id	sid	tid	token	lemma	pos
ajfa-10186	1	1	microsoft	microsoft	PROPN
ajfa-10186	1	2	word	word	NOUN
ajfa-10186	1	3	10186	10186	NUM
ajfa-10186	1	4	-	-	PUNCT
ajfa-10186	1	5	37493	37493	NUM
ajfa-10186	1	6	-	-	PUNCT
ajfa-10186	1	7	1	1	NUM
ajfa-10186	1	8	-	-	PUNCT
ajfa-10186	1	9	sm	sm	NOUN
ajfa-10186	1	10	-	-	PUNCT
ajfa-10186	1	11	writer2	writer2	VERB
ajfa-10186	1	12	-	-	ADJ
ajfa-10186	1	13	new	new	ADJ
ajfa-10186	1	14	asian	asian	ADJ
ajfa-10186	1	15	journal	journal	NOUN
ajfa-10186	1	16	of	of	ADP
ajfa-10186	1	17	finance	finance	PROPN
ajfa-10186	1	18	&	&	CCONJ
ajfa-10186	1	19	accounting	accounting	PROPN
ajfa-10186	1	20	issn	issn	PROPN
ajfa-10186	1	21	1946	1946	NUM
ajfa-10186	1	22	-	-	PUNCT
ajfa-10186	1	23	052x	052x	PROPN
ajfa-10186	1	24	2016	2016	NUM
ajfa-10186	1	25	,	,	PUNCT
ajfa-10186	1	26	vol	vol	NOUN
ajfa-10186	1	27	.	.	PROPN
ajfa-10186	1	28	8	8	NUM
ajfa-10186	1	29	,	,	PUNCT
ajfa-10186	1	30	no	no	INTJ
ajfa-10186	1	31	.	.	NOUN
ajfa-10186	1	32	2	2	NUM
ajfa-10186	1	33	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	1	34	125	125	NUM
ajfa-10186	1	35	protection	protection	NOUN
ajfa-10186	1	36	of	of	ADP
ajfa-10186	1	37	investors	investor	NOUN
ajfa-10186	1	38	’	’	PART
ajfa-10186	1	39	rights	right	NOUN
ajfa-10186	1	40	and	and	CCONJ
ajfa-10186	1	41	the	the	DET
ajfa-10186	1	42	long	long	ADV
ajfa-10186	1	43	-	-	PUNCT
ajfa-10186	1	44	run	run	NOUN
ajfa-10186	1	45	performance	performance	NOUN
ajfa-10186	1	46	of	of	ADP
ajfa-10186	1	47	rule	rule	NOUN
ajfa-10186	1	48	144a	144a	ADJ
ajfa-10186	1	49	private	private	ADJ
ajfa-10186	1	50	equity	equity	NOUN
ajfa-10186	1	51	offerings	offering	NOUN
ajfa-10186	1	52	seoungpil	seoungpil	PROPN
ajfa-10186	1	53	ahn	ahn	PROPN
ajfa-10186	1	54	(	(	PUNCT
ajfa-10186	1	55	corresponding	correspond	VERB
ajfa-10186	1	56	author	author	NOUN
ajfa-10186	1	57	)	)	PUNCT
ajfa-10186	1	58	sogang	sogang	PROPN
ajfa-10186	1	59	business	business	PROPN
ajfa-10186	1	60	school	school	PROPN
ajfa-10186	1	61	,	,	PUNCT
ajfa-10186	1	62	sogang	sogang	PROPN
ajfa-10186	1	63	university	university	PROPN
ajfa-10186	1	64	pa706	pa706	PROPN
ajfa-10186	1	65	,	,	PUNCT
ajfa-10186	1	66	35	35	NUM
ajfa-10186	1	67	baekbeom	baekbeom	NOUN
ajfa-10186	1	68	-	-	PUNCT
ajfa-10186	1	69	ro	ro	NOUN
ajfa-10186	1	70	,	,	PUNCT
ajfa-10186	1	71	mapo	mapo	NOUN
ajfa-10186	1	72	-	-	PUNCT
ajfa-10186	1	73	gu	gu	NOUN
ajfa-10186	1	74	,	,	PUNCT
ajfa-10186	1	75	seoul	seoul	PROPN
ajfa-10186	1	76	121	121	NUM
ajfa-10186	1	77	-	-	SYM
ajfa-10186	1	78	742	742	NUM
ajfa-10186	1	79	,	,	PUNCT
ajfa-10186	1	80	korea	korea	PROPN
ajfa-10186	1	81	e	e	PROPN
ajfa-10186	1	82	-	-	NOUN
ajfa-10186	1	83	mail	mail	NOUN
ajfa-10186	1	84	:	:	PUNCT
ajfa-10186	1	85	spahn@sogang.ac.kr	spahn@sogang.ac.kr	ADJ
ajfa-10186	1	86	gwangheon	gwangheon	NOUN
ajfa-10186	1	87	hong	hong	PROPN
ajfa-10186	1	88	sogang	sogang	PROPN
ajfa-10186	1	89	business	business	PROPN
ajfa-10186	1	90	school	school	PROPN
ajfa-10186	1	91	,	,	PUNCT
ajfa-10186	1	92	sogang	sogang	PROPN
ajfa-10186	1	93	university	university	PROPN
ajfa-10186	1	94	pa711	pa711	NOUN
ajfa-10186	1	95	,	,	PUNCT
ajfa-10186	1	96	35	35	NUM
ajfa-10186	1	97	baekbeom	baekbeom	NOUN
ajfa-10186	1	98	-	-	PUNCT
ajfa-10186	1	99	ro	ro	NOUN
ajfa-10186	1	100	,	,	PUNCT
ajfa-10186	1	101	mapo	mapo	NOUN
ajfa-10186	1	102	-	-	PUNCT
ajfa-10186	1	103	gu	gu	NOUN
ajfa-10186	1	104	,	,	PUNCT
ajfa-10186	1	105	seoul	seoul	PROPN
ajfa-10186	1	106	121	121	NUM
ajfa-10186	1	107	-	-	SYM
ajfa-10186	1	108	742	742	NUM
ajfa-10186	1	109	,	,	PUNCT
ajfa-10186	1	110	korea	korea	PROPN
ajfa-10186	1	111	e	e	PROPN
ajfa-10186	1	112	-	-	NOUN
ajfa-10186	1	113	mail	mail	NOUN
ajfa-10186	1	114	:	:	PUNCT
ajfa-10186	1	115	ghong@sogang.ac.kr	ghong@sogang.ac.kr	NOUN
ajfa-10186	1	116	received	receive	VERB
ajfa-10186	1	117	:	:	PUNCT
ajfa-10186	2	1	sep	sep	PROPN
ajfa-10186	2	2	.	.	PROPN
ajfa-10186	2	3	21	21	NUM
ajfa-10186	2	4	,	,	PUNCT
ajfa-10186	2	5	2016	2016	NUM
ajfa-10186	2	6	accepted	accept	VERB
ajfa-10186	2	7	:	:	PUNCT
ajfa-10186	2	8	oct	oct	PROPN
ajfa-10186	2	9	.	.	PROPN
ajfa-10186	2	10	31	31	NUM
ajfa-10186	2	11	,	,	PUNCT
ajfa-10186	2	12	2016	2016	NUM
ajfa-10186	2	13	published	publish	VERB
ajfa-10186	2	14	:	:	PUNCT
ajfa-10186	2	15	december	december	PROPN
ajfa-10186	2	16	1	1	NUM
ajfa-10186	2	17	,	,	PUNCT
ajfa-10186	2	18	2016	2016	NUM
ajfa-10186	2	19	doi:10.5296	doi:10.5296	NOUN
ajfa-10186	2	20	/	/	SYM
ajfa-10186	2	21	ajfa.v8i2.10186	ajfa.v8i2.10186	NUM
ajfa-10186	2	22	url	url	PROPN
ajfa-10186	2	23	:	:	PUNCT
ajfa-10186	2	24	http://dx.doi.org/10.5296/ajfa.v8i2.10186	http://dx.doi.org/10.5296/ajfa.v8i2.10186	PROPN
ajfa-10186	2	25	abstract	abstract	ADJ
ajfa-10186	2	26	equity	equity	NOUN
ajfa-10186	2	27	private	private	ADJ
ajfa-10186	2	28	placement	placement	NOUN
ajfa-10186	2	29	is	be	AUX
ajfa-10186	2	30	the	the	DET
ajfa-10186	2	31	newest	new	ADJ
ajfa-10186	2	32	method	method	NOUN
ajfa-10186	2	33	of	of	ADP
ajfa-10186	2	34	corporate	corporate	ADJ
ajfa-10186	2	35	financing	financing	NOUN
ajfa-10186	2	36	strategy	strategy	NOUN
ajfa-10186	2	37	.	.	PUNCT
ajfa-10186	3	1	the	the	DET
ajfa-10186	3	2	private	private	ADJ
ajfa-10186	3	3	equity	equity	NOUN
ajfa-10186	3	4	financing	financing	NOUN
ajfa-10186	3	5	under	under	ADP
ajfa-10186	3	6	sec	sec	PROPN
ajfa-10186	3	7	rule	rule	NOUN
ajfa-10186	3	8	144a	144a	PROPN
ajfa-10186	3	9	is	be	AUX
ajfa-10186	3	10	exploding	explode	VERB
ajfa-10186	3	11	and	and	CCONJ
ajfa-10186	3	12	yet	yet	ADV
ajfa-10186	3	13	not	not	PART
ajfa-10186	3	14	much	much	ADJ
ajfa-10186	3	15	is	be	AUX
ajfa-10186	3	16	known	know	VERB
ajfa-10186	3	17	about	about	ADP
ajfa-10186	3	18	the	the	DET
ajfa-10186	3	19	motivation	motivation	NOUN
ajfa-10186	3	20	behind	behind	ADP
ajfa-10186	3	21	private	private	ADJ
ajfa-10186	3	22	equity	equity	NOUN
ajfa-10186	3	23	placement	placement	NOUN
ajfa-10186	3	24	by	by	ADP
ajfa-10186	3	25	public	public	ADJ
ajfa-10186	3	26	firms	firm	NOUN
ajfa-10186	3	27	.	.	PUNCT
ajfa-10186	4	1	considering	consider	VERB
ajfa-10186	4	2	that	that	SCONJ
ajfa-10186	4	3	privately	privately	ADV
ajfa-10186	4	4	placed	place	VERB
ajfa-10186	4	5	firms	firm	NOUN
ajfa-10186	4	6	have	have	VERB
ajfa-10186	4	7	no	no	DET
ajfa-10186	4	8	bonding	bonding	NOUN
ajfa-10186	4	9	benefit	benefit	NOUN
ajfa-10186	4	10	,	,	PUNCT
ajfa-10186	4	11	private	private	ADJ
ajfa-10186	4	12	equity	equity	NOUN
ajfa-10186	4	13	investors	investor	NOUN
ajfa-10186	4	14	would	would	AUX
ajfa-10186	4	15	discount	discount	VERB
ajfa-10186	4	16	their	their	PRON
ajfa-10186	4	17	capital	capital	NOUN
ajfa-10186	4	18	by	by	ADP
ajfa-10186	4	19	the	the	DET
ajfa-10186	4	20	amount	amount	NOUN
ajfa-10186	4	21	of	of	ADP
ajfa-10186	4	22	expected	expect	VERB
ajfa-10186	4	23	consumption	consumption	NOUN
ajfa-10186	4	24	of	of	ADP
ajfa-10186	4	25	private	private	ADJ
ajfa-10186	4	26	benefits	benefit	NOUN
ajfa-10186	4	27	.	.	PUNCT
ajfa-10186	5	1	therefore	therefore	ADV
ajfa-10186	5	2	,	,	PUNCT
ajfa-10186	5	3	the	the	DET
ajfa-10186	5	4	issuers	issuer	NOUN
ajfa-10186	5	5	are	be	AUX
ajfa-10186	5	6	unable	unable	ADJ
ajfa-10186	5	7	to	to	PART
ajfa-10186	5	8	lower	lower	VERB
ajfa-10186	5	9	the	the	DET
ajfa-10186	5	10	cost	cost	NOUN
ajfa-10186	5	11	of	of	ADP
ajfa-10186	5	12	capital	capital	NOUN
ajfa-10186	5	13	nor	nor	CCONJ
ajfa-10186	5	14	increase	increase	VERB
ajfa-10186	5	15	managerial	managerial	ADJ
ajfa-10186	5	16	perquisites	perquisite	NOUN
ajfa-10186	5	17	.	.	PUNCT
ajfa-10186	6	1	one	one	NUM
ajfa-10186	6	2	possible	possible	ADJ
ajfa-10186	6	3	motivation	motivation	NOUN
ajfa-10186	6	4	for	for	ADP
ajfa-10186	6	5	private	private	ADJ
ajfa-10186	6	6	placement	placement	NOUN
ajfa-10186	6	7	then	then	ADV
ajfa-10186	6	8	is	be	AUX
ajfa-10186	6	9	that	that	SCONJ
ajfa-10186	6	10	firms	firm	NOUN
ajfa-10186	6	11	offering	offer	VERB
ajfa-10186	6	12	the	the	DET
ajfa-10186	6	13	private	private	ADJ
ajfa-10186	6	14	dr	dr	PROPN
ajfa-10186	6	15	increase	increase	VERB
ajfa-10186	6	16	their	their	PRON
ajfa-10186	6	17	private	private	ADJ
ajfa-10186	6	18	benefits	benefit	NOUN
ajfa-10186	6	19	with	with	ADP
ajfa-10186	6	20	the	the	DET
ajfa-10186	6	21	capital	capital	NOUN
ajfa-10186	6	22	raised	raise	VERB
ajfa-10186	6	23	subsequently	subsequently	ADV
ajfa-10186	6	24	.	.	PUNCT
ajfa-10186	7	1	our	our	PRON
ajfa-10186	7	2	approach	approach	NOUN
ajfa-10186	7	3	is	be	AUX
ajfa-10186	7	4	new	new	ADJ
ajfa-10186	7	5	to	to	ADP
ajfa-10186	7	6	literature	literature	NOUN
ajfa-10186	7	7	by	by	ADP
ajfa-10186	7	8	incorporating	incorporate	VERB
ajfa-10186	7	9	both	both	DET
ajfa-10186	7	10	benefit	benefit	NOUN
ajfa-10186	7	11	(	(	PUNCT
ajfa-10186	7	12	conceal	conceal	VERB
ajfa-10186	7	13	private	private	ADJ
ajfa-10186	7	14	information	information	NOUN
ajfa-10186	7	15	)	)	PUNCT
ajfa-10186	7	16	and	and	CCONJ
ajfa-10186	7	17	cost	cost	NOUN
ajfa-10186	7	18	(	(	PUNCT
ajfa-10186	7	19	informational	informational	ADJ
ajfa-10186	7	20	monopoly	monopoly	NOUN
ajfa-10186	7	21	)	)	PUNCT
ajfa-10186	7	22	associated	associate	VERB
ajfa-10186	7	23	with	with	ADP
ajfa-10186	7	24	private	private	ADJ
ajfa-10186	7	25	equity	equity	NOUN
ajfa-10186	7	26	financing	financing	NOUN
ajfa-10186	7	27	.	.	PUNCT
ajfa-10186	8	1	keywords	keyword	NOUN
ajfa-10186	8	2	:	:	PUNCT
ajfa-10186	8	3	private	private	ADJ
ajfa-10186	8	4	equity	equity	NOUN
ajfa-10186	8	5	offering	offering	NOUN
ajfa-10186	8	6	,	,	PUNCT
ajfa-10186	8	7	rule	rule	NOUN
ajfa-10186	8	8	144a	144a	NUM
ajfa-10186	8	9	,	,	PUNCT
ajfa-10186	8	10	cross	cross	NOUN
ajfa-10186	8	11	listing	listing	NOUN
ajfa-10186	8	12	,	,	PUNCT
ajfa-10186	8	13	firm	firm	ADJ
ajfa-10186	8	14	performance	performance	NOUN
ajfa-10186	8	15	,	,	PUNCT
ajfa-10186	8	16	investor	investor	NOUN
ajfa-10186	8	17	rights	right	NOUN
ajfa-10186	8	18	,	,	PUNCT
ajfa-10186	8	19	bonding	bonding	NOUN
ajfa-10186	8	20	,	,	PUNCT
ajfa-10186	8	21	monitoring	monitor	VERB
ajfa-10186	8	22	jel	jel	PROPN
ajfa-10186	8	23	:	:	PUNCT
ajfa-10186	8	24	g15	g15	PROPN
ajfa-10186	8	25	,	,	PUNCT
ajfa-10186	8	26	g24	g24	NOUN
ajfa-10186	8	27	,	,	PUNCT
ajfa-10186	8	28	g34	g34	PROPN
ajfa-10186	8	29	asian	asian	PROPN
ajfa-10186	8	30	journal	journal	PROPN
ajfa-10186	8	31	of	of	ADP
ajfa-10186	8	32	finance	finance	PROPN
ajfa-10186	8	33	&	&	CCONJ
ajfa-10186	8	34	accounting	accounting	PROPN
ajfa-10186	8	35	issn	issn	PROPN
ajfa-10186	8	36	1946	1946	NUM
ajfa-10186	8	37	-	-	PUNCT
ajfa-10186	8	38	052x	052x	PROPN
ajfa-10186	8	39	2016	2016	NUM
ajfa-10186	8	40	,	,	PUNCT
ajfa-10186	8	41	vol	vol	NOUN
ajfa-10186	8	42	.	.	PROPN
ajfa-10186	8	43	8	8	NUM
ajfa-10186	8	44	,	,	PUNCT
ajfa-10186	8	45	no	no	INTJ
ajfa-10186	8	46	.	.	NOUN
ajfa-10186	8	47	2	2	NUM
ajfa-10186	8	48	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	8	49	126	126	NUM
ajfa-10186	8	50	1	1	NUM
ajfa-10186	8	51	.	.	PUNCT
ajfa-10186	9	1	introduction	introduction	NOUN
ajfa-10186	9	2	new	new	ADJ
ajfa-10186	9	3	capital	capital	NOUN
ajfa-10186	9	4	raising	raising	NOUN
ajfa-10186	9	5	is	be	AUX
ajfa-10186	9	6	one	one	NUM
ajfa-10186	9	7	of	of	ADP
ajfa-10186	9	8	reason	reason	NOUN
ajfa-10186	9	9	why	why	SCONJ
ajfa-10186	9	10	non	non	ADJ
ajfa-10186	9	11	-	-	ADJ
ajfa-10186	9	12	us	us	ADJ
ajfa-10186	9	13	firms	firm	NOUN
ajfa-10186	9	14	listed	list	VERB
ajfa-10186	9	15	in	in	ADP
ajfa-10186	9	16	the	the	DET
ajfa-10186	9	17	us	us	PROPN
ajfa-10186	9	18	exchange	exchange	NOUN
ajfa-10186	9	19	.	.	PUNCT
ajfa-10186	10	1	non	non	ADJ
ajfa-10186	10	2	-	-	ADJ
ajfa-10186	10	3	us	us	ADJ
ajfa-10186	10	4	firms	firm	NOUN
ajfa-10186	10	5	can	can	AUX
ajfa-10186	10	6	raise	raise	VERB
ajfa-10186	10	7	equity	equity	NOUN
ajfa-10186	10	8	capital	capital	NOUN
ajfa-10186	10	9	in	in	ADP
ajfa-10186	10	10	the	the	DET
ajfa-10186	10	11	us	us	PROPN
ajfa-10186	10	12	either	either	CCONJ
ajfa-10186	10	13	through	through	ADP
ajfa-10186	10	14	public	public	ADJ
ajfa-10186	10	15	offerings	offering	NOUN
ajfa-10186	10	16	(	(	PUNCT
ajfa-10186	10	17	levl	levl	VERB
ajfa-10186	10	18	iii	iii	NUM
ajfa-10186	10	19	adrs	adr	NOUN
ajfa-10186	10	20	)	)	PUNCT
ajfa-10186	10	21	or	or	CCONJ
ajfa-10186	10	22	through	through	ADP
ajfa-10186	10	23	private	private	ADJ
ajfa-10186	10	24	offerings	offering	NOUN
ajfa-10186	10	25	(	(	PUNCT
ajfa-10186	10	26	rule	rule	NOUN
ajfa-10186	10	27	144a	144a	PROPN
ajfa-10186	10	28	)	)	PUNCT
ajfa-10186	10	29	.	.	PUNCT
ajfa-10186	11	1	level	level	NOUN
ajfa-10186	11	2	iii	iii	NUM
ajfa-10186	11	3	adrs	adrs	PROPN
ajfa-10186	11	4	requires	require	VERB
ajfa-10186	11	5	full	full	ADJ
ajfa-10186	11	6	registration	registration	NOUN
ajfa-10186	11	7	and	and	CCONJ
ajfa-10186	11	8	disclosure	disclosure	NOUN
ajfa-10186	11	9	of	of	ADP
ajfa-10186	11	10	financial	financial	ADJ
ajfa-10186	11	11	statements	statement	NOUN
ajfa-10186	11	12	to	to	ADP
ajfa-10186	11	13	sec	sec	PROPN
ajfa-10186	11	14	and	and	CCONJ
ajfa-10186	11	15	compliance	compliance	NOUN
ajfa-10186	11	16	with	with	ADP
ajfa-10186	11	17	us	us	PROPN
ajfa-10186	11	18	gaap	gaap	PROPN
ajfa-10186	11	19	.	.	PUNCT
ajfa-10186	12	1	rule	rule	VERB
ajfa-10186	12	2	144a	144a	ADJ
ajfa-10186	12	3	offerings	offering	NOUN
ajfa-10186	12	4	,	,	PUNCT
ajfa-10186	12	5	however	however	ADV
ajfa-10186	12	6	,	,	PUNCT
ajfa-10186	12	7	are	be	AUX
ajfa-10186	12	8	exempt	exempt	ADJ
ajfa-10186	12	9	from	from	ADP
ajfa-10186	12	10	sec	sec	PROPN
ajfa-10186	12	11	registration	registration	NOUN
ajfa-10186	12	12	and	and	CCONJ
ajfa-10186	12	13	compliance	compliance	NOUN
ajfa-10186	12	14	with	with	ADP
ajfa-10186	12	15	us	us	PROPN
ajfa-10186	12	16	gaap	gaap	PROPN
ajfa-10186	12	17	.	.	PUNCT
ajfa-10186	13	1	accordingly	accordingly	ADV
ajfa-10186	13	2	,	,	PUNCT
ajfa-10186	13	3	rule	rule	VERB
ajfa-10186	13	4	144a	144a	ADJ
ajfa-10186	13	5	securities	security	NOUN
ajfa-10186	13	6	are	be	AUX
ajfa-10186	13	7	available	available	ADJ
ajfa-10186	13	8	only	only	ADV
ajfa-10186	13	9	to	to	ADP
ajfa-10186	13	10	qualified	qualified	ADJ
ajfa-10186	13	11	institutional	institutional	ADJ
ajfa-10186	13	12	buyers	buyer	NOUN
ajfa-10186	13	13	(	(	PUNCT
ajfa-10186	13	14	qibs	qibs	PROPN
ajfa-10186	13	15	)	)	PUNCT
ajfa-10186	13	16	and	and	CCONJ
ajfa-10186	13	17	can	can	AUX
ajfa-10186	13	18	be	be	AUX
ajfa-10186	13	19	traded	trade	VERB
ajfa-10186	13	20	in	in	ADP
ajfa-10186	13	21	the	the	DET
ajfa-10186	13	22	portal	portal	ADJ
ajfa-10186	13	23	(	(	PUNCT
ajfa-10186	13	24	private	private	ADJ
ajfa-10186	13	25	offerings	offering	NOUN
ajfa-10186	13	26	,	,	PUNCT
ajfa-10186	13	27	resale	resale	NOUN
ajfa-10186	13	28	and	and	CCONJ
ajfa-10186	13	29	trading	trading	NOUN
ajfa-10186	13	30	through	through	ADP
ajfa-10186	13	31	automated	automate	VERB
ajfa-10186	13	32	linkages	linkage	NOUN
ajfa-10186	13	33	)	)	PUNCT
ajfa-10186	13	34	system	system	NOUN
ajfa-10186	13	35	.	.	PUNCT
ajfa-10186	14	1	since	since	SCONJ
ajfa-10186	14	2	1990	1990	NUM
ajfa-10186	14	3	,	,	PUNCT
ajfa-10186	14	4	increasing	increase	VERB
ajfa-10186	14	5	numbers	number	NOUN
ajfa-10186	14	6	of	of	ADP
ajfa-10186	14	7	foreign	foreign	ADJ
ajfa-10186	14	8	companies	company	NOUN
ajfa-10186	14	9	are	be	AUX
ajfa-10186	14	10	raising	raise	VERB
ajfa-10186	14	11	equity	equity	NOUN
ajfa-10186	14	12	capital	capital	NOUN
ajfa-10186	14	13	in	in	ADP
ajfa-10186	14	14	the	the	DET
ajfa-10186	14	15	u.s	u.s	PROPN
ajfa-10186	14	16	capital	capital	NOUN
ajfa-10186	14	17	market	market	NOUN
ajfa-10186	14	18	through	through	ADP
ajfa-10186	14	19	rule	rule	NOUN
ajfa-10186	14	20	144a	144a	PROPN
ajfa-10186	14	21	private	private	ADJ
ajfa-10186	14	22	equity	equity	NOUN
ajfa-10186	14	23	placement	placement	NOUN
ajfa-10186	14	24	in	in	ADP
ajfa-10186	14	25	the	the	DET
ajfa-10186	14	26	us	us	PROPN
ajfa-10186	14	27	.	.	PUNCT
ajfa-10186	15	1	between	between	ADP
ajfa-10186	15	2	1993	1993	NUM
ajfa-10186	15	3	and	and	CCONJ
ajfa-10186	15	4	2002	2002	NUM
ajfa-10186	15	5	,	,	PUNCT
ajfa-10186	15	6	$	$	SYM
ajfa-10186	15	7	117.1	117.1	NUM
ajfa-10186	15	8	billion	billion	NUM
ajfa-10186	15	9	was	be	AUX
ajfa-10186	15	10	raised	raise	VERB
ajfa-10186	15	11	in	in	ADP
ajfa-10186	15	12	557	557	NUM
ajfa-10186	15	13	new	new	ADJ
ajfa-10186	15	14	public	public	ADJ
ajfa-10186	15	15	depositary	depositary	ADJ
ajfa-10186	15	16	receipt	receipt	NOUN
ajfa-10186	15	17	(	(	PUNCT
ajfa-10186	15	18	dr	dr	NOUN
ajfa-10186	15	19	)	)	PUNCT
ajfa-10186	15	20	offerings	offering	NOUN
ajfa-10186	15	21	and	and	CCONJ
ajfa-10186	15	22	$	$	SYM
ajfa-10186	15	23	41	41	NUM
ajfa-10186	15	24	billion	billion	NUM
ajfa-10186	15	25	was	be	AUX
ajfa-10186	15	26	raised	raise	VERB
ajfa-10186	15	27	in	in	ADP
ajfa-10186	15	28	486	486	NUM
ajfa-10186	15	29	new	new	ADJ
ajfa-10186	15	30	private	private	ADJ
ajfa-10186	15	31	depositary	depositary	ADJ
ajfa-10186	15	32	receipt	receipt	NOUN
ajfa-10186	15	33	(	(	PUNCT
ajfa-10186	15	34	dr	dr	PROPN
ajfa-10186	15	35	)	)	PUNCT
ajfa-10186	15	36	offerings.i	offerings.i	NOUN
ajfa-10186	16	1	the	the	DET
ajfa-10186	16	2	majority	majority	NOUN
ajfa-10186	16	3	of	of	ADP
ajfa-10186	16	4	non	non	ADJ
ajfa-10186	16	5	-	-	ADJ
ajfa-10186	16	6	us	us	ADJ
ajfa-10186	16	7	firms	firm	NOUN
ajfa-10186	16	8	in	in	ADP
ajfa-10186	16	9	rule	rule	NOUN
ajfa-10186	16	10	144a	144a	PROPN
ajfa-10186	16	11	private	private	ADJ
ajfa-10186	16	12	equity	equity	NOUN
ajfa-10186	16	13	market	market	NOUN
ajfa-10186	16	14	is	be	AUX
ajfa-10186	16	15	from	from	ADP
ajfa-10186	16	16	developing	develop	VERB
ajfa-10186	16	17	countries	country	NOUN
ajfa-10186	16	18	.	.	PUNCT
ajfa-10186	17	1	in	in	ADP
ajfa-10186	17	2	2002	2002	NUM
ajfa-10186	17	3	,	,	PUNCT
ajfa-10186	17	4	companies	company	NOUN
ajfa-10186	17	5	from	from	ADP
ajfa-10186	17	6	taiwan	taiwan	PROPN
ajfa-10186	17	7	,	,	PUNCT
ajfa-10186	17	8	mexico	mexico	PROPN
ajfa-10186	17	9	,	,	PUNCT
ajfa-10186	17	10	russia	russia	PROPN
ajfa-10186	17	11	,	,	PUNCT
ajfa-10186	17	12	india	india	PROPN
ajfa-10186	17	13	,	,	PUNCT
ajfa-10186	17	14	and	and	CCONJ
ajfa-10186	17	15	korea	korea	PROPN
ajfa-10186	17	16	represent	represent	VERB
ajfa-10186	17	17	more	more	ADJ
ajfa-10186	17	18	than	than	ADP
ajfa-10186	17	19	90	90	NUM
ajfa-10186	17	20	%	%	NOUN
ajfa-10186	17	21	of	of	ADP
ajfa-10186	17	22	new	new	ADJ
ajfa-10186	17	23	private	private	ADJ
ajfa-10186	17	24	dr	dr	PROPN
ajfa-10186	17	25	program	program	NOUN
ajfa-10186	17	26	in	in	ADP
ajfa-10186	17	27	terms	term	NOUN
ajfa-10186	17	28	of	of	ADP
ajfa-10186	17	29	capital	capital	NOUN
ajfa-10186	17	30	raised	raise	VERB
ajfa-10186	17	31	and	and	CCONJ
ajfa-10186	17	32	the	the	DET
ajfa-10186	17	33	number	number	NOUN
ajfa-10186	17	34	of	of	ADP
ajfa-10186	17	35	issuance	issuance	NOUN
ajfa-10186	17	36	.	.	PUNCT
ajfa-10186	18	1	benefits	benefit	NOUN
ajfa-10186	18	2	associated	associate	VERB
ajfa-10186	18	3	with	with	ADP
ajfa-10186	18	4	cross	cross	NOUN
ajfa-10186	18	5	-	-	ADJ
ajfa-10186	18	6	listing	listing	ADJ
ajfa-10186	18	7	,	,	PUNCT
ajfa-10186	18	8	in	in	ADP
ajfa-10186	18	9	general	general	ADJ
ajfa-10186	18	10	,	,	PUNCT
ajfa-10186	18	11	include	include	VERB
ajfa-10186	18	12	the	the	DET
ajfa-10186	18	13	reduction	reduction	NOUN
ajfa-10186	18	14	of	of	ADP
ajfa-10186	18	15	cost	cost	NOUN
ajfa-10186	18	16	of	of	ADP
ajfa-10186	18	17	capital	capital	NOUN
ajfa-10186	18	18	and	and	CCONJ
ajfa-10186	18	19	the	the	DET
ajfa-10186	18	20	increase	increase	NOUN
ajfa-10186	18	21	of	of	ADP
ajfa-10186	18	22	liquidity	liquidity	NOUN
ajfa-10186	18	23	in	in	ADP
ajfa-10186	18	24	the	the	DET
ajfa-10186	18	25	home	home	NOUN
ajfa-10186	18	26	market	market	NOUN
ajfa-10186	18	27	through	through	ADP
ajfa-10186	18	28	an	an	DET
ajfa-10186	18	29	enlarged	enlarge	VERB
