id	sid	tid	token	lemma	pos
ajfa-2165	1	1	microsoft	microsoft	PROPN
ajfa-2165	1	2	word	word	NOUN
ajfa-2165	1	3	2165-8496-1-rv-new.doc	2165-8496-1-rv-new.doc	NUM
ajfa-2165	1	4	asian	asian	ADJ
ajfa-2165	1	5	journal	journal	NOUN
ajfa-2165	1	6	of	of	ADP
ajfa-2165	1	7	finance	finance	PROPN
ajfa-2165	1	8	&	&	CCONJ
ajfa-2165	1	9	accounting	accounting	PROPN
ajfa-2165	1	10	issn	issn	PROPN
ajfa-2165	1	11	1946	1946	NUM
ajfa-2165	1	12	-	-	PUNCT
ajfa-2165	1	13	052x	052x	NOUN
ajfa-2165	1	14	2013	2013	NUM
ajfa-2165	1	15	,	,	PUNCT
ajfa-2165	1	16	vol	vol	NOUN
ajfa-2165	1	17	.	.	PROPN
ajfa-2165	1	18	5	5	NUM
ajfa-2165	1	19	,	,	PUNCT
ajfa-2165	1	20	no	no	INTJ
ajfa-2165	1	21	.	.	NOUN
ajfa-2165	1	22	1	1	NUM
ajfa-2165	1	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	1	24	289	289	NUM
ajfa-2165	1	25	futures	future	NOUN
ajfa-2165	1	26	trading	trading	NOUN
ajfa-2165	1	27	and	and	CCONJ
ajfa-2165	1	28	its	its	PRON
ajfa-2165	1	29	impact	impact	NOUN
ajfa-2165	1	30	on	on	ADP
ajfa-2165	1	31	volatility	volatility	NOUN
ajfa-2165	1	32	of	of	ADP
ajfa-2165	1	33	indian	indian	ADJ
ajfa-2165	1	34	stock	stock	NOUN
ajfa-2165	1	35	market	market	NOUN
ajfa-2165	1	36	namita	namita	NOUN
ajfa-2165	1	37	rajput	rajput	PROPN
ajfa-2165	1	38	e	e	PROPN
ajfa-2165	1	39	-	-	NOUN
ajfa-2165	1	40	mail	mail	NOUN
ajfa-2165	1	41	:	:	PUNCT
ajfa-2165	1	42	namitarajput27@gmail.com	namitarajput27@gmail.com	X
ajfa-2165	2	1	ruhi	ruhi	PROPN
ajfa-2165	2	2	kakkar	kakkar	PROPN
ajfa-2165	2	3	e	e	PROPN
ajfa-2165	2	4	-	-	NOUN
ajfa-2165	2	5	mail	mail	NOUN
ajfa-2165	2	6	:	:	PUNCT
ajfa-2165	2	7	ruhi.kakkar@gmail.com	ruhi.kakkar@gmail.com	X
ajfa-2165	2	8	geetanjali	geetanjali	VERB
ajfa-2165	2	9	batra	batra	PROPN
ajfa-2165	2	10	e	e	PROPN
ajfa-2165	2	11	-	-	NOUN
ajfa-2165	2	12	mail	mail	NOUN
ajfa-2165	2	13	:	:	PUNCT
ajfa-2165	2	14	ms.geetanjali.batra@gmail.com	ms.geetanjali.batra@gmail.com	PROPN
ajfa-2165	2	15	received	receive	VERB
ajfa-2165	2	16	:	:	PUNCT
ajfa-2165	2	17	july	july	PROPN
ajfa-2165	2	18	29	29	NUM
ajfa-2165	2	19	,	,	PUNCT
ajfa-2165	2	20	2012	2012	NUM
ajfa-2165	2	21	accepted	accept	VERB
ajfa-2165	2	22	:	:	PUNCT
ajfa-2165	2	23	december	december	PROPN
ajfa-2165	2	24	14	14	NUM
ajfa-2165	2	25	,	,	PUNCT
ajfa-2165	2	26	2012	2012	NUM
ajfa-2165	2	27	published	publish	VERB
ajfa-2165	2	28	:	:	PUNCT
ajfa-2165	2	29	june	june	PROPN
ajfa-2165	2	30	1	1	NUM
ajfa-2165	2	31	,	,	PUNCT
ajfa-2165	2	32	2013	2013	NUM
ajfa-2165	2	33	doi:10.5296	doi:10.5296	NOUN
ajfa-2165	2	34	/	/	SYM
ajfa-2165	2	35	ajfa.v5i1.2165	ajfa.v5i1.2165	NUM
ajfa-2165	2	36	url	url	PROPN
ajfa-2165	2	37	:	:	PUNCT
ajfa-2165	2	38	http://dx.doi.org/10.5296/ajfa.v5i1.2165	http://dx.doi.org/10.5296/ajfa.v5i1.2165	PUNCT
ajfa-2165	2	39	abstract	abstract	ADJ
ajfa-2165	2	40	derivative	derivative	ADJ
ajfa-2165	2	41	products	product	NOUN
ajfa-2165	2	42	like	like	ADP
ajfa-2165	2	43	futures	future	NOUN
ajfa-2165	2	44	and	and	CCONJ
ajfa-2165	2	45	options	option	NOUN
ajfa-2165	2	46	are	be	AUX
ajfa-2165	2	47	important	important	ADJ
ajfa-2165	2	48	instruments	instrument	NOUN
ajfa-2165	2	49	of	of	ADP
ajfa-2165	2	50	price	price	NOUN
ajfa-2165	2	51	discovery	discovery	NOUN
ajfa-2165	2	52	,	,	PUNCT
ajfa-2165	2	53	portfolio	portfolio	NOUN
ajfa-2165	2	54	diversification	diversification	NOUN
ajfa-2165	2	55	and	and	CCONJ
ajfa-2165	2	56	risk	risk	NOUN
ajfa-2165	2	57	hedging	hedging	NOUN
ajfa-2165	2	58	.	.	PUNCT
ajfa-2165	3	1	this	this	DET
ajfa-2165	3	2	paper	paper	NOUN
ajfa-2165	3	3	studies	study	VERB
ajfa-2165	3	4	the	the	DET
ajfa-2165	3	5	impact	impact	NOUN
ajfa-2165	3	6	of	of	ADP
ajfa-2165	3	7	introduction	introduction	NOUN
ajfa-2165	3	8	of	of	ADP
ajfa-2165	3	9	index	index	NOUN
ajfa-2165	3	10	futures	future	NOUN
ajfa-2165	3	11	on	on	ADP
ajfa-2165	3	12	spot	spot	NOUN
ajfa-2165	3	13	market	market	NOUN
ajfa-2165	3	14	volatility	volatility	NOUN
ajfa-2165	3	15	on	on	ADP
ajfa-2165	3	16	s&p	s&p	PROPN
ajfa-2165	3	17	cnx	cnx	PROPN
ajfa-2165	3	18	nifty	nifty	ADJ
ajfa-2165	3	19	using	use	VERB
ajfa-2165	3	20	bi	bi	NOUN
ajfa-2165	3	21	-	-	ADJ
ajfa-2165	3	22	variate	variate	ADJ
ajfa-2165	3	23	e	e	ADJ
ajfa-2165	3	24	-	-	ADJ
ajfa-2165	3	25	garch	garch	NOUN
ajfa-2165	3	26	technique	technique	NOUN
ajfa-2165	3	27	.	.	PUNCT
ajfa-2165	4	1	the	the	DET
ajfa-2165	4	2	evidence	evidence	NOUN
ajfa-2165	4	3	of	of	ADP
ajfa-2165	4	4	this	this	DET
ajfa-2165	4	5	model	model	NOUN
ajfa-2165	4	6	shows	show	VERB
ajfa-2165	4	7	that	that	SCONJ
ajfa-2165	4	8	the	the	DET
ajfa-2165	4	9	volatility	volatility	NOUN
ajfa-2165	4	10	spillover	spillover	VERB
ajfa-2165	4	11	between	between	ADP
ajfa-2165	4	12	spot	spot	NOUN
ajfa-2165	4	13	and	and	CCONJ
ajfa-2165	4	14	futures	future	NOUN
ajfa-2165	4	15	markets	market	NOUN
ajfa-2165	4	16	is	be	AUX
ajfa-2165	4	17	uni	uni	ADJ
ajfa-2165	4	18	-	-	ADJ
ajfa-2165	4	19	directional	directional	ADJ
ajfa-2165	4	20	from	from	ADP
ajfa-2165	4	21	spot	spot	NOUN
ajfa-2165	4	22	to	to	ADP
ajfa-2165	4	23	futures	future	NOUN
ajfa-2165	4	24	and	and	CCONJ
ajfa-2165	4	25	spot	spot	NOUN
ajfa-2165	4	26	market	market	NOUN
ajfa-2165	4	27	dominates	dominate	VERB
ajfa-2165	4	28	the	the	DET
ajfa-2165	4	29	futures	future	NOUN
ajfa-2165	4	30	market	market	NOUN
ajfa-2165	4	31	in	in	ADP
ajfa-2165	4	32	terms	term	NOUN
ajfa-2165	4	33	of	of	ADP
ajfa-2165	4	34	return	return	NOUN
ajfa-2165	4	35	and	and	CCONJ
ajfa-2165	4	36	volatility	volatility	NOUN
ajfa-2165	4	37	.	.	PUNCT
ajfa-2165	5	1	the	the	DET
ajfa-2165	5	2	volatility	volatility	NOUN
ajfa-2165	5	3	persistence	persistence	NOUN
ajfa-2165	5	4	and	and	CCONJ
ajfa-2165	5	5	clustering	clustering	NOUN
ajfa-2165	5	6	is	be	AUX
ajfa-2165	5	7	found	find	VERB
ajfa-2165	5	8	to	to	PART
ajfa-2165	5	9	be	be	AUX
ajfa-2165	5	10	significant	significant	ADJ
ajfa-2165	5	11	and	and	CCONJ
ajfa-2165	5	12	bidirectional	bidirectional	ADJ
ajfa-2165	5	13	at	at	ADP
ajfa-2165	5	14	5	5	NUM
ajfa-2165	5	15	%	%	NOUN
ajfa-2165	5	16	level	level	NOUN
ajfa-2165	5	17	of	of	ADP
ajfa-2165	5	18	significance	significance	NOUN
ajfa-2165	5	19	.	.	PUNCT
ajfa-2165	6	1	at	at	ADP
ajfa-2165	6	2	the	the	DET
ajfa-2165	6	3	practical	practical	ADJ
ajfa-2165	6	4	level	level	NOUN
ajfa-2165	6	5	,	,	PUNCT
ajfa-2165	6	6	a	a	DET
ajfa-2165	6	7	better	well	ADJ
ajfa-2165	6	8	understanding	understanding	NOUN
ajfa-2165	6	9	of	of	ADP
ajfa-2165	6	10	the	the	DET
ajfa-2165	6	11	mean	mean	ADJ
ajfa-2165	6	12	and	and	CCONJ
ajfa-2165	6	13	variance	variance	NOUN
ajfa-2165	6	14	dynamics	dynamic	NOUN
ajfa-2165	6	15	of	of	ADP
ajfa-2165	6	16	the	the	DET
ajfa-2165	6	17	spot	spot	NOUN
ajfa-2165	6	18	and	and	CCONJ
ajfa-2165	6	19	futures	future	NOUN
ajfa-2165	6	20	market	market	NOUN
ajfa-2165	6	21	can	can	AUX
ajfa-2165	6	22	improve	improve	VERB
ajfa-2165	6	23	risk	risk	NOUN
ajfa-2165	6	24	management	management	NOUN
ajfa-2165	6	25	and	and	CCONJ
ajfa-2165	6	26	investment	investment	NOUN
ajfa-2165	6	27	decisions	decision	NOUN
ajfa-2165	6	28	of	of	ADP
ajfa-2165	6	29	the	the	DET
ajfa-2165	6	30	market	market	NOUN
ajfa-2165	6	31	agents	agent	NOUN
ajfa-2165	6	32	.	.	PUNCT
ajfa-2165	7	1	the	the	DET
ajfa-2165	7	2	findings	finding	NOUN
ajfa-2165	7	3	have	have	VERB
ajfa-2165	7	4	implications	implication	NOUN
ajfa-2165	7	5	for	for	ADP
ajfa-2165	7	6	policy	policy	NOUN
ajfa-2165	7	7	makers	maker	NOUN
ajfa-2165	7	8	,	,	PUNCT
ajfa-2165	7	9	hedgers	hedger	NOUN
ajfa-2165	7	10	and	and	CCONJ
ajfa-2165	7	11	investors	investor	NOUN
ajfa-2165	7	12	.	.	PUNCT
ajfa-2165	8	1	the	the	DET
ajfa-2165	8	2	research	research	NOUN
ajfa-2165	8	3	contributes	contribute	VERB
ajfa-2165	8	4	to	to	ADP
ajfa-2165	8	5	literature	literature	NOUN
ajfa-2165	8	6	for	for	ADP
ajfa-2165	8	7	emerging	emerge	VERB
ajfa-2165	8	8	markets	market	NOUN
ajfa-2165	8	9	such	such	ADJ
ajfa-2165	8	10	as	as	ADP
ajfa-2165	8	11	india	india	PROPN
ajfa-2165	8	12	.	.	PUNCT
ajfa-2165	9	1	keywords	keyword	NOUN
ajfa-2165	9	2	:	:	PUNCT
ajfa-2165	9	3	derivatives	derivative	NOUN
ajfa-2165	9	4	,	,	PUNCT
ajfa-2165	9	5	index	index	NOUN
ajfa-2165	9	6	futures	future	NOUN
ajfa-2165	9	7	,	,	PUNCT
ajfa-2165	9	8	stock	stock	NOUN
ajfa-2165	9	9	markets	market	NOUN
ajfa-2165	9	10	,	,	PUNCT
ajfa-2165	9	11	volatility	volatility	NOUN
ajfa-2165	9	12	,	,	PUNCT
ajfa-2165	9	13	arch	arch	ADJ
ajfa-2165	9	14	-	-	PUNCT
ajfa-2165	9	15	garch	garch	NOUN
ajfa-2165	9	16	,	,	PUNCT
ajfa-2165	9	17	spillover	spillover	VERB
ajfa-2165	9	18	jel	jel	NOUN
ajfa-2165	9	19	classification	classification	NOUN
ajfa-2165	9	20	:	:	PUNCT
ajfa-2165	9	21	g1	g1	PROPN
ajfa-2165	9	22	,	,	PUNCT
ajfa-2165	9	23	g13	g13	NOUN
ajfa-2165	9	24	,	,	PUNCT
ajfa-2165	9	25	g14	g14	PROPN
ajfa-2165	9	26	,	,	PUNCT
ajfa-2165	9	27	g15	g15	PROPN
ajfa-2165	9	28	,	,	PUNCT
ajfa-2165	9	29	g18	g18	PROPN
ajfa-2165	9	30	,	,	PUNCT
ajfa-2165	9	31	c32	c32	NOUN
ajfa-2165	9	32	asian	asian	ADJ
ajfa-2165	9	33	journal	journal	PROPN
ajfa-2165	9	34	of	of	ADP
ajfa-2165	9	35	finance	finance	PROPN
ajfa-2165	9	36	&	&	CCONJ
ajfa-2165	9	37	accounting	accounting	PROPN
ajfa-2165	9	38	issn	issn	PROPN
ajfa-2165	9	39	1946	1946	NUM
ajfa-2165	9	40	-	-	PUNCT
ajfa-2165	9	41	052x	052x	NOUN
ajfa-2165	9	42	2013	2013	NUM
ajfa-2165	9	43	,	,	PUNCT
ajfa-2165	9	44	vol	vol	NOUN
ajfa-2165	9	45	.	.	PROPN
ajfa-2165	9	46	5	5	NUM
ajfa-2165	9	47	,	,	PUNCT
ajfa-2165	9	48	no	no	INTJ
ajfa-2165	9	49	.	.	NOUN
ajfa-2165	9	50	1	1	NUM
ajfa-2165	9	51	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	9	52	290	290	NUM
ajfa-2165	9	53	introduction	introduction	NOUN
ajfa-2165	9	54	the	the	DET
ajfa-2165	9	55	liberalization	liberalization	NOUN
ajfa-2165	9	56	and	and	CCONJ
ajfa-2165	9	57	integration	integration	NOUN
ajfa-2165	9	58	of	of	ADP
ajfa-2165	9	59	financial	financial	ADJ
ajfa-2165	9	60	markets	market	NOUN
ajfa-2165	9	61	globally	globally	ADV
ajfa-2165	9	62	has	have	AUX
ajfa-2165	9	63	created	create	VERB
ajfa-2165	9	64	new	new	ADJ
ajfa-2165	9	65	investment	investment	NOUN
ajfa-2165	9	66	opportunities	opportunity	NOUN
ajfa-2165	9	67	,	,	PUNCT
ajfa-2165	9	68	which	which	PRON
ajfa-2165	9	69	in	in	ADP
ajfa-2165	9	70	turn	turn	NOUN
ajfa-2165	9	71	require	require	VERB
ajfa-2165	9	72	the	the	DET
ajfa-2165	9	73	development	development	NOUN
ajfa-2165	9	74	of	of	ADP
ajfa-2165	9	75	new	new	ADJ
ajfa-2165	9	76	instruments	instrument	NOUN
ajfa-2165	9	77	that	that	PRON
ajfa-2165	9	78	are	be	AUX
ajfa-2165	9	79	more	more	ADV
ajfa-2165	9	80	proficient	proficient	ADJ
ajfa-2165	9	81	to	to	PART
ajfa-2165	9	82	deal	deal	VERB
ajfa-2165	9	83	with	with	ADP
ajfa-2165	9	84	the	the	DET
ajfa-2165	9	85	increased	increase	VERB
ajfa-2165	9	86	risks	risk	NOUN
ajfa-2165	9	87	.	.	PUNCT
ajfa-2165	10	1	investors	investor	NOUN
ajfa-2165	10	2	who	who	PRON
ajfa-2165	10	3	are	be	AUX
ajfa-2165	10	4	actively	actively	ADV
ajfa-2165	10	5	engaged	engage	VERB
ajfa-2165	10	6	in	in	ADP
ajfa-2165	10	7	industrial	industrial	ADJ
ajfa-2165	10	8	and	and	CCONJ
ajfa-2165	10	9	emerging	emerge	VERB
ajfa-2165	10	10	markets	market	NOUN
ajfa-2165	10	11	need	need	VERB
ajfa-2165	10	12	to	to	PART
ajfa-2165	10	13	hedge	hedge	VERB
ajfa-2165	10	14	their	their	PRON
ajfa-2165	10	15	risks	risk	NOUN
ajfa-2165	10	16	from	from	ADP
ajfa-2165	10	17	these	these	DET
ajfa-2165	10	18	internal	internal	ADJ
ajfa-2165	10	19	as	as	ADV
ajfa-2165	10	20	well	well	ADV
ajfa-2165	10	21	as	as	ADP
ajfa-2165	10	22	cross	cross	ADJ
ajfa-2165	10	23	-	-	ADJ
ajfa-2165	10	24	border	border	ADJ
ajfa-2165	10	25	transactions	transaction	NOUN
ajfa-2165	10	26	.	.	PUNCT
ajfa-2165	11	1	agents	agent	NOUN
ajfa-2165	11	2	in	in	ADP
ajfa-2165	11	3	liberalized	liberalize	VERB
ajfa-2165	11	4	market	market	NOUN
ajfa-2165	11	5	economies	economy	NOUN
ajfa-2165	11	6	who	who	PRON
ajfa-2165	11	7	are	be	AUX
ajfa-2165	11	8	exposed	expose	VERB
ajfa-2165	11	9	to	to	ADP
ajfa-2165	11	10	volatile	volatile	ADJ
ajfa-2165	11	11	stock	stock	NOUN
ajfa-2165	11	12	prices	price	NOUN
ajfa-2165	11	13	and	and	CCONJ
ajfa-2165	11	14	interest	interest	NOUN
ajfa-2165	11	15	rate	rate	NOUN
ajfa-2165	11	16	changes	change	NOUN
ajfa-2165	11	17	entail	entail	VERB
ajfa-2165	11	18	suitable	suitable	ADJ
ajfa-2165	11	19	hedging	hedging	NOUN
ajfa-2165	11	20	products	product	NOUN
ajfa-2165	11	21	to	to	PART
ajfa-2165	11	22	pact	pact	VERB
ajfa-2165	11	23	with	with	ADP
ajfa-2165	11	24	them	they	PRON
ajfa-2165	11	25	.	.	PUNCT
ajfa-2165	12	1	with	with	ADP
ajfa-2165	12	2	the	the	DET
ajfa-2165	12	3	advent	advent	NOUN
ajfa-2165	12	4	of	of	ADP
ajfa-2165	12	5	liberalisation	liberalisation	NOUN
ajfa-2165	12	6	and	and	CCONJ
ajfa-2165	12	7	economic	economic	ADJ
ajfa-2165	12	8	expansion	expansion	NOUN
ajfa-2165	12	9	in	in	ADP
ajfa-2165	12	10	these	these	DET
ajfa-2165	12	11	emerging	emerge	VERB
ajfa-2165	12	12	economies	economy	NOUN
ajfa-2165	12	13	demands	demand	VERB
ajfa-2165	12	14	that	that	SCONJ
ajfa-2165	12	15	corporations	corporation	NOUN
ajfa-2165	12	16	should	should	AUX
ajfa-2165	12	17	discover	discover	VERB
ajfa-2165	12	18	better	well	ADJ
ajfa-2165	12	19	ways	way	NOUN
ajfa-2165	12	20	to	to	PART
ajfa-2165	12	21	manage	manage	VERB
ajfa-2165	12	22	financial	financial	ADJ
ajfa-2165	12	23	and	and	CCONJ
ajfa-2165	12	24	commodity	commodity	NOUN
ajfa-2165	12	25	risks	risk	NOUN
ajfa-2165	12	26	.	.	PUNCT
ajfa-2165	13	1	the	the	DET
ajfa-2165	13	2	most	most	ADV
ajfa-2165	13	3	wanted	wanted	ADJ
ajfa-2165	13	4	instruments	instrument	NOUN
ajfa-2165	13	5	that	that	PRON
ajfa-2165	13	6	allow	allow	VERB
ajfa-2165	13	7	market	market	NOUN
ajfa-2165	13	8	participants	participant	NOUN
ajfa-2165	13	9	to	to	PART
ajfa-2165	13	10	manage	manage	VERB
ajfa-2165	13	11	risk	risk	NOUN
ajfa-2165	13	12	in	in	ADP
ajfa-2165	13	13	the	the	DET
ajfa-2165	13	14	modern	modern	ADJ
ajfa-2165	13	15	securities	security	NOUN
ajfa-2165	13	16	trading	trading	NOUN
ajfa-2165	13	17	are	be	AUX
ajfa-2165	13	18	known	know	VERB
ajfa-2165	13	19	as	as	ADP
ajfa-2165	13	20	derivatives	derivative	NOUN
ajfa-2165	13	21	which	which	PRON
ajfa-2165	13	22	are	be	AUX
ajfa-2165	13	23	a	a	DET
ajfa-2165	13	24	new	new	ADJ
ajfa-2165	13	25	advent	advent	NOUN
ajfa-2165	13	26	in	in	ADP
ajfa-2165	13	27	developing	develop	VERB
ajfa-2165	13	28	countries	country	NOUN
ajfa-2165	13	29	compared	compare	VERB
ajfa-2165	13	30	to	to	ADP
ajfa-2165	13	31	developed	develop	VERB
ajfa-2165	13	32	countries	country	NOUN
ajfa-2165	13	33	.	.	PUNCT
ajfa-2165	14	1	the	the	DET
ajfa-2165	14	2	main	main	ADJ
ajfa-2165	14	3	reason	reason	NOUN
ajfa-2165	14	4	behind	behind	ADP
ajfa-2165	14	5	the	the	DET
ajfa-2165	14	6	derivatives	derivative	NOUN
ajfa-2165	14	7	trading	trading	NOUN
ajfa-2165	14	8	is	be	AUX
ajfa-2165	14	9	that	that	SCONJ
ajfa-2165	14	10	derivatives	derivative	NOUN
ajfa-2165	14	11	reduce	reduce	VERB
ajfa-2165	14	12	the	the	DET
ajfa-2165	14	13	risk	risk	NOUN
ajfa-2165	14	14	by	by	ADP
ajfa-2165	14	15	providing	provide	VERB
ajfa-2165	14	16	an	an	DET
ajfa-2165	14	17	additional	additional	ADJ
ajfa-2165	14	18	way	way	NOUN
ajfa-2165	14	19	to	to	PART
ajfa-2165	14	20	invest	invest	VERB
ajfa-2165	14	21	with	with	ADP
ajfa-2165	14	22	lesser	less	ADJ
ajfa-2165	14	23	trading	trading	NOUN
ajfa-2165	14	24	cost	cost	NOUN
ajfa-2165	14	25	and	and	CCONJ
ajfa-2165	14	26	it	it	PRON
ajfa-2165	14	27	facilitates	facilitate	VERB
ajfa-2165	14	28	the	the	DET
ajfa-2165	14	29	investors	investor	NOUN
ajfa-2165	14	30	to	to	PART
ajfa-2165	14	31	extend	extend	VERB
ajfa-2165	14	32	their	their	PRON
ajfa-2165	14	33	settlement	settlement	NOUN
ajfa-2165	14	34	through	through	ADP
ajfa-2165	14	35	the	the	DET
ajfa-2165	14	36	future	future	ADJ
ajfa-2165	14	37	contracts	contract	NOUN
ajfa-2165	14	38	.	.	PUNCT
ajfa-2165	15	1	it	it	PRON
ajfa-2165	15	2	provides	provide	VERB
ajfa-2165	15	3	extra	extra	ADJ
ajfa-2165	15	4	liquidity	liquidity	NOUN
ajfa-2165	15	5	in	in	ADP
ajfa-2165	15	6	the	the	DET
ajfa-2165	15	7	stock	stock	NOUN
ajfa-2165	15	8	market	market	NOUN
ajfa-2165	15	9	.	.	PUNCT
ajfa-2165	16	1	they	they	PRON
ajfa-2165	16	2	represent	represent	VERB
ajfa-2165	16	3	contracts	contract	NOUN
ajfa-2165	16	4	whose	whose	DET
ajfa-2165	16	5	payoff	payoff	NOUN
ajfa-2165	16	6	at	at	ADP
ajfa-2165	16	7	expiration	expiration	NOUN
ajfa-2165	16	8	is	be	AUX
ajfa-2165	16	9	determined	determine	VERB
ajfa-2165	16	10	by	by	ADP
ajfa-2165	16	11	the	the	DET
ajfa-2165	16	12	price	price	NOUN
ajfa-2165	16	13	of	of	ADP
ajfa-2165	16	14	the	the	DET
ajfa-2165	16	15	underlying	underlie	VERB
ajfa-2165	16	16	asset	asset	NOUN
ajfa-2165	16	17	—	—	PUNCT
ajfa-2165	16	18	a	a	DET
ajfa-2165	16	19	currency	currency	NOUN
ajfa-2165	16	20	,	,	PUNCT
ajfa-2165	16	21	an	an	DET
ajfa-2165	16	22	interest	interest	NOUN
ajfa-2165	16	23	rate	rate	NOUN
ajfa-2165	16	24	,	,	PUNCT
ajfa-2165	16	25	a	a	DET
ajfa-2165	16	26	commodity	commodity	NOUN
ajfa-2165	16	27	,	,	PUNCT
ajfa-2165	16	28	or	or	CCONJ
ajfa-2165	16	29	a	a	DET
ajfa-2165	16	30	stock	stock	NOUN
ajfa-2165	16	31	.	.	PUNCT
ajfa-2165	17	1	derivatives	derivative	NOUN
ajfa-2165	17	2	are	be	AUX
ajfa-2165	17	3	traded	trade	VERB
ajfa-2165	17	4	in	in	ADP
ajfa-2165	17	5	organized	organize	VERB
ajfa-2165	17	6	stock	stock	NOUN
ajfa-2165	17	7	exchanges	exchange	NOUN
ajfa-2165	17	8	or	or	CCONJ
ajfa-2165	17	9	over	over	ADP
ajfa-2165	17	10	the	the	DET
ajfa-2165	17	11	counter	counter	NOUN
ajfa-2165	17	12	by	by	ADP
ajfa-2165	17	13	derivatives	derivative	NOUN
ajfa-2165	17	14	dealers	dealer	NOUN
ajfa-2165	17	15	.	.	PUNCT
ajfa-2165	18	1	the	the	DET
ajfa-2165	18	2	impact	impact	NOUN
ajfa-2165	18	3	of	of	ADP
ajfa-2165	18	4	derivatives	derivative	NOUN
ajfa-2165	18	5	trading	trade	VERB
ajfa-2165	18	6	on	on	ADP
ajfa-2165	18	7	stock	stock	NOUN
ajfa-2165	18	8	market	market	NOUN
ajfa-2165	18	9	volatility	volatility	NOUN
ajfa-2165	18	10	has	have	AUX
ajfa-2165	18	11	received	receive	VERB
ajfa-2165	18	12	considerable	considerable	ADJ
ajfa-2165	18	13	attention	attention	NOUN
ajfa-2165	18	14	in	in	ADP
ajfa-2165	18	15	india	india	PROPN
ajfa-2165	18	16	,	,	PUNCT
ajfa-2165	18	17	particularly	particularly	ADV
ajfa-2165	18	18	after	after	ADP
ajfa-2165	18	19	the	the	DET
ajfa-2165	18	20	stock	stock	NOUN
ajfa-2165	18	21	market	market	NOUN
ajfa-2165	18	22	crash	crash	NOUN
ajfa-2165	18	23	of	of	ADP
ajfa-2165	18	24	2001	2001	NUM
ajfa-2165	18	25	.	.	PUNCT
ajfa-2165	19	1	derivative	derivative	ADJ
ajfa-2165	19	2	products	product	NOUN
ajfa-2165	19	3	like	like	ADP
ajfa-2165	19	4	futures	future	NOUN
ajfa-2165	19	5	and	and	CCONJ
ajfa-2165	19	6	options	option	NOUN
ajfa-2165	19	7	have	have	AUX
ajfa-2165	19	8	become	become	VERB
ajfa-2165	19	9	important	important	ADJ
ajfa-2165	19	10	instruments	instrument	NOUN
ajfa-2165	19	11	of	of	ADP
ajfa-2165	19	12	price	price	NOUN
ajfa-2165	19	13	discovery	discovery	NOUN
ajfa-2165	19	14	,	,	PUNCT
ajfa-2165	19	15	portfolio	portfolio	NOUN
ajfa-2165	19	16	diversification	diversification	NOUN
ajfa-2165	19	17	and	and	CCONJ
ajfa-2165	19	18	risk	risk	NOUN
ajfa-2165	19	19	hedging	hedging	NOUN
ajfa-2165	19	20	.	.	PUNCT
ajfa-2165	20	1	in	in	ADP
ajfa-2165	20	2	the	the	DET
ajfa-2165	20	3	last	last	ADJ
ajfa-2165	20	4	decade	decade	NOUN
ajfa-2165	20	5	,	,	PUNCT
ajfa-2165	20	6	many	many	ADJ
ajfa-2165	20	7	rising	rise	VERB
ajfa-2165	20	8	and	and	CCONJ
ajfa-2165	20	9	transition	transition	NOUN
ajfa-2165	20	10	economies	economy	NOUN
ajfa-2165	20	11	have	have	AUX
ajfa-2165	20	12	started	start	VERB
ajfa-2165	20	13	introducing	introduce	VERB
ajfa-2165	20	14	derivative	derivative	ADJ
ajfa-2165	20	15	contracts	contract	NOUN
ajfa-2165	20	16	.	.	PUNCT
ajfa-2165	21	1	derivatives	derivative	NOUN
ajfa-2165	21	2	markets	market	NOUN
ajfa-2165	21	3	have	have	AUX
ajfa-2165	21	4	been	be	AUX
ajfa-2165	21	5	in	in	ADP
ajfa-2165	21	6	existence	existence	NOUN
ajfa-2165	21	7	by	by	ADP
ajfa-2165	21	8	many	many	ADJ
ajfa-2165	21	9	accounts	account	NOUN
ajfa-2165	21	10	even	even	ADV
ajfa-2165	21	11	longer	long	ADV
ajfa-2165	21	12	than	than	ADP
ajfa-2165	21	13	that	that	PRON
ajfa-2165	21	14	for	for	ADP
ajfa-2165	21	15	securities	security	NOUN
ajfa-2165	21	16	.	.	PUNCT
ajfa-2165	22	1	however	however	ADV
ajfa-2165	22	2	,	,	PUNCT
ajfa-2165	22	3	it	it	PRON
ajfa-2165	22	4	has	have	AUX
ajfa-2165	22	5	been	be	AUX
ajfa-2165	22	6	their	their	PRON
ajfa-2165	22	7	growth	growth	NOUN
ajfa-2165	22	8	in	in	ADP
ajfa-2165	22	9	the	the	DET
ajfa-2165	22	10	past	past	ADJ
ajfa-2165	22	11	30	30	NUM
ajfa-2165	22	12	years	year	NOUN
ajfa-2165	22	13	that	that	PRON
ajfa-2165	22	14	has	have	AUX
ajfa-2165	22	15	made	make	VERB
ajfa-2165	22	16	them	they	PRON
ajfa-2165	22	17	a	a	DET
ajfa-2165	22	18	significant	significant	ADJ
ajfa-2165	22	19	segment	segment	NOUN
ajfa-2165	22	20	of	of	ADP
ajfa-2165	22	21	the	the	DET
ajfa-2165	22	22	financial	financial	ADJ
ajfa-2165	22	23	markets	market	NOUN
ajfa-2165	22	24	.	.	PUNCT
ajfa-2165	23	1	from	from	ADP
ajfa-2165	23	2	a	a	DET
ajfa-2165	23	3	proscribed	proscribe	VERB
ajfa-2165	23	4	economy	economy	NOUN
ajfa-2165	23	5	,	,	PUNCT
ajfa-2165	23	6	india	india	PROPN
ajfa-2165	23	7	has	have	AUX
ajfa-2165	23	8	moved	move	VERB
ajfa-2165	23	9	towards	towards	ADP
ajfa-2165	23	10	a	a	DET
ajfa-2165	23	11	world	world	NOUN
ajfa-2165	23	12	where	where	SCONJ
ajfa-2165	23	13	there	there	PRON
ajfa-2165	23	14	are	be	VERB
ajfa-2165	23	15	daily	daily	ADJ
ajfa-2165	23	16	prices	price	NOUN
ajfa-2165	23	17	fluctuations	fluctuation	NOUN
ajfa-2165	23	18	.	.	PUNCT
ajfa-2165	24	1	need	need	NOUN
ajfa-2165	24	2	of	of	ADP
ajfa-2165	24	3	the	the	DET
ajfa-2165	24	4	derivatives	derivative	NOUN
ajfa-2165	24	5	was	be	AUX
ajfa-2165	24	6	felt	feel	VERB
ajfa-2165	24	7	in	in	ADP
ajfa-2165	24	8	india	india	PROPN
ajfa-2165	24	9	post	post	PROPN
ajfa-2165	24	10	liberalization	liberalization	NOUN
ajfa-2165	24	11	because	because	SCONJ
ajfa-2165	24	12	derivative	derivative	ADJ
ajfa-2165	24	13	trading	trading	NOUN
ajfa-2165	24	14	provides	provide	VERB
ajfa-2165	24	15	various	various	ADJ
ajfa-2165	24	16	benefits	benefit	NOUN
ajfa-2165	24	17	such	such	ADJ
ajfa-2165	24	18	as	as	ADP
ajfa-2165	24	19	risk	risk	NOUN
ajfa-2165	24	20	management	management	NOUN
ajfa-2165	24	21	,	,	PUNCT
ajfa-2165	24	22	price	price	NOUN
ajfa-2165	24	23	discovery	discovery	NOUN
ajfa-2165	24	24	,	,	PUNCT
ajfa-2165	24	25	operational	operational	ADJ
ajfa-2165	24	26	advantage	advantage	NOUN
ajfa-2165	24	27	,	,	PUNCT
ajfa-2165	24	28	market	market	NOUN
ajfa-2165	24	29	efficiency	efficiency	NOUN
ajfa-2165	24	30	and	and	CCONJ
ajfa-2165	24	31	opportunity	opportunity	NOUN
ajfa-2165	24	32	to	to	ADP
ajfa-2165	24	33	speculate.the	speculate.the	DET
ajfa-2165	24	34	recent	recent	ADJ
ajfa-2165	24	35	gain	gain	NOUN
ajfa-2165	24	36	in	in	ADP
ajfa-2165	24	37	momentum	momentum	NOUN
ajfa-2165	24	38	in	in	ADP
ajfa-2165	24	39	recent	recent	ADJ
ajfa-2165	24	40	years	year	NOUN
ajfa-2165	24	41	is	be	AUX
ajfa-2165	24	42	mainly	mainly	ADV
ajfa-2165	24	43	because	because	SCONJ
ajfa-2165	24	44	of	of	ADP
ajfa-2165	24	45	liberalization	liberalization	NOUN
ajfa-2165	24	46	procedure	procedure	NOUN
ajfa-2165	24	47	and	and	CCONJ
ajfa-2165	24	48	efforts	effort	NOUN
ajfa-2165	24	49	of	of	ADP
ajfa-2165	24	50	rbi	rbi	NOUN
ajfa-2165	24	51	in	in	ADP
ajfa-2165	24	52	creating	create	VERB
ajfa-2165	24	53	currency	currency	NOUN
ajfa-2165	24	54	forward	forward	ADJ
ajfa-2165	24	55	market	market	NOUN
ajfa-2165	24	56	.	.	PUNCT
ajfa-2165	25	1	derivatives	derivative	NOUN
ajfa-2165	25	2	are	be	AUX
ajfa-2165	25	3	an	an	DET
ajfa-2165	25	4	integral	integral	ADJ
ajfa-2165	25	5	part	part	NOUN
ajfa-2165	25	6	of	of	ADP
ajfa-2165	25	7	liberalization	liberalization	NOUN
ajfa-2165	25	8	process	process	NOUN
ajfa-2165	25	9	to	to	PART
ajfa-2165	25	10	manage	manage	VERB
ajfa-2165	25	11	risk	risk	NOUN
ajfa-2165	25	12	.	.	PUNCT
ajfa-2165	26	1	nse	nse	NOUN
ajfa-2165	26	2	gauging	gauge	VERB
ajfa-2165	26	3	the	the	DET
ajfa-2165	26	4	market	market	NOUN
ajfa-2165	26	5	requirements	requirement	NOUN
ajfa-2165	26	6	initiated	initiate	VERB
ajfa-2165	26	7	the	the	DET
ajfa-2165	26	8	process	process	NOUN
ajfa-2165	26	9	of	of	ADP
ajfa-2165	26	10	setting	set	VERB
ajfa-2165	26	11	up	up	ADP
ajfa-2165	26	12	derivative	derivative	ADJ
ajfa-2165	26	13	markets	market	NOUN
ajfa-2165	26	14	in	in	ADP
ajfa-2165	26	15	india	india	PROPN
ajfa-2165	26	16	.	.	PUNCT
ajfa-2165	27	1	in	in	ADP
ajfa-2165	27	2	july	july	PROPN
ajfa-2165	27	3	1999	1999	NUM
ajfa-2165	27	4	,	,	PUNCT
ajfa-2165	27	5	derivatives	derivative	NOUN
ajfa-2165	27	6	trading	trading	NOUN
ajfa-2165	27	7	commenced	commence	VERB
ajfa-2165	27	8	in	in	ADP
ajfa-2165	27	9	india	india	PROPN
ajfa-2165	27	10	.	.	PUNCT
ajfa-2165	28	1	the	the	DET
ajfa-2165	28	2	introduction	introduction	NOUN
ajfa-2165	28	3	of	of	ADP
ajfa-2165	28	4	derivatives	derivative	NOUN
ajfa-2165	28	5	segment	segment	NOUN
ajfa-2165	28	6	from	from	ADP
ajfa-2165	28	7	the	the	DET
ajfa-2165	28	8	early	early	ADJ
ajfa-2165	28	9	2000s	2000s	NUM
ajfa-2165	28	10	onwards	onwards	ADV
ajfa-2165	28	11	has	have	AUX
ajfa-2165	28	12	led	lead	VERB
ajfa-2165	28	13	both	both	PRON
ajfa-2165	28	14	to	to	ADP
ajfa-2165	28	15	interactions	interaction	NOUN
ajfa-2165	28	16	between	between	ADP
ajfa-2165	28	17	the	the	DET
ajfa-2165	28	18	spot	spot	NOUN
ajfa-2165	28	19	and	and	CCONJ
ajfa-2165	28	20	futures	future	NOUN
ajfa-2165	28	21	markets	market	NOUN
ajfa-2165	28	22	,	,	PUNCT
ajfa-2165	28	23	and	and	CCONJ
ajfa-2165	28	24	to	to	ADP
ajfa-2165	28	25	an	an	DET
ajfa-2165	28	26	interest	interest	NOUN
ajfa-2165	28	27	by	by	ADP
ajfa-2165	28	28	regulators	regulator	NOUN
ajfa-2165	28	29	in	in	ADP
ajfa-2165	28	30	controlling	control	VERB
ajfa-2165	28	31	any	any	DET
ajfa-2165	28	32	possible	possible	ADJ
ajfa-2165	28	33	harmful	harmful	ADJ
ajfa-2165	28	34	influences	influence	NOUN
ajfa-2165	28	35	of	of	ADP
ajfa-2165	28	36	this	this	DET
ajfa-2165	28	37	new	new	ADJ
ajfa-2165	28	38	trading	trading	NOUN
ajfa-2165	28	39	segment	segment	NOUN
ajfa-2165	28	40	.	.	PUNCT
ajfa-2165	29	1	it	it	PRON
ajfa-2165	29	2	is	be	AUX
ajfa-2165	29	3	expected	expect	VERB
ajfa-2165	29	4	that	that	SCONJ
ajfa-2165	29	5	the	the	DET
ajfa-2165	29	6	futures	future	NOUN
ajfa-2165	29	7	prices	price	NOUN
ajfa-2165	29	8	can	can	AUX
ajfa-2165	29	9	reflect	reflect	VERB
ajfa-2165	29	10	additional	additional	ADJ
ajfa-2165	29	11	information	information	NOUN
ajfa-2165	29	12	,	,	PUNCT
ajfa-2165	29	13	over	over	ADV
ajfa-2165	29	14	and	and	CCONJ
ajfa-2165	29	15	above	above	ADV
ajfa-2165	29	16	that	that	PRON
ajfa-2165	29	17	already	already	ADV
ajfa-2165	29	18	reflected	reflect	VERB
ajfa-2165	29	19	in	in	ADP
ajfa-2165	29	20	the	the	DET
ajfa-2165	29	21	spot	spot	NOUN
ajfa-2165	29	22	price	price	NOUN
ajfa-2165	29	23	,	,	PUNCT
ajfa-2165	29	24	given	give	VERB
ajfa-2165	29	25	the	the	DET
ajfa-2165	29	26	leverage	leverage	NOUN
ajfa-2165	29	27	benefits	benefit	NOUN
ajfa-2165	29	28	and	and	CCONJ
ajfa-2165	29	29	so	so	ADV
ajfa-2165	29	30	can	can	AUX
ajfa-2165	29	31	serve	serve	VERB
ajfa-2165	29	32	as	as	ADP
ajfa-2165	29	33	a	a	DET
ajfa-2165	29	34	leading	lead	VERB
ajfa-2165	29	35	indicator	indicator	NOUN
ajfa-2165	29	36	for	for	ADP
ajfa-2165	29	37	the	the	DET
ajfa-2165	29	38	spot	spot	NOUN
ajfa-2165	29	39	price	price	NOUN
ajfa-2165	29	40	.	.	PUNCT
ajfa-2165	30	1	in	in	ADP
ajfa-2165	30	2	response	response	NOUN
ajfa-2165	30	3	to	to	ADP
ajfa-2165	30	4	this	this	DET
ajfa-2165	30	5	need	need	NOUN
ajfa-2165	30	6	,	,	PUNCT
ajfa-2165	30	7	derivative	derivative	ADJ
ajfa-2165	30	8	markets	market	NOUN
ajfa-2165	30	9	for	for	ADP
ajfa-2165	30	10	stock	stock	NOUN
ajfa-2165	30	11	risks	risk	NOUN
ajfa-2165	30	12	trading	trading	NOUN
ajfa-2165	30	13	arose	arise	VERB
ajfa-2165	30	14	,	,	PUNCT
ajfa-2165	30	15	and	and	CCONJ
ajfa-2165	30	16	their	their	PRON
ajfa-2165	30	17	use	use	NOUN
ajfa-2165	30	18	has	have	AUX
ajfa-2165	30	19	become	become	VERB
ajfa-2165	30	20	extensive	extensive	ADJ
ajfa-2165	30	21	.	.	PUNCT
ajfa-2165	31	1	there	there	PRON
ajfa-2165	31	2	are	be	VERB
ajfa-2165	31	3	many	many	ADJ
ajfa-2165	31	4	instruments	instrument	NOUN
ajfa-2165	31	5	traded	trade	VERB
ajfa-2165	31	6	in	in	ADP
ajfa-2165	31	7	these	these	DET
ajfa-2165	31	8	markets	market	NOUN
ajfa-2165	31	9	which	which	PRON
ajfa-2165	31	10	include	include	VERB
ajfa-2165	31	11	financial	financial	ADJ
ajfa-2165	31	12	instruments	instrument	NOUN
ajfa-2165	31	13	such	such	ADJ
ajfa-2165	31	14	as	as	ADP
ajfa-2165	31	15	futures	future	NOUN
ajfa-2165	31	16	and	and	CCONJ
ajfa-2165	31	17	forward	forward	ADJ
ajfa-2165	31	18	contracts	contract	NOUN
ajfa-2165	31	19	,	,	PUNCT
ajfa-2165	31	20	options	option	NOUN
ajfa-2165	31	21	,	,	PUNCT
ajfa-2165	31	22	swaps	swap	NOUN
ajfa-2165	31	23	,	,	PUNCT
ajfa-2165	31	24	and	and	CCONJ
ajfa-2165	31	25	physical	physical	ADJ
ajfa-2165	31	26	instruments	instrument	NOUN
ajfa-2165	31	27	like	like	ADP
ajfa-2165	31	28	inventories	inventory	NOUN
ajfa-2165	31	29	.	.	PUNCT
ajfa-2165	32	1	future	future	ADJ
ajfa-2165	32	2	contracts	contract	NOUN
ajfa-2165	32	3	are	be	AUX
ajfa-2165	32	4	among	among	ADP
ajfa-2165	32	5	the	the	DET
ajfa-2165	32	6	most	most	ADV
ajfa-2165	32	7	important	important	ADJ
ajfa-2165	32	8	of	of	ADP
ajfa-2165	32	9	these	these	DET
ajfa-2165	32	10	instruments	instrument	NOUN
ajfa-2165	32	11	,	,	PUNCT
ajfa-2165	32	12	and	and	CCONJ
ajfa-2165	32	13	provide	provide	VERB
ajfa-2165	32	14	significant	significant	ADJ
ajfa-2165	32	15	information	information	NOUN
ajfa-2165	32	16	about	about	ADP
ajfa-2165	32	17	cash	cash	NOUN
ajfa-2165	32	18	and	and	CCONJ
ajfa-2165	32	19	storage	storage	NOUN
ajfa-2165	32	20	markets	market	NOUN
ajfa-2165	32	21	.	.	PUNCT
ajfa-2165	33	1	price	price	NOUN
ajfa-2165	33	2	discovery	discovery	NOUN
ajfa-2165	33	3	,	,	PUNCT
ajfa-2165	33	4	hedging	hedging	NOUN
ajfa-2165	33	5	,	,	PUNCT
ajfa-2165	33	6	financing	financing	NOUN
ajfa-2165	33	7	,	,	PUNCT
ajfa-2165	33	8	liquidity	liquidity	NOUN
ajfa-2165	33	9	,	,	PUNCT
ajfa-2165	33	10	asian	asian	ADJ
ajfa-2165	33	11	journal	journal	NOUN
ajfa-2165	33	12	of	of	ADP
ajfa-2165	33	13	finance	finance	PROPN
ajfa-2165	33	14	&	&	CCONJ
ajfa-2165	33	15	accounting	accounting	PROPN
ajfa-2165	33	16	issn	issn	PROPN
ajfa-2165	33	17	1946	1946	NUM
ajfa-2165	33	18	-	-	PUNCT
ajfa-2165	33	19	052x	052x	NOUN
ajfa-2165	33	20	2013	2013	NUM
ajfa-2165	33	21	,	,	PUNCT
ajfa-2165	33	22	vol	vol	NOUN
ajfa-2165	33	23	.	.	PROPN
ajfa-2165	33	24	5	5	NUM
ajfa-2165	33	25	,	,	PUNCT
ajfa-2165	33	26	no	no	INTJ
ajfa-2165	33	27	.	.	NOUN
ajfa-2165	33	28	1	1	NUM
ajfa-2165	33	29	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	33	30	291	291	NUM
ajfa-2165	33	31	price	price	NOUN
ajfa-2165	33	32	stabilization	stabilization	NOUN
ajfa-2165	33	33	,	,	PUNCT
ajfa-2165	33	34	encouraging	encourage	VERB
ajfa-2165	33	35	competition	competition	NOUN
ajfa-2165	33	36	,	,	PUNCT
ajfa-2165	33	37	increasing	increase	VERB
ajfa-2165	33	38	efficiency	efficiency	NOUN
ajfa-2165	33	39	,	,	PUNCT
ajfa-2165	33	40	inherent	inherent	ADJ
ajfa-2165	33	41	leverage	leverage	NOUN
ajfa-2165	33	42	,	,	PUNCT
ajfa-2165	33	43	low	low	ADJ
ajfa-2165	33	44	transaction	transaction	NOUN
ajfa-2165	33	45	costs	cost	NOUN
ajfa-2165	33	46	,	,	PUNCT
ajfa-2165	33	47	and	and	CCONJ
ajfa-2165	33	48	lack	lack	NOUN
ajfa-2165	33	49	of	of	ADP
ajfa-2165	33	50	short	short	ADJ
ajfa-2165	33	51	sale	sale	NOUN
ajfa-2165	33	52	restrictions	restriction	NOUN
ajfa-2165	33	53	as	as	ADV
ajfa-2165	33	54	well	well	ADV
ajfa-2165	33	55	as	as	ADP
