id	sid	tid	token	lemma	pos
ajfa-11077	1	1	microsoft	microsoft	PROPN
ajfa-11077	1	2	word	word	NOUN
ajfa-11077	1	3	11077	11077	NUM
ajfa-11077	1	4	-	-	SYM
ajfa-11077	1	5	40874	40874	NUM
ajfa-11077	1	6	-	-	PUNCT
ajfa-11077	1	7	1	1	NUM
ajfa-11077	1	8	-	-	PUNCT
ajfa-11077	1	9	sm	sm	NOUN
ajfa-11077	1	10	-	-	PUNCT
ajfa-11077	1	11	writer2	writer2	VERB
ajfa-11077	1	12	-	-	ADJ
ajfa-11077	1	13	new	new	ADJ
ajfa-11077	1	14	asian	asian	ADJ
ajfa-11077	1	15	journal	journal	NOUN
ajfa-11077	1	16	of	of	ADP
ajfa-11077	1	17	finance	finance	PROPN
ajfa-11077	1	18	&	&	CCONJ
ajfa-11077	1	19	accounting	accounting	PROPN
ajfa-11077	1	20	issn	issn	PROPN
ajfa-11077	1	21	1946	1946	NUM
ajfa-11077	1	22	-	-	PUNCT
ajfa-11077	1	23	052x	052x	PROPN
ajfa-11077	1	24	2017	2017	NUM
ajfa-11077	1	25	,	,	PUNCT
ajfa-11077	1	26	vol	vol	NOUN
ajfa-11077	1	27	.	.	NOUN
ajfa-11077	1	28	9	9	NUM
ajfa-11077	1	29	,	,	PUNCT
ajfa-11077	1	30	no	no	INTJ
ajfa-11077	1	31	.	.	NOUN
ajfa-11077	1	32	1	1	NUM
ajfa-11077	1	33	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-11077	1	34	274	274	NUM
ajfa-11077	1	35	the	the	DET
ajfa-11077	1	36	foreign	foreign	ADJ
ajfa-11077	1	37	exchange	exchange	NOUN
ajfa-11077	1	38	exposures	exposure	NOUN
ajfa-11077	1	39	and	and	CCONJ
ajfa-11077	1	40	enterprise	enterprise	NOUN
ajfa-11077	1	41	risk	risk	NOUN
ajfa-11077	1	42	management	management	NOUN
ajfa-11077	1	43	:	:	PUNCT
ajfa-11077	1	44	evidence	evidence	NOUN
ajfa-11077	1	45	from	from	ADP
ajfa-11077	1	46	hospitality	hospitality	NOUN
ajfa-11077	1	47	industry	industry	NOUN
ajfa-11077	1	48	in	in	ADP
ajfa-11077	1	49	taiwan	taiwan	PROPN
ajfa-11077	1	50	hsiao	hsiao	PROPN
ajfa-11077	1	51	,	,	PUNCT
ajfa-11077	1	52	chiu	chiu	PROPN
ajfa-11077	1	53	-	-	PUNCT
ajfa-11077	1	54	ming	ming	PROPN
ajfa-11077	1	55	department	department	PROPN
ajfa-11077	1	56	of	of	ADP
ajfa-11077	1	57	finance	finance	PROPN
ajfa-11077	1	58	,	,	PUNCT
ajfa-11077	1	59	national	national	PROPN
ajfa-11077	1	60	chung	chung	PROPN
ajfa-11077	1	61	cheng	cheng	PROPN
ajfa-11077	1	62	university	university	PROPN
ajfa-11077	1	63	,	,	PUNCT
ajfa-11077	1	64	taiwan	taiwan	PROPN
ajfa-11077	1	65	&	&	CCONJ
ajfa-11077	1	66	national	national	PROPN
ajfa-11077	1	67	yunlin	yunlin	PROPN
ajfa-11077	1	68	university	university	PROPN
ajfa-11077	1	69	of	of	ADP
ajfa-11077	1	70	science	science	NOUN
ajfa-11077	1	71	and	and	CCONJ
ajfa-11077	1	72	technology	technology	NOUN
ajfa-11077	1	73	,	,	PUNCT
ajfa-11077	1	74	taiwan	taiwan	PROPN
ajfa-11077	1	75	no.168	no.168	PROPN
ajfa-11077	1	76	,	,	PUNCT
ajfa-11077	1	77	sec	sec	PROPN
ajfa-11077	1	78	.	.	PROPN
ajfa-11077	1	79	1	1	NUM
ajfa-11077	1	80	,	,	PUNCT
ajfa-11077	1	81	university	university	PROPN
ajfa-11077	1	82	rd	rd	PROPN
ajfa-11077	1	83	.	.	PROPN
ajfa-11077	1	84	,	,	PUNCT
ajfa-11077	1	85	min	min	PROPN
ajfa-11077	1	86	-	-	PROPN
ajfa-11077	1	87	hsiung	hsiung	PROPN
ajfa-11077	1	88	township	township	PROPN
ajfa-11077	1	89	,	,	PUNCT
ajfa-11077	1	90	chia	chia	PROPN
ajfa-11077	1	91	-	-	PUNCT
ajfa-11077	1	92	yi	yi	PROPN
ajfa-11077	1	93	county	county	PROPN
ajfa-11077	1	94	621	621	NUM
ajfa-11077	1	95	,	,	PUNCT
ajfa-11077	1	96	taiwan	taiwan	PROPN
ajfa-11077	1	97	(	(	PUNCT
ajfa-11077	1	98	r.o.c	r.o.c	PROPN
ajfa-11077	1	99	.	.	PUNCT
ajfa-11077	1	100	)	)	PUNCT
ajfa-11077	2	1	e	e	X
ajfa-11077	2	2	-	-	NOUN
ajfa-11077	2	3	mail	mail	NOUN
ajfa-11077	2	4	:	:	PUNCT
ajfa-11077	2	5	shiaucm@yahoo.com.tw	shiaucm@yahoo.com.tw	NOUN
ajfa-11077	2	6	.	.	PUNCT
ajfa-11077	3	1	received	receive	VERB
ajfa-11077	3	2	:	:	PUNCT
ajfa-11077	3	3	april	april	PROPN
ajfa-11077	3	4	2	2	NUM
ajfa-11077	3	5	,	,	PUNCT
ajfa-11077	3	6	2017	2017	NUM
ajfa-11077	3	7	accepted	accept	VERB
ajfa-11077	3	8	:	:	PUNCT
ajfa-11077	3	9	may	may	AUX
ajfa-11077	3	10	17	17	NUM
ajfa-11077	3	11	,	,	PUNCT
ajfa-11077	3	12	2017	2017	NUM
ajfa-11077	3	13	published	publish	VERB
ajfa-11077	3	14	:	:	PUNCT
ajfa-11077	3	15	june	june	PROPN
ajfa-11077	3	16	1	1	NUM
ajfa-11077	3	17	,	,	PUNCT
ajfa-11077	3	18	2017	2017	NUM
ajfa-11077	3	19	doi:10.5296	doi:10.5296	NOUN
ajfa-11077	3	20	/	/	SYM
ajfa-11077	3	21	ajfa.v9i1.11077	ajfa.v9i1.11077	PROPN
ajfa-11077	3	22	url	url	PROPN
ajfa-11077	3	23	:	:	PUNCT
ajfa-11077	3	24	http://dx.doi.org/10.5296/ajfa.v9i1.11077	http://dx.doi.org/10.5296/ajfa.v9i1.11077	X
ajfa-11077	3	25	abstract	abstract	ADV
ajfa-11077	3	26	this	this	DET
ajfa-11077	3	27	paper	paper	NOUN
ajfa-11077	3	28	adopts	adopt	VERB
ajfa-11077	3	29	arima	arima	PROPN
ajfa-11077	3	30	model	model	NOUN
ajfa-11077	3	31	to	to	PART
ajfa-11077	3	32	explore	explore	VERB
ajfa-11077	3	33	the	the	DET
ajfa-11077	3	34	relationship	relationship	NOUN
ajfa-11077	3	35	between	between	ADP
ajfa-11077	3	36	business	business	NOUN
ajfa-11077	3	37	performance	performance	NOUN
ajfa-11077	3	38	and	and	CCONJ
ajfa-11077	3	39	the	the	DET
ajfa-11077	3	40	fluctuation	fluctuation	NOUN
ajfa-11077	3	41	of	of	ADP
ajfa-11077	3	42	exchange	exchange	NOUN
ajfa-11077	3	43	rate	rate	NOUN
ajfa-11077	3	44	.	.	PUNCT
ajfa-11077	4	1	the	the	DET
ajfa-11077	4	2	empirical	empirical	ADJ
ajfa-11077	4	3	results	result	NOUN
ajfa-11077	4	4	show	show	VERB
ajfa-11077	4	5	that	that	SCONJ
ajfa-11077	4	6	the	the	DET
ajfa-11077	4	7	impacts	impact	NOUN
ajfa-11077	4	8	of	of	ADP
ajfa-11077	4	9	the	the	DET
ajfa-11077	4	10	fluctuation	fluctuation	NOUN
ajfa-11077	4	11	of	of	ADP
ajfa-11077	4	12	foreign	foreign	ADJ
ajfa-11077	4	13	exchange	exchange	NOUN
ajfa-11077	4	14	rate	rate	NOUN
ajfa-11077	4	15	on	on	ADP
ajfa-11077	4	16	the	the	DET
ajfa-11077	4	17	business	business	NOUN
ajfa-11077	4	18	performance	performance	NOUN
ajfa-11077	4	19	of	of	ADP
ajfa-11077	4	20	hotels	hotel	NOUN
ajfa-11077	4	21	are	be	AUX
ajfa-11077	4	22	significant	significant	ADJ
ajfa-11077	4	23	and	and	CCONJ
ajfa-11077	4	24	different	different	ADJ
ajfa-11077	4	25	across	across	ADP
ajfa-11077	4	26	currencies	currency	NOUN
ajfa-11077	4	27	and	and	CCONJ
ajfa-11077	4	28	the	the	DET
ajfa-11077	4	29	size	size	NOUN
ajfa-11077	4	30	of	of	ADP
ajfa-11077	4	31	a	a	DET
ajfa-11077	4	32	hotel	hotel	NOUN
ajfa-11077	4	33	.	.	PUNCT
ajfa-11077	5	1	furthermore	furthermore	ADV
ajfa-11077	5	2	,	,	PUNCT
ajfa-11077	5	3	based	base	VERB
ajfa-11077	5	4	on	on	ADP
ajfa-11077	5	5	the	the	DET
ajfa-11077	5	6	framework	framework	NOUN
ajfa-11077	5	7	of	of	ADP
ajfa-11077	5	8	kim	kim	PROPN
ajfa-11077	5	9	(	(	PUNCT
ajfa-11077	5	10	2013	2013	NUM
ajfa-11077	5	11	)	)	PUNCT
ajfa-11077	5	12	,	,	PUNCT
ajfa-11077	5	13	a	a	DET
ajfa-11077	5	14	modern	modern	ADJ
ajfa-11077	5	15	portfolio	portfolio	NOUN
ajfa-11077	5	16	theory	theory	NOUN
ajfa-11077	5	17	proposed	propose	VERB
ajfa-11077	5	18	by	by	ADP
ajfa-11077	5	19	markowitz	markowitz	PROPN
ajfa-11077	5	20	(	(	PUNCT
ajfa-11077	5	21	1952	1952	NUM
ajfa-11077	5	22	)	)	PUNCT
ajfa-11077	5	23	gives	give	VERB
ajfa-11077	5	24	an	an	DET
ajfa-11077	5	25	optimal	optimal	ADJ
ajfa-11077	5	26	allocation	allocation	NOUN
ajfa-11077	5	27	of	of	ADP
ajfa-11077	5	28	foreign	foreign	ADJ
ajfa-11077	5	29	exchange	exchange	NOUN
ajfa-11077	5	30	for	for	ADP
ajfa-11077	5	31	a	a	DET
ajfa-11077	5	32	hotel	hotel	NOUN
ajfa-11077	5	33	’s	’s	PART
ajfa-11077	5	34	decision	decision	NOUN
ajfa-11077	5	35	-	-	PUNCT
ajfa-11077	5	36	makers	maker	NOUN
ajfa-11077	5	37	,	,	PUNCT
ajfa-11077	5	38	who	who	PRON
ajfa-11077	5	39	would	would	AUX
ajfa-11077	5	40	avoid	avoid	VERB
ajfa-11077	5	41	exchange	exchange	NOUN
ajfa-11077	5	42	rate	rate	NOUN
ajfa-11077	5	43	risk	risk	NOUN
ajfa-11077	5	44	exposure	exposure	NOUN
ajfa-11077	5	45	and	and	CCONJ
ajfa-11077	5	46	complete	complete	VERB
ajfa-11077	5	47	the	the	DET
ajfa-11077	5	48	construction	construction	NOUN
ajfa-11077	5	49	of	of	ADP
ajfa-11077	5	50	enterprise	enterprise	NOUN
ajfa-11077	5	51	risk	risk	NOUN
ajfa-11077	5	52	management	management	NOUN
ajfa-11077	5	53	system	system	NOUN
ajfa-11077	5	54	(	(	PUNCT
ajfa-11077	5	55	erm	erm	PROPN
ajfa-11077	5	56	)	)	PUNCT
ajfa-11077	5	57	to	to	PART
ajfa-11077	5	58	reduce	reduce	VERB
ajfa-11077	5	59	losses	loss	NOUN
ajfa-11077	5	60	.	.	PUNCT
ajfa-11077	6	1	keywords	keyword	NOUN
ajfa-11077	6	2	:	:	PUNCT
ajfa-11077	6	3	foreign	foreign	ADJ
ajfa-11077	6	4	exchange	exchange	NOUN
ajfa-11077	6	5	exposures	exposure	NOUN
ajfa-11077	6	6	,	,	PUNCT
ajfa-11077	6	7	modern	modern	ADJ
ajfa-11077	6	8	portfolio	portfolio	NOUN
ajfa-11077	6	9	theory	theory	NOUN
ajfa-11077	6	10	,	,	PUNCT
ajfa-11077	6	11	enterprise	enterprise	NOUN
ajfa-11077	6	12	risk	risk	NOUN
ajfa-11077	6	13	management	management	NOUN
ajfa-11077	6	14	,	,	PUNCT
ajfa-11077	6	15	financial	financial	ADJ
ajfa-11077	6	16	performances	performance	NOUN
ajfa-11077	6	17	,	,	PUNCT
ajfa-11077	6	18	arima	arima	PROPN
ajfa-11077	6	19	asian	asian	PROPN
ajfa-11077	6	20	journal	journal	PROPN
ajfa-11077	6	21	of	of	ADP
ajfa-11077	6	22	finance	finance	PROPN
ajfa-11077	6	23	&	&	CCONJ
ajfa-11077	6	24	accounting	accounting	PROPN
ajfa-11077	6	25	issn	issn	PROPN
ajfa-11077	6	26	1946	1946	NUM
ajfa-11077	6	27	-	-	PUNCT
ajfa-11077	6	28	052x	052x	PROPN
ajfa-11077	6	29	2017	2017	NUM
ajfa-11077	6	30	,	,	PUNCT
ajfa-11077	6	31	vol	vol	NOUN
ajfa-11077	6	32	.	.	NOUN
ajfa-11077	6	33	9	9	NUM
ajfa-11077	6	34	,	,	PUNCT
ajfa-11077	6	35	no	no	INTJ
ajfa-11077	6	36	.	.	NOUN
ajfa-11077	6	37	1	1	NUM
ajfa-11077	6	38	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	6	39	275	275	NUM
ajfa-11077	6	40	1	1	NUM
ajfa-11077	6	41	.	.	PUNCT
ajfa-11077	7	1	introduction	introduction	NOUN
ajfa-11077	7	2	tourism	tourism	NOUN
ajfa-11077	7	3	can	can	AUX
ajfa-11077	7	4	be	be	AUX
ajfa-11077	7	5	thought	think	VERB
ajfa-11077	7	6	as	as	ADP
ajfa-11077	7	7	an	an	DET
ajfa-11077	7	8	integral	integral	ADJ
ajfa-11077	7	9	industry	industry	NOUN
ajfa-11077	7	10	that	that	PRON
ajfa-11077	7	11	combines	combine	VERB
ajfa-11077	7	12	public	public	ADJ
ajfa-11077	7	13	and	and	CCONJ
ajfa-11077	7	14	private	private	ADJ
ajfa-11077	7	15	sectors	sector	NOUN
ajfa-11077	7	16	.	.	PUNCT
ajfa-11077	8	1	anderson	anderson	PROPN
ajfa-11077	8	2	and	and	CCONJ
ajfa-11077	8	3	getz	getz	PROPN
ajfa-11077	8	4	(	(	PUNCT
ajfa-11077	8	5	2009	2009	NUM
ajfa-11077	8	6	)	)	PUNCT
ajfa-11077	8	7	discussed	discuss	VERB
ajfa-11077	8	8	that	that	SCONJ
ajfa-11077	8	9	the	the	DET
ajfa-11077	8	10	public	public	ADJ
ajfa-11077	8	11	sectors	sector	NOUN
ajfa-11077	8	12	should	should	AUX
ajfa-11077	8	13	make	make	VERB
ajfa-11077	8	14	the	the	DET
ajfa-11077	8	15	tourism	tourism	NOUN
ajfa-11077	8	16	policies	policy	NOUN
ajfa-11077	8	17	to	to	PART
ajfa-11077	8	18	stimulate	stimulate	VERB
ajfa-11077	8	19	the	the	DET
ajfa-11077	8	20	development	development	NOUN
ajfa-11077	8	21	of	of	ADP
ajfa-11077	8	22	tourism	tourism	NOUN
ajfa-11077	8	23	and	and	CCONJ
ajfa-11077	8	24	promote	promote	VERB
ajfa-11077	8	25	some	some	DET
ajfa-11077	8	26	non	non	ADJ
ajfa-11077	8	27	-	-	ADJ
ajfa-11077	8	28	profit	profit	ADJ
ajfa-11077	8	29	-	-	PUNCT
ajfa-11077	8	30	festivals	festival	NOUN
ajfa-11077	8	31	to	to	PART
ajfa-11077	8	32	attract	attract	VERB
ajfa-11077	8	33	tourists	tourist	NOUN
ajfa-11077	8	34	.	.	PUNCT
ajfa-11077	9	1	likewise	likewise	ADV
ajfa-11077	9	2	,	,	PUNCT
ajfa-11077	9	3	the	the	DET
ajfa-11077	9	4	private	private	ADJ
ajfa-11077	9	5	sectors	sector	NOUN
ajfa-11077	9	6	,	,	PUNCT
ajfa-11077	9	7	such	such	ADJ
ajfa-11077	9	8	as	as	ADP
ajfa-11077	9	9	in	in	ADP
ajfa-11077	9	10	the	the	DET
ajfa-11077	9	11	field	field	NOUN
ajfa-11077	9	12	of	of	ADP
ajfa-11077	9	13	transportation	transportation	NOUN
ajfa-11077	9	14	,	,	PUNCT
ajfa-11077	9	15	communication	communication	NOUN
ajfa-11077	9	16	,	,	PUNCT
ajfa-11077	9	17	leisure	leisure	NOUN
ajfa-11077	9	18	,	,	PUNCT
ajfa-11077	9	19	department	department	NOUN
ajfa-11077	9	20	,	,	PUNCT
ajfa-11077	9	21	etc	etc	X
ajfa-11077	9	22	.	.	X
ajfa-11077	9	23	,	,	PUNCT
ajfa-11077	9	24	should	should	AUX
ajfa-11077	9	25	be	be	AUX
ajfa-11077	9	26	integrated	integrate	VERB
ajfa-11077	9	27	under	under	ADP
ajfa-11077	9	28	the	the	DET
ajfa-11077	9	29	same	same	ADJ
ajfa-11077	9	30	goals	goal	NOUN
ajfa-11077	9	31	to	to	PART
ajfa-11077	9	32	generate	generate	VERB
ajfa-11077	9	33	the	the	DET
ajfa-11077	9	34	profit	profit	NOUN
ajfa-11077	9	35	from	from	ADP
ajfa-11077	9	36	tourism	tourism	NOUN
ajfa-11077	9	37	-	-	PUNCT
ajfa-11077	9	38	related	relate	VERB
ajfa-11077	9	39	businesses	business	NOUN
ajfa-11077	9	40	.	.	PUNCT
ajfa-11077	10	1	the	the	PRON
ajfa-11077	10	2	more	more	ADJ
ajfa-11077	10	3	the	the	DET
ajfa-11077	10	4	tourists	tourist	NOUN
ajfa-11077	10	5	and	and	CCONJ
ajfa-11077	10	6	the	the	PRON
ajfa-11077	10	7	longer	long	ADV
ajfa-11077	10	8	they	they	PRON
ajfa-11077	10	9	stay	stay	VERB
ajfa-11077	10	10	,	,	PUNCT
ajfa-11077	10	11	the	the	DET
ajfa-11077	10	12	more	more	ADJ
ajfa-11077	10	13	revenue	revenue	NOUN
ajfa-11077	10	14	generates	generate	VERB
ajfa-11077	10	15	from	from	ADP
ajfa-11077	10	16	the	the	DET
ajfa-11077	10	17	hospitality	hospitality	NOUN
ajfa-11077	10	18	industry	industry	NOUN
ajfa-11077	10	19	.	.	PUNCT
ajfa-11077	11	1	in	in	ADP
ajfa-11077	11	2	candela	candela	NOUN
ajfa-11077	11	3	and	and	CCONJ
ajfa-11077	11	4	figini	figini	NOUN
ajfa-11077	11	5	(	(	PUNCT
ajfa-11077	11	6	2011	2011	NUM
ajfa-11077	11	7	)	)	PUNCT
ajfa-11077	11	8	,	,	PUNCT
ajfa-11077	11	9	they	they	PRON
ajfa-11077	11	10	developed	develop	VERB
ajfa-11077	11	11	the	the	DET
ajfa-11077	11	12	tourism	tourism	NOUN
ajfa-11077	11	13	economics	economic	NOUN
ajfa-11077	11	14	which	which	PRON
ajfa-11077	11	15	is	be	AUX
ajfa-11077	11	16	said	say	VERB
ajfa-11077	11	17	to	to	PART
ajfa-11077	11	18	be	be	AUX
ajfa-11077	11	19	a	a	DET
ajfa-11077	11	20	no	no	DET
ajfa-11077	11	21	-	-	PUNCT
ajfa-11077	11	22	smokestack	smokestack	NOUN
ajfa-11077	11	23	industry	industry	NOUN
ajfa-11077	11	24	.	.	PUNCT
ajfa-11077	12	1	from	from	ADP
ajfa-11077	12	2	the	the	DET
ajfa-11077	12	3	economic	economic	ADJ
ajfa-11077	12	4	point	point	NOUN
ajfa-11077	12	5	of	of	ADP
ajfa-11077	12	6	view	view	NOUN
ajfa-11077	12	7	,	,	PUNCT
ajfa-11077	12	8	tourism	tourism	NOUN
ajfa-11077	12	9	will	will	AUX
ajfa-11077	12	10	create	create	VERB
ajfa-11077	12	11	value	value	NOUN
ajfa-11077	12	12	from	from	ADP
ajfa-11077	12	13	catering	catering	NOUN
ajfa-11077	12	14	,	,	PUNCT
ajfa-11077	12	15	hotels	hotel	NOUN
ajfa-11077	12	16	,	,	PUNCT
ajfa-11077	12	17	aviation	aviation	NOUN
ajfa-11077	12	18	,	,	PUNCT
ajfa-11077	12	19	transportation	transportation	NOUN
ajfa-11077	12	20	and	and	CCONJ
ajfa-11077	12	21	many	many	ADJ
ajfa-11077	12	22	other	other	ADJ
ajfa-11077	12	23	related	related	ADJ
ajfa-11077	12	24	industries	industry	NOUN
ajfa-11077	12	25	.	.	PUNCT
ajfa-11077	13	1	in	in	ADP
ajfa-11077	13	2	2013	2013	NUM
ajfa-11077	13	3	,	,	PUNCT
ajfa-11077	13	4	japanese	japanese	ADJ
ajfa-11077	13	5	prime	prime	ADJ
ajfa-11077	13	6	minister	minister	PROPN
ajfa-11077	13	7	shinzo	shinzo	PROPN
ajfa-11077	13	8	abe	abe	PROPN
ajfa-11077	13	9	implemented	implement	VERB
ajfa-11077	13	10	a	a	DET
ajfa-11077	13	11	policy	policy	NOUN
ajfa-11077	13	12	combining	combine	VERB
ajfa-11077	13	13	fiscal	fiscal	ADJ
ajfa-11077	13	14	expansion	expansion	NOUN
ajfa-11077	13	15	(	(	PUNCT
ajfa-11077	13	16	i.e.	i.e.	X
ajfa-11077	13	17	quantitative	quantitative	ADJ
ajfa-11077	13	18	easing	easing	NOUN
ajfa-11077	13	19	)	)	PUNCT
ajfa-11077	13	20	and	and	CCONJ
ajfa-11077	13	21	structural	structural	ADJ
ajfa-11077	13	22	reform	reform	NOUN
ajfa-11077	13	23	in	in	ADP
ajfa-11077	13	24	the	the	DET
ajfa-11077	13	25	hope	hope	NOUN
ajfa-11077	13	26	of	of	ADP
ajfa-11077	13	27	revitalizing	revitalize	VERB
ajfa-11077	13	28	japan	japan	PROPN
ajfa-11077	13	29	’s	’s	PART
ajfa-11077	13	30	domestic	domestic	ADJ
ajfa-11077	13	31	economy	economy	NOUN
ajfa-11077	13	32	.	.	PUNCT
ajfa-11077	14	1	indeed	indeed	ADV
ajfa-11077	14	2	,	,	PUNCT
ajfa-11077	14	3	this	this	DET
ajfa-11077	14	4	so	so	ADV
ajfa-11077	14	5	-	-	PUNCT
ajfa-11077	14	6	called	call	VERB
ajfa-11077	14	7	“	"	PUNCT
ajfa-11077	14	8	abenomics	abenomic	NOUN
ajfa-11077	14	9	”	"	PUNCT
ajfa-11077	14	10	has	have	AUX
ajfa-11077	14	11	resulted	result	VERB
ajfa-11077	14	12	in	in	ADP
ajfa-11077	14	13	a	a	DET
ajfa-11077	14	14	significant	significant	ADJ
ajfa-11077	14	15	growth	growth	NOUN
ajfa-11077	14	16	in	in	ADP
ajfa-11077	14	17	japan	japan	PROPN
ajfa-11077	14	18	’s	’s	PART
ajfa-11077	14	19	domestic	domestic	ADJ
ajfa-11077	14	20	economy	economy	NOUN
ajfa-11077	14	21	.	.	PUNCT
ajfa-11077	15	1	nieh	nieh	PROPN
ajfa-11077	15	2	and	and	CCONJ
ajfa-11077	15	3	cho	cho	PROPN
ajfa-11077	15	4	(	(	PUNCT
ajfa-11077	15	5	2017	2017	NUM
ajfa-11077	15	6	)	)	PUNCT
ajfa-11077	15	7	adopted	adopt	VERB
ajfa-11077	15	8	the	the	DET
ajfa-11077	15	9	panel	panel	NOUN
ajfa-11077	15	10	data	data	VERB
ajfa-11077	15	11	analysis	analysis	NOUN
ajfa-11077	15	12	to	to	PART
ajfa-11077	15	13	investigate	investigate	VERB
ajfa-11077	15	14	the	the	DET
ajfa-11077	15	15	relationship	relationship	NOUN
ajfa-11077	15	16	between	between	ADP
ajfa-11077	15	17	foreign	foreign	ADJ
ajfa-11077	15	18	exchange	exchange	NOUN
ajfa-11077	15	19	rate	rate	NOUN
ajfa-11077	15	20	and	and	CCONJ
ajfa-11077	15	21	financial	financial	ADJ
ajfa-11077	15	22	ratios	ratio	NOUN
ajfa-11077	15	23	of	of	ADP
ajfa-11077	15	24	taiwanese	taiwanese	ADJ
ajfa-11077	15	25	automobile	automobile	NOUN
ajfa-11077	15	26	and	and	CCONJ
ajfa-11077	15	27	integrated	integrated	ADJ
ajfa-11077	15	28	circuit	circuit	NOUN
ajfa-11077	15	29	industries	industry	NOUN
ajfa-11077	15	30	.	.	PUNCT
ajfa-11077	16	1	they	they	PRON
ajfa-11077	16	2	found	find	VERB
ajfa-11077	16	3	when	when	SCONJ
ajfa-11077	16	4	the	the	DET
ajfa-11077	16	5	abenomics	abenomic	NOUN
ajfa-11077	16	6	applied	apply	VERB
ajfa-11077	16	7	a	a	DET
ajfa-11077	16	8	policy	policy	NOUN
ajfa-11077	16	9	of	of	ADP
ajfa-11077	16	10	qe	qe	PROPN
ajfa-11077	16	11	to	to	PART
ajfa-11077	16	12	instigate	instigate	VERB
ajfa-11077	16	13	a	a	DET
ajfa-11077	16	14	sharp	sharp	ADJ
ajfa-11077	16	15	depreciation	depreciation	NOUN
ajfa-11077	16	16	of	of	ADP
ajfa-11077	16	17	the	the	DET
ajfa-11077	16	18	yen	yen	NOUN
ajfa-11077	16	19	,	,	PUNCT
ajfa-11077	16	20	the	the	DET
ajfa-11077	16	21	effects	effect	NOUN
ajfa-11077	16	22	of	of	ADP
ajfa-11077	16	23	the	the	DET
ajfa-11077	16	24	policies	policy	NOUN
ajfa-11077	16	25	absolutely	absolutely	ADV
ajfa-11077	16	26	benefit	benefit	VERB
ajfa-11077	16	27	to	to	ADP
ajfa-11077	16	28	japanese	japanese	ADJ
ajfa-11077	16	29	export	export	NOUN
ajfa-11077	16	30	industries	industry	NOUN
ajfa-11077	16	31	.	.	PUNCT
ajfa-11077	17	1	accordingly	accordingly	ADV
ajfa-11077	17	2	,	,	PUNCT
ajfa-11077	17	3	the	the	DET
ajfa-11077	17	4	impact	impact	NOUN
ajfa-11077	17	5	of	of	ADP
ajfa-11077	17	6	exchange	exchange	NOUN
ajfa-11077	17	7	rates	rate	NOUN
ajfa-11077	17	8	on	on	ADP
ajfa-11077	17	9	some	some	DET
ajfa-11077	17	10	industries	industry	NOUN
ajfa-11077	17	11	becomes	become	VERB
ajfa-11077	17	12	even	even	ADV
ajfa-11077	17	13	more	more	ADV
ajfa-11077	17	14	obvious	obvious	ADJ
ajfa-11077	17	15	and	and	CCONJ
ajfa-11077	17	16	important	important	ADJ
ajfa-11077	17	17	,	,	PUNCT
ajfa-11077	17	18	especially	especially	ADV
ajfa-11077	17	19	in	in	ADP
ajfa-11077	17	20	the	the	DET
ajfa-11077	17	21	tourism	tourism	NOUN
ajfa-11077	17	22	industry	industry	NOUN
ajfa-11077	17	23	while	while	SCONJ
ajfa-11077	17	24	japanese	japanese	ADJ
ajfa-11077	17	25	yen	yen	NOUN
ajfa-11077	17	26	is	be	AUX
ajfa-11077	17	27	depreciated	depreciate	VERB
ajfa-11077	17	28	in	in	ADP
ajfa-11077	17	29	order	order	NOUN
ajfa-11077	17	30	to	to	PART
ajfa-11077	17	31	stimulate	stimulate	VERB
ajfa-11077	17	32	the	the	DET
ajfa-11077	17	33	economy	economy	NOUN
ajfa-11077	17	34	.	.	PUNCT
ajfa-11077	18	1	a	a	DET
ajfa-11077	18	2	depreciation	depreciation	NOUN
ajfa-11077	18	3	of	of	ADP
ajfa-11077	18	4	the	the	DET
ajfa-11077	18	5	exchange	exchange	NOUN
ajfa-11077	18	6	rate	rate	NOUN
ajfa-11077	18	7	against	against	ADP
ajfa-11077	18	8	other	other	ADJ
ajfa-11077	18	9	currencies	currency	NOUN
ajfa-11077	18	10	will	will	AUX
ajfa-11077	18	11	increase	increase	VERB
ajfa-11077	18	12	a	a	DET
ajfa-11077	18	13	country	country	NOUN
ajfa-11077	18	14	’s	’s	PART
ajfa-11077	18	15	international	international	ADJ
ajfa-11077	18	16	competitive	competitive	ADJ
ajfa-11077	18	17	advantage	advantage	NOUN
ajfa-11077	18	18	or	or	CCONJ
ajfa-11077	18	19	exports	export	NOUN
ajfa-11077	18	20	.	.	PUNCT
ajfa-11077	19	1	implementing	implement	VERB
ajfa-11077	19	2	quantitative	quantitative	ADJ
ajfa-11077	19	3	easing	ease	VERB
ajfa-11077	19	4	policy	policy	NOUN
ajfa-11077	19	5	that	that	PRON
ajfa-11077	19	6	caused	cause	VERB
ajfa-11077	19	7	the	the	DET
ajfa-11077	19	8	depreciation	depreciation	NOUN
ajfa-11077	19	9	of	of	ADP
ajfa-11077	19	10	japanese	japanese	ADJ
ajfa-11077	19	11	yen	yen	PROPN
ajfa-11077	19	12	increases	increase	VERB
ajfa-11077	19	13	japan	japan	PROPN
ajfa-11077	19	14	’s	’s	PART
ajfa-11077	19	15	foreign	foreign	ADJ
ajfa-11077	19	16	trade	trade	NOUN
ajfa-11077	19	17	and	and	CCONJ
ajfa-11077	19	18	also	also	ADV
ajfa-11077	19	19	successfully	successfully	ADV
ajfa-11077	19	20	leads	lead	VERB
ajfa-11077	19	21	the	the	DET
ajfa-11077	19	22	economy	economy	NOUN
ajfa-11077	19	23	back	back	ADV
ajfa-11077	19	24	to	to	ADP
ajfa-11077	19	25	situation	situation	NOUN
ajfa-11077	19	26	.	.	PUNCT
ajfa-11077	20	1	surprisingly	surprisingly	ADV
ajfa-11077	20	2	,	,	PUNCT
ajfa-11077	20	3	the	the	DET
ajfa-11077	20	4	tourism	tourism	NOUN
ajfa-11077	20	5	industry	industry	NOUN
ajfa-11077	20	6	has	have	AUX
ajfa-11077	20	7	gained	gain	VERB
ajfa-11077	20	8	the	the	DET
ajfa-11077	20	9	most	most	ADJ
ajfa-11077	20	10	benefits	benefit	NOUN
ajfa-11077	20	11	of	of	ADP
ajfa-11077	20	12	all	all	PRON
ajfa-11077	20	13	.	.	PUNCT
ajfa-11077	21	1	this	this	DET
ajfa-11077	21	2	paper	paper	NOUN
ajfa-11077	21	3	,	,	PUNCT
ajfa-11077	21	4	therefore	therefore	ADV
ajfa-11077	21	5	,	,	PUNCT
ajfa-11077	21	6	wants	want	VERB
ajfa-11077	21	7	to	to	PART
ajfa-11077	21	8	study	study	VERB
ajfa-11077	21	9	the	the	DET
ajfa-11077	21	10	case	case	NOUN
ajfa-11077	21	11	and	and	CCONJ
ajfa-11077	21	12	examine	examine	VERB
ajfa-11077	21	13	if	if	SCONJ
ajfa-11077	21	14	the	the	DET
ajfa-11077	21	15	situation	situation	NOUN
ajfa-11077	21	16	could	could	AUX
ajfa-11077	21	17	as	as	ADV
ajfa-11077	21	18	well	well	ADV
ajfa-11077	21	19	apply	apply	VERB
ajfa-11077	21	20	to	to	ADP
ajfa-11077	21	21	the	the	DET
ajfa-11077	21	22	tourism	tourism	NOUN
ajfa-11077	21	23	industry	industry	NOUN
ajfa-11077	21	24	in	in	ADP
ajfa-11077	21	25	taiwan	taiwan	PROPN
ajfa-11077	21	26	.	.	PUNCT
ajfa-11077	22	1	oh	oh	INTJ
ajfa-11077	22	2	(	(	PUNCT
ajfa-11077	22	3	2005	2005	NUM
ajfa-11077	22	4	)	)	PUNCT
ajfa-11077	22	5	addressed	address	VERB
ajfa-11077	22	6	the	the	DET
ajfa-11077	22	7	causal	causal	ADJ
ajfa-11077	22	8	relations	relation	NOUN
ajfa-11077	22	9	between	between	ADP
ajfa-11077	22	10	tourism	tourism	NOUN
ajfa-11077	22	11	growth	growth	NOUN
ajfa-11077	22	12	and	and	CCONJ
ajfa-11077	22	13	economic	economic	ADJ
ajfa-11077	22	14	expansion	expansion	NOUN
ajfa-11077	22	15	for	for	ADP
ajfa-11077	22	16	the	the	DET
ajfa-11077	22	17	korean	korean	ADJ
ajfa-11077	22	18	economy	economy	NOUN
ajfa-11077	22	19	.	.	PUNCT
ajfa-11077	23	1	he	he	PRON
ajfa-11077	23	2	employed	employ	VERB
ajfa-11077	23	3	the	the	DET
ajfa-11077	23	4	granger	granger	PROPN
ajfa-11077	23	5	causality	causality	PROPN
ajfa-11077	23	6	test	test	NOUN
ajfa-11077	23	7	and	and	CCONJ
ajfa-11077	23	8	found	find	VERB
ajfa-11077	23	9	that	that	SCONJ
ajfa-11077	23	10	the	the	DET
ajfa-11077	23	11	korean	korean	ADJ
ajfa-11077	23	12	tourism	tourism	NOUN
ajfa-11077	23	13	industry	industry	NOUN
ajfa-11077	23	14	is	be	AUX
ajfa-11077	23	15	economic	economic	ADV
ajfa-11077	23	16	-	-	PUNCT
ajfa-11077	23	17	driven	drive	VERB
ajfa-11077	23	18	.	.	PUNCT
ajfa-11077	24	1	kim	kim	PROPN
ajfa-11077	24	2	,	,	PUNCT
ajfa-11077	24	3	chen	chen	PROPN
ajfa-11077	24	4	and	and	CCONJ
ajfa-11077	24	5	jang	jang	PROPN
ajfa-11077	24	6	(	(	PUNCT
ajfa-11077	24	7	2006	2006	NUM
ajfa-11077	24	8	)	)	PUNCT
ajfa-11077	24	9	examined	examine	VERB
ajfa-11077	24	10	the	the	DET
ajfa-11077	24	11	relationship	relationship	NOUN
ajfa-11077	24	12	between	between	ADP
ajfa-11077	24	13	tourism	tourism	NOUN
ajfa-11077	24	14	expansion	expansion	NOUN
ajfa-11077	24	15	and	and	CCONJ
ajfa-11077	24	16	economic	economic	ADJ
ajfa-11077	24	17	development	development	NOUN
ajfa-11077	24	18	in	in	ADP
ajfa-11077	24	19	taiwan	taiwan	PROPN
ajfa-11077	24	20	.	.	PUNCT
ajfa-11077	25	1	they	they	PRON
ajfa-11077	25	2	found	find	VERB
ajfa-11077	25	3	a	a	DET
ajfa-11077	25	4	bi	bi	ADJ
ajfa-11077	25	5	-	-	ADJ
ajfa-11077	25	6	directional	directional	ADJ
ajfa-11077	25	7	causality	causality	NOUN
ajfa-11077	25	8	between	between	ADP
ajfa-11077	25	9	them	they	PRON
ajfa-11077	25	10	.	.	PUNCT
ajfa-11077	26	1	in	in	ADP
ajfa-11077	26	2	other	other	ADJ
ajfa-11077	26	3	words	word	NOUN
ajfa-11077	26	4	,	,	PUNCT
ajfa-11077	26	5	in	in	ADP
ajfa-11077	26	6	taiwan	taiwan	PROPN
ajfa-11077	26	7	,	,	PUNCT
ajfa-11077	26	8	tourism	tourism	NOUN
ajfa-11077	26	9	expansion	expansion	NOUN
ajfa-11077	26	10	and	and	CCONJ
ajfa-11077	26	11	economic	economic	ADJ
ajfa-11077	26	12	development	development	NOUN
ajfa-11077	26	13	reinforce	reinforce	VERB
ajfa-11077	26	14	each	each	DET
ajfa-11077	26	15	other	other	ADJ
ajfa-11077	26	16	.	.	PUNCT
ajfa-11077	27	1	min	min	NOUN
ajfa-11077	27	2	(	(	PUNCT
ajfa-11077	27	3	2013	2013	NUM
ajfa-11077	27	4	)	)	PUNCT
ajfa-11077	27	5	used	use	VERB
ajfa-11077	27	6	panel	panel	NOUN
ajfa-11077	27	7	data	datum	NOUN
ajfa-11077	27	8	approach	approach	NOUN
ajfa-11077	27	9	to	to	PART
ajfa-11077	27	10	test	test	VERB
ajfa-11077	27	11	the	the	DET
ajfa-11077	27	12	tourism	tourism	NOUN
ajfa-11077	27	13	-	-	PUNCT
ajfa-11077	27	14	led	lead	VERB
ajfa-11077	27	15	economic	economic	ADJ
ajfa-11077	27	16	growth	growth	NOUN
ajfa-11077	27	17	hypothesis	hypothesis	NOUN
ajfa-11077	27	18	.	.	PUNCT
ajfa-11077	28	1	he	he	PRON
ajfa-11077	28	2	found	find	VERB
ajfa-11077	28	3	that	that	SCONJ
ajfa-11077	28	4	the	the	DET
ajfa-11077	28	5	tourism	tourism	NOUN
ajfa-11077	28	6	-	-	PUNCT
ajfa-11077	28	7	led	lead	VERB
ajfa-11077	28	8	growth	growth	NOUN
ajfa-11077	28	9	hypothesis	hypothesis	NOUN
ajfa-11077	28	10	is	be	AUX
ajfa-11077	28	11	more	more	ADV
ajfa-11077	28	12	strongly	strongly	ADV
ajfa-11077	28	13	supported	support	VERB
ajfa-11077	28	14	when	when	SCONJ
ajfa-11077	28	15	the	the	DET
ajfa-11077	28	16	time	time	NOUN
ajfa-11077	28	17	-	-	PUNCT
ajfa-11077	28	18	specific	specific	ADJ
ajfa-11077	28	19	effects	effect	NOUN
ajfa-11077	28	20	are	be	AUX
ajfa-11077	28	21	eliminated	eliminate	VERB
ajfa-11077	28	22	,	,	PUNCT
ajfa-11077	28	23	which	which	PRON
ajfa-11077	28	24	will	will	AUX
ajfa-11077	28	25	cause	cause	VERB
ajfa-11077	28	26	a	a	DET
ajfa-11077	28	27	biased	biased	ADJ
ajfa-11077	28	28	estimate	estimate	NOUN
ajfa-11077	28	29	in	in	ADP
ajfa-11077	28	30	the	the	DET
ajfa-11077	28	31	granger	granger	PROPN
ajfa-11077	28	32	causality	causality	PROPN
ajfa-11077	28	33	test	test	NOUN
ajfa-11077	28	34	.	.	PUNCT
ajfa-11077	29	1	according	accord	VERB
ajfa-11077	29	2	to	to	ADP
ajfa-11077	29	3	the	the	DET
ajfa-11077	29	4	data	datum	NOUN
ajfa-11077	29	5	of	of	ADP
ajfa-11077	29	6	the	the	DET
ajfa-11077	29	7	world	world	NOUN
ajfa-11077	29	8	tourism	tourism	NOUN
ajfa-11077	29	9	organization	organization	NOUN
ajfa-11077	29	10	,	,	PUNCT
ajfa-11077	29	11	the	the	DET
ajfa-11077	29	12	number	number	NOUN
ajfa-11077	29	13	of	of	ADP
ajfa-11077	29	14	international	international	ADJ
ajfa-11077	29	15	tourist	tourist	NOUN
ajfa-11077	29	16	visited	visit	VERB
ajfa-11077	29	17	in	in	ADP
ajfa-11077	29	18	taiwan	taiwan	PROPN
ajfa-11077	29	19	in	in	ADP
ajfa-11077	29	20	2012	2012	NUM
ajfa-11077	29	21	was	be	AUX
ajfa-11077	29	22	estimated	estimate	VERB
ajfa-11077	29	23	9.91	9.91	NUM
ajfa-11077	29	24	million	million	NUM
ajfa-11077	29	25	,	,	PUNCT
ajfa-11077	29	26	ranked	rank	VERB
ajfa-11077	29	27	the	the	DET
ajfa-11077	29	28	world	world	NOUN
ajfa-11077	29	29	’s	’s	PART
ajfa-11077	29	30	31	31	NUM
ajfa-11077	29	31	and	and	CCONJ
ajfa-11077	29	32	createdrevenues$14.7	createdrevenues$14.7	PROPN
ajfa-11077	29	33	billion	billion	NUM
ajfa-11077	29	34	.	.	PUNCT
ajfa-11077	30	1	in	in	ADP
ajfa-11077	30	2	2014	2014	NUM
ajfa-11077	30	3	,	,	PUNCT
ajfa-11077	30	4	taiwan	taiwan	PROPN
ajfa-11077	30	5	inbound	inbound	PROPN
ajfa-11077	30	6	tourists	tourist	NOUN
ajfa-11077	30	7	grew	grow	VERB
ajfa-11077	30	8	23.6	23.6	NUM
ajfa-11077	30	9	%	%	NOUN
ajfa-11077	30	10	,	,	PUNCT
ajfa-11077	30	11	ranked	rank	VERB
ajfa-11077	30	12	the	the	DET
ajfa-11077	30	13	2nd	2nd	ADJ
ajfa-11077	30	14	place	place	NOUN
ajfa-11077	30	15	of	of	ADP
ajfa-11077	30	16	the	the	DET
ajfa-11077	30	17	world	world	NOUN
ajfa-11077	30	18	’s	’s	PART
ajfa-11077	30	19	top	top	ADJ
ajfa-11077	30	20	50	50	NUM
ajfa-11077	30	21	tourist	tourist	NOUN
ajfa-11077	30	22	destinations	destination	NOUN
ajfa-11077	30	23	,	,	PUNCT
ajfa-11077	30	24	only	only	ADV
ajfa-11077	30	25	less	less	ADJ
ajfa-11077	30	26	than	than	ADP
ajfa-11077	30	27	of	of	ADP
ajfa-11077	30	28	japan	japan	PROPN
ajfa-11077	30	29	's	's	PART
ajfa-11077	30	30	growth	growth	NOUN
ajfa-11077	30	31	rate	rate	NOUN
ajfa-11077	30	32	29.4%.tourism	29.4%.tourism	NUM
ajfa-11077	30	33	revenue	revenue	NOUN
ajfa-11077	30	34	has	have	VERB
ajfa-11077	30	35	growth	growth	NOUN
ajfa-11077	30	36	18.9	18.9	NUM
ajfa-11077	30	37	%	%	NOUN
ajfa-11077	30	38	,	,	PUNCT
ajfa-11077	30	39	ranked	rank	VERB
ajfa-11077	30	40	the	the	DET
ajfa-11077	30	41	4th	4th	ADJ
ajfa-11077	30	42	place	place	NOUN
ajfa-11077	30	43	in	in	ADP
ajfa-11077	30	44	the	the	DET
ajfa-11077	30	45	world	world	NOUN
ajfa-11077	30	46	’s	’s	PART
ajfa-11077	30	47	top	top	ADJ
ajfa-11077	30	48	50	50	NUM
ajfa-11077	30	49	tourism	tourism	NOUN
ajfa-11077	30	50	asian	asian	ADJ
ajfa-11077	30	51	journal	journal	NOUN
ajfa-11077	30	52	of	of	ADP
ajfa-11077	30	53	finance	finance	PROPN
ajfa-11077	30	54	&	&	CCONJ
ajfa-11077	30	55	accounting	accounting	PROPN
ajfa-11077	30	56	issn	issn	PROPN
ajfa-11077	30	57	1946	1946	NUM
ajfa-11077	30	58	-	-	PUNCT
ajfa-11077	30	59	052x	052x	PROPN
ajfa-11077	30	60	2017	2017	NUM
ajfa-11077	30	61	,	,	PUNCT
ajfa-11077	30	62	vol	vol	NOUN
ajfa-11077	30	63	.	.	NOUN
ajfa-11077	31	1	9	9	NUM
ajfa-11077	31	2	,	,	PUNCT
ajfa-11077	31	3	no	no	INTJ
ajfa-11077	31	4	.	.	NOUN
ajfa-11077	31	5	1	1	NUM
ajfa-11077	31	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	31	7	276	276	NUM
ajfa-11077	31	8	revenue	revenue	NOUN
ajfa-11077	31	9	areas	area	NOUN
ajfa-11077	31	10	.	.	PUNCT
ajfa-11077	32	1	gradually	gradually	ADV
ajfa-11077	32	2	,	,	PUNCT
ajfa-11077	32	3	taiwan	taiwan	PROPN
ajfa-11077	32	4	’s	’s	PART
ajfa-11077	32	5	tourism	tourism	NOUN
ajfa-11077	32	6	has	have	AUX
ajfa-11077	32	7	been	be	AUX
ajfa-11077	32	8	recognized	recognize	VERB
ajfa-11077	32	9	considerable	considerable	ADJ
ajfa-11077	32	10	potential	potential	NOUN
ajfa-11077	32	11	.	.	PUNCT
ajfa-11077	33	1	po	po	PROPN
ajfa-11077	33	2	and	and	CCONJ
ajfa-11077	33	3	huang	huang	PROPN
ajfa-11077	33	4	(	(	PUNCT
ajfa-11077	33	5	2008	2008	NUM
ajfa-11077	33	6	)	)	PUNCT
ajfa-11077	33	7	used	use	VERB
ajfa-11077	33	8	88	88	NUM
ajfa-11077	33	9	cross	cross	ADJ
ajfa-11077	33	10	-	-	ADJ
ajfa-11077	33	11	sectional	sectional	ADJ
ajfa-11077	33	12	countries	country	NOUN
ajfa-11077	33	13	’	'	PUNCT
ajfa-11077	33	14	data	datum	NOUN
ajfa-11077	33	15	to	to	PART
ajfa-11077	33	16	investigate	investigate	VERB
ajfa-11077	33	17	the	the	DET
ajfa-11077	33	18	nexus	nexus	NOUN
ajfa-11077	33	19	between	between	ADP
ajfa-11077	33	20	tourism	tourism	NOUN
ajfa-11077	33	21	development	development	NOUN
ajfa-11077	33	22	and	and	CCONJ
ajfa-11077	33	23	economic	economic	ADJ
ajfa-11077	33	24	growth	growth	NOUN
ajfa-11077	33	25	.	.	PUNCT
ajfa-11077	34	1	they	they	PRON
ajfa-11077	34	2	found	find	VERB
ajfa-11077	34	3	a	a	DET
ajfa-11077	34	4	significantly	significantly	ADV
ajfa-11077	34	5	positive	positive	ADJ
ajfa-11077	34	6	relationship	relationship	NOUN
ajfa-11077	34	7	of	of	ADP
ajfa-11077	34	8	them	they	PRON
ajfa-11077	34	9	when	when	SCONJ
ajfa-11077	34	10	the	the	DET
ajfa-11077	34	11	proportion	proportion	NOUN
ajfa-11077	34	12	of	of	ADP
ajfa-11077	34	13	tourism	tourism	NOUN
ajfa-11077	34	14	receipts	receipt	NOUN
ajfa-11077	34	15	in	in	ADP
ajfa-11077	34	16	gdp	gdp	NOUN
ajfa-11077	34	17	is	be	AUX
ajfa-11077	34	18	either	either	CCONJ
ajfa-11077	34	19	less	less	ADJ
ajfa-11077	34	20	than	than	ADP
ajfa-11077	34	21	4.05	4.05	NUM
ajfa-11077	34	22	%	%	NOUN
ajfa-11077	34	23	or	or	CCONJ
ajfa-11077	34	24	more	more	ADJ
ajfa-11077	34	25	than	than	ADP
ajfa-11077	34	26	4.73	4.73	NUM
ajfa-11077	34	27	%	%	NOUN
ajfa-11077	34	28	,	,	PUNCT
ajfa-11077	34	29	but	but	CCONJ
ajfa-11077	34	30	not	not	PART
ajfa-11077	34	31	when	when	SCONJ
ajfa-11077	34	32	it	it	PRON
ajfa-11077	34	33	lies	lie	VERB
ajfa-11077	34	34	between	between	ADP
ajfa-11077	34	35	these	these	DET
ajfa-11077	34	36	two	two	NUM
ajfa-11077	34	37	ratios	ratio	NOUN
ajfa-11077	34	38	.	.	PUNCT
ajfa-11077	35	1	moreover	moreover	ADV
ajfa-11077	35	2	,	,	PUNCT
ajfa-11077	35	3	chen	chen	PROPN
ajfa-11077	35	4	and	and	CCONJ
ajfa-11077	35	5	song	song	PROPN
ajfa-11077	35	6	zan	zan	PROPN
ajfa-11077	35	7	(	(	PUNCT
ajfa-11077	35	8	2009	2009	NUM
ajfa-11077	35	9	)	)	PUNCT
ajfa-11077	35	10	showed	show	VERB
ajfa-11077	35	11	that	that	SCONJ
ajfa-11077	35	12	the	the	DET
ajfa-11077	35	13	tourism	tourism	NOUN
ajfa-11077	35	14	industry	industry	NOUN
ajfa-11077	35	15	is	be	AUX
ajfa-11077	35	16	greatly	greatly	ADV
ajfa-11077	35	17	contributed	contribute	VERB
ajfa-11077	35	18	to	to	ADP
ajfa-11077	35	19	taiwan	taiwan	PROPN
ajfa-11077	35	20	’s	’s	PART
ajfa-11077	35	21	economy	economy	NOUN
ajfa-11077	35	22	.	.	PUNCT
ajfa-11077	36	1	in	in	ADP
ajfa-11077	36	2	other	other	ADJ
ajfa-11077	36	3	words	word	NOUN
ajfa-11077	36	4	,	,	PUNCT
ajfa-11077	36	5	taiwan	taiwan	PROPN
ajfa-11077	36	6	is	be	AUX
ajfa-11077	36	7	a	a	DET
ajfa-11077	36	8	tourism	tourism	NOUN
ajfa-11077	36	9	-	-	PUNCT
ajfa-11077	36	10	led	lead	VERB
ajfa-11077	36	11	economy	economy	NOUN
ajfa-11077	36	12	.	.	PUNCT
ajfa-11077	37	1	taiwan	taiwan	PROPN
ajfa-11077	37	2	authority	authority	PROPN
ajfa-11077	37	3	has	have	AUX
ajfa-11077	37	4	opened	open	VERB
ajfa-11077	37	5	to	to	ADP
ajfa-11077	37	6	chinese	chinese	ADJ
ajfa-11077	37	7	tourists	tourist	NOUN
ajfa-11077	37	8	since	since	SCONJ
ajfa-11077	37	9	the	the	DET
ajfa-11077	37	10	summer	summer	NOUN
ajfa-11077	37	11	of	of	ADP
ajfa-11077	37	12	2008	2008	NUM
ajfa-11077	37	13	.	.	PUNCT
ajfa-11077	38	1	in	in	ADP
ajfa-11077	38	2	order	order	NOUN
ajfa-11077	38	3	to	to	PART
ajfa-11077	38	4	increase	increase	VERB
ajfa-11077	38	5	the	the	DET
ajfa-11077	38	6	number	number	NOUN
ajfa-11077	38	7	of	of	ADP
ajfa-11077	38	8	tourists	tourist	NOUN
ajfa-11077	38	9	,	,	PUNCT
ajfa-11077	38	10	taiwanese	taiwanese	ADJ
ajfa-11077	38	11	government	government	NOUN
ajfa-11077	38	12	has	have	AUX
ajfa-11077	38	13	undertaken	undertake	VERB
ajfa-11077	38	14	a	a	DET
ajfa-11077	38	15	number	number	NOUN
ajfa-11077	38	16	of	of	ADP
ajfa-11077	38	17	initiatives	initiative	NOUN
ajfa-11077	38	18	to	to	PART
ajfa-11077	38	19	promote	promote	VERB
ajfa-11077	38	20	the	the	DET
ajfa-11077	38	21	tourism	tourism	NOUN
ajfa-11077	38	22	industry	industry	NOUN
ajfa-11077	38	23	,	,	PUNCT
ajfa-11077	38	24	such	such	ADJ
ajfa-11077	38	25	as	as	ADP
ajfa-11077	38	26	doubling	double	VERB
ajfa-11077	38	27	tourist	tourist	NOUN
ajfa-11077	38	28	arrivals	arrival	NOUN
ajfa-11077	38	29	plan	plan	NOUN
ajfa-11077	38	30	(	(	PUNCT
ajfa-11077	38	31	dtap	dtap	NOUN
ajfa-11077	38	32	)	)	PUNCT
ajfa-11077	38	33	introduced	introduce	VERB
ajfa-11077	38	34	in	in	ADP
ajfa-11077	38	35	2002,challenge	2002,challenge	PROPN
ajfa-11077	38	36	2008	2008	NUM
ajfa-11077	38	37	,	,	PUNCT
ajfa-11077	38	38	taiwan	taiwan	PROPN
ajfa-11077	38	39	’s	’s	PART
ajfa-11077	38	40	2015	2015	NUM
ajfa-11077	38	41	-	-	SYM
ajfa-11077	38	42	2018	2018	NUM
ajfa-11077	38	43	tourism	tourism	NOUN
ajfa-11077	38	44	action	action	NOUN
ajfa-11077	38	45	plan	plan	NOUN
ajfa-11077	38	46	,	,	PUNCT
ajfa-11077	38	47	mid	mid	ADJ
ajfa-11077	38	48	-	-	ADJ
ajfa-11077	38	49	term	term	NOUN
ajfa-11077	38	50	plan	plan	NOUN
ajfa-11077	38	51	for	for	ADP
ajfa-11077	38	52	construction	construction	NOUN
ajfa-11077	38	53	of	of	ADP
ajfa-11077	38	54	major	major	ADJ
ajfa-11077	38	55	scenic	scenic	ADJ
ajfa-11077	38	56	sites(2012	sites(2012	NOUN
ajfa-11077	38	57	-	-	PUNCT
ajfa-11077	38	58	2015),project	2015),project	NUM
ajfa-11077	38	59	vanguard	vanguard	NOUN
ajfa-11077	38	60	for	for	ADP
ajfa-11077	38	61	excellence	excellence	NOUN
ajfa-11077	38	62	in	in	ADP
ajfa-11077	38	63	tourism	tourism	NOUN
ajfa-11077	38	64	,	,	PUNCT
ajfa-11077	38	65	and	and	CCONJ
ajfa-11077	38	66	tour	tour	VERB
ajfa-11077	38	67	taiwan	taiwan	PROPN
ajfa-11077	38	68	and	and	CCONJ
ajfa-11077	38	69	experience	experience	VERB
ajfa-11077	38	70	the	the	DET
ajfa-11077	38	71	centennial	centennial	NOUN
ajfa-11077	38	72	.	.	PUNCT
ajfa-11077	39	1	according	accord	VERB
ajfa-11077	39	2	to	to	ADP
ajfa-11077	39	3	taiwan	taiwan	PROPN
ajfa-11077	39	4	tourism	tourism	NOUN
ajfa-11077	39	5	bureau	bureau	NOUN
ajfa-11077	39	6	,	,	PUNCT
ajfa-11077	39	7	these	these	DET
ajfa-11077	39	8	plans	plan	NOUN
ajfa-11077	39	9	are	be	AUX
ajfa-11077	39	10	proposed	propose	VERB
ajfa-11077	39	11	to	to	PART
ajfa-11077	39	12	deepen	deepen	VERB
ajfa-11077	39	13	the	the	DET
ajfa-11077	39	14	“	"	PUNCT
ajfa-11077	39	15	time	time	NOUN
ajfa-11077	39	16	for	for	ADP
ajfa-11077	39	17	taiwan	taiwan	PROPN
ajfa-11077	39	18	”	"	PUNCT
ajfa-11077	39	19	core	core	NOUN
ajfa-11077	39	20	promotional	promotional	ADJ
ajfa-11077	39	21	programs	program	NOUN
ajfa-11077	39	22	,	,	PUNCT
ajfa-11077	39	23	implement	implement	VERB
ajfa-11077	39	24	“	"	PUNCT
ajfa-11077	39	25	quality	quality	NOUN
ajfa-11077	39	26	,	,	PUNCT
ajfa-11077	39	27	uniqueness	uniqueness	NOUN
ajfa-11077	39	28	,	,	PUNCT
ajfa-11077	39	29	intelligence	intelligence	NOUN
ajfa-11077	39	30	,	,	PUNCT
ajfa-11077	39	31	and	and	CCONJ
ajfa-11077	39	32	sustainability	sustainability	NOUN
ajfa-11077	39	33	”	"	PUNCT
ajfa-11077	39	34	as	as	ADP
ajfa-11077	39	35	strategies	strategy	NOUN
ajfa-11077	39	36	toward	toward	ADP
ajfa-11077	39	37	the	the	DET
ajfa-11077	39	38	goals	goal	NOUN
ajfa-11077	39	39	of	of	ADP
ajfa-11077	39	40	“	"	PUNCT
ajfa-11077	39	41	development	development	NOUN
ajfa-11077	39	42	of	of	ADP
ajfa-11077	39	43	international	international	ADJ
ajfa-11077	39	44	tourism	tourism	NOUN
ajfa-11077	39	45	,	,	PUNCT
ajfa-11077	39	46	enhancement	enhancement	NOUN
ajfa-11077	39	47	of	of	ADP
ajfa-11077	39	48	domestic	domestic	ADJ
ajfa-11077	39	49	travel	travel	NOUN
ajfa-11077	39	50	quality	quality	NOUN
ajfa-11077	39	51	,	,	PUNCT
ajfa-11077	39	52	and	and	CCONJ
ajfa-11077	39	53	increased	increase	VERB
ajfa-11077	39	54	foreign	foreign	ADJ
ajfa-11077	39	55	-	-	PUNCT
ajfa-11077	39	56	exchange	exchange	NOUN
ajfa-11077	39	57	revenues	revenue	NOUN
ajfa-11077	39	58	”	"	PUNCT
ajfa-11077	39	59	to	to	PART
ajfa-11077	39	60	bring	bring	VERB
ajfa-11077	39	61	taiwan	taiwan	PROPN
ajfa-11077	39	62	’s	’s	PART
ajfa-11077	39	63	new	new	ADJ
ajfa-11077	39	64	tourism	tourism	NOUN
ajfa-11077	39	65	allure	allure	NOUN
ajfa-11077	39	66	to	to	ADP
ajfa-11077	39	67	the	the	DET
ajfa-11077	39	68	attention	attention	NOUN
ajfa-11077	39	69	of	of	ADP
ajfa-11077	39	70	the	the	DET
ajfa-11077	39	71	world1	world1	PROPN
ajfa-11077	39	72	.	.	PUNCT
ajfa-11077	40	1	portnov	portnov	NOUN
ajfa-11077	40	2	and	and	CCONJ
ajfa-11077	40	3	li	li	PROPN
ajfa-11077	40	4	(	(	PUNCT
ajfa-11077	40	5	2013	2013	NUM
ajfa-11077	40	6	)	)	PUNCT
ajfa-11077	40	7	suggested	suggest	VERB
ajfa-11077	40	8	that	that	SCONJ
ajfa-11077	40	9	in	in	ADP
ajfa-11077	40	10	order	order	NOUN
ajfa-11077	40	11	to	to	PART
ajfa-11077	40	12	achieve	achieve	VERB
ajfa-11077	40	13	a	a	DET
ajfa-11077	40	14	greater	great	ADJ
ajfa-11077	40	15	stability	stability	NOUN
ajfa-11077	40	16	in	in	ADP
ajfa-11077	40	17	the	the	DET
ajfa-11077	40	18	number	number	NOUN
ajfa-11077	40	19	of	of	ADP
ajfa-11077	40	20	inbound	inbound	ADJ
ajfa-11077	40	21	tourist	tourist	NOUN
ajfa-11077	40	22	arrivals	arrival	NOUN
ajfa-11077	40	23	,	,	PUNCT
ajfa-11077	40	24	taiwan	taiwan	PROPN
ajfa-11077	40	25	should	should	AUX
ajfa-11077	40	26	diversify	diversify	VERB
ajfa-11077	40	27	sources	source	NOUN
ajfa-11077	40	28	of	of	ADP
ajfa-11077	40	29	their	their	PRON
ajfa-11077	40	30	inbound	inbound	ADJ
ajfa-11077	40	31	tourism	tourism	NOUN
ajfa-11077	40	32	,	,	PUNCT
ajfa-11077	40	33	by	by	ADP
ajfa-11077	40	34	giving	give	VERB
ajfa-11077	40	35	priority	priority	NOUN
ajfa-11077	40	36	to	to	ADP
ajfa-11077	40	37	neighboring	neighboring	NOUN
ajfa-11077	40	38	countries	country	NOUN
ajfa-11077	40	39	with	with	ADP
ajfa-11077	40	40	relatively	relatively	ADV
ajfa-11077	40	41	larger	large	ADJ
ajfa-11077	40	42	,	,	PUNCT
ajfa-11077	40	43	more	more	ADV
ajfa-11077	40	44	productive	productive	ADJ
ajfa-11077	40	45	,	,	PUNCT
ajfa-11077	40	46	and	and	CCONJ
ajfa-11077	40	47	more	more	ADV
ajfa-11077	40	48	steadily	steadily	ADV
ajfa-11077	40	49	growing	grow	VERB
ajfa-11077	40	50	economies	economy	NOUN
ajfa-11077	40	51	,	,	PUNCT
ajfa-11077	40	52	such	such	ADJ
ajfa-11077	40	53	as	as	ADP
ajfa-11077	40	54	china	china	PROPN
ajfa-11077	40	55	,	,	PUNCT
ajfa-11077	40	56	malaysia	malaysia	PROPN
ajfa-11077	40	57	,	,	PUNCT
ajfa-11077	40	58	or	or	CCONJ
ajfa-11077	40	59	the	the	DET
ajfa-11077	40	60	other	other	ADJ
ajfa-11077	40	61	emerging	emerge	VERB
ajfa-11077	40	62	countries	country	NOUN
ajfa-11077	40	63	.	.	PUNCT
ajfa-11077	41	1	according	accord	VERB
ajfa-11077	41	2	to	to	ADP
ajfa-11077	41	3	taiwan	taiwan	PROPN
ajfa-11077	41	4	tourism	tourism	NOUN
ajfa-11077	41	5	bureau	bureau	NOUN
ajfa-11077	41	6	,	,	PUNCT
ajfa-11077	41	7	the	the	DET
ajfa-11077	41	8	inbound	inbound	ADJ
ajfa-11077	41	9	number	number	NOUN
ajfa-11077	41	10	of	of	ADP
ajfa-11077	41	11	tourists	tourist	NOUN
ajfa-11077	41	12	was	be	AUX
ajfa-11077	41	13	2,624,037	2,624,037	NUM
ajfa-11077	41	14	in	in	ADP
ajfa-11077	41	15	2000	2000	NUM
ajfa-11077	41	16	,	,	PUNCT
ajfa-11077	41	17	9,910,204	9,910,204	NUM
ajfa-11077	41	18	in	in	ADP
ajfa-11077	41	19	2014	2014	NUM
ajfa-11077	41	20	and	and	CCONJ
ajfa-11077	41	21	over	over	ADP
ajfa-11077	41	22	10	10	NUM
ajfa-11077	41	23	million	million	NUM
ajfa-11077	41	24	in	in	ADP
ajfa-11077	41	25	the	the	DET
ajfa-11077	41	26	end	end	NOUN
ajfa-11077	41	27	of	of	ADP
ajfa-11077	41	28	2015.this	2015.this	PRON
ajfa-11077	41	29	tendency	tendency	NOUN
ajfa-11077	41	30	shows	show	VERB
ajfa-11077	41	31	the	the	DET
ajfa-11077	41	32	visibility	visibility	NOUN
ajfa-11077	41	33	and	and	CCONJ
ajfa-11077	41	34	attractiveness	attractiveness	NOUN
ajfa-11077	41	35	of	of	ADP
ajfa-11077	41	36	international	international	ADJ
ajfa-11077	41	37	tourists	tourist	NOUN
ajfa-11077	41	38	traveling	travel	VERB
ajfa-11077	41	39	to	to	ADP
ajfa-11077	41	40	taiwan	taiwan	PROPN
ajfa-11077	41	41	.	.	PUNCT
ajfa-11077	42	1	moreover	moreover	ADV
ajfa-11077	42	2	,	,	PUNCT
ajfa-11077	42	3	taiwan	taiwan	PROPN
ajfa-11077	42	4	’s	’s	PART
ajfa-11077	42	5	foreign	foreign	ADJ
ajfa-11077	42	6	exchange	exchange	NOUN
ajfa-11077	42	7	earnings	earning	NOUN
ajfa-11077	42	8	generated	generate	VERB
ajfa-11077	42	9	by	by	ADP
ajfa-11077	42	10	tourism	tourism	NOUN
ajfa-11077	42	11	leaped	leap	VERB
ajfa-11077	42	12	from	from	ADP
ajfa-11077	42	13	$	$	SYM
ajfa-11077	42	14	3,738	3,738	NUM
ajfa-11077	42	15	million	million	NUM
ajfa-11077	42	16	in	in	ADP
ajfa-11077	42	17	2000	2000	NUM
ajfa-11077	42	18	to	to	ADP
ajfa-11077	42	19	$	$	SYM
ajfa-11077	42	20	14,615	14,615	NUM
ajfa-11077	42	21	million	million	NUM
ajfa-11077	42	22	in	in	ADP
ajfa-11077	42	23	2014	2014	NUM
ajfa-11077	42	24	,	,	PUNCT
ajfa-11077	42	25	which	which	PRON
ajfa-11077	42	26	its	its	PRON
ajfa-11077	42	27	share	share	NOUN
ajfa-11077	42	28	in	in	ADP
ajfa-11077	42	29	total	total	ADJ
ajfa-11077	42	30	gdp	gdp	NOUN
ajfa-11077	42	31	reached	reach	VERB
ajfa-11077	42	32	2.76	2.76	NUM
ajfa-11077	42	33	%	%	NOUN
ajfa-11077	42	34	from	from	ADP
ajfa-11077	42	35	1.13%.it	1.13%.it	NUM
ajfa-11077	42	36	shows	show	NOUN
ajfa-11077	42	37	that	that	SCONJ
ajfa-11077	42	38	taiwan	taiwan	PROPN
ajfa-11077	42	39	tourism	tourism	NOUN
ajfa-11077	42	40	industry	industry	NOUN
ajfa-11077	42	41	earns	earn	VERB
ajfa-11077	42	42	a	a	DET
ajfa-11077	42	43	large	large	ADJ
ajfa-11077	42	44	part	part	NOUN
ajfa-11077	42	45	of	of	ADP
ajfa-11077	42	46	foreign	foreign	ADJ
ajfa-11077	42	47	exchange	exchange	NOUN
ajfa-11077	42	48	earnings	earning	NOUN
ajfa-11077	42	49	.	.	PUNCT
ajfa-11077	43	1	the	the	DET
ajfa-11077	43	2	fluctuation	fluctuation	NOUN
ajfa-11077	43	3	in	in	ADP
ajfa-11077	43	4	exchange	exchange	NOUN
ajfa-11077	43	5	rates	rate	NOUN
ajfa-11077	43	6	for	for	ADP
ajfa-11077	43	7	taiwan	taiwan	PROPN
ajfa-11077	43	8	’s	’s	PART
ajfa-11077	43	9	tourism	tourism	NOUN
ajfa-11077	43	10	industry	industry	NOUN
ajfa-11077	43	11	is	be	AUX
ajfa-11077	43	12	an	an	DET
ajfa-11077	43	13	important	important	ADJ
ajfa-11077	43	14	factor	factor	NOUN
ajfa-11077	43	15	for	for	ADP
ajfa-11077	43	16	taiwan	taiwan	PROPN
ajfa-11077	43	17	’s	’s	PART
ajfa-11077	43	18	overall	overall	ADJ
ajfa-11077	43	19	economic	economic	ADJ
ajfa-11077	43	20	development	development	NOUN
ajfa-11077	43	21	.	.	PUNCT
ajfa-11077	44	1	the	the	DET
ajfa-11077	44	2	recent	recent	ADJ
ajfa-11077	44	3	ten	ten	NUM
ajfa-11077	44	4	-	-	PUNCT
ajfa-11077	44	5	year	year	NOUN
ajfa-11077	44	6	annual	annual	ADJ
ajfa-11077	44	7	revenues	revenue	NOUN
ajfa-11077	44	8	generated	generate	VERB
ajfa-11077	44	9	from	from	ADP
ajfa-11077	44	10	tourism	tourism	NOUN
ajfa-11077	44	11	,	,	PUNCT
ajfa-11077	44	12	foreign	foreign	ADJ
ajfa-11077	44	13	exchange	exchange	NOUN
ajfa-11077	44	14	and	and	CCONJ
ajfa-11077	44	15	domestic	domestic	ADJ
ajfa-11077	44	16	tourism	tourism	NOUN
ajfa-11077	44	17	are	be	AUX
ajfa-11077	44	18	shown	show	VERB
ajfa-11077	44	19	in	in	ADP
ajfa-11077	44	20	figure	figure	NOUN
ajfa-11077	44	21	1	1	NUM
ajfa-11077	44	22	.	.	PUNCT
ajfa-11077	45	1	the	the	DET
ajfa-11077	45	2	highest	high	ADJ
ajfa-11077	45	3	line	line	NOUN
ajfa-11077	45	4	is	be	AUX
ajfa-11077	45	5	the	the	DET
ajfa-11077	45	6	tourism	tourism	NOUN
ajfa-11077	45	7	revenue	revenue	NOUN
ajfa-11077	45	8	(	(	PUNCT
ajfa-11077	45	9	in	in	ADP
ajfa-11077	45	10	red	red	NOUN
ajfa-11077	45	11	)	)	PUNCT
ajfa-11077	45	12	,	,	PUNCT
ajfa-11077	45	13	which	which	PRON
ajfa-11077	45	14	grows	grow	VERB
ajfa-11077	45	15	rapidly	rapidly	ADV
ajfa-11077	45	16	in	in	ADP
ajfa-11077	45	17	2009	2009	NUM
ajfa-11077	45	18	due	due	ADP
ajfa-11077	45	19	to	to	ADP
ajfa-11077	45	20	the	the	DET
ajfa-11077	45	21	effect	effect	NOUN
ajfa-11077	45	22	of	of	ADP
ajfa-11077	45	23	opening	opening	NOUN
ajfa-11077	45	24	of	of	ADP
ajfa-11077	45	25	chinese	chinese	ADJ
ajfa-11077	45	26	tourists	tourist	NOUN
ajfa-11077	45	27	to	to	PART
ajfa-11077	45	28	visit	visit	VERB
ajfa-11077	45	29	taiwan	taiwan	PROPN
ajfa-11077	45	30	.	.	PUNCT
ajfa-11077	46	1	the	the	DET
ajfa-11077	46	2	lowest	low	ADJ
ajfa-11077	46	3	line	line	NOUN
ajfa-11077	46	4	is	be	AUX
ajfa-11077	46	5	the	the	DET
ajfa-11077	46	6	domestic	domestic	ADJ
ajfa-11077	46	7	tourism	tourism	NOUN
ajfa-11077	46	8	revenue	revenue	NOUN
ajfa-11077	46	9	(	(	PUNCT
ajfa-11077	46	10	in	in	ADP
ajfa-11077	46	11	purple	purple	NOUN
ajfa-11077	46	12	)	)	PUNCT
ajfa-11077	46	13	,	,	PUNCT
ajfa-11077	46	14	which	which	PRON
ajfa-11077	46	15	attains	attain	VERB
ajfa-11077	46	16	the	the	DET
ajfa-11077	46	17	maximum	maximum	ADJ
ajfa-11077	46	18	(	(	PUNCT
ajfa-11077	46	19	331	331	NUM
ajfa-11077	46	20	billion	billion	NUM
ajfa-11077	46	21	of	of	ADP
ajfa-11077	46	22	nt	nt	PRON
ajfa-11077	46	23	dollars	dollar	NOUN
ajfa-11077	46	24	)	)	PUNCT
ajfa-11077	46	25	in	in	ADP
ajfa-11077	46	26	2011	2011	NUM
ajfa-11077	46	27	and	and	CCONJ
ajfa-11077	46	28	declines	decline	VERB
ajfa-11077	46	29	in	in	ADP
ajfa-11077	46	30	the	the	DET
ajfa-11077	46	31	following	following	ADJ
ajfa-11077	46	32	years	year	NOUN
ajfa-11077	46	33	.	.	PUNCT
ajfa-11077	47	1	the	the	DET
ajfa-11077	47	2	foreign	foreign	ADJ
ajfa-11077	47	3	exchange	exchange	NOUN
ajfa-11077	47	4	earnings	earning	NOUN
ajfa-11077	47	5	(	(	PUNCT
ajfa-11077	47	6	in	in	ADP
ajfa-11077	47	7	green	green	NOUN
ajfa-11077	47	8	)	)	PUNCT
ajfa-11077	47	9	smoothly	smoothly	ADV
ajfa-11077	47	10	increases	increase	VERB
ajfa-11077	47	11	in	in	ADP
ajfa-11077	47	12	years	year	NOUN
ajfa-11077	47	13	.	.	PUNCT
ajfa-11077	48	1	1http://admin.taiwan.net.tw/public/public_en.aspx?no=6	1http://admin.taiwan.net.tw/public/public_en.aspx?no=6	NUM
ajfa-11077	48	2	.	.	PUNCT
ajfa-11077	48	3	asian	asian	ADJ
ajfa-11077	48	4	journal	journal	PROPN
ajfa-11077	48	5	of	of	ADP
ajfa-11077	48	6	finance	finance	PROPN
ajfa-11077	48	7	&	&	CCONJ
ajfa-11077	48	8	accounting	accounting	PROPN
ajfa-11077	48	9	issn	issn	PROPN
ajfa-11077	48	10	1946	1946	NUM
ajfa-11077	48	11	-	-	PUNCT
ajfa-11077	48	12	052x	052x	PROPN
ajfa-11077	48	13	2017	2017	NUM
ajfa-11077	48	14	,	,	PUNCT
ajfa-11077	48	15	vol	vol	NOUN
ajfa-11077	48	16	.	.	NOUN
ajfa-11077	48	17	9	9	NUM
ajfa-11077	48	18	,	,	PUNCT
ajfa-11077	48	19	no	no	INTJ
ajfa-11077	48	20	.	.	NOUN
ajfa-11077	48	21	1	1	NUM
ajfa-11077	48	22	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	48	23	277	277	NUM
ajfa-11077	48	24	figure	figure	NOUN
ajfa-11077	48	25	1	1	NUM
ajfa-11077	48	26	.	.	PUNCT
ajfa-11077	48	27	revenues	revenue	NOUN
ajfa-11077	48	28	generate	generate	VERB
ajfa-11077	48	29	from	from	ADP
ajfa-11077	48	30	tourism	tourism	NOUN
ajfa-11077	48	31	and	and	CCONJ
ajfa-11077	48	32	foreign	foreign	ADJ
ajfa-11077	48	33	exchange	exchange	NOUN
ajfa-11077	48	34	source	source	NOUN
ajfa-11077	48	35	:	:	PUNCT
ajfa-11077	48	36	tourism	tourism	NOUN
ajfa-11077	48	37	bureau	bureau	NOUN
ajfa-11077	48	38	,	,	PUNCT
ajfa-11077	48	39	m.o.t.c	m.o.t.c	PROPN
ajfa-11077	48	40	.	.	PROPN
ajfa-11077	48	41	,	,	PUNCT
ajfa-11077	48	42	republic	republic	PROPN
ajfa-11077	48	43	of	of	ADP
ajfa-11077	48	44	china	china	PROPN
ajfa-11077	48	45	(	(	PUNCT
ajfa-11077	48	46	taiwan	taiwan	PROPN
ajfa-11077	48	47	)	)	PUNCT
ajfa-11077	48	48	.	.	PUNCT
ajfa-11077	49	1	taiwan	taiwan	PROPN
ajfa-11077	49	2	’s	’s	PART
ajfa-11077	49	3	tourism	tourism	NOUN
ajfa-11077	49	4	revenues	revenue	NOUN
ajfa-11077	49	5	have	have	AUX
ajfa-11077	49	6	increased	increase	VERB
ajfa-11077	49	7	in	in	ADP
ajfa-11077	49	8	recent	recent	ADJ
ajfa-11077	49	9	years	year	NOUN
ajfa-11077	49	10	.	.	PUNCT
ajfa-11077	50	1	the	the	DET
ajfa-11077	50	2	hotel	hotel	NOUN
ajfa-11077	50	3	industry	industry	NOUN
ajfa-11077	50	4	plays	play	VERB
ajfa-11077	50	5	an	an	DET
ajfa-11077	50	6	important	important	ADJ
ajfa-11077	50	7	role	role	NOUN
ajfa-11077	50	8	in	in	ADP
ajfa-11077	50	9	the	the	DET
ajfa-11077	50	10	tourism	tourism	NOUN
ajfa-11077	50	11	industry	industry	NOUN
ajfa-11077	50	12	,	,	PUNCT
ajfa-11077	50	13	resulting	result	VERB
ajfa-11077	50	14	in	in	ADP
ajfa-11077	50	15	a	a	DET
ajfa-11077	50	16	huge	huge	ADJ
ajfa-11077	50	17	source	source	NOUN
ajfa-11077	50	18	of	of	ADP
ajfa-11077	50	19	foreign	foreign	ADJ
ajfa-11077	50	20	exchange	exchange	NOUN
ajfa-11077	50	21	earnings	earning	NOUN
ajfa-11077	50	22	.	.	PUNCT
ajfa-11077	51	1	among	among	ADP
ajfa-11077	51	2	the	the	DET
ajfa-11077	51	3	tourists	tourist	NOUN
ajfa-11077	51	4	,	,	PUNCT
ajfa-11077	51	5	the	the	DET
ajfa-11077	51	6	number	number	NOUN
ajfa-11077	51	7	of	of	ADP
ajfa-11077	51	8	chinese	chinese	ADJ
ajfa-11077	51	9	tourists	tourist	NOUN
ajfa-11077	51	10	accounted	account	VERB
ajfa-11077	51	11	for	for	ADP
ajfa-11077	51	12	the	the	DET
ajfa-11077	51	13	largest	large	ADJ
ajfa-11077	51	14	part	part	NOUN
ajfa-11077	51	15	of	of	ADP
ajfa-11077	51	16	all	all	PRON
ajfa-11077	51	17	,	,	PUNCT
ajfa-11077	51	18	followed	follow	VERB
ajfa-11077	51	19	by	by	ADP
ajfa-11077	51	20	japanese	japanese	PROPN
ajfa-11077	51	21	,	,	PUNCT
ajfa-11077	51	22	european	european	PROPN
ajfa-11077	51	23	and	and	CCONJ
ajfa-11077	51	24	the	the	DET
ajfa-11077	51	25	united	united	PROPN
ajfa-11077	51	26	states	states	PROPN
ajfa-11077	51	27	.	.	PUNCT
ajfa-11077	52	1	bilateral	bilateral	ADJ
ajfa-11077	52	2	trade	trade	NOUN
ajfa-11077	52	3	between	between	ADP
ajfa-11077	52	4	taiwan	taiwan	PROPN
ajfa-11077	52	5	and	and	CCONJ
ajfa-11077	52	6	china	china	PROPN
ajfa-11077	52	7	,	,	PUNCT
ajfa-11077	52	8	japan	japan	PROPN
ajfa-11077	52	9	,	,	PUNCT
ajfa-11077	52	10	europe	europe	PROPN
ajfa-11077	52	11	and	and	CCONJ
ajfa-11077	52	12	the	the	DET
ajfa-11077	52	13	united	united	PROPN
ajfa-11077	52	14	states	states	PROPN
ajfa-11077	52	15	,	,	PUNCT
ajfa-11077	52	16	respectively	respectively	ADV
ajfa-11077	52	17	,	,	PUNCT
ajfa-11077	52	18	is	be	AUX
ajfa-11077	52	19	not	not	PART
ajfa-11077	52	20	only	only	ADV
ajfa-11077	52	21	very	very	ADV
ajfa-11077	52	22	close	close	ADJ
ajfa-11077	52	23	,	,	PUNCT
ajfa-11077	52	24	but	but	CCONJ
ajfa-11077	52	25	also	also	ADV
ajfa-11077	52	26	represents	represent	VERB
ajfa-11077	52	27	the	the	DET
ajfa-11077	52	28	effect	effect	NOUN
ajfa-11077	52	29	of	of	ADP
ajfa-11077	52	30	the	the	DET
ajfa-11077	52	31	changes	change	NOUN
ajfa-11077	52	32	in	in	ADP
ajfa-11077	52	33	exchange	exchange	NOUN
ajfa-11077	52	34	rates	rate	NOUN
ajfa-11077	52	35	.	.	PUNCT
ajfa-11077	53	1	the	the	DET
ajfa-11077	53	2	number	number	NOUN
ajfa-11077	53	3	of	of	ADP
ajfa-11077	53	4	tourists	tourist	NOUN
ajfa-11077	53	5	traveling	travel	VERB
ajfa-11077	53	6	to	to	ADP
ajfa-11077	53	7	taiwan	taiwan	PROPN
ajfa-11077	53	8	contributes	contribute	VERB
ajfa-11077	53	9	the	the	DET
ajfa-11077	53	10	foreign	foreign	ADJ
ajfa-11077	53	11	exchange	exchange	NOUN
ajfa-11077	53	12	earnings	earning	NOUN
ajfa-11077	53	13	.	.	PUNCT
ajfa-11077	54	1	pritamani	pritamani	PROPN
ajfa-11077	54	2	,	,	PUNCT
ajfa-11077	54	3	shome	shome	VERB
ajfa-11077	54	4	and	and	CCONJ
ajfa-11077	54	5	singal	singal	ADJ
ajfa-11077	54	6	(	(	PUNCT
ajfa-11077	54	7	2005	2005	NUM
ajfa-11077	54	8	)	)	PUNCT
ajfa-11077	54	9	divided	divide	VERB
ajfa-11077	54	10	the	the	DET
ajfa-11077	54	11	u.s	u.s	PROPN
ajfa-11077	54	12	.	.	PROPN
ajfa-11077	54	13	companies	company	NOUN
ajfa-11077	54	14	into	into	ADP
ajfa-11077	54	15	five	five	NUM
ajfa-11077	54	16	categories	category	NOUN
ajfa-11077	54	17	and	and	CCONJ
ajfa-11077	54	18	found	find	VERB
ajfa-11077	54	19	that	that	SCONJ
ajfa-11077	54	20	neither	neither	CCONJ
ajfa-11077	54	21	exporters	exporter	NOUN
ajfa-11077	54	22	nor	nor	CCONJ
ajfa-11077	54	23	multinational	multinational	ADJ
ajfa-11077	54	24	firms	firm	NOUN
ajfa-11077	54	25	were	be	AUX
ajfa-11077	54	26	the	the	DET
ajfa-11077	54	27	most	most	ADV
ajfa-11077	54	28	affected	affect	VERB
ajfa-11077	54	29	by	by	ADP
ajfa-11077	54	30	changes	change	NOUN
ajfa-11077	54	31	in	in	ADP
ajfa-11077	54	32	exchange	exchange	NOUN
ajfa-11077	54	33	rates	rate	NOUN
ajfa-11077	54	34	.	.	PUNCT
ajfa-11077	55	1	the	the	DET
ajfa-11077	55	2	firms	firm	NOUN
ajfa-11077	55	3	that	that	PRON
ajfa-11077	55	4	suffered	suffer	VERB
ajfa-11077	55	5	most	most	ADV
ajfa-11077	55	6	from	from	ADP
ajfa-11077	55	7	exchange	exchange	NOUN
ajfa-11077	55	8	rate	rate	NOUN
ajfa-11077	55	9	fluctuations	fluctuation	NOUN
ajfa-11077	55	10	were	be	AUX
ajfa-11077	55	11	wholly	wholly	ADV
ajfa-11077	55	12	domestic	domestic	ADJ
ajfa-11077	55	13	u.s	u.s	PROPN
ajfa-11077	55	14	.	.	PROPN
ajfa-11077	55	15	companies	company	NOUN
ajfa-11077	55	16	facing	face	VERB
ajfa-11077	55	17	foreign	foreign	ADJ
ajfa-11077	55	18	competition	competition	NOUN
ajfa-11077	55	19	.	.	PUNCT
ajfa-11077	56	1	taiwan	taiwan	PROPN
ajfa-11077	56	2	’s	’s	PART
ajfa-11077	56	3	hotel	hotel	NOUN
ajfa-11077	56	4	industry	industry	NOUN
ajfa-11077	56	5	has	have	VERB
ajfa-11077	56	6	the	the	DET
ajfa-11077	56	7	same	same	ADJ
ajfa-11077	56	8	situation	situation	NOUN
ajfa-11077	56	9	.	.	PUNCT
ajfa-11077	57	1	based	base	VERB
ajfa-11077	57	2	on	on	ADP
ajfa-11077	57	3	the	the	DET
ajfa-11077	57	4	above	above	ADJ
ajfa-11077	57	5	point	point	NOUN
ajfa-11077	57	6	of	of	ADP
ajfa-11077	57	7	view	view	NOUN
ajfa-11077	57	8	,	,	PUNCT
ajfa-11077	57	9	we	we	PRON
ajfa-11077	57	10	mainly	mainly	ADV
ajfa-11077	57	11	discuss	discuss	VERB
ajfa-11077	57	12	taiwan	taiwan	PROPN
ajfa-11077	57	13	’s	’s	PART
ajfa-11077	57	14	hotel	hotel	NOUN
ajfa-11077	57	15	industry	industry	NOUN
ajfa-11077	57	16	for	for	ADP
ajfa-11077	57	17	exposure	exposure	NOUN
ajfa-11077	57	18	to	to	ADP
ajfa-11077	57	19	foreign	foreign	ADJ
ajfa-11077	57	20	exchange	exchange	NOUN
ajfa-11077	57	21	fluctuations	fluctuation	NOUN
ajfa-11077	57	22	and	and	CCONJ
ajfa-11077	57	23	corporate	corporate	ADJ
ajfa-11077	57	24	risk	risk	NOUN
ajfa-11077	57	25	management	management	NOUN
ajfa-11077	57	26	.	.	PUNCT
ajfa-11077	58	1	through	through	ADP
ajfa-11077	58	2	our	our	PRON
ajfa-11077	58	3	study	study	NOUN
ajfa-11077	58	4	,	,	PUNCT
ajfa-11077	58	5	it	it	PRON
ajfa-11077	58	6	suggests	suggest	VERB
ajfa-11077	58	7	the	the	DET
ajfa-11077	58	8	hedging	hedging	NOUN
ajfa-11077	58	9	strategies	strategy	NOUN
ajfa-11077	58	10	to	to	ADP
ajfa-11077	58	11	the	the	DET
ajfa-11077	58	12	decision	decision	NOUN
ajfa-11077	58	13	-	-	PUNCT
ajfa-11077	58	14	makers	maker	NOUN
ajfa-11077	58	15	of	of	ADP
ajfa-11077	58	16	firms	firm	NOUN
ajfa-11077	58	17	and	and	CCONJ
ajfa-11077	58	18	then	then	ADV
ajfa-11077	58	19	to	to	PART
ajfa-11077	58	20	enhance	enhance	VERB
ajfa-11077	58	21	taiwan	taiwan	PROPN
ajfa-11077	58	22	’s	’s	PART
ajfa-11077	58	23	hotel	hotel	NOUN
ajfa-11077	58	24	industry	industry	NOUN
ajfa-11077	58	25	’s	’s	PART
ajfa-11077	58	26	risk	risk	NOUN
ajfa-11077	58	27	management	management	NOUN
ajfa-11077	58	28	.	.	PUNCT
ajfa-11077	59	1	the	the	DET
ajfa-11077	59	2	structure	structure	NOUN
ajfa-11077	59	3	of	of	ADP
ajfa-11077	59	4	this	this	DET
ajfa-11077	59	5	study	study	NOUN
ajfa-11077	59	6	is	be	AUX
ajfa-11077	59	7	as	as	SCONJ
ajfa-11077	59	8	follows	follow	VERB
ajfa-11077	59	9	:	:	PUNCT
ajfa-11077	59	10	section	section	NOUN
ajfa-11077	59	11	2	2	NUM
ajfa-11077	59	12	is	be	AUX
ajfa-11077	59	13	literature	literature	NOUN
ajfa-11077	59	14	review	review	NOUN
ajfa-11077	59	15	and	and	CCONJ
ajfa-11077	59	16	methodologies	methodology	NOUN
ajfa-11077	59	17	will	will	AUX
ajfa-11077	59	18	be	be	AUX
ajfa-11077	59	19	discussed	discuss	VERB
ajfa-11077	59	20	in	in	ADP
ajfa-11077	59	21	section	section	NOUN
ajfa-11077	59	22	3	3	NUM
ajfa-11077	59	23	;	;	PUNCT
ajfa-11077	59	24	data	datum	NOUN
ajfa-11077	59	25	collection	collection	NOUN
ajfa-11077	59	26	and	and	CCONJ
ajfa-11077	59	27	its	its	PRON
ajfa-11077	59	28	statistical	statistical	ADJ
ajfa-11077	59	29	descriptions	description	NOUN
ajfa-11077	59	30	are	be	AUX
ajfa-11077	59	31	in	in	ADP
ajfa-11077	59	32	section	section	NOUN
ajfa-11077	59	33	4	4	NUM
ajfa-11077	59	34	.	.	PUNCT
ajfa-11077	60	1	the	the	DET
ajfa-11077	60	2	empirical	empirical	ADJ
ajfa-11077	60	3	results	result	NOUN
ajfa-11077	60	4	and	and	CCONJ
ajfa-11077	60	5	analysis	analysis	NOUN
ajfa-11077	60	6	are	be	AUX
ajfa-11077	60	7	shown	show	VERB
ajfa-11077	60	8	in	in	ADP
ajfa-11077	60	9	section	section	NOUN
ajfa-11077	60	10	5	5	NUM
ajfa-11077	60	11	.	.	PUNCT
ajfa-11077	61	1	the	the	DET
ajfa-11077	61	2	last	last	ADJ
ajfa-11077	61	3	section	section	NOUN
ajfa-11077	61	4	is	be	AUX
ajfa-11077	61	5	the	the	DET
ajfa-11077	61	6	conclusion	conclusion	NOUN
ajfa-11077	61	7	.	.	PUNCT
ajfa-11077	62	1	2	2	X
ajfa-11077	62	2	.	.	X
ajfa-11077	62	3	literature	literature	NOUN
ajfa-11077	62	4	review	review	NOUN
ajfa-11077	62	5	from	from	ADP
ajfa-11077	62	6	the	the	DET
ajfa-11077	62	7	1980s	1980	NOUN
ajfa-11077	62	8	,	,	PUNCT
ajfa-11077	62	9	there	there	PRON
ajfa-11077	62	10	are	be	VERB
ajfa-11077	62	11	numerous	numerous	ADJ
ajfa-11077	62	12	studies	study	NOUN
ajfa-11077	62	13	to	to	PART
ajfa-11077	62	14	discuss	discuss	VERB
ajfa-11077	62	15	the	the	DET
ajfa-11077	62	16	foreign	foreign	ADJ
ajfa-11077	62	17	exchange	exchange	NOUN
ajfa-11077	62	18	exposures	exposure	NOUN
ajfa-11077	62	19	.	.	PUNCT
ajfa-11077	63	1	the	the	DET
ajfa-11077	63	2	landmark	landmark	PROPN
ajfa-11077	63	3	papers	paper	NOUN
ajfa-11077	63	4	,	,	PUNCT
ajfa-11077	63	5	dumas	dumas	PROPN
ajfa-11077	63	6	(	(	PUNCT
ajfa-11077	63	7	1978	1978	NUM
ajfa-11077	63	8	)	)	PUNCT
ajfa-11077	63	9	,	,	PUNCT
ajfa-11077	63	10	adler	adler	PROPN
ajfa-11077	63	11	and	and	CCONJ
ajfa-11077	63	12	dumas	dumas	PROPN
ajfa-11077	63	13	(	(	PUNCT
ajfa-11077	63	14	1980	1980	NUM
ajfa-11077	63	15	)	)	PUNCT
ajfa-11077	63	16	and	and	CCONJ
ajfa-11077	63	17	then	then	ADV
ajfa-11077	63	18	hodder	hodder	PROPN
ajfa-11077	63	19	(	(	PUNCT
