id	sid	tid	token	lemma	pos
ajfa-15215	1	1	microsoft	microsoft	PROPN
ajfa-15215	1	2	word	word	NOUN
ajfa-15215	1	3	15215	15215	NUM
ajfa-15215	1	4	-	-	SYM
ajfa-15215	1	5	54850	54850	NUM
ajfa-15215	1	6	-	-	PUNCT
ajfa-15215	1	7	1	1	NUM
ajfa-15215	1	8	-	-	PUNCT
ajfa-15215	1	9	sm	sm	NOUN
ajfa-15215	1	10	-	-	PUNCT
ajfa-15215	1	11	writer2	writer2	VERB
ajfa-15215	1	12	-	-	ADJ
ajfa-15215	1	13	new	new	ADJ
ajfa-15215	1	14	asian	asian	ADJ
ajfa-15215	1	15	journal	journal	NOUN
ajfa-15215	1	16	of	of	ADP
ajfa-15215	1	17	finance	finance	PROPN
ajfa-15215	1	18	&	&	CCONJ
ajfa-15215	1	19	accounting	accounting	PROPN
ajfa-15215	1	20	issn	issn	PROPN
ajfa-15215	1	21	1946	1946	NUM
ajfa-15215	1	22	-	-	PUNCT
ajfa-15215	1	23	052x	052x	PROPN
ajfa-15215	1	24	2019	2019	NUM
ajfa-15215	1	25	,	,	PUNCT
ajfa-15215	1	26	vol	vol	NOUN
ajfa-15215	1	27	.	.	PROPN
ajfa-15215	1	28	11	11	NUM
ajfa-15215	1	29	,	,	PUNCT
ajfa-15215	1	30	no	no	INTJ
ajfa-15215	1	31	.	.	NOUN
ajfa-15215	1	32	2	2	NUM
ajfa-15215	1	33	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	1	34	42	42	NUM
ajfa-15215	1	35	explaining	explain	VERB
ajfa-15215	1	36	value	value	NOUN
ajfa-15215	1	37	vs.	vs.	ADP
ajfa-15215	1	38	growth	growth	NOUN
ajfa-15215	1	39	fallacy	fallacy	NOUN
ajfa-15215	1	40	:	:	PUNCT
ajfa-15215	1	41	an	an	DET
ajfa-15215	1	42	empirical	empirical	ADJ
ajfa-15215	1	43	study	study	NOUN
ajfa-15215	1	44	for	for	ADP
ajfa-15215	1	45	indian	indian	PROPN
ajfa-15215	1	46	market	market	PROPN
ajfa-15215	1	47	dr	dr	PROPN
ajfa-15215	1	48	.	.	PROPN
ajfa-15215	1	49	vibhuti	vibhuti	PROPN
ajfa-15215	1	50	vasishth	vasishth	VERB
ajfa-15215	1	51	assistant	assistant	PROPN
ajfa-15215	1	52	professor	professor	PROPN
ajfa-15215	1	53	department	department	PROPN
ajfa-15215	1	54	of	of	ADP
ajfa-15215	1	55	commerce	commerce	PROPN
ajfa-15215	1	56	,	,	PUNCT
ajfa-15215	1	57	kamala	kamala	PROPN
ajfa-15215	1	58	nehru	nehru	PROPN
ajfa-15215	1	59	college	college	PROPN
ajfa-15215	1	60	,	,	PUNCT
ajfa-15215	1	61	university	university	PROPN
ajfa-15215	1	62	of	of	ADP
ajfa-15215	1	63	delhi	delhi	PROPN
ajfa-15215	1	64	prof	prof	PROPN
ajfa-15215	1	65	.	.	PUNCT
ajfa-15215	2	1	sanjay	sanjay	PROPN
ajfa-15215	2	2	sehgal	sehgal	PROPN
ajfa-15215	2	3	professor	professor	PROPN
ajfa-15215	2	4	department	department	PROPN
ajfa-15215	2	5	of	of	ADP
ajfa-15215	2	6	financial	financial	ADJ
ajfa-15215	2	7	studies	study	NOUN
ajfa-15215	2	8	,	,	PUNCT
ajfa-15215	2	9	university	university	PROPN
ajfa-15215	2	10	of	of	ADP
ajfa-15215	2	11	delhi	delhi	PROPN
ajfa-15215	2	12	received	receive	VERB
ajfa-15215	2	13	:	:	PUNCT
ajfa-15215	2	14	august	august	PROPN
ajfa-15215	2	15	5	5	NUM
ajfa-15215	2	16	,	,	PUNCT
ajfa-15215	2	17	2019	2019	NUM
ajfa-15215	2	18	accepted	accept	VERB
ajfa-15215	2	19	:	:	PUNCT
ajfa-15215	2	20	sep	sep	PROPN
ajfa-15215	2	21	19	19	NUM
ajfa-15215	2	22	,	,	PUNCT
ajfa-15215	2	23	2019	2019	NUM
ajfa-15215	2	24	published	publish	VERB
ajfa-15215	2	25	:	:	PUNCT
ajfa-15215	2	26	december	december	PROPN
ajfa-15215	2	27	1	1	NUM
ajfa-15215	2	28	,	,	PUNCT
ajfa-15215	2	29	2019	2019	NUM
ajfa-15215	2	30	doi:10.5296	doi:10.5296	NOUN
ajfa-15215	2	31	/	/	SYM
ajfa-15215	2	32	ajfa.v11i2.15215	ajfa.v11i2.15215	VERB
ajfa-15215	2	33	url	url	PROPN
ajfa-15215	2	34	:	:	PUNCT
ajfa-15215	2	35	https://doi.org/10.5296/ajfa.v11i2.15215	https://doi.org/10.5296/ajfa.v11i2.15215	VERB
ajfa-15215	2	36	abstract	abstract	ADJ
ajfa-15215	2	37	prior	prior	ADJ
ajfa-15215	2	38	research	research	NOUN
ajfa-15215	2	39	describes	describe	VERB
ajfa-15215	2	40	value	value	NOUN
ajfa-15215	2	41	and	and	CCONJ
ajfa-15215	2	42	growth	growth	NOUN
ajfa-15215	2	43	characteristics	characteristic	NOUN
ajfa-15215	2	44	on	on	ADP
ajfa-15215	2	45	the	the	DET
ajfa-15215	2	46	same	same	ADJ
ajfa-15215	2	47	continuum	continuum	NOUN
ajfa-15215	2	48	.	.	PUNCT
ajfa-15215	3	1	we	we	PRON
ajfa-15215	3	2	attempt	attempt	VERB
ajfa-15215	3	3	to	to	PART
ajfa-15215	3	4	test	test	VERB
ajfa-15215	3	5	this	this	PRON
ajfa-15215	3	6	for	for	ADP
ajfa-15215	3	7	the	the	DET
ajfa-15215	3	8	indian	indian	ADJ
ajfa-15215	3	9	market	market	NOUN
ajfa-15215	3	10	.	.	PUNCT
ajfa-15215	4	1	similar	similar	ADJ
ajfa-15215	4	2	to	to	ADP
ajfa-15215	4	3	past	past	ADJ
ajfa-15215	4	4	studies	study	NOUN
ajfa-15215	4	5	,	,	PUNCT
ajfa-15215	4	6	our	our	PRON
ajfa-15215	4	7	results	result	NOUN
ajfa-15215	4	8	confirm	confirm	VERB
ajfa-15215	4	9	the	the	DET
ajfa-15215	4	10	presence	presence	NOUN
ajfa-15215	4	11	of	of	ADP
ajfa-15215	4	12	value	value	NOUN
ajfa-15215	4	13	premium	premium	NOUN
ajfa-15215	4	14	.	.	PUNCT
ajfa-15215	5	1	but	but	CCONJ
ajfa-15215	5	2	unlike	unlike	ADP
ajfa-15215	5	3	previous	previous	ADJ
ajfa-15215	5	4	literature	literature	NOUN
ajfa-15215	5	5	,	,	PUNCT
ajfa-15215	5	6	superior	superior	ADJ
ajfa-15215	5	7	profits	profit	NOUN
ajfa-15215	5	8	in	in	ADP
ajfa-15215	5	9	growth	growth	NOUN
ajfa-15215	5	10	strategy	strategy	NOUN
ajfa-15215	5	11	are	be	AUX
ajfa-15215	5	12	also	also	ADV
ajfa-15215	5	13	observed	observe	VERB
ajfa-15215	5	14	.	.	PUNCT
ajfa-15215	6	1	this	this	PRON
ajfa-15215	6	2	leads	lead	VERB
ajfa-15215	6	3	us	we	PRON
ajfa-15215	6	4	to	to	PART
ajfa-15215	6	5	believe	believe	VERB
ajfa-15215	6	6	that	that	PRON
ajfa-15215	6	7	value	value	NOUN
ajfa-15215	6	8	and	and	CCONJ
ajfa-15215	6	9	growth	growth	NOUN
ajfa-15215	6	10	are	be	AUX
ajfa-15215	6	11	different	different	ADJ
ajfa-15215	6	12	dimensions	dimension	NOUN
ajfa-15215	6	13	.	.	PUNCT
ajfa-15215	7	1	value	value	NOUN
ajfa-15215	7	2	premium	premium	NOUN
ajfa-15215	7	3	may	may	AUX
ajfa-15215	7	4	be	be	AUX
ajfa-15215	7	5	explained	explain	VERB
ajfa-15215	7	6	by	by	ADP
ajfa-15215	7	7	investor	investor	NOUN
ajfa-15215	7	8	overreaction	overreaction	NOUN
ajfa-15215	7	9	.	.	PUNCT
ajfa-15215	8	1	whereas	whereas	SCONJ
ajfa-15215	8	2	,	,	PUNCT
ajfa-15215	8	3	growth	growth	NOUN
ajfa-15215	8	4	premium	premium	NOUN
ajfa-15215	8	5	arises	arise	VERB
ajfa-15215	8	6	due	due	ADJ
ajfa-15215	8	7	to	to	ADP
ajfa-15215	8	8	future	future	ADJ
ajfa-15215	8	9	growth	growth	NOUN
ajfa-15215	8	10	potential	potential	NOUN
ajfa-15215	8	11	of	of	ADP
ajfa-15215	8	12	high	high	ADJ
ajfa-15215	8	13	growth	growth	NOUN
ajfa-15215	8	14	stocks	stock	NOUN
ajfa-15215	8	15	.	.	PUNCT
ajfa-15215	9	1	negative	negative	ADJ
ajfa-15215	9	2	correlation	correlation	NOUN
ajfa-15215	9	3	is	be	AUX
ajfa-15215	9	4	observed	observe	VERB
ajfa-15215	9	5	between	between	ADP
ajfa-15215	9	6	value	value	NOUN
ajfa-15215	9	7	and	and	CCONJ
ajfa-15215	9	8	growth	growth	NOUN
ajfa-15215	9	9	premiums	premium	NOUN
ajfa-15215	9	10	which	which	PRON
ajfa-15215	9	11	can	can	AUX
ajfa-15215	9	12	be	be	AUX
ajfa-15215	9	13	used	use	VERB
ajfa-15215	9	14	by	by	ADP
ajfa-15215	9	15	investors	investor	NOUN
ajfa-15215	9	16	for	for	ADP
ajfa-15215	9	17	achieving	achieve	VERB
ajfa-15215	9	18	time	time	NOUN
ajfa-15215	9	19	diversification	diversification	NOUN
ajfa-15215	9	20	.	.	PUNCT
ajfa-15215	10	1	we	we	PRON
ajfa-15215	10	2	find	find	VERB
ajfa-15215	10	3	that	that	SCONJ
ajfa-15215	10	4	higher	high	ADJ
ajfa-15215	10	5	profits	profit	NOUN
ajfa-15215	10	6	can	can	AUX
ajfa-15215	10	7	be	be	AUX
ajfa-15215	10	8	achieved	achieve	VERB
ajfa-15215	10	9	by	by	ADP
ajfa-15215	10	10	combining	combine	VERB
ajfa-15215	10	11	value	value	NOUN
ajfa-15215	10	12	and	and	CCONJ
ajfa-15215	10	13	growth	growth	NOUN
ajfa-15215	10	14	.	.	PUNCT
ajfa-15215	11	1	the	the	DET
ajfa-15215	11	2	returns	return	NOUN
ajfa-15215	11	3	on	on	ADP
ajfa-15215	11	4	univariate	univariate	ADJ
ajfa-15215	11	5	value	value	NOUN
ajfa-15215	11	6	or	or	CCONJ
ajfa-15215	11	7	growth	growth	NOUN
ajfa-15215	11	8	strategies	strategy	NOUN
ajfa-15215	11	9	are	be	AUX
ajfa-15215	11	10	explained	explain	VERB
ajfa-15215	11	11	by	by	ADP
ajfa-15215	11	12	either	either	CCONJ
ajfa-15215	11	13	capital	capital	NOUN
ajfa-15215	11	14	asset	asset	NOUN
ajfa-15215	11	15	pricing	pricing	NOUN
ajfa-15215	11	16	model	model	NOUN
ajfa-15215	11	17	or	or	CCONJ
ajfa-15215	11	18	fama	fama	NOUN
ajfa-15215	11	19	-	-	PUNCT
ajfa-15215	11	20	french	french	ADJ
ajfa-15215	11	21	three	three	NUM
ajfa-15215	11	22	factor	factor	NOUN
ajfa-15215	11	23	model	model	NOUN
ajfa-15215	11	24	.	.	PUNCT
ajfa-15215	12	1	the	the	DET
ajfa-15215	12	2	returns	return	NOUN
ajfa-15215	12	3	on	on	ADP
ajfa-15215	12	4	bivariate	bivariate	ADJ
ajfa-15215	12	5	strategies	strategy	NOUN
ajfa-15215	12	6	based	base	VERB
ajfa-15215	12	7	on	on	ADP
ajfa-15215	12	8	both	both	DET
ajfa-15215	12	9	value	value	NOUN
ajfa-15215	12	10	and	and	CCONJ
ajfa-15215	12	11	growth	growth	NOUN
ajfa-15215	12	12	remain	remain	VERB
ajfa-15215	12	13	unexplained	unexplained	ADJ
ajfa-15215	12	14	even	even	ADV
ajfa-15215	12	15	by	by	ADP
ajfa-15215	12	16	fama	fama	PROPN
ajfa-15215	12	17	-	-	PUNCT
ajfa-15215	12	18	french	french	ADJ
ajfa-15215	12	19	five	five	NUM
ajfa-15215	12	20	factor	factor	NOUN
ajfa-15215	12	21	model	model	NOUN
ajfa-15215	12	22	.	.	PUNCT
ajfa-15215	13	1	the	the	DET
ajfa-15215	13	2	study	study	NOUN
ajfa-15215	13	3	contributes	contribute	VERB
ajfa-15215	13	4	to	to	ADP
ajfa-15215	13	5	existing	exist	VERB
ajfa-15215	13	6	literature	literature	NOUN
ajfa-15215	13	7	in	in	ADP
ajfa-15215	13	8	the	the	DET
ajfa-15215	13	9	following	following	ADJ
ajfa-15215	13	10	ways	way	NOUN
ajfa-15215	13	11	:	:	PUNCT
ajfa-15215	14	1	1	1	X
ajfa-15215	14	2	.	.	X
ajfa-15215	14	3	it	it	PRON
ajfa-15215	14	4	highlights	highlight	VERB
ajfa-15215	14	5	the	the	DET
ajfa-15215	14	6	role	role	NOUN
ajfa-15215	14	7	of	of	ADP
ajfa-15215	14	8	both	both	DET
ajfa-15215	14	9	value	value	NOUN
ajfa-15215	14	10	and	and	CCONJ
ajfa-15215	14	11	growth	growth	NOUN
ajfa-15215	14	12	attributes	attribute	VERB
ajfa-15215	14	13	in	in	ADP
ajfa-15215	14	14	portfolio	portfolio	NOUN
ajfa-15215	14	15	construction	construction	NOUN
ajfa-15215	14	16	.	.	PUNCT
ajfa-15215	15	1	2	2	X
ajfa-15215	15	2	.	.	NOUN
ajfa-15215	15	3	time	time	NOUN
ajfa-15215	15	4	diversification	diversification	NOUN
ajfa-15215	15	5	is	be	AUX
ajfa-15215	15	6	important	important	ADJ
ajfa-15215	15	7	for	for	ADP
ajfa-15215	15	8	achieving	achieve	VERB
ajfa-15215	15	9	higher	high	ADJ
ajfa-15215	15	10	risk	risk	NOUN
ajfa-15215	15	11	adjusted	adjust	VERB
ajfa-15215	15	12	return	return	NOUN
ajfa-15215	15	13	.	.	PUNCT
ajfa-15215	16	1	the	the	DET
ajfa-15215	16	2	findings	finding	NOUN
ajfa-15215	16	3	shall	shall	AUX
ajfa-15215	16	4	be	be	AUX
ajfa-15215	16	5	pertinent	pertinent	ADJ
ajfa-15215	16	6	for	for	ADP
ajfa-15215	16	7	portfolio	portfolio	NOUN
ajfa-15215	16	8	managers	manager	NOUN
ajfa-15215	16	9	,	,	PUNCT
ajfa-15215	16	10	market	market	NOUN
ajfa-15215	16	11	regulators	regulator	NOUN
ajfa-15215	16	12	and	and	CCONJ
ajfa-15215	16	13	the	the	DET
ajfa-15215	16	14	academic	academic	ADJ
ajfa-15215	16	15	community	community	NOUN
ajfa-15215	16	16	.	.	PUNCT
ajfa-15215	17	1	keywords	keyword	NOUN
ajfa-15215	17	2	:	:	PUNCT
ajfa-15215	17	3	asset	asset	NOUN
ajfa-15215	17	4	pricing	pricing	NOUN
ajfa-15215	17	5	,	,	PUNCT
ajfa-15215	17	6	value	value	NOUN
ajfa-15215	17	7	strategy	strategy	NOUN
ajfa-15215	17	8	,	,	PUNCT
ajfa-15215	17	9	growth	growth	NOUN
ajfa-15215	17	10	strategy	strategy	NOUN
ajfa-15215	17	11	,	,	PUNCT
ajfa-15215	17	12	investor	investor	NOUN
ajfa-15215	17	13	overreaction	overreaction	NOUN
ajfa-15215	17	14	,	,	PUNCT
ajfa-15215	17	15	time	time	NOUN
ajfa-15215	17	16	diversification	diversification	NOUN
ajfa-15215	17	17	asian	asian	ADJ
ajfa-15215	17	18	journal	journal	NOUN
ajfa-15215	17	19	of	of	ADP
ajfa-15215	17	20	finance	finance	PROPN
ajfa-15215	17	21	&	&	CCONJ
ajfa-15215	17	22	accounting	accounting	PROPN
ajfa-15215	17	23	issn	issn	PROPN
ajfa-15215	17	24	1946	1946	NUM
ajfa-15215	17	25	-	-	PUNCT
ajfa-15215	17	26	052x	052x	PROPN
ajfa-15215	17	27	2019	2019	NUM
ajfa-15215	17	28	,	,	PUNCT
ajfa-15215	17	29	vol	vol	NOUN
ajfa-15215	17	30	.	.	PROPN
ajfa-15215	17	31	11	11	NUM
ajfa-15215	17	32	,	,	PUNCT
ajfa-15215	17	33	no	no	INTJ
ajfa-15215	17	34	.	.	NOUN
ajfa-15215	17	35	2	2	NUM
ajfa-15215	17	36	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	17	37	43	43	NUM
ajfa-15215	17	38	1	1	NUM
ajfa-15215	17	39	.	.	PUNCT
ajfa-15215	18	1	introduction	introduction	NOUN
ajfa-15215	18	2	security	security	NOUN
ajfa-15215	18	3	markets	market	NOUN
ajfa-15215	18	4	across	across	ADP
ajfa-15215	18	5	the	the	DET
ajfa-15215	18	6	world	world	NOUN
ajfa-15215	18	7	have	have	AUX
ajfa-15215	18	8	confirmed	confirm	VERB
ajfa-15215	18	9	the	the	DET
ajfa-15215	18	10	existence	existence	NOUN
ajfa-15215	18	11	of	of	ADP
ajfa-15215	18	12	value	value	NOUN
ajfa-15215	18	13	anomaly	anomaly	NOUN
ajfa-15215	18	14	.	.	PUNCT
ajfa-15215	19	1	it	it	PRON
ajfa-15215	19	2	has	have	AUX
ajfa-15215	19	3	been	be	AUX
ajfa-15215	19	4	observed	observe	VERB
ajfa-15215	19	5	in	in	ADP
ajfa-15215	19	6	various	various	ADJ
ajfa-15215	19	7	markets	market	NOUN
ajfa-15215	19	8	that	that	PRON
ajfa-15215	19	9	stocks	stock	NOUN
ajfa-15215	19	10	with	with	ADP
ajfa-15215	19	11	low	low	ADJ
ajfa-15215	19	12	market	market	NOUN
ajfa-15215	19	13	price	price	NOUN
ajfa-15215	19	14	-	-	PUNCT
ajfa-15215	19	15	to	to	ADP
ajfa-15215	19	16	-	-	PUNCT
ajfa-15215	19	17	book	book	NOUN
ajfa-15215	19	18	value	value	NOUN
ajfa-15215	19	19	(	(	PUNCT
ajfa-15215	19	20	p	p	NOUN
ajfa-15215	19	21	/	/	SYM
ajfa-15215	19	22	b	b	NOUN
ajfa-15215	19	23	)	)	PUNCT
ajfa-15215	19	24	ratio	ratio	NOUN
ajfa-15215	19	25	or	or	CCONJ
ajfa-15215	19	26	low	low	ADJ
ajfa-15215	19	27	market	market	NOUN
ajfa-15215	19	28	price	price	NOUN
ajfa-15215	19	29	-	-	PUNCT
ajfa-15215	19	30	to	to	ADP
ajfa-15215	19	31	-	-	PUNCT
ajfa-15215	19	32	earnings	earning	NOUN
ajfa-15215	19	33	ratio	ratio	NOUN
ajfa-15215	19	34	(	(	PUNCT
ajfa-15215	19	35	p	p	X
ajfa-15215	19	36	/	/	SYM
ajfa-15215	19	37	e	e	NOUN
ajfa-15215	19	38	)	)	PUNCT
ajfa-15215	19	39	have	have	AUX
ajfa-15215	19	40	outperformed	outperform	VERB
ajfa-15215	19	41	stocks	stock	NOUN
ajfa-15215	19	42	with	with	ADP
ajfa-15215	19	43	higher	high	ADJ
ajfa-15215	19	44	p	p	NOUN
ajfa-15215	19	45	/	/	SYM
ajfa-15215	19	46	b	b	NOUN
ajfa-15215	19	47	and	and	CCONJ
ajfa-15215	19	48	p	p	NOUN
ajfa-15215	19	49	/	/	SYM
ajfa-15215	19	50	e	e	NOUN
ajfa-15215	19	51	ratio	ratio	NOUN
ajfa-15215	19	52	.	.	PUNCT
ajfa-15215	20	1	past	past	ADP
ajfa-15215	20	2	literature	literature	NOUN
ajfa-15215	20	3	documents	document	NOUN
ajfa-15215	20	4	various	various	ADJ
ajfa-15215	20	5	reasons	reason	NOUN
ajfa-15215	20	6	in	in	ADP
ajfa-15215	20	7	support	support	NOUN
ajfa-15215	20	8	of	of	ADP
ajfa-15215	20	9	this	this	DET
ajfa-15215	20	10	evidence	evidence	NOUN
ajfa-15215	20	11	.	.	PUNCT
ajfa-15215	21	1	basu	basu	PROPN
ajfa-15215	21	2	(	(	PUNCT
ajfa-15215	21	3	1977	1977	NUM
ajfa-15215	21	4	)	)	PUNCT
ajfa-15215	21	5	documents	document	NOUN
ajfa-15215	21	6	that	that	PRON
ajfa-15215	21	7	low	low	VERB
ajfa-15215	21	8	p	p	X
ajfa-15215	21	9	/	/	SYM
ajfa-15215	21	10	e	e	NOUN
ajfa-15215	21	11	stocks	stock	NOUN
ajfa-15215	21	12	outperform	outperform	VERB
ajfa-15215	21	13	high	high	ADJ
ajfa-15215	21	14	p	p	X
ajfa-15215	21	15	/	/	SYM
ajfa-15215	21	16	e	e	NOUN
ajfa-15215	21	17	stocks	stock	NOUN
ajfa-15215	21	18	.	.	PUNCT
ajfa-15215	22	1	this	this	PRON
ajfa-15215	22	2	proves	prove	VERB
ajfa-15215	22	3	semi	semi	ADJ
ajfa-15215	22	4	-	-	ADJ
ajfa-15215	22	5	strong	strong	ADJ
ajfa-15215	22	6	form	form	NOUN
ajfa-15215	22	7	of	of	ADP
ajfa-15215	22	8	inefficiency	inefficiency	NOUN
ajfa-15215	22	9	in	in	ADP
ajfa-15215	22	10	markets	market	NOUN
ajfa-15215	22	11	where	where	SCONJ
ajfa-15215	22	12	publicly	publicly	ADV
ajfa-15215	22	13	available	available	ADJ
ajfa-15215	22	14	p	p	X
ajfa-15215	22	15	/	/	SYM
ajfa-15215	22	16	e	e	NOUN
ajfa-15215	22	17	does	do	AUX
ajfa-15215	22	18	not	not	PART
ajfa-15215	22	19	reflect	reflect	VERB
ajfa-15215	22	20	the	the	DET
ajfa-15215	22	21	entire	entire	ADJ
ajfa-15215	22	22	information	information	NOUN
ajfa-15215	22	23	.	.	PUNCT
ajfa-15215	23	1	stattman	stattman	NOUN
ajfa-15215	23	2	(	(	PUNCT
ajfa-15215	23	3	1980	1980	NUM
ajfa-15215	23	4	)	)	PUNCT
ajfa-15215	23	5	confirmed	confirm	VERB
ajfa-15215	23	6	the	the	DET
ajfa-15215	23	7	existence	existence	NOUN
ajfa-15215	23	8	of	of	ADP
ajfa-15215	23	9	value	value	NOUN
ajfa-15215	23	10	effect	effect	NOUN
ajfa-15215	23	11	with	with	ADP
ajfa-15215	23	12	book	book	NOUN
ajfa-15215	23	13	-	-	PUNCT
ajfa-15215	23	14	to	to	ADP
ajfa-15215	23	15	-	-	PUNCT
ajfa-15215	23	16	market	market	NOUN
ajfa-15215	23	17	(	(	PUNCT
ajfa-15215	23	18	b	b	NOUN
ajfa-15215	23	19	/	/	SYM
ajfa-15215	23	20	m	m	NOUN
ajfa-15215	23	21	)	)	PUNCT
ajfa-15215	23	22	ratio	ratio	NOUN
ajfa-15215	23	23	.	.	PUNCT
ajfa-15215	24	1	he	he	PRON
ajfa-15215	24	2	concludes	conclude	VERB
ajfa-15215	24	3	that	that	SCONJ
ajfa-15215	24	4	stocks	stock	NOUN
ajfa-15215	24	5	with	with	ADP
ajfa-15215	24	6	high	high	ADJ
ajfa-15215	24	7	b	b	PROPN
ajfa-15215	24	8	/	/	SYM
ajfa-15215	24	9	m	m	PROPN
ajfa-15215	24	10	ratios	ratio	NOUN
ajfa-15215	24	11	outperform	outperform	VERB
ajfa-15215	24	12	stocks	stock	NOUN
ajfa-15215	24	13	with	with	ADP
ajfa-15215	24	14	lower	low	ADJ
ajfa-15215	24	15	b	b	NOUN
ajfa-15215	24	16	/	/	SYM
ajfa-15215	24	17	m	m	NOUN
ajfa-15215	24	18	ratio	ratio	NOUN
ajfa-15215	24	19	.	.	PUNCT
ajfa-15215	25	1	[	[	X
ajfa-15215	25	2	1	1	X
ajfa-15215	25	3	]	]	X
ajfa-15215	25	4	basu	basu	PROPN
ajfa-15215	25	5	(	(	PUNCT
ajfa-15215	25	6	1983	1983	NUM
ajfa-15215	25	7	)	)	PUNCT
ajfa-15215	25	8	further	further	ADJ
ajfa-15215	25	9	evaluates	evaluate	NOUN
ajfa-15215	25	10	if	if	SCONJ
ajfa-15215	25	11	value	value	NOUN
ajfa-15215	25	12	effect	effect	NOUN
ajfa-15215	25	13	is	be	AUX
ajfa-15215	25	14	dependent	dependent	ADJ
ajfa-15215	25	15	on	on	ADP
ajfa-15215	25	16	firm	firm	ADJ
ajfa-15215	25	17	size	size	NOUN
ajfa-15215	25	18	.	.	PUNCT
ajfa-15215	26	1	his	his	PRON
ajfa-15215	26	2	results	result	NOUN
ajfa-15215	26	3	conclude	conclude	VERB
ajfa-15215	26	4	the	the	DET
ajfa-15215	26	5	existence	existence	NOUN
ajfa-15215	26	6	of	of	ADP
ajfa-15215	26	7	this	this	DET
ajfa-15215	26	8	effect	effect	NOUN
ajfa-15215	26	9	even	even	ADV
ajfa-15215	26	10	after	after	ADP
ajfa-15215	26	11	controlling	control	VERB
ajfa-15215	26	12	for	for	ADP
ajfa-15215	26	13	differences	difference	NOUN
ajfa-15215	26	14	in	in	ADP
ajfa-15215	26	15	firm	firm	ADJ
ajfa-15215	26	16	size	size	NOUN
ajfa-15215	26	17	.	.	PUNCT
ajfa-15215	27	1	outperformance	outperformance	NOUN
ajfa-15215	27	2	of	of	ADP
ajfa-15215	27	3	growth	growth	NOUN
ajfa-15215	27	4	stocks	stock	NOUN
ajfa-15215	27	5	(	(	PUNCT
ajfa-15215	27	6	low	low	PROPN
ajfa-15215	27	7	b	b	PROPN
ajfa-15215	27	8	/	/	SYM
ajfa-15215	27	9	m	m	VERB
ajfa-15215	27	10	)	)	PUNCT
ajfa-15215	27	11	by	by	ADP
ajfa-15215	27	12	value	value	NOUN
ajfa-15215	27	13	stocks	stock	NOUN
ajfa-15215	27	14	(	(	PUNCT
ajfa-15215	27	15	high	high	PROPN
ajfa-15215	27	16	b	b	PROPN
ajfa-15215	27	17	/	/	SYM
ajfa-15215	27	18	m	m	VERB
ajfa-15215	27	19	)	)	PUNCT
ajfa-15215	27	20	is	be	AUX
ajfa-15215	27	21	also	also	ADV
ajfa-15215	27	22	confirmed	confirm	VERB
ajfa-15215	27	23	by	by	ADP
ajfa-15215	27	24	rosenberg	rosenberg	PROPN
ajfa-15215	27	25	,	,	PUNCT
ajfa-15215	27	26	reid	reid	PROPN
ajfa-15215	27	27	and	and	CCONJ
ajfa-15215	27	28	lanstein	lanstein	ADJ
ajfa-15215	27	29	(	(	PUNCT
ajfa-15215	27	30	1985	1985	NUM
ajfa-15215	27	31	)	)	PUNCT
ajfa-15215	27	32	;	;	PUNCT
ajfa-15215	27	33	and	and	CCONJ
ajfa-15215	27	34	chan	chan	PROPN
ajfa-15215	27	35	,	,	PUNCT
ajfa-15215	27	36	hamao	hamao	ADJ
ajfa-15215	27	37	and	and	CCONJ
ajfa-15215	27	38	lakonishok	lakonishok	PROPN
ajfa-15215	27	39	(	(	PUNCT
ajfa-15215	27	40	1991	1991	NUM
ajfa-15215	27	41	)	)	PUNCT
ajfa-15215	27	42	.	.	PUNCT
ajfa-15215	28	1	according	accord	VERB
ajfa-15215	28	2	to	to	ADP
ajfa-15215	28	3	chan	chan	PROPN
ajfa-15215	28	4	and	and	CCONJ
ajfa-15215	28	5	chen	chen	PROPN
ajfa-15215	28	6	1991	1991	NUM
ajfa-15215	28	7	,	,	PUNCT
ajfa-15215	28	8	small	small	ADJ
ajfa-15215	28	9	firms	firm	NOUN
ajfa-15215	28	10	are	be	AUX
ajfa-15215	28	11	distressed	distressed	ADJ
ajfa-15215	28	12	and	and	CCONJ
ajfa-15215	28	13	this	this	PRON
ajfa-15215	28	14	explains	explain	VERB
ajfa-15215	28	15	the	the	DET
ajfa-15215	28	16	difference	difference	NOUN
ajfa-15215	28	17	between	between	ADP
ajfa-15215	28	18	returns	return	NOUN
ajfa-15215	28	19	offered	offer	VERB
ajfa-15215	28	20	by	by	ADP
ajfa-15215	28	21	small	small	ADJ
ajfa-15215	28	22	and	and	CCONJ
ajfa-15215	28	23	large	large	ADJ
ajfa-15215	28	24	firms	firm	NOUN
ajfa-15215	28	25	.	.	PUNCT
ajfa-15215	29	1	lakonishok	lakonishok	NOUN
ajfa-15215	29	2	,	,	PUNCT
ajfa-15215	29	3	shleifer	shleifer	NOUN
ajfa-15215	29	4	and	and	CCONJ
ajfa-15215	29	5	vishny	vishny	PROPN
ajfa-15215	29	6	(	(	PUNCT
ajfa-15215	29	7	1994	1994	NUM
ajfa-15215	29	8	)	)	PUNCT
ajfa-15215	29	9	report	report	VERB
ajfa-15215	29	10	the	the	DET
ajfa-15215	29	11	existence	existence	NOUN
ajfa-15215	29	12	of	of	ADP
ajfa-15215	29	13	value	value	NOUN
ajfa-15215	29	14	premium	premium	NOUN
ajfa-15215	29	15	and	and	CCONJ
ajfa-15215	29	16	explain	explain	VERB
ajfa-15215	29	17	the	the	DET
ajfa-15215	29	18	reason	reason	NOUN
ajfa-15215	29	19	behind	behind	ADP
ajfa-15215	29	20	value	value	NOUN
ajfa-15215	29	21	stocks	stock	NOUN
ajfa-15215	29	22	performing	perform	VERB
ajfa-15215	29	23	better	well	ADV
ajfa-15215	29	24	than	than	ADP
ajfa-15215	29	25	growth	growth	NOUN
ajfa-15215	29	26	/	/	SYM
ajfa-15215	29	27	glamour	glamour	NOUN
ajfa-15215	29	28	stocks	stock	NOUN
ajfa-15215	29	29	.	.	PUNCT
ajfa-15215	30	1	they	they	PRON
ajfa-15215	30	2	conclude	conclude	VERB
ajfa-15215	30	3	that	that	PRON
ajfa-15215	30	4	value	value	NOUN
ajfa-15215	30	5	strategies	strategy	NOUN
ajfa-15215	30	6	are	be	AUX
ajfa-15215	30	7	more	more	ADV
ajfa-15215	30	8	profitable	profitable	ADJ
ajfa-15215	30	9	not	not	PART
ajfa-15215	30	10	because	because	SCONJ
ajfa-15215	30	11	of	of	ADP
ajfa-15215	30	12	the	the	DET
ajfa-15215	30	13	inherent	inherent	ADJ
ajfa-15215	30	14	risk	risk	NOUN
ajfa-15215	30	15	,	,	PUNCT
ajfa-15215	30	16	but	but	CCONJ
ajfa-15215	30	17	due	due	ADP
ajfa-15215	30	18	to	to	ADP
ajfa-15215	30	19	under	under	ADP
ajfa-15215	30	20	reaction	reaction	NOUN
ajfa-15215	30	21	associated	associate	VERB
ajfa-15215	30	22	with	with	ADP
ajfa-15215	30	23	distressed	distressed	ADJ
ajfa-15215	30	24	firms	firm	NOUN
ajfa-15215	30	25	.	.	PUNCT
ajfa-15215	31	1	fama	fama	PROPN
ajfa-15215	31	2	and	and	CCONJ
ajfa-15215	31	3	french	french	ADJ
ajfa-15215	31	4	(	(	PUNCT
ajfa-15215	31	5	1995	1995	NUM
ajfa-15215	31	6	)	)	PUNCT
ajfa-15215	31	7	confirm	confirm	VERB
ajfa-15215	31	8	the	the	DET
ajfa-15215	31	9	association	association	NOUN
ajfa-15215	31	10	of	of	ADP
ajfa-15215	31	11	high	high	ADJ
ajfa-15215	31	12	book	book	NOUN
ajfa-15215	31	13	equity	equity	NOUN
ajfa-15215	31	14	-	-	PUNCT
ajfa-15215	31	15	to	to	ADP
ajfa-15215	31	16	-	-	PUNCT
ajfa-15215	31	17	market	market	NOUN
ajfa-15215	31	18	equity	equity	NOUN
ajfa-15215	31	19	stocks	stock	NOUN
ajfa-15215	31	20	with	with	ADP
ajfa-15215	31	21	poor	poor	ADJ
ajfa-15215	31	22	earnings	earning	NOUN
ajfa-15215	31	23	,	,	PUNCT
ajfa-15215	31	24	making	make	VERB
ajfa-15215	31	25	them	they	PRON
ajfa-15215	31	26	distressed	distressed	ADJ
ajfa-15215	31	27	stocks	stock	NOUN
ajfa-15215	31	28	.	.	PUNCT
ajfa-15215	32	1	on	on	ADP
ajfa-15215	32	2	the	the	DET
ajfa-15215	32	3	other	other	ADJ
ajfa-15215	32	4	hand	hand	NOUN
ajfa-15215	32	5	,	,	PUNCT
ajfa-15215	32	6	higher	high	ADJ
ajfa-15215	32	7	profitability	profitability	NOUN
ajfa-15215	32	8	is	be	AUX
ajfa-15215	32	9	associated	associate	VERB
ajfa-15215	32	10	with	with	ADP
ajfa-15215	32	11	low	low	ADJ
ajfa-15215	32	12	book	book	NOUN
ajfa-15215	32	13	equity	equity	NOUN
ajfa-15215	32	14	-	-	PUNCT
ajfa-15215	32	15	to	to	ADP
ajfa-15215	32	16	-	-	PUNCT
ajfa-15215	32	17	market	market	NOUN
ajfa-15215	32	18	equity	equity	NOUN
ajfa-15215	32	19	stocks	stock	NOUN
ajfa-15215	32	20	.	.	PUNCT
ajfa-15215	33	1	fama	fama	PROPN
ajfa-15215	33	2	and	and	CCONJ
ajfa-15215	33	3	french	french	ADJ
ajfa-15215	33	4	(	(	PUNCT
ajfa-15215	33	5	1998	1998	NUM
ajfa-15215	33	6	)	)	PUNCT
ajfa-15215	33	7	prove	prove	VERB
ajfa-15215	33	8	the	the	DET
ajfa-15215	33	9	existence	existence	NOUN
ajfa-15215	33	10	of	of	ADP
ajfa-15215	33	11	value	value	NOUN
ajfa-15215	33	12	premium	premium	NOUN
ajfa-15215	33	13	in	in	ADP
ajfa-15215	33	14	various	various	ADJ
ajfa-15215	33	15	markets	market	NOUN
ajfa-15215	33	16	(	(	PUNCT
ajfa-15215	33	17	including	include	VERB
ajfa-15215	33	18	emerging	emerge	VERB
ajfa-15215	33	19	markets	market	NOUN
ajfa-15215	33	20	)	)	PUNCT
ajfa-15215	33	21	by	by	ADP
ajfa-15215	33	22	sorting	sort	VERB
ajfa-15215	33	23	securities	security	NOUN
ajfa-15215	33	24	on	on	ADP
ajfa-15215	33	25	the	the	DET
ajfa-15215	33	26	basis	basis	NOUN
ajfa-15215	33	27	of	of	ADP
ajfa-15215	33	28	book	book	NOUN
ajfa-15215	33	29	-	-	PUNCT
ajfa-15215	33	30	to	to	ADP
ajfa-15215	33	31	-	-	PUNCT
ajfa-15215	33	32	market	market	NOUN
ajfa-15215	33	33	equity	equity	NOUN
ajfa-15215	33	34	,	,	PUNCT
ajfa-15215	33	35	earnings	earning	NOUN
ajfa-15215	33	36	-	-	PUNCT
ajfa-15215	33	37	to	to	ADP
ajfa-15215	33	38	-	-	PUNCT
ajfa-15215	33	39	price	price	NOUN
ajfa-15215	33	40	,	,	PUNCT
ajfa-15215	33	41	cash	cash	NOUN
ajfa-15215	33	42	flow	flow	NOUN
ajfa-15215	33	43	-	-	PUNCT
ajfa-15215	33	44	to	to	ADP
ajfa-15215	33	45	-	-	PUNCT
ajfa-15215	33	46	price	price	NOUN
ajfa-15215	33	47	and	and	CCONJ
ajfa-15215	33	48	dividend	dividend	NOUN
ajfa-15215	33	49	-	-	PUNCT
ajfa-15215	33	50	to	to	ADP
ajfa-15215	33	51	-	-	PUNCT
ajfa-15215	33	52	price	price	NOUN
ajfa-15215	33	53	ratio	ratio	NOUN
ajfa-15215	33	54	.	.	PUNCT
ajfa-15215	34	1	chan	chan	PROPN
ajfa-15215	34	2	,	,	PUNCT
ajfa-15215	34	3	karceski	karceski	ADJ
ajfa-15215	34	4	and	and	CCONJ
ajfa-15215	34	5	lakonishok	lakonishok	PROPN
ajfa-15215	34	6	(	(	PUNCT
ajfa-15215	34	7	2000	2000	NUM
ajfa-15215	34	8	)	)	PUNCT
ajfa-15215	34	9	report	report	NOUN
ajfa-15215	34	10	there	there	PRON
ajfa-15215	34	11	is	be	VERB
ajfa-15215	34	12	a	a	DET
ajfa-15215	34	13	high	high	ADJ
ajfa-15215	34	14	chance	chance	NOUN
ajfa-15215	34	15	of	of	ADP
ajfa-15215	34	16	high	high	ADJ
ajfa-15215	34	17	p	p	X
ajfa-15215	34	18	/	/	SYM
ajfa-15215	34	19	e	e	NOUN
ajfa-15215	34	20	stocks	stock	NOUN
ajfa-15215	34	21	earning	earn	VERB
ajfa-15215	34	22	lesser	less	ADJ
ajfa-15215	34	23	returns	return	NOUN
ajfa-15215	34	24	in	in	ADP
ajfa-15215	34	25	future	future	NOUN
ajfa-15215	34	26	.	.	PUNCT
ajfa-15215	35	1	they	they	PRON
ajfa-15215	35	2	use	use	VERB
ajfa-15215	35	3	behavioural	behavioural	ADJ
ajfa-15215	35	4	arguments	argument	NOUN
ajfa-15215	35	5	to	to	PART
ajfa-15215	35	6	support	support	VERB
ajfa-15215	35	7	their	their	PRON
ajfa-15215	35	8	results	result	NOUN
ajfa-15215	35	9	.	.	PUNCT
ajfa-15215	36	1	chan	chan	PROPN
ajfa-15215	36	2	and	and	CCONJ
ajfa-15215	36	3	lakonishok	lakonishok	PROPN
ajfa-15215	36	4	(	(	PUNCT
ajfa-15215	36	5	2004	2004	NUM
ajfa-15215	36	6	)	)	PUNCT
ajfa-15215	36	7	revisit	revisit	NOUN
ajfa-15215	36	8	value	value	NOUN
ajfa-15215	36	9	vs	vs	ADP
ajfa-15215	36	10	growth	growth	NOUN
ajfa-15215	36	11	investing	invest	VERB
ajfa-15215	36	12	styles	style	NOUN
ajfa-15215	36	13	and	and	CCONJ
ajfa-15215	36	14	find	find	VERB
ajfa-15215	36	15	greater	great	ADJ
ajfa-15215	36	16	support	support	NOUN
ajfa-15215	36	17	for	for	ADP
ajfa-15215	36	18	value	value	NOUN
ajfa-15215	36	19	investing	invest	VERB
ajfa-15215	36	20	in	in	ADP
ajfa-15215	36	21	small	small	ADJ
ajfa-15215	36	22	-	-	PUNCT
ajfa-15215	36	23	cap	cap	NOUN
ajfa-15215	36	24	stocks	stock	NOUN
ajfa-15215	36	25	,	,	PUNCT
ajfa-15215	36	26	though	though	SCONJ
ajfa-15215	36	27	value	value	NOUN
ajfa-15215	36	28	premium	premium	NOUN
ajfa-15215	36	29	also	also	ADV
ajfa-15215	36	30	exists	exist	VERB
ajfa-15215	36	31	in	in	ADP
ajfa-15215	36	32	large	large	ADJ
ajfa-15215	36	33	-	-	PUNCT
ajfa-15215	36	34	cap	cap	NOUN
ajfa-15215	36	35	stocks	stock	NOUN
ajfa-15215	36	36	.	.	PUNCT
ajfa-15215	37	1	they	they	PRON
ajfa-15215	37	2	conclude	conclude	VERB
ajfa-15215	37	3	that	that	SCONJ
ajfa-15215	37	4	investors	investor	NOUN
ajfa-15215	37	5	over	over	ADP
ajfa-15215	37	6	react	react	NOUN
ajfa-15215	37	7	to	to	ADP
ajfa-15215	37	8	growth	growth	NOUN
ajfa-15215	37	9	stocks	stock	NOUN
ajfa-15215	37	10	,	,	PUNCT
ajfa-15215	37	11	whereas	whereas	SCONJ
ajfa-15215	37	12	market	market	NOUN
ajfa-15215	37	13	price	price	NOUN
ajfa-15215	37	14	of	of	ADP
ajfa-15215	37	15	value	value	NOUN
ajfa-15215	37	16	stocks	stock	NOUN
ajfa-15215	37	17	is	be	AUX
ajfa-15215	37	18	much	much	ADV
ajfa-15215	37	19	below	below	ADP
ajfa-15215	37	20	their	their	PRON
ajfa-15215	37	21	fundamental	fundamental	ADJ
ajfa-15215	37	22	value	value	NOUN
ajfa-15215	37	23	.	.	PUNCT
ajfa-15215	38	1	thus	thus	ADV
ajfa-15215	38	2	,	,	PUNCT
ajfa-15215	38	3	long	long	ADJ
ajfa-15215	38	4	-	-	PUNCT
ajfa-15215	38	5	term	term	NOUN
ajfa-15215	38	6	profits	profit	NOUN
ajfa-15215	38	7	can	can	AUX
ajfa-15215	38	8	be	be	AUX
ajfa-15215	38	9	earned	earn	VERB
ajfa-15215	38	10	by	by	ADP
ajfa-15215	38	11	staying	stay	VERB
ajfa-15215	38	12	patiently	patiently	ADV
ajfa-15215	38	13	invested	invest	VERB
ajfa-15215	38	14	in	in	ADP
ajfa-15215	38	15	value	value	NOUN
ajfa-15215	38	16	stocks	stock	NOUN
ajfa-15215	38	17	.	.	PUNCT
ajfa-15215	39	1	houge	houge	NOUN
ajfa-15215	39	2	and	and	CCONJ
ajfa-15215	39	3	loughran	loughran	NOUN
ajfa-15215	39	4	(	(	PUNCT
ajfa-15215	39	5	2006	2006	NUM
ajfa-15215	39	6	)	)	PUNCT
ajfa-15215	39	7	do	do	AUX
ajfa-15215	39	8	not	not	PART
ajfa-15215	39	9	find	find	VERB
ajfa-15215	39	10	value	value	NOUN
ajfa-15215	39	11	stocks	stock	NOUN
ajfa-15215	39	12	earning	earn	VERB
ajfa-15215	39	13	higher	high	ADJ
ajfa-15215	39	14	returns	return	NOUN
ajfa-15215	39	15	than	than	ADP
ajfa-15215	39	16	growth	growth	NOUN
ajfa-15215	39	17	stocks	stock	NOUN
ajfa-15215	39	18	for	for	ADP
ajfa-15215	39	19	their	their	PRON
ajfa-15215	39	20	sample	sample	NOUN
ajfa-15215	39	21	indices	index	NOUN
ajfa-15215	39	22	and	and	CCONJ
ajfa-15215	39	23	large	large	ADJ
ajfa-15215	39	24	-	-	PUNCT
ajfa-15215	39	25	cap	cap	NOUN
ajfa-15215	39	26	firms	firm	NOUN
ajfa-15215	39	27	.	.	PUNCT
ajfa-15215	40	1	they	they	PRON
ajfa-15215	40	2	also	also	ADV
ajfa-15215	40	3	report	report	VERB
ajfa-15215	40	4	value	value	NOUN
ajfa-15215	40	5	and	and	CCONJ
ajfa-15215	40	6	growth	growth	NOUN
ajfa-15215	40	7	mutual	mutual	ADJ
ajfa-15215	40	8	funds	fund	NOUN
ajfa-15215	40	9	earning	earn	VERB
ajfa-15215	40	10	similar	similar	ADJ
ajfa-15215	40	11	returns	return	NOUN
ajfa-15215	40	12	across	across	ADP
ajfa-15215	40	13	all	all	DET
ajfa-15215	40	14	sizes	size	NOUN
ajfa-15215	40	15	.	.	PUNCT
ajfa-15215	41	1	sehgal	sehgal	PROPN
ajfa-15215	41	2	and	and	CCONJ
ajfa-15215	41	3	tripathi	tripathi	PROPN
ajfa-15215	41	4	(	(	PUNCT
ajfa-15215	41	5	2007	2007	NUM
ajfa-15215	41	6	)	)	PUNCT
ajfa-15215	41	7	find	find	VERB
ajfa-15215	41	8	value	value	NOUN
ajfa-15215	41	9	effect	effect	NOUN
ajfa-15215	41	10	in	in	ADP
ajfa-15215	41	11	indian	indian	ADJ
ajfa-15215	41	12	stock	stock	NOUN
ajfa-15215	41	13	markets	market	NOUN
ajfa-15215	41	14	by	by	ADP
ajfa-15215	41	15	using	use	VERB
ajfa-15215	41	16	book	book	NOUN
ajfa-15215	41	17	-	-	PUNCT
ajfa-15215	41	18	to	to	ADP
ajfa-15215	41	19	-	-	PUNCT
ajfa-15215	41	20	market	market	NOUN
ajfa-15215	41	21	equity	equity	NOUN
ajfa-15215	41	22	,	,	PUNCT
ajfa-15215	41	23	earnings	earning	NOUN
ajfa-15215	41	24	-	-	PUNCT
ajfa-15215	41	25	to	to	ADP
ajfa-15215	41	26	-	-	PUNCT
ajfa-15215	41	27	price	price	NOUN
ajfa-15215	41	28	,	,	PUNCT
ajfa-15215	41	29	cash	cash	NOUN
ajfa-15215	41	30	flow	flow	NOUN
ajfa-15215	41	31	-	-	PUNCT
ajfa-15215	41	32	to	to	ADP
ajfa-15215	41	33	-	-	PUNCT
ajfa-15215	41	34	price	price	NOUN
ajfa-15215	41	35	and	and	CCONJ
ajfa-15215	41	36	dividend	dividend	NOUN
ajfa-15215	41	37	-	-	PUNCT
ajfa-15215	41	38	to	to	ADP
ajfa-15215	41	39	-	-	PUNCT
ajfa-15215	41	40	price	price	NOUN
ajfa-15215	41	41	ratio	ratio	NOUN
ajfa-15215	41	42	.	.	PUNCT
ajfa-15215	42	1	schatzberg	schatzberg	PROPN
ajfa-15215	42	2	and	and	CCONJ
ajfa-15215	42	3	vora	vora	PROPN
ajfa-15215	42	4	(	(	PUNCT
ajfa-15215	42	5	2009	2009	NUM
ajfa-15215	42	6	)	)	PUNCT
ajfa-15215	42	7	confirm	confirm	VERB
ajfa-15215	42	8	profitability	profitability	NOUN
ajfa-15215	42	9	of	of	ADP
ajfa-15215	42	10	peg	peg	NOUN
ajfa-15215	42	11	investment	investment	NOUN
ajfa-15215	42	12	strategy	strategy	NOUN
ajfa-15215	42	13	.	.	PUNCT
ajfa-15215	43	1	marx	marx	PROPN
ajfa-15215	43	2	(	(	PUNCT
ajfa-15215	43	3	2013	2013	NUM
ajfa-15215	43	4	)	)	PUNCT
ajfa-15215	43	5	analyses	analyse	VERB
ajfa-15215	43	6	trading	trading	NOUN
ajfa-15215	43	7	strategies	strategy	NOUN
ajfa-15215	43	8	created	create	VERB
ajfa-15215	43	9	on	on	ADP
ajfa-15215	43	10	the	the	DET
ajfa-15215	43	11	basis	basis	NOUN
ajfa-15215	43	12	of	of	ADP
ajfa-15215	43	13	profitability	profitability	NOUN
ajfa-15215	43	14	(	(	PUNCT
ajfa-15215	43	15	measured	measure	VERB
ajfa-15215	43	16	using	use	VERB
ajfa-15215	43	17	gross	gross	ADJ
ajfa-15215	43	18	profit	profit	NOUN
ajfa-15215	43	19	-	-	PUNCT
ajfa-15215	43	20	to	to	ADP
ajfa-15215	43	21	-	-	PUNCT
ajfa-15215	43	22	assets	asset	NOUN
ajfa-15215	43	23	ratio	ratio	NOUN
ajfa-15215	43	24	)	)	PUNCT
ajfa-15215	43	25	and	and	CCONJ
ajfa-15215	43	26	book	book	NOUN
ajfa-15215	43	27	-	-	PUNCT
ajfa-15215	43	28	to	to	ADP
ajfa-15215	43	29	-	-	PUNCT
ajfa-15215	43	30	market	market	NOUN
ajfa-15215	43	31	ratio	ratio	NOUN
ajfa-15215	43	32	.	.	PUNCT
ajfa-15215	44	1	better	well	ADJ
ajfa-15215	44	2	returns	return	NOUN
ajfa-15215	44	3	are	be	AUX
ajfa-15215	44	4	found	find	VERB
ajfa-15215	44	5	amongst	amongst	ADP
ajfa-15215	44	6	profitable	profitable	ADJ
ajfa-15215	44	7	firms	firm	NOUN
ajfa-15215	44	8	in	in	ADP
ajfa-15215	44	9	spite	spite	NOUN
ajfa-15215	44	10	of	of	ADP
ajfa-15215	44	11	higher	high	ADJ
ajfa-15215	44	12	p	p	NOUN
ajfa-15215	44	13	/	/	SYM
ajfa-15215	44	14	b	b	NOUN
ajfa-15215	44	15	ratios	ratio	NOUN
ajfa-15215	44	16	.	.	PUNCT
ajfa-15215	45	1	according	accord	VERB
ajfa-15215	45	2	to	to	ADP
ajfa-15215	45	3	him	he	PRON
ajfa-15215	45	4	it	it	PRON
ajfa-15215	45	5	is	be	AUX
ajfa-15215	45	6	beneficial	beneficial	ADJ
ajfa-15215	45	7	to	to	PART
ajfa-15215	45	8	combine	combine	VERB
ajfa-15215	45	9	profitability	profitability	NOUN
ajfa-15215	45	10	and	and	CCONJ
ajfa-15215	45	11	value	value	NOUN
ajfa-15215	45	12	strategies	strategy	NOUN
ajfa-15215	45	13	.	.	PUNCT
ajfa-15215	46	1	value	value	NOUN
ajfa-15215	46	2	effect	effect	NOUN
ajfa-15215	46	3	is	be	AUX
ajfa-15215	46	4	confirmed	confirm	VERB
ajfa-15215	46	5	by	by	ADP
ajfa-15215	46	6	sehgal	sehgal	PROPN
ajfa-15215	46	7	and	and	CCONJ
ajfa-15215	46	8	balakrihsnan	balakrihsnan	ADJ
ajfa-15215	46	9	(	(	PUNCT
ajfa-15215	46	10	2013	2013	NUM
ajfa-15215	46	11	)	)	PUNCT
ajfa-15215	46	12	,	,	PUNCT
ajfa-15215	46	13	where	where	SCONJ
ajfa-15215	46	14	value	value	NOUN
ajfa-15215	46	15	is	be	AUX
ajfa-15215	46	16	defined	define	VERB
ajfa-15215	46	17	using	use	VERB
ajfa-15215	46	18	p	p	X
ajfa-15215	46	19	/	/	SYM
ajfa-15215	46	20	e	e	NOUN
ajfa-15215	46	21	,	,	PUNCT
ajfa-15215	46	22	p	p	NOUN
ajfa-15215	46	23	/	/	SYM
ajfa-15215	46	24	b	b	PROPN
ajfa-15215	46	25	and	and	CCONJ
ajfa-15215	46	26	psg	psg	PROPN
ajfa-15215	46	27	(	(	PUNCT
ajfa-15215	46	28	past	past	ADJ
ajfa-15215	46	29	sales	sale	NOUN
ajfa-15215	46	30	growth	growth	NOUN
ajfa-15215	46	31	)	)	PUNCT
ajfa-15215	46	32	.	.	PUNCT
ajfa-15215	47	1	sehgal	sehgal	PROPN
ajfa-15215	47	2	and	and	CCONJ
ajfa-15215	47	3	pandey	pandey	PROPN
ajfa-15215	47	4	(	(	PUNCT
ajfa-15215	47	5	2014	2014	NUM
ajfa-15215	47	6	)	)	PUNCT
ajfa-15215	47	7	find	find	VERB
ajfa-15215	47	8	that	that	SCONJ
ajfa-15215	47	9	in	in	ADP
ajfa-15215	47	10	indian	indian	ADJ
ajfa-15215	47	11	market	market	NOUN
ajfa-15215	47	12	low	low	ADJ
ajfa-15215	47	13	priceto	priceto	NOUN
ajfa-15215	47	14	-	-	PUNCT
ajfa-15215	47	15	book	book	NOUN
ajfa-15215	47	16	,	,	PUNCT
ajfa-15215	47	17	price	price	NOUN
ajfa-15215	47	18	-	-	PUNCT
ajfa-15215	47	19	to	to	ADP
ajfa-15215	47	20	-	-	PUNCT
ajfa-15215	47	21	equity	equity	NOUN
ajfa-15215	47	22	and	and	CCONJ
ajfa-15215	47	23	price	price	NOUN
ajfa-15215	47	24	-	-	PUNCT
ajfa-15215	47	25	to	to	ADP
ajfa-15215	47	26	-	-	PUNCT
ajfa-15215	47	27	sales	sale	NOUN
ajfa-15215	47	28	ratio	ratio	NOUN
ajfa-15215	47	29	stocks	stock	NOUN
ajfa-15215	47	30	outperform	outperform	VERB
ajfa-15215	47	31	stocks	stock	NOUN
ajfa-15215	47	32	with	with	ADP
ajfa-15215	47	33	high	high	ADJ
ajfa-15215	47	34	price	price	NOUN
ajfa-15215	47	35	-	-	PUNCT
ajfa-15215	47	36	toasian	toasian	NOUN
ajfa-15215	47	37	journal	journal	NOUN
ajfa-15215	47	38	of	of	ADP
ajfa-15215	47	39	finance	finance	PROPN
ajfa-15215	47	40	&	&	CCONJ
ajfa-15215	47	41	accounting	accounting	PROPN
ajfa-15215	47	42	issn	issn	PROPN
ajfa-15215	47	43	1946	1946	NUM
ajfa-15215	47	44	-	-	PUNCT
ajfa-15215	47	45	052x	052x	PROPN
ajfa-15215	47	46	2019	2019	NUM
ajfa-15215	47	47	,	,	PUNCT
ajfa-15215	47	48	vol	vol	NOUN
ajfa-15215	47	49	.	.	PROPN
ajfa-15215	47	50	11	11	NUM
ajfa-15215	47	51	,	,	PUNCT
ajfa-15215	47	52	no	no	INTJ
ajfa-15215	47	53	.	.	NOUN
ajfa-15215	47	54	2	2	NUM
ajfa-15215	47	55	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	47	56	44	44	NUM
ajfa-15215	47	57	book	book	NOUN
ajfa-15215	47	58	,	,	PUNCT
ajfa-15215	47	59	price	price	NOUN
ajfa-15215	47	60	-	-	PUNCT
ajfa-15215	47	61	to	to	ADP
ajfa-15215	47	62	-	-	PUNCT
ajfa-15215	47	63	equity	equity	NOUN
ajfa-15215	47	64	and	and	CCONJ
ajfa-15215	47	65	price	price	NOUN
ajfa-15215	47	66	-	-	PUNCT
ajfa-15215	47	67	to	to	ADP
ajfa-15215	47	68	-	-	PUNCT
ajfa-15215	47	69	sales	sale	NOUN
ajfa-15215	47	70	ratios	ratio	NOUN
ajfa-15215	47	71	.	.	PUNCT
ajfa-15215	48	1	subramanaiam	subramanaiam	PROPN
ajfa-15215	48	2	,	,	PUNCT
ajfa-15215	48	3	sharma	sharma	PROPN
ajfa-15215	48	4	and	and	CCONJ
ajfa-15215	48	5	sehgal	sehgal	PROPN
ajfa-15215	48	6	(	(	PUNCT
ajfa-15215	48	7	2017	2017	NUM
ajfa-15215	48	8	)	)	PUNCT
ajfa-15215	48	9	confirm	confirm	VERB
ajfa-15215	48	10	value	value	NOUN
ajfa-15215	48	11	effect	effect	NOUN
ajfa-15215	48	12	using	use	VERB
ajfa-15215	48	13	p	p	PROPN
ajfa-15215	48	14	/	/	SYM
ajfa-15215	48	15	b	b	NOUN
ajfa-15215	48	16	ratio	ratio	NOUN
ajfa-15215	48	17	for	for	ADP
ajfa-15215	48	18	the	the	DET
ajfa-15215	48	19	indian	indian	ADJ
ajfa-15215	48	20	stock	stock	NOUN
ajfa-15215	48	21	market	market	NOUN
ajfa-15215	48	22	.	.	PUNCT
ajfa-15215	49	1	past	past	ADJ
ajfa-15215	49	2	literature	literature	NOUN
ajfa-15215	49	3	labels	label	VERB
ajfa-15215	49	4	stocks	stock	NOUN
ajfa-15215	49	5	with	with	ADP
ajfa-15215	49	6	lower	low	ADJ
ajfa-15215	49	7	price	price	NOUN
ajfa-15215	49	8	-	-	PUNCT
ajfa-15215	49	9	to	to	ADP
ajfa-15215	49	10	-	-	PUNCT
ajfa-15215	49	11	book	book	NOUN
ajfa-15215	49	12	and	and	CCONJ
ajfa-15215	49	13	price	price	NOUN
ajfa-15215	49	14	-	-	PUNCT
ajfa-15215	49	15	to	to	ADP
ajfa-15215	49	16	-	-	PUNCT
ajfa-15215	49	17	equity	equity	NOUN
ajfa-15215	49	18	ratios	ratio	NOUN
ajfa-15215	49	19	as	as	ADP
ajfa-15215	49	20	value	value	NOUN
ajfa-15215	49	21	stocks	stock	NOUN
ajfa-15215	49	22	and	and	CCONJ
ajfa-15215	49	23	securities	security	NOUN
ajfa-15215	49	24	with	with	ADP
ajfa-15215	49	25	higher	high	ADJ
ajfa-15215	49	26	value	value	NOUN
ajfa-15215	49	27	ratios	ratio	NOUN
ajfa-15215	49	28	as	as	ADP
ajfa-15215	49	29	glamour	glamour	NOUN
ajfa-15215	49	30	or	or	CCONJ
ajfa-15215	49	31	growth	growth	NOUN
ajfa-15215	49	32	stocks	stock	NOUN
ajfa-15215	49	33	.	.	PUNCT
ajfa-15215	50	1	value	value	NOUN
ajfa-15215	50	2	effect	effect	NOUN
ajfa-15215	50	3	is	be	AUX
ajfa-15215	50	4	defined	define	VERB
ajfa-15215	50	5	as	as	ADP
ajfa-15215	50	6	stocks	stock	NOUN
ajfa-15215	50	7	with	with	ADP
ajfa-15215	50	8	low	low	ADJ
ajfa-15215	50	9	p	p	PROPN
ajfa-15215	50	10	/	/	SYM
ajfa-15215	50	11	b	b	NOUN
ajfa-15215	50	12	and	and	CCONJ
ajfa-15215	50	13	p	p	NOUN
ajfa-15215	50	14	/	/	SYM
ajfa-15215	50	15	e	e	NOUN
ajfa-15215	50	16	ratios	ratio	NOUN
ajfa-15215	50	17	outperforming	outperform	VERB
ajfa-15215	50	18	securities	security	NOUN
ajfa-15215	50	19	with	with	ADP
ajfa-15215	50	20	higher	high	ADJ
ajfa-15215	50	21	p	p	PROPN
ajfa-15215	50	22	/	/	SYM
ajfa-15215	50	23	b	b	NOUN
ajfa-15215	50	24	and	and	CCONJ
ajfa-15215	50	25	p	p	ADJ
ajfa-15215	50	26	/	/	SYM
ajfa-15215	50	27	e	e	NOUN
ajfa-15215	50	28	ratios	ratio	NOUN
ajfa-15215	50	29	.	.	PUNCT
ajfa-15215	51	1	this	this	PRON
ajfa-15215	51	2	could	could	AUX
ajfa-15215	51	3	be	be	AUX
ajfa-15215	51	4	due	due	ADJ
ajfa-15215	51	5	to	to	ADP
ajfa-15215	51	6	undervaluation	undervaluation	NOUN
ajfa-15215	51	7	of	of	ADP
ajfa-15215	51	8	relatively	relatively	ADV
ajfa-15215	51	9	distressed	distressed	ADJ
ajfa-15215	51	10	value	value	NOUN
ajfa-15215	51	11	stocks	stock	NOUN
ajfa-15215	51	12	.	.	PUNCT
ajfa-15215	52	1	on	on	ADP
ajfa-15215	52	2	the	the	DET
ajfa-15215	52	3	other	other	ADJ
ajfa-15215	52	4	hand	hand	NOUN
ajfa-15215	52	5	,	,	PUNCT
ajfa-15215	52	6	investors	investor	NOUN
ajfa-15215	52	7	who	who	PRON
ajfa-15215	52	8	believe	believe	VERB
ajfa-15215	52	9	in	in	ADP
ajfa-15215	52	10	growth	growth	NOUN
ajfa-15215	52	11	investing	investing	NOUN