ajfa-2165	33	56	fulfilling	fulfil	VERB
ajfa-2165	33	57	desires	desire	NOUN
ajfa-2165	33	58	of	of	ADP
ajfa-2165	33	59	speculators	speculator	NOUN
ajfa-2165	33	60	are	be	AUX
ajfa-2165	33	61	some	some	PRON
ajfa-2165	33	62	of	of	ADP
ajfa-2165	33	63	the	the	DET
ajfa-2165	33	64	prime	prime	ADJ
ajfa-2165	33	65	economic	economic	ADJ
ajfa-2165	33	66	functions	function	NOUN
ajfa-2165	33	67	of	of	ADP
ajfa-2165	33	68	the	the	DET
ajfa-2165	33	69	futures	future	NOUN
ajfa-2165	33	70	market	market	NOUN
ajfa-2165	33	71	.	.	PUNCT
ajfa-2165	34	1	price	price	NOUN
ajfa-2165	34	2	discovery	discovery	NOUN
ajfa-2165	34	3	and	and	CCONJ
ajfa-2165	34	4	risk	risk	NOUN
ajfa-2165	34	5	transfer	transfer	NOUN
ajfa-2165	34	6	are	be	AUX
ajfa-2165	34	7	considered	consider	VERB
ajfa-2165	34	8	to	to	PART
ajfa-2165	34	9	be	be	AUX
ajfa-2165	34	10	two	two	NUM
ajfa-2165	34	11	major	major	ADJ
ajfa-2165	34	12	contributions	contribution	NOUN
ajfa-2165	34	13	of	of	ADP
ajfa-2165	34	14	futures	future	NOUN
ajfa-2165	34	15	market	market	NOUN
ajfa-2165	34	16	towards	towards	ADP
ajfa-2165	34	17	the	the	DET
ajfa-2165	34	18	organization	organization	NOUN
ajfa-2165	34	19	of	of	ADP
ajfa-2165	34	20	economic	economic	ADJ
ajfa-2165	34	21	activity	activity	NOUN
ajfa-2165	34	22	(	(	PUNCT
ajfa-2165	34	23	garbade	garbade	NOUN
ajfa-2165	34	24	and	and	CCONJ
ajfa-2165	34	25	silber	silber	NOUN
ajfa-2165	34	26	,	,	PUNCT
ajfa-2165	34	27	1983	1983	NUM
ajfa-2165	34	28	)	)	PUNCT
ajfa-2165	34	29	.	.	PUNCT
ajfa-2165	35	1	price	price	NOUN
ajfa-2165	35	2	discovery	discovery	NOUN
ajfa-2165	35	3	refers	refer	VERB
ajfa-2165	35	4	to	to	ADP
ajfa-2165	35	5	the	the	DET
ajfa-2165	35	6	use	use	NOUN
ajfa-2165	35	7	of	of	ADP
ajfa-2165	35	8	future	future	ADJ
ajfa-2165	35	9	prices	price	NOUN
ajfa-2165	35	10	for	for	ADP
ajfa-2165	35	11	pricing	price	VERB
ajfa-2165	35	12	cash	cash	NOUN
ajfa-2165	35	13	market	market	NOUN
ajfa-2165	35	14	transactions	transaction	NOUN
ajfa-2165	35	15	.	.	PUNCT
ajfa-2165	36	1	this	this	PRON
ajfa-2165	36	2	implies	imply	VERB
ajfa-2165	36	3	that	that	SCONJ
ajfa-2165	36	4	futures	future	NOUN
ajfa-2165	36	5	price	price	NOUN
ajfa-2165	36	6	serves	serve	VERB
ajfa-2165	36	7	as	as	ADP
ajfa-2165	36	8	market	market	NOUN
ajfa-2165	36	9	’s	’s	PART
ajfa-2165	36	10	expectations	expectation	NOUN
ajfa-2165	36	11	of	of	ADP
ajfa-2165	36	12	subsequent	subsequent	ADJ
ajfa-2165	36	13	spot	spot	NOUN
ajfa-2165	36	14	price	price	NOUN
ajfa-2165	36	15	.	.	PUNCT
ajfa-2165	37	1	understanding	understand	VERB
ajfa-2165	37	2	the	the	DET
ajfa-2165	37	3	influence	influence	NOUN
ajfa-2165	37	4	of	of	ADP
ajfa-2165	37	5	one	one	NUM
ajfa-2165	37	6	market	market	NOUN
ajfa-2165	37	7	on	on	ADP
ajfa-2165	37	8	the	the	DET
ajfa-2165	37	9	other	other	ADJ
ajfa-2165	37	10	and	and	CCONJ
ajfa-2165	37	11	the	the	DET
ajfa-2165	37	12	role	role	NOUN
ajfa-2165	37	13	of	of	ADP
ajfa-2165	37	14	each	each	DET
ajfa-2165	37	15	market	market	NOUN
ajfa-2165	37	16	segment	segment	NOUN
ajfa-2165	37	17	in	in	ADP
ajfa-2165	37	18	price	price	NOUN
ajfa-2165	37	19	discovery	discovery	NOUN
ajfa-2165	37	20	is	be	AUX
ajfa-2165	37	21	the	the	DET
ajfa-2165	37	22	central	central	ADJ
ajfa-2165	37	23	question	question	NOUN
ajfa-2165	37	24	in	in	ADP
ajfa-2165	37	25	market	market	NOUN
ajfa-2165	37	26	microstructure	microstructure	NOUN
ajfa-2165	37	27	design	design	NOUN
ajfa-2165	37	28	and	and	CCONJ
ajfa-2165	37	29	is	be	AUX
ajfa-2165	37	30	very	very	ADV
ajfa-2165	37	31	important	important	ADJ
ajfa-2165	37	32	to	to	PART
ajfa-2165	37	33	academia	academia	VERB
ajfa-2165	37	34	and	and	CCONJ
ajfa-2165	37	35	regulators	regulator	NOUN
ajfa-2165	37	36	.	.	PUNCT
ajfa-2165	38	1	price	price	NOUN
ajfa-2165	38	2	of	of	ADP
ajfa-2165	38	3	the	the	DET
ajfa-2165	38	4	derivative	derivative	NOUN
ajfa-2165	38	5	is	be	AUX
ajfa-2165	38	6	derived	derive	VERB
ajfa-2165	38	7	from	from	ADP
ajfa-2165	38	8	the	the	DET
ajfa-2165	38	9	underlying	underlie	VERB
ajfa-2165	38	10	asset	asset	NOUN
ajfa-2165	38	11	,	,	PUNCT
ajfa-2165	38	12	any	any	DET
ajfa-2165	38	13	change	change	NOUN
ajfa-2165	38	14	in	in	ADP
ajfa-2165	38	15	price	price	NOUN
ajfa-2165	38	16	of	of	ADP
ajfa-2165	38	17	the	the	DET
ajfa-2165	38	18	underlying	underlie	VERB
ajfa-2165	38	19	asset	asset	NOUN
ajfa-2165	38	20	leads	lead	VERB
ajfa-2165	38	21	to	to	PART
ajfa-2165	38	22	change	change	VERB
ajfa-2165	38	23	in	in	ADP
ajfa-2165	38	24	the	the	DET
ajfa-2165	38	25	value	value	NOUN
ajfa-2165	38	26	of	of	ADP
ajfa-2165	38	27	the	the	DET
ajfa-2165	38	28	asset	asset	NOUN
ajfa-2165	38	29	.	.	PUNCT
ajfa-2165	39	1	derivatives	derivative	NOUN
ajfa-2165	39	2	facilitate	facilitate	VERB
ajfa-2165	39	3	investment	investment	NOUN
ajfa-2165	39	4	and	and	CCONJ
ajfa-2165	39	5	arbitrage	arbitrage	NOUN
ajfa-2165	39	6	strategies	strategy	NOUN
ajfa-2165	39	7	that	that	PRON
ajfa-2165	39	8	straddle	straddle	ADJ
ajfa-2165	39	9	market	market	NOUN
ajfa-2165	39	10	segments	segment	NOUN
ajfa-2165	39	11	.	.	PUNCT
ajfa-2165	40	1	it	it	PRON
ajfa-2165	40	2	helps	help	VERB
ajfa-2165	40	3	to	to	PART
ajfa-2165	40	4	increase	increase	VERB
ajfa-2165	40	5	asset	asset	NOUN
ajfa-2165	40	6	substitutability	substitutability	NOUN
ajfa-2165	40	7	,	,	PUNCT
ajfa-2165	40	8	both	both	CCONJ
ajfa-2165	40	9	domestically	domestically	ADV
ajfa-2165	40	10	and	and	CCONJ
ajfa-2165	40	11	internationally	internationally	ADV
ajfa-2165	40	12	.	.	PUNCT
ajfa-2165	41	1	derivatives	derivative	NOUN
ajfa-2165	41	2	help	help	VERB
ajfa-2165	41	3	to	to	PART
ajfa-2165	41	4	improve	improve	VERB
ajfa-2165	41	5	liquidity	liquidity	NOUN
ajfa-2165	41	6	.	.	PUNCT
ajfa-2165	42	1	it	it	PRON
ajfa-2165	42	2	helps	help	VERB
ajfa-2165	42	3	to	to	PART
ajfa-2165	42	4	facilitate	facilitate	VERB
ajfa-2165	42	5	the	the	DET
ajfa-2165	42	6	creation	creation	NOUN
ajfa-2165	42	7	of	of	ADP
ajfa-2165	42	8	pay	pay	VERB
ajfa-2165	42	9	off	off	ADP
ajfa-2165	42	10	characteristics	characteristic	NOUN
ajfa-2165	42	11	at	at	ADP
ajfa-2165	42	12	a	a	DET
ajfa-2165	42	13	lower	low	ADJ
ajfa-2165	42	14	cost	cost	NOUN
ajfa-2165	42	15	that	that	PRON
ajfa-2165	42	16	would	would	AUX
ajfa-2165	42	17	result	result	VERB
ajfa-2165	42	18	from	from	ADP
ajfa-2165	42	19	the	the	DET
ajfa-2165	42	20	acquisition	acquisition	NOUN
ajfa-2165	42	21	of	of	ADP
ajfa-2165	42	22	underlying	underlie	VERB
ajfa-2165	42	23	assets	asset	NOUN
ajfa-2165	42	24	.	.	PUNCT
ajfa-2165	43	1	derivative	derivative	ADJ
ajfa-2165	43	2	markets	market	NOUN
ajfa-2165	43	3	help	help	VERB
ajfa-2165	43	4	increase	increase	VERB
ajfa-2165	43	5	savings	saving	NOUN
ajfa-2165	43	6	and	and	CCONJ
ajfa-2165	43	7	investment	investment	NOUN
ajfa-2165	43	8	in	in	ADP
ajfa-2165	43	9	the	the	DET
ajfa-2165	43	10	long	long	ADJ
ajfa-2165	43	11	run	run	NOUN
ajfa-2165	43	12	.	.	PUNCT
ajfa-2165	44	1	the	the	DET
ajfa-2165	44	2	derivative	derivative	ADJ
ajfa-2165	44	3	market	market	NOUN
ajfa-2165	44	4	performs	perform	VERB
ajfa-2165	44	5	a	a	DET
ajfa-2165	44	6	number	number	NOUN
ajfa-2165	44	7	of	of	ADP
ajfa-2165	44	8	economic	economic	ADJ
ajfa-2165	44	9	functions	function	NOUN
ajfa-2165	44	10	.	.	PUNCT
ajfa-2165	45	1	some	some	PRON
ajfa-2165	45	2	of	of	ADP
ajfa-2165	45	3	them	they	PRON
ajfa-2165	45	4	are	be	AUX
ajfa-2165	45	5	given	give	VERB
ajfa-2165	45	6	below	below	ADV
ajfa-2165	45	7	:	:	PUNCT
ajfa-2165	45	8			VERB
ajfa-2165	45	9	the	the	DET
ajfa-2165	45	10	prices	price	NOUN
ajfa-2165	45	11	of	of	ADP
ajfa-2165	45	12	derivatives	derivative	NOUN
ajfa-2165	45	13	converge	converge	VERB
ajfa-2165	45	14	with	with	ADP
ajfa-2165	45	15	the	the	DET
ajfa-2165	45	16	prices	price	NOUN
ajfa-2165	45	17	of	of	ADP
ajfa-2165	45	18	the	the	DET
ajfa-2165	45	19	underlying	underlying	NOUN
ajfa-2165	45	20	at	at	ADP
ajfa-2165	45	21	the	the	DET
ajfa-2165	45	22	expiration	expiration	NOUN
ajfa-2165	45	23	of	of	ADP
ajfa-2165	45	24	derivative	derivative	ADJ
ajfa-2165	45	25	contract	contract	NOUN
ajfa-2165	45	26	.	.	PUNCT
ajfa-2165	46	1	thus	thus	ADV
ajfa-2165	46	2	derivatives	derivative	NOUN
ajfa-2165	46	3	help	help	VERB
ajfa-2165	46	4	in	in	ADP
ajfa-2165	46	5	discovery	discovery	NOUN
ajfa-2165	46	6	of	of	ADP
ajfa-2165	46	7	future	future	NOUN
ajfa-2165	46	8	as	as	ADV
ajfa-2165	46	9	well	well	ADV
ajfa-2165	46	10	as	as	ADP
ajfa-2165	46	11	current	current	ADJ
ajfa-2165	46	12	prices	price	NOUN
ajfa-2165	46	13	.	.	PUNCT
ajfa-2165	47	1			VERB
ajfa-2165	47	2	an	an	DET
ajfa-2165	47	3	important	important	ADJ
ajfa-2165	47	4	subsidiary	subsidiary	ADJ
ajfa-2165	47	5	benefit	benefit	NOUN
ajfa-2165	47	6	that	that	PRON
ajfa-2165	47	7	flows	flow	VERB
ajfa-2165	47	8	from	from	ADP
ajfa-2165	47	9	derivatives	derivative	NOUN
ajfa-2165	47	10	trading	trading	NOUN
ajfa-2165	47	11	is	be	AUX
ajfa-2165	47	12	that	that	SCONJ
ajfa-2165	47	13	it	it	PRON
ajfa-2165	47	14	acts	act	VERB
ajfa-2165	47	15	as	as	ADP
ajfa-2165	47	16	a	a	DET
ajfa-2165	47	17	catalyst	catalyst	NOUN
ajfa-2165	47	18	for	for	ADP
ajfa-2165	47	19	new	new	ADJ
ajfa-2165	47	20	entrepreneurial	entrepreneurial	ADJ
ajfa-2165	47	21	activity	activity	NOUN
ajfa-2165	47	22	.	.	PUNCT
ajfa-2165	48	1			VERB
ajfa-2165	48	2	derivatives	derivative	NOUN
ajfa-2165	48	3	markets	market	NOUN
ajfa-2165	48	4	help	help	VERB
ajfa-2165	48	5	boost	boost	VERB
ajfa-2165	48	6	savings	saving	NOUN
ajfa-2165	48	7	and	and	CCONJ
ajfa-2165	48	8	investment	investment	NOUN
ajfa-2165	48	9	in	in	ADP
ajfa-2165	48	10	the	the	DET
ajfa-2165	48	11	long	long	ADJ
ajfa-2165	48	12	run	run	NOUN
ajfa-2165	48	13	.	.	PUNCT
ajfa-2165	49	1	transfer	transfer	NOUN
ajfa-2165	49	2	of	of	ADP
ajfa-2165	49	3	risk	risk	NOUN
ajfa-2165	49	4	enables	enable	VERB
ajfa-2165	49	5	market	market	NOUN
ajfa-2165	49	6	participants	participant	NOUN
ajfa-2165	49	7	to	to	PART
ajfa-2165	49	8	expand	expand	VERB
ajfa-2165	49	9	their	their	PRON
ajfa-2165	49	10	volume	volume	NOUN
ajfa-2165	49	11	of	of	ADP
ajfa-2165	49	12	activity	activity	NOUN
ajfa-2165	49	13	.	.	PUNCT
ajfa-2165	50	1	the	the	DET
ajfa-2165	50	2	issue	issue	NOUN
ajfa-2165	50	3	pertaining	pertain	VERB
ajfa-2165	50	4	to	to	ADP
ajfa-2165	50	5	the	the	DET
ajfa-2165	50	6	impact	impact	NOUN
ajfa-2165	50	7	of	of	ADP
ajfa-2165	50	8	index	index	NOUN
ajfa-2165	50	9	futures	future	NOUN
ajfa-2165	50	10	on	on	ADP
ajfa-2165	50	11	the	the	DET
ajfa-2165	50	12	volatility	volatility	NOUN
ajfa-2165	50	13	of	of	ADP
ajfa-2165	50	14	the	the	DET
ajfa-2165	50	15	underlying	underlie	VERB
ajfa-2165	50	16	spot	spot	NOUN
ajfa-2165	50	17	market	market	NOUN
ajfa-2165	50	18	has	have	AUX
ajfa-2165	50	19	increasingly	increasingly	ADV
ajfa-2165	50	20	received	receive	VERB
ajfa-2165	50	21	the	the	DET
ajfa-2165	50	22	attention	attention	NOUN
ajfa-2165	50	23	of	of	ADP
ajfa-2165	50	24	researchers	researcher	NOUN
ajfa-2165	50	25	and	and	CCONJ
ajfa-2165	50	26	policy	policy	NOUN
ajfa-2165	50	27	makers	maker	NOUN
ajfa-2165	50	28	alike	alike	ADV
ajfa-2165	50	29	.	.	PUNCT
ajfa-2165	51	1	this	this	PRON
ajfa-2165	51	2	is	be	AUX
ajfa-2165	51	3	primarily	primarily	ADV
ajfa-2165	51	4	due	due	ADJ
ajfa-2165	51	5	to	to	ADP
ajfa-2165	51	6	the	the	DET
ajfa-2165	51	7	destabilizing	destabilizing	ADJ
ajfa-2165	51	8	perception	perception	NOUN
ajfa-2165	51	9	surrounding	surround	VERB
ajfa-2165	51	10	index	index	NOUN
ajfa-2165	51	11	futures	future	NOUN
ajfa-2165	51	12	in	in	ADP
ajfa-2165	51	13	the	the	DET
ajfa-2165	51	14	context	context	NOUN
ajfa-2165	51	15	of	of	ADP
ajfa-2165	51	16	several	several	ADJ
ajfa-2165	51	17	stock	stock	NOUN
ajfa-2165	51	18	market	market	NOUN
ajfa-2165	51	19	crashes	crash	NOUN
ajfa-2165	51	20	,	,	PUNCT
ajfa-2165	51	21	such	such	ADJ
ajfa-2165	51	22	as	as	ADP
ajfa-2165	51	23	us	us	PROPN
ajfa-2165	51	24	market	market	NOUN
ajfa-2165	51	25	crash	crash	NOUN
ajfa-2165	51	26	of	of	ADP
ajfa-2165	51	27	1987	1987	NUM
ajfa-2165	51	28	,	,	PUNCT
ajfa-2165	51	29	the	the	DET
ajfa-2165	51	30	us	us	PROPN
ajfa-2165	51	31	flash	flash	NOUN
ajfa-2165	51	32	crash	crash	NOUN
ajfa-2165	51	33	in	in	ADP
ajfa-2165	51	34	2010	2010	NUM
ajfa-2165	51	35	,	,	PUNCT
ajfa-2165	51	36	and	and	CCONJ
ajfa-2165	51	37	the	the	DET
ajfa-2165	51	38	indian	indian	ADJ
ajfa-2165	51	39	stock	stock	NOUN
ajfa-2165	51	40	market	market	NOUN
ajfa-2165	51	41	crash	crash	NOUN
ajfa-2165	51	42	in	in	ADP
ajfa-2165	51	43	2008	2008	NUM
ajfa-2165	51	44	.	.	PUNCT
ajfa-2165	52	1	researchers	researcher	NOUN
ajfa-2165	52	2	have	have	AUX
ajfa-2165	52	3	tried	try	VERB
ajfa-2165	52	4	to	to	PART
ajfa-2165	52	5	find	find	VERB
ajfa-2165	52	6	a	a	DET
ajfa-2165	52	7	pattern	pattern	NOUN
ajfa-2165	52	8	in	in	ADP
ajfa-2165	52	9	stock	stock	NOUN
ajfa-2165	52	10	return	return	NOUN
ajfa-2165	52	11	movements	movement	NOUN
ajfa-2165	52	12	or	or	CCONJ
ajfa-2165	52	13	factors	factor	NOUN
ajfa-2165	52	14	determining	determine	VERB
ajfa-2165	52	15	these	these	DET
ajfa-2165	52	16	movements	movement	NOUN
ajfa-2165	52	17	.	.	PUNCT
ajfa-2165	53	1	volatility	volatility	NOUN
ajfa-2165	53	2	is	be	AUX
ajfa-2165	53	3	a	a	DET
ajfa-2165	53	4	very	very	ADV
ajfa-2165	53	5	important	important	ADJ
ajfa-2165	53	6	area	area	NOUN
ajfa-2165	53	7	of	of	ADP
ajfa-2165	53	8	interest	interest	NOUN
ajfa-2165	53	9	for	for	ADP
ajfa-2165	53	10	regulators	regulator	NOUN
ajfa-2165	53	11	and	and	CCONJ
ajfa-2165	53	12	market	market	NOUN
ajfa-2165	53	13	participants	participant	NOUN
ajfa-2165	53	14	who	who	PRON
ajfa-2165	53	15	prefer	prefer	VERB
ajfa-2165	53	16	less	less	ADJ
ajfa-2165	53	17	volatility	volatility	NOUN
ajfa-2165	53	18	to	to	ADP
ajfa-2165	53	19	more	more	ADJ
ajfa-2165	53	20	volatility	volatility	NOUN
ajfa-2165	53	21	.	.	PUNCT
ajfa-2165	54	1	a	a	DET
ajfa-2165	54	2	meaningful	meaningful	ADJ
ajfa-2165	54	3	interpretation	interpretation	NOUN
ajfa-2165	54	4	of	of	ADP
ajfa-2165	54	5	volatility	volatility	NOUN
ajfa-2165	54	6	will	will	AUX
ajfa-2165	54	7	give	give	VERB
ajfa-2165	54	8	significant	significant	ADJ
ajfa-2165	54	9	information	information	NOUN
ajfa-2165	54	10	and	and	CCONJ
ajfa-2165	54	11	will	will	AUX
ajfa-2165	54	12	act	act	VERB
ajfa-2165	54	13	as	as	ADP
ajfa-2165	54	14	a	a	DET
ajfa-2165	54	15	measure	measure	NOUN
ajfa-2165	54	16	to	to	PART
ajfa-2165	54	17	know	know	VERB
ajfa-2165	54	18	as	as	ADP
ajfa-2165	54	19	to	to	ADP
ajfa-2165	54	20	how	how	SCONJ
ajfa-2165	54	21	far	far	ADV
ajfa-2165	54	22	the	the	DET
ajfa-2165	54	23	current	current	ADJ
ajfa-2165	54	24	prices	price	NOUN
ajfa-2165	54	25	of	of	ADP
ajfa-2165	54	26	an	an	DET
ajfa-2165	54	27	asset	asset	NOUN
ajfa-2165	54	28	deviates	deviate	VERB
ajfa-2165	54	29	from	from	ADP
ajfa-2165	54	30	its	its	PRON
ajfa-2165	54	31	average	average	ADJ
ajfa-2165	54	32	past	past	ADJ
ajfa-2165	54	33	prices	price	NOUN
ajfa-2165	54	34	.	.	PUNCT
ajfa-2165	55	1	at	at	ADP
ajfa-2165	55	2	a	a	DET
ajfa-2165	55	3	fundamental	fundamental	ADJ
ajfa-2165	55	4	level	level	NOUN
ajfa-2165	55	5	,	,	PUNCT
ajfa-2165	55	6	volatility	volatility	NOUN
ajfa-2165	55	7	specifies	specify	VERB
ajfa-2165	55	8	the	the	DET
ajfa-2165	55	9	strength	strength	NOUN
ajfa-2165	55	10	or	or	CCONJ
ajfa-2165	55	11	the	the	DET
ajfa-2165	55	12	confidence	confidence	NOUN
ajfa-2165	55	13	behind	behind	ADP
ajfa-2165	55	14	a	a	DET
ajfa-2165	55	15	price	price	NOUN
ajfa-2165	55	16	move	move	NOUN
ajfa-2165	55	17	.	.	PUNCT
ajfa-2165	56	1	instinctively	instinctively	ADV
ajfa-2165	56	2	,	,	PUNCT
ajfa-2165	56	3	it	it	PRON
ajfa-2165	56	4	can	can	AUX
ajfa-2165	56	5	be	be	AUX
ajfa-2165	56	6	argued	argue	VERB
ajfa-2165	56	7	that	that	SCONJ
ajfa-2165	56	8	the	the	DET
ajfa-2165	56	9	measurement	measurement	NOUN
ajfa-2165	56	10	issues	issue	NOUN
ajfa-2165	56	11	of	of	ADP
ajfa-2165	56	12	volatility	volatility	NOUN
ajfa-2165	56	13	can	can	AUX
ajfa-2165	56	14	also	also	ADV
ajfa-2165	56	15	be	be	AUX
ajfa-2165	56	16	useful	useful	ADJ
ajfa-2165	56	17	to	to	PART
ajfa-2165	56	18	comprehend	comprehend	VERB
ajfa-2165	56	19	the	the	DET
ajfa-2165	56	20	market	market	NOUN
ajfa-2165	56	21	assimilation	assimilation	NOUN
ajfa-2165	56	22	,	,	PUNCT
ajfa-2165	56	23	co	co	NOUN
ajfa-2165	56	24	-	-	NOUN
ajfa-2165	56	25	movement	movement	NOUN
ajfa-2165	56	26	and	and	CCONJ
ajfa-2165	56	27	spillover	spillover	VERB
ajfa-2165	56	28	effect	effect	NOUN
ajfa-2165	56	29	.	.	PUNCT
ajfa-2165	57	1	the	the	DET
ajfa-2165	57	2	existence	existence	NOUN
ajfa-2165	57	3	of	of	ADP
ajfa-2165	57	4	volatility	volatility	NOUN
ajfa-2165	57	5	spillover	spillover	VERB
ajfa-2165	57	6	between	between	ADP
ajfa-2165	57	7	the	the	DET
ajfa-2165	57	8	two	two	NUM
ajfa-2165	57	9	markets	market	NOUN
ajfa-2165	57	10	specifies	specifie	NOUN
ajfa-2165	57	11	that	that	SCONJ
ajfa-2165	57	12	the	the	DET
ajfa-2165	57	13	volatility	volatility	NOUN
ajfa-2165	57	14	of	of	ADP
ajfa-2165	57	15	returns	return	NOUN
ajfa-2165	57	16	in	in	ADP
ajfa-2165	57	17	one	one	NUM
ajfa-2165	57	18	market	market	NOUN
ajfa-2165	57	19	has	have	VERB
ajfa-2165	57	20	an	an	DET
ajfa-2165	57	21	important	important	ADJ
ajfa-2165	57	22	effect	effect	NOUN
ajfa-2165	57	23	on	on	ADP
ajfa-2165	57	24	the	the	DET
ajfa-2165	57	25	volatility	volatility	NOUN
ajfa-2165	57	26	of	of	ADP
ajfa-2165	57	27	returns	return	NOUN
ajfa-2165	57	28	in	in	ADP
ajfa-2165	57	29	the	the	DET
ajfa-2165	57	30	other	other	ADJ
ajfa-2165	57	31	market	market	NOUN
ajfa-2165	57	32	.	.	PUNCT
ajfa-2165	58	1	kavussanos	kavussanos	PROPN
ajfa-2165	58	2	and	and	CCONJ
ajfa-2165	58	3	visvikis	visviki	NOUN
ajfa-2165	58	4	(	(	PUNCT
ajfa-2165	58	5	2004	2004	NUM
ajfa-2165	58	6	)	)	PUNCT
ajfa-2165	58	7	note	note	NOUN
ajfa-2165	58	8	,	,	PUNCT
ajfa-2165	58	9	market	market	NOUN
ajfa-2165	58	10	agents	agent	NOUN
ajfa-2165	58	11	can	can	AUX
ajfa-2165	58	12	use	use	VERB
ajfa-2165	58	13	the	the	DET
ajfa-2165	58	14	volatility	volatility	NOUN
ajfa-2165	58	15	transmitting	transmit	VERB
ajfa-2165	58	16	asian	asian	ADJ
ajfa-2165	58	17	journal	journal	NOUN
ajfa-2165	58	18	of	of	ADP
ajfa-2165	58	19	finance	finance	PROPN
ajfa-2165	58	20	&	&	CCONJ
ajfa-2165	58	21	accounting	accounting	PROPN
ajfa-2165	58	22	issn	issn	PROPN
ajfa-2165	58	23	1946	1946	NUM
ajfa-2165	58	24	-	-	PUNCT
ajfa-2165	58	25	052x	052x	NOUN
ajfa-2165	58	26	2013	2013	NUM
ajfa-2165	58	27	,	,	PUNCT
ajfa-2165	58	28	vol	vol	NOUN
ajfa-2165	58	29	.	.	PROPN
ajfa-2165	58	30	5	5	NUM
ajfa-2165	58	31	,	,	PUNCT
ajfa-2165	58	32	no	no	INTJ
ajfa-2165	58	33	.	.	NOUN
ajfa-2165	58	34	1	1	NUM
ajfa-2165	58	35	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	58	36	292	292	NUM
ajfa-2165	58	37	market	market	NOUN
ajfa-2165	58	38	in	in	ADP
ajfa-2165	58	39	order	order	NOUN
ajfa-2165	58	40	to	to	PART
ajfa-2165	58	41	cover	cover	VERB
ajfa-2165	58	42	the	the	DET
ajfa-2165	58	43	risk	risk	NOUN
ajfa-2165	58	44	exposure	exposure	NOUN
ajfa-2165	58	45	that	that	PRON
ajfa-2165	58	46	they	they	PRON
ajfa-2165	58	47	challenge	challenge	VERB
ajfa-2165	58	48	.	.	PUNCT
ajfa-2165	59	1	considerable	considerable	ADJ
ajfa-2165	59	2	amount	amount	NOUN
ajfa-2165	59	3	of	of	ADP
ajfa-2165	59	4	research	research	NOUN
ajfa-2165	59	5	work	work	NOUN
ajfa-2165	59	6	has	have	AUX
ajfa-2165	59	7	been	be	AUX
ajfa-2165	59	8	conducted	conduct	VERB
ajfa-2165	59	9	in	in	ADP
ajfa-2165	59	10	the	the	DET
ajfa-2165	59	11	field	field	NOUN
ajfa-2165	59	12	of	of	ADP
ajfa-2165	59	13	volatility	volatility	NOUN
ajfa-2165	59	14	and	and	CCONJ
ajfa-2165	59	15	its	its	PRON
ajfa-2165	59	16	spillover	spillover	NOUN
ajfa-2165	59	17	,	,	PUNCT
ajfa-2165	59	18	the	the	DET
ajfa-2165	59	19	results	result	NOUN
ajfa-2165	59	20	of	of	ADP
ajfa-2165	59	21	which	which	PRON
ajfa-2165	59	22	are	be	AUX
ajfa-2165	59	23	mixed	mixed	ADJ
ajfa-2165	59	24	.	.	PUNCT
ajfa-2165	60	1	for	for	ADP
ajfa-2165	60	2	modeling	model	VERB
ajfa-2165	60	3	volatility	volatility	NOUN
ajfa-2165	60	4	the	the	DET
ajfa-2165	60	5	work	work	NOUN
ajfa-2165	60	6	done	do	VERB
ajfa-2165	60	7	by	by	ADP
ajfa-2165	60	8	pre	pre	ADJ
ajfa-2165	60	9	-	-	NOUN
ajfa-2165	60	10	eminence	eminence	NOUN
ajfa-2165	60	11	of	of	ADP
ajfa-2165	60	12	bollerslev	bollerslev	NOUN
ajfa-2165	60	13	(	(	PUNCT
ajfa-2165	60	14	1986	1986	NUM
ajfa-2165	60	15	)	)	PUNCT
ajfa-2165	60	16	,	,	PUNCT
ajfa-2165	60	17	engle	engle	NOUN
ajfa-2165	60	18	(	(	PUNCT
ajfa-2165	60	19	1982	1982	NUM
ajfa-2165	60	20	)	)	PUNCT
ajfa-2165	60	21	,	,	PUNCT
ajfa-2165	60	22	bollerslev	bollerslev	NOUN
ajfa-2165	60	23	and	and	CCONJ
ajfa-2165	60	24	engle	engle	PROPN
ajfa-2165	60	25	(	(	PUNCT
ajfa-2165	60	26	1986	1986	NUM
ajfa-2165	60	27	)	)	PUNCT
ajfa-2165	60	28	is	be	AUX
ajfa-2165	60	29	noteworthy	noteworthy	ADJ
ajfa-2165	60	30	.	.	PUNCT
ajfa-2165	61	1	therefore	therefore	ADV
ajfa-2165	61	2	,	,	PUNCT
ajfa-2165	61	3	it	it	PRON
ajfa-2165	61	4	has	have	AUX
ajfa-2165	61	5	become	become	VERB
ajfa-2165	61	6	necessary	necessary	ADJ
ajfa-2165	61	7	,	,	PUNCT
ajfa-2165	61	8	from	from	ADP
ajfa-2165	61	9	time	time	NOUN
ajfa-2165	61	10	to	to	ADP
ajfa-2165	61	11	time	time	NOUN
ajfa-2165	61	12	,	,	PUNCT
ajfa-2165	61	13	to	to	PART
ajfa-2165	61	14	conduct	conduct	VERB
ajfa-2165	61	15	empirical	empirical	ADJ
ajfa-2165	61	16	studies	study	NOUN
ajfa-2165	61	17	to	to	PART
ajfa-2165	61	18	measure	measure	VERB
ajfa-2165	61	19	the	the	DET
ajfa-2165	61	20	impact	impact	NOUN
ajfa-2165	61	21	of	of	ADP
ajfa-2165	61	22	financial	financial	ADJ
ajfa-2165	61	23	derivatives	derivative	NOUN
ajfa-2165	61	24	,	,	PUNCT
ajfa-2165	61	25	on	on	ADP
ajfa-2165	61	26	volatility	volatility	NOUN
ajfa-2165	61	27	spillover	spillover	VERB
ajfa-2165	61	28	to	to	PART
ajfa-2165	61	29	spot	spot	VERB
ajfa-2165	61	30	market	market	NOUN
ajfa-2165	61	31	and	and	CCONJ
ajfa-2165	61	32	vice	vice	NOUN
ajfa-2165	61	33	-	-	NOUN
ajfa-2165	61	34	versa	versa	ADJ
ajfa-2165	61	35	.	.	PUNCT
ajfa-2165	62	1	generally	generally	ADV
ajfa-2165	62	2	,	,	PUNCT
ajfa-2165	62	3	volatility	volatility	NOUN
ajfa-2165	62	4	is	be	AUX
ajfa-2165	62	5	considered	consider	VERB
ajfa-2165	62	6	as	as	ADP
ajfa-2165	62	7	a	a	DET
ajfa-2165	62	8	measurement	measurement	NOUN
ajfa-2165	62	9	of	of	ADP
ajfa-2165	62	10	risk	risk	NOUN
ajfa-2165	62	11	in	in	ADP
ajfa-2165	62	12	the	the	DET
ajfa-2165	62	13	stock	stock	NOUN
ajfa-2165	62	14	market	market	NOUN
ajfa-2165	62	15	return	return	NOUN
ajfa-2165	62	16	and	and	CCONJ
ajfa-2165	62	17	a	a	DET
ajfa-2165	62	18	lot	lot	NOUN
ajfa-2165	62	19	of	of	ADP
ajfa-2165	62	20	discussions	discussion	NOUN
ajfa-2165	62	21	have	have	AUX
ajfa-2165	62	22	taken	take	VERB
ajfa-2165	62	23	place	place	NOUN
ajfa-2165	62	24	about	about	ADP
ajfa-2165	62	25	the	the	DET
ajfa-2165	62	26	nature	nature	NOUN
ajfa-2165	62	27	of	of	ADP
ajfa-2165	62	28	stock	stock	NOUN
ajfa-2165	62	29	return	return	NOUN
ajfa-2165	62	30	volatility	volatility	NOUN
ajfa-2165	62	31	.	.	PUNCT
ajfa-2165	63	1	therefore	therefore	ADV
ajfa-2165	63	2	,	,	PUNCT
ajfa-2165	63	3	understanding	understand	VERB
ajfa-2165	63	4	factors	factor	NOUN
ajfa-2165	63	5	that	that	PRON
ajfa-2165	63	6	affect	affect	VERB
ajfa-2165	63	7	stock	stock	NOUN
ajfa-2165	63	8	return	return	NOUN
ajfa-2165	63	9	volatility	volatility	NOUN
ajfa-2165	63	10	is	be	AUX
ajfa-2165	63	11	an	an	DET
ajfa-2165	63	12	imperative	imperative	ADJ
ajfa-2165	63	13	task	task	NOUN
ajfa-2165	63	14	in	in	ADP
ajfa-2165	63	15	many	many	ADJ
ajfa-2165	63	16	ways	way	NOUN
ajfa-2165	63	17	.	.	PUNCT
ajfa-2165	64	1	issues	issue	NOUN
ajfa-2165	64	2	like	like	ADP
ajfa-2165	64	3	price	price	NOUN
ajfa-2165	64	4	discovery	discovery	NOUN
ajfa-2165	64	5	and	and	CCONJ
ajfa-2165	64	6	volatility	volatility	NOUN
ajfa-2165	64	7	spillover	spillover	NOUN
ajfa-2165	64	8	have	have	AUX
ajfa-2165	64	9	been	be	AUX
ajfa-2165	64	10	extensively	extensively	ADV
ajfa-2165	64	11	researched	research	VERB
ajfa-2165	64	12	for	for	ADP
ajfa-2165	64	13	mature	mature	ADJ
ajfa-2165	64	14	markets	market	NOUN
ajfa-2165	64	15	.	.	PUNCT
ajfa-2165	65	1	the	the	DET
ajfa-2165	65	2	work	work	NOUN
ajfa-2165	65	3	is	be	AUX
ajfa-2165	65	4	very	very	ADV
ajfa-2165	65	5	limited	limited	ADJ
ajfa-2165	65	6	for	for	ADP
ajfa-2165	65	7	emerging	emerge	VERB
ajfa-2165	65	8	markets	market	NOUN
ajfa-2165	65	9	in	in	ADP
ajfa-2165	65	10	general	general	ADJ
ajfa-2165	65	11	and	and	CCONJ
ajfa-2165	65	12	india	india	PROPN
ajfa-2165	65	13	in	in	ADP
ajfa-2165	65	14	particular	particular	ADJ
ajfa-2165	65	15	.	.	PUNCT
ajfa-2165	66	1	in	in	ADP
ajfa-2165	66	2	this	this	DET
ajfa-2165	66	3	backdrop	backdrop	NOUN
ajfa-2165	66	4	,	,	PUNCT
ajfa-2165	66	5	an	an	DET
ajfa-2165	66	6	attempt	attempt	NOUN
ajfa-2165	66	7	has	have	AUX
ajfa-2165	66	8	been	be	AUX
ajfa-2165	66	9	made	make	VERB
ajfa-2165	66	10	to	to	PART
ajfa-2165	66	11	revisit	revisit	VERB
ajfa-2165	66	12	the	the	DET
ajfa-2165	66	13	debate	debate	NOUN
ajfa-2165	66	14	on	on	ADP
ajfa-2165	66	15	volatility	volatility	NOUN
ajfa-2165	66	16	spillover	spillover	VERB
ajfa-2165	66	17	in	in	ADP
ajfa-2165	66	18	indian	indian	ADJ
ajfa-2165	66	19	stock	stock	NOUN
ajfa-2165	66	20	market	market	NOUN
ajfa-2165	66	21	.	.	PUNCT
ajfa-2165	67	1	it	it	PRON
ajfa-2165	67	2	covers	cover	VERB
ajfa-2165	67	3	fairly	fairly	ADV
ajfa-2165	67	4	longer	long	ADJ
ajfa-2165	67	5	study	study	NOUN
ajfa-2165	67	6	period	period	NOUN
ajfa-2165	67	7	compared	compare	VERB
ajfa-2165	67	8	to	to	ADP
ajfa-2165	67	9	prior	prior	ADJ
ajfa-2165	67	10	research	research	NOUN
ajfa-2165	67	11	of	of	ADP
ajfa-2165	67	12	the	the	DET
ajfa-2165	67	13	subject	subject	NOUN
ajfa-2165	67	14	.	.	PUNCT
ajfa-2165	68	1	the	the	DET
ajfa-2165	68	2	study	study	NOUN
ajfa-2165	68	3	attempts	attempt	VERB
ajfa-2165	68	4	to	to	PART
ajfa-2165	68	5	address	address	VERB
ajfa-2165	68	6	the	the	DET
ajfa-2165	68	7	following	following	ADJ
ajfa-2165	68	8	questions	question	NOUN
ajfa-2165	68	9	:	:	PUNCT
ajfa-2165	68	10	is	be	AUX
ajfa-2165	68	11	there	there	PRON
ajfa-2165	68	12	a	a	DET
ajfa-2165	68	13	volatility	volatility	NOUN
ajfa-2165	68	14	spillover	spillover	VERB
ajfa-2165	68	15	from	from	ADP
ajfa-2165	68	16	futures	future	NOUN
ajfa-2165	68	17	market	market	NOUN
ajfa-2165	68	18	to	to	PART
ajfa-2165	68	19	spot	spot	VERB
ajfa-2165	68	20	market	market	NOUN
ajfa-2165	68	21	and	and	CCONJ
ajfa-2165	68	22	vice	vice	NOUN
ajfa-2165	68	23	-	-	NOUN
ajfa-2165	68	24	versa	versa	ADJ
ajfa-2165	68	25	?	?	PUNCT
ajfa-2165	69	1	the	the	DET
ajfa-2165	69	2	remainder	remainder	NOUN
ajfa-2165	69	3	of	of	ADP
ajfa-2165	69	4	the	the	DET
ajfa-2165	69	5	paper	paper	NOUN
ajfa-2165	69	6	is	be	AUX
ajfa-2165	69	7	organized	organize	VERB
ajfa-2165	69	8	as	as	SCONJ
ajfa-2165	69	9	follows	follow	VERB
ajfa-2165	69	10	.	.	PUNCT
ajfa-2165	70	1	section	section	NOUN
ajfa-2165	70	2	one	one	PRON
ajfa-2165	70	3	gives	give	VERB
ajfa-2165	70	4	review	review	NOUN
ajfa-2165	70	5	of	of	ADP
ajfa-2165	70	6	literature	literature	NOUN
ajfa-2165	70	7	and	and	CCONJ
ajfa-2165	70	8	the	the	DET
ajfa-2165	70	9	relevance	relevance	NOUN
ajfa-2165	70	10	of	of	ADP
ajfa-2165	70	11	study	study	NOUN
ajfa-2165	70	12	.	.	PUNCT
ajfa-2165	71	1	section	section	NOUN
ajfa-2165	71	2	two	two	NUM
ajfa-2165	71	3	contains	contain	VERB
ajfa-2165	71	4	description	description	NOUN
ajfa-2165	71	5	of	of	ADP
ajfa-2165	71	6	data	datum	NOUN
ajfa-2165	71	7	and	and	CCONJ
ajfa-2165	71	8	the	the	DET
ajfa-2165	71	9	methodology	methodology	NOUN
ajfa-2165	71	10	employed	employ	VERB
ajfa-2165	71	11	along	along	ADP
ajfa-2165	71	12	with	with	ADP
ajfa-2165	71	13	the	the	DET
ajfa-2165	71	14	empirical	empirical	ADJ
ajfa-2165	71	15	tests	test	NOUN
ajfa-2165	71	16	carried	carry	VERB
ajfa-2165	71	17	out	out	ADP
ajfa-2165	71	18	.	.	PUNCT
ajfa-2165	72	1	section	section	NOUN
ajfa-2165	72	2	iii	iii	PROPN
ajfa-2165	72	3	exhibits	exhibit	VERB
ajfa-2165	72	4	analysis	analysis	NOUN
ajfa-2165	72	5	and	and	CCONJ
ajfa-2165	72	6	interpretation	interpretation	NOUN
ajfa-2165	72	7	of	of	ADP
ajfa-2165	72	8	the	the	DET
ajfa-2165	72	9	data	datum	NOUN
ajfa-2165	72	10	through	through	ADP
ajfa-2165	72	11	a	a	DET
ajfa-2165	72	12	variety	variety	NOUN
ajfa-2165	72	13	of	of	ADP
ajfa-2165	72	14	tables	table	NOUN
ajfa-2165	72	15	into	into	ADP
ajfa-2165	72	16	which	which	PRON
ajfa-2165	72	17	relevant	relevant	ADJ
ajfa-2165	72	18	details	detail	NOUN
ajfa-2165	72	19	have	have	AUX
ajfa-2165	72	20	been	be	AUX
ajfa-2165	72	21	compressed	compress	VERB
ajfa-2165	72	22	and	and	CCONJ
ajfa-2165	72	23	summarized	summarize	VERB
ajfa-2165	72	24	under	under	ADP
ajfa-2165	72	25	appropriate	appropriate	ADJ
ajfa-2165	72	26	heads	head	NOUN
ajfa-2165	72	27	and	and	CCONJ
ajfa-2165	72	28	presented	present	VERB
ajfa-2165	72	29	in	in	ADP
ajfa-2165	72	30	the	the	DET
ajfa-2165	72	31	tables	table	NOUN
ajfa-2165	72	32	.	.	PUNCT
ajfa-2165	73	1	section	section	NOUN
ajfa-2165	73	2	iv	iv	PRON
ajfa-2165	73	3	provides	provide	VERB
ajfa-2165	73	4	brief	brief	ADJ
ajfa-2165	73	5	summary	summary	NOUN
ajfa-2165	73	6	,	,	PUNCT
ajfa-2165	73	7	conclusion	conclusion	NOUN
ajfa-2165	73	8	of	of	ADP
ajfa-2165	73	9	the	the	DET
ajfa-2165	73	10	main	main	ADJ
ajfa-2165	73	11	findings	finding	NOUN
ajfa-2165	73	12	,	,	PUNCT
ajfa-2165	73	13	policy	policy	NOUN
ajfa-2165	73	14	implications	implication	NOUN
ajfa-2165	73	15	.	.	PUNCT
ajfa-2165	74	1	review	review	NOUN
ajfa-2165	74	2	of	of	ADP
ajfa-2165	74	3	literature	literature	PROPN
ajfa-2165	74	4	cox	cox	PROPN
ajfa-2165	74	5	(	(	PUNCT
ajfa-2165	74	6	1976	1976	NUM
ajfa-2165	74	7	)	)	PUNCT
ajfa-2165	74	8	opine	opine	VERB
ajfa-2165	74	9	that	that	SCONJ
ajfa-2165	74	10	the	the	DET
ajfa-2165	74	11	introduction	introduction	NOUN
ajfa-2165	74	12	of	of	ADP
ajfa-2165	74	13	futures	future	NOUN
ajfa-2165	74	14	markets	market	NOUN
ajfa-2165	74	15	led	lead	VERB
ajfa-2165	74	16	to	to	PART
ajfa-2165	74	17	increase	increase	VERB
ajfa-2165	74	18	in	in	ADP
ajfa-2165	74	19	informational	informational	ADJ
ajfa-2165	74	20	efficiency	efficiency	NOUN
ajfa-2165	74	21	,	,	PUNCT
ajfa-2165	74	22	as	as	SCONJ
ajfa-2165	74	23	futures	future	NOUN
ajfa-2165	74	24	are	be	AUX
ajfa-2165	74	25	relatively	relatively	ADV
ajfa-2165	74	26	inexpensive	inexpensive	ADJ
ajfa-2165	74	27	,	,	PUNCT
ajfa-2165	74	28	have	have	VERB
ajfa-2165	74	29	low	low	ADJ
ajfa-2165	74	30	margin	margin	NOUN
ajfa-2165	74	31	requirements	requirement	NOUN
ajfa-2165	74	32	and	and	CCONJ
ajfa-2165	74	33	low	low	ADJ
ajfa-2165	74	34	transaction	transaction	NOUN
ajfa-2165	74	35	costs	cost	NOUN
ajfa-2165	74	36	.	.	PUNCT
ajfa-2165	75	1	figlewski	figlewski	NOUN
ajfa-2165	75	2	(	(	PUNCT
ajfa-2165	75	3	1978	1978	NUM
ajfa-2165	75	4	)	)	PUNCT
ajfa-2165	75	5	suggests	suggest	VERB
ajfa-2165	75	6	that	that	SCONJ
ajfa-2165	75	7	the	the	DET
ajfa-2165	75	8	new	new	ADJ
ajfa-2165	75	9	traders	trader	NOUN
ajfa-2165	75	10	in	in	ADP
ajfa-2165	75	11	the	the	DET
ajfa-2165	75	12	gnma	gnma	NOUN
ajfa-2165	75	13	market	market	NOUN
ajfa-2165	75	14	add	add	VERB
ajfa-2165	75	15	noise	noise	NOUN
ajfa-2165	75	16	to	to	ADP
ajfa-2165	75	17	gnma	gnma	NOUN
ajfa-2165	75	18	securities	security	NOUN
ajfa-2165	75	19	trading	trading	NOUN
ajfa-2165	75	20	because	because	SCONJ
ajfa-2165	75	21	of	of	ADP
ajfa-2165	75	22	the	the	DET
ajfa-2165	75	23	introduction	introduction	NOUN
ajfa-2165	75	24	of	of	ADP
ajfa-2165	75	25	futures	future	NOUN
ajfa-2165	75	26	trading	trading	NOUN
ajfa-2165	75	27	.	.	PUNCT
ajfa-2165	76	1	cox	cox	PROPN
ajfa-2165	76	2	,	,	PUNCT
ajfa-2165	76	3	1976	1976	NUM
ajfa-2165	76	4	;	;	PUNCT
ajfa-2165	76	5	stein	stein	PROPN
ajfa-2165	76	6	,	,	PUNCT
ajfa-2165	76	7	1987	1987	NUM
ajfa-2165	76	8	;	;	PUNCT