ajfa-10186	18	30	investor	investor	NOUN
ajfa-10186	18	31	base	base	NOUN
ajfa-10186	18	32	(	(	PUNCT
ajfa-10186	18	33	foerster	foerster	NOUN
ajfa-10186	18	34	and	and	CCONJ
ajfa-10186	18	35	karolyi	karolyi	NOUN
ajfa-10186	18	36	,	,	PUNCT
ajfa-10186	18	37	2000	2000	NUM
ajfa-10186	18	38	)	)	PUNCT
ajfa-10186	18	39	and	and	CCONJ
ajfa-10186	18	40	reduced	reduce	VERB
ajfa-10186	18	41	information	information	NOUN
ajfa-10186	18	42	asymmetry	asymmetry	NOUN
ajfa-10186	18	43	with	with	ADP
ajfa-10186	18	44	higher	high	ADJ
ajfa-10186	18	45	disclosure	disclosure	NOUN
ajfa-10186	18	46	requirement	requirement	NOUN
ajfa-10186	18	47	(	(	PUNCT
ajfa-10186	18	48	hertzel	hertzel	ADJ
ajfa-10186	18	49	and	and	CCONJ
ajfa-10186	18	50	smith	smith	PROPN
ajfa-10186	18	51	,	,	PUNCT
ajfa-10186	18	52	1993	1993	NUM
ajfa-10186	18	53	)	)	PUNCT
ajfa-10186	18	54	.	.	PUNCT
ajfa-10186	19	1	more	more	ADV
ajfa-10186	19	2	recently	recently	ADV
ajfa-10186	19	3	,	,	PUNCT
ajfa-10186	19	4	reese	reese	PROPN
ajfa-10186	19	5	and	and	CCONJ
ajfa-10186	19	6	weisbach	weisbach	NOUN
ajfa-10186	19	7	(	(	PUNCT
ajfa-10186	19	8	2002	2002	NUM
ajfa-10186	19	9	)	)	PUNCT
ajfa-10186	19	10	,	,	PUNCT
ajfa-10186	19	11	and	and	CCONJ
ajfa-10186	19	12	doidge	doidge	NOUN
ajfa-10186	19	13	,	,	PUNCT
ajfa-10186	19	14	karolyi	karolyi	NOUN
ajfa-10186	19	15	,	,	PUNCT
ajfa-10186	19	16	and	and	CCONJ
ajfa-10186	19	17	stultz	stultz	PROPN
ajfa-10186	19	18	(	(	PUNCT
ajfa-10186	19	19	2004	2004	NUM
ajfa-10186	19	20	)	)	PUNCT
ajfa-10186	19	21	argue	argue	VERB
ajfa-10186	19	22	that	that	SCONJ
ajfa-10186	19	23	a	a	DET
ajfa-10186	19	24	us	we	PRON
ajfa-10186	19	25	listing	list	VERB
ajfa-10186	19	26	provides	provide	VERB
ajfa-10186	19	27	bonding	bonding	NOUN
ajfa-10186	19	28	and	and	CCONJ
ajfa-10186	19	29	monitoring	monitoring	NOUN
ajfa-10186	19	30	benefit	benefit	NOUN
ajfa-10186	19	31	to	to	ADP
ajfa-10186	19	32	cross	cross	ADJ
ajfa-10186	19	33	-	-	ADJ
ajfa-10186	19	34	listed	list	VERB
ajfa-10186	19	35	firms	firm	NOUN
ajfa-10186	19	36	.	.	PUNCT
ajfa-10186	20	1	they	they	PRON
ajfa-10186	20	2	argue	argue	VERB
ajfa-10186	20	3	that	that	SCONJ
ajfa-10186	20	4	the	the	DET
ajfa-10186	20	5	disclosure	disclosure	NOUN
ajfa-10186	20	6	and	and	CCONJ
ajfa-10186	20	7	accounting	accounting	NOUN
ajfa-10186	20	8	compliance	compliance	NOUN
ajfa-10186	20	9	requirements	requirement	NOUN
ajfa-10186	20	10	for	for	ADP
ajfa-10186	20	11	a	a	DET
ajfa-10186	20	12	us	us	PROPN
ajfa-10186	20	13	exchange	exchange	NOUN
ajfa-10186	20	14	listing	list	VERB
ajfa-10186	20	15	enhance	enhance	VERB
ajfa-10186	20	16	the	the	DET
ajfa-10186	20	17	protection	protection	NOUN
ajfa-10186	20	18	of	of	ADP
ajfa-10186	20	19	the	the	DET
ajfa-10186	20	20	minority	minority	NOUN
ajfa-10186	20	21	shareholders	shareholder	NOUN
ajfa-10186	20	22	and	and	CCONJ
ajfa-10186	20	23	reduce	reduce	VERB
ajfa-10186	20	24	the	the	DET
ajfa-10186	20	25	agency	agency	NOUN
ajfa-10186	20	26	costs	cost	NOUN
ajfa-10186	20	27	of	of	ADP
ajfa-10186	20	28	controlling	control	VERB
ajfa-10186	20	29	shareholders	shareholder	NOUN
ajfa-10186	20	30	.	.	PUNCT
ajfa-10186	21	1	the	the	DET
ajfa-10186	21	2	bonding	bonding	NOUN
ajfa-10186	21	3	and	and	CCONJ
ajfa-10186	21	4	monitoring	monitoring	NOUN
ajfa-10186	21	5	benefit	benefit	NOUN
ajfa-10186	21	6	can	can	AUX
ajfa-10186	21	7	be	be	AUX
ajfa-10186	21	8	applicable	applicable	ADJ
ajfa-10186	21	9	to	to	ADP
ajfa-10186	21	10	public	public	ADJ
ajfa-10186	21	11	exchange	exchange	NOUN
ajfa-10186	21	12	listings	listing	NOUN
ajfa-10186	21	13	which	which	PRON
ajfa-10186	21	14	require	require	VERB
ajfa-10186	21	15	registration	registration	NOUN
ajfa-10186	21	16	and	and	CCONJ
ajfa-10186	21	17	compliance	compliance	NOUN
ajfa-10186	21	18	with	with	ADP
ajfa-10186	21	19	the	the	DET
ajfa-10186	21	20	us	us	PROPN
ajfa-10186	21	21	gaap	gaap	PROPN
ajfa-10186	21	22	.	.	PUNCT
ajfa-10186	22	1	however	however	ADV
ajfa-10186	22	2	,	,	PUNCT
ajfa-10186	22	3	with	with	ADP
ajfa-10186	22	4	its	its	PRON
ajfa-10186	22	5	exemption	exemption	NOUN
ajfa-10186	22	6	from	from	ADP
ajfa-10186	22	7	registration	registration	NOUN
ajfa-10186	22	8	,	,	PUNCT
ajfa-10186	22	9	non	non	ADJ
ajfa-10186	22	10	-	-	ADJ
ajfa-10186	22	11	us	us	ADJ
ajfa-10186	22	12	firms	firm	NOUN
ajfa-10186	22	13	in	in	ADP
ajfa-10186	22	14	rule	rule	NOUN
ajfa-10186	22	15	144a	144a	ADJ
ajfa-10186	22	16	private	private	ADJ
ajfa-10186	22	17	market	market	NOUN
ajfa-10186	22	18	are	be	AUX
ajfa-10186	22	19	unlikely	unlikely	ADJ
ajfa-10186	22	20	to	to	PART
ajfa-10186	22	21	benefit	benefit	VERB
ajfa-10186	22	22	from	from	ADP
ajfa-10186	22	23	monitoring	monitor	VERB
ajfa-10186	22	24	from	from	ADP
ajfa-10186	22	25	higher	high	ADJ
ajfa-10186	22	26	investor	investor	NOUN
ajfa-10186	22	27	protection	protection	NOUN
ajfa-10186	22	28	.	.	PUNCT
ajfa-10186	23	1	because	because	SCONJ
ajfa-10186	23	2	the	the	DET
ajfa-10186	23	3	resales	resale	NOUN
ajfa-10186	23	4	of	of	ADP
ajfa-10186	23	5	the	the	DET
ajfa-10186	23	6	securities	security	NOUN
ajfa-10186	23	7	are	be	AUX
ajfa-10186	23	8	restricted	restrict	VERB
ajfa-10186	23	9	to	to	ADP
ajfa-10186	23	10	qibs	qib	NOUN
ajfa-10186	23	11	and	and	CCONJ
ajfa-10186	23	12	privately	privately	ADV
ajfa-10186	23	13	placed	place	VERB
ajfa-10186	23	14	equity	equity	NOUN
ajfa-10186	23	15	is	be	AUX
ajfa-10186	23	16	trading	trade	VERB
ajfa-10186	23	17	at	at	ADP
ajfa-10186	23	18	substantial	substantial	ADJ
ajfa-10186	23	19	discount	discount	NOUN
ajfa-10186	23	20	,	,	PUNCT
ajfa-10186	23	21	other	other	ADJ
ajfa-10186	23	22	commonly	commonly	ADV
ajfa-10186	23	23	argued	argue	VERB
ajfa-10186	23	24	cross	cross	ADJ
ajfa-10186	23	25	-	-	ADJ
ajfa-10186	23	26	listing	list	VERB
ajfa-10186	23	27	benefits	benefit	NOUN
ajfa-10186	23	28	such	such	ADJ
ajfa-10186	23	29	as	as	ADP
ajfa-10186	23	30	liquidity	liquidity	NOUN
ajfa-10186	23	31	effects	effect	NOUN
ajfa-10186	23	32	and	and	CCONJ
ajfa-10186	23	33	the	the	DET
ajfa-10186	23	34	reduction	reduction	NOUN
ajfa-10186	23	35	of	of	ADP
ajfa-10186	23	36	cost	cost	NOUN
ajfa-10186	23	37	of	of	ADP
ajfa-10186	23	38	capital	capital	NOUN
ajfa-10186	23	39	are	be	AUX
ajfa-10186	23	40	unlikely	unlikely	ADJ
ajfa-10186	23	41	to	to	PART
ajfa-10186	23	42	be	be	AUX
ajfa-10186	23	43	applicable	applicable	ADJ
ajfa-10186	23	44	to	to	PART
ajfa-10186	23	45	rule	rule	VERB
ajfa-10186	23	46	144a	144a	ADJ
ajfa-10186	23	47	private	private	ADJ
ajfa-10186	23	48	offerings	offering	NOUN
ajfa-10186	23	49	.	.	PUNCT
ajfa-10186	24	1	we	we	PRON
ajfa-10186	24	2	explore	explore	VERB
ajfa-10186	24	3	the	the	DET
ajfa-10186	24	4	motive	motive	NOUN
ajfa-10186	24	5	for	for	SCONJ
ajfa-10186	24	6	non	non	ADJ
ajfa-10186	24	7	-	-	ADJ
ajfa-10186	24	8	us	us	ADJ
ajfa-10186	24	9	firms	firm	NOUN
ajfa-10186	24	10	to	to	PART
ajfa-10186	24	11	raise	raise	VERB
ajfa-10186	24	12	equity	equity	NOUN
ajfa-10186	24	13	capital	capital	NOUN
ajfa-10186	24	14	in	in	ADP
ajfa-10186	24	15	the	the	DET
ajfa-10186	24	16	us	we	PRON
ajfa-10186	24	17	privately	privately	ADV
ajfa-10186	24	18	.	.	PUNCT
ajfa-10186	25	1	reese	reese	PROPN
ajfa-10186	25	2	and	and	CCONJ
ajfa-10186	25	3	weisbach	weisbach	NOUN
ajfa-10186	25	4	(	(	PUNCT
ajfa-10186	25	5	2002	2002	NUM
ajfa-10186	25	6	)	)	PUNCT
ajfa-10186	25	7	find	find	VERB
ajfa-10186	25	8	that	that	SCONJ
ajfa-10186	25	9	firms	firm	NOUN
ajfa-10186	25	10	from	from	ADP
ajfa-10186	25	11	weak	weak	ADJ
ajfa-10186	25	12	investor	investor	NOUN
ajfa-10186	25	13	protection	protection	NOUN
ajfa-10186	25	14	are	be	AUX
ajfa-10186	25	15	less	less	ADV
ajfa-10186	25	16	likely	likely	ADJ
ajfa-10186	25	17	to	to	PART
ajfa-10186	25	18	cross	cross	VERB
ajfa-10186	25	19	-	-	NOUN
ajfa-10186	25	20	list	list	NOUN
ajfa-10186	25	21	in	in	ADP
ajfa-10186	25	22	the	the	DET
ajfa-10186	25	23	public	public	ADJ
ajfa-10186	25	24	us	us	PROPN
ajfa-10186	25	25	exchange	exchange	NOUN
ajfa-10186	25	26	in	in	ADP
ajfa-10186	25	27	afraid	afraid	ADJ
ajfa-10186	25	28	of	of	ADP
ajfa-10186	25	29	the	the	DET
ajfa-10186	25	30	potential	potential	ADJ
ajfa-10186	25	31	loss	loss	NOUN
ajfa-10186	25	32	of	of	ADP
ajfa-10186	25	33	private	private	ADJ
ajfa-10186	25	34	benefits	benefit	NOUN
ajfa-10186	25	35	of	of	ADP
ajfa-10186	25	36	control	control	NOUN
ajfa-10186	25	37	.	.	PUNCT
ajfa-10186	26	1	the	the	DET
ajfa-10186	26	2	private	private	ADJ
ajfa-10186	26	3	dr	dr	PROPN
ajfa-10186	26	4	program	program	PROPN
ajfa-10186	26	5	,	,	PUNCT
ajfa-10186	26	6	however	however	ADV
ajfa-10186	26	7	,	,	PUNCT
ajfa-10186	26	8	is	be	AUX
ajfa-10186	26	9	dominated	dominate	VERB
ajfa-10186	26	10	by	by	ADP
ajfa-10186	26	11	firms	firm	NOUN
ajfa-10186	26	12	from	from	ADP
ajfa-10186	26	13	countries	country	NOUN
ajfa-10186	26	14	with	with	ADP
ajfa-10186	26	15	weak	weak	ADJ
ajfa-10186	26	16	investor	investor	NOUN
ajfa-10186	26	17	protection	protection	NOUN
ajfa-10186	26	18	.	.	PUNCT
ajfa-10186	27	1	considering	consider	VERB
ajfa-10186	27	2	that	that	SCONJ
ajfa-10186	27	3	these	these	DET
ajfa-10186	27	4	firms	firm	NOUN
ajfa-10186	27	5	will	will	AUX
ajfa-10186	27	6	not	not	PART
ajfa-10186	27	7	have	have	VERB
ajfa-10186	27	8	bonding	bonding	NOUN
ajfa-10186	27	9	benefit	benefit	NOUN
ajfa-10186	27	10	,	,	PUNCT
ajfa-10186	27	11	private	private	ADJ
ajfa-10186	27	12	equity	equity	NOUN
ajfa-10186	27	13	investors	investor	NOUN
ajfa-10186	27	14	would	would	AUX
ajfa-10186	27	15	discount	discount	VERB
ajfa-10186	27	16	their	their	PRON
ajfa-10186	27	17	capital	capital	NOUN
ajfa-10186	27	18	by	by	ADP
ajfa-10186	27	19	the	the	DET
ajfa-10186	27	20	amount	amount	NOUN
ajfa-10186	27	21	of	of	ADP
ajfa-10186	27	22	expected	expect	VERB
ajfa-10186	27	23	consumption	consumption	NOUN
ajfa-10186	27	24	of	of	ADP
ajfa-10186	27	25	private	private	ADJ
ajfa-10186	27	26	benefits	benefit	NOUN
ajfa-10186	27	27	and	and	CCONJ
ajfa-10186	27	28	the	the	DET
ajfa-10186	27	29	issuers	issuer	NOUN
ajfa-10186	27	30	will	will	AUX
ajfa-10186	27	31	not	not	PART
ajfa-10186	27	32	lower	lower	VERB
ajfa-10186	27	33	their	their	PRON
ajfa-10186	27	34	cost	cost	NOUN
ajfa-10186	27	35	of	of	ADP
ajfa-10186	27	36	capital	capital	NOUN
ajfa-10186	27	37	or	or	CCONJ
ajfa-10186	27	38	increase	increase	VERB
ajfa-10186	27	39	perquisites	perquisite	NOUN
ajfa-10186	27	40	.	.	PUNCT
ajfa-10186	28	1	however	however	ADV
ajfa-10186	28	2	,	,	PUNCT
ajfa-10186	28	3	it	it	PRON
ajfa-10186	28	4	is	be	AUX
ajfa-10186	28	5	possible	possible	ADJ
ajfa-10186	28	6	that	that	SCONJ
ajfa-10186	28	7	firms	firm	NOUN
ajfa-10186	28	8	offering	offer	VERB
ajfa-10186	28	9	the	the	DET
ajfa-10186	28	10	private	private	ADJ
ajfa-10186	28	11	dr	dr	PROPN
ajfa-10186	28	12	increase	increase	VERB
ajfa-10186	28	13	their	their	PRON
ajfa-10186	28	14	private	private	ADJ
ajfa-10186	28	15	benefits	benefit	NOUN
ajfa-10186	28	16	with	with	ADP
ajfa-10186	28	17	the	the	DET
ajfa-10186	28	18	capital	capital	NOUN
ajfa-10186	28	19	raised	raise	VERB
ajfa-10186	28	20	subsequently	subsequently	ADV
ajfa-10186	28	21	.	.	PUNCT
ajfa-10186	29	1	asian	asian	ADJ
ajfa-10186	29	2	journal	journal	PROPN
ajfa-10186	29	3	of	of	ADP
ajfa-10186	29	4	finance	finance	PROPN
ajfa-10186	29	5	&	&	CCONJ
ajfa-10186	29	6	accounting	accounting	PROPN
ajfa-10186	29	7	issn	issn	PROPN
ajfa-10186	29	8	1946	1946	NUM
ajfa-10186	29	9	-	-	PUNCT
ajfa-10186	29	10	052x	052x	PROPN
ajfa-10186	29	11	2016	2016	NUM
ajfa-10186	29	12	,	,	PUNCT
ajfa-10186	29	13	vol	vol	NOUN
ajfa-10186	29	14	.	.	PROPN
ajfa-10186	29	15	8	8	NUM
ajfa-10186	29	16	,	,	PUNCT
ajfa-10186	29	17	no	no	INTJ
ajfa-10186	29	18	.	.	NOUN
ajfa-10186	29	19	2	2	NUM
ajfa-10186	29	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	29	21	127	127	NUM
ajfa-10186	29	22	reese	reese	NOUN
ajfa-10186	29	23	and	and	CCONJ
ajfa-10186	29	24	weisbach	weisbach	NOUN
ajfa-10186	29	25	(	(	PUNCT
ajfa-10186	29	26	2002	2002	NUM
ajfa-10186	29	27	)	)	PUNCT
ajfa-10186	29	28	also	also	ADV
ajfa-10186	29	29	document	document	VERB
ajfa-10186	29	30	the	the	DET
ajfa-10186	29	31	increase	increase	NOUN
ajfa-10186	29	32	in	in	ADP
ajfa-10186	29	33	equity	equity	NOUN
ajfa-10186	29	34	issues	issue	NOUN
ajfa-10186	29	35	following	follow	VERB
ajfa-10186	29	36	cross	cross	ADJ
ajfa-10186	29	37	-	-	ADJ
ajfa-10186	29	38	listing	listing	ADJ
ajfa-10186	29	39	,	,	PUNCT
ajfa-10186	29	40	specially	specially	ADV
ajfa-10186	29	41	from	from	ADP
ajfa-10186	29	42	issuers	issuer	NOUN
ajfa-10186	29	43	from	from	ADP
ajfa-10186	29	44	countries	country	NOUN
ajfa-10186	29	45	with	with	ADP
ajfa-10186	29	46	weak	weak	ADJ
ajfa-10186	29	47	investor	investor	NOUN
ajfa-10186	29	48	protection	protection	NOUN
ajfa-10186	29	49	.	.	PUNCT
ajfa-10186	30	1	they	they	PRON
ajfa-10186	30	2	conclude	conclude	VERB
ajfa-10186	30	3	that	that	SCONJ
ajfa-10186	30	4	a	a	DET
ajfa-10186	30	5	bonding	bonding	NOUN
ajfa-10186	30	6	mechanism	mechanism	NOUN
ajfa-10186	30	7	provided	provide	VERB
ajfa-10186	30	8	with	with	ADP
ajfa-10186	30	9	the	the	DET
ajfa-10186	30	10	us	us	PROPN
ajfa-10186	30	11	listing	list	VERB
ajfa-10186	30	12	allows	allow	VERB
ajfa-10186	30	13	firms	firm	NOUN
ajfa-10186	30	14	to	to	PART
ajfa-10186	30	15	raise	raise	VERB
ajfa-10186	30	16	more	more	ADJ
ajfa-10186	30	17	capital	capital	NOUN
ajfa-10186	30	18	subsequently	subsequently	ADV
ajfa-10186	30	19	.	.	PUNCT
ajfa-10186	31	1	again	again	ADV
ajfa-10186	31	2	,	,	PUNCT
ajfa-10186	31	3	rule	rule	VERB
ajfa-10186	31	4	144a	144a	ADJ
ajfa-10186	31	5	private	private	ADJ
ajfa-10186	31	6	placement	placement	NOUN
ajfa-10186	31	7	does	do	AUX
ajfa-10186	31	8	not	not	PART
ajfa-10186	31	9	require	require	VERB
ajfa-10186	31	10	such	such	ADJ
ajfa-10186	31	11	compliance	compliance	NOUN
ajfa-10186	31	12	with	with	ADP
ajfa-10186	31	13	sec	sec	PROPN
ajfa-10186	31	14	regulations	regulation	NOUN
ajfa-10186	31	15	and	and	CCONJ
ajfa-10186	31	16	,	,	PUNCT
ajfa-10186	31	17	consequently	consequently	ADV
ajfa-10186	31	18	,	,	PUNCT
ajfa-10186	31	19	non	non	ADJ
ajfa-10186	31	20	-	-	ADJ
ajfa-10186	31	21	us	us	ADJ
ajfa-10186	31	22	firms	firm	NOUN
ajfa-10186	31	23	in	in	ADP
ajfa-10186	31	24	rule	rule	NOUN
ajfa-10186	31	25	144a	144a	PROPN
ajfa-10186	31	26	will	will	AUX
ajfa-10186	31	27	not	not	PART
ajfa-10186	31	28	benefit	benefit	VERB
ajfa-10186	31	29	from	from	ADP
ajfa-10186	31	30	bonding	bonding	NOUN
ajfa-10186	31	31	and	and	CCONJ
ajfa-10186	31	32	monitoring	monitoring	NOUN
ajfa-10186	31	33	under	under	ADP
ajfa-10186	31	34	the	the	DET
ajfa-10186	31	35	us	us	PROPN
ajfa-10186	31	36	regulation	regulation	NOUN
ajfa-10186	31	37	.	.	PUNCT
ajfa-10186	32	1	it	it	PRON
ajfa-10186	32	2	is	be	AUX
ajfa-10186	32	3	questionable	questionable	ADJ
ajfa-10186	32	4	how	how	SCONJ
ajfa-10186	32	5	non	non	ADJ
ajfa-10186	32	6	-	-	ADJ
ajfa-10186	32	7	us	us	ADJ
ajfa-10186	32	8	firms	firm	NOUN
ajfa-10186	32	9	listed	list	VERB
ajfa-10186	32	10	in	in	ADP
ajfa-10186	32	11	portal	portal	ADJ
ajfa-10186	32	12	can	can	AUX
ajfa-10186	32	13	also	also	ADV
ajfa-10186	32	14	raise	raise	VERB
ajfa-10186	32	15	more	more	ADJ
ajfa-10186	32	16	capital	capital	NOUN
ajfa-10186	32	17	subsequently	subsequently	ADV
ajfa-10186	32	18	.	.	PUNCT
ajfa-10186	33	1	in	in	ADP
ajfa-10186	33	2	emerging	emerge	VERB
ajfa-10186	33	3	markets	market	NOUN
ajfa-10186	33	4	,	,	PUNCT
ajfa-10186	33	5	the	the	DET
ajfa-10186	33	6	government	government	NOUN
ajfa-10186	33	7	,	,	PUNCT
ajfa-10186	33	8	oftentimes	oftentime	NOUN
ajfa-10186	33	9	,	,	PUNCT
ajfa-10186	33	10	guarantee	guarantee	VERB
ajfa-10186	33	11	that	that	SCONJ
ajfa-10186	33	12	a	a	DET
ajfa-10186	33	13	firm	firm	NOUN
ajfa-10186	33	14	will	will	AUX
ajfa-10186	33	15	not	not	PART
ajfa-10186	33	16	let	let	VERB
ajfa-10186	33	17	bankrupt	bankrupt	ADJ
ajfa-10186	33	18	in	in	ADP
ajfa-10186	33	19	order	order	NOUN
ajfa-10186	33	20	to	to	PART
ajfa-10186	33	21	persuade	persuade	VERB
ajfa-10186	33	22	foreign	foreign	ADJ
ajfa-10186	33	23	investors	investor	NOUN
ajfa-10186	33	24	to	to	PART
ajfa-10186	33	25	participate	participate	VERB
ajfa-10186	33	26	in	in	ADP
ajfa-10186	33	27	the	the	DET
ajfa-10186	33	28	capital	capital	NOUN
ajfa-10186	33	29	raising	raising	NOUN
ajfa-10186	33	30	.	.	PUNCT
ajfa-10186	34	1	private	private	ADJ
ajfa-10186	34	2	dr	dr	PROPN
ajfa-10186	34	3	issuers	issuer	NOUN
ajfa-10186	34	4	also	also	ADV
ajfa-10186	34	5	might	might	AUX
ajfa-10186	34	6	delude	delude	VERB
ajfa-10186	34	7	home	home	NOUN
ajfa-10186	34	8	country	country	NOUN
ajfa-10186	34	9	investors	investor	NOUN
ajfa-10186	34	10	as	as	SCONJ
ajfa-10186	34	11	if	if	SCONJ
ajfa-10186	34	12	their	their	PRON
ajfa-10186	34	13	firms	firm	NOUN
ajfa-10186	34	14	receive	receive	VERB
ajfa-10186	34	15	the	the	DET
ajfa-10186	34	16	same	same	ADJ
ajfa-10186	34	17	scrutiny	scrutiny	NOUN
ajfa-10186	34	18	as	as	ADP
ajfa-10186	34	19	firms	firm	NOUN
ajfa-10186	34	20	listed	list	VERB
ajfa-10186	34	21	in	in	ADP
ajfa-10186	34	22	the	the	DET
ajfa-10186	34	23	public	public	ADJ
ajfa-10186	34	24	us	us	PROPN
ajfa-10186	34	25	exchange	exchange	NOUN
ajfa-10186	34	26	such	such	ADJ
ajfa-10186	34	27	as	as	ADP
ajfa-10186	34	28	nyse	nyse	PROPN
ajfa-10186	34	29	and	and	CCONJ
ajfa-10186	34	30	nasdaq	nasdaq	PROPN
ajfa-10186	34	31	.	.	PUNCT
ajfa-10186	35	1	a	a	DET
ajfa-10186	35	2	listing	listing	NOUN
ajfa-10186	35	3	in	in	ADP
ajfa-10186	35	4	formal	formal	ADJ
ajfa-10186	35	5	us	us	PROPN
ajfa-10186	35	6	exchange	exchange	NOUN
ajfa-10186	35	7	can	can	AUX
ajfa-10186	35	8	provide	provide	VERB
ajfa-10186	35	9	prestige	prestige	NOUN
ajfa-10186	35	10	and	and	CCONJ
ajfa-10186	35	11	reputation	reputation	NOUN
ajfa-10186	35	12	for	for	ADP
ajfa-10186	35	13	the	the	DET
ajfa-10186	35	14	non	non	ADJ
ajfa-10186	35	15	-	-	ADJ
ajfa-10186	35	16	us	us	ADJ
ajfa-10186	35	17	firms	firm	NOUN
ajfa-10186	35	18	specially	specially	ADV
ajfa-10186	35	19	for	for	ADP
ajfa-10186	35	20	firms	firm	NOUN
ajfa-10186	35	21	from	from	ADP
ajfa-10186	35	22	countries	country	NOUN
ajfa-10186	35	23	with	with	ADP
ajfa-10186	35	24	weak	weak	ADJ
ajfa-10186	35	25	investor	investor	NOUN
ajfa-10186	35	26	protection	protection	NOUN
ajfa-10186	35	27	.	.	PUNCT
ajfa-10186	36	1	if	if	SCONJ
ajfa-10186	36	2	the	the	DET
ajfa-10186	36	3	home	home	NOUN
ajfa-10186	36	4	country	country	NOUN
ajfa-10186	36	5	investors	investor	NOUN
ajfa-10186	36	6	are	be	AUX
ajfa-10186	36	7	naive	naive	ADJ
ajfa-10186	36	8	,	,	PUNCT
ajfa-10186	36	9	the	the	DET
ajfa-10186	36	10	private	private	ADJ
ajfa-10186	36	11	equity	equity	NOUN
ajfa-10186	36	12	placement	placement	NOUN
ajfa-10186	36	13	under	under	ADP
ajfa-10186	36	14	rule	rule	NOUN
ajfa-10186	36	15	144a	144a	PROPN
ajfa-10186	36	16	could	could	AUX
ajfa-10186	36	17	give	give	VERB
ajfa-10186	36	18	false	false	ADJ
ajfa-10186	36	19	signal	signal	NOUN
ajfa-10186	36	20	as	as	SCONJ
ajfa-10186	36	21	if	if	SCONJ
ajfa-10186	36	22	the	the	DET
ajfa-10186	36	23	firms	firm	NOUN
ajfa-10186	36	24	achieved	achieve	VERB
ajfa-10186	36	25	the	the	DET
ajfa-10186	36	26	prestige	prestige	NOUN
ajfa-10186	36	27	provided	provide	VERB
ajfa-10186	36	28	by	by	ADP
ajfa-10186	36	29	the	the	DET
ajfa-10186	36	30	us	us	PROPN
ajfa-10186	36	31	public	public	ADJ
ajfa-10186	36	32	exchange	exchange	NOUN
ajfa-10186	36	33	.	.	PUNCT
ajfa-10186	37	1	once	once	ADV
ajfa-10186	37	2	the	the	DET
ajfa-10186	37	3	non	non	ADJ
ajfa-10186	37	4	-	-	ADJ
ajfa-10186	37	5	us	us	ADJ
ajfa-10186	37	6	firms	firm	NOUN
ajfa-10186	37	7	get	get	VERB
ajfa-10186	37	8	the	the	DET
ajfa-10186	37	9	“	"	PUNCT
ajfa-10186	37	10	fake	fake	ADJ
ajfa-10186	37	11	”	"	PUNCT
ajfa-10186	37	12	prestige	prestige	NOUN
ajfa-10186	37	13	,	,	PUNCT