ajfa-11077	63	20	1982	1982	NUM
ajfa-11077	63	21	)	)	PUNCT
ajfa-11077	63	22	implemented	implement	VERB
ajfa-11077	63	23	the	the	DET
ajfa-11077	63	24	change	change	NOUN
ajfa-11077	63	25	of	of	ADP
ajfa-11077	63	26	foreign	foreign	ADJ
ajfa-11077	63	27	exchange	exchange	NOUN
ajfa-11077	63	28	rates	rate	NOUN
ajfa-11077	63	29	into	into	ADP
ajfa-11077	63	30	the	the	DET
ajfa-11077	63	31	regression	regression	NOUN
ajfa-11077	63	32	models	model	NOUN
ajfa-11077	63	33	to	to	PART
ajfa-11077	63	34	study	study	VERB
ajfa-11077	63	35	the	the	DET
ajfa-11077	63	36	u.s	u.s	PROPN
ajfa-11077	63	37	.	.	PROPN
ajfa-11077	63	38	multinational	multinational	ADJ
ajfa-11077	63	39	firm	firm	NOUN
ajfa-11077	63	40	’s	’s	PART
ajfa-11077	63	41	values	value	NOUN
ajfa-11077	63	42	.	.	PUNCT
ajfa-11077	64	1	and	and	CCONJ
ajfa-11077	64	2	jorion	jorion	NOUN
ajfa-11077	64	3	(	(	PUNCT
ajfa-11077	64	4	1990	1990	NUM
ajfa-11077	64	5	,	,	PUNCT
ajfa-11077	64	6	1991	1991	NUM
ajfa-11077	64	7	)	)	PUNCT
ajfa-11077	64	8	followed	follow	VERB
ajfa-11077	64	9	their	their	PRON
ajfa-11077	64	10	studies	study	NOUN
ajfa-11077	64	11	and	and	CCONJ
ajfa-11077	64	12	found	find	VERB
ajfa-11077	64	13	that	that	SCONJ
ajfa-11077	64	14	the	the	DET
ajfa-11077	64	15	stock	stock	NOUN
ajfa-11077	64	16	returns	return	NOUN
ajfa-11077	64	17	of	of	ADP
ajfa-11077	64	18	u.s	u.s	PROPN
ajfa-11077	64	19	.	.	PROPN
ajfa-11077	64	20	multinational	multinational	ADJ
ajfa-11077	64	21	firm	firm	NOUN
ajfa-11077	64	22	are	be	AUX
ajfa-11077	64	23	significantly	significantly	ADV
ajfa-11077	64	24	positively	positively	ADV
ajfa-11077	64	25	correlated	correlate	VERB
ajfa-11077	64	26	to	to	ADP
ajfa-11077	64	27	the	the	DET
ajfa-11077	64	28	volatility	volatility	NOUN
ajfa-11077	64	29	of	of	ADP
ajfa-11077	64	30	the	the	DET
ajfa-11077	64	31	u.s	u.s	PROPN
ajfa-11077	64	32	.	.	PROPN
ajfa-11077	64	33	dollar	dollar	NOUN
ajfa-11077	64	34	.	.	PUNCT
ajfa-11077	65	1	moreover	moreover	ADV
ajfa-11077	65	2	,	,	PUNCT
ajfa-11077	65	3	bodnar	bodnar	NOUN
ajfa-11077	65	4	and	and	CCONJ
ajfa-11077	65	5	gentry	gentry	NOUN
ajfa-11077	65	6	(	(	PUNCT
ajfa-11077	65	7	1993	1993	NUM
ajfa-11077	65	8	)	)	PUNCT
ajfa-11077	65	9	studied	study	VERB
ajfa-11077	65	10	the	the	DET
ajfa-11077	65	11	different	different	ADJ
ajfa-11077	65	12	effects	effect	NOUN
ajfa-11077	65	13	of	of	ADP
ajfa-11077	65	14	the	the	DET
ajfa-11077	65	15	fluctuations	fluctuation	NOUN
ajfa-11077	65	16	of	of	ADP
ajfa-11077	65	17	foreign	foreign	ADJ
ajfa-11077	65	18	exchange	exchange	NOUN
ajfa-11077	65	19	rates	rate	NOUN
ajfa-11077	65	20	on	on	ADP
ajfa-11077	65	21	the	the	DET
ajfa-11077	65	22	different	different	ADJ
ajfa-11077	65	23	industries	industry	NOUN
ajfa-11077	65	24	in	in	ADP
ajfa-11077	65	25	u.s	u.s	PROPN
ajfa-11077	65	26	.	.	PROPN
ajfa-11077	65	27	,	,	PUNCT
ajfa-11077	65	28	canada	canada	PROPN
ajfa-11077	65	29	and	and	CCONJ
ajfa-11077	65	30	japan	japan	PROPN
ajfa-11077	65	31	.	.	PUNCT
ajfa-11077	66	1	schnabel	schnabel	PROPN
ajfa-11077	66	2	(	(	PUNCT
ajfa-11077	66	3	1989	1989	NUM
ajfa-11077	66	4	,	,	PUNCT
ajfa-11077	66	5	1994	1994	NUM
ajfa-11077	66	6	)	)	PUNCT
ajfa-11077	66	7	extended	extend	VERB
ajfa-11077	66	8	the	the	DET
ajfa-11077	66	9	adler	adler	PROPN
ajfa-11077	66	10	-	-	PUNCT
ajfa-11077	66	11	dumas	dumas	PROPN
ajfa-11077	66	12	model	model	NOUN
ajfa-11077	66	13	to	to	ADP
ajfa-11077	66	14	a	a	DET
ajfa-11077	66	15	multi	multi	ADJ
ajfa-11077	66	16	-	-	ADJ
ajfa-11077	66	17	factor	factor	NOUN
ajfa-11077	66	18	model	model	NOUN
ajfa-11077	66	19	by	by	ADP
ajfa-11077	66	20	including	include	VERB
ajfa-11077	66	21	several	several	ADJ
ajfa-11077	66	22	currencies	currency	NOUN
ajfa-11077	66	23	exchange	exchange	NOUN
ajfa-11077	66	24	rate	rate	NOUN
ajfa-11077	66	25	movement	movement	NOUN
ajfa-11077	66	26	.	.	PUNCT
ajfa-11077	67	1	351.1	351.1	NUM
ajfa-11077	67	2	389.4	389.4	NUM
ajfa-11077	67	3	390.5	390.5	NUM
ajfa-11077	67	4	371.3	371.3	NUM
ajfa-11077	67	5	408.1	408.1	NUM
ajfa-11077	67	6	514.0	514.0	NUM
ajfa-11077	67	7	636.3	636.3	NUM
ajfa-11077	67	8	618.4	618.4	NUM
ajfa-11077	67	9	638.9	638.9	NUM
ajfa-11077	67	10	753.0	753.0	NUM
ajfa-11077	67	11	158.5	158.5	NUM
ajfa-11077	67	12	165.1	165.1	NUM
ajfa-11077	67	13	171.2	171.2	NUM
ajfa-11077	67	14	187.1	187.1	NUM
ajfa-11077	67	15	225.3	225.3	NUM
ajfa-11077	67	16	275.9	275.9	NUM
ajfa-11077	67	17	326.0	326.0	NUM
ajfa-11077	67	18	348.5	348.5	NUM
ajfa-11077	67	19	366.8	366.8	NUM
ajfa-11077	67	20	443.8193	443.8193	NUM
ajfa-11077	67	21	224	224	NUM
ajfa-11077	67	22	219	219	NUM
ajfa-11077	67	23	184	184	NUM
ajfa-11077	67	24	183	183	NUM
ajfa-11077	67	25	238	238	NUM
ajfa-11077	67	26	313	313	NUM
ajfa-11077	67	27	270	270	NUM
ajfa-11077	67	28	272	272	NUM
ajfa-11077	67	29	309	309	NUM
ajfa-11077	67	30	0	0	NUM
ajfa-11077	67	31	500	500	NUM
ajfa-11077	67	32	1,000	1,000	NUM
ajfa-11077	67	33	2005	2005	NUM
ajfa-11077	67	34	2006	2006	NUM
ajfa-11077	67	35	2007	2007	NUM
ajfa-11077	67	36	2008	2008	NUM
ajfa-11077	67	37	2009	2009	NUM
ajfa-11077	67	38	2010	2010	NUM
ajfa-11077	67	39	2011	2011	NUM
ajfa-11077	67	40	2012	2012	NUM
ajfa-11077	67	41	2013	2013	NUM
ajfa-11077	67	42	2014	2014	NUM
ajfa-11077	67	43	toursim	toursim	NOUN
ajfa-11077	67	44	revenue	revenue	NOUN
ajfa-11077	67	45	(	(	PUNCT
ajfa-11077	67	46	billions	billion	NOUN
ajfa-11077	67	47	of	of	ADP
ajfa-11077	67	48	nt$	nt$	NUM
ajfa-11077	67	49	)	)	PUNCT
ajfa-11077	67	50	foreign	foreign	ADJ
ajfa-11077	67	51	exchange	exchange	NOUN
ajfa-11077	67	52	earnings	earning	NOUN
ajfa-11077	67	53	(	(	PUNCT
ajfa-11077	67	54	billions	billion	NOUN
ajfa-11077	67	55	of	of	ADP
ajfa-11077	67	56	nt$	nt$	NUM
ajfa-11077	67	57	)	)	PUNCT
ajfa-11077	67	58	year	year	NOUN
ajfa-11077	67	59	asian	asian	ADJ
ajfa-11077	67	60	journal	journal	NOUN
ajfa-11077	67	61	of	of	ADP
ajfa-11077	67	62	finance	finance	PROPN
ajfa-11077	67	63	&	&	CCONJ
ajfa-11077	67	64	accounting	accounting	PROPN
ajfa-11077	67	65	issn	issn	PROPN
ajfa-11077	67	66	1946	1946	NUM
ajfa-11077	67	67	-	-	PUNCT
ajfa-11077	67	68	052x	052x	PROPN
ajfa-11077	67	69	2017	2017	NUM
ajfa-11077	67	70	,	,	PUNCT
ajfa-11077	67	71	vol	vol	NOUN
ajfa-11077	67	72	.	.	NOUN
ajfa-11077	67	73	9	9	NUM
ajfa-11077	67	74	,	,	PUNCT
ajfa-11077	67	75	no	no	INTJ
ajfa-11077	67	76	.	.	NOUN
ajfa-11077	67	77	1	1	NUM
ajfa-11077	67	78	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	67	79	278	278	NUM
ajfa-11077	67	80	moreover	moreover	ADV
ajfa-11077	67	81	,	,	PUNCT
ajfa-11077	67	82	he	he	PRON
ajfa-11077	67	83	and	and	CCONJ
ajfa-11077	67	84	ng	ng	PROPN
ajfa-11077	67	85	(	(	PUNCT
ajfa-11077	67	86	1998	1998	NUM
ajfa-11077	67	87	)	)	PUNCT
ajfa-11077	67	88	studied	study	VERB
ajfa-11077	67	89	japan	japan	PROPN
ajfa-11077	67	90	171	171	NUM
ajfa-11077	67	91	multinational	multinational	ADJ
ajfa-11077	67	92	firms	firm	NOUN
ajfa-11077	67	93	there	there	PRON
ajfa-11077	67	94	are	be	VERB
ajfa-11077	67	95	about	about	ADV
ajfa-11077	67	96	25	25	NUM
ajfa-11077	67	97	%	%	NOUN
ajfa-11077	67	98	firm	firm	NOUN
ajfa-11077	67	99	’s	’s	PART
ajfa-11077	67	100	stock	stock	NOUN
ajfa-11077	67	101	returns	return	NOUN
ajfa-11077	67	102	significantly	significantly	ADV
ajfa-11077	67	103	positively	positively	ADV
ajfa-11077	67	104	correlated	correlate	VERB
ajfa-11077	67	105	to	to	ADP
ajfa-11077	67	106	the	the	DET
ajfa-11077	67	107	foreign	foreign	ADJ
ajfa-11077	67	108	exchange	exchange	NOUN
ajfa-11077	67	109	exposures	exposure	NOUN
ajfa-11077	67	110	,	,	PUNCT
ajfa-11077	67	111	themselves	themselves	PRON
ajfa-11077	67	112	.	.	PUNCT
ajfa-11077	68	1	and	and	CCONJ
ajfa-11077	68	2	the	the	DET
ajfa-11077	68	3	effects	effect	NOUN
ajfa-11077	68	4	are	be	AUX
ajfa-11077	68	5	increasing	increase	VERB
ajfa-11077	68	6	as	as	ADP
ajfa-11077	68	7	firm	firm	NOUN
ajfa-11077	68	8	’s	’s	PART
ajfa-11077	68	9	size	size	NOUN
ajfa-11077	68	10	increases	increase	NOUN
ajfa-11077	68	11	.	.	PUNCT
ajfa-11077	69	1	morelli	morelli	PROPN
ajfa-11077	69	2	(	(	PUNCT
ajfa-11077	69	3	2007	2007	NUM
ajfa-11077	69	4	)	)	PUNCT
ajfa-11077	69	5	found	find	VERB
ajfa-11077	69	6	the	the	DET
ajfa-11077	69	7	same	same	ADJ
ajfa-11077	69	8	effects	effect	NOUN
ajfa-11077	69	9	of	of	ADP
ajfa-11077	69	10	firm	firm	NOUN
ajfa-11077	69	11	’s	’s	PART
ajfa-11077	69	12	size	size	NOUN
ajfa-11077	69	13	on	on	ADP
ajfa-11077	69	14	the	the	DET
ajfa-11077	69	15	uk	uk	PROPN
ajfa-11077	69	16	listed	list	VERB
ajfa-11077	69	17	firms	firm	NOUN
ajfa-11077	69	18	’	’	PART
ajfa-11077	69	19	stock	stock	NOUN
ajfa-11077	69	20	returns	return	NOUN
ajfa-11077	69	21	.	.	PUNCT
ajfa-11077	70	1	dominguez	dominguez	PROPN
ajfa-11077	70	2	and	and	CCONJ
ajfa-11077	70	3	tesar	tesar	PROPN
ajfa-11077	70	4	(	(	PUNCT
ajfa-11077	70	5	2006	2006	NUM
ajfa-11077	70	6	)	)	PUNCT
ajfa-11077	70	7	examined	examine	VERB
ajfa-11077	70	8	the	the	DET
ajfa-11077	70	9	relationship	relationship	NOUN
ajfa-11077	70	10	between	between	ADP
ajfa-11077	70	11	exchange	exchange	NOUN
ajfa-11077	70	12	rate	rate	NOUN
ajfa-11077	70	13	movement	movement	NOUN
ajfa-11077	70	14	and	and	CCONJ
ajfa-11077	70	15	firm	firm	ADJ
ajfa-11077	70	16	value	value	NOUN
ajfa-11077	70	17	.	.	PUNCT
ajfa-11077	71	1	no	no	PRON
ajfa-11077	71	2	matter	matter	NOUN
ajfa-11077	71	3	in	in	ADP
ajfa-11077	71	4	the	the	DET
ajfa-11077	71	5	firmor	firmor	NOUN
ajfa-11077	71	6	industry	industry	NOUN
ajfa-11077	71	7	-	-	PUNCT
ajfa-11077	71	8	level	level	NOUN
ajfa-11077	71	9	,	,	PUNCT
ajfa-11077	71	10	they	they	PRON
ajfa-11077	71	11	found	find	VERB
ajfa-11077	71	12	that	that	SCONJ
ajfa-11077	71	13	the	the	DET
ajfa-11077	71	14	foreign	foreign	ADJ
ajfa-11077	71	15	exchange	exchange	NOUN
ajfa-11077	71	16	exposure	exposure	NOUN
ajfa-11077	71	17	do	do	AUX
ajfa-11077	71	18	affect	affect	VERB
ajfa-11077	71	19	the	the	DET
ajfa-11077	71	20	value	value	NOUN
ajfa-11077	71	21	of	of	ADP
ajfa-11077	71	22	firm	firm	NOUN
ajfa-11077	71	23	.	.	PUNCT
ajfa-11077	72	1	salifu	salifu	PROPN
ajfa-11077	72	2	,	,	PUNCT
ajfa-11077	72	3	osei	osei	PROPN
ajfa-11077	72	4	,	,	PUNCT
ajfa-11077	72	5	and	and	CCONJ
ajfa-11077	72	6	adjasi	adjasi	PROPN
ajfa-11077	72	7	,	,	PUNCT
ajfa-11077	72	8	(	(	PUNCT
ajfa-11077	72	9	2007	2007	NUM
ajfa-11077	72	10	)	)	PUNCT
ajfa-11077	72	11	examined	examine	VERB
ajfa-11077	72	12	the	the	DET
ajfa-11077	72	13	foreign	foreign	ADJ
ajfa-11077	72	14	exchange	exchange	NOUN
ajfa-11077	72	15	exposure	exposure	NOUN
ajfa-11077	72	16	of	of	ADP
ajfa-11077	72	17	ghanaian	ghanaian	ADJ
ajfa-11077	72	18	listed	list	VERB
ajfa-11077	72	19	companies	company	NOUN
ajfa-11077	72	20	.	.	PUNCT
ajfa-11077	73	1	their	their	PRON
ajfa-11077	73	2	results	result	NOUN
ajfa-11077	73	3	showed	show	VERB
ajfa-11077	73	4	that	that	SCONJ
ajfa-11077	73	5	about	about	ADP
ajfa-11077	73	6	55	55	NUM
ajfa-11077	73	7	%	%	NOUN
ajfa-11077	73	8	companies	company	NOUN
ajfa-11077	73	9	are	be	AUX
ajfa-11077	73	10	exposed	expose	VERB
ajfa-11077	73	11	to	to	ADP
ajfa-11077	73	12	the	the	DET
ajfa-11077	73	13	fluctuation	fluctuation	NOUN
ajfa-11077	73	14	of	of	ADP
ajfa-11077	73	15	us	us	PROPN
ajfa-11077	73	16	dollar	dollar	NOUN
ajfa-11077	73	17	and	and	CCONJ
ajfa-11077	73	18	35	35	NUM
ajfa-11077	73	19	%	%	NOUN
ajfa-11077	73	20	companies	company	NOUN
ajfa-11077	73	21	are	be	AUX
ajfa-11077	73	22	exposed	expose	VERB
ajfa-11077	73	23	to	to	ADP
ajfa-11077	73	24	that	that	PRON
ajfa-11077	73	25	of	of	ADP
ajfa-11077	73	26	uk	uk	PROPN
ajfa-11077	73	27	pound	pound	NOUN
ajfa-11077	73	28	.	.	PUNCT
ajfa-11077	74	1	moreover	moreover	ADV
ajfa-11077	74	2	,	,	PUNCT
ajfa-11077	74	3	chen	chen	PROPN
ajfa-11077	74	4	and	and	CCONJ
ajfa-11077	74	5	kuo	kuo	PROPN
ajfa-11077	74	6	(	(	PUNCT
ajfa-11077	74	7	2016	2016	NUM
ajfa-11077	74	8	)	)	PUNCT
ajfa-11077	74	9	found	find	VERB
ajfa-11077	74	10	that	that	SCONJ
ajfa-11077	74	11	the	the	DET
ajfa-11077	74	12	exchange	exchange	NOUN
ajfa-11077	74	13	rate	rate	NOUN
ajfa-11077	74	14	variability	variability	NOUN
ajfa-11077	74	15	was	be	AUX
ajfa-11077	74	16	significantly	significantly	ADV
ajfa-11077	74	17	related	relate	VERB
ajfa-11077	74	18	to	to	ADP
ajfa-11077	74	19	foreign	foreign	ADJ
ajfa-11077	74	20	reserves	reserve	NOUN
ajfa-11077	74	21	foreign	foreign	ADJ
ajfa-11077	74	22	reserves	reserve	NOUN
ajfa-11077	74	23	growth	growth	NOUN
ajfa-11077	74	24	rate	rate	NOUN
ajfa-11077	74	25	and	and	CCONJ
ajfa-11077	74	26	the	the	DET
ajfa-11077	74	27	stock	stock	NOUN
ajfa-11077	74	28	index	index	NOUN
ajfa-11077	74	29	return	return	NOUN
ajfa-11077	74	30	.	.	PUNCT
ajfa-11077	75	1	jahan	jahan	PROPN
ajfa-11077	75	2	(	(	PUNCT
ajfa-11077	75	3	2016	2016	NUM
ajfa-11077	75	4	)	)	PUNCT
ajfa-11077	75	5	studied	study	VERB
ajfa-11077	75	6	the	the	DET
ajfa-11077	75	7	efficiency	efficiency	NOUN
ajfa-11077	75	8	of	of	ADP
ajfa-11077	75	9	using	use	VERB
ajfa-11077	75	10	currency	currency	NOUN
ajfa-11077	75	11	derivatives	derivative	NOUN
ajfa-11077	75	12	to	to	PART
ajfa-11077	75	13	reduce	reduce	VERB
ajfa-11077	75	14	the	the	DET
ajfa-11077	75	15	effect	effect	NOUN
ajfa-11077	75	16	of	of	ADP
ajfa-11077	75	17	currency	currency	NOUN
ajfa-11077	75	18	fluctuations	fluctuation	NOUN
ajfa-11077	75	19	on	on	ADP
ajfa-11077	75	20	the	the	DET
ajfa-11077	75	21	performances	performance	NOUN
ajfa-11077	75	22	of	of	ADP
ajfa-11077	75	23	the	the	DET
ajfa-11077	75	24	advanced	advanced	ADJ
ajfa-11077	75	25	chemical	chemical	NOUN
ajfa-11077	75	26	industries	industry	NOUN
ajfa-11077	75	27	in	in	ADP
ajfa-11077	75	28	bangladesh	bangladesh	NOUN
ajfa-11077	75	29	.	.	PUNCT
ajfa-11077	76	1	on	on	ADP
ajfa-11077	76	2	the	the	DET
ajfa-11077	76	3	other	other	ADJ
ajfa-11077	76	4	hand	hand	NOUN
ajfa-11077	76	5	,	,	PUNCT
ajfa-11077	76	6	maloney	maloney	NOUN
ajfa-11077	76	7	(	(	PUNCT
ajfa-11077	76	8	1990	1990	NUM
ajfa-11077	76	9	)	)	PUNCT
ajfa-11077	76	10	and	and	CCONJ
ajfa-11077	76	11	koo	koo	PROPN
ajfa-11077	76	12	(	(	PUNCT
ajfa-11077	76	13	1994	1994	NUM
ajfa-11077	76	14	)	)	PUNCT
ajfa-11077	76	15	paid	pay	VERB
ajfa-11077	76	16	attention	attention	NOUN
ajfa-11077	76	17	on	on	ADP
ajfa-11077	76	18	the	the	DET
ajfa-11077	76	19	australian	australian	ADJ
ajfa-11077	76	20	mining	mining	NOUN
ajfa-11077	76	21	industry	industry	NOUN
ajfa-11077	76	22	.	.	PUNCT
ajfa-11077	77	1	they	they	PRON
ajfa-11077	77	2	indicated	indicate	VERB
ajfa-11077	77	3	that	that	SCONJ
ajfa-11077	77	4	the	the	DET
ajfa-11077	77	5	fluctuations	fluctuation	NOUN
ajfa-11077	77	6	of	of	ADP
ajfa-11077	77	7	the	the	DET
ajfa-11077	77	8	exchange	exchange	NOUN
ajfa-11077	77	9	rates	rate	NOUN
ajfa-11077	77	10	between	between	ADP
ajfa-11077	77	11	australia	australia	PROPN
ajfa-11077	77	12	dollars	dollar	NOUN
ajfa-11077	77	13	against	against	ADP
ajfa-11077	77	14	to	to	ADP
ajfa-11077	77	15	the	the	DET
ajfa-11077	77	16	major	major	ADJ
ajfa-11077	77	17	currencies	currency	NOUN
ajfa-11077	77	18	will	will	AUX
ajfa-11077	77	19	affect	affect	VERB
ajfa-11077	77	20	the	the	DET
ajfa-11077	77	21	firm	firm	NOUN
ajfa-11077	77	22	’s	’s	PART
ajfa-11077	77	23	profit	profit	NOUN
ajfa-11077	77	24	.	.	PUNCT
ajfa-11077	78	1	so	so	ADV
ajfa-11077	78	2	they	they	PRON
ajfa-11077	78	3	suggested	suggest	VERB
ajfa-11077	78	4	that	that	SCONJ
ajfa-11077	78	5	firm	firm	NOUN
ajfa-11077	78	6	should	should	AUX
ajfa-11077	78	7	find	find	VERB
ajfa-11077	78	8	some	some	DET
ajfa-11077	78	9	strategies	strategy	NOUN
ajfa-11077	78	10	to	to	PART
ajfa-11077	78	11	manage	manage	VERB
ajfa-11077	78	12	the	the	DET
ajfa-11077	78	13	positions	position	NOUN
ajfa-11077	78	14	of	of	ADP
ajfa-11077	78	15	foreign	foreign	ADJ
ajfa-11077	78	16	currencies	currency	NOUN
ajfa-11077	78	17	in	in	ADP
ajfa-11077	78	18	order	order	NOUN
ajfa-11077	78	19	to	to	PART
ajfa-11077	78	20	avoid	avoid	VERB
ajfa-11077	78	21	the	the	DET
ajfa-11077	78	22	losses	loss	NOUN
ajfa-11077	78	23	caused	cause	VERB
ajfa-11077	78	24	by	by	ADP
ajfa-11077	78	25	the	the	DET
ajfa-11077	78	26	fluctuations	fluctuation	NOUN
ajfa-11077	78	27	of	of	ADP
ajfa-11077	78	28	exchange	exchange	NOUN
ajfa-11077	78	29	rates	rate	NOUN
ajfa-11077	78	30	and	and	CCONJ
ajfa-11077	78	31	then	then	ADV
ajfa-11077	78	32	reduce	reduce	VERB
ajfa-11077	78	33	the	the	DET
ajfa-11077	78	34	firm	firm	NOUN
ajfa-11077	78	35	’s	’s	PART
ajfa-11077	78	36	performance	performance	NOUN
ajfa-11077	78	37	.	.	PUNCT
ajfa-11077	79	1	aggarwal	aggarwal	NOUN
ajfa-11077	79	2	and	and	CCONJ
ajfa-11077	79	3	harper	harper	NOUN
ajfa-11077	79	4	,	,	PUNCT
ajfa-11077	79	5	(	(	PUNCT
ajfa-11077	79	6	2010	2010	NUM
ajfa-11077	79	7	)	)	PUNCT
ajfa-11077	79	8	investigated	investigate	VERB
ajfa-11077	79	9	the	the	DET
ajfa-11077	79	10	foreign	foreign	ADJ
ajfa-11077	79	11	exchange	exchange	NOUN
ajfa-11077	79	12	exposures	exposure	VERB
ajfa-11077	79	13	that	that	SCONJ
ajfa-11077	79	14	u.s	u.s	PROPN
ajfa-11077	79	15	.	.	PROPN
ajfa-11077	79	16	domestic	domestic	ADJ
ajfa-11077	79	17	companies	company	NOUN
ajfa-11077	79	18	faced	face	VERB
ajfa-11077	79	19	to	to	PART
ajfa-11077	79	20	.	.	PUNCT
ajfa-11077	80	1	their	their	PRON
ajfa-11077	80	2	results	result	NOUN
ajfa-11077	80	3	showed	show	VERB
ajfa-11077	80	4	that	that	SCONJ
ajfa-11077	80	5	the	the	DET
ajfa-11077	80	6	domestic	domestic	ADJ
ajfa-11077	80	7	company	company	NOUN
ajfa-11077	80	8	suffers	suffer	VERB
ajfa-11077	80	9	more	more	ADJ
ajfa-11077	80	10	foreign	foreign	ADJ
ajfa-11077	80	11	exchange	exchange	NOUN
ajfa-11077	80	12	exposures	exposure	NOUN
ajfa-11077	80	13	than	than	ADP
ajfa-11077	80	14	mnes	mne	NOUN
ajfa-11077	80	15	.	.	PUNCT
ajfa-11077	81	1	they	they	PRON
ajfa-11077	81	2	concluded	conclude	VERB
ajfa-11077	81	3	that	that	SCONJ
ajfa-11077	81	4	the	the	DET
ajfa-11077	81	5	mnes	mne	NOUN
ajfa-11077	81	6	may	may	AUX
ajfa-11077	81	7	use	use	VERB
ajfa-11077	81	8	more	more	ADJ
ajfa-11077	81	9	currency	currency	NOUN
ajfa-11077	81	10	derivatives	derivative	NOUN
ajfa-11077	81	11	and	and	CCONJ
ajfa-11077	81	12	more	more	ADJ
ajfa-11077	81	13	trading	trading	NOUN
ajfa-11077	81	14	skills	skill	NOUN
ajfa-11077	81	15	to	to	PART
ajfa-11077	81	16	reduce	reduce	VERB
ajfa-11077	81	17	the	the	DET
ajfa-11077	81	18	foreign	foreign	ADJ
ajfa-11077	81	19	exchange	exchange	NOUN
ajfa-11077	81	20	exposures	exposure	NOUN
ajfa-11077	81	21	than	than	ADP
ajfa-11077	81	22	the	the	DET
ajfa-11077	81	23	pure	pure	ADJ
ajfa-11077	81	24	domestic	domestic	ADJ
ajfa-11077	81	25	companies	company	NOUN
ajfa-11077	81	26	.	.	PUNCT
ajfa-11077	82	1	in	in	ADP
ajfa-11077	82	2	addae	addae	PROPN
ajfa-11077	82	3	,	,	PUNCT
ajfa-11077	82	4	nyark	nyark	NOUN
ajfa-11077	82	5	-	-	PUNCT
ajfa-11077	82	6	baasi	baasi	NOUN
ajfa-11077	82	7	,	,	PUNCT
ajfa-11077	82	8	and	and	CCONJ
ajfa-11077	82	9	tetteh	tetteh	NOUN
ajfa-11077	82	10	(	(	PUNCT
ajfa-11077	82	11	2014	2014	NUM
ajfa-11077	82	12	)	)	PUNCT
ajfa-11077	82	13	,	,	PUNCT
ajfa-11077	82	14	they	they	PRON
ajfa-11077	82	15	found	find	VERB
ajfa-11077	82	16	that	that	SCONJ
ajfa-11077	82	17	the	the	DET
ajfa-11077	82	18	foreign	foreign	ADJ
ajfa-11077	82	19	exchange	exchange	NOUN
ajfa-11077	82	20	rate	rate	NOUN
ajfa-11077	82	21	movement	movement	NOUN
ajfa-11077	82	22	will	will	AUX
ajfa-11077	82	23	affect	affect	VERB
ajfa-11077	82	24	the	the	DET
ajfa-11077	82	25	quality	quality	NOUN
ajfa-11077	82	26	of	of	ADP
ajfa-11077	82	27	assets	asset	NOUN
ajfa-11077	82	28	of	of	ADP
ajfa-11077	82	29	ghanaian	ghanaian	ADJ
ajfa-11077	82	30	banks	bank	NOUN
ajfa-11077	82	31	.	.	PUNCT
ajfa-11077	83	1	in	in	ADP
ajfa-11077	83	2	fact	fact	NOUN
ajfa-11077	83	3	,	,	PUNCT
ajfa-11077	83	4	the	the	DET
ajfa-11077	83	5	foreign	foreign	ADJ
ajfa-11077	83	6	exchange	exchange	NOUN
ajfa-11077	83	7	market	market	NOUN
ajfa-11077	83	8	in	in	ADP
ajfa-11077	83	9	taiwan	taiwan	PROPN
ajfa-11077	83	10	is	be	AUX
ajfa-11077	83	11	a	a	DET
ajfa-11077	83	12	small	small	ADJ
ajfa-11077	83	13	,	,	PUNCT
ajfa-11077	83	14	regional	regional	ADJ
ajfa-11077	83	15	market	market	NOUN
ajfa-11077	83	16	,	,	PUNCT
ajfa-11077	83	17	so	so	CCONJ
ajfa-11077	83	18	some	some	DET
ajfa-11077	83	19	foreign	foreign	ADJ
ajfa-11077	83	20	currencies	currency	NOUN
ajfa-11077	83	21	transaction	transaction	NOUN
ajfa-11077	83	22	is	be	AUX
ajfa-11077	83	23	not	not	PART
ajfa-11077	83	24	warm	warm	ADJ
ajfa-11077	83	25	and	and	CCONJ
ajfa-11077	83	26	the	the	DET
ajfa-11077	83	27	trading	trading	NOUN
ajfa-11077	83	28	volume	volume	NOUN
ajfa-11077	83	29	is	be	AUX
ajfa-11077	83	30	small	small	ADJ
ajfa-11077	83	31	.	.	PUNCT
ajfa-11077	84	1	the	the	DET
ajfa-11077	84	2	liquidities	liquidity	NOUN
ajfa-11077	84	3	of	of	ADP
ajfa-11077	84	4	the	the	DET
ajfa-11077	84	5	other	other	ADJ
ajfa-11077	84	6	currencies	currency	NOUN
ajfa-11077	84	7	are	be	AUX
ajfa-11077	84	8	lower	low	ADJ
ajfa-11077	84	9	than	than	ADP
ajfa-11077	84	10	that	that	PRON
ajfa-11077	84	11	of	of	ADP
ajfa-11077	84	12	the	the	DET
ajfa-11077	84	13	international	international	ADJ
ajfa-11077	84	14	major	major	ADJ
ajfa-11077	84	15	currencies	currency	NOUN
ajfa-11077	84	16	.	.	PUNCT
ajfa-11077	85	1	as	as	SCONJ
ajfa-11077	85	2	harris	harris	PROPN
ajfa-11077	85	3	(	(	PUNCT
ajfa-11077	85	4	2003	2003	NUM
ajfa-11077	85	5	)	)	PUNCT
ajfa-11077	85	6	has	have	AUX
ajfa-11077	85	7	said	say	VERB
ajfa-11077	85	8	that	that	SCONJ
ajfa-11077	85	9	liquidity	liquidity	NOUN
ajfa-11077	85	10	is	be	AUX
ajfa-11077	85	11	the	the	DET
ajfa-11077	85	12	ability	ability	NOUN
ajfa-11077	85	13	to	to	PART
ajfa-11077	85	14	trade	trade	VERB
ajfa-11077	85	15	large	large	ADJ
ajfa-11077	85	16	size	size	NOUN
ajfa-11077	85	17	quickly	quickly	ADV
ajfa-11077	85	18	,	,	PUNCT
ajfa-11077	85	19	at	at	ADP
ajfa-11077	85	20	low	low	ADJ
ajfa-11077	85	21	cost	cost	NOUN
ajfa-11077	85	22	,	,	PUNCT
ajfa-11077	85	23	when	when	SCONJ
ajfa-11077	85	24	you	you	PRON
ajfa-11077	85	25	want	want	VERB
ajfa-11077	85	26	to	to	PART
ajfa-11077	85	27	trade	trade	VERB
ajfa-11077	85	28	.	.	PUNCT
ajfa-11077	86	1	such	such	ADJ
ajfa-11077	86	2	that	that	SCONJ
ajfa-11077	86	3	a	a	DET
ajfa-11077	86	4	lower	low	ADJ
ajfa-11077	86	5	liquidity	liquidity	NOUN
ajfa-11077	86	6	will	will	AUX
ajfa-11077	86	7	result	result	VERB
ajfa-11077	86	8	to	to	ADP
ajfa-11077	86	9	the	the	DET
ajfa-11077	86	10	company	company	NOUN
ajfa-11077	86	11	when	when	SCONJ
ajfa-11077	86	12	buying	buy	VERB
ajfa-11077	86	13	foreign	foreign	ADJ
ajfa-11077	86	14	currency	currency	NOUN
ajfa-11077	86	15	in	in	ADP
ajfa-11077	86	16	order	order	NOUN
ajfa-11077	86	17	to	to	PART
ajfa-11077	86	18	circumvent	circumvent	VERB
ajfa-11077	86	19	the	the	DET
ajfa-11077	86	20	exposure	exposure	NOUN
ajfa-11077	86	21	of	of	ADP
ajfa-11077	86	22	foreign	foreign	ADJ
ajfa-11077	86	23	exchange	exchange	NOUN
ajfa-11077	86	24	transactions	transaction	NOUN
ajfa-11077	86	25	,	,	PUNCT
ajfa-11077	86	26	it	it	PRON
ajfa-11077	86	27	can	can	AUX
ajfa-11077	86	28	not	not	PART
ajfa-11077	86	29	immediately	immediately	ADV
ajfa-11077	86	30	trade	trade	VERB
ajfa-11077	86	31	at	at	ADP
ajfa-11077	86	32	a	a	DET
ajfa-11077	86	33	predetermined	predetermine	VERB
ajfa-11077	86	34	price	price	NOUN
ajfa-11077	86	35	to	to	ADP
ajfa-11077	86	36	the	the	DET
ajfa-11077	86	37	required	require	VERB
ajfa-11077	86	38	foreign	foreign	ADJ
ajfa-11077	86	39	currency	currency	NOUN
ajfa-11077	86	40	position	position	NOUN
ajfa-11077	86	41	.	.	PUNCT
ajfa-11077	87	1	hence	hence	ADV
ajfa-11077	87	2	,	,	PUNCT
ajfa-11077	87	3	the	the	DET
ajfa-11077	87	4	transaction	transaction	NOUN
ajfa-11077	87	5	costs	cost	VERB
ajfa-11077	87	6	and	and	CCONJ
ajfa-11077	87	7	carrying	carry	VERB
ajfa-11077	87	8	costs	cost	NOUN
ajfa-11077	87	9	of	of	ADP
ajfa-11077	87	10	the	the	DET
ajfa-11077	87	11	currencies	currency	NOUN
ajfa-11077	87	12	will	will	AUX
ajfa-11077	87	13	increase	increase	VERB
ajfa-11077	87	14	the	the	DET
ajfa-11077	87	15	cost	cost	NOUN
ajfa-11077	87	16	of	of	ADP
ajfa-11077	87	17	risk	risk	NOUN
ajfa-11077	87	18	reduction	reduction	NOUN
ajfa-11077	87	19	and	and	CCONJ
ajfa-11077	87	20	then	then	ADV
ajfa-11077	87	21	increase	increase	VERB
ajfa-11077	87	22	the	the	DET
ajfa-11077	87	23	liquidity	liquidity	NOUN
ajfa-11077	87	24	risk	risk	NOUN
ajfa-11077	87	25	of	of	ADP
ajfa-11077	87	26	assets	asset	NOUN
ajfa-11077	87	27	.	.	PUNCT
ajfa-11077	88	1	here	here	ADV
ajfa-11077	88	2	,	,	PUNCT
ajfa-11077	88	3	according	accord	VERB
ajfa-11077	88	4	to	to	ADP
ajfa-11077	88	5	campbell	campbell	PROPN
ajfa-11077	88	6	,	,	PUNCT
ajfa-11077	88	7	medeiros	medeiros	PROPN
ajfa-11077	88	8	,	,	PUNCT
ajfa-11077	88	9	and	and	CCONJ
ajfa-11077	88	10	viceira	viceira	PROPN
ajfa-11077	88	11	(	(	PUNCT
ajfa-11077	88	12	2010	2010	NUM
ajfa-11077	88	13	)	)	PUNCT
ajfa-11077	88	14	,	,	PUNCT
ajfa-11077	88	15	regression	regression	NOUN
ajfa-11077	88	16	models	model	NOUN
ajfa-11077	88	17	can	can	AUX
ajfa-11077	88	18	be	be	AUX
ajfa-11077	88	19	adopt	adopt	ADJ
ajfa-11077	88	20	to	to	PART
ajfa-11077	88	21	help	help	VERB
ajfa-11077	88	22	the	the	DET
ajfa-11077	88	23	company	company	NOUN
ajfa-11077	88	24	to	to	PART
ajfa-11077	88	25	find	find	VERB
ajfa-11077	88	26	out	out	ADP
ajfa-11077	88	27	the	the	DET
ajfa-11077	88	28	effect	effect	NOUN
ajfa-11077	88	29	on	on	ADP
ajfa-11077	88	30	its	its	PRON
ajfa-11077	88	31	performance	performance	NOUN
ajfa-11077	88	32	causing	cause	VERB
ajfa-11077	88	33	by	by	ADP
ajfa-11077	88	34	the	the	DET
ajfa-11077	88	35	currency	currency	NOUN
ajfa-11077	88	36	’s	’s	PART
ajfa-11077	88	37	fluctuation	fluctuation	NOUN
ajfa-11077	88	38	.	.	PUNCT
ajfa-11077	89	1	after	after	ADP
ajfa-11077	89	2	finding	find	VERB
ajfa-11077	89	3	the	the	DET
ajfa-11077	89	4	magnitudes	magnitude	NOUN
ajfa-11077	89	5	of	of	ADP
ajfa-11077	89	6	currency	currency	NOUN
ajfa-11077	89	7	fluctuations	fluctuation	NOUN
ajfa-11077	89	8	which	which	PRON
ajfa-11077	89	9	affect	affect	VERB
ajfa-11077	89	10	to	to	ADP
ajfa-11077	89	11	the	the	DET
ajfa-11077	89	12	company	company	NOUN
ajfa-11077	89	13	’s	’s	PART
ajfa-11077	89	14	performance	performance	NOUN
ajfa-11077	89	15	,	,	PUNCT
ajfa-11077	89	16	then	then	ADV
ajfa-11077	89	17	the	the	DET
ajfa-11077	89	18	framework	framework	NOUN
ajfa-11077	89	19	of	of	ADP
ajfa-11077	89	20	the	the	DET
ajfa-11077	89	21	modern	modern	ADJ
ajfa-11077	89	22	portfolio	portfolio	NOUN
ajfa-11077	89	23	theory	theory	NOUN
ajfa-11077	89	24	,	,	PUNCT
ajfa-11077	89	25	proposed	propose	VERB
ajfa-11077	89	26	by	by	ADP
ajfa-11077	89	27	bailey	bailey	PROPN
ajfa-11077	89	28	,	,	PUNCT
ajfa-11077	89	29	ng	ng	PROPN
ajfa-11077	89	30	,	,	PUNCT
ajfa-11077	89	31	and	and	CCONJ
ajfa-11077	89	32	stulz	stulz	ADJ
ajfa-11077	89	33	,	,	PUNCT
ajfa-11077	89	34	(	(	PUNCT
ajfa-11077	89	35	1992	1992	NUM
ajfa-11077	89	36	)	)	PUNCT
ajfa-11077	89	37	and	and	CCONJ
ajfa-11077	89	38	kim	kim	PROPN
ajfa-11077	89	39	(	(	PUNCT
ajfa-11077	89	40	2013	2013	NUM
ajfa-11077	89	41	)	)	PUNCT
ajfa-11077	89	42	,	,	PUNCT
ajfa-11077	89	43	can	can	AUX
ajfa-11077	89	44	be	be	AUX
ajfa-11077	89	45	used	use	VERB
ajfa-11077	89	46	to	to	PART
ajfa-11077	89	47	form	form	VERB
ajfa-11077	89	48	their	their	PRON
ajfa-11077	89	49	own	own	ADJ
ajfa-11077	89	50	foreign	foreign	ADJ
ajfa-11077	89	51	exchange	exchange	NOUN
ajfa-11077	89	52	risk	risk	NOUN
ajfa-11077	89	53	management	management	NOUN
ajfa-11077	89	54	strategies	strategy	NOUN
ajfa-11077	89	55	and	and	CCONJ
ajfa-11077	89	56	then	then	ADV
ajfa-11077	89	57	to	to	PART
ajfa-11077	89	58	reduce	reduce	VERB
ajfa-11077	89	59	the	the	DET
ajfa-11077	89	60	effect	effect	NOUN
ajfa-11077	89	61	of	of	ADP
ajfa-11077	89	62	foreign	foreign	ADJ
ajfa-11077	89	63	exchange	exchange	NOUN
ajfa-11077	89	64	exposures	exposure	NOUN
ajfa-11077	89	65	.	.	PUNCT
ajfa-11077	90	1	this	this	DET
ajfa-11077	90	2	study	study	NOUN
ajfa-11077	90	3	applies	apply	VERB
ajfa-11077	90	4	the	the	DET
ajfa-11077	90	5	framework	framework	NOUN
ajfa-11077	90	6	of	of	ADP
ajfa-11077	90	7	kim	kim	PROPN
ajfa-11077	90	8	(	(	PUNCT
ajfa-11077	90	9	2013	2013	NUM
ajfa-11077	90	10	)	)	PUNCT
ajfa-11077	90	11	to	to	PART
ajfa-11077	90	12	investigate	investigate	VERB
ajfa-11077	90	13	the	the	DET
ajfa-11077	90	14	effects	effect	NOUN
ajfa-11077	90	15	of	of	ADP
ajfa-11077	90	16	foreign	foreign	ADJ
ajfa-11077	90	17	exchange	exchange	NOUN
ajfa-11077	90	18	exposures	exposure	NOUN
ajfa-11077	90	19	on	on	ADP
ajfa-11077	90	20	the	the	DET
ajfa-11077	90	21	performance	performance	NOUN
ajfa-11077	90	22	of	of	ADP
ajfa-11077	90	23	taiwan	taiwan	PROPN
ajfa-11077	90	24	hospitality	hospitality	NOUN
ajfa-11077	90	25	industry	industry	NOUN
ajfa-11077	90	26	and	and	CCONJ
ajfa-11077	90	27	try	try	VERB
ajfa-11077	90	28	to	to	PART
ajfa-11077	90	29	propose	propose	VERB
ajfa-11077	90	30	some	some	DET
ajfa-11077	90	31	hedging	hedging	NOUN
ajfa-11077	90	32	strategies	strategy	NOUN
ajfa-11077	90	33	and	and	CCONJ
ajfa-11077	90	34	strengthen	strengthen	VERB
ajfa-11077	90	35	their	their	PRON
ajfa-11077	90	36	corporate	corporate	ADJ
ajfa-11077	90	37	risk	risk	NOUN
ajfa-11077	90	38	management	management	NOUN
ajfa-11077	90	39	.	.	PUNCT
ajfa-11077	91	1	therefore	therefore	ADV
ajfa-11077	91	2	,	,	PUNCT
ajfa-11077	91	3	as	as	ADP
ajfa-11077	91	4	the	the	DET
ajfa-11077	91	5	shown	show	VERB
ajfa-11077	91	6	in	in	ADP
ajfa-11077	91	7	jorion	jorion	NOUN
ajfa-11077	91	8	(	(	PUNCT
ajfa-11077	91	9	1991	1991	NUM
ajfa-11077	91	10	)	)	PUNCT
ajfa-11077	91	11	,	,	PUNCT
ajfa-11077	91	12	i	i	PRON
ajfa-11077	91	13	will	will	AUX
ajfa-11077	91	14	impose	impose	VERB
ajfa-11077	91	15	the	the	DET
ajfa-11077	91	16	changes	change	NOUN
ajfa-11077	91	17	of	of	ADP
ajfa-11077	91	18	asian	asian	ADJ
ajfa-11077	91	19	journal	journal	NOUN
ajfa-11077	91	20	of	of	ADP
ajfa-11077	91	21	finance	finance	PROPN
ajfa-11077	91	22	&	&	CCONJ
ajfa-11077	91	23	accounting	accounting	PROPN
ajfa-11077	91	24	issn	issn	PROPN
ajfa-11077	91	25	1946	1946	NUM
ajfa-11077	91	26	-	-	PUNCT
ajfa-11077	91	27	052x	052x	PROPN
ajfa-11077	91	28	2017	2017	NUM
ajfa-11077	91	29	,	,	PUNCT
ajfa-11077	91	30	vol	vol	NOUN
ajfa-11077	91	31	.	.	NOUN
ajfa-11077	91	32	9	9	NUM
ajfa-11077	91	33	,	,	PUNCT
ajfa-11077	91	34	no	no	INTJ
ajfa-11077	91	35	.	.	NOUN
ajfa-11077	91	36	1	1	NUM
ajfa-11077	91	37	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	91	38	279	279	NUM
ajfa-11077	91	39	exchange	exchange	NOUN
ajfa-11077	91	40	rates	rate	NOUN
ajfa-11077	91	41	of	of	ADP
ajfa-11077	91	42	several	several	ADJ
ajfa-11077	91	43	currencies	currency	NOUN
ajfa-11077	91	44	to	to	PART
ajfa-11077	91	45	study	study	VERB
ajfa-11077	91	46	the	the	DET
ajfa-11077	91	47	effects	effect	NOUN
ajfa-11077	91	48	of	of	ADP
ajfa-11077	91	49	the	the	DET
ajfa-11077	91	50	fluctuations	fluctuation	NOUN
ajfa-11077	91	51	of	of	ADP
ajfa-11077	91	52	exchange	exchange	NOUN
ajfa-11077	91	53	rates	rate	NOUN
ajfa-11077	91	54	on	on	ADP
ajfa-11077	91	55	the	the	DET
ajfa-11077	91	56	performance	performance	NOUN
ajfa-11077	91	57	of	of	ADP
ajfa-11077	91	58	taiwan	taiwan	PROPN
ajfa-11077	91	59	hotel	hotel	NOUN
ajfa-11077	91	60	companies	company	NOUN
ajfa-11077	91	61	.	.	PUNCT
ajfa-11077	92	1	3	3	X
ajfa-11077	92	2	.	.	NOUN
ajfa-11077	92	3	methodologies	methodology	NOUN
ajfa-11077	92	4	3	3	NUM
ajfa-11077	92	5	-	-	SYM
ajfa-11077	92	6	1	1	NUM
ajfa-11077	92	7	.	.	PUNCT
ajfa-11077	92	8	modern	modern	ADJ
ajfa-11077	92	9	portfolio	portfolio	NOUN
ajfa-11077	92	10	theory	theory	NOUN
ajfa-11077	92	11	,	,	PUNCT
ajfa-11077	92	12	mpt	mpt	PROPN
ajfa-11077	92	13	modern	modern	ADJ
ajfa-11077	92	14	portfolio	portfolio	NOUN
ajfa-11077	92	15	theory	theory	NOUN
ajfa-11077	92	16	is	be	AUX
ajfa-11077	92	17	proposed	propose	VERB
ajfa-11077	92	18	by	by	ADP
ajfa-11077	92	19	markowitz	markowitz	PROPN
ajfa-11077	92	20	in	in	ADP
ajfa-11077	92	21	1952.in	1952.in	NUM
ajfa-11077	92	22	the	the	DET
ajfa-11077	92	23	paper	paper	NOUN
ajfa-11077	92	24	,	,	PUNCT
ajfa-11077	92	25	probability	probability	NOUN
ajfa-11077	92	26	theory	theory	NOUN
ajfa-11077	92	27	and	and	CCONJ
ajfa-11077	92	28	linear	linear	PROPN
ajfa-11077	92	29	algebra	algebra	NOUN
ajfa-11077	92	30	method	method	NOUN
ajfa-11077	92	31	are	be	AUX
ajfa-11077	92	32	applied	apply	VERB
ajfa-11077	92	33	to	to	PART
ajfa-11077	92	34	investigate	investigate	VERB
ajfa-11077	92	35	the	the	DET
ajfa-11077	92	36	correlation	correlation	NOUN
ajfa-11077	92	37	between	between	ADP
ajfa-11077	92	38	the	the	DET
ajfa-11077	92	39	securities	security	NOUN
ajfa-11077	92	40	.	.	PUNCT
ajfa-11077	93	1	it	it	PRON
ajfa-11077	93	2	puts	put	VERB
ajfa-11077	93	3	forward	forward	ADV
ajfa-11077	93	4	the	the	DET
ajfa-11077	93	5	possibility	possibility	NOUN
ajfa-11077	93	6	to	to	PART
ajfa-11077	93	7	diversify	diversify	VERB
ajfa-11077	93	8	the	the	DET
ajfa-11077	93	9	main	main	ADJ
ajfa-11077	93	10	investment	investment	NOUN
ajfa-11077	93	11	risks	risk	NOUN
ajfa-11077	93	12	for	for	ADP
ajfa-11077	93	13	this	this	DET
ajfa-11077	93	14	theory	theory	NOUN
ajfa-11077	93	15	that	that	SCONJ
ajfa-11077	93	16	regardless	regardless	ADV
ajfa-11077	93	17	of	of	ADP
ajfa-11077	93	18	the	the	DET
ajfa-11077	93	19	dispersion	dispersion	NOUN
ajfa-11077	93	20	of	of	ADP
ajfa-11077	93	21	individual	individual	ADJ
ajfa-11077	93	22	investment	investment	NOUN
ajfa-11077	93	23	targets	target	VERB
ajfa-11077	93	24	the	the	DET
ajfa-11077	93	25	risks	risk	NOUN
ajfa-11077	93	26	associated	associate	VERB
ajfa-11077	93	27	with	with	ADP
ajfa-11077	93	28	some	some	DET
ajfa-11077	93	29	other	other	ADJ
ajfa-11077	93	30	securities	security	NOUN
ajfa-11077	93	31	can	can	AUX
ajfa-11077	93	32	reduce	reduce	VERB
ajfa-11077	93	33	the	the	DET
ajfa-11077	93	34	risk	risk	NOUN
ajfa-11077	93	35	.	.	PUNCT
ajfa-11077	94	1	in	in	ADP
ajfa-11077	94	2	this	this	DET
ajfa-11077	94	3	way	way	NOUN
ajfa-11077	94	4	,	,	PUNCT
ajfa-11077	94	5	individual	individual	ADJ
ajfa-11077	94	6	company	company	NOUN
ajfa-11077	94	7	information	information	NOUN
ajfa-11077	94	8	becomes	become	VERB
ajfa-11077	94	9	less	less	ADV
ajfa-11077	94	10	important	important	ADJ
ajfa-11077	94	11	.	.	PUNCT
ajfa-11077	95	1	the	the	DET
ajfa-11077	95	2	theory	theory	NOUN
ajfa-11077	95	3	is	be	AUX
ajfa-11077	95	4	mainly	mainly	ADV
ajfa-11077	95	5	to	to	PART
ajfa-11077	95	6	solve	solve	VERB
ajfa-11077	95	7	an	an	DET
ajfa-11077	95	8	investor	investor	NOUN
ajfa-11077	95	9	’s	’s	PART
ajfa-11077	95	10	risk	risk	NOUN
ajfa-11077	95	11	-	-	PUNCT
ajfa-11077	95	12	reward	reward	NOUN
ajfa-11077	95	13	problem	problem	NOUN
ajfa-11077	95	14	and	and	CCONJ
ajfa-11077	95	15	to	to	PART
ajfa-11077	95	16	form	form	VERB
ajfa-11077	95	17	a	a	DET
ajfa-11077	95	18	rational	rational	ADJ
ajfa-11077	95	19	combination	combination	NOUN
ajfa-11077	95	20	of	of	ADP
ajfa-11077	95	21	his	his	PRON
ajfa-11077	95	22	/	/	SYM
ajfa-11077	95	23	her	her	PRON
ajfa-11077	95	24	own	own	ADJ
ajfa-11077	95	25	funds	fund	NOUN
ajfa-11077	95	26	in	in	ADP
ajfa-11077	95	27	order	order	NOUN
ajfa-11077	95	28	to	to	PART
ajfa-11077	95	29	maximize	maximize	VERB
ajfa-11077	95	30	the	the	DET
ajfa-11077	95	31	proceeds	proceed	NOUN
ajfa-11077	95	32	.	.	PUNCT
ajfa-11077	96	1	according	accord	VERB
ajfa-11077	96	2	to	to	ADP
ajfa-11077	96	3	the	the	DET
ajfa-11077	96	4	markowitz	markowitz	PROPN
ajfa-11077	96	5	’s	’s	PART
ajfa-11077	96	6	framework	framework	NOUN
ajfa-11077	96	7	,	,	PUNCT
ajfa-11077	96	8	there	there	PRON
ajfa-11077	96	9	is	be	VERB
ajfa-11077	96	10	a	a	DET
ajfa-11077	96	11	certain	certain	ADJ
ajfa-11077	96	12	special	special	ADJ
ajfa-11077	96	13	relationship	relationship	NOUN
ajfa-11077	96	14	between	between	ADP
ajfa-11077	96	15	investment	investment	NOUN
ajfa-11077	96	16	risk	risk	NOUN
ajfa-11077	96	17	and	and	CCONJ
ajfa-11077	96	18	return	return	NOUN
ajfa-11077	96	19	of	of	ADP
ajfa-11077	96	20	a	a	DET
ajfa-11077	96	21	portfolio	portfolio	NOUN
ajfa-11077	96	22	of	of	ADP
ajfa-11077	96	23	financial	financial	ADJ
ajfa-11077	96	24	assets	asset	NOUN
ajfa-11077	96	25	.	.	PUNCT
ajfa-11077	97	1	his	his	PRON
ajfa-11077	97	2	assumptions	assumption	NOUN
ajfa-11077	97	3	are	be	AUX
ajfa-11077	97	4	based	base	VERB
ajfa-11077	97	5	on	on	ADP
ajfa-11077	97	6	four	four	NUM
ajfa-11077	97	7	conditions	condition	NOUN
ajfa-11077	97	8	:	:	PUNCT
ajfa-11077	97	9	1	1	X
ajfa-11077	97	10	.	.	X
ajfa-11077	97	11	assume	assume	VERB
ajfa-11077	97	12	the	the	DET
ajfa-11077	97	13	market	market	NOUN
ajfa-11077	97	14	is	be	AUX
ajfa-11077	97	15	efficient	efficient	ADJ
ajfa-11077	97	16	,	,	PUNCT
ajfa-11077	97	17	investors	investor	NOUN
ajfa-11077	97	18	can	can	AUX
ajfa-11077	97	19	learn	learn	VERB
ajfa-11077	97	20	more	more	ADJ
ajfa-11077	97	21	of	of	ADP
ajfa-11077	97	22	the	the	DET
ajfa-11077	97	23	benefits	benefit	NOUN
ajfa-11077	97	24	and	and	CCONJ
ajfa-11077	97	25	risks	risk	NOUN
ajfa-11077	97	26	of	of	ADP
ajfa-11077	97	27	financial	financial	ADJ
ajfa-11077	97	28	market	market	NOUN
ajfa-11077	97	29	changes	change	NOUN
ajfa-11077	97	30	and	and	CCONJ
ajfa-11077	97	31	their	their	PRON
ajfa-11077	97	32	causes	cause	NOUN
ajfa-11077	97	33	.	.	PUNCT
ajfa-11077	98	1	2	2	X
ajfa-11077	98	2	.	.	X
ajfa-11077	98	3	suppose	suppose	VERB
ajfa-11077	98	4	investors	investor	NOUN
ajfa-11077	98	5	are	be	AUX
ajfa-11077	98	6	risk	risk	NOUN
ajfa-11077	98	7	averse	averse	ADJ
ajfa-11077	98	8	and	and	CCONJ
ajfa-11077	98	9	are	be	AUX
ajfa-11077	98	10	willing	willing	ADJ
ajfa-11077	98	11	to	to	PART
ajfa-11077	98	12	get	get	VERB
ajfa-11077	98	13	a	a	DET
ajfa-11077	98	14	higher	high	ADJ
ajfa-11077	98	15	rate	rate	NOUN
ajfa-11077	98	16	of	of	ADP
ajfa-11077	98	17	return	return	NOUN
ajfa-11077	98	18	if	if	SCONJ
ajfa-11077	98	19	they	they	PRON
ajfa-11077	98	20	must	must	AUX
ajfa-11077	98	21	bear	bear	VERB
ajfa-11077	98	22	a	a	DET
ajfa-11077	98	23	greater	great	ADJ
ajfa-11077	98	24	risk	risk	NOUN
ajfa-11077	98	25	to	to	PART
ajfa-11077	98	26	get	get	VERB
ajfa-11077	98	27	a	a	DET
ajfa-11077	98	28	higher	high	ADJ
ajfa-11077	98	29	expected	expect	VERB
ajfa-11077	98	30	return	return	NOUN
ajfa-11077	98	31	as	as	ADP
ajfa-11077	98	32	compensation	compensation	NOUN
ajfa-11077	98	33	.	.	PUNCT
ajfa-11077	99	1	risk	risk	NOUN
ajfa-11077	99	2	is	be	AUX
ajfa-11077	99	3	the	the	DET
ajfa-11077	99	4	variability	variability	NOUN
ajfa-11077	99	5	of	of	ADP
ajfa-11077	99	6	yields	yield	NOUN
ajfa-11077	99	7	as	as	SCONJ
ajfa-11077	99	8	measured	measure	VERB
ajfa-11077	99	9	by	by	ADP
ajfa-11077	99	10	standard	standard	ADJ
ajfa-11077	99	11	deviation	deviation	NOUN
ajfa-11077	99	12	.	.	PUNCT
ajfa-11077	100	1	3	3	X
ajfa-11077	100	2	.	.	X
ajfa-11077	100	3	investors	investor	NOUN
ajfa-11077	100	4	’	’	PART
ajfa-11077	100	5	choices	choice	NOUN
ajfa-11077	100	6	are	be	AUX
ajfa-11077	100	7	based	base	VERB
ajfa-11077	100	8	on	on	ADP
ajfa-11077	100	9	the	the	DET
ajfa-11077	100	10	expected	expect	VERB
ajfa-11077	100	11	returns	return	NOUN
ajfa-11077	100	12	and	and	CCONJ
ajfa-11077	100	13	standard	standard	ADJ
ajfa-11077	100	14	deviations	deviation	NOUN
ajfa-11077	100	15	of	of	ADP
ajfa-11077	100	16	selected	select	VERB
ajfa-11077	100	17	financial	financial	ADJ
ajfa-11077	100	18	assets	asset	NOUN
ajfa-11077	100	19	portfolio	portfolio	NOUN
ajfa-11077	100	20	.	.	PUNCT
ajfa-11077	101	1	they	they	PRON
ajfa-11077	101	2	select	select	VERB
ajfa-11077	101	3	portfolios	portfolio	NOUN
ajfa-11077	101	4	with	with	ADP
ajfa-11077	101	5	higher	high	ADJ
ajfa-11077	101	6	yields	yield	NOUN
ajfa-11077	101	7	or	or	CCONJ
ajfa-11077	101	8	lower	low	ADJ
ajfa-11077	101	9	risk	risk	NOUN
ajfa-11077	101	10	.	.	PUNCT
ajfa-11077	102	1	4	4	X
ajfa-11077	102	2	.	.	X
ajfa-11077	102	3	the	the	DET
ajfa-11077	102	4	incomes	income	NOUN
ajfa-11077	102	5	between	between	ADP
ajfa-11077	102	6	various	various	ADJ
ajfa-11077	102	7	financial	financial	ADJ
ajfa-11077	102	8	assets	asset	NOUN
ajfa-11077	102	9	are	be	AUX
ajfa-11077	102	10	correlated	correlate	VERB
ajfa-11077	102	11	with	with	ADP
ajfa-11077	102	12	the	the	DET
ajfa-11077	102	13	correlation	correlation	NOUN
ajfa-11077	102	14	coefficient	coefficient	NOUN
ajfa-11077	102	15	between	between	ADP
ajfa-11077	102	16	each	each	DET
ajfa-11077	102	17	financial	financial	ADJ
ajfa-11077	102	18	asset	asset	NOUN
ajfa-11077	102	19	,	,	PUNCT
ajfa-11077	102	20	it	it	PRON
ajfa-11077	102	21	is	be	AUX
ajfa-11077	102	22	possible	possible	ADJ
ajfa-11077	102	23	to	to	PART
ajfa-11077	102	24	choose	choose	VERB
ajfa-11077	102	25	the	the	DET
ajfa-11077	102	26	lowest	low	ADJ
ajfa-11077	102	27	risk	risk	NOUN
ajfa-11077	102	28	of	of	ADP
ajfa-11077	102	29	the	the	DET
ajfa-11077	102	30	portfolio	portfolio	NOUN
ajfa-11077	102	31	.	.	PUNCT
ajfa-11077	103	1	an	an	DET
ajfa-11077	103	2	efficient	efficient	ADJ
ajfa-11077	103	3	portfolio	portfolio	NOUN
ajfa-11077	103	4	should	should	AUX
ajfa-11077	103	5	be	be	AUX
ajfa-11077	103	6	subject	subject	ADJ
ajfa-11077	103	7	to	to	ADP
ajfa-11077	103	8	the	the	DET
ajfa-11077	103	9	following	following	ADJ
ajfa-11077	103	10	conditions	condition	NOUN
ajfa-11077	103	11	:	:	PUNCT
ajfa-11077	103	12	under	under	ADP
ajfa-11077	103	13	certain	certain	ADJ
ajfa-11077	103	14	risk	risk	NOUN
ajfa-11077	103	15	(	(	PUNCT
ajfa-11077	103	16	standard	standard	ADJ
ajfa-11077	103	17	deviation).this	deviation).this	NOUN
ajfa-11077	103	18	combination	combination	NOUN
ajfa-11077	103	19	of	of	ADP
ajfa-11077	103	20	securities	security	NOUN
ajfa-11077	103	21	has	have	VERB
ajfa-11077	103	22	the	the	DET
ajfa-11077	103	23	highest	high	ADJ
ajfa-11077	103	24	average	average	ADJ
ajfa-11077	103	25	reward	reward	NOUN
ajfa-11077	103	26	;	;	PUNCT
ajfa-11077	103	27	and	and	CCONJ
ajfa-11077	103	28	in	in	ADP
ajfa-11077	103	29	certain	certain	ADJ
ajfa-11077	103	30	average	average	ADJ
ajfa-11077	103	31	reward	reward	NOUN
ajfa-11077	103	32	,	,	PUNCT
ajfa-11077	103	33	it	it	PRON
ajfa-11077	103	34	has	have	VERB
ajfa-11077	103	35	the	the	DET
ajfa-11077	103	36	lowest	low	ADJ
ajfa-11077	103	37	degree	degree	NOUN
ajfa-11077	103	38	of	of	ADP
ajfa-11077	103	39	risk	risk	NOUN
ajfa-11077	103	40	(	(	PUNCT
ajfa-11077	103	41	standard	standard	ADJ
ajfa-11077	103	42	deviation).therefore	deviation).therefore	NOUN
ajfa-11077	103	43	,	,	PUNCT
ajfa-11077	103	44	the	the	DET
ajfa-11077	103	45	portfolio	portfolio	NOUN
ajfa-11077	103	46	should	should	AUX
ajfa-11077	103	47	be	be	AUX
ajfa-11077	103	48	on	on	ADP
ajfa-11077	103	49	the	the	DET
ajfa-11077	103	50	curve	curve	NOUN
ajfa-11077	103	51	of	of	ADP
ajfa-11077	103	52	efficient	efficient	ADJ
ajfa-11077	103	53	frontier	frontier	NOUN
ajfa-11077	103	54	.	.	PUNCT
ajfa-11077	104	1	according	accord	VERB
ajfa-11077	104	2	to	to	ADP
ajfa-11077	104	3	huang	huang	PROPN
ajfa-11077	104	4	and	and	CCONJ
ajfa-11077	104	5	litzenberger	litzenberger	NOUN
ajfa-11077	104	6	(	(	PUNCT
ajfa-11077	104	7	1988)and	1988)and	NUM
ajfa-11077	104	8	elton	elton	NOUN
ajfa-11077	104	9	,	,	PUNCT
ajfa-11077	104	10	gruber	gruber	PROPN
ajfa-11077	104	11	,	,	PUNCT
ajfa-11077	104	12	brown	brown	ADJ
ajfa-11077	104	13	,	,	PUNCT
ajfa-11077	104	14	and	and	CCONJ
ajfa-11077	104	15	goetzmann	goetzmann	PROPN
ajfa-11077	104	16	(	(	PUNCT
ajfa-11077	104	17	2007	2007	NUM
ajfa-11077	104	18	)	)	PUNCT
ajfa-11077	104	19	,	,	PUNCT
ajfa-11077	104	20	suppose	suppose	VERB
ajfa-11077	104	21	an	an	DET
ajfa-11077	104	22	economy	economy	NOUN
ajfa-11077	104	23	which	which	PRON
ajfa-11077	104	24	there	there	PRON
ajfa-11077	104	25	are	be	VERB
ajfa-11077	104	26	n	n	PRON
ajfa-11077	104	27	risky	risky	ADJ
ajfa-11077	104	28	assets	asset	NOUN
ajfa-11077	104	29	with	with	ADP
ajfa-11077	104	30	its	its	PRON
ajfa-11077	104	31	return	return	NOUN
ajfa-11077	104	32	and	and	CCONJ
ajfa-11077	104	33	standard	standard	ADJ
ajfa-11077	104	34	deviation	deviation	NOUN
ajfa-11077	104	35	ir	ir	NOUN
ajfa-11077	104	36	and	and	CCONJ
ajfa-11077	104	37	iσ	iσ	INTJ
ajfa-11077	104	38	,	,	PUNCT
ajfa-11077	104	39	ni	ni	PROPN
ajfa-11077	104	40	,	,	PUNCT
ajfa-11077	104	41	,	,	PUNCT
ajfa-11077	104	42	,	,	PUNCT
ajfa-11077	104	43	21=	21=	NOUN
ajfa-11077	104	44	,	,	PUNCT
ajfa-11077	104	45	respectively	respectively	ADV
ajfa-11077	104	46	.	.	PUNCT
ajfa-11077	105	1	moreover	moreover	ADV
ajfa-11077	105	2	,	,	PUNCT
ajfa-11077	105	3	the	the	DET
ajfa-11077	105	4	covariance	covariance	NOUN
ajfa-11077	105	5	between	between	ADP
ajfa-11077	105	6	any	any	DET
ajfa-11077	105	7	two	two	NUM
ajfa-11077	105	8	assets	asset	NOUN
ajfa-11077	105	9	is	be	AUX
ajfa-11077	105	10	(	(	PUNCT
ajfa-11077	105	11	)	)	PUNCT
ajfa-11077	105	12	jiji	jiji	PROPN
ajfa-11077	105	13	rrcov	rrcov	VERB
ajfa-11077	105	14	,	,	PUNCT
ajfa-11077	105	15	≡,σ	≡,σ	PROPN
ajfa-11077	105	16	，	，	PUNCT
ajfa-11077	105	17	nji	nji	PROPN
ajfa-11077	105	18	,	,	PUNCT
ajfa-11077	105	19	,	,	PUNCT
ajfa-11077	105	20	,	,	PUNCT
ajfa-11077	105	21	21=≠	21=≠	NOUN
ajfa-11077	105	22	.	.	PUNCT
ajfa-11077	106	1	if	if	SCONJ
ajfa-11077	106	2	we	we	PRON
ajfa-11077	106	3	denote	denote	VERB
ajfa-11077	106	4	the	the	DET
ajfa-11077	106	5	portfolio	portfolio	NOUN
ajfa-11077	106	6	weight	weight	NOUN
ajfa-11077	106	7	on	on	ADP
ajfa-11077	106	8	each	each	DET
ajfa-11077	106	9	assets	asset	NOUN
ajfa-11077	106	10	in	in	ADP
ajfa-11077	106	11	the	the	DET
ajfa-11077	106	12	portfolio	portfolio	NOUN
ajfa-11077	106	13	to	to	PART
ajfa-11077	106	14	be	be	AUX
ajfa-11077	106	15	iw	iw	PROPN
ajfa-11077	106	16	,	,	PUNCT
ajfa-11077	106	17	ni	ni	PROPN
ajfa-11077	106	18	,	,	PUNCT
ajfa-11077	106	19	,	,	PUNCT
ajfa-11077	106	20	,	,	PUNCT
ajfa-11077	106	21	21=	21=	NOUN
ajfa-11077	106	22	,	,	PUNCT
ajfa-11077	106	23	then	then	ADV
ajfa-11077	106	24	the	the	DET
ajfa-11077	106	25	expected	expect	VERB
ajfa-11077	106	26	return	return	NOUN
ajfa-11077	106	27	of	of	ADP
ajfa-11077	106	28	the	the	DET
ajfa-11077	106	29	portfolio	portfolio	NOUN
ajfa-11077	106	30	is	be	AUX
ajfa-11077	106	31	rwp	rwp	ADJ
ajfa-11077	106	32	⋅′≡μ	⋅′≡μ	NOUN
ajfa-11077	106	33	,	,	PUNCT
ajfa-11077	106	34	where	where	SCONJ
ajfa-11077	106	35	(	(	PUNCT
ajfa-11077	106	36	)	)	PUNCT
ajfa-11077	106	37	′≡	′≡	NOUN
ajfa-11077	106	38	nrrrr	nrrrr	NOUN
ajfa-11077	106	39	,	,	PUNCT
ajfa-11077	106	40	,	,	PUNCT
ajfa-11077	106	41	,	,	PUNCT
ajfa-11077	106	42	21	21	PROPN
ajfa-11077	106	43	and	and	CCONJ
ajfa-11077	106	44	(	(	PUNCT
ajfa-11077	106	45	)	)	PUNCT
ajfa-11077	106	46	′≡	′≡	NOUN
ajfa-11077	106	47	nwwww	nwwww	ADJ
ajfa-11077	106	48	,	,	PUNCT
ajfa-11077	106	49	,	,	PUNCT
ajfa-11077	106	50	,	,	PUNCT
ajfa-11077	106	51	21	21	X
ajfa-11077	106	52	。	。	PROPN
ajfa-11077	106	53	and	and	CCONJ
ajfa-11077	106	54	the	the	DET
ajfa-11077	106	55	variance	variance	NOUN
ajfa-11077	106	56	of	of	ADP
ajfa-11077	106	57	asian	asian	ADJ
ajfa-11077	106	58	journal	journal	NOUN
ajfa-11077	106	59	of	of	ADP
ajfa-11077	106	60	finance	finance	PROPN
ajfa-11077	106	61	&	&	CCONJ
ajfa-11077	106	62	accounting	accounting	PROPN
ajfa-11077	106	63	issn	issn	PROPN
ajfa-11077	106	64	1946	1946	NUM
ajfa-11077	106	65	-	-	PUNCT
ajfa-11077	106	66	052x	052x	PROPN
ajfa-11077	106	67	2017	2017	NUM
ajfa-11077	106	68	,	,	PUNCT
ajfa-11077	106	69	vol	vol	NOUN
ajfa-11077	106	70	.	.	NOUN
ajfa-11077	107	1	9	9	NUM
ajfa-11077	107	2	,	,	PUNCT
ajfa-11077	107	3	no	no	INTJ
ajfa-11077	107	4	.	.	NOUN
ajfa-11077	107	5	1	1	NUM
ajfa-11077	107	6	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-11077	107	7	280	280	NUM
ajfa-11077	107	8	the	the	DET
ajfa-11077	107	9	portfolio	portfolio	NOUN
ajfa-11077	107	10	is	be	AUX
ajfa-11077	107	11	wwp	wwp	PROPN
ajfa-11077	107	12	⋅σ⋅′≡2σ	⋅σ⋅′≡2σ	PROPN
ajfa-11077	107	13	,	,	PUNCT
ajfa-11077	107	14	where	where	SCONJ
ajfa-11077	107	15	(	(	PUNCT
ajfa-11077	107	16	)	)	PUNCT
ajfa-11077	107	17	(	(	PUNCT
ajfa-11077	107	18	)	)	PUNCT
ajfa-11077	107	19	nnjirvar	nnjirvar	NOUN
ajfa-11077	107	20	×	×	PROPN
ajfa-11077	107	21	=	=	SYM
ajfa-11077	107	22	≡σ	≡σ	PROPN
ajfa-11077	107	23	,	,	PUNCT
ajfa-11077	107	24	σ	σ	PROPN
ajfa-11077	107	25	the	the	DET
ajfa-11077	107	26	variance	variance	NOUN
ajfa-11077	107	27	-	-	PUNCT
ajfa-11077	107	28	covariance	covariance	NOUN
ajfa-11077	107	29	matrix	matrix	NOUN
ajfa-11077	107	30	is	be	AUX
ajfa-11077	107	31	.	.	PUNCT
ajfa-11077	108	1	hence	hence	ADV
ajfa-11077	108	2	,	,	PUNCT
ajfa-11077	108	3	in	in	ADP
ajfa-11077	108	4	the	the	DET
ajfa-11077	108	5	framework	framework	NOUN
ajfa-11077	108	6	of	of	ADP
ajfa-11077	108	7	markowitz	markowitz	PROPN
ajfa-11077	108	8	(	(	PUNCT
ajfa-11077	108	9	1952	1952	NUM
ajfa-11077	108	10	)	)	PUNCT
ajfa-11077	108	11	and	and	CCONJ
ajfa-11077	108	12	kim	kim	PROPN
ajfa-11077	108	13	(	(	PUNCT
ajfa-11077	108	14	2013	2013	NUM
ajfa-11077	108	15	)	)	PUNCT
ajfa-11077	108	16	,	,	PUNCT
ajfa-11077	108	17	we	we	PRON
ajfa-11077	108	18	have	have	VERB
ajfa-11077	108	19	to	to	PART
ajfa-11077	108	20	minimize	minimize	VERB
ajfa-11077	108	21	the	the	DET
ajfa-11077	108	22	degree	degree	NOUN
ajfa-11077	108	23	of	of	ADP
ajfa-11077	108	24	risk	risk	NOUN
ajfa-11077	108	25	of	of	ADP
ajfa-11077	108	26	the	the	DET
ajfa-11077	108	27	portfolio	portfolio	NOUN
ajfa-11077	108	28	under	under	ADP
ajfa-11077	108	29	a	a	DET
ajfa-11077	108	30	pre	pre	ADJ
ajfa-11077	108	31	-	-	ADJ
ajfa-11077	108	32	specified	specified	ADJ
ajfa-11077	108	33	return	return	NOUN
ajfa-11077	108	34	,	,	PUNCT
ajfa-11077	108	35	0μ	0μ	NOUN
ajfa-11077	108	36	,	,	PUNCT
ajfa-11077	108	37	and	and	CCONJ
ajfa-11077	108	38	budget	budget	NOUN
ajfa-11077	108	39	constrain	constrain	NOUN
ajfa-11077	108	40	.	.	PUNCT
ajfa-11077	109	1	namely	namely	ADV
ajfa-11077	109	2	,	,	PUNCT
ajfa-11077	109	3	wwp	wwp	PROPN
ajfa-11077	109	4	wi	wi	PROPN
ajfa-11077	109	5	⋅σ⋅′=	⋅σ⋅′=	PUNCT
ajfa-11077	109	6	2	2	NUM
ajfa-11077	109	7	1	1	NUM
ajfa-11077	109	8	2	2	NUM
ajfa-11077	109	9	2	2	NUM
ajfa-11077	109	10	min	min	NOUN
ajfa-11077	109	11	σ	σ	NOUN
ajfa-11077	109	12	(	(	PUNCT
ajfa-11077	109	13	1	1	NUM
ajfa-11077	109	14	)	)	PUNCT
ajfa-11077	109	15			NUM
ajfa-11077	109	16			NUM
ajfa-11077	109	17			NUM
ajfa-11077	109	18			NOUN
ajfa-11077	109	19			NOUN
ajfa-11077	109	20			ADP
ajfa-11077	110	1	=	=	PUNCT
ajfa-11077	110	2	≤≤	≤≤	X
ajfa-11077	110	3	=	=	ADJ
ajfa-11077	110	4	=	=	NUM
ajfa-11077	110	5	⋅′	⋅′	ADJ
ajfa-11077	110	6	≥⋅′=	≥⋅′=	NOUN
ajfa-11077	110	7			X
ajfa-11077	110	8	=	=	SYM
ajfa-11077	110	9	niw	niw	PROPN
ajfa-11077	110	10	wwj	wwj	ADV
ajfa-11077	110	11	rw	rw	NOUN
ajfa-11077	110	12	ts	ts	ADP
ajfa-11077	110	13	i	i	PRON
ajfa-11077	110	14	n	n	VERB
ajfa-11077	110	15	i	i	PRON
ajfa-11077	110	16	in	in	ADP
ajfa-11077	110	17	p	p	PROPN
ajfa-11077	110	18	,	,	PUNCT
ajfa-11077	110	19	,	,	PUNCT
ajfa-11077	110	20	,	,	PUNCT
ajfa-11077	110	21	,	,	PUNCT
ajfa-11077	110	22	2110	2110	PROPN
ajfa-11077	110	23	1	1	NUM
ajfa-11077	110	24	..	..	SYM
ajfa-11077	110	25	1	1	NUM
ajfa-11077	110	26	0μμ	0μμ	NOUN
ajfa-11077	110	27	(	(	PUNCT
ajfa-11077	110	28	2	2	NUM
ajfa-11077	110	29	)	)	PUNCT
ajfa-11077	110	30	where	where	SCONJ
ajfa-11077	110	31	,	,	PUNCT
ajfa-11077	110	32	(	(	PUNCT
ajfa-11077	110	33	)	)	PUNCT
ajfa-11077	110	34	n	n	X
ajfa-11077	110	35	nj	nj	PROPN
ajfa-11077	110	36	ℜ∈′=	ℜ∈′=	PROPN
ajfa-11077	110	37	111	111	NUM
ajfa-11077	110	38	,	,	PUNCT
ajfa-11077	110	39	,	,	PUNCT
ajfa-11077	110	40	,	,	PUNCT
ajfa-11077	110	41			NOUN
ajfa-11077	110	42	.	.	PUNCT
ajfa-11077	111	1	using	use	VERB
ajfa-11077	111	2	the	the	DET
ajfa-11077	111	3	lagrange	lagrange	NOUN
ajfa-11077	111	4	multipliers	multiplier	NOUN
ajfa-11077	111	5	method	method	NOUN
ajfa-11077	111	6	,	,	PUNCT
ajfa-11077	111	7	the	the	DET
ajfa-11077	111	8	above	above	ADJ
ajfa-11077	111	9	problem	problem	NOUN
ajfa-11077	111	10	can	can	AUX
ajfa-11077	111	11	be	be	AUX
ajfa-11077	111	12	transformed	transform	VERB
ajfa-11077	111	13	as	as	SCONJ
ajfa-11077	111	14	follows	follow	VERB
ajfa-11077	111	15	:	:	PUNCT
ajfa-11077	111	16	(	(	PUNCT
ajfa-11077	111	17	)	)	PUNCT
ajfa-11077	112	1	(	(	PUNCT
ajfa-11077	112	2	)	)	PUNCT
ajfa-11077	112	3			PROPN
ajfa-11077	112	4			NOUN
ajfa-11077	112	5			ADJ
ajfa-11077	112	6			PROPN
ajfa-11077	112	7			NOUN
ajfa-11077	112	8	⋅′−⋅+⋅′−⋅+⋅σ⋅′=	⋅′−⋅+⋅′−⋅+⋅σ⋅′=	PUNCT
ajfa-11077	112	9	wjrwwww	wjrwwww	VERB
ajfa-11077	112	10	n	n	PROPN
ajfa-11077	112	11	wi	wi	PROPN
ajfa-11077	112	12	1	1	NUM
ajfa-11077	112	13	2	2	NUM
ajfa-11077	112	14	1	1	NUM
ajfa-11077	112	15	20121min	20121min	NUM
ajfa-11077	112	16	21	21	NUM
ajfa-11077	112	17	λμλλλ	λμλλλ	NOUN
ajfa-11077	112	18	λλ	λλ	NOUN
ajfa-11077	112	19	,	,	PUNCT
ajfa-11077	112	20	,	,	PUNCT
ajfa-11077	112	21	,	,	PUNCT
ajfa-11077	112	22	,	,	PUNCT
ajfa-11077	112	23			X
ajfa-11077	112	24	.	.	PUNCT
ajfa-11077	113	1	(	(	PUNCT
ajfa-11077	113	2	3	3	X
ajfa-11077	113	3	)	)	PUNCT
ajfa-11077	113	4	hence	hence	ADV
ajfa-11077	113	5	,	,	PUNCT
ajfa-11077	113	6	the	the	DET
ajfa-11077	113	7	f.o.c.is	f.o.c.is	PROPN
ajfa-11077	113	8			NUM
ajfa-11077	113	9			NUM
ajfa-11077	113	10			NUM
ajfa-11077	113	11			PROPN
ajfa-11077	113	12			NUM
ajfa-11077	113	13			NUM
ajfa-11077	113	14			NUM
ajfa-11077	113	15			NUM
ajfa-11077	113	16			ADP
ajfa-11077	114	1	=	=	SYM
ajfa-11077	114	2			NUM
ajfa-11077	114	3			NOUN
ajfa-11077	114	4			ADJ
ajfa-11077	114	5			PROPN
ajfa-11077	114	6			NOUN
ajfa-11077	114	7	⋅′−=	⋅′−=	ADP
ajfa-11077	114	8	∂	∂	NOUN
ajfa-11077	114	9	∂	∂	NUM
ajfa-11077	114	10	=	=	PRON
ajfa-11077	114	11			PROPN
ajfa-11077	114	12			NOUN
ajfa-11077	114	13			ADJ
ajfa-11077	114	14			PROPN
ajfa-11077	114	15			NOUN
ajfa-11077	114	16	⋅′−=	⋅′−=	ADP
ajfa-11077	114	17	∂	∂	NOUN
ajfa-11077	114	18	∂	∂	NUM
ajfa-11077	114	19	=	=	SYM
ajfa-11077	114	20	⋅−⋅−⋅σ=	⋅−⋅−⋅σ=	NUM
ajfa-11077	114	21	∂	∂	NUM
ajfa-11077	114	22	∂	∂	NUM
ajfa-11077	114	23	01	01	NUM
ajfa-11077	114	24	0	0	NUM
ajfa-11077	114	25	0	0	NUM
ajfa-11077	114	26	2	2	NUM
ajfa-11077	114	27	0	0	NUM
ajfa-11077	114	28	1	1	NUM
ajfa-11077	114	29	21	21	NUM
ajfa-11077	114	30	pn	pn	NOUN
ajfa-11077	114	31	p	p	NOUN
ajfa-11077	114	32	np	np	INTJ
ajfa-11077	114	33	wj	wj	PROPN
ajfa-11077	114	34	rw	rw	PROPN
ajfa-11077	114	35	jrw	jrw	PROPN
ajfa-11077	115	1	w	w	PROPN
ajfa-11077	115	2	λ	λ	PROPN
ajfa-11077	115	3	μ	μ	PROPN
ajfa-11077	115	4	λ	λ	PROPN
ajfa-11077	115	5	λλ	λλ	PROPN
ajfa-11077	115	6			X
ajfa-11077	115	7			ADJ
ajfa-11077	115	8			ADJ
ajfa-11077	115	9			PROPN
ajfa-11077	115	10	np	np	ADP
ajfa-11077	115	11	jrw	jrw	PROPN
ajfa-11077	115	12	⋅σ⋅+⋅σ⋅=	⋅σ⋅+⋅σ⋅=	PROPN
ajfa-11077	115	13	−−	−−	NOUN
ajfa-11077	115	14	1	1	NUM
ajfa-11077	115	15	2	2	NUM
ajfa-11077	115	16	1	1	NUM
ajfa-11077	115	17	1	1	NUM
ajfa-11077	115	18	*	*	PUNCT
ajfa-11077	115	19	λλ	λλ	INTJ
ajfa-11077	115	20	.	.	PUNCT
ajfa-11077	116	1	and	and	CCONJ
ajfa-11077	116	2	then	then	ADV
ajfa-11077	116	3	we	we	PRON
ajfa-11077	116	4	have	have	VERB
ajfa-11077	116	5	,	,	PUNCT
ajfa-11077	116	6			PROPN
ajfa-11077	116	7			NUM
ajfa-11077	116	8			NUM
ajfa-11077	116	9			ADP
ajfa-11077	117	1	=	=	NOUN
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ajfa-11077	137	2	a	a	PROPN
ajfa-11077	137	3	d	d	X
ajfa-11077	137	4	b	b	PROPN
ajfa-11077	137	5	d	d	X
ajfa-11077	137	6	cb	cb	X
ajfa-11077	137	7	(	(	PUNCT
ajfa-11077	137	8	)	)	PUNCT
ajfa-11077	137	9	cc	cc	PROPN
ajfa-11077	137	10	b	b	PROPN
ajfa-11077	137	11	d	d	X
ajfa-11077	137	12	cabc	cabc	PROPN
ajfa-11077	137	13	d	d	X
ajfa-11077	137	14	121	121	NUM
ajfa-11077	137	15	2	2	NUM
ajfa-11077	137	16	00	00	NUM
ajfa-11077	137	17	2	2	NUM
ajfa-11077	137	18	0	0	NUM
ajfa-11077	138	1	+	+	ADJ
ajfa-11077	138	2			PROPN
ajfa-11077	138	3			NOUN
ajfa-11077	138	4			PRON
ajfa-11077	138	5			PROPN
ajfa-11077	138	6			PROPN
ajfa-11077	138	7			NOUN
ajfa-11077	138	8	−⋅=+⋅−⋅=	−⋅=+⋅−⋅=	NOUN
ajfa-11077	138	9	μμμ	μμμ	NOUN
ajfa-11077	138	10	(	(	PUNCT
ajfa-11077	138	11	5	5	NUM
ajfa-11077	138	12	)	)	PUNCT
ajfa-11077	138	13	such	such	ADJ
ajfa-11077	138	14	that	that	SCONJ
ajfa-11077	138	15	,	,	PUNCT
ajfa-11077	138	16	cp	cp	PROPN
ajfa-11077	138	17	12	12	NUM
ajfa-11077	138	18	≥σ	≥σ	NOUN
ajfa-11077	138	19	,	,	PUNCT
ajfa-11077	138	20	and	and	CCONJ
ajfa-11077	138	21	the	the	DET
ajfa-11077	138	22	equality	equality	NOUN
ajfa-11077	138	23	holds	hold	VERB
ajfa-11077	138	24	when	when	SCONJ
ajfa-11077	138	25	c	c	PROPN
ajfa-11077	138	26	b=0μ	b=0μ	NOUN
ajfa-11077	138	27	.	.	PUNCT
ajfa-11077	139	1	next	next	ADV
ajfa-11077	139	2	,	,	PUNCT
ajfa-11077	139	3	considering	consider	VERB
ajfa-11077	139	4	a	a	DET
ajfa-11077	139	5	riskless	riskless	NOUN
ajfa-11077	139	6	asset	asset	NOUN
ajfa-11077	139	7	can	can	AUX
ajfa-11077	139	8	be	be	AUX
ajfa-11077	139	9	invested	invest	VERB
ajfa-11077	139	10	,	,	PUNCT
ajfa-11077	139	11	and	and	CCONJ
ajfa-11077	139	12	then	then	ADV
ajfa-11077	139	13	the	the	DET
ajfa-11077	139	14	pre	pre	ADJ
ajfa-11077	139	15	-	-	ADJ
ajfa-11077	139	16	described	describe	VERB
ajfa-11077	139	17	model	model	NOUN
ajfa-11077	139	18	will	will	AUX
ajfa-11077	139	19	be	be	AUX
ajfa-11077	139	20	rewritten	rewrite	VERB
ajfa-11077	139	21	as	as	SCONJ
ajfa-11077	139	22	follows	follow	VERB
ajfa-11077	139	23	:	:	PUNCT
ajfa-11077	139	24	wwp	wwp	PROPN
ajfa-11077	139	25	wi	wi	PROPN
ajfa-11077	139	26	⋅σ⋅′=	⋅σ⋅′=	PUNCT
ajfa-11077	139	27	2	2	NUM
ajfa-11077	139	28	1	1	NUM
ajfa-11077	139	29	2	2	NUM
ajfa-11077	139	30	2	2	NUM
ajfa-11077	139	31	min	min	NOUN
ajfa-11077	139	32	σ	σ	NOUN
ajfa-11077	139	33	(	(	PUNCT
ajfa-11077	139	34	6	6	NUM
ajfa-11077	139	35	)	)	PUNCT
ajfa-11077	139	36	(	(	PUNCT
ajfa-11077	139	37	)	)	PUNCT
ajfa-11077	139	38	01	01	NUM
ajfa-11077	139	39	..	..	PUNCT
ajfa-11077	139	40	μμ	μμ	PROPN
ajfa-11077	140	1	≥⋅′+⋅⋅′−=	≥⋅′+⋅⋅′−=	PROPN
ajfa-11077	140	2	rwrjwts	rwrjwts	PROPN
ajfa-11077	140	3	fnp	fnp	PROPN
ajfa-11077	140	4	,	,	PUNCT
ajfa-11077	140	5	(	(	PUNCT
ajfa-11077	140	6	7	7	X
ajfa-11077	140	7	)	)	PUNCT
ajfa-11077	140	8	where	where	SCONJ
ajfa-11077	140	9	，	，	SCONJ
ajfa-11077	140	10	fr	fr	PROPN
ajfa-11077	140	11	is	be	AUX
ajfa-11077	140	12	the	the	DET
ajfa-11077	140	13	return	return	NOUN
ajfa-11077	140	14	of	of	ADP
ajfa-11077	140	15	the	the	DET
ajfa-11077	140	16	riskless	riskless	NOUN
ajfa-11077	140	17	asset	asset	NOUN
ajfa-11077	140	18	.	.	PUNCT
ajfa-11077	141	1	again	again	ADV
ajfa-11077	141	2	,	,	PUNCT
ajfa-11077	141	3	by	by	ADP
ajfa-11077	141	4	using	use	VERB
ajfa-11077	141	5	the	the	DET
ajfa-11077	141	6	lagrange	lagrange	NOUN
ajfa-11077	141	7	multipliers	multiplier	NOUN
ajfa-11077	141	8	method	method	NOUN
ajfa-11077	141	9	,	,	PUNCT
ajfa-11077	141	10	we	we	PRON
ajfa-11077	141	11	have	have	VERB
ajfa-11077	141	12	to	to	PART
ajfa-11077	141	13	solve	solve	VERB
ajfa-11077	141	14	the	the	DET
ajfa-11077	141	15	following	following	ADJ
ajfa-11077	141	16	problem	problem	NOUN
ajfa-11077	141	17	:	:	PUNCT
ajfa-11077	141	18	(	(	PUNCT
ajfa-11077	141	19	)	)	PUNCT
ajfa-11077	141	20	(	(	PUNCT
ajfa-11077	141	21	)	)	PUNCT
ajfa-11077	142	1	[	[	PUNCT
ajfa-11077	142	2	]	]	X
ajfa-11077	142	3	fn	fn	NOUN
ajfa-11077	142	4	w	w	PROPN
ajfa-11077	142	5	rjwrwwww	rjwrwwww	PROPN
ajfa-11077	142	6	i	i	PRON
ajfa-11077	142	7	⋅⋅′−−⋅′−⋅+⋅σ⋅′=	⋅⋅′−−⋅′−⋅+⋅σ⋅′=	VERB
ajfa-11077	142	8	1	1	NUM
ajfa-11077	142	9	2	2	NUM
ajfa-11077	142	10	1	1	NUM
ajfa-11077	142	11	021min	021min	NOUN
ajfa-11077	142	12	μλλλ	μλλλ	NOUN
ajfa-11077	142	13	λ	λ	PROPN
ajfa-11077	142	14	,	,	PUNCT
ajfa-11077	142	15	,	,	PUNCT
ajfa-11077	142	16	,	,	PUNCT
ajfa-11077	142	17			X
ajfa-11077	142	18	.	.	PUNCT
ajfa-11077	143	1	(	(	PUNCT
ajfa-11077	143	2	8)	8)	NUM
ajfa-11077	143	3	thus	thus	ADV
ajfa-11077	143	4	,	,	PUNCT
ajfa-11077	143	5	the	the	DET
ajfa-11077	143	6	f.o.c	f.o.c	NOUN
ajfa-11077	143	7	.	.	PUNCT
ajfa-11077	143	8	is	be	AUX
ajfa-11077	143	9	asian	asian	ADJ
ajfa-11077	143	10	journal	journal	NOUN
ajfa-11077	143	11	of	of	ADP
ajfa-11077	143	12	finance	finance	PROPN
ajfa-11077	143	13	&	&	CCONJ
ajfa-11077	143	14	accounting	accounting	PROPN
ajfa-11077	143	15	issn	issn	PROPN
ajfa-11077	143	16	1946	1946	NUM
ajfa-11077	143	17	-	-	PUNCT
ajfa-11077	143	18	052x	052x	PROPN
ajfa-11077	143	19	2017	2017	NUM
ajfa-11077	143	20	,	,	PUNCT
ajfa-11077	143	21	vol	vol	NOUN
ajfa-11077	143	22	.	.	NOUN
ajfa-11077	143	23	9	9	NUM
ajfa-11077	143	24	,	,	PUNCT
ajfa-11077	143	25	no	no	INTJ
ajfa-11077	143	26	.	.	NOUN
ajfa-11077	143	27	1	1	NUM
ajfa-11077	143	28	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	143	29	282	282	NUM
ajfa-11077	143	30	(	(	PUNCT
ajfa-11077	143	31	)	)	PUNCT
ajfa-11077	143	32	(	(	PUNCT
ajfa-11077	143	33	)	)	PUNCT
ajfa-11077	143	34			PROPN
ajfa-11077	143	35			NOUN
ajfa-11077	143	36			ADP
ajfa-11077	144	1	=	=	NOUN
ajfa-11077	144	2	⋅⋅′−−⋅′−=	⋅⋅′−−⋅′−=	NUM
ajfa-11077	144	3	=	=	SYM
ajfa-11077	144	4	⋅−⋅−⋅σ=	⋅−⋅−⋅σ=	PROPN
ajfa-11077	144	5	01	01	NUM
ajfa-11077	144	6	0	0	NUM
ajfa-11077	144	7	0	0	NUM
ajfa-11077	144	8	fn	fn	NOUN
ajfa-11077	144	9	fnw	fnw	PROPN
ajfa-11077	144	10	rjwrw	rjwrw	NOUN
ajfa-11077	144	11	rjrw	rjrw	VERB
ajfa-11077	144	12	μ	μ	PROPN
ajfa-11077	144	13	λ	λ	PROPN
ajfa-11077	144	14	λ	λ	NUM
ajfa-11077	144	15			ADJ
ajfa-11077	144	16			PROPN
ajfa-11077	145	1	(	(	PUNCT
ajfa-11077	145	2	)	)	PUNCT
ajfa-11077	145	3	h	h	NOUN
ajfa-11077	145	4	r	r	NOUN
ajfa-11077	145	5	jrrw	jrrw	NOUN
ajfa-11077	145	6	f	f	PROPN
ajfa-11077	145	7	nfp	nfp	PROPN
ajfa-11077	145	8	−	−	PROPN
ajfa-11077	145	9	⋅⋅−⋅σ=	⋅⋅−⋅σ=	NOUN
ajfa-11077	145	10	−	−	PROPN
ajfa-11077	145	11	01	01	NUM
ajfa-11077	145	12	*	*	SYM
