220	166	6	:	:	PUNCT
ajeer-220	166	7	total	total	ADJ
ajeer-220	166	8	liabilities	liability	NOUN
ajeer-220	166	9	/	/	SYM
ajeer-220	166	10	total	total	ADJ
ajeer-220	166	11	assets	asset	NOUN
ajeer-220	166	12	–	–	PUNCT
ajeer-220	166	13	total	total	ADJ
ajeer-220	166	14	liabilities	liability	NOUN
ajeer-220	166	15	or	or	CCONJ
ajeer-220	166	16	net	net	ADJ
ajeer-220	166	17	assets	asset	NOUN
ajeer-220	166	18	this	this	DET
ajeer-220	166	19	ratio	ratio	NOUN
ajeer-220	166	20	measures	measure	VERB
ajeer-220	166	21	the	the	DET
ajeer-220	166	22	level	level	NOUN
ajeer-220	166	23	of	of	ADP
ajeer-220	166	24	debt	debt	NOUN
ajeer-220	166	25	a	a	DET
ajeer-220	166	26	firm	firm	NOUN
ajeer-220	166	27	has	have	VERB
ajeer-220	166	28	against	against	ADP
ajeer-220	166	29	each	each	DET
ajeer-220	166	30	dollar	dollar	NOUN
ajeer-220	166	31	it	it	PRON
ajeer-220	166	32	owns	own	VERB
ajeer-220	166	33	.	.	PUNCT
ajeer-220	167	1	higher	high	ADJ
ajeer-220	167	2	ratio	ratio	NOUN
ajeer-220	167	3	in	in	ADP
ajeer-220	167	4	this	this	DET
ajeer-220	167	5	instance	instance	NOUN
ajeer-220	167	6	would	would	AUX
ajeer-220	167	7	pose	pose	VERB
ajeer-220	167	8	a	a	DET
ajeer-220	167	9	considerable	considerable	ADJ
ajeer-220	167	10	for	for	ADP
ajeer-220	167	11	an	an	DET
ajeer-220	167	12	organization	organization	NOUN
ajeer-220	167	13	as	as	SCONJ
ajeer-220	167	14	it	it	PRON
ajeer-220	167	15	would	would	AUX
ajeer-220	167	16	be	be	AUX
ajeer-220	167	17	burdened	burden	VERB
ajeer-220	167	18	with	with	ADP
ajeer-220	167	19	greater	great	ADJ
ajeer-220	167	20	amount	amount	NOUN
ajeer-220	167	21	of	of	ADP
ajeer-220	167	22	debt	debt	NOUN
ajeer-220	167	23	than	than	SCONJ
ajeer-220	167	24	which	which	PRON
ajeer-220	167	25	can	can	AUX
ajeer-220	167	26	be	be	AUX
ajeer-220	167	27	viewed	view	VERB
ajeer-220	167	28	as	as	ADP
ajeer-220	167	29	unsustainable	unsustainable	ADJ
ajeer-220	167	30	in	in	ADP
ajeer-220	167	31	the	the	DET
ajeer-220	167	32	eyes	eye	NOUN
ajeer-220	167	33	of	of	ADP
ajeer-220	167	34	lenders	lender	NOUN
ajeer-220	167	35	.	.	PUNCT
ajeer-220	168	1	4	4	X
ajeer-220	168	2	.	.	X
ajeer-220	168	3	net	net	ADJ
ajeer-220	168	4	profit	profit	NOUN
ajeer-220	168	5	:	:	PUNCT
ajeer-220	168	6	profit	profit	NOUN
ajeer-220	168	7	after	after	ADP
ajeer-220	168	8	tax	tax	NOUN
ajeer-220	168	9	/	/	SYM
ajeer-220	168	10	sales	sale	NOUN
ajeer-220	168	11	this	this	DET
ajeer-220	168	12	ratio	ratio	NOUN
ajeer-220	168	13	measures	measure	VERB
ajeer-220	168	14	the	the	DET
ajeer-220	168	15	percentage	percentage	NOUN
ajeer-220	168	16	of	of	ADP
ajeer-220	168	17	money	money	NOUN
ajeer-220	168	18	a	a	DET
ajeer-220	168	19	company	company	NOUN
ajeer-220	168	20	actually	actually	ADV
ajeer-220	168	21	earns	earn	VERB
ajeer-220	168	22	per	per	ADP
ajeer-220	168	23	dollar	dollar	NOUN
ajeer-220	168	24	of	of	ADP
ajeer-220	168	25	sales	sale	NOUN
ajeer-220	168	26	.	.	PUNCT
ajeer-220	169	1	the	the	DET
ajeer-220	169	2	higher	high	ADJ
ajeer-220	169	3	ratio	ratio	NOUN
ajeer-220	169	4	would	would	AUX
ajeer-220	169	5	indicate	indicate	VERB
ajeer-220	169	6	that	that	SCONJ
ajeer-220	169	7	the	the	DET
ajeer-220	169	8	company	company	NOUN
ajeer-220	169	9	has	have	VERB
ajeer-220	169	10	good	good	ADJ
ajeer-220	169	11	cost	cost	NOUN
ajeer-220	169	12	management	management	NOUN
ajeer-220	169	13	in	in	ADP
ajeer-220	169	14	place	place	NOUN
ajeer-220	169	15	that	that	PRON
ajeer-220	169	16	results	result	VERB
ajeer-220	169	17	in	in	ADP
ajeer-220	169	18	higher	high	ADJ
ajeer-220	169	19	net	net	ADJ
ajeer-220	169	20	earnings	earning	NOUN
ajeer-220	169	21	.	.	PUNCT
ajeer-220	170	1	5	5	X
ajeer-220	170	2	.	.	X
ajeer-220	170	3	ronw	ronw	NOUN
ajeer-220	170	4	(	(	PUNCT
ajeer-220	170	5	return	return	VERB
ajeer-220	170	6	on	on	ADP
ajeer-220	170	7	net	net	ADJ
ajeer-220	170	8	worth	worth	NOUN
ajeer-220	170	9	):	):	PUNCT
ajeer-220	170	10	profit	profit	NOUN
ajeer-220	170	11	after	after	ADP
ajeer-220	170	12	tax	tax	NOUN
ajeer-220	170	13	or	or	CCONJ
ajeer-220	170	14	net	net	ADJ
ajeer-220	170	15	income	income	NOUN
ajeer-220	170	16	/	/	SYM
ajeer-220	170	17	equity	equity	NOUN
ajeer-220	170	18	this	this	DET
ajeer-220	170	19	ratio	ratio	NOUN
ajeer-220	170	20	measures	measure	VERB
ajeer-220	170	21	the	the	DET
ajeer-220	170	22	firm	firm	NOUN
ajeer-220	170	23	’s	’s	PART
ajeer-220	170	24	profitability	profitability	NOUN
ajeer-220	170	25	by	by	ADP
ajeer-220	170	26	revealing	reveal	VERB
ajeer-220	170	27	the	the	DET
ajeer-220	170	28	extent	extent	NOUN
ajeer-220	170	29	of	of	ADP
ajeer-220	170	30	profit	profit	NOUN
ajeer-220	170	31	the	the	DET
ajeer-220	170	32	company	company	NOUN
ajeer-220	170	33	generates	generate	VERB
ajeer-220	170	34	by	by	ADP
ajeer-220	170	35	deploying	deploy	VERB
ajeer-220	170	36	shareholders	shareholder	NOUN
ajeer-220	170	37	’	'	PUNCT
ajeer-220	170	38	equity	equity	NOUN
ajeer-220	170	39	.	.	PUNCT
ajeer-220	171	1	the	the	DET
ajeer-220	171	2	higher	high	ADJ
ajeer-220	171	3	ratio	ratio	NOUN
ajeer-220	171	4	would	would	AUX
ajeer-220	171	5	indicate	indicate	VERB
ajeer-220	171	6	that	that	DET
ajeer-220	171	7	company	company	NOUN
ajeer-220	171	8	has	have	AUX
ajeer-220	171	9	efficiently	efficiently	ADV
ajeer-220	171	10	deployed	deploy	VERB
ajeer-220	171	11	its	its	PRON
ajeer-220	171	12	resources	resource	NOUN
ajeer-220	171	13	to	to	PART
ajeer-220	171	14	generate	generate	VERB
ajeer-220	171	15	more	more	ADJ
ajeer-220	171	16	income	income	NOUN
ajeer-220	171	17	.	.	PUNCT
ajeer-220	172	1	financial	financial	ADJ
ajeer-220	172	2	ratios	ratio	NOUN
ajeer-220	172	3	have	have	AUX
ajeer-220	172	4	been	be	AUX
ajeer-220	172	5	used	use	VERB
ajeer-220	172	6	extensively	extensively	ADV
ajeer-220	172	7	in	in	ADP
ajeer-220	172	8	the	the	DET
ajeer-220	172	9	literature	literature	NOUN
ajeer-220	172	10	mainly	mainly	ADV
ajeer-220	172	11	to	to	AUX
ajeer-220	172	12	measure	measure	VERB
ajeer-220	172	13	firms	firm	NOUN
ajeer-220	172	14	’	'	PUNCT
ajeer-220	172	15	financial	financial	ADJ
ajeer-220	172	16	performance	performance	NOUN
ajeer-220	172	17	such	such	ADJ
ajeer-220	172	18	as	as	ADP
ajeer-220	172	19	samad	samad	PROPN
ajeer-220	172	20	and	and	CCONJ
ajeer-220	172	21	hassan	hassan	PROPN
ajeer-220	172	22	(	(	PUNCT
ajeer-220	172	23	1999	1999	NUM
ajeer-220	172	24	)	)	PUNCT
ajeer-220	172	25	used	use	VERB
ajeer-220	172	26	financial	financial	ADJ
ajeer-220	172	27	ratios	ratio	NOUN
ajeer-220	172	28	to	to	PART
ajeer-220	172	29	measure	measure	VERB
ajeer-220	172	30	the	the	DET
ajeer-220	172	31	financial	financial	ADJ
ajeer-220	172	32	performance	performance	NOUN
ajeer-220	172	33	of	of	ADP
ajeer-220	172	34	malaysian	malaysian	ADJ
ajeer-220	172	35	banks	bank	NOUN
ajeer-220	172	36	.	.	PUNCT
ajeer-220	173	1	in	in	ADP
ajeer-220	173	2	the	the	DET
ajeer-220	173	3	context	context	NOUN
ajeer-220	173	4	of	of	ADP
ajeer-220	173	5	merger	merger	NOUN
ajeer-220	173	6	and	and	CCONJ
ajeer-220	173	7	acquisition	acquisition	NOUN
ajeer-220	173	8	singla	singla	PROPN
ajeer-220	173	9	et	et	PROPN
ajeer-220	173	10	al	al	PROPN
ajeer-220	173	11	.	.	PROPN
ajeer-220	174	1	(	(	PUNCT
ajeer-220	174	2	2012	2012	NUM
ajeer-220	174	3	)	)	PUNCT
ajeer-220	174	4	have	have	AUX
ajeer-220	174	5	used	use	VERB
ajeer-220	174	6	financial	financial	ADJ
ajeer-220	174	7	ratios	ratio	NOUN
ajeer-220	174	8	to	to	PART
ajeer-220	174	9	determine	determine	VERB
ajeer-220	174	10	indian	indian	ADJ
ajeer-220	174	11	companies	company	NOUN
ajeer-220	174	12	’	’	PART
ajeer-220	174	13	financial	financial	ADJ
ajeer-220	174	14	performance	performance	NOUN
ajeer-220	174	15	both	both	CCONJ
ajeer-220	174	16	in	in	ADP
ajeer-220	174	17	pre	pre	ADJ
ajeer-220	174	18	-	-	NOUN
ajeer-220	174	19	merger	merger	ADJ
ajeer-220	174	20	and	and	CCONJ
ajeer-220	174	21	post	post	ADJ
ajeer-220	174	22	-	-	ADJ
ajeer-220	174	23	merger	merger	ADJ
ajeer-220	174	24	periods	period	NOUN
ajeer-220	174	25	.	.	PUNCT
ajeer-220	175	1	in	in	ADP
ajeer-220	175	2	order	order	NOUN
ajeer-220	175	3	to	to	PART
ajeer-220	175	4	test	test	VERB
ajeer-220	175	5	the	the	DET
ajeer-220	175	6	second	second	ADJ
ajeer-220	175	7	hypothesis	hypothesis	NOUN
ajeer-220	175	8	,	,	PUNCT
ajeer-220	175	9	event	event	NOUN
ajeer-220	175	10	methodology	methodology	NOUN
ajeer-220	175	11	has	have	AUX
ajeer-220	175	12	been	be	AUX
ajeer-220	175	13	applied	apply	VERB
ajeer-220	175	14	.	.	PUNCT
ajeer-220	176	1	this	this	PRON
ajeer-220	176	2	will	will	AUX
ajeer-220	176	3	measure	measure	VERB
ajeer-220	176	4	the	the	DET
ajeer-220	176	5	reaction	reaction	NOUN
ajeer-220	176	6	of	of	ADP
ajeer-220	176	7	acquirer	acquirer	NOUN
ajeer-220	176	8	’s	’s	PART
ajeer-220	176	9	companies	company	NOUN
ajeer-220	176	10	stocks	stock	NOUN
ajeer-220	176	11	to	to	ADP
ajeer-220	176	12	the	the	DET
ajeer-220	176	13	announcement	announcement	NOUN
ajeer-220	176	14	of	of	ADP
ajeer-220	176	15	merger	merger	NOUN
ajeer-220	176	16	activities	activity	NOUN
ajeer-220	176	17	in	in	ADP
ajeer-220	176	18	order	order	NOUN
ajeer-220	176	19	to	to	PART
ajeer-220	176	20	determine	determine	VERB
ajeer-220	176	21	whether	whether	SCONJ
ajeer-220	176	22	abnormal	abnormal	ADJ
ajeer-220	176	23	return	return	NOUN
ajeer-220	176	24	can	can	AUX
ajeer-220	176	25	be	be	AUX
ajeer-220	176	26	gained	gain	VERB
ajeer-220	176	27	or	or	CCONJ
ajeer-220	176	28	not	not	PART
ajeer-220	176	29	.	.	PUNCT
ajeer-220	177	1	the	the	DET
ajeer-220	177	2	following	follow	VERB
ajeer-220	177	3	equation	equation	NOUN
ajeer-220	177	4	is	be	AUX
ajeer-220	177	5	being	be	AUX
ajeer-220	177	6	used	use	VERB
ajeer-220	177	7	;	;	PUNCT
ajeer-220	177	8	art	art	NOUN
ajeer-220	177	9	=	=	SYM
ajeer-220	177	10	rt	rt	PROPN
ajeer-220	177	11	–	–	PUNCT
ajeer-220	177	12	e(rt	e(rt	PROPN
ajeer-220	177	13	)	)	PUNCT
ajeer-220	177	14	(	(	PUNCT
ajeer-220	177	15	1	1	X
ajeer-220	177	16	)	)	PUNCT
ajeer-220	177	17	where	where	SCONJ
ajeer-220	177	18	t	t	NOUN
ajeer-220	177	19	=	=	SYM
ajeer-220	177	20	day	day	NOUN
ajeer-220	177	21	relative	relative	ADJ
ajeer-220	177	22	to	to	ADP
ajeer-220	177	23	an	an	DET
ajeer-220	177	24	event	event	NOUN
ajeer-220	177	25	,	,	PUNCT
ajeer-220	177	26	art	art	NOUN
ajeer-220	177	27	=	=	SYM
ajeer-220	177	28	abnormal	abnormal	ADJ
ajeer-220	177	29	return	return	NOUN
ajeer-220	177	30	on	on	ADP
ajeer-220	177	31	the	the	DET
ajeer-220	177	32	stocks	stock	NOUN
ajeer-220	177	33	for	for	ADP
ajeer-220	177	34	the	the	DET
ajeer-220	177	35	day	day	NOUN
ajeer-220	177	36	t	t	PROPN
ajeer-220	177	37	,	,	PUNCT
ajeer-220	177	38	rt	rt	NOUN
ajeer-220	177	39	=	=	PUNCT
ajeer-220	177	40	actual	actual	ADJ
ajeer-220	177	41	return	return	NOUN
ajeer-220	177	42	on	on	ADP
ajeer-220	177	43	the	the	DET
ajeer-220	177	44	security	security	NOUN
ajeer-220	177	45	for	for	ADP
ajeer-220	177	46	the	the	DET
ajeer-220	177	47	day	day	NOUN
ajeer-220	177	48	,	,	PUNCT
ajeer-220	177	49	e(rt	e(rt	PROPN
ajeer-220	177	50	)	)	PUNCT
ajeer-220	177	51	=	=	VERB
ajeer-220	178	1	estimated	estimate	VERB
ajeer-220	178	2	rate	rate	NOUN
ajeer-220	178	3	of	of	ADP
ajeer-220	178	4	return	return	NOUN
ajeer-220	178	5	on	on	ADP
ajeer-220	178	6	the	the	DET
ajeer-220	178	7	security	security	NOUN
ajeer-220	178	8	for	for	ADP
ajeer-220	178	9	the	the	DET
ajeer-220	178	10	day	day	NOUN
ajeer-220	178	11	t.	t.	NOUN
ajeer-220	178	12	in	in	ADP
ajeer-220	178	13	order	order	NOUN
ajeer-220	178	14	to	to	PART
ajeer-220	178	15	calculate	calculate	VERB
ajeer-220	178	16	the	the	DET
ajeer-220	178	17	estimated	estimate	VERB
ajeer-220	178	18	asian	asian	ADJ
ajeer-220	178	19	journal	journal	NOUN
ajeer-220	178	20	of	of	ADP
ajeer-220	178	21	economics	economic	NOUN
ajeer-220	178	22	and	and	CCONJ
ajeer-220	178	23	empirical	empirical	ADJ
ajeer-220	178	24	research	research	NOUN
ajeer-220	178	25	,	,	PUNCT
ajeer-220	178	26	2016	2016	NUM
ajeer-220	178	27	,	,	PUNCT
ajeer-220	178	28	3(2):130	3(2):130	NUM
ajeer-220	178	29	-	-	SYM
ajeer-220	178	30	138	138	NUM
ajeer-220	178	31	135	135	NUM
ajeer-220	178	32	rate	rate	NOUN
ajeer-220	178	33	of	of	ADP
ajeer-220	178	34	return	return	NOUN
ajeer-220	178	35	of	of	ADP
ajeer-220	178	36	the	the	DET
ajeer-220	178	37	security	security	NOUN
ajeer-220	178	38	capital	capital	NOUN
ajeer-220	178	39	asset	asset	NOUN
ajeer-220	178	40	pricing	pricing	NOUN
ajeer-220	178	41	model	model	NOUN
ajeer-220	178	42	(	(	PUNCT
ajeer-220	178	43	capm	capm	PROPN
ajeer-220	178	44	)	)	PUNCT
ajeer-220	178	45	is	be	AUX
ajeer-220	178	46	being	be	AUX
ajeer-220	178	47	used	use	VERB
ajeer-220	178	48	where	where	SCONJ
ajeer-220	178	49	a	a	DET
ajeer-220	178	50	period	period	NOUN
ajeer-220	178	51	of	of	ADP
ajeer-220	178	52	180	180	NUM
ajeer-220	178	53	days	day	NOUN
ajeer-220	178	54	prior	prior	ADV
ajeer-220	178	55	to	to	ADP
ajeer-220	178	56	the	the	DET
ajeer-220	178	57	event	event	NOUN
ajeer-220	178	58	window	window	NOUN
ajeer-220	178	59	is	be	AUX
ajeer-220	178	60	used	use	VERB
ajeer-220	178	61	for	for	ADP
ajeer-220	178	62	estimating	estimate	VERB
ajeer-220	178	63	the	the	DET
ajeer-220	178	64	stocks	stock	NOUN
ajeer-220	178	65	’	'	PUNCT
ajeer-220	178	66	beta	beta	NOUN
ajeer-220	178	67	.	.	PUNCT
ajeer-220	179	1	using	use	VERB
ajeer-220	179	2	the	the	DET
ajeer-220	179	3	equation	equation	NOUN
ajeer-220	179	4	(	(	PUNCT
ajeer-220	179	5	1	1	NUM
ajeer-220	179	6	)	)	PUNCT
ajeer-220	179	7	,	,	PUNCT
ajeer-220	179	8	the	the	DET
ajeer-220	179	9	abnormal	abnormal	ADJ
ajeer-220	179	10	return	return	NOUN
ajeer-220	179	11	for	for	ADP
ajeer-220	179	12	all	all	DET
ajeer-220	179	13	the	the	DET
ajeer-220	179	14	20	20	NUM
ajeer-220	179	15	acquiring	acquire	VERB
ajeer-220	179	16	firms	firm	NOUN
ajeer-220	179	17	has	have	AUX
ajeer-220	179	18	been	be	AUX
ajeer-220	179	19	computed	compute	VERB
ajeer-220	179	20	for	for	ADP
ajeer-220	179	21	58	58	NUM
ajeer-220	179	22	days	day	NOUN
ajeer-220	179	23	window	window	NOUN
ajeer-220	179	24	period	period	NOUN
ajeer-220	179	25	i.e.	i.e.	X
ajeer-220	179	26	29	29	NUM
ajeer-220	179	27	days	day	NOUN
ajeer-220	179	28	prior	prior	ADV
ajeer-220	179	29	to	to	ADP
ajeer-220	179	30	the	the	DET
ajeer-220	179	31	acquisition	acquisition	NOUN
ajeer-220	179	32	announcement	announcement	NOUN
ajeer-220	179	33	date	date	NOUN
ajeer-220	179	34	and	and	CCONJ
ajeer-220	179	35	29	29	NUM
ajeer-220	179	36	days	day	NOUN
ajeer-220	179	37	after	after	ADP
ajeer-220	179	38	the	the	DET
ajeer-220	179	39	acquisition	acquisition	NOUN
ajeer-220	179	40	announcement	announcement	NOUN
ajeer-220	179	41	date	date	NOUN
ajeer-220	179	42	.	.	PUNCT
ajeer-220	180	1	the	the	DET
ajeer-220	180	2	abnormal	abnormal	ADJ
ajeer-220	180	3	return	return	NOUN
ajeer-220	180	4	has	have	AUX
ajeer-220	180	5	been	be	AUX
ajeer-220	180	6	summed	sum	VERB
ajeer-220	180	7	up	up	ADP
ajeer-220	180	8	for	for	ADP
ajeer-220	180	9	each	each	DET
ajeer-220	180	10	day	day	NOUN
ajeer-220	180	11	in	in	ADP
ajeer-220	180	12	order	order	NOUN
ajeer-220	180	13	to	to	PART
ajeer-220	180	14	determine	determine	VERB
ajeer-220	180	15	the	the	DET
ajeer-220	180	16	pattern	pattern	NOUN
ajeer-220	180	17	of	of	ADP
ajeer-220	180	18	cumulative	cumulative	ADJ
ajeer-220	180	19	average	average	ADJ
ajeer-220	180	20	abnormal	abnormal	ADJ
ajeer-220	180	21	return	return	NOUN
ajeer-220	180	22	(	(	PUNCT
ajeer-220	180	23	caar	caar	NOUN
ajeer-220	180	24	)	)	PUNCT
ajeer-220	180	25	.	.	PUNCT
ajeer-220	181	1	6	6	X
ajeer-220	181	2	.	.	X
ajeer-220	181	3	empirical	empirical	ADJ
ajeer-220	181	4	analysis	analysis	NOUN
ajeer-220	181	5	the	the	DET
ajeer-220	181	6	analysis	analysis	NOUN
ajeer-220	181	7	of	of	ADP
ajeer-220	181	8	prominent	prominent	ADJ
ajeer-220	181	9	financial	financial	ADJ
ajeer-220	181	10	ratios	ratio	NOUN
ajeer-220	181	11	(	(	PUNCT
ajeer-220	181	12	see	see	VERB
ajeer-220	181	13	table	table	NOUN
ajeer-220	181	14	4.1	4.1	NUM
ajeer-220	181	15	)	)	PUNCT
ajeer-220	181	16	i.e.	i.e.	X
ajeer-220	181	17	liquidity	liquidity	NOUN
ajeer-220	181	18	,	,	PUNCT
ajeer-220	181	19	profitability	profitability	NOUN
ajeer-220	181	20	and	and	CCONJ
ajeer-220	181	21	solvency	solvency	NOUN
ajeer-220	181	22	ratios	ratio	NOUN
ajeer-220	181	23	indicate	indicate	VERB
ajeer-220	181	24	no	no	DET
ajeer-220	181	25	statistical	statistical	ADJ
ajeer-220	181	26	significance	significance	NOUN
ajeer-220	181	27	both	both	CCONJ
ajeer-220	181	28	in	in	ADP
ajeer-220	181	29	the	the	DET
ajeer-220	181	30	pre	pre	NOUN
ajeer-220	181	31	-	-	NOUN
ajeer-220	181	32	merger	merger	ADJ
ajeer-220	181	33	and	and	CCONJ
ajeer-220	181	34	post	post	ADJ
ajeer-220	181	35	-	-	ADJ
ajeer-220	181	36	merger	merger	ADJ
ajeer-220	181	37	periods	period	NOUN
ajeer-220	181	38	.	.	PUNCT
ajeer-220	182	1	in	in	ADP
ajeer-220	182	2	order	order	NOUN
ajeer-220	182	3	to	to	PART
ajeer-220	182	4	nullify	nullify	VERB
ajeer-220	182	5	the	the	DET
ajeer-220	182	6	effect	effect	NOUN
ajeer-220	182	7	of	of	ADP
ajeer-220	182	8	other	other	ADJ
ajeer-220	182	9	factors	factor	NOUN
ajeer-220	182	10	,	,	PUNCT
ajeer-220	182	11	although	although	SCONJ
ajeer-220	182	12	can	can	AUX
ajeer-220	182	13	not	not	PART
ajeer-220	182	14	be	be	AUX
ajeer-220	182	15	ruled	rule	VERB
ajeer-220	182	16	out	out	ADP
ajeer-220	182	17	entirely	entirely	ADV
ajeer-220	182	18	,	,	PUNCT
ajeer-220	182	19	in	in	ADP
ajeer-220	182	20	the	the	DET
ajeer-220	182	21	industry	industry	NOUN
ajeer-220	182	22	the	the	DET
ajeer-220	182	23	ratios	ratio	NOUN
ajeer-220	182	24	are	be	AUX
ajeer-220	182	25	averaged	average	VERB
ajeer-220	182	26	two	two	NUM
ajeer-220	182	27	years	year	NOUN
ajeer-220	182	28	before	before	ADP
ajeer-220	182	29	the	the	DET
ajeer-220	182	30	merger	merger	NOUN
ajeer-220	182	31	/	/	SYM
ajeer-220	182	32	acquisition	acquisition	NOUN
ajeer-220	182	33	and	and	CCONJ
ajeer-220	182	34	two	two	NUM
ajeer-220	182	35	years	year	NOUN
ajeer-220	182	36	after	after	ADP
ajeer-220	182	37	the	the	DET
ajeer-220	182	38	merger	merger	NOUN
ajeer-220	182	39	/	/	SYM
ajeer-220	182	40	acquisition	acquisition	NOUN
ajeer-220	182	41	.	.	PUNCT
ajeer-220	183	1	the	the	DET
ajeer-220	183	2	five	five	NUM
ajeer-220	183	3	ratios	ratio	NOUN
ajeer-220	183	4	show	show	VERB
ajeer-220	183	5	no	no	DET
ajeer-220	183	6	statistical	statistical	ADJ