ajfa-2165	76	9	ross	ross	PROPN
ajfa-2165	76	10	,	,	PUNCT
ajfa-2165	76	11	1989	1989	NUM
ajfa-2165	76	12	,	,	PUNCT
ajfa-2165	76	13	chan	chan	PROPN
ajfa-2165	76	14	et	et	PROPN
ajfa-2165	76	15	al	al	PROPN
ajfa-2165	76	16	.	.	PROPN
ajfa-2165	76	17	,1991	,1991	PUNCT
ajfa-2165	76	18	conclude	conclude	VERB
ajfa-2165	76	19	that	that	SCONJ
ajfa-2165	76	20	index	index	NOUN
ajfa-2165	76	21	futures	future	NOUN
ajfa-2165	76	22	enable	enable	VERB
ajfa-2165	76	23	investors	investor	NOUN
ajfa-2165	76	24	to	to	PART
ajfa-2165	76	25	trade	trade	VERB
ajfa-2165	76	26	large	large	ADJ
ajfa-2165	76	27	volumes	volume	NOUN
ajfa-2165	76	28	at	at	ADP
ajfa-2165	76	29	lower	low	ADJ
ajfa-2165	76	30	transaction	transaction	NOUN
ajfa-2165	76	31	costs	cost	NOUN
ajfa-2165	76	32	,	,	PUNCT
ajfa-2165	76	33	improve	improve	VERB
ajfa-2165	76	34	risk	risk	NOUN
ajfa-2165	76	35	sharing	sharing	NOUN
ajfa-2165	76	36	and	and	CCONJ
ajfa-2165	76	37	reduce	reduce	VERB
ajfa-2165	76	38	volatility	volatility	NOUN
ajfa-2165	76	39	.	.	PUNCT
ajfa-2165	77	1	figlewski	figlewski	NOUN
ajfa-2165	77	2	(	(	PUNCT
ajfa-2165	77	3	1981	1981	NUM
ajfa-2165	77	4	)	)	PUNCT
ajfa-2165	77	5	examines	examine	VERB
ajfa-2165	77	6	impact	impact	NOUN
ajfa-2165	77	7	of	of	ADP
ajfa-2165	77	8	futures	future	NOUN
ajfa-2165	77	9	trading	trading	NOUN
ajfa-2165	77	10	on	on	ADP
ajfa-2165	77	11	government	government	NOUN
ajfa-2165	77	12	national	national	PROPN
ajfa-2165	77	13	mortgage	mortgage	PROPN
ajfa-2165	77	14	association	association	PROPN
ajfa-2165	77	15	(	(	PUNCT
ajfa-2165	77	16	gnma	gnma	NOUN
ajfa-2165	77	17	)	)	PUNCT
ajfa-2165	77	18	market	market	NOUN
ajfa-2165	77	19	volatility	volatility	NOUN
ajfa-2165	77	20	.	.	PUNCT
ajfa-2165	78	1	he	he	PRON
ajfa-2165	78	2	concludes	conclude	VERB
ajfa-2165	78	3	that	that	SCONJ
ajfa-2165	78	4	the	the	DET
ajfa-2165	78	5	volatility	volatility	NOUN
ajfa-2165	78	6	of	of	ADP
ajfa-2165	78	7	the	the	DET
ajfa-2165	78	8	gnma	gnma	NOUN
ajfa-2165	78	9	security	security	NOUN
ajfa-2165	78	10	market	market	NOUN
ajfa-2165	78	11	is	be	AUX
ajfa-2165	78	12	related	relate	VERB
ajfa-2165	78	13	to	to	ADP
ajfa-2165	78	14	several	several	ADJ
ajfa-2165	78	15	factors	factor	NOUN
ajfa-2165	78	16	,	,	PUNCT
ajfa-2165	78	17	including	include	VERB
ajfa-2165	78	18	futures	future	NOUN
ajfa-2165	78	19	trading	trading	NOUN
ajfa-2165	78	20	.	.	PUNCT
ajfa-2165	79	1	the	the	DET
ajfa-2165	79	2	amount	amount	NOUN
ajfa-2165	79	3	of	of	ADP
ajfa-2165	79	4	outstanding	outstanding	ADJ
ajfa-2165	79	5	gnma	gnma	NOUN
ajfa-2165	79	6	lowers	lower	VERB
ajfa-2165	79	7	cash	cash	NOUN
ajfa-2165	79	8	market	market	NOUN
ajfa-2165	79	9	volatility	volatility	NOUN
ajfa-2165	79	10	and	and	CCONJ
ajfa-2165	79	11	futures	future	NOUN
ajfa-2165	79	12	trading	trading	NOUN
ajfa-2165	79	13	increases	increase	NOUN
ajfa-2165	79	14	gnma	gnma	NOUN
ajfa-2165	79	15	security	security	NOUN
ajfa-2165	79	16	volatility	volatility	NOUN
ajfa-2165	79	17	.	.	PUNCT
ajfa-2165	80	1	stein	stein	PROPN
ajfa-2165	80	2	(	(	PUNCT
ajfa-2165	80	3	1987	1987	NUM
ajfa-2165	80	4	)	)	PUNCT
ajfa-2165	80	5	developed	develop	VERB
ajfa-2165	80	6	a	a	DET
ajfa-2165	80	7	model	model	NOUN
ajfa-2165	80	8	to	to	PART
ajfa-2165	80	9	determine	determine	VERB
ajfa-2165	80	10	prices	price	NOUN
ajfa-2165	80	11	by	by	ADP
ajfa-2165	80	12	the	the	DET
ajfa-2165	80	13	interaction	interaction	NOUN
ajfa-2165	80	14	between	between	ADP
ajfa-2165	80	15	hedger	hedger	NOUN
ajfa-2165	80	16	and	and	CCONJ
ajfa-2165	80	17	informed	informed	ADJ
ajfa-2165	80	18	speculators	speculator	NOUN
ajfa-2165	80	19	.	.	PUNCT
ajfa-2165	81	1	his	his	PRON
ajfa-2165	81	2	model	model	NOUN
ajfa-2165	81	3	demonstrates	demonstrate	VERB
ajfa-2165	81	4	that	that	SCONJ
ajfa-2165	81	5	futures	future	NOUN
ajfa-2165	81	6	markets	market	NOUN
ajfa-2165	81	7	reduce	reduce	VERB
ajfa-2165	81	8	volatility	volatility	NOUN
ajfa-2165	81	9	and	and	CCONJ
ajfa-2165	81	10	act	act	VERB
ajfa-2165	81	11	as	as	ADP
ajfa-2165	81	12	essential	essential	ADJ
ajfa-2165	81	13	tool	tool	NOUN
ajfa-2165	81	14	for	for	ADP
ajfa-2165	81	15	risk	risk	NOUN
ajfa-2165	81	16	management	management	NOUN
ajfa-2165	81	17	.	.	PUNCT
ajfa-2165	82	1	kawaller	kawaller	PROPN
ajfa-2165	82	2	et	et	PROPN
ajfa-2165	82	3	al	al	PROPN
ajfa-2165	82	4	.	.	PROPN
ajfa-2165	83	1	(	(	PUNCT
ajfa-2165	83	2	1987	1987	NUM
ajfa-2165	83	3	)	)	PUNCT
ajfa-2165	83	4	conclude	conclude	VERB
ajfa-2165	83	5	that	that	SCONJ
ajfa-2165	83	6	movements	movement	NOUN
ajfa-2165	83	7	in	in	ADP
ajfa-2165	83	8	the	the	DET
ajfa-2165	83	9	index	index	NOUN
ajfa-2165	83	10	futures	future	NOUN
ajfa-2165	83	11	market	market	NOUN
ajfa-2165	83	12	led	lead	VERB
ajfa-2165	83	13	to	to	ADP
ajfa-2165	83	14	movements	movement	NOUN
ajfa-2165	83	15	in	in	ADP
ajfa-2165	83	16	the	the	DET
ajfa-2165	83	17	spot	spot	NOUN
ajfa-2165	83	18	market	market	NOUN
ajfa-2165	83	19	.	.	PUNCT
ajfa-2165	84	1	edwards	edwards	PROPN
ajfa-2165	84	2	(	(	PUNCT
ajfa-2165	84	3	1988	1988	NUM
ajfa-2165	84	4	)	)	PUNCT
ajfa-2165	84	5	examines	examine	VERB
ajfa-2165	84	6	the	the	DET
ajfa-2165	84	7	volatility	volatility	NOUN
ajfa-2165	84	8	effects	effect	NOUN
ajfa-2165	84	9	of	of	ADP
ajfa-2165	84	10	the	the	DET
ajfa-2165	84	11	introduction	introduction	NOUN
ajfa-2165	84	12	of	of	ADP
ajfa-2165	84	13	share	share	NOUN
ajfa-2165	84	14	futures	future	NOUN
ajfa-2165	84	15	on	on	ADP
ajfa-2165	84	16	percentage	percentage	NOUN
ajfa-2165	84	17	daily	daily	ADJ
ajfa-2165	84	18	changes	change	NOUN
ajfa-2165	84	19	in	in	ADP
ajfa-2165	84	20	the	the	DET
ajfa-2165	84	21	level	level	NOUN
ajfa-2165	84	22	of	of	ADP
ajfa-2165	84	23	the	the	DET
ajfa-2165	84	24	s&p	s&p	PROPN
ajfa-2165	84	25	500	500	NUM
ajfa-2165	84	26	index	index	NOUN
ajfa-2165	84	27	from	from	ADP
ajfa-2165	84	28	1972	1972	NUM
ajfa-2165	84	29	to	to	ADP
ajfa-2165	84	30	1987	1987	NUM
ajfa-2165	84	31	.	.	PUNCT
ajfa-2165	85	1	he	he	PRON
ajfa-2165	85	2	concludes	conclude	VERB
ajfa-2165	85	3	that	that	SCONJ
ajfa-2165	85	4	that	that	SCONJ
ajfa-2165	85	5	there	there	PRON
ajfa-2165	85	6	is	be	VERB
ajfa-2165	85	7	no	no	DET
ajfa-2165	85	8	rise	rise	NOUN
ajfa-2165	85	9	in	in	ADP
ajfa-2165	85	10	volatility	volatility	NOUN
ajfa-2165	85	11	subsequent	subsequent	ADJ
ajfa-2165	85	12	to	to	ADP
ajfa-2165	85	13	the	the	DET
ajfa-2165	85	14	introduction	introduction	NOUN
ajfa-2165	85	15	of	of	ADP
ajfa-2165	85	16	index	index	NOUN
ajfa-2165	85	17	futures	future	NOUN
ajfa-2165	85	18	.	.	PUNCT
ajfa-2165	86	1	in	in	ADP
ajfa-2165	86	2	fact	fact	NOUN
ajfa-2165	86	3	,	,	PUNCT
ajfa-2165	86	4	he	he	PRON
ajfa-2165	86	5	reported	report	VERB
ajfa-2165	86	6	that	that	SCONJ
ajfa-2165	86	7	volatility	volatility	NOUN
ajfa-2165	86	8	in	in	ADP
ajfa-2165	86	9	the	the	DET
ajfa-2165	86	10	stock	stock	NOUN
ajfa-2165	86	11	market	market	NOUN
ajfa-2165	86	12	decreased	decrease	VERB
ajfa-2165	86	13	after	after	SCONJ
ajfa-2165	86	14	futures	future	NOUN
ajfa-2165	86	15	trading	trading	NOUN
ajfa-2165	86	16	began	begin	VERB
ajfa-2165	86	17	,	,	PUNCT
ajfa-2165	86	18	although	although	SCONJ
ajfa-2165	86	19	he	he	PRON
ajfa-2165	86	20	does	do	AUX
ajfa-2165	86	21	not	not	PART
ajfa-2165	86	22	directly	directly	ADV
ajfa-2165	86	23	attribute	attribute	VERB
ajfa-2165	86	24	the	the	DET
ajfa-2165	86	25	decrease	decrease	NOUN
ajfa-2165	86	26	to	to	ADP
ajfa-2165	86	27	futures	future	NOUN
ajfa-2165	86	28	trading	trading	NOUN
ajfa-2165	86	29	.	.	PUNCT
ajfa-2165	87	1	harris	harris	PROPN
ajfa-2165	87	2	(	(	PUNCT
ajfa-2165	87	3	1989	1989	NUM
ajfa-2165	87	4	)	)	PUNCT
ajfa-2165	87	5	examines	examine	VERB
ajfa-2165	87	6	the	the	DET
ajfa-2165	87	7	asian	asian	ADJ
ajfa-2165	87	8	journal	journal	NOUN
ajfa-2165	87	9	of	of	ADP
ajfa-2165	87	10	finance	finance	PROPN
ajfa-2165	87	11	&	&	CCONJ
ajfa-2165	87	12	accounting	accounting	PROPN
ajfa-2165	87	13	issn	issn	PROPN
ajfa-2165	87	14	1946	1946	NUM
ajfa-2165	87	15	-	-	PUNCT
ajfa-2165	87	16	052x	052x	NOUN
ajfa-2165	87	17	2013	2013	NUM
ajfa-2165	87	18	,	,	PUNCT
ajfa-2165	87	19	vol	vol	NOUN
ajfa-2165	87	20	.	.	PROPN
ajfa-2165	87	21	5	5	NUM
ajfa-2165	87	22	,	,	PUNCT
ajfa-2165	87	23	no	no	INTJ
ajfa-2165	87	24	.	.	NOUN
ajfa-2165	87	25	1	1	NUM
ajfa-2165	87	26	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-2165	87	27	293	293	NUM
ajfa-2165	87	28	impact	impact	NOUN
ajfa-2165	87	29	of	of	ADP
ajfa-2165	87	30	s&p	s&p	PROPN
ajfa-2165	87	31	500	500	NUM
ajfa-2165	87	32	index	index	NOUN
ajfa-2165	87	33	futures	future	NOUN
ajfa-2165	87	34	and	and	CCONJ
ajfa-2165	87	35	options	option	NOUN
ajfa-2165	87	36	trading	trading	NOUN
ajfa-2165	87	37	on	on	ADP
ajfa-2165	87	38	the	the	DET
ajfa-2165	87	39	volatility	volatility	NOUN
ajfa-2165	87	40	of	of	ADP
ajfa-2165	87	41	the	the	DET
ajfa-2165	87	42	firms	firm	NOUN
ajfa-2165	87	43	'	'	PART
ajfa-2165	87	44	shares	share	NOUN
ajfa-2165	87	45	that	that	PRON
ajfa-2165	87	46	comprise	comprise	VERB
ajfa-2165	87	47	the	the	DET
ajfa-2165	87	48	s&p	s&p	PROPN
ajfa-2165	87	49	500	500	NUM
ajfa-2165	87	50	.	.	PUNCT
ajfa-2165	88	1	he	he	PRON
ajfa-2165	88	2	reports	report	VERB
ajfa-2165	88	3	no	no	DET
ajfa-2165	88	4	significant	significant	ADJ
ajfa-2165	88	5	difference	difference	NOUN
ajfa-2165	88	6	in	in	ADP
ajfa-2165	88	7	the	the	DET
ajfa-2165	88	8	volatility	volatility	NOUN
ajfa-2165	88	9	of	of	ADP
ajfa-2165	88	10	the	the	DET
ajfa-2165	88	11	s&p	s&p	PROPN
ajfa-2165	88	12	500	500	NUM
ajfa-2165	88	13	stocks	stock	NOUN
ajfa-2165	88	14	as	as	SCONJ
ajfa-2165	88	15	compared	compare	VERB
ajfa-2165	88	16	to	to	ADP
ajfa-2165	88	17	a	a	DET
ajfa-2165	88	18	control	control	NOUN
ajfa-2165	88	19	sample	sample	NOUN
ajfa-2165	88	20	of	of	ADP
ajfa-2165	88	21	500	500	NUM
ajfa-2165	88	22	matching	matching	NOUN
ajfa-2165	88	23	shares	share	NOUN
ajfa-2165	88	24	in	in	ADP
ajfa-2165	88	25	the	the	DET
ajfa-2165	88	26	period	period	NOUN
ajfa-2165	88	27	1975	1975	NUM
ajfa-2165	88	28	to1983	to1983	PROPN
ajfa-2165	88	29	before	before	ADP
ajfa-2165	88	30	the	the	DET
ajfa-2165	88	31	start	start	NOUN
ajfa-2165	88	32	of	of	ADP
ajfa-2165	88	33	trade	trade	NOUN
ajfa-2165	88	34	in	in	ADP
ajfa-2165	88	35	index	index	NOUN
ajfa-2165	88	36	options	option	NOUN
ajfa-2165	88	37	and	and	CCONJ
ajfa-2165	88	38	futures	future	NOUN
ajfa-2165	88	39	.	.	PUNCT
ajfa-2165	89	1	however	however	ADV
ajfa-2165	89	2	,	,	PUNCT
ajfa-2165	89	3	after	after	ADP
ajfa-2165	89	4	1983	1983	NUM
ajfa-2165	89	5	,	,	PUNCT
ajfa-2165	89	6	he	he	PRON
ajfa-2165	89	7	reported	report	VERB
ajfa-2165	89	8	statistically	statistically	ADV
ajfa-2165	89	9	significant	significant	ADJ
ajfa-2165	89	10	increase	increase	NOUN
ajfa-2165	89	11	in	in	ADP
ajfa-2165	89	12	the	the	DET
ajfa-2165	89	13	volatilities	volatility	NOUN
ajfa-2165	89	14	of	of	ADP
ajfa-2165	89	15	firms	firm	NOUN
ajfa-2165	89	16	in	in	ADP
ajfa-2165	89	17	the	the	DET
ajfa-2165	89	18	s&p	s&p	PROPN
ajfa-2165	89	19	500	500	NUM
ajfa-2165	89	20	index	index	NOUN
ajfa-2165	89	21	.	.	PUNCT
ajfa-2165	90	1	he	he	PRON
ajfa-2165	90	2	suggests	suggest	VERB
ajfa-2165	90	3	that	that	SCONJ
ajfa-2165	90	4	the	the	DET
ajfa-2165	90	5	change	change	NOUN
ajfa-2165	90	6	in	in	ADP
ajfa-2165	90	7	volatility	volatility	NOUN
ajfa-2165	90	8	is	be	AUX
ajfa-2165	90	9	not	not	PART
ajfa-2165	90	10	significant	significant	ADJ
ajfa-2165	90	11	"	"	PUNCT
ajfa-2165	90	12	economically	economically	ADV
ajfa-2165	90	13	"	"	PUNCT
ajfa-2165	90	14	and	and	CCONJ
ajfa-2165	90	15	that	that	SCONJ
ajfa-2165	90	16	other	other	ADJ
ajfa-2165	90	17	factors	factor	NOUN
ajfa-2165	90	18	could	could	AUX
ajfa-2165	90	19	be	be	AUX
ajfa-2165	90	20	responsible	responsible	ADJ
ajfa-2165	90	21	for	for	ADP
ajfa-2165	90	22	the	the	DET
ajfa-2165	90	23	increase	increase	NOUN
ajfa-2165	90	24	.	.	PUNCT
ajfa-2165	91	1	becketti	becketti	NOUN
ajfa-2165	91	2	and	and	CCONJ
ajfa-2165	91	3	roberts	roberts	PROPN
ajfa-2165	91	4	(	(	PUNCT
ajfa-2165	91	5	1990	1990	NUM
ajfa-2165	91	6	)	)	PUNCT
ajfa-2165	91	7	opine	opine	VERB
ajfa-2165	91	8	that	that	SCONJ
ajfa-2165	91	9	futures	future	NOUN
ajfa-2165	91	10	contract	contract	NOUN
ajfa-2165	91	11	is	be	AUX
ajfa-2165	91	12	an	an	DET
ajfa-2165	91	13	agreement	agreement	NOUN
ajfa-2165	91	14	to	to	PART
ajfa-2165	91	15	exchange	exchange	VERB
ajfa-2165	91	16	in	in	ADP
ajfa-2165	91	17	future	future	NOUN
ajfa-2165	91	18	.	.	PUNCT
ajfa-2165	92	1	it	it	PRON
ajfa-2165	92	2	does	do	AUX
ajfa-2165	92	3	not	not	PART
ajfa-2165	92	4	necessarily	necessarily	ADV
ajfa-2165	92	5	involve	involve	VERB
ajfa-2165	92	6	an	an	DET
ajfa-2165	92	7	exchange	exchange	NOUN
ajfa-2165	92	8	of	of	ADP
ajfa-2165	92	9	assets	asset	NOUN
ajfa-2165	92	10	in	in	ADP
ajfa-2165	92	11	the	the	DET
ajfa-2165	92	12	future	future	NOUN
ajfa-2165	92	13	;	;	PUNCT
ajfa-2165	92	14	the	the	DET
ajfa-2165	92	15	buyers	buyer	NOUN
ajfa-2165	92	16	and	and	CCONJ
ajfa-2165	92	17	sellers	seller	NOUN
ajfa-2165	92	18	of	of	ADP
ajfa-2165	92	19	the	the	DET
ajfa-2165	92	20	index	index	NOUN
ajfa-2165	92	21	settle	settle	VERB
ajfa-2165	92	22	their	their	PRON
ajfa-2165	92	23	positions	position	NOUN
ajfa-2165	92	24	by	by	ADP
ajfa-2165	92	25	taking	take	VERB
ajfa-2165	92	26	offsetting	offset	VERB
ajfa-2165	92	27	positions	position	NOUN
ajfa-2165	92	28	.	.	PUNCT
ajfa-2165	93	1	close	close	ADJ
ajfa-2165	93	2	to	to	ADP
ajfa-2165	93	3	cessation	cessation	NOUN
ajfa-2165	93	4	,	,	PUNCT
ajfa-2165	93	5	futures	future	NOUN
ajfa-2165	93	6	traders	trader	NOUN
ajfa-2165	93	7	may	may	AUX
ajfa-2165	93	8	close	close	VERB
ajfa-2165	93	9	their	their	PRON
ajfa-2165	93	10	positions	position	NOUN
ajfa-2165	93	11	by	by	ADP
ajfa-2165	93	12	taking	take	VERB
ajfa-2165	93	13	a	a	DET
ajfa-2165	93	14	position	position	NOUN
ajfa-2165	93	15	opposite	opposite	ADJ
ajfa-2165	93	16	to	to	ADP
ajfa-2165	93	17	the	the	DET
ajfa-2165	93	18	initial	initial	ADJ
ajfa-2165	93	19	one	one	NOUN
ajfa-2165	93	20	,	,	PUNCT
ajfa-2165	93	21	by	by	ADP
ajfa-2165	93	22	physical	physical	ADJ
ajfa-2165	93	23	delivery	delivery	NOUN
ajfa-2165	93	24	,	,	PUNCT
ajfa-2165	93	25	or	or	CCONJ
ajfa-2165	93	26	by	by	ADP
ajfa-2165	93	27	paying	pay	VERB
ajfa-2165	93	28	the	the	DET
ajfa-2165	93	29	difference	difference	NOUN
ajfa-2165	93	30	between	between	ADP
ajfa-2165	93	31	the	the	DET
ajfa-2165	93	32	futures	future	NOUN
ajfa-2165	93	33	price	price	NOUN
ajfa-2165	93	34	and	and	CCONJ
ajfa-2165	93	35	the	the	DET
ajfa-2165	93	36	spot	spot	NOUN
ajfa-2165	93	37	price	price	NOUN
ajfa-2165	93	38	of	of	ADP
ajfa-2165	93	39	the	the	DET
ajfa-2165	93	40	underlying	underlie	VERB
ajfa-2165	93	41	asset	asset	NOUN
ajfa-2165	93	42	.	.	PUNCT
ajfa-2165	94	1	hodgson	hodgson	PROPN
ajfa-2165	94	2	et	et	PROPN
ajfa-2165	94	3	al	al	PROPN
ajfa-2165	94	4	.	.	PROPN
ajfa-2165	94	5	,	,	PUNCT
ajfa-2165	94	6	(	(	PUNCT
ajfa-2165	94	7	1991	1991	NUM
ajfa-2165	94	8	)	)	PUNCT
ajfa-2165	94	9	study	study	VERB
ajfa-2165	94	10	the	the	DET
ajfa-2165	94	11	impact	impact	NOUN
ajfa-2165	94	12	of	of	ADP
ajfa-2165	94	13	all	all	DET
ajfa-2165	94	14	ordinaries	ordinary	NOUN
ajfa-2165	94	15	share	share	NOUN
ajfa-2165	94	16	index	index	NOUN
ajfa-2165	94	17	(	(	PUNCT
ajfa-2165	94	18	aoi	aoi	NOUN
ajfa-2165	94	19	)	)	PUNCT
ajfa-2165	94	20	futures	future	NOUN
ajfa-2165	94	21	on	on	ADP
ajfa-2165	94	22	the	the	DET
ajfa-2165	94	23	associated	associated	ADJ
ajfa-2165	94	24	australian	australian	ADJ
ajfa-2165	94	25	stock	stock	NOUN
ajfa-2165	94	26	exchanges	exchange	NOUN
ajfa-2165	94	27	over	over	ADP
ajfa-2165	94	28	the	the	DET
ajfa-2165	94	29	all	all	DET
ajfa-2165	94	30	ordinaries	ordinary	NOUN
ajfa-2165	94	31	share	share	NOUN
ajfa-2165	94	32	index	index	NOUN
ajfa-2165	94	33	.	.	PUNCT
ajfa-2165	95	1	they	they	PRON
ajfa-2165	95	2	analyse	analyse	VERB
ajfa-2165	95	3	data	datum	NOUN
ajfa-2165	95	4	for	for	ADP
ajfa-2165	95	5	a	a	DET
ajfa-2165	95	6	period	period	NOUN
ajfa-2165	95	7	of	of	ADP
ajfa-2165	95	8	six	six	NUM
ajfa-2165	95	9	years	year	NOUN
ajfa-2165	95	10	from	from	ADP
ajfa-2165	95	11	1981	1981	NUM
ajfa-2165	95	12	to	to	ADP
ajfa-2165	95	13	1987	1987	NUM
ajfa-2165	95	14	.	.	PUNCT
ajfa-2165	96	1	standard	standard	ADJ
ajfa-2165	96	2	deviation	deviation	NOUN
ajfa-2165	96	3	of	of	ADP
ajfa-2165	96	4	daily	daily	ADJ
ajfa-2165	96	5	and	and	CCONJ
ajfa-2165	96	6	weekly	weekly	ADJ
ajfa-2165	96	7	returns	return	NOUN
ajfa-2165	96	8	is	be	AUX
ajfa-2165	96	9	estimated	estimate	VERB
ajfa-2165	96	10	to	to	PART
ajfa-2165	96	11	measure	measure	VERB
ajfa-2165	96	12	the	the	DET
ajfa-2165	96	13	change	change	NOUN
ajfa-2165	96	14	in	in	ADP
ajfa-2165	96	15	volatilities	volatility	NOUN
ajfa-2165	96	16	of	of	ADP
ajfa-2165	96	17	the	the	DET
ajfa-2165	96	18	underlying	underlying	ADJ
ajfa-2165	96	19	index	index	NOUN
ajfa-2165	96	20	.	.	PUNCT
ajfa-2165	97	1	the	the	DET
ajfa-2165	97	2	results	result	NOUN
ajfa-2165	97	3	indicate	indicate	VERB
ajfa-2165	97	4	that	that	SCONJ
ajfa-2165	97	5	the	the	DET
ajfa-2165	97	6	introduction	introduction	NOUN
ajfa-2165	97	7	of	of	ADP
ajfa-2165	97	8	futures	future	NOUN
ajfa-2165	97	9	and	and	CCONJ
ajfa-2165	97	10	options	option	NOUN
ajfa-2165	97	11	trading	trading	NOUN
ajfa-2165	97	12	has	have	AUX
ajfa-2165	97	13	not	not	PART
ajfa-2165	97	14	affected	affect	VERB
ajfa-2165	97	15	the	the	DET
ajfa-2165	97	16	long	long	ADJ
ajfa-2165	97	17	-	-	PUNCT
ajfa-2165	97	18	term	term	NOUN
ajfa-2165	97	19	volatility	volatility	NOUN
ajfa-2165	97	20	,	,	PUNCT
ajfa-2165	97	21	which	which	PRON
ajfa-2165	97	22	reinforces	reinforce	VERB
ajfa-2165	97	23	the	the	DET
ajfa-2165	97	24	findings	finding	NOUN
ajfa-2165	97	25	of	of	ADP
ajfa-2165	97	26	the	the	DET
ajfa-2165	97	27	previous	previous	ADJ
ajfa-2165	97	28	u.s	u.s	PROPN
ajfa-2165	97	29	.	.	PROPN
ajfa-2165	97	30	studies	study	NOUN
ajfa-2165	97	31	.	.	PUNCT
ajfa-2165	98	1	froot	froot	NOUN
ajfa-2165	98	2	and	and	CCONJ
ajfa-2165	98	3	perold	perold	NOUN
ajfa-2165	98	4	(	(	PUNCT
ajfa-2165	98	5	1991	1991	NUM
ajfa-2165	98	6	)	)	PUNCT
ajfa-2165	98	7	develop	develop	VERB
ajfa-2165	98	8	a	a	DET
ajfa-2165	98	9	model	model	NOUN
ajfa-2165	98	10	to	to	PART
ajfa-2165	98	11	demonstrate	demonstrate	VERB
ajfa-2165	98	12	that	that	SCONJ
ajfa-2165	98	13	futures	future	NOUN
ajfa-2165	98	14	markets	market	NOUN
ajfa-2165	98	15	cause	cause	VERB
ajfa-2165	98	16	an	an	DET
ajfa-2165	98	17	increase	increase	NOUN
ajfa-2165	98	18	in	in	ADP
ajfa-2165	98	19	the	the	DET
ajfa-2165	98	20	market	market	NOUN
ajfa-2165	98	21	depth	depth	NOUN
ajfa-2165	98	22	due	due	ADP
ajfa-2165	98	23	to	to	ADP
ajfa-2165	98	24	the	the	DET
ajfa-2165	98	25	presence	presence	NOUN
ajfa-2165	98	26	of	of	ADP
ajfa-2165	98	27	more	more	ADJ
ajfa-2165	98	28	market	market	NOUN
ajfa-2165	98	29	makers	maker	NOUN
ajfa-2165	98	30	in	in	ADP
ajfa-2165	98	31	the	the	DET
ajfa-2165	98	32	futures	future	NOUN
ajfa-2165	98	33	segment	segment	NOUN
ajfa-2165	98	34	than	than	ADP
ajfa-2165	98	35	in	in	ADP
ajfa-2165	98	36	the	the	DET
ajfa-2165	98	37	cash	cash	NOUN
ajfa-2165	98	38	market	market	NOUN
ajfa-2165	98	39	and	and	CCONJ
ajfa-2165	98	40	the	the	DET
ajfa-2165	98	41	more	more	ADV
ajfa-2165	98	42	rapid	rapid	ADJ
ajfa-2165	98	43	dissemination	dissemination	NOUN
ajfa-2165	98	44	of	of	ADP
ajfa-2165	98	45	information	information	NOUN
ajfa-2165	98	46	.	.	PUNCT
ajfa-2165	99	1	abhyankar	abhyankar	NOUN
ajfa-2165	99	2	(	(	PUNCT
ajfa-2165	99	3	1995	1995	NUM
ajfa-2165	99	4	)	)	PUNCT
ajfa-2165	99	5	concludes	conclude	VERB
ajfa-2165	99	6	that	that	SCONJ
ajfa-2165	99	7	lower	low	ADJ
ajfa-2165	99	8	transaction	transaction	NOUN
ajfa-2165	99	9	cost	cost	NOUN
ajfa-2165	99	10	is	be	AUX
ajfa-2165	99	11	the	the	DET
ajfa-2165	99	12	main	main	ADJ
ajfa-2165	99	13	reason	reason	NOUN
ajfa-2165	99	14	for	for	ADP
ajfa-2165	99	15	traders	trader	NOUN
ajfa-2165	99	16	who	who	PRON
ajfa-2165	99	17	have	have	VERB
ajfa-2165	99	18	market	market	NOUN
ajfa-2165	99	19	wide	wide	ADJ
ajfa-2165	99	20	information	information	NOUN
ajfa-2165	99	21	to	to	PART
ajfa-2165	99	22	use	use	VERB
ajfa-2165	99	23	the	the	DET
ajfa-2165	99	24	futures	future	NOUN
ajfa-2165	99	25	market	market	NOUN
ajfa-2165	99	26	.	.	PUNCT
ajfa-2165	100	1	pericli	pericli	PROPN
ajfa-2165	100	2	and	and	CCONJ
ajfa-2165	100	3	koutmos	koutmos	PROPN
ajfa-2165	100	4	(	(	PUNCT
ajfa-2165	100	5	1997	1997	NUM
ajfa-2165	100	6	)	)	PUNCT
ajfa-2165	100	7	analyse	analyse	VERB
ajfa-2165	100	8	the	the	DET
ajfa-2165	100	9	impact	impact	NOUN
ajfa-2165	100	10	of	of	ADP
ajfa-2165	100	11	the	the	DET
ajfa-2165	100	12	us	us	PROPN
ajfa-2165	100	13	s&p	s&p	PROPN
ajfa-2165	100	14	500	500	NUM
ajfa-2165	100	15	index	index	NOUN
ajfa-2165	100	16	futures	future	NOUN
ajfa-2165	100	17	on	on	ADP
ajfa-2165	100	18	spot	spot	NOUN
ajfa-2165	100	19	market	market	NOUN
ajfa-2165	100	20	volatility	volatility	NOUN
ajfa-2165	100	21	.	.	PUNCT
ajfa-2165	101	1	their	their	PRON
ajfa-2165	101	2	results	result	NOUN
ajfa-2165	101	3	show	show	VERB
ajfa-2165	101	4	that	that	SCONJ
ajfa-2165	101	5	index	index	NOUN
ajfa-2165	101	6	futures	future	NOUN
ajfa-2165	101	7	do	do	AUX
ajfa-2165	101	8	not	not	PART
ajfa-2165	101	9	increase	increase	VERB
ajfa-2165	101	10	spot	spot	NOUN
ajfa-2165	101	11	market	market	NOUN
ajfa-2165	101	12	volatility	volatility	NOUN
ajfa-2165	101	13	.	.	PUNCT
ajfa-2165	102	1	dennis	dennis	PROPN
ajfa-2165	102	2	and	and	CCONJ
ajfa-2165	102	3	sim	sim	ADJ
ajfa-2165	102	4	(	(	PUNCT
ajfa-2165	102	5	1999	1999	NUM
ajfa-2165	102	6	)	)	PUNCT
ajfa-2165	102	7	examine	examine	VERB
ajfa-2165	102	8	share	share	NOUN
ajfa-2165	102	9	price	price	NOUN
ajfa-2165	102	10	volatility	volatility	NOUN
ajfa-2165	102	11	with	with	ADP
ajfa-2165	102	12	the	the	DET
ajfa-2165	102	13	introduction	introduction	NOUN
ajfa-2165	102	14	of	of	ADP
ajfa-2165	102	15	individual	individual	ADJ
ajfa-2165	102	16	share	share	NOUN
ajfa-2165	102	17	futures	future	NOUN
ajfa-2165	102	18	on	on	ADP
ajfa-2165	102	19	the	the	DET
ajfa-2165	102	20	sydney	sydney	PROPN
ajfa-2165	102	21	futures	futures	PROPN
ajfa-2165	102	22	exchange	exchange	NOUN
ajfa-2165	102	23	by	by	ADP
ajfa-2165	102	24	employing	employ	VERB
ajfa-2165	102	25	garch	garch	NOUN
ajfa-2165	102	26	model	model	NOUN
ajfa-2165	102	27	.	.	PUNCT
ajfa-2165	103	1	they	they	PRON
ajfa-2165	103	2	conclude	conclude	VERB
ajfa-2165	103	3	that	that	SCONJ
ajfa-2165	103	4	the	the	DET
ajfa-2165	103	5	impact	impact	NOUN
ajfa-2165	103	6	of	of	ADP
ajfa-2165	103	7	futures	future	NOUN
ajfa-2165	103	8	trading	trading	NOUN
ajfa-2165	103	9	on	on	ADP
ajfa-2165	103	10	cash	cash	NOUN
ajfa-2165	103	11	market	market	NOUN
ajfa-2165	103	12	volatility	volatility	NOUN
ajfa-2165	103	13	is	be	AUX
ajfa-2165	103	14	not	not	PART
ajfa-2165	103	15	significant	significant	ADJ
ajfa-2165	103	16	as	as	SCONJ
ajfa-2165	103	17	compared	compare	VERB
ajfa-2165	103	18	to	to	ADP
ajfa-2165	103	19	the	the	DET
ajfa-2165	103	20	impact	impact	NOUN
ajfa-2165	103	21	of	of	ADP
ajfa-2165	103	22	cash	cash	NOUN
ajfa-2165	103	23	market	market	NOUN
ajfa-2165	103	24	trading	trading	NOUN
ajfa-2165	103	25	.	.	PUNCT
ajfa-2165	104	1	gulen	gulen	VERB
ajfa-2165	104	2	and	and	CCONJ
ajfa-2165	104	3	mayhew	mayhew	PROPN
ajfa-2165	104	4	(	(	PUNCT
ajfa-2165	104	5	2000	2000	NUM
ajfa-2165	104	6	)	)	PUNCT
ajfa-2165	104	7	examine	examine	VERB
ajfa-2165	104	8	stock	stock	NOUN
ajfa-2165	104	9	market	market	NOUN
ajfa-2165	104	10	volatility	volatility	NOUN
ajfa-2165	104	11	before	before	ADP
ajfa-2165	104	12	and	and	CCONJ
ajfa-2165	104	13	after	after	ADP
ajfa-2165	104	14	the	the	DET
ajfa-2165	104	15	introduction	introduction	NOUN
ajfa-2165	104	16	of	of	ADP
ajfa-2165	104	17	index	index	NOUN
ajfa-2165	104	18	futures	future	NOUN
ajfa-2165	104	19	in	in	ADP
ajfa-2165	104	20	25	25	NUM
ajfa-2165	104	21	countries	country	NOUN
ajfa-2165	104	22	.	.	PUNCT
ajfa-2165	105	1	they	they	PRON
ajfa-2165	105	2	find	find	VERB
ajfa-2165	105	3	that	that	SCONJ
ajfa-2165	105	4	index	index	NOUN
ajfa-2165	105	5	futures	future	NOUN
ajfa-2165	105	6	had	have	VERB
ajfa-2165	105	7	no	no	DET
ajfa-2165	105	8	significant	significant	ADJ
ajfa-2165	105	9	effect	effect	NOUN
ajfa-2165	105	10	on	on	ADP
ajfa-2165	105	11	the	the	DET
ajfa-2165	105	12	spot	spot	NOUN
ajfa-2165	105	13	markets	market	NOUN
ajfa-2165	105	14	in	in	ADP
ajfa-2165	105	15	all	all	DET
ajfa-2165	105	16	the	the	DET
ajfa-2165	105	17	countries	country	NOUN
ajfa-2165	105	18	excluding	exclude	VERB
ajfa-2165	105	19	us	we	PRON
ajfa-2165	105	20	and	and	CCONJ
ajfa-2165	105	21	japan	japan	PROPN
ajfa-2165	105	22	.	.	PUNCT
ajfa-2165	106	1	they	they	PRON
ajfa-2165	106	2	also	also	ADV
ajfa-2165	106	3	find	find	VERB
ajfa-2165	106	4	that	that	SCONJ
ajfa-2165	106	5	spot	spot	NOUN
ajfa-2165	106	6	volatility	volatility	NOUN
ajfa-2165	106	7	was	be	AUX
ajfa-2165	106	8	independent	independent	ADJ
ajfa-2165	106	9	of	of	ADP
ajfa-2165	106	10	changes	change	NOUN
ajfa-2165	106	11	in	in	ADP
ajfa-2165	106	12	futures	future	NOUN
ajfa-2165	106	13	trading	trading	NOUN
ajfa-2165	106	14	in	in	ADP
ajfa-2165	106	15	18	18	NUM
ajfa-2165	106	16	countries	country	NOUN
ajfa-2165	106	17	,	,	PUNCT
ajfa-2165	106	18	and	and	CCONJ
ajfa-2165	106	19	that	that	DET
ajfa-2165	106	20	spot	spot	NOUN
ajfa-2165	106	21	volatility	volatility	NOUN
ajfa-2165	106	22	is	be	AUX
ajfa-2165	106	23	negatively	negatively	ADV
ajfa-2165	106	24	influenced	influence	VERB
ajfa-2165	106	25	by	by	ADP
ajfa-2165	106	26	uninformed	uninformed	ADJ
ajfa-2165	106	27	futures	future	NOUN
ajfa-2165	106	28	volume	volume	NOUN
ajfa-2165	106	29	in	in	ADP
ajfa-2165	106	30	austria	austria	PROPN
ajfa-2165	106	31	and	and	CCONJ
ajfa-2165	106	32	the	the	DET
ajfa-2165	106	33	uk	uk	PROPN
ajfa-2165	106	34	.	.	PUNCT
ajfa-2165	106	35	bologna	bologna	PROPN
ajfa-2165	106	36	and	and	CCONJ
ajfa-2165	106	37	cavallo	cavallo	NOUN
ajfa-2165	106	38	(	(	PUNCT
ajfa-2165	106	39	2002	2002	NUM
ajfa-2165	106	40	)	)	PUNCT
ajfa-2165	106	41	examine	examine	VERB
ajfa-2165	106	42	the	the	DET
ajfa-2165	106	43	effect	effect	NOUN
ajfa-2165	106	44	of	of	ADP
ajfa-2165	106	45	the	the	DET
ajfa-2165	106	46	introduction	introduction	NOUN
ajfa-2165	106	47	of	of	ADP
ajfa-2165	106	48	stock	stock	NOUN
ajfa-2165	106	49	index	index	NOUN
ajfa-2165	106	50	futures	future	NOUN
ajfa-2165	106	51	on	on	ADP
ajfa-2165	106	52	the	the	DET
ajfa-2165	106	53	volatility	volatility	NOUN
ajfa-2165	106	54	of	of	ADP
ajfa-2165	106	55	the	the	DET
ajfa-2165	106	56	italian	italian	ADJ
ajfa-2165	106	57	spot	spot	NOUN
ajfa-2165	106	58	market	market	NOUN
ajfa-2165	106	59	,	,	PUNCT
ajfa-2165	106	60	and	and	CCONJ
ajfa-2165	106	61	find	find	VERB
ajfa-2165	106	62	a	a	DET
ajfa-2165	106	63	reduction	reduction	NOUN
ajfa-2165	106	64	in	in	ADP
ajfa-2165	106	65	spot	spot	NOUN
ajfa-2165	106	66	market	market	NOUN
ajfa-2165	106	67	volatility	volatility	NOUN
ajfa-2165	106	68	and	and	CCONJ
ajfa-2165	106	69	enhanced	enhance	VERB
ajfa-2165	106	70	market	market	NOUN
ajfa-2165	106	71	efficiency	efficiency	NOUN
ajfa-2165	106	72	.	.	PUNCT
ajfa-2165	107	1	they	they	PRON
ajfa-2165	107	2	conclude	conclude	VERB
ajfa-2165	107	3	that	that	SCONJ
ajfa-2165	107	4	increased	increase	VERB
ajfa-2165	107	5	impact	impact	NOUN
ajfa-2165	107	6	of	of	ADP
ajfa-2165	107	7	recent	recent	ADJ
ajfa-2165	107	8	news	news	NOUN
ajfa-2165	107	9	and	and	CCONJ
ajfa-2165	107	10	a	a	DET
ajfa-2165	107	11	reduced	reduced	ADJ
ajfa-2165	107	12	effect	effect	NOUN
ajfa-2165	107	13	of	of	ADP
ajfa-2165	107	14	the	the	DET
ajfa-2165	107	15	uncertainty	uncertainty	NOUN
ajfa-2165	107	16	originating	originate	VERB
ajfa-2165	107	17	from	from	ADP
ajfa-2165	107	18	the	the	DET
ajfa-2165	107	19	old	old	ADJ
ajfa-2165	107	20	news	news	NOUN
ajfa-2165	107	21	were	be	AUX
ajfa-2165	107	22	the	the	DET
ajfa-2165	107	23	main	main	ADJ
ajfa-2165	107	24	reasons	reason	NOUN
ajfa-2165	107	25	for	for	ADP
ajfa-2165	107	26	this	this	DET
ajfa-2165	107	27	phenomenon	phenomenon	NOUN
ajfa-2165	107	28	.	.	PUNCT
ajfa-2165	108	1	chiang	chiang	PROPN
ajfa-2165	108	2	and	and	CCONJ
ajfa-2165	108	3	wang	wang	PROPN
ajfa-2165	108	4	(	(	PUNCT
ajfa-2165	108	5	2002	2002	NUM
ajfa-2165	108	6	)	)	PUNCT
ajfa-2165	108	7	investigate	investigate	VERB
ajfa-2165	108	8	the	the	DET
ajfa-2165	108	9	impact	impact	NOUN
ajfa-2165	108	10	of	of	ADP
ajfa-2165	108	11	taiwan	taiwan	PROPN
ajfa-2165	108	12	index	index	NOUN
ajfa-2165	108	13	futures	future	NOUN
ajfa-2165	108	14	trading	trading	NOUN
ajfa-2165	108	15	on	on	ADP
ajfa-2165	108	16	spot	spot	NOUN
ajfa-2165	108	17	price	price	NOUN
ajfa-2165	108	18	volatility	volatility	NOUN
ajfa-2165	108	19	using	use	VERB
ajfa-2165	108	20	gjr	gjr	NOUN
ajfa-2165	108	21	garch	garch	NOUN
ajfa-2165	108	22	model	model	NOUN
ajfa-2165	108	23	and	and	CCONJ
ajfa-2165	108	24	conclude	conclude	VERB
ajfa-2165	108	25	that	that	SCONJ
ajfa-2165	108	26	the	the	DET
ajfa-2165	108	27	trading	trading	NOUN
ajfa-2165	108	28	of	of	ADP
ajfa-2165	108	29	taiex	taiex	NOUN
ajfa-2165	108	30	futures	future	NOUN
ajfa-2165	108	31	had	have	VERB
ajfa-2165	108	32	a	a	DET
ajfa-2165	108	33	major	major	ADJ
ajfa-2165	108	34	impact	impact	NOUN
ajfa-2165	108	35	on	on	ADP
ajfa-2165	108	36	spot	spot	NOUN
ajfa-2165	108	37	price	price	NOUN
ajfa-2165	108	38	volatility	volatility	NOUN
ajfa-2165	108	39	,	,	PUNCT
ajfa-2165	108	40	while	while	SCONJ
ajfa-2165	108	41	the	the	DET
ajfa-2165	108	42	trading	trading	NOUN
ajfa-2165	108	43	of	of	ADP
ajfa-2165	108	44	msci	msci	PROPN
ajfa-2165	108	45	taiwan	taiwan	PROPN
ajfa-2165	108	46	did	do	VERB
ajfa-2165	108	47	not	not	PART
ajfa-2165	108	48	.	.	PUNCT
ajfa-2165	109	1	they	they	PRON
ajfa-2165	109	2	conclude	conclude	VERB
ajfa-2165	109	3	that	that	SCONJ
ajfa-2165	109	4	the	the	DET
ajfa-2165	109	5	increase	increase	NOUN
ajfa-2165	109	6	in	in	ADP
ajfa-2165	109	7	asymmetric	asymmetric	ADJ
ajfa-2165	109	8	response	response	NOUN
ajfa-2165	109	9	behaviour	behaviour	NOUN
ajfa-2165	109	10	following	follow	VERB
ajfa-2165	109	11	the	the	DET
ajfa-2165	109	12	beginning	beginning	NOUN
ajfa-2165	109	13	of	of	ADP
ajfa-2165	109	14	the	the	DET
ajfa-2165	109	15	trading	trading	NOUN
ajfa-2165	109	16	of	of	ADP
ajfa-2165	109	17	two	two	NUM
ajfa-2165	109	18	index	index	NOUN
ajfa-2165	109	19	futures	future	NOUN
ajfa-2165	109	20	reflects	reflect	VERB
ajfa-2165	109	21	the	the	DET
ajfa-2165	109	22	fact	fact	NOUN
ajfa-2165	109	23	that	that	SCONJ
ajfa-2165	109	24	a	a	DET
ajfa-2165	109	25	major	major	ADJ
ajfa-2165	109	26	proportion	proportion	NOUN
ajfa-2165	109	27	of	of	ADP
ajfa-2165	109	28	the	the	DET
ajfa-2165	109	29	investors	investor	NOUN
ajfa-2165	109	30	in	in	ADP
ajfa-2165	109	31	tse	tse	PROPN
ajfa-2165	109	32	asian	asian	PROPN
ajfa-2165	109	33	journal	journal	PROPN
ajfa-2165	109	34	of	of	ADP
ajfa-2165	109	35	finance	finance	PROPN
ajfa-2165	109	36	&	&	CCONJ
ajfa-2165	109	37	accounting	accounting	PROPN
ajfa-2165	109	38	issn	issn	PROPN
ajfa-2165	109	39	1946	1946	NUM
ajfa-2165	109	40	-	-	PUNCT
ajfa-2165	109	41	052x	052x	NOUN
ajfa-2165	109	42	2013	2013	NUM
ajfa-2165	109	43	,	,	PUNCT
ajfa-2165	109	44	vol	vol	NOUN
ajfa-2165	109	45	.	.	PROPN
ajfa-2165	109	46	5	5	NUM
ajfa-2165	109	47	,	,	PUNCT
ajfa-2165	109	48	no	no	INTJ
ajfa-2165	109	49	.	.	NOUN
ajfa-2165	109	50	1	1	NUM
ajfa-2165	109	51	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-2165	109	52	294	294	NUM
ajfa-2165	109	53	are	be	AUX
ajfa-2165	109	54	non	non	ADJ
ajfa-2165	109	55	-	-	ADJ
ajfa-2165	109	56	institutional	institutional	ADJ