ajfa-11077	145	13	μ	μ	PROPN
ajfa-11077	145	14	,	,	PUNCT
ajfa-11077	145	15	where	where	SCONJ
ajfa-11077	145	16	,	,	PUNCT
ajfa-11077	145	17	(	(	PUNCT
ajfa-11077	145	18	)	)	PUNCT
ajfa-11077	145	19	(	(	PUNCT
ajfa-11077	145	20	)	)	PUNCT
ajfa-11077	145	21	21	21	NUM
ajfa-11077	145	22	2	2	NUM
ajfa-11077	145	23	ffnfnf	ffnfnf	NOUN
ajfa-11077	145	24	rcrbajrrjrrh	rcrbajrrjrrh	NOUN
ajfa-11077	145	25	⋅+⋅−=⋅−⋅σ⋅′⋅−≡	⋅+⋅−=⋅−⋅σ⋅′⋅−≡	PRON
ajfa-11077	145	26	−	−	PROPN
ajfa-11077	145	27	.	.	PUNCT
ajfa-11077	146	1	the	the	DET
ajfa-11077	146	2	properties	property	NOUN
ajfa-11077	146	3	of	of	ADP
ajfa-11077	146	4	this	this	DET
ajfa-11077	146	5	portfolio	portfolio	NOUN
ajfa-11077	146	6	are	be	AUX
ajfa-11077	146	7	:	:	PUNCT
ajfa-11077	146	8	1	1	X
ajfa-11077	146	9	.	.	X
ajfa-11077	146	10	fnppp	fnppp	NOUN
ajfa-11077	146	11	rjwrw	rjwrw	NOUN
ajfa-11077	146	12	⋅	⋅	PROPN
ajfa-11077	146	13			VERB
ajfa-11077	146	14			ADJ
ajfa-11077	146	15			PROPN
ajfa-11077	146	16			NOUN
ajfa-11077	146	17	⋅′−+⋅′=	⋅′−+⋅′=	NOUN
ajfa-11077	146	18	1*μ	1*μ	NUM
ajfa-11077	146	19	(	(	PUNCT
ajfa-11077	146	20	)	)	PUNCT
ajfa-11077	146	21	fnp	fnp	PROPN
ajfa-11077	146	22	f	f	PROPN
ajfa-11077	146	23	nf	nf	PROPN
ajfa-11077	146	24	rjwr	rjwr	ADV
ajfa-11077	146	25	h	h	PROPN
ajfa-11077	146	26	r	r	PROPN
ajfa-11077	146	27	jrr	jrr	PROPN
ajfa-11077	146	28	⋅	⋅	PROPN
ajfa-11077	146	29			VERB
ajfa-11077	147	1			ADJ
ajfa-11077	147	2			PROPN
ajfa-11077	147	3			NOUN
ajfa-11077	147	4	⋅′−+⋅	⋅′−+⋅	NOUN
ajfa-11077	147	5	−	−	PROPN
ajfa-11077	147	6	σ⋅′⋅−=	σ⋅′⋅−=	PROPN
ajfa-11077	147	7	−	−	PROPN
ajfa-11077	147	8	101	101	NUM
ajfa-11077	147	9	μ	μ	PROPN
ajfa-11077	147	10	(	(	PUNCT
ajfa-11077	147	11	)	)	PUNCT
ajfa-11077	147	12	(	(	PUNCT
ajfa-11077	147	13	)	)	PUNCT
ajfa-11077	147	14	nfnf	nfnf	NOUN
ajfa-11077	147	15	f	f	PROPN
ajfa-11077	147	16	jrrjrr	jrrjrr	NOUN
ajfa-11077	147	17	h	h	NOUN
ajfa-11077	148	1	r	r	NOUN
ajfa-11077	148	2	⋅−⋅σ⋅′⋅−⋅	⋅−⋅σ⋅′⋅−⋅	PRON
ajfa-11077	148	3	−	−	PROPN
ajfa-11077	148	4	=	=	SYM
ajfa-11077	148	5	−10μ	−10μ	NOUN
ajfa-11077	148	6	(	(	PUNCT
ajfa-11077	148	7	)	)	PUNCT
ajfa-11077	148	8	(	(	PUNCT
ajfa-11077	148	9	)	)	PUNCT
ajfa-11077	148	10	fnpnnf	fnpnnf	NOUN
ajfa-11077	148	11	ff	ff	PROPN
ajfa-11077	148	12	rjwjjrr	rjwjjrr	PROPN
ajfa-11077	148	13	h	h	PROPN
ajfa-11077	148	14	rr	rr	PROPN
ajfa-11077	149	1	⋅	⋅	PROPN
ajfa-11077	149	2			VERB
ajfa-11077	149	3			PRON
ajfa-11077	149	4			PROPN
ajfa-11077	149	5			PROPN
ajfa-11077	149	6			NOUN
ajfa-11077	149	7	⋅	⋅	PROPN
ajfa-11077	149	8	′	′	NUM
ajfa-11077	149	9	−+⋅σ⋅′⋅−⋅	−+⋅σ⋅′⋅−⋅	NOUN
ajfa-11077	149	10	−⋅	−⋅	ADV
ajfa-11077	150	1	+	+	CCONJ
ajfa-11077	150	2	−	−	PROPN
ajfa-11077	150	3	*	*	SYM
ajfa-11077	150	4	10	10	NUM
ajfa-11077	150	5	1	1	NUM
ajfa-11077	150	6	μ	μ	NOUN
ajfa-11077	150	7	.	.	PUNCT
ajfa-11077	151	1	2	2	NUM
ajfa-11077	151	2	.	.	X
ajfa-11077	151	3	*	*	PUNCT
ajfa-11077	151	4	*	*	PUNCT
ajfa-11077	151	5	2	2	NUM
ajfa-11077	151	6	ppp	ppp	NOUN
ajfa-11077	151	7	ww	ww	PROPN
ajfa-11077	151	8	⋅σ⋅′=σ	⋅σ⋅′=σ	PROPN
ajfa-11077	151	9	(	(	PUNCT
ajfa-11077	151	10	)	)	PUNCT
ajfa-11077	151	11	(	(	PUNCT
ajfa-11077	151	12	)	)	PUNCT
ajfa-11077	151	13			PROPN
ajfa-11077	151	14			PROPN
ajfa-11077	151	15			PRON
ajfa-11077	151	16			NOUN
ajfa-11077	151	17			VERB
ajfa-11077	151	18			PROPN
ajfa-11077	151	19	−	−	PROPN
ajfa-11077	151	20	⋅⋅−⋅σ⋅σ⋅	⋅⋅−⋅σ⋅σ⋅	PROPN
ajfa-11077	151	21			PROPN
ajfa-11077	151	22			PRON
ajfa-11077	151	23			NOUN
ajfa-11077	151	24			VERB
ajfa-11077	151	25			PROPN
ajfa-11077	151	26	−	−	PROPN
ajfa-11077	151	27	σ⋅′⋅−=	σ⋅′⋅−=	PROPN
ajfa-11077	151	28	−−	−−	NOUN
ajfa-11077	151	29	h	h	NOUN
ajfa-11077	152	1	r	r	NOUN
ajfa-11077	152	2	jrr	jrr	PROPN
ajfa-11077	152	3	h	h	NOUN
ajfa-11077	152	4	r	r	PROPN
ajfa-11077	152	5	jrr	jrr	PROPN
ajfa-11077	152	6	f	f	PROPN
ajfa-11077	152	7	nf	nf	PROPN
ajfa-11077	152	8	f	f	PROPN
ajfa-11077	152	9	nf	nf	INTJ
ajfa-11077	152	10	0101	0101	NUM
ajfa-11077	152	11	μμ	μμ	PROPN
ajfa-11077	152	12	(	(	PUNCT
ajfa-11077	152	13	)	)	PUNCT
ajfa-11077	152	14	(	(	PUNCT
ajfa-11077	152	15	)	)	PUNCT
ajfa-11077	152	16	nfnf	nfnf	NOUN
ajfa-11077	152	17	f	f	PROPN
ajfa-11077	152	18	jrrjrr	jrrjrr	NOUN
ajfa-11077	152	19	h	h	NOUN
ajfa-11077	153	1	r	r	NOUN
ajfa-11077	153	2	⋅−⋅σ⋅′⋅−⋅	⋅−⋅σ⋅′⋅−⋅	NOUN
ajfa-11077	153	3			NOUN
ajfa-11077	153	4			PROPN
ajfa-11077	153	5			PROPN
ajfa-11077	153	6			PROPN
ajfa-11077	153	7			NOUN
ajfa-11077	154	1	−	−	NOUN
ajfa-11077	154	2	=	=	SYM
ajfa-11077	154	3	−1	−1	NOUN
ajfa-11077	154	4	2	2	NUM
ajfa-11077	154	5	0μ	0μ	NOUN
ajfa-11077	154	6			NOUN
ajfa-11077	154	7			VERB
ajfa-11077	154	8			PROPN
ajfa-11077	154	9			PROPN
ajfa-11077	154	10	σ′⋅+σ′⋅−σ′⋅	σ′⋅+σ′⋅−σ′⋅	NOUN
ajfa-11077	154	11			NOUN
ajfa-11077	154	12			PROPN
ajfa-11077	154	13			NOUN
ajfa-11077	154	14			PROPN
ajfa-11077	154	15			NOUN
ajfa-11077	155	1	−	−	NOUN
ajfa-11077	155	2	=	=	PUNCT
ajfa-11077	156	1	−−−	−−−	NOUN
ajfa-11077	157	1	nnfnf	nnfnf	PROPN
ajfa-11077	157	2	f	f	PROPN
ajfa-11077	157	3	jjrjrrrr	jjrjrrrr	NOUN
ajfa-11077	157	4	h	h	NOUN
ajfa-11077	157	5	r	r	NOUN
ajfa-11077	157	6	121	121	NUM
ajfa-11077	157	7	2	2	NUM
ajfa-11077	157	8	0	0	NUM
ajfa-11077	157	9	2	2	NUM
ajfa-11077	157	10	μ	μ	NOUN
ajfa-11077	157	11	(	(	PUNCT
ajfa-11077	157	12	)	)	PUNCT
ajfa-11077	157	13	h	h	PROPN
ajfa-11077	157	14	rf	rf	VERB
ajfa-11077	157	15	2	2	NUM
ajfa-11077	157	16	0	0	NUM
ajfa-11077	157	17	−	−	PROPN
ajfa-11077	157	18	=	=	SYM
ajfa-11077	157	19	μ	μ	PROPN
ajfa-11077	157	20	.	.	PUNCT
ajfa-11077	158	1	(	(	PUNCT
ajfa-11077	158	2	9	9	X
ajfa-11077	158	3	)	)	PUNCT
ajfa-11077	158	4	hence	hence	ADV
ajfa-11077	158	5	,	,	PUNCT
ajfa-11077	158	6	its	its	PRON
ajfa-11077	158	7	standard	standard	ADJ
ajfa-11077	158	8	deviation	deviation	NOUN
ajfa-11077	158	9	h	h	NOUN
ajfa-11077	158	10	rf	rf	NOUN
ajfa-11077	158	11	p	p	NOUN
ajfa-11077	158	12	−	−	PROPN
ajfa-11077	158	13	=	=	SYM
ajfa-11077	158	14	0μ	0μ	PROPN
ajfa-11077	158	15	σ	σ	NOUN
ajfa-11077	158	16	,	,	PUNCT
ajfa-11077	158	17	that	that	ADV
ajfa-11077	158	18	is	is	ADV
ajfa-11077	158	19	,	,	PUNCT
ajfa-11077	158	20	pf	pf	PROPN
ajfa-11077	158	21	hr	hr	PROPN
ajfa-11077	158	22	σμ	σμ	PROPN
ajfa-11077	158	23	⋅±=	⋅±=	PROPN
ajfa-11077	158	24	0	0	NUM
ajfa-11077	158	25	(	(	PUNCT
ajfa-11077	158	26	10	10	NUM
ajfa-11077	158	27	)	)	PUNCT
ajfa-11077	158	28	3.2	3.2	NUM
ajfa-11077	158	29	autoregression	autoregression	NOUN
ajfa-11077	158	30	integrated	integrate	VERB
ajfa-11077	158	31	moving	move	VERB
ajfa-11077	158	32	average	average	ADJ
ajfa-11077	158	33	models	model	NOUN
ajfa-11077	158	34	,	,	PUNCT
ajfa-11077	158	35	(	(	PUNCT
ajfa-11077	158	36	)	)	PUNCT
ajfa-11077	158	37	qdparima	qdparima	NOUN
ajfa-11077	158	38	,	,	PUNCT
ajfa-11077	158	39	,	,	PUNCT
ajfa-11077	158	40	in	in	ADP
ajfa-11077	158	41	witt	witt	PROPN
ajfa-11077	158	42	and	and	CCONJ
ajfa-11077	158	43	witt	witt	PROPN
ajfa-11077	158	44	(	(	PUNCT
ajfa-11077	158	45	1992，1995	1992，1995	NUM
ajfa-11077	158	46	)	)	PUNCT
ajfa-11077	158	47	,	,	PUNCT
ajfa-11077	158	48	they	they	PRON
ajfa-11077	158	49	use	use	VERB
ajfa-11077	158	50	many	many	ADJ
ajfa-11077	158	51	econometric	econometric	ADJ
ajfa-11077	158	52	models	model	NOUN
ajfa-11077	158	53	to	to	PART
ajfa-11077	158	54	investigate	investigate	VERB
ajfa-11077	158	55	the	the	DET
ajfa-11077	158	56	topics	topic	NOUN
ajfa-11077	158	57	of	of	ADP
ajfa-11077	158	58	tourism	tourism	NOUN
ajfa-11077	158	59	industries	industry	NOUN
ajfa-11077	158	60	.	.	PUNCT
ajfa-11077	159	1	empirically	empirically	ADV
ajfa-11077	159	2	,	,	PUNCT
ajfa-11077	159	3	they	they	PRON
ajfa-11077	159	4	suggested	suggest	VERB
ajfa-11077	159	5	that	that	SCONJ
ajfa-11077	159	6	the	the	DET
ajfa-11077	159	7	autoregression	autoregression	NOUN
ajfa-11077	159	8	and	and	CCONJ
ajfa-11077	159	9	moving	move	VERB
ajfa-11077	159	10	average	average	ADJ
ajfa-11077	159	11	models	model	NOUN
ajfa-11077	159	12	can	can	AUX
ajfa-11077	159	13	be	be	AUX
ajfa-11077	159	14	implemented	implement	VERB
ajfa-11077	159	15	to	to	PART
ajfa-11077	159	16	forecast	forecast	VERB
ajfa-11077	159	17	the	the	DET
ajfa-11077	159	18	performance	performance	NOUN
ajfa-11077	159	19	of	of	ADP
ajfa-11077	159	20	tourism	tourism	NOUN
ajfa-11077	159	21	industries	industry	NOUN
ajfa-11077	159	22	.	.	PUNCT
ajfa-11077	160	1	this	this	DET
ajfa-11077	160	2	study	study	NOUN
ajfa-11077	160	3	will	will	AUX
ajfa-11077	160	4	focus	focus	VERB
ajfa-11077	160	5	on	on	ADP
ajfa-11077	160	6	the	the	DET
ajfa-11077	160	7	effects	effect	NOUN
ajfa-11077	160	8	of	of	ADP
ajfa-11077	160	9	the	the	DET
ajfa-11077	160	10	fluctuations	fluctuation	NOUN
ajfa-11077	160	11	of	of	ADP
ajfa-11077	160	12	foreign	foreign	ADJ
ajfa-11077	160	13	exchange	exchange	NOUN
ajfa-11077	160	14	on	on	ADP
ajfa-11077	160	15	the	the	DET
ajfa-11077	160	16	performance	performance	NOUN
ajfa-11077	160	17	of	of	ADP
ajfa-11077	160	18	hotel	hotel	NOUN
ajfa-11077	160	19	industry	industry	NOUN
ajfa-11077	160	20	.	.	PUNCT
ajfa-11077	161	1	asian	asian	ADJ
ajfa-11077	161	2	journal	journal	PROPN
ajfa-11077	161	3	of	of	ADP
ajfa-11077	161	4	finance	finance	PROPN
ajfa-11077	161	5	&	&	CCONJ
ajfa-11077	161	6	accounting	accounting	PROPN
ajfa-11077	161	7	issn	issn	PROPN
ajfa-11077	161	8	1946	1946	NUM
ajfa-11077	161	9	-	-	PUNCT
ajfa-11077	161	10	052x	052x	PROPN
ajfa-11077	161	11	2017	2017	NUM
ajfa-11077	161	12	,	,	PUNCT
ajfa-11077	161	13	vol	vol	NOUN
ajfa-11077	161	14	.	.	NOUN
ajfa-11077	161	15	9	9	NUM
ajfa-11077	161	16	,	,	PUNCT
ajfa-11077	161	17	no	no	INTJ
ajfa-11077	161	18	.	.	NOUN
ajfa-11077	161	19	1	1	NUM
ajfa-11077	161	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	161	21	283	283	NUM
ajfa-11077	161	22	according	accord	VERB
ajfa-11077	161	23	to	to	ADP
ajfa-11077	161	24	bodie	bodie	PROPN
ajfa-11077	161	25	,	,	PUNCT
ajfa-11077	161	26	kane	kane	PROPN
ajfa-11077	161	27	and	and	CCONJ
ajfa-11077	161	28	marcus	marcus	PROPN
ajfa-11077	161	29	(	(	PUNCT
ajfa-11077	161	30	2002	2002	NUM
ajfa-11077	161	31	)	)	PUNCT
ajfa-11077	161	32	and	and	CCONJ
ajfa-11077	161	33	muriithi	muriithi	NOUN
ajfa-11077	161	34	,	,	PUNCT
ajfa-11077	161	35	muturi	muturi	NOUN
ajfa-11077	161	36	,	,	PUNCT
ajfa-11077	161	37	and	and	CCONJ
ajfa-11077	161	38	waweru	waweru	PROPN
ajfa-11077	161	39	(	(	PUNCT
ajfa-11077	161	40	2016	2016	NUM
ajfa-11077	161	41	)	)	PUNCT
ajfa-11077	161	42	,	,	PUNCT
ajfa-11077	161	43	we	we	PRON
ajfa-11077	161	44	can	can	AUX
ajfa-11077	161	45	use	use	VERB
ajfa-11077	161	46	the	the	DET
ajfa-11077	161	47	roa	roa	NOUN
ajfa-11077	161	48	or	or	CCONJ
ajfa-11077	161	49	roe	roe	PROPN
ajfa-11077	161	50	,	,	PUNCT
ajfa-11077	161	51	reported	report	VERB
ajfa-11077	161	52	in	in	ADP
ajfa-11077	161	53	the	the	DET
ajfa-11077	161	54	annual	annual	ADJ
ajfa-11077	161	55	financial	financial	ADJ
ajfa-11077	161	56	statements	statement	NOUN
ajfa-11077	161	57	,	,	PUNCT
ajfa-11077	161	58	to	to	PART
ajfa-11077	161	59	be	be	AUX
ajfa-11077	161	60	the	the	DET
ajfa-11077	161	61	measures	measure	NOUN
ajfa-11077	161	62	of	of	ADP
ajfa-11077	161	63	the	the	DET
ajfa-11077	161	64	corporate	corporate	ADJ
ajfa-11077	161	65	’s	’s	PART
ajfa-11077	161	66	performance	performance	NOUN
ajfa-11077	161	67	.	.	PUNCT
ajfa-11077	162	1	there	there	PRON
ajfa-11077	162	2	are	be	VERB
ajfa-11077	162	3	at	at	ADV
ajfa-11077	162	4	least	least	ADJ
ajfa-11077	162	5	two	two	NUM
ajfa-11077	162	6	reasons	reason	NOUN
ajfa-11077	162	7	for	for	ADP
ajfa-11077	162	8	applying	apply	VERB
ajfa-11077	162	9	roa	roa	PROPN
ajfa-11077	162	10	/	/	SYM
ajfa-11077	162	11	roe	roe	NOUN
ajfa-11077	162	12	to	to	PART
ajfa-11077	162	13	proxy	proxy	VERB
ajfa-11077	162	14	the	the	DET
ajfa-11077	162	15	firm	firm	NOUN
ajfa-11077	162	16	’s	’s	PART
ajfa-11077	162	17	performance	performance	NOUN
ajfa-11077	162	18	.	.	PUNCT
ajfa-11077	163	1	first	first	ADV
ajfa-11077	163	2	,	,	PUNCT
ajfa-11077	163	3	since	since	SCONJ
ajfa-11077	163	4	roa	roa	PROPN
ajfa-11077	163	5	is	be	AUX
ajfa-11077	163	6	the	the	DET
ajfa-11077	163	7	return	return	NOUN
ajfa-11077	163	8	of	of	ADP
ajfa-11077	163	9	corporate	corporate	ADJ
ajfa-11077	163	10	’s	’s	PART
ajfa-11077	163	11	total	total	ADJ
ajfa-11077	163	12	assets	asset	NOUN
ajfa-11077	163	13	,	,	PUNCT
ajfa-11077	163	14	which	which	PRON
ajfa-11077	163	15	is	be	AUX
ajfa-11077	163	16	defined	define	VERB
ajfa-11077	163	17	by	by	ADP
ajfa-11077	163	18	the	the	DET
ajfa-11077	163	19	product	product	NOUN
ajfa-11077	163	20	of	of	ADP
ajfa-11077	163	21	profit	profit	NOUN
ajfa-11077	163	22	margin	margin	NOUN
ajfa-11077	163	23	and	and	CCONJ
ajfa-11077	163	24	total	total	ADJ
ajfa-11077	163	25	asset	asset	NOUN
ajfa-11077	163	26	turnover	turnover	NOUN
ajfa-11077	163	27	,	,	PUNCT
ajfa-11077	163	28	so	so	SCONJ
ajfa-11077	163	29	it	it	PRON
ajfa-11077	163	30	tells	tell	VERB
ajfa-11077	163	31	us	we	PRON
ajfa-11077	163	32	how	how	SCONJ
ajfa-11077	163	33	effectively	effectively	ADV
ajfa-11077	163	34	a	a	DET
ajfa-11077	163	35	firm	firm	NOUN
ajfa-11077	163	36	uses	use	VERB
ajfa-11077	163	37	its	its	PRON
ajfa-11077	163	38	assets	asset	NOUN
ajfa-11077	163	39	to	to	PART
ajfa-11077	163	40	generate	generate	VERB
ajfa-11077	163	41	profits	profit	NOUN
ajfa-11077	163	42	.	.	PUNCT
ajfa-11077	164	1	therefore	therefore	ADV
ajfa-11077	164	2	,	,	PUNCT
ajfa-11077	164	3	a	a	DET
ajfa-11077	164	4	well	well	ADV
ajfa-11077	164	5	-	-	PUNCT
ajfa-11077	164	6	performed	perform	VERB
ajfa-11077	164	7	firm	firm	NOUN
ajfa-11077	164	8	will	will	AUX
ajfa-11077	164	9	have	have	VERB
ajfa-11077	164	10	a	a	DET
ajfa-11077	164	11	higher	high	ADJ
ajfa-11077	164	12	roa	roa	NOUN
ajfa-11077	164	13	.	.	PUNCT
ajfa-11077	165	1	second	second	ADJ
ajfa-11077	165	2	,	,	PUNCT
ajfa-11077	165	3	the	the	DET
ajfa-11077	165	4	definition	definition	NOUN
ajfa-11077	165	5	of	of	ADP
ajfa-11077	165	6	roe	roe	PROPN
ajfa-11077	165	7	is	be	AUX
ajfa-11077	165	8	the	the	DET
ajfa-11077	165	9	net	net	ADJ
ajfa-11077	165	10	profit	profit	NOUN
ajfa-11077	165	11	over	over	ADP
ajfa-11077	165	12	the	the	DET
ajfa-11077	165	13	average	average	ADJ
ajfa-11077	165	14	equity	equity	NOUN
ajfa-11077	165	15	,	,	PUNCT
ajfa-11077	165	16	so	so	SCONJ
ajfa-11077	165	17	that	that	SCONJ
ajfa-11077	165	18	by	by	ADP
ajfa-11077	165	19	the	the	DET
ajfa-11077	165	20	dupont	dupont	NOUN
ajfa-11077	165	21	equation	equation	NOUN
ajfa-11077	165	22	,	,	PUNCT
ajfa-11077	165	23	we	we	PRON
ajfa-11077	165	24	have	have	VERB
ajfa-11077	165	25	ratio	ratio	NOUN
ajfa-11077	165	26	equity	equity	NOUN
ajfa-11077	165	27	assetturnoverasset	assetturnoverasset	VERB
ajfa-11077	165	28	marginprofit	marginprofit	PROPN
ajfa-11077	165	29	net	net	ADJ
ajfa-11077	165	30	××=roe	××=roe	PROPN
ajfa-11077	165	31	.	.	PUNCT
ajfa-11077	166	1	(	(	PUNCT
ajfa-11077	166	2	11	11	NUM
ajfa-11077	166	3	)	)	PUNCT
ajfa-11077	166	4	as	as	ADP
ajfa-11077	166	5	a	a	DET
ajfa-11077	166	6	result	result	NOUN
ajfa-11077	166	7	,	,	PUNCT
ajfa-11077	166	8	it	it	PRON
ajfa-11077	166	9	tells	tell	VERB
ajfa-11077	166	10	us	we	PRON
ajfa-11077	166	11	how	how	SCONJ
ajfa-11077	166	12	efficiently	efficiently	ADV
ajfa-11077	166	13	a	a	DET
ajfa-11077	166	14	company	company	NOUN
ajfa-11077	166	15	is	be	AUX
ajfa-11077	166	16	operated	operate	VERB
ajfa-11077	166	17	.	.	PUNCT
ajfa-11077	167	1	it	it	PRON
ajfa-11077	167	2	also	also	ADV
ajfa-11077	167	3	provides	provide	VERB
ajfa-11077	167	4	insights	insight	NOUN
ajfa-11077	167	5	into	into	ADP
ajfa-11077	167	6	the	the	DET
ajfa-11077	167	7	firm	firm	NOUN
ajfa-11077	167	8	’s	’s	PART
ajfa-11077	167	9	use	use	NOUN
ajfa-11077	167	10	of	of	ADP
ajfa-11077	167	11	assets	asset	NOUN
ajfa-11077	167	12	via	via	ADP
ajfa-11077	167	13	turnover.that	turnover.that	PRON
ajfa-11077	167	14	is	be	AUX
ajfa-11077	167	15	,	,	PUNCT
ajfa-11077	167	16	a	a	DET
ajfa-11077	167	17	well	well	ADV
ajfa-11077	167	18	-	-	PUNCT
ajfa-11077	167	19	performed	perform	VERB
ajfa-11077	167	20	firm	firm	NOUN
ajfa-11077	167	21	also	also	ADV
ajfa-11077	167	22	has	have	VERB
ajfa-11077	167	23	a	a	DET
ajfa-11077	167	24	higher	high	ADJ
ajfa-11077	167	25	roe	roe	NOUN
ajfa-11077	167	26	.	.	PUNCT
ajfa-11077	168	1	as	as	ADP
ajfa-11077	168	2	a	a	DET
ajfa-11077	168	3	result	result	NOUN
ajfa-11077	168	4	,	,	PUNCT
ajfa-11077	168	5	in	in	ADP
ajfa-11077	168	6	our	our	PRON
ajfa-11077	168	7	study	study	NOUN
ajfa-11077	168	8	,	,	PUNCT
ajfa-11077	168	9	we	we	PRON
ajfa-11077	168	10	will	will	AUX
ajfa-11077	168	11	apply	apply	VERB
ajfa-11077	168	12	these	these	DET
ajfa-11077	168	13	two	two	NUM
ajfa-11077	168	14	measures	measure	NOUN
ajfa-11077	168	15	to	to	PART
ajfa-11077	168	16	be	be	AUX
ajfa-11077	168	17	the	the	DET
ajfa-11077	168	18	proxies	proxy	NOUN
ajfa-11077	168	19	of	of	ADP
ajfa-11077	168	20	the	the	DET
ajfa-11077	168	21	firm	firm	NOUN
ajfa-11077	168	22	’s	’s	PART
ajfa-11077	168	23	performance	performance	NOUN
ajfa-11077	168	24	and	and	CCONJ
ajfa-11077	168	25	investigate	investigate	VERB
ajfa-11077	168	26	the	the	DET
ajfa-11077	168	27	magnitude	magnitude	NOUN
ajfa-11077	168	28	of	of	ADP
ajfa-11077	168	29	the	the	DET
ajfa-11077	168	30	effects	effect	NOUN
ajfa-11077	168	31	of	of	ADP
ajfa-11077	168	32	foreign	foreign	ADJ
ajfa-11077	168	33	exchange	exchange	NOUN
ajfa-11077	168	34	rate	rate	NOUN
ajfa-11077	168	35	’s	’s	PART
ajfa-11077	168	36	fluctuations	fluctuation	NOUN
ajfa-11077	168	37	.	.	PUNCT
ajfa-11077	169	1	hence	hence	ADV
ajfa-11077	169	2	,	,	PUNCT
ajfa-11077	169	3	by	by	ADP
ajfa-11077	169	4	the	the	DET
ajfa-11077	169	5	multi	multi	ADJ
ajfa-11077	169	6	-	-	ADJ
ajfa-11077	169	7	factor	factor	ADJ
ajfa-11077	169	8	model	model	NOUN
ajfa-11077	169	9	in	in	ADP
ajfa-11077	169	10	jorion	jorion	NOUN
ajfa-11077	169	11	(	(	PUNCT
ajfa-11077	169	12	1991	1991	NUM
ajfa-11077	169	13	)	)	PUNCT
ajfa-11077	169	14	and	and	CCONJ
ajfa-11077	169	15	bartram	bartram	PROPN
ajfa-11077	169	16	(	(	PUNCT
ajfa-11077	169	17	2008	2008	NUM
ajfa-11077	169	18	)	)	PUNCT
ajfa-11077	169	19	,	,	PUNCT
ajfa-11077	169	20	the	the	DET
ajfa-11077	169	21	autoregression	autoregression	NOUN
ajfa-11077	169	22	moving	move	VERB
ajfa-11077	169	23	average	average	ADJ
ajfa-11077	169	24	model	model	NOUN
ajfa-11077	169	25	is	be	AUX
ajfa-11077	169	26	given	give	VERB
ajfa-11077	169	27	as	as	SCONJ
ajfa-11077	169	28	follows	follow	VERB
ajfa-11077	169	29	:	:	PUNCT
ajfa-11077	169	30			X
ajfa-11077	169	31	=	=	PUNCT
ajfa-11077	169	32	−⋅+⋅+=	−⋅+⋅+=	PUNCT
ajfa-11077	169	33	p	p	X
ajfa-11077	169	34	k	k	PROPN
ajfa-11077	169	35	ktikitmiiti	ktikitmiiti	PROPN
ajfa-11077	169	36	eperformancrmrfeperformanc	eperformancrmrfeperformanc	PROPN
ajfa-11077	169	37	1	1	NUM
ajfa-11077	169	38	,	,	PUNCT
ajfa-11077	169	39	,	,	PUNCT
ajfa-11077	169	40	,	,	PUNCT
ajfa-11077	169	41	,	,	PUNCT
ajfa-11077	169	42	φβα	φβα	PROPN
ajfa-11077	169	43			NOUN
ajfa-11077	169	44	=	=	PUNCT
ajfa-11077	169	45	−	−	PROPN
ajfa-11077	170	1	=	=	PUNCT
ajfa-11077	170	2	⋅+⋅+δ⋅+	⋅+⋅+δ⋅+	PRON
ajfa-11077	170	3	q	q	NOUN
ajfa-11077	170	4	s	s	NOUN
ajfa-11077	170	5	stistii	stistii	NOUN
ajfa-11077	170	6	n	n	PROPN
ajfa-11077	170	7	j	j	PROPN
ajfa-11077	170	8	tjji	tjji	NOUN
ajfa-11077	170	9	asizefx	asizefx	PROPN
ajfa-11077	170	10	01	01	NUM
ajfa-11077	170	11	,	,	PUNCT
ajfa-11077	170	12	,	,	PUNCT
ajfa-11077	170	13	,	,	PUNCT
ajfa-11077	170	14	,	,	PUNCT
ajfa-11077	170	15	θδγ	θδγ	NOUN
ajfa-11077	170	16	,	,	PUNCT
ajfa-11077	170	17	(	(	PUNCT
ajfa-11077	170	18	12	12	NUM
ajfa-11077	170	19	)	)	PUNCT
ajfa-11077	170	20	(	(	PUNCT
ajfa-11077	170	21	)	)	PUNCT
ajfa-11077	170	22	(	(	PUNCT
ajfa-11077	170	23	)	)	PUNCT
ajfa-11077	170	24	itqpqpt	itqpqpt	VERB
ajfa-11077	170	25	,	,	PUNCT
ajfa-11077	170	26	,	,	PUNCT
ajfa-11077	170	27	,	,	PUNCT
ajfa-11077	170	28	,	,	PUNCT
ajfa-11077	170	29	,	,	PUNCT
ajfa-11077	170	30	2max1max	2max1max	PROPN
ajfa-11077	170	31	+	+	PROPN
ajfa-11077	170	32	+	+	PROPN
ajfa-11077	170	33	=	=	SYM
ajfa-11077	170	34	,	,	PUNCT
ajfa-11077	170	35	ni	ni	PROPN
ajfa-11077	170	36	,	,	PUNCT
ajfa-11077	170	37	,	,	PUNCT
ajfa-11077	170	38	,	,	PUNCT
ajfa-11077	170	39	21=	21=	NOUN
ajfa-11077	170	40	.	.	PUNCT
ajfa-11077	171	1	here	here	ADV
ajfa-11077	171	2	,	,	PUNCT
ajfa-11077	171	3	tieperformanc	tieperformanc	PROPN
ajfa-11077	171	4	,	,	PUNCT
ajfa-11077	171	5	represents	represent	VERB
ajfa-11077	171	6	the	the	DET
ajfa-11077	171	7	i	i	PROPN
ajfa-11077	171	8	-	-	PUNCT
ajfa-11077	171	9	th	th	X
ajfa-11077	171	10	firm	firm	NOUN
ajfa-11077	171	11	’s	’s	PART
ajfa-11077	171	12	performance	performance	NOUN
ajfa-11077	171	13	in	in	ADP
ajfa-11077	171	14	the	the	DET
ajfa-11077	171	15	t	t	PROPN
ajfa-11077	171	16	-	-	PUNCT
ajfa-11077	171	17	th	th	NOUN
ajfa-11077	171	18	quarter	quarter	NOUN
ajfa-11077	171	19	,	,	PUNCT
ajfa-11077	171	20	and	and	CCONJ
ajfa-11077	171	21	ktieperformanc	ktieperformanc	PROPN
ajfa-11077	171	22	−	−	PROPN
ajfa-11077	171	23	,	,	PUNCT
ajfa-11077	171	24	is	be	AUX
ajfa-11077	171	25	its	its	PRON
ajfa-11077	171	26	k	k	NOUN
ajfa-11077	171	27	-	-	PUNCT
ajfa-11077	171	28	th	th	VERB
ajfa-11077	171	29	lagged	lag	VERB
ajfa-11077	171	30	variable	variable	NOUN
ajfa-11077	171	31	.	.	PUNCT
ajfa-11077	172	1	in	in	ADP
ajfa-11077	172	2	sharpe	sharpe	PROPN
ajfa-11077	172	3	(	(	PUNCT
ajfa-11077	172	4	1964	1964	NUM
ajfa-11077	172	5	)	)	PUNCT
ajfa-11077	172	6	,	,	PUNCT
ajfa-11077	172	7	he	he	PRON
ajfa-11077	172	8	defined	define	VERB
ajfa-11077	172	9	that	that	SCONJ
ajfa-11077	172	10	trmrf	trmrf	NOUN
ajfa-11077	172	11	is	be	AUX
ajfa-11077	172	12	the	the	DET
ajfa-11077	172	13	market	market	NOUN
ajfa-11077	172	14	portfolio	portfolio	NOUN
ajfa-11077	172	15	’s	’s	PART
ajfa-11077	172	16	excess	excess	ADJ
ajfa-11077	172	17	return	return	NOUN
ajfa-11077	172	18	in	in	ADP
ajfa-11077	172	19	the	the	DET
ajfa-11077	172	20	t	t	PROPN
ajfa-11077	172	21	-	-	PUNCT
ajfa-11077	172	22	th	th	NOUN
ajfa-11077	172	23	quarter	quarter	NOUN
ajfa-11077	172	24	,	,	PUNCT
ajfa-11077	172	25	i.e.	i.e.	X
ajfa-11077	172	26	,	,	PUNCT
ajfa-11077	172	27	ftt	ftt	INTJ
ajfa-11077	172	28	rrmrmrf	rrmrmrf	NOUN
ajfa-11077	172	29	−≡	−≡	PROPN
ajfa-11077	172	30	,	,	PUNCT
ajfa-11077	172	31	and	and	CCONJ
ajfa-11077	172	32	trm	trm	PROPN
ajfa-11077	172	33	is	be	AUX
ajfa-11077	172	34	the	the	DET
ajfa-11077	172	35	market	market	NOUN
ajfa-11077	172	36	portfolio	portfolio	NOUN
ajfa-11077	172	37	’s	’s	PART
ajfa-11077	172	38	return	return	NOUN
ajfa-11077	172	39	and	and	CCONJ
ajfa-11077	172	40	fr	fr	NOUN
ajfa-11077	172	41	is	be	AUX
ajfa-11077	172	42	the	the	DET
ajfa-11077	172	43	rate	rate	NOUN
ajfa-11077	172	44	of	of	ADP
ajfa-11077	172	45	return	return	NOUN
ajfa-11077	172	46	of	of	ADP
ajfa-11077	172	47	riskless	riskless	NOUN
ajfa-11077	172	48	asset	asset	NOUN
ajfa-11077	172	49	.	.	PUNCT
ajfa-11077	173	1	furthermore	furthermore	ADV
ajfa-11077	173	2	,	,	PUNCT
ajfa-11077	173	3	as	as	SCONJ
ajfa-11077	173	4	indicated	indicate	VERB
ajfa-11077	173	5	in	in	ADP
ajfa-11077	173	6	smithson	smithson	PROPN
ajfa-11077	173	7	andsimkins	andsimkins	PROPN
ajfa-11077	173	8	(	(	PUNCT
ajfa-11077	173	9	2005	2005	NUM
ajfa-11077	173	10	)	)	PUNCT
ajfa-11077	173	11	,	,	PUNCT
ajfa-11077	173	12	although	although	SCONJ
ajfa-11077	173	13	themanagement	themanagement	NOUN
ajfa-11077	173	14	of	of	ADP
ajfa-11077	173	15	interest	interest	NOUN
ajfa-11077	173	16	rate	rate	NOUN
ajfa-11077	173	17	and	and	CCONJ
ajfa-11077	173	18	foreign	foreign	ADJ
ajfa-11077	173	19	exchange	exchange	NOUN
ajfa-11077	173	20	rate	rate	NOUN
ajfa-11077	173	21	risksdoes	risksdoe	NOUN
ajfa-11077	173	22	indeed	indeed	ADV
ajfa-11077	173	23	add	add	VERB
ajfa-11077	173	24	value	value	NOUN
ajfa-11077	173	25	,	,	PUNCT
ajfa-11077	173	26	the	the	DET
ajfa-11077	173	27	effect	effect	NOUN
ajfa-11077	173	28	is	be	AUX
ajfa-11077	173	29	larger	large	ADJ
ajfa-11077	173	30	than	than	SCONJ
ajfa-11077	173	31	would	would	AUX
ajfa-11077	173	32	beexpected.and	beexpected.and	NUM
ajfa-11077	173	33	by	by	ADP
ajfa-11077	173	34	the	the	DET
ajfa-11077	173	35	definition	definition	NOUN
ajfa-11077	173	36	ofmuller	ofmuller	NOUN
ajfa-11077	173	37	and	and	CCONJ
ajfa-11077	173	38	verschoor	verschoor	PROPN
ajfa-11077	173	39	(	(	PUNCT
ajfa-11077	173	40	2006),let	2006),let	PROPN
ajfa-11077	173	41	tjfx	tjfx	NOUN
ajfa-11077	173	42	,	,	PUNCT
ajfa-11077	173	43	δ	δ	PROPN
ajfa-11077	173	44	be	be	VERB
ajfa-11077	173	45	the	the	DET
ajfa-11077	173	46	percentage	percentage	NOUN
ajfa-11077	173	47	change	change	NOUN
ajfa-11077	173	48	of	of	ADP
ajfa-11077	173	49	exchange	exchange	NOUN
ajfa-11077	173	50	rate	rate	NOUN
ajfa-11077	173	51	of	of	ADP
ajfa-11077	173	52	the	the	DET
ajfa-11077	173	53	j	j	PROPN
ajfa-11077	173	54	-	-	PUNCT
ajfa-11077	173	55	th	th	VERB
ajfa-11077	173	56	currency	currency	NOUN
ajfa-11077	173	57	in	in	ADP
ajfa-11077	173	58	the	the	DET
ajfa-11077	173	59	t	t	PROPN
ajfa-11077	173	60	-	-	PUNCT
ajfa-11077	173	61	th	th	NOUN
ajfa-11077	173	62	quarter	quarter	NOUN
ajfa-11077	173	63	,	,	PUNCT
ajfa-11077	173	64	that	that	PRON
ajfa-11077	173	65	is	be	AUX
ajfa-11077	173	66	100	100	NUM
ajfa-11077	173	67	1	1	NUM
ajfa-11077	173	68	1	1	NUM
ajfa-11077	173	69	×	×	NOUN
ajfa-11077	173	70	−	−	PROPN
ajfa-11077	173	71	≡δ	≡δ	NOUN
ajfa-11077	173	72	−	−	NOUN
ajfa-11077	173	73	−	−	PROPN
ajfa-11077	173	74	tj	tj	NOUN
ajfa-11077	173	75	tjtj	tjtj	NOUN
ajfa-11077	173	76	tj	tj	PROPN
ajfa-11077	173	77	e	e	PROPN
ajfa-11077	173	78	ee	ee	PROPN
ajfa-11077	173	79	fx	fx	PROPN
ajfa-11077	173	80	,	,	PUNCT
ajfa-11077	173	81	,	,	PUNCT
ajfa-11077	173	82	,	,	PUNCT
ajfa-11077	173	83	,	,	PUNCT
ajfa-11077	173	84	,	,	PUNCT
ajfa-11077	173	85	(	(	PUNCT
ajfa-11077	173	86	13	13	NUM
ajfa-11077	173	87	)	)	PUNCT
ajfa-11077	173	88	where	where	SCONJ
ajfa-11077	173	89	tje	tje	X
ajfa-11077	173	90	,	,	PUNCT
ajfa-11077	173	91	is	be	AUX
ajfa-11077	173	92	the	the	DET
ajfa-11077	173	93	closed	closed	ADJ
ajfa-11077	173	94	price	price	NOUN
ajfa-11077	173	95	in	in	ADP
ajfa-11077	173	96	the	the	DET
ajfa-11077	173	97	end	end	NOUN
ajfa-11077	173	98	of	of	ADP
ajfa-11077	173	99	the	the	DET
ajfa-11077	173	100	quarter	quarter	NOUN
ajfa-11077	173	101	in	in	ADP
ajfa-11077	173	102	terms	term	NOUN
ajfa-11077	173	103	of	of	ADP
ajfa-11077	173	104	direct	direct	ADJ
ajfa-11077	173	105	quotation	quotation	NOUN
ajfa-11077	173	106	.	.	PUNCT
ajfa-11077	174	1	moreover	moreover	ADV
ajfa-11077	174	2	,	,	PUNCT
ajfa-11077	174	3	asian	asian	ADJ
ajfa-11077	174	4	journal	journal	NOUN
ajfa-11077	174	5	of	of	ADP
ajfa-11077	174	6	finance	finance	PROPN
ajfa-11077	174	7	&	&	CCONJ
ajfa-11077	174	8	accounting	accounting	PROPN
ajfa-11077	174	9	issn	issn	PROPN
ajfa-11077	174	10	1946	1946	NUM
ajfa-11077	174	11	-	-	PUNCT
ajfa-11077	174	12	052x	052x	PROPN
ajfa-11077	174	13	2017	2017	NUM
ajfa-11077	174	14	,	,	PUNCT
ajfa-11077	174	15	vol	vol	NOUN
ajfa-11077	174	16	.	.	NOUN
ajfa-11077	174	17	9	9	NUM
ajfa-11077	174	18	,	,	PUNCT
ajfa-11077	174	19	no	no	INTJ
ajfa-11077	174	20	.	.	NOUN
ajfa-11077	174	21	1	1	NUM
ajfa-11077	174	22	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	174	23	284	284	NUM
ajfa-11077	174	24	in	in	ADP
ajfa-11077	174	25	fama	fama	PROPN
ajfa-11077	174	26	and	and	CCONJ
ajfa-11077	174	27	french	french	ADJ
ajfa-11077	174	28	(	(	PUNCT
ajfa-11077	174	29	1993	1993	NUM
ajfa-11077	174	30	,	,	PUNCT
ajfa-11077	174	31	1995	1995	NUM
ajfa-11077	174	32	)	)	PUNCT
ajfa-11077	174	33	,	,	PUNCT
ajfa-11077	174	34	they	they	PRON
ajfa-11077	174	35	formed	form	VERB
ajfa-11077	174	36	six	six	NUM
ajfa-11077	174	37	portfolios	portfolio	NOUN
ajfa-11077	174	38	of	of	ADP
ajfa-11077	174	39	the	the	DET
ajfa-11077	174	40	stocks	stock	NOUN
ajfa-11077	174	41	listed	list	VERB
ajfa-11077	174	42	on	on	ADP
ajfa-11077	174	43	nyse	nyse	PROPN
ajfa-11077	174	44	,	,	PUNCT
ajfa-11077	174	45	amx	amx	PROPN
ajfa-11077	174	46	,	,	PUNCT
ajfa-11077	174	47	and	and	CCONJ
ajfa-11077	174	48	nasdaq	nasdaq	PROPN
ajfa-11077	174	49	stock	stock	NOUN
ajfa-11077	174	50	market	market	NOUN
ajfa-11077	174	51	by	by	ADP
ajfa-11077	174	52	the	the	DET
ajfa-11077	174	53	firm	firm	NOUN
ajfa-11077	174	54	’s	’s	PART
ajfa-11077	174	55	size	size	NOUN
ajfa-11077	174	56	and	and	CCONJ
ajfa-11077	174	57	found	find	VERB
ajfa-11077	174	58	that	that	DET
ajfa-11077	174	59	firm	firm	NOUN
ajfa-11077	174	60	’s	’s	PART
ajfa-11077	174	61	size	size	NOUN
ajfa-11077	174	62	and	and	CCONJ
ajfa-11077	174	63	be	be	AUX
ajfa-11077	174	64	/	/	SYM
ajfa-11077	174	65	me	i	PRON
ajfa-11077	174	66	proxy	proxy	NOUN
ajfa-11077	174	67	for	for	ADP
ajfa-11077	174	68	sensitivity	sensitivity	NOUN
ajfa-11077	174	69	to	to	PART
ajfa-11077	174	70	risk	risk	VERB
ajfa-11077	174	71	factors	factor	NOUN
ajfa-11077	174	72	that	that	PRON
ajfa-11077	174	73	capture	capture	VERB
ajfa-11077	174	74	strong	strong	ADJ
ajfa-11077	174	75	common	common	ADJ
ajfa-11077	174	76	variation	variation	NOUN
ajfa-11077	174	77	in	in	ADP
ajfa-11077	174	78	stock	stock	NOUN
ajfa-11077	174	79	returns	return	NOUN
ajfa-11077	174	80	and	and	CCONJ
ajfa-11077	174	81	will	will	AUX
ajfa-11077	174	82	help	help	VERB
ajfa-11077	174	83	to	to	PART
ajfa-11077	174	84	explain	explain	VERB
ajfa-11077	174	85	the	the	DET
ajfa-11077	174	86	average	average	ADJ
ajfa-11077	174	87	returns	return	NOUN
ajfa-11077	174	88	and	and	CCONJ
ajfa-11077	174	89	then	then	ADV
ajfa-11077	174	90	firm	firm	PROPN
ajfa-11077	174	91	’s	’s	PART
ajfa-11077	174	92	profitability	profitability	NOUN
ajfa-11077	174	93	.	.	PUNCT
ajfa-11077	175	1	such	such	ADJ
ajfa-11077	175	2	that	that	PRON
ajfa-11077	175	3	,	,	PUNCT
ajfa-11077	175	4	let	let	AUX
ajfa-11077	175	5	tisize	tisize	VERB
ajfa-11077	175	6	,	,	PUNCT
ajfa-11077	175	7	denote	denote	VERB
ajfa-11077	175	8	the	the	DET
ajfa-11077	175	9	size	size	NOUN
ajfa-11077	175	10	of	of	ADP
ajfa-11077	175	11	the	the	DET
ajfa-11077	175	12	i	i	PROPN
ajfa-11077	175	13	-	-	PUNCT
ajfa-11077	175	14	th	th	VERB
ajfa-11077	175	15	firm	firm	NOUN
ajfa-11077	175	16	in	in	ADP
ajfa-11077	175	17	the	the	DET
ajfa-11077	175	18	t	t	PROPN
ajfa-11077	175	19	-	-	PUNCT
ajfa-11077	175	20	th	th	X
ajfa-11077	175	21	quarter	quarter	NOUN
ajfa-11077	175	22	which	which	PRON
ajfa-11077	175	23	is	be	AUX
ajfa-11077	175	24	defined	define	VERB
ajfa-11077	175	25	as	as	ADP
ajfa-11077	175	26	(	(	PUNCT
ajfa-11077	175	27	)	)	PUNCT
ajfa-11077	175	28	titi	titi	ADJ
ajfa-11077	175	29	capsize	capsize	NOUN
ajfa-11077	175	30	,	,	PUNCT
ajfa-11077	175	31	,	,	PUNCT
ajfa-11077	175	32	ln≡	ln≡	PROPN
ajfa-11077	175	33	,	,	PUNCT
ajfa-11077	175	34	and	and	CCONJ
ajfa-11077	175	35	ticap	ticap	NOUN
ajfa-11077	175	36	,	,	PUNCT
ajfa-11077	175	37	is	be	AUX
ajfa-11077	175	38	the	the	DET
ajfa-11077	175	39	capitalization	capitalization	NOUN
ajfa-11077	175	40	of	of	ADP
ajfa-11077	175	41	the	the	DET
ajfa-11077	175	42	firm	firm	NOUN
ajfa-11077	175	43	in	in	ADP
ajfa-11077	175	44	the	the	DET
ajfa-11077	175	45	t	t	PROPN
ajfa-11077	175	46	-	-	PUNCT
ajfa-11077	175	47	th	th	VERB
ajfa-11077	175	48	quarter	quarter	NOUN
ajfa-11077	175	49	.	.	PUNCT
ajfa-11077	176	1	tia	tia	PROPN
ajfa-11077	176	2	,	,	PUNCT
ajfa-11077	176	3	is	be	AUX
ajfa-11077	176	4	the	the	DET
ajfa-11077	176	5	white	white	ADJ
ajfa-11077	176	6	noises	noise	NOUN
ajfa-11077	176	7	.	.	PUNCT
ajfa-11077	177	1	4	4	X
ajfa-11077	177	2	.	.	X
ajfa-11077	177	3	data	datum	NOUN
ajfa-11077	177	4	this	this	DET
ajfa-11077	177	5	paper	paper	NOUN
ajfa-11077	177	6	selected	select	VERB
ajfa-11077	177	7	twelve	twelve	NUM
ajfa-11077	177	8	hotel	hotel	NOUN
ajfa-11077	177	9	companies	company	NOUN
ajfa-11077	177	10	listed	list	VERB
ajfa-11077	177	11	on	on	ADP
ajfa-11077	177	12	taiwan	taiwan	PROPN
ajfa-11077	177	13	stock	stock	PROPN
ajfa-11077	177	14	exchange	exchange	PROPN
ajfa-11077	177	15	(	(	PUNCT
ajfa-11077	177	16	twse	twse	PROPN
ajfa-11077	177	17	)	)	PUNCT
ajfa-11077	177	18	,	,	PUNCT
ajfa-11077	177	19	and	and	CCONJ
ajfa-11077	177	20	downloaded	download	VERB
ajfa-11077	177	21	their	their	PRON
ajfa-11077	177	22	quarterly	quarterly	ADJ
ajfa-11077	177	23	roa	roa	NOUN
ajfa-11077	177	24	,	,	PUNCT
ajfa-11077	177	25	roe	roe	NOUN
ajfa-11077	177	26	and	and	CCONJ
ajfa-11077	177	27	capitalization	capitalization	NOUN
ajfa-11077	177	28	from	from	ADP
ajfa-11077	177	29	taiwan	taiwan	PROPN
ajfa-11077	177	30	economic	economic	PROPN
ajfa-11077	177	31	journal	journal	PROPN
ajfa-11077	177	32	(	(	PUNCT
ajfa-11077	177	33	tej	tej	PROPN
ajfa-11077	177	34	)	)	PUNCT
ajfa-11077	177	35	.	.	PUNCT
ajfa-11077	178	1	they	they	PRON
ajfa-11077	178	2	are	be	AUX
ajfa-11077	178	3	hotel	hotel	NOUN
ajfa-11077	178	4	holiday	holiday	NOUN
ajfa-11077	178	5	garden(2702	garden(2702	PROPN
ajfa-11077	178	6	)	)	PUNCT
ajfa-11077	178	7	,	,	PUNCT
ajfa-11077	178	8	the	the	DET
ajfa-11077	178	9	ambassador	ambassador	NOUN
ajfa-11077	178	10	hotel	hotel	NOUN
ajfa-11077	178	11	ltd.(2704	ltd.(2704	PROPN
ajfa-11077	178	12	)	)	PUNCT
ajfa-11077	178	13	,	,	PUNCT
ajfa-11077	178	14	the	the	DET
ajfa-11077	178	15	leofoo	leofoo	PROPN
ajfa-11077	178	16	development	development	PROPN
ajfa-11077	178	17	co.	co.	PROPN
ajfa-11077	178	18	,	,	PUNCT
ajfa-11077	178	19	ltd.(2705	ltd.(2705	PROPN
ajfa-11077	178	20	)	)	PUNCT
ajfa-11077	178	21	,	,	PUNCT
ajfa-11077	178	22	first	first	ADJ
ajfa-11077	178	23	hotel	hotel	PROPN
ajfa-11077	178	24	company	company	NOUN
ajfa-11077	178	25	ltd.(2706	ltd.(2706	PROPN
ajfa-11077	178	26	)	)	PUNCT
ajfa-11077	178	27	,	,	PUNCT
ajfa-11077	178	28	formosa	formosa	PROPN
ajfa-11077	178	29	international	international	PROPN
ajfa-11077	178	30	hotels	hotel	NOUN
ajfa-11077	178	31	corporation(2707	corporation(2707	NOUN
ajfa-11077	178	32	)	)	PUNCT
ajfa-11077	178	33	,	,	PUNCT
ajfa-11077	178	34	farglory	farglory	NOUN
ajfa-11077	178	35	hotel	hotel	PROPN
ajfa-11077	178	36	co.	co.	PROPN
ajfa-11077	178	37	,	,	PUNCT
ajfa-11077	178	38	ltd.(2712	ltd.(2712	NOUN
ajfa-11077	178	39	)	)	PUNCT
ajfa-11077	178	40	,	,	PUNCT
ajfa-11077	178	41	pleasant	pleasant	ADJ
ajfa-11077	178	42	hotels	hotel	NOUN
ajfa-11077	178	43	international	international	ADJ
ajfa-11077	178	44	inc.(2718	inc.(2718	NOUN
ajfa-11077	178	45	)	)	PUNCT
ajfa-11077	178	46	,	,	PUNCT
ajfa-11077	178	47	chateau	chateau	PROPN
ajfa-11077	178	48	international	international	PROPN
ajfa-11077	178	49	development	development	PROPN
ajfa-11077	178	50	co.	co.	PROPN
ajfa-11077	178	51	,	,	PUNCT
ajfa-11077	178	52	ltd.(2722	ltd.(2722	PROPN
ajfa-11077	178	53	)	)	PUNCT
ajfa-11077	178	54	,	,	PUNCT
ajfa-11077	178	55	fx	fx	PROPN
ajfa-11077	178	56	hotels	hotel	NOUN
ajfa-11077	178	57	group	group	NOUN
ajfa-11077	178	58	inc.(2724	inc.(2724	PROPN
ajfa-11077	178	59	-	-	PUNCT
ajfa-11077	178	60	f	f	NOUN
ajfa-11077	178	61	)	)	PUNCT
ajfa-11077	178	62	,	,	PUNCT
ajfa-11077	178	63	janfusun	janfusun	NOUN
ajfa-11077	178	64	fancyworld	fancyworld	PROPN
ajfa-11077	178	65	corp.(5701	corp.(5701	PROPN
ajfa-11077	178	66	)	)	PUNCT
ajfa-11077	178	67	,	,	PUNCT
ajfa-11077	178	68	the	the	DET
ajfa-11077	178	69	landis	landis	PROPN
ajfa-11077	178	70	taipei	taipei	PROPN
ajfa-11077	178	71	hotel	hotel	PROPN
ajfa-11077	178	72	co.	co.	PROPN
ajfa-11077	178	73	,	,	PUNCT
ajfa-11077	178	74	ltd.(5703	ltd.(5703	NOUN
ajfa-11077	178	75	)	)	PUNCT
ajfa-11077	178	76	,	,	PUNCT
ajfa-11077	178	77	and	and	CCONJ
ajfa-11077	178	78	hotel	hotel	NOUN
ajfa-11077	178	79	royal	royal	NOUN
ajfa-11077	178	80	chihpen(5704	chihpen(5704	NUM
ajfa-11077	178	81	)	)	PUNCT
ajfa-11077	178	82	.	.	PUNCT
ajfa-11077	179	1	period	period	NOUN
ajfa-11077	179	2	is	be	AUX
ajfa-11077	179	3	from	from	ADP
ajfa-11077	179	4	2000q1	2000q1	NOUN
ajfa-11077	179	5	to	to	ADP
ajfa-11077	179	6	2015q3	2015q3	NUM
ajfa-11077	179	7	and	and	CCONJ
ajfa-11077	179	8	sum	sum	VERB
ajfa-11077	179	9	to	to	ADP
ajfa-11077	179	10	489	489	NUM
ajfa-11077	179	11	firm	firm	ADJ
ajfa-11077	179	12	-	-	PUNCT
ajfa-11077	179	13	quarters	quarter	NOUN
ajfa-11077	179	14	.	.	PUNCT
ajfa-11077	180	1	table	table	NOUN
ajfa-11077	180	2	1	1	NUM
ajfa-11077	180	3	shows	show	VERB
ajfa-11077	180	4	the	the	DET
ajfa-11077	180	5	descriptive	descriptive	ADJ
ajfa-11077	180	6	statistics	statistic	NOUN
ajfa-11077	180	7	of	of	ADP
ajfa-11077	180	8	the	the	DET
ajfa-11077	180	9	firm	firm	NOUN
ajfa-11077	180	10	’s	’s	PART
ajfa-11077	180	11	roa	roa	NOUN
ajfa-11077	180	12	and	and	CCONJ
ajfa-11077	180	13	roe	roe	PROPN
ajfa-11077	180	14	,	,	PUNCT
ajfa-11077	180	15	respectively	respectively	ADV
ajfa-11077	180	16	.	.	PUNCT
ajfa-11077	180	17	table	table	NOUN
ajfa-11077	180	18	1(a	1(a	NUM
ajfa-11077	180	19	)	)	PUNCT
ajfa-11077	180	20	.	.	PUNCT
ajfa-11077	181	1	descriptive	descriptive	ADJ
ajfa-11077	181	2	statistics	statistic	NOUN
ajfa-11077	181	3	of	of	ADP
ajfa-11077	181	4	roa	roa	PROPN
ajfa-11077	181	5	.	.	PROPN
ajfa-11077	181	6	roa	roa	PROPN
ajfa-11077	181	7	(	(	PUNCT
ajfa-11077	181	8	%	%	INTJ
ajfa-11077	181	9	)	)	PUNCT
ajfa-11077	181	10	obs	obs	PROPN
ajfa-11077	181	11	.	.	PUNCT
ajfa-11077	182	1	mean	mean	VERB
ajfa-11077	182	2	std	std	PROPN
ajfa-11077	182	3	.	.	PROPN
ajfa-11077	183	1	dev	dev	PROPN
ajfa-11077	183	2	.	.	PUNCT
ajfa-11077	184	1	max	max	PROPN
ajfa-11077	184	2	min	min	PROPN
ajfa-11077	184	3	median	median	PROPN
ajfa-11077	184	4	2702hg	2702hg	PROPN
ajfa-11077	184	5	63	63	NUM
ajfa-11077	184	6	0.661	0.661	NUM
ajfa-11077	184	7	0.820	0.820	NUM
ajfa-11077	184	8	2.94	2.94	NUM
ajfa-11077	184	9	-1.43	-1.43	NUM
ajfa-11077	184	10	0.740	0.740	NUM
ajfa-11077	184	11	2704ambh	2704ambh	NUM
ajfa-11077	184	12	63	63	NUM
ajfa-11077	184	13	0.641	0.641	NUM
ajfa-11077	184	14	0.565	0.565	NUM
ajfa-11077	184	15	1.47	1.47	NUM
ajfa-11077	184	16	-1.29	-1.29	NUM
ajfa-11077	184	17	0.740	0.740	NUM
ajfa-11077	184	18	2705leofoo	2705leofoo	NUM
ajfa-11077	184	19	32	32	NUM
ajfa-11077	184	20	-0.136	-0.136	NUM
ajfa-11077	184	21	1.298	1.298	NUM
ajfa-11077	184	22	5.40	5.40	NUM
ajfa-11077	184	23	-5.03	-5.03	NOUN
ajfa-11077	184	24	-0.225	-0.225	NUM
ajfa-11077	184	25	2706first	2706first	NUM
ajfa-11077	184	26	hotel	hotel	NOUN
ajfa-11077	184	27	32	32	NUM
ajfa-11077	184	28	1.398	1.398	NUM
ajfa-11077	184	29	1.105	1.105	NUM
ajfa-11077	184	30	7.28	7.28	NUM
ajfa-11077	184	31	0.54	0.54	NUM
ajfa-11077	184	32	1.160	1.160	NUM
ajfa-11077	184	33	2707gfrt	2707gfrt	NUM
ajfa-11077	184	34	63	63	NUM
ajfa-11077	184	35	4.392	4.392	NUM
ajfa-11077	184	36	1.195	1.195	NUM
ajfa-11077	184	37	7.55	7.55	NUM
ajfa-11077	184	38	1.27	1.27	NUM
ajfa-11077	184	39	4.360	4.360	NUM
ajfa-11077	184	40	2712fgh	2712fgh	NUM
ajfa-11077	184	41	11	11	NUM
ajfa-11077	184	42	1.383	1.383	NUM
ajfa-11077	184	43	1.244	1.244	NUM
ajfa-11077	184	44	3.68	3.68	NUM
ajfa-11077	184	45	-0.12	-0.12	NUM
ajfa-11077	184	46	0.870	0.870	NUM
ajfa-11077	184	47	2718ph	2718ph	NOUN
ajfa-11077	184	48	25	25	NUM
ajfa-11077	184	49	0.944	0.944	NUM
ajfa-11077	184	50	0.873	0.873	NUM
ajfa-11077	184	51	2.40	2.40	NUM
ajfa-11077	184	52	-1.20	-1.20	NUM
ajfa-11077	184	53	0.840	0.840	NUM
ajfa-11077	184	54	2722chateau	2722chateau	NUM
ajfa-11077	184	55	21	21	NUM
ajfa-11077	184	56	2.732	2.732	NUM
ajfa-11077	184	57	2.632	2.632	NUM
ajfa-11077	184	58	8.38	8.38	NUM
ajfa-11077	184	59	-0.60	-0.60	NUM
ajfa-11077	184	60	2.380	2.380	NUM
ajfa-11077	184	61	2724fx	2724fx	ADJ
ajfa-11077	184	62	hotels	hotel	NOUN
ajfa-11077	184	63	21	21	NUM
ajfa-11077	184	64	1.179	1.179	NUM
ajfa-11077	184	65	1.770	1.770	NUM
ajfa-11077	184	66	5.74	5.74	NUM
ajfa-11077	184	67	-2.45	-2.45	NUM
ajfa-11077	184	68	1.550	1.550	NUM
ajfa-11077	184	69	5701jfs	5701jfs	NUM
ajfa-11077	184	70	32	32	NUM
ajfa-11077	184	71	-1.462	-1.462	PROPN
ajfa-11077	184	72	1.341	1.341	NUM
ajfa-11077	184	73	1.73	1.73	NUM
ajfa-11077	184	74	-5.76	-5.76	NUM
ajfa-11077	184	75	-1.470	-1.470	NUM
ajfa-11077	184	76	5703landis	5703landis	NUM
ajfa-11077	184	77	taipei	taipei	PROPN
ajfa-11077	184	78	63	63	NUM
ajfa-11077	184	79	0.419	0.419	NUM
ajfa-11077	184	80	1.724	1.724	NUM
ajfa-11077	184	81	3.20	3.20	NUM
ajfa-11077	184	82	-8.97	-8.97	NOUN
ajfa-11077	184	83	0.740	0.740	NUM
ajfa-11077	184	84	5704chihpen	5704chihpen	ADJ
ajfa-11077	184	85	royal	royal	NOUN
ajfa-11077	184	86	63	63	NUM
ajfa-11077	184	87	1.040	1.040	NUM
ajfa-11077	184	88	1.381	1.381	NUM
ajfa-11077	184	89	3.62	3.62	NUM
ajfa-11077	184	90	-3.49	-3.49	NUM
ajfa-11077	184	91	1.210	1.210	NUM
ajfa-11077	184	92	asian	asian	ADJ
ajfa-11077	184	93	journal	journal	NOUN
ajfa-11077	184	94	of	of	ADP
ajfa-11077	184	95	finance	finance	PROPN
ajfa-11077	184	96	&	&	CCONJ
ajfa-11077	184	97	accounting	accounting	PROPN
ajfa-11077	184	98	issn	issn	PROPN
ajfa-11077	184	99	1946	1946	NUM
ajfa-11077	184	100	-	-	PUNCT
ajfa-11077	184	101	052x	052x	PROPN
ajfa-11077	184	102	2017	2017	NUM
ajfa-11077	184	103	,	,	PUNCT
ajfa-11077	184	104	vol	vol	NOUN
ajfa-11077	184	105	.	.	NOUN
ajfa-11077	184	106	9	9	NUM
ajfa-11077	184	107	,	,	PUNCT
ajfa-11077	184	108	no	no	INTJ
ajfa-11077	184	109	.	.	NOUN
ajfa-11077	184	110	1	1	NUM
ajfa-11077	184	111	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	184	112	285	285	NUM
ajfa-11077	184	113	table	table	NOUN
ajfa-11077	184	114	1(b	1(b	NUM
ajfa-11077	184	115	)	)	PUNCT
ajfa-11077	184	116	.	.	PUNCT
ajfa-11077	185	1	descriptive	descriptive	ADJ
ajfa-11077	185	2	statistics	statistic	NOUN
ajfa-11077	185	3	of	of	ADP
ajfa-11077	185	4	roe	roe	PROPN
ajfa-11077	185	5	roe	roe	PROPN
ajfa-11077	185	6	(	(	PUNCT
ajfa-11077	185	7	%	%	INTJ
ajfa-11077	185	8	)	)	PUNCT
ajfa-11077	185	9	obs	obs	PROPN
ajfa-11077	185	10	.	.	PUNCT
ajfa-11077	186	1	mean	mean	VERB
ajfa-11077	186	2	std	std	PROPN
ajfa-11077	186	3	.	.	PROPN
ajfa-11077	187	1	dev	dev	PROPN
ajfa-11077	187	2	.	.	PUNCT
ajfa-11077	188	1	max	max	PROPN
ajfa-11077	188	2	min	min	PROPN
ajfa-11077	188	3	median	median	PROPN
ajfa-11077	188	4	2702	2702	NUM
ajfa-11077	188	5	hg	hg	PROPN
ajfa-11077	188	6	63	63	NUM
ajfa-11077	188	7	0.804	0.804	NUM
ajfa-11077	188	8	1.276	1.276	NUM
ajfa-11077	188	9	3.77	3.77	NUM
ajfa-11077	188	10	-2.97	-2.97	NOUN
ajfa-11077	188	11	0.940	0.940	NUM
ajfa-11077	188	12	2704ambh	2704ambh	NUM
ajfa-11077	188	13	63	63	NUM
ajfa-11077	188	14	0.704	0.704	NUM
ajfa-11077	188	15	0.956	0.956	NUM
ajfa-11077	188	16	2.18	2.18	NUM
ajfa-11077	188	17	-2.96	-2.96	NUM
ajfa-11077	188	18	0.880	0.880	NUM
ajfa-11077	188	19	2705leofoo	2705leofoo	NUM
ajfa-11077	188	20	32	32	NUM
ajfa-11077	189	1	-0.415	-0.415	NUM
ajfa-11077	190	1	2.565	2.565	NUM
ajfa-11077	190	2	11.04	11.04	NUM
ajfa-11077	190	3	-9.90	-9.90	PRON
ajfa-11077	190	4	-0.695	-0.695	NOUN
ajfa-11077	190	5	2706first	2706first	NUM
ajfa-11077	190	6	hotel	hotel	NOUN
ajfa-11077	190	7	32	32	NUM
ajfa-11077	190	8	1.668	1.668	NUM
ajfa-11077	190	9	1.339	1.339	NUM
ajfa-11077	190	10	8.71	8.71	NUM
ajfa-11077	190	11	0.67	0.67	NUM
ajfa-11077	190	12	1.390	1.390	NUM
ajfa-11077	190	13	2707gfrt	2707gfrt	NUM
ajfa-11077	190	14	63	63	NUM
ajfa-11077	190	15	6.645	6.645	NUM
ajfa-11077	190	16	2.205	2.205	NUM
ajfa-11077	190	17	11.13	11.13	NUM
ajfa-11077	190	18	1.50	1.50	NUM
ajfa-11077	190	19	6.700	6.700	NUM
ajfa-11077	190	20	2712fgh	2712fgh	NUM
ajfa-11077	190	21	11	11	NUM
ajfa-11077	190	22	1.794	1.794	NUM
ajfa-11077	190	23	1.782	1.782	NUM
ajfa-11077	190	24	4.81	4.81	NUM
ajfa-11077	190	25	-0.44	-0.44	NUM
ajfa-11077	190	26	1.100	1.100	NUM
ajfa-11077	190	27	2718ph	2718ph	NOUN
ajfa-11077	190	28	25	25	NUM
ajfa-11077	190	29	1.220	1.220	NUM
ajfa-11077	190	30	1.109	1.109	NUM
ajfa-11077	190	31	2.99	2.99	NUM
ajfa-11077	190	32	-1.62	-1.62	NUM
ajfa-11077	190	33	1.160	1.160	NUM
ajfa-11077	190	34	2722chateau	2722chateau	NOUN
ajfa-11077	190	35	21	21	NUM
ajfa-11077	190	36	3.313	3.313	NUM
ajfa-11077	190	37	3.335	3.335	NUM
ajfa-11077	190	38	11.24	11.24	NUM
ajfa-11077	190	39	-0.68	-0.68	NOUN
ajfa-11077	190	40	3.060	3.060	NUM
ajfa-11077	190	41	2724fx	2724fx	ADJ
ajfa-11077	190	42	hotels	hotel	NOUN
ajfa-11077	190	43	21	21	NUM
ajfa-11077	190	44	1.418	1.418	NUM
ajfa-11077	190	45	3.958	3.958	NUM
ajfa-11077	190	46	6.96	6.96	NUM
ajfa-11077	190	47	-8.83	-8.83	NUM
ajfa-11077	190	48	2.210	2.210	NUM
ajfa-11077	190	49	5701jfs	5701jfs	NOUN
ajfa-11077	190	50	32	32	NUM
ajfa-11077	190	51	-3.217	-3.217	NUM
ajfa-11077	190	52	2.462	2.462	NUM
ajfa-11077	190	53	2.47	2.47	NUM
ajfa-11077	190	54	-11.24	-11.24	PROPN
ajfa-11077	190	55	-3.300	-3.300	PUNCT
ajfa-11077	191	1	5703landis	5703landis	NUM
ajfa-11077	191	2	taipei	taipei	PROPN
ajfa-11077	191	3	63	63	NUM
ajfa-11077	191	4	0.612	0.612	NUM
ajfa-11077	191	5	2.338	2.338	NUM
ajfa-11077	191	6	4.48	4.48	NUM
ajfa-11077	191	7	-11.76	-11.76	PROPN
ajfa-11077	191	8	1.040	1.040	NUM
ajfa-11077	191	9	5704chihpen	5704chihpen	ADJ
ajfa-11077	191	10	royal	royal	NOUN
ajfa-11077	191	11	63	63	NUM
ajfa-11077	191	12	1.192	1.192	NUM
ajfa-11077	191	13	1.581	1.581	NUM
ajfa-11077	191	14	4.19	4.19	NUM
ajfa-11077	191	15	-3.83	-3.83	NUM
ajfa-11077	191	16	1.300	1.300	NUM
ajfa-11077	191	17	source	source	NOUN
ajfa-11077	191	18	:	:	PUNCT
ajfa-11077	191	19	taiwan	taiwan	PROPN
ajfa-11077	191	20	economic	economic	PROPN
ajfa-11077	191	21	journal	journal	PROPN
ajfa-11077	191	22	(	(	PUNCT
ajfa-11077	191	23	tej	tej	PROPN
ajfa-11077	191	24	)	)	PUNCT
ajfa-11077	191	25	.	.	PUNCT
ajfa-11077	192	1	in	in	ADP
ajfa-11077	192	2	table	table	NOUN
ajfa-11077	192	3	1	1	NUM
ajfa-11077	192	4	,	,	PUNCT
ajfa-11077	192	5	we	we	PRON
ajfa-11077	192	6	may	may	AUX
ajfa-11077	192	7	find	find	VERB
ajfa-11077	192	8	that	that	SCONJ
ajfa-11077	192	9	the	the	DET
ajfa-11077	192	10	formosa	formosa	PROPN
ajfa-11077	192	11	international	international	PROPN
ajfa-11077	192	12	hotels	hotel	NOUN
ajfa-11077	192	13	corporation(2707	corporation(2707	NOUN
ajfa-11077	192	14	)	)	PUNCT
ajfa-11077	192	15	has	have	VERB
ajfa-11077	192	16	the	the	DET
ajfa-11077	192	17	highest	high	ADJ
ajfa-11077	192	18	roa	roa	NOUN
ajfa-11077	192	19	and	and	CCONJ
ajfa-11077	192	20	roe	roe	PROPN
ajfa-11077	192	21	,	,	PUNCT
ajfa-11077	192	22	however	however	ADV
ajfa-11077	192	23	,	,	PUNCT
ajfa-11077	192	24	janfusun	janfusun	NOUN
ajfa-11077	192	25	fancyworld	fancyworld	NOUN
ajfa-11077	192	26	corp.(5701	corp.(5701	PROPN
ajfa-11077	192	27	)	)	PUNCT
ajfa-11077	192	28	has	have	VERB
ajfa-11077	192	29	the	the	DET
ajfa-11077	192	30	lowest	low	ADJ
ajfa-11077	192	31	roa	roa	NOUN
ajfa-11077	192	32	and	and	CCONJ
ajfa-11077	192	33	roe	roe	PROPN
ajfa-11077	192	34	.	.	PUNCT
ajfa-11077	193	1	and	and	CCONJ
ajfa-11077	193	2	except	except	SCONJ
ajfa-11077	193	3	of	of	ADP
ajfa-11077	193	4	janfusun	janfusun	PROPN
ajfa-11077	193	5	fancyworld	fancyworld	PROPN
ajfa-11077	193	6	corp	corp	PROPN
ajfa-11077	193	7	.	.	PROPN
ajfa-11077	193	8	and	and	CCONJ
ajfa-11077	193	9	the	the	DET
ajfa-11077	193	10	leofoo	leofoo	PROPN
ajfa-11077	193	11	development	development	PROPN
ajfa-11077	193	12	co.	co.	PROPN
ajfa-11077	193	13	,	,	PUNCT
ajfa-11077	193	14	ltd	ltd	PROPN
ajfa-11077	193	15	.	.	PROPN
ajfa-11077	193	16	(	(	PUNCT
ajfa-11077	193	17	2705	2705	NUM
ajfa-11077	193	18	)	)	PUNCT
ajfa-11077	193	19	,	,	PUNCT
ajfa-11077	193	20	the	the	DET
ajfa-11077	193	21	others	other	NOUN
ajfa-11077	193	22	are	be	AUX
ajfa-11077	193	23	well	well	ADV
ajfa-11077	193	24	-	-	PUNCT
ajfa-11077	193	25	performed	perform	VERB
ajfa-11077	193	26	since	since	SCONJ
ajfa-11077	193	27	they	they	PRON
ajfa-11077	193	28	all	all	PRON
ajfa-11077	193	29	have	have	VERB
ajfa-11077	193	30	a	a	DET
ajfa-11077	193	31	positive	positive	ADJ
ajfa-11077	193	32	average	average	ADJ
ajfa-11077	193	33	roa	roa	NOUN
ajfa-11077	193	34	or	or	CCONJ
ajfa-11077	193	35	roe	roe	NOUN
ajfa-11077	193	36	.	.	PUNCT
ajfa-11077	194	1	moreover	moreover	ADV
ajfa-11077	194	2	,	,	PUNCT
ajfa-11077	194	3	the	the	DET
ajfa-11077	194	4	ambassador	ambassador	PROPN
ajfa-11077	194	5	hotel	hotel	PROPN
ajfa-11077	194	6	ltd	ltd	PROPN
ajfa-11077	194	7	.	.	PROPN
ajfa-11077	194	8	(	(	PUNCT
ajfa-11077	194	9	2704	2704	NUM
ajfa-11077	194	10	)	)	PUNCT
ajfa-11077	194	11	has	have	VERB
ajfa-11077	194	12	the	the	DET
ajfa-11077	194	13	lowest	low	ADJ
ajfa-11077	194	14	volatility	volatility	NOUN
ajfa-11077	194	15	of	of	ADP
ajfa-11077	194	16	roa	roa	PROPN
ajfa-11077	194	17	and	and	CCONJ
ajfa-11077	194	18	roe	roe	PROPN
ajfa-11077	194	19	.	.	PUNCT
ajfa-11077	195	1	on	on	ADP
ajfa-11077	195	2	the	the	DET
ajfa-11077	195	3	other	other	ADJ
ajfa-11077	195	4	hand	hand	NOUN
ajfa-11077	195	5	,	,	PUNCT
ajfa-11077	195	6	chateau	chateau	PROPN
ajfa-11077	195	7	international	international	PROPN
ajfa-11077	195	8	development	development	PROPN
ajfa-11077	195	9	co.	co.	PROPN
ajfa-11077	195	10	,	,	PUNCT
ajfa-11077	195	11	ltd	ltd	PROPN
ajfa-11077	195	12	.	.	PROPN
ajfa-11077	195	13	(	(	PUNCT
ajfa-11077	195	14	2722	2722	NUM
ajfa-11077	195	15	)	)	PUNCT
ajfa-11077	195	16	and	and	CCONJ
ajfa-11077	195	17	the	the	DET
ajfa-11077	195	18	fx	fx	PROPN
ajfa-11077	195	19	hotels	hotels	PROPN
ajfa-11077	195	20	group	group	PROPN
ajfa-11077	195	21	inc	inc	PROPN
ajfa-11077	195	22	.	.	PROPN
ajfa-11077	195	23	(	(	PUNCT
ajfa-11077	195	24	2724	2724	NUM
ajfa-11077	195	25	-	-	SYM
ajfa-11077	195	26	f)have	f)have	VERB
ajfa-11077	195	27	the	the	DET
ajfa-11077	195	28	highest	high	ADJ
ajfa-11077	195	29	volatility	volatility	NOUN
ajfa-11077	195	30	of	of	ADP
ajfa-11077	195	31	roa	roa	PROPN
ajfa-11077	195	32	and	and	CCONJ
ajfa-11077	195	33	roe	roe	PROPN
ajfa-11077	195	34	,	,	PUNCT
ajfa-11077	195	35	respectively	respectively	ADV
ajfa-11077	195	36	.	.	PUNCT
ajfa-11077	196	1	it	it	PRON
ajfa-11077	196	2	may	may	AUX
ajfa-11077	196	3	result	result	VERB
ajfa-11077	196	4	from	from	ADP
ajfa-11077	196	5	the	the	DET
ajfa-11077	196	6	shortest	short	ADJ
ajfa-11077	196	7	listing	listing	NOUN
ajfa-11077	196	8	data	datum	NOUN
ajfa-11077	196	9	of	of	ADP
ajfa-11077	196	10	these	these	DET
ajfa-11077	196	11	two	two	NUM
ajfa-11077	196	12	companies	company	NOUN
ajfa-11077	196	13	.	.	PUNCT
ajfa-11077	197	1	next	next	ADV
ajfa-11077	197	2	,	,	PUNCT
ajfa-11077	197	3	the	the	DET
ajfa-11077	197	4	foreign	foreign	ADJ
ajfa-11077	197	5	exchange	exchange	NOUN
ajfa-11077	197	6	rates	rate	NOUN
ajfa-11077	197	7	were	be	AUX
ajfa-11077	197	8	collected	collect	VERB
ajfa-11077	197	9	from	from	ADP
ajfa-11077	197	10	2000	2000	NUM
ajfa-11077	197	11	to	to	ADP
ajfa-11077	197	12	2015	2015	NUM
ajfa-11077	197	13	through	through	ADP
ajfa-11077	197	14	the	the	DET
ajfa-11077	197	15	website2	website2	NOUN
ajfa-11077	197	16	of	of	ADP
ajfa-11077	197	17	the	the	DET
ajfa-11077	197	18	central	central	ADJ
ajfa-11077	197	19	bank	bank	PROPN
ajfa-11077	197	20	of	of	ADP
ajfa-11077	197	21	taiwan	taiwan	PROPN
ajfa-11077	197	22	.	.	PUNCT
ajfa-11077	198	1	the	the	DET
ajfa-11077	198	2	equation	equation	NOUN
ajfa-11077	198	3	(	(	PUNCT
ajfa-11077	198	4	13	13	NUM
ajfa-11077	198	5	)	)	PUNCT
ajfa-11077	198	6	calculates	calculate	VERB
ajfa-11077	198	7	the	the	DET
ajfa-11077	198	8	quarterly	quarterly	ADJ
ajfa-11077	198	9	and	and	CCONJ
ajfa-11077	198	10	monthly	monthly	ADJ
ajfa-11077	198	11	percentage	percentage	NOUN
ajfa-11077	198	12	change	change	NOUN
ajfa-11077	198	13	of	of	ADP
ajfa-11077	198	14	exchange	exchange	NOUN
ajfa-11077	198	15	rates	rate	NOUN
ajfa-11077	198	16	for	for	ADP
ajfa-11077	198	17	the	the	DET
ajfa-11077	198	18	currencies	currency	NOUN
ajfa-11077	198	19	against	against	ADP
ajfa-11077	198	20	to	to	ADP
ajfa-11077	198	21	the	the	DET
ajfa-11077	198	22	nt	nt	ADJ
ajfa-11077	198	23	dollars	dollar	NOUN
ajfa-11077	198	24	(	(	PUNCT
ajfa-11077	198	25	ntd	ntd	NOUN
ajfa-11077	198	26	)	)	PUNCT
ajfa-11077	198	27	.	.	PUNCT
ajfa-11077	199	1	table	table	NOUN
ajfa-11077	199	2	2	2	NUM
ajfa-11077	199	3	shows	show	VERB
ajfa-11077	199	4	the	the	DET
ajfa-11077	199	5	descriptive	descriptive	ADJ
ajfa-11077	199	6	statistics	statistic	NOUN
ajfa-11077	199	7	of	of	ADP
ajfa-11077	199	8	the	the	DET
ajfa-11077	199	9	monthly	monthly	ADJ
ajfa-11077	199	10	change	change	NOUN
ajfa-11077	199	11	of	of	ADP
ajfa-11077	199	12	foreign	foreign	ADJ
ajfa-11077	199	13	exchange	exchange	NOUN
ajfa-11077	199	14	rates	rate	NOUN
ajfa-11077	199	15	.	.	PUNCT
ajfa-11077	200	1	2http://www.cbc.gov.tw/content.asp?mp=1&cuitem=36599	2http://www.cbc.gov.tw/content.asp?mp=1&cuitem=36599	NUM
ajfa-11077	200	2	.	.	NOUN
ajfa-11077	200	3	asian	asian	ADJ
ajfa-11077	200	4	journal	journal	PROPN
ajfa-11077	200	5	of	of	ADP
ajfa-11077	200	6	finance	finance	PROPN
ajfa-11077	200	7	&	&	CCONJ
ajfa-11077	200	8	accounting	accounting	PROPN
ajfa-11077	200	9	issn	issn	PROPN
ajfa-11077	200	10	1946	1946	NUM
ajfa-11077	200	11	-	-	PUNCT
ajfa-11077	200	12	052x	052x	PROPN
ajfa-11077	200	13	2017	2017	NUM
ajfa-11077	200	14	,	,	PUNCT
ajfa-11077	200	15	vol	vol	NOUN
ajfa-11077	200	16	.	.	NOUN
ajfa-11077	200	17	9	9	NUM
ajfa-11077	200	18	,	,	PUNCT
ajfa-11077	200	19	no	no	INTJ
ajfa-11077	200	20	.	.	NOUN
ajfa-11077	200	21	1	1	NUM
ajfa-11077	200	22	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	200	23	286	286	NUM
ajfa-11077	200	24	table	table	NOUN
ajfa-11077	200	25	2	2	NUM
ajfa-11077	200	26	.	.	PUNCT
ajfa-11077	200	27	descriptive	descriptive	ADJ
ajfa-11077	200	28	statistics	statistic	NOUN
ajfa-11077	200	29	of	of	ADP
ajfa-11077	200	30	the	the	DET
ajfa-11077	200	31	monthly	monthly	ADJ
ajfa-11077	200	32	change	change	NOUN
ajfa-11077	200	33	of	of	ADP
ajfa-11077	200	34	exchange	exchange	NOUN
ajfa-11077	200	35	rates	rate	NOUN
ajfa-11077	200	36	monthly	monthly	ADJ
ajfa-11077	200	37	change	change	NOUN
ajfa-11077	200	38	(	(	PUNCT
ajfa-11077	200	39	%	%	INTJ
ajfa-11077	200	40	)	)	PUNCT
ajfa-11077	200	41	mean	mean	PROPN
ajfa-11077	201	1	std	std	PROPN
ajfa-11077	201	2	.	.	PROPN
ajfa-11077	202	1	dev	dev	PROPN
ajfa-11077	202	2	.	.	PUNCT
ajfa-11077	203	1	max	max	PROPN
ajfa-11077	203	2	min	min	PROPN
ajfa-11077	203	3	median	median	PROPN
ajfa-11077	203	4	cv	cv	PROPN
ajfa-11077	203	5	usd	usd	NOUN
ajfa-11077	203	6	0.0280	0.0280	NUM
ajfa-11077	203	7	1.1865	1.1865	NUM
ajfa-11077	203	8	3.3313	3.3313	NUM
ajfa-11077	203	9	-3.5798	-3.5798	NOUN
ajfa-11077	204	1	0.0232	0.0232	NUM
ajfa-11077	204	2	42.3750	42.3750	NUM
ajfa-11077	204	3	jpy	jpy	PROPN
ajfa-11077	204	4	-0.0353	-0.0353	PROPN
ajfa-11077	204	5	2.3233	2.3233	NUM
ajfa-11077	204	6	8.8309	8.8309	NUM
ajfa-11077	204	7	-6.0498	-6.0498	NOUN
ajfa-11077	204	8	-0.2280	-0.2280	NOUN
ajfa-11077	204	9	-65.8159	-65.8159	PUNCT
ajfa-11077	204	10	gbp	gbp	PROPN
ajfa-11077	204	11	0.0135	0.0135	NUM
ajfa-11077	204	12	1.9269	1.9269	NUM
ajfa-11077	204	13	5.7608	5.7608	NUM
ajfa-11077	204	14	-8.0517	-8.0517	NOUN
ajfa-11077	204	15	0.0901	0.0901	PROPN
ajfa-11077	204	16	142.7333	142.7333	NUM
ajfa-11077	204	17	cny	cny	NOUN
ajfa-11077	204	18	0.1664	0.1664	NUM
ajfa-11077	204	19	1.1449	1.1449	NUM
ajfa-11077	204	20	3.0715	3.0715	NUM
ajfa-11077	204	21	-3.4686	-3.4686	NOUN
ajfa-11077	204	22	0.1749	0.1749	NUM
ajfa-11077	204	23	6.8804	6.8804	NUM
ajfa-11077	204	24	eur	eur	NOUN
ajfa-11077	204	25	0.1016	0.1016	NUM
ajfa-11077	204	26	2.2251	2.2251	NUM
ajfa-11077	204	27	7.1016	7.1016	NUM
ajfa-11077	204	28	-5.2660	-5.2660	NOUN
ajfa-11077	205	1	0.2209	0.2209	NUM
ajfa-11077	205	2	21.9006	21.9006	NUM
ajfa-11077	205	3	hkd	hkd	PROPN
ajfa-11077	205	4	0.0294	0.0294	NUM
ajfa-11077	205	5	1.1841	1.1841	NUM
ajfa-11077	205	6	3.3179	3.3179	NUM
ajfa-11077	205	7	-3.5798	-3.5798	NOUN
ajfa-11077	205	8	0.0205	0.0205	NUM
ajfa-11077	205	9	40.2755	40.2755	NUM
ajfa-11077	205	10	krw	krw	PROPN
ajfa-11077	205	11	0.0170	0.0170	NUM
ajfa-11077	205	12	1.8737	1.8737	NUM
ajfa-11077	205	13	6.7195	6.7195	NUM
ajfa-11077	205	14	-12.3726	-12.3726	SYM
ajfa-11077	205	15	0.2496	0.2496	NUM
ajfa-11077	205	16	110.2176	110.2176	NUM
ajfa-11077	205	17	cad	cad	NOUN
ajfa-11077	205	18	0.0940	0.0940	NUM
ajfa-11077	205	19	1.8282	1.8282	NUM
ajfa-11077	205	20	5.0170	5.0170	NUM
ajfa-11077	205	21	-8.6264	-8.6264	NOUN
ajfa-11077	205	22	0.0351	0.0351	NOUN
ajfa-11077	205	23	19.4489	19.4489	NUM
ajfa-11077	205	24	sgd	sgd	NOUN
ajfa-11077	205	25	0.1155	0.1155	NUM
ajfa-11077	205	26	0.9621	0.9621	NUM
ajfa-11077	206	1	3.0253	3.0253	NUM
ajfa-11077	206	2	-3.4506	-3.4506	NOUN
ajfa-11077	206	3	0.1384	0.1384	NUM
ajfa-11077	206	4	8.3299	8.3299	NUM
ajfa-11077	206	5	aud	aud	NOUN
ajfa-11077	206	6	0.1074	0.1074	NUM
ajfa-11077	206	7	2.6040	2.6040	NUM
ajfa-11077	206	8	6.9746	6.9746	NUM
ajfa-11077	206	9	-13.5568	-13.5568	NUM
ajfa-11077	206	10	0.2725	0.2725	NUM
ajfa-11077	206	11	24.2458	24.2458	NUM
ajfa-11077	206	12	idr	idr	PROPN
ajfa-11077	206	13	-0.3005	-0.3005	NOUN
ajfa-11077	206	14	3.1096	3.1096	NUM
ajfa-11077	206	15	20.7023	20.7023	NUM
ajfa-11077	206	16	-13.5534	-13.5534	NUM
ajfa-11077	206	17	-0.2083	-0.2083	NOUN
ajfa-11077	206	18	-10.3481	-10.3481	NUM
ajfa-11077	206	19	thb	thb	PROPN
ajfa-11077	206	20	0.0602	0.0602	NUM
ajfa-11077	206	21	1.2869	1.2869	NUM
ajfa-11077	206	22	3.6022	3.6022	NUM
ajfa-11077	206	23	-4.5300	-4.5300	VERB
ajfa-11077	206	24	0.0806	0.0806	NUM
ajfa-11077	206	25	21.3771	21.3771	NUM
ajfa-11077	206	26	myr	myr	NOUN
ajfa-11077	206	27	-0.0366	-0.0366	NUM
ajfa-11077	207	1	1.2266	1.2266	NUM
ajfa-11077	207	2	3.0689	3.0689	NUM
ajfa-11077	207	3	-4.0603	-4.0603	NOUN
ajfa-11077	207	4	-0.0825	-0.0825	NOUN
ajfa-11077	207	5	-33.5137	-33.5137	PUNCT
ajfa-11077	207	6	php	php	PROPN
ajfa-11077	207	7	-0.0412	-0.0412	PROPN
ajfa-11077	207	8	1.5530	1.5530	NUM
ajfa-11077	207	9	4.3555	4.3555	NUM
ajfa-11077	207	10	-4.5580	-4.5580	ADJ
ajfa-11077	207	11	-0.1633	-0.1633	NOUN
ajfa-11077	207	12	-37.6942	-37.6942	PUNCT
ajfa-11077	207	13	source	source	NOUN
ajfa-11077	207	14	:	:	PUNCT
ajfa-11077	207	15	central	central	ADJ
ajfa-11077	207	16	bank	bank	PROPN
ajfa-11077	207	17	of	of	ADP
ajfa-11077	207	18	taiwan	taiwan	PROPN
ajfa-11077	207	19	.	.	PUNCT
ajfa-11077	208	1	in	in	ADP
ajfa-11077	208	2	table	table	NOUN
ajfa-11077	208	3	2	2	NUM
ajfa-11077	208	4	,	,	PUNCT
ajfa-11077	208	5	the	the	DET
ajfa-11077	208	6	lowest	low	ADJ
ajfa-11077	208	7	percentage	percentage	NOUN
ajfa-11077	208	8	change	change	NOUN
ajfa-11077	208	9	(	(	PUNCT
ajfa-11077	208	10	0.96	0.96	NUM
ajfa-11077	208	11	%	%	NOUN
ajfa-11077	208	12	)	)	PUNCT
ajfa-11077	208	13	of	of	ADP
ajfa-11077	208	14	the	the	DET
ajfa-11077	208	15	exchange	exchange	NOUN
ajfa-11077	208	16	rate	rate	NOUN
ajfa-11077	208	17	is	be	AUX
ajfa-11077	208	18	the	the	DET
ajfa-11077	208	19	singapore	singapore	PROPN
ajfa-11077	208	20	dollar	dollar	NOUN
ajfa-11077	208	21	against	against	ADP
ajfa-11077	208	22	to	to	ADP
ajfa-11077	208	23	nt	not	PART
ajfa-11077	208	24	dollar	dollar	NOUN
ajfa-11077	208	25	,	,	PUNCT
ajfa-11077	208	26	and	and	CCONJ
ajfa-11077	208	27	the	the	DET
ajfa-11077	208	28	highest	high	ADJ
ajfa-11077	208	29	percentage	percentage	NOUN
ajfa-11077	208	30	change	change	NOUN
ajfa-11077	208	31	(	(	PUNCT
ajfa-11077	208	32	3.11%)of	3.11%)of	NUM
ajfa-11077	208	33	the	the	DET
ajfa-11077	208	34	exchange	exchange	NOUN
ajfa-11077	208	35	rate	rate	NOUN
ajfa-11077	208	36	is	be	AUX
ajfa-11077	208	37	the	the	DET
ajfa-11077	208	38	indonesian	indonesian	ADJ
ajfa-11077	208	39	rupiah	rupiah	NOUN
ajfa-11077	208	40	against	against	ADP
ajfa-11077	208	41	to	to	ADP
ajfa-11077	208	42	nt	not	PART
ajfa-11077	208	43	dollar	dollar	NOUN
ajfa-11077	208	44	.	.	PUNCT
ajfa-11077	209	1	indonesian	indonesian	ADJ
ajfa-11077	209	2	rupiah	rupiah	PROPN
ajfa-11077	209	3	has	have	VERB
ajfa-11077	209	4	a	a	DET
ajfa-11077	209	5	maximum	maximum	ADJ
ajfa-11077	209	6	appreciation	appreciation	NOUN
ajfa-11077	209	7	(	(	PUNCT
ajfa-11077	209	8	20.70	20.70	NUM
ajfa-11077	209	9	%	%	NOUN
ajfa-11077	209	10	)	)	PUNCT
ajfa-11077	209	11	and	and	CCONJ
ajfa-11077	209	12	minimum	minimum	ADJ
ajfa-11077	209	13	depreciation	depreciation	NOUN
ajfa-11077	209	14	(	(	PUNCT
ajfa-11077	209	15	13.56	13.56	NUM
ajfa-11077	209	16	%	%	NOUN
ajfa-11077	209	17	)	)	PUNCT
ajfa-11077	209	18	against	against	ADP
ajfa-11077	209	19	to	to	PART
ajfa-11077	209	20	nt	not	PART
ajfa-11077	209	21	dollar	dollar	NOUN
ajfa-11077	209	22	.	.	PUNCT
ajfa-11077	210	1	moreover	moreover	ADV
ajfa-11077	210	2	,	,	PUNCT
ajfa-11077	210	3	the	the	DET
ajfa-11077	210	4	coefficient	coefficient	NOUN
ajfa-11077	210	5	of	of	ADP
ajfa-11077	210	6	variation	variation	NOUN
ajfa-11077	210	7	is	be	AUX
ajfa-11077	210	8	also	also	ADV
ajfa-11077	210	9	reported	report	VERB
ajfa-11077	210	10	in	in	ADP
ajfa-11077	210	11	table	table	NOUN
ajfa-11077	210	12	2.the	2.the	DET
ajfa-11077	210	13	standard	standard	ADJ
ajfa-11077	210	14	deviation	deviation	NOUN
ajfa-11077	210	15	of	of	ADP
ajfa-11077	210	16	data	datum	NOUN
ajfa-11077	210	17	describes	describe	VERB
ajfa-11077	210	18	the	the	DET
ajfa-11077	210	19	dispersion	dispersion	NOUN
ajfa-11077	210	20	of	of	ADP
ajfa-11077	210	21	the	the	DET
ajfa-11077	210	22	data	datum	NOUN
ajfa-11077	210	23	away	away	ADV
ajfa-11077	210	24	from	from	ADP
ajfa-11077	210	25	the	the	DET
ajfa-11077	210	26	mean	mean	NOUN
ajfa-11077	210	27	.	.	PUNCT
ajfa-11077	211	1	in	in	ADP
ajfa-11077	211	2	contrast	contrast	NOUN
ajfa-11077	211	3	,	,	PUNCT
ajfa-11077	211	4	the	the	DET
ajfa-11077	211	5	coefficient	coefficient	NOUN
ajfa-11077	211	6	of	of	ADP
ajfa-11077	211	7	variation	variation	NOUN
ajfa-11077	211	8	is	be	AUX
ajfa-11077	211	9	the	the	DET
ajfa-11077	211	10	multiple	multiple	NOUN
ajfa-11077	211	11	of	of	ADP
ajfa-11077	211	12	the	the	DET
ajfa-11077	211	13	standard	standard	ADJ
ajfa-11077	211	14	deviation	deviation	NOUN