ajfa-15215	52	12	strategy	strategy	NOUN
ajfa-15215	52	13	,	,	PUNCT
ajfa-15215	52	14	assume	assume	VERB
ajfa-15215	52	15	that	that	SCONJ
ajfa-15215	52	16	high	high	ADJ
ajfa-15215	52	17	growth	growth	NOUN
ajfa-15215	52	18	stocks	stock	NOUN
ajfa-15215	52	19	continue	continue	VERB
ajfa-15215	52	20	to	to	PART
ajfa-15215	52	21	have	have	VERB
ajfa-15215	52	22	higher	high	ADJ
ajfa-15215	52	23	growth	growth	NOUN
ajfa-15215	52	24	potential	potential	NOUN
ajfa-15215	52	25	which	which	PRON
ajfa-15215	52	26	leads	lead	VERB
ajfa-15215	52	27	to	to	ADP
ajfa-15215	52	28	outperforming	outperform	VERB
ajfa-15215	52	29	low	low	ADJ
ajfa-15215	52	30	growth	growth	NOUN
ajfa-15215	52	31	stocks	stock	NOUN
ajfa-15215	52	32	.	.	PUNCT
ajfa-15215	53	1	damodaran	damodaran	VERB
ajfa-15215	53	2	(	(	PUNCT
ajfa-15215	53	3	2012	2012	NUM
ajfa-15215	53	4	)	)	PUNCT
ajfa-15215	53	5	defines	define	VERB
ajfa-15215	53	6	growth	growth	NOUN
ajfa-15215	53	7	investors	investor	NOUN
ajfa-15215	53	8	as	as	ADP
ajfa-15215	53	9	those	those	PRON
ajfa-15215	53	10	who	who	PRON
ajfa-15215	53	11	invest	invest	VERB
ajfa-15215	53	12	in	in	ADP
ajfa-15215	53	13	companies	company	NOUN
ajfa-15215	53	14	based	base	VERB
ajfa-15215	53	15	on	on	ADP
ajfa-15215	53	16	market	market	NOUN
ajfa-15215	53	17	valuation	valuation	NOUN
ajfa-15215	53	18	of	of	ADP
ajfa-15215	53	19	their	their	PRON
ajfa-15215	53	20	growth	growth	NOUN
ajfa-15215	53	21	potential	potential	NOUN
ajfa-15215	53	22	.	.	PUNCT
ajfa-15215	54	1	he	he	PRON
ajfa-15215	54	2	demonstrates	demonstrate	VERB
ajfa-15215	54	3	that	that	SCONJ
ajfa-15215	54	4	over	over	ADP
ajfa-15215	54	5	long	long	ADJ
ajfa-15215	54	6	term	term	NOUN
ajfa-15215	54	7	,	,	PUNCT
ajfa-15215	54	8	value	value	NOUN
ajfa-15215	54	9	investing	investing	NOUN
ajfa-15215	54	10	outperforms	outperform	NOUN
ajfa-15215	54	11	growth	growth	NOUN
ajfa-15215	54	12	investing	investing	NOUN
ajfa-15215	54	13	.	.	PUNCT
ajfa-15215	55	1	but	but	CCONJ
ajfa-15215	55	2	there	there	PRON
ajfa-15215	55	3	are	be	VERB
ajfa-15215	55	4	certain	certain	ADJ
ajfa-15215	55	5	periods	period	NOUN
ajfa-15215	55	6	when	when	SCONJ
ajfa-15215	55	7	growth	growth	NOUN
ajfa-15215	55	8	investing	investing	NOUN
ajfa-15215	55	9	proves	prove	VERB
ajfa-15215	55	10	to	to	PART
ajfa-15215	55	11	be	be	AUX
ajfa-15215	55	12	better	well	ADJ
ajfa-15215	55	13	.	.	PUNCT
ajfa-15215	56	1	till	till	SCONJ
ajfa-15215	56	2	now	now	ADV
ajfa-15215	56	3	value	value	NOUN
ajfa-15215	56	4	and	and	CCONJ
ajfa-15215	56	5	growth	growth	NOUN
ajfa-15215	56	6	have	have	AUX
ajfa-15215	56	7	been	be	AUX
ajfa-15215	56	8	identified	identify	VERB
ajfa-15215	56	9	on	on	ADP
ajfa-15215	56	10	the	the	DET
ajfa-15215	56	11	same	same	ADJ
ajfa-15215	56	12	continuum	continuum	NOUN
ajfa-15215	56	13	.	.	PUNCT
ajfa-15215	57	1	in	in	ADP
ajfa-15215	57	2	this	this	DET
ajfa-15215	57	3	study	study	NOUN
ajfa-15215	57	4	we	we	PRON
ajfa-15215	57	5	attempt	attempt	VERB
ajfa-15215	57	6	to	to	PART
ajfa-15215	57	7	test	test	VERB
ajfa-15215	57	8	this	this	PRON
ajfa-15215	57	9	and	and	CCONJ
ajfa-15215	57	10	analyse	analyse	VERB
ajfa-15215	57	11	if	if	SCONJ
ajfa-15215	57	12	we	we	PRON
ajfa-15215	57	13	are	be	AUX
ajfa-15215	57	14	mixing	mix	VERB
ajfa-15215	57	15	up	up	ADP
ajfa-15215	57	16	two	two	NUM
ajfa-15215	57	17	different	different	ADJ
ajfa-15215	57	18	dimensions	dimension	NOUN
ajfa-15215	57	19	.	.	PUNCT
ajfa-15215	58	1	we	we	PRON
ajfa-15215	58	2	examine	examine	VERB
ajfa-15215	58	3	the	the	DET
ajfa-15215	58	4	profitability	profitability	NOUN
ajfa-15215	58	5	of	of	ADP
ajfa-15215	58	6	value	value	NOUN
ajfa-15215	58	7	and	and	CCONJ
ajfa-15215	58	8	growth	growth	NOUN
ajfa-15215	58	9	strategy	strategy	NOUN
ajfa-15215	58	10	in	in	ADP
ajfa-15215	58	11	the	the	DET
ajfa-15215	58	12	indian	indian	ADJ
ajfa-15215	58	13	market	market	NOUN
ajfa-15215	58	14	.	.	PUNCT
ajfa-15215	59	1	if	if	SCONJ
ajfa-15215	59	2	both	both	DET
ajfa-15215	59	3	strategies	strategy	NOUN
ajfa-15215	59	4	prove	prove	VERB
ajfa-15215	59	5	to	to	PART
ajfa-15215	59	6	be	be	AUX
ajfa-15215	59	7	profitable	profitable	ADJ
ajfa-15215	59	8	,	,	PUNCT
ajfa-15215	59	9	then	then	ADV
ajfa-15215	59	10	value	value	NOUN
ajfa-15215	59	11	and	and	CCONJ
ajfa-15215	59	12	growth	growth	NOUN
ajfa-15215	59	13	may	may	AUX
ajfa-15215	59	14	possibly	possibly	ADV
ajfa-15215	59	15	be	be	AUX
ajfa-15215	59	16	different	different	ADJ
ajfa-15215	59	17	dimensions	dimension	NOUN
ajfa-15215	59	18	.	.	PUNCT
ajfa-15215	60	1	we	we	PRON
ajfa-15215	60	2	attempt	attempt	VERB
ajfa-15215	60	3	to	to	PART
ajfa-15215	60	4	explore	explore	VERB
ajfa-15215	60	5	this	this	PRON
ajfa-15215	60	6	,	,	PUNCT
ajfa-15215	60	7	and	and	CCONJ
ajfa-15215	60	8	evaluate	evaluate	VERB
ajfa-15215	60	9	the	the	DET
ajfa-15215	60	10	profitability	profitability	NOUN
ajfa-15215	60	11	earned	earn	VERB
ajfa-15215	60	12	by	by	ADP
ajfa-15215	60	13	combining	combine	VERB
ajfa-15215	60	14	these	these	DET
ajfa-15215	60	15	two	two	NUM
ajfa-15215	60	16	strategies	strategy	NOUN
ajfa-15215	60	17	.	.	PUNCT
ajfa-15215	61	1	combination	combination	NOUN
ajfa-15215	61	2	of	of	ADP
ajfa-15215	61	3	value	value	NOUN
ajfa-15215	61	4	and	and	CCONJ
ajfa-15215	61	5	growth	growth	NOUN
ajfa-15215	61	6	would	would	AUX
ajfa-15215	61	7	result	result	VERB
ajfa-15215	61	8	in	in	ADP
ajfa-15215	61	9	enhanced	enhanced	ADJ
ajfa-15215	61	10	profits	profit	NOUN
ajfa-15215	61	11	,	,	PUNCT
ajfa-15215	61	12	if	if	SCONJ
ajfa-15215	61	13	these	these	DET
ajfa-15215	61	14	two	two	NUM
ajfa-15215	61	15	phenomenon	phenomenon	NOUN
ajfa-15215	61	16	are	be	AUX
ajfa-15215	61	17	countercyclical	countercyclical	ADJ
ajfa-15215	61	18	in	in	ADP
ajfa-15215	61	19	nature	nature	NOUN
ajfa-15215	61	20	.	.	PUNCT
ajfa-15215	62	1	this	this	PRON
ajfa-15215	62	2	could	could	AUX
ajfa-15215	62	3	be	be	AUX
ajfa-15215	62	4	due	due	ADJ
ajfa-15215	62	5	to	to	ADP
ajfa-15215	62	6	preference	preference	NOUN
ajfa-15215	62	7	of	of	ADP
ajfa-15215	62	8	different	different	ADJ
ajfa-15215	62	9	strategies	strategy	NOUN
ajfa-15215	62	10	in	in	ADP
ajfa-15215	62	11	different	different	ADJ
ajfa-15215	62	12	market	market	NOUN
ajfa-15215	62	13	states	state	NOUN
ajfa-15215	62	14	.	.	PUNCT
ajfa-15215	63	1	market	market	NOUN
ajfa-15215	63	2	upturns	upturn	NOUN
ajfa-15215	63	3	are	be	AUX
ajfa-15215	63	4	usually	usually	ADV
ajfa-15215	63	5	sentiment	sentiment	NOUN
ajfa-15215	63	6	-	-	PUNCT
ajfa-15215	63	7	driven	drive	VERB
ajfa-15215	63	8	.	.	PUNCT
ajfa-15215	64	1	high	high	ADJ
ajfa-15215	64	2	investor	investor	NOUN
ajfa-15215	64	3	sentiments	sentiment	NOUN
ajfa-15215	64	4	lead	lead	VERB
ajfa-15215	64	5	to	to	ADP
ajfa-15215	64	6	overreaction	overreaction	NOUN
ajfa-15215	64	7	to	to	PART
ajfa-15215	64	8	good	good	ADJ
ajfa-15215	64	9	as	as	ADV
ajfa-15215	64	10	well	well	ADV
ajfa-15215	64	11	as	as	ADP
ajfa-15215	64	12	bad	bad	ADJ
ajfa-15215	64	13	information	information	NOUN
ajfa-15215	64	14	.	.	PUNCT
ajfa-15215	65	1	this	this	PRON
ajfa-15215	65	2	leads	lead	VERB
ajfa-15215	65	3	to	to	ADP
ajfa-15215	65	4	overvaluation	overvaluation	NOUN
ajfa-15215	65	5	of	of	ADP
ajfa-15215	65	6	growth	growth	NOUN
ajfa-15215	65	7	stocks	stock	NOUN
ajfa-15215	65	8	.	.	PUNCT
ajfa-15215	66	1	at	at	ADP
ajfa-15215	66	2	the	the	DET
ajfa-15215	66	3	same	same	ADJ
ajfa-15215	66	4	time	time	NOUN
ajfa-15215	66	5	,	,	PUNCT
ajfa-15215	66	6	overreaction	overreaction	NOUN
ajfa-15215	66	7	to	to	ADP
ajfa-15215	66	8	bad	bad	ADJ
ajfa-15215	66	9	information	information	NOUN
ajfa-15215	66	10	leads	lead	VERB
ajfa-15215	66	11	to	to	ADP
ajfa-15215	66	12	undervaluation	undervaluation	NOUN
ajfa-15215	66	13	of	of	ADP
ajfa-15215	66	14	relatively	relatively	ADV
ajfa-15215	66	15	distressed	distressed	ADJ
ajfa-15215	66	16	value	value	NOUN
ajfa-15215	66	17	stocks	stock	NOUN
ajfa-15215	66	18	.	.	PUNCT
ajfa-15215	67	1	(	(	PUNCT
ajfa-15215	67	2	see	see	VERB
ajfa-15215	67	3	veronesi	veronesi	NOUN
ajfa-15215	67	4	(	(	PUNCT
ajfa-15215	67	5	1999	1999	NUM
ajfa-15215	67	6	)	)	PUNCT
ajfa-15215	67	7	)	)	PUNCT
ajfa-15215	67	8	.	.	PUNCT
ajfa-15215	68	1	thus	thus	ADV
ajfa-15215	68	2	,	,	PUNCT
ajfa-15215	68	3	it	it	PRON
ajfa-15215	68	4	may	may	AUX
ajfa-15215	68	5	be	be	AUX
ajfa-15215	68	6	profitable	profitable	ADJ
ajfa-15215	68	7	for	for	SCONJ
ajfa-15215	68	8	investors	investor	NOUN
ajfa-15215	68	9	to	to	PART
ajfa-15215	68	10	buy	buy	VERB
ajfa-15215	68	11	low	low	ADJ
ajfa-15215	68	12	p	p	PROPN
ajfa-15215	68	13	/	/	SYM
ajfa-15215	68	14	b	b	NOUN
ajfa-15215	68	15	and	and	CCONJ
ajfa-15215	68	16	p	p	NOUN
ajfa-15215	68	17	/	/	SYM
ajfa-15215	68	18	e	e	NOUN
ajfa-15215	68	19	stocks	stock	NOUN
ajfa-15215	68	20	and	and	CCONJ
ajfa-15215	68	21	aim	aim	VERB
ajfa-15215	68	22	at	at	ADP
ajfa-15215	68	23	earning	earn	VERB
ajfa-15215	68	24	long	long	ADJ
ajfa-15215	68	25	-	-	PUNCT
ajfa-15215	68	26	term	term	NOUN
ajfa-15215	68	27	profits	profit	NOUN
ajfa-15215	68	28	in	in	ADP
ajfa-15215	68	29	upswings	upswing	NOUN
ajfa-15215	68	30	.	.	PUNCT
ajfa-15215	69	1	on	on	ADP
ajfa-15215	69	2	the	the	DET
ajfa-15215	69	3	other	other	ADJ
ajfa-15215	69	4	hand	hand	NOUN
ajfa-15215	69	5	,	,	PUNCT
ajfa-15215	69	6	investors	investor	NOUN
ajfa-15215	69	7	resort	resort	VERB
ajfa-15215	69	8	to	to	ADP
ajfa-15215	69	9	fundamentals	fundamental	NOUN
ajfa-15215	69	10	in	in	ADP
ajfa-15215	69	11	pessimistic	pessimistic	ADJ
ajfa-15215	69	12	situations	situation	NOUN
ajfa-15215	69	13	.	.	PUNCT
ajfa-15215	70	1	thus	thus	ADV
ajfa-15215	70	2	in	in	ADP
ajfa-15215	70	3	market	market	NOUN
ajfa-15215	70	4	downturns	downturn	NOUN
ajfa-15215	70	5	the	the	DET
ajfa-15215	70	6	focus	focus	NOUN
ajfa-15215	70	7	shifts	shift	NOUN
ajfa-15215	70	8	from	from	ADP
ajfa-15215	70	9	value	value	NOUN
ajfa-15215	70	10	strategies	strategy	NOUN
ajfa-15215	70	11	to	to	ADP
ajfa-15215	70	12	growth	growth	NOUN
ajfa-15215	70	13	strategies	strategy	NOUN
ajfa-15215	70	14	,	,	PUNCT
ajfa-15215	70	15	where	where	SCONJ
ajfa-15215	70	16	more	more	ADJ
ajfa-15215	70	17	emphasis	emphasis	NOUN
ajfa-15215	70	18	is	be	AUX
ajfa-15215	70	19	on	on	ADP
ajfa-15215	70	20	realising	realise	VERB
ajfa-15215	70	21	benefits	benefit	NOUN
ajfa-15215	70	22	from	from	ADP
ajfa-15215	70	23	future	future	ADJ
ajfa-15215	70	24	growth	growth	NOUN
ajfa-15215	70	25	potential	potential	NOUN
ajfa-15215	70	26	.	.	PUNCT
ajfa-15215	71	1	specifically	specifically	ADV
ajfa-15215	71	2	,	,	PUNCT
ajfa-15215	71	3	this	this	DET
ajfa-15215	71	4	paper	paper	NOUN
ajfa-15215	71	5	attempts	attempt	VERB
ajfa-15215	71	6	to	to	PART
ajfa-15215	71	7	answer	answer	VERB
ajfa-15215	71	8	the	the	DET
ajfa-15215	71	9	following	follow	VERB
ajfa-15215	71	10	questions	question	NOUN
ajfa-15215	71	11	for	for	ADP
ajfa-15215	71	12	the	the	DET
ajfa-15215	71	13	indian	indian	ADJ
ajfa-15215	71	14	stock	stock	NOUN
ajfa-15215	71	15	market	market	NOUN
ajfa-15215	71	16	:	:	PUNCT
ajfa-15215	71	17	1	1	X
ajfa-15215	71	18	.	.	X
ajfa-15215	71	19	is	be	AUX
ajfa-15215	71	20	value	value	NOUN
ajfa-15215	71	21	strategy	strategy	NOUN
ajfa-15215	71	22	profitable	profitable	ADJ
ajfa-15215	71	23	?	?	PUNCT
ajfa-15215	72	1	2	2	X
ajfa-15215	72	2	.	.	X
ajfa-15215	72	3	is	be	AUX
ajfa-15215	72	4	growth	growth	NOUN
ajfa-15215	72	5	strategy	strategy	NOUN
ajfa-15215	72	6	profitable	profitable	ADJ
ajfa-15215	72	7	?	?	PUNCT
ajfa-15215	73	1	3	3	X
ajfa-15215	73	2	.	.	X
ajfa-15215	73	3	is	be	AUX
ajfa-15215	73	4	trading	trade	VERB
ajfa-15215	73	5	strategy	strategy	NOUN
ajfa-15215	73	6	based	base	VERB
ajfa-15215	73	7	on	on	ADP
ajfa-15215	73	8	growth	growth	NOUN
ajfa-15215	73	9	and	and	CCONJ
ajfa-15215	73	10	value	value	NOUN
ajfa-15215	73	11	based	base	VERB
ajfa-15215	73	12	investing	invest	VERB
ajfa-15215	73	13	more	more	ADV
ajfa-15215	73	14	profitable	profitable	ADJ
ajfa-15215	73	15	than	than	ADP
ajfa-15215	73	16	above	above	ADP
ajfa-15215	73	17	mentioned	mention	VERB
ajfa-15215	73	18	strategies	strategy	NOUN
ajfa-15215	73	19	?	?	PUNCT
ajfa-15215	74	1	4	4	X
ajfa-15215	74	2	.	.	X
ajfa-15215	74	3	do	do	AUX
ajfa-15215	74	4	standard	standard	ADJ
ajfa-15215	74	5	risk	risk	NOUN
ajfa-15215	74	6	models	model	NOUN
ajfa-15215	74	7	such	such	ADJ
ajfa-15215	74	8	as	as	ADP
ajfa-15215	74	9	capital	capital	NOUN
ajfa-15215	74	10	asset	asset	NOUN
ajfa-15215	74	11	pricing	pricing	NOUN
ajfa-15215	74	12	model	model	NOUN
ajfa-15215	74	13	(	(	PUNCT
ajfa-15215	74	14	capm	capm	PROPN
ajfa-15215	74	15	)	)	PUNCT
ajfa-15215	74	16	and	and	CCONJ
ajfa-15215	74	17	fama	fama	NOUN
ajfa-15215	74	18	-	-	PUNCT
ajfa-15215	74	19	french	french	NOUN
ajfa-15215	74	20	(	(	PUNCT
ajfa-15215	74	21	f	f	X
ajfa-15215	74	22	-	-	PUNCT
ajfa-15215	74	23	f	f	NOUN
ajfa-15215	74	24	)	)	PUNCT
ajfa-15215	74	25	three	three	NUM
ajfa-15215	74	26	factor	factor	NOUN
ajfa-15215	74	27	model	model	NOUN
ajfa-15215	74	28	(	(	PUNCT
ajfa-15215	74	29	1993	1993	NUM
ajfa-15215	74	30	)	)	PUNCT
ajfa-15215	74	31	explain	explain	VERB
ajfa-15215	74	32	returns	return	NOUN
ajfa-15215	74	33	of	of	ADP
ajfa-15215	74	34	these	these	DET
ajfa-15215	74	35	sample	sample	NOUN
ajfa-15215	74	36	strategies	strategy	NOUN
ajfa-15215	74	37	?	?	PUNCT
ajfa-15215	75	1	5	5	X
ajfa-15215	75	2	.	.	X
ajfa-15215	75	3	can	can	AUX
ajfa-15215	75	4	additional	additional	ADJ
ajfa-15215	75	5	risk	risk	NOUN
ajfa-15215	75	6	factors	factor	NOUN
ajfa-15215	75	7	given	give	VERB
ajfa-15215	75	8	by	by	ADP
ajfa-15215	75	9	fama	fama	PROPN
ajfa-15215	75	10	-	-	PUNCT
ajfa-15215	75	11	french	french	ADJ
ajfa-15215	75	12	five	five	NUM
ajfa-15215	75	13	factor	factor	NOUN
ajfa-15215	75	14	model	model	NOUN
ajfa-15215	75	15	(	(	PUNCT
ajfa-15215	75	16	2015	2015	NUM
ajfa-15215	75	17	)	)	PUNCT
ajfa-15215	75	18	explain	explain	VERB
ajfa-15215	75	19	cross	cross	NOUN
ajfa-15215	75	20	section	section	NOUN
ajfa-15215	75	21	of	of	ADP
ajfa-15215	75	22	returns	return	NOUN
ajfa-15215	75	23	for	for	ADP
ajfa-15215	75	24	portfolios	portfolio	NOUN
ajfa-15215	75	25	created	create	VERB
ajfa-15215	75	26	using	use	VERB
ajfa-15215	75	27	information	information	NOUN
ajfa-15215	75	28	on	on	ADP
ajfa-15215	75	29	value	value	NOUN
ajfa-15215	75	30	or	or	CCONJ
ajfa-15215	75	31	/	/	SYM
ajfa-15215	75	32	and	and	CCONJ
ajfa-15215	75	33	growth	growth	NOUN
ajfa-15215	75	34	?	?	PUNCT
ajfa-15215	76	1	the	the	DET
ajfa-15215	76	2	paper	paper	NOUN
ajfa-15215	76	3	is	be	AUX
ajfa-15215	76	4	divided	divide	VERB
ajfa-15215	76	5	into	into	ADP
ajfa-15215	76	6	5	5	NUM
ajfa-15215	76	7	sections	section	NOUN
ajfa-15215	76	8	including	include	VERB
ajfa-15215	76	9	the	the	DET
ajfa-15215	76	10	current	current	ADJ
ajfa-15215	76	11	one	one	NUM
ajfa-15215	76	12	.	.	PUNCT
ajfa-15215	77	1	data	datum	NOUN
ajfa-15215	77	2	used	use	VERB
ajfa-15215	77	3	and	and	CCONJ
ajfa-15215	77	4	its	its	PRON
ajfa-15215	77	5	sources	source	NOUN
ajfa-15215	77	6	are	be	AUX
ajfa-15215	77	7	given	give	VERB
ajfa-15215	77	8	in	in	ADP
ajfa-15215	77	9	section	section	NOUN
ajfa-15215	77	10	2	2	NUM
ajfa-15215	77	11	.	.	PUNCT
ajfa-15215	78	1	the	the	DET
ajfa-15215	78	2	next	next	ADJ
ajfa-15215	78	3	section	section	NOUN
ajfa-15215	78	4	describes	describe	VERB
ajfa-15215	78	5	estimation	estimation	NOUN
ajfa-15215	78	6	procedure	procedure	NOUN
ajfa-15215	78	7	and	and	CCONJ
ajfa-15215	78	8	methodology	methodology	NOUN
ajfa-15215	78	9	used	use	VERB
ajfa-15215	78	10	.	.	PUNCT
ajfa-15215	79	1	asian	asian	ADJ
ajfa-15215	79	2	journal	journal	PROPN
ajfa-15215	79	3	of	of	ADP
ajfa-15215	79	4	finance	finance	PROPN
ajfa-15215	79	5	&	&	CCONJ
ajfa-15215	79	6	accounting	accounting	PROPN
ajfa-15215	79	7	issn	issn	PROPN
ajfa-15215	79	8	1946	1946	NUM
ajfa-15215	79	9	-	-	PUNCT
ajfa-15215	79	10	052x	052x	PROPN
ajfa-15215	79	11	2019	2019	NUM
ajfa-15215	79	12	,	,	PUNCT
ajfa-15215	79	13	vol	vol	NOUN
ajfa-15215	79	14	.	.	PROPN
ajfa-15215	79	15	11	11	NUM
ajfa-15215	79	16	,	,	PUNCT
ajfa-15215	79	17	no	no	INTJ
ajfa-15215	79	18	.	.	NOUN
ajfa-15215	79	19	2	2	NUM
ajfa-15215	79	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	79	21	45	45	NUM
ajfa-15215	79	22	empirical	empirical	ADJ
ajfa-15215	79	23	results	result	NOUN
ajfa-15215	79	24	and	and	CCONJ
ajfa-15215	79	25	analysis	analysis	NOUN
ajfa-15215	79	26	are	be	AUX
ajfa-15215	79	27	discussed	discuss	VERB
ajfa-15215	79	28	in	in	ADP
ajfa-15215	79	29	section	section	NOUN
ajfa-15215	79	30	4	4	NUM
ajfa-15215	79	31	.	.	PUNCT
ajfa-15215	80	1	summary	summary	NOUN
ajfa-15215	80	2	and	and	CCONJ
ajfa-15215	80	3	concluding	conclude	VERB
ajfa-15215	80	4	observations	observation	NOUN
ajfa-15215	80	5	are	be	AUX
ajfa-15215	80	6	given	give	VERB
ajfa-15215	80	7	in	in	ADP
ajfa-15215	80	8	the	the	DET
ajfa-15215	80	9	last	last	ADJ
ajfa-15215	80	10	section	section	NOUN
ajfa-15215	80	11	.	.	PUNCT
ajfa-15215	81	1	2	2	X
ajfa-15215	81	2	.	.	X
ajfa-15215	81	3	data	datum	NOUN
ajfa-15215	81	4	this	this	DET
ajfa-15215	81	5	study	study	NOUN
ajfa-15215	81	6	uses	use	VERB
ajfa-15215	81	7	data	datum	NOUN
ajfa-15215	81	8	for	for	ADP
ajfa-15215	81	9	nse	nse	NOUN
ajfa-15215	81	10	500	500	NUM
ajfa-15215	81	11	companies	company	NOUN
ajfa-15215	81	12	from	from	ADP
ajfa-15215	81	13	december	december	PROPN
ajfa-15215	81	14	2001	2001	NUM
ajfa-15215	81	15	to	to	ADP
ajfa-15215	81	16	2017	2017	NUM
ajfa-15215	81	17	.	.	PUNCT
ajfa-15215	82	1	data	datum	NOUN
ajfa-15215	82	2	for	for	ADP
ajfa-15215	82	3	month	month	NOUN
ajfa-15215	82	4	end	end	NOUN
ajfa-15215	82	5	stock	stock	NOUN
ajfa-15215	82	6	prices	price	NOUN
ajfa-15215	82	7	is	be	AUX
ajfa-15215	82	8	used	use	VERB
ajfa-15215	82	9	which	which	PRON
ajfa-15215	82	10	is	be	AUX
ajfa-15215	82	11	adjusted	adjust	VERB
ajfa-15215	82	12	for	for	ADP
ajfa-15215	82	13	stock	stock	NOUN
ajfa-15215	82	14	dividends	dividend	NOUN
ajfa-15215	82	15	,	,	PUNCT
ajfa-15215	82	16	rights	right	NOUN
ajfa-15215	82	17	issues	issue	NOUN
ajfa-15215	82	18	and	and	CCONJ
ajfa-15215	82	19	stock	stock	NOUN
ajfa-15215	82	20	splits	split	VERB
ajfa-15215	82	21	.	.	PUNCT
ajfa-15215	83	1	for	for	ADP
ajfa-15215	83	2	further	further	ADJ
ajfa-15215	83	3	analysis	analysis	NOUN
ajfa-15215	83	4	,	,	PUNCT
ajfa-15215	83	5	they	they	PRON
ajfa-15215	83	6	are	be	AUX
ajfa-15215	83	7	converted	convert	VERB
ajfa-15215	83	8	into	into	ADP
ajfa-15215	83	9	percentage	percentage	NOUN
ajfa-15215	83	10	returns	return	NOUN
ajfa-15215	83	11	.	.	PUNCT
ajfa-15215	84	1	to	to	PART
ajfa-15215	84	2	evaluate	evaluate	VERB
ajfa-15215	84	3	value	value	NOUN
ajfa-15215	84	4	anomaly	anomaly	NOUN
ajfa-15215	84	5	,	,	PUNCT
ajfa-15215	84	6	data	datum	NOUN
ajfa-15215	84	7	for	for	ADP
ajfa-15215	84	8	price	price	NOUN
ajfa-15215	84	9	-	-	PUNCT
ajfa-15215	84	10	to	to	ADP
ajfa-15215	84	11	-	-	PUNCT
ajfa-15215	84	12	book	book	NOUN
ajfa-15215	84	13	ratio	ratio	NOUN
ajfa-15215	84	14	and	and	CCONJ
ajfa-15215	84	15	price	price	NOUN
ajfa-15215	84	16	-	-	PUNCT
ajfa-15215	84	17	to	to	ADP
ajfa-15215	84	18	-	-	PUNCT
ajfa-15215	84	19	earnings	earning	NOUN
ajfa-15215	84	20	ratio	ratio	NOUN
ajfa-15215	84	21	is	be	AUX
ajfa-15215	84	22	taken	take	VERB
ajfa-15215	84	23	at	at	ADP
ajfa-15215	84	24	the	the	DET
ajfa-15215	84	25	end	end	NOUN
ajfa-15215	84	26	of	of	ADP
ajfa-15215	84	27	december	december	PROPN
ajfa-15215	84	28	each	each	DET
ajfa-15215	84	29	year	year	NOUN
ajfa-15215	84	30	.	.	PUNCT
ajfa-15215	85	1	for	for	ADP
ajfa-15215	85	2	evaluating	evaluate	VERB
ajfa-15215	85	3	growth	growth	NOUN
ajfa-15215	85	4	anomaly	anomaly	NOUN
ajfa-15215	85	5	,	,	PUNCT
ajfa-15215	85	6	data	datum	NOUN
ajfa-15215	85	7	for	for	ADP
ajfa-15215	85	8	net	net	ADJ
ajfa-15215	85	9	sales	sale	NOUN
ajfa-15215	85	10	and	and	CCONJ
ajfa-15215	85	11	earnings	earning	NOUN
ajfa-15215	85	12	before	before	ADP
ajfa-15215	85	13	interest	interest	NOUN
ajfa-15215	85	14	,	,	PUNCT
ajfa-15215	85	15	taxes	taxis	NOUN
ajfa-15215	85	16	,	,	PUNCT
ajfa-15215	85	17	depreciation	depreciation	NOUN
ajfa-15215	85	18	and	and	CCONJ
ajfa-15215	85	19	amortisation	amortisation	NOUN
ajfa-15215	85	20	(	(	PUNCT
ajfa-15215	85	21	ebitda	ebitda	NOUN
ajfa-15215	85	22	)	)	PUNCT
ajfa-15215	85	23	is	be	AUX
ajfa-15215	85	24	used	use	VERB
ajfa-15215	85	25	.	.	PUNCT
ajfa-15215	86	1	this	this	PRON
ajfa-15215	86	2	is	be	AUX
ajfa-15215	86	3	further	far	ADV
ajfa-15215	86	4	converted	convert	VERB
ajfa-15215	86	5	into	into	ADP
ajfa-15215	86	6	growth	growth	NOUN
ajfa-15215	86	7	rate	rate	NOUN
ajfa-15215	86	8	.	.	PUNCT
ajfa-15215	87	1	for	for	ADP
ajfa-15215	87	2	each	each	DET
ajfa-15215	87	3	year	year	NOUN
ajfa-15215	87	4	’s	’s	PART
ajfa-15215	87	5	estimate	estimate	NOUN
ajfa-15215	87	6	of	of	ADP
ajfa-15215	87	7	growth	growth	NOUN
ajfa-15215	87	8	rate	rate	NOUN
ajfa-15215	87	9	,	,	PUNCT
ajfa-15215	87	10	average	average	NOUN
ajfa-15215	87	11	of	of	ADP
ajfa-15215	87	12	past	past	ADJ
ajfa-15215	87	13	5	5	NUM
ajfa-15215	87	14	years	year	NOUN
ajfa-15215	87	15	’	'	PUNCT
ajfa-15215	87	16	growth	growth	NOUN
ajfa-15215	87	17	rate	rate	NOUN
ajfa-15215	87	18	is	be	AUX
ajfa-15215	87	19	computed	compute	VERB
ajfa-15215	87	20	using	use	VERB
ajfa-15215	87	21	3	3	NUM
ajfa-15215	87	22	measures	measure	NOUN
ajfa-15215	87	23	.	.	PUNCT
ajfa-15215	88	1	estimations	estimation	NOUN
ajfa-15215	88	2	are	be	AUX
ajfa-15215	88	3	made	make	VERB
ajfa-15215	88	4	using	use	VERB
ajfa-15215	88	5	simple	simple	ADJ
ajfa-15215	88	6	average	average	NOUN
ajfa-15215	88	7	,	,	PUNCT
ajfa-15215	88	8	compound	compound	ADJ
ajfa-15215	88	9	annual	annual	ADJ
ajfa-15215	88	10	growth	growth	NOUN
ajfa-15215	88	11	rate	rate	NOUN
ajfa-15215	88	12	and	and	CCONJ
ajfa-15215	88	13	weighted	weight	VERB
ajfa-15215	88	14	average	average	ADJ
ajfa-15215	88	15	(	(	PUNCT
ajfa-15215	88	16	where	where	SCONJ
ajfa-15215	88	17	highest	high	ADJ
ajfa-15215	88	18	weightage	weightage	NOUN
ajfa-15215	88	19	is	be	AUX
ajfa-15215	88	20	given	give	VERB
ajfa-15215	88	21	to	to	ADP
ajfa-15215	88	22	the	the	DET
ajfa-15215	88	23	most	most	ADV
ajfa-15215	88	24	recent	recent	ADJ
ajfa-15215	88	25	value	value	NOUN
ajfa-15215	88	26	)	)	PUNCT
ajfa-15215	88	27	.	.	PUNCT
ajfa-15215	89	1	month	month	NOUN
ajfa-15215	89	2	end	end	NOUN
ajfa-15215	89	3	value	value	NOUN
ajfa-15215	89	4	of	of	ADP
ajfa-15215	89	5	nifty	nifty	ADJ
ajfa-15215	89	6	500	500	NUM
ajfa-15215	89	7	is	be	AUX
ajfa-15215	89	8	taken	take	VERB
ajfa-15215	89	9	which	which	PRON
ajfa-15215	89	10	is	be	AUX
ajfa-15215	89	11	further	far	ADV
ajfa-15215	89	12	converted	convert	VERB
ajfa-15215	89	13	into	into	ADP
ajfa-15215	89	14	returns	return	NOUN
ajfa-15215	89	15	to	to	PART
ajfa-15215	89	16	represent	represent	VERB
ajfa-15215	89	17	market	market	NOUN
ajfa-15215	89	18	performance	performance	NOUN
ajfa-15215	89	19	.	.	PUNCT
ajfa-15215	90	1	91	91	NUM
ajfa-15215	90	2	-	-	PUNCT
ajfa-15215	90	3	day	day	NOUN
ajfa-15215	90	4	treasury	treasury	NOUN
ajfa-15215	90	5	bill	bill	NOUN
ajfa-15215	90	6	yields	yield	NOUN
ajfa-15215	90	7	are	be	AUX
ajfa-15215	90	8	used	use	VERB
ajfa-15215	90	9	as	as	ADP
ajfa-15215	90	10	the	the	DET
ajfa-15215	90	11	risk	risk	NOUN
ajfa-15215	90	12	free	free	ADJ
ajfa-15215	90	13	proxy	proxy	NOUN
ajfa-15215	90	14	.	.	PUNCT
ajfa-15215	91	1	further	far	ADV
ajfa-15215	91	2	,	,	PUNCT
ajfa-15215	91	3	data	datum	NOUN
ajfa-15215	91	4	for	for	ADP
ajfa-15215	91	5	market	market	NOUN
ajfa-15215	91	6	capitalisation	capitalisation	NOUN
ajfa-15215	91	7	,	,	PUNCT
ajfa-15215	91	8	return	return	VERB
ajfa-15215	91	9	on	on	ADP
ajfa-15215	91	10	assets	asset	NOUN
ajfa-15215	91	11	and	and	CCONJ
ajfa-15215	91	12	total	total	ADJ
ajfa-15215	91	13	assets	asset	NOUN
ajfa-15215	91	14	is	be	AUX
ajfa-15215	91	15	taken	take	VERB
ajfa-15215	91	16	at	at	ADP
ajfa-15215	91	17	the	the	DET
ajfa-15215	91	18	end	end	NOUN
ajfa-15215	91	19	of	of	ADP
ajfa-15215	91	20	december	december	PROPN
ajfa-15215	91	21	each	each	DET
ajfa-15215	91	22	year	year	NOUN
ajfa-15215	91	23	to	to	PART
ajfa-15215	91	24	construct	construct	VERB
ajfa-15215	91	25	factors	factor	NOUN
ajfa-15215	91	26	used	use	VERB
ajfa-15215	91	27	in	in	ADP
ajfa-15215	91	28	asset	asset	NOUN
ajfa-15215	91	29	pricing	pricing	NOUN
ajfa-15215	91	30	models	model	NOUN
ajfa-15215	91	31	.	.	PUNCT
ajfa-15215	92	1	data	datum	NOUN
ajfa-15215	92	2	source	source	NOUN
ajfa-15215	92	3	:	:	PUNCT
ajfa-15215	92	4	prowess	prowess	NOUN
ajfa-15215	92	5	database	database	NOUN
ajfa-15215	92	6	,	,	PUNCT
ajfa-15215	92	7	reserve	reserve	PROPN
ajfa-15215	92	8	bank	bank	PROPN
ajfa-15215	92	9	of	of	ADP
ajfa-15215	92	10	india	india	PROPN
ajfa-15215	92	11	’s	’s	PART
ajfa-15215	92	12	website	website	NOUN
ajfa-15215	92	13	.	.	PUNCT
ajfa-15215	93	1	3	3	X
ajfa-15215	93	2	.	.	X
ajfa-15215	93	3	methodology	methodology	NOUN
ajfa-15215	93	4	this	this	DET
ajfa-15215	93	5	section	section	NOUN
ajfa-15215	93	6	describes	describe	VERB
ajfa-15215	93	7	methodology	methodology	NOUN
ajfa-15215	93	8	used	use	VERB
ajfa-15215	93	9	to	to	PART
ajfa-15215	93	10	construct	construct	VERB
ajfa-15215	93	11	univariate	univariate	ADJ
ajfa-15215	93	12	strategies	strategy	NOUN
ajfa-15215	93	13	(	(	PUNCT
ajfa-15215	93	14	based	base	VERB
ajfa-15215	93	15	on	on	ADP
ajfa-15215	93	16	price	price	NOUN
ajfa-15215	93	17	-	-	PUNCT
ajfa-15215	93	18	tobook	tobook	NOUN
ajfa-15215	93	19	ratio	ratio	NOUN
ajfa-15215	93	20	,	,	PUNCT
ajfa-15215	93	21	price	price	NOUN
ajfa-15215	93	22	-	-	PUNCT
ajfa-15215	93	23	to	to	ADP
ajfa-15215	93	24	-	-	PUNCT
ajfa-15215	93	25	earnings	earning	NOUN
ajfa-15215	93	26	ratio	ratio	NOUN
ajfa-15215	93	27	and	and	CCONJ
ajfa-15215	93	28	growth	growth	NOUN
ajfa-15215	93	29	rates	rate	NOUN
ajfa-15215	93	30	)	)	PUNCT
ajfa-15215	93	31	and	and	CCONJ
ajfa-15215	93	32	bivariate	bivariate	ADJ
ajfa-15215	93	33	strategies	strategy	NOUN
ajfa-15215	93	34	(	(	PUNCT
ajfa-15215	93	35	created	create	VERB
ajfa-15215	93	36	by	by	ADP
ajfa-15215	93	37	combining	combine	VERB
ajfa-15215	93	38	information	information	NOUN
ajfa-15215	93	39	in	in	ADP
ajfa-15215	93	40	value	value	NOUN
ajfa-15215	93	41	and	and	CCONJ
ajfa-15215	93	42	growth	growth	NOUN
ajfa-15215	93	43	)	)	PUNCT
ajfa-15215	93	44	.	.	PUNCT
ajfa-15215	94	1	we	we	PRON
ajfa-15215	94	2	use	use	VERB
ajfa-15215	94	3	12	12	NUM
ajfa-15215	94	4	-	-	SYM
ajfa-15215	94	5	12	12	NUM
ajfa-15215	94	6	trading	trading	NOUN
ajfa-15215	94	7	strategy	strategy	NOUN
ajfa-15215	94	8	with	with	ADP
ajfa-15215	94	9	formation	formation	NOUN
ajfa-15215	94	10	and	and	CCONJ
ajfa-15215	94	11	holding	holding	NOUN
ajfa-15215	94	12	period	period	NOUN
ajfa-15215	94	13	of	of	ADP
ajfa-15215	94	14	12	12	NUM
ajfa-15215	94	15	months	month	NOUN
ajfa-15215	94	16	each	each	PRON
ajfa-15215	94	17	.	.	PUNCT
ajfa-15215	95	1	to	to	PART
ajfa-15215	95	2	assess	assess	VERB
ajfa-15215	95	3	value	value	NOUN
ajfa-15215	95	4	effect	effect	NOUN
ajfa-15215	95	5	,	,	PUNCT
ajfa-15215	95	6	p	p	X
ajfa-15215	95	7	/	/	SYM
ajfa-15215	95	8	b	b	PROPN
ajfa-15215	95	9	and	and	CCONJ
ajfa-15215	95	10	p	p	NOUN
ajfa-15215	95	11	/	/	SYM
ajfa-15215	95	12	e	e	NOUN
ajfa-15215	95	13	ratios	ratio	NOUN
ajfa-15215	95	14	are	be	AUX
ajfa-15215	95	15	used	use	VERB
ajfa-15215	95	16	.	.	PUNCT
ajfa-15215	96	1	past	past	ADJ
ajfa-15215	96	2	growth	growth	NOUN
ajfa-15215	96	3	rate	rate	NOUN
ajfa-15215	96	4	in	in	ADP
ajfa-15215	96	5	net	net	ADJ
ajfa-15215	96	6	sales	sale	NOUN
ajfa-15215	96	7	and	and	CCONJ
ajfa-15215	96	8	earnings	earning	NOUN
ajfa-15215	96	9	before	before	ADP
ajfa-15215	96	10	interest	interest	NOUN
ajfa-15215	96	11	,	,	PUNCT
ajfa-15215	96	12	taxes	taxis	NOUN
ajfa-15215	96	13	,	,	PUNCT
ajfa-15215	96	14	depreciation	depreciation	NOUN
ajfa-15215	96	15	and	and	CCONJ
ajfa-15215	96	16	amortization	amortization	NOUN
ajfa-15215	96	17	(	(	PUNCT
ajfa-15215	96	18	ebitda	ebitda	NOUN
ajfa-15215	96	19	)	)	PUNCT
ajfa-15215	96	20	are	be	AUX
ajfa-15215	96	21	considered	consider	VERB
ajfa-15215	96	22	for	for	ADP
ajfa-15215	96	23	growth	growth	NOUN
ajfa-15215	96	24	rate	rate	NOUN
ajfa-15215	96	25	formation	formation	NOUN
ajfa-15215	96	26	.	.	PUNCT
ajfa-15215	97	1	for	for	ADP
ajfa-15215	97	2	the	the	DET
ajfa-15215	97	3	first	first	ADJ
ajfa-15215	97	4	formation	formation	NOUN
ajfa-15215	97	5	period	period	NOUN
ajfa-15215	97	6	,	,	PUNCT
ajfa-15215	97	7	value	value	NOUN
ajfa-15215	97	8	ratios	ratio	NOUN
ajfa-15215	97	9	as	as	SCONJ
ajfa-15215	97	10	on	on	ADP
ajfa-15215	97	11	december	december	PROPN
ajfa-15215	97	12	2006	2006	NUM
ajfa-15215	97	13	are	be	AUX
ajfa-15215	97	14	taken	take	VERB
ajfa-15215	97	15	and	and	CCONJ
ajfa-15215	97	16	average	average	ADJ
ajfa-15215	97	17	growth	growth	NOUN
ajfa-15215	97	18	rate	rate	NOUN
ajfa-15215	97	19	estimation	estimation	NOUN
ajfa-15215	97	20	is	be	AUX
ajfa-15215	97	21	made	make	VERB
ajfa-15215	97	22	using	use	VERB
ajfa-15215	97	23	net	net	ADJ
ajfa-15215	97	24	sales	sale	NOUN
ajfa-15215	97	25	and	and	CCONJ
ajfa-15215	97	26	ebitda	ebitda	NOUN
ajfa-15215	97	27	values	value	NOUN
ajfa-15215	97	28	from	from	ADP
ajfa-15215	97	29	december	december	PROPN
ajfa-15215	97	30	2001	2001	NUM
ajfa-15215	97	31	to	to	ADP
ajfa-15215	97	32	december	december	PROPN
ajfa-15215	97	33	2006	2006	NUM
ajfa-15215	98	1	[	[	X
ajfa-15215	98	2	2	2	NUM
ajfa-15215	98	3	]	]	PUNCT
ajfa-15215	98	4	.	.	PUNCT
ajfa-15215	99	1	annual	annual	ADJ
ajfa-15215	99	2	growth	growth	NOUN
ajfa-15215	99	3	rate	rate	NOUN
ajfa-15215	99	4	for	for	ADP
ajfa-15215	99	5	5	5	NUM
ajfa-15215	99	6	years	year	NOUN
ajfa-15215	99	7	prior	prior	ADV
ajfa-15215	99	8	to	to	ADP
ajfa-15215	99	9	portfolio	portfolio	NOUN
ajfa-15215	99	10	formation	formation	NOUN
ajfa-15215	99	11	is	be	AUX
ajfa-15215	99	12	estimated	estimate	VERB
ajfa-15215	99	13	,	,	PUNCT
ajfa-15215	99	14	which	which	PRON
ajfa-15215	99	15	is	be	AUX
ajfa-15215	99	16	further	far	ADV
ajfa-15215	99	17	used	use	VERB
ajfa-15215	99	18	to	to	PART
ajfa-15215	99	19	compute	compute	VERB
ajfa-15215	99	20	average	average	ADJ
ajfa-15215	99	21	growth	growth	NOUN
ajfa-15215	99	22	rate	rate	NOUN
ajfa-15215	99	23	using	use	VERB
ajfa-15215	99	24	3	3	NUM
ajfa-15215	99	25	construction	construction	NOUN
ajfa-15215	99	26	methods	method	NOUN
ajfa-15215	99	27	;	;	PUNCT
ajfa-15215	99	28	namely	namely	ADV
ajfa-15215	99	29	simple	simple	ADJ
ajfa-15215	99	30	average	average	ADJ
ajfa-15215	99	31	growth	growth	NOUN
ajfa-15215	99	32	rate	rate	NOUN
ajfa-15215	99	33	,	,	PUNCT
ajfa-15215	99	34	weighted	weight	VERB
ajfa-15215	99	35	average	average	ADJ
ajfa-15215	99	36	growth	growth	NOUN
ajfa-15215	99	37	rate	rate	NOUN
ajfa-15215	99	38	and	and	CCONJ
ajfa-15215	99	39	compound	compound	VERB
ajfa-15215	99	40	annual	annual	ADJ
ajfa-15215	99	41	growth	growth	NOUN
ajfa-15215	99	42	rate	rate	NOUN
ajfa-15215	99	43	.	.	PUNCT
ajfa-15215	100	1	annual	annual	ADJ
ajfa-15215	100	2	growth	growth	NOUN
ajfa-15215	100	3	is	be	AUX
ajfa-15215	100	4	computed	compute	VERB
ajfa-15215	100	5	by	by	ADP
ajfa-15215	100	6	subtracting	subtract	VERB
ajfa-15215	100	7	net	net	ADJ
ajfa-15215	100	8	sales	sale	NOUN
ajfa-15215	100	9	(	(	PUNCT
ajfa-15215	100	10	ebitda	ebitda	NOUN
ajfa-15215	100	11	)	)	PUNCT
ajfa-15215	100	12	in	in	ADP
ajfa-15215	100	13	year	year	NOUN
ajfa-15215	100	14	‘	'	PUNCT
ajfa-15215	100	15	t-1	t-1	PROPN
ajfa-15215	100	16	’	'	PUNCT
ajfa-15215	100	17	from	from	ADP
ajfa-15215	100	18	net	net	ADJ
ajfa-15215	100	19	sales	sale	NOUN
ajfa-15215	100	20	(	(	PUNCT
ajfa-15215	100	21	ebitda	ebitda	NOUN
ajfa-15215	100	22	)	)	PUNCT
ajfa-15215	100	23	in	in	ADP
ajfa-15215	100	24	year	year	NOUN
ajfa-15215	100	25	‘	'	PUNCT
ajfa-15215	100	26	t	t	NOUN
ajfa-15215	100	27	’	'	PUNCT
ajfa-15215	100	28	,	,	PUNCT
ajfa-15215	100	29	which	which	PRON
ajfa-15215	100	30	is	be	AUX
ajfa-15215	100	31	divided	divide	VERB
ajfa-15215	100	32	by	by	ADP
ajfa-15215	100	33	net	net	ADJ
ajfa-15215	100	34	sales	sale	NOUN
ajfa-15215	100	35	(	(	PUNCT
ajfa-15215	100	36	ebitda	ebitda	NOUN
ajfa-15215	100	37	)	)	PUNCT
ajfa-15215	100	38	in	in	ADP
ajfa-15215	100	39	year	year	NOUN
ajfa-15215	100	40	‘	'	PUNCT
ajfa-15215	100	41	t-1	t-1	PROPN
ajfa-15215	100	42	’	'	PUNCT
ajfa-15215	100	43	.	.	PUNCT
ajfa-15215	101	1	this	this	PRON
ajfa-15215	101	2	creates	create	VERB
ajfa-15215	101	3	5	5	NUM
ajfa-15215	101	4	annual	annual	ADJ
ajfa-15215	101	5	growth	growth	NOUN
ajfa-15215	101	6	estimates	estimate	NOUN
ajfa-15215	101	7	from	from	ADP
ajfa-15215	101	8	december	december	PROPN
ajfa-15215	101	9	2001	2001	NUM
ajfa-15215	101	10	to	to	ADP
ajfa-15215	101	11	december	december	PROPN
ajfa-15215	101	12	2006	2006	NUM
ajfa-15215	101	13	,	,	PUNCT
ajfa-15215	101	14	which	which	PRON
ajfa-15215	101	15	are	be	AUX
ajfa-15215	101	16	labelled	label	VERB
ajfa-15215	101	17	as	as	ADP
ajfa-15215	101	18	g1	g1	NOUN
ajfa-15215	101	19	,	,	PUNCT
ajfa-15215	101	20	g2	g2	PROPN
ajfa-15215	101	21	,	,	PUNCT
ajfa-15215	101	22	g3	g3	NOUN
ajfa-15215	101	23	,	,	PUNCT
ajfa-15215	101	24	g4	g4	NOUN
ajfa-15215	101	25	and	and	CCONJ
ajfa-15215	101	26	g5	g5	NOUN
ajfa-15215	101	27	respectively	respectively	ADV
ajfa-15215	101	28	.	.	PUNCT
ajfa-15215	102	1	simple	simple	ADJ
ajfa-15215	102	2	average	average	NOUN
ajfa-15215	102	3	of	of	ADP
ajfa-15215	102	4	these	these	DET
ajfa-15215	102	5	growth	growth	NOUN
ajfa-15215	102	6	rates	rate	NOUN
ajfa-15215	102	7	is	be	AUX
ajfa-15215	102	8	calculated	calculate	VERB
ajfa-15215	102	9	using	use	VERB
ajfa-15215	102	10	arithmetic	arithmetic	ADJ
ajfa-15215	102	11	mean	mean	NOUN
ajfa-15215	102	12	formula	formula	NOUN
ajfa-15215	102	13	.	.	PUNCT
ajfa-15215	103	1	weighted	weight	VERB
ajfa-15215	103	2	average	average	ADJ
ajfa-15215	103	3	growth	growth	NOUN
ajfa-15215	103	4	rate	rate	NOUN
ajfa-15215	103	5	is	be	AUX
ajfa-15215	103	6	calculated	calculate	VERB
ajfa-15215	103	7	by	by	ADP
ajfa-15215	103	8	giving	give	VERB
ajfa-15215	103	9	maximum	maximum	ADJ
ajfa-15215	103	10	weightage	weightage	NOUN
ajfa-15215	103	11	to	to	ADP
ajfa-15215	103	12	latest	late	ADJ
ajfa-15215	103	13	year	year	NOUN
ajfa-15215	103	14	’s	’s	PART
ajfa-15215	103	15	growth	growth	NOUN
ajfa-15215	103	16	rate	rate	NOUN
ajfa-15215	103	17	and	and	CCONJ
ajfa-15215	103	18	least	least	ADJ
ajfa-15215	103	19	weightage	weightage	NOUN
ajfa-15215	103	20	is	be	AUX
ajfa-15215	103	21	given	give	VERB
ajfa-15215	103	22	to	to	ADP
ajfa-15215	103	23	the	the	DET
ajfa-15215	103	24	earliest	early	ADJ
ajfa-15215	103	25	annual	annual	ADJ
ajfa-15215	103	26	growth	growth	NOUN
ajfa-15215	103	27	rate	rate	NOUN
ajfa-15215	103	28	.	.	PUNCT
ajfa-15215	104	1	the	the	DET
ajfa-15215	104	2	following	follow	VERB
ajfa-15215	104	3	asian	asian	ADJ
ajfa-15215	104	4	journal	journal	NOUN
ajfa-15215	104	5	of	of	ADP
ajfa-15215	104	6	finance	finance	PROPN
ajfa-15215	104	7	&	&	CCONJ
ajfa-15215	104	8	accounting	accounting	PROPN
ajfa-15215	104	9	issn	issn	PROPN
ajfa-15215	104	10	1946	1946	NUM
ajfa-15215	104	11	-	-	PUNCT
ajfa-15215	104	12	052x	052x	PROPN
ajfa-15215	104	13	2019	2019	NUM
ajfa-15215	104	14	,	,	PUNCT
ajfa-15215	104	15	vol	vol	NOUN
ajfa-15215	104	16	.	.	PROPN
ajfa-15215	104	17	11	11	NUM
ajfa-15215	104	18	,	,	PUNCT
ajfa-15215	104	19	no	no	INTJ
ajfa-15215	104	20	.	.	NOUN
ajfa-15215	104	21	2	2	NUM
ajfa-15215	104	22	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	104	23	46	46	NUM
ajfa-15215	104	24	formula	formula	NOUN
ajfa-15215	104	25	describes	describe	VERB
ajfa-15215	104	26	calculation	calculation	NOUN
ajfa-15215	104	27	of	of	ADP
ajfa-15215	104	28	weighted	weight	VERB
ajfa-15215	104	29	average	average	ADJ
ajfa-15215	104	30	:	:	PUNCT
ajfa-15215	104	31	5	5	NUM
ajfa-15215	104	32	∑	∑	PROPN
ajfa-15215	104	33	(	(	PUNCT
ajfa-15215	104	34	wi	wi	PROPN
ajfa-15215	104	35	)	)	PUNCT
ajfa-15215	104	36	(	(	PUNCT
ajfa-15215	104	37	gi	gi	INTJ
ajfa-15215	104	38	)	)	PUNCT
ajfa-15215	104	39	i=1	i=1	ADP
ajfa-15215	104	40	5	5	NUM
ajfa-15215	105	1	where	where	SCONJ
ajfa-15215	105	2	,	,	PUNCT
ajfa-15215	105	3	wi	wi	PROPN
ajfa-15215	105	4	=	=	PROPN
ajfa-15215	105	5	i/	i/	PROPN
ajfa-15215	105	6	∑	∑	PROPN
ajfa-15215	105	7	(	(	PUNCT
ajfa-15215	105	8	i	i	NOUN
ajfa-15215	105	9	)	)	PUNCT
ajfa-15215	105	10	i=1	i=1	PROPN
ajfa-15215	105	11	compound	compound	VERB
ajfa-15215	105	12	annual	annual	ADJ
ajfa-15215	105	13	growth	growth	NOUN
ajfa-15215	105	14	rate	rate	NOUN
ajfa-15215	105	15	is	be	AUX
ajfa-15215	105	16	estimated	estimate	VERB
ajfa-15215	105	17	using	use	VERB
ajfa-15215	105	18	geometric	geometric	ADJ
ajfa-15215	105	19	mean	mean	ADJ
ajfa-15215	105	20	formula	formula	NOUN
ajfa-15215	105	21	.	.	PUNCT
ajfa-15215	106	1	the	the	DET
ajfa-15215	106	2	construction	construction	NOUN
ajfa-15215	106	3	methodology	methodology	NOUN
ajfa-15215	106	4	used	use	VERB
ajfa-15215	106	5	is	be	AUX
ajfa-15215	106	6	suggested	suggest	VERB
ajfa-15215	106	7	by	by	ADP
ajfa-15215	106	8	sehgal	sehgal	PROPN
ajfa-15215	106	9	and	and	CCONJ
ajfa-15215	106	10	balakrishnan	balakrishnan	PROPN
ajfa-15215	106	11	(	(	PUNCT
ajfa-15215	106	12	2013	2013	NUM
ajfa-15215	106	13	)	)	PUNCT
ajfa-15215	106	14	.	.	PUNCT
ajfa-15215	107	1	the	the	DET
ajfa-15215	107	2	process	process	NOUN
ajfa-15215	107	3	of	of	ADP
ajfa-15215	107	4	estimating	estimate	VERB
ajfa-15215	107	5	value	value	NOUN
ajfa-15215	107	6	and	and	CCONJ
ajfa-15215	107	7	growth	growth	NOUN
ajfa-15215	107	8	is	be	AUX
ajfa-15215	107	9	repeated	repeat	VERB
ajfa-15215	107	10	each	each	DET
ajfa-15215	107	11	year	year	NOUN
ajfa-15215	107	12	for	for	ADP
ajfa-15215	107	13	successive	successive	ADJ
ajfa-15215	107	14	formation	formation	NOUN
ajfa-15215	107	15	periods	period	NOUN
ajfa-15215	107	16	.	.	PUNCT
ajfa-15215	108	1	to	to	PART
ajfa-15215	108	2	estimate	estimate	VERB
ajfa-15215	108	3	profitability	profitability	NOUN
ajfa-15215	108	4	of	of	ADP
ajfa-15215	108	5	value	value	NOUN
ajfa-15215	108	6	strategies	strategy	NOUN
ajfa-15215	108	7	,	,	PUNCT
ajfa-15215	108	8	stocks	stock	NOUN
ajfa-15215	108	9	are	be	AUX
ajfa-15215	108	10	sorted	sort	VERB
ajfa-15215	108	11	into	into	ADP
ajfa-15215	108	12	10	10	NUM
ajfa-15215	108	13	equally	equally	ADV
ajfa-15215	108	14	-	-	PUNCT
ajfa-15215	108	15	weighted	weight	VERB
ajfa-15215	108	16	portfolios	portfolio	NOUN
ajfa-15215	108	17	on	on	ADP
ajfa-15215	108	18	the	the	DET
ajfa-15215	108	19	basis	basis	NOUN
ajfa-15215	108	20	of	of	ADP
ajfa-15215	108	21	p	p	PROPN
ajfa-15215	108	22	/	/	SYM
ajfa-15215	108	23	b	b	PROPN
ajfa-15215	108	24	and	and	CCONJ
ajfa-15215	108	25	p	p	NOUN
ajfa-15215	108	26	/	/	SYM
ajfa-15215	108	27	e	e	NOUN
ajfa-15215	108	28	ratios	ratio	NOUN
ajfa-15215	108	29	at	at	ADP
ajfa-15215	108	30	the	the	DET
ajfa-15215	108	31	end	end	NOUN
ajfa-15215	108	32	of	of	ADP
ajfa-15215	108	33	december	december	PROPN
ajfa-15215	108	34	each	each	DET
ajfa-15215	108	35	year	year	NOUN
ajfa-15215	108	36	(	(	PUNCT
ajfa-15215	108	37	t	t	PROPN
ajfa-15215	108	38	)	)	PUNCT
ajfa-15215	108	39	.	.	PUNCT
ajfa-15215	109	1	their	their	PRON
ajfa-15215	109	2	returns	return	NOUN
ajfa-15215	109	3	for	for	ADP
ajfa-15215	109	4	the	the	DET
ajfa-15215	109	5	next	next	ADJ
ajfa-15215	109	6	12	12	NUM
ajfa-15215	109	7	months	month	NOUN
ajfa-15215	109	8	(	(	PUNCT
ajfa-15215	109	9	january	january	NOUN
ajfa-15215	109	10	to	to	ADP
ajfa-15215	109	11	december	december	PROPN
ajfa-15215	109	12	of	of	ADP
ajfa-15215	109	13	year	year	NOUN
ajfa-15215	109	14	t+1	t+1	NUM
ajfa-15215	109	15	)	)	PUNCT
ajfa-15215	109	16	are	be	AUX
ajfa-15215	109	17	observed	observe	VERB
ajfa-15215	109	18	.	.	PUNCT
ajfa-15215	110	1	portfolio	portfolio	PROPN
ajfa-15215	110	2	pe1(pb1	pe1(pb1	PROPN
ajfa-15215	110	3	)	)	PUNCT
ajfa-15215	110	4	consists	consist	VERB
ajfa-15215	110	5	of	of	ADP
ajfa-15215	110	6	stocks	stock	NOUN
ajfa-15215	110	7	with	with	ADP
ajfa-15215	110	8	lowest	low	ADJ
ajfa-15215	110	9	p	p	X
ajfa-15215	110	10	/	/	SYM
ajfa-15215	110	11	e(p	e(p	NOUN
ajfa-15215	110	12	/	/	SYM
ajfa-15215	110	13	b	b	NOUN
ajfa-15215	110	14	)	)	PUNCT
ajfa-15215	110	15	ratio	ratio	NOUN
ajfa-15215	110	16	and	and	CCONJ
ajfa-15215	110	17	stocks	stock	NOUN
ajfa-15215	110	18	with	with	ADP
ajfa-15215	110	19	the	the	DET
ajfa-15215	110	20	highest	high	ADJ
ajfa-15215	110	21	p	p	X
ajfa-15215	110	22	/	/	SYM
ajfa-15215	110	23	e(p	e(p	NOUN
ajfa-15215	110	24	/	/	SYM
ajfa-15215	110	25	b	b	NOUN
ajfa-15215	110	26	)	)	PUNCT
ajfa-15215	110	27	ratio	ratio	NOUN
ajfa-15215	110	28	are	be	AUX
ajfa-15215	110	29	a	a	DET
ajfa-15215	110	30	part	part	NOUN
ajfa-15215	110	31	of	of	ADP
ajfa-15215	110	32	portfolio	portfolio	NOUN
ajfa-15215	110	33	pe10(pb10	pe10(pb10	NOUN
ajfa-15215	110	34	)	)	PUNCT
ajfa-15215	110	35	.	.	PUNCT
ajfa-15215	111	1	similarly	similarly	ADV
ajfa-15215	111	2	,	,	PUNCT
ajfa-15215	111	3	to	to	PART
ajfa-15215	111	4	evaluate	evaluate	VERB
ajfa-15215	111	5	profitability	profitability	NOUN
ajfa-15215	111	6	of	of	ADP
ajfa-15215	111	7	growth	growth	NOUN
ajfa-15215	111	8	strategies	strategy	NOUN
ajfa-15215	111	9	,	,	PUNCT
ajfa-15215	111	10	past	past	ADJ
ajfa-15215	111	11	5	5	NUM
ajfa-15215	111	12	years	year	NOUN
ajfa-15215	111	13	’	'	PUNCT
ajfa-15215	111	14	average	average	ADJ
ajfa-15215	111	15	growth	growth	NOUN
ajfa-15215	111	16	rate	rate	NOUN
ajfa-15215	111	17	in	in	ADP
ajfa-15215	111	18	net	net	ADJ
ajfa-15215	111	19	sales	sale	NOUN
ajfa-15215	111	20	and	and	CCONJ
ajfa-15215	111	21	earnings	earning	NOUN
ajfa-15215	111	22	is	be	AUX
ajfa-15215	111	23	taken	take	VERB
ajfa-15215	111	24	as	as	ADP
ajfa-15215	111	25	the	the	DET
ajfa-15215	111	26	ranking	ranking	NOUN
