id	sid	tid	token	lemma	pos
ajeer-236	1	1	asian	asian	PROPN
ajeer-236	1	2	journal	journal	PROPN
ajeer-236	1	3	of	of	ADP
ajeer-236	1	4	economics	economic	NOUN
ajeer-236	1	5	and	and	CCONJ
ajeer-236	1	6	empirical	empirical	ADJ
ajeer-236	1	7	research	research	NOUN
ajeer-236	1	8	vol	vol	NOUN
ajeer-236	1	9	.	.	PROPN
ajeer-236	2	1	4	4	NUM
ajeer-236	2	2	,	,	PUNCT
ajeer-236	2	3	no	no	INTJ
ajeer-236	2	4	.	.	NOUN
ajeer-236	2	5	2	2	NUM
ajeer-236	2	6	,	,	PUNCT
ajeer-236	2	7	106	106	NUM
ajeer-236	2	8	-	-	SYM
ajeer-236	2	9	120	120	NUM
ajeer-236	2	10	,	,	PUNCT
ajeer-236	2	11	2017	2017	NUM
ajeer-236	2	12	issn(e	issn(e	NOUN
ajeer-236	2	13	)	)	PUNCT
ajeer-236	2	14	2409	2409	NUM
ajeer-236	2	15	-	-	SYM
ajeer-236	2	16	2622	2622	NUM
ajeer-236	2	17	/	/	SYM
ajeer-236	2	18	issn(p	issn(p	PROPN
ajeer-236	2	19	)	)	PUNCT
ajeer-236	2	20	2518	2518	NUM
ajeer-236	2	21	-	-	PUNCT
ajeer-236	2	22	010x	010x	ADJ
ajeer-236	2	23	doi	doi	NOUN
ajeer-236	2	24	:	:	PUNCT
ajeer-236	2	25	10.20448	10.20448	NUM
ajeer-236	2	26	/	/	SYM
ajeer-236	2	27	journal.501.2017.42.106.120	journal.501.2017.42.106.120	ADJ
ajeer-236	2	28	106	106	NUM
ajeer-236	2	29	why	why	SCONJ
ajeer-236	2	30	are	be	AUX
ajeer-236	2	31	the	the	DET
ajeer-236	2	32	performances	performance	NOUN
ajeer-236	2	33	of	of	ADP
ajeer-236	2	34	business	business	NOUN
ajeer-236	2	35	groups	group	NOUN
ajeer-236	2	36	different	different	ADJ
ajeer-236	2	37	?	?	PUNCT
ajeer-236	3	1	a	a	DET
ajeer-236	3	2	case	case	NOUN
ajeer-236	3	3	study	study	NOUN
ajeer-236	3	4	of	of	ADP
ajeer-236	3	5	formosa	formosa	PROPN
ajeer-236	3	6	plastics	plastic	NOUN
ajeer-236	3	7	group	group	NOUN
ajeer-236	3	8	and	and	CCONJ
ajeer-236	3	9	far	far	ADV
ajeer-236	3	10	eastern	eastern	PROPN
ajeer-236	3	11	group	group	PROPN
ajeer-236	3	12	yu	yu	PROPN
ajeer-236	3	13	-	-	PUNCT
ajeer-236	3	14	wei	wei	PROPN
ajeer-236	3	15	lan1	lan1	PROPN
ajeer-236	3	16			PROPN
ajeer-236	3	17	dan	dan	PROPN
ajeer-236	3	18	lin2	lin2	PROPN
ajeer-236	3	19	lu	lu	PROPN
ajeer-236	3	20	lin3	lin3	PROPN
ajeer-236	3	21	(	(	PUNCT
ajeer-236	3	22			PROPN
ajeer-236	3	23	corresponding	correspond	VERB
ajeer-236	3	24	author	author	NOUN
ajeer-236	3	25	)	)	PUNCT
ajeer-236	3	26	1,2department	1,2department	NUM
ajeer-236	3	27	of	of	ADP
ajeer-236	3	28	banking	banking	NOUN
ajeer-236	3	29	and	and	CCONJ
ajeer-236	3	30	finance	finance	NOUN
ajeer-236	3	31	,	,	PUNCT
ajeer-236	3	32	takming	takme	VERB
ajeer-236	3	33	university	university	NOUN
ajeer-236	3	34	of	of	ADP
ajeer-236	3	35	science	science	NOUN
ajeer-236	3	36	and	and	CCONJ
ajeer-236	3	37	technology	technology	NOUN
ajeer-236	3	38	,	,	PUNCT
ajeer-236	3	39	taiwan	taiwan	PROPN
ajeer-236	3	40	3department	3department	NUM
ajeer-236	3	41	of	of	ADP
ajeer-236	3	42	public	public	ADJ
ajeer-236	3	43	finance	finance	NOUN
ajeer-236	3	44	and	and	CCONJ
ajeer-236	3	45	taxation	taxation	NOUN
ajeer-236	3	46	,	,	PUNCT
ajeer-236	3	47	takming	takme	VERB
ajeer-236	3	48	university	university	NOUN
ajeer-236	3	49	of	of	ADP
ajeer-236	3	50	science	science	NOUN
ajeer-236	3	51	and	and	CCONJ
ajeer-236	3	52	technology	technology	NOUN
ajeer-236	3	53	,	,	PUNCT
ajeer-236	3	54	taiwan	taiwan	PROPN
ajeer-236	3	55	abstract	abstract	ADV
ajeer-236	3	56	this	this	DET
ajeer-236	3	57	study	study	NOUN
ajeer-236	3	58	examines	examine	VERB
ajeer-236	3	59	the	the	DET
ajeer-236	3	60	difference	difference	NOUN
ajeer-236	3	61	in	in	ADP
ajeer-236	3	62	performances	performance	NOUN
ajeer-236	3	63	of	of	ADP
ajeer-236	3	64	two	two	NUM
ajeer-236	3	65	business	business	NOUN
ajeer-236	3	66	groups	group	NOUN
ajeer-236	3	67	,	,	PUNCT
ajeer-236	3	68	formosa	formosa	PROPN
ajeer-236	3	69	plastics	plastic	NOUN
ajeer-236	3	70	group	group	NOUN
ajeer-236	3	71	and	and	CCONJ
ajeer-236	3	72	far	far	ADV
ajeer-236	3	73	eastern	eastern	ADJ
ajeer-236	3	74	group	group	NOUN
ajeer-236	3	75	,	,	PUNCT
ajeer-236	3	76	under	under	ADP
ajeer-236	3	77	the	the	DET
ajeer-236	3	78	impact	impact	NOUN
ajeer-236	3	79	of	of	ADP
ajeer-236	3	80	financial	financial	ADJ
ajeer-236	3	81	tsunami	tsunami	NOUN
ajeer-236	3	82	(	(	PUNCT
ajeer-236	3	83	2007.10.29~2017.8.10	2007.10.29~2017.8.10	NUM
ajeer-236	3	84	)	)	PUNCT
ajeer-236	3	85	.	.	PUNCT
ajeer-236	4	1	the	the	DET
ajeer-236	4	2	aim	aim	NOUN
ajeer-236	4	3	of	of	ADP
ajeer-236	4	4	this	this	DET
ajeer-236	4	5	study	study	NOUN
ajeer-236	4	6	is	be	AUX
ajeer-236	4	7	to	to	PART
ajeer-236	4	8	help	help	VERB
ajeer-236	4	9	investors	investor	NOUN
ajeer-236	4	10	understand	understand	VERB
ajeer-236	4	11	the	the	DET
ajeer-236	4	12	operating	operating	NOUN
ajeer-236	4	13	model	model	NOUN
ajeer-236	4	14	of	of	ADP
ajeer-236	4	15	business	business	NOUN
ajeer-236	4	16	groups	group	NOUN
ajeer-236	4	17	and	and	CCONJ
ajeer-236	4	18	use	use	VERB
ajeer-236	4	19	the	the	DET
ajeer-236	4	20	herding	herd	VERB
ajeer-236	4	21	effect	effect	NOUN
ajeer-236	4	22	to	to	PART
ajeer-236	4	23	enhance	enhance	VERB
ajeer-236	4	24	the	the	DET
ajeer-236	4	25	trading	trading	NOUN
ajeer-236	4	26	performance	performance	NOUN
ajeer-236	4	27	in	in	ADP
ajeer-236	4	28	financial	financial	ADJ
ajeer-236	4	29	markets	market	NOUN
ajeer-236	4	30	.	.	PUNCT
ajeer-236	5	1	the	the	DET
ajeer-236	5	2	empirical	empirical	ADJ
ajeer-236	5	3	evidence	evidence	NOUN
ajeer-236	5	4	shows	show	VERB
ajeer-236	5	5	that	that	SCONJ
ajeer-236	5	6	for	for	ADP
ajeer-236	5	7	the	the	DET
ajeer-236	5	8	formosa	formosa	PROPN
ajeer-236	5	9	plastics	plastic	NOUN
ajeer-236	5	10	group	group	NOUN
ajeer-236	5	11	,	,	PUNCT
ajeer-236	5	12	the	the	DET
ajeer-236	5	13	news	news	NOUN
ajeer-236	5	14	impact	impact	NOUN
ajeer-236	5	15	curve	curve	NOUN
ajeer-236	5	16	(	(	PUNCT
ajeer-236	5	17	based	base	VERB
ajeer-236	5	18	on	on	ADP
ajeer-236	5	19	egarch	egarch	PROPN
ajeer-236	5	20	model	model	NOUN
ajeer-236	5	21	)	)	PUNCT
ajeer-236	5	22	including	include	VERB
ajeer-236	5	23	the	the	DET
ajeer-236	5	24	leading	lead	VERB
ajeer-236	5	25	company	company	NOUN
ajeer-236	5	26	is	be	AUX
ajeer-236	5	27	flatter	flatter	ADJ
ajeer-236	5	28	when	when	SCONJ
ajeer-236	5	29	the	the	DET
ajeer-236	5	30	news	news	NOUN
ajeer-236	5	31	impact	impact	NOUN
ajeer-236	5	32	is	be	AUX
ajeer-236	5	33	less	less	ADJ
ajeer-236	5	34	than	than	ADP
ajeer-236	5	35	zero	zero	NUM
ajeer-236	5	36	(	(	PUNCT
ajeer-236	5	37	that	that	PRON
ajeer-236	5	38	is	be	AUX
ajeer-236	5	39	,	,	PUNCT
ajeer-236	5	40	negative	negative	ADJ
ajeer-236	5	41	news	news	NOUN
ajeer-236	5	42	impact	impact	NOUN
ajeer-236	5	43	)	)	PUNCT
ajeer-236	5	44	than	than	ADP
ajeer-236	5	45	the	the	DET
ajeer-236	5	46	news	news	NOUN
ajeer-236	5	47	impact	impact	NOUN
ajeer-236	5	48	curve	curve	NOUN
ajeer-236	5	49	excluding	exclude	VERB
ajeer-236	5	50	the	the	DET
ajeer-236	5	51	leading	lead	VERB
ajeer-236	5	52	company	company	NOUN
ajeer-236	5	53	.	.	PUNCT
ajeer-236	6	1	in	in	ADP
ajeer-236	6	2	contrast	contrast	NOUN
ajeer-236	6	3	,	,	PUNCT
ajeer-236	6	4	the	the	DET
ajeer-236	6	5	news	news	NOUN
ajeer-236	6	6	impact	impact	NOUN
ajeer-236	6	7	curve	curve	NOUN
ajeer-236	6	8	of	of	ADP
ajeer-236	6	9	the	the	DET
ajeer-236	6	10	far	far	ADV
ajeer-236	6	11	eastern	eastern	ADJ
ajeer-236	6	12	group	group	NOUN
ajeer-236	6	13	is	be	AUX
ajeer-236	6	14	steeper	steep	ADJ
ajeer-236	6	15	when	when	SCONJ
ajeer-236	6	16	the	the	DET
ajeer-236	6	17	leading	lead	VERB
ajeer-236	6	18	company	company	NOUN
ajeer-236	6	19	is	be	AUX
ajeer-236	6	20	included	include	VERB
ajeer-236	6	21	.	.	PUNCT
ajeer-236	7	1	moreover	moreover	ADV
ajeer-236	7	2	,	,	PUNCT
ajeer-236	7	3	when	when	SCONJ
ajeer-236	7	4	the	the	DET
ajeer-236	7	5	leading	lead	VERB
ajeer-236	7	6	company	company	NOUN
ajeer-236	7	7	is	be	AUX
ajeer-236	7	8	included	include	VERB
ajeer-236	7	9	as	as	ADP
ajeer-236	7	10	an	an	DET
ajeer-236	7	11	endogeneous	endogeneous	ADJ
ajeer-236	7	12	variable	variable	NOUN
ajeer-236	7	13	in	in	ADP
ajeer-236	7	14	the	the	DET
ajeer-236	7	15	model	model	NOUN
ajeer-236	7	16	as	as	ADP
ajeer-236	7	17	a	a	DET
ajeer-236	7	18	filter	filter	NOUN
ajeer-236	7	19	for	for	ADP
ajeer-236	7	20	the	the	DET
ajeer-236	7	21	program	program	NOUN
ajeer-236	7	22	trading	trading	NOUN
ajeer-236	7	23	simulation	simulation	NOUN
ajeer-236	7	24	,	,	PUNCT
ajeer-236	7	25	results	result	NOUN
ajeer-236	7	26	show	show	VERB
ajeer-236	7	27	that	that	SCONJ
ajeer-236	7	28	investors	investor	NOUN
ajeer-236	7	29	can	can	AUX
ajeer-236	7	30	profit	profit	VERB
ajeer-236	7	31	from	from	ADP
ajeer-236	7	32	the	the	DET
ajeer-236	7	33	formosa	formosa	PROPN
ajeer-236	7	34	plastics	plastic	NOUN
ajeer-236	7	35	group	group	NOUN
ajeer-236	7	36	.	.	PUNCT
ajeer-236	8	1	therefore	therefore	ADV
ajeer-236	8	2	,	,	PUNCT
ajeer-236	8	3	business	business	NOUN
ajeer-236	8	4	groups	group	NOUN
ajeer-236	8	5	that	that	PRON
ajeer-236	8	6	include	include	VERB
ajeer-236	8	7	the	the	DET
ajeer-236	8	8	leading	lead	VERB
ajeer-236	8	9	company	company	NOUN
ajeer-236	8	10	have	have	VERB
ajeer-236	8	11	lower	low	ADJ
ajeer-236	8	12	risks	risk	NOUN
ajeer-236	8	13	.	.	PUNCT
ajeer-236	9	1	it	it	PRON
ajeer-236	9	2	is	be	AUX
ajeer-236	9	3	beneficial	beneficial	ADJ
ajeer-236	9	4	to	to	ADP
ajeer-236	9	5	the	the	DET
ajeer-236	9	6	stability	stability	NOUN
ajeer-236	9	7	of	of	ADP
ajeer-236	9	8	the	the	DET
ajeer-236	9	9	market	market	NOUN
ajeer-236	9	10	trading	trading	NOUN
ajeer-236	9	11	by	by	ADP
ajeer-236	9	12	incorporating	incorporate	VERB
ajeer-236	9	13	the	the	DET
ajeer-236	9	14	leverage	leverage	NOUN
ajeer-236	9	15	effect	effect	NOUN
ajeer-236	9	16	of	of	ADP
ajeer-236	9	17	the	the	DET
ajeer-236	9	18	leading	lead	VERB
ajeer-236	9	19	company	company	NOUN
ajeer-236	9	20	in	in	ADP
ajeer-236	9	21	business	business	NOUN
ajeer-236	9	22	groups	group	NOUN
ajeer-236	9	23	.	.	PUNCT
ajeer-236	10	1	on	on	ADP
ajeer-236	10	2	the	the	DET
ajeer-236	10	3	contrary	contrary	NOUN
ajeer-236	10	4	,	,	PUNCT
ajeer-236	10	5	the	the	DET
ajeer-236	10	6	leading	lead	VERB
ajeer-236	10	7	company	company	NOUN
ajeer-236	10	8	of	of	ADP
ajeer-236	10	9	the	the	DET
ajeer-236	10	10	far	far	ADV
ajeer-236	10	11	eastern	eastern	ADJ
ajeer-236	10	12	group	group	NOUN
ajeer-236	10	13	does	do	AUX
ajeer-236	10	14	not	not	PART
ajeer-236	10	15	have	have	VERB
ajeer-236	10	16	such	such	DET
ajeer-236	10	17	an	an	DET
ajeer-236	10	18	effect	effect	NOUN
ajeer-236	10	19	.	.	PUNCT
ajeer-236	11	1	the	the	DET
ajeer-236	11	2	absolute	absolute	ADJ
ajeer-236	11	3	profits	profit	NOUN
ajeer-236	11	4	and	and	CCONJ
ajeer-236	11	5	the	the	DET
ajeer-236	11	6	increment	increment	NOUN
ajeer-236	11	7	of	of	ADP
ajeer-236	11	8	performance	performance	NOUN
ajeer-236	11	9	are	be	AUX
ajeer-236	11	10	both	both	ADV
ajeer-236	11	11	lower	low	ADJ
ajeer-236	11	12	than	than	ADP
ajeer-236	11	13	that	that	PRON
ajeer-236	11	14	of	of	ADP
ajeer-236	11	15	the	the	DET
ajeer-236	11	16	formosa	formosa	PROPN
ajeer-236	11	17	plastics	plastic	NOUN
ajeer-236	11	18	group	group	NOUN
ajeer-236	11	19	.	.	PUNCT
ajeer-236	12	1	the	the	DET
ajeer-236	12	2	results	result	NOUN
ajeer-236	12	3	suggest	suggest	VERB
ajeer-236	12	4	that	that	SCONJ
ajeer-236	12	5	the	the	DET
ajeer-236	12	6	diversification	diversification	NOUN
ajeer-236	12	7	strategy	strategy	NOUN
ajeer-236	12	8	of	of	ADP
ajeer-236	12	9	far	far	ADJ
ajeer-236	12	10	eastern	eastern	ADJ
ajeer-236	12	11	group	group	NOUN
ajeer-236	12	12	is	be	AUX
ajeer-236	12	13	worse	bad	ADJ
ajeer-236	12	14	than	than	ADP
ajeer-236	12	15	the	the	DET
ajeer-236	12	16	vertical	vertical	ADJ
ajeer-236	12	17	integration	integration	NOUN
ajeer-236	12	18	strategy	strategy	NOUN
ajeer-236	12	19	of	of	ADP
ajeer-236	12	20	the	the	DET
ajeer-236	12	21	formosa	formosa	PROPN
ajeer-236	12	22	plastics	plastic	NOUN
ajeer-236	12	23	group	group	NOUN
ajeer-236	12	24	.	.	PUNCT
ajeer-236	13	1	the	the	DET
ajeer-236	13	2	implication	implication	NOUN
ajeer-236	13	3	is	be	AUX
ajeer-236	13	4	that	that	SCONJ
ajeer-236	13	5	investors	investor	NOUN
ajeer-236	13	6	should	should	AUX
ajeer-236	13	7	carefully	carefully	ADV
ajeer-236	13	8	choose	choose	VERB
ajeer-236	13	9	the	the	DET
ajeer-236	13	10	business	business	NOUN
ajeer-236	13	11	group	group	NOUN
ajeer-236	13	12	for	for	ADP
ajeer-236	13	13	investment	investment	NOUN
ajeer-236	13	14	if	if	SCONJ
ajeer-236	13	15	they	they	PRON
ajeer-236	13	16	are	be	AUX
ajeer-236	13	17	to	to	PART
ajeer-236	13	18	utilize	utilize	VERB
ajeer-236	13	19	the	the	DET
ajeer-236	13	20	herding	herding	NOUN
ajeer-236	13	21	effect	effect	NOUN
ajeer-236	13	22	in	in	ADP
ajeer-236	13	23	investment	investment	NOUN
ajeer-236	13	24	.	.	PUNCT
ajeer-236	14	1	keywords	keyword	NOUN
ajeer-236	14	2	:	:	PUNCT
ajeer-236	14	3	family	family	NOUN
ajeer-236	14	4	business	business	NOUN
ajeer-236	14	5	,	,	PUNCT
ajeer-236	14	6	egarch	egarch	NOUN
ajeer-236	14	7	,	,	PUNCT
ajeer-236	14	8	herd	herd	ADJ
ajeer-236	14	9	effect	effect	NOUN
ajeer-236	14	10	,	,	PUNCT
ajeer-236	14	11	granger	granger	PROPN
ajeer-236	14	12	causality	causality	PROPN
ajeer-236	14	13	test	test	NOUN
ajeer-236	14	14	,	,	PUNCT
ajeer-236	14	15	symmetric	symmetric	ADJ
ajeer-236	14	16	trading	trading	NOUN
ajeer-236	14	17	.	.	PUNCT
ajeer-236	15	1	citation	citation	NOUN
ajeer-236	15	2	|	|	PROPN
ajeer-236	15	3	yu	yu	PROPN
ajeer-236	15	4	-	-	PUNCT
ajeer-236	15	5	wei	wei	PROPN
ajeer-236	15	6	lan	lan	PROPN
ajeer-236	15	7	;	;	PUNCT
ajeer-236	15	8	dan	dan	PROPN
ajeer-236	15	9	lin	lin	PROPN
ajeer-236	15	10	;	;	PUNCT
ajeer-236	15	11	lu	lu	PROPN
ajeer-236	15	12	lin	lin	PROPN
ajeer-236	15	13	(	(	PUNCT
ajeer-236	15	14	2017	2017	NUM
ajeer-236	15	15	)	)	PUNCT
ajeer-236	15	16	.	.	PUNCT
ajeer-236	16	1	why	why	SCONJ
ajeer-236	16	2	are	be	AUX
ajeer-236	16	3	the	the	DET
ajeer-236	16	4	performances	performance	NOUN
ajeer-236	16	5	of	of	ADP
ajeer-236	16	6	business	business	NOUN
ajeer-236	16	7	groups	group	NOUN
ajeer-236	16	8	different	different	ADJ
ajeer-236	16	9	?	?	PUNCT
ajeer-236	17	1	a	a	DET
ajeer-236	17	2	case	case	NOUN
ajeer-236	17	3	study	study	NOUN
ajeer-236	17	4	of	of	ADP
ajeer-236	17	5	formosa	formosa	PROPN
ajeer-236	17	6	plastics	plastic	NOUN
ajeer-236	17	7	group	group	NOUN
ajeer-236	17	8	and	and	CCONJ
ajeer-236	17	9	far	far	ADV
ajeer-236	17	10	eastern	eastern	ADJ
ajeer-236	17	11	group	group	NOUN
ajeer-236	17	12	.	.	PUNCT
ajeer-236	18	1	asian	asian	ADJ
ajeer-236	18	2	journal	journal	PROPN
ajeer-236	18	3	of	of	ADP
ajeer-236	18	4	economics	economic	NOUN
ajeer-236	18	5	and	and	CCONJ
ajeer-236	18	6	empirical	empirical	ADJ
ajeer-236	18	7	research	research	NOUN
ajeer-236	18	8	,	,	PUNCT
ajeer-236	18	9	4(2	4(2	NUM
ajeer-236	18	10	):	):	PUNCT
ajeer-236	18	11	106	106	NUM
ajeer-236	18	12	-	-	SYM
ajeer-236	18	13	120	120	NUM
ajeer-236	18	14	.	.	PUNCT
ajeer-236	19	1	history	history	NOUN
ajeer-236	19	2	:	:	PUNCT
ajeer-236	19	3	received	receive	VERB
ajeer-236	19	4	:	:	PUNCT
ajeer-236	19	5	18	18	NUM
ajeer-236	19	6	october	october	PROPN
ajeer-236	19	7	2017	2017	NUM
ajeer-236	19	8	revised	revise	VERB
ajeer-236	19	9	:	:	PUNCT
ajeer-236	19	10	8	8	NUM
ajeer-236	19	11	november	november	PROPN
ajeer-236	19	12	2017	2017	NUM
ajeer-236	19	13	accepted	accept	VERB
ajeer-236	19	14	:	:	PUNCT
ajeer-236	19	15	13	13	NUM
ajeer-236	19	16	november	november	PROPN
ajeer-236	19	17	2017	2017	NUM
ajeer-236	19	18	published	publish	VERB
ajeer-236	19	19	:	:	PUNCT
ajeer-236	19	20	16	16	NUM
ajeer-236	19	21	november	november	PROPN
ajeer-236	19	22	2017	2017	NUM
ajeer-236	19	23	licensed	license	VERB
ajeer-236	19	24	:	:	PUNCT
ajeer-236	19	25	this	this	DET
ajeer-236	19	26	work	work	NOUN
ajeer-236	19	27	is	be	AUX
ajeer-236	19	28	licensed	license	VERB
ajeer-236	19	29	under	under	ADP
ajeer-236	19	30	a	a	DET
ajeer-236	19	31	creative	creative	ADJ
ajeer-236	19	32	commons	common	NOUN
ajeer-236	19	33	attribution	attribution	NOUN
ajeer-236	19	34	3.0	3.0	NUM
ajeer-236	19	35	license	license	NOUN
ajeer-236	19	36	publisher	publisher	NOUN
ajeer-236	19	37	:	:	PUNCT
ajeer-236	19	38	asian	asian	ADJ
ajeer-236	19	39	online	online	PROPN
ajeer-236	19	40	journal	journal	PROPN
ajeer-236	19	41	publishing	publishing	NOUN
ajeer-236	19	42	group	group	NOUN
ajeer-236	19	43	contribution	contribution	NOUN
ajeer-236	19	44	/	/	SYM
ajeer-236	19	45	acknowledgement	acknowledgement	NOUN
ajeer-236	19	46	:	:	PUNCT
ajeer-236	19	47	all	all	DET
ajeer-236	19	48	authors	author	NOUN
ajeer-236	19	49	contributed	contribute	VERB
ajeer-236	19	50	to	to	ADP
ajeer-236	19	51	the	the	DET
ajeer-236	19	52	conception	conception	NOUN
ajeer-236	19	53	and	and	CCONJ
ajeer-236	19	54	design	design	NOUN
ajeer-236	19	55	of	of	ADP
ajeer-236	19	56	the	the	DET
ajeer-236	19	57	study	study	NOUN
ajeer-236	19	58	.	.	PUNCT
ajeer-236	20	1	funding	funding	NOUN
ajeer-236	20	2	:	:	PUNCT
ajeer-236	20	3	this	this	DET
ajeer-236	20	4	study	study	NOUN
ajeer-236	20	5	received	receive	VERB
ajeer-236	20	6	no	no	DET
ajeer-236	20	7	specific	specific	ADJ
ajeer-236	20	8	financial	financial	ADJ
ajeer-236	20	9	support	support	NOUN
ajeer-236	20	10	.	.	PUNCT
ajeer-236	21	1	competing	compete	VERB
ajeer-236	21	2	interests	interest	NOUN
ajeer-236	21	3	:	:	PUNCT
ajeer-236	21	4	the	the	DET
ajeer-236	21	5	authors	author	NOUN
ajeer-236	21	6	declare	declare	VERB
ajeer-236	21	7	that	that	SCONJ
ajeer-236	21	8	they	they	PRON
ajeer-236	21	9	have	have	VERB
ajeer-236	21	10	no	no	DET
ajeer-236	21	11	conflict	conflict	NOUN
ajeer-236	21	12	of	of	ADP
ajeer-236	21	13	interests	interest	NOUN
ajeer-236	21	14	.	.	PUNCT
ajeer-236	22	1	transparency	transparency	NOUN
ajeer-236	22	2	:	:	PUNCT
ajeer-236	22	3	the	the	DET
ajeer-236	22	4	authors	author	NOUN
ajeer-236	22	5	confirm	confirm	VERB
ajeer-236	22	6	that	that	SCONJ
ajeer-236	22	7	the	the	DET
ajeer-236	22	8	manuscript	manuscript	NOUN
ajeer-236	22	9	is	be	AUX
ajeer-236	22	10	an	an	DET
ajeer-236	22	11	honest	honest	ADJ
ajeer-236	22	12	,	,	PUNCT
ajeer-236	22	13	accurate	accurate	ADJ
ajeer-236	22	14	,	,	PUNCT
ajeer-236	22	15	and	and	CCONJ
ajeer-236	22	16	transparent	transparent	ADJ
ajeer-236	22	17	account	account	NOUN
ajeer-236	22	18	of	of	ADP
ajeer-236	22	19	the	the	DET
ajeer-236	22	20	study	study	NOUN
ajeer-236	22	21	was	be	AUX
ajeer-236	22	22	reported	report	VERB
ajeer-236	22	23	;	;	PUNCT
ajeer-236	22	24	that	that	SCONJ
ajeer-236	22	25	no	no	DET
ajeer-236	22	26	vital	vital	ADJ
ajeer-236	22	27	features	feature	NOUN
ajeer-236	22	28	of	of	ADP
ajeer-236	22	29	the	the	DET
ajeer-236	22	30	study	study	NOUN
ajeer-236	22	31	have	have	AUX
ajeer-236	22	32	been	be	AUX
ajeer-236	22	33	omitted	omit	VERB
ajeer-236	22	34	;	;	PUNCT
ajeer-236	22	35	and	and	CCONJ
ajeer-236	22	36	that	that	SCONJ
ajeer-236	22	37	any	any	DET
ajeer-236	22	38	discrepancies	discrepancy	NOUN
ajeer-236	22	39	from	from	ADP
ajeer-236	22	40	the	the	DET
ajeer-236	22	41	study	study	NOUN
ajeer-236	22	42	as	as	SCONJ
ajeer-236	22	43	planned	plan	VERB
ajeer-236	22	44	have	have	AUX
ajeer-236	22	45	been	be	AUX
ajeer-236	22	46	explained	explain	VERB
ajeer-236	22	47	.	.	PUNCT
ajeer-236	23	1	ethical	ethical	ADJ
ajeer-236	23	2	:	:	PUNCT
ajeer-236	23	3	this	this	DET
ajeer-236	23	4	study	study	NOUN
ajeer-236	23	5	follows	follow	VERB
ajeer-236	23	6	all	all	DET
ajeer-236	23	7	ethical	ethical	ADJ
ajeer-236	23	8	practices	practice	NOUN
ajeer-236	23	9	during	during	ADP
ajeer-236	23	10	writing	writing	NOUN
ajeer-236	23	11	.	.	PUNCT
ajeer-236	24	1	contents	content	NOUN
ajeer-236	24	2	1	1	NUM
ajeer-236	24	3	.	.	PUNCT
ajeer-236	25	1	introduction	introduction	NOUN
ajeer-236	25	2	....................................................................................................................................................................................	....................................................................................................................................................................................	VERB
ajeer-236	25	3	107	107	NUM
ajeer-236	25	4	2	2	NUM
ajeer-236	25	5	.	.	PUNCT
ajeer-236	25	6	literature	literature	PROPN
ajeer-236	25	7	review	review	PROPN
ajeer-236	25	8	..........................................................................................................................................................................	..........................................................................................................................................................................	PUNCT
ajeer-236	26	1	107	107	NUM
ajeer-236	26	2	3	3	NUM
ajeer-236	26	3	.	.	PUNCT
ajeer-236	26	4	research	research	NOUN
ajeer-236	26	5	methods	method	NOUN
ajeer-236	26	6	..........................................................................................................................................................................	..........................................................................................................................................................................	PUNCT
ajeer-236	27	1	108	108	NUM
ajeer-236	27	2	4	4	NUM
ajeer-236	27	3	.	.	PUNCT
ajeer-236	27	4	data	datum	NOUN
ajeer-236	27	5	..................................................................................................................................................................................................	..................................................................................................................................................................................................	PUNCT
ajeer-236	28	1	110	110	NUM
ajeer-236	28	2	5	5	NUM
ajeer-236	28	3	.	.	PUNCT
ajeer-236	28	4	empirical	empirical	ADJ
ajeer-236	28	5	results	result	NOUN
ajeer-236	28	6	of	of	ADP
ajeer-236	28	7	the	the	DET
ajeer-236	28	8	formosa	formosa	PROPN
ajeer-236	28	9	plastics	plastic	NOUN
ajeer-236	28	10	group	group	NOUN
ajeer-236	28	11	..................................................................................................................	..................................................................................................................	PUNCT
ajeer-236	28	12	110	110	NUM
ajeer-236	28	13	6	6	NUM
ajeer-236	28	14	.	.	PUNCT
ajeer-236	29	1	empirical	empirical	ADJ
ajeer-236	29	2	results	result	NOUN
ajeer-236	29	3	of	of	ADP
ajeer-236	29	4	the	the	DET
ajeer-236	29	5	far	far	ADV
ajeer-236	29	6	eastern	eastern	ADJ
ajeer-236	29	7	group	group	NOUN
ajeer-236	29	8	............................................................................................................................	............................................................................................................................	PUNCT
ajeer-236	30	1	115	115	NUM
ajeer-236	30	2	7	7	NUM
ajeer-236	30	3	.	.	PUNCT
ajeer-236	30	4	conclusion	conclusion	NOUN
ajeer-236	30	5	and	and	CCONJ
ajeer-236	30	6	discussion	discussion	NOUN
ajeer-236	30	7	on	on	ADP
ajeer-236	30	8	investment	investment	NOUN
ajeer-236	30	9	strategies	strategy	NOUN
ajeer-236	30	10	............................................................................................................	............................................................................................................	NOUN
ajeer-236	30	11	119	119	NUM
ajeer-236	30	12	references	reference	NOUN
ajeer-236	30	13	............................................................................................................................................................................................	............................................................................................................................................................................................	VERB
ajeer-236	31	1	119	119	NUM
ajeer-236	31	2	appendixes	appendix	NOUN
ajeer-236	31	3	..........................................................................................................................................................................................	..........................................................................................................................................................................................	PUNCT
ajeer-236	31	4	120	120	NUM
ajeer-236	31	5	http://creativecommons.org/licenses/by/3.0/	http://creativecommons.org/licenses/by/3.0/	PROPN
ajeer-236	31	6	http://creativecommons.org/licenses/by/3.0/	http://creativecommons.org/licenses/by/3.0/	PROPN
ajeer-236	31	7	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	PROPN
ajeer-236	31	8	lan	lan	PROPN
ajeer-236	31	9	https://orcid.org/orcid-search/quick-search?searchquery=dan	https://orcid.org/orcid-search/quick-search?searchquery=dan	PROPN
ajeer-236	31	10	lin	lin	PROPN
ajeer-236	32	1	https://orcid.org/orcid-search/quick-search?searchquery=lu	https://orcid.org/orcid-search/quick-search?searchquery=lu	PROPN
ajeer-236	32	2	lin	lin	PROPN
ajeer-236	32	3	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	PROPN
ajeer-236	32	4	lan	lan	PROPN
ajeer-236	33	1	https://orcid.org/orcid-search/quick-search?searchquery=dan	https://orcid.org/orcid-search/quick-search?searchquery=dan	PROPN
ajeer-236	33	2	lin	lin	PROPN
ajeer-236	33	3	https://orcid.org/orcid-search/quick-search?searchquery=lu	https://orcid.org/orcid-search/quick-search?searchquery=lu	PROPN
ajeer-236	33	4	lin	lin	PROPN
ajeer-236	33	5	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	PROPN
ajeer-236	33	6	lan	lan	PROPN
ajeer-236	33	7	https://orcid.org/orcid-search/quick-search?searchquery=dan	https://orcid.org/orcid-search/quick-search?searchquery=dan	PROPN
ajeer-236	33	8	lin	lin	PROPN
ajeer-236	33	9	https://orcid.org/orcid-search/quick-search?searchquery=lu	https://orcid.org/orcid-search/quick-search?searchquery=lu	PROPN
ajeer-236	33	10	lin	lin	PROPN
ajeer-236	33	11	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	https://orcid.org/orcid-search/quick-search?searchquery=yu-wei	PROPN
ajeer-236	33	12	lan	lan	PROPN
ajeer-236	33	13	https://orcid.org/orcid-search/quick-search?searchquery=dan	https://orcid.org/orcid-search/quick-search?searchquery=dan	PROPN
ajeer-236	33	14	lin	lin	PROPN
ajeer-236	33	15	https://orcid.org/orcid-search/quick-search?searchquery=lu	https://orcid.org/orcid-search/quick-search?searchquery=lu	PROPN
ajeer-236	33	16	lin	lin	PROPN
ajeer-236	33	17	asian	asian	PROPN
ajeer-236	33	18	journal	journal	PROPN
ajeer-236	33	19	of	of	ADP
ajeer-236	33	20	economics	economic	NOUN
ajeer-236	33	21	and	and	CCONJ
ajeer-236	33	22	empirical	empirical	ADJ
ajeer-236	33	23	research	research	NOUN
ajeer-236	33	24	,	,	PUNCT
ajeer-236	33	25	2017	2017	NUM
ajeer-236	33	26	,	,	PUNCT
ajeer-236	33	27	4(2	4(2	NUM
ajeer-236	33	28	):	):	PUNCT
ajeer-236	33	29	106	106	NUM
ajeer-236	33	30	-	-	SYM
ajeer-236	33	31	120	120	NUM
ajeer-236	33	32	107	107	NUM
ajeer-236	33	33	1	1	NUM
ajeer-236	33	34	.	.	PUNCT
ajeer-236	34	1	introduction	introduction	NOUN
ajeer-236	34	2	all	all	DET
ajeer-236	34	3	business	business	NOUN
ajeer-236	34	4	groups	group	NOUN
ajeer-236	34	5	around	around	ADP
ajeer-236	34	6	the	the	DET
ajeer-236	34	7	world	world	NOUN
ajeer-236	34	8	are	be	AUX
ajeer-236	34	9	formed	form	VERB
ajeer-236	34	10	based	base	VERB
ajeer-236	34	11	on	on	ADP
ajeer-236	34	12	independent	independent	ADJ
ajeer-236	34	13	companies	company	NOUN
ajeer-236	34	14	.	.	PUNCT
ajeer-236	35	1	businesses	business	NOUN
ajeer-236	35	2	that	that	PRON
ajeer-236	35	3	have	have	VERB
ajeer-236	35	4	certain	certain	ADJ
ajeer-236	35	5	resources	resource	NOUN
ajeer-236	35	6	(	(	PUNCT
ajeer-236	35	7	such	such	ADJ
ajeer-236	35	8	as	as	ADP
ajeer-236	35	9	entrepreneurial	entrepreneurial	ADJ
ajeer-236	35	10	skills	skill	NOUN
ajeer-236	35	11	and	and	CCONJ
ajeer-236	35	12	technical	technical	ADJ
ajeer-236	35	13	skills	skill	NOUN
ajeer-236	35	14	)	)	PUNCT
ajeer-236	35	15	are	be	AUX
ajeer-236	35	16	likely	likely	ADJ
ajeer-236	35	17	to	to	PART
ajeer-236	35	18	profit	profit	VERB
ajeer-236	35	19	from	from	ADP
ajeer-236	35	20	other	other	ADJ
ajeer-236	35	21	businesses	business	NOUN
ajeer-236	35	22	.	.	PUNCT
ajeer-236	36	1	alternatively	alternatively	ADV
ajeer-236	36	2	,	,	PUNCT
ajeer-236	36	3	businesses	business	NOUN
ajeer-236	36	4	can	can	AUX
ajeer-236	36	5	lower	lower	VERB
ajeer-236	36	6	the	the	DET
ajeer-236	36	7	risks	risk	NOUN
ajeer-236	36	8	through	through	ADP
ajeer-236	36	9	diversifications	diversification	NOUN
ajeer-236	36	10	.	.	PUNCT
ajeer-236	37	1	when	when	SCONJ
ajeer-236	37	2	there	there	PRON
ajeer-236	37	3	is	be	VERB
ajeer-236	37	4	a	a	DET
ajeer-236	37	5	lack	lack	NOUN
ajeer-236	37	6	of	of	ADP
ajeer-236	37	7	basic	basic	ADJ
ajeer-236	37	8	infrastructure	infrastructure	NOUN
ajeer-236	37	9	or	or	CCONJ
ajeer-236	37	10	weak	weak	ADJ
ajeer-236	37	11	social	social	ADJ
ajeer-236	37	12	economic	economic	ADJ
ajeer-236	37	13	and	and	CCONJ
ajeer-236	37	14	legal	legal	ADJ
ajeer-236	37	15	systems	system	NOUN
ajeer-236	37	16	,	,	PUNCT
ajeer-236	37	17	the	the	DET
ajeer-236	37	18	cost	cost	NOUN
ajeer-236	37	19	of	of	ADP
ajeer-236	37	20	transactions	transaction	NOUN
ajeer-236	37	21	between	between	ADP
ajeer-236	37	22	buyers	buyer	NOUN
ajeer-236	37	23	and	and	CCONJ
ajeer-236	37	24	sellers	seller	NOUN
ajeer-236	37	25	can	can	AUX
ajeer-236	37	26	be	be	AUX
ajeer-236	37	27	expensive	expensive	ADJ
ajeer-236	37	28	.	.	PUNCT
ajeer-236	38	1	it	it	PRON
ajeer-236	38	2	may	may	AUX
ajeer-236	38	3	be	be	AUX
ajeer-236	38	4	cheaper	cheap	ADJ
ajeer-236	38	5	and	and	CCONJ
ajeer-236	38	6	more	more	ADV
ajeer-236	38	7	efficient	efficient	ADJ
ajeer-236	38	8	to	to	PART
ajeer-236	38	9	trade	trade	VERB
ajeer-236	38	10	within	within	ADP
ajeer-236	38	11	the	the	DET
ajeer-236	38	12	business	business	NOUN
ajeer-236	38	13	group	group	NOUN
ajeer-236	38	14	.	.	PUNCT
ajeer-236	39	1	some	some	DET
ajeer-236	39	2	business	business	NOUN
ajeer-236	39	3	groups	group	NOUN
ajeer-236	39	4	may	may	AUX
ajeer-236	39	5	even	even	ADV
ajeer-236	39	6	use	use	VERB
ajeer-236	39	7	this	this	DET
ajeer-236	39	8	method	method	NOUN
ajeer-236	39	9	to	to	PART
ajeer-236	39	10	monopolize	monopolize	VERB
ajeer-236	39	11	the	the	DET
ajeer-236	39	12	market	market	NOUN
ajeer-236	39	13	.	.	PUNCT
ajeer-236	40	1	therefore	therefore	ADV
ajeer-236	40	2	,	,	PUNCT
ajeer-236	40	3	some	some	DET
ajeer-236	40	4	business	business	NOUN
ajeer-236	40	5	groups	group	NOUN
ajeer-236	40	6	attempt	attempt	VERB
ajeer-236	40	7	to	to	PART
ajeer-236	40	8	diversify	diversify	VERB
ajeer-236	40	9	by	by	ADP
ajeer-236	40	10	connecting	connect	VERB
ajeer-236	40	11	several	several	ADJ
ajeer-236	40	12	unrelated	unrelated	ADJ
ajeer-236	40	13	businesses	business	NOUN
ajeer-236	40	14	through	through	ADP
ajeer-236	40	15	formal	formal	ADJ
ajeer-236	40	16	stock	stock	NOUN
ajeer-236	40	17	holdings	holding	NOUN
ajeer-236	40	18	or	or	CCONJ
ajeer-236	40	19	informal	informal	ADJ
ajeer-236	40	20	family	family	NOUN
ajeer-236	40	21	networks	network	NOUN
ajeer-236	40	22	.	.	PUNCT
ajeer-236	41	1	some	some	DET
ajeer-236	41	2	other	other	ADJ
ajeer-236	41	3	business	business	NOUN
ajeer-236	41	4	groups	group	NOUN
ajeer-236	41	5	operate	operate	VERB
ajeer-236	41	6	by	by	ADP
ajeer-236	41	7	focusing	focus	VERB
ajeer-236	41	8	on	on	ADP
ajeer-236	41	9	their	their	PRON
ajeer-236	41	10	industry	industry	NOUN
ajeer-236	41	11	through	through	ADP
ajeer-236	41	12	vertical	vertical	ADJ
ajeer-236	41	13	integrations.1	integrations.1	PROPN
ajeer-236	41	14	two	two	NUM
ajeer-236	41	15	issues	issue	NOUN
ajeer-236	41	16	arisen	arise	VERB
ajeer-236	41	17	from	from	ADP
ajeer-236	41	18	this	this	DET
ajeer-236	41	19	complex	complex	ADJ
ajeer-236	41	20	organizational	organizational	ADJ
ajeer-236	41	21	style	style	NOUN
ajeer-236	41	22	.	.	PUNCT
ajeer-236	42	1	the	the	DET
ajeer-236	42	2	first	first	ADJ
ajeer-236	42	3	treats	treat	NOUN
ajeer-236	42	4	business	business	NOUN
ajeer-236	42	5	groups	group	NOUN
ajeer-236	42	6	as	as	ADP
ajeer-236	42	7	a	a	DET
ajeer-236	42	8	diversified	diversified	ADJ
ajeer-236	42	9	entity	entity	NOUN
ajeer-236	42	10	and	and	CCONJ
ajeer-236	42	11	analyzed	analyze	VERB
ajeer-236	42	12	the	the	DET
ajeer-236	42	13	relationship	relationship	NOUN
ajeer-236	42	14	between	between	ADP
ajeer-236	42	15	this	this	DET
ajeer-236	42	16	feature	feature	NOUN
ajeer-236	42	17	,	,	PUNCT
ajeer-236	42	18	industrial	industrial	ADJ
ajeer-236	42	19	organization	organization	NOUN
ajeer-236	42	20	and	and	CCONJ
ajeer-236	42	21	financing	financing	NOUN
ajeer-236	42	22	problems	problem	NOUN
ajeer-236	42	23	.	.	PUNCT
ajeer-236	43	1	business	business	NOUN
ajeer-236	43	2	groups	group	NOUN
ajeer-236	43	3	can	can	AUX
ajeer-236	43	4	control	control	VERB
ajeer-236	43	5	their	their	PRON
ajeer-236	43	6	related	relate	VERB
ajeer-236	43	7	enterprises	enterprise	NOUN
ajeer-236	43	8	through	through	ADP
ajeer-236	43	9	internal	internal	ADJ
ajeer-236	43	10	trading	trading	NOUN
ajeer-236	43	11	and	and	CCONJ
ajeer-236	43	12	capital	capital	NOUN
ajeer-236	43	13	.	.	PUNCT
ajeer-236	44	1	currently	currently	ADV
ajeer-236	44	2	,	,	PUNCT
ajeer-236	44	3	40	40	NUM
ajeer-236	44	4	%	%	NOUN
ajeer-236	44	5	of	of	ADP
ajeer-236	44	6	the	the	DET
ajeer-236	44	7	top	top	ADJ
ajeer-236	44	8	500	500	NUM
ajeer-236	44	9	companies	company	NOUN
ajeer-236	44	10	around	around	ADP
ajeer-236	44	11	the	the	DET
ajeer-236	44	12	world	world	NOUN
ajeer-236	44	13	are	be	AUX
ajeer-236	44	14	controlled	control	VERB
ajeer-236	44	15	by	by	ADP
ajeer-236	44	16	families	family	NOUN
ajeer-236	44	17	.	.	PUNCT
ajeer-236	45	1	families	family	NOUN
ajeer-236	45	2	tend	tend	VERB
ajeer-236	45	3	to	to	PART
ajeer-236	45	4	use	use	VERB
ajeer-236	45	5	pyramid	pyramid	NOUN
ajeer-236	45	6	holdings	holding	NOUN
ajeer-236	45	7	to	to	PART
ajeer-236	45	8	maintain	maintain	VERB
ajeer-236	45	9	their	their	PRON
ajeer-236	45	10	controls	control	NOUN
ajeer-236	45	11	.	.	PUNCT
ajeer-236	46	1	finkelstein	finkelstein	PROPN
ajeer-236	46	2	(	(	PUNCT
ajeer-236	46	3	1992	1992	NUM
ajeer-236	46	4	)	)	PUNCT
ajeer-236	46	5	finds	find	VERB
ajeer-236	46	6	that	that	SCONJ
ajeer-236	46	7	family	family	NOUN
ajeer-236	46	8	members	member	NOUN
ajeer-236	46	9	have	have	VERB
ajeer-236	46	10	higher	high	ADJ
ajeer-236	46	11	commitments	commitment	NOUN
ajeer-236	46	12	to	to	ADP
ajeer-236	46	13	their	their	PRON
ajeer-236	46	14	businesses	business	NOUN
ajeer-236	46	15	and	and	CCONJ
ajeer-236	46	16	pay	pay	VERB
ajeer-236	46	17	attention	attention	NOUN
ajeer-236	46	18	to	to	ADP
ajeer-236	46	19	the	the	DET
ajeer-236	46	20	businesses‟	businesses‟	PROPN
ajeer-236	46	21	long	long	ADJ
ajeer-236	46	22	-	-	PUNCT
ajeer-236	46	23	term	term	NOUN
ajeer-236	46	24	developments	development	NOUN
ajeer-236	46	25	.	.	PUNCT
ajeer-236	47	1	by	by	ADP
ajeer-236	47	2	extending	extend	VERB
ajeer-236	47	3	their	their	PRON
ajeer-236	47	4	tenure	tenure	NOUN
ajeer-236	47	5	to	to	PART
ajeer-236	47	6	consolidate	consolidate	VERB
ajeer-236	47	7	their	their	PRON
ajeer-236	47	8	power	power	NOUN
ajeer-236	47	9	,	,	PUNCT
ajeer-236	47	10	the	the	DET
ajeer-236	47	11	transaction	transaction	NOUN
ajeer-236	47	12	costs	cost	VERB
ajeer-236	47	13	in	in	ADP
ajeer-236	47	14	business	business	NOUN
ajeer-236	47	15	management	management	NOUN
ajeer-236	47	16	can	can	AUX
ajeer-236	47	17	be	be	AUX
ajeer-236	47	18	lowered	lower	VERB
ajeer-236	47	19	.	.	PUNCT
ajeer-236	48	1	johannisson	johannisson	NOUN
ajeer-236	48	2	and	and	CCONJ
ajeer-236	48	3	huse	huse	NOUN
ajeer-236	48	4	(	(	PUNCT
ajeer-236	48	5	2000	2000	NUM
ajeer-236	48	6	)	)	PUNCT
ajeer-236	48	7	also	also	ADV
ajeer-236	48	8	support	support	VERB
ajeer-236	48	9	the	the	DET
ajeer-236	48	10	view	view	NOUN
ajeer-236	48	11	that	that	SCONJ
ajeer-236	48	12	the	the	DET
ajeer-236	48	13	cohesion	cohesion	NOUN
ajeer-236	48	14	of	of	ADP
ajeer-236	48	15	the	the	DET
ajeer-236	48	16	founder	founder	NOUN
ajeer-236	48	17	to	to	ADP
ajeer-236	48	18	the	the	DET
ajeer-236	48	19	enterprise	enterprise	NOUN
ajeer-236	48	20	can	can	AUX
ajeer-236	48	21	help	help	VERB
ajeer-236	48	22	increase	increase	VERB
ajeer-236	48	23	the	the	DET
ajeer-236	48	24	operating	operating	NOUN
ajeer-236	48	25	efficiency	efficiency	NOUN
ajeer-236	48	26	of	of	ADP
ajeer-236	48	27	the	the	DET
ajeer-236	48	28	family	family	NOUN
ajeer-236	48	29	business	business	NOUN
ajeer-236	48	30	group	group	NOUN
ajeer-236	48	31	.	.	PUNCT
ajeer-236	49	1	the	the	DET
ajeer-236	49	2	second	second	ADJ
ajeer-236	49	3	issue	issue	NOUN
ajeer-236	49	4	is	be	AUX
ajeer-236	49	5	raised	raise	VERB
ajeer-236	49	6	by	by	ADP
ajeer-236	49	7	the	the	DET
ajeer-236	49	8	corporate	corporate	ADJ
ajeer-236	49	9	governance	governance	NOUN
ajeer-236	49	10	survey	survey	NOUN
ajeer-236	49	11	of	of	ADP
ajeer-236	49	12	shleifer	shleifer	NOUN
ajeer-236	49	13	and	and	CCONJ
ajeer-236	49	14	vishny	vishny	PROPN
ajeer-236	49	15	(	(	PUNCT
ajeer-236	49	16	1997	1997	NUM
ajeer-236	49	17	)	)	PUNCT
ajeer-236	49	18	and	and	CCONJ
ajeer-236	49	19	the	the	DET
ajeer-236	49	20	following	follow	VERB
ajeer-236	49	21	work	work	NOUN
ajeer-236	49	22	by	by	ADP
ajeer-236	49	23	la	la	PROPN
ajeer-236	49	24	porta	porta	PROPN
ajeer-236	49	25	et	et	PROPN
ajeer-236	49	26	al	al	PROPN
ajeer-236	49	27	.	.	PROPN
ajeer-236	50	1	(	(	PUNCT
ajeer-236	50	2	1997;1998	1997;1998	NUM
ajeer-236	50	3	)	)	PUNCT
ajeer-236	50	4	.	.	PUNCT
ajeer-236	51	1	la	la	PROPN
ajeer-236	51	2	porta	porta	PROPN
ajeer-236	51	3	et	et	PROPN
ajeer-236	51	4	al	al	PROPN
ajeer-236	51	5	.	.	PROPN
ajeer-236	51	6	(	(	PUNCT
ajeer-236	51	7	1999	1999	NUM
ajeer-236	51	8	)	)	PUNCT
ajeer-236	51	9	examine	examine	VERB
ajeer-236	51	10	the	the	DET
ajeer-236	51	11	top	top	ADJ
ajeer-236	51	12	20	20	NUM
ajeer-236	51	13	companies	company	NOUN
ajeer-236	51	14	around	around	ADP
ajeer-236	51	15	27	27	NUM
ajeer-236	51	16	countries	country	NOUN
ajeer-236	51	17	and	and	CCONJ
ajeer-236	51	18	find	find	VERB
ajeer-236	51	19	that	that	SCONJ
ajeer-236	51	20	the	the	DET
ajeer-236	51	21	ultimate	ultimate	ADJ
ajeer-236	51	22	holders	holder	NOUN
ajeer-236	51	23	of	of	ADP
ajeer-236	51	24	business	business	NOUN
ajeer-236	51	25	groups	group	NOUN
ajeer-236	51	26	will	will	AUX
ajeer-236	51	27	expropriate	expropriate	VERB
ajeer-236	51	28	small	small	ADJ
ajeer-236	51	29	shareholders	shareholder	NOUN
ajeer-236	51	30	and	and	CCONJ
ajeer-236	51	31	hollowed	hollow	VERB
ajeer-236	51	32	out	out	ADP
ajeer-236	51	33	the	the	DET
ajeer-236	51	34	companies	company	NOUN
ajeer-236	51	35	through	through	ADP
ajeer-236	51	36	pyramid	pyramid	NOUN
ajeer-236	51	37	holdings	holding	NOUN
ajeer-236	51	38	.	.	PUNCT
ajeer-236	52	1	jain	jain	PROPN
ajeer-236	52	2	and	and	CCONJ
ajeer-236	52	3	kini	kini	PROPN
ajeer-236	52	4	(	(	PUNCT
ajeer-236	52	5	2000	2000	NUM
ajeer-236	52	6	)	)	PUNCT
ajeer-236	52	7	argue	argue	VERB
ajeer-236	52	8	that	that	SCONJ
ajeer-236	52	9	if	if	SCONJ
ajeer-236	52	10	there	there	PRON
ajeer-236	52	11	are	be	VERB
ajeer-236	52	12	too	too	ADV
ajeer-236	52	13	many	many	ADJ
ajeer-236	52	14	family	family	NOUN
ajeer-236	52	15	members	member	NOUN
ajeer-236	52	16	on	on	ADP
ajeer-236	52	17	the	the	DET
ajeer-236	52	18	board	board	NOUN
ajeer-236	52	19	of	of	ADP
ajeer-236	52	20	directors	director	NOUN
ajeer-236	52	21	,	,	PUNCT
ajeer-236	52	22	this	this	PRON
ajeer-236	52	23	is	be	AUX
ajeer-236	52	24	likely	likely	ADJ
ajeer-236	52	25	to	to	PART
ajeer-236	52	26	limit	limit	VERB
ajeer-236	52	27	the	the	DET
ajeer-236	52	28	resource	resource	NOUN
ajeer-236	52	29	network	network	NOUN
ajeer-236	52	30	of	of	ADP
ajeer-236	52	31	the	the	DET
ajeer-236	52	32	companies	company	NOUN
ajeer-236	52	33	.	.	PUNCT
ajeer-236	53	1	baek	baek	NOUN
ajeer-236	53	2	and	and	CCONJ
ajeer-236	53	3	kang	kang	PROPN
ajeer-236	53	4	(	(	PUNCT
ajeer-236	53	5	2004	2004	NUM
ajeer-236	53	6	)	)	PUNCT
ajeer-236	53	7	also	also	ADV
ajeer-236	53	8	find	find	VERB
ajeer-236	53	9	that	that	SCONJ
ajeer-236	53	10	controlling	control	VERB
ajeer-236	53	11	shareholders	shareholder	NOUN
ajeer-236	53	12	of	of	ADP
ajeer-236	53	13	business	business	NOUN
ajeer-236	53	14	groups	group	NOUN
ajeer-236	53	15	often	often	ADV
ajeer-236	53	16	use	use	VERB
ajeer-236	53	17	internal	internal	ADJ
ajeer-236	53	18	trading	trading	NOUN
ajeer-236	53	19	and	and	CCONJ
ajeer-236	53	20	asset	asset	NOUN
ajeer-236	53	21	restructuring	restructuring	NOUN
ajeer-236	53	22	to	to	PART
ajeer-236	53	23	transfer	transfer	VERB
ajeer-236	53	24	the	the	DET
ajeer-236	53	25	companies‟	companies‟	X
ajeer-236	53	26	resources	resource	NOUN
ajeer-236	53	27	to	to	PART
ajeer-236	53	28	become	become	VERB
ajeer-236	53	29	their	their	PRON
ajeer-236	53	30	property	property	NOUN
ajeer-236	53	31	.	.	PUNCT
ajeer-236	54	1	therefore	therefore	ADV
ajeer-236	54	2	,	,	PUNCT
ajeer-236	54	3	understanding	understand	VERB
ajeer-236	54	4	this	this	DET
ajeer-236	54	5	complex	complex	ADJ
ajeer-236	54	6	operating	operating	NOUN
ajeer-236	54	7	model	model	NOUN
ajeer-236	54	8	is	be	AUX
ajeer-236	54	9	a	a	DET
ajeer-236	54	10	great	great	ADJ
ajeer-236	54	11	challenge	challenge	NOUN
ajeer-236	54	12	to	to	ADP
ajeer-236	54	13	investors	investor	NOUN
ajeer-236	54	14	.	.	PUNCT
ajeer-236	55	1	the	the	DET
ajeer-236	55	2	aim	aim	NOUN
ajeer-236	55	3	of	of	ADP
ajeer-236	55	4	this	this	DET
ajeer-236	55	5	research	research	NOUN
ajeer-236	55	6	is	be	AUX
ajeer-236	55	7	to	to	PART
ajeer-236	55	8	directly	directly	ADV
ajeer-236	55	9	examine	examine	VERB
ajeer-236	55	10	the	the	DET
ajeer-236	55	11	stock	stock	NOUN
ajeer-236	55	12	performance	performance	NOUN
ajeer-236	55	13	of	of	ADP
ajeer-236	55	14	business	business	NOUN
ajeer-236	55	15	groups	group	NOUN
ajeer-236	55	16	in	in	ADP
ajeer-236	55	17	order	order	NOUN
ajeer-236	55	18	to	to	PART
ajeer-236	55	19	search	search	VERB
ajeer-236	55	20	for	for	ADP
ajeer-236	55	21	better	well	ADJ
ajeer-236	55	22	investment	investment	NOUN
ajeer-236	55	23	opportunities	opportunity	NOUN
ajeer-236	55	24	.	.	PUNCT
ajeer-236	56	1	the	the	DET
ajeer-236	56	2	prime	prime	ADJ
ajeer-236	56	3	job	job	NOUN
ajeer-236	56	4	is	be	AUX
ajeer-236	56	5	then	then	ADV
ajeer-236	56	6	to	to	PART
ajeer-236	56	7	understand	understand	VERB
ajeer-236	56	8	the	the	DET
ajeer-236	56	9	relationship	relationship	NOUN
ajeer-236	56	10	between	between	ADP
ajeer-236	56	11	the	the	DET
ajeer-236	56	12	operating	operating	NOUN
ajeer-236	56	13	strategy	strategy	NOUN
ajeer-236	56	14	of	of	ADP
ajeer-236	56	15	business	business	NOUN
ajeer-236	56	16	groups	group	NOUN
ajeer-236	56	17	and	and	CCONJ
ajeer-236	56	18	their	their	PRON
ajeer-236	56	19	stock	stock	NOUN
ajeer-236	56	20	performance	performance	NOUN
ajeer-236	56	21	.	.	PUNCT
ajeer-236	57	1	the	the	DET
ajeer-236	57	2	formosa	formosa	PROPN
ajeer-236	57	3	plastics	plastic	NOUN
ajeer-236	57	4	group	group	NOUN
ajeer-236	57	5	was	be	AUX
ajeer-236	57	6	first	first	ADV
ajeer-236	57	7	established	establish	VERB
ajeer-236	57	8	in	in	ADP
ajeer-236	57	9	1954	1954	NUM
ajeer-236	57	10	as	as	ADP
ajeer-236	57	11	a	a	DET
ajeer-236	57	12	plastics	plastic	NOUN
ajeer-236	57	13	company	company	NOUN
ajeer-236	57	14	.	.	PUNCT
ajeer-236	58	1	after	after	ADP
ajeer-236	58	2	more	more	ADJ
ajeer-236	58	3	than	than	ADP
ajeer-236	58	4	50	50	NUM
ajeer-236	58	5	years	year	NOUN
ajeer-236	58	6	of	of	ADP
ajeer-236	58	7	hard	hard	ADJ
ajeer-236	58	8	work	work	NOUN
ajeer-236	58	9	,	,	PUNCT
ajeer-236	58	10	the	the	DET
ajeer-236	58	11	formosa	formosa	PROPN
ajeer-236	58	12	plastics	plastic	NOUN
ajeer-236	58	13	group	group	NOUN
ajeer-236	58	14	now	now	ADV
ajeer-236	58	15	have	have	VERB
ajeer-236	58	16	more	more	ADJ
ajeer-236	58	17	than	than	ADP
ajeer-236	58	18	hundreds	hundred	NOUN
ajeer-236	58	19	of	of	ADP
ajeer-236	58	20	related	relate	VERB
ajeer-236	58	21	enterprises	enterprise	NOUN
ajeer-236	58	22	including	include	VERB
ajeer-236	58	23	formosa	formosa	PROPN
ajeer-236	58	24	plastics	plastic	NOUN
ajeer-236	58	25	,	,	PUNCT
ajeer-236	58	26	nan	nan	PROPN
ajeer-236	58	27	ya	ya	PROPN
ajeer-236	58	28	,	,	PUNCT
ajeer-236	58	29	formosa	formosa	PROPN
ajeer-236	58	30	chemicals	chemicals	PROPN
ajeer-236	58	31	&	&	CCONJ
ajeer-236	58	32	fibre	fibre	PROPN
ajeer-236	58	33	,	,	PUNCT
ajeer-236	58	34	formosa	formosa	PROPN
ajeer-236	58	35	petrochemicals	petrochemical	NOUN
ajeer-236	58	36	,	,	PUNCT
ajeer-236	58	37	formosa	formosa	NOUN
ajeer-236	58	38	ha	ha	INTJ
ajeer-236	58	39	tinh	tinh	PROPN
ajeer-236	58	40	steel	steel	NOUN
ajeer-236	58	41	and	and	CCONJ
ajeer-236	58	42	etc	etc	X
ajeer-236	58	43	.	.	X
ajeer-236	59	1	these	these	DET
ajeer-236	59	2	companies	company	NOUN
ajeer-236	59	3	are	be	AUX
ajeer-236	59	4	spread	spread	VERB
ajeer-236	59	5	out	out	ADP
ajeer-236	59	6	in	in	ADP
ajeer-236	59	7	taiwan	taiwan	PROPN
ajeer-236	59	8	,	,	PUNCT
ajeer-236	59	9	usa	usa	PROPN
ajeer-236	59	10	,	,	PUNCT
ajeer-236	59	11	china	china	PROPN
ajeer-236	59	12	,	,	PUNCT
ajeer-236	59	13	vietnam	vietnam	PROPN
ajeer-236	59	14	,	,	PUNCT
ajeer-236	59	15	philippine	philippine	NOUN
ajeer-236	59	16	,	,	PUNCT
ajeer-236	59	17	and	and	CCONJ
ajeer-236	59	18	indonesia	indonesia	PROPN
ajeer-236	59	19	.	.	PUNCT
ajeer-236	60	1	the	the	DET
ajeer-236	60	2	group	group	NOUN
ajeer-236	60	3	is	be	AUX
ajeer-236	60	4	also	also	ADV
ajeer-236	60	5	committed	commit	VERB
ajeer-236	60	6	to	to	ADP
ajeer-236	60	7	education	education	NOUN
ajeer-236	60	8	and	and	CCONJ
ajeer-236	60	9	medical	medical	ADJ
ajeer-236	60	10	care	care	NOUN
ajeer-236	60	11	by	by	ADP
ajeer-236	60	12	establishing	establish	VERB
ajeer-236	60	13	a	a	DET
ajeer-236	60	14	hospital	hospital	NOUN
ajeer-236	60	15	and	and	CCONJ
ajeer-236	60	16	universities	university	NOUN
ajeer-236	60	17	.	.	PUNCT
ajeer-236	61	1	the	the	DET
ajeer-236	61	2	formosa	formosa	PROPN
ajeer-236	61	3	plastics	plastic	NOUN
ajeer-236	61	4	group	group	NOUN
ajeer-236	61	5	is	be	AUX
ajeer-236	61	6	the	the	DET
ajeer-236	61	7	largest	large	ADJ
ajeer-236	61	8	private	private	ADJ
ajeer-236	61	9	company	company	NOUN
ajeer-236	61	10	in	in	ADP
ajeer-236	61	11	taiwan	taiwan	PROPN
ajeer-236	61	12	.	.	PUNCT
ajeer-236	62	1	to	to	PART
ajeer-236	62	2	follow	follow	VERB
ajeer-236	62	3	the	the	DET
ajeer-236	62	4	spirit	spirit	NOUN
ajeer-236	62	5	of	of	ADP
ajeer-236	62	6	a	a	DET
ajeer-236	62	7	separation	separation	NOUN
ajeer-236	62	8	of	of	ADP
ajeer-236	62	9	ownership	ownership	NOUN
ajeer-236	62	10	and	and	CCONJ
ajeer-236	62	11	control	control	NOUN
ajeer-236	62	12	,	,	PUNCT
ajeer-236	62	13	the	the	DET
ajeer-236	62	14	founders	founder	NOUN
ajeer-236	62	15	of	of	ADP
ajeer-236	62	16	formosa	formosa	PROPN
ajeer-236	62	17	plastics	plastic	NOUN
ajeer-236	62	18	group	group	NOUN
ajeer-236	62	19	established	establish	VERB
ajeer-236	62	20	an	an	DET
ajeer-236	62	21	administration	administration	NOUN
ajeer-236	62	22	centre	centre	NOUN
ajeer-236	62	23	which	which	PRON
ajeer-236	62	24	is	be	AUX
ajeer-236	62	25	for	for	ADP
ajeer-236	62	26	the	the	DET
ajeer-236	62	27	group‟s	group‟s	ADJ
ajeer-236	62	28	family	family	NOUN
ajeer-236	62	29	members	member	NOUN
ajeer-236	62	30	and	and	CCONJ
ajeer-236	62	31	an	an	DET
ajeer-236	62	32	executive	executive	ADJ
ajeer-236	62	33	centre	centre	NOUN
ajeer-236	62	34	which	which	PRON
ajeer-236	62	35	is	be	AUX
ajeer-236	62	36	led	lead	VERB
ajeer-236	62	37	by	by	ADP
ajeer-236	62	38	a	a	DET
ajeer-236	62	39	professional	professional	ADJ
ajeer-236	62	40	manager	manager	NOUN
ajeer-236	62	41	.	.	PUNCT
ajeer-236	63	1	this	this	DET
ajeer-236	63	2	structure	structure	NOUN
ajeer-236	63	3	was	be	AUX
ajeer-236	63	4	executed	execute	VERB
ajeer-236	63	5	in	in	ADP
ajeer-236	63	6	june	june	PROPN
ajeer-236	63	7	2017.2	2017.2	NUM
ajeer-236	63	8	the	the	DET
ajeer-236	63	9	second	second	ADJ
ajeer-236	63	10	business	business	NOUN
ajeer-236	63	11	group	group	NOUN
ajeer-236	63	12	examined	examine	VERB
ajeer-236	63	13	in	in	ADP
ajeer-236	63	14	this	this	DET
ajeer-236	63	15	study	study	NOUN
ajeer-236	63	16	is	be	AUX
ajeer-236	63	17	the	the	DET
ajeer-236	63	18	far	far	ADV
ajeer-236	63	19	eastern	eastern	ADJ
ajeer-236	63	20	group	group	NOUN
ajeer-236	63	21	,	,	PUNCT
ajeer-236	63	22	which	which	PRON
ajeer-236	63	23	was	be	AUX
ajeer-236	63	24	first	first	ADV
ajeer-236	63	25	established	establish	VERB
ajeer-236	63	26	in	in	ADP
ajeer-236	63	27	1937	1937	NUM
ajeer-236	63	28	in	in	ADP
ajeer-236	63	29	china	china	PROPN
ajeer-236	63	30	.	.	PUNCT
ajeer-236	64	1	the	the	DET
ajeer-236	64	2	company	company	NOUN
ajeer-236	64	3	started	start	VERB
ajeer-236	64	4	its	its	PRON
ajeer-236	64	5	textile	textile	NOUN
ajeer-236	64	6	business	business	NOUN
ajeer-236	64	7	in	in	ADP
ajeer-236	64	8	1953	1953	NUM
ajeer-236	64	9	in	in	ADP
ajeer-236	64	10	taiwan	taiwan	PROPN
ajeer-236	64	11	.	.	PUNCT
ajeer-236	65	1	it	it	PRON
ajeer-236	65	2	then	then	ADV
ajeer-236	65	3	diversified	diversify	VERB
ajeer-236	65	4	to	to	ADP
ajeer-236	65	5	other	other	ADJ
ajeer-236	65	6	businesses	business	NOUN
ajeer-236	65	7	such	such	ADJ
ajeer-236	65	8	as	as	ADP
ajeer-236	65	9	petrochemical	petrochemical	NOUN
ajeer-236	65	10	energy	energy	NOUN
ajeer-236	65	11	,	,	PUNCT
ajeer-236	65	12	cement	cement	NOUN
ajeer-236	65	13	building	building	NOUN
ajeer-236	65	14	materials	material	NOUN
ajeer-236	65	15	,	,	PUNCT
ajeer-236	65	16	department	department	NOUN
ajeer-236	65	17	store	store	NOUN
ajeer-236	65	18	retailing	retailing	NOUN
ajeer-236	65	19	,	,	PUNCT
ajeer-236	65	20	financial	financial	ADJ
ajeer-236	65	21	services	service	NOUN
ajeer-236	65	22	,	,	PUNCT
ajeer-236	65	23	land	land	NOUN
ajeer-236	65	24	&	&	CCONJ
ajeer-236	65	25	sea	sea	PROPN
ajeer-236	65	26	transportation	transportation	NOUN
ajeer-236	65	27	,	,	PUNCT
ajeer-236	65	28	communication	communication	NOUN
ajeer-236	65	29	networks	network	NOUN
ajeer-236	65	30	,	,	PUNCT
ajeer-236	65	31	and	and	CCONJ
ajeer-236	65	32	tourism	tourism	NOUN
ajeer-236	65	33	hotels	hotel	NOUN
ajeer-236	65	34	.	.	PUNCT
ajeer-236	66	1	the	the	DET
ajeer-236	66	2	business	business	NOUN
ajeer-236	66	3	group	group	NOUN
ajeer-236	66	4	has	have	VERB
ajeer-236	66	5	more	more	ADJ
ajeer-236	66	6	than	than	ADP
ajeer-236	66	7	200	200	NUM
ajeer-236	66	8	related	related	ADJ
ajeer-236	66	9	companies	company	NOUN
ajeer-236	66	10	.	.	PUNCT
ajeer-236	67	1	of	of	ADP
ajeer-236	67	2	which	which	PRON
ajeer-236	67	3	,	,	PUNCT
ajeer-236	67	4	eight	eight	NUM
ajeer-236	67	5	companies	company	NOUN
ajeer-236	67	6	are	be	AUX
ajeer-236	67	7	listed	list	VERB
ajeer-236	67	8	in	in	ADP
ajeer-236	67	9	taiwan	taiwan	PROPN
ajeer-236	67	10	,	,	PUNCT
ajeer-236	67	11	and	and	CCONJ
ajeer-236	67	12	one	one	NUM
ajeer-236	67	13	company	company	NOUN
ajeer-236	67	14	,	,	PUNCT
ajeer-236	67	15	asia	asia	PROPN
ajeer-236	67	16	cement	cement	NOUN
ajeer-236	67	17	,	,	PUNCT
ajeer-236	67	18	is	be	AUX
ajeer-236	67	19	listed	list	VERB
ajeer-236	67	20	in	in	ADP
ajeer-236	67	21	hong	hong	PROPN
ajeer-236	67	22	kong	kong	PROPN
ajeer-236	67	23	.	.	PUNCT
ajeer-236	68	1	far	far	ADV
ajeer-236	68	2	eastern	eastern	ADJ
ajeer-236	68	3	group	group	NOUN
ajeer-236	68	4	is	be	AUX
ajeer-236	68	5	the	the	DET
ajeer-236	68	6	third	third	ADV
ajeer-236	68	7	largest	large	ADJ
ajeer-236	68	8	business	business	NOUN
ajeer-236	68	9	group	group	NOUN
ajeer-236	68	10	in	in	ADP
ajeer-236	68	11	taiwan	taiwan	PROPN
ajeer-236	68	12	and	and	CCONJ
ajeer-236	68	13	is	be	AUX
ajeer-236	68	14	a	a	DET
ajeer-236	68	15	model	model	NOUN
ajeer-236	68	16	of	of	ADP
ajeer-236	68	17	diversified	diversified	ADJ
ajeer-236	68	18	companies	company	NOUN
ajeer-236	68	19	in	in	ADP
ajeer-236	68	20	taiwan.3	taiwan.3	PROPN
ajeer-236	68	21	in	in	ADP
ajeer-236	68	22	2014	2014	NUM
ajeer-236	68	23	,	,	PUNCT
ajeer-236	68	24	the	the	DET
ajeer-236	68	25	total	total	ADJ
ajeer-236	68	26	market	market	NOUN
ajeer-236	68	27	values	value	NOUN
ajeer-236	68	28	of	of	ADP
ajeer-236	68	29	formosa	formosa	PROPN
ajeer-236	68	30	plastics	plastic	NOUN
ajeer-236	68	31	group	group	NOUN
ajeer-236	68	32	and	and	CCONJ
ajeer-236	68	33	far	far	ADV
ajeer-236	68	34	eastern	eastern	ADJ
ajeer-236	68	35	group	group	NOUN
ajeer-236	68	36	were	be	AUX
ajeer-236	68	37	$	$	SYM
ajeer-236	68	38	2680.8	2680.8	NUM
ajeer-236	68	39	billion	billion	NUM
ajeer-236	68	40	and	and	CCONJ
ajeer-236	68	41	$	$	SYM
ajeer-236	68	42	679	679	NUM
ajeer-236	68	43	billion	billion	NUM
ajeer-236	68	44	,	,	PUNCT
ajeer-236	68	45	respectively	respectively	ADV
ajeer-236	68	46	.	.	PUNCT
ajeer-236	69	1	however	however	ADV
ajeer-236	69	2	,	,	PUNCT
ajeer-236	69	3	in	in	ADP
ajeer-236	69	4	july	july	PROPN
ajeer-236	69	5	2017	2017	NUM
ajeer-236	69	6	,	,	PUNCT
ajeer-236	69	7	the	the	DET
ajeer-236	69	8	market	market	NOUN
ajeer-236	69	9	value	value	NOUN
ajeer-236	69	10	of	of	ADP
ajeer-236	69	11	formosa	formosa	PROPN
ajeer-236	69	12	plastics	plastic	NOUN
ajeer-236	69	13	group	group	NOUN
ajeer-236	69	14	increased	increase	VERB
ajeer-236	69	15	to	to	ADP
ajeer-236	69	16	$	$	SYM
ajeer-236	69	17	3032.6	3032.6	NUM
ajeer-236	69	18	billion	billion	NUM
ajeer-236	69	19	while	while	SCONJ
ajeer-236	69	20	the	the	DET
ajeer-236	69	21	market	market	NOUN
ajeer-236	69	22	value	value	NOUN
ajeer-236	69	23	of	of	ADP
ajeer-236	69	24	far	far	ADJ
ajeer-236	69	25	eastern	eastern	ADJ
ajeer-236	69	26	group	group	NOUN
ajeer-236	69	27	decreased	decrease	VERB
ajeer-236	69	28	to	to	ADP
ajeer-236	69	29	$	$	SYM
ajeer-236	69	30	572.3	572.3	NUM
ajeer-236	69	31	billion	billion	NUM
ajeer-236	69	32	.	.	PUNCT
ajeer-236	70	1	one	one	NUM
ajeer-236	70	2	common	common	ADJ
ajeer-236	70	3	feature	feature	NOUN
ajeer-236	70	4	of	of	ADP
ajeer-236	70	5	the	the	DET
ajeer-236	70	6	business	business	NOUN
ajeer-236	70	7	group	group	NOUN
ajeer-236	70	8	is	be	AUX
ajeer-236	70	9	the	the	DET
ajeer-236	70	10	cross	cross	NOUN
ajeer-236	70	11	holdings	holding	NOUN
ajeer-236	70	12	between	between	ADP
ajeer-236	70	13	related	relate	VERB
ajeer-236	70	14	businesses	business	NOUN
ajeer-236	70	15	.	.	PUNCT
ajeer-236	71	1	therefore	therefore	ADV
ajeer-236	71	2	,	,	PUNCT
ajeer-236	71	3	if	if	SCONJ
ajeer-236	71	4	the	the	DET
ajeer-236	71	5	performance	performance	NOUN
ajeer-236	71	6	of	of	ADP
ajeer-236	71	7	related	related	ADJ
ajeer-236	71	8	companies	company	NOUN
ajeer-236	71	9	changes	change	VERB
ajeer-236	71	10	,	,	PUNCT
ajeer-236	71	11	the	the	DET
ajeer-236	71	12	investment	investment	NOUN
ajeer-236	71	13	profits	profit	NOUN
ajeer-236	71	14	of	of	ADP
ajeer-236	71	15	the	the	DET
ajeer-236	71	16	whole	whole	ADJ
ajeer-236	71	17	business	business	NOUN
ajeer-236	71	18	group	group	NOUN
ajeer-236	71	19	will	will	AUX
ajeer-236	71	20	be	be	AUX
ajeer-236	71	21	affected	affect	VERB
ajeer-236	71	22	.	.	PUNCT
ajeer-236	72	1	when	when	SCONJ
ajeer-236	72	2	the	the	DET
ajeer-236	72	3	benefit	benefit	NOUN
ajeer-236	72	4	of	of	ADP
ajeer-236	72	5	vertical	vertical	ADJ
ajeer-236	72	6	integration	integration	NOUN
ajeer-236	72	7	gradually	gradually	ADV
ajeer-236	72	8	reveals	reveal	VERB
ajeer-236	72	9	,	,	PUNCT
ajeer-236	72	10	the	the	DET
ajeer-236	72	11	after	after	SCONJ
ajeer-236	72	12	tax	tax	NOUN
ajeer-236	72	13	net	net	ADJ
ajeer-236	72	14	profits	profit	NOUN
ajeer-236	72	15	of	of	ADP
ajeer-236	72	16	formosa	formosa	PROPN
ajeer-236	72	17	plastics	plastic	NOUN
ajeer-236	72	18	group	group	NOUN
ajeer-236	72	19	increased	increase	VERB
ajeer-236	72	20	by	by	ADP
ajeer-236	72	21	43.11	43.11	NUM
ajeer-236	72	22	%	%	NOUN
ajeer-236	72	23	in	in	ADP
ajeer-236	72	24	2016	2016	NUM
ajeer-236	72	25	.	.	PUNCT
ajeer-236	73	1	in	in	ADP
ajeer-236	73	2	contrast	contrast	NOUN
ajeer-236	73	3	,	,	PUNCT
ajeer-236	73	4	as	as	SCONJ
ajeer-236	73	5	the	the	DET
ajeer-236	73	6	economy	economy	NOUN
ajeer-236	73	7	becomes	become	VERB
ajeer-236	73	8	more	more	ADV
ajeer-236	73	9	volatile	volatile	ADJ
ajeer-236	73	10	,	,	PUNCT
ajeer-236	73	11	diversified	diversify	VERB
ajeer-236	73	12	operations	operation	NOUN
ajeer-236	73	13	will	will	AUX
ajeer-236	73	14	encounter	encounter	VERB
ajeer-236	73	15	greater	great	ADJ
ajeer-236	73	16	challenges	challenge	NOUN
ajeer-236	73	17	.	.	PUNCT
ajeer-236	74	1	hence	hence	ADV
ajeer-236	74	2	,	,	PUNCT
ajeer-236	74	3	the	the	DET
ajeer-236	74	4	after	after	ADP
ajeer-236	74	5	tax	tax	NOUN
ajeer-236	74	6	net	net	ADJ
ajeer-236	74	7	profits	profit	NOUN
ajeer-236	74	8	of	of	ADP
ajeer-236	74	9	far	far	ADJ
ajeer-236	74	10	eastern	eastern	ADJ
ajeer-236	74	11	group	group	NOUN
ajeer-236	74	12	reduced	reduce	VERB
ajeer-236	74	13	by	by	ADP
ajeer-236	74	14	19.44	19.44	NUM
ajeer-236	74	15	%	%	NOUN
ajeer-236	74	16	in	in	ADP
ajeer-236	74	17	2016.4	2016.4	NUM
ajeer-236	74	18	therefore	therefore	ADV
ajeer-236	74	19	,	,	PUNCT
ajeer-236	74	20	this	this	DET
ajeer-236	74	21	study	study	NOUN
ajeer-236	74	22	proposes	propose	VERB
ajeer-236	74	23	a	a	DET
ajeer-236	74	24	program	program	NOUN
ajeer-236	74	25	trading	trading	NOUN
ajeer-236	74	26	investment	investment	NOUN
ajeer-236	74	27	strategy	strategy	NOUN
ajeer-236	74	28	based	base	VERB
ajeer-236	74	29	on	on	ADP
ajeer-236	74	30	behavioral	behavioral	ADJ
ajeer-236	74	31	finance	finance	NOUN
ajeer-236	74	32	theory	theory	NOUN
ajeer-236	74	33	to	to	PART
ajeer-236	74	34	help	help	VERB
ajeer-236	74	35	individual	individual	ADJ
ajeer-236	74	36	investors	investor	NOUN