ajeer-220	183	7	significance	significance	NOUN
ajeer-220	183	8	in	in	ADP
ajeer-220	183	9	any	any	PRON
ajeer-220	183	10	of	of	ADP
ajeer-220	183	11	the	the	DET
ajeer-220	183	12	periods	period	NOUN
ajeer-220	183	13	thus	thus	ADV
ajeer-220	183	14	it	it	PRON
ajeer-220	183	15	all	all	PRON
ajeer-220	183	16	leads	lead	VERB
ajeer-220	183	17	to	to	ADP
ajeer-220	183	18	the	the	DET
ajeer-220	183	19	acceptance	acceptance	NOUN
ajeer-220	183	20	of	of	ADP
ajeer-220	183	21	first	first	ADJ
ajeer-220	183	22	null	null	ADJ
ajeer-220	183	23	hypothesis	hypothesis	NOUN
ajeer-220	183	24	that	that	SCONJ
ajeer-220	183	25	the	the	DET
ajeer-220	183	26	post	post	NOUN
ajeer-220	183	27	-	-	ADJ
ajeer-220	183	28	merger	merger	ADJ
ajeer-220	183	29	/	/	SYM
ajeer-220	183	30	acquisition	acquisition	NOUN
ajeer-220	183	31	financial	financial	ADJ
ajeer-220	183	32	performance	performance	NOUN
ajeer-220	183	33	of	of	ADP
ajeer-220	183	34	the	the	DET
ajeer-220	183	35	uk	uk	PROPN
ajeer-220	183	36	acquiring	acquire	VERB
ajeer-220	183	37	companies	company	NOUN
ajeer-220	183	38	is	be	AUX
ajeer-220	183	39	not	not	PART
ajeer-220	183	40	significantly	significantly	ADV
ajeer-220	183	41	different	different	ADJ
ajeer-220	183	42	from	from	ADP
ajeer-220	183	43	pre	pre	ADJ
ajeer-220	183	44	-	-	ADJ
ajeer-220	183	45	merger	merger	ADJ
ajeer-220	183	46	/	/	SYM
ajeer-220	183	47	acquisition	acquisition	NOUN
ajeer-220	183	48	financial	financial	ADJ
ajeer-220	183	49	performance	performance	NOUN
ajeer-220	183	50	.	.	PUNCT
ajeer-220	184	1	the	the	DET
ajeer-220	184	2	results	result	NOUN
ajeer-220	184	3	are	be	AUX
ajeer-220	184	4	consistent	consistent	ADJ
ajeer-220	184	5	with	with	ADP
ajeer-220	184	6	findings	finding	NOUN
ajeer-220	184	7	of	of	ADP
ajeer-220	184	8	singla	singla	PROPN
ajeer-220	184	9	et	et	PROPN
ajeer-220	184	10	al	al	PROPN
ajeer-220	184	11	.	.	PROPN
ajeer-220	185	1	(	(	PUNCT
ajeer-220	185	2	2012	2012	NUM
ajeer-220	185	3	)	)	PUNCT
ajeer-220	185	4	who	who	PRON
ajeer-220	185	5	,	,	PUNCT
ajeer-220	185	6	in	in	ADP
ajeer-220	185	7	the	the	DET
ajeer-220	185	8	context	context	NOUN
ajeer-220	185	9	of	of	ADP
ajeer-220	185	10	indian	indian	ADJ
ajeer-220	185	11	acquiring	acquire	VERB
ajeer-220	185	12	companies	company	NOUN
ajeer-220	185	13	,	,	PUNCT
ajeer-220	185	14	found	find	VERB
ajeer-220	185	15	that	that	SCONJ
ajeer-220	185	16	none	none	NOUN
ajeer-220	185	17	of	of	ADP
ajeer-220	185	18	the	the	DET
ajeer-220	185	19	financial	financial	ADJ
ajeer-220	185	20	ratios	ratio	NOUN
ajeer-220	185	21	showed	show	VERB
ajeer-220	185	22	statistical	statistical	ADJ
ajeer-220	185	23	significance	significance	NOUN
ajeer-220	185	24	in	in	ADP
ajeer-220	185	25	the	the	DET
ajeer-220	185	26	both	both	PRON
ajeer-220	185	27	pre	pre	ADJ
ajeer-220	185	28	and	and	CCONJ
ajeer-220	185	29	post	post	ADJ
ajeer-220	185	30	-	-	ADJ
ajeer-220	185	31	merger	merger	ADJ
ajeer-220	185	32	periods	period	NOUN
ajeer-220	185	33	.	.	PUNCT
ajeer-220	186	1	moreover	moreover	ADV
ajeer-220	186	2	,	,	PUNCT
ajeer-220	186	3	the	the	DET
ajeer-220	186	4	analysis	analysis	NOUN
ajeer-220	186	5	of	of	ADP
ajeer-220	186	6	individual	individual	ADJ
ajeer-220	186	7	companies	company	NOUN
ajeer-220	186	8	ratios	ratio	VERB
ajeer-220	186	9	on	on	ADP
ajeer-220	186	10	yearly	yearly	ADJ
ajeer-220	186	11	and	and	CCONJ
ajeer-220	186	12	two	two	NUM
ajeer-220	186	13	yearly	yearly	ADJ
ajeer-220	186	14	bases	basis	NOUN
ajeer-220	186	15	,	,	PUNCT
ajeer-220	186	16	both	both	CCONJ
ajeer-220	186	17	in	in	ADP
ajeer-220	186	18	the	the	DET
ajeer-220	186	19	pre	pre	NOUN
ajeer-220	186	20	-	-	NOUN
ajeer-220	186	21	merger	merger	ADJ
ajeer-220	186	22	and	and	CCONJ
ajeer-220	186	23	post	post	ADJ
ajeer-220	186	24	-	-	ADJ
ajeer-220	186	25	merger	merger	ADJ
ajeer-220	186	26	periods	period	NOUN
ajeer-220	186	27	,	,	PUNCT
ajeer-220	186	28	also	also	ADV
ajeer-220	186	29	reveals	reveal	VERB
ajeer-220	186	30	no	no	DET
ajeer-220	186	31	significant	significant	ADJ
ajeer-220	186	32	financial	financial	ADJ
ajeer-220	186	33	performance	performance	NOUN
ajeer-220	186	34	thus	thus	ADV
ajeer-220	186	35	it	it	PRON
ajeer-220	186	36	can	can	AUX
ajeer-220	186	37	be	be	AUX
ajeer-220	186	38	concluded	conclude	VERB
ajeer-220	186	39	that	that	SCONJ
ajeer-220	186	40	no	no	DET
ajeer-220	186	41	abnormalities	abnormality	NOUN
ajeer-220	186	42	has	have	AUX
ajeer-220	186	43	been	be	AUX
ajeer-220	186	44	observed	observe	VERB
ajeer-220	186	45	in	in	ADP
ajeer-220	186	46	the	the	DET
ajeer-220	186	47	financial	financial	ADJ
ajeer-220	186	48	performance	performance	NOUN
ajeer-220	186	49	of	of	ADP
ajeer-220	186	50	the	the	DET
ajeer-220	186	51	acquiring	acquire	VERB
ajeer-220	186	52	companies	company	NOUN
ajeer-220	186	53	as	as	ADP
ajeer-220	186	54	a	a	DET
ajeer-220	186	55	result	result	NOUN
ajeer-220	186	56	of	of	ADP
ajeer-220	186	57	merger	merger	NOUN
ajeer-220	186	58	/	/	SYM
ajeer-220	186	59	acquisition	acquisition	NOUN
ajeer-220	186	60	announcement	announcement	NOUN
ajeer-220	186	61	.	.	PUNCT
ajeer-220	187	1	the	the	DET
ajeer-220	187	2	average	average	ADJ
ajeer-220	187	3	liquidity	liquidity	NOUN
ajeer-220	187	4	ratio	ratio	NOUN
ajeer-220	187	5	shows	show	VERB
ajeer-220	187	6	almost	almost	ADV
ajeer-220	187	7	equal	equal	ADJ
ajeer-220	187	8	position	position	NOUN
ajeer-220	187	9	in	in	ADP
ajeer-220	187	10	the	the	DET
ajeer-220	187	11	two	two	NUM
ajeer-220	187	12	years	year	NOUN
ajeer-220	187	13	before	before	ADP
ajeer-220	187	14	and	and	CCONJ
ajeer-220	187	15	two	two	NUM
ajeer-220	187	16	years	year	NOUN
ajeer-220	187	17	after	after	ADP
ajeer-220	187	18	the	the	DET
ajeer-220	187	19	m&as	m&as	PROPN
ajeer-220	187	20	activities	activity	NOUN
ajeer-220	187	21	.	.	PUNCT
ajeer-220	188	1	this	this	PRON
ajeer-220	188	2	shows	show	VERB
ajeer-220	188	3	that	that	SCONJ
ajeer-220	188	4	acquiring	acquire	VERB
ajeer-220	188	5	firms	firm	NOUN
ajeer-220	188	6	’	'	PUNCT
ajeer-220	188	7	liquidity	liquidity	NOUN
ajeer-220	188	8	position	position	NOUN
ajeer-220	188	9	has	have	AUX
ajeer-220	188	10	not	not	PART
ajeer-220	188	11	been	be	AUX
ajeer-220	188	12	affected	affect	VERB
ajeer-220	188	13	by	by	ADP
ajeer-220	188	14	the	the	DET
ajeer-220	188	15	underlying	underlie	VERB
ajeer-220	188	16	mergers	merger	NOUN
ajeer-220	188	17	and	and	CCONJ
ajeer-220	188	18	acquisitions	acquisition	NOUN
ajeer-220	188	19	activities	activity	NOUN
ajeer-220	188	20	.	.	PUNCT
ajeer-220	189	1	moreover	moreover	ADV
ajeer-220	189	2	,	,	PUNCT
ajeer-220	189	3	debt	debt	NOUN
ajeer-220	189	4	to	to	ADP
ajeer-220	189	5	equity	equity	NOUN
ajeer-220	189	6	ratio	ratio	NOUN
ajeer-220	189	7	showed	show	VERB
ajeer-220	189	8	exactly	exactly	ADV
ajeer-220	189	9	the	the	DET
ajeer-220	189	10	same	same	ADJ
ajeer-220	189	11	pattern	pattern	NOUN
ajeer-220	189	12	in	in	ADP
ajeer-220	189	13	the	the	DET
ajeer-220	189	14	two	two	NUM
ajeer-220	189	15	years	year	NOUN
ajeer-220	189	16	before	before	ADP
ajeer-220	189	17	and	and	CCONJ
ajeer-220	189	18	after	after	ADP
ajeer-220	189	19	the	the	DET
ajeer-220	189	20	acquisition	acquisition	NOUN
ajeer-220	189	21	.	.	PUNCT
ajeer-220	190	1	similarly	similarly	ADV
ajeer-220	190	2	,	,	PUNCT
ajeer-220	190	3	operating	operate	VERB
ajeer-220	190	4	profit	profit	NOUN
ajeer-220	190	5	ratio	ratio	NOUN
ajeer-220	190	6	followed	follow	VERB
ajeer-220	190	7	the	the	DET
ajeer-220	190	8	same	same	ADJ
ajeer-220	190	9	pattern	pattern	NOUN
ajeer-220	190	10	,	,	PUNCT
ajeer-220	190	11	however	however	ADV
ajeer-220	190	12	,	,	PUNCT
ajeer-220	190	13	net	net	ADJ
ajeer-220	190	14	profit	profit	NOUN
ajeer-220	190	15	ratio	ratio	NOUN
ajeer-220	190	16	declined	decline	VERB
ajeer-220	190	17	slightly	slightly	ADV
ajeer-220	190	18	in	in	ADP
ajeer-220	190	19	the	the	DET
ajeer-220	190	20	two	two	NUM
ajeer-220	190	21	years	year	NOUN
ajeer-220	190	22	after	after	ADP
ajeer-220	190	23	the	the	DET
ajeer-220	190	24	acquisition	acquisition	NOUN
ajeer-220	190	25	which	which	PRON
ajeer-220	190	26	can	can	AUX
ajeer-220	190	27	be	be	AUX
ajeer-220	190	28	contributable	contributable	ADJ
ajeer-220	190	29	to	to	ADP
ajeer-220	190	30	the	the	DET
ajeer-220	190	31	relative	relative	ADJ
ajeer-220	190	32	rise	rise	NOUN
ajeer-220	190	33	in	in	ADP
ajeer-220	190	34	expenses	expense	NOUN
ajeer-220	190	35	as	as	ADP
ajeer-220	190	36	a	a	DET
ajeer-220	190	37	result	result	NOUN
ajeer-220	190	38	of	of	ADP
ajeer-220	190	39	the	the	DET
ajeer-220	190	40	underlying	underlie	VERB
ajeer-220	190	41	acquisition	acquisition	NOUN
ajeer-220	190	42	.	.	PUNCT
ajeer-220	191	1	finally	finally	ADV
ajeer-220	191	2	,	,	PUNCT
ajeer-220	191	3	ronw	ronw	NOUN
ajeer-220	191	4	ratio	ratio	NOUN
ajeer-220	191	5	showed	show	VERB
ajeer-220	191	6	negative	negative	ADJ
ajeer-220	191	7	trend	trend	NOUN
ajeer-220	191	8	,	,	PUNCT
ajeer-220	191	9	almost	almost	ADV
ajeer-220	191	10	shrank	shrink	VERB
ajeer-220	191	11	by	by	ADP
ajeer-220	191	12	60	60	NUM
ajeer-220	191	13	percent	percent	NOUN
ajeer-220	191	14	,	,	PUNCT
ajeer-220	191	15	in	in	ADP
ajeer-220	191	16	the	the	DET
ajeer-220	191	17	two	two	NUM
ajeer-220	191	18	years	year	NOUN
ajeer-220	191	19	after	after	ADP
ajeer-220	191	20	acquisition	acquisition	NOUN
ajeer-220	191	21	which	which	PRON
ajeer-220	191	22	shows	show	VERB
ajeer-220	191	23	that	that	SCONJ
ajeer-220	191	24	uk	uk	PROPN
ajeer-220	191	25	shareholders	shareholder	NOUN
ajeer-220	191	26	incurred	incur	VERB
ajeer-220	191	27	considerable	considerable	ADJ
ajeer-220	191	28	losses	loss	NOUN
ajeer-220	191	29	as	as	ADP
ajeer-220	191	30	a	a	DET
ajeer-220	191	31	result	result	NOUN
ajeer-220	191	32	of	of	ADP
ajeer-220	191	33	acquisition	acquisition	NOUN
ajeer-220	191	34	,	,	PUNCT
ajeer-220	191	35	however	however	ADV
ajeer-220	191	36	,	,	PUNCT
ajeer-220	191	37	the	the	DET
ajeer-220	191	38	same	same	ADJ
ajeer-220	191	39	ratio	ratio	NOUN
ajeer-220	191	40	remained	remain	VERB
ajeer-220	191	41	stable	stable	ADJ
ajeer-220	191	42	during	during	ADP
ajeer-220	191	43	the	the	DET
ajeer-220	191	44	one	one	NUM
ajeer-220	191	45	year	year	NOUN
ajeer-220	191	46	after	after	ADP
ajeer-220	191	47	the	the	DET
ajeer-220	191	48	acquisition	acquisition	NOUN
ajeer-220	191	49	which	which	PRON
ajeer-220	191	50	can	can	AUX
ajeer-220	191	51	be	be	AUX
ajeer-220	191	52	contributable	contributable	ADJ
ajeer-220	191	53	to	to	ADP
ajeer-220	191	54	the	the	DET
ajeer-220	191	55	short	short	ADJ
ajeer-220	191	56	span	span	NOUN
ajeer-220	191	57	of	of	ADP
ajeer-220	191	58	time	time	NOUN
ajeer-220	191	59	where	where	SCONJ
ajeer-220	191	60	post	post	ADJ
ajeer-220	191	61	-	-	ADJ
ajeer-220	191	62	acquisition	acquisition	ADJ
ajeer-220	191	63	process	process	NOUN
ajeer-220	191	64	are	be	AUX
ajeer-220	191	65	still	still	ADV
ajeer-220	191	66	underway	underway	ADJ
ajeer-220	191	67	while	while	SCONJ
ajeer-220	191	68	in	in	ADP
ajeer-220	191	69	the	the	DET
ajeer-220	191	70	longer	long	ADJ
ajeer-220	191	71	run	run	NOUN
ajeer-220	191	72	such	such	ADJ
ajeer-220	191	73	as	as	ADP
ajeer-220	191	74	in	in	ADP
ajeer-220	191	75	the	the	DET
ajeer-220	191	76	twenty	twenty	NUM
ajeer-220	191	77	four	four	NUM
ajeer-220	191	78	months	month	NOUN
ajeer-220	191	79	period	period	ADV
ajeer-220	191	80	the	the	DET
ajeer-220	191	81	net	net	ADJ
ajeer-220	191	82	present	present	ADJ
ajeer-220	191	83	value	value	NOUN
ajeer-220	191	84	of	of	ADP
ajeer-220	191	85	cash	cash	NOUN
ajeer-220	191	86	is	be	AUX
ajeer-220	191	87	being	be	AUX
ajeer-220	191	88	negatively	negatively	ADV
ajeer-220	191	89	affected	affect	VERB
ajeer-220	191	90	because	because	SCONJ
ajeer-220	191	91	of	of	ADP
ajeer-220	191	92	the	the	DET
ajeer-220	191	93	prolonged	prolonged	ADJ
ajeer-220	191	94	post	post	ADJ
ajeer-220	191	95	-	-	ADJ
ajeer-220	191	96	integration	integration	NOUN
ajeer-220	191	97	process	process	NOUN
ajeer-220	191	98	that	that	PRON
ajeer-220	191	99	erodes	erode	VERB
ajeer-220	191	100	profitability	profitability	NOUN
ajeer-220	191	101	.	.	PUNCT
ajeer-220	192	1	to	to	PART
ajeer-220	192	2	further	far	ADV
ajeer-220	192	3	verify	verify	VERB
ajeer-220	192	4	the	the	DET
ajeer-220	192	5	aforementioned	aforementioned	ADJ
ajeer-220	192	6	results	result	NOUN
ajeer-220	192	7	the	the	DET
ajeer-220	192	8	paired	pair	VERB
ajeer-220	192	9	t	t	NOUN
ajeer-220	192	10	-	-	PUNCT
ajeer-220	192	11	test	test	NOUN
ajeer-220	192	12	results	result	NOUN
ajeer-220	192	13	(	(	PUNCT
ajeer-220	192	14	see	see	VERB
ajeer-220	192	15	table	table	NOUN
ajeer-220	192	16	4.2	4.2	NUM
ajeer-220	192	17	)	)	PUNCT
ajeer-220	192	18	reveals	reveal	VERB
ajeer-220	192	19	that	that	SCONJ
ajeer-220	192	20	none	none	NOUN
ajeer-220	192	21	of	of	ADP
ajeer-220	192	22	the	the	DET
ajeer-220	192	23	financial	financial	ADJ
ajeer-220	192	24	ratios	ratio	NOUN
ajeer-220	192	25	are	be	AUX
ajeer-220	192	26	significant	significant	ADJ
ajeer-220	192	27	statistically	statistically	ADV
ajeer-220	192	28	as	as	SCONJ
ajeer-220	192	29	the	the	DET
ajeer-220	192	30	mean	mean	ADJ
ajeer-220	192	31	difference	difference	NOUN
ajeer-220	192	32	of	of	ADP
ajeer-220	192	33	the	the	DET
ajeer-220	192	34	two	two	NUM
ajeer-220	192	35	periods	period	NOUN
ajeer-220	192	36	i.e.	i.e.	X
ajeer-220	192	37	pre	pre	X
ajeer-220	192	38	and	and	CCONJ
ajeer-220	192	39	post	post	ADJ
ajeer-220	192	40	-	-	NOUN
ajeer-220	192	41	mergers	merger	NOUN
ajeer-220	192	42	are	be	AUX
ajeer-220	192	43	minimal	minimal	ADJ
ajeer-220	192	44	which	which	PRON
ajeer-220	192	45	suggest	suggest	VERB
ajeer-220	192	46	there	there	PRON
ajeer-220	192	47	was	be	VERB
ajeer-220	192	48	no	no	DET
ajeer-220	192	49	significant	significant	ADJ
ajeer-220	192	50	improvement	improvement	NOUN
ajeer-220	192	51	in	in	ADP
ajeer-220	192	52	the	the	DET
ajeer-220	192	53	financial	financial	ADJ
ajeer-220	192	54	performance	performance	NOUN
ajeer-220	192	55	after	after	ADP
ajeer-220	192	56	the	the	DET
ajeer-220	192	57	acquisition	acquisition	NOUN
ajeer-220	192	58	.	.	PUNCT
ajeer-220	193	1	moreover	moreover	ADV
ajeer-220	193	2	,	,	PUNCT
ajeer-220	193	3	the	the	DET
ajeer-220	193	4	ronw	ronw	NOUN
ajeer-220	193	5	ratio	ratio	NOUN
ajeer-220	193	6	although	although	SCONJ
ajeer-220	193	7	shows	show	VERB
ajeer-220	193	8	negative	negative	ADJ
ajeer-220	193	9	effect	effect	NOUN
ajeer-220	193	10	after	after	SCONJ
ajeer-220	193	11	the	the	DET
ajeer-220	193	12	acquisition	acquisition	NOUN
ajeer-220	193	13	however	however	ADV
ajeer-220	193	14	is	be	AUX
ajeer-220	193	15	not	not	PART
ajeer-220	193	16	statistically	statistically	ADV
ajeer-220	193	17	significant	significant	ADJ
ajeer-220	193	18	as	as	ADP
ajeer-220	193	19	evident	evident	ADJ
ajeer-220	193	20	from	from	ADP
ajeer-220	193	21	the	the	DET
ajeer-220	193	22	t	t	NOUN
ajeer-220	193	23	-	-	PUNCT
ajeer-220	193	24	test	test	NOUN
ajeer-220	193	25	results	result	NOUN
ajeer-220	193	26	.	.	PUNCT
ajeer-220	194	1	thus	thus	ADV
ajeer-220	194	2	,	,	PUNCT
ajeer-220	194	3	the	the	DET
ajeer-220	194	4	first	first	ADJ
ajeer-220	194	5	null	null	ADJ
ajeer-220	194	6	hypothesis	hypothesis	NOUN
ajeer-220	194	7	can	can	AUX
ajeer-220	194	8	be	be	AUX
ajeer-220	194	9	accepted	accept	VERB
ajeer-220	194	10	.	.	PUNCT
ajeer-220	195	1	the	the	DET
ajeer-220	195	2	standard	standard	ADJ
ajeer-220	195	3	deviation	deviation	NOUN
ajeer-220	195	4	shows	show	VERB
ajeer-220	195	5	that	that	SCONJ
ajeer-220	195	6	beta	beta	NOUN
ajeer-220	195	7	,	,	PUNCT
ajeer-220	195	8	calculated	calculate	VERB
ajeer-220	195	9	for	for	ADP
ajeer-220	195	10	30	30	NUM
ajeer-220	195	11	days	day	NOUN
ajeer-220	195	12	period	period	NOUN
ajeer-220	195	13	,	,	PUNCT
ajeer-220	195	14	remained	remain	VERB
ajeer-220	195	15	stable	stable	ADJ
ajeer-220	195	16	for	for	ADP
ajeer-220	195	17	all	all	DET
ajeer-220	195	18	the	the	DET
ajeer-220	195	19	companies	company	NOUN
ajeer-220	195	20	both	both	CCONJ
ajeer-220	195	21	in	in	ADP
ajeer-220	195	22	the	the	DET
ajeer-220	195	23	pre	pre	NOUN
ajeer-220	195	24	-	-	NOUN
ajeer-220	195	25	merger	merger	ADJ
ajeer-220	195	26	and	and	CCONJ
ajeer-220	195	27	post	post	ADJ
ajeer-220	195	28	-	-	ADJ
ajeer-220	195	29	merger	merger	ADJ
ajeer-220	195	30	58	58	NUM
ajeer-220	195	31	day	day	NOUN
ajeer-220	195	32	window	window	NOUN
ajeer-220	195	33	period	period	NOUN
ajeer-220	195	34	except	except	SCONJ
ajeer-220	195	35	trifast	trifast	ADV
ajeer-220	195	36	,	,	PUNCT
ajeer-220	195	37	brady	brady	PROPN
ajeer-220	195	38	,	,	PUNCT
ajeer-220	195	39	optos	opto	NOUN
ajeer-220	195	40	dead	dead	ADJ
ajeer-220	195	41	and	and	CCONJ
ajeer-220	195	42	omg	omg	INTJ
ajeer-220	195	43	where	where	SCONJ
ajeer-220	195	44	the	the	DET
ajeer-220	195	45	standard	standard	ADJ
ajeer-220	195	46	deviation	deviation	NOUN
ajeer-220	195	47	of	of	ADP
ajeer-220	195	48	the	the	DET
ajeer-220	195	49	respective	respective	ADJ
ajeer-220	195	50	companies	company	NOUN
ajeer-220	195	51	’	'	PUNCT
ajeer-220	195	52	beta	beta	NOUN
ajeer-220	195	53	showed	show	VERB
ajeer-220	195	54	negative	negative	ADJ
ajeer-220	195	55	trend	trend	NOUN
ajeer-220	195	56	.	.	PUNCT
ajeer-220	196	1	thus	thus	ADV
ajeer-220	196	2	,	,	PUNCT
ajeer-220	196	3	it	it	PRON
ajeer-220	196	4	can	can	AUX
ajeer-220	196	5	be	be	AUX
ajeer-220	196	6	argued	argue	VERB
ajeer-220	196	7	that	that	SCONJ
ajeer-220	196	8	on	on	ADP
ajeer-220	196	9	average	average	ADJ
ajeer-220	196	10	the	the	DET
ajeer-220	196	11	underlying	underlie	VERB
ajeer-220	196	12	companies	company	NOUN
ajeer-220	196	13	stocks	stock	NOUN
ajeer-220	196	14	did	do	AUX
ajeer-220	196	15	not	not	PART
ajeer-220	196	16	react	react	VERB
ajeer-220	196	17	abnormally	abnormally	ADV
ajeer-220	196	18	to	to	ADP
ajeer-220	196	19	changes	change	NOUN
ajeer-220	196	20	in	in	ADP
ajeer-220	196	21	the	the	DET
ajeer-220	196	22	market	market	NOUN
ajeer-220	196	23	or	or	CCONJ
ajeer-220	196	24	to	to	ADP
ajeer-220	196	25	the	the	DET
ajeer-220	196	26	announcement	announcement	NOUN
ajeer-220	196	27	of	of	ADP
ajeer-220	196	28	the	the	DET
ajeer-220	196	29	acquiring	acquire	VERB
ajeer-220	196	30	companies	company	NOUN
ajeer-220	196	31	’	’	PART
ajeer-220	196	32	merger	merger	NOUN
ajeer-220	196	33	/	/	SYM
ajeer-220	196	34	acquisition	acquisition	NOUN