ajfa-15215	111	27	criterion	criterion	NOUN
ajfa-15215	111	28	.	.	PUNCT
ajfa-15215	112	1	on	on	ADP
ajfa-15215	112	2	the	the	DET
ajfa-15215	112	3	basis	basis	NOUN
ajfa-15215	112	4	of	of	ADP
ajfa-15215	112	5	growth	growth	NOUN
ajfa-15215	112	6	rate	rate	NOUN
ajfa-15215	112	7	at	at	ADP
ajfa-15215	112	8	the	the	DET
ajfa-15215	112	9	end	end	NOUN
ajfa-15215	112	10	of	of	ADP
ajfa-15215	112	11	december	december	PROPN
ajfa-15215	112	12	each	each	DET
ajfa-15215	112	13	year	year	NOUN
ajfa-15215	112	14	(	(	PUNCT
ajfa-15215	112	15	t	t	NOUN
ajfa-15215	112	16	)	)	PUNCT
ajfa-15215	112	17	we	we	PRON
ajfa-15215	112	18	sort	sort	VERB
ajfa-15215	112	19	securities	security	NOUN
ajfa-15215	112	20	into	into	ADP
ajfa-15215	112	21	10	10	NUM
ajfa-15215	112	22	equally	equally	ADV
ajfa-15215	112	23	-	-	PUNCT
ajfa-15215	112	24	weighted	weight	VERB
ajfa-15215	112	25	portfolios	portfolio	NOUN
ajfa-15215	112	26	.	.	PUNCT
ajfa-15215	113	1	portfolios	portfolio	NOUN
ajfa-15215	113	2	with	with	ADP
ajfa-15215	113	3	low	low	ADJ
ajfa-15215	113	4	growth	growth	NOUN
ajfa-15215	113	5	rate	rate	NOUN
ajfa-15215	113	6	in	in	ADP
ajfa-15215	113	7	past	past	ADJ
ajfa-15215	113	8	net	net	ADJ
ajfa-15215	113	9	sales	sale	NOUN
ajfa-15215	113	10	(	(	PUNCT
ajfa-15215	113	11	earnings	earning	NOUN
ajfa-15215	113	12	)	)	PUNCT
ajfa-15215	113	13	are	be	AUX
ajfa-15215	113	14	labelled	label	VERB
ajfa-15215	113	15	as	as	ADP
ajfa-15215	113	16	ns1sa	ns1sa	NOUN
ajfa-15215	113	17	(	(	PUNCT
ajfa-15215	113	18	e1sa	e1sa	NOUN
ajfa-15215	113	19	)	)	PUNCT
ajfa-15215	113	20	,	,	PUNCT
ajfa-15215	113	21	ns1wa	ns1wa	ADJ
ajfa-15215	113	22	(	(	PUNCT
ajfa-15215	113	23	e1wa	e1wa	ADJ
ajfa-15215	113	24	)	)	PUNCT
ajfa-15215	113	25	,	,	PUNCT
ajfa-15215	113	26	ns1cagr(e1cagr	ns1cagr(e1cagr	PROPN
ajfa-15215	113	27	)	)	PUNCT
ajfa-15215	113	28	where	where	SCONJ
ajfa-15215	113	29	sub	sub	NOUN
ajfa-15215	113	30	-	-	ADJ
ajfa-15215	113	31	scripts	scripts	ADJ
ajfa-15215	113	32	sa	sa	NOUN
ajfa-15215	113	33	,	,	PUNCT
ajfa-15215	113	34	wa	wa	ADV
ajfa-15215	113	35	and	and	CCONJ
ajfa-15215	113	36	cagr	cagr	PROPN
ajfa-15215	113	37	represent	represent	VERB
ajfa-15215	113	38	simple	simple	ADJ
ajfa-15215	113	39	average	average	NOUN
ajfa-15215	113	40	,	,	PUNCT
ajfa-15215	113	41	weighted	weight	VERB
ajfa-15215	113	42	average	average	ADJ
ajfa-15215	113	43	and	and	CCONJ
ajfa-15215	113	44	compound	compound	VERB
ajfa-15215	113	45	annual	annual	ADJ
ajfa-15215	113	46	growth	growth	NOUN
ajfa-15215	113	47	rate	rate	NOUN
ajfa-15215	113	48	method	method	NOUN
ajfa-15215	113	49	of	of	ADP
ajfa-15215	113	50	computing	compute	VERB
ajfa-15215	113	51	average	average	ADJ
ajfa-15215	113	52	growth	growth	NOUN
ajfa-15215	113	53	rate	rate	NOUN
ajfa-15215	113	54	.	.	PUNCT
ajfa-15215	114	1	similarly	similarly	ADV
ajfa-15215	114	2	,	,	PUNCT
ajfa-15215	114	3	portfolios	portfolio	NOUN
ajfa-15215	114	4	with	with	ADP
ajfa-15215	114	5	high	high	ADJ
ajfa-15215	114	6	past	past	NOUN
ajfa-15215	114	7	sales	sale	NOUN
ajfa-15215	114	8	(	(	PUNCT
ajfa-15215	114	9	earnings	earning	NOUN
ajfa-15215	114	10	)	)	PUNCT
ajfa-15215	114	11	growth	growth	NOUN
ajfa-15215	114	12	are	be	AUX
ajfa-15215	114	13	labelled	label	VERB
ajfa-15215	114	14	as	as	ADP
ajfa-15215	114	15	ns10	ns10	PROPN
ajfa-15215	114	16	sa	sa	PROPN
ajfa-15215	114	17	(	(	PUNCT
ajfa-15215	114	18	e10sa	e10sa	NOUN
ajfa-15215	114	19	)	)	PUNCT
ajfa-15215	114	20	,	,	PUNCT
ajfa-15215	114	21	ns10wa(e10wa	ns10wa(e10wa	NOUN
ajfa-15215	114	22	)	)	PUNCT
ajfa-15215	114	23	,	,	PUNCT
ajfa-15215	114	24	ns10cagr(e10cagr	ns10cagr(e10cagr	NUM
ajfa-15215	114	25	)	)	PUNCT
ajfa-15215	114	26	.	.	PUNCT
ajfa-15215	115	1	subscripts	subscript	NOUN
ajfa-15215	115	2	have	have	VERB
ajfa-15215	115	3	the	the	DET
ajfa-15215	115	4	same	same	ADJ
ajfa-15215	115	5	meaning	meaning	NOUN
ajfa-15215	115	6	as	as	SCONJ
ajfa-15215	115	7	described	describe	VERB
ajfa-15215	115	8	earlier	early	ADV
ajfa-15215	115	9	.	.	PUNCT
ajfa-15215	116	1	returns	return	NOUN
ajfa-15215	116	2	of	of	ADP
ajfa-15215	116	3	these	these	DET
ajfa-15215	116	4	portfolios	portfolio	NOUN
ajfa-15215	116	5	are	be	AUX
ajfa-15215	116	6	observed	observe	VERB
ajfa-15215	116	7	for	for	ADP
ajfa-15215	116	8	the	the	DET
ajfa-15215	116	9	next	next	ADJ
ajfa-15215	116	10	12	12	NUM
ajfa-15215	116	11	months	month	NOUN
ajfa-15215	116	12	(	(	PUNCT
ajfa-15215	116	13	january	january	NOUN
ajfa-15215	116	14	to	to	ADP
ajfa-15215	116	15	december	december	PROPN
ajfa-15215	116	16	of	of	ADP
ajfa-15215	116	17	year	year	NOUN
ajfa-15215	116	18	t+1	t+1	NUM
ajfa-15215	116	19	)	)	PUNCT
ajfa-15215	116	20	.	.	PUNCT
ajfa-15215	117	1	the	the	DET
ajfa-15215	117	2	process	process	NOUN
ajfa-15215	117	3	is	be	AUX
ajfa-15215	117	4	repeated	repeat	VERB
ajfa-15215	117	5	each	each	DET
ajfa-15215	117	6	year	year	NOUN
ajfa-15215	117	7	and	and	CCONJ
ajfa-15215	117	8	portfolios	portfolio	NOUN
ajfa-15215	117	9	are	be	AUX
ajfa-15215	117	10	rebalanced	rebalance	VERB
ajfa-15215	117	11	annually	annually	ADV
ajfa-15215	117	12	based	base	VERB
ajfa-15215	117	13	on	on	ADP
ajfa-15215	117	14	new	new	ADJ
ajfa-15215	117	15	information	information	NOUN
ajfa-15215	117	16	in	in	ADP
ajfa-15215	117	17	value	value	NOUN
ajfa-15215	117	18	and	and	CCONJ
ajfa-15215	117	19	growth	growth	NOUN
ajfa-15215	117	20	,	,	PUNCT
ajfa-15215	117	21	thereby	thereby	ADV
ajfa-15215	117	22	creating	create	VERB
ajfa-15215	117	23	a	a	DET
ajfa-15215	117	24	return	return	NOUN
ajfa-15215	117	25	series	series	NOUN
ajfa-15215	117	26	from	from	ADP
ajfa-15215	117	27	january	january	PROPN
ajfa-15215	117	28	2007	2007	NUM
ajfa-15215	117	29	to	to	ADP
ajfa-15215	117	30	december	december	PROPN
ajfa-15215	117	31	2017	2017	NUM
ajfa-15215	117	32	.	.	PUNCT
ajfa-15215	118	1	for	for	ADP
ajfa-15215	118	2	value	value	NOUN
ajfa-15215	118	3	strategies	strategy	NOUN
ajfa-15215	118	4	,	,	PUNCT
ajfa-15215	118	5	we	we	PRON
ajfa-15215	118	6	obtain	obtain	VERB
ajfa-15215	118	7	maximum	maximum	ADJ
ajfa-15215	118	8	return	return	NOUN
ajfa-15215	118	9	differential	differential	NOUN
ajfa-15215	118	10	in	in	ADP
ajfa-15215	118	11	p	p	PROPN
ajfa-15215	118	12	/	/	SYM
ajfa-15215	118	13	e	e	NOUN
ajfa-15215	118	14	sorted	sort	VERB
ajfa-15215	118	15	portfolios	portfolio	NOUN
ajfa-15215	118	16	(	(	PUNCT
ajfa-15215	118	17	i.e.	i.e.	X
ajfa-15215	118	18	pe1pe10	pe1pe10	NOUN
ajfa-15215	118	19	)	)	PUNCT
ajfa-15215	118	20	and	and	CCONJ
ajfa-15215	118	21	in	in	ADP
ajfa-15215	118	22	growth	growth	NOUN
ajfa-15215	118	23	strategies	strategy	NOUN
ajfa-15215	118	24	,	,	PUNCT
ajfa-15215	118	25	best	good	ADJ
ajfa-15215	118	26	results	result	NOUN
ajfa-15215	118	27	are	be	AUX
ajfa-15215	118	28	observed	observe	VERB
ajfa-15215	118	29	in	in	ADP
ajfa-15215	118	30	ebtida	ebtida	DET
ajfa-15215	118	31	simple	simple	ADJ
ajfa-15215	118	32	average	average	ADJ
ajfa-15215	118	33	growth	growth	NOUN
ajfa-15215	118	34	based	base	VERB
ajfa-15215	118	35	portfolios	portfolio	NOUN
ajfa-15215	118	36	(	(	PUNCT
ajfa-15215	118	37	i.e.	i.e.	X
ajfa-15215	118	38	e10sa	e10sa	X
ajfa-15215	118	39	e1sa	e1sa	NOUN
ajfa-15215	118	40	)	)	PUNCT
ajfa-15215	118	41	amongst	amongst	ADP
ajfa-15215	118	42	all	all	DET
ajfa-15215	118	43	univariate	univariate	ADJ
ajfa-15215	118	44	growth	growth	NOUN
ajfa-15215	118	45	sample	sample	NOUN
ajfa-15215	118	46	strategies	strategy	NOUN
ajfa-15215	118	47	.	.	PUNCT
ajfa-15215	119	1	henceforth	henceforth	ADV
ajfa-15215	119	2	,	,	PUNCT
ajfa-15215	119	3	these	these	DET
ajfa-15215	119	4	two	two	NUM
ajfa-15215	119	5	strategies	strategy	NOUN
ajfa-15215	119	6	are	be	AUX
ajfa-15215	119	7	used	use	VERB
ajfa-15215	119	8	for	for	ADP
ajfa-15215	119	9	all	all	DET
ajfa-15215	119	10	further	further	ADJ
ajfa-15215	119	11	analysis	analysis	NOUN
ajfa-15215	119	12	.	.	PUNCT
ajfa-15215	120	1	using	use	VERB
ajfa-15215	120	2	these	these	DET
ajfa-15215	120	3	investment	investment	NOUN
ajfa-15215	120	4	styles	style	NOUN
ajfa-15215	120	5	,	,	PUNCT
ajfa-15215	120	6	bivariate	bivariate	ADJ
ajfa-15215	120	7	strategies	strategy	NOUN
ajfa-15215	120	8	are	be	AUX
ajfa-15215	120	9	employed	employ	VERB
ajfa-15215	120	10	to	to	PART
ajfa-15215	120	11	analyse	analyse	VERB
ajfa-15215	120	12	profitability	profitability	NOUN
ajfa-15215	120	13	of	of	ADP
ajfa-15215	120	14	combined	combined	ADJ
ajfa-15215	120	15	information	information	NOUN
ajfa-15215	120	16	contained	contain	VERB
ajfa-15215	120	17	in	in	ADP
ajfa-15215	120	18	growth	growth	NOUN
ajfa-15215	120	19	and	and	CCONJ
ajfa-15215	120	20	value	value	NOUN
ajfa-15215	120	21	.	.	PUNCT
ajfa-15215	121	1	three	three	NUM
ajfa-15215	121	2	types	type	NOUN
ajfa-15215	121	3	of	of	ADP
ajfa-15215	121	4	bivariate	bivariate	ADJ
ajfa-15215	121	5	sorted	sorted	ADJ
ajfa-15215	121	6	strategiesindependent	strategiesindependent	NOUN
ajfa-15215	121	7	,	,	PUNCT
ajfa-15215	121	8	conditional	conditional	ADJ
ajfa-15215	121	9	i	i	PROPN
ajfa-15215	121	10	and	and	CCONJ
ajfa-15215	121	11	conditional	conditional	PROPN
ajfa-15215	121	12	ii	ii	PROPN
ajfa-15215	121	13	are	be	AUX
ajfa-15215	121	14	used	use	VERB
ajfa-15215	121	15	.	.	PUNCT
ajfa-15215	122	1	in	in	ADP
ajfa-15215	122	2	independent	independent	ADJ
ajfa-15215	122	3	sorted	sorted	ADJ
ajfa-15215	122	4	strategy	strategy	NOUN
ajfa-15215	122	5	,	,	PUNCT
ajfa-15215	122	6	securities	security	NOUN
ajfa-15215	122	7	are	be	AUX
ajfa-15215	122	8	first	first	ADV
ajfa-15215	122	9	ranked	rank	VERB
ajfa-15215	122	10	on	on	ADP
ajfa-15215	122	11	the	the	DET
ajfa-15215	122	12	basis	basis	NOUN
ajfa-15215	122	13	of	of	ADP
ajfa-15215	122	14	p	p	PROPN
ajfa-15215	122	15	/	/	SYM
ajfa-15215	122	16	e	e	NOUN
ajfa-15215	122	17	ratios	ratio	NOUN
ajfa-15215	122	18	into	into	ADP
ajfa-15215	122	19	3	3	NUM
ajfa-15215	122	20	portfolios	portfolio	NOUN
ajfa-15215	122	21	with	with	ADP
ajfa-15215	122	22	pe1	pe1	PROPN
ajfa-15215	122	23	consisting	consist	VERB
ajfa-15215	122	24	of	of	ADP
ajfa-15215	122	25	lowest	low	ADJ
ajfa-15215	122	26	33	33	NUM
ajfa-15215	122	27	-	-	SYM
ajfa-15215	122	28	1/3	1/3	NUM
ajfa-15215	122	29	percent	percent	NOUN
ajfa-15215	122	30	stocks	stock	NOUN
ajfa-15215	122	31	and	and	CCONJ
ajfa-15215	122	32	pe3	pe3	VERB
ajfa-15215	122	33	comprising	comprising	NOUN
ajfa-15215	122	34	of	of	ADP
ajfa-15215	122	35	highest	high	ADJ
ajfa-15215	122	36	33	33	NUM
ajfa-15215	122	37	-	-	PUNCT
ajfa-15215	122	38	1/3	1/3	NUM
ajfa-15215	122	39	percent	percent	NOUN
ajfa-15215	122	40	stocks	stock	NOUN
ajfa-15215	122	41	.	.	PUNCT
ajfa-15215	123	1	then	then	ADV
ajfa-15215	123	2	securities	security	NOUN
ajfa-15215	123	3	are	be	AUX
ajfa-15215	123	4	independently	independently	ADV
ajfa-15215	123	5	sorted	sort	VERB
ajfa-15215	123	6	on	on	ADP
ajfa-15215	123	7	the	the	DET
ajfa-15215	123	8	basis	basis	NOUN
ajfa-15215	123	9	of	of	ADP
ajfa-15215	123	10	average	average	ADJ
ajfa-15215	123	11	earnings	earning	NOUN
ajfa-15215	123	12	growth	growth	NOUN
ajfa-15215	123	13	into	into	ADP
ajfa-15215	123	14	3	3	NUM
ajfa-15215	123	15	portfolios	portfolio	NOUN
ajfa-15215	123	16	with	with	ADP
ajfa-15215	123	17	e1	e1	NOUN
ajfa-15215	123	18	and	and	CCONJ
ajfa-15215	123	19	e3	e3	NOUN
ajfa-15215	123	20	having	have	VERB
ajfa-15215	123	21	lowest	low	ADJ
ajfa-15215	123	22	and	and	CCONJ
ajfa-15215	123	23	highest	high	ADJ
ajfa-15215	123	24	33	33	NUM
ajfa-15215	123	25	-	-	PUNCT
ajfa-15215	123	26	1/3	1/3	NUM
ajfa-15215	123	27	percent	percent	NOUN
ajfa-15215	123	28	stocks	stock	NOUN
ajfa-15215	123	29	asian	asian	ADJ
ajfa-15215	123	30	journal	journal	PROPN
ajfa-15215	123	31	of	of	ADP
ajfa-15215	123	32	finance	finance	PROPN
ajfa-15215	123	33	&	&	CCONJ
ajfa-15215	123	34	accounting	accounting	PROPN
ajfa-15215	123	35	issn	issn	PROPN
ajfa-15215	123	36	1946	1946	NUM
ajfa-15215	123	37	-	-	PUNCT
ajfa-15215	123	38	052x	052x	PROPN
ajfa-15215	123	39	2019	2019	NUM
ajfa-15215	123	40	,	,	PUNCT
ajfa-15215	123	41	vol	vol	NOUN
ajfa-15215	123	42	.	.	PROPN
ajfa-15215	124	1	11	11	NUM
ajfa-15215	124	2	,	,	PUNCT
ajfa-15215	124	3	no	no	INTJ
ajfa-15215	124	4	.	.	NOUN
ajfa-15215	124	5	2	2	NUM
ajfa-15215	124	6	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	124	7	47	47	NUM
ajfa-15215	124	8	respectively	respectively	ADV
ajfa-15215	124	9	.	.	PUNCT
ajfa-15215	125	1	stocks	stock	NOUN
ajfa-15215	125	2	in	in	ADP
ajfa-15215	125	3	the	the	DET
ajfa-15215	125	4	portfolio	portfolio	NOUN
ajfa-15215	125	5	pe1e3	pe1e3	PROPN
ajfa-15215	125	6	and	and	CCONJ
ajfa-15215	125	7	pe3e1	pe3e1	PROPN
ajfa-15215	125	8	are	be	AUX
ajfa-15215	125	9	defined	define	VERB
ajfa-15215	125	10	as	as	ADP
ajfa-15215	125	11	low	low	ADJ
ajfa-15215	125	12	value	value	NOUN
ajfa-15215	125	13	-	-	PUNCT
ajfa-15215	125	14	high	high	ADJ
ajfa-15215	125	15	growth	growth	NOUN
ajfa-15215	125	16	stocks	stock	NOUN
ajfa-15215	125	17	and	and	CCONJ
ajfa-15215	125	18	high	high	ADJ
ajfa-15215	125	19	value	value	NOUN
ajfa-15215	125	20	-	-	PUNCT
ajfa-15215	125	21	low	low	ADJ
ajfa-15215	125	22	growth	growth	NOUN
ajfa-15215	125	23	stocks	stock	NOUN
ajfa-15215	125	24	respectively	respectively	ADV
ajfa-15215	125	25	.	.	PUNCT
ajfa-15215	126	1	further	further	ADJ
ajfa-15215	126	2	two	two	NUM
ajfa-15215	126	3	types	type	NOUN
ajfa-15215	126	4	of	of	ADP
ajfa-15215	126	5	conditional	conditional	ADJ
ajfa-15215	126	6	sorted	sorted	ADJ
ajfa-15215	126	7	strategies	strategy	NOUN
ajfa-15215	126	8	;	;	PUNCT
ajfa-15215	126	9	namely	namely	ADV
ajfa-15215	126	10	value	value	NOUN
ajfa-15215	126	11	-	-	PUNCT
ajfa-15215	126	12	growth	growth	NOUN
ajfa-15215	126	13	and	and	CCONJ
ajfa-15215	126	14	growth	growth	NOUN
ajfa-15215	126	15	-	-	PUNCT
ajfa-15215	126	16	value	value	NOUN
ajfa-15215	126	17	are	be	AUX
ajfa-15215	126	18	used	use	VERB
ajfa-15215	126	19	.	.	PUNCT
ajfa-15215	127	1	they	they	PRON
ajfa-15215	127	2	are	be	AUX
ajfa-15215	127	3	labelled	label	VERB
ajfa-15215	127	4	as	as	ADP
ajfa-15215	127	5	conditional	conditional	ADJ
ajfa-15215	127	6	i	i	NOUN
ajfa-15215	127	7	and	and	CCONJ
ajfa-15215	127	8	conditional	conditional	PROPN
ajfa-15215	127	9	ii	ii	PROPN
ajfa-15215	127	10	respectively	respectively	ADV
ajfa-15215	127	11	.	.	PUNCT
ajfa-15215	128	1	in	in	ADP
ajfa-15215	128	2	value	value	NOUN
ajfa-15215	128	3	-	-	PUNCT
ajfa-15215	128	4	growth	growth	NOUN
ajfa-15215	128	5	strategy	strategy	NOUN
ajfa-15215	128	6	,	,	PUNCT
ajfa-15215	128	7	securities	security	NOUN
ajfa-15215	128	8	are	be	AUX
ajfa-15215	128	9	sorted	sort	VERB
ajfa-15215	128	10	in	in	ADP
ajfa-15215	128	11	ascending	ascend	VERB
ajfa-15215	128	12	order	order	NOUN
ajfa-15215	128	13	into	into	ADP
ajfa-15215	128	14	3	3	NUM
ajfa-15215	128	15	portfolios	portfolio	NOUN
ajfa-15215	128	16	on	on	ADP
ajfa-15215	128	17	the	the	DET
ajfa-15215	128	18	basis	basis	NOUN
ajfa-15215	128	19	of	of	ADP
ajfa-15215	128	20	pe	pe	PROPN
ajfa-15215	128	21	ratio	ratio	NOUN
ajfa-15215	128	22	.	.	PUNCT
ajfa-15215	129	1	within	within	ADP
ajfa-15215	129	2	these	these	DET
ajfa-15215	129	3	groups	group	NOUN
ajfa-15215	129	4	,	,	PUNCT
ajfa-15215	129	5	stocks	stock	NOUN
ajfa-15215	129	6	are	be	AUX
ajfa-15215	129	7	further	far	ADV
ajfa-15215	129	8	sorted	sort	VERB
ajfa-15215	129	9	into	into	ADP
ajfa-15215	129	10	3	3	NUM
ajfa-15215	129	11	portfolios	portfolio	NOUN
ajfa-15215	129	12	on	on	ADP
ajfa-15215	129	13	the	the	DET
ajfa-15215	129	14	basis	basis	NOUN
ajfa-15215	129	15	of	of	ADP
ajfa-15215	129	16	past	past	ADJ
ajfa-15215	129	17	growth	growth	NOUN
ajfa-15215	129	18	rate	rate	NOUN
ajfa-15215	129	19	in	in	ADP
ajfa-15215	129	20	earnings	earning	NOUN
ajfa-15215	129	21	.	.	PUNCT
ajfa-15215	130	1	in	in	ADP
ajfa-15215	130	2	the	the	DET
ajfa-15215	130	3	conditional	conditional	PROPN
ajfa-15215	130	4	ii	ii	PROPN
ajfa-15215	130	5	strategy	strategy	NOUN
ajfa-15215	130	6	,	,	PUNCT
ajfa-15215	130	7	the	the	DET
ajfa-15215	130	8	process	process	NOUN
ajfa-15215	130	9	is	be	AUX
ajfa-15215	130	10	reversed	reverse	VERB
ajfa-15215	130	11	.	.	PUNCT
ajfa-15215	131	1	stocks	stock	NOUN
ajfa-15215	131	2	are	be	AUX
ajfa-15215	131	3	first	first	ADV
ajfa-15215	131	4	sorted	sort	VERB
ajfa-15215	131	5	on	on	ADP
ajfa-15215	131	6	the	the	DET
ajfa-15215	131	7	basis	basis	NOUN
ajfa-15215	131	8	of	of	ADP
ajfa-15215	131	9	earnings	earning	NOUN
ajfa-15215	131	10	growth	growth	NOUN
ajfa-15215	131	11	,	,	PUNCT
ajfa-15215	131	12	then	then	ADV
ajfa-15215	131	13	on	on	ADP
ajfa-15215	131	14	the	the	DET
ajfa-15215	131	15	basis	basis	NOUN
ajfa-15215	131	16	of	of	ADP
ajfa-15215	131	17	p	p	X
ajfa-15215	131	18	/	/	SYM
ajfa-15215	131	19	e	e	NOUN
ajfa-15215	131	20	ratio	ratio	NOUN
ajfa-15215	131	21	.	.	PUNCT
ajfa-15215	132	1	in	in	ADP
ajfa-15215	132	2	all	all	DET
ajfa-15215	132	3	the	the	DET
ajfa-15215	132	4	above	above	ADV
ajfa-15215	132	5	mentioned	mention	VERB
ajfa-15215	132	6	strategies	strategy	NOUN
ajfa-15215	132	7	,	,	PUNCT
ajfa-15215	132	8	intersections	intersection	NOUN
ajfa-15215	132	9	of	of	ADP
ajfa-15215	132	10	value	value	NOUN
ajfa-15215	132	11	based	base	VERB
ajfa-15215	132	12	and	and	CCONJ
ajfa-15215	132	13	growth	growth	NOUN
ajfa-15215	132	14	based	base	VERB
ajfa-15215	132	15	portfolios	portfolio	NOUN
ajfa-15215	132	16	are	be	AUX
ajfa-15215	132	17	created	create	VERB
ajfa-15215	132	18	to	to	PART
ajfa-15215	132	19	form	form	VERB
ajfa-15215	132	20	9	9	NUM
ajfa-15215	132	21	portfolios	portfolio	NOUN
ajfa-15215	132	22	on	on	ADP
ajfa-15215	132	23	the	the	DET
ajfa-15215	132	24	basis	basis	NOUN
ajfa-15215	132	25	of	of	ADP
ajfa-15215	132	26	p	p	X
ajfa-15215	132	27	/	/	SYM
ajfa-15215	132	28	e	e	NOUN
ajfa-15215	132	29	and	and	CCONJ
ajfa-15215	132	30	earnings	earning	NOUN
ajfa-15215	132	31	growth	growth	NOUN
ajfa-15215	132	32	(	(	PUNCT
ajfa-15215	132	33	namely	namely	ADV
ajfa-15215	132	34	pe1e1	pe1e1	PROPN
ajfa-15215	132	35	,	,	PUNCT
ajfa-15215	132	36	pe1e2	pe1e2	PROPN
ajfa-15215	132	37	,	,	PUNCT
ajfa-15215	132	38	pe1e3	pe1e3	PROPN
ajfa-15215	132	39	,	,	PUNCT
ajfa-15215	132	40	pe2e1	pe2e1	PROPN
ajfa-15215	132	41	,	,	PUNCT
ajfa-15215	132	42	pe2e2	pe2e2	PROPN
ajfa-15215	132	43	,	,	PUNCT
ajfa-15215	132	44	pe2e3	pe2e3	PROPN
ajfa-15215	132	45	,	,	PUNCT
ajfa-15215	132	46	pe3e1	pe3e1	PROPN
ajfa-15215	132	47	,	,	PUNCT
ajfa-15215	132	48	pe3e2	pe3e2	PROPN
ajfa-15215	132	49	,	,	PUNCT
ajfa-15215	132	50	pe3e3	pe3e3	PROPN
ajfa-15215	132	51	.	.	PROPN
ajfa-15215	132	52	estimation	estimation	NOUN
ajfa-15215	132	53	procedures	procedure	NOUN
ajfa-15215	132	54	similar	similar	ADJ
ajfa-15215	132	55	to	to	ADP
ajfa-15215	132	56	univariate	univariate	ADJ
ajfa-15215	132	57	strategies	strategy	NOUN
ajfa-15215	132	58	are	be	AUX
ajfa-15215	132	59	followed	follow	VERB
ajfa-15215	132	60	.	.	PUNCT
ajfa-15215	133	1	portfolios	portfolio	NOUN
ajfa-15215	133	2	are	be	AUX
ajfa-15215	133	3	constructed	construct	VERB
ajfa-15215	133	4	at	at	ADP
ajfa-15215	133	5	the	the	DET
ajfa-15215	133	6	end	end	NOUN
ajfa-15215	133	7	of	of	ADP
ajfa-15215	133	8	each	each	DET
ajfa-15215	133	9	year	year	NOUN
ajfa-15215	133	10	by	by	ADP
ajfa-15215	133	11	observing	observe	VERB
ajfa-15215	133	12	past	past	ADJ
ajfa-15215	133	13	information	information	NOUN
ajfa-15215	133	14	in	in	ADP
ajfa-15215	133	15	value	value	NOUN
ajfa-15215	133	16	and	and	CCONJ
ajfa-15215	133	17	growth	growth	NOUN
ajfa-15215	133	18	.	.	PUNCT
ajfa-15215	134	1	returns	return	NOUN
ajfa-15215	134	2	of	of	ADP
ajfa-15215	134	3	these	these	DET
ajfa-15215	134	4	portfolios	portfolio	NOUN
ajfa-15215	134	5	are	be	AUX
ajfa-15215	134	6	observed	observe	VERB
ajfa-15215	134	7	for	for	ADP
ajfa-15215	134	8	the	the	DET
ajfa-15215	134	9	next	next	ADJ
ajfa-15215	134	10	year	year	NOUN
ajfa-15215	134	11	and	and	CCONJ
ajfa-15215	134	12	they	they	PRON
ajfa-15215	134	13	are	be	AUX
ajfa-15215	134	14	rebalanced	rebalance	VERB
ajfa-15215	134	15	annually	annually	ADV
ajfa-15215	134	16	to	to	PART
ajfa-15215	134	17	reflect	reflect	VERB
ajfa-15215	134	18	new	new	ADJ
ajfa-15215	134	19	information	information	NOUN
ajfa-15215	134	20	.	.	PUNCT
ajfa-15215	135	1	for	for	ADP
ajfa-15215	135	2	all	all	DET
ajfa-15215	135	3	univariate	univariate	ADJ
ajfa-15215	135	4	and	and	CCONJ
ajfa-15215	135	5	bivariate	bivariate	ADJ
ajfa-15215	135	6	sorted	sorted	ADJ
ajfa-15215	135	7	portfolios	portfolio	NOUN
ajfa-15215	135	8	,	,	PUNCT
ajfa-15215	135	9	returns	return	NOUN
ajfa-15215	135	10	of	of	ADP
ajfa-15215	135	11	long	long	ADV
ajfa-15215	135	12	-	-	PUNCT
ajfa-15215	135	13	short	short	ADJ
ajfa-15215	135	14	(	(	PUNCT
ajfa-15215	135	15	zero	zero	NUM
ajfa-15215	135	16	cost	cost	NOUN
ajfa-15215	135	17	)	)	PUNCT
ajfa-15215	135	18	strategies	strategy	NOUN
ajfa-15215	135	19	are	be	AUX
ajfa-15215	135	20	estimated	estimate	VERB
ajfa-15215	135	21	which	which	PRON
ajfa-15215	135	22	involves	involve	VERB
ajfa-15215	135	23	going	go	VERB
ajfa-15215	135	24	long	long	ADV
ajfa-15215	135	25	in	in	ADP
ajfa-15215	135	26	portfolio	portfolio	NOUN
ajfa-15215	135	27	with	with	ADP
ajfa-15215	135	28	low	low	ADJ
ajfa-15215	135	29	value	value	NOUN
ajfa-15215	135	30	or	or	CCONJ
ajfa-15215	135	31	/	/	SYM
ajfa-15215	135	32	and	and	CCONJ
ajfa-15215	135	33	high	high	ADJ
ajfa-15215	135	34	growth	growth	NOUN
ajfa-15215	135	35	;	;	PUNCT
ajfa-15215	135	36	and	and	CCONJ
ajfa-15215	135	37	short	short	ADJ
ajfa-15215	135	38	in	in	ADP
ajfa-15215	135	39	high	high	ADJ
ajfa-15215	135	40	value	value	NOUN
ajfa-15215	135	41	or	or	CCONJ
ajfa-15215	135	42	/	/	SYM
ajfa-15215	135	43	and	and	CCONJ
ajfa-15215	135	44	low	low	ADJ
ajfa-15215	135	45	growth	growth	NOUN
ajfa-15215	135	46	portfolio	portfolio	NOUN
ajfa-15215	135	47	.	.	PUNCT
ajfa-15215	136	1	next	next	ADJ
ajfa-15215	136	2	an	an	DET
ajfa-15215	136	3	attempt	attempt	NOUN
ajfa-15215	136	4	is	be	AUX
ajfa-15215	136	5	made	make	VERB
ajfa-15215	136	6	to	to	PART
ajfa-15215	136	7	see	see	VERB
ajfa-15215	136	8	if	if	SCONJ
ajfa-15215	136	9	standard	standard	ADJ
ajfa-15215	136	10	risk	risk	NOUN
ajfa-15215	136	11	models	model	NOUN
ajfa-15215	136	12	explain	explain	VERB
ajfa-15215	136	13	cross	cross	NOUN
ajfa-15215	136	14	section	section	NOUN
ajfa-15215	136	15	of	of	ADP
ajfa-15215	136	16	returns	return	NOUN
ajfa-15215	136	17	of	of	ADP
ajfa-15215	136	18	our	our	PRON
ajfa-15215	136	19	univariate	univariate	ADJ
ajfa-15215	136	20	and	and	CCONJ
ajfa-15215	136	21	bivariate	bivariate	ADJ
ajfa-15215	136	22	sorted	sorted	ADJ
ajfa-15215	136	23	portfolios	portfolio	NOUN
ajfa-15215	136	24	.	.	PUNCT
ajfa-15215	137	1	for	for	ADP
ajfa-15215	137	2	this	this	DET
ajfa-15215	137	3	purpose	purpose	NOUN
ajfa-15215	137	4	,	,	PUNCT
ajfa-15215	137	5	three	three	NUM
ajfa-15215	137	6	asset	asset	NOUN
ajfa-15215	137	7	pricing	pricing	NOUN
ajfa-15215	137	8	models	model	NOUN
ajfa-15215	137	9	namely	namely	ADV
ajfa-15215	137	10	capital	capital	NOUN
ajfa-15215	137	11	asset	asset	NOUN
ajfa-15215	137	12	pricing	pricing	NOUN
ajfa-15215	137	13	model	model	NOUN
ajfa-15215	137	14	(	(	PUNCT
ajfa-15215	137	15	capm	capm	PROPN
ajfa-15215	137	16	)	)	PUNCT
ajfa-15215	137	17	,	,	PUNCT
ajfa-15215	137	18	fama	fama	PROPN
ajfa-15215	137	19	-	-	PUNCT
ajfa-15215	137	20	french	french	ADJ
ajfa-15215	137	21	3	3	NUM
ajfa-15215	137	22	factor	factor	NOUN
ajfa-15215	137	23	model	model	NOUN
ajfa-15215	137	24	(	(	PUNCT
ajfa-15215	137	25	1993	1993	NUM
ajfa-15215	137	26	)	)	PUNCT
ajfa-15215	137	27	,	,	PUNCT
ajfa-15215	137	28	and	and	CCONJ
ajfa-15215	137	29	fama	fama	NOUN
ajfa-15215	137	30	-	-	PUNCT
ajfa-15215	137	31	french	french	ADJ
ajfa-15215	137	32	5	5	NUM
ajfa-15215	137	33	factor	factor	NOUN
ajfa-15215	137	34	model	model	NOUN
ajfa-15215	137	35	(	(	PUNCT
ajfa-15215	137	36	2015	2015	NUM
ajfa-15215	137	37	)	)	PUNCT
ajfa-15215	137	38	are	be	AUX
ajfa-15215	137	39	used	use	VERB
ajfa-15215	137	40	.	.	PUNCT
ajfa-15215	138	1	we	we	PRON
ajfa-15215	138	2	do	do	VERB
ajfa-15215	138	3	further	further	ADJ
ajfa-15215	138	4	analysis	analysis	NOUN
ajfa-15215	138	5	only	only	ADV
ajfa-15215	138	6	on	on	ADP
ajfa-15215	138	7	corner	corner	NOUN
ajfa-15215	138	8	portfolios	portfolio	NOUN
ajfa-15215	138	9	as	as	SCONJ
ajfa-15215	138	10	they	they	PRON
ajfa-15215	138	11	have	have	VERB
ajfa-15215	138	12	direct	direct	ADJ
ajfa-15215	138	13	implications	implication	NOUN
ajfa-15215	138	14	for	for	ADP
ajfa-15215	138	15	developing	develop	VERB
ajfa-15215	138	16	long	long	ADJ
ajfa-15215	138	17	-	-	PUNCT
ajfa-15215	138	18	short	short	ADJ
ajfa-15215	138	19	strategies	strategy	NOUN
ajfa-15215	138	20	.	.	PUNCT
ajfa-15215	139	1	since	since	SCONJ
ajfa-15215	139	2	some	some	DET
ajfa-15215	139	3	months	month	NOUN
ajfa-15215	139	4	of	of	ADP
ajfa-15215	139	5	our	our	PRON
ajfa-15215	139	6	data	datum	NOUN
ajfa-15215	139	7	period	period	NOUN
ajfa-15215	139	8	are	be	AUX
ajfa-15215	139	9	impacted	impact	VERB
ajfa-15215	139	10	by	by	ADP
ajfa-15215	139	11	global	global	ADJ
ajfa-15215	139	12	financial	financial	ADJ
ajfa-15215	139	13	crisis	crisis	NOUN
ajfa-15215	139	14	,	,	PUNCT
ajfa-15215	139	15	we	we	PRON
ajfa-15215	139	16	add	add	VERB
ajfa-15215	139	17	a	a	DET
ajfa-15215	139	18	dummy	dummy	ADJ
ajfa-15215	139	19	variable	variable	NOUN
ajfa-15215	139	20	to	to	PART
ajfa-15215	139	21	account	account	VERB
ajfa-15215	139	22	for	for	ADP
ajfa-15215	139	23	the	the	DET
ajfa-15215	139	24	structural	structural	ADJ
ajfa-15215	139	25	break	break	NOUN
ajfa-15215	139	26	between	between	ADP
ajfa-15215	139	27	crisis	crisis	NOUN
ajfa-15215	139	28	and	and	CCONJ
ajfa-15215	139	29	tranquil	tranquil	NOUN
ajfa-15215	139	30	periods	period	NOUN
ajfa-15215	139	31	.	.	PUNCT
ajfa-15215	140	1	markets	market	NOUN
ajfa-15215	140	2	are	be	AUX
ajfa-15215	140	3	known	know	VERB
ajfa-15215	140	4	to	to	PART
ajfa-15215	140	5	be	be	AUX
ajfa-15215	140	6	affected	affect	VERB
ajfa-15215	140	7	by	by	ADP
ajfa-15215	140	8	the	the	DET
ajfa-15215	140	9	financial	financial	ADJ
ajfa-15215	140	10	crisis	crisis	NOUN
ajfa-15215	140	11	from	from	ADP
ajfa-15215	140	12	august	august	PROPN
ajfa-15215	140	13	2007	2007	NUM
ajfa-15215	140	14	-	-	PUNCT
ajfa-15215	140	15	october	october	PROPN
ajfa-15215	140	16	2009	2009	NUM
ajfa-15215	140	17	(	(	PUNCT
ajfa-15215	140	18	see	see	VERB
ajfa-15215	140	19	trichet	trichet	NOUN
ajfa-15215	140	20	,	,	PUNCT
ajfa-15215	140	21	2010	2010	NUM
ajfa-15215	140	22	;	;	PUNCT
ajfa-15215	140	23	angelini	angelini	PROPN
ajfa-15215	140	24	et	et	PROPN
ajfa-15215	140	25	al	al	PROPN
ajfa-15215	140	26	,	,	PUNCT
ajfa-15215	140	27	2011	2011	NUM
ajfa-15215	140	28	;	;	PUNCT
ajfa-15215	140	29	sehgal	sehgal	PROPN
ajfa-15215	140	30	et	et	PROPN
ajfa-15215	140	31	al	al	PROPN
ajfa-15215	140	32	,	,	PUNCT
ajfa-15215	140	33	2016	2016	NUM
ajfa-15215	140	34	)	)	PUNCT
ajfa-15215	140	35	.	.	PUNCT
ajfa-15215	141	1	the	the	DET
ajfa-15215	141	2	dummy	dummy	ADJ
ajfa-15215	141	3	variable	variable	NOUN
ajfa-15215	141	4	takes	take	VERB
ajfa-15215	141	5	value	value	NOUN
ajfa-15215	141	6	of	of	ADP
ajfa-15215	141	7	‘	'	PUNCT
ajfa-15215	141	8	0	0	NUM
ajfa-15215	141	9	’	'	PUNCT
ajfa-15215	141	10	during	during	ADP
ajfa-15215	141	11	crisis	crisis	NOUN
ajfa-15215	141	12	period	period	NOUN
ajfa-15215	141	13	and	and	CCONJ
ajfa-15215	141	14	‘	'	PUNCT
ajfa-15215	141	15	1	1	NUM
ajfa-15215	141	16	’	'	PUNCT
ajfa-15215	141	17	during	during	ADP
ajfa-15215	141	18	tranquil	tranquil	NOUN
ajfa-15215	141	19	periods	period	NOUN
ajfa-15215	141	20	.	.	PUNCT
ajfa-15215	142	1	following	follow	VERB
ajfa-15215	142	2	equation	equation	NOUN
ajfa-15215	142	3	shows	show	VERB
ajfa-15215	142	4	the	the	DET
ajfa-15215	142	5	excess	excess	ADJ
ajfa-15215	142	6	return	return	NOUN
ajfa-15215	142	7	version	version	NOUN
ajfa-15215	142	8	of	of	ADP
ajfa-15215	142	9	market	market	NOUN
ajfa-15215	142	10	model	model	NOUN
ajfa-15215	142	11	which	which	PRON
ajfa-15215	142	12	is	be	AUX
ajfa-15215	142	13	used	use	VERB
ajfa-15215	142	14	to	to	PART
ajfa-15215	142	15	operationalise	operationalise	VERB
ajfa-15215	142	16	capm	capm	PROPN
ajfa-15215	142	17	:	:	PUNCT
ajfa-15215	142	18	rpt	rpt	NOUN
ajfa-15215	142	19	–	–	PUNCT
ajfa-15215	142	20	rft	rft	NOUN
ajfa-15215	142	21	=	=	SYM
ajfa-15215	142	22	ap	ap	PROPN
ajfa-15215	143	1	+	+	CCONJ
ajfa-15215	143	2	bp	bp	PROPN
ajfa-15215	143	3	(	(	PUNCT
ajfa-15215	143	4	rmt	rmt	NOUN
ajfa-15215	143	5	–	–	PUNCT
ajfa-15215	143	6	rft	rft	NOUN
ajfa-15215	143	7	)	)	PUNCT
ajfa-15215	144	1	+	+	PUNCT
ajfa-15215	144	2	+	+	NUM
ajfa-15215	144	3	dp	dp	NOUN
ajfa-15215	144	4	(	(	PUNCT
ajfa-15215	144	5	dt)+	dt)+	NOUN
ajfa-15215	144	6	ept	ept	PROPN
ajfa-15215	144	7	(	(	PUNCT
ajfa-15215	144	8	1	1	NUM
ajfa-15215	144	9	)	)	PUNCT
ajfa-15215	144	10	where	where	SCONJ
ajfa-15215	144	11	,	,	PUNCT
ajfa-15215	144	12	rpt	rpt	PROPN
ajfa-15215	144	13	–	–	PUNCT
ajfa-15215	144	14	rft	rft	NOUN
ajfa-15215	144	15	is	be	AUX
ajfa-15215	144	16	the	the	DET
ajfa-15215	144	17	excess	excess	ADJ
ajfa-15215	144	18	return	return	NOUN
ajfa-15215	144	19	on	on	ADP
ajfa-15215	144	20	portfolios	portfolio	NOUN
ajfa-15215	144	21	at	at	ADP
ajfa-15215	144	22	time	time	NOUN
ajfa-15215	144	23	“	"	PUNCT
ajfa-15215	144	24	t	t	PROPN
ajfa-15215	144	25	”	"	PUNCT
ajfa-15215	144	26	;	;	PUNCT
ajfa-15215	144	27	i.e	i.e	PROPN
ajfa-15215	144	28	;	;	PUNCT
ajfa-15215	144	29	return	return	VERB
ajfa-15215	144	30	on	on	ADP
ajfa-15215	144	31	portfolio	portfolio	NOUN
ajfa-15215	144	32	at	at	ADP
ajfa-15215	144	33	time	time	NOUN
ajfa-15215	144	34	“	"	PUNCT
ajfa-15215	144	35	t	t	PROPN
ajfa-15215	144	36	”	"	PUNCT
ajfa-15215	144	37	minus	minus	CCONJ
ajfa-15215	144	38	risk	risk	NOUN
ajfa-15215	144	39	free	free	ADJ
ajfa-15215	144	40	return	return	NOUN
ajfa-15215	144	41	at	at	ADP
ajfa-15215	144	42	time	time	NOUN
ajfa-15215	144	43	“	"	PUNCT
ajfa-15215	144	44	t	t	PROPN
ajfa-15215	144	45	”	"	PUNCT
ajfa-15215	144	46	.	.	PUNCT
ajfa-15215	145	1	rmt	rmt	NOUN
ajfa-15215	145	2	–	–	PUNCT
ajfa-15215	145	3	rft	rft	NOUN
ajfa-15215	145	4	is	be	AUX
ajfa-15215	145	5	the	the	DET
ajfa-15215	145	6	excess	excess	ADJ
ajfa-15215	145	7	return	return	NOUN
ajfa-15215	145	8	on	on	ADP
ajfa-15215	145	9	market	market	NOUN
ajfa-15215	145	10	factor	factor	NOUN
ajfa-15215	145	11	asian	asian	ADJ
ajfa-15215	145	12	journal	journal	NOUN
ajfa-15215	145	13	of	of	ADP
ajfa-15215	145	14	finance	finance	PROPN
ajfa-15215	145	15	&	&	CCONJ
ajfa-15215	145	16	accounting	accounting	PROPN
ajfa-15215	145	17	issn	issn	PROPN
ajfa-15215	145	18	1946	1946	NUM
ajfa-15215	145	19	-	-	PUNCT
ajfa-15215	145	20	052x	052x	PROPN
ajfa-15215	145	21	2019	2019	NUM
ajfa-15215	145	22	,	,	PUNCT
ajfa-15215	145	23	vol	vol	NOUN
ajfa-15215	145	24	.	.	PROPN
ajfa-15215	145	25	11	11	NUM
ajfa-15215	145	26	,	,	PUNCT
ajfa-15215	145	27	no	no	INTJ
ajfa-15215	145	28	.	.	NOUN
ajfa-15215	145	29	2	2	NUM
ajfa-15215	145	30	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	145	31	48	48	NUM
ajfa-15215	145	32	dt	dt	NOUN
ajfa-15215	146	1	is	be	AUX
ajfa-15215	146	2	the	the	DET
ajfa-15215	146	3	dummy	dummy	ADJ
ajfa-15215	146	4	variable	variable	NOUN
ajfa-15215	146	5	to	to	PART
ajfa-15215	146	6	account	account	VERB
ajfa-15215	146	7	for	for	ADP
ajfa-15215	146	8	global	global	ADJ
ajfa-15215	146	9	financial	financial	ADJ
ajfa-15215	146	10	crisis	crisis	NOUN
ajfa-15215	146	11	.	.	PUNCT
ajfa-15215	147	1	it	it	PRON
ajfa-15215	147	2	takes	take	VERB
ajfa-15215	147	3	value	value	NOUN
ajfa-15215	147	4	of	of	ADP
ajfa-15215	147	5	‘	'	PUNCT
ajfa-15215	147	6	0	0	NUM
ajfa-15215	147	7	’	'	PUNCT
ajfa-15215	147	8	and	and	CCONJ
ajfa-15215	147	9	‘	'	PUNCT
ajfa-15215	147	10	1	1	NUM
ajfa-15215	147	11	’	'	PUNCT
ajfa-15215	147	12	during	during	ADP
ajfa-15215	147	13	crisis	crisis	NOUN
ajfa-15215	147	14	and	and	CCONJ
ajfa-15215	147	15	normal	normal	ADJ
ajfa-15215	147	16	periods	period	NOUN
ajfa-15215	147	17	respectively	respectively	ADV
ajfa-15215	147	18	.	.	PUNCT
ajfa-15215	148	1	ap	ap	PROPN
ajfa-15215	148	2	is	be	AUX
ajfa-15215	148	3	the	the	DET
ajfa-15215	148	4	intercept	intercept	NOUN
ajfa-15215	148	5	,	,	PUNCT
ajfa-15215	148	6	which	which	PRON
ajfa-15215	148	7	is	be	AUX
ajfa-15215	148	8	the	the	DET
ajfa-15215	148	9	measure	measure	NOUN
ajfa-15215	148	10	of	of	ADP
ajfa-15215	148	11	abnormal	abnormal	ADJ
ajfa-15215	148	12	profits	profit	NOUN
ajfa-15215	148	13	.	.	PUNCT
ajfa-15215	149	1	bp	bp	PROPN
ajfa-15215	149	2	is	be	AUX
ajfa-15215	149	3	the	the	DET
ajfa-15215	149	4	slope	slope	NOUN
ajfa-15215	149	5	coefficient	coefficient	NOUN
ajfa-15215	149	6	which	which	PRON
ajfa-15215	149	7	shows	show	VERB
ajfa-15215	149	8	the	the	DET
ajfa-15215	149	9	sensitivity	sensitivity	NOUN
ajfa-15215	149	10	of	of	ADP
ajfa-15215	149	11	portfolio	portfolio	NOUN
ajfa-15215	149	12	returns	return	NOUN
ajfa-15215	149	13	to	to	ADP
ajfa-15215	149	14	market	market	NOUN
ajfa-15215	149	15	returns	return	NOUN
ajfa-15215	149	16	dp	dp	NOUN
ajfa-15215	149	17	represents	represent	VERB
ajfa-15215	149	18	responsiveness	responsiveness	NOUN
ajfa-15215	149	19	to	to	ADP
ajfa-15215	149	20	dummy	dummy	ADJ
ajfa-15215	149	21	variable	variable	NOUN
ajfa-15215	149	22	ept	ept	NOUN
ajfa-15215	149	23	is	be	AUX
ajfa-15215	149	24	the	the	DET
ajfa-15215	149	25	error	error	NOUN
ajfa-15215	149	26	term	term	NOUN
ajfa-15215	149	27	for	for	SCONJ
ajfa-15215	149	28	capm	capm	PROPN
ajfa-15215	149	29	to	to	PART
ajfa-15215	149	30	hold	hold	VERB
ajfa-15215	149	31	true	true	ADJ
ajfa-15215	149	32	,	,	PUNCT
ajfa-15215	149	33	portfolio	portfolio	NOUN
ajfa-15215	149	34	returns	return	NOUN
ajfa-15215	149	35	must	must	AUX
ajfa-15215	149	36	be	be	AUX
ajfa-15215	149	37	fully	fully	ADV
ajfa-15215	149	38	explained	explain	VERB
ajfa-15215	149	39	by	by	ADP
ajfa-15215	149	40	market	market	NOUN
ajfa-15215	149	41	returns	return	NOUN
ajfa-15215	149	42	.	.	PUNCT
ajfa-15215	150	1	a	a	DET
ajfa-15215	150	2	significantly	significantly	ADV
ajfa-15215	150	3	positive	positive	ADJ
ajfa-15215	150	4	or	or	CCONJ
ajfa-15215	150	5	negative	negative	ADJ
ajfa-15215	150	6	intercept	intercept	NOUN
ajfa-15215	150	7	implies	imply	VERB
ajfa-15215	150	8	that	that	SCONJ
ajfa-15215	150	9	portfolios	portfolio	NOUN
ajfa-15215	150	10	are	be	AUX
ajfa-15215	150	11	earning	earn	VERB
ajfa-15215	150	12	abnormal	abnormal	ADJ
ajfa-15215	150	13	returns	return	NOUN
ajfa-15215	150	14	which	which	PRON
ajfa-15215	150	15	are	be	AUX
ajfa-15215	150	16	not	not	PART
ajfa-15215	150	17	explained	explain	VERB
ajfa-15215	150	18	by	by	ADP
ajfa-15215	150	19	capm	capm	PROPN
ajfa-15215	150	20	.	.	PUNCT
ajfa-15215	151	1	in	in	ADP
ajfa-15215	151	2	this	this	DET
ajfa-15215	151	3	case	case	NOUN
ajfa-15215	151	4	,	,	PUNCT
ajfa-15215	151	5	fama	fama	PROPN
ajfa-15215	151	6	-	-	PUNCT
ajfa-15215	151	7	french	french	ADJ
ajfa-15215	151	8	3	3	NUM
ajfa-15215	151	9	factor	factor	NOUN
ajfa-15215	151	10	model	model	NOUN
ajfa-15215	151	11	is	be	AUX
ajfa-15215	151	12	used	use	VERB
ajfa-15215	151	13	which	which	PRON
ajfa-15215	151	14	is	be	AUX
ajfa-15215	151	15	described	describe	VERB
ajfa-15215	151	16	in	in	ADP
ajfa-15215	151	17	the	the	DET
ajfa-15215	151	18	following	follow	VERB
ajfa-15215	151	19	equation	equation	NOUN
ajfa-15215	151	20	:	:	PUNCT
ajfa-15215	151	21	rpt	rpt	NOUN
ajfa-15215	151	22	–	–	PUNCT
ajfa-15215	151	23	rft	rft	NOUN
ajfa-15215	151	24	=	=	SYM
ajfa-15215	151	25	ap	ap	PROPN
ajfa-15215	152	1	+	+	CCONJ
ajfa-15215	152	2	bp	bp	PROPN
ajfa-15215	152	3	(	(	PUNCT
ajfa-15215	152	4	rmt	rmt	NOUN
ajfa-15215	152	5	–	–	PUNCT
ajfa-15215	152	6	rft	rft	NOUN
ajfa-15215	152	7	)	)	PUNCT
ajfa-15215	153	1	+	+	CCONJ
ajfa-15215	153	2	sp	sp	ADP
ajfa-15215	153	3	(	(	PUNCT
ajfa-15215	153	4	rsmb	rsmb	PROPN
ajfa-15215	153	5	)	)	PUNCT
ajfa-15215	154	1	+	+	CCONJ
ajfa-15215	154	2	lp	lp	ADJ
ajfa-15215	154	3	(	(	PUNCT
ajfa-15215	154	4	rlmh	rlmh	ADJ
ajfa-15215	154	5	)	)	PUNCT
ajfa-15215	154	6	+	+	NUM
ajfa-15215	154	7	dp	dp	NOUN
ajfa-15215	154	8	(	(	PUNCT
ajfa-15215	154	9	dt)+	dt)+	NOUN
ajfa-15215	154	10	ept	ept	PROPN
ajfa-15215	154	11	(	(	PUNCT
ajfa-15215	154	12	2	2	NUM
ajfa-15215	154	13	)	)	PUNCT
ajfa-15215	154	14	where	where	SCONJ
ajfa-15215	154	15	,	,	PUNCT
ajfa-15215	154	16	smb	smb	PROPN
ajfa-15215	154	17	and	and	CCONJ
ajfa-15215	154	18	lmh	lmh	PROPN
ajfa-15215	154	19	are	be	AUX
ajfa-15215	154	20	mimicking	mimic	VERB
ajfa-15215	154	21	portfolios	portfolio	NOUN
ajfa-15215	154	22	for	for	ADP
ajfa-15215	154	23	size	size	NOUN
ajfa-15215	154	24	factor	factor	NOUN
ajfa-15215	154	25	and	and	CCONJ
ajfa-15215	154	26	value	value	NOUN
ajfa-15215	154	27	factor	factor	NOUN
ajfa-15215	154	28	respectively	respectively	ADV
ajfa-15215	154	29	.	.	PUNCT
ajfa-15215	155	1	sp	sp	ADP
ajfa-15215	155	2	and	and	CCONJ
ajfa-15215	155	3	lp	lp	NOUN
ajfa-15215	155	4	are	be	AUX
ajfa-15215	155	5	sensitivity	sensitivity	NOUN
ajfa-15215	155	6	coefficients	coefficient	NOUN
ajfa-15215	155	7	.	.	PUNCT
ajfa-15215	156	1	other	other	ADJ
ajfa-15215	156	2	variables	variable	NOUN
ajfa-15215	156	3	have	have	VERB
ajfa-15215	156	4	the	the	DET
ajfa-15215	156	5	same	same	ADJ
ajfa-15215	156	6	description	description	NOUN
ajfa-15215	156	7	as	as	ADP
ajfa-15215	156	8	in	in	ADP
ajfa-15215	156	9	equation	equation	NOUN
ajfa-15215	156	10	(	(	PUNCT
ajfa-15215	156	11	1	1	NUM
ajfa-15215	156	12	)	)	PUNCT
ajfa-15215	156	13	.	.	PUNCT
ajfa-15215	157	1	construction	construction	NOUN
ajfa-15215	157	2	methodology	methodology	NOUN
ajfa-15215	157	3	adopted	adopt	VERB
ajfa-15215	157	4	by	by	ADP
ajfa-15215	157	5	us	we	PRON
ajfa-15215	157	6	is	be	AUX
ajfa-15215	157	7	different	different	ADJ
ajfa-15215	157	8	from	from	ADP
ajfa-15215	157	9	fama	fama	PROPN
ajfa-15215	157	10	-	-	PUNCT
ajfa-15215	157	11	french	french	ADJ
ajfa-15215	157	12	3	3	NUM
ajfa-15215	157	13	factor	factor	NOUN
ajfa-15215	157	14	model	model	NOUN
ajfa-15215	157	15	estimated	estimate	VERB
ajfa-15215	157	16	in	in	ADP
ajfa-15215	157	17	fama	fama	NOUN
ajfa-15215	157	18	-	-	PUNCT
ajfa-15215	157	19	french	french	ADJ
ajfa-15215	157	20	1996	1996	NUM
ajfa-15215	157	21	in	in	ADP
ajfa-15215	157	22	two	two	NUM
ajfa-15215	157	23	ways	way	NOUN
ajfa-15215	157	24	.	.	PUNCT
ajfa-15215	158	1	2	2	NUM
ajfa-15215	158	2	*	*	SYM
ajfa-15215	158	3	2	2	NUM
ajfa-15215	158	4	size	size	NOUN
ajfa-15215	158	5	-	-	PUNCT
ajfa-15215	158	6	value	value	NOUN
ajfa-15215	158	7	partition	partition	NOUN
ajfa-15215	158	8	is	be	AUX
ajfa-15215	158	9	used	use	VERB
ajfa-15215	158	10	instead	instead	ADV
ajfa-15215	158	11	of	of	ADP
ajfa-15215	158	12	2	2	NUM
ajfa-15215	158	13	*	*	SYM
ajfa-15215	158	14	3	3	NUM
ajfa-15215	158	15	size	size	NOUN
ajfa-15215	158	16	-	-	PUNCT
ajfa-15215	158	17	value	value	NOUN
ajfa-15215	158	18	partition	partition	NOUN
ajfa-15215	158	19	due	due	ADP
ajfa-15215	158	20	to	to	ADP
ajfa-15215	158	21	problems	problem	NOUN
ajfa-15215	158	22	of	of	ADP
ajfa-15215	158	23	multicollinearity	multicollinearity	NOUN
ajfa-15215	158	24	.	.	PUNCT
ajfa-15215	159	1	[	[	X
ajfa-15215	159	2	3	3	NUM
ajfa-15215	159	3	]	]	PUNCT
ajfa-15215	159	4	.	.	PUNCT
ajfa-15215	160	1	instead	instead	ADV
ajfa-15215	160	2	of	of	ADP
ajfa-15215	160	3	hml	hml	PROPN
ajfa-15215	160	4	factor	factor	NOUN
ajfa-15215	160	5	,	,	PUNCT
ajfa-15215	160	6	we	we	PRON
ajfa-15215	160	7	construct	construct	VERB
ajfa-15215	160	8	lmh	lmh	PROPN
ajfa-15215	160	9	factor	factor	NOUN
ajfa-15215	160	10	.	.	PUNCT
ajfa-15215	161	1	this	this	PRON
ajfa-15215	161	2	reverses	reverse	VERB
ajfa-15215	161	3	the	the	DET
ajfa-15215	161	4	interpretation	interpretation	NOUN
ajfa-15215	161	5	of	of	ADP
ajfa-15215	161	6	value	value	NOUN
ajfa-15215	161	7	factor	factor	NOUN
ajfa-15215	161	8	.	.	PUNCT
ajfa-15215	162	1	we	we	PRON
ajfa-15215	162	2	divide	divide	VERB
ajfa-15215	162	3	the	the	DET
ajfa-15215	162	4	sample	sample	NOUN
ajfa-15215	162	5	stocks	stock	NOUN
ajfa-15215	162	6	into	into	ADP
ajfa-15215	162	7	two	two	NUM
ajfa-15215	162	8	groups	group	NOUN
ajfa-15215	162	9	on	on	ADP
ajfa-15215	162	10	the	the	DET
ajfa-15215	162	11	basis	basis	NOUN
ajfa-15215	162	12	of	of	ADP
ajfa-15215	162	13	their	their	PRON
ajfa-15215	162	14	market	market	NOUN
ajfa-15215	162	15	capitalization	capitalization	NOUN
ajfa-15215	162	16	.	.	PUNCT
ajfa-15215	163	1	stocks	stock	NOUN
ajfa-15215	163	2	are	be	AUX
ajfa-15215	163	3	categorized	categorize	VERB
ajfa-15215	163	4	into	into	ADP
ajfa-15215	163	5	small	small	ADJ
ajfa-15215	163	6	(	(	PUNCT
ajfa-15215	163	7	s	s	X
ajfa-15215	163	8	)	)	PUNCT
ajfa-15215	163	9	if	if	SCONJ
ajfa-15215	163	10	their	their	PRON
ajfa-15215	163	11	market	market	NOUN
ajfa-15215	163	12	capitalization	capitalization	NOUN
ajfa-15215	163	13	is	be	AUX
ajfa-15215	163	14	less	less	ADJ
ajfa-15215	163	15	than	than	ADP
ajfa-15215	163	16	the	the	DET
ajfa-15215	163	17	median	median	ADJ
ajfa-15215	163	18	value	value	NOUN
ajfa-15215	163	19	and	and	CCONJ
ajfa-15215	163	20	remaining	remain	VERB
ajfa-15215	163	21	as	as	ADV
ajfa-15215	163	22	big	big	ADJ
ajfa-15215	163	23	(	(	PUNCT
ajfa-15215	163	24	b	b	NOUN
ajfa-15215	163	25	)	)	PUNCT
ajfa-15215	163	26	.	.	PUNCT
ajfa-15215	164	1	in	in	ADP
ajfa-15215	164	2	the	the	DET
ajfa-15215	164	3	same	same	ADJ
ajfa-15215	164	4	manner	manner	NOUN
ajfa-15215	164	5	,	,	PUNCT
ajfa-15215	164	6	they	they	PRON
ajfa-15215	164	7	are	be	AUX
ajfa-15215	164	8	classified	classify	VERB
ajfa-15215	164	9	as	as	ADP
ajfa-15215	164	10	low	low	ADJ
ajfa-15215	164	11	(	(	PUNCT
ajfa-15215	164	12	l	l	NOUN
ajfa-15215	164	13	)	)	PUNCT
ajfa-15215	164	14	or	or	CCONJ
ajfa-15215	164	15	high	high	ADJ
ajfa-15215	164	16	(	(	PUNCT