ajeer-236	74	37	trade	trade	VERB
ajeer-236	74	38	the	the	DET
ajeer-236	74	39	stocks	stock	NOUN
ajeer-236	74	40	of	of	ADP
ajeer-236	74	41	family	family	NOUN
ajeer-236	74	42	businesses	business	NOUN
ajeer-236	74	43	.	.	PUNCT
ajeer-236	75	1	the	the	DET
ajeer-236	75	2	organization	organization	NOUN
ajeer-236	75	3	of	of	ADP
ajeer-236	75	4	the	the	DET
ajeer-236	75	5	paper	paper	NOUN
ajeer-236	75	6	is	be	AUX
ajeer-236	75	7	as	as	SCONJ
ajeer-236	75	8	follows	follow	VERB
ajeer-236	75	9	.	.	PUNCT
ajeer-236	76	1	section	section	NOUN
ajeer-236	76	2	2	2	NUM
ajeer-236	76	3	is	be	AUX
ajeer-236	76	4	the	the	DET
ajeer-236	76	5	literature	literature	PROPN
ajeer-236	76	6	review	review	PROPN
ajeer-236	76	7	.	.	PUNCT
ajeer-236	77	1	section	section	NOUN
ajeer-236	77	2	3	3	NUM
ajeer-236	77	3	discusses	discuss	VERB
ajeer-236	77	4	the	the	DET
ajeer-236	77	5	granger	granger	PROPN
ajeer-236	77	6	causality	causality	PROPN
ajeer-236	77	7	,	,	PUNCT
ajeer-236	77	8	egarch	egarch	NOUN
ajeer-236	77	9	model	model	NOUN
ajeer-236	77	10	and	and	CCONJ
ajeer-236	77	11	the	the	DET
ajeer-236	77	12	estimation	estimation	NOUN
ajeer-236	77	13	method	method	NOUN
ajeer-236	77	14	for	for	ADP
ajeer-236	77	15	program	program	NOUN
ajeer-236	77	16	trading	trading	NOUN
ajeer-236	77	17	.	.	PUNCT
ajeer-236	78	1	section	section	NOUN
ajeer-236	78	2	4	4	NUM
ajeer-236	78	3	describes	describe	VERB
ajeer-236	78	4	that	that	SCONJ
ajeer-236	78	5	data	datum	NOUN
ajeer-236	78	6	source	source	NOUN
ajeer-236	78	7	.	.	PUNCT
ajeer-236	79	1	section	section	NOUN
ajeer-236	79	2	5	5	NUM
ajeer-236	79	3	and	and	CCONJ
ajeer-236	79	4	6	6	NUM
ajeer-236	79	5	presents	present	NOUN
ajeer-236	79	6	that	that	PRON
ajeer-236	79	7	empirical	empirical	ADJ
ajeer-236	79	8	results	result	NOUN
ajeer-236	79	9	and	and	CCONJ
ajeer-236	79	10	analyses	analysis	NOUN
ajeer-236	79	11	for	for	ADP
ajeer-236	79	12	the	the	DET
ajeer-236	79	13	formosa	formosa	PROPN
ajeer-236	79	14	plastics	plastic	NOUN
ajeer-236	79	15	group	group	NOUN
ajeer-236	79	16	and	and	CCONJ
ajeer-236	79	17	the	the	DET
ajeer-236	79	18	far	far	ADV
ajeer-236	79	19	eastern	eastern	ADJ
ajeer-236	79	20	group	group	NOUN
ajeer-236	79	21	,	,	PUNCT
ajeer-236	79	22	respectively	respectively	ADV
ajeer-236	79	23	.	.	PUNCT
ajeer-236	80	1	finally	finally	ADV
ajeer-236	80	2	,	,	PUNCT
ajeer-236	80	3	the	the	DET
ajeer-236	80	4	conclusion	conclusion	NOUN
ajeer-236	80	5	is	be	AUX
ajeer-236	80	6	presented	present	VERB
ajeer-236	80	7	in	in	ADP
ajeer-236	80	8	the	the	DET
ajeer-236	80	9	last	last	ADJ
ajeer-236	80	10	section	section	NOUN
ajeer-236	80	11	.	.	PUNCT
ajeer-236	81	1	2	2	X
ajeer-236	81	2	.	.	X
ajeer-236	81	3	literature	literature	NOUN
ajeer-236	81	4	review	review	NOUN
ajeer-236	81	5	both	both	PRON
ajeer-236	81	6	researches	research	VERB
ajeer-236	81	7	by	by	ADP
ajeer-236	81	8	bachelier	bachelier	NOUN
ajeer-236	81	9	(	(	PUNCT
ajeer-236	81	10	1900	1900	NUM
ajeer-236	81	11	)	)	PUNCT
ajeer-236	81	12	and	and	CCONJ
ajeer-236	81	13	samulson	samulson	NOUN
ajeer-236	81	14	(	(	PUNCT
ajeer-236	81	15	1965	1965	NUM
ajeer-236	81	16	)	)	PUNCT
ajeer-236	81	17	argue	argue	VERB
ajeer-236	81	18	that	that	SCONJ
ajeer-236	81	19	the	the	DET
ajeer-236	81	20	stock	stock	NOUN
ajeer-236	81	21	prices	price	NOUN
ajeer-236	81	22	are	be	AUX
ajeer-236	81	23	unpredictable	unpredictable	ADJ
ajeer-236	81	24	.	.	PUNCT
ajeer-236	82	1	fama	fama	PROPN
ajeer-236	82	2	(	(	PUNCT
ajeer-236	82	3	1965	1965	NUM
ajeer-236	82	4	)	)	PUNCT
ajeer-236	82	5	also	also	ADV
ajeer-236	82	6	suggests	suggest	VERB
ajeer-236	82	7	that	that	SCONJ
ajeer-236	82	8	the	the	DET
ajeer-236	82	9	trend	trend	NOUN
ajeer-236	82	10	in	in	ADP
ajeer-236	82	11	stock	stock	NOUN
ajeer-236	82	12	price	price	NOUN
ajeer-236	82	13	is	be	AUX
ajeer-236	82	14	random	random	ADJ
ajeer-236	82	15	.	.	PUNCT
ajeer-236	83	1	fama	fama	PROPN
ajeer-236	83	2	(	(	PUNCT
ajeer-236	83	3	1970	1970	NUM
ajeer-236	83	4	)	)	PUNCT
ajeer-236	83	5	then	then	ADV
ajeer-236	83	6	proposes	propose	VERB
ajeer-236	83	7	an	an	DET
ajeer-236	83	8	efficient	efficient	ADJ
ajeer-236	83	9	market	market	NOUN
ajeer-236	83	10	1according	1according	NUM
ajeer-236	83	11	to	to	ADP
ajeer-236	83	12	khanna	khanna	PROPN
ajeer-236	83	13	and	and	CCONJ
ajeer-236	83	14	yishay	yishay	PROPN
ajeer-236	83	15	(	(	PUNCT
ajeer-236	83	16	2015	2015	NUM
ajeer-236	83	17	)	)	PUNCT
ajeer-236	83	18	.	.	PUNCT
ajeer-236	84	1	diversification	diversification	NOUN
ajeer-236	84	2	is	be	AUX
ajeer-236	84	3	measured	measure	VERB
ajeer-236	84	4	by	by	ADP
ajeer-236	84	5	two	two	NUM
ajeer-236	84	6	-	-	PUNCT
ajeer-236	84	7	digit	digit	NOUN
ajeer-236	84	8	isic	isic	NOUN
ajeer-236	84	9	industry	industry	NOUN
ajeer-236	84	10	classifications	classification	NOUN
ajeer-236	84	11	.	.	PUNCT
ajeer-236	85	1	the	the	DET
ajeer-236	85	2	degree	degree	NOUN
ajeer-236	85	3	of	of	ADP
ajeer-236	85	4	vertical	vertical	ADJ
ajeer-236	85	5	integration	integration	NOUN
ajeer-236	85	6	of	of	ADP
ajeer-236	85	7	a	a	DET
ajeer-236	85	8	business	business	NOUN
ajeer-236	85	9	group	group	NOUN
ajeer-236	85	10	(	(	PUNCT
ajeer-236	85	11	x	x	X
ajeer-236	85	12	,	,	PUNCT
ajeer-236	85	13	y	y	NOUN
ajeer-236	85	14	)	)	PUNCT
ajeer-236	85	15	is	be	AUX
ajeer-236	85	16	measured	measure	VERB
ajeer-236	85	17	by	by	ADP
ajeer-236	85	18	the	the	DET
ajeer-236	85	19	degree	degree	NOUN
ajeer-236	85	20	of	of	ADP
ajeer-236	85	21	investment	investment	NOUN
ajeer-236	85	22	in	in	ADP
ajeer-236	85	23	each	each	DET
ajeer-236	85	24	other‟s	other‟s	NOUN
ajeer-236	85	25	businesses	business	NOUN
ajeer-236	85	26	.	.	PUNCT
ajeer-236	86	1	the	the	DET
ajeer-236	86	2	petrochemical	petrochemical	NOUN
ajeer-236	86	3	system	system	NOUN
ajeer-236	86	4	of	of	ADP
ajeer-236	86	5	formosa	formosa	PROPN
ajeer-236	86	6	plastics	plastic	NOUN
ajeer-236	86	7	group	group	NOUN
ajeer-236	86	8	basically	basically	ADV
ajeer-236	86	9	mimicked	mimic	VERB
ajeer-236	86	10	japan‟s	japan‟s	ADP
ajeer-236	86	11	regional	regional	ADJ
ajeer-236	86	12	petrochemical	petrochemical	NOUN
ajeer-236	86	13	industry	industry	NOUN
ajeer-236	86	14	connection	connection	NOUN
ajeer-236	86	15	model	model	NOUN
ajeer-236	86	16	of	of	ADP
ajeer-236	86	17	isard	isard	ADJ
ajeer-236	86	18	(	(	PUNCT
ajeer-236	86	19	1951	1951	NUM
ajeer-236	86	20	)	)	PUNCT
ajeer-236	86	21	.	.	PUNCT
ajeer-236	87	1	in	in	ADP
ajeer-236	87	2	taiwan	taiwan	PROPN
ajeer-236	87	3	tsai	tsai	PROPN
ajeer-236	87	4	(	(	PUNCT
ajeer-236	87	5	1997	1997	NUM
ajeer-236	87	6	)	)	PUNCT
ajeer-236	87	7	.	.	PUNCT
ajeer-236	88	1	based	base	VERB
ajeer-236	88	2	on	on	ADP
ajeer-236	88	3	the	the	DET
ajeer-236	88	4	investment	investment	NOUN
ajeer-236	88	5	input	input	NOUN
ajeer-236	88	6	,	,	PUNCT
ajeer-236	88	7	the	the	DET
ajeer-236	88	8	correlation	correlation	NOUN
ajeer-236	88	9	coefficients	coefficient	NOUN
ajeer-236	88	10	of	of	ADP
ajeer-236	88	11	petrochemical	petrochemical	NOUN
ajeer-236	88	12	industry	industry	NOUN
ajeer-236	88	13	businesses	business	NOUN
ajeer-236	88	14	are	be	AUX
ajeer-236	88	15	7.72	7.72	NUM
ajeer-236	88	16	for	for	ADP
ajeer-236	88	17	formosa	formosa	NOUN
ajeer-236	88	18	plastics	plastic	NOUN
ajeer-236	88	19	group	group	NOUN
ajeer-236	88	20	and	and	CCONJ
ajeer-236	88	21	6.71	6.71	NUM
ajeer-236	88	22	for	for	ADP
ajeer-236	88	23	far	far	ADJ
ajeer-236	88	24	eastern	eastern	ADJ
ajeer-236	88	25	group	group	NOUN
ajeer-236	88	26	(	(	PUNCT
ajeer-236	88	27	see	see	VERB
ajeer-236	88	28	appendix	appendix	NOUN
ajeer-236	88	29	1	1	NUM
ajeer-236	88	30	)	)	PUNCT
ajeer-236	88	31	.	.	PUNCT
ajeer-236	89	1	as	as	ADP
ajeer-236	89	2	for	for	ADP
ajeer-236	89	3	the	the	DET
ajeer-236	89	4	degree	degree	NOUN
ajeer-236	89	5	of	of	ADP
ajeer-236	89	6	diversification	diversification	NOUN
ajeer-236	89	7	,	,	PUNCT
ajeer-236	89	8	as	as	SCONJ
ajeer-236	89	9	this	this	DET
ajeer-236	89	10	study	study	NOUN
ajeer-236	89	11	does	do	AUX
ajeer-236	89	12	not	not	PART
ajeer-236	89	13	use	use	VERB
ajeer-236	89	14	individual	individual	ADJ
ajeer-236	89	15	company‟s	company‟s	NOUN
ajeer-236	89	16	data	datum	NOUN
ajeer-236	89	17	,	,	PUNCT
ajeer-236	89	18	there	there	PRON
ajeer-236	89	19	is	be	VERB
ajeer-236	89	20	no	no	DET
ajeer-236	89	21	need	need	NOUN
ajeer-236	89	22	to	to	PART
ajeer-236	89	23	calculate	calculate	VERB
ajeer-236	89	24	the	the	DET
ajeer-236	89	25	weighted	weight	VERB
ajeer-236	89	26	entropy	entropy	PROPN
ajeer-236	89	27	index	index	NOUN
ajeer-236	89	28	of	of	ADP
ajeer-236	89	29	palepu	palepu	NOUN
ajeer-236	89	30	(	(	PUNCT
ajeer-236	89	31	1985	1985	NUM
ajeer-236	89	32	)	)	PUNCT
ajeer-236	89	33	.	.	PUNCT
ajeer-236	90	1	the	the	DET
ajeer-236	90	2	formosa	formosa	PROPN
ajeer-236	90	3	plastics	plastic	NOUN
ajeer-236	90	4	group	group	NOUN
ajeer-236	90	5	has	have	VERB
ajeer-236	90	6	nine	nine	NUM
ajeer-236	90	7	companies	company	NOUN
ajeer-236	90	8	across	across	ADP
ajeer-236	90	9	four	four	NUM
ajeer-236	90	10	industries	industry	NOUN
ajeer-236	90	11	(	(	PUNCT
ajeer-236	90	12	0.44	0.44	NUM
ajeer-236	90	13	)	)	PUNCT
ajeer-236	90	14	and	and	CCONJ
ajeer-236	90	15	the	the	DET
ajeer-236	90	16	far	far	ADV
ajeer-236	90	17	eastern	eastern	ADJ
ajeer-236	90	18	group	group	NOUN
ajeer-236	90	19	has	have	VERB
ajeer-236	90	20	eight	eight	NUM
ajeer-236	90	21	companies	company	NOUN
ajeer-236	90	22	across	across	ADP
ajeer-236	90	23	seven	seven	NUM
ajeer-236	90	24	industries	industry	NOUN
ajeer-236	90	25	(	(	PUNCT
ajeer-236	90	26	0.87	0.87	NUM
ajeer-236	90	27	)	)	PUNCT
ajeer-236	90	28	.	.	PUNCT
ajeer-236	91	1	therefore	therefore	ADV
ajeer-236	91	2	,	,	PUNCT
ajeer-236	91	3	comparing	compare	VERB
ajeer-236	91	4	the	the	DET
ajeer-236	91	5	two	two	NUM
ajeer-236	91	6	business	business	NOUN
ajeer-236	91	7	groups	group	NOUN
ajeer-236	91	8	,	,	PUNCT
ajeer-236	91	9	this	this	DET
ajeer-236	91	10	study	study	NOUN
ajeer-236	91	11	defines	define	VERB
ajeer-236	91	12	the	the	DET
ajeer-236	91	13	former	former	ADJ
ajeer-236	91	14	as	as	ADP
ajeer-236	91	15	having	have	VERB
ajeer-236	91	16	a	a	DET
ajeer-236	91	17	vertical	vertical	ADJ
ajeer-236	91	18	integration	integration	NOUN
ajeer-236	91	19	and	and	CCONJ
ajeer-236	91	20	the	the	DET
ajeer-236	91	21	later	later	ADV
ajeer-236	91	22	as	as	ADP
ajeer-236	91	23	having	have	VERB
ajeer-236	91	24	a	a	DET
ajeer-236	91	25	diversification	diversification	NOUN
ajeer-236	91	26	.	.	PUNCT
ajeer-236	92	1	2	2	NUM
ajeer-236	92	2	refer	refer	VERB
ajeer-236	92	3	to	to	ADP
ajeer-236	92	4	united	united	PROPN
ajeer-236	92	5	daily	daily	PROPN
ajeer-236	92	6	news	news	PROPN
ajeer-236	92	7	(	(	PUNCT
ajeer-236	92	8	2017	2017	NUM
ajeer-236	92	9	-	-	SYM
ajeer-236	92	10	05	05	NUM
ajeer-236	92	11	-	-	PUNCT
ajeer-236	92	12	18	18	NUM
ajeer-236	92	13	)	)	PUNCT
ajeer-236	92	14	,	,	PUNCT
ajeer-236	92	15	“	"	PUNCT
ajeer-236	92	16	family	family	NOUN
ajeer-236	92	17	members	member	NOUN
ajeer-236	92	18	of	of	ADP
ajeer-236	92	19	formosa	formosa	PROPN
ajeer-236	92	20	plastics	plastic	NOUN
ajeer-236	92	21	group	group	NOUN
ajeer-236	92	22	withdraw	withdraw	VERB
ajeer-236	92	23	from	from	ADP
ajeer-236	92	24	executive	executive	ADJ
ajeer-236	92	25	centre	centre	NOUN
ajeer-236	92	26	from	from	ADP
ajeer-236	92	27	june	june	PROPN
ajeer-236	92	28	.	.	PUNCT
ajeer-236	92	29	”	"	PUNCT
ajeer-236	93	1	https://udn.com/news/story/11142/2471011	https://udn.com/news/story/11142/2471011	PROPN
ajeer-236	93	2	.	.	PUNCT
ajeer-236	94	1	unique	unique	ADJ
ajeer-236	94	2	business	business	NOUN
ajeer-236	94	3	weekly	weekly	NOUN
ajeer-236	94	4	(	(	PUNCT
ajeer-236	94	5	issue	issue	NOUN
ajeer-236	94	6	1011	1011	NUM
ajeer-236	94	7	)	)	PUNCT
ajeer-236	94	8	(	(	PUNCT
ajeer-236	94	9	2017	2017	NUM
ajeer-236	94	10	-	-	SYM
ajeer-236	94	11	10	10	NUM
ajeer-236	94	12	-	-	NUM
ajeer-236	94	13	23	23	NUM
ajeer-236	94	14	)	)	PUNCT
ajeer-236	94	15	,	,	PUNCT
ajeer-236	94	16	“	"	PUNCT
ajeer-236	94	17	profits	profit	NOUN
ajeer-236	94	18	tracing	trace	VERB
ajeer-236	94	19	by	by	ADP
ajeer-236	94	20	formosa	formosa	PROPN
ajeer-236	94	21	plastics	plastic	NOUN
ajeer-236	94	22	group	group	NOUN
ajeer-236	94	23	”	"	PUNCT
ajeer-236	94	24	.	.	PUNCT
ajeer-236	95	1	3refer	3refer	NUM
ajeer-236	95	2	to	to	ADP
ajeer-236	95	3	http://www.feg.com.tw/tw/business/important.aspx	http://www.feg.com.tw/tw/business/important.aspx	PRON
ajeer-236	95	4	and	and	CCONJ
ajeer-236	95	5	https://zh.wikipedia.org/	https://zh.wikipedia.org/	PRON
ajeer-236	95	6	4refer	4refer	NUM
ajeer-236	95	7	to	to	ADP
ajeer-236	95	8	wealth	wealth	NOUN
ajeer-236	95	9	magazine	magazine	NOUN
ajeer-236	95	10	(	(	PUNCT
ajeer-236	95	11	2017	2017	NUM
ajeer-236	95	12	-	-	SYM
ajeer-236	95	13	07	07	NUM
ajeer-236	95	14	-	-	PUNCT
ajeer-236	95	15	27	27	NUM
ajeer-236	95	16	)	)	PUNCT
ajeer-236	95	17	,	,	PUNCT
ajeer-236	95	18	“	"	PUNCT
ajeer-236	95	19	why	why	SCONJ
ajeer-236	95	20	does	do	AUX
ajeer-236	95	21	the	the	DET
ajeer-236	95	22	difference	difference	NOUN
ajeer-236	95	23	in	in	ADP
ajeer-236	95	24	market	market	NOUN
ajeer-236	95	25	values	value	NOUN
ajeer-236	95	26	of	of	ADP
ajeer-236	95	27	the	the	DET
ajeer-236	95	28	two	two	NUM
ajeer-236	95	29	biggest	big	ADJ
ajeer-236	95	30	business	business	NOUN
ajeer-236	95	31	groups	group	NOUN
ajeer-236	95	32	grow	grow	VERB
ajeer-236	95	33	larger	large	ADJ
ajeer-236	95	34	?	?	PUNCT
ajeer-236	96	1	vertical	vertical	ADJ
ajeer-236	96	2	integration	integration	NOUN
ajeer-236	96	3	of	of	ADP
ajeer-236	96	4	formosa	formosa	PROPN
ajeer-236	96	5	plastics	plastic	NOUN
ajeer-236	96	6	group	group	NOUN
ajeer-236	96	7	versus	versus	ADP
ajeer-236	96	8	the	the	DET
ajeer-236	96	9	diversification	diversification	NOUN
ajeer-236	96	10	of	of	ADP
ajeer-236	96	11	far	far	ADJ
ajeer-236	96	12	eastern	eastern	ADJ
ajeer-236	96	13	group	group	NOUN
ajeer-236	96	14	.	.	PUNCT
ajeer-236	96	15	”	"	PUNCT
ajeer-236	97	1	http://www.wealth.com.tw	http://www.wealth.com.tw	X
ajeer-236	97	2	https://udn.com/news/story/11142/2471011	https://udn.com/news/story/11142/2471011	PROPN
ajeer-236	98	1	http://www.feg.com.tw/tw/business/important.aspx	http://www.feg.com.tw/tw/business/important.aspx	PRON
ajeer-236	98	2	http://www.wealth.com.tw/	http://www.wealth.com.tw/	PROPN
ajeer-236	98	3	asian	asian	ADJ
ajeer-236	98	4	journal	journal	NOUN
ajeer-236	98	5	of	of	ADP
ajeer-236	98	6	economics	economic	NOUN
ajeer-236	98	7	and	and	CCONJ
ajeer-236	98	8	empirical	empirical	ADJ
ajeer-236	98	9	research	research	NOUN
ajeer-236	98	10	,	,	PUNCT
ajeer-236	98	11	2017	2017	NUM
ajeer-236	98	12	,	,	PUNCT
ajeer-236	98	13	4(2	4(2	NUM
ajeer-236	98	14	):	):	PUNCT
ajeer-236	98	15	106	106	NUM
ajeer-236	98	16	-	-	SYM
ajeer-236	98	17	120	120	NUM
ajeer-236	98	18	108	108	NUM
ajeer-236	98	19	hypothesis	hypothesis	NOUN
ajeer-236	98	20	(	(	PUNCT
ajeer-236	98	21	emh	emh	PROPN
ajeer-236	98	22	)	)	PUNCT
ajeer-236	98	23	by	by	ADP
ajeer-236	98	24	suggesting	suggest	VERB
ajeer-236	98	25	that	that	SCONJ
ajeer-236	98	26	all	all	DET
ajeer-236	98	27	participating	participate	VERB
ajeer-236	98	28	investors	investor	NOUN
ajeer-236	98	29	in	in	ADP
ajeer-236	98	30	the	the	DET
ajeer-236	98	31	market	market	NOUN
ajeer-236	98	32	are	be	AUX
ajeer-236	98	33	rational	rational	ADJ
ajeer-236	98	34	,	,	PUNCT
ajeer-236	98	35	are	be	AUX
ajeer-236	98	36	aimed	aim	VERB
ajeer-236	98	37	to	to	PART
ajeer-236	98	38	maximize	maximize	VERB
ajeer-236	98	39	their	their	PRON
ajeer-236	98	40	utility	utility	NOUN
ajeer-236	98	41	and	and	CCONJ
ajeer-236	98	42	are	be	AUX
ajeer-236	98	43	able	able	ADJ
ajeer-236	98	44	to	to	PART
ajeer-236	98	45	make	make	VERB
ajeer-236	98	46	unbiased	unbiased	ADJ
ajeer-236	98	47	estimates	estimate	NOUN
ajeer-236	98	48	based	base	VERB
ajeer-236	98	49	on	on	ADP
ajeer-236	98	50	all	all	DET
ajeer-236	98	51	available	available	ADJ
ajeer-236	98	52	information	information	NOUN
ajeer-236	98	53	.	.	PUNCT
ajeer-236	99	1	as	as	SCONJ
ajeer-236	99	2	the	the	DET
ajeer-236	99	3	stock	stock	NOUN
ajeer-236	99	4	prices	price	NOUN
ajeer-236	99	5	follow	follow	VERB
ajeer-236	99	6	random	random	ADJ
ajeer-236	99	7	walks	walk	NOUN
ajeer-236	99	8	and	and	CCONJ
ajeer-236	99	9	investors	investor	NOUN
ajeer-236	99	10	arbitrage	arbitrage	NOUN
ajeer-236	99	11	,	,	PUNCT
ajeer-236	99	12	no	no	DET
ajeer-236	99	13	abnormal	abnormal	ADJ
ajeer-236	99	14	profits	profit	NOUN
ajeer-236	99	15	exist	exist	VERB
ajeer-236	99	16	in	in	ADP
ajeer-236	99	17	the	the	DET
ajeer-236	99	18	market	market	NOUN
ajeer-236	99	19	.	.	PUNCT
ajeer-236	100	1	more	more	ADJ
ajeer-236	100	2	and	and	CCONJ
ajeer-236	100	3	more	more	ADJ
ajeer-236	100	4	evidence	evidence	NOUN
ajeer-236	100	5	reveal	reveal	VERB
ajeer-236	100	6	market	market	NOUN
ajeer-236	100	7	anomalies	anomaly	NOUN
ajeer-236	100	8	after	after	ADP
ajeer-236	100	9	1980s	1980s	NUM
ajeer-236	100	10	,	,	PUNCT
ajeer-236	100	11	showing	show	VERB
ajeer-236	100	12	“	"	PUNCT
ajeer-236	100	13	limited	limited	ADJ
ajeer-236	100	14	rational	rational	ADJ
ajeer-236	100	15	behavior	behavior	NOUN
ajeer-236	100	16	”	"	PUNCT
ajeer-236	100	17	as	as	SCONJ
ajeer-236	100	18	suggested	suggest	VERB
ajeer-236	100	19	by	by	ADP
ajeer-236	100	20	behavioral	behavioral	ADJ
ajeer-236	100	21	finance	finance	NOUN
ajeer-236	100	22	.	.	PUNCT
ajeer-236	101	1	shiller	shiller	PROPN
ajeer-236	101	2	(	(	PUNCT
ajeer-236	101	3	1981	1981	NUM
ajeer-236	101	4	)	)	PUNCT
ajeer-236	101	5	finds	find	VERB
ajeer-236	101	6	that	that	SCONJ
ajeer-236	101	7	the	the	DET
ajeer-236	101	8	results	result	NOUN
ajeer-236	101	9	of	of	ADP
ajeer-236	101	10	nyse	nyse	PROPN
ajeer-236	101	11	listed	list	VERB
ajeer-236	101	12	companies	company	NOUN
ajeer-236	101	13	are	be	AUX
ajeer-236	101	14	completely	completely	ADV
ajeer-236	101	15	differently	differently	ADV
ajeer-236	101	16	from	from	ADP
ajeer-236	101	17	sharp‟s	sharp‟s	ADJ
ajeer-236	101	18	asset	asset	NOUN
ajeer-236	101	19	pricing	pricing	NOUN
ajeer-236	101	20	model	model	NOUN
ajeer-236	101	21	.	.	PUNCT
ajeer-236	102	1	the	the	DET
ajeer-236	102	2	return	return	NOUN
ajeer-236	102	3	of	of	ADP
ajeer-236	102	4	higher	high	ADJ
ajeer-236	102	5	risk	risk	NOUN
ajeer-236	102	6	stocks	stock	NOUN
ajeer-236	102	7	is	be	AUX
ajeer-236	102	8	lower	low	ADJ
ajeer-236	102	9	than	than	ADP
ajeer-236	102	10	the	the	DET
ajeer-236	102	11	theoretical	theoretical	ADJ
ajeer-236	102	12	prediction	prediction	NOUN
ajeer-236	102	13	.	.	PUNCT
ajeer-236	103	1	the	the	DET
ajeer-236	103	2	volatility	volatility	NOUN
ajeer-236	103	3	of	of	ADP
ajeer-236	103	4	stock	stock	NOUN
ajeer-236	103	5	prices	price	NOUN
ajeer-236	103	6	can	can	AUX
ajeer-236	103	7	not	not	PART
ajeer-236	103	8	be	be	AUX
ajeer-236	103	9	predicted	predict	VERB
ajeer-236	103	10	by	by	ADP
ajeer-236	103	11	the	the	DET
ajeer-236	103	12	discounted	discount	VERB
ajeer-236	103	13	present	present	ADJ
ajeer-236	103	14	value	value	NOUN
ajeer-236	103	15	of	of	ADP
ajeer-236	103	16	premium	premium	NOUN
ajeer-236	103	17	.	.	PUNCT
ajeer-236	104	1	banz	banz	PROPN
ajeer-236	104	2	(	(	PUNCT
ajeer-236	104	3	1981	1981	NUM
ajeer-236	104	4	)	)	PUNCT
ajeer-236	104	5	finds	find	VERB
ajeer-236	104	6	that	that	SCONJ
ajeer-236	104	7	the	the	DET
ajeer-236	104	8	monthly	monthly	ADJ
ajeer-236	104	9	returns	return	NOUN
ajeer-236	104	10	of	of	ADP
ajeer-236	104	11	50	50	NUM
ajeer-236	104	12	smallest	small	ADJ
ajeer-236	104	13	market	market	NOUN
ajeer-236	104	14	cap	cap	NOUN
ajeer-236	104	15	companies	company	NOUN
ajeer-236	104	16	are	be	AUX
ajeer-236	104	17	1	1	NUM
ajeer-236	104	18	%	%	NOUN
ajeer-236	104	19	higher	high	ADJ
ajeer-236	104	20	than	than	ADP
ajeer-236	104	21	the	the	DET
ajeer-236	104	22	returns	return	NOUN
ajeer-236	104	23	of	of	ADP
ajeer-236	104	24	50	50	NUM
ajeer-236	104	25	largest	large	ADJ
ajeer-236	104	26	market	market	NOUN
ajeer-236	104	27	cap	cap	NOUN
ajeer-236	104	28	companies	company	NOUN
ajeer-236	104	29	.	.	PUNCT
ajeer-236	105	1	lakonishok	lakonishok	NOUN
ajeer-236	105	2	and	and	CCONJ
ajeer-236	105	3	smidt	smidt	NOUN
ajeer-236	105	4	(	(	PUNCT
ajeer-236	105	5	1988	1988	NUM
ajeer-236	105	6	)	)	PUNCT
ajeer-236	105	7	also	also	ADV
ajeer-236	105	8	find	find	VERB
ajeer-236	105	9	season	season	NOUN
ajeer-236	105	10	effect	effect	NOUN
ajeer-236	105	11	in	in	ADP
ajeer-236	105	12	us	us	PROPN
ajeer-236	105	13	stock	stock	NOUN
ajeer-236	105	14	markets	market	NOUN
ajeer-236	105	15	and	and	CCONJ
ajeer-236	105	16	cadsby	cadsby	ADJ
ajeer-236	105	17	(	(	PUNCT
ajeer-236	105	18	1989	1989	NUM
ajeer-236	105	19	)	)	PUNCT
ajeer-236	105	20	reports	report	NOUN
ajeer-236	105	21	calendar	calendar	NOUN
ajeer-236	105	22	effect	effect	NOUN
ajeer-236	105	23	in	in	ADP
ajeer-236	105	24	canadian	canadian	ADJ
ajeer-236	105	25	stock	stock	NOUN
ajeer-236	105	26	market	market	NOUN
ajeer-236	105	27	.	.	PUNCT
ajeer-236	106	1	as	as	ADP
ajeer-236	106	2	for	for	ADP
ajeer-236	106	3	the	the	DET
ajeer-236	106	4	herding	herding	NOUN
ajeer-236	106	5	behavior	behavior	NOUN
ajeer-236	106	6	,	,	PUNCT
ajeer-236	106	7	shiller	shiller	PROPN
ajeer-236	106	8	(	(	PUNCT
ajeer-236	106	9	1979	1979	NUM
ajeer-236	106	10	)	)	PUNCT
ajeer-236	106	11	finds	find	VERB
ajeer-236	106	12	over	over	ADP
ajeer-236	106	13	reaction	reaction	NOUN
ajeer-236	106	14	in	in	ADP
ajeer-236	106	15	speculative	speculative	ADJ
ajeer-236	106	16	asset	asset	NOUN
ajeer-236	106	17	prices	price	NOUN
ajeer-236	106	18	.	.	PUNCT
ajeer-236	107	1	investors	investor	NOUN
ajeer-236	107	2	often	often	ADV
ajeer-236	107	3	trade	trade	VERB
ajeer-236	107	4	based	base	VERB
ajeer-236	107	5	on	on	ADP
ajeer-236	107	6	noise	noise	NOUN
ajeer-236	107	7	trading	trading	NOUN
ajeer-236	107	8	and	and	CCONJ
ajeer-236	107	9	have	have	VERB
ajeer-236	107	10	positive	positive	ADJ
ajeer-236	107	11	feedback	feedback	NOUN
ajeer-236	107	12	behavior	behavior	NOUN
ajeer-236	107	13	.	.	PUNCT
ajeer-236	108	1	economists	economist	NOUN
ajeer-236	108	2	propose	propose	VERB
ajeer-236	108	3	reasons	reason	NOUN
ajeer-236	108	4	from	from	ADP
ajeer-236	108	5	the	the	DET
ajeer-236	108	6	perspectives	perspective	NOUN
ajeer-236	108	7	of	of	ADP
ajeer-236	108	8	information	information	NOUN
ajeer-236	108	9	asymmetry	asymmetry	NOUN
ajeer-236	108	10	,	,	PUNCT
ajeer-236	108	11	reputation	reputation	NOUN
ajeer-236	108	12	,	,	PUNCT
ajeer-236	108	13	return	return	NOUN
ajeer-236	108	14	and	and	CCONJ
ajeer-236	108	15	limited	limited	ADJ
ajeer-236	108	16	rational	rational	ADJ
ajeer-236	108	17	behavior	behavior	NOUN
ajeer-236	108	18	.	.	PUNCT
ajeer-236	109	1	from	from	ADP
ajeer-236	109	2	the	the	DET
ajeer-236	109	3	information	information	NOUN
ajeer-236	109	4	cascade	cascade	NOUN
ajeer-236	109	5	point	point	NOUN
ajeer-236	109	6	of	of	ADP
ajeer-236	109	7	view	view	NOUN
ajeer-236	109	8	,	,	PUNCT
ajeer-236	109	9	bikhchandani	bikhchandani	PROPN
ajeer-236	109	10	et	et	PROPN
ajeer-236	109	11	al	al	PROPN
ajeer-236	109	12	.	.	PROPN
ajeer-236	110	1	(	(	PUNCT
ajeer-236	110	2	1992	1992	NUM
ajeer-236	110	3	)	)	PUNCT
ajeer-236	110	4	argue	argue	VERB
ajeer-236	110	5	that	that	SCONJ
ajeer-236	110	6	when	when	SCONJ
ajeer-236	110	7	investors	investor	NOUN
ajeer-236	110	8	omit	omit	VERB
ajeer-236	110	9	private	private	ADJ
ajeer-236	110	10	information	information	NOUN
ajeer-236	110	11	and	and	CCONJ
ajeer-236	110	12	simply	simply	ADV
ajeer-236	110	13	mimic	mimic	VERB
ajeer-236	110	14	others	other	NOUN
ajeer-236	110	15	,	,	PUNCT
ajeer-236	110	16	this	this	PRON
ajeer-236	110	17	has	have	VERB
ajeer-236	110	18	great	great	ADJ
ajeer-236	110	19	impacts	impact	NOUN
ajeer-236	110	20	on	on	ADP
ajeer-236	110	21	the	the	DET
ajeer-236	110	22	markets	market	NOUN
ajeer-236	110	23	and	and	CCONJ
ajeer-236	110	24	is	be	AUX
ajeer-236	110	25	likely	likely	ADJ
ajeer-236	110	26	to	to	PART
ajeer-236	110	27	cause	cause	VERB
ajeer-236	110	28	a	a	DET
ajeer-236	110	29	domino	domino	NOUN
ajeer-236	110	30	effect	effect	NOUN
ajeer-236	110	31	.	.	PUNCT
ajeer-236	111	1	scharfstein	scharfstein	PROPN
ajeer-236	111	2	and	and	CCONJ
ajeer-236	111	3	stein	stein	PROPN
ajeer-236	111	4	(	(	PUNCT
ajeer-236	111	5	1990	1990	NUM
ajeer-236	111	6	)	)	PUNCT
ajeer-236	111	7	from	from	ADP
ajeer-236	111	8	the	the	DET
ajeer-236	111	9	reputation	reputation	NOUN
ajeer-236	111	10	viewpoint	viewpoint	NOUN
ajeer-236	111	11	suggest	suggest	VERB
ajeer-236	111	12	that	that	SCONJ
ajeer-236	111	13	by	by	ADP
ajeer-236	111	14	mimicking	mimic	VERB
ajeer-236	111	15	other	other	ADJ
ajeer-236	111	16	managers‟	managers‟	NOUN
ajeer-236	111	17	investment	investment	NOUN
ajeer-236	111	18	portfolio	portfolio	NOUN
ajeer-236	111	19	,	,	PUNCT
ajeer-236	111	20	managers	manager	NOUN
ajeer-236	111	21	can	can	AUX
ajeer-236	111	22	save	save	VERB
ajeer-236	111	23	the	the	DET
ajeer-236	111	24	cost	cost	NOUN
ajeer-236	111	25	of	of	ADP
ajeer-236	111	26	information	information	NOUN
ajeer-236	111	27	search	search	NOUN
ajeer-236	111	28	.	.	PUNCT
ajeer-236	112	1	they	they	PRON
ajeer-236	112	2	can	can	AUX
ajeer-236	112	3	also	also	ADV
ajeer-236	112	4	shirk	shirk	VERB
ajeer-236	112	5	responsibility	responsibility	NOUN
ajeer-236	112	6	and	and	CCONJ
ajeer-236	112	7	have	have	VERB
ajeer-236	112	8	less	less	ADJ
ajeer-236	112	9	regrets	regret	NOUN
ajeer-236	112	10	if	if	SCONJ
ajeer-236	112	11	making	make	VERB
ajeer-236	112	12	investment	investment	NOUN
ajeer-236	112	13	losses	loss	NOUN
ajeer-236	112	14	.	.	PUNCT
ajeer-236	113	1	maug	maug	NOUN
ajeer-236	113	2	and	and	CCONJ
ajeer-236	113	3	naik	naik	PROPN
ajeer-236	113	4	(	(	PUNCT
ajeer-236	113	5	2013	2013	NUM
ajeer-236	113	6	)	)	PUNCT
ajeer-236	113	7	from	from	ADP
ajeer-236	113	8	the	the	DET
ajeer-236	113	9	return	return	NOUN
ajeer-236	113	10	viewpoint	viewpoint	NOUN
ajeer-236	113	11	argue	argue	VERB
ajeer-236	113	12	that	that	SCONJ
ajeer-236	113	13	due	due	ADP
ajeer-236	113	14	to	to	ADP
ajeer-236	113	15	moral	moral	ADJ
ajeer-236	113	16	hazard	hazard	NOUN
ajeer-236	113	17	and	and	CCONJ
ajeer-236	113	18	inverse	inverse	NOUN
ajeer-236	113	19	selection	selection	NOUN
ajeer-236	113	20	,	,	PUNCT
ajeer-236	113	21	having	have	VERB
ajeer-236	113	22	optimal	optimal	ADJ
ajeer-236	113	23	contracts	contract	NOUN
ajeer-236	113	24	between	between	ADP
ajeer-236	113	25	managers	manager	NOUN
ajeer-236	113	26	and	and	CCONJ
ajeer-236	113	27	the	the	DET
ajeer-236	113	28	owner	owner	NOUN
ajeer-236	113	29	that	that	PRON
ajeer-236	113	30	link	link	VERB
ajeer-236	113	31	remuneration	remuneration	NOUN
ajeer-236	113	32	with	with	ADP
ajeer-236	113	33	performance	performance	NOUN
ajeer-236	113	34	is	be	AUX
ajeer-236	113	35	the	the	DET
ajeer-236	113	36	best	good	ADJ
ajeer-236	113	37	solution	solution	NOUN
ajeer-236	113	38	.	.	PUNCT
ajeer-236	114	1	managers	manager	NOUN
ajeer-236	114	2	are	be	AUX
ajeer-236	114	3	encouraged	encourage	VERB
ajeer-236	114	4	to	to	PART
ajeer-236	114	5	collect	collect	VERB
ajeer-236	114	6	information	information	NOUN
ajeer-236	114	7	and	and	CCONJ
ajeer-236	114	8	therefore	therefore	ADV
ajeer-236	114	9	avoid	avoid	VERB
ajeer-236	114	10	moral	moral	ADJ
ajeer-236	114	11	hazard	hazard	NOUN
ajeer-236	114	12	.	.	PUNCT
ajeer-236	115	1	also	also	ADV
ajeer-236	115	2	,	,	PUNCT
ajeer-236	115	3	we	we	PRON
ajeer-236	115	4	can	can	AUX
ajeer-236	115	5	separate	separate	VERB
ajeer-236	115	6	good	good	ADJ
ajeer-236	115	7	and	and	CCONJ
ajeer-236	115	8	bad	bad	ADJ
ajeer-236	115	9	fund	fund	NOUN
ajeer-236	115	10	managers	manager	NOUN
ajeer-236	115	11	and	and	CCONJ
ajeer-236	115	12	avoid	avoid	VERB
ajeer-236	115	13	inverse	inverse	ADJ
ajeer-236	115	14	selections	selection	NOUN
ajeer-236	115	15	.	.	PUNCT
ajeer-236	116	1	therefore	therefore	ADV
ajeer-236	116	2	,	,	PUNCT
ajeer-236	116	3	fund	fund	NOUN
ajeer-236	116	4	managers	manager	NOUN
ajeer-236	116	5	tend	tend	VERB
ajeer-236	116	6	to	to	PART
ajeer-236	116	7	have	have	VERB
ajeer-236	116	8	herd	herd	ADJ
ajeer-236	116	9	behavior	behavior	NOUN
ajeer-236	116	10	.	.	PUNCT
ajeer-236	117	1	the	the	DET
ajeer-236	117	2	empirical	empirical	ADJ
ajeer-236	117	3	evidence	evidence	NOUN
ajeer-236	117	4	by	by	ADP
ajeer-236	117	5	lakonishok	lakonishok	PROPN
ajeer-236	117	6	et	et	PROPN
ajeer-236	117	7	al	al	PROPN
ajeer-236	117	8	.	.	PROPN
ajeer-236	117	9	(	(	PUNCT
ajeer-236	117	10	1992	1992	NUM
ajeer-236	117	11	)	)	PUNCT
ajeer-236	117	12	shows	show	VERB
ajeer-236	117	13	herding	herd	VERB
ajeer-236	117	14	behavior	behavior	NOUN
ajeer-236	117	15	among	among	ADP
ajeer-236	117	16	fund	fund	NOUN
ajeer-236	117	17	managers	manager	NOUN
ajeer-236	117	18	when	when	SCONJ
ajeer-236	117	19	they	they	PRON
ajeer-236	117	20	trade	trade	VERB
ajeer-236	117	21	small	small	ADJ
ajeer-236	117	22	companies‟	companies‟	X
ajeer-236	117	23	stocks	stock	NOUN
ajeer-236	117	24	.	.	PUNCT
ajeer-236	118	1	froot	froot	NOUN
ajeer-236	118	2	et	et	PROPN
ajeer-236	118	3	al	al	PROPN
ajeer-236	118	4	.	.	PROPN
ajeer-236	119	1	(	(	PUNCT
ajeer-236	119	2	1993	1993	NUM
ajeer-236	119	3	)	)	PUNCT
ajeer-236	119	4	also	also	ADV
ajeer-236	119	5	find	find	VERB
ajeer-236	119	6	herding	herd	VERB
ajeer-236	119	7	behavior	behavior	NOUN
ajeer-236	119	8	among	among	ADP
ajeer-236	119	9	financial	financial	ADJ
ajeer-236	119	10	analysts	analyst	NOUN
ajeer-236	119	11	as	as	SCONJ
ajeer-236	119	12	they	they	PRON
ajeer-236	119	13	use	use	VERB
ajeer-236	119	14	similar	similar	ADJ
ajeer-236	119	15	information	information	NOUN
ajeer-236	119	16	sources	source	NOUN
ajeer-236	119	17	,	,	PUNCT
ajeer-236	119	18	economic	economic	ADJ
ajeer-236	119	19	models	model	NOUN
ajeer-236	119	20	,	,	PUNCT
ajeer-236	119	21	investment	investment	NOUN
ajeer-236	119	22	portfolios	portfolio	NOUN
ajeer-236	119	23	and	and	CCONJ
ajeer-236	119	24	hedging	hedging	NOUN
ajeer-236	119	25	strategies	strategy	NOUN
ajeer-236	119	26	.	.	PUNCT
ajeer-236	120	1	christie	christie	PROPN
ajeer-236	120	2	and	and	CCONJ
ajeer-236	120	3	huang	huang	PROPN
ajeer-236	120	4	(	(	PUNCT
ajeer-236	120	5	1995	1995	NUM
ajeer-236	120	6	)	)	PUNCT
ajeer-236	120	7	examine	examine	VERB
ajeer-236	120	8	the	the	DET
ajeer-236	120	9	measures	measure	NOUN
ajeer-236	120	10	for	for	ADP
ajeer-236	120	11	herding	herd	VERB
ajeer-236	120	12	effect	effect	NOUN
ajeer-236	120	13	,	,	PUNCT
ajeer-236	120	14	stock	stock	NOUN
ajeer-236	120	15	market	market	NOUN
ajeer-236	120	16	returns	return	NOUN
ajeer-236	120	17	and	and	CCONJ
ajeer-236	120	18	dispersion	dispersion	NOUN
ajeer-236	120	19	in	in	ADP
ajeer-236	120	20	investment	investment	NOUN
ajeer-236	120	21	portfolio	portfolio	NOUN
ajeer-236	120	22	returns	return	NOUN
ajeer-236	120	23	.	.	PUNCT
ajeer-236	121	1	they	they	PRON
ajeer-236	121	2	find	find	VERB
ajeer-236	121	3	that	that	SCONJ
ajeer-236	121	4	the	the	PRON
ajeer-236	121	5	smaller	small	ADJ
ajeer-236	121	6	the	the	DET
ajeer-236	121	7	dispersion	dispersion	NOUN
ajeer-236	121	8	,	,	PUNCT
ajeer-236	121	9	the	the	DET
ajeer-236	121	10	more	more	ADV
ajeer-236	121	11	prominent	prominent	ADJ
ajeer-236	121	12	the	the	DET
ajeer-236	121	13	herding	herding	NOUN
ajeer-236	121	14	effect	effect	NOUN
ajeer-236	121	15	.	.	PUNCT
ajeer-236	122	1	wermers	wermer	NOUN
ajeer-236	122	2	(	(	PUNCT
ajeer-236	122	3	1999	1999	NUM
ajeer-236	122	4	)	)	PUNCT
ajeer-236	122	5	studies	study	VERB
ajeer-236	122	6	the	the	DET
ajeer-236	122	7	herding	herd	VERB
ajeer-236	122	8	behavior	behavior	NOUN
ajeer-236	122	9	of	of	ADP
ajeer-236	122	10	mutual	mutual	ADJ
ajeer-236	122	11	funds	fund	NOUN
ajeer-236	122	12	between	between	ADP
ajeer-236	122	13	1975	1975	NUM
ajeer-236	122	14	and	and	CCONJ
ajeer-236	122	15	1994	1994	NUM
ajeer-236	122	16	and	and	CCONJ
ajeer-236	122	17	finds	find	VERB
ajeer-236	122	18	that	that	SCONJ
ajeer-236	122	19	herding	herding	NOUN
ajeer-236	122	20	behavior	behavior	NOUN
ajeer-236	122	21	of	of	ADP
ajeer-236	122	22	mutual	mutual	ADJ
ajeer-236	122	23	funds	fund	NOUN
ajeer-236	122	24	is	be	AUX
ajeer-236	122	25	rational	rational	ADJ
ajeer-236	122	26	as	as	SCONJ
ajeer-236	122	27	it	it	PRON
ajeer-236	122	28	can	can	AUX
ajeer-236	122	29	fasten	fasten	VERB
ajeer-236	122	30	the	the	DET
ajeer-236	122	31	absorption	absorption	NOUN
ajeer-236	122	32	of	of	ADP
ajeer-236	122	33	information	information	NOUN
ajeer-236	122	34	in	in	ADP
ajeer-236	122	35	stock	stock	NOUN
ajeer-236	122	36	prices	price	NOUN
ajeer-236	122	37	and	and	CCONJ
ajeer-236	122	38	help	help	VERB
ajeer-236	122	39	stabilize	stabilize	VERB
ajeer-236	122	40	the	the	DET
ajeer-236	122	41	market	market	NOUN
ajeer-236	122	42	.	.	PUNCT
ajeer-236	123	1	however	however	ADV
ajeer-236	123	2	,	,	PUNCT
ajeer-236	123	3	kim	kim	PROPN
ajeer-236	123	4	and	and	CCONJ
ajeer-236	123	5	wei	wei	PROPN
ajeer-236	123	6	(	(	PUNCT
ajeer-236	123	7	2002	2002	NUM
ajeer-236	123	8	)	)	PUNCT
ajeer-236	123	9	examine	examine	VERB
ajeer-236	123	10	the	the	DET
ajeer-236	123	11	herding	herd	VERB
ajeer-236	123	12	behavior	behavior	NOUN
ajeer-236	123	13	of	of	ADP
ajeer-236	123	14	qfiis	qfiis	NOUN
ajeer-236	123	15	in	in	ADP
ajeer-236	123	16	korea	korea	PROPN
ajeer-236	123	17	and	and	CCONJ
ajeer-236	123	18	find	find	VERB
ajeer-236	123	19	that	that	SCONJ
ajeer-236	123	20	it	it	PRON
ajeer-236	123	21	can	can	AUX
ajeer-236	123	22	increase	increase	VERB
ajeer-236	123	23	volatilities	volatility	NOUN
ajeer-236	123	24	in	in	ADP
ajeer-236	123	25	the	the	DET
ajeer-236	123	26	emerging	emerge	VERB
ajeer-236	123	27	markets	market	NOUN
ajeer-236	123	28	.	.	PUNCT
ajeer-236	124	1	moreover	moreover	ADV
ajeer-236	124	2	,	,	PUNCT
ajeer-236	124	3	alanyali	alanyali	PROPN
ajeer-236	124	4	et	et	PROPN
ajeer-236	124	5	al	al	PROPN
ajeer-236	124	6	.	.	PROPN
ajeer-236	125	1	(	(	PUNCT
ajeer-236	125	2	2013	2013	NUM
ajeer-236	125	3	)	)	PUNCT
ajeer-236	125	4	find	find	VERB
ajeer-236	125	5	a	a	DET
ajeer-236	125	6	positive	positive	ADJ
ajeer-236	125	7	relationship	relationship	NOUN
ajeer-236	125	8	between	between	ADP
ajeer-236	125	9	the	the	DET
ajeer-236	125	10	numbers	number	NOUN
ajeer-236	125	11	of	of	ADP
ajeer-236	125	12	issues	issue	NOUN
ajeer-236	125	13	mentioned	mention	VERB
ajeer-236	125	14	in	in	ADP
ajeer-236	125	15	financial	financial	ADJ
ajeer-236	125	16	times	time	NOUN
ajeer-236	125	17	and	and	CCONJ
ajeer-236	125	18	daily	daily	ADJ
ajeer-236	125	19	trading	trading	NOUN
ajeer-236	125	20	volume	volume	NOUN
ajeer-236	125	21	.	.	PUNCT
ajeer-236	126	1	this	this	PRON
ajeer-236	126	2	shows	show	VERB
ajeer-236	126	3	a	a	DET
ajeer-236	126	4	close	close	ADJ
ajeer-236	126	5	relation	relation	NOUN
ajeer-236	126	6	between	between	ADP
ajeer-236	126	7	changes	change	NOUN
ajeer-236	126	8	in	in	ADP
ajeer-236	126	9	financial	financial	ADJ
ajeer-236	126	10	markets	market	NOUN
ajeer-236	126	11	and	and	CCONJ
ajeer-236	126	12	financial	financial	ADJ
ajeer-236	126	13	news	news	NOUN
ajeer-236	126	14	.	.	PUNCT
ajeer-236	127	1	cipriani	cipriani	PROPN
ajeer-236	127	2	and	and	CCONJ
ajeer-236	127	3	guarino	guarino	PROPN
ajeer-236	127	4	(	(	PUNCT
ajeer-236	127	5	2014	2014	NUM
ajeer-236	127	6	)	)	PUNCT
ajeer-236	127	7	builds	build	VERB
ajeer-236	127	8	a	a	DET
ajeer-236	127	9	herding	herd	VERB
ajeer-236	127	10	information	information	NOUN
ajeer-236	127	11	model	model	NOUN
ajeer-236	127	12	and	and	CCONJ
ajeer-236	127	13	shows	show	VERB
ajeer-236	127	14	that	that	SCONJ
ajeer-236	127	15	the	the	DET
ajeer-236	127	16	herding	herding	NOUN
ajeer-236	127	17	behavior	behavior	NOUN
ajeer-236	127	18	is	be	AUX
ajeer-236	127	19	rational	rational	ADJ
ajeer-236	127	20	when	when	SCONJ
ajeer-236	127	21	there	there	PRON
ajeer-236	127	22	is	be	VERB
ajeer-236	127	23	information	information	NOUN
ajeer-236	127	24	uncertainty	uncertainty	NOUN
ajeer-236	127	25	.	.	PUNCT
ajeer-236	128	1	herding	herd	VERB
ajeer-236	128	2	behavior	behavior	NOUN
ajeer-236	128	3	also	also	ADV
ajeer-236	128	4	typically	typically	ADV
ajeer-236	128	5	happens	happen	VERB
ajeer-236	128	6	on	on	ADP
ajeer-236	128	7	certain	certain	ADJ
ajeer-236	128	8	days	day	NOUN
ajeer-236	128	9	.	.	PUNCT
ajeer-236	129	1	on	on	ADP
ajeer-236	129	2	average	average	ADJ
ajeer-236	129	3	,	,	PUNCT
ajeer-236	129	4	there	there	PRON
ajeer-236	129	5	is	be	VERB
ajeer-236	129	6	a	a	DET
ajeer-236	129	7	2	2	NUM
ajeer-236	129	8	%	%	NOUN
ajeer-236	129	9	of	of	ADP
ajeer-236	129	10	herding	herding	NOUN
ajeer-236	129	11	buyers	buyer	NOUN
ajeer-236	129	12	and	and	CCONJ
ajeer-236	129	13	4	4	NUM
ajeer-236	129	14	%	%	NOUN
ajeer-236	129	15	of	of	ADP
ajeer-236	129	16	herding	herding	NOUN
ajeer-236	129	17	sellers	seller	NOUN
ajeer-236	129	18	.	.	PUNCT
ajeer-236	130	1	balcilar	balcilar	ADJ
ajeer-236	130	2	and	and	CCONJ
ajeer-236	130	3	demirer	demirer	ADJ
ajeer-236	130	4	(	(	PUNCT
ajeer-236	130	5	2015	2015	NUM
ajeer-236	130	6	)	)	PUNCT
ajeer-236	130	7	examine	examine	VERB
ajeer-236	130	8	turkish	turkish	ADJ
ajeer-236	130	9	investors	investor	NOUN
ajeer-236	130	10	and	and	CCONJ
ajeer-236	130	11	find	find	VERB
ajeer-236	130	12	that	that	SCONJ
ajeer-236	130	13	apart	apart	ADV
ajeer-236	130	14	from	from	ADP
ajeer-236	130	15	industrial	industrial	ADJ
ajeer-236	130	16	departments	department	NOUN
ajeer-236	130	17	,	,	PUNCT
ajeer-236	130	18	us	we	PRON
ajeer-236	130	19	and	and	CCONJ
ajeer-236	130	20	market	market	NOUN
ajeer-236	130	21	related	relate	VERB
ajeer-236	130	22	factors	factor	NOUN
ajeer-236	130	23	cause	cause	VERB
ajeer-236	130	24	a	a	DET
ajeer-236	130	25	transformation	transformation	NOUN
ajeer-236	130	26	in	in	ADP
ajeer-236	130	27	the	the	DET
ajeer-236	130	28	market	market	NOUN
ajeer-236	130	29	,	,	PUNCT
ajeer-236	130	30	causing	cause	VERB
ajeer-236	130	31	herding	herd	VERB
ajeer-236	130	32	behavior	behavior	NOUN
ajeer-236	130	33	in	in	ADP
ajeer-236	130	34	all	all	DET
ajeer-236	130	35	market	market	NOUN
ajeer-236	130	36	departments	department	NOUN
ajeer-236	130	37	.	.	PUNCT
ajeer-236	131	1	furthermore	furthermore	ADV
ajeer-236	131	2	,	,	PUNCT
ajeer-236	131	3	since	since	SCONJ
ajeer-236	131	4	the	the	DET
ajeer-236	131	5	financial	financial	ADJ
ajeer-236	131	6	tsunami	tsunami	NOUN
ajeer-236	131	7	in	in	ADP
ajeer-236	131	8	2007	2007	NUM
ajeer-236	131	9	,	,	PUNCT
ajeer-236	131	10	exchange	exchange	NOUN
ajeer-236	131	11	traded	trade	VERB
ajeer-236	131	12	funds	fund	NOUN
ajeer-236	131	13	(	(	PUNCT
ajeer-236	131	14	etfs	etfs	PROPN
ajeer-236	131	15	)	)	PUNCT
ajeer-236	131	16	become	become	VERB
ajeer-236	131	17	a	a	DET
ajeer-236	131	18	popular	popular	ADJ
ajeer-236	131	19	passive	passive	ADJ
ajeer-236	131	20	investment	investment	NOUN
ajeer-236	131	21	tool	tool	NOUN
ajeer-236	131	22	among	among	ADP
ajeer-236	131	23	retail	retail	ADJ
ajeer-236	131	24	and	and	CCONJ
ajeer-236	131	25	professional	professional	ADJ
ajeer-236	131	26	investors	investor	NOUN
ajeer-236	131	27	due	due	ADP
ajeer-236	131	28	to	to	ADP
ajeer-236	131	29	its	its	PRON
ajeer-236	131	30	low	low	ADJ
ajeer-236	131	31	transaction	transaction	NOUN
ajeer-236	131	32	costs	cost	NOUN
ajeer-236	131	33	.	.	PUNCT
ajeer-236	132	1	however	however	ADV
ajeer-236	132	2	,	,	PUNCT
ajeer-236	132	3	ben	ben	PROPN
ajeer-236	132	4	-	-	PROPN
ajeer-236	132	5	david	david	PROPN
ajeer-236	132	6	et	et	PROPN
ajeer-236	132	7	al	al	PROPN
ajeer-236	132	8	.	.	PROPN
ajeer-236	133	1	(	(	PUNCT
ajeer-236	133	2	2017	2017	NUM
ajeer-236	133	3	)	)	PUNCT
ajeer-236	133	4	find	find	VERB
ajeer-236	133	5	that	that	SCONJ
ajeer-236	133	6	although	although	SCONJ
ajeer-236	133	7	etfs	etfs	PROPN
ajeer-236	133	8	can	can	AUX
ajeer-236	133	9	help	help	VERB
ajeer-236	133	10	with	with	ADP
ajeer-236	133	11	price	price	NOUN
ajeer-236	133	12	discovery	discovery	NOUN
ajeer-236	133	13	,	,	PUNCT
ajeer-236	133	14	they	they	PRON
ajeer-236	133	15	can	can	AUX
ajeer-236	133	16	inject	inject	VERB
ajeer-236	133	17	non	non	ADJ
ajeer-236	133	18	-	-	ADJ
ajeer-236	133	19	fundamental	fundamental	ADJ
ajeer-236	133	20	volatility	volatility	NOUN
ajeer-236	133	21	to	to	ADP
ajeer-236	133	22	market	market	NOUN
ajeer-236	133	23	prices	price	NOUN
ajeer-236	133	24	and	and	CCONJ
ajeer-236	133	25	affect	affect	VERB
ajeer-236	133	26	the	the	DET
ajeer-236	133	27	correlation	correlation	NOUN
ajeer-236	133	28	structure	structure	NOUN
ajeer-236	133	29	of	of	ADP
ajeer-236	133	30	returns	return	NOUN
ajeer-236	133	31	.	.	PUNCT
ajeer-236	134	1	during	during	ADP
ajeer-236	134	2	the	the	DET
ajeer-236	134	3	events	event	NOUN
ajeer-236	134	4	of	of	ADP
ajeer-236	134	5	market	market	NOUN
ajeer-236	134	6	stress	stress	NOUN
ajeer-236	134	7	,	,	PUNCT
ajeer-236	134	8	etfs	etfs	PROPN
ajeer-236	134	9	will	will	AUX
ajeer-236	134	10	affect	affect	VERB
ajeer-236	134	11	the	the	DET
ajeer-236	134	12	liquidity	liquidity	NOUN
ajeer-236	134	13	of	of	ADP
ajeer-236	134	14	the	the	DET
ajeer-236	134	15	underlying	underlie	VERB
ajeer-236	134	16	portfolios	portfolio	NOUN
ajeer-236	134	17	and	and	CCONJ
ajeer-236	134	18	are	be	AUX
ajeer-236	134	19	likely	likely	ADJ
ajeer-236	134	20	to	to	PART
ajeer-236	134	21	cause	cause	VERB
ajeer-236	134	22	a	a	DET
ajeer-236	134	23	herding	herding	NOUN
ajeer-236	134	24	effect	effect	NOUN
ajeer-236	134	25	of	of	ADP
ajeer-236	134	26	a	a	DET
ajeer-236	134	27	sudden	sudden	ADJ
ajeer-236	134	28	drop	drop	NOUN
ajeer-236	134	29	in	in	ADP
ajeer-236	134	30	markets	market	NOUN
ajeer-236	134	31	.	.	PUNCT
ajeer-236	135	1	taiwan	taiwan	PROPN
ajeer-236	135	2	50	50	NUM
ajeer-236	135	3	etf	etf	NOUN
ajeer-236	135	4	(	(	PUNCT
ajeer-236	135	5	0050	0050	NUM
ajeer-236	135	6	)	)	PUNCT
ajeer-236	135	7	,	,	PUNCT
ajeer-236	135	8	issued	issue	VERB
ajeer-236	135	9	in	in	ADP
ajeer-236	135	10	2005	2005	NUM
ajeer-236	135	11	,	,	PUNCT
ajeer-236	135	12	is	be	AUX
ajeer-236	135	13	currently	currently	ADV
ajeer-236	135	14	the	the	DET
ajeer-236	135	15	largest	large	ADJ
ajeer-236	135	16	etf	etf	NOUN
ajeer-236	135	17	in	in	ADP
ajeer-236	135	18	terms	term	NOUN
ajeer-236	135	19	of	of	ADP
ajeer-236	135	20	size	size	NOUN
ajeer-236	135	21	(	(	PUNCT
ajeer-236	135	22	$	$	SYM
ajeer-236	135	23	58.6	58.6	NUM
ajeer-236	135	24	billion	billion	NUM
ajeer-236	135	25	)	)	PUNCT
ajeer-236	135	26	in	in	ADP
ajeer-236	135	27	taiwan	taiwan	PROPN
ajeer-236	135	28	.	.	PUNCT
ajeer-236	136	1	taiwan	taiwan	PROPN
ajeer-236	136	2	mid	mid	ADJ
ajeer-236	136	3	100	100	NUM
ajeer-236	136	4	(	(	PUNCT
ajeer-236	136	5	0051	0051	NUM
ajeer-236	136	6	)	)	PUNCT
ajeer-236	136	7	was	be	AUX
ajeer-236	136	8	issued	issue	VERB
ajeer-236	136	9	in	in	ADP
ajeer-236	136	10	2007	2007	NUM
ajeer-236	136	11	.	.	PUNCT
ajeer-236	137	1	the	the	DET
ajeer-236	137	2	fund	fund	NOUN
ajeer-236	137	3	size	size	NOUN
ajeer-236	137	4	is	be	AUX
ajeer-236	137	5	$	$	SYM
ajeer-236	137	6	380	380	NUM
ajeer-236	137	7	million	million	NUM
ajeer-236	137	8	.	.	PUNCT
ajeer-236	138	1	this	this	DET
ajeer-236	138	2	study	study	NOUN
ajeer-236	138	3	uses	use	VERB
ajeer-236	138	4	0050	0050	NUM
ajeer-236	138	5	and	and	CCONJ
ajeer-236	138	6	0051	0051	NUM
ajeer-236	138	7	as	as	SCONJ
ajeer-236	138	8	filters	filter	NOUN
ajeer-236	138	9	in	in	ADP
ajeer-236	138	10	the	the	DET
ajeer-236	138	11	experiments	experiment	NOUN
ajeer-236	138	12	to	to	PART
ajeer-236	138	13	examine	examine	VERB
ajeer-236	138	14	the	the	DET
ajeer-236	138	15	herding	herd	VERB
ajeer-236	138	16	behavior	behavior	NOUN
ajeer-236	138	17	of	of	ADP
ajeer-236	138	18	following	follow	VERB
ajeer-236	138	19	large	large	ADJ
ajeer-236	138	20	business	business	NOUN
ajeer-236	138	21	groups	group	NOUN
ajeer-236	138	22	.	.	PUNCT
ajeer-236	139	1	this	this	DET
ajeer-236	139	2	research	research	NOUN
ajeer-236	139	3	studies	study	VERB
ajeer-236	139	4	the	the	DET
ajeer-236	139	5	herding	herd	VERB
ajeer-236	139	6	behavior	behavior	NOUN
ajeer-236	139	7	from	from	ADP
ajeer-236	139	8	the	the	DET
ajeer-236	139	9	business	business	NOUN
ajeer-236	139	10	group	group	NOUN
ajeer-236	139	11	viewpoint	viewpoint	NOUN
ajeer-236	139	12	.	.	PUNCT
ajeer-236	140	1	past	past	ADP
ajeer-236	140	2	studies	study	NOUN
ajeer-236	140	3	typically	typically	ADV
ajeer-236	140	4	measure	measure	VERB
ajeer-236	140	5	the	the	DET
ajeer-236	140	6	degree	degree	NOUN
ajeer-236	140	7	of	of	ADP
ajeer-236	140	8	dispersion	dispersion	NOUN
ajeer-236	140	9	.	.	PUNCT
ajeer-236	141	1	in	in	ADP
ajeer-236	141	2	contrast	contrast	NOUN
ajeer-236	141	3	,	,	PUNCT
ajeer-236	141	4	this	this	DET
ajeer-236	141	5	study	study	NOUN
ajeer-236	141	6	proposes	propose	VERB
ajeer-236	141	7	a	a	DET
ajeer-236	141	8	new	new	ADJ
ajeer-236	141	9	testing	testing	NOUN
ajeer-236	141	10	method	method	NOUN
ajeer-236	141	11	by	by	ADP
ajeer-236	141	12	utilizing	utilize	VERB
ajeer-236	141	13	quantitative	quantitative	ADJ
ajeer-236	141	14	models	model	NOUN
ajeer-236	141	15	and	and	CCONJ
ajeer-236	141	16	optimal	optimal	ADJ
ajeer-236	141	17	program	program	NOUN
ajeer-236	141	18	trading	trading	NOUN
ajeer-236	141	19	to	to	PART
ajeer-236	141	20	test	test	VERB
ajeer-236	141	21	the	the	DET
ajeer-236	141	22	following	follow	VERB
ajeer-236	141	23	two	two	NUM
ajeer-236	141	24	hypotheses	hypothesis	NOUN
ajeer-236	141	25	.	.	PUNCT
ajeer-236	142	1	the	the	DET
ajeer-236	142	2	first	first	ADJ
ajeer-236	142	3	hypothesis	hypothesis	NOUN
ajeer-236	142	4	is	be	AUX
ajeer-236	142	5	that	that	SCONJ
ajeer-236	142	6	including	include	VERB
ajeer-236	142	7	the	the	DET
ajeer-236	142	8	price	price	NOUN
ajeer-236	142	9	information	information	NOUN
ajeer-236	142	10	of	of	ADP
ajeer-236	142	11	leading	lead	VERB
ajeer-236	142	12	company	company	NOUN
ajeer-236	142	13	should	should	AUX
ajeer-236	142	14	lower	lower	VERB
ajeer-236	142	15	the	the	DET
ajeer-236	142	16	impact	impact	NOUN
ajeer-236	142	17	of	of	ADP
ajeer-236	142	18	selling	sell	VERB
ajeer-236	142	19	news	news	NOUN
ajeer-236	142	20	on	on	ADP
ajeer-236	142	21	investors	investor	NOUN
ajeer-236	142	22	.	.	PUNCT
ajeer-236	143	1	the	the	DET
ajeer-236	143	2	first	first	ADJ
ajeer-236	143	3	hypothesis	hypothesis	NOUN
ajeer-236	143	4	is	be	AUX
ajeer-236	143	5	tested	test	VERB
ajeer-236	143	6	in	in	ADP
ajeer-236	143	7	two	two	NUM
ajeer-236	143	8	steps	step	NOUN
ajeer-236	143	9	with	with	ADP
ajeer-236	143	10	an	an	DET
ajeer-236	143	11	attempt	attempt	NOUN
ajeer-236	143	12	to	to	PART
ajeer-236	143	13	find	find	VERB
ajeer-236	143	14	a	a	DET
ajeer-236	143	15	stabilized	stabilize	VERB
ajeer-236	143	16	investment	investment	NOUN
ajeer-236	143	17	strategy	strategy	NOUN
ajeer-236	143	18	for	for	ADP
ajeer-236	143	19	trading	trading	NOUN
ajeer-236	143	20	family	family	NOUN
ajeer-236	143	21	business	business	NOUN
ajeer-236	143	22	groups‟	groups‟	PROPN
ajeer-236	143	23	stocks	stock	NOUN
ajeer-236	143	24	.	.	PUNCT
ajeer-236	144	1	the	the	DET
ajeer-236	144	2	second	second	ADJ
ajeer-236	144	3	hypothesis	hypothesis	NOUN
ajeer-236	144	4	tests	test	NOUN
ajeer-236	144	5	if	if	SCONJ
ajeer-236	144	6	the	the	DET
ajeer-236	144	7	trading	trading	NOUN
ajeer-236	144	8	performance	performance	NOUN
ajeer-236	144	9	can	can	AUX
ajeer-236	144	10	be	be	AUX
ajeer-236	144	11	enhanced	enhance	VERB
ajeer-236	144	12	using	use	VERB
ajeer-236	144	13	technical	technical	ADJ
ajeer-236	144	14	analyzes	analyze	NOUN
ajeer-236	144	15	by	by	ADP
ajeer-236	144	16	including	include	VERB
ajeer-236	144	17	the	the	DET
ajeer-236	144	18	leading	lead	VERB
ajeer-236	144	19	company	company	NOUN
ajeer-236	144	20	of	of	ADP
ajeer-236	144	21	the	the	DET
ajeer-236	144	22	family	family	NOUN
ajeer-236	144	23	business	business	NOUN
ajeer-236	144	24	group	group	NOUN
ajeer-236	144	25	.	.	PUNCT
ajeer-236	145	1	the	the	DET
ajeer-236	145	2	second	second	ADJ
ajeer-236	145	3	hypothesis	hypothesis	NOUN
ajeer-236	145	4	can	can	AUX
ajeer-236	145	5	also	also	ADV
ajeer-236	145	6	indirectly	indirectly	ADV
ajeer-236	145	7	prove	prove	VERB
ajeer-236	145	8	the	the	DET
ajeer-236	145	9	existence	existence	NOUN
ajeer-236	145	10	of	of	ADP
ajeer-236	145	11	herding	herd	VERB
ajeer-236	145	12	behavior	behavior	NOUN
ajeer-236	145	13	in	in	ADP
ajeer-236	145	14	business	business	NOUN
ajeer-236	145	15	groups	group	NOUN
ajeer-236	145	16	.	.	PUNCT
ajeer-236	146	1	3	3	X
ajeer-236	146	2	.	.	X
ajeer-236	146	3	research	research	NOUN
ajeer-236	146	4	methods	method	NOUN
ajeer-236	146	5	3.1	3.1	NUM
ajeer-236	146	6	.	.	PUNCT
ajeer-236	147	1	theoretical	theoretical	ADJ
ajeer-236	147	2	models	model	NOUN
ajeer-236	147	3	and	and	CCONJ
ajeer-236	147	4	estimation	estimation	NOUN
ajeer-236	147	5	methods	method	NOUN
ajeer-236	147	6	of	of	ADP
ajeer-236	147	7	var	var	NOUN
ajeer-236	147	8	and	and	CCONJ
ajeer-236	147	9	granger	granger	PROPN
ajeer-236	147	10	causality	causality	PROPN
ajeer-236	147	11	the	the	DET
ajeer-236	147	12	traditional	traditional	ADJ
ajeer-236	147	13	test	test	NOUN
ajeer-236	147	14	of	of	ADP
ajeer-236	147	15	herding	herd	VERB
ajeer-236	147	16	effect	effect	NOUN
ajeer-236	147	17	measures	measure	VERB
ajeer-236	147	18	the	the	DET
ajeer-236	147	19	degree	degree	NOUN
ajeer-236	147	20	of	of	ADP
ajeer-236	147	21	dispersion	dispersion	NOUN
ajeer-236	147	22	.	.	PUNCT
ajeer-236	148	1	however	however	ADV
ajeer-236	148	2	,	,	PUNCT
ajeer-236	148	3	this	this	DET
ajeer-236	148	4	method	method	NOUN
ajeer-236	148	5	requires	require	VERB
ajeer-236	148	6	internal	internal	ADJ
ajeer-236	148	7	trading	trading	NOUN
ajeer-236	148	8	data	datum	NOUN
ajeer-236	148	9	.	.	PUNCT
ajeer-236	149	1	due	due	ADJ
ajeer-236	149	2	the	the	DET
ajeer-236	149	3	data	data	NOUN
ajeer-236	149	4	collection	collection	NOUN
ajeer-236	149	5	problem	problem	NOUN
ajeer-236	149	6	,	,	PUNCT
ajeer-236	149	7	this	this	DET
ajeer-236	149	8	study	study	NOUN
ajeer-236	149	9	uses	use	VERB
ajeer-236	149	10	econometric	econometric	ADJ
ajeer-236	149	11	methods	method	NOUN
ajeer-236	149	12	to	to	PART
ajeer-236	149	13	examine	examine	VERB
ajeer-236	149	14	herding	herding	NOUN
ajeer-236	149	15	effect	effect	NOUN
ajeer-236	149	16	,	,	PUNCT
ajeer-236	149	17	the	the	DET
ajeer-236	149	18	testing	testing	NOUN
ajeer-236	149	19	methods	method	NOUN
ajeer-236	149	20	are	be	AUX
ajeer-236	149	21	as	as	SCONJ
ajeer-236	149	22	follows	follow	VERB
ajeer-236	149	23	:	:	PUNCT
ajeer-236	149	24	(	(	PUNCT
ajeer-236	149	25	1	1	X
ajeer-236	149	26	)	)	PUNCT
ajeer-236	149	27	examining	examine	VERB
ajeer-236	149	28	if	if	SCONJ
ajeer-236	149	29	unit	unit	NOUN
ajeer-236	149	30	roots	root	NOUN
ajeer-236	149	31	exist	exist	VERB
ajeer-236	149	32	;	;	PUNCT
ajeer-236	149	33	(	(	PUNCT
ajeer-236	149	34	2	2	X
ajeer-236	149	35	)	)	PUNCT
ajeer-236	149	36	testing	testing	NOUN
ajeer-236	149	37	if	if	SCONJ
ajeer-236	149	38	the	the	DET
ajeer-236	149	39	model	model	NOUN
ajeer-236	149	40	has	have	VERB
ajeer-236	149	41	co	co	NOUN
ajeer-236	149	42	-	-	NOUN
ajeer-236	149	43	integration	integration	NOUN
ajeer-236	149	44	;	;	PUNCT
ajeer-236	149	45	(	(	PUNCT
ajeer-236	149	46	3	3	X
ajeer-236	149	47	)	)	PUNCT
ajeer-236	149	48	testing	test	VERB
ajeer-236	149	49	the	the	DET
ajeer-236	149	50	causal	causal	ADJ
ajeer-236	149	51	relationship	relationship	NOUN
ajeer-236	149	52	between	between	ADP
ajeer-236	149	53	variables	variable	NOUN
ajeer-236	149	54	in	in	ADP
ajeer-236	149	55	the	the	DET
ajeer-236	149	56	model	model	NOUN
ajeer-236	149	57	;	;	PUNCT
ajeer-236	149	58	(	(	PUNCT
ajeer-236	149	59	4	4	X
ajeer-236	149	60	)	)	PUNCT
ajeer-236	149	61	using	use	VERB
ajeer-236	149	62	the	the	DET
ajeer-236	149	63	variable	variable	NOUN
ajeer-236	149	64	that	that	PRON
ajeer-236	149	65	has	have	VERB
ajeer-236	149	66	the	the	DET
ajeer-236	149	67	strongest	strong	ADJ
ajeer-236	149	68	causal	causal	ADJ
ajeer-236	149	69	relationship	relationship	NOUN
ajeer-236	149	70	as	as	ADP
ajeer-236	149	71	the	the	DET
ajeer-236	149	72	leading	lead	VERB
ajeer-236	149	73	company	company	NOUN
ajeer-236	149	74	and	and	CCONJ
ajeer-236	149	75	using	use	VERB
ajeer-236	149	76	program	program	NOUN
ajeer-236	149	77	trading	trading	NOUN
ajeer-236	149	78	experiments	experiment	NOUN
ajeer-236	149	79	to	to	PART
ajeer-236	149	80	test	test	VERB
ajeer-236	149	81	if	if	SCONJ
ajeer-236	149	82	the	the	DET
ajeer-236	149	83	herding	herding	NOUN
ajeer-236	149	84	effect	effect	NOUN
ajeer-236	149	85	exists	exist	VERB
ajeer-236	149	86	.	.	PUNCT
ajeer-236	150	1	engle	engle	PROPN
ajeer-236	150	2	and	and	CCONJ
ajeer-236	150	3	granger	granger	PROPN
ajeer-236	150	4	(	(	PUNCT
ajeer-236	150	5	1987	1987	NUM
ajeer-236	150	6	)	)	PUNCT
ajeer-236	150	7	suggest	suggest	VERB
ajeer-236	150	8	that	that	SCONJ
ajeer-236	150	9	one	one	NUM
ajeer-236	150	10	important	important	ADJ
ajeer-236	150	11	function	function	NOUN
ajeer-236	150	12	of	of	ADP
ajeer-236	150	13	var	var	NOUN
ajeer-236	150	14	model	model	NOUN
ajeer-236	150	15	is	be	AUX
ajeer-236	150	16	to	to	PART
ajeer-236	150	17	use	use	VERB
ajeer-236	150	18	co	co	ADJ
ajeer-236	150	19	-	-	NOUN
ajeer-236	150	20	integration	integration	NOUN
ajeer-236	150	21	relationship	relationship	NOUN
ajeer-236	150	22	as	as	ADP
ajeer-236	150	23	a	a	DET
ajeer-236	150	24	restriction	restriction	NOUN
ajeer-236	150	25	in	in	ADP
ajeer-236	150	26	var	var	PROPN
ajeer-236	150	27	model	model	NOUN
ajeer-236	150	28	to	to	PART
ajeer-236	150	29	examine	examine	VERB
ajeer-236	150	30	long	long	ADJ
ajeer-236	150	31	-	-	PUNCT
ajeer-236	150	32	term	term	NOUN
ajeer-236	150	33	dynamic	dynamic	ADJ
ajeer-236	150	34	relationships	relationship	NOUN
ajeer-236	150	35	between	between	ADP
ajeer-236	150	36	variables	variable	NOUN
ajeer-236	150	37	in	in	ADP
ajeer-236	150	38	the	the	DET
ajeer-236	150	39	model	model	NOUN
ajeer-236	150	40	.	.	PUNCT
ajeer-236	151	1	later	later	ADV
ajeer-236	151	2	,	,	PUNCT
ajeer-236	151	3	johansen	johansen	PROPN
ajeer-236	151	4	and	and	CCONJ
ajeer-236	151	5	juselius	juselius	PROPN
ajeer-236	151	6	(	(	PUNCT
ajeer-236	151	7	1988	1988	NUM
ajeer-236	151	8	)	)	PUNCT
ajeer-236	151	9	and	and	CCONJ
ajeer-236	151	10	johansen	johansen	PROPN
ajeer-236	151	11	(	(	PUNCT
ajeer-236	151	12	1991	1991	NUM
ajeer-236	151	13	)	)	PUNCT
ajeer-236	151	14	propose	propose	VERB
ajeer-236	151	15	a	a	DET
ajeer-236	151	16	co	co	NOUN
ajeer-236	151	17	-	-	NOUN
ajeer-236	151	18	integration	integration	NOUN
ajeer-236	151	19	test	test	NOUN
ajeer-236	151	20	for	for	ADP
ajeer-236	151	21	multi	multi	NOUN
ajeer-236	151	22	-	-	NOUN
ajeer-236	151	23	variables	variable	NOUN
ajeer-236	151	24	,	,	PUNCT
ajeer-236	151	25	var(p	var(p	PROPN
ajeer-236	151	26	)	)	PUNCT
ajeer-236	151	27	,	,	PUNCT
ajeer-236	151	28	which	which	PRON
ajeer-236	151	29	is	be	AUX
ajeer-236	151	30	outlined	outline	VERB
ajeer-236	151	31	below	below	ADV
ajeer-236	151	32	:	:	PUNCT
ajeer-236	151	33	tptpttt	tptpttt	PROPN
ajeer-236	151	34	uyyycy	uyyycy	PROPN
ajeer-236	151	35			X
ajeer-236	151	36			NOUN
ajeer-236	151	37	...	...	PUNCT
ajeer-236	151	38	2211	2211	NUM
ajeer-236	151	39	…	…	PUNCT
ajeer-236	151	40	…	…	SYM
ajeer-236	151	41	……	……	X
ajeer-236	151	42	(	(	PUNCT
ajeer-236	151	43	1	1	X
ajeer-236	151	44	)	)	PUNCT
ajeer-236	151	45	where	where	SCONJ
ajeer-236	151	46	'	'	PUNCT
ajeer-236	151	47	1	1	NUM
ajeer-236	151	48	)	)	PUNCT
ajeer-236	151	49	...	...	PUNCT
ajeer-236	151	50	(	(	PUNCT
ajeer-236	151	51	nttt	nttt	NOUN
ajeer-236	151	52	yyy	yyy	PROPN
ajeer-236	151	53			PROPN
ajeer-236	151	54	and	and	CCONJ
ajeer-236	151	55	hypothesize	hypothesize	VERB
ajeer-236	151	56	)	)	PUNCT
ajeer-236	151	57	1(~	1(~	PROPN
ajeer-236	151	58	iyt	iyt	NOUN
ajeer-236	151	59	.	.	PUNCT
ajeer-236	152	1	after	after	ADP
ajeer-236	152	2	transformation	transformation	NOUN
ajeer-236	152	3	,	,	PUNCT
ajeer-236	152	4	var(p	var(p	PROPN
ajeer-236	152	5	)	)	PUNCT
ajeer-236	152	6	in	in	ADP
ajeer-236	152	7	equation	equation	NOUN
ajeer-236	152	8	(	(	PUNCT
ajeer-236	152	9	1	1	X
ajeer-236	152	10	)	)	PUNCT
ajeer-236	152	11	can	can	AUX
ajeer-236	152	12	be	be	AUX
ajeer-236	152	13	represented	represent	VERB
ajeer-236	152	14	as	as	ADP
ajeer-236	152	15	the	the	DET
ajeer-236	152	16	following	following	NOUN
ajeer-236	152	17	:	:	PUNCT
ajeer-236	152	18	uyyyycy	uyyyycy	NOUN
ajeer-236	152	19	ptptpttt	ptptpttt	NOUN
ajeer-236	152	20			NOUN
ajeer-236	152	21			NOUN
ajeer-236	152	22	112211	112211	NUM
ajeer-236	152	23	...	...	PUNCT
ajeer-236	153	1	…	…	PUNCT
ajeer-236	153	2	…	…	PUNCT
ajeer-236	153	3	…	…	SYM
ajeer-236	153	4	……	……	NOUN
ajeer-236	153	5	.	.	PUNCT
ajeer-236	154	1	(	(	PUNCT
ajeer-236	154	2	2	2	X
ajeer-236	154	3	)	)	PUNCT
ajeer-236	154	4	asian	asian	ADJ
ajeer-236	154	5	journal	journal	NOUN
ajeer-236	154	6	of	of	ADP
ajeer-236	154	7	economics	economic	NOUN
ajeer-236	154	8	and	and	CCONJ
ajeer-236	154	9	empirical	empirical	ADJ
ajeer-236	154	10	research	research	NOUN
ajeer-236	154	11	,	,	PUNCT
ajeer-236	154	12	2017	2017	NUM
ajeer-236	154	13	,	,	PUNCT
ajeer-236	154	14	4(2	4(2	NUM
ajeer-236	154	15	):	):	PUNCT
ajeer-236	154	16	106	106	NUM
ajeer-236	154	17	-	-	SYM
ajeer-236	154	18	120	120	NUM
ajeer-236	154	19	109	109	NUM
ajeer-236	154	20	where	where	SCONJ
ajeer-236	154	21	,	,	PUNCT
ajeer-236	154	22	...	...	PUNCT
ajeer-236	154	23	1,	1,	NUM
ajeer-236	154	24	...	...	SYM
ajeer-236	154	25	1	1	NUM
ajeer-236	154	26	pii	pii	PROPN
ajeer-236	154	27	ii	ii	NOUN
ajeer-236	154	28			NOUN
ajeer-236	154	29	and	and	CCONJ
ajeer-236	154	30	pi	pi	PROPN
ajeer-236	154	31			PROPN
ajeer-236	154	32	...	...	PUNCT
ajeer-236	154	33	1	1	NUM
ajeer-236	154	34	in	in	ADP
ajeer-236	154	35	equation	equation	NOUN
