id	sid	tid	token	lemma	pos
ajfa-10056	1	1	microsoft	microsoft	PROPN
ajfa-10056	1	2	word	word	NOUN
ajfa-10056	1	3	10056	10056	NUM
ajfa-10056	1	4	-	-	SYM
ajfa-10056	1	5	36955	36955	NUM
ajfa-10056	1	6	-	-	SYM
ajfa-10056	1	7	1	1	NUM
ajfa-10056	1	8	-	-	PUNCT
ajfa-10056	1	9	sm	sm	NOUN
ajfa-10056	1	10	_	_	PUNCT
ajfa-10056	1	11	1_-writer2	1_-writer2	NUM
ajfa-10056	1	12	-	-	PUNCT
ajfa-10056	1	13	new2	new2	ADJ
ajfa-10056	1	14	asian	asian	ADJ
ajfa-10056	1	15	journal	journal	NOUN
ajfa-10056	1	16	of	of	ADP
ajfa-10056	1	17	finance	finance	PROPN
ajfa-10056	1	18	&	&	CCONJ
ajfa-10056	1	19	accounting	accounting	PROPN
ajfa-10056	1	20	issn	issn	PROPN
ajfa-10056	1	21	1946	1946	NUM
ajfa-10056	1	22	-	-	PUNCT
ajfa-10056	1	23	052x	052x	PROPN
ajfa-10056	1	24	2016	2016	NUM
ajfa-10056	1	25	,	,	PUNCT
ajfa-10056	1	26	vol	vol	NOUN
ajfa-10056	1	27	.	.	PROPN
ajfa-10056	1	28	8	8	NUM
ajfa-10056	1	29	,	,	PUNCT
ajfa-10056	1	30	no	no	INTJ
ajfa-10056	1	31	.	.	NOUN
ajfa-10056	1	32	2	2	NUM
ajfa-10056	1	33	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	1	34	113	113	NUM
ajfa-10056	1	35	the	the	DET
ajfa-10056	1	36	impact	impact	NOUN
ajfa-10056	1	37	of	of	ADP
ajfa-10056	1	38	the	the	DET
ajfa-10056	1	39	financial	financial	ADJ
ajfa-10056	1	40	sector	sector	NOUN
ajfa-10056	1	41	on	on	ADP
ajfa-10056	1	42	asset	asset	NOUN
ajfa-10056	1	43	pricing	pricing	NOUN
ajfa-10056	1	44	tests	test	NOUN
ajfa-10056	1	45	:	:	PUNCT
ajfa-10056	1	46	evidence	evidence	NOUN
ajfa-10056	1	47	from	from	ADP
ajfa-10056	1	48	the	the	DET
ajfa-10056	1	49	colombo	colombo	NOUN
ajfa-10056	1	50	stock	stock	PROPN
ajfa-10056	1	51	exchange	exchange	PROPN
ajfa-10056	1	52	amal	amal	PROPN
ajfa-10056	1	53	peter	peter	PROPN
ajfa-10056	1	54	abeysekera	abeysekera	PROPN
ajfa-10056	1	55	department	department	PROPN
ajfa-10056	1	56	of	of	ADP
ajfa-10056	1	57	finance	finance	NOUN
ajfa-10056	1	58	,	,	PUNCT
ajfa-10056	1	59	university	university	NOUN
ajfa-10056	1	60	of	of	ADP
ajfa-10056	1	61	sri	sri	PROPN
ajfa-10056	1	62	jayewardenepura	jayewardenepura	PROPN
ajfa-10056	1	63	,	,	PUNCT
ajfa-10056	1	64	sri	sri	PROPN
ajfa-10056	1	65	lanka	lanka	PROPN
ajfa-10056	1	66	po	po	PROPN
ajfa-10056	1	67	box	box	PROPN
ajfa-10056	1	68	10250	10250	NUM
ajfa-10056	1	69	,	,	PUNCT
ajfa-10056	1	70	nugegoda	nugegoda	PROPN
ajfa-10056	1	71	,	,	PUNCT
ajfa-10056	1	72	sri	sri	PROPN
ajfa-10056	1	73	lanka	lanka	PROPN
ajfa-10056	1	74	e	e	PROPN
ajfa-10056	1	75	-	-	NOUN
ajfa-10056	1	76	mail	mail	NOUN
ajfa-10056	1	77	:	:	PUNCT
ajfa-10056	1	78	amalabey@sjp.ac.lk	amalabey@sjp.ac.lk	PROPN
ajfa-10056	1	79	p.	p.	PROPN
ajfa-10056	1	80	d.	d.	PROPN
ajfa-10056	1	81	nimal	nimal	PROPN
ajfa-10056	1	82	(	(	PUNCT
ajfa-10056	1	83	corresponding	corresponding	ADJ
ajfa-10056	1	84	author	author	NOUN
ajfa-10056	1	85	)	)	PUNCT
ajfa-10056	1	86	department	department	NOUN
ajfa-10056	1	87	of	of	ADP
ajfa-10056	1	88	finance	finance	NOUN
ajfa-10056	1	89	,	,	PUNCT
ajfa-10056	1	90	university	university	NOUN
ajfa-10056	1	91	of	of	ADP
ajfa-10056	1	92	sri	sri	PROPN
ajfa-10056	1	93	jayewardenepura	jayewardenepura	PROPN
ajfa-10056	1	94	,	,	PUNCT
ajfa-10056	1	95	sri	sri	PROPN
ajfa-10056	1	96	lanka	lanka	PROPN
ajfa-10056	1	97	po	po	PROPN
ajfa-10056	1	98	box	box	PROPN
ajfa-10056	1	99	10250	10250	NUM
ajfa-10056	1	100	,	,	PUNCT
ajfa-10056	1	101	nugegoda	nugegoda	PROPN
ajfa-10056	1	102	,	,	PUNCT
ajfa-10056	1	103	sri	sri	PROPN
ajfa-10056	1	104	lanka	lanka	PROPN
ajfa-10056	1	105	tel	tel	PROPN
ajfa-10056	1	106	:	:	PUNCT
ajfa-10056	1	107	94	94	NUM
ajfa-10056	1	108	-	-	SYM
ajfa-10056	1	109	71	71	NUM
ajfa-10056	1	110	-	-	PUNCT
ajfa-10056	1	111	70	70	NUM
ajfa-10056	1	112	-	-	PUNCT
ajfa-10056	1	113	06713	06713	NUM
ajfa-10056	1	114	e	e	NOUN
ajfa-10056	1	115	-	-	NOUN
ajfa-10056	1	116	mail	mail	NOUN
ajfa-10056	1	117	:	:	PUNCT
ajfa-10056	1	118	pdnimal@sjp.ac.lk	pdnimal@sjp.ac.lk	PROPN
ajfa-10056	1	119	received	receive	VERB
ajfa-10056	1	120	:	:	PUNCT
ajfa-10056	2	1	sep	sep	PROPN
ajfa-10056	2	2	.	.	PROPN
ajfa-10056	2	3	20	20	NUM
ajfa-10056	2	4	,	,	PUNCT
ajfa-10056	2	5	2016	2016	NUM
ajfa-10056	2	6	accepted	accept	VERB
ajfa-10056	2	7	:	:	PUNCT
ajfa-10056	2	8	oct	oct	PROPN
ajfa-10056	2	9	.	.	PROPN
ajfa-10056	2	10	12	12	NUM
ajfa-10056	2	11	,	,	PUNCT
ajfa-10056	2	12	2016	2016	NUM
ajfa-10056	2	13	published	publish	VERB
ajfa-10056	2	14	:	:	PUNCT
ajfa-10056	2	15	december	december	PROPN
ajfa-10056	2	16	1	1	NUM
ajfa-10056	2	17	,	,	PUNCT
ajfa-10056	2	18	2016	2016	NUM
ajfa-10056	2	19	doi:10.5296	doi:10.5296	NOUN
ajfa-10056	2	20	/	/	SYM
ajfa-10056	2	21	ajfa.v8i2.10056	ajfa.v8i2.10056	NUM
ajfa-10056	2	22	url	url	NOUN
ajfa-10056	2	23	:	:	PUNCT
ajfa-10056	2	24	http://dx.doi.org/10.5296/ajfa.v8i2.10056	http://dx.doi.org/10.5296/ajfa.v8i2.10056	PROPN
ajfa-10056	2	25	abstract	abstract	NOUN
ajfa-10056	2	26	this	this	DET
ajfa-10056	2	27	paper	paper	NOUN
ajfa-10056	2	28	aims	aim	VERB
ajfa-10056	2	29	to	to	PART
ajfa-10056	2	30	identify	identify	VERB
ajfa-10056	2	31	how	how	SCONJ
ajfa-10056	2	32	the	the	DET
ajfa-10056	2	33	inclusion	inclusion	NOUN
ajfa-10056	2	34	of	of	ADP
ajfa-10056	2	35	financial	financial	ADJ
ajfa-10056	2	36	sector	sector	NOUN
ajfa-10056	2	37	affects	affect	VERB
ajfa-10056	2	38	the	the	DET
ajfa-10056	2	39	ability	ability	NOUN
ajfa-10056	2	40	of	of	ADP
ajfa-10056	2	41	asset	asset	NOUN
ajfa-10056	2	42	pricing	pricing	NOUN
ajfa-10056	2	43	models	model	NOUN
ajfa-10056	2	44	to	to	PART
ajfa-10056	2	45	explain	explain	VERB
ajfa-10056	2	46	the	the	DET
ajfa-10056	2	47	average	average	ADJ
ajfa-10056	2	48	stock	stock	NOUN
ajfa-10056	2	49	returns	return	NOUN
ajfa-10056	2	50	in	in	ADP
ajfa-10056	2	51	the	the	DET
ajfa-10056	2	52	cse	cse	NOUN
ajfa-10056	2	53	.	.	PUNCT
ajfa-10056	3	1	most	most	ADJ
ajfa-10056	3	2	of	of	ADP
ajfa-10056	3	3	the	the	DET
ajfa-10056	3	4	asset	asset	NOUN
ajfa-10056	3	5	pricing	pricing	NOUN
ajfa-10056	3	6	researches	research	VERB
ajfa-10056	3	7	,	,	PUNCT
ajfa-10056	3	8	the	the	DET
ajfa-10056	3	9	firms	firm	NOUN
ajfa-10056	3	10	in	in	ADP
ajfa-10056	3	11	the	the	DET
ajfa-10056	3	12	financial	financial	ADJ
ajfa-10056	3	13	sector	sector	NOUN
ajfa-10056	3	14	are	be	AUX
ajfa-10056	3	15	excluded	exclude	VERB
ajfa-10056	3	16	on	on	ADP
ajfa-10056	3	17	the	the	DET
ajfa-10056	3	18	basis	basis	NOUN
ajfa-10056	3	19	that	that	SCONJ
ajfa-10056	3	20	their	their	PRON
ajfa-10056	3	21	characteristics	characteristic	NOUN
ajfa-10056	3	22	and	and	CCONJ
ajfa-10056	3	23	the	the	DET
ajfa-10056	3	24	leverage	leverage	NOUN
ajfa-10056	3	25	are	be	AUX
ajfa-10056	3	26	notably	notably	ADV
ajfa-10056	3	27	different	different	ADJ
ajfa-10056	3	28	than	than	ADP
ajfa-10056	3	29	firms	firm	NOUN
ajfa-10056	3	30	in	in	ADP
ajfa-10056	3	31	other	other	ADJ
ajfa-10056	3	32	industries	industry	NOUN
ajfa-10056	3	33	.	.	PUNCT
ajfa-10056	4	1	therefore	therefore	ADV
ajfa-10056	4	2	the	the	DET
ajfa-10056	4	3	objective	objective	NOUN
ajfa-10056	4	4	of	of	ADP
ajfa-10056	4	5	this	this	DET
ajfa-10056	4	6	study	study	NOUN
ajfa-10056	4	7	is	be	AUX
ajfa-10056	4	8	to	to	PART
ajfa-10056	4	9	identify	identify	VERB
ajfa-10056	4	10	the	the	DET
ajfa-10056	4	11	impact	impact	NOUN
ajfa-10056	4	12	of	of	ADP
ajfa-10056	4	13	the	the	DET
ajfa-10056	4	14	inclusion	inclusion	NOUN
ajfa-10056	4	15	of	of	ADP
ajfa-10056	4	16	financial	financial	ADJ
ajfa-10056	4	17	sector	sector	NOUN
ajfa-10056	4	18	on	on	ADP
ajfa-10056	4	19	the	the	DET
ajfa-10056	4	20	ability	ability	NOUN
ajfa-10056	4	21	of	of	ADP
ajfa-10056	4	22	the	the	DET
ajfa-10056	4	23	carhart	carhart	NOUN
ajfa-10056	4	24	four	four	NUM
ajfa-10056	4	25	-	-	PUNCT
ajfa-10056	4	26	factor	factor	NOUN
ajfa-10056	4	27	model	model	NOUN
ajfa-10056	4	28	to	to	PART
ajfa-10056	4	29	explain	explain	VERB
ajfa-10056	4	30	the	the	DET
ajfa-10056	4	31	average	average	ADJ
ajfa-10056	4	32	stock	stock	NOUN
ajfa-10056	4	33	returns	return	NOUN
ajfa-10056	4	34	in	in	ADP
ajfa-10056	4	35	the	the	DET
ajfa-10056	4	36	cse	cse	NOUN
ajfa-10056	4	37	and	and	CCONJ
ajfa-10056	4	38	to	to	PART
ajfa-10056	4	39	compare	compare	VERB
ajfa-10056	4	40	its	its	PRON
ajfa-10056	4	41	performance	performance	NOUN
ajfa-10056	4	42	with	with	ADP
ajfa-10056	4	43	the	the	DET
ajfa-10056	4	44	capital	capital	NOUN
ajfa-10056	4	45	asset	asset	NOUN
ajfa-10056	4	46	pricing	pricing	NOUN
ajfa-10056	4	47	model	model	NOUN
ajfa-10056	4	48	(	(	PUNCT
ajfa-10056	4	49	capm	capm	PROPN
ajfa-10056	4	50	)	)	PUNCT
ajfa-10056	4	51	and	and	CCONJ
ajfa-10056	4	52	the	the	DET
ajfa-10056	4	53	fama	fama	NOUN
ajfa-10056	4	54	and	and	CCONJ
ajfa-10056	4	55	french	french	ADJ
ajfa-10056	4	56	three	three	NUM
ajfa-10056	4	57	-	-	PUNCT
ajfa-10056	4	58	factor	factor	NOUN
ajfa-10056	4	59	model	model	NOUN
ajfa-10056	4	60	.	.	PUNCT
ajfa-10056	5	1	the	the	DET
ajfa-10056	5	2	study	study	NOUN
ajfa-10056	5	3	finds	find	VERB
ajfa-10056	5	4	that	that	SCONJ
ajfa-10056	5	5	the	the	DET
ajfa-10056	5	6	four	four	NUM
ajfa-10056	5	7	-	-	PUNCT
ajfa-10056	5	8	factor	factor	NOUN
ajfa-10056	5	9	model	model	NOUN
ajfa-10056	5	10	;	;	PUNCT
ajfa-10056	5	11	incorporating	incorporate	VERB
ajfa-10056	5	12	the	the	DET
ajfa-10056	5	13	market	market	NOUN
ajfa-10056	5	14	premium	premium	NOUN
ajfa-10056	5	15	,	,	PUNCT
ajfa-10056	5	16	size	size	NOUN
ajfa-10056	5	17	premium	premium	NOUN
ajfa-10056	5	18	,	,	PUNCT
ajfa-10056	5	19	value	value	NOUN
ajfa-10056	5	20	premium	premium	NOUN
ajfa-10056	5	21	and	and	CCONJ
ajfa-10056	5	22	momentum	momentum	NOUN
ajfa-10056	5	23	premium	premium	NOUN
ajfa-10056	5	24	provides	provide	VERB
ajfa-10056	5	25	a	a	DET
ajfa-10056	5	26	satisfactory	satisfactory	ADJ
ajfa-10056	5	27	explanation	explanation	NOUN
ajfa-10056	5	28	of	of	ADP
ajfa-10056	5	29	the	the	DET
ajfa-10056	5	30	variation	variation	NOUN
ajfa-10056	5	31	in	in	ADP
ajfa-10056	5	32	the	the	DET
ajfa-10056	5	33	cross	cross	NOUN
ajfa-10056	5	34	-	-	NOUN
ajfa-10056	5	35	section	section	NOUN
ajfa-10056	5	36	of	of	ADP
ajfa-10056	5	37	average	average	ADJ
ajfa-10056	5	38	stock	stock	NOUN
ajfa-10056	5	39	returns	return	NOUN
ajfa-10056	5	40	in	in	ADP
ajfa-10056	5	41	the	the	DET
ajfa-10056	5	42	cse	cse	NOUN
ajfa-10056	5	43	,	,	PUNCT
ajfa-10056	5	44	even	even	ADV
ajfa-10056	5	45	when	when	SCONJ
ajfa-10056	5	46	the	the	DET
ajfa-10056	5	47	financial	financial	ADJ
ajfa-10056	5	48	sector	sector	NOUN
ajfa-10056	5	49	is	be	AUX
ajfa-10056	5	50	included	include	VERB
ajfa-10056	5	51	.	.	PUNCT
ajfa-10056	6	1	it	it	PRON
ajfa-10056	6	2	is	be	AUX
ajfa-10056	6	3	found	find	VERB
ajfa-10056	6	4	that	that	SCONJ
ajfa-10056	6	5	the	the	DET
ajfa-10056	6	6	carhart	carhart	NOUN
ajfa-10056	6	7	four	four	NUM
ajfa-10056	6	8	-	-	PUNCT
ajfa-10056	6	9	factor	factor	NOUN
ajfa-10056	6	10	model	model	NOUN
ajfa-10056	6	11	performs	perform	VERB
ajfa-10056	6	12	better	well	ADJ
ajfa-10056	6	13	than	than	ADP
ajfa-10056	6	14	the	the	DET
ajfa-10056	6	15	capm	capm	NOUN
ajfa-10056	6	16	in	in	ADP
ajfa-10056	6	17	all	all	DET
ajfa-10056	6	18	scenarios	scenario	NOUN
ajfa-10056	6	19	;	;	PUNCT
ajfa-10056	6	20	and	and	CCONJ
ajfa-10056	6	21	that	that	SCONJ
ajfa-10056	6	22	it	it	PRON
ajfa-10056	6	23	performs	perform	VERB
ajfa-10056	6	24	notably	notably	ADV
ajfa-10056	6	25	better	well	ADJ
ajfa-10056	6	26	than	than	ADP
ajfa-10056	6	27	the	the	DET
ajfa-10056	6	28	fama	fama	NOUN
ajfa-10056	6	29	and	and	CCONJ
ajfa-10056	6	30	french	french	ADJ
ajfa-10056	6	31	three	three	NUM
ajfa-10056	6	32	-	-	PUNCT
ajfa-10056	6	33	factor	factor	NOUN
ajfa-10056	6	34	model.however	model.however	NOUN
ajfa-10056	6	35	,	,	PUNCT
ajfa-10056	6	36	there	there	PRON
ajfa-10056	6	37	is	be	VERB
ajfa-10056	6	38	no	no	DET
ajfa-10056	6	39	notable	notable	ADJ
ajfa-10056	6	40	difference	difference	NOUN
ajfa-10056	6	41	in	in	ADP
ajfa-10056	6	42	the	the	DET
ajfa-10056	6	43	findings	finding	NOUN
ajfa-10056	6	44	either	either	CCONJ
ajfa-10056	6	45	the	the	DET
ajfa-10056	6	46	financial	financial	ADJ
ajfa-10056	6	47	sector	sector	NOUN
ajfa-10056	6	48	is	be	AUX
ajfa-10056	6	49	included	include	VERB
ajfa-10056	6	50	or	or	CCONJ
ajfa-10056	6	51	not	not	PART
ajfa-10056	6	52	.	.	PUNCT
ajfa-10056	7	1	keywords	keyword	NOUN
ajfa-10056	7	2	:	:	PUNCT
ajfa-10056	8	1	capm	capm	NOUN
ajfa-10056	8	2	,	,	PUNCT
ajfa-10056	8	3	carhart	carhart	NOUN
ajfa-10056	8	4	four	four	NUM
ajfa-10056	8	5	-	-	PUNCT
ajfa-10056	8	6	factor	factor	NOUN
ajfa-10056	8	7	model	model	NOUN
ajfa-10056	8	8	,	,	PUNCT
ajfa-10056	8	9	fama	fama	PROPN
ajfa-10056	8	10	and	and	CCONJ
ajfa-10056	8	11	french	french	ADJ
ajfa-10056	8	12	three	three	NUM
ajfa-10056	8	13	-	-	PUNCT
ajfa-10056	8	14	factor	factor	NOUN
ajfa-10056	8	15	model	model	NOUN
ajfa-10056	8	16	,	,	PUNCT
ajfa-10056	8	17	financial	financial	ADJ
ajfa-10056	8	18	sector	sector	NOUN
ajfa-10056	8	19	,	,	PUNCT
ajfa-10056	8	20	stock	stock	NOUN
ajfa-10056	8	21	returns	return	NOUN
ajfa-10056	8	22	jel	jel	PROPN
ajfa-10056	8	23	:	:	PUNCT
ajfa-10056	8	24	g12	g12	PROPN
ajfa-10056	8	25	,	,	PUNCT
ajfa-10056	8	26	g13	g13	ADJ
ajfa-10056	8	27	asian	asian	ADJ
ajfa-10056	8	28	journal	journal	PROPN
ajfa-10056	8	29	of	of	ADP
ajfa-10056	8	30	finance	finance	PROPN
ajfa-10056	8	31	&	&	CCONJ
ajfa-10056	8	32	accounting	accounting	PROPN
ajfa-10056	8	33	issn	issn	PROPN
ajfa-10056	8	34	1946	1946	NUM
ajfa-10056	8	35	-	-	PUNCT
ajfa-10056	8	36	052x	052x	PROPN
ajfa-10056	8	37	2016	2016	NUM
ajfa-10056	8	38	,	,	PUNCT
ajfa-10056	8	39	vol	vol	NOUN
ajfa-10056	8	40	.	.	PROPN
ajfa-10056	8	41	8	8	NUM
ajfa-10056	8	42	,	,	PUNCT
ajfa-10056	8	43	no	no	INTJ
ajfa-10056	8	44	.	.	NOUN
ajfa-10056	8	45	2	2	NUM
ajfa-10056	8	46	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	8	47	114	114	NUM
ajfa-10056	8	48	1	1	NUM
ajfa-10056	8	49	.	.	PUNCT
ajfa-10056	9	1	introduction	introduction	NOUN
ajfa-10056	9	2	empirical	empirical	ADJ
ajfa-10056	9	3	asset	asset	NOUN
ajfa-10056	9	4	pricing	pricing	NOUN
ajfa-10056	9	5	models	model	NOUN
ajfa-10056	9	6	attempt	attempt	VERB
ajfa-10056	9	7	to	to	PART
ajfa-10056	9	8	explain	explain	VERB
ajfa-10056	9	9	the	the	DET
ajfa-10056	9	10	variation	variation	NOUN
ajfa-10056	9	11	in	in	ADP
ajfa-10056	9	12	the	the	DET
ajfa-10056	9	13	cross	cross	NOUN
ajfa-10056	9	14	section	section	NOUN
ajfa-10056	9	15	of	of	ADP
ajfa-10056	9	16	average	average	ADJ
ajfa-10056	9	17	returns	return	NOUN
ajfa-10056	9	18	via	via	ADP
ajfa-10056	9	19	the	the	DET
ajfa-10056	9	20	identification	identification	NOUN
ajfa-10056	9	21	of	of	ADP
ajfa-10056	9	22	systematic	systematic	ADJ
ajfa-10056	9	23	risk	risk	NOUN
ajfa-10056	9	24	factors	factor	NOUN
ajfa-10056	9	25	.	.	PUNCT
ajfa-10056	10	1	fama	fama	PROPN
ajfa-10056	10	2	and	and	CCONJ
ajfa-10056	10	3	french	french	ADJ
ajfa-10056	10	4	(	(	PUNCT
ajfa-10056	10	5	1992	1992	NUM
ajfa-10056	10	6	)	)	PUNCT
ajfa-10056	10	7	study	study	VERB
ajfa-10056	10	8	the	the	DET
ajfa-10056	10	9	impact	impact	NOUN
ajfa-10056	10	10	of	of	ADP
ajfa-10056	10	11	several	several	ADJ
ajfa-10056	10	12	factors	factor	NOUN
ajfa-10056	10	13	,	,	PUNCT
ajfa-10056	10	14	including	include	VERB
ajfa-10056	10	15	leverage	leverage	NOUN
ajfa-10056	10	16	on	on	ADP
ajfa-10056	10	17	security	security	NOUN
ajfa-10056	10	18	returns	return	NOUN
ajfa-10056	10	19	of	of	ADP
ajfa-10056	10	20	non	non	ADJ
ajfa-10056	10	21	-	-	ADJ
ajfa-10056	10	22	financial	financial	ADJ
ajfa-10056	10	23	firms	firm	NOUN
ajfa-10056	10	24	and	and	CCONJ
ajfa-10056	10	25	conclude	conclude	VERB
ajfa-10056	10	26	that	that	DET
ajfa-10056	10	27	size	size	NOUN
ajfa-10056	10	28	and	and	CCONJ
ajfa-10056	10	29	book	book	NOUN
ajfa-10056	10	30	-	-	PUNCT
ajfa-10056	10	31	to	to	ADP
ajfa-10056	10	32	-	-	PUNCT
ajfa-10056	10	33	market	market	NOUN
ajfa-10056	10	34	(	(	PUNCT
ajfa-10056	10	35	b	b	X
ajfa-10056	10	36	/	/	SYM
ajfa-10056	10	37	m	m	NOUN
ajfa-10056	10	38	)	)	PUNCT
ajfa-10056	10	39	ratios	ratio	NOUN
ajfa-10056	10	40	are	be	AUX
ajfa-10056	10	41	the	the	DET
ajfa-10056	10	42	strongest	strong	ADJ
ajfa-10056	10	43	factors	factor	NOUN
ajfa-10056	10	44	.	.	PUNCT
ajfa-10056	11	1	fama	fama	PROPN
ajfa-10056	11	2	and	and	CCONJ
ajfa-10056	11	3	french	french	ADJ
ajfa-10056	11	4	(	(	PUNCT
ajfa-10056	11	5	1993	1993	NUM
ajfa-10056	11	6	)	)	PUNCT
ajfa-10056	11	7	propose	propose	VERB
ajfa-10056	11	8	a	a	DET
ajfa-10056	11	9	three	three	NUM
ajfa-10056	11	10	-	-	PUNCT
ajfa-10056	11	11	factor	factor	NOUN
ajfa-10056	11	12	model	model	NOUN
ajfa-10056	11	13	,	,	PUNCT
ajfa-10056	11	14	which	which	PRON
ajfa-10056	11	15	posits	posit	VERB
ajfa-10056	11	16	that	that	SCONJ
ajfa-10056	11	17	the	the	DET
ajfa-10056	11	18	cross	cross	NOUN
ajfa-10056	11	19	-	-	NOUN
ajfa-10056	11	20	section	section	NOUN
ajfa-10056	11	21	of	of	ADP
ajfa-10056	11	22	average	average	ADJ
ajfa-10056	11	23	returns	return	NOUN
ajfa-10056	11	24	can	can	AUX
ajfa-10056	11	25	be	be	AUX
ajfa-10056	11	26	explained	explain	VERB
ajfa-10056	11	27	by	by	ADP
ajfa-10056	11	28	the	the	DET
ajfa-10056	11	29	excess	excess	ADJ
ajfa-10056	11	30	market	market	NOUN
ajfa-10056	11	31	return	return	NOUN
ajfa-10056	11	32	(	(	PUNCT
ajfa-10056	11	33	−	−	PROPN
ajfa-10056	11	34	)	)	PUNCT
ajfa-10056	11	35	,	,	PUNCT
ajfa-10056	11	36	a	a	DET
ajfa-10056	11	37	size	size	NOUN
ajfa-10056	11	38	factor	factor	NOUN
ajfa-10056	11	39	)	)	PUNCT
ajfa-10056	11	40	and	and	CCONJ
ajfa-10056	11	41	a	a	DET
ajfa-10056	11	42	book	book	NOUN
ajfa-10056	11	43	-	-	PUNCT
ajfa-10056	11	44	to	to	ADP
ajfa-10056	11	45	-	-	PUNCT
ajfa-10056	11	46	market	market	NOUN
ajfa-10056	11	47	(	(	PUNCT
ajfa-10056	11	48	b	b	NOUN
ajfa-10056	11	49	/	/	SYM
ajfa-10056	11	50	m	m	NOUN
ajfa-10056	11	51	)	)	PUNCT
ajfa-10056	11	52	factor	factor	NOUN
ajfa-10056	11	53	)	)	PUNCT
ajfa-10056	11	54	.	.	PUNCT
ajfa-10056	12	1	carhart	carhart	NOUN
ajfa-10056	12	2	(	(	PUNCT
ajfa-10056	12	3	1997	1997	NUM
ajfa-10056	12	4	)	)	PUNCT
ajfa-10056	12	5	proposes	propose	VERB
ajfa-10056	12	6	the	the	DET
ajfa-10056	12	7	addition	addition	NOUN
ajfa-10056	12	8	of	of	ADP
ajfa-10056	12	9	a	a	DET
ajfa-10056	12	10	fourth	fourth	ADJ
ajfa-10056	12	11	factor	factor	NOUN
ajfa-10056	12	12	termed	term	VERB
ajfa-10056	12	13	the	the	DET
ajfa-10056	12	14	momentum	momentum	NOUN
ajfa-10056	12	15	factor	factor	NOUN
ajfa-10056	12	16	)	)	PUNCT
ajfa-10056	12	17	to	to	ADP
ajfa-10056	12	18	the	the	DET
ajfa-10056	12	19	fama	fama	NOUN
ajfa-10056	12	20	and	and	CCONJ
ajfa-10056	12	21	french	french	ADJ
ajfa-10056	12	22	(	(	PUNCT
ajfa-10056	12	23	1993	1993	NUM
ajfa-10056	12	24	)	)	PUNCT
ajfa-10056	12	25	three	three	NUM
ajfa-10056	12	26	-	-	PUNCT
ajfa-10056	12	27	factor	factor	NOUN
ajfa-10056	12	28	model	model	NOUN
ajfa-10056	12	29	.	.	PUNCT
ajfa-10056	13	1	in	in	ADP
ajfa-10056	13	2	these	these	DET
ajfa-10056	13	3	empirically	empirically	ADV
ajfa-10056	13	4	motivated	motivated	ADJ
ajfa-10056	13	5	studies	study	NOUN
ajfa-10056	13	6	it	it	PRON
ajfa-10056	13	7	has	have	AUX
ajfa-10056	13	8	become	become	VERB
ajfa-10056	13	9	a	a	DET
ajfa-10056	13	10	standard	standard	ADJ
ajfa-10056	13	11	practice	practice	NOUN
ajfa-10056	13	12	to	to	PART
ajfa-10056	13	13	exclude	exclude	VERB
ajfa-10056	13	14	financial	financial	ADJ
ajfa-10056	13	15	firms	firm	NOUN
ajfa-10056	13	16	from	from	ADP
ajfa-10056	13	17	the	the	DET
ajfa-10056	13	18	sample	sample	NOUN
ajfa-10056	13	19	.	.	PUNCT
ajfa-10056	14	1	the	the	DET
ajfa-10056	14	2	rationale	rationale	NOUN
ajfa-10056	14	3	for	for	ADP
ajfa-10056	14	4	such	such	ADJ
ajfa-10056	14	5	exclusion	exclusion	NOUN
ajfa-10056	14	6	is	be	AUX
ajfa-10056	14	7	that	that	SCONJ
ajfa-10056	14	8	financial	financial	ADJ
ajfa-10056	14	9	firms	firm	NOUN
ajfa-10056	14	10	have	have	VERB
ajfa-10056	14	11	high	high	ADJ
ajfa-10056	14	12	leverage	leverage	NOUN
ajfa-10056	14	13	,	,	PUNCT
ajfa-10056	14	14	and	and	CCONJ
ajfa-10056	14	15	high	high	ADJ
ajfa-10056	14	16	leverage	leverage	NOUN
ajfa-10056	14	17	may	may	AUX
ajfa-10056	14	18	not	not	PART
ajfa-10056	14	19	have	have	VERB
ajfa-10056	14	20	the	the	DET
ajfa-10056	14	21	same	same	ADJ
ajfa-10056	14	22	meaning	meaning	NOUN
ajfa-10056	14	23	as	as	SCONJ
ajfa-10056	14	24	it	it	PRON
ajfa-10056	14	25	does	do	VERB
ajfa-10056	14	26	for	for	ADP
ajfa-10056	14	27	non	non	ADJ
ajfa-10056	14	28	-	-	ADJ
ajfa-10056	14	29	financial	financial	ADJ
ajfa-10056	14	30	firms	firm	NOUN
ajfa-10056	14	31	;	;	PUNCT
ajfa-10056	14	32	i.e.	i.e.	X
ajfa-10056	14	33	high	high	ADJ
ajfa-10056	14	34	leverage	leverage	NOUN
ajfa-10056	14	35	for	for	ADP
ajfa-10056	14	36	non	non	ADJ
ajfa-10056	14	37	-	-	ADJ
ajfa-10056	14	38	financial	financial	ADJ
ajfa-10056	14	39	firms	firm	NOUN
ajfa-10056	14	40	generally	generally	ADV
ajfa-10056	14	41	translates	translate	VERB
ajfa-10056	14	42	as	as	ADP
ajfa-10056	14	43	“	"	PUNCT
ajfa-10056	14	44	distress	distress	NOUN
ajfa-10056	14	45	”	"	PUNCT
ajfa-10056	14	46	.	.	PUNCT
ajfa-10056	15	1	however	however	ADV
ajfa-10056	15	2	,	,	PUNCT
ajfa-10056	15	3	there	there	PRON
ajfa-10056	15	4	are	be	VERB
ajfa-10056	15	5	some	some	DET
ajfa-10056	15	6	studies	study	NOUN
ajfa-10056	15	7	that	that	PRON
ajfa-10056	15	8	have	have	AUX
ajfa-10056	15	9	analyzed	analyze	VERB
ajfa-10056	15	10	the	the	DET
ajfa-10056	15	11	relationship	relationship	NOUN
ajfa-10056	15	12	between	between	ADP
ajfa-10056	15	13	factors	factor	NOUN
ajfa-10056	15	14	and	and	CCONJ
ajfa-10056	15	15	security	security	NOUN
ajfa-10056	15	16	returns	return	NOUN
ajfa-10056	15	17	of	of	ADP
ajfa-10056	15	18	financial	financial	ADJ
ajfa-10056	15	19	firms	firm	NOUN
ajfa-10056	15	20	(	(	PUNCT
ajfa-10056	15	21	barber	barber	PROPN
ajfa-10056	15	22	and	and	CCONJ
ajfa-10056	15	23	lyon	lyon	PROPN
ajfa-10056	15	24	(	(	PUNCT
ajfa-10056	15	25	1997	1997	NUM
ajfa-10056	15	26	)	)	PUNCT
ajfa-10056	15	27	)	)	PUNCT
ajfa-10056	15	28	,	,	PUNCT
ajfa-10056	15	29	cooper	cooper	PROPN
ajfa-10056	15	30	,	,	PUNCT
ajfa-10056	15	31	jackson	jackson	PROPN
ajfa-10056	15	32	and	and	CCONJ
ajfa-10056	15	33	patterson	patterson	PROPN
ajfa-10056	15	34	(	(	PUNCT
ajfa-10056	15	35	2003	2003	NUM
ajfa-10056	15	36	)	)	PUNCT
ajfa-10056	15	37	,	,	PUNCT
ajfa-10056	15	38	foerster	foerster	PROPN
ajfa-10056	15	39	and	and	CCONJ
ajfa-10056	15	40	sapp	sapp	PROPN
ajfa-10056	15	41	(	(	PUNCT
ajfa-10056	15	42	2005	2005	NUM
ajfa-10056	15	43	)	)	PUNCT
ajfa-10056	15	44	and	and	CCONJ
ajfa-10056	15	45	have	have	AUX
ajfa-10056	15	46	produced	produce	VERB
ajfa-10056	15	47	mix	mix	NOUN
ajfa-10056	15	48	results	result	NOUN
ajfa-10056	15	49	.	.	PUNCT
ajfa-10056	16	1	as	as	ADV
ajfa-10056	16	2	far	far	ADV
ajfa-10056	16	3	as	as	SCONJ
ajfa-10056	16	4	sri	sri	PROPN
ajfa-10056	16	5	lankan	lankan	PROPN
ajfa-10056	16	6	market	market	NOUN
ajfa-10056	16	7	is	be	AUX
ajfa-10056	16	8	concern	concern	NOUN
ajfa-10056	16	9	almost	almost	ADV
ajfa-10056	16	10	all	all	PRON
ajfa-10056	16	11	studies	study	NOUN
ajfa-10056	16	12	on	on	ADP
ajfa-10056	16	13	this	this	DET
ajfa-10056	16	14	theme	theme	NOUN
ajfa-10056	16	15	have	have	AUX
ajfa-10056	16	16	been	be	AUX
ajfa-10056	16	17	conducted	conduct	VERB
ajfa-10056	16	18	only	only	ADV
ajfa-10056	16	19	for	for	ADP
ajfa-10056	16	20	non	non	ADJ
ajfa-10056	16	21	-	-	ADJ
ajfa-10056	16	22	financial	financial	ADJ
ajfa-10056	16	23	firms	firm	NOUN
ajfa-10056	16	24	though	though	SCONJ
ajfa-10056	16	25	the	the	DET
ajfa-10056	16	26	size	size	NOUN
ajfa-10056	16	27	of	of	ADP
ajfa-10056	16	28	the	the	DET
ajfa-10056	16	29	financial	financial	ADJ
ajfa-10056	16	30	sector	sector	NOUN
ajfa-10056	16	31	is	be	AUX
ajfa-10056	16	32	quite	quite	ADV
ajfa-10056	16	33	large	large	ADJ
ajfa-10056	16	34	.	.	PUNCT
ajfa-10056	17	1	therefore	therefore	ADV
ajfa-10056	17	2	the	the	DET
ajfa-10056	17	3	focus	focus	NOUN
ajfa-10056	17	4	of	of	ADP
ajfa-10056	17	5	this	this	DET
ajfa-10056	17	6	paper	paper	NOUN
ajfa-10056	17	7	is	be	AUX
ajfa-10056	17	8	not	not	PART
ajfa-10056	17	9	to	to	PART
ajfa-10056	17	10	identify	identify	VERB
ajfa-10056	17	11	factors	factor	NOUN
ajfa-10056	17	12	that	that	PRON
ajfa-10056	17	13	could	could	AUX
ajfa-10056	17	14	contribute	contribute	VERB
ajfa-10056	17	15	to	to	ADP
ajfa-10056	17	16	the	the	DET
ajfa-10056	17	17	explanation	explanation	NOUN
ajfa-10056	17	18	of	of	ADP
ajfa-10056	17	19	the	the	DET
ajfa-10056	17	20	variation	variation	NOUN
ajfa-10056	17	21	in	in	ADP
ajfa-10056	17	22	the	the	DET
ajfa-10056	17	23	cross	cross	NOUN
ajfa-10056	17	24	-	-	NOUN
ajfa-10056	17	25	section	section	NOUN
ajfa-10056	17	26	of	of	ADP
ajfa-10056	17	27	average	average	ADJ
ajfa-10056	17	28	returns	return	NOUN
ajfa-10056	17	29	but	but	CCONJ
ajfa-10056	17	30	rather	rather	ADV
ajfa-10056	17	31	to	to	PART
ajfa-10056	17	32	identify	identify	VERB
ajfa-10056	17	33	the	the	DET
ajfa-10056	17	34	impact	impact	NOUN
ajfa-10056	17	35	of	of	ADP
ajfa-10056	17	36	the	the	DET
ajfa-10056	17	37	inclusion	inclusion	NOUN
ajfa-10056	17	38	of	of	ADP
ajfa-10056	17	39	financial	financial	ADJ
ajfa-10056	17	40	sector	sector	NOUN
ajfa-10056	17	41	on	on	ADP
ajfa-10056	17	42	the	the	DET
ajfa-10056	17	43	relationship	relationship	NOUN
ajfa-10056	17	44	between	between	ADP
ajfa-10056	17	45	security	security	NOUN
ajfa-10056	17	46	returns	return	NOUN
ajfa-10056	17	47	andrisk	andrisk	NOUN
ajfa-10056	17	48	factors	factor	NOUN
ajfa-10056	17	49	.	.	PUNCT
ajfa-10056	18	1	specifically	specifically	ADV
ajfa-10056	18	2	,	,	PUNCT
ajfa-10056	18	3	this	this	DET
ajfa-10056	18	4	study	study	NOUN
ajfa-10056	18	5	tests	test	VERB
ajfa-10056	18	6	the	the	DET
ajfa-10056	18	7	ability	ability	NOUN
ajfa-10056	18	8	of	of	ADP
ajfa-10056	18	9	the	the	DET
ajfa-10056	18	10	carhart	carhart	NOUN
ajfa-10056	18	11	(	(	PUNCT
ajfa-10056	18	12	1997	1997	NUM
ajfa-10056	18	13	)	)	PUNCT
ajfa-10056	18	14	four	four	NUM
ajfa-10056	18	15	-	-	PUNCT
ajfa-10056	18	16	factor	factor	NOUN
ajfa-10056	18	17	model	model	NOUN
ajfa-10056	18	18	to	to	PART
ajfa-10056	18	19	explain	explain	VERB
ajfa-10056	18	20	the	the	DET
ajfa-10056	18	21	variation	variation	NOUN
ajfa-10056	18	22	in	in	ADP
ajfa-10056	18	23	the	the	DET
ajfa-10056	18	24	cross	cross	NOUN
ajfa-10056	18	25	-	-	NOUN
ajfa-10056	18	26	section	section	NOUN
ajfa-10056	18	27	of	of	ADP
ajfa-10056	18	28	average	average	ADJ
ajfa-10056	18	29	returns	return	NOUN
ajfa-10056	18	30	in	in	ADP
ajfa-10056	18	31	the	the	DET
ajfa-10056	18	32	cse	cse	NOUN
ajfa-10056	18	33	with	with	ADP
ajfa-10056	18	34	and	and	CCONJ
ajfa-10056	18	35	without	without	ADP
ajfa-10056	18	36	the	the	DET
ajfa-10056	18	37	financial	financial	ADJ
ajfa-10056	18	38	sector	sector	NOUN
ajfa-10056	18	39	.	.	PUNCT
ajfa-10056	19	1	furthermore	furthermore	ADV
ajfa-10056	19	2	the	the	DET
ajfa-10056	19	3	performance	performance	NOUN
ajfa-10056	19	4	of	of	ADP
ajfa-10056	19	5	the	the	DET
ajfa-10056	19	6	four	four	NUM
ajfa-10056	19	7	-	-	PUNCT
ajfa-10056	19	8	factor	factor	NOUN
ajfa-10056	19	9	model	model	NOUN
ajfa-10056	19	10	is	be	AUX
ajfa-10056	19	11	evaluated	evaluate	VERB
ajfa-10056	19	12	against	against	ADP
ajfa-10056	19	13	the	the	DET
ajfa-10056	19	14	capm	capm	PROPN
ajfa-10056	19	15	and	and	CCONJ
ajfa-10056	19	16	the	the	DET
ajfa-10056	19	17	fama	fama	NOUN
ajfa-10056	19	18	and	and	CCONJ
ajfa-10056	19	19	french	french	ADJ
ajfa-10056	19	20	(	(	PUNCT
ajfa-10056	19	21	1993	1993	NUM
ajfa-10056	19	22	)	)	PUNCT
ajfa-10056	19	23	three	three	NUM
ajfa-10056	19	24	-	-	PUNCT
ajfa-10056	19	25	factor	factor	NOUN
ajfa-10056	19	26	model	model	NOUN
ajfa-10056	19	27	,	,	PUNCT
ajfa-10056	19	28	and	and	CCONJ
ajfa-10056	19	29	it	it	PRON
ajfa-10056	19	30	is	be	AUX
ajfa-10056	19	31	examined	examine	VERB
ajfa-10056	19	32	whether	whether	SCONJ
ajfa-10056	19	33	the	the	DET
ajfa-10056	19	34	inclusion	inclusion	NOUN
ajfa-10056	19	35	of	of	ADP
ajfa-10056	19	36	the	the	DET
ajfa-10056	19	37	financial	financial	ADJ
ajfa-10056	19	38	sector	sector	NOUN
ajfa-10056	19	39	alters	alter	VERB
ajfa-10056	19	40	the	the	DET
ajfa-10056	19	41	conclusions	conclusion	NOUN
ajfa-10056	19	42	arrived	arrive	VERB
ajfa-10056	19	43	at	at	ADP