ajfa-11077	211	15	to	to	ADP
ajfa-11077	211	16	the	the	DET
ajfa-11077	211	17	mean	mean	ADJ
ajfa-11077	211	18	,	,	PUNCT
ajfa-11077	211	19	i.e.	i.e.	X
ajfa-11077	211	20	μ	μ	NUM
ajfa-11077	211	21	σ≡cv	σ≡cv	NOUN
ajfa-11077	211	22	.	.	PUNCT
ajfa-11077	212	1	for	for	ADP
ajfa-11077	212	2	comparison	comparison	NOUN
ajfa-11077	212	3	between	between	ADP
ajfa-11077	212	4	data	datum	NOUN
ajfa-11077	212	5	sets	set	NOUN
ajfa-11077	212	6	with	with	ADP
ajfa-11077	212	7	different	different	ADJ
ajfa-11077	212	8	units	unit	NOUN
ajfa-11077	212	9	or	or	CCONJ
ajfa-11077	212	10	widely	widely	ADV
ajfa-11077	212	11	different	different	ADJ
ajfa-11077	212	12	means	mean	NOUN
ajfa-11077	212	13	,	,	PUNCT
ajfa-11077	212	14	this	this	DET
ajfa-11077	212	15	paper	paper	NOUN
ajfa-11077	212	16	uses	use	VERB
ajfa-11077	212	17	the	the	DET
ajfa-11077	212	18	coefficient	coefficient	NOUN
ajfa-11077	212	19	of	of	ADP
ajfa-11077	212	20	variation	variation	NOUN
ajfa-11077	212	21	instead	instead	ADV
ajfa-11077	212	22	of	of	ADP
ajfa-11077	212	23	the	the	DET
ajfa-11077	212	24	standard	standard	ADJ
ajfa-11077	212	25	deviation	deviation	NOUN
ajfa-11077	212	26	.	.	PUNCT
ajfa-11077	213	1	scheel	scheel	PROPN
ajfa-11077	213	2	(	(	PUNCT
ajfa-11077	213	3	1978	1978	NUM
ajfa-11077	213	4	)	)	PUNCT
ajfa-11077	213	5	proposed	propose	VERB
ajfa-11077	213	6	that	that	SCONJ
ajfa-11077	213	7	the	the	DET
ajfa-11077	213	8	coefficient	coefficient	NOUN
ajfa-11077	213	9	of	of	ADP
ajfa-11077	213	10	variation	variation	NOUN
ajfa-11077	213	11	can	can	AUX
ajfa-11077	213	12	also	also	ADV
ajfa-11077	213	13	be	be	AUX
ajfa-11077	213	14	a	a	DET
ajfa-11077	213	15	measure	measure	NOUN
ajfa-11077	213	16	of	of	ADP
ajfa-11077	213	17	relative	relative	ADJ
ajfa-11077	213	18	risk	risk	NOUN
ajfa-11077	213	19	in	in	ADP
ajfa-11077	213	20	the	the	DET
ajfa-11077	213	21	elementary	elementary	ADJ
ajfa-11077	213	22	risk	risk	NOUN
ajfa-11077	213	23	and	and	CCONJ
ajfa-11077	213	24	insurance	insurance	NOUN
ajfa-11077	213	25	.	.	PUNCT
ajfa-11077	214	1	an	an	DET
ajfa-11077	214	2	asset	asset	NOUN
ajfa-11077	214	3	with	with	ADP
ajfa-11077	214	4	lower	low	ADJ
ajfa-11077	214	5	value	value	NOUN
ajfa-11077	214	6	of	of	ADP
ajfa-11077	214	7	coefficient	coefficient	NOUN
ajfa-11077	214	8	of	of	ADP
ajfa-11077	214	9	variation	variation	NOUN
ajfa-11077	214	10	means	mean	VERB
ajfa-11077	214	11	either	either	CCONJ
ajfa-11077	214	12	a	a	DET
ajfa-11077	214	13	lower	low	ADJ
ajfa-11077	214	14	-	-	PUNCT
ajfa-11077	214	15	risk	risk	NOUN
ajfa-11077	214	16	asset	asset	NOUN
ajfa-11077	214	17	among	among	ADP
ajfa-11077	214	18	that	that	PRON
ajfa-11077	214	19	of	of	ADP
ajfa-11077	214	20	the	the	DET
ajfa-11077	214	21	same	same	ADJ
ajfa-11077	214	22	return	return	NOUN
ajfa-11077	214	23	or	or	CCONJ
ajfa-11077	214	24	a	a	DET
ajfa-11077	214	25	higher	high	ADJ
ajfa-11077	214	26	-	-	PUNCT
ajfa-11077	214	27	return	return	NOUN
ajfa-11077	214	28	asset	asset	NOUN
ajfa-11077	214	29	among	among	ADP
ajfa-11077	214	30	that	that	PRON
ajfa-11077	214	31	of	of	ADP
ajfa-11077	214	32	same	same	ADJ
ajfa-11077	214	33	level	level	NOUN
ajfa-11077	214	34	of	of	ADP
ajfa-11077	214	35	risk	risk	NOUN
ajfa-11077	214	36	.	.	PUNCT
ajfa-11077	215	1	as	as	SCONJ
ajfa-11077	215	2	shown	show	VERB
ajfa-11077	215	3	in	in	ADP
ajfa-11077	215	4	table	table	NOUN
ajfa-11077	215	5	2	2	NUM
ajfa-11077	215	6	,	,	PUNCT
ajfa-11077	215	7	china	china	PROPN
ajfa-11077	215	8	yuan	yuan	PROPN
ajfa-11077	215	9	(	(	PUNCT
ajfa-11077	215	10	cny	cny	PROPN
ajfa-11077	215	11	)	)	PUNCT
ajfa-11077	215	12	and	and	CCONJ
ajfa-11077	215	13	singapore	singapore	PROPN
ajfa-11077	215	14	dollar	dollar	PROPN
ajfa-11077	215	15	(	(	PUNCT
ajfa-11077	215	16	sgd	sgd	PROPN
ajfa-11077	215	17	)	)	PUNCT
ajfa-11077	215	18	have	have	VERB
ajfa-11077	215	19	lower	low	ADJ
ajfa-11077	215	20	coefficient	coefficient	NOUN
ajfa-11077	215	21	of	of	ADP
ajfa-11077	215	22	variation	variation	NOUN
ajfa-11077	215	23	,	,	PUNCT
ajfa-11077	215	24	6.8804and	6.8804and	NUM
ajfa-11077	215	25	8.3299	8.3299	NUM
ajfa-11077	215	26	,	,	PUNCT
ajfa-11077	215	27	respectively	respectively	ADV
ajfa-11077	215	28	,	,	PUNCT
ajfa-11077	215	29	and	and	CCONJ
ajfa-11077	215	30	great	great	ADJ
ajfa-11077	215	31	british	british	ADJ
ajfa-11077	215	32	pound	pound	NOUN
ajfa-11077	215	33	and	and	CCONJ
ajfa-11077	215	34	korean	korean	ADJ
ajfa-11077	215	35	won	win	VERB
ajfa-11077	215	36	have	have	VERB
ajfa-11077	215	37	higher	high	ADJ
ajfa-11077	215	38	coefficient	coefficient	NOUN
ajfa-11077	215	39	of	of	ADP
ajfa-11077	215	40	variation	variation	NOUN
ajfa-11077	215	41	.	.	PUNCT
ajfa-11077	216	1	both	both	DET
ajfa-11077	216	2	great	great	ADJ
ajfa-11077	216	3	british	british	ADJ
ajfa-11077	216	4	pound	pound	NOUN
ajfa-11077	216	5	and	and	CCONJ
ajfa-11077	216	6	korean	korean	ADJ
ajfa-11077	216	7	won	won	NOUN
ajfa-11077	216	8	are	be	AUX
ajfa-11077	216	9	either	either	CCONJ
ajfa-11077	216	10	high	high	ADJ
ajfa-11077	216	11	-	-	PUNCT
ajfa-11077	216	12	risk	risk	NOUN
ajfa-11077	216	13	or	or	CCONJ
ajfa-11077	216	14	low	low	ADJ
ajfa-11077	216	15	-	-	PUNCT
ajfa-11077	216	16	return	return	NOUN
ajfa-11077	216	17	.	.	PUNCT
ajfa-11077	217	1	5	5	X
ajfa-11077	217	2	.	.	X
ajfa-11077	217	3	empirical	empirical	ADJ
ajfa-11077	217	4	results	result	NOUN
ajfa-11077	217	5	and	and	CCONJ
ajfa-11077	217	6	analysis	analysis	NOUN
ajfa-11077	217	7	first	first	ADV
ajfa-11077	217	8	,	,	PUNCT
ajfa-11077	217	9	we	we	PRON
ajfa-11077	217	10	have	have	VERB
ajfa-11077	217	11	to	to	PART
ajfa-11077	217	12	test	test	VERB
ajfa-11077	217	13	whether	whether	SCONJ
ajfa-11077	217	14	the	the	DET
ajfa-11077	217	15	series	series	NOUN
ajfa-11077	217	16	of	of	ADP
ajfa-11077	217	17	performance	performance	NOUN
ajfa-11077	217	18	is	be	AUX
ajfa-11077	217	19	stationary	stationary	ADJ
ajfa-11077	217	20	or	or	CCONJ
ajfa-11077	217	21	not	not	PART
ajfa-11077	217	22	.	.	PUNCT
ajfa-11077	218	1	that	that	PRON
ajfa-11077	218	2	is	is	ADV
ajfa-11077	218	3	,	,	PUNCT
ajfa-11077	218	4	we	we	PRON
ajfa-11077	218	5	should	should	AUX
ajfa-11077	218	6	test	test	VERB
ajfa-11077	218	7	the	the	DET
ajfa-11077	218	8	null	null	ADJ
ajfa-11077	218	9	hypothesis	hypothesis	NOUN
ajfa-11077	218	10	that	that	PRON
ajfa-11077	218	11	it	it	PRON
ajfa-11077	218	12	has	have	VERB
ajfa-11077	218	13	a	a	DET
ajfa-11077	218	14	unit	unit	NOUN
ajfa-11077	218	15	root	root	NOUN
ajfa-11077	218	16	.	.	PUNCT
ajfa-11077	219	1	in	in	ADP
ajfa-11077	219	2	tsay	tsay	PROPN
ajfa-11077	219	3	(	(	PUNCT
ajfa-11077	219	4	2005	2005	NUM
ajfa-11077	219	5	)	)	PUNCT
ajfa-11077	219	6	,	,	PUNCT
ajfa-11077	219	7	he	he	PRON
ajfa-11077	219	8	indicated	indicate	VERB
ajfa-11077	219	9	that	that	SCONJ
ajfa-11077	219	10	the	the	DET
ajfa-11077	219	11	fundamental	fundamental	ADJ
ajfa-11077	219	12	time	time	NOUN
ajfa-11077	219	13	series	series	PROPN
ajfa-11077	219	14	analysis	analysis	NOUN
ajfa-11077	219	15	is	be	AUX
ajfa-11077	219	16	stationarity	stationarity	NOUN
ajfa-11077	219	17	.	.	PUNCT
ajfa-11077	220	1	a	a	DET
ajfa-11077	220	2	time	time	NOUN
ajfa-11077	220	3	series	series	NOUN
ajfa-11077	220	4	ty	ty	NOUN
ajfa-11077	220	5	is	be	AUX
ajfa-11077	220	6	said	say	VERB
ajfa-11077	220	7	to	to	PART
ajfa-11077	220	8	be	be	AUX
ajfa-11077	220	9	strictly	strictly	ADV
ajfa-11077	220	10	asian	asian	ADJ
ajfa-11077	220	11	journal	journal	NOUN
ajfa-11077	220	12	of	of	ADP
ajfa-11077	220	13	finance	finance	PROPN
ajfa-11077	220	14	&	&	CCONJ
ajfa-11077	220	15	accounting	accounting	PROPN
ajfa-11077	220	16	issn	issn	PROPN
ajfa-11077	220	17	1946	1946	NUM
ajfa-11077	220	18	-	-	PUNCT
ajfa-11077	220	19	052x	052x	PROPN
ajfa-11077	220	20	2017	2017	NUM
ajfa-11077	220	21	,	,	PUNCT
ajfa-11077	220	22	vol	vol	NOUN
ajfa-11077	220	23	.	.	NOUN
ajfa-11077	221	1	9	9	NUM
ajfa-11077	221	2	,	,	PUNCT
ajfa-11077	221	3	no	no	INTJ
ajfa-11077	221	4	.	.	NOUN
ajfa-11077	221	5	1	1	NUM
ajfa-11077	221	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	221	7	287	287	NUM
ajfa-11077	221	8	stationary	stationary	NOUN
ajfa-11077	221	9	if	if	SCONJ
ajfa-11077	221	10	the	the	DET
ajfa-11077	221	11	joint	joint	ADJ
ajfa-11077	221	12	distribution	distribution	NOUN
ajfa-11077	221	13	of	of	ADP
ajfa-11077	221	14	(	(	PUNCT
ajfa-11077	221	15	)	)	PUNCT
ajfa-11077	221	16	′	′	NUM
ajfa-11077	221	17	kttt	kttt	PROPN
ajfa-11077	221	18	yyy	yyy	PROPN
ajfa-11077	221	19	,	,	PUNCT
ajfa-11077	221	20	,	,	PUNCT
ajfa-11077	221	21	,	,	PUNCT
ajfa-11077	221	22			NOUN
ajfa-11077	221	23	21	21	NUM
ajfa-11077	221	24	is	be	AUX
ajfa-11077	221	25	identical	identical	ADJ
ajfa-11077	221	26	to	to	ADP
ajfa-11077	221	27	that	that	PRON
ajfa-11077	221	28	of	of	ADP
ajfa-11077	221	29	(	(	PUNCT
ajfa-11077	221	30	)	)	PUNCT
ajfa-11077	221	31	′+++	′+++	PRON
ajfa-11077	221	32	ststst	ststst	VERB
ajfa-11077	221	33	k	k	PROPN
ajfa-11077	221	34	yyy	yyy	PROPN
ajfa-11077	221	35	,	,	PUNCT
ajfa-11077	221	36	,	,	PUNCT
ajfa-11077	221	37	,	,	PUNCT
ajfa-11077	222	1			NOUN
ajfa-11077	222	2	21	21	NUM
ajfa-11077	222	3	for	for	ADP
ajfa-11077	222	4	all	all	DET
ajfa-11077	222	5	k	k	NOUN
ajfa-11077	222	6	,	,	PUNCT
ajfa-11077	222	7	where	where	SCONJ
ajfa-11077	222	8	s	s	NOUN
ajfa-11077	222	9	is	be	AUX
ajfa-11077	222	10	an	an	DET
ajfa-11077	222	11	arbitrary	arbitrary	ADJ
ajfa-11077	222	12	positive	positive	ADJ
ajfa-11077	222	13	integer	integer	NOUN
ajfa-11077	222	14	.	.	PUNCT
ajfa-11077	223	1	in	in	ADP
ajfa-11077	223	2	other	other	ADJ
ajfa-11077	223	3	words	word	NOUN
ajfa-11077	223	4	,	,	PUNCT
ajfa-11077	223	5	strict	strict	ADJ
ajfa-11077	223	6	stationarity	stationarity	NOUN
ajfa-11077	223	7	requires	require	VERB
ajfa-11077	223	8	that	that	SCONJ
ajfa-11077	223	9	the	the	DET
ajfa-11077	223	10	joint	joint	ADJ
ajfa-11077	223	11	distribution	distribution	NOUN
ajfa-11077	223	12	of	of	ADP
ajfa-11077	223	13	(	(	PUNCT
ajfa-11077	223	14	)	)	PUNCT
ajfa-11077	223	15	′	′	NUM
ajfa-11077	223	16	kttt	kttt	PROPN
ajfa-11077	223	17	yyy	yyy	PROPN
ajfa-11077	223	18	,	,	PUNCT
ajfa-11077	223	19	,	,	PUNCT
ajfa-11077	223	20	,	,	PUNCT
ajfa-11077	223	21			NOUN
ajfa-11077	223	22	21	21	NUM
ajfa-11077	223	23	is	be	AUX
ajfa-11077	223	24	invariant	invariant	ADJ
ajfa-11077	223	25	under	under	ADP
ajfa-11077	223	26	time	time	NOUN
ajfa-11077	223	27	shift	shift	NOUN
ajfa-11077	223	28	.	.	PUNCT
ajfa-11077	224	1	and	and	CCONJ
ajfa-11077	224	2	a	a	DET
ajfa-11077	224	3	time	time	NOUN
ajfa-11077	224	4	series	series	NOUN
ajfa-11077	224	5	ty	ty	PRON
ajfa-11077	224	6	is	be	AUX
ajfa-11077	224	7	weakly	weakly	ADV
ajfa-11077	224	8	stationary	stationary	ADJ
ajfa-11077	224	9	if	if	SCONJ
ajfa-11077	224	10	both	both	PRON
ajfa-11077	224	11	the	the	DET
ajfa-11077	224	12	mean	mean	NOUN
ajfa-11077	224	13	of	of	ADP
ajfa-11077	224	14	ty	ty	NUM
ajfa-11077	224	15	and	and	CCONJ
ajfa-11077	224	16	(	(	PUNCT
ajfa-11077	224	17	)	)	PUNCT
ajfa-11077	224	18	stt	stt	PROPN
ajfa-11077	224	19	yycov	yycov	NOUN
ajfa-11077	224	20	−	−	PROPN
ajfa-11077	224	21	,	,	PUNCT
ajfa-11077	224	22	are	be	AUX
ajfa-11077	224	23	time	time	NOUN
ajfa-11077	224	24	-	-	PUNCT
ajfa-11077	224	25	invariant	invariant	ADJ
ajfa-11077	224	26	,	,	PUNCT
ajfa-11077	224	27	where	where	SCONJ
ajfa-11077	224	28	sis	sis	NOUN
ajfa-11077	224	29	an	an	DET
ajfa-11077	224	30	arbitrary	arbitrary	ADJ
ajfa-11077	224	31	integer	integer	NOUN
ajfa-11077	224	32	.	.	PUNCT
ajfa-11077	225	1	in	in	ADP
ajfa-11077	225	2	the	the	DET
ajfa-11077	225	3	table	table	NOUN
ajfa-11077	225	4	3	3	NUM
ajfa-11077	225	5	,	,	PUNCT
ajfa-11077	225	6	we	we	PRON
ajfa-11077	225	7	show	show	VERB
ajfa-11077	225	8	the	the	DET
ajfa-11077	225	9	augmented	augment	VERB
ajfa-11077	225	10	dicky	dicky	ADJ
ajfa-11077	225	11	-	-	PUNCT
ajfa-11077	225	12	fuller	full	ADJ
ajfa-11077	225	13	test	test	NOUN
ajfa-11077	225	14	results	result	NOUN
ajfa-11077	225	15	.	.	PUNCT
ajfa-11077	226	1	as	as	SCONJ
ajfa-11077	226	2	shown	show	VERB
ajfa-11077	226	3	in	in	ADP
ajfa-11077	226	4	table	table	NOUN
ajfa-11077	226	5	3	3	NUM
ajfa-11077	226	6	,	,	PUNCT
ajfa-11077	226	7	we	we	PRON
ajfa-11077	226	8	can	can	AUX
ajfa-11077	226	9	find	find	VERB
ajfa-11077	226	10	that	that	SCONJ
ajfa-11077	226	11	almost	almost	ADV
ajfa-11077	226	12	all	all	DET
ajfa-11077	226	13	the	the	DET
ajfa-11077	226	14	roa	roa	PROPN
ajfa-11077	226	15	/	/	SYM
ajfa-11077	226	16	roe	roe	PROPN
ajfa-11077	226	17	series	series	PROPN
ajfa-11077	226	18	are	be	AUX
ajfa-11077	226	19	non	non	ADJ
ajfa-11077	226	20	-	-	ADJ
ajfa-11077	226	21	stationary	stationary	ADJ
ajfa-11077	226	22	except	except	SCONJ
ajfa-11077	226	23	the	the	DET
ajfa-11077	226	24	ambassador	ambassador	NOUN
ajfa-11077	226	25	’s	’s	PART
ajfa-11077	226	26	roa	roa	PROPN
ajfa-11077	226	27	/	/	SYM
ajfa-11077	226	28	roe	roe	PROPN
ajfa-11077	226	29	.	.	PUNCT
ajfa-11077	227	1	on	on	ADP
ajfa-11077	227	2	the	the	DET
ajfa-11077	227	3	other	other	ADJ
ajfa-11077	227	4	hand	hand	NOUN
ajfa-11077	227	5	,	,	PUNCT
ajfa-11077	227	6	according	accord	VERB
ajfa-11077	227	7	to	to	ADP
ajfa-11077	227	8	hurvich	hurvich	PROPN
ajfa-11077	227	9	and	and	CCONJ
ajfa-11077	227	10	tsai	tsai	PROPN
ajfa-11077	227	11	(	(	PUNCT
ajfa-11077	227	12	1989	1989	NUM
ajfa-11077	227	13	)	)	PUNCT
ajfa-11077	227	14	,	,	PUNCT
ajfa-11077	227	15	there	there	PRON
ajfa-11077	227	16	will	will	AUX
ajfa-11077	227	17	be	be	AUX
ajfa-11077	227	18	biased	biased	ADJ
ajfa-11077	227	19	estimates	estimate	NOUN
ajfa-11077	227	20	resulting	result	VERB
ajfa-11077	227	21	from	from	ADP
ajfa-11077	227	22	a	a	DET
ajfa-11077	227	23	non	non	ADJ
ajfa-11077	227	24	-	-	ADJ
ajfa-11077	227	25	stationary	stationary	ADJ
ajfa-11077	227	26	series	series	NOUN
ajfa-11077	227	27	.	.	PUNCT
ajfa-11077	228	1	such	such	ADJ
ajfa-11077	228	2	that	that	SCONJ
ajfa-11077	228	3	,	,	PUNCT
ajfa-11077	228	4	applying	apply	VERB
ajfa-11077	228	5	wei	wei	PROPN
ajfa-11077	228	6	(	(	PUNCT
ajfa-11077	228	7	2006	2006	NUM
ajfa-11077	228	8	)	)	PUNCT
ajfa-11077	228	9	,	,	PUNCT
ajfa-11077	228	10	we	we	PRON
ajfa-11077	228	11	take	take	VERB
ajfa-11077	228	12	the	the	DET
ajfa-11077	228	13	first	first	ADJ
ajfa-11077	228	14	-	-	PUNCT
ajfa-11077	228	15	ordered	order	VERB
ajfa-11077	228	16	difference	difference	NOUN
ajfa-11077	228	17	on	on	ADP
ajfa-11077	228	18	the	the	DET
ajfa-11077	228	19	series	series	NOUN
ajfa-11077	228	20	,	,	PUNCT
ajfa-11077	228	21	i.e.	i.e.	X
ajfa-11077	228	22	,	,	PUNCT
ajfa-11077	228	23	11	11	NUM
ajfa-11077	228	24	−−≡	−−≡	PROPN
ajfa-11077	228	25	ttt	ttt	PROPN
ajfa-11077	228	26	roaroaroad	roaroaroad	NOUN
ajfa-11077	228	27	and	and	CCONJ
ajfa-11077	228	28	11	11	NUM
ajfa-11077	228	29	−−≡	−−≡	PROPN
ajfa-11077	228	30	ttt	ttt	PROPN
ajfa-11077	228	31	roeroeroed	roeroeroe	VERB
ajfa-11077	228	32	.	.	PUNCT
ajfa-11077	229	1	(	(	PUNCT
ajfa-11077	229	2	14	14	NUM
ajfa-11077	229	3	)	)	PUNCT
ajfa-11077	229	4	and	and	CCONJ
ajfa-11077	229	5	then	then	ADV
ajfa-11077	229	6	,	,	PUNCT
ajfa-11077	229	7	we	we	PRON
ajfa-11077	229	8	test	test	VERB
ajfa-11077	229	9	the	the	DET
ajfa-11077	229	10	unit	unit	NOUN
ajfa-11077	229	11	-	-	PUNCT
ajfa-11077	229	12	root	root	NOUN
ajfa-11077	229	13	-	-	PUNCT
ajfa-11077	229	14	test	test	NOUN
ajfa-11077	229	15	again	again	ADV
ajfa-11077	229	16	to	to	PART
ajfa-11077	229	17	verify	verify	VERB
ajfa-11077	229	18	its	its	PRON
ajfa-11077	229	19	stationarity	stationarity	NOUN
ajfa-11077	229	20	.	.	PUNCT
ajfa-11077	230	1	the	the	DET
ajfa-11077	230	2	augmented	augment	VERB
ajfa-11077	230	3	dicky	dicky	ADJ
ajfa-11077	230	4	-	-	PUNCT
ajfa-11077	230	5	fuller	full	ADJ
ajfa-11077	230	6	test	test	NOUN
ajfa-11077	230	7	results	result	NOUN
ajfa-11077	230	8	are	be	AUX
ajfa-11077	230	9	also	also	ADV
ajfa-11077	230	10	shown	show	VERB
ajfa-11077	230	11	in	in	ADP
ajfa-11077	230	12	table	table	NOUN
ajfa-11077	230	13	3	3	NUM
ajfa-11077	230	14	.	.	PUNCT
ajfa-11077	231	1	after	after	ADP
ajfa-11077	231	2	differencing	difference	VERB
ajfa-11077	231	3	the	the	DET
ajfa-11077	231	4	series	series	NOUN
ajfa-11077	231	5	,	,	PUNCT
ajfa-11077	231	6	all	all	PRON
ajfa-11077	231	7	of	of	ADP
ajfa-11077	231	8	them	they	PRON
ajfa-11077	231	9	are	be	AUX
ajfa-11077	231	10	stationary	stationary	ADJ
ajfa-11077	231	11	.	.	PUNCT
ajfa-11077	232	1	asian	asian	ADJ
ajfa-11077	232	2	journal	journal	PROPN
ajfa-11077	232	3	of	of	ADP
ajfa-11077	232	4	finance	finance	PROPN
ajfa-11077	232	5	&	&	CCONJ
ajfa-11077	232	6	accounting	accounting	PROPN
ajfa-11077	232	7	issn	issn	PROPN
ajfa-11077	232	8	1946	1946	NUM
ajfa-11077	232	9	-	-	PUNCT
ajfa-11077	232	10	052x	052x	PROPN
ajfa-11077	232	11	2017	2017	NUM
ajfa-11077	232	12	,	,	PUNCT
ajfa-11077	232	13	vol	vol	NOUN
ajfa-11077	232	14	.	.	NOUN
ajfa-11077	232	15	9	9	NUM
ajfa-11077	232	16	,	,	PUNCT
ajfa-11077	232	17	no	no	INTJ
ajfa-11077	232	18	.	.	NOUN
ajfa-11077	232	19	1	1	NUM
ajfa-11077	232	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	232	21	288	288	NUM
ajfa-11077	232	22	table	table	NOUN
ajfa-11077	232	23	3	3	NUM
ajfa-11077	232	24	.	.	PUNCT
ajfa-11077	233	1	the	the	DET
ajfa-11077	233	2	stationarity	stationarity	NOUN
ajfa-11077	233	3	test	test	NOUN
ajfa-11077	233	4	results	result	NOUN
ajfa-11077	233	5	of	of	ADP
ajfa-11077	233	6	company	company	NOUN
ajfa-11077	233	7	’s	’s	PART
ajfa-11077	233	8	performances	performance	NOUN
ajfa-11077	233	9	sec	sec	PROPN
ajfa-11077	233	10	series	series	PROPN
ajfa-11077	233	11	obs	obs	PROPN
ajfa-11077	233	12	.	.	PUNCT
ajfa-11077	234	1	adf	adf	PROPN
ajfa-11077	234	2	test	test	NOUN
ajfa-11077	234	3	statistic	statistic	NOUN
ajfa-11077	234	4	p	p	NOUN
ajfa-11077	234	5	-	-	PUNCT
ajfa-11077	234	6	value	value	NOUN
ajfa-11077	234	7	stationarity	stationarity	NOUN
ajfa-11077	234	8	2702	2702	NUM
ajfa-11077	234	9	roa	roa	PROPN
ajfa-11077	234	10	56	56	NUM
ajfa-11077	234	11	-1.539	-1.539	NOUN
ajfa-11077	234	12	0.5140	0.5140	NUM
ajfa-11077	234	13	non	non	ADJ
ajfa-11077	234	14	-	-	ADJ
ajfa-11077	234	15	stationary	stationary	ADJ
ajfa-11077	234	16	△	△	PROPN
ajfa-11077	234	17	roa	roa	NOUN
ajfa-11077	234	18	61	61	NUM
ajfa-11077	234	19	-14.607	-14.607	PROPN
ajfa-11077	234	20	0.0000	0.0000	NUM
ajfa-11077	234	21	stationary	stationary	ADJ
ajfa-11077	234	22	2704	2704	NUM
ajfa-11077	234	23	roa	roa	NOUN
ajfa-11077	234	24	56	56	NUM
ajfa-11077	234	25	-2.884	-2.884	SYM
ajfa-11077	234	26	0.0472	0.0472	NUM
ajfa-11077	234	27	stationary	stationary	ADJ
ajfa-11077	234	28	2705	2705	NUM
ajfa-11077	234	29	roa	roa	NOUN
ajfa-11077	234	30	56	56	NUM
ajfa-11077	234	31	-2.158	-2.158	SYM
ajfa-11077	234	32	0.2217	0.2217	NUM
ajfa-11077	234	33	non	non	ADJ
ajfa-11077	234	34	-	-	ADJ
ajfa-11077	234	35	stationary	stationary	ADJ
ajfa-11077	234	36	△	△	PROPN
ajfa-11077	234	37	roa	roa	NOUN
ajfa-11077	234	38	61	61	NUM
ajfa-11077	234	39	-12.592	-12.592	NOUN
ajfa-11077	234	40	0.0000	0.0000	NUM
ajfa-11077	234	41	stationary	stationary	ADJ
ajfa-11077	234	42	2706	2706	NUM
ajfa-11077	234	43	roa	roa	NOUN
ajfa-11077	234	44	56	56	NUM
ajfa-11077	234	45	-2.312	-2.312	PROPN
ajfa-11077	234	46	0.1683	0.1683	NUM
ajfa-11077	234	47	non	non	ADJ
ajfa-11077	234	48	-	-	ADJ
ajfa-11077	234	49	stationary	stationary	ADJ
ajfa-11077	234	50	△	△	PROPN
ajfa-11077	234	51	roa	roa	NOUN
ajfa-11077	234	52	61	61	NUM
ajfa-11077	234	53	-17.520	-17.520	SYM
ajfa-11077	234	54	0.0000	0.0000	NUM
ajfa-11077	234	55	stationary	stationary	ADJ
ajfa-11077	234	56	2707	2707	NUM
ajfa-11077	234	57	roa	roa	NOUN
ajfa-11077	234	58	56	56	NUM
ajfa-11077	234	59	-2.640	-2.640	NOUN
ajfa-11077	234	60	0.0849	0.0849	NUM
ajfa-11077	234	61	non	non	ADJ
ajfa-11077	234	62	-	-	ADJ
ajfa-11077	234	63	stationary	stationary	ADJ
ajfa-11077	234	64	△	△	PROPN
ajfa-11077	234	65	roa	roa	NOUN
ajfa-11077	234	66	61	61	NUM
ajfa-11077	234	67	-12.541	-12.541	NUM
ajfa-11077	234	68	0.0000	0.0000	NUM
ajfa-11077	234	69	stationary	stationary	ADJ
ajfa-11077	234	70	2712	2712	NUM
ajfa-11077	234	71	roa	roa	NOUN
ajfa-11077	234	72	9	9	NUM
ajfa-11077	234	73	-3.466	-3.466	NOUN
ajfa-11077	234	74	0.0089	0.0089	NUM
ajfa-11077	234	75	stationary	stationary	ADJ
ajfa-11077	234	76	2718	2718	NUM
ajfa-11077	234	77	roa	roa	NOUN
ajfa-11077	234	78	18	18	NUM
ajfa-11077	234	79	-1.651	-1.651	NUM
ajfa-11077	234	80	0.4567	0.4567	NUM
ajfa-11077	234	81	non	non	ADJ
ajfa-11077	234	82	-	-	ADJ
ajfa-11077	234	83	stationary	stationary	ADJ
ajfa-11077	234	84	△	△	PROPN
ajfa-11077	234	85	roa	roa	NOUN
ajfa-11077	234	86	23	23	NUM
ajfa-11077	234	87	-9.001	-9.001	NOUN
ajfa-11077	234	88	0.0000	0.0000	NUM
ajfa-11077	234	89	stationary	stationary	ADJ
ajfa-11077	234	90	2722	2722	NUM
ajfa-11077	234	91	roa	roa	NOUN
ajfa-11077	234	92	14	14	NUM
ajfa-11077	234	93	-1.810	-1.810	NOUN
ajfa-11077	234	94	0.3755	0.3755	NUM
ajfa-11077	234	95	non	non	ADJ
ajfa-11077	234	96	-	-	ADJ
ajfa-11077	234	97	stationary	stationary	ADJ
ajfa-11077	234	98	△	△	PROPN
ajfa-11077	234	99	roa	roa	NOUN
ajfa-11077	234	100	19	19	NUM
ajfa-11077	234	101	-5.904	-5.904	NOUN
ajfa-11077	234	102	0.0000	0.0000	NUM
ajfa-11077	234	103	stationary	stationary	ADJ
ajfa-11077	234	104	2724	2724	NUM
ajfa-11077	234	105	roa	roa	NOUN
ajfa-11077	234	106	14	14	NUM
ajfa-11077	234	107	0.025	0.025	NUM
ajfa-11077	234	108	0.9606	0.9606	NUM
ajfa-11077	234	109	non	non	ADJ
ajfa-11077	234	110	-	-	ADJ
ajfa-11077	234	111	stationary	stationary	ADJ
ajfa-11077	234	112	△	△	PROPN
ajfa-11077	234	113	roa	roa	NOUN
ajfa-11077	234	114	19	19	NUM
ajfa-11077	234	115	-5.816	-5.816	NUM
ajfa-11077	234	116	0.0000	0.0000	NUM
ajfa-11077	234	117	stationary	stationary	ADJ
ajfa-11077	234	118	5701	5701	NUM
ajfa-11077	234	119	roa	roa	NOUN
ajfa-11077	234	120	56	56	NUM
ajfa-11077	234	121	-1.476	-1.476	NOUN
ajfa-11077	234	122	0.5452	0.5452	NUM
ajfa-11077	234	123	non	non	ADJ
ajfa-11077	234	124	-	-	ADJ
ajfa-11077	234	125	stationary	stationary	ADJ
ajfa-11077	234	126	△	△	PROPN
ajfa-11077	234	127	roa	roa	NOUN
ajfa-11077	234	128	61	61	NUM
ajfa-11077	234	129	-11.789	-11.789	ADJ
ajfa-11077	234	130	0.0000	0.0000	NUM
ajfa-11077	234	131	stationary	stationary	ADJ
ajfa-11077	234	132	5703	5703	NUM
ajfa-11077	234	133	roa	roa	NOUN
ajfa-11077	234	134	56	56	NUM
ajfa-11077	234	135	-1.977	-1.977	NUM
ajfa-11077	234	136	0.2967	0.2967	NUM
ajfa-11077	234	137	non	non	ADJ
ajfa-11077	234	138	-	-	ADJ
ajfa-11077	234	139	stationary	stationary	ADJ
ajfa-11077	234	140	△	△	PROPN
ajfa-11077	234	141	roa	roa	NOUN
ajfa-11077	234	142	61	61	NUM
ajfa-11077	234	143	-10.758	-10.758	NUM
ajfa-11077	234	144	0.0000	0.0000	NUM
ajfa-11077	234	145	stationary	stationary	ADJ
ajfa-11077	234	146	5704	5704	NUM
ajfa-11077	234	147	roa	roa	NOUN
ajfa-11077	234	148	56	56	NUM
ajfa-11077	234	149	-1.421	-1.421	NOUN
ajfa-11077	234	150	0.5722	0.5722	NUM
ajfa-11077	234	151	non	non	ADJ
ajfa-11077	234	152	-	-	ADJ
ajfa-11077	234	153	stationary	stationary	ADJ
ajfa-11077	234	154	△	△	PROPN
ajfa-11077	234	155	roa	roa	NOUN
ajfa-11077	234	156	61	61	NUM
ajfa-11077	234	157	-17.149	-17.149	ADJ
ajfa-11077	234	158	0.0000	0.0000	NUM
ajfa-11077	234	159	stationary	stationary	ADJ
ajfa-11077	234	160	asian	asian	ADJ
ajfa-11077	234	161	journal	journal	NOUN
ajfa-11077	234	162	of	of	ADP
ajfa-11077	234	163	finance	finance	PROPN
ajfa-11077	234	164	&	&	CCONJ
ajfa-11077	234	165	accounting	accounting	PROPN
ajfa-11077	234	166	issn	issn	PROPN
ajfa-11077	234	167	1946	1946	NUM
ajfa-11077	234	168	-	-	PUNCT
ajfa-11077	234	169	052x	052x	PROPN
ajfa-11077	234	170	2017	2017	NUM
ajfa-11077	234	171	,	,	PUNCT
ajfa-11077	234	172	vol	vol	NOUN
ajfa-11077	234	173	.	.	NOUN
ajfa-11077	234	174	9	9	NUM
ajfa-11077	234	175	,	,	PUNCT
ajfa-11077	234	176	no	no	INTJ
ajfa-11077	234	177	.	.	NOUN
ajfa-11077	234	178	1	1	NUM
ajfa-11077	234	179	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	234	180	289	289	NUM
ajfa-11077	234	181	table	table	NOUN
ajfa-11077	234	182	3(b	3(b	NUM
ajfa-11077	234	183	)	)	PUNCT
ajfa-11077	234	184	.	.	PUNCT
ajfa-11077	235	1	the	the	DET
ajfa-11077	235	2	stationarity	stationarity	NOUN
ajfa-11077	235	3	test	test	NOUN
ajfa-11077	235	4	results	result	NOUN
ajfa-11077	235	5	of	of	ADP
ajfa-11077	235	6	company	company	NOUN
ajfa-11077	235	7	’s	’s	PART
ajfa-11077	235	8	roe	roe	PROPN
ajfa-11077	235	9	sec	sec	PROPN
ajfa-11077	235	10	series	series	PROPN
ajfa-11077	235	11	obs	obs	PROPN
ajfa-11077	235	12	.	.	PUNCT
ajfa-11077	236	1	adf	adf	PROPN
ajfa-11077	236	2	test	test	NOUN
ajfa-11077	236	3	statistic	statistic	NOUN
ajfa-11077	236	4	p	p	NOUN
ajfa-11077	236	5	-	-	PUNCT
ajfa-11077	236	6	value	value	NOUN
ajfa-11077	236	7	stationarity	stationarity	NOUN
ajfa-11077	236	8	2702	2702	NUM
ajfa-11077	236	9	roe	roe	PROPN
ajfa-11077	236	10	56	56	NUM
ajfa-11077	236	11	-1.604	-1.604	NUM
ajfa-11077	236	12	0.4814	0.4814	NUM
ajfa-11077	236	13	non	non	ADJ
ajfa-11077	236	14	-	-	ADJ
ajfa-11077	236	15	stationary	stationary	ADJ
ajfa-11077	236	16	△	△	PROPN
ajfa-11077	236	17	roe	roe	NOUN
ajfa-11077	236	18	61	61	NUM
ajfa-11077	236	19	-15.323	-15.323	NOUN
ajfa-11077	236	20	0.0000	0.0000	NUM
ajfa-11077	236	21	stationary	stationary	ADJ
ajfa-11077	236	22	2704	2704	NUM
ajfa-11077	236	23	roe	roe	NOUN
ajfa-11077	236	24	56	56	NUM
ajfa-11077	236	25	-2.993	-2.993	NUM
ajfa-11077	236	26	0.0356	0.0356	NUM
ajfa-11077	236	27	stationary	stationary	ADJ
ajfa-11077	236	28	2705	2705	NUM
ajfa-11077	236	29	roe	roe	NOUN
ajfa-11077	236	30	25	25	NUM
ajfa-11077	236	31	-2.061	-2.061	NOUN
ajfa-11077	236	32	0.2604	0.2604	NUM
ajfa-11077	236	33	non	non	ADJ
ajfa-11077	236	34	-	-	ADJ
ajfa-11077	236	35	stationary	stationary	ADJ
ajfa-11077	236	36	△	△	PROPN
ajfa-11077	236	37	roe	roe	NOUN
ajfa-11077	236	38	30	30	NUM
ajfa-11077	236	39	-8.296	-8.296	NOUN
ajfa-11077	236	40	0.0000	0.0000	NUM
ajfa-11077	236	41	stationary	stationary	ADJ
ajfa-11077	236	42	2706	2706	NUM
ajfa-11077	236	43	roe	roe	NOUN
ajfa-11077	236	44	25	25	NUM
ajfa-11077	236	45	-2.441	-2.441	SYM
ajfa-11077	236	46	0.1306	0.1306	NUM
ajfa-11077	236	47	non	non	ADJ
ajfa-11077	236	48	-	-	ADJ
ajfa-11077	236	49	stationary	stationary	ADJ
ajfa-11077	236	50	△	△	PROPN
ajfa-11077	236	51	roe	roe	NOUN
ajfa-11077	236	52	30	30	NUM
ajfa-11077	236	53	-13.890	-13.890	NUM
ajfa-11077	236	54	0.0000	0.0000	NUM
ajfa-11077	236	55	stationary	stationary	ADJ
ajfa-11077	236	56	2707	2707	NUM
ajfa-11077	236	57	roe	roe	NOUN
ajfa-11077	236	58	56	56	NUM
ajfa-11077	236	59	-1.808	-1.808	NOUN
ajfa-11077	236	60	0.3764	0.3764	NUM
ajfa-11077	236	61	non	non	ADJ
ajfa-11077	236	62	-	-	ADJ
ajfa-11077	236	63	stationary	stationary	ADJ
ajfa-11077	236	64	△	△	PROPN
ajfa-11077	236	65	roe	roe	NOUN
ajfa-11077	236	66	61	61	NUM
ajfa-11077	236	67	-11.738	-11.738	NOUN
ajfa-11077	236	68	0.0000	0.0000	NUM
ajfa-11077	236	69	stationary	stationary	ADJ
ajfa-11077	236	70	2712	2712	NUM
ajfa-11077	236	71	roe	roe	NOUN
ajfa-11077	236	72	9	9	NUM
ajfa-11077	236	73	-3.501	-3.501	NUM
ajfa-11077	236	74	0.0080	0.0080	NUM
ajfa-11077	236	75	stationary	stationary	ADJ
ajfa-11077	236	76	2718	2718	NUM
ajfa-11077	236	77	roe	roe	NOUN
ajfa-11077	236	78	18	18	NUM
ajfa-11077	236	79	-1.689	-1.689	SYM
ajfa-11077	236	80	0.4365	0.4365	NUM
ajfa-11077	236	81	non	non	ADJ
ajfa-11077	236	82	-	-	ADJ
ajfa-11077	236	83	stationary	stationary	ADJ
ajfa-11077	236	84	△	△	PROPN
ajfa-11077	236	85	roe	roe	NOUN
ajfa-11077	236	86	23	23	NUM
ajfa-11077	236	87	-8.826	-8.826	PUNCT
ajfa-11077	236	88	0.0000	0.0000	NUM
ajfa-11077	236	89	stationary	stationary	ADJ
ajfa-11077	236	90	2722	2722	NUM
ajfa-11077	236	91	roe	roe	NOUN
ajfa-11077	236	92	14	14	NUM
ajfa-11077	236	93	-2.132	-2.132	NUM
ajfa-11077	236	94	0.2320	0.2320	NUM
ajfa-11077	236	95	non	non	ADJ
ajfa-11077	236	96	-	-	ADJ
ajfa-11077	236	97	stationary	stationary	ADJ
ajfa-11077	236	98	△	△	PROPN
ajfa-11077	236	99	roe	roe	NOUN
ajfa-11077	236	100	19	19	NUM
ajfa-11077	236	101	-6.034	-6.034	SYM
ajfa-11077	236	102	0.0000	0.0000	NUM
ajfa-11077	236	103	stationary	stationary	ADJ
ajfa-11077	236	104	2724	2724	NUM
ajfa-11077	236	105	roe	roe	NOUN
ajfa-11077	236	106	14	14	NUM
ajfa-11077	236	107	0.394	0.394	NUM
ajfa-11077	236	108	0.9813	0.9813	NUM
ajfa-11077	236	109	non	non	ADJ
ajfa-11077	236	110	-	-	ADJ
ajfa-11077	236	111	stationary	stationary	ADJ
ajfa-11077	236	112	△	△	PROPN
ajfa-11077	236	113	roe	roe	NOUN
ajfa-11077	236	114	19	19	NUM
ajfa-11077	236	115	-7.304	-7.304	PROPN
ajfa-11077	236	116	0.0000	0.0000	NUM
ajfa-11077	236	117	stationary	stationary	ADJ
ajfa-11077	236	118	5701	5701	NUM
ajfa-11077	236	119	roe	roe	NOUN
ajfa-11077	236	120	25	25	NUM
ajfa-11077	236	121	-2.505	-2.505	PUNCT
ajfa-11077	236	122	0.1143	0.1143	VERB
ajfa-11077	236	123	non	non	ADJ
ajfa-11077	236	124	-	-	ADJ
ajfa-11077	236	125	stationary	stationary	ADJ
ajfa-11077	236	126	△	△	PROPN
ajfa-11077	236	127	roe	roe	NOUN
ajfa-11077	236	128	30	30	NUM
ajfa-11077	236	129	-8.123	-8.123	NOUN
ajfa-11077	236	130	0.0000	0.0000	NUM
ajfa-11077	236	131	stationary	stationary	ADJ
ajfa-11077	236	132	5703	5703	NUM
ajfa-11077	236	133	roe	roe	NOUN
ajfa-11077	236	134	56	56	NUM
ajfa-11077	236	135	-1.942	-1.942	NOUN
ajfa-11077	236	136	0.3124	0.3124	NUM
ajfa-11077	236	137	non	non	ADJ
ajfa-11077	236	138	-	-	ADJ
ajfa-11077	236	139	stationary	stationary	ADJ
ajfa-11077	236	140	△	△	PROPN
ajfa-11077	236	141	roe	roe	NOUN
ajfa-11077	236	142	61	61	NUM
ajfa-11077	236	143	-10.652	-10.652	PROPN
ajfa-11077	236	144	0.0000	0.0000	NUM
ajfa-11077	236	145	stationary	stationary	ADJ
ajfa-11077	236	146	5704	5704	NUM
ajfa-11077	236	147	roe	roe	NOUN
ajfa-11077	236	148	56	56	NUM
ajfa-11077	236	149	-1.332	-1.332	NOUN
ajfa-11077	236	150	0.6146	0.6146	NUM
ajfa-11077	236	151	non	non	ADJ
ajfa-11077	236	152	-	-	ADJ
ajfa-11077	236	153	stationary	stationary	ADJ
ajfa-11077	236	154	△	△	PROPN
ajfa-11077	236	155	roe	roe	NOUN
ajfa-11077	236	156	61	61	NUM
ajfa-11077	236	157	-17.278	-17.278	SYM
ajfa-11077	236	158	0.000	0.000	NUM
ajfa-11077	236	159	stationary	stationary	ADJ
ajfa-11077	236	160	next	next	ADV
ajfa-11077	236	161	,	,	PUNCT
ajfa-11077	236	162	patro	patro	NOUN
ajfa-11077	236	163	,	,	PUNCT
ajfa-11077	236	164	wald	wald	PROPN
ajfa-11077	236	165	,	,	PUNCT
ajfa-11077	236	166	and	and	CCONJ
ajfa-11077	236	167	wu	wu	PROPN
ajfa-11077	236	168	(	(	PUNCT
ajfa-11077	236	169	2002	2002	NUM
ajfa-11077	236	170	)	)	PUNCT
ajfa-11077	236	171	found	find	VERB
ajfa-11077	236	172	the	the	DET
ajfa-11077	236	173	significant	significant	ADJ
ajfa-11077	236	174	currency	currency	NOUN
ajfa-11077	236	175	risk	risk	NOUN
ajfa-11077	236	176	exposures	exposure	NOUN
ajfa-11077	236	177	in	in	ADP
ajfa-11077	236	178	country	country	NOUN
ajfa-11077	236	179	equity	equity	NOUN
ajfa-11077	236	180	index	index	NOUN
ajfa-11077	236	181	returns	return	NOUN
ajfa-11077	236	182	by	by	ADP
ajfa-11077	236	183	using	use	VERB
ajfa-11077	236	184	the	the	DET
ajfa-11077	236	185	garch	garch	NOUN
ajfa-11077	236	186	model	model	NOUN
ajfa-11077	236	187	.	.	PUNCT
ajfa-11077	237	1	and	and	CCONJ
ajfa-11077	237	2	,	,	PUNCT
ajfa-11077	237	3	polodoo	polodoo	PROPN
ajfa-11077	237	4	,	,	PUNCT
ajfa-11077	237	5	seetanah	seetanah	PROPN
ajfa-11077	237	6	,	,	PUNCT
ajfa-11077	237	7	and	and	CCONJ
ajfa-11077	237	8	sannassee	sannassee	VERB
ajfa-11077	237	9	(	(	PUNCT
ajfa-11077	237	10	2016	2016	NUM
ajfa-11077	237	11	)	)	PUNCT
ajfa-11077	237	12	discussed	discuss	VERB
ajfa-11077	237	13	the	the	DET
ajfa-11077	237	14	nexus	nexus	NOUN
ajfa-11077	237	15	between	between	ADP
ajfa-11077	237	16	exchange	exchange	NOUN
ajfa-11077	237	17	rate	rate	NOUN
ajfa-11077	237	18	volatility	volatility	NOUN
ajfa-11077	237	19	and	and	CCONJ
ajfa-11077	237	20	manufacturing	manufacturing	NOUN
ajfa-11077	237	21	trade	trade	NOUN
ajfa-11077	237	22	.	.	PUNCT
ajfa-11077	238	1	they	they	PRON
ajfa-11077	238	2	found	find	VERB
ajfa-11077	238	3	that	that	SCONJ
ajfa-11077	238	4	exchange	exchange	NOUN
ajfa-11077	238	5	rate	rate	NOUN
ajfa-11077	238	6	volatility	volatility	NOUN
ajfa-11077	238	7	has	have	VERB
ajfa-11077	238	8	an	an	DET
ajfa-11077	238	9	adverse	adverse	ADJ
ajfa-11077	238	10	effect	effect	NOUN
ajfa-11077	238	11	on	on	ADP
ajfa-11077	238	12	the	the	DET
ajfa-11077	238	13	real	real	ADJ
ajfa-11077	238	14	manufacturing	manufacturing	NOUN
ajfa-11077	238	15	trade	trade	NOUN
ajfa-11077	238	16	of	of	ADP
ajfa-11077	238	17	the	the	DET
ajfa-11077	238	18	africa	africa	PROPN
ajfa-11077	238	19	countries	country	NOUN
ajfa-11077	238	20	.	.	PUNCT
ajfa-11077	239	1	as	as	SCONJ
ajfa-11077	239	2	shown	show	VERB
ajfa-11077	239	3	in	in	ADP
ajfa-11077	239	4	kelilume	kelilume	PROPN
ajfa-11077	239	5	(	(	PUNCT
ajfa-11077	239	6	2016	2016	NUM
ajfa-11077	239	7	)	)	PUNCT
ajfa-11077	239	8	,	,	PUNCT
ajfa-11077	239	9	he	he	PRON
ajfa-11077	239	10	applied	apply	VERB
ajfa-11077	239	11	the	the	DET
ajfa-11077	239	12	dynamic	dynamic	ADJ
ajfa-11077	239	13	panel	panel	NOUN
ajfa-11077	239	14	regression	regression	NOUN
ajfa-11077	239	15	approach	approach	NOUN
ajfa-11077	239	16	to	to	PART
ajfa-11077	239	17	investigate	investigate	VERB
ajfa-11077	239	18	the	the	DET
ajfa-11077	239	19	effects	effect	NOUN
ajfa-11077	239	20	of	of	ADP
ajfa-11077	239	21	exchange	exchange	NOUN
ajfa-11077	239	22	rate	rate	NOUN
ajfa-11077	239	23	volatility	volatility	NOUN
ajfa-11077	239	24	on	on	ADP
ajfa-11077	239	25	firm	firm	ADJ
ajfa-11077	239	26	performance	performance	NOUN
ajfa-11077	239	27	by	by	ADP
ajfa-11077	239	28	examining	examine	VERB
ajfa-11077	239	29	20	20	NUM
ajfa-11077	239	30	companies	company	NOUN
ajfa-11077	239	31	listing	list	VERB
ajfa-11077	239	32	in	in	ADP
ajfa-11077	239	33	nigerian	nigerian	ADJ
ajfa-11077	239	34	stock	stock	NOUN
ajfa-11077	239	35	exchange	exchange	NOUN
ajfa-11077	239	36	.	.	PUNCT
ajfa-11077	240	1	it	it	PRON
ajfa-11077	240	2	revealed	reveal	VERB
ajfa-11077	240	3	that	that	SCONJ
ajfa-11077	240	4	exchange	exchange	NOUN
ajfa-11077	240	5	rate	rate	NOUN
ajfa-11077	240	6	volatility	volatility	NOUN
ajfa-11077	240	7	has	have	VERB
ajfa-11077	240	8	significant	significant	ADJ
ajfa-11077	240	9	negative	negative	ADJ
ajfa-11077	240	10	impacts	impact	NOUN
ajfa-11077	240	11	on	on	ADP
ajfa-11077	240	12	the	the	DET
ajfa-11077	240	13	roas	roas	NOUN
ajfa-11077	240	14	,	,	PUNCT
ajfa-11077	240	15	atrs	atrs	PROPN
ajfa-11077	240	16	.	.	PUNCT
ajfa-11077	241	1	here	here	ADV
ajfa-11077	241	2	,	,	PUNCT
ajfa-11077	241	3	that	that	SCONJ
ajfa-11077	241	4	the	the	DET
ajfa-11077	241	5	effects	effect	NOUN
ajfa-11077	241	6	of	of	ADP
ajfa-11077	241	7	the	the	DET
ajfa-11077	241	8	fluctuations	fluctuation	NOUN
ajfa-11077	241	9	of	of	ADP
ajfa-11077	241	10	exchange	exchange	NOUN
ajfa-11077	241	11	rates	rate	NOUN
ajfa-11077	241	12	on	on	ADP
ajfa-11077	241	13	the	the	DET
ajfa-11077	241	14	firm	firm	NOUN
ajfa-11077	241	15	’s	’s	PART
ajfa-11077	241	16	performance	performance	NOUN
ajfa-11077	241	17	is	be	AUX
ajfa-11077	241	18	the	the	DET
ajfa-11077	241	19	main	main	ADJ
ajfa-11077	241	20	purpose	purpose	NOUN
ajfa-11077	241	21	of	of	ADP
ajfa-11077	241	22	this	this	DET
ajfa-11077	241	23	study	study	NOUN
ajfa-11077	241	24	.	.	PUNCT
ajfa-11077	242	1	therefore	therefore	ADV
ajfa-11077	242	2	,	,	PUNCT
ajfa-11077	242	3	like	like	ADP
ajfa-11077	242	4	the	the	DET
ajfa-11077	242	5	work	work	NOUN
ajfa-11077	242	6	in	in	ADP
ajfa-11077	242	7	kim	kim	PROPN
ajfa-11077	242	8	(	(	PUNCT
ajfa-11077	242	9	2012	2012	NUM
ajfa-11077	242	10	)	)	PUNCT
ajfa-11077	242	11	,	,	PUNCT
ajfa-11077	242	12	the	the	DET
ajfa-11077	242	13	following	follow	VERB
ajfa-11077	242	14	autoregression	autoregression	NOUN
ajfa-11077	242	15	moving	move	VERB
ajfa-11077	242	16	average	average	ADJ
ajfa-11077	242	17	(	(	PUNCT
ajfa-11077	242	18	arima	arima	PROPN
ajfa-11077	242	19	)	)	PUNCT
ajfa-11077	242	20	model	model	NOUN
ajfa-11077	242	21	:	:	PUNCT
ajfa-11077	242	22			X
ajfa-11077	243	1	=	=	PUNCT
ajfa-11077	243	2	−⋅+⋅+=	−⋅+⋅+=	PUNCT
ajfa-11077	243	3	p	p	X
ajfa-11077	243	4	k	k	PROPN
ajfa-11077	243	5	ktikitmiiti	ktikitmiiti	PROPN
ajfa-11077	243	6	eperformancdrmrfeperformancd	eperformancdrmrfeperformancd	PROPN
ajfa-11077	243	7	1	1	NUM
ajfa-11077	243	8	11	11	NUM
ajfa-11077	243	9	,	,	PUNCT
ajfa-11077	243	10	,	,	PUNCT
ajfa-11077	243	11	,	,	PUNCT
ajfa-11077	243	12	,	,	PUNCT
ajfa-11077	243	13	φβα	φβα	PROPN
ajfa-11077	243	14	asian	asian	PROPN
ajfa-11077	243	15	journal	journal	PROPN
ajfa-11077	243	16	of	of	ADP
ajfa-11077	243	17	finance	finance	PROPN
ajfa-11077	243	18	&	&	CCONJ
ajfa-11077	243	19	accounting	accounting	PROPN
ajfa-11077	243	20	issn	issn	PROPN
ajfa-11077	243	21	1946	1946	NUM
ajfa-11077	243	22	-	-	PUNCT
ajfa-11077	243	23	052x	052x	PROPN
ajfa-11077	243	24	2017	2017	NUM
ajfa-11077	243	25	,	,	PUNCT
ajfa-11077	243	26	vol	vol	NOUN
ajfa-11077	243	27	.	.	NOUN
ajfa-11077	243	28	9	9	NUM
ajfa-11077	243	29	,	,	PUNCT
ajfa-11077	243	30	no	no	INTJ
ajfa-11077	243	31	.	.	NOUN
ajfa-11077	243	32	1	1	NUM
ajfa-11077	243	33	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	243	34	290	290	NUM
ajfa-11077	243	35			NOUN
ajfa-11077	243	36	=	=	SYM
ajfa-11077	243	37	−	−	PROPN
ajfa-11077	244	1	=	=	PUNCT
ajfa-11077	244	2	⋅+⋅+δ⋅+	⋅+⋅+δ⋅+	PRON
ajfa-11077	244	3	q	q	NOUN
ajfa-11077	244	4	s	s	NOUN
ajfa-11077	244	5	stistii	stistii	NOUN
ajfa-11077	244	6	n	n	PROPN
ajfa-11077	244	7	j	j	PROPN
ajfa-11077	244	8	tjji	tjji	NOUN
ajfa-11077	244	9	asizefx	asizefx	PROPN
ajfa-11077	244	10	01	01	NUM
ajfa-11077	244	11	,	,	PUNCT
ajfa-11077	244	12	,	,	PUNCT
ajfa-11077	244	13	,	,	PUNCT
ajfa-11077	244	14	,	,	PUNCT
ajfa-11077	244	15	θδγ	θδγ	NOUN
ajfa-11077	244	16	,	,	PUNCT
ajfa-11077	244	17	(	(	PUNCT
ajfa-11077	244	18	15	15	NUM
ajfa-11077	244	19	)	)	PUNCT
ajfa-11077	244	20	(	(	PUNCT
ajfa-11077	244	21	)	)	PUNCT
ajfa-11077	244	22	(	(	PUNCT
ajfa-11077	244	23	)	)	PUNCT
ajfa-11077	244	24	itqpqpt	itqpqpt	VERB
ajfa-11077	244	25	,	,	PUNCT
ajfa-11077	244	26	,	,	PUNCT
ajfa-11077	244	27	,	,	PUNCT
ajfa-11077	244	28	,	,	PUNCT
ajfa-11077	244	29	,	,	PUNCT
ajfa-11077	244	30	2max1max	2max1max	PROPN
ajfa-11077	244	31	+	+	PROPN
ajfa-11077	244	32	+	+	PROPN
ajfa-11077	244	33	=	=	SYM
ajfa-11077	244	34	,	,	PUNCT
ajfa-11077	244	35	ni	ni	PROPN
ajfa-11077	244	36	,	,	PUNCT
ajfa-11077	244	37	,	,	PUNCT
ajfa-11077	244	38	,	,	PUNCT
ajfa-11077	244	39	21=	21=	NOUN
ajfa-11077	244	40	.	.	PUNCT
ajfa-11077	245	1	where	where	SCONJ
ajfa-11077	245	2	,	,	PUNCT
ajfa-11077	245	3	tieperformancd	tieperformancd	VERB
ajfa-11077	245	4	,	,	PUNCT
ajfa-11077	245	5	1	1	NUM
ajfa-11077	245	6	represents	represent	VERB
ajfa-11077	245	7	the	the	DET
ajfa-11077	245	8	first	first	ADJ
ajfa-11077	245	9	-	-	PUNCT
ajfa-11077	245	10	ordered	order	VERB
ajfa-11077	245	11	difference	difference	NOUN
ajfa-11077	245	12	of	of	ADP
ajfa-11077	245	13	the	the	DET
ajfa-11077	245	14	i	i	PROPN
ajfa-11077	245	15	-	-	PUNCT
ajfa-11077	245	16	th	th	X
ajfa-11077	245	17	firm	firm	NOUN
ajfa-11077	245	18	’s	’s	PART
ajfa-11077	245	19	performance	performance	NOUN
ajfa-11077	245	20	in	in	ADP
ajfa-11077	245	21	the	the	DET
ajfa-11077	245	22	t	t	PROPN
ajfa-11077	245	23	-	-	PUNCT
ajfa-11077	245	24	th	th	NOUN
ajfa-11077	245	25	quarter	quarter	NOUN
ajfa-11077	245	26	,	,	PUNCT
ajfa-11077	245	27	and	and	CCONJ
ajfa-11077	245	28	ktieperformancd	ktieperformancd	NOUN
ajfa-11077	245	29	−	−	PROPN
ajfa-11077	245	30	,	,	PUNCT
ajfa-11077	245	31	1	1	NUM
ajfa-11077	245	32	is	be	AUX
ajfa-11077	245	33	its	its	PRON
ajfa-11077	245	34	k	k	NOUN
ajfa-11077	245	35	-	-	PUNCT
ajfa-11077	245	36	th	th	VERB
ajfa-11077	245	37	lagged	lag	VERB
ajfa-11077	245	38	variable	variable	NOUN
ajfa-11077	245	39	.	.	PUNCT
ajfa-11077	246	1	use	use	VERB
ajfa-11077	246	2	the	the	DET
ajfa-11077	246	3	stata13	stata13	NOUN
ajfa-11077	246	4	to	to	PART
ajfa-11077	246	5	find	find	VERB
ajfa-11077	246	6	the	the	DET
ajfa-11077	246	7	regression	regression	NOUN
ajfa-11077	246	8	results	result	NOUN
ajfa-11077	246	9	and	and	CCONJ
ajfa-11077	246	10	shown	show	VERB
ajfa-11077	246	11	in	in	ADP
ajfa-11077	246	12	the	the	DET
ajfa-11077	246	13	table	table	NOUN
ajfa-11077	246	14	4	4	NUM
ajfa-11077	246	15	.	.	PUNCT
ajfa-11077	246	16	model	model	NOUN
ajfa-11077	246	17	i	i	PRON
ajfa-11077	246	18	regresses	regress	VERB
ajfa-11077	246	19	road1	road1	VERB
ajfa-11077	246	20	on	on	ADP
ajfa-11077	246	21	all	all	DET
ajfa-11077	246	22	exchange	exchange	NOUN
ajfa-11077	246	23	fluctuations	fluctuation	NOUN
ajfa-11077	246	24	,	,	PUNCT
ajfa-11077	246	25	lagged	lag	VERB
ajfa-11077	246	26	variables	variable	NOUN
ajfa-11077	246	27	and	and	CCONJ
ajfa-11077	246	28	the	the	DET
ajfa-11077	246	29	control	control	NOUN
ajfa-11077	246	30	variables	variable	NOUN
ajfa-11077	246	31	.	.	PUNCT
ajfa-11077	247	1	model	model	PROPN
ajfa-11077	247	2	ii	ii	PROPN
ajfa-11077	247	3	regresses	regress	VERB
ajfa-11077	247	4	road1	road1	VERB
ajfa-11077	247	5	on	on	ADP
ajfa-11077	247	6	all	all	DET
ajfa-11077	247	7	variables	variable	NOUN
ajfa-11077	247	8	but	but	CCONJ
ajfa-11077	247	9	selected	select	VERB
ajfa-11077	247	10	by	by	ADP
ajfa-11077	247	11	eliminating	eliminate	VERB
ajfa-11077	247	12	higher	high	ADJ
ajfa-11077	247	13	p	p	ADJ
ajfa-11077	247	14	-	-	PUNCT
ajfa-11077	247	15	value	value	NOUN
ajfa-11077	247	16	explanatory	explanatory	ADJ
ajfa-11077	247	17	variables	variable	NOUN
ajfa-11077	247	18	.	.	PUNCT
ajfa-11077	248	1	table	table	NOUN
ajfa-11077	248	2	4	4	NUM
ajfa-11077	248	3	.	.	PUNCT
ajfa-11077	249	1	regression	regression	NOUN
ajfa-11077	249	2	on	on	ADP
ajfa-11077	249	3	roa	roa	PROPN
ajfa-11077	249	4	the	the	DET
ajfa-11077	249	5	regression	regression	NOUN
ajfa-11077	249	6	model	model	NOUN
ajfa-11077	249	7	is	be	AUX
ajfa-11077	249	8	given	give	VERB
ajfa-11077	249	9	as	as	SCONJ
ajfa-11077	249	10	follows	follow	VERB
ajfa-11077	249	11	:	:	PUNCT
ajfa-11077	249	12	.	.	PUNCT
ajfa-11077	250	1	,	,	PUNCT
ajfa-11077	250	2	,	,	PUNCT
ajfa-11077	250	3	,	,	PUNCT
ajfa-11077	250	4	,	,	PUNCT
ajfa-11077	250	5	,	,	PUNCT
ajfa-11077	250	6	,	,	PUNCT
ajfa-11077	250	7	,	,	PUNCT
ajfa-11077	250	8	,	,	PUNCT
ajfa-11077	250	9	titii	titii	VERB
ajfa-11077	250	10	n	n	PRON
ajfa-11077	250	11	j	j	PROPN
ajfa-11077	250	12	tjji	tjji	NOUN
ajfa-11077	250	13	p	p	PROPN
ajfa-11077	250	14	k	k	PROPN
ajfa-11077	250	15	ktikitmiiti	ktikitmiiti	PROPN
ajfa-11077	250	16	asizefxroadrmrfroad	asizefxroadrmrfroad	PROPN
ajfa-11077	251	1	+	+	NOUN
ajfa-11077	251	2	⋅+δ⋅+⋅+⋅+=	⋅+δ⋅+⋅+⋅+=	NOUN
ajfa-11077	251	3			NOUN
ajfa-11077	251	4	=	=	NOUN
ajfa-11077	251	5	=	=	SYM
ajfa-11077	251	6	−	−	PROPN
ajfa-11077	251	7	δγφβα	δγφβα	X
ajfa-11077	251	8	11	11	NUM
ajfa-11077	251	9	11	11	NUM
ajfa-11077	251	10	model	model	NOUN
ajfa-11077	251	11	i	i	PRON
ajfa-11077	251	12	regresses	regress	VERB
ajfa-11077	251	13	1,,,1	1,,,1	NUM
ajfa-11077	251	14	−⋅⋅⋅	−⋅⋅⋅	NUM
ajfa-11077	251	15	−≡	−≡	PROPN
ajfa-11077	251	16	ttt	ttt	PROPN
ajfa-11077	251	17	roaroaroad	roaroaroad	NOUN
ajfa-11077	251	18	on	on	ADP
ajfa-11077	251	19	all	all	DET
ajfa-11077	251	20	exchange	exchange	NOUN
ajfa-11077	251	21	fluctuations	fluctuation	NOUN
ajfa-11077	251	22	,	,	PUNCT
ajfa-11077	251	23	lagged	lag	VERB
ajfa-11077	251	24	variables	variable	NOUN
ajfa-11077	251	25	and	and	CCONJ
ajfa-11077	251	26	the	the	DET
ajfa-11077	251	27	control	control	NOUN
ajfa-11077	251	28	variables	variable	NOUN
ajfa-11077	251	29	.	.	PUNCT
ajfa-11077	252	1	model	model	PROPN
ajfa-11077	252	2	ii	ii	PROPN
ajfa-11077	252	3	regresses	regress	VERB
ajfa-11077	252	4	road1	road1	VERB
ajfa-11077	252	5	on	on	ADP
ajfa-11077	252	6	all	all	DET
ajfa-11077	252	7	variables	variable	NOUN
ajfa-11077	252	8	but	but	CCONJ
ajfa-11077	252	9	selected	select	VERB
ajfa-11077	252	10	by	by	ADP
ajfa-11077	252	11	eliminating	eliminate	VERB
ajfa-11077	252	12	higher	high	ADJ
ajfa-11077	252	13	p	p	ADJ
ajfa-11077	252	14	-	-	PUNCT
ajfa-11077	252	15	value	value	NOUN
ajfa-11077	252	16	explanatory	explanatory	ADJ
ajfa-11077	252	17	variables	variable	NOUN
ajfa-11077	252	18	.	.	PUNCT
ajfa-11077	253	1	the	the	DET
ajfa-11077	253	2	values	value	NOUN
ajfa-11077	253	3	in	in	ADP
ajfa-11077	253	4	the	the	DET
ajfa-11077	253	5	parentheses	parenthesis	NOUN
ajfa-11077	253	6	are	be	AUX
ajfa-11077	253	7	standard	standard	ADJ
ajfa-11077	253	8	error	error	NOUN
ajfa-11077	253	9	of	of	ADP
ajfa-11077	253	10	the	the	DET
ajfa-11077	253	11	estimates	estimate	NOUN
ajfa-11077	253	12	.	.	PUNCT
ajfa-11077	254	1	and	and	CCONJ
ajfa-11077	254	2	*	*	PUNCT
ajfa-11077	254	3	,	,	PUNCT
ajfa-11077	254	4	*	*	PUNCT
ajfa-11077	254	5	*	*	PUNCT
ajfa-11077	254	6	and	and	CCONJ
ajfa-11077	254	7	*	*	PUNCT
ajfa-11077	254	8	*	*	PUNCT
ajfa-11077	254	9	*	*	PUNCT
ajfa-11077	254	10	stand	stand	VERB
ajfa-11077	254	11	for	for	ADP
ajfa-11077	254	12	10	10	NUM
ajfa-11077	254	13	%	%	NOUN
ajfa-11077	254	14	,	,	PUNCT
ajfa-11077	254	15	5	5	NUM
ajfa-11077	254	16	%	%	NOUN
ajfa-11077	254	17	and	and	CCONJ
ajfa-11077	254	18	1	1	NUM
ajfa-11077	254	19	%	%	NOUN
ajfa-11077	254	20	level	level	NOUN
ajfa-11077	254	21	of	of	ADP
ajfa-11077	254	22	significance	significance	NOUN
ajfa-11077	254	23	,	,	PUNCT
ajfa-11077	254	24	respectively	respectively	ADV
ajfa-11077	254	25	.	.	PUNCT
ajfa-11077	255	1	company	company	NOUN
ajfa-11077	255	2	hotel	hotel	NOUN
ajfa-11077	255	3	holiday	holiday	NOUN
ajfa-11077	255	4	garden	garden	NOUN
ajfa-11077	255	5	(	(	PUNCT
ajfa-11077	255	6	2702	2702	NUM
ajfa-11077	255	7	)	)	PUNCT
ajfa-11077	255	8	the	the	DET
ajfa-11077	255	9	leofoo	leofoo	PROPN
ajfa-11077	255	10	development	development	PROPN
ajfa-11077	255	11	co.	co.	PROPN
ajfa-11077	255	12	,	,	PUNCT
ajfa-11077	255	13	ltd	ltd	PROPN
ajfa-11077	255	14	.	.	PROPN
ajfa-11077	255	15	(	(	PUNCT
ajfa-11077	255	16	2705	2705	NUM
ajfa-11077	255	17	)	)	PUNCT
ajfa-11077	255	18	formosa	formosa	PROPN
ajfa-11077	255	19	international	international	ADJ
ajfa-11077	255	20	hotels	hotel	NOUN
ajfa-11077	255	21	corporation	corporation	NOUN
ajfa-11077	255	22	(	(	PUNCT
ajfa-11077	255	23	2707	2707	NUM
ajfa-11077	255	24	)	)	PUNCT
ajfa-11077	255	25	variables	variable	NOUN
ajfa-11077	255	26	model	model	NOUN
ajfa-11077	256	1	i	i	PRON
ajfa-11077	256	2	model	model	PROPN
ajfa-11077	256	3	ii	ii	PROPN
ajfa-11077	256	4	model	model	NOUN
ajfa-11077	256	5	i	i	PRON
ajfa-11077	256	6	model	model	PROPN
ajfa-11077	256	7	ii	ii	PROPN
ajfa-11077	256	8	model	model	NOUN
ajfa-11077	256	9	i	i	PRON
ajfa-11077	256	10	model	model	VERB
ajfa-11077	256	11	ii	ii	PROPN
ajfa-11077	256	12	const	const	PROPN
ajfa-11077	256	13	.	.	PUNCT
ajfa-11077	257	1	10.31	10.31	NUM
ajfa-11077	257	2	(	(	PUNCT
ajfa-11077	257	3	7.59	7.59	NUM
ajfa-11077	257	4	)	)	PUNCT
ajfa-11077	257	5	0.10	0.10	NUM
ajfa-11077	257	6	(	(	PUNCT
ajfa-11077	257	7	0.09	0.09	NUM
ajfa-11077	257	8	)	)	PUNCT
ajfa-11077	257	9	106.98	106.98	NUM
ajfa-11077	257	10	(	(	PUNCT
ajfa-11077	257	11	81.09	81.09	NUM
ajfa-11077	257	12	)	)	PUNCT
ajfa-11077	257	13	101.70	101.70	NUM
ajfa-11077	257	14	*	*	PUNCT
ajfa-11077	257	15	*	*	PUNCT
ajfa-11077	257	16	(	(	PUNCT
ajfa-11077	257	17	47.14	47.14	NUM
ajfa-11077	257	18	)	)	PUNCT
ajfa-11077	257	19	23.71	23.71	NUM
ajfa-11077	257	20	(	(	PUNCT
ajfa-11077	257	21	16.21	16.21	NUM
ajfa-11077	257	22	)	)	PUNCT
ajfa-11077	257	23	-0.06	-0.06	NUM
ajfa-11077	257	24	(	(	PUNCT
ajfa-11077	257	25	0.14	0.14	NUM
ajfa-11077	257	26	)	)	PUNCT
ajfa-11077	257	27	rmrf	rmrf	NOUN
ajfa-11077	257	28	0.01	0.01	NUM
ajfa-11077	257	29	(	(	PUNCT
ajfa-11077	257	30	0.01	0.01	NUM
ajfa-11077	257	31	)	)	PUNCT
ajfa-11077	257	32	-0.05	-0.05	NOUN
ajfa-11077	257	33	(	(	PUNCT
ajfa-11077	257	34	0.07	0.07	NUM
ajfa-11077	257	35	)	)	PUNCT
ajfa-11077	257	36	-0.01	-0.01	NUM
ajfa-11077	257	37	(	(	PUNCT
ajfa-11077	257	38	0.02	0.02	NUM
ajfa-11077	257	39	)	)	PUNCT
ajfa-11077	257	40	usd	usd	NOUN
ajfa-11077	257	41	0.14	0.14	NUM
ajfa-11077	257	42	(	(	PUNCT
ajfa-11077	257	43	0.14	0.14	NUM
ajfa-11077	257	44	)	)	PUNCT
ajfa-11077	257	45	0.15	0.15	NUM
ajfa-11077	257	46	(	(	PUNCT
ajfa-11077	257	47	0.33	0.33	NUM
ajfa-11077	257	48	)	)	PUNCT
ajfa-11077	257	49	0.10	0.10	NUM
ajfa-11077	257	50	(	(	PUNCT
ajfa-11077	257	51	0.20	0.20	NUM
ajfa-11077	257	52	)	)	PUNCT
ajfa-11077	257	53	jpy	jpy	PROPN
ajfa-11077	257	54	0.03	0.03	NUM
ajfa-11077	257	55	(	(	PUNCT
ajfa-11077	257	56	0.03	0.03	NUM
ajfa-11077	257	57	)	)	PUNCT
ajfa-11077	257	58	-0.01	-0.01	NUM
ajfa-11077	257	59	(	(	PUNCT
ajfa-11077	257	60	0.09	0.09	NUM
ajfa-11077	257	61	)	)	PUNCT
ajfa-11077	257	62	-0.05	-0.05	NOUN
ajfa-11077	257	63	(	(	PUNCT
ajfa-11077	257	64	0.05	0.05	NUM
ajfa-11077	257	65	)	)	PUNCT
ajfa-11077	257	66	asian	asian	ADJ
ajfa-11077	257	67	journal	journal	NOUN
ajfa-11077	257	68	of	of	ADP
ajfa-11077	257	69	finance	finance	PROPN
ajfa-11077	257	70	&	&	CCONJ
ajfa-11077	257	71	accounting	accounting	PROPN
ajfa-11077	257	72	issn	issn	PROPN
ajfa-11077	257	73	1946	1946	NUM
ajfa-11077	257	74	-	-	PUNCT
ajfa-11077	257	75	052x	052x	PROPN
ajfa-11077	257	76	2017	2017	NUM
ajfa-11077	257	77	,	,	PUNCT
ajfa-11077	257	78	vol	vol	NOUN
ajfa-11077	257	79	.	.	NOUN
ajfa-11077	258	1	9	9	NUM
ajfa-11077	258	2	,	,	PUNCT
ajfa-11077	258	3	no	no	INTJ
ajfa-11077	258	4	.	.	NOUN
ajfa-11077	258	5	1	1	NUM
ajfa-11077	258	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	258	7	291	291	NUM
ajfa-11077	258	8	cny	cny	NOUN
ajfa-11077	258	9	-0.09	-0.09	NUM
ajfa-11077	258	10	(	(	PUNCT
ajfa-11077	258	11	0.14	0.14	NUM
ajfa-11077	258	12	)	)	PUNCT
ajfa-11077	258	13	-0.38	-0.38	PUNCT
ajfa-11077	258	14	(	(	PUNCT
ajfa-11077	258	15	0.36	0.36	NUM
ajfa-11077	258	16	)	)	PUNCT
ajfa-11077	258	17	-0.21	-0.21	PROPN
ajfa-11077	258	18	(	(	PUNCT
ajfa-11077	258	19	0.21	0.21	NUM
ajfa-11077	258	20	)	)	PUNCT
ajfa-11077	258	21	eur	eur	NOUN
ajfa-11077	258	22	-0.05	-0.05	X
ajfa-11077	258	23	(	(	PUNCT
ajfa-11077	258	24	0.05	0.05	NUM
ajfa-11077	258	25	)	)	PUNCT
ajfa-11077	258	26	0.09	0.09	NUM
ajfa-11077	258	27	(	(	PUNCT
ajfa-11077	258	28	0.13	0.13	NUM
ajfa-11077	258	29	)	)	PUNCT
ajfa-11077	258	30	-0.00	-0.00	NUM
ajfa-11077	258	31	(	(	PUNCT
ajfa-11077	258	32	0.08	0.08	NUM
ajfa-11077	258	33	)	)	PUNCT
ajfa-11077	258	34	krw	krw	NOUN
ajfa-11077	258	35	0.02	0.02	NUM
ajfa-11077	258	36	(	(	PUNCT
ajfa-11077	258	37	0.04	0.04	NUM
ajfa-11077	258	38	)	)	PUNCT
ajfa-11077	258	39	0.28	0.28	NUM
ajfa-11077	258	40	*	*	SYM
ajfa-11077	258	41	(	(	PUNCT
ajfa-11077	258	42	0.14	0.14	NUM
ajfa-11077	258	43	)	)	PUNCT
ajfa-11077	258	44	0.20	0.20	NUM
ajfa-11077	258	45	*	*	PUNCT
ajfa-11077	258	46	*	*	PUNCT
ajfa-11077	258	47	(	(	PUNCT
ajfa-11077	258	48	0.08	0.08	NUM
ajfa-11077	258	49	)	)	PUNCT
ajfa-11077	258	50	0.04	0.04	NUM
ajfa-11077	258	51	(	(	PUNCT
ajfa-11077	258	52	0.07	0.07	NUM
ajfa-11077	258	53	)	)	PUNCT
ajfa-11077	258	54	gbp	gbp	NOUN
ajfa-11077	258	55	0.03	0.03	NUM
ajfa-11077	258	56	(	(	PUNCT
ajfa-11077	258	57	0.05	0.05	NUM
ajfa-11077	258	58	)	)	PUNCT
ajfa-11077	258	59	-0.12	-0.12	NUM
ajfa-11077	258	60	(	(	PUNCT
ajfa-11077	258	61	0.17	0.17	NUM
ajfa-11077	258	62	)	)	PUNCT
ajfa-11077	258	63	-0.03	-0.03	NOUN
ajfa-11077	258	64	(	(	PUNCT
ajfa-11077	258	65	0.08	0.08	NUM
ajfa-11077	258	66	)	)	PUNCT
ajfa-11077	258	67	sgd	sgd	NOUN
ajfa-11077	258	68	0.05	0.05	NUM
ajfa-11077	258	69	(	(	PUNCT
ajfa-11077	258	70	0.14	0.14	NUM
ajfa-11077	258	71	)	)	PUNCT
ajfa-11077	258	72	0.51	0.51	NUM
ajfa-11077	258	73	(	(	PUNCT
ajfa-11077	258	74	0.62	0.62	NUM
ajfa-11077	258	75	)	)	PUNCT
ajfa-11077	258	76	0.41	0.41	NUM
ajfa-11077	258	77	*	*	SYM
ajfa-11077	258	78	(	(	PUNCT
ajfa-11077	258	79	0.21	0.21	NUM
ajfa-11077	258	80	)	)	PUNCT
ajfa-11077	258	81	0.06	0.06	NUM
ajfa-11077	258	82	(	(	PUNCT
ajfa-11077	258	83	0.21	0.21	NUM
ajfa-11077	258	84	)	)	PUNCT
ajfa-11077	258	85	aud	aud	NOUN
ajfa-11077	258	86	-0.04	-0.04	NUM
ajfa-11077	258	87	(	(	PUNCT
ajfa-11077	258	88	0.04	0.04	NUM
ajfa-11077	258	89	)	)	PUNCT
ajfa-11077	258	90	-0.04	-0.04	NUM
ajfa-11077	258	91	*	*	PUNCT
ajfa-11077	258	92	(	(	PUNCT
ajfa-11077	258	93	0.02	0.02	NUM
ajfa-11077	258	94	)	)	PUNCT
ajfa-11077	258	95	-0.21	-0.21	NUM
ajfa-11077	258	96	(	(	PUNCT
ajfa-11077	258	97	0.19	0.19	NUM
ajfa-11077	258	98	)	)	PUNCT
ajfa-11077	258	99	-0.20	-0.20	NOUN
ajfa-11077	258	100	*	*	PUNCT
ajfa-11077	258	101	*	*	PUNCT
ajfa-11077	258	102	(	(	PUNCT
ajfa-11077	258	103	0.07	0.07	NUM
ajfa-11077	258	104	)	)	PUNCT
ajfa-11077	258	105	0.06	0.06	NUM
ajfa-11077	258	106	(	(	PUNCT
ajfa-11077	258	107	0.06	0.06	NUM
ajfa-11077	258	108	)	)	PUNCT
ajfa-11077	258	109	0.09	0.09	NUM
ajfa-11077	258	110	*	*	PUNCT
ajfa-11077	258	111	*	*	PUNCT
ajfa-11077	258	112	*	*	PUNCT
ajfa-11077	258	113	(	(	PUNCT
ajfa-11077	258	114	0.03	0.03	NUM
ajfa-11077	258	115	)	)	PUNCT
ajfa-11077	258	116	idr	idr	NOUN
ajfa-11077	258	117	0.03	0.03	NUM
ajfa-11077	258	118	(	(	PUNCT
ajfa-11077	258	119	0.03	0.03	NUM
ajfa-11077	258	120	)	)	PUNCT
ajfa-11077	258	121	0.05	0.05	NUM
ajfa-11077	258	122	*	*	PUNCT
ajfa-11077	258	123	*	*	PUNCT
ajfa-11077	258	124	(	(	PUNCT
ajfa-11077	258	125	0.02	0.02	NUM
ajfa-11077	258	126	)	)	PUNCT
ajfa-11077	258	127	0.01	0.01	NUM
ajfa-11077	258	128	(	(	PUNCT
ajfa-11077	258	129	0.13	0.13	NUM
ajfa-11077	258	130	)	)	PUNCT
ajfa-11077	258	131	-0.09	-0.09	NUM
ajfa-11077	258	132	*	*	PUNCT
ajfa-11077	258	133	(	(	PUNCT
ajfa-11077	258	134	0.05	0.05	NUM
ajfa-11077	258	135	)	)	PUNCT
ajfa-11077	258	136	-0.07	-0.07	NOUN
ajfa-11077	258	137	*	*	PUNCT
ajfa-11077	258	138	*	*	PUNCT
ajfa-11077	258	139	(	(	PUNCT
ajfa-11077	258	140	0.03	0.03	NUM
ajfa-11077	258	141	)	)	PUNCT
ajfa-11077	258	142	thb	thb	NOUN
ajfa-11077	258	143	0.05	0.05	NUM
ajfa-11077	258	144	(	(	PUNCT
ajfa-11077	258	145	0.06	0.06	NUM
ajfa-11077	258	146	)	)	PUNCT
ajfa-11077	258	147	0.22	0.22	NUM
ajfa-11077	258	148	(	(	PUNCT
ajfa-11077	258	149	0.20	0.20	NUM
ajfa-11077	258	150	)	)	PUNCT
ajfa-11077	258	151	-0.00	-0.00	NUM
ajfa-11077	258	152	(	(	PUNCT
ajfa-11077	258	153	010	010	NUM
ajfa-11077	258	154	)	)	PUNCT
ajfa-11077	258	155	myr	myr	PROPN
ajfa-11077	258	156	-0.03	-0.03	PROPN
ajfa-11077	258	157	(	(	PUNCT
ajfa-11077	258	158	0.07	0.07	NUM
ajfa-11077	258	159	)	)	PUNCT
ajfa-11077	258	160	-0.17	-0.17	NOUN
ajfa-11077	258	161	(	(	PUNCT
ajfa-11077	258	162	0.21	0.21	NUM
ajfa-11077	258	163	)	)	PUNCT
ajfa-11077	258	164	-0.01	-0.01	NUM
ajfa-11077	258	165	(	(	PUNCT
ajfa-11077	258	166	0.11	0.11	NUM
ajfa-11077	258	167	)	)	PUNCT
ajfa-11077	258	168	php	php	NOUN
ajfa-11077	258	169	-0.04	-0.04	PROPN
ajfa-11077	258	170	(	(	PUNCT
ajfa-11077	258	171	0.06	0.06	NUM
ajfa-11077	258	172	)	)	PUNCT
ajfa-11077	258	173	-0.07	-0.07	NUM
ajfa-11077	258	174	(	(	PUNCT
ajfa-11077	258	175	0.18	0.18	NUM
ajfa-11077	258	176	)	)	PUNCT
ajfa-11077	258	177	0.09	0.09	NUM
ajfa-11077	258	178	(	(	PUNCT
ajfa-11077	258	179	0.09	0.09	NUM
ajfa-11077	258	180	)	)	PUNCT
ajfa-11077	258	181	lag1	lag1	NOUN
ajfa-11077	258	182	-0.83	-0.83	PRON
ajfa-11077	258	183	*	*	PUNCT
ajfa-11077	258	184	*	*	PUNCT
ajfa-11077	258	185	*	*	PUNCT
ajfa-11077	258	186	(	(	PUNCT
ajfa-11077	258	187	0.18	0.18	NUM
ajfa-11077	258	188	)	)	PUNCT
ajfa-11077	258	189	0.67	0.67	NUM
ajfa-11077	258	190	*	*	PUNCT
ajfa-11077	258	191	*	*	PUNCT
ajfa-11077	258	192	*	*	PUNCT
ajfa-11077	258	193	(	(	PUNCT
ajfa-11077	258	194	0.13	0.13	NUM
ajfa-11077	258	195	)	)	PUNCT
ajfa-11077	258	196	-0.91	-0.91	NOUN
ajfa-11077	258	197	*	*	PUNCT
ajfa-11077	258	198	*	*	PUNCT
ajfa-11077	258	199	(	(	PUNCT
ajfa-11077	258	200	0.33	0.33	NUM
ajfa-11077	258	201	)	)	PUNCT
ajfa-11077	258	202	-0.76	-0.76	PROPN
ajfa-11077	258	203	*	*	PROPN
ajfa-11077	258	204	*	*	PUNCT
ajfa-11077	258	205	*	*	PUNCT
ajfa-11077	258	206	(	(	PUNCT
ajfa-11077	258	207	0.18	0.18	NUM
ajfa-11077	258	208	)	)	PUNCT
ajfa-11077	258	209	-0.69	-0.69	NOUN
ajfa-11077	258	210	*	*	NOUN
ajfa-11077	258	211	*	*	PUNCT
ajfa-11077	258	212	*	*	PUNCT
ajfa-11077	258	213	(	(	PUNCT
ajfa-11077	258	214	0.15	0.15	NUM
ajfa-11077	258	215	)	)	PUNCT
ajfa-11077	258	216	-0.57	-0.57	NOUN
ajfa-11077	259	1	*	*	PUNCT
ajfa-11077	259	2	*	*	PUNCT
ajfa-11077	259	3	*	*	PUNCT
ajfa-11077	259	4	(	(	PUNCT
ajfa-11077	259	5	0.12	0.12	NUM
ajfa-11077	259	6	)	)	PUNCT
ajfa-11077	259	7	lag2	lag2	NOUN
ajfa-11077	259	8	-0.63	-0.63	NOUN
ajfa-11077	259	9	*	*	NOUN
ajfa-11077	259	10	*	*	PUNCT
ajfa-11077	259	11	*	*	PUNCT
ajfa-11077	259	12	(	(	PUNCT
ajfa-11077	259	13	0.20	0.20	NUM
ajfa-11077	259	14	)	)	PUNCT
ajfa-11077	259	15	-0.49	-0.49	ADP
ajfa-11077	259	16	*	*	NOUN
ajfa-11077	259	17	*	*	PUNCT
ajfa-11077	259	18	*	*	PUNCT
ajfa-11077	259	19	(	(	PUNCT
ajfa-11077	259	20	0.14	0.14	NUM
ajfa-11077	259	21	)	)	PUNCT
ajfa-11077	259	22	-0.34	-0.34	NOUN
ajfa-11077	259	23	(	(	PUNCT
ajfa-11077	259	24	0.34	0.34	NUM
ajfa-11077	259	25	)	)	PUNCT
ajfa-11077	259	26	-0.35	-0.35	NOUN
ajfa-11077	260	1	*	*	NOUN
ajfa-11077	260	2	*	*	PUNCT
ajfa-11077	260	3	(	(	PUNCT
ajfa-11077	260	4	0.17	0.17	NUM
ajfa-11077	260	5	)	)	PUNCT
ajfa-11077	260	6	-0.80	-0.80	NOUN
ajfa-11077	260	7	*	*	PUNCT
ajfa-11077	260	8	*	*	PUNCT
ajfa-11077	260	9	*	*	PUNCT
ajfa-11077	260	10	(	(	PUNCT
ajfa-11077	260	11	0.16	0.16	NUM
ajfa-11077	260	12	)	)	PUNCT
ajfa-11077	260	13	-0.67	-0.67	NOUN
ajfa-11077	260	14	*	*	PUNCT
ajfa-11077	260	15	*	*	PUNCT
ajfa-11077	260	16	*	*	PUNCT
ajfa-11077	260	17	(	(	PUNCT
ajfa-11077	260	18	0.12	0.12	NUM
ajfa-11077	260	19	)	)	PUNCT
ajfa-11077	260	20	lag	lag	VERB
ajfa-11077	260	21	3	3	NUM
ajfa-11077	260	22	-0.45	-0.45	NOUN
ajfa-11077	260	23	*	*	NOUN
ajfa-11077	260	24	*	*	PUNCT
ajfa-11077	260	25	(	(	PUNCT
ajfa-11077	260	26	0.19	0.19	NUM
ajfa-11077	260	27	)	)	PUNCT
ajfa-11077	260	28	-0.45	-0.45	NOUN
ajfa-11077	260	29	*	*	PUNCT
ajfa-11077	260	30	*	*	PUNCT
ajfa-11077	260	31	*	*	PUNCT
ajfa-11077	260	32	(	(	PUNCT
ajfa-11077	260	33	0.11	0.11	NUM
ajfa-11077	260	34	)	)	PUNCT
ajfa-11077	260	35	0.01	0.01	NUM
ajfa-11077	260	36	(	(	PUNCT
ajfa-11077	260	37	0.33	0.33	NUM
ajfa-11077	260	38	)	)	PUNCT
ajfa-11077	260	39	-0.51	-0.51	NOUN
ajfa-11077	260	40	*	*	PUNCT
ajfa-11077	260	41	*	*	PUNCT
ajfa-11077	260	42	*	*	PUNCT
ajfa-11077	260	43	(	(	PUNCT
ajfa-11077	260	44	0.15	0.15	NUM
ajfa-11077	260	45	)	)	PUNCT
ajfa-11077	260	46	-0.35	-0.35	NOUN
ajfa-11077	260	47	*	*	PUNCT
ajfa-11077	260	48	*	*	PUNCT
ajfa-11077	260	49	*	*	PUNCT
ajfa-11077	260	50	(	(	PUNCT
ajfa-11077	260	51	0.11	0.11	NUM
ajfa-11077	260	52	)	)	PUNCT
ajfa-11077	260	53	lag4	lag4	PROPN
ajfa-11077	260	54	0.01	0.01	NUM
ajfa-11077	260	55	(	(	PUNCT
ajfa-11077	260	56	0.15	0.15	NUM
ajfa-11077	260	57	)	)	PUNCT
ajfa-11077	260	58	-0.04	-0.04	NUM
ajfa-11077	260	59	(	(	PUNCT
ajfa-11077	260	60	0.25	0.25	NUM
ajfa-11077	260	61	)	)	PUNCT
ajfa-11077	260	62	-0.13	-0.13	NUM
ajfa-11077	260	63	(	(	PUNCT
ajfa-11077	260	64	0.15	0.15	NUM
ajfa-11077	260	65	)	)	PUNCT
ajfa-11077	260	66	size	size	NOUN
ajfa-11077	260	67	-0.53	-0.53	NOUN
ajfa-11077	260	68	(	(	PUNCT
ajfa-11077	260	69	0.36	0.36	NUM
ajfa-11077	260	70	)	)	PUNCT
ajfa-11077	260	71	-4.70	-4.70	NUM
ajfa-11077	260	72	(	(	PUNCT
ajfa-11077	260	73	3.57	3.57	NUM
ajfa-11077	260	74	)	)	PUNCT
ajfa-11077	260	75	-4.48	-4.48	NOUN
ajfa-11077	261	1	*	*	NOUN
ajfa-11077	261	2	*	*	PUNCT
ajfa-11077	261	3	(	(	PUNCT
ajfa-11077	261	4	2.08	2.08	NUM
ajfa-11077	261	5	)	)	PUNCT
ajfa-11077	261	6	-1.06	-1.06	NOUN
ajfa-11077	261	7	(	(	PUNCT
ajfa-11077	261	8	0.73	0.73	NUM
ajfa-11077	261	9	)	)	PUNCT
ajfa-11077	261	10	adj	adj	PROPN
ajfa-11077	261	11	.	.	PROPN
ajfa-11077	261	12	r2	r2	PROPN
ajfa-11077	261	13	0.46	0.46	NUM
ajfa-11077	261	14	0.51	0.51	NUM
ajfa-11077	261	15	0.03	0.03	NUM
ajfa-11077	261	16	0.32	0.32	NUM
ajfa-11077	261	17	0.38	0.38	NUM
ajfa-11077	261	18	0.44	0.44	NUM
ajfa-11077	261	19	obs	ob	NOUN
ajfa-11077	261	20	.	.	PUNCT
ajfa-11077	262	1	59	59	NUM
ajfa-11077	262	2	58	58	NUM
ajfa-11077	262	3	32	32	NUM
ajfa-11077	262	4	32	32	NUM
ajfa-11077	262	5	58	58	NUM
ajfa-11077	262	6	58	58	NUM
ajfa-11077	262	7	asian	asian	ADJ
ajfa-11077	262	8	journal	journal	NOUN
ajfa-11077	262	9	of	of	ADP
ajfa-11077	262	10	finance	finance	PROPN
ajfa-11077	262	11	&	&	CCONJ
ajfa-11077	262	12	accounting	accounting	PROPN
ajfa-11077	262	13	issn	issn	PROPN
ajfa-11077	262	14	1946	1946	NUM
ajfa-11077	262	15	-	-	PUNCT
ajfa-11077	262	16	052x	052x	PROPN
ajfa-11077	262	17	2017	2017	NUM
ajfa-11077	262	18	,	,	PUNCT
ajfa-11077	262	19	vol	vol	NOUN
ajfa-11077	262	20	.	.	NOUN
ajfa-11077	262	21	9	9	NUM
ajfa-11077	262	22	,	,	PUNCT
ajfa-11077	262	23	no	no	INTJ
ajfa-11077	262	24	.	.	NOUN
ajfa-11077	262	25	1	1	NUM
ajfa-11077	262	26	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	262	27	292	292	NUM
ajfa-11077	262	28	table	table	NOUN
ajfa-11077	262	29	4	4	NUM
ajfa-11077	262	30	.	.	PUNCT
ajfa-11077	262	31	regression	regression	NOUN
ajfa-11077	262	32	on	on	ADP
ajfa-11077	262	33	roa	roa	PROPN
ajfa-11077	262	34	(	(	PUNCT
ajfa-11077	262	35	continued	continued	ADJ
ajfa-11077	262	36	)	)	PUNCT
ajfa-11077	262	37	company	company	NOUN
ajfa-11077	262	38	first	first	ADJ
ajfa-11077	262	39	hotel	hotel	PROPN
ajfa-11077	262	40	company	company	PROPN
ajfa-11077	262	41	ltd	ltd	PROPN
ajfa-11077	262	42	.	.	PROPN
ajfa-11077	262	43	(	(	PUNCT
ajfa-11077	262	44	2706	2706	NUM
ajfa-11077	262	45	)	)	PUNCT
ajfa-11077	262	46	pleasant	pleasant	ADJ
ajfa-11077	262	47	hotels	hotel	NOUN
ajfa-11077	262	48	international	international	ADJ
ajfa-11077	262	49	inc.(2718	inc.(2718	PROPN
ajfa-11077	262	50	)	)	PUNCT
ajfa-11077	262	51	chateau	chateau	NOUN
ajfa-11077	262	52	international	international	PROPN