ajeer-236	154	36	(	(	PUNCT
ajeer-236	154	37	2	2	NUM
ajeer-236	154	38	)	)	PUNCT
ajeer-236	154	39	,	,	PUNCT
ajeer-236	154	40	apart	apart	ADV
ajeer-236	154	41	from	from	ADP
ajeer-236	154	42	pty	pty	NOUN
ajeer-236	154	43			NOUN
ajeer-236	154	44	,	,	PUNCT
ajeer-236	154	45	all	all	DET
ajeer-236	154	46	other	other	ADJ
ajeer-236	154	47	variables	variable	NOUN
ajeer-236	154	48	are	be	AUX
ajeer-236	154	49	stationary	stationary	ADJ
ajeer-236	154	50	.	.	PUNCT
ajeer-236	155	1	therefore	therefore	ADV
ajeer-236	155	2	,	,	PUNCT
ajeer-236	155	3	similar	similar	ADJ
ajeer-236	155	4	to	to	ADP
ajeer-236	155	5	var(1	var(1	PROPN
ajeer-236	155	6	)	)	PUNCT
ajeer-236	155	7	,	,	PUNCT
ajeer-236	155	8	the	the	DET
ajeer-236	155	9	compressed	compress	VERB
ajeer-236	155	10	matrix	matrix	NOUN
ajeer-236	155	11			PROPN
ajeer-236	155	12	before	before	SCONJ
ajeer-236	155	13	vector	vector	NOUN
ajeer-236	155	14	pty	pty	PROPN
ajeer-236	155	15			PROPN
ajeer-236	155	16	can	can	AUX
ajeer-236	155	17	be	be	AUX
ajeer-236	155	18	used	use	VERB
ajeer-236	155	19	to	to	PART
ajeer-236	155	20	test	test	VERB
ajeer-236	155	21	the	the	DET
ajeer-236	155	22	co	co	NOUN
ajeer-236	155	23	-	-	NOUN
ajeer-236	155	24	integration	integration	NOUN
ajeer-236	155	25	relationship	relationship	NOUN
ajeer-236	155	26	between	between	ADP
ajeer-236	155	27	variables	variable	NOUN
ajeer-236	155	28	.	.	PUNCT
ajeer-236	156	1	if	if	SCONJ
ajeer-236	156	2	the	the	DET
ajeer-236	156	3	rank	rank	NOUN
ajeer-236	156	4	of	of	ADP
ajeer-236	156	5	coefficient	coefficient	NOUN
ajeer-236	156	6	matrix	matrix	NOUN
ajeer-236	156	7			PROPN
ajeer-236	156	8	is	be	AUX
ajeer-236	156	9	nrrk	nrrk	ADJ
ajeer-236	156	10			PROPN
ajeer-236	156	11	,	,	PUNCT
ajeer-236	156	12	then	then	ADV
ajeer-236	156	13	there	there	PRON
ajeer-236	156	14	exists	exist	VERB
ajeer-236	156	15	an	an	DET
ajeer-236	156	16	adjacency	adjacency	NOUN
ajeer-236	156	17	matrix	matrix	NOUN
ajeer-236	156	18	(	(	PUNCT
ajeer-236	156	19	rn	rn	NOUN
ajeer-236	156	20	)	)	PUNCT
ajeer-236	156	21			X
ajeer-236	156	22	and	and	CCONJ
ajeer-236	156	23			PROPN
ajeer-236	156	24	.	.	PUNCT
ajeer-236	157	1	as	as	SCONJ
ajeer-236	157	2	their	their	PRON
ajeer-236	157	3	ranks	rank	NOUN
ajeer-236	157	4	are	be	AUX
ajeer-236	157	5	both	both	PRON
ajeer-236	157	6	r	r	NOUN
ajeer-236	157	7	,	,	PUNCT
ajeer-236	157	8	this	this	PRON
ajeer-236	157	9	means	mean	VERB
ajeer-236	157	10	'	'	PUNCT
ajeer-236	157	11			PROPN
ajeer-236	157	12	and	and	CCONJ
ajeer-236	157	13	ptt	ptt	PROPN
ajeer-236	157	14			PROPN
ajeer-236	157	15	'	'	PUNCT
ajeer-236	157	16			NOUN
ajeer-236	157	17	is	be	AUX
ajeer-236	157	18	stationary	stationary	ADJ
ajeer-236	157	19	with	with	ADP
ajeer-236	157	20	)	)	PUNCT
ajeer-236	157	21	0(~	0(~	PROPN
ajeer-236	157	22	'	'	PUNCT
ajeer-236	157	23	it	it	PRON
ajeer-236	157	24	pt	pt	ADV
ajeer-236	157	25	.	.	PUNCT
ajeer-236	158	1			NOUN
ajeer-236	158	2	is	be	AUX
ajeer-236	158	3	a	a	DET
ajeer-236	158	4	co	co	ADJ
ajeer-236	158	5	-	-	ADJ
ajeer-236	158	6	integrated	integrate	VERB
ajeer-236	158	7	parameter	parameter	NOUN
ajeer-236	158	8	matrix	matrix	NOUN
ajeer-236	158	9	that	that	PRON
ajeer-236	158	10	reflects	reflect	VERB
ajeer-236	158	11	the	the	DET
ajeer-236	158	12	long	long	ADJ
ajeer-236	158	13	-	-	PUNCT
ajeer-236	158	14	term	term	NOUN
ajeer-236	158	15	relationship	relationship	NOUN
ajeer-236	158	16	between	between	ADP
ajeer-236	158	17	variables	variable	NOUN
ajeer-236	158	18	.	.	PUNCT
ajeer-236	159	1			X
ajeer-236	159	2	is	be	AUX
ajeer-236	159	3	an	an	DET
ajeer-236	159	4	adjusted	adjusted	ADJ
ajeer-236	159	5	coefficient	coefficient	NOUN
ajeer-236	159	6	matrix	matrix	NOUN
ajeer-236	159	7	that	that	PRON
ajeer-236	159	8	reflects	reflect	VERB
ajeer-236	159	9	the	the	DET
ajeer-236	159	10	shortterm	shortterm	PROPN
ajeer-236	159	11	imbalance	imbalance	NOUN
ajeer-236	159	12	adjustment	adjustment	NOUN
ajeer-236	159	13	of	of	ADP
ajeer-236	159	14	this	this	DET
ajeer-236	159	15	period‟s	period‟s	NOUN
ajeer-236	159	16	variable	variable	NOUN
ajeer-236	159	17	from	from	ADP
ajeer-236	159	18	last	last	ADJ
ajeer-236	159	19	period	period	NOUN
ajeer-236	159	20	.	.	PUNCT
ajeer-236	160	1	one	one	NUM
ajeer-236	160	2	method	method	NOUN
ajeer-236	160	3	of	of	ADP
ajeer-236	160	4	co	co	NOUN
ajeer-236	160	5	-	-	NOUN
ajeer-236	160	6	integration	integration	NOUN
ajeer-236	160	7	test	test	NOUN
ajeer-236	160	8	proposed	propose	VERB
ajeer-236	160	9	by	by	ADP
ajeer-236	160	10	johansen	johansen	PROPN
ajeer-236	160	11	is	be	AUX
ajeer-236	160	12	the	the	DET
ajeer-236	160	13	trace	trace	NOUN
ajeer-236	160	14	test	test	NOUN
ajeer-236	160	15	,	,	PUNCT
ajeer-236	160	16	which	which	PRON
ajeer-236	160	17	can	can	AUX
ajeer-236	160	18	be	be	AUX
ajeer-236	160	19	calculated	calculate	VERB
ajeer-236	160	20	as	as	SCONJ
ajeer-236	160	21	follows	follow	VERB
ajeer-236	160	22	:	:	PUNCT
ajeer-236	160	23	)	)	PUNCT
ajeer-236	160	24	1	1	X
ajeer-236	160	25	(	(	PUNCT
ajeer-236	160	26	*	*	NOUN
ajeer-236	160	27	1	1	NUM
ajeer-236	160	28			X
ajeer-236	160	29			PUNCT
ajeer-236	160	30			ADJ
ajeer-236	160	31	n	n	ADP
ajeer-236	160	32	ri	ri	PROPN
ajeer-236	160	33	ir	ir	PROPN
ajeer-236	160	34	lntlr	lntlr	PROPN
ajeer-236	160	35			PROPN
ajeer-236	160	36	..............................	..............................	PUNCT
ajeer-236	160	37	(	(	PUNCT
ajeer-236	160	38	3	3	NUM
ajeer-236	160	39	)	)	PUNCT
ajeer-236	160	40	where	where	SCONJ
ajeer-236	160	41	i	i	PROPN
ajeer-236	160	42	is	be	AUX
ajeer-236	160	43	the	the	DET
ajeer-236	160	44	eigenvalue	eigenvalue	NOUN
ajeer-236	160	45	of	of	ADP
ajeer-236	160	46	a	a	DET
ajeer-236	160	47	certain	certain	ADJ
ajeer-236	160	48	matrix	matrix	NOUN
ajeer-236	160	49	arisen	arise	VERB
ajeer-236	160	50	from	from	ADP
ajeer-236	160	51	the	the	DET
ajeer-236	160	52	testing	testing	NOUN
ajeer-236	160	53	process	process	NOUN
ajeer-236	160	54	.	.	PUNCT
ajeer-236	161	1	the	the	DET
ajeer-236	161	2	second	second	ADJ
ajeer-236	161	3	method	method	NOUN
ajeer-236	161	4	is	be	AUX
ajeer-236	161	5	to	to	PART
ajeer-236	161	6	use	use	VERB
ajeer-236	161	7	the	the	DET
ajeer-236	161	8	maximum	maximum	PROPN
ajeer-236	161	9	eigenvalue	eigenvalue	PROPN
ajeer-236	161	10	test	test	NOUN
ajeer-236	161	11	,	,	PUNCT
ajeer-236	161	12	which	which	PRON
ajeer-236	161	13	can	can	AUX
ajeer-236	161	14	is	be	AUX
ajeer-236	161	15	calculated	calculate	VERB
ajeer-236	161	16	as	as	SCONJ
ajeer-236	161	17	follows	follow	VERB
ajeer-236	161	18	:	:	PUNCT
ajeer-236	161	19	)	)	PUNCT
ajeer-236	161	20	1(*max	1(*max	NUM
ajeer-236	161	21	rlntlr	rlntlr	ADJ
ajeer-236	161	22			NOUN
ajeer-236	161	23	................................	................................	PUNCT
ajeer-236	161	24	(	(	PUNCT
ajeer-236	161	25	4	4	NUM
ajeer-236	161	26	)	)	PUNCT
ajeer-236	161	27	where	where	SCONJ
ajeer-236	161	28	i	i	PROPN
ajeer-236	161	29	is	be	AUX
ajeer-236	161	30	the	the	DET
ajeer-236	161	31	maximum	maximum	PROPN
ajeer-236	161	32	eigenvalue	eigenvalue	PROPN
ajeer-236	161	33	.	.	PUNCT
ajeer-236	162	1	based	base	VERB
ajeer-236	162	2	on	on	ADP
ajeer-236	162	3	the	the	DET
ajeer-236	162	4	feature	feature	NOUN
ajeer-236	162	5	of	of	ADP
ajeer-236	162	6	time	time	NOUN
ajeer-236	162	7	series	series	NOUN
ajeer-236	162	8	(	(	PUNCT
ajeer-236	162	9	with	with	ADP
ajeer-236	162	10	or	or	CCONJ
ajeer-236	162	11	without	without	ADP
ajeer-236	162	12	trend	trend	NOUN
ajeer-236	162	13	and	and	CCONJ
ajeer-236	162	14	linearity	linearity	NOUN
ajeer-236	162	15	or	or	CCONJ
ajeer-236	162	16	secondary	secondary	ADJ
ajeer-236	162	17	type	type	NOUN
ajeer-236	162	18	)	)	PUNCT
ajeer-236	162	19	and	and	CCONJ
ajeer-236	162	20	the	the	DET
ajeer-236	162	21	form	form	NOUN
ajeer-236	162	22	of	of	ADP
ajeer-236	162	23	cointegration	cointegration	NOUN
ajeer-236	162	24	equation	equation	NOUN
ajeer-236	162	25	(	(	PUNCT
ajeer-236	162	26	ce	ce	PROPN
ajeer-236	162	27	)	)	PUNCT
ajeer-236	162	28	and	and	CCONJ
ajeer-236	162	29	var	var	NOUN
ajeer-236	162	30	,	,	PUNCT
ajeer-236	162	31	johansen	johansen	PROPN
ajeer-236	162	32	co	co	PROPN
ajeer-236	162	33	-	-	NOUN
ajeer-236	162	34	integration	integration	NOUN
ajeer-236	162	35	test	test	NOUN
ajeer-236	162	36	can	can	AUX
ajeer-236	162	37	be	be	AUX
ajeer-236	162	38	checked	check	VERB
ajeer-236	162	39	one	one	NUM
ajeer-236	162	40	by	by	ADP
ajeer-236	162	41	one.5	one.5	ADJ
ajeer-236	162	42	3.2	3.2	NUM
ajeer-236	162	43	.	.	PUNCT
ajeer-236	163	1	theoretical	theoretical	ADJ
ajeer-236	163	2	model	model	NOUN
ajeer-236	163	3	and	and	CCONJ
ajeer-236	163	4	estimation	estimation	NOUN
ajeer-236	163	5	method	method	NOUN
ajeer-236	163	6	of	of	ADP
ajeer-236	163	7	egarch	egarch	NOUN
ajeer-236	163	8	past	past	PROPN
ajeer-236	163	9	research	research	NOUN
ajeer-236	163	10	often	often	ADV
ajeer-236	163	11	uses	use	VERB
ajeer-236	163	12	garch	garch	NOUN
ajeer-236	163	13	models	model	NOUN
ajeer-236	163	14	to	to	PART
ajeer-236	163	15	test	test	VERB
ajeer-236	163	16	stock	stock	NOUN
ajeer-236	163	17	market	market	NOUN
ajeer-236	163	18	volatility	volatility	NOUN
ajeer-236	163	19	.	.	PUNCT
ajeer-236	164	1	however	however	ADV
ajeer-236	164	2	,	,	PUNCT
ajeer-236	164	3	as	as	SCONJ
ajeer-236	164	4	many	many	ADJ
ajeer-236	164	5	time	time	NOUN
ajeer-236	164	6	series	series	PROPN
ajeer-236	164	7	data	datum	NOUN
ajeer-236	164	8	in	in	ADP
ajeer-236	164	9	the	the	DET
ajeer-236	164	10	financial	financial	ADJ
ajeer-236	164	11	market	market	NOUN
ajeer-236	164	12	do	do	AUX
ajeer-236	164	13	not	not	PART
ajeer-236	164	14	have	have	VERB
ajeer-236	164	15	normal	normal	ADJ
ajeer-236	164	16	distribution	distribution	NOUN
ajeer-236	164	17	or	or	CCONJ
ajeer-236	164	18	do	do	AUX
ajeer-236	164	19	not	not	PART
ajeer-236	164	20	meet	meet	VERB
ajeer-236	164	21	the	the	DET
ajeer-236	164	22	traditional	traditional	ADJ
ajeer-236	164	23	requirement	requirement	NOUN
ajeer-236	164	24	of	of	ADP
ajeer-236	164	25	homoscedasticity	homoscedasticity	NOUN
ajeer-236	164	26	and	and	CCONJ
ajeer-236	164	27	have	have	VERB
ajeer-236	164	28	fat	fat	ADJ
ajeer-236	164	29	tails	tail	NOUN
ajeer-236	164	30	and	and	CCONJ
ajeer-236	164	31	volatility	volatility	NOUN
ajeer-236	164	32	cluster	cluster	NOUN
ajeer-236	164	33	,	,	PUNCT
ajeer-236	164	34	bollerslev	bollerslev	NOUN
ajeer-236	164	35	(	(	PUNCT
ajeer-236	164	36	1986	1986	NUM
ajeer-236	164	37	)	)	PUNCT
ajeer-236	164	38	builds	build	VERB
ajeer-236	164	39	a	a	DET
ajeer-236	164	40	garch	garch	NOUN
ajeer-236	164	41	model	model	NOUN
ajeer-236	164	42	based	base	VERB
ajeer-236	164	43	on	on	ADP
ajeer-236	164	44	arch	arch	NOUN
ajeer-236	164	45	.	.	PUNCT
ajeer-236	165	1	it	it	PRON
ajeer-236	165	2	has	have	AUX
ajeer-236	165	3	become	become	VERB
ajeer-236	165	4	a	a	DET
ajeer-236	165	5	common	common	ADJ
ajeer-236	165	6	method	method	NOUN
ajeer-236	165	7	of	of	ADP
ajeer-236	165	8	testing	test	VERB
ajeer-236	165	9	the	the	DET
ajeer-236	165	10	volatility	volatility	NOUN
ajeer-236	165	11	in	in	ADP
ajeer-236	165	12	stock	stock	NOUN
ajeer-236	165	13	market	market	NOUN
ajeer-236	165	14	returns	return	NOUN
ajeer-236	165	15	.	.	PUNCT
ajeer-236	166	1	the	the	DET
ajeer-236	166	2	econometrists	econometrist	NOUN
ajeer-236	166	3	continue	continue	VERB
ajeer-236	166	4	to	to	PART
ajeer-236	166	5	modify	modify	VERB
ajeer-236	166	6	the	the	DET
ajeer-236	166	7	garch	garch	NOUN
ajeer-236	166	8	model	model	NOUN
ajeer-236	166	9	.	.	PUNCT
ajeer-236	167	1	nelson	nelson	PROPN
ajeer-236	167	2	(	(	PUNCT
ajeer-236	167	3	1991	1991	NUM
ajeer-236	167	4	)	)	PUNCT
ajeer-236	167	5	then	then	ADV
ajeer-236	167	6	proposes	propose	VERB
ajeer-236	167	7	an	an	DET
ajeer-236	167	8	egarch	egarch	NOUN
ajeer-236	167	9	model	model	NOUN
ajeer-236	167	10	.	.	PUNCT
ajeer-236	168	1	compared	compare	VERB
ajeer-236	168	2	to	to	ADP
ajeer-236	168	3	garch	garch	NOUN
ajeer-236	168	4	models	model	NOUN
ajeer-236	168	5	which	which	PRON
ajeer-236	168	6	have	have	VERB
ajeer-236	168	7	restrictions	restriction	NOUN
ajeer-236	168	8	on	on	ADP
ajeer-236	168	9	coefficients	coefficient	NOUN
ajeer-236	168	10	,	,	PUNCT
ajeer-236	168	11	egarch	egarch	NOUN
ajeer-236	168	12	(	(	PUNCT
ajeer-236	168	13	1	1	NUM
ajeer-236	168	14	,	,	PUNCT
ajeer-236	168	15	1	1	NUM
ajeer-236	168	16	)	)	PUNCT
ajeer-236	168	17	can	can	AUX
ajeer-236	168	18	give	give	VERB
ajeer-236	168	19	more	more	ADV
ajeer-236	168	20	appropriate	appropriate	ADJ
ajeer-236	168	21	conditional	conditional	ADJ
ajeer-236	168	22	variance	variance	NOUN
ajeer-236	168	23	and	and	CCONJ
ajeer-236	168	24	better	well	ADV
ajeer-236	168	25	reflect	reflect	VERB
ajeer-236	168	26	the	the	DET
ajeer-236	168	27	volatility	volatility	NOUN
ajeer-236	168	28	in	in	ADP
ajeer-236	168	29	market	market	NOUN
ajeer-236	168	30	returns	return	NOUN
ajeer-236	168	31	.	.	PUNCT
ajeer-236	169	1	the	the	DET
ajeer-236	169	2	egarch	egarch	NOUN
ajeer-236	169	3	model	model	NOUN
ajeer-236	169	4	is	be	AUX
ajeer-236	169	5	provided	provide	VERB
ajeer-236	169	6	below	below	ADV
ajeer-236	169	7	:	:	PUNCT
ajeer-236	169	8	mean	mean	VERB
ajeer-236	169	9	equation	equation	NOUN
ajeer-236	169	10	:	:	PUNCT
ajeer-236	169	11	yt	yt	PROPN
ajeer-236	169	12	=	=	PUNCT
ajeer-236	169	13	xt	xt	PROPN
ajeer-236	170	1	+	+	CCONJ
ajeer-236	170	2	ut	ut	PROPN
ajeer-236	170	3	................................	................................	PUNCT
ajeer-236	170	4	(	(	PUNCT
ajeer-236	170	5	5	5	X
ajeer-236	170	6	)	)	PUNCT
ajeer-236	170	7	conditional	conditional	ADJ
ajeer-236	170	8	variance	variance	NOUN
ajeer-236	170	9	:	:	PUNCT
ajeer-236	170	10	................................	................................	PUNCT
ajeer-236	170	11	(	(	PUNCT
ajeer-236	170	12	6	6	NUM
ajeer-236	170	13	)	)	PUNCT
ajeer-236	170	14	moreover	moreover	ADV
ajeer-236	170	15	,	,	PUNCT
ajeer-236	170	16	to	to	PART
ajeer-236	170	17	test	test	VERB
ajeer-236	170	18	the	the	DET
ajeer-236	170	19	effect	effect	NOUN
ajeer-236	170	20	on	on	ADP
ajeer-236	170	21	investors	investor	NOUN
ajeer-236	170	22	when	when	SCONJ
ajeer-236	170	23	the	the	DET
ajeer-236	170	24	leading	lead	VERB
ajeer-236	170	25	company‟s	company‟s	ADJ
ajeer-236	170	26	stock	stock	NOUN
ajeer-236	170	27	price	price	NOUN
ajeer-236	170	28	is	be	AUX
ajeer-236	170	29	or	or	CCONJ
ajeer-236	170	30	is	be	AUX
ajeer-236	170	31	not	not	PART
ajeer-236	170	32	included	include	VERB
ajeer-236	170	33	,	,	PUNCT
ajeer-236	170	34	this	this	DET
ajeer-236	170	35	paper	paper	NOUN
ajeer-236	170	36	adopts	adopt	VERB
ajeer-236	170	37	the	the	DET
ajeer-236	170	38	method	method	NOUN
ajeer-236	170	39	used	use	VERB
ajeer-236	170	40	in	in	ADP
ajeer-236	170	41	lan	lan	PROPN
ajeer-236	170	42	et	et	PROPN
ajeer-236	170	43	al	al	PROPN
ajeer-236	170	44	.	.	PROPN
ajeer-236	171	1	(	(	PUNCT
ajeer-236	171	2	2014;2017	2014;2017	NUM
ajeer-236	171	3	)	)	PUNCT
ajeer-236	171	4	and	and	CCONJ
ajeer-236	171	5	tests	test	NOUN
ajeer-236	171	6	for	for	ADP
ajeer-236	171	7	the	the	DET
ajeer-236	171	8	difference	difference	NOUN
ajeer-236	171	9	in	in	ADP
ajeer-236	171	10			NUM
ajeer-236	171	11	coefficients	coefficient	NOUN
ajeer-236	171	12	.	.	PUNCT
ajeer-236	172	1	the	the	DET
ajeer-236	172	2	t	t	PROPN
ajeer-236	172	3	statistics	statistic	NOUN
ajeer-236	172	4	can	can	AUX
ajeer-236	172	5	be	be	AUX
ajeer-236	172	6	calculated	calculate	VERB
ajeer-236	172	7	as	as	SCONJ
ajeer-236	172	8	follows	follow	VERB
ajeer-236	172	9	:	:	PUNCT
ajeer-236	172	10	2	2	NUM
ajeer-236	172	11	2	2	NUM
ajeer-236	172	12	2	2	NUM
ajeer-236	172	13	1	1	NUM
ajeer-236	172	14	2	2	NUM
ajeer-236	172	15	1	1	NUM
ajeer-236	172	16	12	12	NUM
ajeer-236	172	17	ˆˆ	ˆˆ	PROPN
ajeer-236	172	18	/	/	PUNCT
ajeer-236	172	19	)	)	PUNCT
ajeer-236	172	20	(	(	PUNCT
ajeer-236	172	21	nn	nn	PROPN
ajeer-236	172	22	t	t	PROPN
ajeer-236	172	23			X
ajeer-236	172	24			X
ajeer-236	172	25			NUM
ajeer-236	172	26	................................	................................	PUNCT
ajeer-236	172	27	(	(	PUNCT
ajeer-236	172	28	7	7	NUM
ajeer-236	172	29	)	)	PUNCT
ajeer-236	172	30	where	where	SCONJ
ajeer-236	172	31	21,	21,	NUM
ajeer-236	172	32	are	be	AUX
ajeer-236	172	33	the	the	DET
ajeer-236	172	34			NUM
ajeer-236	172	35	coefficient	coefficient	NOUN
ajeer-236	172	36	for	for	ADP
ajeer-236	172	37	including	include	VERB
ajeer-236	172	38	(	(	PUNCT
ajeer-236	172	39	or	or	CCONJ
ajeer-236	172	40	excluding	exclude	VERB
ajeer-236	172	41	)	)	PUNCT
ajeer-236	172	42	the	the	DET
ajeer-236	172	43	leading	lead	VERB
ajeer-236	172	44	company‟s	company‟s	ADJ
ajeer-236	172	45	stock	stock	NOUN
ajeer-236	172	46	prices	price	NOUN
ajeer-236	172	47	.	.	PUNCT
ajeer-236	173	1	̂	̂	NOUN
ajeer-236	173	2	2	2	NUM
ajeer-236	173	3	1	1	NUM
ajeer-236	173	4	and	and	CCONJ
ajeer-236	173	5	̂	̂	NOUN
ajeer-236	173	6	2	2	NUM
ajeer-236	173	7	2	2	NUM
ajeer-236	173	8	are	be	AUX
ajeer-236	173	9	the	the	DET
ajeer-236	173	10	covariance	covariance	NOUN
ajeer-236	173	11	of	of	ADP
ajeer-236	173	12	.	.	PROPN
ajeer-236	173	13	n1	n1	PROPN
ajeer-236	173	14	and	and	CCONJ
ajeer-236	173	15	n2	n2	NOUN
ajeer-236	173	16	represent	represent	VERB
ajeer-236	173	17	the	the	DET
ajeer-236	173	18	sample	sample	NOUN
ajeer-236	173	19	size	size	NOUN
ajeer-236	173	20	.	.	PUNCT
ajeer-236	174	1	if	if	SCONJ
ajeer-236	174	2	the	the	DET
ajeer-236	174	3	latter	latter	NOUN
ajeer-236	174	4	is	be	AUX
ajeer-236	174	5	greater	great	ADJ
ajeer-236	174	6	than	than	ADP
ajeer-236	174	7	the	the	DET
ajeer-236	174	8	former	former	ADJ
ajeer-236	174	9	and	and	CCONJ
ajeer-236	174	10	there	there	PRON
ajeer-236	174	11	is	be	VERB
ajeer-236	174	12	a	a	DET
ajeer-236	174	13	significant	significant	ADJ
ajeer-236	174	14	difference	difference	NOUN
ajeer-236	174	15	in	in	ADP
ajeer-236	174	16	coefficients	coefficient	NOUN
ajeer-236	174	17	,	,	PUNCT
ajeer-236	174	18	this	this	PRON
ajeer-236	174	19	suggests	suggest	VERB
ajeer-236	174	20	that	that	SCONJ
ajeer-236	174	21	excluding	exclude	VERB
ajeer-236	174	22	the	the	DET
ajeer-236	174	23	leading	lead	VERB
ajeer-236	174	24	company‟s	company‟s	ADJ
ajeer-236	174	25	stock	stock	NOUN
ajeer-236	174	26	price	price	NOUN
ajeer-236	174	27	information	information	NOUN
ajeer-236	174	28	in	in	ADP
ajeer-236	174	29	investors‟	investors‟	NOUN
ajeer-236	174	30	investment	investment	NOUN
ajeer-236	174	31	decisions	decision	NOUN
ajeer-236	174	32	,	,	PUNCT
ajeer-236	174	33	investors	investor	NOUN
ajeer-236	174	34	worry	worry	VERB
ajeer-236	174	35	more	more	ADV
ajeer-236	174	36	about	about	ADP
ajeer-236	174	37	their	their	PRON
ajeer-236	174	38	future	future	ADJ
ajeer-236	174	39	cash	cash	NOUN
ajeer-236	174	40	flow	flow	NOUN
ajeer-236	174	41	risks	risk	NOUN
ajeer-236	174	42	.	.	PUNCT
ajeer-236	175	1	therefore	therefore	ADV
ajeer-236	175	2	,	,	PUNCT
ajeer-236	175	3	the	the	DET
ajeer-236	175	4	results	result	NOUN
ajeer-236	175	5	provide	provide	VERB
ajeer-236	175	6	support	support	NOUN
ajeer-236	175	7	for	for	ADP
ajeer-236	175	8	hypothesis	hypothesis	NOUN
ajeer-236	175	9	1	1	NUM
ajeer-236	175	10	.	.	PUNCT
ajeer-236	176	1	that	that	PRON
ajeer-236	176	2	is	is	ADV
ajeer-236	176	3	,	,	PUNCT
ajeer-236	176	4	including	include	VERB
ajeer-236	176	5	the	the	DET
ajeer-236	176	6	stock	stock	NOUN
ajeer-236	176	7	price	price	NOUN
ajeer-236	176	8	information	information	NOUN
ajeer-236	176	9	of	of	ADP
ajeer-236	176	10	the	the	DET
ajeer-236	176	11	leading	lead	VERB
ajeer-236	176	12	company	company	NOUN
ajeer-236	176	13	can	can	AUX
ajeer-236	176	14	lower	lower	VERB
ajeer-236	176	15	the	the	DET
ajeer-236	176	16	leverage	leverage	NOUN
ajeer-236	176	17	effect	effect	NOUN
ajeer-236	176	18	and	and	CCONJ
ajeer-236	176	19	reduce	reduce	VERB
ajeer-236	176	20	the	the	DET
ajeer-236	176	21	impact	impact	NOUN
ajeer-236	176	22	of	of	ADP
ajeer-236	176	23	selling	sell	VERB
ajeer-236	176	24	news	news	NOUN
ajeer-236	176	25	on	on	ADP
ajeer-236	176	26	investors	investor	NOUN
ajeer-236	176	27	.	.	PUNCT
ajeer-236	177	1	3.3	3.3	NUM
ajeer-236	177	2	.	.	PUNCT
ajeer-236	178	1	experimental	experimental	ADJ
ajeer-236	178	2	design	design	NOUN
ajeer-236	178	3	and	and	CCONJ
ajeer-236	178	4	estimation	estimation	NOUN
ajeer-236	178	5	method	method	NOUN
ajeer-236	178	6	two	two	NUM
ajeer-236	178	7	main	main	ADJ
ajeer-236	178	8	research	research	NOUN
ajeer-236	178	9	methods	method	NOUN
ajeer-236	178	10	in	in	ADP
ajeer-236	178	11	behavioral	behavioral	ADJ
ajeer-236	178	12	finance	finance	NOUN
ajeer-236	178	13	are	be	AUX
ajeer-236	178	14	structural	structural	ADJ
ajeer-236	178	15	equation	equation	NOUN
ajeer-236	178	16	modeling	modeling	NOUN
ajeer-236	178	17	(	(	PUNCT
ajeer-236	178	18	sem	sem	NOUN
ajeer-236	178	19	)	)	PUNCT
ajeer-236	178	20	and	and	CCONJ
ajeer-236	178	21	experimental	experimental	ADJ
ajeer-236	178	22	methods	method	NOUN
ajeer-236	178	23	.	.	PUNCT
ajeer-236	179	1	as	as	SCONJ
ajeer-236	179	2	the	the	DET
ajeer-236	179	3	former	former	ADJ
ajeer-236	179	4	requires	require	VERB
ajeer-236	179	5	a	a	DET
ajeer-236	179	6	carefully	carefully	ADV
ajeer-236	179	7	designed	design	VERB
ajeer-236	179	8	questionnaire	questionnaire	NOUN
ajeer-236	179	9	and	and	CCONJ
ajeer-236	179	10	a	a	DET
ajeer-236	179	11	large	large	ADJ
ajeer-236	179	12	scale	scale	NOUN
ajeer-236	179	13	of	of	ADP
ajeer-236	179	14	survey	survey	NOUN
ajeer-236	179	15	to	to	PART
ajeer-236	179	16	find	find	VERB
ajeer-236	179	17	a	a	DET
ajeer-236	179	18	suitable	suitable	ADJ
ajeer-236	179	19	theoretical	theoretical	ADJ
ajeer-236	179	20	model	model	NOUN
ajeer-236	179	21	,	,	PUNCT
ajeer-236	179	22	this	this	DET
ajeer-236	179	23	study	study	NOUN
ajeer-236	179	24	adopts	adopt	VERB
ajeer-236	179	25	the	the	DET
ajeer-236	179	26	experimental	experimental	ADJ
ajeer-236	179	27	method	method	NOUN
ajeer-236	179	28	and	and	CCONJ
ajeer-236	179	29	uses	use	VERB
ajeer-236	179	30	a	a	DET
ajeer-236	179	31	simulation	simulation	NOUN
ajeer-236	179	32	program	program	NOUN
ajeer-236	179	33	in	in	ADP
ajeer-236	179	34	multicharts	multichart	NOUN
ajeer-236	179	35	to	to	PART
ajeer-236	179	36	develop	develop	VERB
ajeer-236	179	37	a	a	DET
ajeer-236	179	38	model	model	NOUN
ajeer-236	179	39	for	for	ADP
ajeer-236	179	40	following	follow	VERB
ajeer-236	179	41	the	the	DET
ajeer-236	179	42	leading	lead	VERB
ajeer-236	179	43	company‟s	company‟s	ADJ
ajeer-236	179	44	stock	stock	NOUN
ajeer-236	179	45	prices	price	NOUN
ajeer-236	179	46	.	.	PUNCT
ajeer-236	180	1	specifically	specifically	ADV
ajeer-236	180	2	,	,	PUNCT
ajeer-236	180	3	for	for	ADP
ajeer-236	180	4	the	the	DET
ajeer-236	180	5	formosa	formosa	PROPN
ajeer-236	180	6	plastics	plastic	NOUN
ajeer-236	180	7	group	group	NOUN
ajeer-236	180	8	,	,	PUNCT
ajeer-236	180	9	the	the	DET
ajeer-236	180	10	leading	lead	VERB
ajeer-236	180	11	company	company	NOUN
ajeer-236	180	12	of	of	ADP
ajeer-236	180	13	model	model	NOUN
ajeer-236	180	14	1	1	NUM
ajeer-236	180	15	is	be	AUX
ajeer-236	180	16	formosa	formosa	NOUN
ajeer-236	180	17	advanced	advanced	ADJ
ajeer-236	180	18	technologies	technology	NOUN
ajeer-236	180	19	and	and	CCONJ
ajeer-236	180	20	the	the	DET
ajeer-236	180	21	leading	lead	VERB
ajeer-236	180	22	company	company	NOUN
ajeer-236	180	23	of	of	ADP
ajeer-236	180	24	model	model	NOUN
ajeer-236	180	25	2	2	NUM
ajeer-236	180	26	is	be	AUX
ajeer-236	180	27	nan	nan	PROPN
ajeer-236	180	28	ya	ya	PROPN
ajeer-236	180	29	printed	print	VERB
ajeer-236	180	30	circuit	circuit	PROPN
ajeer-236	180	31	board	board	NOUN
ajeer-236	180	32	.	.	PUNCT
ajeer-236	181	1	data1	data1	NOUN
ajeer-236	181	2	is	be	AUX
ajeer-236	181	3	the	the	DET
ajeer-236	181	4	price	price	NOUN
ajeer-236	181	5	of	of	ADP
ajeer-236	181	6	individual	individual	ADJ
ajeer-236	181	7	stocks	stock	NOUN
ajeer-236	181	8	;	;	PUNCT
ajeer-236	181	9	data2	data2	PROPN
ajeer-236	181	10	is	be	AUX
ajeer-236	181	11	the	the	DET
ajeer-236	181	12	price	price	NOUN
ajeer-236	181	13	of	of	ADP
ajeer-236	181	14	0050	0050	NUM
ajeer-236	181	15	;	;	PUNCT
ajeer-236	181	16	data	datum	NOUN
ajeer-236	181	17	3	3	NUM
ajeer-236	181	18	is	be	AUX
ajeer-236	181	19	the	the	DET
ajeer-236	181	20	stock	stock	NOUN
ajeer-236	181	21	price	price	NOUN
ajeer-236	181	22	of	of	ADP
ajeer-236	181	23	leading	lead	VERB
ajeer-236	181	24	company	company	NOUN
ajeer-236	181	25	(	(	PUNCT
ajeer-236	181	26	i.e.	i.e.	X
ajeer-236	181	27	,	,	PUNCT
ajeer-236	181	28	formosa	formosa	PROPN
ajeer-236	181	29	advanced	advanced	ADJ
ajeer-236	181	30	technologies	technology	NOUN
ajeer-236	181	31	for	for	ADP
ajeer-236	181	32	model	model	NOUN
ajeer-236	181	33	1	1	NUM
ajeer-236	181	34	and	and	CCONJ
ajeer-236	181	35	nan	nan	PROPN
ajeer-236	181	36	ya	ya	PROPN
ajeer-236	181	37	printed	print	VERB
ajeer-236	181	38	circuit	circuit	PROPN
ajeer-236	181	39	board	board	NOUN
ajeer-236	181	40	for	for	ADP
ajeer-236	181	41	model	model	NOUN
ajeer-236	181	42	2).6	2).6	PROPN
ajeer-236	181	43	as	as	ADP
ajeer-236	181	44	for	for	ADP
ajeer-236	181	45	the	the	DET
ajeer-236	181	46	far	far	ADV
ajeer-236	181	47	eastern	eastern	ADJ
ajeer-236	181	48	group	group	NOUN
ajeer-236	181	49	,	,	PUNCT
ajeer-236	181	50	the	the	DET
ajeer-236	181	51	leading	lead	VERB
ajeer-236	181	52	company	company	NOUN
ajeer-236	181	53	of	of	ADP
ajeer-236	181	54	model	model	NOUN
ajeer-236	181	55	1	1	NUM
ajeer-236	181	56	is	be	AUX
ajeer-236	181	57	u	u	ADJ
ajeer-236	181	58	-	-	ADJ
ajeer-236	181	59	ming	ming	ADJ
ajeer-236	181	60	marine	marine	PROPN
ajeer-236	181	61	and	and	CCONJ
ajeer-236	181	62	the	the	DET
ajeer-236	181	63	leading	lead	VERB
ajeer-236	181	64	company	company	NOUN
ajeer-236	181	65	of	of	ADP
ajeer-236	181	66	model	model	NOUN
ajeer-236	181	67	2	2	NUM
ajeer-236	181	68	is	be	AUX
ajeer-236	181	69	far	far	ADV
ajeer-236	181	70	eastern	eastern	ADJ
ajeer-236	181	71	department	department	NOUN
ajeer-236	181	72	stores	store	NOUN
ajeer-236	181	73	.	.	PUNCT
ajeer-236	182	1	similarly	similarly	ADV
ajeer-236	182	2	,	,	PUNCT
ajeer-236	182	3	data1	data1	PROPN
ajeer-236	182	4	is	be	AUX
ajeer-236	182	5	the	the	DET
ajeer-236	182	6	price	price	NOUN
ajeer-236	182	7	of	of	ADP
ajeer-236	182	8	individual	individual	ADJ
ajeer-236	182	9	stocks	stock	NOUN
ajeer-236	182	10	;	;	PUNCT
ajeer-236	182	11	data2	data2	PROPN
ajeer-236	182	12	is	be	AUX
ajeer-236	182	13	the	the	DET
ajeer-236	182	14	price	price	NOUN
ajeer-236	182	15	of	of	ADP
ajeer-236	182	16	0050	0050	NUM
ajeer-236	182	17	;	;	PUNCT
ajeer-236	182	18	data	datum	NOUN
ajeer-236	182	19	3	3	NUM
ajeer-236	182	20	is	be	AUX
ajeer-236	182	21	the	the	DET
ajeer-236	182	22	stock	stock	NOUN
ajeer-236	182	23	price	price	NOUN
ajeer-236	182	24	of	of	ADP
ajeer-236	182	25	leading	lead	VERB
ajeer-236	182	26	company	company	NOUN
ajeer-236	182	27	(	(	PUNCT
ajeer-236	182	28	i.e.	i.e.	X
ajeer-236	182	29	,	,	PUNCT
ajeer-236	182	30	u	u	ADJ
ajeer-236	182	31	-	-	ADJ
ajeer-236	182	32	ming	ming	ADJ
ajeer-236	182	33	marine	marine	PROPN
ajeer-236	182	34	for	for	ADP
ajeer-236	182	35	model	model	NOUN
ajeer-236	182	36	1	1	NUM
ajeer-236	182	37	and	and	CCONJ
ajeer-236	182	38	far	far	ADV
ajeer-236	182	39	eastern	eastern	ADJ
ajeer-236	182	40	department	department	NOUN
ajeer-236	182	41	stores	store	NOUN
ajeer-236	182	42	for	for	ADP
ajeer-236	182	43	model	model	NOUN
ajeer-236	182	44	2	2	NUM
ajeer-236	182	45	)	)	PUNCT
ajeer-236	182	46	.	.	PUNCT
ajeer-236	183	1	then	then	ADV
ajeer-236	183	2	,	,	PUNCT
ajeer-236	183	3	this	this	DET
ajeer-236	183	4	study	study	NOUN
ajeer-236	183	5	follows	follow	VERB
ajeer-236	183	6	the	the	DET
ajeer-236	183	7	method	method	NOUN
ajeer-236	183	8	in	in	ADP
ajeer-236	183	9	williams	williams	PROPN
ajeer-236	183	10	(	(	PUNCT
ajeer-236	183	11	1999	1999	NUM
ajeer-236	183	12	)	)	PUNCT
ajeer-236	183	13	adds	add	VERB
ajeer-236	183	14	in	in	ADP
ajeer-236	183	15	filters	filter	NOUN
ajeer-236	183	16	and	and	CCONJ
ajeer-236	183	17	adopts	adopt	VERB
ajeer-236	183	18	the	the	DET
ajeer-236	183	19	rsi	rsi	PROPN
ajeer-236	183	20	technical	technical	ADJ
ajeer-236	183	21	trading	trading	NOUN
ajeer-236	183	22	strategy	strategy	NOUN
ajeer-236	183	23	in	in	ADP
ajeer-236	183	24	lan	lan	PROPN
ajeer-236	183	25	et	et	PROPN
ajeer-236	183	26	al	al	PROPN
ajeer-236	183	27	.	.	PROPN
ajeer-236	183	28	(	(	PUNCT
ajeer-236	183	29	2014;2017	2014;2017	NUM
ajeer-236	183	30	)	)	PUNCT
ajeer-236	183	31	which	which	PRON
ajeer-236	183	32	is	be	AUX
ajeer-236	183	33	based	base	VERB
ajeer-236	183	34	on	on	ADP
ajeer-236	183	35	the	the	DET
ajeer-236	183	36	closing	closing	NOUN
ajeer-236	183	37	price	price	NOUN
ajeer-236	183	38	and	and	CCONJ
ajeer-236	183	39	the	the	DET
ajeer-236	183	40	breakthrough	breakthrough	NOUN
ajeer-236	183	41	by	by	ADP
ajeer-236	183	42	the	the	DET
ajeer-236	183	43	20	20	NUM
ajeer-236	183	44	-	-	PUNCT
ajeer-236	183	45	day	day	NOUN
ajeer-236	183	46	moving	move	VERB
ajeer-236	183	47	average	average	NOUN
ajeer-236	183	48	.	.	PUNCT
ajeer-236	184	1	specifically	specifically	ADV
ajeer-236	184	2	,	,	PUNCT
ajeer-236	184	3	a	a	DET
ajeer-236	184	4	“	"	PUNCT
ajeer-236	184	5	system	system	NOUN
ajeer-236	184	6	buy	buy	NOUN
ajeer-236	184	7	”	"	PUNCT
ajeer-236	184	8	requires	require	VERB
ajeer-236	184	9	the	the	DET
ajeer-236	184	10	following	follow	VERB
ajeer-236	184	11	three	three	NUM
ajeer-236	184	12	conditions	condition	NOUN
ajeer-236	184	13	to	to	PART
ajeer-236	184	14	be	be	AUX
ajeer-236	184	15	met	meet	VERB
ajeer-236	185	1	and	and	CCONJ
ajeer-236	185	2	they	they	PRON
ajeer-236	185	3	are	be	AUX
ajeer-236	185	4	:	:	PUNCT
ajeer-236	185	5	(	(	PUNCT
ajeer-236	185	6	1	1	X
ajeer-236	185	7	)	)	PUNCT
ajeer-236	185	8	today‟s	today‟	NOUN
ajeer-236	185	9	closing	closing	NOUN
ajeer-236	185	10	price	price	NOUN
ajeer-236	185	11	of	of	ADP
ajeer-236	185	12	data2	data2	PROPN
ajeer-236	185	13	is	be	AUX
ajeer-236	185	14	higher	high	ADJ
ajeer-236	185	15	than	than	ADP
ajeer-236	185	16	20	20	NUM
ajeer-236	185	17	-	-	PUNCT
ajeer-236	185	18	day	day	NOUN
ajeer-236	185	19	moving	move	VERB
ajeer-236	185	20	average	average	ADJ
ajeer-236	185	21	price	price	NOUN
ajeer-236	185	22	of	of	ADP
ajeer-236	185	23	data2	data2	PROPN
ajeer-236	185	24	;	;	PUNCT
ajeer-236	185	25	(	(	PUNCT
ajeer-236	185	26	2	2	X
ajeer-236	185	27	)	)	PUNCT
ajeer-236	185	28	today‟s	today‟	NOUN
ajeer-236	185	29	closing	closing	NOUN
ajeer-236	185	30	price	price	NOUN
ajeer-236	185	31	of	of	ADP
ajeer-236	185	32	data1	data1	PROPN
ajeer-236	185	33	is	be	AUX
ajeer-236	185	34	higher	high	ADJ
ajeer-236	185	35	than	than	ADP
ajeer-236	185	36	the	the	DET
ajeer-236	185	37	20	20	NUM
ajeer-236	185	38	-	-	PUNCT
ajeer-236	185	39	day	day	NOUN
ajeer-236	185	40	moving	move	VERB
ajeer-236	185	41	average	average	ADJ
ajeer-236	185	42	price	price	NOUN
ajeer-236	185	43	of	of	ADP
ajeer-236	185	44	data1	data1	NOUN
ajeer-236	185	45	;	;	PUNCT
ajeer-236	185	46	and	and	CCONJ
ajeer-236	185	47	(	(	PUNCT
ajeer-236	185	48	3	3	X
ajeer-236	185	49	)	)	PUNCT
ajeer-236	185	50	the	the	DET
ajeer-236	185	51	rsi	rsi	NOUN
ajeer-236	185	52	of	of	ADP
ajeer-236	185	53	today‟s	today‟	NOUN
ajeer-236	185	54	stock	stock	NOUN
ajeer-236	185	55	prices	price	NOUN
ajeer-236	185	56	is	be	AUX
ajeer-236	185	57	higher	high	ADJ
ajeer-236	185	58	than	than	ADP
ajeer-236	185	59	the	the	DET
ajeer-236	185	60	best	good	ADJ
ajeer-236	185	61	buying	buying	NOUN
ajeer-236	185	62	point‟s	point‟s	ADJ
ajeer-236	185	63	rsi	rsi	NOUN
ajeer-236	185	64	.	.	PUNCT
ajeer-236	186	1	on	on	ADP
ajeer-236	186	2	the	the	DET
ajeer-236	186	3	contrary	contrary	NOUN
ajeer-236	186	4	,	,	PUNCT
ajeer-236	186	5	a	a	PRON
ajeer-236	186	6	“	"	PUNCT
ajeer-236	186	7	system	system	NOUN
ajeer-236	186	8	sell	sell	NOUN
ajeer-236	186	9	”	"	PUNCT
ajeer-236	186	10	requires	require	VERB
ajeer-236	186	11	three	three	NUM
ajeer-236	186	12	conditions	condition	NOUN
ajeer-236	186	13	to	to	PART
ajeer-236	186	14	be	be	AUX
ajeer-236	186	15	met	meet	VERB
ajeer-236	187	1	and	and	CCONJ
ajeer-236	187	2	they	they	PRON
ajeer-236	187	3	are	be	AUX
ajeer-236	187	4	:	:	PUNCT
ajeer-236	187	5	(	(	PUNCT
ajeer-236	187	6	1	1	X
ajeer-236	187	7	)	)	PUNCT
ajeer-236	187	8	today‟s	today‟	NOUN
ajeer-236	187	9	closing	closing	NOUN
ajeer-236	187	10	price	price	NOUN
ajeer-236	187	11	of	of	ADP
ajeer-236	187	12	data2	data2	PROPN
ajeer-236	187	13	is	be	AUX
ajeer-236	187	14	lower	low	ADJ
ajeer-236	187	15	than	than	ADP
ajeer-236	187	16	20	20	NUM
ajeer-236	187	17	-	-	PUNCT
ajeer-236	187	18	day	day	NOUN
ajeer-236	187	19	moving	move	VERB
ajeer-236	187	20	average	average	ADJ
ajeer-236	187	21	price	price	NOUN
ajeer-236	187	22	of	of	ADP
ajeer-236	187	23	data2	data2	PROPN
ajeer-236	187	24	;	;	PUNCT
ajeer-236	187	25	(	(	PUNCT
ajeer-236	187	26	2	2	X
ajeer-236	187	27	)	)	PUNCT
ajeer-236	187	28	today‟s	today‟	NOUN
ajeer-236	187	29	closing	closing	NOUN
ajeer-236	187	30	price	price	NOUN
ajeer-236	187	31	of	of	ADP
ajeer-236	187	32	5due	5due	NUM
ajeer-236	187	33	to	to	PART
ajeer-236	187	34	page	page	NOUN
ajeer-236	187	35	limit	limit	NOUN
ajeer-236	187	36	,	,	PUNCT
ajeer-236	187	37	the	the	DET
ajeer-236	187	38	detail	detail	NOUN
ajeer-236	187	39	discussions	discussion	NOUN
ajeer-236	187	40	are	be	AUX
ajeer-236	187	41	not	not	PART
ajeer-236	187	42	provided	provide	VERB
ajeer-236	187	43	here	here	ADV
ajeer-236	187	44	.	.	PUNCT
ajeer-236	188	1	6the	6the	DET
ajeer-236	188	2	choice	choice	NOUN
ajeer-236	188	3	of	of	ADP
ajeer-236	188	4	leading	lead	VERB
ajeer-236	188	5	company	company	NOUN
ajeer-236	188	6	is	be	AUX
ajeer-236	188	7	based	base	VERB
ajeer-236	188	8	on	on	ADP
ajeer-236	188	9	granger	granger	PROPN
ajeer-236	188	10	causality	causality	PROPN
ajeer-236	188	11	test	test	NOUN
ajeer-236	188	12	results	result	NOUN
ajeer-236	188	13	.	.	PUNCT
ajeer-236	189	1	asian	asian	ADJ
ajeer-236	189	2	journal	journal	PROPN
ajeer-236	189	3	of	of	ADP
ajeer-236	189	4	economics	economic	NOUN
ajeer-236	189	5	and	and	CCONJ
ajeer-236	189	6	empirical	empirical	ADJ
ajeer-236	189	7	research	research	NOUN
ajeer-236	189	8	,	,	PUNCT
ajeer-236	189	9	2017	2017	NUM
ajeer-236	189	10	,	,	PUNCT
ajeer-236	189	11	4(2	4(2	NUM
ajeer-236	189	12	):	):	PUNCT
ajeer-236	189	13	106	106	NUM
ajeer-236	189	14	-	-	SYM
ajeer-236	189	15	120	120	NUM
ajeer-236	189	16	110	110	NUM
ajeer-236	189	17	data1	data1	NOUN
ajeer-236	189	18	is	be	AUX
ajeer-236	189	19	lower	low	ADJ
ajeer-236	189	20	than	than	ADP
ajeer-236	189	21	the	the	DET
ajeer-236	189	22	20	20	NUM
ajeer-236	189	23	-	-	PUNCT
ajeer-236	189	24	day	day	NOUN
ajeer-236	189	25	moving	move	VERB
ajeer-236	189	26	average	average	ADJ
ajeer-236	189	27	price	price	NOUN
ajeer-236	189	28	of	of	ADP
ajeer-236	189	29	data1	data1	NOUN
ajeer-236	189	30	;	;	PUNCT
ajeer-236	189	31	and	and	CCONJ
ajeer-236	189	32	(	(	PUNCT
ajeer-236	189	33	3	3	X
ajeer-236	189	34	)	)	PUNCT
ajeer-236	189	35	the	the	DET
ajeer-236	189	36	rsi	rsi	NOUN
ajeer-236	189	37	of	of	ADP
ajeer-236	189	38	today‟s	today‟	NOUN
ajeer-236	189	39	stock	stock	NOUN
ajeer-236	189	40	prices	price	NOUN
ajeer-236	189	41	is	be	AUX
ajeer-236	189	42	lower	low	ADJ
ajeer-236	189	43	than	than	ADP
ajeer-236	189	44	the	the	DET
ajeer-236	189	45	best	good	ADJ
ajeer-236	189	46	selling	selling	NOUN
ajeer-236	189	47	point‟s	point‟s	ADJ
ajeer-236	189	48	rsi	rsi	NOUN
ajeer-236	189	49	.	.	PUNCT
ajeer-236	190	1	this	this	DET
ajeer-236	190	2	study	study	NOUN
ajeer-236	190	3	uses	use	VERB
ajeer-236	190	4	the	the	DET
ajeer-236	190	5	optimized	optimize	VERB
ajeer-236	190	6	trading	trading	NOUN
ajeer-236	190	7	program	program	NOUN
ajeer-236	190	8	to	to	PART
ajeer-236	190	9	find	find	VERB
ajeer-236	190	10	the	the	DET
ajeer-236	190	11	optimal	optimal	ADJ
ajeer-236	190	12	number	number	NOUN
ajeer-236	190	13	of	of	ADP
ajeer-236	190	14	days	day	NOUN
ajeer-236	190	15	in	in	ADP
ajeer-236	190	16	moving	move	VERB
ajeer-236	190	17	average	average	ADJ
ajeer-236	190	18	.	.	PUNCT
ajeer-236	191	1	the	the	DET
ajeer-236	191	2	position	position	NOUN
ajeer-236	191	3	is	be	AUX
ajeer-236	191	4	closed	close	VERB
ajeer-236	191	5	out	out	ADP
ajeer-236	191	6	if	if	SCONJ
ajeer-236	191	7	the	the	DET
ajeer-236	191	8	profit	profit	NOUN
ajeer-236	191	9	is	be	AUX
ajeer-236	191	10	greater	great	ADJ
ajeer-236	191	11	than	than	ADP
ajeer-236	191	12	500	500	NUM
ajeer-236	191	13	points	point	NOUN
ajeer-236	191	14	or	or	CCONJ
ajeer-236	191	15	the	the	DET
ajeer-236	191	16	loss	loss	NOUN
ajeer-236	191	17	is	be	AUX
ajeer-236	191	18	greater	great	ADJ
ajeer-236	191	19	than	than	ADP
ajeer-236	191	20	100	100	NUM
ajeer-236	191	21	points	point	NOUN
ajeer-236	191	22	.	.	PUNCT
ajeer-236	192	1	based	base	VERB
ajeer-236	192	2	on	on	ADP
ajeer-236	192	3	the	the	DET
ajeer-236	192	4	results	result	NOUN
ajeer-236	192	5	from	from	ADP
ajeer-236	192	6	simulated	simulated	ADJ
ajeer-236	192	7	experiments	experiment	NOUN
ajeer-236	192	8	,	,	PUNCT
ajeer-236	192	9	we	we	PRON
ajeer-236	192	10	can	can	AUX
ajeer-236	192	11	test	test	VERB
ajeer-236	192	12	for	for	ADP
ajeer-236	192	13	hypothesis	hypothesis	NOUN
ajeer-236	192	14	2	2	NUM
ajeer-236	192	15	;	;	PUNCT
ajeer-236	192	16	that	that	PRON
ajeer-236	192	17	is	is	ADV
ajeer-236	192	18	,	,	PUNCT
ajeer-236	192	19	incorporating	incorporate	VERB
ajeer-236	192	20	the	the	DET
ajeer-236	192	21	leading	lead	VERB
ajeer-236	192	22	company	company	NOUN
ajeer-236	192	23	of	of	ADP
ajeer-236	192	24	the	the	DET
ajeer-236	192	25	business	business	NOUN
ajeer-236	192	26	group	group	NOUN
ajeer-236	192	27	in	in	ADP
ajeer-236	192	28	the	the	DET
ajeer-236	192	29	technical	technical	ADJ
ajeer-236	192	30	analysis	analysis	NOUN
ajeer-236	192	31	can	can	AUX
ajeer-236	192	32	enhance	enhance	VERB
ajeer-236	192	33	the	the	DET
ajeer-236	192	34	trading	trading	NOUN
ajeer-236	192	35	performance	performance	NOUN
ajeer-236	192	36	in	in	ADP
ajeer-236	192	37	the	the	DET
ajeer-236	192	38	stock	stock	NOUN
ajeer-236	192	39	market	market	NOUN
ajeer-236	192	40	.	.	PUNCT
ajeer-236	193	1	this	this	PRON
ajeer-236	193	2	,	,	PUNCT
ajeer-236	193	3	at	at	ADP
ajeer-236	193	4	the	the	DET
ajeer-236	193	5	same	same	ADJ
ajeer-236	193	6	time	time	NOUN
ajeer-236	193	7	,	,	PUNCT
ajeer-236	193	8	indirectly	indirectly	ADV
ajeer-236	193	9	proves	prove	VERB
ajeer-236	193	10	the	the	DET
ajeer-236	193	11	existence	existence	NOUN
ajeer-236	193	12	of	of	ADP
ajeer-236	193	13	herding	herding	NOUN
ajeer-236	193	14	behavior	behavior	NOUN
ajeer-236	193	15	.	.	PUNCT
ajeer-236	194	1	4	4	X
ajeer-236	194	2	.	.	X
ajeer-236	194	3	data	datum	NOUN
ajeer-236	194	4	based	base	VERB
ajeer-236	194	5	on	on	ADP
ajeer-236	194	6	the	the	DET
ajeer-236	194	7	classifications	classification	NOUN
ajeer-236	194	8	provided	provide	VERB
ajeer-236	194	9	in	in	ADP
ajeer-236	194	10	tej	tej	ADJ
ajeer-236	194	11	database	database	NOUN
ajeer-236	194	12	,	,	PUNCT
ajeer-236	194	13	nine	nine	NUM
ajeer-236	194	14	publicly	publicly	ADV
ajeer-236	194	15	listed	list	VERB
ajeer-236	194	16	companies	company	NOUN
ajeer-236	194	17	of	of	ADP
ajeer-236	194	18	the	the	DET
ajeer-236	194	19	formosa	formosa	PROPN
ajeer-236	194	20	plastics	plastic	NOUN
ajeer-236	194	21	group	group	NOUN
ajeer-236	194	22	(	(	PUNCT
ajeer-236	194	23	including	include	VERB
ajeer-236	194	24	formosa	formosa	NOUN
ajeer-236	194	25	plastics	plastic	NOUN
ajeer-236	194	26	(	(	PUNCT
ajeer-236	194	27	1301	1301	NUM
ajeer-236	194	28	)	)	PUNCT
ajeer-236	194	29	,	,	PUNCT
ajeer-236	194	30	na	na	ADP
ajeer-236	194	31	ya	ya	PROPN
ajeer-236	194	32	plastics	plastic	NOUN
ajeer-236	194	33	(	(	PUNCT
ajeer-236	194	34	1303	1303	NUM
ajeer-236	194	35	)	)	PUNCT
ajeer-236	194	36	,	,	PUNCT
ajeer-236	194	37	formosa	formosa	NOUN
ajeer-236	194	38	petrochemical	petrochemical	NOUN
ajeer-236	194	39	(	(	PUNCT
ajeer-236	194	40	6505	6505	NUM
ajeer-236	194	41	)	)	PUNCT
ajeer-236	194	42	,	,	PUNCT
ajeer-236	194	43	formosa	formosa	PROPN
ajeer-236	194	44	chemicals	chemicals	PROPN
ajeer-236	194	45	&	&	CCONJ
ajeer-236	194	46	fibre	fibre	PROPN
ajeer-236	194	47	(	(	PUNCT
ajeer-236	194	48	1326	1326	NUM
ajeer-236	194	49	)	)	PUNCT
ajeer-236	194	50	,	,	PUNCT
ajeer-236	194	51	formosa	formosa	PROPN
ajeer-236	194	52	taffeta	taffeta	PROPN
ajeer-236	194	53	(	(	PUNCT
ajeer-236	194	54	1434	1434	NUM
ajeer-236	194	55	)	)	PUNCT
ajeer-236	194	56	,	,	PUNCT
ajeer-236	194	57	nanya	nanya	NOUN
ajeer-236	194	58	technology	technology	NOUN
ajeer-236	194	59	(	(	PUNCT
ajeer-236	194	60	2408	2408	NUM
ajeer-236	194	61	)	)	PUNCT
ajeer-236	194	62	,	,	PUNCT
ajeer-236	194	63	nan	nan	PROPN
ajeer-236	194	64	ya	ya	PROPN
ajeer-236	194	65	printed	print	VERB
ajeer-236	194	66	circuit	circuit	PROPN
ajeer-236	194	67	board	board	NOUN
ajeer-236	194	68	(	(	PUNCT
ajeer-236	194	69	8046	8046	NUM
ajeer-236	194	70	)	)	PUNCT
ajeer-236	194	71	and	and	CCONJ
ajeer-236	194	72	formosa	formosa	PROPN
ajeer-236	194	73	advanced	advanced	PROPN
ajeer-236	194	74	technologies	technology	NOUN
ajeer-236	194	75	(	(	PUNCT
ajeer-236	194	76	8131	8131	NUM
ajeer-236	194	77	)	)	PUNCT
ajeer-236	194	78	and	and	CCONJ
ajeer-236	194	79	formosa	formosa	PROPN
ajeer-236	194	80	sumco	sumco	PROPN
ajeer-236	194	81	technology	technology	PROPN
ajeer-236	194	82	(	(	PUNCT
ajeer-236	194	83	3532	3532	NUM
ajeer-236	194	84	)	)	PUNCT
ajeer-236	194	85	)	)	PUNCT
ajeer-236	194	86	and	and	CCONJ
ajeer-236	194	87	taiwan	taiwan	PROPN
ajeer-236	194	88	50	50	NUM
ajeer-236	194	89	etf	etf	NOUN
ajeer-236	194	90	(	(	PUNCT
ajeer-236	194	91	0050	0050	NUM
ajeer-236	194	92	)	)	PUNCT
ajeer-236	194	93	are	be	AUX
ajeer-236	194	94	included	include	VERB
ajeer-236	194	95	as	as	ADP
ajeer-236	194	96	filters	filter	NOUN
ajeer-236	194	97	.	.	PUNCT
ajeer-236	195	1	that	that	ADV
ajeer-236	195	2	is	is	ADV
ajeer-236	195	3	,	,	PUNCT
ajeer-236	195	4	this	this	DET
ajeer-236	195	5	study	study	NOUN
ajeer-236	195	6	has	have	VERB
ajeer-236	195	7	10	10	NUM
ajeer-236	195	8	sample	sample	NOUN
ajeer-236	195	9	set	set	NOUN
ajeer-236	195	10	of	of	ADP
ajeer-236	195	11	time	time	NOUN
ajeer-236	195	12	series	series	PROPN
ajeer-236	195	13	data	data	PROPN
ajeer-236	195	14	.	.	PUNCT
ajeer-236	196	1	the	the	DET
ajeer-236	196	2	sample	sample	NOUN
ajeer-236	196	3	period	period	NOUN
ajeer-236	196	4	covers	cover	VERB
ajeer-236	196	5	from	from	ADP
ajeer-236	196	6	10	10	NUM
ajeer-236	196	7	december	december	PROPN
ajeer-236	196	8	2007	2007	NUM
ajeer-236	196	9	to	to	ADP
ajeer-236	196	10	10	10	NUM
ajeer-236	196	11	august	august	PROPN
ajeer-236	196	12	2017	2017	NUM
ajeer-236	196	13	;	;	PUNCT
ajeer-236	196	14	that	that	PRON
ajeer-236	196	15	is	is	ADV
ajeer-236	196	16	,	,	PUNCT
ajeer-236	196	17	a	a	DET
ajeer-236	196	18	total	total	NOUN
ajeer-236	196	19	of	of	ADP
ajeer-236	196	20	2393	2393	NUM
ajeer-236	196	21	daily	daily	ADJ
ajeer-236	196	22	sample	sample	NOUN
ajeer-236	196	23	data.7	data.7	PROPN
ajeer-236	196	24	as	as	ADP
ajeer-236	196	25	for	for	ADP
ajeer-236	196	26	the	the	DET
ajeer-236	196	27	far	far	ADV
ajeer-236	196	28	eastern	eastern	ADJ
ajeer-236	196	29	group	group	NOUN
ajeer-236	196	30	,	,	PUNCT
ajeer-236	196	31	eight	eight	NUM
ajeer-236	196	32	publicly	publicly	ADV
ajeer-236	196	33	listed	list	VERB
ajeer-236	196	34	companies	company	NOUN
ajeer-236	196	35	(	(	PUNCT
ajeer-236	196	36	including	include	VERB
ajeer-236	196	37	asia	asia	PROPN
ajeer-236	196	38	cement	cement	NOUN
ajeer-236	196	39	(	(	PUNCT
ajeer-236	196	40	1102	1102	NUM
ajeer-236	196	41	)	)	PUNCT
ajeer-236	196	42	,	,	PUNCT
ajeer-236	196	43	far	far	ADV
ajeer-236	196	44	eastern	eastern	ADJ
ajeer-236	196	45	new	new	ADJ
ajeer-236	196	46	century	century	NOUN
ajeer-236	196	47	(	(	PUNCT
ajeer-236	196	48	1402	1402	NUM
ajeer-236	196	49	)	)	PUNCT
ajeer-236	196	50	,	,	PUNCT
ajeer-236	196	51	everest	everest	PROPN
ajeer-236	196	52	textile	textile	NOUN
ajeer-236	196	53	(	(	PUNCT
ajeer-236	196	54	1460	1460	NUM
ajeer-236	196	55	)	)	PUNCT
ajeer-236	196	56	,	,	PUNCT
ajeer-236	196	57	oriental	oriental	ADJ
ajeer-236	196	58	union	union	PROPN
ajeer-236	196	59	chemical	chemical	NOUN
ajeer-236	196	60	(	(	PUNCT
ajeer-236	196	61	1710	1710	NUM
ajeer-236	196	62	)	)	PUNCT
ajeer-236	196	63	,	,	PUNCT
ajeer-236	196	64	u	u	NOUN
ajeer-236	196	65	-	-	ADJ
ajeer-236	196	66	ming	ming	ADJ
ajeer-236	196	67	marine	marine	PROPN
ajeer-236	196	68	(	(	PUNCT
ajeer-236	196	69	2606	2606	NUM
ajeer-236	196	70	)	)	PUNCT
ajeer-236	196	71	,	,	PUNCT
ajeer-236	196	72	far	far	ADV
ajeer-236	196	73	eastern	eastern	PROPN
ajeer-236	196	74	international	international	PROPN
ajeer-236	196	75	bank	bank	PROPN
ajeer-236	196	76	(	(	PUNCT
ajeer-236	196	77	2845	2845	NUM
ajeer-236	196	78	)	)	PUNCT
ajeer-236	196	79	,	,	PUNCT
ajeer-236	196	80	far	far	ADV
ajeer-236	196	81	eastern	eastern	ADJ
ajeer-236	196	82	department	department	NOUN
ajeer-236	196	83	stores	store	NOUN
ajeer-236	196	84	(	(	PUNCT
ajeer-236	196	85	2903	2903	NUM
ajeer-236	196	86	)	)	PUNCT
ajeer-236	196	87	,	,	PUNCT
ajeer-236	196	88	far	far	ADV
ajeer-236	196	89	estone	estone	NOUN
ajeer-236	196	90	telecommunications	telecommunication	NOUN
ajeer-236	196	91	(	(	PUNCT
ajeer-236	196	92	4904	4904	NUM
ajeer-236	196	93	)	)	PUNCT
ajeer-236	196	94	)	)	PUNCT
ajeer-236	196	95	and	and	CCONJ
ajeer-236	196	96	taiwan	taiwan	PROPN
ajeer-236	196	97	50	50	NUM
ajeer-236	196	98	etf	etf	NOUN
ajeer-236	196	99	(	(	PUNCT
ajeer-236	196	100	0050	0050	NUM
ajeer-236	196	101	)	)	PUNCT
ajeer-236	196	102	are	be	AUX
ajeer-236	196	103	included	include	VERB
ajeer-236	196	104	as	as	ADP
ajeer-236	196	105	filters	filter	NOUN
ajeer-236	196	106	.	.	PUNCT
ajeer-236	197	1	that	that	PRON
ajeer-236	197	2	is	is	ADV
ajeer-236	197	3	,	,	PUNCT
ajeer-236	197	4	nine	nine	NUM
ajeer-236	197	5	sample	sample	NOUN
ajeer-236	197	6	sets	set	NOUN
ajeer-236	197	7	of	of	ADP
ajeer-236	197	8	time	time	NOUN
ajeer-236	197	9	series	series	PROPN
ajeer-236	197	10	data	datum	NOUN
ajeer-236	197	11	are	be	AUX
ajeer-236	197	12	investigated	investigate	VERB
ajeer-236	197	13	.	.	PUNCT
ajeer-236	198	1	the	the	DET
ajeer-236	198	2	sample	sample	NOUN
ajeer-236	198	3	period	period	NOUN
ajeer-236	198	4	covers	cover	VERB
ajeer-236	198	5	from	from	ADP
ajeer-236	198	6	29	29	NUM
ajeer-236	198	7	october	october	PROPN
ajeer-236	198	8	2007	2007	NUM
ajeer-236	198	9	,	,	PUNCT
ajeer-236	198	10	the	the	DET
ajeer-236	198	11	peak	peak	NOUN
ajeer-236	198	12	before	before	ADP
ajeer-236	198	13	financial	financial	ADJ
ajeer-236	198	14	tsunami	tsunami	NOUN
ajeer-236	198	15	,	,	PUNCT
ajeer-236	198	16	to	to	ADP
ajeer-236	198	17	10	10	NUM
ajeer-236	198	18	august	august	PROPN
ajeer-236	198	19	2017	2017	NUM
ajeer-236	198	20	;	;	PUNCT
ajeer-236	198	21	that	that	PRON
ajeer-236	198	22	is	is	ADV
ajeer-236	198	23	,	,	PUNCT
ajeer-236	198	24	a	a	DET
ajeer-236	198	25	total	total	NOUN
ajeer-236	198	26	of	of	ADP
ajeer-236	198	27	2423	2423	NUM
ajeer-236	198	28	daily	daily	ADJ
ajeer-236	198	29	sample	sample	NOUN
ajeer-236	198	30	data	datum	NOUN
ajeer-236	198	31	.	.	PUNCT
ajeer-236	199	1	all	all	DET
ajeer-236	199	2	the	the	DET
ajeer-236	199	3	data	datum	NOUN
ajeer-236	199	4	mentioned	mention	VERB
ajeer-236	199	5	above	above	ADV
ajeer-236	199	6	are	be	AUX
ajeer-236	199	7	obtained	obtain	VERB
ajeer-236	199	8	from	from	ADP
ajeer-236	199	9	tej	tej	ADJ
ajeer-236	199	10	database	database	NOUN
ajeer-236	199	11	and	and	CCONJ
ajeer-236	199	12	multicharts	multichart	NOUN
ajeer-236	199	13	daily	daily	ADJ
ajeer-236	199	14	stock	stock	NOUN
ajeer-236	199	15	price	price	NOUN
ajeer-236	199	16	database	database	NOUN
ajeer-236	199	17	.	.	PUNCT
ajeer-236	200	1	to	to	PART
ajeer-236	200	2	ensure	ensure	VERB
ajeer-236	200	3	that	that	SCONJ
ajeer-236	200	4	integrity	integrity	NOUN
ajeer-236	200	5	of	of	ADP
ajeer-236	200	6	the	the	DET
ajeer-236	200	7	model	model	NOUN
ajeer-236	200	8	,	,	PUNCT
ajeer-236	200	9	the	the	DET
ajeer-236	200	10	experiments	experiment	NOUN
ajeer-236	200	11	are	be	AUX
ajeer-236	200	12	carried	carry	VERB
ajeer-236	200	13	out	out	ADP
ajeer-236	200	14	in	in	ADP
ajeer-236	200	15	two	two	NUM
ajeer-236	200	16	stages	stage	NOUN
ajeer-236	200	17	.	.	PUNCT
ajeer-236	201	1	for	for	ADP
ajeer-236	201	2	the	the	DET
ajeer-236	201	3	formosa	formosa	PROPN
ajeer-236	201	4	plastics	plastic	NOUN
ajeer-236	201	5	group	group	NOUN
ajeer-236	201	6	,	,	PUNCT
ajeer-236	201	7	the	the	DET
ajeer-236	201	8	first	first	ADJ
ajeer-236	201	9	stage	stage	NOUN
ajeer-236	201	10	covers	cover	VERB
ajeer-236	201	11	the	the	DET
ajeer-236	201	12	period	period	NOUN
ajeer-236	201	13	from	from	ADP
ajeer-236	201	14	2007.12.10~2014.12.29	2007.12.10~2014.12.29	NUM
ajeer-236	201	15	(	(	PUNCT
ajeer-236	201	16	which	which	PRON
ajeer-236	201	17	is	be	AUX
ajeer-236	201	18	the	the	DET
ajeer-236	201	19	end	end	NOUN
ajeer-236	201	20	of	of	ADP
ajeer-236	201	21	qe	qe	PROPN
ajeer-236	201	22	)	)	PUNCT
ajeer-236	201	23	.	.	PUNCT
ajeer-236	202	1	the	the	DET
ajeer-236	202	2	second	second	ADJ
ajeer-236	202	3	stage	stage	NOUN
ajeer-236	202	4	covers	cover	VERB
ajeer-236	202	5	the	the	DET
ajeer-236	202	6	period	period	NOUN
ajeer-236	202	7	from	from	ADP
ajeer-236	202	8	2007.12.10~2017.8.10	2007.12.10~2017.8.10	NUM
ajeer-236	202	9	.	.	PUNCT
ajeer-236	203	1	as	as	ADP
ajeer-236	203	2	for	for	ADP
ajeer-236	203	3	the	the	DET
ajeer-236	203	4	far	far	ADV
ajeer-236	203	5	eastern	eastern	ADJ
ajeer-236	203	6	group	group	NOUN
ajeer-236	203	7	,	,	PUNCT
ajeer-236	203	8	only	only	ADV
ajeer-236	203	9	the	the	DET
ajeer-236	203	10	starting	starting	NOUN
ajeer-236	203	11	date	date	NOUN
ajeer-236	203	12	differs	differ	NOUN
ajeer-236	203	13	,	,	PUNCT
ajeer-236	203	14	where	where	SCONJ
ajeer-236	203	15	the	the	DET
ajeer-236	203	16	sample	sample	NOUN
ajeer-236	203	17	period	period	NOUN
ajeer-236	203	18	starts	start	VERB
ajeer-236	203	19	on	on	ADP
ajeer-236	203	20	29	29	NUM
ajeer-236	203	21	october	october	NOUN
ajeer-236	203	22	2007	2007	NUM
ajeer-236	203	23	.	.	PUNCT
ajeer-236	204	1	the	the	DET
ajeer-236	204	2	method	method	NOUN
ajeer-236	204	3	of	of	ADP
ajeer-236	204	4	testing	test	VERB
ajeer-236	204	5	the	the	DET
ajeer-236	204	6	far	far	ADV
ajeer-236	204	7	eastern	eastern	ADJ
ajeer-236	204	8	group	group	NOUN
ajeer-236	204	9	is	be	AUX
ajeer-236	204	10	the	the	DET
ajeer-236	204	11	same	same	ADJ
ajeer-236	204	12	as	as	ADP
ajeer-236	204	13	the	the	DET
ajeer-236	204	14	formosa	formosa	PROPN
ajeer-236	204	15	plastics	plastic	NOUN
ajeer-236	204	16	group	group	NOUN
ajeer-236	204	17	.	.	PUNCT
ajeer-236	205	1	the	the	DET
ajeer-236	205	2	parameters	parameter	NOUN
ajeer-236	205	3	used	use	VERB
ajeer-236	205	4	in	in	ADP
ajeer-236	205	5	the	the	DET
ajeer-236	205	6	second	second	ADJ
ajeer-236	205	7	stage	stage	NOUN
ajeer-236	205	8	of	of	ADP
ajeer-236	205	9	simulation	simulation	NOUN
ajeer-236	205	10	are	be	AUX
ajeer-236	205	11	based	base	VERB
ajeer-236	205	12	on	on	ADP
ajeer-236	205	13	the	the	DET
ajeer-236	205	14	optimal	optimal	ADJ
ajeer-236	205	15	parameters	parameter	NOUN
ajeer-236	205	16	from	from	ADP
ajeer-236	205	17	the	the	DET
ajeer-236	205	18	first	first	ADJ
ajeer-236	205	19	stage	stage	NOUN
ajeer-236	205	20	.	.	PUNCT
ajeer-236	206	1	the	the	DET
ajeer-236	206	2	trading	trading	NOUN
ajeer-236	206	3	cost	cost	NOUN
ajeer-236	206	4	in	in	ADP
ajeer-236	206	5	simulated	simulate	VERB
ajeer-236	206	6	models	model	NOUN
ajeer-236	206	7	is	be	AUX
ajeer-236	206	8	assumed	assume	VERB
ajeer-236	206	9	to	to	PART
ajeer-236	206	10	be	be	AUX
ajeer-236	206	11	about	about	ADV
ajeer-236	206	12	1	1	NUM
ajeer-236	206	13	%	%	NOUN
ajeer-236	206	14	of	of	ADP
ajeer-236	206	15	the	the	DET
ajeer-236	206	16	200	200	NUM
ajeer-236	206	17	-	-	PUNCT
ajeer-236	206	18	day	day	NOUN
ajeer-236	206	19	moving	move	VERB
ajeer-236	206	20	average	average	NOUN
ajeer-236	206	21	of	of	ADP
ajeer-236	206	22	the	the	DET
ajeer-236	206	23	underlying	underlying	ADJ
ajeer-236	206	24	company‟s	company‟s	ADJ
ajeer-236	206	25	stock	stock	NOUN
ajeer-236	206	26	prices	price	NOUN
ajeer-236	206	27	.	.	PUNCT
ajeer-236	207	1	transaction	transaction	NOUN
ajeer-236	207	2	fees	fee	NOUN
ajeer-236	207	3	and	and	CCONJ
ajeer-236	207	4	slippage	slippage	NOUN
ajeer-236	207	5	are	be	AUX
ajeer-236	207	6	not	not	PART
ajeer-236	207	7	considered	consider	VERB
ajeer-236	207	8	in	in	ADP
ajeer-236	207	9	the	the	DET
ajeer-236	207	10	experiments	experiment	NOUN
ajeer-236	207	11	.	.	PUNCT
ajeer-236	208	1	5	5	X
ajeer-236	208	2	.	.	PUNCT
ajeer-236	208	3	empirical	empirical	ADJ
ajeer-236	208	4	results	result	NOUN
ajeer-236	208	5	of	of	ADP
ajeer-236	208	6	the	the	DET
ajeer-236	208	7	formosa	formosa	PROPN
ajeer-236	208	8	plastics	plastics	PROPN
ajeer-236	208	9	group	group	NOUN
ajeer-236	208	10	5.1	5.1	NUM
ajeer-236	208	11	.	.	PUNCT
ajeer-236	209	1	granger	granger	PROPN
ajeer-236	209	2	causality	causality	PROPN
ajeer-236	209	3	test	test	NOUN
ajeer-236	209	4	of	of	ADP
ajeer-236	209	5	formosa	formosa	PROPN
ajeer-236	209	6	plastics	plastic	NOUN
ajeer-236	209	7	group	group	PROPN
ajeer-236	209	8	5.1.1	5.1.1	NOUN
ajeer-236	209	9	.	.	PUNCT
ajeer-236	209	10	unit	unit	NOUN
ajeer-236	209	11	root	root	PROPN
ajeer-236	209	12	test	test	NOUN
ajeer-236	209	13	of	of	ADP
ajeer-236	209	14	model	model	NOUN
ajeer-236	209	15	variables	variable	NOUN
ajeer-236	209	16	to	to	PART
ajeer-236	209	17	ensure	ensure	VERB
ajeer-236	209	18	the	the	DET
ajeer-236	209	19	validity	validity	NOUN
ajeer-236	209	20	of	of	ADP
ajeer-236	209	21	empirical	empirical	ADJ
ajeer-236	209	22	results	result	NOUN
ajeer-236	209	23	,	,	PUNCT
ajeer-236	209	24	we	we	PRON
ajeer-236	209	25	need	need	VERB
ajeer-236	209	26	to	to	PART
ajeer-236	209	27	ensure	ensure	VERB
ajeer-236	209	28	the	the	DET
ajeer-236	209	29	stationarity	stationarity	NOUN
ajeer-236	209	30	of	of	ADP
ajeer-236	209	31	the	the	DET
ajeer-236	209	32	series	series	NOUN
ajeer-236	209	33	by	by	ADP
ajeer-236	209	34	testing	test	VERB
ajeer-236	209	35	the	the	DET
ajeer-236	209	36	var	var	NOUN
ajeer-236	209	37	model	model	NOUN
ajeer-236	209	38	and	and	CCONJ
ajeer-236	209	39	choosing	choose	VERB
ajeer-236	209	40	the	the	DET
ajeer-236	209	41	minimal	minimal	ADJ
ajeer-236	209	42	aic	aic	PROPN
ajeer-236	209	43	value	value	NOUN
ajeer-236	209	44	.	.	PUNCT
ajeer-236	210	1	the	the	DET
ajeer-236	210	2	results	result	NOUN
ajeer-236	210	3	of	of	ADP
ajeer-236	210	4	formosa	formosa	PROPN
ajeer-236	210	5	plastics	plastic	NOUN
ajeer-236	210	6	group	group	NOUN
ajeer-236	210	7	are	be	AUX
ajeer-236	210	8	as	as	SCONJ
ajeer-236	210	9	follows	follow	VERB
ajeer-236	210	10	.	.	PUNCT
ajeer-236	211	1	including	include	VERB
ajeer-236	211	2	the	the	DET
ajeer-236	211	3	intercept	intercept	NOUN
ajeer-236	211	4	and	and	CCONJ
ajeer-236	211	5	trend	trend	NOUN
ajeer-236	211	6	(	(	PUNCT
ajeer-236	211	7	2.7044(0	2.7044(0	NUM
ajeer-236	211	8	)	)	PUNCT
ajeer-236	211	9	)	)	PUNCT
ajeer-236	211	10	does	do	AUX
ajeer-236	211	11	not	not	PART
ajeer-236	211	12	reject	reject	VERB
ajeer-236	211	13	the	the	DET
ajeer-236	211	14	null	null	ADJ
ajeer-236	211	15	hypothesis	hypothesis	NOUN
ajeer-236	211	16	.	.	PUNCT
ajeer-236	212	1	that	that	PRON
ajeer-236	212	2	is	is	ADV
ajeer-236	212	3	,	,	PUNCT
ajeer-236	212	4	the	the	DET
ajeer-236	212	5	variables	variable	NOUN
ajeer-236	212	6	are	be	AUX
ajeer-236	212	7	not	not	PART
ajeer-236	212	8	stationary	stationary	ADJ
ajeer-236	212	9	,	,	PUNCT
ajeer-236	212	10	have	have	VERB
ajeer-236	212	11	fat	fat	ADJ
ajeer-236	212	12	tails	tail	NOUN
ajeer-236	212	13	that	that	PRON
ajeer-236	212	14	are	be	AUX
ajeer-236	212	15	often	often	ADV
ajeer-236	212	16	observed	observe	VERB
ajeer-236	212	17	in	in	ADP
ajeer-236	212	18	financial	financial	ADJ
ajeer-236	212	19	data	datum	NOUN
ajeer-236	212	20	,	,	PUNCT
ajeer-236	212	21	and	and	CCONJ
ajeer-236	212	22	have	have	VERB
ajeer-236	212	23	autocorrelations	autocorrelation	NOUN
ajeer-236	212	24	.	.	PUNCT
ajeer-236	213	1	therefore	therefore	ADV
ajeer-236	213	2	,	,	PUNCT
ajeer-236	213	3	i(0	i(0	PROPN
ajeer-236	213	4	)	)	PUNCT
ajeer-236	213	5	is	be	AUX
ajeer-236	213	6	not	not	PART
ajeer-236	213	7	stationary	stationary	ADJ
ajeer-236	213	8	.	.	PUNCT
ajeer-236	214	1	after	after	ADP
ajeer-236	214	2	taking	take	VERB
ajeer-236	214	3	a	a	DET
ajeer-236	214	4	difference	difference	NOUN
ajeer-236	214	5	(	(	PUNCT
ajeer-236	214	6	.46.4714(0	.46.4714(0	NOUN
ajeer-236	214	7	)	)	PUNCT
ajeer-236	214	8	)	)	PUNCT
ajeer-236	214	9	,	,	PUNCT
ajeer-236	214	10	the	the	DET
ajeer-236	214	11	null	null	ADJ
ajeer-236	214	12	hypothesis	hypothesis	NOUN
ajeer-236	214	13	is	be	AUX
ajeer-236	214	14	rejected	reject	VERB
ajeer-236	214	15	and	and	CCONJ
ajeer-236	214	16	i(1	i(1	PROPN
ajeer-236	214	17	)	)	PUNCT
ajeer-236	214	18	is	be	AUX
ajeer-236	214	19	stationary	stationary	ADJ
ajeer-236	214	20	(	(	PUNCT
ajeer-236	214	21	table	table	NOUN
ajeer-236	214	22	1	1	NUM
ajeer-236	214	23	)	)	PUNCT
ajeer-236	214	24	.	.	PUNCT
ajeer-236	215	1	therefore	therefore	ADV
ajeer-236	215	2	,	,	PUNCT
ajeer-236	215	3	we	we	PRON
ajeer-236	215	4	can	can	AUX
ajeer-236	215	5	proceed	proceed	VERB
ajeer-236	215	6	with	with	ADP
ajeer-236	215	7	var	var	NOUN
ajeer-236	215	8	and	and	CCONJ
ajeer-236	215	9	johansen	johansen	PROPN
ajeer-236	215	10	co	co	PROPN
ajeer-236	215	11	-	-	NOUN
ajeer-236	215	12	integration	integration	NOUN
ajeer-236	215	13	test	test	NOUN
ajeer-236	215	14	.	.	PUNCT
ajeer-236	216	1	table-1	table-1	NUM
ajeer-236	216	2	.	.	PUNCT