ajfa-10056	19	44	when	when	SCONJ
ajfa-10056	19	45	the	the	DET
ajfa-10056	19	46	financial	financial	ADJ
ajfa-10056	19	47	sector	sector	NOUN
ajfa-10056	19	48	was	be	AUX
ajfa-10056	19	49	excluded	exclude	VERB
ajfa-10056	19	50	.	.	PUNCT
ajfa-10056	20	1	the	the	DET
ajfa-10056	20	2	rest	rest	NOUN
ajfa-10056	20	3	of	of	ADP
ajfa-10056	20	4	the	the	DET
ajfa-10056	20	5	paper	paper	NOUN
ajfa-10056	20	6	is	be	AUX
ajfa-10056	20	7	organized	organize	VERB
ajfa-10056	20	8	as	as	SCONJ
ajfa-10056	20	9	follows	follow	VERB
ajfa-10056	20	10	;	;	PUNCT
ajfa-10056	20	11	section	section	NOUN
ajfa-10056	20	12	2	2	NUM
ajfa-10056	20	13	provides	provide	VERB
ajfa-10056	20	14	a	a	DET
ajfa-10056	20	15	brief	brief	ADJ
ajfa-10056	20	16	review	review	NOUN
ajfa-10056	20	17	of	of	ADP
ajfa-10056	20	18	the	the	DET
ajfa-10056	20	19	literature	literature	NOUN
ajfa-10056	20	20	,	,	PUNCT
ajfa-10056	20	21	section	section	NOUN
ajfa-10056	20	22	3	3	NUM
ajfa-10056	20	23	describes	describe	VERB
ajfa-10056	20	24	the	the	DET
ajfa-10056	20	25	sample	sample	NOUN
ajfa-10056	20	26	and	and	CCONJ
ajfa-10056	20	27	data	datum	NOUN
ajfa-10056	20	28	and	and	CCONJ
ajfa-10056	20	29	section	section	NOUN
ajfa-10056	20	30	4	4	NUM
ajfa-10056	20	31	deals	deal	NOUN
ajfa-10056	20	32	with	with	ADP
ajfa-10056	20	33	the	the	DET
ajfa-10056	20	34	methodology	methodology	NOUN
ajfa-10056	20	35	used	use	VERB
ajfa-10056	20	36	in	in	ADP
ajfa-10056	20	37	the	the	DET
ajfa-10056	20	38	study	study	NOUN
ajfa-10056	20	39	.	.	PUNCT
ajfa-10056	21	1	section	section	NOUN
ajfa-10056	21	2	5	5	NUM
ajfa-10056	21	3	presents	present	VERB
ajfa-10056	21	4	the	the	DET
ajfa-10056	21	5	summary	summary	NOUN
ajfa-10056	21	6	statistics	statistic	NOUN
ajfa-10056	21	7	and	and	CCONJ
ajfa-10056	21	8	section	section	NOUN
ajfa-10056	21	9	6	6	NUM
ajfa-10056	21	10	turns	turn	VERB
ajfa-10056	21	11	to	to	ADP
ajfa-10056	21	12	the	the	DET
ajfa-10056	21	13	tests	test	NOUN
ajfa-10056	21	14	of	of	ADP
ajfa-10056	21	15	asset	asset	NOUN
ajfa-10056	21	16	pricing	pricing	NOUN
ajfa-10056	21	17	models	model	NOUN
ajfa-10056	21	18	.	.	PUNCT
ajfa-10056	22	1	section	section	NOUN
ajfa-10056	22	2	7	7	NUM
ajfa-10056	22	3	concludes	conclude	VERB
ajfa-10056	22	4	the	the	DET
ajfa-10056	22	5	paper	paper	NOUN
ajfa-10056	22	6	.	.	PUNCT
ajfa-10056	23	1	2	2	X
ajfa-10056	23	2	.	.	X
ajfa-10056	23	3	literature	literature	PROPN
ajfa-10056	23	4	review	review	PROPN
ajfa-10056	23	5	barber	barber	PROPN
ajfa-10056	23	6	and	and	CCONJ
ajfa-10056	23	7	lyon	lyon	PROPN
ajfa-10056	23	8	(	(	PUNCT
ajfa-10056	23	9	1997	1997	NUM
ajfa-10056	23	10	)	)	PUNCT
ajfa-10056	23	11	analyze	analyze	VERB
ajfa-10056	23	12	the	the	DET
ajfa-10056	23	13	relationship	relationship	NOUN
ajfa-10056	23	14	between	between	ADP
ajfa-10056	23	15	size	size	NOUN
ajfa-10056	23	16	,	,	PUNCT
ajfa-10056	23	17	b	b	X
ajfa-10056	23	18	/	/	SYM
ajfa-10056	23	19	m	m	VERB
ajfa-10056	23	20	and	and	CCONJ
ajfa-10056	23	21	security	security	NOUN
ajfa-10056	23	22	returns	return	NOUN
ajfa-10056	23	23	for	for	ADP
ajfa-10056	23	24	financial	financial	ADJ
ajfa-10056	23	25	firms	firm	NOUN
ajfa-10056	23	26	.	.	PUNCT
ajfa-10056	24	1	while	while	SCONJ
ajfa-10056	24	2	they	they	PRON
ajfa-10056	24	3	agree	agree	VERB
ajfa-10056	24	4	that	that	SCONJ
ajfa-10056	24	5	high	high	ADJ
ajfa-10056	24	6	leverage	leverage	NOUN
ajfa-10056	24	7	of	of	ADP
ajfa-10056	24	8	financial	financial	ADJ
ajfa-10056	24	9	firms	firm	NOUN
ajfa-10056	24	10	may	may	AUX
ajfa-10056	24	11	not	not	PART
ajfa-10056	24	12	have	have	VERB
ajfa-10056	24	13	the	the	DET
ajfa-10056	24	14	same	same	ADJ
ajfa-10056	24	15	meaning	meaning	NOUN
ajfa-10056	24	16	as	as	ADP
ajfa-10056	24	17	for	for	ADP
ajfa-10056	24	18	non	non	ADJ
ajfa-10056	24	19	-	-	ADJ
ajfa-10056	24	20	financial	financial	ADJ
ajfa-10056	24	21	firms	firm	NOUN
ajfa-10056	24	22	,	,	PUNCT
ajfa-10056	24	23	they	they	PRON
ajfa-10056	24	24	argue	argue	VERB
ajfa-10056	24	25	that	that	SCONJ
ajfa-10056	24	26	there	there	PRON
ajfa-10056	24	27	is	be	VERB
ajfa-10056	24	28	no	no	DET
ajfa-10056	24	29	reason	reason	NOUN
ajfa-10056	24	30	to	to	PART
ajfa-10056	24	31	expect	expect	VERB
ajfa-10056	24	32	that	that	DET
ajfa-10056	24	33	size	size	NOUN
ajfa-10056	24	34	and	and	CCONJ
ajfa-10056	24	35	b	b	X
ajfa-10056	24	36	/	/	SYM
ajfa-10056	24	37	m	m	VERB
ajfa-10056	24	38	ratios	ratio	NOUN
ajfa-10056	24	39	should	should	AUX
ajfa-10056	24	40	have	have	VERB
ajfa-10056	24	41	different	different	ADJ
ajfa-10056	24	42	meanings	meaning	NOUN
ajfa-10056	24	43	for	for	ADP
ajfa-10056	24	44	financial	financial	ADJ
ajfa-10056	24	45	and	and	CCONJ
ajfa-10056	24	46	non	non	ADJ
ajfa-10056	24	47	-	-	ADJ
ajfa-10056	24	48	financial	financial	ADJ
ajfa-10056	24	49	firms	firm	NOUN
ajfa-10056	24	50	.	.	PUNCT
ajfa-10056	25	1	the	the	DET
ajfa-10056	25	2	focus	focus	NOUN
ajfa-10056	25	3	of	of	ADP
ajfa-10056	25	4	their	their	PRON
ajfa-10056	25	5	paper	paper	NOUN
ajfa-10056	25	6	is	be	AUX
ajfa-10056	25	7	on	on	ADP
ajfa-10056	25	8	comparing	compare	VERB
ajfa-10056	25	9	the	the	DET
ajfa-10056	25	10	summary	summary	NOUN
ajfa-10056	25	11	characteristics	characteristic	NOUN
ajfa-10056	25	12	of	of	ADP
ajfa-10056	25	13	the	the	DET
ajfa-10056	25	14	returns	return	NOUN
ajfa-10056	25	15	of	of	ADP
ajfa-10056	25	16	both	both	CCONJ
ajfa-10056	25	17	financial	financial	ADJ
ajfa-10056	25	18	and	and	CCONJ
ajfa-10056	25	19	non	non	ADJ
ajfa-10056	25	20	-	-	ADJ
ajfa-10056	25	21	financial	financial	ADJ
ajfa-10056	25	22	firms	firm	NOUN
ajfa-10056	25	23	.	.	PUNCT
ajfa-10056	26	1	they	they	PRON
ajfa-10056	26	2	use	use	VERB
ajfa-10056	26	3	the	the	DET
ajfa-10056	26	4	same	same	ADJ
ajfa-10056	26	5	approach	approach	NOUN
ajfa-10056	26	6	used	use	VERB
ajfa-10056	26	7	by	by	ADP
ajfa-10056	26	8	fama	fama	PROPN
ajfa-10056	26	9	and	and	CCONJ
ajfa-10056	26	10	french	french	ADJ
ajfa-10056	26	11	(	(	PUNCT
ajfa-10056	26	12	1992	1992	NUM
ajfa-10056	26	13	)	)	PUNCT
ajfa-10056	26	14	and	and	CCONJ
ajfa-10056	26	15	form	form	NOUN
ajfa-10056	26	16	portfolios	portfolio	NOUN
ajfa-10056	26	17	based	base	VERB
ajfa-10056	26	18	on	on	ADP
ajfa-10056	26	19	size	size	NOUN
ajfa-10056	26	20	deciles	decile	NOUN
ajfa-10056	26	21	and	and	CCONJ
ajfa-10056	26	22	b	b	X
ajfa-10056	26	23	/	/	SYM
ajfa-10056	26	24	m	m	PROPN
ajfa-10056	26	25	deciles	decile	NOUN
ajfa-10056	26	26	.	.	PUNCT
ajfa-10056	27	1	they	they	PRON
ajfa-10056	27	2	document	document	VERB
ajfa-10056	27	3	that	that	SCONJ
ajfa-10056	27	4	financial	financial	ADJ
ajfa-10056	27	5	and	and	CCONJ
ajfa-10056	27	6	non	non	ADJ
ajfa-10056	27	7	-	-	ADJ
ajfa-10056	27	8	financial	financial	ADJ
ajfa-10056	27	9	firms	firm	NOUN
ajfa-10056	27	10	have	have	VERB
ajfa-10056	27	11	very	very	ADV
ajfa-10056	27	12	similar	similar	ADJ
ajfa-10056	27	13	return	return	NOUN
ajfa-10056	27	14	patterns	pattern	NOUN
ajfa-10056	27	15	and	and	CCONJ
ajfa-10056	27	16	that	that	SCONJ
ajfa-10056	27	17	both	both	DET
ajfa-10056	27	18	types	type	NOUN
ajfa-10056	27	19	of	of	ADP
ajfa-10056	27	20	firms	firm	NOUN
ajfa-10056	27	21	exhibit	exhibit	VERB
ajfa-10056	27	22	a	a	DET
ajfa-10056	27	23	asian	asian	ADJ
ajfa-10056	27	24	journal	journal	NOUN
ajfa-10056	27	25	of	of	ADP
ajfa-10056	27	26	finance	finance	PROPN
ajfa-10056	27	27	&	&	CCONJ
ajfa-10056	27	28	accounting	accounting	PROPN
ajfa-10056	27	29	issn	issn	PROPN
ajfa-10056	27	30	1946	1946	NUM
ajfa-10056	27	31	-	-	PUNCT
ajfa-10056	27	32	052x	052x	PROPN
ajfa-10056	27	33	2016	2016	NUM
ajfa-10056	27	34	,	,	PUNCT
ajfa-10056	27	35	vol	vol	NOUN
ajfa-10056	27	36	.	.	PROPN
ajfa-10056	27	37	8	8	NUM
ajfa-10056	27	38	,	,	PUNCT
ajfa-10056	27	39	no	no	INTJ
ajfa-10056	27	40	.	.	NOUN
ajfa-10056	27	41	2	2	NUM
ajfa-10056	27	42	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	27	43	115	115	NUM
ajfa-10056	27	44	significant	significant	ADJ
ajfa-10056	27	45	size	size	NOUN
ajfa-10056	27	46	and	and	CCONJ
ajfa-10056	27	47	b	b	NOUN
ajfa-10056	27	48	/	/	SYM
ajfa-10056	27	49	m	m	NOUN
ajfa-10056	27	50	premium	premium	NOUN
ajfa-10056	27	51	.	.	PUNCT
ajfa-10056	28	1	further	far	ADV
ajfa-10056	28	2	they	they	PRON
ajfa-10056	28	3	report	report	VERB
ajfa-10056	28	4	that	that	SCONJ
ajfa-10056	28	5	neither	neither	CCONJ
ajfa-10056	28	6	the	the	DET
ajfa-10056	28	7	size	size	NOUN
ajfa-10056	28	8	premium	premium	NOUN
ajfa-10056	28	9	nor	nor	CCONJ
ajfa-10056	28	10	the	the	DET
ajfa-10056	28	11	b	b	PROPN
ajfa-10056	28	12	/	/	SYM
ajfa-10056	28	13	m	m	NOUN
ajfa-10056	28	14	premium	premium	NOUN
ajfa-10056	28	15	statistically	statistically	ADV
ajfa-10056	28	16	differs	differ	VERB
ajfa-10056	28	17	across	across	ADP
ajfa-10056	28	18	financial	financial	ADJ
ajfa-10056	28	19	and	and	CCONJ
ajfa-10056	28	20	non	non	ADJ
ajfa-10056	28	21	-	-	ADJ
ajfa-10056	28	22	financial	financial	ADJ
ajfa-10056	28	23	firms	firm	NOUN
ajfa-10056	28	24	.	.	PUNCT
ajfa-10056	29	1	cooper	cooper	PROPN
ajfa-10056	29	2	,	,	PUNCT
ajfa-10056	29	3	jackson	jackson	PROPN
ajfa-10056	29	4	and	and	CCONJ
ajfa-10056	29	5	patterson	patterson	PROPN
ajfa-10056	29	6	(	(	PUNCT
ajfa-10056	29	7	2003	2003	NUM
ajfa-10056	29	8	)	)	PUNCT
ajfa-10056	29	9	examine	examine	VERB
ajfa-10056	29	10	the	the	DET
ajfa-10056	29	11	predictability	predictability	NOUN
ajfa-10056	29	12	of	of	ADP
ajfa-10056	29	13	the	the	DET
ajfa-10056	29	14	cross	cross	NOUN
ajfa-10056	29	15	-	-	NOUN
ajfa-10056	29	16	section	section	NOUN
ajfa-10056	29	17	of	of	ADP
ajfa-10056	29	18	stock	stock	NOUN
ajfa-10056	29	19	returns	return	NOUN
ajfa-10056	29	20	of	of	ADP
ajfa-10056	29	21	financial	financial	ADJ
ajfa-10056	29	22	firms	firm	NOUN
ajfa-10056	29	23	by	by	ADP
ajfa-10056	29	24	using	use	VERB
ajfa-10056	29	25	information	information	NOUN
ajfa-10056	29	26	contained	contain	VERB
ajfa-10056	29	27	in	in	ADP
ajfa-10056	29	28	fundamental	fundamental	ADJ
ajfa-10056	29	29	variables	variable	NOUN
ajfa-10056	29	30	of	of	ADP
ajfa-10056	29	31	financial	financial	ADJ
ajfa-10056	29	32	firms	firm	NOUN
ajfa-10056	29	33	such	such	ADJ
ajfa-10056	29	34	as	as	ADP
ajfa-10056	29	35	income	income	NOUN
ajfa-10056	29	36	from	from	ADP
ajfa-10056	29	37	derivative	derivative	ADJ
ajfa-10056	29	38	usage	usage	NOUN
ajfa-10056	29	39	,	,	PUNCT
ajfa-10056	29	40	loan	loan	NOUN
ajfa-10056	29	41	-	-	PUNCT
ajfa-10056	29	42	loss	loss	NOUN
ajfa-10056	29	43	reserves	reserve	NOUN
ajfa-10056	29	44	,	,	PUNCT
ajfa-10056	29	45	earnings	earning	NOUN
ajfa-10056	29	46	and	and	CCONJ
ajfa-10056	29	47	leverage	leverage	NOUN
ajfa-10056	29	48	.	.	PUNCT
ajfa-10056	30	1	they	they	PRON
ajfa-10056	30	2	conclude	conclude	VERB
ajfa-10056	30	3	that	that	SCONJ
ajfa-10056	30	4	neither	neither	CCONJ
ajfa-10056	30	5	size	size	NOUN
ajfa-10056	30	6	nor	nor	CCONJ
ajfa-10056	30	7	b	b	X
ajfa-10056	30	8	/	/	SYM
ajfa-10056	30	9	m	m	VERB
ajfa-10056	30	10	is	be	AUX
ajfa-10056	30	11	important	important	ADJ
ajfa-10056	30	12	in	in	ADP
ajfa-10056	30	13	their	their	PRON
ajfa-10056	30	14	sample	sample	NOUN
ajfa-10056	30	15	.	.	PUNCT
ajfa-10056	31	1	foerster	foerster	PROPN
ajfa-10056	31	2	and	and	CCONJ
ajfa-10056	31	3	sapp	sapp	PROPN
ajfa-10056	31	4	(	(	PUNCT
ajfa-10056	31	5	2005	2005	NUM
ajfa-10056	31	6	)	)	PUNCT
ajfa-10056	31	7	analyze	analyze	VERB
ajfa-10056	31	8	the	the	DET
ajfa-10056	31	9	impact	impact	NOUN
ajfa-10056	31	10	of	of	ADP
ajfa-10056	31	11	excluding	exclude	VERB
ajfa-10056	31	12	financial	financial	ADJ
ajfa-10056	31	13	firms	firm	NOUN
ajfa-10056	31	14	from	from	ADP
ajfa-10056	31	15	asset	asset	NOUN
ajfa-10056	31	16	pricing	pricing	NOUN
ajfa-10056	31	17	tests	test	NOUN
ajfa-10056	31	18	in	in	ADP
ajfa-10056	31	19	countries	country	NOUN
ajfa-10056	31	20	with	with	ADP
ajfa-10056	31	21	large	large	ADJ
ajfa-10056	31	22	financial	financial	ADJ
ajfa-10056	31	23	sectors	sector	NOUN
ajfa-10056	31	24	,	,	PUNCT
ajfa-10056	31	25	by	by	ADP
ajfa-10056	31	26	comparing	compare	VERB
ajfa-10056	31	27	results	result	NOUN
ajfa-10056	31	28	when	when	SCONJ
ajfa-10056	31	29	financial	financial	ADJ
ajfa-10056	31	30	firms	firm	NOUN
ajfa-10056	31	31	are	be	AUX
ajfa-10056	31	32	included	include	VERB
ajfa-10056	31	33	and	and	CCONJ
ajfa-10056	31	34	excluded	exclude	VERB
ajfa-10056	31	35	.	.	PUNCT
ajfa-10056	32	1	they	they	PRON
ajfa-10056	32	2	find	find	VERB
ajfa-10056	32	3	that	that	SCONJ
ajfa-10056	32	4	including	include	VERB
ajfa-10056	32	5	financial	financial	ADJ
ajfa-10056	32	6	firms	firm	NOUN
ajfa-10056	32	7	in	in	ADP
ajfa-10056	32	8	empirical	empirical	ADJ
ajfa-10056	32	9	asset	asset	NOUN
ajfa-10056	32	10	pricing	pricing	NOUN
ajfa-10056	32	11	tests	test	NOUN
ajfa-10056	32	12	can	can	AUX
ajfa-10056	32	13	impact	impact	VERB
ajfa-10056	32	14	the	the	DET
ajfa-10056	32	15	corresponding	corresponding	ADJ
ajfa-10056	32	16	inferences	inference	NOUN
ajfa-10056	32	17	.	.	PUNCT
ajfa-10056	33	1	in	in	ADP
ajfa-10056	33	2	their	their	PRON
ajfa-10056	33	3	study	study	NOUN
ajfa-10056	33	4	the	the	DET
ajfa-10056	33	5	inclusion	inclusion	NOUN
ajfa-10056	33	6	of	of	ADP
ajfa-10056	33	7	the	the	DET
ajfa-10056	33	8	financial	financial	ADJ
ajfa-10056	33	9	sector	sector	NOUN
ajfa-10056	33	10	affects	affect	VERB
ajfa-10056	33	11	the	the	DET
ajfa-10056	33	12	significance	significance	NOUN
ajfa-10056	33	13	of	of	ADP
ajfa-10056	33	14	the	the	DET
ajfa-10056	33	15	factors	factor	NOUN
ajfa-10056	33	16	and	and	CCONJ
ajfa-10056	33	17	their	their	PRON
ajfa-10056	33	18	corresponding	corresponding	ADJ
ajfa-10056	33	19	betas	beta	NOUN
ajfa-10056	33	20	,	,	PUNCT
ajfa-10056	33	21	and	and	CCONJ
ajfa-10056	33	22	some	some	DET
ajfa-10056	33	23	models	model	NOUN
ajfa-10056	33	24	are	be	AUX
ajfa-10056	33	25	accepted	accept	VERB
ajfa-10056	33	26	when	when	SCONJ
ajfa-10056	33	27	financial	financial	ADJ
ajfa-10056	33	28	firms	firm	NOUN
ajfa-10056	33	29	are	be	AUX
ajfa-10056	33	30	included	include	VERB
ajfa-10056	33	31	but	but	CCONJ
ajfa-10056	33	32	are	be	AUX
ajfa-10056	33	33	rejected	reject	VERB
ajfa-10056	33	34	when	when	SCONJ
ajfa-10056	33	35	they	they	PRON
ajfa-10056	33	36	are	be	AUX
ajfa-10056	33	37	excluded	exclude	VERB
ajfa-10056	33	38	.	.	PUNCT
ajfa-10056	34	1	in	in	ADP
ajfa-10056	34	2	the	the	DET
ajfa-10056	34	3	sri	sri	PROPN
ajfa-10056	34	4	lankan	lankan	PROPN
ajfa-10056	34	5	context	context	VERB
ajfa-10056	34	6	the	the	DET
ajfa-10056	34	7	research	research	NOUN
ajfa-10056	34	8	done	do	VERB
ajfa-10056	34	9	in	in	ADP
ajfa-10056	34	10	the	the	DET
ajfa-10056	34	11	area	area	NOUN
ajfa-10056	34	12	of	of	ADP
ajfa-10056	34	13	empirical	empirical	ADJ
ajfa-10056	34	14	asset	asset	NOUN
ajfa-10056	34	15	pricing	pricing	NOUN
ajfa-10056	34	16	tests	test	NOUN
ajfa-10056	34	17	exclude	exclude	VERB
ajfa-10056	34	18	the	the	DET
ajfa-10056	34	19	financial	financial	ADJ
ajfa-10056	34	20	sector	sector	NOUN
ajfa-10056	34	21	(	(	PUNCT
ajfa-10056	34	22	samarakoon	samarakoon	NOUN
ajfa-10056	34	23	,	,	PUNCT
ajfa-10056	34	24	1997	1997	NUM
ajfa-10056	34	25	;	;	PUNCT
ajfa-10056	34	26	nimal	nimal	PROPN
ajfa-10056	34	27	,	,	PUNCT
ajfa-10056	34	28	1997;nanayakkara	1997;nanayakkara	NUM
ajfa-10056	34	29	,	,	PUNCT
ajfa-10056	34	30	2008).moreover	2008).moreover	NUM
ajfa-10056	34	31	,	,	PUNCT
ajfa-10056	34	32	abeysekera	abeysekera	NOUN
ajfa-10056	34	33	and	and	CCONJ
ajfa-10056	34	34	nimal	nimal	PROPN
ajfa-10056	34	35	(	(	PUNCT
ajfa-10056	34	36	2016	2016	NUM
ajfa-10056	34	37	)	)	PUNCT
ajfa-10056	34	38	find	find	VERB
ajfa-10056	34	39	that	that	SCONJ
ajfa-10056	34	40	the	the	DET
ajfa-10056	34	41	four	four	NUM
ajfa-10056	34	42	-	-	PUNCT
ajfa-10056	34	43	factor	factor	NOUN
ajfa-10056	34	44	model	model	NOUN
ajfa-10056	34	45	performs	perform	VERB
ajfa-10056	34	46	better	well	ADJ
ajfa-10056	34	47	than	than	ADP
ajfa-10056	34	48	the	the	DET
ajfa-10056	34	49	capm	capm	PROPN
ajfa-10056	34	50	and	and	CCONJ
ajfa-10056	34	51	the	the	DET
ajfa-10056	34	52	three	three	NUM
ajfa-10056	34	53	-	-	PUNCT
ajfa-10056	34	54	factor	factor	NOUN
ajfa-10056	34	55	model	model	NOUN
ajfa-10056	34	56	for	for	ADP
ajfa-10056	34	57	non	non	ADJ
ajfa-10056	34	58	-	-	ADJ
ajfa-10056	34	59	financial	financial	ADJ
ajfa-10056	34	60	firms	firm	NOUN
ajfa-10056	34	61	listed	list	VERB
ajfa-10056	34	62	in	in	ADP
ajfa-10056	34	63	the	the	DET
ajfa-10056	34	64	cse.therefore	cse.therefore	PRON
ajfa-10056	34	65	it	it	PRON
ajfa-10056	34	66	is	be	AUX
ajfa-10056	34	67	important	important	ADJ
ajfa-10056	34	68	to	to	PART
ajfa-10056	34	69	identify	identify	VERB
ajfa-10056	34	70	the	the	DET
ajfa-10056	34	71	impact	impact	NOUN
ajfa-10056	34	72	the	the	DET
ajfa-10056	34	73	financial	financial	ADJ
ajfa-10056	34	74	sector	sector	NOUN
ajfa-10056	34	75	has	have	VERB
ajfa-10056	34	76	in	in	ADP
ajfa-10056	34	77	empirical	empirical	ADJ
ajfa-10056	34	78	asset	asset	NOUN
ajfa-10056	34	79	pricing	pricing	NOUN
ajfa-10056	34	80	tests	test	NOUN
ajfa-10056	34	81	done	do	VERB
ajfa-10056	34	82	with	with	ADP
ajfa-10056	34	83	regard	regard	NOUN
ajfa-10056	34	84	to	to	ADP
ajfa-10056	34	85	the	the	DET
ajfa-10056	34	86	cse	cse	NOUN
ajfa-10056	34	87	.	.	PUNCT
ajfa-10056	35	1	3	3	X
ajfa-10056	35	2	.	.	X
ajfa-10056	35	3	sample	sample	NOUN
ajfa-10056	35	4	and	and	CCONJ
ajfa-10056	35	5	data	datum	NOUN
ajfa-10056	35	6	the	the	DET
ajfa-10056	35	7	sample	sample	NOUN
ajfa-10056	35	8	period	period	NOUN
ajfa-10056	35	9	of	of	ADP
ajfa-10056	35	10	this	this	DET
ajfa-10056	35	11	study	study	NOUN
ajfa-10056	35	12	extends	extend	VERB
ajfa-10056	35	13	from	from	ADP
ajfa-10056	35	14	october	october	PROPN
ajfa-10056	35	15	1997	1997	NUM
ajfa-10056	35	16	to	to	ADP
ajfa-10056	35	17	september	september	PROPN
ajfa-10056	35	18	2012	2012	NUM
ajfa-10056	35	19	.	.	PUNCT
ajfa-10056	36	1	all	all	DET
ajfa-10056	36	2	tests	test	NOUN
ajfa-10056	36	3	are	be	AUX
ajfa-10056	36	4	done	do	VERB
ajfa-10056	36	5	for	for	ADP
ajfa-10056	36	6	the	the	DET
ajfa-10056	36	7	entire	entire	ADJ
ajfa-10056	36	8	population	population	NOUN
ajfa-10056	36	9	of	of	ADP
ajfa-10056	36	10	firms	firm	NOUN
ajfa-10056	36	11	listed	list	VERB
ajfa-10056	36	12	in	in	ADP
ajfa-10056	36	13	the	the	DET
ajfa-10056	36	14	cse	cse	NOUN
ajfa-10056	36	15	(	(	PUNCT
ajfa-10056	36	16	including	include	VERB
ajfa-10056	36	17	financial	financial	ADJ
ajfa-10056	36	18	firms	firm	NOUN
ajfa-10056	36	19	)	)	PUNCT
ajfa-10056	36	20	and	and	CCONJ
ajfa-10056	36	21	are	be	AUX
ajfa-10056	36	22	compared	compare	VERB
ajfa-10056	36	23	with	with	ADP
ajfa-10056	36	24	the	the	DET
ajfa-10056	36	25	results	result	NOUN
ajfa-10056	36	26	of	of	ADP
ajfa-10056	36	27	abeysekara	abeysekara	NOUN
ajfa-10056	36	28	and	and	CCONJ
ajfa-10056	36	29	nimal	nimal	PROPN
ajfa-10056	36	30	(	(	PUNCT
ajfa-10056	36	31	2016	2016	NUM
ajfa-10056	36	32	)	)	PUNCT
ajfa-10056	36	33	where	where	SCONJ
ajfa-10056	36	34	the	the	DET
ajfa-10056	36	35	financial	financial	ADJ
ajfa-10056	36	36	firms	firm	NOUN
ajfa-10056	36	37	are	be	AUX
ajfa-10056	36	38	excluded	exclude	VERB
ajfa-10056	36	39	.	.	PUNCT
ajfa-10056	37	1	the	the	DET
ajfa-10056	37	2	total	total	ADJ
ajfa-10056	37	3	number	number	NOUN
ajfa-10056	37	4	of	of	ADP
ajfa-10056	37	5	companies	company	NOUN
ajfa-10056	37	6	listed	list	VERB
ajfa-10056	37	7	in	in	ADP
ajfa-10056	37	8	the	the	DET
ajfa-10056	37	9	cse	cse	NOUN
ajfa-10056	37	10	range	range	NOUN
ajfa-10056	37	11	from	from	ADP
ajfa-10056	37	12	127	127	NUM
ajfa-10056	37	13	(	(	PUNCT
ajfa-10056	37	14	26	26	NUM
ajfa-10056	37	15	finance	finance	NOUN
ajfa-10056	37	16	)	)	PUNCT
ajfa-10056	37	17	companies	company	NOUN
ajfa-10056	37	18	in	in	ADP
ajfa-10056	37	19	1998	1998	NUM
ajfa-10056	37	20	to	to	ADP
ajfa-10056	37	21	217	217	NUM
ajfa-10056	37	22	(	(	PUNCT
ajfa-10056	37	23	60	60	NUM
ajfa-10056	37	24	finance	finance	NOUN
ajfa-10056	37	25	)	)	PUNCT
ajfa-10056	37	26	companies	company	NOUN
ajfa-10056	37	27	in	in	ADP
ajfa-10056	37	28	2012	2012	NUM
ajfa-10056	37	29	and	and	CCONJ
ajfa-10056	37	30	the	the	DET
ajfa-10056	37	31	number	number	NOUN
ajfa-10056	37	32	of	of	ADP
ajfa-10056	37	33	companies	company	NOUN
ajfa-10056	37	34	selected	select	VERB
ajfa-10056	37	35	each	each	DET
ajfa-10056	37	36	year	year	NOUN
ajfa-10056	37	37	for	for	ADP
ajfa-10056	37	38	the	the	DET
ajfa-10056	37	39	study	study	NOUN
ajfa-10056	37	40	range	range	NOUN
ajfa-10056	37	41	from	from	ADP
ajfa-10056	37	42	80	80	NUM
ajfa-10056	37	43	(	(	PUNCT
ajfa-10056	37	44	21	21	NUM
ajfa-10056	37	45	finance)companies	finance)companie	NOUN
ajfa-10056	37	46	to	to	ADP
ajfa-10056	37	47	160	160	NUM
ajfa-10056	37	48	(	(	PUNCT
ajfa-10056	37	49	31	31	NUM
ajfa-10056	37	50	finance	finance	NOUN
ajfa-10056	37	51	)	)	PUNCT
ajfa-10056	37	52	companies	company	NOUN
ajfa-10056	37	53	that	that	PRON
ajfa-10056	37	54	satisfy	satisfy	VERB
ajfa-10056	37	55	the	the	DET
ajfa-10056	37	56	selection	selection	NOUN
ajfa-10056	37	57	criteria.monthly	criteria.monthly	NUM
ajfa-10056	37	58	stock	stock	NOUN
ajfa-10056	37	59	returns	return	NOUN
ajfa-10056	37	60	are	be	AUX
ajfa-10056	37	61	calculated	calculate	VERB
ajfa-10056	37	62	under	under	ADP
ajfa-10056	37	63	a	a	DET
ajfa-10056	37	64	reinvestment	reinvestment	NOUN
ajfa-10056	37	65	assumption	assumption	NOUN
ajfa-10056	37	66	and	and	CCONJ
ajfa-10056	37	67	they	they	PRON
ajfa-10056	37	68	include	include	VERB
ajfa-10056	37	69	all	all	DET
ajfa-10056	37	70	forms	form	NOUN
ajfa-10056	37	71	of	of	ADP
ajfa-10056	37	72	benefits	benefit	NOUN
ajfa-10056	37	73	given	give	VERB
ajfa-10056	37	74	to	to	ADP
ajfa-10056	37	75	shareholders	shareholder	NOUN
ajfa-10056	37	76	that	that	PRON
ajfa-10056	37	77	are	be	AUX
ajfa-10056	37	78	measurable	measurable	ADJ
ajfa-10056	37	79	in	in	ADP
ajfa-10056	37	80	monetary	monetary	ADJ
ajfa-10056	37	81	terms	term	NOUN
ajfa-10056	37	82	.	.	PUNCT
ajfa-10056	38	1	following	follow	VERB
ajfa-10056	38	2	nimal	nimal	PROPN
ajfa-10056	38	3	(	(	PUNCT
ajfa-10056	38	4	2006	2006	NUM
ajfa-10056	38	5	)	)	PUNCT
ajfa-10056	38	6	,	,	PUNCT
ajfa-10056	38	7	monthly	monthly	ADJ
ajfa-10056	38	8	stock	stock	NOUN
ajfa-10056	38	9	returns	return	NOUN
ajfa-10056	38	10	are	be	AUX
ajfa-10056	38	11	calculated	calculate	VERB
ajfa-10056	38	12	as	as	ADP
ajfa-10056	38	13	percentagereturns	percentagereturn	NOUN
ajfa-10056	38	14	incorporating	incorporate	VERB
ajfa-10056	38	15	the	the	DET
ajfa-10056	38	16	net	net	ADJ
ajfa-10056	38	17	effect	effect	NOUN
ajfa-10056	38	18	of	of	ADP
ajfa-10056	38	19	capital	capital	NOUN
ajfa-10056	38	20	gains	gain	NOUN
ajfa-10056	38	21	/	/	SYM
ajfa-10056	38	22	losses	loss	NOUN
ajfa-10056	38	23	,	,	PUNCT
ajfa-10056	38	24	dividends	dividend	NOUN
ajfa-10056	38	25	,	,	PUNCT
ajfa-10056	38	26	stock	stock	NOUN
ajfa-10056	38	27	splits	split	NOUN
ajfa-10056	38	28	,	,	PUNCT
ajfa-10056	38	29	bonus	bonus	NOUN
ajfa-10056	38	30	issues	issue	NOUN
ajfa-10056	38	31	and	and	CCONJ
ajfa-10056	38	32	right	right	ADJ
ajfa-10056	38	33	issues	issue	NOUN
ajfa-10056	38	34	.	.	PUNCT
ajfa-10056	39	1	information	information	NOUN
ajfa-10056	39	2	required	require	VERB
ajfa-10056	39	3	in	in	ADP
ajfa-10056	39	4	calculating	calculate	VERB
ajfa-10056	39	5	the	the	DET
ajfa-10056	39	6	monthly	monthly	ADJ
ajfa-10056	39	7	stock	stock	NOUN
ajfa-10056	39	8	returns	return	NOUN
ajfa-10056	39	9	are	be	AUX
ajfa-10056	39	10	obtained	obtain	VERB
ajfa-10056	39	11	from	from	ADP
ajfa-10056	39	12	the	the	DET
ajfa-10056	39	13	cse	cse	NOUN
ajfa-10056	39	14	.	.	PUNCT
ajfa-10056	40	1	similar	similar	ADJ
ajfa-10056	40	2	to	to	ADP
ajfa-10056	40	3	pathirawasam	pathirawasam	ADJ
ajfa-10056	40	4	and	and	CCONJ
ajfa-10056	40	5	weerakoon	weerakoon	ADV
ajfa-10056	40	6	(	(	PUNCT
ajfa-10056	40	7	2008	2008	NUM
ajfa-10056	40	8	)	)	PUNCT
ajfa-10056	40	9	;	;	PUNCT
ajfa-10056	40	10	anuradha	anuradha	PROPN
ajfa-10056	40	11	and	and	CCONJ
ajfa-10056	40	12	nimal	nimal	PROPN
ajfa-10056	40	13	(	(	PUNCT
ajfa-10056	40	14	2013	2013	NUM
ajfa-10056	40	15	)	)	PUNCT
ajfa-10056	40	16	monthly	monthly	ADJ
ajfa-10056	40	17	stock	stock	NOUN
ajfa-10056	40	18	returns	return	NOUN
ajfa-10056	40	19	greater	great	ADJ
ajfa-10056	40	20	than	than	ADP
ajfa-10056	40	21	+	+	NOUN
ajfa-10056	40	22	50	50	NUM
ajfa-10056	40	23	%	%	NOUN
ajfa-10056	40	24	or	or	CCONJ
ajfa-10056	40	25	less	less	ADJ
ajfa-10056	40	26	than	than	ADP
ajfa-10056	40	27	-50	-50	NUM
ajfa-10056	40	28	%	%	NOUN
ajfa-10056	40	29	,	,	PUNCT
ajfa-10056	40	30	are	be	AUX
ajfa-10056	40	31	considered	consider	VERB
ajfa-10056	40	32	as	as	ADP
ajfa-10056	40	33	outliers	outlier	NOUN
ajfa-10056	40	34	and	and	CCONJ
ajfa-10056	40	35	are	be	AUX
ajfa-10056	40	36	removed	remove	VERB
ajfa-10056	40	37	from	from	ADP
ajfa-10056	40	38	the	the	DET
ajfa-10056	40	39	sample	sample	NOUN
ajfa-10056	40	40	.	.	PUNCT
ajfa-10056	41	1	monthly	monthly	ADJ
ajfa-10056	41	2	excess	excess	ADJ
ajfa-10056	41	3	returns	return	NOUN
ajfa-10056	41	4	are	be	AUX
ajfa-10056	41	5	calculated	calculate	VERB
ajfa-10056	41	6	as	as	ADP
ajfa-10056	41	7	the	the	DET
ajfa-10056	41	8	returns	return	NOUN
ajfa-10056	41	9	in	in	ADP
ajfa-10056	41	10	excess	excess	NOUN
ajfa-10056	41	11	of	of	ADP
ajfa-10056	41	12	the	the	DET
ajfa-10056	41	13	risk	risk	NOUN
ajfa-10056	41	14	-	-	PUNCT
ajfa-10056	41	15	free	free	ADJ
ajfa-10056	41	16	rate	rate	NOUN
ajfa-10056	41	17	.	.	PUNCT
ajfa-10056	42	1	the	the	DET
ajfa-10056	42	2	percentage	percentage	NOUN
ajfa-10056	42	3	change	change	NOUN
ajfa-10056	42	4	in	in	ADP
ajfa-10056	42	5	the	the	DET
ajfa-10056	42	6	total	total	ADJ
ajfa-10056	42	7	return	return	NOUN
ajfa-10056	42	8	index	index	NOUN
ajfa-10056	42	9	(	(	PUNCT
ajfa-10056	42	10	tri	tri	NOUN
ajfa-10056	42	11	)	)	PUNCT
ajfa-10056	42	12	is	be	AUX
ajfa-10056	42	13	used	use	VERB
ajfa-10056	42	14	as	as	ADP
ajfa-10056	42	15	a	a	DET
ajfa-10056	42	16	surrogate	surrogate	NOUN
ajfa-10056	42	17	for	for	ADP
ajfa-10056	42	18	the	the	DET
ajfa-10056	42	19	market	market	NOUN
ajfa-10056	42	20	return	return	NOUN
ajfa-10056	42	21	.	.	PUNCT
ajfa-10056	43	1	the	the	DET
ajfa-10056	43	2	tri	tri	PROPN
ajfa-10056	43	3	reflects	reflect	VERB
ajfa-10056	43	4	returns	return	NOUN
ajfa-10056	43	5	due	due	ADJ
ajfa-10056	43	6	to	to	ADP
ajfa-10056	43	7	both	both	DET
ajfa-10056	43	8	price	price	NOUN
ajfa-10056	43	9	changes	change	NOUN
ajfa-10056	43	10	and	and	CCONJ
ajfa-10056	43	11	dividends	dividend	NOUN
ajfa-10056	43	12	;	;	PUNCT
ajfa-10056	43	13	it	it	PRON
ajfa-10056	43	14	is	be	AUX
ajfa-10056	43	15	calculated	calculate	VERB
ajfa-10056	43	16	under	under	ADP
ajfa-10056	43	17	the	the	DET
ajfa-10056	43	18	assumption	assumption	NOUN
ajfa-10056	43	19	that	that	SCONJ
ajfa-10056	43	20	dividends	dividend	NOUN
ajfa-10056	43	21	earned	earn	VERB
ajfa-10056	43	22	are	be	AUX
ajfa-10056	43	23	reinvested	reinveste	VERB
ajfa-10056	43	24	in	in	ADP
ajfa-10056	43	25	the	the	DET
ajfa-10056	43	26	market	market	NOUN
ajfa-10056	43	27	.	.	PUNCT
ajfa-10056	44	1	since	since	SCONJ
ajfa-10056	44	2	the	the	DET
ajfa-10056	44	3	tri	tri	PROPN
ajfa-10056	44	4	was	be	AUX
ajfa-10056	44	5	introduced	introduce	VERB
ajfa-10056	44	6	only	only	ADV
ajfa-10056	44	7	in	in	ADP
ajfa-10056	44	8	january	january	PROPN
ajfa-10056	44	9	2004	2004	NUM
ajfa-10056	44	10	;	;	PUNCT
ajfa-10056	44	11	the	the	DET
ajfa-10056	44	12	tri	tri	ADJ
ajfa-10056	44	13	values	value	NOUN
ajfa-10056	44	14	till	till	SCONJ
ajfa-10056	44	15	october	october	PROPN
ajfa-10056	44	16	1997	1997	NUM
ajfa-10056	44	17	are	be	AUX
ajfa-10056	44	18	obtained	obtain	VERB
ajfa-10056	44	19	by	by	ADP
ajfa-10056	44	20	extrapolating	extrapolate	VERB
ajfa-10056	44	21	the	the	DET
ajfa-10056	44	22	tri	tri	NOUN
ajfa-10056	44	23	backwards.the	backwards.the	DET
ajfa-10056	44	24	monthly	monthly	ADJ
ajfa-10056	44	25	risk	risk	NOUN
ajfa-10056	44	26	-	-	PUNCT
ajfa-10056	44	27	free	free	ADJ
ajfa-10056	44	28	ratesare	ratesare	NOUN
ajfa-10056	44	29	derived	derive	VERB
ajfa-10056	44	30	from	from	ADP
ajfa-10056	44	31	the	the	DET
ajfa-10056	44	32	91	91	NUM
ajfa-10056	44	33	-	-	PUNCT
ajfa-10056	44	34	days	day	NOUN