ajfa-10186	37	14	they	they	PRON
ajfa-10186	37	15	can	can	AUX
ajfa-10186	37	16	raise	raise	VERB
ajfa-10186	37	17	capital	capital	NOUN
ajfa-10186	37	18	at	at	ADP
ajfa-10186	37	19	lower	low	ADJ
ajfa-10186	37	20	cost	cost	NOUN
ajfa-10186	37	21	from	from	ADP
ajfa-10186	37	22	home	home	NOUN
ajfa-10186	37	23	capital	capital	NOUN
ajfa-10186	37	24	market	market	NOUN
ajfa-10186	37	25	and	and	CCONJ
ajfa-10186	37	26	increase	increase	VERB
ajfa-10186	37	27	private	private	ADJ
ajfa-10186	37	28	benefits	benefit	NOUN
ajfa-10186	37	29	of	of	ADP
ajfa-10186	37	30	managers	manager	NOUN
ajfa-10186	37	31	.	.	PUNCT
ajfa-10186	38	1	some	some	DET
ajfa-10186	38	2	anecdotal	anecdotal	ADJ
ajfa-10186	38	3	evidence	evidence	NOUN
ajfa-10186	38	4	illustrates	illustrate	VERB
ajfa-10186	38	5	this	this	DET
ajfa-10186	38	6	point	point	NOUN
ajfa-10186	38	7	:	:	PUNCT
ajfa-10186	38	8	lg	lg	NOUN
ajfa-10186	38	9	telecom	telecom	PROPN
ajfa-10186	38	10	,	,	PUNCT
ajfa-10186	38	11	a	a	DET
ajfa-10186	38	12	south	south	PROPN
ajfa-10186	38	13	korea	korea	PROPN
ajfa-10186	38	14	based	base	VERB
ajfa-10186	38	15	telecommunication	telecommunication	NOUN
ajfa-10186	38	16	company	company	NOUN
ajfa-10186	38	17	,	,	PUNCT
ajfa-10186	38	18	issued	issue	VERB
ajfa-10186	38	19	equity	equity	NOUN
ajfa-10186	38	20	in	in	ADP
ajfa-10186	38	21	rule	rule	NOUN
ajfa-10186	38	22	144a	144a	ADJ
ajfa-10186	38	23	market	market	NOUN
ajfa-10186	38	24	in	in	ADP
ajfa-10186	38	25	january	january	PROPN
ajfa-10186	38	26	2001	2001	NUM
ajfa-10186	38	27	.	.	PUNCT
ajfa-10186	39	1	local	local	ADJ
ajfa-10186	39	2	market	market	NOUN
ajfa-10186	39	3	newspaper	newspaper	NOUN
ajfa-10186	39	4	evaluated	evaluate	VERB
ajfa-10186	39	5	the	the	DET
ajfa-10186	39	6	issuance	issuance	NOUN
ajfa-10186	39	7	as	as	ADP
ajfa-10186	39	8	a	a	DET
ajfa-10186	39	9	success	success	NOUN
ajfa-10186	39	10	as	as	SCONJ
ajfa-10186	39	11	it	it	PRON
ajfa-10186	39	12	indicates	indicate	VERB
ajfa-10186	39	13	foreign	foreign	ADJ
ajfa-10186	39	14	investors	investor	NOUN
ajfa-10186	39	15	value	value	VERB
ajfa-10186	39	16	the	the	DET
ajfa-10186	39	17	future	future	ADJ
ajfa-10186	39	18	growth	growth	NOUN
ajfa-10186	39	19	opportunities	opportunity	NOUN
ajfa-10186	39	20	of	of	ADP
ajfa-10186	39	21	the	the	DET
ajfa-10186	39	22	company	company	NOUN
ajfa-10186	39	23	.	.	PUNCT
ajfa-10186	40	1	though	though	SCONJ
ajfa-10186	40	2	there	there	PRON
ajfa-10186	40	3	is	be	VERB
ajfa-10186	40	4	a	a	DET
ajfa-10186	40	5	criticism	criticism	NOUN
ajfa-10186	40	6	arguing	argue	VERB
ajfa-10186	40	7	that	that	SCONJ
ajfa-10186	40	8	lg	lg	PROPN
ajfa-10186	40	9	telecom	telecom	PROPN
ajfa-10186	40	10	issued	issue	VERB
ajfa-10186	40	11	the	the	DET
ajfa-10186	40	12	equity	equity	NOUN
ajfa-10186	40	13	at	at	ADP
ajfa-10186	40	14	too	too	ADV
ajfa-10186	40	15	low	low	ADJ
ajfa-10186	40	16	price	price	NOUN
ajfa-10186	40	17	,	,	PUNCT
ajfa-10186	40	18	lg	lg	NOUN
ajfa-10186	40	19	telecom	telecom	NOUN
ajfa-10186	40	20	could	could	AUX
ajfa-10186	40	21	raise	raise	VERB
ajfa-10186	40	22	more	more	ADJ
ajfa-10186	40	23	capital	capital	NOUN
ajfa-10186	40	24	from	from	ADP
ajfa-10186	40	25	domestic	domestic	ADJ
ajfa-10186	40	26	banks	bank	NOUN
ajfa-10186	40	27	and	and	CCONJ
ajfa-10186	40	28	overseas	overseas	ADV
ajfa-10186	40	29	subsequently	subsequently	ADV
ajfa-10186	40	30	.	.	PUNCT
ajfa-10186	41	1	foster	foster	VERB
ajfa-10186	41	2	and	and	CCONJ
ajfa-10186	41	3	karolyi	karolyi	ADJ
ajfa-10186	41	4	(	(	PUNCT
ajfa-10186	41	5	2000	2000	NUM
ajfa-10186	41	6	)	)	PUNCT
ajfa-10186	41	7	find	find	VERB
ajfa-10186	41	8	that	that	SCONJ
ajfa-10186	41	9	the	the	DET
ajfa-10186	41	10	long	long	ADV
ajfa-10186	41	11	-	-	PUNCT
ajfa-10186	41	12	run	run	VERB
ajfa-10186	41	13	stock	stock	NOUN
ajfa-10186	41	14	market	market	NOUN
ajfa-10186	41	15	performance	performance	NOUN
ajfa-10186	41	16	is	be	AUX
ajfa-10186	41	17	lowest	low	ADJ
ajfa-10186	41	18	for	for	ADP
ajfa-10186	41	19	the	the	DET
ajfa-10186	41	20	private	private	ADJ
ajfa-10186	41	21	dr	dr	PROPN
ajfa-10186	41	22	issuers	issuer	NOUN
ajfa-10186	41	23	from	from	ADP
ajfa-10186	41	24	lower	low	ADJ
ajfa-10186	41	25	home	home	NOUN
ajfa-10186	41	26	market	market	NOUN
ajfa-10186	41	27	accounting	accounting	NOUN
ajfa-10186	41	28	standards	standard	NOUN
ajfa-10186	41	29	,	,	PUNCT
ajfa-10186	41	30	while	while	SCONJ
ajfa-10186	41	31	it	it	PRON
ajfa-10186	41	32	is	be	AUX
ajfa-10186	41	33	highest	high	ADJ
ajfa-10186	41	34	for	for	ADP
ajfa-10186	41	35	the	the	DET
ajfa-10186	41	36	public	public	ADJ
ajfa-10186	41	37	dr	dr	PROPN
ajfa-10186	41	38	issuers	issuer	NOUN
ajfa-10186	41	39	from	from	ADP
ajfa-10186	41	40	lower	low	ADJ
ajfa-10186	41	41	home	home	NOUN
ajfa-10186	41	42	market	market	NOUN
ajfa-10186	41	43	accounting	accounting	NOUN
ajfa-10186	41	44	standards	standard	NOUN
ajfa-10186	41	45	.	.	PUNCT
ajfa-10186	42	1	if	if	SCONJ
ajfa-10186	42	2	rule	rule	VERB
ajfa-10186	42	3	144a	144a	ADJ
ajfa-10186	42	4	equity	equity	NOUN
ajfa-10186	42	5	issuance	issuance	NOUN
ajfa-10186	42	6	gives	give	VERB
ajfa-10186	42	7	domestic	domestic	ADJ
ajfa-10186	42	8	investors	investor	NOUN
ajfa-10186	42	9	a	a	DET
ajfa-10186	42	10	false	false	ADJ
ajfa-10186	42	11	signal	signal	NOUN
ajfa-10186	42	12	about	about	ADP
ajfa-10186	42	13	bonding	bonding	NOUN
ajfa-10186	42	14	,	,	PUNCT
ajfa-10186	42	15	we	we	PRON
ajfa-10186	42	16	expect	expect	VERB
ajfa-10186	42	17	that	that	SCONJ
ajfa-10186	42	18	more	more	ADV
ajfa-10186	42	19	frequent	frequent	ADJ
ajfa-10186	42	20	and	and	CCONJ
ajfa-10186	42	21	larger	large	ADJ
ajfa-10186	42	22	magnitude	magnitude	NOUN
ajfa-10186	42	23	of	of	ADP
ajfa-10186	42	24	capital	capital	NOUN
ajfa-10186	42	25	raising	raise	VERB
ajfa-10186	42	26	activities	activity	NOUN
ajfa-10186	42	27	after	after	ADP
ajfa-10186	42	28	the	the	DET
ajfa-10186	42	29	private	private	ADJ
ajfa-10186	42	30	dr	dr	PROPN
ajfa-10186	42	31	offering	offering	NOUN
ajfa-10186	42	32	,	,	PUNCT
ajfa-10186	42	33	specially	specially	ADV
ajfa-10186	42	34	for	for	ADP
ajfa-10186	42	35	firms	firm	NOUN
ajfa-10186	42	36	from	from	ADP
ajfa-10186	42	37	countries	country	NOUN
ajfa-10186	42	38	with	with	ADP
ajfa-10186	42	39	poor	poor	ADJ
ajfa-10186	42	40	investor	investor	NOUN
ajfa-10186	42	41	protection	protection	NOUN
ajfa-10186	42	42	or	or	CCONJ
ajfa-10186	42	43	undeveloped	undeveloped	ADJ
ajfa-10186	42	44	capital	capital	NOUN
ajfa-10186	42	45	market	market	NOUN
ajfa-10186	42	46	.	.	PUNCT
ajfa-10186	43	1	we	we	PRON
ajfa-10186	43	2	expect	expect	VERB
ajfa-10186	43	3	that	that	SCONJ
ajfa-10186	43	4	post	post	NOUN
ajfa-10186	43	5	capital	capital	NOUN
ajfa-10186	43	6	raising	raise	VERB
ajfa-10186	43	7	activities	activity	NOUN
ajfa-10186	43	8	will	will	AUX
ajfa-10186	43	9	be	be	AUX
ajfa-10186	43	10	positively	positively	ADV
ajfa-10186	43	11	related	relate	VERB
ajfa-10186	43	12	to	to	ADP
ajfa-10186	43	13	the	the	DET
ajfa-10186	43	14	discount	discount	NOUN
ajfa-10186	43	15	and	and	CCONJ
ajfa-10186	43	16	negatively	negatively	ADV
ajfa-10186	43	17	related	relate	VERB
ajfa-10186	43	18	to	to	ADP
ajfa-10186	43	19	the	the	DET
ajfa-10186	43	20	amount	amount	NOUN
ajfa-10186	43	21	of	of	ADP
ajfa-10186	43	22	capital	capital	NOUN
ajfa-10186	43	23	raised	raise	VERB
ajfa-10186	43	24	in	in	ADP
ajfa-10186	43	25	the	the	DET
ajfa-10186	43	26	private	private	ADJ
ajfa-10186	43	27	dr	dr	PROPN
ajfa-10186	43	28	issuance	issuance	NOUN
ajfa-10186	43	29	.	.	PUNCT
ajfa-10186	44	1	we	we	PRON
ajfa-10186	44	2	also	also	ADV
ajfa-10186	44	3	expect	expect	VERB
ajfa-10186	44	4	that	that	SCONJ
ajfa-10186	44	5	the	the	DET
ajfa-10186	44	6	subsequent	subsequent	ADJ
ajfa-10186	44	7	capital	capital	NOUN
ajfa-10186	44	8	raising	raising	NOUN
ajfa-10186	44	9	activities	activity	NOUN
ajfa-10186	44	10	will	will	AUX
ajfa-10186	44	11	be	be	AUX
ajfa-10186	44	12	associated	associate	VERB
ajfa-10186	44	13	with	with	ADP
ajfa-10186	44	14	the	the	DET
ajfa-10186	44	15	observed	observe	VERB
ajfa-10186	44	16	long	long	ADJ
ajfa-10186	44	17	-	-	PUNCT
ajfa-10186	44	18	term	term	NOUN
ajfa-10186	44	19	underperformance	underperformance	NOUN
ajfa-10186	44	20	.	.	PUNCT
ajfa-10186	45	1	one	one	PRON
ajfa-10186	45	2	might	might	AUX
ajfa-10186	45	3	argue	argue	VERB
ajfa-10186	45	4	that	that	SCONJ
ajfa-10186	45	5	private	private	ADJ
ajfa-10186	45	6	dr	dr	PROPN
ajfa-10186	45	7	offering	offering	NOUN
ajfa-10186	45	8	would	would	AUX
ajfa-10186	45	9	be	be	AUX
ajfa-10186	45	10	preferred	prefer	VERB
ajfa-10186	45	11	by	by	ADP
ajfa-10186	45	12	small	small	ADJ
ajfa-10186	45	13	,	,	PUNCT
ajfa-10186	45	14	young	young	ADJ
ajfa-10186	45	15	companies	company	NOUN
ajfa-10186	45	16	who	who	PRON
ajfa-10186	45	17	can	can	AUX
ajfa-10186	45	18	not	not	PART
ajfa-10186	45	19	meet	meet	VERB
ajfa-10186	45	20	the	the	DET
ajfa-10186	45	21	listing	listing	NOUN
ajfa-10186	45	22	requirements	requirement	NOUN
ajfa-10186	45	23	of	of	ADP
ajfa-10186	45	24	public	public	ADJ
ajfa-10186	45	25	us	us	PROPN
ajfa-10186	45	26	exchanges	exchange	NOUN
ajfa-10186	45	27	and	and	CCONJ
ajfa-10186	45	28	still	still	ADV
ajfa-10186	45	29	want	want	VERB
ajfa-10186	45	30	to	to	PART
ajfa-10186	45	31	raise	raise	VERB
ajfa-10186	45	32	capital	capital	NOUN
ajfa-10186	45	33	in	in	ADP
ajfa-10186	45	34	the	the	DET
ajfa-10186	45	35	us	we	PRON
ajfa-10186	45	36	quickly	quickly	ADV
ajfa-10186	45	37	and	and	CCONJ
ajfa-10186	45	38	at	at	ADP
ajfa-10186	45	39	lower	low	ADJ
ajfa-10186	45	40	costs	cost	NOUN
ajfa-10186	45	41	.	.	PUNCT
ajfa-10186	46	1	however	however	ADV
ajfa-10186	46	2	,	,	PUNCT
ajfa-10186	46	3	considering	consider	VERB
ajfa-10186	46	4	the	the	DET
ajfa-10186	46	5	deep	deep	ADJ
ajfa-10186	46	6	discount	discount	NOUN
ajfa-10186	46	7	and	and	CCONJ
ajfa-10186	46	8	illiquidity	illiquidity	NOUN
ajfa-10186	46	9	in	in	ADP
ajfa-10186	46	10	the	the	DET
ajfa-10186	46	11	private	private	ADJ
ajfa-10186	46	12	equity	equity	NOUN
ajfa-10186	46	13	market	market	NOUN
ajfa-10186	46	14	,	,	PUNCT
ajfa-10186	46	15	it	it	PRON
ajfa-10186	46	16	is	be	AUX
ajfa-10186	46	17	questionable	questionable	ADJ
ajfa-10186	46	18	whether	whether	SCONJ
ajfa-10186	46	19	the	the	DET
ajfa-10186	46	20	firms	firm	NOUN
ajfa-10186	46	21	can	can	AUX
ajfa-10186	46	22	raise	raise	VERB
ajfa-10186	46	23	capital	capital	NOUN
ajfa-10186	46	24	at	at	ADP
ajfa-10186	46	25	lower	low	ADJ
ajfa-10186	46	26	cost	cost	NOUN
ajfa-10186	46	27	in	in	ADP
ajfa-10186	46	28	private	private	ADJ
ajfa-10186	46	29	dr	dr	PROPN
ajfa-10186	46	30	market	market	NOUN
ajfa-10186	46	31	than	than	ADP
ajfa-10186	46	32	in	in	ADP
ajfa-10186	46	33	home	home	NOUN
ajfa-10186	46	34	capital	capital	NOUN
ajfa-10186	46	35	market.ii	market.ii	PROPN
ajfa-10186	46	36	the	the	DET
ajfa-10186	46	37	empirical	empirical	ADJ
ajfa-10186	46	38	evidence	evidence	NOUN
ajfa-10186	46	39	on	on	ADP
ajfa-10186	46	40	private	private	ADJ
ajfa-10186	46	41	dr	dr	PROPN
ajfa-10186	46	42	issuance	issuance	NOUN
ajfa-10186	46	43	also	also	ADV
ajfa-10186	46	44	suggests	suggest	VERB
ajfa-10186	46	45	that	that	SCONJ
ajfa-10186	46	46	the	the	DET
ajfa-10186	46	47	potential	potential	ADJ
ajfa-10186	46	48	benefits	benefit	NOUN
ajfa-10186	46	49	of	of	ADP
ajfa-10186	46	50	private	private	ADJ
ajfa-10186	46	51	dr	dr	NOUN
ajfa-10186	46	52	offerings	offering	NOUN
ajfa-10186	46	53	do	do	AUX
ajfa-10186	46	54	not	not	PART
ajfa-10186	46	55	outweigh	outweigh	VERB
ajfa-10186	46	56	its	its	PRON
ajfa-10186	46	57	costs	cost	NOUN
ajfa-10186	46	58	.	.	PUNCT
ajfa-10186	47	1	miller	miller	PROPN
ajfa-10186	47	2	(	(	PUNCT
ajfa-10186	47	3	1999	1999	NUM
ajfa-10186	47	4	)	)	PUNCT
ajfa-10186	47	5	finds	find	VERB
ajfa-10186	47	6	negative	negative	ADJ
ajfa-10186	47	7	(	(	PUNCT
ajfa-10186	47	8	but	but	CCONJ
ajfa-10186	47	9	insignificant	insignificant	ADJ
ajfa-10186	47	10	)	)	PUNCT
ajfa-10186	47	11	short	short	ADJ
ajfa-10186	47	12	-	-	PUNCT
ajfa-10186	47	13	term	term	NOUN
ajfa-10186	47	14	abnormal	abnormal	ADJ
ajfa-10186	47	15	return	return	NOUN
ajfa-10186	47	16	for	for	ADP
ajfa-10186	47	17	private	private	ADJ
ajfa-10186	47	18	dr	dr	PROPN
ajfa-10186	47	19	offerings	offering	NOUN
ajfa-10186	47	20	.	.	PUNCT
ajfa-10186	48	1	foster	foster	ADJ
ajfa-10186	48	2	and	and	CCONJ
ajfa-10186	48	3	karolyi	karolyi	ADJ
ajfa-10186	48	4	(	(	PUNCT
ajfa-10186	48	5	2000	2000	NUM
ajfa-10186	48	6	)	)	PUNCT
ajfa-10186	48	7	find	find	VERB
ajfa-10186	48	8	that	that	SCONJ
ajfa-10186	48	9	private	private	ADJ
ajfa-10186	48	10	dr	dr	PROPN
ajfa-10186	48	11	issuers	issuer	NOUN
ajfa-10186	48	12	significantly	significantly	ADV
ajfa-10186	48	13	underperform	underperform	VERB
ajfa-10186	48	14	market	market	NOUN
ajfa-10186	48	15	up	up	ADP
ajfa-10186	48	16	to	to	PART
ajfa-10186	48	17	three	three	NUM
ajfa-10186	48	18	years	year	NOUN
ajfa-10186	48	19	after	after	ADP
ajfa-10186	48	20	the	the	DET
ajfa-10186	48	21	issuances	issuance	NOUN
ajfa-10186	48	22	.	.	PUNCT
ajfa-10186	49	1	asian	asian	ADJ
ajfa-10186	49	2	journal	journal	PROPN
ajfa-10186	49	3	of	of	ADP
ajfa-10186	49	4	finance	finance	PROPN
ajfa-10186	49	5	&	&	CCONJ
ajfa-10186	49	6	accounting	accounting	PROPN
ajfa-10186	49	7	issn	issn	PROPN
ajfa-10186	49	8	1946	1946	NUM
ajfa-10186	49	9	-	-	PUNCT
ajfa-10186	49	10	052x	052x	PROPN
ajfa-10186	49	11	2016	2016	NUM
ajfa-10186	49	12	,	,	PUNCT
ajfa-10186	49	13	vol	vol	NOUN
ajfa-10186	49	14	.	.	PROPN
ajfa-10186	49	15	8	8	NUM
ajfa-10186	49	16	,	,	PUNCT
ajfa-10186	49	17	no	no	INTJ
ajfa-10186	49	18	.	.	NOUN
ajfa-10186	49	19	2	2	NUM
ajfa-10186	49	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	49	21	128	128	NUM
ajfa-10186	49	22	2	2	NUM
ajfa-10186	49	23	.	.	PUNCT
ajfa-10186	49	24	previous	previous	ADJ
ajfa-10186	49	25	literature	literature	NOUN
ajfa-10186	49	26	recent	recent	ADJ
ajfa-10186	49	27	empirical	empirical	ADJ
ajfa-10186	49	28	work	work	NOUN
ajfa-10186	49	29	documents	document	NOUN
ajfa-10186	49	30	that	that	PRON
ajfa-10186	49	31	in	in	ADP
ajfa-10186	49	32	countries	country	NOUN
ajfa-10186	49	33	where	where	SCONJ
ajfa-10186	49	34	legal	legal	ADJ
ajfa-10186	49	35	protections	protection	NOUN
ajfa-10186	49	36	for	for	ADP
ajfa-10186	49	37	minority	minority	NOUN
ajfa-10186	49	38	shareholders	shareholder	NOUN
ajfa-10186	49	39	are	be	AUX
ajfa-10186	49	40	weak	weak	ADJ
ajfa-10186	49	41	,	,	PUNCT
ajfa-10186	49	42	it	it	PRON
ajfa-10186	49	43	is	be	AUX
ajfa-10186	49	44	considerably	considerably	ADV
ajfa-10186	49	45	more	more	ADV
ajfa-10186	49	46	difficult	difficult	ADJ
ajfa-10186	49	47	for	for	SCONJ
ajfa-10186	49	48	a	a	DET
ajfa-10186	49	49	firm	firm	NOUN
ajfa-10186	49	50	to	to	PART
ajfa-10186	49	51	raise	raise	VERB
ajfa-10186	49	52	external	external	ADJ
ajfa-10186	49	53	capital	capital	NOUN
ajfa-10186	49	54	than	than	ADP
ajfa-10186	49	55	for	for	ADP
ajfa-10186	49	56	a	a	DET
ajfa-10186	49	57	firm	firm	NOUN
ajfa-10186	49	58	in	in	ADP
ajfa-10186	49	59	a	a	DET
ajfa-10186	49	60	country	country	NOUN
ajfa-10186	49	61	that	that	PRON
ajfa-10186	49	62	protects	protect	VERB
ajfa-10186	49	63	minority	minority	NOUN
ajfa-10186	49	64	interest	interest	NOUN
ajfa-10186	49	65	will	will	AUX
ajfa-10186	49	66	(	(	PUNCT
ajfa-10186	49	67	la	la	ADV
ajfa-10186	49	68	porta	porta	PROPN
ajfa-10186	49	69	,	,	PUNCT
ajfa-10186	49	70	lopez	lopez	NOUN
ajfa-10186	49	71	,	,	PUNCT
ajfa-10186	49	72	shleifer	shleifer	NOUN
ajfa-10186	49	73	,	,	PUNCT
ajfa-10186	49	74	and	and	CCONJ
ajfa-10186	49	75	vishny	vishny	PROPN
ajfa-10186	49	76	1998	1998	NUM
ajfa-10186	49	77	,	,	PUNCT
ajfa-10186	49	78	1999	1999	NUM
ajfa-10186	49	79	)	)	PUNCT
ajfa-10186	49	80	.	.	PUNCT
ajfa-10186	50	1	reese	reese	PROPN
ajfa-10186	50	2	and	and	CCONJ
ajfa-10186	50	3	weisbach	weisbach	NOUN
ajfa-10186	50	4	(	(	PUNCT
ajfa-10186	50	5	2002	2002	NUM
ajfa-10186	50	6	)	)	PUNCT
ajfa-10186	50	7	and	and	CCONJ
ajfa-10186	50	8	doidge	doidge	NOUN
ajfa-10186	50	9	,	,	PUNCT
ajfa-10186	50	10	karolyi	karolyi	NOUN
ajfa-10186	50	11	,	,	PUNCT
ajfa-10186	50	12	and	and	CCONJ
ajfa-10186	50	13	stultz	stultz	PROPN
ajfa-10186	50	14	(	(	PUNCT
ajfa-10186	50	15	2004	2004	NUM
ajfa-10186	50	16	)	)	PUNCT
ajfa-10186	50	17	argue	argue	VERB
ajfa-10186	50	18	that	that	SCONJ
ajfa-10186	50	19	the	the	DET
ajfa-10186	50	20	managers	manager	NOUN
ajfa-10186	50	21	under	under	ADP
ajfa-10186	50	22	poor	poor	ADJ
ajfa-10186	50	23	investor	investor	NOUN
ajfa-10186	50	24	protection	protection	NOUN
ajfa-10186	50	25	would	would	AUX
ajfa-10186	50	26	either	either	CCONJ
ajfa-10186	50	27	expropriate	expropriate	VERB
ajfa-10186	50	28	firm	firm	NOUN
ajfa-10186	50	29	’s	’s	PART
ajfa-10186	50	30	resource	resource	NOUN
ajfa-10186	50	31	at	at	ADP
ajfa-10186	50	32	the	the	DET
ajfa-10186	50	33	cost	cost	NOUN
ajfa-10186	50	34	of	of	ADP
ajfa-10186	50	35	minority	minority	NOUN
ajfa-10186	50	36	shareholders	shareholder	NOUN
ajfa-10186	50	37	or	or	CCONJ
ajfa-10186	50	38	pursue	pursue	VERB
ajfa-10186	50	39	growth	growth	NOUN
ajfa-10186	50	40	opportunities	opportunity	NOUN
ajfa-10186	50	41	by	by	ADP
ajfa-10186	50	42	raising	raise	VERB
ajfa-10186	50	43	capital	capital	NOUN
ajfa-10186	50	44	.	.	PUNCT
ajfa-10186	51	1	outside	outside	ADJ
ajfa-10186	51	2	investors	investor	NOUN
ajfa-10186	51	3	will	will	AUX
ajfa-10186	51	4	not	not	PART
ajfa-10186	51	5	commit	commit	VERB
ajfa-10186	51	6	their	their	PRON
ajfa-10186	51	7	capital	capital	NOUN
ajfa-10186	51	8	unless	unless	SCONJ
ajfa-10186	51	9	there	there	PRON
ajfa-10186	51	10	is	be	VERB
ajfa-10186	51	11	a	a	DET
ajfa-10186	51	12	bonding	bonding	NOUN
ajfa-10186	51	13	and	and	CCONJ
ajfa-10186	51	14	monitoring	monitoring	NOUN
ajfa-10186	51	15	to	to	PART
ajfa-10186	51	16	prevent	prevent	VERB
ajfa-10186	51	17	managers	manager	NOUN
ajfa-10186	51	18	pursuing	pursue	VERB
ajfa-10186	51	19	private	private	ADJ
ajfa-10186	51	20	benefits	benefit	NOUN
ajfa-10186	51	21	.	.	PUNCT
ajfa-10186	52	1	cross	cross	VERB
ajfa-10186	52	2	-	-	ADJ
ajfa-10186	52	3	listing	list	VERB
ajfa-10186	52	4	to	to	ADP
ajfa-10186	52	5	the	the	DET
ajfa-10186	52	6	us	us	PROPN
ajfa-10186	52	7	exchange	exchange	NOUN
ajfa-10186	52	8	provides	provide	VERB
ajfa-10186	52	9	such	such	ADJ
ajfa-10186	52	10	bonding	bonding	NOUN
ajfa-10186	52	11	mechanism	mechanism	NOUN
ajfa-10186	52	12	through	through	ADP
ajfa-10186	52	13	higher	high	ADJ
ajfa-10186	52	14	regulation	regulation	NOUN
ajfa-10186	52	15	standards	standard	NOUN
ajfa-10186	52	16	.	.	PUNCT
ajfa-10186	53	1	reese	reese	PROPN
ajfa-10186	53	2	and	and	CCONJ
ajfa-10186	53	3	weisbach	weisbach	NOUN
ajfa-10186	53	4	(	(	PUNCT
ajfa-10186	53	5	2002	2002	NUM
ajfa-10186	53	6	)	)	PUNCT
ajfa-10186	53	7	,	,	PUNCT
ajfa-10186	53	8	and	and	CCONJ
ajfa-10186	53	9	doidge	doidge	NOUN
ajfa-10186	53	10	,	,	PUNCT
ajfa-10186	53	11	karolyi	karolyi	NOUN
ajfa-10186	53	12	,	,	PUNCT
ajfa-10186	53	13	and	and	CCONJ
ajfa-10186	53	14	stultz	stultz	PROPN
ajfa-10186	53	15	(	(	PUNCT
ajfa-10186	53	16	2004	2004	NUM
ajfa-10186	53	17	)	)	PUNCT
ajfa-10186	53	18	argue	argue	VERB
ajfa-10186	53	19	that	that	SCONJ
ajfa-10186	53	20	the	the	DET
ajfa-10186	53	21	disclosure	disclosure	NOUN
ajfa-10186	53	22	and	and	CCONJ
ajfa-10186	53	23	accounting	accounting	NOUN
ajfa-10186	53	24	compliance	compliance	NOUN
ajfa-10186	53	25	requirements	requirement	NOUN
ajfa-10186	53	26	for	for	ADP
ajfa-10186	53	27	a	a	DET
ajfa-10186	53	28	us	us	PROPN
ajfa-10186	53	29	listing	list	VERB
ajfa-10186	53	30	enhance	enhance	VERB
ajfa-10186	53	31	the	the	DET
ajfa-10186	53	32	protection	protection	NOUN
ajfa-10186	53	33	of	of	ADP
ajfa-10186	53	34	the	the	DET
ajfa-10186	53	35	minority	minority	NOUN