ajeer-220	196	35	news	news	NOUN
ajeer-220	196	36	.	.	PUNCT
ajeer-220	197	1	hence	hence	ADV
ajeer-220	197	2	,	,	PUNCT
ajeer-220	197	3	this	this	PRON
ajeer-220	197	4	leads	lead	VERB
ajeer-220	197	5	to	to	ADP
ajeer-220	197	6	the	the	DET
ajeer-220	197	7	acceptance	acceptance	NOUN
ajeer-220	197	8	of	of	ADP
ajeer-220	197	9	second	second	ADJ
ajeer-220	197	10	null	null	ADJ
ajeer-220	197	11	hypothesis	hypothesis	NOUN
ajeer-220	197	12	that	that	SCONJ
ajeer-220	197	13	there	there	PRON
ajeer-220	197	14	is	be	VERB
ajeer-220	197	15	no	no	DET
ajeer-220	197	16	significant	significant	ADJ
ajeer-220	197	17	impact	impact	NOUN
ajeer-220	197	18	on	on	ADP
ajeer-220	197	19	the	the	DET
ajeer-220	197	20	acquiring	acquire	VERB
ajeer-220	197	21	companies	company	NOUN
ajeer-220	197	22	’	'	PUNCT
ajeer-220	197	23	shareholders	shareholder	NOUN
ajeer-220	197	24	’	'	PUNCT
ajeer-220	197	25	wealth	wealth	NOUN
ajeer-220	197	26	due	due	ADP
ajeer-220	197	27	to	to	ADP
ajeer-220	197	28	the	the	DET
ajeer-220	197	29	announcement	announcement	NOUN
ajeer-220	197	30	of	of	ADP
ajeer-220	197	31	cross	cross	ADJ
ajeer-220	197	32	border	border	NOUN
ajeer-220	197	33	merger	merger	NOUN
ajeer-220	197	34	/	/	SYM
ajeer-220	197	35	acquisition	acquisition	NOUN
ajeer-220	197	36	news	news	NOUN
ajeer-220	197	37	.	.	PUNCT
ajeer-220	198	1	moreover	moreover	ADV
ajeer-220	198	2	,	,	PUNCT
ajeer-220	198	3	the	the	DET
ajeer-220	198	4	paired	pair	VERB
ajeer-220	198	5	t	t	NOUN
ajeer-220	198	6	-	-	PUNCT
ajeer-220	198	7	test	test	NOUN
ajeer-220	198	8	results	result	NOUN
ajeer-220	198	9	for	for	ADP
ajeer-220	198	10	the	the	DET
ajeer-220	198	11	stocks	stock	NOUN
ajeer-220	198	12	shows	show	VERB
ajeer-220	198	13	no	no	DET
ajeer-220	198	14	statistical	statistical	ADJ
ajeer-220	198	15	significance	significance	NOUN
ajeer-220	198	16	over	over	ADP
ajeer-220	198	17	the	the	DET
ajeer-220	198	18	58	58	NUM
ajeer-220	198	19	days	day	NOUN
ajeer-220	198	20	window	window	NOUN
ajeer-220	198	21	period	period	NOUN
ajeer-220	198	22	that	that	PRON
ajeer-220	198	23	further	far	ADV
ajeer-220	198	24	confirms	confirm	VERB
ajeer-220	198	25	that	that	SCONJ
ajeer-220	198	26	no	no	DET
ajeer-220	198	27	significant	significant	ADJ
ajeer-220	198	28	gain	gain	NOUN
ajeer-220	198	29	was	be	AUX
ajeer-220	198	30	observed	observe	VERB
ajeer-220	198	31	as	as	ADP
ajeer-220	198	32	a	a	DET
ajeer-220	198	33	result	result	NOUN
ajeer-220	198	34	of	of	ADP
ajeer-220	198	35	acquisitions	acquisition	NOUN
ajeer-220	198	36	announcement	announcement	NOUN
ajeer-220	198	37	by	by	ADP
ajeer-220	198	38	the	the	DET
ajeer-220	198	39	underlying	underlie	VERB
ajeer-220	198	40	companies	company	NOUN
ajeer-220	198	41	.	.	PUNCT
ajeer-220	199	1	the	the	DET
ajeer-220	199	2	results	result	NOUN
ajeer-220	199	3	of	of	ADP
ajeer-220	199	4	average	average	ADJ
ajeer-220	199	5	abnormal	abnormal	ADJ
ajeer-220	199	6	return	return	NOUN
ajeer-220	199	7	(	(	PUNCT
ajeer-220	199	8	aar	aar	NOUN
ajeer-220	199	9	)	)	PUNCT
ajeer-220	199	10	(	(	PUNCT
ajeer-220	199	11	see	see	VERB
ajeer-220	199	12	figure	figure	NOUN
ajeer-220	199	13	4.1	4.1	NUM
ajeer-220	199	14	)	)	PUNCT
ajeer-220	199	15	shows	show	VERB
ajeer-220	199	16	that	that	SCONJ
ajeer-220	199	17	prior	prior	ADV
ajeer-220	199	18	to	to	ADP
ajeer-220	199	19	acquisition	acquisition	NOUN
ajeer-220	199	20	announcement	announcement	NOUN
ajeer-220	199	21	aar	aar	NOUN
ajeer-220	199	22	remained	remain	VERB
ajeer-220	199	23	negative	negative	ADJ
ajeer-220	199	24	for	for	ADP
ajeer-220	199	25	almost	almost	ADV
ajeer-220	199	26	over	over	ADP
ajeer-220	199	27	two	two	NUM
ajeer-220	199	28	weeks	week	NOUN
ajeer-220	199	29	period	period	NOUN
ajeer-220	199	30	;	;	PUNCT
ajeer-220	199	31	however	however	ADV
ajeer-220	199	32	only	only	ADV
ajeer-220	199	33	sharp	sharp	ADJ
ajeer-220	199	34	positive	positive	ADJ
ajeer-220	199	35	increase	increase	NOUN
ajeer-220	199	36	of	of	ADP
ajeer-220	199	37	.81	.81	NUM
ajeer-220	199	38	and	and	CCONJ
ajeer-220	199	39	.84	.84	NUM
ajeer-220	199	40	percent	percent	NOUN
ajeer-220	199	41	were	be	AUX
ajeer-220	199	42	observed	observe	VERB
ajeer-220	199	43	one	one	NUM
ajeer-220	199	44	week	week	NOUN
ajeer-220	199	45	prior	prior	ADV
ajeer-220	199	46	to	to	ADP
ajeer-220	199	47	acquisition	acquisition	NOUN
ajeer-220	199	48	announcement	announcement	NOUN
ajeer-220	199	49	date	date	NOUN
ajeer-220	199	50	but	but	CCONJ
ajeer-220	199	51	soon	soon	ADV
ajeer-220	199	52	followed	follow	VERB
ajeer-220	199	53	by	by	ADP
ajeer-220	199	54	negative	negative	ADJ
ajeer-220	199	55	trend	trend	NOUN
ajeer-220	199	56	.	.	PUNCT
ajeer-220	200	1	similarly	similarly	ADV
ajeer-220	200	2	,	,	PUNCT
ajeer-220	200	3	after	after	ADP
ajeer-220	200	4	the	the	DET
ajeer-220	200	5	announcement	announcement	NOUN
ajeer-220	200	6	of	of	ADP
ajeer-220	200	7	acquisition	acquisition	NOUN
ajeer-220	200	8	date	date	NOUN
ajeer-220	200	9	the	the	DET
ajeer-220	200	10	aar	aar	NOUN
ajeer-220	200	11	suddenly	suddenly	ADV
ajeer-220	200	12	goes	go	VERB
ajeer-220	200	13	in	in	ADP
ajeer-220	200	14	an	an	DET
ajeer-220	200	15	upward	upward	ADJ
ajeer-220	200	16	direction	direction	NOUN
ajeer-220	200	17	reaching	reach	VERB
ajeer-220	200	18	.96	.96	NUM
ajeer-220	200	19	percent	percent	NOUN
ajeer-220	200	20	following	follow	VERB
ajeer-220	200	21	for	for	ADP
ajeer-220	200	22	over	over	ADP
ajeer-220	200	23	two	two	NUM
ajeer-220	200	24	weeks	week	NOUN
ajeer-220	200	25	with	with	ADP
ajeer-220	200	26	slight	slight	ADJ
ajeer-220	200	27	variation	variation	NOUN
ajeer-220	200	28	followed	follow	VERB
ajeer-220	200	29	by	by	ADP
ajeer-220	200	30	a	a	DET
ajeer-220	200	31	negative	negative	ADJ
ajeer-220	200	32	trend	trend	NOUN
ajeer-220	200	33	in	in	ADP
ajeer-220	200	34	the	the	DET
ajeer-220	200	35	last	last	ADJ
ajeer-220	200	36	week	week	NOUN
ajeer-220	200	37	of	of	ADP
ajeer-220	200	38	the	the	DET
ajeer-220	200	39	29	29	NUM
ajeer-220	200	40	days	day	NOUN
ajeer-220	200	41	window	window	NOUN
ajeer-220	200	42	period	period	NOUN
ajeer-220	200	43	in	in	ADP
ajeer-220	200	44	the	the	DET
ajeer-220	200	45	post	post	ADJ
ajeer-220	200	46	-	-	ADJ
ajeer-220	200	47	acquisition	acquisition	ADJ
ajeer-220	200	48	time	time	NOUN
ajeer-220	200	49	.	.	PUNCT
ajeer-220	201	1	this	this	PRON
ajeer-220	201	2	,	,	PUNCT
ajeer-220	201	3	however	however	ADV
ajeer-220	201	4	,	,	PUNCT
ajeer-220	201	5	shows	show	VERB
ajeer-220	201	6	that	that	SCONJ
ajeer-220	201	7	as	as	ADP
ajeer-220	201	8	a	a	DET
ajeer-220	201	9	result	result	NOUN
ajeer-220	201	10	of	of	ADP
ajeer-220	201	11	acquisition	acquisition	NOUN
ajeer-220	201	12	activities	activity	NOUN
ajeer-220	201	13	market	market	NOUN
ajeer-220	201	14	react	react	VERB
ajeer-220	201	15	positively	positively	ADV
ajeer-220	201	16	to	to	ADP
ajeer-220	201	17	the	the	DET
ajeer-220	201	18	changes	change	NOUN
ajeer-220	201	19	that	that	PRON
ajeer-220	201	20	in	in	ADP
ajeer-220	201	21	turn	turn	NOUN
ajeer-220	201	22	result	result	NOUN
ajeer-220	201	23	in	in	ADP
ajeer-220	201	24	short	short	ADJ
ajeer-220	201	25	-	-	PUNCT
ajeer-220	201	26	term	term	NOUN
ajeer-220	201	27	gain	gain	NOUN
ajeer-220	201	28	for	for	ADP
ajeer-220	201	29	shareholders	shareholder	NOUN
ajeer-220	201	30	as	as	SCONJ
ajeer-220	201	31	argued	argue	VERB
ajeer-220	201	32	by	by	ADP
ajeer-220	201	33	delaney	delaney	NOUN
ajeer-220	201	34	and	and	CCONJ
ajeer-220	201	35	wamuziri	wamuziri	NOUN
ajeer-220	201	36	(	(	PUNCT
ajeer-220	201	37	2004	2004	NUM
ajeer-220	201	38	)	)	PUNCT
ajeer-220	201	39	.	.	PUNCT
ajeer-220	202	1	thus	thus	ADV
ajeer-220	202	2	,	,	PUNCT
ajeer-220	202	3	shareholders	shareholder	NOUN
ajeer-220	202	4	of	of	ADP
ajeer-220	202	5	the	the	DET
ajeer-220	202	6	acquiring	acquire	VERB
ajeer-220	202	7	firms	firm	NOUN
ajeer-220	202	8	had	have	VERB
ajeer-220	202	9	marginal	marginal	ADJ
ajeer-220	202	10	gain	gain	NOUN
ajeer-220	202	11	only	only	ADV
ajeer-220	202	12	for	for	ADP
ajeer-220	202	13	a	a	DET
ajeer-220	202	14	short	short	ADJ
ajeer-220	202	15	while	while	NOUN
ajeer-220	202	16	after	after	ADP
ajeer-220	202	17	acquisitions	acquisition	NOUN
ajeer-220	202	18	.	.	PUNCT
ajeer-220	203	1	however	however	ADV
ajeer-220	203	2	,	,	PUNCT
ajeer-220	203	3	the	the	DET
ajeer-220	203	4	cumulative	cumulative	ADJ
ajeer-220	203	5	average	average	ADJ
ajeer-220	203	6	abnormal	abnormal	ADJ
ajeer-220	203	7	return	return	NOUN
ajeer-220	203	8	(	(	PUNCT
ajeer-220	203	9	caar	caar	NOUN
ajeer-220	203	10	)	)	PUNCT
ajeer-220	203	11	(	(	PUNCT
ajeer-220	203	12	see	see	VERB
ajeer-220	203	13	figure	figure	NOUN
ajeer-220	203	14	1	1	NUM
ajeer-220	203	15	)	)	PUNCT
ajeer-220	203	16	shows	show	VERB
ajeer-220	203	17	negative	negative	ADJ
ajeer-220	203	18	trend	trend	NOUN
ajeer-220	203	19	for	for	ADP
ajeer-220	203	20	the	the	DET
ajeer-220	203	21	entire	entire	ADJ
ajeer-220	203	22	period	period	NOUN
ajeer-220	203	23	and	and	CCONJ
ajeer-220	203	24	even	even	ADV
ajeer-220	203	25	reached	reach	VERB
ajeer-220	203	26	to	to	ADP
ajeer-220	203	27	-5.04	-5.04	NUM
ajeer-220	203	28	percent	percent	NOUN
ajeer-220	203	29	after	after	ADP
ajeer-220	203	30	the	the	DET
ajeer-220	203	31	acquisition	acquisition	NOUN
ajeer-220	203	32	announcement	announcement	NOUN
ajeer-220	203	33	.	.	PUNCT
ajeer-220	204	1	this	this	PRON
ajeer-220	204	2	shows	show	VERB
ajeer-220	204	3	that	that	SCONJ
ajeer-220	204	4	over	over	ADP
ajeer-220	204	5	the	the	DET
ajeer-220	204	6	58	58	NUM
ajeer-220	204	7	days	day	NOUN
ajeer-220	204	8	period	period	NOUN
ajeer-220	204	9	shareholders	shareholder	NOUN
ajeer-220	204	10	incurred	incur	VERB
ajeer-220	204	11	considerable	considerable	ADJ
ajeer-220	204	12	losses	loss	NOUN
ajeer-220	204	13	rather	rather	ADV
ajeer-220	204	14	than	than	ADP
ajeer-220	204	15	gain	gain	VERB
ajeer-220	204	16	.	.	PUNCT
ajeer-220	205	1	the	the	DET
ajeer-220	205	2	relative	relative	ADJ
ajeer-220	205	3	longer	long	ADJ
ajeer-220	205	4	negative	negative	ADJ
ajeer-220	205	5	trend	trend	NOUN
ajeer-220	205	6	of	of	ADP
ajeer-220	205	7	caar	caar	NOUN
ajeer-220	205	8	in	in	ADP
ajeer-220	205	9	both	both	PRON
ajeer-220	205	10	pre	pre	ADJ
ajeer-220	205	11	and	and	CCONJ
ajeer-220	205	12	post	post	ADJ
ajeer-220	205	13	-	-	ADJ
ajeer-220	205	14	acquisition	acquisition	ADJ
ajeer-220	205	15	announcement	announcement	NOUN
ajeer-220	205	16	period	period	NOUN
ajeer-220	205	17	can	can	AUX
ajeer-220	205	18	be	be	AUX
ajeer-220	205	19	contributable	contributable	ADJ
ajeer-220	205	20	to	to	ADP
ajeer-220	205	21	the	the	DET
ajeer-220	205	22	relative	relative	ADJ
ajeer-220	205	23	grim	grim	ADJ
ajeer-220	205	24	economic	economic	ADJ
ajeer-220	205	25	indicators	indicator	NOUN
ajeer-220	205	26	prevalent	prevalent	ADJ
ajeer-220	205	27	in	in	ADP
ajeer-220	205	28	the	the	DET
ajeer-220	205	29	uk	uk	PROPN
ajeer-220	205	30	market	market	NOUN
ajeer-220	205	31	during	during	ADP
ajeer-220	205	32	2009	2009	NUM
ajeer-220	205	33	to	to	ADP
ajeer-220	205	34	2013	2013	NUM
ajeer-220	205	35	where	where	SCONJ
ajeer-220	205	36	capital	capital	NOUN
ajeer-220	205	37	market	market	NOUN
ajeer-220	205	38	in	in	ADP
ajeer-220	205	39	particular	particular	ADJ
ajeer-220	205	40	found	find	VERB
ajeer-220	205	41	to	to	PART
ajeer-220	205	42	be	be	AUX
ajeer-220	205	43	more	more	ADV
ajeer-220	205	44	sceptic	sceptic	ADJ
ajeer-220	205	45	to	to	ADP
ajeer-220	205	46	such	such	ADJ
ajeer-220	205	47	announcements	announcement	NOUN
ajeer-220	205	48	following	follow	VERB
ajeer-220	205	49	the	the	DET
ajeer-220	205	50	collapse	collapse	NOUN
ajeer-220	205	51	of	of	ADP
ajeer-220	205	52	northern	northern	ADJ
ajeer-220	205	53	rock	rock	NOUN
ajeer-220	205	54	,	,	PUNCT
ajeer-220	205	55	rbs	rbs	PROPN
ajeer-220	205	56	as	as	ADV
ajeer-220	205	57	well	well	ADV
ajeer-220	205	58	as	as	ADP
ajeer-220	205	59	the	the	DET
ajeer-220	205	60	bailout	bailout	NOUN
ajeer-220	205	61	of	of	ADP
ajeer-220	205	62	big	big	ADJ
ajeer-220	205	63	financial	financial	ADJ
ajeer-220	205	64	institutions	institution	NOUN
ajeer-220	205	65	in	in	ADP
ajeer-220	205	66	the	the	DET
ajeer-220	205	67	uk	uk	PROPN
ajeer-220	205	68	triggered	trigger	VERB
ajeer-220	205	69	by	by	ADP
ajeer-220	205	70	economic	economic	ADJ
ajeer-220	205	71	recession	recession	NOUN
ajeer-220	205	72	during	during	ADP
ajeer-220	205	73	2007/08	2007/08	NUM
ajeer-220	205	74	.	.	PUNCT
ajeer-220	206	1	the	the	DET
ajeer-220	206	2	outcomes	outcome	NOUN
ajeer-220	206	3	of	of	ADP
ajeer-220	206	4	caar	caar	NOUN
ajeer-220	206	5	are	be	AUX
ajeer-220	206	6	inconsistent	inconsistent	ADJ
ajeer-220	206	7	with	with	ADP
ajeer-220	206	8	the	the	DET
ajeer-220	206	9	results	result	NOUN
ajeer-220	206	10	of	of	ADP
ajeer-220	206	11	singla	singla	PROPN
ajeer-220	206	12	et	et	PROPN
ajeer-220	206	13	al	al	PROPN
ajeer-220	206	14	.	.	PROPN
ajeer-220	207	1	(	(	PUNCT
ajeer-220	207	2	2012	2012	NUM
ajeer-220	207	3	)	)	PUNCT
ajeer-220	207	4	cumulative	cumulative	ADJ
ajeer-220	207	5	average	average	ADJ
ajeer-220	207	6	abnormal	abnormal	ADJ
ajeer-220	207	7	return	return	NOUN
ajeer-220	207	8	where	where	SCONJ
ajeer-220	207	9	caar	caar	NOUN
ajeer-220	207	10	of	of	ADP
ajeer-220	207	11	the	the	DET
ajeer-220	207	12	indian	indian	ADJ
ajeer-220	207	13	acquiring	acquire	VERB
ajeer-220	207	14	firms	firm	NOUN
ajeer-220	207	15	showed	show	VERB
ajeer-220	207	16	almost	almost	ADV
ajeer-220	207	17	marginal	marginal	ADJ
ajeer-220	207	18	gain	gain	NOUN
ajeer-220	207	19	instead	instead	ADV
ajeer-220	207	20	.	.	PUNCT
ajeer-220	208	1	moreover	moreover	ADV
ajeer-220	208	2	,	,	PUNCT
ajeer-220	208	3	the	the	DET
ajeer-220	208	4	results	result	NOUN
ajeer-220	208	5	of	of	ADP
ajeer-220	208	6	this	this	DET
ajeer-220	208	7	study	study	NOUN
ajeer-220	208	8	are	be	AUX
ajeer-220	208	9	also	also	ADV
ajeer-220	208	10	inconsistent	inconsistent	ADJ
ajeer-220	208	11	with	with	ADP
ajeer-220	208	12	the	the	DET
ajeer-220	208	13	findings	finding	NOUN
ajeer-220	208	14	of	of	ADP
ajeer-220	208	15	delaney	delaney	PROPN
ajeer-220	208	16	and	and	CCONJ
ajeer-220	208	17	wamuziri	wamuziri	NOUN
ajeer-220	208	18	(	(	PUNCT
ajeer-220	208	19	2004	2004	NUM
ajeer-220	208	20	)	)	PUNCT
ajeer-220	208	21	who	who	PRON
ajeer-220	208	22	argue	argue	VERB
ajeer-220	208	23	,	,	PUNCT
ajeer-220	208	24	in	in	ADP
ajeer-220	208	25	the	the	DET
ajeer-220	208	26	context	context	NOUN
ajeer-220	208	27	of	of	ADP
ajeer-220	208	28	uk	uk	PROPN
ajeer-220	208	29	construction	construction	NOUN
ajeer-220	208	30	companies	company	NOUN
ajeer-220	208	31	,	,	PUNCT
ajeer-220	208	32	that	that	SCONJ
ajeer-220	208	33	shareholders	shareholder	NOUN
ajeer-220	208	34	of	of	ADP
ajeer-220	208	35	bidding	bidding	NOUN
ajeer-220	208	36	firms	firm	NOUN
ajeer-220	208	37	earn	earn	VERB
ajeer-220	208	38	abnormal	abnormal	ADJ
ajeer-220	208	39	positive	positive	ADJ
ajeer-220	208	40	returns	return	NOUN
ajeer-220	208	41	prior	prior	ADV
ajeer-220	208	42	to	to	ADP
ajeer-220	208	43	the	the	DET
ajeer-220	208	44	announcement	announcement	NOUN
ajeer-220	208	45	of	of	ADP
ajeer-220	208	46	an	an	DET
ajeer-220	208	47	acquirer	acquirer	NOUN
ajeer-220	208	48	firms	firm	NOUN
ajeer-220	208	49	bid	bid	VERB
ajeer-220	208	50	;	;	PUNCT
ajeer-220	208	51	however	however	ADV
ajeer-220	208	52	,	,	PUNCT
ajeer-220	208	53	it	it	PRON
ajeer-220	208	54	does	do	AUX
ajeer-220	208	55	not	not	PART
ajeer-220	208	56	last	last	VERB
ajeer-220	208	57	long	long	ADV
ajeer-220	208	58	enough	enough	ADV
ajeer-220	208	59	as	as	SCONJ
ajeer-220	208	60	was	be	AUX
ajeer-220	208	61	the	the	DET
ajeer-220	208	62	case	case	NOUN
ajeer-220	208	63	in	in	ADP
ajeer-220	208	64	this	this	DET
ajeer-220	208	65	study	study	NOUN
ajeer-220	208	66	findings	finding	NOUN
ajeer-220	208	67	of	of	ADP
ajeer-220	208	68	arr	arr	NOUN
ajeer-220	208	69	where	where	SCONJ
ajeer-220	208	70	the	the	DET
ajeer-220	208	71	gain	gain	NOUN
ajeer-220	208	72	reached	reach	VERB
ajeer-220	208	73	to	to	ADP
ajeer-220	208	74	.96	.96	NUM
ajeer-220	208	75	percent	percent	NOUN
ajeer-220	208	76	but	but	CCONJ
ajeer-220	208	77	for	for	ADP
ajeer-220	208	78	a	a	DET
ajeer-220	208	79	short	short	ADJ
ajeer-220	208	80	period	period	NOUN
ajeer-220	208	81	of	of	ADP
ajeer-220	208	82	time	time	NOUN
ajeer-220	208	83	.	.	PUNCT
ajeer-220	209	1	7	7	X
ajeer-220	209	2	.	.	X
ajeer-220	209	3	discussion	discussion	NOUN
ajeer-220	209	4	greater	great	ADJ
ajeer-220	209	5	portion	portion	NOUN
ajeer-220	209	6	of	of	ADP
ajeer-220	209	7	the	the	DET
ajeer-220	209	8	literature	literature	NOUN
ajeer-220	209	9	review	review	NOUN
ajeer-220	209	10	examined	examine	VERB
ajeer-220	209	11	until	until	ADP
ajeer-220	209	12	now	now	ADV
ajeer-220	209	13	empirically	empirically	ADV
ajeer-220	209	14	support	support	VERB
ajeer-220	209	15	the	the	DET
ajeer-220	209	16	arguments	argument	NOUN
ajeer-220	209	17	that	that	SCONJ
ajeer-220	209	18	shareholders	shareholder	NOUN
ajeer-220	209	19	of	of	ADP
ajeer-220	209	20	the	the	DET
ajeer-220	209	21	bidding	bidding	NOUN
ajeer-220	209	22	firms	firm	NOUN
ajeer-220	209	23	do	do	AUX
ajeer-220	209	24	not	not	PART
ajeer-220	209	25	gain	gain	VERB
ajeer-220	209	26	from	from	ADP
ajeer-220	209	27	the	the	DET
ajeer-220	209	28	acquisition	acquisition	NOUN
ajeer-220	209	29	process	process	NOUN
ajeer-220	209	30	as	as	ADV
ajeer-220	209	31	well	well	ADV
ajeer-220	209	32	as	as	SCONJ
ajeer-220	209	33	they	they	PRON
ajeer-220	209	34	argue	argue	VERB
ajeer-220	209	35	that	that	SCONJ
ajeer-220	209	36	bidding	bidding	NOUN
ajeer-220	209	37	firms	firm	NOUN
ajeer-220	209	38	do	do	AUX
ajeer-220	209	39	not	not	PART
ajeer-220	209	40	seem	seem	VERB
ajeer-220	209	41	to	to	PART
ajeer-220	209	42	improve	improve	VERB
ajeer-220	209	43	their	their	PRON
ajeer-220	209	44	financial	financial	ADJ
ajeer-220	209	45	position	position	NOUN
ajeer-220	209	46	as	as	ADP
ajeer-220	209	47	a	a	DET
ajeer-220	209	48	result	result	NOUN
ajeer-220	209	49	of	of	ADP
ajeer-220	209	50	acquisitions	acquisition	NOUN
ajeer-220	209	51	.	.	PUNCT
ajeer-220	210	1	the	the	DET
ajeer-220	210	2	results	result	NOUN
ajeer-220	210	3	of	of	ADP
ajeer-220	210	4	this	this	DET
ajeer-220	210	5	study	study	NOUN
ajeer-220	210	6	in	in	ADP
ajeer-220	210	7	the	the	DET