ajfa-10056	44	35	treasury	treasury	NOUN
ajfa-10056	44	36	bill	bill	NOUN
ajfa-10056	44	37	ratesobtained	ratesobtaine	VERB
ajfa-10056	44	38	from	from	ADP
ajfa-10056	44	39	the	the	DET
ajfa-10056	44	40	central	central	ADJ
ajfa-10056	44	41	bank	bank	PROPN
ajfa-10056	44	42	of	of	ADP
ajfa-10056	44	43	sri	sri	PROPN
ajfa-10056	44	44	lanka	lanka	PROPN
ajfa-10056	44	45	.	.	PUNCT
ajfa-10056	45	1	asian	asian	PROPN
ajfa-10056	45	2	journal	journal	PROPN
ajfa-10056	45	3	of	of	ADP
ajfa-10056	45	4	finance	finance	PROPN
ajfa-10056	45	5	&	&	CCONJ
ajfa-10056	45	6	accounting	accounting	PROPN
ajfa-10056	45	7	issn	issn	PROPN
ajfa-10056	45	8	1946	1946	NUM
ajfa-10056	45	9	-	-	PUNCT
ajfa-10056	45	10	052x	052x	PROPN
ajfa-10056	45	11	2016	2016	NUM
ajfa-10056	45	12	,	,	PUNCT
ajfa-10056	45	13	vol	vol	NOUN
ajfa-10056	45	14	.	.	PROPN
ajfa-10056	45	15	8	8	NUM
ajfa-10056	45	16	,	,	PUNCT
ajfa-10056	45	17	no	no	INTJ
ajfa-10056	45	18	.	.	NOUN
ajfa-10056	45	19	2	2	NUM
ajfa-10056	45	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	45	21	116	116	NUM
ajfa-10056	45	22	4	4	NUM
ajfa-10056	45	23	.	.	PUNCT
ajfa-10056	45	24	methodology	methodology	NOUN
ajfa-10056	45	25	empirical	empirical	ADJ
ajfa-10056	45	26	asset	asset	NOUN
ajfa-10056	45	27	pricing	pricing	NOUN
ajfa-10056	45	28	tests	test	NOUN
ajfa-10056	45	29	require	require	VERB
ajfa-10056	45	30	specifying	specify	VERB
ajfa-10056	45	31	the	the	DET
ajfa-10056	45	32	risk	risk	NOUN
ajfa-10056	45	33	factors	factor	NOUN
ajfa-10056	45	34	(	(	PUNCT
ajfa-10056	45	35	explanatory	explanatory	ADJ
ajfa-10056	45	36	variables	variable	NOUN
ajfa-10056	45	37	)	)	PUNCT
ajfa-10056	45	38	and	and	CCONJ
ajfa-10056	45	39	the	the	DET
ajfa-10056	45	40	test	test	NOUN
ajfa-10056	45	41	assets	asset	NOUN
ajfa-10056	45	42	(	(	PUNCT
ajfa-10056	45	43	dependent	dependent	ADJ
ajfa-10056	45	44	variables	variable	NOUN
ajfa-10056	45	45	)	)	PUNCT
ajfa-10056	45	46	which	which	PRON
ajfa-10056	45	47	are	be	AUX
ajfa-10056	45	48	to	to	PART
ajfa-10056	45	49	be	be	AUX
ajfa-10056	45	50	used	use	VERB
ajfa-10056	45	51	in	in	ADP
ajfa-10056	45	52	the	the	DET
ajfa-10056	45	53	regressions	regression	NOUN
ajfa-10056	45	54	.	.	PUNCT
ajfa-10056	46	1	in	in	ADP
ajfa-10056	46	2	doing	do	VERB
ajfa-10056	46	3	so	so	SCONJ
ajfa-10056	46	4	portfolios	portfolio	NOUN
ajfa-10056	46	5	are	be	AUX
ajfa-10056	46	6	formed	form	VERB
ajfa-10056	46	7	to	to	PART
ajfa-10056	46	8	generate	generate	VERB
ajfa-10056	46	9	the	the	DET
ajfa-10056	46	10	explanatory	explanatory	ADJ
ajfa-10056	46	11	and	and	CCONJ
ajfa-10056	46	12	dependent	dependent	ADJ
ajfa-10056	46	13	variables	variable	NOUN
ajfa-10056	46	14	.	.	PUNCT
ajfa-10056	47	1	the	the	DET
ajfa-10056	47	2	portfolios	portfolio	NOUN
ajfa-10056	47	3	forming	form	VERB
ajfa-10056	47	4	the	the	DET
ajfa-10056	47	5	explanatory	explanatory	ADJ
ajfa-10056	47	6	variables	variable	NOUN
ajfa-10056	47	7	are	be	AUX
ajfa-10056	47	8	referred	refer	VERB
ajfa-10056	47	9	to	to	ADP
ajfa-10056	47	10	as	as	ADP
ajfa-10056	47	11	the	the	DET
ajfa-10056	47	12	right	right	ADJ
ajfa-10056	47	13	-	-	PUNCT
ajfa-10056	47	14	hand	hand	NOUN
ajfa-10056	47	15	side	side	NOUN
ajfa-10056	47	16	(	(	PUNCT
ajfa-10056	47	17	rhs	rhs	PROPN
ajfa-10056	47	18	)	)	PUNCT
ajfa-10056	47	19	portfolios	portfolio	NOUN
ajfa-10056	47	20	and	and	CCONJ
ajfa-10056	47	21	the	the	DET
ajfa-10056	47	22	portfolios	portfolio	NOUN
ajfa-10056	47	23	generating	generate	VERB
ajfa-10056	47	24	the	the	DET
ajfa-10056	47	25	dependent	dependent	ADJ
ajfa-10056	47	26	variables	variable	NOUN
ajfa-10056	47	27	are	be	AUX
ajfa-10056	47	28	referred	refer	VERB
ajfa-10056	47	29	to	to	ADP
ajfa-10056	47	30	as	as	ADP
ajfa-10056	47	31	the	the	DET
ajfa-10056	47	32	left	left	ADJ
ajfa-10056	47	33	-	-	PUNCT
ajfa-10056	47	34	hand	hand	NOUN
ajfa-10056	47	35	side	side	NOUN
ajfa-10056	47	36	(	(	PUNCT
ajfa-10056	47	37	lhs	lhs	PROPN
ajfa-10056	47	38	)	)	PUNCT
ajfa-10056	47	39	portfolios	portfolio	NOUN
ajfa-10056	47	40	.	.	PUNCT
ajfa-10056	48	1	4.1	4.1	NUM
ajfa-10056	48	2	portfolio	portfolio	NOUN
ajfa-10056	48	3	formation	formation	NOUN
ajfa-10056	48	4	following	follow	VERB
ajfa-10056	48	5	the	the	DET
ajfa-10056	48	6	factor	factor	NOUN
ajfa-10056	48	7	mimicking	mimic	VERB
ajfa-10056	48	8	portfolio	portfolio	NOUN
ajfa-10056	48	9	approach	approach	NOUN
ajfa-10056	48	10	of	of	ADP
ajfa-10056	48	11	fama	fama	PROPN
ajfa-10056	48	12	and	and	CCONJ
ajfa-10056	48	13	french	french	ADJ
ajfa-10056	48	14	(	(	PUNCT
ajfa-10056	48	15	1996	1996	NUM
ajfa-10056	48	16	,	,	PUNCT
ajfa-10056	48	17	2012	2012	NUM
ajfa-10056	48	18	)	)	PUNCT
ajfa-10056	48	19	portfolios	portfolio	NOUN
ajfa-10056	48	20	are	be	AUX
ajfa-10056	48	21	formed	form	VERB
ajfa-10056	48	22	based	base	VERB
ajfa-10056	48	23	on	on	ADP
ajfa-10056	48	24	size	size	NOUN
ajfa-10056	48	25	and	and	CCONJ
ajfa-10056	48	26	b	b	X
ajfa-10056	48	27	/	/	SYM
ajfa-10056	48	28	m	m	NOUN
ajfa-10056	48	29	ratio	ratio	NOUN
ajfa-10056	48	30	;	;	PUNCT
ajfa-10056	48	31	and	and	CCONJ
ajfa-10056	48	32	on	on	ADP
ajfa-10056	48	33	size	size	NOUN
ajfa-10056	48	34	and	and	CCONJ
ajfa-10056	48	35	momentum	momentum	NOUN
ajfa-10056	48	36	in	in	ADP
ajfa-10056	48	37	order	order	NOUN
ajfa-10056	48	38	to	to	PART
ajfa-10056	48	39	obtain	obtain	VERB
ajfa-10056	48	40	explanatory	explanatory	ADJ
ajfa-10056	48	41	returns	return	NOUN
ajfa-10056	48	42	for	for	ADP
ajfa-10056	48	43	the	the	DET
ajfa-10056	48	44	regressions	regression	NOUN
ajfa-10056	48	45	.	.	PUNCT
ajfa-10056	49	1	all	all	DET
ajfa-10056	49	2	portfolios	portfolio	NOUN
ajfa-10056	49	3	’	'	PUNCT
ajfa-10056	49	4	returns	return	NOUN
ajfa-10056	49	5	are	be	AUX
ajfa-10056	49	6	calculated	calculate	VERB
ajfa-10056	49	7	using	use	VERB
ajfa-10056	49	8	excess	excess	ADJ
ajfa-10056	49	9	stock	stock	NOUN
ajfa-10056	49	10	returns	return	NOUN
ajfa-10056	49	11	.	.	PUNCT
ajfa-10056	50	1	company	company	NOUN
ajfa-10056	50	2	size	size	NOUN
ajfa-10056	50	3	is	be	AUX
ajfa-10056	50	4	measured	measure	VERB
ajfa-10056	50	5	in	in	ADP
ajfa-10056	50	6	terms	term	NOUN
ajfa-10056	50	7	of	of	ADP
ajfa-10056	50	8	market	market	NOUN
ajfa-10056	50	9	capitalization	capitalization	NOUN
ajfa-10056	50	10	.	.	PUNCT
ajfa-10056	51	1	book	book	NOUN
ajfa-10056	51	2	equity	equity	NOUN
ajfa-10056	51	3	is	be	AUX
ajfa-10056	51	4	calculated	calculate	VERB
ajfa-10056	51	5	as	as	ADP
ajfa-10056	51	6	the	the	DET
ajfa-10056	51	7	difference	difference	NOUN
ajfa-10056	51	8	between	between	ADP
ajfa-10056	51	9	total	total	ADJ
ajfa-10056	51	10	assets	asset	NOUN
ajfa-10056	51	11	and	and	CCONJ
ajfa-10056	51	12	total	total	ADJ
ajfa-10056	51	13	liabilities	liability	NOUN
ajfa-10056	51	14	.	.	PUNCT
ajfa-10056	52	1	the	the	DET
ajfa-10056	52	2	b	b	PROPN
ajfa-10056	52	3	/	/	SYM
ajfa-10056	52	4	m	m	NOUN
ajfa-10056	52	5	ratio	ratio	NOUN
ajfa-10056	52	6	is	be	AUX
ajfa-10056	52	7	calculated	calculate	VERB
ajfa-10056	52	8	at	at	ADP
ajfa-10056	52	9	the	the	DET
ajfa-10056	52	10	end	end	NOUN
ajfa-10056	52	11	of	of	ADP
ajfa-10056	52	12	the	the	DET
ajfa-10056	52	13	fiscal	fiscal	ADJ
ajfa-10056	52	14	year	year	NOUN
ajfa-10056	52	15	of	of	ADP
ajfa-10056	52	16	each	each	DET
ajfa-10056	52	17	company	company	NOUN
ajfa-10056	52	18	;	;	PUNCT
ajfa-10056	52	19	i.e.	i.e.	X
ajfa-10056	52	20	the	the	DET
ajfa-10056	52	21	book	book	NOUN
ajfa-10056	52	22	equity	equity	NOUN
ajfa-10056	52	23	of	of	ADP
ajfa-10056	52	24	a	a	DET
ajfa-10056	52	25	company	company	NOUN
ajfa-10056	52	26	at	at	ADP
ajfa-10056	52	27	the	the	DET
ajfa-10056	52	28	end	end	NOUN
ajfa-10056	52	29	of	of	ADP
ajfa-10056	52	30	its	its	PRON
ajfa-10056	52	31	fiscal	fiscal	ADJ
ajfa-10056	52	32	year	year	NOUN
ajfa-10056	52	33	is	be	AUX
ajfa-10056	52	34	divided	divide	VERB
ajfa-10056	52	35	by	by	ADP
ajfa-10056	52	36	its	its	PRON
ajfa-10056	52	37	market	market	NOUN
ajfa-10056	52	38	capitalization	capitalization	NOUN
ajfa-10056	52	39	on	on	ADP
ajfa-10056	52	40	that	that	DET
ajfa-10056	52	41	day	day	NOUN
ajfa-10056	52	42	.	.	PUNCT
ajfa-10056	53	1	as	as	SCONJ
ajfa-10056	53	2	the	the	DET
ajfa-10056	53	3	financial	financial	ADJ
ajfa-10056	53	4	years	year	NOUN
ajfa-10056	53	5	of	of	ADP
ajfa-10056	53	6	companies	company	NOUN
ajfa-10056	53	7	listed	list	VERB
ajfa-10056	53	8	in	in	ADP
ajfa-10056	53	9	the	the	DET
ajfa-10056	53	10	cse	cse	NOUN
ajfa-10056	53	11	end	end	VERB
ajfa-10056	53	12	either	either	CCONJ
ajfa-10056	53	13	in	in	ADP
ajfa-10056	53	14	december	december	PROPN
ajfa-10056	53	15	or	or	CCONJ
ajfa-10056	53	16	march	march	PROPN
ajfa-10056	53	17	,	,	PUNCT
ajfa-10056	53	18	this	this	PRON
ajfa-10056	53	19	generates	generate	VERB
ajfa-10056	53	20	a	a	DET
ajfa-10056	53	21	series	series	NOUN
ajfa-10056	53	22	of	of	ADP
ajfa-10056	53	23	b	b	PROPN
ajfa-10056	53	24	/	/	SYM
ajfa-10056	53	25	m	m	PROPN
ajfa-10056	53	26	ratios	ratio	NOUN
ajfa-10056	53	27	on	on	ADP
ajfa-10056	53	28	the	the	DET
ajfa-10056	53	29	31st	31st	NOUN
ajfa-10056	53	30	of	of	ADP
ajfa-10056	53	31	december	december	PROPN
ajfa-10056	53	32	for	for	ADP
ajfa-10056	53	33	december	december	PROPN
ajfa-10056	53	34	-	-	PUNCT
ajfa-10056	53	35	end	end	NOUN
ajfa-10056	53	36	companies	company	NOUN
ajfa-10056	53	37	and	and	CCONJ
ajfa-10056	53	38	another	another	DET
ajfa-10056	53	39	series	series	NOUN
ajfa-10056	53	40	of	of	ADP
ajfa-10056	53	41	b	b	PROPN
ajfa-10056	53	42	/	/	SYM
ajfa-10056	53	43	m	m	PROPN
ajfa-10056	53	44	ratios	ratio	NOUN
ajfa-10056	53	45	on	on	ADP
ajfa-10056	53	46	the	the	DET
ajfa-10056	53	47	31st	31st	NOUN
ajfa-10056	53	48	of	of	ADP
ajfa-10056	53	49	march	march	PROPN
ajfa-10056	53	50	for	for	ADP
ajfa-10056	53	51	march	march	NOUN
ajfa-10056	53	52	-	-	PUNCT
ajfa-10056	53	53	end	end	NOUN
ajfa-10056	53	54	companies	company	NOUN
ajfa-10056	53	55	.	.	PUNCT
ajfa-10056	54	1	following	follow	VERB
ajfa-10056	54	2	the	the	DET
ajfa-10056	54	3	fama	fama	NOUN
ajfa-10056	54	4	and	and	CCONJ
ajfa-10056	54	5	french	french	ADJ
ajfa-10056	54	6	(	(	PUNCT
ajfa-10056	54	7	1996	1996	NUM
ajfa-10056	54	8	,	,	PUNCT
ajfa-10056	54	9	2012	2012	NUM
ajfa-10056	54	10	)	)	PUNCT
ajfa-10056	54	11	methodology	methodology	NOUN
ajfa-10056	54	12	stocks	stock	NOUN
ajfa-10056	54	13	with	with	ADP
ajfa-10056	54	14	negative	negative	ADJ
ajfa-10056	54	15	b	b	PROPN
ajfa-10056	54	16	/	/	SYM
ajfa-10056	54	17	m	m	NOUN
ajfa-10056	54	18	ratios	ratio	NOUN
ajfa-10056	54	19	are	be	AUX
ajfa-10056	54	20	not	not	PART
ajfa-10056	54	21	considered	consider	VERB
ajfa-10056	54	22	.	.	PUNCT
ajfa-10056	55	1	in	in	ADP
ajfa-10056	55	2	the	the	DET
ajfa-10056	55	3	present	present	ADJ
ajfa-10056	55	4	study	study	NOUN
ajfa-10056	55	5	similar	similar	ADJ
ajfa-10056	55	6	to	to	ADP
ajfa-10056	55	7	fama	fama	PROPN
ajfa-10056	55	8	and	and	CCONJ
ajfa-10056	55	9	french	french	ADJ
ajfa-10056	55	10	(	(	PUNCT
ajfa-10056	55	11	2012	2012	NUM
ajfa-10056	55	12	)	)	PUNCT
ajfa-10056	55	13	,	,	PUNCT
ajfa-10056	55	14	momentum	momentum	NOUN
ajfa-10056	55	15	is	be	AUX
ajfa-10056	55	16	represented	represent	VERB
ajfa-10056	55	17	by	by	ADP
ajfa-10056	55	18	the	the	DET
ajfa-10056	55	19	lagged	lag	VERB
ajfa-10056	55	20	return	return	NOUN
ajfa-10056	55	21	.	.	PUNCT
ajfa-10056	56	1	lagged	lag	VERB
ajfa-10056	56	2	momentum	momentum	NOUN
ajfa-10056	56	3	return	return	NOUN
ajfa-10056	56	4	of	of	ADP
ajfa-10056	56	5	a	a	DET
ajfa-10056	56	6	stock	stock	NOUN
ajfa-10056	56	7	is	be	AUX
ajfa-10056	56	8	its	its	PRON
ajfa-10056	56	9	cumulative	cumulative	ADJ
ajfa-10056	56	10	excessreturn	excessreturn	NOUN
ajfa-10056	56	11	from	from	ADP
ajfa-10056	56	12	t-11	t-11	PRON
ajfa-10056	56	13	to	to	ADP
ajfa-10056	56	14	t-1	t-1	PROPN
ajfa-10056	56	15	.	.	PUNCT
ajfa-10056	57	1	skipping	skip	VERB
ajfa-10056	57	2	the	the	DET
ajfa-10056	57	3	sort	sort	ADJ
ajfa-10056	57	4	month	month	NOUN
ajfa-10056	57	5	in	in	ADP
ajfa-10056	57	6	this	this	DET
ajfa-10056	57	7	manner	manner	NOUN
ajfa-10056	57	8	is	be	AUX
ajfa-10056	57	9	a	a	DET
ajfa-10056	57	10	standard	standard	ADJ
ajfa-10056	57	11	practice	practice	NOUN
ajfa-10056	57	12	in	in	ADP
ajfa-10056	57	13	momentum	momentum	NOUN
ajfa-10056	57	14	tests	test	NOUN
ajfa-10056	57	15	,	,	PUNCT
ajfa-10056	57	16	due	due	ADP
ajfa-10056	57	17	to	to	ADP
ajfa-10056	57	18	jegadeesh	jegadeesh	NOUN
ajfa-10056	57	19	’s	’s	PART
ajfa-10056	57	20	(	(	PUNCT
ajfa-10056	57	21	1990	1990	NUM
ajfa-10056	57	22	)	)	PUNCT
ajfa-10056	57	23	evidence	evidence	NOUN
ajfa-10056	57	24	of	of	ADP
ajfa-10056	57	25	negative	negative	ADJ
ajfa-10056	57	26	correlation	correlation	NOUN
ajfa-10056	57	27	(	(	PUNCT
ajfa-10056	57	28	i.e.	i.e.	X
ajfa-10056	57	29	reversal	reversal	NOUN
ajfa-10056	57	30	rather	rather	ADV
ajfa-10056	57	31	than	than	ADP
ajfa-10056	57	32	continuation	continuation	NOUN
ajfa-10056	57	33	)	)	PUNCT
ajfa-10056	57	34	of	of	ADP
ajfa-10056	57	35	month	month	NOUN
ajfa-10056	57	36	-	-	PUNCT
ajfa-10056	57	37	to	to	ADP
ajfa-10056	57	38	-	-	PUNCT
ajfa-10056	57	39	month	month	NOUN
ajfa-10056	57	40	returns	return	NOUN
ajfa-10056	57	41	.	.	PUNCT
ajfa-10056	58	1	it	it	PRON
ajfa-10056	58	2	is	be	AUX
ajfa-10056	58	3	to	to	PART
ajfa-10056	58	4	be	be	AUX
ajfa-10056	58	5	noted	note	VERB
ajfa-10056	58	6	that	that	SCONJ
ajfa-10056	58	7	the	the	DET
ajfa-10056	58	8	first	first	ADJ
ajfa-10056	58	9	momentum	momentum	NOUN
ajfa-10056	58	10	calculation	calculation	NOUN
ajfa-10056	58	11	absorbs	absorb	VERB
ajfa-10056	58	12	a	a	DET
ajfa-10056	58	13	year	year	NOUN
ajfa-10056	58	14	of	of	ADP
ajfa-10056	58	15	data	datum	NOUN
ajfa-10056	58	16	;	;	PUNCT
ajfa-10056	58	17	therefore	therefore	ADV
ajfa-10056	58	18	the	the	DET
ajfa-10056	58	19	sample	sample	NOUN
ajfa-10056	58	20	period	period	NOUN
ajfa-10056	58	21	for	for	ADP
ajfa-10056	58	22	the	the	DET
ajfa-10056	58	23	regression	regression	NOUN
ajfa-10056	58	24	is	be	AUX
ajfa-10056	58	25	actually	actually	ADV
ajfa-10056	58	26	14	14	NUM
ajfa-10056	58	27	years	year	NOUN
ajfa-10056	58	28	,	,	PUNCT
ajfa-10056	58	29	although	although	SCONJ
ajfa-10056	58	30	data	datum	NOUN
ajfa-10056	58	31	of	of	ADP
ajfa-10056	58	32	15	15	NUM
ajfa-10056	58	33	years	year	NOUN
ajfa-10056	58	34	are	be	AUX
ajfa-10056	58	35	used	use	VERB
ajfa-10056	58	36	for	for	ADP
ajfa-10056	58	37	the	the	DET
ajfa-10056	58	38	calculations	calculation	NOUN
ajfa-10056	58	39	.	.	PUNCT
ajfa-10056	59	1	the	the	DET
ajfa-10056	59	2	explanatory	explanatory	ADJ
ajfa-10056	59	3	returns	return	NOUN
ajfa-10056	59	4	are	be	AUX
ajfa-10056	59	5	calculated	calculate	VERB
ajfa-10056	59	6	by	by	ADP
ajfa-10056	59	7	forming	form	VERB
ajfa-10056	59	8	rhs	rhs	PROPN
ajfa-10056	59	9	portfolios	portfolio	NOUN
ajfa-10056	59	10	from	from	ADP
ajfa-10056	59	11	2×3	2×3	NUM
ajfa-10056	59	12	sorts	sort	NOUN
ajfa-10056	59	13	on	on	ADP
ajfa-10056	59	14	size	size	NOUN
ajfa-10056	59	15	and	and	CCONJ
ajfa-10056	59	16	b	b	NOUN
ajfa-10056	59	17	/	/	SYM
ajfa-10056	59	18	m.	m.	NOUN
ajfa-10056	59	19	portfolios	portfolio	NOUN
ajfa-10056	59	20	are	be	AUX
ajfa-10056	59	21	formed	form	VERB
ajfa-10056	59	22	at	at	ADP
ajfa-10056	59	23	the	the	DET
ajfa-10056	59	24	end	end	NOUN
ajfa-10056	59	25	of	of	ADP
ajfa-10056	59	26	september	september	PROPN
ajfa-10056	59	27	of	of	ADP
ajfa-10056	59	28	year	year	NOUN
ajfa-10056	59	29	t	t	PROPN
ajfa-10056	59	30	and	and	CCONJ
ajfa-10056	59	31	the	the	DET
ajfa-10056	59	32	monthly	monthly	ADJ
ajfa-10056	59	33	equal	equal	ADV
ajfa-10056	59	34	-	-	PUNCT
ajfa-10056	59	35	weighted	weight	VERB
ajfa-10056	59	36	stock	stock	NOUN
ajfa-10056	59	37	returns	return	NOUN
ajfa-10056	59	38	for	for	ADP
ajfa-10056	59	39	each	each	DET
ajfa-10056	59	40	portfolio	portfolio	NOUN
ajfa-10056	59	41	is	be	AUX
ajfa-10056	59	42	calculated	calculate	VERB
ajfa-10056	59	43	from	from	ADP
ajfa-10056	59	44	october	october	PROPN
ajfa-10056	59	45	of	of	ADP
ajfa-10056	59	46	year	year	NOUN
ajfa-10056	59	47	t	t	PROPN
ajfa-10056	59	48	to	to	ADP
ajfa-10056	59	49	september	september	PROPN
ajfa-10056	59	50	of	of	ADP
ajfa-10056	59	51	year	year	NOUN
ajfa-10056	59	52	t+1	t+1	NUM
ajfa-10056	59	53	;	;	PUNCT
ajfa-10056	59	54	after	after	ADP
ajfa-10056	59	55	which	which	PRON
ajfa-10056	59	56	portfolios	portfolio	NOUN
ajfa-10056	59	57	are	be	AUX
ajfa-10056	59	58	reformed	reform	VERB
ajfa-10056	59	59	in	in	ADP
ajfa-10056	59	60	september	september	PROPN
ajfa-10056	59	61	of	of	ADP
ajfa-10056	59	62	year	year	NOUN
ajfa-10056	59	63	t+1	t+1	PROPN
ajfa-10056	59	64	.	.	PUNCT
ajfa-10056	60	1	the	the	DET
ajfa-10056	60	2	cse	cse	NOUN
ajfa-10056	60	3	requires	require	VERB
ajfa-10056	60	4	each	each	DET
ajfa-10056	60	5	company	company	NOUN
ajfa-10056	60	6	to	to	PART
ajfa-10056	60	7	publish	publish	VERB
ajfa-10056	60	8	their	their	PRON
ajfa-10056	60	9	audited	audit	VERB
ajfa-10056	60	10	accounts	account	NOUN
ajfa-10056	60	11	by	by	ADP
ajfa-10056	60	12	june	june	PROPN
ajfa-10056	60	13	for	for	ADP
ajfa-10056	60	14	december	december	PROPN
ajfa-10056	60	15	-	-	PUNCT
ajfa-10056	60	16	end	end	NOUN
ajfa-10056	60	17	companies	company	NOUN
ajfa-10056	60	18	and	and	CCONJ
ajfa-10056	60	19	by	by	ADP
ajfa-10056	60	20	september	september	PROPN
ajfa-10056	60	21	for	for	ADP
ajfa-10056	60	22	march	march	NOUN
ajfa-10056	60	23	-	-	PUNCT
ajfa-10056	60	24	end	end	NOUN
ajfa-10056	60	25	companies	company	NOUN
ajfa-10056	60	26	.	.	PUNCT
ajfa-10056	61	1	therefore	therefore	ADV
ajfa-10056	61	2	following	follow	VERB
ajfa-10056	61	3	samarakoon	samarakoon	NOUN
ajfa-10056	61	4	(	(	PUNCT
ajfa-10056	61	5	1997	1997	NUM
ajfa-10056	61	6	)	)	PUNCT
ajfa-10056	61	7	september	september	PROPN
ajfa-10056	61	8	31st	31st	NOUN
ajfa-10056	61	9	is	be	AUX
ajfa-10056	61	10	chosen	choose	VERB
ajfa-10056	61	11	as	as	ADP
ajfa-10056	61	12	the	the	DET
ajfa-10056	61	13	portfolio	portfolio	NOUN
ajfa-10056	61	14	formation	formation	NOUN
ajfa-10056	61	15	date	date	NOUN
ajfa-10056	61	16	in	in	ADP
ajfa-10056	61	17	order	order	NOUN
ajfa-10056	61	18	to	to	PART
ajfa-10056	61	19	provide	provide	VERB
ajfa-10056	61	20	a	a	DET
ajfa-10056	61	21	gap	gap	NOUN
ajfa-10056	61	22	between	between	ADP
ajfa-10056	61	23	the	the	DET
ajfa-10056	61	24	financial	financial	ADJ
ajfa-10056	61	25	year	year	NOUN
ajfa-10056	61	26	-	-	PUNCT
ajfa-10056	61	27	end	end	NOUN
ajfa-10056	61	28	and	and	CCONJ
ajfa-10056	61	29	return	return	VERB
ajfa-10056	61	30	calculation	calculation	NOUN
ajfa-10056	61	31	period	period	NOUN
ajfa-10056	61	32	.	.	PUNCT
ajfa-10056	62	1	this	this	PRON
ajfa-10056	62	2	is	be	AUX
ajfa-10056	62	3	done	do	VERB
ajfa-10056	62	4	in	in	ADP
ajfa-10056	62	5	order	order	NOUN
ajfa-10056	62	6	to	to	PART
ajfa-10056	62	7	avoid	avoid	VERB
ajfa-10056	62	8	the	the	DET
ajfa-10056	62	9	‘	'	PUNCT
ajfa-10056	62	10	look	look	VERB
ajfa-10056	62	11	-	-	PUNCT
ajfa-10056	62	12	ahead	ahead	ADV
ajfa-10056	62	13	’	'	PUNCT
ajfa-10056	62	14	bias	bias	NOUN
ajfa-10056	62	15	as	as	SCONJ
ajfa-10056	62	16	emphasized	emphasize	VERB
ajfa-10056	62	17	by	by	ADP
ajfa-10056	62	18	banz	banz	NOUN
ajfa-10056	62	19	and	and	CCONJ
ajfa-10056	62	20	breen	breen	PROPN
ajfa-10056	62	21	(	(	PUNCT
ajfa-10056	62	22	1986	1986	NUM
ajfa-10056	62	23	)	)	PUNCT
ajfa-10056	62	24	.	.	PUNCT
ajfa-10056	63	1	further	far	ADV
ajfa-10056	63	2	to	to	PART
ajfa-10056	63	3	be	be	AUX
ajfa-10056	63	4	included	include	VERB
ajfa-10056	63	5	in	in	ADP
ajfa-10056	63	6	a	a	DET
ajfa-10056	63	7	size	size	NOUN
ajfa-10056	63	8	-	-	PUNCT
ajfa-10056	63	9	b	b	NOUN
ajfa-10056	63	10	/	/	SYM
ajfa-10056	63	11	m	m	PROPN
ajfa-10056	63	12	portfolio	portfolio	NOUN
ajfa-10056	63	13	a	a	DET
ajfa-10056	63	14	stock	stock	NOUN
ajfa-10056	63	15	is	be	AUX
ajfa-10056	63	16	required	require	VERB
ajfa-10056	63	17	to	to	PART
ajfa-10056	63	18	have	have	VERB
ajfa-10056	63	19	a	a	DET
ajfa-10056	63	20	return	return	NOUN
ajfa-10056	63	21	for	for	ADP
ajfa-10056	63	22	each	each	PRON
ajfa-10056	63	23	of	of	ADP
ajfa-10056	63	24	the	the	DET
ajfa-10056	63	25	twelve	twelve	NUM
ajfa-10056	63	26	months	month	NOUN
ajfa-10056	63	27	following	follow	VERB
ajfa-10056	63	28	the	the	DET
ajfa-10056	63	29	portfolio	portfolio	NOUN
ajfa-10056	63	30	formation	formation	NOUN
ajfa-10056	63	31	.	.	PUNCT
ajfa-10056	64	1	in	in	ADP
ajfa-10056	64	2	the	the	DET
ajfa-10056	64	3	2×3	2×3	NOUN
ajfa-10056	64	4	sorts	sort	NOUN
ajfa-10056	64	5	on	on	ADP
ajfa-10056	64	6	size	size	NOUN
ajfa-10056	64	7	and	and	CCONJ
ajfa-10056	64	8	b	b	X
ajfa-10056	64	9	/	/	SYM
ajfa-10056	64	10	m	m	PROPN
ajfa-10056	64	11	;	;	PUNCT
ajfa-10056	64	12	stocks	stock	NOUN
ajfa-10056	64	13	are	be	AUX
ajfa-10056	64	14	grouped	group	VERB
ajfa-10056	64	15	into	into	ADP
ajfa-10056	64	16	two	two	NUM
ajfa-10056	64	17	portfolios	portfolio	NOUN
ajfa-10056	64	18	based	base	VERB
ajfa-10056	64	19	on	on	ADP
ajfa-10056	64	20	the	the	DET
ajfa-10056	64	21	median	median	ADJ
ajfa-10056	64	22	market	market	NOUN
ajfa-10056	64	23	capitalization	capitalization	NOUN
ajfa-10056	64	24	.	.	PUNCT
ajfa-10056	65	1	further	far	ADV
ajfa-10056	65	2	the	the	DET
ajfa-10056	65	3	same	same	ADJ
ajfa-10056	65	4	stocks	stock	NOUN
ajfa-10056	65	5	are	be	AUX
ajfa-10056	65	6	grouped	group	VERB
ajfa-10056	65	7	in	in	ADP
ajfa-10056	65	8	to	to	ADP
ajfa-10056	65	9	three	three	NUM
ajfa-10056	65	10	portfolios	portfolio	NOUN
ajfa-10056	65	11	based	base	VERB
ajfa-10056	65	12	on	on	ADP
ajfa-10056	65	13	b	b	PROPN
ajfa-10056	65	14	/	/	SYM
ajfa-10056	65	15	m	m	NOUN
ajfa-10056	65	16	ratio	ratio	NOUN
ajfa-10056	65	17	,	,	PUNCT
ajfa-10056	65	18	where	where	SCONJ
ajfa-10056	65	19	the	the	DET
ajfa-10056	65	20	breakpoints	breakpoint	NOUN
ajfa-10056	65	21	are	be	AUX
ajfa-10056	65	22	taken	take	VERB
ajfa-10056	65	23	as	as	ADP
ajfa-10056	65	24	the	the	DET
ajfa-10056	65	25	30th	30th	ADJ
ajfa-10056	65	26	and	and	CCONJ
ajfa-10056	65	27	70th	70th	ADJ
ajfa-10056	65	28	percentiles	percentile	NOUN
ajfa-10056	65	29	of	of	ADP
ajfa-10056	65	30	the	the	DET
ajfa-10056	65	31	b	b	PROPN
ajfa-10056	65	32	/	/	SYM
ajfa-10056	65	33	m	m	NOUN
ajfa-10056	65	34	ratio	ratio	NOUN
ajfa-10056	65	35	.	.	PUNCT
ajfa-10056	66	1	asian	asian	ADJ
ajfa-10056	66	2	journal	journal	PROPN
ajfa-10056	66	3	of	of	ADP
ajfa-10056	66	4	finance	finance	PROPN
ajfa-10056	66	5	&	&	CCONJ
ajfa-10056	66	6	accounting	accounting	PROPN
ajfa-10056	66	7	issn	issn	PROPN
ajfa-10056	66	8	1946	1946	NUM
ajfa-10056	66	9	-	-	PUNCT
ajfa-10056	66	10	052x	052x	PROPN
ajfa-10056	66	11	2016	2016	NUM
ajfa-10056	66	12	,	,	PUNCT
ajfa-10056	66	13	vol	vol	NOUN
ajfa-10056	66	14	.	.	PROPN
ajfa-10056	66	15	8	8	NUM
ajfa-10056	66	16	,	,	PUNCT
ajfa-10056	66	17	no	no	INTJ
ajfa-10056	66	18	.	.	NOUN
ajfa-10056	66	19	2	2	NUM
ajfa-10056	66	20	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-10056	66	21	117	117	NUM
ajfa-10056	66	22	the	the	DET
ajfa-10056	66	23	intersection	intersection	NOUN
ajfa-10056	66	24	of	of	ADP
ajfa-10056	66	25	the	the	DET
ajfa-10056	66	26	independent	independent	ADJ
ajfa-10056	66	27	2×3	2×3	NOUN
ajfa-10056	66	28	sorts	sort	NOUN
ajfa-10056	66	29	on	on	ADP
ajfa-10056	66	30	size	size	NOUN
ajfa-10056	66	31	and	and	CCONJ
ajfa-10056	66	32	b	b	X
ajfa-10056	66	33	/	/	SYM
ajfa-10056	66	34	m	m	VERB
ajfa-10056	66	35	produces	produce	VERB
ajfa-10056	66	36	six	six	NUM
ajfa-10056	66	37	portfolios	portfolio	NOUN
ajfa-10056	66	38	:	:	PUNCT
ajfa-10056	66	39	sg	sg	PROPN
ajfa-10056	66	40	,	,	PUNCT
ajfa-10056	66	41	sn	sn	PROPN
ajfa-10056	66	42	,	,	PUNCT
ajfa-10056	66	43	sv	sv	PROPN
ajfa-10056	66	44	,	,	PUNCT
ajfa-10056	66	45	bg	bg	PROPN
ajfa-10056	66	46	,	,	PUNCT
ajfa-10056	66	47	bn	bn	NOUN
ajfa-10056	66	48	and	and	CCONJ
ajfa-10056	66	49	bv	bv	PROPN
ajfa-10056	66	50	,	,	PUNCT
ajfa-10056	66	51	where	where	SCONJ
ajfa-10056	66	52	s	s	NOUN
ajfa-10056	66	53	and	and	CCONJ
ajfa-10056	66	54	b	b	PROPN
ajfa-10056	66	55	indicate	indicate	VERB
ajfa-10056	66	56	small	small	ADJ
ajfa-10056	66	57	and	and	CCONJ
ajfa-10056	66	58	big	big	ADJ
ajfa-10056	66	59	and	and	CCONJ
ajfa-10056	66	60	g	g	NOUN
ajfa-10056	66	61	,	,	PUNCT
ajfa-10056	66	62	n	n	PROPN
ajfa-10056	66	63	and	and	CCONJ
ajfa-10056	66	64	v	v	NOUN
ajfa-10056	66	65	indicate	indicate	VERB
ajfa-10056	66	66	growth	growth	NOUN
ajfa-10056	66	67	,	,	PUNCT
ajfa-10056	66	68	neutral	neutral	ADJ
ajfa-10056	66	69	and	and	CCONJ
ajfa-10056	66	70	value	value	NOUN
ajfa-10056	66	71	respectively	respectively	ADV
ajfa-10056	66	72	.	.	PUNCT
ajfa-10056	67	1	growth	growth	NOUN
ajfa-10056	67	2	firms	firm	NOUN
ajfa-10056	67	3	have	have	VERB
ajfa-10056	67	4	a	a	DET
ajfa-10056	67	5	lower	low	ADJ
ajfa-10056	67	6	b	b	NOUN
ajfa-10056	67	7	/	/	SYM
ajfa-10056	67	8	m	m	PROPN
ajfa-10056	67	9	(	(	PUNCT
ajfa-10056	67	10	below	below	ADP
ajfa-10056	67	11	the	the	DET
ajfa-10056	67	12	30th	30th	ADJ
ajfa-10056	67	13	percentile	percentile	NOUN
ajfa-10056	67	14	)	)	PUNCT
ajfa-10056	67	15	and	and	CCONJ
ajfa-10056	67	16	value	value	NOUN
ajfa-10056	67	17	firms	firm	NOUN
ajfa-10056	67	18	have	have	VERB
ajfa-10056	67	19	a	a	DET
ajfa-10056	67	20	higher	high	ADJ
ajfa-10056	67	21	b	b	NOUN
ajfa-10056	67	22	/	/	SYM
ajfa-10056	67	23	m	m	PROPN
ajfa-10056	67	24	(	(	PUNCT
ajfa-10056	67	25	above	above	ADP
ajfa-10056	67	26	the	the	DET
ajfa-10056	67	27	70th	70th	ADJ
ajfa-10056	67	28	percentile	percentile	NOUN
ajfa-10056	67	29	)	)	PUNCT
ajfa-10056	67	30	.	.	PUNCT
ajfa-10056	68	1	the	the	DET
ajfa-10056	68	2	monthly	monthly	ADJ
ajfa-10056	68	3	size	size	NOUN
ajfa-10056	68	4	factor	factor	NOUN
ajfa-10056	68	5	(	(	PUNCT
ajfa-10056	68	6	smb	smb	NOUN
ajfa-10056	68	7	)	)	PUNCT
ajfa-10056	68	8	is	be	AUX
ajfa-10056	68	9	calculated	calculate	VERB
ajfa-10056	68	10	as	as	ADP
ajfa-10056	68	11	the	the	DET
ajfa-10056	68	12	difference	difference	NOUN
ajfa-10056	68	13	between	between	ADP
ajfa-10056	68	14	the	the	DET
ajfa-10056	68	15	average	average	ADJ
ajfa-10056	68	16	return	return	NOUN
ajfa-10056	68	17	on	on	ADP
ajfa-10056	68	18	the	the	DET
ajfa-10056	68	19	three	three	NUM
ajfa-10056	68	20	small	small	ADJ
ajfa-10056	68	21	-	-	PUNCT
ajfa-10056	68	22	cap	cap	NOUN
ajfa-10056	68	23	stock	stock	NOUN
ajfa-10056	68	24	portfolios	portfolio	NOUN
ajfa-10056	68	25	and	and	CCONJ
ajfa-10056	68	26	the	the	DET
ajfa-10056	68	27	three	three	NUM
ajfa-10056	68	28	big	big	ADJ
ajfa-10056	68	29	-	-	PUNCT
ajfa-10056	68	30	cap	cap	NOUN
ajfa-10056	68	31	stock	stock	NOUN
ajfa-10056	68	32	portfolios	portfolio	NOUN
ajfa-10056	68	33	.	.	PUNCT
ajfa-10056	69	1	the	the	DET
ajfa-10056	69	2	monthly	monthly	ADJ
ajfa-10056	69	3	value	value	NOUN
ajfa-10056	69	4	factor	factor	NOUN
ajfa-10056	69	5	(	(	PUNCT
ajfa-10056	69	6	hml	hml	PROPN
ajfa-10056	69	7	)	)	PUNCT
ajfa-10056	69	8	is	be	AUX
ajfa-10056	69	9	calculated	calculate	VERB
ajfa-10056	69	10	as	as	ADP
ajfa-10056	69	11	the	the	DET
ajfa-10056	69	12	difference	difference	NOUN
ajfa-10056	69	13	between	between	ADP
ajfa-10056	69	14	the	the	DET
ajfa-10056	69	15	average	average	ADJ
ajfa-10056	69	16	return	return	NOUN
ajfa-10056	69	17	of	of	ADP
ajfa-10056	69	18	the	the	DET
ajfa-10056	69	19	two	two	NUM
ajfa-10056	69	20	high	high	ADJ
ajfa-10056	69	21	b	b	PROPN
ajfa-10056	69	22	/	/	SYM
ajfa-10056	69	23	m	m	NOUN
ajfa-10056	69	24	portfolios	portfolio	NOUN
ajfa-10056	69	25	(	(	PUNCT
ajfa-10056	69	26	value	value	NOUN
ajfa-10056	69	27	portfolios	portfolio	NOUN
ajfa-10056	69	28	)	)	PUNCT
ajfa-10056	69	29	and	and	CCONJ
ajfa-10056	69	30	the	the	DET
ajfa-10056	69	31	average	average	ADJ
ajfa-10056	69	32	return	return	NOUN
ajfa-10056	69	33	of	of	ADP
ajfa-10056	69	34	the	the	DET
ajfa-10056	69	35	two	two	NUM
ajfa-10056	69	36	low	low	ADJ
ajfa-10056	69	37	b	b	PROPN
ajfa-10056	69	38	/	/	SYM
ajfa-10056	69	39	m	m	NOUN
ajfa-10056	69	40	portfolios	portfolio	NOUN
ajfa-10056	69	41	(	(	PUNCT
ajfa-10056	69	42	growth	growth	NOUN
ajfa-10056	69	43	portfolios	portfolio	NOUN
ajfa-10056	69	44	)	)	PUNCT
ajfa-10056	69	45	.	.	PUNCT
ajfa-10056	70	1	in	in	ADP
ajfa-10056	70	2	order	order	NOUN
ajfa-10056	70	3	to	to	PART
ajfa-10056	70	4	generate	generate	VERB
ajfa-10056	70	5	returns	return	NOUN