ajfa-11077	262	53	development	development	PROPN
ajfa-11077	262	54	co.	co.	PROPN
ajfa-11077	262	55	,	,	PUNCT
ajfa-11077	262	56	ltd	ltd	PROPN
ajfa-11077	262	57	.	.	PROPN
ajfa-11077	263	1	(	(	PUNCT
ajfa-11077	263	2	2722	2722	NUM
ajfa-11077	263	3	)	)	PUNCT
ajfa-11077	263	4	variables	variable	NOUN
ajfa-11077	263	5	model	model	NOUN
ajfa-11077	263	6	i	i	PRON
ajfa-11077	263	7	model	model	PROPN
ajfa-11077	263	8	ii	ii	PROPN
ajfa-11077	263	9	model	model	NOUN
ajfa-11077	263	10	i	i	PRON
ajfa-11077	263	11	model	model	PROPN
ajfa-11077	263	12	ii	ii	PROPN
ajfa-11077	263	13	model	model	NOUN
ajfa-11077	263	14	i	i	PRON
ajfa-11077	263	15	model	model	VERB
ajfa-11077	263	16	ii	ii	PROPN
ajfa-11077	263	17	const	const	PROPN
ajfa-11077	263	18	.	.	PUNCT
ajfa-11077	264	1	-8.17	-8.17	PROPN
ajfa-11077	264	2	(	(	PUNCT
ajfa-11077	264	3	15.86	15.86	NUM
ajfa-11077	264	4	)	)	PUNCT
ajfa-11077	264	5	-14.17	-14.17	PROPN
ajfa-11077	264	6	*	*	PUNCT
ajfa-11077	264	7	37.34	37.34	NUM
ajfa-11077	264	8	(	(	PUNCT
ajfa-11077	264	9	58.01	58.01	NUM
ajfa-11077	264	10	)	)	PUNCT
ajfa-11077	264	11	0.71	0.71	NUM
ajfa-11077	264	12	*	*	PUNCT
ajfa-11077	264	13	*	*	PUNCT
ajfa-11077	264	14	*	*	PUNCT
ajfa-11077	264	15	(	(	PUNCT
ajfa-11077	264	16	0.12	0.12	NUM
ajfa-11077	264	17	)	)	PUNCT
ajfa-11077	264	18	-1957	-1957	NOUN
ajfa-11077	264	19	*	*	NOUN
ajfa-11077	264	20	*	*	PUNCT
ajfa-11077	264	21	(	(	PUNCT
ajfa-11077	264	22	542.5	542.5	NUM
ajfa-11077	264	23	)	)	PUNCT
ajfa-11077	264	24	0.29	0.29	NUM
ajfa-11077	264	25	(	(	PUNCT
ajfa-11077	264	26	0.85	0.85	NUM
ajfa-11077	264	27	)	)	PUNCT
ajfa-11077	264	28	rmrf	rmrf	NOUN
ajfa-11077	264	29	0.01	0.01	NUM
ajfa-11077	264	30	(	(	PUNCT
ajfa-11077	264	31	0.01	0.01	NUM
ajfa-11077	264	32	)	)	PUNCT
ajfa-11077	264	33	-0.12	-0.12	NUM
ajfa-11077	264	34	(	(	PUNCT
ajfa-11077	264	35	0.10	0.10	NUM
ajfa-11077	264	36	)	)	PUNCT
ajfa-11077	264	37	-0.06	-0.06	NUM
ajfa-11077	264	38	*	*	PROPN
ajfa-11077	264	39	*	*	PUNCT
ajfa-11077	264	40	(	(	PUNCT
ajfa-11077	264	41	0.03	0.03	NUM
ajfa-11077	264	42	)	)	PUNCT
ajfa-11077	264	43	3.33	3.33	NUM
ajfa-11077	264	44	*	*	PUNCT
ajfa-11077	264	45	*	*	PUNCT
ajfa-11077	264	46	*	*	PUNCT
ajfa-11077	264	47	(	(	PUNCT
ajfa-11077	264	48	0.79	0.79	NUM
ajfa-11077	264	49	)	)	PUNCT
ajfa-11077	264	50	usd	usd	NOUN
ajfa-11077	264	51	0.06	0.06	NUM
ajfa-11077	264	52	(	(	PUNCT
ajfa-11077	264	53	0.05	0.05	NUM
ajfa-11077	264	54	)	)	PUNCT
ajfa-11077	264	55	1.54	1.54	NUM
ajfa-11077	264	56	(	(	PUNCT
ajfa-11077	264	57	1.07	1.07	NUM
ajfa-11077	264	58	)	)	PUNCT
ajfa-11077	264	59	0.66	0.66	NUM
ajfa-11077	264	60	*	*	PUNCT
ajfa-11077	264	61	*	*	PUNCT
ajfa-11077	264	62	*	*	PUNCT
ajfa-11077	264	63	(	(	PUNCT
ajfa-11077	264	64	0.15	0.15	NUM
ajfa-11077	264	65	)	)	PUNCT
ajfa-11077	264	66	-13.15	-13.15	PROPN
ajfa-11077	264	67	*	*	PUNCT
ajfa-11077	264	68	*	*	PUNCT
ajfa-11077	264	69	(	(	PUNCT
ajfa-11077	264	70	4.20	4.20	NUM
ajfa-11077	264	71	)	)	PUNCT
ajfa-11077	264	72	jpy	jpy	NOUN
ajfa-11077	264	73	0.01	0.01	NUM
ajfa-11077	264	74	(	(	PUNCT
ajfa-11077	264	75	0.01	0.01	NUM
ajfa-11077	264	76	)	)	PUNCT
ajfa-11077	264	77	-0.30	-0.30	NOUN
ajfa-11077	264	78	(	(	PUNCT
ajfa-11077	264	79	0.12	0.12	NUM
ajfa-11077	264	80	)	)	PUNCT
ajfa-11077	264	81	3.14	3.14	NUM
ajfa-11077	264	82	*	*	PUNCT
ajfa-11077	264	83	*	*	PUNCT
ajfa-11077	264	84	*	*	PUNCT
ajfa-11077	264	85	(	(	PUNCT
ajfa-11077	264	86	0.76	0.76	NUM
ajfa-11077	264	87	)	)	PUNCT
ajfa-11077	264	88	cny	cny	NOUN
ajfa-11077	264	89	-0.05	-0.05	X
ajfa-11077	264	90	(	(	PUNCT
ajfa-11077	264	91	0.06	0.06	NUM
ajfa-11077	264	92	)	)	PUNCT
ajfa-11077	264	93	-1.36	-1.36	NUM
ajfa-11077	264	94	(	(	PUNCT
ajfa-11077	264	95	0.72	0.72	NUM
ajfa-11077	264	96	)	)	PUNCT
ajfa-11077	264	97	-0.78	-0.78	NOUN
ajfa-11077	264	98	*	*	PUNCT
ajfa-11077	264	99	*	*	PUNCT
ajfa-11077	264	100	*	*	PUNCT
ajfa-11077	264	101	(	(	PUNCT
ajfa-11077	264	102	0.14	0.14	NUM
ajfa-11077	264	103	)	)	PUNCT
ajfa-11077	264	104	12.03	12.03	NUM
ajfa-11077	264	105	*	*	PUNCT
ajfa-11077	264	106	*	*	PUNCT
ajfa-11077	264	107	(	(	PUNCT
ajfa-11077	264	108	3.78	3.78	NUM
ajfa-11077	264	109	)	)	PUNCT
ajfa-11077	264	110	eur	eur	NOUN
ajfa-11077	264	111	0.00	0.00	NUM
ajfa-11077	264	112	(	(	PUNCT
ajfa-11077	264	113	0.02	0.02	NUM
ajfa-11077	264	114	)	)	PUNCT
ajfa-11077	264	115	-0.29	-0.29	NOUN
ajfa-11077	264	116	(	(	PUNCT
ajfa-11077	264	117	0.20	0.20	NUM
ajfa-11077	264	118	)	)	PUNCT
ajfa-11077	264	119	-0.16	-0.16	PROPN
ajfa-11077	264	120	*	*	PUNCT
ajfa-11077	264	121	*	*	PUNCT
ajfa-11077	264	122	*	*	PUNCT
ajfa-11077	264	123	(	(	PUNCT
ajfa-11077	264	124	0.04	0.04	NUM
ajfa-11077	264	125	)	)	PUNCT
ajfa-11077	264	126	7.60	7.60	NUM
ajfa-11077	264	127	*	*	PUNCT
ajfa-11077	264	128	*	*	PUNCT
ajfa-11077	264	129	(	(	PUNCT
ajfa-11077	264	130	1.96	1.96	NUM
ajfa-11077	264	131	)	)	PUNCT
ajfa-11077	264	132	krw	krw	PROPN
ajfa-11077	264	133	-0.00	-0.00	NUM
ajfa-11077	264	134	(	(	PUNCT
ajfa-11077	264	135	0.02	0.02	NUM
ajfa-11077	264	136	)	)	PUNCT
ajfa-11077	264	137	0.23	0.23	NUM
ajfa-11077	264	138	(	(	PUNCT
ajfa-11077	264	139	0.23	0.23	NUM
ajfa-11077	264	140	)	)	PUNCT
ajfa-11077	264	141	-5.31	-5.31	X
ajfa-11077	264	142	*	*	PUNCT
ajfa-11077	264	143	*	*	PUNCT
ajfa-11077	264	144	(	(	PUNCT
ajfa-11077	264	145	1.49	1.49	NUM
ajfa-11077	264	146	)	)	PUNCT
ajfa-11077	264	147	gbp	gbp	NOUN
ajfa-11077	264	148	-0.02	-0.02	NUM
ajfa-11077	264	149	(	(	PUNCT
ajfa-11077	264	150	0.03	0.03	NUM
ajfa-11077	264	151	)	)	PUNCT
ajfa-11077	264	152	-0.26	-0.26	NOUN
ajfa-11077	264	153	(	(	PUNCT
ajfa-11077	264	154	0.38	0.38	NUM
ajfa-11077	264	155	)	)	PUNCT
ajfa-11077	264	156	-6.44	-6.44	NOUN
ajfa-11077	264	157	*	*	PUNCT
ajfa-11077	264	158	*	*	PUNCT
ajfa-11077	264	159	*	*	PUNCT
ajfa-11077	264	160	(	(	PUNCT
ajfa-11077	264	161	1.50	1.50	NUM
ajfa-11077	264	162	)	)	PUNCT
ajfa-11077	264	163	sgd	sgd	PROPN
ajfa-11077	264	164	-0.05	-0.05	X
ajfa-11077	264	165	(	(	PUNCT
ajfa-11077	264	166	0.07	0.07	NUM
ajfa-11077	264	167	)	)	PUNCT
ajfa-11077	264	168	-0.66	-0.66	NOUN
ajfa-11077	264	169	(	(	PUNCT
ajfa-11077	264	170	0.43	0.43	NUM
ajfa-11077	264	171	)	)	PUNCT
ajfa-11077	264	172	-0.66	-0.66	NOUN
ajfa-11077	264	173	*	*	NOUN
ajfa-11077	264	174	*	*	PUNCT
ajfa-11077	264	175	(	(	PUNCT
ajfa-11077	264	176	0.11	0.11	NUM
ajfa-11077	264	177	)	)	PUNCT
ajfa-11077	264	178	1.41	1.41	NUM
ajfa-11077	264	179	(	(	PUNCT
ajfa-11077	264	180	0.74	0.74	NUM
ajfa-11077	264	181	)	)	PUNCT
ajfa-11077	264	182	1.89	1.89	NUM
ajfa-11077	264	183	*	*	PUNCT
ajfa-11077	264	184	*	*	PUNCT
ajfa-11077	264	185	(	(	PUNCT
ajfa-11077	264	186	0.85	0.85	NUM
ajfa-11077	264	187	)	)	PUNCT
ajfa-11077	264	188	aud	aud	NOUN
ajfa-11077	265	1	-0.01	-0.01	NUM
ajfa-11077	265	2	(	(	PUNCT
ajfa-11077	265	3	0.02	0.02	NUM
ajfa-11077	265	4	)	)	PUNCT
ajfa-11077	265	5	0.21	0.21	NUM
ajfa-11077	265	6	(	(	PUNCT
ajfa-11077	265	7	0.13	0.13	NUM
ajfa-11077	265	8	)	)	PUNCT
ajfa-11077	265	9	0.13	0.13	NUM
ajfa-11077	265	10	*	*	PUNCT
ajfa-11077	265	11	*	*	PUNCT
ajfa-11077	265	12	(	(	PUNCT
ajfa-11077	265	13	0.05	0.05	NUM
ajfa-11077	265	14	)	)	PUNCT
ajfa-11077	265	15	-4.36	-4.36	NOUN
ajfa-11077	265	16	*	*	PUNCT
ajfa-11077	265	17	*	*	PUNCT
ajfa-11077	265	18	*	*	PUNCT
ajfa-11077	265	19	(	(	PUNCT
ajfa-11077	265	20	0.91	0.91	NUM
ajfa-11077	265	21	)	)	PUNCT
ajfa-11077	265	22	-0.58	-0.58	NOUN
ajfa-11077	265	23	*	*	PUNCT
ajfa-11077	265	24	(	(	PUNCT
ajfa-11077	265	25	0.29	0.29	NUM
ajfa-11077	265	26	)	)	PUNCT
ajfa-11077	265	27	idr	idr	NOUN
ajfa-11077	265	28	0.03	0.03	NUM
ajfa-11077	265	29	(	(	PUNCT
ajfa-11077	265	30	0.02	0.02	NUM
ajfa-11077	265	31	)	)	PUNCT
ajfa-11077	265	32	0.20	0.20	NUM
ajfa-11077	265	33	(	(	PUNCT
ajfa-11077	265	34	0.08	0.08	NUM
ajfa-11077	265	35	)	)	PUNCT
ajfa-11077	265	36	0.22	0.22	NUM
ajfa-11077	265	37	*	*	PUNCT
ajfa-11077	265	38	*	*	PUNCT
ajfa-11077	265	39	*	*	PUNCT
ajfa-11077	265	40	(	(	PUNCT
ajfa-11077	265	41	0.03	0.03	NUM
ajfa-11077	265	42	)	)	PUNCT
ajfa-11077	265	43	0.59	0.59	NUM
ajfa-11077	265	44	*	*	PUNCT
ajfa-11077	265	45	(	(	PUNCT
ajfa-11077	265	46	0.24	0.24	NUM
ajfa-11077	265	47	)	)	PUNCT
ajfa-11077	265	48	thb	thb	NOUN
ajfa-11077	265	49	0.00	0.00	NUM
ajfa-11077	265	50	(	(	PUNCT
ajfa-11077	265	51	0.04	0.04	NUM
ajfa-11077	265	52	)	)	PUNCT
ajfa-11077	265	53	0.58	0.58	NUM
ajfa-11077	265	54	(	(	PUNCT
ajfa-11077	265	55	0.32	0.32	NUM
ajfa-11077	265	56	)	)	PUNCT
ajfa-11077	265	57	0.55	0.55	NUM
ajfa-11077	265	58	*	*	PUNCT
ajfa-11077	265	59	*	*	PUNCT
ajfa-11077	265	60	*	*	PUNCT
ajfa-11077	265	61	(	(	PUNCT
ajfa-11077	265	62	0.12	0.12	NUM
ajfa-11077	265	63	)	)	PUNCT
ajfa-11077	265	64	-13.42	-13.42	NOUN
ajfa-11077	265	65	*	*	PUNCT
ajfa-11077	265	66	*	*	PUNCT
ajfa-11077	265	67	*	*	PUNCT
ajfa-11077	265	68	(	(	PUNCT
ajfa-11077	265	69	3.22	3.22	NUM
ajfa-11077	265	70	)	)	PUNCT
ajfa-11077	265	71	myr	myr	NOUN
ajfa-11077	265	72	-0.02	-0.02	PROPN
ajfa-11077	265	73	(	(	PUNCT
ajfa-11077	265	74	0.03	0.03	NUM
ajfa-11077	265	75	)	)	PUNCT
ajfa-11077	265	76	-0.06	-0.06	PROPN
ajfa-11077	265	77	(	(	PUNCT
ajfa-11077	265	78	0.16	0.16	NUM
ajfa-11077	265	79	)	)	PUNCT
ajfa-11077	265	80	3.75	3.75	NUM
ajfa-11077	265	81	*	*	PUNCT
ajfa-11077	265	82	*	*	PUNCT
ajfa-11077	265	83	(	(	PUNCT
ajfa-11077	265	84	0.96	0.96	NUM
ajfa-11077	265	85	)	)	PUNCT
ajfa-11077	265	86	php	php	NOUN
ajfa-11077	265	87	-0.04	-0.04	NUM
ajfa-11077	265	88	(	(	PUNCT
ajfa-11077	265	89	0.03	0.03	NUM
ajfa-11077	265	90	)	)	PUNCT
ajfa-11077	265	91	-0.04	-0.04	NUM
ajfa-11077	265	92	*	*	PUNCT
ajfa-11077	265	93	*	*	PUNCT
ajfa-11077	265	94	*	*	PUNCT
ajfa-11077	265	95	(	(	PUNCT
ajfa-11077	265	96	0.01	0.01	NUM
ajfa-11077	265	97	)	)	PUNCT
ajfa-11077	265	98	-1.06	-1.06	NUM
ajfa-11077	265	99	(	(	PUNCT
ajfa-11077	265	100	0.43	0.43	NUM
ajfa-11077	265	101	)	)	PUNCT
ajfa-11077	265	102	18.45	18.45	NUM
ajfa-11077	265	103	*	*	PUNCT
ajfa-11077	265	104	*	*	PUNCT
ajfa-11077	265	105	(	(	PUNCT
ajfa-11077	265	106	4.82	4.82	NUM
ajfa-11077	265	107	)	)	PUNCT
ajfa-11077	265	108	lag1	lag1	NOUN
ajfa-11077	265	109	-1.05	-1.05	NOUN
ajfa-11077	265	110	*	*	PUNCT
ajfa-11077	265	111	*	*	PUNCT
ajfa-11077	265	112	*	*	PUNCT
ajfa-11077	265	113	(	(	PUNCT
ajfa-11077	265	114	0.22	0.22	NUM
ajfa-11077	265	115	)	)	PUNCT
ajfa-11077	265	116	-1.21	-1.21	NOUN
ajfa-11077	265	117	*	*	PUNCT
ajfa-11077	265	118	*	*	PUNCT
ajfa-11077	265	119	*	*	PUNCT
ajfa-11077	265	120	(	(	PUNCT
ajfa-11077	265	121	0.14	0.14	NUM
ajfa-11077	265	122	)	)	PUNCT
ajfa-11077	265	123	-1.90	-1.90	NUM
ajfa-11077	265	124	(	(	PUNCT
ajfa-11077	265	125	0.46	0.46	NUM
ajfa-11077	265	126	)	)	PUNCT
ajfa-11077	265	127	-1.46	-1.46	NOUN
ajfa-11077	265	128	*	*	PUNCT
ajfa-11077	265	129	*	*	PUNCT
ajfa-11077	265	130	*	*	PUNCT
ajfa-11077	265	131	(	(	PUNCT
ajfa-11077	265	132	0.10	0.10	NUM
ajfa-11077	265	133	)	)	PUNCT
ajfa-11077	265	134	lag2	lag2	NOUN
ajfa-11077	265	135	-0.28	-0.28	X
ajfa-11077	265	136	(	(	PUNCT
ajfa-11077	265	137	0.24	0.24	NUM
ajfa-11077	265	138	)	)	PUNCT
ajfa-11077	265	139	-1.46	-1.46	NOUN
ajfa-11077	265	140	(	(	PUNCT
ajfa-11077	265	141	0.44	0.44	NUM
ajfa-11077	265	142	)	)	PUNCT
ajfa-11077	265	143	-1.13	-1.13	NOUN
ajfa-11077	265	144	*	*	PUNCT
ajfa-11077	265	145	*	*	PUNCT
ajfa-11077	265	146	*	*	PUNCT
ajfa-11077	265	147	(	(	PUNCT
ajfa-11077	265	148	0.12	0.12	NUM
ajfa-11077	265	149	)	)	PUNCT
ajfa-11077	265	150	asian	asian	ADJ
ajfa-11077	265	151	journal	journal	NOUN
ajfa-11077	265	152	of	of	ADP
ajfa-11077	265	153	finance	finance	PROPN
ajfa-11077	265	154	&	&	CCONJ
ajfa-11077	265	155	accounting	accounting	PROPN
ajfa-11077	265	156	issn	issn	PROPN
ajfa-11077	265	157	1946	1946	NUM
ajfa-11077	265	158	-	-	PUNCT
ajfa-11077	265	159	052x	052x	PROPN
ajfa-11077	265	160	2017	2017	NUM
ajfa-11077	265	161	,	,	PUNCT
ajfa-11077	265	162	vol	vol	NOUN
ajfa-11077	265	163	.	.	NOUN
ajfa-11077	266	1	9	9	NUM
ajfa-11077	266	2	,	,	PUNCT
ajfa-11077	266	3	no	no	INTJ
ajfa-11077	266	4	.	.	NOUN
ajfa-11077	266	5	1	1	NUM
ajfa-11077	266	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	266	7	293	293	NUM
ajfa-11077	266	8	lag	lag	VERB
ajfa-11077	266	9	3	3	NUM
ajfa-11077	266	10	-0.47	-0.47	PRON
ajfa-11077	266	11	(	(	PUNCT
ajfa-11077	266	12	0.27	0.27	NUM
ajfa-11077	266	13	)	)	PUNCT
ajfa-11077	266	14	-0.98	-0.98	NUM
ajfa-11077	266	15	(	(	PUNCT
ajfa-11077	266	16	0.63	0.63	NUM
ajfa-11077	266	17	)	)	PUNCT
ajfa-11077	266	18	-0.44	-0.44	NOUN
ajfa-11077	266	19	*	*	PUNCT
ajfa-11077	266	20	*	*	PUNCT
ajfa-11077	266	21	*	*	PUNCT
ajfa-11077	266	22	(	(	PUNCT
ajfa-11077	266	23	0.10	0.10	NUM
ajfa-11077	266	24	)	)	PUNCT
ajfa-11077	266	25	lag4	lag4	NOUN
ajfa-11077	266	26	0.34	0.34	NUM
ajfa-11077	266	27	*	*	PUNCT
ajfa-11077	266	28	*	*	PUNCT
ajfa-11077	266	29	*	*	PUNCT
ajfa-11077	266	30	(	(	PUNCT
ajfa-11077	266	31	0.10	0.10	NUM
ajfa-11077	266	32	)	)	PUNCT
ajfa-11077	266	33	-0.30	-0.30	PROPN
ajfa-11077	266	34	*	*	PUNCT
ajfa-11077	266	35	*	*	PUNCT
ajfa-11077	266	36	*	*	PUNCT
ajfa-11077	266	37	(	(	PUNCT
ajfa-11077	266	38	0.07	0.07	NUM
ajfa-11077	266	39	)	)	PUNCT
ajfa-11077	266	40	-0.22	-0.22	NUM
ajfa-11077	266	41	(	(	PUNCT
ajfa-11077	266	42	0.25	0.25	NUM
ajfa-11077	266	43	)	)	PUNCT
ajfa-11077	266	44	size	size	NOUN
ajfa-11077	266	45	0.41	0.41	NUM
ajfa-11077	266	46	(	(	PUNCT
ajfa-11077	266	47	0.72	0.72	NUM
ajfa-11077	266	48	)	)	PUNCT
ajfa-11077	266	49	0.67	0.67	NUM
ajfa-11077	266	50	*	*	PUNCT
ajfa-11077	266	51	(	(	PUNCT
ajfa-11077	266	52	0.34	0.34	NUM
ajfa-11077	266	53	)	)	PUNCT
ajfa-11077	266	54	-1.80	-1.80	X
ajfa-11077	266	55	(	(	PUNCT
ajfa-11077	266	56	2.85	2.85	NUM
ajfa-11077	266	57	)	)	PUNCT
ajfa-11077	266	58	92.79	92.79	NUM
ajfa-11077	266	59	*	*	PUNCT
ajfa-11077	266	60	*	*	PUNCT
ajfa-11077	266	61	(	(	PUNCT
ajfa-11077	266	62	25.69	25.69	NUM
ajfa-11077	266	63	)	)	PUNCT
ajfa-11077	266	64	adj	adj	PROPN
ajfa-11077	266	65	.	.	PROPN
ajfa-11077	266	66	r2	r2	PROPN
ajfa-11077	266	67	0.81	0.81	NUM
ajfa-11077	266	68	0.82	0.82	NUM
ajfa-11077	266	69	0.84	0.84	NUM
ajfa-11077	266	70	0.93	0.93	NUM
ajfa-11077	266	71	0.78	0.78	NUM
ajfa-11077	266	72	0.16	0.16	NUM
ajfa-11077	266	73	obs	ob	NOUN
ajfa-11077	266	74	.	.	PUNCT
ajfa-11077	267	1	32	32	NUM
ajfa-11077	267	2	32	32	NUM
ajfa-11077	267	3	20	20	NUM
ajfa-11077	267	4	20	20	NUM
ajfa-11077	267	5	20	20	NUM
ajfa-11077	267	6	20	20	NUM
ajfa-11077	267	7	table	table	NOUN
ajfa-11077	267	8	4	4	NUM
ajfa-11077	267	9	.	.	PUNCT
ajfa-11077	267	10	regression	regression	NOUN
ajfa-11077	267	11	on	on	ADP
ajfa-11077	267	12	roa	roa	PROPN
ajfa-11077	267	13	(	(	PUNCT
ajfa-11077	267	14	continued	continued	ADJ
ajfa-11077	267	15	)	)	PUNCT
ajfa-11077	267	16	company	company	NOUN
ajfa-11077	267	17	janfusun	janfusun	PROPN
ajfa-11077	267	18	fancyworld	fancyworld	PROPN
ajfa-11077	267	19	corp	corp	PROPN
ajfa-11077	267	20	.	.	PROPN
ajfa-11077	267	21	(	(	PUNCT
ajfa-11077	267	22	5701	5701	NUM
ajfa-11077	267	23	)	)	PUNCT
ajfa-11077	267	24	the	the	DET
ajfa-11077	267	25	landis	landis	PROPN
ajfa-11077	267	26	taipei	taipei	PROPN
ajfa-11077	267	27	hotel	hotel	PROPN
ajfa-11077	267	28	co.	co.	PROPN
ajfa-11077	267	29	,	,	PUNCT
ajfa-11077	267	30	ltd	ltd	PROPN
ajfa-11077	267	31	.	.	PROPN
ajfa-11077	267	32	(	(	PUNCT
ajfa-11077	267	33	5703	5703	NUM
ajfa-11077	267	34	)	)	PUNCT
ajfa-11077	267	35	hotel	hotel	NOUN
ajfa-11077	267	36	royal	royal	NOUN
ajfa-11077	267	37	chihpen(5704	chihpen(5704	PROPN
ajfa-11077	267	38	)	)	PUNCT
ajfa-11077	267	39	variables	variable	NOUN
ajfa-11077	267	40	model	model	NOUN
ajfa-11077	267	41	i	i	PRON
ajfa-11077	267	42	model	model	PROPN
ajfa-11077	267	43	ii	ii	PROPN
ajfa-11077	267	44	model	model	NOUN
ajfa-11077	268	1	i	i	PRON
ajfa-11077	268	2	model	model	PROPN
ajfa-11077	268	3	ii	ii	PROPN
ajfa-11077	268	4	model	model	NOUN
ajfa-11077	268	5	i	i	PRON
ajfa-11077	268	6	model	model	VERB
ajfa-11077	268	7	ii	ii	PROPN
ajfa-11077	268	8	const	const	PROPN
ajfa-11077	268	9	.	.	PUNCT
ajfa-11077	269	1	29.91	29.91	NUM
ajfa-11077	269	2	(	(	PUNCT
ajfa-11077	269	3	30.30	30.30	NUM
ajfa-11077	269	4	)	)	PUNCT
ajfa-11077	269	5	-0.12	-0.12	NUM
ajfa-11077	269	6	(	(	PUNCT
ajfa-11077	269	7	0.18	0.18	NUM
ajfa-11077	269	8	)	)	PUNCT
ajfa-11077	269	9	55.80	55.80	NUM
ajfa-11077	269	10	(	(	PUNCT
ajfa-11077	269	11	50.46	50.46	NUM
ajfa-11077	269	12	)	)	PUNCT
ajfa-11077	269	13	0.13	0.13	NUM
ajfa-11077	269	14	(	(	PUNCT
ajfa-11077	269	15	0.17	0.17	NUM
ajfa-11077	269	16	)	)	PUNCT
ajfa-11077	269	17	32.16	32.16	NUM
ajfa-11077	269	18	*	*	SYM
ajfa-11077	269	19	(	(	PUNCT
ajfa-11077	269	20	19.05	19.05	NUM
ajfa-11077	269	21	)	)	PUNCT
ajfa-11077	269	22	0.00	0.00	NUM
ajfa-11077	269	23	(	(	PUNCT
ajfa-11077	269	24	0.12	0.12	NUM
ajfa-11077	269	25	)	)	PUNCT
ajfa-11077	269	26	rmrf	rmrf	NOUN
ajfa-11077	269	27	0.04	0.04	NUM
ajfa-11077	269	28	(	(	PUNCT
ajfa-11077	269	29	0.05	0.05	NUM
ajfa-11077	269	30	)	)	PUNCT
ajfa-11077	269	31	0.06	0.06	NUM
ajfa-11077	269	32	(	(	PUNCT
ajfa-11077	269	33	0.03	0.03	NUM
ajfa-11077	269	34	)	)	PUNCT
ajfa-11077	269	35	0.07	0.07	NUM
ajfa-11077	269	36	*	*	PUNCT
ajfa-11077	269	37	*	*	PUNCT
ajfa-11077	269	38	*	*	PUNCT
ajfa-11077	269	39	(	(	PUNCT
ajfa-11077	269	40	0.02	0.02	NUM
ajfa-11077	269	41	)	)	PUNCT
ajfa-11077	269	42	0.05	0.05	NUM
ajfa-11077	269	43	*	*	PUNCT
ajfa-11077	269	44	*	*	PUNCT
ajfa-11077	269	45	(	(	PUNCT
ajfa-11077	269	46	0.02	0.02	NUM
ajfa-11077	269	47	)	)	PUNCT
ajfa-11077	269	48	0.03	0.03	NUM
ajfa-11077	269	49	*	*	PUNCT
ajfa-11077	269	50	*	*	PUNCT
ajfa-11077	269	51	(	(	PUNCT
ajfa-11077	269	52	0.01	0.01	NUM
ajfa-11077	269	53	)	)	PUNCT
ajfa-11077	269	54	usd	usd	NOUN
ajfa-11077	269	55	-0.24	-0.24	NOUN
ajfa-11077	269	56	(	(	PUNCT
ajfa-11077	269	57	0.31	0.31	NUM
ajfa-11077	269	58	)	)	PUNCT
ajfa-11077	269	59	0.10	0.10	NUM
ajfa-11077	269	60	(	(	PUNCT
ajfa-11077	269	61	0.24	0.24	NUM
ajfa-11077	269	62	)	)	PUNCT
ajfa-11077	269	63	0.07	0.07	NUM
ajfa-11077	269	64	(	(	PUNCT
ajfa-11077	269	65	0.17	0.17	NUM
ajfa-11077	269	66	)	)	PUNCT
ajfa-11077	269	67	jpy	jpy	PROPN
ajfa-11077	269	68	-0.01	-0.01	NUM
ajfa-11077	269	69	(	(	PUNCT
ajfa-11077	269	70	0.08	0.08	NUM
ajfa-11077	269	71	)	)	PUNCT
ajfa-11077	269	72	-0.11	-0.11	NUM
ajfa-11077	269	73	(	(	PUNCT
ajfa-11077	269	74	0.08	0.08	NUM
ajfa-11077	269	75	)	)	PUNCT
ajfa-11077	269	76	0.07	0.07	NUM
ajfa-11077	269	77	(	(	PUNCT
ajfa-11077	269	78	0.05	0.05	NUM
ajfa-11077	269	79	)	)	PUNCT
ajfa-11077	269	80	cny	cny	NOUN
ajfa-11077	269	81	0.38	0.38	NUM
ajfa-11077	269	82	(	(	PUNCT
ajfa-11077	269	83	0.36	0.36	NUM
ajfa-11077	269	84	)	)	PUNCT
ajfa-11077	269	85	0.10	0.10	NUM
ajfa-11077	269	86	(	(	PUNCT
ajfa-11077	269	87	0.27	0.27	NUM
ajfa-11077	269	88	)	)	PUNCT
ajfa-11077	269	89	0.22	0.22	NUM
ajfa-11077	269	90	(	(	PUNCT
ajfa-11077	269	91	0.19	0.19	NUM
ajfa-11077	269	92	)	)	PUNCT
ajfa-11077	269	93	0.22	0.22	NUM
ajfa-11077	269	94	*	*	PUNCT
ajfa-11077	269	95	*	*	PUNCT
ajfa-11077	269	96	*	*	PUNCT
ajfa-11077	269	97	(	(	PUNCT
ajfa-11077	269	98	0.07	0.07	NUM
ajfa-11077	269	99	)	)	PUNCT
ajfa-11077	269	100	eur	eur	NOUN
ajfa-11077	269	101	0.03	0.03	NUM
ajfa-11077	269	102	(	(	PUNCT
ajfa-11077	269	103	0.12	0.12	NUM
ajfa-11077	269	104	)	)	PUNCT
ajfa-11077	269	105	-0.11	-0.11	NUM
ajfa-11077	269	106	(	(	PUNCT
ajfa-11077	269	107	0.10	0.10	NUM
ajfa-11077	269	108	)	)	PUNCT
ajfa-11077	269	109	-0.12	-0.12	NOUN
ajfa-11077	269	110	*	*	PUNCT
ajfa-11077	269	111	(	(	PUNCT
ajfa-11077	269	112	0.07	0.07	NUM
ajfa-11077	269	113	)	)	PUNCT
ajfa-11077	269	114	0.01	0.01	NUM
ajfa-11077	269	115	(	(	PUNCT
ajfa-11077	269	116	0.07	0.07	NUM
ajfa-11077	269	117	)	)	PUNCT
ajfa-11077	269	118	krw	krw	NOUN
ajfa-11077	269	119	0.08	0.08	NUM
ajfa-11077	269	120	(	(	PUNCT
ajfa-11077	269	121	0.12	0.12	NUM
ajfa-11077	269	122	)	)	PUNCT
ajfa-11077	269	123	0.10	0.10	NUM
ajfa-11077	269	124	*	*	SYM
ajfa-11077	269	125	(	(	PUNCT
ajfa-11077	269	126	0.05	0.05	NUM
ajfa-11077	269	127	)	)	PUNCT
ajfa-11077	269	128	0.07	0.07	NUM
ajfa-11077	269	129	(	(	PUNCT
ajfa-11077	269	130	0.09	0.09	NUM
ajfa-11077	269	131	)	)	PUNCT
ajfa-11077	269	132	0.27	0.27	NUM
ajfa-11077	269	133	*	*	PUNCT
ajfa-11077	269	134	*	*	PUNCT
ajfa-11077	269	135	*	*	PUNCT
ajfa-11077	269	136	(	(	PUNCT
ajfa-11077	269	137	0.07	0.07	NUM
ajfa-11077	269	138	)	)	PUNCT
ajfa-11077	269	139	0.17	0.17	NUM
ajfa-11077	269	140	*	*	PUNCT
ajfa-11077	269	141	*	*	PUNCT
ajfa-11077	269	142	*	*	PUNCT
ajfa-11077	269	143	(	(	PUNCT
ajfa-11077	269	144	0.04	0.04	NUM
ajfa-11077	269	145	)	)	PUNCT
ajfa-11077	269	146	gbp	gbp	NOUN
ajfa-11077	269	147	-0.24	-0.24	NOUN
ajfa-11077	269	148	(	(	PUNCT
ajfa-11077	269	149	0.15	0.15	NUM
ajfa-11077	269	150	)	)	PUNCT
ajfa-11077	269	151	-0.16	-0.16	PROPN
ajfa-11077	270	1	*	*	PUNCT
ajfa-11077	270	2	*	*	PUNCT
ajfa-11077	270	3	(	(	PUNCT
ajfa-11077	270	4	0.06	0.06	NUM
ajfa-11077	270	5	)	)	PUNCT
ajfa-11077	270	6	0.00	0.00	NUM
ajfa-11077	270	7	(	(	PUNCT
ajfa-11077	270	8	0.10	0.10	NUM
ajfa-11077	270	9	)	)	PUNCT
ajfa-11077	270	10	-0.09	-0.09	NUM
ajfa-11077	270	11	(	(	PUNCT
ajfa-11077	270	12	0.07	0.07	NUM
ajfa-11077	270	13	)	)	PUNCT
ajfa-11077	270	14	sgd	sgd	PROPN
ajfa-11077	270	15	0.29	0.29	NUM
ajfa-11077	270	16	(	(	PUNCT
ajfa-11077	270	17	0.37	0.37	NUM
ajfa-11077	270	18	)	)	PUNCT
ajfa-11077	270	19	-0.05	-0.05	NOUN
ajfa-11077	270	20	(	(	PUNCT
ajfa-11077	270	21	0.24	0.24	NUM
ajfa-11077	270	22	)	)	PUNCT
ajfa-11077	270	23	-0.31	-0.31	PROPN
ajfa-11077	270	24	*	*	PUNCT
ajfa-11077	270	25	(	(	PUNCT
ajfa-11077	270	26	0.18	0.18	NUM
ajfa-11077	270	27	)	)	PUNCT
ajfa-11077	270	28	-0.29	-0.29	NOUN
ajfa-11077	270	29	*	*	PUNCT
ajfa-11077	270	30	*	*	PUNCT
ajfa-11077	270	31	*	*	PUNCT
ajfa-11077	270	32	(	(	PUNCT
ajfa-11077	270	33	0.09	0.09	NUM
ajfa-11077	270	34	)	)	PUNCT
ajfa-11077	270	35	aud	aud	NOUN
ajfa-11077	270	36	-0.10	-0.10	NUM
ajfa-11077	270	37	(	(	PUNCT
ajfa-11077	270	38	0.12	0.12	NUM
ajfa-11077	270	39	)	)	PUNCT
ajfa-11077	270	40	0.22	0.22	NUM
ajfa-11077	270	41	*	*	PUNCT
ajfa-11077	270	42	*	*	PUNCT
ajfa-11077	270	43	(	(	PUNCT
ajfa-11077	270	44	0.09	0.09	NUM
ajfa-11077	270	45	)	)	PUNCT
ajfa-11077	270	46	0.20	0.20	NUM
ajfa-11077	270	47	*	*	PUNCT
ajfa-11077	270	48	*	*	PUNCT
ajfa-11077	270	49	*	*	PUNCT
ajfa-11077	270	50	(	(	PUNCT
ajfa-11077	270	51	0.06	0.06	NUM
ajfa-11077	270	52	)	)	PUNCT
ajfa-11077	270	53	0.02	0.02	NUM
ajfa-11077	270	54	(	(	PUNCT
ajfa-11077	270	55	0.06	0.06	NUM
ajfa-11077	270	56	)	)	PUNCT
ajfa-11077	270	57	idr	idr	NOUN
ajfa-11077	270	58	0.08	0.08	NUM
ajfa-11077	270	59	(	(	PUNCT
ajfa-11077	270	60	0.11	0.11	NUM
ajfa-11077	270	61	)	)	PUNCT
ajfa-11077	270	62	-0.02	-0.02	NUM
ajfa-11077	270	63	(	(	PUNCT
ajfa-11077	270	64	0.06	0.06	NUM
ajfa-11077	270	65	)	)	PUNCT
ajfa-11077	270	66	-0.01	-0.01	NUM
ajfa-11077	270	67	(	(	PUNCT
ajfa-11077	270	68	0.04	0.04	NUM
ajfa-11077	270	69	)	)	PUNCT
ajfa-11077	270	70	asian	asian	ADJ
ajfa-11077	270	71	journal	journal	NOUN
ajfa-11077	270	72	of	of	ADP
ajfa-11077	270	73	finance	finance	PROPN
ajfa-11077	270	74	&	&	CCONJ
ajfa-11077	270	75	accounting	accounting	PROPN
ajfa-11077	270	76	issn	issn	PROPN
ajfa-11077	270	77	1946	1946	NUM
ajfa-11077	270	78	-	-	PUNCT
ajfa-11077	270	79	052x	052x	PROPN
ajfa-11077	270	80	2017	2017	NUM
ajfa-11077	270	81	,	,	PUNCT
ajfa-11077	270	82	vol	vol	NOUN
ajfa-11077	270	83	.	.	NOUN
ajfa-11077	271	1	9	9	NUM
ajfa-11077	271	2	,	,	PUNCT
ajfa-11077	271	3	no	no	INTJ
ajfa-11077	271	4	.	.	NOUN
ajfa-11077	271	5	1	1	NUM
ajfa-11077	271	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	271	7	294	294	NUM
ajfa-11077	271	8	thb	thb	PROPN
ajfa-11077	271	9	-0.21	-0.21	PROPN
ajfa-11077	271	10	(	(	PUNCT
ajfa-11077	271	11	0.18	0.18	NUM
ajfa-11077	271	12	)	)	PUNCT
ajfa-11077	271	13	-0.12	-0.12	NUM
ajfa-11077	271	14	(	(	PUNCT
ajfa-11077	271	15	0.12	0.12	NUM
ajfa-11077	271	16	)	)	PUNCT
ajfa-11077	271	17	-0.20	-0.20	NOUN
ajfa-11077	271	18	*	*	PUNCT
ajfa-11077	271	19	*	*	PUNCT
ajfa-11077	271	20	(	(	PUNCT
ajfa-11077	271	21	0.08	0.08	NUM
ajfa-11077	271	22	)	)	PUNCT
ajfa-11077	271	23	0.00	0.00	NUM
ajfa-11077	271	24	(	(	PUNCT
ajfa-11077	271	25	0.09	0.09	NUM
ajfa-11077	271	26	)	)	PUNCT
ajfa-11077	271	27	myr	myr	NOUN
ajfa-11077	271	28	0.06	0.06	PROPN
ajfa-11077	271	29	(	(	PUNCT
ajfa-11077	271	30	0.17	0.17	NUM
ajfa-11077	271	31	)	)	PUNCT
ajfa-11077	271	32	-0.17	-0.17	NOUN
ajfa-11077	271	33	(	(	PUNCT
ajfa-11077	271	34	0.13	0.13	NUM
ajfa-11077	271	35	)	)	PUNCT
ajfa-11077	271	36	0.04	0.04	NUM
ajfa-11077	271	37	(	(	PUNCT
ajfa-11077	271	38	0.10	0.10	NUM
ajfa-11077	271	39	)	)	PUNCT
ajfa-11077	271	40	php	php	NOUN
ajfa-11077	271	41	0.06	0.06	NUM
ajfa-11077	271	42	(	(	PUNCT
ajfa-11077	271	43	0.15	0.15	NUM
ajfa-11077	271	44	)	)	PUNCT
ajfa-11077	271	45	-0.02	-0.02	NUM
ajfa-11077	271	46	(	(	PUNCT
ajfa-11077	271	47	0.10	0.10	NUM
ajfa-11077	271	48	)	)	PUNCT
ajfa-11077	271	49	-0.10	-0.10	NUM
ajfa-11077	271	50	(	(	PUNCT
ajfa-11077	271	51	0.07	0.07	NUM
ajfa-11077	271	52	)	)	PUNCT
ajfa-11077	271	53	lag1	lag1	NOUN
ajfa-11077	271	54	-0.65	-0.65	X
ajfa-11077	271	55	*	*	PUNCT
ajfa-11077	271	56	*	*	PUNCT
ajfa-11077	271	57	(	(	PUNCT
ajfa-11077	271	58	0.28	0.28	NUM
ajfa-11077	271	59	)	)	PUNCT
ajfa-11077	271	60	-0.64	-0.64	NOUN
ajfa-11077	271	61	*	*	PUNCT
ajfa-11077	271	62	*	*	PUNCT
ajfa-11077	271	63	*	*	PUNCT
ajfa-11077	271	64	(	(	PUNCT
ajfa-11077	271	65	0.16	0.16	NUM
ajfa-11077	271	66	)	)	PUNCT
ajfa-11077	271	67	-0.77	-0.77	NOUN
ajfa-11077	271	68	*	*	PUNCT
ajfa-11077	271	69	*	*	PUNCT
ajfa-11077	271	70	*	*	PUNCT
ajfa-11077	271	71	(	(	PUNCT
ajfa-11077	271	72	0.12	0.12	NUM
ajfa-11077	271	73	)	)	PUNCT
ajfa-11077	271	74	-0.77	-0.77	NOUN
ajfa-11077	271	75	*	*	PUNCT
ajfa-11077	271	76	*	*	PUNCT
ajfa-11077	271	77	*	*	PUNCT
ajfa-11077	271	78	(	(	PUNCT
ajfa-11077	271	79	0.09	0.09	NUM
ajfa-11077	271	80	)	)	PUNCT
ajfa-11077	271	81	-1.08	-1.08	NOUN
ajfa-11077	271	82	*	*	PUNCT
ajfa-11077	271	83	*	*	PUNCT
ajfa-11077	271	84	*	*	PUNCT
ajfa-11077	271	85	(	(	PUNCT
ajfa-11077	271	86	0.15	0.15	NUM
ajfa-11077	271	87	)	)	PUNCT
ajfa-11077	271	88	-0.99	-0.99	NOUN
ajfa-11077	271	89	*	*	PUNCT
ajfa-11077	271	90	*	*	PUNCT
ajfa-11077	271	91	*	*	PUNCT
ajfa-11077	271	92	(	(	PUNCT
ajfa-11077	271	93	0.09	0.09	NUM
ajfa-11077	271	94	)	)	PUNCT
ajfa-11077	271	95	lag2	lag2	NOUN
ajfa-11077	271	96	-0.31	-0.31	NUM
ajfa-11077	271	97	(	(	PUNCT
ajfa-11077	271	98	0.36	0.36	NUM
ajfa-11077	271	99	)	)	PUNCT
ajfa-11077	271	100	-0.31	-0.31	NOUN
ajfa-11077	271	101	*	*	PUNCT
ajfa-11077	271	102	(	(	PUNCT
ajfa-11077	271	103	0.16	0.16	NUM
ajfa-11077	271	104	)	)	PUNCT
ajfa-11077	271	105	-0.32	-0.32	VERB
ajfa-11077	271	106	*	*	PROPN
ajfa-11077	271	107	*	*	PUNCT
ajfa-11077	271	108	(	(	PUNCT
ajfa-11077	271	109	0.14	0.14	NUM
ajfa-11077	271	110	)	)	PUNCT
ajfa-11077	271	111	-0.35	-0.35	NOUN
ajfa-11077	271	112	*	*	PUNCT
ajfa-11077	271	113	*	*	PUNCT
ajfa-11077	271	114	*	*	PUNCT
ajfa-11077	271	115	(	(	PUNCT
ajfa-11077	271	116	0.09	0.09	NUM
ajfa-11077	271	117	)	)	PUNCT
ajfa-11077	271	118	-0.83	-0.83	NOUN
ajfa-11077	271	119	*	*	PUNCT
ajfa-11077	271	120	*	*	PUNCT
ajfa-11077	271	121	*	*	PUNCT
ajfa-11077	271	122	(	(	PUNCT
ajfa-11077	271	123	0.18	0.18	NUM
ajfa-11077	271	124	)	)	PUNCT
ajfa-11077	271	125	-0.66	-0.66	NOUN
ajfa-11077	271	126	*	*	NOUN
ajfa-11077	271	127	*	*	PUNCT
ajfa-11077	271	128	*	*	PUNCT
ajfa-11077	271	129	(	(	PUNCT
ajfa-11077	271	130	0.12	0.12	NUM
ajfa-11077	271	131	)	)	PUNCT
ajfa-11077	271	132	lag	lag	VERB
ajfa-11077	271	133	3	3	NUM
ajfa-11077	271	134	0.09	0.09	NUM
ajfa-11077	271	135	(	(	PUNCT
ajfa-11077	271	136	0.37	0.37	NUM
ajfa-11077	271	137	)	)	PUNCT
ajfa-11077	271	138	0.01	0.01	NUM
ajfa-11077	271	139	(	(	PUNCT
ajfa-11077	271	140	0.13	0.13	NUM
ajfa-11077	271	141	)	)	PUNCT
ajfa-11077	271	142	-0.71	-0.71	NOUN
ajfa-11077	271	143	*	*	PUNCT
ajfa-11077	271	144	*	*	PUNCT
ajfa-11077	271	145	*	*	PUNCT
ajfa-11077	271	146	(	(	PUNCT
ajfa-11077	271	147	0.19	0.19	NUM
ajfa-11077	271	148	)	)	PUNCT
ajfa-11077	271	149	-0.56	-0.56	NOUN
ajfa-11077	271	150	*	*	X
ajfa-11077	271	151	*	*	PUNCT
ajfa-11077	271	152	*	*	PUNCT
ajfa-11077	271	153	(	(	PUNCT
ajfa-11077	271	154	0.09	0.09	NUM
ajfa-11077	271	155	)	)	PUNCT
ajfa-11077	271	156	lag4	lag4	NOUN
ajfa-11077	271	157	0.14	0.14	NUM
ajfa-11077	271	158	(	(	PUNCT
ajfa-11077	271	159	0.26	0.26	NUM
ajfa-11077	271	160	)	)	PUNCT
ajfa-11077	271	161	-0.07	-0.07	X
ajfa-11077	271	162	(	(	PUNCT
ajfa-11077	271	163	0.11	0.11	NUM
ajfa-11077	271	164	)	)	PUNCT
ajfa-11077	271	165	-0.11	-0.11	NOUN
ajfa-11077	271	166	(	(	PUNCT
ajfa-11077	271	167	0.16	0.16	NUM
ajfa-11077	271	168	)	)	PUNCT
ajfa-11077	271	169	size	size	NOUN
ajfa-11077	271	170	-1.35	-1.35	NUM
ajfa-11077	271	171	(	(	PUNCT
ajfa-11077	271	172	1.36	1.36	NUM
ajfa-11077	271	173	)	)	PUNCT
ajfa-11077	271	174	-2.68	-2.68	NOUN
ajfa-11077	271	175	(	(	PUNCT
ajfa-11077	271	176	2.41	2.41	NUM
ajfa-11077	271	177	)	)	PUNCT
ajfa-11077	271	178	-1.58	-1.58	NOUN
ajfa-11077	271	179	*	*	PUNCT
ajfa-11077	271	180	(	(	PUNCT
ajfa-11077	271	181	0.93	0.93	NUM
ajfa-11077	271	182	)	)	PUNCT
ajfa-11077	271	183	adj	adj	PROPN
ajfa-11077	271	184	.	.	PROPN
ajfa-11077	271	185	r2	r2	PROPN
ajfa-11077	271	186	0.07	0.07	NUM
ajfa-11077	271	187	0.39	0.39	NUM
ajfa-11077	271	188	0.59	0.59	NUM
ajfa-11077	271	189	0.63	0.63	NUM
ajfa-11077	271	190	0.75	0.75	NUM
ajfa-11077	271	191	0.76	0.76	NUM
ajfa-11077	271	192	obs	ob	NOUN
ajfa-11077	271	193	.	.	PUNCT
ajfa-11077	272	1	32	32	NUM
ajfa-11077	272	2	32	32	NUM
ajfa-11077	272	3	58	58	NUM
ajfa-11077	272	4	58	58	NUM
ajfa-11077	272	5	58	58	NUM
ajfa-11077	272	6	59	59	NUM
ajfa-11077	272	7	in	in	ADP
ajfa-11077	272	8	table	table	NOUN
ajfa-11077	272	9	4	4	NUM
ajfa-11077	272	10	,	,	PUNCT
ajfa-11077	272	11	almost	almost	ADV
ajfa-11077	272	12	all	all	PRON
ajfa-11077	272	13	estimates	estimate	NOUN
ajfa-11077	272	14	of	of	ADP
ajfa-11077	272	15	the	the	DET
ajfa-11077	272	16	lagged	lag	VERB
ajfa-11077	272	17	variables	variable	NOUN
ajfa-11077	272	18	are	be	AUX
ajfa-11077	272	19	significant	significant	ADJ
ajfa-11077	272	20	and	and	CCONJ
ajfa-11077	272	21	negative	negative	ADJ
ajfa-11077	272	22	,	,	PUNCT
ajfa-11077	272	23	such	such	ADJ
ajfa-11077	272	24	as	as	ADP
ajfa-11077	272	25	,	,	PUNCT
ajfa-11077	272	26	leofoo	leofoo	PROPN
ajfa-11077	272	27	development	development	PROPN
ajfa-11077	272	28	co.	co.	PROPN
ajfa-11077	272	29	,	,	PUNCT
ajfa-11077	272	30	ltd	ltd	PROPN
ajfa-11077	272	31	.	.	PROPN
ajfa-11077	272	32	(	(	PUNCT
ajfa-11077	272	33	2705	2705	NUM
ajfa-11077	272	34	)	)	PUNCT
ajfa-11077	272	35	,	,	PUNCT
ajfa-11077	272	36	formosa	formosa	PROPN
ajfa-11077	272	37	international	international	PROPN
ajfa-11077	272	38	hotels	hotel	NOUN
ajfa-11077	272	39	corporation	corporation	NOUN
ajfa-11077	272	40	(	(	PUNCT
ajfa-11077	272	41	2707	2707	NUM
ajfa-11077	272	42	)	)	PUNCT
ajfa-11077	272	43	,	,	PUNCT
ajfa-11077	272	44	janfusun	janfusun	PROPN
ajfa-11077	272	45	fancyworld	fancyworld	PROPN
ajfa-11077	272	46	corp	corp	PROPN
ajfa-11077	272	47	.	.	PROPN
ajfa-11077	272	48	(	(	PUNCT
ajfa-11077	272	49	5701	5701	NUM
ajfa-11077	272	50	)	)	PUNCT
ajfa-11077	272	51	,	,	PUNCT
ajfa-11077	272	52	the	the	DET
ajfa-11077	272	53	landis	landis	PROPN
ajfa-11077	272	54	taipei	taipei	PROPN
ajfa-11077	272	55	hotel	hotel	PROPN
ajfa-11077	272	56	co.	co.	PROPN
ajfa-11077	272	57	,	,	PUNCT
ajfa-11077	272	58	ltd	ltd	PROPN
ajfa-11077	272	59	.	.	PROPN
ajfa-11077	272	60	(	(	PUNCT
ajfa-11077	272	61	5703	5703	NUM
ajfa-11077	272	62	)	)	PUNCT
ajfa-11077	272	63	,	,	PUNCT
ajfa-11077	272	64	and	and	CCONJ
ajfa-11077	272	65	hotel	hotel	NOUN
ajfa-11077	272	66	royal	royal	ADJ
ajfa-11077	272	67	chihpen(5704).it	chihpen(5704).it	PROPN
ajfa-11077	272	68	implies	imply	VERB
ajfa-11077	272	69	that	that	SCONJ
ajfa-11077	272	70	those	those	DET
ajfa-11077	272	71	road1	road1	NOUN
ajfa-11077	272	72	are	be	AUX
ajfa-11077	272	73	mean	mean	ADJ
ajfa-11077	272	74	-	-	PUNCT
ajfa-11077	272	75	reverting	revert	VERB
ajfa-11077	272	76	.	.	PUNCT
ajfa-11077	273	1	as	as	SCONJ
ajfa-11077	273	2	the	the	DET
ajfa-11077	273	3	estimates	estimate	NOUN
ajfa-11077	273	4	of	of	ADP
ajfa-11077	273	5	third	third	ADV
ajfa-11077	273	6	-	-	PUNCT
ajfa-11077	273	7	lagged	lag	VERB
ajfa-11077	273	8	variables	variable	NOUN
ajfa-11077	273	9	are	be	AUX
ajfa-11077	273	10	also	also	ADV
ajfa-11077	273	11	significant	significant	ADJ
ajfa-11077	273	12	,	,	PUNCT
ajfa-11077	273	13	then	then	ADV
ajfa-11077	273	14	we	we	PRON
ajfa-11077	273	15	can	can	AUX
ajfa-11077	273	16	conclude	conclude	VERB
ajfa-11077	273	17	that	that	SCONJ
ajfa-11077	273	18	there	there	PRON
ajfa-11077	273	19	is	be	VERB
ajfa-11077	273	20	a	a	DET
ajfa-11077	273	21	seasonal	seasonal	ADJ
ajfa-11077	273	22	effect	effect	NOUN
ajfa-11077	273	23	on	on	ADP
ajfa-11077	273	24	the	the	DET
ajfa-11077	273	25	company	company	NOUN
ajfa-11077	273	26	’s	’s	PART
ajfa-11077	273	27	roa	roa	NOUN
ajfa-11077	273	28	.	.	PUNCT
ajfa-11077	274	1	moreover	moreover	ADV
ajfa-11077	274	2	,	,	PUNCT
ajfa-11077	274	3	some	some	DET
ajfa-11077	274	4	estimates	estimate	NOUN
ajfa-11077	274	5	of	of	ADP
ajfa-11077	274	6	size	size	NOUN
ajfa-11077	274	7	are	be	AUX
ajfa-11077	274	8	significant	significant	ADJ
ajfa-11077	274	9	in	in	ADP
ajfa-11077	274	10	table	table	NOUN
ajfa-11077	274	11	4	4	NUM
ajfa-11077	274	12	.	.	PUNCT
ajfa-11077	275	1	if	if	SCONJ
ajfa-11077	275	2	it	it	PRON
ajfa-11077	275	3	is	be	AUX
ajfa-11077	275	4	positive	positive	ADJ
ajfa-11077	275	5	,	,	PUNCT
ajfa-11077	275	6	such	such	ADJ
ajfa-11077	275	7	as	as	ADP
ajfa-11077	275	8	chateau	chateau	PROPN
ajfa-11077	275	9	international	international	PROPN
ajfa-11077	275	10	development	development	PROPN
ajfa-11077	275	11	co.	co.	PROPN
ajfa-11077	275	12	,	,	PUNCT
ajfa-11077	275	13	ltd	ltd	PROPN
ajfa-11077	275	14	.	.	PROPN
ajfa-11077	275	15	(	(	PUNCT
ajfa-11077	275	16	2722	2722	NUM
ajfa-11077	275	17	)	)	PUNCT
ajfa-11077	275	18	,	,	PUNCT
ajfa-11077	275	19	then	then	ADV
ajfa-11077	275	20	the	the	DET
ajfa-11077	275	21	company	company	NOUN
ajfa-11077	275	22	may	may	AUX
ajfa-11077	275	23	increase	increase	VERB
ajfa-11077	275	24	its	its	PRON
ajfa-11077	275	25	own	own	ADJ
ajfa-11077	275	26	assets	asset	NOUN
ajfa-11077	275	27	to	to	PART
ajfa-11077	275	28	increase	increase	VERB
ajfa-11077	275	29	its	its	PRON
ajfa-11077	275	30	road1	road1	NOUN
ajfa-11077	275	31	,	,	PUNCT
ajfa-11077	275	32	so	so	ADV
ajfa-11077	275	33	to	to	ADP
ajfa-11077	275	34	its	its	PRON
ajfa-11077	275	35	roa	roa	NOUN
ajfa-11077	275	36	.	.	PUNCT
ajfa-11077	276	1	hence	hence	ADV
ajfa-11077	276	2	,	,	PUNCT
ajfa-11077	276	3	it	it	PRON
ajfa-11077	276	4	can	can	AUX
ajfa-11077	276	5	operate	operate	VERB
ajfa-11077	276	6	efficiently	efficiently	ADV
ajfa-11077	276	7	by	by	ADP
ajfa-11077	276	8	its	its	PRON
ajfa-11077	276	9	assets	asset	NOUN
ajfa-11077	276	10	to	to	PART
ajfa-11077	276	11	generate	generate	VERB
ajfa-11077	276	12	profit	profit	NOUN
ajfa-11077	276	13	and	and	CCONJ
ajfa-11077	276	14	then	then	ADV
ajfa-11077	276	15	to	to	PART
ajfa-11077	276	16	be	be	AUX
ajfa-11077	276	17	a	a	DET
ajfa-11077	276	18	well	well	ADV
ajfa-11077	276	19	-	-	PUNCT
ajfa-11077	276	20	performed	perform	VERB
ajfa-11077	276	21	company	company	NOUN
ajfa-11077	276	22	.	.	PUNCT
ajfa-11077	277	1	if	if	SCONJ
ajfa-11077	277	2	the	the	DET
ajfa-11077	277	3	estimate	estimate	NOUN
ajfa-11077	277	4	of	of	ADP
ajfa-11077	277	5	size	size	NOUN
ajfa-11077	277	6	is	be	AUX
ajfa-11077	277	7	negative	negative	ADJ
ajfa-11077	277	8	,	,	PUNCT
ajfa-11077	277	9	such	such	ADJ
ajfa-11077	277	10	as	as	ADP
ajfa-11077	277	11	those	those	PRON
ajfa-11077	277	12	in	in	ADP
ajfa-11077	277	13	leofoo	leofoo	PROPN
ajfa-11077	277	14	development	development	PROPN
ajfa-11077	277	15	co.	co.	PROPN
ajfa-11077	277	16	,	,	PUNCT
ajfa-11077	277	17	ltd	ltd	PROPN
ajfa-11077	277	18	.	.	PROPN
ajfa-11077	277	19	(	(	PUNCT
ajfa-11077	277	20	2705	2705	NUM
ajfa-11077	277	21	)	)	PUNCT
ajfa-11077	277	22	and	and	CCONJ
ajfa-11077	277	23	fx	fx	PROPN
ajfa-11077	277	24	hotels	hotel	NOUN
ajfa-11077	277	25	group	group	PROPN
ajfa-11077	277	26	inc	inc	PROPN
ajfa-11077	277	27	.	.	PROPN
ajfa-11077	278	1	(	(	PUNCT
ajfa-11077	278	2	2724	2724	NUM
ajfa-11077	278	3	-	-	SYM
ajfa-11077	278	4	f	f	NOUN
ajfa-11077	278	5	)	)	PUNCT
ajfa-11077	278	6	,	,	PUNCT
ajfa-11077	278	7	then	then	ADV
ajfa-11077	278	8	the	the	DET
ajfa-11077	278	9	company	company	NOUN
ajfa-11077	278	10	may	may	AUX
ajfa-11077	278	11	dispose	dispose	VERB
ajfa-11077	278	12	some	some	PRON
ajfa-11077	278	13	of	of	ADP
ajfa-11077	278	14	its	its	PRON
ajfa-11077	278	15	idle	idle	ADJ
ajfa-11077	278	16	assets	asset	NOUN
ajfa-11077	278	17	or	or	CCONJ
ajfa-11077	278	18	non	non	ADJ
ajfa-11077	278	19	-	-	ADJ
ajfa-11077	278	20	performed	performed	ADJ
ajfa-11077	278	21	assets	asset	NOUN
ajfa-11077	278	22	to	to	PART
ajfa-11077	278	23	reduce	reduce	VERB
ajfa-11077	278	24	the	the	DET
ajfa-11077	278	25	inefficient	inefficient	ADJ
ajfa-11077	278	26	effect	effect	NOUN
ajfa-11077	278	27	of	of	ADP
ajfa-11077	278	28	these	these	DET
ajfa-11077	278	29	assets	asset	NOUN
ajfa-11077	278	30	.	.	PUNCT
ajfa-11077	279	1	as	as	ADP
ajfa-11077	279	2	a	a	DET
ajfa-11077	279	3	result	result	NOUN
ajfa-11077	279	4	,	,	PUNCT
ajfa-11077	279	5	the	the	DET
ajfa-11077	279	6	company	company	NOUN
ajfa-11077	279	7	’s	’s	PART
ajfa-11077	279	8	roa	roa	NOUN
ajfa-11077	279	9	will	will	AUX
ajfa-11077	279	10	be	be	AUX
ajfa-11077	279	11	improved	improve	VERB
ajfa-11077	279	12	.	.	PUNCT
ajfa-11077	280	1	next	next	ADJ
ajfa-11077	280	2	,	,	PUNCT
ajfa-11077	280	3	table	table	NOUN
ajfa-11077	280	4	4	4	NUM
ajfa-11077	280	5	shows	show	VERB
ajfa-11077	280	6	significant	significant	ADJ
ajfa-11077	280	7	effects	effect	NOUN
ajfa-11077	280	8	on	on	ADP
ajfa-11077	280	9	the	the	DET
ajfa-11077	280	10	performances	performance	NOUN
ajfa-11077	280	11	of	of	ADP
ajfa-11077	280	12	taiwan	taiwan	PROPN
ajfa-11077	280	13	hotel	hotel	NOUN
ajfa-11077	280	14	industry	industry	NOUN
ajfa-11077	280	15	due	due	ADP
ajfa-11077	280	16	to	to	ADP
ajfa-11077	280	17	the	the	DET
ajfa-11077	280	18	fluctuations	fluctuation	NOUN
ajfa-11077	280	19	of	of	ADP
ajfa-11077	280	20	foreign	foreign	ADJ
ajfa-11077	280	21	exchange	exchange	NOUN
ajfa-11077	280	22	rates	rate	NOUN
ajfa-11077	280	23	.	.	PUNCT
ajfa-11077	281	1	the	the	DET
ajfa-11077	281	2	changes	change	NOUN
ajfa-11077	281	3	of	of	ADP
ajfa-11077	281	4	foreign	foreign	ADJ
ajfa-11077	281	5	exchange	exchange	NOUN
ajfa-11077	281	6	rates	rate	NOUN
ajfa-11077	281	7	have	have	VERB
ajfa-11077	281	8	significant	significant	ADJ
ajfa-11077	281	9	impacts	impact	NOUN
ajfa-11077	281	10	on	on	ADP
ajfa-11077	281	11	the	the	DET
ajfa-11077	281	12	road1	road1	NOUN
ajfa-11077	281	13	s.	s.	PROPN
ajfa-11077	281	14	some	some	PRON
ajfa-11077	281	15	are	be	AUX
ajfa-11077	281	16	positive	positive	ADJ
ajfa-11077	281	17	and	and	CCONJ
ajfa-11077	281	18	some	some	PRON
ajfa-11077	281	19	are	be	AUX
ajfa-11077	281	20	negative	negative	ADJ
ajfa-11077	281	21	.	.	PUNCT
ajfa-11077	282	1	the	the	DET
ajfa-11077	282	2	same	same	ADJ
ajfa-11077	282	3	currency	currency	NOUN
ajfa-11077	282	4	has	have	VERB
ajfa-11077	282	5	different	different	ADJ
ajfa-11077	282	6	impact	impact	NOUN
ajfa-11077	282	7	on	on	ADP
ajfa-11077	282	8	different	different	ADJ
ajfa-11077	282	9	companies	company	NOUN
ajfa-11077	282	10	.	.	PUNCT
ajfa-11077	283	1	for	for	ADP
ajfa-11077	283	2	example	example	NOUN
ajfa-11077	283	3	,	,	PUNCT
ajfa-11077	283	4	singapore	singapore	PROPN
ajfa-11077	283	5	dollar	dollar	NOUN
ajfa-11077	283	6	has	have	VERB
ajfa-11077	283	7	asian	asian	ADJ
ajfa-11077	283	8	journal	journal	NOUN
ajfa-11077	283	9	of	of	ADP
ajfa-11077	283	10	finance	finance	PROPN
ajfa-11077	283	11	&	&	CCONJ
ajfa-11077	283	12	accounting	accounting	PROPN
ajfa-11077	283	13	issn	issn	PROPN
ajfa-11077	283	14	1946	1946	NUM
ajfa-11077	283	15	-	-	PUNCT
ajfa-11077	283	16	052x	052x	PROPN
ajfa-11077	283	17	2017	2017	NUM
ajfa-11077	283	18	,	,	PUNCT
ajfa-11077	283	19	vol	vol	NOUN
ajfa-11077	283	20	.	.	NOUN
ajfa-11077	284	1	9	9	NUM
ajfa-11077	284	2	,	,	PUNCT
ajfa-11077	284	3	no	no	INTJ
ajfa-11077	284	4	.	.	NOUN
ajfa-11077	284	5	1	1	NUM
ajfa-11077	284	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	284	7	295	295	NUM
ajfa-11077	284	8	positive	positive	ADJ
ajfa-11077	284	9	effect	effect	NOUN
ajfa-11077	284	10	on	on	ADP
ajfa-11077	284	11	the	the	DET
ajfa-11077	284	12	road	road	NOUN
ajfa-11077	284	13	1	1	NUM
ajfa-11077	284	14	of	of	ADP
ajfa-11077	284	15	leofoo	leofoo	PROPN
ajfa-11077	284	16	development	development	PROPN
ajfa-11077	284	17	co.	co.	PROPN
ajfa-11077	284	18	,	,	PUNCT
ajfa-11077	284	19	ltd	ltd	PROPN
ajfa-11077	284	20	.	.	PROPN
ajfa-11077	284	21	(	(	PUNCT
ajfa-11077	284	22	2705	2705	NUM
ajfa-11077	284	23	)	)	PUNCT
ajfa-11077	284	24	,	,	PUNCT
ajfa-11077	284	25	chateau	chateau	PROPN
ajfa-11077	284	26	international	international	PROPN
ajfa-11077	284	27	development	development	PROPN
ajfa-11077	284	28	co.	co.	PROPN
ajfa-11077	284	29	,	,	PUNCT
ajfa-11077	284	30	ltd	ltd	PROPN
ajfa-11077	284	31	.	.	PROPN
ajfa-11077	284	32	(	(	PUNCT
ajfa-11077	284	33	2722	2722	NUM
ajfa-11077	284	34	)	)	PUNCT
ajfa-11077	284	35	,	,	PUNCT
ajfa-11077	284	36	and	and	CCONJ
ajfa-11077	284	37	on	on	ADP
ajfa-11077	284	38	the	the	DET
ajfa-11077	284	39	roa	roa	NOUN
ajfa-11077	284	40	of	of	ADP
ajfa-11077	284	41	ambassador	ambassador	PROPN
ajfa-11077	284	42	hotel	hotel	PROPN
ajfa-11077	284	43	ltd	ltd	PROPN
ajfa-11077	284	44	.	.	PROPN
ajfa-11077	284	45	(	(	PUNCT
ajfa-11077	284	46	2704	2704	NUM
ajfa-11077	284	47	)	)	PUNCT
ajfa-11077	284	48	,	,	PUNCT
ajfa-11077	284	49	but	but	CCONJ
ajfa-11077	284	50	negative	negative	ADJ
ajfa-11077	284	51	effect	effect	NOUN
ajfa-11077	284	52	on	on	ADP
ajfa-11077	284	53	that	that	PRON
ajfa-11077	284	54	of	of	ADP
ajfa-11077	284	55	pleasant	pleasant	ADJ
ajfa-11077	284	56	hotels	hotel	NOUN
ajfa-11077	284	57	international	international	ADJ
ajfa-11077	284	58	inc.(2718	inc.(2718	NOUN
ajfa-11077	284	59	)	)	PUNCT
ajfa-11077	284	60	and	and	CCONJ
ajfa-11077	284	61	hotel	hotel	NOUN
ajfa-11077	284	62	royal	royal	ADJ
ajfa-11077	284	63	chihpen	chihpen	NOUN
ajfa-11077	284	64	(	(	PUNCT
ajfa-11077	284	65	5704	5704	NUM
ajfa-11077	284	66	)	)	PUNCT
ajfa-11077	284	67	.	.	PUNCT
ajfa-11077	285	1	moreover	moreover	ADV
ajfa-11077	285	2	,	,	PUNCT
ajfa-11077	285	3	the	the	DET
ajfa-11077	285	4	australian	australian	ADJ
ajfa-11077	285	5	dollar	dollar	NOUN
ajfa-11077	285	6	has	have	VERB
ajfa-11077	285	7	positive	positive	ADJ
ajfa-11077	285	8	effect	effect	NOUN
ajfa-11077	285	9	on	on	ADP
ajfa-11077	285	10	the	the	DET
ajfa-11077	285	11	road1	road1	NOUN
ajfa-11077	285	12	of	of	ADP
ajfa-11077	285	13	formosa	formosa	PROPN
ajfa-11077	285	14	international	international	PROPN
ajfa-11077	285	15	hotels	hotel	NOUN
ajfa-11077	285	16	corporation	corporation	NOUN
ajfa-11077	285	17	(	(	PUNCT
ajfa-11077	285	18	2707	2707	NUM
ajfa-11077	285	19	)	)	PUNCT
ajfa-11077	285	20	,	,	PUNCT
ajfa-11077	285	21	pleasant	pleasant	ADJ
ajfa-11077	285	22	hotels	hotels	PROPN
ajfa-11077	285	23	international	international	PROPN
ajfa-11077	285	24	inc	inc	PROPN
ajfa-11077	285	25	.	.	PROPN
ajfa-11077	285	26	(	(	PUNCT
ajfa-11077	285	27	2718	2718	NUM
ajfa-11077	285	28	)	)	PUNCT
ajfa-11077	285	29	,	,	PUNCT
ajfa-11077	285	30	and	and	CCONJ
ajfa-11077	285	31	landis	landis	PROPN
ajfa-11077	285	32	taipei	taipei	PROPN
ajfa-11077	285	33	hotel	hotel	PROPN
ajfa-11077	285	34	co.	co.	PROPN
ajfa-11077	285	35	,	,	PUNCT
ajfa-11077	285	36	ltd	ltd	PROPN
ajfa-11077	285	37	.	.	PROPN
ajfa-11077	285	38	(	(	PUNCT
ajfa-11077	285	39	5703	5703	NUM
ajfa-11077	285	40	)	)	PUNCT
ajfa-11077	285	41	,	,	PUNCT
ajfa-11077	285	42	and	and	CCONJ
ajfa-11077	285	43	on	on	ADP
ajfa-11077	285	44	the	the	DET
ajfa-11077	285	45	roa	roa	NOUN
ajfa-11077	285	46	of	of	ADP
ajfa-11077	285	47	ambassador	ambassador	PROPN
ajfa-11077	285	48	hotel	hotel	PROPN
ajfa-11077	285	49	ltd	ltd	PROPN
ajfa-11077	285	50	.	.	PROPN
ajfa-11077	285	51	(	(	PUNCT
ajfa-11077	285	52	2704	2704	NUM
ajfa-11077	285	53	)	)	PUNCT
ajfa-11077	285	54	,	,	PUNCT
ajfa-11077	285	55	but	but	CCONJ
ajfa-11077	285	56	negative	negative	ADJ
ajfa-11077	285	57	effect	effect	NOUN
ajfa-11077	285	58	on	on	ADP
ajfa-11077	285	59	that	that	PRON
ajfa-11077	285	60	of	of	ADP
ajfa-11077	285	61	chateau	chateau	PROPN
ajfa-11077	285	62	international	international	PROPN
ajfa-11077	285	63	development	development	PROPN
ajfa-11077	285	64	co.	co.	PROPN
ajfa-11077	285	65	,	,	PUNCT
ajfa-11077	285	66	ltd	ltd	PROPN
ajfa-11077	285	67	.	.	PROPN
ajfa-11077	285	68	(	(	PUNCT
ajfa-11077	285	69	2722	2722	NUM
ajfa-11077	285	70	)	)	PUNCT
ajfa-11077	285	71	.	.	PUNCT
ajfa-11077	286	1	and	and	CCONJ
ajfa-11077	286	2	the	the	DET
ajfa-11077	286	3	korean	korean	ADJ
ajfa-11077	286	4	won	win	VERB
ajfa-11077	286	5	has	have	VERB
ajfa-11077	286	6	a	a	DET
ajfa-11077	286	7	positive	positive	ADJ
ajfa-11077	286	8	effect	effect	NOUN
ajfa-11077	286	9	on	on	ADP
ajfa-11077	286	10	the	the	DET
ajfa-11077	286	11	road1	road1	NOUN
ajfa-11077	286	12	of	of	ADP
ajfa-11077	286	13	leofoo	leofoo	PROPN
ajfa-11077	286	14	development	development	PROPN
ajfa-11077	286	15	co.	co.	PROPN
ajfa-11077	286	16	,	,	PUNCT
ajfa-11077	286	17	ltd	ltd	PROPN
ajfa-11077	286	18	.	.	PROPN
ajfa-11077	286	19	(	(	PUNCT
ajfa-11077	286	20	2705	2705	NUM
ajfa-11077	286	21	)	)	PUNCT
ajfa-11077	286	22	,	,	PUNCT
ajfa-11077	286	23	janfusun	janfusun	PROPN
ajfa-11077	286	24	fancyworld	fancyworld	PROPN
ajfa-11077	286	25	corp	corp	PROPN
ajfa-11077	286	26	.	.	PROPN
ajfa-11077	286	27	(	(	PUNCT
ajfa-11077	286	28	5701	5701	NUM
ajfa-11077	286	29	)	)	PUNCT
ajfa-11077	286	30	,	,	PUNCT
ajfa-11077	286	31	hotel	hotel	NOUN
ajfa-11077	286	32	royal	royal	ADJ
ajfa-11077	286	33	chihpen	chihpen	NOUN
ajfa-11077	286	34	(	(	PUNCT
ajfa-11077	286	35	5704	5704	NUM
ajfa-11077	286	36	)	)	PUNCT
ajfa-11077	286	37	,	,	PUNCT
ajfa-11077	286	38	and	and	CCONJ
ajfa-11077	286	39	then	then	ADV
ajfa-11077	286	40	on	on	ADP
ajfa-11077	286	41	those	those	DET
ajfa-11077	286	42	company	company	NOUN
ajfa-11077	286	43	’s	’s	PART
ajfa-11077	286	44	roa	roa	NOUN
ajfa-11077	286	45	.	.	PUNCT
ajfa-11077	287	1	furthermore	furthermore	ADV
ajfa-11077	287	2	,	,	PUNCT
ajfa-11077	287	3	the	the	DET
ajfa-11077	287	4	number	number	NOUN
ajfa-11077	287	5	of	of	ADP
ajfa-11077	287	6	significant	significant	ADJ
ajfa-11077	287	7	variables	variable	NOUN
ajfa-11077	287	8	and	and	CCONJ
ajfa-11077	287	9	the	the	DET
ajfa-11077	287	10	component	component	NOUN
ajfa-11077	287	11	of	of	ADP
ajfa-11077	287	12	significant	significant	ADJ
ajfa-11077	287	13	variables	variable	NOUN
ajfa-11077	287	14	are	be	AUX
ajfa-11077	287	15	different	different	ADJ
ajfa-11077	287	16	to	to	ADP
ajfa-11077	287	17	each	each	DET
ajfa-11077	287	18	company	company	NOUN
ajfa-11077	287	19	.	.	PUNCT
ajfa-11077	288	1	for	for	ADP
ajfa-11077	288	2	example	example	NOUN
ajfa-11077	288	3	,	,	PUNCT
ajfa-11077	288	4	the	the	DET
ajfa-11077	288	5	significant	significant	ADJ
ajfa-11077	288	6	variables	variable	NOUN
ajfa-11077	288	7	of	of	ADP
ajfa-11077	288	8	the	the	DET
ajfa-11077	288	9	pleasant	pleasant	NOUN
ajfa-11077	288	10	’s	’s	PART
ajfa-11077	288	11	road1	road1	NOUN
ajfa-11077	288	12	are	be	AUX
ajfa-11077	288	13	the	the	DET
ajfa-11077	288	14	change	change	NOUN
ajfa-11077	288	15	of	of	ADP
ajfa-11077	288	16	usd	usd	NOUN
ajfa-11077	288	17	,	,	PUNCT
ajfa-11077	288	18	cny	cny	NOUN
ajfa-11077	288	19	,	,	PUNCT
ajfa-11077	288	20	eur	eur	PROPN
ajfa-11077	288	21	,	,	PUNCT
ajfa-11077	288	22	sgd	sgd	PROPN
ajfa-11077	288	23	,	,	PUNCT
ajfa-11077	288	24	aud	aud	NOUN
ajfa-11077	288	25	,	,	PUNCT
ajfa-11077	288	26	idr	idr	PROPN
ajfa-11077	288	27	,	,	PUNCT
ajfa-11077	288	28	thb	thb	PROPN
ajfa-11077	288	29	,	,	PUNCT
ajfa-11077	288	30	however	however	ADV
ajfa-11077	288	31	,	,	PUNCT
ajfa-11077	288	32	that	that	PRON
ajfa-11077	288	33	of	of	ADP
ajfa-11077	288	34	the	the	DET
ajfa-11077	288	35	chateau	chateau	NOUN
ajfa-11077	288	36	’s	’s	PART
ajfa-11077	288	37	road1	road1	NOUN
ajfa-11077	288	38	are	be	AUX
ajfa-11077	288	39	only	only	ADV
ajfa-11077	288	40	the	the	DET
ajfa-11077	288	41	changes	change	NOUN
ajfa-11077	288	42	of	of	ADP
ajfa-11077	288	43	singapore	singapore	PROPN
ajfa-11077	288	44	dollar	dollar	PROPN
ajfa-11077	288	45	and	and	CCONJ
ajfa-11077	288	46	australia	australia	PROPN
ajfa-11077	288	47	dollar	dollar	NOUN
ajfa-11077	288	48	.	.	PUNCT
ajfa-11077	289	1	as	as	ADP
ajfa-11077	289	2	a	a	DET
ajfa-11077	289	3	result	result	NOUN
ajfa-11077	289	4	,	,	PUNCT
ajfa-11077	289	5	the	the	DET
ajfa-11077	289	6	portfolio	portfolio	NOUN
ajfa-11077	289	7	of	of	ADP
ajfa-11077	289	8	currencies	currency	NOUN
ajfa-11077	289	9	should	should	AUX
ajfa-11077	289	10	be	be	AUX
ajfa-11077	289	11	different	different	ADJ
ajfa-11077	289	12	for	for	ADP
ajfa-11077	289	13	each	each	DET
ajfa-11077	289	14	company	company	NOUN
ajfa-11077	289	15	.	.	PUNCT
ajfa-11077	290	1	table	table	NOUN
ajfa-11077	290	2	5	5	NUM
ajfa-11077	290	3	.	.	PUNCT
ajfa-11077	291	1	regression	regression	NOUN
ajfa-11077	291	2	on	on	ADP
ajfa-11077	291	3	roe	roe	PROPN
ajfa-11077	291	4	the	the	DET
ajfa-11077	291	5	regression	regression	NOUN
ajfa-11077	291	6	model	model	NOUN
ajfa-11077	291	7	is	be	AUX
ajfa-11077	291	8	given	give	VERB
ajfa-11077	291	9	as	as	SCONJ
ajfa-11077	291	10	follows	follow	VERB
ajfa-11077	291	11	:	:	PUNCT
ajfa-11077	291	12	.	.	PUNCT
ajfa-11077	292	1	,	,	PUNCT
ajfa-11077	292	2	,	,	PUNCT
ajfa-11077	292	3	,	,	PUNCT
ajfa-11077	292	4	,	,	PUNCT
ajfa-11077	292	5	,	,	PUNCT
ajfa-11077	292	6	,	,	PUNCT
ajfa-11077	292	7	,	,	PUNCT
ajfa-11077	292	8	,	,	PUNCT
ajfa-11077	292	9	titii	titii	VERB
ajfa-11077	292	10	n	n	PRON
ajfa-11077	292	11	j	j	PROPN
ajfa-11077	292	12	tjji	tjji	NOUN
ajfa-11077	292	13	p	p	PROPN
ajfa-11077	292	14	k	k	PROPN
ajfa-11077	292	15	ktikitmiiti	ktikitmiiti	PROPN
ajfa-11077	292	16	asizefxroedrmrfroed	asizefxroedrmrfroe	VERB
ajfa-11077	292	17	+	+	NOUN
ajfa-11077	292	18	⋅+δ⋅+⋅+⋅+=	⋅+δ⋅+⋅+⋅+=	NOUN
ajfa-11077	292	19			NOUN
ajfa-11077	293	1	=	=	NOUN
ajfa-11077	293	2	=	=	SYM
ajfa-11077	293	3	−	−	PROPN
ajfa-11077	293	4	δγφβα	δγφβα	X
ajfa-11077	293	5	11	11	NUM
ajfa-11077	293	6	11	11	NUM
ajfa-11077	293	7	model	model	NOUN
ajfa-11077	293	8	i	i	PRON
ajfa-11077	293	9	regresses	regress	VERB
ajfa-11077	293	10	1,,,1	1,,,1	NUM
ajfa-11077	293	11	−⋅⋅⋅	−⋅⋅⋅	NUM
ajfa-11077	293	12	−≡	−≡	PROPN
ajfa-11077	293	13	ttt	ttt	PROPN
ajfa-11077	293	14	roeroeroed	roeroeroe	VERB
ajfa-11077	293	15	on	on	ADP
ajfa-11077	293	16	all	all	DET
ajfa-11077	293	17	exchange	exchange	NOUN
ajfa-11077	293	18	fluctuations	fluctuation	NOUN
ajfa-11077	293	19	,	,	PUNCT
ajfa-11077	293	20	lagged	lag	VERB
ajfa-11077	293	21	variables	variable	NOUN
ajfa-11077	293	22	and	and	CCONJ
ajfa-11077	293	23	the	the	DET
ajfa-11077	293	24	control	control	NOUN
ajfa-11077	293	25	variables	variable	NOUN
ajfa-11077	293	26	.	.	PUNCT
ajfa-11077	294	1	model	model	PROPN
ajfa-11077	294	2	ii	ii	PROPN
ajfa-11077	294	3	regresses	regress	VERB
ajfa-11077	294	4	roed	roe	VERB
ajfa-11077	294	5	1	1	NUM
ajfa-11077	294	6	on	on	ADP
ajfa-11077	294	7	all	all	DET
ajfa-11077	294	8	variables	variable	NOUN
ajfa-11077	294	9	but	but	CCONJ
ajfa-11077	294	10	selected	select	VERB
ajfa-11077	294	11	by	by	ADP
ajfa-11077	294	12	eliminating	eliminate	VERB
ajfa-11077	294	13	higher	high	ADJ
ajfa-11077	294	14	p	p	ADJ
ajfa-11077	294	15	-	-	PUNCT
ajfa-11077	294	16	value	value	NOUN
ajfa-11077	294	17	explanatory	explanatory	ADJ
ajfa-11077	294	18	variables	variable	NOUN
ajfa-11077	294	19	.	.	PUNCT
ajfa-11077	295	1	the	the	DET
ajfa-11077	295	2	values	value	NOUN
ajfa-11077	295	3	in	in	ADP
ajfa-11077	295	4	the	the	DET
ajfa-11077	295	5	parentheses	parenthesis	NOUN
ajfa-11077	295	6	are	be	AUX
ajfa-11077	295	7	standard	standard	ADJ
ajfa-11077	295	8	error	error	NOUN
ajfa-11077	295	9	of	of	ADP
ajfa-11077	295	10	the	the	DET
ajfa-11077	295	11	estimates	estimate	NOUN
ajfa-11077	295	12	.	.	PUNCT
ajfa-11077	296	1	and	and	CCONJ
ajfa-11077	296	2	*	*	PUNCT
ajfa-11077	296	3	,	,	PUNCT
ajfa-11077	296	4	*	*	PUNCT
ajfa-11077	296	5	*	*	PUNCT
ajfa-11077	296	6	and	and	CCONJ
ajfa-11077	296	7	*	*	PUNCT
ajfa-11077	296	8	*	*	PUNCT
ajfa-11077	296	9	*	*	PUNCT
ajfa-11077	296	10	stand	stand	VERB
ajfa-11077	296	11	for	for	ADP
ajfa-11077	296	12	10	10	NUM
ajfa-11077	296	13	%	%	NOUN
ajfa-11077	296	14	,	,	PUNCT
ajfa-11077	296	15	5	5	NUM
ajfa-11077	296	16	%	%	NOUN
ajfa-11077	296	17	and	and	CCONJ
ajfa-11077	296	18	1	1	NUM
ajfa-11077	296	19	%	%	NOUN
ajfa-11077	296	20	level	level	NOUN
ajfa-11077	296	21	of	of	ADP
ajfa-11077	296	22	significance	significance	NOUN
ajfa-11077	296	23	,	,	PUNCT
ajfa-11077	296	24	respectively	respectively	ADV
ajfa-11077	296	25	.	.	PUNCT
ajfa-11077	297	1	company	company	NOUN
ajfa-11077	297	2	hotel	hotel	NOUN
ajfa-11077	297	3	holiday	holiday	NOUN
ajfa-11077	297	4	garden	garden	NOUN
ajfa-11077	297	5	(	(	PUNCT
ajfa-11077	297	6	2702	2702	NUM
ajfa-11077	297	7	)	)	PUNCT
ajfa-11077	297	8	the	the	DET
ajfa-11077	297	9	leofoo	leofoo	PROPN
ajfa-11077	297	10	development	development	PROPN
ajfa-11077	297	11	co.	co.	PROPN
ajfa-11077	297	12	,	,	PUNCT
ajfa-11077	297	13	ltd	ltd	PROPN
ajfa-11077	297	14	.	.	PROPN
ajfa-11077	297	15	(	(	PUNCT
ajfa-11077	297	16	2705	2705	NUM
ajfa-11077	297	17	)	)	PUNCT
ajfa-11077	297	18	formosa	formosa	PROPN
ajfa-11077	297	19	international	international	PROPN
ajfa-11077	297	20	hotelscorporation	hotelscorporation	PROPN
ajfa-11077	297	21	(	(	PUNCT
ajfa-11077	297	22	2707	2707	NUM
ajfa-11077	297	23	)	)	PUNCT
ajfa-11077	297	24	variables	variable	NOUN
ajfa-11077	297	25	model	model	NOUN
ajfa-11077	298	1	i	i	PRON
ajfa-11077	298	2	model	model	PROPN
ajfa-11077	298	3	ii	ii	PROPN
ajfa-11077	298	4	model	model	NOUN
ajfa-11077	298	5	i	i	PRON
ajfa-11077	298	6	model	model	PROPN
ajfa-11077	298	7	ii	ii	PROPN
ajfa-11077	298	8	model	model	NOUN
ajfa-11077	298	9	i	i	PRON
ajfa-11077	298	10	model	model	VERB
ajfa-11077	298	11	ii	ii	PROPN
ajfa-11077	298	12	const	const	PROPN
ajfa-11077	298	13	.	.	PUNCT
ajfa-11077	299	1	8.39	8.39	NUM
ajfa-11077	299	2	(	(	PUNCT
ajfa-11077	299	3	10.97	10.97	NUM
ajfa-11077	299	4	)	)	PUNCT
ajfa-11077	299	5	0.14	0.14	NUM
ajfa-11077	299	6	(	(	PUNCT
ajfa-11077	299	7	0.13	0.13	NUM
ajfa-11077	299	8	)	)	PUNCT
ajfa-11077	299	9	550.62	550.62	NUM
ajfa-11077	299	10	(	(	PUNCT
ajfa-11077	299	11	305.52	305.52	NUM
ajfa-11077	299	12	)	)	PUNCT
ajfa-11077	299	13	232.88	232.88	NUM
ajfa-11077	299	14	*	*	PUNCT
ajfa-11077	299	15	*	*	PUNCT
ajfa-11077	299	16	(	(	PUNCT
ajfa-11077	299	17	110.24	110.24	NUM
ajfa-11077	299	18	)	)	PUNCT
ajfa-11077	299	19	28.18	28.18	NUM
ajfa-11077	299	20	(	(	PUNCT
ajfa-11077	299	21	15.24	15.24	NUM
ajfa-11077	299	22	)	)	PUNCT
ajfa-11077	299	23	0.10	0.10	NUM
ajfa-11077	299	24	(	(	PUNCT
ajfa-11077	299	25	0.21	0.21	NUM
ajfa-11077	299	26	)	)	PUNCT
ajfa-11077	299	27	asian	asian	ADJ
ajfa-11077	299	28	journal	journal	NOUN
ajfa-11077	299	29	of	of	ADP
ajfa-11077	299	30	finance	finance	PROPN
ajfa-11077	299	31	&	&	CCONJ
ajfa-11077	299	32	accounting	accounting	PROPN
ajfa-11077	299	33	issn	issn	PROPN
ajfa-11077	299	34	1946	1946	NUM
ajfa-11077	299	35	-	-	PUNCT
ajfa-11077	299	36	052x	052x	PROPN
ajfa-11077	299	37	2017	2017	NUM
ajfa-11077	299	38	,	,	PUNCT
ajfa-11077	299	39	vol	vol	NOUN
ajfa-11077	299	40	.	.	NOUN
ajfa-11077	300	1	9	9	NUM
ajfa-11077	300	2	,	,	PUNCT
ajfa-11077	300	3	no	no	INTJ
ajfa-11077	300	4	.	.	NOUN
ajfa-11077	300	5	1	1	NUM
ajfa-11077	300	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	300	7	296	296	NUM
ajfa-11077	300	8	rmrf	rmrf	NOUN
ajfa-11077	300	9	0.01	0.01	NUM
ajfa-11077	300	10	(	(	PUNCT
ajfa-11077	300	11	0.02	0.02	NUM
ajfa-11077	300	12	)	)	PUNCT
ajfa-11077	300	13	-0.07	-0.07	X
ajfa-11077	300	14	(	(	PUNCT
ajfa-11077	300	15	0.21	0.21	NUM
ajfa-11077	300	16	)	)	PUNCT
ajfa-11077	300	17	-0.03	-0.03	NOUN
ajfa-11077	300	18	(	(	PUNCT
ajfa-11077	300	19	0.04	0.04	NUM
ajfa-11077	300	20	)	)	PUNCT
ajfa-11077	300	21	usd	usd	NOUN
ajfa-11077	300	22	0.24	0.24	NUM
ajfa-11077	300	23	(	(	PUNCT
ajfa-11077	300	24	0.19	0.19	NUM
ajfa-11077	300	25	)	)	PUNCT
ajfa-11077	300	26	-1.77	-1.77	X
ajfa-11077	300	27	(	(	PUNCT
ajfa-11077	300	28	1.44	1.44	NUM
ajfa-11077	300	29	)	)	PUNCT
ajfa-11077	300	30	0.05	0.05	NUM
ajfa-11077	300	31	(	(	PUNCT
ajfa-11077	300	32	0.31	0.31	NUM
ajfa-11077	300	33	)	)	PUNCT
ajfa-11077	300	34	jpy	jpy	NOUN
ajfa-11077	300	35	0.05	0.05	NUM
ajfa-11077	300	36	(	(	PUNCT
ajfa-11077	300	37	0.05	0.05	NUM
ajfa-11077	300	38	)	)	PUNCT
ajfa-11077	300	39	0.08	0.08	NUM
ajfa-11077	300	40	*	*	PUNCT
ajfa-11077	300	41	*	*	PUNCT
ajfa-11077	300	42	(	(	PUNCT
ajfa-11077	300	43	0.03	0.03	NUM
ajfa-11077	300	44	)	)	PUNCT
ajfa-11077	300	45	-0.64	-0.64	NOUN
ajfa-11077	300	46	*	*	PUNCT
ajfa-11077	300	47	(	(	PUNCT
ajfa-11077	300	48	0.33	0.33	NUM
ajfa-11077	300	49	)	)	PUNCT
ajfa-11077	300	50	-0.39	-0.39	NOUN
ajfa-11077	300	51	*	*	SYM
ajfa-11077	300	52	*	*	PUNCT
ajfa-11077	300	53	(	(	PUNCT
ajfa-11077	300	54	0.14	0.14	NUM
ajfa-11077	300	55	)	)	PUNCT
ajfa-11077	300	56	-0.12	-0.12	NUM
ajfa-11077	300	57	(	(	PUNCT
ajfa-11077	300	58	0.08	0.08	NUM
ajfa-11077	300	59	)	)	PUNCT
ajfa-11077	300	60	-0.09	-0.09	NUM
ajfa-11077	300	61	*	*	PUNCT
ajfa-11077	300	62	(	(	PUNCT
ajfa-11077	300	63	0.05	0.05	NUM
ajfa-11077	300	64	)	)	PUNCT
ajfa-11077	300	65	cny	cny	NOUN
ajfa-11077	300	66	-0.16	-0.16	PROPN
ajfa-11077	300	67	(	(	PUNCT
ajfa-11077	300	68	0.20	0.20	NUM
ajfa-11077	300	69	)	)	PUNCT
ajfa-11077	300	70	1.37	1.37	NUM
ajfa-11077	300	71	(	(	PUNCT
ajfa-11077	300	72	1.40	1.40	NUM
ajfa-11077	300	73	)	)	PUNCT
ajfa-11077	300	74	-0.27	-0.27	NOUN
ajfa-11077	300	75	(	(	PUNCT
ajfa-11077	300	76	0.33	0.33	NUM
ajfa-11077	300	77	)	)	PUNCT
ajfa-11077	300	78	-0.25	-0.25	NUM
ajfa-11077	300	79	*	*	PUNCT
ajfa-11077	300	80	*	*	PUNCT
ajfa-11077	300	81	(	(	PUNCT
ajfa-11077	300	82	0.11	0.11	NUM
ajfa-11077	300	83	)	)	PUNCT
ajfa-11077	300	84	eur	eur	NOUN
ajfa-11077	300	85	-0.11	-0.11	X
ajfa-11077	300	86	(	(	PUNCT
ajfa-11077	300	87	0.08	0.08	NUM
ajfa-11077	300	88	)	)	PUNCT
ajfa-11077	300	89	-0.07	-0.07	NOUN
ajfa-11077	300	90	*	*	PUNCT
ajfa-11077	300	91	(	(	PUNCT
ajfa-11077	300	92	0.04	0.04	NUM
ajfa-11077	300	93	)	)	PUNCT
ajfa-11077	300	94	-0.00	-0.00	NUM
ajfa-11077	300	95	(	(	PUNCT
ajfa-11077	300	96	0.34	0.34	NUM
ajfa-11077	300	97	)	)	PUNCT
ajfa-11077	300	98	-0.10	-0.10	NUM
ajfa-11077	300	99	(	(	PUNCT
ajfa-11077	300	100	0.13	0.13	NUM
ajfa-11077	300	101	)	)	PUNCT
ajfa-11077	300	102	krw	krw	NOUN
ajfa-11077	300	103	0.05	0.05	NUM
ajfa-11077	300	104	(	(	PUNCT
ajfa-11077	300	105	0.06	0.06	NUM
ajfa-11077	300	106	)	)	PUNCT
ajfa-11077	300	107	0.08	0.08	NUM
ajfa-11077	300	108	*	*	SYM
ajfa-11077	300	109	(	(	PUNCT
ajfa-11077	300	110	0.04	0.04	NUM
ajfa-11077	300	111	)	)	PUNCT
ajfa-11077	300	112	0.47	0.47	NUM
ajfa-11077	300	113	(	(	PUNCT
ajfa-11077	300	114	0.46	0.46	NUM
ajfa-11077	300	115	)	)	PUNCT
ajfa-11077	300	116	0.08	0.08	NUM
ajfa-11077	300	117	(	(	PUNCT
ajfa-11077	300	118	0.11	0.11	NUM
ajfa-11077	300	119	)	)	PUNCT
ajfa-11077	300	120	gbp	gbp	NOUN
ajfa-11077	300	121	0.00	0.00	NUM
ajfa-11077	300	122	(	(	PUNCT
ajfa-11077	300	123	0.07	0.07	NUM
ajfa-11077	300	124	)	)	PUNCT
ajfa-11077	300	125	-0.19	-0.19	NOUN
ajfa-11077	300	126	(	(	PUNCT
ajfa-11077	300	127	0.42	0.42	NUM
ajfa-11077	300	128	)	)	PUNCT
ajfa-11077	300	129	-0.04	-0.04	NUM
ajfa-11077	300	130	(	(	PUNCT
ajfa-11077	300	131	0.12	0.12	NUM
ajfa-11077	300	132	)	)	PUNCT
ajfa-11077	300	133	sgd	sgd	NOUN
ajfa-11077	300	134	0.22	0.22	NUM
ajfa-11077	300	135	(	(	PUNCT
ajfa-11077	300	136	0.20	0.20	NUM
ajfa-11077	300	137	)	)	PUNCT
ajfa-11077	300	138	4.02	4.02	NUM
ajfa-11077	300	139	*	*	PUNCT
ajfa-11077	300	140	*	*	PUNCT
ajfa-11077	300	141	(	(	PUNCT
ajfa-11077	300	142	1.70	1.70	NUM
ajfa-11077	300	143	)	)	PUNCT
ajfa-11077	300	144	1.74	1.74	NUM
ajfa-11077	300	145	*	*	PUNCT
ajfa-11077	300	146	*	*	PUNCT
ajfa-11077	300	147	(	(	PUNCT
ajfa-11077	300	148	0.62	0.62	NUM
ajfa-11077	300	149	)	)	PUNCT
ajfa-11077	300	150	0.34	0.34	NUM
ajfa-11077	300	151	(	(	PUNCT
ajfa-11077	300	152	0.34	0.34	NUM
ajfa-11077	300	153	)	)	PUNCT
ajfa-11077	300	154	0.39	0.39	NUM
ajfa-11077	300	155	*	*	PUNCT
ajfa-11077	300	156	*	*	PUNCT
ajfa-11077	300	157	(	(	PUNCT
ajfa-11077	300	158	0.19	0.19	NUM
ajfa-11077	300	159	)	)	PUNCT
ajfa-11077	300	160	aud	aud	NOUN
ajfa-11077	300	161	-0.00	-0.00	PUNCT
ajfa-11077	300	162	(	(	PUNCT
ajfa-11077	300	163	0.20	0.20	NUM
ajfa-11077	300	164	)	)	PUNCT
ajfa-11077	300	165	-0.63	-0.63	NOUN
ajfa-11077	300	166	(	(	PUNCT
ajfa-11077	300	167	0.50	0.50	NUM
ajfa-11077	300	168	)	)	PUNCT
ajfa-11077	300	169	0.06	0.06	NUM
ajfa-11077	300	170	(	(	PUNCT
ajfa-11077	300	171	0.10	0.10	NUM
ajfa-11077	300	172	)	)	PUNCT
ajfa-11077	300	173	idr	idr	NOUN
ajfa-11077	300	174	0.02	0.02	NUM
ajfa-11077	300	175	(	(	PUNCT
ajfa-11077	300	176	0.05	0.05	NUM
ajfa-11077	300	177	)	)	PUNCT
ajfa-11077	300	178	0.12	0.12	NUM
ajfa-11077	300	179	(	(	PUNCT
ajfa-11077	300	180	0.28	0.28	NUM
ajfa-11077	300	181	)	)	PUNCT
ajfa-11077	300	182	-0.13	-0.13	NOUN
ajfa-11077	300	183	*	*	PUNCT
ajfa-11077	300	184	(	(	PUNCT
ajfa-11077	300	185	0.07	0.07	NUM
ajfa-11077	300	186	)	)	PUNCT