ajfa-15215	164	17	h	h	NOUN
ajfa-15215	164	18	)	)	PUNCT
ajfa-15215	164	19	on	on	ADP
ajfa-15215	164	20	the	the	DET
ajfa-15215	164	21	basis	basis	NOUN
ajfa-15215	164	22	of	of	ADP
ajfa-15215	164	23	price	price	NOUN
ajfa-15215	164	24	-	-	PUNCT
ajfa-15215	164	25	to	to	ADP
ajfa-15215	164	26	-	-	PUNCT
ajfa-15215	164	27	book	book	NOUN
ajfa-15215	164	28	ratio	ratio	NOUN
ajfa-15215	164	29	.	.	PUNCT
ajfa-15215	165	1	using	use	VERB
ajfa-15215	165	2	intersection	intersection	NOUN
ajfa-15215	165	3	of	of	ADP
ajfa-15215	165	4	two	two	NUM
ajfa-15215	165	5	size	size	NOUN
ajfa-15215	165	6	and	and	CCONJ
ajfa-15215	165	7	two	two	NUM
ajfa-15215	165	8	p	p	ADJ
ajfa-15215	165	9	/	/	SYM
ajfa-15215	165	10	b	b	NOUN
ajfa-15215	165	11	groups	group	NOUN
ajfa-15215	165	12	,	,	PUNCT
ajfa-15215	165	13	four	four	NUM
ajfa-15215	165	14	portfolios	portfolio	NOUN
ajfa-15215	165	15	(	(	PUNCT
ajfa-15215	165	16	s	s	NOUN
ajfa-15215	165	17	-	-	PUNCT
ajfa-15215	165	18	l	l	NOUN
ajfa-15215	165	19	,	,	PUNCT
ajfa-15215	165	20	s	s	NOUN
ajfa-15215	165	21	-	-	NOUN
ajfa-15215	165	22	h	h	NOUN
ajfa-15215	165	23	,	,	PUNCT
ajfa-15215	165	24	b	b	NOUN
ajfa-15215	165	25	-	-	PUNCT
ajfa-15215	165	26	l	l	NOUN
ajfa-15215	165	27	and	and	CCONJ
ajfa-15215	165	28	b	b	X
ajfa-15215	165	29	-	-	PUNCT
ajfa-15215	165	30	h	h	NOUN
ajfa-15215	165	31	)	)	PUNCT
ajfa-15215	165	32	are	be	AUX
ajfa-15215	165	33	formed	form	VERB
ajfa-15215	165	34	.	.	PUNCT
ajfa-15215	166	1	for	for	ADP
ajfa-15215	166	2	each	each	DET
ajfa-15215	166	3	holding	hold	VERB
ajfa-15215	166	4	period	period	NOUN
ajfa-15215	166	5	,	,	PUNCT
ajfa-15215	166	6	difference	difference	NOUN
ajfa-15215	166	7	between	between	ADP
ajfa-15215	166	8	average	average	ADJ
ajfa-15215	166	9	return	return	NOUN
ajfa-15215	166	10	of	of	ADP
ajfa-15215	166	11	small	small	ADJ
ajfa-15215	166	12	stocks	stock	NOUN
ajfa-15215	166	13	and	and	CCONJ
ajfa-15215	166	14	big	big	ADJ
ajfa-15215	166	15	stocks	stock	NOUN
ajfa-15215	166	16	gives	give	VERB
ajfa-15215	166	17	the	the	DET
ajfa-15215	166	18	smb	smb	NOUN
ajfa-15215	166	19	factor	factor	NOUN
ajfa-15215	166	20	.	.	PUNCT
ajfa-15215	167	1	lmh	lmh	PROPN
ajfa-15215	167	2	factor	factor	NOUN
ajfa-15215	167	3	is	be	AUX
ajfa-15215	167	4	constructed	construct	VERB
ajfa-15215	167	5	as	as	ADP
ajfa-15215	167	6	the	the	DET
ajfa-15215	167	7	difference	difference	NOUN
ajfa-15215	167	8	between	between	ADP
ajfa-15215	167	9	average	average	ADJ
ajfa-15215	167	10	return	return	NOUN
ajfa-15215	167	11	of	of	ADP
ajfa-15215	167	12	low	low	ADJ
ajfa-15215	167	13	and	and	CCONJ
ajfa-15215	167	14	high	high	ADJ
ajfa-15215	167	15	p	p	PROPN
ajfa-15215	167	16	/	/	SYM
ajfa-15215	167	17	b	b	NOUN
ajfa-15215	167	18	stocks	stock	NOUN
ajfa-15215	167	19	.	.	PUNCT
ajfa-15215	168	1	the	the	DET
ajfa-15215	168	2	fundamental	fundamental	ADJ
ajfa-15215	168	3	reasoning	reasoning	NOUN
ajfa-15215	168	4	behind	behind	ADP
ajfa-15215	168	5	using	use	VERB
ajfa-15215	168	6	these	these	DET
ajfa-15215	168	7	factors	factor	NOUN
ajfa-15215	168	8	is	be	AUX
ajfa-15215	168	9	the	the	DET
ajfa-15215	168	10	superior	superior	ADJ
ajfa-15215	168	11	performance	performance	NOUN
ajfa-15215	168	12	of	of	ADP
ajfa-15215	168	13	small	small	ADJ
ajfa-15215	168	14	stocks	stock	NOUN
ajfa-15215	168	15	over	over	ADP
ajfa-15215	168	16	big	big	ADJ
ajfa-15215	168	17	stocks	stock	NOUN
ajfa-15215	168	18	due	due	ADJ
ajfa-15215	168	19	to	to	ADP
ajfa-15215	168	20	higher	high	ADJ
ajfa-15215	168	21	risk	risk	NOUN
ajfa-15215	168	22	associated	associate	VERB
ajfa-15215	168	23	with	with	ADP
ajfa-15215	168	24	small	small	ADJ
ajfa-15215	168	25	stocks	stock	NOUN
ajfa-15215	168	26	.	.	PUNCT
ajfa-15215	169	1	better	well	ADJ
ajfa-15215	169	2	performance	performance	NOUN
ajfa-15215	169	3	of	of	ADP
ajfa-15215	169	4	low	low	ADJ
ajfa-15215	169	5	p	p	PROPN
ajfa-15215	169	6	/	/	SYM
ajfa-15215	169	7	b	b	NOUN
ajfa-15215	169	8	stocks	stock	NOUN
ajfa-15215	169	9	vis	vis	X
ajfa-15215	169	10	-	-	X
ajfa-15215	169	11	à	à	X
ajfa-15215	169	12	-	-	PUNCT
ajfa-15215	169	13	vis	vis	X
ajfa-15215	169	14	high	high	ADJ
ajfa-15215	169	15	p	p	PROPN
ajfa-15215	169	16	/	/	SYM
ajfa-15215	169	17	b	b	NOUN
ajfa-15215	169	18	stocks	stock	NOUN
ajfa-15215	169	19	is	be	AUX
ajfa-15215	169	20	associated	associate	VERB
ajfa-15215	169	21	with	with	ADP
ajfa-15215	169	22	their	their	PRON
ajfa-15215	169	23	undervaluation	undervaluation	NOUN
ajfa-15215	169	24	of	of	ADP
ajfa-15215	169	25	low	low	ADJ
ajfa-15215	169	26	p	p	PROPN
ajfa-15215	169	27	/	/	SYM
ajfa-15215	169	28	b	b	NOUN
ajfa-15215	169	29	securities	security	NOUN
ajfa-15215	169	30	.	.	PUNCT
ajfa-15215	170	1	if	if	SCONJ
ajfa-15215	170	2	portfolio	portfolio	NOUN
ajfa-15215	170	3	returns	return	NOUN
ajfa-15215	170	4	remain	remain	VERB
ajfa-15215	170	5	unexplained	unexplained	ADJ
ajfa-15215	170	6	by	by	ADP
ajfa-15215	170	7	fama	fama	PROPN
ajfa-15215	170	8	-	-	PUNCT
ajfa-15215	170	9	french	french	ADJ
ajfa-15215	170	10	three	three	NUM
ajfa-15215	170	11	factor	factor	NOUN
ajfa-15215	170	12	model	model	NOUN
ajfa-15215	170	13	,	,	PUNCT
ajfa-15215	170	14	we	we	PRON
ajfa-15215	170	15	investigate	investigate	VERB
ajfa-15215	170	16	the	the	DET
ajfa-15215	170	17	role	role	NOUN
ajfa-15215	170	18	of	of	ADP
ajfa-15215	170	19	profitability	profitability	NOUN
ajfa-15215	170	20	and	and	CCONJ
ajfa-15215	170	21	investment	investment	NOUN
ajfa-15215	170	22	rate	rate	NOUN
ajfa-15215	170	23	as	as	SCONJ
ajfa-15215	170	24	proposed	propose	VERB
ajfa-15215	170	25	by	by	ADP
ajfa-15215	170	26	fama	fama	PROPN
ajfa-15215	170	27	-	-	PUNCT
ajfa-15215	170	28	french	french	NOUN
ajfa-15215	170	29	(	(	PUNCT
ajfa-15215	170	30	2015	2015	NUM
ajfa-15215	170	31	)	)	PUNCT
ajfa-15215	170	32	.	.	PUNCT
ajfa-15215	171	1	for	for	ADP
ajfa-15215	171	2	constructing	construct	VERB
ajfa-15215	171	3	profitability	profitability	NOUN
ajfa-15215	171	4	factor	factor	NOUN
ajfa-15215	171	5	,	,	PUNCT
ajfa-15215	171	6	each	each	DET
ajfa-15215	171	7	year	year	NOUN
ajfa-15215	171	8	stocks	stock	NOUN
ajfa-15215	171	9	are	be	AUX
ajfa-15215	171	10	divided	divide	VERB
ajfa-15215	171	11	into	into	ADP
ajfa-15215	171	12	10	10	NUM
ajfa-15215	171	13	portfolios	portfolio	NOUN
ajfa-15215	171	14	on	on	ADP
ajfa-15215	171	15	the	the	DET
ajfa-15215	171	16	basis	basis	NOUN
ajfa-15215	171	17	of	of	ADP
ajfa-15215	171	18	return	return	NOUN
ajfa-15215	171	19	on	on	ADP
ajfa-15215	171	20	assets	asset	NOUN
ajfa-15215	171	21	(	(	PUNCT
ajfa-15215	171	22	roa	roa	NOUN
ajfa-15215	171	23	)	)	PUNCT
ajfa-15215	171	24	.	.	PUNCT
ajfa-15215	172	1	stocks	stock	NOUN
ajfa-15215	172	2	with	with	ADP
ajfa-15215	172	3	highest	high	ADJ
ajfa-15215	172	4	and	and	CCONJ
ajfa-15215	172	5	lowest	low	ADJ
ajfa-15215	172	6	roa	roa	NOUN
ajfa-15215	172	7	are	be	AUX
ajfa-15215	172	8	labelled	label	VERB
ajfa-15215	172	9	as	as	ADV
ajfa-15215	172	10	robust	robust	ADJ
ajfa-15215	172	11	and	and	CCONJ
ajfa-15215	172	12	weak	weak	ADJ
ajfa-15215	172	13	respectively	respectively	ADV
ajfa-15215	172	14	.	.	PUNCT
ajfa-15215	173	1	average	average	ADJ
ajfa-15215	173	2	asian	asian	ADJ
ajfa-15215	173	3	journal	journal	NOUN
ajfa-15215	173	4	of	of	ADP
ajfa-15215	173	5	finance	finance	PROPN
ajfa-15215	173	6	&	&	CCONJ
ajfa-15215	173	7	accounting	accounting	PROPN
ajfa-15215	173	8	issn	issn	PROPN
ajfa-15215	173	9	1946	1946	NUM
ajfa-15215	173	10	-	-	PUNCT
ajfa-15215	173	11	052x	052x	PROPN
ajfa-15215	173	12	2019	2019	NUM
ajfa-15215	173	13	,	,	PUNCT
ajfa-15215	173	14	vol	vol	NOUN
ajfa-15215	173	15	.	.	PROPN
ajfa-15215	173	16	11	11	NUM
ajfa-15215	173	17	,	,	PUNCT
ajfa-15215	173	18	no	no	INTJ
ajfa-15215	173	19	.	.	NOUN
ajfa-15215	173	20	2	2	NUM
ajfa-15215	173	21	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	173	22	49	49	NUM
ajfa-15215	173	23	returns	return	NOUN
ajfa-15215	173	24	of	of	ADP
ajfa-15215	173	25	robust	robust	ADJ
ajfa-15215	173	26	and	and	CCONJ
ajfa-15215	173	27	weak	weak	ADJ
ajfa-15215	173	28	portfolios	portfolio	NOUN
ajfa-15215	173	29	across	across	ADP
ajfa-15215	173	30	all	all	DET
ajfa-15215	173	31	holding	hold	VERB
ajfa-15215	173	32	periods	period	NOUN
ajfa-15215	173	33	are	be	AUX
ajfa-15215	173	34	considered	consider	VERB
ajfa-15215	173	35	for	for	ADP
ajfa-15215	173	36	constructing	construct	VERB
ajfa-15215	173	37	the	the	DET
ajfa-15215	173	38	profitability	profitability	NOUN
ajfa-15215	173	39	factor	factor	NOUN
ajfa-15215	173	40	;	;	PUNCT
ajfa-15215	173	41	labelled	label	VERB
ajfa-15215	173	42	as	as	ADP
ajfa-15215	173	43	rmw	rmw	PROPN
ajfa-15215	173	44	(	(	PUNCT
ajfa-15215	173	45	robust	robust	ADJ
ajfa-15215	173	46	minus	minus	CCONJ
ajfa-15215	173	47	weak	weak	ADJ
ajfa-15215	173	48	factor	factor	NOUN
ajfa-15215	173	49	)	)	PUNCT
ajfa-15215	173	50	.	.	PUNCT
ajfa-15215	174	1	this	this	DET
ajfa-15215	174	2	factor	factor	NOUN
ajfa-15215	174	3	is	be	AUX
ajfa-15215	174	4	based	base	VERB
ajfa-15215	174	5	on	on	ADP
ajfa-15215	174	6	the	the	DET
ajfa-15215	174	7	rationale	rationale	NOUN
ajfa-15215	174	8	of	of	ADP
ajfa-15215	174	9	stocks	stock	NOUN
ajfa-15215	174	10	with	with	ADP
ajfa-15215	174	11	higher	high	ADJ
ajfa-15215	174	12	past	past	NOUN
ajfa-15215	174	13	profitability	profitability	NOUN
ajfa-15215	174	14	outperforming	outperforming	NOUN
ajfa-15215	174	15	stocks	stock	NOUN
ajfa-15215	174	16	with	with	ADP
ajfa-15215	174	17	lower	low	ADJ
ajfa-15215	174	18	past	past	ADJ
ajfa-15215	174	19	profits	profit	NOUN
ajfa-15215	174	20	.	.	PUNCT
ajfa-15215	175	1	investment	investment	NOUN
ajfa-15215	175	2	rate	rate	NOUN
ajfa-15215	175	3	is	be	AUX
ajfa-15215	175	4	added	add	VERB
ajfa-15215	175	5	to	to	ADP
ajfa-15215	175	6	the	the	DET
ajfa-15215	175	7	explanatory	explanatory	ADJ
ajfa-15215	175	8	model	model	NOUN
ajfa-15215	175	9	by	by	ADP
ajfa-15215	175	10	constructing	construct	VERB
ajfa-15215	175	11	amc	amc	NOUN
ajfa-15215	175	12	factor	factor	NOUN
ajfa-15215	175	13	(	(	PUNCT
ajfa-15215	175	14	aggressive	aggressive	ADJ
ajfa-15215	175	15	minus	minus	CCONJ
ajfa-15215	175	16	constructive	constructive	ADJ
ajfa-15215	175	17	)	)	PUNCT
ajfa-15215	175	18	.	.	PUNCT
ajfa-15215	176	1	investment	investment	NOUN
ajfa-15215	176	2	rate	rate	NOUN
ajfa-15215	176	3	for	for	ADP
ajfa-15215	176	4	all	all	DET
ajfa-15215	176	5	stocks	stock	NOUN
ajfa-15215	176	6	is	be	AUX
ajfa-15215	176	7	computed	compute	VERB
ajfa-15215	176	8	each	each	DET
ajfa-15215	176	9	year	year	NOUN
ajfa-15215	176	10	by	by	ADP
ajfa-15215	176	11	looking	look	VERB
ajfa-15215	176	12	at	at	ADP
ajfa-15215	176	13	the	the	DET
ajfa-15215	176	14	difference	difference	NOUN
ajfa-15215	176	15	between	between	ADP
ajfa-15215	176	16	total	total	ADJ
ajfa-15215	176	17	assets	asset	NOUN
ajfa-15215	176	18	at	at	ADP
ajfa-15215	176	19	the	the	DET
ajfa-15215	176	20	end	end	NOUN
ajfa-15215	176	21	of	of	ADP
ajfa-15215	176	22	year	year	NOUN
ajfa-15215	176	23	‘	'	PUNCT
ajfa-15215	176	24	t	t	NOUN
ajfa-15215	176	25	’	'	PUNCT
ajfa-15215	176	26	and	and	CCONJ
ajfa-15215	176	27	total	total	ADJ
ajfa-15215	176	28	assets	asset	NOUN
ajfa-15215	176	29	at	at	ADP
ajfa-15215	176	30	the	the	DET
ajfa-15215	176	31	end	end	NOUN
ajfa-15215	176	32	of	of	ADP
ajfa-15215	176	33	year	year	NOUN
ajfa-15215	176	34	‘	'	PUNCT
ajfa-15215	176	35	t-1	t-1	PROPN
ajfa-15215	176	36	’	'	PUNCT
ajfa-15215	176	37	.	.	PUNCT
ajfa-15215	177	1	this	this	PRON
ajfa-15215	177	2	is	be	AUX
ajfa-15215	177	3	divided	divide	VERB
ajfa-15215	177	4	by	by	ADP
ajfa-15215	177	5	total	total	ADJ
ajfa-15215	177	6	assets	asset	NOUN
ajfa-15215	177	7	at	at	ADP
ajfa-15215	177	8	the	the	DET
ajfa-15215	177	9	end	end	NOUN
ajfa-15215	177	10	of	of	ADP
ajfa-15215	177	11	year	year	NOUN
ajfa-15215	177	12	‘	'	PUNCT
ajfa-15215	177	13	t-1	t-1	PROPN
ajfa-15215	177	14	’	'	PUNCT
ajfa-15215	177	15	.	.	PUNCT
ajfa-15215	178	1	stocks	stock	NOUN
ajfa-15215	178	2	are	be	AUX
ajfa-15215	178	3	divided	divide	VERB
ajfa-15215	178	4	into	into	ADP
ajfa-15215	178	5	10	10	NUM
ajfa-15215	178	6	portfolios	portfolio	NOUN
ajfa-15215	178	7	each	each	DET
ajfa-15215	178	8	year	year	NOUN
ajfa-15215	178	9	on	on	ADP
ajfa-15215	178	10	the	the	DET
ajfa-15215	178	11	basis	basis	NOUN
ajfa-15215	178	12	of	of	ADP
ajfa-15215	178	13	investment	investment	NOUN
ajfa-15215	178	14	rate	rate	NOUN
ajfa-15215	178	15	and	and	CCONJ
ajfa-15215	178	16	are	be	AUX
ajfa-15215	178	17	labelled	label	VERB
ajfa-15215	178	18	as	as	ADP
ajfa-15215	178	19	aggressive	aggressive	ADJ
ajfa-15215	178	20	and	and	CCONJ
ajfa-15215	178	21	conservative	conservative	ADJ
ajfa-15215	178	22	with	with	ADP
ajfa-15215	178	23	higher	high	ADJ
ajfa-15215	178	24	and	and	CCONJ
ajfa-15215	178	25	lower	low	ADJ
ajfa-15215	178	26	investment	investment	NOUN
ajfa-15215	178	27	rate	rate	NOUN
ajfa-15215	178	28	respectively	respectively	ADV
ajfa-15215	178	29	.	.	PUNCT
ajfa-15215	179	1	contrary	contrary	ADJ
ajfa-15215	179	2	to	to	ADP
ajfa-15215	179	3	previous	previous	ADJ
ajfa-15215	179	4	studies	study	NOUN
ajfa-15215	179	5	on	on	ADP
ajfa-15215	179	6	asset	asset	NOUN
ajfa-15215	179	7	growth	growth	NOUN
ajfa-15215	179	8	anomaly	anomaly	NOUN
ajfa-15215	179	9	,	,	PUNCT
ajfa-15215	179	10	we	we	PRON
ajfa-15215	179	11	find	find	VERB
ajfa-15215	179	12	that	that	SCONJ
ajfa-15215	179	13	firms	firm	NOUN
ajfa-15215	179	14	with	with	ADP
ajfa-15215	179	15	higher	high	ADJ
ajfa-15215	179	16	investment	investment	NOUN
ajfa-15215	179	17	rate	rate	NOUN
ajfa-15215	179	18	are	be	AUX
ajfa-15215	179	19	performing	perform	VERB
ajfa-15215	179	20	better	well	ADV
ajfa-15215	179	21	in	in	ADP
ajfa-15215	179	22	future	future	ADJ
ajfa-15215	179	23	vis	vis	X
ajfa-15215	179	24	-	-	PUNCT
ajfa-15215	179	25	àvis	àvis	ADJ
ajfa-15215	179	26	conservative	conservative	ADJ
ajfa-15215	179	27	firms	firm	NOUN
ajfa-15215	179	28	.	.	PUNCT
ajfa-15215	180	1	though	though	SCONJ
ajfa-15215	180	2	asset	asset	NOUN
ajfa-15215	180	3	growth	growth	NOUN
ajfa-15215	180	4	anomaly	anomaly	NOUN
ajfa-15215	180	5	is	be	AUX
ajfa-15215	180	6	well	well	ADV
ajfa-15215	180	7	documented	document	VERB
ajfa-15215	180	8	in	in	ADP
ajfa-15215	180	9	previous	previous	ADJ
ajfa-15215	180	10	research	research	NOUN
ajfa-15215	180	11	,	,	PUNCT
ajfa-15215	180	12	some	some	DET
ajfa-15215	180	13	recent	recent	ADJ
ajfa-15215	180	14	studies	study	NOUN
ajfa-15215	180	15	support	support	VERB
ajfa-15215	180	16	our	our	PRON
ajfa-15215	180	17	findings	finding	NOUN
ajfa-15215	180	18	.	.	PUNCT
ajfa-15215	181	1	possible	possible	ADJ
ajfa-15215	181	2	explanations	explanation	NOUN
ajfa-15215	181	3	are	be	AUX
ajfa-15215	181	4	provided	provide	VERB
ajfa-15215	181	5	by	by	ADP
ajfa-15215	181	6	fu	fu	NOUN
ajfa-15215	181	7	(	(	PUNCT
ajfa-15215	181	8	2014	2014	NUM
ajfa-15215	181	9	)	)	PUNCT
ajfa-15215	181	10	and	and	CCONJ
ajfa-15215	181	11	kumar	kumar	PROPN
ajfa-15215	181	12	and	and	CCONJ
ajfa-15215	181	13	li	li	PROPN
ajfa-15215	181	14	(	(	PUNCT
ajfa-15215	181	15	2016	2016	NUM
ajfa-15215	181	16	)	)	PUNCT
ajfa-15215	181	17	.	.	PUNCT
ajfa-15215	182	1	the	the	DET
ajfa-15215	182	2	following	follow	VERB
ajfa-15215	182	3	equation	equation	NOUN
ajfa-15215	182	4	describes	describe	VERB
ajfa-15215	182	5	the	the	DET
ajfa-15215	182	6	5	5	NUM
ajfa-15215	182	7	factor	factor	NOUN
ajfa-15215	182	8	model	model	NOUN
ajfa-15215	182	9	used	use	VERB
ajfa-15215	182	10	:	:	PUNCT
ajfa-15215	182	11	rpt	rpt	NOUN
ajfa-15215	182	12	–	–	PUNCT
ajfa-15215	182	13	rft	rft	NOUN
ajfa-15215	182	14	=	=	SYM
ajfa-15215	182	15	ap	ap	PROPN
ajfa-15215	182	16	+	+	CCONJ
ajfa-15215	182	17	bp(rmt	bp(rmt	NOUN
ajfa-15215	182	18	–	–	PUNCT
ajfa-15215	182	19	rft	rft	NOUN
ajfa-15215	182	20	)	)	PUNCT
ajfa-15215	182	21	+	+	CCONJ
ajfa-15215	182	22	sp(rsmb	sp(rsmb	PROPN
ajfa-15215	182	23	)	)	PUNCT
ajfa-15215	183	1	+	+	CCONJ
ajfa-15215	183	2	lp(rlmh	lp(rlmh	PROPN
ajfa-15215	183	3	)	)	PUNCT
ajfa-15215	183	4	+	+	SYM
ajfa-15215	184	1	rp(rrmw	rp(rrmw	NUM
ajfa-15215	184	2	)	)	PUNCT
ajfa-15215	184	3	+	+	NUM
ajfa-15215	184	4	ip(ramc)+	ip(ramc)+	ADJ
ajfa-15215	184	5	dp	dp	NOUN
ajfa-15215	184	6	(	(	PUNCT
ajfa-15215	184	7	dt)+	dt)+	NOUN
ajfa-15215	184	8	ept	ept	PROPN
ajfa-15215	184	9	(	(	PUNCT
ajfa-15215	184	10	3	3	NUM
ajfa-15215	184	11	)	)	PUNCT
ajfa-15215	184	12	where	where	SCONJ
ajfa-15215	184	13	,	,	PUNCT
ajfa-15215	184	14	smb	smb	PROPN
ajfa-15215	184	15	,	,	PUNCT
ajfa-15215	184	16	lmh	lmh	PROPN
ajfa-15215	184	17	,	,	PUNCT
ajfa-15215	184	18	rmw	rmw	PROPN
ajfa-15215	184	19	and	and	CCONJ
ajfa-15215	184	20	amc	amc	PROPN
ajfa-15215	184	21	are	be	AUX
ajfa-15215	184	22	mimicking	mimic	VERB
ajfa-15215	184	23	portfolios	portfolio	NOUN
ajfa-15215	184	24	for	for	ADP
ajfa-15215	184	25	size	size	NOUN
ajfa-15215	184	26	,	,	PUNCT
ajfa-15215	184	27	value	value	NOUN
ajfa-15215	184	28	,	,	PUNCT
ajfa-15215	184	29	profitability	profitability	NOUN
ajfa-15215	184	30	and	and	CCONJ
ajfa-15215	184	31	investment	investment	NOUN
ajfa-15215	184	32	rate	rate	NOUN
ajfa-15215	184	33	factors	factor	NOUN
ajfa-15215	184	34	respectively	respectively	ADV
ajfa-15215	184	35	.	.	PUNCT
ajfa-15215	185	1	sp	sp	NOUN
ajfa-15215	185	2	,	,	PUNCT
ajfa-15215	185	3	lp	lp	NOUN
ajfa-15215	185	4	,	,	PUNCT
ajfa-15215	185	5	rp	rp	NOUN
ajfa-15215	185	6	and	and	CCONJ
ajfa-15215	185	7	ip	ip	NOUN
ajfa-15215	185	8	are	be	AUX
ajfa-15215	185	9	sensitivity	sensitivity	NOUN
ajfa-15215	185	10	coefficients	coefficient	NOUN
ajfa-15215	185	11	.	.	PUNCT
ajfa-15215	186	1	other	other	ADJ
ajfa-15215	186	2	variables	variable	NOUN
ajfa-15215	186	3	have	have	VERB
ajfa-15215	186	4	the	the	DET
ajfa-15215	186	5	same	same	ADJ
ajfa-15215	186	6	description	description	NOUN
ajfa-15215	186	7	as	as	ADP
ajfa-15215	186	8	in	in	ADP
ajfa-15215	186	9	equation	equation	NOUN
ajfa-15215	186	10	(	(	PUNCT
ajfa-15215	186	11	1	1	NUM
ajfa-15215	186	12	)	)	PUNCT
ajfa-15215	186	13	.	.	PUNCT
ajfa-15215	187	1	all	all	DET
ajfa-15215	187	2	multi	multi	ADJ
ajfa-15215	187	3	-	-	ADJ
ajfa-15215	187	4	factor	factor	NOUN
ajfa-15215	187	5	models	model	NOUN
ajfa-15215	187	6	used	use	VERB
ajfa-15215	187	7	are	be	AUX
ajfa-15215	187	8	adjusted	adjust	VERB
ajfa-15215	187	9	for	for	ADP
ajfa-15215	187	10	multi	multi	NOUN
ajfa-15215	187	11	-	-	NOUN
ajfa-15215	187	12	collinearity	collinearity	NOUN
ajfa-15215	187	13	.	.	PUNCT
ajfa-15215	188	1	appropriate	appropriate	ADJ
ajfa-15215	188	2	corrections	correction	NOUN
ajfa-15215	188	3	are	be	AUX
ajfa-15215	188	4	made	make	VERB
ajfa-15215	188	5	in	in	ADP
ajfa-15215	188	6	case	case	NOUN
ajfa-15215	188	7	correlation	correlation	NOUN
ajfa-15215	188	8	between	between	ADP
ajfa-15215	188	9	any	any	DET
ajfa-15215	188	10	two	two	NUM
ajfa-15215	188	11	factors	factor	NOUN
ajfa-15215	188	12	is	be	AUX
ajfa-15215	188	13	more	more	ADJ
ajfa-15215	188	14	than	than	ADP
ajfa-15215	188	15	0.3	0.3	NUM
ajfa-15215	188	16	.	.	PUNCT
ajfa-15215	189	1	an	an	DET
ajfa-15215	189	2	insignificant	insignificant	ADJ
ajfa-15215	189	3	alpha	alpha	NOUN
ajfa-15215	189	4	from	from	ADP
ajfa-15215	189	5	5	5	NUM
ajfa-15215	189	6	factor	factor	NOUN
ajfa-15215	189	7	model	model	NOUN
ajfa-15215	189	8	implies	imply	VERB
ajfa-15215	189	9	abnormal	abnormal	ADJ
ajfa-15215	189	10	performance	performance	NOUN
ajfa-15215	189	11	observed	observe	VERB
ajfa-15215	189	12	in	in	ADP
ajfa-15215	189	13	case	case	NOUN
ajfa-15215	189	14	of	of	ADP
ajfa-15215	189	15	3	3	NUM
ajfa-15215	189	16	factor	factor	NOUN
ajfa-15215	189	17	f	f	PROPN
ajfa-15215	189	18	-	-	PUNCT
ajfa-15215	189	19	f	f	PROPN
ajfa-15215	189	20	model	model	NOUN
ajfa-15215	189	21	was	be	AUX
ajfa-15215	189	22	only	only	ADV
ajfa-15215	189	23	due	due	ADJ
ajfa-15215	189	24	to	to	ADP
ajfa-15215	189	25	missing	miss	VERB
ajfa-15215	189	26	risk	risk	NOUN
ajfa-15215	189	27	factors	factor	NOUN
ajfa-15215	189	28	.	.	PUNCT
ajfa-15215	190	1	on	on	ADP
ajfa-15215	190	2	the	the	DET
ajfa-15215	190	3	other	other	ADJ
ajfa-15215	190	4	hand	hand	NOUN
ajfa-15215	190	5	,	,	PUNCT
ajfa-15215	190	6	there	there	PRON
ajfa-15215	190	7	would	would	AUX
ajfa-15215	190	8	be	be	AUX
ajfa-15215	190	9	a	a	DET
ajfa-15215	190	10	stronger	strong	ADJ
ajfa-15215	190	11	support	support	NOUN
ajfa-15215	190	12	for	for	ADP
ajfa-15215	190	13	strategy	strategy	NOUN
ajfa-15215	190	14	design	design	NOUN
ajfa-15215	190	15	and	and	CCONJ
ajfa-15215	190	16	arbitrage	arbitrage	NOUN
ajfa-15215	190	17	,	,	PUNCT
ajfa-15215	190	18	if	if	SCONJ
ajfa-15215	190	19	the	the	DET
ajfa-15215	190	20	alpha	alpha	NOUN
ajfa-15215	190	21	values	value	NOUN
ajfa-15215	190	22	are	be	AUX
ajfa-15215	190	23	significantly	significantly	ADV
ajfa-15215	190	24	positive	positive	ADJ
ajfa-15215	190	25	in	in	ADP
ajfa-15215	190	26	case	case	NOUN
ajfa-15215	190	27	of	of	ADP
ajfa-15215	190	28	5	5	NUM
ajfa-15215	190	29	factor	factor	NOUN
ajfa-15215	190	30	model	model	NOUN
ajfa-15215	190	31	.	.	PUNCT
ajfa-15215	191	1	4	4	X
ajfa-15215	191	2	.	.	X
ajfa-15215	191	3	empirical	empirical	ADJ
ajfa-15215	191	4	results	result	NOUN
ajfa-15215	191	5	4.1	4.1	NUM
ajfa-15215	191	6	unadjusted	unadjusted	ADJ
ajfa-15215	191	7	returns	return	NOUN
ajfa-15215	191	8	of	of	ADP
ajfa-15215	191	9	univariate	univariate	ADJ
ajfa-15215	191	10	portfolios	portfolio	NOUN
ajfa-15215	191	11	this	this	DET
ajfa-15215	191	12	sub	sub	ADJ
ajfa-15215	191	13	-	-	ADJ
ajfa-15215	191	14	section	section	ADJ
ajfa-15215	191	15	reports	report	NOUN
ajfa-15215	191	16	unadjusted	unadjuste	VERB
ajfa-15215	191	17	returns	return	NOUN
ajfa-15215	191	18	for	for	ADP
ajfa-15215	191	19	our	our	PRON
ajfa-15215	191	20	univariate	univariate	ADJ
ajfa-15215	191	21	sample	sample	NOUN
ajfa-15215	191	22	strategies	strategy	NOUN
ajfa-15215	191	23	.	.	PUNCT
ajfa-15215	192	1	(	(	PUNCT
ajfa-15215	192	2	see	see	VERB
ajfa-15215	192	3	table	table	NOUN
ajfa-15215	192	4	1	1	NUM
ajfa-15215	192	5	)	)	PUNCT
ajfa-15215	192	6	.	.	PUNCT
ajfa-15215	193	1	value	value	NOUN
ajfa-15215	193	2	based	base	VERB
ajfa-15215	193	3	strategies	strategy	NOUN
ajfa-15215	193	4	give	give	VERB
ajfa-15215	193	5	results	result	NOUN
ajfa-15215	193	6	consistent	consistent	ADJ
ajfa-15215	193	7	with	with	ADP
ajfa-15215	193	8	past	past	ADJ
ajfa-15215	193	9	studies	study	NOUN
ajfa-15215	193	10	.	.	PUNCT
ajfa-15215	194	1	stocks	stock	NOUN
ajfa-15215	194	2	with	with	ADP
ajfa-15215	194	3	low	low	ADJ
ajfa-15215	194	4	p	p	X
ajfa-15215	194	5	/	/	SYM
ajfa-15215	194	6	e	e	NOUN
ajfa-15215	194	7	and	and	CCONJ
ajfa-15215	194	8	p	p	NOUN
ajfa-15215	194	9	/	/	SYM
ajfa-15215	194	10	b	b	PROPN
ajfa-15215	194	11	ratios	ratio	NOUN
ajfa-15215	194	12	outperform	outperform	VERB
ajfa-15215	194	13	securities	security	NOUN
ajfa-15215	194	14	with	with	ADP
ajfa-15215	194	15	high	high	ADJ
ajfa-15215	194	16	p	p	X
ajfa-15215	194	17	/	/	SYM
ajfa-15215	194	18	e	e	NOUN
ajfa-15215	194	19	and	and	CCONJ
ajfa-15215	194	20	p	p	NOUN
ajfa-15215	194	21	/	/	SYM
ajfa-15215	194	22	b	b	NOUN
ajfa-15215	194	23	ratios	ratio	NOUN
ajfa-15215	194	24	.	.	PUNCT
ajfa-15215	195	1	portfolio	portfolio	PROPN
ajfa-15215	195	2	pe1	pe1	PROPN
ajfa-15215	195	3	and	and	CCONJ
ajfa-15215	195	4	pb1	pb1	NOUN
ajfa-15215	195	5	provide	provide	AUX
ajfa-15215	195	6	mean	mean	VERB
ajfa-15215	195	7	monthly	monthly	ADJ
ajfa-15215	195	8	return	return	NOUN
ajfa-15215	195	9	of	of	ADP
ajfa-15215	195	10	1.95	1.95	NUM
ajfa-15215	195	11	%	%	NOUN
ajfa-15215	195	12	and	and	CCONJ
ajfa-15215	195	13	1.69	1.69	NUM
ajfa-15215	195	14	%	%	NOUN
ajfa-15215	195	15	respectively	respectively	ADV
ajfa-15215	195	16	.	.	PUNCT
ajfa-15215	196	1	on	on	ADP
ajfa-15215	196	2	the	the	DET
ajfa-15215	196	3	other	other	ADJ
ajfa-15215	196	4	hand	hand	NOUN
ajfa-15215	196	5	,	,	PUNCT
ajfa-15215	196	6	portfolio	portfolio	NOUN
ajfa-15215	196	7	pe10	pe10	PROPN
ajfa-15215	196	8	and	and	CCONJ
ajfa-15215	196	9	pb10	pb10	PROPN
ajfa-15215	196	10	give	give	VERB
ajfa-15215	196	11	an	an	DET
ajfa-15215	196	12	average	average	ADJ
ajfa-15215	196	13	return	return	NOUN
ajfa-15215	196	14	of	of	ADP
ajfa-15215	196	15	0.56	0.56	NUM
ajfa-15215	196	16	%	%	NOUN
ajfa-15215	196	17	p.m.	p.m.	NOUN
ajfa-15215	197	1	and	and	CCONJ
ajfa-15215	197	2	0.78	0.78	NUM
ajfa-15215	197	3	%	%	NOUN
ajfa-15215	197	4	p.m.	p.m.	NOUN
ajfa-15215	197	5	respectively	respectively	ADV
ajfa-15215	197	6	.	.	PUNCT
ajfa-15215	198	1	thus	thus	ADV
ajfa-15215	198	2	,	,	PUNCT
ajfa-15215	198	3	investors	investor	NOUN
ajfa-15215	198	4	realise	realise	VERB
ajfa-15215	198	5	a	a	DET
ajfa-15215	198	6	mean	mean	ADJ
ajfa-15215	198	7	monthly	monthly	ADJ
ajfa-15215	198	8	return	return	NOUN
ajfa-15215	198	9	differential	differential	NOUN
ajfa-15215	198	10	of	of	ADP
ajfa-15215	198	11	1.38	1.38	NUM
ajfa-15215	198	12	%	%	NOUN
ajfa-15215	198	13	and	and	CCONJ
ajfa-15215	198	14	0.91	0.91	NUM
ajfa-15215	198	15	%	%	NOUN
ajfa-15215	198	16	from	from	ADP
ajfa-15215	198	17	p	p	PROPN
ajfa-15215	198	18	/	/	SYM
ajfa-15215	198	19	e	e	NOUN
ajfa-15215	198	20	based	base	VERB
ajfa-15215	198	21	asian	asian	ADJ
ajfa-15215	198	22	journal	journal	NOUN
ajfa-15215	198	23	of	of	ADP
ajfa-15215	198	24	finance	finance	PROPN
ajfa-15215	198	25	&	&	CCONJ
ajfa-15215	198	26	accounting	accounting	PROPN
ajfa-15215	198	27	issn	issn	PROPN
ajfa-15215	198	28	1946	1946	NUM
ajfa-15215	198	29	-	-	PUNCT
ajfa-15215	198	30	052x	052x	PROPN
ajfa-15215	198	31	2019	2019	NUM
ajfa-15215	198	32	,	,	PUNCT
ajfa-15215	198	33	vol	vol	NOUN
ajfa-15215	198	34	.	.	PROPN
ajfa-15215	198	35	11	11	NUM
ajfa-15215	198	36	,	,	PUNCT
ajfa-15215	198	37	no	no	INTJ
ajfa-15215	198	38	.	.	NOUN
ajfa-15215	198	39	2	2	NUM
ajfa-15215	198	40	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	198	41	50	50	NUM
ajfa-15215	198	42	and	and	CCONJ
ajfa-15215	198	43	p	p	X
ajfa-15215	198	44	/	/	SYM
ajfa-15215	198	45	b	b	PROPN
ajfa-15215	198	46	based	base	VERB
ajfa-15215	198	47	value	value	NOUN
ajfa-15215	198	48	investing	investing	NOUN
ajfa-15215	198	49	strategy	strategy	NOUN
ajfa-15215	198	50	respectively	respectively	ADV
ajfa-15215	198	51	.	.	PUNCT
ajfa-15215	199	1	annual	annual	ADJ
ajfa-15215	199	2	return	return	NOUN
ajfa-15215	199	3	of	of	ADP
ajfa-15215	199	4	16.56	16.56	NUM
ajfa-15215	199	5	%	%	NOUN
ajfa-15215	199	6	and	and	CCONJ
ajfa-15215	199	7	10.92	10.92	NUM
ajfa-15215	199	8	%	%	NOUN
ajfa-15215	199	9	can	can	AUX
ajfa-15215	199	10	be	be	AUX
ajfa-15215	199	11	earned	earn	VERB
ajfa-15215	199	12	by	by	ADP
ajfa-15215	199	13	a	a	DET
ajfa-15215	199	14	zero	zero	NUM
ajfa-15215	199	15	-	-	PUNCT
ajfa-15215	199	16	cost	cost	NOUN
ajfa-15215	199	17	arbitrage	arbitrage	NOUN
ajfa-15215	199	18	strategy	strategy	NOUN
ajfa-15215	199	19	which	which	PRON
ajfa-15215	199	20	involves	involve	VERB
ajfa-15215	199	21	going	go	VERB
ajfa-15215	199	22	long	long	ADV
ajfa-15215	199	23	in	in	ADP
ajfa-15215	199	24	low	low	ADJ
ajfa-15215	199	25	p	p	X
ajfa-15215	199	26	/	/	SYM
ajfa-15215	199	27	e(p	e(p	NOUN
ajfa-15215	199	28	/	/	SYM
ajfa-15215	199	29	b	b	NOUN
ajfa-15215	199	30	)	)	PUNCT
ajfa-15215	199	31	stocks	stock	NOUN
ajfa-15215	199	32	and	and	CCONJ
ajfa-15215	199	33	short	short	ADJ
ajfa-15215	199	34	in	in	ADP
ajfa-15215	199	35	high	high	ADJ
ajfa-15215	199	36	p	p	X
ajfa-15215	199	37	/	/	SYM
ajfa-15215	199	38	e(p	e(p	NOUN
ajfa-15215	199	39	/	/	SYM
ajfa-15215	199	40	b	b	NOUN
ajfa-15215	199	41	)	)	PUNCT
ajfa-15215	199	42	stocks	stock	NOUN
ajfa-15215	199	43	.	.	PUNCT
ajfa-15215	200	1	for	for	ADP
ajfa-15215	200	2	all	all	DET
ajfa-15215	200	3	growth	growth	NOUN
ajfa-15215	200	4	based	base	VERB
ajfa-15215	200	5	strategies	strategy	NOUN
ajfa-15215	200	6	,	,	PUNCT
ajfa-15215	200	7	higher	high	ADJ
ajfa-15215	200	8	returns	return	NOUN
ajfa-15215	200	9	are	be	AUX
ajfa-15215	200	10	observed	observe	VERB
ajfa-15215	200	11	for	for	ADP
ajfa-15215	200	12	portfolios	portfolio	NOUN
ajfa-15215	200	13	with	with	ADP
ajfa-15215	200	14	higher	high	ADJ
ajfa-15215	200	15	past	past	ADJ
ajfa-15215	200	16	growth	growth	NOUN
ajfa-15215	200	17	rate	rate	NOUN
ajfa-15215	200	18	vis	vis	X
ajfa-15215	200	19	-	-	PUNCT
ajfa-15215	200	20	à	à	X
ajfa-15215	200	21	-	-	PUNCT
ajfa-15215	200	22	vis	vis	X
ajfa-15215	200	23	portfolios	portfolio	NOUN
ajfa-15215	200	24	with	with	ADP
ajfa-15215	200	25	lower	low	ADJ
ajfa-15215	200	26	past	past	ADJ
ajfa-15215	200	27	growth	growth	NOUN
ajfa-15215	200	28	rate	rate	NOUN
ajfa-15215	200	29	.	.	PUNCT
ajfa-15215	201	1	portfolio	portfolio	PROPN
ajfa-15215	201	2	ns10sa	ns10sa	PROPN
ajfa-15215	201	3	,	,	PUNCT
ajfa-15215	201	4	ns10wa	ns10wa	X
ajfa-15215	201	5	and	and	CCONJ
ajfa-15215	201	6	ns10cagr	ns10cagr	PROPN
ajfa-15215	201	7	provide	provide	VERB
ajfa-15215	201	8	an	an	DET
ajfa-15215	201	9	average	average	ADJ
ajfa-15215	201	10	monthly	monthly	ADJ
ajfa-15215	201	11	return	return	NOUN
ajfa-15215	201	12	of	of	ADP
ajfa-15215	201	13	1.48	1.48	NUM
ajfa-15215	201	14	%	%	NOUN
ajfa-15215	201	15	,	,	PUNCT
ajfa-15215	201	16	1.43	1.43	NUM
ajfa-15215	201	17	%	%	NOUN
ajfa-15215	201	18	and	and	CCONJ
ajfa-15215	201	19	1.60	1.60	NUM
ajfa-15215	201	20	%	%	NOUN
ajfa-15215	201	21	respectively	respectively	ADV
ajfa-15215	201	22	.	.	PUNCT
ajfa-15215	202	1	in	in	ADP
ajfa-15215	202	2	contrast	contrast	NOUN
ajfa-15215	202	3	,	,	PUNCT
ajfa-15215	202	4	portfolios	portfolio	NOUN
ajfa-15215	202	5	ns1	ns1	PROPN
ajfa-15215	202	6	sa	sa	PROPN
ajfa-15215	202	7	,	,	PUNCT
ajfa-15215	202	8	ns1wa	ns1wa	NUM
ajfa-15215	202	9	and	and	CCONJ
ajfa-15215	202	10	ns1cagr	ns1cagr	NOUN
ajfa-15215	202	11	earn	earn	VERB
ajfa-15215	202	12	1.18	1.18	NUM
ajfa-15215	202	13	%	%	NOUN
ajfa-15215	202	14	,	,	PUNCT
ajfa-15215	202	15	1.13	1.13	NUM
ajfa-15215	202	16	%	%	NOUN
ajfa-15215	202	17	and	and	CCONJ
ajfa-15215	202	18	1.35	1.35	NUM
ajfa-15215	202	19	%	%	NOUN
ajfa-15215	202	20	respectively	respectively	ADV
ajfa-15215	202	21	p.m.	p.m.	NOUN
ajfa-15215	202	22	this	this	PRON
ajfa-15215	202	23	gives	give	VERB
ajfa-15215	202	24	an	an	DET
ajfa-15215	202	25	average	average	ADJ
ajfa-15215	202	26	monthly	monthly	ADJ
ajfa-15215	202	27	return	return	NOUN
ajfa-15215	202	28	premium	premium	NOUN
ajfa-15215	202	29	of	of	ADP
ajfa-15215	202	30	0.30	0.30	NUM
ajfa-15215	202	31	%	%	NOUN
ajfa-15215	202	32	,	,	PUNCT
ajfa-15215	202	33	0.29	0.29	NUM
ajfa-15215	202	34	%	%	NOUN
ajfa-15215	202	35	and	and	CCONJ
ajfa-15215	202	36	0.25	0.25	NUM
ajfa-15215	202	37	%	%	NOUN
ajfa-15215	202	38	for	for	ADP
ajfa-15215	202	39	the	the	DET
ajfa-15215	202	40	above	above	ADV
ajfa-15215	202	41	mentioned	mention	VERB
ajfa-15215	202	42	strategies	strategy	NOUN
ajfa-15215	202	43	,	,	PUNCT
ajfa-15215	202	44	when	when	SCONJ
ajfa-15215	202	45	investors	investor	NOUN
ajfa-15215	202	46	go	go	VERB
ajfa-15215	202	47	short	short	ADV
ajfa-15215	202	48	in	in	ADP
ajfa-15215	202	49	low	low	ADJ
ajfa-15215	202	50	growth	growth	NOUN
ajfa-15215	202	51	stocks	stock	NOUN
ajfa-15215	202	52	and	and	CCONJ
ajfa-15215	202	53	long	long	ADV
ajfa-15215	202	54	in	in	ADP
ajfa-15215	202	55	high	high	ADJ
ajfa-15215	202	56	growth	growth	NOUN
ajfa-15215	202	57	stocks	stock	NOUN
ajfa-15215	202	58	.	.	PUNCT
ajfa-15215	203	1	high	high	ADJ
ajfa-15215	203	2	earnings	earning	NOUN
ajfa-15215	203	3	growth	growth	NOUN
ajfa-15215	203	4	portfolios	portfolio	NOUN
ajfa-15215	203	5	e10	e10	PROPN
ajfa-15215	203	6	sa	sa	PROPN
ajfa-15215	203	7	,	,	PUNCT
ajfa-15215	203	8	e10wa	e10wa	PROPN
ajfa-15215	203	9	and	and	CCONJ
ajfa-15215	203	10	e10cagr	e10cagr	PROPN
ajfa-15215	203	11	earn	earn	VERB
ajfa-15215	203	12	1.55	1.55	NUM
ajfa-15215	203	13	%	%	NOUN
ajfa-15215	203	14	p.m.	p.m.	NOUN
ajfa-15215	203	15	,	,	PUNCT
ajfa-15215	203	16	1.64	1.64	NUM
ajfa-15215	203	17	%	%	NOUN
ajfa-15215	203	18	p.m.	p.m.	NOUN
ajfa-15215	204	1	and	and	CCONJ
ajfa-15215	204	2	1.41	1.41	NUM
ajfa-15215	204	3	%	%	NOUN
ajfa-15215	204	4	p.m.	p.m.	ADV
ajfa-15215	204	5	respectively	respectively	ADV
ajfa-15215	204	6	.	.	PUNCT
ajfa-15215	205	1	on	on	ADP
ajfa-15215	205	2	the	the	DET
ajfa-15215	205	3	other	other	ADJ
ajfa-15215	205	4	hand	hand	NOUN
ajfa-15215	205	5	,	,	PUNCT
ajfa-15215	205	6	low	low	ADJ
ajfa-15215	205	7	earnings	earning	NOUN
ajfa-15215	205	8	growth	growth	NOUN
ajfa-15215	205	9	stocks	stock	NOUN
ajfa-15215	205	10	in	in	ADP
ajfa-15215	205	11	portfolios	portfolio	NOUN
ajfa-15215	205	12	e1sa	e1sa	X
ajfa-15215	205	13	,	,	PUNCT
ajfa-15215	205	14	e1wa	e1wa	PUNCT
ajfa-15215	205	15	and	and	CCONJ
ajfa-15215	205	16	e1cagr	e1cagr	NOUN
ajfa-15215	205	17	give	give	VERB
ajfa-15215	205	18	mean	mean	VERB
ajfa-15215	205	19	monthly	monthly	ADJ
ajfa-15215	205	20	return	return	NOUN
ajfa-15215	205	21	of	of	ADP
ajfa-15215	205	22	0.84	0.84	NUM
ajfa-15215	205	23	%	%	NOUN
ajfa-15215	205	24	,	,	PUNCT
ajfa-15215	205	25	1.04	1.04	NUM
ajfa-15215	205	26	%	%	NOUN
ajfa-15215	205	27	and	and	CCONJ
ajfa-15215	205	28	0.92	0.92	NUM
ajfa-15215	205	29	%	%	NOUN
ajfa-15215	205	30	respectively	respectively	ADV
ajfa-15215	205	31	.	.	PUNCT
ajfa-15215	206	1	zero	zero	NUM
ajfa-15215	206	2	cost	cost	NOUN
ajfa-15215	206	3	portfolios	portfolio	NOUN
ajfa-15215	206	4	with	with	ADP
ajfa-15215	206	5	long	long	ADJ
ajfa-15215	206	6	position	position	NOUN
ajfa-15215	206	7	in	in	ADP
ajfa-15215	206	8	high	high	ADJ
ajfa-15215	206	9	growth	growth	NOUN
ajfa-15215	206	10	stocks	stock	NOUN
ajfa-15215	206	11	and	and	CCONJ
ajfa-15215	206	12	short	short	ADJ
ajfa-15215	206	13	position	position	NOUN
ajfa-15215	206	14	in	in	ADP
ajfa-15215	206	15	low	low	ADJ
ajfa-15215	206	16	growth	growth	NOUN
ajfa-15215	206	17	stocks	stock	NOUN
ajfa-15215	206	18	provide	provide	VERB
ajfa-15215	206	19	a	a	DET
ajfa-15215	206	20	return	return	NOUN
ajfa-15215	206	21	differential	differential	NOUN
ajfa-15215	206	22	of	of	ADP
ajfa-15215	206	23	0.72	0.72	NUM
ajfa-15215	206	24	%	%	NOUN
ajfa-15215	206	25	p.m.	p.m.	NOUN
ajfa-15215	206	26	,	,	PUNCT
ajfa-15215	206	27	0.60	0.60	NUM
ajfa-15215	206	28	%	%	NOUN
ajfa-15215	206	29	p.m.	p.m.	NOUN
ajfa-15215	207	1	and	and	CCONJ
ajfa-15215	207	2	0.49	0.49	NUM
ajfa-15215	207	3	%	%	NOUN
ajfa-15215	207	4	p.m.	p.m.	NOUN
ajfa-15215	207	5	respectively	respectively	ADV
ajfa-15215	207	6	.	.	PUNCT
ajfa-15215	208	1	we	we	PRON
ajfa-15215	208	2	observe	observe	VERB
ajfa-15215	208	3	that	that	SCONJ
ajfa-15215	208	4	low	low	ADJ
ajfa-15215	208	5	p	p	X
ajfa-15215	208	6	/	/	SYM
ajfa-15215	208	7	e(p	e(p	NOUN
ajfa-15215	208	8	/	/	SYM
ajfa-15215	208	9	b	b	NOUN
ajfa-15215	208	10	)	)	PUNCT
ajfa-15215	208	11	stocks	stock	NOUN
ajfa-15215	208	12	are	be	AUX
ajfa-15215	208	13	outperforming	outperform	VERB
ajfa-15215	208	14	high	high	ADJ
ajfa-15215	208	15	(	(	PUNCT
ajfa-15215	208	16	p	p	X
ajfa-15215	208	17	/	/	SYM
ajfa-15215	208	18	e)/(p	e)/(p	PROPN
ajfa-15215	208	19	/	/	SYM
ajfa-15215	208	20	b	b	NOUN
ajfa-15215	208	21	)	)	PUNCT
ajfa-15215	208	22	stocks	stock	NOUN
ajfa-15215	208	23	.	.	PUNCT
ajfa-15215	209	1	at	at	ADP
ajfa-15215	209	2	the	the	DET
ajfa-15215	209	3	same	same	ADJ
ajfa-15215	209	4	time	time	NOUN
ajfa-15215	209	5	,	,	PUNCT
ajfa-15215	209	6	stocks	stock	NOUN
ajfa-15215	209	7	with	with	ADP
ajfa-15215	209	8	higher	high	ADJ
ajfa-15215	209	9	past	past	ADJ
ajfa-15215	209	10	growth	growth	NOUN
ajfa-15215	209	11	rates	rate	NOUN
ajfa-15215	209	12	are	be	AUX
ajfa-15215	209	13	also	also	ADV
ajfa-15215	209	14	giving	give	VERB
ajfa-15215	209	15	better	well	ADJ
ajfa-15215	209	16	returns	return	NOUN
ajfa-15215	209	17	than	than	ADP
ajfa-15215	209	18	low	low	ADJ
ajfa-15215	209	19	growth	growth	NOUN
ajfa-15215	209	20	stocks	stock	NOUN
ajfa-15215	209	21	.	.	PUNCT
ajfa-15215	210	1	this	this	PRON
ajfa-15215	210	2	leads	lead	VERB
ajfa-15215	210	3	us	we	PRON
ajfa-15215	210	4	to	to	PART
ajfa-15215	210	5	investigate	investigate	VERB
ajfa-15215	210	6	if	if	SCONJ
ajfa-15215	210	7	value	value	NOUN
ajfa-15215	210	8	and	and	CCONJ
ajfa-15215	210	9	growth	growth	NOUN
ajfa-15215	210	10	are	be	AUX
ajfa-15215	210	11	on	on	ADP
ajfa-15215	210	12	a	a	DET
ajfa-15215	210	13	separate	separate	ADJ
ajfa-15215	210	14	continuum	continuum	NOUN
ajfa-15215	210	15	.	.	PUNCT
ajfa-15215	211	1	amongst	amongst	ADP
ajfa-15215	211	2	the	the	DET
ajfa-15215	211	3	various	various	ADJ
ajfa-15215	211	4	value	value	NOUN
ajfa-15215	211	5	and	and	CCONJ
ajfa-15215	211	6	growth	growth	NOUN
ajfa-15215	211	7	based	base	VERB
ajfa-15215	211	8	investing	invest	VERB
ajfa-15215	211	9	styles	style	NOUN
ajfa-15215	211	10	used	use	VERB
ajfa-15215	211	11	for	for	ADP
ajfa-15215	211	12	checking	check	VERB
ajfa-15215	211	13	robustness	robustness	NOUN
ajfa-15215	211	14	of	of	ADP
ajfa-15215	211	15	our	our	PRON
ajfa-15215	211	16	results	result	NOUN
ajfa-15215	211	17	,	,	PUNCT
ajfa-15215	211	18	we	we	PRON
ajfa-15215	211	19	observe	observe	VERB
ajfa-15215	211	20	that	that	SCONJ
ajfa-15215	211	21	maximum	maximum	ADJ
ajfa-15215	211	22	return	return	NOUN
ajfa-15215	211	23	differentials	differential	NOUN
ajfa-15215	211	24	are	be	AUX
ajfa-15215	211	25	provided	provide	VERB
ajfa-15215	211	26	by	by	ADP
ajfa-15215	211	27	zero	zero	NUM
ajfa-15215	211	28	cost	cost	NOUN
ajfa-15215	211	29	pe	pe	NOUN
ajfa-15215	211	30	based	base	VERB
ajfa-15215	211	31	strategy	strategy	NOUN
ajfa-15215	211	32	(	(	PUNCT
ajfa-15215	211	33	i.e.	i.e.	X
ajfa-15215	211	34	pe1	pe1	PROPN
ajfa-15215	211	35	-	-	PUNCT
ajfa-15215	211	36	pe10	pe10	PROPN
ajfa-15215	211	37	)	)	PUNCT
ajfa-15215	211	38	and	and	CCONJ
ajfa-15215	211	39	earnings	earning	NOUN
ajfa-15215	211	40	’	'	PUNCT
ajfa-15215	211	41	average	average	ADJ
ajfa-15215	211	42	growth	growth	NOUN
ajfa-15215	211	43	based	base	VERB
ajfa-15215	211	44	strategy	strategy	NOUN
ajfa-15215	211	45	(	(	PUNCT
ajfa-15215	211	46	i.e.	i.e.	X
ajfa-15215	211	47	e10sa	e10sa	X
ajfa-15215	211	48	e1sa	e1sa	NOUN
ajfa-15215	211	49	)	)	PUNCT
ajfa-15215	211	50	.	.	PUNCT
ajfa-15215	212	1	henceforth	henceforth	ADV
ajfa-15215	212	2	,	,	PUNCT
ajfa-15215	212	3	all	all	DET
ajfa-15215	212	4	analysis	analysis	NOUN
ajfa-15215	212	5	is	be	AUX
ajfa-15215	212	6	done	do	VERB
ajfa-15215	212	7	on	on	ADP
ajfa-15215	212	8	these	these	DET
ajfa-15215	212	9	two	two	NUM
ajfa-15215	212	10	criteria	criterion	NOUN
ajfa-15215	212	11	.	.	PUNCT
ajfa-15215	213	1	further	far	ADV
ajfa-15215	213	2	,	,	PUNCT
ajfa-15215	213	3	we	we	PRON
ajfa-15215	213	4	analyse	analyse	VERB
ajfa-15215	213	5	the	the	DET
ajfa-15215	213	6	growth	growth	NOUN
ajfa-15215	213	7	rates	rate	NOUN
ajfa-15215	213	8	of	of	ADP
ajfa-15215	213	9	p	p	X
ajfa-15215	213	10	/	/	SYM
ajfa-15215	213	11	e	e	NOUN
ajfa-15215	213	12	based	base	VERB
ajfa-15215	213	13	sample	sample	NOUN
ajfa-15215	213	14	portfolios	portfolio	NOUN
ajfa-15215	213	15	.	.	PUNCT
ajfa-15215	214	1	low	low	ADJ
ajfa-15215	214	2	p	p	X
ajfa-15215	214	3	/	/	SYM
ajfa-15215	214	4	e	e	NOUN
ajfa-15215	214	5	stocks	stock	NOUN
ajfa-15215	214	6	have	have	VERB
ajfa-15215	214	7	lower	low	ADJ
ajfa-15215	214	8	past	past	ADJ
ajfa-15215	214	9	growth	growth	NOUN
ajfa-15215	214	10	rate	rate	NOUN
ajfa-15215	214	11	vis	vis	X
ajfa-15215	214	12	-	-	PUNCT
ajfa-15215	214	13	à	à	X
ajfa-15215	214	14	-	-	PUNCT
ajfa-15215	214	15	vis	vis	X
ajfa-15215	214	16	high	high	ADJ
ajfa-15215	214	17	p	p	X
ajfa-15215	214	18	/	/	SYM
ajfa-15215	214	19	e	e	NOUN
ajfa-15215	214	20	stocks	stock	NOUN
ajfa-15215	214	21	.	.	PUNCT
ajfa-15215	215	1	thus	thus	ADV
ajfa-15215	215	2	,	,	PUNCT
ajfa-15215	215	3	they	they	PRON
ajfa-15215	215	4	are	be	AUX
ajfa-15215	215	5	classified	classify	VERB
ajfa-15215	215	6	as	as	ADP
ajfa-15215	215	7	relatively	relatively	ADV
ajfa-15215	215	8	distressed	distressed	ADJ
ajfa-15215	215	9	securities	security	NOUN
ajfa-15215	215	10	.	.	PUNCT
ajfa-15215	216	1	but	but	CCONJ
ajfa-15215	216	2	,	,	PUNCT
ajfa-15215	216	3	future	future	ADJ
ajfa-15215	216	4	growth	growth	NOUN
ajfa-15215	216	5	rate	rate	NOUN
ajfa-15215	216	6	of	of	ADP
ajfa-15215	216	7	low	low	ADJ
ajfa-15215	216	8	p	p	X
ajfa-15215	216	9	/	/	SYM
ajfa-15215	216	10	e	e	NOUN
ajfa-15215	216	11	stocks	stock	NOUN
ajfa-15215	216	12	is	be	AUX
ajfa-15215	216	13	higher	high	ADJ
ajfa-15215	216	14	as	as	SCONJ
ajfa-15215	216	15	compared	compare	VERB
ajfa-15215	216	16	to	to	ADP
ajfa-15215	216	17	future	future	ADJ
ajfa-15215	216	18	growth	growth	NOUN
ajfa-15215	216	19	of	of	ADP
ajfa-15215	216	20	high	high	ADJ
ajfa-15215	216	21	p	p	X
ajfa-15215	216	22	/	/	SYM
ajfa-15215	216	23	e	e	NOUN
ajfa-15215	216	24	stocks	stock	NOUN
ajfa-15215	216	25	.	.	PUNCT
ajfa-15215	217	1	reversal	reversal	NOUN
ajfa-15215	217	2	in	in	ADP
ajfa-15215	217	3	their	their	PRON
ajfa-15215	217	4	growth	growth	NOUN
ajfa-15215	217	5	rates	rate	NOUN
ajfa-15215	217	6	explains	explain	VERB
ajfa-15215	217	7	the	the	DET
ajfa-15215	217	8	value	value	NOUN
ajfa-15215	217	9	effect	effect	NOUN
ajfa-15215	217	10	.	.	PUNCT
ajfa-15215	218	1	investors	investor	NOUN
ajfa-15215	218	2	may	may	AUX
ajfa-15215	218	3	have	have	AUX
ajfa-15215	218	4	undervalued	undervalue	VERB
ajfa-15215	218	5	low	low	ADJ
ajfa-15215	218	6	pe	pe	ADP
ajfa-15215	218	7	stocks	stock	NOUN
ajfa-15215	218	8	due	due	ADP
ajfa-15215	218	9	to	to	ADP
ajfa-15215	218	10	the	the	DET
ajfa-15215	218	11	relative	relative	ADJ
ajfa-15215	218	12	distress	distress	NOUN
ajfa-15215	218	13	associated	associate	VERB
ajfa-15215	218	14	with	with	ADP
ajfa-15215	218	15	them	they	PRON
ajfa-15215	218	16	,	,	PUNCT
ajfa-15215	218	17	but	but	CCONJ
ajfa-15215	218	18	they	they	PRON
ajfa-15215	218	19	are	be	AUX
ajfa-15215	218	20	not	not	PART
ajfa-15215	218	21	so	so	ADV
ajfa-15215	218	22	bad	bad	ADJ
ajfa-15215	218	23	if	if	SCONJ
ajfa-15215	218	24	we	we	PRON