ajfa-10056	70	6	to	to	PART
ajfa-10056	70	7	be	be	AUX
ajfa-10056	70	8	used	use	VERB
ajfa-10056	70	9	for	for	ADP
ajfa-10056	70	10	the	the	DET
ajfa-10056	70	11	regression	regression	NOUN
ajfa-10056	70	12	as	as	ADP
ajfa-10056	70	13	dependent	dependent	ADJ
ajfa-10056	70	14	variables	variable	NOUN
ajfa-10056	70	15	,	,	PUNCT
ajfa-10056	70	16	lhs	lhs	PROPN
ajfa-10056	70	17	portfolios	portfolio	NOUN
ajfa-10056	70	18	are	be	AUX
ajfa-10056	70	19	created	create	VERB
ajfa-10056	70	20	using	use	VERB
ajfa-10056	70	21	3×3	3×3	NUM
ajfa-10056	70	22	sorts	sort	NOUN
ajfa-10056	70	23	on	on	ADP
ajfa-10056	70	24	size	size	NOUN
ajfa-10056	70	25	and	and	CCONJ
ajfa-10056	70	26	b	b	NOUN
ajfa-10056	70	27	/	/	SYM
ajfa-10056	70	28	m	m	PROPN
ajfa-10056	70	29	,	,	PUNCT
ajfa-10056	70	30	resulting	result	VERB
ajfa-10056	70	31	in	in	ADP
ajfa-10056	70	32	9	9	NUM
ajfa-10056	70	33	portfolios	portfolio	NOUN
ajfa-10056	70	34	.	.	PUNCT
ajfa-10056	71	1	given	give	VERB
ajfa-10056	71	2	the	the	DET
ajfa-10056	71	3	minute	minute	ADJ
ajfa-10056	71	4	size	size	NOUN
ajfa-10056	71	5	of	of	ADP
ajfa-10056	71	6	the	the	DET
ajfa-10056	71	7	cse	cse	NOUN
ajfa-10056	71	8	,	,	PUNCT
ajfa-10056	71	9	tertiles	tertile	NOUN
ajfa-10056	71	10	are	be	AUX
ajfa-10056	71	11	used	use	VERB
ajfa-10056	71	12	as	as	ADP
ajfa-10056	71	13	the	the	DET
ajfa-10056	71	14	breakpoints	breakpoint	NOUN
ajfa-10056	71	15	;	;	PUNCT
ajfa-10056	71	16	using	use	VERB
ajfa-10056	71	17	quartiles	quartile	NOUN
ajfa-10056	71	18	or	or	CCONJ
ajfa-10056	71	19	quintiles	quintile	NOUN
ajfa-10056	71	20	result	result	VERB
ajfa-10056	71	21	in	in	ADP
ajfa-10056	71	22	some	some	DET
ajfa-10056	71	23	portfolios	portfolio	NOUN
ajfa-10056	71	24	having	have	VERB
ajfa-10056	71	25	zero	zero	NUM
ajfa-10056	71	26	stocks	stock	NOUN
ajfa-10056	71	27	.	.	PUNCT
ajfa-10056	72	1	in	in	ADP
ajfa-10056	72	2	order	order	NOUN
ajfa-10056	72	3	to	to	PART
ajfa-10056	72	4	calculate	calculate	VERB
ajfa-10056	72	5	the	the	DET
ajfa-10056	72	6	momentum	momentum	NOUN
ajfa-10056	72	7	factor	factor	NOUN
ajfa-10056	72	8	(	(	PUNCT
ajfa-10056	72	9	wml	wml	PROPN
ajfa-10056	72	10	)	)	PUNCT
ajfa-10056	72	11	another	another	DET
ajfa-10056	72	12	2×3	2×3	NOUN
ajfa-10056	72	13	sorts	sort	NOUN
ajfa-10056	72	14	is	be	AUX
ajfa-10056	72	15	used	use	VERB
ajfa-10056	72	16	where	where	SCONJ
ajfa-10056	72	17	b	b	X
ajfa-10056	72	18	/	/	SYM
ajfa-10056	72	19	m	m	VERB
ajfa-10056	72	20	is	be	AUX
ajfa-10056	72	21	replaced	replace	VERB
ajfa-10056	72	22	by	by	ADP
ajfa-10056	72	23	the	the	DET
ajfa-10056	72	24	lagged	lag	VERB
ajfa-10056	72	25	return	return	NOUN
ajfa-10056	72	26	.	.	PUNCT
ajfa-10056	73	1	since	since	SCONJ
ajfa-10056	73	2	momentum	momentum	NOUN
ajfa-10056	73	3	returns	return	NOUN
ajfa-10056	73	4	are	be	AUX
ajfa-10056	73	5	short	short	ADJ
ajfa-10056	73	6	term	term	NOUN
ajfa-10056	73	7	(	(	PUNCT
ajfa-10056	73	8	jegadeesh	jegadeesh	NOUN
ajfa-10056	73	9	and	and	CCONJ
ajfa-10056	73	10	titman	titman	NOUN
ajfa-10056	73	11	,	,	PUNCT
ajfa-10056	73	12	1993	1993	NUM
ajfa-10056	73	13	)	)	PUNCT
ajfa-10056	73	14	size	size	NOUN
ajfa-10056	73	15	-	-	PUNCT
ajfa-10056	73	16	momentum	momentum	NOUN
ajfa-10056	73	17	portfolios	portfolio	NOUN
ajfa-10056	73	18	are	be	AUX
ajfa-10056	73	19	formed	form	VERB
ajfa-10056	73	20	monthly	monthly	ADJ
ajfa-10056	73	21	and	and	CCONJ
ajfa-10056	73	22	the	the	DET
ajfa-10056	73	23	return	return	NOUN
ajfa-10056	73	24	of	of	ADP
ajfa-10056	73	25	the	the	DET
ajfa-10056	73	26	portfolios	portfolio	NOUN
ajfa-10056	73	27	are	be	AUX
ajfa-10056	73	28	calculated	calculate	VERB
ajfa-10056	73	29	for	for	ADP
ajfa-10056	73	30	the	the	DET
ajfa-10056	73	31	succeeding	succeed	VERB
ajfa-10056	73	32	month	month	NOUN
ajfa-10056	73	33	(	(	PUNCT
ajfa-10056	73	34	fama	fama	NOUN
ajfa-10056	73	35	and	and	CCONJ
ajfa-10056	73	36	french	french	ADJ
ajfa-10056	73	37	,	,	PUNCT
ajfa-10056	73	38	2008	2008	NUM
ajfa-10056	73	39	and	and	CCONJ
ajfa-10056	73	40	2012	2012	NUM
ajfa-10056	73	41	)	)	PUNCT
ajfa-10056	73	42	.	.	PUNCT
ajfa-10056	74	1	therefore	therefore	ADV
ajfa-10056	74	2	to	to	PART
ajfa-10056	74	3	be	be	AUX
ajfa-10056	74	4	included	include	VERB
ajfa-10056	74	5	in	in	ADP
ajfa-10056	74	6	a	a	DET
ajfa-10056	74	7	size	size	NOUN
ajfa-10056	74	8	-	-	PUNCT
ajfa-10056	74	9	momentum	momentum	NOUN
ajfa-10056	74	10	portfolio	portfolio	NOUN
ajfa-10056	74	11	,	,	PUNCT
ajfa-10056	74	12	a	a	DET
ajfa-10056	74	13	stock	stock	NOUN
ajfa-10056	74	14	is	be	AUX
ajfa-10056	74	15	required	require	VERB
ajfa-10056	74	16	to	to	PART
ajfa-10056	74	17	have	have	VERB
ajfa-10056	74	18	a	a	DET
ajfa-10056	74	19	return	return	NOUN
ajfa-10056	74	20	for	for	ADP
ajfa-10056	74	21	the	the	DET
ajfa-10056	74	22	month	month	NOUN
ajfa-10056	74	23	following	follow	VERB
ajfa-10056	74	24	the	the	DET
ajfa-10056	74	25	portfolio	portfolio	NOUN
ajfa-10056	74	26	formation	formation	NOUN
ajfa-10056	74	27	.	.	PUNCT
ajfa-10056	75	1	all	all	DET
ajfa-10056	75	2	other	other	ADJ
ajfa-10056	75	3	mechanics	mechanic	NOUN
ajfa-10056	75	4	of	of	ADP
ajfa-10056	75	5	portfolio	portfolio	NOUN
ajfa-10056	75	6	formation	formation	NOUN
ajfa-10056	75	7	remains	remain	VERB
ajfa-10056	75	8	the	the	DET
ajfa-10056	75	9	same	same	ADJ
ajfa-10056	75	10	;	;	PUNCT
ajfa-10056	75	11	thus	thus	ADV
ajfa-10056	75	12	generating	generate	VERB
ajfa-10056	75	13	another	another	DET
ajfa-10056	75	14	set	set	NOUN
ajfa-10056	75	15	of	of	ADP
ajfa-10056	75	16	six	six	NUM
ajfa-10056	75	17	portfolios	portfolio	NOUN
ajfa-10056	75	18	:	:	PUNCT
ajfa-10056	75	19	sl	sl	NUM
ajfa-10056	75	20	,	,	PUNCT
ajfa-10056	75	21	sn	sn	PROPN
ajfa-10056	75	22	,	,	PUNCT
ajfa-10056	75	23	sw	sw	PROPN
ajfa-10056	75	24	,	,	PUNCT
ajfa-10056	75	25	bl	bl	PROPN
ajfa-10056	75	26	,	,	PUNCT
ajfa-10056	75	27	bn	bn	NOUN
ajfa-10056	75	28	and	and	CCONJ
ajfa-10056	75	29	bw	bw	NOUN
ajfa-10056	75	30	,	,	PUNCT
ajfa-10056	75	31	where	where	SCONJ
ajfa-10056	75	32	s	s	NOUN
ajfa-10056	75	33	and	and	CCONJ
ajfa-10056	75	34	b	b	PROPN
ajfa-10056	75	35	indicate	indicate	VERB
ajfa-10056	75	36	small	small	ADJ
ajfa-10056	75	37	and	and	CCONJ
ajfa-10056	75	38	big	big	ADJ
ajfa-10056	75	39	,	,	PUNCT
ajfa-10056	75	40	and	and	CCONJ
ajfa-10056	75	41	l	l	NOUN
ajfa-10056	75	42	,	,	PUNCT
ajfa-10056	75	43	n	n	PROPN
ajfa-10056	75	44	and	and	CCONJ
ajfa-10056	75	45	w	w	PROPN
ajfa-10056	75	46	indicate	indicate	VERB
ajfa-10056	75	47	losers	loser	NOUN
ajfa-10056	75	48	,	,	PUNCT
ajfa-10056	75	49	neutral	neutral	ADJ
ajfa-10056	75	50	and	and	CCONJ
ajfa-10056	75	51	winners	winner	NOUN
ajfa-10056	75	52	respectively	respectively	ADV
ajfa-10056	75	53	.	.	PUNCT
ajfa-10056	76	1	losers	loser	NOUN
ajfa-10056	76	2	are	be	AUX
ajfa-10056	76	3	firms	firm	NOUN
ajfa-10056	76	4	with	with	ADP
ajfa-10056	76	5	a	a	DET
ajfa-10056	76	6	lagged	lag	VERB
ajfa-10056	76	7	return	return	NOUN
ajfa-10056	76	8	below	below	ADP
ajfa-10056	76	9	the	the	DET
ajfa-10056	76	10	30th	30th	ADJ
ajfa-10056	76	11	percentile	percentile	NOUN
ajfa-10056	76	12	and	and	CCONJ
ajfa-10056	76	13	winners	winner	NOUN
ajfa-10056	76	14	are	be	AUX
ajfa-10056	76	15	firms	firm	NOUN
ajfa-10056	76	16	with	with	ADP
ajfa-10056	76	17	a	a	DET
ajfa-10056	76	18	lagged	lag	VERB
ajfa-10056	76	19	return	return	NOUN
ajfa-10056	76	20	higher	high	ADJ
ajfa-10056	76	21	than	than	ADP
ajfa-10056	76	22	the	the	DET
ajfa-10056	76	23	70th	70th	ADJ
ajfa-10056	76	24	percentile	percentile	NOUN
ajfa-10056	76	25	.	.	PUNCT
ajfa-10056	77	1	the	the	DET
ajfa-10056	77	2	monthly	monthly	ADJ
ajfa-10056	77	3	momentum	momentum	NOUN
ajfa-10056	77	4	factor	factor	NOUN
ajfa-10056	77	5	(	(	PUNCT
ajfa-10056	77	6	wml	wml	PROPN
ajfa-10056	77	7	)	)	PUNCT
ajfa-10056	77	8	is	be	AUX
ajfa-10056	77	9	calculated	calculate	VERB
ajfa-10056	77	10	as	as	ADP
ajfa-10056	77	11	the	the	DET
ajfa-10056	77	12	difference	difference	NOUN
ajfa-10056	77	13	between	between	ADP
ajfa-10056	77	14	the	the	DET
ajfa-10056	77	15	average	average	ADJ
ajfa-10056	77	16	return	return	NOUN
ajfa-10056	77	17	of	of	ADP
ajfa-10056	77	18	the	the	DET
ajfa-10056	77	19	two	two	NUM
ajfa-10056	77	20	winners	winner	NOUN
ajfa-10056	77	21	’	’	PART
ajfa-10056	77	22	portfolios	portfolio	NOUN
ajfa-10056	77	23	and	and	CCONJ
ajfa-10056	77	24	the	the	DET
ajfa-10056	77	25	average	average	ADJ
ajfa-10056	77	26	return	return	NOUN
ajfa-10056	77	27	of	of	ADP
ajfa-10056	77	28	the	the	DET
ajfa-10056	77	29	two	two	NUM
ajfa-10056	77	30	losers	loser	NOUN
ajfa-10056	77	31	’	’	PART
ajfa-10056	77	32	portfolios	portfolio	NOUN
ajfa-10056	77	33	.	.	PUNCT
ajfa-10056	78	1	a	a	DET
ajfa-10056	78	2	group	group	NOUN
ajfa-10056	78	3	of	of	ADP
ajfa-10056	78	4	lhs	lhs	PROPN
ajfa-10056	78	5	portfolios	portfolio	NOUN
ajfa-10056	78	6	are	be	AUX
ajfa-10056	78	7	formed	form	VERB
ajfa-10056	78	8	withtertiles	withtertile	NOUN
ajfa-10056	78	9	as	as	ADP
ajfa-10056	78	10	the	the	DET
ajfa-10056	78	11	breakpoints	breakpoint	NOUN
ajfa-10056	78	12	by	by	ADP
ajfa-10056	78	13	using	use	VERB
ajfa-10056	78	14	3×3	3×3	NUM
ajfa-10056	78	15	sorts	sort	NOUN
ajfa-10056	78	16	on	on	ADP
ajfa-10056	78	17	size	size	NOUN
ajfa-10056	78	18	and	and	CCONJ
ajfa-10056	78	19	momentum	momentum	NOUN
ajfa-10056	78	20	.	.	PUNCT
ajfa-10056	79	1	this	this	PRON
ajfa-10056	79	2	is	be	AUX
ajfa-10056	79	3	done	do	VERB
ajfa-10056	79	4	so	so	SCONJ
ajfa-10056	79	5	that	that	SCONJ
ajfa-10056	79	6	another	another	DET
ajfa-10056	79	7	set	set	NOUN
ajfa-10056	79	8	of	of	ADP
ajfa-10056	79	9	regressions	regression	NOUN
ajfa-10056	79	10	could	could	AUX
ajfa-10056	79	11	be	be	AUX
ajfa-10056	79	12	run	run	VERB
ajfa-10056	79	13	using	use	VERB
ajfa-10056	79	14	these	these	DET
ajfa-10056	79	15	nine	nine	NUM
ajfa-10056	79	16	portfolio	portfolio	NOUN
ajfa-10056	79	17	returns	return	NOUN
ajfa-10056	79	18	as	as	ADP
ajfa-10056	79	19	the	the	DET
ajfa-10056	79	20	dependent	dependent	ADJ
ajfa-10056	79	21	variables	variable	NOUN
ajfa-10056	79	22	.	.	PUNCT
ajfa-10056	80	1	4.2	4.2	NUM
ajfa-10056	80	2	statistical	statistical	ADJ
ajfa-10056	80	3	methods	method	NOUN
ajfa-10056	80	4	in	in	ADP
ajfa-10056	80	5	order	order	NOUN
ajfa-10056	80	6	to	to	PART
ajfa-10056	80	7	evaluate	evaluate	VERB
ajfa-10056	80	8	the	the	DET
ajfa-10056	80	9	overall	overall	ADJ
ajfa-10056	80	10	validity	validity	NOUN
ajfa-10056	80	11	of	of	ADP
ajfa-10056	80	12	the	the	DET
ajfa-10056	80	13	four	four	NUM
ajfa-10056	80	14	-	-	PUNCT
ajfa-10056	80	15	factor	factor	NOUN
ajfa-10056	80	16	model	model	NOUN
ajfa-10056	80	17	,	,	PUNCT
ajfa-10056	80	18	in	in	ADP
ajfa-10056	80	19	its	its	PRON
ajfa-10056	80	20	ability	ability	NOUN
ajfa-10056	80	21	to	to	PART
ajfa-10056	80	22	explain	explain	VERB
ajfa-10056	80	23	the	the	DET
ajfa-10056	80	24	differences	difference	NOUN
ajfa-10056	80	25	of	of	ADP
ajfa-10056	80	26	the	the	DET
ajfa-10056	80	27	cross	cross	NOUN
ajfa-10056	80	28	sectional	sectional	ADJ
ajfa-10056	80	29	average	average	ADJ
ajfa-10056	80	30	excess	excess	ADJ
ajfa-10056	80	31	returns	return	NOUN
ajfa-10056	80	32	of	of	ADP
ajfa-10056	80	33	the	the	DET
ajfa-10056	80	34	cse	cse	NOUN
ajfa-10056	80	35	and	and	CCONJ
ajfa-10056	80	36	to	to	PART
ajfa-10056	80	37	compare	compare	VERB
ajfa-10056	80	38	its	its	PRON
ajfa-10056	80	39	performance	performance	NOUN
ajfa-10056	80	40	relative	relative	ADJ
ajfa-10056	80	41	to	to	ADP
ajfa-10056	80	42	the	the	DET
ajfa-10056	80	43	capm	capm	PROPN
ajfa-10056	80	44	and	and	CCONJ
ajfa-10056	80	45	the	the	DET
ajfa-10056	80	46	three	three	NUM
ajfa-10056	80	47	-	-	PUNCT
ajfa-10056	80	48	factor	factor	NOUN
ajfa-10056	80	49	model	model	NOUN
ajfa-10056	80	50	;	;	PUNCT
ajfa-10056	80	51	the	the	DET
ajfa-10056	80	52	grs	grs	PROPN
ajfa-10056	80	53	f	f	NOUN
ajfa-10056	80	54	-	-	PUNCT
ajfa-10056	80	55	statistic	statistic	NOUN
ajfa-10056	80	56	along	along	ADP
ajfa-10056	80	57	with	with	ADP
ajfa-10056	80	58	its	its	PRON
ajfa-10056	80	59	p	p	NOUN
ajfa-10056	80	60	-	-	PUNCT
ajfa-10056	80	61	value	value	NOUN
ajfa-10056	80	62	,	,	PUNCT
ajfa-10056	80	63	the	the	DET
ajfa-10056	80	64	average	average	ADJ
ajfa-10056	80	65	absolute	absolute	ADJ
ajfa-10056	80	66	intercept	intercept	NOUN
ajfa-10056	80	67	(	(	PUNCT
ajfa-10056	80	68	denoted	denote	VERB
ajfa-10056	80	69	by	by	ADP
ajfa-10056	80	70	|a|	|a|	NOUN
ajfa-10056	80	71	)	)	PUNCT
ajfa-10056	80	72	,	,	PUNCT
ajfa-10056	80	73	the	the	DET
ajfa-10056	80	74	average	average	ADJ
ajfa-10056	80	75	adjusted	adjusted	ADJ
ajfa-10056	80	76	r2	r2	NOUN
ajfa-10056	80	77	,	,	PUNCT
ajfa-10056	80	78	the	the	DET
ajfa-10056	80	79	average	average	ADJ
ajfa-10056	80	80	standard	standard	ADJ
ajfa-10056	80	81	error	error	NOUN
ajfa-10056	80	82	of	of	ADP
ajfa-10056	80	83	the	the	DET
ajfa-10056	80	84	intercepts	intercept	NOUN
ajfa-10056	80	85	[	[	X
ajfa-10056	80	86	s(a	s(a	NOUN
ajfa-10056	80	87	)	)	PUNCT
ajfa-10056	80	88	]	]	PUNCT
ajfa-10056	80	89	and	and	CCONJ
ajfa-10056	80	90	the	the	DET
ajfa-10056	80	91	sharpe	sharpe	PROPN
ajfa-10056	80	92	ratio	ratio	NOUN
ajfa-10056	80	93	for	for	ADP
ajfa-10056	80	94	the	the	DET
ajfa-10056	80	95	intercepts	intercept	NOUN
ajfa-10056	80	96	[	[	PUNCT
ajfa-10056	80	97	denoted	denote	VERB
ajfa-10056	80	98	by	by	ADP
ajfa-10056	80	99	sr(a	sr(a	ADJ
ajfa-10056	80	100	)	)	PUNCT
ajfa-10056	80	101	]	]	PUNCT
ajfa-10056	80	102	are	be	AUX
ajfa-10056	80	103	reported	report	VERB
ajfa-10056	80	104	and	and	CCONJ
ajfa-10056	80	105	analyzed	analyze	VERB
ajfa-10056	80	106	.	.	PUNCT
ajfa-10056	81	1	the	the	DET
ajfa-10056	81	2	grs	grs	PROPN
ajfa-10056	81	3	f	f	X
ajfa-10056	81	4	-	-	PUNCT
ajfa-10056	81	5	statistic	statistic	NOUN
ajfa-10056	81	6	is	be	AUX
ajfa-10056	81	7	used	use	VERB
ajfa-10056	81	8	to	to	PART
ajfa-10056	81	9	test	test	VERB
ajfa-10056	81	10	the	the	DET
ajfa-10056	81	11	hypothesis	hypothesis	NOUN
ajfa-10056	81	12	that	that	PRON
ajfa-10056	81	13	the	the	DET
ajfa-10056	81	14	regression	regression	NOUN
ajfa-10056	81	15	intercepts	intercept	NOUN
ajfa-10056	81	16	for	for	ADP
ajfa-10056	81	17	a	a	DET
ajfa-10056	81	18	set	set	NOUN
ajfa-10056	81	19	of	of	ADP
ajfa-10056	81	20	9	9	NUM
ajfa-10056	81	21	portfolios	portfolio	NOUN
ajfa-10056	81	22	are	be	AUX
ajfa-10056	81	23	statistically	statistically	ADV
ajfa-10056	81	24	indistinguishable	indistinguishable	ADJ
ajfa-10056	81	25	from	from	ADP
ajfa-10056	81	26	zero	zero	NUM
ajfa-10056	81	27	(	(	PUNCT
ajfa-10056	81	28	gibbons	gibbon	NOUN
ajfa-10056	81	29	,	,	PUNCT
ajfa-10056	81	30	ross	ross	PROPN
ajfa-10056	81	31	and	and	CCONJ
ajfa-10056	81	32	shanken	shanken	VERB
ajfa-10056	81	33	,	,	PUNCT
ajfa-10056	81	34	1989	1989	NUM
ajfa-10056	81	35	)	)	PUNCT
ajfa-10056	81	36	.	.	PUNCT
ajfa-10056	82	1	the	the	DET
ajfa-10056	82	2	sr(a	sr(a	NUM
ajfa-10056	82	3	)	)	PUNCT
ajfa-10056	82	4	is	be	AUX
ajfa-10056	82	5	the	the	DET
ajfa-10056	82	6	maximum	maximum	PROPN
ajfa-10056	82	7	sharpe	sharpe	PROPN
ajfa-10056	82	8	ratio	ratio	NOUN
ajfa-10056	82	9	for	for	ADP
ajfa-10056	82	10	excess	excess	ADJ
ajfa-10056	82	11	returns	return	NOUN
ajfa-10056	82	12	on	on	ADP
ajfa-10056	82	13	the	the	DET
ajfa-10056	82	14	portfolios	portfolio	NOUN
ajfa-10056	82	15	of	of	ADP
ajfa-10056	82	16	the	the	DET
ajfa-10056	82	17	lhs	lhs	PROPN
ajfa-10056	82	18	assets	asset	NOUN
ajfa-10056	82	19	contracted	contract	VERB
ajfa-10056	82	20	to	to	PART
ajfa-10056	82	21	have	have	VERB
ajfa-10056	82	22	zero	zero	NUM
ajfa-10056	82	23	slopes	slope	NOUN
ajfa-10056	82	24	on	on	ADP
ajfa-10056	82	25	the	the	DET
ajfa-10056	82	26	rhs	rhs	PROPN
ajfa-10056	82	27	returns	return	NOUN
ajfa-10056	82	28	.	.	PUNCT
ajfa-10056	83	1	in	in	ADP
ajfa-10056	83	2	other	other	ADJ
ajfa-10056	83	3	words	word	NOUN
ajfa-10056	83	4	it	it	PRON
ajfa-10056	83	5	can	can	AUX
ajfa-10056	83	6	be	be	AUX
ajfa-10056	83	7	termed	term	VERB
ajfa-10056	83	8	as	as	ADP
ajfa-10056	83	9	the	the	DET
ajfa-10056	83	10	sharpe	sharpe	PROPN
ajfa-10056	83	11	ratio	ratio	NOUN
ajfa-10056	83	12	for	for	ADP
ajfa-10056	83	13	the	the	DET
ajfa-10056	83	14	intercepts	intercept	NOUN
ajfa-10056	83	15	(	(	PUNCT
ajfa-10056	83	16	i.e.	i.e.	X
ajfa-10056	83	17	unexplained	unexplained	ADJ
ajfa-10056	83	18	average	average	ADJ
ajfa-10056	83	19	returns	return	NOUN
ajfa-10056	83	20	)	)	PUNCT
ajfa-10056	83	21	of	of	ADP
ajfa-10056	83	22	a	a	DET
ajfa-10056	83	23	model	model	NOUN
ajfa-10056	83	24	(	(	PUNCT
ajfa-10056	83	25	fama	fama	NOUN
ajfa-10056	83	26	and	and	CCONJ
ajfa-10056	83	27	french	french	ADJ
ajfa-10056	83	28	,	,	PUNCT
ajfa-10056	83	29	2012	2012	NUM
ajfa-10056	83	30	)	)	PUNCT
ajfa-10056	83	31	.	.	PUNCT
ajfa-10056	84	1	given	give	VERB
ajfa-10056	84	2	the	the	DET
ajfa-10056	84	3	above	above	ADJ
ajfa-10056	84	4	definition	definition	NOUN
ajfa-10056	84	5	for	for	ADP
ajfa-10056	84	6	the	the	DET
ajfa-10056	84	7	sr(a	sr(a	NOUN
ajfa-10056	84	8	)	)	PUNCT
ajfa-10056	84	9	it	it	PRON
ajfa-10056	84	10	follows	follow	VERB
ajfa-10056	84	11	that	that	SCONJ
ajfa-10056	84	12	lower	low	ADJ
ajfa-10056	84	13	the	the	DET
ajfa-10056	84	14	sharpe	sharpe	PROPN
ajfa-10056	84	15	ratio	ratio	NOUN
ajfa-10056	84	16	for	for	ADP
ajfa-10056	84	17	the	the	DET
ajfa-10056	84	18	asian	asian	ADJ
ajfa-10056	84	19	journal	journal	NOUN
ajfa-10056	84	20	of	of	ADP
ajfa-10056	84	21	finance	finance	PROPN
ajfa-10056	84	22	&	&	CCONJ
ajfa-10056	84	23	accounting	accounting	PROPN
ajfa-10056	84	24	issn	issn	PROPN
ajfa-10056	84	25	1946	1946	NUM
ajfa-10056	84	26	-	-	PUNCT
ajfa-10056	84	27	052x	052x	PROPN
ajfa-10056	84	28	2016	2016	NUM
ajfa-10056	84	29	,	,	PUNCT
ajfa-10056	84	30	vol	vol	NOUN
ajfa-10056	84	31	.	.	PROPN
ajfa-10056	84	32	8	8	NUM
ajfa-10056	84	33	,	,	PUNCT
ajfa-10056	84	34	no	no	INTJ
ajfa-10056	84	35	.	.	NOUN
ajfa-10056	84	36	2	2	NUM
ajfa-10056	84	37	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	84	38	118	118	NUM
ajfa-10056	84	39	intercepts	intercept	NOUN
ajfa-10056	84	40	better	well	ADJ
ajfa-10056	84	41	the	the	DET
ajfa-10056	84	42	model	model	NOUN
ajfa-10056	84	43	is	be	AUX
ajfa-10056	84	44	.	.	PUNCT
ajfa-10056	85	1	as	as	ADP
ajfa-10056	85	2	the	the	DET
ajfa-10056	85	3	sr(a	sr(a	PUNCT
ajfa-10056	85	4	)	)	PUNCT
ajfa-10056	85	5	combines	combine	VERB
ajfa-10056	85	6	information	information	NOUN
ajfa-10056	85	7	about	about	ADP
ajfa-10056	85	8	both	both	CCONJ
ajfa-10056	85	9	the	the	DET
ajfa-10056	85	10	magnitude	magnitude	NOUN
ajfa-10056	85	11	and	and	CCONJ
ajfa-10056	85	12	the	the	DET
ajfa-10056	85	13	precision	precision	NOUN
ajfa-10056	85	14	of	of	ADP
ajfa-10056	85	15	the	the	DET
ajfa-10056	85	16	intercepts	intercept	NOUN
ajfa-10056	85	17	into	into	ADP
ajfa-10056	85	18	one	one	NUM
ajfa-10056	85	19	summary	summary	NOUN
ajfa-10056	85	20	statistic	statistic	NOUN
ajfa-10056	85	21	,	,	PUNCT
ajfa-10056	85	22	the	the	DET
ajfa-10056	85	23	average	average	ADJ
ajfa-10056	85	24	absolute	absolute	ADJ
ajfa-10056	85	25	intercept	intercept	NOUN
ajfa-10056	85	26	(	(	PUNCT
ajfa-10056	85	27	as	as	ADP
ajfa-10056	85	28	a	a	DET
ajfa-10056	85	29	measure	measure	NOUN
ajfa-10056	85	30	of	of	ADP
ajfa-10056	85	31	the	the	DET
ajfa-10056	85	32	relative	relative	ADJ
ajfa-10056	85	33	magnitude	magnitude	NOUN
ajfa-10056	85	34	)	)	PUNCT
ajfa-10056	85	35	and	and	CCONJ
ajfa-10056	85	36	the	the	DET
ajfa-10056	85	37	average	average	ADJ
ajfa-10056	85	38	r2	r2	NOUN
ajfa-10056	85	39	and	and	CCONJ
ajfa-10056	85	40	the	the	DET
ajfa-10056	85	41	average	average	ADJ
ajfa-10056	85	42	standard	standard	ADJ
ajfa-10056	85	43	error	error	NOUN
ajfa-10056	85	44	of	of	ADP
ajfa-10056	85	45	the	the	DET
ajfa-10056	85	46	intercepts	intercept	NOUN
ajfa-10056	85	47	(	(	PUNCT
ajfa-10056	85	48	as	as	ADP
ajfa-10056	85	49	measures	measure	NOUN
ajfa-10056	85	50	of	of	ADP
ajfa-10056	85	51	precision	precision	NOUN
ajfa-10056	85	52	)	)	PUNCT
ajfa-10056	85	53	are	be	AUX
ajfa-10056	85	54	also	also	ADV
ajfa-10056	85	55	reported	report	VERB
ajfa-10056	85	56	separately	separately	ADV
ajfa-10056	85	57	so	so	SCONJ
ajfa-10056	85	58	that	that	SCONJ
ajfa-10056	85	59	information	information	NOUN
ajfa-10056	85	60	on	on	ADP
ajfa-10056	85	61	the	the	DET
ajfa-10056	85	62	magnitude	magnitude	NOUN
ajfa-10056	85	63	and	and	CCONJ
ajfa-10056	85	64	the	the	DET
ajfa-10056	85	65	precision	precision	NOUN
ajfa-10056	85	66	of	of	ADP
ajfa-10056	85	67	intercepts	intercept	NOUN
ajfa-10056	85	68	are	be	AUX
ajfa-10056	85	69	not	not	PART
ajfa-10056	85	70	lost	lose	VERB
ajfa-10056	85	71	.	.	PUNCT
ajfa-10056	86	1	5	5	X
ajfa-10056	86	2	.	.	X
ajfa-10056	86	3	summary	summary	NOUN
ajfa-10056	86	4	statistics	statistic	NOUN
ajfa-10056	86	5	these	these	DET
ajfa-10056	86	6	summary	summary	NOUN
ajfa-10056	86	7	statistics	statistic	NOUN
ajfa-10056	86	8	are	be	AUX
ajfa-10056	86	9	intended	intend	VERB
ajfa-10056	86	10	to	to	PART
ajfa-10056	86	11	provide	provide	VERB
ajfa-10056	86	12	a	a	DET
ajfa-10056	86	13	preliminary	preliminary	ADJ
ajfa-10056	86	14	insight	insight	NOUN
ajfa-10056	86	15	in	in	ADP
ajfa-10056	86	16	to	to	ADP
ajfa-10056	86	17	the	the	DET
ajfa-10056	86	18	nature	nature	NOUN
ajfa-10056	86	19	of	of	ADP
ajfa-10056	86	20	the	the	DET
ajfa-10056	86	21	data	datum	NOUN
ajfa-10056	86	22	that	that	PRON
ajfa-10056	86	23	has	have	AUX
ajfa-10056	86	24	been	be	AUX
ajfa-10056	86	25	considered	consider	VERB
ajfa-10056	86	26	in	in	ADP
ajfa-10056	86	27	this	this	DET
ajfa-10056	86	28	study	study	NOUN
ajfa-10056	86	29	.	.	PUNCT
ajfa-10056	87	1	5.1	5.1	NUM
ajfa-10056	87	2	explanatory	explanatory	ADJ
ajfa-10056	87	3	returns	return	NOUN
ajfa-10056	87	4	(	(	PUNCT
ajfa-10056	87	5	factors)/rhs	factors)/rhs	PROPN
ajfa-10056	87	6	portfolio	portfolio	NOUN
ajfa-10056	87	7	returns	return	NOUN
ajfa-10056	87	8	given	give	VERB
ajfa-10056	87	9	in	in	ADP
ajfa-10056	87	10	table	table	NOUN
ajfa-10056	87	11	1	1	NUM
ajfa-10056	87	12	are	be	AUX
ajfa-10056	87	13	the	the	DET
ajfa-10056	87	14	average	average	ADJ
ajfa-10056	87	15	premiums	premium	NOUN
ajfa-10056	87	16	and	and	CCONJ
ajfa-10056	87	17	their	their	PRON
ajfa-10056	87	18	standard	standard	ADJ
ajfa-10056	87	19	deviations	deviation	NOUN
ajfa-10056	87	20	for	for	ADP
ajfa-10056	87	21	the	the	DET
ajfa-10056	87	22	period	period	NOUN
ajfa-10056	87	23	under	under	ADP
ajfa-10056	87	24	consideration	consideration	NOUN
ajfa-10056	87	25	.	.	PUNCT
ajfa-10056	88	1	t	t	X
ajfa-10056	88	2	-	-	PUNCT
ajfa-10056	88	3	mean	mean	NOUN
ajfa-10056	88	4	is	be	AUX
ajfa-10056	88	5	the	the	DET
ajfa-10056	88	6	ratio	ratio	NOUN
ajfa-10056	88	7	of	of	ADP
ajfa-10056	88	8	the	the	DET
ajfa-10056	88	9	mean	mean	NOUN
ajfa-10056	88	10	to	to	ADP
ajfa-10056	88	11	its	its	PRON
ajfa-10056	88	12	standard	standard	ADJ
ajfa-10056	88	13	error	error	NOUN
ajfa-10056	88	14	.	.	PUNCT
ajfa-10056	89	1	the	the	DET
ajfa-10056	89	2	average	average	ADJ
ajfa-10056	89	3	market	market	NOUN
ajfa-10056	89	4	premium	premium	NOUN
ajfa-10056	89	5	(	(	PUNCT
ajfa-10056	89	6	i.e.	i.e.	X
ajfa-10056	89	7	the	the	DET
ajfa-10056	89	8	average	average	ADJ
ajfa-10056	89	9	difference	difference	NOUN
ajfa-10056	89	10	between	between	ADP
ajfa-10056	89	11	the	the	DET
ajfa-10056	89	12	monthly	monthly	ADJ
ajfa-10056	89	13	market	market	NOUN
ajfa-10056	89	14	return	return	NOUN
ajfa-10056	89	15	and	and	CCONJ
ajfa-10056	89	16	risk	risk	NOUN
ajfa-10056	89	17	-	-	PUNCT
ajfa-10056	89	18	free	free	ADJ
ajfa-10056	89	19	rate	rate	NOUN
ajfa-10056	89	20	)	)	PUNCT
ajfa-10056	89	21	is	be	AUX
ajfa-10056	89	22	1.17	1.17	NUM
ajfa-10056	89	23	%	%	NOUN
ajfa-10056	89	24	(	(	PUNCT
ajfa-10056	89	25	t	t	NOUN
ajfa-10056	89	26	=	=	NUM
ajfa-10056	89	27	2.00	2.00	NUM
ajfa-10056	89	28	)	)	PUNCT
ajfa-10056	89	29	.	.	PUNCT
ajfa-10056	90	1	however	however	ADV
ajfa-10056	90	2	the	the	DET
ajfa-10056	90	3	market	market	NOUN
ajfa-10056	90	4	premium	premium	NOUN
ajfa-10056	90	5	is	be	AUX
ajfa-10056	90	6	highly	highly	ADV
ajfa-10056	90	7	volatile	volatile	ADJ
ajfa-10056	90	8	compared	compare	VERB
ajfa-10056	90	9	to	to	ADP
ajfa-10056	90	10	the	the	DET
ajfa-10056	90	11	other	other	ADJ
ajfa-10056	90	12	factors	factor	NOUN
ajfa-10056	90	13	with	with	ADP
ajfa-10056	90	14	a	a	DET
ajfa-10056	90	15	standard	standard	ADJ
ajfa-10056	90	16	deviation	deviation	NOUN
ajfa-10056	90	17	of	of	ADP
ajfa-10056	90	18	7.58	7.58	NUM
ajfa-10056	90	19	%	%	NOUN
ajfa-10056	90	20	.	.	PUNCT
ajfa-10056	91	1	the	the	DET
ajfa-10056	91	2	average	average	ADJ
ajfa-10056	91	3	size	size	NOUN
ajfa-10056	91	4	premium	premium	NOUN
ajfa-10056	91	5	is	be	AUX
ajfa-10056	91	6	positive	positive	ADJ
ajfa-10056	91	7	when	when	SCONJ
ajfa-10056	91	8	financial	financial	ADJ
ajfa-10056	91	9	firms	firm	NOUN
ajfa-10056	91	10	are	be	AUX
ajfa-10056	91	11	excluded	exclude	VERB
ajfa-10056	91	12	but	but	CCONJ
ajfa-10056	91	13	is	be	AUX
ajfa-10056	91	14	found	find	VERB
ajfa-10056	91	15	to	to	PART
ajfa-10056	91	16	be	be	AUX
ajfa-10056	91	17	negative	negative	ADJ
ajfa-10056	91	18	when	when	SCONJ
ajfa-10056	91	19	all	all	DET
ajfa-10056	91	20	companies	company	NOUN
ajfa-10056	91	21	are	be	AUX
ajfa-10056	91	22	considered	consider	VERB
ajfa-10056	91	23	.	.	PUNCT
ajfa-10056	92	1	it	it	PRON
ajfa-10056	92	2	is	be	AUX
ajfa-10056	92	3	to	to	PART
ajfa-10056	92	4	be	be	AUX
ajfa-10056	92	5	noted	note	VERB
ajfa-10056	92	6	that	that	SCONJ
ajfa-10056	92	7	in	in	ADP
ajfa-10056	92	8	both	both	DET
ajfa-10056	92	9	cases	case	NOUN
ajfa-10056	92	10	the	the	DET
ajfa-10056	92	11	size	size	NOUN
ajfa-10056	92	12	premium	premium	NOUN
ajfa-10056	92	13	is	be	AUX
ajfa-10056	92	14	minute	minute	ADJ
ajfa-10056	92	15	and	and	CCONJ
ajfa-10056	92	16	insignificant	insignificant	ADJ
ajfa-10056	92	17	compared	compare	VERB
ajfa-10056	92	18	to	to	ADP
ajfa-10056	92	19	the	the	DET
ajfa-10056	92	20	equity	equity	NOUN
ajfa-10056	92	21	or	or	CCONJ
ajfa-10056	92	22	value	value	VERB
ajfa-10056	92	23	premium.in	premium.in	PRON
ajfa-10056	92	24	both	both	DET
ajfa-10056	92	25	scenarios	scenario	VERB
ajfa-10056	92	26	the	the	DET
ajfa-10056	92	27	value	value	NOUN
ajfa-10056	92	28	premium	premium	NOUN
ajfa-10056	92	29	is	be	AUX
ajfa-10056	92	30	positive	positive	ADJ
ajfa-10056	92	31	and	and	CCONJ
ajfa-10056	92	32	fairly	fairly	ADV
ajfa-10056	92	33	large	large	ADJ
ajfa-10056	92	34	.	.	PUNCT
ajfa-10056	93	1	however	however	ADV
ajfa-10056	93	2	there	there	PRON
ajfa-10056	93	3	hardly	hardly	ADV
ajfa-10056	93	4	appears	appear	VERB
ajfa-10056	93	5	to	to	PART
ajfa-10056	93	6	be	be	AUX
ajfa-10056	93	7	a	a	DET
ajfa-10056	93	8	momentum	momentum	NOUN
ajfa-10056	93	9	premium	premium	NOUN
ajfa-10056	93	10	present	present	ADJ
ajfa-10056	93	11	,	,	PUNCT
ajfa-10056	93	12	with	with	ADP
ajfa-10056	93	13	the	the	DET
ajfa-10056	93	14	average	average	ADJ
ajfa-10056	93	15	wml	wml	PROPN
ajfa-10056	93	16	factor	factor	NOUN
ajfa-10056	93	17	being	be	AUX
ajfa-10056	93	18	less	less	ADJ
ajfa-10056	93	19	than	than	ADP
ajfa-10056	93	20	0.00	0.00	NUM
ajfa-10056	93	21	(	(	PUNCT
ajfa-10056	93	22	t	t	NOUN
ajfa-10056	93	23	=	=	SYM
ajfa-10056	93	24	-0.01	-0.01	NUM
ajfa-10056	93	25	)	)	PUNCT
ajfa-10056	93	26	when	when	SCONJ
ajfa-10056	93	27	the	the	DET
ajfa-10056	93	28	financial	financial	ADJ
ajfa-10056	93	29	firms	firm	NOUN
ajfa-10056	93	30	are	be	AUX
ajfa-10056	93	31	excluded	exclude	VERB
ajfa-10056	93	32	and	and	CCONJ
ajfa-10056	93	33	0.02	0.02	NUM
ajfa-10056	93	34	(	(	PUNCT
ajfa-10056	93	35	t	t	NOUN
ajfa-10056	93	36	=	=	NUM
ajfa-10056	93	37	0.08	0.08	NUM
ajfa-10056	93	38	)	)	PUNCT
ajfa-10056	93	39	when	when	SCONJ
ajfa-10056	93	40	all	all	DET
ajfa-10056	93	41	companies	company	NOUN
ajfa-10056	93	42	are	be	AUX
ajfa-10056	93	43	considered	consider	VERB
ajfa-10056	93	44	.	.	PUNCT
ajfa-10056	94	1	following	follow	VERB
ajfa-10056	94	2	fama	fama	PROPN
ajfa-10056	94	3	and	and	CCONJ
ajfa-10056	94	4	french	french	ADJ
ajfa-10056	94	5	(	(	PUNCT
ajfa-10056	94	6	2012	2012	NUM
ajfa-10056	94	7	)	)	PUNCT
ajfa-10056	94	8	,	,	PUNCT
ajfa-10056	94	9	table	table	NOUN
ajfa-10056	94	10	1	1	NUM
ajfa-10056	94	11	also	also	ADV
ajfa-10056	94	12	presents	present	VERB