ajfa-10186	53	36	shareholders	shareholder	NOUN
ajfa-10186	53	37	and	and	CCONJ
ajfa-10186	53	38	reduce	reduce	VERB
ajfa-10186	53	39	the	the	DET
ajfa-10186	53	40	agency	agency	NOUN
ajfa-10186	53	41	costs	cost	NOUN
ajfa-10186	53	42	of	of	ADP
ajfa-10186	53	43	controlling	control	VERB
ajfa-10186	53	44	shareholders	shareholder	NOUN
ajfa-10186	53	45	.	.	PUNCT
ajfa-10186	54	1	they	they	PRON
ajfa-10186	54	2	argue	argue	VERB
ajfa-10186	54	3	that	that	SCONJ
ajfa-10186	54	4	the	the	DET
ajfa-10186	54	5	benefits	benefit	NOUN
ajfa-10186	54	6	of	of	ADP
ajfa-10186	54	7	bonding	bonding	NOUN
ajfa-10186	54	8	and	and	CCONJ
ajfa-10186	54	9	monitoring	monitor	VERB
ajfa-10186	54	10	through	through	ADP
ajfa-10186	54	11	us	we	PRON
ajfa-10186	54	12	listing	list	VERB
ajfa-10186	54	13	will	will	AUX
ajfa-10186	54	14	be	be	AUX
ajfa-10186	54	15	higher	high	ADJ
ajfa-10186	54	16	for	for	ADP
ajfa-10186	54	17	firms	firm	NOUN
ajfa-10186	54	18	from	from	ADP
ajfa-10186	54	19	poor	poor	ADJ
ajfa-10186	54	20	investor	investor	NOUN
ajfa-10186	54	21	protection	protection	NOUN
ajfa-10186	54	22	.	.	PUNCT
ajfa-10186	55	1	doidge	doidge	PROPN
ajfa-10186	55	2	,	,	PUNCT
ajfa-10186	55	3	karolyi	karolyi	NOUN
ajfa-10186	55	4	,	,	PUNCT
ajfa-10186	55	5	and	and	CCONJ
ajfa-10186	55	6	stultz	stultz	PROPN
ajfa-10186	55	7	(	(	PUNCT
ajfa-10186	55	8	2004	2004	NUM
ajfa-10186	55	9	)	)	PUNCT
ajfa-10186	55	10	argue	argue	VERB
ajfa-10186	55	11	that	that	SCONJ
ajfa-10186	55	12	the	the	DET
ajfa-10186	55	13	benefits	benefit	NOUN
ajfa-10186	55	14	of	of	ADP
ajfa-10186	55	15	bonding	bonding	NOUN
ajfa-10186	55	16	and	and	CCONJ
ajfa-10186	55	17	monitoring	monitor	VERB
ajfa-10186	55	18	through	through	ADP
ajfa-10186	55	19	us	we	PRON
ajfa-10186	55	20	listing	list	VERB
ajfa-10186	55	21	will	will	AUX
ajfa-10186	55	22	be	be	AUX
ajfa-10186	55	23	higher	high	ADJ
ajfa-10186	55	24	for	for	SCONJ
ajfa-10186	55	25	exchange	exchange	NOUN
ajfa-10186	55	26	offerings	offering	NOUN
ajfa-10186	55	27	firms	firm	NOUN
ajfa-10186	55	28	than	than	SCONJ
ajfa-10186	55	29	rule	rule	VERB
ajfa-10186	55	30	144a	144a	ADJ
ajfa-10186	55	31	offerings	offering	NOUN
ajfa-10186	55	32	which	which	PRON
ajfa-10186	55	33	provides	provide	VERB
ajfa-10186	55	34	a	a	DET
ajfa-10186	55	35	safe	safe	ADJ
ajfa-10186	55	36	harbor	harbor	NOUN
ajfa-10186	55	37	exemption	exemption	NOUN
ajfa-10186	55	38	from	from	ADP
ajfa-10186	55	39	sec	sec	PROPN
ajfa-10186	55	40	registration	registration	NOUN
ajfa-10186	55	41	requirement	requirement	NOUN
ajfa-10186	55	42	.	.	PUNCT
ajfa-10186	56	1	consistently	consistently	ADV
ajfa-10186	56	2	with	with	ADP
ajfa-10186	56	3	the	the	DET
ajfa-10186	56	4	argument	argument	NOUN
ajfa-10186	56	5	,	,	PUNCT
ajfa-10186	56	6	reese	reese	NOUN
ajfa-10186	56	7	and	and	CCONJ
ajfa-10186	56	8	weisbach	weisbach	NOUN
ajfa-10186	56	9	(	(	PUNCT
ajfa-10186	56	10	2002	2002	NUM
ajfa-10186	56	11	)	)	PUNCT
ajfa-10186	56	12	document	document	NOUN
ajfa-10186	56	13	the	the	DET
ajfa-10186	56	14	increase	increase	NOUN
ajfa-10186	56	15	in	in	ADP
ajfa-10186	56	16	equity	equity	NOUN
ajfa-10186	56	17	issues	issue	NOUN
ajfa-10186	56	18	following	follow	VERB
ajfa-10186	56	19	cross	cross	ADJ
ajfa-10186	56	20	-	-	ADJ
ajfa-10186	56	21	listing	listing	ADJ
ajfa-10186	56	22	,	,	PUNCT
ajfa-10186	56	23	specially	specially	ADV
ajfa-10186	56	24	from	from	ADP
ajfa-10186	56	25	issuers	issuer	NOUN
ajfa-10186	56	26	from	from	ADP
ajfa-10186	56	27	countries	country	NOUN
ajfa-10186	56	28	with	with	ADP
ajfa-10186	56	29	weak	weak	ADJ
ajfa-10186	56	30	investor	investor	NOUN
ajfa-10186	56	31	protection	protection	NOUN
ajfa-10186	56	32	.	.	PUNCT
ajfa-10186	57	1	doidge	doidge	PROPN
ajfa-10186	57	2	,	,	PUNCT
ajfa-10186	57	3	karolyi	karolyi	NOUN
ajfa-10186	57	4	,	,	PUNCT
ajfa-10186	57	5	and	and	CCONJ
ajfa-10186	57	6	stultz	stultz	PROPN
ajfa-10186	57	7	(	(	PUNCT
ajfa-10186	57	8	2004	2004	NUM
ajfa-10186	57	9	)	)	PUNCT
ajfa-10186	57	10	find	find	VERB
ajfa-10186	57	11	that	that	SCONJ
ajfa-10186	57	12	foreign	foreign	ADJ
ajfa-10186	57	13	firms	firm	NOUN
ajfa-10186	57	14	cross	cross	ADJ
ajfa-10186	57	15	-	-	ADJ
ajfa-10186	57	16	listed	listed	ADJ
ajfa-10186	57	17	in	in	ADP
ajfa-10186	57	18	the	the	DET
ajfa-10186	57	19	us	us	PROPN
ajfa-10186	57	20	are	be	AUX
ajfa-10186	57	21	valued	value	VERB
ajfa-10186	57	22	higher	high	ADJ
ajfa-10186	57	23	than	than	ADP
ajfa-10186	57	24	the	the	DET
ajfa-10186	57	25	local	local	ADJ
ajfa-10186	57	26	firms	firm	NOUN
ajfa-10186	57	27	not	not	PART
ajfa-10186	57	28	cross	cross	ADV
ajfa-10186	57	29	-	-	ADJ
ajfa-10186	57	30	listed	listed	ADJ
ajfa-10186	57	31	.	.	PUNCT
ajfa-10186	58	1	rule	rule	VERB
ajfa-10186	58	2	144a	144a	ADJ
ajfa-10186	58	3	issuers	issuer	NOUN
ajfa-10186	58	4	are	be	AUX
ajfa-10186	58	5	also	also	ADV
ajfa-10186	58	6	valued	value	VERB
ajfa-10186	58	7	more	more	ADJ
ajfa-10186	58	8	than	than	ADP
ajfa-10186	58	9	other	other	ADJ
ajfa-10186	58	10	local	local	ADJ
ajfa-10186	58	11	firms	firm	NOUN
ajfa-10186	58	12	,	,	PUNCT
ajfa-10186	58	13	but	but	CCONJ
ajfa-10186	58	14	the	the	DET
ajfa-10186	58	15	listing	listing	NOUN
ajfa-10186	58	16	premium	premium	NOUN
ajfa-10186	58	17	is	be	AUX
ajfa-10186	58	18	smaller	small	ADJ
ajfa-10186	58	19	than	than	ADP
ajfa-10186	58	20	exchange	exchange	NOUN
ajfa-10186	58	21	(	(	PUNCT
ajfa-10186	58	22	public	public	ADJ
ajfa-10186	58	23	)	)	PUNCT
ajfa-10186	58	24	issuers	issuer	NOUN
ajfa-10186	58	25	.	.	PUNCT
ajfa-10186	59	1	lins	lins	PROPN
ajfa-10186	59	2	,	,	PUNCT
ajfa-10186	59	3	strickland	strickland	NOUN
ajfa-10186	59	4	,	,	PUNCT
ajfa-10186	59	5	and	and	CCONJ
ajfa-10186	59	6	zenner	zenner	NOUN
ajfa-10186	59	7	(	(	PUNCT
ajfa-10186	59	8	2005	2005	NUM
ajfa-10186	59	9	)	)	PUNCT
ajfa-10186	59	10	ague	ague	NOUN
ajfa-10186	59	11	that	that	PRON
ajfa-10186	59	12	a	a	DET
ajfa-10186	59	13	us	we	PRON
ajfa-10186	59	14	listing	list	VERB
ajfa-10186	59	15	in	in	ADP
ajfa-10186	59	16	the	the	DET
ajfa-10186	59	17	public	public	ADJ
ajfa-10186	59	18	exchange	exchange	NOUN
ajfa-10186	59	19	improves	improve	VERB
ajfa-10186	59	20	access	access	NOUN
ajfa-10186	59	21	to	to	ADP
ajfa-10186	59	22	capital	capital	NOUN
ajfa-10186	59	23	,	,	PUNCT
ajfa-10186	59	24	specially	specially	ADV
ajfa-10186	59	25	for	for	ADP
ajfa-10186	59	26	firms	firm	NOUN
ajfa-10186	59	27	from	from	ADP
ajfa-10186	59	28	emerging	emerge	VERB
ajfa-10186	59	29	market	market	NOUN
ajfa-10186	59	30	.	.	PUNCT
ajfa-10186	60	1	with	with	ADP
ajfa-10186	60	2	higher	high	ADJ
ajfa-10186	60	3	disclosure	disclosure	NOUN
ajfa-10186	60	4	and	and	CCONJ
ajfa-10186	60	5	accounting	accounting	NOUN
ajfa-10186	60	6	compliance	compliance	NOUN
ajfa-10186	60	7	requirement	requirement	NOUN
ajfa-10186	60	8	and	and	CCONJ
ajfa-10186	60	9	higher	high	ADJ
ajfa-10186	60	10	protection	protection	NOUN
ajfa-10186	60	11	on	on	ADP
ajfa-10186	60	12	minority	minority	NOUN
ajfa-10186	60	13	shareholders	shareholder	NOUN
ajfa-10186	60	14	’	'	PUNCT
ajfa-10186	60	15	rights	right	NOUN
ajfa-10186	60	16	,	,	PUNCT
ajfa-10186	60	17	us	us	PROPN
ajfa-10186	60	18	exchange	exchange	NOUN
ajfa-10186	60	19	listing	list	VERB
ajfa-10186	60	20	potentially	potentially	ADV
ajfa-10186	60	21	enhance	enhance	VERB
ajfa-10186	60	22	the	the	DET
ajfa-10186	60	23	protection	protection	NOUN
ajfa-10186	60	24	of	of	ADP
ajfa-10186	60	25	the	the	DET
ajfa-10186	60	26	minority	minority	NOUN
ajfa-10186	60	27	shareholders	shareholder	NOUN
ajfa-10186	60	28	and	and	CCONJ
ajfa-10186	60	29	reduce	reduce	VERB
ajfa-10186	60	30	the	the	DET
ajfa-10186	60	31	agency	agency	NOUN
ajfa-10186	60	32	costs	cost	NOUN
ajfa-10186	60	33	of	of	ADP
ajfa-10186	60	34	controlling	control	VERB
ajfa-10186	60	35	shareholders	shareholder	NOUN
ajfa-10186	60	36	.	.	PUNCT
ajfa-10186	61	1	however	however	ADV
ajfa-10186	61	2	,	,	PUNCT
ajfa-10186	61	3	rule	rule	VERB
ajfa-10186	61	4	144a	144a	ADJ
ajfa-10186	61	5	private	private	ADJ
ajfa-10186	61	6	placement	placement	NOUN
ajfa-10186	61	7	does	do	AUX
ajfa-10186	61	8	not	not	PART
ajfa-10186	61	9	require	require	VERB
ajfa-10186	61	10	such	such	ADJ
ajfa-10186	61	11	compliance	compliance	NOUN
ajfa-10186	61	12	with	with	ADP
ajfa-10186	61	13	sec	sec	PROPN
ajfa-10186	61	14	regulations	regulation	NOUN
ajfa-10186	61	15	.	.	PUNCT
ajfa-10186	62	1	consequently	consequently	ADV
ajfa-10186	62	2	,	,	PUNCT
ajfa-10186	62	3	non	non	ADJ
ajfa-10186	62	4	-	-	ADJ
ajfa-10186	62	5	us	us	ADJ
ajfa-10186	62	6	firms	firm	NOUN
ajfa-10186	62	7	in	in	ADP
ajfa-10186	62	8	rule	rule	NOUN
ajfa-10186	62	9	144a	144a	PROPN
ajfa-10186	62	10	will	will	AUX
ajfa-10186	62	11	not	not	PART
ajfa-10186	62	12	benefit	benefit	VERB
ajfa-10186	62	13	from	from	ADP
ajfa-10186	62	14	bonding	bonding	NOUN
ajfa-10186	62	15	and	and	CCONJ
ajfa-10186	62	16	monitoring	monitoring	NOUN
ajfa-10186	62	17	under	under	ADP
ajfa-10186	62	18	the	the	DET
ajfa-10186	62	19	us	us	PROPN
ajfa-10186	62	20	regulation	regulation	NOUN
ajfa-10186	62	21	.	.	PUNCT
ajfa-10186	63	1	3	3	X
ajfa-10186	63	2	.	.	X
ajfa-10186	63	3	data	datum	NOUN
ajfa-10186	63	4	description	description	NOUN
ajfa-10186	63	5	initial	initial	ADJ
ajfa-10186	63	6	sample	sample	NOUN
ajfa-10186	63	7	of	of	ADP
ajfa-10186	63	8	rule	rule	NOUN
ajfa-10186	63	9	144a	144a	ADJ
ajfa-10186	63	10	offerings	offering	NOUN
ajfa-10186	63	11	is	be	AUX
ajfa-10186	63	12	obtained	obtain	VERB
ajfa-10186	63	13	from	from	ADP
ajfa-10186	63	14	adr	adr	PROPN
ajfa-10186	63	15	database	database	NOUN
ajfa-10186	63	16	in	in	ADP
ajfa-10186	63	17	the	the	DET
ajfa-10186	63	18	bank	bank	NOUN
ajfa-10186	63	19	of	of	ADP
ajfa-10186	63	20	new	new	PROPN
ajfa-10186	63	21	york	york	PROPN
ajfa-10186	63	22	adr	adr	PROPN
ajfa-10186	63	23	division	division	PROPN
ajfa-10186	63	24	.	.	PUNCT
ajfa-10186	64	1	between	between	ADP
ajfa-10186	64	2	1991	1991	NUM
ajfa-10186	64	3	and	and	CCONJ
ajfa-10186	64	4	2002	2002	NUM
ajfa-10186	64	5	,	,	PUNCT
ajfa-10186	64	6	362	362	NUM
ajfa-10186	64	7	non	non	ADJ
ajfa-10186	64	8	-	-	ADJ
ajfa-10186	64	9	us	us	ADJ
ajfa-10186	64	10	firms	firm	NOUN
ajfa-10186	64	11	raise	raise	VERB
ajfa-10186	64	12	capital	capital	NOUN
ajfa-10186	64	13	in	in	ADP
ajfa-10186	64	14	the	the	DET
ajfa-10186	64	15	us	us	PROPN
ajfa-10186	64	16	through	through	ADP
ajfa-10186	64	17	rule	rule	NOUN
ajfa-10186	64	18	144a	144a	PROPN
ajfa-10186	64	19	private	private	ADJ
ajfa-10186	64	20	equity	equity	NOUN
ajfa-10186	64	21	offerings	offering	NOUN
ajfa-10186	64	22	.	.	PUNCT
ajfa-10186	65	1	we	we	PRON
ajfa-10186	65	2	collected	collect	VERB
ajfa-10186	65	3	stock	stock	NOUN
ajfa-10186	65	4	price	price	NOUN
ajfa-10186	65	5	data	datum	NOUN
ajfa-10186	65	6	from	from	ADP
ajfa-10186	65	7	datastream	datastream	NOUN
ajfa-10186	65	8	.	.	PUNCT
ajfa-10186	66	1	after	after	ADP
ajfa-10186	66	2	excluding	exclude	VERB
ajfa-10186	66	3	firms	firm	NOUN
ajfa-10186	66	4	with	with	ADP
ajfa-10186	66	5	no	no	DET
ajfa-10186	66	6	data	datum	NOUN
ajfa-10186	66	7	in	in	ADP
ajfa-10186	66	8	datastream	datastream	NOUN
ajfa-10186	66	9	,	,	PUNCT
ajfa-10186	66	10	we	we	PRON
ajfa-10186	66	11	have	have	VERB
ajfa-10186	66	12	220	220	NUM
ajfa-10186	66	13	non	non	ADJ
ajfa-10186	66	14	-	-	ADJ
ajfa-10186	66	15	us	us	ADJ
ajfa-10186	66	16	firms	firm	NOUN
ajfa-10186	66	17	.	.	PUNCT
ajfa-10186	67	1	from	from	ADP
ajfa-10186	67	2	table1	table1	PROPN
ajfa-10186	67	3	,	,	PUNCT
ajfa-10186	67	4	companies	company	NOUN
ajfa-10186	67	5	from	from	ADP
ajfa-10186	67	6	india	india	PROPN
ajfa-10186	67	7	are	be	AUX
ajfa-10186	67	8	the	the	DET
ajfa-10186	67	9	most	most	ADV
ajfa-10186	67	10	frequent	frequent	ADJ
ajfa-10186	67	11	issuers	issuer	NOUN
ajfa-10186	67	12	in	in	ADP
ajfa-10186	67	13	rule	rule	NOUN
ajfa-10186	67	14	144a	144a	ADJ
ajfa-10186	67	15	equity	equity	NOUN
ajfa-10186	67	16	market	market	NOUN
ajfa-10186	67	17	followed	follow	VERB
ajfa-10186	67	18	by	by	ADP
ajfa-10186	67	19	taiwan	taiwan	PROPN
ajfa-10186	67	20	,	,	PUNCT
ajfa-10186	67	21	korea	korea	PROPN
ajfa-10186	67	22	,	,	PUNCT
ajfa-10186	67	23	russia	russia	PROPN
ajfa-10186	67	24	,	,	PUNCT
ajfa-10186	67	25	mexico	mexico	PROPN
ajfa-10186	67	26	,	,	PUNCT
ajfa-10186	67	27	and	and	CCONJ
ajfa-10186	67	28	turkey	turkey	NOUN
ajfa-10186	67	29	.	.	PUNCT
ajfa-10186	68	1	among	among	ADP
ajfa-10186	68	2	the	the	DET
ajfa-10186	68	3	largest	large	ADJ
ajfa-10186	68	4	issuing	issue	VERB
ajfa-10186	68	5	countries	country	NOUN
ajfa-10186	68	6	,	,	PUNCT
ajfa-10186	68	7	datastream	datastream	NOUN
ajfa-10186	68	8	does	do	AUX
ajfa-10186	68	9	not	not	PART
ajfa-10186	68	10	cover	cover	VERB
ajfa-10186	68	11	russia	russia	PROPN
ajfa-10186	68	12	and	and	CCONJ
ajfa-10186	68	13	mexico	mexico	PROPN
ajfa-10186	68	14	.	.	PUNCT
ajfa-10186	69	1	we	we	PRON
ajfa-10186	69	2	collect	collect	VERB
ajfa-10186	69	3	country	country	NOUN
ajfa-10186	69	4	level	level	NOUN
ajfa-10186	69	5	variables	variable	NOUN
ajfa-10186	69	6	regarding	regard	VERB
ajfa-10186	69	7	shareholders	shareholder	NOUN
ajfa-10186	69	8	’	'	PUNCT
ajfa-10186	69	9	legal	legal	ADJ
ajfa-10186	69	10	protection	protection	NOUN
ajfa-10186	69	11	from	from	ADP
ajfa-10186	69	12	la	la	PROPN
ajfa-10186	69	13	porta	porta	PROPN
ajfa-10186	69	14	,	,	PUNCT
ajfa-10186	69	15	lopez	lopez	NOUN
ajfa-10186	69	16	,	,	PUNCT
ajfa-10186	69	17	shleifer	shleifer	NOUN
ajfa-10186	69	18	,	,	PUNCT
ajfa-10186	69	19	and	and	CCONJ
ajfa-10186	69	20	vishny	vishny	PROPN
ajfa-10186	69	21	(	(	PUNCT
ajfa-10186	69	22	llsv	llsv	PROPN
ajfa-10186	69	23	,	,	PUNCT
ajfa-10186	69	24	1998	1998	NUM
ajfa-10186	69	25	)	)	PUNCT
ajfa-10186	69	26	.	.	PUNCT
ajfa-10186	70	1	llsv(1998	llsv(1998	PROPN
ajfa-10186	70	2	)	)	PUNCT
ajfa-10186	70	3	provides	provide	VERB
ajfa-10186	70	4	legal	legal	ADJ
ajfa-10186	70	5	origin	origin	NOUN
ajfa-10186	70	6	of	of	ADP
ajfa-10186	70	7	the	the	DET
ajfa-10186	70	8	country	country	NOUN
ajfa-10186	70	9	,	,	PUNCT
ajfa-10186	70	10	index	index	NOUN
ajfa-10186	70	11	of	of	ADP
ajfa-10186	70	12	anti	anti	ADJ
ajfa-10186	70	13	-	-	ADJ
ajfa-10186	70	14	director	director	ADJ
ajfa-10186	70	15	rights	right	NOUN
ajfa-10186	70	16	,	,	PUNCT
ajfa-10186	70	17	and	and	CCONJ
ajfa-10186	70	18	judicial	judicial	ADJ
ajfa-10186	70	19	efficiency	efficiency	NOUN
ajfa-10186	70	20	.	.	PUNCT
ajfa-10186	71	1	english	english	ADJ
ajfa-10186	71	2	common	common	ADJ
ajfa-10186	71	3	law	law	NOUN
ajfa-10186	71	4	countries	country	NOUN
ajfa-10186	71	5	are	be	AUX
ajfa-10186	71	6	viewed	view	VERB
ajfa-10186	71	7	,	,	PUNCT
ajfa-10186	71	8	in	in	ADP
ajfa-10186	71	9	general	general	ADJ
ajfa-10186	71	10	,	,	PUNCT
ajfa-10186	71	11	as	as	ADP
ajfa-10186	71	12	providing	provide	VERB
ajfa-10186	71	13	higher	high	ADJ
ajfa-10186	71	14	investor	investor	NOUN
ajfa-10186	71	15	protection	protection	NOUN
ajfa-10186	71	16	than	than	ADP
ajfa-10186	71	17	french	french	ADJ
ajfa-10186	71	18	civil	civil	ADJ
ajfa-10186	71	19	law	law	NOUN
ajfa-10186	71	20	and	and	CCONJ
ajfa-10186	71	21	german	german	ADJ
ajfa-10186	71	22	asian	asian	ADJ
ajfa-10186	71	23	journal	journal	NOUN
ajfa-10186	71	24	of	of	ADP
ajfa-10186	71	25	finance	finance	PROPN
ajfa-10186	71	26	&	&	CCONJ
ajfa-10186	71	27	accounting	accounting	PROPN
ajfa-10186	71	28	issn	issn	PROPN
ajfa-10186	71	29	1946	1946	NUM
ajfa-10186	71	30	-	-	PUNCT
ajfa-10186	71	31	052x	052x	PROPN
ajfa-10186	71	32	2016	2016	NUM
ajfa-10186	71	33	,	,	PUNCT
ajfa-10186	71	34	vol	vol	NOUN
ajfa-10186	71	35	.	.	PROPN
ajfa-10186	71	36	8	8	NUM
ajfa-10186	71	37	,	,	PUNCT
ajfa-10186	71	38	no	no	INTJ
ajfa-10186	71	39	.	.	NOUN
ajfa-10186	71	40	2	2	NUM
ajfa-10186	71	41	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	71	42	129	129	NUM
ajfa-10186	71	43	countries	country	NOUN
ajfa-10186	71	44	.	.	PUNCT
ajfa-10186	72	1	scandinavian	scandinavian	ADJ
ajfa-10186	72	2	civil	civil	ADJ
ajfa-10186	72	3	law	law	NOUN
ajfa-10186	72	4	countries	country	NOUN
ajfa-10186	72	5	are	be	AUX
ajfa-10186	72	6	in	in	ADP
ajfa-10186	72	7	between	between	ADP
ajfa-10186	72	8	.	.	PUNCT
ajfa-10186	73	1	higher	high	ADJ
ajfa-10186	73	2	index	index	NOUN
ajfa-10186	73	3	number	number	NOUN
ajfa-10186	73	4	in	in	ADP
ajfa-10186	73	5	anti	anti	ADJ
ajfa-10186	73	6	-	-	ADJ
ajfa-10186	73	7	director	director	ADJ
ajfa-10186	73	8	rights	right	NOUN
ajfa-10186	73	9	and	and	CCONJ
ajfa-10186	73	10	judicial	judicial	ADJ
ajfa-10186	73	11	efficiency	efficiency	NOUN
ajfa-10186	73	12	indicates	indicate	VERB
ajfa-10186	73	13	higher	high	ADJ
ajfa-10186	73	14	investor	investor	NOUN
ajfa-10186	73	15	protector	protector	NOUN
ajfa-10186	73	16	.	.	PUNCT
ajfa-10186	74	1	table	table	NOUN
ajfa-10186	74	2	1	1	NUM
ajfa-10186	74	3	.	.	PUNCT
ajfa-10186	75	1	rule	rule	VERB
ajfa-10186	75	2	144a	144a	ADJ
ajfa-10186	75	3	issuance	issuance	NOUN
ajfa-10186	75	4	by	by	ADP
ajfa-10186	75	5	countries	country	NOUN
ajfa-10186	75	6	country	country	NOUN
ajfa-10186	75	7	initial	initial	ADJ
ajfa-10186	75	8	data	datum	NOUN
ajfa-10186	75	9	ds	ds	ADJ
ajfa-10186	75	10	data	datum	NOUN
ajfa-10186	75	11	legal	legal	ADJ
ajfa-10186	75	12	origin	origin	NOUN
ajfa-10186	75	13	anti	anti	ADJ
ajfa-10186	75	14	-	-	ADJ
ajfa-10186	75	15	direct	direct	ADJ
ajfa-10186	75	16	or	or	CCONJ
ajfa-10186	75	17	rights	right	NOUN
ajfa-10186	75	18	judicial	judicial	ADJ
ajfa-10186	75	19	efficiency	efficiency	NOUN
ajfa-10186	75	20	accounting	accounting	NOUN
ajfa-10186	75	21	standards	standard	NOUN
ajfa-10186	75	22	india	india	PROPN
ajfa-10186	75	23	53	53	NUM
ajfa-10186	75	24	39	39	NUM
ajfa-10186	75	25	english	english	NOUN
ajfa-10186	75	26	5	5	NUM
ajfa-10186	75	27	8.00	8.00	NUM
ajfa-10186	75	28	57	57	NUM
ajfa-10186	75	29	taiwan	taiwan	PROPN
ajfa-10186	75	30	41	41	NUM
ajfa-10186	75	31	38	38	NUM
ajfa-10186	75	32	german	german	NOUN
ajfa-10186	75	33	3	3	NUM
ajfa-10186	75	34	6.75	6.75	NUM
ajfa-10186	75	35	65	65	NUM
ajfa-10186	75	36	korea	korea	NOUN
ajfa-10186	75	37	22	22	NUM
ajfa-10186	75	38	20	20	NUM
ajfa-10186	75	39	german	german	NOUN
ajfa-10186	75	40	2	2	NUM
ajfa-10186	75	41	6.00	6.00	NUM
ajfa-10186	75	42	62	62	NUM
ajfa-10186	75	43	russia	russia	NOUN
ajfa-10186	75	44	18	18	NUM
ajfa-10186	75	45	0	0	NUM
ajfa-10186	75	46	na	na	NOUN
ajfa-10186	75	47	na	na	NOUN
ajfa-10186	75	48	na	na	ADP
ajfa-10186	75	49	na	na	ADP
ajfa-10186	75	50	mexico	mexico	PROPN
ajfa-10186	75	51	17	17	NUM
ajfa-10186	75	52	0	0	NUM
ajfa-10186	75	53	french	french	ADJ
ajfa-10186	75	54	1	1	NUM
ajfa-10186	75	55	6.00	6.00	NUM
ajfa-10186	75	56	60	60	NUM
ajfa-10186	75	57	turkey	turkey	NOUN
ajfa-10186	75	58	15	15	NUM
ajfa-10186	75	59	12	12	NUM
ajfa-10186	75	60	french	french	ADJ
ajfa-10186	75	61	2	2	NUM
ajfa-10186	75	62	4.00	4.00	NUM
ajfa-10186	75	63	51	51	NUM
ajfa-10186	75	64	poland	poland	NOUN
ajfa-10186	75	65	13	13	NUM
ajfa-10186	75	66	6	6	NUM
ajfa-10186	75	67	na	na	NOUN
ajfa-10186	75	68	na	na	NOUN
ajfa-10186	75	69	na	na	VERB
ajfa-10186	75	70	na	na	VERB
ajfa-10186	75	71	egypt	egypt	PROPN
ajfa-10186	75	72	9	9	NUM
ajfa-10186	75	73	5	5	NUM
ajfa-10186	75	74	na	na	NOUN
ajfa-10186	75	75	na	na	NOUN
ajfa-10186	75	76	na	na	NOUN
ajfa-10186	75	77	na	na	VERB
ajfa-10186	75	78	italy	italy	PROPN
ajfa-10186	75	79	9	9	NUM
ajfa-10186	75	80	7	7	NUM
ajfa-10186	75	81	french	french	ADJ
ajfa-10186	75	82	1	1	NUM
ajfa-10186	75	83	6.75	6.75	NUM
ajfa-10186	75	84	62	62	NUM
ajfa-10186	75	85	south	south	ADJ
ajfa-10186	75	86	africa	africa	PROPN
ajfa-10186	75	87	9	9	NUM
ajfa-10186	75	88	9	9	NUM
ajfa-10186	75	89	english	english	NOUN
ajfa-10186	75	90	5	5	NUM
ajfa-10186	75	91	6.00	6.00	NUM
ajfa-10186	75	92	70	70	NUM
ajfa-10186	75	93	greece	greece	NOUN
ajfa-10186	75	94	8	8	NUM
ajfa-10186	75	95	6	6	NUM
ajfa-10186	75	96	french	french	ADJ