ajfa-15215	218	25	look	look	VERB
ajfa-15215	218	26	at	at	ADP
ajfa-15215	218	27	their	their	PRON
ajfa-15215	218	28	future	future	ADJ
ajfa-15215	218	29	growth	growth	NOUN
ajfa-15215	218	30	.	.	PUNCT
ajfa-15215	219	1	this	this	PRON
ajfa-15215	219	2	leads	lead	VERB
ajfa-15215	219	3	to	to	ADP
ajfa-15215	219	4	an	an	DET
ajfa-15215	219	5	increase	increase	NOUN
ajfa-15215	219	6	in	in	ADP
ajfa-15215	219	7	their	their	PRON
ajfa-15215	219	8	value	value	NOUN
ajfa-15215	219	9	as	as	SCONJ
ajfa-15215	219	10	market	market	NOUN
ajfa-15215	219	11	realises	realise	VERB
ajfa-15215	219	12	their	their	PRON
ajfa-15215	219	13	potential	potential	NOUN
ajfa-15215	219	14	.	.	PUNCT
ajfa-15215	220	1	at	at	ADP
ajfa-15215	220	2	the	the	DET
ajfa-15215	220	3	same	same	ADJ
ajfa-15215	220	4	time	time	NOUN
ajfa-15215	220	5	,	,	PUNCT
ajfa-15215	220	6	investors	investor	NOUN
ajfa-15215	220	7	believe	believe	VERB
ajfa-15215	220	8	high	high	ADJ
ajfa-15215	220	9	p	p	X
ajfa-15215	220	10	/	/	SYM
ajfa-15215	220	11	e	e	NOUN
ajfa-15215	220	12	stocks	stock	NOUN
ajfa-15215	220	13	to	to	PART
ajfa-15215	220	14	be	be	AUX
ajfa-15215	220	15	much	much	ADV
ajfa-15215	220	16	better	well	ADJ
ajfa-15215	220	17	than	than	SCONJ
ajfa-15215	220	18	they	they	PRON
ajfa-15215	220	19	actually	actually	ADV
ajfa-15215	220	20	are	be	AUX
ajfa-15215	220	21	.	.	PUNCT
ajfa-15215	221	1	this	this	PRON
ajfa-15215	221	2	is	be	AUX
ajfa-15215	221	3	shown	show	VERB
ajfa-15215	221	4	by	by	ADP
ajfa-15215	221	5	the	the	DET
ajfa-15215	221	6	bend	bend	NOUN
ajfa-15215	221	7	in	in	ADP
ajfa-15215	221	8	their	their	PRON
ajfa-15215	221	9	future	future	ADJ
ajfa-15215	221	10	growth	growth	NOUN
ajfa-15215	221	11	rates	rate	NOUN
ajfa-15215	221	12	.	.	PUNCT
ajfa-15215	222	1	on	on	ADP
ajfa-15215	222	2	the	the	DET
ajfa-15215	222	3	other	other	ADJ
ajfa-15215	222	4	hand	hand	NOUN
ajfa-15215	222	5	,	,	PUNCT
ajfa-15215	222	6	stocks	stock	NOUN
ajfa-15215	222	7	with	with	ADP
ajfa-15215	222	8	higher	high	ADJ
ajfa-15215	222	9	past	past	ADJ
ajfa-15215	222	10	growth	growth	NOUN
ajfa-15215	222	11	continue	continue	VERB
ajfa-15215	222	12	to	to	PART
ajfa-15215	222	13	have	have	VERB
ajfa-15215	222	14	higher	high	ADJ
ajfa-15215	222	15	growth	growth	NOUN
ajfa-15215	222	16	rate	rate	NOUN
ajfa-15215	222	17	in	in	ADP
ajfa-15215	222	18	future	future	NOUN
ajfa-15215	222	19	vis	vis	X
ajfa-15215	222	20	-	-	ADJ
ajfa-15215	222	21	à	à	X
ajfa-15215	222	22	-	-	PUNCT
ajfa-15215	222	23	vis	vis	X
ajfa-15215	222	24	low	low	ADJ
ajfa-15215	222	25	growth	growth	NOUN
ajfa-15215	222	26	portfolios	portfolio	NOUN
ajfa-15215	222	27	.	.	PUNCT
ajfa-15215	223	1	so	so	ADV
ajfa-15215	223	2	,	,	PUNCT
ajfa-15215	223	3	significant	significant	ADJ
ajfa-15215	223	4	profits	profit	NOUN
ajfa-15215	223	5	can	can	AUX
ajfa-15215	223	6	be	be	AUX
ajfa-15215	223	7	realised	realise	VERB
ajfa-15215	223	8	by	by	ADP
ajfa-15215	223	9	growth	growth	NOUN
ajfa-15215	223	10	based	base	VERB
ajfa-15215	223	11	investing	investing	NOUN
ajfa-15215	223	12	style	style	NOUN
ajfa-15215	223	13	,	,	PUNCT
ajfa-15215	223	14	which	which	PRON
ajfa-15215	223	15	is	be	AUX
ajfa-15215	223	16	based	base	VERB
ajfa-15215	223	17	on	on	ADP
ajfa-15215	223	18	future	future	ADJ
ajfa-15215	223	19	growth	growth	NOUN
ajfa-15215	223	20	potential	potential	NOUN
ajfa-15215	223	21	.	.	PUNCT
ajfa-15215	224	1	this	this	PRON
ajfa-15215	224	2	explains	explain	VERB
ajfa-15215	224	3	profitability	profitability	NOUN
ajfa-15215	224	4	of	of	ADP
ajfa-15215	224	5	value	value	NOUN
ajfa-15215	224	6	as	as	ADP
ajfa-15215	224	7	-	-	PUNCT
ajfa-15215	224	8	well	well	ADV
ajfa-15215	224	9	-	-	PUNCT
ajfa-15215	224	10	as	as	ADV
ajfa-15215	224	11	growth	growth	NOUN
ajfa-15215	224	12	based	base	VERB
ajfa-15215	224	13	investing	invest	VERB
ajfa-15215	224	14	in	in	ADP
ajfa-15215	224	15	the	the	DET
ajfa-15215	224	16	indian	indian	ADJ
ajfa-15215	224	17	market	market	NOUN
ajfa-15215	224	18	.	.	PUNCT
ajfa-15215	225	1	on	on	ADP
ajfa-15215	225	2	further	further	ADJ
ajfa-15215	225	3	analysis	analysis	NOUN
ajfa-15215	225	4	,	,	PUNCT
ajfa-15215	225	5	we	we	PRON
ajfa-15215	225	6	find	find	VERB
ajfa-15215	225	7	negative	negative	ADJ
ajfa-15215	225	8	correlation	correlation	NOUN
ajfa-15215	225	9	of	of	ADP
ajfa-15215	225	10	-0.214	-0.214	PUNCT
ajfa-15215	225	11	between	between	ADP
ajfa-15215	225	12	return	return	VERB
ajfa-15215	225	13	premiums	premium	NOUN
ajfa-15215	225	14	of	of	ADP
ajfa-15215	225	15	value	value	NOUN
ajfa-15215	225	16	and	and	CCONJ
ajfa-15215	225	17	growth	growth	NOUN
ajfa-15215	225	18	based	base	VERB
ajfa-15215	225	19	strategies	strategy	NOUN
ajfa-15215	225	20	,	,	PUNCT
ajfa-15215	225	21	which	which	PRON
ajfa-15215	225	22	suggests	suggest	VERB
ajfa-15215	225	23	a	a	DET
ajfa-15215	225	24	countercyclical	countercyclical	ADJ
ajfa-15215	225	25	relation	relation	NOUN
ajfa-15215	225	26	between	between	ADP
ajfa-15215	225	27	them	they	PRON
ajfa-15215	225	28	.	.	PUNCT
ajfa-15215	226	1	(	(	PUNCT
ajfa-15215	226	2	see	see	VERB
ajfa-15215	226	3	figure	figure	NOUN
ajfa-15215	226	4	1	1	NUM
ajfa-15215	226	5	)	)	PUNCT
ajfa-15215	226	6	.	.	PUNCT
ajfa-15215	227	1	this	this	PRON
ajfa-15215	227	2	can	can	AUX
ajfa-15215	227	3	be	be	AUX
ajfa-15215	227	4	explained	explain	VERB
ajfa-15215	227	5	using	use	VERB
ajfa-15215	227	6	behavioural	behavioural	ADJ
ajfa-15215	227	7	reaction	reaction	NOUN
ajfa-15215	227	8	of	of	ADP
ajfa-15215	227	9	investors	investor	NOUN
ajfa-15215	227	10	in	in	ADP
ajfa-15215	227	11	different	different	ADJ
ajfa-15215	227	12	market	market	NOUN
ajfa-15215	227	13	situations	situation	NOUN
ajfa-15215	227	14	.	.	PUNCT
ajfa-15215	228	1	when	when	SCONJ
ajfa-15215	228	2	business	business	NOUN
ajfa-15215	228	3	conditions	condition	NOUN
ajfa-15215	228	4	are	be	AUX
ajfa-15215	228	5	robust	robust	ADJ
ajfa-15215	228	6	and	and	CCONJ
ajfa-15215	228	7	markets	market	NOUN
ajfa-15215	228	8	are	be	AUX
ajfa-15215	228	9	in	in	ADP
ajfa-15215	228	10	upswing	upswe	VERB
ajfa-15215	228	11	,	,	PUNCT
ajfa-15215	228	12	investors	investor	NOUN
ajfa-15215	228	13	tend	tend	VERB
ajfa-15215	228	14	to	to	PART
ajfa-15215	228	15	overreact	overreact	VERB
ajfa-15215	228	16	asian	asian	ADJ
ajfa-15215	228	17	journal	journal	NOUN
ajfa-15215	228	18	of	of	ADP
ajfa-15215	228	19	finance	finance	PROPN
ajfa-15215	228	20	&	&	CCONJ
ajfa-15215	228	21	accounting	accounting	PROPN
ajfa-15215	228	22	issn	issn	PROPN
ajfa-15215	228	23	1946	1946	NUM
ajfa-15215	228	24	-	-	PUNCT
ajfa-15215	228	25	052x	052x	PROPN
ajfa-15215	228	26	2019	2019	NUM
ajfa-15215	228	27	,	,	PUNCT
ajfa-15215	228	28	vol	vol	NOUN
ajfa-15215	228	29	.	.	PROPN
ajfa-15215	229	1	11	11	NUM
ajfa-15215	229	2	,	,	PUNCT
ajfa-15215	229	3	no	no	INTJ
ajfa-15215	229	4	.	.	NOUN
ajfa-15215	229	5	2	2	NUM
ajfa-15215	229	6	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	229	7	51	51	NUM
ajfa-15215	229	8	to	to	PART
ajfa-15215	229	9	good	good	ADJ
ajfa-15215	229	10	as	as	ADV
ajfa-15215	229	11	well	well	ADV
ajfa-15215	229	12	as	as	ADP
ajfa-15215	229	13	to	to	ADP
ajfa-15215	229	14	bad	bad	ADJ
ajfa-15215	229	15	information	information	NOUN
ajfa-15215	229	16	.	.	PUNCT
ajfa-15215	230	1	this	this	DET
ajfa-15215	230	2	sentiment	sentiment	NOUN
ajfa-15215	230	3	driven	drive	VERB
ajfa-15215	230	4	market	market	NOUN
ajfa-15215	230	5	leads	lead	VERB
ajfa-15215	230	6	to	to	ADP
ajfa-15215	230	7	overvaluation	overvaluation	NOUN
ajfa-15215	230	8	of	of	ADP
ajfa-15215	230	9	high	high	ADJ
ajfa-15215	230	10	growth	growth	NOUN
ajfa-15215	230	11	stocks	stock	NOUN
ajfa-15215	230	12	.	.	PUNCT
ajfa-15215	231	1	at	at	ADP
ajfa-15215	231	2	the	the	DET
ajfa-15215	231	3	same	same	ADJ
ajfa-15215	231	4	time	time	NOUN
ajfa-15215	231	5	,	,	PUNCT
ajfa-15215	231	6	overreaction	overreaction	NOUN
ajfa-15215	231	7	to	to	ADP
ajfa-15215	231	8	bad	bad	ADJ
ajfa-15215	231	9	news	news	NOUN
ajfa-15215	231	10	leads	lead	VERB
ajfa-15215	231	11	to	to	ADP
ajfa-15215	231	12	undervaluation	undervaluation	NOUN
ajfa-15215	231	13	of	of	ADP
ajfa-15215	231	14	relatively	relatively	ADV
ajfa-15215	231	15	distressed	distressed	ADJ
ajfa-15215	231	16	low	low	ADJ
ajfa-15215	231	17	p	p	X
ajfa-15215	231	18	/	/	SYM
ajfa-15215	231	19	e	e	NOUN
ajfa-15215	231	20	and	and	CCONJ
ajfa-15215	231	21	low	low	ADJ
ajfa-15215	231	22	p	p	PROPN
ajfa-15215	231	23	/	/	SYM
ajfa-15215	231	24	b	b	NOUN
ajfa-15215	231	25	stocks	stock	NOUN
ajfa-15215	231	26	.	.	PUNCT
ajfa-15215	232	1	thus	thus	ADV
ajfa-15215	232	2	,	,	PUNCT
ajfa-15215	232	3	significant	significant	ADJ
ajfa-15215	232	4	profits	profit	NOUN
ajfa-15215	232	5	can	can	AUX
ajfa-15215	232	6	be	be	AUX
ajfa-15215	232	7	earned	earn	VERB
ajfa-15215	232	8	by	by	ADP
ajfa-15215	232	9	staying	stay	VERB
ajfa-15215	232	10	invested	invest	VERB
ajfa-15215	232	11	in	in	ADP
ajfa-15215	232	12	value	value	NOUN
ajfa-15215	232	13	stocks	stock	NOUN
ajfa-15215	232	14	.	.	PUNCT
ajfa-15215	233	1	on	on	ADP
ajfa-15215	233	2	the	the	DET
ajfa-15215	233	3	other	other	ADJ
ajfa-15215	233	4	hand	hand	NOUN
ajfa-15215	233	5	,	,	PUNCT
ajfa-15215	233	6	in	in	ADP
ajfa-15215	233	7	pessimistic	pessimistic	ADJ
ajfa-15215	233	8	situations	situation	NOUN
ajfa-15215	233	9	when	when	SCONJ
ajfa-15215	233	10	markets	market	NOUN
ajfa-15215	233	11	are	be	AUX
ajfa-15215	233	12	in	in	ADP
ajfa-15215	233	13	a	a	DET
ajfa-15215	233	14	downturn	downturn	NOUN
ajfa-15215	233	15	,	,	PUNCT
ajfa-15215	233	16	investor	investor	NOUN
ajfa-15215	233	17	sentiment	sentiment	NOUN
ajfa-15215	233	18	dries	dry	VERB
ajfa-15215	233	19	out	out	ADP
ajfa-15215	233	20	and	and	CCONJ
ajfa-15215	233	21	investors	investor	NOUN
ajfa-15215	233	22	resort	resort	VERB
ajfa-15215	233	23	back	back	ADV
ajfa-15215	233	24	to	to	ADP
ajfa-15215	233	25	fundamentals	fundamental	NOUN
ajfa-15215	233	26	.	.	PUNCT
ajfa-15215	234	1	previous	previous	ADJ
ajfa-15215	234	2	over	over	ADP
ajfa-15215	234	3	valuation	valuation	NOUN
ajfa-15215	234	4	of	of	ADP
ajfa-15215	234	5	growth	growth	NOUN
ajfa-15215	234	6	stocks	stock	NOUN
ajfa-15215	234	7	is	be	AUX
ajfa-15215	234	8	corrected	correct	VERB
ajfa-15215	234	9	in	in	ADP
ajfa-15215	234	10	this	this	DET
ajfa-15215	234	11	phase	phase	NOUN
ajfa-15215	234	12	,	,	PUNCT
ajfa-15215	234	13	and	and	CCONJ
ajfa-15215	234	14	market	market	NOUN
ajfa-15215	234	15	players	player	NOUN
ajfa-15215	234	16	tend	tend	VERB
ajfa-15215	234	17	to	to	PART
ajfa-15215	234	18	invest	invest	VERB
ajfa-15215	234	19	in	in	ADP
ajfa-15215	234	20	securities	security	NOUN
ajfa-15215	234	21	with	with	ADP
ajfa-15215	234	22	high	high	ADJ
ajfa-15215	234	23	past	past	ADJ
ajfa-15215	234	24	growth	growth	NOUN
ajfa-15215	234	25	with	with	ADP
ajfa-15215	234	26	the	the	DET
ajfa-15215	234	27	belief	belief	NOUN
ajfa-15215	234	28	that	that	SCONJ
ajfa-15215	234	29	this	this	DET
ajfa-15215	234	30	growth	growth	NOUN
ajfa-15215	234	31	rate	rate	NOUN
ajfa-15215	234	32	will	will	AUX
ajfa-15215	234	33	continue	continue	VERB
ajfa-15215	234	34	in	in	ADP
ajfa-15215	234	35	future	future	NOUN
ajfa-15215	234	36	.	.	PUNCT
ajfa-15215	235	1	so	so	ADV
ajfa-15215	235	2	,	,	PUNCT
ajfa-15215	235	3	a	a	DET
ajfa-15215	235	4	combined	combine	VERB
ajfa-15215	235	5	value	value	NOUN
ajfa-15215	235	6	and	and	CCONJ
ajfa-15215	235	7	growth	growth	NOUN
ajfa-15215	235	8	strategy	strategy	NOUN
ajfa-15215	235	9	can	can	AUX
ajfa-15215	235	10	diversify	diversify	VERB
ajfa-15215	235	11	risk	risk	NOUN
ajfa-15215	235	12	and	and	CCONJ
ajfa-15215	235	13	give	give	VERB
ajfa-15215	235	14	enhanced	enhanced	ADJ
ajfa-15215	235	15	profits	profit	NOUN
ajfa-15215	235	16	as	as	SCONJ
ajfa-15215	235	17	compared	compare	VERB
ajfa-15215	235	18	to	to	ADP
ajfa-15215	235	19	univariate	univariate	ADJ
ajfa-15215	235	20	value	value	NOUN
ajfa-15215	235	21	based	base	VERB
ajfa-15215	235	22	or	or	CCONJ
ajfa-15215	235	23	growth	growth	NOUN
ajfa-15215	235	24	based	base	VERB
ajfa-15215	235	25	investing	invest	VERB
ajfa-15215	235	26	styles	style	NOUN
ajfa-15215	235	27	.	.	PUNCT
ajfa-15215	236	1	this	this	PRON
ajfa-15215	236	2	is	be	AUX
ajfa-15215	236	3	further	far	ADV
ajfa-15215	236	4	evaluated	evaluate	VERB
ajfa-15215	236	5	in	in	ADP
ajfa-15215	236	6	the	the	DET
ajfa-15215	236	7	subsequent	subsequent	ADJ
ajfa-15215	236	8	sub	sub	NOUN
ajfa-15215	236	9	-	-	NOUN
ajfa-15215	236	10	section	section	NOUN
ajfa-15215	236	11	.	.	PUNCT
ajfa-15215	237	1	4.2	4.2	NUM
ajfa-15215	237	2	unadjusted	unadjuste	VERB
ajfa-15215	237	3	returns	return	NOUN
ajfa-15215	237	4	of	of	ADP
ajfa-15215	237	5	bivariate	bivariate	ADJ
ajfa-15215	237	6	portfolios	portfolio	NOUN
ajfa-15215	237	7	to	to	PART
ajfa-15215	237	8	evaluate	evaluate	VERB
ajfa-15215	237	9	profitability	profitability	NOUN
ajfa-15215	237	10	of	of	ADP
ajfa-15215	237	11	combined	combined	ADJ
ajfa-15215	237	12	information	information	NOUN
ajfa-15215	237	13	,	,	PUNCT
ajfa-15215	237	14	we	we	PRON
ajfa-15215	237	15	create	create	VERB
ajfa-15215	237	16	three	three	NUM
ajfa-15215	237	17	types	type	NOUN
ajfa-15215	237	18	of	of	ADP
ajfa-15215	237	19	bivariate	bivariate	ADJ
ajfa-15215	237	20	portfolios	portfolio	NOUN
ajfa-15215	237	21	,	,	PUNCT
ajfa-15215	237	22	namely	namely	ADV
ajfa-15215	237	23	;	;	PUNCT
ajfa-15215	237	24	independent	independent	ADJ
ajfa-15215	237	25	,	,	PUNCT
ajfa-15215	237	26	conditional	conditional	ADJ
ajfa-15215	237	27	i	i	PRON
ajfa-15215	237	28	(	(	PUNCT
ajfa-15215	237	29	value	value	NOUN
ajfa-15215	237	30	-	-	PUNCT
ajfa-15215	237	31	growth	growth	NOUN
ajfa-15215	237	32	)	)	PUNCT
ajfa-15215	237	33	and	and	CCONJ
ajfa-15215	237	34	conditional	conditional	PROPN
ajfa-15215	237	35	ii	ii	PROPN
ajfa-15215	237	36	(	(	PUNCT
ajfa-15215	237	37	growth	growth	NOUN
ajfa-15215	237	38	-	-	PUNCT
ajfa-15215	237	39	value	value	NOUN
ajfa-15215	237	40	)	)	PUNCT
ajfa-15215	237	41	.	.	PUNCT
ajfa-15215	238	1	all	all	DET
ajfa-15215	238	2	these	these	DET
ajfa-15215	238	3	strategies	strategy	NOUN
ajfa-15215	238	4	perform	perform	VERB
ajfa-15215	238	5	better	well	ADJ
ajfa-15215	238	6	than	than	ADP
ajfa-15215	238	7	our	our	PRON
ajfa-15215	238	8	univariate	univariate	ADJ
ajfa-15215	238	9	sorted	sorted	ADJ
ajfa-15215	238	10	portfolios	portfolio	NOUN
ajfa-15215	238	11	.	.	PUNCT
ajfa-15215	239	1	(	(	PUNCT
ajfa-15215	239	2	see	see	VERB
ajfa-15215	239	3	table	table	NOUN
ajfa-15215	239	4	2	2	NUM
ajfa-15215	239	5	)	)	PUNCT
ajfa-15215	239	6	for	for	ADP
ajfa-15215	239	7	independently	independently	ADV
ajfa-15215	239	8	sorted	sort	VERB
ajfa-15215	239	9	strategy	strategy	NOUN
ajfa-15215	239	10	,	,	PUNCT
ajfa-15215	239	11	2.43	2.43	NUM
ajfa-15215	239	12	%	%	NOUN
ajfa-15215	239	13	and	and	CCONJ
ajfa-15215	239	14	0.82	0.82	NUM
ajfa-15215	239	15	%	%	NOUN
ajfa-15215	239	16	mean	mean	VERB
ajfa-15215	239	17	monthly	monthly	ADJ
ajfa-15215	239	18	return	return	NOUN
ajfa-15215	239	19	is	be	AUX
ajfa-15215	239	20	earned	earn	VERB
ajfa-15215	239	21	by	by	ADP
ajfa-15215	239	22	low	low	ADJ
ajfa-15215	239	23	p	p	X
ajfa-15215	239	24	/	/	SYM
ajfa-15215	239	25	e	e	NOUN
ajfa-15215	239	26	-	-	ADJ
ajfa-15215	239	27	high	high	ADJ
ajfa-15215	239	28	growth	growth	NOUN
ajfa-15215	239	29	group	group	NOUN
ajfa-15215	239	30	and	and	CCONJ
ajfa-15215	239	31	high	high	ADJ
ajfa-15215	239	32	p	p	X
ajfa-15215	239	33	/	/	SYM
ajfa-15215	239	34	e	e	NOUN
ajfa-15215	239	35	-	-	ADJ
ajfa-15215	239	36	low	low	ADJ
ajfa-15215	239	37	growth	growth	NOUN
ajfa-15215	239	38	group	group	NOUN
ajfa-15215	239	39	respectively	respectively	ADV
ajfa-15215	239	40	.	.	PUNCT
ajfa-15215	240	1	in	in	ADP
ajfa-15215	240	2	conditional	conditional	ADJ
ajfa-15215	240	3	i	i	PROPN
ajfa-15215	240	4	(	(	PUNCT
ajfa-15215	240	5	value	value	NOUN
ajfa-15215	240	6	-	-	PUNCT
ajfa-15215	240	7	growth	growth	NOUN
ajfa-15215	240	8	)	)	PUNCT
ajfa-15215	240	9	strategy	strategy	NOUN
ajfa-15215	240	10	;	;	PUNCT
ajfa-15215	240	11	when	when	SCONJ
ajfa-15215	240	12	growth	growth	NOUN
ajfa-15215	240	13	based	base	VERB
ajfa-15215	240	14	portfolios	portfolio	NOUN
ajfa-15215	240	15	are	be	AUX
ajfa-15215	240	16	constructed	construct	VERB
ajfa-15215	240	17	within	within	ADP
ajfa-15215	240	18	value	value	NOUN
ajfa-15215	240	19	based	base	VERB
ajfa-15215	240	20	groups	group	NOUN
ajfa-15215	240	21	,	,	PUNCT
ajfa-15215	240	22	stocks	stock	NOUN
ajfa-15215	240	23	with	with	ADP
ajfa-15215	240	24	low	low	ADJ
ajfa-15215	240	25	p	p	X
ajfa-15215	240	26	/	/	SYM
ajfa-15215	240	27	e	e	NOUN
ajfa-15215	240	28	-	-	ADJ
ajfa-15215	240	29	high	high	ADJ
ajfa-15215	240	30	growth	growth	NOUN
ajfa-15215	240	31	and	and	CCONJ
ajfa-15215	240	32	high	high	ADJ
ajfa-15215	240	33	p	p	X
ajfa-15215	240	34	/	/	SYM
ajfa-15215	240	35	e	e	NOUN
ajfa-15215	240	36	-	-	ADJ
ajfa-15215	240	37	low	low	ADJ
ajfa-15215	240	38	growth	growth	NOUN
ajfa-15215	240	39	provide	provide	VERB
ajfa-15215	240	40	an	an	DET
ajfa-15215	240	41	average	average	ADJ
ajfa-15215	240	42	monthly	monthly	ADJ
ajfa-15215	240	43	return	return	NOUN
ajfa-15215	240	44	of	of	ADP
ajfa-15215	240	45	2.37	2.37	NUM
ajfa-15215	240	46	%	%	NOUN
ajfa-15215	240	47	and	and	CCONJ
ajfa-15215	240	48	0.78	0.78	NUM
ajfa-15215	240	49	%	%	NOUN
ajfa-15215	240	50	respectively	respectively	ADV
ajfa-15215	240	51	.	.	PUNCT
ajfa-15215	241	1	with	with	ADP
ajfa-15215	241	2	reverse	reverse	ADJ
ajfa-15215	241	3	conditional	conditional	ADJ
ajfa-15215	241	4	sorting	sorting	NOUN
ajfa-15215	241	5	process	process	NOUN
ajfa-15215	241	6	;	;	PUNCT
ajfa-15215	241	7	i.e.	i.e.	X
ajfa-15215	241	8	constructing	construct	VERB
ajfa-15215	241	9	value	value	NOUN
ajfa-15215	241	10	based	base	VERB
ajfa-15215	241	11	portfolios	portfolio	NOUN
ajfa-15215	241	12	within	within	ADP
ajfa-15215	241	13	growth	growth	NOUN
ajfa-15215	241	14	based	base	VERB
ajfa-15215	241	15	groups	group	NOUN
ajfa-15215	241	16	,	,	PUNCT
ajfa-15215	241	17	we	we	PRON
ajfa-15215	241	18	observe	observe	VERB
ajfa-15215	241	19	that	that	SCONJ
ajfa-15215	241	20	2.39	2.39	NUM
ajfa-15215	241	21	%	%	NOUN
ajfa-15215	241	22	p.m.	p.m.	NOUN
ajfa-15215	241	23	and	and	CCONJ
ajfa-15215	241	24	0.83	0.83	NUM
ajfa-15215	241	25	%	%	NOUN
ajfa-15215	241	26	p.m.	p.m.	NOUN
ajfa-15215	241	27	is	be	AUX
ajfa-15215	241	28	earned	earn	VERB
ajfa-15215	241	29	by	by	ADP
ajfa-15215	241	30	low	low	ADJ
ajfa-15215	241	31	p	p	X
ajfa-15215	241	32	/	/	SYM
ajfa-15215	241	33	e	e	NOUN
ajfa-15215	241	34	-	-	ADJ
ajfa-15215	241	35	high	high	ADJ
ajfa-15215	241	36	growth	growth	NOUN
ajfa-15215	241	37	portfolio	portfolio	NOUN
ajfa-15215	241	38	and	and	CCONJ
ajfa-15215	241	39	high	high	ADJ
ajfa-15215	241	40	p	p	X
ajfa-15215	241	41	/	/	SYM
ajfa-15215	241	42	e	e	NOUN
ajfa-15215	241	43	-	-	ADJ
ajfa-15215	241	44	low	low	ADJ
ajfa-15215	241	45	growth	growth	NOUN
ajfa-15215	241	46	portfolio	portfolio	NOUN
ajfa-15215	241	47	respectively	respectively	ADV
ajfa-15215	241	48	.	.	PUNCT
ajfa-15215	242	1	maximum	maximum	ADJ
ajfa-15215	242	2	mean	mean	VERB
ajfa-15215	242	3	monthly	monthly	ADJ
ajfa-15215	242	4	return	return	NOUN
ajfa-15215	242	5	differential	differential	NOUN
ajfa-15215	242	6	of	of	ADP
ajfa-15215	242	7	1.61	1.61	NUM
ajfa-15215	242	8	%	%	NOUN
ajfa-15215	242	9	is	be	AUX
ajfa-15215	242	10	provided	provide	VERB
ajfa-15215	242	11	by	by	ADP
ajfa-15215	242	12	zero	zero	NUM
ajfa-15215	242	13	-	-	PUNCT
ajfa-15215	242	14	cost	cost	NOUN
ajfa-15215	242	15	independently	independently	ADV
ajfa-15215	242	16	sorted	sort	VERB
ajfa-15215	242	17	strategy	strategy	NOUN
ajfa-15215	242	18	,	,	PUNCT
ajfa-15215	242	19	which	which	PRON
ajfa-15215	242	20	is	be	AUX
ajfa-15215	242	21	followed	follow	VERB
ajfa-15215	242	22	by	by	ADP
ajfa-15215	242	23	conditional	conditional	ADJ
ajfa-15215	242	24	i	i	PROPN
ajfa-15215	242	25	and	and	CCONJ
ajfa-15215	242	26	conditional	conditional	PROPN
ajfa-15215	242	27	ii	ii	PROPN
ajfa-15215	242	28	strategy	strategy	NOUN
ajfa-15215	242	29	,	,	PUNCT
ajfa-15215	242	30	which	which	PRON
ajfa-15215	242	31	give	give	VERB
ajfa-15215	242	32	a	a	DET
ajfa-15215	242	33	return	return	NOUN
ajfa-15215	242	34	differential	differential	NOUN
ajfa-15215	242	35	of	of	ADP
ajfa-15215	242	36	1.59	1.59	NUM
ajfa-15215	242	37	%	%	NOUN
ajfa-15215	242	38	and	and	CCONJ
ajfa-15215	242	39	1.56	1.56	NUM
ajfa-15215	242	40	%	%	NOUN
ajfa-15215	242	41	respectively	respectively	ADV
ajfa-15215	242	42	.	.	PUNCT
ajfa-15215	243	1	thus	thus	ADV
ajfa-15215	243	2	,	,	PUNCT
ajfa-15215	243	3	instead	instead	ADV
ajfa-15215	243	4	of	of	ADP
ajfa-15215	243	5	focusing	focus	VERB
ajfa-15215	243	6	on	on	ADP
ajfa-15215	243	7	value	value	NOUN
ajfa-15215	243	8	vs	vs	ADP
ajfa-15215	243	9	growth	growth	NOUN
ajfa-15215	243	10	investing	investing	NOUN
ajfa-15215	243	11	style	style	NOUN
ajfa-15215	243	12	,	,	PUNCT
ajfa-15215	243	13	investors	investor	NOUN
ajfa-15215	243	14	in	in	ADP
ajfa-15215	243	15	the	the	DET
ajfa-15215	243	16	indian	indian	ADJ
ajfa-15215	243	17	markets	market	NOUN
ajfa-15215	243	18	should	should	AUX
ajfa-15215	243	19	focus	focus	VERB
ajfa-15215	243	20	on	on	ADP
ajfa-15215	243	21	value	value	NOUN
ajfa-15215	243	22	and	and	CCONJ
ajfa-15215	243	23	growth	growth	NOUN
ajfa-15215	243	24	investing	investing	NOUN
ajfa-15215	243	25	style	style	NOUN
ajfa-15215	243	26	.	.	PUNCT
ajfa-15215	244	1	enhanced	enhance	VERB
ajfa-15215	244	2	performance	performance	NOUN
ajfa-15215	244	3	of	of	ADP
ajfa-15215	244	4	bivariate	bivariate	ADJ
ajfa-15215	244	5	strategies	strategy	NOUN
ajfa-15215	244	6	is	be	AUX
ajfa-15215	244	7	confirmed	confirm	VERB
ajfa-15215	244	8	with	with	ADP
ajfa-15215	244	9	higher	high	ADJ
ajfa-15215	244	10	sharpe	sharpe	PROPN
ajfa-15215	244	11	’s	’s	PART
ajfa-15215	244	12	ratio	ratio	NOUN
ajfa-15215	244	13	vis	vis	X
ajfa-15215	244	14	-	-	PUNCT
ajfa-15215	244	15	à	à	X
ajfa-15215	244	16	-	-	PUNCT
ajfa-15215	244	17	vis	vis	X
ajfa-15215	244	18	univariate	univariate	ADJ
ajfa-15215	244	19	strategies	strategy	NOUN
ajfa-15215	244	20	.	.	PUNCT
ajfa-15215	245	1	we	we	PRON
ajfa-15215	245	2	report	report	VERB
ajfa-15215	245	3	sharpe	sharpe	NOUN
ajfa-15215	245	4	ratios	ratio	NOUN
ajfa-15215	245	5	for	for	ADP
ajfa-15215	245	6	portfolios	portfolio	NOUN
ajfa-15215	245	7	on	on	ADP
ajfa-15215	245	8	the	the	DET
ajfa-15215	245	9	winner	winner	NOUN
ajfa-15215	245	10	side	side	NOUN
ajfa-15215	245	11	.	.	PUNCT
ajfa-15215	246	1	portfolio	portfolio	PROPN
ajfa-15215	246	2	pe1	pe1	PROPN
ajfa-15215	246	3	and	and	CCONJ
ajfa-15215	246	4	e10sa	e10sa	PROPN
ajfa-15215	246	5	have	have	VERB
ajfa-15215	246	6	sharpe	sharpe	NOUN
ajfa-15215	246	7	ratio	ratio	NOUN
ajfa-15215	246	8	of	of	ADP
ajfa-15215	246	9	0.196	0.196	NUM
ajfa-15215	246	10	and	and	CCONJ
ajfa-15215	246	11	0.150	0.150	NUM
ajfa-15215	246	12	respectively	respectively	ADV
ajfa-15215	246	13	.	.	PUNCT
ajfa-15215	247	1	for	for	ADP
ajfa-15215	247	2	bivariate	bivariate	ADJ
ajfa-15215	247	3	low	low	ADJ
ajfa-15215	247	4	value	value	NOUN
ajfa-15215	247	5	-	-	PUNCT
ajfa-15215	247	6	high	high	ADJ
ajfa-15215	247	7	growth	growth	NOUN
ajfa-15215	247	8	portfolios	portfolio	NOUN
ajfa-15215	247	9	,	,	PUNCT
ajfa-15215	247	10	sharpe	sharpe	PROPN
ajfa-15215	247	11	ratio	ratio	NOUN
ajfa-15215	247	12	rises	rise	VERB
ajfa-15215	247	13	to	to	ADP
ajfa-15215	247	14	0.251	0.251	NUM
ajfa-15215	247	15	,	,	PUNCT
ajfa-15215	247	16	0.242	0.242	NUM
ajfa-15215	247	17	and	and	CCONJ
ajfa-15215	247	18	0.244	0.244	NUM
ajfa-15215	247	19	for	for	ADP
ajfa-15215	247	20	independent	independent	ADJ
ajfa-15215	247	21	,	,	PUNCT
ajfa-15215	247	22	conditional	conditional	ADJ
ajfa-15215	247	23	i	i	PROPN
ajfa-15215	247	24	and	and	CCONJ
ajfa-15215	247	25	conditional	conditional	PROPN
ajfa-15215	247	26	ii	ii	PROPN
ajfa-15215	247	27	strategy	strategy	NOUN
ajfa-15215	247	28	respectively	respectively	ADV
ajfa-15215	247	29	.	.	PUNCT
ajfa-15215	248	1	this	this	DET
ajfa-15215	248	2	increase	increase	NOUN
ajfa-15215	248	3	is	be	AUX
ajfa-15215	248	4	observed	observe	VERB
ajfa-15215	248	5	because	because	SCONJ
ajfa-15215	248	6	of	of	ADP
ajfa-15215	248	7	lower	low	ADJ
ajfa-15215	248	8	volatility	volatility	NOUN
ajfa-15215	248	9	of	of	ADP
ajfa-15215	248	10	bivariate	bivariate	ADJ
ajfa-15215	248	11	strategies	strategy	NOUN
ajfa-15215	248	12	due	due	ADP
ajfa-15215	248	13	to	to	ADP
ajfa-15215	248	14	the	the	DET
ajfa-15215	248	15	benefit	benefit	NOUN
ajfa-15215	248	16	of	of	ADP
ajfa-15215	248	17	time	time	NOUN
ajfa-15215	248	18	-	-	PUNCT
ajfa-15215	248	19	diversification	diversification	NOUN
ajfa-15215	248	20	.	.	PUNCT
ajfa-15215	249	1	4.3	4.3	NUM
ajfa-15215	249	2	risk	risk	NOUN
ajfa-15215	249	3	adjusted	adjust	VERB
ajfa-15215	249	4	returns	return	NOUN
ajfa-15215	249	5	based	base	VERB
ajfa-15215	249	6	on	on	ADP
ajfa-15215	249	7	factor	factor	NOUN
ajfa-15215	249	8	model(s	model(s	NOUN
ajfa-15215	249	9	)	)	PUNCT
ajfa-15215	249	10	after	after	ADP
ajfa-15215	249	11	the	the	DET
ajfa-15215	249	12	estimation	estimation	NOUN
ajfa-15215	249	13	of	of	ADP
ajfa-15215	249	14	unadjusted	unadjusted	ADJ
ajfa-15215	249	15	returns	return	NOUN
ajfa-15215	249	16	,	,	PUNCT
ajfa-15215	249	17	risk	risk	NOUN
ajfa-15215	249	18	adjusted	adjust	VERB
ajfa-15215	249	19	returns	return	NOUN
ajfa-15215	249	20	are	be	AUX
ajfa-15215	249	21	observed	observe	VERB
ajfa-15215	249	22	using	use	VERB
ajfa-15215	249	23	capm	capm	PROPN
ajfa-15215	249	24	framework	framework	NOUN
ajfa-15215	249	25	.	.	PUNCT
ajfa-15215	250	1	we	we	PRON
ajfa-15215	250	2	regress	regress	VERB
ajfa-15215	250	3	excess	excess	ADJ
ajfa-15215	250	4	returns	return	NOUN
ajfa-15215	250	5	on	on	ADP
ajfa-15215	250	6	all	all	DET
ajfa-15215	250	7	univariate	univariate	ADJ
ajfa-15215	250	8	and	and	CCONJ
ajfa-15215	250	9	bivariate	bivariate	ADJ
ajfa-15215	250	10	strategies	strategy	NOUN
ajfa-15215	250	11	on	on	ADP
ajfa-15215	250	12	market	market	NOUN
ajfa-15215	250	13	return	return	NOUN
ajfa-15215	250	14	.	.	PUNCT
ajfa-15215	251	1	asian	asian	ADJ
ajfa-15215	251	2	journal	journal	PROPN
ajfa-15215	251	3	of	of	ADP
ajfa-15215	251	4	finance	finance	PROPN
ajfa-15215	251	5	&	&	CCONJ
ajfa-15215	251	6	accounting	accounting	PROPN
ajfa-15215	251	7	issn	issn	PROPN
ajfa-15215	251	8	1946	1946	NUM
ajfa-15215	251	9	-	-	PUNCT
ajfa-15215	251	10	052x	052x	PROPN
ajfa-15215	251	11	2019	2019	NUM
ajfa-15215	251	12	,	,	PUNCT
ajfa-15215	251	13	vol	vol	NOUN
ajfa-15215	251	14	.	.	PROPN
ajfa-15215	251	15	11	11	NUM
ajfa-15215	251	16	,	,	PUNCT
ajfa-15215	251	17	no	no	INTJ
ajfa-15215	251	18	.	.	NOUN
ajfa-15215	251	19	2	2	NUM
ajfa-15215	251	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	251	21	52	52	NUM
ajfa-15215	251	22	results	result	NOUN
ajfa-15215	251	23	are	be	AUX
ajfa-15215	251	24	reported	report	VERB
ajfa-15215	251	25	in	in	ADP
ajfa-15215	251	26	table	table	NOUN
ajfa-15215	251	27	3	3	NUM
ajfa-15215	251	28	.	.	PUNCT
ajfa-15215	251	29	for	for	ADP
ajfa-15215	251	30	univariate	univariate	ADJ
ajfa-15215	251	31	strategies	strategy	NOUN
ajfa-15215	251	32	,	,	PUNCT
ajfa-15215	251	33	market	market	NOUN
ajfa-15215	251	34	risk	risk	NOUN
ajfa-15215	251	35	factor	factor	NOUN
ajfa-15215	251	36	absorbs	absorb	VERB
ajfa-15215	251	37	returns	return	NOUN
ajfa-15215	251	38	of	of	ADP
ajfa-15215	251	39	both	both	DET
ajfa-15215	251	40	earnings	earning	NOUN
ajfa-15215	251	41	growth	growth	NOUN
ajfa-15215	251	42	based	base	VERB
ajfa-15215	251	43	portfolios	portfolio	NOUN
ajfa-15215	251	44	and	and	CCONJ
ajfa-15215	251	45	high	high	ADJ
ajfa-15215	251	46	p	p	X
ajfa-15215	251	47	/	/	SYM
ajfa-15215	251	48	e	e	NOUN
ajfa-15215	251	49	portfolio	portfolio	NOUN
ajfa-15215	251	50	amongst	amongst	ADP
ajfa-15215	251	51	value	value	NOUN
ajfa-15215	251	52	strategies	strategy	NOUN
ajfa-15215	251	53	.	.	PUNCT
ajfa-15215	252	1	for	for	ADP
ajfa-15215	252	2	all	all	DET
ajfa-15215	252	3	bivariate	bivariate	ADJ
ajfa-15215	252	4	strategies	strategy	NOUN
ajfa-15215	252	5	,	,	PUNCT
ajfa-15215	252	6	capm	capm	PROPN
ajfa-15215	252	7	explains	explain	VERB
ajfa-15215	252	8	returns	return	NOUN
ajfa-15215	252	9	of	of	ADP
ajfa-15215	252	10	portfolios	portfolio	NOUN
ajfa-15215	252	11	with	with	ADP
ajfa-15215	252	12	lower	low	ADJ
ajfa-15215	252	13	earnings	earning	NOUN
ajfa-15215	252	14	growth	growth	NOUN
ajfa-15215	252	15	and	and	CCONJ
ajfa-15215	252	16	higher	high	ADJ
ajfa-15215	252	17	p	p	NOUN
ajfa-15215	252	18	/	/	SYM
ajfa-15215	252	19	e	e	NOUN
ajfa-15215	252	20	ratio	ratio	NOUN
ajfa-15215	252	21	.	.	PUNCT
ajfa-15215	253	1	however	however	ADV
ajfa-15215	253	2	,	,	PUNCT
ajfa-15215	253	3	portfolios	portfolio	NOUN
ajfa-15215	253	4	return	return	VERB
ajfa-15215	253	5	of	of	ADP
ajfa-15215	253	6	high	high	ADJ
ajfa-15215	253	7	growth	growth	NOUN
ajfa-15215	253	8	-	-	PUNCT
ajfa-15215	253	9	low	low	NOUN
ajfa-15215	253	10	value	value	NOUN
ajfa-15215	253	11	stocks	stock	NOUN
ajfa-15215	253	12	in	in	ADP
ajfa-15215	253	13	all	all	DET
ajfa-15215	253	14	groups	group	NOUN
ajfa-15215	253	15	remain	remain	VERB
ajfa-15215	253	16	unexplained	unexplained	ADJ
ajfa-15215	253	17	at	at	ADP
ajfa-15215	253	18	this	this	DET
ajfa-15215	253	19	stage	stage	NOUN
ajfa-15215	253	20	.	.	PUNCT
ajfa-15215	254	1	using	use	VERB
ajfa-15215	254	2	fama	fama	PROPN
ajfa-15215	254	3	-	-	PUNCT
ajfa-15215	254	4	french	french	ADJ
ajfa-15215	254	5	3	3	NUM
ajfa-15215	254	6	factor	factor	NOUN
ajfa-15215	254	7	model	model	NOUN
ajfa-15215	254	8	(	(	PUNCT
ajfa-15215	254	9	1993	1993	NUM
ajfa-15215	254	10	)	)	PUNCT
ajfa-15215	254	11	,	,	PUNCT
ajfa-15215	254	12	excess	excess	ADJ
ajfa-15215	254	13	returns	return	NOUN
ajfa-15215	254	14	of	of	ADP
ajfa-15215	254	15	unexplained	unexplained	ADJ
ajfa-15215	254	16	portfolios	portfolio	NOUN
ajfa-15215	254	17	are	be	AUX
ajfa-15215	254	18	regressed	regress	VERB
ajfa-15215	254	19	on	on	ADP
ajfa-15215	254	20	market	market	NOUN
ajfa-15215	254	21	,	,	PUNCT
ajfa-15215	254	22	size	size	NOUN
ajfa-15215	254	23	and	and	CCONJ
ajfa-15215	254	24	value	value	NOUN
ajfa-15215	254	25	factors	factor	NOUN
ajfa-15215	254	26	.	.	PUNCT
ajfa-15215	255	1	these	these	DET
ajfa-15215	255	2	results	result	NOUN
ajfa-15215	255	3	are	be	AUX
ajfa-15215	255	4	reported	report	VERB
ajfa-15215	255	5	in	in	ADP
ajfa-15215	255	6	table	table	NOUN
ajfa-15215	255	7	4	4	NUM
ajfa-15215	255	8	.	.	PUNCT
ajfa-15215	256	1	this	this	DET
ajfa-15215	256	2	model	model	NOUN
ajfa-15215	256	3	captures	capture	VERB
ajfa-15215	256	4	return	return	NOUN
ajfa-15215	256	5	of	of	ADP
ajfa-15215	256	6	univariate	univariate	ADJ
ajfa-15215	256	7	low	low	ADJ
ajfa-15215	256	8	value	value	NOUN
ajfa-15215	256	9	portfolio	portfolio	NOUN
ajfa-15215	256	10	that	that	PRON
ajfa-15215	256	11	was	be	AUX
ajfa-15215	256	12	unexplained	unexplained	ADJ
ajfa-15215	256	13	at	at	ADP
ajfa-15215	256	14	the	the	DET
ajfa-15215	256	15	previous	previous	ADJ
ajfa-15215	256	16	stage	stage	NOUN
ajfa-15215	256	17	.	.	PUNCT
ajfa-15215	257	1	return	return	NOUN
ajfa-15215	257	2	of	of	ADP
ajfa-15215	257	3	all	all	DET
ajfa-15215	257	4	bivariate	bivariate	ADJ
ajfa-15215	257	5	sorted	sort	VERB
ajfa-15215	257	6	high	high	ADJ
ajfa-15215	257	7	growth	growth	NOUN
ajfa-15215	257	8	-	-	PUNCT
ajfa-15215	257	9	low	low	NOUN
ajfa-15215	257	10	value	value	NOUN
ajfa-15215	257	11	portfolios	portfolio	NOUN
ajfa-15215	257	12	remain	remain	VERB
ajfa-15215	257	13	unexplained	unexplained	ADJ
ajfa-15215	257	14	.	.	PUNCT
ajfa-15215	258	1	these	these	PRON
ajfa-15215	258	2	are	be	AUX
ajfa-15215	258	3	further	far	ADV
ajfa-15215	258	4	regressed	regress	VERB
ajfa-15215	258	5	on	on	ADP
ajfa-15215	258	6	two	two	NUM
ajfa-15215	258	7	additional	additional	ADJ
ajfa-15215	258	8	factors	factor	NOUN
ajfa-15215	258	9	suggested	suggest	VERB
ajfa-15215	258	10	by	by	ADP
ajfa-15215	258	11	fama	fama	PROPN
ajfa-15215	258	12	-	-	PUNCT
ajfa-15215	258	13	french	french	NOUN
ajfa-15215	258	14	(	(	PUNCT
ajfa-15215	258	15	2015	2015	NUM
ajfa-15215	258	16	)	)	PUNCT
ajfa-15215	258	17	;	;	PUNCT
ajfa-15215	258	18	i.e.	i.e.	X
ajfa-15215	258	19	profitability	profitability	NOUN
ajfa-15215	258	20	factor	factor	NOUN
ajfa-15215	258	21	and	and	CCONJ
ajfa-15215	258	22	investment	investment	NOUN
ajfa-15215	258	23	rate	rate	NOUN
ajfa-15215	258	24	factor	factor	NOUN
ajfa-15215	258	25	.	.	PUNCT
ajfa-15215	259	1	(	(	PUNCT
ajfa-15215	259	2	see	see	VERB
ajfa-15215	259	3	table	table	NOUN
ajfa-15215	259	4	5	5	NUM
ajfa-15215	259	5	)	)	PUNCT
ajfa-15215	259	6	.	.	PUNCT
ajfa-15215	260	1	we	we	PRON
ajfa-15215	260	2	find	find	VERB
ajfa-15215	260	3	that	that	SCONJ
ajfa-15215	260	4	fama	fama	NOUN
ajfa-15215	260	5	-	-	PUNCT
ajfa-15215	260	6	french	french	ADJ
ajfa-15215	260	7	5	5	NUM
ajfa-15215	260	8	factor	factor	NOUN
ajfa-15215	260	9	model	model	NOUN
ajfa-15215	260	10	is	be	AUX
ajfa-15215	260	11	also	also	ADV
ajfa-15215	260	12	unable	unable	ADJ
ajfa-15215	260	13	to	to	PART
ajfa-15215	260	14	absorb	absorb	VERB
ajfa-15215	260	15	excess	excess	ADJ
ajfa-15215	260	16	returns	return	NOUN
ajfa-15215	260	17	of	of	ADP
ajfa-15215	260	18	these	these	DET
ajfa-15215	260	19	portfolios	portfolio	NOUN
ajfa-15215	260	20	.	.	PUNCT
ajfa-15215	261	1	our	our	PRON
ajfa-15215	261	2	results	result	NOUN
ajfa-15215	261	3	suggest	suggest	VERB
ajfa-15215	261	4	significant	significant	ADJ
ajfa-15215	261	5	profits	profit	NOUN
ajfa-15215	261	6	can	can	AUX
ajfa-15215	261	7	be	be	AUX
ajfa-15215	261	8	earned	earn	VERB
ajfa-15215	261	9	by	by	ADP
ajfa-15215	261	10	going	go	VERB
ajfa-15215	261	11	long	long	ADV
ajfa-15215	261	12	in	in	ADP
ajfa-15215	261	13	portfolios	portfolio	NOUN
ajfa-15215	261	14	with	with	ADP
ajfa-15215	261	15	high	high	ADJ
ajfa-15215	261	16	earnings	earning	NOUN
ajfa-15215	261	17	growth	growth	NOUN
ajfa-15215	261	18	and	and	CCONJ
ajfa-15215	261	19	low	low	ADJ
ajfa-15215	261	20	value	value	NOUN
ajfa-15215	261	21	.	.	PUNCT
ajfa-15215	262	1	these	these	DET
ajfa-15215	262	2	portfolios	portfolio	NOUN
ajfa-15215	262	3	may	may	AUX
ajfa-15215	262	4	be	be	AUX
ajfa-15215	262	5	sorted	sort	VERB
ajfa-15215	262	6	independently	independently	ADV
ajfa-15215	262	7	or	or	CCONJ
ajfa-15215	262	8	conditionally	conditionally	ADV
ajfa-15215	262	9	.	.	PUNCT
ajfa-15215	263	1	since	since	SCONJ
ajfa-15215	263	2	standard	standard	ADJ
ajfa-15215	263	3	risk	risk	NOUN
ajfa-15215	263	4	models	model	NOUN
ajfa-15215	263	5	are	be	AUX
ajfa-15215	263	6	unable	unable	ADJ
ajfa-15215	263	7	to	to	PART
ajfa-15215	263	8	explain	explain	VERB
ajfa-15215	263	9	results	result	NOUN
ajfa-15215	263	10	of	of	ADP
ajfa-15215	263	11	these	these	DET
ajfa-15215	263	12	portfolios	portfolio	NOUN
ajfa-15215	263	13	,	,	PUNCT
ajfa-15215	263	14	there	there	PRON
ajfa-15215	263	15	may	may	AUX
ajfa-15215	263	16	be	be	AUX
ajfa-15215	263	17	behavioural	behavioural	ADJ
ajfa-15215	263	18	reasons	reason	NOUN
ajfa-15215	263	19	to	to	PART
ajfa-15215	263	20	explain	explain	VERB
ajfa-15215	263	21	their	their	PRON
ajfa-15215	263	22	superior	superior	ADJ
ajfa-15215	263	23	performance	performance	NOUN
ajfa-15215	263	24	,	,	PUNCT
ajfa-15215	263	25	which	which	PRON
ajfa-15215	263	26	may	may	AUX
ajfa-15215	263	27	be	be	AUX
ajfa-15215	263	28	an	an	DET
ajfa-15215	263	29	issue	issue	NOUN
ajfa-15215	263	30	for	for	ADP
ajfa-15215	263	31	examination	examination	NOUN
ajfa-15215	263	32	in	in	ADP
ajfa-15215	263	33	subsequent	subsequent	ADJ
ajfa-15215	263	34	research	research	NOUN
ajfa-15215	263	35	.	.	PUNCT
ajfa-15215	264	1	5	5	X
ajfa-15215	264	2	.	.	X
ajfa-15215	264	3	summary	summary	NOUN
ajfa-15215	264	4	and	and	CCONJ
ajfa-15215	264	5	concluding	conclude	VERB
ajfa-15215	264	6	observations	observation	NOUN
ajfa-15215	264	7	this	this	DET
ajfa-15215	264	8	study	study	NOUN
ajfa-15215	264	9	attempts	attempt	VERB
ajfa-15215	264	10	to	to	PART
ajfa-15215	264	11	evaluate	evaluate	VERB
ajfa-15215	264	12	profitability	profitability	NOUN
ajfa-15215	264	13	of	of	ADP
ajfa-15215	264	14	value	value	NOUN
ajfa-15215	264	15	and	and	CCONJ
ajfa-15215	264	16	growth	growth	NOUN
ajfa-15215	264	17	investing	investing	NOUN
ajfa-15215	264	18	styles	style	NOUN
ajfa-15215	264	19	.	.	PUNCT
ajfa-15215	265	1	past	past	ADP
ajfa-15215	265	2	literature	literature	PROPN
ajfa-15215	265	3	defines	define	VERB
ajfa-15215	265	4	low	low	ADJ
ajfa-15215	265	5	p	p	X
ajfa-15215	265	6	/	/	SYM
ajfa-15215	265	7	e(p	e(p	NOUN
ajfa-15215	265	8	/	/	SYM
ajfa-15215	265	9	b	b	NOUN
ajfa-15215	265	10	)	)	PUNCT
ajfa-15215	265	11	stocks	stock	NOUN
ajfa-15215	265	12	as	as	ADP
ajfa-15215	265	13	value	value	NOUN
ajfa-15215	265	14	stocks	stock	NOUN
ajfa-15215	265	15	.	.	PUNCT
ajfa-15215	266	1	growth	growth	NOUN
ajfa-15215	266	2	stocks	stock	NOUN
ajfa-15215	266	3	are	be	AUX
ajfa-15215	266	4	defined	define	VERB
ajfa-15215	266	5	as	as	ADP
ajfa-15215	266	6	securities	security	NOUN
ajfa-15215	266	7	with	with	ADP
ajfa-15215	266	8	higher	high	ADJ
ajfa-15215	266	9	past	past	ADJ
ajfa-15215	266	10	growth	growth	NOUN
ajfa-15215	266	11	rate	rate	NOUN
ajfa-15215	266	12	in	in	ADP
ajfa-15215	266	13	net	net	ADJ
ajfa-15215	266	14	sales	sale	NOUN
ajfa-15215	266	15	and	and	CCONJ
ajfa-15215	266	16	earnings	earning	NOUN
ajfa-15215	266	17	.	.	PUNCT
ajfa-15215	267	1	value	value	NOUN
ajfa-15215	267	2	stocks	stock	NOUN
ajfa-15215	267	3	are	be	AUX
ajfa-15215	267	4	found	find	VERB
ajfa-15215	267	5	to	to	PART
ajfa-15215	267	6	have	have	VERB
ajfa-15215	267	7	lower	low	ADJ
ajfa-15215	267	8	growth	growth	NOUN
ajfa-15215	267	9	rates	rate	NOUN
ajfa-15215	267	10	,	,	PUNCT
ajfa-15215	267	11	and	and	CCONJ
ajfa-15215	267	12	till	till	SCONJ
ajfa-15215	267	13	now	now	ADV
ajfa-15215	267	14	value	value	NOUN
ajfa-15215	267	15	and	and	CCONJ
ajfa-15215	267	16	growth	growth	NOUN
ajfa-15215	267	17	strategies	strategy	NOUN
ajfa-15215	267	18	have	have	AUX
ajfa-15215	267	19	been	be	AUX
ajfa-15215	267	20	identified	identify	VERB
ajfa-15215	267	21	on	on	ADP
ajfa-15215	267	22	the	the	DET
ajfa-15215	267	23	same	same	ADJ
ajfa-15215	267	24	continuum	continuum	NOUN
ajfa-15215	267	25	.	.	PUNCT
ajfa-15215	268	1	we	we	PRON
ajfa-15215	268	2	attempt	attempt	VERB
ajfa-15215	268	3	to	to	PART
ajfa-15215	268	4	verify	verify	VERB
ajfa-15215	268	5	this	this	PRON
ajfa-15215	268	6	and	and	CCONJ
ajfa-15215	268	7	evaluate	evaluate	VERB
ajfa-15215	268	8	if	if	SCONJ
ajfa-15215	268	9	we	we	PRON
ajfa-15215	268	10	are	be	AUX
ajfa-15215	268	11	mixing	mix	VERB
ajfa-15215	268	12	up	up	ADP
ajfa-15215	268	13	two	two	NUM
ajfa-15215	268	14	different	different	ADJ
ajfa-15215	268	15	dimensions	dimension	NOUN
ajfa-15215	268	16	.	.	PUNCT
ajfa-15215	269	1	for	for	ADP
ajfa-15215	269	2	this	this	PRON
ajfa-15215	269	3	we	we	PRON
ajfa-15215	269	4	use	use	VERB
ajfa-15215	269	5	data	datum	NOUN
ajfa-15215	269	6	of	of	ADP
ajfa-15215	269	7	nse	nse	NOUN
ajfa-15215	269	8	500	500	NUM
ajfa-15215	269	9	companies	company	NOUN
ajfa-15215	269	10	from	from	ADP
ajfa-15215	269	11	december	december	PROPN
ajfa-15215	269	12	2001	2001	NUM
ajfa-15215	269	13	to	to	ADP
ajfa-15215	269	14	2017	2017	NUM
ajfa-15215	269	15	.	.	PUNCT
ajfa-15215	270	1	since	since	SCONJ
ajfa-15215	270	2	,	,	PUNCT
ajfa-15215	270	3	this	this	DET
ajfa-15215	270	4	time	time	NOUN
ajfa-15215	270	5	period	period	NOUN
ajfa-15215	270	6	was	be	AUX
ajfa-15215	270	7	partly	partly	ADV
ajfa-15215	270	8	affected	affect	VERB
ajfa-15215	270	9	by	by	ADP
ajfa-15215	270	10	global	global	ADJ
ajfa-15215	270	11	financial	financial	ADJ
ajfa-15215	270	12	crisis	crisis	NOUN
ajfa-15215	270	13	,	,	PUNCT
ajfa-15215	270	14	we	we	PRON
ajfa-15215	270	15	make	make	VERB
ajfa-15215	270	16	appropriate	appropriate	ADJ
ajfa-15215	270	17	adjustments	adjustment	NOUN
ajfa-15215	270	18	using	use	VERB
ajfa-15215	270	19	dummy	dummy	ADJ
ajfa-15215	270	20	variables	variable	NOUN
ajfa-15215	270	21	to	to	PART
ajfa-15215	270	22	account	account	VERB
ajfa-15215	270	23	for	for	ADP
ajfa-15215	270	24	the	the	DET
ajfa-15215	270	25	structural	structural	ADJ
ajfa-15215	270	26	break	break	NOUN
ajfa-15215	270	27	between	between	ADP
ajfa-15215	270	28	crisis	crisis	NOUN
ajfa-15215	270	29	and	and	CCONJ
ajfa-15215	270	30	tranquil	tranquil	NOUN
ajfa-15215	270	31	periods	period	NOUN
ajfa-15215	270	32	.	.	PUNCT
ajfa-15215	271	1	to	to	PART
ajfa-15215	271	2	evaluate	evaluate	VERB
ajfa-15215	271	3	profitability	profitability	NOUN
ajfa-15215	271	4	of	of	ADP
ajfa-15215	271	5	value	value	NOUN
ajfa-15215	271	6	based	base	VERB
ajfa-15215	271	7	strategy	strategy	NOUN
ajfa-15215	271	8	,	,	PUNCT
ajfa-15215	271	9	we	we	PRON
ajfa-15215	271	10	sort	sort	VERB
ajfa-15215	271	11	stocks	stock	NOUN
ajfa-15215	271	12	on	on	ADP
ajfa-15215	271	13	the	the	DET
ajfa-15215	271	14	basis	basis	NOUN
ajfa-15215	271	15	of	of	ADP
ajfa-15215	271	16	p	p	X
ajfa-15215	271	17	/	/	SYM
ajfa-15215	271	18	e	e	NOUN
ajfa-15215	271	19	and	and	CCONJ
ajfa-15215	271	20	p	p	NOUN
ajfa-15215	271	21	/	/	SYM
ajfa-15215	271	22	b	b	NOUN
ajfa-15215	271	23	ratios	ratio	NOUN
ajfa-15215	271	24	.	.	PUNCT
ajfa-15215	272	1	portfolios	portfolio	NOUN
ajfa-15215	272	2	with	with	ADP
ajfa-15215	272	3	low	low	ADJ
ajfa-15215	272	4	p	p	X
ajfa-15215	272	5	/	/	SYM
ajfa-15215	272	6	e(p	e(p	NOUN
ajfa-15215	272	7	/	/	SYM
ajfa-15215	272	8	b	b	NOUN
ajfa-15215	272	9	)	)	PUNCT
ajfa-15215	272	10	ratios	ratio	NOUN
ajfa-15215	272	11	outperform	outperform	VERB
ajfa-15215	272	12	stocks	stock	NOUN
ajfa-15215	272	13	with	with	ADP
ajfa-15215	272	14	higher	high	ADJ
ajfa-15215	272	15	value	value	NOUN
ajfa-15215	272	16	ratios	ratio	NOUN