ajfa-10056	94	13	the	the	DET
ajfa-10056	94	14	average	average	ADJ
ajfa-10056	94	15	hml	hml	PROPN
ajfa-10056	94	16	and	and	CCONJ
ajfa-10056	94	17	wml	wml	PROPN
ajfa-10056	94	18	factors	factor	NOUN
ajfa-10056	94	19	and	and	CCONJ
ajfa-10056	94	20	the	the	DET
ajfa-10056	94	21	standard	standard	ADJ
ajfa-10056	94	22	deviation	deviation	NOUN
ajfa-10056	94	23	for	for	ADP
ajfa-10056	94	24	both	both	CCONJ
ajfa-10056	94	25	small	small	ADJ
ajfa-10056	94	26	-	-	PUNCT
ajfa-10056	94	27	cap	cap	NOUN
ajfa-10056	94	28	and	and	CCONJ
ajfa-10056	94	29	big	big	ADJ
ajfa-10056	94	30	-	-	PUNCT
ajfa-10056	94	31	cap	cap	NOUN
ajfa-10056	94	32	stocks	stock	NOUN
ajfa-10056	94	33	.	.	PUNCT
ajfa-10056	95	1	when	when	SCONJ
ajfa-10056	95	2	the	the	DET
ajfa-10056	95	3	financial	financial	ADJ
ajfa-10056	95	4	sector	sector	NOUN
ajfa-10056	95	5	is	be	AUX
ajfa-10056	95	6	excluded	exclude	VERB
ajfa-10056	95	7	the	the	DET
ajfa-10056	95	8	big	big	ADJ
ajfa-10056	95	9	-	-	PUNCT
ajfa-10056	95	10	cap	cap	NOUN
ajfa-10056	95	11	stocks	stock	NOUN
ajfa-10056	95	12	have	have	VERB
ajfa-10056	95	13	a	a	DET
ajfa-10056	95	14	larger	large	ADJ
ajfa-10056	95	15	value	value	NOUN
ajfa-10056	95	16	premium	premium	NOUN
ajfa-10056	95	17	compared	compare	VERB
ajfa-10056	95	18	to	to	ADP
ajfa-10056	95	19	small	small	ADJ
ajfa-10056	95	20	-	-	PUNCT
ajfa-10056	95	21	cap	cap	NOUN
ajfa-10056	95	22	stocks	stock	NOUN
ajfa-10056	95	23	albeit	albeit	SCONJ
ajfa-10056	95	24	not	not	PART
ajfa-10056	95	25	very	very	ADV
ajfa-10056	95	26	much	much	ADV
ajfa-10056	95	27	different	different	ADJ
ajfa-10056	95	28	from	from	ADP
ajfa-10056	95	29	the	the	DET
ajfa-10056	95	30	small	small	ADJ
ajfa-10056	95	31	-	-	PUNCT
ajfa-10056	95	32	cap	cap	NOUN
ajfa-10056	95	33	stocks	stock	NOUN
ajfa-10056	95	34	.	.	PUNCT
ajfa-10056	96	1	the	the	DET
ajfa-10056	96	2	momentum	momentum	NOUN
ajfa-10056	96	3	premium	premium	NOUN
ajfa-10056	96	4	is	be	AUX
ajfa-10056	96	5	seen	see	VERB
ajfa-10056	96	6	only	only	ADV
ajfa-10056	96	7	with	with	ADP
ajfa-10056	96	8	big	big	ADJ
ajfa-10056	96	9	-	-	PUNCT
ajfa-10056	96	10	cap	cap	NOUN
ajfa-10056	96	11	stocks	stock	NOUN
ajfa-10056	96	12	and	and	CCONJ
ajfa-10056	96	13	it	it	PRON
ajfa-10056	96	14	is	be	AUX
ajfa-10056	96	15	negative	negative	ADJ
ajfa-10056	96	16	for	for	ADP
ajfa-10056	96	17	small	small	ADJ
ajfa-10056	96	18	-	-	PUNCT
ajfa-10056	96	19	cap	cap	NOUN
ajfa-10056	96	20	stocks	stock	NOUN
ajfa-10056	96	21	.	.	PUNCT
ajfa-10056	97	1	when	when	SCONJ
ajfa-10056	97	2	all	all	DET
ajfa-10056	97	3	the	the	DET
ajfa-10056	97	4	sectors	sector	NOUN
ajfa-10056	97	5	of	of	ADP
ajfa-10056	97	6	the	the	DET
ajfa-10056	97	7	cse	cse	NOUN
ajfa-10056	97	8	are	be	AUX
ajfa-10056	97	9	considered	consider	VERB
ajfa-10056	97	10	still	still	ADV
ajfa-10056	97	11	the	the	DET
ajfa-10056	97	12	value	value	NOUN
ajfa-10056	97	13	premiums	premium	NOUN
ajfa-10056	97	14	are	be	AUX
ajfa-10056	97	15	larger	large	ADJ
ajfa-10056	97	16	for	for	ADP
ajfa-10056	97	17	big	big	ADJ
ajfa-10056	97	18	-	-	PUNCT
ajfa-10056	97	19	cap	cap	NOUN
ajfa-10056	97	20	stocks	stock	NOUN
ajfa-10056	97	21	.	.	PUNCT
ajfa-10056	98	1	again	again	ADV
ajfa-10056	98	2	the	the	DET
ajfa-10056	98	3	momentum	momentum	NOUN
ajfa-10056	98	4	premium	premium	NOUN
ajfa-10056	98	5	is	be	AUX
ajfa-10056	98	6	seen	see	VERB
ajfa-10056	98	7	only	only	ADV
ajfa-10056	98	8	in	in	ADP
ajfa-10056	98	9	the	the	DET
ajfa-10056	98	10	big	big	ADJ
ajfa-10056	98	11	-	-	PUNCT
ajfa-10056	98	12	cap	cap	NOUN
ajfa-10056	98	13	stocks	stock	NOUN
ajfa-10056	98	14	and	and	CCONJ
ajfa-10056	98	15	is	be	AUX
ajfa-10056	98	16	negative	negative	ADJ
ajfa-10056	98	17	for	for	ADP
ajfa-10056	98	18	the	the	DET
ajfa-10056	98	19	small	small	ADJ
ajfa-10056	98	20	-	-	PUNCT
ajfa-10056	98	21	cap	cap	NOUN
ajfa-10056	98	22	stocks	stock	NOUN
ajfa-10056	98	23	.	.	PUNCT
ajfa-10056	99	1	table	table	NOUN
ajfa-10056	99	2	1	1	NUM
ajfa-10056	99	3	.	.	PUNCT
ajfa-10056	100	1	summary	summary	NOUN
ajfa-10056	100	2	statistics	statistic	NOUN
ajfa-10056	100	3	for	for	ADP
ajfa-10056	100	4	explanatory	explanatory	ADJ
ajfa-10056	100	5	variables	variable	NOUN
ajfa-10056	100	6	rm	rm	PROPN
ajfa-10056	100	7	-	-	PUNCT
ajfa-10056	100	8	rf	rf	PROPN
ajfa-10056	100	9	smb	smb	PROPN
ajfa-10056	100	10	hml	hml	PROPN
ajfa-10056	100	11	hmls	hmls	PROPN
ajfa-10056	100	12	hmlb	hmlb	PROPN
ajfa-10056	100	13	hmls	hmls	PROPN
ajfa-10056	100	14	-	-	PUNCT
ajfa-10056	100	15	b	b	PROPN
ajfa-10056	100	16	wml	wml	PROPN
ajfa-10056	100	17	wmls	wmls	PROPN
ajfa-10056	100	18	wmlb	wmlb	PROPN
ajfa-10056	100	19	wmls	wmls	PROPN
ajfa-10056	100	20	-	-	PUNCT
ajfa-10056	100	21	b	b	NOUN
ajfa-10056	100	22	excludingfinance	excludingfinance	NOUN
ajfa-10056	100	23	mean	mean	NOUN
ajfa-10056	100	24	1.17	1.17	NUM
ajfa-10056	101	1	0.09	0.09	NUM
ajfa-10056	101	2	0.54	0.54	NUM
ajfa-10056	101	3	0.52	0.52	NUM
ajfa-10056	101	4	0.57	0.57	NUM
ajfa-10056	101	5	-0.06	-0.06	NUM
ajfa-10056	101	6	0.00	0.00	NUM
ajfa-10056	101	7	-0.22	-0.22	NUM
ajfa-10056	101	8	0.21	0.21	NUM
ajfa-10056	101	9	-0.43	-0.43	NUM
ajfa-10056	101	10	standar	standar	NOUN
ajfa-10056	101	11	7.58	7.58	NUM
ajfa-10056	101	12	2.93	2.93	NUM
ajfa-10056	101	13	3.55	3.55	NUM
ajfa-10056	101	14	4.79	4.79	NUM
ajfa-10056	101	15	4.67	4.67	NUM
ajfa-10056	101	16	6.25	6.25	NUM
ajfa-10056	101	17	4.17	4.17	NUM
ajfa-10056	101	18	5.28	5.28	NUM
ajfa-10056	101	19	4.89	4.89	NUM
ajfa-10056	101	20	5.84	5.84	NUM
ajfa-10056	101	21	t	t	NOUN
ajfa-10056	101	22	-	-	PUNCT
ajfa-10056	101	23	mean	mean	NOUN
ajfa-10056	101	24	2.00	2.00	NUM
ajfa-10056	101	25	0.42	0.42	NUM
ajfa-10056	101	26	1.99	1.99	NUM
ajfa-10056	101	27	1.40	1.40	NUM
ajfa-10056	101	28	1.59	1.59	NUM
ajfa-10056	101	29	-0.12	-0.12	NUM
ajfa-10056	101	30	-0.01	-0.01	NUM
ajfa-10056	101	31	-0.54	-0.54	NOUN
ajfa-10056	101	32	0.57	0.57	NUM
ajfa-10056	101	33	-0.96	-0.96	NUM
ajfa-10056	101	34	all	all	DET
ajfa-10056	101	35	companies	company	NOUN
ajfa-10056	101	36	mean	mean	VERB
ajfa-10056	101	37	1.17	1.17	NUM
ajfa-10056	101	38	-0.12	-0.12	NUM
ajfa-10056	101	39	0.70	0.70	NUM
ajfa-10056	101	40	0.67	0.67	NUM
ajfa-10056	101	41	0.74	0.74	NUM
ajfa-10056	101	42	-0.07	-0.07	NUM
ajfa-10056	101	43	0.02	0.02	NUM
ajfa-10056	101	44	-0.14	-0.14	NUM
ajfa-10056	101	45	0.19	0.19	NUM
ajfa-10056	101	46	-0.34	-0.34	PROPN
ajfa-10056	101	47	standar	standar	NOUN
ajfa-10056	101	48	7.58	7.58	NUM
ajfa-10056	101	49	2.90	2.90	NUM
ajfa-10056	101	50	3.42	3.42	NUM
ajfa-10056	101	51	4.92	4.92	NUM
ajfa-10056	101	52	4.37	4.37	NUM
ajfa-10056	101	53	6.32	6.32	NUM
ajfa-10056	101	54	3.90	3.90	NUM
ajfa-10056	101	55	4.90	4.90	NUM
ajfa-10056	101	56	4.52	4.52	NUM
ajfa-10056	101	57	5.29	5.29	NUM
ajfa-10056	101	58	t	t	NOUN
ajfa-10056	101	59	-	-	PUNCT
ajfa-10056	101	60	mean	mean	NOUN
ajfa-10056	101	61	2.00	2.00	NUM
ajfa-10056	101	62	-0.53	-0.53	NOUN
ajfa-10056	101	63	2.67	2.67	NUM
ajfa-10056	101	64	1.75	1.75	NUM
ajfa-10056	101	65	2.20	2.20	NUM
ajfa-10056	101	66	-0.15	-0.15	NUM
ajfa-10056	101	67	0.08	0.08	NUM
ajfa-10056	101	68	-0.38	-0.38	NUM
ajfa-10056	101	69	0.55	0.55	NUM
ajfa-10056	101	70	-0.82	-0.82	NUM
ajfa-10056	101	71	the	the	DET
ajfa-10056	101	72	section	section	NOUN
ajfa-10056	101	73	on	on	ADP
ajfa-10056	101	74	excluding	exclude	VERB
ajfa-10056	101	75	finance	finance	NOUN
ajfa-10056	101	76	is	be	AUX
ajfa-10056	101	77	extracted	extract	VERB
ajfa-10056	101	78	from	from	ADP
ajfa-10056	101	79	abeysekera	abeysekera	NOUN
ajfa-10056	101	80	and	and	CCONJ
ajfa-10056	101	81	nimal	nimal	PROPN
ajfa-10056	101	82	(	(	PUNCT
ajfa-10056	101	83	2016	2016	NUM
ajfa-10056	101	84	)	)	PUNCT
ajfa-10056	101	85	for	for	ADP
ajfa-10056	101	86	comparison	comparison	NOUN
ajfa-10056	101	87	asian	asian	PROPN
ajfa-10056	101	88	journal	journal	PROPN
ajfa-10056	101	89	of	of	ADP
ajfa-10056	101	90	finance	finance	PROPN
ajfa-10056	101	91	&	&	CCONJ
ajfa-10056	101	92	accounting	accounting	PROPN
ajfa-10056	101	93	issn	issn	PROPN
ajfa-10056	101	94	1946	1946	NUM
ajfa-10056	101	95	-	-	PUNCT
ajfa-10056	101	96	052x	052x	PROPN
ajfa-10056	101	97	2016	2016	NUM
ajfa-10056	101	98	,	,	PUNCT
ajfa-10056	101	99	vol	vol	NOUN
ajfa-10056	101	100	.	.	PROPN
ajfa-10056	101	101	8	8	NUM
ajfa-10056	101	102	,	,	PUNCT
ajfa-10056	101	103	no	no	INTJ
ajfa-10056	101	104	.	.	NOUN
ajfa-10056	101	105	2	2	NUM
ajfa-10056	101	106	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	101	107	119	119	NUM
ajfa-10056	101	108	purpose.portfolios	purpose.portfolio	NOUN
ajfa-10056	101	109	are	be	AUX
ajfa-10056	101	110	formed	form	VERB
ajfa-10056	101	111	at	at	ADP
ajfa-10056	101	112	the	the	DET
ajfa-10056	101	113	end	end	NOUN
ajfa-10056	101	114	of	of	ADP
ajfa-10056	101	115	september	september	PROPN
ajfa-10056	101	116	each	each	DET
ajfa-10056	101	117	year	year	NOUN
ajfa-10056	101	118	t	t	NOUN
ajfa-10056	101	119	by	by	ADP
ajfa-10056	101	120	sorting	sort	VERB
ajfa-10056	101	121	stocks	stock	NOUN
ajfa-10056	101	122	into	into	ADP
ajfa-10056	101	123	two	two	NUM
ajfa-10056	101	124	market	market	NOUN
ajfa-10056	101	125	-	-	PUNCT
ajfa-10056	101	126	cap	cap	NOUN
ajfa-10056	101	127	and	and	CCONJ
ajfa-10056	101	128	three	three	NUM
ajfa-10056	101	129	b	b	NOUN
ajfa-10056	101	130	/	/	SYM
ajfa-10056	101	131	m	m	NOUN
ajfa-10056	101	132	groups	group	NOUN
ajfa-10056	101	133	.	.	PUNCT
ajfa-10056	102	1	big	big	ADJ
ajfa-10056	102	2	-	-	PUNCT
ajfa-10056	102	3	cap	cap	NOUN
ajfa-10056	102	4	stocks	stock	NOUN
ajfa-10056	102	5	are	be	AUX
ajfa-10056	102	6	those	those	DET
ajfa-10056	102	7	stocks	stock	NOUN
ajfa-10056	102	8	above	above	ADP
ajfa-10056	102	9	the	the	DET
ajfa-10056	102	10	median	median	ADJ
ajfa-10056	102	11	market	market	NOUN
ajfa-10056	102	12	-	-	PUNCT
ajfa-10056	102	13	cap	cap	NOUN
ajfa-10056	102	14	and	and	CCONJ
ajfa-10056	102	15	small	small	ADJ
ajfa-10056	102	16	-	-	PUNCT
ajfa-10056	102	17	cap	cap	NOUN
ajfa-10056	102	18	stocks	stock	NOUN
ajfa-10056	102	19	are	be	AUX
ajfa-10056	102	20	those	those	PRON
ajfa-10056	102	21	below	below	ADP
ajfa-10056	102	22	the	the	DET
ajfa-10056	102	23	median	median	ADJ
ajfa-10056	102	24	market	market	NOUN
ajfa-10056	102	25	cap	cap	NOUN
ajfa-10056	102	26	.	.	PUNCT
ajfa-10056	103	1	the	the	DET
ajfa-10056	103	2	b	b	PROPN
ajfa-10056	103	3	/	/	SYM
ajfa-10056	103	4	m	m	NOUN
ajfa-10056	103	5	breakpoints	breakpoint	NOUN
ajfa-10056	103	6	are	be	AUX
ajfa-10056	103	7	the	the	DET
ajfa-10056	103	8	30th	30th	ADJ
ajfa-10056	103	9	and	and	CCONJ
ajfa-10056	103	10	70th	70th	ADJ
ajfa-10056	103	11	percentiles	percentile	NOUN
ajfa-10056	103	12	of	of	ADP
ajfa-10056	103	13	b	b	NOUN
ajfa-10056	103	14	/	/	SYM
ajfa-10056	103	15	m.	m.	NOUN
ajfa-10056	103	16	the	the	DET
ajfa-10056	103	17	independent	independent	ADJ
ajfa-10056	103	18	2×3	2×3	NOUN
ajfa-10056	103	19	sorts	sort	NOUN
ajfa-10056	103	20	on	on	ADP
ajfa-10056	103	21	size	size	NOUN
ajfa-10056	103	22	and	and	CCONJ
ajfa-10056	103	23	b	b	X
ajfa-10056	103	24	/	/	SYM
ajfa-10056	103	25	m	m	VERB
ajfa-10056	103	26	produce	produce	VERB
ajfa-10056	103	27	six	six	NUM
ajfa-10056	103	28	portfolios	portfolio	NOUN
ajfa-10056	103	29	,	,	PUNCT
ajfa-10056	103	30	sg	sg	PROPN
ajfa-10056	103	31	,	,	PUNCT
ajfa-10056	103	32	sn	sn	PROPN
ajfa-10056	103	33	,	,	PUNCT
ajfa-10056	103	34	sv	sv	PROPN
ajfa-10056	103	35	,	,	PUNCT
ajfa-10056	103	36	bg	bg	PROPN
ajfa-10056	103	37	,	,	PUNCT
ajfa-10056	103	38	bn	bn	NOUN
ajfa-10056	103	39	,	,	PUNCT
ajfa-10056	103	40	and	and	CCONJ
ajfa-10056	103	41	bv	bv	PROPN
ajfa-10056	103	42	,	,	PUNCT
ajfa-10056	103	43	where	where	SCONJ
ajfa-10056	103	44	s	s	NOUN
ajfa-10056	103	45	and	and	CCONJ
ajfa-10056	103	46	b	b	PROPN
ajfa-10056	103	47	indicate	indicate	VERB
ajfa-10056	103	48	small	small	ADJ
ajfa-10056	103	49	and	and	CCONJ
ajfa-10056	103	50	big	big	ADJ
ajfa-10056	103	51	and	and	CCONJ
ajfa-10056	103	52	g	g	NOUN
ajfa-10056	103	53	,	,	PUNCT
ajfa-10056	103	54	n	n	CCONJ
ajfa-10056	103	55	,	,	PUNCT
ajfa-10056	103	56	and	and	CCONJ
ajfa-10056	103	57	v	v	NOUN
ajfa-10056	103	58	indicate	indicate	VERB
ajfa-10056	103	59	growth	growth	NOUN
ajfa-10056	103	60	,	,	PUNCT
ajfa-10056	103	61	neutral	neutral	ADJ
ajfa-10056	103	62	,	,	PUNCT
ajfa-10056	103	63	and	and	CCONJ
ajfa-10056	103	64	value	value	NOUN
ajfa-10056	103	65	(	(	PUNCT
ajfa-10056	103	66	bottom	bottom	ADJ
ajfa-10056	103	67	30	30	NUM
ajfa-10056	103	68	%	%	NOUN
ajfa-10056	103	69	,	,	PUNCT
ajfa-10056	103	70	middle	middle	ADJ
ajfa-10056	103	71	40	40	NUM
ajfa-10056	103	72	%	%	NOUN
ajfa-10056	103	73	,	,	PUNCT
ajfa-10056	103	74	and	and	CCONJ
ajfa-10056	103	75	top	top	ADJ
ajfa-10056	103	76	30	30	NUM
ajfa-10056	103	77	%	%	NOUN
ajfa-10056	103	78	of	of	ADP
ajfa-10056	103	79	b	b	PROPN
ajfa-10056	103	80	/	/	SYM
ajfa-10056	103	81	m	m	NOUN
ajfa-10056	103	82	)	)	PUNCT
ajfa-10056	103	83	respectively	respectively	ADV
ajfa-10056	103	84	.	.	PUNCT
ajfa-10056	104	1	monthly	monthly	ADJ
ajfa-10056	104	2	returns	return	NOUN
ajfa-10056	104	3	on	on	ADP
ajfa-10056	104	4	the	the	DET
ajfa-10056	104	5	portfolios	portfolio	NOUN
ajfa-10056	104	6	are	be	AUX
ajfa-10056	104	7	calculated	calculate	VERB
ajfa-10056	104	8	from	from	ADP
ajfa-10056	104	9	october	october	PROPN
ajfa-10056	104	10	to	to	ADP
ajfa-10056	104	11	the	the	DET
ajfa-10056	104	12	following	follow	VERB
ajfa-10056	104	13	september.smb	september.smb	PROPN
ajfa-10056	104	14	is	be	AUX
ajfa-10056	104	15	the	the	DET
ajfa-10056	104	16	equal	equal	ADJ
ajfa-10056	104	17	-	-	PUNCT
ajfa-10056	104	18	weight	weight	NOUN
ajfa-10056	104	19	average	average	NOUN
ajfa-10056	104	20	of	of	ADP
ajfa-10056	104	21	the	the	DET
ajfa-10056	104	22	returns	return	NOUN
ajfa-10056	104	23	on	on	ADP
ajfa-10056	104	24	the	the	DET
ajfa-10056	104	25	three	three	NUM
ajfa-10056	104	26	small	small	ADJ
ajfa-10056	104	27	-	-	PUNCT
ajfa-10056	104	28	cap	cap	NOUN
ajfa-10056	104	29	stock	stock	NOUN
ajfa-10056	104	30	portfolios	portfolio	NOUN
ajfa-10056	104	31	minus	minus	ADP
ajfa-10056	104	32	the	the	DET
ajfa-10056	104	33	average	average	NOUN
ajfa-10056	104	34	of	of	ADP
ajfa-10056	104	35	the	the	DET
ajfa-10056	104	36	returns	return	NOUN
ajfa-10056	104	37	on	on	ADP
ajfa-10056	104	38	the	the	DET
ajfa-10056	104	39	three	three	NUM
ajfa-10056	104	40	big	big	ADJ
ajfa-10056	104	41	-	-	PUNCT
ajfa-10056	104	42	cap	cap	NOUN
ajfa-10056	104	43	stock	stock	NOUN
ajfa-10056	104	44	portfolios	portfolio	NOUN
ajfa-10056	104	45	.	.	PUNCT
ajfa-10056	105	1	the	the	DET
ajfa-10056	105	2	2×3	2×3	NOUN
ajfa-10056	105	3	sorts	sort	NOUN
ajfa-10056	105	4	on	on	ADP
ajfa-10056	105	5	size	size	NOUN
ajfa-10056	105	6	and	and	CCONJ
ajfa-10056	105	7	lagged	lag	VERB
ajfa-10056	105	8	momentum	momentum	NOUN
ajfa-10056	105	9	are	be	AUX
ajfa-10056	105	10	similar	similar	ADJ
ajfa-10056	105	11	,	,	PUNCT
ajfa-10056	105	12	but	but	CCONJ
ajfa-10056	105	13	the	the	DET
ajfa-10056	105	14	size	size	NOUN
ajfa-10056	105	15	-	-	PUNCT
ajfa-10056	105	16	momentum	momentum	NOUN
ajfa-10056	105	17	portfolios	portfolio	NOUN
ajfa-10056	105	18	are	be	AUX
ajfa-10056	105	19	formed	form	VERB
ajfa-10056	105	20	monthly	monthly	ADV
ajfa-10056	105	21	.	.	PUNCT
ajfa-10056	106	1	for	for	ADP
ajfa-10056	106	2	portfolios	portfolio	NOUN
ajfa-10056	106	3	formed	form	VERB
ajfa-10056	106	4	at	at	ADP
ajfa-10056	106	5	the	the	DET
ajfa-10056	106	6	end	end	NOUN
ajfa-10056	106	7	of	of	ADP
ajfa-10056	106	8	month	month	NOUN
ajfa-10056	106	9	t	t	PROPN
ajfa-10056	106	10	,	,	PUNCT
ajfa-10056	106	11	the	the	DET
ajfa-10056	106	12	lagged	lag	VERB
ajfa-10056	106	13	momentum	momentum	NOUN
ajfa-10056	106	14	return	return	NOUN
ajfa-10056	106	15	is	be	AUX
ajfa-10056	106	16	a	a	DET
ajfa-10056	106	17	stock	stock	NOUN
ajfa-10056	106	18	’s	’s	PART
ajfa-10056	106	19	cumulative	cumulative	ADJ
ajfa-10056	106	20	return	return	NOUN
ajfa-10056	106	21	for	for	ADP
ajfa-10056	106	22	t-11	t-11	PRON
ajfa-10056	106	23	to	to	ADP
ajfa-10056	106	24	t-1	t-1	PROPN
ajfa-10056	106	25	.	.	PUNCT
ajfa-10056	107	1	the	the	DET
ajfa-10056	107	2	independent	independent	ADJ
ajfa-10056	107	3	2×3	2×3	NOUN
ajfa-10056	107	4	sorts	sort	NOUN
ajfa-10056	107	5	on	on	ADP
ajfa-10056	107	6	size	size	NOUN
ajfa-10056	107	7	and	and	CCONJ
ajfa-10056	107	8	momentum	momentum	NOUN
ajfa-10056	107	9	produce	produce	VERB
ajfa-10056	107	10	six	six	NUM
ajfa-10056	107	11	portfolios	portfolio	NOUN
ajfa-10056	107	12	,	,	PUNCT
ajfa-10056	107	13	sl	sl	INTJ
ajfa-10056	107	14	,	,	PUNCT
ajfa-10056	107	15	sn	sn	PROPN
ajfa-10056	107	16	,	,	PUNCT
ajfa-10056	107	17	sw	sw	PROPN
ajfa-10056	107	18	,	,	PUNCT
ajfa-10056	107	19	bl	bl	PROPN
ajfa-10056	107	20	,	,	PUNCT
ajfa-10056	107	21	bn	bn	ADV
ajfa-10056	107	22	,	,	PUNCT
ajfa-10056	107	23	and	and	CCONJ
ajfa-10056	107	24	bw	bw	NOUN
ajfa-10056	107	25	,	,	PUNCT
ajfa-10056	107	26	where	where	SCONJ
ajfa-10056	107	27	s	s	NOUN
ajfa-10056	107	28	and	and	CCONJ
ajfa-10056	107	29	b	b	PROPN
ajfa-10056	107	30	indicate	indicate	VERB
ajfa-10056	107	31	small	small	ADJ
ajfa-10056	107	32	and	and	CCONJ
ajfa-10056	107	33	big	big	ADJ
ajfa-10056	107	34	and	and	CCONJ
ajfa-10056	107	35	l	l	NOUN
ajfa-10056	107	36	,	,	PUNCT
ajfa-10056	107	37	n	n	CCONJ
ajfa-10056	107	38	,	,	PUNCT
ajfa-10056	107	39	and	and	CCONJ
ajfa-10056	107	40	w	w	PROPN
ajfa-10056	107	41	indicate	indicate	VERB
ajfa-10056	107	42	losers	loser	NOUN
ajfa-10056	107	43	,	,	PUNCT
ajfa-10056	107	44	neutral	neutral	ADJ
ajfa-10056	107	45	,	,	PUNCT
ajfa-10056	107	46	and	and	CCONJ
ajfa-10056	107	47	winners	winner	NOUN
ajfa-10056	107	48	(	(	PUNCT
ajfa-10056	107	49	bottom	bottom	ADJ
ajfa-10056	107	50	30	30	NUM
ajfa-10056	107	51	%	%	NOUN
ajfa-10056	107	52	,	,	PUNCT
ajfa-10056	107	53	middle	middle	ADJ
ajfa-10056	107	54	40	40	NUM
ajfa-10056	107	55	%	%	NOUN
ajfa-10056	107	56	,	,	PUNCT
ajfa-10056	107	57	and	and	CCONJ
ajfa-10056	107	58	top	top	ADJ
ajfa-10056	107	59	30	30	NUM
ajfa-10056	107	60	%	%	NOUN
ajfa-10056	107	61	of	of	ADP
ajfa-10056	107	62	lagged	lag	VERB
ajfa-10056	107	63	momentum	momentum	NOUN
ajfa-10056	107	64	)	)	PUNCT
ajfa-10056	107	65	respectively	respectively	ADV
ajfa-10056	107	66	.	.	PUNCT
ajfa-10056	108	1	all	all	DET
ajfa-10056	108	2	returns	return	NOUN
ajfa-10056	108	3	are	be	AUX
ajfa-10056	108	4	in	in	ADP
ajfa-10056	108	5	lkr	lkr	PROPN
ajfa-10056	108	6	.	.	PUNCT
ajfa-10056	109	1	rm	rm	NOUN
ajfa-10056	109	2	-	-	PUNCT
ajfa-10056	109	3	rf	rf	PROPN
ajfa-10056	109	4	is	be	AUX
ajfa-10056	109	5	the	the	DET
ajfa-10056	109	6	return	return	NOUN
ajfa-10056	109	7	calculated	calculate	VERB
ajfa-10056	109	8	from	from	ADP
ajfa-10056	109	9	the	the	DET
ajfa-10056	109	10	total	total	ADJ
ajfa-10056	109	11	return	return	NOUN
ajfa-10056	109	12	index	index	NOUN
ajfa-10056	109	13	(	(	PUNCT
ajfa-10056	109	14	tri	tri	NOUN
ajfa-10056	109	15	)	)	PUNCT
ajfa-10056	109	16	minus	minus	CCONJ
ajfa-10056	109	17	the	the	DET
ajfa-10056	109	18	one	one	NUM
ajfa-10056	109	19	-	-	PUNCT
ajfa-10056	109	20	month	month	NOUN
ajfa-10056	109	21	t	t	PROPN
ajfa-10056	109	22	-	-	PUNCT
ajfa-10056	109	23	bill	bill	NOUN
ajfa-10056	109	24	rate	rate	NOUN
ajfa-10056	109	25	(	(	PUNCT
ajfa-10056	109	26	derived	derive	VERB
ajfa-10056	109	27	from	from	ADP
ajfa-10056	109	28	the	the	DET
ajfa-10056	109	29	91	91	NUM
ajfa-10056	109	30	-	-	PUNCT
ajfa-10056	109	31	day	day	NOUN
ajfa-10056	109	32	treasury	treasury	NOUN
ajfa-10056	109	33	bill	bill	NOUN
ajfa-10056	109	34	rate	rate	NOUN
ajfa-10056	109	35	)	)	PUNCT
ajfa-10056	109	36	.	.	PUNCT
ajfa-10056	110	1	size	size	NOUN
ajfa-10056	110	2	is	be	AUX
ajfa-10056	110	3	the	the	DET
ajfa-10056	110	4	market	market	NOUN
ajfa-10056	110	5	capitalization	capitalization	NOUN
ajfa-10056	110	6	at	at	ADP
ajfa-10056	110	7	the	the	DET
ajfa-10056	110	8	end	end	NOUN
ajfa-10056	110	9	of	of	ADP
ajfa-10056	110	10	september	september	PROPN
ajfa-10056	110	11	of	of	ADP
ajfa-10056	110	12	each	each	DET
ajfa-10056	110	13	year	year	NOUN
ajfa-10056	110	14	t.	t.	PROPN
ajfa-10056	110	15	the	the	DET
ajfa-10056	110	16	book	book	NOUN
ajfa-10056	110	17	equity	equity	NOUN
ajfa-10056	110	18	is	be	AUX
ajfa-10056	110	19	calculated	calculate	VERB
ajfa-10056	110	20	as	as	ADP
ajfa-10056	110	21	the	the	DET
ajfa-10056	110	22	difference	difference	NOUN
ajfa-10056	110	23	between	between	ADP
ajfa-10056	110	24	total	total	ADJ
ajfa-10056	110	25	assets	asset	NOUN
ajfa-10056	110	26	and	and	CCONJ
ajfa-10056	110	27	total	total	ADJ
ajfa-10056	110	28	liabilities	liability	NOUN
ajfa-10056	110	29	.	.	PUNCT
ajfa-10056	111	1	negative	negative	ADJ
ajfa-10056	111	2	book	book	NOUN
ajfa-10056	111	3	equity	equity	NOUN
ajfa-10056	111	4	firms	firm	NOUN
ajfa-10056	111	5	are	be	AUX
ajfa-10056	111	6	excluded	exclude	VERB
ajfa-10056	111	7	.	.	PUNCT
ajfa-10056	112	1	the	the	DET
ajfa-10056	112	2	b	b	PROPN
ajfa-10056	112	3	/	/	SYM
ajfa-10056	112	4	m	m	PROPN
ajfa-10056	112	5	ratio	ratio	NOUN
ajfa-10056	112	6	used	use	VERB
ajfa-10056	112	7	to	to	PART
ajfa-10056	112	8	form	form	VERB
ajfa-10056	112	9	portfolios	portfolio	NOUN
ajfa-10056	112	10	in	in	ADP
ajfa-10056	112	11	september	september	PROPN
ajfa-10056	112	12	of	of	ADP
ajfa-10056	112	13	year	year	NOUN
ajfa-10056	112	14	t	t	PROPN
ajfa-10056	112	15	is	be	AUX
ajfa-10056	112	16	the	the	DET
ajfa-10056	112	17	book	book	NOUN
ajfa-10056	112	18	common	common	ADJ
ajfa-10056	112	19	equity	equity	NOUN
ajfa-10056	112	20	for	for	ADP
ajfa-10056	112	21	the	the	DET
ajfa-10056	112	22	fiscal	fiscal	ADJ
ajfa-10056	112	23	year	year	NOUN
ajfa-10056	112	24	ending	end	VERB
ajfa-10056	112	25	in	in	ADP
ajfa-10056	112	26	march	march	PROPN
ajfa-10056	112	27	(	(	PUNCT
ajfa-10056	112	28	december	december	PROPN
ajfa-10056	112	29	)	)	PUNCT
ajfa-10056	112	30	of	of	ADP
ajfa-10056	112	31	year	year	NOUN
ajfa-10056	112	32	t	t	PROPN
ajfa-10056	112	33	(	(	PUNCT
ajfa-10056	112	34	t-1	t-1	PROPN
ajfa-10056	112	35	)	)	PUNCT
ajfa-10056	112	36	divided	divide	VERB
ajfa-10056	112	37	by	by	ADP
ajfa-10056	112	38	the	the	DET
ajfa-10056	112	39	market	market	NOUN
ajfa-10056	112	40	equity	equity	NOUN
ajfa-10056	112	41	on	on	ADP
ajfa-10056	112	42	the	the	DET
ajfa-10056	112	43	same	same	ADJ
ajfa-10056	112	44	day	day	NOUN
ajfa-10056	112	45	.	.	PUNCT
ajfa-10056	113	1	the	the	DET
ajfa-10056	113	2	t	t	PROPN
ajfa-10056	113	3	-	-	PUNCT
ajfa-10056	113	4	mean	mean	NOUN
ajfa-10056	113	5	is	be	AUX
ajfa-10056	113	6	the	the	DET
ajfa-10056	113	7	ratio	ratio	NOUN
ajfa-10056	113	8	of	of	ADP
ajfa-10056	113	9	the	the	DET
ajfa-10056	113	10	mean	mean	NOUN
ajfa-10056	113	11	to	to	ADP
ajfa-10056	113	12	its	its	PRON
ajfa-10056	113	13	standard	standard	ADJ
ajfa-10056	113	14	error	error	NOUN
ajfa-10056	113	15	.	.	PUNCT
ajfa-10056	114	1	value	value	NOUN
ajfa-10056	114	2	-	-	PUNCT
ajfa-10056	114	3	growth	growth	NOUN
ajfa-10056	114	4	returns	return	NOUN
ajfa-10056	114	5	for	for	ADP
ajfa-10056	114	6	small	small	ADJ
ajfa-10056	114	7	-	-	PUNCT
ajfa-10056	114	8	cap	cap	NOUN
ajfa-10056	114	9	and	and	CCONJ
ajfa-10056	114	10	big	big	ADJ
ajfa-10056	114	11	-	-	PUNCT
ajfa-10056	114	12	cap	cap	NOUN
ajfa-10056	114	13	stocks	stock	NOUN
ajfa-10056	114	14	as	as	ADV
ajfa-10056	114	15	well	well	ADV
ajfa-10056	114	16	as	as	ADP
ajfa-10056	114	17	winner	winner	NOUN
ajfa-10056	114	18	-	-	PUNCT
ajfa-10056	114	19	loser	loser	NOUN
ajfa-10056	114	20	returns	return	NOUN
ajfa-10056	114	21	for	for	ADP
ajfa-10056	114	22	small	small	ADJ
ajfa-10056	114	23	-	-	PUNCT
ajfa-10056	114	24	cap	cap	NOUN
ajfa-10056	114	25	and	and	CCONJ
ajfa-10056	114	26	big	big	ADJ
ajfa-10056	114	27	-	-	PUNCT
ajfa-10056	114	28	cap	cap	NOUN
ajfa-10056	114	29	stocks	stock	NOUN
ajfa-10056	114	30	are	be	AUX
ajfa-10056	114	31	presented	present	VERB
ajfa-10056	114	32	.	.	PUNCT
ajfa-10056	115	1	hmls	hmls	PROPN
ajfa-10056	115	2	=	=	PUNCT
ajfa-10056	115	3	sv	sv	PROPN
ajfa-10056	115	4	-	-	PUNCT
ajfa-10056	115	5	sg	sg	PROPN
ajfa-10056	115	6	and	and	CCONJ
ajfa-10056	115	7	hmlb	hmlb	PROPN
ajfa-10056	115	8	=	=	SYM
ajfa-10056	115	9	bv	bv	PROPN
ajfa-10056	115	10	-	-	PROPN
ajfa-10056	115	11	bg	bg	PROPN
ajfa-10056	115	12	,	,	PUNCT
ajfa-10056	115	13	and	and	CCONJ
ajfa-10056	115	14	hml	hml	PROPN
ajfa-10056	115	15	is	be	AUX
ajfa-10056	115	16	the	the	DET
ajfa-10056	115	17	equal	equal	ADJ
ajfa-10056	115	18	-	-	PUNCT
ajfa-10056	115	19	weight	weight	NOUN
ajfa-10056	115	20	average	average	NOUN
ajfa-10056	115	21	of	of	ADP
ajfa-10056	115	22	hmls	hmls	NOUN
ajfa-10056	115	23	and	and	CCONJ
ajfa-10056	115	24	hmlb	hmlb	NOUN
ajfa-10056	115	25	.	.	PUNCT
ajfa-10056	116	1	wmls	wmls	NOUN
ajfa-10056	116	2	=	=	PUNCT
ajfa-10056	116	3	sw	sw	PROPN
ajfa-10056	116	4	-	-	PUNCT
ajfa-10056	116	5	sl	sl	PROPN
ajfa-10056	116	6	and	and	CCONJ
ajfa-10056	116	7	wmlb	wmlb	NOUN
ajfa-10056	116	8	=	=	SYM
ajfa-10056	116	9	bw	bw	NOUN
ajfa-10056	116	10	-	-	PUNCT
ajfa-10056	116	11	bl	bl	PROPN
ajfa-10056	116	12	,	,	PUNCT
ajfa-10056	116	13	and	and	CCONJ
ajfa-10056	116	14	wml	wml	PROPN
ajfa-10056	116	15	is	be	AUX
ajfa-10056	116	16	the	the	DET
ajfa-10056	116	17	equal	equal	ADJ
ajfa-10056	116	18	-	-	PUNCT
ajfa-10056	116	19	weight	weight	NOUN
ajfa-10056	116	20	average	average	NOUN
ajfa-10056	116	21	of	of	ADP
ajfa-10056	116	22	wmls	wmls	NOUN
ajfa-10056	116	23	and	and	CCONJ
ajfa-10056	116	24	wmlb	wmlb	NOUN
ajfa-10056	116	25	.	.	PUNCT
ajfa-10056	117	1	hmls	hmls	NOUN
ajfa-10056	117	2	-	-	PUNCT
ajfa-10056	117	3	b	b	PROPN
ajfa-10056	117	4	(	(	PUNCT
ajfa-10056	117	5	wmls	wmls	PROPN
ajfa-10056	117	6	-	-	PUNCT
ajfa-10056	117	7	b)is	b)is	PROPN
ajfa-10056	117	8	the	the	DET
ajfa-10056	117	9	difference	difference	NOUN
ajfa-10056	117	10	between	between	ADP
ajfa-10056	117	11	hmls	hmls	NOUN
ajfa-10056	117	12	and	and	CCONJ
ajfa-10056	117	13	hmlb	hmlb	NOUN
ajfa-10056	117	14	(	(	PUNCT
ajfa-10056	117	15	wmls	wmls	NOUN
ajfa-10056	117	16	and	and	CCONJ
ajfa-10056	117	17	wmlb	wmlb	NOUN
ajfa-10056	117	18	)	)	PUNCT
ajfa-10056	117	19	.	.	PUNCT
ajfa-10056	118	1	these	these	DET
ajfa-10056	118	2	results	result	NOUN
ajfa-10056	118	3	are	be	AUX
ajfa-10056	118	4	markedly	markedly	ADV
ajfa-10056	118	5	different	different	ADJ
ajfa-10056	118	6	with	with	ADP
ajfa-10056	118	7	the	the	DET
ajfa-10056	118	8	findings	finding	NOUN
ajfa-10056	118	9	of	of	ADP
ajfa-10056	118	10	fama	fama	PROPN
ajfa-10056	118	11	and	and	CCONJ
ajfa-10056	118	12	french	french	ADJ
ajfa-10056	118	13	(	(	PUNCT
ajfa-10056	118	14	2012	2012	NUM
ajfa-10056	118	15	)	)	PUNCT
ajfa-10056	118	16	with	with	ADP
ajfa-10056	118	17	regard	regard	NOUN
ajfa-10056	118	18	to	to	ADP
ajfa-10056	118	19	developed	develop	VERB
ajfa-10056	118	20	markets	market	NOUN
ajfa-10056	118	21	,	,	PUNCT
ajfa-10056	118	22	where	where	SCONJ
ajfa-10056	118	23	the	the	DET
ajfa-10056	118	24	small	small	ADJ
ajfa-10056	118	25	-	-	PUNCT
ajfa-10056	118	26	cap	cap	NOUN
ajfa-10056	118	27	stocks	stock	NOUN
ajfa-10056	118	28	were	be	AUX
ajfa-10056	118	29	found	find	VERB
ajfa-10056	118	30	to	to	PART
ajfa-10056	118	31	drive	drive	VERB
ajfa-10056	118	32	both	both	DET
ajfa-10056	118	33	the	the	DET
ajfa-10056	118	34	value	value	NOUN
ajfa-10056	118	35	and	and	CCONJ
ajfa-10056	118	36	momentum	momentum	NOUN
ajfa-10056	118	37	premiums	premium	NOUN
ajfa-10056	118	38	.	.	PUNCT
ajfa-10056	119	1	5.2	5.2	NUM
ajfa-10056	119	2	dependent	dependent	ADJ
ajfa-10056	119	3	variables	variable	NOUN
ajfa-10056	119	4	/	/	SYM
ajfa-10056	119	5	lhs	lhs	PROPN
ajfa-10056	119	6	excess	excess	ADJ
ajfa-10056	119	7	portfolio	portfolio	NOUN
ajfa-10056	119	8	returns	return	NOUN
ajfa-10056	119	9	when	when	SCONJ
ajfa-10056	119	10	portfolios	portfolio	NOUN
ajfa-10056	119	11	are	be	AUX
ajfa-10056	119	12	formed	form	VERB
ajfa-10056	119	13	on	on	ADP
ajfa-10056	119	14	size	size	NOUN
ajfa-10056	119	15	and	and	CCONJ
ajfa-10056	119	16	b	b	X
ajfa-10056	119	17	/	/	SYM
ajfa-10056	119	18	m	m	NOUN
ajfa-10056	119	19	ratios	ratio	NOUN
ajfa-10056	119	20	,	,	PUNCT
ajfa-10056	119	21	the	the	DET
ajfa-10056	119	22	standard	standard	ADJ
ajfa-10056	119	23	size	size	NOUN
ajfa-10056	119	24	effect	effect	NOUN
ajfa-10056	119	25	(	(	PUNCT