ajfa-2165	109	57	investors	investor	NOUN
ajfa-2165	109	58	who	who	PRON
ajfa-2165	109	59	are	be	AUX
ajfa-2165	109	60	generally	generally	ADV
ajfa-2165	109	61	un	un	ADJ
ajfa-2165	109	62	-	-	ADJ
ajfa-2165	109	63	informed	informed	ADJ
ajfa-2165	109	64	and	and	CCONJ
ajfa-2165	109	65	are	be	AUX
ajfa-2165	109	66	prone	prone	ADJ
ajfa-2165	109	67	to	to	ADP
ajfa-2165	109	68	over	over	ADP
ajfa-2165	109	69	react	react	VERB
ajfa-2165	109	70	to	to	ADP
ajfa-2165	109	71	the	the	DET
ajfa-2165	109	72	bad	bad	ADJ
ajfa-2165	109	73	news	news	NOUN
ajfa-2165	109	74	.	.	PUNCT
ajfa-2165	110	1	the	the	DET
ajfa-2165	110	2	introduction	introduction	NOUN
ajfa-2165	110	3	of	of	ADP
ajfa-2165	110	4	the	the	DET
ajfa-2165	110	5	taiex	taiex	NOUN
ajfa-2165	110	6	futures	future	NOUN
ajfa-2165	110	7	trading	trading	NOUN
ajfa-2165	110	8	improves	improve	VERB
ajfa-2165	110	9	the	the	DET
ajfa-2165	110	10	efficiency	efficiency	NOUN
ajfa-2165	110	11	of	of	ADP
ajfa-2165	110	12	information	information	NOUN
ajfa-2165	110	13	transmission	transmission	NOUN
ajfa-2165	110	14	from	from	ADP
ajfa-2165	110	15	futures	future	NOUN
ajfa-2165	110	16	to	to	ADP
ajfa-2165	110	17	spot	spot	NOUN
ajfa-2165	110	18	markets	market	NOUN
ajfa-2165	110	19	.	.	PUNCT
ajfa-2165	111	1	raju	raju	PROPN
ajfa-2165	111	2	and	and	CCONJ
ajfa-2165	111	3	karande	karande	PROPN
ajfa-2165	111	4	(	(	PUNCT
ajfa-2165	111	5	2003	2003	NUM
ajfa-2165	111	6	)	)	PUNCT
ajfa-2165	111	7	find	find	VERB
ajfa-2165	111	8	a	a	DET
ajfa-2165	111	9	reduction	reduction	NOUN
ajfa-2165	111	10	in	in	ADP
ajfa-2165	111	11	spot	spot	NOUN
ajfa-2165	111	12	market	market	NOUN
ajfa-2165	111	13	volatility	volatility	NOUN
ajfa-2165	111	14	after	after	ADP
ajfa-2165	111	15	the	the	DET
ajfa-2165	111	16	introduction	introduction	NOUN
ajfa-2165	111	17	of	of	ADP
ajfa-2165	111	18	index	index	NOUN
ajfa-2165	111	19	futures	future	NOUN
ajfa-2165	111	20	.	.	PUNCT
ajfa-2165	112	1	golaka	golaka	PROPN
ajfa-2165	112	2	c	c	PROPN
ajfa-2165	112	3	nath	nath	PROPN
ajfa-2165	112	4	(	(	PUNCT
ajfa-2165	112	5	2003	2003	NUM
ajfa-2165	112	6	)	)	PUNCT
ajfa-2165	112	7	investigates	investigate	VERB
ajfa-2165	112	8	behaviour	behaviour	NOUN
ajfa-2165	112	9	of	of	ADP
ajfa-2165	112	10	stock	stock	NOUN
ajfa-2165	112	11	market	market	NOUN
ajfa-2165	112	12	volatility	volatility	NOUN
ajfa-2165	112	13	after	after	ADP
ajfa-2165	112	14	introduction	introduction	NOUN
ajfa-2165	112	15	of	of	ADP
ajfa-2165	112	16	derivatives	derivative	NOUN
ajfa-2165	112	17	by	by	ADP
ajfa-2165	112	18	employing	employ	VERB
ajfa-2165	112	19	garch	garch	NOUN
ajfa-2165	112	20	model	model	NOUN
ajfa-2165	112	21	.	.	PUNCT
ajfa-2165	113	1	using	use	VERB
ajfa-2165	113	2	a	a	DET
ajfa-2165	113	3	sample	sample	NOUN
ajfa-2165	113	4	of	of	ADP
ajfa-2165	113	5	20	20	NUM
ajfa-2165	113	6	stocks	stock	NOUN
ajfa-2165	113	7	taken	take	VERB
ajfa-2165	113	8	randomly	randomly	ADV
ajfa-2165	113	9	from	from	ADP
ajfa-2165	113	10	the	the	DET
ajfa-2165	113	11	nifty	nifty	NOUN
ajfa-2165	113	12	,	,	PUNCT
ajfa-2165	113	13	he	he	PRON
ajfa-2165	113	14	observes	observe	VERB
ajfa-2165	113	15	that	that	SCONJ
ajfa-2165	113	16	for	for	ADP
ajfa-2165	113	17	most	most	ADJ
ajfa-2165	113	18	of	of	ADP
ajfa-2165	113	19	the	the	DET
ajfa-2165	113	20	stocks	stock	NOUN
ajfa-2165	113	21	,	,	PUNCT
ajfa-2165	113	22	the	the	DET
ajfa-2165	113	23	volatility	volatility	NOUN
ajfa-2165	113	24	comes	come	VERB
ajfa-2165	113	25	down	down	ADP
ajfa-2165	113	26	in	in	ADP
ajfa-2165	113	27	the	the	DET
ajfa-2165	113	28	post	post	NOUN
ajfa-2165	113	29	derivative	derivative	ADJ
ajfa-2165	113	30	period	period	NOUN
ajfa-2165	113	31	while	while	SCONJ
ajfa-2165	113	32	for	for	ADP
ajfa-2165	113	33	only	only	ADV
ajfa-2165	113	34	few	few	ADJ
ajfa-2165	113	35	stocks	stock	NOUN
ajfa-2165	113	36	in	in	ADP
ajfa-2165	113	37	the	the	DET
ajfa-2165	113	38	sample	sample	NOUN
ajfa-2165	113	39	the	the	DET
ajfa-2165	113	40	volatility	volatility	NOUN
ajfa-2165	113	41	in	in	ADP
ajfa-2165	113	42	the	the	DET
ajfa-2165	113	43	post	post	NOUN
ajfa-2165	113	44	derivatives	derivative	NOUN
ajfa-2165	113	45	remains	remain	VERB
ajfa-2165	113	46	same	same	ADJ
ajfa-2165	113	47	or	or	CCONJ
ajfa-2165	113	48	increases	increase	VERB
ajfa-2165	113	49	marginally	marginally	ADV
ajfa-2165	113	50	.	.	PUNCT
ajfa-2165	114	1	thenmozhi	thenmozhi	PROPN
ajfa-2165	114	2	and	and	CCONJ
ajfa-2165	114	3	thomas	thomas	PROPN
ajfa-2165	114	4	(	(	PUNCT
ajfa-2165	114	5	2004	2004	NUM
ajfa-2165	114	6	)	)	PUNCT
ajfa-2165	114	7	conclude	conclude	VERB
ajfa-2165	114	8	that	that	SCONJ
ajfa-2165	114	9	there	there	PRON
ajfa-2165	114	10	is	be	VERB
ajfa-2165	114	11	a	a	DET
ajfa-2165	114	12	reduction	reduction	NOUN
ajfa-2165	114	13	in	in	ADP
ajfa-2165	114	14	volatility	volatility	NOUN
ajfa-2165	114	15	in	in	ADP
ajfa-2165	114	16	the	the	DET
ajfa-2165	114	17	underlying	underlie	VERB
ajfa-2165	114	18	stock	stock	NOUN
ajfa-2165	114	19	market	market	NOUN
ajfa-2165	114	20	and	and	CCONJ
ajfa-2165	114	21	increased	increase	VERB
ajfa-2165	114	22	market	market	NOUN
ajfa-2165	114	23	efficiency	efficiency	NOUN
ajfa-2165	114	24	following	follow	VERB
ajfa-2165	114	25	the	the	DET
ajfa-2165	114	26	launch	launch	NOUN
ajfa-2165	114	27	of	of	ADP
ajfa-2165	114	28	nifty	nifty	ADJ
ajfa-2165	114	29	-	-	PUNCT
ajfa-2165	114	30	linked	link	VERB
ajfa-2165	114	31	futures	future	NOUN
ajfa-2165	114	32	.	.	PUNCT
ajfa-2165	115	1	pok	pok	NOUN
ajfa-2165	115	2	and	and	CCONJ
ajfa-2165	115	3	poshakwale	poshakwale	PROPN
ajfa-2165	115	4	(	(	PUNCT
ajfa-2165	115	5	2004	2004	NUM
ajfa-2165	115	6	)	)	PUNCT
ajfa-2165	115	7	study	study	VERB
ajfa-2165	115	8	the	the	DET
ajfa-2165	115	9	impact	impact	NOUN
ajfa-2165	115	10	of	of	ADP
ajfa-2165	115	11	the	the	DET
ajfa-2165	115	12	futures	future	NOUN
ajfa-2165	115	13	trading	trading	NOUN
ajfa-2165	115	14	on	on	ADP
ajfa-2165	115	15	spot	spot	NOUN
ajfa-2165	115	16	market	market	NOUN
ajfa-2165	115	17	volatility	volatility	NOUN
ajfa-2165	115	18	.	.	PUNCT
ajfa-2165	116	1	they	they	PRON
ajfa-2165	116	2	used	use	VERB
ajfa-2165	116	3	data	datum	NOUN
ajfa-2165	116	4	from	from	ADP
ajfa-2165	116	5	both	both	CCONJ
ajfa-2165	116	6	the	the	DET
ajfa-2165	116	7	underlying	underlying	ADJ
ajfa-2165	116	8	and	and	CCONJ
ajfa-2165	116	9	non	non	ADJ
ajfa-2165	116	10	-	-	ADJ
ajfa-2165	116	11	underlying	underlying	ADJ
ajfa-2165	116	12	stocks	stock	NOUN
ajfa-2165	116	13	of	of	ADP
ajfa-2165	116	14	malaysian	malaysian	ADJ
ajfa-2165	116	15	stock	stock	NOUN
ajfa-2165	116	16	market	market	NOUN
ajfa-2165	116	17	.	.	PUNCT
ajfa-2165	117	1	they	they	PRON
ajfa-2165	117	2	used	use	VERB
ajfa-2165	117	3	garch	garch	NOUN
ajfa-2165	117	4	to	to	PART
ajfa-2165	117	5	test	test	VERB
ajfa-2165	117	6	time	time	NOUN
ajfa-2165	117	7	varying	vary	VERB
ajfa-2165	117	8	volatility	volatility	NOUN
ajfa-2165	117	9	and	and	CCONJ
ajfa-2165	117	10	volatility	volatility	NOUN
ajfa-2165	117	11	clustering	cluster	VERB
ajfa-2165	117	12	in	in	ADP
ajfa-2165	117	13	data	datum	NOUN
ajfa-2165	117	14	.	.	PUNCT
ajfa-2165	118	1	they	they	PRON
ajfa-2165	118	2	conclude	conclude	VERB
ajfa-2165	118	3	that	that	SCONJ
ajfa-2165	118	4	the	the	DET
ajfa-2165	118	5	initiation	initiation	NOUN
ajfa-2165	118	6	of	of	ADP
ajfa-2165	118	7	futures	future	NOUN
ajfa-2165	118	8	trading	trading	NOUN
ajfa-2165	118	9	increases	increase	VERB
ajfa-2165	118	10	spot	spot	NOUN
ajfa-2165	118	11	market	market	NOUN
ajfa-2165	118	12	volatility	volatility	NOUN
ajfa-2165	118	13	and	and	CCONJ
ajfa-2165	118	14	the	the	DET
ajfa-2165	118	15	flow	flow	NOUN
ajfa-2165	118	16	of	of	ADP
ajfa-2165	118	17	information	information	NOUN
ajfa-2165	118	18	to	to	ADP
ajfa-2165	118	19	the	the	DET
ajfa-2165	118	20	spot	spot	NOUN
ajfa-2165	118	21	market	market	NOUN
ajfa-2165	118	22	.	.	PUNCT
ajfa-2165	119	1	the	the	DET
ajfa-2165	119	2	underlying	underlie	VERB
ajfa-2165	119	3	stocks	stock	NOUN
ajfa-2165	119	4	respond	respond	VERB
ajfa-2165	119	5	more	more	ADV
ajfa-2165	119	6	to	to	ADP
ajfa-2165	119	7	recent	recent	ADJ
ajfa-2165	119	8	news	news	NOUN
ajfa-2165	119	9	whereas	whereas	SCONJ
ajfa-2165	119	10	the	the	DET
ajfa-2165	119	11	non	non	ADJ
ajfa-2165	119	12	-	-	ADJ
ajfa-2165	119	13	underlying	underlying	ADJ
ajfa-2165	119	14	stocks	stock	NOUN
ajfa-2165	119	15	respond	respond	VERB
ajfa-2165	119	16	to	to	ADP
ajfa-2165	119	17	old	old	ADJ
ajfa-2165	119	18	news	news	NOUN
ajfa-2165	119	19	.	.	PUNCT
ajfa-2165	120	1	antoniou	antoniou	PROPN
ajfa-2165	120	2	et	et	PROPN
ajfa-2165	120	3	al	al	PROPN
ajfa-2165	120	4	.	.	PROPN
ajfa-2165	121	1	(	(	PUNCT
ajfa-2165	121	2	2005	2005	NUM
ajfa-2165	121	3	)	)	PUNCT
ajfa-2165	121	4	examined	examine	VERB
ajfa-2165	121	5	the	the	DET
ajfa-2165	121	6	relationship	relationship	NOUN
ajfa-2165	121	7	between	between	ADP
ajfa-2165	121	8	index	index	NOUN
ajfa-2165	121	9	futures	future	NOUN
ajfa-2165	121	10	and	and	CCONJ
ajfa-2165	121	11	their	their	PRON
ajfa-2165	121	12	underlying	underlie	VERB
ajfa-2165	121	13	markets	market	NOUN
ajfa-2165	121	14	.	.	PUNCT
ajfa-2165	122	1	vipul	vipul	PROPN
ajfa-2165	122	2	(	(	PUNCT
ajfa-2165	122	3	2006	2006	NUM
ajfa-2165	122	4	)	)	PUNCT
ajfa-2165	122	5	investigate	investigate	VERB
ajfa-2165	122	6	the	the	DET
ajfa-2165	122	7	effect	effect	NOUN
ajfa-2165	122	8	of	of	ADP
ajfa-2165	122	9	futures	future	NOUN
ajfa-2165	122	10	trading	trading	NOUN
ajfa-2165	122	11	on	on	ADP
ajfa-2165	122	12	volatility	volatility	NOUN
ajfa-2165	122	13	in	in	ADP
ajfa-2165	122	14	nifty	nifty	ADJ
ajfa-2165	122	15	and	and	CCONJ
ajfa-2165	122	16	in	in	ADP
ajfa-2165	122	17	individual	individual	ADJ
ajfa-2165	122	18	stocks	stock	NOUN
ajfa-2165	122	19	using	use	VERB
ajfa-2165	122	20	data	datum	NOUN
ajfa-2165	122	21	for	for	ADP
ajfa-2165	122	22	the	the	DET
ajfa-2165	122	23	period	period	NOUN
ajfa-2165	122	24	from	from	ADP
ajfa-2165	122	25	1998	1998	NUM
ajfa-2165	122	26	to	to	ADP
ajfa-2165	122	27	2004	2004	NUM
ajfa-2165	122	28	.	.	PUNCT
ajfa-2165	123	1	using	use	VERB
ajfa-2165	123	2	garch	garch	NOUN
ajfa-2165	123	3	model	model	NOUN
ajfa-2165	123	4	to	to	PART
ajfa-2165	123	5	capture	capture	VERB
ajfa-2165	123	6	volatility	volatility	NOUN
ajfa-2165	123	7	clustering	cluster	VERB
ajfa-2165	123	8	phenomena	phenomenon	NOUN
ajfa-2165	123	9	in	in	ADP
ajfa-2165	123	10	the	the	DET
ajfa-2165	123	11	data	datum	NOUN
ajfa-2165	123	12	,	,	PUNCT
ajfa-2165	123	13	he	he	PRON
ajfa-2165	123	14	concludes	conclude	VERB
ajfa-2165	123	15	that	that	SCONJ
ajfa-2165	123	16	introduction	introduction	NOUN
ajfa-2165	123	17	of	of	ADP
ajfa-2165	123	18	derivatives	derivative	NOUN
ajfa-2165	123	19	trading	trading	NOUN
ajfa-2165	123	20	does	do	AUX
ajfa-2165	123	21	not	not	PART
ajfa-2165	123	22	destabilize	destabilize	VERB
ajfa-2165	123	23	the	the	DET
ajfa-2165	123	24	stock	stock	NOUN
ajfa-2165	123	25	market	market	NOUN
ajfa-2165	123	26	.	.	PUNCT
ajfa-2165	124	1	schwert	schwert	PROPN
ajfa-2165	124	2	(	(	PUNCT
ajfa-2165	124	3	1990	1990	NUM
ajfa-2165	124	4	)	)	PUNCT
ajfa-2165	124	5	,	,	PUNCT
ajfa-2165	124	6	backetti	backetti	PROPN
ajfa-2165	124	7	and	and	CCONJ
ajfa-2165	124	8	roberts	roberts	PROPN
ajfa-2165	124	9	(	(	PUNCT
ajfa-2165	124	10	1990	1990	NUM
ajfa-2165	124	11	)	)	PUNCT
ajfa-2165	124	12	,	,	PUNCT
ajfa-2165	124	13	darrat	darrat	NOUN
ajfa-2165	124	14	and	and	CCONJ
ajfa-2165	124	15	rahman	rahman	PROPN
ajfa-2165	124	16	(	(	PUNCT
ajfa-2165	124	17	1995	1995	NUM
ajfa-2165	124	18	)	)	PUNCT
ajfa-2165	124	19	,	,	PUNCT
ajfa-2165	124	20	kamara	kamara	PROPN
ajfa-2165	124	21	et	et	PROPN
ajfa-2165	124	22	al	al	PROPN
ajfa-2165	124	23	.	.	PROPN
ajfa-2165	124	24	(	(	PUNCT
ajfa-2165	124	25	1992	1992	NUM
ajfa-2165	124	26	)	)	PUNCT
ajfa-2165	124	27	,	,	PUNCT
ajfa-2165	124	28	perieli	perieli	NOUN
ajfa-2165	124	29	and	and	CCONJ
ajfa-2165	124	30	koutmos	koutmos	PROPN
ajfa-2165	124	31	(	(	PUNCT
ajfa-2165	124	32	1997	1997	NUM
ajfa-2165	124	33	)	)	PUNCT
ajfa-2165	124	34	,	,	PUNCT
ajfa-2165	124	35	spyrou	spyrou	NOUN
ajfa-2165	124	36	(	(	PUNCT
ajfa-2165	124	37	2005	2005	NUM
ajfa-2165	124	38	)	)	PUNCT
ajfa-2165	124	39	,	,	PUNCT
ajfa-2165	124	40	and	and	CCONJ
ajfa-2165	124	41	alexakis	alexakis	PROPN
ajfa-2165	124	42	(	(	PUNCT
ajfa-2165	124	43	2007	2007	NUM
ajfa-2165	124	44	)	)	PUNCT
ajfa-2165	124	45	also	also	ADV
ajfa-2165	124	46	confirmed	confirm	VERB
ajfa-2165	124	47	the	the	DET
ajfa-2165	124	48	stabilisation	stabilisation	NOUN
ajfa-2165	124	49	theory	theory	NOUN
ajfa-2165	124	50	.	.	PUNCT
ajfa-2165	125	1	suhasini	suhasini	PROPN
ajfa-2165	125	2	subramanian	subramanian	PROPN
ajfa-2165	125	3	(	(	PUNCT
ajfa-2165	125	4	2012	2012	NUM
ajfa-2165	125	5	)	)	PUNCT
ajfa-2165	125	6	,	,	PUNCT
ajfa-2165	125	7	analyse	analyse	NOUN
ajfa-2165	125	8	contrasting	contrast	VERB
ajfa-2165	125	9	theoretical	theoretical	ADJ
ajfa-2165	125	10	approaches	approach	NOUN
ajfa-2165	125	11	and	and	CCONJ
ajfa-2165	125	12	empirical	empirical	ADJ
ajfa-2165	125	13	evidence	evidence	NOUN
ajfa-2165	125	14	relating	relate	VERB
ajfa-2165	125	15	to	to	ADP
ajfa-2165	125	16	the	the	DET
ajfa-2165	125	17	impact	impact	NOUN
ajfa-2165	125	18	of	of	ADP
ajfa-2165	125	19	index	index	NOUN
ajfa-2165	125	20	futures	future	NOUN
ajfa-2165	125	21	on	on	ADP
ajfa-2165	125	22	volatility	volatility	NOUN
ajfa-2165	125	23	and	and	CCONJ
ajfa-2165	125	24	noise	noise	NOUN
ajfa-2165	125	25	trading	trading	NOUN
ajfa-2165	125	26	.	.	PUNCT
ajfa-2165	126	1	data	datum	NOUN
ajfa-2165	126	2	base	base	NOUN
ajfa-2165	126	3	and	and	CCONJ
ajfa-2165	126	4	methodology	methodology	NOUN
ajfa-2165	126	5	index	index	NOUN
ajfa-2165	126	6	futures	future	NOUN
ajfa-2165	126	7	on	on	ADP
ajfa-2165	126	8	s&p	s&p	PROPN
ajfa-2165	126	9	cnx	cnx	PROPN
ajfa-2165	126	10	nifty	nifty	ADJ
ajfa-2165	126	11	were	be	AUX
ajfa-2165	126	12	permitted	permit	VERB
ajfa-2165	126	13	for	for	ADP
ajfa-2165	126	14	trading	trading	NOUN
ajfa-2165	126	15	on	on	ADP
ajfa-2165	126	16	national	national	ADJ
ajfa-2165	126	17	stock	stock	PROPN
ajfa-2165	126	18	exchange	exchange	PROPN
ajfa-2165	126	19	(	(	PUNCT
ajfa-2165	126	20	nse	nse	NOUN
ajfa-2165	126	21	)	)	PUNCT
ajfa-2165	126	22	on	on	ADP
ajfa-2165	126	23	12th	12th	PROPN
ajfa-2165	126	24	june	june	PROPN
ajfa-2165	126	25	,	,	PUNCT
ajfa-2165	126	26	2000	2000	NUM
ajfa-2165	126	27	.	.	PUNCT
ajfa-2165	127	1	for	for	ADP
ajfa-2165	127	2	the	the	DET
ajfa-2165	127	3	purpose	purpose	NOUN
ajfa-2165	127	4	of	of	ADP
ajfa-2165	127	5	the	the	DET
ajfa-2165	127	6	current	current	ADJ
ajfa-2165	127	7	study	study	NOUN
ajfa-2165	127	8	on	on	ADP
ajfa-2165	127	9	price	price	NOUN
ajfa-2165	127	10	discovery	discovery	NOUN
ajfa-2165	127	11	,	,	PUNCT
ajfa-2165	127	12	index	index	NOUN
ajfa-2165	127	13	futures	future	NOUN
ajfa-2165	127	14	on	on	ADP
ajfa-2165	127	15	s&p	s&p	PROPN
ajfa-2165	127	16	cnx	cnx	PROPN
ajfa-2165	127	17	nifty	nifty	PROPN
ajfa-2165	127	18	.	.	PUNCT
ajfa-2165	128	1	daily	daily	ADJ
ajfa-2165	128	2	closing	closing	NOUN
ajfa-2165	128	3	values	value	NOUN
ajfa-2165	128	4	of	of	ADP
ajfa-2165	128	5	index	index	NOUN
ajfa-2165	128	6	futures	future	NOUN
ajfa-2165	128	7	and	and	CCONJ
ajfa-2165	128	8	s&p	s&p	PROPN
ajfa-2165	128	9	cnx	cnx	PROPN
ajfa-2165	128	10	nifty	nifty	PROPN
ajfa-2165	128	11	have	have	AUX
ajfa-2165	128	12	been	be	AUX
ajfa-2165	128	13	taken	take	VERB
ajfa-2165	128	14	from	from	ADP
ajfa-2165	128	15	june	june	PROPN
ajfa-2165	128	16	,	,	PUNCT
ajfa-2165	128	17	2000	2000	NUM
ajfa-2165	128	18	till	till	SCONJ
ajfa-2165	128	19	march	march	PROPN
ajfa-2165	128	20	2012	2012	NUM
ajfa-2165	128	21	.	.	PUNCT
ajfa-2165	129	1	returns	return	NOUN
ajfa-2165	129	2	(	(	PUNCT
ajfa-2165	129	3	rt	rt	NOUN
ajfa-2165	129	4	)	)	PUNCT
ajfa-2165	129	5	have	have	AUX
ajfa-2165	129	6	been	be	AUX
ajfa-2165	129	7	calculated	calculate	VERB
ajfa-2165	129	8	as	as	ADP
ajfa-2165	129	9	log	log	NOUN
ajfa-2165	129	10	of	of	ADP
ajfa-2165	129	11	ratio	ratio	NOUN
ajfa-2165	129	12	of	of	ADP
ajfa-2165	129	13	present	present	ADJ
ajfa-2165	129	14	day	day	NOUN
ajfa-2165	129	15	’s	’s	PART
ajfa-2165	129	16	price	price	NOUN
ajfa-2165	129	17	to	to	ADP
ajfa-2165	129	18	previous	previous	ADJ
ajfa-2165	129	19	day	day	NOUN
ajfa-2165	129	20	’s	’s	PART
ajfa-2165	129	21	price	price	NOUN
ajfa-2165	129	22	(	(	PUNCT
ajfa-2165	129	23	i.e.	i.e.	X
ajfa-2165	129	24	rt	rt	X
ajfa-2165	129	25	=	=	SYM
ajfa-2165	129	26	ln	ln	PROPN
ajfa-2165	129	27	(	(	PUNCT
ajfa-2165	129	28	pt	pt	INTJ
ajfa-2165	129	29	/pt-1	/pt-1	PROPN
ajfa-2165	129	30	)	)	PUNCT
ajfa-2165	129	31	)	)	PUNCT
ajfa-2165	129	32	.	.	PUNCT
ajfa-2165	130	1	data	datum	NOUN
ajfa-2165	130	2	relating	relate	VERB
ajfa-2165	130	3	to	to	ADP
ajfa-2165	130	4	the	the	DET
ajfa-2165	130	5	price	price	NOUN
ajfa-2165	130	6	series	series	NOUN
ajfa-2165	130	7	have	have	AUX
ajfa-2165	130	8	been	be	AUX
ajfa-2165	130	9	obtained	obtain	VERB
ajfa-2165	130	10	from	from	ADP
ajfa-2165	130	11	website	website	NOUN
ajfa-2165	130	12	of	of	ADP
ajfa-2165	130	13	nse	nse	NOUN
ajfa-2165	130	14	(	(	PUNCT
ajfa-2165	130	15	www.nseindia.com	www.nseindia.com	PROPN
ajfa-2165	130	16	)	)	PUNCT
ajfa-2165	130	17	.	.	PUNCT
ajfa-2165	131	1	given	give	VERB
ajfa-2165	131	2	the	the	DET
ajfa-2165	131	3	nature	nature	NOUN
ajfa-2165	131	4	of	of	ADP
ajfa-2165	131	5	the	the	DET
ajfa-2165	131	6	problem	problem	NOUN
ajfa-2165	131	7	and	and	CCONJ
ajfa-2165	131	8	the	the	DET
ajfa-2165	131	9	quantum	quantum	NOUN
ajfa-2165	131	10	of	of	ADP
ajfa-2165	131	11	data	datum	NOUN
ajfa-2165	131	12	,	,	PUNCT
ajfa-2165	131	13	we	we	PRON
ajfa-2165	131	14	first	first	ADV
ajfa-2165	131	15	study	study	VERB
ajfa-2165	131	16	the	the	DET
ajfa-2165	131	17	data	data	NOUN
ajfa-2165	131	18	properties	property	NOUN
ajfa-2165	131	19	from	from	ADP
ajfa-2165	131	20	an	an	DET
ajfa-2165	131	21	econometric	econometric	ADJ
ajfa-2165	131	22	perspective	perspective	NOUN
ajfa-2165	131	23	and	and	CCONJ
ajfa-2165	131	24	find	find	VERB
ajfa-2165	131	25	unit	unit	NOUN
ajfa-2165	131	26	root	root	NOUN
ajfa-2165	131	27	of	of	ADP
ajfa-2165	131	28	the	the	DET
ajfa-2165	131	29	two	two	NUM
ajfa-2165	131	30	series	series	NOUN
ajfa-2165	131	31	futures	future	NOUN
ajfa-2165	131	32	and	and	CCONJ
ajfa-2165	131	33	spot	spot	NOUN
ajfa-2165	131	34	.	.	PUNCT
ajfa-2165	132	1	further	far	ADV
ajfa-2165	132	2	,	,	PUNCT
ajfa-2165	132	3	to	to	PART
ajfa-2165	132	4	quantify	quantify	VERB
ajfa-2165	132	5	and	and	CCONJ
ajfa-2165	132	6	study	study	VERB
ajfa-2165	132	7	volatility	volatility	NOUN
ajfa-2165	132	8	spillover	spillover	NOUN
ajfa-2165	132	9	,	,	PUNCT
ajfa-2165	132	10	we	we	PRON
ajfa-2165	132	11	use	use	VERB
ajfa-2165	132	12	bivariate	bivariate	ADJ
ajfa-2165	132	13	egarch	egarch	NOUN
ajfa-2165	132	14	framework	framework	NOUN
ajfa-2165	132	15	which	which	PRON
ajfa-2165	132	16	is	be	AUX
ajfa-2165	132	17	covered	cover	VERB
ajfa-2165	132	18	in	in	ADP
ajfa-2165	132	19	the	the	DET
ajfa-2165	132	20	next	next	ADJ
ajfa-2165	132	21	section	section	NOUN
ajfa-2165	132	22	.	.	PUNCT
ajfa-2165	133	1	the	the	DET
ajfa-2165	133	2	regression	regression	NOUN
ajfa-2165	133	3	analysis	analysis	NOUN
ajfa-2165	133	4	would	would	AUX
ajfa-2165	133	5	yield	yield	VERB
ajfa-2165	133	6	efficient	efficient	ADJ
ajfa-2165	133	7	and	and	CCONJ
ajfa-2165	133	8	time	time	NOUN
ajfa-2165	133	9	invariant	invariant	ADJ
ajfa-2165	133	10	estimates	estimate	NOUN
ajfa-2165	133	11	provided	provide	VERB
ajfa-2165	133	12	that	that	SCONJ
ajfa-2165	133	13	the	the	DET
ajfa-2165	133	14	variables	variable	NOUN
ajfa-2165	133	15	are	be	AUX
ajfa-2165	133	16	stationary	stationary	ADJ
ajfa-2165	133	17	over	over	ADP
ajfa-2165	133	18	time	time	NOUN
ajfa-2165	133	19	.	.	PUNCT
ajfa-2165	134	1	however	however	ADV
ajfa-2165	134	2	,	,	PUNCT
ajfa-2165	134	3	many	many	ADJ
ajfa-2165	134	4	financial	financial	ADJ
ajfa-2165	134	5	and	and	CCONJ
ajfa-2165	134	6	macroeconomic	macroeconomic	ADJ
ajfa-2165	134	7	time	time	NOUN
ajfa-2165	134	8	series	series	PROPN
ajfa-2165	134	9	behave	behave	VERB
ajfa-2165	134	10	like	like	INTJ
ajfa-2165	134	11	random	random	ADJ
ajfa-2165	134	12	walk	walk	NOUN
ajfa-2165	134	13	.	.	PUNCT
ajfa-2165	135	1	the	the	DET
ajfa-2165	135	2	time	time	NOUN
ajfa-2165	135	3	series	series	PROPN
ajfa-2165	135	4	stationarity	stationarity	NOUN
ajfa-2165	135	5	of	of	ADP
ajfa-2165	135	6	sample	sample	NOUN
ajfa-2165	135	7	price	price	NOUN
ajfa-2165	135	8	series	series	NOUN
ajfa-2165	135	9	has	have	AUX
ajfa-2165	135	10	been	be	AUX
ajfa-2165	135	11	tested	test	VERB
ajfa-2165	135	12	using	use	VERB
ajfa-2165	135	13	augmented	augment	VERB
ajfa-2165	135	14	dickey	dickey	PROPN
ajfa-2165	135	15	fuller	full	ADJ
ajfa-2165	135	16	(	(	PUNCT
ajfa-2165	135	17	adf	adf	NOUN
ajfa-2165	135	18	)	)	PUNCT
ajfa-2165	135	19	1981	1981	NUM
ajfa-2165	135	20	.	.	PUNCT
ajfa-2165	136	1	the	the	DET
ajfa-2165	136	2	adf	adf	PROPN
ajfa-2165	136	3	test	test	NOUN
ajfa-2165	136	4	uses	use	VERB
ajfa-2165	136	5	the	the	DET
ajfa-2165	136	6	existence	existence	NOUN
ajfa-2165	136	7	of	of	ADP
ajfa-2165	136	8	a	a	DET
ajfa-2165	136	9	unit	unit	NOUN
ajfa-2165	136	10	root	root	NOUN
ajfa-2165	136	11	as	as	ADP
ajfa-2165	136	12	the	the	DET
ajfa-2165	136	13	null	null	ADJ
ajfa-2165	136	14	hypothesis	hypothesis	NOUN
ajfa-2165	136	15	.	.	PUNCT
ajfa-2165	137	1	to	to	PART
ajfa-2165	137	2	double	double	VERB
ajfa-2165	137	3	check	check	VERB
ajfa-2165	137	4	the	the	DET
ajfa-2165	137	5	robustness	robustness	NOUN
ajfa-2165	137	6	of	of	ADP
ajfa-2165	137	7	the	the	DET
ajfa-2165	137	8	results	result	NOUN
ajfa-2165	137	9	,	,	PUNCT
ajfa-2165	137	10	phillips	phillip	NOUN
ajfa-2165	137	11	and	and	CCONJ
ajfa-2165	137	12	perron	perron	PROPN
ajfa-2165	137	13	asian	asian	PROPN
ajfa-2165	137	14	journal	journal	PROPN
ajfa-2165	137	15	of	of	ADP
ajfa-2165	137	16	finance	finance	PROPN
ajfa-2165	137	17	&	&	CCONJ
ajfa-2165	137	18	accounting	accounting	PROPN
ajfa-2165	137	19	issn	issn	PROPN
ajfa-2165	137	20	1946	1946	NUM
ajfa-2165	137	21	-	-	PUNCT
ajfa-2165	137	22	052x	052x	NOUN
ajfa-2165	137	23	2013	2013	NUM
ajfa-2165	137	24	,	,	PUNCT
ajfa-2165	137	25	vol	vol	NOUN
ajfa-2165	137	26	.	.	PROPN
ajfa-2165	137	27	5	5	NUM
ajfa-2165	137	28	,	,	PUNCT
ajfa-2165	137	29	no	no	INTJ
ajfa-2165	137	30	.	.	NOUN
ajfa-2165	137	31	1	1	NUM
ajfa-2165	137	32	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-2165	137	33	295	295	NUM
ajfa-2165	137	34	(	(	PUNCT
ajfa-2165	137	35	1988	1988	NUM
ajfa-2165	137	36	)	)	PUNCT
ajfa-2165	137	37	test	test	NOUN
ajfa-2165	137	38	of	of	ADP
ajfa-2165	137	39	stationarity	stationarity	NOUN
ajfa-2165	137	40	has	have	AUX
ajfa-2165	137	41	also	also	ADV
ajfa-2165	137	42	been	be	AUX
ajfa-2165	137	43	performed	perform	VERB
ajfa-2165	137	44	for	for	ADP
ajfa-2165	137	45	the	the	DET
ajfa-2165	137	46	series	series	NOUN
ajfa-2165	137	47	.	.	PUNCT
ajfa-2165	138	1	the	the	DET
ajfa-2165	138	2	error	error	NOUN
ajfa-2165	138	3	correction	correction	NOUN
ajfa-2165	138	4	model	model	NOUN
ajfa-2165	138	5	takes	take	VERB
ajfa-2165	138	6	into	into	ADP
ajfa-2165	138	7	account	account	NOUN
ajfa-2165	138	8	the	the	DET
ajfa-2165	138	9	lag	lag	NOUN
ajfa-2165	138	10	terms	term	NOUN
ajfa-2165	138	11	in	in	ADP
ajfa-2165	138	12	the	the	DET
ajfa-2165	138	13	technical	technical	ADJ
ajfa-2165	138	14	equation	equation	NOUN
ajfa-2165	138	15	that	that	PRON
ajfa-2165	138	16	invites	invite	VERB
ajfa-2165	138	17	the	the	DET
ajfa-2165	138	18	short	short	ADJ
ajfa-2165	138	19	run	run	NOUN
ajfa-2165	138	20	adjustment	adjustment	NOUN
ajfa-2165	138	21	towards	towards	ADP
ajfa-2165	138	22	the	the	DET
ajfa-2165	138	23	long	long	ADJ
ajfa-2165	138	24	run	run	NOUN
ajfa-2165	138	25	.	.	PUNCT
ajfa-2165	139	1	this	this	PRON
ajfa-2165	139	2	is	be	AUX
ajfa-2165	139	3	the	the	DET
ajfa-2165	139	4	advantage	advantage	NOUN
ajfa-2165	139	5	of	of	ADP
ajfa-2165	139	6	the	the	DET
ajfa-2165	139	7	error	error	NOUN
ajfa-2165	139	8	correction	correction	NOUN
ajfa-2165	139	9	model	model	NOUN
ajfa-2165	139	10	in	in	ADP
ajfa-2165	139	11	evaluating	evaluate	VERB
ajfa-2165	139	12	price	price	NOUN
ajfa-2165	139	13	discovery	discovery	NOUN
ajfa-2165	139	14	.	.	PUNCT
ajfa-2165	140	1	the	the	DET
ajfa-2165	140	2	presence	presence	NOUN
ajfa-2165	140	3	of	of	ADP
ajfa-2165	140	4	error	error	NOUN
ajfa-2165	140	5	correction	correction	NOUN
ajfa-2165	140	6	dynamics	dynamic	NOUN
ajfa-2165	140	7	in	in	ADP
ajfa-2165	140	8	a	a	DET
ajfa-2165	140	9	particular	particular	ADJ
ajfa-2165	140	10	system	system	NOUN
ajfa-2165	140	11	confirms	confirm	VERB
ajfa-2165	140	12	the	the	DET
ajfa-2165	140	13	price	price	NOUN
ajfa-2165	140	14	discovery	discovery	NOUN
ajfa-2165	140	15	process	process	NOUN
ajfa-2165	140	16	that	that	PRON
ajfa-2165	140	17	enables	enable	VERB
ajfa-2165	140	18	the	the	DET
ajfa-2165	140	19	market	market	NOUN
ajfa-2165	140	20	to	to	PART
ajfa-2165	140	21	converge	converge	VERB
ajfa-2165	140	22	towards	towards	ADP
ajfa-2165	140	23	equilibrium	equilibrium	NOUN
ajfa-2165	140	24	.	.	PUNCT
ajfa-2165	141	1	in	in	ADP
ajfa-2165	141	2	addition	addition	NOUN
ajfa-2165	141	3	,	,	PUNCT
ajfa-2165	141	4	the	the	DET
ajfa-2165	141	5	model	model	NOUN
ajfa-2165	141	6	shows	show	VERB
ajfa-2165	141	7	not	not	PART
ajfa-2165	141	8	only	only	ADV
ajfa-2165	141	9	the	the	DET
ajfa-2165	141	10	degree	degree	NOUN
ajfa-2165	141	11	of	of	ADP
ajfa-2165	141	12	disequilibrium	disequilibrium	NOUN
ajfa-2165	141	13	from	from	ADP
ajfa-2165	141	14	one	one	NUM
ajfa-2165	141	15	period	period	NOUN
ajfa-2165	141	16	that	that	PRON
ajfa-2165	141	17	is	be	AUX
ajfa-2165	141	18	corrected	correct	VERB
ajfa-2165	141	19	in	in	ADP
ajfa-2165	141	20	the	the	DET
ajfa-2165	141	21	next	next	ADJ
ajfa-2165	141	22	,	,	PUNCT
ajfa-2165	141	23	but	but	CCONJ
ajfa-2165	141	24	also	also	ADV
ajfa-2165	141	25	the	the	DET
ajfa-2165	141	26	relative	relative	ADJ
ajfa-2165	141	27	magnitude	magnitude	NOUN
ajfa-2165	141	28	of	of	ADP
ajfa-2165	141	29	adjustment	adjustment	NOUN
ajfa-2165	141	30	that	that	PRON
ajfa-2165	141	31	occurs	occur	VERB
ajfa-2165	141	32	in	in	ADP
ajfa-2165	141	33	both	both	DET
ajfa-2165	141	34	markets	market	NOUN
ajfa-2165	141	35	in	in	ADP
ajfa-2165	141	36	achieving	achieve	VERB
ajfa-2165	141	37	equilibrium	equilibrium	NOUN
ajfa-2165	141	38	.	.	PUNCT
ajfa-2165	142	1	moreover	moreover	ADV
ajfa-2165	142	2	,	,	PUNCT
ajfa-2165	142	3	cointegration	cointegration	NOUN
ajfa-2165	142	4	analysis	analysis	NOUN
ajfa-2165	142	5	delivers	deliver	VERB
ajfa-2165	142	6	the	the	DET
ajfa-2165	142	7	message	message	NOUN
ajfa-2165	142	8	saying	say	VERB
ajfa-2165	142	9	how	how	SCONJ
ajfa-2165	142	10	two	two	NUM
ajfa-2165	142	11	markets	market	NOUN
ajfa-2165	142	12	(	(	PUNCT
ajfa-2165	142	13	such	such	ADJ
ajfa-2165	142	14	as	as	ADP
ajfa-2165	142	15	futures	future	NOUN
ajfa-2165	142	16	and	and	CCONJ
ajfa-2165	142	17	spot	spot	NOUN
ajfa-2165	142	18	commodity	commodity	NOUN
ajfa-2165	142	19	markets	market	NOUN
ajfa-2165	142	20	)	)	PUNCT
ajfa-2165	142	21	reveal	reveal	VERB
ajfa-2165	142	22	pricing	pricing	NOUN
ajfa-2165	142	23	information	information	NOUN
ajfa-2165	142	24	that	that	PRON
ajfa-2165	142	25	are	be	AUX
ajfa-2165	142	26	identified	identify	VERB
ajfa-2165	142	27	through	through	ADP
ajfa-2165	142	28	the	the	DET
ajfa-2165	142	29	price	price	NOUN
ajfa-2165	142	30	difference	difference	NOUN
ajfa-2165	142	31	between	between	ADP
ajfa-2165	142	32	the	the	DET
ajfa-2165	142	33	respective	respective	ADJ
ajfa-2165	142	34	markets	market	NOUN
ajfa-2165	142	35	.	.	PUNCT
ajfa-2165	143	1	the	the	DET
ajfa-2165	143	2	implication	implication	NOUN
ajfa-2165	143	3	of	of	ADP
ajfa-2165	143	4	cointegration	cointegration	NOUN
ajfa-2165	143	5	is	be	AUX
ajfa-2165	143	6	that	that	SCONJ
ajfa-2165	143	7	the	the	DET
ajfa-2165	143	8	commodities	commodity	NOUN
ajfa-2165	143	9	in	in	ADP
ajfa-2165	143	10	two	two	NUM
ajfa-2165	143	11	separate	separate	ADJ
ajfa-2165	143	12	markets	market	NOUN
ajfa-2165	143	13	respond	respond	VERB
ajfa-2165	143	14	disproportionately	disproportionately	ADV
ajfa-2165	143	15	to	to	ADP
ajfa-2165	143	16	the	the	DET
ajfa-2165	143	17	pricing	pricing	NOUN
ajfa-2165	143	18	information	information	NOUN
ajfa-2165	143	19	in	in	ADP
ajfa-2165	143	20	the	the	DET
ajfa-2165	143	21	short	short	ADJ
ajfa-2165	143	22	run	run	NOUN
ajfa-2165	143	23	,	,	PUNCT
ajfa-2165	143	24	but	but	CCONJ
ajfa-2165	143	25	they	they	PRON
ajfa-2165	143	26	converge	converge	VERB
ajfa-2165	143	27	to	to	ADP
ajfa-2165	143	28	equilibrium	equilibrium	NOUN
ajfa-2165	143	29	in	in	ADP
ajfa-2165	143	30	the	the	DET
ajfa-2165	143	31	long	long	ADJ
ajfa-2165	143	32	run	run	NOUN
ajfa-2165	143	33	under	under	ADP
ajfa-2165	143	34	the	the	DET
ajfa-2165	143	35	condition	condition	NOUN
ajfa-2165	143	36	that	that	SCONJ
ajfa-2165	143	37	both	both	DET
ajfa-2165	143	38	markets	market	NOUN
ajfa-2165	143	39	are	be	AUX
ajfa-2165	143	40	innovative	innovative	ADJ
ajfa-2165	143	41	and	and	CCONJ
ajfa-2165	143	42	efficient	efficient	ADJ
ajfa-2165	143	43	.	.	PUNCT
ajfa-2165	144	1	in	in	ADP
ajfa-2165	144	2	other	other	ADJ
ajfa-2165	144	3	words	word	NOUN
ajfa-2165	144	4	,	,	PUNCT
ajfa-2165	144	5	the	the	DET
ajfa-2165	144	6	root	root	NOUN
ajfa-2165	144	7	cause	cause	NOUN
ajfa-2165	144	8	of	of	ADP
ajfa-2165	144	9	disproportionate	disproportionate	ADJ
ajfa-2165	144	10	response	response	NOUN
ajfa-2165	144	11	to	to	ADP
ajfa-2165	144	12	the	the	DET
ajfa-2165	144	13	market	market	NOUN
ajfa-2165	144	14	information	information	NOUN
ajfa-2165	144	15	is	be	AUX
ajfa-2165	144	16	that	that	SCONJ
ajfa-2165	144	17	a	a	DET
ajfa-2165	144	18	particular	particular	ADJ
ajfa-2165	144	19	market	market	NOUN
ajfa-2165	144	20	is	be	AUX
ajfa-2165	144	21	not	not	PART
ajfa-2165	144	22	dynamic	dynamic	ADJ
ajfa-2165	144	23	in	in	ADP
ajfa-2165	144	24	terms	term	NOUN
ajfa-2165	144	25	of	of	ADP
ajfa-2165	144	26	accessing	access	VERB
ajfa-2165	144	27	the	the	DET
ajfa-2165	144	28	new	new	ADJ
ajfa-2165	144	29	flow	flow	NOUN
ajfa-2165	144	30	of	of	ADP
ajfa-2165	144	31	information	information	NOUN
ajfa-2165	144	32	and	and	CCONJ
ajfa-2165	144	33	adopting	adopt	VERB
ajfa-2165	144	34	better	well	ADJ
ajfa-2165	144	35	technology	technology	NOUN
ajfa-2165	144	36	.	.	PUNCT
ajfa-2165	145	1	therefore	therefore	ADV
ajfa-2165	145	2	,	,	PUNCT
ajfa-2165	145	3	there	there	PRON
ajfa-2165	145	4	is	be	VERB
ajfa-2165	145	5	a	a	DET
ajfa-2165	145	6	consensus	consensus	NOUN
ajfa-2165	145	7	that	that	SCONJ
ajfa-2165	145	8	price	price	NOUN
ajfa-2165	145	9	change	change	NOUN
ajfa-2165	145	10	in	in	ADP
ajfa-2165	145	11	one	one	NUM
ajfa-2165	145	12	market	market	NOUN
ajfa-2165	145	13	(	(	PUNCT
ajfa-2165	145	14	futures	future	NOUN
ajfa-2165	145	15	or	or	CCONJ
ajfa-2165	145	16	spot	spot	NOUN
ajfa-2165	145	17	commodity	commodity	NOUN
ajfa-2165	145	18	market	market	NOUN
ajfa-2165	145	19	)	)	PUNCT
ajfa-2165	145	20	generates	generate	VERB
ajfa-2165	145	21	price	price	NOUN
ajfa-2165	145	22	change	change	NOUN
ajfa-2165	145	23	in	in	ADP
ajfa-2165	145	24	the	the	DET
ajfa-2165	145	25	other	other	ADJ
ajfa-2165	145	26	market	market	NOUN
ajfa-2165	145	27	(	(	PUNCT
ajfa-2165	145	28	spot	spot	NOUN
ajfa-2165	145	29	or	or	CCONJ
ajfa-2165	145	30	commodity	commodity	NOUN
ajfa-2165	145	31	futures	future	NOUN
ajfa-2165	145	32	)	)	PUNCT
ajfa-2165	145	33	with	with	ADP
ajfa-2165	145	34	a	a	DET
ajfa-2165	145	35	view	view	NOUN
ajfa-2165	145	36	to	to	PART
ajfa-2165	145	37	bring	bring	VERB
ajfa-2165	145	38	a	a	DET