ajfa-15215	272	17	.	.	PUNCT
ajfa-15215	273	1	this	this	PRON
ajfa-15215	273	2	can	can	AUX
ajfa-15215	273	3	be	be	AUX
ajfa-15215	273	4	explained	explain	VERB
ajfa-15215	273	5	with	with	ADP
ajfa-15215	273	6	distress	distress	NOUN
ajfa-15215	273	7	exhibited	exhibit	VERB
ajfa-15215	273	8	by	by	ADP
ajfa-15215	273	9	low	low	ADJ
ajfa-15215	273	10	value	value	NOUN
ajfa-15215	273	11	stocks	stock	NOUN
ajfa-15215	273	12	at	at	ADP
ajfa-15215	273	13	the	the	DET
ajfa-15215	273	14	time	time	NOUN
ajfa-15215	273	15	of	of	ADP
ajfa-15215	273	16	portfolio	portfolio	NOUN
ajfa-15215	273	17	formation	formation	NOUN
ajfa-15215	273	18	.	.	PUNCT
ajfa-15215	274	1	these	these	DET
ajfa-15215	274	2	stocks	stock	NOUN
ajfa-15215	274	3	have	have	VERB
ajfa-15215	274	4	lower	low	ADJ
ajfa-15215	274	5	growth	growth	NOUN
ajfa-15215	274	6	rates	rate	NOUN
ajfa-15215	274	7	in	in	ADP
ajfa-15215	274	8	net	net	ADJ
ajfa-15215	274	9	sales	sale	NOUN
ajfa-15215	274	10	and	and	CCONJ
ajfa-15215	274	11	earnings	earning	NOUN
ajfa-15215	274	12	prior	prior	ADV
ajfa-15215	274	13	to	to	ADP
ajfa-15215	274	14	formation	formation	NOUN
ajfa-15215	274	15	of	of	ADP
ajfa-15215	274	16	portfolios	portfolio	NOUN
ajfa-15215	274	17	.	.	PUNCT
ajfa-15215	275	1	however	however	ADV
ajfa-15215	275	2	,	,	PUNCT
ajfa-15215	275	3	this	this	DET
ajfa-15215	275	4	trend	trend	NOUN
ajfa-15215	275	5	reverses	reverse	VERB
ajfa-15215	275	6	in	in	ADP
ajfa-15215	275	7	future	future	ADJ
ajfa-15215	275	8	years	year	NOUN
ajfa-15215	275	9	after	after	ADP
ajfa-15215	275	10	framing	frame	VERB
ajfa-15215	275	11	portfolios	portfolio	NOUN
ajfa-15215	275	12	.	.	PUNCT
ajfa-15215	276	1	value	value	NOUN
ajfa-15215	276	2	premium	premium	NOUN
ajfa-15215	276	3	is	be	AUX
ajfa-15215	276	4	borne	bear	VERB
ajfa-15215	276	5	out	out	ADP
ajfa-15215	276	6	of	of	ADP
ajfa-15215	276	7	investor	investor	NOUN
ajfa-15215	276	8	overreaction	overreaction	NOUN
ajfa-15215	276	9	to	to	ADP
ajfa-15215	276	10	bad	bad	ADJ
ajfa-15215	276	11	information	information	NOUN
ajfa-15215	276	12	associated	associate	VERB
ajfa-15215	276	13	with	with	ADP
ajfa-15215	276	14	relatively	relatively	ADV
ajfa-15215	276	15	distressed	distressed	ADJ
ajfa-15215	276	16	value	value	NOUN
ajfa-15215	276	17	stocks	stock	NOUN
ajfa-15215	276	18	,	,	PUNCT
ajfa-15215	276	19	which	which	PRON
ajfa-15215	276	20	leads	lead	VERB
ajfa-15215	276	21	to	to	ADP
ajfa-15215	276	22	their	their	PRON
ajfa-15215	276	23	undervaluation	undervaluation	NOUN
ajfa-15215	276	24	.	.	PUNCT
ajfa-15215	277	1	for	for	ADP
ajfa-15215	277	2	growth	growth	NOUN
ajfa-15215	277	3	based	base	VERB
ajfa-15215	277	4	strategy	strategy	NOUN
ajfa-15215	277	5	,	,	PUNCT
ajfa-15215	277	6	we	we	PRON
ajfa-15215	277	7	estimate	estimate	VERB
ajfa-15215	277	8	average	average	ADJ
ajfa-15215	277	9	growth	growth	NOUN
ajfa-15215	277	10	rates	rate	NOUN
ajfa-15215	277	11	in	in	ADP
ajfa-15215	277	12	net	net	ADJ
ajfa-15215	277	13	sales	sale	NOUN
ajfa-15215	277	14	and	and	CCONJ
ajfa-15215	277	15	ebitda	ebitda	NOUN
ajfa-15215	277	16	.	.	PUNCT
ajfa-15215	278	1	average	average	NOUN
ajfa-15215	278	2	of	of	ADP
ajfa-15215	278	3	past	past	ADJ
ajfa-15215	278	4	5	5	NUM
ajfa-15215	278	5	years	year	NOUN
ajfa-15215	278	6	’	'	PUNCT
ajfa-15215	278	7	annual	annual	ADJ
ajfa-15215	278	8	growth	growth	NOUN
ajfa-15215	278	9	prior	prior	ADV
ajfa-15215	278	10	to	to	ADP
ajfa-15215	278	11	portfolio	portfolio	NOUN
ajfa-15215	278	12	formation	formation	NOUN
ajfa-15215	278	13	is	be	AUX
ajfa-15215	278	14	calculated	calculate	VERB
ajfa-15215	278	15	using	use	VERB
ajfa-15215	278	16	simple	simple	ADJ
ajfa-15215	278	17	average	average	NOUN
ajfa-15215	278	18	,	,	PUNCT
ajfa-15215	278	19	weighted	weight	VERB
ajfa-15215	278	20	average	average	ADJ
ajfa-15215	278	21	and	and	CCONJ
ajfa-15215	278	22	compound	compound	VERB
ajfa-15215	278	23	annual	annual	ADJ
ajfa-15215	278	24	growth	growth	NOUN
ajfa-15215	278	25	rate	rate	NOUN
ajfa-15215	278	26	.	.	PUNCT
ajfa-15215	279	1	using	use	VERB
ajfa-15215	279	2	all	all	DET
ajfa-15215	279	3	the	the	DET
ajfa-15215	279	4	above	above	ADJ
ajfa-15215	279	5	mentioned	mention	VERB
ajfa-15215	279	6	criterion	criterion	NOUN
ajfa-15215	279	7	,	,	PUNCT
ajfa-15215	279	8	growth	growth	NOUN
ajfa-15215	279	9	based	base	VERB
ajfa-15215	279	10	investing	investing	NOUN
ajfa-15215	279	11	proves	prove	VERB
ajfa-15215	279	12	to	to	PART
ajfa-15215	279	13	be	be	AUX
ajfa-15215	279	14	profitable	profitable	ADJ
ajfa-15215	279	15	as	as	ADP
ajfa-15215	279	16	asian	asian	ADJ
ajfa-15215	279	17	journal	journal	NOUN
ajfa-15215	279	18	of	of	ADP
ajfa-15215	279	19	finance	finance	PROPN
ajfa-15215	279	20	&	&	CCONJ
ajfa-15215	279	21	accounting	accounting	PROPN
ajfa-15215	279	22	issn	issn	PROPN
ajfa-15215	279	23	1946	1946	NUM
ajfa-15215	279	24	-	-	PUNCT
ajfa-15215	279	25	052x	052x	PROPN
ajfa-15215	279	26	2019	2019	NUM
ajfa-15215	279	27	,	,	PUNCT
ajfa-15215	279	28	vol	vol	NOUN
ajfa-15215	279	29	.	.	PROPN
ajfa-15215	280	1	11	11	NUM
ajfa-15215	280	2	,	,	PUNCT
ajfa-15215	280	3	no	no	INTJ
ajfa-15215	280	4	.	.	NOUN
ajfa-15215	280	5	2	2	NUM
ajfa-15215	280	6	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	280	7	53	53	NUM
ajfa-15215	280	8	securities	security	NOUN
ajfa-15215	280	9	with	with	ADP
ajfa-15215	280	10	higher	high	ADJ
ajfa-15215	280	11	growth	growth	NOUN
ajfa-15215	280	12	rates	rate	NOUN
ajfa-15215	280	13	outperform	outperform	VERB
ajfa-15215	280	14	low	low	ADJ
ajfa-15215	280	15	growth	growth	NOUN
ajfa-15215	280	16	stocks	stock	NOUN
ajfa-15215	280	17	.	.	PUNCT
ajfa-15215	281	1	this	this	DET
ajfa-15215	281	2	strategy	strategy	NOUN
ajfa-15215	281	3	is	be	AUX
ajfa-15215	281	4	profitable	profitable	ADJ
ajfa-15215	281	5	due	due	ADP
ajfa-15215	281	6	to	to	ADP
ajfa-15215	281	7	future	future	ADJ
ajfa-15215	281	8	growth	growth	NOUN
ajfa-15215	281	9	potential	potential	NOUN
ajfa-15215	281	10	of	of	ADP
ajfa-15215	281	11	high	high	ADJ
ajfa-15215	281	12	growth	growth	NOUN
ajfa-15215	281	13	stocks	stock	NOUN
ajfa-15215	281	14	.	.	PUNCT
ajfa-15215	282	1	stocks	stock	NOUN
ajfa-15215	282	2	with	with	ADP
ajfa-15215	282	3	higher	high	ADJ
ajfa-15215	282	4	past	past	ADJ
ajfa-15215	282	5	growth	growth	NOUN
ajfa-15215	282	6	rate	rate	NOUN
ajfa-15215	282	7	continue	continue	VERB
ajfa-15215	282	8	to	to	PART
ajfa-15215	282	9	have	have	VERB
ajfa-15215	282	10	higher	high	ADJ
ajfa-15215	282	11	growth	growth	NOUN
ajfa-15215	282	12	rates	rate	NOUN
ajfa-15215	282	13	post	post	VERB
ajfa-15215	282	14	portfolio	portfolio	NOUN
ajfa-15215	282	15	formation	formation	NOUN
ajfa-15215	282	16	as	as	ADP
ajfa-15215	282	17	compared	compare	VERB
ajfa-15215	282	18	to	to	ADP
ajfa-15215	282	19	low	low	ADJ
ajfa-15215	282	20	growth	growth	NOUN
ajfa-15215	282	21	stocks	stock	NOUN
ajfa-15215	282	22	.	.	PUNCT
ajfa-15215	283	1	superior	superior	ADJ
ajfa-15215	283	2	performance	performance	NOUN
ajfa-15215	283	3	of	of	ADP
ajfa-15215	283	4	low	low	ADJ
ajfa-15215	283	5	p	p	X
ajfa-15215	283	6	/	/	SYM
ajfa-15215	283	7	e	e	NOUN
ajfa-15215	283	8	(	(	PUNCT
ajfa-15215	283	9	p	p	PROPN
ajfa-15215	283	10	/	/	SYM
ajfa-15215	283	11	b	b	NOUN
ajfa-15215	283	12	)	)	PUNCT
ajfa-15215	283	13	stocks	stock	NOUN
ajfa-15215	283	14	and	and	CCONJ
ajfa-15215	283	15	high	high	ADJ
ajfa-15215	283	16	growth	growth	NOUN
ajfa-15215	283	17	stocks	stock	NOUN
ajfa-15215	283	18	at	at	ADP
ajfa-15215	283	19	the	the	DET
ajfa-15215	283	20	same	same	ADJ
ajfa-15215	283	21	time	time	NOUN
ajfa-15215	283	22	,	,	PUNCT
ajfa-15215	283	23	leads	lead	VERB
ajfa-15215	283	24	us	we	PRON
ajfa-15215	283	25	to	to	PART
ajfa-15215	283	26	investigate	investigate	VERB
ajfa-15215	283	27	if	if	SCONJ
ajfa-15215	283	28	value	value	NOUN
ajfa-15215	283	29	and	and	CCONJ
ajfa-15215	283	30	growth	growth	NOUN
ajfa-15215	283	31	are	be	AUX
ajfa-15215	283	32	on	on	ADP
ajfa-15215	283	33	a	a	DET
ajfa-15215	283	34	separate	separate	ADJ
ajfa-15215	283	35	continuum	continuum	NOUN
ajfa-15215	283	36	.	.	PUNCT
ajfa-15215	284	1	amongst	amongst	ADP
ajfa-15215	284	2	univariate	univariate	ADJ
ajfa-15215	284	3	value	value	NOUN
ajfa-15215	284	4	and	and	CCONJ
ajfa-15215	284	5	growth	growth	NOUN
ajfa-15215	284	6	strategies	strategy	NOUN
ajfa-15215	284	7	,	,	PUNCT
ajfa-15215	284	8	maximum	maximum	ADJ
ajfa-15215	284	9	return	return	NOUN
ajfa-15215	284	10	differential	differential	NOUN
ajfa-15215	284	11	is	be	AUX
ajfa-15215	284	12	provided	provide	VERB
ajfa-15215	284	13	by	by	ADP
ajfa-15215	284	14	price	price	NOUN
ajfa-15215	284	15	-	-	PUNCT
ajfa-15215	284	16	to	to	ADP
ajfa-15215	284	17	-	-	PUNCT
ajfa-15215	284	18	earnings	earning	NOUN
ajfa-15215	284	19	based	base	VERB
ajfa-15215	284	20	and	and	CCONJ
ajfa-15215	284	21	simple	simple	ADJ
ajfa-15215	284	22	average	average	ADJ
ajfa-15215	284	23	earnings	earning	NOUN
ajfa-15215	284	24	growth	growth	NOUN
ajfa-15215	284	25	based	base	VERB
ajfa-15215	284	26	strategy	strategy	NOUN
ajfa-15215	284	27	respectively	respectively	ADV
ajfa-15215	284	28	.	.	PUNCT
ajfa-15215	285	1	so	so	ADV
ajfa-15215	285	2	we	we	PRON
ajfa-15215	285	3	use	use	VERB
ajfa-15215	285	4	these	these	DET
ajfa-15215	285	5	two	two	NUM
ajfa-15215	285	6	investing	investing	NOUN
ajfa-15215	285	7	styles	style	NOUN
ajfa-15215	285	8	for	for	ADP
ajfa-15215	285	9	further	further	ADJ
ajfa-15215	285	10	analysis	analysis	NOUN
ajfa-15215	285	11	.	.	PUNCT
ajfa-15215	286	1	negative	negative	ADJ
ajfa-15215	286	2	correlation	correlation	NOUN
ajfa-15215	286	3	is	be	AUX
ajfa-15215	286	4	found	find	VERB
ajfa-15215	286	5	between	between	ADP
ajfa-15215	286	6	return	return	NOUN
ajfa-15215	286	7	premiums	premium	NOUN
ajfa-15215	286	8	of	of	ADP
ajfa-15215	286	9	value	value	NOUN
ajfa-15215	286	10	strategy	strategy	NOUN
ajfa-15215	286	11	and	and	CCONJ
ajfa-15215	286	12	growth	growth	NOUN
ajfa-15215	286	13	strategy	strategy	NOUN
ajfa-15215	286	14	,	,	PUNCT
ajfa-15215	286	15	thereby	thereby	ADV
ajfa-15215	286	16	leading	lead	VERB
ajfa-15215	286	17	to	to	ADP
ajfa-15215	286	18	profitable	profitable	ADJ
ajfa-15215	286	19	bivariate	bivariate	ADJ
ajfa-15215	286	20	strategies	strategy	NOUN
ajfa-15215	286	21	that	that	PRON
ajfa-15215	286	22	use	use	VERB
ajfa-15215	286	23	combined	combined	ADJ
ajfa-15215	286	24	information	information	NOUN
ajfa-15215	286	25	contained	contain	VERB
ajfa-15215	286	26	in	in	ADP
ajfa-15215	286	27	value	value	NOUN
ajfa-15215	286	28	ratios	ratio	NOUN
ajfa-15215	286	29	and	and	CCONJ
ajfa-15215	286	30	growth	growth	NOUN
ajfa-15215	286	31	rates	rate	NOUN
ajfa-15215	286	32	.	.	PUNCT
ajfa-15215	287	1	this	this	PRON
ajfa-15215	287	2	can	can	AUX
ajfa-15215	287	3	be	be	AUX
ajfa-15215	287	4	due	due	ADJ
ajfa-15215	287	5	to	to	ADP
ajfa-15215	287	6	different	different	ADJ
ajfa-15215	287	7	behaviour	behaviour	NOUN
ajfa-15215	287	8	exhibited	exhibit	VERB
ajfa-15215	287	9	by	by	ADP
ajfa-15215	287	10	investors	investor	NOUN
ajfa-15215	287	11	in	in	ADP
ajfa-15215	287	12	market	market	NOUN
ajfa-15215	287	13	upswings	upswing	NOUN
ajfa-15215	287	14	and	and	CCONJ
ajfa-15215	287	15	downswings	downswing	NOUN
ajfa-15215	287	16	.	.	PUNCT
ajfa-15215	288	1	when	when	SCONJ
ajfa-15215	288	2	business	business	NOUN
ajfa-15215	288	3	conditions	condition	NOUN
ajfa-15215	288	4	are	be	AUX
ajfa-15215	288	5	robust	robust	ADJ
ajfa-15215	288	6	and	and	CCONJ
ajfa-15215	288	7	markets	market	NOUN
ajfa-15215	288	8	are	be	AUX
ajfa-15215	288	9	rising	rise	VERB
ajfa-15215	288	10	,	,	PUNCT
ajfa-15215	288	11	investors	investor	NOUN
ajfa-15215	288	12	tend	tend	VERB
ajfa-15215	288	13	to	to	PART
ajfa-15215	288	14	overreact	overreact	VERB
ajfa-15215	288	15	to	to	ADP
ajfa-15215	288	16	good	good	NOUN
ajfa-15215	288	17	as	as	ADV
ajfa-15215	288	18	well	well	ADV
ajfa-15215	288	19	as	as	ADP
ajfa-15215	288	20	to	to	ADP
ajfa-15215	288	21	bad	bad	ADJ
ajfa-15215	288	22	information	information	NOUN
ajfa-15215	288	23	.	.	PUNCT
ajfa-15215	289	1	this	this	DET
ajfa-15215	289	2	sentiment	sentiment	NOUN
ajfa-15215	289	3	driven	drive	VERB
ajfa-15215	289	4	market	market	NOUN
ajfa-15215	289	5	leads	lead	VERB
ajfa-15215	289	6	to	to	ADP
ajfa-15215	289	7	overvaluation	overvaluation	NOUN
ajfa-15215	289	8	of	of	ADP
ajfa-15215	289	9	high	high	ADJ
ajfa-15215	289	10	growth	growth	NOUN
ajfa-15215	289	11	stocks	stock	NOUN
ajfa-15215	289	12	.	.	PUNCT
ajfa-15215	290	1	at	at	ADP
ajfa-15215	290	2	the	the	DET
ajfa-15215	290	3	same	same	ADJ
ajfa-15215	290	4	time	time	NOUN
ajfa-15215	290	5	,	,	PUNCT
ajfa-15215	290	6	overreaction	overreaction	NOUN
ajfa-15215	290	7	to	to	ADP
ajfa-15215	290	8	bad	bad	ADJ
ajfa-15215	290	9	news	news	NOUN
ajfa-15215	290	10	leads	lead	VERB
ajfa-15215	290	11	to	to	ADP
ajfa-15215	290	12	undervaluation	undervaluation	NOUN
ajfa-15215	290	13	of	of	ADP
ajfa-15215	290	14	relatively	relatively	ADV
ajfa-15215	290	15	distressed	distressed	ADJ
ajfa-15215	290	16	low	low	ADJ
ajfa-15215	290	17	p	p	X
ajfa-15215	290	18	/	/	SYM
ajfa-15215	290	19	e	e	NOUN
ajfa-15215	290	20	and	and	CCONJ
ajfa-15215	290	21	low	low	ADJ
ajfa-15215	290	22	p	p	PROPN
ajfa-15215	290	23	/	/	SYM
ajfa-15215	290	24	b	b	NOUN
ajfa-15215	290	25	stocks	stock	NOUN
ajfa-15215	290	26	.	.	PUNCT
ajfa-15215	291	1	thus	thus	ADV
ajfa-15215	291	2	,	,	PUNCT
ajfa-15215	291	3	significant	significant	ADJ
ajfa-15215	291	4	profits	profit	NOUN
ajfa-15215	291	5	can	can	AUX
ajfa-15215	291	6	be	be	AUX
ajfa-15215	291	7	earned	earn	VERB
ajfa-15215	291	8	by	by	ADP
ajfa-15215	291	9	staying	stay	VERB
ajfa-15215	291	10	invested	invest	VERB
ajfa-15215	291	11	in	in	ADP
ajfa-15215	291	12	value	value	NOUN
ajfa-15215	291	13	stocks	stock	NOUN
ajfa-15215	291	14	.	.	PUNCT
ajfa-15215	292	1	on	on	ADP
ajfa-15215	292	2	the	the	DET
ajfa-15215	292	3	other	other	ADJ
ajfa-15215	292	4	hand	hand	NOUN
ajfa-15215	292	5	,	,	PUNCT
ajfa-15215	292	6	in	in	ADP
ajfa-15215	292	7	pessimistic	pessimistic	ADJ
ajfa-15215	292	8	situations	situation	NOUN
ajfa-15215	292	9	when	when	SCONJ
ajfa-15215	292	10	markets	market	NOUN
ajfa-15215	292	11	are	be	AUX
ajfa-15215	292	12	in	in	ADP
ajfa-15215	292	13	a	a	DET
ajfa-15215	292	14	downturn	downturn	NOUN
ajfa-15215	292	15	,	,	PUNCT
ajfa-15215	292	16	investor	investor	NOUN
ajfa-15215	292	17	sentiment	sentiment	NOUN
ajfa-15215	292	18	dries	dry	VERB
ajfa-15215	292	19	out	out	ADP
ajfa-15215	292	20	and	and	CCONJ
ajfa-15215	292	21	investors	investor	NOUN
ajfa-15215	292	22	resort	resort	VERB
ajfa-15215	292	23	back	back	ADV
ajfa-15215	292	24	to	to	ADP
ajfa-15215	292	25	fundamentals	fundamental	NOUN
ajfa-15215	292	26	.	.	PUNCT
ajfa-15215	293	1	previous	previous	ADJ
ajfa-15215	293	2	over	over	ADP
ajfa-15215	293	3	valuation	valuation	NOUN
ajfa-15215	293	4	of	of	ADP
ajfa-15215	293	5	growth	growth	NOUN
ajfa-15215	293	6	stocks	stock	NOUN
ajfa-15215	293	7	is	be	AUX
ajfa-15215	293	8	corrected	correct	VERB
ajfa-15215	293	9	in	in	ADP
ajfa-15215	293	10	this	this	DET
ajfa-15215	293	11	phase	phase	NOUN
ajfa-15215	293	12	,	,	PUNCT
ajfa-15215	293	13	and	and	CCONJ
ajfa-15215	293	14	market	market	NOUN
ajfa-15215	293	15	players	player	NOUN
ajfa-15215	293	16	tend	tend	VERB
ajfa-15215	293	17	to	to	PART
ajfa-15215	293	18	invest	invest	VERB
ajfa-15215	293	19	in	in	ADP
ajfa-15215	293	20	securities	security	NOUN
ajfa-15215	293	21	with	with	ADP
ajfa-15215	293	22	high	high	ADJ
ajfa-15215	293	23	past	past	ADJ
ajfa-15215	293	24	growth	growth	NOUN
ajfa-15215	293	25	with	with	ADP
ajfa-15215	293	26	the	the	DET
ajfa-15215	293	27	belief	belief	NOUN
ajfa-15215	293	28	that	that	SCONJ
ajfa-15215	293	29	this	this	DET
ajfa-15215	293	30	growth	growth	NOUN
ajfa-15215	293	31	rate	rate	NOUN
ajfa-15215	293	32	will	will	AUX
ajfa-15215	293	33	continue	continue	VERB
ajfa-15215	293	34	in	in	ADP
ajfa-15215	293	35	future	future	NOUN
ajfa-15215	293	36	.	.	PUNCT
ajfa-15215	294	1	negative	negative	ADJ
ajfa-15215	294	2	correlation	correlation	NOUN
ajfa-15215	294	3	helps	help	VERB
ajfa-15215	294	4	investors	investor	NOUN
ajfa-15215	294	5	achieve	achieve	VERB
ajfa-15215	294	6	the	the	DET
ajfa-15215	294	7	benefit	benefit	NOUN
ajfa-15215	294	8	of	of	ADP
ajfa-15215	294	9	time	time	NOUN
ajfa-15215	294	10	diversification	diversification	NOUN
ajfa-15215	294	11	,	,	PUNCT
ajfa-15215	294	12	as	as	SCONJ
ajfa-15215	294	13	it	it	PRON
ajfa-15215	294	14	is	be	AUX
ajfa-15215	294	15	possible	possible	ADJ
ajfa-15215	294	16	to	to	PART
ajfa-15215	294	17	beat	beat	VERB
ajfa-15215	294	18	the	the	DET
ajfa-15215	294	19	market	market	NOUN
ajfa-15215	294	20	on	on	ADP
ajfa-15215	294	21	both	both	DET
ajfa-15215	294	22	ends	end	NOUN
ajfa-15215	294	23	by	by	ADP
ajfa-15215	294	24	investing	invest	VERB
ajfa-15215	294	25	in	in	ADP
ajfa-15215	294	26	bivariate	bivariate	ADJ
ajfa-15215	294	27	strategies	strategy	NOUN
ajfa-15215	294	28	.	.	PUNCT
ajfa-15215	295	1	so	so	ADV
ajfa-15215	295	2	investors	investor	NOUN
ajfa-15215	295	3	should	should	AUX
ajfa-15215	295	4	focus	focus	VERB
ajfa-15215	295	5	on	on	ADP
ajfa-15215	295	6	value	value	NOUN
ajfa-15215	295	7	and	and	CCONJ
ajfa-15215	295	8	growth	growth	NOUN
ajfa-15215	295	9	strategy	strategy	NOUN
ajfa-15215	295	10	instead	instead	ADV
ajfa-15215	295	11	of	of	ADP
ajfa-15215	295	12	value	value	NOUN
ajfa-15215	295	13	vs	vs	ADP
ajfa-15215	295	14	growth	growth	NOUN
ajfa-15215	295	15	strategy	strategy	NOUN
ajfa-15215	295	16	.	.	PUNCT
ajfa-15215	296	1	to	to	PART
ajfa-15215	296	2	evaluate	evaluate	VERB
ajfa-15215	296	3	profitability	profitability	NOUN
ajfa-15215	296	4	of	of	ADP
ajfa-15215	296	5	combined	combined	ADJ
ajfa-15215	296	6	information	information	NOUN
ajfa-15215	296	7	,	,	PUNCT
ajfa-15215	296	8	we	we	PRON
ajfa-15215	296	9	use	use	VERB
ajfa-15215	296	10	independent	independent	ADJ
ajfa-15215	296	11	sorted	sorted	ADJ
ajfa-15215	296	12	and	and	CCONJ
ajfa-15215	296	13	two	two	NUM
ajfa-15215	296	14	conditionally	conditionally	ADV
ajfa-15215	296	15	sorted	sort	VERB
ajfa-15215	296	16	bivariate	bivariate	ADJ
ajfa-15215	296	17	strategies	strategy	NOUN
ajfa-15215	296	18	(	(	PUNCT
ajfa-15215	296	19	growth	growth	NOUN
ajfa-15215	296	20	within	within	ADP
ajfa-15215	296	21	value	value	NOUN
ajfa-15215	296	22	and	and	CCONJ
ajfa-15215	296	23	value	value	NOUN
ajfa-15215	296	24	within	within	ADP
ajfa-15215	296	25	growth	growth	NOUN
ajfa-15215	296	26	)	)	PUNCT
ajfa-15215	296	27	.	.	PUNCT
ajfa-15215	297	1	for	for	ADP
ajfa-15215	297	2	all	all	DET
ajfa-15215	297	3	three	three	NUM
ajfa-15215	297	4	styles	style	NOUN
ajfa-15215	297	5	,	,	PUNCT
ajfa-15215	297	6	low	low	ADJ
ajfa-15215	297	7	value	value	NOUN
ajfa-15215	297	8	-	-	PUNCT
ajfa-15215	297	9	high	high	ADJ
ajfa-15215	297	10	growth	growth	NOUN
ajfa-15215	297	11	stocks	stock	NOUN
ajfa-15215	297	12	outperform	outperform	VERB
ajfa-15215	297	13	high	high	ADJ
ajfa-15215	297	14	value	value	NOUN
ajfa-15215	297	15	-	-	PUNCT
ajfa-15215	297	16	low	low	ADJ
ajfa-15215	297	17	growth	growth	NOUN
ajfa-15215	297	18	stocks	stock	NOUN
ajfa-15215	297	19	.	.	PUNCT
ajfa-15215	298	1	all	all	PRON
ajfa-15215	298	2	of	of	ADP
ajfa-15215	298	3	them	they	PRON
ajfa-15215	298	4	provide	provide	VERB
ajfa-15215	298	5	higher	high	ADJ
ajfa-15215	298	6	returns	return	NOUN
ajfa-15215	298	7	vis	vis	X
ajfa-15215	298	8	-	-	ADJ
ajfa-15215	298	9	à	à	X
ajfa-15215	298	10	-	-	PUNCT
ajfa-15215	298	11	vis	vis	X
ajfa-15215	298	12	univariate	univariate	ADJ
ajfa-15215	298	13	value	value	NOUN
ajfa-15215	298	14	strategy	strategy	NOUN
ajfa-15215	298	15	and	and	CCONJ
ajfa-15215	298	16	growth	growth	NOUN
ajfa-15215	298	17	strategy	strategy	NOUN
ajfa-15215	298	18	.	.	PUNCT
ajfa-15215	299	1	maximum	maximum	ADJ
ajfa-15215	299	2	return	return	NOUN
ajfa-15215	299	3	is	be	AUX
ajfa-15215	299	4	provided	provide	VERB
ajfa-15215	299	5	by	by	ADP
ajfa-15215	299	6	independently	independently	ADV
ajfa-15215	299	7	sorted	sorted	ADJ
ajfa-15215	299	8	portfolio	portfolio	NOUN
ajfa-15215	299	9	.	.	PUNCT
ajfa-15215	300	1	profitability	profitability	NOUN
ajfa-15215	300	2	of	of	ADP
ajfa-15215	300	3	combined	combined	ADJ
ajfa-15215	300	4	strategies	strategy	NOUN
ajfa-15215	300	5	is	be	AUX
ajfa-15215	300	6	also	also	ADV
ajfa-15215	300	7	confirmed	confirm	VERB
ajfa-15215	300	8	by	by	ADP
ajfa-15215	300	9	higher	high	ADJ
ajfa-15215	300	10	sharpe	sharpe	PROPN
ajfa-15215	300	11	ratios	ratio	NOUN
ajfa-15215	300	12	exhibited	exhibit	VERB
ajfa-15215	300	13	by	by	ADP
ajfa-15215	300	14	bivariate	bivariate	ADJ
ajfa-15215	300	15	sorted	sort	VERB
ajfa-15215	300	16	portfolios	portfolio	NOUN
ajfa-15215	300	17	visà	visà	ADV
ajfa-15215	300	18	-	-	PUNCT
ajfa-15215	300	19	vis	vis	X
ajfa-15215	300	20	univariate	univariate	ADJ
ajfa-15215	300	21	sorted	sorted	ADJ
ajfa-15215	300	22	portfolios	portfolio	NOUN
ajfa-15215	300	23	.	.	PUNCT
ajfa-15215	301	1	further	far	ADV
ajfa-15215	301	2	,	,	PUNCT
ajfa-15215	301	3	an	an	DET
ajfa-15215	301	4	analysis	analysis	NOUN
ajfa-15215	301	5	of	of	ADP
ajfa-15215	301	6	risk	risk	NOUN
ajfa-15215	301	7	adjusted	adjust	VERB
ajfa-15215	301	8	returns	return	NOUN
ajfa-15215	301	9	shows	show	VERB
ajfa-15215	301	10	that	that	SCONJ
ajfa-15215	301	11	profits	profit	NOUN
ajfa-15215	301	12	of	of	ADP
ajfa-15215	301	13	univariate	univariate	ADJ
ajfa-15215	301	14	earnings	earning	NOUN
ajfa-15215	301	15	growth	growth	NOUN
ajfa-15215	301	16	based	base	VERB
ajfa-15215	301	17	portfolios	portfolio	NOUN
ajfa-15215	301	18	,	,	PUNCT
ajfa-15215	301	19	and	and	CCONJ
ajfa-15215	301	20	high	high	ADJ
ajfa-15215	301	21	value	value	NOUN
ajfa-15215	301	22	portfolio	portfolio	NOUN
ajfa-15215	301	23	is	be	AUX
ajfa-15215	301	24	captured	capture	VERB
ajfa-15215	301	25	by	by	ADP
ajfa-15215	301	26	capital	capital	NOUN
ajfa-15215	301	27	asset	asset	NOUN
ajfa-15215	301	28	pricing	pricing	NOUN
ajfa-15215	301	29	model	model	NOUN
ajfa-15215	301	30	.	.	PUNCT
ajfa-15215	302	1	famafrench	famafrench	PROPN
ajfa-15215	302	2	3	3	NUM
ajfa-15215	302	3	factor	factor	NOUN
ajfa-15215	302	4	model	model	NOUN
ajfa-15215	302	5	absorbs	absorb	VERB
ajfa-15215	302	6	returns	return	NOUN
ajfa-15215	302	7	earned	earn	VERB
ajfa-15215	302	8	by	by	ADP
ajfa-15215	302	9	low	low	ADJ
ajfa-15215	302	10	value	value	NOUN
ajfa-15215	302	11	stocks	stock	NOUN
ajfa-15215	302	12	.	.	PUNCT
ajfa-15215	303	1	thus	thus	ADV
ajfa-15215	303	2	,	,	PUNCT
ajfa-15215	303	3	return	return	NOUN
ajfa-15215	303	4	earned	earn	VERB
ajfa-15215	303	5	by	by	ADP
ajfa-15215	303	6	univariate	univariate	ADJ
ajfa-15215	303	7	growth	growth	NOUN
ajfa-15215	303	8	and	and	CCONJ
ajfa-15215	303	9	value	value	NOUN
ajfa-15215	303	10	investing	investing	NOUN
ajfa-15215	303	11	style	style	NOUN
ajfa-15215	303	12	is	be	AUX
ajfa-15215	303	13	merely	merely	ADV
ajfa-15215	303	14	a	a	DET
ajfa-15215	303	15	compensation	compensation	NOUN
ajfa-15215	303	16	for	for	ADP
ajfa-15215	303	17	risk	risk	NOUN
ajfa-15215	303	18	,	,	PUNCT
ajfa-15215	303	19	which	which	PRON
ajfa-15215	303	20	is	be	AUX
ajfa-15215	303	21	explained	explain	VERB
ajfa-15215	303	22	by	by	ADP
ajfa-15215	303	23	standard	standard	ADJ
ajfa-15215	303	24	risk	risk	NOUN
ajfa-15215	303	25	models	model	NOUN
ajfa-15215	303	26	.	.	PUNCT
ajfa-15215	304	1	asian	asian	ADJ
ajfa-15215	304	2	journal	journal	PROPN
ajfa-15215	304	3	of	of	ADP
ajfa-15215	304	4	finance	finance	PROPN
ajfa-15215	304	5	&	&	CCONJ
ajfa-15215	304	6	accounting	accounting	PROPN
ajfa-15215	304	7	issn	issn	PROPN
ajfa-15215	304	8	1946	1946	NUM
ajfa-15215	304	9	-	-	PUNCT
ajfa-15215	304	10	052x	052x	PROPN
ajfa-15215	304	11	2019	2019	NUM
ajfa-15215	304	12	,	,	PUNCT
ajfa-15215	304	13	vol	vol	NOUN
ajfa-15215	304	14	.	.	PROPN
ajfa-15215	304	15	11	11	NUM
ajfa-15215	304	16	,	,	PUNCT
ajfa-15215	304	17	no	no	INTJ
ajfa-15215	304	18	.	.	NOUN
ajfa-15215	304	19	2	2	NUM
ajfa-15215	304	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	304	21	54	54	NUM
ajfa-15215	304	22	however	however	ADV
ajfa-15215	304	23	,	,	PUNCT
ajfa-15215	304	24	profits	profit	NOUN
ajfa-15215	304	25	associated	associate	VERB
ajfa-15215	304	26	with	with	ADP
ajfa-15215	304	27	combination	combination	NOUN
ajfa-15215	304	28	of	of	ADP
ajfa-15215	304	29	growth	growth	NOUN
ajfa-15215	304	30	and	and	CCONJ
ajfa-15215	304	31	value	value	NOUN
ajfa-15215	304	32	can	can	AUX
ajfa-15215	304	33	be	be	AUX
ajfa-15215	304	34	successfully	successfully	ADV
ajfa-15215	304	35	exploited	exploit	VERB
ajfa-15215	304	36	by	by	ADP
ajfa-15215	304	37	investors	investor	NOUN
ajfa-15215	304	38	in	in	ADP
ajfa-15215	304	39	the	the	DET
ajfa-15215	304	40	indian	indian	ADJ
ajfa-15215	304	41	market	market	NOUN
ajfa-15215	304	42	.	.	PUNCT
ajfa-15215	305	1	returns	return	NOUN
ajfa-15215	305	2	on	on	ADP
ajfa-15215	305	3	independently	independently	ADV
ajfa-15215	305	4	and	and	CCONJ
ajfa-15215	305	5	conditionally	conditionally	ADV
ajfa-15215	305	6	sorted	sort	VERB
ajfa-15215	305	7	low	low	ADJ
ajfa-15215	305	8	value	value	NOUN
ajfa-15215	305	9	-	-	PUNCT
ajfa-15215	305	10	high	high	ADJ
ajfa-15215	305	11	growth	growth	NOUN
ajfa-15215	305	12	portfolios	portfolio	NOUN
ajfa-15215	305	13	remain	remain	VERB
ajfa-15215	305	14	unexplained	unexplained	ADJ
ajfa-15215	305	15	by	by	ADP
ajfa-15215	305	16	standard	standard	ADJ
ajfa-15215	305	17	risk	risk	NOUN
ajfa-15215	305	18	models	model	NOUN
ajfa-15215	305	19	.	.	PUNCT
ajfa-15215	306	1	even	even	ADV
ajfa-15215	306	2	famafrench	famafrench	NOUN
ajfa-15215	306	3	5	5	NUM
ajfa-15215	306	4	factor	factor	NOUN
ajfa-15215	306	5	model	model	NOUN
ajfa-15215	306	6	is	be	AUX
ajfa-15215	306	7	unable	unable	ADJ
ajfa-15215	306	8	to	to	PART
ajfa-15215	306	9	capture	capture	VERB
ajfa-15215	306	10	these	these	DET
ajfa-15215	306	11	profits	profit	NOUN
ajfa-15215	306	12	.	.	PUNCT
ajfa-15215	307	1	the	the	DET
ajfa-15215	307	2	study	study	NOUN
ajfa-15215	307	3	is	be	AUX
ajfa-15215	307	4	useful	useful	ADJ
ajfa-15215	307	5	for	for	ADP
ajfa-15215	307	6	various	various	ADJ
ajfa-15215	307	7	stakeholders	stakeholder	NOUN
ajfa-15215	307	8	and	and	CCONJ
ajfa-15215	307	9	has	have	VERB
ajfa-15215	307	10	strong	strong	ADJ
ajfa-15215	307	11	implications	implication	NOUN
ajfa-15215	307	12	for	for	ADP
ajfa-15215	307	13	portfolio	portfolio	NOUN
ajfa-15215	307	14	managers	manager	NOUN
ajfa-15215	307	15	,	,	PUNCT
ajfa-15215	307	16	market	market	NOUN
ajfa-15215	307	17	regulators	regulator	NOUN
ajfa-15215	307	18	and	and	CCONJ
ajfa-15215	307	19	academic	academic	ADJ
ajfa-15215	307	20	community	community	NOUN
ajfa-15215	307	21	.	.	PUNCT
ajfa-15215	308	1	till	till	SCONJ
ajfa-15215	308	2	now	now	ADV
ajfa-15215	308	3	value	value	NOUN
ajfa-15215	308	4	and	and	CCONJ
ajfa-15215	308	5	growth	growth	NOUN
ajfa-15215	308	6	characteristics	characteristic	NOUN
ajfa-15215	308	7	have	have	AUX
ajfa-15215	308	8	been	be	AUX
ajfa-15215	308	9	identified	identify	VERB
ajfa-15215	308	10	on	on	ADP
ajfa-15215	308	11	the	the	DET
ajfa-15215	308	12	same	same	ADJ
ajfa-15215	308	13	continuum	continuum	NOUN
ajfa-15215	308	14	.	.	PUNCT
ajfa-15215	309	1	we	we	PRON
ajfa-15215	309	2	explode	explode	VERB
ajfa-15215	309	3	this	this	DET
ajfa-15215	309	4	myth	myth	NOUN
ajfa-15215	309	5	and	and	CCONJ
ajfa-15215	309	6	conclude	conclude	VERB
ajfa-15215	309	7	that	that	SCONJ
ajfa-15215	309	8	these	these	PRON
ajfa-15215	309	9	are	be	AUX
ajfa-15215	309	10	two	two	NUM
ajfa-15215	309	11	separate	separate	ADJ
ajfa-15215	309	12	dimensions	dimension	NOUN
ajfa-15215	309	13	.	.	PUNCT
ajfa-15215	310	1	low	low	ADJ
ajfa-15215	310	2	p	p	X
ajfa-15215	310	3	/	/	SYM
ajfa-15215	310	4	e	e	NOUN
ajfa-15215	310	5	and	and	CCONJ
ajfa-15215	310	6	p	p	X
ajfa-15215	310	7	/	/	SYM
ajfa-15215	310	8	b	b	NOUN
ajfa-15215	310	9	stocks	stock	NOUN
ajfa-15215	310	10	are	be	AUX
ajfa-15215	310	11	relatively	relatively	ADV
ajfa-15215	310	12	distressed	distressed	ADJ
ajfa-15215	310	13	,	,	PUNCT
ajfa-15215	310	14	and	and	CCONJ
ajfa-15215	310	15	investor	investor	NOUN
ajfa-15215	310	16	overreaction	overreaction	NOUN
ajfa-15215	310	17	may	may	AUX
ajfa-15215	310	18	be	be	AUX
ajfa-15215	310	19	leading	lead	VERB
ajfa-15215	310	20	to	to	ADP
ajfa-15215	310	21	a	a	DET
ajfa-15215	310	22	profitable	profitable	ADJ
ajfa-15215	310	23	value	value	NOUN
ajfa-15215	310	24	strategy	strategy	NOUN
ajfa-15215	310	25	.	.	PUNCT
ajfa-15215	311	1	whereas	whereas	SCONJ
ajfa-15215	311	2	,	,	PUNCT
ajfa-15215	311	3	growth	growth	NOUN
ajfa-15215	311	4	strategies	strategy	NOUN
ajfa-15215	311	5	are	be	AUX
ajfa-15215	311	6	profitable	profitable	ADJ
ajfa-15215	311	7	due	due	ADP
ajfa-15215	311	8	to	to	ADP
ajfa-15215	311	9	future	future	ADJ
ajfa-15215	311	10	growth	growth	NOUN
ajfa-15215	311	11	potential	potential	NOUN
ajfa-15215	311	12	of	of	ADP
ajfa-15215	311	13	stocks	stock	NOUN
ajfa-15215	311	14	with	with	ADP
ajfa-15215	311	15	higher	high	ADJ
ajfa-15215	311	16	past	past	ADJ
ajfa-15215	311	17	growth	growth	NOUN
ajfa-15215	311	18	.	.	PUNCT
ajfa-15215	312	1	these	these	DET
ajfa-15215	312	2	investing	investing	NOUN
ajfa-15215	312	3	styles	style	NOUN
ajfa-15215	312	4	are	be	AUX
ajfa-15215	312	5	found	find	VERB
ajfa-15215	312	6	to	to	PART
ajfa-15215	312	7	be	be	AUX
ajfa-15215	312	8	countercyclical	countercyclical	ADJ
ajfa-15215	312	9	in	in	ADP
ajfa-15215	312	10	nature	nature	NOUN
ajfa-15215	312	11	and	and	CCONJ
ajfa-15215	312	12	time	time	NOUN
ajfa-15215	312	13	diversification	diversification	NOUN
ajfa-15215	312	14	benefits	benefit	NOUN
ajfa-15215	312	15	can	can	AUX
ajfa-15215	312	16	be	be	AUX
ajfa-15215	312	17	achieved	achieve	VERB
ajfa-15215	312	18	by	by	ADP
ajfa-15215	312	19	combining	combine	VERB
ajfa-15215	312	20	the	the	DET
ajfa-15215	312	21	two	two	NUM
ajfa-15215	312	22	,	,	PUNCT
ajfa-15215	312	23	as	as	SCONJ
ajfa-15215	312	24	reflected	reflect	VERB
ajfa-15215	312	25	by	by	ADP
ajfa-15215	312	26	risk	risk	NOUN
ajfa-15215	312	27	adjusted	adjust	VERB
ajfa-15215	312	28	returns	return	NOUN
ajfa-15215	312	29	provided	provide	VERB
ajfa-15215	312	30	by	by	ADP
ajfa-15215	312	31	bivariate	bivariate	ADJ
ajfa-15215	312	32	strategies	strategy	NOUN
ajfa-15215	312	33	which	which	PRON
ajfa-15215	312	34	are	be	AUX
ajfa-15215	312	35	not	not	PART
ajfa-15215	312	36	even	even	ADV
ajfa-15215	312	37	explained	explain	VERB
ajfa-15215	312	38	by	by	ADP
ajfa-15215	312	39	multifactor	multifactor	NOUN
ajfa-15215	312	40	asset	asset	NOUN
ajfa-15215	312	41	pricing	pricing	NOUN
ajfa-15215	312	42	models	model	NOUN
ajfa-15215	312	43	.	.	PUNCT
ajfa-15215	313	1	these	these	DET
ajfa-15215	313	2	alpha	alpha	NOUN
ajfa-15215	313	3	generating	generate	VERB
ajfa-15215	313	4	strategies	strategy	NOUN
ajfa-15215	313	5	can	can	AUX
ajfa-15215	313	6	be	be	AUX
ajfa-15215	313	7	profitably	profitably	ADV
ajfa-15215	313	8	exploited	exploit	VERB
ajfa-15215	313	9	by	by	ADP
ajfa-15215	313	10	global	global	ADJ
ajfa-15215	313	11	portfolio	portfolio	NOUN
ajfa-15215	313	12	managers	manager	NOUN
ajfa-15215	313	13	who	who	PRON
ajfa-15215	313	14	focused	focus	VERB
ajfa-15215	313	15	only	only	ADV
ajfa-15215	313	16	on	on	ADP
ajfa-15215	313	17	value	value	NOUN
ajfa-15215	313	18	or	or	CCONJ
ajfa-15215	313	19	growth	growth	NOUN
ajfa-15215	313	20	trading	trading	NOUN
ajfa-15215	313	21	style	style	NOUN
ajfa-15215	313	22	till	till	SCONJ
ajfa-15215	313	23	now	now	ADV
ajfa-15215	313	24	.	.	PUNCT
ajfa-15215	314	1	they	they	PRON
ajfa-15215	314	2	should	should	AUX
ajfa-15215	314	3	consider	consider	VERB
ajfa-15215	314	4	both	both	DET
ajfa-15215	314	5	dimensions	dimension	NOUN
ajfa-15215	314	6	for	for	ADP
ajfa-15215	314	7	appropriate	appropriate	ADJ
ajfa-15215	314	8	portfolio	portfolio	NOUN
ajfa-15215	314	9	design	design	NOUN
ajfa-15215	314	10	.	.	PUNCT
ajfa-15215	315	1	countercyclical	countercyclical	ADJ
ajfa-15215	315	2	anomalies	anomaly	NOUN
ajfa-15215	315	3	can	can	AUX
ajfa-15215	315	4	pose	pose	VERB
ajfa-15215	315	5	higher	high	ADJ
ajfa-15215	315	6	challenges	challenge	NOUN
ajfa-15215	315	7	than	than	ADP
ajfa-15215	315	8	standalone	standalone	ADJ
ajfa-15215	315	9	anomalies	anomaly	NOUN
ajfa-15215	315	10	for	for	ADP
ajfa-15215	315	11	market	market	NOUN
ajfa-15215	315	12	regulators	regulator	NOUN
ajfa-15215	315	13	.	.	PUNCT
ajfa-15215	316	1	the	the	DET
ajfa-15215	316	2	study	study	NOUN
ajfa-15215	316	3	highlights	highlight	VERB
ajfa-15215	316	4	the	the	DET
ajfa-15215	316	5	problem	problem	NOUN
ajfa-15215	316	6	of	of	ADP
ajfa-15215	316	7	information	information	NOUN
ajfa-15215	316	8	inefficiency	inefficiency	NOUN
ajfa-15215	316	9	in	in	ADP
ajfa-15215	316	10	indian	indian	ADJ
ajfa-15215	316	11	securities	security	NOUN
ajfa-15215	316	12	market	market	NOUN
ajfa-15215	316	13	.	.	PUNCT
ajfa-15215	317	1	market	market	NOUN
ajfa-15215	317	2	regulators	regulator	NOUN
ajfa-15215	317	3	and	and	CCONJ
ajfa-15215	317	4	policy	policy	NOUN
ajfa-15215	317	5	makers	maker	NOUN
ajfa-15215	317	6	should	should	AUX
ajfa-15215	317	7	address	address	VERB
ajfa-15215	317	8	this	this	DET
ajfa-15215	317	9	problem	problem	NOUN
ajfa-15215	317	10	by	by	ADP
ajfa-15215	317	11	employing	employ	VERB
ajfa-15215	317	12	more	more	ADJ
ajfa-15215	317	13	efforts	effort	NOUN
ajfa-15215	317	14	to	to	PART
ajfa-15215	317	15	strengthen	strengthen	VERB
ajfa-15215	317	16	the	the	DET
ajfa-15215	317	17	corporate	corporate	ADJ
ajfa-15215	317	18	governance	governance	NOUN
ajfa-15215	317	19	norms	norm	NOUN
ajfa-15215	317	20	and	and	CCONJ
ajfa-15215	317	21	expanding	expand	VERB
ajfa-15215	317	22	the	the	DET
ajfa-15215	317	23	investor	investor	NOUN
ajfa-15215	317	24	base	base	NOUN
ajfa-15215	317	25	by	by	ADP
ajfa-15215	317	26	stronger	strong	ADJ
ajfa-15215	317	27	financial	financial	ADJ
ajfa-15215	317	28	inclusion	inclusion	NOUN
ajfa-15215	317	29	policies	policy	NOUN
ajfa-15215	317	30	.	.	PUNCT
ajfa-15215	318	1	the	the	DET
ajfa-15215	318	2	study	study	NOUN
ajfa-15215	318	3	contributes	contribute	VERB
ajfa-15215	318	4	to	to	ADP
ajfa-15215	318	5	academic	academic	ADJ
ajfa-15215	318	6	literature	literature	NOUN
ajfa-15215	318	7	as	as	ADP
ajfa-15215	318	8	value	value	NOUN
ajfa-15215	318	9	and	and	CCONJ
ajfa-15215	318	10	growth	growth	NOUN
ajfa-15215	318	11	have	have	AUX
ajfa-15215	318	12	been	be	AUX
ajfa-15215	318	13	identified	identify	VERB
ajfa-15215	318	14	as	as	ADP
ajfa-15215	318	15	separate	separate	ADJ
ajfa-15215	318	16	dimensions	dimension	NOUN
ajfa-15215	318	17	for	for	ADP
ajfa-15215	318	18	strategy	strategy	NOUN
ajfa-15215	318	19	design	design	NOUN
ajfa-15215	318	20	.	.	PUNCT
ajfa-15215	319	1	this	this	DET
ajfa-15215	319	2	work	work	NOUN
ajfa-15215	319	3	can	can	AUX
ajfa-15215	319	4	be	be	AUX
ajfa-15215	319	5	extended	extend	VERB
ajfa-15215	319	6	to	to	ADP
ajfa-15215	319	7	other	other	ADJ
ajfa-15215	319	8	countries	country	NOUN
ajfa-15215	319	9	.	.	PUNCT
ajfa-15215	320	1	table	table	NOUN
ajfa-15215	320	2	1	1	NUM
ajfa-15215	320	3	.	.	PUNCT
ajfa-15215	320	4	unadjusted	unadjuste	VERB
ajfa-15215	320	5	returns	return	NOUN
ajfa-15215	320	6	of	of	ADP
ajfa-15215	320	7	value	value	NOUN
ajfa-15215	320	8	sorted	sort	VERB
ajfa-15215	320	9	and	and	CCONJ
ajfa-15215	320	10	growth	growth	NOUN
ajfa-15215	320	11	sorted	sort	VERB
ajfa-15215	320	12	portfolios	portfolio	NOUN
ajfa-15215	320	13	(	(	PUNCT
ajfa-15215	320	14	univariate	univariate	ADJ
ajfa-15215	320	15	analysis	analysis	NOUN
ajfa-15215	320	16	)	)	PUNCT
ajfa-15215	320	17	panel	panel	NOUN
ajfa-15215	320	18	a	a	DET
ajfa-15215	320	19	:	:	PUNCT
ajfa-15215	320	20	value	value	NOUN
ajfa-15215	320	21	sorted	sort	VERB
ajfa-15215	320	22	portfolios	portfolio	NOUN
ajfa-15215	320	23	price	price	NOUN
ajfa-15215	320	24	-	-	PUNCT
ajfa-15215	320	25	to	to	ADP
ajfa-15215	320	26	-	-	PUNCT
ajfa-15215	320	27	earnings	earning	NOUN
ajfa-15215	320	28	based	base	VERB
ajfa-15215	320	29	portfolios	portfolio	NOUN
ajfa-15215	320	30	portfolios	portfolio	NOUN
ajfa-15215	320	31	pe1	pe1	PROPN
ajfa-15215	320	32	pe10	pe10	PROPN
ajfa-15215	320	33	pe1	pe1	PROPN
ajfa-15215	320	34	-	-	PUNCT
ajfa-15215	320	35	pe10	pe10	PROPN
ajfa-15215	320	36	mean	mean	VERB
ajfa-15215	320	37	0.0195	0.0195	NUM
ajfa-15215	320	38	0.0056	0.0056	NUM
ajfa-15215	320	39	0.0138	0.0138	NUM
ajfa-15215	320	40	t	t	PROPN
ajfa-15215	320	41	-	-	PUNCT
ajfa-15215	320	42	value	value	NOUN
ajfa-15215	320	43	2.2521	2.2521	NUM
ajfa-15215	320	44	0.6517	0.6517	NUM
ajfa-15215	320	45	4.2216	4.2216	NUM
ajfa-15215	320	46	price	price	NOUN
ajfa-15215	320	47	-	-	PUNCT
ajfa-15215	320	48	to	to	ADP
ajfa-15215	320	49	-	-	PUNCT
ajfa-15215	320	50	book	book	NOUN
ajfa-15215	320	51	based	base	VERB
ajfa-15215	320	52	portfolios	portfolio	NOUN
ajfa-15215	320	53	portfolios	portfolio	NOUN
ajfa-15215	320	54	pb1	pb1	VERB
ajfa-15215	320	55	pb10	pb10	PROPN
ajfa-15215	320	56	pb1	pb1	PROPN
ajfa-15215	320	57	-	-	PUNCT
ajfa-15215	320	58	pb10	pb10	PROPN
ajfa-15215	320	59	mean	mean	NOUN
ajfa-15215	320	60	0.0169	0.0169	NUM
ajfa-15215	320	61	0.0078	0.0078	NUM
ajfa-15215	320	62	0.0091	0.0091	NUM
ajfa-15215	320	63	t	t	PROPN
ajfa-15215	320	64	-	-	PUNCT
ajfa-15215	320	65	value	value	NOUN
ajfa-15215	320	66	1.7506	1.7506	NUM
ajfa-15215	320	67	1.2321	1.2321	NUM
ajfa-15215	320	68	1.4912	1.4912	NUM
ajfa-15215	320	69	asian	asian	ADJ
ajfa-15215	320	70	journal	journal	NOUN
ajfa-15215	320	71	of	of	ADP
ajfa-15215	320	72	finance	finance	PROPN
ajfa-15215	320	73	&	&	CCONJ
ajfa-15215	320	74	accounting	accounting	PROPN
ajfa-15215	320	75	issn	issn	PROPN
ajfa-15215	320	76	1946	1946	NUM
ajfa-15215	320	77	-	-	PUNCT
ajfa-15215	320	78	052x	052x	PROPN
ajfa-15215	320	79	2019	2019	NUM
ajfa-15215	320	80	,	,	PUNCT
ajfa-15215	320	81	vol	vol	NOUN
ajfa-15215	320	82	.	.	PROPN
ajfa-15215	320	83	11	11	NUM
ajfa-15215	320	84	,	,	PUNCT
ajfa-15215	320	85	no	no	INTJ
ajfa-15215	320	86	.	.	NOUN
ajfa-15215	320	87	2	2	NUM
ajfa-15215	320	88	ajfa.macrothink.org/	ajfa.macrothink.org/	PROPN
ajfa-15215	320	89	55	55	NUM
ajfa-15215	320	90	panel	panel	NOUN
ajfa-15215	320	91	b	b	NOUN
ajfa-15215	320	92	:	:	PUNCT
ajfa-15215	320	93	growth	growth	NOUN
ajfa-15215	320	94	sorted	sort	VERB
ajfa-15215	320	95	portfolios	portfolio	NOUN
ajfa-15215	320	96	net	net	ADJ
ajfa-15215	320	97	sales	sale	NOUN
ajfa-15215	320	98	simple	simple	ADJ
ajfa-15215	320	99	average	average	ADJ
ajfa-15215	320	100	growth	growth	NOUN
ajfa-15215	320	101	based	base	VERB
ajfa-15215	320	102	portfolios	portfolio	NOUN
ajfa-15215	320	103	portfolios	portfolio	NOUN
ajfa-15215	320	104	ns1sa	ns1sa	NUM
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ajfa-15215	320	106	ns10sa	ns10sa	PROPN
ajfa-15215	320	107	-	-	PUNCT
ajfa-15215	320	108	ns1sa	ns1sa	VERB
ajfa-15215	321	1	mean	mean	NOUN
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ajfa-15215	321	3	0.0148	0.0148	NUM
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ajfa-15215	321	5	t	t	PROPN
ajfa-15215	321	6	-	-	PUNCT
ajfa-15215	321	7	value	value	NOUN
ajfa-15215	321	8	1.4235	1.4235	NUM
ajfa-15215	321	9	1.6818	1.6818	NUM
ajfa-15215	321	10	1.0864	1.0864	NUM
ajfa-15215	321	11	net	net	ADJ
ajfa-15215	321	12	sales	sale	NOUN
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ajfa-15215	321	14	average	average	ADJ
ajfa-15215	321	15	growth	growth	NOUN
ajfa-15215	321	16	based	base	VERB
ajfa-15215	321	17	portfolios	portfolio	NOUN
ajfa-15215	321	18	portfolios	portfolio	NOUN
ajfa-15215	321	19	ns1wa	ns1wa	PRON
ajfa-15215	321	20	ns10wa	ns10wa	VERB
ajfa-15215	321	21	ns10wa	ns10wa	PROPN
ajfa-15215	321	22	-	-	PUNCT
ajfa-15215	321	23	ns1wa	ns1wa	PRON
ajfa-15215	321	24	mean	mean	NOUN
ajfa-15215	321	25	0.0113	0.0113	NUM
ajfa-15215	321	26	0.0143	0.0143	NUM
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ajfa-15215	321	33	0.9905	0.9905	NUM
ajfa-15215	321	34	net	net	ADJ
ajfa-15215	321	35	sales	sale	NOUN
ajfa-15215	321	36	compound	compound	VERB
ajfa-15215	321	37	annual	annual	ADJ
ajfa-15215	321	38	growth	growth	NOUN
ajfa-15215	321	39	based	base	VERB
ajfa-15215	321	40	portfolios	portfolio	NOUN
ajfa-15215	321	41	portfolios	portfolio	NOUN
ajfa-15215	321	42	ns1cagr	ns1cagr	VERB
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ajfa-15215	321	45	mean	mean	NOUN
ajfa-15215	321	46	0.0135	0.0135	NUM
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ajfa-15215	321	56	simple	simple	ADJ
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ajfa-15215	321	58	growth	growth	NOUN
ajfa-15215	321	59	based	base	VERB
ajfa-15215	321	60	portfolios	portfolio	NOUN
ajfa-15215	321	61	portfolios	portfolio	NOUN
ajfa-15215	321	62	e1sa	e1sa	PUNCT
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ajfa-15215	321	66	e1sa	e1sa	PUNCT
ajfa-15215	321	67	mean	mean	NOUN
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ajfa-15215	321	78	weighted	weight	VERB
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ajfa-15215	321	80	growth	growth	NOUN
ajfa-15215	321	81	based	base	VERB
ajfa-15215	321	82	portfolios	portfolio	NOUN
ajfa-15215	321	83	portfolios	portfolio	NOUN
ajfa-15215	321	84	e1wa	e1wa	ADP
ajfa-15215	321	85	e10wa	e10wa	NOUN
ajfa-15215	321	86	e10wa	e10wa	NOUN
ajfa-15215	321	87	-	-	PUNCT
ajfa-15215	321	88	e1wa	e1wa	NOUN
ajfa-15215	321	89	mean	mean	NOUN
ajfa-15215	322	1	0.0104	0.0104	NUM
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ajfa-15215	322	6	value	value	NOUN
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ajfa-15215	322	10	earnings	earning	NOUN
ajfa-15215	322	11	compound	compound	NOUN
ajfa-15215	322	12	annual	annual	ADJ