ajfa-11077	300	187	-0.09	-0.09	NUM
ajfa-11077	300	188	*	*	PUNCT
ajfa-11077	300	189	(	(	PUNCT
ajfa-11077	300	190	0.05	0.05	NUM
ajfa-11077	300	191	)	)	PUNCT
ajfa-11077	300	192	thb	thb	NOUN
ajfa-11077	300	193	0.11	0.11	NUM
ajfa-11077	300	194	(	(	PUNCT
ajfa-11077	300	195	0.09	0.09	NUM
ajfa-11077	300	196	)	)	PUNCT
ajfa-11077	300	197	0.10	0.10	NUM
ajfa-11077	300	198	*	*	SYM
ajfa-11077	300	199	(	(	PUNCT
ajfa-11077	300	200	0.06	0.06	NUM
ajfa-11077	300	201	)	)	PUNCT
ajfa-11077	300	202	-0.52	-0.52	NUM
ajfa-11077	300	203	(	(	PUNCT
ajfa-11077	300	204	0.77	0.77	NUM
ajfa-11077	300	205	)	)	PUNCT
ajfa-11077	300	206	0.02	0.02	NUM
ajfa-11077	300	207	(	(	PUNCT
ajfa-11077	300	208	0.16	0.16	NUM
ajfa-11077	300	209	)	)	PUNCT
ajfa-11077	300	210	myr	myr	PROPN
ajfa-11077	300	211	-0.06	-0.06	PROPN
ajfa-11077	300	212	(	(	PUNCT
ajfa-11077	300	213	0.11	0.11	NUM
ajfa-11077	300	214	)	)	PUNCT
ajfa-11077	300	215	-1.36	-1.36	NOUN
ajfa-11077	300	216	*	*	PUNCT
ajfa-11077	300	217	*	*	PUNCT
ajfa-11077	300	218	(	(	PUNCT
ajfa-11077	300	219	0.56	0.56	NUM
ajfa-11077	300	220	)	)	PUNCT
ajfa-11077	300	221	-0.68	-0.68	NOUN
ajfa-11077	300	222	*	*	PUNCT
ajfa-11077	300	223	*	*	PUNCT
ajfa-11077	300	224	(	(	PUNCT
ajfa-11077	300	225	0.29	0.29	NUM
ajfa-11077	300	226	)	)	PUNCT
ajfa-11077	300	227	-0.01	-0.01	NUM
ajfa-11077	300	228	(	(	PUNCT
ajfa-11077	300	229	0.18	0.18	NUM
ajfa-11077	300	230	)	)	PUNCT
ajfa-11077	300	231	php	php	NOUN
ajfa-11077	300	232	-0.11	-0.11	X
ajfa-11077	300	233	(	(	PUNCT
ajfa-11077	300	234	0.08	0.08	NUM
ajfa-11077	300	235	)	)	PUNCT
ajfa-11077	300	236	0.92	0.92	NUM
ajfa-11077	300	237	(	(	PUNCT
ajfa-11077	300	238	1.24	1.24	NUM
ajfa-11077	300	239	)	)	PUNCT
ajfa-11077	300	240	0.05	0.05	NUM
ajfa-11077	300	241	(	(	PUNCT
ajfa-11077	300	242	0.13	0.13	NUM
ajfa-11077	300	243	)	)	PUNCT
ajfa-11077	300	244	lag1	lag1	NOUN
ajfa-11077	300	245	-0.90	-0.90	PRON
ajfa-11077	300	246	*	*	NOUN
ajfa-11077	300	247	*	*	PUNCT
ajfa-11077	300	248	*	*	PUNCT
ajfa-11077	300	249	(	(	PUNCT
ajfa-11077	300	250	0.15	0.15	NUM
ajfa-11077	300	251	)	)	PUNCT
ajfa-11077	300	252	-0.88	-0.88	NOUN
ajfa-11077	300	253	*	*	PUNCT
ajfa-11077	300	254	*	*	PUNCT
ajfa-11077	300	255	*	*	PUNCT
ajfa-11077	300	256	(	(	PUNCT
ajfa-11077	300	257	0.12	0.12	NUM
ajfa-11077	300	258	)	)	PUNCT
ajfa-11077	300	259	-1.27	-1.27	NOUN
ajfa-11077	300	260	*	*	PUNCT
ajfa-11077	300	261	*	*	PUNCT
ajfa-11077	300	262	*	*	PUNCT
ajfa-11077	300	263	(	(	PUNCT
ajfa-11077	300	264	0.37	0.37	NUM
ajfa-11077	300	265	)	)	PUNCT
ajfa-11077	300	266	-0.64	-0.64	NOUN
ajfa-11077	300	267	*	*	PUNCT
ajfa-11077	300	268	*	*	PUNCT
ajfa-11077	300	269	*	*	PUNCT
ajfa-11077	300	270	(	(	PUNCT
ajfa-11077	300	271	0.18	0.18	NUM
ajfa-11077	300	272	)	)	PUNCT
ajfa-11077	300	273	-0.61	-0.61	NOUN
ajfa-11077	300	274	*	*	PUNCT
ajfa-11077	300	275	*	*	PUNCT
ajfa-11077	300	276	*	*	PUNCT
ajfa-11077	300	277	(	(	PUNCT
ajfa-11077	300	278	0.15	0.15	NUM
ajfa-11077	300	279	)	)	PUNCT
ajfa-11077	300	280	-0.61	-0.61	NOUN
ajfa-11077	300	281	*	*	PUNCT
ajfa-11077	300	282	*	*	PUNCT
ajfa-11077	300	283	*	*	PUNCT
ajfa-11077	300	284	(	(	PUNCT
ajfa-11077	300	285	0.12	0.12	NUM
ajfa-11077	300	286	)	)	PUNCT
ajfa-11077	300	287	lag2	lag2	NOUN
ajfa-11077	300	288	-0.67	-0.67	INTJ
ajfa-11077	300	289	*	*	PUNCT
ajfa-11077	300	290	*	*	PUNCT
ajfa-11077	300	291	*	*	PUNCT
ajfa-11077	300	292	(	(	PUNCT
ajfa-11077	300	293	0.19	0.19	NUM
ajfa-11077	300	294	)	)	PUNCT
ajfa-11077	300	295	-0.58	-0.58	NOUN
ajfa-11077	300	296	*	*	NOUN
ajfa-11077	300	297	*	*	PUNCT
ajfa-11077	300	298	(	(	PUNCT
ajfa-11077	300	299	0.15	0.15	NUM
ajfa-11077	300	300	)	)	PUNCT
ajfa-11077	300	301	-0.15	-0.15	NUM
ajfa-11077	300	302	(	(	PUNCT
ajfa-11077	300	303	0.43	0.43	NUM
ajfa-11077	300	304	)	)	PUNCT
ajfa-11077	300	305	-0.66	-0.66	NOUN
ajfa-11077	300	306	*	*	NOUN
ajfa-11077	300	307	*	*	PUNCT
ajfa-11077	300	308	*	*	PUNCT
ajfa-11077	300	309	(	(	PUNCT
ajfa-11077	300	310	0.16	0.16	NUM
ajfa-11077	300	311	)	)	PUNCT
ajfa-11077	300	312	-0.63	-0.63	NOUN
ajfa-11077	300	313	*	*	PUNCT
ajfa-11077	300	314	*	*	PUNCT
ajfa-11077	300	315	*	*	PUNCT
ajfa-11077	300	316	(	(	PUNCT
ajfa-11077	300	317	0.12	0.12	NUM
ajfa-11077	300	318	)	)	PUNCT
ajfa-11077	300	319	lag	lag	VERB
ajfa-11077	300	320	3	3	NUM
ajfa-11077	300	321	0.41	0.41	NUM
ajfa-11077	300	322	*	*	PUNCT
ajfa-11077	300	323	*	*	PUNCT
ajfa-11077	300	324	(	(	PUNCT
ajfa-11077	300	325	0.19	0.19	NUM
ajfa-11077	300	326	)	)	PUNCT
ajfa-11077	300	327	-0.42	-0.42	NOUN
ajfa-11077	300	328	*	*	NOUN
ajfa-11077	300	329	*	*	PUNCT
ajfa-11077	300	330	*	*	PUNCT
ajfa-11077	300	331	(	(	PUNCT
ajfa-11077	300	332	0.18	0.18	NUM
ajfa-11077	300	333	)	)	PUNCT
ajfa-11077	300	334	0.20	0.20	NUM
ajfa-11077	300	335	(	(	PUNCT
ajfa-11077	300	336	0.33	0.33	NUM
ajfa-11077	300	337	)	)	PUNCT
ajfa-11077	300	338	-0.49	-0.49	NOUN
ajfa-11077	300	339	*	*	NOUN
ajfa-11077	300	340	*	*	PUNCT
ajfa-11077	300	341	*	*	PUNCT
ajfa-11077	300	342	(	(	PUNCT
ajfa-11077	300	343	0.16	0.16	NUM
ajfa-11077	300	344	)	)	PUNCT
ajfa-11077	300	345	-0.46	-0.46	NOUN
ajfa-11077	300	346	*	*	PUNCT
ajfa-11077	300	347	*	*	PUNCT
ajfa-11077	300	348	*	*	PUNCT
ajfa-11077	300	349	(	(	PUNCT
ajfa-11077	300	350	0.12	0.12	NUM
ajfa-11077	300	351	)	)	PUNCT
ajfa-11077	300	352	lag4	lag4	PROPN
ajfa-11077	300	353	-0.04	-0.04	X
ajfa-11077	300	354	(	(	PUNCT
ajfa-11077	300	355	0.15	0.15	NUM
ajfa-11077	300	356	)	)	PUNCT
ajfa-11077	300	357	0.33	0.33	NUM
ajfa-11077	300	358	(	(	PUNCT
ajfa-11077	300	359	0.28	0.28	NUM
ajfa-11077	300	360	)	)	PUNCT
ajfa-11077	300	361	-0.01	-0.01	NUM
ajfa-11077	300	362	(	(	PUNCT
ajfa-11077	300	363	0.16	0.16	NUM
ajfa-11077	300	364	)	)	PUNCT
ajfa-11077	300	365	size	size	NOUN
ajfa-11077	300	366	-0.39	-0.39	NUM
ajfa-11077	300	367	(	(	PUNCT
ajfa-11077	300	368	0.57	0.57	NUM
ajfa-11077	300	369	)	)	PUNCT
ajfa-11077	300	370	-24.32	-24.32	NOUN
ajfa-11077	300	371	(	(	PUNCT
ajfa-11077	300	372	13.46	13.46	NUM
ajfa-11077	300	373	)	)	PUNCT
ajfa-11077	300	374	-10.28	-10.28	NOUN
ajfa-11077	301	1	*	*	PUNCT
ajfa-11077	301	2	*	*	PUNCT
ajfa-11077	301	3	(	(	PUNCT
ajfa-11077	301	4	4.86	4.86	NUM
ajfa-11077	301	5	)	)	PUNCT
ajfa-11077	301	6	-1.26	-1.26	NUM
ajfa-11077	301	7	(	(	PUNCT
ajfa-11077	301	8	1.13	1.13	NUM
ajfa-11077	301	9	)	)	PUNCT
ajfa-11077	301	10	adj	adj	PROPN
ajfa-11077	301	11	.	.	PUNCT
ajfa-11077	301	12	r2	r2	PROPN
ajfa-11077	301	13	0.51	0.51	NUM
ajfa-11077	301	14	0.54	0.54	NUM
ajfa-11077	301	15	0.16	0.16	NUM
ajfa-11077	301	16	0.32	0.32	NUM
ajfa-11077	301	17	0.30	0.30	NUM
ajfa-11077	301	18	0.39	0.39	NUM
ajfa-11077	301	19	asian	asian	ADJ
ajfa-11077	301	20	journal	journal	NOUN
ajfa-11077	301	21	of	of	ADP
ajfa-11077	301	22	finance	finance	PROPN
ajfa-11077	301	23	&	&	CCONJ
ajfa-11077	301	24	accounting	accounting	PROPN
ajfa-11077	301	25	issn	issn	PROPN
ajfa-11077	301	26	1946	1946	NUM
ajfa-11077	301	27	-	-	PUNCT
ajfa-11077	301	28	052x	052x	PROPN
ajfa-11077	301	29	2017	2017	NUM
ajfa-11077	301	30	,	,	PUNCT
ajfa-11077	301	31	vol	vol	NOUN
ajfa-11077	301	32	.	.	NOUN
ajfa-11077	301	33	9	9	NUM
ajfa-11077	301	34	,	,	PUNCT
ajfa-11077	301	35	no	no	INTJ
ajfa-11077	301	36	.	.	NOUN
ajfa-11077	301	37	1	1	NUM
ajfa-11077	301	38	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-11077	301	39	297	297	NUM
ajfa-11077	301	40	obs	ob	NOUN
ajfa-11077	301	41	.	.	PUNCT
ajfa-11077	302	1	58	58	NUM
ajfa-11077	302	2	58	58	NUM
ajfa-11077	302	3	27	27	NUM
ajfa-11077	302	4	27	27	NUM
ajfa-11077	302	5	58	58	NUM
ajfa-11077	302	6	58	58	NUM
ajfa-11077	302	7	table	table	NOUN
ajfa-11077	302	8	5	5	NUM
ajfa-11077	302	9	.	.	PUNCT
ajfa-11077	302	10	regression	regression	NOUN
ajfa-11077	302	11	on	on	ADP
ajfa-11077	302	12	roe	roe	PROPN
ajfa-11077	302	13	(	(	PUNCT
ajfa-11077	302	14	continued	continued	ADJ
ajfa-11077	302	15	)	)	PUNCT
ajfa-11077	302	16	company	company	NOUN
ajfa-11077	302	17	first	first	ADJ
ajfa-11077	302	18	hotel	hotel	PROPN
ajfa-11077	302	19	company	company	PROPN
ajfa-11077	302	20	ltd	ltd	PROPN
ajfa-11077	302	21	.	.	PROPN
ajfa-11077	303	1	(	(	PUNCT
ajfa-11077	303	2	2706	2706	NUM
ajfa-11077	303	3	)	)	PUNCT
ajfa-11077	303	4	pleasant	pleasant	ADJ
ajfa-11077	303	5	hotels	hotel	NOUN
ajfa-11077	303	6	international	international	ADJ
ajfa-11077	303	7	inc.(2718	inc.(2718	PROPN
ajfa-11077	303	8	)	)	PUNCT
ajfa-11077	303	9	chateau	chateau	NOUN
ajfa-11077	303	10	international	international	PROPN
ajfa-11077	303	11	development	development	PROPN
ajfa-11077	303	12	co.	co.	PROPN
ajfa-11077	303	13	,	,	PUNCT
ajfa-11077	303	14	ltd	ltd	PROPN
ajfa-11077	303	15	.	.	PROPN
ajfa-11077	303	16	(	(	PUNCT
ajfa-11077	303	17	2722	2722	NUM
ajfa-11077	303	18	)	)	PUNCT
ajfa-11077	303	19	variables	variable	NOUN
ajfa-11077	303	20	model	model	NOUN
ajfa-11077	303	21	i	i	PRON
ajfa-11077	303	22	model	model	PROPN
ajfa-11077	303	23	ii	ii	PROPN
ajfa-11077	303	24	model	model	NOUN
ajfa-11077	304	1	i	i	PRON
ajfa-11077	304	2	model	model	PROPN
ajfa-11077	304	3	ii	ii	PROPN
ajfa-11077	304	4	model	model	NOUN
ajfa-11077	304	5	i	i	PRON
ajfa-11077	304	6	model	model	VERB
ajfa-11077	304	7	ii	ii	PROPN
ajfa-11077	304	8	const	const	PROPN
ajfa-11077	304	9	.	.	PUNCT
ajfa-11077	305	1	-21.59	-21.59	VERB
ajfa-11077	305	2	(	(	PUNCT
ajfa-11077	305	3	37.72	37.72	NUM
ajfa-11077	305	4	)	)	PUNCT
ajfa-11077	305	5	0.84	0.84	NUM
ajfa-11077	305	6	*	*	PUNCT
ajfa-11077	305	7	*	*	PUNCT
ajfa-11077	305	8	(	(	PUNCT
ajfa-11077	305	9	0.38	0.38	NUM
ajfa-11077	305	10	)	)	PUNCT
ajfa-11077	305	11	31.69	31.69	NUM
ajfa-11077	305	12	(	(	PUNCT
ajfa-11077	305	13	89.17	89.17	NUM
ajfa-11077	305	14	)	)	PUNCT
ajfa-11077	305	15	0.98	0.98	NUM
ajfa-11077	305	16	*	*	PUNCT
ajfa-11077	305	17	*	*	PUNCT
ajfa-11077	305	18	*	*	PUNCT
ajfa-11077	305	19	(	(	PUNCT
ajfa-11077	305	20	0.18	0.18	NUM
ajfa-11077	305	21	)	)	PUNCT
ajfa-11077	305	22	-2289	-2289	NOUN
ajfa-11077	305	23	*	*	PUNCT
ajfa-11077	305	24	*	*	PUNCT
ajfa-11077	305	25	(	(	PUNCT
ajfa-11077	305	26	737.7	737.7	NUM
ajfa-11077	305	27	)	)	PUNCT
ajfa-11077	305	28	-0.44	-0.44	NOUN
ajfa-11077	305	29	(	(	PUNCT
ajfa-11077	305	30	1.05	1.05	NUM
ajfa-11077	305	31	)	)	PUNCT
ajfa-11077	305	32	rmrf	rmrf	NOUN
ajfa-11077	305	33	0.05	0.05	NUM
ajfa-11077	305	34	*	*	SYM
ajfa-11077	305	35	(	(	PUNCT
ajfa-11077	305	36	0.02	0.02	NUM
ajfa-11077	305	37	)	)	PUNCT
ajfa-11077	305	38	0.05	0.05	NUM
ajfa-11077	305	39	*	*	PUNCT
ajfa-11077	305	40	*	*	PUNCT
ajfa-11077	305	41	*	*	PUNCT
ajfa-11077	305	42	(	(	PUNCT
ajfa-11077	305	43	0.01	0.01	NUM
ajfa-11077	305	44	)	)	PUNCT
ajfa-11077	305	45	-0.15	-0.15	NUM
ajfa-11077	305	46	(	(	PUNCT
ajfa-11077	305	47	0.15	0.15	NUM
ajfa-11077	305	48	)	)	PUNCT
ajfa-11077	305	49	-0.08	-0.08	NOUN
ajfa-11077	305	50	*	*	PUNCT
ajfa-11077	305	51	(	(	PUNCT
ajfa-11077	305	52	0.04	0.04	NUM
ajfa-11077	305	53	)	)	PUNCT
ajfa-11077	305	54	3.87	3.87	NUM
ajfa-11077	305	55	*	*	PUNCT
ajfa-11077	305	56	*	*	PUNCT
ajfa-11077	305	57	(	(	PUNCT
ajfa-11077	305	58	1.08	1.08	NUM
ajfa-11077	305	59	)	)	PUNCT
ajfa-11077	305	60	usd	usd	NOUN
ajfa-11077	305	61	0.39	0.39	NUM
ajfa-11077	305	62	*	*	PUNCT
ajfa-11077	305	63	*	*	PUNCT
ajfa-11077	305	64	(	(	PUNCT
ajfa-11077	305	65	1.74	1.74	NUM
ajfa-11077	305	66	)	)	PUNCT
ajfa-11077	305	67	0.12	0.12	NUM
ajfa-11077	305	68	*	*	PUNCT
ajfa-11077	305	69	*	*	PUNCT
ajfa-11077	305	70	*	*	PUNCT
ajfa-11077	305	71	(	(	PUNCT
ajfa-11077	305	72	0.04	0.04	NUM
ajfa-11077	305	73	)	)	PUNCT
ajfa-11077	305	74	1.77	1.77	NUM
ajfa-11077	305	75	(	(	PUNCT
ajfa-11077	305	76	1.66	1.66	NUM
ajfa-11077	305	77	)	)	PUNCT
ajfa-11077	305	78	0.85	0.85	NUM
ajfa-11077	305	79	*	*	PUNCT
ajfa-11077	305	80	*	*	PUNCT
ajfa-11077	305	81	*	*	PUNCT
ajfa-11077	305	82	(	(	PUNCT
ajfa-11077	305	83	0.21	0.21	NUM
ajfa-11077	305	84	)	)	PUNCT
ajfa-11077	305	85	-15.42	-15.42	NOUN
ajfa-11077	305	86	*	*	PUNCT
ajfa-11077	305	87	*	*	PUNCT
ajfa-11077	305	88	(	(	PUNCT
ajfa-11077	305	89	5.71	5.71	NUM
ajfa-11077	305	90	)	)	PUNCT
ajfa-11077	305	91	jpy	jpy	NOUN
ajfa-11077	305	92	0.04	0.04	NUM
ajfa-11077	305	93	(	(	PUNCT
ajfa-11077	305	94	0.03	0.03	NUM
ajfa-11077	305	95	)	)	PUNCT
ajfa-11077	305	96	-0.02	-0.02	NUM
ajfa-11077	305	97	(	(	PUNCT
ajfa-11077	305	98	0.18	0.18	NUM
ajfa-11077	305	99	)	)	PUNCT
ajfa-11077	305	100	3.60	3.60	NUM
ajfa-11077	305	101	*	*	PUNCT
ajfa-11077	305	102	*	*	PUNCT
ajfa-11077	305	103	(	(	PUNCT
ajfa-11077	305	104	1.03	1.03	NUM
ajfa-11077	305	105	)	)	PUNCT
ajfa-11077	305	106	cny	cny	NOUN
ajfa-11077	305	107	-0.31	-0.31	PROPN
ajfa-11077	305	108	*	*	X
ajfa-11077	305	109	(	(	PUNCT
ajfa-11077	305	110	0.16	0.16	NUM
ajfa-11077	305	111	)	)	PUNCT
ajfa-11077	305	112	-1.61	-1.61	NOUN
ajfa-11077	305	113	(	(	PUNCT
ajfa-11077	305	114	1.12	1.12	NUM
ajfa-11077	305	115	)	)	PUNCT
ajfa-11077	305	116	-1.04	-1.04	NOUN
ajfa-11077	305	117	*	*	PUNCT
ajfa-11077	305	118	*	*	PUNCT
ajfa-11077	305	119	*	*	PUNCT
ajfa-11077	305	120	(	(	PUNCT
ajfa-11077	305	121	0.21	0.21	NUM
ajfa-11077	305	122	)	)	PUNCT
ajfa-11077	305	123	14.08	14.08	NUM
ajfa-11077	305	124	*	*	PUNCT
ajfa-11077	305	125	*	*	PUNCT
ajfa-11077	305	126	(	(	PUNCT
ajfa-11077	305	127	5.14	5.14	NUM
ajfa-11077	305	128	)	)	PUNCT
ajfa-11077	305	129	eur	eur	NOUN
ajfa-11077	305	130	-0.05	-0.05	X
ajfa-11077	305	131	(	(	PUNCT
ajfa-11077	305	132	0.05	0.05	NUM
ajfa-11077	305	133	)	)	PUNCT
ajfa-11077	305	134	-0.37	-0.37	NUM
ajfa-11077	305	135	(	(	PUNCT
ajfa-11077	305	136	0.31	0.31	NUM
ajfa-11077	305	137	)	)	PUNCT
ajfa-11077	305	138	-0.24	-0.24	NOUN
ajfa-11077	305	139	*	*	PUNCT
ajfa-11077	305	140	*	*	PUNCT
ajfa-11077	305	141	*	*	PUNCT
ajfa-11077	305	142	(	(	PUNCT
ajfa-11077	305	143	0.06	0.06	NUM
ajfa-11077	305	144	)	)	PUNCT
ajfa-11077	305	145	8.86	8.86	NUM
ajfa-11077	305	146	*	*	SYM
ajfa-11077	305	147	*	*	PUNCT
ajfa-11077	305	148	(	(	PUNCT
ajfa-11077	305	149	2.67	2.67	NUM
ajfa-11077	305	150	)	)	PUNCT
ajfa-11077	305	151	krw	krw	PROPN
ajfa-11077	305	152	-0.04	-0.04	X
ajfa-11077	305	153	(	(	PUNCT
ajfa-11077	305	154	0.05	0.05	NUM
ajfa-11077	305	155	)	)	PUNCT
ajfa-11077	305	156	0.24	0.24	NUM
ajfa-11077	305	157	(	(	PUNCT
ajfa-11077	305	158	0.35	0.35	NUM
ajfa-11077	305	159	)	)	PUNCT
ajfa-11077	305	160	-6.07	-6.07	NOUN
ajfa-11077	305	161	*	*	PUNCT
ajfa-11077	305	162	*	*	PUNCT
ajfa-11077	305	163	(	(	PUNCT
ajfa-11077	305	164	2.03	2.03	NUM
ajfa-11077	305	165	)	)	PUNCT
ajfa-11077	305	166	gbp	gbp	NOUN
ajfa-11077	305	167	0.01	0.01	NUM
ajfa-11077	305	168	(	(	PUNCT
ajfa-11077	305	169	0.06	0.06	NUM
ajfa-11077	305	170	)	)	PUNCT
ajfa-11077	305	171	-0.35	-0.35	NUM
ajfa-11077	305	172	(	(	PUNCT
ajfa-11077	305	173	0.63	0.63	NUM
ajfa-11077	305	174	)	)	PUNCT
ajfa-11077	305	175	-7.56	-7.56	NUM
ajfa-11077	305	176	*	*	NOUN
ajfa-11077	305	177	*	*	PUNCT
ajfa-11077	305	178	(	(	PUNCT
ajfa-11077	305	179	2.03	2.03	NUM
ajfa-11077	305	180	)	)	PUNCT
ajfa-11077	305	181	sgd	sgd	PROPN
ajfa-11077	305	182	0.03	0.03	NUM
ajfa-11077	305	183	(	(	PUNCT
ajfa-11077	305	184	0.14	0.14	NUM
ajfa-11077	305	185	)	)	PUNCT
ajfa-11077	305	186	-0.76	-0.76	PROPN
ajfa-11077	305	187	(	(	PUNCT
ajfa-11077	305	188	0.72	0.72	NUM
ajfa-11077	305	189	)	)	PUNCT
ajfa-11077	305	190	-0.86	-0.86	NOUN
ajfa-11077	305	191	*	*	PUNCT
ajfa-11077	305	192	*	*	PUNCT
ajfa-11077	305	193	*	*	PUNCT
ajfa-11077	305	194	(	(	PUNCT
ajfa-11077	305	195	0.15	0.15	NUM
ajfa-11077	305	196	)	)	PUNCT
ajfa-11077	305	197	1.93	1.93	NUM
ajfa-11077	305	198	(	(	PUNCT
ajfa-11077	305	199	1.00	1.00	NUM
ajfa-11077	305	200	)	)	PUNCT
ajfa-11077	305	201	2.46	2.46	NUM
ajfa-11077	305	202	*	*	PUNCT
ajfa-11077	305	203	*	*	PUNCT
ajfa-11077	305	204	(	(	PUNCT
ajfa-11077	305	205	1.05	1.05	NUM
ajfa-11077	305	206	)	)	PUNCT
ajfa-11077	305	207	aud	aud	NOUN
ajfa-11077	305	208	0.03	0.03	NUM
ajfa-11077	305	209	(	(	PUNCT
ajfa-11077	305	210	0.05	0.05	NUM
ajfa-11077	305	211	)	)	PUNCT
ajfa-11077	305	212	0.25	0.25	NUM
ajfa-11077	305	213	(	(	PUNCT
ajfa-11077	305	214	0.21	0.21	NUM
ajfa-11077	305	215	)	)	PUNCT
ajfa-11077	305	216	0.16	0.16	NUM
ajfa-11077	305	217	*	*	PUNCT
ajfa-11077	305	218	*	*	PUNCT
ajfa-11077	305	219	(	(	PUNCT
ajfa-11077	305	220	0.07	0.07	NUM
ajfa-11077	305	221	)	)	PUNCT
ajfa-11077	305	222	-5.22	-5.22	NOUN
ajfa-11077	305	223	*	*	PUNCT
ajfa-11077	305	224	*	*	PUNCT
ajfa-11077	305	225	*	*	PUNCT
ajfa-11077	305	226	(	(	PUNCT
ajfa-11077	305	227	1.24	1.24	NUM
ajfa-11077	305	228	)	)	PUNCT
ajfa-11077	305	229	-0.77	-0.77	NOUN
ajfa-11077	305	230	*	*	PUNCT
ajfa-11077	305	231	*	*	PUNCT
ajfa-11077	305	232	(	(	PUNCT
ajfa-11077	305	233	0.36	0.36	NUM
ajfa-11077	305	234	)	)	PUNCT
ajfa-11077	305	235	idr	idr	PROPN
ajfa-11077	305	236	-0.04	-0.04	X
ajfa-11077	305	237	(	(	PUNCT
ajfa-11077	305	238	0.05	0.05	NUM
ajfa-11077	305	239	)	)	PUNCT
ajfa-11077	305	240	0.27	0.27	NUM
ajfa-11077	305	241	(	(	PUNCT
ajfa-11077	305	242	0.13	0.13	NUM
ajfa-11077	305	243	)	)	PUNCT
ajfa-11077	305	244	0.29	0.29	NUM
ajfa-11077	305	245	*	*	PUNCT
ajfa-11077	305	246	*	*	PUNCT
ajfa-11077	305	247	*	*	PUNCT
ajfa-11077	305	248	(	(	PUNCT
ajfa-11077	305	249	0.05	0.05	NUM
ajfa-11077	305	250	)	)	PUNCT
ajfa-11077	305	251	0.77	0.77	NUM
ajfa-11077	305	252	*	*	PUNCT
ajfa-11077	305	253	(	(	PUNCT
ajfa-11077	305	254	0.32	0.32	NUM
ajfa-11077	305	255	)	)	PUNCT
ajfa-11077	305	256	thb	thb	NOUN
ajfa-11077	305	257	0.05	0.05	NUM
ajfa-11077	305	258	(	(	PUNCT
ajfa-11077	305	259	0.07	0.07	NUM
ajfa-11077	305	260	)	)	PUNCT
ajfa-11077	305	261	0.77	0.77	NUM
ajfa-11077	305	262	(	(	PUNCT
ajfa-11077	305	263	0.50	0.50	NUM
ajfa-11077	305	264	)	)	PUNCT
ajfa-11077	305	265	0.74	0.74	NUM
ajfa-11077	305	266	*	*	PUNCT
ajfa-11077	305	267	*	*	PUNCT
ajfa-11077	305	268	*	*	PUNCT
ajfa-11077	305	269	(	(	PUNCT
ajfa-11077	305	270	0.17	0.17	NUM
ajfa-11077	305	271	)	)	PUNCT
ajfa-11077	305	272	-15.90	-15.90	NOUN
ajfa-11077	305	273	*	*	PUNCT
ajfa-11077	305	274	*	*	PUNCT
ajfa-11077	305	275	(	(	PUNCT
ajfa-11077	305	276	4.38	4.38	NUM
ajfa-11077	305	277	)	)	PUNCT
ajfa-11077	305	278	myr	myr	PROPN
ajfa-11077	305	279	-0.04	-0.04	PROPN
ajfa-11077	305	280	(	(	PUNCT
ajfa-11077	305	281	0.06	0.06	NUM
ajfa-11077	305	282	)	)	PUNCT
ajfa-11077	305	283	-0.13	-0.13	NUM
ajfa-11077	305	284	(	(	PUNCT
ajfa-11077	305	285	0.25	0.25	NUM
ajfa-11077	305	286	)	)	PUNCT
ajfa-11077	305	287	4.41	4.41	NUM
ajfa-11077	305	288	*	*	PUNCT
ajfa-11077	305	289	*	*	PUNCT
ajfa-11077	305	290	(	(	PUNCT
ajfa-11077	305	291	1.30	1.30	NUM
ajfa-11077	305	292	)	)	PUNCT
ajfa-11077	305	293	php	php	NOUN
ajfa-11077	305	294	-0.08	-0.08	PRON
ajfa-11077	305	295	(	(	PUNCT
ajfa-11077	305	296	0.11	0.11	NUM
ajfa-11077	305	297	)	)	PUNCT
ajfa-11077	305	298	-1.32	-1.32	NUM
ajfa-11077	305	299	(	(	PUNCT
ajfa-11077	305	300	0.67	0.67	NUM
ajfa-11077	305	301	)	)	PUNCT
ajfa-11077	305	302	-0.93	-0.93	NOUN
ajfa-11077	305	303	*	*	PUNCT
ajfa-11077	305	304	*	*	PUNCT
ajfa-11077	305	305	*	*	PUNCT
ajfa-11077	305	306	(	(	PUNCT
ajfa-11077	305	307	0.23	0.23	NUM
ajfa-11077	305	308	)	)	PUNCT
ajfa-11077	305	309	21.70	21.70	NUM
ajfa-11077	305	310	*	*	PUNCT
ajfa-11077	305	311	*	*	PUNCT
ajfa-11077	305	312	(	(	PUNCT
ajfa-11077	305	313	6.56	6.56	NUM
ajfa-11077	305	314	)	)	PUNCT
ajfa-11077	305	315	asian	asian	ADJ
ajfa-11077	305	316	journal	journal	NOUN
ajfa-11077	305	317	of	of	ADP
ajfa-11077	305	318	finance	finance	PROPN
ajfa-11077	305	319	&	&	CCONJ
ajfa-11077	305	320	accounting	accounting	PROPN
ajfa-11077	305	321	issn	issn	PROPN
ajfa-11077	305	322	1946	1946	NUM
ajfa-11077	305	323	-	-	PUNCT
ajfa-11077	305	324	052x	052x	PROPN
ajfa-11077	305	325	2017	2017	NUM
ajfa-11077	305	326	,	,	PUNCT
ajfa-11077	305	327	vol	vol	NOUN
ajfa-11077	305	328	.	.	NOUN
ajfa-11077	305	329	9	9	NUM
ajfa-11077	305	330	,	,	PUNCT
ajfa-11077	305	331	no	no	INTJ
ajfa-11077	305	332	.	.	NOUN
ajfa-11077	305	333	1	1	NUM
ajfa-11077	305	334	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	305	335	298	298	NUM
ajfa-11077	305	336	lag1	lag1	NOUN
ajfa-11077	305	337	-1.37	-1.37	VERB
ajfa-11077	305	338	*	*	PUNCT
ajfa-11077	305	339	*	*	PUNCT
ajfa-11077	305	340	*	*	PUNCT
ajfa-11077	305	341	(	(	PUNCT
ajfa-11077	305	342	0.18	0.18	NUM
ajfa-11077	305	343	)	)	PUNCT
ajfa-11077	305	344	-2.88	-2.88	NOUN
ajfa-11077	305	345	*	*	NOUN
ajfa-11077	305	346	*	*	PUNCT
ajfa-11077	305	347	*	*	PUNCT
ajfa-11077	305	348	(	(	PUNCT
ajfa-11077	305	349	0.37	0.37	NUM
ajfa-11077	305	350	)	)	PUNCT
ajfa-11077	305	351	-1.88	-1.88	NUM
ajfa-11077	305	352	(	(	PUNCT
ajfa-11077	305	353	0.55	0.55	NUM
ajfa-11077	305	354	)	)	PUNCT
ajfa-11077	305	355	-1.48	-1.48	X
ajfa-11077	305	356	*	*	PUNCT
ajfa-11077	305	357	*	*	PUNCT
ajfa-11077	305	358	*	*	PUNCT
ajfa-11077	305	359	(	(	PUNCT
ajfa-11077	305	360	0.12	0.12	NUM
ajfa-11077	305	361	)	)	PUNCT
ajfa-11077	305	362	lag2	lag2	NOUN
ajfa-11077	305	363	-0.31	-0.31	X
ajfa-11077	305	364	(	(	PUNCT
ajfa-11077	305	365	0.21	0.21	NUM
ajfa-11077	305	366	)	)	PUNCT
ajfa-11077	305	367	-0.82	-0.82	PROPN
ajfa-11077	305	368	*	*	NOUN
ajfa-11077	305	369	*	*	PUNCT
ajfa-11077	305	370	(	(	PUNCT
ajfa-11077	305	371	0.40	0.40	NUM
ajfa-11077	305	372	)	)	PUNCT
ajfa-11077	305	373	-1.50	-1.50	NOUN
ajfa-11077	305	374	(	(	PUNCT
ajfa-11077	305	375	0.55	0.55	NUM
ajfa-11077	305	376	)	)	PUNCT
ajfa-11077	305	377	-1.15	-1.15	NOUN
ajfa-11077	305	378	*	*	PUNCT
ajfa-11077	305	379	*	*	PUNCT
ajfa-11077	305	380	*	*	PUNCT
ajfa-11077	305	381	(	(	PUNCT
ajfa-11077	305	382	0.13	0.13	NUM
ajfa-11077	305	383	)	)	PUNCT
ajfa-11077	305	384	lag	lag	VERB
ajfa-11077	305	385	3	3	NUM
ajfa-11077	305	386	-0.19	-0.19	NOUN
ajfa-11077	305	387	(	(	PUNCT
ajfa-11077	305	388	0.24	0.24	NUM
ajfa-11077	305	389	)	)	PUNCT
ajfa-11077	305	390	-0.99	-0.99	NOUN
ajfa-11077	305	391	(	(	PUNCT
ajfa-11077	305	392	0.80	0.80	NUM
ajfa-11077	305	393	)	)	PUNCT
ajfa-11077	305	394	-0.44	-0.44	VERB
ajfa-11077	305	395	*	*	PUNCT
ajfa-11077	305	396	*	*	PUNCT
ajfa-11077	305	397	*	*	PUNCT
ajfa-11077	305	398	(	(	PUNCT
ajfa-11077	305	399	0.11	0.11	NUM
ajfa-11077	305	400	)	)	PUNCT
ajfa-11077	305	401	lag4	lag4	NOUN
ajfa-11077	305	402	0.50	0.50	NUM
ajfa-11077	305	403	*	*	PUNCT
ajfa-11077	306	1	*	*	PUNCT
ajfa-11077	307	1	(	(	PUNCT
ajfa-11077	307	2	0.21	0.21	NUM
ajfa-11077	307	3	)	)	PUNCT
ajfa-11077	307	4	1.86	1.86	NUM
ajfa-11077	307	5	*	*	PUNCT
ajfa-11077	307	6	*	*	PUNCT
ajfa-11077	307	7	*	*	PUNCT
ajfa-11077	307	8	(	(	PUNCT
ajfa-11077	307	9	0.36	0.36	NUM
ajfa-11077	307	10	)	)	PUNCT
ajfa-11077	307	11	-0.21	-0.21	NUM
ajfa-11077	307	12	(	(	PUNCT
ajfa-11077	307	13	0.29	0.29	NUM
ajfa-11077	307	14	)	)	PUNCT
ajfa-11077	307	15	size	size	NOUN
ajfa-11077	307	16	1.06	1.06	NUM
ajfa-11077	307	17	(	(	PUNCT
ajfa-11077	307	18	1.74	1.74	NUM
ajfa-11077	307	19	)	)	PUNCT
ajfa-11077	307	20	-1.51	-1.51	NOUN
ajfa-11077	307	21	(	(	PUNCT
ajfa-11077	307	22	4.37	4.37	NUM
ajfa-11077	307	23	)	)	PUNCT
ajfa-11077	307	24	108.51	108.51	NUM
ajfa-11077	307	25	*	*	PUNCT
ajfa-11077	307	26	*	*	PUNCT
ajfa-11077	307	27	(	(	PUNCT
ajfa-11077	307	28	34.93	34.93	NUM
ajfa-11077	307	29	)	)	PUNCT
ajfa-11077	307	30	adj	adj	PROPN
ajfa-11077	307	31	.	.	PUNCT
ajfa-11077	307	32	r2	r2	PROPN
ajfa-11077	307	33	0.87	0.87	NUM
ajfa-11077	307	34	0.85	0.85	NUM
ajfa-11077	307	35	0.77	0.77	NUM
ajfa-11077	307	36	0.92	0.92	NUM
ajfa-11077	307	37	0.74	0.74	NUM
ajfa-11077	307	38	0.18	0.18	NUM
ajfa-11077	307	39	obs	obs	PROPN
ajfa-11077	307	40	.	.	PUNCT
ajfa-11077	308	1	28	28	NUM
ajfa-11077	308	2	31	31	NUM
ajfa-11077	308	3	20	20	NUM
ajfa-11077	308	4	20	20	NUM
ajfa-11077	308	5	20	20	NUM
ajfa-11077	308	6	20	20	NUM
ajfa-11077	308	7	table	table	NOUN
ajfa-11077	308	8	5	5	NUM
ajfa-11077	308	9	.	.	PUNCT
ajfa-11077	308	10	regression	regression	NOUN
ajfa-11077	308	11	on	on	ADP
ajfa-11077	308	12	roe	roe	PROPN
ajfa-11077	308	13	(	(	PUNCT
ajfa-11077	308	14	continued	continued	ADJ
ajfa-11077	308	15	)	)	PUNCT
ajfa-11077	308	16	company	company	NOUN
ajfa-11077	308	17	janfusun	janfusun	PROPN
ajfa-11077	308	18	fancyworld	fancyworld	PROPN
ajfa-11077	308	19	corp	corp	PROPN
ajfa-11077	308	20	.	.	PROPN
ajfa-11077	308	21	(	(	PUNCT
ajfa-11077	308	22	5701	5701	NUM
ajfa-11077	308	23	)	)	PUNCT
ajfa-11077	308	24	the	the	DET
ajfa-11077	308	25	landis	landis	PROPN
ajfa-11077	308	26	taipei	taipei	PROPN
ajfa-11077	308	27	hotel	hotel	PROPN
ajfa-11077	308	28	co.	co.	PROPN
ajfa-11077	308	29	,	,	PUNCT
ajfa-11077	308	30	ltd	ltd	PROPN
ajfa-11077	308	31	.	.	PROPN
ajfa-11077	308	32	(	(	PUNCT
ajfa-11077	308	33	5703	5703	NUM
ajfa-11077	308	34	)	)	PUNCT
ajfa-11077	308	35	hotel	hotel	NOUN
ajfa-11077	308	36	royal	royal	NOUN
ajfa-11077	308	37	chihpen(5704	chihpen(5704	PROPN
ajfa-11077	308	38	)	)	PUNCT
ajfa-11077	308	39	variables	variable	NOUN
ajfa-11077	308	40	model	model	NOUN
ajfa-11077	309	1	i	i	PRON
ajfa-11077	309	2	model	model	PROPN
ajfa-11077	309	3	ii	ii	PROPN
ajfa-11077	309	4	model	model	NOUN
ajfa-11077	309	5	i	i	PRON
ajfa-11077	309	6	model	model	PROPN
ajfa-11077	309	7	ii	ii	PROPN
ajfa-11077	309	8	model	model	NOUN
ajfa-11077	309	9	i	i	PRON
ajfa-11077	309	10	model	model	VERB
ajfa-11077	309	11	ii	ii	PROPN
ajfa-11077	309	12	const	const	PROPN
ajfa-11077	309	13	.	.	PUNCT
ajfa-11077	310	1	55.72	55.72	NUM
ajfa-11077	310	2	(	(	PUNCT
ajfa-11077	310	3	141.90	141.90	NUM
ajfa-11077	310	4	)	)	PUNCT
ajfa-11077	310	5	0.04	0.04	NUM
ajfa-11077	310	6	(	(	PUNCT
ajfa-11077	310	7	0.42	0.42	NUM
ajfa-11077	310	8	)	)	PUNCT
ajfa-11077	310	9	70.20	70.20	NUM
ajfa-11077	310	10	(	(	PUNCT
ajfa-11077	310	11	69.75	69.75	NUM
ajfa-11077	310	12	)	)	PUNCT
ajfa-11077	310	13	-0.28	-0.28	NOUN
ajfa-11077	310	14	(	(	PUNCT
ajfa-11077	310	15	0.23	0.23	NUM
ajfa-11077	310	16	)	)	PUNCT
ajfa-11077	310	17	39.26	39.26	NUM
ajfa-11077	310	18	*	*	PUNCT
ajfa-11077	310	19	(	(	PUNCT
ajfa-11077	310	20	21.32	21.32	NUM
ajfa-11077	310	21	)	)	PUNCT
ajfa-11077	310	22	0.02	0.02	NUM
ajfa-11077	310	23	(	(	PUNCT
ajfa-11077	310	24	0.14	0.14	NUM
ajfa-11077	310	25	)	)	PUNCT
ajfa-11077	310	26	rmrf	rmrf	NOUN
ajfa-11077	310	27	0.09	0.09	NUM
ajfa-11077	310	28	(	(	PUNCT
ajfa-11077	310	29	0.33	0.33	NUM
ajfa-11077	310	30	)	)	PUNCT
ajfa-11077	310	31	0.07	0.07	NUM
ajfa-11077	310	32	(	(	PUNCT
ajfa-11077	310	33	0.04	0.04	NUM
ajfa-11077	310	34	)	)	PUNCT
ajfa-11077	310	35	0.06	0.06	NUM
ajfa-11077	310	36	*	*	PUNCT
ajfa-11077	310	37	*	*	PUNCT
ajfa-11077	310	38	(	(	PUNCT
ajfa-11077	310	39	0.02	0.02	NUM
ajfa-11077	310	40	)	)	PUNCT
ajfa-11077	310	41	0.04	0.04	NUM
ajfa-11077	310	42	*	*	PUNCT
ajfa-11077	310	43	*	*	PUNCT
ajfa-11077	310	44	(	(	PUNCT
ajfa-11077	310	45	0.02	0.02	NUM
ajfa-11077	310	46	)	)	PUNCT
ajfa-11077	310	47	usd	usd	NOUN
ajfa-11077	310	48	0.11	0.11	NUM
ajfa-11077	310	49	(	(	PUNCT
ajfa-11077	310	50	1.45	1.45	NUM
ajfa-11077	310	51	)	)	PUNCT
ajfa-11077	310	52	0.17	0.17	NUM
ajfa-11077	310	53	(	(	PUNCT
ajfa-11077	310	54	0.33	0.33	NUM
ajfa-11077	310	55	)	)	PUNCT
ajfa-11077	310	56	0.04	0.04	NUM
ajfa-11077	310	57	(	(	PUNCT
ajfa-11077	310	58	0.19	0.19	NUM
ajfa-11077	310	59	)	)	PUNCT
ajfa-11077	310	60	jpy	jpy	PROPN
ajfa-11077	310	61	0.12	0.12	NUM
ajfa-11077	310	62	(	(	PUNCT
ajfa-11077	310	63	0.35	0.35	NUM
ajfa-11077	310	64	)	)	PUNCT
ajfa-11077	310	65	-0.15	-0.15	NUM
ajfa-11077	310	66	(	(	PUNCT
ajfa-11077	310	67	0.10	0.10	NUM
ajfa-11077	310	68	)	)	PUNCT
ajfa-11077	310	69	-0.15	-0.15	NOUN
ajfa-11077	310	70	*	*	PUNCT
ajfa-11077	310	71	*	*	PUNCT
ajfa-11077	310	72	(	(	PUNCT
ajfa-11077	310	73	0.06	0.06	NUM
ajfa-11077	310	74	)	)	PUNCT
ajfa-11077	310	75	0.08	0.08	NUM
ajfa-11077	310	76	(	(	PUNCT
ajfa-11077	310	77	0.05	0.05	NUM
ajfa-11077	310	78	)	)	PUNCT
ajfa-11077	310	79	cny	cny	NOUN
ajfa-11077	310	80	0.01	0.01	NUM
ajfa-11077	310	81	(	(	PUNCT
ajfa-11077	310	82	1.23	1.23	NUM
ajfa-11077	310	83	)	)	PUNCT
ajfa-11077	310	84	0.11	0.11	NUM
ajfa-11077	310	85	(	(	PUNCT
ajfa-11077	310	86	0.37	0.37	NUM
ajfa-11077	310	87	)	)	PUNCT
ajfa-11077	310	88	0.28	0.28	NUM
ajfa-11077	310	89	(	(	PUNCT
ajfa-11077	310	90	0.21	0.21	NUM
ajfa-11077	310	91	)	)	PUNCT
ajfa-11077	310	92	0.25	0.25	NUM
ajfa-11077	310	93	*	*	PUNCT
ajfa-11077	310	94	*	*	PUNCT
ajfa-11077	310	95	*	*	PUNCT
ajfa-11077	310	96	(	(	PUNCT
ajfa-11077	310	97	0.08	0.08	NUM
ajfa-11077	310	98	)	)	PUNCT
ajfa-11077	310	99	eur	eur	NOUN
ajfa-11077	310	100	0.12	0.12	NUM
ajfa-11077	310	101	(	(	PUNCT
ajfa-11077	310	102	0.45	0.45	NUM
ajfa-11077	310	103	)	)	PUNCT
ajfa-11077	310	104	-0.15	-0.15	NUM
ajfa-11077	310	105	(	(	PUNCT
ajfa-11077	310	106	0.14	0.14	NUM
ajfa-11077	310	107	)	)	PUNCT
ajfa-11077	310	108	-0.25	-0.25	NUM
ajfa-11077	310	109	*	*	PUNCT
ajfa-11077	310	110	*	*	PUNCT
ajfa-11077	310	111	*	*	PUNCT
ajfa-11077	310	112	(	(	PUNCT
ajfa-11077	310	113	0.09	0.09	NUM
ajfa-11077	310	114	)	)	PUNCT
ajfa-11077	310	115	0.02	0.02	NUM
ajfa-11077	310	116	(	(	PUNCT
ajfa-11077	310	117	0.08	0.08	NUM
ajfa-11077	310	118	)	)	PUNCT
ajfa-11077	310	119	krw	krw	PROPN
ajfa-11077	310	120	0.37	0.37	NUM
ajfa-11077	310	121	(	(	PUNCT
ajfa-11077	310	122	0.72	0.72	NUM
ajfa-11077	310	123	)	)	PUNCT
ajfa-11077	310	124	0.08	0.08	NUM
ajfa-11077	310	125	(	(	PUNCT
ajfa-11077	310	126	0.12	0.12	NUM
ajfa-11077	310	127	)	)	PUNCT
ajfa-11077	310	128	0.30	0.30	NUM
ajfa-11077	310	129	*	*	PUNCT
ajfa-11077	310	130	*	*	PUNCT
ajfa-11077	310	131	*	*	PUNCT
ajfa-11077	310	132	(	(	PUNCT
ajfa-11077	310	133	0.07	0.07	NUM
ajfa-11077	310	134	)	)	PUNCT
ajfa-11077	310	135	0.18	0.18	NUM
ajfa-11077	310	136	*	*	PUNCT
ajfa-11077	310	137	*	*	PUNCT
ajfa-11077	310	138	*	*	PUNCT
ajfa-11077	310	139	(	(	PUNCT
ajfa-11077	310	140	0.05	0.05	NUM
ajfa-11077	310	141	)	)	PUNCT
ajfa-11077	310	142	gbp	gbp	NOUN
ajfa-11077	310	143	-0.59	-0.59	NUM
ajfa-11077	310	144	(	(	PUNCT
ajfa-11077	310	145	0.43	0.43	NUM
ajfa-11077	310	146	)	)	PUNCT
ajfa-11077	310	147	-0.31	-0.31	PROPN
ajfa-11077	310	148	*	*	PUNCT
ajfa-11077	310	149	*	*	PUNCT
ajfa-11077	310	150	(	(	PUNCT
ajfa-11077	310	151	0.14	0.14	NUM
ajfa-11077	310	152	)	)	PUNCT
ajfa-11077	310	153	-0.02	-0.02	NUM
ajfa-11077	310	154	(	(	PUNCT
ajfa-11077	310	155	0.14	0.14	NUM
ajfa-11077	310	156	)	)	PUNCT
ajfa-11077	310	157	-0.09	-0.09	NUM
ajfa-11077	310	158	(	(	PUNCT
ajfa-11077	310	159	0.08	0.08	NUM
ajfa-11077	310	160	)	)	PUNCT
ajfa-11077	310	161	sgd	sgd	PROPN
ajfa-11077	310	162	0.16	0.16	NUM
ajfa-11077	310	163	(	(	PUNCT
ajfa-11077	310	164	1.00	1.00	NUM
ajfa-11077	310	165	)	)	PUNCT
ajfa-11077	310	166	-0.09	-0.09	NUM
ajfa-11077	310	167	(	(	PUNCT
ajfa-11077	310	168	0.33	0.33	NUM
ajfa-11077	310	169	)	)	PUNCT
ajfa-11077	310	170	-0.36	-0.36	NOUN
ajfa-11077	310	171	*	*	PUNCT
ajfa-11077	310	172	(	(	PUNCT
ajfa-11077	310	173	0.20	0.20	NUM
ajfa-11077	310	174	)	)	PUNCT
ajfa-11077	310	175	-0.32	-0.32	VERB
ajfa-11077	310	176	*	*	PUNCT
ajfa-11077	310	177	*	*	PUNCT
ajfa-11077	310	178	*	*	PUNCT
ajfa-11077	310	179	(	(	PUNCT
ajfa-11077	310	180	0.10	0.10	NUM
ajfa-11077	310	181	)	)	PUNCT
ajfa-11077	310	182	asian	asian	ADJ
ajfa-11077	310	183	journal	journal	NOUN
ajfa-11077	310	184	of	of	ADP
ajfa-11077	310	185	finance	finance	PROPN
ajfa-11077	310	186	&	&	CCONJ
ajfa-11077	310	187	accounting	accounting	PROPN
ajfa-11077	310	188	issn	issn	PROPN
ajfa-11077	310	189	1946	1946	NUM
ajfa-11077	310	190	-	-	PUNCT
ajfa-11077	310	191	052x	052x	PROPN
ajfa-11077	310	192	2017	2017	NUM
ajfa-11077	310	193	,	,	PUNCT
ajfa-11077	310	194	vol	vol	NOUN
ajfa-11077	310	195	.	.	NOUN
ajfa-11077	311	1	9	9	NUM
ajfa-11077	311	2	,	,	PUNCT
ajfa-11077	311	3	no	no	INTJ
ajfa-11077	311	4	.	.	NOUN
ajfa-11077	311	5	1	1	NUM
ajfa-11077	311	6	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-11077	311	7	299	299	NUM
ajfa-11077	311	8	aud	aud	INTJ
ajfa-11077	311	9	-0.51	-0.51	INTJ
ajfa-11077	311	10	(	(	PUNCT
ajfa-11077	311	11	0.37	0.37	NUM
ajfa-11077	311	12	)	)	PUNCT
ajfa-11077	311	13	-0.22	-0.22	NOUN
ajfa-11077	311	14	*	*	PUNCT
ajfa-11077	311	15	(	(	PUNCT
ajfa-11077	311	16	0.11	0.11	NUM
ajfa-11077	311	17	)	)	PUNCT
ajfa-11077	311	18	0.30	0.30	NUM
ajfa-11077	311	19	*	*	PUNCT
ajfa-11077	311	20	*	*	PUNCT
ajfa-11077	311	21	(	(	PUNCT
ajfa-11077	311	22	0.12	0.12	NUM
ajfa-11077	311	23	)	)	PUNCT
ajfa-11077	311	24	0.39	0.39	NUM
ajfa-11077	311	25	*	*	PUNCT
ajfa-11077	311	26	*	*	PUNCT
ajfa-11077	311	27	*	*	PUNCT
ajfa-11077	311	28	(	(	PUNCT
ajfa-11077	311	29	0.07	0.07	NUM
ajfa-11077	311	30	)	)	PUNCT
ajfa-11077	311	31	0.01	0.01	NUM
ajfa-11077	311	32	(	(	PUNCT
ajfa-11077	311	33	0.06	0.06	NUM
ajfa-11077	311	34	)	)	PUNCT
ajfa-11077	311	35	idr	idr	PROPN
ajfa-11077	311	36	0.23	0.23	NUM
ajfa-11077	311	37	(	(	PUNCT
ajfa-11077	311	38	0.33	0.33	NUM
ajfa-11077	311	39	)	)	PUNCT
ajfa-11077	311	40	-0.03	-0.03	NOUN
ajfa-11077	311	41	(	(	PUNCT
ajfa-11077	311	42	0.08	0.08	NUM
ajfa-11077	311	43	)	)	PUNCT
ajfa-11077	311	44	-0.01	-0.01	NUM
ajfa-11077	311	45	(	(	PUNCT
ajfa-11077	311	46	0.05	0.05	NUM
ajfa-11077	311	47	)	)	PUNCT
ajfa-11077	311	48	thb	thb	NOUN
ajfa-11077	311	49	-0.42	-0.42	PRON
ajfa-11077	311	50	(	(	PUNCT
ajfa-11077	311	51	0.66	0.66	NUM
ajfa-11077	311	52	)	)	PUNCT
ajfa-11077	311	53	-0.11	-0.11	NUM
ajfa-11077	311	54	(	(	PUNCT
ajfa-11077	311	55	0.17	0.17	NUM
ajfa-11077	311	56	)	)	PUNCT
ajfa-11077	311	57	-0.00	-0.00	X
ajfa-11077	311	58	(	(	PUNCT
ajfa-11077	311	59	0.10	0.10	NUM
ajfa-11077	311	60	)	)	PUNCT
ajfa-11077	311	61	myr	myr	NOUN
ajfa-11077	311	62	0.51	0.51	NUM
ajfa-11077	311	63	(	(	PUNCT
ajfa-11077	311	64	0.48	0.48	NUM
ajfa-11077	311	65	)	)	PUNCT
ajfa-11077	311	66	0.36	0.36	NUM
ajfa-11077	311	67	*	*	SYM
ajfa-11077	311	68	(	(	PUNCT
ajfa-11077	311	69	0.20	0.20	NUM
ajfa-11077	311	70	)	)	PUNCT
ajfa-11077	311	71	-0.23	-0.23	PROPN
ajfa-11077	311	72	(	(	PUNCT
ajfa-11077	311	73	0.18	0.18	NUM
ajfa-11077	311	74	)	)	PUNCT
ajfa-11077	311	75	-0.24	-0.24	NOUN
ajfa-11077	311	76	*	*	PUNCT
ajfa-11077	311	77	*	*	PUNCT
ajfa-11077	311	78	(	(	PUNCT
ajfa-11077	311	79	0.11	0.11	NUM
ajfa-11077	311	80	)	)	PUNCT
ajfa-11077	311	81	0.05	0.05	NUM
ajfa-11077	311	82	(	(	PUNCT
ajfa-11077	311	83	0.11	0.11	NUM
ajfa-11077	311	84	)	)	PUNCT
ajfa-11077	311	85	php	php	NOUN
ajfa-11077	311	86	0.20	0.20	NUM
ajfa-11077	311	87	(	(	PUNCT
ajfa-11077	311	88	1.13	1.13	NUM
ajfa-11077	311	89	)	)	PUNCT
ajfa-11077	311	90	-0.03	-0.03	NOUN
ajfa-11077	311	91	(	(	PUNCT
ajfa-11077	311	92	0.14	0.14	NUM
ajfa-11077	311	93	)	)	PUNCT
ajfa-11077	311	94	-0.11	-0.11	NOUN
ajfa-11077	311	95	(	(	PUNCT
ajfa-11077	311	96	0.08	0.08	NUM
ajfa-11077	311	97	)	)	PUNCT
ajfa-11077	311	98	lag1	lag1	NOUN
ajfa-11077	311	99	-0.60	-0.60	NUM
ajfa-11077	311	100	*	*	X
ajfa-11077	311	101	(	(	PUNCT
ajfa-11077	311	102	0.31	0.31	NUM
ajfa-11077	311	103	)	)	PUNCT
ajfa-11077	311	104	-0.75	-0.75	NUM
ajfa-11077	311	105	*	*	PUNCT
ajfa-11077	311	106	*	*	PUNCT
ajfa-11077	311	107	*	*	PUNCT
ajfa-11077	311	108	(	(	PUNCT
ajfa-11077	311	109	0.17	0.17	NUM
ajfa-11077	311	110	)	)	PUNCT
ajfa-11077	311	111	-0.76	-0.76	PROPN
ajfa-11077	311	112	*	*	PROPN
ajfa-11077	311	113	*	*	PUNCT
ajfa-11077	311	114	*	*	PUNCT
ajfa-11077	311	115	(	(	PUNCT
ajfa-11077	311	116	0.13	0.13	NUM
ajfa-11077	311	117	)	)	PUNCT
ajfa-11077	311	118	-0.75	-0.75	NUM
ajfa-11077	311	119	*	*	PUNCT
ajfa-11077	311	120	*	*	PUNCT
ajfa-11077	311	121	*	*	PUNCT
ajfa-11077	311	122	(	(	PUNCT
ajfa-11077	311	123	0.09	0.09	NUM
ajfa-11077	311	124	)	)	PUNCT
ajfa-11077	311	125	-1.09	-1.09	NOUN
ajfa-11077	311	126	*	*	PUNCT
ajfa-11077	311	127	*	*	PUNCT
ajfa-11077	311	128	*	*	PUNCT
ajfa-11077	311	129	(	(	PUNCT
ajfa-11077	311	130	0.14	0.14	NUM
ajfa-11077	311	131	)	)	PUNCT
ajfa-11077	311	132	-0.99	-0.99	NOUN
ajfa-11077	311	133	*	*	PUNCT
ajfa-11077	311	134	*	*	PUNCT
ajfa-11077	311	135	*	*	PUNCT
ajfa-11077	311	136	(	(	PUNCT
ajfa-11077	311	137	0.09	0.09	NUM
ajfa-11077	311	138	)	)	PUNCT
ajfa-11077	311	139	lag2	lag2	NOUN
ajfa-11077	311	140	-0.29	-0.29	NUM
ajfa-11077	311	141	(	(	PUNCT
ajfa-11077	311	142	0.43	0.43	NUM
ajfa-11077	311	143	)	)	PUNCT
ajfa-11077	311	144	-0.52	-0.52	NOUN
ajfa-11077	311	145	*	*	PUNCT
ajfa-11077	311	146	*	*	PUNCT
ajfa-11077	311	147	*	*	PUNCT
ajfa-11077	311	148	(	(	PUNCT
ajfa-11077	311	149	0.17	0.17	NUM
ajfa-11077	311	150	)	)	PUNCT
ajfa-11077	311	151	-0.35	-0.35	NOUN
ajfa-11077	311	152	*	*	NOUN
ajfa-11077	311	153	*	*	PUNCT
ajfa-11077	311	154	(	(	PUNCT
ajfa-11077	311	155	0.15	0.15	NUM
ajfa-11077	311	156	)	)	PUNCT
ajfa-11077	311	157	-0.42	-0.42	NOUN
ajfa-11077	311	158	*	*	NOUN
ajfa-11077	311	159	*	*	PUNCT
ajfa-11077	311	160	*	*	PUNCT
ajfa-11077	311	161	(	(	PUNCT
ajfa-11077	311	162	0.09	0.09	NUM
ajfa-11077	311	163	)	)	PUNCT
ajfa-11077	311	164	-0.83	-0.83	NOUN
ajfa-11077	311	165	*	*	PUNCT
ajfa-11077	311	166	*	*	PUNCT
ajfa-11077	311	167	*	*	PUNCT
ajfa-11077	311	168	(	(	PUNCT
ajfa-11077	311	169	0.19	0.19	NUM
ajfa-11077	311	170	)	)	PUNCT
ajfa-11077	311	171	-0.66	-0.66	NOUN
ajfa-11077	311	172	*	*	NOUN
ajfa-11077	311	173	*	*	PUNCT
ajfa-11077	311	174	*	*	PUNCT
ajfa-11077	311	175	(	(	PUNCT
ajfa-11077	311	176	0.12	0.12	NUM
ajfa-11077	311	177	)	)	PUNCT
ajfa-11077	311	178	lag	lag	VERB
ajfa-11077	311	179	3	3	NUM
ajfa-11077	311	180	0.30	0.30	NUM
ajfa-11077	311	181	(	(	PUNCT
ajfa-11077	311	182	0.73	0.73	NUM
ajfa-11077	311	183	)	)	PUNCT
ajfa-11077	311	184	-0.01	-0.01	NUM
ajfa-11077	311	185	(	(	PUNCT
ajfa-11077	311	186	0.13	0.13	NUM
ajfa-11077	311	187	)	)	PUNCT
ajfa-11077	311	188	-0.73	-0.73	NOUN
ajfa-11077	311	189	*	*	PUNCT
ajfa-11077	311	190	*	*	PUNCT
ajfa-11077	311	191	*	*	PUNCT
ajfa-11077	311	192	(	(	PUNCT
ajfa-11077	311	193	0.19	0.19	NUM
ajfa-11077	311	194	)	)	PUNCT
ajfa-11077	311	195	-0.56	-0.56	NOUN
ajfa-11077	311	196	*	*	X
ajfa-11077	311	197	*	*	PUNCT
ajfa-11077	311	198	*	*	PUNCT
ajfa-11077	311	199	(	(	PUNCT
ajfa-11077	311	200	0.09	0.09	NUM
ajfa-11077	311	201	)	)	PUNCT
ajfa-11077	311	202	lag4	lag4	NOUN
ajfa-11077	311	203	0.26	0.26	NUM
ajfa-11077	311	204	(	(	PUNCT
ajfa-11077	311	205	0.48	0.48	NUM
ajfa-11077	311	206	)	)	PUNCT
ajfa-11077	311	207	-0.08	-0.08	NUM
ajfa-11077	311	208	(	(	PUNCT
ajfa-11077	311	209	0.11	0.11	NUM
ajfa-11077	311	210	)	)	PUNCT
ajfa-11077	311	211	-0.12	-0.12	NUM
ajfa-11077	311	212	(	(	PUNCT
ajfa-11077	311	213	0.16	0.16	NUM
ajfa-11077	311	214	)	)	PUNCT
ajfa-11077	311	215	size	size	NOUN
ajfa-11077	311	216	-2.50	-2.50	PROPN
ajfa-11077	311	217	(	(	PUNCT
ajfa-11077	311	218	6.39	6.39	NUM
ajfa-11077	311	219	)	)	PUNCT
ajfa-11077	311	220	-3.37	-3.37	NUM
ajfa-11077	311	221	(	(	PUNCT
ajfa-11077	311	222	3.33	3.33	NUM
ajfa-11077	311	223	)	)	PUNCT
ajfa-11077	311	224	-1.93	-1.93	NOUN
ajfa-11077	311	225	*	*	PUNCT
ajfa-11077	311	226	(	(	PUNCT
ajfa-11077	311	227	1.05	1.05	NUM
ajfa-11077	311	228	)	)	PUNCT
ajfa-11077	311	229	adj	adj	X
ajfa-11077	311	230	.	.	PROPN
ajfa-11077	311	231	r2	r2	PROPN
ajfa-11077	311	232	0.04	0.04	NUM
ajfa-11077	311	233	0.48	0.48	NUM
ajfa-11077	311	234	0.57	0.57	NUM
ajfa-11077	311	235	0.61	0.61	NUM
ajfa-11077	311	236	0.76	0.76	NUM
ajfa-11077	311	237	0.77	0.77	NUM
ajfa-11077	311	238	obs	ob	NOUN
ajfa-11077	311	239	.	.	PUNCT
ajfa-11077	312	1	27	27	NUM
ajfa-11077	312	2	27	27	NUM
ajfa-11077	312	3	58	58	NUM
ajfa-11077	312	4	58	58	NUM
ajfa-11077	312	5	58	58	NUM
ajfa-11077	312	6	58	58	NUM
ajfa-11077	312	7	in	in	ADP
ajfa-11077	312	8	table	table	NOUN
ajfa-11077	312	9	5	5	NUM
ajfa-11077	312	10	,	,	PUNCT
ajfa-11077	312	11	model	model	NOUN
ajfa-11077	312	12	i	i	PRON
ajfa-11077	312	13	regresses	regress	VERB
ajfa-11077	312	14	roed	roe	VERB
ajfa-11077	312	15	1	1	NUM
ajfa-11077	312	16	on	on	ADP
ajfa-11077	312	17	all	all	DET
ajfa-11077	312	18	exchange	exchange	NOUN
ajfa-11077	312	19	fluctuations	fluctuation	NOUN
ajfa-11077	312	20	,	,	PUNCT
ajfa-11077	312	21	lagged	lag	VERB
ajfa-11077	312	22	variables	variable	NOUN
ajfa-11077	312	23	and	and	CCONJ
ajfa-11077	312	24	the	the	DET
ajfa-11077	312	25	control	control	NOUN
ajfa-11077	312	26	variables	variable	NOUN
ajfa-11077	312	27	.	.	PUNCT
ajfa-11077	313	1	model	model	PROPN
ajfa-11077	313	2	ii	ii	PROPN
ajfa-11077	313	3	regresses	regress	VERB
ajfa-11077	313	4	roed	roe	VERB
ajfa-11077	313	5	1	1	NUM
ajfa-11077	313	6	on	on	ADP
ajfa-11077	313	7	all	all	DET
ajfa-11077	313	8	variables	variable	NOUN
ajfa-11077	313	9	but	but	CCONJ
ajfa-11077	313	10	selected	select	VERB
ajfa-11077	313	11	by	by	ADP
ajfa-11077	313	12	eliminating	eliminate	VERB
ajfa-11077	313	13	higher	high	ADJ
ajfa-11077	313	14	p	p	ADJ
ajfa-11077	313	15	-	-	PUNCT
ajfa-11077	313	16	value	value	NOUN
ajfa-11077	313	17	explanatory	explanatory	ADJ
ajfa-11077	313	18	variables	variable	NOUN
ajfa-11077	313	19	.	.	PUNCT
ajfa-11077	314	1	we	we	PRON
ajfa-11077	314	2	may	may	AUX
ajfa-11077	314	3	find	find	VERB
ajfa-11077	314	4	that	that	SCONJ
ajfa-11077	314	5	the	the	DET
ajfa-11077	314	6	results	result	NOUN
ajfa-11077	314	7	in	in	ADP
ajfa-11077	314	8	table	table	NOUN
ajfa-11077	314	9	5	5	NUM
ajfa-11077	314	10	are	be	AUX
ajfa-11077	314	11	almost	almost	ADV
ajfa-11077	314	12	the	the	DET
ajfa-11077	314	13	same	same	ADJ
ajfa-11077	314	14	as	as	ADP
ajfa-11077	314	15	in	in	ADP
ajfa-11077	314	16	table	table	NOUN
ajfa-11077	314	17	4	4	NUM
ajfa-11077	314	18	.	.	PUNCT
ajfa-11077	315	1	there	there	PRON
ajfa-11077	315	2	is	be	VERB
ajfa-11077	315	3	seasonal	seasonal	ADJ
ajfa-11077	315	4	effect	effect	NOUN
ajfa-11077	315	5	for	for	ADP
ajfa-11077	315	6	taiwan	taiwan	PROPN
ajfa-11077	315	7	hotel	hotel	NOUN
ajfa-11077	315	8	industry	industry	NOUN
ajfa-11077	315	9	’s	’s	PART
ajfa-11077	315	10	roe	roe	NOUN
ajfa-11077	315	11	,	,	PUNCT
ajfa-11077	315	12	too	too	ADV
ajfa-11077	315	13	.	.	PUNCT
ajfa-11077	316	1	and	and	CCONJ
ajfa-11077	316	2	,	,	PUNCT
ajfa-11077	316	3	roed1	roed1	NOUN
ajfa-11077	316	4	of	of	ADP
ajfa-11077	316	5	first	first	ADJ
ajfa-11077	316	6	hotel	hotel	PROPN
ajfa-11077	316	7	company	company	PROPN
ajfa-11077	316	8	ltd	ltd	PROPN
ajfa-11077	316	9	.	.	PROPN
ajfa-11077	316	10	(	(	PUNCT
ajfa-11077	316	11	2706	2706	NUM
ajfa-11077	316	12	)	)	PUNCT
ajfa-11077	316	13	and	and	CCONJ
ajfa-11077	316	14	pleasant	pleasant	ADJ
ajfa-11077	316	15	hotels	hotel	NOUN
ajfa-11077	316	16	international	international	PROPN
ajfa-11077	316	17	inc	inc	PROPN
ajfa-11077	316	18	.	.	PROPN
ajfa-11077	316	19	(	(	PUNCT
ajfa-11077	316	20	2718	2718	NUM
ajfa-11077	316	21	)	)	PUNCT
ajfa-11077	316	22	are	be	AUX
ajfa-11077	316	23	mean	mean	ADJ
ajfa-11077	316	24	-	-	PUNCT
ajfa-11077	316	25	reverting	revert	VERB
ajfa-11077	316	26	.	.	PUNCT
ajfa-11077	317	1	moreover	moreover	ADV
ajfa-11077	317	2	,	,	PUNCT
ajfa-11077	317	3	the	the	DET
ajfa-11077	317	4	number	number	NOUN
ajfa-11077	317	5	of	of	ADP
ajfa-11077	317	6	significant	significant	ADJ
ajfa-11077	317	7	variables	variable	NOUN
ajfa-11077	317	8	and	and	CCONJ
ajfa-11077	317	9	the	the	DET
ajfa-11077	317	10	component	component	NOUN
ajfa-11077	317	11	of	of	ADP
ajfa-11077	317	12	significant	significant	ADJ
ajfa-11077	317	13	variables	variable	NOUN
ajfa-11077	317	14	are	be	AUX
ajfa-11077	317	15	different	different	ADJ
ajfa-11077	317	16	to	to	ADP
ajfa-11077	317	17	each	each	DET
ajfa-11077	317	18	company	company	NOUN
ajfa-11077	317	19	.	.	PUNCT
ajfa-11077	318	1	for	for	ADP
ajfa-11077	318	2	example	example	NOUN
ajfa-11077	318	3	,	,	PUNCT
ajfa-11077	318	4	the	the	DET
ajfa-11077	318	5	significant	significant	ADJ
ajfa-11077	318	6	variables	variable	NOUN
ajfa-11077	318	7	of	of	ADP
ajfa-11077	318	8	the	the	DET
ajfa-11077	318	9	roe	roe	NOUN
ajfa-11077	318	10	of	of	ADP
ajfa-11077	318	11	landis	landis	PROPN
ajfa-11077	318	12	taipei	taipei	PROPN
ajfa-11077	318	13	hotel	hotel	PROPN
ajfa-11077	318	14	co.	co.	PROPN
ajfa-11077	318	15	,	,	PUNCT
ajfa-11077	318	16	ltd	ltd	PROPN
ajfa-11077	318	17	.	.	PROPN
ajfa-11077	318	18	(	(	PUNCT
ajfa-11077	318	19	5703	5703	NUM
ajfa-11077	318	20	)	)	PUNCT
ajfa-11077	318	21	are	be	AUX
ajfa-11077	318	22	the	the	DET
ajfa-11077	318	23	changes	change	NOUN
ajfa-11077	318	24	of	of	ADP
ajfa-11077	318	25	euro	euro	NOUN
ajfa-11077	318	26	,	,	PUNCT
ajfa-11077	318	27	japan	japan	PROPN
ajfa-11077	318	28	yen	yen	PROPN
ajfa-11077	318	29	,	,	PUNCT
ajfa-11077	318	30	australia	australia	NOUN
ajfa-11077	318	31	dollar	dollar	NOUN
ajfa-11077	318	32	and	and	CCONJ
ajfa-11077	318	33	malaysian	malaysian	ADJ
ajfa-11077	318	34	ringgit	ringgit	NOUN
ajfa-11077	318	35	,	,	PUNCT
ajfa-11077	318	36	but	but	CCONJ
ajfa-11077	318	37	that	that	PRON
ajfa-11077	318	38	of	of	ADP
ajfa-11077	318	39	the	the	DET
ajfa-11077	318	40	chateau	chateau	PROPN
ajfa-11077	318	41	international	international	PROPN
ajfa-11077	318	42	development	development	PROPN
ajfa-11077	318	43	co.	co.	PROPN
ajfa-11077	318	44	,	,	PUNCT
ajfa-11077	318	45	ltd	ltd	PROPN
ajfa-11077	318	46	.	.	PROPN
ajfa-11077	318	47	(	(	PUNCT
ajfa-11077	318	48	2722	2722	NUM
ajfa-11077	318	49	)	)	PUNCT
ajfa-11077	318	50	are	be	AUX
ajfa-11077	318	51	the	the	DET
ajfa-11077	318	52	changes	change	NOUN
ajfa-11077	318	53	of	of	ADP
ajfa-11077	318	54	euro	euro	NOUN
ajfa-11077	318	55	,	,	PUNCT
ajfa-11077	318	56	pound	pound	NOUN
ajfa-11077	318	57	,	,	PUNCT
ajfa-11077	318	58	chinese	chinese	PROPN
ajfa-11077	318	59	yuan	yuan	PROPN
ajfa-11077	318	60	,	,	PUNCT
ajfa-11077	318	61	japan	japan	PROPN
ajfa-11077	318	62	yen	yen	PROPN
ajfa-11077	318	63	,	,	PUNCT
ajfa-11077	318	64	korean	korean	PROPN
ajfa-11077	318	65	won	win	VERB
ajfa-11077	318	66	,	,	PUNCT
ajfa-11077	318	67	singapore	singapore	PROPN
ajfa-11077	318	68	dollar	dollar	NOUN
ajfa-11077	318	69	,	,	PUNCT
ajfa-11077	318	70	australia	australia	NOUN
ajfa-11077	318	71	dollar	dollar	NOUN
ajfa-11077	318	72	,	,	PUNCT
ajfa-11077	318	73	thailand	thailand	PROPN
ajfa-11077	318	74	baht	baht	NOUN
ajfa-11077	318	75	,	,	PUNCT
ajfa-11077	318	76	malaysian	malaysian	ADJ
ajfa-11077	318	77	ringgit	ringgit	NOUN
ajfa-11077	318	78	,	,	PUNCT
ajfa-11077	318	79	and	and	CCONJ
ajfa-11077	318	80	philippine	philippine	ADJ
ajfa-11077	318	81	peso	peso	NOUN
ajfa-11077	318	82	.	.	PUNCT
ajfa-11077	319	1	therefore	therefore	ADV
ajfa-11077	319	2	,	,	PUNCT
ajfa-11077	319	3	it	it	PRON
ajfa-11077	319	4	supports	support	VERB
ajfa-11077	319	5	the	the	DET
ajfa-11077	319	6	results	result	NOUN
ajfa-11077	319	7	in	in	ADP
ajfa-11077	319	8	table	table	NOUN
ajfa-11077	319	9	4	4	NUM
ajfa-11077	319	10	,	,	PUNCT
ajfa-11077	319	11	which	which	PRON
ajfa-11077	319	12	the	the	DET
ajfa-11077	319	13	portfolio	portfolio	NOUN
ajfa-11077	319	14	of	of	ADP
ajfa-11077	319	15	currencies	currency	NOUN
ajfa-11077	319	16	should	should	AUX
ajfa-11077	319	17	be	be	AUX
ajfa-11077	319	18	different	different	ADJ
ajfa-11077	319	19	for	for	ADP
ajfa-11077	319	20	each	each	DET
ajfa-11077	319	21	company	company	NOUN
ajfa-11077	319	22	.	.	PUNCT
ajfa-11077	320	1	asian	asian	ADJ
ajfa-11077	320	2	journal	journal	PROPN
ajfa-11077	320	3	of	of	ADP
ajfa-11077	320	4	finance	finance	PROPN
ajfa-11077	320	5	&	&	CCONJ
ajfa-11077	320	6	accounting	accounting	PROPN
ajfa-11077	320	7	issn	issn	PROPN
ajfa-11077	320	8	1946	1946	NUM
ajfa-11077	320	9	-	-	PUNCT
ajfa-11077	320	10	052x	052x	PROPN
ajfa-11077	320	11	2017	2017	NUM
ajfa-11077	320	12	,	,	PUNCT
ajfa-11077	320	13	vol	vol	NOUN
ajfa-11077	320	14	.	.	NOUN
ajfa-11077	320	15	9	9	NUM
ajfa-11077	320	16	,	,	PUNCT
ajfa-11077	320	17	no	no	INTJ
ajfa-11077	320	18	.	.	NOUN
ajfa-11077	320	19	1	1	NUM
ajfa-11077	320	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	320	21	300	300	NUM
ajfa-11077	320	22	table	table	NOUN
ajfa-11077	320	23	6	6	NUM
ajfa-11077	320	24	.	.	PUNCT
ajfa-11077	321	1	regression	regression	NOUN
ajfa-11077	321	2	on	on	ADP
ajfa-11077	321	3	financial	financial	ADJ
ajfa-11077	321	4	performances	performance	NOUN
ajfa-11077	321	5	of	of	ADP
ajfa-11077	321	6	the	the	DET
ajfa-11077	321	7	ambassador	ambassador	NOUN
ajfa-11077	321	8	hotel	hotel	NOUN
ajfa-11077	321	9	the	the	DET
ajfa-11077	321	10	regression	regression	NOUN
ajfa-11077	321	11	model	model	NOUN
ajfa-11077	321	12	is	be	AUX
ajfa-11077	321	13	given	give	VERB
ajfa-11077	321	14	as	as	SCONJ
ajfa-11077	321	15	follows	follow	VERB
ajfa-11077	321	16	:	:	PUNCT
ajfa-11077	321	17	.	.	PUNCT
ajfa-11077	322	1	,	,	PUNCT
ajfa-11077	322	2	,	,	PUNCT
ajfa-11077	322	3	,	,	PUNCT
ajfa-11077	322	4	,	,	PUNCT
ajfa-11077	322	5	,	,	PUNCT
ajfa-11077	322	6	,	,	PUNCT
ajfa-11077	322	7	,	,	PUNCT
ajfa-11077	322	8	,	,	PUNCT
ajfa-11077	322	9	tti	tti	PROPN
ajfa-11077	322	10	n	n	CCONJ
ajfa-11077	322	11	j	j	PROPN
ajfa-11077	322	12	tjj	tjj	PROPN
ajfa-11077	322	13	p	p	PROPN
ajfa-11077	322	14	k	k	PROPN
ajfa-11077	322	15	ktktmt	ktktmt	PROPN
ajfa-11077	322	16	asizefxyrmrfy	asizefxyrmrfy	PROPN
ajfa-11077	322	17	27042704	27042704	NUM
ajfa-11077	322	18	1	1	NUM
ajfa-11077	322	19	2704	2704	NUM
ajfa-11077	322	20	1	1	NUM
ajfa-11077	322	21	27042704270427042704	27042704270427042704	NUM
ajfa-11077	322	22	+	+	NOUN
ajfa-11077	322	23	⋅+δ⋅+⋅+⋅+=	⋅+δ⋅+⋅+⋅+=	NOUN
ajfa-11077	322	24			NOUN
ajfa-11077	323	1	=	=	NOUN
ajfa-11077	323	2	=	=	SYM
ajfa-11077	323	3	−	−	PROPN
ajfa-11077	323	4	δγφβα	δγφβα	NOUN
ajfa-11077	323	5	2704y	2704y	NUM
ajfa-11077	323	6	represents	represent	VERB
ajfa-11077	323	7	the	the	DET
ajfa-11077	323	8	performance	performance	NOUN
ajfa-11077	323	9	of	of	ADP
ajfa-11077	323	10	the	the	DET
ajfa-11077	323	11	ambassador	ambassador	NOUN
ajfa-11077	323	12	hotel	hotel	NOUN
ajfa-11077	323	13	,	,	PUNCT
ajfa-11077	323	14	that	that	ADV
ajfa-11077	323	15	is	is	ADV
ajfa-11077	323	16	,	,	PUNCT
ajfa-11077	323	17	2704roa	2704roa	NUM
ajfa-11077	323	18	or	or	CCONJ
ajfa-11077	323	19	2704roe	2704roe	PROPN
ajfa-11077	323	20	.	.	PUNCT
ajfa-11077	324	1	model	model	NOUN
ajfa-11077	324	2	i	i	PRON
ajfa-11077	324	3	regresses	regress	VERB
ajfa-11077	324	4	2704y	2704y	NOUN
ajfa-11077	324	5	on	on	ADP
ajfa-11077	324	6	all	all	DET
ajfa-11077	324	7	exchange	exchange	NOUN
ajfa-11077	324	8	fluctuations	fluctuation	NOUN
ajfa-11077	324	9	,	,	PUNCT
ajfa-11077	324	10	lagged	lag	VERB
ajfa-11077	324	11	variables	variable	NOUN
ajfa-11077	324	12	and	and	CCONJ
ajfa-11077	324	13	the	the	DET
ajfa-11077	324	14	control	control	NOUN
ajfa-11077	324	15	variables	variable	NOUN
ajfa-11077	324	16	.	.	PUNCT
ajfa-11077	325	1	model	model	PROPN
ajfa-11077	325	2	ii	ii	PROPN
ajfa-11077	325	3	regresses	regress	VERB
ajfa-11077	325	4	2704y	2704y	NOUN
ajfa-11077	325	5	on	on	ADP
ajfa-11077	325	6	all	all	DET
ajfa-11077	325	7	variablesbut	variablesbut	ADV
ajfa-11077	325	8	selected	select	VERB
ajfa-11077	325	9	by	by	ADP
ajfa-11077	325	10	eliminating	eliminate	VERB
ajfa-11077	325	11	higher	high	ADJ
ajfa-11077	325	12	p	p	ADJ
ajfa-11077	325	13	-	-	PUNCT
ajfa-11077	325	14	value	value	NOUN
ajfa-11077	325	15	explanatory	explanatory	ADJ
ajfa-11077	325	16	variables	variable	NOUN
ajfa-11077	325	17	.	.	PUNCT
ajfa-11077	326	1	the	the	DET
ajfa-11077	326	2	values	value	NOUN
ajfa-11077	326	3	in	in	ADP
ajfa-11077	326	4	the	the	DET
ajfa-11077	326	5	parentheses	parenthesis	NOUN
ajfa-11077	326	6	are	be	AUX
ajfa-11077	326	7	standard	standard	ADJ
ajfa-11077	326	8	error	error	NOUN
ajfa-11077	326	9	of	of	ADP
ajfa-11077	326	10	the	the	DET
ajfa-11077	326	11	estimates	estimate	NOUN
ajfa-11077	326	12	.	.	PUNCT
ajfa-11077	327	1	and	and	CCONJ
ajfa-11077	327	2	*	*	PUNCT
ajfa-11077	327	3	,	,	PUNCT
ajfa-11077	327	4	*	*	PUNCT
ajfa-11077	327	5	*	*	PUNCT
ajfa-11077	327	6	and	and	CCONJ
ajfa-11077	327	7	*	*	PUNCT
ajfa-11077	327	8	*	*	PUNCT
ajfa-11077	327	9	*	*	PUNCT
ajfa-11077	327	10	stand	stand	VERB
ajfa-11077	327	11	for	for	ADP
ajfa-11077	327	12	10	10	NUM
ajfa-11077	327	13	%	%	NOUN
ajfa-11077	327	14	,	,	PUNCT
ajfa-11077	327	15	5	5	NUM
ajfa-11077	327	16	%	%	NOUN
ajfa-11077	327	17	and	and	CCONJ
ajfa-11077	327	18	1	1	NUM
ajfa-11077	327	19	%	%	NOUN
ajfa-11077	327	20	level	level	NOUN
ajfa-11077	327	21	of	of	ADP
ajfa-11077	327	22	significance	significance	NOUN
ajfa-11077	327	23	,	,	PUNCT
ajfa-11077	327	24	respectively	respectively	ADV
ajfa-11077	327	25	.	.	PUNCT
ajfa-11077	328	1	performance	performance	NOUN
ajfa-11077	328	2	2704roa	2704roa	PROPN
ajfa-11077	328	3	2704roe	2704roe	PROPN
ajfa-11077	328	4	variables	variable	NOUN
ajfa-11077	328	5	model	model	NOUN
ajfa-11077	328	6	i	i	PRON
ajfa-11077	328	7	model	model	PROPN
ajfa-11077	328	8	ii	ii	PROPN
ajfa-11077	328	9	model	model	NOUN
ajfa-11077	329	1	i	i	PRON
ajfa-11077	329	2	model	model	VERB
ajfa-11077	329	3	ii	ii	PROPN
ajfa-11077	329	4	const	const	PROPN
ajfa-11077	329	5	.	.	PUNCT
ajfa-11077	330	1	-25.80	-25.80	PUNCT
ajfa-11077	330	2	(	(	PUNCT
ajfa-11077	330	3	34.26	34.26	NUM
ajfa-11077	330	4	)	)	PUNCT
ajfa-11077	330	5	0.28	0.28	NUM
ajfa-11077	330	6	*	*	NOUN
ajfa-11077	330	7	*	*	PUNCT
ajfa-11077	330	8	(	(	PUNCT
ajfa-11077	330	9	0.11	0.11	NUM
ajfa-11077	330	10	)	)	PUNCT
ajfa-11077	330	11	-34.80	-34.80	PROPN
ajfa-11077	330	12	(	(	PUNCT
ajfa-11077	330	13	58.29	58.29	NUM
ajfa-11077	330	14	)	)	PUNCT
ajfa-11077	330	15	0.25	0.25	NUM
ajfa-11077	330	16	*	*	SYM
ajfa-11077	330	17	(	(	PUNCT
ajfa-11077	330	18	0.14	0.14	NUM
ajfa-11077	330	19	)	)	PUNCT
ajfa-11077	330	20	rmrf	rmrf	NOUN
ajfa-11077	330	21	0.02	0.02	NUM
ajfa-11077	330	22	(	(	PUNCT
ajfa-11077	330	23	0.01	0.01	NUM
ajfa-11077	330	24	)	)	PUNCT
ajfa-11077	330	25	0.15	0.15	NUM
ajfa-11077	330	26	*	*	PUNCT
ajfa-11077	330	27	*	*	PUNCT
ajfa-11077	330	28	(	(	PUNCT
ajfa-11077	330	29	0.01	0.01	NUM
ajfa-11077	330	30	)	)	PUNCT
ajfa-11077	330	31	0.03	0.03	NUM
ajfa-11077	330	32	(	(	PUNCT
ajfa-11077	330	33	0.02	0.02	NUM
ajfa-11077	330	34	)	)	PUNCT
ajfa-11077	330	35	0.03	0.03	NUM
ajfa-11077	330	36	*	*	PUNCT
ajfa-11077	330	37	*	*	PUNCT
ajfa-11077	330	38	*	*	PUNCT
ajfa-11077	330	39	(	(	PUNCT
ajfa-11077	330	40	0.01	0.01	NUM
ajfa-11077	330	41	)	)	PUNCT
ajfa-11077	330	42	usd	usd	NOUN
ajfa-11077	330	43	-0.21	-0.21	NOUN
ajfa-11077	330	44	*	*	NOUN
ajfa-11077	330	45	*	*	PUNCT
ajfa-11077	330	46	(	(	PUNCT
ajfa-11077	330	47	0.09	0.09	NUM
ajfa-11077	330	48	)	)	PUNCT
ajfa-11077	330	49	-0.32	-0.32	VERB
ajfa-11077	330	50	*	*	PROPN
ajfa-11077	330	51	*	*	PUNCT
ajfa-11077	330	52	(	(	PUNCT
ajfa-11077	330	53	0.15	0.15	NUM
ajfa-11077	330	54	)	)	PUNCT
ajfa-11077	330	55	jpy	jpy	NOUN
ajfa-11077	330	56	0.01	0.01	NUM
ajfa-11077	330	57	(	(	PUNCT
ajfa-11077	330	58	0.02	0.02	NUM
ajfa-11077	330	59	)	)	PUNCT
ajfa-11077	330	60	0.02	0.02	NUM
ajfa-11077	330	61	(	(	PUNCT
ajfa-11077	330	62	0.03	0.03	NUM
ajfa-11077	330	63	)	)	PUNCT
ajfa-11077	330	64	cny	cny	NOUN
ajfa-11077	330	65	0.22	0.22	NOUN
ajfa-11077	330	66	*	*	NOUN
ajfa-11077	330	67	*	*	PUNCT
ajfa-11077	330	68	(	(	PUNCT
ajfa-11077	330	69	0.09	0.09	NUM
ajfa-11077	330	70	)	)	PUNCT
ajfa-11077	330	71	0.34	0.34	NUM
ajfa-11077	330	72	*	*	PUNCT
ajfa-11077	330	73	*	*	PUNCT
ajfa-11077	330	74	(	(	PUNCT
ajfa-11077	330	75	0.16	0.16	NUM
ajfa-11077	330	76	)	)	PUNCT
ajfa-11077	330	77	eur	eur	NOUN
ajfa-11077	330	78	-0.05	-0.05	X
ajfa-11077	330	79	(	(	PUNCT
ajfa-11077	330	80	0.03	0.03	NUM
ajfa-11077	330	81	)	)	PUNCT
ajfa-11077	330	82	-0.05	-0.05	NOUN
ajfa-11077	331	1	*	*	PUNCT
ajfa-11077	331	2	*	*	PUNCT
ajfa-11077	331	3	(	(	PUNCT
ajfa-11077	331	4	0.02	0.02	NUM
ajfa-11077	331	5	)	)	PUNCT
ajfa-11077	331	6	-0.08	-0.08	NUM
ajfa-11077	331	7	(	(	PUNCT
ajfa-11077	331	8	0.06	0.06	NUM
ajfa-11077	331	9	)	)	PUNCT
ajfa-11077	331	10	-0.08	-0.08	NOUN
ajfa-11077	331	11	*	*	NOUN
ajfa-11077	331	12	*	*	PUNCT
ajfa-11077	331	13	(	(	PUNCT
ajfa-11077	331	14	0.03	0.03	NUM
ajfa-11077	331	15	)	)	PUNCT
ajfa-11077	331	16	krw	krw	NOUN
ajfa-11077	331	17	0.01	0.01	NUM
ajfa-11077	331	18	(	(	PUNCT
ajfa-11077	331	19	0.03	0.03	NUM
ajfa-11077	331	20	)	)	PUNCT
ajfa-11077	331	21	0.03	0.03	NUM
ajfa-11077	331	22	(	(	PUNCT
ajfa-11077	331	23	0.05	0.05	NUM
ajfa-11077	331	24	)	)	PUNCT
ajfa-11077	331	25	gbp	gbp	NOUN
ajfa-11077	331	26	0.04	0.04	NUM
ajfa-11077	331	27	(	(	PUNCT
ajfa-11077	331	28	0.03	0.03	NUM
ajfa-11077	331	29	)	)	PUNCT
ajfa-11077	331	30	0.06	0.06	NUM
ajfa-11077	331	31	(	(	PUNCT
ajfa-11077	331	32	0.06	0.06	NUM
ajfa-11077	331	33	)	)	PUNCT
ajfa-11077	331	34	sgd	sgd	X
ajfa-11077	331	35	0.10	0.10	NUM
ajfa-11077	331	36	(	(	PUNCT
ajfa-11077	331	37	0.10	0.10	NUM
ajfa-11077	331	38	)	)	PUNCT
ajfa-11077	331	39	0.14	0.14	NUM
ajfa-11077	331	40	*	*	PUNCT
ajfa-11077	331	41	*	*	PUNCT
ajfa-11077	331	42	(	(	PUNCT
ajfa-11077	331	43	0.06	0.06	NUM
ajfa-11077	331	44	)	)	PUNCT
ajfa-11077	331	45	0.17	0.17	NUM
ajfa-11077	331	46	(	(	PUNCT
ajfa-11077	331	47	0.17	0.17	NUM
ajfa-11077	331	48	)	)	PUNCT
ajfa-11077	331	49	0.26	0.26	NUM
ajfa-11077	331	50	*	*	PUNCT
ajfa-11077	331	51	*	*	PUNCT
ajfa-11077	331	52	(	(	PUNCT
ajfa-11077	331	53	0.10	0.10	NUM
ajfa-11077	331	54	)	)	PUNCT
ajfa-11077	331	55	aud	aud	NOUN
ajfa-11077	331	56	-0.02	-0.02	NUM
ajfa-11077	331	57	(	(	PUNCT
ajfa-11077	331	58	0.03	0.03	NUM
ajfa-11077	331	59	)	)	PUNCT
ajfa-11077	331	60	-0.05	-0.05	NOUN
ajfa-11077	331	61	(	(	PUNCT
ajfa-11077	331	62	0.05	0.05	NUM
ajfa-11077	331	63	)	)	PUNCT
ajfa-11077	331	64	idr	idr	NOUN
ajfa-11077	331	65	0.01	0.01	NUM
ajfa-11077	331	66	(	(	PUNCT
ajfa-11077	331	67	0.02	0.02	NUM
ajfa-11077	331	68	)	)	PUNCT
ajfa-11077	331	69	0.02	0.02	NUM
ajfa-11077	331	70	(	(	PUNCT
ajfa-11077	331	71	0.04	0.04	NUM
ajfa-11077	331	72	)	)	PUNCT
ajfa-11077	331	73	thb	thb	NOUN
ajfa-11077	331	74	0.02	0.02	NUM
ajfa-11077	331	75	(	(	PUNCT
ajfa-11077	331	76	0.04	0.04	NUM
ajfa-11077	331	77	)	)	PUNCT
ajfa-11077	331	78	0.04	0.04	NUM
ajfa-11077	331	79	(	(	PUNCT
ajfa-11077	331	80	0.07	0.07	NUM
ajfa-11077	331	81	)	)	PUNCT
ajfa-11077	331	82	myr	myr	PROPN
ajfa-11077	331	83	-0.11	-0.11	PROPN
ajfa-11077	331	84	*	*	PROPN
ajfa-11077	331	85	*	*	PUNCT
ajfa-11077	331	86	(	(	PUNCT
ajfa-11077	331	87	0.05	0.05	NUM
ajfa-11077	331	88	)	)	PUNCT
ajfa-11077	331	89	-0.10	-0.10	NOUN
ajfa-11077	331	90	*	*	PUNCT
ajfa-11077	331	91	*	*	PUNCT
ajfa-11077	331	92	*	*	PUNCT
ajfa-11077	331	93	(	(	PUNCT
ajfa-11077	331	94	0.04	0.04	NUM
ajfa-11077	331	95	)	)	PUNCT
ajfa-11077	331	96	-0.18	-0.18	NOUN
ajfa-11077	331	97	*	*	NOUN
ajfa-11077	331	98	*	*	PUNCT
ajfa-11077	331	99	(	(	PUNCT
ajfa-11077	331	100	0.08	0.08	NUM
ajfa-11077	331	101	)	)	PUNCT
ajfa-11077	331	102	-0.17	-0.17	NOUN
ajfa-11077	331	103	*	*	PUNCT
ajfa-11077	331	104	*	*	PUNCT
ajfa-11077	331	105	*	*	PUNCT
ajfa-11077	331	106	(	(	PUNCT
ajfa-11077	331	107	0.06	0.06	NUM
ajfa-11077	331	108	)	)	PUNCT
ajfa-11077	331	109	asian	asian	ADJ
ajfa-11077	331	110	journal	journal	NOUN
ajfa-11077	331	111	of	of	ADP
ajfa-11077	331	112	finance	finance	PROPN
ajfa-11077	331	113	&	&	CCONJ
ajfa-11077	331	114	accounting	accounting	PROPN
ajfa-11077	331	115	issn	issn	PROPN
ajfa-11077	331	116	1946	1946	NUM
ajfa-11077	331	117	-	-	PUNCT
ajfa-11077	331	118	052x	052x	PROPN
ajfa-11077	331	119	2017	2017	NUM
ajfa-11077	331	120	,	,	PUNCT
ajfa-11077	331	121	vol	vol	NOUN
ajfa-11077	331	122	.	.	NOUN
ajfa-11077	332	1	9	9	NUM
ajfa-11077	332	2	,	,	PUNCT
ajfa-11077	332	3	no	no	INTJ
ajfa-11077	332	4	.	.	NOUN
ajfa-11077	332	5	1	1	NUM
ajfa-11077	332	6	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	332	7	301	301	NUM
ajfa-11077	332	8	php	php	NOUN
ajfa-11077	332	9	0.02	0.02	NUM
ajfa-11077	332	10	(	(	PUNCT
ajfa-11077	332	11	0.04	0.04	NUM
ajfa-11077	332	12	)	)	PUNCT
ajfa-11077	332	13	0.01	0.01	NUM
ajfa-11077	332	14	(	(	PUNCT
ajfa-11077	332	15	0.07	0.07	NUM
ajfa-11077	332	16	)	)	PUNCT
ajfa-11077	332	17	lag1	lag1	NOUN
ajfa-11077	332	18	0.20	0.20	NUM
ajfa-11077	332	19	(	(	PUNCT
ajfa-11077	332	20	0.14	0.14	NUM
ajfa-11077	332	21	)	)	PUNCT
ajfa-11077	332	22	0.26	0.26	NUM
ajfa-11077	332	23	*	*	PUNCT
ajfa-11077	332	24	*	*	PUNCT
ajfa-11077	332	25	(	(	PUNCT
ajfa-11077	332	26	0.12	0.12	NUM
ajfa-11077	332	27	)	)	PUNCT
ajfa-11077	332	28	0.30	0.30	NUM
ajfa-11077	332	29	*	*	PUNCT
ajfa-11077	332	30	*	*	PUNCT
ajfa-11077	332	31	(	(	PUNCT
ajfa-11077	332	32	0.14	0.14	NUM
ajfa-11077	332	33	)	)	PUNCT
ajfa-11077	332	34	0.32	0.32	NUM
ajfa-11077	332	35	*	*	PUNCT
ajfa-11077	332	36	*	*	PUNCT
ajfa-11077	332	37	*	*	PUNCT
ajfa-11077	332	38	(	(	PUNCT
ajfa-11077	332	39	0.11	0.11	NUM
ajfa-11077	332	40	)	)	PUNCT
ajfa-11077	332	41	lag2	lag2	PROPN
ajfa-11077	332	42	-0.06	-0.06	PROPN
ajfa-11077	332	43	(	(	PUNCT
ajfa-11077	332	44	0.16	0.16	NUM
ajfa-11077	332	45	)	)	PUNCT
ajfa-11077	332	46	-0.06	-0.06	PROPN
ajfa-11077	332	47	(	(	PUNCT
ajfa-11077	332	48	0.15	0.15	NUM
ajfa-11077	332	49	)	)	PUNCT
ajfa-11077	332	50	lag	lag	VERB
ajfa-11077	332	51	3	3	NUM
ajfa-11077	332	52	-0.12	-0.12	NUM
ajfa-11077	332	53	(	(	PUNCT
ajfa-11077	332	54	0.14	0.14	NUM
ajfa-11077	332	55	)	)	PUNCT
ajfa-11077	332	56	-0.10	-0.10	NUM
ajfa-11077	332	57	(	(	PUNCT
ajfa-11077	332	58	0.14	0.14	NUM
ajfa-11077	332	59	)	)	PUNCT
ajfa-11077	332	60	lag4	lag4	NOUN
ajfa-11077	333	1	0.25	0.25	NUM
ajfa-11077	333	2	*	*	PUNCT
ajfa-11077	333	3	(	(	PUNCT
ajfa-11077	333	4	0.14	0.14	NUM
ajfa-11077	333	5	)	)	PUNCT
ajfa-11077	333	6	0.28	0.28	NUM
ajfa-11077	333	7	*	*	NOUN
ajfa-11077	333	8	*	*	PUNCT
ajfa-11077	333	9	(	(	PUNCT
ajfa-11077	333	10	0.11	0.11	NUM
ajfa-11077	333	11	)	)	PUNCT
ajfa-11077	333	12	0.24	0.24	NUM
ajfa-11077	333	13	*	*	PUNCT
ajfa-11077	333	14	(	(	PUNCT
ajfa-11077	333	15	0.14	0.14	NUM
ajfa-11077	333	16	)	)	PUNCT
ajfa-11077	333	17	0.24	0.24	NUM
ajfa-11077	333	18	*	*	PUNCT
ajfa-11077	333	19	*	*	PUNCT
ajfa-11077	333	20	(	(	PUNCT
ajfa-11077	333	21	0.11	0.11	NUM
ajfa-11077	333	22	)	)	PUNCT
ajfa-11077	333	23	size	size	NOUN
ajfa-11077	333	24	1.13	1.13	NUM
ajfa-11077	333	25	(	(	PUNCT
ajfa-11077	333	26	1.48	1.48	NUM
ajfa-11077	333	27	)	)	PUNCT
ajfa-11077	333	28	1.52	1.52	NUM
ajfa-11077	333	29	(	(	PUNCT
ajfa-11077	333	30	2.52	2.52	NUM