ajfa-2165	145	39	long	long	ADJ
ajfa-2165	145	40	run	run	NOUN
ajfa-2165	145	41	equilibrium	equilibrium	NOUN
ajfa-2165	145	42	relation	relation	NOUN
ajfa-2165	145	43	is	be	AUX
ajfa-2165	145	44	:	:	PUNCT
ajfa-2165	145	45	ttt	ttt	PROPN
ajfa-2165	145	46	sf	sf	PROPN
ajfa-2165	145	47			PROPN
ajfa-2165	145	48			PROPN
ajfa-2165	145	49	(	(	PUNCT
ajfa-2165	145	50	1	1	X
ajfa-2165	145	51	)	)	PUNCT
ajfa-2165	145	52	equation	equation	NOUN
ajfa-2165	145	53	(	(	PUNCT
ajfa-2165	145	54	1	1	X
ajfa-2165	145	55	)	)	PUNCT
ajfa-2165	145	56	can	can	AUX
ajfa-2165	145	57	be	be	AUX
ajfa-2165	145	58	expressed	express	VERB
ajfa-2165	145	59	as	as	ADP
ajfa-2165	145	60	in	in	ADP
ajfa-2165	145	61	the	the	DET
ajfa-2165	145	62	residual	residual	ADJ
ajfa-2165	145	63	form	form	NOUN
ajfa-2165	145	64	as	as	ADP
ajfa-2165	145	65	:	:	PUNCT
ajfa-2165	145	66	ệ	ệ	X
ajfa-2165	145	67	ftst	ftst	PROPN
ajfa-2165	145	68			PROPN
ajfa-2165	145	69	ệ	ệ	ADP
ajfa-2165	145	70	t	t	PROPN
ajfa-2165	145	71	(	(	PUNCT
ajfa-2165	145	72	2	2	NUM
ajfa-2165	145	73	)	)	PUNCT
ajfa-2165	145	74	in	in	ADP
ajfa-2165	145	75	the	the	DET
ajfa-2165	145	76	above	above	ADJ
ajfa-2165	145	77	equations	equation	NOUN
ajfa-2165	145	78	ft	ft	PROPN
ajfa-2165	145	79	and	and	CCONJ
ajfa-2165	145	80	st	st	PROPN
ajfa-2165	145	81	are	be	AUX
ajfa-2165	145	82	futures	future	NOUN
ajfa-2165	145	83	and	and	CCONJ
ajfa-2165	145	84	spot	spot	NOUN
ajfa-2165	145	85	prices	price	NOUN
ajfa-2165	145	86	of	of	ADP
ajfa-2165	145	87	a	a	DET
ajfa-2165	145	88	commodity	commodity	NOUN
ajfa-2165	145	89	in	in	ADP
ajfa-2165	145	90	the	the	DET
ajfa-2165	145	91	respective	respective	ADJ
ajfa-2165	145	92	market	market	NOUN
ajfa-2165	145	93	at	at	ADP
ajfa-2165	145	94	time	time	NOUN
ajfa-2165	145	95	t.	t.	PROPN
ajfa-2165	145	96	both	both	DET
ajfa-2165	145	97	α	α	PROPN
ajfa-2165	145	98	and	and	CCONJ
ajfa-2165	145	99	β	β	X
ajfa-2165	145	100	are	be	AUX
ajfa-2165	145	101	intercept	intercept	NOUN
ajfa-2165	145	102	and	and	CCONJ
ajfa-2165	145	103	coefficient	coefficient	ADJ
ajfa-2165	145	104	terms	term	NOUN
ajfa-2165	145	105	,	,	PUNCT
ajfa-2165	145	106	where	where	SCONJ
ajfa-2165	145	107	as	as	SCONJ
ajfa-2165	145	108	ệt	ệt	NOUN
ajfa-2165	145	109	is	be	AUX
ajfa-2165	145	110	estimated	estimate	VERB
ajfa-2165	145	111	white	white	ADJ
ajfa-2165	145	112	noise	noise	NOUN
ajfa-2165	145	113	disturbance	disturbance	NOUN
ajfa-2165	145	114	term	term	NOUN
ajfa-2165	145	115	.	.	PUNCT
ajfa-2165	146	1	the	the	DET
ajfa-2165	146	2	main	main	ADJ
ajfa-2165	146	3	advantage	advantage	NOUN
ajfa-2165	146	4	of	of	ADP
ajfa-2165	146	5	cointegration	cointegration	NOUN
ajfa-2165	146	6	is	be	AUX
ajfa-2165	146	7	that	that	SCONJ
ajfa-2165	146	8	each	each	DET
ajfa-2165	146	9	series	series	NOUN
ajfa-2165	146	10	can	can	AUX
ajfa-2165	146	11	be	be	AUX
ajfa-2165	146	12	represented	represent	VERB
ajfa-2165	146	13	by	by	ADP
ajfa-2165	146	14	an	an	DET
ajfa-2165	146	15	error	error	NOUN
ajfa-2165	146	16	correction	correction	NOUN
ajfa-2165	146	17	model	model	NOUN
ajfa-2165	146	18	which	which	PRON
ajfa-2165	146	19	includes	include	VERB
ajfa-2165	146	20	last	last	ADJ
ajfa-2165	146	21	period	period	NOUN
ajfa-2165	146	22	’s	’s	PART
ajfa-2165	146	23	equilibrium	equilibrium	NOUN
ajfa-2165	146	24	error	error	NOUN
ajfa-2165	146	25	with	with	ADP
ajfa-2165	146	26	adding	add	VERB
ajfa-2165	146	27	intercept	intercept	NOUN
ajfa-2165	146	28	term	term	NOUN
ajfa-2165	146	29	as	as	ADV
ajfa-2165	146	30	well	well	ADV
ajfa-2165	146	31	as	as	ADP
ajfa-2165	146	32	lagged	lag	VERB
ajfa-2165	146	33	values	value	NOUN
ajfa-2165	146	34	of	of	ADP
ajfa-2165	146	35	first	first	ADJ
ajfa-2165	146	36	difference	difference	NOUN
ajfa-2165	146	37	of	of	ADP
ajfa-2165	146	38	each	each	DET
ajfa-2165	146	39	variable	variable	NOUN
ajfa-2165	146	40	.	.	PUNCT
ajfa-2165	147	1	therefore	therefore	ADV
ajfa-2165	147	2	,	,	PUNCT
ajfa-2165	147	3	casual	casual	ADJ
ajfa-2165	147	4	relationship	relationship	NOUN
ajfa-2165	147	5	can	can	AUX
ajfa-2165	147	6	be	be	AUX
ajfa-2165	147	7	gauged	gauge	VERB
ajfa-2165	147	8	by	by	ADP
ajfa-2165	147	9	examining	examine	VERB
ajfa-2165	147	10	the	the	DET
ajfa-2165	147	11	statistical	statistical	ADJ
ajfa-2165	147	12	significance	significance	NOUN
ajfa-2165	147	13	and	and	CCONJ
ajfa-2165	147	14	relative	relative	ADJ
ajfa-2165	147	15	magnitude	magnitude	NOUN
ajfa-2165	147	16	of	of	ADP
ajfa-2165	147	17	the	the	DET
ajfa-2165	147	18	error	error	NOUN
ajfa-2165	147	19	correction	correction	NOUN
ajfa-2165	147	20	coefficient	coefficient	NOUN
ajfa-2165	147	21	and	and	CCONJ
ajfa-2165	147	22	coefficient	coefficient	NOUN
ajfa-2165	147	23	on	on	ADP
ajfa-2165	147	24	lagged	lag	VERB
ajfa-2165	147	25	variable	variable	NOUN
ajfa-2165	147	26	.	.	PUNCT
ajfa-2165	148	1	hence	hence	ADV
ajfa-2165	148	2	,	,	PUNCT
ajfa-2165	148	3	the	the	DET
ajfa-2165	148	4	error	error	NOUN
ajfa-2165	148	5	correction	correction	NOUN
ajfa-2165	148	6	model	model	NOUN
ajfa-2165	148	7	is	be	AUX
ajfa-2165	148	8	:	:	PUNCT
ajfa-2165	148	9	fttftftfft	fttftftfft	NOUN
ajfa-2165	148	10	syfef	syfef	VERB
ajfa-2165	148	11			NOUN
ajfa-2165	148	12			NOUN
ajfa-2165	148	13			NUM
ajfa-2165	148	14	11	11	NUM
ajfa-2165	148	15	^	^	SYM
ajfa-2165	148	16	1	1	NUM
ajfa-2165	148	17	(	(	PUNCT
ajfa-2165	148	18	3	3	NUM
ajfa-2165	148	19	)	)	PUNCT
ajfa-2165	148	20	sttftftsst	sttftftsst	NOUN
ajfa-2165	148	21	fyses	fyse	NOUN
ajfa-2165	148	22			NOUN
ajfa-2165	148	23			NOUN
ajfa-2165	148	24			NUM
ajfa-2165	148	25	11	11	NUM
ajfa-2165	148	26	^	^	SYM
ajfa-2165	148	27	1	1	NUM
ajfa-2165	148	28	(	(	PUNCT
ajfa-2165	148	29	4	4	NUM
ajfa-2165	148	30	)	)	PUNCT
ajfa-2165	148	31	in	in	ADP
ajfa-2165	148	32	the	the	DET
ajfa-2165	148	33	above	above	ADJ
ajfa-2165	148	34	two	two	NUM
ajfa-2165	148	35	equations	equation	NOUN
ajfa-2165	148	36	,	,	PUNCT
ajfa-2165	148	37	the	the	DET
ajfa-2165	148	38	first	first	ADJ
ajfa-2165	148	39	part	part	NOUN
ajfa-2165	148	40	et1	et1	NOUN
ajfa-2165	148	41	^	^	PUNCT
ajfa-2165	148	42	is	be	AUX
ajfa-2165	148	43	the	the	DET
ajfa-2165	148	44	equilibrium	equilibrium	NOUN
ajfa-2165	148	45	error	error	NOUN
ajfa-2165	148	46	which	which	PRON
ajfa-2165	148	47	measures	measure	VERB
ajfa-2165	148	48	how	how	SCONJ
ajfa-2165	148	49	the	the	DET
ajfa-2165	148	50	dependent	dependent	ADJ
ajfa-2165	148	51	variable	variable	NOUN
ajfa-2165	148	52	in	in	ADP
ajfa-2165	148	53	one	one	NUM
ajfa-2165	148	54	equation	equation	NOUN
ajfa-2165	148	55	adjusts	adjust	VERB
ajfa-2165	148	56	to	to	ADP
ajfa-2165	148	57	the	the	DET
ajfa-2165	148	58	previous	previous	ADJ
ajfa-2165	148	59	period	period	NOUN
ajfa-2165	148	60	’s	’s	PART
ajfa-2165	148	61	deviation	deviation	NOUN
ajfa-2165	148	62	that	that	PRON
ajfa-2165	148	63	arises	arise	VERB
ajfa-2165	148	64	from	from	ADP
ajfa-2165	148	65	long	long	ADJ
ajfa-2165	148	66	run	run	NOUN
ajfa-2165	148	67	equilibrium	equilibrium	NOUN
ajfa-2165	148	68	.	.	PUNCT
ajfa-2165	149	1	the	the	DET
ajfa-2165	149	2	remaining	remain	VERB
ajfa-2165	149	3	part	part	NOUN
ajfa-2165	149	4	of	of	ADP
ajfa-2165	149	5	the	the	DET
ajfa-2165	149	6	equation	equation	NOUN
ajfa-2165	149	7	is	be	AUX
ajfa-2165	149	8	lagged	lag	VERB
ajfa-2165	149	9	first	first	ADJ
ajfa-2165	149	10	difference	difference	NOUN
ajfa-2165	149	11	which	which	PRON
ajfa-2165	149	12	asian	asian	ADJ
ajfa-2165	149	13	journal	journal	NOUN
ajfa-2165	149	14	of	of	ADP
ajfa-2165	149	15	finance	finance	PROPN
ajfa-2165	149	16	&	&	CCONJ
ajfa-2165	149	17	accounting	accounting	PROPN
ajfa-2165	149	18	issn	issn	PROPN
ajfa-2165	149	19	1946	1946	NUM
ajfa-2165	149	20	-	-	PUNCT
ajfa-2165	149	21	052x	052x	NOUN
ajfa-2165	149	22	2013	2013	NUM
ajfa-2165	149	23	,	,	PUNCT
ajfa-2165	149	24	vol	vol	NOUN
ajfa-2165	149	25	.	.	PROPN
ajfa-2165	149	26	5	5	NUM
ajfa-2165	149	27	,	,	PUNCT
ajfa-2165	149	28	no	no	INTJ
ajfa-2165	149	29	.	.	NOUN
ajfa-2165	149	30	1	1	NUM
ajfa-2165	149	31	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-2165	149	32	296	296	NUM
ajfa-2165	149	33	represents	represent	VERB
ajfa-2165	149	34	the	the	DET
ajfa-2165	149	35	short	short	ADJ
ajfa-2165	149	36	run	run	NOUN
ajfa-2165	149	37	effect	effect	NOUN
ajfa-2165	149	38	of	of	ADP
ajfa-2165	149	39	previous	previous	ADJ
ajfa-2165	149	40	period	period	NOUN
ajfa-2165	149	41	’s	’s	PART
ajfa-2165	149	42	change	change	NOUN
ajfa-2165	149	43	in	in	ADP
ajfa-2165	149	44	price	price	NOUN
ajfa-2165	149	45	on	on	ADP
ajfa-2165	149	46	current	current	ADJ
ajfa-2165	149	47	period	period	NOUN
ajfa-2165	149	48	’s	’s	PART
ajfa-2165	149	49	deviation	deviation	NOUN
ajfa-2165	149	50	.	.	PUNCT
ajfa-2165	150	1	the	the	DET
ajfa-2165	150	2	coefficients	coefficient	NOUN
ajfa-2165	150	3	of	of	ADP
ajfa-2165	150	4	the	the	DET
ajfa-2165	150	5	equilibrium	equilibrium	NOUN
ajfa-2165	150	6	error	error	NOUN
ajfa-2165	150	7	,	,	PUNCT
ajfa-2165	150	8	αf	αf	VERB
ajfa-2165	150	9	and	and	CCONJ
ajfa-2165	150	10	αs	αs	AUX
ajfa-2165	150	11	signify	signify	VERB
ajfa-2165	150	12	the	the	DET
ajfa-2165	150	13	speed	speed	NOUN
ajfa-2165	150	14	of	of	ADP
ajfa-2165	150	15	adjustment	adjustment	NOUN
ajfa-2165	150	16	coefficients	coefficient	NOUN
ajfa-2165	150	17	in	in	ADP
ajfa-2165	150	18	future	future	ADJ
ajfa-2165	150	19	and	and	CCONJ
ajfa-2165	150	20	spot	spot	NOUN
ajfa-2165	150	21	commodity	commodity	NOUN
ajfa-2165	150	22	markets	market	NOUN
ajfa-2165	150	23	that	that	PRON
ajfa-2165	150	24	claim	claim	VERB
ajfa-2165	150	25	significant	significant	ADJ
ajfa-2165	150	26	implication	implication	NOUN
ajfa-2165	150	27	in	in	ADP
ajfa-2165	150	28	an	an	DET
ajfa-2165	150	29	error	error	NOUN
ajfa-2165	150	30	correction	correction	NOUN
ajfa-2165	150	31	model	model	NOUN
ajfa-2165	150	32	.	.	PUNCT
ajfa-2165	151	1	at	at	ADV
ajfa-2165	151	2	least	least	ADV
ajfa-2165	151	3	one	one	NUM
ajfa-2165	151	4	coefficient	coefficient	NOUN
ajfa-2165	151	5	must	must	AUX
ajfa-2165	151	6	be	be	AUX
ajfa-2165	151	7	non	non	ADJ
ajfa-2165	151	8	zero	zero	NUM
ajfa-2165	151	9	for	for	SCONJ
ajfa-2165	151	10	the	the	DET
ajfa-2165	151	11	model	model	NOUN
ajfa-2165	151	12	to	to	PART
ajfa-2165	151	13	be	be	AUX
ajfa-2165	151	14	an	an	DET
ajfa-2165	151	15	error	error	NOUN
ajfa-2165	151	16	correction	correction	NOUN
ajfa-2165	151	17	model	model	NOUN
ajfa-2165	151	18	(	(	PUNCT
ajfa-2165	151	19	ecm	ecm	PROPN
ajfa-2165	151	20	)	)	PUNCT
ajfa-2165	151	21	.	.	PUNCT
ajfa-2165	152	1	the	the	DET
ajfa-2165	152	2	coefficient	coefficient	NOUN
ajfa-2165	152	3	acts	act	VERB
ajfa-2165	152	4	as	as	ADP
ajfa-2165	152	5	an	an	DET
ajfa-2165	152	6	evidence	evidence	NOUN
ajfa-2165	152	7	of	of	ADP
ajfa-2165	152	8	direction	direction	NOUN
ajfa-2165	152	9	of	of	ADP
ajfa-2165	152	10	casual	casual	ADJ
ajfa-2165	152	11	relation	relation	NOUN
ajfa-2165	152	12	and	and	CCONJ
ajfa-2165	152	13	reveals	reveal	VERB
ajfa-2165	152	14	the	the	DET
ajfa-2165	152	15	speed	speed	NOUN
ajfa-2165	152	16	at	at	ADP
ajfa-2165	152	17	which	which	DET
ajfa-2165	152	18	discrepancy	discrepancy	NOUN
ajfa-2165	152	19	from	from	ADP
ajfa-2165	152	20	equilibrium	equilibrium	NOUN
ajfa-2165	152	21	is	be	AUX
ajfa-2165	152	22	corrected	correct	VERB
ajfa-2165	152	23	or	or	CCONJ
ajfa-2165	152	24	minimized	minimize	VERB
ajfa-2165	152	25	.	.	PUNCT
ajfa-2165	153	1	if	if	SCONJ
ajfa-2165	153	2	,	,	PUNCT
ajfa-2165	153	3	αf	αf	NOUN
ajfa-2165	153	4	is	be	AUX
ajfa-2165	153	5	statistically	statistically	ADV
ajfa-2165	153	6	insignificant	insignificant	ADJ
ajfa-2165	153	7	,	,	PUNCT
ajfa-2165	153	8	the	the	DET
ajfa-2165	153	9	current	current	ADJ
ajfa-2165	153	10	period	period	NOUN
ajfa-2165	153	11	’s	’s	PART
ajfa-2165	153	12	change	change	NOUN
ajfa-2165	153	13	in	in	ADP
ajfa-2165	153	14	future	future	ADJ
ajfa-2165	153	15	prices	price	NOUN
ajfa-2165	153	16	does	do	AUX
ajfa-2165	153	17	not	not	PART
ajfa-2165	153	18	respond	respond	VERB
ajfa-2165	153	19	to	to	ADP
ajfa-2165	153	20	last	last	ADJ
ajfa-2165	153	21	period	period	NOUN
ajfa-2165	153	22	’s	’s	PART
ajfa-2165	153	23	deviation	deviation	NOUN
ajfa-2165	153	24	from	from	ADP
ajfa-2165	153	25	long	long	ADJ
ajfa-2165	153	26	run	run	NOUN
ajfa-2165	153	27	equilibrium	equilibrium	NOUN
ajfa-2165	153	28	.	.	PUNCT
ajfa-2165	154	1	if	if	SCONJ
ajfa-2165	154	2	both	both	PRON
ajfa-2165	154	3	,	,	PUNCT
ajfa-2165	154	4	αf	αf	VERB
ajfa-2165	154	5	and	and	CCONJ
ajfa-2165	154	6	βf	βf	CCONJ
ajfa-2165	154	7	are	be	AUX
ajfa-2165	154	8	statistically	statistically	ADV
ajfa-2165	154	9	insignificant	insignificant	ADJ
ajfa-2165	154	10	;	;	PUNCT
ajfa-2165	154	11	the	the	DET
ajfa-2165	154	12	spot	spot	NOUN
ajfa-2165	154	13	price	price	NOUN
ajfa-2165	154	14	does	do	AUX
ajfa-2165	154	15	not	not	PART
ajfa-2165	154	16	granger	granger	AUX
ajfa-2165	154	17	cause	cause	VERB
ajfa-2165	154	18	futures	future	NOUN
ajfa-2165	154	19	price	price	NOUN
ajfa-2165	154	20	.	.	PUNCT
ajfa-2165	155	1	the	the	DET
ajfa-2165	155	2	justification	justification	NOUN
ajfa-2165	155	3	of	of	ADP
ajfa-2165	155	4	estimating	estimate	VERB
ajfa-2165	155	5	ecm	ecm	NOUN
ajfa-2165	155	6	is	be	AUX
ajfa-2165	155	7	to	to	PART
ajfa-2165	155	8	know	know	VERB
ajfa-2165	155	9	which	which	DET
ajfa-2165	155	10	sample	sample	NOUN
ajfa-2165	155	11	markets	market	NOUN
ajfa-2165	155	12	play	play	VERB
ajfa-2165	155	13	a	a	DET
ajfa-2165	155	14	crucial	crucial	ADJ
ajfa-2165	155	15	role	role	NOUN
ajfa-2165	155	16	in	in	ADP
ajfa-2165	155	17	price	price	NOUN
ajfa-2165	155	18	discovery	discovery	NOUN
ajfa-2165	155	19	process	process	NOUN
ajfa-2165	155	20	.	.	PUNCT
ajfa-2165	156	1	error	error	NOUN
ajfa-2165	156	2	correction	correction	NOUN
ajfa-2165	156	3	terms	term	NOUN
ajfa-2165	156	4	(	(	PUNCT
ajfa-2165	156	5	ects	ect	NOUN
ajfa-2165	156	6	)	)	PUNCT
ajfa-2165	156	7	also	also	ADV
ajfa-2165	156	8	known	know	VERB
ajfa-2165	156	9	as	as	ADP
ajfa-2165	156	10	meanreverting	meanreverting	ADJ
ajfa-2165	156	11	price	price	NOUN
ajfa-2165	156	12	process	process	NOUN
ajfa-2165	156	13	,	,	PUNCT
ajfa-2165	156	14	provide	provide	VERB
ajfa-2165	156	15	some	some	DET
ajfa-2165	156	16	insights	insight	NOUN
ajfa-2165	156	17	into	into	ADP
ajfa-2165	156	18	the	the	DET
ajfa-2165	156	19	adjustment	adjustment	NOUN
ajfa-2165	156	20	process	process	NOUN
ajfa-2165	156	21	of	of	ADP
ajfa-2165	156	22	spot	spot	NOUN
ajfa-2165	156	23	and	and	CCONJ
ajfa-2165	156	24	future	future	ADJ
ajfa-2165	156	25	prices	price	NOUN
ajfa-2165	156	26	towards	towards	ADP
ajfa-2165	156	27	long	long	ADJ
ajfa-2165	156	28	run	run	NOUN
ajfa-2165	156	29	equilibrium	equilibrium	NOUN
ajfa-2165	156	30	.	.	PUNCT
ajfa-2165	157	1	this	this	PRON
ajfa-2165	157	2	implies	imply	VERB
ajfa-2165	157	3	that	that	SCONJ
ajfa-2165	157	4	once	once	SCONJ
ajfa-2165	157	5	the	the	DET
ajfa-2165	157	6	price	price	NOUN
ajfa-2165	157	7	relationship	relationship	NOUN
ajfa-2165	157	8	of	of	ADP
ajfa-2165	157	9	spot	spot	NOUN
ajfa-2165	157	10	and	and	CCONJ
ajfa-2165	157	11	futures	future	NOUN
ajfa-2165	157	12	market	market	NOUN
ajfa-2165	157	13	deviates	deviate	VERB
ajfa-2165	157	14	away	away	ADV
ajfa-2165	157	15	from	from	ADP
ajfa-2165	157	16	the	the	DET
ajfa-2165	157	17	long	long	ADV
ajfa-2165	157	18	-	-	PUNCT
ajfa-2165	157	19	run	run	VERB
ajfa-2165	157	20	coinetgrated	coinetgrate	VERB
ajfa-2165	157	21	equilibrium	equilibrium	NOUN
ajfa-2165	157	22	,	,	PUNCT
ajfa-2165	157	23	both	both	DET
ajfa-2165	157	24	markets	market	NOUN
ajfa-2165	157	25	will	will	AUX
ajfa-2165	157	26	make	make	VERB
ajfa-2165	157	27	adjustments	adjustment	NOUN
ajfa-2165	157	28	to	to	PART
ajfa-2165	157	29	re	re	VERB
ajfa-2165	157	30	-	-	VERB
ajfa-2165	157	31	establish	establish	VERB
ajfa-2165	157	32	the	the	DET
ajfa-2165	157	33	equilibrium	equilibrium	NOUN
ajfa-2165	157	34	condition	condition	NOUN
ajfa-2165	157	35	during	during	ADP
ajfa-2165	157	36	the	the	DET
ajfa-2165	157	37	next	next	ADJ
ajfa-2165	157	38	period	period	NOUN
ajfa-2165	157	39	.	.	PUNCT
ajfa-2165	158	1	bi	bi	ADJ
ajfa-2165	158	2	-	-	ADJ
ajfa-2165	158	3	variate	variate	ADJ
ajfa-2165	158	4	egarch	egarch	NOUN
ajfa-2165	158	5	model	model	NOUN
ajfa-2165	158	6	and	and	CCONJ
ajfa-2165	158	7	volatility	volatility	NOUN
ajfa-2165	158	8	spillover	spillover	VERB
ajfa-2165	158	9	in	in	ADP
ajfa-2165	158	10	this	this	DET
ajfa-2165	158	11	section	section	NOUN
ajfa-2165	158	12	,	,	PUNCT
ajfa-2165	158	13	we	we	PRON
ajfa-2165	158	14	evaluate	evaluate	VERB
ajfa-2165	158	15	if	if	SCONJ
ajfa-2165	158	16	there	there	PRON
ajfa-2165	158	17	is	be	VERB
ajfa-2165	158	18	any	any	DET
ajfa-2165	158	19	volatility	volatility	NOUN
ajfa-2165	158	20	spillover	spillover	VERB
ajfa-2165	158	21	between	between	ADP
ajfa-2165	158	22	future	future	NOUN
ajfa-2165	158	23	and	and	CCONJ
ajfa-2165	158	24	spot	spot	NOUN
ajfa-2165	158	25	market	market	NOUN
ajfa-2165	158	26	for	for	ADP
ajfa-2165	158	27	the	the	DET
ajfa-2165	158	28	sample	sample	NOUN
ajfa-2165	158	29	series	series	NOUN
ajfa-2165	158	30	.	.	PUNCT
ajfa-2165	159	1	volatility	volatility	NOUN
ajfa-2165	159	2	spillover	spillover	NOUN
ajfa-2165	159	3	reveals	reveal	VERB
ajfa-2165	159	4	that	that	SCONJ
ajfa-2165	159	5	future	future	ADJ
ajfa-2165	159	6	trading	trading	NOUN
ajfa-2165	159	7	could	could	AUX
ajfa-2165	159	8	intensify	intensify	VERB
ajfa-2165	159	9	volatility	volatility	NOUN
ajfa-2165	159	10	in	in	ADP
ajfa-2165	159	11	the	the	DET
ajfa-2165	159	12	underlying	underlie	VERB
ajfa-2165	159	13	spot	spot	NOUN
ajfa-2165	159	14	market	market	NOUN
ajfa-2165	159	15	due	due	ADP
ajfa-2165	159	16	to	to	ADP
ajfa-2165	159	17	the	the	DET
ajfa-2165	159	18	larger	large	ADJ
ajfa-2165	159	19	trading	trading	NOUN
ajfa-2165	159	20	program	program	NOUN
ajfa-2165	159	21	and	and	CCONJ
ajfa-2165	159	22	the	the	DET
ajfa-2165	159	23	speculative	speculative	ADJ
ajfa-2165	159	24	nature	nature	NOUN
ajfa-2165	159	25	of	of	ADP
ajfa-2165	159	26	the	the	DET
ajfa-2165	159	27	future	future	ADJ
ajfa-2165	159	28	trading	trading	NOUN
ajfa-2165	159	29	.	.	PUNCT
ajfa-2165	160	1	the	the	DET
ajfa-2165	160	2	volatility	volatility	NOUN
ajfa-2165	160	3	spillovers	spillover	NOUN
ajfa-2165	160	4	hypothesis	hypothesis	NOUN
ajfa-2165	160	5	involves	involve	VERB
ajfa-2165	160	6	testing	testing	NOUN
ajfa-2165	160	7	for	for	ADP
ajfa-2165	160	8	the	the	DET
ajfa-2165	160	9	lead	lead	ADJ
ajfa-2165	160	10	-	-	PUNCT
ajfa-2165	160	11	lag	lag	NOUN
ajfa-2165	160	12	relations	relation	NOUN
ajfa-2165	160	13	between	between	ADP
ajfa-2165	160	14	volatilities	volatility	NOUN
ajfa-2165	160	15	in	in	ADP
ajfa-2165	160	16	the	the	DET
ajfa-2165	160	17	futures	future	NOUN
ajfa-2165	160	18	and	and	CCONJ
ajfa-2165	160	19	spot	spot	NOUN
ajfa-2165	160	20	markets	market	NOUN
ajfa-2165	160	21	.	.	PUNCT
ajfa-2165	161	1	clearly	clearly	ADV
ajfa-2165	161	2	,	,	PUNCT
ajfa-2165	161	3	reliable	reliable	ADJ
ajfa-2165	161	4	tests	test	NOUN
ajfa-2165	161	5	require	require	VERB
ajfa-2165	161	6	common	common	ADJ
ajfa-2165	161	7	good	good	ADJ
ajfa-2165	161	8	measure	measure	NOUN
ajfa-2165	161	9	of	of	ADP
ajfa-2165	161	10	volatilities	volatility	NOUN
ajfa-2165	161	11	.	.	PUNCT
ajfa-2165	162	1	bollerslev	bollerslev	PROPN
ajfa-2165	162	2	’s	’s	PART
ajfa-2165	162	3	(	(	PUNCT
ajfa-2165	162	4	1986	1986	NUM
ajfa-2165	162	5	)	)	PUNCT
ajfa-2165	162	6	generalize	generalize	VERB
ajfa-2165	162	7	autoregressive	autoregressive	ADJ
ajfa-2165	162	8	conditional	conditional	ADJ
ajfa-2165	162	9	heteroscedasticity	heteroscedasticity	NOUN
ajfa-2165	162	10	(	(	PUNCT
ajfa-2165	162	11	garch	garch	NOUN
ajfa-2165	162	12	)	)	PUNCT
ajfa-2165	162	13	model	model	NOUN
ajfa-2165	162	14	can	can	AUX
ajfa-2165	162	15	not	not	PART
ajfa-2165	162	16	be	be	AUX
ajfa-2165	162	17	used	use	VERB
ajfa-2165	162	18	due	due	ADP
ajfa-2165	162	19	to	to	ADP
ajfa-2165	162	20	certain	certain	ADJ
ajfa-2165	162	21	regularities	regularity	NOUN
ajfa-2165	162	22	where	where	SCONJ
ajfa-2165	162	23	it	it	PRON
ajfa-2165	162	24	assumes	assume	VERB
ajfa-2165	162	25	that	that	SCONJ
ajfa-2165	162	26	positive	positive	ADJ
ajfa-2165	162	27	and	and	CCONJ
ajfa-2165	162	28	error	error	NOUN
ajfa-2165	162	29	terms	term	NOUN
ajfa-2165	162	30	have	have	VERB
ajfa-2165	162	31	a	a	DET
ajfa-2165	162	32	symmetric	symmetric	ADJ
ajfa-2165	162	33	effect	effect	NOUN
ajfa-2165	162	34	on	on	ADP
ajfa-2165	162	35	the	the	DET
ajfa-2165	162	36	volatility	volatility	NOUN
ajfa-2165	162	37	.	.	PUNCT
ajfa-2165	163	1	in	in	ADP
ajfa-2165	163	2	other	other	ADJ
ajfa-2165	163	3	words	word	NOUN
ajfa-2165	163	4	,	,	PUNCT
ajfa-2165	163	5	good	good	ADJ
ajfa-2165	163	6	news	news	NOUN
ajfa-2165	163	7	(	(	PUNCT
ajfa-2165	163	8	market	market	NOUN
ajfa-2165	163	9	advances	advance	NOUN
ajfa-2165	163	10	)	)	PUNCT
ajfa-2165	163	11	and	and	CCONJ
ajfa-2165	163	12	bad	bad	ADJ
ajfa-2165	163	13	news	news	NOUN
ajfa-2165	163	14	(	(	PUNCT
ajfa-2165	163	15	market	market	NOUN
ajfa-2165	163	16	retreats	retreat	NOUN
ajfa-2165	163	17	)	)	PUNCT
ajfa-2165	163	18	have	have	VERB
ajfa-2165	163	19	the	the	DET
ajfa-2165	163	20	same	same	ADJ
ajfa-2165	163	21	effect	effect	NOUN
ajfa-2165	163	22	on	on	ADP
ajfa-2165	163	23	the	the	DET
ajfa-2165	163	24	volatility	volatility	NOUN
ajfa-2165	163	25	in	in	ADP
ajfa-2165	163	26	this	this	DET
ajfa-2165	163	27	model	model	NOUN
ajfa-2165	163	28	.	.	PUNCT
ajfa-2165	164	1	this	this	PRON
ajfa-2165	164	2	implies	imply	VERB
ajfa-2165	164	3	that	that	SCONJ
ajfa-2165	164	4	the	the	DET
ajfa-2165	164	5	leverage	leverage	NOUN
ajfa-2165	164	6	effect	effect	NOUN
ajfa-2165	164	7	(	(	PUNCT
ajfa-2165	164	8	price	price	NOUN
ajfa-2165	164	9	rise	rise	NOUN
ajfa-2165	164	10	and	and	CCONJ
ajfa-2165	164	11	fall	fall	NOUN
ajfa-2165	164	12	)	)	PUNCT
ajfa-2165	164	13	is	be	AUX
ajfa-2165	164	14	neutralized	neutralize	VERB
ajfa-2165	164	15	in	in	ADP
ajfa-2165	164	16	this	this	DET
ajfa-2165	164	17	model	model	NOUN
ajfa-2165	164	18	.	.	PUNCT
ajfa-2165	165	1	the	the	DET
ajfa-2165	165	2	second	second	ADJ
ajfa-2165	165	3	regularity	regularity	NOUN
ajfa-2165	165	4	is	be	AUX
ajfa-2165	165	5	that	that	SCONJ
ajfa-2165	165	6	all	all	DET
ajfa-2165	165	7	coefficients	coefficient	NOUN
ajfa-2165	165	8	need	need	VERB
ajfa-2165	165	9	to	to	PART
ajfa-2165	165	10	be	be	AUX
ajfa-2165	165	11	positive	positive	ADJ
ajfa-2165	165	12	to	to	PART
ajfa-2165	165	13	ensure	ensure	VERB
ajfa-2165	165	14	that	that	SCONJ
ajfa-2165	165	15	the	the	DET
ajfa-2165	165	16	conditional	conditional	ADJ
ajfa-2165	165	17	variance	variance	NOUN
ajfa-2165	165	18	is	be	AUX
ajfa-2165	165	19	never	never	ADV
ajfa-2165	165	20	negative	negative	ADJ
ajfa-2165	165	21	(	(	PUNCT
ajfa-2165	165	22	i.e.	i.e.	X
ajfa-2165	165	23	measure	measure	NOUN
ajfa-2165	165	24	of	of	ADP
ajfa-2165	165	25	risk	risk	NOUN
ajfa-2165	165	26	)	)	PUNCT
ajfa-2165	165	27	.	.	PUNCT
ajfa-2165	166	1	to	to	PART
ajfa-2165	166	2	overcome	overcome	VERB
ajfa-2165	166	3	these	these	DET
ajfa-2165	166	4	weaknesses	weakness	NOUN
ajfa-2165	166	5	of	of	ADP
ajfa-2165	166	6	the	the	DET
ajfa-2165	166	7	garch	garch	NOUN
ajfa-2165	166	8	model	model	NOUN
ajfa-2165	166	9	in	in	ADP
ajfa-2165	166	10	handling	handle	VERB
ajfa-2165	166	11	financial	financial	ADJ
ajfa-2165	166	12	time	time	NOUN
ajfa-2165	166	13	series	series	PROPN
ajfa-2165	166	14	,	,	PUNCT
ajfa-2165	166	15	nelson	nelson	PROPN
ajfa-2165	166	16	’s	’s	PART
ajfa-2165	166	17	(	(	PUNCT
ajfa-2165	166	18	1991	1991	NUM
ajfa-2165	166	19	)	)	PUNCT
ajfa-2165	166	20	exponential	exponential	ADJ
ajfa-2165	166	21	garch	garch	NOUN
ajfa-2165	166	22	(	(	PUNCT
ajfa-2165	166	23	egarch	egarch	NOUN
ajfa-2165	166	24	)	)	PUNCT
ajfa-2165	166	25	model	model	NOUN
ajfa-2165	166	26	is	be	AUX
ajfa-2165	166	27	used	use	VERB
ajfa-2165	166	28	in	in	ADP
ajfa-2165	166	29	order	order	NOUN
ajfa-2165	166	30	to	to	PART
ajfa-2165	166	31	capture	capture	VERB
ajfa-2165	166	32	the	the	DET
ajfa-2165	166	33	asymmetric	asymmetric	ADJ
ajfa-2165	166	34	impacts	impact	NOUN
ajfa-2165	166	35	of	of	ADP
ajfa-2165	166	36	shocks	shock	NOUN
ajfa-2165	166	37	or	or	CCONJ
ajfa-2165	166	38	innovations	innovation	NOUN
ajfa-2165	166	39	on	on	ADP
ajfa-2165	166	40	volatilities	volatility	NOUN
ajfa-2165	166	41	and	and	CCONJ
ajfa-2165	166	42	to	to	PART
ajfa-2165	166	43	avoid	avoid	VERB
ajfa-2165	166	44	imposing	impose	VERB
ajfa-2165	166	45	non	non	ADJ
ajfa-2165	166	46	-	-	ADJ
ajfa-2165	166	47	negativity	negativity	ADJ
ajfa-2165	166	48	restrictions	restriction	NOUN
ajfa-2165	166	49	on	on	ADP
ajfa-2165	166	50	the	the	DET
ajfa-2165	166	51	values	value	NOUN
ajfa-2165	166	52	of	of	ADP
ajfa-2165	166	53	garch	garch	NOUN
ajfa-2165	166	54	parameters	parameter	NOUN
ajfa-2165	166	55	.	.	PUNCT
ajfa-2165	167	1	there	there	PRON
ajfa-2165	167	2	are	be	VERB
ajfa-2165	167	3	many	many	ADJ
ajfa-2165	167	4	studies	study	NOUN
ajfa-2165	167	5	in	in	ADP
ajfa-2165	167	6	which	which	PRON
ajfa-2165	167	7	symmetries	symmetry	NOUN
ajfa-2165	167	8	in	in	ADP
ajfa-2165	167	9	stock	stock	NOUN
ajfa-2165	167	10	return	return	NOUN
ajfa-2165	167	11	are	be	AUX
ajfa-2165	167	12	documented	document	VERB
ajfa-2165	167	13	[	[	PUNCT
ajfa-2165	167	14	e.g.	e.g.	ADV
ajfa-2165	167	15	,	,	PUNCT
ajfa-2165	167	16	nelson	nelson	PROPN
ajfa-2165	167	17	(	(	PUNCT
ajfa-2165	167	18	1991	1991	NUM
ajfa-2165	167	19	)	)	PUNCT
ajfa-2165	167	20	,	,	PUNCT
ajfa-2165	167	21	koutmos	koutmos	PROPN
ajfa-2165	167	22	and	and	CCONJ
ajfa-2165	167	23	booth	booth	NOUN
ajfa-2165	167	24	(	(	PUNCT
ajfa-2165	167	25	1995	1995	NUM
ajfa-2165	167	26	)	)	PUNCT
ajfa-2165	167	27	,	,	PUNCT
ajfa-2165	167	28	koutmos	koutmos	PROPN
ajfa-2165	167	29	and	and	CCONJ
ajfa-2165	167	30	tucker	tucker	PROPN
ajfa-2165	167	31	(	(	PUNCT
ajfa-2165	167	32	1996	1996	NUM
ajfa-2165	167	33	)	)	PUNCT
ajfa-2165	167	34	,	,	PUNCT
ajfa-2165	167	35	engle	engle	NOUN
ajfa-2165	167	36	and	and	CCONJ
ajfa-2165	167	37	ng	ng	PROPN
ajfa-2165	167	38	(	(	PUNCT
ajfa-2165	167	39	1993	1993	NUM
ajfa-2165	167	40	)	)	PUNCT
ajfa-2165	167	41	,	,	PUNCT
ajfa-2165	167	42	and	and	CCONJ
ajfa-2165	167	43	glosten	glosten	ADJ
ajfa-2165	167	44	et	et	PROPN
ajfa-2165	167	45	al	al	PROPN
ajfa-2165	167	46	.	.	PROPN
ajfa-2165	168	1	(	(	PUNCT
ajfa-2165	168	2	1993	1993	NUM
ajfa-2165	168	3	)	)	PUNCT
ajfa-2165	168	4	]	]	PUNCT
ajfa-2165	168	5	.	.	PUNCT
ajfa-2165	169	1	in	in	ADP
ajfa-2165	169	2	this	this	DET
ajfa-2165	169	3	study	study	NOUN
ajfa-2165	169	4	,	,	PUNCT
ajfa-2165	169	5	the	the	DET
ajfa-2165	169	6	estimation	estimation	NOUN
ajfa-2165	169	7	process	process	NOUN
ajfa-2165	169	8	is	be	AUX
ajfa-2165	169	9	concentrated	concentrate	VERB
ajfa-2165	169	10	on	on	ADP
ajfa-2165	169	11	the	the	DET
ajfa-2165	169	12	direct	direct	ADJ
ajfa-2165	169	13	spillover	spillover	NOUN
ajfa-2165	169	14	between	between	ADP
ajfa-2165	169	15	futures	future	NOUN
ajfa-2165	169	16	and	and	CCONJ
ajfa-2165	169	17	spot	spot	NOUN
ajfa-2165	169	18	markets	market	NOUN
ajfa-2165	169	19	volatility	volatility	NOUN
ajfa-2165	169	20	.	.	PUNCT
ajfa-2165	170	1	the	the	DET
ajfa-2165	170	2	empirical	empirical	ADJ
ajfa-2165	170	3	analysis	analysis	NOUN
ajfa-2165	170	4	reported	report	VERB
ajfa-2165	170	5	here	here	ADV
ajfa-2165	170	6	is	be	AUX
ajfa-2165	170	7	based	base	VERB
ajfa-2165	170	8	on	on	ADP
ajfa-2165	170	9	two	two	NUM
ajfa-2165	170	10	-	-	PUNCT
ajfa-2165	170	11	stage	stage	NOUN
ajfa-2165	170	12	estimation	estimation	NOUN
ajfa-2165	170	13	.	.	PUNCT
ajfa-2165	171	1	the	the	DET
ajfa-2165	171	2	first	first	ADJ
ajfa-2165	171	3	step	step	NOUN
ajfa-2165	171	4	is	be	AUX
ajfa-2165	171	5	to	to	PART
ajfa-2165	171	6	apply	apply	VERB
ajfa-2165	171	7	vecm	vecm	NOUN
ajfa-2165	171	8	and	and	CCONJ
ajfa-2165	171	9	the	the	DET
ajfa-2165	171	10	second	second	ADJ
ajfa-2165	171	11	step	step	NOUN
ajfa-2165	171	12	is	be	AUX
ajfa-2165	171	13	to	to	PART
ajfa-2165	171	14	use	use	VERB
ajfa-2165	171	15	the	the	DET
ajfa-2165	171	16	residuals	residual	NOUN
ajfa-2165	171	17	of	of	ADP
ajfa-2165	171	18	vecm	vecm	NOUN
ajfa-2165	171	19	in	in	ADP
ajfa-2165	171	20	the	the	DET
ajfa-2165	171	21	bivariate	bivariate	ADJ
ajfa-2165	171	22	egarch	egarch	NOUN
ajfa-2165	171	23	model	model	NOUN
ajfa-2165	171	24	.	.	PUNCT
ajfa-2165	172	1	this	this	DET
ajfa-2165	172	2	two	two	NUM
ajfa-2165	172	3	step	step	NOUN
ajfa-2165	172	4	approach	approach	NOUN
ajfa-2165	172	5	(	(	PUNCT
ajfa-2165	172	6	the	the	DET
ajfa-2165	172	7	first	first	ADJ
ajfa-2165	172	8	step	step	NOUN
ajfa-2165	172	9	for	for	ADP
ajfa-2165	172	10	the	the	DET
ajfa-2165	172	11	vecm	vecm	NOUN
ajfa-2165	172	12	and	and	CCONJ
ajfa-2165	172	13	the	the	DET
ajfa-2165	172	14	second	second	ADJ
ajfa-2165	172	15	step	step	NOUN
ajfa-2165	172	16	for	for	ADP
ajfa-2165	172	17	the	the	DET
ajfa-2165	172	18	bivariate	bivariate	ADJ
ajfa-2165	172	19	egarch	egarch	NOUN
ajfa-2165	172	20	model	model	NOUN
ajfa-2165	172	21	is	be	AUX
ajfa-2165	172	22	asymptotically	asymptotically	ADV
ajfa-2165	172	23	equivalent	equivalent	ADJ
ajfa-2165	172	24	to	to	ADP
ajfa-2165	172	25	a	a	DET
ajfa-2165	172	26	joint	joint	ADJ
ajfa-2165	172	27	estimation	estimation	NOUN
ajfa-2165	172	28	for	for	ADP
ajfa-2165	172	29	the	the	DET
ajfa-2165	172	30	vecm	vecm	NOUN
ajfa-2165	172	31	and	and	CCONJ
ajfa-2165	172	32	egarch	egarch	NOUN
ajfa-2165	172	33	models	model	NOUN
ajfa-2165	172	34	(	(	PUNCT
ajfa-2165	172	35	greene	greene	PROPN
ajfa-2165	172	36	,	,	PUNCT
ajfa-2165	172	37	1997	1997	NUM
ajfa-2165	172	38	)	)	PUNCT
ajfa-2165	172	39	.	.	PUNCT
ajfa-2165	173	1	estimating	estimate	VERB
ajfa-2165	173	2	these	these	DET
ajfa-2165	173	3	two	two	NUM
ajfa-2165	173	4	models	model	NOUN
ajfa-2165	173	5	simultaneously	simultaneously	ADV
ajfa-2165	173	6	in	in	ADP
ajfa-2165	173	7	one	one	NUM
ajfa-2165	173	8	step	step	NOUN
ajfa-2165	173	9	is	be	AUX
ajfa-2165	173	10	not	not	PART
ajfa-2165	173	11	practical	practical	ADJ
ajfa-2165	173	12	because	because	SCONJ
ajfa-2165	173	13	of	of	ADP
ajfa-2165	173	14	the	the	DET
ajfa-2165	173	15	large	large	ADJ
ajfa-2165	173	16	number	number	NOUN
ajfa-2165	173	17	of	of	ADP
ajfa-2165	173	18	parameters	parameter	NOUN
ajfa-2165	173	19	involved	involve	VERB
ajfa-2165	173	20	.	.	PUNCT
ajfa-2165	174	1	our	our	PRON
ajfa-2165	174	2	ec	ec	PROPN
ajfa-2165	174	3	-	-	PUNCT
ajfa-2165	174	4	egarch	egarch	NOUN
ajfa-2165	174	5	model	model	NOUN
ajfa-2165	174	6	allows	allow	VERB
ajfa-2165	174	7	the	the	DET
ajfa-2165	174	8	conditional	conditional	ADJ
ajfa-2165	174	9	volatilities	volatility	NOUN
ajfa-2165	174	10	and	and	CCONJ
ajfa-2165	174	11	covariance	covariance	NOUN
ajfa-2165	174	12	to	to	ADP
ajfa-2165	174	13	asian	asian	ADJ
ajfa-2165	174	14	journal	journal	NOUN
ajfa-2165	174	15	of	of	ADP
ajfa-2165	174	16	finance	finance	PROPN
ajfa-2165	174	17	&	&	CCONJ
ajfa-2165	174	18	accounting	accounting	PROPN
ajfa-2165	174	19	issn	issn	PROPN
ajfa-2165	174	20	1946	1946	NUM
ajfa-2165	174	21	-	-	PUNCT
ajfa-2165	174	22	052x	052x	NOUN
ajfa-2165	174	23	2013	2013	NUM
ajfa-2165	174	24	,	,	PUNCT
ajfa-2165	174	25	vol	vol	NOUN
ajfa-2165	174	26	.	.	PROPN
ajfa-2165	174	27	5	5	NUM
ajfa-2165	174	28	,	,	PUNCT
ajfa-2165	174	29	no	no	INTJ
ajfa-2165	174	30	.	.	NOUN
ajfa-2165	174	31	1	1	NUM
ajfa-2165	174	32	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	174	33	297	297	NUM
ajfa-2165	174	34	adjust	adjust	VERB
ajfa-2165	174	35	to	to	ADP
ajfa-2165	174	36	deviations	deviation	NOUN
ajfa-2165	174	37	from	from	ADP
ajfa-2165	174	38	long	long	ADV
ajfa-2165	174	39	-	-	PUNCT
ajfa-2165	174	40	run	run	VERB
ajfa-2165	174	41	price	price	NOUN