ajfa-15215	322	13	growth	growth	NOUN
ajfa-15215	322	14	based	base	VERB
ajfa-15215	322	15	portfolios	portfolio	NOUN
ajfa-15215	322	16	portfolios	portfolio	NOUN
ajfa-15215	322	17	e1cagr	e1cagr	NOUN
ajfa-15215	322	18	e10cagr	e10cagr	PROPN
ajfa-15215	322	19	e10cagr	e10cagr	NOUN
ajfa-15215	322	20	-	-	PUNCT
ajfa-15215	322	21	e1cagr	e1cagr	NOUN
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ajfa-15215	322	27	journal	journal	NOUN
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ajfa-15215	322	31	accounting	accounting	PROPN
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ajfa-15215	322	34	-	-	PUNCT
ajfa-15215	322	35	052x	052x	PROPN
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ajfa-15215	322	37	,	,	PUNCT
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ajfa-15215	322	44	2	2	NUM
ajfa-15215	322	45	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
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ajfa-15215	322	56	shows	show	NOUN
ajfa-15215	322	57	mean	mean	VERB
ajfa-15215	322	58	excess	excess	ADJ
ajfa-15215	322	59	returns	return	NOUN
ajfa-15215	322	60	for	for	ADP
ajfa-15215	322	61	value	value	NOUN
ajfa-15215	322	62	and	and	CCONJ
ajfa-15215	322	63	growth	growth	NOUN
ajfa-15215	322	64	sorted	sort	VERB
ajfa-15215	322	65	univariate	univariate	ADJ
ajfa-15215	322	66	portfolios	portfolio	NOUN
ajfa-15215	322	67	.	.	PUNCT
ajfa-15215	323	1	all	all	DET
ajfa-15215	323	2	returns	return	NOUN
ajfa-15215	323	3	are	be	AUX
ajfa-15215	323	4	tested	test	VERB
ajfa-15215	323	5	for	for	ADP
ajfa-15215	323	6	significance	significance	NOUN
ajfa-15215	323	7	at	at	ADP
ajfa-15215	323	8	5	5	NUM
ajfa-15215	323	9	%	%	NOUN
ajfa-15215	323	10	level	level	NOUN
ajfa-15215	323	11	on	on	ADP
ajfa-15215	323	12	two	two	NUM
ajfa-15215	323	13	tailed	tailed	ADJ
ajfa-15215	323	14	basis	basis	NOUN
ajfa-15215	323	15	.	.	PUNCT
ajfa-15215	324	1	figure	figure	NOUN
ajfa-15215	324	2	1	1	NUM
ajfa-15215	324	3	.	.	PUNCT
ajfa-15215	324	4	correlation	correlation	NOUN
ajfa-15215	324	5	between	between	ADP
ajfa-15215	324	6	value	value	NOUN
ajfa-15215	324	7	and	and	CCONJ
ajfa-15215	324	8	growth	growth	NOUN
ajfa-15215	324	9	based	base	VERB
ajfa-15215	324	10	strategy	strategy	NOUN
ajfa-15215	324	11	the	the	DET
ajfa-15215	324	12	above	above	ADJ
ajfa-15215	324	13	figure	figure	NOUN
ajfa-15215	324	14	represents	represent	VERB
ajfa-15215	324	15	correlation	correlation	NOUN
ajfa-15215	324	16	between	between	ADP
ajfa-15215	324	17	return	return	NOUN
ajfa-15215	324	18	premiums	premium	NOUN
ajfa-15215	324	19	of	of	ADP
ajfa-15215	324	20	price	price	NOUN
ajfa-15215	324	21	-	-	PUNCT
ajfa-15215	324	22	to	to	ADP
ajfa-15215	324	23	-	-	PUNCT
ajfa-15215	324	24	earnings	earning	NOUN
ajfa-15215	324	25	based	base	VERB
ajfa-15215	324	26	value	value	NOUN
ajfa-15215	324	27	strategy	strategy	NOUN
ajfa-15215	324	28	and	and	CCONJ
ajfa-15215	324	29	earnings	earning	NOUN
ajfa-15215	324	30	simple	simple	ADJ
ajfa-15215	324	31	average	average	ADJ
ajfa-15215	324	32	growth	growth	NOUN
ajfa-15215	324	33	based	base	VERB
ajfa-15215	324	34	strategy	strategy	NOUN
ajfa-15215	324	35	.	.	PUNCT
ajfa-15215	325	1	note	note	NOUN
ajfa-15215	325	2	:	:	PUNCT
ajfa-15215	325	3	mean	mean	VERB
ajfa-15215	325	4	correlation	correlation	NOUN
ajfa-15215	325	5	between	between	ADP
ajfa-15215	325	6	return	return	NOUN
ajfa-15215	325	7	premiums	premium	NOUN
ajfa-15215	325	8	of	of	ADP
ajfa-15215	325	9	price	price	NOUN
ajfa-15215	325	10	-	-	PUNCT
ajfa-15215	325	11	to	to	ADP
ajfa-15215	325	12	-	-	PUNCT
ajfa-15215	325	13	earnings	earning	NOUN
ajfa-15215	325	14	based	base	VERB
ajfa-15215	325	15	strategy	strategy	NOUN
ajfa-15215	325	16	and	and	CCONJ
ajfa-15215	325	17	simple	simple	ADJ
ajfa-15215	325	18	average	average	ADJ
ajfa-15215	325	19	earnings	earning	NOUN
ajfa-15215	325	20	growth	growth	NOUN
ajfa-15215	325	21	based	base	VERB
ajfa-15215	325	22	strategy	strategy	NOUN
ajfa-15215	325	23	=	=	SYM
ajfa-15215	325	24	-0.214	-0.214	PUNCT
ajfa-15215	325	25	table	table	NOUN
ajfa-15215	325	26	2	2	NUM
ajfa-15215	325	27	.	.	PUNCT
ajfa-15215	325	28	unadjusted	unadjuste	VERB
ajfa-15215	325	29	returns	return	NOUN
ajfa-15215	325	30	of	of	ADP
ajfa-15215	325	31	bivariate	bivariate	ADJ
ajfa-15215	325	32	value	value	NOUN
ajfa-15215	325	33	and	and	CCONJ
ajfa-15215	326	1	growth	growth	NOUN
ajfa-15215	326	2	based	base	VERB
ajfa-15215	326	3	portfolios	portfolio	NOUN
ajfa-15215	326	4	panel	panel	VERB
ajfa-15215	326	5	a	a	DET
ajfa-15215	326	6	:	:	PUNCT
ajfa-15215	326	7	bivariate	bivariate	ADJ
ajfa-15215	326	8	growth	growth	NOUN
ajfa-15215	326	9	and	and	CCONJ
ajfa-15215	326	10	value	value	NOUN
ajfa-15215	326	11	based	base	VERB
ajfa-15215	326	12	portfolios	portfolio	NOUN
ajfa-15215	326	13	(	(	PUNCT
ajfa-15215	326	14	independent	independent	ADJ
ajfa-15215	326	15	sorted	sorted	ADJ
ajfa-15215	326	16	)	)	PUNCT
ajfa-15215	326	17	portfolios	portfolio	NOUN
ajfa-15215	326	18	pe1e3	pe1e3	VERB
ajfa-15215	326	19	pe3e1	pe3e1	PROPN
ajfa-15215	326	20	pe1e3	pe1e3	PROPN
ajfa-15215	326	21	-	-	PUNCT
ajfa-15215	326	22	pe3e1	pe3e1	NOUN
ajfa-15215	326	23	mean	mean	VERB
ajfa-15215	326	24	0.0243	0.0243	NUM
ajfa-15215	326	25	0.0082	0.0082	NUM
ajfa-15215	326	26	0.0161	0.0161	NUM
ajfa-15215	326	27	t	t	NOUN
ajfa-15215	326	28	-	-	PUNCT
ajfa-15215	326	29	value	value	NOUN
ajfa-15215	326	30	2.8805	2.8805	NUM
ajfa-15215	326	31	1.1029	1.1029	NUM
ajfa-15215	326	32	4.8003	4.8003	NUM
ajfa-15215	326	33	panel	panel	NOUN
ajfa-15215	326	34	b	b	NOUN
ajfa-15215	326	35	:	:	PUNCT
ajfa-15215	326	36	bivariate	bivariate	ADJ
ajfa-15215	326	37	growth	growth	NOUN
ajfa-15215	326	38	and	and	CCONJ
ajfa-15215	326	39	value	value	NOUN
ajfa-15215	326	40	based	base	VERB
ajfa-15215	326	41	portfolios	portfolio	NOUN
ajfa-15215	326	42	(	(	PUNCT
ajfa-15215	326	43	conditional	conditional	ADJ
ajfa-15215	326	44	i	i	PRON
ajfa-15215	326	45	sorted	sort	VERB
ajfa-15215	326	46	)	)	PUNCT
ajfa-15215	326	47	portfolios	portfolio	NOUN
ajfa-15215	326	48	pe1e3	pe1e3	VERB
ajfa-15215	326	49	pe3e1	pe3e1	PROPN
ajfa-15215	326	50	pe1e3	pe1e3	PROPN
ajfa-15215	326	51	-	-	PUNCT
ajfa-15215	326	52	pe3e1	pe3e1	PROPN
ajfa-15215	326	53	mean	mean	NOUN
ajfa-15215	326	54	0.0237	0.0237	NUM
ajfa-15215	326	55	0.0078	0.0078	NUM
ajfa-15215	326	56	0.0159	0.0159	NUM
ajfa-15215	326	57	t	t	NOUN
ajfa-15215	326	58	-	-	PUNCT
ajfa-15215	326	59	value	value	NOUN
ajfa-15215	326	60	2.7813	2.7813	NUM
ajfa-15215	326	61	1.0534	1.0534	NUM
ajfa-15215	326	62	4.7689	4.7689	NUM
ajfa-15215	326	63	-0.15	-0.15	NUM
ajfa-15215	326	64	-0.1	-0.1	PROPN
ajfa-15215	326	65	-0.05	-0.05	NOUN
ajfa-15215	326	66	0	0	NUM
ajfa-15215	326	67	0.05	0.05	NUM
ajfa-15215	326	68	0.1	0.1	NUM
ajfa-15215	326	69	0.15	0.15	NUM
ajfa-15215	326	70	20	20	NUM
ajfa-15215	326	71	07	07	NUM
ajfa-15215	326	72	年	年	PRON
ajfa-15215	326	73	1月	1月	NOUN
ajfa-15215	326	74	1日	1日	NUM
ajfa-15215	326	75	20	20	NUM
ajfa-15215	326	76	07	07	NUM
ajfa-15215	326	77	年	年	PRON
ajfa-15215	326	78	7月	7月	NOUN
ajfa-15215	326	79	1日	1日	NUM
ajfa-15215	326	80	20	20	NUM
ajfa-15215	326	81	08	08	NUM
ajfa-15215	326	82	年	年	PRON
ajfa-15215	326	83	1月	1月	NOUN
ajfa-15215	326	84	1日	1日	NUM
ajfa-15215	326	85	20	20	NUM
ajfa-15215	326	86	08	08	NUM
ajfa-15215	326	87	年	年	PRON
ajfa-15215	326	88	7月	7月	NOUN
ajfa-15215	326	89	1日	1日	NUM
ajfa-15215	326	90	20	20	NUM
ajfa-15215	326	91	09	09	NUM
ajfa-15215	326	92	年	年	PRON
ajfa-15215	326	93	1月	1月	NOUN
ajfa-15215	326	94	1日	1日	NUM
ajfa-15215	326	95	20	20	NUM
ajfa-15215	326	96	09	09	NUM
ajfa-15215	326	97	年	年	PRON
ajfa-15215	326	98	7月	7月	NUM
ajfa-15215	326	99	1日	1日	NUM
ajfa-15215	326	100	20	20	NUM
ajfa-15215	326	101	10	10	NUM
ajfa-15215	326	102	年	年	PRON
ajfa-15215	326	103	1月	1月	NOUN
ajfa-15215	326	104	1日	1日	NUM
ajfa-15215	326	105	20	20	NUM
ajfa-15215	326	106	10	10	NUM
ajfa-15215	326	107	年	年	PRON
ajfa-15215	326	108	7月	7月	NUM
ajfa-15215	326	109	1日	1日	NUM
ajfa-15215	326	110	20	20	NUM
ajfa-15215	326	111	11	11	NUM
ajfa-15215	326	112	年	年	PRON
ajfa-15215	326	113	1月	1月	NOUN
ajfa-15215	326	114	1日	1日	NUM
ajfa-15215	326	115	20	20	NUM
ajfa-15215	326	116	11	11	NUM
ajfa-15215	326	117	年	年	PRON
ajfa-15215	326	118	7月	7月	NOUN
ajfa-15215	326	119	1日	1日	NUM
ajfa-15215	326	120	20	20	NUM
ajfa-15215	326	121	12	12	NUM
ajfa-15215	326	122	年	年	PRON
ajfa-15215	326	123	1月	1月	NOUN
ajfa-15215	326	124	1日	1日	NUM
ajfa-15215	326	125	20	20	NUM
ajfa-15215	326	126	12	12	NUM
ajfa-15215	326	127	年	年	PRON
ajfa-15215	326	128	7月	7月	NUM
ajfa-15215	326	129	1日	1日	NUM
ajfa-15215	326	130	20	20	NUM
ajfa-15215	326	131	13	13	NUM
ajfa-15215	326	132	年	年	PRON
ajfa-15215	326	133	1月	1月	NOUN
ajfa-15215	326	134	1日	1日	NUM
ajfa-15215	326	135	20	20	NUM
ajfa-15215	326	136	13	13	NUM
ajfa-15215	326	137	年	年	PRON
ajfa-15215	326	138	7月	7月	NOUN
ajfa-15215	326	139	1日	1日	NUM
ajfa-15215	326	140	20	20	NUM
ajfa-15215	326	141	14	14	NUM
ajfa-15215	326	142	年	年	PROPN
ajfa-15215	326	143	1月	1月	NOUN
ajfa-15215	326	144	1日	1日	NUM
ajfa-15215	326	145	20	20	NUM
ajfa-15215	326	146	14	14	NUM
ajfa-15215	326	147	年	年	PRON
ajfa-15215	326	148	7月	7月	NUM
ajfa-15215	326	149	1日	1日	NUM
ajfa-15215	326	150	20	20	NUM
ajfa-15215	326	151	15	15	NUM
ajfa-15215	326	152	年	年	PRON
ajfa-15215	326	153	1月	1月	NOUN
ajfa-15215	326	154	1日	1日	NUM
ajfa-15215	326	155	20	20	NUM
ajfa-15215	326	156	15	15	NUM
ajfa-15215	326	157	年	年	PRON
ajfa-15215	326	158	7月	7月	NUM
ajfa-15215	326	159	1日	1日	NUM
ajfa-15215	326	160	20	20	NUM
ajfa-15215	326	161	16	16	NUM
ajfa-15215	326	162	年	年	PRON
ajfa-15215	326	163	1月	1月	NOUN
ajfa-15215	326	164	1日	1日	NUM
ajfa-15215	326	165	20	20	NUM
ajfa-15215	326	166	16	16	NUM
ajfa-15215	326	167	年	年	PRON
ajfa-15215	326	168	7月	7月	NUM
ajfa-15215	326	169	1日	1日	NUM
ajfa-15215	326	170	20	20	NUM
ajfa-15215	326	171	17	17	NUM
ajfa-15215	326	172	年	年	PRON
ajfa-15215	326	173	1月	1月	NOUN
ajfa-15215	326	174	1日	1日	NUM
ajfa-15215	326	175	20	20	NUM
ajfa-15215	326	176	17	17	NUM
ajfa-15215	326	177	年	年	PRON
ajfa-15215	326	178	7月	7月	NUM
ajfa-15215	326	179	1日	1日	NUM
ajfa-15215	326	180	re	re	VERB
ajfa-15215	326	181	tu	tu	PROPN
ajfa-15215	326	182	rn	rn	PROPN
ajfa-15215	326	183	p	p	PROPN
ajfa-15215	326	184	re	re	VERB
ajfa-15215	326	185	m	m	PROPN
ajfa-15215	326	186	iu	iu	ADP
ajfa-15215	326	187	m	m	PROPN
ajfa-15215	326	188	s	s	ADP
ajfa-15215	326	189	of	of	ADP
ajfa-15215	326	190	v	v	PROPN
ajfa-15215	326	191	al	al	PROPN
ajfa-15215	326	192	ue	ue	PROPN
ajfa-15215	326	193	a	a	DET
ajfa-15215	326	194	nd	nd	NOUN
ajfa-15215	326	195	g	g	PROPN
ajfa-15215	326	196	ro	ro	PROPN
ajfa-15215	326	197	w	w	PROPN
ajfa-15215	326	198	th	th	X
ajfa-15215	326	199	ba	ba	PROPN
ajfa-15215	326	200	se	se	PROPN
ajfa-15215	326	201	d	d	PROPN
ajfa-15215	326	202	st	st	PROPN
ajfa-15215	326	203	ra	ra	PROPN
ajfa-15215	326	204	te	te	INTJ
ajfa-15215	326	205	gi	gi	NOUN
ajfa-15215	326	206	es	es	NOUN
ajfa-15215	326	207	time	time	NOUN
ajfa-15215	326	208	period	period	NOUN
ajfa-15215	326	209	pe1	pe1	PROPN
ajfa-15215	326	210	-	-	PUNCT
ajfa-15215	326	211	pe10	pe10	PROPN
ajfa-15215	326	212	e10(sa)-e1(sa	e10(sa)-e1(sa	NOUN
ajfa-15215	326	213	)	)	PUNCT
ajfa-15215	326	214	asian	asian	ADJ
ajfa-15215	326	215	journal	journal	NOUN
ajfa-15215	326	216	of	of	ADP
ajfa-15215	326	217	finance	finance	PROPN
ajfa-15215	326	218	&	&	CCONJ
ajfa-15215	326	219	accounting	accounting	PROPN
ajfa-15215	326	220	issn	issn	PROPN
ajfa-15215	326	221	1946	1946	NUM
ajfa-15215	326	222	-	-	PUNCT
ajfa-15215	326	223	052x	052x	PROPN
ajfa-15215	326	224	2019	2019	NUM
ajfa-15215	326	225	,	,	PUNCT
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ajfa-15215	326	227	.	.	PROPN
ajfa-15215	326	228	11	11	NUM
ajfa-15215	326	229	,	,	PUNCT
ajfa-15215	326	230	no	no	INTJ
ajfa-15215	326	231	.	.	NOUN
ajfa-15215	326	232	2	2	NUM
ajfa-15215	326	233	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	326	234	57	57	NUM
ajfa-15215	326	235	panel	panel	NOUN
ajfa-15215	326	236	c	c	NOUN
ajfa-15215	326	237	:	:	PUNCT
ajfa-15215	326	238	bivariate	bivariate	ADJ
ajfa-15215	326	239	growth	growth	NOUN
ajfa-15215	326	240	and	and	CCONJ
ajfa-15215	326	241	value	value	NOUN
ajfa-15215	326	242	based	base	VERB
ajfa-15215	326	243	portfolios	portfolio	NOUN
ajfa-15215	326	244	(	(	PUNCT
ajfa-15215	326	245	conditional	conditional	ADJ
ajfa-15215	326	246	ii	ii	NOUN
ajfa-15215	326	247	sorted	sort	VERB
ajfa-15215	326	248	)	)	PUNCT
ajfa-15215	326	249	portfolios	portfolio	NOUN
ajfa-15215	326	250	e3pe1	e3pe1	NOUN
ajfa-15215	326	251	e1pe3	e1pe3	PROPN
ajfa-15215	326	252	e3pe1	e3pe1	NOUN
ajfa-15215	326	253	-	-	PUNCT
ajfa-15215	326	254	e1pe3	e1pe3	NOUN
ajfa-15215	326	255	mean	mean	NOUN
ajfa-15215	327	1	0.0239	0.0239	NUM
ajfa-15215	327	2	0.0083	0.0083	NUM
ajfa-15215	327	3	0.0156	0.0156	NUM
ajfa-15215	327	4	t	t	PROPN
ajfa-15215	327	5	-	-	PUNCT
ajfa-15215	327	6	value	value	NOUN
ajfa-15215	327	7	2.8069	2.8069	NUM
ajfa-15215	327	8	1.1516	1.1516	NUM
ajfa-15215	327	9	4.6698	4.6698	NUM
ajfa-15215	327	10	the	the	DET
ajfa-15215	327	11	above	above	ADJ
ajfa-15215	327	12	table	table	NOUN
ajfa-15215	327	13	shows	show	NOUN
ajfa-15215	327	14	mean	mean	VERB
ajfa-15215	327	15	excess	excess	ADJ
ajfa-15215	327	16	returns	return	NOUN
ajfa-15215	327	17	for	for	ADP
ajfa-15215	327	18	value	value	NOUN
ajfa-15215	327	19	and	and	CCONJ
ajfa-15215	327	20	growth	growth	NOUN
ajfa-15215	327	21	based	base	VERB
ajfa-15215	327	22	bivariate	bivariate	ADJ
ajfa-15215	327	23	portfolios	portfolio	NOUN
ajfa-15215	327	24	.	.	PUNCT
ajfa-15215	328	1	three	three	NUM
ajfa-15215	328	2	types	type	NOUN
ajfa-15215	328	3	of	of	ADP
ajfa-15215	328	4	bivariate	bivariate	ADJ
ajfa-15215	328	5	sorted	sorted	ADJ
ajfa-15215	328	6	strategiesindependent	strategiesindependent	NOUN
ajfa-15215	328	7	,	,	PUNCT
ajfa-15215	328	8	conditional	conditional	ADJ
ajfa-15215	328	9	i	i	PROPN
ajfa-15215	328	10	and	and	CCONJ
ajfa-15215	328	11	conditional	conditional	PROPN
ajfa-15215	328	12	ii	ii	PROPN
ajfa-15215	328	13	are	be	AUX
ajfa-15215	328	14	used	use	VERB
ajfa-15215	328	15	.	.	PUNCT
ajfa-15215	329	1	in	in	ADP
ajfa-15215	329	2	independent	independent	ADJ
ajfa-15215	329	3	sorted	sorted	ADJ
ajfa-15215	329	4	strategy	strategy	NOUN
ajfa-15215	329	5	,	,	PUNCT
ajfa-15215	329	6	securities	security	NOUN
ajfa-15215	329	7	are	be	AUX
ajfa-15215	329	8	first	first	ADV
ajfa-15215	329	9	ranked	rank	VERB
ajfa-15215	329	10	on	on	ADP
ajfa-15215	329	11	the	the	DET
ajfa-15215	329	12	basis	basis	NOUN
ajfa-15215	329	13	of	of	ADP
ajfa-15215	329	14	p	p	PROPN
ajfa-15215	329	15	/	/	SYM
ajfa-15215	329	16	e	e	NOUN
ajfa-15215	329	17	ratios	ratio	NOUN
ajfa-15215	329	18	into	into	ADP
ajfa-15215	329	19	3	3	NUM
ajfa-15215	329	20	equally	equally	ADV
ajfa-15215	329	21	weighted	weight	VERB
ajfa-15215	329	22	portfolios	portfolio	NOUN
ajfa-15215	329	23	.	.	PUNCT
ajfa-15215	330	1	then	then	ADV
ajfa-15215	330	2	securities	security	NOUN
ajfa-15215	330	3	are	be	AUX
ajfa-15215	330	4	independently	independently	ADV
ajfa-15215	330	5	sorted	sort	VERB
ajfa-15215	330	6	on	on	ADP
ajfa-15215	330	7	the	the	DET
ajfa-15215	330	8	basis	basis	NOUN
ajfa-15215	330	9	of	of	ADP
ajfa-15215	330	10	earnings	earning	NOUN
ajfa-15215	330	11	growth	growth	NOUN
ajfa-15215	330	12	into	into	ADP
ajfa-15215	330	13	3	3	NUM
ajfa-15215	330	14	equally	equally	ADV
ajfa-15215	330	15	weighted	weight	VERB
ajfa-15215	330	16	portfolios	portfolio	NOUN
ajfa-15215	330	17	.	.	PUNCT
ajfa-15215	331	1	in	in	ADP
ajfa-15215	331	2	conditional	conditional	ADJ
ajfa-15215	331	3	i	i	PROPN
ajfa-15215	331	4	(	(	PUNCT
ajfa-15215	331	5	value	value	NOUN
ajfa-15215	331	6	-	-	PUNCT
ajfa-15215	331	7	growth	growth	NOUN
ajfa-15215	331	8	)	)	PUNCT
ajfa-15215	331	9	strategy	strategy	NOUN
ajfa-15215	331	10	,	,	PUNCT
ajfa-15215	331	11	securities	security	NOUN
ajfa-15215	331	12	are	be	AUX
ajfa-15215	331	13	sorted	sort	VERB
ajfa-15215	331	14	in	in	ADP
ajfa-15215	331	15	ascending	ascend	VERB
ajfa-15215	331	16	order	order	NOUN
ajfa-15215	331	17	into	into	ADP
ajfa-15215	331	18	3	3	NUM
ajfa-15215	331	19	equally	equally	ADV
ajfa-15215	331	20	weighted	weight	VERB
ajfa-15215	331	21	portfolios	portfolio	NOUN
ajfa-15215	331	22	on	on	ADP
ajfa-15215	331	23	the	the	DET
ajfa-15215	331	24	basis	basis	NOUN
ajfa-15215	331	25	of	of	ADP
ajfa-15215	331	26	p	p	PROPN
ajfa-15215	331	27	/	/	SYM
ajfa-15215	331	28	e	e	NOUN
ajfa-15215	331	29	ratios	ratio	NOUN
ajfa-15215	331	30	.	.	PUNCT
ajfa-15215	332	1	within	within	ADP
ajfa-15215	332	2	these	these	DET
ajfa-15215	332	3	groups	group	NOUN
ajfa-15215	332	4	,	,	PUNCT
ajfa-15215	332	5	stocks	stock	NOUN
ajfa-15215	332	6	are	be	AUX
ajfa-15215	332	7	further	far	ADV
ajfa-15215	332	8	sorted	sort	VERB
ajfa-15215	332	9	into	into	ADP
ajfa-15215	332	10	3	3	NUM
ajfa-15215	332	11	equally	equally	ADV
ajfa-15215	332	12	weighted	weight	VERB
ajfa-15215	332	13	portfolios	portfolio	NOUN
ajfa-15215	332	14	on	on	ADP
ajfa-15215	332	15	the	the	DET
ajfa-15215	332	16	basis	basis	NOUN
ajfa-15215	332	17	of	of	ADP
ajfa-15215	332	18	earnings	earning	NOUN
ajfa-15215	332	19	growth	growth	NOUN
ajfa-15215	332	20	.	.	PUNCT
ajfa-15215	333	1	in	in	ADP
ajfa-15215	333	2	the	the	DET
ajfa-15215	333	3	conditional	conditional	ADJ
ajfa-15215	333	4	ii	ii	PROPN
ajfa-15215	333	5	(	(	PUNCT
ajfa-15215	333	6	growth	growth	NOUN
ajfa-15215	333	7	-	-	PUNCT
ajfa-15215	333	8	value	value	NOUN
ajfa-15215	333	9	)	)	PUNCT
ajfa-15215	333	10	strategy	strategy	NOUN
ajfa-15215	333	11	,	,	PUNCT
ajfa-15215	333	12	the	the	DET
ajfa-15215	333	13	process	process	NOUN
ajfa-15215	333	14	is	be	AUX
ajfa-15215	333	15	reversed	reverse	VERB
ajfa-15215	333	16	.	.	PUNCT
ajfa-15215	334	1	stocks	stock	NOUN
ajfa-15215	334	2	are	be	AUX
ajfa-15215	334	3	first	first	ADV
ajfa-15215	334	4	sorted	sort	VERB
ajfa-15215	334	5	on	on	ADP
ajfa-15215	334	6	the	the	DET
ajfa-15215	334	7	basis	basis	NOUN
ajfa-15215	334	8	of	of	ADP
ajfa-15215	334	9	earnings	earning	NOUN
ajfa-15215	334	10	growth	growth	NOUN
ajfa-15215	334	11	,	,	PUNCT
ajfa-15215	334	12	then	then	ADV
ajfa-15215	334	13	on	on	ADP
ajfa-15215	334	14	the	the	DET
ajfa-15215	334	15	basis	basis	NOUN
ajfa-15215	334	16	of	of	ADP
ajfa-15215	334	17	p	p	X
ajfa-15215	334	18	/	/	SYM
ajfa-15215	334	19	e	e	NOUN
ajfa-15215	334	20	ratio	ratio	NOUN
ajfa-15215	334	21	.	.	PUNCT
ajfa-15215	335	1	all	all	DET
ajfa-15215	335	2	returns	return	NOUN
ajfa-15215	335	3	are	be	AUX
ajfa-15215	335	4	tested	test	VERB
ajfa-15215	335	5	for	for	ADP
ajfa-15215	335	6	significance	significance	NOUN
ajfa-15215	335	7	at	at	ADP
ajfa-15215	335	8	5	5	NUM
ajfa-15215	335	9	%	%	NOUN
ajfa-15215	335	10	level	level	NOUN
ajfa-15215	335	11	on	on	ADP
ajfa-15215	335	12	two	two	NUM
ajfa-15215	335	13	tailed	tailed	ADJ
ajfa-15215	335	14	basis	basis	NOUN
ajfa-15215	335	15	.	.	PUNCT
ajfa-15215	336	1	table	table	NOUN
ajfa-15215	336	2	3	3	NUM
ajfa-15215	336	3	:	:	PUNCT
ajfa-15215	336	4	capital	capital	NOUN
ajfa-15215	336	5	asset	asset	NOUN
ajfa-15215	336	6	pricing	pricing	NOUN
ajfa-15215	336	7	model	model	NOUN
ajfa-15215	336	8	based	base	VERB
ajfa-15215	336	9	results	result	NOUN
ajfa-15215	336	10	panel	panel	NOUN
ajfa-15215	336	11	a	a	DET
ajfa-15215	336	12	:	:	PUNCT
ajfa-15215	336	13	univariate	univariate	ADJ
ajfa-15215	336	14	sorted	sorted	ADJ
ajfa-15215	336	15	portfolios	portfolio	NOUN
ajfa-15215	336	16	price	price	NOUN
ajfa-15215	336	17	-	-	PUNCT
ajfa-15215	336	18	to	to	ADP
ajfa-15215	336	19	-	-	PUNCT
ajfa-15215	336	20	earnings	earning	NOUN
ajfa-15215	336	21	based	base	VERB
ajfa-15215	336	22	portfolios	portfolio	NOUN
ajfa-15215	336	23	portfolios	portfolio	NOUN
ajfa-15215	336	24	pe1	pe1	PROPN
ajfa-15215	336	25	pe10	pe10	PROPN
ajfa-15215	336	26	a	a	DET
ajfa-15215	336	27	0.0208	0.0208	NUM
ajfa-15215	336	28	-0.0053	-0.0053	ADJ
ajfa-15215	336	29	t	t	NOUN
ajfa-15215	336	30	-	-	PUNCT
ajfa-15215	336	31	value	value	NOUN
ajfa-15215	336	32	2.6289	2.6289	NUM
ajfa-15215	336	33	-0.9139	-0.9139	NOUN
ajfa-15215	336	34	b	b	PROPN
ajfa-15215	336	35	1.2713	1.2713	NUM
ajfa-15215	336	36	1.3345	1.3345	NUM
ajfa-15215	336	37	t	t	NOUN
ajfa-15215	336	38	-	-	PUNCT
ajfa-15215	336	39	value	value	NOUN
ajfa-15215	336	40	25.1149	25.1149	NUM
ajfa-15215	336	41	35.9718	35.9718	NUM
ajfa-15215	336	42	d	d	NOUN
ajfa-15215	336	43	-0.0091	-0.0091	NOUN
ajfa-15215	336	44	0.0061	0.0061	NUM
ajfa-15215	336	45	t	t	PROPN
ajfa-15215	336	46	-	-	PUNCT
ajfa-15215	336	47	value	value	NOUN
ajfa-15215	336	48	-1.0236	-1.0236	NOUN
ajfa-15215	336	49	0.9303	0.9303	NUM
ajfa-15215	336	50	adjusted	adjusted	ADJ
ajfa-15215	336	51	r	r	NOUN
ajfa-15215	336	52	-	-	PUNCT
ajfa-15215	336	53	squared	square	VERB
ajfa-15215	336	54	0.8277	0.8277	NUM
ajfa-15215	336	55	0.9080	0.9080	NUM
ajfa-15215	336	56	earnings	earning	NOUN
ajfa-15215	336	57	growth	growth	NOUN
ajfa-15215	336	58	based	base	VERB
ajfa-15215	336	59	portfolios	portfolio	NOUN
ajfa-15215	336	60	asian	asian	ADJ
ajfa-15215	336	61	journal	journal	NOUN
ajfa-15215	336	62	of	of	ADP
ajfa-15215	336	63	finance	finance	PROPN
ajfa-15215	336	64	&	&	CCONJ
ajfa-15215	336	65	accounting	accounting	PROPN
ajfa-15215	336	66	issn	issn	PROPN
ajfa-15215	336	67	1946	1946	NUM
ajfa-15215	336	68	-	-	PUNCT
ajfa-15215	336	69	052x	052x	PROPN
ajfa-15215	336	70	2019	2019	NUM
ajfa-15215	336	71	,	,	PUNCT
ajfa-15215	336	72	vol	vol	NOUN
ajfa-15215	336	73	.	.	PROPN
ajfa-15215	336	74	11	11	NUM
ajfa-15215	336	75	,	,	PUNCT
ajfa-15215	336	76	no	no	INTJ
ajfa-15215	336	77	.	.	NOUN
ajfa-15215	336	78	2	2	NUM
ajfa-15215	336	79	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	336	80	58	58	NUM
ajfa-15215	336	81	portfolios	portfolio	NOUN
ajfa-15215	336	82	e1	e1	VERB
ajfa-15215	336	83	e10	e10	NOUN
ajfa-15215	336	84	a	a	DET
ajfa-15215	336	85	0.0057	0.0057	NUM
ajfa-15215	336	86	0.0081	0.0081	NUM
ajfa-15215	336	87	t	t	NOUN
ajfa-15215	336	88	-	-	PUNCT
ajfa-15215	336	89	value	value	NOUN
ajfa-15215	336	90	0.7739	0.7739	NUM
ajfa-15215	336	91	1.2799	1.2799	NUM
ajfa-15215	336	92	b	b	NOUN
ajfa-15215	336	93	1.2162	1.2162	NUM
ajfa-15215	336	94	1.3812	1.3812	NUM
ajfa-15215	336	95	t	t	NOUN
ajfa-15215	336	96	-	-	PUNCT
ajfa-15215	336	97	value	value	NOUN
ajfa-15215	336	98	26.0631	26.0631	NUM
ajfa-15215	336	99	34.2566	34.2566	NUM
ajfa-15215	336	100	d	d	NOUN
ajfa-15215	336	101	-0.0036	-0.0036	NOUN
ajfa-15215	336	102	0.0014	0.0014	NUM
ajfa-15215	336	103	t	t	NOUN
ajfa-15215	336	104	-	-	PUNCT
ajfa-15215	336	105	value	value	NOUN
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ajfa-15215	336	107	0.1964	0.1964	NUM
ajfa-15215	336	108	adjusted	adjust	VERB
ajfa-15215	336	109	rsquared	rsquare	VERB
ajfa-15215	336	110	0.8379	0.8379	NUM
ajfa-15215	336	111	0.8994	0.8994	NUM
ajfa-15215	336	112	panel	panel	NOUN
ajfa-15215	336	113	b	b	NOUN
ajfa-15215	336	114	:	:	PUNCT
ajfa-15215	336	115	bivariate	bivariate	ADJ
ajfa-15215	336	116	sorted	sort	VERB
ajfa-15215	336	117	portfolios	portfolio	NOUN
ajfa-15215	336	118	bivariate	bivariate	VERB
ajfa-15215	336	119	growth	growth	NOUN
ajfa-15215	336	120	and	and	CCONJ
ajfa-15215	336	121	value	value	NOUN
ajfa-15215	336	122	based	base	VERB
ajfa-15215	336	123	portfolios	portfolio	NOUN
ajfa-15215	336	124	(	(	PUNCT
ajfa-15215	336	125	independent	independent	ADJ
ajfa-15215	336	126	sorted	sorted	ADJ
ajfa-15215	336	127	)	)	PUNCT
ajfa-15215	336	128	portfolios	portfolio	NOUN
ajfa-15215	336	129	pe3e1	pe3e1	PROPN
ajfa-15215	336	130	pe1e3	pe1e3	PROPN
ajfa-15215	336	131	a	a	DET
ajfa-15215	336	132	-0.0041	-0.0041	NOUN
ajfa-15215	336	133	0.0211	0.0211	NUM
ajfa-15215	336	134	t	t	NOUN
ajfa-15215	336	135	-	-	PUNCT
ajfa-15215	336	136	value	value	NOUN
ajfa-15215	336	137	-0.6866	-0.6866	NOUN
ajfa-15215	337	1	2.9947	2.9947	NUM
ajfa-15215	337	2	b	b	NUM
ajfa-15215	337	3	1.1146	1.1146	NUM
ajfa-15215	337	4	1.2626	1.2626	NUM
ajfa-15215	337	5	t	t	NOUN
ajfa-15215	337	6	-	-	PUNCT
ajfa-15215	337	7	value	value	NOUN
ajfa-15215	337	8	29.3876	29.3876	NUM
ajfa-15215	337	9	28.0596	28.0596	NUM
ajfa-15215	337	10	d	d	NOUN
ajfa-15215	337	11	0.0089	0.0089	NUM
ajfa-15215	337	12	-0.0033	-0.0033	PUNCT
ajfa-15215	337	13	t	t	PROPN
ajfa-15215	337	14	-	-	PUNCT
ajfa-15215	337	15	value	value	NOUN
ajfa-15215	337	16	1.3438	1.3438	NUM
ajfa-15215	337	17	-0.4192	-0.4192	NOUN
ajfa-15215	337	18	adjusted	adjust	VERB
ajfa-15215	337	19	r	r	NOUN
ajfa-15215	337	20	-	-	PUNCT
ajfa-15215	337	21	squared	square	VERB
ajfa-15215	337	22	0.8684	0.8684	NUM
ajfa-15215	337	23	0.8571	0.8571	NUM
ajfa-15215	337	24	asian	asian	ADJ
ajfa-15215	337	25	journal	journal	NOUN
ajfa-15215	337	26	of	of	ADP
ajfa-15215	337	27	finance	finance	PROPN
ajfa-15215	337	28	&	&	CCONJ
ajfa-15215	337	29	accounting	accounting	PROPN
ajfa-15215	337	30	issn	issn	PROPN
ajfa-15215	337	31	1946	1946	NUM
ajfa-15215	337	32	-	-	PUNCT
ajfa-15215	337	33	052x	052x	PROPN
ajfa-15215	337	34	2019	2019	NUM
ajfa-15215	337	35	,	,	PUNCT
ajfa-15215	337	36	vol	vol	NOUN
ajfa-15215	337	37	.	.	PROPN
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ajfa-15215	337	39	,	,	PUNCT
ajfa-15215	337	40	no	no	INTJ
ajfa-15215	337	41	.	.	NOUN
ajfa-15215	337	42	2	2	NUM
ajfa-15215	337	43	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	337	44	59	59	NUM
ajfa-15215	337	45	bivariate	bivariate	ADJ
ajfa-15215	337	46	growth	growth	NOUN
ajfa-15215	337	47	and	and	CCONJ
ajfa-15215	337	48	value	value	NOUN
ajfa-15215	337	49	based	base	VERB
ajfa-15215	337	50	portfolios	portfolio	NOUN
ajfa-15215	337	51	(	(	PUNCT
ajfa-15215	337	52	conditional	conditional	ADJ
ajfa-15215	337	53	i	i	PRON
ajfa-15215	337	54	sorted	sort	VERB
ajfa-15215	337	55	)	)	PUNCT
ajfa-15215	337	56	portfolios	portfolio	NOUN
ajfa-15215	337	57	pe3e1	pe3e1	PROPN
ajfa-15215	337	58	pe1e3	pe1e3	PROPN
ajfa-15215	337	59	a	a	DET
ajfa-15215	337	60	-0.0017	-0.0017	NOUN
ajfa-15215	337	61	0.0206	0.0206	NUM
ajfa-15215	337	62	t	t	NOUN
ajfa-15215	337	63	-	-	PUNCT
ajfa-15215	337	64	value	value	NOUN
ajfa-15215	337	65	-0.2891	-0.2891	NOUN
ajfa-15215	338	1	2.8542	2.8542	NUM
ajfa-15215	338	2	b	b	X
ajfa-15215	338	3	1.1106	1.1106	NUM
ajfa-15215	338	4	1.2759	1.2759	NUM
ajfa-15215	338	5	t	t	NOUN
ajfa-15215	338	6	-	-	PUNCT
ajfa-15215	338	7	value	value	NOUN
ajfa-15215	338	8	29.8852	29.8852	NUM
ajfa-15215	338	9	27.7003	27.7003	NUM
ajfa-15215	338	10	d	d	PROPN
ajfa-15215	338	11	0.0054	0.0054	NUM
ajfa-15215	338	12	-0.0034	-0.0034	NOUN
ajfa-15215	338	13	t	t	NOUN
ajfa-15215	338	14	-	-	PUNCT
ajfa-15215	338	15	value	value	NOUN
ajfa-15215	338	16	0.8331	0.8331	NUM
ajfa-15215	338	17	-0.4238	-0.4238	NOUN
ajfa-15215	338	18	adjusted	adjust	VERB
ajfa-15215	338	19	r	r	NOUN
ajfa-15215	338	20	-	-	PUNCT
ajfa-15215	338	21	squared	square	VERB
ajfa-15215	338	22	0.8719	0.8719	NUM
ajfa-15215	338	23	0.8538	0.8538	NUM
ajfa-15215	338	24	bivariate	bivariate	ADJ
ajfa-15215	338	25	growth	growth	NOUN
ajfa-15215	338	26	and	and	CCONJ
ajfa-15215	338	27	value	value	NOUN
ajfa-15215	338	28	based	base	VERB
ajfa-15215	338	29	portfolios	portfolio	NOUN
ajfa-15215	338	30	(	(	PUNCT
ajfa-15215	338	31	conditional	conditional	ADJ
ajfa-15215	338	32	ii	ii	NOUN
ajfa-15215	338	33	sorted	sort	VERB
ajfa-15215	338	34	)	)	PUNCT
ajfa-15215	338	35	portfolios	portfolio	NOUN
ajfa-15215	338	36	e1pe3	e1pe3	VERB
ajfa-15215	338	37	e3pe1	e3pe1	NOUN
ajfa-15215	338	38	a	a	DET
ajfa-15215	338	39	-9e-05	-9e-05	ADJ
ajfa-15215	338	40	0.0213	0.0213	NUM
ajfa-15215	338	41	t	t	NOUN
ajfa-15215	338	42	-	-	PUNCT
ajfa-15215	338	43	value	value	NOUN
ajfa-15215	338	44	-0.0155	-0.0155	NOUN
ajfa-15215	339	1	2.9463	2.9463	NUM
ajfa-15215	339	2	b	b	PROPN
ajfa-15215	339	3	1.0825	1.0825	NUM
ajfa-15215	339	4	1.2699	1.2699	NUM
ajfa-15215	339	5	t	t	NOUN
ajfa-15215	339	6	-	-	PUNCT
ajfa-15215	339	7	value	value	NOUN
ajfa-15215	339	8	29.2361	29.2361	NUM
ajfa-15215	339	9	27.4818	27.4818	NUM
ajfa-15215	339	10	d	d	PROPN
ajfa-15215	339	11	0.0043	0.0043	NUM
ajfa-15215	339	12	-0.0042	-0.0042	NOUN
ajfa-15215	339	13	t	t	NOUN
ajfa-15215	339	14	-	-	PUNCT
ajfa-15215	339	15	value	value	NOUN
ajfa-15215	339	16	0.6557	0.6557	NUM
ajfa-15215	339	17	-0.5108	-0.5108	NOUN
ajfa-15215	339	18	adjusted	adjust	VERB
ajfa-15215	339	19	r	r	NOUN
ajfa-15215	339	20	-	-	PUNCT
ajfa-15215	339	21	squared	square	VERB
ajfa-15215	339	22	0.8669	0.8669	NUM
ajfa-15215	339	23	0.8519	0.8519	NUM
ajfa-15215	339	24	the	the	DET
ajfa-15215	339	25	above	above	ADJ
ajfa-15215	339	26	table	table	NOUN
ajfa-15215	339	27	reports	report	VERB
ajfa-15215	339	28	capital	capital	NOUN
ajfa-15215	339	29	asset	asset	NOUN
ajfa-15215	339	30	pricing	pricing	NOUN
ajfa-15215	339	31	model	model	NOUN
ajfa-15215	339	32	based	base	VERB
ajfa-15215	339	33	results	result	NOUN
ajfa-15215	339	34	for	for	ADP
ajfa-15215	339	35	best	good	ADJ
ajfa-15215	339	36	performing	perform	VERB
ajfa-15215	339	37	portfolios	portfolio	NOUN
ajfa-15215	339	38	(	(	PUNCT
ajfa-15215	339	39	price	price	NOUN
ajfa-15215	339	40	-	-	PUNCT
ajfa-15215	339	41	earnings	earning	NOUN
ajfa-15215	339	42	based	base	VERB
ajfa-15215	339	43	and	and	CCONJ
ajfa-15215	339	44	simple	simple	ADJ
ajfa-15215	339	45	average	average	ADJ
ajfa-15215	339	46	earnings	earning	NOUN
ajfa-15215	339	47	growth	growth	NOUN
ajfa-15215	339	48	based	base	VERB
ajfa-15215	339	49	)	)	PUNCT
ajfa-15215	339	50	as	as	SCONJ
ajfa-15215	339	51	these	these	PRON
ajfa-15215	339	52	are	be	AUX
ajfa-15215	339	53	used	use	VERB
ajfa-15215	339	54	further	far	ADV
ajfa-15215	339	55	for	for	ADP
ajfa-15215	339	56	bivariate	bivariate	ADJ
ajfa-15215	339	57	formation	formation	NOUN
ajfa-15215	339	58	.	.	PUNCT
ajfa-15215	340	1	we	we	PRON
ajfa-15215	340	2	regress	regress	ADJ
ajfa-15215	340	3	excess	excess	ADJ
ajfa-15215	340	4	portfolio	portfolio	NOUN
ajfa-15215	340	5	returns	return	VERB
ajfa-15215	340	6	on	on	ADP
ajfa-15215	340	7	returns	return	NOUN
ajfa-15215	340	8	of	of	ADP
ajfa-15215	340	9	market	market	NOUN
ajfa-15215	340	10	factor	factor	NOUN
ajfa-15215	340	11	using	use	VERB
ajfa-15215	340	12	capm	capm	PROPN
ajfa-15215	340	13	specification	specification	NOUN
ajfa-15215	340	14	.	.	PUNCT
ajfa-15215	341	1	alpha	alpha	NOUN
ajfa-15215	341	2	(	(	PUNCT
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ajfa-15215	341	4	)	)	PUNCT
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ajfa-15215	342	10	052x	052x	PROPN
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ajfa-15215	342	21	60	60	NUM
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ajfa-15215	342	27	french	french	ADJ
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ajfa-15215	342	33	portfolios	portfolio	NOUN
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ajfa-15215	343	3	(	(	PUNCT
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ajfa-15215	343	5	sorted	sorted	ADJ
ajfa-15215	343	6	)	)	PUNCT
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ajfa-15215	343	11	sorted	sort	VERB
ajfa-15215	343	12	)	)	PUNCT
ajfa-15215	343	13	e3pe1	e3pe1	NOUN
ajfa-15215	343	14	(	(	PUNCT
ajfa-15215	343	15	conditional	conditional	ADJ
ajfa-15215	343	16	ii	ii	NOUN
ajfa-15215	343	17	sorted	sort	VERB
ajfa-15215	343	18	)	)	PUNCT
ajfa-15215	343	19	a	a	DET
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ajfa-15215	343	21	0.0139	0.0139	NUM
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ajfa-15215	343	36	t	t	NOUN
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ajfa-15215	343	43	s	s	PART
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ajfa-15215	343	48	t	t	NOUN
ajfa-15215	343	49	-	-	PUNCT
ajfa-15215	343	50	value	value	NOUN
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ajfa-15215	343	60	t	t	NOUN
ajfa-15215	343	61	-	-	PUNCT
ajfa-15215	343	62	value	value	NOUN
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ajfa-15215	343	65	5.4943	5.4943	NUM
ajfa-15215	343	66	5.0692	5.0692	NUM
ajfa-15215	343	67	d	d	NOUN
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ajfa-15215	345	1	t	t	NOUN
ajfa-15215	345	2	-	-	PUNCT
ajfa-15215	345	3	value	value	NOUN
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ajfa-15215	346	1	-1.0855	-1.0855	PROPN
ajfa-15215	346	2	-1.2983	-1.2983	PROPN
ajfa-15215	346	3	adjusted	adjust	VERB
ajfa-15215	346	4	rsquared	rsquare	VERB
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ajfa-15215	346	6	0.9309	0.9309	NUM
ajfa-15215	346	7	0.9298	0.9298	NUM
ajfa-15215	346	8	0.9271	0.9271	NUM
ajfa-15215	346	9	the	the	DET
ajfa-15215	346	10	above	above	ADJ
ajfa-15215	346	11	table	table	NOUN
ajfa-15215	346	12	reports	report	VERB
ajfa-15215	346	13	fama	fama	PROPN
ajfa-15215	346	14	-	-	PUNCT
ajfa-15215	346	15	french	french	ADJ
ajfa-15215	346	16	three	three	NUM
ajfa-15215	346	17	factor	factor	NOUN
ajfa-15215	346	18	model	model	NOUN
ajfa-15215	346	19	based	base	VERB
ajfa-15215	346	20	results	result	NOUN
ajfa-15215	346	21	.	.	PUNCT
ajfa-15215	347	1	we	we	PRON
ajfa-15215	347	2	regress	regress	ADJ
ajfa-15215	347	3	excess	excess	ADJ
ajfa-15215	347	4	portfolio	portfolio	NOUN
ajfa-15215	347	5	returns	return	VERB
ajfa-15215	347	6	on	on	ADP
ajfa-15215	347	7	returns	return	NOUN
ajfa-15215	347	8	of	of	ADP
ajfa-15215	347	9	market	market	NOUN
ajfa-15215	347	10	factor	factor	NOUN
ajfa-15215	347	11	and	and	CCONJ
ajfa-15215	347	12	factor	factor	NOUN
ajfa-15215	347	13	mimicking	mimic	VERB
ajfa-15215	347	14	portfolios	portfolio	NOUN
ajfa-15215	347	15	that	that	PRON
ajfa-15215	347	16	proxy	proxy	VERB
ajfa-15215	347	17	for	for	ADP
ajfa-15215	347	18	size	size	NOUN
ajfa-15215	347	19	and	and	CCONJ
ajfa-15215	347	20	value	value	NOUN
ajfa-15215	347	21	.	.	PUNCT
ajfa-15215	348	1	alpha	alpha	NOUN
ajfa-15215	348	2	(	(	PUNCT
ajfa-15215	348	3	a	a	PRON
ajfa-15215	348	4	)	)	PUNCT
ajfa-15215	348	5	measures	measure	NOUN
ajfa-15215	348	6	extra	extra	ADJ
ajfa-15215	348	7	normal	normal	ADJ
ajfa-15215	348	8	return	return	NOUN
ajfa-15215	348	9	.	.	PUNCT
ajfa-15215	349	1	we	we	PRON
ajfa-15215	349	2	report	report	VERB
ajfa-15215	349	3	results	result	NOUN
ajfa-15215	349	4	of	of	ADP
ajfa-15215	349	5	only	only	ADV
ajfa-15215	349	6	those	those	DET
ajfa-15215	349	7	portfolios	portfolio	NOUN
ajfa-15215	349	8	that	that	PRON
ajfa-15215	349	9	have	have	VERB
ajfa-15215	349	10	unexplained	unexplained	ADJ
ajfa-15215	349	11	returns	return	NOUN
ajfa-15215	349	12	by	by	ADP
ajfa-15215	349	13	capital	capital	NOUN
ajfa-15215	349	14	asset	asset	NOUN
ajfa-15215	349	15	pricing	pricing	NOUN
ajfa-15215	349	16	model	model	NOUN
ajfa-15215	349	17	.	.	PUNCT
ajfa-15215	350	1	asian	asian	ADJ
ajfa-15215	350	2	journal	journal	PROPN
ajfa-15215	350	3	of	of	ADP
ajfa-15215	350	4	finance	finance	PROPN
ajfa-15215	350	5	&	&	CCONJ
ajfa-15215	350	6	accounting	accounting	PROPN
ajfa-15215	350	7	issn	issn	PROPN
ajfa-15215	350	8	1946	1946	NUM
ajfa-15215	350	9	-	-	PUNCT
ajfa-15215	350	10	052x	052x	PROPN
ajfa-15215	350	11	2019	2019	NUM
ajfa-15215	350	12	,	,	PUNCT
ajfa-15215	350	13	vol	vol	NOUN
ajfa-15215	350	14	.	.	PROPN
ajfa-15215	350	15	11	11	NUM
ajfa-15215	350	16	,	,	PUNCT
ajfa-15215	350	17	no	no	INTJ
ajfa-15215	350	18	.	.	NOUN
ajfa-15215	350	19	2	2	NUM
ajfa-15215	350	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	350	21	61	61	NUM
ajfa-15215	350	22	table	table	NOUN
ajfa-15215	350	23	5	5	NUM
ajfa-15215	350	24	.	.	PUNCT
ajfa-15215	350	25	fama	fama	NOUN
ajfa-15215	350	26	-	-	PUNCT
ajfa-15215	350	27	french	french	ADJ
ajfa-15215	350	28	five	five	NUM
ajfa-15215	350	29	factor	factor	NOUN
ajfa-15215	350	30	model	model	NOUN
ajfa-15215	350	31	based	base	VERB
ajfa-15215	350	32	results	result	VERB
ajfa-15215	350	33	portfolios	portfolio	NOUN
ajfa-15215	351	1	pe1e3	pe1e3	ADP
ajfa-15215	351	2	(	(	PUNCT
ajfa-15215	351	3	independent	independent	ADJ
ajfa-15215	351	4	sorted	sorted	ADJ
ajfa-15215	351	5	)	)	PUNCT
ajfa-15215	351	6	pe1e3	pe1e3	NOUN
ajfa-15215	351	7	(	(	PUNCT
ajfa-15215	351	8	conditional	conditional	ADJ
ajfa-15215	351	9	i	i	PRON
ajfa-15215	351	10	sorted	sort	VERB
ajfa-15215	351	11	)	)	PUNCT
ajfa-15215	351	12	e3pe1	e3pe1	NOUN
ajfa-15215	351	13	(	(	PUNCT
ajfa-15215	351	14	conditional	conditional	ADJ
ajfa-15215	351	15	ii	ii	NOUN
ajfa-15215	351	16	sorted	sort	VERB
ajfa-15215	351	17	)	)	PUNCT
ajfa-15215	351	18	a	a	DET
ajfa-15215	351	19	0.0149	0.0149	NUM
ajfa-15215	351	20	0.0142	0.0142	NUM
ajfa-15215	351	21	0.0150	0.0150	NUM
ajfa-15215	351	22	t	t	NOUN
ajfa-15215	351	23	-	-	PUNCT
ajfa-15215	351	24	value	value	NOUN
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ajfa-15215	351	28	b	b	NOUN
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ajfa-15215	351	38	s	s	PART
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ajfa-15215	351	42	t	t	NOUN
ajfa-15215	351	43	-	-	PUNCT
ajfa-15215	351	44	value	value	NOUN
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ajfa-15215	351	46	10.7288	10.7288	NUM
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ajfa-15215	351	48	l	l	NOUN
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ajfa-15215	351	52	t	t	NOUN
ajfa-15215	351	53	-	-	PUNCT
ajfa-15215	351	54	value	value	NOUN
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ajfa-15215	351	56	5.3942	5.3942	NUM
ajfa-15215	351	57	4.9748	4.9748	NUM
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ajfa-15215	351	60	-0.1065	-0.1065	NOUN
ajfa-15215	351	61	-0.1054	-0.1054	X
ajfa-15215	352	1	t	t	NOUN
ajfa-15215	352	2	-	-	PUNCT
ajfa-15215	352	3	value	value	NOUN
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ajfa-15215	352	5	-2.3959	-2.3959	VERB
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ajfa-15215	353	1	i	i	PRON
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ajfa-15215	353	3	0.0103	0.0103	NUM
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ajfa-15215	353	5	t	t	PROPN
ajfa-15215	353	6	-	-	PUNCT
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ajfa-15215	353	9	0.1506	0.1506	NUM
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ajfa-15215	354	1	d	d	NOUN
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ajfa-15215	354	5	t	t	NOUN
ajfa-15215	354	6	-	-	PUNCT
ajfa-15215	354	7	value	value	NOUN
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ajfa-15215	355	5	returns	return	VERB
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ajfa-15215	355	7	returns	return	NOUN
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ajfa-15215	355	9	market	market	NOUN
ajfa-15215	355	10	factor	factor	NOUN
ajfa-15215	355	11	and	and	CCONJ
ajfa-15215	355	12	factor	factor	NOUN
ajfa-15215	355	13	mimicking	mimic	VERB
ajfa-15215	355	14	portfolios	portfolio	NOUN
ajfa-15215	355	15	that	that	PRON
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ajfa-15215	355	25	rate	rate	NOUN
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ajfa-15215	356	1	alpha	alpha	NOUN
ajfa-15215	356	2	(	(	PUNCT
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ajfa-15215	356	4	)	)	PUNCT
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ajfa-15215	356	6	extra	extra	ADJ
ajfa-15215	356	7	normal	normal	ADJ
ajfa-15215	356	8	return	return	NOUN
ajfa-15215	356	9	.	.	PUNCT
ajfa-15215	357	1	we	we	PRON
ajfa-15215	357	2	report	report	VERB
ajfa-15215	357	3	results	result	NOUN
ajfa-15215	357	4	of	of	ADP
ajfa-15215	357	5	only	only	ADV
ajfa-15215	357	6	those	those	DET
ajfa-15215	357	7	portfolios	portfolio	NOUN
ajfa-15215	357	8	that	that	PRON
ajfa-15215	357	9	have	have	VERB
ajfa-15215	357	10	unexplained	unexplained	ADJ
ajfa-15215	357	11	returns	return	NOUN
ajfa-15215	357	12	by	by	ADP
ajfa-15215	357	13	fama	fama	PROPN
ajfa-15215	357	14	-	-	PUNCT
ajfa-15215	357	15	french	french	ADJ
ajfa-15215	357	16	three	three	NUM
ajfa-15215	357	17	factor	factor	NOUN
ajfa-15215	357	18	model	model	NOUN
ajfa-15215	357	19	.	.	PUNCT
ajfa-15215	358	1	notes	note	VERB
ajfa-15215	358	2	[	[	X
ajfa-15215	358	3	1	1	X
ajfa-15215	358	4	]	]	PUNCT
ajfa-15215	358	5	some	some	DET
ajfa-15215	358	6	studies	study	NOUN
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ajfa-15215	358	9	-	-	PUNCT
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ajfa-15215	358	11	-	-	PUNCT
ajfa-15215	358	12	market	market	NOUN
ajfa-15215	358	13	and	and	CCONJ
ajfa-15215	358	14	earnings	earning	NOUN
ajfa-15215	358	15	-	-	PUNCT
ajfa-15215	358	16	to	to	ADP
ajfa-15215	358	17	-	-	PUNCT
ajfa-15215	358	18	price	price	NOUN
ajfa-15215	358	19	ratios	ratio	NOUN
ajfa-15215	358	20	instead	instead	ADV
ajfa-15215	358	21	of	of	ADP
ajfa-15215	358	22	price	price	NOUN
ajfa-15215	358	23	-	-	PUNCT
ajfa-15215	358	24	to	to	ADP
ajfa-15215	358	25	-	-	PUNCT
ajfa-15215	358	26	book	book	NOUN
ajfa-15215	358	27	and	and	CCONJ
ajfa-15215	358	28	price	price	NOUN
ajfa-15215	358	29	-	-	PUNCT
ajfa-15215	358	30	to	to	ADP
ajfa-15215	358	31	-	-	PUNCT
ajfa-15215	358	32	earnings	earning	NOUN
ajfa-15215	358	33	ratios	ratio	NOUN
ajfa-15215	358	34	used	use	VERB
ajfa-15215	358	35	by	by	ADP
ajfa-15215	358	36	us	we	PRON
ajfa-15215	358	37	.	.	PUNCT
ajfa-15215	359	1	therefore	therefore	ADV
ajfa-15215	359	2	,	,	PUNCT
ajfa-15215	359	3	interpretation	interpretation	NOUN
ajfa-15215	359	4	of	of	ADP
ajfa-15215	359	5	our	our	PRON
ajfa-15215	359	6	results	result	NOUN
ajfa-15215	359	7	is	be	AUX
ajfa-15215	359	8	reversed	reverse	VERB
ajfa-15215	359	9	.	.	PUNCT
ajfa-15215	360	1	asian	asian	ADJ
ajfa-15215	360	2	journal	journal	PROPN
ajfa-15215	360	3	of	of	ADP
ajfa-15215	360	4	finance	finance	PROPN
ajfa-15215	360	5	&	&	CCONJ
ajfa-15215	360	6	accounting	accounting	PROPN
ajfa-15215	360	7	issn	issn	PROPN
ajfa-15215	360	8	1946	1946	NUM
ajfa-15215	360	9	-	-	PUNCT