ajeer-220	210	8	context	context	NOUN
ajeer-220	210	9	of	of	ADP
ajeer-220	210	10	uk	uk	PROPN
ajeer-220	210	11	’s	’s	PART
ajeer-220	210	12	acquiring	acquire	VERB
ajeer-220	210	13	asian	asian	ADJ
ajeer-220	210	14	journal	journal	NOUN
ajeer-220	210	15	of	of	ADP
ajeer-220	210	16	economics	economic	NOUN
ajeer-220	210	17	and	and	CCONJ
ajeer-220	210	18	empirical	empirical	ADJ
ajeer-220	210	19	research	research	NOUN
ajeer-220	210	20	,	,	PUNCT
ajeer-220	210	21	2016	2016	NUM
ajeer-220	210	22	,	,	PUNCT
ajeer-220	210	23	3(2):130	3(2):130	NUM
ajeer-220	210	24	-	-	SYM
ajeer-220	210	25	138	138	NUM
ajeer-220	210	26	136	136	NUM
ajeer-220	210	27	companies	company	NOUN
ajeer-220	210	28	also	also	ADV
ajeer-220	210	29	support	support	VERB
ajeer-220	210	30	the	the	DET
ajeer-220	210	31	findings	finding	NOUN
ajeer-220	210	32	of	of	ADP
ajeer-220	210	33	the	the	DET
ajeer-220	210	34	earlier	early	ADJ
ajeer-220	210	35	studies	study	NOUN
ajeer-220	210	36	.	.	PUNCT
ajeer-220	211	1	the	the	DET
ajeer-220	211	2	examination	examination	NOUN
ajeer-220	211	3	of	of	ADP
ajeer-220	211	4	financial	financial	ADJ
ajeer-220	211	5	ratios	ratio	NOUN
ajeer-220	211	6	mainly	mainly	ADV
ajeer-220	211	7	liquidity	liquidity	NOUN
ajeer-220	211	8	,	,	PUNCT
ajeer-220	211	9	profitability	profitability	NOUN
ajeer-220	211	10	and	and	CCONJ
ajeer-220	211	11	solvency	solvency	NOUN
ajeer-220	211	12	over	over	ADP
ajeer-220	211	13	the	the	DET
ajeer-220	211	14	two	two	NUM
ajeer-220	211	15	years	year	NOUN
ajeer-220	211	16	window	window	NOUN
ajeer-220	211	17	period	period	NOUN
ajeer-220	211	18	before	before	ADP
ajeer-220	211	19	acquisition	acquisition	NOUN
ajeer-220	211	20	and	and	CCONJ
ajeer-220	211	21	after	after	ADP
ajeer-220	211	22	acquisition	acquisition	NOUN
ajeer-220	211	23	report	report	NOUN
ajeer-220	211	24	no	no	DET
ajeer-220	211	25	significant	significant	ADJ
ajeer-220	211	26	improvement	improvement	NOUN
ajeer-220	211	27	as	as	ADV
ajeer-220	211	28	well	well	ADV
ajeer-220	211	29	as	as	ADP
ajeer-220	211	30	the	the	DET
ajeer-220	211	31	acquiring	acquire	VERB
ajeer-220	211	32	year	year	NOUN
ajeer-220	211	33	also	also	ADV
ajeer-220	211	34	shows	show	VERB
ajeer-220	211	35	no	no	DET
ajeer-220	211	36	financial	financial	ADJ
ajeer-220	211	37	improvement	improvement	NOUN
ajeer-220	211	38	.	.	PUNCT
ajeer-220	212	1	the	the	DET
ajeer-220	212	2	insignificance	insignificance	NOUN
ajeer-220	212	3	of	of	ADP
ajeer-220	212	4	the	the	DET
ajeer-220	212	5	results	result	NOUN
ajeer-220	212	6	can	can	AUX
ajeer-220	212	7	be	be	AUX
ajeer-220	212	8	contributable	contributable	ADJ
ajeer-220	212	9	to	to	ADP
ajeer-220	212	10	number	number	NOUN
ajeer-220	212	11	of	of	ADP
ajeer-220	212	12	reasons	reason	NOUN
ajeer-220	212	13	.	.	PUNCT
ajeer-220	213	1	uddin	uddin	ADJ
ajeer-220	213	2	and	and	CCONJ
ajeer-220	213	3	boateng	boateng	PROPN
ajeer-220	213	4	(	(	PUNCT
ajeer-220	213	5	2009	2009	NUM
ajeer-220	213	6	)	)	PUNCT
ajeer-220	213	7	giving	give	VERB
ajeer-220	213	8	one	one	NUM
ajeer-220	213	9	potential	potential	ADJ
ajeer-220	213	10	reason	reason	NOUN
ajeer-220	213	11	by	by	ADP
ajeer-220	213	12	explaining	explain	VERB
ajeer-220	213	13	that	that	SCONJ
ajeer-220	213	14	uk	uk	PROPN
ajeer-220	213	15	has	have	VERB
ajeer-220	213	16	competitive	competitive	ADJ
ajeer-220	213	17	capital	capital	NOUN
ajeer-220	213	18	market	market	NOUN
ajeer-220	213	19	that	that	PRON
ajeer-220	213	20	instantly	instantly	ADV
ajeer-220	213	21	absorb	absorb	VERB
ajeer-220	213	22	any	any	DET
ajeer-220	213	23	new	new	ADJ
ajeer-220	213	24	information	information	NOUN
ajeer-220	213	25	therefore	therefore	ADV
ajeer-220	213	26	shareholders	shareholder	NOUN
ajeer-220	213	27	can	can	AUX
ajeer-220	213	28	not	not	PART
ajeer-220	213	29	make	make	VERB
ajeer-220	213	30	abnormal	abnormal	ADJ
ajeer-220	213	31	returns	return	NOUN
ajeer-220	213	32	as	as	ADP
ajeer-220	213	33	a	a	DET
ajeer-220	213	34	result	result	NOUN
ajeer-220	213	35	of	of	ADP
ajeer-220	213	36	acquisition	acquisition	NOUN
ajeer-220	213	37	announcement	announcement	NOUN
ajeer-220	213	38	instead	instead	ADV
ajeer-220	213	39	the	the	DET
ajeer-220	213	40	market	market	NOUN
ajeer-220	213	41	closely	closely	ADV
ajeer-220	213	42	observe	observe	VERB
ajeer-220	213	43	the	the	DET
ajeer-220	213	44	activities	activity	NOUN
ajeer-220	213	45	therefore	therefore	ADV
ajeer-220	213	46	,	,	PUNCT
ajeer-220	213	47	as	as	ADP
ajeer-220	213	48	evident	evident	ADJ
ajeer-220	213	49	from	from	ADP
ajeer-220	213	50	the	the	DET
ajeer-220	213	51	results	result	NOUN
ajeer-220	213	52	,	,	PUNCT
ajeer-220	213	53	no	no	DET
ajeer-220	213	54	financial	financial	ADJ
ajeer-220	213	55	improvement	improvement	NOUN
ajeer-220	213	56	is	be	AUX
ajeer-220	213	57	observed	observe	VERB
ajeer-220	213	58	in	in	ADP
ajeer-220	213	59	the	the	DET
ajeer-220	213	60	short	short	ADJ
ajeer-220	213	61	-	-	PUNCT
ajeer-220	213	62	term	term	NOUN
ajeer-220	213	63	i.e.	i.e.	X
ajeer-220	213	64	two	two	NUM
ajeer-220	213	65	years	year	NOUN
ajeer-220	213	66	after	after	ADP
ajeer-220	213	67	the	the	DET
ajeer-220	213	68	acquisition	acquisition	NOUN
ajeer-220	213	69	.	.	PUNCT
ajeer-220	214	1	secondly	secondly	ADV
ajeer-220	214	2	,	,	PUNCT
ajeer-220	214	3	chanmugam	chanmugam	PROPN
ajeer-220	214	4	et	et	PROPN
ajeer-220	214	5	al	al	PROPN
ajeer-220	214	6	.	.	PROPN
ajeer-220	215	1	(	(	PUNCT
ajeer-220	215	2	2005	2005	NUM
ajeer-220	215	3	)	)	PUNCT
ajeer-220	215	4	explain	explain	VERB
ajeer-220	215	5	that	that	SCONJ
ajeer-220	215	6	the	the	DET
ajeer-220	215	7	non	non	ADJ
ajeer-220	215	8	-	-	ADJ
ajeer-220	215	9	value	value	ADJ
ajeer-220	215	10	creation	creation	NOUN
ajeer-220	215	11	of	of	ADP
ajeer-220	215	12	mergers	merger	NOUN
ajeer-220	215	13	/	/	SYM
ajeer-220	215	14	acquisitions	acquisition	NOUN
ajeer-220	215	15	can	can	AUX
ajeer-220	215	16	be	be	AUX
ajeer-220	215	17	contributable	contributable	ADJ
ajeer-220	215	18	to	to	ADP
ajeer-220	215	19	the	the	DET
ajeer-220	215	20	relative	relative	ADJ
ajeer-220	215	21	mature	mature	ADJ
ajeer-220	215	22	process	process	NOUN
ajeer-220	215	23	of	of	ADP
ajeer-220	215	24	m&as	m&as	NOUN
ajeer-220	215	25	as	as	SCONJ
ajeer-220	215	26	every	every	DET
ajeer-220	215	27	company	company	NOUN
ajeer-220	215	28	uses	use	VERB
ajeer-220	215	29	identical	identical	ADJ
ajeer-220	215	30	process	process	NOUN
ajeer-220	215	31	to	to	PART
ajeer-220	215	32	undertake	undertake	VERB
ajeer-220	215	33	m&as	m&as	NOUN
ajeer-220	215	34	activities	activity	NOUN
ajeer-220	215	35	that	that	PRON
ajeer-220	215	36	often	often	ADV
ajeer-220	215	37	lead	lead	VERB
ajeer-220	215	38	to	to	ADP
ajeer-220	215	39	overestimating	overestimate	VERB
ajeer-220	215	40	the	the	DET
ajeer-220	215	41	potential	potential	ADJ
ajeer-220	215	42	synergies	synergy	NOUN
ajeer-220	215	43	that	that	SCONJ
ajeer-220	215	44	in	in	ADP
ajeer-220	215	45	turn	turn	NOUN
ajeer-220	215	46	leads	lead	VERB
ajeer-220	215	47	to	to	ADP
ajeer-220	215	48	financial	financial	ADJ
ajeer-220	215	49	losses	loss	NOUN
ajeer-220	215	50	rather	rather	ADV
ajeer-220	215	51	than	than	ADP
ajeer-220	215	52	gain	gain	VERB
ajeer-220	215	53	.	.	PUNCT
ajeer-220	216	1	as	as	ADP
ajeer-220	216	2	evident	evident	ADJ
ajeer-220	216	3	by	by	ADP
ajeer-220	216	4	the	the	DET
ajeer-220	216	5	prevalent	prevalent	ADJ
ajeer-220	216	6	literature	literature	NOUN
ajeer-220	216	7	that	that	SCONJ
ajeer-220	216	8	during	during	ADP
ajeer-220	216	9	implemental	implemental	ADJ
ajeer-220	216	10	or	or	CCONJ
ajeer-220	216	11	integration	integration	NOUN
ajeer-220	216	12	phase	phase	NOUN
ajeer-220	216	13	most	most	ADJ
ajeer-220	216	14	of	of	ADP
ajeer-220	216	15	the	the	DET
ajeer-220	216	16	m&as	m&as	NOUN
ajeer-220	216	17	cost	cost	NOUN
ajeer-220	216	18	increases	increase	NOUN
ajeer-220	216	19	as	as	ADP
ajeer-220	216	20	a	a	DET
ajeer-220	216	21	result	result	NOUN
ajeer-220	216	22	of	of	ADP
ajeer-220	216	23	complex	complex	ADJ
ajeer-220	216	24	structural	structural	ADJ
ajeer-220	216	25	and	and	CCONJ
ajeer-220	216	26	cultural	cultural	ADJ
ajeer-220	216	27	issues	issue	NOUN
ajeer-220	216	28	.	.	PUNCT
ajeer-220	217	1	thus	thus	ADV
ajeer-220	217	2	,	,	PUNCT
ajeer-220	217	3	the	the	DET
ajeer-220	217	4	companies	company	NOUN
ajeer-220	217	5	under	under	ADP
ajeer-220	217	6	investigation	investigation	NOUN
ajeer-220	217	7	might	might	AUX
ajeer-220	217	8	also	also	ADV
ajeer-220	217	9	have	have	VERB
ajeer-220	217	10	the	the	DET
ajeer-220	217	11	met	meet	VERB
ajeer-220	217	12	the	the	DET
ajeer-220	217	13	same	same	ADJ
ajeer-220	217	14	of	of	ADP
ajeer-220	217	15	incurring	incur	VERB
ajeer-220	217	16	post	post	NOUN
ajeer-220	217	17	-	-	NOUN
ajeer-220	217	18	mergers	merger	NOUN
ajeer-220	217	19	/	/	SYM
ajeer-220	217	20	acquisitions	acquisition	NOUN
ajeer-220	217	21	problems	problem	NOUN
ajeer-220	217	22	.	.	PUNCT
ajeer-220	218	1	thirdly	thirdly	ADV
ajeer-220	218	2	,	,	PUNCT
ajeer-220	218	3	the	the	DET
ajeer-220	218	4	results	result	NOUN
ajeer-220	218	5	of	of	ADP
ajeer-220	218	6	this	this	DET
ajeer-220	218	7	study	study	NOUN
ajeer-220	218	8	can	can	AUX
ajeer-220	218	9	also	also	ADV
ajeer-220	218	10	be	be	AUX
ajeer-220	218	11	contributable	contributable	ADJ
ajeer-220	218	12	to	to	ADP
ajeer-220	218	13	the	the	DET
ajeer-220	218	14	sample	sample	NOUN
ajeer-220	218	15	period	period	NOUN
ajeer-220	218	16	(	(	PUNCT
ajeer-220	218	17	2009	2009	NUM
ajeer-220	218	18	to	to	ADP
ajeer-220	218	19	2013	2013	NUM
ajeer-220	218	20	)	)	PUNCT
ajeer-220	218	21	as	as	SCONJ
ajeer-220	218	22	the	the	DET
ajeer-220	218	23	uk	uk	PROPN
ajeer-220	218	24	economy	economy	NOUN
ajeer-220	218	25	was	be	AUX
ajeer-220	218	26	passing	pass	VERB
ajeer-220	218	27	through	through	ADP
ajeer-220	218	28	the	the	DET
ajeer-220	218	29	worst	bad	ADJ
ajeer-220	218	30	ever	ever	ADV
ajeer-220	218	31	recessionary	recessionary	ADJ
ajeer-220	218	32	period	period	NOUN
ajeer-220	218	33	during	during	ADP
ajeer-220	218	34	this	this	DET
ajeer-220	218	35	time	time	NOUN
ajeer-220	218	36	that	that	PRON
ajeer-220	218	37	brought	bring	VERB
ajeer-220	218	38	the	the	DET
ajeer-220	218	39	entire	entire	ADJ
ajeer-220	218	40	economic	economic	ADJ
ajeer-220	218	41	activities	activity	NOUN
ajeer-220	218	42	to	to	ADP
ajeer-220	218	43	almost	almost	ADV
ajeer-220	218	44	a	a	DET
ajeer-220	218	45	standstill	standstill	NOUN
ajeer-220	218	46	.	.	PUNCT
ajeer-220	219	1	as	as	ADP
ajeer-220	219	2	evident	evident	ADJ
ajeer-220	219	3	from	from	ADP
ajeer-220	219	4	the	the	DET
ajeer-220	219	5	findings	finding	NOUN
ajeer-220	219	6	of	of	ADP
ajeer-220	219	7	uddin	uddin	PROPN
ajeer-220	219	8	and	and	CCONJ
ajeer-220	219	9	boateng	boateng	PROPN
ajeer-220	219	10	(	(	PUNCT
ajeer-220	219	11	2011	2011	NUM
ajeer-220	219	12	)	)	PUNCT
ajeer-220	219	13	that	that	PRON
ajeer-220	219	14	gdp	gdp	NOUN
ajeer-220	219	15	,	,	PUNCT
ajeer-220	219	16	money	money	NOUN
ajeer-220	219	17	supply	supply	NOUN
ajeer-220	219	18	and	and	CCONJ
ajeer-220	219	19	share	share	NOUN
ajeer-220	219	20	price	price	NOUN
ajeer-220	219	21	has	have	VERB
ajeer-220	219	22	significant	significant	ADJ
ajeer-220	219	23	impact	impact	NOUN
ajeer-220	219	24	on	on	ADP
ajeer-220	219	25	the	the	DET
ajeer-220	219	26	cbm&as	cbm&as	ADJ
ajeer-220	219	27	activities	activity	NOUN
ajeer-220	219	28	in	in	ADP
ajeer-220	219	29	the	the	DET
ajeer-220	219	30	uk	uk	PROPN
ajeer-220	219	31	.	.	PUNCT
ajeer-220	220	1	they	they	PRON
ajeer-220	220	2	further	far	ADV
ajeer-220	220	3	argue	argue	VERB
ajeer-220	220	4	that	that	SCONJ
ajeer-220	220	5	managers	manager	NOUN
ajeer-220	220	6	need	need	VERB
ajeer-220	220	7	to	to	PART
ajeer-220	220	8	time	time	NOUN
ajeer-220	220	9	acquisitions	acquisition	NOUN
ajeer-220	220	10	activities	activity	NOUN
ajeer-220	220	11	with	with	ADP
ajeer-220	220	12	macrolevel	macrolevel	ADJ
ajeer-220	220	13	variables	variable	NOUN
ajeer-220	220	14	,	,	PUNCT
ajeer-220	220	15	i.e.	i.e.	X
ajeer-220	220	16	the	the	DET
ajeer-220	220	17	relative	relative	ADJ
ajeer-220	220	18	upward	upward	ADJ
ajeer-220	220	19	movement	movement	NOUN
ajeer-220	220	20	of	of	ADP
ajeer-220	220	21	gdp	gdp	NOUN
ajeer-220	220	22	,	,	PUNCT
ajeer-220	220	23	in	in	ADP
ajeer-220	220	24	order	order	NOUN
ajeer-220	220	25	to	to	PART
ajeer-220	220	26	make	make	VERB
ajeer-220	220	27	value	value	NOUN
ajeer-220	220	28	for	for	ADP
ajeer-220	220	29	shareholders	shareholder	NOUN
ajeer-220	220	30	.	.	PUNCT
ajeer-220	221	1	the	the	DET
ajeer-220	221	2	investigation	investigation	NOUN
ajeer-220	221	3	of	of	ADP
ajeer-220	221	4	the	the	DET
ajeer-220	221	5	underlying	underlie	VERB
ajeer-220	221	6	companies	company	NOUN
ajeer-220	221	7	stocks	stock	VERB
ajeer-220	221	8	through	through	ADP
ajeer-220	221	9	capm	capm	PROPN
ajeer-220	221	10	model	model	NOUN
ajeer-220	221	11	over	over	ADP
ajeer-220	221	12	the	the	DET
ajeer-220	221	13	58	58	NUM
ajeer-220	221	14	days	day	NOUN
ajeer-220	221	15	window	window	NOUN
ajeer-220	221	16	period	period	NOUN
ajeer-220	221	17	also	also	ADV
ajeer-220	221	18	proved	prove	VERB
ajeer-220	221	19	to	to	PART
ajeer-220	221	20	be	be	AUX
ajeer-220	221	21	insignificant	insignificant	ADJ
ajeer-220	221	22	statistically	statistically	ADV
ajeer-220	221	23	i.e.	i.e.	X
ajeer-220	221	24	the	the	DET
ajeer-220	221	25	stocks	stock	NOUN
ajeer-220	221	26	observed	observe	VERB
ajeer-220	221	27	an	an	DET
ajeer-220	221	28	insignificant	insignificant	ADJ
ajeer-220	221	29	abnormal	abnormal	ADJ
ajeer-220	221	30	return	return	NOUN
ajeer-220	221	31	over	over	ADP
ajeer-220	221	32	the	the	DET
ajeer-220	221	33	underlying	underlie	VERB
ajeer-220	221	34	58	58	NUM
ajeer-220	221	35	days	day	NOUN
ajeer-220	221	36	window	window	NOUN
ajeer-220	221	37	period	period	NOUN
ajeer-220	221	38	.	.	PUNCT
ajeer-220	222	1	this	this	PRON
ajeer-220	222	2	can	can	AUX
ajeer-220	222	3	also	also	ADV
ajeer-220	222	4	be	be	AUX
ajeer-220	222	5	the	the	DET
ajeer-220	222	6	result	result	NOUN
ajeer-220	222	7	of	of	ADP
ajeer-220	222	8	the	the	DET
ajeer-220	222	9	relative	relative	ADJ
ajeer-220	222	10	downward	downward	ADJ
ajeer-220	222	11	trend	trend	NOUN
ajeer-220	222	12	witnessed	witness	VERB
ajeer-220	222	13	in	in	ADP
ajeer-220	222	14	the	the	DET
ajeer-220	222	15	overall	overall	ADJ
ajeer-220	222	16	stocks	stock	NOUN
ajeer-220	222	17	market	market	NOUN
ajeer-220	222	18	during	during	ADP
ajeer-220	222	19	the	the	DET
ajeer-220	222	20	sampled	sample	VERB
ajeer-220	222	21	period	period	NOUN
ajeer-220	222	22	as	as	ADP
ajeer-220	222	23	grim	grim	ADJ
ajeer-220	222	24	economic	economic	ADJ
ajeer-220	222	25	indicators	indicator	NOUN
ajeer-220	222	26	were	be	AUX
ajeer-220	222	27	prevalent	prevalent	ADJ
ajeer-220	222	28	in	in	ADP
ajeer-220	222	29	the	the	DET
ajeer-220	222	30	uk	uk	PROPN
ajeer-220	222	31	,	,	PUNCT
ajeer-220	222	32	europe	europe	PROPN
ajeer-220	222	33	and	and	CCONJ
ajeer-220	222	34	usa	usa	PROPN
ajeer-220	222	35	in	in	ADP
ajeer-220	222	36	particular	particular	ADJ
ajeer-220	222	37	.	.	PUNCT
ajeer-220	223	1	moreover	moreover	ADV
ajeer-220	223	2	,	,	PUNCT
ajeer-220	223	3	mergers	merger	NOUN
ajeer-220	223	4	/	/	SYM
ajeer-220	223	5	acquisitions	acquisition	NOUN
ajeer-220	223	6	activities	activity	NOUN
ajeer-220	223	7	are	be	AUX
ajeer-220	223	8	being	be	AUX
ajeer-220	223	9	carried	carry	VERB
ajeer-220	223	10	out	out	ADP
ajeer-220	223	11	at	at	ADP
ajeer-220	223	12	a	a	DET
ajeer-220	223	13	larger	large	ADJ
ajeer-220	223	14	scale	scale	NOUN
ajeer-220	223	15	than	than	ADP
ajeer-220	223	16	ever	ever	ADV
ajeer-220	223	17	before	before	ADP
ajeer-220	223	18	as	as	ADP
ajeer-220	223	19	$	$	SYM
ajeer-220	223	20	467	467	NUM
ajeer-220	223	21	billion	billion	NUM
ajeer-220	223	22	worth	worth	NOUN
ajeer-220	223	23	of	of	ADP
ajeer-220	223	24	m&a	m&a	PROPN
ajeer-220	223	25	deals	deal	NOUN
ajeer-220	223	26	have	have	AUX
ajeer-220	223	27	been	be	AUX
ajeer-220	223	28	announced	announce	VERB
ajeer-220	223	29	in	in	ADP
ajeer-220	223	30	the	the	DET
ajeer-220	223	31	first	first	ADJ
ajeer-220	223	32	quarter	quarter	NOUN
ajeer-220	223	33	of	of	ADP
ajeer-220	223	34	2015	2015	NUM
ajeer-220	223	35	only	only	ADV
ajeer-220	223	36	(	(	PUNCT
ajeer-220	223	37	bloomberg	bloomberg	PROPN
ajeer-220	223	38	,	,	PUNCT
ajeer-220	223	39	2015	2015	NUM
ajeer-220	223	40	)	)	PUNCT
ajeer-220	223	41	therefore	therefore	ADV
ajeer-220	223	42	market	market	NOUN
ajeer-220	223	43	closely	closely	ADV
ajeer-220	223	44	observe	observe	VERB
ajeer-220	223	45	the	the	DET
ajeer-220	223	46	underlying	underlie	VERB
ajeer-220	223	47	cost	cost	NOUN
ajeer-220	223	48	of	of	ADP
ajeer-220	223	49	m&as	m&as	NOUN
ajeer-220	223	50	,	,	PUNCT
ajeer-220	223	51	the	the	DET
ajeer-220	223	52	potential	potential	ADJ
ajeer-220	223	53	synergies	synergy	NOUN
ajeer-220	223	54	and	and	CCONJ
ajeer-220	223	55	the	the	DET
ajeer-220	223	56	successful	successful	ADJ
ajeer-220	223	57	implementation	implementation	NOUN
ajeer-220	223	58	of	of	ADP
ajeer-220	223	59	the	the	DET
ajeer-220	223	60	integration	integration	NOUN
ajeer-220	223	61	process	process	NOUN
ajeer-220	223	62	.	.	PUNCT
ajeer-220	224	1	furthermore	furthermore	ADV
ajeer-220	224	2	,	,	PUNCT
ajeer-220	224	3	it	it	PRON
ajeer-220	224	4	becomes	become	VERB
ajeer-220	224	5	a	a	DET
ajeer-220	224	6	growing	grow	VERB
ajeer-220	224	7	concern	concern	NOUN
ajeer-220	224	8	in	in	ADP
ajeer-220	224	9	the	the	DET
ajeer-220	224	10	capital	capital	NOUN
ajeer-220	224	11	markets	market	NOUN
ajeer-220	224	12	across	across	ADP
ajeer-220	224	13	the	the	DET
ajeer-220	224	14	world	world	NOUN
ajeer-220	224	15	that	that	DET
ajeer-220	224	16	acquisition	acquisition	NOUN
ajeer-220	224	17	result	result	NOUN
ajeer-220	224	18	in	in	ADP
ajeer-220	224	19	the	the	DET
ajeer-220	224	20	sudden	sudden	ADJ
ajeer-220	224	21	fall	fall	NOUN
ajeer-220	224	22	of	of	ADP
ajeer-220	224	23	acquiring	acquire	VERB
ajeer-220	224	24	companies	company	NOUN
ajeer-220	224	25	stocks	stock	NOUN
ajeer-220	224	26	as	as	SCONJ
ajeer-220	224	27	investors	investor	NOUN
ajeer-220	224	28	fear	fear	VERB
ajeer-220	224	29	that	that	SCONJ
ajeer-220	224	30	the	the	DET
ajeer-220	224	31	potential	potential	ADJ
ajeer-220	224	32	synergy	synergy	NOUN