ajeer-236	216	3	unit	unit	NOUN
ajeer-236	216	4	root	root	PROPN
ajeer-236	216	5	test	test	NOUN
ajeer-236	216	6	of	of	ADP
ajeer-236	216	7	var	var	PROPN
ajeer-236	216	8	model	model	NOUN
ajeer-236	216	9	variables	variable	NOUN
ajeer-236	216	10	of	of	ADP
ajeer-236	216	11	formosa	formosa	PROPN
ajeer-236	216	12	plastics	plastic	NOUN
ajeer-236	216	13	group	group	NOUN
ajeer-236	216	14	original	original	ADJ
ajeer-236	216	15	value	value	NOUN
ajeer-236	216	16	first	first	ADJ
ajeer-236	216	17	order	order	NOUN
ajeer-236	216	18	difference	difference	NOUN
ajeer-236	216	19	variables	variable	NOUN
ajeer-236	216	20	/	/	SYM
ajeer-236	216	21	model	model	NOUN
ajeer-236	216	22	intercept	intercept	NOUN
ajeer-236	216	23	and	and	CCONJ
ajeer-236	216	24	trend	trend	NOUN
ajeer-236	216	25	intercept	intercept	NOUN
ajeer-236	216	26	and	and	CCONJ
ajeer-236	216	27	trend	trend	NOUN
ajeer-236	216	28	a1301	a1301	NUM
ajeer-236	216	29	-2.7044(0	-2.7044(0	NOUN
ajeer-236	216	30	)	)	PUNCT
ajeer-236	216	31	-3.4905(1	-3.4905(1	NOUN
ajeer-236	216	32	)	)	PUNCT
ajeer-236	216	33	*	*	PUNCT
ajeer-236	216	34	*	*	PUNCT
ajeer-236	216	35	-2.5880(1	-2.5880(1	X
ajeer-236	216	36	)	)	PUNCT
ajeer-236	216	37	-3.6787(0	-3.6787(0	PROPN
ajeer-236	216	38	)	)	PUNCT
ajeer-236	217	1	*	*	PUNCT
ajeer-236	217	2	*	*	PUNCT
ajeer-236	217	3	-2.3178(0	-2.3178(0	NUM
ajeer-236	217	4	)	)	PUNCT
ajeer-236	217	5	-3.2634(1	-3.2634(1	PROPN
ajeer-236	217	6	)	)	PUNCT
ajeer-236	218	1	*	*	PUNCT
ajeer-236	219	1	*	*	PUNCT
ajeer-236	219	2	*	*	PUNCT
ajeer-236	219	3	-3.3609(0	-3.3609(0	NOUN
ajeer-236	219	4	)	)	PUNCT
ajeer-236	219	5	*	*	PUNCT
ajeer-236	220	1	*	*	PUNCT
ajeer-236	220	2	*	*	PUNCT
ajeer-236	220	3	-4.2184(0	-4.2184(0	X
ajeer-236	220	4	)	)	PUNCT
ajeer-236	221	1	*	*	PUNCT
ajeer-236	221	2	*	*	PUNCT
ajeer-236	221	3	-2.8096(1	-2.8096(1	X
ajeer-236	221	4	)	)	PUNCT
ajeer-236	221	5	-2.8347(0	-2.8347(0	PROPN
ajeer-236	221	6	)	)	PUNCT
ajeer-236	221	7	-46.4714(0	-46.4714(0	NOUN
ajeer-236	221	8	)	)	PUNCT
ajeer-236	221	9	*	*	PUNCT
ajeer-236	222	1	-44.9050(0	-44.9050(0	PROPN
ajeer-236	222	2	)	)	PUNCT
ajeer-236	222	3	*	*	PUNCT
ajeer-236	223	1	-45.5030(0	-45.5030(0	PROPN
ajeer-236	223	2	)	)	PUNCT
ajeer-236	223	3	*	*	PUNCT
ajeer-236	224	1	-50.9778(0	-50.9778(0	NUM
ajeer-236	224	2	)	)	PUNCT
ajeer-236	224	3	*	*	PUNCT
ajeer-236	225	1	-47.7780(0	-47.7780(0	NOUN
ajeer-236	225	2	)	)	PUNCT
ajeer-236	225	3	*	*	PUNCT
ajeer-236	226	1	-44.5537(0	-44.5537(0	PROPN
ajeer-236	226	2	)	)	PUNCT
ajeer-236	226	3	*	*	PUNCT
ajeer-236	227	1	-50.3610(0	-50.3610(0	PROPN
ajeer-236	227	2	)	)	PUNCT
ajeer-236	227	3	*	*	PUNCT
ajeer-236	227	4	-47.3754(0	-47.3754(0	PROPN
ajeer-236	227	5	)	)	PUNCT
ajeer-236	227	6	*	*	PUNCT
ajeer-236	228	1	-47.5000(0	-47.5000(0	PROPN
ajeer-236	228	2	)	)	PUNCT
ajeer-236	228	3	*	*	PUNCT
ajeer-236	229	1	-48.7114(0	-48.7114(0	PROPN
ajeer-236	229	2	)	)	PUNCT
ajeer-236	229	3	*	*	PUNCT
ajeer-236	229	4	a1303	a1303	PROPN
ajeer-236	229	5	a1326	a1326	NOUN
ajeer-236	229	6	a1434	a1434	NOUN
ajeer-236	229	7	a2408	a2408	PROPN
ajeer-236	229	8	a3532	a3532	PROPN
ajeer-236	230	1	a6505	a6505	PROPN
ajeer-236	230	2	a8046	a8046	PROPN
ajeer-236	230	3	a8131	a8131	PROPN
ajeer-236	230	4	a50	a50	NOUN
ajeer-236	230	5	note	note	NOUN
ajeer-236	230	6	:	:	PUNCT
ajeer-236	230	7	*	*	PUNCT
ajeer-236	230	8	，	，	PROPN
ajeer-236	230	9	*	*	PUNCT
ajeer-236	230	10	*	*	PUNCT
ajeer-236	230	11	，	，	PROPN
ajeer-236	230	12	*	*	PUNCT
ajeer-236	230	13	*	*	PUNCT
ajeer-236	230	14	*	*	PUNCT
ajeer-236	230	15	shows	show	VERB
ajeer-236	230	16	significance	significance	NOUN
ajeer-236	230	17	level	level	NOUN
ajeer-236	230	18	at	at	ADP
ajeer-236	230	19	1	1	NUM
ajeer-236	230	20	%	%	NOUN
ajeer-236	230	21	,	,	PUNCT
ajeer-236	230	22	5	5	NUM
ajeer-236	230	23	%	%	NOUN
ajeer-236	230	24	and	and	CCONJ
ajeer-236	230	25	10	10	NUM
ajeer-236	230	26	%	%	NOUN
ajeer-236	230	27	.	.	PUNCT
ajeer-236	231	1	the	the	DET
ajeer-236	231	2	number	number	NOUN
ajeer-236	231	3	inside	inside	ADP
ajeer-236	231	4	the	the	DET
ajeer-236	231	5	bracket	bracket	NOUN
ajeer-236	231	6	represents	represent	VERB
ajeer-236	231	7	the	the	DET
ajeer-236	231	8	number	number	NOUN
ajeer-236	231	9	of	of	ADP
ajeer-236	231	10	lagging	lag	VERB
ajeer-236	231	11	periods	period	NOUN
ajeer-236	231	12	.	.	PUNCT
ajeer-236	232	1	(	(	PUNCT
ajeer-236	232	2	0	0	X
ajeer-236	232	3	)	)	PUNCT
ajeer-236	232	4	shows	show	VERB
ajeer-236	232	5	that	that	SCONJ
ajeer-236	232	6	when	when	SCONJ
ajeer-236	232	7	the	the	DET
ajeer-236	232	8	lag	lag	NOUN
ajeer-236	232	9	period	period	NOUN
ajeer-236	232	10	is	be	AUX
ajeer-236	232	11	0	0	NUM
ajeer-236	232	12	,	,	PUNCT
ajeer-236	232	13	it	it	PRON
ajeer-236	232	14	has	have	VERB
ajeer-236	232	15	the	the	DET
ajeer-236	232	16	minimal	minimal	ADJ
ajeer-236	232	17	aic	aic	PROPN
ajeer-236	232	18	.	.	PUNCT
ajeer-236	233	1	sample	sample	PROPN
ajeer-236	233	2	code	code	NOUN
ajeer-236	233	3	is	be	AUX
ajeer-236	233	4	as	as	SCONJ
ajeer-236	233	5	provided	provide	VERB
ajeer-236	233	6	in	in	ADP
ajeer-236	233	7	section	section	NOUN
ajeer-236	233	8	4	4	NUM
ajeer-236	233	9	.	.	PUNCT
ajeer-236	234	1	5.1.2	5.1.2	NUM
ajeer-236	234	2	.	.	NOUN
ajeer-236	234	3	lag	lag	NOUN
ajeer-236	234	4	period	period	NOUN
ajeer-236	234	5	test	test	NOUN
ajeer-236	234	6	of	of	ADP
ajeer-236	234	7	the	the	DET
ajeer-236	234	8	model	model	NOUN
ajeer-236	234	9	in	in	ADP
ajeer-236	234	10	order	order	NOUN
ajeer-236	234	11	to	to	PART
ajeer-236	234	12	proceed	proceed	VERB
ajeer-236	234	13	with	with	ADP
ajeer-236	234	14	the	the	DET
ajeer-236	234	15	var	var	PROPN
ajeer-236	234	16	model	model	PROPN
ajeer-236	234	17	estimation	estimation	PROPN
ajeer-236	234	18	,	,	PUNCT
ajeer-236	234	19	lagging	lag	VERB
ajeer-236	234	20	periods	period	NOUN
ajeer-236	234	21	must	must	AUX
ajeer-236	234	22	be	be	AUX
ajeer-236	234	23	tested	test	VERB
ajeer-236	234	24	first	first	ADV
ajeer-236	234	25	.	.	PUNCT
ajeer-236	235	1	the	the	DET
ajeer-236	235	2	results	result	NOUN
ajeer-236	235	3	show	show	VERB
ajeer-236	235	4	that	that	SCONJ
ajeer-236	235	5	the	the	DET
ajeer-236	235	6	aic	aic	PROPN
ajeer-236	235	7	and	and	CCONJ
ajeer-236	235	8	fpe	fpe	PROPN
ajeer-236	235	9	of	of	ADP
ajeer-236	235	10	the	the	DET
ajeer-236	235	11	formosa	formosa	PROPN
ajeer-236	235	12	plastics	plastic	NOUN
ajeer-236	235	13	group	group	NOUN
ajeer-236	235	14	are	be	AUX
ajeer-236	235	15	at	at	ADP
ajeer-236	235	16	their	their	PRON
ajeer-236	235	17	minimum	minimum	NOUN
ajeer-236	235	18	when	when	SCONJ
ajeer-236	235	19	the	the	DET
ajeer-236	235	20	data	datum	NOUN
ajeer-236	235	21	are	be	AUX
ajeer-236	235	22	lagged	lag	VERB
ajeer-236	235	23	8	8	NUM
ajeer-236	235	24	periods	period	NOUN
ajeer-236	235	25	(	(	PUNCT
ajeer-236	235	26	table	table	NOUN
ajeer-236	235	27	2	2	NUM
ajeer-236	235	28	)	)	PUNCT
ajeer-236	235	29	.	.	PUNCT
ajeer-236	236	1	this	this	DET
ajeer-236	236	2	study	study	NOUN
ajeer-236	236	3	also	also	ADV
ajeer-236	236	4	tests	test	VERB
ajeer-236	236	5	the	the	DET
ajeer-236	236	6	maximum	maximum	ADJ
ajeer-236	236	7	likelihood	likelihood	NOUN
ajeer-236	236	8	proposed	propose	VERB
ajeer-236	236	9	by	by	ADP
ajeer-236	236	10	johansen	johansen	PROPN
ajeer-236	236	11	and	and	CCONJ
ajeer-236	236	12	juselius	juselius	PROPN
ajeer-236	236	13	(	(	PUNCT
ajeer-236	236	14	1990	1990	NUM
ajeer-236	236	15	)	)	PUNCT
ajeer-236	236	16	to	to	PART
ajeer-236	236	17	examine	examine	VERB
ajeer-236	236	18	the	the	DET
ajeer-236	236	19	cointegration	cointegration	NOUN
ajeer-236	236	20	relationships	relationship	NOUN
ajeer-236	236	21	between	between	ADP
ajeer-236	236	22	multi	multi	NOUN
ajeer-236	236	23	-	-	NOUN
ajeer-236	236	24	variables	variable	NOUN
ajeer-236	236	25	.	.	PUNCT
ajeer-236	237	1	the	the	DET
ajeer-236	237	2	model	model	NOUN
ajeer-236	237	3	has	have	VERB
ajeer-236	237	4	five	five	NUM
ajeer-236	237	5	co	co	ADJ
ajeer-236	237	6	-	-	NOUN
ajeer-236	237	7	integration	integration	NOUN
ajeer-236	237	8	equations	equation	NOUN
ajeer-236	237	9	(	(	PUNCT
ajeer-236	237	10	table	table	NOUN
ajeer-236	237	11	3	3	NUM
ajeer-236	237	12	)	)	PUNCT
ajeer-236	237	13	.	.	PUNCT
ajeer-236	238	1	therefore	therefore	ADV
ajeer-236	238	2	,	,	PUNCT
ajeer-236	238	3	we	we	PRON
ajeer-236	238	4	can	can	AUX
ajeer-236	238	5	conduct	conduct	VERB
ajeer-236	238	6	the	the	DET
ajeer-236	238	7	granger	granger	PROPN
ajeer-236	238	8	causality	causality	PROPN
ajeer-236	238	9	test	test	NOUN
ajeer-236	238	10	.	.	PUNCT
ajeer-236	239	1	7as	7as	PROPN
ajeer-236	239	2	formosa	formosa	PROPN
ajeer-236	239	3	sumco	sumco	PROPN
ajeer-236	239	4	technology	technology	NOUN
ajeer-236	239	5	(	(	PUNCT
ajeer-236	239	6	3532	3532	NUM
ajeer-236	239	7	)	)	PUNCT
ajeer-236	239	8	was	be	AUX
ajeer-236	239	9	listed	list	VERB
ajeer-236	239	10	on	on	ADP
ajeer-236	239	11	10	10	NUM
ajeer-236	239	12	december	december	PROPN
ajeer-236	239	13	2007	2007	NUM
ajeer-236	239	14	,	,	PUNCT
ajeer-236	239	15	the	the	DET
ajeer-236	239	16	sample	sample	NOUN
ajeer-236	239	17	period	period	NOUN
ajeer-236	239	18	for	for	ADP
ajeer-236	239	19	formosa	formosa	PROPN
ajeer-236	239	20	plastics	plastic	NOUN
ajeer-236	239	21	group	group	NOUN
ajeer-236	239	22	started	start	VERB
ajeer-236	239	23	on	on	ADP
ajeer-236	239	24	that	that	DET
ajeer-236	239	25	day	day	NOUN
ajeer-236	239	26	.	.	PUNCT
ajeer-236	240	1	quang	quang	PROPN
ajeer-236	240	2	viet	viet	PROPN
ajeer-236	240	3	enterprise	enterprise	NOUN
ajeer-236	240	4	(	(	PUNCT
ajeer-236	240	5	4438	4438	NUM
ajeer-236	240	6	)	)	PUNCT
ajeer-236	240	7	was	be	AUX
ajeer-236	240	8	excluded	exclude	VERB
ajeer-236	240	9	from	from	ADP
ajeer-236	240	10	the	the	DET
ajeer-236	240	11	formosa	formosa	NOUN
ajeer-236	240	12	plastics	plastic	NOUN
ajeer-236	240	13	group‟s	group‟s	NUM
ajeer-236	240	14	sample	sample	NOUN
ajeer-236	240	15	as	as	SCONJ
ajeer-236	240	16	the	the	DET
ajeer-236	240	17	data	datum	NOUN
ajeer-236	240	18	of	of	ADP
ajeer-236	240	19	quang	quang	PROPN
ajeer-236	240	20	viet	viet	PROPN
ajeer-236	240	21	enterprise	enterprise	NOUN
ajeer-236	240	22	was	be	AUX
ajeer-236	240	23	available	available	ADJ
ajeer-236	240	24	after	after	ADP
ajeer-236	240	25	10	10	NUM
ajeer-236	240	26	december	december	PROPN
ajeer-236	240	27	2007	2007	NUM
ajeer-236	240	28	.	.	PUNCT
ajeer-236	241	1	asian	asian	ADJ
ajeer-236	241	2	journal	journal	PROPN
ajeer-236	241	3	of	of	ADP
ajeer-236	241	4	economics	economic	NOUN
ajeer-236	241	5	and	and	CCONJ
ajeer-236	241	6	empirical	empirical	ADJ
ajeer-236	241	7	research	research	NOUN
ajeer-236	241	8	,	,	PUNCT
ajeer-236	241	9	2017	2017	NUM
ajeer-236	241	10	,	,	PUNCT
ajeer-236	241	11	4(2	4(2	NUM
ajeer-236	241	12	):	):	PUNCT
ajeer-236	241	13	106	106	NUM
ajeer-236	241	14	-	-	SYM
ajeer-236	241	15	120	120	NUM
ajeer-236	241	16	111	111	NUM
ajeer-236	241	17	table-2	table-2	NUM
ajeer-236	241	18	.	.	PUNCT
ajeer-236	241	19	lag	lag	PROPN
ajeer-236	241	20	period	period	NOUN
ajeer-236	241	21	estimation	estimation	NOUN
ajeer-236	241	22	of	of	ADP
ajeer-236	241	23	formosa	formosa	PROPN
ajeer-236	241	24	plastics	plastic	NOUN
ajeer-236	241	25	group‟s	group‟s	X
ajeer-236	241	26	var	var	NOUN
ajeer-236	241	27	model	model	PROPN
ajeer-236	241	28	lag	lag	NOUN
ajeer-236	241	29	logl	logl	PROPN
ajeer-236	241	30	lr	lr	PROPN
ajeer-236	241	31	fpe	fpe	PROPN
ajeer-236	241	32	aic	aic	PROPN
ajeer-236	241	33	sc	sc	PROPN
ajeer-236	241	34	hq	hq	NOUN
ajeer-236	241	35	0	0	NUM
ajeer-236	242	1	-61799.68	-61799.68	NOUN
ajeer-236	242	2	na	na	PROPN
ajeer-236	242	3	1.29e+10	1.29e+10	NUM
ajeer-236	242	4	51.65874	51.65874	NUM
ajeer-236	242	5	51.68289	51.68289	NUM
ajeer-236	242	6	51.66753	51.66753	NUM
ajeer-236	242	7	1	1	NUM
ajeer-236	242	8	-34712.05	-34712.05	PROPN
ajeer-236	242	9	53926.22	53926.22	NUM
ajeer-236	242	10	2.063684	2.063684	NUM
ajeer-236	242	11	29.10326	29.10326	NUM
ajeer-236	242	12	29.36897	29.36897	NUM
ajeer-236	242	13	*	*	PUNCT
ajeer-236	242	14	29.19994	29.19994	NUM
ajeer-236	242	15	7	7	NUM
ajeer-236	242	16	-33026.5	-33026.5	NUM
ajeer-236	242	17	2440.603	2440.603	NUM
ajeer-236	242	18	0.833097	0.833097	NUM
ajeer-236	242	19	28.19599	28.19599	NUM
ajeer-236	242	20	29.911	29.911	NUM
ajeer-236	242	21	28.82000	28.82000	NUM
ajeer-236	242	22	*	*	SYM
ajeer-236	242	23	8	8	NUM
ajeer-236	242	24	-32926.22	-32926.22	PROPN
ajeer-236	242	25	193.7792	193.7792	NUM
ajeer-236	242	26	0.832969	0.832969	NUM
ajeer-236	242	27	*	*	SYM
ajeer-236	242	28	28.19575	28.19575	NUM
ajeer-236	242	29	*	*	SYM
ajeer-236	242	30	30.15231	30.15231	NUM
ajeer-236	242	31	28.90766	28.90766	NUM
ajeer-236	242	32	11	11	NUM
ajeer-236	242	33	-32689.69	-32689.69	NOUN
ajeer-236	242	34	126.8364	126.8364	NUM
ajeer-236	242	35	*	*	NOUN
ajeer-236	242	36	0.878709	0.878709	NUM
ajeer-236	242	37	28.2488	28.2488	NUM
ajeer-236	242	38	30.93001	30.93001	NUM
ajeer-236	242	39	29.22437	29.22437	NUM
ajeer-236	242	40	12	12	NUM
ajeer-236	243	1	-32640.19	-32640.19	NUM
ajeer-236	243	2	94.00331	94.00331	NUM
ajeer-236	243	3	0.916767	0.916767	NUM
ajeer-236	244	1	28.29101	28.29101	NUM
ajeer-236	244	2	31.21377	31.21377	NUM
ajeer-236	244	3	29.35447	29.35447	NUM
ajeer-236	244	4	table-3	table-3	NUM
ajeer-236	244	5	.	.	PUNCT
ajeer-236	245	1	co	co	NOUN
ajeer-236	245	2	-	-	NOUN
ajeer-236	245	3	integration	integration	NOUN
ajeer-236	245	4	estimation	estimation	NOUN
ajeer-236	245	5	results	result	NOUN
ajeer-236	245	6	of	of	ADP
ajeer-236	245	7	johansen	johansen	PROPN
ajeer-236	245	8	model	model	PROPN
ajeer-236	245	9	for	for	ADP
ajeer-236	245	10	formosa	formosa	PROPN
ajeer-236	245	11	plastics	plastic	NOUN
ajeer-236	245	12	group	group	PROPN
ajeer-236	245	13	trace	trace	NOUN
ajeer-236	245	14	max	max	PROPN
ajeer-236	245	15	-	-	PUNCT
ajeer-236	245	16	eigen	eigen	PROPN
ajeer-236	245	17	no	no	PROPN
ajeer-236	245	18	.	.	PROPN
ajeer-236	246	1	of	of	ADP
ajeer-236	246	2	ce(s	ce(s	ADV
ajeer-236	246	3	)	)	PUNCT
ajeer-236	246	4	eigenvalue	eigenvalue	NOUN
ajeer-236	246	5	statistic	statistic	ADJ
ajeer-236	246	6	critical	critical	ADJ
ajeer-236	246	7	value(0.05	value(0.05	NOUN
ajeer-236	246	8	)	)	PUNCT
ajeer-236	246	9	prob	prob	NOUN
ajeer-236	246	10	.	.	PUNCT
ajeer-236	247	1	statistic	statistic	ADJ
ajeer-236	247	2	critical	critical	ADJ
ajeer-236	247	3	value(0.05	value(0.05	NOUN
ajeer-236	247	4	)	)	PUNCT
ajeer-236	247	5	prob	prob	NOUN
ajeer-236	247	6	.	.	PUNCT
ajeer-236	248	1	none	none	NOUN
ajeer-236	248	2	*	*	PUNCT
ajeer-236	249	1	0.1982	0.1982	NUM
ajeer-236	249	2	1955.79	1955.79	NUM
ajeer-236	249	3	219.40	219.40	NUM
ajeer-236	249	4	0	0	NUM
ajeer-236	250	1	528.53	528.53	NUM
ajeer-236	250	2	61.03	61.03	NUM
ajeer-236	250	3	0.0001	0.0001	NUM
ajeer-236	250	4	at	at	ADP
ajeer-236	250	5	most	most	ADJ
ajeer-236	250	6	1	1	NUM
ajeer-236	250	7	*	*	NUM
ajeer-236	250	8	0.1573	0.1573	NUM
ajeer-236	250	9	1427.26	1427.26	NUM
ajeer-236	250	10	179.51	179.51	NUM
ajeer-236	250	11	0	0	NUM
ajeer-236	250	12	409.64	409.64	NUM
ajeer-236	250	13	54.97	54.97	NUM
ajeer-236	250	14	0.0001	0.0001	NUM
ajeer-236	250	15	at	at	ADP
ajeer-236	250	16	most	most	ADJ
ajeer-236	250	17	2	2	NUM
ajeer-236	250	18	*	*	SYM
ajeer-236	250	19	0.1373	0.1373	NUM
ajeer-236	250	20	1017.62	1017.62	NUM
ajeer-236	250	21	143.67	143.67	NUM
ajeer-236	250	22	0.0001	0.0001	NUM
ajeer-236	250	23	353.32	353.32	NUM
ajeer-236	250	24	48.88	48.88	NUM
ajeer-236	250	25	0.0001	0.0001	NUM
ajeer-236	250	26	at	at	ADP
ajeer-236	250	27	most	most	ADJ
ajeer-236	250	28	3	3	NUM
ajeer-236	250	29	*	*	NUM
ajeer-236	250	30	0.1278	0.1278	NUM
ajeer-236	251	1	664.30	664.30	NUM
ajeer-236	251	2	111.78	111.78	NUM
ajeer-236	251	3	0.0001	0.0001	NUM
ajeer-236	251	4	327.14	327.14	NUM
ajeer-236	251	5	42.77	42.77	NUM
ajeer-236	251	6	0.0001	0.0001	NUM
ajeer-236	251	7	at	at	ADP
ajeer-236	251	8	most	most	ADJ
ajeer-236	251	9	4	4	NUM
ajeer-236	251	10	*	*	NUM
ajeer-236	251	11	0.1125	0.1125	NUM
ajeer-236	251	12	337.16	337.16	NUM
ajeer-236	251	13	83.94	83.94	NUM
ajeer-236	251	14	0	0	NUM
ajeer-236	251	15	285.54	285.54	NUM
ajeer-236	251	16	36.63	36.63	NUM
ajeer-236	251	17	0.0001	0.0001	NUM
ajeer-236	251	18	at	at	ADP
ajeer-236	251	19	most	most	ADJ
ajeer-236	251	20	5	5	NUM
ajeer-236	251	21	0.0096	0.0096	NUM
ajeer-236	251	22	51.62	51.62	NUM
ajeer-236	251	23	60.06	60.06	NUM
ajeer-236	251	24	0.2101	0.2101	NUM
ajeer-236	251	25	23.00	23.00	NUM
ajeer-236	251	26	30.44	30.44	NUM
ajeer-236	251	27	0.315	0.315	NUM
ajeer-236	251	28	5.1.3	5.1.3	NUM
ajeer-236	251	29	.	.	PUNCT
ajeer-236	252	1	granger	granger	PROPN
ajeer-236	252	2	causality	causality	PROPN
ajeer-236	252	3	test	test	NOUN
ajeer-236	252	4	as	as	SCONJ
ajeer-236	252	5	the	the	DET
ajeer-236	252	6	relationships	relationship	NOUN
ajeer-236	252	7	between	between	ADP
ajeer-236	252	8	variables	variable	NOUN
ajeer-236	252	9	are	be	AUX
ajeer-236	252	10	not	not	PART
ajeer-236	252	11	clear	clear	ADJ
ajeer-236	252	12	based	base	VERB
ajeer-236	252	13	on	on	ADP
ajeer-236	252	14	economic	economic	ADJ
ajeer-236	252	15	theories	theory	NOUN
ajeer-236	252	16	,	,	PUNCT
ajeer-236	252	17	in	in	ADP
ajeer-236	252	18	this	this	DET
ajeer-236	252	19	case	case	NOUN
ajeer-236	252	20	we	we	PRON
ajeer-236	252	21	can	can	AUX
ajeer-236	252	22	use	use	VERB
ajeer-236	252	23	the	the	DET
ajeer-236	252	24	var	var	NOUN
ajeer-236	252	25	model	model	NOUN
ajeer-236	252	26	to	to	PART
ajeer-236	252	27	examine	examine	VERB
ajeer-236	252	28	the	the	DET
ajeer-236	252	29	dynamic	dynamic	ADJ
ajeer-236	252	30	relationships	relationship	NOUN
ajeer-236	252	31	between	between	ADP
ajeer-236	252	32	variables	variable	NOUN
ajeer-236	252	33	.	.	PUNCT
ajeer-236	253	1	specifically	specifically	ADV
ajeer-236	253	2	,	,	PUNCT
ajeer-236	253	3	we	we	PRON
ajeer-236	253	4	assume	assume	VERB
ajeer-236	253	5	that	that	SCONJ
ajeer-236	253	6	the	the	DET
ajeer-236	253	7	variables	variable	NOUN
ajeer-236	253	8	are	be	AUX
ajeer-236	253	9	related	relate	VERB
ajeer-236	253	10	to	to	ADP
ajeer-236	253	11	each	each	DET
ajeer-236	253	12	other	other	ADJ
ajeer-236	253	13	and	and	CCONJ
ajeer-236	253	14	regress	regress	NOUN
ajeer-236	253	15	the	the	DET
ajeer-236	253	16	variables	variable	NOUN
ajeer-236	253	17	in	in	ADP
ajeer-236	253	18	the	the	DET
ajeer-236	253	19	current	current	ADJ
ajeer-236	253	20	period	period	NOUN
ajeer-236	253	21	with	with	ADP
ajeer-236	253	22	their	their	PRON
ajeer-236	253	23	lag	lag	NOUN
ajeer-236	253	24	periods	period	NOUN
ajeer-236	253	25	.	.	PUNCT
ajeer-236	254	1	to	to	PART
ajeer-236	254	2	investigate	investigate	VERB
ajeer-236	254	3	the	the	DET
ajeer-236	254	4	investment	investment	NOUN
ajeer-236	254	5	behavior	behavior	NOUN
ajeer-236	254	6	of	of	ADP
ajeer-236	254	7	formosa	formosa	PROPN
ajeer-236	254	8	plastics	plastic	NOUN
ajeer-236	254	9	group	group	NOUN
ajeer-236	254	10	,	,	PUNCT
ajeer-236	254	11	we	we	PRON
ajeer-236	254	12	include	include	VERB
ajeer-236	254	13	the	the	DET
ajeer-236	254	14	trading	trading	NOUN
ajeer-236	254	15	information	information	NOUN
ajeer-236	254	16	of	of	ADP
ajeer-236	254	17	nine	nine	NUM
ajeer-236	254	18	companies	company	NOUN
ajeer-236	254	19	and	and	CCONJ
ajeer-236	254	20	taiwan	taiwan	PROPN
ajeer-236	254	21	50	50	NUM
ajeer-236	254	22	etf	etf	NOUN
ajeer-236	254	23	in	in	ADP
ajeer-236	254	24	the	the	DET
ajeer-236	254	25	var	var	NOUN
ajeer-236	254	26	model	model	NOUN
ajeer-236	254	27	and	and	CCONJ
ajeer-236	254	28	conduct	conduct	VERB
ajeer-236	254	29	granger	granger	PROPN
ajeer-236	254	30	causality	causality	PROPN
ajeer-236	254	31	test	test	NOUN
ajeer-236	254	32	.	.	PUNCT
ajeer-236	255	1	the	the	DET
ajeer-236	255	2	results	result	NOUN
ajeer-236	255	3	show	show	VERB
ajeer-236	255	4	that	that	SCONJ
ajeer-236	255	5	when	when	SCONJ
ajeer-236	255	6	lagging	lag	VERB
ajeer-236	255	7	eight	eight	NUM
ajeer-236	255	8	periods	period	NOUN
ajeer-236	255	9	,	,	PUNCT
ajeer-236	255	10	formosa	formosa	NOUN
ajeer-236	255	11	advanced	advance	VERB
ajeer-236	255	12	technologies	technology	NOUN
ajeer-236	255	13	(	(	PUNCT
ajeer-236	255	14	8	8	NUM
ajeer-236	255	15	times	time	NOUN
ajeer-236	255	16	)	)	PUNCT
ajeer-236	255	17	,	,	PUNCT
ajeer-236	255	18	nan	nan	PROPN
ajeer-236	255	19	ya	ya	PROPN
ajeer-236	255	20	printed	print	VERB
ajeer-236	255	21	circuit	circuit	PROPN
ajeer-236	255	22	board	board	NOUN
ajeer-236	255	23	(	(	PUNCT
ajeer-236	255	24	5	5	NUM
ajeer-236	255	25	times	time	NOUN
ajeer-236	255	26	)	)	PUNCT
ajeer-236	255	27	and	and	CCONJ
ajeer-236	255	28	taiwan	taiwan	PROPN
ajeer-236	255	29	50	50	NUM
ajeer-236	255	30	etf	etf	NOUN
ajeer-236	255	31	(	(	PUNCT
ajeer-236	255	32	4	4	NUM
ajeer-236	255	33	times	time	NOUN
ajeer-236	255	34	)	)	PUNCT
ajeer-236	255	35	are	be	AUX
ajeer-236	255	36	the	the	DET
ajeer-236	255	37	top	top	ADJ
ajeer-236	255	38	three	three	NUM
ajeer-236	255	39	that	that	PRON
ajeer-236	255	40	have	have	VERB
ajeer-236	255	41	the	the	DET
ajeer-236	255	42	highest	high	ADJ
ajeer-236	255	43	number	number	NOUN
ajeer-236	255	44	of	of	ADP
ajeer-236	255	45	granger	granger	NOUN
ajeer-236	255	46	cause	cause	PROPN
ajeer-236	255	47	of	of	ADP
ajeer-236	255	48	other	other	ADJ
ajeer-236	255	49	companies	company	NOUN
ajeer-236	255	50	.	.	PUNCT
ajeer-236	256	1	in	in	ADP
ajeer-236	256	2	other	other	ADJ
ajeer-236	256	3	words	word	NOUN
ajeer-236	256	4	,	,	PUNCT
ajeer-236	256	5	the	the	DET
ajeer-236	256	6	investment	investment	NOUN
ajeer-236	256	7	behavior	behavior	NOUN
ajeer-236	256	8	of	of	ADP
ajeer-236	256	9	the	the	DET
ajeer-236	256	10	other	other	ADJ
ajeer-236	256	11	eight	eight	NUM
ajeer-236	256	12	companies	company	NOUN
ajeer-236	256	13	of	of	ADP
ajeer-236	256	14	the	the	DET
ajeer-236	256	15	formosa	formosa	PROPN
ajeer-236	256	16	plastics	plastic	NOUN
ajeer-236	256	17	group	group	NOUN
ajeer-236	256	18	all	all	ADV
ajeer-236	256	19	refuse	refuse	VERB
ajeer-236	256	20	to	to	PART
ajeer-236	256	21	reject	reject	VERB
ajeer-236	256	22	the	the	DET
ajeer-236	256	23	data	datum	NOUN
ajeer-236	256	24	of	of	ADP
ajeer-236	256	25	taiwan	taiwan	PROPN
ajeer-236	256	26	50	50	NUM
ajeer-236	256	27	etf	etf	NOUN
ajeer-236	256	28	and	and	CCONJ
ajeer-236	256	29	formosa	formosa	PROPN
ajeer-236	256	30	advanced	advanced	PROPN
ajeer-236	256	31	technologies	technology	NOUN
ajeer-236	256	32	.	.	PUNCT
ajeer-236	257	1	therefore	therefore	ADV
ajeer-236	257	2	,	,	PUNCT
ajeer-236	257	3	the	the	DET
ajeer-236	257	4	data	datum	NOUN
ajeer-236	257	5	of	of	ADP
ajeer-236	257	6	taiwan	taiwan	PROPN
ajeer-236	257	7	50	50	NUM
ajeer-236	257	8	etf	etf	NOUN
ajeer-236	257	9	and	and	CCONJ
ajeer-236	257	10	formosa	formosa	PROPN
ajeer-236	257	11	advanced	advanced	PROPN
ajeer-236	257	12	technologies	technology	NOUN
ajeer-236	257	13	can	can	AUX
ajeer-236	257	14	be	be	AUX
ajeer-236	257	15	treated	treat	VERB
ajeer-236	257	16	as	as	ADP
ajeer-236	257	17	endogeneous	endogeneous	ADJ
ajeer-236	257	18	variables	variable	NOUN
ajeer-236	257	19	(	(	PUNCT
ajeer-236	257	20	table	table	NOUN
ajeer-236	257	21	4	4	NUM
ajeer-236	257	22	)	)	PUNCT
ajeer-236	257	23	.	.	PUNCT
ajeer-236	258	1	the	the	DET
ajeer-236	258	2	data	datum	NOUN
ajeer-236	258	3	of	of	ADP
ajeer-236	258	4	taiwan	taiwan	PROPN
ajeer-236	258	5	50	50	NUM
ajeer-236	258	6	etf	etf	NOUN
ajeer-236	258	7	and	and	CCONJ
ajeer-236	258	8	formosa	formosa	PROPN
ajeer-236	258	9	advanced	advanced	PROPN
ajeer-236	258	10	technologies	technology	NOUN
ajeer-236	258	11	are	be	AUX
ajeer-236	258	12	the	the	DET
ajeer-236	258	13	granger	granger	PROPN
ajeer-236	258	14	cause	cause	NOUN
ajeer-236	258	15	of	of	ADP
ajeer-236	258	16	other	other	ADJ
ajeer-236	258	17	companies	company	NOUN
ajeer-236	258	18	and	and	CCONJ
ajeer-236	258	19	cause	cause	VERB
ajeer-236	258	20	herding	herd	VERB
ajeer-236	258	21	trading	trading	NOUN
ajeer-236	258	22	behavior	behavior	NOUN
ajeer-236	258	23	in	in	ADP
ajeer-236	258	24	other	other	ADJ
ajeer-236	258	25	companies	company	NOUN
ajeer-236	258	26	.	.	PUNCT
ajeer-236	259	1	table-4	table-4	X
ajeer-236	259	2	.	.	PUNCT
ajeer-236	260	1	granger	granger	PROPN
ajeer-236	260	2	causality	causality	PROPN
ajeer-236	260	3	test	test	NOUN
ajeer-236	260	4	of	of	ADP
ajeer-236	260	5	formosa	formosa	PROPN
ajeer-236	260	6	plastics	plastic	NOUN
ajeer-236	260	7	group	group	NOUN
ajeer-236	260	8	dependent	dependent	ADJ
ajeer-236	260	9	variable	variable	NOUN
ajeer-236	260	10	:	:	PUNCT
ajeer-236	260	11	d(a1301	d(a1301	NOUN
ajeer-236	260	12	)	)	PUNCT
ajeer-236	260	13	dependent	dependent	ADJ
ajeer-236	260	14	variable	variable	NOUN
ajeer-236	260	15	:	:	PUNCT
ajeer-236	260	16	a1434	a1434	NUM
ajeer-236	260	17	dependent	dependent	ADJ
ajeer-236	260	18	variable	variable	NOUN
ajeer-236	260	19	:	:	PUNCT
ajeer-236	260	20	a6505	a6505	ADJ
ajeer-236	260	21	dependent	dependent	ADJ
ajeer-236	260	22	variable	variable	NOUN
ajeer-236	260	23	:	:	PUNCT
ajeer-236	260	24	d(p50	d(p50	NOUN
ajeer-236	260	25	)	)	PUNCT
ajeer-236	260	26	excluded	exclude	VERB
ajeer-236	260	27	chi	chi	ADJ
ajeer-236	260	28	-	-	PUNCT
ajeer-236	260	29	sq	sq	ADJ
ajeer-236	260	30	prob	prob	PROPN
ajeer-236	260	31	.	.	PUNCT
ajeer-236	261	1	excluded	exclude	VERB
ajeer-236	261	2	chi	chi	ADJ
ajeer-236	261	3	-	-	PUNCT
ajeer-236	261	4	sq	sq	ADJ
ajeer-236	261	5	prob	prob	PROPN
ajeer-236	261	6	.	.	PUNCT
ajeer-236	262	1	excluded	exclude	VERB
ajeer-236	262	2	chi	chi	ADJ
ajeer-236	262	3	-	-	PUNCT
ajeer-236	262	4	sq	sq	ADJ
ajeer-236	262	5	prob	prob	PROPN
ajeer-236	262	6	.	.	PUNCT
ajeer-236	263	1	excluded	exclude	VERB
ajeer-236	263	2	chi	chi	ADJ
ajeer-236	263	3	-	-	PUNCT
ajeer-236	263	4	sq	sq	ADJ
ajeer-236	263	5	prob	prob	NOUN
ajeer-236	263	6	.	.	PUNCT
ajeer-236	264	1	a1303	a1303	NOUN
ajeer-236	264	2	19.34	19.34	NUM
ajeer-236	264	3	0.01	0.01	NUM
ajeer-236	264	4	d(a1301	d(a1301	NOUN
ajeer-236	264	5	)	)	PUNCT
ajeer-236	264	6	10.68	10.68	NUM
ajeer-236	264	7	0.22	0.22	NUM
ajeer-236	264	8	d(a1301	d(a1301	NOUN
ajeer-236	264	9	)	)	PUNCT
ajeer-236	264	10	6.79	6.79	NUM
ajeer-236	264	11	0.56	0.56	NUM
ajeer-236	264	12	d(a1301	d(a1301	NOUN
ajeer-236	264	13	)	)	PUNCT
ajeer-236	264	14	14.23	14.23	NUM
ajeer-236	264	15	0.08	0.08	NUM
ajeer-236	264	16	d(a1326	d(a1326	NOUN
ajeer-236	264	17	)	)	PUNCT
ajeer-236	264	18	26.43	26.43	NUM
ajeer-236	264	19	0.00	0.00	NUM
ajeer-236	264	20	a1303	a1303	NUM
ajeer-236	264	21	20.98	20.98	NUM
ajeer-236	264	22	0.01	0.01	NUM
ajeer-236	264	23	a1303	a1303	PROPN
ajeer-236	264	24	12.62	12.62	NUM
ajeer-236	264	25	0.13	0.13	NUM
ajeer-236	264	26	a1303	a1303	NUM
ajeer-236	264	27	11.35	11.35	NUM
ajeer-236	264	28	0.18	0.18	NUM
ajeer-236	264	29	a1434	a1434	NOUN
ajeer-236	264	30	14.14	14.14	NUM
ajeer-236	264	31	0.08	0.08	NUM
ajeer-236	264	32	d(a1326	d(a1326	NOUN
ajeer-236	264	33	)	)	PUNCT
ajeer-236	264	34	5.44	5.44	NUM
ajeer-236	264	35	0.71	0.71	NUM
ajeer-236	264	36	d(a1326	d(a1326	NOUN
ajeer-236	264	37	)	)	PUNCT
ajeer-236	264	38	8.41	8.41	NUM
ajeer-236	264	39	0.39	0.39	NUM
ajeer-236	264	40	d(a1326	d(a1326	NOUN
ajeer-236	264	41	)	)	PUNCT
ajeer-236	264	42	5.19	5.19	NUM
ajeer-236	264	43	0.74	0.74	NUM
ajeer-236	264	44	d(a2408	d(a2408	ADJ
ajeer-236	264	45	)	)	PUNCT
ajeer-236	264	46	2.65	2.65	NUM
ajeer-236	264	47	0.95	0.95	NUM
ajeer-236	264	48	d(a2408	d(a2408	NOUN
ajeer-236	264	49	)	)	PUNCT
ajeer-236	264	50	7.11	7.11	NUM
ajeer-236	264	51	0.52	0.52	NUM
ajeer-236	264	52	a1434	a1434	NUM
ajeer-236	264	53	7.93	7.93	NUM
ajeer-236	264	54	0.44	0.44	NUM
ajeer-236	264	55	a1434	a1434	NOUN
ajeer-236	264	56	16.39	16.39	NUM
ajeer-236	264	57	0.04	0.04	NUM
ajeer-236	264	58	a3532	a3532	NUM
ajeer-236	264	59	18.61	18.61	NUM
ajeer-236	264	60	0.02	0.02	NUM
ajeer-236	264	61	a3532	a3532	NUM
ajeer-236	264	62	11.01	11.01	NUM
ajeer-236	264	63	0.20	0.20	NUM
ajeer-236	264	64	d(a2408	d(a2408	NOUN
ajeer-236	264	65	)	)	PUNCT
ajeer-236	264	66	4.28	4.28	NUM
ajeer-236	264	67	0.83	0.83	NUM
ajeer-236	264	68	d(a2408	d(a2408	NOUN
ajeer-236	264	69	)	)	PUNCT
ajeer-236	264	70	1.71	1.71	NUM
ajeer-236	264	71	0.99	0.99	NUM
ajeer-236	264	72	a6505	a6505	ADP
ajeer-236	264	73	13.05	13.05	NUM
ajeer-236	264	74	0.11	0.11	NUM
ajeer-236	264	75	a6505	a6505	NOUN
ajeer-236	264	76	10.31	10.31	NUM
ajeer-236	264	77	0.24	0.24	NUM
ajeer-236	264	78	a3532	a3532	NUM
ajeer-236	264	79	9.44	9.44	NUM
ajeer-236	264	80	0.31	0.31	NUM
ajeer-236	264	81	a3532	a3532	NUM
ajeer-236	264	82	38.55	38.55	NUM
ajeer-236	264	83	0.00	0.00	NUM
ajeer-236	264	84	a8046	a8046	ADP
ajeer-236	264	85	21.89	21.89	NUM
ajeer-236	264	86	0.01	0.01	NUM
ajeer-236	264	87	a8046	a8046	ADP
ajeer-236	264	88	11.13	11.13	NUM
ajeer-236	264	89	0.19	0.19	NUM
ajeer-236	264	90	a8046	a8046	ADP
ajeer-236	264	91	5.20	5.20	NUM
ajeer-236	264	92	0.74	0.74	NUM
ajeer-236	264	93	a6505	a6505	NUM
ajeer-236	264	94	4.54	4.54	NUM
ajeer-236	264	95	0.81	0.81	NUM
ajeer-236	264	96	d(a8131	d(a8131	PROPN
ajeer-236	264	97	)	)	PUNCT
ajeer-236	264	98	20.93	20.93	NUM
ajeer-236	264	99	0.01	0.01	NUM
ajeer-236	264	100	d(a8131	d(a8131	NOUN
ajeer-236	264	101	)	)	PUNCT
ajeer-236	264	102	14.87	14.87	NUM
ajeer-236	264	103	0.06	0.06	NUM
ajeer-236	264	104	d(a8131	d(a8131	PROPN
ajeer-236	264	105	)	)	PUNCT
ajeer-236	264	106	20.16	20.16	NUM
ajeer-236	264	107	0.01	0.01	NUM
ajeer-236	264	108	a8046	a8046	ADP
ajeer-236	264	109	12.45	12.45	NUM
ajeer-236	264	110	0.13	0.13	NUM
ajeer-236	264	111	d(p50	d(p50	NOUN
ajeer-236	264	112	)	)	PUNCT
ajeer-236	264	113	14.04	14.04	NUM
ajeer-236	264	114	0.08	0.08	NUM
ajeer-236	264	115	d(p50	d(p50	NOUN
ajeer-236	264	116	)	)	PUNCT
ajeer-236	264	117	22.66	22.66	NUM
ajeer-236	264	118	0.00	0.00	NUM
ajeer-236	264	119	d(p50	d(p50	NOUN
ajeer-236	264	120	)	)	PUNCT
ajeer-236	264	121	7.79	7.79	NUM
ajeer-236	264	122	0.45	0.45	NUM
ajeer-236	264	123	d(a8131	d(a8131	NOUN
ajeer-236	264	124	)	)	PUNCT
ajeer-236	264	125	22.96	22.96	NUM
ajeer-236	264	126	0.00	0.00	NUM
ajeer-236	264	127	all	all	DET
ajeer-236	264	128	140.86	140.86	NUM
ajeer-236	264	129	0.00	0.00	NUM
ajeer-236	264	130	all	all	PRON
ajeer-236	264	131	118.33	118.33	NUM
ajeer-236	264	132	0.00	0.00	NUM
ajeer-236	264	133	all	all	DET
ajeer-236	264	134	102.73	102.73	NUM
ajeer-236	264	135	0.01	0.01	NUM
ajeer-236	264	136	all	all	PRON
ajeer-236	264	137	130.16	130.16	NUM
ajeer-236	264	138	0.00	0.00	NUM
ajeer-236	264	139	dependent	dependent	ADJ
ajeer-236	264	140	variable	variable	NOUN
ajeer-236	264	141	:	:	PUNCT
ajeer-236	264	142	a1303	a1303	NUM
ajeer-236	264	143	dependent	dependent	ADJ
ajeer-236	264	144	variable	variable	NOUN
ajeer-236	264	145	:	:	PUNCT
ajeer-236	264	146	d(a2408	d(a2408	ADJ
ajeer-236	264	147	)	)	PUNCT
ajeer-236	264	148	dependent	dependent	ADJ
ajeer-236	264	149	variable	variable	NOUN
ajeer-236	264	150	:	:	PUNCT
ajeer-236	264	151	a8046	a8046	VERB
ajeer-236	264	152	dependent	dependent	ADJ
ajeer-236	264	153	variable	variable	NOUN
ajeer-236	264	154	:	:	PUNCT
ajeer-236	264	155	d(a8131	d(a8131	PROPN
ajeer-236	264	156	)	)	PUNCT
ajeer-236	264	157	excluded	exclude	VERB
ajeer-236	264	158	chi	chi	ADJ
ajeer-236	264	159	-	-	PUNCT
ajeer-236	264	160	sq	sq	ADJ
ajeer-236	264	161	prob	prob	PROPN
ajeer-236	264	162	.	.	PUNCT
ajeer-236	265	1	excluded	exclude	VERB
ajeer-236	265	2	chi	chi	ADJ
ajeer-236	265	3	-	-	PUNCT
ajeer-236	265	4	sq	sq	ADJ
ajeer-236	265	5	prob	prob	PROPN
ajeer-236	265	6	.	.	PUNCT
ajeer-236	266	1	excluded	exclude	VERB
ajeer-236	266	2	chi	chi	ADJ
ajeer-236	266	3	-	-	PUNCT
ajeer-236	266	4	sq	sq	ADJ
ajeer-236	266	5	prob	prob	PROPN
ajeer-236	266	6	.	.	PUNCT
ajeer-236	267	1	excluded	exclude	VERB
ajeer-236	267	2	chi	chi	ADJ
ajeer-236	267	3	-	-	PUNCT
ajeer-236	267	4	sq	sq	ADJ
ajeer-236	267	5	prob	prob	PROPN
ajeer-236	267	6	.	.	PUNCT
ajeer-236	268	1	d(a1301	d(a1301	PROPN
ajeer-236	268	2	)	)	PUNCT
ajeer-236	269	1	10.49	10.49	NUM
ajeer-236	269	2	0.23	0.23	NUM
ajeer-236	269	3	d(a1301	d(a1301	NOUN
ajeer-236	269	4	)	)	PUNCT
ajeer-236	269	5	4.20	4.20	NUM
ajeer-236	269	6	0.84	0.84	NUM
ajeer-236	269	7	d(a1301	d(a1301	NOUN
ajeer-236	269	8	)	)	PUNCT
ajeer-236	269	9	17.84	17.84	NUM
ajeer-236	269	10	0.02	0.02	NUM
ajeer-236	269	11	d(a1301	d(a1301	NOUN
ajeer-236	269	12	)	)	PUNCT
ajeer-236	269	13	19.14	19.14	NUM
ajeer-236	269	14	0.01	0.01	NUM
ajeer-236	269	15	d(a1326	d(a1326	NOUN
ajeer-236	269	16	)	)	PUNCT
ajeer-236	270	1	9.95	9.95	NUM
ajeer-236	270	2	0.27	0.27	NUM
ajeer-236	270	3	a1303	a1303	NUM
ajeer-236	270	4	6.96	6.96	NUM
ajeer-236	270	5	0.54	0.54	NUM
ajeer-236	271	1	a1303	a1303	NUM
ajeer-236	271	2	12.15	12.15	NUM
ajeer-236	271	3	0.14	0.14	NUM
ajeer-236	271	4	a1303	a1303	NUM
ajeer-236	271	5	6.57	6.57	NUM
ajeer-236	271	6	0.58	0.58	NUM
ajeer-236	271	7	a1434	a1434	NOUN
ajeer-236	271	8	9.78	9.78	NUM
ajeer-236	271	9	0.28	0.28	NUM
ajeer-236	271	10	d(a1326	d(a1326	NOUN
ajeer-236	271	11	)	)	PUNCT
ajeer-236	271	12	1.36	1.36	NUM
ajeer-236	271	13	0.99	0.99	NUM
ajeer-236	271	14	d(a1326	d(a1326	NOUN
ajeer-236	271	15	)	)	PUNCT
ajeer-236	271	16	9.45	9.45	NUM
ajeer-236	271	17	0.31	0.31	NUM
ajeer-236	271	18	d(a1326	d(a1326	NOUN
ajeer-236	271	19	)	)	PUNCT
ajeer-236	271	20	5.87	5.87	NUM
ajeer-236	271	21	0.66	0.66	NUM
ajeer-236	271	22	d(a2408	d(a2408	NOUN
ajeer-236	271	23	)	)	PUNCT
ajeer-236	271	24	2.78	2.78	NUM
ajeer-236	271	25	0.95	0.95	NUM
ajeer-236	271	26	a1434	a1434	NOUN
ajeer-236	271	27	8.81	8.81	NUM
ajeer-236	271	28	0.36	0.36	NUM
ajeer-236	271	29	a1434	a1434	NOUN
ajeer-236	271	30	8.28	8.28	NUM
ajeer-236	271	31	0.41	0.41	NUM
ajeer-236	271	32	a1434	a1434	NOUN
ajeer-236	271	33	10.08	10.08	NUM
ajeer-236	271	34	0.26	0.26	NUM
ajeer-236	271	35	a3532	a3532	NUM
ajeer-236	271	36	13.20	13.20	NUM
ajeer-236	271	37	0.11	0.11	NUM
ajeer-236	271	38	a3532	a3532	NUM
ajeer-236	271	39	1.48	1.48	NUM
ajeer-236	271	40	0.99	0.99	NUM
ajeer-236	271	41	d(a2408	d(a2408	NOUN
ajeer-236	271	42	)	)	PUNCT
ajeer-236	271	43	2.44	2.44	NUM
ajeer-236	271	44	0.96	0.96	NUM
ajeer-236	271	45	d(a2408	d(a2408	NOUN
ajeer-236	271	46	)	)	PUNCT
ajeer-236	272	1	1.10	1.10	NUM
ajeer-236	272	2	1.00	1.00	NUM
ajeer-236	272	3	a6505	a6505	ADP
ajeer-236	272	4	11.30	11.30	NUM
ajeer-236	272	5	0.19	0.19	NUM
ajeer-236	272	6	a6505	a6505	ADJ
ajeer-236	272	7	1.13	1.13	NUM
ajeer-236	272	8	1.00	1.00	NUM
ajeer-236	272	9	a3532	a3532	NUM
ajeer-236	272	10	82.27	82.27	NUM
ajeer-236	272	11	0.00	0.00	NUM
ajeer-236	272	12	a3532	a3532	NUM
ajeer-236	272	13	33.59	33.59	NUM
ajeer-236	272	14	0.00	0.00	NUM
ajeer-236	272	15	a8046	a8046	ADP
ajeer-236	272	16	14.31	14.31	NUM
ajeer-236	272	17	0.07	0.07	NUM
ajeer-236	272	18	a8046	a8046	ADP
ajeer-236	272	19	7.05	7.05	NUM
ajeer-236	272	20	0.53	0.53	NUM
ajeer-236	273	1	a6505	a6505	NUM
ajeer-236	273	2	7.48	7.48	NUM
ajeer-236	273	3	0.49	0.49	NUM
ajeer-236	273	4	a6505	a6505	NUM
ajeer-236	273	5	4.31	4.31	NUM
ajeer-236	273	6	0.83	0.83	NUM
ajeer-236	273	7	d(a8131	d(a8131	NOUN
ajeer-236	273	8	)	)	PUNCT
ajeer-236	273	9	23.09	23.09	NUM
ajeer-236	273	10	0.00	0.00	NUM
ajeer-236	273	11	d(a8131	d(a8131	NOUN
ajeer-236	273	12	)	)	PUNCT
ajeer-236	273	13	4.97	4.97	NUM
ajeer-236	273	14	0.76	0.76	NUM
ajeer-236	273	15	d(a8131	d(a8131	PROPN
ajeer-236	273	16	)	)	PUNCT
ajeer-236	273	17	25.88	25.88	NUM
ajeer-236	273	18	0.00	0.00	NUM
ajeer-236	273	19	a8046	a8046	ADP
ajeer-236	273	20	19.40	19.40	NUM
ajeer-236	273	21	0.01	0.01	NUM
ajeer-236	273	22	d(p50	d(p50	NOUN
ajeer-236	273	23	)	)	PUNCT
ajeer-236	273	24	18.24	18.24	NUM
ajeer-236	273	25	0.02	0.02	NUM
ajeer-236	273	26	d(p50	d(p50	NOUN
ajeer-236	273	27	)	)	PUNCT
ajeer-236	273	28	4.03	4.03	NUM
ajeer-236	273	29	0.85	0.85	NUM
ajeer-236	273	30	d(p50	d(p50	NOUN
ajeer-236	273	31	)	)	PUNCT
ajeer-236	273	32	15.02	15.02	NUM
ajeer-236	273	33	0.06	0.06	NUM
ajeer-236	273	34	d(p50	d(p50	NOUN
ajeer-236	273	35	)	)	PUNCT
ajeer-236	273	36	21.89	21.89	NUM
ajeer-236	273	37	0.01	0.01	NUM
ajeer-236	273	38	all	all	PRON
ajeer-236	273	39	124.28	124.28	NUM
ajeer-236	273	40	0.00	0.00	NUM
ajeer-236	273	41	all	all	DET
ajeer-236	273	42	38.79	38.79	NUM
ajeer-236	273	43	1.00	1.00	NUM
ajeer-236	273	44	all	all	PRON
ajeer-236	273	45	185.72	185.72	NUM
ajeer-236	273	46	0.00	0.00	NUM
ajeer-236	273	47	all	all	DET
ajeer-236	273	48	137.11	137.11	NUM
ajeer-236	273	49	0.00	0.00	NUM
ajeer-236	273	50	dependent	dependent	ADJ
ajeer-236	273	51	variable	variable	NOUN
ajeer-236	273	52	:	:	PUNCT
ajeer-236	273	53	d(a1326	d(a1326	NOUN
ajeer-236	273	54	)	)	PUNCT
ajeer-236	273	55	dependent	dependent	ADJ
ajeer-236	273	56	variable	variable	NOUN
ajeer-236	273	57	:	:	PUNCT
ajeer-236	273	58	a3532	a3532	PROPN
ajeer-236	273	59	excluded	exclude	VERB
ajeer-236	273	60	chi	chi	ADJ
ajeer-236	273	61	-	-	PUNCT
ajeer-236	273	62	sq	sq	ADJ
ajeer-236	273	63	prob	prob	PROPN
ajeer-236	273	64	.	.	PUNCT
ajeer-236	274	1	excluded	exclude	VERB
ajeer-236	274	2	chi	chi	ADJ
ajeer-236	274	3	-	-	PUNCT
ajeer-236	274	4	sq	sq	ADJ
ajeer-236	274	5	prob	prob	PROPN
ajeer-236	274	6	.	.	PUNCT
ajeer-236	275	1	d(a1301	d(a1301	PROPN
ajeer-236	275	2	)	)	PUNCT
ajeer-236	275	3	6.67	6.67	NUM
ajeer-236	275	4	0.57	0.57	NUM
ajeer-236	275	5	d(a1301	d(a1301	NOUN
ajeer-236	275	6	)	)	PUNCT
ajeer-236	276	1	9.15	9.15	NUM
ajeer-236	276	2	0.33	0.33	NUM
ajeer-236	276	3	a1303	a1303	NUM
ajeer-236	276	4	12.98	12.98	NUM
ajeer-236	276	5	0.11	0.11	NUM
ajeer-236	276	6	a1303	a1303	PROPN
ajeer-236	276	7	11.62	11.62	NUM
ajeer-236	276	8	0.17	0.17	NUM
ajeer-236	276	9	a1434	a1434	NOUN
ajeer-236	276	10	12.34	12.34	NUM
ajeer-236	276	11	0.14	0.14	NUM
ajeer-236	276	12	d(a1326	d(a1326	NOUN
ajeer-236	276	13	)	)	PUNCT
ajeer-236	276	14	4.47	4.47	NUM
ajeer-236	276	15	0.81	0.81	NUM
ajeer-236	276	16	d(a2408	d(a2408	ADJ
ajeer-236	276	17	)	)	PUNCT
ajeer-236	276	18	7.09	7.09	NUM
ajeer-236	276	19	0.53	0.53	NUM
ajeer-236	276	20	a1434	a1434	NOUN
ajeer-236	276	21	11.87	11.87	NUM
ajeer-236	276	22	0.16	0.16	NUM
ajeer-236	276	23	a3532	a3532	PROPN
ajeer-236	276	24	9.66	9.66	NUM
ajeer-236	276	25	0.29	0.29	NUM
ajeer-236	276	26	d(a2408	d(a2408	NOUN
ajeer-236	276	27	)	)	PUNCT
ajeer-236	276	28	5.08	5.08	NUM
ajeer-236	276	29	0.75	0.75	NUM
ajeer-236	276	30	a6505	a6505	NUM
ajeer-236	276	31	16.45	16.45	NUM
ajeer-236	276	32	0.04	0.04	NUM
ajeer-236	277	1	a6505	a6505	NOUN
ajeer-236	277	2	9.96	9.96	NUM
ajeer-236	277	3	0.27	0.27	NUM
ajeer-236	277	4	a8046	a8046	ADP
ajeer-236	277	5	16.10	16.10	NUM
ajeer-236	277	6	0.04	0.04	NUM
ajeer-236	277	7	a8046	a8046	ADP
ajeer-236	277	8	54.20	54.20	NUM
ajeer-236	277	9	0.00	0.00	NUM
ajeer-236	277	10	d(a8131	d(a8131	NOUN
ajeer-236	277	11	)	)	PUNCT
ajeer-236	277	12	18.33	18.33	NUM
ajeer-236	277	13	0.02	0.02	NUM
ajeer-236	277	14	d(a8131	d(a8131	NOUN
ajeer-236	277	15	)	)	PUNCT
ajeer-236	277	16	3841.38	3841.38	NUM
ajeer-236	277	17	0.00	0.00	NUM
ajeer-236	277	18	d(p50	d(p50	NOUN
ajeer-236	277	19	)	)	PUNCT
ajeer-236	277	20	10.24	10.24	NUM
ajeer-236	277	21	0.25	0.25	NUM
ajeer-236	277	22	d(p50	d(p50	NOUN
ajeer-236	277	23	)	)	PUNCT
ajeer-236	277	24	70.84	70.84	NUM
ajeer-236	277	25	0.00	0.00	NUM
ajeer-236	277	26	all	all	DET
ajeer-236	277	27	112.94	112.94	NUM
ajeer-236	277	28	0.00	0.00	NUM
ajeer-236	277	29	all	all	PRON
ajeer-236	277	30	4186.39	4186.39	NUM
ajeer-236	277	31	0.00	0.00	NUM
ajeer-236	277	32	note	note	NOUN
ajeer-236	277	33	:	:	PUNCT
ajeer-236	277	34	prob	prob	PROPN
ajeer-236	277	35	.	.	PROPN
ajeer-236	277	36	means	mean	VERB
ajeer-236	277	37	probability	probability	NOUN
ajeer-236	277	38	.	.	PUNCT
ajeer-236	278	1	chi	chi	ADJ
ajeer-236	278	2	-	-	PUNCT
ajeer-236	278	3	sq	sq	PROPN
ajeer-236	278	4	is	be	AUX
ajeer-236	278	5	the	the	DET
ajeer-236	278	6	χ2	χ2	PROPN
ajeer-236	278	7	statistics	statistic	NOUN
ajeer-236	278	8	.	.	PUNCT
ajeer-236	279	1	sample	sample	NOUN
ajeer-236	279	2	code	code	PROPN
ajeer-236	279	3	is	be	AUX
ajeer-236	279	4	the	the	DET
ajeer-236	279	5	same	same	ADJ
ajeer-236	279	6	as	as	ADP
ajeer-236	279	7	table	table	NOUN
ajeer-236	279	8	1	1	NUM
ajeer-236	279	9	.	.	PUNCT
ajeer-236	280	1	d	d	NOUN
ajeer-236	280	2	means	mean	VERB
ajeer-236	280	3	taking	take	VERB
ajeer-236	280	4	the	the	DET
ajeer-236	280	5	first	first	ADJ
ajeer-236	280	6	difference	difference	NOUN
ajeer-236	280	7	.	.	PUNCT
ajeer-236	281	1	asian	asian	ADJ
ajeer-236	281	2	journal	journal	PROPN
ajeer-236	281	3	of	of	ADP
ajeer-236	281	4	economics	economic	NOUN
ajeer-236	281	5	and	and	CCONJ
ajeer-236	281	6	empirical	empirical	ADJ
ajeer-236	281	7	research	research	NOUN
ajeer-236	281	8	,	,	PUNCT
ajeer-236	281	9	2017	2017	NUM
ajeer-236	281	10	,	,	PUNCT
ajeer-236	281	11	4(2	4(2	NUM
ajeer-236	281	12	):	):	PUNCT
ajeer-236	281	13	106	106	NUM
ajeer-236	281	14	-	-	SYM
ajeer-236	281	15	120	120	NUM
ajeer-236	281	16	112	112	NUM
ajeer-236	281	17	5.2	5.2	NUM
ajeer-236	281	18	.	.	PUNCT
ajeer-236	282	1	granger	granger	PROPN
ajeer-236	282	2	causality	causality	PROPN
ajeer-236	282	3	test	test	NOUN
ajeer-236	282	4	of	of	ADP
ajeer-236	282	5	na	na	ADP
ajeer-236	282	6	ya	ya	PROPN
ajeer-236	282	7	plastic	plastic	NOUN
ajeer-236	282	8	,	,	PUNCT
ajeer-236	282	9	taiwan	taiwan	PROPN
ajeer-236	282	10	50	50	NUM
ajeer-236	282	11	etf	etf	NOUN
ajeer-236	282	12	and	and	CCONJ
ajeer-236	282	13	formosa	formosa	PROPN
ajeer-236	282	14	advanced	advanced	PROPN
ajeer-236	282	15	technologies	technology	NOUN
ajeer-236	282	16	5.2.1	5.2.1	NUM
ajeer-236	282	17	.	.	PUNCT
ajeer-236	282	18	lag	lag	NOUN
ajeer-236	282	19	period	period	NOUN
ajeer-236	282	20	test	test	NOUN
ajeer-236	282	21	in	in	ADP
ajeer-236	282	22	this	this	DET
ajeer-236	282	23	section	section	NOUN
ajeer-236	282	24	,	,	PUNCT
ajeer-236	282	25	we	we	PRON
ajeer-236	282	26	use	use	VERB
ajeer-236	282	27	na	na	ADP
ajeer-236	282	28	ya	ya	PROPN
ajeer-236	282	29	plastic	plastic	NOUN
ajeer-236	282	30	,	,	PUNCT
ajeer-236	282	31	taiwan	taiwan	PROPN
ajeer-236	282	32	50	50	NUM
ajeer-236	282	33	etf	etf	NOUN
ajeer-236	282	34	and	and	CCONJ
ajeer-236	282	35	formosa	formosa	PROPN
ajeer-236	282	36	advanced	advanced	PROPN
ajeer-236	282	37	technologies	technology	NOUN
ajeer-236	282	38	as	as	ADP
ajeer-236	282	39	examples	example	NOUN
ajeer-236	282	40	and	and	CCONJ
ajeer-236	282	41	carry	carry	VERB
ajeer-236	282	42	out	out	ADP
ajeer-236	282	43	the	the	DET
ajeer-236	282	44	var	var	PROPN
ajeer-236	282	45	model	model	PROPN
ajeer-236	282	46	estimation	estimation	PROPN
ajeer-236	282	47	.	.	PUNCT
ajeer-236	283	1	we	we	PRON
ajeer-236	283	2	need	need	VERB
ajeer-236	283	3	to	to	PART
ajeer-236	283	4	first	first	ADV
ajeer-236	283	5	test	test	VERB
ajeer-236	283	6	the	the	DET
ajeer-236	283	7	lagging	lagging	ADJ
ajeer-236	283	8	period	period	NOUN
ajeer-236	283	9	and	and	CCONJ
ajeer-236	283	10	the	the	DET
ajeer-236	283	11	results	result	NOUN
ajeer-236	283	12	show	show	VERB
ajeer-236	283	13	that	that	SCONJ
ajeer-236	283	14	the	the	DET
ajeer-236	283	15	aic	aic	PROPN
ajeer-236	283	16	and	and	CCONJ
ajeer-236	283	17	fpe	fpe	PROPN
ajeer-236	283	18	of	of	ADP
ajeer-236	283	19	na	na	ADP
ajeer-236	283	20	ya	ya	PROPN
ajeer-236	283	21	plastic	plastic	NOUN
ajeer-236	283	22	,	,	PUNCT
ajeer-236	283	23	taiwan	taiwan	PROPN
ajeer-236	283	24	50	50	NUM
ajeer-236	283	25	etf	etf	NOUN
ajeer-236	283	26	and	and	CCONJ
ajeer-236	283	27	formosa	formosa	PROPN
ajeer-236	283	28	advanced	advanced	PROPN
ajeer-236	283	29	technologies	technology	NOUN
ajeer-236	283	30	are	be	AUX
ajeer-236	283	31	at	at	ADP
ajeer-236	283	32	their	their	PRON
ajeer-236	283	33	minimum	minimum	NOUN
ajeer-236	283	34	when	when	SCONJ
ajeer-236	283	35	lagging	lag	VERB
ajeer-236	283	36	two	two	NUM
ajeer-236	283	37	periods	period	NOUN
ajeer-236	283	38	(	(	PUNCT
ajeer-236	283	39	table	table	NOUN
ajeer-236	283	40	5	5	NUM
ajeer-236	283	41	)	)	PUNCT
ajeer-236	283	42	.	.	PUNCT
ajeer-236	284	1	therefore	therefore	ADV
ajeer-236	284	2	,	,	PUNCT
ajeer-236	284	3	this	this	DET
ajeer-236	284	4	model	model	NOUN
ajeer-236	284	5	is	be	AUX
ajeer-236	284	6	estimated	estimate	VERB
ajeer-236	284	7	using	use	VERB
ajeer-236	284	8	a	a	DET
ajeer-236	284	9	lag	lag	ADJ
ajeer-236	284	10	period	period	NOUN
ajeer-236	284	11	of	of	ADP
ajeer-236	284	12	two	two	NUM
ajeer-236	284	13	.	.	PUNCT
ajeer-236	285	1	also	also	ADV
ajeer-236	285	2	,	,	PUNCT
ajeer-236	285	3	based	base	VERB
ajeer-236	285	4	on	on	ADP
ajeer-236	285	5	the	the	DET
ajeer-236	285	6	maximum	maximum	ADJ
ajeer-236	285	7	likelihood	likelihood	NOUN
ajeer-236	285	8	estimation	estimation	NOUN
ajeer-236	285	9	proposed	propose	VERB
ajeer-236	285	10	by	by	ADP
ajeer-236	285	11	johansen	johansen	PROPN
ajeer-236	285	12	and	and	CCONJ
ajeer-236	285	13	juselius	juselius	PROPN
ajeer-236	285	14	(	(	PUNCT
ajeer-236	285	15	1990	1990	NUM
ajeer-236	285	16	)	)	PUNCT
ajeer-236	285	17	we	we	PRON
ajeer-236	285	18	test	test	VERB
ajeer-236	285	19	the	the	DET
ajeer-236	285	20	co	co	NOUN
ajeer-236	285	21	-	-	NOUN
ajeer-236	285	22	integration	integration	NOUN
ajeer-236	285	23	relationship	relationship	NOUN
ajeer-236	285	24	between	between	ADP
ajeer-236	285	25	multi	multi	NOUN
ajeer-236	285	26	-	-	NOUN
ajeer-236	285	27	variables	variable	NOUN
ajeer-236	285	28	.	.	PUNCT
ajeer-236	286	1	the	the	DET
ajeer-236	286	2	model	model	NOUN
ajeer-236	286	3	has	have	VERB
ajeer-236	286	4	two	two	NUM
ajeer-236	286	5	co	co	ADJ
ajeer-236	286	6	-	-	ADJ
ajeer-236	286	7	integrated	integrated	ADJ
ajeer-236	286	8	equations	equation	NOUN
ajeer-236	286	9	(	(	PUNCT
ajeer-236	286	10	table	table	NOUN
ajeer-236	286	11	6	6	NUM
ajeer-236	286	12	)	)	PUNCT
ajeer-236	286	13	.	.	PUNCT
ajeer-236	287	1	table-5	table-5	PROPN
ajeer-236	287	2	.	.	PROPN
ajeer-236	287	3	lag	lag	PROPN
ajeer-236	287	4	period	period	NOUN
ajeer-236	287	5	estimation	estimation	NOUN
ajeer-236	287	6	of	of	ADP
ajeer-236	287	7	var	var	PROPN
ajeer-236	287	8	model	model	NOUN
ajeer-236	287	9	of	of	ADP
ajeer-236	287	10	na	na	ADP
ajeer-236	287	11	ya	ya	PROPN
ajeer-236	287	12	plastic	plastic	NOUN
ajeer-236	287	13	,	,	PUNCT
ajeer-236	287	14	taiwan	taiwan	PROPN
ajeer-236	287	15	50	50	NUM
ajeer-236	287	16	etf	etf	NOUN
ajeer-236	287	17	and	and	CCONJ
ajeer-236	287	18	formosa	formosa	PROPN
ajeer-236	287	19	advanced	advanced	PROPN
ajeer-236	287	20	technologies	technology	NOUN
ajeer-236	287	21	lag	lag	VERB
ajeer-236	287	22	logl	logl	NOUN
ajeer-236	287	23	lr	lr	PROPN
ajeer-236	287	24	fpe	fpe	PROPN
ajeer-236	287	25	aic	aic	PROPN
ajeer-236	287	26	sc	sc	PROPN
ajeer-236	287	27	hq	hq	NOUN
ajeer-236	287	28	0	0	NUM
ajeer-236	288	1	-13756.69	-13756.69	NOUN
ajeer-236	288	2	na	na	VERB
ajeer-236	288	3	19.81256	19.81256	NUM
ajeer-236	288	4	11.49995	11.49995	NUM
ajeer-236	288	5	11.50719	11.50719	NUM
ajeer-236	288	6	11.50258	11.50258	NUM
ajeer-236	288	7	1	1	NUM
ajeer-236	288	8	-7645.846	-7645.846	NOUN
ajeer-236	288	9	12201.25	12201.25	NUM
ajeer-236	288	10	0.120823	0.120823	NUM
ajeer-236	288	11	6.400206	6.400206	NUM
ajeer-236	288	12	6.429192	6.429192	NUM
ajeer-236	288	13	*	*	PUNCT
ajeer-236	288	14	6.410753	6.410753	NUM
ajeer-236	288	15	2	2	NUM
ajeer-236	288	16	-7622.395	-7622.395	SYM
ajeer-236	288	17	46.76492	46.76492	NUM
ajeer-236	288	18	0.119373	0.119373	NUM
ajeer-236	288	19	*	*	NOUN
ajeer-236	288	20	6.388128	6.388128	NUM
ajeer-236	288	21	*	*	PUNCT
ajeer-236	288	22	6.438854	6.438854	NUM
ajeer-236	288	23	6.406585	6.406585	NUM
ajeer-236	288	24	*	*	SYM
ajeer-236	288	25	6	6	NUM
ajeer-236	288	26	-7592.430	-7592.430	SYM
ajeer-236	288	27	18.20995	18.20995	NUM
ajeer-236	288	28	*	*	NOUN
ajeer-236	289	1	0.119977	0.119977	NUM
ajeer-236	289	2	6.393171	6.393171	NUM
ajeer-236	289	3	6.530855	6.530855	NUM
ajeer-236	289	4	6.443268	6.443268	NUM
ajeer-236	289	5	table-6	table-6	NUM
ajeer-236	289	6	.	.	PUNCT
ajeer-236	289	7	co	co	NOUN
ajeer-236	289	8	-	-	NOUN
ajeer-236	289	9	integration	integration	NOUN
ajeer-236	289	10	estimation	estimation	NOUN
ajeer-236	289	11	results	result	NOUN
ajeer-236	289	12	of	of	ADP
ajeer-236	289	13	johansen	johansen	PROPN
ajeer-236	289	14	model	model	NOUN
ajeer-236	289	15	for	for	ADP
ajeer-236	289	16	na	na	PROPN
ajeer-236	289	17	ya	ya	PROPN
ajeer-236	289	18	plastic	plastic	NOUN
ajeer-236	289	19	,	,	PUNCT
ajeer-236	289	20	taiwan	taiwan	PROPN
ajeer-236	289	21	50	50	NUM
ajeer-236	289	22	etf	etf	NOUN
ajeer-236	289	23	and	and	CCONJ
ajeer-236	289	24	formosa	formosa	PROPN
ajeer-236	289	25	advanced	advanced	PROPN
ajeer-236	289	26	technologies	technology	NOUN
ajeer-236	289	27	trace	trace	VERB
ajeer-236	289	28	max	max	PROPN
ajeer-236	289	29	-	-	PUNCT
ajeer-236	289	30	eigen	eigen	PROPN
ajeer-236	289	31	no	no	PROPN
ajeer-236	289	32	.	.	PROPN
ajeer-236	290	1	of	of	ADP
ajeer-236	290	2	ce(s	ce(s	ADV
ajeer-236	290	3	)	)	PUNCT
ajeer-236	290	4	eigenvalue	eigenvalue	NOUN
ajeer-236	290	5	statistic	statistic	ADJ
ajeer-236	290	6	critical	critical	ADJ
ajeer-236	290	7	value(0.05	value(0.05	NOUN
ajeer-236	290	8	)	)	PUNCT
ajeer-236	290	9	prob	prob	NOUN
ajeer-236	290	10	.	.	PUNCT
ajeer-236	291	1	statistic	statistic	ADJ
ajeer-236	291	2	critical	critical	ADJ
ajeer-236	291	3	value(0.05	value(0.05	NOUN
ajeer-236	291	4	)	)	PUNCT
ajeer-236	291	5	prob	prob	NOUN
ajeer-236	291	6	.	.	PUNCT
ajeer-236	292	1	none	none	NOUN
ajeer-236	292	2	*	*	PUNCT
ajeer-236	293	1	0.4051	0.4051	NUM
ajeer-236	293	2	2252.31	2252.31	NUM
ajeer-236	293	3	24.28	24.28	NUM
ajeer-236	293	4	1	1	NUM
ajeer-236	293	5	1242.90	1242.90	NUM
ajeer-236	293	6	17.80	17.80	NUM
ajeer-236	293	7	1	1	NUM
ajeer-236	293	8	at	at	ADP
ajeer-236	293	9	most	most	ADJ
ajeer-236	293	10	1	1	NUM
ajeer-236	293	11	*	*	SYM
ajeer-236	293	12	0.3440	0.3440	NUM
ajeer-236	293	13	1009.41	1009.41	NUM
ajeer-236	293	14	12.32	12.32	NUM
ajeer-236	293	15	0.0001	0.0001	NUM
ajeer-236	293	16	1008.88	1008.88	NUM
ajeer-236	293	17	11.22	11.22	NUM
ajeer-236	293	18	0.0001	0.0001	NUM
ajeer-236	293	19	at	at	ADP
ajeer-236	293	20	most	most	ADJ
ajeer-236	293	21	2	2	NUM
ajeer-236	293	22	0.0002	0.0002	NUM
ajeer-236	293	23	0.54	0.54	NUM
ajeer-236	293	24	4.13	4.13	NUM
ajeer-236	293	25	0.5261	0.5261	NUM
ajeer-236	293	26	0.54	0.54	NUM
ajeer-236	293	27	4.13	4.13	NUM
ajeer-236	293	28	0.5261	0.5261	NUM
ajeer-236	293	29	5.2.2	5.2.2	NUM
ajeer-236	293	30	.	.	PUNCT
ajeer-236	294	1	granger	granger	PROPN
ajeer-236	294	2	causality	causality	PROPN
ajeer-236	294	3	test	test	NOUN
ajeer-236	294	4	three	three	NUM
ajeer-236	294	5	variables	variable	NOUN
ajeer-236	294	6	,	,	PUNCT
ajeer-236	294	7	na	na	NOUN
ajeer-236	294	8	ya	ya	PROPN
ajeer-236	294	9	plastic	plastic	NOUN
ajeer-236	294	10	,	,	PUNCT
ajeer-236	294	11	taiwan	taiwan	PROPN
ajeer-236	294	12	50	50	NUM
ajeer-236	294	13	etf	etf	NOUN
ajeer-236	294	14	and	and	CCONJ
ajeer-236	294	15	formosa	formosa	PROPN
ajeer-236	294	16	advanced	advanced	PROPN
ajeer-236	294	17	technologies	technology	NOUN
ajeer-236	294	18	,	,	PUNCT
ajeer-236	294	19	are	be	AUX
ajeer-236	294	20	included	include	VERB
ajeer-236	294	21	in	in	ADP
ajeer-236	294	22	the	the	DET
ajeer-236	294	23	var	var	NOUN
ajeer-236	294	24	model	model	NOUN
ajeer-236	294	25	and	and	CCONJ
ajeer-236	294	26	conducted	conduct	VERB
ajeer-236	294	27	the	the	DET
ajeer-236	294	28	granger	granger	PROPN
ajeer-236	294	29	causality	causality	PROPN
ajeer-236	294	30	test	test	NOUN
ajeer-236	294	31	.	.	PUNCT
ajeer-236	295	1	results	result	NOUN
ajeer-236	295	2	show	show	VERB
ajeer-236	295	3	that	that	SCONJ
ajeer-236	295	4	when	when	SCONJ
ajeer-236	295	5	lagging	lag	VERB
ajeer-236	295	6	two	two	NUM
ajeer-236	295	7	periods	period	NOUN
ajeer-236	295	8	,	,	PUNCT
ajeer-236	295	9	apart	apart	ADV
ajeer-236	295	10	from	from	ADP
ajeer-236	295	11	taiwan	taiwan	PROPN
ajeer-236	295	12	50	50	NUM
ajeer-236	295	13	etf	etf	NOUN
ajeer-236	295	14	which	which	PRON
ajeer-236	295	15	is	be	AUX
ajeer-236	295	16	not	not	PART
ajeer-236	295	17	the	the	DET
ajeer-236	295	18	granger	granger	NOUN
ajeer-236	295	19	cause	cause	NOUN
ajeer-236	295	20	of	of	ADP
ajeer-236	295	21	na	na	ADP
ajeer-236	295	22	ya	ya	PROPN
ajeer-236	295	23	plastic	plastic	NOUN
ajeer-236	295	24	,	,	PUNCT
ajeer-236	295	25	na	na	NOUN
ajeer-236	295	26	ya	ya	PROPN
ajeer-236	295	27	plastic	plastic	NOUN
ajeer-236	295	28	,	,	PUNCT
ajeer-236	295	29	taiwan	taiwan	PROPN
ajeer-236	295	30	50	50	NUM
ajeer-236	295	31	etf	etf	NOUN
ajeer-236	295	32	and	and	CCONJ
ajeer-236	295	33	formosa	formosa	PROPN
ajeer-236	295	34	advanced	advanced	PROPN
ajeer-236	295	35	technologies	technology	NOUN
ajeer-236	295	36	are	be	AUX
ajeer-236	295	37	granger	granger	NOUN
ajeer-236	295	38	cause	cause	NOUN
ajeer-236	295	39	of	of	ADP
ajeer-236	295	40	each	each	DET
ajeer-236	295	41	other	other	ADJ
ajeer-236	295	42	and	and	CCONJ
ajeer-236	295	43	can	can	AUX
ajeer-236	295	44	be	be	AUX
ajeer-236	295	45	treated	treat	VERB
ajeer-236	295	46	as	as	ADP
ajeer-236	295	47	endogenous	endogenous	ADJ
ajeer-236	295	48	variables	variable	NOUN
ajeer-236	295	49	(	(	PUNCT
ajeer-236	295	50	table	table	NOUN
ajeer-236	295	51	7	7	NUM
ajeer-236	295	52	)	)	PUNCT
ajeer-236	295	53	.	.	PUNCT
ajeer-236	296	1	in	in	ADP
ajeer-236	296	2	other	other	ADJ
ajeer-236	296	3	words	word	NOUN
ajeer-236	296	4	,	,	PUNCT
ajeer-236	296	5	the	the	DET
ajeer-236	296	6	three	three	NUM
ajeer-236	296	7	variables	variable	NOUN
ajeer-236	296	8	refuse	refuse	VERB
ajeer-236	296	9	to	to	PART
ajeer-236	296	10	reject	reject	VERB
ajeer-236	296	11	the	the	DET
ajeer-236	296	12	data	datum	NOUN
ajeer-236	296	13	of	of	ADP
ajeer-236	296	14	each	each	DET
ajeer-236	296	15	other	other	ADJ
ajeer-236	296	16	and	and	CCONJ
ajeer-236	296	17	we	we	PRON
ajeer-236	296	18	can	can	AUX
ajeer-236	296	19	proceed	proceed	VERB
ajeer-236	296	20	with	with	ADP
ajeer-236	296	21	the	the	DET
ajeer-236	296	22	investment	investment	NOUN
ajeer-236	296	23	simulation	simulation	NOUN
ajeer-236	296	24	in	in	ADP
ajeer-236	296	25	the	the	DET
ajeer-236	296	26	next	next	ADJ
ajeer-236	296	27	stage	stage	NOUN
ajeer-236	296	28	.	.	PUNCT
ajeer-236	297	1	table-7	table-7	X
ajeer-236	297	2	.	.	PUNCT
ajeer-236	298	1	granger	granger	PROPN
ajeer-236	298	2	causality	causality	NOUN
ajeer-236	298	3	relationships	relationship	NOUN
ajeer-236	298	4	between	between	ADP
ajeer-236	298	5	na	na	ADP
ajeer-236	298	6	ya	ya	PROPN
ajeer-236	298	7	plastic	plastic	NOUN
ajeer-236	298	8	,	,	PUNCT
ajeer-236	298	9	taiwan	taiwan	PROPN
ajeer-236	298	10	50	50	NUM
ajeer-236	298	11	etf	etf	NOUN
ajeer-236	298	12	and	and	CCONJ
ajeer-236	298	13	formosa	formosa	PROPN
ajeer-236	298	14	advanced	advanced	PROPN
ajeer-236	298	15	technologies	technology	NOUN
ajeer-236	298	16	a1303	a1303	PROPN
ajeer-236	298	17	p50	p50	NOUN
ajeer-236	298	18	a8131	a8131	NOUN
ajeer-236	298	19	a1303	a1303	PROPN
ajeer-236	298	20	2.1692	2.1692	NUM
ajeer-236	298	21	(	(	PUNCT
ajeer-236	298	22	0.338	0.338	NUM
ajeer-236	298	23	)	)	PUNCT
ajeer-236	298	24	8.8867	8.8867	NUM
ajeer-236	298	25	(	(	PUNCT
ajeer-236	298	26	0.0118	0.0118	NUM
ajeer-236	298	27	)	)	PUNCT
ajeer-236	298	28	p50	p50	NOUN
ajeer-236	298	29	11.6966	11.6966	NUM
ajeer-236	298	30	(	(	PUNCT
ajeer-236	298	31	0.0029	0.0029	NUM
ajeer-236	298	32	)	)	PUNCT
ajeer-236	298	33	13.1406	13.1406	NUM
ajeer-236	298	34	(	(	PUNCT
ajeer-236	298	35	0.0014	0.0014	NUM
ajeer-236	298	36	)	)	PUNCT
ajeer-236	298	37	a8131	a8131	VERB
ajeer-236	298	38	4.4544	4.4544	NUM
ajeer-236	298	39	(	(	PUNCT
ajeer-236	298	40	0.0178	0.0178	NUM
ajeer-236	298	41	)	)	PUNCT
ajeer-236	298	42	26.7587	26.7587	NUM
ajeer-236	298	43	(	(	PUNCT
ajeer-236	298	44	0.0000	0.0000	NUM
ajeer-236	298	45	)	)	PUNCT
ajeer-236	298	46	note	note	NOUN
ajeer-236	298	47	:	:	PUNCT
ajeer-236	298	48	sample	sample	NOUN
ajeer-236	298	49	codes	code	NOUN
ajeer-236	298	50	are	be	AUX
ajeer-236	298	51	the	the	DET
ajeer-236	298	52	same	same	ADJ
ajeer-236	298	53	as	as	SCONJ
ajeer-236	298	54	provided	provide	VERB
ajeer-236	298	55	in	in	ADP
ajeer-236	298	56	table	table	NOUN
ajeer-236	298	57	1	1	NUM
ajeer-236	298	58	.	.	X
ajeer-236	298	59	5.3	5.3	NUM
ajeer-236	298	60	.	.	PUNCT
ajeer-236	299	1	estimation	estimation	NOUN
ajeer-236	299	2	of	of	ADP
ajeer-236	299	3	egarch	egarch	PROPN
ajeer-236	299	4	model	model	PROPN
ajeer-236	299	5	’s	’s	PART
ajeer-236	299	6	coefficient	coefficient	NOUN
ajeer-236	299	7	and	and	CCONJ
ajeer-236	299	8	news	news	NOUN
ajeer-236	299	9	impact	impact	NOUN
ajeer-236	299	10	response	response	NOUN
ajeer-236	299	11	5.3.1	5.3.1	NUM
ajeer-236	299	12	.	.	PUNCT
ajeer-236	299	13	estimation	estimation	NOUN
ajeer-236	299	14	results	result	NOUN
ajeer-236	299	15	of	of	ADP
ajeer-236	299	16	egarch	egarch	NOUN
ajeer-236	299	17	model	model	NOUN
ajeer-236	299	18	(	(	PUNCT
ajeer-236	299	19	excluding	exclude	VERB
ajeer-236	299	20	formosa	formosa	NOUN
ajeer-236	299	21	advanced	advance	VERB
ajeer-236	299	22	technologies	technology	NOUN
ajeer-236	299	23	)	)	PUNCT
ajeer-236	299	24	the	the	DET
ajeer-236	299	25	values	value	NOUN
ajeer-236	299	26	of	of	ADP
ajeer-236	299	27			NOUN
ajeer-236	299	28	(	(	PUNCT
ajeer-236	299	29	0.0679	0.0679	NUM
ajeer-236	299	30	)	)	PUNCT
ajeer-236	299	31	,	,	PUNCT
ajeer-236	299	32			PROPN
ajeer-236	299	33	(	(	PUNCT
ajeer-236	299	34	0.9941	0.9941	NUM
ajeer-236	299	35	)	)	PUNCT
ajeer-236	299	36	,	,	PUNCT
ajeer-236	299	37			NUM
ajeer-236	299	38	(	(	PUNCT
ajeer-236	299	39	0.0452	0.0452	NUM
ajeer-236	299	40	)	)	PUNCT
ajeer-236	299	41	of	of	ADP
ajeer-236	299	42	the	the	DET
ajeer-236	299	43	model	model	NOUN
ajeer-236	299	44	(	(	PUNCT
ajeer-236	299	45	excluding	exclude	VERB
ajeer-236	299	46	formosa	formosa	NOUN
ajeer-236	299	47	advanced	advance	VERB
ajeer-236	299	48	technologies	technology	NOUN
ajeer-236	299	49	)	)	PUNCT
ajeer-236	299	50	are	be	AUX