ajfa-10186	75	97	2	2	NUM
ajfa-10186	75	98	7.00	7.00	NUM
ajfa-10186	75	99	55	55	NUM
ajfa-10186	75	100	hungary	hungary	NOUN
ajfa-10186	75	101	8	8	NUM
ajfa-10186	75	102	5	5	NUM
ajfa-10186	75	103	na	na	NOUN
ajfa-10186	75	104	na	na	NOUN
ajfa-10186	75	105	na	na	NOUN
ajfa-10186	75	106	na	na	PART
ajfa-10186	75	107	argentina	argentina	PROPN
ajfa-10186	75	108	7	7	NUM
ajfa-10186	75	109	5	5	NUM
ajfa-10186	75	110	french	french	ADJ
ajfa-10186	75	111	4	4	NUM
ajfa-10186	75	112	6.00	6.00	NUM
ajfa-10186	75	113	45	45	NUM
ajfa-10186	75	114	china	china	NOUN
ajfa-10186	75	115	7	7	NUM
ajfa-10186	75	116	2	2	NUM
ajfa-10186	75	117	na	na	NOUN
ajfa-10186	75	118	na	na	NOUN
ajfa-10186	75	119	na	na	ADP
ajfa-10186	75	120	na	na	VERB
ajfa-10186	75	121	australia	australia	PROPN
ajfa-10186	75	122	6	6	NUM
ajfa-10186	75	123	6	6	NUM
ajfa-10186	75	124	english	english	PROPN
ajfa-10186	75	125	4	4	NUM
ajfa-10186	75	126	10.00	10.00	NUM
ajfa-10186	75	127	75	75	NUM
ajfa-10186	75	128	france	france	NOUN
ajfa-10186	75	129	6	6	NUM
ajfa-10186	75	130	4	4	NUM
ajfa-10186	75	131	french	french	ADJ
ajfa-10186	75	132	3	3	NUM
ajfa-10186	75	133	8.00	8.00	NUM
ajfa-10186	75	134	69	69	NUM
ajfa-10186	75	135	philippines	philippine	NOUN
ajfa-10186	75	136	6	6	NUM
ajfa-10186	75	137	6	6	NUM
ajfa-10186	75	138	french	french	ADJ
ajfa-10186	75	139	3	3	NUM
ajfa-10186	75	140	4.75	4.75	NUM
ajfa-10186	75	141	65	65	NUM
ajfa-10186	75	142	switzerland	switzerland	NOUN
ajfa-10186	75	143	6	6	NUM
ajfa-10186	75	144	5	5	NUM
ajfa-10186	75	145	german	german	NOUN
ajfa-10186	75	146	2	2	NUM
ajfa-10186	75	147	10.00	10.00	NUM
ajfa-10186	75	148	68	68	NUM
ajfa-10186	75	149	uk	uk	PROPN
ajfa-10186	75	150	6	6	NUM
ajfa-10186	75	151	3	3	NUM
ajfa-10186	75	152	english	english	PROPN
ajfa-10186	75	153	5	5	NUM
ajfa-10186	75	154	10.00	10.00	NUM
ajfa-10186	75	155	78	78	NUM
ajfa-10186	75	156	columbia	columbia	NOUN
ajfa-10186	75	157	5	5	NUM
ajfa-10186	75	158	1	1	NUM
ajfa-10186	75	159	french	french	ADJ
ajfa-10186	75	160	3	3	NUM
ajfa-10186	75	161	7.25	7.25	NUM
ajfa-10186	75	162	50	50	NUM
ajfa-10186	75	163	japan	japan	NOUN
ajfa-10186	75	164	5	5	NUM
ajfa-10186	75	165	1	1	NUM
ajfa-10186	75	166	german	german	NOUN
ajfa-10186	75	167	4	4	NUM
ajfa-10186	75	168	10.00	10.00	NUM
ajfa-10186	75	169	65	65	NUM
ajfa-10186	75	170	germany	germany	PROPN
ajfa-10186	75	171	4	4	NUM
ajfa-10186	75	172	4	4	NUM
ajfa-10186	75	173	german	german	ADJ
ajfa-10186	75	174	1	1	NUM
ajfa-10186	75	175	9.00	9.00	NUM
ajfa-10186	75	176	62	62	NUM
ajfa-10186	75	177	peru	peru	NOUN
ajfa-10186	75	178	4	4	NUM
ajfa-10186	75	179	3	3	NUM
ajfa-10186	75	180	french	french	NOUN
ajfa-10186	75	181	3	3	NUM
ajfa-10186	75	182	6.75	6.75	NUM
ajfa-10186	75	183	38	38	NUM
ajfa-10186	75	184	portugal	portugal	PROPN
ajfa-10186	75	185	4	4	NUM
ajfa-10186	75	186	3	3	NUM
ajfa-10186	75	187	french	french	NOUN
ajfa-10186	75	188	3	3	NUM
ajfa-10186	75	189	5.50	5.50	NUM
ajfa-10186	75	190	36	36	NUM
ajfa-10186	75	191	spain	spain	NOUN
ajfa-10186	75	192	4	4	NUM
ajfa-10186	75	193	1	1	NUM
ajfa-10186	75	194	french	french	ADJ
ajfa-10186	75	195	4	4	NUM
ajfa-10186	75	196	6.25	6.25	NUM
ajfa-10186	75	197	64	64	NUM
ajfa-10186	75	198	austria	austria	NOUN
ajfa-10186	75	199	3	3	NUM
ajfa-10186	75	200	3	3	NUM
ajfa-10186	75	201	german	german	NOUN
ajfa-10186	75	202	2	2	NUM
ajfa-10186	75	203	9.50	9.50	NUM
ajfa-10186	75	204	54	54	NUM
ajfa-10186	75	205	brazil	brazil	PROPN
ajfa-10186	75	206	3	3	NUM
ajfa-10186	75	207	1	1	NUM
ajfa-10186	75	208	french	french	ADJ
ajfa-10186	75	209	3	3	NUM
ajfa-10186	75	210	5.75	5.75	NUM
ajfa-10186	75	211	54	54	NUM
ajfa-10186	75	212	chile	chile	NOUN
ajfa-10186	75	213	3	3	NUM
ajfa-10186	75	214	1	1	NUM
ajfa-10186	75	215	french	french	ADJ
ajfa-10186	75	216	5	5	NUM
ajfa-10186	75	217	7.25	7.25	NUM
ajfa-10186	75	218	52	52	NUM
ajfa-10186	75	219	croatia	croatia	NOUN
ajfa-10186	75	220	3	3	NUM
ajfa-10186	75	221	1	1	NUM
ajfa-10186	75	222	na	na	NOUN
ajfa-10186	75	223	na	na	NOUN
ajfa-10186	75	224	na	na	NOUN
ajfa-10186	75	225	na	na	VERB
ajfa-10186	75	226	finland	finland	PROPN
ajfa-10186	75	227	3	3	NUM
ajfa-10186	75	228	2	2	NUM
ajfa-10186	75	229	scandinavian	scandinavian	NOUN
ajfa-10186	75	230	3	3	NUM
ajfa-10186	75	231	10.00	10.00	NUM
ajfa-10186	75	232	77	77	NUM
ajfa-10186	75	233	ireland	ireland	NOUN
ajfa-10186	75	234	3	3	NUM
ajfa-10186	75	235	1	1	NUM
ajfa-10186	75	236	english	english	NOUN
ajfa-10186	75	237	4	4	NUM
ajfa-10186	75	238	8.75	8.75	NUM
ajfa-10186	75	239	74	74	NUM
ajfa-10186	75	240	israel	israel	PROPN
ajfa-10186	75	241	3	3	NUM
ajfa-10186	75	242	0	0	NUM
ajfa-10186	75	243	english	english	PROPN
ajfa-10186	75	244	3	3	NUM
ajfa-10186	75	245	10.00	10.00	NUM
ajfa-10186	75	246	64	64	NUM
ajfa-10186	75	247	lebanon	lebanon	PROPN
ajfa-10186	75	248	3	3	NUM
ajfa-10186	75	249	1	1	NUM
ajfa-10186	75	250	na	na	AUX
ajfa-10186	75	251	na	na	AUX
ajfa-10186	75	252	na	na	ADP
ajfa-10186	75	253	na	na	AUX
ajfa-10186	75	254	netherlands	netherlands	PROPN
ajfa-10186	75	255	3	3	NUM
ajfa-10186	75	256	1	1	NUM
ajfa-10186	75	257	french	french	ADJ
ajfa-10186	75	258	2	2	NUM
ajfa-10186	75	259	10.00	10.00	NUM
ajfa-10186	75	260	64	64	NUM
ajfa-10186	75	261	norway	norway	NOUN
ajfa-10186	75	262	3	3	NUM
ajfa-10186	75	263	2	2	NUM
ajfa-10186	75	264	scandinavian	scandinavian	NOUN
ajfa-10186	75	265	4	4	NUM
ajfa-10186	75	266	10.00	10.00	NUM
ajfa-10186	75	267	74	74	NUM
ajfa-10186	75	268	pakistan	pakistan	NOUN
ajfa-10186	75	269	3	3	NUM
ajfa-10186	75	270	1	1	NUM
ajfa-10186	75	271	english	english	NOUN
ajfa-10186	75	272	5	5	NUM
ajfa-10186	75	273	5.00	5.00	NUM
ajfa-10186	75	274	61	61	NUM
ajfa-10186	75	275	asian	asian	ADJ
ajfa-10186	75	276	journal	journal	NOUN
ajfa-10186	75	277	of	of	ADP
ajfa-10186	75	278	finance	finance	PROPN
ajfa-10186	75	279	&	&	CCONJ
ajfa-10186	75	280	accounting	accounting	PROPN
ajfa-10186	75	281	issn	issn	PROPN
ajfa-10186	75	282	1946	1946	NUM
ajfa-10186	75	283	-	-	PUNCT
ajfa-10186	75	284	052x	052x	PROPN
ajfa-10186	75	285	2016	2016	NUM
ajfa-10186	75	286	,	,	PUNCT
ajfa-10186	75	287	vol	vol	NOUN
ajfa-10186	75	288	.	.	PROPN
ajfa-10186	75	289	8	8	NUM
ajfa-10186	75	290	,	,	PUNCT
ajfa-10186	75	291	no	no	INTJ
ajfa-10186	75	292	.	.	NOUN
ajfa-10186	75	293	2	2	NUM
ajfa-10186	75	294	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	75	295	130	130	NUM
ajfa-10186	75	296	singapore	singapore	NOUN
ajfa-10186	75	297	3	3	NUM
ajfa-10186	75	298	3	3	NUM
ajfa-10186	75	299	english	english	NOUN
ajfa-10186	75	300	4	4	NUM
ajfa-10186	75	301	10.00	10.00	NUM
ajfa-10186	75	302	78	78	NUM
ajfa-10186	75	303	venezuela	venezuela	NOUN
ajfa-10186	75	304	3	3	NUM
ajfa-10186	75	305	3	3	NUM
ajfa-10186	75	306	french	french	NOUN
ajfa-10186	75	307	1	1	NUM
ajfa-10186	75	308	6.50	6.50	NUM
ajfa-10186	75	309	40	40	NUM
ajfa-10186	75	310	czech	czech	PROPN
ajfa-10186	75	311	republic	republic	NOUN
ajfa-10186	75	312	2	2	NUM
ajfa-10186	75	313	2	2	NUM
ajfa-10186	75	314	na	na	NOUN
ajfa-10186	75	315	na	na	NOUN
ajfa-10186	75	316	na	na	NOUN
ajfa-10186	75	317	na	na	VERB
ajfa-10186	75	318	estonia	estonia	PROPN
ajfa-10186	75	319	2	2	NUM
ajfa-10186	75	320	0	0	NUM
ajfa-10186	75	321	na	na	NOUN
ajfa-10186	75	322	na	na	NOUN
ajfa-10186	75	323	na	na	NOUN
ajfa-10186	75	324	na	na	ADP
ajfa-10186	75	325	indonesia	indonesia	PROPN
ajfa-10186	75	326	2	2	NUM
ajfa-10186	75	327	0	0	NUM
ajfa-10186	75	328	french	french	ADJ
ajfa-10186	75	329	2	2	NUM
ajfa-10186	75	330	3.98	3.98	NUM
ajfa-10186	75	331	65	65	NUM
ajfa-10186	75	332	kazakhstan	kazakhstan	PROPN
ajfa-10186	75	333	2	2	NUM
ajfa-10186	75	334	0	0	NUM
ajfa-10186	75	335	na	na	NOUN
ajfa-10186	75	336	na	na	NOUN
ajfa-10186	75	337	na	na	NOUN
ajfa-10186	75	338	na	na	VERB
ajfa-10186	75	339	lithuania	lithuania	PROPN
ajfa-10186	75	340	2	2	NUM
ajfa-10186	75	341	0	0	NUM
ajfa-10186	75	342	na	na	NOUN
ajfa-10186	75	343	na	na	NOUN
ajfa-10186	75	344	na	na	VERB
ajfa-10186	75	345	na	na	VERB
ajfa-10186	75	346	luxembourg	luxembourg	PROPN
ajfa-10186	75	347	2	2	NUM
ajfa-10186	75	348	0	0	NUM
ajfa-10186	75	349	na	na	NOUN
ajfa-10186	75	350	na	na	NOUN
ajfa-10186	75	351	na	na	NOUN
ajfa-10186	75	352	na	na	VERB
ajfa-10186	75	353	thailand	thailand	PROPN
ajfa-10186	75	354	2	2	NUM
ajfa-10186	75	355	1	1	NUM
ajfa-10186	75	356	english	english	NOUN
ajfa-10186	75	357	2	2	NUM
ajfa-10186	75	358	3.25	3.25	NUM
ajfa-10186	75	359	64	64	NUM
ajfa-10186	75	360	denmark	denmark	NOUN
ajfa-10186	75	361	1	1	NUM
ajfa-10186	75	362	0	0	NUM
ajfa-10186	75	363	scandinavian	scandinavian	NOUN
ajfa-10186	75	364	2	2	NUM
ajfa-10186	75	365	10.00	10.00	NUM
ajfa-10186	75	366	62	62	NUM
ajfa-10186	75	367	ecuador	ecuador	NOUN
ajfa-10186	75	368	1	1	NUM
ajfa-10186	75	369	1	1	NUM
ajfa-10186	75	370	na	na	NOUN
ajfa-10186	75	371	na	na	NOUN
ajfa-10186	75	372	na	na	NOUN
ajfa-10186	75	373	na	na	VERB
ajfa-10186	75	374	ghana	ghana	PROPN
ajfa-10186	75	375	1	1	NUM
ajfa-10186	75	376	1	1	NUM
ajfa-10186	75	377	na	na	NOUN
ajfa-10186	75	378	na	na	NOUN
ajfa-10186	75	379	na	na	NOUN
ajfa-10186	75	380	na	na	ADP
ajfa-10186	75	381	hong	hong	PROPN
ajfa-10186	75	382	kong	kong	PROPN
ajfa-10186	75	383	1	1	NUM
ajfa-10186	75	384	1	1	NUM
ajfa-10186	75	385	english	english	NOUN
ajfa-10186	75	386	5	5	NUM
ajfa-10186	75	387	10.00	10.00	NUM
ajfa-10186	75	388	69	69	NUM
ajfa-10186	75	389	jordan	jordan	NOUN
ajfa-10186	75	390	1	1	NUM
ajfa-10186	75	391	0	0	NUM
ajfa-10186	75	392	na	na	NOUN
ajfa-10186	75	393	na	na	NOUN
ajfa-10186	75	394	na	na	NOUN
ajfa-10186	75	395	na	na	VERB
ajfa-10186	75	396	latvia	latvia	PROPN
ajfa-10186	75	397	1	1	NUM
ajfa-10186	75	398	0	0	NUM
ajfa-10186	75	399	na	na	NOUN
ajfa-10186	75	400	na	na	NOUN
ajfa-10186	75	401	na	na	NOUN
ajfa-10186	75	402	na	na	VERB
ajfa-10186	75	403	malta	malta	PROPN
ajfa-10186	75	404	1	1	NUM
ajfa-10186	75	405	0	0	NUM
ajfa-10186	75	406	na	na	NOUN
ajfa-10186	75	407	na	na	NOUN
ajfa-10186	75	408	na	na	VERB
ajfa-10186	75	409	na	na	VERB
ajfa-10186	75	410	morocco	morocco	PROPN
ajfa-10186	75	411	1	1	NUM
ajfa-10186	75	412	1	1	NUM
ajfa-10186	75	413	na	na	NOUN
ajfa-10186	75	414	na	na	NOUN
ajfa-10186	75	415	na	na	NOUN
ajfa-10186	75	416	na	na	VERB
ajfa-10186	75	417	nigeria	nigeria	PROPN
ajfa-10186	75	418	1	1	NUM
ajfa-10186	75	419	0	0	NUM
ajfa-10186	75	420	na	na	NOUN
ajfa-10186	75	421	na	na	NOUN
ajfa-10186	75	422	na	na	ADP
ajfa-10186	75	423	na	na	VERB
ajfa-10186	75	424	qatar	qatar	PROPN
ajfa-10186	75	425	1	1	NUM
ajfa-10186	75	426	0	0	NUM
ajfa-10186	75	427	na	na	NOUN
ajfa-10186	75	428	na	na	NOUN
ajfa-10186	75	429	na	na	NOUN
ajfa-10186	75	430	na	na	VERB
ajfa-10186	75	431	romania	romania	PROPN
ajfa-10186	75	432	1	1	NUM
ajfa-10186	75	433	0	0	NUM
ajfa-10186	75	434	na	na	NOUN
ajfa-10186	75	435	na	na	NOUN
ajfa-10186	75	436	na	na	VERB
ajfa-10186	75	437	na	na	VERB
ajfa-10186	75	438	slovakia	slovakia	PROPN
ajfa-10186	75	439	1	1	NUM
ajfa-10186	75	440	0	0	NUM
ajfa-10186	75	441	na	na	NOUN
ajfa-10186	75	442	na	na	NOUN
ajfa-10186	75	443	na	na	NOUN
ajfa-10186	75	444	na	na	VERB
ajfa-10186	75	445	slovenia	slovenia	PROPN
ajfa-10186	75	446	1	1	NUM
ajfa-10186	75	447	0	0	NUM
ajfa-10186	75	448	na	na	NOUN
ajfa-10186	75	449	na	na	NOUN
ajfa-10186	75	450	na	na	VERB
ajfa-10186	75	451	na	na	VERB
ajfa-10186	75	452	sri	sri	PROPN
ajfa-10186	75	453	lanka	lanka	PROPN
ajfa-10186	75	454	1	1	NUM
ajfa-10186	75	455	1	1	NUM
ajfa-10186	75	456	na	na	AUX
ajfa-10186	75	457	na	na	AUX
ajfa-10186	75	458	na	na	NOUN
ajfa-10186	75	459	na	na	AUX
ajfa-10186	75	460	sweden	sweden	VERB
ajfa-10186	75	461	1	1	NUM
ajfa-10186	75	462	1	1	NUM
ajfa-10186	75	463	scandinavian	scandinavian	NOUN
ajfa-10186	75	464	3	3	NUM
ajfa-10186	75	465	10.00	10.00	NUM
ajfa-10186	75	466	83	83	NUM
ajfa-10186	75	467	tunisia	tunisia	NOUN
ajfa-10186	75	468	1	1	NUM
ajfa-10186	75	469	0	0	NUM
ajfa-10186	75	470	na	na	NOUN
ajfa-10186	75	471	na	na	NOUN
ajfa-10186	75	472	na	na	VERB
ajfa-10186	75	473	na	na	VERB
ajfa-10186	75	474	virgin	virgin	PROPN
ajfa-10186	75	475	islands	island	NOUN
ajfa-10186	75	476	1	1	NUM
ajfa-10186	75	477	0	0	NUM
ajfa-10186	75	478	na	na	NOUN
ajfa-10186	75	479	na	na	NOUN
ajfa-10186	75	480	na	na	PART
ajfa-10186	75	481	na	na	PART
ajfa-10186	75	482	total	total	VERB
ajfa-10186	75	483	362	362	NUM
ajfa-10186	75	484	220	220	NUM
ajfa-10186	75	485	we	we	PRON
ajfa-10186	75	486	added	add	VERB
ajfa-10186	75	487	index	index	NOUN
ajfa-10186	75	488	of	of	ADP
ajfa-10186	75	489	accounting	accounting	NOUN
ajfa-10186	75	490	standards	standard	NOUN
ajfa-10186	75	491	produced	produce	VERB
ajfa-10186	75	492	by	by	ADP
ajfa-10186	75	493	the	the	DET
ajfa-10186	75	494	center	center	NOUN
ajfa-10186	75	495	for	for	ADP
ajfa-10186	75	496	international	international	ADJ
ajfa-10186	75	497	financial	financial	ADJ
ajfa-10186	75	498	analysis	analysis	NOUN
ajfa-10186	75	499	and	and	CCONJ
ajfa-10186	75	500	research.iii	research.iii	X
ajfa-10186	75	501	from	from	ADP
ajfa-10186	75	502	table	table	NOUN
ajfa-10186	75	503	2	2	NUM
ajfa-10186	75	504	,	,	PUNCT
ajfa-10186	75	505	the	the	DET
ajfa-10186	75	506	private	private	ADJ
ajfa-10186	75	507	dr	dr	PROPN
ajfa-10186	75	508	issuers	issuer	NOUN
ajfa-10186	75	509	are	be	AUX
ajfa-10186	75	510	dominated	dominate	VERB
ajfa-10186	75	511	by	by	ADP
ajfa-10186	75	512	companies	company	NOUN
ajfa-10186	75	513	from	from	ADP
ajfa-10186	75	514	countries	country	NOUN
ajfa-10186	75	515	with	with	ADP
ajfa-10186	75	516	poorer	poor	ADJ
ajfa-10186	75	517	investor	investor	NOUN
ajfa-10186	75	518	protection	protection	NOUN
ajfa-10186	75	519	.	.	PUNCT
ajfa-10186	76	1	there	there	PRON
ajfa-10186	76	2	are	be	VERB
ajfa-10186	76	3	89	89	NUM
ajfa-10186	76	4	companies	company	NOUN
ajfa-10186	76	5	from	from	ADP
ajfa-10186	76	6	english	english	ADJ
ajfa-10186	76	7	common	common	ADJ
ajfa-10186	76	8	law	law	NOUN
ajfa-10186	76	9	origin	origin	NOUN
ajfa-10186	76	10	versus	versus	ADP
ajfa-10186	76	11	,	,	PUNCT
ajfa-10186	76	12	180	180	NUM
ajfa-10186	76	13	companies	company	NOUN
ajfa-10186	76	14	from	from	ADP
ajfa-10186	76	15	french	french	ADJ
ajfa-10186	76	16	or	or	CCONJ
ajfa-10186	76	17	german	german	ADJ
ajfa-10186	76	18	civil	civil	ADJ
ajfa-10186	76	19	law	law	NOUN
ajfa-10186	76	20	origin	origin	NOUN
ajfa-10186	76	21	.	.	PUNCT
ajfa-10186	77	1	anti	anti	ADJ
ajfa-10186	77	2	-	-	ADJ
ajfa-10186	77	3	director	director	ADJ
ajfa-10186	77	4	rights	right	NOUN
ajfa-10186	77	5	,	,	PUNCT
ajfa-10186	77	6	judicial	judicial	ADJ
ajfa-10186	77	7	efficiency	efficiency	NOUN
ajfa-10186	77	8	and	and	CCONJ
ajfa-10186	77	9	accounting	accounting	NOUN
ajfa-10186	77	10	standards	standard	NOUN
ajfa-10186	77	11	of	of	ADP
ajfa-10186	77	12	french	french	ADJ
ajfa-10186	77	13	and	and	CCONJ
ajfa-10186	77	14	german	german	ADJ
ajfa-10186	77	15	civil	civil	ADJ
ajfa-10186	77	16	law	law	NOUN
ajfa-10186	77	17	countries	country	NOUN
ajfa-10186	77	18	are	be	AUX
ajfa-10186	77	19	poor	poor	ADJ
ajfa-10186	77	20	compared	compare	VERB
ajfa-10186	77	21	with	with	ADP
ajfa-10186	77	22	english	english	ADJ
ajfa-10186	77	23	common	common	ADJ
ajfa-10186	77	24	law	law	NOUN
ajfa-10186	77	25	countries	country	NOUN
ajfa-10186	77	26	.	.	PUNCT
ajfa-10186	78	1	asian	asian	ADJ
ajfa-10186	78	2	journal	journal	PROPN
ajfa-10186	78	3	of	of	ADP
ajfa-10186	78	4	finance	finance	PROPN
ajfa-10186	78	5	&	&	CCONJ
ajfa-10186	78	6	accounting	accounting	PROPN
ajfa-10186	78	7	issn	issn	PROPN
ajfa-10186	78	8	1946	1946	NUM
ajfa-10186	78	9	-	-	PUNCT
ajfa-10186	78	10	052x	052x	PROPN
ajfa-10186	78	11	2016	2016	NUM
ajfa-10186	78	12	,	,	PUNCT
ajfa-10186	78	13	vol	vol	NOUN
ajfa-10186	78	14	.	.	PROPN
ajfa-10186	78	15	8	8	NUM
ajfa-10186	78	16	,	,	PUNCT
ajfa-10186	78	17	no	no	INTJ
ajfa-10186	78	18	.	.	NOUN
ajfa-10186	78	19	2	2	NUM
ajfa-10186	78	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	78	21	131	131	NUM
ajfa-10186	78	22	table	table	NOUN
ajfa-10186	78	23	2	2	NUM
ajfa-10186	78	24	.	.	PUNCT
ajfa-10186	79	1	legal	legal	ADJ
ajfa-10186	79	2	origins	origin	NOUN
ajfa-10186	79	3	and	and	CCONJ
ajfa-10186	79	4	investor	investor	NOUN
ajfa-10186	79	5	protection	protection	NOUN
ajfa-10186	79	6	initial	initial	ADJ
ajfa-10186	79	7	data	datum	NOUN
ajfa-10186	79	8	ds	ds	PROPN
ajfa-10186	79	9	data	datum	NOUN
ajfa-10186	79	10	anti	anti	ADJ
ajfa-10186	79	11	-	-	ADJ
ajfa-10186	79	12	director	director	ADJ
ajfa-10186	79	13	rights	right	NOUN
ajfa-10186	79	14	judicial	judicial	ADJ
ajfa-10186	79	15	efficiency	efficiency	NOUN
ajfa-10186	79	16	accounting	accounting	NOUN
ajfa-10186	79	17	standards	standard	NOUN
ajfa-10186	79	18	english	english	PROPN
ajfa-10186	79	19	common	common	ADJ
ajfa-10186	79	20	law	law	NOUN
ajfa-10186	79	21	89	89	NUM
ajfa-10186	79	22	64	64	NUM
ajfa-10186	79	23	4.2	4.2	NUM
ajfa-10186	80	1	[	[	X
ajfa-10186	80	2	4.5	4.5	NUM
ajfa-10186	80	3	]	]	SYM
ajfa-10186	80	4	8.1	8.1	NUM
ajfa-10186	81	1	[	[	X
ajfa-10186	81	2	9.4	9.4	NUM
ajfa-10186	81	3	]	]	SYM
ajfa-10186	81	4	69.0	69.0	NUM
ajfa-10186	81	5	[	[	X
ajfa-10186	81	6	69.5	69.5	NUM
ajfa-10186	81	7	]	]	X
ajfa-10186	81	8	french	french	ADJ
ajfa-10186	81	9	civil	civil	ADJ
ajfa-10186	81	10	law	law	NOUN
ajfa-10186	81	11	99	99	NUM
ajfa-10186	81	12	54	54	NUM
ajfa-10186	81	13	2.6	2.6	NUM
ajfa-10186	82	1	[	[	X
ajfa-10186	82	2	3.0	3.0	NUM
ajfa-10186	82	3	]	]	PUNCT
ajfa-10186	82	4	6.4	6.4	NUM
ajfa-10186	83	1	[	[	X
ajfa-10186	83	2	6.4	6.4	NUM
ajfa-10186	83	3	]	]	SYM
ajfa-10186	83	4	54.4	54.4	NUM
ajfa-10186	83	5	[	[	X
ajfa-10186	83	6	54.5	54.5	NUM
ajfa-10186	83	7	]	]	PUNCT
ajfa-10186	83	8	german	german	ADJ
ajfa-10186	83	9	civil	civil	ADJ
ajfa-10186	83	10	law	law	NOUN
ajfa-10186	83	11	81	81	NUM
ajfa-10186	83	12	71	71	NUM
ajfa-10186	83	13	2.3	2.3	NUM
ajfa-10186	83	14	[	[	PUNCT
ajfa-10186	83	15	2.0	2.0	NUM
ajfa-10186	83	16	]	]	SYM
ajfa-10186	83	17	8.5	8.5	NUM
ajfa-10186	84	1	[	[	X
ajfa-10186	84	2	9.3	9.3	NUM
ajfa-10186	84	3	]	]	PUNCT
ajfa-10186	84	4	62.7	62.7	NUM
ajfa-10186	84	5	[	[	SYM
ajfa-10186	84	6	63.5	63.5	NUM
ajfa-10186	84	7	]	]	PUNCT
ajfa-10186	84	8	scandinavian	scandinavian	ADJ
ajfa-10186	84	9	civil	civil	ADJ
ajfa-10186	84	10	law	law	NOUN
ajfa-10186	84	11	8	8	NUM
ajfa-10186	84	12	5	5	NUM
ajfa-10186	84	13	3.0	3.0	NUM
ajfa-10186	84	14	[	[	X
ajfa-10186	84	15	3.0	3.0	NUM
ajfa-10186	84	16	]	]	SYM
ajfa-10186	84	17	10.0	10.0	NUM
ajfa-10186	85	1	[	[	X
ajfa-10186	85	2	10.0	10.0	NUM
ajfa-10186	85	3	]	]	PUNCT
ajfa-10186	85	4	74.0	74.0	NUM
ajfa-10186	85	5	[	[	X
ajfa-10186	85	6	75.5	75.5	NUM
ajfa-10186	85	7	]	]	X
ajfa-10186	85	8	f	f	PROPN
ajfa-10186	86	1	[	[	X
ajfa-10186	86	2	χ2	χ2	X
ajfa-10186	86	3	]	]	PUNCT
ajfa-10186	87	1	5.58a	5.58a	NUM
ajfa-10186	87	2	[	[	X
ajfa-10186	87	3	11.63]a	11.63]a	X
ajfa-10186	87	4	5.67a	5.67a	NUM
ajfa-10186	88	1	[	[	X
ajfa-10186	88	2	12.02]a	12.02]a	NUM
ajfa-10186	88	3	8.59a	8.59a	NUM
ajfa-10186	88	4	[	[	X
ajfa-10186	88	5	14.41]a	14.41]a	NUM
ajfa-10186	88	6	a	a	X
ajfa-10186	88	7	:	:	PUNCT
ajfa-10186	88	8	significant	significant	ADJ
ajfa-10186	88	9	at	at	ADP
ajfa-10186	88	10	1	1	NUM
ajfa-10186	88	11	%	%	NOUN
ajfa-10186	88	12	significance	significance	NOUN
ajfa-10186	88	13	level	level	NOUN
ajfa-10186	88	14	4	4	NUM
ajfa-10186	88	15	.	.	PUNCT
ajfa-10186	88	16	model	model	VERB
ajfa-10186	88	17	the	the	DET
ajfa-10186	88	18	rational	rational	ADJ
ajfa-10186	88	19	expectation	expectation	NOUN
ajfa-10186	88	20	model	model	NOUN
ajfa-10186	88	21	and	and	CCONJ
ajfa-10186	88	22	signaling	signal	VERB
ajfa-10186	88	23	can	can	AUX
ajfa-10186	88	24	be	be	AUX
ajfa-10186	88	25	used	use	VERB
ajfa-10186	88	26	in	in	ADP
ajfa-10186	88	27	solving	solve	VERB
ajfa-10186	88	28	this	this	DET
ajfa-10186	88	29	problem	problem	NOUN
ajfa-10186	88	30	.	.	PUNCT
ajfa-10186	89	1	the	the	DET