ajfa-10056	119	26	i.e.	i.e.	X
ajfa-10056	119	27	smaller	small	ADJ
ajfa-10056	119	28	firms	firm	NOUN
ajfa-10056	119	29	having	have	VERB
ajfa-10056	119	30	a	a	DET
ajfa-10056	119	31	larger	large	ADJ
ajfa-10056	119	32	average	average	ADJ
ajfa-10056	119	33	return	return	NOUN
ajfa-10056	119	34	)	)	PUNCT
ajfa-10056	119	35	is	be	AUX
ajfa-10056	119	36	not	not	PART
ajfa-10056	119	37	to	to	PART
ajfa-10056	119	38	be	be	AUX
ajfa-10056	119	39	seen	see	VERB
ajfa-10056	119	40	(	(	PUNCT
ajfa-10056	119	41	table	table	NOUN
ajfa-10056	119	42	2	2	NUM
ajfa-10056	119	43	)	)	PUNCT
ajfa-10056	119	44	,	,	PUNCT
ajfa-10056	119	45	and	and	CCONJ
ajfa-10056	119	46	there	there	PRON
ajfa-10056	119	47	appears	appear	VERB
ajfa-10056	119	48	to	to	PART
ajfa-10056	119	49	be	be	AUX
ajfa-10056	119	50	no	no	DET
ajfa-10056	119	51	persistent	persistent	ADJ
ajfa-10056	119	52	pattern	pattern	NOUN
ajfa-10056	119	53	in	in	ADP
ajfa-10056	119	54	the	the	DET
ajfa-10056	119	55	size	size	NOUN
ajfa-10056	119	56	effect	effect	NOUN
ajfa-10056	119	57	.	.	PUNCT
ajfa-10056	120	1	although	although	SCONJ
ajfa-10056	120	2	traces	trace	NOUN
ajfa-10056	120	3	of	of	ADP
ajfa-10056	120	4	a	a	DET
ajfa-10056	120	5	reverse	reverse	ADJ
ajfa-10056	120	6	size	size	NOUN
ajfa-10056	120	7	effect	effect	NOUN
ajfa-10056	120	8	can	can	AUX
ajfa-10056	120	9	be	be	AUX
ajfa-10056	120	10	seen	see	VERB
ajfa-10056	120	11	,	,	PUNCT
ajfa-10056	120	12	it	it	PRON
ajfa-10056	120	13	is	be	AUX
ajfa-10056	120	14	indisputably	indisputably	ADV
ajfa-10056	120	15	seen	see	VERB
ajfa-10056	120	16	only	only	ADV
ajfa-10056	120	17	in	in	ADP
ajfa-10056	120	18	the	the	DET
ajfa-10056	120	19	neutral	neutral	ADJ
ajfa-10056	120	20	stocks	stock	NOUN
ajfa-10056	120	21	when	when	SCONJ
ajfa-10056	120	22	the	the	DET
ajfa-10056	120	23	financial	financial	ADJ
ajfa-10056	120	24	sector	sector	NOUN
ajfa-10056	120	25	is	be	AUX
ajfa-10056	120	26	excluded	exclude	VERB
ajfa-10056	120	27	(	(	PUNCT
ajfa-10056	120	28	0.85	0.85	NUM
ajfa-10056	120	29	,	,	PUNCT
ajfa-10056	120	30	0.89	0.89	NUM
ajfa-10056	120	31	,	,	PUNCT
ajfa-10056	120	32	and	and	CCONJ
ajfa-10056	120	33	0.91	0.91	NUM
ajfa-10056	120	34	)	)	PUNCT
ajfa-10056	120	35	.	.	PUNCT
ajfa-10056	121	1	there	there	PRON
ajfa-10056	121	2	is	be	VERB
ajfa-10056	121	3	a	a	DET
ajfa-10056	121	4	value	value	NOUN
ajfa-10056	121	5	pattern	pattern	NOUN
ajfa-10056	121	6	in	in	ADP
ajfa-10056	121	7	all	all	DET
ajfa-10056	121	8	size	size	NOUN
ajfa-10056	121	9	groups	group	NOUN
ajfa-10056	121	10	as	as	SCONJ
ajfa-10056	121	11	the	the	DET
ajfa-10056	121	12	theory	theory	NOUN
ajfa-10056	121	13	predicts	predict	VERB
ajfa-10056	121	14	(	(	PUNCT
ajfa-10056	121	15	fama	fama	NOUN
ajfa-10056	121	16	and	and	CCONJ
ajfa-10056	121	17	french	french	ADJ
ajfa-10056	121	18	,	,	PUNCT
ajfa-10056	121	19	1992	1992	NUM
ajfa-10056	121	20	,	,	PUNCT
ajfa-10056	121	21	1996	1996	NUM
ajfa-10056	121	22	,	,	PUNCT
ajfa-10056	121	23	2012	2012	NUM
ajfa-10056	121	24	)	)	PUNCT
ajfa-10056	121	25	;	;	PUNCT
ajfa-10056	121	26	that	that	PRON
ajfa-10056	121	27	is	be	AUX
ajfa-10056	121	28	the	the	DET
ajfa-10056	121	29	average	average	ADJ
ajfa-10056	121	30	excess	excess	ADJ
ajfa-10056	121	31	returns	return	NOUN
ajfa-10056	121	32	increase	increase	VERB
ajfa-10056	121	33	as	as	SCONJ
ajfa-10056	121	34	you	you	PRON
ajfa-10056	121	35	move	move	VERB
ajfa-10056	121	36	from	from	ADP
ajfa-10056	121	37	left	left	ADJ
ajfa-10056	121	38	to	to	ADP
ajfa-10056	121	39	right	right	ADV
ajfa-10056	121	40	in	in	ADP
ajfa-10056	121	41	the	the	DET
ajfa-10056	121	42	size	size	NOUN
ajfa-10056	121	43	-	-	PUNCT
ajfa-10056	121	44	b	b	NOUN
ajfa-10056	121	45	/	/	SYM
ajfa-10056	121	46	m	m	NOUN
ajfa-10056	121	47	matrices	matrix	NOUN
ajfa-10056	121	48	.	.	PUNCT
ajfa-10056	122	1	further	far	ADV
ajfa-10056	122	2	the	the	DET
ajfa-10056	122	3	spread	spread	NOUN
ajfa-10056	122	4	in	in	ADP
ajfa-10056	122	5	value	value	NOUN
ajfa-10056	122	6	versus	versus	ADP
ajfa-10056	122	7	growth	growth	NOUN
ajfa-10056	122	8	average	average	ADJ
ajfa-10056	122	9	returns	return	NOUN
ajfa-10056	122	10	is	be	AUX
ajfa-10056	122	11	highest	high	ADJ
ajfa-10056	122	12	for	for	ADP
ajfa-10056	122	13	the	the	DET
ajfa-10056	122	14	big	big	ADJ
ajfa-10056	122	15	-	-	PUNCT
ajfa-10056	122	16	cap	cap	NOUN
ajfa-10056	122	17	stocks	stock	NOUN
ajfa-10056	122	18	;	;	PUNCT
ajfa-10056	122	19	i.e.	i.e.	X
ajfa-10056	122	20	0.99	0.99	NUM
ajfa-10056	122	21	%	%	NOUN
ajfa-10056	122	22	(=	(=	NOUN
ajfa-10056	122	23	1.61	1.61	NUM
ajfa-10056	122	24	%	%	NOUN
ajfa-10056	122	25	0.62	0.62	NUM
ajfa-10056	122	26	%	%	NOUN
ajfa-10056	122	27	)	)	PUNCT
ajfa-10056	122	28	when	when	SCONJ
ajfa-10056	122	29	financial	financial	ADJ
ajfa-10056	122	30	firms	firm	NOUN
ajfa-10056	122	31	are	be	AUX
ajfa-10056	122	32	excluded	exclude	VERB
ajfa-10056	122	33	and	and	CCONJ
ajfa-10056	122	34	0.95	0.95	NUM
ajfa-10056	122	35	%	%	NOUN
ajfa-10056	122	36	(=	(=	NOUN
ajfa-10056	122	37	1.67	1.67	NUM
ajfa-10056	122	38	%	%	NOUN
ajfa-10056	122	39	0.72	0.72	NUM
ajfa-10056	122	40	%	%	NOUN
ajfa-10056	122	41	)	)	PUNCT
ajfa-10056	122	42	when	when	SCONJ
ajfa-10056	122	43	all	all	DET
ajfa-10056	122	44	companies	company	NOUN
ajfa-10056	122	45	are	be	AUX
ajfa-10056	122	46	considered	consider	VERB
ajfa-10056	122	47	.	.	PUNCT
ajfa-10056	123	1	asian	asian	ADJ
ajfa-10056	123	2	journal	journal	PROPN
ajfa-10056	123	3	of	of	ADP
ajfa-10056	123	4	finance	finance	PROPN
ajfa-10056	123	5	&	&	CCONJ
ajfa-10056	123	6	accounting	accounting	PROPN
ajfa-10056	123	7	issn	issn	PROPN
ajfa-10056	123	8	1946	1946	NUM
ajfa-10056	123	9	-	-	PUNCT
ajfa-10056	123	10	052x	052x	PROPN
ajfa-10056	123	11	2016	2016	NUM
ajfa-10056	123	12	,	,	PUNCT
ajfa-10056	123	13	vol	vol	NOUN
ajfa-10056	123	14	.	.	PROPN
ajfa-10056	123	15	8	8	NUM
ajfa-10056	123	16	,	,	PUNCT
ajfa-10056	123	17	no	no	INTJ
ajfa-10056	123	18	.	.	NOUN
ajfa-10056	123	19	2	2	NUM
ajfa-10056	123	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	123	21	120	120	NUM
ajfa-10056	123	22	table	table	NOUN
ajfa-10056	123	23	2	2	NUM
ajfa-10056	123	24	.	.	PUNCT
ajfa-10056	123	25	summary	summary	NOUN
ajfa-10056	123	26	statistics	statistic	NOUN
ajfa-10056	123	27	for	for	ADP
ajfa-10056	123	28	the	the	DET
ajfa-10056	123	29	9	9	NUM
ajfa-10056	123	30	size	size	NOUN
ajfa-10056	123	31	-	-	PUNCT
ajfa-10056	123	32	b	b	NOUN
ajfa-10056	123	33	/	/	SYM
ajfa-10056	123	34	m	m	NOUN
ajfa-10056	123	35	portfolios	portfolio	NOUN
ajfa-10056	123	36	’	'	PUNCT
ajfa-10056	123	37	average	average	ADJ
ajfa-10056	123	38	excess	excess	ADJ
ajfa-10056	123	39	returns	return	NOUN
ajfa-10056	123	40	the	the	DET
ajfa-10056	123	41	section	section	NOUN
ajfa-10056	123	42	on	on	ADP
ajfa-10056	123	43	excluding	exclude	VERB
ajfa-10056	123	44	finance	finance	NOUN
ajfa-10056	123	45	is	be	AUX
ajfa-10056	123	46	extracted	extract	VERB
ajfa-10056	123	47	from	from	ADP
ajfa-10056	123	48	abeysekera	abeysekera	NOUN
ajfa-10056	123	49	and	and	CCONJ
ajfa-10056	123	50	nimal	nimal	PROPN
ajfa-10056	123	51	(	(	PUNCT
ajfa-10056	123	52	2016	2016	NUM
ajfa-10056	123	53	)	)	PUNCT
ajfa-10056	123	54	for	for	ADP
ajfa-10056	123	55	comparison	comparison	NOUN
ajfa-10056	123	56	purpose	purpose	NOUN
ajfa-10056	123	57	.	.	PUNCT
ajfa-10056	124	1	at	at	ADP
ajfa-10056	124	2	the	the	DET
ajfa-10056	124	3	end	end	NOUN
ajfa-10056	124	4	of	of	ADP
ajfa-10056	124	5	september	september	PROPN
ajfa-10056	124	6	of	of	ADP
ajfa-10056	124	7	each	each	DET
ajfa-10056	124	8	year	year	NOUN
ajfa-10056	124	9	,	,	PUNCT
ajfa-10056	124	10	size	size	NOUN
ajfa-10056	124	11	-	-	PUNCT
ajfa-10056	124	12	b	b	NOUN
ajfa-10056	124	13	/	/	SYM
ajfa-10056	124	14	m	m	NOUN
ajfa-10056	124	15	portfolios	portfolio	NOUN
ajfa-10056	124	16	are	be	AUX
ajfa-10056	124	17	constructed	construct	VERB
ajfa-10056	124	18	using	use	VERB
ajfa-10056	124	19	tertiles	tertile	NOUN
ajfa-10056	124	20	as	as	ADP
ajfa-10056	124	21	the	the	DET
ajfa-10056	124	22	breakpoints	breakpoint	NOUN
ajfa-10056	124	23	.	.	PUNCT
ajfa-10056	125	1	the	the	DET
ajfa-10056	125	2	intersections	intersection	NOUN
ajfa-10056	125	3	of	of	ADP
ajfa-10056	125	4	the	the	DET
ajfa-10056	125	5	3×3	3×3	NUM
ajfa-10056	125	6	independent	independent	ADJ
ajfa-10056	125	7	size	size	NOUN
ajfa-10056	125	8	and	and	CCONJ
ajfa-10056	125	9	b	b	X
ajfa-10056	125	10	/	/	SYM
ajfa-10056	125	11	m	m	NOUN
ajfa-10056	125	12	sorts	sort	NOUN
ajfa-10056	125	13	produce	produce	VERB
ajfa-10056	125	14	9	9	NUM
ajfa-10056	125	15	size	size	NOUN
ajfa-10056	125	16	-	-	PUNCT
ajfa-10056	125	17	b	b	NOUN
ajfa-10056	125	18	/	/	SYM
ajfa-10056	125	19	m	m	NOUN
ajfa-10056	125	20	portfolios	portfolio	NOUN
ajfa-10056	125	21	.	.	PUNCT
ajfa-10056	126	1	table	table	NOUN
ajfa-10056	126	2	3	3	NUM
ajfa-10056	126	3	.	.	PUNCT
ajfa-10056	127	1	summary	summary	NOUN
ajfa-10056	127	2	statistics	statistic	NOUN
ajfa-10056	127	3	for	for	ADP
ajfa-10056	127	4	the	the	DET
ajfa-10056	127	5	9	9	NUM
ajfa-10056	127	6	size	size	NOUN
ajfa-10056	127	7	-	-	PUNCT
ajfa-10056	127	8	momentum	momentum	NOUN
ajfa-10056	127	9	portfolios	portfolio	NOUN
ajfa-10056	127	10	’	'	PUNCT
ajfa-10056	127	11	average	average	ADJ
ajfa-10056	127	12	excess	excess	ADJ
ajfa-10056	127	13	returns	return	NOUN
ajfa-10056	127	14	lagged	lag	VERB
ajfa-10056	127	15	return	return	NOUN
ajfa-10056	127	16	(	(	PUNCT
ajfa-10056	127	17	tertiles	tertile	NOUN
ajfa-10056	127	18	)	)	PUNCT
ajfa-10056	127	19	size	size	NOUN
ajfa-10056	127	20	1	1	NUM
ajfa-10056	127	21	2	2	NUM
ajfa-10056	127	22	3	3	NUM
ajfa-10056	127	23	1	1	NUM
ajfa-10056	127	24	2	2	NUM
ajfa-10056	127	25	3	3	NUM
ajfa-10056	127	26	mean	mean	NOUN
ajfa-10056	127	27	excess	excess	ADJ
ajfa-10056	127	28	returns	return	NOUN
ajfa-10056	127	29	standard	standard	ADJ
ajfa-10056	127	30	deviation	deviation	NOUN
ajfa-10056	127	31	excluding	exclude	VERB
ajfa-10056	127	32	finance	finance	NOUN
ajfa-10056	127	33	1	1	NUM
ajfa-10056	127	34	1.06	1.06	NUM
ajfa-10056	127	35	1.03	1.03	NUM
ajfa-10056	127	36	0.39	0.39	NUM
ajfa-10056	127	37	1	1	NUM
ajfa-10056	127	38	8.73	8.73	NUM
ajfa-10056	127	39	8.10	8.10	NUM
ajfa-10056	127	40	7.98	7.98	NUM
ajfa-10056	127	41	2	2	NUM
ajfa-10056	127	42	0.52	0.52	NUM
ajfa-10056	127	43	0.96	0.96	NUM
ajfa-10056	127	44	0.76	0.76	NUM
ajfa-10056	127	45	2	2	NUM
ajfa-10056	127	46	8.86	8.86	NUM
ajfa-10056	127	47	8.10	8.10	NUM
ajfa-10056	127	48	8.20	8.20	NUM
ajfa-10056	127	49	3	3	NUM
ajfa-10056	127	50	0.61	0.61	NUM
ajfa-10056	127	51	0.78	0.78	NUM
ajfa-10056	127	52	1.03	1.03	NUM
ajfa-10056	127	53	3	3	NUM
ajfa-10056	127	54	8.12	8.12	NUM
ajfa-10056	127	55	7.12	7.12	NUM
ajfa-10056	127	56	7.23	7.23	NUM
ajfa-10056	127	57	all	all	DET
ajfa-10056	127	58	companies	company	NOUN
ajfa-10056	127	59	1	1	NUM
ajfa-10056	127	60	0.93	0.93	NUM
ajfa-10056	127	61	0.91	0.91	NUM
ajfa-10056	127	62	0.53	0.53	NUM
ajfa-10056	127	63	1	1	NUM
ajfa-10056	127	64	8.90	8.90	NUM
ajfa-10056	127	65	8.18	8.18	NUM
ajfa-10056	127	66	8.04	8.04	NUM
ajfa-10056	127	67	2	2	NUM
ajfa-10056	127	68	0.57	0.57	NUM
ajfa-10056	127	69	1.02	1.02	NUM
ajfa-10056	127	70	0.60	0.60	NUM
ajfa-10056	127	71	2	2	NUM
ajfa-10056	127	72	8.78	8.78	NUM
ajfa-10056	127	73	8.01	8.01	NUM
ajfa-10056	127	74	7.82	7.82	NUM
ajfa-10056	127	75	3	3	NUM
ajfa-10056	127	76	0.63	0.63	NUM
ajfa-10056	127	77	0.94	0.94	NUM
ajfa-10056	127	78	1.08	1.08	NUM
ajfa-10056	127	79	3	3	NUM
ajfa-10056	127	80	8.11	8.11	NUM
ajfa-10056	127	81	7.29	7.29	NUM
ajfa-10056	127	82	7.28	7.28	NUM
ajfa-10056	127	83	the	the	DET
ajfa-10056	127	84	section	section	NOUN
ajfa-10056	127	85	on	on	ADP
ajfa-10056	127	86	excluding	exclude	VERB
ajfa-10056	127	87	finance	finance	NOUN
ajfa-10056	127	88	is	be	AUX
ajfa-10056	127	89	extracted	extract	VERB
ajfa-10056	127	90	from	from	ADP
ajfa-10056	127	91	abeysekera	abeysekera	NOUN
ajfa-10056	127	92	and	and	CCONJ
ajfa-10056	127	93	nimal	nimal	PROPN
ajfa-10056	127	94	(	(	PUNCT
ajfa-10056	127	95	2016	2016	NUM
ajfa-10056	127	96	)	)	PUNCT
ajfa-10056	127	97	for	for	ADP
ajfa-10056	127	98	comparison	comparison	NOUN
ajfa-10056	127	99	purpose	purpose	NOUN
ajfa-10056	127	100	.	.	PUNCT
ajfa-10056	128	1	the	the	DET
ajfa-10056	128	2	3×3	3×3	NUM
ajfa-10056	128	3	sorts	sort	NOUN
ajfa-10056	128	4	on	on	ADP
ajfa-10056	128	5	size	size	NOUN
ajfa-10056	128	6	and	and	CCONJ
ajfa-10056	128	7	momentum	momentum	NOUN
ajfa-10056	128	8	use	use	VERB
ajfa-10056	128	9	the	the	DET
ajfa-10056	128	10	same	same	ADJ
ajfa-10056	128	11	breakpoint	breakpoint	NOUN
ajfa-10056	128	12	conventions	convention	NOUN
ajfa-10056	128	13	as	as	ADP
ajfa-10056	128	14	the	the	DET
ajfa-10056	128	15	size	size	NOUN
ajfa-10056	128	16	-	-	PUNCT
ajfa-10056	128	17	b	b	NOUN
ajfa-10056	128	18	/	/	SYM
ajfa-10056	128	19	m	m	NOUN
ajfa-10056	128	20	sorts	sort	NOUN
ajfa-10056	128	21	,	,	PUNCT
ajfa-10056	128	22	except	except	SCONJ
ajfa-10056	128	23	that	that	SCONJ
ajfa-10056	128	24	the	the	DET
ajfa-10056	128	25	size	size	NOUN
ajfa-10056	128	26	-	-	PUNCT
ajfa-10056	128	27	momentum	momentum	NOUN
ajfa-10056	128	28	portfolios	portfolio	NOUN
ajfa-10056	128	29	are	be	AUX
ajfa-10056	128	30	formed	form	VERB
ajfa-10056	128	31	monthly	monthly	ADV
ajfa-10056	128	32	.	.	PUNCT
ajfa-10056	129	1	the	the	DET
ajfa-10056	129	2	intersections	intersection	NOUN
ajfa-10056	129	3	of	of	ADP
ajfa-10056	129	4	the	the	DET
ajfa-10056	129	5	independent	independent	ADJ
ajfa-10056	129	6	3×3	3×3	NUM
ajfa-10056	129	7	size	size	NOUN
ajfa-10056	129	8	and	and	CCONJ
ajfa-10056	129	9	momentum	momentum	NOUN
ajfa-10056	129	10	sorts	sort	NOUN
ajfa-10056	129	11	produce	produce	VERB
ajfa-10056	129	12	9	9	NUM
ajfa-10056	129	13	size	size	NOUN
ajfa-10056	129	14	-	-	PUNCT
ajfa-10056	129	15	momentum	momentum	NOUN
ajfa-10056	129	16	portfolios	portfolio	NOUN
ajfa-10056	129	17	.	.	PUNCT
ajfa-10056	130	1	for	for	ADP
ajfa-10056	130	2	both	both	DET
ajfa-10056	130	3	scenarios	scenario	NOUN
ajfa-10056	130	4	shown	show	VERB
ajfa-10056	130	5	in	in	ADP
ajfa-10056	130	6	table	table	NOUN
ajfa-10056	130	7	3	3	NUM
ajfa-10056	130	8	,	,	PUNCT
ajfa-10056	130	9	where	where	SCONJ
ajfa-10056	130	10	portfolios	portfolio	NOUN
ajfa-10056	130	11	are	be	AUX
ajfa-10056	130	12	formed	form	VERB
ajfa-10056	130	13	on	on	ADP
ajfa-10056	130	14	size	size	NOUN
ajfa-10056	130	15	and	and	CCONJ
ajfa-10056	130	16	momentum	momentum	NOUN
ajfa-10056	130	17	,	,	PUNCT
ajfa-10056	130	18	the	the	DET
ajfa-10056	130	19	momentum	momentum	NOUN
ajfa-10056	130	20	pattern	pattern	NOUN
ajfa-10056	130	21	prevails	prevail	VERB
ajfa-10056	130	22	in	in	ADP
ajfa-10056	130	23	big	big	ADJ
ajfa-10056	130	24	-	-	PUNCT
ajfa-10056	130	25	cap	cap	NOUN
ajfa-10056	130	26	companies	company	NOUN
ajfa-10056	130	27	;	;	PUNCT
ajfa-10056	130	28	i.e.	i.e.	X
ajfa-10056	130	29	when	when	SCONJ
ajfa-10056	130	30	you	you	PRON
ajfa-10056	130	31	move	move	VERB
ajfa-10056	130	32	from	from	ADP
ajfa-10056	130	33	left	left	ADJ
ajfa-10056	130	34	(	(	PUNCT
ajfa-10056	130	35	last	last	ADJ
ajfa-10056	130	36	year	year	NOUN
ajfa-10056	130	37	’s	’s	PART
ajfa-10056	130	38	losers	loser	NOUN
ajfa-10056	130	39	)	)	PUNCT
ajfa-10056	130	40	to	to	ADP
ajfa-10056	130	41	right	right	ADV
ajfa-10056	130	42	(	(	PUNCT
ajfa-10056	130	43	last	last	ADJ
ajfa-10056	130	44	year	year	NOUN
ajfa-10056	130	45	’s	’s	PART
ajfa-10056	130	46	winners	winner	NOUN
ajfa-10056	130	47	)	)	PUNCT
ajfa-10056	130	48	the	the	DET
ajfa-10056	130	49	average	average	ADJ
ajfa-10056	130	50	return	return	NOUN
ajfa-10056	130	51	increases	increase	NOUN
ajfa-10056	130	52	.	.	PUNCT
ajfa-10056	131	1	however	however	ADV
ajfa-10056	131	2	there	there	PRON
ajfa-10056	131	3	is	be	VERB
ajfa-10056	131	4	a	a	DET
ajfa-10056	131	5	reversal	reversal	NOUN
ajfa-10056	131	6	of	of	ADP
ajfa-10056	131	7	the	the	DET
ajfa-10056	131	8	momentum	momentum	NOUN
ajfa-10056	131	9	pattern	pattern	NOUN
ajfa-10056	131	10	for	for	ADP
ajfa-10056	131	11	small	small	ADJ
ajfa-10056	131	12	-	-	PUNCT
ajfa-10056	131	13	cap	cap	NOUN
ajfa-10056	131	14	companies	company	NOUN
ajfa-10056	131	15	,	,	PUNCT
ajfa-10056	131	16	suggesting	suggest	VERB
ajfa-10056	131	17	a	a	DET
ajfa-10056	131	18	‘	'	PUNCT
ajfa-10056	131	19	contrarian	contrarian	ADJ
ajfa-10056	131	20	’	'	PUNCT
ajfa-10056	131	21	pattern	pattern	NOUN
ajfa-10056	131	22	with	with	ADP
ajfa-10056	131	23	the	the	DET
ajfa-10056	131	24	average	average	ADJ
ajfa-10056	131	25	return	return	NOUN
ajfa-10056	131	26	decreasing	decrease	VERB
ajfa-10056	131	27	when	when	SCONJ
ajfa-10056	131	28	moving	move	VERB
ajfa-10056	131	29	from	from	ADP
ajfa-10056	131	30	left	left	NOUN
ajfa-10056	131	31	to	to	ADP
ajfa-10056	131	32	right	right	NOUN
ajfa-10056	131	33	.	.	PUNCT
ajfa-10056	132	1	in	in	ADP
ajfa-10056	132	2	both	both	DET
ajfa-10056	132	3	scenarios	scenario	NOUN
ajfa-10056	132	4	the	the	DET
ajfa-10056	132	5	medium	medium	ADJ
ajfa-10056	132	6	-	-	PUNCT
ajfa-10056	132	7	cap	cap	NOUN
ajfa-10056	132	8	firms	firm	NOUN
ajfa-10056	132	9	show	show	VERB
ajfa-10056	132	10	a	a	DET
ajfa-10056	132	11	momentum	momentum	NOUN
ajfa-10056	132	12	pattern	pattern	NOUN
ajfa-10056	132	13	and	and	CCONJ
ajfa-10056	132	14	a	a	DET
ajfa-10056	132	15	reversal	reversal	NOUN
ajfa-10056	132	16	when	when	SCONJ
ajfa-10056	132	17	moving	move	VERB
ajfa-10056	132	18	from	from	ADP
ajfa-10056	132	19	left	left	NOUN
ajfa-10056	132	20	to	to	ADP
ajfa-10056	132	21	right	right	NOUN
ajfa-10056	132	22	.	.	PUNCT
ajfa-10056	133	1	the	the	DET
ajfa-10056	133	2	spread	spread	NOUN
ajfa-10056	133	3	in	in	ADP
ajfa-10056	133	4	momentum	momentum	NOUN
ajfa-10056	133	5	average	average	ADJ
ajfa-10056	133	6	returns	return	NOUN
ajfa-10056	133	7	is	be	AUX
ajfa-10056	133	8	highest	high	ADJ
ajfa-10056	133	9	for	for	ADP
ajfa-10056	133	10	the	the	DET
ajfa-10056	133	11	small	small	ADJ
ajfa-10056	133	12	-	-	PUNCT
ajfa-10056	133	13	cap	cap	NOUN
ajfa-10056	133	14	stocks	stock	NOUN
ajfa-10056	133	15	when	when	SCONJ
ajfa-10056	133	16	financial	financial	ADJ
ajfa-10056	133	17	firms	firm	NOUN
ajfa-10056	133	18	are	be	AUX
ajfa-10056	133	19	excluded	exclude	VERB
ajfa-10056	133	20	and	and	CCONJ
ajfa-10056	133	21	it	it	PRON
ajfa-10056	133	22	is	be	AUX
ajfa-10056	133	23	highest	high	ADJ
ajfa-10056	133	24	for	for	ADP
ajfa-10056	133	25	the	the	DET
ajfa-10056	133	26	big	big	ADJ
ajfa-10056	133	27	-	-	PUNCT
ajfa-10056	133	28	cap	cap	NOUN
ajfa-10056	133	29	stocks	stock	NOUN
ajfa-10056	133	30	when	when	SCONJ
ajfa-10056	133	31	all	all	DET
ajfa-10056	133	32	companies	company	NOUN
ajfa-10056	133	33	are	be	AUX
ajfa-10056	133	34	considered	consider	VERB
ajfa-10056	133	35	.	.	PUNCT
ajfa-10056	134	1	6	6	X
ajfa-10056	134	2	.	.	X
ajfa-10056	134	3	asset	asset	NOUN
ajfa-10056	134	4	pricing	pricing	NOUN
ajfa-10056	134	5	tests	test	VERB
ajfa-10056	134	6	book	book	NOUN
ajfa-10056	134	7	-	-	PUNCT
ajfa-10056	134	8	to	to	ADP
ajfa-10056	134	9	-	-	PUNCT
ajfa-10056	134	10	market	market	NOUN
ajfa-10056	134	11	equity	equity	NOUN
ajfa-10056	134	12	(	(	PUNCT
ajfa-10056	134	13	tertiles	tertile	NOUN
ajfa-10056	134	14	)	)	PUNCT
ajfa-10056	134	15	size	size	NOUN
ajfa-10056	134	16	1	1	NUM
ajfa-10056	134	17	2	2	NUM
ajfa-10056	134	18	3	3	NUM
ajfa-10056	134	19	1	1	NUM
ajfa-10056	134	20	2	2	NUM
ajfa-10056	134	21	3	3	NUM
ajfa-10056	134	22	mean	mean	NOUN
ajfa-10056	134	23	excess	excess	ADJ
ajfa-10056	134	24	returns	return	NOUN
ajfa-10056	134	25	standard	standard	ADJ
ajfa-10056	134	26	deviation	deviation	NOUN
ajfa-10056	134	27	excluding	exclude	VERB
ajfa-10056	134	28	finance	finance	NOUN
ajfa-10056	134	29	1	1	NUM
ajfa-10056	134	30	0.81	0.81	NUM
ajfa-10056	134	31	0.85	0.85	NUM
ajfa-10056	134	32	1.18	1.18	NUM
ajfa-10056	134	33	1	1	NUM
ajfa-10056	134	34	9.06	9.06	NUM
ajfa-10056	134	35	7.54	7.54	NUM
ajfa-10056	134	36	7.66	7.66	NUM
ajfa-10056	134	37	2	2	NUM
ajfa-10056	134	38	0.11	0.11	NUM
ajfa-10056	134	39	0.89	0.89	NUM
ajfa-10056	134	40	0.98	0.98	NUM
ajfa-10056	134	41	2	2	NUM
ajfa-10056	134	42	8.96	8.96	NUM
ajfa-10056	134	43	7.74	7.74	NUM
ajfa-10056	134	44	8.36	8.36	NUM
ajfa-10056	134	45	3	3	NUM
ajfa-10056	134	46	0.62	0.62	NUM
ajfa-10056	134	47	0.91	0.91	NUM
ajfa-10056	134	48	1.61	1.61	NUM
ajfa-10056	134	49	3	3	NUM
ajfa-10056	134	50	6.48	6.48	NUM
ajfa-10056	134	51	7.59	7.59	NUM
ajfa-10056	134	52	9.25	9.25	NUM
ajfa-10056	134	53	all	all	DET
ajfa-10056	134	54	companies	company	NOUN
ajfa-10056	134	55	1	1	NUM
ajfa-10056	134	56	0.43	0.43	NUM
ajfa-10056	134	57	0.90	0.90	NUM
ajfa-10056	134	58	1.11	1.11	NUM
ajfa-10056	134	59	1	1	NUM
ajfa-10056	134	60	8.99	8.99	NUM
ajfa-10056	134	61	7.75	7.75	NUM
ajfa-10056	134	62	7.81	7.81	NUM
ajfa-10056	134	63	2	2	NUM
ajfa-10056	134	64	0.11	0.11	NUM
ajfa-10056	134	65	0.98	0.98	NUM
ajfa-10056	134	66	0.98	0.98	NUM
ajfa-10056	134	67	2	2	NUM
ajfa-10056	134	68	8.34	8.34	NUM
ajfa-10056	134	69	7.72	7.72	NUM
ajfa-10056	134	70	8.18	8.18	NUM
ajfa-10056	134	71	3	3	NUM
ajfa-10056	134	72	0.72	0.72	NUM
ajfa-10056	134	73	0.87	0.87	NUM
ajfa-10056	134	74	1.67	1.67	NUM
ajfa-10056	134	75	3	3	NUM
ajfa-10056	134	76	6.53	6.53	NUM
ajfa-10056	134	77	7.53	7.53	NUM
ajfa-10056	134	78	9.02	9.02	NUM
ajfa-10056	134	79	asian	asian	ADJ
ajfa-10056	134	80	journal	journal	NOUN
ajfa-10056	134	81	of	of	ADP
ajfa-10056	134	82	finance	finance	PROPN
ajfa-10056	134	83	&	&	CCONJ
ajfa-10056	134	84	accounting	accounting	PROPN
ajfa-10056	134	85	issn	issn	PROPN
ajfa-10056	134	86	1946	1946	NUM
ajfa-10056	134	87	-	-	PUNCT
ajfa-10056	134	88	052x	052x	PROPN
ajfa-10056	134	89	2016	2016	NUM
ajfa-10056	134	90	,	,	PUNCT
ajfa-10056	134	91	vol	vol	NOUN
ajfa-10056	134	92	.	.	PROPN
ajfa-10056	134	93	8	8	NUM
ajfa-10056	134	94	,	,	PUNCT
ajfa-10056	134	95	no	no	INTJ
ajfa-10056	134	96	.	.	NOUN
ajfa-10056	134	97	2	2	NUM
ajfa-10056	134	98	ajfa.macrothink.org	ajfa.macrothink.org	NOUN
ajfa-10056	134	99	121	121	NUM
ajfa-10056	134	100	the	the	DET
ajfa-10056	134	101	regressions	regression	NOUN
ajfa-10056	134	102	run	run	VERB
ajfa-10056	134	103	for	for	ADP
ajfa-10056	134	104	the	the	DET
ajfa-10056	134	105	four	four	NUM
ajfa-10056	134	106	-	-	PUNCT
ajfa-10056	134	107	factor	factor	NOUN
ajfa-10056	134	108	model	model	NOUN
ajfa-10056	134	109	(	(	PUNCT
ajfa-10056	134	110	not	not	PART
ajfa-10056	134	111	reported	report	VERB
ajfa-10056	134	112	)	)	PUNCT
ajfa-10056	134	113	all	all	PRON
ajfa-10056	134	114	show	show	VERB
ajfa-10056	134	115	a	a	DET
ajfa-10056	134	116	clear	clear	ADJ
ajfa-10056	134	117	size	size	NOUN
ajfa-10056	134	118	,	,	PUNCT
ajfa-10056	134	119	value	value	NOUN
ajfa-10056	134	120	and	and	CCONJ
ajfa-10056	134	121	momentum	momentum	NOUN
ajfa-10056	134	122	pattern	pattern	NOUN
ajfa-10056	134	123	on	on	ADP
ajfa-10056	134	124	the	the	DET
ajfa-10056	134	125	coefficients	coefficient	NOUN
ajfa-10056	134	126	when	when	SCONJ
ajfa-10056	134	127	the	the	DET
ajfa-10056	134	128	financial	financial	ADJ
ajfa-10056	134	129	sector	sector	NOUN
ajfa-10056	134	130	is	be	AUX
ajfa-10056	134	131	both	both	PRON
ajfa-10056	134	132	excluded	exclude	VERB
ajfa-10056	134	133	and	and	CCONJ
ajfa-10056	134	134	included	include	VERB
ajfa-10056	134	135	.	.	PUNCT
ajfa-10056	135	1	further	far	ADV
ajfa-10056	135	2	in	in	ADP
ajfa-10056	135	3	both	both	DET
ajfa-10056	135	4	scenarios	scenario	NOUN
ajfa-10056	135	5	most	most	ADJ
ajfa-10056	135	6	of	of	ADP
ajfa-10056	135	7	the	the	DET
ajfa-10056	135	8	intercepts	intercept	NOUN
ajfa-10056	135	9	were	be	AUX
ajfa-10056	135	10	statistically	statistically	ADV
ajfa-10056	135	11	insignificant	insignificant	ADJ
ajfa-10056	135	12	while	while	SCONJ
ajfa-10056	135	13	most	most	ADJ
ajfa-10056	135	14	coefficients	coefficient	NOUN
ajfa-10056	135	15	were	be	AUX
ajfa-10056	135	16	statistically	statistically	ADV
ajfa-10056	135	17	significant	significant	ADJ
ajfa-10056	135	18	.	.	PUNCT
ajfa-10056	136	1	table	table	NOUN
ajfa-10056	136	2	4	4	NUM
ajfa-10056	136	3	.	.	PUNCT
ajfa-10056	137	1	summary	summary	NOUN
ajfa-10056	137	2	statistics	statistic	NOUN
ajfa-10056	137	3	for	for	ADP
ajfa-10056	137	4	regressions	regression	NOUN
ajfa-10056	137	5	to	to	PART
ajfa-10056	137	6	explain	explain	VERB
ajfa-10056	137	7	excess	excess	ADJ
ajfa-10056	137	8	returns	return	NOUN
ajfa-10056	137	9	on	on	ADP
ajfa-10056	137	10	the	the	DET
ajfa-10056	137	11	9	9	NUM
ajfa-10056	137	12	size	size	NOUN
ajfa-10056	137	13	-	-	PUNCT
ajfa-10056	137	14	b	b	NOUN
ajfa-10056	137	15	/	/	SYM
ajfa-10056	137	16	m	m	NOUN
ajfa-10056	137	17	portfolios	portfolio	NOUN
ajfa-10056	137	18	the	the	DET
ajfa-10056	137	19	section	section	NOUN
ajfa-10056	137	20	on	on	ADP
ajfa-10056	137	21	excluding	exclude	VERB
ajfa-10056	137	22	finance	finance	NOUN
ajfa-10056	137	23	is	be	AUX
ajfa-10056	137	24	extracted	extract	VERB
ajfa-10056	137	25	from	from	ADP
ajfa-10056	137	26	abeysekera	abeysekera	NOUN
ajfa-10056	137	27	and	and	CCONJ
ajfa-10056	137	28	nimal	nimal	PROPN
ajfa-10056	137	29	(	(	PUNCT
ajfa-10056	137	30	2016	2016	NUM
ajfa-10056	137	31	)	)	PUNCT
ajfa-10056	137	32	for	for	ADP
ajfa-10056	137	33	comparison	comparison	NOUN
ajfa-10056	137	34	purpose	purpose	NOUN
ajfa-10056	137	35	.	.	PUNCT
ajfa-10056	138	1	the	the	DET
ajfa-10056	138	2	regressions	regression	NOUN
ajfa-10056	138	3	use	use	VERB
ajfa-10056	138	4	the	the	DET
ajfa-10056	138	5	capm	capm	NOUN
ajfa-10056	138	6	,	,	PUNCT
ajfa-10056	138	7	three	three	NUM
ajfa-10056	138	8	-	-	PUNCT
ajfa-10056	138	9	factor	factor	NOUN
ajfa-10056	138	10	and	and	CCONJ
ajfa-10056	138	11	four	four	NUM
ajfa-10056	138	12	-	-	PUNCT
ajfa-10056	138	13	factor	factor	NOUN
ajfa-10056	138	14	models	model	NOUN
ajfa-10056	138	15	to	to	PART
ajfa-10056	138	16	explain	explain	VERB
ajfa-10056	138	17	the	the	DET
ajfa-10056	138	18	returns	return	NOUN
ajfa-10056	138	19	on	on	ADP
ajfa-10056	138	20	portfolios	portfolio	NOUN
ajfa-10056	138	21	formed	form	VERB
ajfa-10056	138	22	on	on	ADP
ajfa-10056	138	23	size	size	NOUN
ajfa-10056	138	24	and	and	CCONJ
ajfa-10056	138	25	b	b	X
ajfa-10056	138	26	/	/	SYM
ajfa-10056	138	27	m.	m.	NOUN
ajfa-10056	138	28	the	the	DET
ajfa-10056	138	29	grs	grs	PROPN
ajfa-10056	138	30	f	f	X
ajfa-10056	138	31	-	-	PUNCT
ajfa-10056	138	32	statistic	statistic	NOUN
ajfa-10056	138	33	tests	test	NOUN
ajfa-10056	138	34	whether	whether	SCONJ
ajfa-10056	138	35	all	all	DET
ajfa-10056	138	36	intercepts	intercept	NOUN
ajfa-10056	138	37	in	in	ADP
ajfa-10056	138	38	a	a	DET
ajfa-10056	138	39	set	set	NOUN
ajfa-10056	138	40	of	of	ADP
ajfa-10056	138	41	9	9	NUM
ajfa-10056	138	42	(	(	PUNCT
ajfa-10056	138	43	3×3	3×3	NUM
ajfa-10056	138	44	)	)	PUNCT
ajfa-10056	138	45	regressions	regression	NOUN
ajfa-10056	138	46	are	be	AUX
ajfa-10056	138	47	zero	zero	NUM
ajfa-10056	138	48	;	;	PUNCT
ajfa-10056	138	49	|a|	|a|	NOUN
ajfa-10056	138	50	is	be	AUX
ajfa-10056	138	51	the	the	DET
ajfa-10056	138	52	average	average	ADJ
ajfa-10056	138	53	absolute	absolute	ADJ
ajfa-10056	138	54	intercept	intercept	NOUN
ajfa-10056	138	55	for	for	ADP
ajfa-10056	138	56	a	a	DET
ajfa-10056	138	57	set	set	NOUN
ajfa-10056	138	58	of	of	ADP
ajfa-10056	138	59	regressions	regression	NOUN
ajfa-10056	138	60	;	;	PUNCT
ajfa-10056	138	61	s(a	s(a	PROPN
ajfa-10056	138	62	)	)	PUNCT
ajfa-10056	138	63	is	be	AUX
ajfa-10056	138	64	the	the	DET
ajfa-10056	138	65	average	average	ADJ
ajfa-10056	138	66	standard	standard	ADJ
ajfa-10056	138	67	error	error	NOUN
ajfa-10056	138	68	of	of	ADP
ajfa-10056	138	69	the	the	DET
ajfa-10056	138	70	intercepts	intercept	NOUN
ajfa-10056	138	71	;	;	PUNCT
ajfa-10056	138	72	r2	r2	PROPN
ajfa-10056	138	73	is	be	AUX
ajfa-10056	138	74	the	the	DET
ajfa-10056	138	75	average	average	ADJ
ajfa-10056	138	76	adjusted	adjust	VERB
ajfa-10056	138	77	r2	r2	NOUN
ajfa-10056	138	78	and	and	CCONJ
ajfa-10056	138	79	sr(a	sr(a	NUM
ajfa-10056	138	80	)	)	PUNCT
ajfa-10056	138	81	is	be	AUX
ajfa-10056	138	82	the	the	DET
ajfa-10056	138	83	sharpe	sharpe	PROPN
ajfa-10056	138	84	ratio	ratio	NOUN
ajfa-10056	138	85	for	for	ADP
ajfa-10056	138	86	the	the	DET
ajfa-10056	138	87	intercepts	intercept	NOUN
ajfa-10056	138	88	.	.	PUNCT