ajfa-2165	174	42	disequilibria	disequilibria	NOUN
ajfa-2165	174	43	,	,	PUNCT
ajfa-2165	174	44	whereas	whereas	SCONJ
ajfa-2165	174	45	traditional	traditional	ADJ
ajfa-2165	174	46	egarch	egarch	NOUN
ajfa-2165	174	47	models	model	NOUN
ajfa-2165	174	48	do	do	VERB
ajfa-2165	174	49	not	not	PART
ajfa-2165	174	50	.	.	PUNCT
ajfa-2165	175	1	as	as	ADP
ajfa-2165	175	2	such	such	ADJ
ajfa-2165	175	3	,	,	PUNCT
ajfa-2165	175	4	the	the	DET
ajfa-2165	175	5	model	model	NOUN
ajfa-2165	175	6	facilitates	facilitate	VERB
ajfa-2165	175	7	the	the	DET
ajfa-2165	175	8	testing	testing	NOUN
ajfa-2165	175	9	of	of	ADP
ajfa-2165	175	10	both	both	DET
ajfa-2165	175	11	short	short	ADJ
ajfa-2165	175	12	run	run	NOUN
ajfa-2165	175	13	and	and	CCONJ
ajfa-2165	175	14	long	long	ADJ
ajfa-2165	175	15	run	run	NOUN
ajfa-2165	175	16	volatility	volatility	NOUN
ajfa-2165	175	17	spillovers	spillover	NOUN
ajfa-2165	175	18	hypotheses	hypothesis	NOUN
ajfa-2165	175	19	.	.	PUNCT
ajfa-2165	176	1	the	the	DET
ajfa-2165	176	2	ec	ec	PROPN
ajfa-2165	176	3	-	-	PUNCT
ajfa-2165	176	4	egarch	egarch	NOUN
ajfa-2165	176	5	model	model	NOUN
ajfa-2165	176	6	may	may	AUX
ajfa-2165	176	7	further	far	ADV
ajfa-2165	176	8	prove	prove	VERB
ajfa-2165	176	9	useful	useful	ADJ
ajfa-2165	176	10	for	for	ADP
ajfa-2165	176	11	portfolio	portfolio	NOUN
ajfa-2165	176	12	managers	manager	NOUN
ajfa-2165	176	13	in	in	ADP
ajfa-2165	176	14	formulating	formulate	VERB
ajfa-2165	176	15	optimal	optimal	ADJ
ajfa-2165	176	16	hedging	hedging	NOUN
ajfa-2165	176	17	strategies	strategy	NOUN
ajfa-2165	176	18	.	.	PUNCT
ajfa-2165	177	1	some	some	DET
ajfa-2165	177	2	studies	study	NOUN
ajfa-2165	177	3	e.g.	e.g.	ADV
ajfa-2165	177	4	,	,	PUNCT
ajfa-2165	177	5	yang	yang	PROPN
ajfa-2165	177	6	,	,	PUNCT
ajfa-2165	177	7	bessler	bessler	NOUN
ajfa-2165	177	8	,	,	PUNCT
ajfa-2165	177	9	and	and	CCONJ
ajfa-2165	177	10	leatham	leatham	PROPN
ajfa-2165	177	11	(	(	PUNCT
ajfa-2165	177	12	2001	2001	NUM
ajfa-2165	177	13	)	)	PUNCT
ajfa-2165	177	14	emphasize	emphasize	VERB
ajfa-2165	177	15	the	the	DET
ajfa-2165	177	16	need	need	NOUN
ajfa-2165	177	17	to	to	PART
ajfa-2165	177	18	incorporate	incorporate	VERB
ajfa-2165	177	19	any	any	DET
ajfa-2165	177	20	existing	exist	VERB
ajfa-2165	177	21	cointegration	cointegration	NOUN
ajfa-2165	177	22	between	between	ADP
ajfa-2165	177	23	spot	spot	NOUN
ajfa-2165	177	24	and	and	CCONJ
ajfa-2165	177	25	futures	future	NOUN
ajfa-2165	177	26	prices	price	NOUN
ajfa-2165	177	27	into	into	ADP
ajfa-2165	177	28	hedging	hedging	NOUN
ajfa-2165	177	29	decisions	decision	NOUN
ajfa-2165	177	30	,	,	PUNCT
ajfa-2165	177	31	while	while	SCONJ
ajfa-2165	177	32	others	other	NOUN
ajfa-2165	177	33	such	such	ADJ
ajfa-2165	177	34	as	as	ADP
ajfa-2165	177	35	lien	lien	NOUN
ajfa-2165	177	36	and	and	CCONJ
ajfa-2165	177	37	lou	lou	PROPN
ajfa-2165	177	38	(	(	PUNCT
ajfa-2165	177	39	1994	1994	NUM
ajfa-2165	177	40	)	)	PUNCT
ajfa-2165	177	41	underscore	underscore	VERB
ajfa-2165	177	42	the	the	DET
ajfa-2165	177	43	importance	importance	NOUN
ajfa-2165	177	44	of	of	ADP
ajfa-2165	177	45	garch	garch	NOUN
ajfa-2165	177	46	effects	effect	NOUN
ajfa-2165	177	47	in	in	ADP
ajfa-2165	177	48	such	such	ADJ
ajfa-2165	177	49	decisions	decision	NOUN
ajfa-2165	177	50	.	.	PUNCT
ajfa-2165	178	1	we	we	PRON
ajfa-2165	178	2	use	use	VERB
ajfa-2165	178	3	the	the	DET
ajfa-2165	178	4	following	follow	VERB
ajfa-2165	178	5	egarch	egarch	NOUN
ajfa-2165	178	6	model	model	NOUN
ajfa-2165	178	7	)	)	PUNCT
ajfa-2165	178	8	(	(	PUNCT
ajfa-2165	178	9	)	)	PUNCT
ajfa-2165	178	10	(	(	PUNCT
ajfa-2165	178	11	)	)	PUNCT
ajfa-2165	178	12	(	(	PUNCT
ajfa-2165	178	13	)	)	PUNCT
ajfa-2165	179	1	ln	ln	ADJ
ajfa-2165	179	2	(	(	PUNCT
ajfa-2165	179	3	1	1	NUM
ajfa-2165	179	4	2	2	NUM
ajfa-2165	179	5	1	1	NUM
ajfa-2165	179	6	2	2	NUM
ajfa-2165	179	7	1	1	NUM
ajfa-2165	179	8	22	22	NUM
ajfa-2165	179	9			NOUN
ajfa-2165	179	10			NOUN
ajfa-2165	179	11	tftfstffft	tftfstffft	NOUN
ajfa-2165	179	12	fsefe	fsefe	VERB
ajfa-2165	179	13			PROPN
ajfa-2165	179	14	(	(	PUNCT
ajfa-2165	179	15	5	5	NUM
ajfa-2165	179	16	)	)	PUNCT
ajfa-2165	179	17	)	)	PUNCT
ajfa-2165	179	18	(	(	PUNCT
ajfa-2165	179	19	)	)	PUNCT
ajfa-2165	179	20	(	(	PUNCT
ajfa-2165	179	21	)	)	PUNCT
ajfa-2165	179	22	(	(	PUNCT
ajfa-2165	179	23	)	)	PUNCT
ajfa-2165	179	24	ln	ln	ADJ
ajfa-2165	179	25	(	(	PUNCT
ajfa-2165	179	26	1	1	NUM
ajfa-2165	179	27	2	2	NUM
ajfa-2165	179	28	1	1	NUM
ajfa-2165	179	29	2	2	NUM
ajfa-2165	179	30	1	1	NUM
ajfa-2165	179	31	22	22	NUM
ajfa-2165	179	32			NOUN
ajfa-2165	179	33			NOUN
ajfa-2165	179	34	tftsftssst	tftsftssst	VERB
ajfa-2165	179	35	sfese	sfese	ADJ
ajfa-2165	179	36			PROPN
ajfa-2165	179	37	(	(	PUNCT
ajfa-2165	179	38	6	6	NUM
ajfa-2165	179	39	)	)	PUNCT
ajfa-2165	179	40	the	the	DET
ajfa-2165	179	41	unrelated	unrelated	ADJ
ajfa-2165	179	42	residuals	residual	NOUN
ajfa-2165	179	43	eft	eft	PROPN
ajfa-2165	179	44	and	and	CCONJ
ajfa-2165	179	45	est	est	NOUN
ajfa-2165	179	46	are	be	AUX
ajfa-2165	179	47	obtained	obtain	VERB
ajfa-2165	179	48	from	from	ADP
ajfa-2165	179	49	the	the	DET
ajfa-2165	179	50	equations	equation	NOUN
ajfa-2165	179	51	(	(	PUNCT
ajfa-2165	179	52	3	3	NUM
ajfa-2165	179	53	)	)	PUNCT
ajfa-2165	179	54	and	and	CCONJ
ajfa-2165	179	55	(	(	PUNCT
ajfa-2165	179	56	4	4	NUM
ajfa-2165	179	57	)	)	PUNCT
ajfa-2165	179	58	.	.	PUNCT
ajfa-2165	180	1	this	this	DET
ajfa-2165	180	2	two	two	NUM
ajfa-2165	180	3	step	step	NOUN
ajfa-2165	180	4	approach	approach	NOUN
ajfa-2165	180	5	(	(	PUNCT
ajfa-2165	180	6	the	the	DET
ajfa-2165	180	7	first	first	ADJ
ajfa-2165	180	8	step	step	NOUN
ajfa-2165	180	9	for	for	ADP
ajfa-2165	180	10	the	the	DET
ajfa-2165	180	11	vecm	vecm	NOUN
ajfa-2165	180	12	and	and	CCONJ
ajfa-2165	180	13	the	the	DET
ajfa-2165	180	14	second	second	ADJ
ajfa-2165	180	15	step	step	NOUN
ajfa-2165	180	16	for	for	ADP
ajfa-2165	180	17	the	the	DET
ajfa-2165	180	18	bivariate	bivariate	ADJ
ajfa-2165	180	19	egarch	egarch	NOUN
ajfa-2165	180	20	model	model	NOUN
ajfa-2165	180	21	is	be	AUX
ajfa-2165	180	22	asymptotically	asymptotically	ADV
ajfa-2165	180	23	equivalent	equivalent	ADJ
ajfa-2165	180	24	to	to	ADP
ajfa-2165	180	25	a	a	DET
ajfa-2165	180	26	joint	joint	ADJ
ajfa-2165	180	27	estimation	estimation	NOUN
ajfa-2165	180	28	for	for	ADP
ajfa-2165	180	29	the	the	DET
ajfa-2165	180	30	vecm	vecm	NOUN
ajfa-2165	180	31	and	and	CCONJ
ajfa-2165	180	32	egarch	egarch	NOUN
ajfa-2165	180	33	models	model	NOUN
ajfa-2165	180	34	(	(	PUNCT
ajfa-2165	180	35	greene	greene	PROPN
ajfa-2165	180	36	,	,	PUNCT
ajfa-2165	180	37	1997	1997	NUM
ajfa-2165	180	38	)	)	PUNCT
ajfa-2165	180	39	.	.	PUNCT
ajfa-2165	181	1	before	before	ADP
ajfa-2165	181	2	estimating	estimate	VERB
ajfa-2165	181	3	the	the	DET
ajfa-2165	181	4	egarch	egarch	NOUN
ajfa-2165	181	5	model	model	NOUN
ajfa-2165	181	6	,	,	PUNCT
ajfa-2165	181	7	it	it	PRON
ajfa-2165	181	8	is	be	AUX
ajfa-2165	181	9	necessary	necessary	ADJ
ajfa-2165	181	10	to	to	PART
ajfa-2165	181	11	check	check	VERB
ajfa-2165	181	12	the	the	DET
ajfa-2165	181	13	model	model	NOUN
ajfa-2165	181	14	adequacy	adequacy	NOUN
ajfa-2165	181	15	by	by	ADP
ajfa-2165	181	16	performing	perform	VERB
ajfa-2165	181	17	the	the	DET
ajfa-2165	181	18	diagnostic	diagnostic	ADJ
ajfa-2165	181	19	tests	test	NOUN
ajfa-2165	181	20	that	that	PRON
ajfa-2165	181	21	involve	involve	VERB
ajfa-2165	181	22	serial	serial	ADJ
ajfa-2165	181	23	correlation	correlation	NOUN
ajfa-2165	181	24	,	,	PUNCT
ajfa-2165	181	25	normally	normally	ADV
ajfa-2165	181	26	distributed	distribute	VERB
ajfa-2165	181	27	error	error	NOUN
ajfa-2165	181	28	and	and	CCONJ
ajfa-2165	181	29	goodness	goodness	NOUN
ajfa-2165	181	30	of	of	ADP
ajfa-2165	181	31	fit	fit	ADJ
ajfa-2165	181	32	measures	measure	NOUN
ajfa-2165	181	33	.	.	PUNCT
ajfa-2165	182	1	hence	hence	ADV
ajfa-2165	182	2	we	we	PRON
ajfa-2165	182	3	check	check	VERB
ajfa-2165	182	4	the	the	DET
ajfa-2165	182	5	model	model	NOUN
ajfa-2165	182	6	adequacy	adequacy	NOUN
ajfa-2165	182	7	test	test	NOUN
ajfa-2165	182	8	by	by	ADP
ajfa-2165	182	9	testing	test	VERB
ajfa-2165	182	10	auto	auto	NOUN
ajfa-2165	182	11	correlation	correlation	NOUN
ajfa-2165	182	12	lm	lm	X
ajfa-2165	182	13	test	test	NOUN
ajfa-2165	182	14	,	,	PUNCT
ajfa-2165	182	15	normality	normality	NOUN
ajfa-2165	182	16	test	test	NOUN
ajfa-2165	182	17	and	and	CCONJ
ajfa-2165	182	18	var	var	PROPN
ajfa-2165	182	19	stability	stability	NOUN
ajfa-2165	182	20	condition	condition	NOUN
ajfa-2165	182	21	test	test	NOUN
ajfa-2165	182	22	(	(	PUNCT
ajfa-2165	182	23	ar	ar	NOUN
ajfa-2165	182	24	roots	root	NOUN
ajfa-2165	182	25	)	)	PUNCT
ajfa-2165	182	26	.	.	PUNCT
ajfa-2165	183	1	analysis	analysis	NOUN
ajfa-2165	183	2	and	and	CCONJ
ajfa-2165	183	3	interpretation	interpretation	NOUN
ajfa-2165	183	4	of	of	ADP
ajfa-2165	183	5	results	result	NOUN
ajfa-2165	183	6	the	the	DET
ajfa-2165	183	7	results	result	NOUN
ajfa-2165	183	8	of	of	ADP
ajfa-2165	183	9	stationarity	stationarity	NOUN
ajfa-2165	183	10	tests	test	NOUN
ajfa-2165	183	11	are	be	AUX
ajfa-2165	183	12	given	give	VERB
ajfa-2165	183	13	in	in	ADP
ajfa-2165	183	14	table	table	NOUN
ajfa-2165	183	15	1	1	NUM
ajfa-2165	183	16	.	.	PUNCT
ajfa-2165	184	1	it	it	PRON
ajfa-2165	184	2	confirms	confirm	VERB
ajfa-2165	184	3	non	non	ADJ
ajfa-2165	184	4	stationarity	stationarity	NOUN
ajfa-2165	184	5	of	of	ADP
ajfa-2165	184	6	stock	stock	NOUN
ajfa-2165	184	7	price	price	NOUN
ajfa-2165	184	8	data	datum	NOUN
ajfa-2165	184	9	;	;	PUNCT
ajfa-2165	184	10	hence	hence	ADV
ajfa-2165	184	11	we	we	PRON
ajfa-2165	184	12	repeat	repeat	VERB
ajfa-2165	184	13	stationarity	stationarity	NOUN
ajfa-2165	184	14	tests	test	NOUN
ajfa-2165	184	15	on	on	ADP
ajfa-2165	184	16	return	return	NOUN
ajfa-2165	184	17	series	series	NOUN
ajfa-2165	184	18	(	(	PUNCT
ajfa-2165	184	19	estimated	estimate	VERB
ajfa-2165	184	20	as	as	ADP
ajfa-2165	184	21	first	first	ADJ
ajfa-2165	184	22	difference	difference	NOUN
ajfa-2165	184	23	of	of	ADP
ajfa-2165	184	24	log	log	NOUN
ajfa-2165	184	25	prices	price	NOUN
ajfa-2165	184	26	)	)	PUNCT
ajfa-2165	184	27	which	which	PRON
ajfa-2165	184	28	are	be	AUX
ajfa-2165	184	29	also	also	ADV
ajfa-2165	184	30	provided	provide	VERB
ajfa-2165	184	31	in	in	ADP
ajfa-2165	184	32	table	table	NOUN
ajfa-2165	184	33	1	1	NUM
ajfa-2165	184	34	.	.	PUNCT
ajfa-2165	185	1	the	the	DET
ajfa-2165	185	2	table	table	NOUN
ajfa-2165	185	3	describes	describe	VERB
ajfa-2165	185	4	the	the	DET
ajfa-2165	185	5	sample	sample	NOUN
ajfa-2165	185	6	price	price	NOUN
ajfa-2165	185	7	series	series	NOUN
ajfa-2165	185	8	that	that	PRON
ajfa-2165	185	9	have	have	AUX
ajfa-2165	185	10	been	be	AUX
ajfa-2165	185	11	tested	test	VERB
ajfa-2165	185	12	using	use	VERB
ajfa-2165	185	13	augmented	augment	VERB
ajfa-2165	185	14	dickey	dickey	PROPN
ajfa-2165	185	15	fuller	full	ADJ
ajfa-2165	185	16	(	(	PUNCT
ajfa-2165	185	17	adf	adf	NOUN
ajfa-2165	185	18	)	)	PUNCT
ajfa-2165	185	19	1981	1981	NUM
ajfa-2165	185	20	.	.	PUNCT
ajfa-2165	186	1	the	the	DET
ajfa-2165	186	2	adf	adf	PROPN
ajfa-2165	186	3	test	test	NOUN
ajfa-2165	186	4	uses	use	VERB
ajfa-2165	186	5	the	the	DET
ajfa-2165	186	6	existence	existence	NOUN
ajfa-2165	186	7	of	of	ADP
ajfa-2165	186	8	a	a	DET
ajfa-2165	186	9	unit	unit	NOUN
ajfa-2165	186	10	root	root	NOUN
ajfa-2165	186	11	as	as	ADP
ajfa-2165	186	12	the	the	DET
ajfa-2165	186	13	null	null	ADJ
ajfa-2165	186	14	hypothesis	hypothesis	NOUN
ajfa-2165	186	15	.	.	PUNCT
ajfa-2165	187	1	to	to	PART
ajfa-2165	187	2	double	double	VERB
ajfa-2165	187	3	check	check	VERB
ajfa-2165	187	4	the	the	DET
ajfa-2165	187	5	robustness	robustness	NOUN
ajfa-2165	187	6	of	of	ADP
ajfa-2165	187	7	the	the	DET
ajfa-2165	187	8	results	result	NOUN
ajfa-2165	187	9	,	,	PUNCT
ajfa-2165	187	10	phillips	phillip	NOUN
ajfa-2165	187	11	and	and	CCONJ
ajfa-2165	187	12	perron	perron	PROPN
ajfa-2165	187	13	(	(	PUNCT
ajfa-2165	187	14	1988	1988	NUM
ajfa-2165	187	15	)	)	PUNCT
ajfa-2165	187	16	test	test	NOUN
ajfa-2165	187	17	of	of	ADP
ajfa-2165	187	18	stationarity	stationarity	NOUN
ajfa-2165	187	19	has	have	AUX
ajfa-2165	187	20	also	also	ADV
ajfa-2165	187	21	been	be	AUX
ajfa-2165	187	22	performed	perform	VERB
ajfa-2165	187	23	for	for	ADP
ajfa-2165	187	24	the	the	DET
ajfa-2165	187	25	price	price	NOUN
ajfa-2165	187	26	series	series	NOUN
ajfa-2165	187	27	and	and	CCONJ
ajfa-2165	187	28	then	then	ADV
ajfa-2165	187	29	both	both	CCONJ
ajfa-2165	187	30	the	the	DET
ajfa-2165	187	31	test	test	NOUN
ajfa-2165	187	32	are	be	AUX
ajfa-2165	187	33	performed	perform	VERB
ajfa-2165	187	34	on	on	ADP
ajfa-2165	187	35	return	return	NOUN
ajfa-2165	187	36	series	series	NOUN
ajfa-2165	187	37	.	.	PUNCT
ajfa-2165	188	1	panel	panel	NOUN
ajfa-2165	188	2	a	a	DET
ajfa-2165	188	3	and	and	CCONJ
ajfa-2165	188	4	panel	panel	NOUN
ajfa-2165	188	5	b	b	PROPN
ajfa-2165	188	6	report	report	NOUN
ajfa-2165	188	7	results	result	NOUN
ajfa-2165	188	8	of	of	ADP
ajfa-2165	188	9	stock	stock	NOUN
ajfa-2165	188	10	prices	price	NOUN
ajfa-2165	188	11	respectively	respectively	ADV
ajfa-2165	188	12	.	.	PUNCT
ajfa-2165	189	1	the	the	DET
ajfa-2165	189	2	sample	sample	NOUN
ajfa-2165	189	3	return	return	NOUN
ajfa-2165	189	4	series	series	NOUN
ajfa-2165	189	5	exhibit	exhibit	VERB
ajfa-2165	189	6	stationarity	stationarity	NOUN
ajfa-2165	189	7	thus	thus	ADV
ajfa-2165	189	8	conforming	conform	VERB
ajfa-2165	189	9	that	that	SCONJ
ajfa-2165	189	10	both	both	DET
ajfa-2165	189	11	spot	spot	NOUN
ajfa-2165	189	12	and	and	CCONJ
ajfa-2165	189	13	future	future	ADJ
ajfa-2165	189	14	stock	stock	NOUN
ajfa-2165	189	15	prices	price	NOUN
ajfa-2165	189	16	are	be	AUX
ajfa-2165	189	17	integrated	integrate	VERB
ajfa-2165	189	18	to	to	ADP
ajfa-2165	189	19	the	the	DET
ajfa-2165	189	20	first	first	ADJ
ajfa-2165	189	21	order	order	NOUN
ajfa-2165	189	22	.	.	PUNCT
ajfa-2165	190	1	asian	asian	ADJ
ajfa-2165	190	2	journal	journal	PROPN
ajfa-2165	190	3	of	of	ADP
ajfa-2165	190	4	finance	finance	PROPN
ajfa-2165	190	5	&	&	CCONJ
ajfa-2165	190	6	accounting	accounting	PROPN
ajfa-2165	190	7	issn	issn	PROPN
ajfa-2165	190	8	1946	1946	NUM
ajfa-2165	190	9	-	-	PUNCT
ajfa-2165	190	10	052x	052x	NOUN
ajfa-2165	190	11	2013	2013	NUM
ajfa-2165	190	12	,	,	PUNCT
ajfa-2165	190	13	vol	vol	NOUN
ajfa-2165	190	14	.	.	PROPN
ajfa-2165	190	15	5	5	NUM
ajfa-2165	190	16	,	,	PUNCT
ajfa-2165	190	17	no	no	INTJ
ajfa-2165	190	18	.	.	NOUN
ajfa-2165	190	19	1	1	NUM
ajfa-2165	190	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-2165	190	21	298	298	NUM
ajfa-2165	190	22	table	table	NOUN
ajfa-2165	190	23	1	1	NUM
ajfa-2165	190	24	.	.	PUNCT
ajfa-2165	190	25	stationarity	stationarity	NOUN
ajfa-2165	190	26	test	test	NOUN
ajfa-2165	190	27	for	for	ADP
ajfa-2165	190	28	sample	sample	NOUN
ajfa-2165	190	29	series	series	NOUN
ajfa-2165	190	30	priceseries	priceserie	VERB
ajfa-2165	190	31	inference	inference	NOUN
ajfa-2165	190	32	on	on	ADP
ajfa-2165	190	33	return	return	NOUN
ajfa-2165	190	34	series	series	NOUN
ajfa-2165	190	35	integration	integration	NOUN
ajfa-2165	190	36	i	i	PRON
ajfa-2165	190	37	(	(	PUNCT
ajfa-2165	190	38	i	i	NOUN
ajfa-2165	190	39	)	)	PUNCT
ajfa-2165	190	40	adf	adf	PROPN
ajfa-2165	190	41	test	test	NOUN
ajfa-2165	190	42	phillips	phillips	PROPN
ajfa-2165	190	43	-	-	PUNCT
ajfa-2165	190	44	perron	perron	PROPN
ajfa-2165	190	45	test	test	NOUN
ajfa-2165	190	46	adf	adf	PROPN
ajfa-2165	190	47	test	test	PROPN
ajfa-2165	190	48	phillips	phillips	PROPN
ajfa-2165	190	49	-	-	PUNCT
ajfa-2165	190	50	perron	perron	PROPN
ajfa-2165	190	51	test	test	NOUN
ajfa-2165	190	52	t	t	PROPN
ajfa-2165	190	53	-	-	PUNCT
ajfa-2165	190	54	statistics	statistic	NOUN
ajfa-2165	190	55	t	t	PROPN
ajfa-2165	190	56	-	-	PUNCT
ajfa-2165	190	57	statistics	statistic	NOUN
ajfa-2165	190	58	t	t	PROPN
ajfa-2165	190	59	-	-	PUNCT
ajfa-2165	190	60	statistics	statistic	NOUN
ajfa-2165	190	61	t	t	PROPN
ajfa-2165	190	62	-	-	PUNCT
ajfa-2165	190	63	statistics	statistic	NOUN
ajfa-2165	190	64	nifty	nifty	ADJ
ajfa-2165	190	65	(	(	PUNCT
ajfa-2165	190	66	a)future	a)future	NOUN
ajfa-2165	190	67	prices	price	NOUN
ajfa-2165	190	68	-1.09	-1.09	VERB
ajfa-2165	190	69	-0.51	-0.51	INTJ
ajfa-2165	190	70	-41.98	-41.98	PUNCT
ajfa-2165	190	71	*	*	PUNCT
ajfa-2165	190	72	*	*	PUNCT
ajfa-2165	190	73	-41.98	-41.98	PUNCT
ajfa-2165	190	74	*	*	PUNCT
ajfa-2165	190	75	*	*	PUNCT
ajfa-2165	190	76	(	(	PUNCT
ajfa-2165	190	77	b	b	NOUN
ajfa-2165	190	78	)	)	PUNCT
ajfa-2165	190	79	spot	spot	NOUN
ajfa-2165	190	80	prices	price	NOUN
ajfa-2165	190	81	1.12	1.12	NUM
ajfa-2165	190	82	-1.38	-1.38	NUM
ajfa-2165	190	83	-41.35	-41.35	PROPN
ajfa-2165	190	84	*	*	PUNCT
ajfa-2165	190	85	*	*	PUNCT
ajfa-2165	190	86	-41.32	-41.32	PUNCT
ajfa-2165	191	1	*	*	PUNCT
ajfa-2165	191	2	*	*	PUNCT
ajfa-2165	191	3	the	the	DET
ajfa-2165	191	4	table	table	NOUN
ajfa-2165	191	5	describes	describe	VERB
ajfa-2165	191	6	the	the	DET
ajfa-2165	191	7	sample	sample	NOUN
ajfa-2165	191	8	price	price	NOUN
ajfa-2165	191	9	series	series	NOUN
ajfa-2165	191	10	that	that	PRON
ajfa-2165	191	11	have	have	AUX
ajfa-2165	191	12	been	be	AUX
ajfa-2165	191	13	tested	test	VERB
ajfa-2165	191	14	using	use	VERB
ajfa-2165	191	15	augmented	augment	VERB
ajfa-2165	191	16	dickey	dickey	PROPN
ajfa-2165	191	17	fuller	full	ADJ
ajfa-2165	191	18	(	(	PUNCT
ajfa-2165	191	19	adf	adf	NOUN
ajfa-2165	191	20	)	)	PUNCT
ajfa-2165	191	21	1981	1981	NUM
ajfa-2165	191	22	.	.	PUNCT
ajfa-2165	192	1	the	the	DET
ajfa-2165	192	2	adf	adf	PROPN
ajfa-2165	192	3	test	test	NOUN
ajfa-2165	192	4	uses	use	VERB
ajfa-2165	192	5	the	the	DET
ajfa-2165	192	6	existence	existence	NOUN
ajfa-2165	192	7	of	of	ADP
ajfa-2165	192	8	a	a	DET
ajfa-2165	192	9	unit	unit	NOUN
ajfa-2165	192	10	root	root	NOUN
ajfa-2165	192	11	as	as	ADP
ajfa-2165	192	12	the	the	DET
ajfa-2165	192	13	null	null	ADJ
ajfa-2165	192	14	hypothesis	hypothesis	NOUN
ajfa-2165	192	15	.	.	PUNCT
ajfa-2165	193	1	to	to	PART
ajfa-2165	193	2	double	double	VERB
ajfa-2165	193	3	check	check	VERB
ajfa-2165	193	4	the	the	DET
ajfa-2165	193	5	robustness	robustness	NOUN
ajfa-2165	193	6	of	of	ADP
ajfa-2165	193	7	the	the	DET
ajfa-2165	193	8	results	result	NOUN
ajfa-2165	193	9	,	,	PUNCT
ajfa-2165	193	10	phillips	phillip	NOUN
ajfa-2165	193	11	and	and	CCONJ
ajfa-2165	193	12	perron	perron	PROPN
ajfa-2165	193	13	(	(	PUNCT
ajfa-2165	193	14	1988	1988	NUM
ajfa-2165	193	15	)	)	PUNCT
ajfa-2165	193	16	test	test	NOUN
ajfa-2165	193	17	of	of	ADP
ajfa-2165	193	18	stationarity	stationarity	NOUN
ajfa-2165	193	19	has	have	AUX
ajfa-2165	193	20	also	also	ADV
ajfa-2165	193	21	been	be	AUX
ajfa-2165	193	22	performed	perform	VERB
ajfa-2165	193	23	for	for	ADP
ajfa-2165	193	24	the	the	DET
ajfa-2165	193	25	price	price	NOUN
ajfa-2165	193	26	series	series	NOUN
ajfa-2165	193	27	and	and	CCONJ
ajfa-2165	193	28	then	then	ADV
ajfa-2165	193	29	both	both	CCONJ
ajfa-2165	193	30	the	the	DET
ajfa-2165	193	31	test	test	NOUN
ajfa-2165	193	32	are	be	AUX
ajfa-2165	193	33	performed	perform	VERB
ajfa-2165	193	34	on	on	ADP
ajfa-2165	193	35	return	return	NOUN
ajfa-2165	193	36	series	series	NOUN
ajfa-2165	193	37	also	also	ADV
ajfa-2165	193	38	as	as	SCONJ
ajfa-2165	193	39	shown	show	VERB
ajfa-2165	193	40	in	in	ADP
ajfa-2165	193	41	panel	panel	NOUN
ajfa-2165	193	42	-	-	PUNCT
ajfa-2165	193	43	a	a	DET
ajfa-2165	193	44	(	(	PUNCT
ajfa-2165	193	45	price	price	NOUN
ajfa-2165	193	46	series	series	NOUN
ajfa-2165	193	47	)	)	PUNCT
ajfa-2165	193	48	and	and	CCONJ
ajfa-2165	193	49	panel	panel	NOUN
ajfa-2165	193	50	b	b	PROPN
ajfa-2165	193	51	(	(	PUNCT
ajfa-2165	193	52	return	return	NOUN
ajfa-2165	193	53	series	series	NOUN
ajfa-2165	193	54	)	)	PUNCT
ajfa-2165	193	55	are	be	AUX
ajfa-2165	193	56	integrated	integrate	VERB
ajfa-2165	193	57	to	to	ADP
ajfa-2165	193	58	i(1	i(1	PROPN
ajfa-2165	193	59	)	)	PUNCT
ajfa-2165	193	60	.	.	PUNCT
ajfa-2165	194	1	all	all	DET
ajfa-2165	194	2	tests	test	NOUN
ajfa-2165	194	3	are	be	AUX
ajfa-2165	194	4	performed	perform	VERB
ajfa-2165	194	5	using	use	VERB
ajfa-2165	194	6	5%level	5%level	NUM
ajfa-2165	194	7	of	of	ADP
ajfa-2165	194	8	significance	significance	NOUN
ajfa-2165	194	9	(	(	PUNCT
ajfa-2165	194	10	*	*	NOUN
ajfa-2165	194	11	*	*	NOUN
ajfa-2165	194	12	)	)	PUNCT
ajfa-2165	194	13	.	.	PUNCT
ajfa-2165	195	1	before	before	ADP
ajfa-2165	195	2	estimating	estimate	VERB
ajfa-2165	195	3	the	the	DET
ajfa-2165	195	4	egarch	egarch	NOUN
ajfa-2165	195	5	model	model	NOUN
ajfa-2165	195	6	,	,	PUNCT
ajfa-2165	195	7	it	it	PRON
ajfa-2165	195	8	is	be	AUX
ajfa-2165	195	9	necessary	necessary	ADJ
ajfa-2165	195	10	to	to	PART
ajfa-2165	195	11	check	check	VERB
ajfa-2165	195	12	the	the	DET
ajfa-2165	195	13	model	model	NOUN
ajfa-2165	195	14	adequacy	adequacy	NOUN
ajfa-2165	195	15	by	by	ADP
ajfa-2165	195	16	performing	perform	VERB
ajfa-2165	195	17	the	the	DET
ajfa-2165	195	18	diagnostic	diagnostic	ADJ
ajfa-2165	195	19	tests	test	NOUN
ajfa-2165	195	20	that	that	PRON
ajfa-2165	195	21	involve	involve	VERB
ajfa-2165	195	22	serial	serial	ADJ
ajfa-2165	195	23	correlation	correlation	NOUN
ajfa-2165	195	24	,	,	PUNCT
ajfa-2165	195	25	normally	normally	ADV
ajfa-2165	195	26	distributed	distribute	VERB
ajfa-2165	195	27	error	error	NOUN
ajfa-2165	195	28	and	and	CCONJ
ajfa-2165	195	29	goodness	goodness	NOUN
ajfa-2165	195	30	of	of	ADP
ajfa-2165	195	31	fit	fit	ADJ
ajfa-2165	195	32	measures	measure	NOUN
ajfa-2165	195	33	.	.	PUNCT
ajfa-2165	196	1	all	all	DET
ajfa-2165	196	2	diagnostic	diagnostic	ADJ
ajfa-2165	196	3	tests	test	NOUN
ajfa-2165	196	4	are	be	AUX
ajfa-2165	196	5	primarily	primarily	ADV
ajfa-2165	196	6	carried	carry	VERB
ajfa-2165	196	7	on	on	ADP
ajfa-2165	196	8	the	the	DET
ajfa-2165	196	9	standardized	standardized	ADJ
ajfa-2165	196	10	residuals	residual	NOUN
ajfa-2165	196	11	via	via	ADP
ajfa-2165	196	12	ols	ol	NOUN
ajfa-2165	196	13	and	and	CCONJ
ajfa-2165	196	14	it	it	PRON
ajfa-2165	196	15	is	be	AUX
ajfa-2165	196	16	found	find	VERB
ajfa-2165	196	17	that	that	SCONJ
ajfa-2165	196	18	all	all	PRON
ajfa-2165	196	19	are	be	AUX
ajfa-2165	196	20	significant	significant	ADJ
ajfa-2165	196	21	at	at	ADP
ajfa-2165	196	22	5	5	NUM
ajfa-2165	196	23	%	%	NOUN
ajfa-2165	196	24	level	level	NOUN
ajfa-2165	196	25	.	.	PUNCT
ajfa-2165	197	1	the	the	DET
ajfa-2165	197	2	diagnostic	diagnostic	ADJ
ajfa-2165	197	3	statistics	statistic	NOUN
ajfa-2165	197	4	with	with	ADP
ajfa-2165	197	5	respect	respect	NOUN
ajfa-2165	197	6	to	to	ADP
ajfa-2165	197	7	egarch	egarch	NOUN
ajfa-2165	197	8	model	model	NOUN
ajfa-2165	197	9	are	be	AUX
ajfa-2165	197	10	reported	report	VERB
ajfa-2165	197	11	in	in	ADP
ajfa-2165	197	12	table	table	NOUN
ajfa-2165	197	13	2	2	NUM
ajfa-2165	197	14	.	.	PUNCT
ajfa-2165	197	15	table	table	NOUN
ajfa-2165	197	16	2	2	NUM
ajfa-2165	197	17	.	.	NOUN
ajfa-2165	197	18	var	var	PROPN
ajfa-2165	197	19	adequacy	adequacy	PROPN
ajfa-2165	197	20	test	test	NOUN
ajfa-2165	197	21	nifty	nifty	ADJ
ajfa-2165	197	22	var	var	PROPN
ajfa-2165	197	23	adequacy	adequacy	PROPN
ajfa-2165	197	24	test	test	NOUN
ajfa-2165	197	25	critical	critical	ADJ
ajfa-2165	197	26	values	value	NOUN
ajfa-2165	197	27	lags	lag	VERB
ajfa-2165	197	28	future	future	ADJ
ajfa-2165	197	29	price	price	NOUN
ajfa-2165	197	30	&	&	CCONJ
ajfa-2165	197	31	spot	spot	NOUN
ajfa-2165	197	32	price	price	NOUN
ajfa-2165	197	33	1	1	NUM
ajfa-2165	197	34	stability	stability	NOUN
ajfa-2165	197	35	(	(	PUNCT
ajfa-2165	197	36	modulus	modulus	ADJ
ajfa-2165	197	37	values	value	NOUN
ajfa-2165	197	38	of	of	ADP
ajfa-2165	197	39	roots	root	NOUN
ajfa-2165	197	40	of	of	ADP
ajfa-2165	197	41	characteristics	characteristic	NOUN
ajfa-2165	197	42	polynomials	polynomial	NOUN
ajfa-2165	197	43	)	)	PUNCT
ajfa-2165	197	44	0.94	0.94	NUM
ajfa-2165	197	45	,	,	PUNCT
ajfa-2165	197	46	0.89	0.89	NUM
ajfa-2165	197	47	,	,	PUNCT
ajfa-2165	197	48	0.24	0.24	NUM
ajfa-2165	197	49	,	,	PUNCT
ajfa-2165	197	50	0.08	0.08	NUM
ajfa-2165	197	51	(	(	PUNCT
ajfa-2165	197	52	stable	stable	ADJ
ajfa-2165	197	53	)	)	PUNCT
ajfa-2165	197	54	2	2	NUM
ajfa-2165	197	55	*	*	SYM
ajfa-2165	197	56	2	2	NUM
ajfa-2165	197	57	normality	normality	NOUN
ajfa-2165	197	58	chi	chi	ADJ
ajfa-2165	197	59	-	-	PUNCT
ajfa-2165	197	60	square	square	ADJ
ajfa-2165	197	61	values	value	NOUN
ajfa-2165	197	62	4.81	4.81	NUM
ajfa-2165	197	63	(	(	PUNCT
ajfa-2165	197	64	jarque	jarque	NOUN
ajfa-2165	197	65	-	-	PUNCT
ajfa-2165	197	66	bera	bera	NOUN
ajfa-2165	197	67	)	)	PUNCT
ajfa-2165	198	1	p	p	NOUN
ajfa-2165	198	2	val	val	NOUN
ajfa-2165	198	3	(	(	PUNCT
ajfa-2165	198	4	0.09	0.09	NUM
ajfa-2165	198	5	)	)	PUNCT
ajfa-2165	198	6	(	(	PUNCT
ajfa-2165	198	7	normal	normal	ADJ
ajfa-2165	198	8	)	)	PUNCT
ajfa-2165	198	9	2	2	NUM
ajfa-2165	198	10	*	*	SYM
ajfa-2165	198	11	3	3	NUM
ajfa-2165	198	12	serial	serial	ADJ
ajfa-2165	198	13	correlation	correlation	NOUN
ajfa-2165	198	14	lm	lm	NOUN
ajfa-2165	198	15	-	-	NOUN
ajfa-2165	198	16	test	test	NOUN
ajfa-2165	198	17	18.55	18.55	NUM
ajfa-2165	198	18	(	(	PUNCT
ajfa-2165	198	19	p	p	NOUN
ajfa-2165	198	20	val	val	NOUN
ajfa-2165	198	21	0.08	0.08	NUM
ajfa-2165	198	22	)	)	PUNCT
ajfa-2165	198	23	(	(	PUNCT
ajfa-2165	198	24	no	no	DET
ajfa-2165	198	25	serial	serial	ADJ
ajfa-2165	198	26	correlation	correlation	NOUN
ajfa-2165	198	27	)	)	PUNCT
ajfa-2165	198	28	2	2	NUM
ajfa-2165	198	29	*	*	PUNCT
ajfa-2165	198	30	the	the	DET
ajfa-2165	198	31	coefficients	coefficient	NOUN
ajfa-2165	198	32	of	of	ADP
ajfa-2165	198	33	βsf	βsf	NOUN
ajfa-2165	198	34	and	and	CCONJ
ajfa-2165	198	35	βfs	βfs	NOUN
ajfa-2165	198	36	are	be	AUX
ajfa-2165	198	37	very	very	ADV
ajfa-2165	198	38	important	important	ADJ
ajfa-2165	198	39	and	and	CCONJ
ajfa-2165	198	40	reveal	reveal	VERB
ajfa-2165	198	41	volatility	volatility	NOUN
ajfa-2165	198	42	spill	spill	NOUN
ajfa-2165	198	43	over	over	ADP
ajfa-2165	198	44	from	from	ADP
ajfa-2165	198	45	the	the	DET
ajfa-2165	198	46	spot	spot	NOUN
ajfa-2165	198	47	to	to	ADP
ajfa-2165	198	48	future	future	NOUN
ajfa-2165	198	49	or	or	CCONJ
ajfa-2165	198	50	future	future	NOUN
ajfa-2165	198	51	to	to	PART
ajfa-2165	198	52	spot	spot	VERB
ajfa-2165	198	53	.	.	PUNCT
ajfa-2165	199	1	the	the	DET
ajfa-2165	199	2	results	result	NOUN
ajfa-2165	199	3	of	of	ADP
ajfa-2165	199	4	volatility	volatility	NOUN
ajfa-2165	199	5	spillover	spillover	VERB
ajfa-2165	199	6	relationships	relationship	NOUN
ajfa-2165	199	7	between	between	ADP
ajfa-2165	199	8	futures	future	NOUN
ajfa-2165	199	9	and	and	CCONJ
ajfa-2165	199	10	spot	spot	NOUN
ajfa-2165	199	11	market	market	NOUN
ajfa-2165	199	12	for	for	ADP
ajfa-2165	199	13	sample	sample	NOUN
ajfa-2165	199	14	series	series	NOUN
ajfa-2165	199	15	are	be	AUX
ajfa-2165	199	16	established	establish	VERB
ajfa-2165	199	17	using	use	VERB
ajfa-2165	199	18	bivariate	bivariate	ADJ
ajfa-2165	199	19	e	e	ADJ
ajfa-2165	199	20	-	-	ADJ
ajfa-2165	199	21	garch	garch	ADJ
ajfa-2165	199	22	model	model	NOUN
ajfa-2165	199	23	.	.	PUNCT
ajfa-2165	200	1	the	the	DET
ajfa-2165	200	2	asian	asian	ADJ
ajfa-2165	200	3	journal	journal	PROPN
ajfa-2165	200	4	of	of	ADP
ajfa-2165	200	5	finance	finance	PROPN
ajfa-2165	200	6	&	&	CCONJ
ajfa-2165	200	7	accounting	accounting	PROPN
ajfa-2165	200	8	issn	issn	PROPN
ajfa-2165	200	9	1946	1946	NUM
ajfa-2165	200	10	-	-	PUNCT
ajfa-2165	200	11	052x	052x	NOUN
ajfa-2165	200	12	2013	2013	NUM
ajfa-2165	200	13	,	,	PUNCT
ajfa-2165	200	14	vol	vol	NOUN
ajfa-2165	200	15	.	.	PROPN
ajfa-2165	200	16	5	5	NUM
ajfa-2165	200	17	,	,	PUNCT
ajfa-2165	200	18	no	no	INTJ
ajfa-2165	200	19	.	.	NOUN
ajfa-2165	200	20	1	1	NUM
ajfa-2165	200	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	200	22	299	299	NUM
ajfa-2165	200	23	coefficient	coefficient	NOUN
ajfa-2165	200	24	βsf	βsf	PROPN
ajfa-2165	200	25	indicates	indicate	VERB
ajfa-2165	200	26	the	the	DET
ajfa-2165	200	27	volatility	volatility	NOUN
ajfa-2165	200	28	spillover	spillover	VERB
ajfa-2165	200	29	from	from	ADP
ajfa-2165	200	30	futures	future	NOUN
ajfa-2165	200	31	to	to	PART
ajfa-2165	200	32	spot	spot	VERB
ajfa-2165	200	33	and	and	CCONJ
ajfa-2165	200	34	βfs	βfs	NOUN
ajfa-2165	200	35	means	mean	VERB
ajfa-2165	200	36	reverse	reverse	ADJ
ajfa-2165	200	37	direction	direction	NOUN
ajfa-2165	200	38	.	.	PUNCT
ajfa-2165	201	1	the	the	DET
ajfa-2165	201	2	coefficients	coefficient	NOUN
ajfa-2165	201	3	βss	βss	PROPN
ajfa-2165	201	4	and	and	CCONJ
ajfa-2165	201	5	βff	βff	NOUN
ajfa-2165	201	6	show	show	VERB
ajfa-2165	201	7	the	the	DET
ajfa-2165	201	8	volatility	volatility	NOUN
ajfa-2165	201	9	clustering	cluster	VERB
ajfa-2165	201	10	,	,	PUNCT
ajfa-2165	201	11	while	while	SCONJ
ajfa-2165	201	12	the	the	DET
ajfa-2165	201	13	coefficients	coefficient	NOUN
ajfa-2165	201	14	λs	λs	ADP
ajfa-2165	201	15	and	and	CCONJ
ajfa-2165	201	16	λf	λf	ADV
ajfa-2165	201	17	measure	measure	NOUN
ajfa-2165	201	18	the	the	DET
ajfa-2165	201	19	degree	degree	NOUN
ajfa-2165	201	20	of	of	ADP
ajfa-2165	201	21	volatility	volatility	NOUN
ajfa-2165	201	22	persistence	persistence	NOUN
ajfa-2165	201	23	.	.	PUNCT
ajfa-2165	202	1	the	the	DET
ajfa-2165	202	2	residuals	residual	NOUN
ajfa-2165	202	3	of	of	ADP
ajfa-2165	202	4	the	the	DET
ajfa-2165	202	5	model	model	NOUN
ajfa-2165	202	6	are	be	AUX
ajfa-2165	202	7	tested	test	VERB
ajfa-2165	202	8	for	for	ADP
ajfa-2165	202	9	additional	additional	ADJ
ajfa-2165	202	10	arch	arch	ADJ
ajfa-2165	202	11	effects	effect	NOUN
ajfa-2165	202	12	using	use	VERB
ajfa-2165	202	13	arch	arch	NOUN
ajfa-2165	202	14	lm	lm	PROPN
ajfa-2165	202	15	test	test	NOUN
ajfa-2165	202	16	.	.	PUNCT
ajfa-2165	203	1	the	the	DET
ajfa-2165	203	2	results	result	NOUN
ajfa-2165	203	3	of	of	ADP
ajfa-2165	203	4	volatility	volatility	NOUN
ajfa-2165	203	5	spillover	spillover	VERB
ajfa-2165	203	6	from	from	ADP
ajfa-2165	203	7	spot	spot	NOUN
ajfa-2165	203	8	to	to	ADP
ajfa-2165	203	9	future	future	NOUN
ajfa-2165	203	10	are	be	AUX
ajfa-2165	203	11	significant	significant	ADJ
ajfa-2165	203	12	as	as	SCONJ
ajfa-2165	203	13	p	p	NOUN
ajfa-2165	203	14	-	-	PUNCT
ajfa-2165	203	15	value	value	NOUN
ajfa-2165	203	16	of	of	ADP
ajfa-2165	203	17	coefficient	coefficient	NOUN
ajfa-2165	203	18	of	of	ADP
ajfa-2165	203	19	βfs	βfs	PROPN
ajfa-2165	203	20	is	be	AUX
ajfa-2165	203	21	<	<	X
ajfa-2165	203	22	0.05	0.05	NUM
ajfa-2165	203	23	at	at	ADP
ajfa-2165	203	24	5	5	NUM
ajfa-2165	203	25	%	%	NOUN
ajfa-2165	203	26	level	level	NOUN
ajfa-2165	203	27	of	of	ADP
ajfa-2165	203	28	significance	significance	NOUN
ajfa-2165	203	29	,	,	PUNCT
ajfa-2165	203	30	it	it	PRON
ajfa-2165	203	31	is	be	AUX
ajfa-2165	203	32	not	not	PART
ajfa-2165	203	33	true	true	ADJ
ajfa-2165	203	34	in	in	ADP
ajfa-2165	203	35	the	the	DET
ajfa-2165	203	36	reverse	reverse	ADJ
ajfa-2165	203	37	direction	direction	NOUN
ajfa-2165	203	38	i.e.	i.e.	X
ajfa-2165	203	39	p	p	X
ajfa-2165	203	40	-	-	PUNCT
ajfa-2165	203	41	value	value	NOUN
ajfa-2165	203	42	of	of	ADP
ajfa-2165	203	43	βsf	βsf	NOUN
ajfa-2165	203	44	is	be	AUX
ajfa-2165	203	45	>	>	X
ajfa-2165	203	46	0.05	0.05	NUM
ajfa-2165	203	47	i.e.	i.e.	X
ajfa-2165	203	48	no	no	DET
ajfa-2165	203	49	significant	significant	ADJ
ajfa-2165	203	50	spillover	spillover	NOUN
ajfa-2165	203	51	is	be	AUX
ajfa-2165	203	52	observed	observe	VERB
ajfa-2165	203	53	from	from	ADP
ajfa-2165	203	54	future	future	NOUN
ajfa-2165	203	55	to	to	PART
ajfa-2165	203	56	spot	spot	VERB
ajfa-2165	203	57	see	see	VERB
ajfa-2165	203	58	table	table	NOUN
ajfa-2165	203	59	3	3	NUM
ajfa-2165	203	60	panel	panel	NOUN
ajfa-2165	203	61	(	(	PUNCT
ajfa-2165	203	62	a	a	NOUN