ajeer-236	299	51	all	all	ADV
ajeer-236	299	52	significant	significant	ADJ
ajeer-236	299	53	at	at	ADP
ajeer-236	299	54	the	the	DET
ajeer-236	299	55	1	1	NUM
ajeer-236	299	56	%	%	NOUN
ajeer-236	299	57	level	level	NOUN
ajeer-236	299	58	and	and	CCONJ
ajeer-236	299	59	are	be	AUX
ajeer-236	299	60	all	all	ADV
ajeer-236	299	61	positive	positive	ADJ
ajeer-236	299	62	.	.	PUNCT
ajeer-236	300	1	this	this	PRON
ajeer-236	300	2	suggests	suggest	VERB
ajeer-236	300	3	the	the	DET
ajeer-236	300	4	existence	existence	NOUN
ajeer-236	300	5	of	of	ADP
ajeer-236	300	6	asymmetric	asymmetric	ADJ
ajeer-236	300	7	volatility	volatility	NOUN
ajeer-236	300	8	.	.	PUNCT
ajeer-236	301	1	the	the	DET
ajeer-236	301	2	volatility	volatility	NOUN
ajeer-236	301	3	caused	cause	VERB
ajeer-236	301	4	by	by	ADP
ajeer-236	301	5	good	good	ADJ
ajeer-236	301	6	news	news	PROPN
ajeer-236	301	7	(	(	PUNCT
ajeer-236	301	8	0.1131	0.1131	NUM
ajeer-236	301	9	)	)	PUNCT
ajeer-236	301	10	is	be	AUX
ajeer-236	301	11	greater	great	ADJ
ajeer-236	301	12	than	than	ADP
ajeer-236	301	13	the	the	DET
ajeer-236	301	14	impact	impact	NOUN
ajeer-236	301	15	of	of	ADP
ajeer-236	301	16	bad	bad	ADJ
ajeer-236	301	17	news	news	NOUN
ajeer-236	301	18	on	on	ADP
ajeer-236	301	19	the	the	DET
ajeer-236	301	20	logarithm	logarithm	NOUN
ajeer-236	301	21	of	of	ADP
ajeer-236	301	22	conditional	conditional	ADJ
ajeer-236	301	23	variance	variance	NOUN
ajeer-236	301	24	(	(	PUNCT
ajeer-236	301	25	0.022	0.022	NUM
ajeer-236	301	26	times	time	NOUN
ajeer-236	301	27	)	)	PUNCT
ajeer-236	301	28	(	(	PUNCT
ajeer-236	301	29	table	table	NOUN
ajeer-236	301	30	8)	8)	NUM
ajeer-236	301	31	.	.	PUNCT
ajeer-236	302	1	table-8	table-8	NOUN
ajeer-236	302	2	.	.	PUNCT
ajeer-236	303	1	estimation	estimation	NOUN
ajeer-236	303	2	results	result	NOUN
ajeer-236	303	3	of	of	ADP
ajeer-236	303	4	egarch	egarch	NOUN
ajeer-236	303	5	model	model	NOUN
ajeer-236	303	6	(	(	PUNCT
ajeer-236	303	7	excluding	exclude	VERB
ajeer-236	303	8	formosa	formosa	NOUN
ajeer-236	303	9	advanced	advance	VERB
ajeer-236	303	10	technologies	technology	NOUN
ajeer-236	303	11	)	)	PUNCT
ajeer-236	303	12	variable	variable	ADJ
ajeer-236	303	13	coefficient	coefficient	NOUN
ajeer-236	303	14	std	std	NOUN
ajeer-236	303	15	.	.	PUNCT
ajeer-236	303	16	error	error	NOUN
ajeer-236	303	17	z	z	NOUN
ajeer-236	303	18	-	-	PUNCT
ajeer-236	303	19	statistic	statistic	ADJ
ajeer-236	303	20	prob	prob	NOUN
ajeer-236	303	21	.	.	PUNCT
ajeer-236	304	1	a1303	a1303	NOUN
ajeer-236	304	2	0.000142	0.000142	NUM
ajeer-236	304	3	0.001566	0.001566	NUM
ajeer-236	304	4	0.090982	0.090982	NUM
ajeer-236	304	5	0.9275	0.9275	NUM
ajeer-236	304	6	d(a1326	d(a1326	NOUN
ajeer-236	304	7	)	)	PUNCT
ajeer-236	304	8	0.503892	0.503892	NUM
ajeer-236	304	9	0.010579	0.010579	NUM
ajeer-236	304	10	47.63353	47.63353	NUM
ajeer-236	304	11	0	0	NUM
ajeer-236	305	1	a1434	a1434	PROPN
ajeer-236	305	2	-0.00074	-0.00074	NOUN
ajeer-236	306	1	0.003351	0.003351	NUM
ajeer-236	306	2	-0.2206	-0.2206	NOUN
ajeer-236	306	3	0.8254	0.8254	NUM
ajeer-236	306	4	d(a2408	d(a2408	ADV
ajeer-236	306	5	)	)	PUNCT
ajeer-236	306	6	-0.01361	-0.01361	VERB
ajeer-236	306	7	0.014484	0.014484	NUM
ajeer-236	306	8	-0.93948	-0.93948	NOUN
ajeer-236	306	9	0.3475	0.3475	NUM
ajeer-236	306	10	a3532	a3532	PROPN
ajeer-236	306	11	-0.00103	-0.00103	NOUN
ajeer-236	306	12	0.000507	0.000507	NUM
ajeer-236	306	13	-2.03818	-2.03818	NOUN
ajeer-236	306	14	0.0415	0.0415	NUM
ajeer-236	306	15	a6505	a6505	ADJ
ajeer-236	306	16	0.00073	0.00073	NUM
ajeer-236	307	1	0.000785	0.000785	NUM
ajeer-236	307	2	0.929408	0.929408	NUM
ajeer-236	307	3	0.3527	0.3527	NUM
ajeer-236	307	4	a8046	a8046	VERB
ajeer-236	307	5	0.000188	0.000188	NUM
ajeer-236	307	6	0.000287	0.000287	NUM
ajeer-236	307	7	0.655265	0.655265	NUM
ajeer-236	307	8	0.5123	0.5123	NUM
ajeer-236	307	9	d(p50	d(p50	NOUN
ajeer-236	307	10	)	)	PUNCT
ajeer-236	307	11	0.47616	0.47616	NUM
ajeer-236	307	12	0.023113	0.023113	NUM
ajeer-236	307	13	20.60105	20.60105	NUM
ajeer-236	307	14	0	0	NUM
ajeer-236	307	15	variance	variance	NOUN
ajeer-236	307	16	equation	equation	NOUN
ajeer-236	307	17	c(9	c(9	PROPN
ajeer-236	307	18	)	)	PUNCT
ajeer-236	307	19	-0.05348	-0.05348	NOUN
ajeer-236	307	20	0.006881	0.006881	NUM
ajeer-236	307	21	-7.77239	-7.77239	NOUN
ajeer-236	307	22	0	0	NUM
ajeer-236	307	23	c(10	c(10	NUM
ajeer-236	307	24	)	)	PUNCT
ajeer-236	307	25	0.067979	0.067979	NUM
ajeer-236	307	26	0.008613	0.008613	NUM
ajeer-236	307	27	7.892741	7.892741	NUM
ajeer-236	307	28	0	0	NUM
ajeer-236	307	29	c(11	c(11	NOUN
ajeer-236	307	30	)	)	PUNCT
ajeer-236	307	31	0.045297	0.045297	NUM
ajeer-236	307	32	0.0076	0.0076	NUM
ajeer-236	307	33	5.959912	5.959912	NUM
ajeer-236	307	34	0	0	PUNCT
ajeer-236	307	35	c(12	c(12	NOUN
ajeer-236	307	36	)	)	PUNCT
ajeer-236	307	37	0.994168	0.994168	NUM
ajeer-236	307	38	0.001492	0.001492	NUM
ajeer-236	307	39	666.2372	666.2372	NUM
ajeer-236	307	40	0	0	NUM
ajeer-236	307	41	r	r	NOUN
ajeer-236	307	42	-	-	PUNCT
ajeer-236	307	43	squared	square	VERB
ajeer-236	307	44	0.526442	0.526442	NUM
ajeer-236	307	45	akaike	akaike	ADJ
ajeer-236	307	46	info	info	NOUN
ajeer-236	307	47	criterion	criterion	NOUN
ajeer-236	307	48	2.325313	2.325313	NUM
ajeer-236	307	49	log	log	NOUN
ajeer-236	307	50	likelihood	likelihood	NOUN
ajeer-236	307	51	-2770.24	-2770.24	PROPN
ajeer-236	307	52	schwarz	schwarz	NOUN
ajeer-236	307	53	criterion	criterion	NOUN
ajeer-236	307	54	2.354299	2.354299	NUM
ajeer-236	307	55	then	then	ADV
ajeer-236	307	56	,	,	PUNCT
ajeer-236	307	57	this	this	DET
ajeer-236	307	58	study	study	NOUN
ajeer-236	307	59	draws	draw	VERB
ajeer-236	307	60	the	the	DET
ajeer-236	307	61	news	news	NOUN
ajeer-236	307	62	impact	impact	NOUN
ajeer-236	307	63	curve	curve	NOUN
ajeer-236	307	64	based	base	VERB
ajeer-236	307	65	on	on	ADP
ajeer-236	307	66	the	the	DET
ajeer-236	307	67	egarch	egarch	NOUN
ajeer-236	307	68	model	model	NOUN
ajeer-236	307	69	(	(	PUNCT
ajeer-236	307	70	excluding	exclude	VERB
ajeer-236	307	71	formosa	formosa	NOUN
ajeer-236	307	72	advanced	advance	VERB
ajeer-236	307	73	technologies	technology	NOUN
ajeer-236	307	74	)	)	PUNCT
ajeer-236	307	75	(	(	PUNCT
ajeer-236	307	76	figure	figure	NOUN
ajeer-236	307	77	1	1	NUM
ajeer-236	307	78	)	)	PUNCT
ajeer-236	307	79	.	.	PUNCT
ajeer-236	308	1	in	in	ADP
ajeer-236	308	2	order	order	NOUN
ajeer-236	308	3	to	to	PART
ajeer-236	308	4	see	see	VERB
ajeer-236	308	5	the	the	DET
ajeer-236	308	6	difference	difference	NOUN
ajeer-236	308	7	between	between	ADP
ajeer-236	308	8	figure	figure	NOUN
ajeer-236	308	9	1	1	NUM
ajeer-236	308	10	and	and	CCONJ
ajeer-236	308	11	figure	figure	VERB
ajeer-236	308	12	2	2	NUM
ajeer-236	308	13	more	more	ADV
ajeer-236	308	14	easily	easily	ADV
ajeer-236	308	15	,	,	PUNCT
ajeer-236	308	16	the	the	DET
ajeer-236	308	17	figure	figure	NOUN
ajeer-236	308	18	includes	include	VERB
ajeer-236	308	19	kernel	kernel	NOUN
ajeer-236	308	20	density	density	NOUN
ajeer-236	308	21	at	at	ADP
ajeer-236	308	22	the	the	DET
ajeer-236	308	23	frame	frame	NOUN
ajeer-236	308	24	of	of	ADP
ajeer-236	308	25	the	the	DET
ajeer-236	308	26	figures	figure	NOUN
ajeer-236	308	27	.	.	PUNCT
ajeer-236	309	1	the	the	DET
ajeer-236	309	2	kernel	kernel	PROPN
ajeer-236	309	3	density	density	NOUN
ajeer-236	309	4	is	be	AUX
ajeer-236	309	5	a	a	DET
ajeer-236	309	6	non	non	ADJ
ajeer-236	309	7	-	-	ADJ
ajeer-236	309	8	parametric	parametric	ADJ
ajeer-236	309	9	way	way	NOUN
ajeer-236	309	10	to	to	PART
ajeer-236	309	11	estimate	estimate	VERB
ajeer-236	309	12	the	the	DET
ajeer-236	309	13	asian	asian	ADJ
ajeer-236	309	14	journal	journal	NOUN
ajeer-236	309	15	of	of	ADP
ajeer-236	309	16	economics	economic	NOUN
ajeer-236	309	17	and	and	CCONJ
ajeer-236	309	18	empirical	empirical	ADJ
ajeer-236	309	19	research	research	NOUN
ajeer-236	309	20	,	,	PUNCT
ajeer-236	309	21	2017	2017	NUM
ajeer-236	309	22	,	,	PUNCT
ajeer-236	309	23	4(2	4(2	NUM
ajeer-236	309	24	):	):	PUNCT
ajeer-236	309	25	106	106	NUM
ajeer-236	309	26	-	-	SYM
ajeer-236	309	27	120	120	NUM
ajeer-236	309	28	113	113	NUM
ajeer-236	309	29	probability	probability	NOUN
ajeer-236	309	30	density	density	NOUN
ajeer-236	309	31	function	function	NOUN
ajeer-236	309	32	of	of	ADP
ajeer-236	309	33	a	a	DET
ajeer-236	309	34	random	random	ADJ
ajeer-236	309	35	variable	variable	NOUN
ajeer-236	309	36	and	and	CCONJ
ajeer-236	309	37	can	can	AUX
ajeer-236	309	38	be	be	AUX
ajeer-236	309	39	presented	present	VERB
ajeer-236	309	40	by	by	ADP
ajeer-236	309	41	a	a	DET
ajeer-236	309	42	non	non	ADJ
ajeer-236	309	43	-	-	ADJ
ajeer-236	309	44	continuous	continuous	ADJ
ajeer-236	309	45	bar	bar	NOUN
ajeer-236	309	46	graph	graph	NOUN
ajeer-236	309	47	.	.	PUNCT
ajeer-236	310	1	the	the	DET
ajeer-236	310	2	kernel	kernel	PROPN
ajeer-236	310	3	density	density	PROPN
ajeer-236	310	4	of	of	ADP
ajeer-236	310	5	series	series	NOUN
ajeer-236	310	6	x	x	PROPN
ajeer-236	310	7	at	at	ADP
ajeer-236	310	8	point	point	NOUN
ajeer-236	310	9	x	x	PUNCT
ajeer-236	310	10	can	can	AUX
ajeer-236	310	11	be	be	AUX
ajeer-236	310	12	estimated	estimate	VERB
ajeer-236	310	13	by	by	ADP
ajeer-236	310	14	:	:	PUNCT
ajeer-236	310	15	)	)	PUNCT
ajeer-236	310	16	(	(	PUNCT
ajeer-236	310	17	1	1	X
ajeer-236	310	18	)	)	PUNCT
ajeer-236	310	19	(	(	PUNCT
ajeer-236	310	20	1	1	NUM
ajeer-236	310	21			X
ajeer-236	310	22			VERB
ajeer-236	310	23			PROPN
ajeer-236	310	24			NOUN
ajeer-236	311	1	n	n	INTJ
ajeer-236	311	2	i	i	PRON
ajeer-236	312	1	i	i	PRON
ajeer-236	312	2	h	h	VERB
ajeer-236	313	1	xx	xx	NUM
ajeer-236	314	1	k	k	PROPN
ajeer-236	314	2	nh	nh	PROPN
ajeer-236	314	3	xf	xf	PROPN
ajeer-236	314	4	…	…	PROPN
ajeer-236	314	5	…	…	PUNCT
ajeer-236	314	6	…	…	PUNCT
ajeer-236	314	7	…	…	PUNCT
ajeer-236	314	8	……	……	NOUN
ajeer-236	314	9	……	……	NOUN
ajeer-236	314	10	……	……	NOUN
ajeer-236	314	11	……	……	NOUN
ajeer-236	314	12	(	(	PUNCT
ajeer-236	314	13	8)	8)	NUM
ajeer-236	314	14	where	where	SCONJ
ajeer-236	314	15	n	n	PRON
ajeer-236	314	16	is	be	AUX
ajeer-236	314	17	the	the	DET
ajeer-236	314	18	sample	sample	NOUN
ajeer-236	314	19	size	size	NOUN
ajeer-236	314	20	,	,	PUNCT
ajeer-236	314	21	h	h	NOUN
ajeer-236	314	22	is	be	AUX
ajeer-236	314	23	the	the	DET
ajeer-236	314	24	width	width	NOUN
ajeer-236	314	25	based	base	VERB
ajeer-236	314	26	on	on	ADP
ajeer-236	314	27	silverman	silverman	NOUN
ajeer-236	314	28	(	(	PUNCT
ajeer-236	314	29	1986	1986	NUM
ajeer-236	314	30	)	)	PUNCT
ajeer-236	314	31	and	and	CCONJ
ajeer-236	314	32	k	k	PROPN
ajeer-236	314	33	is	be	AUX
ajeer-236	314	34	the	the	DET
ajeer-236	314	35	kernel	kernel	PROPN
ajeer-236	314	36	function	function	NOUN
ajeer-236	314	37	.	.	PUNCT
ajeer-236	315	1	the	the	DET
ajeer-236	315	2	epanechnikov	epanechnikov	NOUN
ajeer-236	315	3	density	density	NOUN
ajeer-236	315	4	form	form	NOUN
ajeer-236	315	5	is	be	AUX
ajeer-236	315	6	given	give	VERB
ajeer-236	315	7	by	by	ADP
ajeer-236	315	8	:	:	PUNCT
ajeer-236	315	9	)	)	PUNCT
ajeer-236	315	10	1()1	1()1	NUM
ajeer-236	315	11	(	(	PUNCT
ajeer-236	315	12	4	4	NUM
ajeer-236	315	13	3	3	NUM
ajeer-236	315	14	2	2	NUM
ajeer-236	315	15			NOUN
ajeer-236	315	16			PROPN
ajeer-236	315	17	i	i	PRON
ajeer-236	315	18	where	where	SCONJ
ajeer-236	315	19	i	i	PRON
ajeer-236	315	20	is	be	AUX
ajeer-236	315	21	the	the	DET
ajeer-236	315	22	index	index	NOUN
ajeer-236	315	23	function	function	NOUN
ajeer-236	315	24	;	;	PUNCT
ajeer-236	315	25	when	when	SCONJ
ajeer-236	315	26	1	1	NUM
ajeer-236	315	27	,	,	PUNCT
ajeer-236	315	28	1	1	NUM
ajeer-236	315	29	is	be	AUX
ajeer-236	315	30	chosen	choose	VERB
ajeer-236	315	31	,	,	PUNCT
ajeer-236	315	32	or	or	CCONJ
ajeer-236	315	33	otherwise	otherwise	ADV
ajeer-236	315	34	0	0	NUM
ajeer-236	315	35	.	.	PUNCT
ajeer-236	316	1	figure	figure	NOUN
ajeer-236	316	2	1	1	NUM
ajeer-236	316	3	shows	show	VERB
ajeer-236	316	4	that	that	SCONJ
ajeer-236	316	5	when	when	SCONJ
ajeer-236	316	6	the	the	DET
ajeer-236	316	7	news	news	NOUN
ajeer-236	316	8	impact	impact	NOUN
ajeer-236	316	9	is	be	AUX
ajeer-236	316	10	less	less	ADJ
ajeer-236	316	11	than	than	ADP
ajeer-236	316	12	0	0	NUM
ajeer-236	316	13	(	(	PUNCT
ajeer-236	316	14	i.e.	i.e.	X
ajeer-236	316	15	,	,	PUNCT
ajeer-236	316	16	when	when	SCONJ
ajeer-236	316	17	encountering	encounter	VERB
ajeer-236	316	18	negative	negative	ADJ
ajeer-236	316	19	news	news	NOUN
ajeer-236	316	20	)	)	PUNCT
ajeer-236	316	21	,	,	PUNCT
ajeer-236	316	22	the	the	DET
ajeer-236	316	23	curve	curve	NOUN
ajeer-236	316	24	is	be	AUX
ajeer-236	316	25	flatter	flatter	ADJ
ajeer-236	316	26	.	.	PUNCT
ajeer-236	317	1	in	in	ADP
ajeer-236	317	2	contrast	contrast	NOUN
ajeer-236	317	3	,	,	PUNCT
ajeer-236	317	4	the	the	DET
ajeer-236	317	5	news	news	NOUN
ajeer-236	317	6	impact	impact	NOUN
ajeer-236	317	7	curve	curve	NOUN
ajeer-236	317	8	is	be	AUX
ajeer-236	317	9	steeper	steep	ADJ
ajeer-236	317	10	when	when	SCONJ
ajeer-236	317	11	having	have	VERB
ajeer-236	317	12	positive	positive	ADJ
ajeer-236	317	13	news	news	NOUN
ajeer-236	317	14	.	.	PUNCT
ajeer-236	318	1	this	this	PRON
ajeer-236	318	2	is	be	AUX
ajeer-236	318	3	likely	likely	ADJ
ajeer-236	318	4	due	due	ADP
ajeer-236	318	5	to	to	ADP
ajeer-236	318	6	the	the	DET
ajeer-236	318	7	integration	integration	NOUN
ajeer-236	318	8	strategy	strategy	NOUN
ajeer-236	318	9	and	and	CCONJ
ajeer-236	318	10	company	company	NOUN
ajeer-236	318	11	policy	policy	NOUN
ajeer-236	318	12	within	within	ADP
ajeer-236	318	13	the	the	DET
ajeer-236	318	14	formosa	formosa	PROPN
ajeer-236	318	15	plastics	plastic	NOUN
ajeer-236	318	16	group	group	NOUN
ajeer-236	318	17	,	,	PUNCT
ajeer-236	318	18	which	which	PRON
ajeer-236	318	19	strengthen	strengthen	VERB
ajeer-236	318	20	the	the	DET
ajeer-236	318	21	function	function	NOUN
ajeer-236	318	22	of	of	ADP
ajeer-236	318	23	the	the	DET
ajeer-236	318	24	business	business	NOUN
ajeer-236	318	25	group‟s	group‟s	NOUN
ajeer-236	318	26	headquarter.8	headquarter.8	ADV
ajeer-236	318	27	therefore	therefore	ADV
ajeer-236	318	28	,	,	PUNCT
ajeer-236	318	29	the	the	DET
ajeer-236	318	30	effect	effect	NOUN
ajeer-236	318	31	of	of	ADP
ajeer-236	318	32	negative	negative	ADJ
ajeer-236	318	33	news	news	NOUN
ajeer-236	318	34	on	on	ADP
ajeer-236	318	35	stock	stock	NOUN
ajeer-236	318	36	prices	price	NOUN
ajeer-236	318	37	is	be	AUX
ajeer-236	318	38	weakened	weaken	VERB
ajeer-236	318	39	.	.	PUNCT
ajeer-236	319	1	figure-1	figure-1	NOUN
ajeer-236	319	2	.	.	PUNCT
ajeer-236	319	3	news	news	NOUN
ajeer-236	319	4	impact	impact	NOUN
ajeer-236	319	5	curve	curve	NOUN
ajeer-236	319	6	of	of	ADP
ajeer-236	319	7	formosa	formosa	PROPN
ajeer-236	319	8	plastics	plastic	NOUN
ajeer-236	319	9	group	group	NOUN
ajeer-236	319	10	(	(	PUNCT
ajeer-236	319	11	excluding	exclude	VERB
ajeer-236	319	12	formosa	formosa	NOUN
ajeer-236	319	13	advanced	advance	VERB
ajeer-236	319	14	technologies	technology	NOUN
ajeer-236	319	15	)	)	PUNCT
ajeer-236	319	16	5.3.2	5.3.2	NUM
ajeer-236	319	17	.	.	PUNCT
ajeer-236	320	1	estimation	estimation	NOUN
ajeer-236	320	2	results	result	NOUN
ajeer-236	320	3	of	of	ADP
ajeer-236	320	4	egarch	egarch	NOUN
ajeer-236	320	5	model	model	NOUN
ajeer-236	320	6	(	(	PUNCT
ajeer-236	320	7	including	include	VERB
ajeer-236	320	8	formosa	formosa	PROPN
ajeer-236	320	9	advanced	advance	VERB
ajeer-236	320	10	technologies	technology	NOUN
ajeer-236	320	11	)	)	PUNCT
ajeer-236	320	12	the	the	DET
ajeer-236	320	13	coefficients	coefficient	NOUN
ajeer-236	320	14	of	of	ADP
ajeer-236	320	15	this	this	DET
ajeer-236	320	16	model	model	NOUN
ajeer-236	320	17	(	(	PUNCT
ajeer-236	320	18	including	include	VERB
ajeer-236	320	19	formosa	formosa	PROPN
ajeer-236	320	20	advanced	advance	VERB
ajeer-236	320	21	technologies	technology	NOUN
ajeer-236	320	22	)	)	PUNCT
ajeer-236	320	23	are	be	AUX
ajeer-236	320	24	all	all	ADV
ajeer-236	320	25	significant	significant	ADJ
ajeer-236	320	26	at	at	ADP
ajeer-236	320	27	the	the	DET
ajeer-236	320	28	1	1	NUM
ajeer-236	320	29	%	%	NOUN
ajeer-236	320	30	level	level	NOUN
ajeer-236	320	31	without	without	ADP
ajeer-236	320	32	adding	add	VERB
ajeer-236	320	33	any	any	DET
ajeer-236	320	34	restrictions	restriction	NOUN
ajeer-236	320	35	.	.	PUNCT
ajeer-236	321	1	the	the	DET
ajeer-236	321	2	values	value	NOUN
ajeer-236	321	3	of	of	ADP
ajeer-236	321	4	α	α	PROPN
ajeer-236	321	5	(	(	PUNCT
ajeer-236	321	6	0.0661	0.0661	NUM
ajeer-236	321	7	)	)	PUNCT
ajeer-236	321	8	,	,	PUNCT
ajeer-236	321	9	β	β	X
ajeer-236	321	10	(	(	PUNCT
ajeer-236	321	11	0.9943	0.9943	NUM
ajeer-236	321	12	)	)	PUNCT
ajeer-236	321	13	and	and	CCONJ
ajeer-236	321	14	γ	γ	PROPN
ajeer-236	321	15	(	(	PUNCT
ajeer-236	321	16	0.0460	0.0460	NUM
ajeer-236	321	17	)	)	PUNCT
ajeer-236	321	18	are	be	AUX
ajeer-236	321	19	all	all	ADV
ajeer-236	321	20	positive	positive	ADJ
ajeer-236	321	21	.	.	PUNCT
ajeer-236	322	1	the	the	DET
ajeer-236	322	2	value	value	NOUN
ajeer-236	322	3	of	of	ADP
ajeer-236	322	4	α	α	PROPN
ajeer-236	322	5	+	+	X
ajeer-236	322	6	γ	γ	PROPN
ajeer-236	322	7	is	be	AUX
ajeer-236	322	8	proportional	proportional	ADJ
ajeer-236	322	9	to	to	ADP
ajeer-236	322	10	its	its	PRON
ajeer-236	322	11	sensitivity	sensitivity	NOUN
ajeer-236	322	12	.	.	PUNCT
ajeer-236	323	1	when	when	SCONJ
ajeer-236	323	2	having	have	VERB
ajeer-236	323	3	good	good	ADJ
ajeer-236	323	4	news	news	NOUN
ajeer-236	323	5	,	,	PUNCT
ajeer-236	323	6	the	the	DET
ajeer-236	323	7	impact	impact	NOUN
ajeer-236	323	8	on	on	ADP
ajeer-236	323	9	the	the	DET
ajeer-236	323	10	logarithm	logarithm	NOUN
ajeer-236	323	11	of	of	ADP
ajeer-236	323	12	conditional	conditional	ADJ
ajeer-236	323	13	variance	variance	NOUN
ajeer-236	323	14	can	can	AUX
ajeer-236	323	15	be	be	AUX
ajeer-236	323	16	presented	present	VERB
ajeer-236	323	17	as	as	ADP
ajeer-236	323	18	:	:	PUNCT
ajeer-236	323	19	0.0661	0.0661	NUM
ajeer-236	323	20	+	+	NUM
ajeer-236	323	21	0.0460	0.0460	NUM
ajeer-236	323	22	=	=	SYM
ajeer-236	323	23	0.1121	0.1121	NUM
ajeer-236	323	24	times	time	NOUN
ajeer-236	323	25	;	;	PUNCT
ajeer-236	323	26	when	when	SCONJ
ajeer-236	323	27	having	have	VERB
ajeer-236	323	28	bad	bad	ADJ
ajeer-236	323	29	news	news	NOUN
ajeer-236	323	30	,	,	PUNCT
ajeer-236	323	31	the	the	DET
ajeer-236	323	32	impact	impact	NOUN
ajeer-236	323	33	on	on	ADP
ajeer-236	323	34	the	the	DET
ajeer-236	323	35	logarithm	logarithm	NOUN
ajeer-236	323	36	of	of	ADP
ajeer-236	323	37	conditional	conditional	ADJ
ajeer-236	323	38	variance	variance	NOUN
ajeer-236	323	39	can	can	AUX
ajeer-236	323	40	be	be	AUX
ajeer-236	323	41	presented	present	VERB
ajeer-236	323	42	as	as	ADP
ajeer-236	323	43	:	:	PUNCT
ajeer-236	323	44	0.0661	0.0661	NUM
ajeer-236	323	45	+	+	CCONJ
ajeer-236	323	46	0.0460*(-1	0.0460*(-1	NUM
ajeer-236	323	47	)	)	PUNCT
ajeer-236	323	48	=	=	PUNCT
ajeer-236	324	1	0.0201	0.0201	NUM
ajeer-236	324	2	times	time	NOUN
ajeer-236	324	3	.	.	PUNCT
ajeer-236	325	1	this	this	PRON
ajeer-236	325	2	suggests	suggest	VERB
ajeer-236	325	3	that	that	SCONJ
ajeer-236	325	4	investors	investor	NOUN
ajeer-236	325	5	do	do	AUX
ajeer-236	325	6	not	not	PART
ajeer-236	325	7	have	have	VERB
ajeer-236	325	8	greater	great	ADJ
ajeer-236	325	9	psychological	psychological	ADJ
ajeer-236	325	10	reactions	reaction	NOUN
ajeer-236	325	11	to	to	ADP
ajeer-236	325	12	bad	bad	ADJ
ajeer-236	325	13	news	news	NOUN
ajeer-236	325	14	(	(	PUNCT
ajeer-236	325	15	table	table	NOUN
ajeer-236	325	16	9	9	NUM
ajeer-236	325	17	)	)	PUNCT
ajeer-236	325	18	.	.	PUNCT
ajeer-236	326	1	table-9	table-9	NOUN
ajeer-236	326	2	.	.	PUNCT
ajeer-236	327	1	estimation	estimation	NOUN
ajeer-236	327	2	results	result	NOUN
ajeer-236	327	3	of	of	ADP
ajeer-236	327	4	egarch	egarch	NOUN
ajeer-236	327	5	model	model	NOUN
ajeer-236	327	6	(	(	PUNCT
ajeer-236	327	7	including	include	VERB
ajeer-236	327	8	formosa	formosa	PROPN
ajeer-236	327	9	advanced	advance	VERB
ajeer-236	327	10	technologies	technology	NOUN
ajeer-236	327	11	)	)	PUNCT
ajeer-236	327	12	variable	variable	ADJ
ajeer-236	327	13	coefficient	coefficient	NOUN
ajeer-236	327	14	std	std	NOUN
ajeer-236	327	15	.	.	PUNCT
ajeer-236	327	16	error	error	NOUN
ajeer-236	327	17	z	z	NOUN
ajeer-236	327	18	-	-	PUNCT
ajeer-236	327	19	statistic	statistic	ADJ
ajeer-236	327	20	prob	prob	NOUN
ajeer-236	327	21	.	.	PUNCT
ajeer-236	328	1	a1303	a1303	NOUN
ajeer-236	328	2	4.47e-05	4.47e-05	NUM
ajeer-236	329	1	0.001562	0.001562	NUM
ajeer-236	329	2	0.028636	0.028636	NUM
ajeer-236	329	3	0.9772	0.9772	NUM
ajeer-236	329	4	d(a1326	d(a1326	NOUN
ajeer-236	329	5	)	)	PUNCT
ajeer-236	329	6	0.504051	0.504051	NUM
ajeer-236	330	1	0.010627	0.010627	NUM
ajeer-236	330	2	47.42908	47.42908	NUM
ajeer-236	330	3	0	0	NUM
ajeer-236	331	1	a1434	a1434	NOUN
ajeer-236	331	2	-0.00063	-0.00063	ADJ
ajeer-236	332	1	0.0033	0.0033	NUM
ajeer-236	332	2	-0.18953	-0.18953	NOUN
ajeer-236	332	3	0.8497	0.8497	NUM
ajeer-236	332	4	d(a2408	d(a2408	ADV
ajeer-236	332	5	)	)	PUNCT
ajeer-236	332	6	-0.01376	-0.01376	NOUN
ajeer-236	333	1	0.014311	0.014311	NUM
ajeer-236	333	2	-0.96156	-0.96156	NOUN
ajeer-236	333	3	0.3363	0.3363	NUM
ajeer-236	334	1	a3532	a3532	PROPN
ajeer-236	334	2	-0.00104	-0.00104	NOUN
ajeer-236	334	3	0.000495	0.000495	NUM
ajeer-236	334	4	-2.09259	-2.09259	NOUN
ajeer-236	334	5	0.0364	0.0364	NUM
ajeer-236	335	1	a6505	a6505	ADV
ajeer-236	335	2	0.000754	0.000754	NUM
ajeer-236	335	3	0.000763	0.000763	NUM
ajeer-236	335	4	0.987339	0.987339	NUM
ajeer-236	335	5	0.3235	0.3235	NUM
ajeer-236	335	6	a8046	a8046	ADP
ajeer-236	335	7	0.000203	0.000203	NUM
ajeer-236	335	8	0.00028	0.00028	NUM
ajeer-236	335	9	0.723959	0.723959	NUM
ajeer-236	335	10	0.4691	0.4691	NUM
ajeer-236	335	11	d(a8131	d(a8131	NOUN
ajeer-236	335	12	)	)	PUNCT
ajeer-236	335	13	0.018598	0.018598	NUM
ajeer-236	335	14	0.022756	0.022756	NUM
ajeer-236	335	15	0.817257	0.817257	NUM
ajeer-236	335	16	0.4138	0.4138	NUM
ajeer-236	335	17	d(p50	d(p50	NOUN
ajeer-236	335	18	)	)	PUNCT
ajeer-236	336	1	0.465813	0.465813	NUM
ajeer-236	336	2	0.025222	0.025222	NUM
ajeer-236	336	3	18.46823	18.46823	NUM
ajeer-236	336	4	0	0	NUM
ajeer-236	336	5	variance	variance	NOUN
ajeer-236	336	6	equation	equation	NOUN
ajeer-236	336	7	c(10	c(10	NOUN
ajeer-236	336	8	)	)	PUNCT
ajeer-236	337	1	-0.05208	-0.05208	VERB
ajeer-236	338	1	0.00679	0.00679	NUM
ajeer-236	338	2	-7.67018	-7.67018	NOUN
ajeer-236	338	3	0	0	PUNCT
ajeer-236	338	4	c(11	c(11	NOUN
ajeer-236	338	5	)	)	PUNCT
ajeer-236	338	6	0.066172	0.066172	NUM
ajeer-236	338	7	0.008509	0.008509	NUM
ajeer-236	338	8	7.7765	7.7765	NUM
ajeer-236	338	9	0	0	NUM
ajeer-236	338	10	c(12	c(12	NOUN
ajeer-236	338	11	)	)	PUNCT
ajeer-236	338	12	0.046068	0.046068	NUM
ajeer-236	339	1	0.007513	0.007513	NUM
ajeer-236	339	2	6.131406	6.131406	NUM
ajeer-236	339	3	0	0	NUM
ajeer-236	339	4	c(13	c(13	ADJ
ajeer-236	339	5	)	)	PUNCT
ajeer-236	339	6	0.994309	0.994309	NUM
ajeer-236	339	7	0.00147	0.00147	NUM
ajeer-236	340	1	676.2493	676.2493	NUM
ajeer-236	340	2	0	0	NUM
ajeer-236	340	3	r	r	NOUN
ajeer-236	340	4	-	-	PUNCT
ajeer-236	340	5	squared	square	VERB
ajeer-236	340	6	0.526034	0.526034	NUM
ajeer-236	340	7	akaike	akaike	ADJ
ajeer-236	340	8	info	info	NOUN
ajeer-236	340	9	criterion	criterion	NOUN
ajeer-236	340	10	2.325885	2.325885	NUM
ajeer-236	340	11	log	log	NOUN
ajeer-236	340	12	likelihood	likelihood	NOUN
ajeer-236	340	13	-2769.92	-2769.92	PROPN
ajeer-236	340	14	schwarz	schwarz	NOUN
ajeer-236	340	15	criterion	criterion	NOUN
ajeer-236	340	16	2.357287	2.357287	NUM
ajeer-236	340	17	based	base	VERB
ajeer-236	340	18	on	on	ADP
ajeer-236	340	19	the	the	DET
ajeer-236	340	20	egarch	egarch	NOUN
ajeer-236	340	21	model	model	NOUN
ajeer-236	340	22	results	result	NOUN
ajeer-236	340	23	,	,	PUNCT
ajeer-236	340	24	including	include	VERB
ajeer-236	340	25	formosa	formosa	PROPN
ajeer-236	340	26	advanced	advanced	PROPN
ajeer-236	340	27	technologies	technology	NOUN
ajeer-236	341	1	,	,	PUNCT
ajeer-236	341	2	the	the	DET
ajeer-236	341	3	news	news	NOUN
ajeer-236	341	4	impact	impact	NOUN
ajeer-236	341	5	curve	curve	NOUN
ajeer-236	341	6	is	be	AUX
ajeer-236	341	7	drawn	draw	VERB
ajeer-236	341	8	and	and	CCONJ
ajeer-236	341	9	shown	show	VERB
ajeer-236	341	10	in	in	ADP
ajeer-236	341	11	figure	figure	NOUN
ajeer-236	341	12	2	2	NUM
ajeer-236	341	13	.	.	PUNCT
ajeer-236	342	1	the	the	DET
ajeer-236	342	2	figure	figure	NOUN
ajeer-236	342	3	also	also	ADV
ajeer-236	342	4	shows	show	VERB
ajeer-236	342	5	that	that	SCONJ
ajeer-236	342	6	when	when	SCONJ
ajeer-236	342	7	the	the	DET
ajeer-236	342	8	news	news	NOUN
ajeer-236	342	9	impact	impact	NOUN
ajeer-236	342	10	is	be	AUX
ajeer-236	342	11	less	less	ADJ
ajeer-236	342	12	than	than	ADP
ajeer-236	342	13	0	0	NUM
ajeer-236	342	14	(	(	PUNCT
ajeer-236	342	15	i.e.	i.e.	X
ajeer-236	342	16	,	,	PUNCT
ajeer-236	342	17	when	when	SCONJ
ajeer-236	342	18	encountering	encounter	VERB
ajeer-236	342	19	negative	negative	ADJ
ajeer-236	342	20	news	news	NOUN
ajeer-236	342	21	)	)	PUNCT
ajeer-236	342	22	,	,	PUNCT
ajeer-236	342	23	the	the	DET
ajeer-236	342	24	curve	curve	NOUN
ajeer-236	342	25	is	be	AUX
ajeer-236	342	26	flatter	flatter	ADJ
ajeer-236	342	27	.	.	PUNCT
ajeer-236	343	1	in	in	ADP
ajeer-236	343	2	contrast	contrast	NOUN
ajeer-236	343	3	,	,	PUNCT
ajeer-236	343	4	the	the	DET
ajeer-236	343	5	news	news	NOUN
ajeer-236	343	6	impact	impact	NOUN
ajeer-236	343	7	curve	curve	NOUN
ajeer-236	343	8	is	be	AUX
ajeer-236	343	9	steeper	steep	ADJ
ajeer-236	343	10	when	when	SCONJ
ajeer-236	343	11	having	have	VERB
ajeer-236	343	12	positive	positive	ADJ
ajeer-236	343	13	news	news	NOUN
ajeer-236	343	14	.	.	PUNCT
ajeer-236	344	1	however	however	ADV
ajeer-236	344	2	,	,	PUNCT
ajeer-236	344	3	compared	compare	VERB
ajeer-236	344	4	with	with	ADP
ajeer-236	344	5	figure	figure	NOUN
ajeer-236	344	6	1	1	NUM
ajeer-236	344	7	(	(	PUNCT
ajeer-236	344	8	which	which	PRON
ajeer-236	344	9	excludes	exclude	VERB
ajeer-236	344	10	formosa	formosa	PROPN
ajeer-236	344	11	advanced	advance	VERB
ajeer-236	344	12	technologies	technology	NOUN
ajeer-236	344	13	)	)	PUNCT
ajeer-236	344	14	,	,	PUNCT
ajeer-236	344	15	the	the	DET
ajeer-236	344	16	curve	curve	NOUN
ajeer-236	344	17	is	be	AUX
ajeer-236	344	18	even	even	ADV
ajeer-236	344	19	flatter	flat	ADJ
ajeer-236	344	20	when	when	SCONJ
ajeer-236	344	21	formosa	formosa	PROPN
ajeer-236	344	22	advanced	advanced	PROPN
ajeer-236	344	23	technologies	technology	NOUN
ajeer-236	344	24	is	be	AUX
ajeer-236	344	25	included	include	VERB
ajeer-236	344	26	.	.	PUNCT
ajeer-236	345	1	this	this	PRON
ajeer-236	345	2	suggests	suggest	VERB
ajeer-236	345	3	that	that	SCONJ
ajeer-236	345	4	including	include	VERB
ajeer-236	345	5	formosa	formosa	PROPN
ajeer-236	345	6	advanced	advanced	PROPN
ajeer-236	345	7	technologies	technology	NOUN
ajeer-236	345	8	can	can	AUX
ajeer-236	345	9	lower	lower	VERB
ajeer-236	345	10	the	the	DET
ajeer-236	345	11	risks	risk	NOUN
ajeer-236	345	12	and	and	CCONJ
ajeer-236	345	13	the	the	DET
ajeer-236	345	14	β	β	NOUN
ajeer-236	345	15	of	of	ADP
ajeer-236	345	16	the	the	DET
ajeer-236	345	17	model	model	NOUN
ajeer-236	345	18	(	(	PUNCT
ajeer-236	345	19	0.99	0.99	NUM
ajeer-236	345	20	)	)	PUNCT
ajeer-236	345	21	is	be	AUX
ajeer-236	345	22	close	close	ADJ
ajeer-236	345	23	to	to	ADP
ajeer-236	345	24	1	1	NUM
ajeer-236	345	25	;	;	PUNCT
ajeer-236	345	26	that	that	PRON
ajeer-236	345	27	is	is	ADV
ajeer-236	345	28	,	,	PUNCT
ajeer-236	345	29	it	it	PRON
ajeer-236	345	30	is	be	AUX
ajeer-236	345	31	slowly	slowly	ADV
ajeer-236	345	32	stabilize	stabilize	ADJ
ajeer-236	345	33	.	.	PUNCT
ajeer-236	346	1	therefore	therefore	ADV
ajeer-236	346	2	,	,	PUNCT
ajeer-236	346	3	the	the	DET
ajeer-236	346	4	effect	effect	NOUN
ajeer-236	346	5	of	of	ADP
ajeer-236	346	6	negative	negative	ADJ
ajeer-236	346	7	news	news	NOUN
ajeer-236	346	8	on	on	ADP
ajeer-236	346	9	stock	stock	NOUN
ajeer-236	346	10	prices	price	NOUN
ajeer-236	346	11	is	be	AUX
ajeer-236	346	12	weakened	weaken	VERB
ajeer-236	346	13	.	.	PUNCT
ajeer-236	347	1	8refer	8refer	NUM
ajeer-236	347	2	to	to	ADP
ajeer-236	347	3	wealth	wealth	NOUN
ajeer-236	347	4	magazine	magazine	NOUN
ajeer-236	347	5	(	(	PUNCT
ajeer-236	347	6	issue	issue	NOUN
ajeer-236	347	7	531	531	NUM
ajeer-236	347	8	,	,	PUNCT
ajeer-236	347	9	2017.06.15	2017.06.15	NUM
ajeer-236	347	10	)	)	PUNCT
ajeer-236	347	11	,	,	PUNCT
ajeer-236	347	12	“	"	PUNCT
ajeer-236	347	13	things	thing	NOUN
ajeer-236	347	14	that	that	PRON
ajeer-236	347	15	the	the	DET
ajeer-236	347	16	headquarter	headquarter	NOUN
ajeer-236	347	17	of	of	ADP
ajeer-236	347	18	the	the	DET
ajeer-236	347	19	business	business	NOUN
ajeer-236	347	20	groups	group	NOUN
ajeer-236	347	21	do	do	VERB
ajeer-236	347	22	.	.	PUNCT
ajeer-236	347	23	”	"	PUNCT
ajeer-236	348	1	https://www.wealth.com.tw	https://www.wealth.com.tw	PROPN
ajeer-236	348	2	https://www.wealth.com.tw/	https://www.wealth.com.tw/	PROPN
ajeer-236	348	3	asian	asian	ADJ
ajeer-236	348	4	journal	journal	NOUN
ajeer-236	348	5	of	of	ADP
ajeer-236	348	6	economics	economic	NOUN
ajeer-236	348	7	and	and	CCONJ
ajeer-236	348	8	empirical	empirical	ADJ
ajeer-236	348	9	research	research	NOUN
ajeer-236	348	10	,	,	PUNCT
ajeer-236	348	11	2017	2017	NUM
ajeer-236	348	12	,	,	PUNCT
ajeer-236	348	13	4(2	4(2	NUM
ajeer-236	348	14	):	):	PUNCT
ajeer-236	348	15	106	106	NUM
ajeer-236	348	16	-	-	SYM
ajeer-236	348	17	120	120	NUM
ajeer-236	348	18	114	114	NUM
ajeer-236	348	19	figure-2	figure-2	PROPN
ajeer-236	348	20	.	.	PUNCT
ajeer-236	349	1	news	news	NOUN
ajeer-236	349	2	impact	impact	NOUN
ajeer-236	349	3	curve	curve	NOUN
ajeer-236	349	4	of	of	ADP
ajeer-236	349	5	formosa	formosa	PROPN
ajeer-236	349	6	plastics	plastic	NOUN
ajeer-236	349	7	group	group	NOUN
ajeer-236	349	8	(	(	PUNCT
ajeer-236	349	9	including	include	VERB
ajeer-236	349	10	formosa	formosa	PROPN
ajeer-236	349	11	advanced	advance	VERB
ajeer-236	349	12	technologies	technology	NOUN
ajeer-236	349	13	)	)	PUNCT
ajeer-236	349	14	as	as	SCONJ
ajeer-236	349	15	the	the	DET
ajeer-236	349	16	γ	γ	PROPN
ajeer-236	349	17	coefficients	coefficient	NOUN
ajeer-236	349	18	are	be	AUX
ajeer-236	349	19	positive	positive	ADJ
ajeer-236	349	20	no	no	ADV
ajeer-236	349	21	matter	matter	ADV
ajeer-236	349	22	the	the	DET
ajeer-236	349	23	leading	lead	VERB
ajeer-236	349	24	company‟s	company‟s	NOUN
ajeer-236	349	25	stock	stock	NOUN
ajeer-236	349	26	prices	price	NOUN
ajeer-236	349	27	are	be	AUX
ajeer-236	349	28	included	include	VERB
ajeer-236	349	29	or	or	CCONJ
ajeer-236	349	30	not	not	PART
ajeer-236	349	31	,	,	PUNCT
ajeer-236	349	32	very	very	ADV
ajeer-236	349	33	little	little	ADJ
ajeer-236	349	34	difference	difference	NOUN
ajeer-236	349	35	in	in	ADP
ajeer-236	349	36	figures	figure	NOUN
ajeer-236	349	37	can	can	AUX
ajeer-236	349	38	be	be	AUX
ajeer-236	349	39	observed	observe	VERB
ajeer-236	349	40	in	in	ADP
ajeer-236	349	41	figures	figure	NOUN
ajeer-236	349	42	.	.	PUNCT
ajeer-236	350	1	therefore	therefore	ADV
ajeer-236	350	2	,	,	PUNCT
ajeer-236	350	3	this	this	DET
ajeer-236	350	4	study	study	NOUN
ajeer-236	350	5	further	further	ADJ
ajeer-236	350	6	test	test	NOUN
ajeer-236	350	7	for	for	ADP
ajeer-236	350	8	the	the	DET
ajeer-236	350	9	difference	difference	NOUN
ajeer-236	350	10	in	in	ADP
ajeer-236	350	11	γ	γ	NOUN
ajeer-236	350	12	coefficients	coefficient	NOUN
ajeer-236	350	13	.	.	PUNCT
ajeer-236	351	1	the	the	DET
ajeer-236	351	2	t	t	PROPN
ajeer-236	351	3	statistic	statistic	NOUN
ajeer-236	351	4	is	be	AUX
ajeer-236	351	5	3.52	3.52	NUM
ajeer-236	351	6	(	(	PUNCT
ajeer-236	351	7	appendix	appendix	NOUN
ajeer-236	351	8	2	2	NUM
ajeer-236	351	9	)	)	PUNCT
ajeer-236	351	10	,	,	PUNCT
ajeer-236	351	11	suggesting	suggest	VERB
ajeer-236	351	12	a	a	DET
ajeer-236	351	13	significant	significant	ADJ
ajeer-236	351	14	difference	difference	NOUN
ajeer-236	351	15	in	in	ADP
ajeer-236	351	16	γ	γ	PROPN
ajeer-236	351	17	coefficients	coefficient	NOUN
ajeer-236	351	18	of	of	ADP
ajeer-236	351	19	formosa	formosa	PROPN
ajeer-236	351	20	advanced	advanced	PROPN
ajeer-236	351	21	technologies	technology	NOUN
ajeer-236	351	22	.	.	PUNCT
ajeer-236	352	1	investor	investor	NOUN
ajeer-236	352	2	sentiment	sentiment	NOUN
ajeer-236	352	3	is	be	AUX
ajeer-236	352	4	calmer	calm	ADJ
ajeer-236	352	5	when	when	SCONJ
ajeer-236	352	6	formosa	formosa	PROPN
ajeer-236	352	7	advanced	advanced	PROPN
ajeer-236	352	8	technologies	technology	NOUN
ajeer-236	352	9	is	be	AUX
ajeer-236	352	10	included	include	VERB
ajeer-236	352	11	.	.	PUNCT
ajeer-236	353	1	5.4	5.4	NUM
ajeer-236	353	2	.	.	PUNCT
ajeer-236	353	3	comparison	comparison	NOUN
ajeer-236	353	4	of	of	ADP
ajeer-236	353	5	formosa	formosa	PROPN
ajeer-236	353	6	plastics	plastic	NOUN
ajeer-236	353	7	group	group	NOUN
ajeer-236	353	8	’s	’s	PART
ajeer-236	353	9	investment	investment	NOUN
ajeer-236	353	10	performance	performance	NOUN
ajeer-236	353	11	the	the	DET
ajeer-236	353	12	model	model	NOUN
ajeer-236	353	13	adopts	adopt	VERB
ajeer-236	353	14	the	the	DET
ajeer-236	353	15	stock	stock	NOUN
ajeer-236	353	16	prices	price	NOUN
ajeer-236	353	17	of	of	ADP
ajeer-236	353	18	leading	lead	VERB
ajeer-236	353	19	company	company	NOUN
ajeer-236	353	20	,	,	PUNCT
ajeer-236	353	21	taiwan	taiwan	PROPN
ajeer-236	353	22	50	50	NUM
ajeer-236	353	23	etf	etf	NOUN
ajeer-236	353	24	and	and	CCONJ
ajeer-236	353	25	other	other	ADJ
ajeer-236	353	26	stocks	stock	NOUN
ajeer-236	353	27	.	.	PUNCT
ajeer-236	354	1	that	that	PRON
ajeer-236	354	2	is	is	ADV
ajeer-236	354	3	,	,	PUNCT
ajeer-236	354	4	data1	data1	PROPN
ajeer-236	354	5	is	be	AUX
ajeer-236	354	6	the	the	DET
ajeer-236	354	7	price	price	NOUN
ajeer-236	354	8	of	of	ADP
ajeer-236	354	9	individual	individual	ADJ
ajeer-236	354	10	stocks	stock	NOUN
ajeer-236	354	11	;	;	PUNCT
ajeer-236	354	12	data2	data2	PROPN
ajeer-236	354	13	is	be	AUX
ajeer-236	354	14	the	the	DET
ajeer-236	354	15	price	price	NOUN
ajeer-236	354	16	of	of	ADP
ajeer-236	354	17	0050	0050	NUM
ajeer-236	354	18	etf	etf	NOUN
ajeer-236	354	19	;	;	PUNCT
ajeer-236	354	20	data3	data3	NOUN
ajeer-236	354	21	is	be	AUX
ajeer-236	354	22	the	the	DET
ajeer-236	354	23	price	price	NOUN
ajeer-236	354	24	of	of	ADP
ajeer-236	354	25	leading	lead	VERB
ajeer-236	354	26	company	company	NOUN
ajeer-236	354	27	,	,	PUNCT
ajeer-236	354	28	where	where	SCONJ
ajeer-236	354	29	formosa	formosa	PROPN
ajeer-236	354	30	advanced	advanced	ADJ
ajeer-236	354	31	technologies	technology	NOUN
ajeer-236	354	32	is	be	AUX
ajeer-236	354	33	used	use	VERB
ajeer-236	354	34	in	in	ADP
ajeer-236	354	35	model	model	NOUN
ajeer-236	354	36	1	1	NUM
ajeer-236	354	37	and	and	CCONJ
ajeer-236	354	38	nan	nan	PROPN
ajeer-236	354	39	ya	ya	PROPN
ajeer-236	354	40	printed	printed	PROPN
ajeer-236	354	41	circuit	circuit	PROPN
ajeer-236	354	42	board	board	NOUN
ajeer-236	354	43	is	be	AUX
ajeer-236	354	44	used	use	VERB
ajeer-236	354	45	in	in	ADP
ajeer-236	354	46	model	model	NOUN
ajeer-236	354	47	2	2	NUM
ajeer-236	354	48	.	.	PUNCT
ajeer-236	355	1	the	the	DET
ajeer-236	355	2	results	result	NOUN
ajeer-236	355	3	show	show	VERB
ajeer-236	355	4	that	that	SCONJ
ajeer-236	355	5	in	in	ADP
ajeer-236	355	6	model	model	NOUN
ajeer-236	355	7	1	1	NUM
ajeer-236	355	8	,	,	PUNCT
ajeer-236	355	9	the	the	DET
ajeer-236	355	10	returns	return	NOUN
ajeer-236	355	11	increase	increase	VERB
ajeer-236	355	12	in	in	ADP
ajeer-236	355	13	the	the	DET
ajeer-236	355	14	second	second	ADJ
ajeer-236	355	15	stage	stage	NOUN
ajeer-236	355	16	for	for	ADP
ajeer-236	355	17	six	six	NUM
ajeer-236	355	18	companies	company	NOUN
ajeer-236	355	19	(	(	PUNCT
ajeer-236	355	20	table	table	NOUN
ajeer-236	355	21	10	10	NUM
ajeer-236	355	22	-	-	SYM
ajeer-236	355	23	1	1	NUM
ajeer-236	355	24	)	)	PUNCT
ajeer-236	355	25	.	.	PUNCT
ajeer-236	356	1	if	if	SCONJ
ajeer-236	356	2	the	the	DET
ajeer-236	356	3	investment	investment	NOUN
ajeer-236	356	4	portfolio	portfolio	NOUN
ajeer-236	356	5	includes	include	VERB
ajeer-236	356	6	the	the	DET
ajeer-236	356	7	eight	eight	NUM
ajeer-236	356	8	companies	company	NOUN
ajeer-236	356	9	in	in	ADP
ajeer-236	356	10	the	the	DET
ajeer-236	356	11	formosa	formosa	PROPN
ajeer-236	356	12	plastics	plastic	NOUN
ajeer-236	356	13	group	group	NOUN
ajeer-236	356	14	,	,	PUNCT
ajeer-236	356	15	the	the	DET
ajeer-236	356	16	investment	investment	NOUN
ajeer-236	356	17	is	be	AUX
ajeer-236	356	18	profitable	profitable	ADJ
ajeer-236	356	19	.	.	PUNCT
ajeer-236	357	1	the	the	DET
ajeer-236	357	2	profits	profit	NOUN
ajeer-236	357	3	increase	increase	VERB
ajeer-236	357	4	from	from	ADP
ajeer-236	357	5	$	$	SYM
ajeer-236	357	6	353.66	353.66	NUM
ajeer-236	357	7	in	in	ADP
ajeer-236	357	8	the	the	DET
ajeer-236	357	9	first	first	ADJ
ajeer-236	357	10	stage	stage	NOUN
ajeer-236	357	11	to	to	ADP
ajeer-236	357	12	$	$	SYM
ajeer-236	357	13	357.86	357.86	NUM
ajeer-236	357	14	in	in	ADP
ajeer-236	357	15	the	the	DET
ajeer-236	357	16	second	second	ADJ
ajeer-236	357	17	stage	stage	NOUN
ajeer-236	357	18	,	,	PUNCT
ajeer-236	357	19	showing	show	VERB
ajeer-236	357	20	an	an	DET
ajeer-236	357	21	increase	increase	NOUN
ajeer-236	357	22	of	of	ADP
ajeer-236	357	23	12.49	12.49	NUM
ajeer-236	357	24	%	%	NOUN
ajeer-236	357	25	.	.	PUNCT
ajeer-236	358	1	the	the	DET
ajeer-236	358	2	results	result	NOUN
ajeer-236	358	3	show	show	VERB
ajeer-236	358	4	that	that	SCONJ
ajeer-236	358	5	this	this	DET
ajeer-236	358	6	program	program	NOUN
ajeer-236	358	7	trading	trading	NOUN
ajeer-236	358	8	is	be	AUX
ajeer-236	358	9	profitable	profitable	ADJ
ajeer-236	358	10	.	.	PUNCT
ajeer-236	359	1	however	however	ADV
ajeer-236	359	2	,	,	PUNCT
ajeer-236	359	3	the	the	DET
ajeer-236	359	4	performance	performance	NOUN
ajeer-236	359	5	of	of	ADP
ajeer-236	359	6	formosa	formosa	PROPN
ajeer-236	359	7	plastics	plastic	NOUN
ajeer-236	359	8	group	group	NOUN
ajeer-236	359	9	is	be	AUX
ajeer-236	359	10	worse	bad	ADJ
ajeer-236	359	11	than	than	ADP
ajeer-236	359	12	the	the	DET
ajeer-236	359	13	whole	whole	ADJ
ajeer-236	359	14	market	market	NOUN
ajeer-236	359	15	by	by	ADP
ajeer-236	359	16	16.01	16.01	NUM
ajeer-236	359	17	%	%	NOUN
ajeer-236	359	18	.	.	PUNCT
ajeer-236	360	1	this	this	PRON
ajeer-236	360	2	is	be	AUX
ajeer-236	360	3	probably	probably	ADV
ajeer-236	360	4	because	because	SCONJ
ajeer-236	360	5	the	the	DET
ajeer-236	360	6	peak	peak	NOUN
ajeer-236	360	7	in	in	ADP
ajeer-236	360	8	taiwan‟s	taiwan‟s	ADJ
ajeer-236	360	9	stock	stock	NOUN
ajeer-236	360	10	market	market	NOUN
ajeer-236	360	11	is	be	AUX
ajeer-236	360	12	mainly	mainly	ADV
ajeer-236	360	13	caused	cause	VERB
ajeer-236	360	14	by	by	ADP
ajeer-236	360	15	iphone‟s	iphone‟s	NOUN
ajeer-236	360	16	supply	supply	NOUN
ajeer-236	360	17	chain	chain	NOUN
ajeer-236	360	18	companies	company	NOUN
ajeer-236	360	19	.	.	PUNCT
ajeer-236	361	1	table-10.1	table-10.1	PROPN
ajeer-236	361	2	.	.	PUNCT
ajeer-236	362	1	investment	investment	NOUN
ajeer-236	362	2	returns	return	NOUN
ajeer-236	362	3	of	of	ADP
ajeer-236	362	4	model	model	NOUN
ajeer-236	362	5	1	1	NUM
ajeer-236	362	6	,	,	PUNCT
ajeer-236	362	7	including	include	VERB
ajeer-236	362	8	formosa	formosa	PROPN
ajeer-236	362	9	advanced	advance	VERB
ajeer-236	362	10	technologies	technology	NOUN
ajeer-236	362	11	as	as	ADP
ajeer-236	362	12	the	the	DET
ajeer-236	362	13	leading	lead	VERB
ajeer-236	362	14	company	company	NOUN
ajeer-236	362	15	(	(	PUNCT
ajeer-236	362	16	unit	unit	NOUN
ajeer-236	362	17	:	:	PUNCT
ajeer-236	362	18	$	$	SYM
ajeer-236	362	19	,	,	PUNCT
ajeer-236	362	20	times	time	NOUN
ajeer-236	362	21	,	,	PUNCT
ajeer-236	362	22	%	%	INTJ
ajeer-236	362	23	)	)	PUNCT
ajeer-236	362	24	company	company	NOUN
ajeer-236	362	25	code	code	NOUN
ajeer-236	362	26	2007.12.10	2007.12.10	NUM
ajeer-236	362	27	-	-	SYM
ajeer-236	362	28	2014.12.29	2014.12.29	NUM
ajeer-236	362	29	2007.12.10	2007.12.10	ADJ
ajeer-236	362	30	-	-	PUNCT
ajeer-236	362	31	2017.8.10	2017.8.10	ADJ
ajeer-236	362	32	changes	change	NOUN
ajeer-236	362	33	in	in	ADP
ajeer-236	362	34	profits	profit	NOUN
ajeer-236	362	35	total	total	ADJ
ajeer-236	362	36	profits	profit	NOUN
ajeer-236	362	37	net	net	ADJ
ajeer-236	362	38	profit	profit	NOUN
ajeer-236	362	39	no	no	INTJ
ajeer-236	362	40	.	.	PUNCT
ajeer-236	362	41	of	of	ADP
ajeer-236	362	42	transactions	transaction	NOUN
ajeer-236	362	43	winning	win	VERB
ajeer-236	362	44	probability	probability	NOUN
ajeer-236	362	45	net	net	ADJ
ajeer-236	362	46	profit	profit	NOUN
ajeer-236	362	47	no	no	INTJ
ajeer-236	362	48	.	.	PUNCT
ajeer-236	362	49	of	of	ADP
ajeer-236	362	50	transactions	transaction	NOUN
ajeer-236	362	51	winning	win	VERB
ajeer-236	362	52	probability	probability	NOUN
ajeer-236	362	53	a1301	a1301	NUM
ajeer-236	362	54	26.56	26.56	NUM
ajeer-236	362	55	1	1	NUM
ajeer-236	362	56	-100	-100	PROPN
ajeer-236	362	57	35.88	35.88	NUM
ajeer-236	362	58	3	3	NUM
ajeer-236	362	59	100	100	NUM
ajeer-236	362	60	9.32	9.32	NUM
ajeer-236	362	61	44.2	44.2	NUM
ajeer-236	363	1	a1303	a1303	NUM
ajeer-236	363	2	25	25	NUM
ajeer-236	363	3	1	1	NUM
ajeer-236	363	4	100	100	NUM
ajeer-236	363	5	25	25	NUM
ajeer-236	363	6	1	1	NUM
ajeer-236	363	7	100	100	NUM
ajeer-236	363	8	0	0	NUM
ajeer-236	364	1	a6505	a6505	NUM
ajeer-236	364	2	14.1	14.1	NUM
ajeer-236	364	3	5	5	NUM
ajeer-236	364	4	80	80	NUM
ajeer-236	364	5	27.64	27.64	NUM
ajeer-236	364	6	9	9	NUM
ajeer-236	364	7	64	64	NUM
ajeer-236	364	8	13.54	13.54	NUM
ajeer-236	364	9	a1326	a1326	NOUN
ajeer-236	364	10	48.36	48.36	NUM
ajeer-236	364	11	4	4	NUM
ajeer-236	364	12	75	75	NUM
ajeer-236	364	13	48.36	48.36	NUM
ajeer-236	364	14	4	4	NUM
ajeer-236	364	15	75	75	NUM
ajeer-236	364	16	0	0	NUM
ajeer-236	365	1	a1434	a1434	NUM
ajeer-236	365	2	14.34	14.34	NUM
ajeer-236	365	3	1	1	NUM
ajeer-236	365	4	100	100	NUM
ajeer-236	365	5	14.68	14.68	NUM
ajeer-236	365	6	2	2	NUM
ajeer-236	365	7	100	100	NUM
ajeer-236	365	8	0.34	0.34	NUM
ajeer-236	365	9	a2408	a2408	PROPN
ajeer-236	365	10	44.6	44.6	NUM
ajeer-236	365	11	4	4	NUM
ajeer-236	365	12	100	100	NUM
ajeer-236	365	13	59.7	59.7	NUM
ajeer-236	365	14	6	6	NUM
ajeer-236	365	15	100	100	NUM
ajeer-236	365	16	15.1	15.1	NUM
ajeer-236	365	17	a8406	a8406	NOUN
ajeer-236	365	18	128.7	128.7	NUM
ajeer-236	365	19	5	5	NUM
ajeer-236	365	20	80	80	NUM
ajeer-236	365	21	132.07	132.07	NUM
ajeer-236	365	22	6	6	NUM
ajeer-236	365	23	83	83	NUM
ajeer-236	365	24	3.37	3.37	NUM
ajeer-236	365	25	a3532	a3532	NUM
ajeer-236	365	26	52.0	52.0	NUM
ajeer-236	365	27	6	6	NUM
ajeer-236	365	28	83	83	NUM
ajeer-236	365	29	54.53	54.53	NUM
ajeer-236	365	30	8	8	NUM
ajeer-236	365	31	75	75	NUM
ajeer-236	365	32	2.53	2.53	NUM
ajeer-236	365	33	note	note	NOUN
ajeer-236	365	34	:	:	PUNCT
ajeer-236	365	35	the	the	DET
ajeer-236	365	36	first	first	ADJ
ajeer-236	365	37	stage	stage	NOUN
ajeer-236	365	38	covers	cover	VERB
ajeer-236	365	39	the	the	DET
ajeer-236	365	40	period	period	NOUN
ajeer-236	365	41	2007.12.10~2014.12.29	2007.12.10~2014.12.29	NUM
ajeer-236	365	42	.	.	PUNCT
ajeer-236	366	1	the	the	DET
ajeer-236	366	2	second	second	ADJ
ajeer-236	366	3	stage	stage	NOUN
ajeer-236	366	4	covers	cover	VERB
ajeer-236	366	5	the	the	DET
ajeer-236	366	6	period	period	NOUN
ajeer-236	366	7	2007.12.10~2017.8.10	2007.12.10~2017.8.10	NUM
ajeer-236	366	8	.	.	PUNCT
ajeer-236	367	1	changes	change	NOUN
ajeer-236	367	2	in	in	ADP
ajeer-236	367	3	profits	profit	NOUN
ajeer-236	367	4	cover	cover	VERB
ajeer-236	367	5	the	the	DET
ajeer-236	367	6	period	period	NOUN
ajeer-236	367	7	2014.10.29~2017.8.10	2014.10.29~2017.8.10	NUM
ajeer-236	367	8	.	.	PUNCT
ajeer-236	368	1	the	the	DET
ajeer-236	368	2	results	result	NOUN
ajeer-236	368	3	of	of	ADP
ajeer-236	368	4	model	model	NOUN
ajeer-236	368	5	2	2	NUM
ajeer-236	368	6	show	show	VERB
ajeer-236	368	7	that	that	SCONJ
ajeer-236	368	8	four	four	NUM
ajeer-236	368	9	companies	company	NOUN
ajeer-236	368	10	in	in	ADP
ajeer-236	368	11	model	model	NOUN
ajeer-236	368	12	2	2	NUM
ajeer-236	368	13	increase	increase	NOUN
ajeer-236	368	14	the	the	DET
ajeer-236	368	15	returns	return	NOUN
ajeer-236	368	16	in	in	ADP
ajeer-236	368	17	the	the	DET
ajeer-236	368	18	second	second	ADJ
ajeer-236	368	19	stage	stage	NOUN
ajeer-236	368	20	.	.	PUNCT
ajeer-236	369	1	the	the	DET
ajeer-236	369	2	portfolio	portfolio	NOUN
ajeer-236	369	3	formed	form	VERB
ajeer-236	369	4	by	by	ADP
ajeer-236	369	5	eight	eight	NUM
ajeer-236	369	6	companies	company	NOUN
ajeer-236	369	7	in	in	ADP
ajeer-236	369	8	the	the	DET
ajeer-236	369	9	formosa	formosa	PROPN
ajeer-236	369	10	plastics	plastic	NOUN
ajeer-236	369	11	group	group	NOUN
ajeer-236	369	12	is	be	AUX
ajeer-236	369	13	also	also	ADV
ajeer-236	369	14	profitable	profitable	ADJ
ajeer-236	369	15	(	(	PUNCT
ajeer-236	369	16	table	table	NOUN
ajeer-236	369	17	10	10	NUM
ajeer-236	369	18	-	-	SYM
ajeer-236	369	19	2	2	NUM
ajeer-236	369	20	)	)	PUNCT
ajeer-236	369	21	.	.	PUNCT
ajeer-236	370	1	the	the	DET
ajeer-236	370	2	profit	profit	NOUN
ajeer-236	370	3	in	in	ADP
ajeer-236	370	4	the	the	DET
ajeer-236	370	5	first	first	ADJ
ajeer-236	370	6	stage	stage	NOUN
ajeer-236	370	7	is	be	AUX
ajeer-236	370	8	$	$	SYM
ajeer-236	370	9	192.76	192.76	NUM
ajeer-236	370	10	and	and	CCONJ
ajeer-236	370	11	increases	increase	NOUN
ajeer-236	370	12	by	by	ADP
ajeer-236	370	13	$	$	SYM
ajeer-236	370	14	28.35	28.35	NUM
ajeer-236	370	15	(	(	PUNCT
ajeer-236	370	16	14.7	14.7	NUM
ajeer-236	370	17	%	%	NOUN
ajeer-236	370	18	)	)	PUNCT
ajeer-236	370	19	in	in	ADP
ajeer-236	370	20	the	the	DET
ajeer-236	370	21	second	second	ADJ
ajeer-236	370	22	stage	stage	NOUN
ajeer-236	370	23	.	.	PUNCT
ajeer-236	371	1	the	the	DET
ajeer-236	371	2	results	result	NOUN
ajeer-236	371	3	are	be	AUX
ajeer-236	371	4	better	well	ADJ
ajeer-236	371	5	than	than	ADP
ajeer-236	371	6	that	that	PRON
ajeer-236	371	7	in	in	ADP
ajeer-236	371	8	model	model	NOUN
ajeer-236	371	9	1	1	NUM
ajeer-236	371	10	.	.	PUNCT
ajeer-236	372	1	however	however	ADV
ajeer-236	372	2	,	,	PUNCT
ajeer-236	372	3	when	when	SCONJ
ajeer-236	372	4	the	the	DET
ajeer-236	372	5	profit	profit	NOUN
ajeer-236	372	6	of	of	ADP
ajeer-236	372	7	$	$	SYM
ajeer-236	372	8	353.66	353.66	NUM
ajeer-236	372	9	in	in	ADP
ajeer-236	372	10	model	model	NOUN
ajeer-236	372	11	1	1	NUM
ajeer-236	372	12	is	be	AUX
ajeer-236	372	13	used	use	VERB
ajeer-236	372	14	as	as	ADP
ajeer-236	372	15	the	the	DET
ajeer-236	372	16	denominator	denominator	NOUN
ajeer-236	372	17	,	,	PUNCT
ajeer-236	372	18	the	the	DET
ajeer-236	372	19	increase	increase	NOUN
ajeer-236	372	20	is	be	AUX
ajeer-236	372	21	only	only	ADV
ajeer-236	372	22	8.01	8.01	NUM
ajeer-236	372	23	%	%	NOUN
ajeer-236	372	24	,	,	PUNCT
ajeer-236	372	25	which	which	PRON
ajeer-236	372	26	is	be	AUX
ajeer-236	372	27	worse	bad	ADJ
ajeer-236	372	28	than	than	ADP
ajeer-236	372	29	the	the	DET
ajeer-236	372	30	12.49	12.49	NUM
ajeer-236	372	31	%	%	NOUN
ajeer-236	372	32	in	in	ADP
ajeer-236	372	33	model	model	NOUN
ajeer-236	372	34	1	1	NUM
ajeer-236	372	35	.	.	PUNCT
ajeer-236	373	1	therefore	therefore	ADV
ajeer-236	373	2	,	,	PUNCT
ajeer-236	373	3	the	the	DET
ajeer-236	373	4	model	model	NOUN
ajeer-236	373	5	with	with	ADP
ajeer-236	373	6	formosa	formosa	PROPN
ajeer-236	373	7	advanced	advance	VERB
ajeer-236	373	8	technologies	technology	NOUN
ajeer-236	373	9	as	as	ADP
ajeer-236	373	10	the	the	DET
ajeer-236	373	11	leading	lead	VERB
ajeer-236	373	12	company	company	NOUN
ajeer-236	373	13	is	be	AUX
ajeer-236	373	14	better	well	ADJ
ajeer-236	373	15	than	than	ADP
ajeer-236	373	16	the	the	DET
ajeer-236	373	17	model	model	NOUN
ajeer-236	373	18	with	with	ADP
ajeer-236	373	19	nan	nan	PROPN
ajeer-236	373	20	ya	ya	PROPN
ajeer-236	373	21	printed	print	VERB
ajeer-236	373	22	circuit	circuit	NOUN
ajeer-236	373	23	board	board	NOUN
ajeer-236	373	24	as	as	ADP
ajeer-236	373	25	the	the	DET
ajeer-236	373	26	leading	lead	VERB
ajeer-236	373	27	company	company	NOUN
ajeer-236	373	28	.	.	PUNCT
ajeer-236	374	1	the	the	DET
ajeer-236	374	2	results	result	NOUN
ajeer-236	374	3	of	of	ADP
ajeer-236	374	4	formosa	formosa	PROPN
ajeer-236	374	5	plastics	plastic	NOUN
ajeer-236	374	6	group	group	NOUN
ajeer-236	374	7	also	also	ADV
ajeer-236	374	8	provide	provide	VERB
ajeer-236	374	9	support	support	NOUN
ajeer-236	374	10	for	for	ADP
ajeer-236	374	11	hypothesis	hypothesis	NOUN
ajeer-236	374	12	1	1	NUM
ajeer-236	374	13	and	and	CCONJ
ajeer-236	374	14	2	2	NUM
ajeer-236	374	15	.	.	X
ajeer-236	374	16	that	that	PRON
ajeer-236	374	17	is	is	ADV
ajeer-236	374	18	,	,	PUNCT
ajeer-236	374	19	including	include	VERB
ajeer-236	374	20	the	the	DET
ajeer-236	374	21	stock	stock	NOUN
ajeer-236	374	22	price	price	NOUN
ajeer-236	374	23	data	datum	NOUN
ajeer-236	374	24	of	of	ADP
ajeer-236	374	25	the	the	DET
ajeer-236	374	26	leading	lead	VERB
ajeer-236	374	27	company	company	NOUN
ajeer-236	374	28	can	can	AUX
ajeer-236	374	29	lower	lower	VERB
ajeer-236	374	30	the	the	DET
ajeer-236	374	31	impact	impact	NOUN
ajeer-236	374	32	of	of	ADP
ajeer-236	374	33	negative	negative	ADJ
ajeer-236	374	34	news	news	NOUN
ajeer-236	374	35	.	.	PUNCT
ajeer-236	375	1	in	in	ADP
ajeer-236	375	2	addition	addition	NOUN
ajeer-236	375	3	,	,	PUNCT
ajeer-236	375	4	after	after	ADP
ajeer-236	375	5	choosing	choose	VERB
ajeer-236	375	6	the	the	DET
ajeer-236	375	7	leading	lead	VERB
ajeer-236	375	8	company	company	NOUN
ajeer-236	375	9	of	of	ADP
ajeer-236	375	10	the	the	DET
ajeer-236	375	11	business	business	NOUN
ajeer-236	375	12	group	group	NOUN
ajeer-236	375	13	,	,	PUNCT
ajeer-236	375	14	we	we	PRON
ajeer-236	375	15	can	can	AUX
ajeer-236	375	16	use	use	VERB
ajeer-236	375	17	technical	technical	ADJ
ajeer-236	375	18	analysis	analysis	NOUN
ajeer-236	375	19	to	to	PART
ajeer-236	375	20	enhance	enhance	VERB
ajeer-236	375	21	the	the	DET
ajeer-236	375	22	trading	trading	NOUN
ajeer-236	375	23	performance	performance	NOUN
ajeer-236	375	24	in	in	ADP
ajeer-236	375	25	the	the	DET
ajeer-236	375	26	stock	stock	NOUN
ajeer-236	375	27	market	market	NOUN
ajeer-236	375	28	and	and	CCONJ
ajeer-236	375	29	we	we	PRON
ajeer-236	375	30	indirectly	indirectly	ADV
ajeer-236	375	31	prove	prove	VERB
ajeer-236	375	32	the	the	DET
ajeer-236	375	33	existence	existence	NOUN
ajeer-236	375	34	of	of	ADP
ajeer-236	375	35	herding	herding	NOUN
ajeer-236	375	36	behavior	behavior	NOUN
ajeer-236	375	37	.	.	PUNCT
ajeer-236	376	1	table-10.2	table-10.2	NOUN
ajeer-236	376	2	.	.	PUNCT
ajeer-236	377	1	investment	investment	NOUN
ajeer-236	377	2	returns	return	NOUN
ajeer-236	377	3	of	of	ADP
ajeer-236	377	4	model	model	NOUN
ajeer-236	377	5	2	2	NUM
ajeer-236	377	6	,	,	PUNCT
ajeer-236	377	7	including	include	VERB
ajeer-236	377	8	nan	nan	PROPN
ajeer-236	377	9	ya	ya	PROPN
ajeer-236	377	10	printed	print	VERB
ajeer-236	377	11	circuit	circuit	NOUN
ajeer-236	377	12	board	board	NOUN
ajeer-236	377	13	as	as	ADP
ajeer-236	377	14	the	the	DET
ajeer-236	377	15	leading	lead	VERB
ajeer-236	377	16	company	company	NOUN
ajeer-236	377	17	(	(	PUNCT
ajeer-236	377	18	unit	unit	NOUN
ajeer-236	377	19	:	:	PUNCT
ajeer-236	377	20	$	$	SYM
ajeer-236	377	21	,	,	PUNCT
ajeer-236	377	22	times	time	NOUN
ajeer-236	377	23	,	,	PUNCT
ajeer-236	377	24	%	%	INTJ
ajeer-236	377	25	)	)	PUNCT
ajeer-236	377	26	company	company	NOUN
ajeer-236	377	27	code	code	NOUN
ajeer-236	377	28	2007.12.10	2007.12.10	NUM
ajeer-236	377	29	-	-	SYM
ajeer-236	377	30	2014.10.29	2014.10.29	NUM
ajeer-236	377	31	2007.12.10	2007.12.10	NUM
ajeer-236	377	32	-	-	SYM
ajeer-236	377	33	2017.8.10	2017.8.10	ADJ
ajeer-236	377	34	changes	change	NOUN
ajeer-236	377	35	in	in	ADP
ajeer-236	377	36	profits	profit	NOUN
ajeer-236	377	37	total	total	ADJ
ajeer-236	377	38	profits	profit	NOUN
ajeer-236	377	39	net	net	ADJ
ajeer-236	377	40	profit	profit	NOUN
ajeer-236	377	41	no	no	INTJ
ajeer-236	377	42	.	.	PUNCT
ajeer-236	377	43	of	of	ADP
ajeer-236	377	44	transactions	transaction	NOUN
ajeer-236	377	45	winning	win	VERB
ajeer-236	377	46	probability	probability	NOUN
ajeer-236	377	47	net	net	ADJ
ajeer-236	377	48	profit	profit	NOUN
ajeer-236	377	49	no	no	INTJ
ajeer-236	377	50	.	.	PUNCT
ajeer-236	377	51	of	of	ADP
ajeer-236	377	52	transactions	transaction	NOUN
ajeer-236	377	53	winning	win	VERB
ajeer-236	377	54	probability	probability	NOUN
ajeer-236	377	55	a1301	a1301	PROPN
ajeer-236	377	56	26.81	26.81	NUM
ajeer-236	377	57	1	1	NUM
ajeer-236	377	58	100	100	NUM
ajeer-236	377	59	48.67	48.67	NUM
ajeer-236	377	60	2	2	NUM
ajeer-236	377	61	100	100	NUM
ajeer-236	377	62	21.86	21.86	NUM
ajeer-236	377	63	28.35	28.35	NUM
ajeer-236	377	64	a1303	a1303	NUM
ajeer-236	377	65	27.46	27.46	NUM
ajeer-236	377	66	1	1	NUM
ajeer-236	377	67	100	100	NUM
ajeer-236	377	68	27.46	27.46	NUM
ajeer-236	377	69	1	1	NUM
ajeer-236	377	70	100	100	NUM
ajeer-236	377	71	0	0	NUM
ajeer-236	378	1	a6505	a6505	ADJ
ajeer-236	378	2	11.9	11.9	NUM
ajeer-236	378	3	1	1	NUM
ajeer-236	378	4	100	100	NUM
ajeer-236	378	5	11.9	11.9	NUM
ajeer-236	378	6	1	1	NUM
ajeer-236	378	7	100	100	NUM
ajeer-236	378	8	0	0	NUM
ajeer-236	378	9	a1326	a1326	NOUN
ajeer-236	378	10	34.54	34.54	NUM
ajeer-236	378	11	6	6	NUM
ajeer-236	378	12	83	83	NUM
ajeer-236	378	13	40.92	40.92	NUM
ajeer-236	378	14	8	8	NUM
ajeer-236	378	15	75	75	NUM
ajeer-236	378	16	6.38	6.38	NUM
ajeer-236	378	17	a1434	a1434	NOUN
ajeer-236	378	18	12.23	12.23	NUM
ajeer-236	378	19	1	1	NUM
ajeer-236	378	20	100	100	NUM
ajeer-236	378	21	12.23	12.23	NUM
ajeer-236	378	22	1	1	NUM
ajeer-236	378	23	100	100	NUM
ajeer-236	378	24	0	0	NUM
ajeer-236	378	25	a2408	a2408	PROPN
ajeer-236	378	26	27.98	27.98	NUM
ajeer-236	378	27	2	2	NUM
ajeer-236	378	28	100	100	NUM
ajeer-236	378	29	28.68	28.68	NUM
ajeer-236	378	30	3	3	NUM
ajeer-236	378	31	100	100	NUM
ajeer-236	378	32	0.7	0.7	NUM
ajeer-236	378	33	a8131	a8131	PROPN
ajeer-236	378	34	24.79	24.79	NUM
ajeer-236	378	35	4	4	NUM
ajeer-236	378	36	75	75	NUM
ajeer-236	378	37	26.55	26.55	NUM
ajeer-236	378	38	5	5	NUM
ajeer-236	378	39	80	80	NUM
ajeer-236	378	40	1.76	1.76	NUM
ajeer-236	378	41	a3532	a3532	NUM
ajeer-236	378	42	27.05	27.05	NUM
ajeer-236	378	43	6	6	NUM
ajeer-236	378	44	83	83	NUM
ajeer-236	378	45	24.7	24.7	NUM
ajeer-236	378	46	11	11	NUM
ajeer-236	378	47	63	63	NUM
ajeer-236	378	48	-2.35	-2.35	NUM
ajeer-236	378	49	asian	asian	ADJ
ajeer-236	378	50	journal	journal	NOUN
ajeer-236	378	51	of	of	ADP
ajeer-236	378	52	economics	economic	NOUN
ajeer-236	378	53	and	and	CCONJ
ajeer-236	378	54	empirical	empirical	ADJ
ajeer-236	378	55	research	research	NOUN
ajeer-236	378	56	,	,	PUNCT
ajeer-236	378	57	2017	2017	NUM
ajeer-236	378	58	,	,	PUNCT
ajeer-236	378	59	4(2	4(2	NUM
ajeer-236	378	60	):	):	PUNCT
ajeer-236	378	61	106	106	NUM
ajeer-236	378	62	-	-	SYM
ajeer-236	378	63	120	120	NUM
ajeer-236	378	64	115	115	NUM
ajeer-236	378	65	6	6	NUM
ajeer-236	378	66	.	.	PUNCT
ajeer-236	379	1	empirical	empirical	ADJ
ajeer-236	379	2	results	result	NOUN
ajeer-236	379	3	of	of	ADP
ajeer-236	379	4	the	the	DET
ajeer-236	379	5	far	far	ADV
ajeer-236	379	6	eastern	eastern	ADJ
ajeer-236	379	7	group	group	NOUN
ajeer-236	379	8	6.1	6.1	NUM
ajeer-236	379	9	.	.	PUNCT
ajeer-236	380	1	granger	granger	PROPN
ajeer-236	380	2	causality	causality	PROPN
ajeer-236	380	3	test	test	NOUN
ajeer-236	380	4	of	of	ADP
ajeer-236	380	5	the	the	DET
ajeer-236	380	6	far	far	ADV
ajeer-236	380	7	eastern	eastern	ADJ
ajeer-236	380	8	group	group	NOUN
ajeer-236	380	9	6.1.1	6.1.1	PROPN
ajeer-236	380	10	.	.	PUNCT
ajeer-236	380	11	unit	unit	NOUN
ajeer-236	380	12	root	root	PROPN
ajeer-236	380	13	test	test	NOUN
ajeer-236	380	14	of	of	ADP
ajeer-236	380	15	model	model	NOUN
ajeer-236	380	16	variables	variable	NOUN
ajeer-236	380	17	of	of	ADP
ajeer-236	380	18	far	far	ADV
ajeer-236	380	19	eastern	eastern	ADJ
ajeer-236	380	20	group	group	NOUN
ajeer-236	380	21	to	to	PART
ajeer-236	380	22	ensure	ensure	VERB
ajeer-236	380	23	the	the	DET
ajeer-236	380	24	validity	validity	NOUN
ajeer-236	380	25	of	of	ADP
ajeer-236	380	26	empirical	empirical	ADJ
ajeer-236	380	27	results	result	NOUN
ajeer-236	381	1	,	,	PUNCT
ajeer-236	381	2	we	we	PRON
ajeer-236	381	3	check	check	VERB
ajeer-236	381	4	the	the	DET
ajeer-236	381	5	stationarity	stationarity	NOUN
ajeer-236	381	6	of	of	ADP
ajeer-236	381	7	the	the	DET
ajeer-236	381	8	series	series	NOUN
ajeer-236	381	9	by	by	ADP
ajeer-236	381	10	testing	test	VERB
ajeer-236	381	11	the	the	DET
ajeer-236	381	12	var	var	NOUN
ajeer-236	381	13	model	model	NOUN
ajeer-236	381	14	and	and	CCONJ
ajeer-236	381	15	choosing	choose	VERB
ajeer-236	381	16	the	the	DET
ajeer-236	381	17	minimal	minimal	ADJ
ajeer-236	381	18	aic	aic	PROPN
ajeer-236	381	19	value	value	NOUN
ajeer-236	381	20	.	.	PUNCT
ajeer-236	382	1	taking	take	VERB
ajeer-236	382	2	asia	asia	PROPN
ajeer-236	382	3	cement	cement	NOUN
ajeer-236	382	4	as	as	ADP
ajeer-236	382	5	an	an	DET
ajeer-236	382	6	example	example	NOUN
ajeer-236	382	7	,	,	PUNCT
ajeer-236	382	8	the	the	DET
ajeer-236	382	9	results	result	NOUN
ajeer-236	382	10	reject	reject	VERB
ajeer-236	382	11	the	the	DET
ajeer-236	382	12	null	null	ADJ
ajeer-236	382	13	hypothesis	hypothesis	NOUN
ajeer-236	382	14	when	when	SCONJ
ajeer-236	382	15	the	the	DET
ajeer-236	382	16	intercept	intercept	NOUN
ajeer-236	382	17	and	and	CCONJ
ajeer-236	382	18	trend	trend	NOUN
ajeer-236	382	19	(	(	PUNCT
ajeer-236	382	20	2.9108(0	2.9108(0	NUM
ajeer-236	382	21	)	)	PUNCT
ajeer-236	382	22	)	)	PUNCT
ajeer-236	382	23	are	be	AUX
ajeer-236	382	24	included	include	VERB
ajeer-236	382	25	.	.	PUNCT
ajeer-236	383	1	that	that	PRON