ajfa-10056	139	1	given	give	VERB
ajfa-10056	139	2	in	in	ADP
ajfa-10056	139	3	table	table	NOUN
ajfa-10056	139	4	4	4	NUM
ajfa-10056	139	5	are	be	AUX
ajfa-10056	139	6	the	the	DET
ajfa-10056	139	7	summary	summary	NOUN
ajfa-10056	139	8	statistics	statistic	NOUN
ajfa-10056	139	9	for	for	ADP
ajfa-10056	139	10	the	the	DET
ajfa-10056	139	11	regressions	regression	NOUN
ajfa-10056	139	12	of	of	ADP
ajfa-10056	139	13	the	the	DET
ajfa-10056	139	14	9	9	NUM
ajfa-10056	139	15	size	size	NOUN
ajfa-10056	139	16	-	-	PUNCT
ajfa-10056	139	17	b	b	NOUN
ajfa-10056	139	18	/	/	SYM
ajfa-10056	139	19	m	m	NOUN
ajfa-10056	139	20	portfolios	portfolio	NOUN
ajfa-10056	139	21	.	.	PUNCT
ajfa-10056	140	1	as	as	SCONJ
ajfa-10056	140	2	the	the	DET
ajfa-10056	140	3	grs	grs	PROPN
ajfa-10056	140	4	f	f	PROPN
ajfa-10056	140	5	-	-	PUNCT
ajfa-10056	140	6	statistics	statistic	NOUN
ajfa-10056	140	7	for	for	ADP
ajfa-10056	140	8	the	the	DET
ajfa-10056	140	9	capm	capm	PROPN
ajfa-10056	140	10	regressions	regression	NOUN
ajfa-10056	140	11	are	be	AUX
ajfa-10056	140	12	6.64	6.64	NUM
ajfa-10056	140	13	and	and	CCONJ
ajfa-10056	140	14	7.54	7.54	NUM
ajfa-10056	140	15	when	when	SCONJ
ajfa-10056	140	16	financial	financial	ADJ
ajfa-10056	140	17	firms	firm	NOUN
ajfa-10056	140	18	are	be	AUX
ajfa-10056	140	19	excluded	exclude	VERB
ajfa-10056	140	20	and	and	CCONJ
ajfa-10056	140	21	included	include	VERB
ajfa-10056	140	22	respectively	respectively	ADV
ajfa-10056	140	23	,	,	PUNCT
ajfa-10056	140	24	and	and	CCONJ
ajfa-10056	140	25	as	as	SCONJ
ajfa-10056	140	26	they	they	PRON
ajfa-10056	140	27	are	be	AUX
ajfa-10056	140	28	far	far	ADV
ajfa-10056	140	29	into	into	ADP
ajfa-10056	140	30	the	the	DET
ajfa-10056	140	31	right	right	ADJ
ajfa-10056	140	32	tail	tail	NOUN
ajfa-10056	140	33	of	of	ADP
ajfa-10056	140	34	the	the	DET
ajfa-10056	140	35	relevant	relevant	ADJ
ajfa-10056	140	36	f	f	NOUN
ajfa-10056	140	37	-	-	PUNCT
ajfa-10056	140	38	distribution	distribution	NOUN
ajfa-10056	140	39	,	,	PUNCT
ajfa-10056	140	40	the	the	DET
ajfa-10056	140	41	capm	capm	PROPN
ajfa-10056	140	42	is	be	AUX
ajfa-10056	140	43	rejected	reject	VERB
ajfa-10056	140	44	.	.	PUNCT
ajfa-10056	141	1	however	however	ADV
ajfa-10056	141	2	when	when	SCONJ
ajfa-10056	141	3	shifting	shift	VERB
ajfa-10056	141	4	from	from	ADP
ajfa-10056	141	5	capm	capm	PROPN
ajfa-10056	141	6	to	to	ADP
ajfa-10056	141	7	the	the	DET
ajfa-10056	141	8	three	three	NUM
ajfa-10056	141	9	-	-	PUNCT
ajfa-10056	141	10	factor	factor	NOUN
ajfa-10056	141	11	model	model	NOUN
ajfa-10056	141	12	or	or	CCONJ
ajfa-10056	141	13	the	the	DET
ajfa-10056	141	14	four	four	NUM
ajfa-10056	141	15	-	-	PUNCT
ajfa-10056	141	16	factor	factor	NOUN
ajfa-10056	141	17	model	model	NOUN
ajfa-10056	141	18	there	there	PRON
ajfa-10056	141	19	is	be	VERB
ajfa-10056	141	20	a	a	DET
ajfa-10056	141	21	large	large	ADJ
ajfa-10056	141	22	drop	drop	NOUN
ajfa-10056	141	23	in	in	ADP
ajfa-10056	141	24	the	the	DET
ajfa-10056	141	25	grs	grs	PROPN
ajfa-10056	141	26	f	f	X
ajfa-10056	141	27	-	-	PUNCT
ajfa-10056	141	28	statistic	statistic	NOUN
ajfa-10056	141	29	and	and	CCONJ
ajfa-10056	141	30	the	the	DET
ajfa-10056	141	31	p	p	ADJ
ajfa-10056	141	32	-	-	PUNCT
ajfa-10056	141	33	value	value	NOUN
ajfa-10056	141	34	increases	increase	NOUN
ajfa-10056	141	35	.	.	PUNCT
ajfa-10056	142	1	therefore	therefore	ADV
ajfa-10056	142	2	the	the	DET
ajfa-10056	142	3	null	null	ADJ
ajfa-10056	142	4	hypothesis	hypothesis	NOUN
ajfa-10056	142	5	stating	state	VERB
ajfa-10056	142	6	that	that	SCONJ
ajfa-10056	142	7	all	all	DET
ajfa-10056	142	8	regression	regression	NOUN
ajfa-10056	142	9	intercepts	intercept	NOUN
ajfa-10056	142	10	are	be	AUX
ajfa-10056	142	11	statistically	statistically	ADV
ajfa-10056	142	12	equal	equal	ADJ
ajfa-10056	142	13	to	to	ADP
ajfa-10056	142	14	zero	zero	NUM
ajfa-10056	142	15	is	be	AUX
ajfa-10056	142	16	not	not	PART
ajfa-10056	142	17	rejected	reject	VERB
ajfa-10056	142	18	,	,	PUNCT
ajfa-10056	142	19	i.e.	i.e.	X
ajfa-10056	142	20	the	the	DET
ajfa-10056	142	21	three	three	NUM
ajfa-10056	142	22	-	-	PUNCT
ajfa-10056	142	23	factor	factor	NOUN
ajfa-10056	142	24	model	model	NOUN
ajfa-10056	142	25	and	and	CCONJ
ajfa-10056	142	26	four	four	NUM
ajfa-10056	142	27	-	-	PUNCT
ajfa-10056	142	28	factor	factor	NOUN
ajfa-10056	142	29	model	model	NOUN
ajfa-10056	142	30	are	be	AUX
ajfa-10056	142	31	accepted	accept	VERB
ajfa-10056	142	32	under	under	ADP
ajfa-10056	142	33	both	both	DET
ajfa-10056	142	34	scenarios	scenario	NOUN
ajfa-10056	142	35	.	.	PUNCT
ajfa-10056	143	1	further	far	ADV
ajfa-10056	143	2	when	when	SCONJ
ajfa-10056	143	3	moving	move	VERB
ajfa-10056	143	4	from	from	ADP
ajfa-10056	143	5	capm	capm	PROPN
ajfa-10056	143	6	to	to	ADP
ajfa-10056	143	7	the	the	DET
ajfa-10056	143	8	three	three	NUM
ajfa-10056	143	9	-	-	PUNCT
ajfa-10056	143	10	factor	factor	NOUN
ajfa-10056	143	11	and	and	CCONJ
ajfa-10056	143	12	four	four	NUM
ajfa-10056	143	13	-	-	PUNCT
ajfa-10056	143	14	factor	factor	NOUN
ajfa-10056	143	15	model	model	NOUN
ajfa-10056	143	16	,	,	PUNCT
ajfa-10056	143	17	all	all	DET
ajfa-10056	143	18	other	other	ADJ
ajfa-10056	143	19	summary	summary	NOUN
ajfa-10056	143	20	statistics	statistic	NOUN
ajfa-10056	143	21	mark	mark	VERB
ajfa-10056	143	22	a	a	DET
ajfa-10056	143	23	clear	clear	ADJ
ajfa-10056	143	24	improvement	improvement	NOUN
ajfa-10056	143	25	implying	imply	VERB
ajfa-10056	143	26	that	that	SCONJ
ajfa-10056	143	27	the	the	DET
ajfa-10056	143	28	three	three	NUM
ajfa-10056	143	29	-	-	PUNCT
ajfa-10056	143	30	factor	factor	NOUN
ajfa-10056	143	31	and	and	CCONJ
ajfa-10056	143	32	four	four	NUM
ajfa-10056	143	33	-	-	PUNCT
ajfa-10056	143	34	factor	factor	NOUN
ajfa-10056	143	35	model	model	NOUN
ajfa-10056	143	36	capture	capture	VERB
ajfa-10056	143	37	the	the	DET
ajfa-10056	143	38	cross	cross	NOUN
ajfa-10056	143	39	section	section	NOUN
ajfa-10056	143	40	of	of	ADP
ajfa-10056	143	41	average	average	ADJ
ajfa-10056	143	42	returns	return	NOUN
ajfa-10056	143	43	notably	notably	ADV
ajfa-10056	143	44	better	well	ADJ
ajfa-10056	143	45	than	than	ADP
ajfa-10056	143	46	the	the	DET
ajfa-10056	143	47	capm	capm	PROPN
ajfa-10056	143	48	.	.	PUNCT
ajfa-10056	144	1	however	however	ADV
ajfa-10056	144	2	,	,	PUNCT
ajfa-10056	144	3	the	the	DET
ajfa-10056	144	4	four	four	NUM
ajfa-10056	144	5	-	-	PUNCT
ajfa-10056	144	6	factor	factor	NOUN
ajfa-10056	144	7	model	model	NOUN
ajfa-10056	144	8	does	do	AUX
ajfa-10056	144	9	not	not	PART
ajfa-10056	144	10	perform	perform	VERB
ajfa-10056	144	11	extraordinarily	extraordinarily	ADV
ajfa-10056	144	12	better	well	ADJ
ajfa-10056	144	13	than	than	ADP
ajfa-10056	144	14	the	the	DET
ajfa-10056	144	15	three	three	NUM
ajfa-10056	144	16	-	-	PUNCT
ajfa-10056	144	17	factor	factor	NOUN
ajfa-10056	144	18	model	model	NOUN
ajfa-10056	144	19	.	.	PUNCT
ajfa-10056	145	1	when	when	SCONJ
ajfa-10056	145	2	portfolios	portfolio	NOUN
ajfa-10056	145	3	are	be	AUX
ajfa-10056	145	4	formed	form	VERB
ajfa-10056	145	5	on	on	ADP
ajfa-10056	145	6	size	size	NOUN
ajfa-10056	145	7	and	and	CCONJ
ajfa-10056	145	8	momentum	momentum	NOUN
ajfa-10056	145	9	(	(	PUNCT
ajfa-10056	145	10	table	table	NOUN
ajfa-10056	145	11	5	5	NUM
ajfa-10056	145	12	)	)	PUNCT
ajfa-10056	145	13	,	,	PUNCT
ajfa-10056	145	14	the	the	DET
ajfa-10056	145	15	results	result	NOUN
ajfa-10056	145	16	are	be	AUX
ajfa-10056	145	17	different	different	ADJ
ajfa-10056	145	18	from	from	ADP
ajfa-10056	145	19	the	the	DET
ajfa-10056	145	20	size	size	NOUN
ajfa-10056	145	21	-	-	PUNCT
ajfa-10056	145	22	b	b	NOUN
ajfa-10056	145	23	/	/	SYM
ajfa-10056	145	24	m	m	NOUN
ajfa-10056	145	25	portfolios	portfolio	NOUN
ajfa-10056	145	26	in	in	ADP
ajfa-10056	145	27	two	two	NUM
ajfa-10056	145	28	aspects	aspect	NOUN
ajfa-10056	145	29	.	.	PUNCT
ajfa-10056	146	1	firstly	firstly	ADV
ajfa-10056	146	2	,	,	PUNCT
ajfa-10056	146	3	all	all	DET
ajfa-10056	146	4	three	three	NUM
ajfa-10056	146	5	models	model	NOUN
ajfa-10056	146	6	are	be	AUX
ajfa-10056	146	7	to	to	PART
ajfa-10056	146	8	be	be	AUX
ajfa-10056	146	9	accepted	accept	VERB
ajfa-10056	146	10	based	base	VERB
ajfa-10056	146	11	on	on	ADP
ajfa-10056	146	12	the	the	DET
ajfa-10056	146	13	grs	grs	PROPN
ajfa-10056	146	14	f	f	X
ajfa-10056	146	15	-	-	PUNCT
ajfa-10056	146	16	test	test	NOUN
ajfa-10056	146	17	,	,	PUNCT
ajfa-10056	146	18	as	as	SCONJ
ajfa-10056	146	19	the	the	DET
ajfa-10056	146	20	p	p	NOUN
ajfa-10056	146	21	-	-	PUNCT
ajfa-10056	146	22	values	value	NOUN
ajfa-10056	146	23	of	of	ADP
ajfa-10056	146	24	the	the	DET
ajfa-10056	146	25	respective	respective	ADJ
ajfa-10056	146	26	f	f	NOUN
ajfa-10056	146	27	-	-	PUNCT
ajfa-10056	146	28	statistics	statistic	NOUN
ajfa-10056	146	29	are	be	AUX
ajfa-10056	146	30	higher	high	ADJ
ajfa-10056	146	31	than	than	ADP
ajfa-10056	146	32	0.05	0.05	NUM
ajfa-10056	146	33	.	.	PUNCT
ajfa-10056	147	1	secondly	secondly	ADV
ajfa-10056	147	2	,	,	PUNCT
ajfa-10056	147	3	the	the	DET
ajfa-10056	147	4	four	four	NUM
ajfa-10056	147	5	-	-	PUNCT
ajfa-10056	147	6	factor	factor	NOUN
ajfa-10056	147	7	model	model	NOUN
ajfa-10056	147	8	turns	turn	VERB
ajfa-10056	147	9	out	out	ADP
ajfa-10056	147	10	to	to	PART
ajfa-10056	147	11	be	be	AUX
ajfa-10056	147	12	indisputably	indisputably	ADV
ajfa-10056	147	13	the	the	DET
ajfa-10056	147	14	superior	superior	ADJ
ajfa-10056	147	15	model	model	NOUN
ajfa-10056	147	16	compared	compare	VERB
ajfa-10056	147	17	to	to	ADP
ajfa-10056	147	18	both	both	DET
ajfa-10056	147	19	the	the	DET
ajfa-10056	147	20	capm	capm	PROPN
ajfa-10056	147	21	and	and	CCONJ
ajfa-10056	147	22	the	the	DET
ajfa-10056	147	23	three	three	NUM
ajfa-10056	147	24	-	-	PUNCT
ajfa-10056	147	25	factor	factor	NOUN
ajfa-10056	147	26	model	model	NOUN
ajfa-10056	147	27	,	,	PUNCT
ajfa-10056	147	28	as	as	SCONJ
ajfa-10056	147	29	the	the	DET
ajfa-10056	147	30	grs	grs	PROPN
ajfa-10056	147	31	f	f	X
ajfa-10056	147	32	-	-	PUNCT
ajfa-10056	147	33	statistic	statistic	NOUN
ajfa-10056	147	34	is	be	AUX
ajfa-10056	147	35	clearly	clearly	ADV
ajfa-10056	147	36	lower	low	ADJ
ajfa-10056	147	37	for	for	ADP
ajfa-10056	147	38	the	the	DET
ajfa-10056	147	39	four	four	NUM
ajfa-10056	147	40	-	-	PUNCT
ajfa-10056	147	41	factor	factor	NOUN
ajfa-10056	147	42	model	model	NOUN
ajfa-10056	147	43	and	and	CCONJ
ajfa-10056	147	44	its	its	PRON
ajfa-10056	147	45	p	p	NOUN
ajfa-10056	147	46	-	-	PUNCT
ajfa-10056	147	47	value	value	NOUN
ajfa-10056	147	48	is	be	AUX
ajfa-10056	147	49	higher	high	ADJ
ajfa-10056	147	50	than	than	ADP
ajfa-10056	147	51	the	the	DET
ajfa-10056	147	52	other	other	ADJ
ajfa-10056	147	53	two	two	NUM
ajfa-10056	147	54	models	model	NOUN
ajfa-10056	147	55	.	.	PUNCT
ajfa-10056	148	1	further	far	ADV
ajfa-10056	148	2	the	the	DET
ajfa-10056	148	3	adjusted	adjusted	ADJ
ajfa-10056	148	4	r2	r2	NOUN
ajfa-10056	148	5	and	and	CCONJ
ajfa-10056	148	6	sr(a	sr(a	ADJ
ajfa-10056	148	7	)	)	PUNCT
ajfa-10056	148	8	grs	grs	NUM
ajfa-10056	148	9	test	test	NOUN
ajfa-10056	148	10	|a|	|a|	PROPN
ajfa-10056	148	11	r2	r2	PROPN
ajfa-10056	148	12	s(a	s(a	PROPN
ajfa-10056	148	13	)	)	PUNCT
ajfa-10056	148	14	sr(a	sr(a	PUNCT
ajfa-10056	149	1	f	f	X
ajfa-10056	149	2	-	-	PUNCT
ajfa-10056	149	3	stat	stat	NOUN
ajfa-10056	149	4	p	p	NOUN
ajfa-10056	149	5	excluding	exclude	VERB
ajfa-10056	149	6	finance	finance	NOUN
ajfa-10056	149	7	capm	capm	NOUN
ajfa-10056	149	8	6.64	6.64	NUM
ajfa-10056	149	9	*	*	NUM
ajfa-10056	149	10	0.00	0.00	NUM
ajfa-10056	149	11	0.29	0.29	NUM
ajfa-10056	149	12	0.67	0.67	NUM
ajfa-10056	149	13	0.11	0.11	NUM
ajfa-10056	149	14	0.62	0.62	NUM
ajfa-10056	149	15	three	three	NUM
ajfa-10056	149	16	-	-	PUNCT
ajfa-10056	149	17	factor	factor	NOUN
ajfa-10056	149	18	1.04	1.04	NUM
ajfa-10056	149	19	0.41	0.41	NUM
ajfa-10056	149	20	0.30	0.30	NUM
ajfa-10056	149	21	0.75	0.75	NUM
ajfa-10056	149	22	0.08	0.08	NUM
ajfa-10056	149	23	0.25	0.25	NUM
ajfa-10056	149	24	four	four	NUM
ajfa-10056	149	25	-	-	PUNCT
ajfa-10056	149	26	factor	factor	NOUN
ajfa-10056	149	27	0.81	0.81	NUM
ajfa-10056	149	28	0.61	0.61	NUM
ajfa-10056	149	29	0.30	0.30	NUM
ajfa-10056	149	30	0.74	0.74	NUM
ajfa-10056	149	31	0.09	0.09	NUM
ajfa-10056	149	32	0.22	0.22	NUM
ajfa-10056	149	33	all	all	DET
ajfa-10056	149	34	companies	company	NOUN
ajfa-10056	149	35	capm	capm	NOUN
ajfa-10056	149	36	7.54	7.54	NUM
ajfa-10056	149	37	*	*	NUM
ajfa-10056	149	38	0.00	0.00	NUM
ajfa-10056	149	39	0.31	0.31	NUM
ajfa-10056	149	40	0.71	0.71	NUM
ajfa-10056	149	41	0.14	0.14	NUM
ajfa-10056	149	42	0.66	0.66	NUM
ajfa-10056	149	43	three	three	NUM
ajfa-10056	149	44	-	-	PUNCT
ajfa-10056	149	45	factor	factor	NOUN
ajfa-10056	149	46	0.77	0.77	NUM
ajfa-10056	149	47	0.64	0.64	NUM
ajfa-10056	149	48	0.24	0.24	NUM
ajfa-10056	149	49	0.80	0.80	NUM
ajfa-10056	149	50	0.08	0.08	NUM
ajfa-10056	149	51	0.21	0.21	NUM
ajfa-10056	149	52	four	four	NUM
ajfa-10056	149	53	-	-	PUNCT
ajfa-10056	149	54	factor	factor	NOUN
ajfa-10056	149	55	0.76	0.76	NUM
ajfa-10056	149	56	0.66	0.66	NUM
ajfa-10056	149	57	0.23	0.23	NUM
ajfa-10056	149	58	0.81	0.81	NUM
ajfa-10056	149	59	0.08	0.08	NUM
ajfa-10056	149	60	0.21	0.21	NUM
ajfa-10056	149	61	asian	asian	ADJ
ajfa-10056	149	62	journal	journal	NOUN
ajfa-10056	149	63	of	of	ADP
ajfa-10056	149	64	finance	finance	PROPN
ajfa-10056	149	65	&	&	CCONJ
ajfa-10056	149	66	accounting	accounting	PROPN
ajfa-10056	149	67	issn	issn	PROPN
ajfa-10056	149	68	1946	1946	NUM
ajfa-10056	149	69	-	-	PUNCT
ajfa-10056	149	70	052x	052x	PROPN
ajfa-10056	149	71	2016	2016	NUM
ajfa-10056	149	72	,	,	PUNCT
ajfa-10056	149	73	vol	vol	NOUN
ajfa-10056	149	74	.	.	PROPN
ajfa-10056	149	75	8	8	NUM
ajfa-10056	149	76	,	,	PUNCT
ajfa-10056	149	77	no	no	INTJ
ajfa-10056	149	78	.	.	NOUN
ajfa-10056	149	79	2	2	NUM
ajfa-10056	149	80	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10056	149	81	122	122	NUM
ajfa-10056	149	82	improve	improve	VERB
ajfa-10056	149	83	in	in	ADP
ajfa-10056	149	84	favor	favor	NOUN
ajfa-10056	149	85	of	of	ADP
ajfa-10056	149	86	the	the	DET
ajfa-10056	149	87	four	four	NUM
ajfa-10056	149	88	-	-	PUNCT
ajfa-10056	149	89	factor	factor	NOUN
ajfa-10056	149	90	model	model	NOUN
ajfa-10056	149	91	when	when	SCONJ
ajfa-10056	149	92	moving	move	VERB
ajfa-10056	149	93	from	from	ADP
ajfa-10056	149	94	capm	capm	PROPN
ajfa-10056	149	95	and	and	CCONJ
ajfa-10056	149	96	the	the	DET
ajfa-10056	149	97	three	three	NUM
ajfa-10056	149	98	-	-	PUNCT
ajfa-10056	149	99	factor	factor	NOUN
ajfa-10056	149	100	model	model	NOUN
ajfa-10056	149	101	to	to	ADP
ajfa-10056	149	102	the	the	DET
ajfa-10056	149	103	four	four	NUM
ajfa-10056	149	104	-	-	PUNCT
ajfa-10056	149	105	factor	factor	NOUN
ajfa-10056	149	106	model	model	NOUN
ajfa-10056	149	107	.	.	PUNCT
ajfa-10056	150	1	table	table	NOUN
ajfa-10056	150	2	5	5	NUM
ajfa-10056	150	3	.	.	PUNCT
ajfa-10056	151	1	summary	summary	NOUN
ajfa-10056	151	2	statistics	statistic	NOUN
ajfa-10056	151	3	for	for	ADP
ajfa-10056	151	4	regressions	regression	NOUN
ajfa-10056	151	5	to	to	PART
ajfa-10056	151	6	explain	explain	VERB
ajfa-10056	151	7	excess	excess	ADJ
ajfa-10056	151	8	returns	return	NOUN
ajfa-10056	151	9	on	on	ADP
ajfa-10056	151	10	the	the	DET
ajfa-10056	151	11	9	9	NUM
ajfa-10056	151	12	size	size	NOUN
ajfa-10056	151	13	-	-	PUNCT
ajfa-10056	151	14	momentum	momentum	NOUN
ajfa-10056	151	15	portfolios	portfolio	NOUN
ajfa-10056	151	16	the	the	DET
ajfa-10056	151	17	section	section	NOUN
ajfa-10056	151	18	on	on	ADP
ajfa-10056	151	19	excluding	exclude	VERB
ajfa-10056	151	20	finance	finance	NOUN
ajfa-10056	151	21	is	be	AUX
ajfa-10056	151	22	extracted	extract	VERB
ajfa-10056	151	23	from	from	ADP
ajfa-10056	151	24	abeysekera	abeysekera	NOUN
ajfa-10056	151	25	and	and	CCONJ
ajfa-10056	151	26	nimal	nimal	PROPN
ajfa-10056	151	27	(	(	PUNCT
ajfa-10056	151	28	2016	2016	NUM
ajfa-10056	151	29	)	)	PUNCT
ajfa-10056	151	30	for	for	ADP
ajfa-10056	151	31	comparison	comparison	NOUN
ajfa-10056	151	32	purpose	purpose	NOUN
ajfa-10056	151	33	.	.	PUNCT
ajfa-10056	152	1	the	the	DET
ajfa-10056	152	2	regressions	regression	NOUN
ajfa-10056	152	3	use	use	VERB
ajfa-10056	152	4	the	the	DET
ajfa-10056	152	5	capm	capm	NOUN
ajfa-10056	152	6	,	,	PUNCT
ajfa-10056	152	7	three	three	NUM
ajfa-10056	152	8	-	-	PUNCT
ajfa-10056	152	9	factor	factor	NOUN
ajfa-10056	152	10	and	and	CCONJ
ajfa-10056	152	11	four	four	NUM
ajfa-10056	152	12	-	-	PUNCT
ajfa-10056	152	13	factor	factor	NOUN
ajfa-10056	152	14	models	model	NOUN
ajfa-10056	152	15	to	to	PART
ajfa-10056	152	16	explain	explain	VERB
ajfa-10056	152	17	the	the	DET
ajfa-10056	152	18	returns	return	NOUN
ajfa-10056	152	19	on	on	ADP
ajfa-10056	152	20	portfolios	portfolio	NOUN
ajfa-10056	152	21	formed	form	VERB
ajfa-10056	152	22	on	on	ADP
ajfa-10056	152	23	size	size	NOUN
ajfa-10056	152	24	and	and	CCONJ
ajfa-10056	152	25	momentum	momentum	NOUN
ajfa-10056	152	26	.	.	PUNCT
ajfa-10056	153	1	the	the	DET
ajfa-10056	153	2	grs	grs	NUM
ajfa-10056	153	3	f	f	X
ajfa-10056	153	4	-	-	PUNCT
ajfa-10056	153	5	statistic	statistic	NOUN
ajfa-10056	153	6	tests	test	NOUN
ajfa-10056	153	7	whether	whether	SCONJ
ajfa-10056	153	8	all	all	DET
ajfa-10056	153	9	intercepts	intercept	NOUN
ajfa-10056	153	10	in	in	ADP
ajfa-10056	153	11	a	a	DET
ajfa-10056	153	12	set	set	NOUN
ajfa-10056	153	13	of	of	ADP
ajfa-10056	153	14	9	9	NUM
ajfa-10056	153	15	(	(	PUNCT
ajfa-10056	153	16	3×3	3×3	NUM
ajfa-10056	153	17	)	)	PUNCT
ajfa-10056	153	18	regressions	regression	NOUN
ajfa-10056	153	19	are	be	AUX
ajfa-10056	153	20	zero	zero	NUM
ajfa-10056	153	21	;	;	PUNCT
ajfa-10056	153	22	|a|	|a|	NOUN
ajfa-10056	153	23	is	be	AUX
ajfa-10056	153	24	the	the	DET
ajfa-10056	153	25	average	average	ADJ
ajfa-10056	153	26	absolute	absolute	ADJ
ajfa-10056	153	27	intercept	intercept	NOUN
ajfa-10056	153	28	for	for	ADP
ajfa-10056	153	29	a	a	DET
ajfa-10056	153	30	set	set	NOUN
ajfa-10056	153	31	of	of	ADP
ajfa-10056	153	32	regressions	regression	NOUN
ajfa-10056	153	33	;	;	PUNCT
ajfa-10056	153	34	s(a	s(a	PROPN
ajfa-10056	153	35	)	)	PUNCT
ajfa-10056	153	36	is	be	AUX
ajfa-10056	153	37	the	the	DET
ajfa-10056	153	38	average	average	ADJ
ajfa-10056	153	39	standard	standard	ADJ
ajfa-10056	153	40	error	error	NOUN
ajfa-10056	153	41	of	of	ADP
ajfa-10056	153	42	the	the	DET
ajfa-10056	153	43	intercepts	intercept	NOUN
ajfa-10056	153	44	;	;	PUNCT
ajfa-10056	153	45	r2	r2	PROPN
ajfa-10056	153	46	is	be	AUX
ajfa-10056	153	47	the	the	DET
ajfa-10056	153	48	average	average	ADJ
ajfa-10056	153	49	adjusted	adjust	VERB
ajfa-10056	153	50	r2	r2	NOUN
ajfa-10056	153	51	and	and	CCONJ
ajfa-10056	153	52	sr(a	sr(a	NUM
ajfa-10056	153	53	)	)	PUNCT
ajfa-10056	153	54	is	be	AUX
ajfa-10056	153	55	the	the	DET
ajfa-10056	153	56	sharpe	sharpe	PROPN
ajfa-10056	153	57	ratio	ratio	NOUN
ajfa-10056	153	58	for	for	ADP
ajfa-10056	153	59	the	the	DET
ajfa-10056	153	60	intercepts	intercept	NOUN
ajfa-10056	153	61	.	.	PUNCT
ajfa-10056	154	1	7	7	X
ajfa-10056	154	2	.	.	X
ajfa-10056	154	3	summary	summary	NOUN
ajfa-10056	154	4	and	and	CCONJ
ajfa-10056	154	5	conclusions	conclusion	NOUN
ajfa-10056	154	6	this	this	DET
ajfa-10056	154	7	study	study	NOUN
ajfa-10056	154	8	investigates	investigate	VERB
ajfa-10056	154	9	whether	whether	SCONJ
ajfa-10056	154	10	the	the	DET
ajfa-10056	154	11	inclusion	inclusion	NOUN
ajfa-10056	154	12	of	of	ADP
ajfa-10056	154	13	the	the	DET
ajfa-10056	154	14	financial	financial	ADJ
ajfa-10056	154	15	sector	sector	NOUN
ajfa-10056	154	16	would	would	AUX
ajfa-10056	154	17	have	have	VERB
ajfa-10056	154	18	any	any	DET
ajfa-10056	154	19	bearing	bearing	NOUN
ajfa-10056	154	20	on	on	ADP
ajfa-10056	154	21	the	the	DET
ajfa-10056	154	22	inferences	inference	NOUN
ajfa-10056	154	23	drawn	draw	VERB
ajfa-10056	154	24	from	from	ADP
ajfa-10056	154	25	asset	asset	NOUN
ajfa-10056	154	26	pricing	pricing	NOUN
ajfa-10056	154	27	tests	test	NOUN
ajfa-10056	154	28	done	do	VERB
ajfa-10056	154	29	with	with	ADP
ajfa-10056	154	30	regard	regard	NOUN
ajfa-10056	154	31	to	to	ADP
ajfa-10056	154	32	the	the	DET
ajfa-10056	154	33	cse	cse	NOUN
ajfa-10056	154	34	.	.	PUNCT
ajfa-10056	155	1	it	it	PRON
ajfa-10056	155	2	uses	use	VERB
ajfa-10056	155	3	monthly	monthly	ADJ
ajfa-10056	155	4	stock	stock	NOUN
ajfa-10056	155	5	return	return	NOUN
ajfa-10056	155	6	data	datum	NOUN
ajfa-10056	155	7	from	from	ADP
ajfa-10056	155	8	october	october	PROPN
ajfa-10056	155	9	1997	1997	NUM
ajfa-10056	155	10	to	to	ADP
ajfa-10056	155	11	september	september	PROPN
ajfa-10056	155	12	2012	2012	NUM
ajfa-10056	155	13	,	,	PUNCT
ajfa-10056	155	14	and	and	CCONJ
ajfa-10056	155	15	all	all	DET
ajfa-10056	155	16	tests	test	NOUN
ajfa-10056	155	17	are	be	AUX
ajfa-10056	155	18	done	do	VERB
ajfa-10056	155	19	for	for	ADP
ajfa-10056	155	20	a	a	DET
ajfa-10056	155	21	sample	sample	NOUN
ajfa-10056	155	22	excluding	exclude	VERB
ajfa-10056	155	23	the	the	DET
ajfa-10056	155	24	financial	financial	ADJ
ajfa-10056	155	25	sector	sector	NOUN
ajfa-10056	155	26	as	as	ADV
ajfa-10056	155	27	well	well	ADV
ajfa-10056	155	28	as	as	ADP
ajfa-10056	155	29	for	for	ADP
ajfa-10056	155	30	the	the	DET
ajfa-10056	155	31	entire	entire	ADJ
ajfa-10056	155	32	population	population	NOUN
ajfa-10056	155	33	of	of	ADP
ajfa-10056	155	34	firms	firm	NOUN
ajfa-10056	155	35	listed	list	VERB
ajfa-10056	155	36	in	in	ADP
ajfa-10056	155	37	the	the	DET
ajfa-10056	155	38	cse	cse	NOUN
ajfa-10056	155	39	(	(	PUNCT
ajfa-10056	155	40	including	include	VERB
ajfa-10056	155	41	the	the	DET
ajfa-10056	155	42	financial	financial	ADJ
ajfa-10056	155	43	sector	sector	NOUN
ajfa-10056	155	44	)	)	PUNCT
ajfa-10056	155	45	.	.	PUNCT
ajfa-10056	156	1	the	the	DET
ajfa-10056	156	2	factor	factor	NOUN
ajfa-10056	156	3	mimicking	mimic	VERB
ajfa-10056	156	4	portfolio	portfolio	NOUN
ajfa-10056	156	5	approach	approach	NOUN
ajfa-10056	156	6	of	of	ADP
ajfa-10056	156	7	fama	fama	PROPN
ajfa-10056	156	8	and	and	CCONJ
ajfa-10056	156	9	french	french	ADJ
ajfa-10056	156	10	(	(	PUNCT
ajfa-10056	156	11	1996	1996	NUM
ajfa-10056	156	12	,	,	PUNCT
ajfa-10056	156	13	2012	2012	NUM
ajfa-10056	156	14	)	)	PUNCT
ajfa-10056	156	15	is	be	AUX
ajfa-10056	156	16	applied	apply	VERB
ajfa-10056	156	17	in	in	ADP
ajfa-10056	156	18	this	this	DET
ajfa-10056	156	19	study	study	NOUN
ajfa-10056	156	20	;	;	PUNCT
ajfa-10056	156	21	portfolios	portfolio	NOUN
ajfa-10056	156	22	are	be	AUX
ajfa-10056	156	23	formed	form	VERB
ajfa-10056	156	24	based	base	VERB
ajfa-10056	156	25	on	on	ADP
ajfa-10056	156	26	size	size	NOUN
ajfa-10056	156	27	and	and	CCONJ
ajfa-10056	156	28	b	b	NOUN
ajfa-10056	156	29	/	/	SYM
ajfa-10056	156	30	m	m	PROPN
ajfa-10056	156	31	,	,	PUNCT
ajfa-10056	156	32	as	as	ADV
ajfa-10056	156	33	well	well	ADV
ajfa-10056	156	34	as	as	ADP
ajfa-10056	156	35	on	on	ADP
ajfa-10056	156	36	size	size	NOUN
ajfa-10056	156	37	and	and	CCONJ
ajfa-10056	156	38	momentum	momentum	NOUN
ajfa-10056	156	39	.	.	PUNCT
ajfa-10056	157	1	the	the	DET
ajfa-10056	157	2	study	study	NOUN
ajfa-10056	157	3	focuses	focus	VERB
ajfa-10056	157	4	largely	largely	ADV
ajfa-10056	157	5	on	on	ADP
ajfa-10056	157	6	the	the	DET
ajfa-10056	157	7	carhart	carhart	NOUN
ajfa-10056	157	8	(	(	PUNCT
ajfa-10056	157	9	1997	1997	NUM
ajfa-10056	157	10	)	)	PUNCT
ajfa-10056	157	11	four	four	NUM
ajfa-10056	157	12	-	-	PUNCT
ajfa-10056	157	13	factor	factor	NOUN
ajfa-10056	157	14	model	model	NOUN
ajfa-10056	157	15	.	.	PUNCT
ajfa-10056	158	1	in	in	ADP
ajfa-10056	158	2	order	order	NOUN
ajfa-10056	158	3	to	to	PART
ajfa-10056	158	4	test	test	VERB
ajfa-10056	158	5	the	the	DET
ajfa-10056	158	6	ability	ability	NOUN
ajfa-10056	158	7	of	of	ADP
ajfa-10056	158	8	the	the	DET
ajfa-10056	158	9	four	four	NUM
ajfa-10056	158	10	-	-	PUNCT
ajfa-10056	158	11	factor	factor	NOUN
ajfa-10056	158	12	model	model	NOUN
ajfa-10056	158	13	in	in	ADP
ajfa-10056	158	14	explaining	explain	VERB
ajfa-10056	158	15	the	the	DET
ajfa-10056	158	16	average	average	ADJ
ajfa-10056	158	17	stock	stock	NOUN
ajfa-10056	158	18	returns	return	NOUN
ajfa-10056	158	19	and	and	CCONJ
ajfa-10056	158	20	to	to	PART
ajfa-10056	158	21	evaluate	evaluate	VERB
ajfa-10056	158	22	its	its	PRON
ajfa-10056	158	23	performance	performance	NOUN
ajfa-10056	158	24	in	in	ADP
ajfa-10056	158	25	comparison	comparison	NOUN
ajfa-10056	158	26	with	with	ADP
ajfa-10056	158	27	the	the	DET
ajfa-10056	158	28	capm	capm	NOUN
ajfa-10056	158	29	and	and	CCONJ
ajfa-10056	158	30	the	the	DET
ajfa-10056	158	31	three	three	NUM
ajfa-10056	158	32	-	-	PUNCT
ajfa-10056	158	33	factor	factor	NOUN
ajfa-10056	158	34	model	model	NOUN
ajfa-10056	158	35	;	;	PUNCT
ajfa-10056	158	36	the	the	DET
ajfa-10056	158	37	adjusted	adjusted	ADJ
ajfa-10056	158	38	r2	r2	NOUN
ajfa-10056	158	39	,	,	PUNCT
ajfa-10056	158	40	grs	grs	PROPN
ajfa-10056	158	41	f	f	NOUN
ajfa-10056	158	42	-	-	PUNCT
ajfa-10056	158	43	test	test	NOUN
ajfa-10056	158	44	and	and	CCONJ
ajfa-10056	158	45	the	the	DET
ajfa-10056	158	46	sharpe	sharpe	PROPN
ajfa-10056	158	47	ratio	ratio	NOUN
ajfa-10056	158	48	for	for	ADP
ajfa-10056	158	49	the	the	DET
ajfa-10056	158	50	intercepts	intercept	NOUN
ajfa-10056	158	51	are	be	AUX
ajfa-10056	158	52	used	use	VERB
ajfa-10056	158	53	.	.	PUNCT
ajfa-10056	159	1	the	the	DET
ajfa-10056	159	2	study	study	NOUN
ajfa-10056	159	3	finds	find	VERB
ajfa-10056	159	4	that	that	SCONJ
ajfa-10056	159	5	the	the	DET
ajfa-10056	159	6	inclusion	inclusion	NOUN
ajfa-10056	159	7	of	of	ADP
ajfa-10056	159	8	the	the	DET
ajfa-10056	159	9	financial	financial	ADJ
ajfa-10056	159	10	sector	sector	NOUN
ajfa-10056	159	11	does	do	AUX
ajfa-10056	159	12	not	not	PART
ajfa-10056	159	13	alter	alter	VERB
ajfa-10056	159	14	the	the	DET
ajfa-10056	159	15	conclusions	conclusion	NOUN
ajfa-10056	159	16	arrived	arrive	VERB
ajfa-10056	159	17	at	at	ADP
ajfa-10056	159	18	when	when	SCONJ
ajfa-10056	159	19	the	the	DET
ajfa-10056	159	20	financial	financial	ADJ
ajfa-10056	159	21	sector	sector	NOUN
ajfa-10056	159	22	was	be	AUX
ajfa-10056	159	23	excluded	exclude	VERB
ajfa-10056	159	24	.	.	PUNCT
ajfa-10056	160	1	clear	clear	ADJ
ajfa-10056	160	2	size	size	NOUN
ajfa-10056	160	3	,	,	PUNCT
ajfa-10056	160	4	value	value	NOUN
ajfa-10056	160	5	and	and	CCONJ
ajfa-10056	160	6	momentum	momentum	NOUN
ajfa-10056	160	7	patterns	pattern	NOUN
ajfa-10056	160	8	were	be	AUX
ajfa-10056	160	9	seen	see	VERB
ajfa-10056	160	10	when	when	SCONJ
ajfa-10056	160	11	observing	observe	VERB
ajfa-10056	160	12	the	the	DET
ajfa-10056	160	13	loadings	loading	NOUN
ajfa-10056	160	14	or	or	CCONJ
ajfa-10056	160	15	coefficients	coefficient	NOUN
ajfa-10056	160	16	generated	generate	VERB
ajfa-10056	160	17	via	via	ADP
ajfa-10056	160	18	the	the	DET
ajfa-10056	160	19	regressions	regression	NOUN
ajfa-10056	160	20	excluding	exclude	VERB
ajfa-10056	160	21	and	and	CCONJ
ajfa-10056	160	22	including	include	VERB
ajfa-10056	160	23	the	the	DET
ajfa-10056	160	24	financial	financial	ADJ
ajfa-10056	160	25	sector	sector	NOUN
ajfa-10056	160	26	.	.	PUNCT
ajfa-10056	161	1	further	far	ADV
ajfa-10056	161	2	most	most	ADJ
ajfa-10056	161	3	of	of	ADP
ajfa-10056	161	4	the	the	DET
ajfa-10056	161	5	coefficients	coefficient	NOUN
ajfa-10056	161	6	were	be	AUX
ajfa-10056	161	7	statistically	statistically	ADV
ajfa-10056	161	8	significant	significant	ADJ
ajfa-10056	161	9	and	and	CCONJ
ajfa-10056	161	10	most	most	ADJ
ajfa-10056	161	11	of	of	ADP
ajfa-10056	161	12	the	the	DET
ajfa-10056	161	13	intercepts	intercept	NOUN
ajfa-10056	161	14	were	be	AUX
ajfa-10056	161	15	statistically	statistically	ADV
ajfa-10056	161	16	insignificant	insignificant	ADJ
ajfa-10056	161	17	.	.	PUNCT
ajfa-10056	162	1	these	these	DET
ajfa-10056	162	2	results	result	NOUN
ajfa-10056	162	3	strengthen	strengthen	VERB
ajfa-10056	162	4	barber	barber	PROPN
ajfa-10056	162	5	and	and	CCONJ
ajfa-10056	162	6	lyon	lyon	PROPN
ajfa-10056	162	7	’s	’s	PART
ajfa-10056	162	8	(	(	PUNCT
ajfa-10056	162	9	1997	1997	NUM
ajfa-10056	162	10	)	)	PUNCT
ajfa-10056	162	11	findings	finding	NOUN
ajfa-10056	162	12	where	where	SCONJ