ajeer-220	224	33	as	as	ADP
ajeer-220	224	34	a	a	DET
ajeer-220	224	35	result	result	NOUN
ajeer-220	224	36	of	of	ADP
ajeer-220	224	37	m&as	m&as	NOUN
ajeer-220	224	38	may	may	AUX
ajeer-220	224	39	be	be	AUX
ajeer-220	224	40	of	of	ADP
ajeer-220	224	41	less	less	ADJ
ajeer-220	224	42	economic	economic	ADJ
ajeer-220	224	43	value	value	NOUN
ajeer-220	224	44	than	than	ADP
ajeer-220	224	45	the	the	DET
ajeer-220	224	46	premium	premium	NOUN
ajeer-220	224	47	they	they	PRON
ajeer-220	224	48	pay	pay	VERB
ajeer-220	224	49	to	to	ADP
ajeer-220	224	50	the	the	DET
ajeer-220	224	51	target	target	NOUN
ajeer-220	224	52	firms	firm	NOUN
ajeer-220	224	53	.	.	PUNCT
ajeer-220	225	1	hence	hence	ADV
ajeer-220	225	2	,	,	PUNCT
ajeer-220	225	3	the	the	DET
ajeer-220	225	4	outcomes	outcome	NOUN
ajeer-220	225	5	of	of	ADP
ajeer-220	225	6	campm	campm	PROPN
ajeer-220	225	7	in	in	ADP
ajeer-220	225	8	this	this	DET
ajeer-220	225	9	study	study	NOUN
ajeer-220	225	10	may	may	AUX
ajeer-220	225	11	also	also	ADV
ajeer-220	225	12	be	be	AUX
ajeer-220	225	13	the	the	DET
ajeer-220	225	14	result	result	NOUN
ajeer-220	225	15	of	of	ADP
ajeer-220	225	16	the	the	DET
ajeer-220	225	17	general	general	ADJ
ajeer-220	225	18	perception	perception	NOUN
ajeer-220	225	19	about	about	ADP
ajeer-220	225	20	m&as	m&as	PROPN
ajeer-220	225	21	prevalent	prevalent	ADJ
ajeer-220	225	22	in	in	ADP
ajeer-220	225	23	the	the	DET
ajeer-220	225	24	market	market	NOUN
ajeer-220	225	25	.	.	PUNCT
ajeer-220	226	1	contrary	contrary	ADJ
ajeer-220	226	2	to	to	ADP
ajeer-220	226	3	the	the	DET
ajeer-220	226	4	preceding	precede	VERB
ajeer-220	226	5	results	result	NOUN
ajeer-220	226	6	,	,	PUNCT
ajeer-220	226	7	aar	aar	NOUN
ajeer-220	226	8	(	(	PUNCT
ajeer-220	226	9	average	average	ADJ
ajeer-220	226	10	abnormal	abnormal	ADJ
ajeer-220	226	11	return	return	NOUN
ajeer-220	226	12	)	)	PUNCT
ajeer-220	226	13	exhibited	exhibit	VERB
ajeer-220	226	14	positive	positive	ADJ
ajeer-220	226	15	abnormal	abnormal	ADJ
ajeer-220	226	16	gain	gain	NOUN
ajeer-220	226	17	one	one	NUM
ajeer-220	226	18	week	week	NOUN
ajeer-220	226	19	prior	prior	ADV
ajeer-220	226	20	to	to	ADP
ajeer-220	226	21	acquisition	acquisition	NOUN
ajeer-220	226	22	date	date	NOUN
ajeer-220	226	23	which	which	PRON
ajeer-220	226	24	although	although	SCONJ
ajeer-220	226	25	did	do	AUX
ajeer-220	226	26	not	not	PART
ajeer-220	226	27	last	last	VERB
ajeer-220	226	28	long	long	ADV
ajeer-220	226	29	but	but	CCONJ
ajeer-220	226	30	yet	yet	ADV
ajeer-220	226	31	shows	show	VERB
ajeer-220	226	32	that	that	SCONJ
ajeer-220	226	33	market	market	NOUN
ajeer-220	226	34	receive	receive	VERB
ajeer-220	226	35	the	the	DET
ajeer-220	226	36	acquisitions	acquisition	NOUN
ajeer-220	226	37	news	news	NOUN
ajeer-220	226	38	positively	positively	ADV
ajeer-220	226	39	that	that	SCONJ
ajeer-220	226	40	in	in	ADP
ajeer-220	226	41	turn	turn	NOUN
ajeer-220	226	42	give	give	VERB
ajeer-220	226	43	rise	rise	NOUN
ajeer-220	226	44	to	to	ADP
ajeer-220	226	45	shareholders	shareholder	NOUN
ajeer-220	226	46	return	return	VERB
ajeer-220	226	47	in	in	ADP
ajeer-220	226	48	the	the	DET
ajeer-220	226	49	short	short	ADJ
ajeer-220	226	50	-	-	PUNCT
ajeer-220	226	51	run	run	NOUN
ajeer-220	226	52	.	.	PUNCT
ajeer-220	227	1	moreover	moreover	ADV
ajeer-220	227	2	,	,	PUNCT
ajeer-220	227	3	in	in	ADP
ajeer-220	227	4	the	the	DET
ajeer-220	227	5	post	post	ADJ
ajeer-220	227	6	-	-	ADJ
ajeer-220	227	7	acquisition	acquisition	ADJ
ajeer-220	227	8	announcement	announcement	NOUN
ajeer-220	227	9	period	period	NOUN
ajeer-220	227	10	abnormal	abnormal	ADJ
ajeer-220	227	11	return	return	NOUN
ajeer-220	227	12	was	be	AUX
ajeer-220	227	13	seen	see	VERB
ajeer-220	227	14	positive	positive	ADJ
ajeer-220	227	15	for	for	ADP
ajeer-220	227	16	almost	almost	ADV
ajeer-220	227	17	over	over	ADP
ajeer-220	227	18	two	two	NUM
ajeer-220	227	19	weeks	week	NOUN
ajeer-220	227	20	with	with	ADP
ajeer-220	227	21	slight	slight	ADJ
ajeer-220	227	22	variation	variation	NOUN
ajeer-220	227	23	that	that	PRON
ajeer-220	227	24	again	again	ADV
ajeer-220	227	25	reaffirm	reaffirm	VERB
ajeer-220	227	26	the	the	DET
ajeer-220	227	27	general	general	ADJ
ajeer-220	227	28	notions	notion	NOUN
ajeer-220	227	29	that	that	SCONJ
ajeer-220	227	30	the	the	DET
ajeer-220	227	31	uk	uk	PROPN
ajeer-220	227	32	acquiring	acquire	VERB
ajeer-220	227	33	companies	company	NOUN
ajeer-220	227	34	shareholders	shareholder	NOUN
ajeer-220	227	35	gain	gain	VERB
ajeer-220	227	36	in	in	ADP
ajeer-220	227	37	the	the	DET
ajeer-220	227	38	short	short	ADJ
ajeer-220	227	39	-	-	PUNCT
ajeer-220	227	40	term	term	NOUN
ajeer-220	227	41	as	as	ADP
ajeer-220	227	42	a	a	DET
ajeer-220	227	43	result	result	NOUN
ajeer-220	227	44	of	of	ADP
ajeer-220	227	45	acquisitions	acquisition	NOUN
ajeer-220	227	46	activities	activity	NOUN
ajeer-220	227	47	.	.	PUNCT
ajeer-220	228	1	nevertheless	nevertheless	ADV
ajeer-220	228	2	,	,	PUNCT
ajeer-220	228	3	the	the	DET
ajeer-220	228	4	results	result	NOUN
ajeer-220	228	5	of	of	ADP
ajeer-220	228	6	cumulative	cumulative	ADJ
ajeer-220	228	7	average	average	ADJ
ajeer-220	228	8	abnormal	abnormal	ADJ
ajeer-220	228	9	return	return	NOUN
ajeer-220	228	10	(	(	PUNCT
ajeer-220	228	11	caar	caar	NOUN
ajeer-220	228	12	)	)	PUNCT
ajeer-220	228	13	of	of	ADP
ajeer-220	228	14	this	this	DET
ajeer-220	228	15	study	study	NOUN
ajeer-220	228	16	is	be	AUX
ajeer-220	228	17	also	also	ADV
ajeer-220	228	18	consistent	consistent	ADJ
ajeer-220	228	19	with	with	ADP
ajeer-220	228	20	the	the	DET
ajeer-220	228	21	proceeding	proceeding	NOUN
ajeer-220	228	22	results	result	NOUN
ajeer-220	228	23	i.e.	i.e.	X
ajeer-220	228	24	both	both	CCONJ
ajeer-220	228	25	in	in	ADP
ajeer-220	228	26	pre	pre	ADJ
ajeer-220	228	27	and	and	CCONJ
ajeer-220	228	28	post	post	ADJ
ajeer-220	228	29	-	-	ADJ
ajeer-220	228	30	acquisition	acquisition	ADJ
ajeer-220	228	31	period	period	NOUN
ajeer-220	228	32	caar	caar	NOUN
ajeer-220	228	33	a	a	DET
ajeer-220	228	34	continuous	continuous	ADJ
ajeer-220	228	35	negative	negative	ADJ
ajeer-220	228	36	trend	trend	NOUN
ajeer-220	228	37	has	have	AUX
ajeer-220	228	38	been	be	AUX
ajeer-220	228	39	observed	observe	VERB
ajeer-220	228	40	in	in	ADP
ajeer-220	228	41	the	the	DET
ajeer-220	228	42	stocks	stock	NOUN
ajeer-220	228	43	return	return	VERB
ajeer-220	228	44	and	and	CCONJ
ajeer-220	228	45	that	that	PRON
ajeer-220	228	46	shows	show	VERB
ajeer-220	228	47	that	that	SCONJ
ajeer-220	228	48	market	market	NOUN
ajeer-220	228	49	did	do	AUX
ajeer-220	228	50	not	not	PART
ajeer-220	228	51	react	react	VERB
ajeer-220	228	52	positively	positively	ADV
ajeer-220	228	53	to	to	ADP
ajeer-220	228	54	the	the	DET
ajeer-220	228	55	announcement	announcement	NOUN
ajeer-220	228	56	of	of	ADP
ajeer-220	228	57	acquisition	acquisition	NOUN
ajeer-220	228	58	deals	deal	NOUN
ajeer-220	228	59	as	as	SCONJ
ajeer-220	228	60	supported	support	VERB
ajeer-220	228	61	by	by	ADP
ajeer-220	228	62	majority	majority	NOUN
ajeer-220	228	63	of	of	ADP
ajeer-220	228	64	the	the	DET
ajeer-220	228	65	literature	literature	NOUN
ajeer-220	228	66	.	.	PUNCT
ajeer-220	229	1	thus	thus	ADV
ajeer-220	229	2	the	the	DET
ajeer-220	229	3	findings	finding	NOUN
ajeer-220	229	4	of	of	ADP
ajeer-220	229	5	delaney	delaney	PROPN
ajeer-220	229	6	and	and	CCONJ
ajeer-220	229	7	wamuziri	wamuziri	NOUN
ajeer-220	229	8	(	(	PUNCT
ajeer-220	229	9	2004	2004	NUM
ajeer-220	229	10	)	)	PUNCT
ajeer-220	229	11	that	that	SCONJ
ajeer-220	229	12	uk	uk	PROPN
ajeer-220	229	13	shareholders	shareholder	NOUN
ajeer-220	229	14	gain	gain	VERB
ajeer-220	229	15	from	from	ADP
ajeer-220	229	16	acquisition	acquisition	NOUN
ajeer-220	229	17	activities	activity	NOUN
ajeer-220	229	18	in	in	ADP
ajeer-220	229	19	the	the	DET
ajeer-220	229	20	short	short	ADJ
ajeer-220	229	21	-	-	PUNCT
ajeer-220	229	22	term	term	NOUN
ajeer-220	229	23	can	can	AUX
ajeer-220	229	24	be	be	AUX
ajeer-220	229	25	ruled	rule	VERB
ajeer-220	229	26	out	out	ADP
ajeer-220	229	27	in	in	ADP
ajeer-220	229	28	the	the	DET
ajeer-220	229	29	context	context	NOUN
ajeer-220	229	30	of	of	ADP
ajeer-220	229	31	this	this	DET
ajeer-220	229	32	study	study	NOUN
ajeer-220	229	33	.	.	PUNCT
ajeer-220	230	1	the	the	DET
ajeer-220	230	2	outcomes	outcome	NOUN
ajeer-220	230	3	of	of	ADP
ajeer-220	230	4	the	the	DET
ajeer-220	230	5	caar	caar	NOUN
ajeer-220	230	6	in	in	ADP
ajeer-220	230	7	this	this	DET
ajeer-220	230	8	study	study	NOUN
ajeer-220	230	9	is	be	AUX
ajeer-220	230	10	also	also	ADV
ajeer-220	230	11	inconsistent	inconsistent	ADJ
ajeer-220	230	12	with	with	ADP
ajeer-220	230	13	the	the	DET
ajeer-220	230	14	findings	finding	NOUN
ajeer-220	230	15	of	of	ADP
ajeer-220	230	16	singla	singla	PROPN
ajeer-220	230	17	et	et	PROPN
ajeer-220	230	18	al	al	PROPN
ajeer-220	230	19	.	.	PROPN
ajeer-220	231	1	(	(	PUNCT
ajeer-220	231	2	2012	2012	NUM
ajeer-220	231	3	)	)	PUNCT
ajeer-220	231	4	who	who	PRON
ajeer-220	231	5	witnessed	witness	VERB
ajeer-220	231	6	abnormal	abnormal	ADJ
ajeer-220	231	7	cumulative	cumulative	ADJ
ajeer-220	231	8	return	return	NOUN
ajeer-220	231	9	in	in	ADP
ajeer-220	231	10	the	the	DET
ajeer-220	231	11	post	post	ADJ
ajeer-220	231	12	-	-	ADJ
ajeer-220	231	13	announcement	announcement	ADJ
ajeer-220	231	14	period	period	NOUN
ajeer-220	231	15	in	in	ADP
ajeer-220	231	16	the	the	DET
ajeer-220	231	17	context	context	NOUN
ajeer-220	231	18	of	of	ADP
ajeer-220	231	19	indian	indian	ADJ
ajeer-220	231	20	acquiring	acquire	VERB
ajeer-220	231	21	companies	company	NOUN
ajeer-220	231	22	.	.	PUNCT
ajeer-220	232	1	8	8	X
ajeer-220	232	2	.	.	X
ajeer-220	232	3	conclusion	conclusion	VERB
ajeer-220	232	4	the	the	DET
ajeer-220	232	5	analysis	analysis	NOUN
ajeer-220	232	6	of	of	ADP
ajeer-220	232	7	financial	financial	ADJ
ajeer-220	232	8	ratios	ratio	NOUN
ajeer-220	232	9	of	of	ADP
ajeer-220	232	10	profitability	profitability	NOUN
ajeer-220	232	11	,	,	PUNCT
ajeer-220	232	12	liquidity	liquidity	NOUN
ajeer-220	232	13	and	and	CCONJ
ajeer-220	232	14	solvency	solvency	NOUN
ajeer-220	232	15	of	of	ADP
ajeer-220	232	16	the	the	DET
ajeer-220	232	17	acquiring	acquire	VERB
ajeer-220	232	18	firms	firm	NOUN
ajeer-220	232	19	reveals	reveal	VERB
ajeer-220	232	20	no	no	DET
ajeer-220	232	21	significant	significant	ADJ
ajeer-220	232	22	change	change	NOUN
ajeer-220	232	23	.	.	PUNCT
ajeer-220	233	1	in	in	ADP
ajeer-220	233	2	other	other	ADJ
ajeer-220	233	3	words	word	NOUN
ajeer-220	233	4	neither	neither	CCONJ
ajeer-220	233	5	in	in	ADP
ajeer-220	233	6	the	the	DET
ajeer-220	233	7	pre	pre	ADJ
ajeer-220	233	8	-	-	ADJ
ajeer-220	233	9	acquisition	acquisition	ADJ
ajeer-220	233	10	period	period	NOUN
ajeer-220	233	11	nor	nor	CCONJ
ajeer-220	233	12	in	in	ADP
ajeer-220	233	13	the	the	DET
ajeer-220	233	14	post	post	ADJ
ajeer-220	233	15	-	-	ADJ
ajeer-220	233	16	acquisition	acquisition	ADJ
ajeer-220	233	17	period	period	NOUN
ajeer-220	233	18	has	have	VERB
ajeer-220	233	19	no	no	DET
ajeer-220	233	20	significant	significant	ADJ
ajeer-220	233	21	financial	financial	ADJ
ajeer-220	233	22	improvement	improvement	NOUN
ajeer-220	233	23	been	be	AUX
ajeer-220	233	24	observed	observe	VERB
ajeer-220	233	25	in	in	ADP
ajeer-220	233	26	the	the	DET
ajeer-220	233	27	financial	financial	ADJ
ajeer-220	233	28	performance	performance	NOUN
ajeer-220	233	29	of	of	ADP
ajeer-220	233	30	the	the	DET
ajeer-220	233	31	uk	uk	PROPN
ajeer-220	233	32	acquiring	acquire	VERB
ajeer-220	233	33	companies	company	NOUN
ajeer-220	233	34	.	.	PUNCT
ajeer-220	234	1	the	the	DET
ajeer-220	234	2	ratios	ratio	NOUN
ajeer-220	234	3	were	be	AUX
ajeer-220	234	4	also	also	ADV
ajeer-220	234	5	analysed	analyse	VERB
ajeer-220	234	6	using	use	VERB
ajeer-220	234	7	paired	pair	VERB
ajeer-220	234	8	t	t	NOUN
ajeer-220	234	9	-	-	PUNCT
ajeer-220	234	10	test	test	NOUN
ajeer-220	234	11	analysis	analysis	NOUN
ajeer-220	234	12	to	to	PART
ajeer-220	234	13	nullify	nullify	VERB
ajeer-220	234	14	the	the	DET
ajeer-220	234	15	effect	effect	NOUN
ajeer-220	234	16	of	of	ADP
ajeer-220	234	17	other	other	ADJ
ajeer-220	234	18	industrial	industrial	ADJ
ajeer-220	234	19	variables	variable	NOUN
ajeer-220	234	20	but	but	CCONJ
ajeer-220	234	21	none	none	NOUN
ajeer-220	234	22	of	of	ADP
ajeer-220	234	23	the	the	DET
ajeer-220	234	24	ratios	ratio	NOUN
ajeer-220	234	25	found	find	VERB
ajeer-220	234	26	to	to	PART
ajeer-220	234	27	be	be	AUX
ajeer-220	234	28	statistically	statistically	ADV
ajeer-220	234	29	significant	significant	ADJ
ajeer-220	234	30	.	.	PUNCT
ajeer-220	235	1	this	this	PRON
ajeer-220	235	2	can	can	AUX
ajeer-220	235	3	mainly	mainly	ADV
ajeer-220	235	4	be	be	AUX
ajeer-220	235	5	the	the	DET
ajeer-220	235	6	result	result	NOUN
ajeer-220	235	7	of	of	ADP
ajeer-220	235	8	the	the	DET
ajeer-220	235	9	general	general	ADJ
ajeer-220	235	10	economic	economic	ADJ
ajeer-220	235	11	downward	downward	NOUN
ajeer-220	235	12	of	of	ADP
ajeer-220	235	13	the	the	DET
ajeer-220	235	14	uk	uk	PROPN
ajeer-220	235	15	economy	economy	NOUN
ajeer-220	235	16	during	during	ADP
ajeer-220	235	17	2009	2009	NUM
ajeer-220	235	18	to	to	ADP
ajeer-220	235	19	2013	2013	NUM
ajeer-220	235	20	as	as	ADP
ajeer-220	235	21	a	a	DET
ajeer-220	235	22	result	result	NOUN
ajeer-220	235	23	of	of	ADP
ajeer-220	235	24	financial	financial	ADJ
ajeer-220	235	25	recession	recession	NOUN
ajeer-220	235	26	where	where	SCONJ
ajeer-220	235	27	big	big	ADJ
ajeer-220	235	28	corporations	corporation	NOUN
ajeer-220	235	29	in	in	ADP
ajeer-220	235	30	particular	particular	ADJ
ajeer-220	235	31	suffered	suffer	VERB
ajeer-220	235	32	severe	severe	ADJ
ajeer-220	235	33	financial	financial	ADJ
ajeer-220	235	34	problems	problem	NOUN
ajeer-220	235	35	across	across	ADP
ajeer-220	235	36	developed	developed	ADJ
ajeer-220	235	37	countries	country	NOUN
ajeer-220	235	38	’	'	PUNCT
ajeer-220	235	39	markets	market	NOUN
ajeer-220	235	40	.	.	PUNCT
ajeer-220	236	1	that	that	PRON
ajeer-220	236	2	is	be	AUX
ajeer-220	236	3	why	why	SCONJ
ajeer-220	236	4	the	the	DET
ajeer-220	236	5	acquiring	acquire	VERB
ajeer-220	236	6	companies	company	NOUN
ajeer-220	236	7	’	'	PUNCT
ajeer-220	236	8	pre	pre	ADJ
ajeer-220	236	9	-	-	ADJ
ajeer-220	236	10	acquisition	acquisition	ADJ
ajeer-220	236	11	financial	financial	ADJ
ajeer-220	236	12	position	position	NOUN
ajeer-220	236	13	could	could	AUX
ajeer-220	236	14	be	be	AUX
ajeer-220	236	15	the	the	DET
ajeer-220	236	16	result	result	NOUN
ajeer-220	236	17	of	of	ADP
ajeer-220	236	18	financial	financial	ADJ
ajeer-220	236	19	recession	recession	NOUN
ajeer-220	236	20	while	while	SCONJ
ajeer-220	236	21	the	the	DET
ajeer-220	236	22	post	post	ADJ
ajeer-220	236	23	-	-	ADJ
ajeer-220	236	24	acquisition	acquisition	ADJ
ajeer-220	236	25	financial	financial	ADJ
ajeer-220	236	26	performance	performance	NOUN
ajeer-220	236	27	can	can	AUX
ajeer-220	236	28	be	be	AUX
ajeer-220	236	29	contributable	contributable	ADJ
ajeer-220	236	30	to	to	ADP
ajeer-220	236	31	the	the	DET
ajeer-220	236	32	relative	relative	ADJ
ajeer-220	236	33	premium	premium	NOUN
ajeer-220	236	34	share	share	NOUN
ajeer-220	236	35	price	price	NOUN
ajeer-220	236	36	they	they	PRON
ajeer-220	236	37	pay	pay	VERB
ajeer-220	236	38	to	to	ADP
ajeer-220	236	39	the	the	DET
ajeer-220	236	40	target	target	NOUN
ajeer-220	236	41	companies	company	NOUN
ajeer-220	236	42	that	that	PRON
ajeer-220	236	43	result	result	VERB
ajeer-220	236	44	in	in	ADP
ajeer-220	236	45	higher	high	ADJ
ajeer-220	236	46	cost	cost	NOUN
ajeer-220	236	47	which	which	PRON
ajeer-220	236	48	can	can	AUX
ajeer-220	236	49	only	only	ADV
ajeer-220	236	50	be	be	AUX
ajeer-220	236	51	recovered	recover	VERB
ajeer-220	236	52	in	in	ADP
ajeer-220	236	53	the	the	DET
ajeer-220	236	54	longer	long	ADJ
ajeer-220	236	55	period	period	NOUN
ajeer-220	236	56	subject	subject	ADJ
ajeer-220	236	57	to	to	ADP
ajeer-220	236	58	acquiring	acquire	VERB
ajeer-220	236	59	companies	company	NOUN
ajeer-220	236	60	’	’	PART
ajeer-220	236	61	management	management	NOUN
ajeer-220	236	62	efficiency	efficiency	NOUN
ajeer-220	236	63	(	(	PUNCT
ajeer-220	236	64	goergen	goergen	NOUN
ajeer-220	236	65	and	and	CCONJ
ajeer-220	236	66	renneboog	renneboog	NOUN
ajeer-220	236	67	,	,	PUNCT
ajeer-220	236	68	2003	2003	NUM
ajeer-220	236	69	)	)	PUNCT
ajeer-220	236	70	.	.	PUNCT
ajeer-220	237	1	moreover	moreover	ADV
ajeer-220	237	2	,	,	PUNCT
ajeer-220	237	3	the	the	DET
ajeer-220	237	4	analysis	analysis	NOUN
ajeer-220	237	5	of	of	ADP
ajeer-220	237	6	the	the	DET
ajeer-220	237	7	acquiring	acquire	VERB
ajeer-220	237	8	companies	company	NOUN
ajeer-220	237	9	stocks	stock	NOUN
ajeer-220	237	10	through	through	ADP
ajeer-220	237	11	capm	capm	PROPN
ajeer-220	237	12	model	model	NOUN
ajeer-220	237	13	over	over	ADP
ajeer-220	237	14	58	58	NUM
ajeer-220	237	15	days	day	NOUN
ajeer-220	237	16	window	window	NOUN
ajeer-220	237	17	period	period	NOUN
ajeer-220	237	18	,	,	PUNCT
ajeer-220	237	19	i.e.	i.e.	X
ajeer-220	237	20	29	29	NUM
ajeer-220	237	21	days	day	NOUN
ajeer-220	237	22	prior	prior	ADV
ajeer-220	237	23	to	to	ADP
ajeer-220	237	24	acquisition	acquisition	NOUN
ajeer-220	237	25	and	and	CCONJ
ajeer-220	237	26	29	29	NUM
ajeer-220	237	27	days	day	NOUN
ajeer-220	237	28	after	after	ADP
ajeer-220	237	29	the	the	DET
ajeer-220	237	30	acquisition	acquisition	NOUN
ajeer-220	237	31	,	,	PUNCT
ajeer-220	237	32	reveals	reveal	VERB
ajeer-220	237	33	no	no	DET
ajeer-220	237	34	abnormal	abnormal	ADJ
ajeer-220	237	35	average	average	ADJ
ajeer-220	237	36	return	return	NOUN
ajeer-220	237	37	during	during	ADP
ajeer-220	237	38	all	all	DET
ajeer-220	237	39	the	the	DET
ajeer-220	237	40	58	58	NUM
ajeer-220	237	41	days	day	NOUN
ajeer-220	237	42	event	event	NOUN
ajeer-220	237	43	window	window	NOUN
ajeer-220	237	44	further	far	ADV
ajeer-220	237	45	confirm	confirm	VERB
ajeer-220	237	46	that	that	SCONJ
ajeer-220	237	47	no	no	DET
ajeer-220	237	48	significant	significant	ADJ
ajeer-220	237	49	gain	gain	NOUN
ajeer-220	237	50	was	be	AUX
ajeer-220	237	51	made	make	VERB
ajeer-220	237	52	by	by	ADP
ajeer-220	237	53	the	the	DET
ajeer-220	237	54	uk	uk	PROPN
ajeer-220	237	55	shareholders	shareholder	NOUN
ajeer-220	237	56	as	as	ADP