ajfa-11077	333	31	)	)	PUNCT
ajfa-11077	333	32	adj	adj	PROPN
ajfa-11077	333	33	.	.	PUNCT
ajfa-11077	333	34	r2	r2	PROPN
ajfa-11077	333	35	0.27	0.27	NUM
ajfa-11077	333	36	0.40	0.40	NUM
ajfa-11077	333	37	0.30	0.30	NUM
ajfa-11077	333	38	0.36	0.36	NUM
ajfa-11077	333	39	obs	ob	NOUN
ajfa-11077	333	40	.	.	PUNCT
ajfa-11077	334	1	59	59	NUM
ajfa-11077	334	2	59	59	NUM
ajfa-11077	334	3	59	59	NUM
ajfa-11077	334	4	59	59	NUM
ajfa-11077	334	5	next	next	ADV
ajfa-11077	334	6	,	,	PUNCT
ajfa-11077	334	7	because	because	SCONJ
ajfa-11077	334	8	taiwan	taiwan	PROPN
ajfa-11077	334	9	’s	’s	PART
ajfa-11077	334	10	foreign	foreign	ADJ
ajfa-11077	334	11	trade	trade	NOUN
ajfa-11077	334	12	is	be	AUX
ajfa-11077	334	13	mainly	mainly	ADV
ajfa-11077	334	14	denominated	denominate	VERB
ajfa-11077	334	15	in	in	ADP
ajfa-11077	334	16	us	us	PROPN
ajfa-11077	334	17	dollars	dollar	NOUN
ajfa-11077	334	18	,	,	PUNCT
ajfa-11077	334	19	taiwan	taiwan	PROPN
ajfa-11077	334	20	foreign	foreign	ADJ
ajfa-11077	334	21	exchange	exchange	NOUN
ajfa-11077	334	22	market	market	NOUN
ajfa-11077	334	23	for	for	ADP
ajfa-11077	334	24	a	a	DET
ajfa-11077	334	25	long	long	ADJ
ajfa-11077	334	26	time	time	NOUN
ajfa-11077	334	27	pegged	peg	VERB
ajfa-11077	334	28	to	to	ADP
ajfa-11077	334	29	the	the	DET
ajfa-11077	334	30	dollar	dollar	NOUN
ajfa-11077	334	31	exchange	exchange	NOUN
ajfa-11077	334	32	rate	rate	NOUN
ajfa-11077	334	33	.	.	PUNCT
ajfa-11077	335	1	therefore	therefore	ADV
ajfa-11077	335	2	,	,	PUNCT
ajfa-11077	335	3	enterprises	enterprise	NOUN
ajfa-11077	335	4	may	may	AUX
ajfa-11077	335	5	have	have	VERB
ajfa-11077	335	6	a	a	DET
ajfa-11077	335	7	greater	great	ADJ
ajfa-11077	335	8	proportion	proportion	NOUN
ajfa-11077	335	9	of	of	ADP
ajfa-11077	335	10	dollar	dollar	NOUN
ajfa-11077	335	11	holdings	holding	NOUN
ajfa-11077	335	12	.	.	PUNCT
ajfa-11077	336	1	furthermore	furthermore	ADV
ajfa-11077	336	2	,	,	PUNCT
ajfa-11077	336	3	due	due	ADP
ajfa-11077	336	4	to	to	ADP
ajfa-11077	336	5	the	the	DET
ajfa-11077	336	6	opening	opening	NOUN
ajfa-11077	336	7	of	of	ADP
ajfa-11077	336	8	chinese	chinese	ADJ
ajfa-11077	336	9	tourists	tourist	NOUN
ajfa-11077	336	10	to	to	ADP
ajfa-11077	336	11	taiwan	taiwan	PROPN
ajfa-11077	336	12	,	,	PUNCT
ajfa-11077	336	13	it	it	PRON
ajfa-11077	336	14	results	result	VERB
ajfa-11077	336	15	in	in	ADP
ajfa-11077	336	16	the	the	DET
ajfa-11077	336	17	hotel	hotel	NOUN
ajfa-11077	336	18	industry	industry	NOUN
ajfa-11077	336	19	to	to	PART
ajfa-11077	336	20	increase	increase	VERB
ajfa-11077	336	21	its	its	PRON
ajfa-11077	336	22	chinese	chinese	ADJ
ajfa-11077	336	23	yuan	yuan	PROPN
ajfa-11077	336	24	transaction	transaction	NOUN
ajfa-11077	336	25	needs	need	VERB
ajfa-11077	336	26	,	,	PUNCT
ajfa-11077	336	27	and	and	CCONJ
ajfa-11077	336	28	thus	thus	ADV
ajfa-11077	336	29	roa	roa	PROPN
ajfa-11077	336	30	/	/	SYM
ajfa-11077	336	31	roe	roe	PROPN
ajfa-11077	336	32	reflect	reflect	VERB
ajfa-11077	336	33	the	the	DET
ajfa-11077	336	34	effect	effect	NOUN
ajfa-11077	336	35	from	from	ADP
ajfa-11077	336	36	the	the	DET
ajfa-11077	336	37	change	change	NOUN
ajfa-11077	336	38	of	of	ADP
ajfa-11077	336	39	chinese	chinese	PROPN
ajfa-11077	336	40	yuan	yuan	PROPN
ajfa-11077	336	41	.	.	PUNCT
ajfa-11077	337	1	in	in	ADP
ajfa-11077	337	2	additional	additional	ADJ
ajfa-11077	337	3	,	,	PUNCT
ajfa-11077	337	4	taiwan	taiwan	PROPN
ajfa-11077	337	5	is	be	AUX
ajfa-11077	337	6	also	also	ADV
ajfa-11077	337	7	the	the	DET
ajfa-11077	337	8	first	first	ADJ
ajfa-11077	337	9	choice	choice	NOUN
ajfa-11077	337	10	for	for	ADP
ajfa-11077	337	11	japanese	japanese	ADJ
ajfa-11077	337	12	and	and	CCONJ
ajfa-11077	337	13	korean	korean	ADJ
ajfa-11077	337	14	tourists	tourist	NOUN
ajfa-11077	337	15	traveling	travel	VERB
ajfa-11077	337	16	abroad	abroad	ADV
ajfa-11077	337	17	,	,	PUNCT
ajfa-11077	337	18	so	so	CCONJ
ajfa-11077	337	19	accommodation	accommodation	NOUN
ajfa-11077	337	20	of	of	ADP
ajfa-11077	337	21	the	the	DET
ajfa-11077	337	22	korean	korean	ADJ
ajfa-11077	337	23	won	win	VERB
ajfa-11077	337	24	and	and	CCONJ
ajfa-11077	337	25	the	the	DET
ajfa-11077	337	26	japanese	japanese	ADJ
ajfa-11077	337	27	yen	yen	NOUN
ajfa-11077	337	28	in	in	ADP
ajfa-11077	337	29	trading	trading	NOUN
ajfa-11077	337	30	volume	volume	NOUN
ajfa-11077	337	31	should	should	AUX
ajfa-11077	337	32	not	not	PART
ajfa-11077	337	33	be	be	AUX
ajfa-11077	337	34	underestimated	underestimate	VERB
ajfa-11077	337	35	.	.	PUNCT
ajfa-11077	338	1	as	as	SCONJ
ajfa-11077	338	2	shown	show	VERB
ajfa-11077	338	3	in	in	ADP
ajfa-11077	338	4	table	table	NOUN
ajfa-11077	338	5	7	7	NUM
ajfa-11077	338	6	,	,	PUNCT
ajfa-11077	338	7	major	major	ADJ
ajfa-11077	338	8	hotels	hotel	NOUN
ajfa-11077	338	9	aggregated	aggregate	VERB
ajfa-11077	338	10	by	by	ADP
ajfa-11077	338	11	taiwan	taiwan	PROPN
ajfa-11077	338	12	’s	’s	PART
ajfa-11077	338	13	tourism	tourism	NOUN
ajfa-11077	338	14	bureau	bureau	NOUN
ajfa-11077	338	15	in	in	ADP
ajfa-11077	338	16	2012	2012	NUM
ajfa-11077	338	17	showed	show	VERB
ajfa-11077	338	18	that	that	SCONJ
ajfa-11077	338	19	the	the	DET
ajfa-11077	338	20	japanese	japanese	ADJ
ajfa-11077	338	21	and	and	CCONJ
ajfa-11077	338	22	korean	korean	ADJ
ajfa-11077	338	23	inbounds	inbound	NOUN
ajfa-11077	338	24	were	be	AUX
ajfa-11077	338	25	over	over	ADP
ajfa-11077	338	26	1/5	1/5	NUM
ajfa-11077	338	27	of	of	ADP
ajfa-11077	338	28	guests	guest	NOUN
ajfa-11077	338	29	in	in	ADP
ajfa-11077	338	30	the	the	DET
ajfa-11077	338	31	half	half	NOUN
ajfa-11077	338	32	of	of	ADP
ajfa-11077	338	33	the	the	DET
ajfa-11077	338	34	hotels	hotel	NOUN
ajfa-11077	338	35	.	.	PUNCT
ajfa-11077	339	1	for	for	ADP
ajfa-11077	339	2	example	example	NOUN
ajfa-11077	339	3	,	,	PUNCT
ajfa-11077	339	4	pleasant	pleasant	ADJ
ajfa-11077	339	5	hotel	hotel	NOUN
ajfa-11077	339	6	located	locate	VERB
ajfa-11077	339	7	closed	close	VERB
ajfa-11077	339	8	to	to	ADP
ajfa-11077	339	9	the	the	DET
ajfa-11077	339	10	taoyuan	taoyuan	PROPN
ajfa-11077	339	11	international	international	PROPN
ajfa-11077	339	12	airport	airport	PROPN
ajfa-11077	339	13	,	,	PUNCT
ajfa-11077	339	14	and	and	CCONJ
ajfa-11077	339	15	most	most	ADJ
ajfa-11077	339	16	chinese	chinese	ADJ
ajfa-11077	339	17	tourists	tourist	NOUN
ajfa-11077	339	18	stay	stay	VERB
ajfa-11077	339	19	at	at	ADP
ajfa-11077	339	20	the	the	DET
ajfa-11077	339	21	hotel	hotel	NOUN
ajfa-11077	339	22	in	in	ADP
ajfa-11077	339	23	order	order	NOUN
ajfa-11077	339	24	to	to	ADP
ajfa-11077	339	25	conveniently	conveniently	ADV
ajfa-11077	339	26	entry	entry	NOUN
ajfa-11077	339	27	and	and	CCONJ
ajfa-11077	339	28	exit	exit	NOUN
ajfa-11077	339	29	.	.	PUNCT
ajfa-11077	340	1	both	both	DET
ajfa-11077	340	2	jang	jang	PROPN
ajfa-11077	340	3	and	and	CCONJ
ajfa-11077	340	4	chen	chen	PROPN
ajfa-11077	340	5	(	(	PUNCT
ajfa-11077	340	6	2008	2008	NUM
ajfa-11077	340	7	)	)	PUNCT
ajfa-11077	340	8	and	and	CCONJ
ajfa-11077	340	9	chen	chen	PROPN
ajfa-11077	340	10	,	,	PUNCT
ajfa-11077	340	11	jang	jang	PROPN
ajfa-11077	340	12	and	and	CCONJ
ajfa-11077	340	13	peng	peng	PROPN
ajfa-11077	340	14	(	(	PUNCT
ajfa-11077	340	15	2011	2011	NUM
ajfa-11077	340	16	)	)	PUNCT
ajfa-11077	340	17	employed	employ	VERB
ajfa-11077	340	18	the	the	DET
ajfa-11077	340	19	modern	modern	ADJ
ajfa-11077	340	20	portfolio	portfolio	NOUN
ajfa-11077	340	21	theory	theory	NOUN
ajfa-11077	340	22	to	to	PART
ajfa-11077	340	23	investigate	investigate	VERB
ajfa-11077	340	24	the	the	DET
ajfa-11077	340	25	mixes	mix	NOUN
ajfa-11077	340	26	of	of	ADP
ajfa-11077	340	27	taiwan	taiwan	PROPN
ajfa-11077	340	28	inbounds	inbound	NOUN
ajfa-11077	340	29	.	.	PUNCT
ajfa-11077	341	1	they	they	PRON
ajfa-11077	341	2	suggested	suggest	VERB
ajfa-11077	341	3	that	that	SCONJ
ajfa-11077	341	4	the	the	DET
ajfa-11077	341	5	government	government	NOUN
ajfa-11077	341	6	should	should	AUX
ajfa-11077	341	7	take	take	VERB
ajfa-11077	341	8	the	the	DET
ajfa-11077	341	9	high	high	ADJ
ajfa-11077	341	10	-	-	PUNCT
ajfa-11077	341	11	reward	reward	NOUN
ajfa-11077	341	12	/	/	SYM
ajfa-11077	341	13	high	high	ADJ
ajfa-11077	341	14	-	-	PUNCT
ajfa-11077	341	15	volatility	volatility	NOUN
ajfa-11077	341	16	option	option	NOUN
ajfa-11077	341	17	and	and	CCONJ
ajfa-11077	341	18	shift	shift	VERB
ajfa-11077	341	19	more	more	ADV
ajfa-11077	341	20	available	available	ADJ
ajfa-11077	341	21	resources	resource	NOUN
ajfa-11077	341	22	to	to	PART
ajfa-11077	341	23	attract	attract	VERB
ajfa-11077	341	24	the	the	DET
ajfa-11077	341	25	japanese	japanese	ADJ
ajfa-11077	341	26	tourists	tourist	NOUN
ajfa-11077	341	27	.	.	PUNCT
ajfa-11077	342	1	asian	asian	ADJ
ajfa-11077	342	2	journal	journal	PROPN
ajfa-11077	342	3	of	of	ADP
ajfa-11077	342	4	finance	finance	PROPN
ajfa-11077	342	5	&	&	CCONJ
ajfa-11077	342	6	accounting	accounting	PROPN
ajfa-11077	342	7	issn	issn	PROPN
ajfa-11077	342	8	1946	1946	NUM
ajfa-11077	342	9	-	-	PUNCT
ajfa-11077	342	10	052x	052x	PROPN
ajfa-11077	342	11	2017	2017	NUM
ajfa-11077	342	12	,	,	PUNCT
ajfa-11077	342	13	vol	vol	NOUN
ajfa-11077	342	14	.	.	NOUN
ajfa-11077	342	15	9	9	NUM
ajfa-11077	342	16	,	,	PUNCT
ajfa-11077	342	17	no	no	INTJ
ajfa-11077	342	18	.	.	NOUN
ajfa-11077	342	19	1	1	NUM
ajfa-11077	342	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	342	21	302	302	NUM
ajfa-11077	342	22	table	table	NOUN
ajfa-11077	342	23	7	7	NUM
ajfa-11077	342	24	.	.	PUNCT
ajfa-11077	343	1	distribution	distribution	NOUN
ajfa-11077	343	2	of	of	ADP
ajfa-11077	343	3	guests	guest	NOUN
ajfa-11077	343	4	’	'	PUNCT
ajfa-11077	343	5	sources	source	NOUN
ajfa-11077	343	6	in	in	ADP
ajfa-11077	343	7	2012	2012	NUM
ajfa-11077	343	8	hotel	hotel	NOUN
ajfa-11077	343	9	region	region	NOUN
ajfa-11077	343	10	royal	royal	PROPN
ajfa-11077	343	11	hotel	hotel	NOUN
ajfa-11077	343	12	pleasant	pleasant	ADJ
ajfa-11077	343	13	hotels	hotel	NOUN
ajfa-11077	343	14	(	(	PUNCT
ajfa-11077	343	15	taoyuan	taoyuan	PROPN
ajfa-11077	343	16	)	)	PUNCT
ajfa-11077	343	17	ambassa	ambassa	PROPN
ajfa-11077	343	18	dor	dor	PROPN
ajfa-11077	343	19	hotel	hotel	PROPN
ajfa-11077	343	20	landis	landis	PROPN
ajfa-11077	343	21	taipei	taipei	PROPN
ajfa-11077	343	22	hotel	hotel	PROPN
ajfa-11077	343	23	formosa	formosa	PROPN
ajfa-11077	343	24	internatio	internatio	PROPN
ajfa-11077	343	25	nal	nal	PROPN
ajfa-11077	343	26	hotels	hotel	NOUN
ajfa-11077	343	27	leofoo	leofoo	PROPN
ajfa-11077	343	28	westin	westin	PROPN
ajfa-11077	343	29	hotel	hotel	PROPN
ajfa-11077	343	30	holiday	holiday	PROPN
ajfa-11077	343	31	garden	garden	PROPN
ajfa-11077	343	32	hotel	hotel	NOUN
ajfa-11077	343	33	farglory	farglory	NOUN
ajfa-11077	343	34	hotel	hotel	NOUN
ajfa-11077	343	35	domestic	domestic	ADJ
ajfa-11077	343	36	55.2	55.2	NUM
ajfa-11077	343	37	18.0	18.0	NUM
ajfa-11077	343	38	34.0	34.0	NUM
ajfa-11077	343	39	24.2	24.2	NUM
ajfa-11077	343	40	21.3	21.3	NUM
ajfa-11077	343	41	9.7	9.7	NUM
ajfa-11077	343	42	61.2	61.2	NUM
ajfa-11077	343	43	94.9	94.9	NUM
ajfa-11077	343	44	oversea	oversea	ADJ
ajfa-11077	343	45	chinese	chinese	PROPN
ajfa-11077	343	46	0.0	0.0	NUM
ajfa-11077	343	47	7.7	7.7	NUM
ajfa-11077	343	48	1.9	1.9	NUM
ajfa-11077	343	49	6.4	6.4	NUM
ajfa-11077	343	50	0.0	0.0	NUM
ajfa-11077	343	51	0.0	0.0	NUM
ajfa-11077	343	52	1.0	1.0	NUM
ajfa-11077	343	53	0.0	0.0	NUM
ajfa-11077	343	54	mainland	mainland	NOUN
ajfa-11077	343	55	6.35	6.35	NUM
ajfa-11077	343	56	56.35	56.35	NUM
ajfa-11077	343	57	13.29	13.29	NUM
ajfa-11077	343	58	11.08	11.08	NUM
ajfa-11077	343	59	11.5	11.5	NUM
ajfa-11077	343	60	19.4	19.4	NUM
ajfa-11077	343	61	22.45	22.45	NUM
ajfa-11077	343	62	3.9	3.9	NUM
ajfa-11077	343	63	north	north	NOUN
ajfa-11077	343	64	american	american	ADJ
ajfa-11077	343	65	4.7	4.7	NUM
ajfa-11077	343	66	0.3	0.3	NUM
ajfa-11077	343	67	6.9	6.9	NUM
ajfa-11077	343	68	10.3	10.3	NUM
ajfa-11077	343	69	8.4	8.4	NUM
ajfa-11077	343	70	20.8	20.8	NUM
ajfa-11077	343	71	0.8	0.8	NUM
ajfa-11077	343	72	0.2	0.2	NUM
ajfa-11077	343	73	japan	japan	PROPN
ajfa-11077	343	74	21.9	21.9	NUM
ajfa-11077	343	75	2.1	2.1	NUM
ajfa-11077	343	76	29.9	29.9	NUM
ajfa-11077	343	77	29.9	29.9	NUM
ajfa-11077	343	78	36.7	36.7	NUM
ajfa-11077	343	79	17.3	17.3	NUM
ajfa-11077	343	80	7.0	7.0	NUM
ajfa-11077	343	81	0.1	0.1	NUM
ajfa-11077	343	82	asian	asian	ADJ
ajfa-11077	343	83	(	(	PUNCT
ajfa-11077	343	84	exclusive	exclusive	ADJ
ajfa-11077	343	85	japanese	japanese	PROPN
ajfa-11077	343	86	)	)	PUNCT
ajfa-11077	343	87	5.0	5.0	NUM
ajfa-11077	343	88	9.2	9.2	NUM
ajfa-11077	343	89	8.2	8.2	NUM
ajfa-11077	343	90	8.4	8.4	NUM
ajfa-11077	343	91	15.3	15.3	NUM
ajfa-11077	343	92	25.9	25.9	NUM
ajfa-11077	343	93	6.5	6.5	NUM
ajfa-11077	343	94	0.5	0.5	NUM
ajfa-11077	343	95	european	european	PROPN
ajfa-11077	343	96	2.5	2.5	NUM
ajfa-11077	343	97	0.3	0.3	NUM
ajfa-11077	343	98	3.8	3.8	NUM
ajfa-11077	343	99	7.5	7.5	NUM
ajfa-11077	343	100	4.7	4.7	NUM
ajfa-11077	343	101	4.3	4.3	NUM
ajfa-11077	343	102	0.5	0.5	NUM
ajfa-11077	343	103	0.1	0.1	NUM
ajfa-11077	343	104	australia	australia	PROPN
ajfa-11077	343	105	0.3	0.3	NUM
ajfa-11077	343	106	0.0	0.0	NUM
ajfa-11077	343	107	0.4	0.4	NUM
ajfa-11077	343	108	1.8	1.8	NUM
ajfa-11077	343	109	0.9	0.9	NUM
ajfa-11077	343	110	1.4	1.4	NUM
ajfa-11077	343	111	0.5	0.5	NUM
ajfa-11077	343	112	0.0	0.0	NUM
ajfa-11077	343	113	others	other	NOUN
ajfa-11077	343	114	4.1	4.1	NUM
ajfa-11077	343	115	6.1	6.1	NUM
ajfa-11077	343	116	1.6	1.6	NUM
ajfa-11077	343	117	0.4	0.4	NUM
ajfa-11077	343	118	1.2	1.2	NUM
ajfa-11077	343	119	1.2	1.2	NUM
ajfa-11077	343	120	0.0	0.0	NUM
ajfa-11077	343	121	0.3	0.3	NUM
ajfa-11077	343	122	total	total	NOUN
ajfa-11077	343	123	(	(	PUNCT
ajfa-11077	343	124	%	%	NOUN
ajfa-11077	343	125	)	)	PUNCT
ajfa-11077	343	126	100	100	NUM
ajfa-11077	343	127	100	100	NUM
ajfa-11077	343	128	100	100	NUM
ajfa-11077	343	129	100	100	NUM
ajfa-11077	343	130	100	100	NUM
ajfa-11077	343	131	100	100	NUM
ajfa-11077	343	132	100	100	NUM
ajfa-11077	343	133	100	100	NUM
ajfa-11077	343	134	source	source	NOUN
ajfa-11077	343	135	:	:	PUNCT
ajfa-11077	343	136	tourism	tourism	NOUN
ajfa-11077	343	137	bureau	bureau	NOUN
ajfa-11077	343	138	,	,	PUNCT
ajfa-11077	343	139	m.o.t.c	m.o.t.c	PROPN
ajfa-11077	343	140	.	.	PROPN
ajfa-11077	343	141	,	,	PUNCT
ajfa-11077	343	142	republic	republic	PROPN
ajfa-11077	343	143	of	of	ADP
ajfa-11077	343	144	china	china	PROPN
ajfa-11077	343	145	(	(	PUNCT
ajfa-11077	343	146	taiwan	taiwan	PROPN
ajfa-11077	343	147	)	)	PUNCT
ajfa-11077	343	148	.	.	PUNCT
ajfa-11077	344	1	kim	kim	PROPN
ajfa-11077	344	2	(	(	PUNCT
ajfa-11077	344	3	2013	2013	NUM
ajfa-11077	344	4	)	)	PUNCT
ajfa-11077	344	5	discussed	discuss	VERB
ajfa-11077	344	6	of	of	ADP
ajfa-11077	344	7	foreign	foreign	ADJ
ajfa-11077	344	8	exchange	exchange	NOUN
ajfa-11077	344	9	position	position	NOUN
ajfa-11077	344	10	and	and	CCONJ
ajfa-11077	344	11	make	make	VERB
ajfa-11077	344	12	recommendations	recommendation	NOUN
ajfa-11077	344	13	in	in	ADP
ajfa-11077	344	14	table	table	NOUN
ajfa-11077	344	15	8.in	8.in	NUM
ajfa-11077	344	16	table	table	NOUN
ajfa-11077	344	17	4,5	4,5	NUM
ajfa-11077	344	18	,	,	PUNCT
ajfa-11077	344	19	and	and	CCONJ
ajfa-11077	344	20	6	6	NUM
ajfa-11077	344	21	,	,	PUNCT
ajfa-11077	344	22	a	a	DET
ajfa-11077	344	23	portfolio	portfolio	NOUN
ajfa-11077	344	24	of	of	ADP
ajfa-11077	344	25	currencies	currency	NOUN
ajfa-11077	344	26	that	that	PRON
ajfa-11077	344	27	has	have	VERB
ajfa-11077	344	28	significant	significant	ADJ
ajfa-11077	344	29	impacts	impact	NOUN
ajfa-11077	344	30	on	on	ADP
ajfa-11077	344	31	the	the	DET
ajfa-11077	344	32	company	company	NOUN
ajfa-11077	344	33	’s	’s	PART
ajfa-11077	344	34	roa/	roa/	PROPN
ajfa-11077	344	35	roe	roe	NOUN
ajfa-11077	344	36	can	can	AUX
ajfa-11077	344	37	be	be	AUX
ajfa-11077	344	38	formed	form	VERB
ajfa-11077	344	39	.	.	PUNCT
ajfa-11077	345	1	markowitz	markowitz	PROPN
ajfa-11077	345	2	(	(	PUNCT
ajfa-11077	345	3	1952	1952	NUM
ajfa-11077	345	4	)	)	PUNCT
ajfa-11077	345	5	proposed	propose	VERB
ajfa-11077	345	6	the	the	DET
ajfa-11077	345	7	modern	modern	ADJ
ajfa-11077	345	8	portfolio	portfolio	NOUN
ajfa-11077	345	9	theory	theory	NOUN
ajfa-11077	345	10	that	that	SCONJ
ajfa-11077	345	11	based	base	VERB
ajfa-11077	345	12	on	on	ADP
ajfa-11077	345	13	the	the	DET
ajfa-11077	345	14	weighted	weighted	ADJ
ajfa-11077	345	15	each	each	DET
ajfa-11077	345	16	company	company	NOUN
ajfa-11077	345	17	the	the	DET
ajfa-11077	345	18	average	average	ADJ
ajfa-11077	345	19	cost	cost	NOUN
ajfa-11077	345	20	of	of	ADP
ajfa-11077	345	21	capital	capital	NOUN
ajfa-11077	345	22	(	(	PUNCT
ajfa-11077	345	23	wacc	wacc	PROPN
ajfa-11077	345	24	)	)	PUNCT
ajfa-11077	345	25	,	,	PUNCT
ajfa-11077	345	26	and	and	CCONJ
ajfa-11077	345	27	along	along	ADP
ajfa-11077	345	28	with	with	ADP
ajfa-11077	345	29	the	the	DET
ajfa-11077	345	30	calculation	calculation	NOUN
ajfa-11077	345	31	of	of	ADP
ajfa-11077	345	32	matlab	matlab	PROPN
ajfa-11077	345	33	programs	program	NOUN
ajfa-11077	345	34	for	for	ADP
ajfa-11077	345	35	foreign	foreign	ADJ
ajfa-11077	345	36	exchange	exchange	NOUN
ajfa-11077	345	37	positions	position	NOUN
ajfa-11077	345	38	,	,	PUNCT
ajfa-11077	345	39	an	an	DET
ajfa-11077	345	40	optimum	optimum	ADJ
ajfa-11077	345	41	allocation	allocation	NOUN
ajfa-11077	345	42	of	of	ADP
ajfa-11077	345	43	currencies	currency	NOUN
ajfa-11077	345	44	can	can	AUX
ajfa-11077	345	45	reach	reach	VERB
ajfa-11077	345	46	the	the	DET
ajfa-11077	345	47	lowest	low	ADJ
ajfa-11077	345	48	degree	degree	NOUN
ajfa-11077	345	49	of	of	ADP
ajfa-11077	345	50	risk	risk	NOUN
ajfa-11077	345	51	under	under	ADP
ajfa-11077	345	52	a	a	DET
ajfa-11077	345	53	pre	pre	ADJ
ajfa-11077	345	54	-	-	ADJ
ajfa-11077	345	55	specified	specified	ADJ
ajfa-11077	345	56	rate	rate	NOUN
ajfa-11077	345	57	of	of	ADP
ajfa-11077	345	58	return	return	NOUN
ajfa-11077	345	59	constraint	constraint	NOUN
ajfa-11077	345	60	.	.	PUNCT
ajfa-11077	346	1	asian	asian	ADJ
ajfa-11077	346	2	journal	journal	PROPN
ajfa-11077	346	3	of	of	ADP
ajfa-11077	346	4	finance	finance	PROPN
ajfa-11077	346	5	&	&	CCONJ
ajfa-11077	346	6	accounting	accounting	PROPN
ajfa-11077	346	7	issn	issn	PROPN
ajfa-11077	346	8	1946	1946	NUM
ajfa-11077	346	9	-	-	PUNCT
ajfa-11077	346	10	052x	052x	PROPN
ajfa-11077	346	11	2017	2017	NUM
ajfa-11077	346	12	,	,	PUNCT
ajfa-11077	346	13	vol	vol	NOUN
ajfa-11077	346	14	.	.	NOUN
ajfa-11077	346	15	9	9	NUM
ajfa-11077	346	16	,	,	PUNCT
ajfa-11077	346	17	no	no	INTJ
ajfa-11077	346	18	.	.	NOUN
ajfa-11077	346	19	1	1	NUM
ajfa-11077	346	20	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	346	21	303	303	NUM
ajfa-11077	346	22	table	table	NOUN
ajfa-11077	346	23	8	8	NUM
ajfa-11077	346	24	.	.	PUNCT
ajfa-11077	347	1	optimal	optimal	ADJ
ajfa-11077	347	2	portfolio	portfolio	NOUN
ajfa-11077	347	3	of	of	ADP
ajfa-11077	347	4	foreign	foreign	ADJ
ajfa-11077	347	5	currencies	currency	NOUN
ajfa-11077	347	6	for	for	ADP
ajfa-11077	347	7	each	each	DET
ajfa-11077	347	8	company	company	NOUN
ajfa-11077	347	9	.	.	PUNCT
ajfa-11077	348	1	company	company	NOUN
ajfa-11077	348	2	2702	2702	NUM
ajfa-11077	348	3	2704	2704	NUM
ajfa-11077	348	4	2705	2705	NUM
ajfa-11077	348	5	2706	2706	NUM
ajfa-11077	348	6	2707	2707	NUM
ajfa-11077	348	7	2718	2718	NUM
ajfa-11077	348	8	usd	usd	NOUN
ajfa-11077	348	9	0.00	0.00	NUM
ajfa-11077	348	10	6.35	6.35	NUM
ajfa-11077	348	11	gbp	gbp	NOUN
ajfa-11077	348	12	62.18	62.18	NUM
ajfa-11077	348	13	eur	eur	PROPN
ajfa-11077	348	14	20.47	20.47	NUM
ajfa-11077	348	15	13.79	13.79	NUM
ajfa-11077	348	16	jpy	jpy	PROPN
ajfa-11077	348	17	2.32	2.32	NUM
ajfa-11077	348	18	1.30	1.30	NUM
ajfa-11077	348	19	2.09	2.09	NUM
ajfa-11077	348	20	0.00	0.00	NUM
ajfa-11077	348	21	krw	krw	PROPN
ajfa-11077	348	22	3.84	3.84	NUM
ajfa-11077	348	23	1.56	1.56	NUM
ajfa-11077	348	24	30.56	30.56	NUM
ajfa-11077	348	25	cny	cny	NOUN
ajfa-11077	348	26	0.00	0.00	NUM
ajfa-11077	348	27	19.47	19.47	NUM
ajfa-11077	348	28	0.00	0.00	NUM
ajfa-11077	348	29	aud	aud	NOUN
ajfa-11077	348	30	52.35	52.35	NUM
ajfa-11077	348	31	83.81	83.81	NUM
ajfa-11077	348	32	74.37	74.37	NUM
ajfa-11077	348	33	sgd	sgd	X
ajfa-11077	348	34	84.35	84.35	NUM
ajfa-11077	348	35	3.84	3.84	NUM
ajfa-11077	348	36	0.00	0.00	NUM
ajfa-11077	348	37	idr	idr	PROPN
ajfa-11077	348	38	1.73	1.73	NUM
ajfa-11077	348	39	6.16	6.16	NUM
ajfa-11077	348	40	7.14	7.14	NUM
ajfa-11077	348	41	myr	myr	NOUN
ajfa-11077	348	42	1.85	1.85	NUM
ajfa-11077	348	43	9.94	9.94	NUM
ajfa-11077	348	44	5.17	5.17	NUM
ajfa-11077	348	45	5.53	5.53	NUM
ajfa-11077	348	46	thb	thb	NUM
ajfa-11077	348	47	0.00	0.00	NUM
ajfa-11077	348	48	php	php	NOUN
ajfa-11077	348	49	0.00	0.00	NUM
ajfa-11077	348	50	7.19	7.19	NUM
ajfa-11077	348	51	wacc	wacc	PROPN
ajfa-11077	348	52	(	(	PUNCT
ajfa-11077	348	53	%	%	NOUN
ajfa-11077	348	54	)	)	PUNCT
ajfa-11077	348	55	10.00	10.00	NUM
ajfa-11077	348	56	12.00	12.00	NUM
ajfa-11077	348	57	13.50	13.50	NUM
ajfa-11077	348	58	12.80	12.80	NUM
ajfa-11077	348	59	9.50	9.50	NUM
ajfa-11077	348	60	12.60	12.60	NUM
ajfa-11077	348	61	portfolio	portfolio	NOUN
ajfa-11077	348	62	risk	risk	NOUN
ajfa-11077	348	63	(	(	PUNCT
ajfa-11077	348	64	%	%	INTJ
ajfa-11077	348	65	)	)	PUNCT
ajfa-11077	348	66	0.431	0.431	NUM
ajfa-11077	348	67	1.850	1.850	NUM
ajfa-11077	348	68	0.513	0.513	NUM
ajfa-11077	348	69	2.501	2.501	NUM
ajfa-11077	348	70	0.356	0.356	NUM
ajfa-11077	348	71	0.458	0.458	NUM
ajfa-11077	348	72	asian	asian	ADJ
ajfa-11077	348	73	journal	journal	NOUN
ajfa-11077	348	74	of	of	ADP
ajfa-11077	348	75	finance	finance	PROPN
ajfa-11077	348	76	&	&	CCONJ
ajfa-11077	348	77	accounting	accounting	PROPN
ajfa-11077	348	78	issn	issn	PROPN
ajfa-11077	348	79	1946	1946	NUM
ajfa-11077	348	80	-	-	PUNCT
ajfa-11077	348	81	052x	052x	PROPN
ajfa-11077	348	82	2017	2017	NUM
ajfa-11077	348	83	,	,	PUNCT
ajfa-11077	348	84	vol	vol	NOUN
ajfa-11077	348	85	.	.	NOUN
ajfa-11077	348	86	9	9	NUM
ajfa-11077	348	87	,	,	PUNCT
ajfa-11077	348	88	no	no	INTJ
ajfa-11077	348	89	.	.	NOUN
ajfa-11077	348	90	1	1	NUM
ajfa-11077	349	1	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	349	2	304	304	NUM
ajfa-11077	349	3	table	table	NOUN
ajfa-11077	349	4	8	8	NUM
ajfa-11077	349	5	.	.	PUNCT
ajfa-11077	350	1	optimal	optimal	ADJ
ajfa-11077	350	2	portfolio	portfolio	NOUN
ajfa-11077	350	3	of	of	ADP
ajfa-11077	350	4	foreign	foreign	ADJ
ajfa-11077	350	5	currencies	currency	NOUN
ajfa-11077	350	6	for	for	ADP
ajfa-11077	350	7	each	each	DET
ajfa-11077	350	8	company	company	NOUN
ajfa-11077	350	9	.	.	PUNCT
ajfa-11077	351	1	(	(	PUNCT
ajfa-11077	351	2	continued	continue	VERB
ajfa-11077	351	3	)	)	PUNCT
ajfa-11077	351	4	currency	currency	NOUN
ajfa-11077	351	5	2722	2722	NUM
ajfa-11077	351	6	2724	2724	NUM
ajfa-11077	351	7	5701	5701	NUM
ajfa-11077	351	8	5703	5703	NUM
ajfa-11077	351	9	5704	5704	NUM
ajfa-11077	351	10	full	full	ADJ
ajfa-11077	351	11	usd	usd	NOUN
ajfa-11077	351	12	3.27	3.27	NUM
ajfa-11077	351	13	2.26	2.26	NUM
ajfa-11077	351	14	0.00	0.00	NUM
ajfa-11077	351	15	gbp	gbp	NOUN
ajfa-11077	351	16	2.24	2.24	NUM
ajfa-11077	351	17	34.33	34.33	NUM
ajfa-11077	351	18	0.29	0.29	NUM
ajfa-11077	351	19	eur	eur	PROPN
ajfa-11077	351	20	6.04	6.04	NUM
ajfa-11077	351	21	44.14	44.14	NUM
ajfa-11077	351	22	jpy	jpy	PROPN
ajfa-11077	351	23	0.00	0.00	NUM
ajfa-11077	351	24	0.00	0.00	NUM
ajfa-11077	351	25	0.11	0.11	NUM
ajfa-11077	351	26	0.00	0.00	NUM
ajfa-11077	351	27	krw	krw	PROPN
ajfa-11077	351	28	6.07	6.07	NUM
ajfa-11077	351	29	0.31	0.31	NUM
ajfa-11077	351	30	0.76	0.76	NUM
ajfa-11077	351	31	14.90	14.90	NUM
ajfa-11077	351	32	0.07	0.07	NUM
ajfa-11077	351	33	cny	cny	NOUN
ajfa-11077	351	34	5.17	5.17	NUM
ajfa-11077	351	35	4.47	4.47	NUM
ajfa-11077	351	36	13.80	13.80	NUM
ajfa-11077	351	37	1.49	1.49	NUM
ajfa-11077	351	38	aud	aud	NOUN
ajfa-11077	351	39	73.79	73.79	NUM
ajfa-11077	351	40	82.84	82.84	NUM
ajfa-11077	351	41	85.53	85.53	NUM
ajfa-11077	351	42	79.93	79.93	NUM
ajfa-11077	351	43	9.41	9.41	NUM
ajfa-11077	351	44	sgd	sgd	NOUN
ajfa-11077	351	45	0.00	0.00	NUM
ajfa-11077	351	46	0.00	0.00	NUM
ajfa-11077	351	47	0.00	0.00	NUM
ajfa-11077	351	48	0.00	0.00	NUM
ajfa-11077	351	49	idr	idr	PROPN
ajfa-11077	351	50	5.47	5.47	NUM
ajfa-11077	351	51	36.97	36.97	NUM
ajfa-11077	351	52	0.52	0.52	NUM
ajfa-11077	351	53	myr	myr	NOUN
ajfa-11077	351	54	4.66	4.66	NUM
ajfa-11077	351	55	11.47	11.47	NUM
ajfa-11077	351	56	13.03	13.03	NUM
ajfa-11077	351	57	0.64	0.64	NUM
ajfa-11077	351	58	thb	thb	NOUN
ajfa-11077	351	59	0.90	0.90	NUM
ajfa-11077	351	60	0.00	0.00	NUM
ajfa-11077	351	61	php	php	PROPN
ajfa-11077	351	62	43.44	43.44	NUM
ajfa-11077	351	63	wacc	wacc	PROPN
ajfa-11077	351	64	(	(	PUNCT
ajfa-11077	351	65	%	%	NOUN
ajfa-11077	351	66	)	)	PUNCT
ajfa-11077	351	67	10.60	10.60	NUM
ajfa-11077	351	68	9.80	9.80	NUM
ajfa-11077	351	69	13.20	13.20	NUM
ajfa-11077	351	70	11.50	11.50	NUM
ajfa-11077	351	71	9.80	9.80	NUM
ajfa-11077	351	72	12.20	12.20	NUM
ajfa-11077	351	73	portfolio	portfolio	NOUN
ajfa-11077	351	74	risk	risk	NOUN
ajfa-11077	351	75	(	(	PUNCT
ajfa-11077	351	76	%	%	INTJ
ajfa-11077	351	77	)	)	PUNCT
ajfa-11077	351	78	0.515	0.515	NUM
ajfa-11077	351	79	0.481	0.481	NUM
ajfa-11077	351	80	0.520	0.520	NUM
ajfa-11077	351	81	0.476	0.476	NUM
ajfa-11077	351	82	2.062	2.062	NUM
ajfa-11077	351	83	0.055	0.055	NUM
ajfa-11077	351	84	the	the	DET
ajfa-11077	351	85	results	result	NOUN
ajfa-11077	351	86	in	in	ADP
ajfa-11077	351	87	table	table	NOUN
ajfa-11077	351	88	8	8	NUM
ajfa-11077	351	89	show	show	VERB
ajfa-11077	351	90	the	the	DET
ajfa-11077	351	91	optimal	optimal	ADJ
ajfa-11077	351	92	allocation	allocation	NOUN
ajfa-11077	351	93	of	of	ADP
ajfa-11077	351	94	currencies	currency	NOUN
ajfa-11077	351	95	for	for	ADP
ajfa-11077	351	96	each	each	DET
ajfa-11077	351	97	company	company	NOUN
ajfa-11077	351	98	.	.	PUNCT
ajfa-11077	352	1	japanese	japanese	ADJ
ajfa-11077	352	2	yen	yen	NOUN
ajfa-11077	352	3	,	,	PUNCT
ajfa-11077	352	4	korean	korean	PROPN
ajfa-11077	352	5	won	win	VERB
ajfa-11077	352	6	,	,	PUNCT
ajfa-11077	352	7	chinese	chinese	PROPN
ajfa-11077	352	8	yuan	yuan	PROPN
ajfa-11077	352	9	,	,	PUNCT
ajfa-11077	352	10	australian	australian	ADJ
ajfa-11077	352	11	dollar	dollar	NOUN
ajfa-11077	352	12	and	and	CCONJ
ajfa-11077	352	13	malaysian	malaysian	ADJ
ajfa-11077	352	14	ringgit	ringgit	NOUN
ajfa-11077	352	15	configuration	configuration	NOUN
ajfa-11077	352	16	still	still	ADV
ajfa-11077	352	17	play	play	VERB
ajfa-11077	352	18	significant	significant	ADJ
ajfa-11077	352	19	roles	role	NOUN
ajfa-11077	352	20	among	among	ADP
ajfa-11077	352	21	those	those	DET
ajfa-11077	352	22	target	target	NOUN
ajfa-11077	352	23	companies	company	NOUN
ajfa-11077	352	24	,	,	PUNCT
ajfa-11077	352	25	including	include	VERB
ajfa-11077	352	26	leofoo	leofoo	PROPN
ajfa-11077	352	27	development	development	PROPN
ajfa-11077	352	28	co.	co.	PROPN
ajfa-11077	352	29	,	,	PUNCT
ajfa-11077	352	30	ltd	ltd	PROPN
ajfa-11077	352	31	.	.	PROPN
ajfa-11077	352	32	(	(	PUNCT
ajfa-11077	352	33	2705	2705	NUM
ajfa-11077	352	34	)	)	PUNCT
ajfa-11077	352	35	,	,	PUNCT
ajfa-11077	352	36	formosa	formosa	PROPN
ajfa-11077	352	37	international	international	PROPN
ajfa-11077	352	38	hotels	hotel	NOUN
ajfa-11077	352	39	corporation	corporation	NOUN
ajfa-11077	352	40	(	(	PUNCT
ajfa-11077	352	41	2707),pleasant	2707),pleasant	PROPN
ajfa-11077	352	42	hotels	hotel	NOUN
ajfa-11077	352	43	international	international	ADJ
ajfa-11077	352	44	inc.(2718	inc.(2718	NOUN
ajfa-11077	352	45	)	)	PUNCT
ajfa-11077	352	46	,	,	PUNCT
ajfa-11077	352	47	chateau	chateau	PROPN
ajfa-11077	352	48	international	international	PROPN
ajfa-11077	352	49	development	development	PROPN
ajfa-11077	352	50	co.	co.	PROPN
ajfa-11077	352	51	,	,	PUNCT
ajfa-11077	352	52	ltd	ltd	PROPN
ajfa-11077	352	53	.	.	PROPN
ajfa-11077	352	54	(	(	PUNCT
ajfa-11077	352	55	2722	2722	NUM
ajfa-11077	352	56	)	)	PUNCT
ajfa-11077	352	57	,	,	PUNCT
ajfa-11077	352	58	fx	fx	PROPN
ajfa-11077	352	59	hotels	hotels	PROPN
ajfa-11077	352	60	group	group	PROPN
ajfa-11077	352	61	inc	inc	PROPN
ajfa-11077	352	62	.	.	PROPN
ajfa-11077	353	1	(	(	PUNCT
ajfa-11077	353	2	2724	2724	NUM
ajfa-11077	353	3	-	-	SYM
ajfa-11077	353	4	f	f	NOUN
ajfa-11077	353	5	)	)	PUNCT
ajfa-11077	353	6	,	,	PUNCT
ajfa-11077	353	7	janfusun	janfusun	PROPN
ajfa-11077	353	8	fancyworld	fancyworld	PROPN
ajfa-11077	353	9	corp	corp	PROPN
ajfa-11077	353	10	.	.	PROPN
ajfa-11077	353	11	(	(	PUNCT
ajfa-11077	353	12	5701	5701	NUM
ajfa-11077	353	13	)	)	PUNCT
ajfa-11077	353	14	,	,	PUNCT
ajfa-11077	353	15	the	the	DET
ajfa-11077	353	16	landis	landis	PROPN
ajfa-11077	353	17	taipei	taipei	PROPN
ajfa-11077	353	18	hotel	hotel	PROPN
ajfa-11077	353	19	co.	co.	PROPN
ajfa-11077	353	20	,	,	PUNCT
ajfa-11077	353	21	ltd	ltd	PROPN
ajfa-11077	353	22	.	.	PROPN
ajfa-11077	354	1	(	(	PUNCT
ajfa-11077	354	2	5703).the	5703).the	DET
ajfa-11077	354	3	configuration	configuration	NOUN
ajfa-11077	354	4	of	of	ADP
ajfa-11077	354	5	the	the	DET
ajfa-11077	354	6	australian	australian	ADJ
ajfa-11077	354	7	dollar	dollar	NOUN
ajfa-11077	354	8	reached	reach	VERB
ajfa-11077	354	9	52.35	52.35	NUM
ajfa-11077	354	10	%	%	NOUN
ajfa-11077	354	11	,	,	PUNCT
ajfa-11077	354	12	83.81	83.81	NUM
ajfa-11077	354	13	%	%	NOUN
ajfa-11077	354	14	,	,	PUNCT
ajfa-11077	354	15	44.37	44.37	NUM
ajfa-11077	354	16	%	%	NOUN
ajfa-11077	354	17	,	,	PUNCT
ajfa-11077	354	18	73.79%,85.48	73.79%,85.48	ADP
ajfa-11077	354	19	%	%	INTJ
ajfa-11077	354	20	,	,	PUNCT
ajfa-11077	354	21	82.84	82.84	NUM
ajfa-11077	354	22	%	%	NOUN
ajfa-11077	354	23	,	,	PUNCT
ajfa-11077	354	24	85.53	85.53	NUM
ajfa-11077	354	25	%	%	NOUN
ajfa-11077	354	26	and	and	CCONJ
ajfa-11077	354	27	79.93	79.93	NUM
ajfa-11077	354	28	%	%	NOUN
ajfa-11077	354	29	,	,	PUNCT
ajfa-11077	354	30	respectively	respectively	ADV
ajfa-11077	354	31	,	,	PUNCT
ajfa-11077	354	32	more	more	ADJ
ajfa-11077	354	33	than	than	ADP
ajfa-11077	354	34	50	50	NUM
ajfa-11077	354	35	%	%	NOUN
ajfa-11077	354	36	have	have	AUX
ajfa-11077	354	37	switched	switch	VERB
ajfa-11077	354	38	.	.	PUNCT
ajfa-11077	355	1	hotel	hotel	NOUN
ajfa-11077	355	2	holiday	holiday	PROPN
ajfa-11077	355	3	garden(2702	garden(2702	PROPN
ajfa-11077	355	4	)	)	PUNCT
ajfa-11077	355	5	,	,	PUNCT
ajfa-11077	355	6	leofoo	leofoo	PROPN
ajfa-11077	355	7	development	development	PROPN
ajfa-11077	355	8	co.	co.	PROPN
ajfa-11077	355	9	,	,	PUNCT
ajfa-11077	355	10	ltd	ltd	PROPN
ajfa-11077	355	11	.	.	PROPN
ajfa-11077	355	12	(	(	PUNCT
ajfa-11077	355	13	2705	2705	NUM
ajfa-11077	355	14	)	)	PUNCT
ajfa-11077	355	15	,	,	PUNCT
ajfa-11077	355	16	first	first	ADJ
ajfa-11077	355	17	hotel	hotel	PROPN
ajfa-11077	355	18	company	company	PROPN
ajfa-11077	355	19	ltd	ltd	PROPN
ajfa-11077	355	20	.	.	PROPN
ajfa-11077	355	21	(	(	PUNCT
ajfa-11077	355	22	2706	2706	NUM
ajfa-11077	355	23	)	)	PUNCT
ajfa-11077	355	24	,	,	PUNCT
ajfa-11077	355	25	chateau	chateau	PROPN
ajfa-11077	355	26	international	international	PROPN
ajfa-11077	355	27	development	development	PROPN
ajfa-11077	355	28	co.	co.	PROPN
ajfa-11077	355	29	,	,	PUNCT
ajfa-11077	355	30	ltd	ltd	PROPN
ajfa-11077	355	31	.	.	PROPN
ajfa-11077	356	1	(	(	PUNCT
ajfa-11077	356	2	2722),fx	2722),fx	NUM
ajfa-11077	356	3	hotels	hotel	NOUN
ajfa-11077	356	4	group	group	PROPN
ajfa-11077	356	5	inc	inc	PROPN
ajfa-11077	356	6	.	.	PROPN
ajfa-11077	357	1	(	(	PUNCT
ajfa-11077	357	2	2724	2724	NUM
ajfa-11077	357	3	-	-	SYM
ajfa-11077	357	4	f	f	NOUN
ajfa-11077	357	5	)	)	PUNCT
ajfa-11077	357	6	,	,	PUNCT
ajfa-11077	357	7	janfusun	janfusun	PROPN
ajfa-11077	357	8	fancyworld	fancyworld	PROPN
ajfa-11077	357	9	corp	corp	PROPN
ajfa-11077	357	10	.	.	PROPN
ajfa-11077	357	11	(	(	PUNCT
ajfa-11077	357	12	5701	5701	NUM
ajfa-11077	357	13	)	)	PUNCT
ajfa-11077	357	14	,	,	PUNCT
ajfa-11077	357	15	and	and	CCONJ
ajfa-11077	357	16	landis	landis	PROPN
ajfa-11077	357	17	taipei	taipei	PROPN
ajfa-11077	357	18	hotel	hotel	PROPN
ajfa-11077	357	19	co.	co.	PROPN
ajfa-11077	357	20	,	,	PUNCT
ajfa-11077	357	21	ltd.(5703	ltd.(5703	NOUN
ajfa-11077	357	22	)	)	PUNCT
ajfa-11077	357	23	for	for	ADP
ajfa-11077	357	24	the	the	DET
ajfa-11077	357	25	korean	korean	ADJ
ajfa-11077	357	26	asian	asian	ADJ
ajfa-11077	357	27	journal	journal	PROPN
ajfa-11077	357	28	of	of	ADP
ajfa-11077	357	29	finance	finance	PROPN
ajfa-11077	357	30	&	&	CCONJ
ajfa-11077	357	31	accounting	accounting	PROPN
ajfa-11077	357	32	issn	issn	PROPN
ajfa-11077	357	33	1946	1946	NUM
ajfa-11077	357	34	-	-	PUNCT
ajfa-11077	357	35	052x	052x	PROPN
ajfa-11077	357	36	2017	2017	NUM
ajfa-11077	357	37	,	,	PUNCT
ajfa-11077	357	38	vol	vol	NOUN
ajfa-11077	357	39	.	.	NOUN
ajfa-11077	357	40	9	9	NUM
ajfa-11077	357	41	,	,	PUNCT
ajfa-11077	357	42	no	no	INTJ
ajfa-11077	357	43	.	.	NOUN
ajfa-11077	357	44	1	1	NUM
ajfa-11077	357	45	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	357	46	305	305	NUM
ajfa-11077	357	47	won	win	VERB
ajfa-11077	357	48	configuration	configuration	NOUN
ajfa-11077	357	49	,	,	PUNCT
ajfa-11077	357	50	respectively	respectively	ADV
ajfa-11077	357	51	,	,	PUNCT
ajfa-11077	357	52	3.84	3.84	NUM
ajfa-11077	357	53	%	%	NOUN
ajfa-11077	357	54	,	,	PUNCT
ajfa-11077	357	55	1.56	1.56	NUM
ajfa-11077	357	56	%	%	NOUN
ajfa-11077	357	57	,	,	PUNCT
ajfa-11077	357	58	30.56	30.56	NUM
ajfa-11077	357	59	%	%	NOUN
ajfa-11077	357	60	,	,	PUNCT
ajfa-11077	358	1	6.07%,0.31	6.07%,0.31	NUM
ajfa-11077	358	2	%	%	NOUN
ajfa-11077	358	3	,	,	PUNCT
ajfa-11077	358	4	0.76	0.76	NUM
ajfa-11077	358	5	%	%	NOUN
ajfa-11077	358	6	,	,	PUNCT
ajfa-11077	358	7	and	and	CCONJ
ajfa-11077	358	8	14.90	14.90	NUM
ajfa-11077	358	9	.	.	PUNCT
ajfa-11077	359	1	as	as	ADP
ajfa-11077	359	2	to	to	ADP
ajfa-11077	359	3	chinese	chinese	PROPN
ajfa-11077	359	4	yuan	yuan	PROPN
ajfa-11077	359	5	,	,	PUNCT
ajfa-11077	359	6	formosa	formosa	PROPN
ajfa-11077	359	7	international	international	PROPN
ajfa-11077	359	8	hotels	hotel	NOUN
ajfa-11077	359	9	corporation	corporation	NOUN
ajfa-11077	359	10	(	(	PUNCT
ajfa-11077	359	11	2707	2707	NUM
ajfa-11077	359	12	)	)	PUNCT
ajfa-11077	359	13	,	,	PUNCT
ajfa-11077	359	14	chateau	chateau	PROPN
ajfa-11077	359	15	international	international	PROPN
ajfa-11077	359	16	development	development	PROPN
ajfa-11077	359	17	co.	co.	PROPN
ajfa-11077	359	18	,	,	PUNCT
ajfa-11077	359	19	ltd	ltd	PROPN
ajfa-11077	359	20	.	.	PROPN
ajfa-11077	359	21	(	(	PUNCT
ajfa-11077	359	22	2722	2722	NUM
ajfa-11077	359	23	)	)	PUNCT
ajfa-11077	359	24	,	,	PUNCT
ajfa-11077	359	25	fx	fx	PROPN
ajfa-11077	359	26	hotels	hotels	PROPN
ajfa-11077	359	27	group	group	PROPN
ajfa-11077	359	28	inc	inc	PROPN
ajfa-11077	359	29	.	.	PROPN
ajfa-11077	359	30	(	(	PUNCT
ajfa-11077	359	31	2724	2724	NUM
ajfa-11077	359	32	-	-	SYM
ajfa-11077	359	33	f	f	NOUN
ajfa-11077	359	34	)	)	PUNCT
ajfa-11077	359	35	,	,	PUNCT
ajfa-11077	359	36	and	and	CCONJ
ajfa-11077	359	37	hotel	hotel	NOUN
ajfa-11077	359	38	royal	royal	NOUN
ajfa-11077	359	39	chihpen(5704	chihpen(5704	PUNCT
ajfa-11077	359	40	)	)	PUNCT
ajfa-11077	359	41	should	should	AUX
ajfa-11077	359	42	put	put	VERB
ajfa-11077	359	43	the	the	DET
ajfa-11077	359	44	weight	weight	NOUN
ajfa-11077	359	45	ranging	range	VERB
ajfa-11077	359	46	from	from	ADP
ajfa-11077	359	47	4.47	4.47	NUM
ajfa-11077	359	48	%	%	NOUN
ajfa-11077	359	49	to	to	ADP
ajfa-11077	359	50	19.47	19.47	NUM
ajfa-11077	359	51	%	%	NOUN
ajfa-11077	359	52	.	.	PUNCT
ajfa-11077	360	1	6	6	X
ajfa-11077	360	2	.	.	X
ajfa-11077	360	3	conclusions	conclusion	NOUN
ajfa-11077	360	4	in	in	ADP
ajfa-11077	360	5	recent	recent	ADJ
ajfa-11077	360	6	years	year	NOUN
ajfa-11077	360	7	,	,	PUNCT
ajfa-11077	360	8	the	the	DET
ajfa-11077	360	9	changes	change	NOUN
ajfa-11077	360	10	in	in	ADP
ajfa-11077	360	11	exchange	exchange	NOUN
ajfa-11077	360	12	rates	rate	NOUN
ajfa-11077	360	13	significantly	significantly	ADV
ajfa-11077	360	14	affect	affect	VERB
ajfa-11077	360	15	a	a	DET
ajfa-11077	360	16	company	company	NOUN
ajfa-11077	360	17	’s	’s	PART
ajfa-11077	360	18	performances	performance	NOUN
ajfa-11077	360	19	,	,	PUNCT
ajfa-11077	360	20	such	such	ADJ
ajfa-11077	360	21	as	as	ADP
ajfa-11077	360	22	,	,	PUNCT
ajfa-11077	360	23	roe	roe	PROPN
ajfa-11077	360	24	,	,	PUNCT
ajfa-11077	360	25	roa	roa	PROPN
ajfa-11077	360	26	,	,	PUNCT
ajfa-11077	360	27	etc	etc	X
ajfa-11077	360	28	.	.	X
ajfa-11077	360	29	faced	face	VERB
ajfa-11077	360	30	with	with	ADP
ajfa-11077	360	31	the	the	DET
ajfa-11077	360	32	dramatic	dramatic	ADJ
ajfa-11077	360	33	changes	change	NOUN
ajfa-11077	360	34	in	in	ADP
ajfa-11077	360	35	the	the	DET
ajfa-11077	360	36	international	international	ADJ
ajfa-11077	360	37	economic	economic	ADJ
ajfa-11077	360	38	environment	environment	NOUN
ajfa-11077	360	39	,	,	PUNCT
ajfa-11077	360	40	many	many	ADJ
ajfa-11077	360	41	central	central	ADJ
ajfa-11077	360	42	banks	bank	NOUN
ajfa-11077	360	43	continue	continue	VERB
ajfa-11077	360	44	to	to	PART
ajfa-11077	360	45	adopt	adopt	VERB
ajfa-11077	360	46	a	a	DET
ajfa-11077	360	47	more	more	ADV
ajfa-11077	360	48	aggressive	aggressive	ADJ
ajfa-11077	360	49	monetary	monetary	ADJ
ajfa-11077	360	50	policy	policy	NOUN
ajfa-11077	360	51	,	,	PUNCT
ajfa-11077	360	52	such	such	ADJ
ajfa-11077	360	53	as	as	ADP
ajfa-11077	360	54	,	,	PUNCT
ajfa-11077	360	55	negative	negative	ADJ
ajfa-11077	360	56	interest	interest	NOUN
ajfa-11077	360	57	rates	rate	NOUN
ajfa-11077	360	58	by	by	ADP
ajfa-11077	360	59	bank	bank	PROPN
ajfa-11077	360	60	of	of	ADP
ajfa-11077	360	61	japan	japan	PROPN
ajfa-11077	360	62	,	,	PUNCT
ajfa-11077	360	63	the	the	DET
ajfa-11077	360	64	monetary	monetary	ADJ
ajfa-11077	360	65	easing	easing	NOUN
ajfa-11077	360	66	by	by	ADP
ajfa-11077	360	67	ecb	ecb	NOUN
ajfa-11077	360	68	,	,	PUNCT
ajfa-11077	360	69	and	and	CCONJ
ajfa-11077	360	70	monetary	monetary	ADJ
ajfa-11077	360	71	easing	easing	NOUN
ajfa-11077	360	72	by	by	ADP
ajfa-11077	360	73	people	people	NOUN
ajfa-11077	360	74	's	's	PART
ajfa-11077	360	75	bank	bank	PROPN
ajfa-11077	360	76	of	of	ADP
ajfa-11077	360	77	china	china	PROPN
ajfa-11077	360	78	.	.	PUNCT
ajfa-11077	361	1	likewise	likewise	ADV
ajfa-11077	361	2	,	,	PUNCT
ajfa-11077	361	3	the	the	DET
ajfa-11077	361	4	gradual	gradual	ADJ
ajfa-11077	361	5	recovery	recovery	NOUN
ajfa-11077	361	6	of	of	ADP
ajfa-11077	361	7	the	the	DET
ajfa-11077	361	8	economy	economy	NOUN
ajfa-11077	361	9	of	of	ADP
ajfa-11077	361	10	the	the	DET
ajfa-11077	361	11	united	united	PROPN
ajfa-11077	361	12	states	states	PROPN
ajfa-11077	361	13	have	have	AUX
ajfa-11077	361	14	taken	take	VERB
ajfa-11077	361	15	actions	action	NOUN
ajfa-11077	361	16	to	to	PART
ajfa-11077	361	17	raise	raise	VERB
ajfa-11077	361	18	interest	interest	NOUN
ajfa-11077	361	19	rates	rate	NOUN
ajfa-11077	361	20	.	.	PUNCT
ajfa-11077	362	1	the	the	DET
ajfa-11077	362	2	auspices	auspex	NOUN
ajfa-11077	362	3	of	of	ADP
ajfa-11077	362	4	monetary	monetary	ADJ
ajfa-11077	362	5	policy	policy	NOUN
ajfa-11077	362	6	in	in	ADP
ajfa-11077	362	7	these	these	DET
ajfa-11077	362	8	countries	country	NOUN
ajfa-11077	362	9	shows	show	VERB
ajfa-11077	362	10	that	that	SCONJ
ajfa-11077	362	11	the	the	DET
ajfa-11077	362	12	currencies	currency	NOUN
ajfa-11077	362	13	flow	flow	VERB
ajfa-11077	362	14	across	across	ADP
ajfa-11077	362	15	countries	country	NOUN
ajfa-11077	362	16	and	and	CCONJ
ajfa-11077	362	17	international	international	ADJ
ajfa-11077	362	18	hot	hot	ADJ
ajfa-11077	362	19	money	money	NOUN
ajfa-11077	362	20	have	have	AUX
ajfa-11077	362	21	allowed	allow	VERB
ajfa-11077	362	22	changes	change	NOUN
ajfa-11077	362	23	in	in	ADP
ajfa-11077	362	24	exchange	exchange	NOUN
ajfa-11077	362	25	rates	rate	NOUN
ajfa-11077	362	26	.	.	PUNCT
ajfa-11077	363	1	under	under	ADP
ajfa-11077	363	2	these	these	DET
ajfa-11077	363	3	actions	action	NOUN
ajfa-11077	363	4	of	of	ADP
ajfa-11077	363	5	monetary	monetary	ADJ
ajfa-11077	363	6	policies	policy	NOUN
ajfa-11077	363	7	,	,	PUNCT
ajfa-11077	363	8	enterprises	enterprise	NOUN
ajfa-11077	363	9	in	in	ADP
ajfa-11077	363	10	taiwan	taiwan	PROPN
ajfa-11077	363	11	need	need	VERB
ajfa-11077	363	12	to	to	PART
ajfa-11077	363	13	actively	actively	ADV
ajfa-11077	363	14	adopt	adopt	VERB
ajfa-11077	363	15	configuration	configuration	NOUN
ajfa-11077	363	16	to	to	PART
ajfa-11077	363	17	reduce	reduce	VERB
ajfa-11077	363	18	the	the	DET
ajfa-11077	363	19	negative	negative	ADJ
ajfa-11077	363	20	impact	impact	NOUN
ajfa-11077	363	21	.	.	PUNCT
ajfa-11077	364	1	changes	change	NOUN
ajfa-11077	364	2	in	in	ADP
ajfa-11077	364	3	the	the	DET
ajfa-11077	364	4	foreign	foreign	ADJ
ajfa-11077	364	5	exchange	exchange	NOUN
ajfa-11077	364	6	market	market	NOUN
ajfa-11077	364	7	in	in	ADP
ajfa-11077	364	8	the	the	DET
ajfa-11077	364	9	past	past	NOUN
ajfa-11077	364	10	is	be	AUX
ajfa-11077	364	11	not	not	PART
ajfa-11077	364	12	as	as	ADV
ajfa-11077	364	13	dramatic	dramatic	ADJ
ajfa-11077	364	14	as	as	ADP
ajfa-11077	364	15	in	in	ADP
ajfa-11077	364	16	today	today	NOUN
ajfa-11077	364	17	.	.	PUNCT
ajfa-11077	365	1	in	in	ADP
ajfa-11077	365	2	addition	addition	NOUN
ajfa-11077	365	3	to	to	ADP
ajfa-11077	365	4	monetary	monetary	ADJ
ajfa-11077	365	5	policies	policy	NOUN
ajfa-11077	365	6	that	that	PRON
ajfa-11077	365	7	attract	attract	VERB
ajfa-11077	365	8	more	more	ADJ
ajfa-11077	365	9	investors	investor	NOUN
ajfa-11077	365	10	to	to	ADP
ajfa-11077	365	11	the	the	DET
ajfa-11077	365	12	market	market	NOUN
ajfa-11077	365	13	,	,	PUNCT
ajfa-11077	365	14	the	the	DET
ajfa-11077	365	15	investment	investment	NOUN
ajfa-11077	365	16	of	of	ADP
ajfa-11077	365	17	foreign	foreign	ADJ
ajfa-11077	365	18	exchange	exchange	NOUN
ajfa-11077	365	19	market	market	NOUN
ajfa-11077	365	20	as	as	ADV
ajfa-11077	365	21	well	well	ADV
ajfa-11077	365	22	significantly	significantly	ADV
ajfa-11077	365	23	affect	affect	VERB
ajfa-11077	365	24	the	the	DET
ajfa-11077	365	25	change	change	NOUN
ajfa-11077	365	26	in	in	ADP
ajfa-11077	365	27	exchange	exchange	NOUN
ajfa-11077	365	28	rates	rate	NOUN
ajfa-11077	365	29	among	among	ADP
ajfa-11077	365	30	countries	country	NOUN
ajfa-11077	365	31	.	.	PUNCT
ajfa-11077	366	1	therefore	therefore	ADV
ajfa-11077	366	2	,	,	PUNCT
ajfa-11077	366	3	a	a	DET
ajfa-11077	366	4	positive	positive	ADJ
ajfa-11077	366	5	formal	formal	ADJ
ajfa-11077	366	6	foreign	foreign	ADJ
ajfa-11077	366	7	exchange	exchange	NOUN
ajfa-11077	366	8	risk	risk	NOUN
ajfa-11077	366	9	management	management	NOUN
ajfa-11077	366	10	will	will	AUX
ajfa-11077	366	11	better	well	ADV
ajfa-11077	366	12	help	help	VERB
ajfa-11077	366	13	for	for	ADP
ajfa-11077	366	14	future	future	ADJ
ajfa-11077	366	15	operation	operation	NOUN
ajfa-11077	366	16	,	,	PUNCT
ajfa-11077	366	17	which	which	PRON
ajfa-11077	366	18	can	can	AUX
ajfa-11077	366	19	significantly	significantly	ADV
ajfa-11077	366	20	reduce	reduce	VERB
ajfa-11077	366	21	the	the	DET
ajfa-11077	366	22	risk	risk	NOUN
ajfa-11077	366	23	of	of	ADP
ajfa-11077	366	24	foreign	foreign	ADJ
ajfa-11077	366	25	exchange	exchange	NOUN
ajfa-11077	366	26	movements	movement	NOUN
ajfa-11077	366	27	.	.	PUNCT
ajfa-11077	367	1	this	this	DET
ajfa-11077	367	2	study	study	NOUN
ajfa-11077	367	3	found	find	VERB
ajfa-11077	367	4	that	that	SCONJ
ajfa-11077	367	5	hotels	hotel	NOUN
ajfa-11077	367	6	in	in	ADP
ajfa-11077	367	7	taiwan	taiwan	PROPN
ajfa-11077	367	8	,	,	PUNCT
ajfa-11077	367	9	accounting	account	VERB
ajfa-11077	367	10	for	for	ADP
ajfa-11077	367	11	the	the	DET
ajfa-11077	367	12	largest	large	ADJ
ajfa-11077	367	13	part	part	NOUN
ajfa-11077	367	14	of	of	ADP
ajfa-11077	367	15	the	the	DET
ajfa-11077	367	16	tourism	tourism	NOUN
ajfa-11077	367	17	industry	industry	NOUN
ajfa-11077	367	18	,	,	PUNCT
ajfa-11077	367	19	are	be	AUX
ajfa-11077	367	20	subject	subject	ADJ
ajfa-11077	367	21	to	to	PART
ajfa-11077	367	22	have	have	VERB
ajfa-11077	367	23	the	the	DET
ajfa-11077	367	24	impacts	impact	NOUN
ajfa-11077	367	25	on	on	ADP
ajfa-11077	367	26	their	their	PRON
ajfa-11077	367	27	performance	performance	NOUN
ajfa-11077	367	28	and	and	CCONJ
ajfa-11077	367	29	profitability	profitability	NOUN
ajfa-11077	367	30	due	due	ADP
ajfa-11077	367	31	to	to	ADP
ajfa-11077	367	32	the	the	DET
ajfa-11077	367	33	exchange	exchange	NOUN
ajfa-11077	367	34	rate	rate	NOUN
ajfa-11077	367	35	fluctuations	fluctuation	NOUN
ajfa-11077	367	36	.	.	PUNCT
ajfa-11077	368	1	enterprises	enterprise	NOUN
ajfa-11077	368	2	may	may	AUX
ajfa-11077	368	3	apply	apply	VERB
ajfa-11077	368	4	the	the	DET
ajfa-11077	368	5	results	result	NOUN
ajfa-11077	368	6	to	to	PART
ajfa-11077	368	7	manage	manage	VERB
ajfa-11077	368	8	their	their	PRON
ajfa-11077	368	9	foreign	foreign	ADJ
ajfa-11077	368	10	exchange	exchange	NOUN
ajfa-11077	368	11	risk	risk	NOUN
ajfa-11077	368	12	exposure	exposure	NOUN
ajfa-11077	368	13	,	,	PUNCT
ajfa-11077	368	14	and	and	CCONJ
ajfa-11077	368	15	then	then	ADV
ajfa-11077	368	16	increase	increase	VERB
ajfa-11077	368	17	the	the	DET
ajfa-11077	368	18	overall	overall	ADJ
ajfa-11077	368	19	capabilities	capability	NOUN
ajfa-11077	368	20	and	and	CCONJ
ajfa-11077	368	21	range	range	NOUN
ajfa-11077	368	22	of	of	ADP
ajfa-11077	368	23	enterprise	enterprise	NOUN
ajfa-11077	368	24	risk	risk	NOUN
ajfa-11077	368	25	management	management	NOUN
ajfa-11077	368	26	(	(	PUNCT
ajfa-11077	368	27	erm).by	erm).by	PROPN
ajfa-11077	368	28	doing	do	VERB
ajfa-11077	368	29	so	so	ADV
ajfa-11077	368	30	,	,	PUNCT
ajfa-11077	368	31	companies	company	NOUN
ajfa-11077	368	32	can	can	AUX
ajfa-11077	368	33	increase	increase	VERB
ajfa-11077	368	34	their	their	PRON
ajfa-11077	368	35	profits	profit	NOUN
ajfa-11077	368	36	and	and	CCONJ
ajfa-11077	368	37	reduce	reduce	VERB
ajfa-11077	368	38	the	the	DET
ajfa-11077	368	39	negative	negative	ADJ
ajfa-11077	368	40	impacts	impact	NOUN
ajfa-11077	368	41	of	of	ADP
ajfa-11077	368	42	exchange	exchange	NOUN
ajfa-11077	368	43	rate	rate	NOUN
ajfa-11077	368	44	changes	change	NOUN
ajfa-11077	368	45	on	on	ADP
ajfa-11077	368	46	corporate	corporate	ADJ
ajfa-11077	368	47	roe	roe	NOUN
ajfa-11077	368	48	/	/	SYM
ajfa-11077	368	49	roa	roa	PROPN
ajfa-11077	368	50	through	through	ADP
ajfa-11077	368	51	foreign	foreign	ADJ
ajfa-11077	368	52	exchange	exchange	NOUN
ajfa-11077	368	53	operations	operation	NOUN
ajfa-11077	368	54	.	.	PUNCT
ajfa-11077	369	1	more	more	ADV
ajfa-11077	369	2	importantly	importantly	ADV
ajfa-11077	369	3	,	,	PUNCT
ajfa-11077	369	4	foreign	foreign	ADJ
ajfa-11077	369	5	exchange	exchange	NOUN
ajfa-11077	369	6	allocation	allocation	NOUN
ajfa-11077	369	7	can	can	AUX
ajfa-11077	369	8	be	be	AUX
ajfa-11077	369	9	a	a	DET
ajfa-11077	369	10	strategy	strategy	NOUN
ajfa-11077	369	11	to	to	PART
ajfa-11077	369	12	reduce	reduce	VERB
ajfa-11077	369	13	the	the	DET
ajfa-11077	369	14	risk	risk	NOUN
ajfa-11077	369	15	of	of	ADP
ajfa-11077	369	16	foreign	foreign	ADJ
ajfa-11077	369	17	exchange	exchange	NOUN
ajfa-11077	369	18	exposure	exposure	NOUN
ajfa-11077	369	19	.	.	PUNCT
ajfa-11077	370	1	references	reference	NOUN
ajfa-11077	370	2	addae	addae	VERB
ajfa-11077	370	3	a.	a.	NOUN
ajfa-11077	370	4	a.	a.	PROPN
ajfa-11077	370	5	,	,	PUNCT
ajfa-11077	370	6	m.	m.	NOUN
ajfa-11077	370	7	nyark	nyark	NOUN
ajfa-11077	370	8	-	-	PUNCT
ajfa-11077	370	9	baasi	baasi	NOUN
ajfa-11077	370	10	,	,	PUNCT
ajfa-11077	370	11	&	&	CCONJ
ajfa-11077	370	12	m.	m.	PROPN
ajfa-11077	370	13	tetteh	tetteh	PROPN
ajfa-11077	370	14	.	.	PUNCT
ajfa-11077	371	1	(	(	PUNCT
ajfa-11077	371	2	2014	2014	NUM
ajfa-11077	371	3	)	)	PUNCT
ajfa-11077	371	4	.	.	PUNCT
ajfa-11077	372	1	effect	effect	NOUN
ajfa-11077	372	2	of	of	ADP
ajfa-11077	372	3	exchange	exchange	NOUN
ajfa-11077	372	4	rate	rate	NOUN
ajfa-11077	372	5	movements	movement	NOUN
ajfa-11077	372	6	on	on	ADP
ajfa-11077	372	7	ghanaian	ghanaian	ADJ
ajfa-11077	372	8	banks	bank	NOUN
ajfa-11077	372	9	.	.	PUNCT
ajfa-11077	373	1	journal	journal	PROPN
ajfa-11077	373	2	of	of	ADP
ajfa-11077	373	3	finance	finance	NOUN
ajfa-11077	373	4	and	and	CCONJ
ajfa-11077	373	5	accounting	accounting	NOUN
ajfa-11077	373	6	,	,	PUNCT
ajfa-11077	373	7	2(3	2(3	NUM
ajfa-11077	373	8	)	)	PUNCT
ajfa-11077	373	9	,	,	PUNCT
ajfa-11077	373	10	62	62	NUM
ajfa-11077	373	11	-	-	SYM
ajfa-11077	373	12	71	71	NUM
ajfa-11077	373	13	.	.	PUNCT
ajfa-11077	373	14	https://doi.org/10.11648/j.jfa.20140203.15.s	https://doi.org/10.11648/j.jfa.20140203.15.s	NOUN
ajfa-11077	373	15	adler	adler	PROPN
ajfa-11077	373	16	,	,	PUNCT
ajfa-11077	373	17	m.	m.	NOUN
ajfa-11077	373	18	,	,	PUNCT
ajfa-11077	373	19	&	&	CCONJ
ajfa-11077	373	20	b.	b.	PROPN
ajfa-11077	373	21	,	,	PUNCT
ajfa-11077	373	22	dumas	dumas	PROPN
ajfa-11077	373	23	.	.	PUNCT
ajfa-11077	374	1	(	(	PUNCT
ajfa-11077	374	2	1980	1980	NUM
ajfa-11077	374	3	)	)	PUNCT
ajfa-11077	374	4	.	.	PUNCT
ajfa-11077	375	1	the	the	DET
ajfa-11077	375	2	exposure	exposure	NOUN
ajfa-11077	375	3	of	of	ADP
ajfa-11077	375	4	long	long	ADJ
ajfa-11077	375	5	-	-	PUNCT
ajfa-11077	375	6	term	term	NOUN
ajfa-11077	375	7	foreign	foreign	ADJ
ajfa-11077	375	8	currency	currency	NOUN
ajfa-11077	375	9	bonds	bond	NOUN
ajfa-11077	375	10	.	.	PUNCT
ajfa-11077	376	1	journal	journal	NOUN
ajfa-11077	376	2	of	of	ADP
ajfa-11077	376	3	financial	financial	ADJ
ajfa-11077	376	4	and	and	CCONJ
ajfa-11077	376	5	quantitative	quantitative	ADJ
ajfa-11077	376	6	analysis	analysis	NOUN
ajfa-11077	376	7	,	,	PUNCT
ajfa-11077	376	8	15(4	15(4	NUM
ajfa-11077	376	9	)	)	PUNCT
ajfa-11077	376	10	,	,	PUNCT
ajfa-11077	376	11	973	973	NUM
ajfa-11077	376	12	-	-	SYM
ajfa-11077	376	13	995	995	NUM
ajfa-11077	376	14	.	.	PUNCT
ajfa-11077	377	1	https://doi.org/10.2307/2330573	https://doi.org/10.2307/2330573	NOUN
ajfa-11077	377	2	.	.	PUNCT
ajfa-11077	378	1	adler	adler	PROPN
ajfa-11077	378	2	,	,	PUNCT
ajfa-11077	378	3	m.	m.	NOUN
ajfa-11077	378	4	,	,	PUNCT
ajfa-11077	378	5	&	&	CCONJ
ajfa-11077	378	6	b.	b.	PROPN
ajfa-11077	378	7	,	,	PUNCT
ajfa-11077	378	8	dumas	dumas	PROPN
ajfa-11077	378	9	.	.	PUNCT
ajfa-11077	378	10	(	(	PUNCT
ajfa-11077	378	11	1984	1984	NUM
ajfa-11077	378	12	)	)	PUNCT
ajfa-11077	378	13	.	.	PUNCT
ajfa-11077	379	1	exposure	exposure	NOUN
ajfa-11077	379	2	to	to	ADP
ajfa-11077	379	3	currency	currency	NOUN
ajfa-11077	379	4	risks	risk	NOUN
ajfa-11077	379	5	:	:	PUNCT
ajfa-11077	379	6	definition	definition	NOUN
ajfa-11077	379	7	andmeasurement	andmeasurement	NOUN
ajfa-11077	379	8	.	.	PUNCT
ajfa-11077	380	1	financial	financial	ADJ
ajfa-11077	380	2	management	management	NOUN
ajfa-11077	380	3	,	,	PUNCT
ajfa-11077	380	4	13(2	13(2	PROPN
ajfa-11077	380	5	)	)	PUNCT
ajfa-11077	380	6	,	,	PUNCT
ajfa-11077	380	7	41	41	NUM
ajfa-11077	380	8	-	-	SYM
ajfa-11077	380	9	50	50	NUM
ajfa-11077	380	10	.	.	PUNCT
ajfa-11077	381	1	https://doi.org/10.2307/3665446	https://doi.org/10.2307/3665446	NOUN
ajfa-11077	381	2	.	.	PROPN
ajfa-11077	381	3	aggarwal	aggarwal	PROPN
ajfa-11077	381	4	,	,	PUNCT
ajfa-11077	381	5	r.	r.	PROPN
ajfa-11077	381	6	,	,	PUNCT
ajfa-11077	381	7	&	&	CCONJ
ajfa-11077	381	8	j.	j.	PROPN
ajfa-11077	381	9	t.	t.	PROPN
ajfa-11077	381	10	harper	harper	PROPN
ajfa-11077	381	11	.	.	PUNCT
ajfa-11077	382	1	(	(	PUNCT
ajfa-11077	382	2	2010	2010	NUM
ajfa-11077	382	3	)	)	PUNCT
ajfa-11077	382	4	.	.	PUNCT
ajfa-11077	383	1	foreign	foreign	ADJ
ajfa-11077	383	2	exchange	exchange	NOUN
ajfa-11077	383	3	exposure	exposure	NOUN
ajfa-11077	383	4	of	of	ADP
ajfa-11077	383	5	“	"	PUNCT
ajfa-11077	383	6	domestic	domestic	ADJ
ajfa-11077	383	7	”	"	PUNCT
ajfa-11077	383	8	corporations	corporation	NOUN
ajfa-11077	383	9	.	.	PUNCT
ajfa-11077	384	1	journal	journal	PROPN
ajfa-11077	384	2	of	of	ADP
ajfa-11077	384	3	international	international	ADJ
ajfa-11077	384	4	money	money	NOUN
ajfa-11077	384	5	and	and	CCONJ
ajfa-11077	384	6	finance	finance	NOUN
ajfa-11077	384	7	,	,	PUNCT
ajfa-11077	384	8	29(8	29(8	NUM
ajfa-11077	384	9	)	)	PUNCT
ajfa-11077	384	10	,	,	PUNCT
ajfa-11077	384	11	1619	1619	NUM
ajfa-11077	384	12	-	-	SYM
ajfa-11077	384	13	1636	1636	NUM
ajfa-11077	384	14	.	.	PUNCT
ajfa-11077	385	1	https://doi.org/10.1016/j.jimonfin.2010.05.003	https://doi.org/10.1016/j.jimonfin.2010.05.003	PROPN
ajfa-11077	385	2	.	.	NOUN
ajfa-11077	385	3	asian	asian	PROPN
ajfa-11077	385	4	journal	journal	PROPN
ajfa-11077	385	5	of	of	ADP
ajfa-11077	385	6	finance	finance	PROPN
ajfa-11077	385	7	&	&	CCONJ
ajfa-11077	385	8	accounting	accounting	PROPN
ajfa-11077	385	9	issn	issn	PROPN
ajfa-11077	385	10	1946	1946	NUM
ajfa-11077	385	11	-	-	PUNCT
ajfa-11077	385	12	052x	052x	PROPN
ajfa-11077	385	13	2017	2017	NUM
ajfa-11077	385	14	,	,	PUNCT
ajfa-11077	385	15	vol	vol	NOUN
ajfa-11077	385	16	.	.	NOUN
ajfa-11077	385	17	9	9	NUM
ajfa-11077	385	18	,	,	PUNCT
ajfa-11077	385	19	no	no	INTJ
ajfa-11077	385	20	.	.	NOUN
ajfa-11077	385	21	1	1	NUM
ajfa-11077	385	22	ajfa.macrothink.org	ajfa.macrothink.org	PROPN
ajfa-11077	385	23	306	306	NUM
ajfa-11077	385	24	anderson	anderson	PROPN
ajfa-11077	385	25	,	,	PUNCT
ajfa-11077	385	26	t.	t.	PROPN
ajfa-11077	385	27	d.	d.	PROPN
ajfa-11077	385	28	,	,	PUNCT
ajfa-11077	385	29	&	&	CCONJ
ajfa-11077	385	30	d.	d.	PROPN
ajfa-11077	385	31	getz	getz	PROPN
ajfa-11077	385	32	,	,	PUNCT
ajfa-11077	385	33	(	(	PUNCT
ajfa-11077	385	34	2009	2009	NUM
ajfa-11077	385	35	)	)	PUNCT
ajfa-11077	385	36	.	.	PUNCT
ajfa-11077	386	1	tourism	tourism	NOUN
ajfa-11077	386	2	as	as	ADP
ajfa-11077	386	3	a	a	DET
ajfa-11077	386	4	mixed	mixed	ADJ
ajfa-11077	386	5	industry	industry	NOUN
ajfa-11077	386	6	:	:	PUNCT
ajfa-11077	386	7	differences	difference	NOUN
ajfa-11077	386	8	between	between	ADP
ajfa-11077	386	9	private	private	ADJ
ajfa-11077	386	10	,	,	PUNCT
ajfa-11077	386	11	public	public	ADJ
ajfa-11077	386	12	and	and	CCONJ
ajfa-11077	386	13	not	not	PART
ajfa-11077	386	14	-	-	PUNCT
ajfa-11077	386	15	for	for	ADP
ajfa-11077	386	16	-	-	PUNCT
ajfa-11077	386	17	profit	profit	NOUN
ajfa-11077	386	18	festivals	festival	NOUN
ajfa-11077	386	19	.	.	PUNCT
ajfa-11077	387	1	tourism	tourism	NOUN
ajfa-11077	387	2	management	management	NOUN
ajfa-11077	387	3	,	,	PUNCT
ajfa-11077	387	4	30(6	30(6	NUM
ajfa-11077	387	5	)	)	PUNCT
ajfa-11077	387	6	,	,	PUNCT
ajfa-11077	387	7	847	847	NUM
ajfa-11077	387	8	-	-	SYM
ajfa-11077	387	9	856	856	NUM
ajfa-11077	387	10	.	.	PUNCT
ajfa-11077	388	1	https://doi.org/10.1016/j.tourman.2008.12.008	https://doi.org/10.1016/j.tourman.2008.12.008	NOUN
ajfa-11077	388	2	.	.	PUNCT
ajfa-11077	388	3	bailey	bailey	PROPN
ajfa-11077	388	4	,	,	PUNCT
ajfa-11077	388	5	w.	w.	PROPN
ajfa-11077	388	6	,	,	PUNCT
ajfa-11077	388	7	e.	e.	PROPN
ajfa-11077	388	8	ng	ng	PROPN
ajfa-11077	388	9	,	,	PUNCT
ajfa-11077	388	10	&	&	CCONJ
ajfa-11077	388	11	r.	r.	PROPN
ajfa-11077	388	12	m.	m.	PROPN
ajfa-11077	388	13	stulz	stulz	PROPN
ajfa-11077	388	14	,	,	PUNCT
ajfa-11077	388	15	(	(	PUNCT
ajfa-11077	388	16	1992	1992	NUM
ajfa-11077	388	17	)	)	PUNCT
ajfa-11077	388	18	.	.	PUNCT
ajfa-11077	389	1	optimal	optimal	ADJ
ajfa-11077	389	2	hedging	hedging	NOUN
ajfa-11077	389	3	of	of	ADP
ajfa-11077	389	4	stock	stock	NOUN
ajfa-11077	389	5	portfolios	portfolio	NOUN
ajfa-11077	389	6	against	against	ADP
ajfa-11077	389	7	foreign	foreign	ADJ
ajfa-11077	389	8	exchange	exchange	NOUN
ajfa-11077	389	9	risk	risk	NOUN
ajfa-11077	389	10	:	:	PUNCT
ajfa-11077	389	11	theory	theory	NOUN
ajfa-11077	389	12	and	and	CCONJ
ajfa-11077	389	13	applications	application	NOUN
ajfa-11077	389	14	.	.	PUNCT
ajfa-11077	390	1	global	global	ADJ
ajfa-11077	390	2	finance	finance	PROPN
ajfa-11077	390	3	journal	journal	NOUN
ajfa-11077	390	4	,	,	PUNCT
ajfa-11077	390	5	3(2	3(2	NUM
ajfa-11077	390	6	)	)	PUNCT
ajfa-11077	390	7	,	,	PUNCT
ajfa-11077	390	8	pp.97	pp.97	NOUN
ajfa-11077	390	9	-	-	PUNCT
ajfa-11077	390	10	113	113	NUM
ajfa-11077	390	11	.	.	PUNCT
ajfa-11077	391	1	https://doi.org/10.1016/1044-0283(92)90007-8	https://doi.org/10.1016/1044-0283(92)90007-8	PROPN
ajfa-11077	391	2	.	.	PROPN
ajfa-11077	391	3	bartram	bartram	PROPN
ajfa-11077	391	4	,	,	PUNCT
ajfa-11077	391	5	s.	s.	PROPN
ajfa-11077	391	6	m.	m.	PROPN
ajfa-11077	391	7	(	(	PUNCT
ajfa-11077	391	8	2008	2008	NUM
ajfa-11077	391	9	)	)	PUNCT
ajfa-11077	391	10	.	.	PUNCT
ajfa-11077	392	1	what	what	PRON
ajfa-11077	392	2	lies	lie	VERB
ajfa-11077	392	3	beneath	beneath	ADP
ajfa-11077	392	4	:	:	PUNCT
ajfa-11077	392	5	foreign	foreign	ADJ
ajfa-11077	392	6	exchange	exchange	NOUN
ajfa-11077	392	7	rate	rate	NOUN
ajfa-11077	392	8	exposure	exposure	NOUN
ajfa-11077	392	9	,	,	PUNCT
ajfa-11077	392	10	hedging	hedging	NOUN
ajfa-11077	392	11	and	and	CCONJ
ajfa-11077	392	12	cash	cash	NOUN
ajfa-11077	392	13	flows	flow	NOUN
ajfa-11077	392	14	.	.	PUNCT
ajfa-11077	393	1	journal	journal	NOUN
ajfa-11077	393	2	of	of	ADP
ajfa-11077	393	3	banking	banking	NOUN
ajfa-11077	393	4	&	&	CCONJ
ajfa-11077	393	5	finance	finance	NOUN
ajfa-11077	393	6	,	,	PUNCT
ajfa-11077	393	7	32(8	32(8	NUM
ajfa-11077	393	8	)	)	PUNCT
ajfa-11077	393	9	,	,	PUNCT
ajfa-11077	393	10	1508	1508	NUM
ajfa-11077	393	11	-	-	SYM
ajfa-11077	393	12	1521	1521	NUM
ajfa-11077	393	13	.	.	PUNCT
ajfa-11077	394	1	https://doi.org/10.1016/j.jbankfin.2007.07.013	https://doi.org/10.1016/j.jbankfin.2007.07.013	PROPN
ajfa-11077	394	2	.	.	PUNCT
ajfa-11077	394	3	bodie	bodie	PROPN
ajfa-11077	394	4	z.	z.	PROPN
ajfa-11077	394	5	,	,	PUNCT
ajfa-11077	394	6	a.	a.	PROPN
ajfa-11077	394	7	kane	kane	PROPN
ajfa-11077	394	8	,	,	PUNCT
ajfa-11077	394	9	&	&	CCONJ
ajfa-11077	394	10	a.	a.	PROPN
ajfa-11077	394	11	marcus	marcus	PROPN
ajfa-11077	394	12	,	,	PUNCT
ajfa-11077	394	13	(	(	PUNCT
ajfa-11077	394	14	2002	2002	NUM
ajfa-11077	394	15	)	)	PUNCT
ajfa-11077	394	16	.	.	PUNCT
ajfa-11077	395	1	investment	investment	NOUN
ajfa-11077	395	2	.	.	PUNCT
ajfa-11077	396	1	mcgraw	mcgraw	PROPN
ajfa-11077	396	2	hill	hill	PROPN
ajfa-11077	396	3	,	,	PUNCT
ajfa-11077	396	4	new	new	PROPN
ajfa-11077	396	5	york	york	PROPN
ajfa-11077	396	6	.	.	PUNCT
ajfa-11077	397	1	isbn-13	isbn-13	PROPN
ajfa-11077	397	2	:	:	PUNCT
ajfa-11077	397	3	978	978	NUM
ajfa-11077	397	4	-	-	SYM
ajfa-11077	397	5	0073530703	0073530703	NUM
ajfa-11077	397	6	.	.	PUNCT
ajfa-11077	398	1	bodnar	bodnar	PROPN
ajfa-11077	398	2	,	,	PUNCT
ajfa-11077	398	3	g.	g.	PROPN
ajfa-11077	398	4	m.	m.	PROPN
ajfa-11077	398	5	,	,	PUNCT
ajfa-11077	398	6	&	&	CCONJ
ajfa-11077	398	7	w.	w.	PROPN
ajfa-11077	398	8	m.	m.	PROPN
ajfa-11077	398	9	,	,	PUNCT
ajfa-11077	398	10	gentry	gentry	NOUN
ajfa-11077	398	11	,	,	PUNCT
ajfa-11077	398	12	(	(	PUNCT
ajfa-11077	398	13	1993	1993	NUM
ajfa-11077	398	14	)	)	PUNCT
ajfa-11077	398	15	.	.	PUNCT
ajfa-11077	399	1	exchange	exchange	NOUN
ajfa-11077	399	2	rate	rate	NOUN
ajfa-11077	399	3	exposure	exposure	NOUN
ajfa-11077	399	4	and	and	CCONJ
ajfa-11077	399	5	industry	industry	NOUN
ajfa-11077	399	6	characteristics	characteristic	NOUN
ajfa-11077	399	7	:	:	PUNCT
ajfa-11077	399	8	evidence	evidence	NOUN
ajfa-11077	399	9	from	from	ADP
ajfa-11077	399	10	canada	canada	PROPN
ajfa-11077	399	11	,	,	PUNCT
ajfa-11077	399	12	japan	japan	PROPN
ajfa-11077	399	13	,	,	PUNCT
ajfa-11077	399	14	and	and	CCONJ
ajfa-11077	399	15	the	the	DET
ajfa-11077	399	16	usa	usa	PROPN
ajfa-11077	399	17	.	.	PROPN
ajfa-11077	399	18	journal	journal	PROPN
ajfa-11077	399	19	of	of	ADP
ajfa-11077	399	20	international	international	ADJ
ajfa-11077	399	21	money	money	NOUN
ajfa-11077	399	22	and	and	CCONJ
ajfa-11077	399	23	finance	finance	NOUN
ajfa-11077	399	24	,	,	PUNCT
ajfa-11077	399	25	12(1	12(1	NUM
ajfa-11077	399	26	)	)	PUNCT
ajfa-11077	399	27	,	,	PUNCT
ajfa-11077	399	28	29	29	NUM
ajfa-11077	399	29	-	-	SYM
ajfa-11077	399	30	45	45	NUM
ajfa-11077	399	31	.	.	PUNCT
ajfa-11077	400	1	10.1016/0261	10.1016/0261	NUM
ajfa-11077	400	2	-	-	PUNCT
ajfa-11077	400	3	5606(93)90008	5606(93)90008	NUM
ajfa-11077	400	4	-	-	PUNCT
ajfa-11077	400	5	y.	y.	NOUN
ajfa-11077	400	6	candela	candela	PROPN
ajfa-11077	400	7	g.	g.	PROPN
ajfa-11077	400	8	,	,	PUNCT
ajfa-11077	400	9	&	&	CCONJ
ajfa-11077	400	10	p.	p.	PROPN
ajfa-11077	400	11	figini	figini	PROPN
ajfa-11077	400	12	,	,	PUNCT
ajfa-11077	400	13	(	(	PUNCT
ajfa-11077	400	14	2012	2012	NUM
ajfa-11077	400	15	)	)	PUNCT
ajfa-11077	400	16	.	.	PUNCT
ajfa-11077	401	1	the	the	DET
ajfa-11077	401	2	economics	economic	NOUN
ajfa-11077	401	3	of	of	ADP
ajfa-11077	401	4	tourism	tourism	NOUN
ajfa-11077	401	5	destinations	destination	NOUN
ajfa-11077	401	6	.	.	PUNCT
ajfa-11077	402	1	springer	springer	NOUN
ajfa-11077	402	2	texts	text	NOUN
ajfa-11077	402	3	in	in	ADP
ajfa-11077	402	4	business	business	NOUN
ajfa-11077	402	5	and	and	CCONJ
ajfa-11077	402	6	economics	economic	NOUN
ajfa-11077	402	7	.	.	PUNCT
ajfa-11077	403	1	mcgraw	mcgraw	PROPN
ajfa-11077	403	2	-	-	PUNCT
ajfa-11077	403	3	hill	hill	PROPN
ajfa-11077	403	4	companies	companies	PROPN
ajfa-11077	403	5	inc	inc	PROPN
ajfa-11077	403	6	.	.	PROPN
ajfa-11077	403	7	,	,	PUNCT
ajfa-11077	403	8	heidelberg	heidelberg	PROPN
ajfa-11077	403	9	.	.	PUNCT
ajfa-11077	404	1	isbn	isbn	ADJ
ajfa-11077	404	2	:	:	PUNCT
ajfa-11077	404	3	978	978	NUM
ajfa-11077	404	4	-	-	SYM
ajfa-11077	404	5	3	3	NUM
ajfa-11077	404	6	-	-	PUNCT
ajfa-11077	404	7	642	642	NUM
ajfa-11077	404	8	-	-	PUNCT
ajfa-11077	404	9	20874	20874	NUM
ajfa-11077	404	10	-	-	SYM
ajfa-11077	404	11	4	4	NUM
ajfa-11077	404	12	.	.	PUNCT
ajfa-11077	405	1	campbell	campbell	PROPN
ajfa-11077	405	2	,	,	PUNCT