ajeer-236	383	2	is	is	ADV
ajeer-236	383	3	,	,	PUNCT
ajeer-236	383	4	the	the	DET
ajeer-236	383	5	variable	variable	NOUN
ajeer-236	383	6	is	be	AUX
ajeer-236	383	7	stationary	stationary	ADJ
ajeer-236	383	8	.	.	PUNCT
ajeer-236	384	1	therefore	therefore	ADV
ajeer-236	384	2	,	,	PUNCT
ajeer-236	384	3	we	we	PRON
ajeer-236	384	4	can	can	AUX
ajeer-236	384	5	proceed	proceed	VERB
ajeer-236	384	6	with	with	ADP
ajeer-236	384	7	var	var	NOUN
ajeer-236	384	8	and	and	CCONJ
ajeer-236	384	9	granger	granger	PROPN
ajeer-236	384	10	causality	causality	PROPN
ajeer-236	384	11	test	test	NOUN
ajeer-236	384	12	.	.	PUNCT
ajeer-236	385	1	other	other	ADJ
ajeer-236	385	2	variables	variable	NOUN
ajeer-236	385	3	are	be	AUX
ajeer-236	385	4	found	find	VERB
ajeer-236	385	5	to	to	PART
ajeer-236	385	6	have	have	VERB
ajeer-236	385	7	fat	fat	ADJ
ajeer-236	385	8	tails	tail	NOUN
ajeer-236	385	9	and	and	CCONJ
ajeer-236	385	10	autocorrelation	autocorrelation	NOUN
ajeer-236	385	11	.	.	PUNCT
ajeer-236	386	1	that	that	PRON
ajeer-236	386	2	is	be	AUX
ajeer-236	386	3	,	,	PUNCT
ajeer-236	386	4	i(1	i(1	PROPN
ajeer-236	386	5	)	)	PUNCT
ajeer-236	386	6	is	be	AUX
ajeer-236	386	7	not	not	PART
ajeer-236	386	8	stationary	stationary	ADJ
ajeer-236	386	9	.	.	PUNCT
ajeer-236	387	1	after	after	ADP
ajeer-236	387	2	taking	take	VERB
ajeer-236	387	3	a	a	DET
ajeer-236	387	4	difference	difference	NOUN
ajeer-236	387	5	,	,	PUNCT
ajeer-236	387	6	the	the	DET
ajeer-236	387	7	null	null	ADJ
ajeer-236	387	8	hypotheses	hypothesis	NOUN
ajeer-236	387	9	are	be	AUX
ajeer-236	387	10	rejected	reject	VERB
ajeer-236	387	11	(	(	PUNCT
ajeer-236	387	12	table	table	NOUN
ajeer-236	387	13	11	11	NUM
ajeer-236	387	14	)	)	PUNCT
ajeer-236	387	15	and	and	CCONJ
ajeer-236	387	16	i(0	i(0	PROPN
ajeer-236	387	17	)	)	PUNCT
ajeer-236	387	18	is	be	AUX
ajeer-236	387	19	stationary	stationary	ADJ
ajeer-236	387	20	.	.	PUNCT
ajeer-236	388	1	table-11	table-11	PROPN
ajeer-236	388	2	.	.	PROPN
ajeer-236	388	3	unit	unit	NOUN
ajeer-236	388	4	root	root	PROPN
ajeer-236	388	5	test	test	NOUN
ajeer-236	388	6	of	of	ADP
ajeer-236	388	7	var	var	PROPN
ajeer-236	388	8	model	model	NOUN
ajeer-236	388	9	variables	variable	NOUN
ajeer-236	388	10	of	of	ADP
ajeer-236	388	11	far	far	ADJ
ajeer-236	388	12	eastern	eastern	ADJ
ajeer-236	388	13	group	group	NOUN
ajeer-236	388	14	original	original	ADJ
ajeer-236	388	15	value	value	NOUN
ajeer-236	388	16	first	first	ADJ
ajeer-236	388	17	order	order	NOUN
ajeer-236	388	18	difference	difference	NOUN
ajeer-236	388	19	variables	variable	NOUN
ajeer-236	388	20	/	/	SYM
ajeer-236	388	21	model	model	NOUN
ajeer-236	388	22	intercept	intercept	NOUN
ajeer-236	388	23	and	and	CCONJ
ajeer-236	388	24	trend	trend	NOUN
ajeer-236	388	25	intercept	intercept	NOUN
ajeer-236	388	26	and	and	CCONJ
ajeer-236	388	27	trend	trend	NOUN
ajeer-236	388	28	a1102	a1102	ADP
ajeer-236	388	29	-2.9108(0	-2.9108(0	PROPN
ajeer-236	388	30	)	)	PUNCT
ajeer-236	389	1	*	*	PUNCT
ajeer-236	389	2	*	*	PUNCT
ajeer-236	389	3	-2.9712(0	-2.9712(0	NOUN
ajeer-236	389	4	)	)	PUNCT
ajeer-236	389	5	-3.2906(0	-3.2906(0	NOUN
ajeer-236	389	6	)	)	PUNCT
ajeer-236	390	1	*	*	PUNCT
ajeer-236	390	2	*	*	PUNCT
ajeer-236	390	3	-2.3558(0	-2.3558(0	PROPN
ajeer-236	390	4	)	)	PUNCT
ajeer-236	390	5	-3.3800(1	-3.3800(1	NUM
ajeer-236	390	6	)	)	PUNCT
ajeer-236	391	1	*	*	PUNCT
ajeer-236	391	2	*	*	PUNCT
ajeer-236	391	3	-2.2999(0	-2.2999(0	X
ajeer-236	391	4	)	)	PUNCT
ajeer-236	391	5	-2.3971(1	-2.3971(1	NUM
ajeer-236	391	6	)	)	PUNCT
ajeer-236	391	7	-2.7583(0	-2.7583(0	NUM
ajeer-236	391	8	)	)	PUNCT
ajeer-236	391	9	-2.8347(0	-2.8347(0	PROPN
ajeer-236	391	10	)	)	PUNCT
ajeer-236	392	1	-30.8949(2	-30.8949(2	NOUN
ajeer-236	392	2	)	)	PUNCT
ajeer-236	392	3	*	*	PUNCT
ajeer-236	392	4	-37.5003(0	-37.5003(0	PROPN
ajeer-236	392	5	)	)	PUNCT
ajeer-236	392	6	*	*	PUNCT
ajeer-236	392	7	-46.5832(0	-46.5832(0	PROPN
ajeer-236	392	8	)	)	PUNCT
ajeer-236	392	9	*	*	PUNCT
ajeer-236	392	10	-47.3465(0	-47.3465(0	PROPN
ajeer-236	392	11	)	)	PUNCT
ajeer-236	392	12	*	*	PUNCT
ajeer-236	392	13	-43.2681(0	-43.2681(0	PROPN
ajeer-236	392	14	)	)	PUNCT
ajeer-236	392	15	*	*	PUNCT
ajeer-236	393	1	-47.5449(0	-47.5449(0	PROPN
ajeer-236	393	2	)	)	PUNCT
ajeer-236	393	3	*	*	PUNCT
ajeer-236	393	4	-40.2399(0	-40.2399(0	NUM
ajeer-236	393	5	)	)	PUNCT
ajeer-236	393	6	*	*	PUNCT
ajeer-236	394	1	-36.7305(1	-36.7305(1	NOUN
ajeer-236	394	2	)	)	PUNCT
ajeer-236	394	3	*	*	PUNCT
ajeer-236	395	1	-48.7114(0	-48.7114(0	PROPN
ajeer-236	395	2	)	)	PUNCT
ajeer-236	395	3	*	*	PUNCT
ajeer-236	395	4	a1402	a1402	ADP
ajeer-236	395	5	a1460	a1460	PRON
ajeer-236	395	6	a1710	a1710	PROPN
ajeer-236	395	7	a2606	a2606	PROPN
ajeer-236	395	8	a2845	a2845	PROPN
ajeer-236	396	1	a2903	a2903	NOUN
ajeer-236	396	2	a4904	a4904	CCONJ
ajeer-236	396	3	a50	a50	NOUN
ajeer-236	396	4	note	note	NOUN
ajeer-236	396	5	:	:	PUNCT
ajeer-236	396	6	*	*	PUNCT
ajeer-236	396	7	，	，	PROPN
ajeer-236	396	8	*	*	PUNCT
ajeer-236	396	9	*	*	PUNCT
ajeer-236	396	10	，	，	PROPN
ajeer-236	396	11	*	*	PUNCT
ajeer-236	396	12	*	*	PUNCT
ajeer-236	396	13	*	*	PUNCT
ajeer-236	396	14	shows	show	VERB
ajeer-236	396	15	significance	significance	NOUN
ajeer-236	396	16	level	level	NOUN
ajeer-236	396	17	at	at	ADP
ajeer-236	396	18	1	1	NUM
ajeer-236	396	19	%	%	NOUN
ajeer-236	396	20	,	,	PUNCT
ajeer-236	396	21	5	5	NUM
ajeer-236	396	22	%	%	NOUN
ajeer-236	396	23	and	and	CCONJ
ajeer-236	396	24	10	10	NUM
ajeer-236	396	25	%	%	NOUN
ajeer-236	396	26	.	.	PUNCT
ajeer-236	397	1	the	the	DET
ajeer-236	397	2	number	number	NOUN
ajeer-236	397	3	inside	inside	ADP
ajeer-236	397	4	the	the	DET
ajeer-236	397	5	bracket	bracket	NOUN
ajeer-236	397	6	represents	represent	VERB
ajeer-236	397	7	the	the	DET
ajeer-236	397	8	number	number	NOUN
ajeer-236	397	9	of	of	ADP
ajeer-236	397	10	lagging	lag	VERB
ajeer-236	397	11	periods	period	NOUN
ajeer-236	397	12	.	.	PUNCT
ajeer-236	398	1	(	(	PUNCT
ajeer-236	398	2	0	0	X
ajeer-236	398	3	)	)	PUNCT
ajeer-236	398	4	shows	show	VERB
ajeer-236	398	5	that	that	SCONJ
ajeer-236	398	6	when	when	SCONJ
ajeer-236	398	7	the	the	DET
ajeer-236	398	8	lag	lag	NOUN
ajeer-236	398	9	period	period	NOUN
ajeer-236	398	10	is	be	AUX
ajeer-236	398	11	0	0	NUM
ajeer-236	398	12	,	,	PUNCT
ajeer-236	398	13	it	it	PRON
ajeer-236	398	14	has	have	VERB
ajeer-236	398	15	the	the	DET
ajeer-236	398	16	minimal	minimal	ADJ
ajeer-236	398	17	aic	aic	PROPN
ajeer-236	398	18	.	.	PUNCT
ajeer-236	399	1	sample	sample	PROPN
ajeer-236	399	2	code	code	NOUN
ajeer-236	399	3	is	be	AUX
ajeer-236	399	4	as	as	SCONJ
ajeer-236	399	5	provided	provide	VERB
ajeer-236	399	6	in	in	ADP
ajeer-236	399	7	section	section	NOUN
ajeer-236	399	8	4	4	NUM
ajeer-236	399	9	.	.	PUNCT
ajeer-236	400	1	6.1.2	6.1.2	NUM
ajeer-236	400	2	.	.	PUNCT
ajeer-236	400	3	lag	lag	NOUN
ajeer-236	400	4	-	-	PUNCT
ajeer-236	400	5	period	period	NOUN
ajeer-236	400	6	co	co	NOUN
ajeer-236	400	7	-	-	NOUN
ajeer-236	400	8	integration	integration	NOUN
ajeer-236	400	9	test	test	NOUN
ajeer-236	400	10	of	of	ADP
ajeer-236	400	11	far	far	ADJ
ajeer-236	400	12	eastern	eastern	ADJ
ajeer-236	400	13	group	group	NOUN
ajeer-236	400	14	’s	’s	PART
ajeer-236	400	15	var	var	PROPN
ajeer-236	400	16	model	model	NOUN
ajeer-236	400	17	before	before	ADP
ajeer-236	400	18	proceeding	proceed	VERB
ajeer-236	400	19	with	with	ADP
ajeer-236	400	20	the	the	DET
ajeer-236	400	21	var	var	PROPN
ajeer-236	400	22	model	model	PROPN
ajeer-236	400	23	estimation	estimation	PROPN
ajeer-236	400	24	,	,	PUNCT
ajeer-236	400	25	lag	lag	NOUN
ajeer-236	400	26	periods	period	NOUN
ajeer-236	400	27	need	need	VERB
ajeer-236	400	28	be	be	AUX
ajeer-236	400	29	tested	test	VERB
ajeer-236	400	30	.	.	PUNCT
ajeer-236	401	1	the	the	DET
ajeer-236	401	2	results	result	NOUN
ajeer-236	401	3	show	show	VERB
ajeer-236	401	4	that	that	SCONJ
ajeer-236	401	5	the	the	DET
ajeer-236	401	6	aic	aic	PROPN
ajeer-236	401	7	and	and	CCONJ
ajeer-236	401	8	fpe	fpe	PROPN
ajeer-236	401	9	of	of	ADP
ajeer-236	401	10	the	the	DET
ajeer-236	401	11	far	far	ADV
ajeer-236	401	12	eastern	eastern	ADJ
ajeer-236	401	13	group	group	NOUN
ajeer-236	401	14	are	be	AUX
ajeer-236	401	15	at	at	ADP
ajeer-236	401	16	their	their	PRON
ajeer-236	401	17	minimum	minimum	NOUN
ajeer-236	401	18	when	when	SCONJ
ajeer-236	401	19	the	the	DET
ajeer-236	401	20	data	datum	NOUN
ajeer-236	401	21	are	be	AUX
ajeer-236	401	22	lagged	lag	VERB
ajeer-236	401	23	two	two	NUM
ajeer-236	401	24	periods	period	NOUN
ajeer-236	401	25	(	(	PUNCT
ajeer-236	401	26	table	table	NOUN
ajeer-236	401	27	12	12	NUM
ajeer-236	401	28	)	)	PUNCT
ajeer-236	401	29	.	.	PUNCT
ajeer-236	402	1	therefore	therefore	ADV
ajeer-236	402	2	,	,	PUNCT
ajeer-236	402	3	the	the	DET
ajeer-236	402	4	model	model	NOUN
ajeer-236	402	5	is	be	AUX
ajeer-236	402	6	tested	test	VERB
ajeer-236	402	7	with	with	ADP
ajeer-236	402	8	two	two	NUM
ajeer-236	402	9	lagging	lag	VERB
ajeer-236	402	10	periods	period	NOUN
ajeer-236	402	11	.	.	PUNCT
ajeer-236	403	1	this	this	DET
ajeer-236	403	2	study	study	NOUN
ajeer-236	403	3	also	also	ADV
ajeer-236	403	4	tests	test	VERB
ajeer-236	403	5	the	the	DET
ajeer-236	403	6	maximum	maximum	ADJ
ajeer-236	403	7	likelihood	likelihood	NOUN
ajeer-236	403	8	proposed	propose	VERB
ajeer-236	403	9	by	by	ADP
ajeer-236	403	10	johansen	johansen	PROPN
ajeer-236	403	11	and	and	CCONJ
ajeer-236	403	12	juselius	juselius	PROPN
ajeer-236	403	13	(	(	PUNCT
ajeer-236	403	14	1990	1990	NUM
ajeer-236	403	15	)	)	PUNCT
ajeer-236	403	16	to	to	PART
ajeer-236	403	17	examine	examine	VERB
ajeer-236	403	18	the	the	DET
ajeer-236	403	19	co	co	NOUN
ajeer-236	403	20	-	-	NOUN
ajeer-236	403	21	integration	integration	NOUN
ajeer-236	403	22	relationships	relationship	NOUN
ajeer-236	403	23	between	between	ADP
ajeer-236	403	24	multi	multi	NOUN
ajeer-236	403	25	-	-	NOUN
ajeer-236	403	26	variables	variable	NOUN
ajeer-236	403	27	.	.	PUNCT
ajeer-236	404	1	the	the	DET
ajeer-236	404	2	model	model	NOUN
ajeer-236	404	3	has	have	VERB
ajeer-236	404	4	five	five	NUM
ajeer-236	404	5	co	co	ADJ
ajeer-236	404	6	-	-	NOUN
ajeer-236	404	7	integration	integration	NOUN
ajeer-236	404	8	equations	equation	NOUN
ajeer-236	404	9	(	(	PUNCT
ajeer-236	404	10	table	table	NOUN
ajeer-236	404	11	13	13	NUM
ajeer-236	404	12	)	)	PUNCT
ajeer-236	404	13	.	.	PUNCT
ajeer-236	405	1	therefore	therefore	ADV
ajeer-236	405	2	,	,	PUNCT
ajeer-236	405	3	we	we	PRON
ajeer-236	405	4	can	can	AUX
ajeer-236	405	5	conduct	conduct	VERB
ajeer-236	405	6	the	the	DET
ajeer-236	405	7	granger	granger	PROPN
ajeer-236	405	8	causality	causality	PROPN
ajeer-236	405	9	test	test	NOUN
ajeer-236	405	10	.	.	PUNCT
ajeer-236	406	1	table-12	table-12	NOUN
ajeer-236	406	2	.	.	PROPN
ajeer-236	406	3	lag	lag	PROPN
ajeer-236	406	4	period	period	NOUN
ajeer-236	406	5	estimation	estimation	NOUN
ajeer-236	406	6	of	of	ADP
ajeer-236	406	7	far	far	ADV
ajeer-236	406	8	eastern	eastern	ADJ
ajeer-236	406	9	group‟s	group‟s	X
ajeer-236	406	10	var	var	NOUN
ajeer-236	406	11	model	model	PROPN
ajeer-236	406	12	lag	lag	NOUN
ajeer-236	406	13	logl	logl	PROPN
ajeer-236	406	14	lr	lr	PROPN
ajeer-236	406	15	fpe	fpe	PROPN
ajeer-236	406	16	aic	aic	PROPN
ajeer-236	406	17	sc	sc	PROPN
ajeer-236	406	18	hq	hq	NOUN
ajeer-236	406	19	0	0	NUM
ajeer-236	407	1	-40212.81	-40212.81	NOUN
ajeer-236	407	2	na	na	ADP
ajeer-236	407	3	2399.206	2399.206	NUM
ajeer-236	407	4	33.32379	33.32379	NUM
ajeer-236	407	5	33.34537	33.34537	NUM
ajeer-236	407	6	33.33164	33.33164	NUM
ajeer-236	407	7	1	1	NUM
ajeer-236	407	8	-16202.17	-16202.17	PROPN
ajeer-236	407	9	47822.35	47822.35	NUM
ajeer-236	407	10	5.89e-06	5.89e-06	NUM
ajeer-236	407	11	13.49807	13.49807	NUM
ajeer-236	407	12	13.71390	13.71390	NUM
ajeer-236	407	13	*	*	NOUN
ajeer-236	407	14	13.57657	13.57657	NUM
ajeer-236	407	15	*	*	SYM
ajeer-236	407	16	2	2	NUM
ajeer-236	407	17	-16048.74	-16048.74	NUM
ajeer-236	407	18	304.4466	304.4466	NUM
ajeer-236	407	19	5.54e-06	5.54e-06	NUM
ajeer-236	407	20	*	*	SYM
ajeer-236	407	21	13.43806	13.43806	NUM
ajeer-236	407	22	*	*	SYM
ajeer-236	407	23	13.84814	13.84814	NUM
ajeer-236	407	24	13.5872	13.5872	NUM
ajeer-236	407	25	8	8	NUM
ajeer-236	407	26	-15648.49	-15648.49	NUM
ajeer-236	407	27	141.4467	141.4467	NUM
ajeer-236	407	28	*	*	NOUN
ajeer-236	407	29	5.95e-06	5.95e-06	NUM
ajeer-236	407	30	13.50911	13.50911	NUM
ajeer-236	407	31	15.08466	15.08466	NUM
ajeer-236	407	32	14.08213	14.08213	NUM
ajeer-236	407	33	table-13	table-13	PROPN
ajeer-236	407	34	.	.	PUNCT
ajeer-236	408	1	johansen	johansen	PROPN
ajeer-236	408	2	co	co	PROPN
ajeer-236	408	3	-	-	NOUN
ajeer-236	408	4	integration	integration	NOUN
ajeer-236	408	5	test	test	NOUN
ajeer-236	408	6	results	result	NOUN
ajeer-236	408	7	trace	trace	VERB
ajeer-236	408	8	max	max	PROPN
ajeer-236	408	9	-	-	PUNCT
ajeer-236	408	10	eigen	eigen	PROPN
ajeer-236	408	11	no	no	PROPN
ajeer-236	408	12	.	.	PROPN
ajeer-236	409	1	of	of	ADP
ajeer-236	409	2	ce(s	ce(s	ADV
ajeer-236	409	3	)	)	PUNCT
ajeer-236	409	4	eigenvalue	eigenvalue	NOUN
ajeer-236	409	5	statistic	statistic	ADJ
ajeer-236	409	6	critical	critical	ADJ
ajeer-236	409	7	value(0.05	value(0.05	NOUN
ajeer-236	409	8	)	)	PUNCT
ajeer-236	409	9	prob	prob	NOUN
ajeer-236	409	10	.	.	PUNCT
ajeer-236	410	1	statistic	statistic	ADJ
ajeer-236	410	2	critical	critical	ADJ
ajeer-236	410	3	value(0.05	value(0.05	NOUN
ajeer-236	410	4	)	)	PUNCT
ajeer-236	410	5	prob	prob	NOUN
ajeer-236	410	6	.	.	PUNCT
ajeer-236	411	1	none	none	NOUN
ajeer-236	411	2	*	*	PUNCT
ajeer-236	411	3	0.4489	0.4489	NUM
ajeer-236	411	4	5824.35	5824.35	NUM
ajeer-236	411	5	179.51	179.51	NUM
ajeer-236	411	6	0	0	NUM
ajeer-236	411	7	1442.06	1442.06	NUM
ajeer-236	411	8	54.97	54.97	NUM
ajeer-236	411	9	1.00	1.00	NUM
ajeer-236	411	10	at	at	ADP
ajeer-236	411	11	most	most	ADJ
ajeer-236	412	1	1	1	NUM
ajeer-236	412	2	*	*	SYM
ajeer-236	412	3	0.3966	0.3966	NUM
ajeer-236	412	4	4382.29	4382.29	NUM
ajeer-236	412	5	143.67	143.67	NUM
ajeer-236	412	6	0	0	NUM
ajeer-236	412	7	1222.33	1222.33	NUM
ajeer-236	412	8	48.88	48.88	NUM
ajeer-236	412	9	1.00	1.00	NUM
ajeer-236	412	10	at	at	ADP
ajeer-236	412	11	most	most	ADJ
ajeer-236	412	12	2	2	NUM
ajeer-236	412	13	*	*	PUNCT
ajeer-236	412	14	0.3769	0.3769	NUM
ajeer-236	412	15	3159.96	3159.96	NUM
ajeer-236	412	16	111.78	111.78	NUM
ajeer-236	412	17	1	1	NUM
ajeer-236	412	18	1144.92	1144.92	NUM
ajeer-236	412	19	42.77	42.77	NUM
ajeer-236	412	20	1.00	1.00	NUM
ajeer-236	412	21	at	at	ADP
ajeer-236	412	22	most	most	ADJ
ajeer-236	412	23	3	3	NUM
ajeer-236	412	24	*	*	SYM
ajeer-236	412	25	0.3561	0.3561	NUM
ajeer-236	412	26	2015.04	2015.04	NUM
ajeer-236	412	27	83.94	83.94	NUM
ajeer-236	412	28	1	1	NUM
ajeer-236	412	29	1065.23	1065.23	NUM
ajeer-236	412	30	36.63	36.63	NUM
ajeer-236	412	31	1.00	1.00	NUM
ajeer-236	412	32	at	at	ADP
ajeer-236	412	33	most	most	ADJ
ajeer-236	412	34	4	4	NUM
ajeer-236	412	35	*	*	SYM
ajeer-236	412	36	0.3151	0.3151	NUM
ajeer-236	413	1	949.81	949.81	NUM
ajeer-236	413	2	60.06	60.06	NUM
ajeer-236	413	3	0.0001	0.0001	NUM
ajeer-236	413	4	915.82	915.82	NUM
ajeer-236	413	5	30.44	30.44	NUM
ajeer-236	413	6	0.00	0.00	NUM
ajeer-236	413	7	at	at	ADP
ajeer-236	413	8	most	most	ADJ
ajeer-236	413	9	5	5	NUM
ajeer-236	413	10	0.0087	0.0087	NUM
ajeer-236	413	11	33.98	33.98	NUM
ajeer-236	413	12	40.17	40.17	NUM
ajeer-236	413	13	0.1826	0.1826	NUM
ajeer-236	413	14	21.20	21.20	NUM
ajeer-236	413	15	24.16	24.16	NUM
ajeer-236	413	16	0.12	0.12	NUM
ajeer-236	413	17	note	note	NOUN
ajeer-236	413	18	:	:	PUNCT
ajeer-236	413	19	*	*	PUNCT
ajeer-236	413	20	means	mean	VERB
ajeer-236	413	21	below	below	ADP
ajeer-236	413	22	the	the	DET
ajeer-236	413	23	5	5	NUM
ajeer-236	413	24	%	%	NOUN
ajeer-236	413	25	level	level	NOUN
ajeer-236	413	26	and	and	CCONJ
ajeer-236	413	27	rejects	reject	VERB
ajeer-236	413	28	h0	h0	PROPN
ajeer-236	413	29	.	.	PUNCT
ajeer-236	414	1	6.1.3	6.1.3	NUM
ajeer-236	414	2	.	.	PUNCT
ajeer-236	415	1	granger	granger	PROPN
ajeer-236	415	2	causality	causality	PROPN
ajeer-236	415	3	test	test	NOUN
ajeer-236	415	4	of	of	ADP
ajeer-236	415	5	the	the	DET
ajeer-236	415	6	far	far	ADV
ajeer-236	415	7	eastern	eastern	ADJ
ajeer-236	415	8	group	group	NOUN
ajeer-236	415	9	in	in	ADP
ajeer-236	415	10	order	order	NOUN
ajeer-236	415	11	to	to	PART
ajeer-236	415	12	examine	examine	VERB
ajeer-236	415	13	the	the	DET
ajeer-236	415	14	investment	investment	NOUN
ajeer-236	415	15	behavior	behavior	NOUN
ajeer-236	415	16	of	of	ADP
ajeer-236	415	17	far	far	ADJ
ajeer-236	415	18	eastern	eastern	ADJ
ajeer-236	415	19	group	group	NOUN
ajeer-236	415	20	,	,	PUNCT
ajeer-236	415	21	we	we	PRON
ajeer-236	415	22	include	include	VERB
ajeer-236	415	23	the	the	DET
ajeer-236	415	24	trading	trading	NOUN
ajeer-236	415	25	information	information	NOUN
ajeer-236	415	26	of	of	ADP
ajeer-236	415	27	eight	eight	NUM
ajeer-236	415	28	companies	company	NOUN
ajeer-236	415	29	and	and	CCONJ
ajeer-236	415	30	taiwan	taiwan	PROPN
ajeer-236	415	31	50	50	NUM
ajeer-236	415	32	etf	etf	NOUN
ajeer-236	415	33	in	in	ADP
ajeer-236	415	34	the	the	DET
ajeer-236	415	35	var	var	NOUN
ajeer-236	415	36	model	model	NOUN
ajeer-236	415	37	and	and	CCONJ
ajeer-236	415	38	conduct	conduct	VERB
ajeer-236	415	39	granger	granger	PROPN
ajeer-236	415	40	causality	causality	PROPN
ajeer-236	415	41	test	test	NOUN
ajeer-236	415	42	.	.	PUNCT
ajeer-236	416	1	the	the	DET
ajeer-236	416	2	results	result	NOUN
ajeer-236	416	3	show	show	VERB
ajeer-236	416	4	that	that	SCONJ
ajeer-236	416	5	when	when	SCONJ
ajeer-236	416	6	lagging	lag	VERB
ajeer-236	416	7	two	two	NUM
ajeer-236	416	8	periods	period	NOUN
ajeer-236	416	9	,	,	PUNCT
ajeer-236	416	10	u	u	NOUN
ajeer-236	416	11	-	-	ADJ
ajeer-236	416	12	ming	ming	ADJ
ajeer-236	416	13	marine	marine	PROPN
ajeer-236	416	14	(	(	PUNCT
ajeer-236	416	15	2606	2606	NUM
ajeer-236	416	16	)	)	PUNCT
ajeer-236	416	17	(	(	PUNCT
ajeer-236	416	18	5times	5times	NUM
ajeer-236	416	19	)	)	PUNCT
ajeer-236	416	20	,	,	PUNCT
ajeer-236	416	21	taiwan	taiwan	PROPN
ajeer-236	416	22	50	50	NUM
ajeer-236	416	23	etf	etf	NOUN
ajeer-236	416	24	and	and	CCONJ
ajeer-236	416	25	far	far	ADV
ajeer-236	416	26	eastern	eastern	ADJ
ajeer-236	416	27	department	department	NOUN
ajeer-236	416	28	stores	store	NOUN
ajeer-236	416	29	(	(	PUNCT
ajeer-236	416	30	2903	2903	NUM
ajeer-236	416	31	)	)	PUNCT
ajeer-236	416	32	(	(	PUNCT
ajeer-236	416	33	4times	4time	NOUN
ajeer-236	416	34	)	)	PUNCT
ajeer-236	416	35	have	have	VERB
ajeer-236	416	36	the	the	DET
ajeer-236	416	37	highest	high	ADJ
ajeer-236	416	38	and	and	CCONJ
ajeer-236	416	39	second	second	ADJ
ajeer-236	416	40	highest	high	ADJ
ajeer-236	416	41	number	number	NOUN
ajeer-236	416	42	of	of	ADP
ajeer-236	416	43	granger	granger	PROPN
ajeer-236	416	44	causes	cause	NOUN
ajeer-236	416	45	.	.	PUNCT
ajeer-236	417	1	in	in	ADP
ajeer-236	417	2	other	other	ADJ
ajeer-236	417	3	words	word	NOUN
ajeer-236	417	4	,	,	PUNCT
ajeer-236	417	5	the	the	DET
ajeer-236	417	6	investment	investment	NOUN
ajeer-236	417	7	behavior	behavior	NOUN
ajeer-236	417	8	of	of	ADP
ajeer-236	417	9	the	the	DET
ajeer-236	417	10	other	other	ADJ
ajeer-236	417	11	eight	eight	NUM
ajeer-236	417	12	companies	company	NOUN
ajeer-236	417	13	of	of	ADP
ajeer-236	417	14	the	the	DET
ajeer-236	417	15	far	far	ADV
ajeer-236	417	16	eastern	eastern	ADJ
ajeer-236	417	17	group	group	NOUN
ajeer-236	417	18	all	all	ADV
ajeer-236	417	19	refuse	refuse	VERB
ajeer-236	417	20	to	to	PART
ajeer-236	417	21	reject	reject	VERB
ajeer-236	417	22	the	the	DET
ajeer-236	417	23	data	datum	NOUN
ajeer-236	417	24	of	of	ADP
ajeer-236	417	25	taiwan	taiwan	PROPN
ajeer-236	417	26	50	50	NUM
ajeer-236	417	27	etf	etf	NOUN
ajeer-236	417	28	and	and	CCONJ
ajeer-236	417	29	u	u	NOUN
ajeer-236	417	30	-	-	PROPN
ajeer-236	417	31	ming	ming	ADJ
ajeer-236	417	32	marine	marine	PROPN
ajeer-236	417	33	.	.	PUNCT
ajeer-236	418	1	that	that	PRON
ajeer-236	418	2	is	be	AUX
ajeer-236	418	3	,	,	PUNCT
ajeer-236	418	4	they	they	PRON
ajeer-236	418	5	are	be	AUX
ajeer-236	418	6	treated	treat	VERB
ajeer-236	418	7	as	as	ADP
ajeer-236	418	8	endogeneous	endogeneous	ADJ
ajeer-236	418	9	variables	variable	NOUN
ajeer-236	418	10	(	(	PUNCT
ajeer-236	418	11	table	table	NOUN
ajeer-236	418	12	14	14	NUM
ajeer-236	418	13	)	)	PUNCT
ajeer-236	418	14	.	.	PUNCT
ajeer-236	419	1	therefore	therefore	ADV
ajeer-236	419	2	,	,	PUNCT
ajeer-236	419	3	the	the	DET
ajeer-236	419	4	data	datum	NOUN
ajeer-236	419	5	of	of	ADP
ajeer-236	419	6	taiwan	taiwan	PROPN
ajeer-236	419	7	50	50	NUM
ajeer-236	419	8	etf	etf	NOUN
ajeer-236	419	9	and	and	CCONJ
ajeer-236	419	10	u	u	NOUN
ajeer-236	419	11	-	-	ADJ
ajeer-236	419	12	ming	ming	ADJ
ajeer-236	419	13	marine	marine	PROPN
ajeer-236	419	14	are	be	AUX
ajeer-236	419	15	the	the	DET
ajeer-236	419	16	granger	granger	PROPN
ajeer-236	419	17	cause	cause	NOUN
ajeer-236	419	18	of	of	ADP
ajeer-236	419	19	other	other	ADJ
ajeer-236	419	20	companies	company	NOUN
ajeer-236	419	21	and	and	CCONJ
ajeer-236	419	22	cause	cause	VERB
ajeer-236	419	23	herding	herd	VERB
ajeer-236	419	24	trading	trading	NOUN
ajeer-236	419	25	behavior	behavior	NOUN
ajeer-236	419	26	in	in	ADP
ajeer-236	419	27	other	other	ADJ
ajeer-236	419	28	companies	company	NOUN
ajeer-236	419	29	.	.	PUNCT
ajeer-236	420	1	6.2	6.2	NUM
ajeer-236	420	2	.	.	PUNCT
ajeer-236	421	1	granger	granger	PROPN
ajeer-236	421	2	causality	causality	PROPN
ajeer-236	421	3	test	test	NOUN
ajeer-236	421	4	of	of	ADP
ajeer-236	421	5	asia	asia	PROPN
ajeer-236	421	6	cement	cement	PROPN
ajeer-236	421	7	,	,	PUNCT
ajeer-236	421	8	taiwan	taiwan	PROPN
ajeer-236	421	9	50	50	NUM
ajeer-236	421	10	etf	etf	NOUN
ajeer-236	421	11	,	,	PUNCT
ajeer-236	421	12	and	and	CCONJ
ajeer-236	421	13	u	u	NOUN
ajeer-236	421	14	-	-	ADJ
ajeer-236	421	15	ming	ming	ADJ
ajeer-236	421	16	marine	marine	PROPN
ajeer-236	421	17	6.2.1	6.2.1	NOUN
ajeer-236	421	18	.	.	PUNCT
ajeer-236	422	1	lag	lag	NOUN
ajeer-236	422	2	period	period	NOUN
ajeer-236	422	3	test	test	NOUN
ajeer-236	422	4	in	in	ADP
ajeer-236	422	5	this	this	DET
ajeer-236	422	6	section	section	NOUN
ajeer-236	422	7	,	,	PUNCT
ajeer-236	422	8	we	we	PRON
ajeer-236	422	9	use	use	VERB
ajeer-236	422	10	asia	asia	PROPN
ajeer-236	422	11	cement	cement	NOUN
ajeer-236	422	12	,	,	PUNCT
ajeer-236	422	13	taiwan	taiwan	PROPN
ajeer-236	422	14	50	50	NUM
ajeer-236	422	15	etf	etf	NOUN
ajeer-236	422	16	and	and	CCONJ
ajeer-236	422	17	u	u	NOUN
ajeer-236	422	18	-	-	ADJ
ajeer-236	422	19	ming	ming	ADJ
ajeer-236	422	20	marine	marine	PROPN
ajeer-236	422	21	as	as	SCONJ
ajeer-236	422	22	examples	example	NOUN
ajeer-236	422	23	to	to	PART
ajeer-236	422	24	carry	carry	VERB
ajeer-236	422	25	out	out	ADP
ajeer-236	422	26	the	the	DET
ajeer-236	422	27	var	var	PROPN
ajeer-236	422	28	model	model	PROPN
ajeer-236	422	29	estimation	estimation	PROPN
ajeer-236	422	30	.	.	PUNCT
ajeer-236	423	1	we	we	PRON
ajeer-236	423	2	need	need	VERB
ajeer-236	423	3	to	to	PART
ajeer-236	423	4	first	first	ADV
ajeer-236	423	5	test	test	VERB
ajeer-236	423	6	the	the	DET
ajeer-236	423	7	lagging	lag	VERB
ajeer-236	423	8	periods	period	NOUN
ajeer-236	423	9	.	.	PUNCT
ajeer-236	424	1	the	the	DET
ajeer-236	424	2	results	result	NOUN
ajeer-236	424	3	show	show	VERB
ajeer-236	424	4	that	that	SCONJ
ajeer-236	424	5	the	the	DET
ajeer-236	424	6	aic	aic	PROPN
ajeer-236	424	7	,	,	PUNCT
ajeer-236	424	8	fpe	fpe	PROPN
ajeer-236	424	9	and	and	CCONJ
ajeer-236	424	10	lr	lr	PROPN
ajeer-236	424	11	of	of	ADP
ajeer-236	424	12	asia	asia	PROPN
ajeer-236	424	13	cement	cement	PROPN
ajeer-236	424	14	,	,	PUNCT
ajeer-236	424	15	taiwan	taiwan	PROPN
ajeer-236	424	16	50	50	NUM
ajeer-236	424	17	etf	etf	NOUN
ajeer-236	424	18	and	and	CCONJ
ajeer-236	424	19	u	u	NOUN
ajeer-236	424	20	-	-	ADJ
ajeer-236	424	21	ming	ming	ADJ
ajeer-236	424	22	marine	marine	PROPN
ajeer-236	424	23	are	be	AUX
ajeer-236	424	24	at	at	ADP
ajeer-236	424	25	their	their	PRON
ajeer-236	424	26	minimum	minimum	NOUN
ajeer-236	424	27	when	when	SCONJ
ajeer-236	424	28	lagging	lag	VERB
ajeer-236	424	29	10	10	NUM
ajeer-236	424	30	periods	period	NOUN
ajeer-236	424	31	(	(	PUNCT
ajeer-236	424	32	table	table	NOUN
ajeer-236	424	33	15	15	NUM
ajeer-236	424	34	)	)	PUNCT
ajeer-236	424	35	.	.	PUNCT
ajeer-236	425	1	therefore	therefore	ADV
ajeer-236	425	2	,	,	PUNCT
ajeer-236	425	3	this	this	DET
ajeer-236	425	4	model	model	NOUN
ajeer-236	425	5	is	be	AUX
ajeer-236	425	6	estimated	estimate	VERB
ajeer-236	425	7	using	use	VERB
ajeer-236	425	8	a	a	DET
ajeer-236	425	9	lag	lag	NOUN
ajeer-236	425	10	period	period	NOUN
ajeer-236	425	11	of	of	ADP
ajeer-236	425	12	10	10	NUM
ajeer-236	425	13	.	.	PUNCT
ajeer-236	426	1	also	also	ADV
ajeer-236	426	2	,	,	PUNCT
ajeer-236	426	3	based	base	VERB
ajeer-236	426	4	the	the	DET
ajeer-236	426	5	maximum	maximum	ADJ
ajeer-236	426	6	likelihood	likelihood	NOUN
ajeer-236	426	7	estimation	estimation	NOUN
ajeer-236	426	8	proposed	propose	VERB
ajeer-236	426	9	by	by	ADP
ajeer-236	426	10	johansen	johansen	PROPN
ajeer-236	426	11	and	and	CCONJ
ajeer-236	426	12	juselius	juselius	PROPN
ajeer-236	426	13	(	(	PUNCT
ajeer-236	426	14	1990	1990	NUM
ajeer-236	426	15	)	)	PUNCT
ajeer-236	426	16	we	we	PRON
ajeer-236	426	17	test	test	VERB
ajeer-236	426	18	the	the	DET
ajeer-236	426	19	co	co	NOUN
ajeer-236	426	20	-	-	NOUN
ajeer-236	426	21	integration	integration	NOUN
ajeer-236	426	22	relationship	relationship	NOUN
ajeer-236	426	23	between	between	ADP
ajeer-236	426	24	multi	multi	NOUN
ajeer-236	426	25	-	-	NOUN
ajeer-236	426	26	variables	variable	NOUN
ajeer-236	426	27	.	.	PUNCT
ajeer-236	427	1	the	the	DET
ajeer-236	427	2	model	model	NOUN
ajeer-236	427	3	has	have	VERB
ajeer-236	427	4	one	one	NUM
ajeer-236	427	5	co	co	ADJ
ajeer-236	427	6	-	-	ADJ
ajeer-236	427	7	integrated	integrated	ADJ
ajeer-236	427	8	equations	equation	NOUN
ajeer-236	427	9	(	(	PUNCT
ajeer-236	427	10	table	table	NOUN
ajeer-236	427	11	16	16	NUM
ajeer-236	427	12	)	)	PUNCT
ajeer-236	427	13	.	.	PUNCT
ajeer-236	428	1	asian	asian	ADJ
ajeer-236	428	2	journal	journal	PROPN
ajeer-236	428	3	of	of	ADP
ajeer-236	428	4	economics	economic	NOUN
ajeer-236	428	5	and	and	CCONJ
ajeer-236	428	6	empirical	empirical	ADJ
ajeer-236	428	7	research	research	NOUN
ajeer-236	428	8	,	,	PUNCT
ajeer-236	428	9	2017	2017	NUM
ajeer-236	428	10	,	,	PUNCT
ajeer-236	428	11	4(2	4(2	NUM
ajeer-236	428	12	):	):	PUNCT
ajeer-236	428	13	106	106	NUM
ajeer-236	428	14	-	-	SYM
ajeer-236	428	15	120	120	NUM
ajeer-236	428	16	116	116	NUM
ajeer-236	428	17	table-14	table-14	PROPN
ajeer-236	428	18	.	.	PUNCT
ajeer-236	429	1	granger	granger	PROPN
ajeer-236	429	2	causality	causality	PROPN
ajeer-236	429	3	test	test	NOUN
ajeer-236	429	4	of	of	ADP
ajeer-236	429	5	far	far	ADJ
ajeer-236	429	6	eastern	eastern	ADJ
ajeer-236	429	7	group	group	NOUN
ajeer-236	429	8	dependent	dependent	ADJ
ajeer-236	429	9	variable	variable	NOUN
ajeer-236	429	10	:	:	PUNCT
ajeer-236	429	11	p2606	p2606	VERB
ajeer-236	429	12	dependent	dependent	ADJ
ajeer-236	429	13	variable	variable	NOUN
ajeer-236	429	14	:	:	PUNCT
ajeer-236	429	15	d(p1402	d(p1402	NOUN
ajeer-236	429	16	)	)	PUNCT
ajeer-236	429	17	dependent	dependent	ADJ
ajeer-236	429	18	variable	variable	NOUN
ajeer-236	429	19	:	:	PUNCT
ajeer-236	429	20	d(p2903	d(p2903	ADV
ajeer-236	429	21	)	)	PUNCT
ajeer-236	429	22	excluded	exclude	VERB
ajeer-236	429	23	chi	chi	ADJ
ajeer-236	429	24	-	-	PUNCT
ajeer-236	429	25	sq	sq	ADJ
ajeer-236	429	26	prob	prob	PROPN
ajeer-236	429	27	.	.	PUNCT
ajeer-236	430	1	excluded	exclude	VERB
ajeer-236	430	2	chi	chi	ADJ
ajeer-236	430	3	-	-	PUNCT
ajeer-236	430	4	sq	sq	ADJ
ajeer-236	430	5	prob	prob	PROPN
ajeer-236	430	6	.	.	PUNCT
ajeer-236	431	1	excluded	exclude	VERB
ajeer-236	431	2	chi	chi	ADJ
ajeer-236	431	3	-	-	PUNCT
ajeer-236	431	4	sq	sq	ADJ
ajeer-236	431	5	prob	prob	NOUN
ajeer-236	431	6	.	.	PUNCT
ajeer-236	432	1	p1102	p1102	VERB
ajeer-236	432	2	4.55	4.55	NUM
ajeer-236	432	3	0.10	0.10	NUM
ajeer-236	432	4	p2606	p2606	NUM
ajeer-236	432	5	4.77	4.77	NUM
ajeer-236	432	6	0.09	0.09	NUM
ajeer-236	432	7	p2606	p2606	NUM
ajeer-236	432	8	17.28	17.28	NUM
ajeer-236	432	9	0.00	0.00	NUM
ajeer-236	432	10	p1460	p1460	NUM
ajeer-236	432	11	2.22	2.22	NUM
ajeer-236	432	12	0.33	0.33	NUM
ajeer-236	432	13	p1102	p1102	NOUN
ajeer-236	432	14	0.76	0.76	NUM
ajeer-236	432	15	0.68	0.68	NUM
ajeer-236	432	16	p1102	p1102	PROPN
ajeer-236	432	17	13.08	13.08	NUM
ajeer-236	432	18	0.00	0.00	NUM
ajeer-236	432	19	p50	p50	NOUN
ajeer-236	432	20	7.59	7.59	NUM
ajeer-236	432	21	0.02	0.02	NUM
ajeer-236	432	22	p1460	p1460	NOUN
ajeer-236	432	23	2.85	2.85	NUM
ajeer-236	432	24	0.24	0.24	NUM
ajeer-236	432	25	p1460	p1460	NUM
ajeer-236	432	26	0.76	0.76	NUM
ajeer-236	432	27	0.69	0.69	NUM
ajeer-236	432	28	d(p1402	d(p1402	NOUN
ajeer-236	432	29	)	)	PUNCT
ajeer-236	432	30	4.10	4.10	NUM
ajeer-236	432	31	0.13	0.13	NUM
ajeer-236	432	32	p50	p50	NOUN
ajeer-236	432	33	9.67	9.67	NUM
ajeer-236	432	34	0.01	0.01	NUM
ajeer-236	432	35	p50	p50	NOUN
ajeer-236	432	36	3.41	3.41	NUM
ajeer-236	432	37	0.18	0.18	NUM
ajeer-236	432	38	d(p1710	d(p1710	ADJ
ajeer-236	432	39	)	)	PUNCT
ajeer-236	432	40	0.67	0.67	NUM
ajeer-236	432	41	0.71	0.71	NUM
ajeer-236	432	42	d(p1710	d(p1710	NOUN
ajeer-236	432	43	)	)	PUNCT
ajeer-236	432	44	2.94	2.94	NUM
ajeer-236	432	45	0.23	0.23	NUM
ajeer-236	432	46	d(p1402	d(p1402	NOUN
ajeer-236	432	47	)	)	PUNCT
ajeer-236	432	48	34.79	34.79	NUM
ajeer-236	432	49	0.00	0.00	NUM
ajeer-236	432	50	d(p2845	d(p2845	ADJ
ajeer-236	432	51	)	)	PUNCT
ajeer-236	432	52	8.11	8.11	NUM
ajeer-236	432	53	0.02	0.02	NUM
ajeer-236	432	54	d(p2845	d(p2845	NOUN
ajeer-236	432	55	)	)	PUNCT
ajeer-236	432	56	2.42	2.42	NUM
ajeer-236	432	57	0.30	0.30	NUM
ajeer-236	432	58	d(p1710	d(p1710	ADJ
ajeer-236	432	59	)	)	PUNCT
ajeer-236	432	60	0.17	0.17	NUM
ajeer-236	432	61	0.92	0.92	NUM
ajeer-236	432	62	d(p2903	d(p2903	NOUN
ajeer-236	432	63	)	)	PUNCT
ajeer-236	432	64	3.11	3.11	NUM
ajeer-236	432	65	0.21	0.21	NUM
ajeer-236	432	66	d(p2903	d(p2903	NOUN
ajeer-236	432	67	)	)	PUNCT
ajeer-236	432	68	28.97	28.97	NUM
ajeer-236	432	69	0.00	0.00	NUM
ajeer-236	432	70	d(p2845	d(p2845	ADJ
ajeer-236	432	71	)	)	PUNCT
ajeer-236	432	72	1.82	1.82	NUM
ajeer-236	432	73	0.40	0.40	NUM
ajeer-236	432	74	d(p4904	d(p4904	ADJ
ajeer-236	432	75	)	)	PUNCT
ajeer-236	432	76	1.36	1.36	NUM
ajeer-236	432	77	0.51	0.51	NUM
ajeer-236	432	78	d(p4904	d(p4904	ADJ
ajeer-236	432	79	)	)	PUNCT
ajeer-236	432	80	6.50	6.50	NUM
ajeer-236	432	81	0.04	0.04	NUM
ajeer-236	432	82	d(p4904	d(p4904	ADJ
ajeer-236	432	83	)	)	PUNCT
ajeer-236	432	84	3.35	3.35	NUM
ajeer-236	432	85	0.19	0.19	NUM
ajeer-236	432	86	all	all	DET
ajeer-236	432	87	32.28	32.28	NUM
ajeer-236	432	88	0.01	0.01	NUM
ajeer-236	432	89	all	all	PRON
ajeer-236	432	90	64.06	64.06	NUM
ajeer-236	432	91	0.00	0.00	NUM
ajeer-236	432	92	all	all	DET
ajeer-236	432	93	206.51	206.51	NUM
ajeer-236	432	94	0.00	0.00	NUM
ajeer-236	432	95	dependent	dependent	ADJ
ajeer-236	432	96	variable	variable	NOUN
ajeer-236	432	97	:	:	PUNCT
ajeer-236	432	98	p1102	p1102	NOUN
ajeer-236	432	99	dependent	dependent	ADJ
ajeer-236	432	100	variable	variable	NOUN
ajeer-236	432	101	:	:	PUNCT
ajeer-236	432	102	d(p1710	d(p1710	ADJ
ajeer-236	432	103	)	)	PUNCT
ajeer-236	432	104	dependent	dependent	ADJ
ajeer-236	432	105	variable	variable	NOUN
ajeer-236	432	106	:	:	PUNCT
ajeer-236	432	107	d(p4904	d(p4904	VERB
ajeer-236	432	108	)	)	PUNCT
ajeer-236	432	109	excluded	exclude	VERB
ajeer-236	432	110	chi	chi	ADJ
ajeer-236	432	111	-	-	PUNCT
ajeer-236	432	112	sq	sq	ADJ
ajeer-236	432	113	prob	prob	PROPN
ajeer-236	432	114	.	.	PUNCT
ajeer-236	433	1	excluded	exclude	VERB
ajeer-236	433	2	chi	chi	ADJ
ajeer-236	433	3	-	-	PUNCT
ajeer-236	433	4	sq	sq	ADJ
ajeer-236	433	5	prob	prob	PROPN
ajeer-236	433	6	.	.	PUNCT
ajeer-236	434	1	excluded	exclude	VERB
ajeer-236	434	2	chi	chi	ADJ
ajeer-236	434	3	-	-	PUNCT
ajeer-236	434	4	sq	sq	ADJ
ajeer-236	434	5	prob	prob	NOUN
ajeer-236	434	6	.	.	PUNCT
ajeer-236	435	1	p2606	p2606	VERB
ajeer-236	435	2	37.31	37.31	NUM
ajeer-236	435	3	0.00	0.00	NUM
ajeer-236	435	4	p2606	p2606	NUM
ajeer-236	435	5	15.54	15.54	NUM
ajeer-236	435	6	0.00	0.00	NUM
ajeer-236	435	7	p2606	p2606	VERB
ajeer-236	435	8	0.30	0.30	NUM
ajeer-236	435	9	0.86	0.86	NUM
ajeer-236	435	10	p1460	p1460	NUM
ajeer-236	435	11	1.20	1.20	NUM
ajeer-236	435	12	0.55	0.55	NUM
ajeer-236	435	13	p1102	p1102	NOUN
ajeer-236	435	14	2.08	2.08	NUM
ajeer-236	435	15	0.35	0.35	NUM
ajeer-236	435	16	p1102	p1102	NOUN
ajeer-236	435	17	1.30	1.30	NUM
ajeer-236	435	18	0.52	0.52	NUM
ajeer-236	435	19	p50	p50	NOUN
ajeer-236	435	20	1.79	1.79	NUM
ajeer-236	435	21	0.41	0.41	NUM
ajeer-236	435	22	p1460	p1460	NUM
ajeer-236	435	23	1.27	1.27	NUM
ajeer-236	435	24	0.53	0.53	NUM
ajeer-236	435	25	p1460	p1460	NOUN
ajeer-236	435	26	1.24	1.24	NUM
ajeer-236	435	27	0.54	0.54	NUM
ajeer-236	435	28	d(p1402	d(p1402	NOUN
ajeer-236	435	29	)	)	PUNCT
ajeer-236	435	30	27.23	27.23	NUM
ajeer-236	435	31	0.00	0.00	NUM
ajeer-236	435	32	p50	p50	NOUN
ajeer-236	435	33	3.83	3.83	NUM
ajeer-236	435	34	0.15	0.15	NUM
ajeer-236	435	35	p50	p50	NOUN
ajeer-236	435	36	3.98	3.98	NUM
ajeer-236	435	37	0.14	0.14	NUM
ajeer-236	435	38	d(p1710	d(p1710	ADJ
ajeer-236	435	39	)	)	PUNCT
ajeer-236	435	40	5.45	5.45	NUM
ajeer-236	435	41	0.07	0.07	NUM
ajeer-236	435	42	d(p1402	d(p1402	NOUN
ajeer-236	435	43	)	)	PUNCT
ajeer-236	435	44	0.14	0.14	NUM
ajeer-236	435	45	0.93	0.93	NUM
ajeer-236	435	46	d(p1402	d(p1402	NOUN
ajeer-236	435	47	)	)	PUNCT
ajeer-236	435	48	0.49	0.49	NUM
ajeer-236	435	49	0.78	0.78	NUM
ajeer-236	435	50	d(p2845	d(p2845	ADJ
ajeer-236	435	51	)	)	PUNCT
ajeer-236	435	52	1.37	1.37	NUM
ajeer-236	435	53	0.50	0.50	NUM
ajeer-236	435	54	d(p2845	d(p2845	NOUN
ajeer-236	435	55	)	)	PUNCT
ajeer-236	435	56	1.72	1.72	NUM
ajeer-236	435	57	0.42	0.42	NUM
ajeer-236	435	58	d(p1710	d(p1710	ADJ
ajeer-236	435	59	)	)	PUNCT
ajeer-236	435	60	0.14	0.14	NUM
ajeer-236	435	61	0.93	0.93	NUM
ajeer-236	435	62	d(p2903	d(p2903	NOUN
ajeer-236	435	63	)	)	PUNCT
ajeer-236	435	64	18.80	18.80	NUM
ajeer-236	435	65	0.00	0.00	NUM
ajeer-236	435	66	d(p2903	d(p2903	NOUN
ajeer-236	435	67	)	)	PUNCT
ajeer-236	435	68	2.64	2.64	NUM
ajeer-236	435	69	0.27	0.27	NUM
ajeer-236	435	70	d(p2845	d(p2845	NOUN
ajeer-236	435	71	)	)	PUNCT
ajeer-236	435	72	4.64	4.64	NUM
ajeer-236	435	73	0.10	0.10	NUM
ajeer-236	435	74	d(p4904	d(p4904	ADJ
ajeer-236	435	75	)	)	PUNCT
ajeer-236	435	76	2.07	2.07	NUM
ajeer-236	435	77	0.36	0.36	NUM
ajeer-236	435	78	d(p4904	d(p4904	ADJ
ajeer-236	435	79	)	)	PUNCT
ajeer-236	435	80	0.41	0.41	NUM
ajeer-236	435	81	0.81	0.81	NUM
ajeer-236	435	82	d(p2903	d(p2903	NOUN
ajeer-236	435	83	)	)	PUNCT
ajeer-236	435	84	0.32	0.32	NUM
ajeer-236	435	85	0.85	0.85	NUM
ajeer-236	435	86	all	all	PRON
ajeer-236	435	87	107.58	107.58	NUM
ajeer-236	435	88	0.00	0.00	NUM
ajeer-236	435	89	all	all	PRON
ajeer-236	435	90	45.11	45.11	NUM
ajeer-236	435	91	0.00	0.00	NUM
ajeer-236	435	92	all	all	DET
ajeer-236	435	93	20.74	20.74	NUM
ajeer-236	435	94	0.19	0.19	NUM
ajeer-236	435	95	dependent	dependent	ADJ
ajeer-236	435	96	variable	variable	NOUN
ajeer-236	435	97	:	:	PUNCT
ajeer-236	435	98	p1460	p1460	NUM
ajeer-236	435	99	dependent	dependent	ADJ
ajeer-236	435	100	variable	variable	NOUN
ajeer-236	435	101	:	:	PUNCT
ajeer-236	435	102	d(p2845	d(p2845	ADJ
ajeer-236	435	103	)	)	PUNCT
ajeer-236	435	104	dependent	dependent	ADJ
ajeer-236	435	105	variable	variable	NOUN
ajeer-236	435	106	:	:	PUNCT
ajeer-236	435	107	p50	p50	NOUN
ajeer-236	435	108	excluded	exclude	VERB
ajeer-236	435	109	chi	chi	ADJ
ajeer-236	435	110	-	-	PUNCT
ajeer-236	435	111	sq	sq	ADJ
ajeer-236	435	112	prob	prob	PROPN
ajeer-236	435	113	.	.	PUNCT
ajeer-236	436	1	excluded	exclude	VERB
ajeer-236	436	2	chi	chi	ADJ
ajeer-236	436	3	-	-	PUNCT
ajeer-236	436	4	sq	sq	ADJ
ajeer-236	436	5	prob	prob	PROPN
ajeer-236	436	6	.	.	PUNCT
ajeer-236	437	1	excluded	exclude	VERB
ajeer-236	437	2	chi	chi	ADJ
ajeer-236	437	3	-	-	PUNCT
ajeer-236	437	4	sq	sq	ADJ
ajeer-236	437	5	prob	prob	NOUN
ajeer-236	437	6	.	.	PUNCT
ajeer-236	438	1	p2606	p2606	VERB
ajeer-236	438	2	5.12	5.12	NUM
ajeer-236	438	3	0.08	0.08	NUM
ajeer-236	438	4	p2606	p2606	NUM
ajeer-236	438	5	2.30	2.30	NUM
ajeer-236	438	6	0.32	0.32	NUM
ajeer-236	438	7	p2606	p2606	NUM
ajeer-236	438	8	0.59	0.59	NUM
ajeer-236	438	9	0.74	0.74	NUM
ajeer-236	438	10	p1102	p1102	PROPN
ajeer-236	438	11	3.76	3.76	NUM
ajeer-236	438	12	0.15	0.15	NUM
ajeer-236	438	13	p1102	p1102	PROPN
ajeer-236	438	14	1.55	1.55	NUM
ajeer-236	438	15	0.46	0.46	NUM
ajeer-236	438	16	p1102	p1102	NOUN
ajeer-236	438	17	1.46	1.46	NUM
ajeer-236	438	18	0.48	0.48	NUM
ajeer-236	438	19	p50	p50	NOUN
ajeer-236	438	20	5.51	5.51	NUM
ajeer-236	438	21	0.06	0.06	NUM
ajeer-236	438	22	p1460	p1460	NUM
ajeer-236	438	23	0.31	0.31	NUM
ajeer-236	438	24	0.86	0.86	NUM
ajeer-236	438	25	p1460	p1460	NUM
ajeer-236	438	26	1.49	1.49	NUM
ajeer-236	438	27	0.47	0.47	NUM
ajeer-236	438	28	d(p1402	d(p1402	NOUN
ajeer-236	438	29	)	)	PUNCT
ajeer-236	438	30	0.97	0.97	NUM
ajeer-236	438	31	0.61	0.61	NUM
ajeer-236	438	32	p50	p50	NOUN
ajeer-236	438	33	6.43	6.43	NUM
ajeer-236	438	34	0.04	0.04	NUM
ajeer-236	438	35	d(p1402	d(p1402	NOUN
ajeer-236	438	36	)	)	PUNCT
ajeer-236	438	37	10.79	10.79	NUM
ajeer-236	438	38	0.00	0.00	NUM
ajeer-236	438	39	d(p1710	d(p1710	ADJ
ajeer-236	438	40	)	)	PUNCT
ajeer-236	438	41	1.50	1.50	NUM
ajeer-236	438	42	0.47	0.47	NUM
ajeer-236	438	43	d(p1402	d(p1402	NOUN
ajeer-236	438	44	)	)	PUNCT
ajeer-236	438	45	0.18	0.18	NUM
ajeer-236	438	46	0.91	0.91	NUM
ajeer-236	438	47	d(p1710	d(p1710	ADJ
ajeer-236	438	48	)	)	PUNCT
ajeer-236	438	49	5.87	5.87	NUM
ajeer-236	438	50	0.05	0.05	NUM
ajeer-236	438	51	d(p2845	d(p2845	ADJ
ajeer-236	438	52	)	)	PUNCT
ajeer-236	438	53	3.04	3.04	NUM
ajeer-236	438	54	0.22	0.22	NUM
ajeer-236	438	55	d(p1710	d(p1710	ADJ
ajeer-236	438	56	)	)	PUNCT
ajeer-236	438	57	4.14	4.14	NUM
ajeer-236	438	58	0.13	0.13	NUM
ajeer-236	438	59	d(p2845	d(p2845	ADJ
ajeer-236	438	60	)	)	PUNCT
ajeer-236	438	61	4.33	4.33	NUM
ajeer-236	438	62	0.12	0.12	NUM
ajeer-236	438	63	d(p2903	d(p2903	NOUN
ajeer-236	438	64	)	)	PUNCT
ajeer-236	438	65	2.06	2.06	NUM
ajeer-236	438	66	0.36	0.36	NUM
ajeer-236	438	67	d(p2903	d(p2903	NOUN
ajeer-236	438	68	)	)	PUNCT
ajeer-236	438	69	11.73	11.73	NUM
ajeer-236	438	70	0.00	0.00	NUM
ajeer-236	438	71	d(p2903	d(p2903	NOUN
ajeer-236	438	72	)	)	PUNCT
ajeer-236	438	73	7.91	7.91	NUM
ajeer-236	438	74	0.02	0.02	NUM
ajeer-236	438	75	d(p4904	d(p4904	ADJ
ajeer-236	438	76	)	)	PUNCT
ajeer-236	438	77	0.94	0.94	NUM
ajeer-236	438	78	0.62	0.62	NUM
ajeer-236	438	79	d(p4904	d(p4904	ADJ
ajeer-236	438	80	)	)	PUNCT
ajeer-236	438	81	0.80	0.80	NUM
ajeer-236	438	82	0.67	0.67	NUM
ajeer-236	438	83	d(p4904	d(p4904	ADJ
ajeer-236	438	84	)	)	PUNCT
ajeer-236	438	85	1.26	1.26	NUM
ajeer-236	438	86	0.53	0.53	NUM
ajeer-236	438	87	all	all	PRON
ajeer-236	438	88	26.89	26.89	NUM
ajeer-236	438	89	0.04	0.04	NUM
ajeer-236	438	90	all	all	PRON
ajeer-236	438	91	46.19	46.19	NUM
ajeer-236	438	92	0.00	0.00	NUM
ajeer-236	438	93	all	all	DET
ajeer-236	438	94	40.04	40.04	NUM
ajeer-236	438	95	0.00	0.00	NUM
ajeer-236	438	96	note	note	NOUN
ajeer-236	438	97	:	:	PUNCT
ajeer-236	438	98	prob	prob	PROPN
ajeer-236	438	99	.	.	PROPN
ajeer-236	438	100	means	mean	VERB
ajeer-236	438	101	probability	probability	NOUN
ajeer-236	438	102	.	.	PUNCT
ajeer-236	439	1	chi	chi	ADJ
ajeer-236	439	2	-	-	PUNCT
ajeer-236	439	3	sq	sq	PROPN
ajeer-236	439	4	is	be	AUX
ajeer-236	439	5	the	the	DET
ajeer-236	439	6	χ2	χ2	PROPN
ajeer-236	439	7	statistics	statistic	NOUN
ajeer-236	439	8	.	.	PUNCT
ajeer-236	440	1	sample	sample	NOUN
ajeer-236	440	2	code	code	PROPN
ajeer-236	440	3	is	be	AUX
ajeer-236	440	4	the	the	DET
ajeer-236	440	5	same	same	ADJ
ajeer-236	440	6	as	as	ADP
ajeer-236	440	7	table	table	NOUN
ajeer-236	440	8	1	1	NUM
ajeer-236	440	9	.	.	PUNCT
ajeer-236	441	1	d	d	NOUN
ajeer-236	441	2	means	mean	VERB
ajeer-236	441	3	taking	take	VERB
ajeer-236	441	4	the	the	DET
ajeer-236	441	5	first	first	ADJ
ajeer-236	441	6	difference	difference	NOUN
ajeer-236	441	7	.	.	PUNCT
ajeer-236	442	1	table-15	table-15	PROPN
ajeer-236	442	2	.	.	PROPN
ajeer-236	442	3	lag	lag	PROPN
ajeer-236	442	4	period	period	NOUN
ajeer-236	442	5	estimation	estimation	NOUN
ajeer-236	442	6	of	of	ADP
ajeer-236	442	7	var	var	PROPN
ajeer-236	442	8	model	model	NOUN
ajeer-236	442	9	of	of	ADP
ajeer-236	442	10	asia	asia	PROPN
ajeer-236	442	11	cement	cement	PROPN
ajeer-236	442	12	,	,	PUNCT
ajeer-236	442	13	taiwan	taiwan	PROPN
ajeer-236	442	14	50	50	NUM
ajeer-236	442	15	etf	etf	NOUN
ajeer-236	442	16	(	(	PUNCT
ajeer-236	442	17	p50	p50	NOUN
ajeer-236	442	18	)	)	PUNCT
ajeer-236	442	19	,	,	PUNCT
ajeer-236	442	20	and	and	CCONJ
ajeer-236	442	21	u	u	X
ajeer-236	442	22	-	-	ADJ
ajeer-236	442	23	ming	ming	ADJ
ajeer-236	442	24	marine	marine	PROPN
ajeer-236	442	25	lag	lag	PROPN
ajeer-236	442	26	logl	logl	PROPN
ajeer-236	442	27	lr	lr	PROPN
ajeer-236	442	28	fpe	fpe	PROPN
ajeer-236	442	29	aic	aic	PROPN
ajeer-236	442	30	sc	sc	PROPN
ajeer-236	442	31	hq	hq	PROPN
ajeer-236	442	32	1	1	NUM
ajeer-236	442	33	-7737.154	-7737.154	SYM
ajeer-236	442	34	24911.57	24911.57	NUM
ajeer-236	442	35	0.181921	0.181921	NUM
ajeer-236	442	36	6.809450	6.809450	NUM
ajeer-236	442	37	6.839662	6.839662	NUM
ajeer-236	442	38	6.820471	6.820471	NUM
ajeer-236	442	39	2	2	NUM
ajeer-236	442	40	-7683.505	-7683.505	PUNCT
ajeer-236	442	41	106.9673	106.9673	NUM
ajeer-236	442	42	0.174922	0.174922	NUM
ajeer-236	442	43	6.770216	6.770216	NUM
ajeer-236	442	44	6.823086	6.823086	NUM
ajeer-236	442	45	*	*	PUNCT
ajeer-236	442	46	6.789502	6.789502	NUM
ajeer-236	442	47	3	3	NUM
ajeer-236	442	48	-7656.867	-7656.867	SYM
ajeer-236	442	49	53.04309	53.04309	NUM
ajeer-236	442	50	0.172232	0.172232	NUM
ajeer-236	442	51	6.754716	6.754716	NUM
ajeer-236	442	52	6.830246	6.830246	NUM
ajeer-236	442	53	6.782268	6.782268	NUM
ajeer-236	442	54	*	*	SYM
ajeer-236	442	55	10	10	NUM
ajeer-236	442	56	-7587.266	-7587.266	SYM
ajeer-236	442	57	21.63717	21.63717	NUM
ajeer-236	442	58	*	*	PUNCT
ajeer-236	442	59	0.171236	0.171236	NUM
ajeer-236	442	60	*	*	PUNCT
ajeer-236	442	61	6.748916	6.748916	NUM
ajeer-236	442	62	*	*	NUM
ajeer-236	442	63	6.983057	6.983057	NUM
ajeer-236	442	64	6.834326	6.834326	NUM
ajeer-236	442	65	12	12	NUM
ajeer-236	442	66	-7575.269	-7575.269	PUNCT
ajeer-236	442	67	14.37891	14.37891	NUM
ajeer-236	442	68	0.172143	0.172143	NUM
ajeer-236	442	69	6.754191	6.754191	NUM
ajeer-236	442	70	7.033650	7.033650	NUM
ajeer-236	442	71	6.856132	6.856132	NUM
ajeer-236	442	72	table-16	table-16	PROPN
ajeer-236	442	73	.	.	PUNCT
ajeer-236	443	1	johansen	johansen	PROPN
ajeer-236	443	2	co	co	PROPN
ajeer-236	443	3	-	-	NOUN
ajeer-236	443	4	integration	integration	NOUN
ajeer-236	443	5	test	test	NOUN
ajeer-236	443	6	results	result	NOUN
ajeer-236	443	7	trace	trace	VERB
ajeer-236	443	8	max	max	PROPN
ajeer-236	443	9	-	-	PUNCT
ajeer-236	443	10	eigen	eigen	PROPN
ajeer-236	443	11	no	no	PROPN
ajeer-236	443	12	.	.	PROPN
ajeer-236	444	1	of	of	ADP
ajeer-236	444	2	ce(s	ce(s	ADV
ajeer-236	444	3	)	)	PUNCT
ajeer-236	444	4	eigenvalue	eigenvalue	NOUN
ajeer-236	444	5	statistic	statistic	ADJ
ajeer-236	444	6	critical	critical	ADJ
ajeer-236	444	7	value(0.05	value(0.05	NOUN
ajeer-236	444	8	)	)	PUNCT
ajeer-236	444	9	prob	prob	NOUN
ajeer-236	444	10	.	.	PUNCT
ajeer-236	445	1	statistic	statistic	ADJ
ajeer-236	445	2	critical	critical	ADJ
ajeer-236	445	3	value(0.05	value(0.05	NOUN
ajeer-236	445	4	)	)	PUNCT
ajeer-236	445	5	prob	prob	NOUN
ajeer-236	445	6	.	.	PUNCT
ajeer-236	446	1	none	none	NOUN
ajeer-236	446	2	*	*	PUNCT
ajeer-236	446	3	0.4489	0.4489	NUM
ajeer-236	446	4	5824.35	5824.35	NUM
ajeer-236	446	5	179.51	179.51	NUM
ajeer-236	446	6	0	0	NUM
ajeer-236	446	7	1442.06	1442.06	NUM
ajeer-236	446	8	54.97	54.97	NUM
ajeer-236	446	9	1.00	1.00	NUM
ajeer-236	446	10	at	at	ADP
ajeer-236	446	11	most	most	ADJ
ajeer-236	446	12	1	1	NUM
ajeer-236	446	13	0.3966	0.3966	NUM
ajeer-236	446	14	4382.29	4382.29	NUM
ajeer-236	447	1	143.67	143.67	NUM
ajeer-236	447	2	0	0	NUM
ajeer-236	447	3	1222.33	1222.33	NUM
ajeer-236	447	4	48.88	48.88	NUM
ajeer-236	447	5	1.00	1.00	NUM
ajeer-236	447	6	6.2.2	6.2.2	NUM
ajeer-236	447	7	.	.	PUNCT
ajeer-236	448	1	granger	granger	PROPN
ajeer-236	448	2	causality	causality	PROPN
ajeer-236	448	3	test	test	NOUN
ajeer-236	448	4	we	we	PRON
ajeer-236	448	5	include	include	VERB
ajeer-236	448	6	three	three	NUM
ajeer-236	448	7	variables	variable	NOUN
ajeer-236	448	8	,	,	PUNCT
ajeer-236	448	9	asia	asia	PROPN
ajeer-236	448	10	cement	cement	NOUN
ajeer-236	448	11	,	,	PUNCT
ajeer-236	448	12	taiwan	taiwan	PROPN
ajeer-236	448	13	50	50	NUM
ajeer-236	448	14	etf	etf	NOUN
ajeer-236	448	15	and	and	CCONJ
ajeer-236	448	16	u	u	NOUN
ajeer-236	448	17	-	-	PROPN
ajeer-236	448	18	ming	ming	ADJ
ajeer-236	448	19	marine	marine	PROPN
ajeer-236	448	20	,	,	PUNCT
ajeer-236	448	21	in	in	ADP
ajeer-236	448	22	the	the	DET
ajeer-236	448	23	var	var	NOUN
ajeer-236	448	24	model	model	NOUN
ajeer-236	448	25	and	and	CCONJ
ajeer-236	448	26	conduct	conduct	VERB
ajeer-236	448	27	the	the	DET
ajeer-236	448	28	granger	granger	PROPN
ajeer-236	448	29	causality	causality	PROPN
ajeer-236	448	30	test	test	NOUN
ajeer-236	448	31	.	.	PUNCT
ajeer-236	449	1	the	the	DET
ajeer-236	449	2	results	result	NOUN
ajeer-236	449	3	show	show	VERB
ajeer-236	449	4	that	that	SCONJ
ajeer-236	449	5	when	when	SCONJ
ajeer-236	449	6	lagging	lag	VERB
ajeer-236	449	7	10	10	NUM
ajeer-236	449	8	periods	period	NOUN
ajeer-236	449	9	,	,	PUNCT
ajeer-236	449	10	except	except	SCONJ
ajeer-236	449	11	that	that	SCONJ
ajeer-236	449	12	u	u	PROPN
ajeer-236	449	13	-	-	ADJ
ajeer-236	449	14	ming	ming	ADJ
ajeer-236	449	15	marine	marine	NOUN
ajeer-236	449	16	is	be	AUX
ajeer-236	449	17	not	not	PART
ajeer-236	449	18	the	the	DET
ajeer-236	449	19	granger	granger	NOUN
ajeer-236	449	20	cause	cause	PROPN
ajeer-236	449	21	of	of	ADP
ajeer-236	449	22	taiwan	taiwan	PROPN
ajeer-236	449	23	50	50	NUM
ajeer-236	449	24	etf	etf	NOUN
ajeer-236	449	25	,	,	PUNCT
ajeer-236	449	26	all	all	DET
ajeer-236	449	27	other	other	ADJ
ajeer-236	449	28	variables	variable	NOUN
ajeer-236	449	29	are	be	AUX
ajeer-236	449	30	granger	granger	NOUN
ajeer-236	449	31	cause	cause	NOUN
ajeer-236	449	32	of	of	ADP
ajeer-236	449	33	each	each	DET
ajeer-236	449	34	other	other	ADJ
ajeer-236	449	35	and	and	CCONJ
ajeer-236	449	36	can	can	AUX
ajeer-236	449	37	be	be	AUX
ajeer-236	449	38	treated	treat	VERB
ajeer-236	449	39	as	as	ADP
ajeer-236	449	40	endogenous	endogenous	ADJ
ajeer-236	449	41	variables	variable	NOUN
ajeer-236	449	42	(	(	PUNCT
ajeer-236	449	43	table	table	NOUN
ajeer-236	449	44	17	17	NUM
ajeer-236	449	45	)	)	PUNCT
ajeer-236	449	46	.	.	PUNCT
ajeer-236	450	1	in	in	ADP
ajeer-236	450	2	other	other	ADJ
ajeer-236	450	3	words	word	NOUN
ajeer-236	450	4	,	,	PUNCT
ajeer-236	450	5	the	the	DET
ajeer-236	450	6	three	three	NUM
ajeer-236	450	7	variables	variable	NOUN
ajeer-236	450	8	refuse	refuse	VERB
ajeer-236	450	9	to	to	PART
ajeer-236	450	10	reject	reject	VERB
ajeer-236	450	11	the	the	DET
ajeer-236	450	12	data	datum	NOUN
ajeer-236	450	13	of	of	ADP
ajeer-236	450	14	each	each	DET
ajeer-236	450	15	other	other	ADJ
ajeer-236	450	16	and	and	CCONJ
ajeer-236	450	17	we	we	PRON
ajeer-236	450	18	can	can	AUX
ajeer-236	450	19	proceed	proceed	VERB
ajeer-236	450	20	with	with	ADP
ajeer-236	450	21	the	the	DET
ajeer-236	450	22	investment	investment	NOUN
ajeer-236	450	23	simulation	simulation	NOUN
ajeer-236	450	24	in	in	ADP
ajeer-236	450	25	the	the	DET
ajeer-236	450	26	next	next	ADJ
ajeer-236	450	27	stage	stage	NOUN
ajeer-236	450	28	.	.	PUNCT
ajeer-236	451	1	table-17	table-17	X
ajeer-236	451	2	.	.	PUNCT
ajeer-236	452	1	granger	granger	PROPN
ajeer-236	452	2	causality	causality	NOUN
ajeer-236	452	3	relationships	relationship	NOUN
ajeer-236	452	4	between	between	ADP
ajeer-236	452	5	asia	asia	PROPN
ajeer-236	452	6	cement	cement	NOUN
ajeer-236	452	7	,	,	PUNCT
ajeer-236	452	8	taiwan	taiwan	PROPN
ajeer-236	452	9	50	50	NUM
ajeer-236	452	10	etf	etf	NOUN
ajeer-236	452	11	,	,	PUNCT
ajeer-236	452	12	and	and	CCONJ
ajeer-236	452	13	u	u	ADJ
ajeer-236	452	14	-	-	ADJ
ajeer-236	452	15	ming	ming	ADJ
ajeer-236	452	16	marine	marine	PROPN
ajeer-236	452	17	p1102	p1102	NOUN
ajeer-236	452	18	p50	p50	NOUN
ajeer-236	452	19	p2606	p2606	NOUN
ajeer-236	452	20	p1102	p1102	NOUN
ajeer-236	452	21	22.3095	22.3095	NUM
ajeer-236	452	22	(	(	PUNCT
ajeer-236	452	23	0.0136	0.0136	NUM
ajeer-236	452	24	)	)	PUNCT
ajeer-236	452	25	52.0642	52.0642	NUM
ajeer-236	452	26	(	(	PUNCT
ajeer-236	452	27	0.0000	0.0000	NUM
ajeer-236	452	28	)	)	PUNCT
ajeer-236	452	29	p50	p50	NOUN
ajeer-236	452	30	23.1639	23.1639	NUM
ajeer-236	452	31	(	(	PUNCT
ajeer-236	452	32	0.0102	0.0102	NUM
ajeer-236	452	33	)	)	PUNCT
ajeer-236	452	34	12.7971	12.7971	NUM
ajeer-236	452	35	(	(	PUNCT
ajeer-236	452	36	0.2352	0.2352	NUM
ajeer-236	452	37	)	)	PUNCT
ajeer-236	452	38	p2606	p2606	NUM
ajeer-236	452	39	43.1905	43.1905	NUM
ajeer-236	452	40	(	(	PUNCT
ajeer-236	452	41	0.0000	0.0000	NUM
ajeer-236	452	42	)	)	PUNCT
ajeer-236	452	43	36.1488	36.1488	NUM
ajeer-236	452	44	(	(	PUNCT
ajeer-236	452	45	0.0001	0.0001	NUM
ajeer-236	452	46	)	)	PUNCT
ajeer-236	452	47	note	note	NOUN
ajeer-236	452	48	:	:	PUNCT
ajeer-236	452	49	sample	sample	NOUN
ajeer-236	452	50	codes	code	NOUN
ajeer-236	452	51	are	be	AUX
ajeer-236	452	52	the	the	DET
ajeer-236	452	53	same	same	ADJ
ajeer-236	452	54	as	as	SCONJ
ajeer-236	452	55	that	that	PRON
ajeer-236	452	56	presented	present	VERB
ajeer-236	452	57	in	in	ADP
ajeer-236	452	58	table	table	NOUN
ajeer-236	452	59	14	14	NUM
ajeer-236	452	60	.	.	PUNCT
ajeer-236	453	1	6.3	6.3	NUM
ajeer-236	453	2	.	.	PUNCT
ajeer-236	454	1	coefficients	coefficient	NOUN
ajeer-236	454	2	estimation	estimation	NOUN
ajeer-236	454	3	of	of	ADP
ajeer-236	454	4	egarch	egarch	NOUN
ajeer-236	454	5	model	model	PROPN
ajeer-236	454	6	6.3.1	6.3.1	NUM
ajeer-236	454	7	.	.	PUNCT
ajeer-236	455	1	estimation	estimation	NOUN
ajeer-236	455	2	results	result	NOUN
ajeer-236	455	3	of	of	ADP
ajeer-236	455	4	egarch	egarch	NOUN
ajeer-236	455	5	model	model	NOUN
ajeer-236	455	6	(	(	PUNCT
ajeer-236	455	7	excluding	exclude	VERB
ajeer-236	455	8	u	u	NOUN
ajeer-236	455	9	-	-	ADJ
ajeer-236	455	10	ming	ming	ADJ
ajeer-236	455	11	marine	marine	PROPN
ajeer-236	455	12	)	)	PUNCT
ajeer-236	455	13	using	use	VERB
ajeer-236	455	14	log(var	log(var	PROPN
ajeer-236	455	15	)	)	PUNCT
ajeer-236	455	16	,	,	PUNCT
ajeer-236	455	17	the	the	DET
ajeer-236	455	18	values	value	NOUN
ajeer-236	455	19	of	of	ADP
ajeer-236	455	20			NOUN
ajeer-236	455	21	(	(	PUNCT
ajeer-236	455	22	1.2459	1.2459	NUM
ajeer-236	455	23	)	)	PUNCT
ajeer-236	455	24	and	and	CCONJ
ajeer-236	455	25			PROPN
ajeer-236	455	26	(	(	PUNCT
ajeer-236	455	27	0.9363	0.9363	NUM
ajeer-236	455	28	)	)	PUNCT
ajeer-236	455	29	of	of	ADP
ajeer-236	455	30	the	the	DET
ajeer-236	455	31	model	model	NOUN
ajeer-236	455	32	(	(	PUNCT
ajeer-236	455	33	excluding	exclude	VERB
ajeer-236	455	34	u	u	NOUN
ajeer-236	455	35	-	-	ADJ
ajeer-236	455	36	ming	ming	ADJ
ajeer-236	455	37	marine	marine	PROPN
ajeer-236	455	38	)	)	PUNCT
ajeer-236	455	39	are	be	AUX
ajeer-236	455	40	both	both	ADV
ajeer-236	455	41	significant	significant	ADJ
ajeer-236	455	42	at	at	ADP
ajeer-236	455	43	the	the	DET
ajeer-236	455	44	1	1	NUM
ajeer-236	455	45	%	%	NOUN
ajeer-236	455	46	level	level	NOUN
ajeer-236	455	47	.	.	PUNCT
ajeer-236	456	1	as	as	ADP
ajeer-236	456	2	for	for	ADP
ajeer-236	456	3	γ	γ	X
ajeer-236	456	4	(	(	PUNCT
ajeer-236	456	5	0.0822	0.0822	NUM
ajeer-236	456	6	)	)	PUNCT
ajeer-236	456	7	,	,	PUNCT
ajeer-236	456	8	it	it	PRON
ajeer-236	456	9	is	be	AUX
ajeer-236	456	10	positive	positive	ADJ
ajeer-236	456	11	and	and	CCONJ
ajeer-236	456	12	significant	significant	ADJ
ajeer-236	456	13	at	at	ADP
ajeer-236	456	14	the	the	DET
ajeer-236	456	15	10	10	NUM
ajeer-236	456	16	%	%	NOUN
ajeer-236	456	17	level	level	NOUN
ajeer-236	456	18	.	.	PUNCT
ajeer-236	457	1	this	this	PRON
ajeer-236	457	2	shows	show	VERB
ajeer-236	457	3	the	the	DET
ajeer-236	457	4	existence	existence	NOUN
ajeer-236	457	5	of	of	ADP
ajeer-236	457	6	asymmetric	asymmetric	ADJ
ajeer-236	457	7	volatility	volatility	NOUN
ajeer-236	457	8	.	.	PUNCT
ajeer-236	458	1	the	the	DET
ajeer-236	458	2	volatility	volatility	NOUN
ajeer-236	458	3	caused	cause	VERB
ajeer-236	458	4	by	by	ADP
ajeer-236	458	5	good	good	ADJ
ajeer-236	458	6	news	news	NOUN
ajeer-236	458	7	(	(	PUNCT
ajeer-236	458	8	1.3282	1.3282	NUM
ajeer-236	458	9	)	)	PUNCT
ajeer-236	458	10	is	be	AUX
ajeer-236	458	11	greater	great	ADJ
ajeer-236	458	12	than	than	ADP
ajeer-236	458	13	the	the	DET
ajeer-236	458	14	volatility	volatility	NOUN
ajeer-236	458	15	caused	cause	VERB
ajeer-236	458	16	by	by	ADP
ajeer-236	458	17	bad	bad	ADJ
ajeer-236	458	18	news	news	NOUN
ajeer-236	458	19	(	(	PUNCT
ajeer-236	458	20	1.1637	1.1637	NUM
ajeer-236	458	21	)	)	PUNCT
ajeer-236	458	22	(	(	PUNCT
ajeer-236	458	23	table	table	NOUN
ajeer-236	458	24	18	18	NUM
ajeer-236	458	25	)	)	PUNCT
ajeer-236	458	26	.	.	PUNCT
ajeer-236	459	1	the	the	DET
ajeer-236	459	2	news	news	NOUN
ajeer-236	459	3	impact	impact	NOUN
ajeer-236	459	4	curve	curve	NOUN
ajeer-236	459	5	of	of	ADP
ajeer-236	459	6	far	far	ADJ
ajeer-236	459	7	eastern	eastern	ADJ
ajeer-236	459	8	group	group	NOUN
ajeer-236	459	9	excluding	exclude	VERB
ajeer-236	459	10	u	u	NOUN
ajeer-236	459	11	-	-	ADJ
ajeer-236	459	12	ming	ming	ADJ
ajeer-236	459	13	marine	marine	PROPN
ajeer-236	459	14	is	be	AUX
ajeer-236	459	15	presented	present	VERB
ajeer-236	459	16	in	in	ADP
ajeer-236	459	17	figure	figure	NOUN
ajeer-236	459	18	3	3	NUM
ajeer-236	459	19	.	.	PUNCT
ajeer-236	459	20	asian	asian	ADJ
ajeer-236	459	21	journal	journal	PROPN
ajeer-236	459	22	of	of	ADP
ajeer-236	459	23	economics	economic	NOUN
ajeer-236	459	24	and	and	CCONJ
ajeer-236	459	25	empirical	empirical	ADJ
ajeer-236	459	26	research	research	NOUN
ajeer-236	459	27	,	,	PUNCT
ajeer-236	459	28	2017	2017	NUM
ajeer-236	459	29	,	,	PUNCT
ajeer-236	459	30	4(2	4(2	NUM
ajeer-236	459	31	):	):	PUNCT
ajeer-236	459	32	106	106	NUM
ajeer-236	459	33	-	-	SYM
ajeer-236	459	34	120	120	NUM
ajeer-236	459	35	117	117	NUM
ajeer-236	459	36	table-18	table-18	PROPN
ajeer-236	459	37	.	.	PUNCT
ajeer-236	459	38	estimation	estimation	NOUN
ajeer-236	459	39	results	result	NOUN
ajeer-236	459	40	of	of	ADP
ajeer-236	459	41	egarch	egarch	NOUN
ajeer-236	459	42	model	model	NOUN
ajeer-236	459	43	(	(	PUNCT
ajeer-236	459	44	excluding	exclude	VERB
ajeer-236	459	45	u	u	NOUN
ajeer-236	459	46	-	-	ADJ
ajeer-236	459	47	ming	ming	ADJ
ajeer-236	459	48	marine	marine	PROPN
ajeer-236	459	49	)	)	PUNCT
ajeer-236	459	50	variable	variable	ADJ
ajeer-236	459	51	coefficient	coefficient	NOUN
ajeer-236	459	52	std	std	NOUN
ajeer-236	459	53	.	.	PUNCT
ajeer-236	460	1	error	error	NOUN
ajeer-236	460	2	z	z	NOUN
ajeer-236	460	3	-	-	PUNCT
ajeer-236	460	4	statistic	statistic	ADJ
ajeer-236	460	5	prob	prob	NOUN
ajeer-236	460	6	.	.	PUNCT
ajeer-236	461	1	log(garch	log(garch	PROPN
ajeer-236	461	2	)	)	PUNCT
ajeer-236	462	1	0.253939	0.253939	NUM
ajeer-236	463	1	0.013727	0.013727	NUM
ajeer-236	463	2	18.49924	18.49924	NUM
ajeer-236	463	3	0	0	NUM
ajeer-236	463	4	p1460	p1460	ADJ
ajeer-236	463	5	-1.37272	-1.37272	NOUN
ajeer-236	463	6	0.003421	0.003421	NUM
ajeer-236	463	7	-401.274	-401.274	PROPN
ajeer-236	463	8	0	0	NUM
ajeer-236	463	9	p50	p50	VERB
ajeer-236	463	10	0.855594	0.855594	NUM
ajeer-236	463	11	0.000819	0.000819	NUM
ajeer-236	463	12	1044.124	1044.124	NUM
ajeer-236	463	13	0	0	NUM
ajeer-236	463	14	d(p1402	d(p1402	NOUN
ajeer-236	463	15	)	)	PUNCT
ajeer-236	463	16	-0.01974	-0.01974	NOUN
ajeer-236	464	1	0.029651	0.029651	NUM
ajeer-236	464	2	-0.66584	-0.66584	NOUN
ajeer-236	464	3	0.5055	0.5055	NUM
ajeer-236	464	4	d(p1710	d(p1710	ADJ
ajeer-236	464	5	)	)	PUNCT
ajeer-236	464	6	-0.07774	-0.07774	NOUN
ajeer-236	464	7	0.017068	0.017068	NUM
ajeer-236	464	8	-4.55488	-4.55488	NOUN
ajeer-236	464	9	0	0	NUM
ajeer-236	464	10	d(p2845	d(p2845	ADJ
ajeer-236	464	11	)	)	PUNCT
ajeer-236	464	12	0.012349	0.012349	NUM
ajeer-236	465	1	0.037818	0.037818	NUM
ajeer-236	465	2	0.326538	0.326538	NUM
ajeer-236	465	3	0.744	0.744	NUM
ajeer-236	465	4	d(p2903	d(p2903	NOUN
ajeer-236	465	5	)	)	PUNCT
ajeer-236	465	6	0.123528	0.123528	NUM
ajeer-236	465	7	0.024697	0.024697	NUM
ajeer-236	465	8	5.001772	5.001772	NUM
ajeer-236	465	9	0	0	NUM
ajeer-236	465	10	d(p4904	d(p4904	ADJ
ajeer-236	465	11	)	)	PUNCT
ajeer-236	465	12	-0.01338	-0.01338	PROPN
ajeer-236	465	13	0.013625	0.013625	NUM
ajeer-236	465	14	-0.98203	-0.98203	VERB
ajeer-236	465	15	0.3261	0.3261	NUM
ajeer-236	465	16	variance	variance	NOUN
ajeer-236	465	17	equation	equation	NOUN
ajeer-236	465	18	c(9	c(9	PROPN
ajeer-236	465	19	)	)	PUNCT
ajeer-236	465	20	-1.0055	-1.0055	NOUN
ajeer-236	466	1	0.039416	0.039416	NUM
ajeer-236	466	2	-25.51	-25.51	SYM
ajeer-236	466	3	0	0	NUM
ajeer-236	466	4	c(10	c(10	NOUN
ajeer-236	466	5	)	)	PUNCT
ajeer-236	466	6	1.245943	1.245943	NUM
ajeer-236	466	7	0.06153	0.06153	NUM
ajeer-236	466	8	20.24945	20.24945	NUM
ajeer-236	466	9	0	0	NUM
ajeer-236	466	10	c(11	c(11	NOUN
ajeer-236	466	11	)	)	PUNCT
ajeer-236	466	12	0.082286	0.082286	NUM