ajfa-10056	162	13	they	they	PRON
ajfa-10056	162	14	conclude	conclude	VERB
ajfa-10056	162	15	that	that	DET
ajfa-10056	162	16	size	size	NOUN
ajfa-10056	162	17	and	and	CCONJ
ajfa-10056	162	18	b	b	X
ajfa-10056	162	19	/	/	SYM
ajfa-10056	162	20	m	m	NOUN
ajfa-10056	162	21	ratios	ratio	NOUN
ajfa-10056	162	22	have	have	VERB
ajfa-10056	162	23	similar	similar	ADJ
ajfa-10056	162	24	meanings	meaning	NOUN
ajfa-10056	162	25	for	for	ADP
ajfa-10056	162	26	both	both	CCONJ
ajfa-10056	162	27	financial	financial	ADJ
ajfa-10056	162	28	and	and	CCONJ
ajfa-10056	162	29	non	non	ADJ
ajfa-10056	162	30	-	-	ADJ
ajfa-10056	162	31	financial	financial	ADJ
ajfa-10056	162	32	firms	firm	NOUN
ajfa-10056	162	33	.	.	PUNCT
ajfa-10056	163	1	the	the	DET
ajfa-10056	163	2	four	four	NUM
ajfa-10056	163	3	-	-	PUNCT
ajfa-10056	163	4	factor	factor	NOUN
ajfa-10056	163	5	model	model	NOUN
ajfa-10056	163	6	is	be	AUX
ajfa-10056	163	7	not	not	PART
ajfa-10056	163	8	rejected	reject	VERB
ajfa-10056	163	9	in	in	ADP
ajfa-10056	163	10	either	either	DET
ajfa-10056	163	11	scenario	scenario	NOUN
ajfa-10056	163	12	but	but	CCONJ
ajfa-10056	163	13	is	be	AUX
ajfa-10056	163	14	found	find	VERB
ajfa-10056	163	15	to	to	PART
ajfa-10056	163	16	perform	perform	VERB
ajfa-10056	163	17	notably	notably	ADV
ajfa-10056	163	18	better	well	ADJ
ajfa-10056	163	19	than	than	ADP
ajfa-10056	163	20	the	the	DET
ajfa-10056	163	21	capm	capm	PROPN
ajfa-10056	163	22	and	and	CCONJ
ajfa-10056	163	23	three	three	NUM
ajfa-10056	163	24	-	-	PUNCT
ajfa-10056	163	25	factor	factor	NOUN
ajfa-10056	163	26	model	model	NOUN
ajfa-10056	163	27	in	in	ADP
ajfa-10056	163	28	the	the	DET
ajfa-10056	163	29	size	size	NOUN
ajfa-10056	163	30	-	-	PUNCT
ajfa-10056	163	31	momentum	momentum	NOUN
ajfa-10056	163	32	portfolios	portfolio	NOUN
ajfa-10056	163	33	.	.	PUNCT
ajfa-10056	164	1	however	however	ADV
ajfa-10056	164	2	,	,	PUNCT
ajfa-10056	164	3	the	the	DET
ajfa-10056	164	4	results	result	NOUN
ajfa-10056	164	5	of	of	ADP
ajfa-10056	164	6	the	the	DET
ajfa-10056	164	7	current	current	ADJ
ajfa-10056	164	8	study	study	NOUN
ajfa-10056	164	9	contrast	contrast	NOUN
ajfa-10056	164	10	with	with	ADP
ajfa-10056	164	11	foerster	foerster	PROPN
ajfa-10056	164	12	grs	grs	PROPN
ajfa-10056	164	13	test	test	NOUN
ajfa-10056	164	14	|a|	|a|	PROPN
ajfa-10056	164	15	r2	r2	PROPN
ajfa-10056	164	16	s(a	s(a	PROPN
ajfa-10056	164	17	)	)	PUNCT
ajfa-10056	164	18	sr(a	sr(a	PUNCT
ajfa-10056	164	19	)	)	PUNCT
ajfa-10056	164	20	f	f	X
ajfa-10056	164	21	-	-	PUNCT
ajfa-10056	164	22	stat	stat	NOUN
ajfa-10056	164	23	p	p	NOUN
ajfa-10056	164	24	excluding	exclude	VERB
ajfa-10056	164	25	finance	finance	NOUN
ajfa-10056	164	26	capm	capm	PROPN
ajfa-10056	164	27	1.36	1.36	NUM
ajfa-10056	164	28	0.21	0.21	NUM
ajfa-10056	164	29	0.24	0.24	NUM
ajfa-10056	164	30	0.66	0.66	NUM
ajfa-10056	164	31	0.09	0.09	NUM
ajfa-10056	164	32	0.28	0.28	NUM
ajfa-10056	164	33	three	three	NUM
ajfa-10056	164	34	-	-	PUNCT
ajfa-10056	164	35	factor	factor	NOUN
ajfa-10056	164	36	1.18	1.18	NUM
ajfa-10056	164	37	0.31	0.31	NUM
ajfa-10056	164	38	0.38	0.38	NUM
ajfa-10056	164	39	0.72	0.72	NUM
ajfa-10056	164	40	0.08	0.08	NUM
ajfa-10056	164	41	0.27	0.27	NUM
ajfa-10056	164	42	four	four	NUM
ajfa-10056	164	43	-	-	PUNCT
ajfa-10056	164	44	factor	factor	NOUN
ajfa-10056	165	1	0.83	0.83	NUM
ajfa-10056	165	2	0.59	0.59	NUM
ajfa-10056	165	3	0.37	0.37	NUM
ajfa-10056	165	4	0.76	0.76	NUM
ajfa-10056	165	5	0.09	0.09	NUM
ajfa-10056	165	6	0.22	0.22	NUM
ajfa-10056	165	7	all	all	DET
ajfa-10056	165	8	companies	company	NOUN
ajfa-10056	165	9	capm	capm	PROPN
ajfa-10056	165	10	1.25	1.25	NUM
ajfa-10056	165	11	0.27	0.27	NUM
ajfa-10056	165	12	0.25	0.25	NUM
ajfa-10056	165	13	0.70	0.70	NUM
ajfa-10056	165	14	0.07	0.07	NUM
ajfa-10056	165	15	0.27	0.27	NUM
ajfa-10056	165	16	three	three	NUM
ajfa-10056	165	17	-	-	PUNCT
ajfa-10056	165	18	factor	factor	NOUN
ajfa-10056	165	19	0.86	0.86	NUM
ajfa-10056	165	20	0.56	0.56	NUM
ajfa-10056	165	21	0.30	0.30	NUM
ajfa-10056	165	22	0.78	0.78	NUM
ajfa-10056	165	23	0.08	0.08	NUM
ajfa-10056	165	24	0.23	0.23	NUM
ajfa-10056	165	25	four	four	NUM
ajfa-10056	165	26	-	-	PUNCT
ajfa-10056	165	27	factor	factor	NOUN
ajfa-10056	165	28	0.77	0.77	NUM
ajfa-10056	165	29	0.64	0.64	NUM
ajfa-10056	165	30	0.29	0.29	NUM
ajfa-10056	165	31	0.81	0.81	NUM
ajfa-10056	165	32	0.07	0.07	NUM
ajfa-10056	165	33	0.21	0.21	NUM
ajfa-10056	165	34	asian	asian	ADJ
ajfa-10056	165	35	journal	journal	NOUN
ajfa-10056	165	36	of	of	ADP
ajfa-10056	165	37	finance	finance	PROPN
ajfa-10056	165	38	&	&	CCONJ
ajfa-10056	165	39	accounting	accounting	PROPN
ajfa-10056	165	40	issn	issn	PROPN
ajfa-10056	165	41	1946	1946	NUM
ajfa-10056	165	42	-	-	PUNCT
ajfa-10056	165	43	052x	052x	PROPN
ajfa-10056	165	44	2016	2016	NUM
ajfa-10056	165	45	,	,	PUNCT
ajfa-10056	165	46	vol	vol	NOUN
ajfa-10056	165	47	.	.	PROPN
ajfa-10056	165	48	8	8	NUM
ajfa-10056	165	49	,	,	PUNCT
ajfa-10056	165	50	no	no	INTJ
ajfa-10056	165	51	.	.	NOUN
ajfa-10056	165	52	2	2	NUM
ajfa-10056	165	53	ajfa.macrothink.org	ajfa.macrothink.org	NOUN
ajfa-10056	165	54	123	123	NUM
ajfa-10056	165	55	and	and	CCONJ
ajfa-10056	165	56	sapp	sapp	X
ajfa-10056	165	57	(	(	PUNCT
ajfa-10056	165	58	2005	2005	NUM
ajfa-10056	165	59	)	)	PUNCT
ajfa-10056	165	60	,	,	PUNCT
ajfa-10056	165	61	who	who	PRON
ajfa-10056	165	62	conclude	conclude	VERB
ajfa-10056	165	63	that	that	SCONJ
ajfa-10056	165	64	the	the	DET
ajfa-10056	165	65	inclusion	inclusion	NOUN
ajfa-10056	165	66	of	of	ADP
ajfa-10056	165	67	financial	financial	ADJ
ajfa-10056	165	68	firms	firm	NOUN
ajfa-10056	165	69	affect	affect	VERB
ajfa-10056	165	70	the	the	DET
ajfa-10056	165	71	inferences	inference	NOUN
ajfa-10056	165	72	drawn	draw	VERB
ajfa-10056	165	73	from	from	ADP
ajfa-10056	165	74	asset	asset	NOUN
ajfa-10056	165	75	pricing	pricing	NOUN
ajfa-10056	165	76	tests	test	NOUN
ajfa-10056	165	77	.	.	PUNCT
ajfa-10056	166	1	in	in	ADP
ajfa-10056	166	2	conclusion	conclusion	NOUN
ajfa-10056	166	3	with	with	ADP
ajfa-10056	166	4	regard	regard	NOUN
ajfa-10056	166	5	to	to	ADP
ajfa-10056	166	6	the	the	DET
ajfa-10056	166	7	cse	cse	NOUN
ajfa-10056	166	8	,	,	PUNCT
ajfa-10056	166	9	it	it	PRON
ajfa-10056	166	10	can	can	AUX
ajfa-10056	166	11	be	be	AUX
ajfa-10056	166	12	said	say	VERB
ajfa-10056	166	13	that	that	SCONJ
ajfa-10056	166	14	including	include	VERB
ajfa-10056	166	15	the	the	DET
ajfa-10056	166	16	financial	financial	ADJ
ajfa-10056	166	17	sector	sector	NOUN
ajfa-10056	166	18	does	do	AUX
ajfa-10056	166	19	not	not	PART
ajfa-10056	166	20	alter	alter	VERB
ajfa-10056	166	21	the	the	DET
ajfa-10056	166	22	findings	finding	NOUN
ajfa-10056	166	23	of	of	ADP
ajfa-10056	166	24	empirical	empirical	ADJ
ajfa-10056	166	25	asset	asset	NOUN
ajfa-10056	166	26	pricing	pricing	NOUN
ajfa-10056	166	27	tests	test	NOUN
ajfa-10056	166	28	done	do	VERB
ajfa-10056	166	29	by	by	ADP
ajfa-10056	166	30	excluding	exclude	VERB
ajfa-10056	166	31	them	they	PRON
ajfa-10056	166	32	.	.	PUNCT
ajfa-10056	167	1	references	reference	NOUN
ajfa-10056	167	2	abeysekera	abeysekera	NOUN
ajfa-10056	167	3	,	,	PUNCT
ajfa-10056	167	4	a.	a.	NOUN
ajfa-10056	167	5	p.	p.	PROPN
ajfa-10056	167	6	,&nimal	,&nimal	PUNCT
ajfa-10056	167	7	,	,	PUNCT
ajfa-10056	167	8	p.	p.	NOUN
ajfa-10056	167	9	d.	d.	PROPN
ajfa-10056	167	10	(	(	PUNCT
ajfa-10056	167	11	2016	2016	NUM
ajfa-10056	167	12	)	)	PUNCT
ajfa-10056	167	13	.	.	PUNCT
ajfa-10056	168	1	the	the	DET
ajfa-10056	168	2	four	four	NUM
ajfa-10056	168	3	factor	factor	NOUN
ajfa-10056	168	4	model	model	NOUN
ajfa-10056	168	5	and	and	CCONJ
ajfa-10056	168	6	stock	stock	NOUN
ajfa-10056	168	7	returns	return	NOUN
ajfa-10056	168	8	:	:	PUNCT
ajfa-10056	168	9	evidence	evidence	NOUN
ajfa-10056	168	10	from	from	ADP
ajfa-10056	168	11	sri	sri	PROPN
ajfa-10056	168	12	lanka	lanka	PROPN
ajfa-10056	168	13	,	,	PUNCT
ajfa-10056	168	14	afro	afro	NOUN
ajfa-10056	168	15	-	-	PUNCT
ajfa-10056	168	16	asian	asian	ADJ
ajfa-10056	168	17	journal	journal	NOUN
ajfa-10056	168	18	of	of	ADP
ajfa-10056	168	19	finance	finance	NOUN
ajfa-10056	168	20	and	and	CCONJ
ajfa-10056	168	21	accounting	accounting	NOUN
ajfa-10056	168	22	(	(	PUNCT
ajfa-10056	168	23	forth	forth	ADV
ajfa-10056	168	24	coming	come	VERB
ajfa-10056	168	25	)	)	PUNCT
ajfa-10056	168	26	.	.	PUNCT
ajfa-10056	169	1	anuradha	anuradha	PROPN
ajfa-10056	169	2	,	,	PUNCT
ajfa-10056	169	3	p.	p.	NOUN
ajfa-10056	169	4	a.	a.	PROPN
ajfa-10056	169	5	n.	n.	PROPN
ajfa-10056	169	6	s.	s.	PROPN
ajfa-10056	169	7	,	,	PUNCT
ajfa-10056	169	8	&	&	CCONJ
ajfa-10056	169	9	nimal	nimal	PROPN
ajfa-10056	169	10	,	,	PUNCT
ajfa-10056	169	11	p.	p.	NOUN
ajfa-10056	169	12	d.(2013	d.(2013	PROPN
ajfa-10056	169	13	)	)	PUNCT
ajfa-10056	169	14	.	.	PUNCT
ajfa-10056	170	1	momentum	momentum	NOUN
ajfa-10056	170	2	in	in	ADP
ajfa-10056	170	3	stock	stock	NOUN
ajfa-10056	170	4	returns	return	NOUN
ajfa-10056	170	5	:	:	PUNCT
ajfa-10056	170	6	evidence	evidence	NOUN
ajfa-10056	170	7	from	from	ADP
ajfa-10056	170	8	sri	sri	PROPN
ajfa-10056	170	9	lanka	lanka	PROPN
ajfa-10056	170	10	.	.	PUNCT
ajfa-10056	171	1	in	in	ADP
ajfa-10056	171	2	:	:	PUNCT
ajfa-10056	171	3	proceedings	proceeding	NOUN
ajfa-10056	171	4	of	of	ADP
ajfa-10056	171	5	the	the	DET
ajfa-10056	171	6	annual	annual	ADJ
ajfa-10056	171	7	research	research	NOUN
ajfa-10056	171	8	symposium	symposium	NOUN
ajfa-10056	171	9	.	.	PUNCT
ajfa-10056	171	10	colombo	colombo	NOUN
ajfa-10056	171	11	,	,	PUNCT
ajfa-10056	171	12	university	university	NOUN
ajfa-10056	171	13	of	of	ADP
ajfa-10056	171	14	colombo	colombo	NOUN
ajfa-10056	171	15	.	.	PUNCT
ajfa-10056	172	1	barber	barber	PROPN
ajfa-10056	172	2	,	,	PUNCT
ajfa-10056	172	3	b.	b.	PROPN
ajfa-10056	172	4	,	,	PUNCT
ajfa-10056	172	5	&	&	CCONJ
ajfa-10056	172	6	lyon	lyon	PROPN
ajfa-10056	172	7	,	,	PUNCT
ajfa-10056	172	8	j.	j.	PROPN
ajfa-10056	172	9	(	(	PUNCT
ajfa-10056	172	10	2007	2007	NUM
ajfa-10056	172	11	)	)	PUNCT
ajfa-10056	172	12	.	.	PUNCT
ajfa-10056	173	1	form	form	NOUN
ajfa-10056	173	2	size	size	NOUN
ajfa-10056	173	3	,	,	PUNCT
ajfa-10056	173	4	book	book	NOUN
ajfa-10056	173	5	-	-	PUNCT
ajfa-10056	173	6	to	to	ADP
ajfa-10056	173	7	-	-	PUNCT
ajfa-10056	173	8	market	market	NOUN
ajfa-10056	173	9	and	and	CCONJ
ajfa-10056	173	10	security	security	NOUN
ajfa-10056	173	11	returns	return	NOUN
ajfa-10056	173	12	:	:	PUNCT
ajfa-10056	173	13	a	a	DET
ajfa-10056	173	14	hold	hold	VERB
ajfa-10056	173	15	-	-	PUNCT
ajfa-10056	173	16	out	out	ADP
ajfa-10056	173	17	sample	sample	NOUN
ajfa-10056	173	18	of	of	ADP
ajfa-10056	173	19	financial	financial	ADJ
ajfa-10056	173	20	firms	firm	NOUN
ajfa-10056	173	21	.	.	PUNCT
ajfa-10056	174	1	journal	journal	NOUN
ajfa-10056	174	2	of	of	ADP
ajfa-10056	174	3	finance,52(2	finance,52(2	PROPN
ajfa-10056	174	4	)	)	PUNCT
ajfa-10056	174	5	,	,	PUNCT
ajfa-10056	174	6	875-883.http://dx.doi.org/10.1111/j.1540-6261.1997.tb04826.x	875-883.http://dx.doi.org/10.1111/j.1540-6261.1997.tb04826.x	NUM
ajfa-10056	174	7	carhart	carhart	NOUN
ajfa-10056	174	8	,	,	PUNCT
ajfa-10056	174	9	m.	m.	NOUN
ajfa-10056	174	10	m.	m.	NOUN
ajfa-10056	174	11	(	(	PUNCT
ajfa-10056	174	12	1997	1997	NUM
ajfa-10056	174	13	)	)	PUNCT
ajfa-10056	174	14	.	.	PUNCT
ajfa-10056	175	1	on	on	ADP
ajfa-10056	175	2	persistence	persistence	NOUN
ajfa-10056	175	3	in	in	ADP
ajfa-10056	175	4	mutual	mutual	ADJ
ajfa-10056	175	5	fund	fund	NOUN
ajfa-10056	175	6	performance	performance	NOUN
ajfa-10056	175	7	.	.	PUNCT
ajfa-10056	176	1	journal	journal	NOUN
ajfa-10056	176	2	of	of	ADP
ajfa-10056	176	3	finance,52(1	finance,52(1	PROPN
ajfa-10056	176	4	)	)	PUNCT
ajfa-10056	176	5	,	,	PUNCT
ajfa-10056	176	6	57-82.http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	57-82.http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	PROPN
ajfa-10056	176	7	cooper	cooper	NOUN
ajfa-10056	176	8	,	,	PUNCT
ajfa-10056	176	9	m.j	m.j	PROPN
ajfa-10056	176	10	.	.	PROPN
ajfa-10056	176	11	,	,	PUNCT
ajfa-10056	176	12	jackson	jackson	PROPN
ajfa-10056	176	13	,	,	PUNCT
ajfa-10056	176	14	w.	w.	PROPN
ajfa-10056	176	15	e.	e.	PROPN
ajfa-10056	176	16	,&patterson	,&patterson	PROPN
ajfa-10056	176	17	,	,	PUNCT
ajfa-10056	176	18	g.a	g.a	PROPN
ajfa-10056	176	19	.	.	PUNCT
ajfa-10056	176	20	(	(	PUNCT
ajfa-10056	176	21	2003	2003	NUM
ajfa-10056	176	22	)	)	PUNCT
ajfa-10056	176	23	.	.	PUNCT
ajfa-10056	177	1	evidence	evidence	NOUN
ajfa-10056	177	2	of	of	ADP
ajfa-10056	177	3	predictability	predictability	NOUN
ajfa-10056	177	4	in	in	ADP
ajfa-10056	177	5	the	the	DET
ajfa-10056	177	6	cross	cross	NOUN
ajfa-10056	177	7	-	-	NOUN
ajfa-10056	177	8	section	section	NOUN
ajfa-10056	177	9	of	of	ADP
ajfa-10056	177	10	bank	bank	NOUN
ajfa-10056	177	11	stock	stock	NOUN
ajfa-10056	177	12	returns	return	NOUN
ajfa-10056	177	13	.	.	PUNCT
ajfa-10056	178	1	journal	journal	NOUN
ajfa-10056	178	2	of	of	ADP
ajfa-10056	178	3	banking	banking	NOUN
ajfa-10056	178	4	and	and	CCONJ
ajfa-10056	178	5	finance	finance	NOUN
ajfa-10056	178	6	,	,	PUNCT
ajfa-10056	178	7	27	27	NUM
ajfa-10056	178	8	,	,	PUNCT
ajfa-10056	178	9	817-850.http://dx.doi.org/10.1016/s0378-4266(01)00263-1	817-850.http://dx.doi.org/10.1016/s0378-4266(01)00263-1	NUM
ajfa-10056	178	10	fama	fama	NOUN
ajfa-10056	178	11	,	,	PUNCT
ajfa-10056	178	12	e.	e.	PROPN
ajfa-10056	178	13	f.	f.	PROPN
ajfa-10056	178	14	,	,	PUNCT
ajfa-10056	178	15	&	&	CCONJ
ajfa-10056	178	16	french	french	PROPN
ajfa-10056	178	17	,	,	PUNCT
ajfa-10056	178	18	k.	k.	PROPN
ajfa-10056	178	19	r.	r.	PROPN
ajfa-10056	178	20	(	(	PUNCT
ajfa-10056	178	21	1992	1992	NUM
ajfa-10056	178	22	)	)	PUNCT
ajfa-10056	178	23	.	.	PUNCT
ajfa-10056	179	1	the	the	DET
ajfa-10056	179	2	cross	cross	NOUN
ajfa-10056	179	3	-	-	NOUN
ajfa-10056	179	4	section	section	NOUN
ajfa-10056	179	5	of	of	ADP
ajfa-10056	179	6	expected	expect	VERB
ajfa-10056	179	7	stock	stock	NOUN
ajfa-10056	179	8	returns	return	NOUN
ajfa-10056	179	9	.	.	PUNCT
ajfa-10056	180	1	journal	journal	NOUN
ajfa-10056	180	2	of	of	ADP
ajfa-10056	180	3	finance,47(2	finance,47(2	PROPN
ajfa-10056	180	4	)	)	PUNCT
ajfa-10056	180	5	,	,	PUNCT
ajfa-10056	180	6	427-65.http://dx.doi.org/10.1111/j.1540-6261.1992.tb04398.x	427-65.http://dx.doi.org/10.1111/j.1540-6261.1992.tb04398.x	PROPN
ajfa-10056	180	7	fama	fama	NOUN
ajfa-10056	180	8	,	,	PUNCT
ajfa-10056	180	9	e.	e.	PROPN
ajfa-10056	180	10	f.	f.	PROPN
ajfa-10056	180	11	,	,	PUNCT
ajfa-10056	180	12	&	&	CCONJ
ajfa-10056	180	13	french	french	PROPN
ajfa-10056	180	14	,	,	PUNCT
ajfa-10056	180	15	k.	k.	PROPN
ajfa-10056	180	16	r.	r.	PROPN
ajfa-10056	180	17	(	(	PUNCT
ajfa-10056	180	18	1993	1993	NUM
ajfa-10056	180	19	)	)	PUNCT
ajfa-10056	180	20	.	.	PUNCT
ajfa-10056	181	1	common	common	ADJ
ajfa-10056	181	2	risk	risk	NOUN
ajfa-10056	181	3	factors	factor	NOUN
ajfa-10056	181	4	in	in	ADP
ajfa-10056	181	5	the	the	DET
ajfa-10056	181	6	returns	return	NOUN
ajfa-10056	181	7	on	on	ADP
ajfa-10056	181	8	stocks	stock	NOUN
ajfa-10056	181	9	and	and	CCONJ
ajfa-10056	181	10	bonds	bond	NOUN
ajfa-10056	181	11	.	.	PUNCT
ajfa-10056	182	1	journal	journal	NOUN
ajfa-10056	182	2	of	of	ADP
ajfa-10056	182	3	financialeconomics,33(1	financialeconomics,33(1	PROPN
ajfa-10056	182	4	)	)	PUNCT
ajfa-10056	182	5	,	,	PUNCT
ajfa-10056	182	6	2-56.http://dx.doi.org/10.1016/0304-405x(93)90023-5	2-56.http://dx.doi.org/10.1016/0304-405x(93)90023-5	NUM
ajfa-10056	182	7	fama	fama	NOUN
ajfa-10056	182	8	,	,	PUNCT
ajfa-10056	182	9	e.	e.	PROPN
ajfa-10056	182	10	f.	f.	PROPN
ajfa-10056	182	11	,	,	PUNCT
ajfa-10056	182	12	&	&	CCONJ
ajfa-10056	182	13	french	french	PROPN
ajfa-10056	182	14	,	,	PUNCT
ajfa-10056	182	15	k.	k.	PROPN
ajfa-10056	182	16	r.	r.	PROPN
ajfa-10056	182	17	(	(	PUNCT
ajfa-10056	182	18	1996	1996	NUM
ajfa-10056	182	19	)	)	PUNCT
ajfa-10056	182	20	.	.	PUNCT
ajfa-10056	183	1	multifactor	multifactor	NOUN
ajfa-10056	183	2	explanations	explanation	NOUN
ajfa-10056	183	3	of	of	ADP
ajfa-10056	183	4	asset	asset	NOUN
ajfa-10056	183	5	pricing	pricing	NOUN
ajfa-10056	183	6	anomalies	anomaly	NOUN
ajfa-10056	183	7	.	.	PUNCT
ajfa-10056	184	1	journal	journal	NOUN
ajfa-10056	184	2	of	of	ADP
ajfa-10056	184	3	finance,51(1	finance,51(1	PROPN
ajfa-10056	184	4	)	)	PUNCT
ajfa-10056	184	5	,	,	PUNCT
ajfa-10056	184	6	55-84.http://dx.doi.org/10.1111/j.1540-6261.1996.tb05202.x	55-84.http://dx.doi.org/10.1111/j.1540-6261.1996.tb05202.x	PROPN
ajfa-10056	184	7	fama	fama	NOUN
ajfa-10056	184	8	,	,	PUNCT
ajfa-10056	184	9	e.	e.	PROPN
ajfa-10056	184	10	f.	f.	PROPN
ajfa-10056	184	11	,	,	PUNCT
ajfa-10056	184	12	&	&	CCONJ
ajfa-10056	184	13	french	french	PROPN
ajfa-10056	184	14	,	,	PUNCT
ajfa-10056	184	15	k.	k.	PROPN
ajfa-10056	184	16	r.(2012	r.(2012	PROPN
ajfa-10056	184	17	)	)	PUNCT
ajfa-10056	184	18	.	.	PUNCT
ajfa-10056	185	1	size	size	NOUN
ajfa-10056	185	2	,	,	PUNCT
ajfa-10056	185	3	value	value	NOUN
ajfa-10056	185	4	and	and	CCONJ
ajfa-10056	185	5	momentum	momentum	NOUN
ajfa-10056	185	6	in	in	ADP
ajfa-10056	185	7	international	international	ADJ
ajfa-10056	185	8	stock	stock	NOUN
ajfa-10056	185	9	returns	return	NOUN
ajfa-10056	185	10	.	.	PUNCT
ajfa-10056	186	1	journal	journal	NOUN
ajfa-10056	186	2	of	of	ADP
ajfa-10056	186	3	financial	financial	ADJ
ajfa-10056	186	4	economics,105(3	economics,105(3	PROPN
ajfa-10056	186	5	)	)	PUNCT
ajfa-10056	186	6	,	,	PUNCT
ajfa-10056	186	7	457-72.http://dx.doi.org/10.1016/j.jfineco.2012.05.011	457-72.http://dx.doi.org/10.1016/j.jfineco.2012.05.011	PROPN
ajfa-10056	186	8	foerster	foerster	PROPN
ajfa-10056	186	9	,	,	PUNCT
ajfa-10056	186	10	s.r	s.r	PROPN
ajfa-10056	186	11	.	.	PROPN
ajfa-10056	186	12	,&sapp	,&sapp	PROPN
ajfa-10056	186	13	,	,	PUNCT
ajfa-10056	186	14	s.	s.	PROPN
ajfa-10056	186	15	g.	g.	PROPN
ajfa-10056	186	16	(	(	PUNCT
ajfa-10056	186	17	2005	2005	NUM
ajfa-10056	186	18	)	)	PUNCT
ajfa-10056	186	19	.	.	PUNCT
ajfa-10056	187	1	valuation	valuation	NOUN
ajfa-10056	187	2	of	of	ADP
ajfa-10056	187	3	financial	financial	PROPN
ajfa-10056	187	4	versus	versus	ADP
ajfa-10056	187	5	non	non	ADJ
ajfa-10056	187	6	-	-	ADJ
ajfa-10056	187	7	financial	financial	ADJ
ajfa-10056	187	8	firms	firm	NOUN
ajfa-10056	187	9	:	:	PUNCT
ajfa-10056	187	10	a	a	DET
ajfa-10056	187	11	global	global	ADJ
ajfa-10056	187	12	perspective	perspective	NOUN
ajfa-10056	187	13	.	.	PUNCT
ajfa-10056	188	1	journal	journal	PROPN
ajfa-10056	188	2	of	of	ADP
ajfa-10056	188	3	international	international	ADJ
ajfa-10056	188	4	financial	financial	ADJ
ajfa-10056	188	5	markets	market	NOUN
ajfa-10056	188	6	,	,	PUNCT
ajfa-10056	188	7	institutions	institution	NOUN
ajfa-10056	188	8	and	and	CCONJ
ajfa-10056	188	9	money,15	money,15	NOUN
ajfa-10056	188	10	,	,	PUNCT
ajfa-10056	188	11	1-20.http://dx.doi.org/10.1016/j.intfin.2004.01.003	1-20.http://dx.doi.org/10.1016/j.intfin.2004.01.003	NUM
ajfa-10056	188	12	gibbons	gibbon	NOUN
ajfa-10056	188	13	,	,	PUNCT
ajfa-10056	188	14	m.	m.	PROPN
ajfa-10056	188	15	r.	r.	PROPN
ajfa-10056	188	16	,	,	PUNCT
ajfa-10056	188	17	ross	ross	PROPN
ajfa-10056	188	18	,	,	PUNCT
ajfa-10056	188	19	s.	s.	PROPN
ajfa-10056	188	20	a.	a.	PROPN
ajfa-10056	188	21	,	,	PUNCT
ajfa-10056	188	22	&	&	CCONJ
ajfa-10056	188	23	shanken	shanken	PROPN
ajfa-10056	188	24	,	,	PUNCT
ajfa-10056	188	25	j.	j.	PROPN
ajfa-10056	188	26	(	(	PUNCT
ajfa-10056	188	27	1989	1989	NUM
ajfa-10056	188	28	)	)	PUNCT
ajfa-10056	188	29	.	.	PUNCT
ajfa-10056	189	1	a	a	DET
ajfa-10056	189	2	test	test	NOUN
ajfa-10056	189	3	of	of	ADP
ajfa-10056	189	4	the	the	DET
ajfa-10056	189	5	efficiency	efficiency	NOUN
ajfa-10056	189	6	of	of	ADP
ajfa-10056	189	7	a	a	DET
ajfa-10056	189	8	given	give	VERB
ajfa-10056	189	9	portfolio	portfolio	NOUN
ajfa-10056	189	10	.	.	PUNCT
ajfa-10056	190	1	econometrica,57(5	econometrica,57(5	PROPN
ajfa-10056	190	2	)	)	PUNCT
ajfa-10056	190	3	,	,	PUNCT
ajfa-10056	190	4	1121-1152.http://dx.doi.org/10.2307/1913625	1121-1152.http://dx.doi.org/10.2307/1913625	NUM
ajfa-10056	190	5	jegadeesh	jegadeesh	NOUN
ajfa-10056	190	6	,	,	PUNCT
ajfa-10056	190	7	n.	n.	NOUN
ajfa-10056	190	8	,	,	PUNCT
ajfa-10056	190	9	&	&	CCONJ
ajfa-10056	190	10	titman	titman	PROPN
ajfa-10056	190	11	,	,	PUNCT
ajfa-10056	190	12	s.	s.	PROPN
ajfa-10056	190	13	(	(	PUNCT
ajfa-10056	190	14	1993	1993	NUM
ajfa-10056	190	15	)	)	PUNCT
ajfa-10056	190	16	.	.	PUNCT
ajfa-10056	191	1	returns	return	NOUN
ajfa-10056	191	2	to	to	ADP
ajfa-10056	191	3	buying	buy	VERB
ajfa-10056	191	4	winners	winner	NOUN
ajfa-10056	191	5	and	and	CCONJ
ajfa-10056	191	6	selling	sell	VERB
ajfa-10056	191	7	losers	loser	NOUN
ajfa-10056	191	8	.	.	PUNCT
ajfa-10056	192	1	journal	journal	NOUN
ajfa-10056	192	2	of	of	ADP
ajfa-10056	192	3	finance,48(1	finance,48(1	PROPN
ajfa-10056	192	4	)	)	PUNCT
ajfa-10056	192	5	,	,	PUNCT
ajfa-10056	192	6	65-91.http://dx.doi.org/10.1111/j.1540-6261.1993.tb04702.x	65-91.http://dx.doi.org/10.1111/j.1540-6261.1993.tb04702.x	PROPN
ajfa-10056	192	7	nanayakkara	nanayakkara	NOUN
ajfa-10056	192	8	,	,	PUNCT
ajfa-10056	192	9	n.	n.	PROPN
ajfa-10056	192	10	s.	s.	PROPN
ajfa-10056	192	11	(	(	PUNCT
ajfa-10056	192	12	2008	2008	NUM
ajfa-10056	192	13	)	)	PUNCT
ajfa-10056	192	14	.	.	PUNCT
ajfa-10056	193	1	three	three	NUM
ajfa-10056	193	2	factor	factor	NOUN
ajfa-10056	193	3	asset	asset	NOUN
ajfa-10056	193	4	pricing	pricing	NOUN
ajfa-10056	193	5	model	model	NOUN
ajfa-10056	193	6	:	:	PUNCT
ajfa-10056	193	7	explaining	explain	VERB
ajfa-10056	193	8	cross	cross	NOUN
ajfa-10056	193	9	section	section	NOUN
ajfa-10056	193	10	of	of	ADP
ajfa-10056	193	11	stock	stock	NOUN
ajfa-10056	193	12	returns	return	NOUN
ajfa-10056	193	13	in	in	ADP
ajfa-10056	193	14	sri	sri	PROPN
ajfa-10056	193	15	lankan	lankan	PROPN
ajfa-10056	193	16	stock	stock	NOUN
ajfa-10056	193	17	market	market	NOUN
ajfa-10056	193	18	.	.	PUNCT
ajfa-10056	194	1	in	in	ADP
ajfa-10056	194	2	:	:	PUNCT
ajfa-10056	194	3	proceedings	proceeding	NOUN
ajfa-10056	194	4	of	of	ADP
ajfa-10056	194	5	fifth	fifth	ADJ
ajfa-10056	194	6	international	international	ADJ
ajfa-10056	194	7	conference	conference	NOUN
ajfa-10056	194	8	of	of	ADP
ajfa-10056	194	9	asian	asian	ADJ
ajfa-10056	194	10	journal	journal	PROPN
ajfa-10056	194	11	of	of	ADP
ajfa-10056	194	12	finance	finance	PROPN
ajfa-10056	194	13	&	&	CCONJ
ajfa-10056	194	14	accounting	accounting	PROPN
ajfa-10056	194	15	issn	issn	PROPN
ajfa-10056	194	16	1946	1946	NUM
ajfa-10056	194	17	-	-	PUNCT
ajfa-10056	194	18	052x	052x	PROPN
ajfa-10056	194	19	2016	2016	NUM
ajfa-10056	194	20	,	,	PUNCT
ajfa-10056	194	21	vol	vol	NOUN
ajfa-10056	194	22	.	.	PROPN
ajfa-10056	194	23	8	8	NUM
ajfa-10056	194	24	,	,	PUNCT
ajfa-10056	194	25	no	no	INTJ
ajfa-10056	194	26	.	.	NOUN
ajfa-10056	194	27	2	2	NUM
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ajfa-10056	194	29	124	124	NUM
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ajfa-10056	194	31	management	management	NOUN
ajfa-10056	194	32	.	.	PUNCT
ajfa-10056	195	1	sri	sri	PROPN
ajfa-10056	195	2	lanka	lanka	PROPN
ajfa-10056	195	3	,	,	PUNCT
ajfa-10056	195	4	university	university	PROPN
ajfa-10056	195	5	of	of	ADP
ajfa-10056	195	6	sri	sri	PROPN
ajfa-10056	195	7	jayewardenepura	jayewardenepura	PROPN
ajfa-10056	195	8	.	.	PUNCT
ajfa-10056	196	1	57	57	NUM
ajfa-10056	196	2	-	-	SYM
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ajfa-10056	196	4	.	.	PUNCT
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ajfa-10056	197	2	,	,	PUNCT
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ajfa-10056	197	4	d.(1997	d.(1997	NOUN
ajfa-10056	197	5	)	)	PUNCT
ajfa-10056	197	6	.	.	PUNCT
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ajfa-10056	198	2	between	between	ADP
ajfa-10056	198	3	stock	stock	NOUN
ajfa-10056	198	4	returns	return	NOUN
ajfa-10056	198	5	and	and	CCONJ
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ajfa-10056	198	8	variables	variable	NOUN
ajfa-10056	198	9	:	:	PUNCT
ajfa-10056	198	10	evidence	evidence	NOUN
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ajfa-10056	198	12	sri	sri	PROPN
ajfa-10056	198	13	lanka	lanka	PROPN
ajfa-10056	198	14	.	.	PUNCT
ajfa-10056	199	1	sri	sri	PROPN
ajfa-10056	199	2	lankan	lankan	PROPN
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ajfa-10056	199	5	management	management	NOUN
ajfa-10056	199	6	,	,	PUNCT
ajfa-10056	199	7	2(3	2(3	NUM
ajfa-10056	199	8	)	)	PUNCT
ajfa-10056	199	9	,	,	PUNCT
ajfa-10056	199	10	268	268	NUM
ajfa-10056	199	11	-	-	SYM
ajfa-10056	199	12	86	86	NUM
ajfa-10056	199	13	.	.	PUNCT
ajfa-10056	200	1	nimal	nimal	PROPN
ajfa-10056	200	2	,	,	PUNCT
ajfa-10056	200	3	p.	p.	PROPN
ajfa-10056	200	4	d.	d.	PROPN
ajfa-10056	200	5	(	(	PUNCT
ajfa-10056	200	6	2006	2006	NUM
ajfa-10056	200	7	)	)	PUNCT
ajfa-10056	200	8	.	.	PUNCT
ajfa-10056	201	1	empirical	empirical	ADJ
ajfa-10056	201	2	analysis	analysis	NOUN
ajfa-10056	201	3	of	of	ADP
ajfa-10056	201	4	the	the	DET
ajfa-10056	201	5	capital	capital	NOUN
ajfa-10056	201	6	asset	asset	NOUN
ajfa-10056	201	7	pricing	pricing	NOUN
ajfa-10056	201	8	model	model	NOUN
ajfa-10056	201	9	,	,	PUNCT
ajfa-10056	201	10	university	university	NOUN
ajfa-10056	201	11	of	of	ADP
ajfa-10056	201	12	shiga	shiga	PROPN
ajfa-10056	201	13	,	,	PUNCT
ajfa-10056	201	14	japan	japan	PROPN
ajfa-10056	201	15	:	:	PUNCT
ajfa-10056	201	16	ph.d	ph.d	PROPN
ajfa-10056	201	17	thesis	thesis	NOUN
ajfa-10056	201	18	.	.	PUNCT
ajfa-10056	202	1	pathirawasam	pathirawasam	PROPN
ajfa-10056	202	2	,	,	PUNCT
ajfa-10056	202	3	c.	c.	PROPN
ajfa-10056	202	4	,	,	PUNCT
ajfa-10056	202	5	&	&	CCONJ
ajfa-10056	202	6	weerakoon	weerakoon	PROPN
ajfa-10056	202	7	banda	banda	PROPN
ajfa-10056	202	8	,	,	PUNCT
ajfa-10056	202	9	y.k.(2008	y.k.(2008	PROPN
ajfa-10056	202	10	)	)	PUNCT
ajfa-10056	202	11	.	.	PUNCT
ajfa-10056	203	1	profitability	profitability	NOUN
ajfa-10056	203	2	of	of	ADP
ajfa-10056	203	3	momentum	momentum	NOUN
ajfa-10056	203	4	and	and	CCONJ
ajfa-10056	203	5	contrarian	contrarian	ADJ
ajfa-10056	203	6	strategies	strategy	NOUN
ajfa-10056	203	7	in	in	ADP
ajfa-10056	203	8	the	the	DET
ajfa-10056	203	9	colombo	colombo	NOUN
ajfa-10056	203	10	stock	stock	NOUN
ajfa-10056	203	11	exchange	exchange	NOUN
ajfa-10056	203	12	.	.	PUNCT
ajfa-10056	204	1	in	in	ADP
ajfa-10056	204	2	:	:	PUNCT
ajfa-10056	204	3	proceedings	proceeding	NOUN
ajfa-10056	204	4	of	of	ADP
ajfa-10056	204	5	fifth	fifth	ADJ
ajfa-10056	204	6	international	international	ADJ
ajfa-10056	204	7	conference	conference	NOUN
ajfa-10056	204	8	of	of	ADP
ajfa-10056	204	9	business	business	NOUN
ajfa-10056	204	10	management	management	NOUN
ajfa-10056	204	11	.	.	PUNCT
ajfa-10056	205	1	sri	sri	PROPN
ajfa-10056	205	2	lanka	lanka	PROPN
ajfa-10056	205	3	,	,	PUNCT
ajfa-10056	205	4	university	university	PROPN
ajfa-10056	205	5	of	of	ADP
ajfa-10056	205	6	sri	sri	PROPN
ajfa-10056	205	7	jayewardenepura	jayewardenepura	PROPN
ajfa-10056	205	8	.	.	PUNCT
ajfa-10056	206	1	27	27	NUM
ajfa-10056	206	2	-	-	SYM
ajfa-10056	206	3	31	31	NUM
ajfa-10056	206	4	.	.	PUNCT
ajfa-10056	207	1	samarakoon	samarakoon	NOUN
ajfa-10056	207	2	,	,	PUNCT
ajfa-10056	207	3	l.	l.	PROPN
ajfa-10056	207	4	p.	p.	PROPN
ajfa-10056	207	5	(	(	PUNCT
ajfa-10056	207	6	1997	1997	NUM
ajfa-10056	207	7	)	)	PUNCT
ajfa-10056	207	8	.	.	PUNCT
ajfa-10056	208	1	the	the	DET
ajfa-10056	208	2	cross	cross	NOUN
ajfa-10056	208	3	-	-	NOUN
ajfa-10056	208	4	section	section	NOUN
ajfa-10056	208	5	of	of	ADP
ajfa-10056	208	6	expected	expect	VERB
ajfa-10056	208	7	stock	stock	NOUN
ajfa-10056	208	8	returns	return	NOUN
ajfa-10056	208	9	in	in	ADP
ajfa-10056	208	10	sri	sri	PROPN
ajfa-10056	208	11	lanka	lanka	PROPN
ajfa-10056	208	12	.	.	PUNCT
ajfa-10056	209	1	sri	sri	PROPN
ajfa-10056	209	2	lankan	lankan	PROPN
ajfa-10056	209	3	journal	journal	PROPN
ajfa-10056	209	4	of	of	ADP
ajfa-10056	209	5	management	management	NOUN
ajfa-10056	209	6	,	,	PUNCT
ajfa-10056	209	7	2(3	2(3	NUM
ajfa-10056	209	8	)	)	PUNCT
ajfa-10056	209	9	,	,	PUNCT
ajfa-10056	209	10	234	234	NUM
ajfa-10056	209	11	-	-	SYM
ajfa-10056	209	12	50	50	NUM
ajfa-10056	209	13	.	.	PUNCT