ajfa-10186	89	2	objective	objective	ADJ
ajfa-10186	89	3	function	function	NOUN
ajfa-10186	89	4	of	of	ADP
ajfa-10186	89	5	firm	firm	ADJ
ajfa-10186	89	6	value	value	NOUN
ajfa-10186	89	7	maximizing	maximizing	NOUN
ajfa-10186	89	8	manager	manager	NOUN
ajfa-10186	89	9	includes	include	VERB
ajfa-10186	89	10	proprietary	proprietary	ADJ
ajfa-10186	89	11	costs	cost	NOUN
ajfa-10186	89	12	(	(	PUNCT
ajfa-10186	89	13	c	c	NOUN
ajfa-10186	89	14	)	)	PUNCT
ajfa-10186	89	15	,	,	PUNCT
ajfa-10186	89	16	financing	financing	NOUN
ajfa-10186	89	17	costs	cost	NOUN
ajfa-10186	89	18	(	(	PUNCT
ajfa-10186	89	19	f	f	X
ajfa-10186	89	20	)	)	PUNCT
ajfa-10186	89	21	,	,	PUNCT
ajfa-10186	89	22	monitoring	monitor	VERB
ajfa-10186	89	23	benefits	benefit	NOUN
ajfa-10186	89	24	of	of	ADP
ajfa-10186	89	25	private	private	ADJ
ajfa-10186	89	26	financing	financing	NOUN
ajfa-10186	89	27	(	(	PUNCT
ajfa-10186	89	28	m	m	NOUN
ajfa-10186	89	29	)	)	PUNCT
ajfa-10186	89	30	and	and	CCONJ
ajfa-10186	89	31	the	the	DET
ajfa-10186	89	32	valuation	valuation	NOUN
ajfa-10186	89	33	loss	loss	NOUN
ajfa-10186	89	34	from	from	ADP
ajfa-10186	89	35	rent	rent	NOUN
ajfa-10186	89	36	seeking	seek	VERB
ajfa-10186	89	37	activities	activity	NOUN
ajfa-10186	89	38	(	(	PUNCT
ajfa-10186	89	39	r	r	NOUN
ajfa-10186	89	40	)	)	PUNCT
ajfa-10186	89	41	.	.	PUNCT
ajfa-10186	89	42	)	)	PUNCT
ajfa-10186	89	43	)	)	PUNCT
ajfa-10186	89	44	,	,	PUNCT
ajfa-10186	89	45	(	(	PUNCT
ajfa-10186	89	46	(:	(:	VERB
ajfa-10186	89	47	financingequitypublic	financingequitypublic	ADJ
ajfa-10186	89	48	)	)	PUNCT
ajfa-10186	89	49	)	)	PUNCT
ajfa-10186	90	1	(	(	PUNCT
ajfa-10186	90	2	|),((:financingequityprivate	|),((:financingequityprivate	VERB
ajfa-10186	90	3	cgcfveev	cgcfveev	PROPN
ajfa-10186	90	4	gmigrfveev	gmigrfveev	PROPN
ajfa-10186	90	5	hpu	hpu	PROPN
ajfa-10186	90	6	lpr	lpr	PROPN
ajfa-10186	90	7	−−=	−−=	PROPN
ajfa-10186	90	8	−−=	−−=	PROPN
ajfa-10186	90	9	evpr	evpr	NOUN
ajfa-10186	90	10	and	and	CCONJ
ajfa-10186	90	11	evpu	evpu	NOUN
ajfa-10186	90	12	represent	represent	VERB
ajfa-10186	90	13	expected	expect	VERB
ajfa-10186	90	14	value	value	NOUN
ajfa-10186	90	15	of	of	ADP
ajfa-10186	90	16	project	project	NOUN
ajfa-10186	90	17	from	from	ADP
ajfa-10186	90	18	private	private	ADJ
ajfa-10186	90	19	equity	equity	NOUN
ajfa-10186	90	20	financing	financing	NOUN
ajfa-10186	90	21	and	and	CCONJ
ajfa-10186	90	22	public	public	ADJ
ajfa-10186	90	23	equity	equity	NOUN
ajfa-10186	90	24	financing	financing	NOUN
ajfa-10186	90	25	,	,	PUNCT
ajfa-10186	90	26	respectively	respectively	ADV
ajfa-10186	90	27	.	.	PUNCT
ajfa-10186	91	1	v	v	NOUN
ajfa-10186	91	2	is	be	AUX
ajfa-10186	91	3	the	the	DET
ajfa-10186	91	4	revenue	revenue	NOUN
ajfa-10186	91	5	from	from	ADP
ajfa-10186	91	6	the	the	DET
ajfa-10186	91	7	project	project	NOUN
ajfa-10186	91	8	.	.	PUNCT
ajfa-10186	92	1	v	v	NOUN
ajfa-10186	92	2	is	be	AUX
ajfa-10186	92	3	distributed	distribute	VERB
ajfa-10186	92	4	normally	normally	ADV
ajfa-10186	92	5	with	with	ADP
ajfa-10186	92	6	mean	mean	PROPN
ajfa-10186	92	7	μ	μ	PROPN
ajfa-10186	92	8	and	and	CCONJ
ajfa-10186	92	9	variance	variance	NOUN
ajfa-10186	92	10	2σ	2σ	NUM
ajfa-10186	92	11	.	.	PUNCT
ajfa-10186	93	1	fl	fl	PROPN
ajfa-10186	93	2	and	and	CCONJ
ajfa-10186	93	3	fh	fh	PROPN
ajfa-10186	93	4	are	be	AUX
ajfa-10186	93	5	financing	finance	VERB
ajfa-10186	93	6	costs	cost	NOUN
ajfa-10186	93	7	of	of	ADP
ajfa-10186	93	8	private	private	ADJ
ajfa-10186	93	9	and	and	CCONJ
ajfa-10186	93	10	public	public	ADJ
ajfa-10186	93	11	equity	equity	NOUN
ajfa-10186	93	12	offering	offering	NOUN
ajfa-10186	93	13	,	,	PUNCT
ajfa-10186	93	14	where	where	SCONJ
ajfa-10186	93	15	fl	fl	ADP
ajfa-10186	93	16	<	<	X
ajfa-10186	93	17	fh	fh	PROPN
ajfa-10186	93	18	.	.	PUNCT
ajfa-10186	94	1	the	the	DET
ajfa-10186	94	2	financing	financing	NOUN
ajfa-10186	94	3	costs	cost	NOUN
ajfa-10186	94	4	include	include	VERB
ajfa-10186	94	5	discounts	discount	NOUN
ajfa-10186	94	6	due	due	ADJ
ajfa-10186	94	7	to	to	ADP
ajfa-10186	94	8	informational	informational	ADJ
ajfa-10186	94	9	asymmetry	asymmetry	NOUN
ajfa-10186	94	10	and	and	CCONJ
ajfa-10186	94	11	floatation	floatation	NOUN
ajfa-10186	94	12	costs	cost	NOUN
ajfa-10186	94	13	(	(	PUNCT
ajfa-10186	94	14	see	see	VERB
ajfa-10186	94	15	besley	besley	NOUN
ajfa-10186	94	16	and	and	CCONJ
ajfa-10186	94	17	kohers	koher	NOUN
ajfa-10186	94	18	,	,	PUNCT
ajfa-10186	94	19	2007	2007	NUM
ajfa-10186	94	20	)	)	PUNCT
ajfa-10186	94	21	.	.	PUNCT
ajfa-10186	95	1	c(g	c(g	PROPN
ajfa-10186	95	2	,	,	PUNCT
ajfa-10186	95	3	c	c	NOUN
ajfa-10186	95	4	)	)	PUNCT
ajfa-10186	95	5	is	be	AUX
ajfa-10186	95	6	proprietary	proprietary	ADJ
ajfa-10186	95	7	costs	cost	NOUN
ajfa-10186	95	8	associated	associate	VERB
ajfa-10186	95	9	with	with	ADP
ajfa-10186	95	10	public	public	ADJ
ajfa-10186	95	11	equity	equity	NOUN
ajfa-10186	95	12	financing	financing	NOUN
ajfa-10186	95	13	(	(	PUNCT
ajfa-10186	95	14	see	see	VERB
ajfa-10186	95	15	dye	dye	PROPN
ajfa-10186	95	16	,	,	PUNCT
ajfa-10186	95	17	1985	1985	NUM
ajfa-10186	95	18	,	,	PUNCT
ajfa-10186	95	19	1998	1998	NUM
ajfa-10186	95	20	)	)	PUNCT
ajfa-10186	95	21	,	,	PUNCT
ajfa-10186	95	22	which	which	PRON
ajfa-10186	95	23	is	be	AUX
ajfa-10186	95	24	increasing	increase	VERB
ajfa-10186	95	25	function	function	NOUN
ajfa-10186	95	26	of	of	ADP
ajfa-10186	95	27	the	the	DET
ajfa-10186	95	28	project	project	NOUN
ajfa-10186	95	29	quality	quality	NOUN
ajfa-10186	95	30	,	,	PUNCT
ajfa-10186	95	31	g	g	NOUN
ajfa-10186	95	32	,	,	PUNCT
ajfa-10186	95	33	and	and	CCONJ
ajfa-10186	95	34	industry	industry	NOUN
ajfa-10186	95	35	competition	competition	NOUN
ajfa-10186	95	36	,	,	PUNCT
ajfa-10186	95	37	c.	c.	NOUN
ajfa-10186	95	38	intuition	intuition	NOUN
ajfa-10186	95	39	is	be	AUX
ajfa-10186	95	40	that	that	SCONJ
ajfa-10186	95	41	,	,	PUNCT
ajfa-10186	95	42	the	the	PRON
ajfa-10186	95	43	higher	high	ADJ
ajfa-10186	95	44	the	the	DET
ajfa-10186	95	45	project	project	NOUN
ajfa-10186	95	46	quality	quality	NOUN
ajfa-10186	95	47	,	,	PUNCT
ajfa-10186	95	48	the	the	DET
ajfa-10186	95	49	more	more	ADJ
ajfa-10186	95	50	to	to	PART
ajfa-10186	95	51	lose	lose	VERB
ajfa-10186	95	52	if	if	SCONJ
ajfa-10186	95	53	the	the	DET
ajfa-10186	95	54	firm	firm	NOUN
ajfa-10186	95	55	’s	’s	PART
ajfa-10186	95	56	private	private	ADJ
ajfa-10186	95	57	information	information	NOUN
ajfa-10186	95	58	is	be	AUX
ajfa-10186	95	59	disclosed	disclose	VERB
ajfa-10186	95	60	to	to	ADP
ajfa-10186	95	61	its	its	PRON
ajfa-10186	95	62	competitors	competitor	NOUN
ajfa-10186	95	63	.	.	PUNCT
ajfa-10186	96	1	m(g	m(g	PROPN
ajfa-10186	96	2	)	)	PUNCT
ajfa-10186	96	3	is	be	AUX
ajfa-10186	96	4	monitoring	monitor	VERB
ajfa-10186	96	5	benefits	benefit	NOUN
ajfa-10186	96	6	from	from	ADP
ajfa-10186	96	7	private	private	ADJ
ajfa-10186	96	8	equity	equity	NOUN
ajfa-10186	96	9	financing	financing	NOUN
ajfa-10186	96	10	,	,	PUNCT
ajfa-10186	96	11	which	which	PRON
ajfa-10186	96	12	is	be	AUX
ajfa-10186	96	13	decreasing	decrease	VERB
ajfa-10186	96	14	function	function	NOUN
ajfa-10186	96	15	of	of	ADP
ajfa-10186	96	16	g.	g.	PROPN
ajfa-10186	96	17	r(g	r(g	PROPN
ajfa-10186	96	18	)	)	PUNCT
ajfa-10186	96	19	is	be	AUX
ajfa-10186	96	20	the	the	DET
ajfa-10186	96	21	rents	rent	NOUN
ajfa-10186	96	22	demanded	demand	VERB
ajfa-10186	96	23	by	by	ADP
ajfa-10186	96	24	inside	inside	ADJ
ajfa-10186	96	25	financiers	financier	NOUN
ajfa-10186	96	26	.	.	PUNCT
ajfa-10186	97	1	the	the	DET
ajfa-10186	97	2	information	information	NOUN
ajfa-10186	97	3	monopoly	monopoly	NOUN
ajfa-10186	97	4	of	of	ADP
ajfa-10186	97	5	inside	inside	ADJ
ajfa-10186	97	6	financiers	financier	NOUN
ajfa-10186	97	7	gives	give	VERB
ajfa-10186	97	8	them	they	PRON
ajfa-10186	97	9	the	the	DET
ajfa-10186	97	10	proprietary	proprietary	ADJ
ajfa-10186	97	11	rights	right	NOUN
ajfa-10186	97	12	to	to	PART
ajfa-10186	97	13	extract	extract	VERB
ajfa-10186	97	14	rents	rent	NOUN
ajfa-10186	97	15	.	.	PUNCT
ajfa-10186	98	1	r(g	r(g	NUM
ajfa-10186	98	2	)	)	PUNCT
ajfa-10186	98	3	is	be	AUX
ajfa-10186	98	4	increasing	increase	VERB
ajfa-10186	98	5	function	function	NOUN
ajfa-10186	98	6	of	of	ADP
ajfa-10186	98	7	the	the	DET
ajfa-10186	98	8	project	project	NOUN
ajfa-10186	98	9	profitability	profitability	NOUN
ajfa-10186	98	10	and	and	CCONJ
ajfa-10186	98	11	decreasing	decrease	VERB
ajfa-10186	98	12	function	function	NOUN
ajfa-10186	98	13	of	of	ADP
ajfa-10186	98	14	the	the	DET
ajfa-10186	98	15	information	information	NOUN
ajfa-10186	98	16	advantage	advantage	NOUN
ajfa-10186	98	17	over	over	ADP
ajfa-10186	98	18	outsider	outsider	NOUN
ajfa-10186	98	19	investors	investor	NOUN
ajfa-10186	98	20	,	,	PUNCT
ajfa-10186	98	21	i.	i.	NOUN
ajfa-10186	98	22	the	the	DET
ajfa-10186	98	23	main	main	ADJ
ajfa-10186	98	24	result	result	NOUN
ajfa-10186	98	25	we	we	PRON
ajfa-10186	98	26	want	want	VERB
ajfa-10186	98	27	to	to	PART
ajfa-10186	98	28	prove	prove	VERB
ajfa-10186	98	29	is	be	AUX
ajfa-10186	98	30	as	as	ADP
ajfa-10186	98	31	followings	following	NOUN
ajfa-10186	98	32	.	.	PUNCT
ajfa-10186	99	1	for	for	ADP
ajfa-10186	99	2	a	a	DET
ajfa-10186	99	3	given	give	VERB
ajfa-10186	99	4	level	level	NOUN
ajfa-10186	99	5	of	of	ADP
ajfa-10186	99	6	c	c	PROPN
ajfa-10186	99	7	and	and	CCONJ
ajfa-10186	99	8	i	i	PRON
ajfa-10186	99	9	,	,	PUNCT
ajfa-10186	99	10	there	there	PRON
ajfa-10186	99	11	will	will	AUX
ajfa-10186	99	12	be	be	AUX
ajfa-10186	99	13	unique	unique	ADJ
ajfa-10186	99	14	level	level	NOUN
ajfa-10186	99	15	of	of	ADP
ajfa-10186	99	16	project	project	NOUN
ajfa-10186	99	17	quality	quality	NOUN
ajfa-10186	99	18	,	,	PUNCT
ajfa-10186	99	19	g	g	PROPN
ajfa-10186	99	20	*	*	PUNCT
ajfa-10186	99	21	,	,	PUNCT
ajfa-10186	99	22	above	above	ADP
ajfa-10186	99	23	which	which	PRON
ajfa-10186	99	24	private	private	ADJ
ajfa-10186	99	25	equity	equity	NOUN
ajfa-10186	99	26	financing	financing	NOUN
ajfa-10186	99	27	is	be	AUX
ajfa-10186	99	28	strictly	strictly	ADV
ajfa-10186	99	29	preferred	prefer	VERB
ajfa-10186	99	30	,	,	PUNCT
ajfa-10186	99	31	and	and	CCONJ
ajfa-10186	99	32	below	below	ADP
ajfa-10186	99	33	which	which	PRON
ajfa-10186	99	34	public	public	ADJ
ajfa-10186	99	35	equity	equity	NOUN
ajfa-10186	99	36	financing	financing	NOUN
ajfa-10186	99	37	is	be	AUX
ajfa-10186	99	38	strictly	strictly	ADV
ajfa-10186	99	39	dominant	dominant	ADJ
ajfa-10186	99	40	.	.	PUNCT
ajfa-10186	100	1	as	as	ADP
ajfa-10186	100	2	the	the	DET
ajfa-10186	100	3	project	project	NOUN
ajfa-10186	100	4	quality	quality	NOUN
ajfa-10186	100	5	(	(	PUNCT
ajfa-10186	100	6	g	g	NOUN
ajfa-10186	100	7	)	)	PUNCT
ajfa-10186	100	8	increases	increase	NOUN
ajfa-10186	100	9	,	,	PUNCT
ajfa-10186	100	10	the	the	DET
ajfa-10186	100	11	sum	sum	NOUN
ajfa-10186	100	12	of	of	ADP
ajfa-10186	100	13	the	the	DET
ajfa-10186	100	14	benefits	benefit	NOUN
ajfa-10186	100	15	from	from	ADP
ajfa-10186	100	16	concealing	conceal	VERB
ajfa-10186	100	17	private	private	ADJ
ajfa-10186	100	18	information	information	NOUN
ajfa-10186	100	19	and	and	CCONJ
ajfa-10186	100	20	monitoring	monitoring	NOUN
ajfa-10186	100	21	increases	increase	NOUN
ajfa-10186	100	22	faster	fast	ADV
ajfa-10186	100	23	than	than	ADP
ajfa-10186	100	24	the	the	DET
ajfa-10186	100	25	cost	cost	NOUN
ajfa-10186	100	26	of	of	ADP
ajfa-10186	100	27	rent	rent	NOUN
ajfa-10186	100	28	by	by	ADP
ajfa-10186	100	29	inside	inside	ADJ
ajfa-10186	100	30	financiers	financier	NOUN
ajfa-10186	100	31	.	.	PUNCT
ajfa-10186	101	1	the	the	DET
ajfa-10186	101	2	cost	cost	NOUN
ajfa-10186	101	3	of	of	ADP
ajfa-10186	101	4	rent	rent	NOUN
ajfa-10186	101	5	by	by	ADP
ajfa-10186	101	6	inside	inside	ADJ
ajfa-10186	101	7	financiers	financier	NOUN
ajfa-10186	101	8	is	be	AUX
ajfa-10186	101	9	asian	asian	ADJ
ajfa-10186	101	10	journal	journal	NOUN
ajfa-10186	101	11	of	of	ADP
ajfa-10186	101	12	finance	finance	PROPN
ajfa-10186	101	13	&	&	CCONJ
ajfa-10186	101	14	accounting	accounting	PROPN
ajfa-10186	101	15	issn	issn	PROPN
ajfa-10186	101	16	1946	1946	NUM
ajfa-10186	101	17	-	-	PUNCT
ajfa-10186	101	18	052x	052x	PROPN
ajfa-10186	101	19	2016	2016	NUM
ajfa-10186	101	20	,	,	PUNCT
ajfa-10186	101	21	vol	vol	NOUN
ajfa-10186	101	22	.	.	PROPN
ajfa-10186	101	23	8	8	NUM
ajfa-10186	101	24	,	,	PUNCT
ajfa-10186	101	25	no	no	INTJ
ajfa-10186	101	26	.	.	NOUN
ajfa-10186	101	27	2	2	NUM
ajfa-10186	101	28	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	101	29	132	132	NUM
ajfa-10186	101	30	bounded	bound	VERB
ajfa-10186	101	31	not	not	PART
ajfa-10186	101	32	only	only	ADV
ajfa-10186	101	33	by	by	ADP
ajfa-10186	101	34	i	i	PRON
ajfa-10186	101	35	,	,	PUNCT
ajfa-10186	101	36	but	but	CCONJ
ajfa-10186	101	37	also	also	ADV
ajfa-10186	101	38	by	by	ADP
ajfa-10186	101	39	the	the	DET
ajfa-10186	101	40	sum	sum	NOUN
ajfa-10186	101	41	of	of	ADP
ajfa-10186	101	42	the	the	DET
ajfa-10186	101	43	benefits	benefit	NOUN
ajfa-10186	101	44	from	from	ADP
ajfa-10186	101	45	concealing	conceal	VERB
ajfa-10186	101	46	private	private	ADJ
ajfa-10186	101	47	information	information	NOUN
ajfa-10186	101	48	and	and	CCONJ
ajfa-10186	101	49	monitoring	monitoring	NOUN
ajfa-10186	101	50	.	.	PUNCT
ajfa-10186	102	1	industry	industry	NOUN
ajfa-10186	102	2	competition	competition	NOUN
ajfa-10186	102	3	has	have	VERB
ajfa-10186	102	4	an	an	DET
ajfa-10186	102	5	important	important	ADJ
ajfa-10186	102	6	role	role	NOUN
ajfa-10186	102	7	in	in	ADP
ajfa-10186	102	8	determining	determine	VERB
ajfa-10186	102	9	inter	inter	ADJ
ajfa-10186	102	10	-	-	ADJ
ajfa-10186	102	11	industry	industry	ADJ
ajfa-10186	102	12	patterns	pattern	NOUN
ajfa-10186	102	13	of	of	ADP
ajfa-10186	102	14	private	private	ADJ
ajfa-10186	102	15	versus	versus	ADP
ajfa-10186	102	16	public	public	ADJ
ajfa-10186	102	17	equity	equity	NOUN
ajfa-10186	102	18	financing	financing	NOUN
ajfa-10186	102	19	.	.	PUNCT
ajfa-10186	103	1	5	5	X
ajfa-10186	103	2	.	.	X
ajfa-10186	103	3	proposal	proposal	NOUN
ajfa-10186	103	4	for	for	ADP
ajfa-10186	103	5	empirical	empirical	ADJ
ajfa-10186	103	6	tests	test	NOUN
ajfa-10186	103	7	for	for	ADP
ajfa-10186	103	8	further	further	ADJ
ajfa-10186	103	9	analysis	analysis	NOUN
ajfa-10186	103	10	,	,	PUNCT
ajfa-10186	103	11	we	we	PRON
ajfa-10186	103	12	can	can	AUX
ajfa-10186	103	13	test	test	VERB
ajfa-10186	103	14	the	the	DET
ajfa-10186	103	15	price	price	NOUN
ajfa-10186	103	16	run	run	NOUN
ajfa-10186	103	17	-	-	PUNCT
ajfa-10186	103	18	up	up	NOUN
ajfa-10186	103	19	before	before	ADP
ajfa-10186	103	20	the	the	DET
ajfa-10186	103	21	private	private	ADJ
ajfa-10186	103	22	dr	dr	PROPN
ajfa-10186	103	23	issuance	issuance	NOUN
ajfa-10186	103	24	,	,	PUNCT
ajfa-10186	103	25	announcement	announcement	NOUN
ajfa-10186	103	26	return	return	NOUN
ajfa-10186	103	27	,	,	PUNCT
ajfa-10186	103	28	and	and	CCONJ
ajfa-10186	103	29	long	long	ADJ
ajfa-10186	103	30	-	-	PUNCT
ajfa-10186	103	31	term	term	NOUN
ajfa-10186	103	32	performance	performance	NOUN
ajfa-10186	103	33	in	in	ADP
ajfa-10186	103	34	the	the	DET
ajfa-10186	103	35	post	post	ADJ
ajfa-10186	103	36	-	-	ADJ
ajfa-10186	103	37	issue	issue	NOUN
ajfa-10186	103	38	period	period	NOUN
ajfa-10186	103	39	.	.	PUNCT
ajfa-10186	104	1	additional	additional	ADJ
ajfa-10186	104	2	tests	test	NOUN
ajfa-10186	104	3	include	include	VERB
ajfa-10186	104	4	the	the	DET
ajfa-10186	104	5	post	post	ADJ
ajfa-10186	104	6	-	-	ADJ
ajfa-10186	104	7	listing	list	VERB
ajfa-10186	104	8	capital	capital	NOUN
ajfa-10186	104	9	raising	raise	VERB
ajfa-10186	104	10	activities	activity	NOUN
ajfa-10186	104	11	and	and	CCONJ
ajfa-10186	104	12	the	the	DET
ajfa-10186	104	13	change	change	NOUN
ajfa-10186	104	14	in	in	ADP
ajfa-10186	104	15	investment	investment	NOUN
ajfa-10186	104	16	rate	rate	NOUN
ajfa-10186	104	17	around	around	ADP
ajfa-10186	104	18	listing	list	VERB
ajfa-10186	104	19	.	.	PUNCT
ajfa-10186	105	1	if	if	SCONJ
ajfa-10186	105	2	the	the	DET
ajfa-10186	105	3	us	us	PROPN
ajfa-10186	105	4	capital	capital	NOUN
ajfa-10186	105	5	raising	raising	NOUN
ajfa-10186	105	6	relaxes	relax	VERB
ajfa-10186	105	7	financial	financial	ADJ
ajfa-10186	105	8	constraints	constraint	NOUN
ajfa-10186	105	9	,	,	PUNCT
ajfa-10186	105	10	we	we	PRON
ajfa-10186	105	11	expect	expect	VERB
ajfa-10186	105	12	that	that	SCONJ
ajfa-10186	105	13	the	the	DET
ajfa-10186	105	14	private	private	ADJ
ajfa-10186	105	15	dr	dr	PROPN
ajfa-10186	105	16	issuers	issuer	NOUN
ajfa-10186	105	17	raise	raise	VERB
ajfa-10186	105	18	more	more	ADJ
ajfa-10186	105	19	capital	capital	NOUN
ajfa-10186	105	20	subsequently	subsequently	ADV
ajfa-10186	105	21	and	and	CCONJ
ajfa-10186	105	22	invest	invest	VERB
ajfa-10186	105	23	more	more	ADJ
ajfa-10186	105	24	.	.	PUNCT
ajfa-10186	106	1	if	if	SCONJ
ajfa-10186	106	2	the	the	DET
ajfa-10186	106	3	raised	raise	VERB
ajfa-10186	106	4	capital	capital	NOUN
ajfa-10186	106	5	flows	flow	NOUN
ajfa-10186	106	6	into	into	ADP
ajfa-10186	106	7	positive	positive	ADJ
ajfa-10186	106	8	npv	npv	NOUN
ajfa-10186	106	9	projects	project	NOUN
ajfa-10186	106	10	and	and	CCONJ
ajfa-10186	106	11	do	do	AUX
ajfa-10186	106	12	not	not	PART
ajfa-10186	106	13	increase	increase	VERB
ajfa-10186	106	14	private	private	ADJ
ajfa-10186	106	15	benefits	benefit	NOUN
ajfa-10186	106	16	,	,	PUNCT
ajfa-10186	106	17	we	we	PRON
ajfa-10186	106	18	expect	expect	VERB
ajfa-10186	106	19	the	the	DET
ajfa-10186	106	20	increase	increase	NOUN
ajfa-10186	106	21	in	in	ADP
ajfa-10186	106	22	investment	investment	NOUN
ajfa-10186	106	23	will	will	AUX
ajfa-10186	106	24	be	be	AUX
ajfa-10186	106	25	positively	positively	ADV
ajfa-10186	106	26	related	relate	VERB
ajfa-10186	106	27	with	with	ADP
ajfa-10186	106	28	long	long	ADJ
ajfa-10186	106	29	-	-	PUNCT
ajfa-10186	106	30	term	term	NOUN
ajfa-10186	106	31	abnormal	abnormal	ADJ
ajfa-10186	106	32	return	return	NOUN
ajfa-10186	106	33	.	.	PUNCT
ajfa-10186	107	1	however	however	ADV
ajfa-10186	107	2	,	,	PUNCT
ajfa-10186	107	3	if	if	SCONJ
ajfa-10186	107	4	the	the	DET
ajfa-10186	107	5	private	private	ADJ
ajfa-10186	107	6	dr	dr	PROPN
ajfa-10186	107	7	issuance	issuance	NOUN
ajfa-10186	107	8	increases	increase	VERB
ajfa-10186	107	9	managers	manager	NOUN
ajfa-10186	107	10	’	’	PART
ajfa-10186	107	11	private	private	ADJ
ajfa-10186	107	12	benefits	benefit	NOUN
ajfa-10186	107	13	,	,	PUNCT
ajfa-10186	107	14	we	we	PRON
ajfa-10186	107	15	can	can	AUX
ajfa-10186	107	16	expect	expect	VERB
ajfa-10186	107	17	negative	negative	ADJ
ajfa-10186	107	18	relationship	relationship	NOUN
ajfa-10186	107	19	between	between	ADP
ajfa-10186	107	20	post	post	ADJ
ajfa-10186	107	21	-	-	ADJ
ajfa-10186	107	22	issuance	issuance	ADJ
ajfa-10186	107	23	capital	capital	NOUN
ajfa-10186	107	24	raising	raise	VERB
ajfa-10186	107	25	activities	activity	NOUN
ajfa-10186	107	26	or	or	CCONJ
ajfa-10186	107	27	capital	capital	NOUN
ajfa-10186	107	28	expenditure	expenditure	NOUN
ajfa-10186	107	29	and	and	CCONJ
ajfa-10186	107	30	long	long	ADJ
ajfa-10186	107	31	-	-	PUNCT
ajfa-10186	107	32	term	term	NOUN
ajfa-10186	107	33	performance	performance	NOUN
ajfa-10186	107	34	.	.	PUNCT
ajfa-10186	108	1	we	we	PRON
ajfa-10186	108	2	can	can	AUX
ajfa-10186	108	3	also	also	ADV
ajfa-10186	108	4	directly	directly	ADV
ajfa-10186	108	5	measure	measure	VERB
ajfa-10186	108	6	the	the	DET
ajfa-10186	108	7	change	change	NOUN
ajfa-10186	108	8	in	in	ADP
ajfa-10186	108	9	private	private	ADJ
ajfa-10186	108	10	benefits	benefit	NOUN
ajfa-10186	108	11	as	as	ADP
ajfa-10186	108	12	in	in	ADP
ajfa-10186	108	13	benos	benos	PROPN
ajfa-10186	108	14	and	and	CCONJ
ajfa-10186	108	15	weisbach	weisbach	NOUN
ajfa-10186	108	16	(	(	PUNCT
ajfa-10186	108	17	2004	2004	NUM