ajeer-220	237	57	a	a	DET
ajeer-220	237	58	result	result	NOUN
ajeer-220	237	59	of	of	ADP
ajeer-220	237	60	the	the	DET
ajeer-220	237	61	underlying	underlying	ADJ
ajeer-220	237	62	acquisitions	acquisition	NOUN
ajeer-220	237	63	activities	activity	NOUN
ajeer-220	237	64	.	.	PUNCT
ajeer-220	238	1	this	this	PRON
ajeer-220	238	2	can	can	AUX
ajeer-220	238	3	be	be	AUX
ajeer-220	238	4	contributable	contributable	ADJ
ajeer-220	238	5	to	to	ADP
ajeer-220	238	6	the	the	DET
ajeer-220	238	7	fact	fact	NOUN
ajeer-220	238	8	that	that	SCONJ
ajeer-220	238	9	greater	great	ADJ
ajeer-220	238	10	number	number	NOUN
ajeer-220	238	11	of	of	ADP
ajeer-220	238	12	m&as	m&as	NOUN
ajeer-220	238	13	are	be	AUX
ajeer-220	238	14	being	be	AUX
ajeer-220	238	15	carried	carry	VERB
ajeer-220	238	16	out	out	ADP
ajeer-220	238	17	in	in	ADP
ajeer-220	238	18	the	the	DET
ajeer-220	238	19	uk	uk	PROPN
ajeer-220	238	20	therefore	therefore	ADV
ajeer-220	238	21	the	the	DET
ajeer-220	238	22	market	market	NOUN
ajeer-220	238	23	do	do	AUX
ajeer-220	238	24	not	not	PART
ajeer-220	238	25	react	react	VERB
ajeer-220	238	26	instantly	instantly	ADV
ajeer-220	238	27	to	to	ADP
ajeer-220	238	28	the	the	DET
ajeer-220	238	29	news	news	NOUN
ajeer-220	238	30	as	as	SCONJ
ajeer-220	238	31	acquisitions	acquisition	NOUN
ajeer-220	238	32	are	be	AUX
ajeer-220	238	33	often	often	ADV
ajeer-220	238	34	being	be	AUX
ajeer-220	238	35	viewed	view	VERB
ajeer-220	238	36	by	by	ADP
ajeer-220	238	37	investors	investor	NOUN
ajeer-220	238	38	as	as	ADP
ajeer-220	238	39	long	long	ADJ
ajeer-220	238	40	term	term	NOUN
ajeer-220	238	41	process	process	NOUN
ajeer-220	238	42	that	that	PRON
ajeer-220	238	43	takes	take	VERB
ajeer-220	238	44	considerably	considerably	ADV
ajeer-220	238	45	longer	long	ADV
ajeer-220	238	46	to	to	PART
ajeer-220	238	47	result	result	VERB
ajeer-220	238	48	in	in	ADP
ajeer-220	238	49	profitability	profitability	NOUN
ajeer-220	238	50	(	(	PUNCT
ajeer-220	238	51	chanmugam	chanmugam	NOUN
ajeer-220	238	52	et	et	PROPN
ajeer-220	238	53	al	al	PROPN
ajeer-220	238	54	.	.	PROPN
ajeer-220	238	55	,	,	PUNCT
ajeer-220	238	56	2005	2005	NUM
ajeer-220	238	57	)	)	PUNCT
ajeer-220	238	58	.	.	PUNCT
ajeer-220	239	1	secondly	secondly	ADV
ajeer-220	239	2	,	,	PUNCT
ajeer-220	239	3	during	during	ADP
ajeer-220	239	4	the	the	DET
ajeer-220	239	5	sampled	sampled	ADJ
ajeer-220	239	6	period	period	NOUN
ajeer-220	239	7	most	most	ADJ
ajeer-220	239	8	of	of	ADP
ajeer-220	239	9	the	the	DET
ajeer-220	239	10	companies	company	NOUN
ajeer-220	239	11	’	'	PUNCT
ajeer-220	239	12	stocks	stock	NOUN
ajeer-220	239	13	experienced	experience	VERB
ajeer-220	239	14	downward	downward	ADJ
ajeer-220	239	15	trend	trend	NOUN
ajeer-220	239	16	as	as	ADP
ajeer-220	239	17	a	a	DET
ajeer-220	239	18	result	result	NOUN
ajeer-220	239	19	of	of	ADP
ajeer-220	239	20	financial	financial	ADJ
ajeer-220	239	21	recession	recession	NOUN
ajeer-220	239	22	in	in	ADP
ajeer-220	239	23	the	the	DET
ajeer-220	239	24	uk	uk	PROPN
ajeer-220	239	25	hence	hence	ADV
ajeer-220	239	26	this	this	PRON
ajeer-220	239	27	could	could	AUX
ajeer-220	239	28	have	have	VERB
ajeer-220	239	29	greater	great	ADJ
ajeer-220	239	30	influence	influence	NOUN
ajeer-220	239	31	on	on	ADP
ajeer-220	239	32	the	the	DET
ajeer-220	239	33	analysis	analysis	NOUN
ajeer-220	239	34	.	.	PUNCT
ajeer-220	240	1	moreover	moreover	ADV
ajeer-220	240	2	,	,	PUNCT
ajeer-220	240	3	the	the	DET
ajeer-220	240	4	cumulative	cumulative	ADJ
ajeer-220	240	5	average	average	ADJ
ajeer-220	240	6	abnormal	abnormal	ADJ
ajeer-220	240	7	return	return	NOUN
ajeer-220	240	8	(	(	PUNCT
ajeer-220	240	9	caar	caar	NOUN
ajeer-220	240	10	)	)	PUNCT
ajeer-220	240	11	of	of	ADP
ajeer-220	240	12	the	the	DET
ajeer-220	240	13	acquiring	acquire	VERB
ajeer-220	240	14	companies	company	NOUN
ajeer-220	240	15	showed	show	VERB
ajeer-220	240	16	consistent	consistent	ADJ
ajeer-220	240	17	negative	negative	ADJ
ajeer-220	240	18	return	return	NOUN
ajeer-220	240	19	over	over	ADP
ajeer-220	240	20	the	the	DET
ajeer-220	240	21	entire	entire	ADJ
ajeer-220	240	22	period	period	NOUN
ajeer-220	240	23	of	of	ADP
ajeer-220	240	24	58	58	NUM
ajeer-220	240	25	days	day	NOUN
ajeer-220	240	26	window	window	NOUN
ajeer-220	240	27	period	period	NOUN
ajeer-220	240	28	before	before	ADP
ajeer-220	240	29	and	and	CCONJ
ajeer-220	240	30	after	after	ADP
ajeer-220	240	31	acquisition	acquisition	NOUN
ajeer-220	240	32	announcement	announcement	NOUN
ajeer-220	240	33	.	.	PUNCT
ajeer-220	241	1	however	however	ADV
ajeer-220	241	2	,	,	PUNCT
ajeer-220	241	3	aar	aar	PROPN
ajeer-220	241	4	result	result	NOUN
ajeer-220	241	5	showed	show	VERB
ajeer-220	241	6	positive	positive	ADJ
ajeer-220	241	7	trend	trend	NOUN
ajeer-220	241	8	prior	prior	ADV
ajeer-220	241	9	to	to	ADP
ajeer-220	241	10	acquisition	acquisition	NOUN
ajeer-220	241	11	announcement	announcement	NOUN
ajeer-220	241	12	and	and	CCONJ
ajeer-220	241	13	after	after	ADP
ajeer-220	241	14	acquisition	acquisition	NOUN
ajeer-220	241	15	period	period	NOUN
ajeer-220	241	16	but	but	CCONJ
ajeer-220	241	17	did	do	AUX
ajeer-220	241	18	not	not	PART
ajeer-220	241	19	last	last	VERB
ajeer-220	241	20	long	long	ADV
ajeer-220	242	1	but	but	CCONJ
ajeer-220	242	2	yet	yet	ADV
ajeer-220	242	3	it	it	PRON
ajeer-220	242	4	can	can	AUX
ajeer-220	242	5	be	be	AUX
ajeer-220	242	6	established	establish	VERB
ajeer-220	242	7	,	,	PUNCT
ajeer-220	242	8	at	at	ADP
ajeer-220	242	9	least	least	ADJ
ajeer-220	242	10	in	in	ADP
ajeer-220	242	11	the	the	DET
ajeer-220	242	12	context	context	NOUN
ajeer-220	242	13	of	of	ADP
ajeer-220	242	14	aar	aar	NOUN
ajeer-220	242	15	analysis	analysis	NOUN
ajeer-220	242	16	,	,	PUNCT
ajeer-220	242	17	that	that	SCONJ
ajeer-220	242	18	shareholders	shareholder	NOUN
ajeer-220	242	19	had	have	VERB
ajeer-220	242	20	a	a	DET
ajeer-220	242	21	marginal	marginal	ADJ
ajeer-220	242	22	gain	gain	NOUN
ajeer-220	242	23	over	over	ADP
ajeer-220	242	24	the	the	DET
ajeer-220	242	25	short	short	ADJ
ajeer-220	242	26	-	-	PUNCT
ajeer-220	242	27	term	term	NOUN
ajeer-220	242	28	period	period	NOUN
ajeer-220	242	29	before	before	ADP
ajeer-220	242	30	and	and	CCONJ
ajeer-220	242	31	after	after	ADP
ajeer-220	242	32	acquisitions	acquisition	NOUN
ajeer-220	242	33	.	.	PUNCT
ajeer-220	243	1	the	the	DET
ajeer-220	243	2	outcomes	outcome	NOUN
ajeer-220	243	3	of	of	ADP
ajeer-220	243	4	the	the	DET
ajeer-220	243	5	caar	caar	NOUN
ajeer-220	243	6	in	in	ADP
ajeer-220	243	7	this	this	DET
ajeer-220	243	8	study	study	NOUN
ajeer-220	243	9	however	however	ADV
ajeer-220	243	10	are	be	AUX
ajeer-220	243	11	not	not	PART
ajeer-220	243	12	consistent	consistent	ADJ
ajeer-220	243	13	with	with	ADP
ajeer-220	243	14	the	the	DET
ajeer-220	243	15	findings	finding	NOUN
ajeer-220	243	16	of	of	ADP
ajeer-220	243	17	several	several	ADJ
ajeer-220	243	18	asian	asian	ADJ
ajeer-220	243	19	journal	journal	NOUN
ajeer-220	243	20	of	of	ADP
ajeer-220	243	21	economics	economic	NOUN
ajeer-220	243	22	and	and	CCONJ
ajeer-220	243	23	empirical	empirical	ADJ
ajeer-220	243	24	research	research	NOUN
ajeer-220	243	25	,	,	PUNCT
ajeer-220	243	26	2016	2016	NUM
ajeer-220	243	27	,	,	PUNCT
ajeer-220	243	28	3(2):130	3(2):130	NUM
ajeer-220	243	29	-	-	SYM
ajeer-220	243	30	138	138	NUM
ajeer-220	243	31	137	137	NUM
ajeer-220	243	32	researchers	researcher	NOUN
ajeer-220	243	33	such	such	ADJ
ajeer-220	243	34	as	as	ADP
ajeer-220	243	35	delaney	delaney	NOUN
ajeer-220	243	36	and	and	CCONJ
ajeer-220	243	37	wamuziri	wamuziri	NOUN
ajeer-220	243	38	(	(	PUNCT
ajeer-220	243	39	2004	2004	NUM
ajeer-220	243	40	)	)	PUNCT
ajeer-220	243	41	;	;	PUNCT
ajeer-220	243	42	boyer	boyer	PROPN
ajeer-220	243	43	and	and	CCONJ
ajeer-220	243	44	choi	choi	PROPN
ajeer-220	243	45	(	(	PUNCT
ajeer-220	243	46	2007	2007	NUM
ajeer-220	243	47	)	)	PUNCT
ajeer-220	243	48	;	;	PUNCT
ajeer-220	244	1	hassan	hassan	PROPN
ajeer-220	244	2	et	et	PROPN
ajeer-220	244	3	al	al	PROPN
ajeer-220	244	4	.	.	PROPN
ajeer-220	244	5	(	(	PUNCT
ajeer-220	244	6	2004	2004	NUM
ajeer-220	244	7	)	)	PUNCT
ajeer-220	244	8	and	and	CCONJ
ajeer-220	244	9	singla	singla	ADV
ajeer-220	244	10	et	et	PROPN
ajeer-220	244	11	al	al	PROPN
ajeer-220	244	12	.	.	PROPN
ajeer-220	245	1	(	(	PUNCT
ajeer-220	245	2	2012	2012	NUM
ajeer-220	245	3	)	)	PUNCT
ajeer-220	245	4	who	who	PRON
ajeer-220	245	5	empirically	empirically	ADV
ajeer-220	245	6	support	support	VERB
ajeer-220	245	7	that	that	SCONJ
ajeer-220	245	8	mergers	merger	NOUN
ajeer-220	245	9	/	/	SYM
ajeer-220	245	10	acquisitions	acquisition	NOUN
ajeer-220	245	11	result	result	NOUN
ajeer-220	245	12	in	in	ADP
ajeer-220	245	13	short	short	ADJ
ajeer-220	245	14	-	-	PUNCT
ajeer-220	245	15	term	term	NOUN
ajeer-220	245	16	gain	gain	NOUN
ajeer-220	245	17	for	for	ADP
ajeer-220	245	18	shareholders	shareholder	NOUN
ajeer-220	245	19	.	.	PUNCT
ajeer-220	246	1	references	reference	NOUN
ajeer-220	246	2	ahammad	ahammad	PROPN
ajeer-220	246	3	,	,	PUNCT
ajeer-220	246	4	f.m	f.m	PROPN
ajeer-220	246	5	.	.	PROPN
ajeer-220	246	6	and	and	CCONJ
ajeer-220	246	7	w.k	w.k	PROPN
ajeer-220	246	8	.	.	PROPN
ajeer-220	246	9	glaister	glaister	NOUN
ajeer-220	246	10	,	,	PUNCT
ajeer-220	246	11	2008	2008	NUM
ajeer-220	246	12	.	.	PUNCT
ajeer-220	247	1	recent	recent	ADJ
ajeer-220	247	2	trends	trend	NOUN
ajeer-220	247	3	in	in	ADP
ajeer-220	247	4	uk	uk	PROPN
ajeer-220	247	5	cross	cross	ADJ
ajeer-220	247	6	-	-	ADJ
ajeer-220	247	7	border	border	ADJ
ajeer-220	247	8	mergers	merger	NOUN
ajeer-220	247	9	and	and	CCONJ
ajeer-220	247	10	acquisitions	acquisition	NOUN
ajeer-220	247	11	.	.	PUNCT
ajeer-220	248	1	management	management	NOUN
ajeer-220	248	2	research	research	NOUN
ajeer-220	248	3	news	news	PROPN
ajeer-220	248	4	,	,	PUNCT
ajeer-220	248	5	31(2	31(2	NUM
ajeer-220	248	6	):	):	PUNCT
ajeer-220	248	7	8698	8698	NUM
ajeer-220	248	8	.	.	PUNCT
ajeer-220	249	1	bloomberg	bloomberg	PROPN
ajeer-220	249	2	,	,	PUNCT
ajeer-220	249	3	2015	2015	NUM
ajeer-220	249	4	.	.	PUNCT
ajeer-220	250	1	smartphones	smartphone	NOUN
ajeer-220	250	2	on	on	ADP
ajeer-220	250	3	the	the	DET
ajeer-220	250	4	beach	beach	NOUN
ajeer-220	250	5	for	for	ADP
ajeer-220	250	6	london	london	PROPN
ajeer-220	250	7	dealmakers	dealmaker	NOUN
ajeer-220	250	8	sweating	sweat	VERB
ajeer-220	250	9	m&a	m&a	PROPN
ajeer-220	250	10	boom	boom	NOUN
ajeer-220	250	11	.	.	PUNCT
ajeer-220	251	1	retrieved	retrieve	VERB
ajeer-220	251	2	from	from	ADP
ajeer-220	251	3	http://www.bloomberg.com/news/articles/2015-08-04/smartphones-on-the-beach-for-london-dealmakers-sweating-m-a-boom	http://www.bloomberg.com/news/articles/2015-08-04/smartphones-on-the-beach-for-london-dealmakers-sweating-m-a-boom	NOUN
ajeer-220	251	4	[	[	X
ajeer-220	251	5	accessed	access	VERB
ajeer-220	251	6	8th	8th	ADJ
ajeer-220	251	7	august	august	PROPN
ajeer-220	251	8	2015	2015	NUM
ajeer-220	251	9	]	]	PUNCT
ajeer-220	251	10	.	.	PUNCT
ajeer-220	252	1	borhan	borhan	PROPN
ajeer-220	252	2	,	,	PUNCT
ajeer-220	252	3	h.	h.	PROPN
ajeer-220	252	4	,	,	PUNCT
ajeer-220	252	5	n.r	n.r	PROPN
ajeer-220	252	6	.	.	PROPN
ajeer-220	252	7	mohamed	mohamed	PROPN
ajeer-220	252	8	and	and	CCONJ
ajeer-220	252	9	n.	n.	PROPN
ajeer-220	252	10	azmi	azmi	PROPN
ajeer-220	252	11	,	,	PUNCT
ajeer-220	252	12	2014	2014	NUM
ajeer-220	252	13	.	.	PUNCT
ajeer-220	253	1	the	the	DET
ajeer-220	253	2	impact	impact	NOUN
ajeer-220	253	3	of	of	ADP
ajeer-220	253	4	financial	financial	ADJ
ajeer-220	253	5	ratios	ratio	NOUN
ajeer-220	253	6	on	on	ADP
ajeer-220	253	7	the	the	DET
ajeer-220	253	8	financial	financial	ADJ
ajeer-220	253	9	performance	performance	NOUN
ajeer-220	253	10	of	of	ADP
ajeer-220	253	11	a	a	DET
ajeer-220	253	12	chemical	chemical	NOUN
ajeer-220	253	13	company	company	NOUN
ajeer-220	253	14	.	.	PUNCT
ajeer-220	254	1	world	world	PROPN
ajeer-220	254	2	journal	journal	PROPN
ajeer-220	254	3	of	of	ADP
ajeer-220	254	4	entrepreneurship	entrepreneurship	NOUN
ajeer-220	254	5	,	,	PUNCT
ajeer-220	254	6	management	management	NOUN
ajeer-220	254	7	and	and	CCONJ
ajeer-220	254	8	sustainable	sustainable	ADJ
ajeer-220	254	9	development	development	NOUN
ajeer-220	254	10	,	,	PUNCT
ajeer-220	254	11	10(2	10(2	NUM
ajeer-220	254	12	):	):	PUNCT
ajeer-220	254	13	154	154	NUM
ajeer-220	254	14	-	-	SYM
ajeer-220	254	15	160	160	NUM
ajeer-220	254	16	.	.	PUNCT
ajeer-220	255	1	boyer	boyer	PROPN
ajeer-220	255	2	,	,	PUNCT
ajeer-220	255	3	c.e	c.e	PROPN
ajeer-220	255	4	.	.	PROPN
ajeer-220	255	5	and	and	CCONJ
ajeer-220	255	6	j.j	j.j	PROPN
ajeer-220	255	7	.	.	PROPN
ajeer-220	255	8	choi	choi	PROPN
ajeer-220	255	9	,	,	PUNCT
ajeer-220	255	10	2007	2007	NUM
ajeer-220	255	11	.	.	PUNCT
ajeer-220	256	1	mergers	merger	NOUN
ajeer-220	256	2	and	and	CCONJ
ajeer-220	256	3	consolidation	consolidation	NOUN
ajeer-220	256	4	of	of	ADP
ajeer-220	256	5	financial	financial	ADJ
ajeer-220	256	6	service	service	NOUN
ajeer-220	256	7	firms	firm	NOUN
ajeer-220	256	8	:	:	PUNCT
ajeer-220	256	9	global	global	ADJ
ajeer-220	256	10	trends	trend	NOUN
ajeer-220	256	11	and	and	CCONJ
ajeer-220	256	12	strategies	strategy	NOUN
ajeer-220	256	13	for	for	ADP
ajeer-220	256	14	value	value	NOUN
ajeer-220	256	15	creation	creation	NOUN
ajeer-220	256	16	.	.	PUNCT
ajeer-220	257	1	international	international	ADJ
ajeer-220	257	2	financial	financial	PROPN
ajeer-220	257	3	review	review	NOUN
ajeer-220	257	4	,	,	PUNCT
ajeer-220	257	5	7	7	NUM
ajeer-220	257	6	:	:	SYM
ajeer-220	257	7	393	393	NUM
ajeer-220	257	8	-	-	SYM
ajeer-220	257	9	417	417	NUM
ajeer-220	257	10	.	.	PUNCT
ajeer-220	258	1	chanmugam	chanmugam	PROPN
ajeer-220	258	2	,	,	PUNCT
ajeer-220	258	3	r.	r.	PROPN
ajeer-220	258	4	,	,	PUNCT
ajeer-220	258	5	w.	w.	PROPN
ajeer-220	258	6	shill	shill	PROPN
ajeer-220	258	7	,	,	PUNCT
ajeer-220	258	8	d.	d.	PROPN
ajeer-220	258	9	mann	mann	PROPN
ajeer-220	258	10	,	,	PUNCT
ajeer-220	258	11	k.	k.	PROPN
ajeer-220	258	12	ficery	ficery	PROPN
ajeer-220	258	13	and	and	CCONJ
ajeer-220	258	14	b.	b.	PROPN
ajeer-220	258	15	pursche	pursche	PROPN
ajeer-220	258	16	,	,	PUNCT
ajeer-220	258	17	2005	2005	NUM
ajeer-220	258	18	.	.	PUNCT
ajeer-220	259	1	the	the	DET
ajeer-220	259	2	intelligent	intelligent	ADJ
ajeer-220	259	3	clean	clean	ADJ
ajeer-220	259	4	room	room	NOUN
ajeer-220	259	5	:	:	PUNCT
ajeer-220	259	6	ensuring	ensure	VERB
ajeer-220	259	7	value	value	NOUN
ajeer-220	259	8	capture	capture	NOUN
ajeer-220	259	9	in	in	ADP
ajeer-220	259	10	merger	merger	NOUN
ajeer-220	259	11	and	and	CCONJ
ajeer-220	259	12	acqusition	acqusition	NOUN
ajeer-220	259	13	.	.	PUNCT
ajeer-220	260	1	journal	journal	PROPN
ajeer-220	260	2	of	of	ADP
ajeer-220	260	3	business	business	NOUN
ajeer-220	260	4	strategy	strategy	NOUN
ajeer-220	260	5	,	,	PUNCT
ajeer-220	260	6	26(3	26(3	NUM
ajeer-220	260	7	):	):	PUNCT
ajeer-220	260	8	43	43	NUM
ajeer-220	260	9	-	-	SYM
ajeer-220	260	10	49	49	NUM
ajeer-220	260	11	.	.	PUNCT
ajeer-220	261	1	danbolt	danbolt	NOUN
ajeer-220	261	2	,	,	PUNCT
ajeer-220	261	3	j.	j.	PROPN
ajeer-220	261	4	,	,	PUNCT
ajeer-220	261	5	2004	2004	NUM
ajeer-220	261	6	.	.	PUNCT
ajeer-220	262	1	target	target	NOUN
ajeer-220	262	2	company	company	NOUN
ajeer-220	262	3	cross	cross	ADJ
ajeer-220	262	4	-	-	ADJ
ajeer-220	262	5	border	border	ADJ
ajeer-220	262	6	effects	effect	NOUN
ajeer-220	262	7	in	in	ADP
ajeer-220	262	8	acquisitions	acquisition	NOUN
ajeer-220	262	9	into	into	ADP
ajeer-220	262	10	the	the	DET
ajeer-220	262	11	uk	uk	PROPN
ajeer-220	262	12	.	.	PROPN
ajeer-220	262	13	european	european	PROPN
ajeer-220	262	14	financial	financial	ADJ
ajeer-220	262	15	management	management	NOUN
ajeer-220	262	16	,	,	PUNCT
ajeer-220	262	17	10(1	10(1	NUM
ajeer-220	262	18	):	):	PUNCT
ajeer-220	262	19	83	83	NUM
ajeer-220	262	20	-	-	SYM
ajeer-220	262	21	108	108	NUM
ajeer-220	262	22	.	.	PUNCT
ajeer-220	263	1	delaney	delaney	PROPN
ajeer-220	263	2	,	,	PUNCT
ajeer-220	263	3	f.t	f.t	PROPN
ajeer-220	263	4	.	.	PROPN
ajeer-220	263	5	and	and	CCONJ
ajeer-220	263	6	s.c	s.c	PROPN
ajeer-220	263	7	.	.	PROPN
ajeer-220	263	8	wamuziri	wamuziri	PROPN
ajeer-220	263	9	,	,	PUNCT
ajeer-220	263	10	2004	2004	NUM
ajeer-220	263	11	.	.	PUNCT
ajeer-220	264	1	the	the	DET
ajeer-220	264	2	impact	impact	NOUN
ajeer-220	264	3	of	of	ADP
ajeer-220	264	4	mergers	merger	NOUN
ajeer-220	264	5	and	and	CCONJ
ajeer-220	264	6	acquisitions	acquisition	NOUN
ajeer-220	264	7	on	on	ADP
ajeer-220	264	8	shareholder	shareholder	NOUN
ajeer-220	264	9	wealth	wealth	NOUN
ajeer-220	264	10	in	in	ADP
ajeer-220	264	11	the	the	DET
ajeer-220	264	12	uk	uk	PROPN
ajeer-220	264	13	construction	construction	NOUN
ajeer-220	264	14	industry	industry	NOUN
ajeer-220	264	15	.	.	PUNCT
ajeer-220	265	1	engineering	engineering	NOUN
ajeer-220	265	2	,	,	PUNCT
ajeer-220	265	3	construction	construction	NOUN
ajeer-220	265	4	and	and	CCONJ
ajeer-220	265	5	architectural	architectural	ADJ
ajeer-220	265	6	management	management	NOUN
ajeer-220	265	7	,	,	PUNCT
ajeer-220	265	8	11(1	11(1	NUM
ajeer-220	265	9	):	):	PUNCT
ajeer-220	265	10	65	65	NUM
ajeer-220	265	11	-	-	SYM
ajeer-220	265	12	73	73	NUM
ajeer-220	265	13	.	.	PUNCT
ajeer-220	266	1	du	du	PROPN
ajeer-220	266	2	,	,	PUNCT
ajeer-220	266	3	m.	m.	NOUN
ajeer-220	266	4	and	and	CCONJ
ajeer-220	266	5	a.	a.	NOUN
ajeer-220	266	6	boateng	boateng	PROPN
ajeer-220	266	7	,	,	PUNCT
ajeer-220	266	8	2014	2014	NUM
ajeer-220	266	9	.	.	PUNCT
ajeer-220	267	1	state	state	NOUN
ajeer-220	267	2	ownership	ownership	NOUN
ajeer-220	267	3	,	,	PUNCT
ajeer-220	267	4	institutional	institutional	ADJ
ajeer-220	267	5	effects	effect	NOUN
ajeer-220	267	6	and	and	CCONJ
ajeer-220	267	7	value	value	NOUN
ajeer-220	267	8	creation	creation	NOUN
ajeer-220	267	9	in	in	ADP
ajeer-220	267	10	cross	cross	ADJ
ajeer-220	267	11	-	-	ADJ
ajeer-220	267	12	border	border	ADJ
ajeer-220	267	13	merger	merger	NOUN
ajeer-220	267	14	&	&	CCONJ
ajeer-220	267	15	acquisitions	acquisition	NOUN
ajeer-220	267	16	by	by	ADP
ajeer-220	267	17	chinese	chinese	ADJ
ajeer-220	267	18	firm	firm	NOUN
ajeer-220	267	19	.	.	PUNCT
ajeer-220	268	1	international	international	ADJ
ajeer-220	268	2	business	business	PROPN
ajeer-220	268	3	review	review	PROPN
ajeer-220	268	4	,	,	PUNCT
ajeer-220	268	5	24(3	24(3	NUM