ajfa-2165	203	63	)	)	PUNCT
ajfa-2165	203	64	&	&	CCONJ
ajfa-2165	203	65	panel	panel	NOUN
ajfa-2165	203	66	(	(	PUNCT
ajfa-2165	203	67	b	b	NOUN
ajfa-2165	203	68	)	)	PUNCT
ajfa-2165	203	69	respectively	respectively	ADV
ajfa-2165	203	70	.	.	PUNCT
ajfa-2165	204	1	this	this	PRON
ajfa-2165	204	2	means	mean	VERB
ajfa-2165	204	3	innovations	innovation	NOUN
ajfa-2165	204	4	of	of	ADP
ajfa-2165	204	5	spot	spot	NOUN
ajfa-2165	204	6	markets	market	NOUN
ajfa-2165	204	7	have	have	VERB
ajfa-2165	204	8	asymmetric	asymmetric	ADJ
ajfa-2165	204	9	influence	influence	NOUN
ajfa-2165	204	10	to	to	ADP
ajfa-2165	204	11	the	the	DET
ajfa-2165	204	12	variance	variance	NOUN
ajfa-2165	204	13	of	of	ADP
ajfa-2165	204	14	futures	future	NOUN
ajfa-2165	204	15	markets	market	NOUN
ajfa-2165	204	16	,	,	PUNCT
ajfa-2165	204	17	and	and	CCONJ
ajfa-2165	204	18	there	there	PRON
ajfa-2165	204	19	is	be	VERB
ajfa-2165	204	20	a	a	DET
ajfa-2165	204	21	uni	uni	ADJ
ajfa-2165	204	22	-	-	ADJ
ajfa-2165	204	23	directional	directional	ADJ
ajfa-2165	204	24	volatility	volatility	NOUN
ajfa-2165	204	25	spillover	spillover	VERB
ajfa-2165	204	26	,	,	PUNCT
ajfa-2165	204	27	from	from	ADP
ajfa-2165	204	28	spot	spot	NOUN
ajfa-2165	204	29	market	market	NOUN
ajfa-2165	204	30	to	to	ADP
ajfa-2165	204	31	future	future	ADJ
ajfa-2165	204	32	market	market	NOUN
ajfa-2165	204	33	,	,	PUNCT
ajfa-2165	204	34	or	or	CCONJ
ajfa-2165	204	35	in	in	ADP
ajfa-2165	204	36	simple	simple	ADJ
ajfa-2165	204	37	words	word	NOUN
ajfa-2165	204	38	we	we	PRON
ajfa-2165	204	39	can	can	AUX
ajfa-2165	204	40	say	say	VERB
ajfa-2165	204	41	that	that	SCONJ
ajfa-2165	204	42	an	an	DET
ajfa-2165	204	43	innovation	innovation	NOUN
ajfa-2165	204	44	originating	originate	VERB
ajfa-2165	204	45	in	in	ADP
ajfa-2165	204	46	spot	spot	NOUN
ajfa-2165	204	47	market	market	NOUN
ajfa-2165	204	48	influences	influence	VERB
ajfa-2165	204	49	the	the	DET
ajfa-2165	204	50	volatility	volatility	NOUN
ajfa-2165	204	51	of	of	ADP
ajfa-2165	204	52	the	the	DET
ajfa-2165	204	53	futures	future	NOUN
ajfa-2165	204	54	market	market	NOUN
ajfa-2165	204	55	.	.	PUNCT
ajfa-2165	205	1	volatility	volatility	NOUN
ajfa-2165	205	2	persistence	persistence	NOUN
ajfa-2165	205	3	is	be	AUX
ajfa-2165	205	4	tested	test	VERB
ajfa-2165	205	5	for	for	ADP
ajfa-2165	205	6	sample	sample	NOUN
ajfa-2165	205	7	series	series	NOUN
ajfa-2165	205	8	to	to	PART
ajfa-2165	205	9	test	test	VERB
ajfa-2165	205	10	the	the	DET
ajfa-2165	205	11	effect	effect	NOUN
ajfa-2165	205	12	of	of	ADP
ajfa-2165	205	13	shocks	shock	NOUN
ajfa-2165	205	14	,	,	PUNCT
ajfa-2165	205	15	which	which	PRON
ajfa-2165	205	16	is	be	AUX
ajfa-2165	205	17	an	an	DET
ajfa-2165	205	18	indicator	indicator	NOUN
ajfa-2165	205	19	of	of	ADP
ajfa-2165	205	20	market	market	NOUN
ajfa-2165	205	21	efficiency	efficiency	NOUN
ajfa-2165	205	22	.	.	PUNCT
ajfa-2165	206	1	it	it	PRON
ajfa-2165	206	2	means	mean	VERB
ajfa-2165	206	3	persistence	persistence	NOUN
ajfa-2165	206	4	of	of	ADP
ajfa-2165	206	5	volatility	volatility	NOUN
ajfa-2165	206	6	that	that	SCONJ
ajfa-2165	206	7	today	today	NOUN
ajfa-2165	206	8	’s	’s	PART
ajfa-2165	206	9	volatility	volatility	NOUN
ajfa-2165	206	10	is	be	AUX
ajfa-2165	206	11	due	due	ADJ
ajfa-2165	206	12	to	to	ADP
ajfa-2165	206	13	information	information	NOUN
ajfa-2165	206	14	that	that	PRON
ajfa-2165	206	15	arrived	arrive	VERB
ajfa-2165	206	16	today	today	NOUN
ajfa-2165	206	17	and	and	CCONJ
ajfa-2165	206	18	will	will	AUX
ajfa-2165	206	19	affect	affect	VERB
ajfa-2165	206	20	tomorrow	tomorrow	NOUN
ajfa-2165	206	21	’s	’s	PART
ajfa-2165	206	22	volatility	volatility	NOUN
ajfa-2165	206	23	and	and	CCONJ
ajfa-2165	206	24	volatility	volatility	NOUN
ajfa-2165	206	25	of	of	ADP
ajfa-2165	206	26	days	day	NOUN
ajfa-2165	206	27	to	to	PART
ajfa-2165	206	28	come	come	VERB
ajfa-2165	206	29	.	.	PUNCT
ajfa-2165	207	1	γf	γf	VERB
ajfa-2165	207	2	and	and	CCONJ
ajfa-2165	207	3	γs	γs	AUX
ajfa-2165	207	4	measure	measure	VERB
ajfa-2165	207	5	the	the	DET
ajfa-2165	207	6	persistence	persistence	NOUN
ajfa-2165	207	7	of	of	ADP
ajfa-2165	207	8	volatility	volatility	NOUN
ajfa-2165	207	9	in	in	ADP
ajfa-2165	207	10	spot	spot	NOUN
ajfa-2165	207	11	and	and	CCONJ
ajfa-2165	207	12	futures	future	NOUN
ajfa-2165	207	13	market	market	NOUN
ajfa-2165	207	14	.	.	PUNCT
ajfa-2165	208	1	the	the	PRON
ajfa-2165	208	2	smaller	small	ADJ
ajfa-2165	208	3	the	the	DET
ajfa-2165	208	4	absolute	absolute	ADJ
ajfa-2165	208	5	value	value	NOUN
ajfa-2165	208	6	of	of	ADP
ajfa-2165	208	7	the	the	DET
ajfa-2165	208	8	coefficient	coefficient	NOUN
ajfa-2165	208	9	,	,	PUNCT
ajfa-2165	208	10	the	the	DET
ajfa-2165	208	11	less	less	ADV
ajfa-2165	208	12	persistent	persistent	ADJ
ajfa-2165	208	13	volatility	volatility	NOUN
ajfa-2165	208	14	is	be	AUX
ajfa-2165	208	15	after	after	ADP
ajfa-2165	208	16	a	a	DET
ajfa-2165	208	17	shock	shock	NOUN
ajfa-2165	208	18	.	.	PUNCT
ajfa-2165	209	1	volatility	volatility	NOUN
ajfa-2165	209	2	persistence	persistence	NOUN
ajfa-2165	209	3	is	be	AUX
ajfa-2165	209	4	significant	significant	ADJ
ajfa-2165	209	5	for	for	ADP
ajfa-2165	209	6	both	both	CCONJ
ajfa-2165	209	7	spot	spot	NOUN
ajfa-2165	209	8	and	and	CCONJ
ajfa-2165	209	9	future	future	ADJ
ajfa-2165	209	10	prices	price	NOUN
ajfa-2165	209	11	for	for	ADP
ajfa-2165	209	12	sample	sample	NOUN
ajfa-2165	209	13	series	series	NOUN
ajfa-2165	209	14	,	,	PUNCT
ajfa-2165	209	15	as	as	SCONJ
ajfa-2165	209	16	p	p	NOUN
ajfa-2165	209	17	(	(	PUNCT
ajfa-2165	209	18	value	value	NOUN
ajfa-2165	209	19	)	)	PUNCT
ajfa-2165	209	20	is	be	AUX
ajfa-2165	209	21	coming	come	VERB
ajfa-2165	209	22	less	less	ADJ
ajfa-2165	209	23	than	than	ADP
ajfa-2165	209	24	0.05	0.05	NUM
ajfa-2165	209	25	at	at	ADP
ajfa-2165	209	26	5	5	NUM
ajfa-2165	209	27	%	%	NOUN
ajfa-2165	209	28	level	level	NOUN
ajfa-2165	209	29	of	of	ADP
ajfa-2165	209	30	significance	significance	NOUN
ajfa-2165	209	31	with	with	ADP
ajfa-2165	209	32	significant	significant	ADJ
ajfa-2165	209	33	coefficients	coefficient	NOUN
ajfa-2165	209	34	of	of	ADP
ajfa-2165	209	35	λs	λs	NOUN
ajfa-2165	209	36	and	and	CCONJ
ajfa-2165	209	37	λf	λf	ADP
ajfa-2165	209	38	which	which	PRON
ajfa-2165	209	39	is	be	AUX
ajfa-2165	209	40	a	a	DET
ajfa-2165	209	41	measure	measure	NOUN
ajfa-2165	209	42	the	the	DET
ajfa-2165	209	43	degree	degree	NOUN
ajfa-2165	209	44	of	of	ADP
ajfa-2165	209	45	volatility	volatility	NOUN
ajfa-2165	209	46	persistence	persistence	NOUN
ajfa-2165	209	47	.	.	PUNCT
ajfa-2165	210	1	volatility	volatility	NOUN
ajfa-2165	210	2	estimation	estimation	NOUN
ajfa-2165	210	3	is	be	AUX
ajfa-2165	210	4	important	important	ADJ
ajfa-2165	210	5	for	for	ADP
ajfa-2165	210	6	several	several	ADJ
ajfa-2165	210	7	reasons	reason	NOUN
ajfa-2165	210	8	and	and	CCONJ
ajfa-2165	210	9	for	for	ADP
ajfa-2165	210	10	different	different	ADJ
ajfa-2165	210	11	people	people	NOUN
ajfa-2165	210	12	in	in	ADP
ajfa-2165	210	13	the	the	DET
ajfa-2165	210	14	market	market	NOUN
ajfa-2165	210	15	pricing	pricing	NOUN
ajfa-2165	210	16	of	of	ADP
ajfa-2165	210	17	securities	security	NOUN
ajfa-2165	210	18	is	be	AUX
ajfa-2165	210	19	supposed	suppose	VERB
ajfa-2165	210	20	to	to	PART
ajfa-2165	210	21	be	be	AUX
ajfa-2165	210	22	dependent	dependent	ADJ
ajfa-2165	210	23	on	on	ADP
ajfa-2165	210	24	volatility	volatility	NOUN
ajfa-2165	210	25	of	of	ADP
ajfa-2165	210	26	each	each	DET
ajfa-2165	210	27	asset	asset	NOUN
ajfa-2165	210	28	.	.	PUNCT
ajfa-2165	211	1	market	market	NOUN
ajfa-2165	211	2	prices	price	NOUN
ajfa-2165	211	3	tend	tend	VERB
ajfa-2165	211	4	to	to	PART
ajfa-2165	211	5	exhibit	exhibit	VERB
ajfa-2165	211	6	periods	period	NOUN
ajfa-2165	211	7	of	of	ADP
ajfa-2165	211	8	high	high	ADJ
ajfa-2165	211	9	and	and	CCONJ
ajfa-2165	211	10	low	low	ADJ
ajfa-2165	211	11	volatility	volatility	NOUN
ajfa-2165	211	12	.	.	PUNCT
ajfa-2165	212	1	this	this	DET
ajfa-2165	212	2	sort	sort	NOUN
ajfa-2165	212	3	of	of	ADP
ajfa-2165	212	4	behaviour	behaviour	NOUN
ajfa-2165	212	5	is	be	AUX
ajfa-2165	212	6	called	call	VERB
ajfa-2165	212	7	volatility	volatility	NOUN
ajfa-2165	212	8	clustering	clustering	NOUN
ajfa-2165	212	9	.	.	PUNCT
ajfa-2165	213	1	volatility	volatility	NOUN
ajfa-2165	213	2	clustering	clustering	NOUN
ajfa-2165	213	3	is	be	AUX
ajfa-2165	213	4	tested	test	VERB
ajfa-2165	213	5	for	for	ADP
ajfa-2165	213	6	sample	sample	NOUN
ajfa-2165	213	7	series	series	NOUN
ajfa-2165	213	8	,	,	PUNCT
ajfa-2165	213	9	which	which	PRON
ajfa-2165	213	10	means	mean	VERB
ajfa-2165	213	11	“	"	PUNCT
ajfa-2165	213	12	large	large	ADJ
ajfa-2165	213	13	changes	change	NOUN
ajfa-2165	213	14	tend	tend	VERB
ajfa-2165	213	15	to	to	PART
ajfa-2165	213	16	be	be	AUX
ajfa-2165	213	17	followed	follow	VERB
ajfa-2165	213	18	by	by	ADP
ajfa-2165	213	19	large	large	ADJ
ajfa-2165	213	20	changes	change	NOUN
ajfa-2165	213	21	,	,	PUNCT
ajfa-2165	213	22	of	of	ADP
ajfa-2165	213	23	either	either	DET
ajfa-2165	213	24	sign	sign	NOUN
ajfa-2165	213	25	,	,	PUNCT
ajfa-2165	213	26	and	and	CCONJ
ajfa-2165	213	27	small	small	ADJ
ajfa-2165	213	28	changes	change	NOUN
ajfa-2165	213	29	tend	tend	VERB
ajfa-2165	213	30	to	to	PART
ajfa-2165	213	31	be	be	AUX
ajfa-2165	213	32	followed	follow	VERB
ajfa-2165	213	33	by	by	ADP
ajfa-2165	213	34	small	small	ADJ
ajfa-2165	213	35	changes	change	NOUN
ajfa-2165	213	36	.	.	PUNCT
ajfa-2165	213	37	”	"	PUNCT
ajfa-2165	214	1	a	a	DET
ajfa-2165	214	2	quantitative	quantitative	ADJ
ajfa-2165	214	3	manifestation	manifestation	NOUN
ajfa-2165	214	4	of	of	ADP
ajfa-2165	214	5	this	this	DET
ajfa-2165	214	6	fact	fact	NOUN
ajfa-2165	214	7	is	be	AUX
ajfa-2165	214	8	that	that	SCONJ
ajfa-2165	214	9	,	,	PUNCT
ajfa-2165	214	10	while	while	SCONJ
ajfa-2165	214	11	returns	return	NOUN
ajfa-2165	214	12	themselves	themselves	PRON
ajfa-2165	214	13	are	be	AUX
ajfa-2165	214	14	uncorrelated	uncorrelated	ADJ
ajfa-2165	214	15	,	,	PUNCT
ajfa-2165	214	16	absolute	absolute	ADJ
ajfa-2165	214	17	returns	return	NOUN
ajfa-2165	214	18	|rt|	|rt|	VERB
ajfa-2165	214	19	or	or	CCONJ
ajfa-2165	214	20	their	their	PRON
ajfa-2165	214	21	squares	square	NOUN
ajfa-2165	214	22	display	display	VERB
ajfa-2165	214	23	a	a	DET
ajfa-2165	214	24	positive	positive	ADJ
ajfa-2165	214	25	,	,	PUNCT
ajfa-2165	214	26	significant	significant	ADJ
ajfa-2165	214	27	and	and	CCONJ
ajfa-2165	214	28	slowly	slowly	ADV
ajfa-2165	214	29	decaying	decay	VERB
ajfa-2165	214	30	autocorrelation	autocorrelation	NOUN
ajfa-2165	214	31	function	function	NOUN
ajfa-2165	214	32	:	:	PUNCT
ajfa-2165	214	33	corr	corr	NOUN
ajfa-2165	214	34	(	(	PUNCT
ajfa-2165	214	35	|rt|,|rt+τ	|rt|,|rt+τ	PROPN
ajfa-2165	214	36	|	|	ADV
ajfa-2165	214	37	)	)	PUNCT
ajfa-2165	214	38	>	>	X
ajfa-2165	214	39	0	0	NUM
ajfa-2165	214	40	for	for	ADP
ajfa-2165	214	41	τ	τ	PROPN
ajfa-2165	214	42	ranging	range	VERB
ajfa-2165	214	43	from	from	ADP
ajfa-2165	214	44	a	a	DET
ajfa-2165	214	45	few	few	ADJ
ajfa-2165	214	46	minutes	minute	NOUN
ajfa-2165	214	47	to	to	ADP
ajfa-2165	214	48	a	a	DET
ajfa-2165	214	49	several	several	ADJ
ajfa-2165	214	50	weeks	week	NOUN
ajfa-2165	214	51	.	.	PUNCT
ajfa-2165	215	1	a	a	DET
ajfa-2165	215	2	significantly	significantly	ADV
ajfa-2165	215	3	positive	positive	ADJ
ajfa-2165	215	4	and	and	CCONJ
ajfa-2165	215	5	asymmetrical	asymmetrical	ADJ
ajfa-2165	215	6	influence	influence	NOUN
ajfa-2165	215	7	of	of	ADP
ajfa-2165	215	8	innovation	innovation	NOUN
ajfa-2165	215	9	is	be	AUX
ajfa-2165	215	10	observed	observe	VERB
ajfa-2165	215	11	i.e.	i.e.	X
ajfa-2165	215	12	the	the	DET
ajfa-2165	215	13	market	market	NOUN
ajfa-2165	215	14	-	-	PUNCT
ajfa-2165	215	15	specific	specific	ADJ
ajfa-2165	215	16	volatility	volatility	NOUN
ajfa-2165	215	17	clustering	cluster	VERB
ajfa-2165	215	18	coefficients	coefficient	NOUN
ajfa-2165	215	19	are	be	AUX
ajfa-2165	215	20	all	all	PRON
ajfa-2165	215	21	positively	positively	ADV
ajfa-2165	215	22	significant	significant	ADJ
ajfa-2165	215	23	at	at	ADP
ajfa-2165	215	24	5	5	NUM
ajfa-2165	215	25	%	%	NOUN
ajfa-2165	215	26	level	level	NOUN
ajfa-2165	215	27	in	in	ADP
ajfa-2165	215	28	the	the	DET
ajfa-2165	215	29	future	future	ADJ
ajfa-2165	215	30	and	and	CCONJ
ajfa-2165	215	31	spot	spot	NOUN
ajfa-2165	215	32	markets	market	NOUN
ajfa-2165	215	33	.	.	PUNCT
ajfa-2165	216	1	of	of	ADP
ajfa-2165	216	2	course	course	NOUN
ajfa-2165	216	3	,	,	PUNCT
ajfa-2165	216	4	we	we	PRON
ajfa-2165	216	5	can	can	AUX
ajfa-2165	216	6	understand	understand	VERB
ajfa-2165	216	7	the	the	DET
ajfa-2165	216	8	efficiency	efficiency	NOUN
ajfa-2165	216	9	degree	degree	NOUN
ajfa-2165	216	10	in	in	ADP
ajfa-2165	216	11	spot	spot	NOUN
ajfa-2165	216	12	-	-	PUNCT
ajfa-2165	216	13	futures	future	NOUN
ajfa-2165	216	14	market	market	NOUN
ajfa-2165	216	15	from	from	ADP
ajfa-2165	216	16	one	one	NUM
ajfa-2165	216	17	side	side	NOUN
ajfa-2165	216	18	according	accord	VERB
ajfa-2165	216	19	to	to	ADP
ajfa-2165	216	20	the	the	DET
ajfa-2165	216	21	magnitude	magnitude	NOUN
ajfa-2165	216	22	of	of	ADP
ajfa-2165	216	23	correlative	correlative	ADJ
ajfa-2165	216	24	coefficients	coefficient	NOUN
ajfa-2165	216	25	.	.	PUNCT
ajfa-2165	217	1	therefore	therefore	ADV
ajfa-2165	217	2	,	,	PUNCT
ajfa-2165	217	3	the	the	DET
ajfa-2165	217	4	bivariate	bivariate	ADJ
ajfa-2165	217	5	egarch	egarch	NOUN
ajfa-2165	217	6	model	model	NOUN
ajfa-2165	217	7	indicates	indicate	VERB
ajfa-2165	217	8	that	that	SCONJ
ajfa-2165	217	9	past	past	ADJ
ajfa-2165	217	10	innovations	innovation	NOUN
ajfa-2165	217	11	in	in	ADP
ajfa-2165	217	12	futures	future	NOUN
ajfa-2165	217	13	significantly	significantly	ADV
ajfa-2165	217	14	influence	influence	VERB
ajfa-2165	217	15	spot	spot	NOUN
ajfa-2165	217	16	volatility	volatility	NOUN
ajfa-2165	217	17	.	.	PUNCT
ajfa-2165	218	1	asian	asian	ADJ
ajfa-2165	218	2	journal	journal	PROPN
ajfa-2165	218	3	of	of	ADP
ajfa-2165	218	4	finance	finance	PROPN
ajfa-2165	218	5	&	&	CCONJ
ajfa-2165	218	6	accounting	accounting	PROPN
ajfa-2165	218	7	issn	issn	PROPN
ajfa-2165	218	8	1946	1946	NUM
ajfa-2165	218	9	-	-	PUNCT
ajfa-2165	218	10	052x	052x	NOUN
ajfa-2165	218	11	2013	2013	NUM
ajfa-2165	218	12	,	,	PUNCT
ajfa-2165	218	13	vol	vol	NOUN
ajfa-2165	218	14	.	.	PROPN
ajfa-2165	218	15	5	5	NUM
ajfa-2165	218	16	,	,	PUNCT
ajfa-2165	218	17	no	no	INTJ
ajfa-2165	218	18	.	.	NOUN
ajfa-2165	218	19	1	1	NUM
ajfa-2165	218	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	218	21	300	300	NUM
ajfa-2165	218	22	table	table	NOUN
ajfa-2165	218	23	3.volatility	3.volatility	NUM
ajfa-2165	218	24	relationship	relationship	NOUN
ajfa-2165	218	25	dependent	dependent	ADJ
ajfa-2165	218	26	variable	variable	NOUN
ajfa-2165	218	27	–	–	PUNCT
ajfa-2165	218	28	future	future	ADJ
ajfa-2165	218	29	panel	panel	NOUN
ajfa-2165	218	30	a	a	PRON
ajfa-2165	218	31	:	:	PUNCT
ajfa-2165	218	32	coefficient	coefficient	NOUN
ajfa-2165	218	33	std	std	NOUN
ajfa-2165	218	34	.	.	PUNCT
ajfa-2165	219	1	error	error	NOUN
ajfa-2165	219	2	z	z	NOUN
ajfa-2165	219	3	-	-	PUNCT
ajfa-2165	219	4	statistic	statistic	ADJ
ajfa-2165	219	5	prob	prob	NOUN
ajfa-2165	219	6	.	.	PUNCT
ajfa-2165	220	1	a.	a.	PROPN
ajfa-2165	220	2	βff	βff	PROPN
ajfa-2165	221	1	(	(	PUNCT
ajfa-2165	221	2	volatility	volatility	NOUN
ajfa-2165	221	3	clustering	cluster	VERB
ajfa-2165	221	4	)	)	PUNCT
ajfa-2165	221	5	sqrresidfuture(-1	sqrresidfuture(-1	ADJ
ajfa-2165	221	6	)	)	PUNCT
ajfa-2165	221	7	-0.0	-0.0	NOUN
ajfa-2165	221	8	0.0	0.0	NUM
ajfa-2165	221	9	-2.01	-2.01	NUM
ajfa-2165	221	10	0.0	0.0	NUM
ajfa-2165	221	11	*	*	PUNCT
ajfa-2165	221	12	*	*	PROPN
ajfa-2165	221	13	b.	b.	PROPN
ajfa-2165	221	14	βfs	βfs	PROPN
ajfa-2165	222	1	(	(	PUNCT
ajfa-2165	222	2	volatility	volatility	NOUN
ajfa-2165	222	3	spillover	spillover	VERB
ajfa-2165	222	4	)	)	PUNCT
ajfa-2165	222	5	sqrresidspot(-1	sqrresidspot(-1	ADJ
ajfa-2165	222	6	)	)	PUNCT
ajfa-2165	222	7	0.0	0.0	NUM
ajfa-2165	222	8	0.0	0.0	NUM
ajfa-2165	222	9	2.27	2.27	NUM
ajfa-2165	222	10	0.0	0.0	NUM
ajfa-2165	222	11	*	*	PUNCT
ajfa-2165	222	12	*	*	PROPN
ajfa-2165	222	13	c.	c.	PROPN
ajfa-2165	222	14	λf	λf	PROPN
ajfa-2165	222	15	(	(	PUNCT
ajfa-2165	222	16	volatility	volatility	NOUN
ajfa-2165	222	17	persistence	persistence	NOUN
ajfa-2165	222	18	)	)	PUNCT
ajfa-2165	222	19	varfuture(-1	varfuture(-1	PROPN
ajfa-2165	222	20	)	)	PUNCT
ajfa-2165	222	21	0.94	0.94	NUM
ajfa-2165	222	22	0.0	0.0	NUM
ajfa-2165	222	23	210.71	210.71	NUM
ajfa-2165	222	24	0.0	0.0	NUM
ajfa-2165	222	25	*	*	NOUN
ajfa-2165	222	26	*	*	NOUN
ajfa-2165	222	27	volatility	volatility	NOUN
ajfa-2165	222	28	relationships	relationship	NOUN
ajfa-2165	222	29	dependent	dependent	ADJ
ajfa-2165	222	30	variable	variable	ADJ
ajfa-2165	222	31	–	–	PUNCT
ajfa-2165	222	32	spot	spot	NOUN
ajfa-2165	222	33	panel	panel	NOUN
ajfa-2165	222	34	b	b	PROPN
ajfa-2165	222	35	coefficient	coefficient	NOUN
ajfa-2165	222	36	std	std	NOUN
ajfa-2165	222	37	.	.	NOUN
ajfa-2165	222	38	error	error	NOUN
ajfa-2165	222	39	z	z	NOUN
ajfa-2165	222	40	-	-	PUNCT
ajfa-2165	222	41	statistic	statistic	ADJ
ajfa-2165	222	42	prob	prob	NOUN
ajfa-2165	222	43	.	.	PUNCT
ajfa-2165	222	44	a.	a.	PROPN
ajfa-2165	222	45	βss	βss	PROPN
ajfa-2165	223	1	(	(	PUNCT
ajfa-2165	223	2	volatility	volatility	NOUN
ajfa-2165	223	3	clustering	clustering	NOUN
ajfa-2165	223	4	)	)	PUNCT
ajfa-2165	223	5	sqrresidspot(-1	sqrresidspot(-1	NOUN
ajfa-2165	223	6	)	)	PUNCT
ajfa-2165	223	7	0.01	0.01	NUM
ajfa-2165	223	8	0.00	0.00	NUM
ajfa-2165	223	9	1.31	1.31	NUM
ajfa-2165	223	10	0.0	0.0	NUM
ajfa-2165	223	11	*	*	PUNCT
ajfa-2165	223	12	*	*	PROPN
ajfa-2165	223	13	b.	b.	PROPN
ajfa-2165	223	14	βsf	βsf	PROPN
ajfa-2165	224	1	(	(	PUNCT
ajfa-2165	224	2	volatility	volatility	NOUN
ajfa-2165	224	3	spillover	spillover	VERB
ajfa-2165	224	4	)	)	PUNCT
ajfa-2165	224	5	sqrresidfuture(-1	sqrresidfuture(-1	ADJ
ajfa-2165	224	6	)	)	PUNCT
ajfa-2165	224	7	-0.0	-0.0	NOUN
ajfa-2165	225	1	0.01	0.01	NUM
ajfa-2165	225	2	-1.01	-1.01	NUM
ajfa-2165	225	3	0.3	0.3	NUM
ajfa-2165	225	4	c.	c.	NOUN
ajfa-2165	225	5	λs(volatility	λs(volatility	NOUN
ajfa-2165	225	6	persistence	persistence	NOUN
ajfa-2165	225	7	)	)	PUNCT
ajfa-2165	225	8	varspot(-1	varspot(-1	ADJ
ajfa-2165	225	9	)	)	PUNCT
ajfa-2165	225	10	0.9	0.9	NUM
ajfa-2165	225	11	0.00	0.00	NUM
ajfa-2165	225	12	191.71	191.71	NUM
ajfa-2165	225	13	0.0	0.0	NUM
ajfa-2165	225	14	*	*	SYM
ajfa-2165	225	15	*	*	NOUN
ajfa-2165	225	16	the	the	DET
ajfa-2165	225	17	table	table	NOUN
ajfa-2165	225	18	describes	describe	VERB
ajfa-2165	225	19	volatility	volatility	NOUN
ajfa-2165	225	20	spillover	spillover	NOUN
ajfa-2165	225	21	(	(	PUNCT
ajfa-2165	225	22	βsf	βsf	NOUN
ajfa-2165	225	23	and	and	CCONJ
ajfa-2165	225	24	βfs	βfs	NOUN
ajfa-2165	225	25	)	)	PUNCT
ajfa-2165	225	26	volatility	volatility	NOUN
ajfa-2165	225	27	persistence	persistence	NOUN
ajfa-2165	225	28	(	(	PUNCT
ajfa-2165	225	29	λf	λf	X
ajfa-2165	225	30	and	and	CCONJ
ajfa-2165	225	31	λs	λs	NOUN
ajfa-2165	225	32	)	)	PUNCT
ajfa-2165	225	33	and	and	CCONJ
ajfa-2165	225	34	volatility	volatility	NOUN
ajfa-2165	225	35	clustering	clustering	NOUN
ajfa-2165	225	36	(	(	PUNCT
ajfa-2165	225	37	βff	βff	NOUN
ajfa-2165	225	38	and	and	CCONJ
ajfa-2165	225	39	βss	βss	ADJ
ajfa-2165	225	40	)	)	PUNCT
ajfa-2165	225	41	from	from	ADP
ajfa-2165	225	42	the	the	DET
ajfa-2165	225	43	spot	spot	NOUN
ajfa-2165	225	44	to	to	ADP
ajfa-2165	225	45	future	future	NOUN
ajfa-2165	225	46	or	or	CCONJ
ajfa-2165	225	47	future	future	NOUN
ajfa-2165	225	48	to	to	PART
ajfa-2165	225	49	spot	spot	VERB
ajfa-2165	225	50	respectively	respectively	ADV
ajfa-2165	225	51	.	.	PUNCT
ajfa-2165	226	1	volatility	volatility	NOUN
ajfa-2165	226	2	spillover	spillover	NOUN
ajfa-2165	226	3	is	be	AUX
ajfa-2165	226	4	observed	observe	VERB
ajfa-2165	226	5	from	from	ADP
ajfa-2165	226	6	spot	spot	NOUN
ajfa-2165	226	7	to	to	ADP
ajfa-2165	226	8	future	future	NOUN
ajfa-2165	226	9	and	and	CCONJ
ajfa-2165	226	10	not	not	PART
ajfa-2165	226	11	vice	vice	ADV
ajfa-2165	226	12	versa	versa	ADV
ajfa-2165	226	13	.	.	PUNCT
ajfa-2165	227	1	volatility	volatility	NOUN
ajfa-2165	227	2	persistence	persistence	NOUN
ajfa-2165	227	3	is	be	AUX
ajfa-2165	227	4	significant	significant	ADJ
ajfa-2165	227	5	for	for	ADP
ajfa-2165	227	6	both	both	CCONJ
ajfa-2165	227	7	spot	spot	NOUN
ajfa-2165	227	8	and	and	CCONJ
ajfa-2165	227	9	future	future	ADJ
ajfa-2165	227	10	prices	price	NOUN
ajfa-2165	227	11	for	for	ADP
ajfa-2165	227	12	all	all	DET
ajfa-2165	227	13	commodities	commodity	NOUN
ajfa-2165	227	14	and	and	CCONJ
ajfa-2165	227	15	indices	index	NOUN
ajfa-2165	227	16	,	,	PUNCT
ajfa-2165	227	17	the	the	DET
ajfa-2165	227	18	market	market	NOUN
ajfa-2165	227	19	-	-	PUNCT
ajfa-2165	227	20	specific	specific	ADJ
ajfa-2165	227	21	volatility	volatility	NOUN
ajfa-2165	227	22	clustering	cluster	VERB
ajfa-2165	227	23	coefficients	coefficient	NOUN
ajfa-2165	227	24	βff	βff	PROPN
ajfa-2165	228	1	and	and	CCONJ
ajfa-2165	228	2	βss	βss	NOUN
ajfa-2165	228	3	are	be	AUX
ajfa-2165	228	4	all	all	ADV
ajfa-2165	228	5	positively	positively	ADV
ajfa-2165	228	6	significant	significant	ADJ
ajfa-2165	228	7	at	at	ADP
ajfa-2165	228	8	5	5	NUM
ajfa-2165	228	9	%	%	NOUN
ajfa-2165	228	10	level	level	NOUN
ajfa-2165	228	11	in	in	ADP
ajfa-2165	228	12	the	the	DET
ajfa-2165	228	13	future	future	ADJ
ajfa-2165	228	14	and	and	CCONJ
ajfa-2165	228	15	spot	spot	NOUN
ajfa-2165	228	16	markets	market	NOUN
ajfa-2165	228	17	.	.	PUNCT
ajfa-2165	229	1	conclusion	conclusion	NOUN
ajfa-2165	229	2	in	in	ADP
ajfa-2165	229	3	a	a	DET
ajfa-2165	229	4	perfectly	perfectly	ADV
ajfa-2165	229	5	functioning	function	VERB
ajfa-2165	229	6	world	world	NOUN
ajfa-2165	229	7	,	,	PUNCT
ajfa-2165	229	8	every	every	DET
ajfa-2165	229	9	bit	bit	NOUN
ajfa-2165	229	10	of	of	ADP
ajfa-2165	229	11	information	information	NOUN
ajfa-2165	229	12	should	should	AUX
ajfa-2165	229	13	be	be	AUX
ajfa-2165	229	14	replicated	replicate	VERB
ajfa-2165	229	15	concurrently	concurrently	ADV
ajfa-2165	229	16	in	in	ADP
ajfa-2165	229	17	the	the	DET
ajfa-2165	229	18	both	both	DET
ajfa-2165	229	19	spot	spot	NOUN
ajfa-2165	229	20	market	market	NOUN
ajfa-2165	229	21	and	and	CCONJ
ajfa-2165	229	22	its	its	PRON
ajfa-2165	229	23	futures	future	NOUN
ajfa-2165	229	24	markets	market	NOUN
ajfa-2165	229	25	.	.	PUNCT
ajfa-2165	230	1	however	however	ADV
ajfa-2165	230	2	,	,	PUNCT
ajfa-2165	230	3	in	in	ADP
ajfa-2165	230	4	actuality	actuality	NOUN
ajfa-2165	230	5	,	,	PUNCT
ajfa-2165	230	6	information	information	NOUN
ajfa-2165	230	7	can	can	AUX
ajfa-2165	230	8	be	be	AUX
ajfa-2165	230	9	disseminated	disseminate	VERB
ajfa-2165	230	10	in	in	ADP
ajfa-2165	230	11	one	one	NUM
ajfa-2165	230	12	market	market	NOUN
ajfa-2165	230	13	first	first	ADV
ajfa-2165	230	14	and	and	CCONJ
ajfa-2165	230	15	then	then	ADV
ajfa-2165	230	16	send	send	VERB
ajfa-2165	230	17	out	out	ADP
ajfa-2165	230	18	to	to	ADP
ajfa-2165	230	19	other	other	ADJ
ajfa-2165	230	20	markets	market	NOUN
ajfa-2165	230	21	owing	owe	VERB
ajfa-2165	230	22	to	to	ADP
ajfa-2165	230	23	market	market	NOUN
ajfa-2165	230	24	imperfections	imperfection	NOUN
ajfa-2165	230	25	.	.	PUNCT
ajfa-2165	231	1	the	the	DET
ajfa-2165	231	2	study	study	NOUN
ajfa-2165	231	3	investigates	investigate	VERB
ajfa-2165	231	4	how	how	SCONJ
ajfa-2165	231	5	much	much	ADJ
ajfa-2165	231	6	of	of	ADP
ajfa-2165	231	7	the	the	DET
ajfa-2165	231	8	volatility	volatility	NOUN
ajfa-2165	231	9	in	in	ADP
ajfa-2165	231	10	one	one	NUM
ajfa-2165	231	11	market	market	NOUN
ajfa-2165	231	12	can	can	AUX
ajfa-2165	231	13	be	be	AUX
ajfa-2165	231	14	explained	explain	VERB
ajfa-2165	231	15	by	by	ADP
ajfa-2165	231	16	volatility	volatility	NOUN
ajfa-2165	231	17	innovations	innovation	NOUN
ajfa-2165	231	18	in	in	ADP
ajfa-2165	231	19	the	the	DET
ajfa-2165	231	20	other	other	ADJ
ajfa-2165	231	21	market	market	NOUN
ajfa-2165	231	22	and	and	CCONJ
ajfa-2165	231	23	how	how	SCONJ
ajfa-2165	231	24	fast	fast	ADV
ajfa-2165	231	25	these	these	DET
ajfa-2165	231	26	movements	movement	NOUN
ajfa-2165	231	27	transfer	transfer	VERB
ajfa-2165	231	28	between	between	ADP
ajfa-2165	231	29	these	these	DET
ajfa-2165	231	30	markets	market	NOUN
ajfa-2165	231	31	.	.	PUNCT
ajfa-2165	232	1	thus	thus	ADV
ajfa-2165	232	2	,	,	PUNCT
ajfa-2165	232	3	the	the	DET
ajfa-2165	232	4	lead	lead	ADJ
ajfa-2165	232	5	-	-	PUNCT
ajfa-2165	232	6	lag	lag	NOUN
ajfa-2165	232	7	relationship	relationship	NOUN
ajfa-2165	232	8	in	in	ADP
ajfa-2165	232	9	returns	return	NOUN
ajfa-2165	232	10	and	and	CCONJ
ajfa-2165	232	11	volatilities	volatility	NOUN
ajfa-2165	232	12	between	between	ADP
ajfa-2165	232	13	spot	spot	NOUN
ajfa-2165	232	14	and	and	CCONJ
ajfa-2165	232	15	futures	future	NOUN
ajfa-2165	232	16	markets	market	NOUN
ajfa-2165	232	17	is	be	AUX
ajfa-2165	232	18	of	of	ADP
ajfa-2165	232	19	interest	interest	NOUN
ajfa-2165	232	20	to	to	ADP
ajfa-2165	232	21	academicians	academician	NOUN
ajfa-2165	232	22	,	,	PUNCT
ajfa-2165	232	23	practitioners	practitioner	NOUN
ajfa-2165	232	24	,	,	PUNCT
ajfa-2165	232	25	and	and	CCONJ
ajfa-2165	232	26	regulators	regulator	NOUN
ajfa-2165	232	27	.	.	PUNCT
ajfa-2165	233	1	if	if	SCONJ
ajfa-2165	233	2	volatility	volatility	NOUN
ajfa-2165	233	3	spillovers	spillover	NOUN
ajfa-2165	233	4	exist	exist	VERB
ajfa-2165	233	5	from	from	ADP
ajfa-2165	233	6	one	one	NUM
ajfa-2165	233	7	market	market	NOUN
ajfa-2165	233	8	to	to	ADP
ajfa-2165	233	9	the	the	DET
ajfa-2165	233	10	other	other	ADJ
ajfa-2165	233	11	,	,	PUNCT
ajfa-2165	233	12	then	then	ADV
ajfa-2165	233	13	the	the	DET
ajfa-2165	233	14	volatility	volatility	NOUN
ajfa-2165	233	15	transmitting	transmit	VERB
ajfa-2165	233	16	market	market	NOUN
ajfa-2165	233	17	may	may	AUX
ajfa-2165	233	18	be	be	AUX
ajfa-2165	233	19	used	use	VERB
ajfa-2165	233	20	by	by	ADP
ajfa-2165	233	21	market	market	NOUN
ajfa-2165	233	22	agents	agent	NOUN
ajfa-2165	233	23	,	,	PUNCT
ajfa-2165	233	24	who	who	PRON
ajfa-2165	233	25	need	need	VERB
ajfa-2165	233	26	to	to	PART
ajfa-2165	233	27	cover	cover	VERB
ajfa-2165	233	28	the	the	DET
ajfa-2165	233	29	risk	risk	NOUN
ajfa-2165	233	30	exposure	exposure	NOUN
ajfa-2165	233	31	that	that	PRON
ajfa-2165	233	32	they	they	PRON
ajfa-2165	233	33	face	face	VERB
ajfa-2165	233	34	,	,	PUNCT
ajfa-2165	233	35	as	as	ADP
ajfa-2165	233	36	a	a	DET
ajfa-2165	233	37	very	very	ADV
ajfa-2165	233	38	asian	asian	ADJ
ajfa-2165	233	39	journal	journal	NOUN
ajfa-2165	233	40	of	of	ADP
ajfa-2165	233	41	finance	finance	PROPN
ajfa-2165	233	42	&	&	CCONJ
ajfa-2165	233	43	accounting	accounting	PROPN
ajfa-2165	233	44	issn	issn	PROPN
ajfa-2165	233	45	1946	1946	NUM
ajfa-2165	233	46	-	-	PUNCT
ajfa-2165	233	47	052x	052x	NOUN
ajfa-2165	233	48	2013	2013	NUM
ajfa-2165	233	49	,	,	PUNCT
ajfa-2165	233	50	vol	vol	NOUN
ajfa-2165	233	51	.	.	PROPN
ajfa-2165	233	52	5	5	NUM
ajfa-2165	233	53	,	,	PUNCT
ajfa-2165	233	54	no	no	INTJ
ajfa-2165	233	55	.	.	NOUN
ajfa-2165	233	56	1	1	NUM
ajfa-2165	233	57	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-2165	233	58	301	301	NUM
ajfa-2165	233	59	important	important	ADJ
ajfa-2165	233	60	vehicle	vehicle	NOUN
ajfa-2165	233	61	of	of	ADP
ajfa-2165	233	62	price	price	NOUN
ajfa-2165	233	63	discovery	discovery	NOUN
ajfa-2165	233	64	.	.	PUNCT
ajfa-2165	234	1	for	for	ADP
ajfa-2165	234	2	example	example	NOUN
ajfa-2165	234	3	,	,	PUNCT
ajfa-2165	234	4	the	the	DET
ajfa-2165	234	5	information	information	NOUN
ajfa-2165	234	6	about	about	ADP
ajfa-2165	234	7	instantaneous	instantaneous	ADJ
ajfa-2165	234	8	impact	impact	NOUN
ajfa-2165	234	9	and	and	CCONJ
ajfa-2165	234	10	lagged	lag	VERB
ajfa-2165	234	11	effects	effect	NOUN
ajfa-2165	234	12	of	of	ADP
ajfa-2165	234	13	shocks	shock	NOUN
ajfa-2165	234	14	between	between	ADP
ajfa-2165	234	15	spot	spot	NOUN
ajfa-2165	234	16	and	and	CCONJ
ajfa-2165	234	17	futures	future	NOUN
ajfa-2165	234	18	prices	price	NOUN
ajfa-2165	234	19	may	may	AUX
ajfa-2165	234	20	be	be	AUX
ajfa-2165	234	21	used	use	VERB
ajfa-2165	234	22	in	in	ADP
ajfa-2165	234	23	decision	decision	NOUN
ajfa-2165	234	24	making	making	NOUN
ajfa-2165	234	25	regarding	regard	VERB
ajfa-2165	234	26	hedging	hedging	NOUN
ajfa-2165	234	27	activities	activity	NOUN
ajfa-2165	234	28	(	(	PUNCT
ajfa-2165	234	29	wahab	wahab	PROPN
ajfa-2165	234	30	and	and	CCONJ
ajfa-2165	234	31	lashgari	lashgari	PROPN
ajfa-2165	234	32	,	,	PUNCT
ajfa-2165	234	33	1993	1993	NUM
ajfa-2165	234	34	)	)	PUNCT
ajfa-2165	234	35	.	.	PUNCT
ajfa-2165	235	1	a	a	DET
ajfa-2165	235	2	deep	deep	ADJ
ajfa-2165	235	3	understanding	understanding	NOUN
ajfa-2165	235	4	of	of	ADP
ajfa-2165	235	5	the	the	DET
ajfa-2165	235	6	dynamic	dynamic	ADJ
ajfa-2165	235	7	relation	relation	NOUN
ajfa-2165	235	8	of	of	ADP
ajfa-2165	235	9	spot	spot	NOUN
ajfa-2165	235	10	and	and	CCONJ
ajfa-2165	235	11	futures	future	NOUN
ajfa-2165	235	12	prices	price	NOUN
ajfa-2165	235	13	and	and	CCONJ
ajfa-2165	235	14	its	its	PRON
ajfa-2165	235	15	relation	relation	NOUN
ajfa-2165	235	16	to	to	ADP
ajfa-2165	235	17	the	the	DET
ajfa-2165	235	18	basis	basis	NOUN
ajfa-2165	235	19	provides	provide	VERB
ajfa-2165	235	20	these	these	DET
ajfa-2165	235	21	“	"	PUNCT
ajfa-2165	235	22	agents	agent	NOUN
ajfa-2165	235	23	”	"	PUNCT
ajfa-2165	235	24	the	the	DET
ajfa-2165	235	25	ability	ability	NOUN
ajfa-2165	235	26	to	to	PART
ajfa-2165	235	27	use	use	VERB
ajfa-2165	235	28	hedging	hedge	VERB
ajfa-2165	235	29	in	in	ADP
ajfa-2165	235	30	a	a	DET
ajfa-2165	235	31	more	more	ADV
ajfa-2165	235	32	skilled	skilled	ADJ
ajfa-2165	235	33	mode	mode	NOUN
ajfa-2165	235	34	.	.	PUNCT
ajfa-2165	236	1	furthermore	furthermore	ADV
ajfa-2165	236	2	,	,	PUNCT
ajfa-2165	236	3	if	if	SCONJ
ajfa-2165	236	4	a	a	DET
ajfa-2165	236	5	return	return	NOUN
ajfa-2165	236	6	analysis	analysis	NOUN
ajfa-2165	236	7	is	be	AUX
ajfa-2165	236	8	questionable	questionable	ADJ
ajfa-2165	236	9	,	,	PUNCT
ajfa-2165	236	10	volatility	volatility	NOUN
ajfa-2165	236	11	spillovers	spillover	NOUN
ajfa-2165	236	12	provide	provide	VERB
ajfa-2165	236	13	an	an	DET
ajfa-2165	236	14	alternative	alternative	ADJ
ajfa-2165	236	15	measure	measure	NOUN
ajfa-2165	236	16	of	of	ADP
ajfa-2165	236	17	information	information	NOUN
ajfa-2165	236	18	transmission	transmission	NOUN
ajfa-2165	236	19	(	(	PUNCT
ajfa-2165	236	20	chan	chan	PROPN
ajfa-2165	236	21	,	,	PUNCT
ajfa-2165	236	22	chan	chan	PROPN
ajfa-2165	236	23	and	and	CCONJ
ajfa-2165	236	24	karolyi	karolyi	NOUN
ajfa-2165	236	25	,	,	PUNCT
ajfa-2165	236	26	1991	1991	NUM
ajfa-2165	236	27	)	)	PUNCT
ajfa-2165	236	28	.	.	PUNCT
ajfa-2165	237	1	owing	owe	VERB
ajfa-2165	237	2	to	to	ADP
ajfa-2165	237	3	these	these	DET
ajfa-2165	237	4	grounds	ground	NOUN
ajfa-2165	237	5	,	,	PUNCT
ajfa-2165	237	6	research	research	NOUN
ajfa-2165	237	7	committed	commit	VERB
ajfa-2165	237	8	to	to	ADP
ajfa-2165	237	9	the	the	DET
ajfa-2165	237	10	relationship	relationship	NOUN
ajfa-2165	237	11	between	between	ADP
ajfa-2165	237	12	futures	future	NOUN
ajfa-2165	237	13	and	and	CCONJ
ajfa-2165	237	14	spot	spot	NOUN
ajfa-2165	237	15	returns	return	NOUN
ajfa-2165	237	16	(	(	PUNCT
ajfa-2165	237	17	first	first	ADJ
ajfa-2165	237	18	moments	moment	NOUN
ajfa-2165	237	19	)	)	PUNCT
ajfa-2165	237	20	has	have	AUX
ajfa-2165	237	21	been	be	AUX
ajfa-2165	237	22	capacious	capacious	ADJ
ajfa-2165	237	23	(	(	PUNCT
ajfa-2165	237	24	chan	chan	NOUN
ajfa-2165	237	25	and	and	CCONJ
ajfa-2165	237	26	karolyi	karolyi	NOUN
ajfa-2165	237	27	,	,	PUNCT
ajfa-2165	237	28	1991	1991	NUM
ajfa-2165	237	29	;	;	PUNCT