ajfa-10186	108	18	)	)	PUNCT
ajfa-10186	108	19	.	.	PUNCT
ajfa-10186	109	1	private	private	ADJ
ajfa-10186	109	2	equity	equity	NOUN
ajfa-10186	109	3	financing	financing	NOUN
ajfa-10186	109	4	is	be	AUX
ajfa-10186	109	5	preferred	prefer	VERB
ajfa-10186	109	6	over	over	ADP
ajfa-10186	109	7	public	public	ADJ
ajfa-10186	109	8	equity	equity	NOUN
ajfa-10186	109	9	offering	offering	NOUN
ajfa-10186	109	10	in	in	ADP
ajfa-10186	109	11	the	the	DET
ajfa-10186	109	12	following	follow	VERB
ajfa-10186	109	13	reasons	reason	NOUN
ajfa-10186	109	14	.	.	PUNCT
ajfa-10186	110	1	first	first	ADV
ajfa-10186	110	2	,	,	PUNCT
ajfa-10186	110	3	the	the	DET
ajfa-10186	110	4	flotation	flotation	NOUN
ajfa-10186	110	5	costs	cost	NOUN
ajfa-10186	110	6	are	be	AUX
ajfa-10186	110	7	much	much	ADV
ajfa-10186	110	8	lower	low	ADJ
ajfa-10186	110	9	in	in	ADP
ajfa-10186	110	10	the	the	DET
ajfa-10186	110	11	private	private	ADJ
ajfa-10186	110	12	equity	equity	NOUN
ajfa-10186	110	13	offering	offering	NOUN
ajfa-10186	110	14	than	than	ADP
ajfa-10186	110	15	in	in	ADP
ajfa-10186	110	16	public	public	ADJ
ajfa-10186	110	17	equity	equity	NOUN
ajfa-10186	110	18	offering	offering	NOUN
ajfa-10186	110	19	.	.	PUNCT
ajfa-10186	111	1	second	second	ADJ
ajfa-10186	111	2	,	,	PUNCT
ajfa-10186	111	3	if	if	SCONJ
ajfa-10186	111	4	the	the	DET
ajfa-10186	111	5	information	information	NOUN
ajfa-10186	111	6	asymmetry	asymmetry	NOUN
ajfa-10186	111	7	between	between	ADP
ajfa-10186	111	8	manager	manager	NOUN
ajfa-10186	111	9	and	and	CCONJ
ajfa-10186	111	10	private	private	ADJ
ajfa-10186	111	11	equity	equity	NOUN
ajfa-10186	111	12	buyers	buyer	NOUN
ajfa-10186	111	13	is	be	AUX
ajfa-10186	111	14	less	less	ADJ
ajfa-10186	111	15	than	than	ADP
ajfa-10186	111	16	that	that	PRON
ajfa-10186	111	17	between	between	ADP
ajfa-10186	111	18	manager	manager	NOUN
ajfa-10186	111	19	and	and	CCONJ
ajfa-10186	111	20	other	other	ADJ
ajfa-10186	111	21	outside	outside	ADJ
ajfa-10186	111	22	investors	investor	NOUN
ajfa-10186	111	23	,	,	PUNCT
ajfa-10186	111	24	private	private	ADJ
ajfa-10186	111	25	equity	equity	NOUN
ajfa-10186	111	26	is	be	AUX
ajfa-10186	111	27	less	less	ADV
ajfa-10186	111	28	discounted	discount	VERB
ajfa-10186	111	29	.	.	PUNCT
ajfa-10186	112	1	third	third	ADJ
ajfa-10186	112	2	,	,	PUNCT
ajfa-10186	112	3	the	the	DET
ajfa-10186	112	4	private	private	ADJ
ajfa-10186	112	5	equity	equity	NOUN
ajfa-10186	112	6	financiers	financier	NOUN
ajfa-10186	112	7	exert	exert	VERB
ajfa-10186	112	8	monitoring	monitoring	NOUN
ajfa-10186	112	9	on	on	ADP
ajfa-10186	112	10	the	the	DET
ajfa-10186	112	11	operational	operational	ADJ
ajfa-10186	112	12	and	and	CCONJ
ajfa-10186	112	13	organizational	organizational	ADJ
ajfa-10186	112	14	decisions	decision	NOUN
ajfa-10186	112	15	and	and	CCONJ
ajfa-10186	112	16	thus	thus	ADV
ajfa-10186	112	17	increases	increase	VERB
ajfa-10186	112	18	the	the	DET
ajfa-10186	112	19	monitoring	monitoring	NOUN
ajfa-10186	112	20	efficiency	efficiency	NOUN
ajfa-10186	112	21	.	.	PUNCT
ajfa-10186	113	1	fourth	fourth	ADJ
ajfa-10186	113	2	,	,	PUNCT
ajfa-10186	113	3	as	as	ADP
ajfa-10186	113	4	verrecchia	verrecchia	NOUN
ajfa-10186	113	5	(	(	PUNCT
ajfa-10186	113	6	1990	1990	NUM
ajfa-10186	113	7	)	)	PUNCT
ajfa-10186	113	8	argues	argue	VERB
ajfa-10186	113	9	,	,	PUNCT
ajfa-10186	113	10	when	when	SCONJ
ajfa-10186	113	11	a	a	DET
ajfa-10186	113	12	manager	manager	NOUN
ajfa-10186	113	13	has	have	VERB
ajfa-10186	113	14	discretion	discretion	NOUN
ajfa-10186	113	15	in	in	ADP
ajfa-10186	113	16	disclosing	disclose	VERB
ajfa-10186	113	17	information	information	NOUN
ajfa-10186	113	18	or	or	CCONJ
ajfa-10186	113	19	withholding	withholding	NOUN
ajfa-10186	113	20	information	information	NOUN
ajfa-10186	113	21	in	in	ADP
ajfa-10186	113	22	the	the	DET
ajfa-10186	113	23	presence	presence	NOUN
ajfa-10186	113	24	of	of	ADP
ajfa-10186	113	25	traders	trader	NOUN
ajfa-10186	113	26	who	who	PRON
ajfa-10186	113	27	have	have	VERB
ajfa-10186	113	28	rational	rational	ADJ
ajfa-10186	113	29	expectations	expectation	NOUN
ajfa-10186	113	30	about	about	ADP
ajfa-10186	113	31	his	his	PRON
ajfa-10186	113	32	motivation	motivation	NOUN
ajfa-10186	113	33	,	,	PUNCT
ajfa-10186	113	34	the	the	DET
ajfa-10186	113	35	threshold	threshold	NOUN
ajfa-10186	113	36	level	level	NOUN
ajfa-10186	113	37	of	of	ADP
ajfa-10186	113	38	disclosure	disclosure	NOUN
ajfa-10186	113	39	is	be	AUX
ajfa-10186	113	40	determined	determine	VERB
ajfa-10186	113	41	by	by	ADP
ajfa-10186	113	42	exogenous	exogenous	ADJ
ajfa-10186	113	43	proprietary	proprietary	ADJ
ajfa-10186	113	44	costs	cost	NOUN
ajfa-10186	113	45	.	.	PUNCT
ajfa-10186	114	1	for	for	ADP
ajfa-10186	114	2	a	a	DET
ajfa-10186	114	3	firm	firm	NOUN
ajfa-10186	114	4	operating	operate	VERB
ajfa-10186	114	5	in	in	ADP
ajfa-10186	114	6	highly	highly	ADV
ajfa-10186	114	7	competitive	competitive	ADJ
ajfa-10186	114	8	industry	industry	NOUN
ajfa-10186	114	9	and	and	CCONJ
ajfa-10186	114	10	having	have	VERB
ajfa-10186	114	11	high	high	ADJ
ajfa-10186	114	12	growth	growth	NOUN
ajfa-10186	114	13	opportunities	opportunity	NOUN
ajfa-10186	114	14	may	may	AUX
ajfa-10186	114	15	prefer	prefer	VERB
ajfa-10186	114	16	private	private	ADJ
ajfa-10186	114	17	equity	equity	NOUN
ajfa-10186	114	18	financing	financing	NOUN
ajfa-10186	114	19	to	to	PART
ajfa-10186	114	20	conceal	conceal	VERB
ajfa-10186	114	21	its	its	PRON
ajfa-10186	114	22	private	private	ADJ
ajfa-10186	114	23	information	information	NOUN
ajfa-10186	114	24	(	(	PUNCT
ajfa-10186	114	25	darrough	darrough	PROPN
ajfa-10186	114	26	,	,	PUNCT
ajfa-10186	114	27	1993	1993	NUM
ajfa-10186	114	28	)	)	PUNCT
ajfa-10186	114	29	.	.	PUNCT
ajfa-10186	115	1	however	however	ADV
ajfa-10186	115	2	,	,	PUNCT
ajfa-10186	115	3	the	the	DET
ajfa-10186	115	4	private	private	ADJ
ajfa-10186	115	5	equity	equity	NOUN
ajfa-10186	115	6	financing	financing	NOUN
ajfa-10186	115	7	is	be	AUX
ajfa-10186	115	8	not	not	PART
ajfa-10186	115	9	always	always	ADV
ajfa-10186	115	10	preferred	preferred	ADJ
ajfa-10186	115	11	because	because	SCONJ
ajfa-10186	115	12	of	of	ADP
ajfa-10186	115	13	the	the	DET
ajfa-10186	115	14	hold	hold	VERB
ajfa-10186	115	15	-	-	PUNCT
ajfa-10186	115	16	up	up	ADP
ajfa-10186	115	17	problem	problem	NOUN
ajfa-10186	115	18	of	of	ADP
ajfa-10186	115	19	private	private	ADJ
ajfa-10186	115	20	equity	equity	NOUN
ajfa-10186	115	21	financing	financing	NOUN
ajfa-10186	115	22	.	.	PUNCT
ajfa-10186	116	1	because	because	SCONJ
ajfa-10186	116	2	information	information	NOUN
ajfa-10186	116	3	asymmetry	asymmetry	NOUN
ajfa-10186	116	4	is	be	AUX
ajfa-10186	116	5	much	much	ADV
ajfa-10186	116	6	higher	high	ADJ
ajfa-10186	116	7	for	for	ADP
ajfa-10186	116	8	the	the	DET
ajfa-10186	116	9	outside	outside	ADJ
ajfa-10186	116	10	investors	investor	NOUN
ajfa-10186	116	11	,	,	PUNCT
ajfa-10186	116	12	the	the	DET
ajfa-10186	116	13	hold	hold	VERB
ajfa-10186	116	14	-	-	PUNCT
ajfa-10186	116	15	up	up	ADP
ajfa-10186	116	16	problem	problem	NOUN
ajfa-10186	116	17	gives	give	VERB
ajfa-10186	116	18	the	the	DET
ajfa-10186	116	19	inside	inside	ADJ
ajfa-10186	116	20	financiers	financier	NOUN
ajfa-10186	116	21	bargaining	bargaining	NOUN
ajfa-10186	116	22	power	power	NOUN
ajfa-10186	116	23	over	over	ADP
ajfa-10186	116	24	the	the	DET
ajfa-10186	116	25	firm	firm	NOUN
ajfa-10186	116	26	’s	’s	PART
ajfa-10186	116	27	profits	profit	NOUN
ajfa-10186	116	28	.	.	PUNCT
ajfa-10186	117	1	this	this	DET
ajfa-10186	117	2	valuation	valuation	NOUN
ajfa-10186	117	3	loss	loss	NOUN
ajfa-10186	117	4	associated	associate	VERB
ajfa-10186	117	5	with	with	ADP
ajfa-10186	117	6	hold	hold	VERB
ajfa-10186	117	7	-	-	PUNCT
ajfa-10186	117	8	up	up	ADP
ajfa-10186	117	9	problem	problem	NOUN
ajfa-10186	117	10	represents	represent	VERB
ajfa-10186	117	11	sever	sever	VERB
ajfa-10186	117	12	discounts	discount	NOUN
ajfa-10186	117	13	in	in	ADP
ajfa-10186	117	14	the	the	DET
ajfa-10186	117	15	private	private	ADJ
ajfa-10186	117	16	equity	equity	NOUN
ajfa-10186	117	17	financing	financing	NOUN
ajfa-10186	117	18	.	.	PUNCT
ajfa-10186	118	1	in	in	ADP
ajfa-10186	118	2	conclusion	conclusion	NOUN
ajfa-10186	118	3	,	,	PUNCT
ajfa-10186	118	4	the	the	DET
ajfa-10186	118	5	private	private	ADJ
ajfa-10186	118	6	versus	versus	ADP
ajfa-10186	118	7	public	public	ADJ
ajfa-10186	118	8	equity	equity	NOUN
ajfa-10186	118	9	offering	offering	NOUN
ajfa-10186	118	10	decision	decision	NOUN
ajfa-10186	118	11	would	would	AUX
ajfa-10186	118	12	be	be	AUX
ajfa-10186	118	13	determined	determine	VERB
ajfa-10186	118	14	by	by	ADP
ajfa-10186	118	15	the	the	DET
ajfa-10186	118	16	trades	trade	NOUN
ajfa-10186	118	17	off	off	ADP
ajfa-10186	118	18	between	between	ADP
ajfa-10186	118	19	benefits	benefit	NOUN
ajfa-10186	118	20	and	and	CCONJ
ajfa-10186	118	21	costs	cost	NOUN
ajfa-10186	118	22	associated	associate	VERB
ajfa-10186	118	23	with	with	ADP
ajfa-10186	118	24	private	private	ADJ
ajfa-10186	118	25	equity	equity	NOUN
ajfa-10186	118	26	offering	offering	NOUN
ajfa-10186	118	27	.	.	PUNCT
ajfa-10186	119	1	6	6	X
ajfa-10186	119	2	.	.	X
ajfa-10186	119	3	conclusion	conclusion	NOUN
ajfa-10186	119	4	and	and	CCONJ
ajfa-10186	119	5	implication	implication	NOUN
ajfa-10186	119	6	the	the	DET
ajfa-10186	119	7	results	result	NOUN
ajfa-10186	119	8	are	be	AUX
ajfa-10186	119	9	crucially	crucially	ADV
ajfa-10186	119	10	dependent	dependent	ADJ
ajfa-10186	119	11	on	on	ADP
ajfa-10186	119	12	the	the	DET
ajfa-10186	119	13	form	form	NOUN
ajfa-10186	119	14	of	of	ADP
ajfa-10186	119	15	each	each	DET
ajfa-10186	119	16	cost	cost	NOUN
ajfa-10186	119	17	/	/	SYM
ajfa-10186	119	18	benefit	benefit	NOUN
ajfa-10186	119	19	functions	function	NOUN
ajfa-10186	119	20	because	because	SCONJ
ajfa-10186	119	21	we	we	PRON
ajfa-10186	119	22	assume	assume	VERB
ajfa-10186	119	23	that	that	SCONJ
ajfa-10186	119	24	proprietary	proprietary	ADJ
ajfa-10186	119	25	costs	cost	NOUN
ajfa-10186	119	26	(	(	PUNCT
ajfa-10186	119	27	c	c	NOUN
ajfa-10186	119	28	)	)	PUNCT
ajfa-10186	119	29	,	,	PUNCT
ajfa-10186	119	30	monitoring	monitor	VERB
ajfa-10186	119	31	benefits	benefit	NOUN
ajfa-10186	119	32	of	of	ADP
ajfa-10186	119	33	private	private	ADJ
ajfa-10186	119	34	financing	financing	NOUN
ajfa-10186	119	35	(	(	PUNCT
ajfa-10186	119	36	m	m	NOUN
ajfa-10186	119	37	)	)	PUNCT
ajfa-10186	119	38	and	and	CCONJ
ajfa-10186	119	39	the	the	DET
ajfa-10186	119	40	valuation	valuation	NOUN
ajfa-10186	119	41	loss	loss	NOUN
ajfa-10186	119	42	from	from	ADP
ajfa-10186	119	43	rent	rent	NOUN
ajfa-10186	119	44	seeking	seek	VERB
ajfa-10186	119	45	activities	activity	NOUN
ajfa-10186	119	46	(	(	PUNCT
ajfa-10186	119	47	r	r	NOUN
ajfa-10186	119	48	)	)	PUNCT
ajfa-10186	119	49	are	be	AUX
ajfa-10186	119	50	all	all	PRON
ajfa-10186	119	51	functions	function	NOUN
ajfa-10186	119	52	of	of	ADP
ajfa-10186	119	53	the	the	DET
ajfa-10186	119	54	project	project	NOUN
ajfa-10186	119	55	quality	quality	NOUN
ajfa-10186	119	56	,	,	PUNCT
ajfa-10186	119	57	g.	g.	PROPN
ajfa-10186	120	1	we	we	PRON
ajfa-10186	120	2	assume	assume	VERB
ajfa-10186	120	3	that	that	SCONJ
ajfa-10186	120	4	the	the	DET
ajfa-10186	120	5	revenue	revenue	NOUN
ajfa-10186	120	6	from	from	ADP
ajfa-10186	120	7	the	the	DET
ajfa-10186	120	8	project	project	NOUN
ajfa-10186	120	9	(	(	PUNCT
ajfa-10186	120	10	v	v	NOUN
ajfa-10186	120	11	)	)	PUNCT
ajfa-10186	120	12	is	be	AUX
ajfa-10186	120	13	normally	normally	ADV
ajfa-10186	120	14	distributed	distribute	VERB
ajfa-10186	120	15	,	,	PUNCT
ajfa-10186	120	16	but	but	CCONJ
ajfa-10186	120	17	it	it	PRON
ajfa-10186	120	18	will	will	AUX
ajfa-10186	120	19	be	be	AUX
ajfa-10186	120	20	much	much	ADV
ajfa-10186	120	21	easier	easy	ADJ
ajfa-10186	120	22	when	when	SCONJ
ajfa-10186	120	23	discrete	discrete	ADJ
ajfa-10186	120	24	distribution	distribution	NOUN
ajfa-10186	120	25	is	be	AUX
ajfa-10186	120	26	assumed	assume	VERB
ajfa-10186	120	27	.	.	PUNCT
ajfa-10186	121	1	although	although	SCONJ
ajfa-10186	121	2	we	we	PRON
ajfa-10186	121	3	can	can	AUX
ajfa-10186	121	4	solve	solve	VERB
ajfa-10186	121	5	the	the	DET
ajfa-10186	121	6	problem	problem	NOUN
ajfa-10186	121	7	by	by	ADP
ajfa-10186	121	8	assuming	assume	VERB
ajfa-10186	121	9	the	the	DET
ajfa-10186	121	10	first	first	ADJ
ajfa-10186	121	11	differentiation	differentiation	NOUN
ajfa-10186	121	12	of	of	ADP
ajfa-10186	121	13	c(g	c(g	PROPN
ajfa-10186	121	14	)	)	PUNCT
ajfa-10186	121	15	and	and	CCONJ
ajfa-10186	121	16	f(g	f(g	NOUN
ajfa-10186	121	17	)	)	PUNCT
ajfa-10186	121	18	is	be	AUX
ajfa-10186	121	19	c’(g	c’(g	NOUN
ajfa-10186	121	20	)	)	PUNCT
ajfa-10186	121	21	>	>	X
ajfa-10186	122	1	r’(g	r’(g	PROPN
ajfa-10186	122	2	)	)	PUNCT
ajfa-10186	122	3	,	,	PUNCT
ajfa-10186	122	4	still	still	ADV
ajfa-10186	122	5	it	it	PRON
ajfa-10186	122	6	may	may	AUX
ajfa-10186	122	7	be	be	AUX
ajfa-10186	122	8	hard	hard	ADJ
ajfa-10186	122	9	to	to	PART
ajfa-10186	122	10	define	define	VERB
ajfa-10186	122	11	each	each	DET
ajfa-10186	122	12	function	function	NOUN
ajfa-10186	122	13	asian	asian	ADJ
ajfa-10186	122	14	journal	journal	NOUN
ajfa-10186	122	15	of	of	ADP
ajfa-10186	122	16	finance	finance	PROPN
ajfa-10186	122	17	&	&	CCONJ
ajfa-10186	122	18	accounting	accounting	PROPN
ajfa-10186	122	19	issn	issn	PROPN
ajfa-10186	122	20	1946	1946	NUM
ajfa-10186	122	21	-	-	PUNCT
ajfa-10186	122	22	052x	052x	PROPN
ajfa-10186	122	23	2016	2016	NUM
ajfa-10186	122	24	,	,	PUNCT
ajfa-10186	122	25	vol	vol	NOUN
ajfa-10186	122	26	.	.	PROPN
ajfa-10186	122	27	8	8	NUM
ajfa-10186	122	28	,	,	PUNCT
ajfa-10186	122	29	no	no	INTJ
ajfa-10186	122	30	.	.	NOUN
ajfa-10186	122	31	2	2	NUM
ajfa-10186	122	32	ajfa.macrothink.org	ajfa.macrothink.org	NOUN
ajfa-10186	122	33	133	133	NUM
ajfa-10186	122	34	with	with	ADP
ajfa-10186	122	35	proper	proper	ADJ
ajfa-10186	122	36	rationale	rationale	NOUN
ajfa-10186	122	37	.	.	PUNCT
ajfa-10186	123	1	in	in	ADP
ajfa-10186	123	2	addition	addition	NOUN
ajfa-10186	123	3	,	,	PUNCT
ajfa-10186	123	4	we	we	PRON
ajfa-10186	123	5	need	need	VERB
ajfa-10186	123	6	to	to	PART
ajfa-10186	123	7	specify	specify	VERB
ajfa-10186	123	8	the	the	DET
ajfa-10186	123	9	distribution	distribution	NOUN
ajfa-10186	123	10	of	of	ADP
ajfa-10186	123	11	information	information	NOUN
ajfa-10186	123	12	advantage	advantage	NOUN
ajfa-10186	123	13	which	which	PRON
ajfa-10186	123	14	determines	determine	VERB
ajfa-10186	123	15	the	the	DET
ajfa-10186	123	16	upper	upper	ADV
ajfa-10186	123	17	-	-	PUNCT
ajfa-10186	123	18	bound	bind	VERB
ajfa-10186	123	19	of	of	ADP
ajfa-10186	123	20	rents	rent	NOUN
ajfa-10186	123	21	.	.	PUNCT
ajfa-10186	124	1	the	the	DET
ajfa-10186	124	2	informational	informational	ADJ
ajfa-10186	124	3	advantage	advantage	NOUN
ajfa-10186	124	4	of	of	ADP
ajfa-10186	124	5	the	the	DET
ajfa-10186	124	6	inside	inside	ADJ
ajfa-10186	124	7	financiers	financier	NOUN
ajfa-10186	124	8	occurred	occur	VERB
ajfa-10186	124	9	because	because	SCONJ
ajfa-10186	124	10	they	they	PRON
ajfa-10186	124	11	receive	receive	VERB
ajfa-10186	124	12	less	less	ADV
ajfa-10186	124	13	noisy	noisy	ADJ
ajfa-10186	124	14	signal	signal	NOUN
ajfa-10186	124	15	about	about	ADP
ajfa-10186	124	16	the	the	DET
ajfa-10186	124	17	project	project	NOUN
ajfa-10186	124	18	value	value	NOUN
ajfa-10186	124	19	than	than	SCONJ
ajfa-10186	124	20	outside	outside	ADJ
ajfa-10186	124	21	investors	investor	NOUN
ajfa-10186	124	22	do	do	VERB
ajfa-10186	124	23	.	.	PUNCT
ajfa-10186	125	1	this	this	DET
ajfa-10186	125	2	paper	paper	NOUN
ajfa-10186	125	3	is	be	AUX
ajfa-10186	125	4	meaningful	meaningful	ADJ
ajfa-10186	125	5	and	and	CCONJ
ajfa-10186	125	6	interesting	interesting	ADJ
ajfa-10186	125	7	in	in	ADP
ajfa-10186	125	8	that	that	PRON
ajfa-10186	125	9	(	(	PUNCT
ajfa-10186	125	10	1	1	X
ajfa-10186	125	11	)	)	PUNCT
ajfa-10186	125	12	recently	recently	ADV
ajfa-10186	125	13	,	,	PUNCT
ajfa-10186	125	14	the	the	DET
ajfa-10186	125	15	private	private	ADJ
ajfa-10186	125	16	equity	equity	NOUN
ajfa-10186	125	17	financing	financing	NOUN
ajfa-10186	125	18	under	under	ADP
ajfa-10186	125	19	sec	sec	PROPN
ajfa-10186	125	20	rule	rule	NOUN
ajfa-10186	125	21	144a	144a	PROPN
ajfa-10186	125	22	is	be	AUX
ajfa-10186	125	23	exploding	explode	VERB
ajfa-10186	125	24	and	and	CCONJ
ajfa-10186	125	25	not	not	PART
ajfa-10186	125	26	much	much	ADV
ajfa-10186	125	27	is	be	AUX
ajfa-10186	125	28	known	know	VERB
ajfa-10186	125	29	about	about	ADP
ajfa-10186	125	30	the	the	DET
ajfa-10186	125	31	motivation	motivation	NOUN
ajfa-10186	125	32	for	for	ADP
ajfa-10186	125	33	private	private	ADJ
ajfa-10186	125	34	equity	equity	NOUN
ajfa-10186	125	35	financing	financing	NOUN
ajfa-10186	125	36	by	by	ADP
ajfa-10186	125	37	a	a	DET
ajfa-10186	125	38	publicly	publicly	ADV
ajfa-10186	125	39	traded	trade	VERB
ajfa-10186	125	40	firm	firm	NOUN
ajfa-10186	125	41	;	;	PUNCT
ajfa-10186	125	42	(	(	PUNCT
ajfa-10186	125	43	2	2	X
ajfa-10186	125	44	)	)	PUNCT
ajfa-10186	125	45	our	our	PRON
ajfa-10186	125	46	approach	approach	NOUN
ajfa-10186	125	47	is	be	AUX
ajfa-10186	125	48	new	new	ADJ
ajfa-10186	125	49	to	to	ADP
ajfa-10186	125	50	literature	literature	NOUN
ajfa-10186	125	51	by	by	ADP
ajfa-10186	125	52	incorporating	incorporate	VERB
ajfa-10186	125	53	both	both	DET
ajfa-10186	125	54	benefit	benefit	NOUN
ajfa-10186	125	55	(	(	PUNCT
ajfa-10186	125	56	conceal	conceal	VERB
ajfa-10186	125	57	private	private	ADJ
ajfa-10186	125	58	information	information	NOUN
ajfa-10186	125	59	)	)	PUNCT
ajfa-10186	125	60	and	and	CCONJ
ajfa-10186	125	61	cost	cost	NOUN
ajfa-10186	125	62	(	(	PUNCT
ajfa-10186	125	63	informational	informational	ADJ
ajfa-10186	125	64	monopoly	monopoly	NOUN
ajfa-10186	125	65	)	)	PUNCT
ajfa-10186	125	66	associated	associate	VERB
ajfa-10186	125	67	with	with	ADP
ajfa-10186	125	68	private	private	ADJ
ajfa-10186	125	69	equity	equity	NOUN
ajfa-10186	125	70	financing	financing	NOUN
ajfa-10186	125	71	.	.	PUNCT
ajfa-10186	126	1	references	reference	NOUN
ajfa-10186	126	2	besley	besley	NOUN
ajfa-10186	126	3	,	,	PUNCT
ajfa-10186	126	4	s.	s.	PROPN
ajfa-10186	126	5	,	,	PUNCT
ajfa-10186	126	6	&	&	CCONJ
ajfa-10186	126	7	n.	n.	PROPN
ajfa-10186	126	8	kohers	koher	NOUN
ajfa-10186	126	9	(	(	PUNCT
ajfa-10186	126	10	2007	2007	NUM
ajfa-10186	126	11	)	)	PUNCT
ajfa-10186	126	12	.	.	PUNCT
ajfa-10186	127	1	reactions	reaction	NOUN
ajfa-10186	127	2	of	of	ADP
ajfa-10186	127	3	issuers	issuer	NOUN
ajfa-10186	127	4	and	and	CCONJ
ajfa-10186	127	5	rivals	rival	NOUN
ajfa-10186	127	6	to	to	ADP
ajfa-10186	127	7	private	private	ADJ
ajfa-10186	127	8	placements	placement	NOUN
ajfa-10186	127	9	of	of	ADP
ajfa-10186	127	10	common	common	ADJ
ajfa-10186	127	11	equity	equity	NOUN
ajfa-10186	127	12	.	.	PUNCT
ajfa-10186	128	1	applied	apply	VERB
ajfa-10186	128	2	financial	financial	ADJ
ajfa-10186	128	3	economics	economic	NOUN
ajfa-10186	128	4	,	,	PUNCT
ajfa-10186	128	5	17	17	NUM
ajfa-10186	128	6	,	,	PUNCT
ajfa-10186	128	7	559	559	NUM
ajfa-10186	128	8	-	-	SYM
ajfa-10186	128	9	568	568	NUM
ajfa-10186	128	10	.	.	PUNCT
ajfa-10186	129	1	http://dx.doi.org/10.1080/09603100600706741	http://dx.doi.org/10.1080/09603100600706741	PROPN
ajfa-10186	129	2	.	.	PUNCT
ajfa-10186	130	1	benos	benos	PROPN
ajfa-10186	130	2	,	,	PUNCT
ajfa-10186	130	3	e.	e.	PROPN
ajfa-10186	130	4	,	,	PUNCT
ajfa-10186	130	5	&	&	CCONJ
ajfa-10186	130	6	m.	m.	PROPN
ajfa-10186	130	7	weisbach	weisbach	PROPN
ajfa-10186	130	8	(	(	PUNCT
ajfa-10186	130	9	2004	2004	NUM
ajfa-10186	130	10	)	)	PUNCT
ajfa-10186	130	11	.	.	PUNCT
ajfa-10186	131	1	private	private	ADJ
ajfa-10186	131	2	benefits	benefit	NOUN
ajfa-10186	131	3	and	and	CCONJ