ajeer-220	268	6	):	):	PUNCT
ajeer-220	268	7	430	430	NUM
ajeer-220	268	8	-	-	SYM
ajeer-220	268	9	442	442	NUM
ajeer-220	268	10	.	.	PUNCT
ajeer-220	269	1	dutordoir	dutordoir	PROPN
ajeer-220	269	2	,	,	PUNCT
ajeer-220	269	3	m.	m.	NOUN
ajeer-220	269	4	,	,	PUNCT
ajeer-220	269	5	p.	p.	NOUN
ajeer-220	269	6	rosenboom	rosenboom	NOUN
ajeer-220	269	7	and	and	CCONJ
ajeer-220	269	8	m.	m.	PROPN
ajeer-220	269	9	vasconcelos	vasconcelos	PROPN
ajeer-220	269	10	,	,	PUNCT
ajeer-220	269	11	2014	2014	NUM
ajeer-220	269	12	.	.	PUNCT
ajeer-220	270	1	synergy	synergy	NOUN
ajeer-220	270	2	disclosures	disclosure	NOUN
ajeer-220	270	3	in	in	ADP
ajeer-220	270	4	mergers	merger	NOUN
ajeer-220	270	5	and	and	CCONJ
ajeer-220	270	6	acquisitions	acquisition	NOUN
ajeer-220	270	7	.	.	PUNCT
ajeer-220	271	1	international	international	ADJ
ajeer-220	271	2	review	review	NOUN
ajeer-220	271	3	of	of	ADP
ajeer-220	271	4	financial	financial	ADJ
ajeer-220	271	5	analysis	analysis	NOUN
ajeer-220	271	6	,	,	PUNCT
ajeer-220	271	7	31(january	31(january	NUM
ajeer-220	271	8	):	):	PUNCT
ajeer-220	271	9	88	88	NUM
ajeer-220	271	10	-	-	SYM
ajeer-220	271	11	100	100	NUM
ajeer-220	271	12	.	.	PUNCT
ajeer-220	272	1	elango	elango	PROPN
ajeer-220	272	2	,	,	PUNCT
ajeer-220	272	3	b.	b.	PROPN
ajeer-220	272	4	,	,	PUNCT
ajeer-220	272	5	2006	2006	NUM
ajeer-220	272	6	.	.	PUNCT
ajeer-220	273	1	when	when	SCONJ
ajeer-220	273	2	does	do	AUX
ajeer-220	273	3	cross	cross	ADJ
ajeer-220	273	4	-	-	ADJ
ajeer-220	273	5	border	border	ADJ
ajeer-220	273	6	acquisition	acquisition	NOUN
ajeer-220	273	7	of	of	ADP
ajeer-220	273	8	insurance	insurance	NOUN
ajeer-220	273	9	firms	firm	NOUN
ajeer-220	273	10	lead	lead	VERB
ajeer-220	273	11	to	to	PART
ajeer-220	273	12	value	value	NOUN
ajeer-220	273	13	creation	creation	NOUN
ajeer-220	273	14	?	?	PUNCT
ajeer-220	274	1	journal	journal	NOUN
ajeer-220	274	2	of	of	ADP
ajeer-220	274	3	risk	risk	NOUN
ajeer-220	274	4	finance	finance	NOUN
ajeer-220	274	5	,	,	PUNCT
ajeer-220	274	6	7(4	7(4	NUM
ajeer-220	274	7	):	):	PUNCT
ajeer-220	274	8	402	402	NUM
ajeer-220	274	9	-	-	SYM
ajeer-220	274	10	414	414	NUM
ajeer-220	274	11	.	.	PUNCT
ajeer-220	275	1	goergen	goergen	PROPN
ajeer-220	275	2	,	,	PUNCT
ajeer-220	275	3	m.	m.	NOUN
ajeer-220	275	4	and	and	CCONJ
ajeer-220	275	5	l.	l.	PROPN
ajeer-220	275	6	renneboog	renneboog	PROPN
ajeer-220	275	7	,	,	PUNCT
ajeer-220	275	8	2003	2003	NUM
ajeer-220	275	9	.	.	PUNCT
ajeer-220	276	1	value	value	NOUN
ajeer-220	276	2	creation	creation	NOUN
ajeer-220	276	3	in	in	ADP
ajeer-220	276	4	large	large	ADJ
ajeer-220	276	5	european	european	ADJ
ajeer-220	276	6	mergers	merger	NOUN
ajeer-220	276	7	and	and	CCONJ
ajeer-220	276	8	acquisitions	acquisition	NOUN
ajeer-220	276	9	.	.	PUNCT
ajeer-220	277	1	advances	advance	NOUN
ajeer-220	277	2	in	in	ADP
ajeer-220	277	3	mergers	merger	NOUN
ajeer-220	277	4	and	and	CCONJ
ajeer-220	277	5	acquisitions	acquisition	NOUN
ajeer-220	277	6	,	,	PUNCT
ajeer-220	277	7	2	2	NUM
ajeer-220	277	8	:	:	SYM
ajeer-220	277	9	97	97	NUM
ajeer-220	277	10	-	-	SYM
ajeer-220	277	11	146	146	NUM
ajeer-220	277	12	.	.	PUNCT
ajeer-220	278	1	hassan	hassan	PROPN
ajeer-220	278	2	,	,	PUNCT
ajeer-220	278	3	m.	m.	NOUN
ajeer-220	278	4	,	,	PUNCT
ajeer-220	278	5	k.d	k.d	PROPN
ajeer-220	278	6	.	.	PROPN
ajeer-220	278	7	patro	patro	PROPN
ajeer-220	278	8	,	,	PUNCT
ajeer-220	278	9	h.	h.	NOUN
ajeer-220	278	10	tuckman	tuckman	NOUN
ajeer-220	278	11	and	and	CCONJ
ajeer-220	278	12	x.	x.	NOUN
ajeer-220	278	13	wang	wang	PROPN
ajeer-220	278	14	,	,	PUNCT
ajeer-220	278	15	2004	2004	NUM
ajeer-220	278	16	.	.	PUNCT
ajeer-220	279	1	do	do	AUX
ajeer-220	279	2	mergers	merger	NOUN
ajeer-220	279	3	and	and	CCONJ
ajeer-220	279	4	acquisitions	acquisition	NOUN
ajeer-220	279	5	create	create	VERB
ajeer-220	279	6	shareholder	shareholder	NOUN
ajeer-220	279	7	wealth	wealth	NOUN
ajeer-220	279	8	in	in	ADP
ajeer-220	279	9	pharmaceuticals	pharmaceutical	NOUN
ajeer-220	279	10	industry	industry	NOUN
ajeer-220	279	11	?	?	PUNCT
ajeer-220	280	1	international	international	ADJ
ajeer-220	280	2	journal	journal	NOUN
ajeer-220	280	3	of	of	ADP
ajeer-220	280	4	pharmaceutical	pharmaceutical	NOUN
ajeer-220	280	5	and	and	CCONJ
ajeer-220	280	6	healthcare	healthcare	NOUN
ajeer-220	280	7	marketing	marketing	NOUN
ajeer-220	280	8	,	,	PUNCT
ajeer-220	280	9	1(1	1(1	NUM
ajeer-220	280	10	):	):	PUNCT
ajeer-220	280	11	58	58	NUM
ajeer-220	280	12	-	-	SYM
ajeer-220	280	13	78	78	NUM
ajeer-220	280	14	.	.	PUNCT
ajeer-220	281	1	jansson	jansson	PROPN
ajeer-220	281	2	,	,	PUNCT
ajeer-220	281	3	k.	k.	PROPN
ajeer-220	281	4	,	,	PUNCT
ajeer-220	281	5	m.	m.	PROPN
ajeer-220	281	6	kirk	kirk	PROPN
ajeer-220	281	7	-	-	PUNCT
ajeer-220	281	8	smith	smith	PROPN
ajeer-220	281	9	and	and	CCONJ
ajeer-220	281	10	s.	s.	PROPN
ajeer-220	281	11	wightman	wightman	PROPN
ajeer-220	281	12	,	,	PUNCT
ajeer-220	281	13	1994	1994	NUM
ajeer-220	281	14	.	.	PUNCT
ajeer-220	282	1	the	the	DET
ajeer-220	282	2	impact	impact	NOUN
ajeer-220	282	3	of	of	ADP
ajeer-220	282	4	the	the	DET
ajeer-220	282	5	single	single	ADJ
ajeer-220	282	6	european	european	ADJ
ajeer-220	282	7	market	market	NOUN
ajeer-220	282	8	on	on	ADP
ajeer-220	282	9	cross	cross	ADJ
ajeer-220	282	10	-	-	ADJ
ajeer-220	282	11	border	border	ADJ
ajeer-220	282	12	mergers	merger	NOUN
ajeer-220	282	13	in	in	ADP
ajeer-220	282	14	the	the	DET
ajeer-220	282	15	uk	uk	PROPN
ajeer-220	282	16	manufacturing	manufacturing	NOUN
ajeer-220	282	17	industry	industry	NOUN
ajeer-220	282	18	.	.	PUNCT
ajeer-220	283	1	european	european	PROPN
ajeer-220	283	2	business	business	PROPN
ajeer-220	283	3	review	review	PROPN
ajeer-220	283	4	,	,	PUNCT
ajeer-220	283	5	94(2	94(2	NUM
ajeer-220	283	6	):	):	PUNCT
ajeer-220	283	7	8	8	NUM
ajeer-220	283	8	-	-	SYM
ajeer-220	283	9	13	13	NUM
ajeer-220	283	10	.	.	PUNCT
ajeer-220	284	1	kursten	kursten	PROPN
ajeer-220	284	2	,	,	PUNCT
ajeer-220	284	3	w.	w.	PROPN
ajeer-220	284	4	,	,	PUNCT
ajeer-220	284	5	2008	2008	NUM
ajeer-220	284	6	.	.	PUNCT
ajeer-220	285	1	synergies	synergy	NOUN
ajeer-220	285	2	,	,	PUNCT
ajeer-220	285	3	shareholders	shareholder	NOUN
ajeer-220	285	4	value	value	NOUN
ajeer-220	285	5	and	and	CCONJ
ajeer-220	285	6	exchange	exchange	NOUN
ajeer-220	285	7	ratios	ratio	NOUN
ajeer-220	285	8	in	in	ADP
ajeer-220	285	9	value	value	NOUN
ajeer-220	285	10	-	-	PUNCT
ajeer-220	285	11	creating	create	VERB
ajeer-220	285	12	mergers	merger	NOUN
ajeer-220	285	13	.	.	PUNCT
ajeer-220	286	1	managerial	managerial	ADJ
ajeer-220	286	2	finance	finance	NOUN
ajeer-220	286	3	,	,	PUNCT
ajeer-220	286	4	34(4	34(4	NUM
ajeer-220	286	5	):	):	PUNCT
ajeer-220	286	6	252	252	NUM
ajeer-220	286	7	-	-	SYM
ajeer-220	286	8	261	261	NUM
ajeer-220	286	9	.	.	PUNCT
ajeer-220	287	1	liu	liu	PROPN
ajeer-220	287	2	,	,	PUNCT
ajeer-220	287	3	m.c	m.c	PROPN
ajeer-220	287	4	.	.	PROPN
ajeer-220	287	5	,	,	PUNCT
ajeer-220	287	6	g.	g.	PROPN
ajeer-220	287	7	o’farrell	o’farrell	PROPN
ajeer-220	287	8	,	,	PUNCT
ajeer-220	287	9	k.k	k.k	PROPN
ajeer-220	287	10	.	.	PROPN
ajeer-220	287	11	wei	wei	PROPN
ajeer-220	287	12	and	and	CCONJ
ajeer-220	287	13	j.l	j.l	PROPN
ajeer-220	287	14	.	.	PROPN
ajeer-220	287	15	yao	yao	PROPN
ajeer-220	287	16	,	,	PUNCT
ajeer-220	287	17	2013	2013	NUM
ajeer-220	287	18	.	.	PUNCT
ajeer-220	288	1	ratios	ratio	NOUN
ajeer-220	288	2	analysis	analysis	NOUN
ajeer-220	288	3	comparability	comparability	NOUN
ajeer-220	288	4	between	between	ADP
ajeer-220	288	5	chinese	chinese	ADJ
ajeer-220	288	6	and	and	CCONJ
ajeer-220	288	7	japanese	japanese	ADJ
ajeer-220	288	8	firms	firm	NOUN
ajeer-220	288	9	.	.	PUNCT
ajeer-220	289	1	journal	journal	PROPN
ajeer-220	289	2	of	of	ADP
ajeer-220	289	3	asia	asia	PROPN
ajeer-220	289	4	business	business	PROPN
ajeer-220	289	5	studies	study	NOUN
ajeer-220	289	6	,	,	PUNCT
ajeer-220	289	7	7(2	7(2	NUM
ajeer-220	289	8	):	):	PUNCT
ajeer-220	289	9	185	185	NUM
ajeer-220	289	10	-	-	SYM
ajeer-220	289	11	199	199	NUM
ajeer-220	289	12	.	.	PUNCT
ajeer-220	290	1	macdonald	macdonald	PROPN
ajeer-220	290	2	,	,	PUNCT
ajeer-220	290	3	r.	r.	PROPN
ajeer-220	290	4	,	,	PUNCT
ajeer-220	290	5	2005	2005	NUM
ajeer-220	290	6	.	.	PUNCT
ajeer-220	291	1	a	a	DET
ajeer-220	291	2	template	template	NOUN
ajeer-220	291	3	for	for	ADP
ajeer-220	291	4	shareholder	shareholder	NOUN
ajeer-220	291	5	value	value	NOUN
ajeer-220	291	6	creation	creation	NOUN
ajeer-220	291	7	on	on	ADP
ajeer-220	291	8	m&as	m&as	PROPN
ajeer-220	291	9	.	.	PUNCT
ajeer-220	291	10	strategic	strategic	ADJ
ajeer-220	291	11	direction	direction	NOUN
ajeer-220	291	12	,	,	PUNCT
ajeer-220	291	13	21(5	21(5	NUM
ajeer-220	291	14	):	):	PUNCT
ajeer-220	291	15	3	3	NUM
ajeer-220	291	16	-	-	SYM
ajeer-220	291	17	10	10	NUM
ajeer-220	291	18	.	.	PUNCT
ajeer-220	292	1	raconteur	raconteur	PROPN
ajeer-220	292	2	,	,	PUNCT
ajeer-220	292	3	2014	2014	NUM
ajeer-220	292	4	.	.	PUNCT
ajeer-220	293	1	m&a	m&a	PROPN
ajeer-220	293	2	grows	grow	VERB
ajeer-220	293	3	as	as	ADP
ajeer-220	293	4	uk	uk	PROPN
ajeer-220	293	5	economy	economy	NOUN
ajeer-220	293	6	recovers	recover	NOUN
ajeer-220	293	7	.	.	PUNCT
ajeer-220	294	1	retrieved	retrieve	VERB
ajeer-220	294	2	from	from	ADP
ajeer-220	294	3	http://raconteur.net/finance/m-and-a-grows-as-uk-economy-recovers	http://raconteur.net/finance/m-and-a-grows-as-uk-economy-recover	NOUN
ajeer-220	294	4	[	[	X
ajeer-220	294	5	accessed	access	VERB
ajeer-220	294	6	8th	8th	ADJ
ajeer-220	294	7	august	august	PROPN
ajeer-220	294	8	2015	2015	NUM
ajeer-220	294	9	]	]	PUNCT
ajeer-220	294	10	.	.	PUNCT
ajeer-220	295	1	ray	ray	PROPN
ajeer-220	295	2	,	,	PUNCT
ajeer-220	295	3	g.k	g.k	PROPN
ajeer-220	295	4	.	.	PROPN
ajeer-220	295	5	and	and	CCONJ
ajeer-220	295	6	g.r	g.r	PROPN
ajeer-220	295	7	.	.	PROPN
ajeer-220	295	8	ray	ray	PROPN
ajeer-220	295	9	,	,	PUNCT
ajeer-220	295	10	2013	2013	NUM
ajeer-220	295	11	.	.	PUNCT
ajeer-220	296	1	cross	cross	ADJ
ajeer-220	296	2	-	-	ADJ
ajeer-220	296	3	border	border	ADJ
ajeer-220	296	4	mergers	merger	NOUN
ajeer-220	296	5	and	and	CCONJ
ajeer-220	296	6	acquisitions	acquisition	NOUN
ajeer-220	296	7	:	:	PUNCT
ajeer-220	296	8	modelling	model	VERB
ajeer-220	296	9	synergy	synergy	NOUN
ajeer-220	296	10	for	for	ADP
ajeer-220	296	11	value	value	NOUN
ajeer-220	296	12	creation	creation	NOUN
ajeer-220	296	13	.	.	PUNCT
ajeer-220	297	1	advances	advance	NOUN
ajeer-220	297	2	in	in	ADP
ajeer-220	297	3	mergers	merger	NOUN
ajeer-220	297	4	and	and	CCONJ
ajeer-220	297	5	acquisitions	acquisition	NOUN
ajeer-220	297	6	,	,	PUNCT
ajeer-220	297	7	12	12	NUM
ajeer-220	297	8	:	:	SYM
ajeer-220	297	9	113	113	NUM
ajeer-220	297	10	-	-	SYM
ajeer-220	297	11	134	134	NUM
ajeer-220	297	12	.	.	PUNCT
ajeer-220	298	1	ray	ray	PROPN
ajeer-220	298	2	,	,	PUNCT
ajeer-220	298	3	k.g	k.g	PROPN
ajeer-220	298	4	.	.	PROPN
ajeer-220	298	5	and	and	CCONJ
ajeer-220	298	6	s.g	s.g	PROPN
ajeer-220	298	7	.	.	PROPN
ajeer-220	298	8	ray	ray	PROPN
ajeer-220	298	9	,	,	PUNCT
ajeer-220	298	10	2014	2014	NUM
ajeer-220	298	11	.	.	PUNCT
ajeer-220	299	1	cross	cross	ADJ
ajeer-220	299	2	-	-	ADJ
ajeer-220	299	3	border	border	ADJ
ajeer-220	299	4	mergers	merger	NOUN
ajeer-220	299	5	and	and	CCONJ
ajeer-220	299	6	acquisitions	acquisition	NOUN
ajeer-220	299	7	:	:	PUNCT
ajeer-220	299	8	modelling	model	VERB
ajeer-220	299	9	synergy	synergy	NOUN
ajeer-220	299	10	for	for	ADP
ajeer-220	299	11	value	value	NOUN
ajeer-220	299	12	creation	creation	NOUN
ajeer-220	299	13	.	.	PUNCT
ajeer-220	300	1	advances	advance	NOUN
ajeer-220	300	2	in	in	ADP
ajeer-220	300	3	mergers	merger	NOUN
ajeer-220	300	4	and	and	CCONJ
ajeer-220	300	5	acquisitions	acquisition	NOUN
ajeer-220	300	6	(	(	PUNCT
ajeer-220	300	7	advances	advance	NOUN
ajeer-220	300	8	in	in	ADP
ajeer-220	300	9	mergers	merger	NOUN
ajeer-220	300	10	and	and	CCONJ
ajeer-220	300	11	acquisitions	acquisition	NOUN
ajeer-220	300	12	)	)	PUNCT
ajeer-220	300	13	emerald	emerald	NOUN
ajeer-220	300	14	group	group	NOUN
ajeer-220	300	15	publishing	publishing	PROPN
ajeer-220	300	16	limited	limit	VERB
ajeer-220	300	17	,	,	PUNCT
ajeer-220	300	18	12	12	NUM
ajeer-220	300	19	:	:	SYM
ajeer-220	300	20	113	113	NUM
ajeer-220	300	21	-	-	SYM
ajeer-220	300	22	134	134	NUM
ajeer-220	300	23	.	.	PUNCT
ajeer-220	301	1	reynolds	reynolds	PROPN
ajeer-220	301	2	,	,	PUNCT
ajeer-220	301	3	n.	n.	PROPN
ajeer-220	301	4	and	and	CCONJ
ajeer-220	301	5	s.	s.	PROPN
ajeer-220	301	6	teerikangas	teerikangas	PROPN
ajeer-220	301	7	,	,	PUNCT
ajeer-220	301	8	2016	2016	NUM
ajeer-220	301	9	.	.	PUNCT
ajeer-220	302	1	the	the	DET
ajeer-220	302	2	international	international	ADJ
ajeer-220	302	3	experience	experience	NOUN
ajeer-220	302	4	in	in	ADP
ajeer-220	302	5	domestic	domestic	ADJ
ajeer-220	302	6	mergers	merger	NOUN
ajeer-220	302	7	–	–	PUNCT
ajeer-220	302	8	are	be	AUX
ajeer-220	302	9	purely	purely	ADV
ajeer-220	302	10	domestic	domestic	ADJ
ajeer-220	302	11	m&a	m&a	PROPN
ajeer-220	302	12	a	a	DET
ajeer-220	302	13	myth	myth	NOUN
ajeer-220	302	14	.	.	PUNCT
ajeer-220	303	1	international	international	ADJ
ajeer-220	303	2	business	business	PROPN
ajeer-220	303	3	review	review	PROPN
ajeer-220	303	4	,	,	PUNCT
ajeer-220	303	5	25(1	25(1	NUM
ajeer-220	303	6	):	):	PUNCT
ajeer-220	303	7	42	42	NUM
ajeer-220	303	8	-	-	SYM
ajeer-220	303	9	50	50	NUM
ajeer-220	303	10	.	.	PUNCT
ajeer-220	304	1	samad	samad	PROPN
ajeer-220	304	2	,	,	PUNCT
ajeer-220	304	3	a.	a.	NOUN
ajeer-220	304	4	and	and	CCONJ
ajeer-220	304	5	m.k	m.k	PROPN
ajeer-220	304	6	.	.	PUNCT
ajeer-220	305	1	hassan	hassan	PROPN
ajeer-220	305	2	,	,	PUNCT
ajeer-220	305	3	1999	1999	NUM
ajeer-220	305	4	.	.	PUNCT
ajeer-220	306	1	the	the	DET
ajeer-220	306	2	performance	performance	NOUN
ajeer-220	306	3	of	of	ADP
ajeer-220	306	4	malaysian	malaysian	ADJ
ajeer-220	306	5	islamic	islamic	ADJ
ajeer-220	306	6	banks	bank	NOUN
ajeer-220	306	7	during	during	ADP
ajeer-220	306	8	1994	1994	NUM
ajeer-220	306	9	-	-	SYM
ajeer-220	306	10	1997	1997	NUM
ajeer-220	306	11	:	:	PUNCT
ajeer-220	306	12	an	an	DET
ajeer-220	306	13	exploratory	exploratory	ADJ
ajeer-220	306	14	study	study	NOUN
ajeer-220	306	15	.	.	PUNCT
ajeer-220	307	1	international	international	ADJ
ajeer-220	307	2	journal	journal	PROPN
ajeer-220	307	3	of	of	ADP
ajeer-220	307	4	islamic	islamic	ADJ
ajeer-220	307	5	financial	financial	PROPN
ajeer-220	307	6	services	services	PROPN
ajeer-220	307	7	,	,	PUNCT
ajeer-220	307	8	1(3	1(3	NUM
ajeer-220	307	9	):	):	PUNCT
ajeer-220	307	10	1	1	NUM
ajeer-220	307	11	-	-	SYM
ajeer-220	307	12	14	14	NUM
ajeer-220	307	13	.	.	PUNCT
ajeer-220	308	1	schoenberg	schoenberg	PROPN
ajeer-220	308	2	,	,	PUNCT
ajeer-220	308	3	r.	r.	PROPN
ajeer-220	308	4	and	and	CCONJ
ajeer-220	308	5	c.	c.	PROPN
ajeer-220	308	6	bowman	bowman	PROPN
ajeer-220	308	7	,	,	PUNCT
ajeer-220	308	8	2010	2010	NUM
ajeer-220	308	9	.	.	PUNCT
ajeer-220	309	1	value	value	NOUN
ajeer-220	309	2	creation	creation	NOUN
ajeer-220	309	3	in	in	ADP
ajeer-220	309	4	corporate	corporate	ADJ
ajeer-220	309	5	acquisitions	acquisition	NOUN
ajeer-220	309	6	:	:	PUNCT
ajeer-220	309	7	linking	link	VERB
ajeer-220	309	8	value	value	NOUN
ajeer-220	309	9	creation	creation	NOUN
ajeer-220	309	10	logic	logic	NOUN
ajeer-220	309	11	,	,	PUNCT
ajeer-220	309	12	organizational	organizational	ADJ
ajeer-220	309	13	capabilities	capability	NOUN
ajeer-220	309	14	and	and	CCONJ
ajeer-220	309	15	implementation	implementation	NOUN
ajeer-220	309	16	process	process	NOUN
ajeer-220	309	17	.	.	PUNCT
ajeer-220	310	1	advances	advance	NOUN
ajeer-220	310	2	in	in	ADP
ajeer-220	310	3	mergers	merger	NOUN
ajeer-220	310	4	and	and	CCONJ
ajeer-220	310	5	acquisitions	acquisition	NOUN
ajeer-220	310	6	,	,	PUNCT
ajeer-220	310	7	9(1	9(1	NUM
ajeer-220	310	8	):	):	PUNCT
ajeer-220	310	9	153	153	NUM
ajeer-220	310	10	-	-	SYM
ajeer-220	310	11	176	176	NUM
ajeer-220	310	12	.	.	PUNCT
ajeer-220	311	1	schweiger	schweiger	PROPN
ajeer-220	311	2	,	,	PUNCT
ajeer-220	311	3	m.d	m.d	PROPN
ajeer-220	311	4	.	.	PROPN
ajeer-220	311	5	and	and	CCONJ
ajeer-220	311	6	p.	p.	NOUN
ajeer-220	312	1	very	very	ADV
ajeer-220	312	2	,	,	PUNCT
ajeer-220	312	3	2003	2003	NUM
ajeer-220	312	4	.	.	PUNCT
ajeer-220	313	1	creating	create	VERB
ajeer-220	313	2	value	value	NOUN
ajeer-220	313	3	through	through	ADP
ajeer-220	313	4	merger	merger	NOUN
ajeer-220	313	5	and	and	CCONJ
ajeer-220	313	6	acquisition	acquisition	NOUN
ajeer-220	313	7	integration	integration	NOUN
ajeer-220	313	8	.	.	PUNCT
ajeer-220	314	1	advances	advance	NOUN
ajeer-220	314	2	in	in	ADP
ajeer-220	314	3	mergers	merger	NOUN
ajeer-220	314	4	and	and	CCONJ
ajeer-220	314	5	acquisitions	acquisition	NOUN
ajeer-220	314	6	,	,	PUNCT
ajeer-220	314	7	2(1	2(1	NUM
ajeer-220	314	8	):	):	PUNCT
ajeer-220	314	9	1	1	NUM
ajeer-220	314	10	-	-	SYM
ajeer-220	314	11	26	26	NUM
ajeer-220	314	12	.	.	PUNCT
ajeer-220	315	1	singla	singla	PROPN
ajeer-220	315	2	,	,	PUNCT
ajeer-220	315	3	r.	r.	PROPN
ajeer-220	315	4	,	,	PUNCT
ajeer-220	315	5	a.	a.	PROPN
ajeer-220	315	6	saini	saini	PROPN
ajeer-220	315	7	and	and	CCONJ
ajeer-220	315	8	r.	r.	PROPN
ajeer-220	315	9	sharma	sharma	PROPN
ajeer-220	315	10	,	,	PUNCT
ajeer-220	315	11	2012	2012	NUM
ajeer-220	315	12	.	.	PUNCT
ajeer-220	316	1	cross	cross	VERB
ajeer-220	316	2	border	border	NOUN
ajeer-220	316	3	mergers	merger	NOUN
ajeer-220	316	4	and	and	CCONJ
ajeer-220	316	5	acquisitions	acquisition	NOUN
ajeer-220	316	6	:	:	PUNCT
ajeer-220	316	7	a	a	DET
ajeer-220	316	8	performance	performance	NOUN
ajeer-220	316	9	evaluation	evaluation	NOUN
ajeer-220	316	10	of	of	ADP
ajeer-220	316	11	indian	indian	ADJ
ajeer-220	316	12	acquiring	acquire	VERB
ajeer-220	316	13	companies	company	NOUN
ajeer-220	316	14	.	.	PUNCT
ajeer-220	317	1	asia	asia	PROPN
ajeer-220	317	2	-	-	PUNCT
ajeer-220	317	3	pacific	pacific	PROPN
ajeer-220	317	4	journal	journal	PROPN
ajeer-220	317	5	of	of	ADP
ajeer-220	317	6	management	management	NOUN
ajeer-220	317	7	,	,	PUNCT
ajeer-220	317	8	research	research	NOUN
ajeer-220	317	9	and	and	CCONJ
ajeer-220	317	10	innovation	innovation	NOUN
ajeer-220	317	11	,	,	PUNCT
ajeer-220	317	12	8(2	8(2	NUM
ajeer-220	317	13	):	):	PUNCT
ajeer-220	317	14	127	127	NUM
ajeer-220	317	15	-	-	SYM
ajeer-220	317	16	132	132	NUM