ajeer-236	466	13	0.045586	0.045586	NUM
ajeer-236	466	14	1.805092	1.805092	NUM
ajeer-236	466	15	0.0711	0.0711	NUM
ajeer-236	466	16	c(12	c(12	CCONJ
ajeer-236	466	17	)	)	PUNCT
ajeer-236	467	1	0.934208	0.934208	NUM
ajeer-236	467	2	0.016346	0.016346	NUM
ajeer-236	467	3	57.15351	57.15351	NUM
ajeer-236	467	4	0	0	SYM
ajeer-236	467	5	r	r	X
ajeer-236	467	6	-	-	PUNCT
ajeer-236	467	7	squared	square	VERB
ajeer-236	467	8	-0.11256	-0.11256	NOUN
ajeer-236	467	9	akaike	akaike	ADJ
ajeer-236	467	10	info	info	NOUN
ajeer-236	467	11	criterion	criterion	NOUN
ajeer-236	467	12	5.347462	5.347462	NUM
ajeer-236	467	13	log	log	NOUN
ajeer-236	467	14	likelihood	likelihood	NOUN
ajeer-236	468	1	-6463.78	-6463.78	PROPN
ajeer-236	469	1	schwarz	schwarz	PROPN
ajeer-236	470	1	criterion	criterion	NOUN
ajeer-236	470	2	5.376161	5.376161	NUM
ajeer-236	470	3	figure-3	figure-3	NUM
ajeer-236	470	4	.	.	PUNCT
ajeer-236	470	5	news	news	NOUN
ajeer-236	470	6	impact	impact	NOUN
ajeer-236	470	7	curve	curve	NOUN
ajeer-236	470	8	of	of	ADP
ajeer-236	470	9	far	far	ADJ
ajeer-236	470	10	eastern	eastern	ADJ
ajeer-236	470	11	group	group	NOUN
ajeer-236	470	12	(	(	PUNCT
ajeer-236	470	13	excluding	exclude	VERB
ajeer-236	470	14	u	u	NOUN
ajeer-236	470	15	-	-	ADJ
ajeer-236	470	16	ming	ming	ADJ
ajeer-236	470	17	marine	marine	PROPN
ajeer-236	470	18	)	)	PUNCT
ajeer-236	470	19	6.3.2	6.3.2	X
ajeer-236	470	20	.	.	PUNCT
ajeer-236	471	1	estimation	estimation	NOUN
ajeer-236	471	2	results	result	NOUN
ajeer-236	471	3	of	of	ADP
ajeer-236	471	4	egarch	egarch	NOUN
ajeer-236	471	5	model	model	NOUN
ajeer-236	471	6	(	(	PUNCT
ajeer-236	471	7	including	include	VERB
ajeer-236	471	8	u	u	NOUN
ajeer-236	471	9	-	-	ADJ
ajeer-236	471	10	ming	ming	ADJ
ajeer-236	471	11	marine	marine	PROPN
ajeer-236	471	12	)	)	PUNCT
ajeer-236	471	13	using	use	VERB
ajeer-236	471	14	the	the	DET
ajeer-236	471	15	log(var	log(var	NOUN
ajeer-236	471	16	)	)	PUNCT
ajeer-236	471	17	method	method	NOUN
ajeer-236	471	18	,	,	PUNCT
ajeer-236	471	19			NOUN
ajeer-236	471	20	(=	(=	ADP
ajeer-236	471	21	1.0893	1.0893	NUM
ajeer-236	471	22	)	)	PUNCT
ajeer-236	471	23	,	,	PUNCT
ajeer-236	471	24			NOUN
ajeer-236	471	25	(=	(=	NOUN
ajeer-236	471	26	0.5299	0.5299	NUM
ajeer-236	471	27	)	)	PUNCT
ajeer-236	471	28	,	,	PUNCT
ajeer-236	471	29	and	and	CCONJ
ajeer-236	471	30			NUM
ajeer-236	471	31	(=	(=	ADJ
ajeer-236	471	32	-0.1797	-0.1797	NOUN
ajeer-236	471	33	)	)	PUNCT
ajeer-236	471	34	of	of	ADP
ajeer-236	471	35	this	this	DET
ajeer-236	471	36	model	model	NOUN
ajeer-236	471	37	(	(	PUNCT
ajeer-236	471	38	including	include	VERB
ajeer-236	471	39	u	u	NOUN
ajeer-236	471	40	-	-	ADJ
ajeer-236	471	41	ming	ming	ADJ
ajeer-236	471	42	marine	marine	PROPN
ajeer-236	471	43	)	)	PUNCT
ajeer-236	471	44	are	be	AUX
ajeer-236	471	45	all	all	ADV
ajeer-236	471	46	significant	significant	ADJ
ajeer-236	471	47	at	at	ADP
ajeer-236	471	48	the	the	DET
ajeer-236	471	49	1	1	NUM
ajeer-236	471	50	%	%	NOUN
ajeer-236	471	51	level	level	NOUN
ajeer-236	471	52	.	.	PUNCT
ajeer-236	472	1	the	the	DET
ajeer-236	472	2	results	result	NOUN
ajeer-236	472	3	shows	show	VERB
ajeer-236	472	4	that	that	SCONJ
ajeer-236	472	5	due	due	ADP
ajeer-236	472	6	to	to	ADP
ajeer-236	472	7	leverage	leverage	NOUN
ajeer-236	472	8	effect	effect	NOUN
ajeer-236	472	9	negative	negative	ADJ
ajeer-236	472	10	news	news	NOUN
ajeer-236	472	11	have	have	VERB
ajeer-236	472	12	greater	great	ADJ
ajeer-236	472	13	impacts	impact	NOUN
ajeer-236	472	14	on	on	ADP
ajeer-236	472	15	investors‟	investors‟	NUM
ajeer-236	472	16	psychological	psychological	ADJ
ajeer-236	472	17	reactions	reaction	NOUN
ajeer-236	472	18	.	.	PUNCT
ajeer-236	473	1	the	the	DET
ajeer-236	473	2	leverage	leverage	NOUN
ajeer-236	473	3	effect	effect	NOUN
ajeer-236	473	4	of	of	ADP
ajeer-236	473	5	positive	positive	ADJ
ajeer-236	473	6	news	news	NOUN
ajeer-236	473	7	can	can	AUX
ajeer-236	473	8	be	be	AUX
ajeer-236	473	9	presented	present	VERB
ajeer-236	473	10	as	as	ADP
ajeer-236	473	11	:	:	PUNCT
ajeer-236	473	12	0.9090=(1.0893	0.9090=(1.0893	PROPN
ajeer-236	473	13	-	-	PUNCT
ajeer-236	473	14	0.1797	0.1797	NUM
ajeer-236	473	15	)	)	PUNCT
ajeer-236	473	16	.	.	PUNCT
ajeer-236	474	1	the	the	DET
ajeer-236	474	2	leverage	leverage	NOUN
ajeer-236	474	3	effect	effect	NOUN
ajeer-236	474	4	of	of	ADP
ajeer-236	474	5	negative	negative	ADJ
ajeer-236	474	6	news	news	NOUN
ajeer-236	474	7	can	can	AUX
ajeer-236	474	8	be	be	AUX
ajeer-236	474	9	presented	present	VERB
ajeer-236	474	10	as	as	ADP
ajeer-236	474	11	:	:	PUNCT
ajeer-236	474	12	1.2690=1.0893	1.2690=1.0893	PROPN
ajeer-236	474	13	-	-	PUNCT
ajeer-236	474	14	0.1797*(-1	0.1797*(-1	PROPN
ajeer-236	474	15	)	)	PUNCT
ajeer-236	474	16	(	(	PUNCT
ajeer-236	474	17	table	table	NOUN
ajeer-236	474	18	19	19	NUM
ajeer-236	474	19	)	)	PUNCT
ajeer-236	474	20	.	.	PUNCT
ajeer-236	475	1	the	the	DET
ajeer-236	475	2			PROPN
ajeer-236	475	3	of	of	ADP
ajeer-236	475	4	the	the	DET
ajeer-236	475	5	model	model	NOUN
ajeer-236	475	6	including	include	VERB
ajeer-236	475	7	u	u	NOUN
ajeer-236	475	8	-	-	ADJ
ajeer-236	475	9	ming	ming	ADJ
ajeer-236	475	10	marine	marine	NOUN
ajeer-236	475	11	is	be	AUX
ajeer-236	475	12	smaller	small	ADJ
ajeer-236	475	13	than	than	ADP
ajeer-236	475	14	that	that	PRON
ajeer-236	475	15	of	of	ADP
ajeer-236	475	16	the	the	DET
ajeer-236	475	17	model	model	NOUN
ajeer-236	475	18	excluding	exclude	VERB
ajeer-236	475	19	u	u	NOUN
ajeer-236	475	20	-	-	ADJ
ajeer-236	475	21	ming	ming	ADJ
ajeer-236	475	22	marine	marine	PROPN
ajeer-236	475	23	.	.	PUNCT
ajeer-236	476	1	this	this	PRON
ajeer-236	476	2	suggests	suggest	VERB
ajeer-236	476	3	that	that	SCONJ
ajeer-236	476	4	the	the	DET
ajeer-236	476	5	model	model	NOUN
ajeer-236	476	6	stabilizes	stabilize	VERB
ajeer-236	476	7	more	more	ADV
ajeer-236	476	8	quickly	quickly	ADV
ajeer-236	476	9	.	.	PUNCT
ajeer-236	477	1	the	the	DET
ajeer-236	477	2	news	news	NOUN
ajeer-236	477	3	impact	impact	NOUN
ajeer-236	477	4	curve	curve	NOUN
ajeer-236	477	5	of	of	ADP
ajeer-236	477	6	the	the	DET
ajeer-236	477	7	far	far	ADV
ajeer-236	477	8	eastern	eastern	ADJ
ajeer-236	477	9	group	group	NOUN
ajeer-236	477	10	,	,	PUNCT
ajeer-236	477	11	including	include	VERB
ajeer-236	477	12	u	u	NOUN
ajeer-236	477	13	-	-	ADJ
ajeer-236	477	14	ming	ming	ADJ
ajeer-236	477	15	marine	marine	PROPN
ajeer-236	477	16	,	,	PUNCT
ajeer-236	477	17	is	be	AUX
ajeer-236	477	18	presented	present	VERB
ajeer-236	477	19	in	in	ADP
ajeer-236	477	20	figure	figure	NOUN
ajeer-236	477	21	4	4	NUM
ajeer-236	477	22	.	.	PUNCT
ajeer-236	478	1	table-19	table-19	PROPN
ajeer-236	478	2	.	.	PUNCT
ajeer-236	479	1	estimation	estimation	NOUN
ajeer-236	479	2	results	result	NOUN
ajeer-236	479	3	of	of	ADP
ajeer-236	479	4	egarch	egarch	NOUN
ajeer-236	479	5	model	model	NOUN
ajeer-236	479	6	(	(	PUNCT
ajeer-236	479	7	including	include	VERB
ajeer-236	479	8	u	u	NOUN
ajeer-236	479	9	-	-	ADJ
ajeer-236	479	10	ming	ming	ADJ
ajeer-236	479	11	marine	marine	PROPN
ajeer-236	479	12	)	)	PUNCT
ajeer-236	479	13	variable	variable	ADJ
ajeer-236	479	14	coefficient	coefficient	NOUN
ajeer-236	479	15	std	std	NOUN
ajeer-236	479	16	.	.	PUNCT
ajeer-236	479	17	error	error	NOUN
ajeer-236	479	18	z	z	NOUN
ajeer-236	479	19	-	-	PUNCT
ajeer-236	479	20	statistic	statistic	ADJ
ajeer-236	479	21	prob	prob	NOUN
ajeer-236	479	22	.	.	PUNCT
ajeer-236	480	1	log(garch	log(garch	PROPN
ajeer-236	480	2	)	)	PUNCT
ajeer-236	481	1	-1.99369	-1.99369	PROPN
ajeer-236	482	1	0.000332	0.000332	NUM
ajeer-236	482	2	-6010.5	-6010.5	NOUN
ajeer-236	482	3	0	0	NUM
ajeer-236	482	4	p1102	p1102	PROPN
ajeer-236	482	5	1.408301	1.408301	NUM
ajeer-236	482	6	4.92e-05	4.92e-05	NUM
ajeer-236	482	7	28652.68	28652.68	NUM
ajeer-236	482	8	0	0	NUM
ajeer-236	482	9	p1460	p1460	NOUN
ajeer-236	482	10	-3.35942	-3.35942	NOUN
ajeer-236	482	11	0.000292	0.000292	NUM
ajeer-236	482	12	-11514.9	-11514.9	SYM
ajeer-236	482	13	0	0	NUM
ajeer-236	482	14	p50	p50	NOUN
ajeer-236	482	15	0.746751	0.746751	NUM
ajeer-236	482	16	8.08e-05	8.08e-05	NUM
ajeer-236	482	17	9237.694	9237.694	NUM
ajeer-236	482	18	0	0	NUM
ajeer-236	482	19	d(p1402	d(p1402	NOUN
ajeer-236	482	20	)	)	PUNCT
ajeer-236	482	21	-0.40108	-0.40108	NOUN
ajeer-236	482	22	0.002449	0.002449	NUM
ajeer-236	483	1	-163.802	-163.802	PROPN
ajeer-236	483	2	0	0	NUM
ajeer-236	483	3	d(p1710	d(p1710	ADJ
ajeer-236	483	4	)	)	PUNCT
ajeer-236	483	5	0.296476	0.296476	NUM
ajeer-236	483	6	0.002707	0.002707	NUM
ajeer-236	483	7	109.5347	109.5347	NUM
ajeer-236	483	8	0	0	NUM
ajeer-236	483	9	d(p2845	d(p2845	ADJ
ajeer-236	483	10	)	)	PUNCT
ajeer-236	483	11	-0.15351	-0.15351	NOUN
ajeer-236	483	12	0.003334	0.003334	NUM
ajeer-236	483	13	-46.0395	-46.0395	SYM
ajeer-236	483	14	0	0	NUM
ajeer-236	483	15	d(p2903	d(p2903	NOUN
ajeer-236	483	16	)	)	PUNCT
ajeer-236	483	17	-0.38407	-0.38407	PUNCT
ajeer-236	484	1	0.000308	0.000308	NUM
ajeer-236	485	1	-1247.76	-1247.76	PROPN
ajeer-236	485	2	0	0	SYM
ajeer-236	485	3	d(p4904	d(p4904	ADJ
ajeer-236	485	4	)	)	PUNCT
ajeer-236	485	5	0.100932	0.100932	NUM
ajeer-236	485	6	0.003646	0.003646	NUM
ajeer-236	485	7	27.68309	27.68309	NUM
ajeer-236	485	8	0	0	NUM
ajeer-236	485	9	variance	variance	NOUN
ajeer-236	485	10	equation	equation	NOUN
ajeer-236	485	11	c(10	c(10	NOUN
ajeer-236	485	12	)	)	PUNCT
ajeer-236	485	13	0.076418	0.076418	PROPN
ajeer-236	485	14	0.000226	0.000226	NUM
ajeer-236	486	1	337.6941	337.6941	NUM
ajeer-236	486	2	0	0	NUM
ajeer-236	486	3	c(11	c(11	NOUN
ajeer-236	486	4	)	)	PUNCT
ajeer-236	486	5	1.089367	1.089367	NUM
ajeer-236	486	6	0.000739	0.000739	NUM
ajeer-236	486	7	1473.486	1473.486	NUM
ajeer-236	486	8	0	0	NUM
ajeer-236	486	9	c(12	c(12	NOUN
ajeer-236	486	10	)	)	PUNCT
ajeer-236	486	11	-0.17974	-0.17974	NOUN
ajeer-236	487	1	0.000256	0.000256	NUM
ajeer-236	487	2	-701.306	-701.306	NUM
ajeer-236	487	3	0	0	NUM
ajeer-236	487	4	c(13	c(13	ADJ
ajeer-236	487	5	)	)	PUNCT
ajeer-236	487	6	0.529939	0.529939	NUM
ajeer-236	487	7	0.000348	0.000348	NUM
ajeer-236	487	8	1521.322	1521.322	NUM
ajeer-236	487	9	0	0	SYM
ajeer-236	487	10	r	r	X
ajeer-236	487	11	-	-	PUNCT
ajeer-236	487	12	squared	square	VERB
ajeer-236	487	13	0.75463	0.75463	NUM
ajeer-236	487	14	akaike	akaike	ADJ
ajeer-236	487	15	info	info	NOUN
ajeer-236	487	16	criterion	criterion	NOUN
ajeer-236	487	17	6.527433	6.527433	NUM
ajeer-236	487	18	log	log	NOUN
ajeer-236	487	19	likelihood	likelihood	NOUN
ajeer-236	487	20	-7891.72	-7891.72	NUM
ajeer-236	487	21	schwarz	schwarz	PROPN
ajeer-236	487	22	criterion	criterion	NOUN
ajeer-236	487	23	6.558523	6.558523	NUM
ajeer-236	487	24	asian	asian	ADJ
ajeer-236	487	25	journal	journal	NOUN
ajeer-236	487	26	of	of	ADP
ajeer-236	487	27	economics	economic	NOUN
ajeer-236	487	28	and	and	CCONJ
ajeer-236	487	29	empirical	empirical	ADJ
ajeer-236	487	30	research	research	NOUN
ajeer-236	487	31	,	,	PUNCT
ajeer-236	487	32	2017	2017	NUM
ajeer-236	487	33	,	,	PUNCT
ajeer-236	487	34	4(2	4(2	NUM
ajeer-236	487	35	):	):	PUNCT
ajeer-236	487	36	106	106	NUM
ajeer-236	487	37	-	-	SYM
ajeer-236	487	38	120	120	NUM
ajeer-236	487	39	118	118	NUM
ajeer-236	487	40	figure-4	figure-4	NOUN
ajeer-236	487	41	.	.	PUNCT
ajeer-236	487	42	news	news	NOUN
ajeer-236	487	43	impact	impact	NOUN
ajeer-236	487	44	curve	curve	NOUN
ajeer-236	487	45	of	of	ADP
ajeer-236	487	46	far	far	ADJ
ajeer-236	487	47	eastern	eastern	ADJ
ajeer-236	487	48	group	group	NOUN
ajeer-236	487	49	(	(	PUNCT
ajeer-236	487	50	including	include	VERB
ajeer-236	487	51	u	u	NOUN
ajeer-236	487	52	-	-	ADJ
ajeer-236	487	53	ming	ming	ADJ
ajeer-236	487	54	marine	marine	PROPN
ajeer-236	487	55	)	)	PUNCT
ajeer-236	487	56	figure	figure	NOUN
ajeer-236	487	57	3	3	NUM
ajeer-236	487	58	and	and	CCONJ
ajeer-236	487	59	4	4	NUM
ajeer-236	487	60	shows	show	VERB
ajeer-236	487	61	that	that	SCONJ
ajeer-236	487	62	returns	return	NOUN
ajeer-236	487	63	and	and	CCONJ
ajeer-236	487	64	risks	risk	NOUN
ajeer-236	487	65	are	be	AUX
ajeer-236	487	66	significantly	significantly	ADV
ajeer-236	487	67	different	different	ADJ
ajeer-236	487	68	depending	depend	VERB
ajeer-236	487	69	on	on	ADP
ajeer-236	487	70	weather	weather	NOUN
ajeer-236	487	71	u	u	PROPN
ajeer-236	487	72	-	-	PROPN
ajeer-236	487	73	ming	ming	ADJ
ajeer-236	487	74	marine	marine	NOUN
ajeer-236	487	75	is	be	AUX
ajeer-236	487	76	included	include	VERB
ajeer-236	487	77	.	.	PUNCT
ajeer-236	488	1	this	this	DET
ajeer-236	488	2	study	study	NOUN
ajeer-236	488	3	also	also	ADV
ajeer-236	488	4	tests	test	VERB
ajeer-236	488	5	for	for	ADP
ajeer-236	488	6	the	the	DET
ajeer-236	488	7	differences	difference	NOUN
ajeer-236	488	8	in	in	ADP
ajeer-236	488	9	γ	γ	NOUN
ajeer-236	488	10	coefficients	coefficient	NOUN
ajeer-236	488	11	.	.	PUNCT
ajeer-236	489	1	the	the	DET
ajeer-236	489	2	t	t	PROPN
ajeer-236	489	3	statistic	statistic	NOUN
ajeer-236	489	4	is	be	AUX
ajeer-236	489	5	105.16	105.16	NUM
ajeer-236	489	6	,	,	PUNCT
ajeer-236	489	7	suggesting	suggest	VERB
ajeer-236	489	8	significant	significant	ADJ
ajeer-236	489	9	differences	difference	NOUN
ajeer-236	489	10	in	in	ADP
ajeer-236	489	11	γ	γ	PROPN
ajeer-236	489	12	.	.	PUNCT
ajeer-236	490	1	the	the	DET
ajeer-236	490	2	results	result	NOUN
ajeer-236	490	3	show	show	VERB
ajeer-236	490	4	investor	investor	NOUN
ajeer-236	490	5	sentiment	sentiment	NOUN
ajeer-236	490	6	is	be	AUX
ajeer-236	490	7	calmer	calm	ADJ
ajeer-236	490	8	when	when	SCONJ
ajeer-236	490	9	excluding	exclude	VERB
ajeer-236	490	10	u	u	NOUN
ajeer-236	490	11	-	-	ADJ
ajeer-236	490	12	ming	ming	ADJ
ajeer-236	490	13	marine	marine	NOUN
ajeer-236	490	14	.	.	PUNCT
ajeer-236	491	1	6.4	6.4	NUM
ajeer-236	491	2	.	.	PUNCT
ajeer-236	491	3	comparison	comparison	NOUN
ajeer-236	491	4	of	of	ADP
ajeer-236	491	5	far	far	ADJ
ajeer-236	491	6	eastern	eastern	ADJ
ajeer-236	491	7	group	group	NOUN
ajeer-236	491	8	’s	’s	PART
ajeer-236	491	9	investment	investment	NOUN
ajeer-236	491	10	performance	performance	NOUN
ajeer-236	491	11	the	the	DET
ajeer-236	491	12	model	model	NOUN
ajeer-236	491	13	adopts	adopt	VERB
ajeer-236	491	14	the	the	DET
ajeer-236	491	15	stock	stock	NOUN
ajeer-236	491	16	prices	price	NOUN
ajeer-236	491	17	of	of	ADP
ajeer-236	491	18	leading	lead	VERB
ajeer-236	491	19	company	company	NOUN
ajeer-236	491	20	,	,	PUNCT
ajeer-236	491	21	taiwan	taiwan	PROPN
ajeer-236	491	22	50	50	NUM
ajeer-236	491	23	etf	etf	NOUN
ajeer-236	491	24	and	and	CCONJ
ajeer-236	491	25	other	other	ADJ
ajeer-236	491	26	stocks	stock	NOUN
ajeer-236	491	27	.	.	PUNCT
ajeer-236	492	1	that	that	PRON
ajeer-236	492	2	is	is	ADV
ajeer-236	492	3	,	,	PUNCT
ajeer-236	492	4	data1	data1	PROPN
ajeer-236	492	5	is	be	AUX
ajeer-236	492	6	the	the	DET
ajeer-236	492	7	price	price	NOUN
ajeer-236	492	8	of	of	ADP
ajeer-236	492	9	individual	individual	ADJ
ajeer-236	492	10	stocks	stock	NOUN
ajeer-236	492	11	;	;	PUNCT
ajeer-236	492	12	data2	data2	PROPN
ajeer-236	492	13	is	be	AUX
ajeer-236	492	14	the	the	DET
ajeer-236	492	15	price	price	NOUN
ajeer-236	492	16	of	of	ADP
ajeer-236	492	17	0050	0050	NUM
ajeer-236	492	18	etf	etf	NOUN
ajeer-236	492	19	;	;	PUNCT
ajeer-236	492	20	data3	data3	NOUN
ajeer-236	492	21	is	be	AUX
ajeer-236	492	22	the	the	DET
ajeer-236	492	23	price	price	NOUN
ajeer-236	492	24	of	of	ADP
ajeer-236	492	25	leading	lead	VERB
ajeer-236	492	26	company	company	NOUN
ajeer-236	492	27	,	,	PUNCT
ajeer-236	492	28	where	where	SCONJ
ajeer-236	492	29	u	u	NOUN
ajeer-236	492	30	-	-	ADJ
ajeer-236	492	31	ming	ming	ADJ
ajeer-236	492	32	marine	marine	PROPN
ajeer-236	492	33	is	be	AUX
ajeer-236	492	34	used	use	VERB
ajeer-236	492	35	in	in	ADP
ajeer-236	492	36	model	model	NOUN
ajeer-236	492	37	1	1	NUM
ajeer-236	492	38	and	and	CCONJ
ajeer-236	492	39	far	far	ADV
ajeer-236	492	40	eastern	eastern	ADJ
ajeer-236	492	41	department	department	NOUN
ajeer-236	492	42	stores	store	NOUN
ajeer-236	492	43	is	be	AUX
ajeer-236	492	44	used	use	VERB
ajeer-236	492	45	in	in	ADP
ajeer-236	492	46	model	model	NOUN
ajeer-236	492	47	2	2	NUM
ajeer-236	492	48	.	.	PUNCT
ajeer-236	493	1	the	the	DET
ajeer-236	493	2	results	result	NOUN
ajeer-236	493	3	show	show	VERB
ajeer-236	493	4	that	that	SCONJ
ajeer-236	493	5	in	in	ADP
ajeer-236	493	6	model	model	NOUN
ajeer-236	493	7	1	1	NUM
ajeer-236	493	8	,	,	PUNCT
ajeer-236	493	9	only	only	ADV
ajeer-236	493	10	two	two	NUM
ajeer-236	493	11	companies	company	NOUN
ajeer-236	493	12	have	have	VERB
ajeer-236	493	13	an	an	DET
ajeer-236	493	14	increase	increase	NOUN
ajeer-236	493	15	in	in	ADP
ajeer-236	493	16	investment	investment	NOUN
ajeer-236	493	17	returns	return	NOUN
ajeer-236	493	18	in	in	ADP
ajeer-236	493	19	the	the	DET
ajeer-236	493	20	second	second	ADJ
ajeer-236	493	21	stage	stage	NOUN
ajeer-236	493	22	.	.	PUNCT
ajeer-236	494	1	if	if	SCONJ
ajeer-236	494	2	the	the	DET
ajeer-236	494	3	investment	investment	NOUN
ajeer-236	494	4	portfolio	portfolio	NOUN
ajeer-236	494	5	includes	include	VERB
ajeer-236	494	6	the	the	DET
ajeer-236	494	7	eight	eight	NUM
ajeer-236	494	8	companies	company	NOUN
ajeer-236	494	9	in	in	ADP
ajeer-236	494	10	far	far	ADV
ajeer-236	494	11	eastern	eastern	ADJ
ajeer-236	494	12	group	group	NOUN
ajeer-236	494	13	,	,	PUNCT
ajeer-236	494	14	the	the	DET
ajeer-236	494	15	investment	investment	NOUN
ajeer-236	494	16	is	be	AUX
ajeer-236	494	17	profitable	profitable	ADJ
ajeer-236	494	18	(	(	PUNCT
ajeer-236	494	19	table	table	NOUN
ajeer-236	494	20	20	20	NUM
ajeer-236	494	21	-	-	SYM
ajeer-236	494	22	1	1	NUM
ajeer-236	494	23	)	)	PUNCT
ajeer-236	494	24	.	.	PUNCT
ajeer-236	495	1	the	the	DET
ajeer-236	495	2	profit	profit	NOUN
ajeer-236	495	3	in	in	ADP
ajeer-236	495	4	the	the	DET
ajeer-236	495	5	first	first	ADJ
ajeer-236	495	6	stage	stage	NOUN
ajeer-236	495	7	is	be	AUX
ajeer-236	495	8	$	$	SYM
ajeer-236	495	9	132.18	132.18	NUM
ajeer-236	495	10	but	but	CCONJ
ajeer-236	495	11	it	it	PRON
ajeer-236	495	12	decreases	decrease	VERB
ajeer-236	495	13	to	to	ADP
ajeer-236	495	14	$	$	SYM
ajeer-236	495	15	129.41	129.41	NUM
ajeer-236	495	16	in	in	ADP
ajeer-236	495	17	the	the	DET
ajeer-236	495	18	second	second	ADJ
ajeer-236	495	19	stage	stage	NOUN
ajeer-236	495	20	,	,	PUNCT
ajeer-236	495	21	showing	show	VERB
ajeer-236	495	22	a	a	DET
ajeer-236	495	23	fall	fall	NOUN
ajeer-236	495	24	of	of	ADP
ajeer-236	495	25	0.0209	0.0209	NUM
ajeer-236	495	26	%	%	NOUN
ajeer-236	495	27	.	.	PUNCT
ajeer-236	496	1	therefore	therefore	ADV
ajeer-236	496	2	,	,	PUNCT
ajeer-236	496	3	this	this	DET
ajeer-236	496	4	program	program	NOUN
ajeer-236	496	5	trading	trading	NOUN
ajeer-236	496	6	is	be	AUX
ajeer-236	496	7	not	not	PART
ajeer-236	496	8	profitable	profitable	ADJ
ajeer-236	496	9	.	.	PUNCT
ajeer-236	497	1	table-20.1	table-20.1	NOUN
ajeer-236	497	2	.	.	PUNCT
ajeer-236	498	1	investment	investment	NOUN
ajeer-236	498	2	returns	return	NOUN
ajeer-236	498	3	of	of	ADP
ajeer-236	498	4	model	model	NOUN
ajeer-236	498	5	1	1	NUM
ajeer-236	498	6	,	,	PUNCT
ajeer-236	498	7	including	include	VERB
ajeer-236	498	8	u	u	NOUN
ajeer-236	498	9	-	-	ADJ
ajeer-236	498	10	ming	ming	ADJ
ajeer-236	498	11	marine	marine	PROPN
ajeer-236	498	12	as	as	ADP
ajeer-236	498	13	the	the	DET
ajeer-236	498	14	leading	lead	VERB
ajeer-236	498	15	company	company	NOUN
ajeer-236	498	16	(	(	PUNCT
ajeer-236	498	17	unit	unit	NOUN
ajeer-236	498	18	:	:	PUNCT
ajeer-236	498	19	$	$	SYM
ajeer-236	498	20	,	,	PUNCT
ajeer-236	498	21	times	time	NOUN
ajeer-236	498	22	,	,	PUNCT
ajeer-236	498	23	%	%	INTJ
ajeer-236	498	24	)	)	PUNCT
ajeer-236	498	25	company	company	NOUN
ajeer-236	498	26	code	code	NOUN
ajeer-236	498	27	2007.10.29	2007.10.29	PROPN
ajeer-236	498	28	-	-	SYM
ajeer-236	498	29	2014.10.29	2014.10.29	NUM
ajeer-236	498	30	2007.10.29	2007.10.29	NOUN
ajeer-236	498	31	-	-	PUNCT
ajeer-236	498	32	2017.8.10	2017.8.10	ADJ
ajeer-236	498	33	changes	change	NOUN
ajeer-236	498	34	in	in	ADP
ajeer-236	498	35	profits	profit	NOUN
ajeer-236	498	36	total	total	ADJ
ajeer-236	498	37	profits	profit	NOUN
ajeer-236	498	38	net	net	ADJ
ajeer-236	498	39	profit	profit	NOUN
ajeer-236	498	40	no	no	INTJ
ajeer-236	498	41	.	.	PUNCT
ajeer-236	498	42	of	of	ADP
ajeer-236	498	43	transactions	transaction	NOUN
ajeer-236	498	44	winning	win	VERB
ajeer-236	498	45	probability	probability	NOUN
ajeer-236	498	46	net	net	ADJ
ajeer-236	498	47	profit	profit	NOUN
ajeer-236	498	48	no	no	INTJ
ajeer-236	498	49	.	.	PUNCT
ajeer-236	498	50	of	of	ADP
ajeer-236	498	51	transactions	transaction	NOUN
ajeer-236	498	52	winning	win	VERB
ajeer-236	498	53	probability	probability	NOUN
ajeer-236	498	54	a1102	a1102	ADP
ajeer-236	498	55	17.7	17.7	NUM
ajeer-236	498	56	7	7	NUM
ajeer-236	498	57	100	100	NUM
ajeer-236	498	58	13.99	13.99	NUM
ajeer-236	498	59	7	7	NUM
ajeer-236	498	60	85	85	NUM
ajeer-236	498	61	-3.71	-3.71	NOUN
ajeer-236	498	62	-2.77	-2.77	NOUN
ajeer-236	498	63	a1402	a1402	ADP
ajeer-236	498	64	18.12	18.12	NUM
ajeer-236	498	65	4	4	NUM
ajeer-236	498	66	100	100	NUM
ajeer-236	498	67	19.7	19.7	NUM
ajeer-236	498	68	5	5	NUM
ajeer-236	498	69	100	100	NUM
ajeer-236	498	70	1.58	1.58	NUM
ajeer-236	498	71	a1460	a1460	VERB
ajeer-236	498	72	12.24	12.24	NUM
ajeer-236	498	73	3	3	NUM
ajeer-236	498	74	100	100	NUM
ajeer-236	498	75	13.13	13.13	NUM
ajeer-236	498	76	4	4	NUM
ajeer-236	498	77	100	100	NUM
ajeer-236	498	78	0.89	0.89	NUM
ajeer-236	498	79	a1710	a1710	NUM
ajeer-236	498	80	21.35	21.35	NUM
ajeer-236	498	81	15	15	NUM
ajeer-236	498	82	66	66	NUM
ajeer-236	498	83	20.2	20.2	NUM
ajeer-236	498	84	20	20	NUM
ajeer-236	498	85	55	55	NUM
ajeer-236	498	86	-1.15	-1.15	NOUN
ajeer-236	499	1	a2606	a2606	NOUN
ajeer-236	499	2	0	0	NUM
ajeer-236	500	1	a2845	a2845	NOUN
ajeer-236	500	2	4.18	4.18	NUM
ajeer-236	500	3	11	11	NUM
ajeer-236	500	4	72	72	NUM
ajeer-236	500	5	3.8	3.8	NUM
ajeer-236	500	6	13	13	NUM
ajeer-236	500	7	61	61	NUM
ajeer-236	500	8	-0.38	-0.38	ADP
ajeer-236	500	9	a2903	a2903	PROPN
ajeer-236	500	10	28.56	28.56	NUM
ajeer-236	500	11	4	4	NUM
ajeer-236	500	12	100	100	NUM
ajeer-236	500	13	28.56	28.56	NUM
ajeer-236	500	14	4	4	NUM
ajeer-236	500	15	100	100	NUM
ajeer-236	500	16	0	0	NUM
ajeer-236	500	17	a4904	a4904	NUM
ajeer-236	500	18	30.03	30.03	NUM
ajeer-236	500	19	2	2	NUM
ajeer-236	500	20	100	100	NUM
ajeer-236	500	21	30.03	30.03	NUM
ajeer-236	500	22	2	2	NUM
ajeer-236	500	23	100	100	NUM
ajeer-236	500	24	0	0	NUM
ajeer-236	500	25	note	note	NOUN
ajeer-236	500	26	:	:	PUNCT
ajeer-236	500	27	the	the	DET
ajeer-236	500	28	first	first	ADJ
ajeer-236	500	29	stage	stage	NOUN
ajeer-236	500	30	covers	cover	VERB
ajeer-236	500	31	the	the	DET
ajeer-236	500	32	period	period	NOUN
ajeer-236	500	33	2007.10.29~2014.10.29	2007.10.29~2014.10.29	NOUN
ajeer-236	500	34	.	.	PUNCT
ajeer-236	501	1	the	the	DET
ajeer-236	501	2	second	second	ADJ
ajeer-236	501	3	stage	stage	NOUN
ajeer-236	501	4	covers	cover	VERB
ajeer-236	501	5	the	the	DET
ajeer-236	501	6	period	period	NOUN
ajeer-236	501	7	2007.10.29~2017.8.10	2007.10.29~2017.8.10	NUM
ajeer-236	501	8	.	.	PUNCT
ajeer-236	502	1	changes	change	NOUN
ajeer-236	502	2	in	in	ADP
ajeer-236	502	3	profits	profit	NOUN
ajeer-236	502	4	cover	cover	VERB
ajeer-236	502	5	the	the	DET
ajeer-236	502	6	period	period	NOUN
ajeer-236	502	7	2014.10.29~2017.8.10	2014.10.29~2017.8.10	NUM
ajeer-236	502	8	.	.	PUNCT
ajeer-236	503	1	the	the	DET
ajeer-236	503	2	results	result	NOUN
ajeer-236	503	3	of	of	ADP
ajeer-236	503	4	model	model	NOUN
ajeer-236	503	5	2	2	NUM
ajeer-236	503	6	show	show	VERB
ajeer-236	503	7	that	that	SCONJ
ajeer-236	503	8	only	only	ADV
ajeer-236	503	9	one	one	NUM
ajeer-236	503	10	company	company	NOUN
ajeer-236	503	11	(	(	PUNCT
ajeer-236	503	12	u	u	NOUN
ajeer-236	503	13	-	-	ADJ
ajeer-236	503	14	ming	ming	ADJ
ajeer-236	503	15	marine	marine	PROPN
ajeer-236	503	16	)	)	PUNCT
ajeer-236	503	17	has	have	VERB
ajeer-236	503	18	an	an	DET
ajeer-236	503	19	increase	increase	NOUN
ajeer-236	503	20	in	in	ADP
ajeer-236	503	21	investment	investment	NOUN
ajeer-236	503	22	returns	return	NOUN
ajeer-236	503	23	in	in	ADP
ajeer-236	503	24	the	the	DET
ajeer-236	503	25	second	second	ADJ
ajeer-236	503	26	stage	stage	NOUN
ajeer-236	503	27	.	.	PUNCT
ajeer-236	504	1	the	the	DET
ajeer-236	504	2	portfolio	portfolio	NOUN
ajeer-236	504	3	formed	form	VERB
ajeer-236	504	4	by	by	ADP
ajeer-236	504	5	eight	eight	NUM
ajeer-236	504	6	companies	company	NOUN
ajeer-236	504	7	in	in	ADP
ajeer-236	504	8	the	the	DET
ajeer-236	504	9	far	far	ADV
ajeer-236	504	10	eastern	eastern	ADJ
ajeer-236	504	11	group	group	NOUN
ajeer-236	504	12	as	as	ADP
ajeer-236	504	13	a	a	DET
ajeer-236	504	14	whole	whole	NOUN
ajeer-236	504	15	is	be	AUX
ajeer-236	504	16	profitable	profitable	ADJ
ajeer-236	504	17	(	(	PUNCT
ajeer-236	504	18	table	table	NOUN
ajeer-236	504	19	20	20	NUM
ajeer-236	504	20	-	-	SYM
ajeer-236	504	21	2	2	NUM
ajeer-236	504	22	)	)	PUNCT
ajeer-236	504	23	.	.	PUNCT
ajeer-236	505	1	the	the	DET
ajeer-236	505	2	profit	profit	NOUN
ajeer-236	505	3	of	of	ADP
ajeer-236	505	4	the	the	DET
ajeer-236	505	5	investment	investment	NOUN
ajeer-236	505	6	portfolio	portfolio	NOUN
ajeer-236	505	7	in	in	ADP
ajeer-236	505	8	the	the	DET
ajeer-236	505	9	first	first	ADJ
ajeer-236	505	10	stage	stage	NOUN
ajeer-236	505	11	is	be	AUX
ajeer-236	505	12	$	$	SYM
ajeer-236	505	13	141.29	141.29	NUM
ajeer-236	505	14	and	and	CCONJ
ajeer-236	505	15	increases	increase	NOUN
ajeer-236	505	16	by	by	ADP
ajeer-236	505	17	$	$	SYM
ajeer-236	505	18	12.07	12.07	NUM
ajeer-236	505	19	(	(	PUNCT
ajeer-236	505	20	8.54	8.54	NUM
ajeer-236	505	21	%	%	NOUN
ajeer-236	505	22	)	)	PUNCT
ajeer-236	505	23	in	in	ADP
ajeer-236	505	24	the	the	DET
ajeer-236	505	25	second	second	ADJ
ajeer-236	505	26	stage	stage	NOUN
ajeer-236	505	27	.	.	PUNCT
ajeer-236	506	1	the	the	DET
ajeer-236	506	2	findings	finding	NOUN
ajeer-236	506	3	suggest	suggest	VERB
ajeer-236	506	4	that	that	SCONJ
ajeer-236	506	5	model	model	NOUN
ajeer-236	506	6	2	2	NUM
ajeer-236	506	7	with	with	ADP
ajeer-236	506	8	far	far	ADJ
ajeer-236	506	9	eastern	eastern	ADJ
ajeer-236	506	10	department	department	NOUN
ajeer-236	506	11	stores	store	NOUN
ajeer-236	506	12	as	as	SCONJ
ajeer-236	506	13	the	the	DET
ajeer-236	506	14	leading	lead	VERB
ajeer-236	506	15	company	company	NOUN
ajeer-236	506	16	is	be	AUX
ajeer-236	506	17	better	well	ADJ
ajeer-236	506	18	than	than	ADP
ajeer-236	506	19	model	model	NOUN
ajeer-236	506	20	1	1	NUM
ajeer-236	506	21	with	with	ADP
ajeer-236	506	22	u	u	ADJ
ajeer-236	506	23	-	-	ADJ
ajeer-236	506	24	ming	ming	ADJ
ajeer-236	506	25	marine	marine	PROPN
ajeer-236	506	26	as	as	ADP
ajeer-236	506	27	the	the	DET
ajeer-236	506	28	leading	lead	VERB
ajeer-236	506	29	company	company	NOUN
ajeer-236	506	30	.	.	PUNCT
ajeer-236	507	1	however	however	ADV
ajeer-236	507	2	,	,	PUNCT
ajeer-236	507	3	when	when	SCONJ
ajeer-236	507	4	u	u	NOUN
ajeer-236	507	5	-	-	ADJ
ajeer-236	507	6	ming	ming	ADJ
ajeer-236	507	7	marine	marine	NOUN
ajeer-236	507	8	is	be	AUX
ajeer-236	507	9	excluded	exclude	VERB
ajeer-236	507	10	from	from	ADP
ajeer-236	507	11	model	model	NOUN
ajeer-236	507	12	2	2	NUM
ajeer-236	507	13	,	,	PUNCT
ajeer-236	507	14	it	it	PRON
ajeer-236	507	15	becomes	become	VERB
ajeer-236	507	16	unprofitable	unprofitable	ADJ
ajeer-236	507	17	.	.	PUNCT
ajeer-236	508	1	therefore	therefore	ADV
ajeer-236	508	2	,	,	PUNCT
ajeer-236	508	3	the	the	DET
ajeer-236	508	4	results	result	NOUN
ajeer-236	508	5	from	from	ADP
ajeer-236	508	6	far	far	ADJ
ajeer-236	508	7	eastern	eastern	ADJ
ajeer-236	508	8	group	group	NOUN
ajeer-236	508	9	do	do	AUX
ajeer-236	508	10	not	not	PART
ajeer-236	508	11	support	support	VERB
ajeer-236	508	12	hypothesis	hypothesis	NOUN
ajeer-236	508	13	1	1	NUM
ajeer-236	508	14	or	or	CCONJ
ajeer-236	508	15	2	2	NUM
ajeer-236	508	16	.	.	PUNCT
ajeer-236	508	17	specifically	specifically	ADV
ajeer-236	508	18	,	,	PUNCT
ajeer-236	508	19	the	the	DET
ajeer-236	508	20	leading	lead	VERB
ajeer-236	508	21	company	company	NOUN
ajeer-236	508	22	of	of	ADP
ajeer-236	508	23	the	the	DET
ajeer-236	508	24	far	far	ADV
ajeer-236	508	25	eastern	eastern	ADJ
ajeer-236	508	26	group	group	NOUN
ajeer-236	508	27	is	be	AUX
ajeer-236	508	28	not	not	PART
ajeer-236	508	29	useful	useful	ADJ
ajeer-236	508	30	for	for	ADP
ajeer-236	508	31	enhancing	enhance	VERB
ajeer-236	508	32	the	the	DET
ajeer-236	508	33	profits	profit	NOUN
ajeer-236	508	34	.	.	PUNCT
ajeer-236	509	1	the	the	DET
ajeer-236	509	2	program	program	NOUN
ajeer-236	509	3	trading	trading	NOUN
ajeer-236	509	4	simulation	simulation	NOUN
ajeer-236	509	5	results	result	NOUN
ajeer-236	509	6	also	also	ADV
ajeer-236	509	7	suggest	suggest	VERB
ajeer-236	509	8	that	that	SCONJ
ajeer-236	509	9	the	the	DET
ajeer-236	509	10	diversification	diversification	NOUN
ajeer-236	509	11	strategy	strategy	NOUN
ajeer-236	509	12	of	of	ADP
ajeer-236	509	13	the	the	DET
ajeer-236	509	14	far	far	ADV
ajeer-236	509	15	eastern	eastern	ADJ
ajeer-236	509	16	group	group	NOUN
ajeer-236	509	17	is	be	AUX
ajeer-236	509	18	not	not	PART
ajeer-236	509	19	as	as	ADV
ajeer-236	509	20	good	good	ADJ
ajeer-236	509	21	as	as	ADP
ajeer-236	509	22	the	the	DET
ajeer-236	509	23	vertical	vertical	ADJ
ajeer-236	509	24	integration	integration	NOUN
ajeer-236	509	25	strategy	strategy	NOUN
ajeer-236	509	26	of	of	ADP
ajeer-236	509	27	the	the	DET
ajeer-236	509	28	formosa	formosa	PROPN
ajeer-236	509	29	plastics	plastic	NOUN
ajeer-236	509	30	group	group	NOUN
ajeer-236	509	31	.	.	PUNCT
ajeer-236	510	1	therefore	therefore	ADV
ajeer-236	510	2	,	,	PUNCT
ajeer-236	510	3	when	when	SCONJ
ajeer-236	510	4	investors	investor	NOUN
ajeer-236	510	5	are	be	AUX
ajeer-236	510	6	choosing	choose	VERB
ajeer-236	510	7	a	a	DET
ajeer-236	510	8	business	business	NOUN
ajeer-236	510	9	group	group	NOUN
ajeer-236	510	10	for	for	ADP
ajeer-236	510	11	investing	invest	VERB
ajeer-236	510	12	based	base	VERB
ajeer-236	510	13	on	on	ADP
ajeer-236	510	14	herding	herd	VERB
ajeer-236	510	15	effect	effect	NOUN
ajeer-236	510	16	,	,	PUNCT
ajeer-236	510	17	they	they	PRON
ajeer-236	510	18	should	should	AUX
ajeer-236	510	19	choose	choose	VERB
ajeer-236	510	20	carefully.9	carefully.9	PROPN
ajeer-236	510	21	table-20.2	table-20.2	PROPN
ajeer-236	510	22	.	.	PUNCT
ajeer-236	511	1	investment	investment	NOUN
ajeer-236	511	2	returns	return	NOUN
ajeer-236	511	3	of	of	ADP
ajeer-236	511	4	model	model	NOUN
ajeer-236	511	5	2	2	NUM
ajeer-236	511	6	,	,	PUNCT
ajeer-236	511	7	including	include	VERB
ajeer-236	511	8	far	far	ADJ
ajeer-236	511	9	eastern	eastern	ADJ
ajeer-236	511	10	department	department	NOUN
ajeer-236	511	11	stores	store	NOUN
ajeer-236	511	12	as	as	ADP
ajeer-236	511	13	the	the	DET
ajeer-236	511	14	leading	lead	VERB
ajeer-236	511	15	company	company	NOUN
ajeer-236	511	16	(	(	PUNCT
ajeer-236	511	17	unit	unit	NOUN
ajeer-236	511	18	:	:	PUNCT
ajeer-236	511	19	$	$	SYM
ajeer-236	511	20	,	,	PUNCT
ajeer-236	511	21	times	time	NOUN
ajeer-236	511	22	,	,	PUNCT
ajeer-236	511	23	%	%	INTJ
ajeer-236	511	24	)	)	PUNCT
ajeer-236	511	25	company	company	NOUN
ajeer-236	511	26	code	code	NOUN
ajeer-236	511	27	2007.10.29	2007.10.29	PROPN
ajeer-236	511	28	-	-	SYM
ajeer-236	511	29	2014.10.29	2014.10.29	NUM
ajeer-236	511	30	2007.10.29	2007.10.29	NOUN
ajeer-236	511	31	-	-	PUNCT
ajeer-236	511	32	2017.8.10	2017.8.10	ADJ
ajeer-236	511	33	changes	change	NOUN
ajeer-236	511	34	in	in	ADP
ajeer-236	511	35	profits	profit	NOUN
ajeer-236	511	36	total	total	ADJ
ajeer-236	511	37	profits	profit	NOUN
ajeer-236	511	38	net	net	ADJ
ajeer-236	511	39	profit	profit	NOUN
ajeer-236	511	40	no	no	INTJ
ajeer-236	511	41	.	.	PUNCT
ajeer-236	511	42	of	of	ADP
ajeer-236	511	43	transactions	transaction	NOUN
ajeer-236	511	44	winning	win	VERB
ajeer-236	511	45	probability	probability	NOUN
ajeer-236	511	46	net	net	ADJ
ajeer-236	511	47	profit	profit	NOUN
ajeer-236	511	48	no	no	INTJ
ajeer-236	511	49	.	.	PUNCT
ajeer-236	511	50	of	of	ADP
ajeer-236	511	51	transactions	transaction	NOUN
ajeer-236	511	52	winning	win	VERB
ajeer-236	511	53	probability	probability	NOUN
ajeer-236	511	54	a1102	a1102	ADP
ajeer-236	511	55	26.89	26.89	NUM
ajeer-236	511	56	2	2	NUM
ajeer-236	511	57	100	100	NUM
ajeer-236	511	58	26.89	26.89	NUM
ajeer-236	511	59	2	2	NUM
ajeer-236	511	60	30	30	NUM
ajeer-236	511	61	0	0	NUM
ajeer-236	511	62	12.07	12.07	NUM
ajeer-236	511	63	a1402	a1402	ADP
ajeer-236	511	64	18.52	18.52	NUM
ajeer-236	511	65	9	9	NUM
ajeer-236	511	66	66	66	NUM
ajeer-236	511	67	15.83	15.83	NUM
ajeer-236	511	68	11	11	NUM
ajeer-236	511	69	63	63	NUM
ajeer-236	511	70	-2.69	-2.69	NOUN
ajeer-236	511	71	a1460	a1460	VERB
ajeer-236	511	72	11.11	11.11	NUM
ajeer-236	511	73	1	1	NUM
ajeer-236	511	74	100	100	NUM
ajeer-236	511	75	11.11	11.11	NUM
ajeer-236	511	76	1	1	NUM
ajeer-236	511	77	100	100	NUM
ajeer-236	511	78	0	0	NUM
ajeer-236	512	1	a1710	a1710	NUM
ajeer-236	512	2	17.36	17.36	NUM
ajeer-236	512	3	3	3	NUM
ajeer-236	512	4	100	100	NUM
ajeer-236	512	5	17.36	17.36	NUM
ajeer-236	512	6	3	3	NUM
ajeer-236	512	7	100	100	NUM
ajeer-236	512	8	0	0	NUM
ajeer-236	513	1	a2606	a2606	NOUN
ajeer-236	513	2	56.83	56.83	NUM
ajeer-236	513	3	3	3	NUM
ajeer-236	513	4	100	100	NUM
ajeer-236	513	5	72.77	72.77	NUM
ajeer-236	513	6	4	4	NUM
ajeer-236	513	7	100	100	NUM
ajeer-236	513	8	15.94	15.94	NUM
ajeer-236	513	9	a2845	a2845	PROPN
ajeer-236	513	10	4.04	4.04	NUM
ajeer-236	513	11	6	6	NUM
ajeer-236	513	12	50	50	NUM
ajeer-236	513	13	4.04	4.04	NUM
ajeer-236	513	14	6	6	NUM
ajeer-236	513	15	50	50	NUM
ajeer-236	513	16	0	0	NUM
ajeer-236	514	1	a2903	a2903	NOUN
ajeer-236	514	2	0	0	NUM
ajeer-236	514	3	0	0	NUM
ajeer-236	514	4	0	0	NUM
ajeer-236	515	1	a4904	a4904	CCONJ
ajeer-236	515	2	6.54	6.54	NUM
ajeer-236	515	3	2	2	NUM
ajeer-236	515	4	100	100	NUM
ajeer-236	515	5	5.36	5.36	NUM
ajeer-236	515	6	3	3	NUM
ajeer-236	515	7	66	66	NUM
ajeer-236	515	8	-1.18	-1.18	ADJ
ajeer-236	515	9	9this	9this	NUM
ajeer-236	515	10	study	study	NOUN
ajeer-236	515	11	has	have	AUX
ajeer-236	515	12	tried	try	VERB
ajeer-236	515	13	using	use	VERB
ajeer-236	515	14	taiwan	taiwan	PROPN
ajeer-236	515	15	mid	mid	ADV
ajeer-236	515	16	100	100	NUM
ajeer-236	515	17	in	in	ADP
ajeer-236	515	18	the	the	DET
ajeer-236	515	19	model	model	NOUN
ajeer-236	515	20	instead	instead	ADV
ajeer-236	515	21	of	of	ADP
ajeer-236	515	22	taiwan	taiwan	PROPN
ajeer-236	515	23	50	50	NUM
ajeer-236	515	24	.	.	PUNCT
ajeer-236	516	1	however	however	ADV
ajeer-236	516	2	,	,	PUNCT
ajeer-236	516	3	the	the	DET
ajeer-236	516	4	sum	sum	NOUN
ajeer-236	516	5	of	of	ADP
ajeer-236	516	6	α	α	PROPN
ajeer-236	516	7	(	(	PUNCT
ajeer-236	516	8	1.4335	1.4335	NUM
ajeer-236	516	9	)	)	PUNCT
ajeer-236	516	10	and	and	CCONJ
ajeer-236	516	11	γ	γ	X
ajeer-236	516	12	(	(	PUNCT
ajeer-236	516	13	0.4867	0.4867	NUM
ajeer-236	516	14	)	)	PUNCT
ajeer-236	516	15	is	be	AUX
ajeer-236	516	16	greater	great	ADJ
ajeer-236	516	17	than	than	ADP
ajeer-236	516	18	1	1	NUM
ajeer-236	516	19	,	,	PUNCT
ajeer-236	516	20	suggesting	suggest	VERB
ajeer-236	516	21	that	that	SCONJ
ajeer-236	516	22	this	this	DET
ajeer-236	516	23	model	model	NOUN
ajeer-236	516	24	is	be	AUX
ajeer-236	516	25	not	not	PART
ajeer-236	516	26	stationary	stationary	ADJ
ajeer-236	516	27	.	.	PUNCT
ajeer-236	517	1	the	the	DET
ajeer-236	517	2	program	program	NOUN
ajeer-236	517	3	trading	trading	NOUN
ajeer-236	517	4	simulation	simulation	NOUN
ajeer-236	517	5	also	also	ADV
ajeer-236	517	6	leads	lead	VERB
ajeer-236	517	7	to	to	ADP
ajeer-236	517	8	similar	similar	ADJ
ajeer-236	517	9	conclusion	conclusion	NOUN
ajeer-236	517	10	.	.	PUNCT
ajeer-236	518	1	therefore	therefore	ADV
ajeer-236	518	2	,	,	PUNCT
ajeer-236	518	3	due	due	ADP
ajeer-236	518	4	to	to	ADP
ajeer-236	518	5	page	page	NOUN
ajeer-236	518	6	limit	limit	NOUN
ajeer-236	518	7	,	,	PUNCT
ajeer-236	518	8	the	the	DET
ajeer-236	518	9	test	test	NOUN
ajeer-236	518	10	results	result	NOUN
ajeer-236	518	11	are	be	AUX
ajeer-236	518	12	not	not	PART
ajeer-236	518	13	provided	provide	VERB
ajeer-236	518	14	here	here	ADV
ajeer-236	518	15	.	.	PUNCT
ajeer-236	519	1	asian	asian	ADJ
ajeer-236	519	2	journal	journal	PROPN
ajeer-236	519	3	of	of	ADP
ajeer-236	519	4	economics	economic	NOUN
ajeer-236	519	5	and	and	CCONJ
ajeer-236	519	6	empirical	empirical	ADJ
ajeer-236	519	7	research	research	NOUN
ajeer-236	519	8	,	,	PUNCT
ajeer-236	519	9	2017	2017	NUM
ajeer-236	519	10	,	,	PUNCT
ajeer-236	519	11	4(2	4(2	NUM
ajeer-236	519	12	):	):	PUNCT
ajeer-236	519	13	106	106	NUM
ajeer-236	519	14	-	-	SYM
ajeer-236	519	15	120	120	NUM
ajeer-236	519	16	119	119	NUM
ajeer-236	519	17	7	7	NUM
ajeer-236	519	18	.	.	PUNCT
ajeer-236	519	19	conclusion	conclusion	NOUN
ajeer-236	519	20	and	and	CCONJ
ajeer-236	519	21	discussion	discussion	NOUN
ajeer-236	519	22	on	on	ADP
ajeer-236	519	23	investment	investment	NOUN
ajeer-236	519	24	strategies	strategy	NOUN
ajeer-236	519	25	the	the	DET
ajeer-236	519	26	aim	aim	NOUN
ajeer-236	519	27	of	of	ADP
ajeer-236	519	28	this	this	DET
ajeer-236	519	29	study	study	NOUN
ajeer-236	519	30	is	be	AUX
ajeer-236	519	31	to	to	PART
ajeer-236	519	32	examine	examine	VERB
ajeer-236	519	33	the	the	DET
ajeer-236	519	34	difference	difference	NOUN
ajeer-236	519	35	in	in	ADP
ajeer-236	519	36	operating	operating	NOUN
ajeer-236	519	37	performance	performance	NOUN
ajeer-236	519	38	for	for	ADP
ajeer-236	519	39	two	two	NUM
ajeer-236	519	40	family	family	NOUN
ajeer-236	519	41	business	business	NOUN
ajeer-236	519	42	groups	group	NOUN
ajeer-236	519	43	,	,	PUNCT
ajeer-236	519	44	formosa	formosa	PROPN
ajeer-236	519	45	plastics	plastic	NOUN
ajeer-236	519	46	group	group	NOUN
ajeer-236	519	47	and	and	CCONJ
ajeer-236	519	48	far	far	ADV
ajeer-236	519	49	eastern	eastern	ADJ
ajeer-236	519	50	group	group	NOUN
ajeer-236	519	51	,	,	PUNCT
ajeer-236	519	52	after	after	ADP
ajeer-236	519	53	the	the	DET
ajeer-236	519	54	impact	impact	NOUN
ajeer-236	519	55	of	of	ADP
ajeer-236	519	56	financial	financial	ADJ
ajeer-236	519	57	tsunami	tsunami	NOUN
ajeer-236	519	58	(	(	PUNCT
ajeer-236	519	59	2007.10.29~2017.08.10	2007.10.29~2017.08.10	NOUN
ajeer-236	519	60	)	)	PUNCT
ajeer-236	519	61	.	.	PUNCT
ajeer-236	520	1	this	this	DET
ajeer-236	520	2	research	research	NOUN
ajeer-236	520	3	helps	help	VERB
ajeer-236	520	4	investors	investor	NOUN
ajeer-236	520	5	understand	understand	VERB
ajeer-236	520	6	the	the	DET
ajeer-236	520	7	operating	operating	NOUN
ajeer-236	520	8	model	model	NOUN
ajeer-236	520	9	of	of	ADP
ajeer-236	520	10	business	business	NOUN
ajeer-236	520	11	groups	group	NOUN
ajeer-236	520	12	and	and	CCONJ
ajeer-236	520	13	learn	learn	VERB
ajeer-236	520	14	how	how	SCONJ
ajeer-236	520	15	to	to	PART
ajeer-236	520	16	use	use	VERB
ajeer-236	520	17	the	the	DET
ajeer-236	520	18	herding	herding	NOUN
ajeer-236	520	19	effect	effect	NOUN
ajeer-236	520	20	of	of	ADP
ajeer-236	520	21	business	business	NOUN
ajeer-236	520	22	groups	group	NOUN
ajeer-236	520	23	to	to	PART
ajeer-236	520	24	enhance	enhance	VERB
ajeer-236	520	25	their	their	PRON
ajeer-236	520	26	trading	trading	NOUN
ajeer-236	520	27	performance	performance	NOUN
ajeer-236	520	28	in	in	ADP
ajeer-236	520	29	financial	financial	ADJ
ajeer-236	520	30	markets	market	NOUN
ajeer-236	520	31	.	.	PUNCT
ajeer-236	521	1	the	the	DET
ajeer-236	521	2	results	result	NOUN
ajeer-236	521	3	show	show	VERB
ajeer-236	521	4	that	that	SCONJ
ajeer-236	521	5	for	for	ADP
ajeer-236	521	6	the	the	DET
ajeer-236	521	7	formosa	formosa	PROPN
ajeer-236	521	8	plastics	plastic	NOUN
ajeer-236	521	9	group	group	NOUN
ajeer-236	521	10	,	,	PUNCT
ajeer-236	521	11	the	the	DET
ajeer-236	521	12	news	news	NOUN
ajeer-236	521	13	impact	impact	NOUN
ajeer-236	521	14	curve	curve	NOUN
ajeer-236	521	15	(	(	PUNCT
ajeer-236	521	16	based	base	VERB
ajeer-236	521	17	on	on	ADP
ajeer-236	521	18	egarch	egarch	PROPN
ajeer-236	521	19	model	model	NOUN
ajeer-236	521	20	)	)	PUNCT
ajeer-236	521	21	including	include	VERB
ajeer-236	521	22	the	the	DET
ajeer-236	521	23	leading	lead	VERB
ajeer-236	521	24	company	company	NOUN
ajeer-236	521	25	is	be	AUX
ajeer-236	521	26	flatter	flat	ADJ
ajeer-236	521	27	than	than	ADP
ajeer-236	521	28	when	when	SCONJ
ajeer-236	521	29	the	the	DET
ajeer-236	521	30	news	news	NOUN
ajeer-236	521	31	impact	impact	NOUN
ajeer-236	521	32	curve	curve	NOUN
ajeer-236	521	33	excludes	exclude	VERB
ajeer-236	521	34	the	the	DET
ajeer-236	521	35	leading	lead	VERB
ajeer-236	521	36	company	company	NOUN
ajeer-236	521	37	.	.	PUNCT
ajeer-236	522	1	in	in	ADP
ajeer-236	522	2	contrast	contrast	NOUN
ajeer-236	522	3	,	,	PUNCT
ajeer-236	522	4	the	the	DET
ajeer-236	522	5	news	news	NOUN
ajeer-236	522	6	impact	impact	NOUN
ajeer-236	522	7	curve	curve	NOUN
ajeer-236	522	8	of	of	ADP
ajeer-236	522	9	the	the	DET
ajeer-236	522	10	far	far	ADV
ajeer-236	522	11	eastern	eastern	ADJ
ajeer-236	522	12	group	group	NOUN
ajeer-236	522	13	is	be	AUX
ajeer-236	522	14	steeper	steep	ADJ
ajeer-236	522	15	when	when	SCONJ
ajeer-236	522	16	the	the	DET
ajeer-236	522	17	leading	lead	VERB
ajeer-236	522	18	company	company	NOUN
ajeer-236	522	19	is	be	AUX
ajeer-236	522	20	included	include	VERB
ajeer-236	522	21	.	.	PUNCT
ajeer-236	523	1	moreover	moreover	ADV
ajeer-236	523	2	,	,	PUNCT
ajeer-236	523	3	when	when	SCONJ
ajeer-236	523	4	the	the	DET
ajeer-236	523	5	leading	lead	VERB
ajeer-236	523	6	company	company	NOUN
ajeer-236	523	7	is	be	AUX
ajeer-236	523	8	include	include	VERB
ajeer-236	523	9	as	as	ADP
ajeer-236	523	10	an	an	DET
ajeer-236	523	11	endogeneous	endogeneous	ADJ
ajeer-236	523	12	variable	variable	NOUN
ajeer-236	523	13	in	in	ADP
ajeer-236	523	14	the	the	DET
ajeer-236	523	15	model	model	NOUN
ajeer-236	523	16	as	as	ADP
ajeer-236	523	17	a	a	DET
ajeer-236	523	18	filter	filter	NOUN
ajeer-236	523	19	for	for	ADP
ajeer-236	523	20	the	the	DET
ajeer-236	523	21	program	program	NOUN
ajeer-236	523	22	trading	trading	NOUN
ajeer-236	523	23	simulation	simulation	NOUN
ajeer-236	523	24	,	,	PUNCT
ajeer-236	523	25	the	the	DET
ajeer-236	523	26	net	net	ADJ
ajeer-236	523	27	profits	profit	NOUN
ajeer-236	523	28	for	for	ADP
ajeer-236	523	29	the	the	DET
ajeer-236	523	30	first	first	ADJ
ajeer-236	523	31	stage	stage	NOUN
ajeer-236	523	32	(	(	PUNCT
ajeer-236	523	33	2007.10.29~2014.12.29	2007.10.29~2014.12.29	NOUN
ajeer-236	523	34	)	)	PUNCT
ajeer-236	523	35	and	and	CCONJ
ajeer-236	523	36	the	the	DET
ajeer-236	523	37	second	second	ADJ
ajeer-236	523	38	stage	stage	NOUN
ajeer-236	523	39	(	(	PUNCT
ajeer-236	523	40	2007.10.29~2017.08.10	2007.10.29~2017.08.10	NOUN
ajeer-236	523	41	)	)	PUNCT
ajeer-236	523	42	are	be	AUX
ajeer-236	523	43	12.49	12.49	NUM
ajeer-236	523	44	%	%	NOUN
ajeer-236	523	45	and	and	CCONJ
ajeer-236	523	46	-0.02	-0.02	NUM
ajeer-236	523	47	%	%	NOUN
ajeer-236	523	48	,	,	PUNCT
ajeer-236	523	49	respectively	respectively	ADV
ajeer-236	523	50	.	.	PUNCT
ajeer-236	524	1	therefore	therefore	ADV
ajeer-236	524	2	,	,	PUNCT
ajeer-236	524	3	this	this	DET
ajeer-236	524	4	program	program	NOUN
ajeer-236	524	5	trading	trading	NOUN
ajeer-236	524	6	of	of	ADP
ajeer-236	524	7	the	the	DET
ajeer-236	524	8	formosa	formosa	PROPN
ajeer-236	524	9	plastics	plastic	NOUN
ajeer-236	524	10	group	group	NOUN
ajeer-236	524	11	can	can	AUX
ajeer-236	524	12	lead	lead	VERB
ajeer-236	524	13	to	to	ADP
ajeer-236	524	14	trading	trading	NOUN
ajeer-236	524	15	profits	profit	NOUN
ajeer-236	524	16	.	.	PUNCT
ajeer-236	525	1	in	in	ADP
ajeer-236	525	2	sum	sum	NOUN
ajeer-236	525	3	,	,	PUNCT
ajeer-236	525	4	business	business	NOUN
ajeer-236	525	5	groups	group	NOUN
ajeer-236	525	6	that	that	PRON
ajeer-236	525	7	include	include	VERB
ajeer-236	525	8	the	the	DET
ajeer-236	525	9	leading	lead	VERB
ajeer-236	525	10	company	company	NOUN
ajeer-236	525	11	have	have	VERB
ajeer-236	525	12	lower	low	ADJ
ajeer-236	525	13	risks	risk	NOUN
ajeer-236	525	14	.	.	PUNCT
ajeer-236	526	1	it	it	PRON
ajeer-236	526	2	is	be	AUX
ajeer-236	526	3	also	also	ADV
ajeer-236	526	4	beneficial	beneficial	ADJ
ajeer-236	526	5	to	to	ADP
ajeer-236	526	6	the	the	DET
ajeer-236	526	7	stability	stability	NOUN
ajeer-236	526	8	of	of	ADP
ajeer-236	526	9	the	the	DET
ajeer-236	526	10	market	market	NOUN
ajeer-236	526	11	trading	trading	NOUN
ajeer-236	526	12	by	by	ADP
ajeer-236	526	13	incorporating	incorporate	VERB
ajeer-236	526	14	the	the	DET
ajeer-236	526	15	leverage	leverage	NOUN
ajeer-236	526	16	effect	effect	NOUN
ajeer-236	526	17	of	of	ADP
ajeer-236	526	18	the	the	DET
ajeer-236	526	19	leading	lead	VERB
ajeer-236	526	20	company	company	NOUN
ajeer-236	526	21	in	in	ADP
ajeer-236	526	22	business	business	NOUN
ajeer-236	526	23	groups	group	NOUN
ajeer-236	526	24	.	.	PUNCT
ajeer-236	527	1	the	the	DET
ajeer-236	527	2	results	result	NOUN
ajeer-236	527	3	show	show	VERB
ajeer-236	527	4	that	that	SCONJ
ajeer-236	527	5	the	the	DET
ajeer-236	527	6	far	far	ADV
ajeer-236	527	7	eastern	eastern	ADJ
ajeer-236	527	8	group	group	NOUN
ajeer-236	527	9	does	do	AUX
ajeer-236	527	10	not	not	PART
ajeer-236	527	11	support	support	VERB
ajeer-236	527	12	hypothesis	hypothesis	NOUN
ajeer-236	527	13	1	1	NUM
ajeer-236	527	14	or	or	CCONJ
ajeer-236	527	15	hypothesis	hypothesis	NOUN
ajeer-236	527	16	2	2	NUM
ajeer-236	527	17	.	.	PUNCT
ajeer-236	528	1	in	in	ADP
ajeer-236	528	2	other	other	ADJ
ajeer-236	528	3	words	word	NOUN
ajeer-236	528	4	,	,	PUNCT
ajeer-236	528	5	the	the	DET
ajeer-236	528	6	leading	lead	VERB
ajeer-236	528	7	company	company	NOUN
ajeer-236	528	8	of	of	ADP
ajeer-236	528	9	the	the	DET
ajeer-236	528	10	far	far	ADV
ajeer-236	528	11	eastern	eastern	ADJ
ajeer-236	528	12	group	group	NOUN
ajeer-236	528	13	does	do	AUX
ajeer-236	528	14	not	not	PART
ajeer-236	528	15	have	have	VERB
ajeer-236	528	16	such	such	DET
ajeer-236	528	17	an	an	DET
ajeer-236	528	18	effect	effect	NOUN
ajeer-236	528	19	.	.	PUNCT
ajeer-236	529	1	the	the	DET
ajeer-236	529	2	absolute	absolute	ADJ
ajeer-236	529	3	profits	profit	NOUN
ajeer-236	529	4	and	and	CCONJ
ajeer-236	529	5	the	the	DET
ajeer-236	529	6	increment	increment	NOUN
ajeer-236	529	7	of	of	ADP
ajeer-236	529	8	performance	performance	NOUN
ajeer-236	529	9	are	be	AUX
ajeer-236	529	10	both	both	ADV
ajeer-236	529	11	lower	low	ADJ
ajeer-236	529	12	than	than	ADP
ajeer-236	529	13	that	that	PRON
ajeer-236	529	14	of	of	ADP
ajeer-236	529	15	the	the	DET
ajeer-236	529	16	formosa	formosa	PROPN
ajeer-236	529	17	plastics	plastic	NOUN
ajeer-236	529	18	group	group	NOUN
ajeer-236	529	19	.	.	PUNCT
ajeer-236	530	1	therefore	therefore	ADV
ajeer-236	530	2	,	,	PUNCT
ajeer-236	530	3	the	the	DET
ajeer-236	530	4	diversification	diversification	NOUN
ajeer-236	530	5	strategy	strategy	NOUN
ajeer-236	530	6	of	of	ADP
ajeer-236	530	7	the	the	DET
ajeer-236	530	8	far	far	ADV
ajeer-236	530	9	eastern	eastern	ADJ
ajeer-236	530	10	group	group	NOUN
ajeer-236	530	11	is	be	AUX
ajeer-236	530	12	worse	bad	ADJ
ajeer-236	530	13	than	than	ADP
ajeer-236	530	14	the	the	DET
ajeer-236	530	15	vertical	vertical	ADJ
ajeer-236	530	16	integration	integration	NOUN
ajeer-236	530	17	strategy	strategy	NOUN
ajeer-236	530	18	of	of	ADP
ajeer-236	530	19	formosa	formosa	PROPN
ajeer-236	530	20	plastics	plastic	NOUN
ajeer-236	530	21	group	group	NOUN
ajeer-236	530	22	.	.	PUNCT
ajeer-236	531	1	investors	investor	NOUN
ajeer-236	531	2	should	should	AUX
ajeer-236	531	3	carefully	carefully	ADV
ajeer-236	531	4	choose	choose	VERB
ajeer-236	531	5	the	the	DET
ajeer-236	531	6	business	business	NOUN
ajeer-236	531	7	group	group	NOUN
ajeer-236	531	8	for	for	ADP
ajeer-236	531	9	investment	investment	NOUN
ajeer-236	531	10	if	if	SCONJ
ajeer-236	531	11	they	they	PRON
ajeer-236	531	12	are	be	AUX
ajeer-236	531	13	to	to	PART
ajeer-236	531	14	utilize	utilize	VERB
ajeer-236	531	15	the	the	DET
ajeer-236	531	16	herding	herding	NOUN
ajeer-236	531	17	effect	effect	NOUN
ajeer-236	531	18	in	in	ADP
ajeer-236	531	19	investment	investment	NOUN
ajeer-236	531	20	.	.	PUNCT
ajeer-236	532	1	due	due	ADP
ajeer-236	532	2	to	to	ADP
ajeer-236	532	3	the	the	DET
ajeer-236	532	4	space	space	NOUN
ajeer-236	532	5	and	and	CCONJ
ajeer-236	532	6	time	time	NOUN
ajeer-236	532	7	limit	limit	NOUN
ajeer-236	532	8	,	,	PUNCT
ajeer-236	532	9	future	future	ADJ
ajeer-236	532	10	research	research	NOUN
ajeer-236	532	11	could	could	AUX
ajeer-236	532	12	study	study	VERB
ajeer-236	532	13	other	other	ADJ
ajeer-236	532	14	family	family	NOUN
ajeer-236	532	15	business	business	NOUN
ajeer-236	532	16	groups	group	NOUN
ajeer-236	532	17	in	in	ADP
ajeer-236	532	18	taiwan	taiwan	PROPN
ajeer-236	532	19	and	and	CCONJ
ajeer-236	532	20	conduct	conduct	VERB
ajeer-236	532	21	their	their	PRON
ajeer-236	532	22	optimal	optimal	ADJ
ajeer-236	532	23	back	back	NOUN
ajeer-236	532	24	testing	testing	NOUN
ajeer-236	532	25	simulations	simulation	NOUN
ajeer-236	532	26	.	.	PUNCT
ajeer-236	533	1	references	reference	NOUN
ajeer-236	533	2	alanyali	alanyali	PROPN
ajeer-236	533	3	,	,	PUNCT
ajeer-236	533	4	m.	m.	NOUN
ajeer-236	533	5	,	,	PUNCT
ajeer-236	533	6	h.s	h.s	PROPN
ajeer-236	533	7	.	.	PROPN
ajeer-236	533	8	moat	moat	PROPN
ajeer-236	533	9	and	and	CCONJ
ajeer-236	533	10	t.	t.	PROPN
ajeer-236	533	11	preis	preis	PROPN
ajeer-236	533	12	,	,	PUNCT
ajeer-236	533	13	2013	2013	NUM
ajeer-236	533	14	.	.	PUNCT
ajeer-236	534	1	quantifying	quantify	VERB
ajeer-236	534	2	the	the	DET
ajeer-236	534	3	relationship	relationship	NOUN
ajeer-236	534	4	between	between	ADP
ajeer-236	534	5	financial	financial	ADJ
ajeer-236	534	6	news	news	NOUN
ajeer-236	534	7	and	and	CCONJ
ajeer-236	534	8	the	the	DET
ajeer-236	534	9	stock	stock	NOUN
ajeer-236	534	10	market	market	NOUN
ajeer-236	534	11	.	.	PUNCT
ajeer-236	535	1	scienti	scienti	PROPN
ajeer-236	535	2	fic	fic	PROPN
ajeer-236	535	3	reports	report	NOUN
ajeer-236	535	4	,	,	PUNCT
ajeer-236	535	5	3	3	NUM
ajeer-236	535	6	:	:	SYM
ajeer-236	535	7	3578	3578	NUM
ajeer-236	535	8	.	.	PUNCT
ajeer-236	536	1	view	view	NOUN
ajeer-236	536	2	at	at	ADP
ajeer-236	536	3	google	google	PROPN
ajeer-236	536	4	scholar	scholar	NOUN
ajeer-236	536	5	|	|	ADV
ajeer-236	536	6	view	view	NOUN
ajeer-236	536	7	at	at	ADP
ajeer-236	536	8	publisher	publisher	NOUN
ajeer-236	536	9	bachelier	bachelier	NOUN
ajeer-236	536	10	,	,	PUNCT
ajeer-236	536	11	l.	l.	PROPN
ajeer-236	536	12	,	,	PUNCT
ajeer-236	536	13	1900	1900	NUM
ajeer-236	536	14	.	.	PUNCT
ajeer-236	537	1	theory	theory	NOUN
ajeer-236	537	2	of	of	ADP
ajeer-236	537	3	speculation	speculation	NOUN
ajeer-236	537	4	.	.	PUNCT
ajeer-236	538	1	in	in	ADP
ajeer-236	538	2	p.	p.	PROPN
ajeer-236	538	3	h.	h.	PROPN
ajeer-236	538	4	cottner	cottner	PROPN
ajeer-236	538	5	(	(	PUNCT
ajeer-236	538	6	ed	ed	NOUN
ajeer-236	538	7	.	.	PUNCT
ajeer-236	538	8	)	)	PUNCT
ajeer-236	538	9	,	,	PUNCT
ajeer-236	538	10	the	the	DET
ajeer-236	538	11	random	random	ADJ
ajeer-236	538	12	character	character	NOUN
ajeer-236	538	13	of	of	ADP
ajeer-236	538	14	stock	stock	NOUN
ajeer-236	538	15	market	market	NOUN
ajeer-236	538	16	prices	price	NOUN
ajeer-236	538	17	.	.	PUNCT
ajeer-236	539	1	mit	mit	PROPN
ajeer-236	539	2	press	press	NOUN
ajeer-236	539	3	.	.	PUNCT
ajeer-236	540	1	pp	pp	ADP
ajeer-236	540	2	:	:	PUNCT
ajeer-236	540	3	17	17	NUM
ajeer-236	540	4	-	-	SYM
ajeer-236	540	5	78	78	NUM
ajeer-236	540	6	.	.	PUNCT
ajeer-236	540	7	baek	baek	NOUN
ajeer-236	540	8	,	,	PUNCT
ajeer-236	540	9	j.-s	j.-s	PROPN
ajeer-236	540	10	.	.	PUNCT
ajeer-236	541	1	and	and	CCONJ
ajeer-236	541	2	j.-k	j.-k	PROPN
ajeer-236	541	3	.	.	PUNCT
ajeer-236	542	1	kang	kang	PROPN
ajeer-236	542	2	,	,	PUNCT
ajeer-236	542	3	2004	2004	NUM
ajeer-236	542	4	.	.	PUNCT
ajeer-236	543	1	corporate	corporate	ADJ
ajeer-236	543	2	governance	governance	NOUN
ajeer-236	543	3	and	and	CCONJ
ajeer-236	543	4	firm	firm	ADJ
ajeer-236	543	5	value	value	NOUN
ajeer-236	543	6	:	:	PUNCT
ajeer-236	543	7	evidence	evidence	NOUN
ajeer-236	543	8	from	from	ADP
ajeer-236	543	9	the	the	DET
ajeer-236	543	10	korean	korean	ADJ
ajeer-236	543	11	financial	financial	ADJ
ajeer-236	543	12	crisis	crisis	NOUN
ajeer-236	543	13	.	.	PUNCT
ajeer-236	544	1	journal	journal	NOUN
ajeer-236	544	2	of	of	ADP
ajeer-236	544	3	financial	financial	ADJ
ajeer-236	544	4	economics	economic	NOUN
ajeer-236	544	5	,	,	PUNCT
ajeer-236	544	6	71(2	71(2	NUM
ajeer-236	544	7	):	):	PUNCT
ajeer-236	544	8	265–313	265–313	NUM
ajeer-236	544	9	.	.	PUNCT
ajeer-236	545	1	balcilar	balcilar	ADJ
ajeer-236	545	2	,	,	PUNCT
ajeer-236	545	3	m.	m.	NOUN
ajeer-236	545	4	and	and	CCONJ
ajeer-236	545	5	r.	r.	PROPN
ajeer-236	545	6	demirer	demirer	NOUN
ajeer-236	545	7	,	,	PUNCT
ajeer-236	545	8	2015	2015	NUM
ajeer-236	545	9	.	.	PUNCT
ajeer-236	546	1	effect	effect	NOUN
ajeer-236	546	2	of	of	ADP
ajeer-236	546	3	global	global	ADJ
ajeer-236	546	4	shocks	shock	NOUN
ajeer-236	546	5	and	and	CCONJ
ajeer-236	546	6	volatility	volatility	NOUN
ajeer-236	546	7	on	on	ADP
ajeer-236	546	8	herd	herd	ADJ
ajeer-236	546	9	behavior	behavior	NOUN
ajeer-236	546	10	in	in	ADP
ajeer-236	546	11	an	an	DET
ajeer-236	546	12	emerging	emerge	VERB
ajeer-236	546	13	market	market	NOUN
ajeer-236	546	14	:	:	PUNCT
ajeer-236	546	15	evidence	evidence	NOUN
ajeer-236	546	16	from	from	ADP
ajeer-236	546	17	borsa	borsa	PROPN
ajeer-236	546	18	istanbul	istanbul	PROPN
ajeer-236	546	19	.	.	PUNCT
ajeer-236	547	1	emerging	emerge	VERB
ajeer-236	547	2	markets	market	NOUN
ajeer-236	547	3	finance	finance	NOUN
ajeer-236	547	4	and	and	CCONJ
ajeer-236	547	5	trade	trade	NOUN
ajeer-236	547	6	,	,	PUNCT
ajeer-236	547	7	51(1	51(1	NUM
ajeer-236	547	8	):	):	PUNCT
ajeer-236	547	9	140	140	NUM
ajeer-236	547	10	-	-	SYM
ajeer-236	547	11	159	159	NUM
ajeer-236	547	12	.	.	PUNCT
ajeer-236	548	1	view	view	NOUN
ajeer-236	548	2	at	at	ADP
ajeer-236	548	3	google	google	PROPN
ajeer-236	548	4	scholar	scholar	NOUN
ajeer-236	548	5	|	|	ADV
ajeer-236	548	6	view	view	NOUN
ajeer-236	548	7	at	at	ADP
ajeer-236	548	8	publisher	publisher	NOUN
ajeer-236	548	9	banz	banz	NOUN
ajeer-236	548	10	,	,	PUNCT
ajeer-236	548	11	r.w	r.w	PROPN
ajeer-236	548	12	.	.	PROPN
ajeer-236	548	13	,	,	PUNCT
ajeer-236	548	14	1981	1981	NUM
ajeer-236	548	15	.	.	PUNCT
ajeer-236	549	1	the	the	DET
ajeer-236	549	2	relation	relation	NOUN
ajeer-236	549	3	between	between	ADP
ajeer-236	549	4	return	return	NOUN
ajeer-236	549	5	and	and	CCONJ
ajeer-236	549	6	market	market	NOUN
ajeer-236	549	7	value	value	NOUN
ajeer-236	549	8	of	of	ADP
ajeer-236	549	9	common	common	ADJ
ajeer-236	549	10	stocks	stock	NOUN
ajeer-236	549	11	.	.	PUNCT
ajeer-236	550	1	journal	journal	NOUN
ajeer-236	550	2	of	of	ADP
ajeer-236	550	3	financial	financial	ADJ
ajeer-236	550	4	economics	economic	NOUN
ajeer-236	550	5	,	,	PUNCT
ajeer-236	550	6	9(1	9(1	NUM
ajeer-236	550	7	):	):	PUNCT
ajeer-236	550	8	3	3	NUM
ajeer-236	550	9	-	-	SYM
ajeer-236	550	10	18	18	NUM
ajeer-236	550	11	.	.	PUNCT
ajeer-236	550	12	view	view	NOUN
ajeer-236	550	13	at	at	ADP
ajeer-236	550	14	google	google	PROPN
ajeer-236	550	15	scholar	scholar	NOUN
ajeer-236	550	16	|	|	ADV
ajeer-236	550	17	view	view	NOUN
ajeer-236	550	18	at	at	ADP
ajeer-236	550	19	publisher	publisher	PROPN
ajeer-236	550	20	ben	ben	PROPN
ajeer-236	550	21	-	-	PROPN
ajeer-236	550	22	david	david	PROPN
ajeer-236	550	23	,	,	PUNCT
ajeer-236	550	24	i.	i.	PROPN
ajeer-236	550	25	,	,	PUNCT
ajeer-236	550	26	f.	f.	PROPN
ajeer-236	550	27	francesco	francesco	PROPN
ajeer-236	550	28	and	and	CCONJ
ajeer-236	550	29	m.	m.	NOUN
ajeer-236	550	30	rabih	rabih	NOUN
ajeer-236	550	31	,	,	PUNCT
ajeer-236	550	32	2017	2017	NUM
ajeer-236	550	33	.	.	PUNCT
ajeer-236	551	1	exchange	exchange	NOUN
ajeer-236	551	2	traded	trade	VERB
ajeer-236	551	3	funds	fund	NOUN
ajeer-236	551	4	.	.	PUNCT
ajeer-236	552	1	annual	annual	ADJ
ajeer-236	552	2	review	review	NOUN
ajeer-236	552	3	of	of	ADP
ajeer-236	552	4	financial	financial	ADJ
ajeer-236	552	5	economics	economic	NOUN
ajeer-236	552	6	.	.	PUNCT
ajeer-236	553	1	retrieved	retrieve	VERB
ajeer-236	553	2	from	from	ADP
ajeer-236	553	3	https://doi.org/10.1146/annurev-financial-110716-032538	https://doi.org/10.1146/annurev-financial-110716-032538	PROPN
ajeer-236	553	4	[	[	X
ajeer-236	553	5	accessed	access	VERB
ajeer-236	553	6	aug	aug	PROPN
ajeer-236	553	7	.	.	PROPN
ajeer-236	553	8	11	11	NUM
ajeer-236	553	9	]	]	PUNCT
ajeer-236	553	10	.	.	PUNCT
ajeer-236	554	1	bikhchandani	bikhchandani	PROPN
ajeer-236	554	2	,	,	PUNCT
ajeer-236	554	3	s.	s.	PROPN
ajeer-236	554	4	,	,	PUNCT
ajeer-236	554	5	d.	d.	PROPN
ajeer-236	554	6	hirshleifer	hirshleifer	PROPN
ajeer-236	554	7	and	and	CCONJ
ajeer-236	554	8	i.	i.	PROPN
ajeer-236	554	9	welch	welch	PROPN
ajeer-236	554	10	,	,	PUNCT
ajeer-236	554	11	1992	1992	NUM
ajeer-236	554	12	.	.	PUNCT
ajeer-236	555	1	a	a	DET
ajeer-236	555	2	theory	theory	NOUN
ajeer-236	555	3	of	of	ADP
ajeer-236	555	4	fads	fad	NOUN
ajeer-236	555	5	,	,	PUNCT
ajeer-236	555	6	fashion	fashion	NOUN
ajeer-236	555	7	,	,	PUNCT
ajeer-236	555	8	custom	custom	ADJ
ajeer-236	555	9	,	,	PUNCT
ajeer-236	555	10	and	and	CCONJ
ajeer-236	555	11	cultural	cultural	ADJ
ajeer-236	555	12	change	change	NOUN
ajeer-236	555	13	as	as	ADP
ajeer-236	555	14	informational	informational	ADJ
ajeer-236	555	15	cascades	cascade	NOUN
ajeer-236	555	16	.	.	PUNCT
ajeer-236	556	1	journal	journal	NOUN
ajeer-236	556	2	of	of	ADP
ajeer-236	556	3	political	political	ADJ
ajeer-236	556	4	economy	economy	NOUN
ajeer-236	556	5	,	,	PUNCT
ajeer-236	556	6	100(5	100(5	NUM
ajeer-236	556	7	):	):	PUNCT
ajeer-236	556	8	992	992	NUM