ajfa-10186	131	4	cross	cross	NOUN
ajfa-10186	131	5	-	-	NOUN
ajfa-10186	131	6	listings	listing	NOUN
ajfa-10186	131	7	in	in	ADP
ajfa-10186	131	8	the	the	DET
ajfa-10186	131	9	united	united	PROPN
ajfa-10186	131	10	states	states	PROPN
ajfa-10186	131	11	.	.	PUNCT
ajfa-10186	132	1	emerging	emerge	VERB
ajfa-10186	132	2	market	market	NOUN
ajfa-10186	132	3	review	review	NOUN
ajfa-10186	132	4	,	,	PUNCT
ajfa-10186	132	5	5	5	NUM
ajfa-10186	132	6	,	,	PUNCT
ajfa-10186	132	7	217	217	NUM
ajfa-10186	132	8	-	-	SYM
ajfa-10186	132	9	240	240	NUM
ajfa-10186	132	10	.	.	PUNCT
ajfa-10186	133	1	http://dx.doi.org/10.1016/j.ememar.2004.01.002	http://dx.doi.org/10.1016/j.ememar.2004.01.002	PROPN
ajfa-10186	133	2	.	.	PUNCT
ajfa-10186	134	1	doidge	doidge	PROPN
ajfa-10186	134	2	,	,	PUNCT
ajfa-10186	134	3	c.	c.	NOUN
ajfa-10186	134	4	,	,	PUNCT
ajfa-10186	134	5	a.	a.	NOUN
ajfa-10186	134	6	karolyi	karolyi	PROPN
ajfa-10186	134	7	,	,	PUNCT
ajfa-10186	134	8	&	&	CCONJ
ajfa-10186	134	9	r.	r.	PROPN
ajfa-10186	134	10	stulz	stulz	PROPN
ajfa-10186	134	11	(	(	PUNCT
ajfa-10186	134	12	2004	2004	NUM
ajfa-10186	134	13	)	)	PUNCT
ajfa-10186	134	14	.	.	PUNCT
ajfa-10186	135	1	why	why	SCONJ
ajfa-10186	135	2	are	be	AUX
ajfa-10186	135	3	foreign	foreign	ADJ
ajfa-10186	135	4	firms	firm	NOUN
ajfa-10186	135	5	listed	list	VERB
ajfa-10186	135	6	in	in	ADP
ajfa-10186	135	7	the	the	DET
ajfa-10186	135	8	u.s	u.s	PROPN
ajfa-10186	135	9	.	.	PROPN
ajfa-10186	135	10	worth	worth	ADJ
ajfa-10186	135	11	more	more	ADV
ajfa-10186	135	12	?	?	PUNCT
ajfa-10186	135	13	.	.	PUNCT
ajfa-10186	136	1	journal	journal	PROPN
ajfa-10186	136	2	of	of	ADP
ajfa-10186	136	3	financial	financial	ADJ
ajfa-10186	136	4	economics	economic	NOUN
ajfa-10186	136	5	,	,	PUNCT
ajfa-10186	136	6	70	70	NUM
ajfa-10186	136	7	,	,	PUNCT
ajfa-10186	136	8	205	205	NUM
ajfa-10186	136	9	-	-	SYM
ajfa-10186	136	10	238	238	NUM
ajfa-10186	136	11	.	.	PUNCT
ajfa-10186	137	1	http://dx.doi.org/10.1016/s0304-405x(03)00183-1	http://dx.doi.org/10.1016/s0304-405x(03)00183-1	PROPN
ajfa-10186	137	2	.	.	PUNCT
ajfa-10186	138	1	dye	dye	PROPN
ajfa-10186	138	2	,	,	PUNCT
ajfa-10186	138	3	r.	r.	PROPN
ajfa-10186	138	4	(	(	PUNCT
ajfa-10186	138	5	1985	1985	NUM
ajfa-10186	138	6	)	)	PUNCT
ajfa-10186	138	7	.	.	PUNCT
ajfa-10186	139	1	disclosure	disclosure	NOUN
ajfa-10186	139	2	of	of	ADP
ajfa-10186	139	3	nonproprietary	nonproprietary	ADJ
ajfa-10186	139	4	information	information	NOUN
ajfa-10186	139	5	.	.	PUNCT
ajfa-10186	140	1	journal	journal	NOUN
ajfa-10186	140	2	of	of	ADP
ajfa-10186	140	3	accounting	accounting	NOUN
ajfa-10186	140	4	research	research	NOUN
ajfa-10186	140	5	,	,	PUNCT
ajfa-10186	140	6	23	23	NUM
ajfa-10186	140	7	,	,	PUNCT
ajfa-10186	140	8	123	123	NUM
ajfa-10186	140	9	-	-	SYM
ajfa-10186	140	10	145	145	NUM
ajfa-10186	140	11	.	.	PUNCT
ajfa-10186	141	1	http://dx.doi.org/	http://dx.doi.org/	PRON
ajfa-10186	141	2	10.2307/2490910	10.2307/2490910	X
ajfa-10186	141	3	.	.	PUNCT
ajfa-10186	142	1	dye	dye	PROPN
ajfa-10186	142	2	,	,	PUNCT
ajfa-10186	142	3	r.	r.	PROPN
ajfa-10186	142	4	,	,	PUNCT
ajfa-10186	142	5	(	(	PUNCT
ajfa-10186	142	6	1998	1998	NUM
ajfa-10186	142	7	)	)	PUNCT
ajfa-10186	142	8	.	.	PUNCT
ajfa-10186	143	1	discussion	discussion	NOUN
ajfa-10186	143	2	of	of	ADP
ajfa-10186	143	3	on	on	ADP
ajfa-10186	143	4	the	the	DET
ajfa-10186	143	5	frequency	frequency	NOUN
ajfa-10186	143	6	,	,	PUNCT
ajfa-10186	143	7	quality	quality	NOUN
ajfa-10186	143	8	and	and	CCONJ
ajfa-10186	143	9	informational	informational	ADJ
ajfa-10186	143	10	role	role	NOUN
ajfa-10186	143	11	of	of	ADP
ajfa-10186	143	12	mandatory	mandatory	ADJ
ajfa-10186	143	13	financial	financial	ADJ
ajfa-10186	143	14	reports	report	NOUN
ajfa-10186	143	15	.	.	PUNCT
ajfa-10186	144	1	journal	journal	NOUN
ajfa-10186	144	2	of	of	ADP
ajfa-10186	144	3	accounting	accounting	NOUN
ajfa-10186	144	4	research	research	NOUN
ajfa-10186	144	5	,	,	PUNCT
ajfa-10186	144	6	36	36	NUM
ajfa-10186	144	7	,	,	PUNCT
ajfa-10186	144	8	149	149	NUM
ajfa-10186	144	9	-	-	SYM
ajfa-10186	144	10	160	160	NUM
ajfa-10186	144	11	.	.	PUNCT
ajfa-10186	145	1	http://dx.doi.org/	http://dx.doi.org/	PROPN
ajfa-10186	145	2	10.2307/2491311	10.2307/2491311	NUM
ajfa-10186	145	3	.	.	PUNCT
ajfa-10186	146	1	foerster	foerster	PROPN
ajfa-10186	146	2	,	,	PUNCT
ajfa-10186	146	3	s.	s.	PROPN
ajfa-10186	146	4	,	,	PUNCT
ajfa-10186	146	5	&	&	CCONJ
ajfa-10186	146	6	a.	a.	PROPN
ajfa-10186	146	7	karolyi	karolyi	PROPN
ajfa-10186	146	8	(	(	PUNCT
ajfa-10186	146	9	2000	2000	NUM
ajfa-10186	146	10	)	)	PUNCT
ajfa-10186	146	11	.	.	PUNCT
ajfa-10186	147	1	the	the	DET
ajfa-10186	147	2	long	long	ADV
ajfa-10186	147	3	-	-	PUNCT
ajfa-10186	147	4	run	run	NOUN
ajfa-10186	147	5	performance	performance	NOUN
ajfa-10186	147	6	of	of	ADP
ajfa-10186	147	7	global	global	ADJ
ajfa-10186	147	8	equity	equity	NOUN
ajfa-10186	147	9	offerings	offering	NOUN
ajfa-10186	147	10	.	.	PUNCT
ajfa-10186	148	1	journal	journal	NOUN
ajfa-10186	148	2	of	of	ADP
ajfa-10186	148	3	financial	financial	ADJ
ajfa-10186	148	4	and	and	CCONJ
ajfa-10186	148	5	quantitative	quantitative	ADJ
ajfa-10186	148	6	analysis	analysis	NOUN
ajfa-10186	148	7	,	,	PUNCT
ajfa-10186	148	8	35	35	NUM
ajfa-10186	148	9	,	,	PUNCT
ajfa-10186	148	10	499	499	NUM
ajfa-10186	148	11	-	-	SYM
ajfa-10186	148	12	528	528	NUM
ajfa-10186	148	13	.	.	PUNCT
ajfa-10186	149	1	http://dx.doi.org/	http://dx.doi.org/	PROPN
ajfa-10186	149	2	10.2307/2676253	10.2307/2676253	NUM
ajfa-10186	149	3	.	.	PUNCT
ajfa-10186	150	1	hertzel	hertzel	ADJ
ajfa-10186	150	2	,	,	PUNCT
ajfa-10186	150	3	m.	m.	NOUN
ajfa-10186	150	4	,	,	PUNCT
ajfa-10186	150	5	&	&	CCONJ
ajfa-10186	150	6	r.	r.	PROPN
ajfa-10186	150	7	smith	smith	PROPN
ajfa-10186	150	8	(	(	PUNCT
ajfa-10186	150	9	1993	1993	NUM
ajfa-10186	150	10	)	)	PUNCT
ajfa-10186	150	11	.	.	PUNCT
ajfa-10186	151	1	market	market	NOUN
ajfa-10186	151	2	discounts	discount	NOUN
ajfa-10186	151	3	and	and	CCONJ
ajfa-10186	151	4	shareholder	shareholder	NOUN
ajfa-10186	151	5	gains	gain	NOUN
ajfa-10186	151	6	for	for	ADP
ajfa-10186	151	7	placing	place	VERB
ajfa-10186	151	8	equity	equity	NOUN
ajfa-10186	151	9	privately	privately	ADV
ajfa-10186	151	10	.	.	PUNCT
ajfa-10186	152	1	journal	journal	PROPN
ajfa-10186	152	2	of	of	ADP
ajfa-10186	152	3	finance	finance	NOUN
ajfa-10186	152	4	,	,	PUNCT
ajfa-10186	152	5	58	58	NUM
ajfa-10186	152	6	,	,	PUNCT
ajfa-10186	152	7	459	459	NUM
ajfa-10186	152	8	-	-	SYM
ajfa-10186	152	9	485	485	NUM
ajfa-10186	152	10	.	.	PUNCT
ajfa-10186	153	1	http://dx.doi.org/	http://dx.doi.org/	PROPN
ajfa-10186	153	2	10.2307/2328908	10.2307/2328908	NUM
ajfa-10186	153	3	.	.	PUNCT
ajfa-10186	154	1	kaplan	kaplan	PROPN
ajfa-10186	154	2	,	,	PUNCT
ajfa-10186	154	3	s.	s.	PROPN
ajfa-10186	154	4	,	,	PUNCT
ajfa-10186	154	5	&	&	CCONJ
ajfa-10186	154	6	p.	p.	PROPN
ajfa-10186	154	7	strömberg	strömberg	PROPN
ajfa-10186	154	8	(	(	PUNCT
ajfa-10186	154	9	2002	2002	NUM
ajfa-10186	154	10	)	)	PUNCT
ajfa-10186	154	11	.	.	PUNCT
ajfa-10186	155	1	financial	financial	ADJ
ajfa-10186	155	2	contracting	contracting	NOUN
ajfa-10186	155	3	theory	theory	NOUN
ajfa-10186	155	4	meets	meet	VERB
ajfa-10186	155	5	the	the	DET
ajfa-10186	155	6	real	real	ADJ
ajfa-10186	155	7	world	world	NOUN
ajfa-10186	155	8	:	:	PUNCT
ajfa-10186	155	9	an	an	DET
ajfa-10186	155	10	empirical	empirical	ADJ
ajfa-10186	155	11	analysis	analysis	NOUN
ajfa-10186	155	12	of	of	ADP
ajfa-10186	155	13	venture	venture	NOUN
ajfa-10186	155	14	capital	capital	NOUN
ajfa-10186	155	15	contracts	contract	NOUN
ajfa-10186	155	16	.	.	PUNCT
ajfa-10186	156	1	review	review	NOUN
ajfa-10186	156	2	of	of	ADP
ajfa-10186	156	3	economic	economic	ADJ
ajfa-10186	156	4	studies	study	NOUN
ajfa-10186	156	5	,	,	PUNCT
ajfa-10186	156	6	70	70	NUM
ajfa-10186	156	7	,	,	PUNCT
ajfa-10186	156	8	281	281	NUM
ajfa-10186	156	9	-	-	SYM
ajfa-10186	156	10	315	315	NUM
ajfa-10186	156	11	.	.	PUNCT
ajfa-10186	157	1	http://dx.doi.org/10.1111/1467-937x.00245	http://dx.doi.org/10.1111/1467-937x.00245	PROPN
ajfa-10186	157	2	.	.	PUNCT
ajfa-10186	157	3	la	la	PROPN
ajfa-10186	157	4	porta	porta	PROPN
ajfa-10186	157	5	,	,	PUNCT
ajfa-10186	157	6	r.	r.	PROPN
ajfa-10186	157	7	,	,	PUNCT
ajfa-10186	157	8	f.	f.	PROPN
ajfa-10186	157	9	lopez	lopez	PROPN
ajfa-10186	157	10	-	-	PUNCT
ajfa-10186	157	11	de	de	NOUN
ajfa-10186	157	12	-	-	NOUN
ajfa-10186	157	13	silanes	silane	NOUN
ajfa-10186	157	14	,	,	PUNCT
ajfa-10186	157	15	a.	a.	NOUN
ajfa-10186	157	16	shleifer	shleifer	PROPN
ajfa-10186	157	17	,	,	PUNCT
ajfa-10186	157	18	&	&	CCONJ
ajfa-10186	157	19	r.	r.	PROPN
ajfa-10186	157	20	vishny	vishny	PROPN
ajfa-10186	157	21	(	(	PUNCT
ajfa-10186	157	22	1998	1998	NUM
ajfa-10186	157	23	)	)	PUNCT
ajfa-10186	157	24	.	.	PUNCT
ajfa-10186	158	1	law	law	NOUN
ajfa-10186	158	2	and	and	CCONJ
ajfa-10186	158	3	finance	finance	NOUN
ajfa-10186	158	4	,	,	PUNCT
ajfa-10186	158	5	journal	journal	NOUN
ajfa-10186	158	6	of	of	ADP
ajfa-10186	158	7	political	political	ADJ
ajfa-10186	158	8	economy	economy	NOUN
ajfa-10186	158	9	,	,	PUNCT
ajfa-10186	158	10	106	106	NUM
ajfa-10186	158	11	,	,	PUNCT
ajfa-10186	158	12	1113	1113	NUM
ajfa-10186	158	13	-	-	SYM
ajfa-10186	158	14	1155	1155	NUM
ajfa-10186	158	15	.	.	PUNCT
ajfa-10186	159	1	http://dx.doi.org/10.1257/jel.47.4.1076	http://dx.doi.org/10.1257/jel.47.4.1076	NOUN
ajfa-10186	159	2	.	.	PUNCT
ajfa-10186	159	3	lins	lins	PROPN
ajfa-10186	159	4	,	,	PUNCT
ajfa-10186	159	5	k.	k.	PROPN
ajfa-10186	159	6	,	,	PUNCT
ajfa-10186	159	7	d.	d.	PROPN
ajfa-10186	159	8	strickland	strickland	PROPN
ajfa-10186	159	9	,	,	PUNCT
ajfa-10186	159	10	&	&	CCONJ
ajfa-10186	159	11	m.	m.	PROPN
ajfa-10186	159	12	zenner	zenner	NOUN
ajfa-10186	159	13	(	(	PUNCT
ajfa-10186	159	14	2005	2005	NUM
ajfa-10186	159	15	)	)	PUNCT
ajfa-10186	159	16	.	.	PUNCT
ajfa-10186	160	1	do	do	AUX
ajfa-10186	160	2	non	non	ADJ
ajfa-10186	160	3	-	-	ADJ
ajfa-10186	160	4	u.s	u.s	PROPN
ajfa-10186	160	5	.	.	PROPN
ajfa-10186	160	6	firms	firm	NOUN
ajfa-10186	160	7	issue	issue	VERB
ajfa-10186	160	8	equity	equity	NOUN
ajfa-10186	160	9	on	on	ADP
ajfa-10186	160	10	u.s	u.s	PROPN
ajfa-10186	160	11	.	.	PROPN
ajfa-10186	160	12	stock	stock	NOUN
ajfa-10186	160	13	exchanges	exchange	NOUN
ajfa-10186	160	14	to	to	PART
ajfa-10186	160	15	relax	relax	VERB
ajfa-10186	160	16	financial	financial	ADJ
ajfa-10186	160	17	constraints	constraint	NOUN
ajfa-10186	160	18	?	?	PUNCT
ajfa-10186	160	19	.	.	PUNCT
ajfa-10186	161	1	journal	journal	PROPN
ajfa-10186	161	2	of	of	ADP
ajfa-10186	161	3	financial	financial	ADJ
ajfa-10186	161	4	and	and	CCONJ
ajfa-10186	161	5	quantitative	quantitative	ADJ
ajfa-10186	161	6	analysis	analysis	NOUN
ajfa-10186	161	7	,	,	PUNCT
ajfa-10186	161	8	40	40	NUM
ajfa-10186	161	9	,	,	PUNCT
ajfa-10186	161	10	109	109	NUM
ajfa-10186	161	11	-	-	SYM
ajfa-10186	161	12	133	133	NUM
ajfa-10186	161	13	.	.	PUNCT
ajfa-10186	162	1	http://dx.doi.org/10.1017/s0022109000001769	http://dx.doi.org/10.1017/s0022109000001769	NOUN
ajfa-10186	162	2	.	.	PUNCT
ajfa-10186	163	1	asian	asian	ADJ
ajfa-10186	163	2	journal	journal	PROPN
ajfa-10186	163	3	of	of	ADP
ajfa-10186	163	4	finance	finance	PROPN
ajfa-10186	163	5	&	&	CCONJ
ajfa-10186	163	6	accounting	accounting	PROPN
ajfa-10186	163	7	issn	issn	PROPN
ajfa-10186	163	8	1946	1946	NUM
ajfa-10186	163	9	-	-	PUNCT
ajfa-10186	163	10	052x	052x	PROPN
ajfa-10186	163	11	2016	2016	NUM
ajfa-10186	163	12	,	,	PUNCT
ajfa-10186	163	13	vol	vol	NOUN
ajfa-10186	163	14	.	.	PROPN
ajfa-10186	163	15	8	8	NUM
ajfa-10186	163	16	,	,	PUNCT
ajfa-10186	163	17	no	no	INTJ
ajfa-10186	163	18	.	.	NOUN
ajfa-10186	163	19	2	2	NUM
ajfa-10186	163	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-10186	163	21	134	134	NUM
ajfa-10186	163	22	miller	miller	NOUN
ajfa-10186	163	23	,	,	PUNCT
ajfa-10186	163	24	d.	d.	PROPN
ajfa-10186	163	25	(	(	PUNCT
ajfa-10186	163	26	1999	1999	NUM
ajfa-10186	163	27	)	)	PUNCT
ajfa-10186	163	28	.	.	PUNCT
ajfa-10186	164	1	the	the	DET
ajfa-10186	164	2	market	market	NOUN
ajfa-10186	164	3	reaction	reaction	NOUN
ajfa-10186	164	4	to	to	ADP
ajfa-10186	164	5	international	international	ADJ
ajfa-10186	164	6	cross	cross	NOUN
ajfa-10186	164	7	-	-	NOUN
ajfa-10186	164	8	listings	listing	NOUN
ajfa-10186	164	9	:	:	PUNCT
ajfa-10186	164	10	evidence	evidence	NOUN
ajfa-10186	164	11	from	from	ADP
ajfa-10186	164	12	depository	depository	NOUN
ajfa-10186	164	13	receipts	receipt	NOUN
ajfa-10186	164	14	,	,	PUNCT
ajfa-10186	164	15	journal	journal	NOUN
ajfa-10186	164	16	of	of	ADP
ajfa-10186	164	17	financial	financial	ADJ
ajfa-10186	164	18	economics	economic	NOUN
ajfa-10186	164	19	,	,	PUNCT
ajfa-10186	164	20	51	51	NUM
ajfa-10186	164	21	,	,	PUNCT
ajfa-10186	164	22	103	103	NUM
ajfa-10186	164	23	-	-	SYM
ajfa-10186	164	24	123	123	NUM
ajfa-10186	164	25	.	.	PUNCT
ajfa-10186	165	1	http://dx.doi.org/10.1016/s0304-405x(98)00045-2	http://dx.doi.org/10.1016/s0304-405x(98)00045-2	PROPN
ajfa-10186	165	2	.	.	PUNCT
ajfa-10186	165	3	reese	reese	PROPN
ajfa-10186	165	4	,	,	PUNCT
ajfa-10186	165	5	w.	w.	PROPN
ajfa-10186	165	6	,	,	PUNCT
ajfa-10186	165	7	&	&	CCONJ
ajfa-10186	165	8	m.	m.	PROPN
ajfa-10186	165	9	weisbach	weisbach	PROPN
ajfa-10186	165	10	(	(	PUNCT
ajfa-10186	165	11	2002	2002	NUM
ajfa-10186	165	12	)	)	PUNCT
ajfa-10186	165	13	.	.	PUNCT
ajfa-10186	166	1	protection	protection	NOUN
ajfa-10186	166	2	of	of	ADP
ajfa-10186	166	3	minority	minority	NOUN
ajfa-10186	166	4	shareholder	shareholder	NOUN
ajfa-10186	166	5	interests	interest	NOUN
ajfa-10186	166	6	,	,	PUNCT
ajfa-10186	166	7	cross	cross	NOUN
ajfa-10186	166	8	-	-	NOUN
ajfa-10186	166	9	listings	listing	NOUN
ajfa-10186	166	10	in	in	ADP
ajfa-10186	166	11	the	the	DET
ajfa-10186	166	12	united	united	PROPN
ajfa-10186	166	13	states	states	PROPN
ajfa-10186	166	14	,	,	PUNCT
ajfa-10186	166	15	and	and	CCONJ
ajfa-10186	166	16	subsequent	subsequent	ADJ
ajfa-10186	166	17	equity	equity	NOUN
ajfa-10186	166	18	offerings	offering	NOUN
ajfa-10186	166	19	.	.	PUNCT
ajfa-10186	167	1	journal	journal	NOUN
ajfa-10186	167	2	of	of	ADP
ajfa-10186	167	3	financial	financial	ADJ
ajfa-10186	167	4	economics	economic	NOUN
ajfa-10186	167	5	,	,	PUNCT
ajfa-10186	167	6	66	66	NUM
ajfa-10186	167	7	,	,	PUNCT
ajfa-10186	167	8	65	65	NUM
ajfa-10186	167	9	-	-	SYM
ajfa-10186	167	10	104	104	NUM
ajfa-10186	167	11	.	.	PUNCT
ajfa-10186	168	1	http://dx.doi.org/	http://dx.doi.org/	X
ajfa-10186	168	2	10.1016	10.1016	NUM
ajfa-10186	168	3	/	/	SYM
ajfa-10186	168	4	s0304	s0304	ADJ
ajfa-10186	168	5	-	-	PUNCT
ajfa-10186	168	6	405x(02)00151	405x(02)00151	NUM
ajfa-10186	168	7	-	-	PUNCT
ajfa-10186	168	8	4	4	NUM
ajfa-10186	168	9	verrechia	verrechia	NOUN
ajfa-10186	168	10	,	,	PUNCT
ajfa-10186	168	11	r.	r.	PROPN
ajfa-10186	168	12	(	(	PUNCT
ajfa-10186	168	13	1990	1990	NUM
ajfa-10186	168	14	)	)	PUNCT
ajfa-10186	168	15	.	.	PUNCT
ajfa-10186	169	1	information	information	NOUN
ajfa-10186	169	2	quality	quality	NOUN
ajfa-10186	169	3	and	and	CCONJ
ajfa-10186	169	4	discretionary	discretionary	ADJ
ajfa-10186	169	5	disclosure	disclosure	NOUN
ajfa-10186	169	6	.	.	PUNCT
ajfa-10186	170	1	journal	journal	NOUN
ajfa-10186	170	2	of	of	ADP
ajfa-10186	170	3	accounting	accounting	NOUN
ajfa-10186	170	4	and	and	CCONJ
ajfa-10186	170	5	economic	economic	ADJ
ajfa-10186	170	6	,	,	PUNCT
ajfa-10186	170	7	12	12	NUM
ajfa-10186	170	8	,	,	PUNCT
ajfa-10186	170	9	365	365	NUM
ajfa-10186	170	10	-	-	SYM
ajfa-10186	170	11	380	380	NUM
ajfa-10186	170	12	.	.	PUNCT
ajfa-10186	171	1	http://dx.doi.org/10.1016/0165-4101(90)90021-u	http://dx.doi.org/10.1016/0165-4101(90)90021-u	VERB
ajfa-10186	172	1	i	i	PRON
ajfa-10186	172	2	bank	bank	PROPN
ajfa-10186	172	3	of	of	ADP
ajfa-10186	172	4	new	new	PROPN
ajfa-10186	172	5	york	york	PROPN
ajfa-10186	172	6	’s	’s	PART
ajfa-10186	172	7	“	"	PUNCT
ajfa-10186	172	8	depositary	depositary	ADJ
ajfa-10186	172	9	receipts	receipt	NOUN
ajfa-10186	172	10	:	:	PUNCT
ajfa-10186	172	11	2002	2002	NUM
ajfa-10186	172	12	year	year	NOUN
ajfa-10186	172	13	-	-	PUNCT
ajfa-10186	172	14	end	end	NOUN
ajfa-10186	172	15	market	market	NOUN
ajfa-10186	172	16	review	review	NOUN
ajfa-10186	172	17	”	"	PUNCT
ajfa-10186	172	18	ii	ii	PROPN
ajfa-10186	172	19	securities	security	NOUN
ajfa-10186	172	20	in	in	ADP
ajfa-10186	172	21	us	us	PROPN
ajfa-10186	172	22	private	private	ADJ
ajfa-10186	172	23	equity	equity	NOUN
ajfa-10186	172	24	market	market	NOUN
ajfa-10186	172	25	(	(	PUNCT
ajfa-10186	172	26	excluding	exclude	VERB
ajfa-10186	172	27	rule	rule	NOUN
ajfa-10186	172	28	144a	144a	PROPN
ajfa-10186	172	29	private	private	ADJ
ajfa-10186	172	30	equity	equity	NOUN
ajfa-10186	172	31	market	market	NOUN
ajfa-10186	172	32	)	)	PUNCT
ajfa-10186	172	33	are	be	AUX
ajfa-10186	172	34	usually	usually	ADV
ajfa-10186	172	35	traded	trade	VERB
ajfa-10186	172	36	in	in	ADP
ajfa-10186	172	37	deep	deep	ADJ
ajfa-10186	172	38	discount	discount	NOUN
ajfa-10186	172	39	of	of	ADP
ajfa-10186	172	40	about	about	ADV
ajfa-10186	172	41	40	40	NUM
ajfa-10186	172	42	%	%	NOUN
ajfa-10186	172	43	in	in	ADP
ajfa-10186	172	44	the	the	DET
ajfa-10186	172	45	us	us	PROPN
ajfa-10186	172	46	.	.	PUNCT
ajfa-10186	173	1	however	however	ADV
ajfa-10186	173	2	,	,	PUNCT
ajfa-10186	173	3	the	the	DET
ajfa-10186	173	4	announcement	announcement	NOUN
ajfa-10186	173	5	reaction	reaction	NOUN
ajfa-10186	173	6	is	be	AUX
ajfa-10186	173	7	on	on	ADP
ajfa-10186	173	8	average	average	ADJ
ajfa-10186	173	9	positive	positive	ADJ
ajfa-10186	173	10	in	in	ADP
ajfa-10186	173	11	the	the	DET
ajfa-10186	173	12	stock	stock	NOUN
ajfa-10186	173	13	market	market	NOUN
ajfa-10186	173	14	.	.	PUNCT
ajfa-10186	174	1	the	the	DET
ajfa-10186	174	2	deep	deep	ADJ
ajfa-10186	174	3	discount	discount	NOUN
ajfa-10186	174	4	associated	associate	VERB
ajfa-10186	174	5	with	with	ADP
ajfa-10186	174	6	the	the	DET
ajfa-10186	174	7	positive	positive	ADJ
ajfa-10186	174	8	announcement	announcement	NOUN
ajfa-10186	174	9	return	return	NOUN
ajfa-10186	174	10	is	be	AUX
ajfa-10186	174	11	views	view	NOUN
ajfa-10186	174	12	as	as	SCONJ
ajfa-10186	174	13	the	the	DET
ajfa-10186	174	14	private	private	ADJ
ajfa-10186	174	15	issuance	issuance	NOUN
ajfa-10186	174	16	has	have	VERB
ajfa-10186	174	17	good	good	ADJ
ajfa-10186	174	18	investment	investment	NOUN
ajfa-10186	174	19	opportunities	opportunity	NOUN
ajfa-10186	174	20	to	to	PART
ajfa-10186	174	21	overcome	overcome	VERB
ajfa-10186	174	22	the	the	DET
ajfa-10186	174	23	effect	effect	NOUN
ajfa-10186	174	24	of	of	ADP
ajfa-10186	174	25	discount	discount	NOUN
ajfa-10186	174	26	.	.	PUNCT
ajfa-10186	175	1	iii	iii	X
ajfa-10186	175	2	chapter	chapter	NOUN
ajfa-10186	175	3	1	1	NUM
ajfa-10186	175	4	,	,	PUNCT
ajfa-10186	175	5	volume	volume	NOUN
ajfa-10186	175	6	1	1	NUM
ajfa-10186	175	7	of	of	ADP
ajfa-10186	175	8	international	international	ADJ
ajfa-10186	175	9	accounting	accounting	NOUN
ajfa-10186	175	10	and	and	CCONJ
ajfa-10186	175	11	auditing	auditing	NOUN
ajfa-10186	175	12	trends	trend	NOUN
ajfa-10186	175	13	(	(	PUNCT
ajfa-10186	175	14	2nd	2nd	NOUN
ajfa-10186	175	15	edition	edition	NOUN
ajfa-10186	175	16	1991	1991	NUM
ajfa-10186	175	17	)	)	PUNCT
ajfa-10186	175	18	,	,	PUNCT
ajfa-10186	175	19	center	center	NOUN
ajfa-10186	175	20	for	for	ADP
ajfa-10186	175	21	international	international	ADJ
ajfa-10186	175	22	financial	financial	ADJ
ajfa-10186	175	23	analysis	analysis	NOUN
ajfa-10186	175	24	and	and	CCONJ
ajfa-10186	175	25	research	research	NOUN
ajfa-10186	175	26	,	,	PUNCT
ajfa-10186	175	27	princeton	princeton	PROPN
ajfa-10186	175	28	,	,	PUNCT
ajfa-10186	175	29	new	new	PROPN
ajfa-10186	175	30	jersey	jersey	PROPN
ajfa-10186	175	31	.	.	PUNCT