ajeer-220	317	17	.	.	PUNCT
ajeer-220	318	1	tan	tan	PROPN
ajeer-220	318	2	,	,	PUNCT
ajeer-220	318	3	m.s.p	m.s.p	PROPN
ajeer-220	318	4	.	.	PUNCT
ajeer-220	318	5	,	,	PUNCT
ajeer-220	319	1	c.h	c.h	PROPN
ajeer-220	319	2	.	.	PROPN
ajeer-220	319	3	koh	koh	PROPN
ajeer-220	319	4	and	and	CCONJ
ajeer-220	319	5	c.l	c.l	PROPN
ajeer-220	319	6	.	.	PROPN
ajeer-220	319	7	low	low	PROPN
ajeer-220	319	8	,	,	PUNCT
ajeer-220	319	9	1997	1997	NUM
ajeer-220	319	10	.	.	PUNCT
ajeer-220	320	1	stability	stability	NOUN
ajeer-220	320	2	of	of	ADP
ajeer-220	320	3	financial	financial	ADJ
ajeer-220	320	4	ratios	ratio	NOUN
ajeer-220	320	5	:	:	PUNCT
ajeer-220	320	6	a	a	DET
ajeer-220	320	7	study	study	NOUN
ajeer-220	320	8	of	of	ADP
ajeer-220	320	9	listed	list	VERB
ajeer-220	320	10	companies	company	NOUN
ajeer-220	320	11	in	in	ADP
ajeer-220	320	12	singapore	singapore	PROPN
ajeer-220	320	13	.	.	PUNCT
ajeer-220	321	1	asian	asian	ADJ
ajeer-220	321	2	review	review	NOUN
ajeer-220	321	3	of	of	ADP
ajeer-220	321	4	accounting	accounting	NOUN
ajeer-220	321	5	,	,	PUNCT
ajeer-220	321	6	5(1	5(1	NUM
ajeer-220	321	7	):	):	PUNCT
ajeer-220	321	8	19	19	NUM
ajeer-220	321	9	-	-	SYM
ajeer-220	321	10	39	39	NUM
ajeer-220	321	11	.	.	PUNCT
ajeer-220	322	1	the	the	DET
ajeer-220	322	2	economist	economist	NOUN
ajeer-220	322	3	,	,	PUNCT
ajeer-220	322	4	2014	2014	NUM
ajeer-220	322	5	.	.	PUNCT
ajeer-220	323	1	the	the	DET
ajeer-220	323	2	new	new	ADJ
ajeer-220	323	3	rules	rule	NOUN
ajeer-220	323	4	of	of	ADP
ajeer-220	323	5	attraction	attraction	NOUN
ajeer-220	323	6	.	.	PUNCT
ajeer-220	324	1	retrieved	retrieve	VERB
ajeer-220	324	2	from	from	ADP
ajeer-220	324	3	http://www.economist.com/news/business/21632675-latest-boomdealmaking-appears-more-sensible-its-predecessors-valuations-are	http://www.economist.com/news/business/21632675-latest-boomdealmaking-appears-more-sensible-its-predecessors-valuations-are	PROPN
ajeer-220	324	4	[	[	X
ajeer-220	324	5	accessed	access	VERB
ajeer-220	324	6	10th	10th	ADJ
ajeer-220	324	7	august	august	PROPN
ajeer-220	324	8	2015	2015	NUM
ajeer-220	324	9	]	]	PUNCT
ajeer-220	324	10	.	.	PUNCT
ajeer-220	325	1	the	the	DET
ajeer-220	325	2	telegraph	telegraph	NOUN
ajeer-220	325	3	,	,	PUNCT
ajeer-220	325	4	2014	2014	NUM
ajeer-220	325	5	.	.	PUNCT
ajeer-220	326	1	tesco	tesco	PROPN
ajeer-220	326	2	to	to	PART
ajeer-220	326	3	invest	invest	VERB
ajeer-220	326	4	in	in	ADP
ajeer-220	326	5	india	india	PROPN
ajeer-220	326	6	.	.	PUNCT
ajeer-220	327	1	retrieved	retrieve	VERB
ajeer-220	327	2	from	from	ADP
ajeer-220	327	3	http://www.telegraph.co.uk/finance/personalfinance/expatmoney/10740210/tesco-to-invest-in-india.html	http://www.telegraph.co.uk/finance/personalfinance/expatmoney/10740210/tesco-to-invest-in-india.html	NOUN
ajeer-220	327	4	[	[	AUX
ajeer-220	327	5	accessed	access	VERB
ajeer-220	327	6	11th	11th	ADJ
ajeer-220	327	7	august	august	NOUN
ajeer-220	327	8	2015	2015	NUM
ajeer-220	327	9	]	]	PUNCT
ajeer-220	327	10	.	.	PUNCT
ajeer-220	328	1	uddin	uddin	PROPN
ajeer-220	328	2	,	,	PUNCT
ajeer-220	328	3	a.	a.	NOUN
ajeer-220	328	4	and	and	CCONJ
ajeer-220	328	5	a.	a.	PROPN
ajeer-220	328	6	boateng	boateng	PROPN
ajeer-220	328	7	,	,	PUNCT
ajeer-220	328	8	2009	2009	NUM
ajeer-220	328	9	.	.	PUNCT
ajeer-220	329	1	an	an	DET
ajeer-220	329	2	analysis	analysis	NOUN
ajeer-220	329	3	of	of	ADP
ajeer-220	329	4	short	short	ADJ
ajeer-220	329	5	-	-	PUNCT
ajeer-220	329	6	run	run	NOUN
ajeer-220	329	7	performance	performance	NOUN
ajeer-220	329	8	of	of	ADP
ajeer-220	329	9	cross	cross	ADJ
ajeer-220	329	10	-	-	ADJ
ajeer-220	329	11	border	border	ADJ
ajeer-220	329	12	mergers	merger	NOUN
ajeer-220	329	13	and	and	CCONJ
ajeer-220	329	14	acquisitions	acquisition	NOUN
ajeer-220	329	15	.	.	PUNCT
ajeer-220	330	1	review	review	NOUN
ajeer-220	330	2	of	of	ADP
ajeer-220	330	3	accounting	accounting	NOUN
ajeer-220	330	4	and	and	CCONJ
ajeer-220	330	5	finance	finance	NOUN
ajeer-220	330	6	,	,	PUNCT
ajeer-220	330	7	8(4	8(4	NUM
ajeer-220	330	8	):	):	PUNCT
ajeer-220	330	9	431	431	NUM
ajeer-220	330	10	-	-	SYM
ajeer-220	330	11	453	453	NUM
ajeer-220	330	12	.	.	PUNCT
ajeer-220	331	1	uddin	uddin	ADJ
ajeer-220	331	2	,	,	PUNCT
ajeer-220	331	3	a.	a.	NOUN
ajeer-220	331	4	and	and	CCONJ
ajeer-220	331	5	a.	a.	PROPN
ajeer-220	331	6	boateng	boateng	PROPN
ajeer-220	331	7	,	,	PUNCT
ajeer-220	331	8	2011	2011	NUM
ajeer-220	331	9	.	.	PUNCT
ajeer-220	332	1	explaining	explain	VERB
ajeer-220	332	2	the	the	DET
ajeer-220	332	3	trends	trend	NOUN
ajeer-220	332	4	in	in	ADP
ajeer-220	332	5	the	the	DET
ajeer-220	332	6	uk	uk	PROPN
ajeer-220	332	7	cross	cross	ADJ
ajeer-220	332	8	-	-	ADJ
ajeer-220	332	9	border	border	ADJ
ajeer-220	332	10	mergers	merger	NOUN
ajeer-220	332	11	&	&	CCONJ
ajeer-220	332	12	acquisitions	acquisition	NOUN
ajeer-220	332	13	:	:	PUNCT
ajeer-220	332	14	an	an	DET
ajeer-220	332	15	analysis	analysis	NOUN
ajeer-220	332	16	of	of	ADP
ajeer-220	332	17	macro	macro	ADJ
ajeer-220	332	18	-	-	ADJ
ajeer-220	332	19	economic	economic	ADJ
ajeer-220	332	20	factors	factor	NOUN
ajeer-220	332	21	.	.	PUNCT
ajeer-220	333	1	international	international	ADJ
ajeer-220	333	2	business	business	PROPN
ajeer-220	333	3	review	review	PROPN
ajeer-220	333	4	,	,	PUNCT
ajeer-220	333	5	20(5	20(5	NUM
ajeer-220	333	6	):	):	PUNCT
ajeer-220	333	7	547	547	NUM
ajeer-220	333	8	-	-	SYM
ajeer-220	333	9	556	556	NUM
ajeer-220	333	10	.	.	PUNCT
ajeer-220	334	1	appendices	appendice	VERB
ajeer-220	334	2	table-3.1	table-3.1	PROPN
ajeer-220	334	3	.	.	PUNCT
ajeer-220	334	4	list	list	NOUN
ajeer-220	334	5	of	of	ADP
ajeer-220	334	6	acquiring	acquire	VERB
ajeer-220	334	7	companies	company	NOUN
ajeer-220	334	8	companies	company	NOUN
ajeer-220	334	9	companies	company	NOUN
ajeer-220	334	10	1	1	NUM
ajeer-220	334	11	smith	smith	PROPN
ajeer-220	334	12	&	&	CCONJ
ajeer-220	334	13	nephew	nephew	PROPN
ajeer-220	334	14	11	11	NUM
ajeer-220	334	15	huntsworth	huntsworth	NOUN
ajeer-220	334	16	2	2	NUM
ajeer-220	334	17	prudential	prudential	NOUN
ajeer-220	334	18	12	12	NUM
ajeer-220	334	19	g4s	g4s	PROPN
ajeer-220	334	20	3	3	NUM
ajeer-220	334	21	advanced	advanced	ADJ
ajeer-220	334	22	med.sltb.gp	med.sltb.gp	PROPN
ajeer-220	334	23	13	13	NUM
ajeer-220	334	24	allocate	allocate	ADJ
ajeer-220	334	25	software	software	NOUN
ajeer-220	334	26	dead	dead	ADJ
ajeer-220	334	27	4	4	NUM
ajeer-220	334	28	trifast	trifast	ADJ
ajeer-220	334	29	14	14	NUM
ajeer-220	334	30	national	national	ADV
ajeer-220	334	31	express	express	VERB
ajeer-220	334	32	5	5	NUM
ajeer-220	334	33	cobhem	cobhem	NOUN
ajeer-220	334	34	15	15	NUM
ajeer-220	334	35	pearson	pearson	PROPN
ajeer-220	334	36	6	6	NUM
ajeer-220	334	37	brady	brady	PROPN
ajeer-220	334	38	16	16	NUM
ajeer-220	334	39	ultra	ultra	ADJ
ajeer-220	334	40	electronics	electronic	NOUN
ajeer-220	334	41	hdg	hdg	PROPN
ajeer-220	334	42	7	7	NUM
ajeer-220	334	43	immigination	immigination	NOUN
ajeer-220	334	44	technologies	technology	NOUN
ajeer-220	334	45	17	17	NUM
ajeer-220	334	46	inmarsat	inmarsat	ADJ
ajeer-220	334	47	8	8	NUM
ajeer-220	334	48	optos	opto	NOUN
ajeer-220	334	49	dead	dead	ADJ
ajeer-220	334	50	18	18	NUM
ajeer-220	334	51	associated	associated	ADJ
ajeer-220	334	52	brit	brit	NOUN
ajeer-220	334	53	.	.	PUNCT
ajeer-220	335	1	foods	food	NOUN
ajeer-220	335	2	9	9	NUM
ajeer-220	335	3	omega	omega	NOUN
ajeer-220	335	4	diagnostics	diagnostic	NOUN
ajeer-220	335	5	group	group	NOUN
ajeer-220	335	6	19	19	NUM
ajeer-220	335	7	halma	halma	PROPN
ajeer-220	335	8	10	10	NUM
ajeer-220	335	9	rsa	rsa	PROPN
ajeer-220	335	10	insurance	insurance	NOUN
ajeer-220	335	11	group	group	NOUN
ajeer-220	335	12	20	20	NUM
ajeer-220	335	13	omg	omg	PROPN
ajeer-220	335	14	source	source	NOUN
ajeer-220	335	15	:	:	PUNCT
ajeer-220	335	16	samples	sample	NOUN
ajeer-220	335	17	for	for	ADP
ajeer-220	335	18	the	the	DET
ajeer-220	335	19	study	study	NOUN
ajeer-220	335	20	through	through	ADP
ajeer-220	335	21	yahoo	yahoo	PROPN
ajeer-220	335	22	finance	finance	NOUN
ajeer-220	335	23	and	and	CCONJ
ajeer-220	335	24	companies	company	NOUN
ajeer-220	335	25	annual	annual	ADJ
ajeer-220	335	26	reports	report	NOUN
ajeer-220	335	27	.	.	PUNCT
ajeer-220	336	1	http://www.bloomberg.com/news/articles/2015-08-04/smartphones-on-the-beach-for-london-dealmakers-sweating-m-a-boom	http://www.bloomberg.com/news/articles/2015-08-04/smartphones-on-the-beach-for-london-dealmakers-sweating-m-a-boom	NOUN
ajeer-220	336	2	http://raconteur.net/finance/m-and-a-grows-as-uk-economy-recovers	http://raconteur.net/finance/m-and-a-grows-as-uk-economy-recover	NOUN
ajeer-220	336	3	http://www.economist.com/news/business/21632675-latest-boom-dealmaking-appears-more-sensible-its-predecessors-valuations-are	http://www.economist.com/news/business/21632675-latest-boom-dealmaking-appears-more-sensible-its-predecessors-valuations-are	VERB
ajeer-220	336	4	http://www.economist.com/news/business/21632675-latest-boom-dealmaking-appears-more-sensible-its-predecessors-valuations-are	http://www.economist.com/news/business/21632675-latest-boom-dealmaking-appears-more-sensible-its-predecessors-valuations-are	PROPN
ajeer-220	336	5	http://www.telegraph.co.uk/finance/personalfinance/expat-money/10740210/tesco-to-invest-in-india.html	http://www.telegraph.co.uk/finance/personalfinance/expat-money/10740210/tesco-to-invest-in-india.html	X
ajeer-220	336	6	http://www.telegraph.co.uk/finance/personalfinance/expat-money/10740210/tesco-to-invest-in-india.html	http://www.telegraph.co.uk/finance/personalfinance/expat-money/10740210/tesco-to-invest-in-india.html	PROPN
ajeer-220	336	7	asian	asian	PROPN
ajeer-220	336	8	journal	journal	PROPN
ajeer-220	336	9	of	of	ADP
ajeer-220	336	10	economics	economic	NOUN
ajeer-220	336	11	and	and	CCONJ
ajeer-220	336	12	empirical	empirical	ADJ
ajeer-220	336	13	research	research	NOUN
ajeer-220	336	14	,	,	PUNCT
ajeer-220	336	15	2016	2016	NUM
ajeer-220	336	16	,	,	PUNCT
ajeer-220	336	17	3(2):130	3(2):130	NUM
ajeer-220	336	18	-	-	SYM
ajeer-220	336	19	138	138	NUM
ajeer-220	336	20	138	138	NUM
ajeer-220	336	21	table-4.1	table-4.1	ADV
ajeer-220	336	22	.	.	PUNCT
ajeer-220	337	1	pre	pre	VERB
ajeer-220	337	2	and	and	CCONJ
ajeer-220	337	3	after	after	ADP
ajeer-220	337	4	results	result	NOUN
ajeer-220	337	5	calculation	calculation	NOUN
ajeer-220	337	6	for	for	ADP
ajeer-220	337	7	uk	uk	PROPN
ajeer-220	337	8	based	base	VERB
ajeer-220	337	9	companies	company	NOUN
ajeer-220	337	10	sampled	sample	VERB
ajeer-220	337	11	in	in	ADP
ajeer-220	337	12	this	this	DET
ajeer-220	337	13	study	study	NOUN
ajeer-220	337	14	average	average	NOUN
ajeer-220	337	15	2	2	NUM
ajeer-220	337	16	years	year	NOUN
ajeer-220	337	17	before	before	ADP
ajeer-220	337	18	average	average	ADJ
ajeer-220	337	19	1	1	NUM
ajeer-220	337	20	years	year	NOUN
ajeer-220	337	21	before	before	ADP
ajeer-220	337	22	average	average	ADJ
ajeer-220	337	23	years	year	NOUN
ajeer-220	337	24	of	of	ADP
ajeer-220	337	25	acquisition	acquisition	NOUN
ajeer-220	337	26	average	average	ADJ
ajeer-220	337	27	1	1	NUM
ajeer-220	337	28	years	year	NOUN
ajeer-220	337	29	after	after	ADP
ajeer-220	337	30	average	average	ADJ
ajeer-220	337	31	2	2	NUM
ajeer-220	337	32	years	year	NOUN
ajeer-220	337	33	after	after	ADP
ajeer-220	337	34	liquidity	liquidity	NOUN
ajeer-220	337	35	ratio	ratio	NOUN
ajeer-220	337	36	1.99682	1.99682	NUM
ajeer-220	337	37	1.96472	1.96472	NUM
ajeer-220	337	38	1.88070	1.88070	NUM
ajeer-220	337	39	1.86611	1.86611	NUM
ajeer-220	337	40	1.80036	1.80036	NUM
ajeer-220	337	41	debt	debt	NOUN
ajeer-220	337	42	profit	profit	NOUN
ajeer-220	337	43	ratio	ratio	NOUN
ajeer-220	337	44	1.25093	1.25093	NUM
ajeer-220	337	45	1.18827	1.18827	NUM
ajeer-220	337	46	1.22486	1.22486	NUM
ajeer-220	337	47	1.09945	1.09945	NUM
ajeer-220	337	48	1.25525	1.25525	NUM
ajeer-220	337	49	operating	operating	NOUN
ajeer-220	337	50	profit	profit	NOUN
ajeer-220	337	51	ratio	ratio	NOUN
ajeer-220	337	52	0.10196	0.10196	NUM
ajeer-220	337	53	0.12138	0.12138	NUM
ajeer-220	337	54	0.10477	0.10477	NUM
ajeer-220	337	55	0.11841	0.11841	NUM
ajeer-220	337	56	0.11976	0.11976	NUM
ajeer-220	337	57	net	net	ADJ
ajeer-220	337	58	profit	profit	NOUN
ajeer-220	337	59	ratio	ratio	NOUN
ajeer-220	337	60	0.09512	0.09512	NUM
ajeer-220	337	61	0.07966	0.07966	NUM
ajeer-220	337	62	0.07876	0.07876	NUM
ajeer-220	337	63	0.12452	0.12452	NUM
ajeer-220	337	64	0.06264	0.06264	NUM
ajeer-220	337	65	ronw	ronw	NOUN
ajeer-220	337	66	0.12758	0.12758	NUM
ajeer-220	337	67	0.10864	0.10864	NUM
ajeer-220	337	68	0.10951	0.10951	NUM
ajeer-220	337	69	0.11789	0.11789	NUM
ajeer-220	337	70	0.08776	0.08776	NUM
ajeer-220	337	71	source	source	NOUN
ajeer-220	337	72	:	:	PUNCT
ajeer-220	337	73	author	author	NOUN
ajeer-220	337	74	’s	’s	PART
ajeer-220	337	75	own	own	ADJ
ajeer-220	337	76	calculation	calculation	NOUN
ajeer-220	337	77	through	through	ADP
ajeer-220	337	78	excel	excel	ADJ
ajeer-220	337	79	table-4.2	table-4.2	PROPN
ajeer-220	337	80	.	.	PUNCT
ajeer-220	337	81	t	t	NOUN
ajeer-220	337	82	-	-	PUNCT
ajeer-220	337	83	tests	test	NOUN
ajeer-220	337	84	and	and	CCONJ
ajeer-220	337	85	descriptive	descriptive	ADJ
ajeer-220	337	86	statistics	statistic	NOUN
ajeer-220	337	87	for	for	ADP
ajeer-220	337	88	pre	pre	NOUN
ajeer-220	337	89	and	and	CCONJ
ajeer-220	337	90	after	after	ADP
ajeer-220	337	91	merger	merger	NOUN
ajeer-220	337	92	and	and	CCONJ
ajeer-220	337	93	acquisition	acquisition	NOUN
ajeer-220	337	94	ratio	ratio	NOUN
ajeer-220	337	95	mean	mean	VERB
ajeer-220	337	96	mean	mean	NOUN
ajeer-220	337	97	difference	difference	NOUN
ajeer-220	337	98	standard	standard	NOUN
ajeer-220	337	99	deviation	deviation	NOUN
ajeer-220	337	100	t	t	NOUN
ajeer-220	337	101	-	-	PUNCT
ajeer-220	337	102	test	test	NOUN
ajeer-220	337	103	liquidity	liquidity	NOUN
ajeer-220	337	104	before	before	ADP
ajeer-220	337	105	1.9808	1.9808	NUM
ajeer-220	337	106	0.0227	0.0227	NUM
ajeer-220	337	107	liquidity	liquidity	NOUN
ajeer-220	337	108	after	after	ADP
ajeer-220	337	109	1.8332	1.8332	NUM
ajeer-220	337	110	-0.1475	-0.1475	NOUN
ajeer-220	337	111	0.0465	0.0465	NUM
ajeer-220	337	112	0.0563	0.0563	NUM
ajeer-220	337	113	dept	dept	NOUN
ajeer-220	337	114	equity	equity	NOUN
ajeer-220	337	115	before	before	ADP
ajeer-220	337	116	1.2196	1.2196	NUM
ajeer-220	337	117	0.0443	0.0443	NUM
ajeer-220	337	118	debt	debt	NOUN
ajeer-220	337	119	equity	equity	NOUN
ajeer-220	337	120	after	after	ADP
ajeer-220	337	121	1.1774	1.1774	NUM
ajeer-220	337	122	-0.0422	-0.0422	NOUN
ajeer-220	337	123	0.1102	0.1102	NUM
ajeer-220	337	124	0.6648	0.6648	NUM
ajeer-220	337	125	operating	operating	NOUN
ajeer-220	337	126	profit	profit	NOUN
ajeer-220	337	127	before	before	ADP
ajeer-220	337	128	0.1117	0.1117	NUM
ajeer-220	337	129	0.0137	0.0137	NUM
ajeer-220	337	130	operating	operating	NOUN
ajeer-220	337	131	profit	profit	NOUN
ajeer-220	337	132	after	after	ADP
ajeer-220	337	133	0.1191	0.1191	NUM
ajeer-220	337	134	0.0074	0.0074	NUM
ajeer-220	337	135	0.0010	0.0010	NUM
ajeer-220	337	136	0.4165	0.4165	NUM
ajeer-220	337	137	net	net	ADJ
ajeer-220	337	138	profit	profit	NOUN
ajeer-220	337	139	before	before	ADP
ajeer-220	337	140	0.0874	0.0874	NUM
ajeer-220	337	141	0.0109	0.0109	NUM
ajeer-220	337	142	net	net	ADJ
ajeer-220	337	143	profit	profit	NOUN
ajeer-220	337	144	after	after	ADP
ajeer-220	337	145	0.0936	0.0936	NUM
ajeer-220	337	146	0.0062	0.0062	NUM
ajeer-220	337	147	0.0438	0.0438	NUM
ajeer-220	337	148	0.8640	0.8640	NUM
ajeer-220	337	149	ronw	ronw	NOUN
ajeer-220	337	150	before	before	ADP
ajeer-220	337	151	0.1181	0.1181	NUM
ajeer-220	337	152	0.0134	0.0134	NUM
ajeer-220	337	153	ronw	ronw	NOUN
ajeer-220	337	154	after	after	ADP
ajeer-220	337	155	0.1028	0.1028	NUM
ajeer-220	337	156	-0.0153	-0.0153	VERB
ajeer-220	337	157	0.0213	0.0213	NUM
ajeer-220	337	158	0.4809	0.4809	NUM
ajeer-220	337	159	source	source	NOUN
ajeer-220	337	160	:	:	PUNCT
ajeer-220	337	161	author	author	NOUN
ajeer-220	337	162	’s	’s	PART
ajeer-220	337	163	own	own	ADJ
ajeer-220	337	164	calculation	calculation	NOUN
ajeer-220	337	165	through	through	ADP
ajeer-220	337	166	excel	excel	NOUN
ajeer-220	337	167	figure-4.1	figure-4.1	NOUN
ajeer-220	337	168	.	.	PUNCT
ajeer-220	338	1	aar	aar	NOUN
ajeer-220	338	2	and	and	CCONJ
ajeer-220	338	3	caar	caar	NOUN
ajeer-220	338	4	results	result	VERB
ajeer-220	338	5	source	source	NOUN
ajeer-220	338	6	:	:	PUNCT
ajeer-220	338	7	author	author	NOUN
ajeer-220	338	8	’s	’s	PART
ajeer-220	338	9	own	own	ADJ
ajeer-220	338	10	calculation	calculation	NOUN
ajeer-220	338	11	through	through	ADP
ajeer-220	338	12	excel	excel	NOUN
ajeer-220	338	13	.	.	PUNCT
ajeer-220	339	1	asian	asian	ADJ
ajeer-220	339	2	online	online	PROPN
ajeer-220	339	3	journal	journal	PROPN
ajeer-220	339	4	publishing	publishing	NOUN
ajeer-220	339	5	group	group	NOUN
ajeer-220	339	6	is	be	AUX
ajeer-220	339	7	not	not	PART
ajeer-220	339	8	responsible	responsible	ADJ
ajeer-220	339	9	or	or	CCONJ
ajeer-220	339	10	answerable	answerable	ADJ
ajeer-220	339	11	for	for	ADP
ajeer-220	339	12	any	any	DET
ajeer-220	339	13	loss	loss	NOUN
ajeer-220	339	14	,	,	PUNCT
ajeer-220	339	15	damage	damage	NOUN
ajeer-220	339	16	or	or	CCONJ
ajeer-220	339	17	liability	liability	NOUN
ajeer-220	339	18	,	,	PUNCT
ajeer-220	339	19	etc	etc	X
ajeer-220	339	20	.	.	X
ajeer-220	339	21	caused	cause	VERB
ajeer-220	339	22	in	in	ADP
ajeer-220	339	23	relation	relation	NOUN
ajeer-220	339	24	to	to	PART
ajeer-220	339	25	/	/	PUNCT
ajeer-220	339	26	arising	arise	VERB
ajeer-220	339	27	out	out	ADP
ajeer-220	339	28	of	of	ADP
ajeer-220	339	29	the	the	DET
ajeer-220	339	30	use	use	NOUN
ajeer-220	339	31	of	of	ADP
ajeer-220	339	32	the	the	DET
ajeer-220	339	33	content	content	NOUN
ajeer-220	339	34	.	.	PUNCT
ajeer-220	340	1	any	any	DET
ajeer-220	340	2	queries	query	NOUN
ajeer-220	340	3	should	should	AUX
ajeer-220	340	4	be	be	AUX
ajeer-220	340	5	directed	direct	VERB
ajeer-220	340	6	to	to	ADP
ajeer-220	340	7	the	the	DET
ajeer-220	340	8	corresponding	corresponding	ADJ
ajeer-220	340	9	author	author	NOUN
ajeer-220	340	10	of	of	ADP
ajeer-220	340	11	the	the	DET
ajeer-220	340	12	article	article	NOUN
ajeer-220	340	13	.	.	PUNCT