ajfa-15215	360	10	052x	052x	PROPN
ajfa-15215	360	11	2019	2019	NUM
ajfa-15215	360	12	,	,	PUNCT
ajfa-15215	360	13	vol	vol	NOUN
ajfa-15215	360	14	.	.	PROPN
ajfa-15215	360	15	11	11	NUM
ajfa-15215	360	16	,	,	PUNCT
ajfa-15215	360	17	no	no	INTJ
ajfa-15215	360	18	.	.	NOUN
ajfa-15215	360	19	2	2	NUM
ajfa-15215	360	20	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	360	21	62	62	NUM
ajfa-15215	360	22	[	[	X
ajfa-15215	360	23	2	2	NUM
ajfa-15215	360	24	]	]	PUNCT
ajfa-15215	360	25	forward	forward	ADJ
ajfa-15215	360	26	trading	trading	NOUN
ajfa-15215	360	27	in	in	ADP
ajfa-15215	360	28	the	the	DET
ajfa-15215	360	29	indian	indian	ADJ
ajfa-15215	360	30	securities	security	NOUN
ajfa-15215	360	31	market	market	NOUN
ajfa-15215	360	32	was	be	AUX
ajfa-15215	360	33	banned	ban	VERB
ajfa-15215	360	34	from	from	ADP
ajfa-15215	360	35	july	july	PROPN
ajfa-15215	360	36	2001	2001	NUM
ajfa-15215	360	37	.	.	PUNCT
ajfa-15215	361	1	thus	thus	ADV
ajfa-15215	361	2	,	,	PUNCT
ajfa-15215	361	3	we	we	PRON
ajfa-15215	361	4	have	have	AUX
ajfa-15215	361	5	taken	take	VERB
ajfa-15215	361	6	data	datum	NOUN
ajfa-15215	361	7	after	after	ADP
ajfa-15215	361	8	this	this	DET
ajfa-15215	361	9	period	period	NOUN
ajfa-15215	361	10	to	to	PART
ajfa-15215	361	11	maintain	maintain	VERB
ajfa-15215	361	12	uniformity	uniformity	NOUN
ajfa-15215	361	13	in	in	ADP
ajfa-15215	361	14	prices	price	NOUN
ajfa-15215	361	15	throughout	throughout	ADP
ajfa-15215	361	16	the	the	DET
ajfa-15215	361	17	time	time	NOUN
ajfa-15215	361	18	series	series	NOUN
ajfa-15215	361	19	.	.	PUNCT
ajfa-15215	362	1	since	since	SCONJ
ajfa-15215	362	2	we	we	PRON
ajfa-15215	362	3	are	be	AUX
ajfa-15215	362	4	working	work	VERB
ajfa-15215	362	5	on	on	ADP
ajfa-15215	362	6	calendar	calendar	NOUN
ajfa-15215	362	7	years	year	NOUN
ajfa-15215	362	8	,	,	PUNCT
ajfa-15215	362	9	we	we	PRON
ajfa-15215	362	10	have	have	AUX
ajfa-15215	362	11	taken	take	VERB
ajfa-15215	362	12	data	datum	NOUN
ajfa-15215	362	13	from	from	ADP
ajfa-15215	362	14	december	december	PROPN
ajfa-15215	362	15	2001	2001	NUM
ajfa-15215	362	16	.	.	PUNCT
ajfa-15215	363	1	[	[	X
ajfa-15215	363	2	3	3	NUM
ajfa-15215	363	3	]	]	X
ajfa-15215	363	4	problem	problem	NOUN
ajfa-15215	363	5	of	of	ADP
ajfa-15215	363	6	multicollinearity	multicollinearity	NOUN
ajfa-15215	363	7	in	in	ADP
ajfa-15215	363	8	2	2	NUM
ajfa-15215	363	9	*	*	SYM
ajfa-15215	363	10	3	3	NUM
ajfa-15215	363	11	size	size	NOUN
ajfa-15215	363	12	-	-	PUNCT
ajfa-15215	363	13	value	value	NOUN
ajfa-15215	363	14	partition	partition	NOUN
ajfa-15215	363	15	was	be	AUX
ajfa-15215	363	16	addressed	address	VERB
ajfa-15215	363	17	by	by	ADP
ajfa-15215	363	18	sehgal	sehgal	PROPN
ajfa-15215	363	19	and	and	CCONJ
ajfa-15215	363	20	vasishth	vasishth	ADJ
ajfa-15215	363	21	(	(	PUNCT
ajfa-15215	363	22	2015	2015	NUM
ajfa-15215	363	23	)	)	PUNCT
ajfa-15215	363	24	.	.	PUNCT
ajfa-15215	364	1	2	2	NUM
ajfa-15215	364	2	*	*	SYM
ajfa-15215	364	3	2	2	NUM
ajfa-15215	364	4	size	size	NOUN
ajfa-15215	364	5	-	-	PUNCT
ajfa-15215	364	6	value	value	NOUN
ajfa-15215	364	7	partition	partition	NOUN
ajfa-15215	364	8	was	be	AUX
ajfa-15215	364	9	recommended	recommend	VERB
ajfa-15215	364	10	in	in	ADP
ajfa-15215	364	11	this	this	DET
ajfa-15215	364	12	study	study	NOUN
ajfa-15215	364	13	.	.	PUNCT
ajfa-15215	365	1	references	reference	NOUN
ajfa-15215	365	2	angelini	angelini	PROPN
ajfa-15215	365	3	,	,	PUNCT
ajfa-15215	365	4	p.	p.	PROPN
ajfa-15215	365	5	,	,	PUNCT
ajfa-15215	365	6	a.	a.	NOUN
ajfa-15215	365	7	nobili	nobili	PROPN
ajfa-15215	365	8	,	,	PUNCT
ajfa-15215	365	9	&	&	CCONJ
ajfa-15215	365	10	c.	c.	PROPN
ajfa-15215	365	11	picillo	picillo	PROPN
ajfa-15215	365	12	.	.	PUNCT
ajfa-15215	366	1	(	(	PUNCT
ajfa-15215	366	2	2011	2011	NUM
ajfa-15215	366	3	)	)	PUNCT
ajfa-15215	366	4	.	.	PUNCT
ajfa-15215	367	1	the	the	DET
ajfa-15215	367	2	interbank	interbank	NOUN
ajfa-15215	367	3	market	market	NOUN
ajfa-15215	367	4	after	after	ADP
ajfa-15215	367	5	august	august	PROPN
ajfa-15215	367	6	2007	2007	NUM
ajfa-15215	367	7	:	:	PUNCT
ajfa-15215	367	8	what	what	PRON
ajfa-15215	367	9	has	have	AUX
ajfa-15215	367	10	changed	change	VERB
ajfa-15215	367	11	,	,	PUNCT
ajfa-15215	367	12	and	and	CCONJ
ajfa-15215	367	13	why	why	SCONJ
ajfa-15215	367	14	?	?	PUNCT
ajfa-15215	367	15	.	.	PUNCT
ajfa-15215	368	1	journal	journal	PROPN
ajfa-15215	368	2	of	of	ADP
ajfa-15215	368	3	money	money	NOUN
ajfa-15215	368	4	,	,	PUNCT
ajfa-15215	368	5	credit	credit	NOUN
ajfa-15215	368	6	and	and	CCONJ
ajfa-15215	368	7	banking	banking	NOUN
ajfa-15215	368	8	,	,	PUNCT
ajfa-15215	368	9	43(5	43(5	NOUN
ajfa-15215	368	10	)	)	PUNCT
ajfa-15215	368	11	,	,	PUNCT
ajfa-15215	368	12	923	923	NUM
ajfa-15215	368	13	-	-	SYM
ajfa-15215	368	14	958	958	NUM
ajfa-15215	368	15	.	.	PUNCT
ajfa-15215	369	1	https://doi.org/10.1111/j.1538-4616.2011.00402.x	https://doi.org/10.1111/j.1538-4616.2011.00402.x	PROPN
ajfa-15215	369	2	basu	basu	PROPN
ajfa-15215	369	3	,	,	PUNCT
ajfa-15215	369	4	s.	s.	PROPN
ajfa-15215	369	5	(	(	PUNCT
ajfa-15215	369	6	1977	1977	NUM
ajfa-15215	369	7	)	)	PUNCT
ajfa-15215	369	8	.	.	PUNCT
ajfa-15215	370	1	investment	investment	NOUN
ajfa-15215	370	2	performance	performance	NOUN
ajfa-15215	370	3	of	of	ADP
ajfa-15215	370	4	common	common	ADJ
ajfa-15215	370	5	stocks	stock	NOUN
ajfa-15215	370	6	in	in	ADP
ajfa-15215	370	7	relation	relation	NOUN
ajfa-15215	370	8	to	to	ADP
ajfa-15215	370	9	their	their	PRON
ajfa-15215	370	10	priceearnings	priceearning	NOUN
ajfa-15215	370	11	ratios	ratio	NOUN
ajfa-15215	370	12	:	:	PUNCT
ajfa-15215	370	13	a	a	DET
ajfa-15215	370	14	test	test	NOUN
ajfa-15215	370	15	of	of	ADP
ajfa-15215	370	16	the	the	DET
ajfa-15215	370	17	efficient	efficient	ADJ
ajfa-15215	370	18	market	market	NOUN
ajfa-15215	370	19	hypothesis	hypothesis	NOUN
ajfa-15215	370	20	.	.	PUNCT
ajfa-15215	371	1	the	the	DET
ajfa-15215	371	2	journal	journal	PROPN
ajfa-15215	371	3	of	of	ADP
ajfa-15215	371	4	finance	finance	NOUN
ajfa-15215	371	5	,	,	PUNCT
ajfa-15215	371	6	32(3	32(3	NUM
ajfa-15215	371	7	)	)	PUNCT
ajfa-15215	371	8	,	,	PUNCT
ajfa-15215	371	9	663	663	NUM
ajfa-15215	371	10	-	-	SYM
ajfa-15215	371	11	682	682	NUM
ajfa-15215	371	12	.	.	PUNCT
ajfa-15215	372	1	https://doi.org/10.1111/j.1540-6261.1977.tb01979.x	https://doi.org/10.1111/j.1540-6261.1977.tb01979.x	PROPN
ajfa-15215	372	2	basu	basu	PROPN
ajfa-15215	372	3	,	,	PUNCT
ajfa-15215	372	4	s.	s.	PROPN
ajfa-15215	372	5	(	(	PUNCT
ajfa-15215	372	6	1983	1983	NUM
ajfa-15215	372	7	)	)	PUNCT
ajfa-15215	372	8	.	.	PUNCT
ajfa-15215	373	1	the	the	DET
ajfa-15215	373	2	relationship	relationship	NOUN
ajfa-15215	373	3	between	between	ADP
ajfa-15215	373	4	earnings	earning	NOUN
ajfa-15215	373	5	yield	yield	NOUN
ajfa-15215	373	6	,	,	PUNCT
ajfa-15215	373	7	market	market	NOUN
ajfa-15215	373	8	value	value	NOUN
ajfa-15215	373	9	,	,	PUNCT
ajfa-15215	373	10	and	and	CCONJ
ajfa-15215	373	11	return	return	VERB
ajfa-15215	373	12	for	for	ADP
ajfa-15215	373	13	nyse	nyse	PROPN
ajfa-15215	373	14	common	common	ADJ
ajfa-15215	373	15	stocks	stock	NOUN
ajfa-15215	373	16	:	:	PUNCT
ajfa-15215	373	17	further	further	ADJ
ajfa-15215	373	18	evidence	evidence	NOUN
ajfa-15215	373	19	.	.	PUNCT
ajfa-15215	374	1	journal	journal	NOUN
ajfa-15215	374	2	of	of	ADP
ajfa-15215	374	3	financial	financial	ADJ
ajfa-15215	374	4	economics	economic	NOUN
ajfa-15215	374	5	,	,	PUNCT
ajfa-15215	374	6	12(1	12(1	NUM
ajfa-15215	374	7	)	)	PUNCT
ajfa-15215	374	8	,	,	PUNCT
ajfa-15215	374	9	129	129	NUM
ajfa-15215	374	10	-	-	SYM
ajfa-15215	374	11	156	156	NUM
ajfa-15215	374	12	.	.	PUNCT
ajfa-15215	375	1	https://doi.org/10.1016/0304-405x(83)90031-4	https://doi.org/10.1016/0304-405x(83)90031-4	PROPN
ajfa-15215	375	2	chan	chan	PROPN
ajfa-15215	375	3	,	,	PUNCT
ajfa-15215	375	4	k.c	k.c	PROPN
ajfa-15215	375	5	.	.	PROPN
ajfa-15215	375	6	,	,	PUNCT
ajfa-15215	375	7	&	&	CCONJ
ajfa-15215	375	8	chen	chen	PROPN
ajfa-15215	375	9	,	,	PUNCT
ajfa-15215	375	10	n.f	n.f	PROPN
ajfa-15215	375	11	.	.	PROPN
ajfa-15215	375	12	(	(	PUNCT
ajfa-15215	375	13	1991	1991	NUM
ajfa-15215	375	14	)	)	PUNCT
ajfa-15215	375	15	.	.	PUNCT
ajfa-15215	376	1	structural	structural	ADJ
ajfa-15215	376	2	and	and	CCONJ
ajfa-15215	376	3	return	return	VERB
ajfa-15215	376	4	characteristics	characteristic	NOUN
ajfa-15215	376	5	of	of	ADP
ajfa-15215	376	6	small	small	ADJ
ajfa-15215	376	7	and	and	CCONJ
ajfa-15215	376	8	large	large	ADJ
ajfa-15215	376	9	firms	firm	NOUN
ajfa-15215	376	10	.	.	PUNCT
ajfa-15215	377	1	the	the	DET
ajfa-15215	377	2	journal	journal	PROPN
ajfa-15215	377	3	of	of	ADP
ajfa-15215	377	4	finance	finance	NOUN
ajfa-15215	377	5	,	,	PUNCT
ajfa-15215	377	6	46(4	46(4	NOUN
ajfa-15215	377	7	)	)	PUNCT
ajfa-15215	377	8	,	,	PUNCT
ajfa-15215	377	9	1467	1467	NUM
ajfa-15215	377	10	-	-	SYM
ajfa-15215	377	11	1484	1484	NUM
ajfa-15215	377	12	.	.	PUNCT
ajfa-15215	378	1	https://doi.org/10.1111/j.15406261.1991.tb04626.x	https://doi.org/10.1111/j.15406261.1991.tb04626.x	PUNCT
ajfa-15215	378	2	chan	chan	PROPN
ajfa-15215	378	3	,	,	PUNCT
ajfa-15215	378	4	l.	l.	PROPN
ajfa-15215	378	5	k.	k.	PROPN
ajfa-15215	378	6	c.	c.	PROPN
ajfa-15215	378	7	,	,	PUNCT
ajfa-15215	378	8	hamao	hamao	PROPN
ajfa-15215	378	9	,	,	PUNCT
ajfa-15215	378	10	y.	y.	PROPN
ajfa-15215	378	11	,	,	PUNCT
ajfa-15215	378	12	&	&	CCONJ
ajfa-15215	378	13	lakonishok	lakonishok	PROPN
ajfa-15215	378	14	,	,	PUNCT
ajfa-15215	378	15	j.	j.	PROPN
ajfa-15215	378	16	(	(	PUNCT
ajfa-15215	378	17	1991	1991	NUM
ajfa-15215	378	18	)	)	PUNCT
ajfa-15215	378	19	.	.	PUNCT
ajfa-15215	379	1	fundamentals	fundamental	NOUN
ajfa-15215	379	2	and	and	CCONJ
ajfa-15215	379	3	stock	stock	NOUN
ajfa-15215	379	4	returns	return	NOUN
ajfa-15215	379	5	in	in	ADP
ajfa-15215	379	6	japan	japan	PROPN
ajfa-15215	379	7	’	'	PUNCT
ajfa-15215	379	8	.	.	PUNCT
ajfa-15215	380	1	journal	journal	PROPN
ajfa-15215	380	2	of	of	ADP
ajfa-15215	380	3	finance	finance	NOUN
ajfa-15215	380	4	,	,	PUNCT
ajfa-15215	380	5	46(5	46(5	PROPN
ajfa-15215	380	6	)	)	PUNCT
ajfa-15215	380	7	,	,	PUNCT
ajfa-15215	380	8	1739	1739	NUM
ajfa-15215	380	9	-	-	SYM
ajfa-15215	380	10	1764	1764	NUM
ajfa-15215	380	11	.	.	PUNCT
ajfa-15215	381	1	https://doi.org/10.1111/j.1540-6261.1991.tb04642.x	https://doi.org/10.1111/j.1540-6261.1991.tb04642.x	PROPN
ajfa-15215	381	2	chan	chan	PROPN
ajfa-15215	381	3	,	,	PUNCT
ajfa-15215	381	4	l.k.c	l.k.c	NOUN
ajfa-15215	381	5	.	.	PUNCT
ajfa-15215	381	6	,	,	PUNCT
ajfa-15215	381	7	&	&	CCONJ
ajfa-15215	381	8	lakonishok	lakonishok	PROPN
ajfa-15215	381	9	,	,	PUNCT
ajfa-15215	381	10	j.	j.	PROPN
ajfa-15215	381	11	(	(	PUNCT
ajfa-15215	381	12	2004	2004	NUM
ajfa-15215	381	13	)	)	PUNCT
ajfa-15215	381	14	.	.	PUNCT
ajfa-15215	382	1	value	value	NOUN
ajfa-15215	382	2	and	and	CCONJ
ajfa-15215	382	3	growth	growth	NOUN
ajfa-15215	382	4	investing	investing	NOUN
ajfa-15215	382	5	:	:	PUNCT
ajfa-15215	382	6	review	review	NOUN
ajfa-15215	382	7	and	and	CCONJ
ajfa-15215	382	8	update	update	VERB
ajfa-15215	382	9	,	,	PUNCT
ajfa-15215	382	10	financial	financial	ADJ
ajfa-15215	382	11	analysts	analyst	NOUN
ajfa-15215	382	12	journal	journal	NOUN
ajfa-15215	382	13	,	,	PUNCT
ajfa-15215	382	14	60(1	60(1	NUM
ajfa-15215	382	15	)	)	PUNCT
ajfa-15215	382	16	,	,	PUNCT
ajfa-15215	382	17	71	71	NUM
ajfa-15215	382	18	-	-	SYM
ajfa-15215	382	19	86	86	NUM
ajfa-15215	382	20	.	.	PUNCT
ajfa-15215	383	1	https://doi.org/10.2469/faj.v60.n1.2593	https://doi.org/10.2469/faj.v60.n1.2593	PROPN
ajfa-15215	383	2	chan	chan	PROPN
ajfa-15215	383	3	,	,	PUNCT
ajfa-15215	383	4	l.k.c	l.k.c	NOUN
ajfa-15215	383	5	.	.	PUNCT
ajfa-15215	383	6	,	,	PUNCT
ajfa-15215	383	7	karceski	karceski	PROPN
ajfa-15215	383	8	,	,	PUNCT
ajfa-15215	383	9	j.	j.	PROPN
ajfa-15215	383	10	,	,	PUNCT
ajfa-15215	383	11	&	&	CCONJ
ajfa-15215	383	12	lakonishok	lakonishok	PROPN
ajfa-15215	383	13	,	,	PUNCT
ajfa-15215	383	14	j.	j.	PROPN
ajfa-15215	383	15	(	(	PUNCT
ajfa-15215	383	16	2000	2000	NUM
ajfa-15215	383	17	)	)	PUNCT
ajfa-15215	383	18	.	.	PUNCT
ajfa-15215	384	1	new	new	ADJ
ajfa-15215	384	2	paradigm	paradigm	NOUN
ajfa-15215	384	3	or	or	CCONJ
ajfa-15215	384	4	same	same	ADJ
ajfa-15215	384	5	old	old	ADJ
ajfa-15215	384	6	hype	hype	NOUN
ajfa-15215	384	7	in	in	ADP
ajfa-15215	384	8	equity	equity	NOUN
ajfa-15215	384	9	investing	investing	NOUN
ajfa-15215	384	10	?	?	PUNCT
ajfa-15215	384	11	.	.	PUNCT
ajfa-15215	385	1	financial	financial	ADJ
ajfa-15215	385	2	analysts	analyst	NOUN
ajfa-15215	385	3	journal	journal	NOUN
ajfa-15215	385	4	,	,	PUNCT
ajfa-15215	385	5	56(4	56(4	PROPN
ajfa-15215	385	6	)	)	PUNCT
ajfa-15215	385	7	,	,	PUNCT
ajfa-15215	385	8	23	23	NUM
ajfa-15215	385	9	-	-	SYM
ajfa-15215	385	10	36	36	NUM
ajfa-15215	385	11	.	.	PUNCT
ajfa-15215	386	1	https://doi.org/10.2469/faj.v56.n4.2371	https://doi.org/10.2469/faj.v56.n4.2371	PROPN
ajfa-15215	386	2	damodaran	damodaran	VERB
ajfa-15215	386	3	,	,	PUNCT
ajfa-15215	386	4	a.	a.	NOUN
ajfa-15215	386	5	(	(	PUNCT
ajfa-15215	386	6	2012	2012	NUM
ajfa-15215	386	7	)	)	PUNCT
ajfa-15215	386	8	.	.	PUNCT
ajfa-15215	387	1	growth	growth	NOUN
ajfa-15215	387	2	investing	investing	NOUN
ajfa-15215	387	3	:	:	PUNCT
ajfa-15215	387	4	betting	bet	VERB
ajfa-15215	387	5	on	on	ADP
ajfa-15215	387	6	the	the	DET
ajfa-15215	387	7	future	future	NOUN
ajfa-15215	387	8	?	?	PUNCT
ajfa-15215	387	9	.	.	PUNCT
ajfa-15215	388	1	ssrn	ssrn	PROPN
ajfa-15215	388	2	electronic	electronic	ADJ
ajfa-15215	388	3	journal	journal	NOUN
ajfa-15215	388	4	,	,	PUNCT
ajfa-15215	388	5	152	152	NUM
ajfa-15215	388	6	.	.	PUNCT
ajfa-15215	389	1	https://doi.org/10.2139/ssrn.2118966	https://doi.org/10.2139/ssrn.2118966	PROPN
ajfa-15215	389	2	fama	fama	PROPN
ajfa-15215	389	3	,	,	PUNCT
ajfa-15215	389	4	e.f	e.f	PROPN
ajfa-15215	389	5	.	.	PROPN
ajfa-15215	389	6	,	,	PUNCT
ajfa-15215	389	7	&	&	CCONJ
ajfa-15215	389	8	french	french	PROPN
ajfa-15215	389	9	,	,	PUNCT
ajfa-15215	389	10	k.r	k.r	PROPN
ajfa-15215	389	11	.	.	PROPN
ajfa-15215	389	12	(	(	PUNCT
ajfa-15215	389	13	1993	1993	NUM
ajfa-15215	389	14	)	)	PUNCT
ajfa-15215	389	15	.	.	PUNCT
ajfa-15215	390	1	common	common	ADJ
ajfa-15215	390	2	risk	risk	NOUN
ajfa-15215	390	3	factors	factor	NOUN
ajfa-15215	390	4	in	in	ADP
ajfa-15215	390	5	the	the	DET
ajfa-15215	390	6	returns	return	NOUN
ajfa-15215	390	7	on	on	ADP
ajfa-15215	390	8	stocks	stock	NOUN
ajfa-15215	390	9	and	and	CCONJ
ajfa-15215	390	10	bonds	bond	NOUN
ajfa-15215	390	11	.	.	PUNCT
ajfa-15215	391	1	journal	journal	NOUN
ajfa-15215	391	2	of	of	ADP
ajfa-15215	391	3	financial	financial	ADJ
ajfa-15215	391	4	economics	economic	NOUN
ajfa-15215	391	5	,	,	PUNCT
ajfa-15215	391	6	33(1	33(1	NUM
ajfa-15215	391	7	)	)	PUNCT
ajfa-15215	391	8	,	,	PUNCT
ajfa-15215	391	9	3	3	NUM
ajfa-15215	391	10	-	-	SYM
ajfa-15215	391	11	56	56	NUM
ajfa-15215	391	12	.	.	PUNCT
ajfa-15215	392	1	https://doi.org/10.1016/0304-405x(93)90023-5	https://doi.org/10.1016/0304-405x(93)90023-5	PROPN
ajfa-15215	392	2	fama	fama	PROPN
ajfa-15215	392	3	,	,	PUNCT
ajfa-15215	392	4	e.f	e.f	PROPN
ajfa-15215	392	5	.	.	PROPN
ajfa-15215	392	6	,	,	PUNCT
ajfa-15215	392	7	&	&	CCONJ
ajfa-15215	392	8	french	french	PROPN
ajfa-15215	392	9	,	,	PUNCT
ajfa-15215	392	10	k.r	k.r	PROPN
ajfa-15215	392	11	.	.	PROPN
ajfa-15215	392	12	(	(	PUNCT
ajfa-15215	392	13	1995	1995	NUM
ajfa-15215	392	14	)	)	PUNCT
ajfa-15215	392	15	.	.	PUNCT
ajfa-15215	393	1	size	size	NOUN
ajfa-15215	393	2	and	and	CCONJ
ajfa-15215	393	3	book	book	NOUN
ajfa-15215	393	4	-	-	PUNCT
ajfa-15215	393	5	to	to	ADP
ajfa-15215	393	6	-	-	PUNCT
ajfa-15215	393	7	market	market	NOUN
ajfa-15215	393	8	factors	factor	NOUN
ajfa-15215	393	9	in	in	ADP
ajfa-15215	393	10	earnings	earning	NOUN
ajfa-15215	393	11	and	and	CCONJ
ajfa-15215	393	12	returns	return	NOUN
ajfa-15215	393	13	.	.	PUNCT
ajfa-15215	394	1	the	the	DET
ajfa-15215	394	2	journal	journal	NOUN
ajfa-15215	394	3	of	of	ADP
ajfa-15215	394	4	finance	finance	NOUN
ajfa-15215	394	5	,	,	PUNCT
ajfa-15215	394	6	50(1	50(1	PROPN
ajfa-15215	394	7	)	)	PUNCT
ajfa-15215	394	8	,	,	PUNCT
ajfa-15215	394	9	131	131	NUM
ajfa-15215	394	10	-	-	SYM
ajfa-15215	394	11	155	155	NUM
ajfa-15215	394	12	.	.	PUNCT
ajfa-15215	395	1	https://doi.org/10.1111/j.1540-6261.1995.tb05169.x	https://doi.org/10.1111/j.1540-6261.1995.tb05169.x	DET
ajfa-15215	395	2	fama	fama	NOUN
ajfa-15215	395	3	,	,	PUNCT
ajfa-15215	395	4	e.f	e.f	PROPN
ajfa-15215	395	5	.	.	PROPN
ajfa-15215	395	6	,	,	PUNCT
ajfa-15215	395	7	&	&	CCONJ
ajfa-15215	395	8	french	french	PROPN
ajfa-15215	395	9	,	,	PUNCT
ajfa-15215	395	10	k.r	k.r	PROPN
ajfa-15215	395	11	.	.	PROPN
ajfa-15215	395	12	(	(	PUNCT
ajfa-15215	395	13	1996	1996	NUM
ajfa-15215	395	14	)	)	PUNCT
ajfa-15215	395	15	.	.	PUNCT
ajfa-15215	396	1	multifactor	multifactor	NOUN
ajfa-15215	396	2	explanations	explanation	NOUN
ajfa-15215	396	3	of	of	ADP
ajfa-15215	396	4	asset	asset	NOUN
ajfa-15215	396	5	pricing	pricing	NOUN
ajfa-15215	396	6	anomalies	anomaly	NOUN
ajfa-15215	396	7	.	.	PUNCT
ajfa-15215	397	1	the	the	DET
ajfa-15215	397	2	journal	journal	PROPN
ajfa-15215	397	3	of	of	ADP
ajfa-15215	397	4	finance	finance	NOUN
ajfa-15215	397	5	,	,	PUNCT
ajfa-15215	397	6	51(1	51(1	NUM
ajfa-15215	397	7	)	)	PUNCT
ajfa-15215	397	8	,	,	PUNCT
ajfa-15215	397	9	55	55	NUM
ajfa-15215	397	10	-	-	SYM
ajfa-15215	397	11	84	84	NUM
ajfa-15215	397	12	.	.	PUNCT
ajfa-15215	398	1	https://doi.org/10.1111/j.1540-6261.1996.tb05202.x	https://doi.org/10.1111/j.1540-6261.1996.tb05202.x	PROPN
ajfa-15215	398	2	fama	fama	PROPN
ajfa-15215	398	3	,	,	PUNCT
ajfa-15215	398	4	e.f	e.f	PROPN
ajfa-15215	398	5	.	.	PROPN
ajfa-15215	398	6	,	,	PUNCT
ajfa-15215	398	7	&	&	CCONJ
ajfa-15215	398	8	french	french	PROPN
ajfa-15215	398	9	,	,	PUNCT
ajfa-15215	398	10	k.r	k.r	PROPN
ajfa-15215	398	11	.	.	PROPN
ajfa-15215	398	12	(	(	PUNCT
ajfa-15215	398	13	1998	1998	NUM
ajfa-15215	398	14	)	)	PUNCT
ajfa-15215	398	15	.	.	PUNCT
ajfa-15215	399	1	value	value	NOUN
ajfa-15215	399	2	versus	versus	ADP
ajfa-15215	399	3	growth	growth	NOUN
ajfa-15215	399	4	:	:	PUNCT
ajfa-15215	399	5	the	the	DET
ajfa-15215	399	6	international	international	ADJ
ajfa-15215	399	7	evidence	evidence	NOUN
ajfa-15215	399	8	.	.	PUNCT
ajfa-15215	400	1	the	the	DET
ajfa-15215	400	2	journal	journal	PROPN
ajfa-15215	400	3	of	of	ADP
ajfa-15215	400	4	finance	finance	NOUN
ajfa-15215	400	5	,	,	PUNCT
ajfa-15215	400	6	53(6	53(6	PROPN
ajfa-15215	400	7	)	)	PUNCT
ajfa-15215	400	8	,	,	PUNCT
ajfa-15215	400	9	1975	1975	NUM
ajfa-15215	400	10	-	-	SYM
ajfa-15215	400	11	1999	1999	NUM
ajfa-15215	400	12	.	.	PUNCT
ajfa-15215	401	1	https://doi.org/10.1111/0022-1082.00080	https://doi.org/10.1111/0022-1082.00080	PROPN
ajfa-15215	401	2	fama	fama	PROPN
ajfa-15215	401	3	,	,	PUNCT
ajfa-15215	401	4	e.f	e.f	PROPN
ajfa-15215	401	5	.	.	PROPN
ajfa-15215	401	6	,	,	PUNCT
ajfa-15215	401	7	&	&	CCONJ
ajfa-15215	401	8	french	french	PROPN
ajfa-15215	401	9	,	,	PUNCT
ajfa-15215	401	10	k.r	k.r	PROPN
ajfa-15215	401	11	.	.	PROPN
ajfa-15215	401	12	(	(	PUNCT
ajfa-15215	401	13	2015	2015	NUM
ajfa-15215	401	14	)	)	PUNCT
ajfa-15215	401	15	.	.	PUNCT
ajfa-15215	402	1	a	a	DET
ajfa-15215	402	2	five	five	NUM
ajfa-15215	402	3	-	-	PUNCT
ajfa-15215	402	4	factor	factor	NOUN
ajfa-15215	402	5	asset	asset	NOUN
ajfa-15215	402	6	pricing	pricing	NOUN
ajfa-15215	402	7	model	model	NOUN
ajfa-15215	402	8	.	.	PUNCT
ajfa-15215	403	1	journal	journal	PROPN
ajfa-15215	403	2	of	of	ADP
ajfa-15215	403	3	financial	financial	ADJ
ajfa-15215	403	4	asian	asian	ADJ
ajfa-15215	403	5	journal	journal	NOUN
ajfa-15215	403	6	of	of	ADP
ajfa-15215	403	7	finance	finance	PROPN
ajfa-15215	403	8	&	&	CCONJ
ajfa-15215	403	9	accounting	accounting	PROPN
ajfa-15215	403	10	issn	issn	PROPN
ajfa-15215	403	11	1946	1946	NUM
ajfa-15215	403	12	-	-	PUNCT
ajfa-15215	403	13	052x	052x	PROPN
ajfa-15215	403	14	2019	2019	NUM
ajfa-15215	403	15	,	,	PUNCT
ajfa-15215	403	16	vol	vol	NOUN
ajfa-15215	403	17	.	.	PROPN
ajfa-15215	403	18	11	11	NUM
ajfa-15215	403	19	,	,	PUNCT
ajfa-15215	403	20	no	no	INTJ
ajfa-15215	403	21	.	.	NOUN
ajfa-15215	403	22	2	2	NUM
ajfa-15215	403	23	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	403	24	63	63	NUM
ajfa-15215	403	25	economics	economic	NOUN
ajfa-15215	403	26	,	,	PUNCT
ajfa-15215	403	27	116(1	116(1	NUM
ajfa-15215	403	28	)	)	PUNCT
ajfa-15215	403	29	,	,	PUNCT
ajfa-15215	403	30	1	1	NUM
ajfa-15215	403	31	-	-	SYM
ajfa-15215	403	32	22	22	NUM
ajfa-15215	403	33	.	.	PUNCT
ajfa-15215	404	1	https://doi.org/10.1016/j.jfineco.2014.10.010	https://doi.org/10.1016/j.jfineco.2014.10.010	PROPN
ajfa-15215	404	2	fu	fu	PROPN
ajfa-15215	404	3	,	,	PUNCT
ajfa-15215	404	4	f.	f.	PROPN
ajfa-15215	404	5	(	(	PUNCT
ajfa-15215	404	6	2014	2014	NUM
ajfa-15215	404	7	)	)	PUNCT
ajfa-15215	404	8	.	.	PUNCT
ajfa-15215	405	1	dissecting	dissect	VERB
ajfa-15215	405	2	the	the	DET
ajfa-15215	405	3	asset	asset	NOUN
ajfa-15215	405	4	growth	growth	NOUN
ajfa-15215	405	5	anomaly	anomaly	NOUN
ajfa-15215	405	6	.	.	PUNCT
ajfa-15215	406	1	research	research	NOUN
ajfa-15215	406	2	collection	collection	PROPN
ajfa-15215	406	3	lee	lee	PROPN
ajfa-15215	406	4	kong	kong	PROPN
ajfa-15215	406	5	chian	chian	PROPN
ajfa-15215	406	6	school	school	PROPN
ajfa-15215	406	7	of	of	ADP
ajfa-15215	406	8	business	business	NOUN
ajfa-15215	406	9	,	,	PUNCT
ajfa-15215	406	10	pp	pp	ADJ
ajfa-15215	406	11	.	.	PUNCT
ajfa-15215	407	1	1	1	NUM
ajfa-15215	407	2	-	-	SYM
ajfa-15215	407	3	36	36	NUM
ajfa-15215	407	4	.	.	PUNCT
ajfa-15215	408	1	https://doi.org/10.2139/ssrn.2533316	https://doi.org/10.2139/ssrn.2533316	VERB
ajfa-15215	408	2	houge	houge	NOUN
ajfa-15215	408	3	,	,	PUNCT
ajfa-15215	408	4	t.	t.	PROPN
ajfa-15215	408	5	,	,	PUNCT
ajfa-15215	408	6	&	&	CCONJ
ajfa-15215	408	7	loughran	loughran	NOUN
ajfa-15215	408	8	,	,	PUNCT
ajfa-15215	408	9	t.	t.	PROPN
ajfa-15215	408	10	(	(	PUNCT
ajfa-15215	408	11	2006	2006	NUM
ajfa-15215	408	12	)	)	PUNCT
ajfa-15215	408	13	.	.	PUNCT
ajfa-15215	409	1	do	do	AUX
ajfa-15215	409	2	investors	investor	NOUN
ajfa-15215	409	3	capture	capture	VERB
ajfa-15215	409	4	the	the	DET
ajfa-15215	409	5	value	value	NOUN
ajfa-15215	409	6	premium	premium	NOUN
ajfa-15215	409	7	?	?	PUNCT
ajfa-15215	409	8	,	,	PUNCT
ajfa-15215	409	9	financial	financial	ADJ
ajfa-15215	409	10	management	management	NOUN
ajfa-15215	409	11	,	,	PUNCT
ajfa-15215	409	12	35(2	35(2	NUM
ajfa-15215	409	13	)	)	PUNCT
ajfa-15215	409	14	,	,	PUNCT
ajfa-15215	409	15	5	5	NUM
ajfa-15215	409	16	-	-	SYM
ajfa-15215	409	17	19	19	NUM
ajfa-15215	409	18	.	.	PUNCT
ajfa-15215	410	1	https://doi.org/10.1111/j.1755-053x.2006.tb00139.x	https://doi.org/10.1111/j.1755-053x.2006.tb00139.x	PROPN
ajfa-15215	410	2	kumar	kumar	PROPN
ajfa-15215	410	3	,	,	PUNCT
ajfa-15215	410	4	p.	p.	PROPN
ajfa-15215	410	5	,	,	PUNCT
ajfa-15215	410	6	&	&	CCONJ
ajfa-15215	410	7	li	li	PROPN
ajfa-15215	410	8	,	,	PUNCT
ajfa-15215	410	9	d.	d.	PROPN
ajfa-15215	410	10	(	(	PUNCT
ajfa-15215	410	11	2016	2016	NUM
ajfa-15215	410	12	)	)	PUNCT
ajfa-15215	410	13	.	.	PUNCT
ajfa-15215	411	1	capital	capital	NOUN
ajfa-15215	411	2	investment	investment	NOUN
ajfa-15215	411	3	,	,	PUNCT
ajfa-15215	411	4	innovative	innovative	ADJ
ajfa-15215	411	5	capacity	capacity	NOUN
ajfa-15215	411	6	,	,	PUNCT
ajfa-15215	411	7	and	and	CCONJ
ajfa-15215	411	8	stock	stock	NOUN
ajfa-15215	411	9	returns	return	NOUN
ajfa-15215	411	10	.	.	PUNCT
ajfa-15215	412	1	the	the	DET
ajfa-15215	412	2	journal	journal	PROPN
ajfa-15215	412	3	of	of	ADP
ajfa-15215	412	4	finance	finance	NOUN
ajfa-15215	412	5	,	,	PUNCT
ajfa-15215	412	6	71(5	71(5	NUM
ajfa-15215	412	7	)	)	PUNCT
ajfa-15215	412	8	,	,	PUNCT
ajfa-15215	412	9	2059	2059	NUM
ajfa-15215	412	10	-	-	SYM
ajfa-15215	412	11	2094	2094	NUM
ajfa-15215	412	12	.	.	PUNCT
ajfa-15215	413	1	https://doi.org/10.1111/jofi.12419	https://doi.org/10.1111/jofi.12419	PRON
ajfa-15215	413	2	lakonishok	lakonishok	VERB
ajfa-15215	413	3	,	,	PUNCT
ajfa-15215	413	4	j.	j.	PROPN
ajfa-15215	413	5	,	,	PUNCT
ajfa-15215	413	6	shleifer	shleifer	PROPN
ajfa-15215	413	7	,	,	PUNCT
ajfa-15215	413	8	a.	a.	PROPN
ajfa-15215	413	9	,	,	PUNCT
ajfa-15215	413	10	&	&	CCONJ
ajfa-15215	413	11	vishny	vishny	PROPN
ajfa-15215	413	12	,	,	PUNCT
ajfa-15215	413	13	r.w	r.w	PROPN
ajfa-15215	413	14	.	.	PROPN
ajfa-15215	413	15	(	(	PUNCT
ajfa-15215	413	16	1994	1994	NUM
ajfa-15215	413	17	)	)	PUNCT
ajfa-15215	413	18	.	.	PUNCT
ajfa-15215	414	1	contrarian	contrarian	ADJ
ajfa-15215	414	2	investment	investment	NOUN
ajfa-15215	414	3	,	,	PUNCT
ajfa-15215	414	4	extrapolation	extrapolation	NOUN
ajfa-15215	414	5	,	,	PUNCT
ajfa-15215	414	6	and	and	CCONJ
ajfa-15215	414	7	risk	risk	NOUN
ajfa-15215	414	8	.	.	PUNCT
ajfa-15215	415	1	the	the	DET
ajfa-15215	415	2	journal	journal	PROPN
ajfa-15215	415	3	of	of	ADP
ajfa-15215	415	4	finance	finance	NOUN
ajfa-15215	415	5	,	,	PUNCT
ajfa-15215	415	6	49(5	49(5	NUM
ajfa-15215	415	7	)	)	PUNCT
ajfa-15215	415	8	,	,	PUNCT
ajfa-15215	415	9	1541	1541	NUM
ajfa-15215	415	10	-	-	SYM
ajfa-15215	415	11	1578	1578	NUM
ajfa-15215	415	12	.	.	PUNCT
ajfa-15215	416	1	https://doi.org/10.1111/j.15406261.1994.tb04772.x	https://doi.org/10.1111/j.15406261.1994.tb04772.x	PROPN
ajfa-15215	416	2	marx	marx	PROPN
ajfa-15215	416	3	,	,	PUNCT
ajfa-15215	416	4	n.	n.	NOUN
ajfa-15215	416	5	(	(	PUNCT
ajfa-15215	416	6	2013	2013	NUM
ajfa-15215	416	7	)	)	PUNCT
ajfa-15215	416	8	.	.	PUNCT
ajfa-15215	417	1	the	the	DET
ajfa-15215	417	2	other	other	ADJ
ajfa-15215	417	3	side	side	NOUN
ajfa-15215	417	4	of	of	ADP
ajfa-15215	417	5	value	value	NOUN
ajfa-15215	417	6	:	:	PUNCT
ajfa-15215	417	7	the	the	DET
ajfa-15215	417	8	gross	gross	ADJ
ajfa-15215	417	9	profitability	profitability	NOUN
ajfa-15215	417	10	premium	premium	NOUN
ajfa-15215	417	11	.	.	PUNCT
ajfa-15215	418	1	journal	journal	NOUN
ajfa-15215	418	2	of	of	ADP
ajfa-15215	418	3	financial	financial	ADJ
ajfa-15215	418	4	economics	economic	NOUN
ajfa-15215	418	5	,	,	PUNCT
ajfa-15215	418	6	108(1	108(1	NUM
ajfa-15215	418	7	)	)	PUNCT
ajfa-15215	418	8	,	,	PUNCT
ajfa-15215	418	9	1	1	NUM
ajfa-15215	418	10	-	-	SYM
ajfa-15215	418	11	28	28	NUM
ajfa-15215	418	12	.	.	PUNCT
ajfa-15215	419	1	https://doi.org/10.1016/j.jfineco.2013.01.003	https://doi.org/10.1016/j.jfineco.2013.01.003	PROPN
ajfa-15215	419	2	rosenberg	rosenberg	PROPN
ajfa-15215	419	3	,	,	PUNCT
ajfa-15215	419	4	b.	b.	PROPN
ajfa-15215	419	5	,	,	PUNCT
ajfa-15215	419	6	reid	reid	PROPN
ajfa-15215	419	7	,	,	PUNCT
ajfa-15215	419	8	k.	k.	PROPN
ajfa-15215	419	9	&	&	CCONJ
ajfa-15215	419	10	lanstein	lanstein	PROPN
ajfa-15215	419	11	,	,	PUNCT
ajfa-15215	419	12	r.	r.	PROPN
ajfa-15215	419	13	(	(	PUNCT
ajfa-15215	419	14	1985	1985	NUM
ajfa-15215	419	15	)	)	PUNCT
ajfa-15215	419	16	.	.	PUNCT
ajfa-15215	420	1	persuasive	persuasive	ADJ
ajfa-15215	420	2	evidence	evidence	NOUN
ajfa-15215	420	3	of	of	ADP
ajfa-15215	420	4	market	market	NOUN
ajfa-15215	420	5	inefficiency	inefficiency	NOUN
ajfa-15215	420	6	.	.	PUNCT
ajfa-15215	421	1	journal	journal	NOUN
ajfa-15215	421	2	of	of	ADP
ajfa-15215	421	3	portfolio	portfolio	NOUN
ajfa-15215	421	4	management	management	NOUN
ajfa-15215	421	5	,	,	PUNCT
ajfa-15215	421	6	11(3	11(3	NUM
ajfa-15215	421	7	)	)	PUNCT
ajfa-15215	421	8	,	,	PUNCT
ajfa-15215	421	9	9	9	NUM
ajfa-15215	421	10	-	-	SYM
ajfa-15215	421	11	16	16	NUM
ajfa-15215	421	12	.	.	PUNCT
ajfa-15215	422	1	https://doi.org/10.3905/jpm.1985.409007	https://doi.org/10.3905/jpm.1985.409007	VERB
ajfa-15215	422	2	schatzberg	schatzberg	PROPN
ajfa-15215	422	3	,	,	PUNCT
ajfa-15215	422	4	j.d	j.d	PROPN
ajfa-15215	422	5	.	.	PROPN
ajfa-15215	422	6	,	,	PUNCT
ajfa-15215	422	7	&	&	CCONJ
ajfa-15215	422	8	vora	vora	PROPN
ajfa-15215	422	9	,	,	PUNCT
ajfa-15215	422	10	g.	g.	PROPN
ajfa-15215	422	11	(	(	PUNCT
ajfa-15215	422	12	2009	2009	NUM
ajfa-15215	422	13	)	)	PUNCT
ajfa-15215	422	14	.	.	PUNCT
ajfa-15215	423	1	peg	peg	NOUN
ajfa-15215	423	2	investing	investing	NOUN
ajfa-15215	423	3	strategy	strategy	NOUN
ajfa-15215	423	4	:	:	PUNCT
ajfa-15215	423	5	a	a	DET
ajfa-15215	423	6	revisit	revisit	NOUN
ajfa-15215	423	7	.	.	PUNCT
ajfa-15215	424	1	quarterly	quarterly	ADJ
ajfa-15215	424	2	journal	journal	NOUN
ajfa-15215	424	3	of	of	ADP
ajfa-15215	424	4	finance	finance	NOUN
ajfa-15215	424	5	and	and	CCONJ
ajfa-15215	424	6	accounting	accounting	NOUN
ajfa-15215	424	7	,	,	PUNCT
ajfa-15215	424	8	48(2	48(2	NUM
ajfa-15215	424	9	)	)	PUNCT
ajfa-15215	424	10	,	,	PUNCT
ajfa-15215	424	11	5	5	NUM
ajfa-15215	424	12	-	-	SYM
ajfa-15215	424	13	22	22	NUM
ajfa-15215	424	14	.	.	PUNCT
ajfa-15215	425	1	sehgal	sehgal	PROPN
ajfa-15215	425	2	,	,	PUNCT
ajfa-15215	425	3	s.	s.	PROPN
ajfa-15215	425	4	,	,	PUNCT
ajfa-15215	425	5	&	&	CCONJ
ajfa-15215	425	6	balakrishnan	balakrishnan	PROPN
ajfa-15215	425	7	,	,	PUNCT
ajfa-15215	425	8	a.	a.	PROPN
ajfa-15215	425	9	(	(	PUNCT
ajfa-15215	425	10	2013	2013	NUM
ajfa-15215	425	11	)	)	PUNCT
ajfa-15215	425	12	.	.	PUNCT
ajfa-15215	426	1	robustness	robustness	NOUN
ajfa-15215	426	2	of	of	ADP
ajfa-15215	426	3	fama	fama	NOUN
ajfa-15215	426	4	-	-	PUNCT
ajfa-15215	426	5	french	french	ADJ
ajfa-15215	426	6	three	three	NUM
ajfa-15215	426	7	factor	factor	NOUN
ajfa-15215	426	8	model	model	NOUN
ajfa-15215	426	9	:	:	PUNCT
ajfa-15215	426	10	further	further	ADJ
ajfa-15215	426	11	evidence	evidence	NOUN
ajfa-15215	426	12	for	for	ADP
ajfa-15215	426	13	indian	indian	ADJ
ajfa-15215	426	14	stock	stock	NOUN
ajfa-15215	426	15	market	market	NOUN
ajfa-15215	426	16	.	.	PUNCT
ajfa-15215	427	1	vision	vision	NOUN
ajfa-15215	427	2	-	-	PUNCT
ajfa-15215	427	3	the	the	DET
ajfa-15215	427	4	journal	journal	NOUN
ajfa-15215	427	5	of	of	ADP
ajfa-15215	427	6	business	business	PROPN
ajfa-15215	427	7	perspective	perspective	NOUN
ajfa-15215	427	8	,	,	PUNCT
ajfa-15215	427	9	17(2	17(2	NUM
ajfa-15215	427	10	)	)	PUNCT
ajfa-15215	427	11	,	,	PUNCT
ajfa-15215	427	12	119	119	NUM
ajfa-15215	427	13	-	-	SYM
ajfa-15215	427	14	127	127	NUM
ajfa-15215	427	15	.	.	PUNCT
ajfa-15215	428	1	https://doi.org/10.1177/0972262912483526	https://doi.org/10.1177/0972262912483526	ADJ
ajfa-15215	428	2	sehgal	sehgal	ADJ
ajfa-15215	428	3	,	,	PUNCT
ajfa-15215	428	4	s.	s.	PROPN
ajfa-15215	428	5	,	,	PUNCT
ajfa-15215	428	6	&	&	CCONJ
ajfa-15215	428	7	pandey	pandey	PROPN
ajfa-15215	428	8	,	,	PUNCT
ajfa-15215	428	9	a.	a.	PROPN
ajfa-15215	428	10	(	(	PUNCT
ajfa-15215	428	11	2014	2014	NUM
ajfa-15215	428	12	)	)	PUNCT
ajfa-15215	428	13	.	.	PUNCT
ajfa-15215	429	1	profitable	profitable	ADJ
ajfa-15215	429	2	trading	trading	NOUN
ajfa-15215	429	3	strategies	strategy	NOUN
ajfa-15215	429	4	based	base	VERB
ajfa-15215	429	5	on	on	ADP
ajfa-15215	429	6	price	price	NOUN
ajfa-15215	429	7	multiple	multiple	ADJ
ajfa-15215	429	8	information	information	NOUN
ajfa-15215	429	9	:	:	PUNCT
ajfa-15215	429	10	evidence	evidence	NOUN
ajfa-15215	429	11	from	from	ADP
ajfa-15215	429	12	india	india	PROPN
ajfa-15215	429	13	.	.	PUNCT
ajfa-15215	430	1	afro	afro	NOUN
ajfa-15215	430	2	-	-	PUNCT
ajfa-15215	430	3	asian	asian	ADJ
ajfa-15215	430	4	journal	journal	NOUN
ajfa-15215	430	5	of	of	ADP
ajfa-15215	430	6	finance	finance	NOUN
ajfa-15215	430	7	and	and	CCONJ
ajfa-15215	430	8	accounting	accounting	NOUN
ajfa-15215	430	9	,	,	PUNCT
ajfa-15215	430	10	4(4	4(4	NUM
ajfa-15215	430	11	)	)	PUNCT
ajfa-15215	430	12	,	,	PUNCT
ajfa-15215	430	13	408425	408425	NUM
ajfa-15215	430	14	.	.	PUNCT
ajfa-15215	431	1	https://doi.org/10.1504/aajfa.2014.067015	https://doi.org/10.1504/aajfa.2014.067015	PROPN
ajfa-15215	431	2	sehgal	sehgal	PROPN
ajfa-15215	431	3	,	,	PUNCT
ajfa-15215	431	4	s.	s.	PROPN
ajfa-15215	431	5	,	,	PUNCT
ajfa-15215	431	6	&	&	CCONJ
ajfa-15215	431	7	tripathi	tripathi	PROPN
ajfa-15215	431	8	,	,	PUNCT
ajfa-15215	431	9	v.	v.	PROPN
ajfa-15215	431	10	(	(	PUNCT
ajfa-15215	431	11	2007	2007	NUM
ajfa-15215	431	12	)	)	PUNCT
ajfa-15215	431	13	.	.	PUNCT
ajfa-15215	432	1	value	value	NOUN
ajfa-15215	432	2	effect	effect	NOUN
ajfa-15215	432	3	in	in	ADP
ajfa-15215	432	4	indian	indian	ADJ
ajfa-15215	432	5	stock	stock	NOUN
ajfa-15215	432	6	market	market	NOUN
ajfa-15215	432	7	’	'	PUNCT
ajfa-15215	432	8	.	.	PUNCT
ajfa-15215	433	1	the	the	DET
ajfa-15215	433	2	icfai	icfai	NUM
ajfa-15215	433	3	journal	journal	NOUN
ajfa-15215	433	4	of	of	ADP
ajfa-15215	433	5	applied	apply	VERB
ajfa-15215	433	6	finance	finance	NOUN
ajfa-15215	433	7	,	,	PUNCT
ajfa-15215	433	8	13(1	13(1	NUM
ajfa-15215	433	9	)	)	PUNCT
ajfa-15215	433	10	,	,	PUNCT
ajfa-15215	433	11	23	23	NUM
ajfa-15215	433	12	-	-	SYM
ajfa-15215	433	13	36	36	NUM
ajfa-15215	433	14	.	.	PUNCT
ajfa-15215	434	1	sehgal	sehgal	PROPN
ajfa-15215	434	2	,	,	PUNCT
ajfa-15215	434	3	s.	s.	PROPN
ajfa-15215	434	4	,	,	PUNCT
ajfa-15215	434	5	&	&	CCONJ
ajfa-15215	434	6	vasishth	vasishth	PROPN
ajfa-15215	434	7	,	,	PUNCT
ajfa-15215	434	8	v.	v.	PROPN
ajfa-15215	434	9	(	(	PUNCT
ajfa-15215	434	10	2015	2015	NUM
ajfa-15215	434	11	)	)	PUNCT
ajfa-15215	434	12	.	.	PUNCT
ajfa-15215	435	1	past	past	ADJ
ajfa-15215	435	2	price	price	NOUN
ajfa-15215	435	3	changes	change	NOUN
ajfa-15215	435	4	,	,	PUNCT
ajfa-15215	435	5	trading	trading	NOUN
ajfa-15215	435	6	volume	volume	NOUN
ajfa-15215	435	7	and	and	CCONJ
ajfa-15215	435	8	prediction	prediction	NOUN
ajfa-15215	435	9	of	of	ADP
ajfa-15215	435	10	portfolio	portfolio	NOUN
ajfa-15215	435	11	returns	return	NOUN
ajfa-15215	435	12	:	:	PUNCT
ajfa-15215	435	13	evidence	evidence	NOUN
ajfa-15215	435	14	from	from	ADP
ajfa-15215	435	15	select	select	ADJ
ajfa-15215	435	16	emerging	emerge	VERB
ajfa-15215	435	17	markets	market	NOUN
ajfa-15215	435	18	.	.	PUNCT
ajfa-15215	436	1	journal	journal	NOUN
ajfa-15215	436	2	of	of	ADP
ajfa-15215	436	3	advances	advance	NOUN
ajfa-15215	436	4	in	in	ADP
ajfa-15215	436	5	management	management	NOUN
ajfa-15215	436	6	research	research	NOUN
ajfa-15215	436	7	,	,	PUNCT
ajfa-15215	436	8	12(3	12(3	NUM
ajfa-15215	436	9	)	)	PUNCT
ajfa-15215	436	10	,	,	PUNCT
ajfa-15215	436	11	330	330	NUM
ajfa-15215	436	12	-	-	SYM
ajfa-15215	436	13	356	356	NUM
ajfa-15215	436	14	.	.	PUNCT
ajfa-15215	437	1	https://doi.org/10.1108/jamr-10-2014-0056	https://doi.org/10.1108/jamr-10-2014-0056	PROPN
ajfa-15215	437	2	sehgal	sehgal	PROPN
ajfa-15215	437	3	,	,	PUNCT
ajfa-15215	437	4	s.	s.	PROPN
ajfa-15215	437	5	,	,	PUNCT
ajfa-15215	437	6	gupta	gupta	PROPN
ajfa-15215	437	7	,	,	PUNCT
ajfa-15215	437	8	p.	p.	NOUN
ajfa-15215	437	9	,	,	PUNCT
ajfa-15215	437	10	&	&	CCONJ
ajfa-15215	437	11	deisting	deisting	PROPN
ajfa-15215	437	12	,	,	PUNCT
ajfa-15215	437	13	f.	f.	PROPN
ajfa-15215	437	14	(	(	PUNCT
ajfa-15215	437	15	2016	2016	NUM
ajfa-15215	437	16	)	)	PUNCT
ajfa-15215	437	17	.	.	PUNCT
ajfa-15215	438	1	assessing	assess	VERB
ajfa-15215	438	2	time	time	NOUN
ajfa-15215	438	3	varying	vary	VERB
ajfa-15215	438	4	stock	stock	NOUN
ajfa-15215	438	5	market	market	NOUN
ajfa-15215	438	6	integration	integration	NOUN
ajfa-15215	438	7	in	in	ADP
ajfa-15215	438	8	economic	economic	ADJ
ajfa-15215	438	9	and	and	CCONJ
ajfa-15215	438	10	monetary	monetary	ADJ
ajfa-15215	438	11	union	union	NOUN
ajfa-15215	438	12	for	for	ADP
ajfa-15215	438	13	normal	normal	ADJ
ajfa-15215	438	14	and	and	CCONJ
ajfa-15215	438	15	crisis	crisis	NOUN
ajfa-15215	438	16	periods	period	NOUN
ajfa-15215	438	17	.	.	PUNCT
ajfa-15215	439	1	the	the	DET
ajfa-15215	439	2	european	european	PROPN
ajfa-15215	439	3	journal	journal	PROPN
ajfa-15215	439	4	of	of	ADP
ajfa-15215	439	5	finance	finance	NOUN
ajfa-15215	439	6	,	,	PUNCT
ajfa-15215	439	7	23(11	23(11	NUM
ajfa-15215	439	8	)	)	PUNCT
ajfa-15215	439	9	,	,	PUNCT
ajfa-15215	439	10	1025	1025	NUM
ajfa-15215	439	11	-	-	SYM
ajfa-15215	439	12	1058	1058	NUM
ajfa-15215	439	13	.	.	PUNCT
ajfa-15215	440	1	https://doi.org/10.1080/1351847x.2016.1158727	https://doi.org/10.1080/1351847x.2016.1158727	PROPN
ajfa-15215	440	2	stattman	stattman	PROPN
ajfa-15215	440	3	,	,	PUNCT
ajfa-15215	440	4	d.	d.	PROPN
ajfa-15215	440	5	(	(	PUNCT
ajfa-15215	440	6	1980	1980	NUM
ajfa-15215	440	7	)	)	PUNCT
ajfa-15215	440	8	.	.	PUNCT
ajfa-15215	441	1	book	book	NOUN
ajfa-15215	441	2	values	value	NOUN
ajfa-15215	441	3	and	and	CCONJ
ajfa-15215	441	4	stock	stock	NOUN
ajfa-15215	441	5	returns	return	NOUN
ajfa-15215	441	6	.	.	PUNCT
ajfa-15215	442	1	the	the	DET
ajfa-15215	442	2	chicago	chicago	PROPN
ajfa-15215	442	3	mba	mba	PROPN
ajfa-15215	442	4	:	:	PUNCT
ajfa-15215	442	5	a	a	DET
ajfa-15215	442	6	journal	journal	NOUN
ajfa-15215	442	7	of	of	ADP
ajfa-15215	442	8	selected	select	VERB
ajfa-15215	442	9	papers	paper	NOUN
ajfa-15215	442	10	,	,	PUNCT
ajfa-15215	442	11	4	4	NUM
ajfa-15215	442	12	,	,	PUNCT
ajfa-15215	442	13	25	25	NUM
ajfa-15215	442	14	-	-	SYM
ajfa-15215	442	15	45	45	NUM
ajfa-15215	442	16	.	.	PUNCT
ajfa-15215	443	1	subramaniam	subramaniam	PROPN
ajfa-15215	443	2	,	,	PUNCT
ajfa-15215	443	3	s.	s.	PROPN
ajfa-15215	443	4	,	,	PUNCT
ajfa-15215	443	5	sharma	sharma	PROPN
ajfa-15215	443	6	,	,	PUNCT
ajfa-15215	443	7	g.	g.	PROPN
ajfa-15215	443	8	,	,	PUNCT
ajfa-15215	443	9	&	&	CCONJ
ajfa-15215	443	10	sehgal	sehgal	PROPN
ajfa-15215	443	11	,	,	PUNCT
ajfa-15215	443	12	s.	s.	PROPN
ajfa-15215	443	13	(	(	PUNCT
ajfa-15215	443	14	2017	2017	NUM
ajfa-15215	443	15	)	)	PUNCT
ajfa-15215	443	16	.	.	PUNCT
ajfa-15215	444	1	profitability	profitability	NOUN
ajfa-15215	444	2	of	of	ADP
ajfa-15215	444	3	style	style	NOUN
ajfa-15215	444	4	based	base	VERB
ajfa-15215	444	5	investment	investment	NOUN
ajfa-15215	444	6	strategies	strategy	NOUN
ajfa-15215	444	7	:	:	PUNCT
ajfa-15215	444	8	evidence	evidence	NOUN
ajfa-15215	444	9	from	from	ADP
ajfa-15215	444	10	india	india	PROPN
ajfa-15215	444	11	.	.	PUNCT
ajfa-15215	445	1	asian	asian	PROPN
ajfa-15215	445	2	journal	journal	PROPN
ajfa-15215	445	3	of	of	ADP
ajfa-15215	445	4	finance	finance	PROPN
ajfa-15215	445	5	&	&	CCONJ
ajfa-15215	445	6	accounting	accounting	PROPN
ajfa-15215	445	7	,	,	PUNCT
ajfa-15215	445	8	9(2	9(2	NUM
ajfa-15215	445	9	)	)	PUNCT
ajfa-15215	445	10	,	,	PUNCT
ajfa-15215	445	11	1	1	NUM
ajfa-15215	445	12	-	-	SYM
ajfa-15215	445	13	27	27	NUM
ajfa-15215	445	14	.	.	PUNCT
ajfa-15215	446	1	https://doi.org/10.5296/ajfa.v9i2.11456	https://doi.org/10.5296/ajfa.v9i2.11456	NOUN
ajfa-15215	446	2	trichet	trichet	NOUN
ajfa-15215	446	3	,	,	PUNCT
ajfa-15215	446	4	j.c	j.c	PROPN
ajfa-15215	446	5	.	.	PROPN
ajfa-15215	446	6	(	(	PUNCT
ajfa-15215	446	7	2010	2010	NUM
ajfa-15215	446	8	)	)	PUNCT
ajfa-15215	446	9	.	.	PUNCT
ajfa-15215	447	1	state	state	NOUN
ajfa-15215	447	2	of	of	ADP
ajfa-15215	447	3	the	the	DET
ajfa-15215	447	4	union	union	NOUN
ajfa-15215	447	5	:	:	PUNCT
ajfa-15215	447	6	the	the	DET
ajfa-15215	447	7	financial	financial	ADJ
ajfa-15215	447	8	crisis	crisis	NOUN
ajfa-15215	447	9	and	and	CCONJ
ajfa-15215	447	10	the	the	DET
ajfa-15215	447	11	ecb	ecb	NOUN
ajfa-15215	447	12	’s	’s	PART
ajfa-15215	447	13	response	response	NOUN
ajfa-15215	447	14	between	between	ADP
ajfa-15215	447	15	asian	asian	ADJ
ajfa-15215	447	16	journal	journal	NOUN
ajfa-15215	447	17	of	of	ADP
ajfa-15215	447	18	finance	finance	PROPN
ajfa-15215	447	19	&	&	CCONJ
ajfa-15215	447	20	accounting	accounting	PROPN
ajfa-15215	447	21	issn	issn	PROPN
ajfa-15215	447	22	1946	1946	NUM
ajfa-15215	447	23	-	-	PUNCT
ajfa-15215	447	24	052x	052x	PROPN
ajfa-15215	447	25	2019	2019	NUM
ajfa-15215	447	26	,	,	PUNCT
ajfa-15215	447	27	vol	vol	NOUN
ajfa-15215	447	28	.	.	PROPN
ajfa-15215	447	29	11	11	NUM
ajfa-15215	447	30	,	,	PUNCT
ajfa-15215	447	31	no	no	INTJ
ajfa-15215	447	32	.	.	NOUN
ajfa-15215	447	33	2	2	NUM
ajfa-15215	447	34	ajfa.macrothink.org/	ajfa.macrothink.org/	NOUN
ajfa-15215	447	35	64	64	NUM
ajfa-15215	447	36	2007	2007	NUM
ajfa-15215	447	37	and	and	CCONJ
ajfa-15215	447	38	2009	2009	NUM
ajfa-15215	447	39	.	.	PUNCT
ajfa-15215	448	1	journal	journal	NOUN
ajfa-15215	448	2	of	of	ADP
ajfa-15215	448	3	common	common	ADJ
ajfa-15215	448	4	market	market	NOUN
ajfa-15215	448	5	studies	study	NOUN
ajfa-15215	448	6	,	,	PUNCT
ajfa-15215	448	7	48(1	48(1	NOUN
ajfa-15215	448	8	)	)	PUNCT
ajfa-15215	448	9	,	,	PUNCT
ajfa-15215	448	10	7	7	NUM
ajfa-15215	448	11	-	-	SYM
ajfa-15215	448	12	19	19	NUM
ajfa-15215	448	13	.	.	PUNCT
ajfa-15215	448	14	https://doi.org/10.1111/j.1468-5965.2010.02091.x	https://doi.org/10.1111/j.1468-5965.2010.02091.x	NOUN
ajfa-15215	448	15	veronesi	veronesi	NOUN
ajfa-15215	448	16	,	,	PUNCT
ajfa-15215	448	17	p.	p.	NOUN
ajfa-15215	448	18	(	(	PUNCT
ajfa-15215	448	19	1999	1999	NUM
ajfa-15215	448	20	)	)	PUNCT
ajfa-15215	448	21	.	.	PUNCT
ajfa-15215	449	1	stock	stock	NOUN
ajfa-15215	449	2	market	market	NOUN
ajfa-15215	449	3	overreaction	overreaction	NOUN
ajfa-15215	449	4	to	to	ADP
ajfa-15215	449	5	bad	bad	ADJ
ajfa-15215	449	6	news	news	NOUN
ajfa-15215	449	7	in	in	ADP
ajfa-15215	449	8	good	good	ADJ
ajfa-15215	449	9	times	time	NOUN
ajfa-15215	449	10	:	:	PUNCT
ajfa-15215	449	11	a	a	DET
ajfa-15215	449	12	rational	rational	ADJ
ajfa-15215	449	13	expectations	expectation	NOUN
ajfa-15215	449	14	equilibrium	equilibrium	NOUN
ajfa-15215	449	15	model	model	NOUN
ajfa-15215	449	16	.	.	PUNCT
ajfa-15215	450	1	review	review	NOUN
ajfa-15215	450	2	of	of	ADP
ajfa-15215	450	3	financial	financial	ADJ
ajfa-15215	450	4	studies	study	NOUN
ajfa-15215	450	5	,	,	PUNCT
ajfa-15215	450	6	12(5	12(5	NUM
ajfa-15215	450	7	)	)	PUNCT
ajfa-15215	450	8	,	,	PUNCT
ajfa-15215	450	9	975	975	NUM
ajfa-15215	450	10	-	-	SYM
ajfa-15215	450	11	1007	1007	NUM
ajfa-15215	450	12	.	.	PUNCT
ajfa-15215	451	1	https://doi.org/10.1093/rfs/12.5.975	https://doi.org/10.1093/rfs/12.5.975	NOUN