ajfa-11077	405	3	j.	j.	PROPN
ajfa-11077	405	4	y.	y.	PROPN
ajfa-11077	405	5	,	,	PUNCT
ajfa-11077	405	6	k.	k.	PROPN
ajfa-11077	405	7	s.	s.	PROPN
ajfa-11077	405	8	,	,	PUNCT
ajfa-11077	405	9	medeiros	medeiros	PROPN
ajfa-11077	405	10	,	,	PUNCT
ajfa-11077	405	11	&	&	CCONJ
ajfa-11077	405	12	l.	l.	PROPN
ajfa-11077	405	13	m.	m.	PROPN
ajfa-11077	405	14	viceira	viceira	PROPN
ajfa-11077	405	15	.	.	PUNCT
ajfa-11077	406	1	(	(	PUNCT
ajfa-11077	406	2	2010	2010	NUM
ajfa-11077	406	3	)	)	PUNCT
ajfa-11077	406	4	.	.	PUNCT
ajfa-11077	407	1	global	global	ADJ
ajfa-11077	407	2	currency	currency	NOUN
ajfa-11077	407	3	hedging	hedging	NOUN
ajfa-11077	407	4	.	.	PUNCT
ajfa-11077	408	1	the	the	DET
ajfa-11077	408	2	journal	journal	PROPN
ajfa-11077	408	3	of	of	ADP
ajfa-11077	408	4	finance	finance	NOUN
ajfa-11077	408	5	,	,	PUNCT
ajfa-11077	408	6	65(1	65(1	NOUN
ajfa-11077	408	7	)	)	PUNCT
ajfa-11077	408	8	,	,	PUNCT
ajfa-11077	408	9	87	87	NUM
ajfa-11077	408	10	-	-	SYM
ajfa-11077	408	11	121	121	NUM
ajfa-11077	408	12	.	.	PUNCT
ajfa-11077	408	13	10.1111	10.1111	NUM
ajfa-11077	408	14	/	/	SYM
ajfa-11077	408	15	j.1540	j.1540	PROPN
ajfa-11077	408	16	-	-	PUNCT
ajfa-11077	408	17	6261.2009.01524.x	6261.2009.01524.x	NUM
ajfa-11077	408	18	.	.	PUNCT
ajfa-11077	409	1	chen	chen	PROPN
ajfa-11077	409	2	,	,	PUNCT
ajfa-11077	409	3	c.	c.	PROPN
ajfa-11077	409	4	f.	f.	PROPN
ajfa-11077	409	5	,	,	PUNCT
ajfa-11077	409	6	&	&	CCONJ
ajfa-11077	409	7	c.	c.	PROPN
ajfa-11077	409	8	w.	w.	PROPN
ajfa-11077	409	9	,	,	PUNCT
ajfa-11077	409	10	song	song	PROPN
ajfa-11077	409	11	zan	zan	PROPN
ajfa-11077	409	12	.	.	PUNCT
ajfa-11077	409	13	(	(	PUNCT
ajfa-11077	409	14	2009	2009	NUM
ajfa-11077	409	15	)	)	PUNCT
ajfa-11077	409	16	.	.	PUNCT
ajfa-11077	410	1	tourism	tourism	NOUN
ajfa-11077	410	2	expansion	expansion	NOUN
ajfa-11077	410	3	,	,	PUNCT
ajfa-11077	410	4	tourism	tourism	NOUN
ajfa-11077	410	5	uncertainty	uncertainty	NOUN
ajfa-11077	410	6	and	and	CCONJ
ajfa-11077	410	7	economic	economic	ADJ
ajfa-11077	410	8	growth	growth	NOUN
ajfa-11077	410	9	:	:	PUNCT
ajfa-11077	410	10	new	new	ADJ
ajfa-11077	410	11	evidencefrom	evidencefrom	NOUN
ajfa-11077	410	12	taiwan	taiwan	PROPN
ajfa-11077	410	13	and	and	CCONJ
ajfa-11077	410	14	korea	korea	PROPN
ajfa-11077	410	15	.	.	PUNCT
ajfa-11077	411	1	tourism	tourism	NOUN
ajfa-11077	411	2	management	management	NOUN
ajfa-11077	411	3	,	,	PUNCT
ajfa-11077	411	4	30	30	NUM
ajfa-11077	411	5	,	,	PUNCT
ajfa-11077	411	6	812–818	812–818	NUM
ajfa-11077	411	7	.	.	PUNCT
ajfa-11077	412	1	https://doi.org/10.1016/j.tourman.2008.12.013	https://doi.org/10.1016/j.tourman.2008.12.013	PROPN
ajfa-11077	412	2	.	.	PUNCT
ajfa-11077	413	1	chen	chen	PROPN
ajfa-11077	413	2	,	,	PUNCT
ajfa-11077	413	3	j.	j.	PROPN
ajfa-11077	413	4	h.	h.	PROPN
ajfa-11077	413	5	,	,	PUNCT
ajfa-11077	413	6	&	&	CCONJ
ajfa-11077	413	7	i.	i.	PROPN
ajfa-11077	413	8	h.kuo	h.kuo	PROPN
ajfa-11077	413	9	.	.	PUNCT
ajfa-11077	414	1	(	(	PUNCT
ajfa-11077	414	2	2016	2016	NUM
ajfa-11077	414	3	)	)	PUNCT
ajfa-11077	414	4	.	.	PUNCT
ajfa-11077	415	1	the	the	DET
ajfa-11077	415	2	study	study	NOUN
ajfa-11077	415	3	of	of	ADP
ajfa-11077	415	4	exchange	exchange	NOUN
ajfa-11077	415	5	rate	rate	NOUN
ajfa-11077	415	6	variability	variability	NOUN
ajfa-11077	415	7	and	and	CCONJ
ajfa-11077	415	8	pressures	pressure	NOUN
ajfa-11077	415	9	for	for	ADP
ajfa-11077	415	10	asian	asian	ADJ
ajfa-11077	415	11	currency	currency	NOUN
ajfa-11077	415	12	unit	unit	NOUN
ajfa-11077	415	13	.	.	PUNCT
ajfa-11077	416	1	asia	asia	PROPN
ajfa-11077	416	2	pacific	pacific	PROPN
ajfa-11077	416	3	management	management	PROPN
ajfa-11077	416	4	review	review	PROPN
ajfa-11077	416	5	,	,	PUNCT
ajfa-11077	416	6	21(3	21(3	NUM
ajfa-11077	416	7	)	)	PUNCT
ajfa-11077	416	8	,	,	PUNCT
ajfa-11077	416	9	135	135	NUM
ajfa-11077	416	10	-	-	SYM
ajfa-11077	416	11	141	141	NUM
ajfa-11077	416	12	.	.	PUNCT
ajfa-11077	417	1	https://doi.org/10.1016/j.apmrv.2016.01.003	https://doi.org/10.1016/j.apmrv.2016.01.003	NOUN
ajfa-11077	417	2	.	.	PUNCT
ajfa-11077	418	1	chen	chen	PROPN
ajfa-11077	418	2	,	,	PUNCT
ajfa-11077	418	3	m.h	m.h	PROPN
ajfa-11077	418	4	.	.	PROPN
ajfa-11077	418	5	,	,	PUNCT
ajfa-11077	418	6	soo	soo	PROPN
ajfa-11077	418	7	cheong	cheong	PROPN
ajfa-11077	418	8	,	,	PUNCT
ajfa-11077	418	9	jang	jang	PROPN
ajfa-11077	418	10	,	,	PUNCT
ajfa-11077	418	11	&	&	CCONJ
ajfa-11077	418	12	y.j	y.j	PROPN
ajfa-11077	418	13	.	.	PROPN
ajfa-11077	418	14	,	,	PUNCT
ajfa-11077	418	15	peng	peng	PROPN
ajfa-11077	418	16	.	.	PUNCT
ajfa-11077	418	17	(	(	PUNCT
ajfa-11077	418	18	2011	2011	NUM
ajfa-11077	418	19	)	)	PUNCT
ajfa-11077	418	20	.	.	PUNCT
ajfa-11077	419	1	discovering	discover	VERB
ajfa-11077	419	2	optimal	optimal	ADJ
ajfa-11077	419	3	tourist	tourist	NOUN
ajfa-11077	419	4	market	market	NOUN
ajfa-11077	419	5	mixes	mix	NOUN
ajfa-11077	419	6	.	.	PUNCT
ajfa-11077	420	1	journal	journal	PROPN
ajfa-11077	420	2	of	of	ADP
ajfa-11077	420	3	travel	travel	NOUN
ajfa-11077	420	4	research	research	NOUN
ajfa-11077	420	5	,	,	PUNCT
ajfa-11077	420	6	50(6	50(6	NUM
ajfa-11077	420	7	)	)	PUNCT
ajfa-11077	420	8	,	,	PUNCT
ajfa-11077	420	9	602	602	NUM
ajfa-11077	420	10	-	-	SYM
ajfa-11077	420	11	614	614	NUM
ajfa-11077	420	12	.	.	PUNCT
ajfa-11077	421	1	https://doi.org/10.1177/0047287510385464	https://doi.org/10.1177/0047287510385464	ADV
ajfa-11077	421	2	.	.	PUNCT
ajfa-11077	422	1	dominguez	dominguez	PROPN
ajfa-11077	422	2	,	,	PUNCT
ajfa-11077	422	3	k.	k.	PROPN
ajfa-11077	422	4	m.	m.	PROPN
ajfa-11077	422	5	e.	e.	PROPN
ajfa-11077	422	6	,	,	PUNCT
ajfa-11077	422	7	&	&	CCONJ
ajfa-11077	422	8	l.	l.	PROPN
ajfa-11077	422	9	l.	l.	PROPN
ajfa-11077	422	10	,	,	PUNCT
ajfa-11077	422	11	tesar	tesar	PROPN
ajfa-11077	422	12	.	.	PUNCT
ajfa-11077	422	13	(	(	PUNCT
ajfa-11077	422	14	2006	2006	NUM
ajfa-11077	422	15	)	)	PUNCT
ajfa-11077	422	16	.	.	PUNCT
ajfa-11077	423	1	exchange	exchange	NOUN
ajfa-11077	423	2	rate	rate	NOUN
ajfa-11077	423	3	exposure	exposure	NOUN
ajfa-11077	423	4	.	.	PUNCT
ajfa-11077	424	1	journal	journal	NOUN
ajfa-11077	424	2	of	of	ADP
ajfa-11077	424	3	international	international	ADJ
ajfa-11077	424	4	economics	economic	NOUN
ajfa-11077	424	5	,	,	PUNCT
ajfa-11077	424	6	68(1	68(1	NOUN
ajfa-11077	424	7	)	)	PUNCT
ajfa-11077	424	8	,	,	PUNCT
ajfa-11077	424	9	188	188	NUM
ajfa-11077	424	10	-	-	SYM
ajfa-11077	424	11	218	218	NUM
ajfa-11077	424	12	.	.	PUNCT
ajfa-11077	425	1	10.1016	10.1016	NUM
ajfa-11077	425	2	/	/	SYM
ajfa-11077	425	3	j.jinteco.2005.01.002	j.jinteco.2005.01.002	PROPN
ajfa-11077	425	4	.	.	PUNCT
ajfa-11077	426	1	dumas	dumas	PROPN
ajfa-11077	426	2	,	,	PUNCT
ajfa-11077	426	3	b.	b.	PROPN
ajfa-11077	426	4	(	(	PUNCT
ajfa-11077	426	5	1978	1978	NUM
ajfa-11077	426	6	june	june	PROPN
ajfa-11077	426	7	)	)	PUNCT
ajfa-11077	426	8	.	.	PUNCT
ajfa-11077	427	1	the	the	DET
ajfa-11077	427	2	theory	theory	NOUN
ajfa-11077	427	3	of	of	ADP
ajfa-11077	427	4	the	the	DET
ajfa-11077	427	5	trading	trading	NOUN
ajfa-11077	427	6	firm	firm	NOUN
ajfa-11077	427	7	revisited	revisit	VERB
ajfa-11077	427	8	.	.	PUNCT
ajfa-11077	428	1	journal	journal	PROPN
ajfa-11077	428	2	of	of	ADP
ajfa-11077	428	3	finance	finance	NOUN
ajfa-11077	428	4	,	,	PUNCT
ajfa-11077	428	5	33(3	33(3	NOUN
ajfa-11077	428	6	)	)	PUNCT
ajfa-11077	428	7	,	,	PUNCT
ajfa-11077	428	8	1019	1019	NUM
ajfa-11077	428	9	-	-	SYM
ajfa-11077	428	10	1029	1029	NUM
ajfa-11077	428	11	.	.	PUNCT
ajfa-11077	429	1	https://doi.org/10.1111/j.1540-6261.1978.tb02041.x	https://doi.org/10.1111/j.1540-6261.1978.tb02041.x	PROPN
ajfa-11077	429	2	.	.	PUNCT
ajfa-11077	429	3	elton	elton	PROPN
ajfa-11077	429	4	,	,	PUNCT
ajfa-11077	429	5	e.	e.	PROPN
ajfa-11077	429	6	,	,	PUNCT
ajfa-11077	429	7	m.	m.	PROPN
ajfa-11077	429	8	gruber	gruber	PROPN
ajfa-11077	429	9	,	,	PUNCT
ajfa-11077	429	10	s.	s.	PROPN
ajfa-11077	429	11	brown	brown	PROPN
ajfa-11077	429	12	,	,	PUNCT
ajfa-11077	429	13	&	&	CCONJ
ajfa-11077	429	14	w.	w.	PROPN
ajfa-11077	429	15	goetzmann	goetzmann	PROPN
ajfa-11077	429	16	.	.	PUNCT
ajfa-11077	430	1	(	(	PUNCT
ajfa-11077	430	2	2007	2007	NUM
ajfa-11077	430	3	)	)	PUNCT
ajfa-11077	430	4	.	.	PUNCT
ajfa-11077	431	1	modern	modern	ADJ
ajfa-11077	431	2	portfolio	portfolio	NOUN
ajfa-11077	431	3	theory	theory	NOUN
ajfa-11077	431	4	and	and	CCONJ
ajfa-11077	431	5	investment	investment	NOUN
ajfa-11077	431	6	analysis	analysis	NOUN
ajfa-11077	431	7	.	.	PUNCT
ajfa-11077	432	1	wiley	wiley	PROPN
ajfa-11077	432	2	,	,	PUNCT
ajfa-11077	432	3	new	new	ADJ
ajfa-11077	432	4	york.isbn-13	york.isbn-13	PROPN
ajfa-11077	432	5	:	:	PUNCT
ajfa-11077	432	6	978	978	NUM
ajfa-11077	432	7	-	-	SYM
ajfa-11077	432	8	1118469941	1118469941	NUM
ajfa-11077	432	9	.	.	PUNCT
ajfa-11077	433	1	fama	fama	PROPN
ajfa-11077	433	2	,	,	PUNCT
ajfa-11077	433	3	eugene	eugene	PROPN
ajfa-11077	433	4	f.	f.	PROPN
ajfa-11077	433	5	,	,	PUNCT
ajfa-11077	433	6	&	&	CCONJ
ajfa-11077	433	7	kenneth	kenneth	PROPN
ajfa-11077	433	8	r.	r.	PROPN
ajfa-11077	433	9	french	french	PROPN
ajfa-11077	433	10	.	.	PUNCT
ajfa-11077	434	1	(	(	PUNCT
ajfa-11077	434	2	1993	1993	NUM
ajfa-11077	434	3	)	)	PUNCT
ajfa-11077	434	4	.	.	PUNCT
ajfa-11077	435	1	common	common	ADJ
ajfa-11077	435	2	risk	risk	NOUN
ajfa-11077	435	3	factors	factor	NOUN
ajfa-11077	435	4	in	in	ADP
ajfa-11077	435	5	the	the	DET
ajfa-11077	435	6	returns	return	NOUN
ajfa-11077	435	7	on	on	ADP
ajfa-11077	435	8	stocks	stock	NOUN
ajfa-11077	435	9	and	and	CCONJ
ajfa-11077	435	10	bonds	bond	NOUN
ajfa-11077	435	11	.	.	PUNCT
ajfa-11077	436	1	journal	journal	NOUN
ajfa-11077	436	2	of	of	ADP
ajfa-11077	436	3	financial	financial	ADJ
ajfa-11077	436	4	economics	economic	NOUN
ajfa-11077	436	5	,	,	PUNCT
ajfa-11077	436	6	33(1	33(1	NUM
ajfa-11077	436	7	)	)	PUNCT
ajfa-11077	436	8	,	,	PUNCT
ajfa-11077	436	9	3	3	NUM
ajfa-11077	436	10	-	-	SYM
ajfa-11077	436	11	56	56	NUM
ajfa-11077	436	12	.	.	PUNCT
ajfa-11077	437	1	https://doi.org/10.1016/0304-405x(93)90023-5	https://doi.org/10.1016/0304-405x(93)90023-5	PROPN
ajfa-11077	437	2	.	.	PROPN
ajfa-11077	437	3	asian	asian	PROPN
ajfa-11077	437	4	journal	journal	PROPN
ajfa-11077	437	5	of	of	ADP
ajfa-11077	437	6	finance	finance	PROPN
ajfa-11077	437	7	&	&	CCONJ
ajfa-11077	437	8	accounting	accounting	PROPN
ajfa-11077	437	9	issn	issn	PROPN
ajfa-11077	437	10	1946	1946	NUM
ajfa-11077	437	11	-	-	PUNCT
ajfa-11077	437	12	052x	052x	PROPN
ajfa-11077	437	13	2017	2017	NUM
ajfa-11077	437	14	,	,	PUNCT
ajfa-11077	437	15	vol	vol	NOUN
ajfa-11077	437	16	.	.	NOUN
ajfa-11077	437	17	9	9	NUM
ajfa-11077	437	18	,	,	PUNCT
ajfa-11077	437	19	no	no	INTJ
ajfa-11077	437	20	.	.	NOUN
ajfa-11077	437	21	1	1	NUM
ajfa-11077	437	22	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	437	23	307	307	NUM
ajfa-11077	437	24	fama	fama	NOUN
ajfa-11077	437	25	,	,	PUNCT
ajfa-11077	437	26	eugene	eugene	PROPN
ajfa-11077	437	27	f.	f.	PROPN
ajfa-11077	437	28	,	,	PUNCT
ajfa-11077	437	29	&	&	CCONJ
ajfa-11077	437	30	kenneth	kenneth	PROPN
ajfa-11077	437	31	r.	r.	PROPN
ajfa-11077	437	32	french	french	PROPN
ajfa-11077	437	33	.	.	PUNCT
ajfa-11077	438	1	(	(	PUNCT
ajfa-11077	438	2	1995	1995	NUM
ajfa-11077	438	3	)	)	PUNCT
ajfa-11077	438	4	.	.	PUNCT
ajfa-11077	439	1	size	size	NOUN
ajfa-11077	439	2	and	and	CCONJ
ajfa-11077	439	3	book	book	NOUN
ajfa-11077	439	4	-	-	PUNCT
ajfa-11077	439	5	to	to	ADP
ajfa-11077	439	6	-	-	PUNCT
ajfa-11077	439	7	market	market	NOUN
ajfa-11077	439	8	factors	factor	NOUN
ajfa-11077	439	9	in	in	ADP
ajfa-11077	439	10	earnings	earning	NOUN
ajfa-11077	439	11	and	and	CCONJ
ajfa-11077	439	12	returns	return	NOUN
ajfa-11077	439	13	.	.	PUNCT
ajfa-11077	440	1	the	the	DET
ajfa-11077	440	2	journal	journal	NOUN
ajfa-11077	440	3	of	of	ADP
ajfa-11077	440	4	finance	finance	NOUN
ajfa-11077	440	5	,	,	PUNCT
ajfa-11077	440	6	50(1	50(1	PROPN
ajfa-11077	440	7	)	)	PUNCT
ajfa-11077	440	8	,	,	PUNCT
ajfa-11077	440	9	131	131	NUM
ajfa-11077	440	10	-	-	SYM
ajfa-11077	440	11	155	155	NUM
ajfa-11077	440	12	.	.	PUNCT
ajfa-11077	441	1	https://doi.org/10.1111/j.1540-6261.1995.tb05169.x	https://doi.org/10.1111/j.1540-6261.1995.tb05169.x	PROPN
ajfa-11077	441	2	.	.	PUNCT
ajfa-11077	441	3	harris	harris	PROPN
ajfa-11077	441	4	,	,	PUNCT
ajfa-11077	441	5	l.	l.	PROPN
ajfa-11077	441	6	(	(	PUNCT
ajfa-11077	441	7	2003	2003	NUM
ajfa-11077	441	8	)	)	PUNCT
ajfa-11077	441	9	.	.	PUNCT
ajfa-11077	442	1	trading	trading	NOUN
ajfa-11077	442	2	and	and	CCONJ
ajfa-11077	442	3	exchanges	exchange	NOUN
ajfa-11077	442	4	:	:	PUNCT
ajfa-11077	442	5	market	market	NOUN
ajfa-11077	442	6	microstructure	microstructure	NOUN
ajfa-11077	442	7	for	for	ADP
ajfa-11077	442	8	practitioners	practitioner	NOUN
ajfa-11077	442	9	.	.	PUNCT
ajfa-11077	443	1	oxford	oxford	PROPN
ajfa-11077	443	2	university	university	PROPN
ajfa-11077	443	3	press	press	NOUN
ajfa-11077	443	4	,	,	PUNCT
ajfa-11077	443	5	inc.isbn-13	inc.isbn-13	PROPN
ajfa-11077	443	6	:	:	PUNCT
ajfa-11077	443	7	978	978	NUM
ajfa-11077	443	8	-	-	SYM
ajfa-11077	443	9	0195144703	0195144703	NUM
ajfa-11077	443	10	.	.	PUNCT
ajfa-11077	444	1	he	he	PRON
ajfa-11077	444	2	,	,	PUNCT
ajfa-11077	444	3	j.	j.	PROPN
ajfa-11077	444	4	,	,	PUNCT
ajfa-11077	444	5	&	&	CCONJ
ajfa-11077	444	6	l.	l.	PROPN
ajfa-11077	444	7	k.	k.	PROPN
ajfa-11077	444	8	,	,	PUNCT
ajfa-11077	444	9	ng	ng	PROPN
ajfa-11077	444	10	,	,	PUNCT
ajfa-11077	444	11	(	(	PUNCT
ajfa-11077	444	12	1998	1998	NUM
ajfa-11077	444	13	)	)	PUNCT
ajfa-11077	444	14	.	.	PUNCT
ajfa-11077	445	1	the	the	DET
ajfa-11077	445	2	foreign	foreign	ADJ
ajfa-11077	445	3	exchange	exchange	NOUN
ajfa-11077	445	4	exposure	exposure	NOUN
ajfa-11077	445	5	of	of	ADP
ajfa-11077	445	6	japanese	japanese	ADJ
ajfa-11077	445	7	multinational	multinational	ADJ
ajfa-11077	445	8	corporations	corporation	NOUN
ajfa-11077	445	9	.	.	PUNCT
ajfa-11077	446	1	journal	journal	PROPN
ajfa-11077	446	2	of	of	ADP
ajfa-11077	446	3	finance	finance	NOUN
ajfa-11077	446	4	,	,	PUNCT
ajfa-11077	446	5	53(2	53(2	NUM
ajfa-11077	446	6	)	)	PUNCT
ajfa-11077	446	7	,	,	PUNCT
ajfa-11077	446	8	733	733	NUM
ajfa-11077	446	9	-	-	SYM
ajfa-11077	446	10	753	753	NUM
ajfa-11077	446	11	.	.	PUNCT
ajfa-11077	447	1	https://doi.org/110.1111/0022-1082.295575	https://doi.org/110.1111/0022-1082.295575	PROPN
ajfa-11077	447	2	.	.	PUNCT
ajfa-11077	448	1	hodder	hodder	PROPN
ajfa-11077	448	2	,	,	PUNCT
ajfa-11077	448	3	j.	j.	PROPN
ajfa-11077	448	4	(	(	PUNCT
ajfa-11077	448	5	1982	1982	NUM
ajfa-11077	448	6	)	)	PUNCT
ajfa-11077	448	7	.	.	PUNCT
ajfa-11077	449	1	exposure	exposure	NOUN
ajfa-11077	449	2	to	to	PART
ajfa-11077	449	3	exchange	exchange	VERB
ajfa-11077	449	4	rate	rate	NOUN
ajfa-11077	449	5	movements	movement	NOUN
ajfa-11077	449	6	.	.	PUNCT
ajfa-11077	450	1	journal	journal	NOUN
ajfa-11077	450	2	of	of	ADP
ajfa-11077	450	3	international	international	ADJ
ajfa-11077	450	4	economics	economic	NOUN
ajfa-11077	450	5	,	,	PUNCT
ajfa-11077	450	6	13(3	13(3	NUM
ajfa-11077	450	7	-	-	SYM
ajfa-11077	450	8	4	4	NUM
ajfa-11077	450	9	)	)	PUNCT
ajfa-11077	450	10	,	,	PUNCT
ajfa-11077	450	11	375	375	NUM
ajfa-11077	450	12	-	-	SYM
ajfa-11077	450	13	386	386	NUM
ajfa-11077	450	14	.	.	PUNCT
ajfa-11077	451	1	https://doi.org/10.1016/0022-1996(82)90065-4	https://doi.org/10.1016/0022-1996(82)90065-4	PROPN
ajfa-11077	451	2	.	.	PUNCT
ajfa-11077	452	1	huang	huang	PROPN
ajfa-11077	452	2	,	,	PUNCT
ajfa-11077	452	3	c.f	c.f	PROPN
ajfa-11077	452	4	.	.	PROPN
ajfa-11077	452	5	,	,	PUNCT
ajfa-11077	452	6	&	&	CCONJ
ajfa-11077	452	7	r.	r.	PROPN
ajfa-11077	452	8	litzenberger	litzenberger	PROPN
ajfa-11077	452	9	.	.	PUNCT
ajfa-11077	453	1	(	(	PUNCT
ajfa-11077	453	2	1988	1988	NUM
ajfa-11077	453	3	)	)	PUNCT
ajfa-11077	453	4	.	.	PUNCT
ajfa-11077	454	1	foundations	foundation	NOUN
ajfa-11077	454	2	for	for	ADP
ajfa-11077	454	3	financial	financial	ADJ
ajfa-11077	454	4	economics	economic	NOUN
ajfa-11077	454	5	.	.	PUNCT
ajfa-11077	455	1	north	north	NOUN
ajfa-11077	455	2	-	-	PUNCT
ajfa-11077	455	3	holland	holland	PROPN
ajfa-11077	455	4	,	,	PUNCT
ajfa-11077	455	5	new	new	PROPN
ajfa-11077	455	6	-	-	PUNCT
ajfa-11077	455	7	york	york	NOUN
ajfa-11077	455	8	,	,	PUNCT
ajfa-11077	455	9	1988	1988	NUM
ajfa-11077	455	10	.	.	PUNCT
ajfa-11077	456	1	isbn	isbn	ADJ
ajfa-11077	456	2	:	:	PUNCT
ajfa-11077	456	3	0	0	NUM
ajfa-11077	456	4	-	-	SYM
ajfa-11077	456	5	13	13	NUM
ajfa-11077	456	6	-	-	PUNCT
ajfa-11077	456	7	500653	500653	NUM
ajfa-11077	456	8	-	-	SYM
ajfa-11077	456	9	8	8	NUM
ajfa-11077	456	10	.	.	PUNCT
ajfa-11077	457	1	hurvich	hurvich	PROPN
ajfa-11077	457	2	,	,	PUNCT
ajfa-11077	457	3	c.m	c.m	PROPN
ajfa-11077	457	4	.	.	PROPN
ajfa-11077	457	5	,	,	PUNCT
ajfa-11077	457	6	&	&	CCONJ
ajfa-11077	457	7	c.	c.	PROPN
ajfa-11077	457	8	l.	l.	PROPN
ajfa-11077	457	9	,	,	PUNCT
ajfa-11077	457	10	tsai	tsai	PROPN
ajfa-11077	457	11	,	,	PUNCT
ajfa-11077	457	12	(	(	PUNCT
ajfa-11077	457	13	1989	1989	NUM
ajfa-11077	457	14	june	june	PROPN
ajfa-11077	457	15	)	)	PUNCT
ajfa-11077	457	16	.	.	PUNCT
ajfa-11077	458	1	regression	regression	NOUN
ajfa-11077	458	2	and	and	CCONJ
ajfa-11077	458	3	time	time	NOUN
ajfa-11077	458	4	series	series	PROPN
ajfa-11077	458	5	model	model	PROPN
ajfa-11077	458	6	selection	selection	NOUN
ajfa-11077	458	7	in	in	ADP
ajfa-11077	458	8	small	small	ADJ
ajfa-11077	458	9	samples	sample	NOUN
ajfa-11077	458	10	.	.	PUNCT
ajfa-11077	459	1	biometrika	biometrika	NOUN
ajfa-11077	459	2	76(2	76(2	NUM
ajfa-11077	459	3	)	)	PUNCT
ajfa-11077	459	4	,	,	PUNCT
ajfa-11077	459	5	297	297	NUM
ajfa-11077	459	6	-	-	SYM
ajfa-11077	459	7	307	307	NUM
ajfa-11077	459	8	.	.	PUNCT
ajfa-11077	460	1	https://doi.org/10.1093/biomet/76.2.297	https://doi.org/10.1093/biomet/76.2.297	PROPN
ajfa-11077	460	2	.	.	PUNCT
ajfa-11077	460	3	huy	huy	PROPN
ajfa-11077	460	4	,	,	PUNCT
ajfa-11077	460	5	t.	t.	PROPN
ajfa-11077	460	6	q.	q.	PROPN
ajfa-11077	460	7	,	,	PUNCT
ajfa-11077	460	8	(	(	PUNCT
ajfa-11077	460	9	2016	2016	NUM
ajfa-11077	460	10	)	)	PUNCT
ajfa-11077	460	11	.	.	PUNCT
ajfa-11077	461	1	the	the	DET
ajfa-11077	461	2	linkage	linkage	NOUN
ajfa-11077	461	3	between	between	ADP
ajfa-11077	461	4	exchange	exchange	NOUN
ajfa-11077	461	5	rates	rate	NOUN
ajfa-11077	461	6	and	and	CCONJ
ajfa-11077	461	7	stock	stock	NOUN
ajfa-11077	461	8	prices	price	NOUN
ajfa-11077	461	9	:	:	PUNCT
ajfa-11077	461	10	evidence	evidence	NOUN
ajfa-11077	461	11	from	from	ADP
ajfa-11077	461	12	vietnam	vietnam	PROPN
ajfa-11077	461	13	.	.	PUNCT
ajfa-11077	462	1	asian	asian	ADJ
ajfa-11077	462	2	economic	economic	ADJ
ajfa-11077	462	3	and	and	CCONJ
ajfa-11077	462	4	financial	financial	ADJ
ajfa-11077	462	5	review	review	NOUN
ajfa-11077	462	6	,	,	PUNCT
ajfa-11077	462	7	6(7	6(7	NUM
ajfa-11077	462	8	)	)	PUNCT
ajfa-11077	462	9	,	,	PUNCT
ajfa-11077	462	10	363	363	NUM
ajfa-11077	462	11	-	-	SYM
ajfa-11077	462	12	373	373	NUM
ajfa-11077	462	13	.	.	PUNCT
ajfa-11077	463	1	https://doi.org/10.18488/journal.aefr/2016.6.7/102.7.363.373	https://doi.org/10.18488/journal.aefr/2016.6.7/102.7.363.373	NOUN
ajfa-11077	463	2	.	.	PUNCT
ajfa-11077	464	1	jahan	jahan	PROPN
ajfa-11077	464	2	,	,	PUNCT
ajfa-11077	464	3	n.	n.	PROPN
ajfa-11077	464	4	(	(	PUNCT
ajfa-11077	464	5	2016	2016	NUM
ajfa-11077	464	6	)	)	PUNCT
ajfa-11077	464	7	.	.	PUNCT
ajfa-11077	465	1	measuring	measure	VERB
ajfa-11077	465	2	efficiency	efficiency	NOUN
ajfa-11077	465	3	of	of	ADP
ajfa-11077	465	4	using	use	VERB
ajfa-11077	465	5	currency	currency	NOUN
ajfa-11077	465	6	derivatives	derivative	NOUN
ajfa-11077	465	7	to	to	PART
ajfa-11077	465	8	hedge	hedge	VERB
ajfa-11077	465	9	foreign	foreign	ADJ
ajfa-11077	465	10	exchange	exchange	NOUN
ajfa-11077	465	11	risk	risk	NOUN
ajfa-11077	465	12	:	:	PUNCT
ajfa-11077	465	13	a	a	DET
ajfa-11077	465	14	study	study	NOUN
ajfa-11077	465	15	on	on	ADP
ajfa-11077	465	16	advanced	advanced	ADJ
ajfa-11077	465	17	chemical	chemical	NOUN
ajfa-11077	465	18	industries	industry	NOUN
ajfa-11077	465	19	(	(	PUNCT
ajfa-11077	465	20	aci	aci	PROPN
ajfa-11077	465	21	)	)	PUNCT
ajfa-11077	465	22	in	in	ADP
ajfa-11077	465	23	bangladesh	bangladesh	PROPN
ajfa-11077	465	24	.	.	PUNCT
ajfa-11077	466	1	international	international	ADJ
ajfa-11077	466	2	journal	journal	PROPN
ajfa-11077	466	3	of	of	ADP
ajfa-11077	466	4	economics	economic	NOUN
ajfa-11077	466	5	,	,	PUNCT
ajfa-11077	466	6	finance	finance	NOUN
ajfa-11077	466	7	and	and	CCONJ
ajfa-11077	466	8	management	management	NOUN
ajfa-11077	466	9	sciences	science	NOUN
ajfa-11077	466	10	,	,	PUNCT
ajfa-11077	466	11	4(2	4(2	NUM
ajfa-11077	466	12	)	)	PUNCT
ajfa-11077	466	13	,	,	PUNCT
ajfa-11077	466	14	57	57	NUM
ajfa-11077	466	15	-	-	SYM
ajfa-11077	466	16	66	66	NUM
ajfa-11077	466	17	.	.	PUNCT
ajfa-11077	467	1	https://doi.org/10.11648/j.ijefm.20160402.14	https://doi.org/10.11648/j.ijefm.20160402.14	PROPN
ajfa-11077	467	2	.	.	PUNCT
ajfa-11077	468	1	jang	jang	PROPN
ajfa-11077	468	2	,	,	PUNCT
ajfa-11077	468	3	soo	soo	PROPN
ajfa-11077	468	4	cheong	cheong	PROPN
ajfa-11077	468	5	,	,	PUNCT
ajfa-11077	468	6	&	&	CCONJ
ajfa-11077	468	7	m.h	m.h	PROPN
ajfa-11077	468	8	.	.	PROPN
ajfa-11077	468	9	,	,	PUNCT
ajfa-11077	468	10	chen	chen	PROPN
ajfa-11077	468	11	.	.	PUNCT
ajfa-11077	469	1	(	(	PUNCT
ajfa-11077	469	2	2008	2008	NUM
ajfa-11077	469	3	)	)	PUNCT
ajfa-11077	469	4	.	.	PUNCT
ajfa-11077	470	1	financial	financial	ADJ
ajfa-11077	470	2	portfolio	portfolio	NOUN
ajfa-11077	470	3	approach	approach	NOUN
ajfa-11077	470	4	to	to	ADP
ajfa-11077	470	5	optimal	optimal	ADJ
ajfa-11077	470	6	tourist	tourist	NOUN
ajfa-11077	470	7	market	market	NOUN
ajfa-11077	470	8	mixes.tourism	mixes.tourism	NOUN
ajfa-11077	470	9	management	management	NOUN
ajfa-11077	470	10	,	,	PUNCT
ajfa-11077	470	11	29	29	NUM
ajfa-11077	470	12	,	,	PUNCT
ajfa-11077	470	13	761–770	761–770	NUM
ajfa-11077	470	14	.	.	PUNCT
ajfa-11077	471	1	https://doi.org/10.1016/j.tourman.2007.09.003	https://doi.org/10.1016/j.tourman.2007.09.003	ADJ
ajfa-11077	471	2	.	.	PUNCT
ajfa-11077	472	1	jorion	jorion	NOUN
ajfa-11077	472	2	,	,	PUNCT
ajfa-11077	472	3	p.	p.	NOUN
ajfa-11077	472	4	(	(	PUNCT
ajfa-11077	472	5	1990	1990	NUM
ajfa-11077	472	6	)	)	PUNCT
ajfa-11077	472	7	.	.	PUNCT
ajfa-11077	473	1	the	the	DET
ajfa-11077	473	2	exchange	exchange	NOUN
ajfa-11077	473	3	rate	rate	NOUN
ajfa-11077	473	4	exposure	exposure	NOUN
ajfa-11077	473	5	of	of	ADP
ajfa-11077	473	6	u.s	u.s	PROPN
ajfa-11077	473	7	.	.	PROPN
ajfa-11077	473	8	multinationals	multinational	NOUN
ajfa-11077	473	9	.	.	PUNCT
ajfa-11077	474	1	journal	journal	PROPN
ajfa-11077	474	2	of	of	ADP
ajfa-11077	474	3	business	business	NOUN
ajfa-11077	474	4	,	,	PUNCT
ajfa-11077	474	5	63(3	63(3	NUM
ajfa-11077	474	6	)	)	PUNCT
ajfa-11077	474	7	,	,	PUNCT
ajfa-11077	474	8	331	331	NUM
ajfa-11077	474	9	-	-	SYM
ajfa-11077	474	10	345	345	NUM
ajfa-11077	474	11	.	.	PUNCT
ajfa-11077	475	1	https://doi.org/10.1086/296510	https://doi.org/10.1086/296510	NOUN
ajfa-11077	475	2	.	.	PUNCT
ajfa-11077	475	3	jorion	jorion	NOUN
ajfa-11077	475	4	,	,	PUNCT
ajfa-11077	475	5	p.	p.	NOUN
ajfa-11077	475	6	(	(	PUNCT
ajfa-11077	475	7	1991	1991	NUM
ajfa-11077	475	8	)	)	PUNCT
ajfa-11077	475	9	.	.	PUNCT
ajfa-11077	476	1	the	the	DET
ajfa-11077	476	2	pricing	pricing	NOUN
ajfa-11077	476	3	of	of	ADP
ajfa-11077	476	4	exchange	exchange	NOUN
ajfa-11077	476	5	rate	rate	NOUN
ajfa-11077	476	6	risk	risk	NOUN
ajfa-11077	476	7	in	in	ADP
ajfa-11077	476	8	the	the	DET
ajfa-11077	476	9	stock	stock	NOUN
ajfa-11077	476	10	market	market	NOUN
ajfa-11077	476	11	.	.	PUNCT
ajfa-11077	477	1	journal	journal	NOUN
ajfa-11077	477	2	of	of	ADP
ajfa-11077	477	3	financial	financial	ADJ
ajfa-11077	477	4	and	and	CCONJ
ajfa-11077	477	5	quantitative	quantitative	ADJ
ajfa-11077	477	6	analysis	analysis	NOUN
ajfa-11077	477	7	,	,	PUNCT
ajfa-11077	477	8	26(3	26(3	NUM
ajfa-11077	477	9	)	)	PUNCT
ajfa-11077	477	10	,	,	PUNCT
ajfa-11077	477	11	363	363	NUM
ajfa-11077	477	12	-	-	SYM
ajfa-11077	477	13	376	376	NUM
ajfa-11077	477	14	.	.	PUNCT
ajfa-11077	478	1	kim	kim	PROPN
ajfa-11077	478	2	,	,	PUNCT
ajfa-11077	478	3	h.y	h.y	PROPN
ajfa-11077	478	4	.	.	PROPN
ajfa-11077	478	5	,	,	PUNCT
ajfa-11077	478	6	m.	m.	PROPN
ajfa-11077	478	7	h.	h.	PROPN
ajfa-11077	478	8	,	,	PUNCT
ajfa-11077	478	9	chen	chen	PROPN
ajfa-11077	478	10	,	,	PUNCT
ajfa-11077	478	11	&	&	CCONJ
ajfa-11077	478	12	soocheong	soocheong	PROPN
ajfa-11077	478	13	,	,	PUNCT
ajfa-11077	478	14	jang	jang	PROPN
ajfa-11077	478	15	.	.	PUNCT
ajfa-11077	478	16	(	(	PUNCT
ajfa-11077	478	17	2006	2006	NUM
ajfa-11077	478	18	)	)	PUNCT
ajfa-11077	478	19	.	.	PUNCT
ajfa-11077	479	1	tourism	tourism	NOUN
ajfa-11077	479	2	expansion	expansion	NOUN
ajfa-11077	479	3	andeconomic	andeconomic	ADJ
ajfa-11077	479	4	development	development	NOUN
ajfa-11077	479	5	:	:	PUNCT
ajfa-11077	479	6	the	the	DET
ajfa-11077	479	7	case	case	NOUN
ajfa-11077	479	8	of	of	ADP
ajfa-11077	479	9	taiwan	taiwan	PROPN
ajfa-11077	479	10	.	.	PUNCT
ajfa-11077	480	1	tourism	tourism	NOUN
ajfa-11077	480	2	management	management	NOUN
ajfa-11077	480	3	,	,	PUNCT
ajfa-11077	480	4	27(5	27(5	PROPN
ajfa-11077	480	5	)	)	PUNCT
ajfa-11077	480	6	,	,	PUNCT
ajfa-11077	480	7	925–933	925–933	NUM
ajfa-11077	480	8	.	.	PUNCT
ajfa-11077	481	1	https://doi.org/10.1016/j.tourman.2005.05.011	https://doi.org/10.1016/j.tourman.2005.05.011	NOUN
ajfa-11077	481	2	.	.	PUNCT
ajfa-11077	482	1	kim	kim	PROPN
ajfa-11077	482	2	,	,	PUNCT
ajfa-11077	482	3	y.	y.	PROPN
ajfa-11077	482	4	y.	y.	PROPN
ajfa-11077	482	5	(	(	PUNCT
ajfa-11077	482	6	2012	2012	NUM
ajfa-11077	482	7	)	)	PUNCT
ajfa-11077	482	8	.	.	PUNCT
ajfa-11077	483	1	stationary	stationary	ADJ
ajfa-11077	483	2	vector	vector	NOUN
ajfa-11077	483	3	autoregressive	autoregressive	ADJ
ajfa-11077	483	4	representation	representation	NOUN
ajfa-11077	483	5	of	of	ADP
ajfa-11077	483	6	error	error	NOUN
ajfa-11077	483	7	correction	correction	NOUN
ajfa-11077	483	8	models	model	NOUN
ajfa-11077	483	9	.	.	PUNCT
ajfa-11077	484	1	theoretical	theoretical	ADJ
ajfa-11077	484	2	economics	economic	NOUN
ajfa-11077	484	3	letters	letter	NOUN
ajfa-11077	484	4	,	,	PUNCT
ajfa-11077	484	5	2	2	NUM
ajfa-11077	484	6	,	,	PUNCT
ajfa-11077	484	7	152	152	NUM
ajfa-11077	484	8	-	-	SYM
ajfa-11077	484	9	156	156	NUM
ajfa-11077	484	10	.	.	PUNCT
ajfa-11077	485	1	https://doi.org/10.4236/tel.2012.22027	https://doi.org/10.4236/tel.2012.22027	NOUN
ajfa-11077	485	2	.	.	PUNCT
ajfa-11077	486	1	kim	kim	PROPN
ajfa-11077	486	2	,	,	PUNCT
ajfa-11077	486	3	y.	y.	PROPN
ajfa-11077	486	4	y.	y.	PROPN
ajfa-11077	486	5	(	(	PUNCT
ajfa-11077	486	6	2013	2013	NUM
ajfa-11077	486	7	)	)	PUNCT
ajfa-11077	486	8	.	.	PUNCT
ajfa-11077	487	1	optimal	optimal	ADJ
ajfa-11077	487	2	foreign	foreign	ADJ
ajfa-11077	487	3	exchange	exchange	NOUN
ajfa-11077	487	4	risk	risk	NOUN
ajfa-11077	487	5	hedging	hedging	NOUN
ajfa-11077	487	6	:	:	PUNCT
ajfa-11077	487	7	a	a	DET
ajfa-11077	487	8	mean	mean	ADJ
ajfa-11077	487	9	-	-	PUNCT
ajfa-11077	487	10	variance	variance	NOUN
ajfa-11077	487	11	portfolio	portfolio	NOUN
ajfa-11077	487	12	approach	approach	NOUN
ajfa-11077	487	13	.	.	PUNCT
ajfa-11077	488	1	theoretical	theoretical	ADJ
ajfa-11077	488	2	economics	economic	NOUN
ajfa-11077	488	3	letters	letter	NOUN
ajfa-11077	488	4	,	,	PUNCT
ajfa-11077	488	5	3	3	NUM
ajfa-11077	488	6	,	,	PUNCT
ajfa-11077	488	7	1	1	NUM
ajfa-11077	488	8	-	-	SYM
ajfa-11077	488	9	6	6	NUM
ajfa-11077	488	10	.	.	PUNCT
ajfa-11077	489	1	https://doi.org/10.4236/tel.2013.31001	https://doi.org/10.4236/tel.2013.31001	PROPN
ajfa-11077	489	2	.	.	PUNCT
ajfa-11077	490	1	kelilume	kelilume	PROPN
ajfa-11077	490	2	,	,	PUNCT
ajfa-11077	490	3	i.	i.	PROPN
ajfa-11077	490	4	(	(	PUNCT
ajfa-11077	490	5	2016	2016	NUM
ajfa-11077	490	6	)	)	PUNCT
ajfa-11077	490	7	.	.	PUNCT
ajfa-11077	491	1	exchange	exchange	NOUN
ajfa-11077	491	2	rate	rate	NOUN
ajfa-11077	491	3	volatility	volatility	NOUN
ajfa-11077	491	4	and	and	CCONJ
ajfa-11077	491	5	firm	firm	ADJ
ajfa-11077	491	6	performance	performance	NOUN
ajfa-11077	491	7	in	in	ADP
ajfa-11077	491	8	nigeria	nigeria	PROPN
ajfa-11077	491	9	:	:	PUNCT
ajfa-11077	491	10	a	a	DET
ajfa-11077	491	11	dynamic	dynamic	ADJ
ajfa-11077	491	12	asian	asian	ADJ
ajfa-11077	491	13	journal	journal	NOUN
ajfa-11077	491	14	of	of	ADP
ajfa-11077	491	15	finance	finance	PROPN
ajfa-11077	491	16	&	&	CCONJ
ajfa-11077	491	17	accounting	accounting	PROPN
ajfa-11077	491	18	issn	issn	PROPN
ajfa-11077	491	19	1946	1946	NUM
ajfa-11077	491	20	-	-	PUNCT
ajfa-11077	491	21	052x	052x	PROPN
ajfa-11077	491	22	2017	2017	NUM
ajfa-11077	491	23	,	,	PUNCT
ajfa-11077	491	24	vol	vol	NOUN
ajfa-11077	491	25	.	.	NOUN
ajfa-11077	491	26	9	9	NUM
ajfa-11077	491	27	,	,	PUNCT
ajfa-11077	491	28	no	no	INTJ
ajfa-11077	491	29	.	.	NOUN
ajfa-11077	491	30	1	1	NUM
ajfa-11077	491	31	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	491	32	308	308	NUM
ajfa-11077	491	33	panel	panel	NOUN
ajfa-11077	491	34	regression	regression	NOUN
ajfa-11077	491	35	approach	approach	NOUN
ajfa-11077	491	36	.	.	PUNCT
ajfa-11077	492	1	the	the	DET
ajfa-11077	492	2	journal	journal	NOUN
ajfa-11077	492	3	of	of	ADP
ajfa-11077	492	4	developing	develop	VERB
ajfa-11077	492	5	areas	area	NOUN
ajfa-11077	492	6	,	,	PUNCT
ajfa-11077	492	7	50(6	50(6	NUM
ajfa-11077	492	8	)	)	PUNCT
ajfa-11077	492	9	,	,	PUNCT
ajfa-11077	492	10	161	161	NUM
ajfa-11077	492	11	-	-	SYM
ajfa-11077	492	12	174	174	NUM
ajfa-11077	492	13	.	.	PUNCT
ajfa-11077	493	1	https://doi.org/10.1353/jda.2016.0134	https://doi.org/10.1353/jda.2016.0134	NOUN
ajfa-11077	493	2	.	.	PUNCT
ajfa-11077	494	1	koo	koo	PROPN
ajfa-11077	494	2	,	,	PUNCT
ajfa-11077	494	3	a.	a.	NOUN
ajfa-11077	494	4	(	(	PUNCT
ajfa-11077	494	5	1994	1994	NUM
ajfa-11077	494	6	)	)	PUNCT
ajfa-11077	494	7	.	.	PUNCT
ajfa-11077	495	1	estimation	estimation	NOUN
ajfa-11077	495	2	of	of	ADP
ajfa-11077	495	3	foreign	foreign	ADJ
ajfa-11077	495	4	exchange	exchange	NOUN
ajfa-11077	495	5	exposure	exposure	NOUN
ajfa-11077	495	6	:	:	PUNCT
ajfa-11077	495	7	an	an	DET
ajfa-11077	495	8	application	application	NOUN
ajfa-11077	495	9	to	to	ADP
ajfa-11077	495	10	mining	mining	NOUN
ajfa-11077	495	11	companies	company	NOUN
ajfa-11077	495	12	in	in	ADP
ajfa-11077	495	13	australia	australia	PROPN
ajfa-11077	495	14	.	.	PUNCT
ajfa-11077	496	1	journal	journal	PROPN
ajfa-11077	496	2	of	of	ADP
ajfa-11077	496	3	international	international	ADJ
ajfa-11077	496	4	money	money	NOUN
ajfa-11077	496	5	and	and	CCONJ
ajfa-11077	496	6	finance	finance	NOUN
ajfa-11077	496	7	,	,	PUNCT
ajfa-11077	496	8	13(3	13(3	NUM
ajfa-11077	496	9	)	)	PUNCT
ajfa-11077	496	10	,	,	PUNCT
ajfa-11077	496	11	342	342	NUM
ajfa-11077	496	12	-	-	SYM
ajfa-11077	496	13	363	363	NUM
ajfa-11077	496	14	.	.	PUNCT
ajfa-11077	497	1	https://doi.org/10.1016/0261-5606(94)90032-9	https://doi.org/10.1016/0261-5606(94)90032-9	NOUN
ajfa-11077	497	2	.	.	PUNCT
ajfa-11077	498	1	maloney	maloney	PROPN
ajfa-11077	498	2	,	,	PUNCT
ajfa-11077	498	3	p.	p.	NOUN
ajfa-11077	498	4	j.	j.	PROPN
ajfa-11077	498	5	(	(	PUNCT
ajfa-11077	498	6	1990	1990	NUM
ajfa-11077	498	7	)	)	PUNCT
ajfa-11077	498	8	.	.	PUNCT
ajfa-11077	499	1	management	management	NOUN
ajfa-11077	499	2	currency	currency	NOUN
ajfa-11077	499	3	exposure	exposure	NOUN
ajfa-11077	499	4	:	:	PUNCT
ajfa-11077	499	5	the	the	DET
ajfa-11077	499	6	case	case	NOUN
ajfa-11077	499	7	of	of	ADP
ajfa-11077	499	8	western	western	ADJ
ajfa-11077	499	9	mining	mining	NOUN
ajfa-11077	499	10	.	.	PUNCT
ajfa-11077	500	1	journal	journal	PROPN
ajfa-11077	500	2	of	of	ADP
ajfa-11077	500	3	applied	apply	VERB
ajfa-11077	500	4	corporate	corporate	ADJ
ajfa-11077	500	5	finance	finance	NOUN
ajfa-11077	500	6	,	,	PUNCT
ajfa-11077	500	7	2(4	2(4	NUM
ajfa-11077	500	8	)	)	PUNCT
ajfa-11077	500	9	,	,	PUNCT
ajfa-11077	500	10	29	29	NUM
ajfa-11077	500	11	-	-	SYM
ajfa-11077	500	12	34	34	NUM
ajfa-11077	500	13	.	.	PUNCT
ajfa-11077	501	1	https://doi.org/10.1111/j.1745-6622.1990.tb00185.x	https://doi.org/10.1111/j.1745-6622.1990.tb00185.x	PROPN
ajfa-11077	501	2	.	.	PUNCT
ajfa-11077	501	3	markowitz	markowitz	PROPN
ajfa-11077	501	4	,	,	PUNCT
ajfa-11077	501	5	h.m	h.m	PROPN
ajfa-11077	501	6	.	.	PROPN
ajfa-11077	501	7	(	(	PUNCT
ajfa-11077	501	8	1952	1952	NUM
ajfa-11077	501	9	)	)	PUNCT
ajfa-11077	501	10	.	.	PUNCT
ajfa-11077	502	1	portfolio	portfolio	NOUN
ajfa-11077	502	2	selection	selection	NOUN
ajfa-11077	502	3	.	.	PUNCT
ajfa-11077	503	1	journal	journal	PROPN
ajfa-11077	503	2	of	of	ADP
ajfa-11077	503	3	finance	finance	NOUN
ajfa-11077	503	4	,	,	PUNCT
ajfa-11077	503	5	7(1	7(1	NUM
ajfa-11077	503	6	)	)	PUNCT
ajfa-11077	503	7	,	,	PUNCT
ajfa-11077	503	8	77	77	NUM
ajfa-11077	503	9	-	-	SYM
ajfa-11077	503	10	91	91	NUM
ajfa-11077	503	11	.	.	PUNCT
ajfa-11077	504	1	https://doi.org/10.1111/j.1540-6261.1952.tb01525.x	https://doi.org/10.1111/j.1540-6261.1952.tb01525.x	PROPN
ajfa-11077	504	2	.	.	PUNCT
ajfa-11077	505	1	min	min	PROPN
ajfa-11077	505	2	,	,	PUNCT
ajfa-11077	505	3	c.	c.	PROPN
ajfa-11077	505	4	k.	k.	PROPN
ajfa-11077	505	5	(	(	PUNCT
ajfa-11077	505	6	2013	2013	NUM
ajfa-11077	505	7	)	)	PUNCT
ajfa-11077	505	8	.	.	PUNCT
ajfa-11077	506	1	time	time	NOUN
ajfa-11077	506	2	-	-	PUNCT
ajfa-11077	506	3	specific	specific	ADJ
ajfa-11077	506	4	effects	effect	NOUN
ajfa-11077	506	5	and	and	CCONJ
ajfa-11077	506	6	a	a	DET
ajfa-11077	506	7	test	test	NOUN
ajfa-11077	506	8	of	of	ADP
ajfa-11077	506	9	the	the	DET
ajfa-11077	506	10	tourism	tourism	NOUN
ajfa-11077	506	11	-	-	PUNCT
ajfa-11077	506	12	led	lead	VERB
ajfa-11077	506	13	growth	growth	NOUN
ajfa-11077	506	14	hypothesis	hypothesis	NOUN
ajfa-11077	506	15	.	.	PUNCT
ajfa-11077	507	1	journal	journal	PROPN
ajfa-11077	507	2	of	of	ADP
ajfa-11077	507	3	tourism	tourism	NOUN
ajfa-11077	507	4	and	and	CCONJ
ajfa-11077	507	5	hospitality	hospitality	NOUN
ajfa-11077	507	6	management	management	NOUN
ajfa-11077	507	7	,	,	PUNCT
ajfa-11077	507	8	1(3	1(3	NUM
ajfa-11077	507	9	)	)	PUNCT
ajfa-11077	507	10	,	,	PUNCT
ajfa-11077	507	11	133	133	NUM
ajfa-11077	507	12	-	-	SYM
ajfa-11077	507	13	139	139	NUM
ajfa-11077	507	14	.	.	PUNCT
ajfa-11077	508	1	issn:2328	issn:2328	NOUN
ajfa-11077	508	2	-	-	PUNCT
ajfa-11077	508	3	2169	2169	NUM
ajfa-11077	508	4	.	.	PUNCT
ajfa-11077	509	1	morelli	morelli	PROPN
ajfa-11077	509	2	,	,	PUNCT
ajfa-11077	509	3	d.	d.	PROPN
ajfa-11077	509	4	(	(	PUNCT
ajfa-11077	509	5	2007	2007	NUM
ajfa-11077	509	6	)	)	PUNCT
ajfa-11077	509	7	.	.	PUNCT
ajfa-11077	510	1	beta	beta	NOUN
ajfa-11077	510	2	,	,	PUNCT
ajfa-11077	510	3	size	size	NOUN
ajfa-11077	510	4	,	,	PUNCT
ajfa-11077	510	5	book	book	NOUN
ajfa-11077	510	6	-	-	PUNCT
ajfa-11077	510	7	to	to	ADP
ajfa-11077	510	8	-	-	PUNCT
ajfa-11077	510	9	market	market	NOUN
ajfa-11077	510	10	equity	equity	NOUN
ajfa-11077	510	11	and	and	CCONJ
ajfa-11077	510	12	returns	return	NOUN
ajfa-11077	510	13	:	:	PUNCT
ajfa-11077	510	14	a	a	DET
ajfa-11077	510	15	study	study	NOUN
ajfa-11077	510	16	based	base	VERB
ajfa-11077	510	17	on	on	ADP
ajfa-11077	510	18	uk	uk	PROPN
ajfa-11077	510	19	data	data	PROPN
ajfa-11077	510	20	.	.	PUNCT
ajfa-11077	511	1	journal	journal	PROPN
ajfa-11077	511	2	of	of	ADP
ajfa-11077	511	3	multinational	multinational	ADJ
ajfa-11077	511	4	financial	financial	ADJ
ajfa-11077	511	5	management	management	NOUN
ajfa-11077	511	6	,	,	PUNCT
ajfa-11077	511	7	17(3	17(3	NUM
ajfa-11077	511	8	)	)	PUNCT
ajfa-11077	511	9	,	,	PUNCT
ajfa-11077	511	10	257	257	NUM
ajfa-11077	511	11	-	-	SYM
ajfa-11077	511	12	272	272	NUM
ajfa-11077	511	13	.	.	PUNCT
ajfa-11077	512	1	doi	doi	NOUN
ajfa-11077	512	2	:	:	PUNCT
ajfa-11077	512	3	https://doi.org/10.1016	https://doi.org/10.1016	PROPN
ajfa-11077	512	4	/	/	SYM
ajfa-11077	512	5	j.mulfin.2006.12.003	j.mulfin.2006.12.003	PROPN
ajfa-11077	512	6	.	.	PROPN
ajfa-11077	512	7	muller	muller	PROPN
ajfa-11077	512	8	,	,	PUNCT
ajfa-11077	512	9	a.	a.	PROPN
ajfa-11077	512	10	,	,	PUNCT
ajfa-11077	512	11	&	&	CCONJ
ajfa-11077	512	12	w.	w.	PROPN
ajfa-11077	512	13	f.	f.	PROPN
ajfa-11077	512	14	c.	c.	PROPN
ajfa-11077	512	15	,	,	PUNCT
ajfa-11077	512	16	verschoor	verschoor	NOUN
ajfa-11077	512	17	.	.	PUNCT
ajfa-11077	513	1	(	(	PUNCT
ajfa-11077	513	2	2006	2006	NUM
ajfa-11077	513	3	)	)	PUNCT
ajfa-11077	513	4	.	.	PUNCT
ajfa-11077	514	1	foreign	foreign	ADJ
ajfa-11077	514	2	exchange	exchange	NOUN
ajfa-11077	514	3	risk	risk	NOUN
ajfa-11077	514	4	exposure	exposure	NOUN
ajfa-11077	514	5	:	:	PUNCT
ajfa-11077	514	6	survey	survey	NOUN
ajfa-11077	514	7	and	and	CCONJ
ajfa-11077	514	8	suggestions	suggestion	NOUN
ajfa-11077	514	9	.	.	PUNCT
ajfa-11077	515	1	journal	journal	NOUN
ajfa-11077	515	2	of	of	ADP
ajfa-11077	515	3	multinational	multinational	ADJ
ajfa-11077	515	4	financial	financial	ADJ
ajfa-11077	515	5	management	management	NOUN
ajfa-11077	515	6	,	,	PUNCT
ajfa-11077	515	7	16(4	16(4	NUM
ajfa-11077	515	8	)	)	PUNCT
ajfa-11077	515	9	,	,	PUNCT
ajfa-11077	515	10	385–410	385–410	NUM
ajfa-11077	515	11	.	.	PUNCT
ajfa-11077	516	1	https://doi.org/10.1016/j.mulfin.2005.09.001	https://doi.org/10.1016/j.mulfin.2005.09.001	NOUN
ajfa-11077	516	2	.	.	PUNCT
ajfa-11077	517	1	muriithi	muriithi	PROPN
ajfa-11077	517	2	,	,	PUNCT
ajfa-11077	517	3	j.	j.	PROPN
ajfa-11077	517	4	g.	g.	PROPN
ajfa-11077	517	5	,	,	PUNCT
ajfa-11077	517	6	w.	w.	PROPN
ajfa-11077	517	7	m.	m.	PROPN
ajfa-11077	517	8	muturi	muturi	PROPN
ajfa-11077	517	9	,	,	PUNCT
ajfa-11077	517	10	&	&	CCONJ
ajfa-11077	517	11	k.	k.	PROPN
ajfa-11077	517	12	m.	m.	PROPN
ajfa-11077	517	13	waweru	waweru	PROPN
ajfa-11077	517	14	,	,	PUNCT
ajfa-11077	517	15	(	(	PUNCT
ajfa-11077	517	16	2016).the	2016).the	DET
ajfa-11077	517	17	effect	effect	NOUN
ajfa-11077	517	18	of	of	ADP
ajfa-11077	517	19	market	market	NOUN
ajfa-11077	517	20	risk	risk	NOUN
ajfa-11077	517	21	on	on	ADP
ajfa-11077	517	22	financial	financial	ADJ
ajfa-11077	517	23	performance	performance	NOUN
ajfa-11077	517	24	of	of	ADP
ajfa-11077	517	25	commercial	commercial	ADJ
ajfa-11077	517	26	banks	bank	NOUN
ajfa-11077	517	27	in	in	ADP
ajfa-11077	517	28	kenya	kenya	PROPN
ajfa-11077	517	29	.	.	PUNCT
ajfa-11077	518	1	journal	journal	PROPN
ajfa-11077	518	2	of	of	ADP
ajfa-11077	518	3	finance	finance	NOUN
ajfa-11077	518	4	and	and	CCONJ
ajfa-11077	518	5	accounting	accounting	NOUN
ajfa-11077	518	6	,	,	PUNCT
ajfa-11077	518	7	4(4	4(4	NUM
ajfa-11077	518	8	)	)	PUNCT
ajfa-11077	518	9	,	,	PUNCT
ajfa-11077	518	10	225	225	NUM
ajfa-11077	518	11	-	-	SYM
ajfa-11077	518	12	233	233	NUM
ajfa-11077	518	13	.	.	PUNCT
ajfa-11077	519	1	https://doi.org/10.11648/j.jfa.20160404.18	https://doi.org/10.11648/j.jfa.20160404.18	PROPN
ajfa-11077	519	2	.	.	PUNCT
ajfa-11077	520	1	nieh	nieh	PROPN
ajfa-11077	520	2	,	,	PUNCT
ajfa-11077	520	3	c.	c.	PROPN
ajfa-11077	520	4	c.	c.	PROPN
ajfa-11077	520	5	,	,	PUNCT
ajfa-11077	520	6	&	&	CCONJ
ajfa-11077	520	7	h.	h.	PROPN
ajfa-11077	520	8	f.	f.	PROPN
ajfa-11077	520	9	,	,	PUNCT
ajfa-11077	520	10	cho	cho	PROPN
ajfa-11077	520	11	.	.	PUNCT
ajfa-11077	521	1	(	(	PUNCT
ajfa-11077	521	2	2017	2017	NUM
ajfa-11077	521	3	)	)	PUNCT
ajfa-11077	521	4	.	.	PUNCT
ajfa-11077	522	1	the	the	DET
ajfa-11077	522	2	effect	effect	NOUN
ajfa-11077	522	3	of	of	ADP
ajfa-11077	522	4	exchange	exchange	NOUN
ajfa-11077	522	5	rate	rate	NOUN
ajfa-11077	522	6	volatility	volatility	NOUN
ajfa-11077	522	7	on	on	ADP
ajfa-11077	522	8	stock	stock	NOUN
ajfa-11077	522	9	return	return	NOUN
ajfa-11077	522	10	in	in	ADP
ajfa-11077	522	11	taiwan	taiwan	PROPN
ajfa-11077	522	12	around	around	ADP
ajfa-11077	522	13	abenomics	abenomics	PROPN
ajfa-11077	522	14	.	.	PUNCT
ajfa-11077	523	1	asian	asian	ADJ
ajfa-11077	523	2	economic	economic	ADJ
ajfa-11077	523	3	and	and	CCONJ
ajfa-11077	523	4	financial	financial	ADJ
ajfa-11077	523	5	review	review	NOUN
ajfa-11077	523	6	,	,	PUNCT
ajfa-11077	523	7	7(4	7(4	NUM
ajfa-11077	523	8	)	)	PUNCT
ajfa-11077	523	9	,	,	PUNCT
ajfa-11077	523	10	368	368	NUM
ajfa-11077	523	11	-	-	SYM
ajfa-11077	523	12	380	380	NUM
ajfa-11077	523	13	.	.	PUNCT
ajfa-11077	524	1	https://doi.org/10.18488/journal.aefr/2017.7.4/102.4.368.380	https://doi.org/10.18488/journal.aefr/2017.7.4/102.4.368.380	NOUN
ajfa-11077	524	2	.	.	PUNCT
ajfa-11077	525	1	oh	oh	INTJ
ajfa-11077	525	2	,	,	PUNCT
ajfa-11077	525	3	c.o	c.o	PROPN
ajfa-11077	525	4	.	.	PROPN
ajfa-11077	525	5	(	(	PUNCT
ajfa-11077	525	6	2005	2005	NUM
ajfa-11077	525	7	)	)	PUNCT
ajfa-11077	525	8	.	.	PUNCT
ajfa-11077	526	1	the	the	DET
ajfa-11077	526	2	contribution	contribution	NOUN
ajfa-11077	526	3	of	of	ADP
ajfa-11077	526	4	tourism	tourism	NOUN
ajfa-11077	526	5	development	development	NOUN
ajfa-11077	526	6	to	to	ADP
ajfa-11077	526	7	economic	economic	ADJ
ajfa-11077	526	8	growth	growth	NOUN
ajfa-11077	526	9	in	in	ADP
ajfa-11077	526	10	the	the	DET
ajfa-11077	526	11	korean	korean	ADJ
ajfa-11077	526	12	economy	economy	NOUN
ajfa-11077	526	13	.	.	PUNCT
ajfa-11077	527	1	tourism	tourism	NOUN
ajfa-11077	527	2	management	management	NOUN
ajfa-11077	527	3	,	,	PUNCT
ajfa-11077	527	4	26(1	26(1	NUM
ajfa-11077	527	5	)	)	PUNCT
ajfa-11077	527	6	,	,	PUNCT
ajfa-11077	527	7	39	39	NUM
ajfa-11077	527	8	-	-	SYM
ajfa-11077	527	9	44	44	NUM
ajfa-11077	527	10	.	.	PUNCT
ajfa-11077	528	1	https://doi.org/10.1016/j.tourman.2003.09.014	https://doi.org/10.1016/j.tourman.2003.09.014	PROPN
ajfa-11077	528	2	.	.	PUNCT
ajfa-11077	528	3	patro	patro	PROPN
ajfa-11077	528	4	,	,	PUNCT
ajfa-11077	528	5	d.k	d.k	PROPN
ajfa-11077	528	6	.	.	PROPN
ajfa-11077	528	7	,	,	PUNCT
ajfa-11077	528	8	j.	j.	PROPN
ajfa-11077	528	9	k.	k.	PROPN
ajfa-11077	528	10	,	,	PUNCT
ajfa-11077	528	11	wald	wald	PROPN
ajfa-11077	528	12	,	,	PUNCT
ajfa-11077	528	13	&	&	CCONJ
ajfa-11077	528	14	y.	y.	PROPN
ajfa-11077	528	15	wu	wu	PROPN
ajfa-11077	528	16	,	,	PUNCT
ajfa-11077	528	17	(	(	PUNCT
ajfa-11077	528	18	2002	2002	NUM
ajfa-11077	528	19	)	)	PUNCT
ajfa-11077	528	20	.	.	PUNCT
ajfa-11077	529	1	explaining	explain	VERB
ajfa-11077	529	2	exchange	exchange	NOUN
ajfa-11077	529	3	rate	rate	NOUN
ajfa-11077	529	4	risk	risk	NOUN
ajfa-11077	529	5	in	in	ADP
ajfa-11077	529	6	world	world	NOUN
ajfa-11077	529	7	stock	stock	NOUN
ajfa-11077	529	8	markets	market	NOUN
ajfa-11077	529	9	:	:	PUNCT
ajfa-11077	529	10	a	a	DET
ajfa-11077	529	11	panel	panel	NOUN
ajfa-11077	529	12	approach	approach	NOUN
ajfa-11077	529	13	.	.	PUNCT
ajfa-11077	530	1	journal	journal	NOUN
ajfa-11077	530	2	of	of	ADP
ajfa-11077	530	3	banking	banking	NOUN
ajfa-11077	530	4	&	&	CCONJ
ajfa-11077	530	5	finance	finance	PROPN
ajfa-11077	530	6	,	,	PUNCT
ajfa-11077	530	7	26(10	26(10	NUM
ajfa-11077	530	8	)	)	PUNCT
ajfa-11077	530	9	,	,	PUNCT
ajfa-11077	530	10	1951	1951	NUM
ajfa-11077	530	11	-	-	SYM
ajfa-11077	530	12	1972	1972	NUM
ajfa-11077	530	13	.	.	PUNCT
ajfa-11077	531	1	http://doi.org/10.1016/s0378-4266(01)00178-9	http://doi.org/10.1016/s0378-4266(01)00178-9	PROPN
ajfa-11077	531	2	.	.	PUNCT
ajfa-11077	532	1	po	po	PROPN
ajfa-11077	532	2	,	,	PUNCT
ajfa-11077	532	3	w.	w.	PROPN
ajfa-11077	532	4	c.	c.	PROPN
ajfa-11077	532	5	,	,	PUNCT
ajfa-11077	532	6	&	&	CCONJ
ajfa-11077	532	7	b.	b.	PROPN
ajfa-11077	532	8	n.	n.	PROPN
ajfa-11077	532	9	huang	huang	PROPN
ajfa-11077	532	10	.	.	PUNCT
ajfa-11077	533	1	(	(	PUNCT
ajfa-11077	533	2	2008	2008	NUM
ajfa-11077	533	3	)	)	PUNCT
ajfa-11077	533	4	.	.	PUNCT
ajfa-11077	534	1	tourism	tourism	NOUN
ajfa-11077	534	2	development	development	NOUN
ajfa-11077	534	3	and	and	CCONJ
ajfa-11077	534	4	economic	economic	ADJ
ajfa-11077	534	5	growth	growth	NOUN
ajfa-11077	534	6	–	–	PUNCT
ajfa-11077	534	7	a	a	DET
ajfa-11077	534	8	nonlinear	nonlinear	ADJ
ajfa-11077	534	9	approach	approach	NOUN
ajfa-11077	534	10	.	.	PUNCT
ajfa-11077	535	1	physica	physica	PROPN
ajfa-11077	535	2	a	a	DET
ajfa-11077	535	3	:	:	PUNCT
ajfa-11077	535	4	statistical	statistical	ADJ
ajfa-11077	535	5	mechanics	mechanic	NOUN
ajfa-11077	535	6	and	and	CCONJ
ajfa-11077	535	7	its	its	PRON
ajfa-11077	535	8	applications	application	NOUN
ajfa-11077	535	9	,	,	PUNCT
ajfa-11077	535	10	387(22	387(22	NUM
ajfa-11077	535	11	)	)	PUNCT
ajfa-11077	535	12	,	,	PUNCT
ajfa-11077	535	13	5535	5535	NUM
ajfa-11077	535	14	-	-	SYM
ajfa-11077	535	15	5542	5542	NUM
ajfa-11077	535	16	.	.	PUNCT
ajfa-11077	536	1	https://doi.org/10.1016/j.physa.2008.05.037	https://doi.org/10.1016/j.physa.2008.05.037	PROPN
ajfa-11077	536	2	.	.	PUNCT
ajfa-11077	537	1	polodoo	polodoo	VERB
ajfa-11077	537	2	v.	v.	ADV
ajfa-11077	537	3	,	,	PUNCT
ajfa-11077	537	4	seetanah	seetanah	PROPN
ajfa-11077	537	5	b.	b.	PROPN
ajfa-11077	537	6	,	,	PUNCT
ajfa-11077	537	7	and	and	CCONJ
ajfa-11077	537	8	r.	r.	PROPN
ajfa-11077	537	9	b.	b.	PROPN
ajfa-11077	537	10	,	,	PUNCT
ajfa-11077	537	11	sannassee	sannassee	VERB
ajfa-11077	537	12	,	,	PUNCT
ajfa-11077	537	13	(	(	PUNCT
ajfa-11077	537	14	2016	2016	NUM
ajfa-11077	537	15	)	)	PUNCT
ajfa-11077	537	16	.	.	PUNCT
ajfa-11077	538	1	exchange	exchange	NOUN
ajfa-11077	538	2	rate	rate	NOUN
ajfa-11077	538	3	volatility	volatility	NOUN
ajfa-11077	538	4	and	and	CCONJ
ajfa-11077	538	5	manufacturing	manufacturing	NOUN
ajfa-11077	538	6	trade	trade	NOUN
ajfa-11077	538	7	:	:	PUNCT
ajfa-11077	538	8	evidence	evidence	NOUN
ajfa-11077	538	9	from	from	ADP
ajfa-11077	538	10	africa	africa	PROPN
ajfa-11077	538	11	.	.	PUNCT
ajfa-11077	539	1	the	the	DET
ajfa-11077	539	2	journal	journal	NOUN
ajfa-11077	539	3	of	of	ADP
ajfa-11077	539	4	developing	develop	VERB
ajfa-11077	539	5	areas	area	NOUN
ajfa-11077	539	6	,	,	PUNCT
ajfa-11077	539	7	50(6	50(6	NUM
ajfa-11077	539	8	)	)	PUNCT
ajfa-11077	539	9	,	,	PUNCT
ajfa-11077	539	10	133	133	NUM
ajfa-11077	539	11	-	-	SYM
ajfa-11077	539	12	148	148	NUM
ajfa-11077	539	13	.	.	PUNCT
ajfa-11077	540	1	https://doi.org/10.1353/jda.2016.0125	https://doi.org/10.1353/jda.2016.0125	NOUN
ajfa-11077	540	2	.	.	PUNCT
ajfa-11077	540	3	portnov	portnov	PROPN
ajfa-11077	540	4	,	,	PUNCT
ajfa-11077	540	5	b.a	b.a	PROPN
ajfa-11077	540	6	.	.	PROPN
ajfa-11077	540	7	,	,	PUNCT
ajfa-11077	540	8	&	&	CCONJ
ajfa-11077	540	9	w.	w.	PROPN
ajfa-11077	540	10	d.	d.	PROPN
ajfa-11077	540	11	h.	h.	PROPN
ajfa-11077	540	12	li	li	PROPN
ajfa-11077	540	13	,	,	PUNCT
ajfa-11077	540	14	(	(	PUNCT
ajfa-11077	540	15	2013	2013	NUM
ajfa-11077	540	16	)	)	PUNCT
ajfa-11077	540	17	.	.	PUNCT
ajfa-11077	541	1	investigating	investigate	VERB
ajfa-11077	541	2	the	the	DET
ajfa-11077	541	3	effect	effect	NOUN
ajfa-11077	541	4	of	of	ADP
ajfa-11077	541	5	global	global	ADJ
ajfa-11077	541	6	economic	economic	ADJ
ajfa-11077	541	7	crisis	crisis	NOUN
ajfa-11077	541	8	on	on	ADP
ajfa-11077	541	9	asian	asian	ADJ
ajfa-11077	541	10	journal	journal	NOUN
ajfa-11077	541	11	of	of	ADP
ajfa-11077	541	12	finance	finance	PROPN
ajfa-11077	541	13	&	&	CCONJ
ajfa-11077	541	14	accounting	accounting	PROPN
ajfa-11077	541	15	issn	issn	PROPN
ajfa-11077	541	16	1946	1946	NUM
ajfa-11077	541	17	-	-	PUNCT
ajfa-11077	541	18	052x	052x	PROPN
ajfa-11077	541	19	2017	2017	NUM
ajfa-11077	541	20	,	,	PUNCT
ajfa-11077	541	21	vol	vol	NOUN
ajfa-11077	541	22	.	.	NOUN
ajfa-11077	541	23	9	9	NUM
ajfa-11077	541	24	,	,	PUNCT
ajfa-11077	541	25	no	no	INTJ
ajfa-11077	541	26	.	.	NOUN
ajfa-11077	541	27	1	1	NUM
ajfa-11077	541	28	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-11077	541	29	309	309	NUM
ajfa-11077	541	30	foreign	foreign	ADJ
ajfa-11077	541	31	tourism	tourism	NOUN
ajfa-11077	541	32	to	to	ADP
ajfa-11077	541	33	taiwan	taiwan	PROPN
ajfa-11077	541	34	.	.	PUNCT
ajfa-11077	542	1	journal	journal	PROPN
ajfa-11077	542	2	of	of	ADP
ajfa-11077	542	3	tourism	tourism	NOUN
ajfa-11077	542	4	and	and	CCONJ
ajfa-11077	542	5	hospitality	hospitality	NOUN
ajfa-11077	542	6	management	management	NOUN
ajfa-11077	542	7	,	,	PUNCT
ajfa-11077	542	8	1(3	1(3	NUM
ajfa-11077	542	9	)	)	PUNCT
ajfa-11077	542	10	,	,	PUNCT
ajfa-11077	542	11	113	113	NUM
ajfa-11077	542	12	-	-	SYM
ajfa-11077	542	13	132	132	NUM
ajfa-11077	542	14	.	.	PUNCT
ajfa-11077	543	1	http://www.davidpublishing.org/journals_info.asp?jid=1847	http://www.davidpublishing.org/journals_info.asp?jid=1847	PROPN
ajfa-11077	543	2	.	.	PUNCT
ajfa-11077	544	1	pritamani	pritamani	PROPN
ajfa-11077	544	2	,	,	PUNCT
ajfa-11077	544	3	m.	m.	NOUN
ajfa-11077	544	4	,	,	PUNCT
ajfa-11077	544	5	d.	d.	PROPN
ajfa-11077	544	6	shome	shome	PROPN
ajfa-11077	544	7	,	,	PUNCT
ajfa-11077	544	8	&	&	CCONJ
ajfa-11077	544	9	v.	v.	ADP
ajfa-11077	544	10	singal	singal	PROPN
ajfa-11077	544	11	.	.	PUNCT
ajfa-11077	545	1	(	(	PUNCT
ajfa-11077	545	2	2005	2005	NUM
ajfa-11077	545	3	)	)	PUNCT
ajfa-11077	545	4	.	.	PUNCT
ajfa-11077	546	1	exchange	exchange	NOUN
ajfa-11077	546	2	rate	rate	NOUN
ajfa-11077	546	3	exposure	exposure	NOUN
ajfa-11077	546	4	of	of	ADP
ajfa-11077	546	5	exporting	export	VERB
ajfa-11077	546	6	and	and	CCONJ
ajfa-11077	546	7	importing	import	VERB
ajfa-11077	546	8	firms	firm	NOUN
ajfa-11077	546	9	.	.	PUNCT
ajfa-11077	547	1	journal	journal	NOUN
ajfa-11077	547	2	of	of	ADP
ajfa-11077	547	3	applied	apply	VERB
ajfa-11077	547	4	corporate	corporate	ADJ
ajfa-11077	547	5	finance	finance	NOUN
ajfa-11077	547	6	,	,	PUNCT
ajfa-11077	547	7	17(3	17(3	NUM
ajfa-11077	547	8	)	)	PUNCT
ajfa-11077	547	9	,	,	PUNCT
ajfa-11077	547	10	87	87	NUM
ajfa-11077	547	11	-	-	SYM
ajfa-11077	547	12	94	94	NUM
ajfa-11077	547	13	.	.	PUNCT
ajfa-11077	548	1	https://doi.org/10.1111/j.1745-6622.2005.00047.x	https://doi.org/10.1111/j.1745-6622.2005.00047.x	NOUN
ajfa-11077	548	2	.	.	PUNCT
ajfa-11077	548	3	salifu	salifu	PROPN
ajfa-11077	548	4	,	,	PUNCT
ajfa-11077	548	5	z	z	PROPN
ajfa-11077	548	6	,	,	PUNCT
ajfa-11077	548	7	k.	k.	PROPN
ajfa-11077	548	8	a.	a.	PROPN
ajfa-11077	548	9	osei	osei	PROPN
ajfa-11077	548	10	,	,	PUNCT
ajfa-11077	548	11	&	&	CCONJ
ajfa-11077	548	12	c.	c.	PROPN
ajfa-11077	548	13	k.	k.	PROPN
ajfa-11077	548	14	d.	d.	PROPN
ajfa-11077	549	1	adjasi	adjasi	PROPN
ajfa-11077	549	2	,	,	PUNCT
ajfa-11077	549	3	(	(	PUNCT
ajfa-11077	549	4	2007	2007	NUM
ajfa-11077	549	5	)	)	PUNCT
ajfa-11077	549	6	.	.	PUNCT
ajfa-11077	550	1	foreign	foreign	ADJ
ajfa-11077	550	2	exchange	exchange	NOUN
ajfa-11077	550	3	risk	risk	NOUN
ajfa-11077	550	4	exposure	exposure	NOUN
ajfa-11077	550	5	of	of	ADP
ajfa-11077	550	6	listed	list	VERB
ajfa-11077	550	7	companies	company	NOUN
ajfa-11077	550	8	in	in	ADP
ajfa-11077	550	9	ghana	ghana	PROPN
ajfa-11077	550	10	.	.	PUNCT
ajfa-11077	551	1	the	the	DET
ajfa-11077	551	2	journal	journal	NOUN
ajfa-11077	551	3	of	of	ADP
ajfa-11077	551	4	risk	risk	NOUN
ajfa-11077	551	5	finance	finance	NOUN
ajfa-11077	551	6	,	,	PUNCT
ajfa-11077	551	7	8(4	8(4	NUM
ajfa-11077	551	8	)	)	PUNCT
ajfa-11077	551	9	,	,	PUNCT
ajfa-11077	551	10	380	380	NUM
ajfa-11077	551	11	-	-	SYM
ajfa-11077	551	12	393	393	NUM
ajfa-11077	551	13	.	.	PUNCT
ajfa-11077	552	1	https://dx.doi.org/10.1108/15265940710777324	https://dx.doi.org/10.1108/15265940710777324	NOUN
ajfa-11077	552	2	.	.	PUNCT
ajfa-11077	553	1	scheel	scheel	PROPN
ajfa-11077	553	2	,	,	PUNCT
ajfa-11077	553	3	w.	w.	PROPN
ajfa-11077	553	4	c.	c.	PROPN
ajfa-11077	553	5	(	(	PUNCT
ajfa-11077	553	6	1978	1978	NUM
ajfa-11077	553	7	)	)	PUNCT
ajfa-11077	553	8	.	.	PUNCT
ajfa-11077	554	1	comparisons	comparison	NOUN
ajfa-11077	554	2	of	of	ADP
ajfa-11077	554	3	riskiness	riskiness	NOUN
ajfa-11077	554	4	as	as	SCONJ
ajfa-11077	554	5	measured	measure	VERB
ajfa-11077	554	6	by	by	ADP
ajfa-11077	554	7	the	the	DET
ajfa-11077	554	8	coefficient	coefficient	NOUN
ajfa-11077	554	9	of	of	ADP
ajfa-11077	554	10	variation	variation	NOUN
ajfa-11077	554	11	.	.	PUNCT
ajfa-11077	555	1	the	the	DET
ajfa-11077	555	2	journal	journal	NOUN
ajfa-11077	555	3	of	of	ADP
ajfa-11077	555	4	risk	risk	NOUN
ajfa-11077	555	5	and	and	CCONJ
ajfa-11077	555	6	insurance	insurance	NOUN
ajfa-11077	555	7	,	,	PUNCT
ajfa-11077	555	8	45(1	45(1	NOUN
ajfa-11077	555	9	)	)	PUNCT
ajfa-11077	555	10	,	,	PUNCT
ajfa-11077	555	11	148	148	NUM
ajfa-11077	555	12	-	-	SYM
ajfa-11077	555	13	152	152	NUM
ajfa-11077	555	14	.	.	PUNCT
ajfa-11077	556	1	https://doi.org/10.2307/251816	https://doi.org/10.2307/251816	PROPN
ajfa-11077	556	2	.	.	PUNCT
ajfa-11077	557	1	schnabel	schnabel	PROPN
ajfa-11077	557	2	,	,	PUNCT
ajfa-11077	557	3	j.	j.	PROPN
ajfa-11077	557	4	a.	a.	PROPN
ajfa-11077	557	5	(	(	PUNCT
ajfa-11077	557	6	1989	1989	NUM
ajfa-11077	557	7	)	)	PUNCT
ajfa-11077	557	8	.	.	PUNCT
ajfa-11077	558	1	exposure	exposure	NOUN
ajfa-11077	558	2	to	to	ADP
ajfa-11077	558	3	foreign	foreign	ADJ
ajfa-11077	558	4	exchange	exchange	NOUN
ajfa-11077	558	5	risk	risk	NOUN
ajfa-11077	558	6	:	:	PUNCT
ajfa-11077	558	7	a	a	DET
ajfa-11077	558	8	multi	multi	ADJ
ajfa-11077	558	9	-	-	ADJ
ajfa-11077	558	10	currency	currency	ADJ
ajfa-11077	558	11	extension	extension	NOUN
ajfa-11077	558	12	.	.	PUNCT
ajfa-11077	559	1	managerial	managerial	ADJ
ajfa-11077	559	2	and	and	CCONJ
ajfa-11077	559	3	decision	decision	NOUN
ajfa-11077	559	4	economics	economic	NOUN
ajfa-11077	559	5	,	,	PUNCT
ajfa-11077	559	6	10(4	10(4	NUM
ajfa-11077	559	7	)	)	PUNCT
ajfa-11077	559	8	,	,	PUNCT
ajfa-11077	559	9	331	331	NUM
ajfa-11077	559	10	-	-	SYM
ajfa-11077	559	11	333	333	NUM
ajfa-11077	559	12	.	.	PUNCT
ajfa-11077	560	1	https://dx.doi.org/10.1002/mde.4090100411	https://dx.doi.org/10.1002/mde.4090100411	NOUN
ajfa-11077	560	2	.	.	PUNCT
ajfa-11077	561	1	schnabel	schnabel	PROPN
ajfa-11077	561	2	,	,	PUNCT
ajfa-11077	561	3	j.	j.	PROPN
ajfa-11077	561	4	a.	a.	PROPN
ajfa-11077	561	5	,	,	PUNCT
ajfa-11077	561	6	(	(	PUNCT
ajfa-11077	561	7	1994	1994	NUM
ajfa-11077	561	8	)	)	PUNCT
ajfa-11077	561	9	.	.	PUNCT
ajfa-11077	562	1	real	real	ADJ
ajfa-11077	562	2	exposure	exposure	NOUN
ajfa-11077	562	3	to	to	ADP
ajfa-11077	562	4	foreign	foreign	ADJ
ajfa-11077	562	5	currency	currency	NOUN
ajfa-11077	562	6	risk	risk	NOUN
ajfa-11077	562	7	.	.	PUNCT
ajfa-11077	563	1	managerial	managerial	ADJ
ajfa-11077	563	2	finance	finance	NOUN
ajfa-11077	563	3	,	,	PUNCT
ajfa-11077	563	4	20(8	20(8	NOUN
ajfa-11077	563	5	)	)	PUNCT
ajfa-11077	563	6	,	,	PUNCT
ajfa-11077	563	7	69	69	NUM
ajfa-11077	563	8	-	-	SYM
ajfa-11077	563	9	77	77	NUM
ajfa-11077	563	10	.	.	PUNCT
ajfa-11077	564	1	https://doi.org/10.1108/eb018487	https://doi.org/10.1108/eb018487	X
ajfa-11077	564	2	.	.	PUNCT
ajfa-11077	564	3	sharpe	sharpe	PROPN
ajfa-11077	564	4	,	,	PUNCT
ajfa-11077	564	5	w.	w.	PROPN
ajfa-11077	564	6	f.	f.	PROPN
ajfa-11077	564	7	(	(	PUNCT
ajfa-11077	564	8	1964	1964	NUM
ajfa-11077	564	9	)	)	PUNCT
ajfa-11077	564	10	.	.	PUNCT
ajfa-11077	565	1	capital	capital	NOUN
ajfa-11077	565	2	asset	asset	NOUN
ajfa-11077	565	3	pricing	pricing	NOUN
ajfa-11077	565	4	:	:	PUNCT
ajfa-11077	565	5	a	a	DET
ajfa-11077	565	6	theory	theory	NOUN
ajfa-11077	565	7	of	of	ADP
ajfa-11077	565	8	market	market	NOUN
ajfa-11077	565	9	equilibrium	equilibrium	NOUN
ajfa-11077	565	10	under	under	ADP
ajfa-11077	565	11	conditions	condition	NOUN
ajfa-11077	565	12	of	of	ADP
ajfa-11077	565	13	risk	risk	NOUN
ajfa-11077	565	14	.	.	PUNCT
ajfa-11077	566	1	the	the	DET
ajfa-11077	566	2	journal	journal	PROPN
ajfa-11077	566	3	of	of	ADP
ajfa-11077	566	4	finance	finance	NOUN
ajfa-11077	566	5	,	,	PUNCT
ajfa-11077	566	6	19(3	19(3	NUM
ajfa-11077	566	7	)	)	PUNCT
ajfa-11077	566	8	,	,	PUNCT
ajfa-11077	566	9	424	424	NUM
ajfa-11077	566	10	-	-	SYM
ajfa-11077	566	11	447	447	NUM
ajfa-11077	566	12	.	.	PUNCT
ajfa-11077	567	1	https://doi.org/10.1111/j.1540-6261.1964.tb02865.x	https://doi.org/10.1111/j.1540-6261.1964.tb02865.x	PROPN
ajfa-11077	567	2	.	.	PUNCT
ajfa-11077	567	3	smithson	smithson	PROPN
ajfa-11077	567	4	,	,	PUNCT
ajfa-11077	567	5	c.	c.	PROPN
ajfa-11077	567	6	,	,	PUNCT
ajfa-11077	567	7	&	&	CCONJ
ajfa-11077	567	8	b.	b.	PROPN
ajfa-11077	567	9	j.	j.	PROPN
ajfa-11077	567	10	simkins	simkins	PROPN
ajfa-11077	567	11	.	.	PUNCT
ajfa-11077	568	1	(	(	PUNCT
ajfa-11077	568	2	2005	2005	NUM
ajfa-11077	568	3	)	)	PUNCT
ajfa-11077	568	4	.	.	PUNCT
ajfa-11077	569	1	does	do	AUX
ajfa-11077	569	2	risk	risk	NOUN
ajfa-11077	569	3	management	management	NOUN
ajfa-11077	569	4	add	add	VERB
ajfa-11077	569	5	value	value	NOUN
ajfa-11077	569	6	?	?	PUNCT
ajfa-11077	570	1	a	a	DET
ajfa-11077	570	2	survey	survey	NOUN
ajfa-11077	570	3	of	of	ADP
ajfa-11077	570	4	the	the	DET
ajfa-11077	570	5	evidence	evidence	NOUN
ajfa-11077	570	6	.	.	PUNCT
ajfa-11077	571	1	journal	journal	NOUN
ajfa-11077	571	2	of	of	ADP
ajfa-11077	571	3	applied	apply	VERB
ajfa-11077	571	4	corporate	corporate	ADJ
ajfa-11077	571	5	finance	finance	NOUN
ajfa-11077	571	6	,	,	PUNCT
ajfa-11077	571	7	17(3	17(3	NUM
ajfa-11077	571	8	)	)	PUNCT
ajfa-11077	571	9	,	,	PUNCT
ajfa-11077	571	10	8	8	NUM
ajfa-11077	571	11	-	-	SYM
ajfa-11077	571	12	17	17	NUM
ajfa-11077	571	13	.	.	PUNCT
ajfa-11077	572	1	https://doi.org/10.1111/j.1745-6622.2005.00042.x	https://doi.org/10.1111/j.1745-6622.2005.00042.x	PROPN
ajfa-11077	572	2	.	.	PUNCT
ajfa-11077	573	1	tsay	tsay	PROPN
ajfa-11077	573	2	,	,	PUNCT
ajfa-11077	573	3	r.s	r.s	PROPN
ajfa-11077	573	4	.	.	PROPN
ajfa-11077	573	5	(	(	PUNCT
ajfa-11077	573	6	2005	2005	NUM
ajfa-11077	573	7	)	)	PUNCT
ajfa-11077	573	8	.	.	PUNCT
ajfa-11077	574	1	analysis	analysis	NOUN
ajfa-11077	574	2	of	of	ADP
ajfa-11077	574	3	financial	financial	ADJ
ajfa-11077	574	4	time	time	NOUN
ajfa-11077	574	5	series	series	NOUN
ajfa-11077	574	6	,	,	PUNCT
ajfa-11077	574	7	second	second	ADJ
ajfa-11077	574	8	edition	edition	NOUN
ajfa-11077	574	9	.	.	PUNCT
ajfa-11077	575	1	john	john	PROPN
ajfa-11077	575	2	wiley	wiley	PROPN
ajfa-11077	575	3	&	&	CCONJ
ajfa-11077	575	4	sons	sons	PROPN
ajfa-11077	575	5	,	,	PUNCT
ajfa-11077	575	6	inc	inc	PROPN
ajfa-11077	575	7	.	.	PROPN
ajfa-11077	575	8	isbn-13	isbn-13	PROPN
ajfa-11077	575	9	:	:	PUNCT
ajfa-11077	575	10	978	978	NUM
ajfa-11077	575	11	-	-	SYM
ajfa-11077	575	12	0	0	NUM
ajfa-11077	575	13	-	-	PUNCT
ajfa-11077	575	14	471	471	NUM
ajfa-11077	575	15	-	-	PUNCT
ajfa-11077	575	16	74618	74618	NUM
ajfa-11077	575	17	-	-	SYM
ajfa-11077	575	18	8	8	NUM
ajfa-11077	575	19	.	.	PUNCT
ajfa-11077	576	1	wei	wei	PROPN
ajfa-11077	576	2	,	,	PUNCT
ajfa-11077	576	3	w.	w.	PROPN
ajfa-11077	576	4	w.s	w.s	PROPN
ajfa-11077	576	5	.	.	PUNCT
ajfa-11077	576	6	(	(	PUNCT
ajfa-11077	576	7	2006	2006	NUM
ajfa-11077	576	8	)	)	PUNCT
ajfa-11077	576	9	.	.	PUNCT
ajfa-11077	577	1	time	time	NOUN
ajfa-11077	577	2	series	series	PROPN
ajfa-11077	577	3	analysis	analysis	NOUN
ajfa-11077	577	4	:	:	PUNCT
ajfa-11077	577	5	univariate	univariate	ADJ
ajfa-11077	577	6	and	and	CCONJ
ajfa-11077	577	7	multivariate	multivariate	NOUN
ajfa-11077	577	8	methods	method	NOUN
ajfa-11077	577	9	,	,	PUNCT
ajfa-11077	577	10	second	second	ADJ
ajfa-11077	577	11	edition	edition	NOUN
ajfa-11077	577	12	.	.	PUNCT
ajfa-11077	578	1	addison	addison	PROPN
ajfa-11077	578	2	-	-	PUNCT
ajfa-11077	578	3	wesley	wesley	PROPN
ajfa-11077	578	4	.	.	PUNCT
ajfa-11077	579	1	isbn-13	isbn-13	PROPN
ajfa-11077	579	2	:	:	PUNCT
ajfa-11077	579	3	978	978	NUM
ajfa-11077	579	4	-	-	SYM
ajfa-11077	579	5	0321322166	0321322166	NUM
ajfa-11077	579	6	.	.	PUNCT
ajfa-11077	580	1	witt	witt	PROPN
ajfa-11077	580	2	,	,	PUNCT
ajfa-11077	580	3	s.	s.	PROPN
ajfa-11077	580	4	f.	f.	PROPN
ajfa-11077	580	5	,	,	PUNCT
ajfa-11077	580	6	&	&	CCONJ
ajfa-11077	580	7	c.	c.	PROPN
ajfa-11077	580	8	witt	witt	PROPN
ajfa-11077	580	9	.	.	PUNCT
ajfa-11077	581	1	(	(	PUNCT
ajfa-11077	581	2	1992	1992	NUM
ajfa-11077	581	3	)	)	PUNCT
ajfa-11077	581	4	.	.	PUNCT
ajfa-11077	582	1	modeling	modeling	NOUN
ajfa-11077	582	2	and	and	CCONJ
ajfa-11077	582	3	forecasting	forecasting	NOUN
ajfa-11077	582	4	demand	demand	NOUN
ajfa-11077	582	5	in	in	ADP
ajfa-11077	582	6	tourism	tourism	NOUN
ajfa-11077	582	7	.	.	PUNCT
ajfa-11077	583	1	academic	academic	ADJ
ajfa-11077	583	2	press	press	NOUN
ajfa-11077	583	3	,	,	PUNCT
ajfa-11077	583	4	london.isbn	london.isbn	NOUN
ajfa-11077	583	5	:	:	PUNCT
ajfa-11077	583	6	0	0	NUM
ajfa-11077	583	7	-	-	SYM
ajfa-11077	583	8	127	127	NUM
ajfa-11077	583	9	-	-	PUNCT
ajfa-11077	583	10	60740	60740	NUM
ajfa-11077	583	11	-	-	PUNCT
ajfa-11077	583	12	4	4	NUM
ajfa-11077	583	13	.	.	PUNCT
ajfa-11077	583	14	witt	witt	PROPN
ajfa-11077	583	15	,	,	PUNCT
ajfa-11077	583	16	s.	s.	PROPN
ajfa-11077	583	17	f.	f.	PROPN
ajfa-11077	583	18	,	,	PUNCT
ajfa-11077	583	19	&	&	CCONJ
ajfa-11077	583	20	c.	c.	PROPN
ajfa-11077	583	21	witt	witt	PROPN
ajfa-11077	583	22	.	.	PUNCT
ajfa-11077	584	1	(	(	PUNCT
ajfa-11077	584	2	1995	1995	NUM
ajfa-11077	584	3	)	)	PUNCT
ajfa-11077	584	4	.	.	PUNCT
ajfa-11077	585	1	forecasting	forecast	VERB
ajfa-11077	585	2	tourism	tourism	NOUN
ajfa-11077	585	3	demand	demand	NOUN
ajfa-11077	585	4	:	:	PUNCT
ajfa-11077	585	5	a	a	DET
ajfa-11077	585	6	review	review	NOUN
ajfa-11077	585	7	of	of	ADP
ajfa-11077	585	8	empirical	empirical	ADJ
ajfa-11077	585	9	research	research	NOUN
ajfa-11077	585	10	.	.	PUNCT
ajfa-11077	586	1	international	international	ADJ
ajfa-11077	586	2	journal	journal	PROPN
ajfa-11077	586	3	of	of	ADP
ajfa-11077	586	4	forecasting	forecasting	NOUN
ajfa-11077	586	5	,	,	PUNCT
ajfa-11077	586	6	11(3	11(3	NUM
ajfa-11077	586	7	)	)	PUNCT
ajfa-11077	586	8	,	,	PUNCT
ajfa-11077	586	9	447	447	NUM
ajfa-11077	586	10	-	-	SYM
ajfa-11077	586	11	475	475	NUM
ajfa-11077	586	12	.	.	PUNCT
ajfa-11077	587	1	https://doi.org/10.1016/0169-2070(95)00591-7	https://doi.org/10.1016/0169-2070(95)00591-7	NOUN
ajfa-11077	587	2	.	.	PUNCT