ajeer-236	556	9	-	-	SYM
ajeer-236	556	10	1026	1026	NUM
ajeer-236	556	11	.	.	PUNCT
ajeer-236	557	1	view	view	NOUN
ajeer-236	557	2	at	at	ADP
ajeer-236	557	3	google	google	PROPN
ajeer-236	557	4	scholar	scholar	NOUN
ajeer-236	557	5	|	|	ADV
ajeer-236	557	6	view	view	NOUN
ajeer-236	557	7	at	at	ADP
ajeer-236	557	8	publisher	publisher	NOUN
ajeer-236	557	9	bollerslev	bollerslev	NOUN
ajeer-236	557	10	,	,	PUNCT
ajeer-236	557	11	t.	t.	PROPN
ajeer-236	557	12	,	,	PUNCT
ajeer-236	557	13	1986	1986	NUM
ajeer-236	557	14	.	.	PUNCT
ajeer-236	558	1	generalized	generalize	VERB
ajeer-236	558	2	autoregressive	autoregressive	ADJ
ajeer-236	558	3	conditional	conditional	ADJ
ajeer-236	558	4	heteroskedasticity	heteroskedasticity	NOUN
ajeer-236	558	5	.	.	PUNCT
ajeer-236	559	1	journal	journal	PROPN
ajeer-236	559	2	of	of	ADP
ajeer-236	559	3	economics	economic	NOUN
ajeer-236	559	4	,	,	PUNCT
ajeer-236	559	5	31(3	31(3	NUM
ajeer-236	559	6	):	):	PUNCT
ajeer-236	559	7	307	307	NUM
ajeer-236	559	8	-	-	SYM
ajeer-236	559	9	327	327	NUM
ajeer-236	559	10	.	.	PUNCT
ajeer-236	560	1	view	view	NOUN
ajeer-236	560	2	at	at	ADP
ajeer-236	560	3	google	google	PROPN
ajeer-236	560	4	scholar	scholar	NOUN
ajeer-236	560	5	|	|	ADV
ajeer-236	560	6	view	view	NOUN
ajeer-236	560	7	at	at	ADP
ajeer-236	560	8	publisher	publisher	NOUN
ajeer-236	560	9	cadsby	cadsby	PROPN
ajeer-236	560	10	,	,	PUNCT
ajeer-236	560	11	c.b	c.b	PROPN
ajeer-236	560	12	.	.	PROPN
ajeer-236	560	13	,	,	PUNCT
ajeer-236	560	14	1989	1989	NUM
ajeer-236	560	15	.	.	PUNCT
ajeer-236	561	1	canadian	canadian	ADJ
ajeer-236	561	2	calendar	calendar	NOUN
ajeer-236	561	3	anomalies	anomaly	NOUN
ajeer-236	561	4	and	and	CCONJ
ajeer-236	561	5	the	the	DET
ajeer-236	561	6	capital	capital	NOUN
ajeer-236	561	7	asset	asset	NOUN
ajeer-236	561	8	pricing	pricing	NOUN
ajeer-236	561	9	model	model	NOUN
ajeer-236	561	10	.	.	PUNCT
ajeer-236	562	1	in	in	ADP
ajeer-236	562	2	:	:	PUNCT
ajeer-236	562	3	guimarães	guimarães	PROPN
ajeer-236	562	4	r.m.c	r.m.c	PROPN
ajeer-236	562	5	.	.	PROPN
ajeer-236	562	6	,	,	PUNCT
ajeer-236	562	7	kingsman	kingsman	PROPN
ajeer-236	562	8	b.g	b.g	PROPN
ajeer-236	562	9	.	.	PROPN
ajeer-236	562	10	,	,	PUNCT
ajeer-236	562	11	taylor	taylor	PROPN
ajeer-236	562	12	s.j	s.j	PROPN
ajeer-236	562	13	.	.	PROPN
ajeer-236	562	14	(	(	PUNCT
ajeer-236	562	15	eds	ed	NOUN
ajeer-236	562	16	)	)	PUNCT
ajeer-236	562	17	,	,	PUNCT
ajeer-236	562	18	a	a	DET
ajeer-236	562	19	reappraisal	reappraisal	NOUN
ajeer-236	562	20	of	of	ADP
ajeer-236	562	21	the	the	DET
ajeer-236	562	22	efficiency	efficiency	NOUN
ajeer-236	562	23	of	of	ADP
ajeer-236	562	24	financial	financial	ADJ
ajeer-236	562	25	markets	market	NOUN
ajeer-236	562	26	,	,	PUNCT
ajeer-236	562	27	nato	nato	PROPN
ajeer-236	562	28	asi	asi	PROPN
ajeer-236	562	29	series	series	PROPN
ajeer-236	562	30	(	(	PUNCT
ajeer-236	562	31	series	series	NOUN
ajeer-236	562	32	f	f	PROPN
ajeer-236	562	33	:	:	PUNCT
ajeer-236	562	34	computer	computer	NOUN
ajeer-236	562	35	and	and	CCONJ
ajeer-236	562	36	systems	system	NOUN
ajeer-236	562	37	sciences	science	NOUN
ajeer-236	562	38	)	)	PUNCT
ajeer-236	562	39	.	.	PUNCT
ajeer-236	563	1	berlin	berlin	PROPN
ajeer-236	563	2	,	,	PUNCT
ajeer-236	563	3	heidelberg	heidelberg	NOUN
ajeer-236	563	4	:	:	PUNCT
ajeer-236	563	5	springer	springer	NOUN
ajeer-236	563	6	,	,	PUNCT
ajeer-236	563	7	54	54	NUM
ajeer-236	563	8	.	.	PUNCT
ajeer-236	564	1	christie	christie	PROPN
ajeer-236	564	2	,	,	PUNCT
ajeer-236	564	3	w.g	w.g	PROPN
ajeer-236	564	4	.	.	PROPN
ajeer-236	564	5	and	and	CCONJ
ajeer-236	564	6	r.d	r.d	PROPN
ajeer-236	564	7	.	.	PROPN
ajeer-236	564	8	huang	huang	PROPN
ajeer-236	564	9	,	,	PUNCT
ajeer-236	564	10	1995	1995	NUM
ajeer-236	564	11	.	.	PUNCT
ajeer-236	565	1	following	follow	VERB
ajeer-236	565	2	the	the	DET
ajeer-236	565	3	pied	pied	ADJ
ajeer-236	565	4	piper	piper	NOUN
ajeer-236	565	5	:	:	PUNCT
ajeer-236	565	6	do	do	VERB
ajeer-236	565	7	individual	individual	ADJ
ajeer-236	565	8	returns	return	NOUN
ajeer-236	565	9	herd	herd	VERB
ajeer-236	565	10	around	around	ADP
ajeer-236	565	11	the	the	DET
ajeer-236	565	12	market	market	NOUN
ajeer-236	565	13	?	?	PUNCT
ajeer-236	566	1	financial	financial	ADJ
ajeer-236	566	2	analysts	analyst	NOUN
ajeer-236	566	3	journal	journal	NOUN
ajeer-236	566	4	,	,	PUNCT
ajeer-236	566	5	51(4	51(4	NUM
ajeer-236	566	6	):	):	PUNCT
ajeer-236	566	7	31	31	NUM
ajeer-236	566	8	-	-	SYM
ajeer-236	566	9	37	37	NUM
ajeer-236	566	10	.	.	PUNCT
ajeer-236	567	1	view	view	NOUN
ajeer-236	567	2	at	at	ADP
ajeer-236	567	3	google	google	PROPN
ajeer-236	567	4	scholar	scholar	NOUN
ajeer-236	567	5	|	|	ADV
ajeer-236	567	6	view	view	NOUN
ajeer-236	567	7	at	at	ADP
ajeer-236	567	8	publisher	publisher	NOUN
ajeer-236	567	9	cipriani	cipriani	PROPN
ajeer-236	567	10	,	,	PUNCT
ajeer-236	567	11	m.	m.	NOUN
ajeer-236	567	12	and	and	CCONJ
ajeer-236	567	13	a.	a.	NOUN
ajeer-236	567	14	guarino	guarino	PROPN
ajeer-236	567	15	,	,	PUNCT
ajeer-236	567	16	2014	2014	NUM
ajeer-236	567	17	.	.	PUNCT
ajeer-236	568	1	estimating	estimate	VERB
ajeer-236	568	2	a	a	DET
ajeer-236	568	3	structural	structural	ADJ
ajeer-236	568	4	model	model	NOUN
ajeer-236	568	5	of	of	ADP
ajeer-236	568	6	herd	herd	NOUN
ajeer-236	568	7	behavior	behavior	NOUN
ajeer-236	568	8	in	in	ADP
ajeer-236	568	9	financial	financial	ADJ
ajeer-236	568	10	markets	market	NOUN
ajeer-236	568	11	.	.	PUNCT
ajeer-236	569	1	american	american	PROPN
ajeer-236	569	2	economic	economic	PROPN
ajeer-236	569	3	review	review	PROPN
ajeer-236	569	4	,	,	PUNCT
ajeer-236	569	5	104(1	104(1	NUM
ajeer-236	569	6	):	):	PUNCT
ajeer-236	569	7	224	224	NUM
ajeer-236	569	8	-	-	SYM
ajeer-236	569	9	251	251	NUM
ajeer-236	569	10	.	.	PUNCT
ajeer-236	570	1	view	view	NOUN
ajeer-236	570	2	at	at	ADP
ajeer-236	570	3	google	google	PROPN
ajeer-236	570	4	scholar	scholar	NOUN
ajeer-236	570	5	|	|	ADV
ajeer-236	570	6	view	view	NOUN
ajeer-236	570	7	at	at	ADP
ajeer-236	570	8	publisher	publisher	NOUN
ajeer-236	570	9	engle	engle	PROPN
ajeer-236	570	10	,	,	PUNCT
ajeer-236	570	11	r.f	r.f	PROPN
ajeer-236	570	12	.	.	PROPN
ajeer-236	570	13	and	and	CCONJ
ajeer-236	570	14	c.w.j	c.w.j	NOUN
ajeer-236	570	15	.	.	PUNCT
ajeer-236	571	1	granger	granger	NOUN
ajeer-236	571	2	,	,	PUNCT
ajeer-236	571	3	1987	1987	NUM
ajeer-236	571	4	.	.	PUNCT
ajeer-236	572	1	co	co	NOUN
ajeer-236	572	2	-	-	NOUN
ajeer-236	572	3	integration	integration	NOUN
ajeer-236	572	4	and	and	CCONJ
ajeer-236	572	5	error	error	NOUN
ajeer-236	572	6	correction	correction	NOUN
ajeer-236	572	7	:	:	PUNCT
ajeer-236	572	8	representation	representation	NOUN
ajeer-236	572	9	,	,	PUNCT
ajeer-236	572	10	estimation	estimation	NOUN
ajeer-236	572	11	,	,	PUNCT
ajeer-236	572	12	and	and	CCONJ
ajeer-236	572	13	testing	testing	NOUN
ajeer-236	572	14	.	.	PUNCT
ajeer-236	573	1	econometrica	econometrica	PROPN
ajeer-236	573	2	,	,	PUNCT
ajeer-236	573	3	55(2	55(2	NUM
ajeer-236	573	4	):	):	PUNCT
ajeer-236	573	5	251	251	NUM
ajeer-236	573	6	-	-	SYM
ajeer-236	573	7	276	276	NUM
ajeer-236	573	8	.	.	PUNCT
ajeer-236	574	1	view	view	NOUN
ajeer-236	574	2	at	at	ADP
ajeer-236	574	3	google	google	PROPN
ajeer-236	574	4	scholar	scholar	NOUN
ajeer-236	574	5	|	|	ADV
ajeer-236	574	6	view	view	NOUN
ajeer-236	574	7	at	at	ADP
ajeer-236	574	8	publisher	publisher	NOUN
ajeer-236	574	9	fama	fama	PROPN
ajeer-236	574	10	,	,	PUNCT
ajeer-236	574	11	e.f	e.f	PROPN
ajeer-236	574	12	.	.	PROPN
ajeer-236	574	13	,	,	PUNCT
ajeer-236	574	14	1965	1965	NUM
ajeer-236	574	15	.	.	PUNCT
ajeer-236	575	1	the	the	DET
ajeer-236	575	2	behavior	behavior	NOUN
ajeer-236	575	3	of	of	ADP
ajeer-236	575	4	stock	stock	NOUN
ajeer-236	575	5	-	-	PUNCT
ajeer-236	575	6	market	market	NOUN
ajeer-236	575	7	prices	price	NOUN
ajeer-236	575	8	.	.	PUNCT
ajeer-236	576	1	journal	journal	PROPN
ajeer-236	576	2	of	of	ADP
ajeer-236	576	3	business	business	NOUN
ajeer-236	576	4	,	,	PUNCT
ajeer-236	576	5	38(1	38(1	NUM
ajeer-236	576	6	):	):	PUNCT
ajeer-236	576	7	34	34	NUM
ajeer-236	576	8	-	-	SYM
ajeer-236	576	9	105	105	NUM
ajeer-236	576	10	.	.	PUNCT
ajeer-236	577	1	view	view	NOUN
ajeer-236	577	2	at	at	ADP
ajeer-236	577	3	google	google	PROPN
ajeer-236	577	4	scholar	scholar	NOUN
ajeer-236	577	5	|	|	ADV
ajeer-236	577	6	view	view	NOUN
ajeer-236	577	7	at	at	ADP
ajeer-236	577	8	publisher	publisher	NOUN
ajeer-236	577	9	fama	fama	PROPN
ajeer-236	577	10	,	,	PUNCT
ajeer-236	577	11	e.f	e.f	PROPN
ajeer-236	577	12	.	.	PROPN
ajeer-236	577	13	,	,	PUNCT
ajeer-236	577	14	1970	1970	NUM
ajeer-236	577	15	.	.	PUNCT
ajeer-236	578	1	efficient	efficient	ADJ
ajeer-236	578	2	capital	capital	NOUN
ajeer-236	578	3	markets	market	NOUN
ajeer-236	578	4	:	:	PUNCT
ajeer-236	578	5	a	a	DET
ajeer-236	578	6	review	review	NOUN
ajeer-236	578	7	of	of	ADP
ajeer-236	578	8	theory	theory	NOUN
ajeer-236	578	9	and	and	CCONJ
ajeer-236	578	10	empirical	empirical	ADJ
ajeer-236	578	11	work	work	NOUN
ajeer-236	578	12	.	.	PUNCT
ajeer-236	579	1	journal	journal	PROPN
ajeer-236	579	2	of	of	ADP
ajeer-236	579	3	finance	finance	NOUN
ajeer-236	579	4	,	,	PUNCT
ajeer-236	579	5	25(2	25(2	NUM
ajeer-236	579	6	):	):	PUNCT
ajeer-236	579	7	383	383	NUM
ajeer-236	579	8	-	-	SYM
ajeer-236	579	9	417	417	NUM
ajeer-236	579	10	.	.	PUNCT
ajeer-236	580	1	view	view	NOUN
ajeer-236	580	2	at	at	ADP
ajeer-236	580	3	publisher	publisher	PROPN
ajeer-236	580	4	finkelstein	finkelstein	PROPN
ajeer-236	580	5	,	,	PUNCT
ajeer-236	580	6	s.	s.	PROPN
ajeer-236	580	7	,	,	PUNCT
ajeer-236	580	8	1992	1992	NUM
ajeer-236	580	9	.	.	PUNCT
ajeer-236	581	1	power	power	NOUN
ajeer-236	581	2	in	in	ADP
ajeer-236	581	3	top	top	ADJ
ajeer-236	581	4	management	management	NOUN
ajeer-236	581	5	teams	team	NOUN
ajeer-236	581	6	:	:	PUNCT
ajeer-236	581	7	dimensions	dimension	NOUN
ajeer-236	581	8	,	,	PUNCT
ajeer-236	581	9	measurement	measurement	NOUN
ajeer-236	581	10	,	,	PUNCT
ajeer-236	581	11	and	and	CCONJ
ajeer-236	581	12	validation	validation	NOUN
ajeer-236	581	13	.	.	PUNCT
ajeer-236	582	1	academy	academy	PROPN
ajeer-236	582	2	of	of	ADP
ajeer-236	582	3	management	management	PROPN
ajeer-236	582	4	journal	journal	NOUN
ajeer-236	582	5	,	,	PUNCT
ajeer-236	582	6	35(3	35(3	NUM
ajeer-236	582	7	):	):	PUNCT
ajeer-236	582	8	505	505	NUM
ajeer-236	582	9	-	-	SYM
ajeer-236	582	10	538	538	NUM
ajeer-236	582	11	.	.	PUNCT
ajeer-236	583	1	view	view	NOUN
ajeer-236	583	2	at	at	ADP
ajeer-236	583	3	google	google	PROPN
ajeer-236	583	4	scholar	scholar	NOUN
ajeer-236	583	5	|	|	ADV
ajeer-236	583	6	view	view	NOUN
ajeer-236	583	7	at	at	ADP
ajeer-236	583	8	publisher	publisher	NOUN
ajeer-236	583	9	froot	froot	PROPN
ajeer-236	583	10	,	,	PUNCT
ajeer-236	583	11	k.a	k.a	PROPN
ajeer-236	583	12	.	.	PROPN
ajeer-236	583	13	,	,	PUNCT
ajeer-236	583	14	s.s	s.s	PROPN
ajeer-236	583	15	.	.	PROPN
ajeer-236	583	16	david	david	PROPN
ajeer-236	583	17	and	and	CCONJ
ajeer-236	583	18	s.c	s.c	PROPN
ajeer-236	583	19	.	.	PROPN
ajeer-236	583	20	jeremy	jeremy	PROPN
ajeer-236	583	21	,	,	PUNCT
ajeer-236	583	22	1993	1993	NUM
ajeer-236	583	23	.	.	PUNCT
ajeer-236	584	1	risk	risk	NOUN
ajeer-236	584	2	management	management	NOUN
ajeer-236	584	3	:	:	PUNCT
ajeer-236	584	4	coordinating	coordinate	VERB
ajeer-236	584	5	corporate	corporate	ADJ
ajeer-236	584	6	investment	investment	NOUN
ajeer-236	584	7	and	and	CCONJ
ajeer-236	584	8	financing	financing	NOUN
ajeer-236	584	9	policies	policy	NOUN
ajeer-236	584	10	.	.	PUNCT
ajeer-236	585	1	journal	journal	PROPN
ajeer-236	585	2	of	of	ADP
ajeer-236	585	3	finance	finance	NOUN
ajeer-236	585	4	,	,	PUNCT
ajeer-236	585	5	48(5	48(5	NUM
ajeer-236	585	6	):	):	PUNCT
ajeer-236	585	7	1629	1629	NUM
ajeer-236	585	8	-	-	SYM
ajeer-236	585	9	1658	1658	NUM
ajeer-236	585	10	.	.	PUNCT
ajeer-236	586	1	view	view	NOUN
ajeer-236	586	2	at	at	ADP
ajeer-236	586	3	google	google	PROPN
ajeer-236	586	4	scholar	scholar	NOUN
ajeer-236	586	5	|	|	ADV
ajeer-236	586	6	view	view	NOUN
ajeer-236	586	7	at	at	ADP
ajeer-236	586	8	publisher	publisher	NOUN
ajeer-236	586	9	isard	isard	PROPN
ajeer-236	586	10	,	,	PUNCT
ajeer-236	586	11	w.	w.	PROPN
ajeer-236	586	12	,	,	PUNCT
ajeer-236	586	13	1951	1951	NUM
ajeer-236	586	14	.	.	PUNCT
ajeer-236	587	1	interregional	interregional	ADJ
ajeer-236	587	2	and	and	CCONJ
ajeer-236	587	3	regional	regional	ADJ
ajeer-236	587	4	input	input	NOUN
ajeer-236	587	5	-	-	PUNCT
ajeer-236	587	6	output	output	NOUN
ajeer-236	587	7	analysis	analysis	NOUN
ajeer-236	587	8	:	:	PUNCT
ajeer-236	587	9	a	a	DET
ajeer-236	587	10	model	model	NOUN
ajeer-236	587	11	of	of	ADP
ajeer-236	587	12	a	a	DET
ajeer-236	587	13	space	space	NOUN
ajeer-236	587	14	-	-	PUNCT
ajeer-236	587	15	economy	economy	NOUN
ajeer-236	587	16	.	.	PUNCT
ajeer-236	588	1	review	review	NOUN
ajeer-236	588	2	of	of	ADP
ajeer-236	588	3	economics	economic	NOUN
ajeer-236	588	4	and	and	CCONJ
ajeer-236	588	5	statistics	statistic	NOUN
ajeer-236	588	6	,	,	PUNCT
ajeer-236	588	7	33(4	33(4	NUM
ajeer-236	588	8	):	):	PUNCT
ajeer-236	588	9	318	318	NUM
ajeer-236	588	10	-	-	SYM
ajeer-236	588	11	328	328	NUM
ajeer-236	588	12	.	.	PUNCT
ajeer-236	589	1	view	view	NOUN
ajeer-236	589	2	at	at	ADP
ajeer-236	589	3	google	google	PROPN
ajeer-236	589	4	scholar	scholar	NOUN
ajeer-236	589	5	|	|	ADV
ajeer-236	589	6	view	view	NOUN
ajeer-236	589	7	at	at	ADP
ajeer-236	589	8	publisher	publisher	NOUN
ajeer-236	589	9	jain	jain	PROPN
ajeer-236	589	10	,	,	PUNCT
ajeer-236	589	11	b.a	b.a	PROPN
ajeer-236	589	12	.	.	PROPN
ajeer-236	589	13	and	and	CCONJ
ajeer-236	589	14	o.	o.	PROPN
ajeer-236	589	15	kini	kini	PROPN
ajeer-236	589	16	,	,	PUNCT
ajeer-236	589	17	2000	2000	NUM
ajeer-236	589	18	.	.	PUNCT
ajeer-236	590	1	does	do	AUX
ajeer-236	590	2	the	the	DET
ajeer-236	590	3	presence	presence	NOUN
ajeer-236	590	4	of	of	ADP
ajeer-236	590	5	venture	venture	NOUN
ajeer-236	590	6	capitalists	capitalist	NOUN
ajeer-236	590	7	improve	improve	VERB
ajeer-236	590	8	the	the	DET
ajeer-236	590	9	survival	survival	NOUN
ajeer-236	590	10	profile	profile	NOUN
ajeer-236	590	11	of	of	ADP
ajeer-236	590	12	ipo	ipo	NOUN
ajeer-236	590	13	firms	firm	NOUN
ajeer-236	590	14	?	?	PUNCT
ajeer-236	591	1	journal	journal	NOUN
ajeer-236	591	2	of	of	ADP
ajeer-236	591	3	business	business	NOUN
ajeer-236	591	4	finance	finance	NOUN
ajeer-236	591	5	and	and	CCONJ
ajeer-236	591	6	accounting	accounting	NOUN
ajeer-236	591	7	,	,	PUNCT
ajeer-236	591	8	27(9	27(9	NOUN
ajeer-236	591	9	-	-	SYM
ajeer-236	591	10	10	10	NUM
ajeer-236	591	11	):	):	PUNCT
ajeer-236	591	12	1139–1183	1139–1183	NUM
ajeer-236	591	13	.	.	PUNCT
ajeer-236	592	1	view	view	NOUN
ajeer-236	592	2	at	at	ADP
ajeer-236	592	3	google	google	PROPN
ajeer-236	592	4	scholar	scholar	NOUN
ajeer-236	592	5	|	|	ADV
ajeer-236	592	6	view	view	NOUN
ajeer-236	592	7	at	at	ADP
ajeer-236	592	8	publisher	publisher	PROPN
ajeer-236	592	9	johannisson	johannisson	PROPN
ajeer-236	592	10	,	,	PUNCT
ajeer-236	592	11	b.	b.	PROPN
ajeer-236	592	12	and	and	CCONJ
ajeer-236	592	13	m.	m.	NOUN
ajeer-236	592	14	huse	huse	NOUN
ajeer-236	592	15	,	,	PUNCT
ajeer-236	592	16	2000	2000	NUM
ajeer-236	592	17	.	.	PUNCT
ajeer-236	593	1	recruiting	recruit	VERB
ajeer-236	593	2	outside	outside	ADP
ajeer-236	593	3	board	board	NOUN
ajeer-236	593	4	members	member	NOUN
ajeer-236	593	5	in	in	ADP
ajeer-236	593	6	the	the	DET
ajeer-236	593	7	small	small	ADJ
ajeer-236	593	8	family	family	NOUN
ajeer-236	593	9	business	business	NOUN
ajeer-236	593	10	:	:	PUNCT
ajeer-236	593	11	an	an	DET
ajeer-236	593	12	ideological	ideological	ADJ
ajeer-236	593	13	challenge	challenge	NOUN
ajeer-236	593	14	.	.	PUNCT
ajeer-236	594	1	entrepreneurship	entrepreneurship	NOUN
ajeer-236	594	2	&	&	CCONJ
ajeer-236	594	3	regional	regional	ADJ
ajeer-236	594	4	development	development	NOUN
ajeer-236	594	5	,	,	PUNCT
ajeer-236	594	6	12(4	12(4	NUM
ajeer-236	594	7	):	):	PUNCT
ajeer-236	594	8	353	353	NUM
ajeer-236	594	9	-	-	SYM
ajeer-236	594	10	378	378	NUM
ajeer-236	594	11	.	.	PUNCT
ajeer-236	594	12	view	view	NOUN
ajeer-236	594	13	at	at	ADP
ajeer-236	594	14	google	google	PROPN
ajeer-236	594	15	scholar	scholar	NOUN
ajeer-236	594	16	|	|	ADV
ajeer-236	594	17	view	view	NOUN
ajeer-236	594	18	at	at	ADP
ajeer-236	594	19	publisher	publisher	PROPN
ajeer-236	594	20	johansen	johansen	PROPN
ajeer-236	594	21	,	,	PUNCT
ajeer-236	594	22	s.	s.	PROPN
ajeer-236	594	23	,	,	PUNCT
ajeer-236	594	24	1991	1991	NUM
ajeer-236	594	25	.	.	PUNCT
ajeer-236	595	1	estimation	estimation	NOUN
ajeer-236	595	2	and	and	CCONJ
ajeer-236	595	3	hypothesis	hypothesis	NOUN
ajeer-236	595	4	testing	testing	NOUN
ajeer-236	595	5	of	of	ADP
ajeer-236	595	6	cointegration	cointegration	NOUN
ajeer-236	595	7	vectors	vector	NOUN
ajeer-236	595	8	in	in	ADP
ajeer-236	595	9	gaussian	gaussian	ADJ
ajeer-236	595	10	vector	vector	NOUN
ajeer-236	595	11	autoregressive	autoregressive	ADJ
ajeer-236	595	12	models	model	NOUN
ajeer-236	595	13	.	.	PUNCT
ajeer-236	596	1	econometrica	econometrica	PROPN
ajeer-236	596	2	,	,	PUNCT
ajeer-236	596	3	59(6	59(6	NUM
ajeer-236	596	4	):	):	PUNCT
ajeer-236	596	5	1551	1551	NUM
ajeer-236	596	6	-	-	SYM
ajeer-236	596	7	1580	1580	NUM
ajeer-236	596	8	.	.	PUNCT
ajeer-236	597	1	view	view	NOUN
ajeer-236	597	2	at	at	ADP
ajeer-236	597	3	google	google	PROPN
ajeer-236	597	4	scholar	scholar	NOUN
ajeer-236	597	5	|	|	ADV
ajeer-236	597	6	view	view	NOUN
ajeer-236	597	7	at	at	ADP
ajeer-236	597	8	publisher	publisher	PROPN
ajeer-236	597	9	johansen	johansen	PROPN
ajeer-236	597	10	,	,	PUNCT
ajeer-236	597	11	s.	s.	PROPN
ajeer-236	597	12	and	and	CCONJ
ajeer-236	597	13	k.	k.	PROPN
ajeer-236	597	14	juselius	juselius	PROPN
ajeer-236	597	15	,	,	PUNCT
ajeer-236	597	16	1988	1988	NUM
ajeer-236	597	17	.	.	PUNCT
ajeer-236	598	1	hypothesis	hypothesis	NOUN
ajeer-236	598	2	testing	testing	NOUN
ajeer-236	598	3	for	for	ADP
ajeer-236	598	4	cointegration	cointegration	NOUN
ajeer-236	598	5	vectors	vector	NOUN
ajeer-236	598	6	:	:	PUNCT
ajeer-236	598	7	with	with	ADP
ajeer-236	598	8	application	application	NOUN
ajeer-236	598	9	to	to	ADP
ajeer-236	598	10	the	the	DET
ajeer-236	598	11	demand	demand	NOUN
ajeer-236	598	12	for	for	ADP
ajeer-236	598	13	money	money	NOUN
ajeer-236	598	14	in	in	ADP
ajeer-236	598	15	denmark	denmark	NOUN
ajeer-236	598	16	and	and	CCONJ
ajeer-236	598	17	finland	finland	PROPN
ajeer-236	598	18	.	.	PUNCT
ajeer-236	599	1	oxford	oxford	PROPN
ajeer-236	599	2	bulletin	bulletin	NOUN
ajeer-236	599	3	of	of	ADP
ajeer-236	599	4	economics	economic	NOUN
ajeer-236	599	5	and	and	CCONJ
ajeer-236	599	6	statistics	statistic	NOUN
ajeer-236	599	7	,	,	PUNCT
ajeer-236	599	8	52(2	52(2	NUM
ajeer-236	599	9	):	):	PUNCT
ajeer-236	599	10	169	169	NUM
ajeer-236	599	11	-	-	SYM
ajeer-236	599	12	210	210	NUM
ajeer-236	599	13	.	.	PUNCT
ajeer-236	600	1	johansen	johansen	PROPN
ajeer-236	600	2	,	,	PUNCT
ajeer-236	600	3	s.	s.	PROPN
ajeer-236	600	4	and	and	CCONJ
ajeer-236	600	5	k.	k.	PROPN
ajeer-236	600	6	juselius	juselius	PROPN
ajeer-236	600	7	,	,	PUNCT
ajeer-236	600	8	1990	1990	NUM
ajeer-236	600	9	.	.	PUNCT
ajeer-236	601	1	maximum	maximum	ADJ
ajeer-236	601	2	likelihood	likelihood	NOUN
ajeer-236	601	3	estimation	estimation	NOUN
ajeer-236	601	4	and	and	CCONJ
ajeer-236	601	5	inference	inference	NOUN
ajeer-236	601	6	on	on	ADP
ajeer-236	601	7	cointegration	cointegration	NOUN
ajeer-236	601	8	with	with	ADP
ajeer-236	601	9	applications	application	NOUN
ajeer-236	601	10	to	to	PART
ajeer-236	601	11	demand	demand	VERB
ajeer-236	601	12	for	for	ADP
ajeer-236	601	13	money	money	NOUN
ajeer-236	601	14	.	.	PUNCT
ajeer-236	602	1	oxford	oxford	ADJ
ajeer-236	602	2	bulletin	bulletin	NOUN
ajeer-236	602	3	of	of	ADP
ajeer-236	602	4	economics	economic	NOUN
ajeer-236	602	5	and	and	CCONJ
ajeer-236	602	6	statistics	statistic	NOUN
ajeer-236	602	7	,	,	PUNCT
ajeer-236	602	8	52(2	52(2	NUM
ajeer-236	602	9	):	):	PUNCT
ajeer-236	602	10	169	169	NUM
ajeer-236	602	11	-	-	SYM
ajeer-236	602	12	210	210	NUM
ajeer-236	602	13	.	.	PUNCT
ajeer-236	603	1	view	view	NOUN
ajeer-236	603	2	at	at	ADP
ajeer-236	603	3	google	google	PROPN
ajeer-236	603	4	scholar	scholar	NOUN
ajeer-236	603	5	|	|	ADV
ajeer-236	603	6	view	view	NOUN
ajeer-236	603	7	at	at	ADP
ajeer-236	603	8	publisher	publisher	NOUN
ajeer-236	603	9	khanna	khanna	PROPN
ajeer-236	603	10	,	,	PUNCT
ajeer-236	603	11	t.	t.	PROPN
ajeer-236	603	12	and	and	CCONJ
ajeer-236	603	13	y.	y.	PROPN
ajeer-236	603	14	yishay	yishay	PROPN
ajeer-236	603	15	,	,	PUNCT
ajeer-236	603	16	2015	2015	NUM
ajeer-236	603	17	.	.	PUNCT
ajeer-236	604	1	business	business	NOUN
ajeer-236	604	2	groups	group	NOUN
ajeer-236	604	3	in	in	ADP
ajeer-236	604	4	emerging	emerge	VERB
ajeer-236	604	5	markets	market	NOUN
ajeer-236	604	6	:	:	PUNCT
ajeer-236	604	7	paragons	paragon	NOUN
ajeer-236	604	8	or	or	CCONJ
ajeer-236	604	9	parasites	parasite	NOUN
ajeer-236	604	10	?	?	PUNCT
ajeer-236	605	1	review	review	NOUN
ajeer-236	605	2	of	of	ADP
ajeer-236	605	3	economics	economic	NOUN
ajeer-236	605	4	and	and	CCONJ
ajeer-236	605	5	institutions	institution	NOUN
ajeer-236	605	6	,	,	PUNCT
ajeer-236	605	7	6(1	6(1	NUM
ajeer-236	605	8	):	):	PUNCT
ajeer-236	605	9	1	1	NUM
ajeer-236	605	10	-	-	SYM
ajeer-236	605	11	60	60	NUM
ajeer-236	605	12	.	.	PUNCT
ajeer-236	606	1	view	view	NOUN
ajeer-236	606	2	at	at	ADP
ajeer-236	606	3	google	google	PROPN
ajeer-236	606	4	scholar	scholar	PROPN
ajeer-236	606	5	kim	kim	PROPN
ajeer-236	606	6	,	,	PUNCT
ajeer-236	606	7	w.	w.	PROPN
ajeer-236	606	8	and	and	CCONJ
ajeer-236	606	9	s.-j	s.-j	PROPN
ajeer-236	606	10	.	.	PUNCT
ajeer-236	607	1	wei	wei	PROPN
ajeer-236	607	2	,	,	PUNCT
ajeer-236	607	3	2002	2002	NUM
ajeer-236	607	4	.	.	PUNCT
ajeer-236	608	1	foreign	foreign	ADJ
ajeer-236	608	2	portfolio	portfolio	NOUN
ajeer-236	608	3	investors	investor	NOUN
ajeer-236	608	4	before	before	ADP
ajeer-236	608	5	and	and	CCONJ
ajeer-236	608	6	during	during	ADP
ajeer-236	608	7	a	a	DET
ajeer-236	608	8	crisis	crisis	NOUN
ajeer-236	608	9	.	.	PUNCT
ajeer-236	609	1	journal	journal	PROPN
ajeer-236	609	2	of	of	ADP
ajeer-236	609	3	international	international	ADJ
ajeer-236	609	4	economics	economic	NOUN
ajeer-236	609	5	,	,	PUNCT
ajeer-236	609	6	56(1	56(1	NUM
ajeer-236	609	7	):	):	PUNCT
ajeer-236	609	8	77	77	NUM
ajeer-236	609	9	-	-	SYM
ajeer-236	609	10	96	96	NUM
ajeer-236	609	11	.	.	PUNCT
ajeer-236	610	1	view	view	NOUN
ajeer-236	610	2	at	at	ADP
ajeer-236	610	3	google	google	PROPN
ajeer-236	610	4	scholar	scholar	NOUN
ajeer-236	610	5	|	|	ADV
ajeer-236	610	6	view	view	NOUN
ajeer-236	610	7	at	at	ADP
ajeer-236	610	8	publisher	publisher	NOUN
ajeer-236	610	9	la	la	PROPN
ajeer-236	610	10	porta	porta	PROPN
ajeer-236	610	11	,	,	PUNCT
ajeer-236	610	12	r.	r.	PROPN
ajeer-236	610	13	,	,	PUNCT
ajeer-236	610	14	f.	f.	PROPN
ajeer-236	610	15	lopez	lopez	PROPN
ajeer-236	610	16	-	-	PUNCT
ajeer-236	610	17	de	de	NOUN
ajeer-236	610	18	-	-	NOUN
ajeer-236	610	19	silanes	silane	NOUN
ajeer-236	610	20	and	and	CCONJ
ajeer-236	610	21	a.	a.	NOUN
ajeer-236	610	22	shleifer	shleifer	PROPN
ajeer-236	610	23	,	,	PUNCT
ajeer-236	610	24	1999	1999	NUM
ajeer-236	610	25	.	.	PUNCT
ajeer-236	611	1	corporate	corporate	ADJ
ajeer-236	611	2	ownership	ownership	NOUN
ajeer-236	611	3	around	around	ADP
ajeer-236	611	4	the	the	DET
ajeer-236	611	5	world	world	NOUN
ajeer-236	611	6	.	.	PUNCT
ajeer-236	612	1	journal	journal	PROPN
ajeer-236	612	2	of	of	ADP
ajeer-236	612	3	finance	finance	NOUN
ajeer-236	612	4	,	,	PUNCT
ajeer-236	612	5	54(2	54(2	NUM
ajeer-236	612	6	):	):	PUNCT
ajeer-236	612	7	471	471	NUM
ajeer-236	612	8	-	-	SYM
ajeer-236	612	9	517	517	NUM
ajeer-236	612	10	.	.	PUNCT
ajeer-236	613	1	view	view	NOUN
ajeer-236	613	2	at	at	ADP
ajeer-236	613	3	google	google	PROPN
ajeer-236	613	4	scholar	scholar	NOUN
ajeer-236	613	5	|	|	ADV
ajeer-236	613	6	view	view	NOUN
ajeer-236	613	7	at	at	ADP
ajeer-236	613	8	publisher	publisher	NOUN
ajeer-236	613	9	la	la	PROPN
ajeer-236	613	10	porta	porta	PROPN
ajeer-236	613	11	,	,	PUNCT
ajeer-236	613	12	r.	r.	PROPN
ajeer-236	613	13	,	,	PUNCT
ajeer-236	613	14	f.	f.	PROPN
ajeer-236	613	15	lopez	lopez	PROPN
ajeer-236	613	16	-	-	PUNCT
ajeer-236	613	17	de	de	NOUN
ajeer-236	613	18	-	-	NOUN
ajeer-236	613	19	silanes	silane	NOUN
ajeer-236	613	20	,	,	PUNCT
ajeer-236	613	21	a.	a.	NOUN
ajeer-236	613	22	shleifer	shleifer	NOUN
ajeer-236	613	23	and	and	CCONJ
ajeer-236	613	24	r.w	r.w	PROPN
ajeer-236	613	25	.	.	PROPN
ajeer-236	613	26	vishny	vishny	PROPN
ajeer-236	613	27	,	,	PUNCT
ajeer-236	613	28	1997	1997	NUM
ajeer-236	613	29	.	.	PUNCT
ajeer-236	614	1	legal	legal	ADJ
ajeer-236	614	2	determinants	determinant	NOUN
ajeer-236	614	3	of	of	ADP
ajeer-236	614	4	external	external	ADJ
ajeer-236	614	5	finance	finance	NOUN
ajeer-236	614	6	.	.	PUNCT
ajeer-236	615	1	journal	journal	PROPN
ajeer-236	615	2	of	of	ADP
ajeer-236	615	3	finance	finance	NOUN
ajeer-236	615	4	,	,	PUNCT
ajeer-236	615	5	52(3	52(3	NUM
ajeer-236	615	6	):	):	PUNCT
ajeer-236	615	7	11311150	11311150	NUM
ajeer-236	615	8	.	.	PUNCT
ajeer-236	616	1	view	view	NOUN
ajeer-236	616	2	at	at	ADP
ajeer-236	616	3	google	google	PROPN
ajeer-236	616	4	scholar	scholar	NOUN
ajeer-236	616	5	|	|	ADV
ajeer-236	616	6	view	view	NOUN
ajeer-236	616	7	at	at	ADP
ajeer-236	616	8	publisher	publisher	NOUN
ajeer-236	616	9	la	la	PROPN
ajeer-236	616	10	porta	porta	PROPN
ajeer-236	616	11	,	,	PUNCT
ajeer-236	616	12	r.	r.	PROPN
ajeer-236	616	13	,	,	PUNCT
ajeer-236	616	14	f.	f.	PROPN
ajeer-236	616	15	lopez	lopez	PROPN
ajeer-236	616	16	-	-	PUNCT
ajeer-236	616	17	de	de	NOUN
ajeer-236	616	18	-	-	NOUN
ajeer-236	616	19	silanes	silane	NOUN
ajeer-236	616	20	,	,	PUNCT
ajeer-236	616	21	a.	a.	NOUN
ajeer-236	616	22	shleifer	shleifer	NOUN
ajeer-236	616	23	and	and	CCONJ
ajeer-236	616	24	r.w	r.w	PROPN
ajeer-236	616	25	.	.	PROPN
ajeer-236	616	26	vishny	vishny	PROPN
ajeer-236	616	27	,	,	PUNCT
ajeer-236	616	28	1998	1998	NUM
ajeer-236	616	29	.	.	PUNCT
ajeer-236	617	1	law	law	NOUN
ajeer-236	617	2	and	and	CCONJ
ajeer-236	617	3	finance	finance	NOUN
ajeer-236	617	4	.	.	PUNCT
ajeer-236	618	1	journal	journal	NOUN
ajeer-236	618	2	of	of	ADP
ajeer-236	618	3	political	political	ADJ
ajeer-236	618	4	economy	economy	NOUN
ajeer-236	618	5	,	,	PUNCT
ajeer-236	618	6	106(6	106(6	NUM
ajeer-236	618	7	):	):	PUNCT
ajeer-236	618	8	1113	1113	NUM
ajeer-236	618	9	-	-	SYM
ajeer-236	618	10	1155	1155	NUM
ajeer-236	618	11	.	.	PUNCT
ajeer-236	619	1	view	view	NOUN
ajeer-236	619	2	at	at	ADP
ajeer-236	619	3	google	google	PROPN
ajeer-236	619	4	scholar	scholar	NOUN
ajeer-236	619	5	lakonishok	lakonishok	NOUN
ajeer-236	619	6	,	,	PUNCT
ajeer-236	619	7	j.	j.	PROPN
ajeer-236	619	8	,	,	PUNCT
ajeer-236	619	9	a.	a.	NOUN
ajeer-236	619	10	shleifer	shleifer	PROPN
ajeer-236	619	11	and	and	CCONJ
ajeer-236	619	12	r.	r.	PROPN
ajeer-236	619	13	vishny	vishny	PROPN
ajeer-236	619	14	,	,	PUNCT
ajeer-236	619	15	1992	1992	NUM
ajeer-236	619	16	.	.	PUNCT
ajeer-236	620	1	the	the	DET
ajeer-236	620	2	impact	impact	NOUN
ajeer-236	620	3	of	of	ADP
ajeer-236	620	4	institutional	institutional	ADJ
ajeer-236	620	5	trading	trading	NOUN
ajeer-236	620	6	on	on	ADP
ajeer-236	620	7	stock	stock	NOUN
ajeer-236	620	8	prices	price	NOUN
ajeer-236	620	9	.	.	PUNCT
ajeer-236	621	1	journal	journal	NOUN
ajeer-236	621	2	of	of	ADP
ajeer-236	621	3	financial	financial	ADJ
ajeer-236	621	4	economics	economic	NOUN
ajeer-236	621	5	,	,	PUNCT
ajeer-236	621	6	32(1	32(1	NUM
ajeer-236	621	7	):	):	PUNCT
ajeer-236	621	8	23	23	NUM
ajeer-236	621	9	-	-	SYM
ajeer-236	621	10	43	43	NUM
ajeer-236	621	11	.	.	PUNCT
ajeer-236	622	1	view	view	NOUN
ajeer-236	622	2	at	at	ADP
ajeer-236	622	3	google	google	PROPN
ajeer-236	622	4	scholar	scholar	NOUN
ajeer-236	622	5	|	|	ADV
ajeer-236	622	6	view	view	NOUN
ajeer-236	622	7	at	at	ADP
ajeer-236	622	8	publisher	publisher	NOUN
ajeer-236	622	9	lakonishok	lakonishok	NOUN
ajeer-236	622	10	,	,	PUNCT
ajeer-236	622	11	j.	j.	PROPN
ajeer-236	622	12	and	and	CCONJ
ajeer-236	622	13	s.	s.	PROPN
ajeer-236	622	14	smidt	smidt	PROPN
ajeer-236	622	15	,	,	PUNCT
ajeer-236	622	16	1988	1988	NUM
ajeer-236	622	17	.	.	PUNCT
ajeer-236	623	1	are	be	AUX
ajeer-236	623	2	seasonal	seasonal	ADJ
ajeer-236	623	3	anomalies	anomaly	NOUN
ajeer-236	623	4	real	real	ADJ
ajeer-236	623	5	?	?	PUNCT
ajeer-236	624	1	a	a	DET
ajeer-236	624	2	ninety	ninety	NUM
ajeer-236	624	3	-	-	PUNCT
ajeer-236	624	4	year	year	NOUN
ajeer-236	624	5	perspective	perspective	NOUN
ajeer-236	624	6	.	.	PUNCT
ajeer-236	625	1	review	review	NOUN
ajeer-236	625	2	of	of	ADP
ajeer-236	625	3	financial	financial	ADJ
ajeer-236	625	4	studies	study	NOUN
ajeer-236	625	5	,	,	PUNCT
ajeer-236	625	6	1(4	1(4	NUM
ajeer-236	625	7	):	):	PUNCT
ajeer-236	625	8	403	403	NUM
ajeer-236	625	9	-	-	SYM
ajeer-236	625	10	425	425	NUM
ajeer-236	625	11	.	.	PUNCT
ajeer-236	625	12	view	view	NOUN
ajeer-236	625	13	at	at	ADP
ajeer-236	625	14	google	google	PROPN
ajeer-236	625	15	scholar	scholar	NOUN
ajeer-236	625	16	|	|	ADV
ajeer-236	625	17	view	view	NOUN
ajeer-236	625	18	at	at	ADP
ajeer-236	625	19	publisher	publisher	PROPN
ajeer-236	625	20	lan	lan	PROPN
ajeer-236	625	21	,	,	PUNCT
ajeer-236	625	22	y.-w	y.-w	PROPN
ajeer-236	625	23	.	.	PROPN
ajeer-236	625	24	,	,	PUNCT
ajeer-236	625	25	l.	l.	PROPN
ajeer-236	625	26	dan	dan	PROPN
ajeer-236	625	27	and	and	CCONJ
ajeer-236	625	28	l.	l.	PROPN
ajeer-236	625	29	lu	lu	PROPN
ajeer-236	625	30	,	,	PUNCT
ajeer-236	625	31	2014	2014	NUM
ajeer-236	625	32	.	.	PUNCT
ajeer-236	626	1	how	how	SCONJ
ajeer-236	626	2	to	to	PART
ajeer-236	626	3	invest	invest	VERB
ajeer-236	626	4	safely	safely	ADV
ajeer-236	626	5	in	in	ADP
ajeer-236	626	6	emerging	emerge	VERB
ajeer-236	626	7	markets	market	NOUN
ajeer-236	626	8	during	during	ADP
ajeer-236	626	9	the	the	DET
ajeer-236	626	10	global	global	ADJ
ajeer-236	626	11	financial	financial	ADJ
ajeer-236	626	12	crisis	crisis	NOUN
ajeer-236	626	13	:	:	PUNCT
ajeer-236	626	14	a	a	DET
ajeer-236	626	15	case	case	NOUN
ajeer-236	626	16	study	study	NOUN
ajeer-236	626	17	of	of	ADP
ajeer-236	626	18	taiwan	taiwan	PROPN
ajeer-236	626	19	.	.	PUNCT
ajeer-236	627	1	global	global	ADJ
ajeer-236	627	2	journal	journal	PROPN
ajeer-236	627	3	of	of	ADP
ajeer-236	627	4	management	management	NOUN
ajeer-236	627	5	and	and	CCONJ
ajeer-236	627	6	business	business	NOUN
ajeer-236	627	7	research	research	NOUN
ajeer-236	627	8	,	,	PUNCT
ajeer-236	627	9	14(4	14(4	NUM
ajeer-236	627	10	):	):	PUNCT
ajeer-236	627	11	29	29	NUM
ajeer-236	627	12	-	-	SYM
ajeer-236	627	13	41	41	NUM
ajeer-236	627	14	.	.	PUNCT
ajeer-236	628	1	lan	lan	PROPN
ajeer-236	628	2	,	,	PUNCT
ajeer-236	628	3	y.-w	y.-w	PROPN
ajeer-236	628	4	.	.	PROPN
ajeer-236	628	5	,	,	PUNCT
ajeer-236	628	6	d.	d.	PROPN
ajeer-236	628	7	lin	lin	PROPN
ajeer-236	628	8	and	and	CCONJ
ajeer-236	628	9	l.	l.	PROPN
ajeer-236	628	10	lin	lin	PROPN
ajeer-236	628	11	,	,	PUNCT
ajeer-236	628	12	2017	2017	NUM
ajeer-236	628	13	.	.	PUNCT
ajeer-236	629	1	how	how	SCONJ
ajeer-236	629	2	to	to	PART
ajeer-236	629	3	invest	invest	VERB
ajeer-236	629	4	in	in	ADP
ajeer-236	629	5	stocks	stock	NOUN
ajeer-236	629	6	of	of	ADP
ajeer-236	629	7	family	family	NOUN
ajeer-236	629	8	business	business	NOUN
ajeer-236	629	9	groups	group	NOUN
ajeer-236	629	10	?	?	PUNCT
ajeer-236	630	1	case	case	NOUN
ajeer-236	630	2	study	study	NOUN
ajeer-236	630	3	of	of	ADP
ajeer-236	630	4	walsin	walsin	NOUN
ajeer-236	630	5	group	group	NOUN
ajeer-236	630	6	in	in	ADP
ajeer-236	630	7	taiwan	taiwan	PROPN
ajeer-236	630	8	.	.	PUNCT
ajeer-236	631	1	research	research	NOUN
ajeer-236	631	2	in	in	ADP
ajeer-236	631	3	economics	economic	NOUN
ajeer-236	631	4	and	and	CCONJ
ajeer-236	631	5	management	management	NOUN
ajeer-236	631	6	,	,	PUNCT
ajeer-236	631	7	2(3	2(3	NUM
ajeer-236	631	8	):	):	PUNCT
ajeer-236	631	9	105	105	NUM
ajeer-236	631	10	-	-	SYM
ajeer-236	631	11	124	124	NUM
ajeer-236	631	12	.	.	PUNCT
ajeer-236	632	1	view	view	NOUN
ajeer-236	632	2	at	at	ADP
ajeer-236	632	3	google	google	PROPN
ajeer-236	632	4	scholar	scholar	NOUN
ajeer-236	632	5	|	|	ADV
ajeer-236	632	6	view	view	NOUN
ajeer-236	632	7	at	at	ADP
ajeer-236	632	8	publisher	publisher	NOUN
ajeer-236	632	9	https://scholar.google.com/scholar?hl=en&q=quantifying%20the%20relationship%20between%20financial%20news%20and%20the%20stock%20market	https://scholar.google.com/scholar?hl=en&q=quantifying%20the%20relationship%20between%20financial%20news%20and%20the%20stock%20market	PROPN
ajeer-236	632	10	http://dx.doi.org/10.1038/srep03578	http://dx.doi.org/10.1038/srep03578	PROPN
ajeer-236	632	11	https://scholar.google.com/scholar?hl=en&q=effect%20of%20global%20shocks%20and%20volatility%20on%20herd%20behavior%20in%20an%20emerging%20market:%20evidence%20from%20borsa%20istanbul	https://scholar.google.com/scholar?hl=en&q=effect%20of%20global%20shocks%20and%20volatility%20on%20herd%20behavior%20in%20an%20emerging%20market:%20evidence%20from%20borsa%20istanbul	PROPN
ajeer-236	633	1	http://dx.doi.org/10.1080/1540496x.2015.1011520	http://dx.doi.org/10.1080/1540496x.2015.1011520	NUM
ajeer-236	633	2	https://scholar.google.com/scholar?hl=en&q=the%20relation%20between%20return%20and%20market%20value%20of%20common%20stocks	https://scholar.google.com/scholar?hl=en&q=the%20relation%20between%20return%20and%20market%20value%20of%20common%20stock	NOUN
ajeer-236	633	3	https://scholar.google.com/scholar?hl=en&q=the%20relation%20between%20return%20and%20market%20value%20of%20common%20stocks	https://scholar.google.com/scholar?hl=en&q=the%20relation%20between%20return%20and%20market%20value%20of%20common%20stock	NOUN
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ajeer-236	656	8	market	market	NOUN
ajeer-236	656	9	efficiency	efficiency	NOUN
ajeer-236	656	10	.	.	PUNCT
ajeer-236	657	1	journal	journal	PROPN
ajeer-236	657	2	of	of	ADP
ajeer-236	657	3	finance	finance	NOUN
ajeer-236	657	4	,	,	PUNCT
ajeer-236	657	5	36(2	36(2	NUM
ajeer-236	657	6	):	):	PUNCT
ajeer-236	657	7	291–304	291–304	NUM
ajeer-236	657	8	.	.	PUNCT
ajeer-236	658	1	view	view	NOUN
ajeer-236	658	2	at	at	ADP
ajeer-236	658	3	google	google	PROPN
ajeer-236	658	4	scholar	scholar	NOUN
ajeer-236	658	5	|	|	ADV
ajeer-236	658	6	view	view	NOUN
ajeer-236	658	7	at	at	ADP
ajeer-236	658	8	publisher	publisher	NOUN
ajeer-236	658	9	shleifer	shleifer	NOUN
ajeer-236	658	10	,	,	PUNCT
ajeer-236	658	11	a.	a.	NOUN
ajeer-236	658	12	and	and	CCONJ
ajeer-236	658	13	r.w	r.w	PROPN
ajeer-236	658	14	.	.	PROPN
ajeer-236	658	15	vishny	vishny	PROPN
ajeer-236	658	16	,	,	PUNCT
ajeer-236	658	17	1997	1997	NUM
ajeer-236	658	18	.	.	PUNCT
ajeer-236	659	1	a	a	DET
ajeer-236	659	2	survey	survey	NOUN
ajeer-236	659	3	of	of	ADP
ajeer-236	659	4	corporate	corporate	ADJ
ajeer-236	659	5	governance	governance	NOUN
ajeer-236	659	6	.	.	PUNCT
ajeer-236	660	1	journal	journal	NOUN
ajeer-236	660	2	of	of	ADP
ajeer-236	660	3	finance	finance	NOUN
ajeer-236	660	4	,	,	PUNCT
ajeer-236	660	5	52(2	52(2	NUM
ajeer-236	660	6	):	):	PUNCT
ajeer-236	660	7	737	737	NUM
ajeer-236	660	8	-	-	SYM
ajeer-236	660	9	783	783	NUM
ajeer-236	660	10	.	.	PUNCT
ajeer-236	661	1	view	view	NOUN
ajeer-236	661	2	at	at	ADP
ajeer-236	661	3	google	google	PROPN
ajeer-236	661	4	scholar	scholar	NOUN
ajeer-236	661	5	|	|	ADV
ajeer-236	661	6	view	view	NOUN
ajeer-236	661	7	at	at	ADP
ajeer-236	661	8	publisher	publisher	NOUN
ajeer-236	661	9	silverman	silverman	PROPN
ajeer-236	661	10	,	,	PUNCT
ajeer-236	661	11	b.w	b.w	PROPN
ajeer-236	661	12	.	.	PROPN
ajeer-236	661	13	,	,	PUNCT
ajeer-236	661	14	1986	1986	NUM
ajeer-236	661	15	.	.	PUNCT
ajeer-236	662	1	density	density	NOUN
ajeer-236	662	2	estimation	estimation	NOUN
ajeer-236	662	3	for	for	ADP
ajeer-236	662	4	statistics	statistic	NOUN
ajeer-236	662	5	and	and	CCONJ
ajeer-236	662	6	data	datum	NOUN
ajeer-236	662	7	analysis	analysis	NOUN
ajeer-236	662	8	.	.	PUNCT
ajeer-236	663	1	n.y	n.y	PROPN
ajeer-236	663	2	:	:	PUNCT
ajeer-236	663	3	chapman	chapman	NOUN
ajeer-236	663	4	and	and	CCONJ
ajeer-236	663	5	hall	hall	PROPN
ajeer-236	663	6	.	.	PUNCT
ajeer-236	664	1	tsai	tsai	PROPN
ajeer-236	664	2	,	,	PUNCT
ajeer-236	664	3	w.-h	w.-h	NOUN
ajeer-236	664	4	.	.	PUNCT
ajeer-236	664	5	,	,	PUNCT
ajeer-236	664	6	1997	1997	NUM
ajeer-236	664	7	.	.	PUNCT
ajeer-236	665	1	the	the	DET
ajeer-236	665	2	political	political	ADJ
ajeer-236	665	3	-	-	PUNCT
ajeer-236	665	4	economic	economic	ADJ
ajeer-236	665	5	analysis	analysis	NOUN
ajeer-236	665	6	about	about	ADP
ajeer-236	665	7	the	the	DET
ajeer-236	665	8	development	development	NOUN
ajeer-236	665	9	of	of	ADP
ajeer-236	665	10	taiwan‟s	taiwan‟s	NOUN
ajeer-236	665	11	petrochemical	petrochemical	NOUN
ajeer-236	665	12	industry	industry	NOUN
ajeer-236	665	13	(	(	PUNCT
ajeer-236	665	14	1945	1945	NUM
ajeer-236	665	15	-	-	SYM
ajeer-236	665	16	1984	1984	NUM
ajeer-236	665	17	)	)	PUNCT
ajeer-236	665	18	.	.	PUNCT
ajeer-236	666	1	soochow	soochow	PROPN
ajeer-236	666	2	journal	journal	PROPN
ajeer-236	666	3	of	of	ADP
ajeer-236	666	4	political	political	ADJ
ajeer-236	666	5	science	science	NOUN
ajeer-236	666	6	,	,	PUNCT
ajeer-236	666	7	8	8	NUM
ajeer-236	666	8	:	:	SYM
ajeer-236	666	9	157	157	NUM
ajeer-236	666	10	-	-	SYM
ajeer-236	666	11	224	224	NUM
ajeer-236	666	12	.	.	PUNCT
ajeer-236	667	1	wermers	wermer	NOUN
ajeer-236	667	2	,	,	PUNCT
ajeer-236	667	3	r.	r.	PROPN
ajeer-236	667	4	,	,	PUNCT
ajeer-236	667	5	1999	1999	NUM
ajeer-236	667	6	.	.	PUNCT
ajeer-236	668	1	mutual	mutual	ADJ
ajeer-236	668	2	fund	fund	NOUN
ajeer-236	668	3	herding	herding	NOUN
ajeer-236	668	4	and	and	CCONJ
ajeer-236	668	5	the	the	DET
ajeer-236	668	6	impact	impact	NOUN
ajeer-236	668	7	on	on	ADP
ajeer-236	668	8	stock	stock	NOUN
ajeer-236	668	9	prices	price	NOUN
ajeer-236	668	10	.	.	PUNCT
ajeer-236	669	1	journal	journal	PROPN
ajeer-236	669	2	of	of	ADP
ajeer-236	669	3	finance	finance	NOUN
ajeer-236	669	4	,	,	PUNCT
ajeer-236	669	5	54(2	54(2	NUM
ajeer-236	669	6	):	):	PUNCT
ajeer-236	669	7	581	581	NUM
ajeer-236	669	8	-	-	SYM
ajeer-236	669	9	622	622	NUM
ajeer-236	669	10	.	.	PUNCT
ajeer-236	670	1	view	view	NOUN
ajeer-236	670	2	at	at	ADP
ajeer-236	670	3	google	google	PROPN
ajeer-236	670	4	scholar	scholar	NOUN
ajeer-236	670	5	|	|	ADV
ajeer-236	670	6	view	view	NOUN
ajeer-236	670	7	at	at	ADP
ajeer-236	670	8	publisher	publisher	PROPN
ajeer-236	670	9	williams	williams	PROPN
ajeer-236	670	10	,	,	PUNCT
ajeer-236	670	11	l.	l.	PROPN
ajeer-236	670	12	,	,	PUNCT
ajeer-236	670	13	1999	1999	NUM
ajeer-236	670	14	.	.	PUNCT
ajeer-236	671	1	long	long	ADJ
ajeer-236	671	2	-	-	PUNCT
ajeer-236	671	3	term	term	NOUN
ajeer-236	671	4	secrets	secret	NOUN
ajeer-236	671	5	to	to	ADP
ajeer-236	671	6	short	short	ADJ
ajeer-236	671	7	-	-	PUNCT
ajeer-236	671	8	term	term	NOUN
ajeer-236	671	9	trading	trading	NOUN
ajeer-236	671	10	.	.	PUNCT
ajeer-236	672	1	n.y	n.y	PROPN
ajeer-236	672	2	:	:	PUNCT
ajeer-236	672	3	john	john	PROPN
ajeer-236	672	4	wiley	wiley	PROPN
ajeer-236	672	5	&	&	CCONJ
ajeer-236	672	6	sons	sons	PROPN
ajeer-236	672	7	,	,	PUNCT
ajeer-236	672	8	inc	inc	PROPN
ajeer-236	672	9	.	.	PROPN
ajeer-236	672	10	appendixes	appendixes	PROPN
ajeer-236	672	11	appendix-1	appendix-1	PROPN
ajeer-236	672	12	.	.	PUNCT
ajeer-236	673	1	the	the	DET
ajeer-236	673	2	basic	basic	ADJ
ajeer-236	673	3	information	information	NOUN
ajeer-236	673	4	of	of	ADP
ajeer-236	673	5	formosa	formosa	PROPN
ajeer-236	673	6	plastics	plastic	NOUN
ajeer-236	673	7	group	group	NOUN
ajeer-236	673	8	and	and	CCONJ
ajeer-236	673	9	far	far	ADV
ajeer-236	673	10	eastern	eastern	ADJ
ajeer-236	673	11	group	group	NOUN
ajeer-236	673	12	unit	unit	NOUN
ajeer-236	673	13	:	:	PUNCT
ajeer-236	673	14	$	$	SYM
ajeer-236	673	15	,	,	PUNCT
ajeer-236	673	16	%	%	INTJ
ajeer-236	673	17	,	,	PUNCT
ajeer-236	673	18	„	„	PUNCT
ajeer-236	673	19	000	000	NUM
ajeer-236	673	20	million	million	NUM
ajeer-236	673	21	business	business	NOUN
ajeer-236	673	22	group	group	NOUN
ajeer-236	673	23	code	code	NOUN
ajeer-236	673	24	company	company	NOUN
ajeer-236	673	25	name	name	NOUN
ajeer-236	673	26	year	year	NOUN
ajeer-236	673	27	establish	establish	VERB
ajeer-236	673	28	industry	industry	NOUN
ajeer-236	673	29	classification	classification	NOUN
ajeer-236	673	30	(	(	PUNCT
ajeer-236	673	31	correlation	correlation	NOUN
ajeer-236	673	32	coefficient	coefficient	NOUN
ajeer-236	673	33	*	*	NOUN
ajeer-236	673	34	)	)	PUNCT
ajeer-236	673	35	stock	stock	NOUN
ajeer-236	673	36	price	price	NOUN
ajeer-236	673	37	(	(	PUNCT
ajeer-236	673	38	2017.8.10	2017.8.10	NUM
ajeer-236	673	39	)	)	PUNCT
ajeer-236	673	40	net	net	ADJ
ajeer-236	673	41	profits	profit	NOUN
ajeer-236	673	42	(	(	PUNCT
ajeer-236	673	43	2016	2016	NUM
ajeer-236	673	44	)	)	PUNCT
ajeer-236	673	45	eps	eps	PROPN
ajeer-236	673	46	(	(	PUNCT
ajeer-236	673	47	2016	2016	NUM
ajeer-236	673	48	)	)	PUNCT
ajeer-236	673	49	market	market	NOUN
ajeer-236	673	50	value	value	NOUN
ajeer-236	673	51	(	(	PUNCT
ajeer-236	673	52	7.21	7.21	NUM
ajeer-236	673	53	)	)	PUNCT
ajeer-236	673	54	stock	stock	NOUN
ajeer-236	673	55	holdings	holding	NOUN
ajeer-236	673	56	(	(	PUNCT
ajeer-236	673	57	%	%	INTJ
ajeer-236	673	58	)	)	PUNCT
ajeer-236	673	59	board	board	NOUN
ajeer-236	673	60	chairman	chairman	PROPN
ajeer-236	673	61	formosa	formosa	PROPN
ajeer-236	673	62	plastics	plastics	PROPN
ajeer-236	673	63	group	group	NOUN
ajeer-236	673	64	1301	1301	NUM
ajeer-236	673	65	formosa	formosa	PROPN
ajeer-236	673	66	plastics	plastic	NOUN
ajeer-236	673	67	1954	1954	NUM
ajeer-236	673	68	plastics	plastic	NOUN
ajeer-236	673	69	(	(	PUNCT
ajeer-236	673	70	6.78	6.78	NUM
ajeer-236	673	71	)	)	PUNCT
ajeer-236	673	72	92.6	92.6	NUM
ajeer-236	673	73	394	394	NUM
ajeer-236	673	74	6.19	6.19	NUM
ajeer-236	673	75	5825	5825	NUM
ajeer-236	673	76	36	36	NUM
ajeer-236	673	77	lin	lin	PROPN
ajeer-236	673	78	jian	jian	PROPN
ajeer-236	673	79	nan	nan	PROPN
ajeer-236	673	80	1303	1303	NUM
ajeer-236	673	81	na	na	ADP
ajeer-236	673	82	ya	ya	PROPN
ajeer-236	673	83	plastics	plastic	NOUN
ajeer-236	673	84	1958	1958	NUM
ajeer-236	673	85	plastics	plastic	NOUN
ajeer-236	673	86	(	(	PUNCT
ajeer-236	673	87	6.78	6.78	NUM
ajeer-236	673	88	)	)	PUNCT
ajeer-236	673	89	75.4	75.4	NUM
ajeer-236	673	90	484	484	NUM
ajeer-236	673	91	6.16	6.16	NUM
ajeer-236	673	92	5932	5932	NUM
ajeer-236	673	93	43	43	NUM
ajeer-236	673	94	wu	wu	PROPN
ajeer-236	673	95	jia	jia	PROPN
ajeer-236	673	96	zhao	zhao	PROPN
ajeer-236	673	97	1326	1326	NUM
ajeer-236	673	98	formosa	formosa	PROPN
ajeer-236	673	99	chemicals	chemical	NOUN
ajeer-236	673	100	&	&	CCONJ
ajeer-236	673	101	fibre	fibre	PROPN
ajeer-236	673	102	1965	1965	NUM
ajeer-236	673	103	plastics	plastic	NOUN
ajeer-236	673	104	(	(	PUNCT
ajeer-236	673	105	6.78	6.78	NUM
ajeer-236	673	106	)	)	PUNCT
ajeer-236	673	107	91.5	91.5	NUM
ajeer-236	673	108	438	438	NUM
ajeer-236	673	109	7.5	7.5	NUM
ajeer-236	673	110	5322	5322	NUM
ajeer-236	673	111	47	47	NUM
ajeer-236	673	112	wang	wang	PROPN
ajeer-236	673	113	wen	wen	PROPN
ajeer-236	673	114	yuan	yuan	PROPN
ajeer-236	673	115	1434	1434	NUM
ajeer-236	673	116	formosa	formosa	PROPN
ajeer-236	673	117	taffeta	taffeta	PROPN
ajeer-236	673	118	1973	1973	NUM
ajeer-236	673	119	textile	textile	NOUN
ajeer-236	673	120	(	(	PUNCT
ajeer-236	673	121	6.76	6.76	NUM
ajeer-236	673	122	)	)	PUNCT
ajeer-236	673	123	29.7	29.7	NUM
ajeer-236	673	124	35	35	NUM
ajeer-236	673	125	2.07	2.07	NUM
ajeer-236	673	126	535	535	NUM
ajeer-236	673	127	37	37	NUM
ajeer-236	673	128	wang	wang	PROPN
ajeer-236	673	129	wen	wen	PROPN
ajeer-236	673	130	yuan	yuan	PROPN
ajeer-236	673	131	2408	2408	NUM
ajeer-236	673	132	nanya	nanya	PROPN
ajeer-236	673	133	technology	technology	NOUN
ajeer-236	673	134	1995	1995	NUM
ajeer-236	673	135	electronic	electronic	ADJ
ajeer-236	673	136	(	(	PUNCT
ajeer-236	673	137	7.32	7.32	NUM
ajeer-236	673	138	)	)	PUNCT
ajeer-236	673	139	60.5	60.5	NUM
ajeer-236	673	140	237	237	NUM
ajeer-236	673	141	8.67	8.67	NUM
ajeer-236	673	142	1740	1740	NUM
ajeer-236	673	143	33	33	NUM
ajeer-236	673	144	wu	wu	PROPN
ajeer-236	673	145	jia	jia	PROPN
ajeer-236	673	146	zhao	zhao	PROPN
ajeer-236	673	147	3532	3532	NUM
ajeer-236	674	1	formosa	formosa	PROPN
ajeer-236	674	2	sumco	sumco	PROPN
ajeer-236	674	3	technology	technology	NOUN
ajeer-236	674	4	1995	1995	NUM
ajeer-236	674	5	electronic	electronic	ADJ
ajeer-236	674	6	(	(	PUNCT
ajeer-236	674	7	7.32	7.32	NUM
ajeer-236	674	8	)	)	PUNCT
ajeer-236	674	9	88.5	88.5	NUM
ajeer-236	674	10	7	7	NUM
ajeer-236	674	11	0.94	0.94	NUM
ajeer-236	674	12	691	691	NUM
ajeer-236	674	13	29	29	NUM
ajeer-236	674	14	lin	lin	PROPN
ajeer-236	674	15	jian	jian	PROPN
ajeer-236	674	16	nan	nan	PROPN
ajeer-236	674	17	6505	6505	NUM
ajeer-236	674	18	formosa	formosa	PROPN
ajeer-236	674	19	petrochemical	petrochemical	PROPN
ajeer-236	674	20	1992	1992	NUM
ajeer-236	674	21	oil	oil	NOUN
ajeer-236	674	22	and	and	CCONJ
ajeer-236	674	23	electricity	electricity	NOUN
ajeer-236	674	24	(	(	PUNCT
ajeer-236	674	25	13.16	13.16	NUM
ajeer-236	674	26	)	)	PUNCT
ajeer-236	674	27	103.5	103.5	NUM
ajeer-236	674	28	758	758	NUM
ajeer-236	674	29	7.95	7.95	NUM
ajeer-236	674	30	10002	10002	NUM
ajeer-236	674	31	76	76	NUM
ajeer-236	674	32	chen	chen	PROPN
ajeer-236	674	33	bao	bao	PROPN
ajeer-236	674	34	lang	lang	PROPN
ajeer-236	674	35	8046	8046	NUM
ajeer-236	675	1	nan	nan	PROPN
ajeer-236	675	2	ya	ya	PROPN
ajeer-236	675	3	printed	print	VERB
ajeer-236	675	4	circuit	circuit	PROPN
ajeer-236	675	5	board	board	PROPN
ajeer-236	675	6	1997	1997	NUM
ajeer-236	675	7	electronic	electronic	ADJ
ajeer-236	675	8	(	(	PUNCT
ajeer-236	675	9	7.32	7.32	NUM
ajeer-236	675	10	)	)	PUNCT
ajeer-236	675	11	23.35	23.35	NUM
ajeer-236	675	12	-7	-7	NOUN
ajeer-236	675	13	-1.07	-1.07	NOUN
ajeer-236	675	14	158	158	NUM
ajeer-236	675	15	67	67	NUM
ajeer-236	675	16	wu	wu	PROPN
ajeer-236	675	17	jia	jia	PROPN
ajeer-236	675	18	zhao	zhao	PROPN
ajeer-236	675	19	8131	8131	NUM
ajeer-236	675	20	formosa	formosa	PROPN
ajeer-236	675	21	advanced	advance	VERB
ajeer-236	675	22	technologies	technology	NOUN
ajeer-236	675	23	1990	1990	NUM
ajeer-236	675	24	electronic	electronic	ADJ
ajeer-236	675	25	(	(	PUNCT
ajeer-236	675	26	7.32	7.32	NUM
ajeer-236	675	27	)	)	PUNCT
ajeer-236	675	28	27.2	27.2	NUM
ajeer-236	675	29	10	10	NUM
ajeer-236	675	30	2.31	2.31	NUM
ajeer-236	675	31	121	121	NUM
ajeer-236	675	32	66	66	NUM
ajeer-236	675	33	wang	wang	PROPN
ajeer-236	675	34	wen	wen	PROPN
ajeer-236	675	35	yuan	yuan	PROPN
ajeer-236	675	36	far	far	ADV
ajeer-236	675	37	eastern	eastern	ADJ
ajeer-236	675	38	group	group	NOUN
ajeer-236	675	39	1102	1102	NUM
ajeer-236	675	40	asia	asia	PROPN
ajeer-236	675	41	cement	cement	NOUN
ajeer-236	675	42	1957	1957	NUM
ajeer-236	675	43	cement	cement	NOUN
ajeer-236	675	44	(	(	PUNCT
ajeer-236	675	45	14.8	14.8	NUM
ajeer-236	675	46	)	)	PUNCT
ajeer-236	675	47	26.55	26.55	NUM
ajeer-236	675	48	39	39	NUM
ajeer-236	675	49	1.26	1.26	NUM
ajeer-236	675	50	889	889	NUM
ajeer-236	675	51	22	22	NUM
ajeer-236	676	1	xu	xu	INTJ
ajeer-236	676	2	xu	xu	PROPN
ajeer-236	677	1	dong	dong	PROPN
ajeer-236	677	2	1402	1402	NUM
ajeer-236	677	3	far	far	ADV
ajeer-236	677	4	eastern	eastern	ADJ
ajeer-236	677	5	new	new	ADJ
ajeer-236	677	6	century	century	NOUN
ajeer-236	677	7	1954	1954	NUM
ajeer-236	677	8	textile	textile	NOUN
ajeer-236	677	9	(	(	PUNCT
ajeer-236	677	10	6.76	6.76	NUM
ajeer-236	677	11	)	)	PUNCT
ajeer-236	677	12	24.35	24.35	NUM
ajeer-236	677	13	63	63	NUM
ajeer-236	677	14	1.26	1.26	NUM
ajeer-236	677	15	1314	1314	NUM
ajeer-236	677	16	24	24	NUM
ajeer-236	678	1	xu	xu	INTJ
ajeer-236	678	2	xu	xu	PROPN
ajeer-236	679	1	dong	dong	PROPN
ajeer-236	679	2	1460	1460	NUM
ajeer-236	679	3	everest	everest	PROPN
ajeer-236	679	4	textile	textile	NOUN
ajeer-236	679	5	1988	1988	NUM
ajeer-236	679	6	textile	textile	NOUN
ajeer-236	679	7	(	(	PUNCT
ajeer-236	679	8	6.76	6.76	NUM
ajeer-236	679	9	)	)	PUNCT
ajeer-236	679	10	26.1	26.1	NUM
ajeer-236	679	11	5	5	NUM
ajeer-236	679	12	1.2	1.2	NUM
ajeer-236	679	13	77	77	NUM
ajeer-236	679	14	25	25	NUM
ajeer-236	679	15	xi	xi	X
ajeer-236	679	16	jia	jia	PROPN
ajeer-236	679	17	yi	yi	PROPN
ajeer-236	679	18	1710	1710	NUM
ajeer-236	679	19	oriental	oriental	PROPN
ajeer-236	679	20	union	union	PROPN
ajeer-236	679	21	chemical	chemical	PROPN
ajeer-236	679	22	1975	1975	NUM
ajeer-236	679	23	chemical	chemical	NOUN
ajeer-236	679	24	(	(	PUNCT
ajeer-236	679	25	7.61	7.61	NUM
ajeer-236	679	26	)	)	PUNCT
ajeer-236	679	27	26.1	26.1	NUM
ajeer-236	680	1	-6	-6	NOUN
ajeer-236	680	2	-0.63	-0.63	NUM
ajeer-236	680	3	255	255	NUM
ajeer-236	680	4	43	43	NUM
ajeer-236	681	1	xu	xu	INTJ
ajeer-236	681	2	xu	xu	PROPN
ajeer-236	682	1	dong	dong	PROPN
ajeer-236	682	2	2606	2606	NUM
ajeer-236	682	3	u	u	PROPN
ajeer-236	682	4	-	-	ADJ
ajeer-236	682	5	ming	ming	ADJ
ajeer-236	682	6	marine	marine	PROPN
ajeer-236	682	7	1968	1968	NUM
ajeer-236	682	8	shipping	shipping	NOUN
ajeer-236	682	9	(	(	PUNCT
ajeer-236	682	10	6.13	6.13	NUM
ajeer-236	682	11	)	)	PUNCT
ajeer-236	682	12	32.8	32.8	NUM
ajeer-236	682	13	-8	-8	NOUN
ajeer-236	682	14	-1.04	-1.04	NOUN
ajeer-236	682	15	270	270	NUM
ajeer-236	682	16	39	39	NUM
ajeer-236	683	1	xu	xu	INTJ
ajeer-236	683	2	xu	xu	PROPN
ajeer-236	684	1	dong	dong	PROPN
ajeer-236	684	2	2845	2845	NUM
ajeer-236	684	3	far	far	ADV
ajeer-236	684	4	eastern	eastern	PROPN
ajeer-236	684	5	international	international	PROPN
ajeer-236	684	6	bank	bank	PROPN
ajeer-236	684	7	1992	1992	NUM
ajeer-236	684	8	finance	finance	NOUN
ajeer-236	684	9	(	(	PUNCT
ajeer-236	684	10	4.64	4.64	NUM
ajeer-236	684	11	)	)	PUNCT
ajeer-236	684	12	9.93	9.93	NUM
ajeer-236	684	13	32	32	NUM
ajeer-236	684	14	1.04	1.04	NUM
ajeer-236	684	15	309	309	NUM
ajeer-236	684	16	42	42	NUM
ajeer-236	685	1	hou	hou	NOUN
ajeer-236	685	2	jin	jin	PROPN
ajeer-236	685	3	ying	ying	PROPN
ajeer-236	685	4	2903	2903	NUM
ajeer-236	685	5	far	far	ADV
ajeer-236	685	6	eastern	eastern	PROPN
ajeer-236	685	7	department	department	PROPN
ajeer-236	685	8	stores	stores	PROPN
ajeer-236	685	9	1967	1967	NUM
ajeer-236	685	10	department	department	NOUN
ajeer-236	685	11	store	store	NOUN
ajeer-236	685	12	(	(	PUNCT
ajeer-236	685	13	3.43	3.43	NUM
ajeer-236	685	14	)	)	PUNCT
ajeer-236	685	15	15.1	15.1	NUM
ajeer-236	685	16	11	11	NUM
ajeer-236	685	17	0.81	0.81	NUM
ajeer-236	685	18	215	215	NUM
ajeer-236	685	19	40	40	NUM
ajeer-236	686	1	xu	xu	NUM
ajeer-236	686	2	xu	xu	PROPN
ajeer-236	687	1	dong	dong	PROPN
ajeer-236	687	2	4904	4904	NUM
ajeer-236	687	3	far	far	ADV
ajeer-236	687	4	estone	estone	NOUN
ajeer-236	687	5	telecommunications	telecommunications	NOUN
ajeer-236	687	6	1997	1997	NUM
ajeer-236	687	7	telecommunication	telecommunication	NOUN
ajeer-236	687	8	(	(	PUNCT
ajeer-236	687	9	3.62	3.62	NUM
ajeer-236	687	10	)	)	PUNCT
ajeer-236	687	11	73.3	73.3	NUM
ajeer-236	687	12	114	114	NUM
ajeer-236	687	13	3.5	3.5	NUM
ajeer-236	687	14	2395	2395	NUM
ajeer-236	687	15	38	38	NUM
ajeer-236	688	1	xu	xu	NUM
ajeer-236	688	2	xu	xu	PROPN
ajeer-236	689	1	dong	dong	PROPN
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ajeer-236	689	9	correlation	correlation	NOUN
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ajeer-236	689	12	http://www.dgbas.gov.tw/lp.asp?ctnode=2340&ctunit=1088&basedsd=7&mp=1	http://www.dgbas.gov.tw/lp.asp?ctnode=2340&ctunit=1088&basedsd=7&mp=1	PROPN
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ajeer-236	689	19	in	in	ADP
ajeer-236	689	20			NUM
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ajeer-236	689	24	model	model	PROPN
ajeer-236	689	25	formosa	formosa	PROPN
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ajeer-236	689	27	group	group	NOUN
ajeer-236	689	28	far	far	ADV
ajeer-236	689	29	eastern	eastern	ADJ
ajeer-236	689	30	group	group	NOUN
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ajeer-236	689	32	coefficient	coefficient	PROPN
ajeer-236	689	33	std	std	PROPN
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ajeer-236	690	1	t	t	PROPN
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ajeer-236	691	1	t	t	PROPN
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ajeer-236	691	6	0.0075	0.0075	NUM
ajeer-236	691	7	3.52	3.52	NUM
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ajeer-236	691	9	0.0003	0.0003	NUM
ajeer-236	691	10	105.16	105.16	NUM
ajeer-236	691	11	excluding	exclude	VERB
ajeer-236	691	12	leading	lead	VERB
ajeer-236	691	13	company	company	NOUN
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ajeer-236	691	15	0.0076	0.0076	NUM
ajeer-236	691	16	0.0823	0.0823	NUM
ajeer-236	691	17	0.0456	0.0456	NUM
ajeer-236	691	18	asian	asian	ADJ
ajeer-236	691	19	online	online	ADJ
ajeer-236	691	20	journal	journal	PROPN
ajeer-236	691	21	publishing	publishing	NOUN
ajeer-236	691	22	group	group	NOUN
ajeer-236	691	23	is	be	AUX
ajeer-236	691	24	not	not	PART
ajeer-236	691	25	responsible	responsible	ADJ
ajeer-236	691	26	or	or	CCONJ
ajeer-236	691	27	answerable	answerable	ADJ
ajeer-236	691	28	for	for	ADP
ajeer-236	691	29	any	any	DET
ajeer-236	691	30	loss	loss	NOUN
ajeer-236	691	31	,	,	PUNCT
ajeer-236	691	32	damage	damage	NOUN
ajeer-236	691	33	or	or	CCONJ
ajeer-236	691	34	liability	liability	NOUN
ajeer-236	691	35	,	,	PUNCT
ajeer-236	691	36	etc	etc	X
ajeer-236	691	37	.	.	X
ajeer-236	691	38	caused	cause	VERB
ajeer-236	691	39	in	in	ADP
ajeer-236	691	40	relation	relation	NOUN
ajeer-236	691	41	to	to	PART
ajeer-236	691	42	/	/	PUNCT
ajeer-236	691	43	arising	arise	VERB
ajeer-236	691	44	out	out	ADP
ajeer-236	691	45	of	of	ADP
ajeer-236	691	46	the	the	DET
ajeer-236	691	47	use	use	NOUN
ajeer-236	691	48	of	of	ADP
ajeer-236	691	49	the	the	DET
ajeer-236	691	50	content	content	NOUN
ajeer-236	691	51	.	.	PUNCT
ajeer-236	692	1	any	any	DET
ajeer-236	692	2	queries	query	NOUN
ajeer-236	692	3	should	should	AUX
ajeer-236	692	4	be	be	AUX
ajeer-236	692	5	directed	direct	VERB
ajeer-236	692	6	to	to	ADP
ajeer-236	692	7	the	the	DET
ajeer-236	692	8	corresponding	corresponding	ADJ
ajeer-236	692	9	author	author	NOUN
ajeer-236	692	10	of	of	ADP
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ajeer-236	692	12	article	article	NOUN
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ajeer-236	693	1	https://scholar.google.com/scholar?hl=en&q=conditional%20heteroskedasticity%20in%20asset%20returns:%20a%20new%20approach	https://scholar.google.com/scholar?hl=en&q=conditional%20heteroskedasticity%20in%20asset%20returns:%20a%20new%20approach	VERB
ajeer-236	693	2	http://dx.doi.org/10.2307/2938260	http://dx.doi.org/10.2307/2938260	NOUN
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ajeer-236	693	4	https://scholar.google.com/scholar?hl=en&q=diversification%20strategy,%20profit%20performance%20and%20the%20entropy%20measure	https://scholar.google.com/scholar?hl=en&q=diversification%20strategy,%20profit%20performance%20and%20the%20entropy%20measure	PROPN
ajeer-236	693	5	https://scholar.google.com/scholar?hl=en&q=diversification%20strategy,%20profit%20performance%20and%20the%20entropy%20measure	https://scholar.google.com/scholar?hl=en&q=diversification%20strategy,%20profit%20performance%20and%20the%20entropy%20measure	NOUN
ajeer-236	693	6	http://dx.doi.org/10.1002/smj.4250060305	http://dx.doi.org/10.1002/smj.4250060305	VERB
ajeer-236	693	7	https://scholar.google.com/scholar?hl=en&q=proof%20that%20properly%20anticipated%20prices%20fluctuate%20randomly	https://scholar.google.com/scholar?hl=en&q=proof%20that%20properly%20anticipated%20prices%20fluctuate%20randomly	ADV
ajeer-236	693	8	https://scholar.google.com/scholar?hl=en&q=herd%20behavior%20and%20investment	https://scholar.google.com/scholar?hl=en&q=herd%20behavior%20and%20investment	PROPN
ajeer-236	693	9	https://scholar.google.com/scholar?hl=en&q=the%20volatility%20of%20long-term%20interest%20rates%20and%20expectations%20models%20of%20the%20term%20structure	https://scholar.google.com/scholar?hl=en&q=the%20volatility%20of%20long-term%20interest%20rates%20and%20expectations%20models%20of%20the%20term%20structure	PROPN
ajeer-236	693	10	http://dx.doi.org/10.1086/260832	http://dx.doi.org/10.1086/260832	PROPN
ajeer-236	693	11	https://scholar.google.com/scholar?hl=en&q=the%20use%20of%20volatility%20measures%20in%20assessing%20market%20efficiency	https://scholar.google.com/scholar?hl=en&q=the%20use%20of%20volatility%20measures%20in%20assessing%20market%20efficiency	PROPN
ajeer-236	693	12	http://dx.doi.org/10.2307/2327010	http://dx.doi.org/10.2307/2327010	PROPN
ajeer-236	693	13	http://dx.doi.org/10.2307/2327010	http://dx.doi.org/10.2307/2327010	PROPN
ajeer-236	693	14	https://scholar.google.com/scholar?hl=en&q=a%20survey%20of%20corporate%20governance	https://scholar.google.com/scholar?hl=en&q=a%20survey%20of%20corporate%20governance	PROPN
ajeer-236	693	15	http://dx.doi.org/10.1111/j.1540-6261.1997.tb04820.x	http://dx.doi.org/10.1111/j.1540-6261.1997.tb04820.x	PROPN
ajeer-236	693	16	https://scholar.google.com/scholar?hl=en&q=mutual%20fund%20herding%20and%20the%20impact%20on%20stock%20prices	https://scholar.google.com/scholar?hl=en&q=mutual%20fund%20herding%20and%20the%20impact%20on%20stock%20price	NOUN
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ajeer-236	693	18	http://www.dgbas.gov.tw/lp.asp?ctnode=2340&ctunit=1088&basedsd=7&mp=1	http://www.dgbas.gov.tw/lp.asp?ctnode=2340&ctunit=1088&basedsd=7&mp=1	NOUN