ajfa-2165	237	30	chan	chan	PROPN
ajfa-2165	237	31	,	,	PUNCT
ajfa-2165	237	32	1992	1992	NUM
ajfa-2165	237	33	)	)	PUNCT
ajfa-2165	237	34	,	,	PUNCT
ajfa-2165	237	35	with	with	ADP
ajfa-2165	237	36	this	this	DET
ajfa-2165	237	37	interest	interest	NOUN
ajfa-2165	237	38	growing	grow	VERB
ajfa-2165	237	39	to	to	ADP
ajfa-2165	237	40	examining	examine	VERB
ajfa-2165	237	41	higher	high	ADJ
ajfa-2165	237	42	moment	moment	NOUN
ajfa-2165	237	43	dependencies	dependency	NOUN
ajfa-2165	237	44	(	(	PUNCT
ajfa-2165	237	45	time	time	NOUN
ajfa-2165	237	46	-	-	PUNCT
ajfa-2165	237	47	varying	vary	VERB
ajfa-2165	237	48	spillovers	spillover	NOUN
ajfa-2165	237	49	)	)	PUNCT
ajfa-2165	237	50	between	between	ADP
ajfa-2165	237	51	markets	market	NOUN
ajfa-2165	237	52	(	(	PUNCT
ajfa-2165	237	53	ng	ng	PROPN
ajfa-2165	237	54	and	and	CCONJ
ajfa-2165	237	55	pirrong	pirrong	PROPN
ajfa-2165	237	56	,	,	PUNCT
ajfa-2165	237	57	1996	1996	NUM
ajfa-2165	237	58	;	;	PUNCT
ajfa-2165	237	59	and	and	CCONJ
ajfa-2165	237	60	koutmos	koutmos	PROPN
ajfa-2165	237	61	and	and	CCONJ
ajfa-2165	237	62	tucker	tucker	PROPN
ajfa-2165	237	63	,	,	PUNCT
ajfa-2165	237	64	1996	1996	NUM
ajfa-2165	237	65	)	)	PUNCT
ajfa-2165	237	66	.	.	PUNCT
ajfa-2165	238	1	the	the	DET
ajfa-2165	238	2	literature	literature	NOUN
ajfa-2165	238	3	relating	relate	VERB
ajfa-2165	238	4	to	to	ADP
ajfa-2165	238	5	volatility	volatility	NOUN
ajfa-2165	238	6	in	in	ADP
ajfa-2165	238	7	stock	stock	NOUN
ajfa-2165	238	8	futures	future	NOUN
ajfa-2165	238	9	market	market	NOUN
ajfa-2165	238	10	has	have	AUX
ajfa-2165	238	11	mainly	mainly	ADV
ajfa-2165	238	12	been	be	AUX
ajfa-2165	238	13	confined	confine	VERB
ajfa-2165	238	14	to	to	ADP
ajfa-2165	238	15	developed	develop	VERB
ajfa-2165	238	16	economies	economy	NOUN
ajfa-2165	238	17	.	.	PUNCT
ajfa-2165	239	1	stock	stock	NOUN
ajfa-2165	239	2	markets	market	NOUN
ajfa-2165	239	3	in	in	ADP
ajfa-2165	239	4	emerging	emerge	VERB
ajfa-2165	239	5	economies	economy	NOUN
ajfa-2165	239	6	like	like	ADP
ajfa-2165	239	7	india	india	PROPN
ajfa-2165	239	8	have	have	AUX
ajfa-2165	239	9	been	be	AUX
ajfa-2165	239	10	growing	grow	VERB
ajfa-2165	239	11	exponentially	exponentially	ADV
ajfa-2165	239	12	.	.	PUNCT
ajfa-2165	240	1	empirical	empirical	ADJ
ajfa-2165	240	2	studies	study	NOUN
ajfa-2165	240	3	on	on	ADP
ajfa-2165	240	4	the	the	DET
ajfa-2165	240	5	subject	subject	NOUN
ajfa-2165	240	6	show	show	NOUN
ajfa-2165	240	7	that	that	SCONJ
ajfa-2165	240	8	the	the	DET
ajfa-2165	240	9	introduction	introduction	NOUN
ajfa-2165	240	10	of	of	ADP
ajfa-2165	240	11	derivatives	derivative	NOUN
ajfa-2165	240	12	contracts	contract	NOUN
ajfa-2165	240	13	improves	improve	VERB
ajfa-2165	240	14	the	the	DET
ajfa-2165	240	15	liquidity	liquidity	NOUN
ajfa-2165	240	16	and	and	CCONJ
ajfa-2165	240	17	reduces	reduce	VERB
ajfa-2165	240	18	informational	informational	ADJ
ajfa-2165	240	19	asymmetries	asymmetry	NOUN
ajfa-2165	240	20	in	in	ADP
ajfa-2165	240	21	the	the	DET
ajfa-2165	240	22	market	market	NOUN
ajfa-2165	240	23	.	.	PUNCT
ajfa-2165	241	1	the	the	DET
ajfa-2165	241	2	present	present	ADJ
ajfa-2165	241	3	study	study	NOUN
ajfa-2165	241	4	evaluates	evaluate	VERB
ajfa-2165	241	5	volatility	volatility	NOUN
ajfa-2165	241	6	spillover	spillover	VERB
ajfa-2165	241	7	effects	effect	NOUN
ajfa-2165	241	8	for	for	ADP
ajfa-2165	241	9	fairly	fairly	ADV
ajfa-2165	241	10	large	large	ADJ
ajfa-2165	241	11	period	period	NOUN
ajfa-2165	241	12	in	in	ADP
ajfa-2165	241	13	indian	indian	ADJ
ajfa-2165	241	14	stock	stock	NOUN
ajfa-2165	241	15	market	market	NOUN
ajfa-2165	241	16	to	to	PART
ajfa-2165	241	17	bridge	bridge	VERB
ajfa-2165	241	18	the	the	DET
ajfa-2165	241	19	important	important	ADJ
ajfa-2165	241	20	gap	gap	NOUN
ajfa-2165	241	21	in	in	ADP
ajfa-2165	241	22	the	the	DET
ajfa-2165	241	23	literature	literature	NOUN
ajfa-2165	241	24	in	in	ADP
ajfa-2165	241	25	a	a	DET
ajfa-2165	241	26	comprehensive	comprehensive	ADJ
ajfa-2165	241	27	way	way	NOUN
ajfa-2165	241	28	.	.	PUNCT
ajfa-2165	242	1	we	we	PRON
ajfa-2165	242	2	cover	cover	VERB
ajfa-2165	242	3	nifty	nifty	ADJ
ajfa-2165	242	4	indices	index	NOUN
ajfa-2165	242	5	and	and	CCONJ
ajfa-2165	242	6	the	the	DET
ajfa-2165	242	7	study	study	NOUN
ajfa-2165	242	8	period	period	NOUN
ajfa-2165	242	9	is	be	AUX
ajfa-2165	242	10	from	from	ADP
ajfa-2165	242	11	june	june	PROPN
ajfa-2165	242	12	2003	2003	NUM
ajfa-2165	242	13	-	-	PUNCT
ajfa-2165	242	14	march	march	NOUN
ajfa-2165	242	15	2012.we	2012.we	NOUN
ajfa-2165	242	16	find	find	VERB
ajfa-2165	242	17	that	that	SCONJ
ajfa-2165	242	18	spot	spot	NOUN
ajfa-2165	242	19	and	and	CCONJ
ajfa-2165	242	20	futures	future	NOUN
ajfa-2165	242	21	a	a	DET
ajfa-2165	242	22	unidirectional	unidirectional	ADJ
ajfa-2165	242	23	volatility	volatility	NOUN
ajfa-2165	242	24	spillover	spillover	NOUN
ajfa-2165	242	25	is	be	AUX
ajfa-2165	242	26	observed	observe	VERB
ajfa-2165	242	27	from	from	ADP
ajfa-2165	242	28	spot	spot	NOUN
ajfa-2165	242	29	to	to	ADP
ajfa-2165	242	30	futures	future	NOUN
ajfa-2165	242	31	and	and	CCONJ
ajfa-2165	242	32	not	not	PART
ajfa-2165	242	33	vice	vice	NOUN
ajfa-2165	242	34	-	-	NOUN
ajfa-2165	242	35	versa	versa	ADV
ajfa-2165	242	36	.	.	PUNCT
ajfa-2165	243	1	whenever	whenever	SCONJ
ajfa-2165	243	2	there	there	PRON
ajfa-2165	243	3	is	be	VERB
ajfa-2165	243	4	high	high	ADJ
ajfa-2165	243	5	volatility	volatility	NOUN
ajfa-2165	243	6	in	in	ADP
ajfa-2165	243	7	stock	stock	NOUN
ajfa-2165	243	8	market	market	NOUN
ajfa-2165	243	9	that	that	PRON
ajfa-2165	243	10	will	will	AUX
ajfa-2165	243	11	affect	affect	VERB
ajfa-2165	243	12	futures	future	NOUN
ajfa-2165	243	13	market	market	NOUN
ajfa-2165	243	14	.	.	PUNCT
ajfa-2165	244	1	the	the	DET
ajfa-2165	244	2	findings	finding	NOUN
ajfa-2165	244	3	of	of	ADP
ajfa-2165	244	4	the	the	DET
ajfa-2165	244	5	study	study	NOUN
ajfa-2165	244	6	suggest	suggest	VERB
ajfa-2165	244	7	that	that	SCONJ
ajfa-2165	244	8	the	the	DET
ajfa-2165	244	9	nifty	nifty	ADJ
ajfa-2165	244	10	spot	spot	NOUN
ajfa-2165	244	11	are	be	AUX
ajfa-2165	244	12	more	more	ADV
ajfa-2165	244	13	important	important	ADJ
ajfa-2165	244	14	indicators	indicator	NOUN
ajfa-2165	244	15	of	of	ADP
ajfa-2165	244	16	stock	stock	NOUN
ajfa-2165	244	17	movements	movement	NOUN
ajfa-2165	244	18	which	which	PRON
ajfa-2165	244	19	is	be	AUX
ajfa-2165	244	20	in	in	ADP
ajfa-2165	244	21	contrary	contrary	ADJ
ajfa-2165	244	22	to	to	ADP
ajfa-2165	244	23	the	the	DET
ajfa-2165	244	24	studies	study	NOUN
ajfa-2165	244	25	done	do	VERB
ajfa-2165	244	26	by	by	ADP
ajfa-2165	244	27	kawaller	kawaller	PROPN
ajfa-2165	244	28	,	,	PUNCT
ajfa-2165	244	29	koch	koch	PROPN
ajfa-2165	244	30	and	and	CCONJ
ajfa-2165	244	31	koch	koch	PROPN
ajfa-2165	244	32	(	(	PUNCT
ajfa-2165	244	33	1987	1987	NUM
ajfa-2165	244	34	)	)	PUNCT
ajfa-2165	244	35	,	,	PUNCT
ajfa-2165	244	36	stoll	stoll	PROPN
ajfa-2165	244	37	and	and	CCONJ
ajfa-2165	244	38	whaley	whaley	PROPN
ajfa-2165	244	39	(	(	PUNCT
ajfa-2165	244	40	1990	1990	NUM
ajfa-2165	244	41	)	)	PUNCT
ajfa-2165	244	42	,	,	PUNCT
ajfa-2165	244	43	chan	chan	PROPN
ajfa-2165	244	44	(	(	PUNCT
ajfa-2165	244	45	1992	1992	NUM
ajfa-2165	244	46	)	)	PUNCT
ajfa-2165	244	47	and	and	CCONJ
ajfa-2165	244	48	ghosh	ghosh	PROPN
ajfa-2165	244	49	(	(	PUNCT
ajfa-2165	244	50	1993	1993	NUM
ajfa-2165	244	51	)	)	PUNCT
ajfa-2165	244	52	which	which	PRON
ajfa-2165	244	53	reported	report	VERB
ajfa-2165	244	54	dominant	dominant	ADJ
ajfa-2165	244	55	role	role	NOUN
ajfa-2165	244	56	of	of	ADP
ajfa-2165	244	57	s&p	s&p	PROPN
ajfa-2165	244	58	500	500	NUM
ajfa-2165	244	59	futures	future	NOUN
ajfa-2165	244	60	.	.	PUNCT
ajfa-2165	245	1	in	in	ADP
ajfa-2165	245	2	studies	study	NOUN
ajfa-2165	245	3	like	like	ADP
ajfa-2165	245	4	chan	chan	PROPN
ajfa-2165	245	5	,	,	PUNCT
ajfa-2165	245	6	chan	chan	PROPN
ajfa-2165	245	7	and	and	CCONJ
ajfa-2165	245	8	karolyi	karolyi	PROPN
ajfa-2165	245	9	(	(	PUNCT
ajfa-2165	245	10	1991	1991	NUM
ajfa-2165	245	11	)	)	PUNCT
ajfa-2165	245	12	,	,	PUNCT
ajfa-2165	245	13	arshanapali	arshanapali	PROPN
ajfa-2165	245	14	and	and	CCONJ
ajfa-2165	245	15	doukas	douka	NOUN
ajfa-2165	245	16	(	(	PUNCT
ajfa-2165	245	17	1994	1994	NUM
ajfa-2165	245	18	)	)	PUNCT
ajfa-2165	245	19	,	,	PUNCT
ajfa-2165	245	20	wang	wang	PROPN
ajfa-2165	245	21	and	and	CCONJ
ajfa-2165	245	22	wang	wang	PROPN
ajfa-2165	245	23	(	(	PUNCT
ajfa-2165	245	24	2001	2001	NUM
ajfa-2165	245	25	)	)	PUNCT
ajfa-2165	245	26	,	,	PUNCT
ajfa-2165	245	27	mukherjee	mukherjee	PROPN
ajfa-2165	245	28	and	and	CCONJ
ajfa-2165	245	29	mishra	mishra	PROPN
ajfa-2165	245	30	(	(	PUNCT
ajfa-2165	245	31	2004	2004	NUM
ajfa-2165	245	32	)	)	PUNCT
ajfa-2165	245	33	bidirectional	bidirectional	ADJ
ajfa-2165	245	34	spillover	spillover	NOUN
ajfa-2165	245	35	(	(	PUNCT
ajfa-2165	245	36	cross	cross	NOUN
ajfa-2165	245	37	market	market	NOUN
ajfa-2165	245	38	spillover	spillover	NOUN
ajfa-2165	245	39	)	)	PUNCT
ajfa-2165	245	40	is	be	AUX
ajfa-2165	245	41	observed	observe	VERB
ajfa-2165	245	42	in	in	ADP
ajfa-2165	245	43	both	both	CCONJ
ajfa-2165	245	44	the	the	DET
ajfa-2165	245	45	markets	market	NOUN
ajfa-2165	245	46	.	.	PUNCT
ajfa-2165	246	1	an	an	DET
ajfa-2165	246	2	investor	investor	NOUN
ajfa-2165	246	3	who	who	PRON
ajfa-2165	246	4	is	be	AUX
ajfa-2165	246	5	trading	trade	VERB
ajfa-2165	246	6	in	in	ADP
ajfa-2165	246	7	futures	future	NOUN
ajfa-2165	246	8	market	market	NOUN
ajfa-2165	246	9	should	should	AUX
ajfa-2165	246	10	always	always	ADV
ajfa-2165	246	11	watch	watch	VERB
ajfa-2165	246	12	out	out	ADP
ajfa-2165	246	13	for	for	ADP
ajfa-2165	246	14	volatility	volatility	NOUN
ajfa-2165	246	15	in	in	ADP
ajfa-2165	246	16	the	the	DET
ajfa-2165	246	17	stock	stock	NOUN
ajfa-2165	246	18	market	market	NOUN
ajfa-2165	246	19	.	.	PUNCT
ajfa-2165	247	1	from	from	ADP
ajfa-2165	247	2	regulators	regulator	NOUN
ajfa-2165	247	3	point	point	NOUN
ajfa-2165	247	4	of	of	ADP
ajfa-2165	247	5	view	view	NOUN
ajfa-2165	247	6	,	,	PUNCT
ajfa-2165	247	7	whenever	whenever	SCONJ
ajfa-2165	247	8	there	there	PRON
ajfa-2165	247	9	is	be	VERB
ajfa-2165	247	10	unexpected	unexpected	ADJ
ajfa-2165	247	11	volatility	volatility	NOUN
ajfa-2165	247	12	in	in	ADP
ajfa-2165	247	13	spot	spot	NOUN
ajfa-2165	247	14	market	market	NOUN
ajfa-2165	247	15	;	;	PUNCT
ajfa-2165	247	16	regulator	regulator	NOUN
ajfa-2165	247	17	should	should	AUX
ajfa-2165	247	18	take	take	VERB
ajfa-2165	247	19	necessary	necessary	ADJ
ajfa-2165	247	20	steps	step	NOUN
ajfa-2165	247	21	to	to	PART
ajfa-2165	247	22	curb	curb	VERB
ajfa-2165	247	23	the	the	DET
ajfa-2165	247	24	volatility	volatility	NOUN
ajfa-2165	247	25	.	.	PUNCT
ajfa-2165	248	1	otherwise	otherwise	ADV
ajfa-2165	248	2	the	the	DET
ajfa-2165	248	3	excess	excess	ADJ
ajfa-2165	248	4	volatility	volatility	NOUN
ajfa-2165	248	5	in	in	ADP
ajfa-2165	248	6	the	the	DET
ajfa-2165	248	7	spot	spot	NOUN
ajfa-2165	248	8	market	market	NOUN
ajfa-2165	248	9	will	will	AUX
ajfa-2165	248	10	spillover	spillover	VERB
ajfa-2165	248	11	to	to	ADP
ajfa-2165	248	12	futures	future	NOUN
ajfa-2165	248	13	market	market	NOUN
ajfa-2165	248	14	thereby	thereby	ADV
ajfa-2165	248	15	making	make	VERB
ajfa-2165	248	16	the	the	DET
ajfa-2165	248	17	futures	future	NOUN
ajfa-2165	248	18	market	market	NOUN
ajfa-2165	248	19	unstable	unstable	ADJ
ajfa-2165	248	20	.	.	PUNCT
ajfa-2165	249	1	spot	spot	NOUN
ajfa-2165	249	2	market	market	NOUN
ajfa-2165	249	3	reacts	react	VERB
ajfa-2165	249	4	to	to	ADP
ajfa-2165	249	5	information	information	NOUN
ajfa-2165	249	6	faster	fast	ADV
ajfa-2165	249	7	than	than	ADP
ajfa-2165	249	8	futures	future	NOUN
ajfa-2165	249	9	market	market	NOUN
ajfa-2165	249	10	and	and	CCONJ
ajfa-2165	249	11	serves	serve	VERB
ajfa-2165	249	12	as	as	ADP
ajfa-2165	249	13	a	a	DET
ajfa-2165	249	14	price	price	NOUN
ajfa-2165	249	15	discovery	discovery	NOUN
ajfa-2165	249	16	vehicle	vehicle	NOUN
ajfa-2165	249	17	for	for	ADP
ajfa-2165	249	18	futures	future	NOUN
ajfa-2165	249	19	market	market	NOUN
ajfa-2165	249	20	.	.	PUNCT
ajfa-2165	250	1	the	the	DET
ajfa-2165	250	2	possible	possible	ADJ
ajfa-2165	250	3	reasons	reason	NOUN
ajfa-2165	250	4	are	be	AUX
ajfa-2165	250	5	that	that	PRON
ajfa-2165	250	6	s&p	s&p	PROPN
ajfa-2165	250	7	cnx	cnx	PROPN
ajfa-2165	250	8	nifty	nifty	ADJ
ajfa-2165	250	9	futures	future	NOUN
ajfa-2165	250	10	is	be	AUX
ajfa-2165	250	11	relatively	relatively	ADV
ajfa-2165	250	12	new	new	ADJ
ajfa-2165	250	13	,	,	PUNCT
ajfa-2165	250	14	retail	retail	ADJ
ajfa-2165	250	15	and	and	CCONJ
ajfa-2165	250	16	proprietary	proprietary	ADJ
ajfa-2165	250	17	investors	investor	NOUN
ajfa-2165	250	18	contribute	contribute	VERB
ajfa-2165	250	19	around	around	ADP
ajfa-2165	250	20	90	90	NUM
ajfa-2165	250	21	%	%	NOUN
ajfa-2165	250	22	of	of	ADP
ajfa-2165	250	23	the	the	DET
ajfa-2165	250	24	trading	trading	NOUN
ajfa-2165	250	25	value	value	NOUN
ajfa-2165	250	26	of	of	ADP
ajfa-2165	250	27	indian	indian	ADJ
ajfa-2165	250	28	derivatives	derivative	NOUN
ajfa-2165	250	29	market	market	NOUN
ajfa-2165	250	30	,	,	PUNCT
ajfa-2165	250	31	while	while	SCONJ
ajfa-2165	250	32	institutional	institutional	ADJ
ajfa-2165	250	33	investors	investor	NOUN
ajfa-2165	250	34	are	be	AUX
ajfa-2165	250	35	mainly	mainly	ADV
ajfa-2165	250	36	dealing	deal	VERB
ajfa-2165	250	37	with	with	ADP
ajfa-2165	250	38	spot	spot	NOUN
ajfa-2165	250	39	market	market	NOUN
ajfa-2165	250	40	.	.	PUNCT
ajfa-2165	251	1	institutional	institutional	ADJ
ajfa-2165	251	2	investors	investor	NOUN
ajfa-2165	251	3	,	,	PUNCT
ajfa-2165	251	4	both	both	CCONJ
ajfa-2165	251	5	foreign	foreign	ADJ
ajfa-2165	251	6	and	and	CCONJ
ajfa-2165	251	7	domestic	domestic	ADJ
ajfa-2165	251	8	are	be	AUX
ajfa-2165	251	9	a	a	DET
ajfa-2165	251	10	force	force	NOUN
ajfa-2165	251	11	to	to	PART
ajfa-2165	251	12	reckon	reckon	VERB
ajfa-2165	251	13	with	with	ADP
ajfa-2165	251	14	in	in	ADP
ajfa-2165	251	15	the	the	DET
ajfa-2165	251	16	indian	indian	ADJ
ajfa-2165	251	17	stock	stock	NOUN
ajfa-2165	251	18	market	market	NOUN
ajfa-2165	251	19	.	.	PUNCT
ajfa-2165	252	1	they	they	PRON
ajfa-2165	252	2	provide	provide	VERB
ajfa-2165	252	3	efficiency	efficiency	NOUN
ajfa-2165	252	4	to	to	ADP
ajfa-2165	252	5	any	any	DET
ajfa-2165	252	6	market	market	NOUN
ajfa-2165	252	7	in	in	ADP
ajfa-2165	252	8	which	which	PRON
ajfa-2165	252	9	they	they	PRON
ajfa-2165	252	10	are	be	AUX
ajfa-2165	252	11	.	.	PUNCT
ajfa-2165	253	1	they	they	PRON
ajfa-2165	253	2	will	will	AUX
ajfa-2165	253	3	make	make	VERB
ajfa-2165	253	4	new	new	ADJ
ajfa-2165	253	5	information	information	NOUN
ajfa-2165	253	6	reflected	reflect	VERB
ajfa-2165	253	7	in	in	ADP
ajfa-2165	253	8	the	the	DET
ajfa-2165	253	9	stock	stock	NOUN
ajfa-2165	253	10	prices	price	NOUN
ajfa-2165	253	11	as	as	ADV
ajfa-2165	253	12	early	early	ADV
ajfa-2165	253	13	as	as	ADP
ajfa-2165	253	14	possible	possible	ADJ
ajfa-2165	253	15	.	.	PUNCT
ajfa-2165	254	1	with	with	ADP
ajfa-2165	254	2	proper	proper	ADJ
ajfa-2165	254	3	risk	risk	NOUN
ajfa-2165	254	4	management	management	NOUN
ajfa-2165	254	5	system	system	NOUN
ajfa-2165	254	6	in	in	ADP
ajfa-2165	254	7	place	place	NOUN
ajfa-2165	254	8	,	,	PUNCT
ajfa-2165	254	9	they	they	PRON
ajfa-2165	254	10	should	should	AUX
ajfa-2165	254	11	be	be	AUX
ajfa-2165	254	12	given	give	VERB
ajfa-2165	254	13	equal	equal	ADJ
ajfa-2165	254	14	access	access	NOUN
ajfa-2165	254	15	to	to	ADP
ajfa-2165	254	16	both	both	DET
ajfa-2165	254	17	spot	spot	NOUN
ajfa-2165	254	18	and	and	CCONJ
ajfa-2165	254	19	derivatives	derivative	NOUN
ajfa-2165	254	20	market	market	NOUN
ajfa-2165	254	21	.	.	PUNCT
ajfa-2165	255	1	at	at	ADP
ajfa-2165	255	2	the	the	DET
ajfa-2165	255	3	practical	practical	ADJ
ajfa-2165	255	4	level	level	NOUN
ajfa-2165	255	5	,	,	PUNCT
ajfa-2165	255	6	a	a	DET
ajfa-2165	255	7	better	well	ADJ
ajfa-2165	255	8	understanding	understanding	NOUN
ajfa-2165	255	9	of	of	ADP
ajfa-2165	255	10	the	the	DET
ajfa-2165	255	11	mean	mean	ADJ
ajfa-2165	255	12	and	and	CCONJ
ajfa-2165	255	13	variance	variance	NOUN
ajfa-2165	255	14	dynamics	dynamic	NOUN
ajfa-2165	255	15	of	of	ADP
ajfa-2165	255	16	the	the	DET
ajfa-2165	255	17	spot	spot	NOUN
ajfa-2165	255	18	and	and	CCONJ
ajfa-2165	255	19	futures	future	NOUN
ajfa-2165	255	20	market	market	NOUN
ajfa-2165	255	21	can	can	AUX
ajfa-2165	255	22	improve	improve	VERB
ajfa-2165	255	23	risk	risk	NOUN
ajfa-2165	255	24	management	management	NOUN
ajfa-2165	255	25	and	and	CCONJ
ajfa-2165	255	26	investment	investment	NOUN
ajfa-2165	255	27	decisions	decision	NOUN
ajfa-2165	255	28	of	of	ADP
ajfa-2165	255	29	the	the	DET
ajfa-2165	255	30	market	market	NOUN
ajfa-2165	255	31	agents	agent	NOUN
ajfa-2165	255	32	.	.	PUNCT
ajfa-2165	256	1	asian	asian	ADJ
ajfa-2165	256	2	journal	journal	PROPN
ajfa-2165	256	3	of	of	ADP
ajfa-2165	256	4	finance	finance	PROPN
ajfa-2165	256	5	&	&	CCONJ
ajfa-2165	256	6	accounting	accounting	PROPN
ajfa-2165	256	7	issn	issn	PROPN
ajfa-2165	256	8	1946	1946	NUM
ajfa-2165	256	9	-	-	PUNCT
ajfa-2165	256	10	052x	052x	NOUN
ajfa-2165	256	11	2013	2013	NUM
ajfa-2165	256	12	,	,	PUNCT
ajfa-2165	256	13	vol	vol	NOUN
ajfa-2165	256	14	.	.	PROPN
ajfa-2165	256	15	5	5	NUM
ajfa-2165	256	16	,	,	PUNCT
ajfa-2165	256	17	no	no	INTJ
ajfa-2165	256	18	.	.	NOUN
ajfa-2165	256	19	1	1	NUM
ajfa-2165	256	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	256	21	302	302	NUM
ajfa-2165	256	22	references	reference	NOUN
ajfa-2165	256	23	abhyankar	abhyankar	NOUN
ajfa-2165	256	24	,	,	PUNCT
ajfa-2165	256	25	a.	a.	PROPN
ajfa-2165	256	26	h.	h.	PROPN
ajfa-2165	256	27	(	(	PUNCT
ajfa-2165	256	28	1995	1995	NUM
ajfa-2165	256	29	)	)	PUNCT
ajfa-2165	256	30	.	.	PUNCT
ajfa-2165	257	1	return	return	NOUN
ajfa-2165	257	2	and	and	CCONJ
ajfa-2165	257	3	volatility	volatility	NOUN
ajfa-2165	257	4	dynamics	dynamic	NOUN
ajfa-2165	257	5	in	in	ADP
ajfa-2165	257	6	the	the	DET
ajfa-2165	257	7	ftse	ftse	PROPN
ajfa-2165	257	8	100	100	NUM
ajfa-2165	257	9	stock	stock	NOUN
ajfa-2165	257	10	index	index	NOUN
ajfa-2165	257	11	and	and	CCONJ
ajfa-2165	257	12	stock	stock	NOUN
ajfa-2165	257	13	index	index	NOUN
ajfa-2165	257	14	futures	future	NOUN
ajfa-2165	257	15	market	market	NOUN
ajfa-2165	257	16	.	.	PUNCT
ajfa-2165	258	1	journal	journal	PROPN
ajfa-2165	258	2	of	of	ADP
ajfa-2165	258	3	futures	future	NOUN
ajfa-2165	258	4	market	market	NOUN
ajfa-2165	258	5	,	,	PUNCT
ajfa-2165	258	6	15(4	15(4	NUM
ajfa-2165	258	7	)	)	PUNCT
ajfa-2165	258	8	,	,	PUNCT
ajfa-2165	258	9	457	457	NUM
ajfa-2165	258	10	-	-	SYM
ajfa-2165	258	11	488	488	NUM
ajfa-2165	258	12	.	.	PUNCT
ajfa-2165	259	1	http://dx.doi.org/10.1002/fut.3990150405	http://dx.doi.org/10.1002/fut.3990150405	PROPN
ajfa-2165	259	2	alexakis	alexaki	VERB
ajfa-2165	259	3	,	,	PUNCT
ajfa-2165	259	4	p.	p.	NOUN
ajfa-2165	259	5	(	(	PUNCT
ajfa-2165	259	6	2007	2007	NUM
ajfa-2165	259	7	)	)	PUNCT
ajfa-2165	259	8	.	.	PUNCT
ajfa-2165	260	1	on	on	ADP
ajfa-2165	260	2	the	the	DET
ajfa-2165	260	3	effect	effect	NOUN
ajfa-2165	260	4	of	of	ADP
ajfa-2165	260	5	index	index	NOUN
ajfa-2165	260	6	future	future	ADJ
ajfa-2165	260	7	trading	trading	NOUN
ajfa-2165	260	8	on	on	ADP
ajfa-2165	260	9	stock	stock	NOUN
ajfa-2165	260	10	market	market	NOUN
ajfa-2165	260	11	volatility	volatility	NOUN
ajfa-2165	260	12	.	.	PUNCT
ajfa-2165	261	1	international	international	ADJ
ajfa-2165	261	2	research	research	PROPN
ajfa-2165	261	3	journal	journal	NOUN
ajfa-2165	261	4	of	of	ADP
ajfa-2165	261	5	finance	finance	NOUN
ajfa-2165	261	6	and	and	CCONJ
ajfa-2165	261	7	economics	economic	NOUN
ajfa-2165	261	8	,	,	PUNCT
ajfa-2165	261	9	11	11	NUM
ajfa-2165	261	10	,	,	PUNCT
ajfa-2165	261	11	7	7	NUM
ajfa-2165	261	12	-	-	SYM
ajfa-2165	261	13	20	20	NUM
ajfa-2165	261	14	.	.	PUNCT
ajfa-2165	262	1	antoniou	antoniou	PROPN
ajfa-2165	262	2	,	,	PUNCT
ajfa-2165	262	3	a.	a.	PROPN
ajfa-2165	262	4	,	,	PUNCT
ajfa-2165	262	5	koutmos	koutmos	PROPN
ajfa-2165	262	6	,	,	PUNCT
ajfa-2165	262	7	g.	g.	PROPN
ajfa-2165	262	8	,	,	PUNCT
ajfa-2165	262	9	&	&	CCONJ
ajfa-2165	262	10	pericli	pericli	PROPN
ajfa-2165	262	11	,	,	PUNCT
ajfa-2165	262	12	a.	a.	NOUN
ajfa-2165	262	13	(	(	PUNCT
ajfa-2165	262	14	2005	2005	NUM
ajfa-2165	262	15	)	)	PUNCT
ajfa-2165	262	16	.	.	PUNCT
ajfa-2165	263	1	index	index	NOUN
ajfa-2165	263	2	futures	future	NOUN
ajfa-2165	263	3	and	and	CCONJ
ajfa-2165	263	4	positive	positive	ADJ
ajfa-2165	263	5	feedback	feedback	NOUN
ajfa-2165	263	6	trading	trading	NOUN
ajfa-2165	263	7	:	:	PUNCT
ajfa-2165	263	8	evidence	evidence	NOUN
ajfa-2165	263	9	from	from	ADP
ajfa-2165	263	10	major	major	ADJ
ajfa-2165	263	11	stock	stock	NOUN
ajfa-2165	263	12	exchanges	exchange	NOUN
ajfa-2165	263	13	.	.	PUNCT
ajfa-2165	264	1	journal	journal	NOUN
ajfa-2165	264	2	of	of	ADP
ajfa-2165	264	3	empirical	empirical	ADJ
ajfa-2165	264	4	finance	finance	NOUN
ajfa-2165	264	5	,	,	PUNCT
ajfa-2165	264	6	12	12	NUM
ajfa-2165	264	7	,	,	PUNCT
ajfa-2165	264	8	219–238	219–238	NUM
ajfa-2165	264	9	.	.	PUNCT
ajfa-2165	265	1	http://dx.doi.org/10.1016/j.jempfin.2003.11.003	http://dx.doi.org/10.1016/j.jempfin.2003.11.003	PROPN
ajfa-2165	265	2	arshanapali	arshanapali	PROPN
ajfa-2165	265	3	,	,	PUNCT
ajfa-2165	265	4	b.	b.	PROPN
ajfa-2165	265	5	,	,	PUNCT
ajfa-2165	265	6	&	&	CCONJ
ajfa-2165	265	7	doukas	doukas	PROPN
ajfa-2165	265	8	,	,	PUNCT
ajfa-2165	265	9	j	j	PROPN
ajfa-2165	265	10	(	(	PUNCT
ajfa-2165	265	11	1994	1994	NUM
ajfa-2165	265	12	)	)	PUNCT
ajfa-2165	265	13	.	.	PUNCT
ajfa-2165	266	1	common	common	ADJ
ajfa-2165	266	2	volatility	volatility	NOUN
ajfa-2165	266	3	in	in	ADP
ajfa-2165	266	4	s&p	s&p	PROPN
ajfa-2165	266	5	500	500	NUM
ajfa-2165	266	6	stock	stock	NOUN
ajfa-2165	266	7	index	index	NOUN
ajfa-2165	266	8	s&p	s&p	PROPN
ajfa-2165	266	9	500	500	NUM
ajfa-2165	266	10	index	index	NOUN
ajfa-2165	266	11	futures	future	NOUN
ajfa-2165	266	12	prices	price	NOUN
ajfa-2165	266	13	during	during	ADP
ajfa-2165	266	14	october	october	PROPN
ajfa-2165	266	15	1987	1987	NUM
ajfa-2165	266	16	.	.	PUNCT
ajfa-2165	267	1	journal	journal	PROPN
ajfa-2165	267	2	of	of	ADP
ajfa-2165	267	3	futures	future	NOUN
ajfa-2165	267	4	markets	market	NOUN
ajfa-2165	267	5	,	,	PUNCT
ajfa-2165	267	6	14(8	14(8	NUM
ajfa-2165	267	7	)	)	PUNCT
ajfa-2165	267	8	,	,	PUNCT
ajfa-2165	267	9	915925	915925	NUM
ajfa-2165	267	10	http://dx.doi.org/10.1002/fut.3990140805	http://dx.doi.org/10.1002/fut.3990140805	PROPN
ajfa-2165	267	11	becketti	becketti	PROPN
ajfa-2165	267	12	,	,	PUNCT
ajfa-2165	267	13	s.	s.	PROPN
ajfa-2165	267	14	,	,	PUNCT
ajfa-2165	267	15	&	&	CCONJ
ajfa-2165	267	16	roberts	roberts	PROPN
ajfa-2165	267	17	,	,	PUNCT
ajfa-2165	267	18	d.	d.	PROPN
ajfa-2165	267	19	-j	-j	PROPN
ajfa-2165	267	20	.	.	PUNCT
ajfa-2165	267	21	(	(	PUNCT
ajfa-2165	267	22	1990	1990	NUM
ajfa-2165	267	23	)	)	PUNCT
ajfa-2165	267	24	.	.	PUNCT
ajfa-2165	268	1	will	will	AUX
ajfa-2165	268	2	increased	increase	VERB
ajfa-2165	268	3	regulation	regulation	NOUN
ajfa-2165	268	4	of	of	ADP
ajfa-2165	268	5	stock	stock	NOUN
ajfa-2165	268	6	index	index	NOUN
ajfa-2165	268	7	futures	future	NOUN
ajfa-2165	268	8	reduce	reduce	VERB
ajfa-2165	268	9	stock	stock	NOUN
ajfa-2165	268	10	market	market	NOUN
ajfa-2165	268	11	volatility	volatility	NOUN
ajfa-2165	268	12	?	?	PUNCT
ajfa-2165	269	1	economic	economic	ADJ
ajfa-2165	269	2	review	review	NOUN
ajfa-2165	269	3	,	,	PUNCT
ajfa-2165	269	4	federal	federal	PROPN
ajfa-2165	269	5	reserve	reserve	PROPN
ajfa-2165	269	6	bank	bank	PROPN
ajfa-2165	269	7	of	of	ADP
ajfa-2165	269	8	kansas	kansas	PROPN
ajfa-2165	269	9	city	city	PROPN
ajfa-2165	269	10	,	,	PUNCT
ajfa-2165	269	11	33–46	33–46	NUM
ajfa-2165	269	12	.	.	PUNCT
ajfa-2165	269	13	bollerslev	bollerslev	PROPN
ajfa-2165	269	14	,	,	PUNCT
ajfa-2165	269	15	tim	tim	PROPN
ajfa-2165	269	16	.	.	PROPN
ajfa-2165	269	17	(	(	PUNCT
ajfa-2165	269	18	1986	1986	NUM
ajfa-2165	269	19	)	)	PUNCT
ajfa-2165	269	20	.	.	PUNCT
ajfa-2165	270	1	generalized	generalize	VERB
ajfa-2165	270	2	autoregressive	autoregressive	ADJ
ajfa-2165	270	3	conditional	conditional	ADJ
ajfa-2165	270	4	heteroscedasticity	heteroscedasticity	NOUN
ajfa-2165	270	5	.	.	PUNCT
ajfa-2165	270	6	journal	journal	PROPN
ajfa-2165	270	7	of	of	ADP
ajfa-2165	270	8	econometrics	econometric	NOUN
ajfa-2165	270	9	,	,	PUNCT
ajfa-2165	270	10	31(3	31(3	NUM
ajfa-2165	270	11	)	)	PUNCT
ajfa-2165	270	12	,	,	PUNCT
ajfa-2165	270	13	307	307	NUM
ajfa-2165	270	14	-	-	SYM
ajfa-2165	270	15	327	327	NUM
ajfa-2165	270	16	.	.	PUNCT
ajfa-2165	271	1	http://dx.doi.org/10.1016/0304-4076(86)90063-1	http://dx.doi.org/10.1016/0304-4076(86)90063-1	X
ajfa-2165	271	2	bollerslev	bollerslev	PROPN
ajfa-2165	271	3	,	,	PUNCT
ajfa-2165	271	4	t.	t.	PROPN
ajfa-2165	271	5	,	,	PUNCT
ajfa-2165	271	6	engle	engle	PROPN
ajfa-2165	271	7	,	,	PUNCT
ajfa-2165	271	8	r.	r.	PROPN
ajfa-2165	271	9	f.	f.	PROPN
ajfa-2165	271	10	,	,	PUNCT
ajfa-2165	271	11	&	&	CCONJ
ajfa-2165	271	12	nelson	nelson	PROPN
ajfa-2165	271	13	,	,	PUNCT
ajfa-2165	271	14	d.	d.	PROPN
ajfa-2165	271	15	(	(	PUNCT
ajfa-2165	271	16	1994	1994	NUM
ajfa-2165	271	17	)	)	PUNCT
ajfa-2165	271	18	arch	arch	NOUN
ajfa-2165	271	19	models	model	NOUN
ajfa-2165	271	20	,	,	PUNCT
ajfa-2165	271	21	handbook	handbook	NOUN
ajfa-2165	271	22	of	of	ADP
ajfa-2165	271	23	econometrics	econometric	NOUN
ajfa-2165	271	24	,	,	PUNCT
ajfa-2165	271	25	4	4	NUM
ajfa-2165	271	26	,	,	PUNCT
ajfa-2165	271	27	chapter	chapter	NOUN
ajfa-2165	271	28	49	49	NUM
ajfa-2165	271	29	.	.	PUNCT
ajfa-2165	272	1	bologna	bologna	NOUN
ajfa-2165	272	2	,	,	PUNCT
ajfa-2165	272	3	p.	p.	NOUN
ajfa-2165	272	4	,	,	PUNCT
ajfa-2165	272	5	&	&	CCONJ
ajfa-2165	272	6	cavallo	cavallo	PROPN
ajfa-2165	272	7	,	,	PUNCT
ajfa-2165	272	8	l.	l.	PROPN
ajfa-2165	272	9	(	(	PUNCT
ajfa-2165	272	10	2002	2002	NUM
ajfa-2165	272	11	)	)	PUNCT
ajfa-2165	272	12	.	.	PUNCT
ajfa-2165	273	1	does	do	AUX
ajfa-2165	273	2	the	the	DET
ajfa-2165	273	3	introduction	introduction	NOUN
ajfa-2165	273	4	of	of	ADP
ajfa-2165	273	5	stock	stock	NOUN
ajfa-2165	273	6	index	index	NOUN
ajfa-2165	273	7	futures	future	NOUN
ajfa-2165	273	8	effectively	effectively	ADV
ajfa-2165	273	9	reduce	reduce	VERB
ajfa-2165	273	10	stock	stock	NOUN
ajfa-2165	273	11	market	market	NOUN
ajfa-2165	273	12	volatility	volatility	NOUN
ajfa-2165	273	13	?	?	PUNCT
ajfa-2165	274	1	is	be	AUX
ajfa-2165	274	2	the	the	DET
ajfa-2165	274	3	‘	'	PUNCT
ajfa-2165	274	4	futures	future	NOUN
ajfa-2165	274	5	effect	effect	NOUN
ajfa-2165	274	6	’	'	PUNCT
ajfa-2165	274	7	immediate	immediate	ADJ
ajfa-2165	274	8	?	?	PUNCT
ajfa-2165	275	1	evidence	evidence	NOUN
ajfa-2165	275	2	from	from	ADP
ajfa-2165	275	3	the	the	DET
ajfa-2165	275	4	italian	italian	ADJ
ajfa-2165	275	5	stock	stock	NOUN
ajfa-2165	275	6	exchange	exchange	NOUN
ajfa-2165	275	7	using	use	VERB
ajfa-2165	275	8	garch	garch	NOUN
ajfa-2165	275	9	.	.	PUNCT
ajfa-2165	276	1	applied	apply	VERB
ajfa-2165	276	2	financial	financial	ADJ
ajfa-2165	276	3	economics	economic	NOUN
ajfa-2165	276	4	,	,	PUNCT
ajfa-2165	276	5	12	12	NUM
ajfa-2165	276	6	,	,	PUNCT
ajfa-2165	276	7	183–92	183–92	PROPN
ajfa-2165	276	8	.	.	PUNCT
ajfa-2165	277	1	http://dx.doi.org/10.1080/09603100110088085	http://dx.doi.org/10.1080/09603100110088085	PROPN
ajfa-2165	277	2	chan	chan	PROPN
ajfa-2165	277	3	,	,	PUNCT
ajfa-2165	277	4	k.	k.	PROPN
ajfa-2165	277	5	,	,	PUNCT
ajfa-2165	277	6	chan	chan	PROPN
ajfa-2165	277	7	,	,	PUNCT
ajfa-2165	277	8	k.	k.	PROPN
ajfa-2165	277	9	c.	c.	PROPN
ajfa-2165	277	10	,	,	PUNCT
ajfa-2165	277	11	&	&	CCONJ
ajfa-2165	277	12	karolyi	karolyi	PROPN
ajfa-2165	277	13	,	,	PUNCT
ajfa-2165	277	14	a.	a.	NOUN
ajfa-2165	277	15	g.	g.	PROPN
ajfa-2165	277	16	(	(	PUNCT
ajfa-2165	277	17	1991	1991	NUM
ajfa-2165	277	18	)	)	PUNCT
ajfa-2165	277	19	.	.	PUNCT
ajfa-2165	278	1	intraday	intraday	NOUN
ajfa-2165	278	2	volatility	volatility	NOUN
ajfa-2165	278	3	in	in	ADP
ajfa-2165	278	4	the	the	DET
ajfa-2165	278	5	stock	stock	NOUN
ajfa-2165	278	6	index	index	NOUN
ajfa-2165	278	7	and	and	CCONJ
ajfa-2165	278	8	stock	stock	NOUN
ajfa-2165	278	9	index	index	NOUN
ajfa-2165	278	10	futures	future	NOUN
ajfa-2165	278	11	markets	market	NOUN
ajfa-2165	278	12	.	.	PUNCT
ajfa-2165	279	1	the	the	DET
ajfa-2165	279	2	review	review	NOUN
ajfa-2165	279	3	of	of	ADP
ajfa-2165	279	4	financial	financial	ADJ
ajfa-2165	279	5	studies	study	NOUN
ajfa-2165	279	6	,	,	PUNCT
ajfa-2165	279	7	4(4	4(4	NUM
ajfa-2165	279	8	)	)	PUNCT
ajfa-2165	279	9	,	,	PUNCT
ajfa-2165	279	10	657–684	657–684	NUM
ajfa-2165	279	11	.	.	PUNCT
ajfa-2165	280	1	http://dx.doi.org/10.1093/rfs/4.4.657	http://dx.doi.org/10.1093/rfs/4.4.657	PROPN
ajfa-2165	280	2	chan	chan	PROPN
ajfa-2165	280	3	,	,	PUNCT
ajfa-2165	280	4	k.	k.	PROPN
ajfa-2165	280	5	(	(	PUNCT
ajfa-2165	280	6	1992	1992	NUM
ajfa-2165	280	7	)	)	PUNCT
ajfa-2165	280	8	.	.	PUNCT
ajfa-2165	281	1	a	a	DET
ajfa-2165	281	2	further	further	ADJ
ajfa-2165	281	3	analysis	analysis	NOUN
ajfa-2165	281	4	of	of	ADP
ajfa-2165	281	5	the	the	DET
ajfa-2165	281	6	lead	lead	ADJ
ajfa-2165	281	7	-	-	PUNCT
ajfa-2165	281	8	lag	lag	NOUN
ajfa-2165	281	9	relationship	relationship	NOUN
ajfa-2165	281	10	between	between	ADP
ajfa-2165	281	11	the	the	DET
ajfa-2165	281	12	cash	cash	NOUN
ajfa-2165	281	13	market	market	NOUN
ajfa-2165	281	14	and	and	CCONJ
ajfa-2165	281	15	stock	stock	NOUN
ajfa-2165	281	16	index	index	NOUN
ajfa-2165	281	17	futures	future	NOUN
ajfa-2165	281	18	market	market	NOUN
ajfa-2165	281	19	.	.	PUNCT
ajfa-2165	282	1	review	review	NOUN
ajfa-2165	282	2	of	of	ADP
ajfa-2165	282	3	financial	financial	ADJ
ajfa-2165	282	4	studies	study	NOUN
ajfa-2165	282	5	,	,	PUNCT
ajfa-2165	282	6	5(1	5(1	NUM
ajfa-2165	282	7	)	)	PUNCT
ajfa-2165	282	8	,	,	PUNCT
ajfa-2165	282	9	123	123	NUM
ajfa-2165	282	10	-	-	SYM
ajfa-2165	282	11	152	152	NUM
ajfa-2165	282	12	.	.	PUNCT
ajfa-2165	283	1	http://dx.doi.org/10.1093/rfs/5.1.123	http://dx.doi.org/10.1093/rfs/5.1.123	PROPN
ajfa-2165	283	2	chiang	chiang	PROPN
ajfa-2165	283	3	,	,	PUNCT
ajfa-2165	283	4	h.	h.	PROPN
ajfa-2165	283	5	c.	c.	PROPN
ajfa-2165	283	6	,	,	PUNCT
ajfa-2165	283	7	&	&	CCONJ
ajfa-2165	283	8	c.	c.	PROPN
ajfa-2165	283	9	y.	y.	PROPN
ajfa-2165	283	10	,	,	PUNCT
ajfa-2165	283	11	wang	wang	PROPN
ajfa-2165	283	12	(	(	PUNCT
ajfa-2165	283	13	2002	2002	NUM
ajfa-2165	283	14	)	)	PUNCT
ajfa-2165	283	15	,	,	PUNCT
ajfa-2165	283	16	the	the	DET
ajfa-2165	283	17	impact	impact	NOUN
ajfa-2165	283	18	of	of	ADP
ajfa-2165	283	19	futures	future	NOUN
ajfa-2165	283	20	trading	trading	NOUN
ajfa-2165	283	21	on	on	ADP
ajfa-2165	283	22	the	the	DET
ajfa-2165	283	23	spot	spot	NOUN
ajfa-2165	283	24	index	index	NOUN
ajfa-2165	283	25	volatility	volatility	NOUN
ajfa-2165	283	26	:	:	PUNCT
ajfa-2165	283	27	evidence	evidence	NOUN
ajfa-2165	283	28	for	for	ADP
ajfa-2165	283	29	taiwan	taiwan	PROPN
ajfa-2165	283	30	index	index	NOUN
ajfa-2165	283	31	futures	future	NOUN
ajfa-2165	283	32	.	.	PUNCT
ajfa-2165	284	1	applied	apply	VERB
ajfa-2165	284	2	financial	financial	ADJ
ajfa-2165	284	3	letters	letter	NOUN
ajfa-2165	284	4	,	,	PUNCT
ajfa-2165	284	5	9	9	NUM
ajfa-2165	284	6	,	,	PUNCT
ajfa-2165	284	7	381	381	NUM
ajfa-2165	284	8	-	-	SYM
ajfa-2165	284	9	385	385	NUM
ajfa-2165	284	10	.	.	PUNCT
ajfa-2165	285	1	cox	cox	PROPN
ajfa-2165	285	2	,	,	PUNCT
ajfa-2165	285	3	c.	c.	PROPN
ajfa-2165	285	4	c.	c.	PROPN
ajfa-2165	285	5	(	(	PUNCT
ajfa-2165	285	6	1976	1976	NUM
ajfa-2165	285	7	)	)	PUNCT
ajfa-2165	285	8	.	.	PUNCT
ajfa-2165	286	1	futures	future	NOUN
ajfa-2165	286	2	trading	trading	NOUN
ajfa-2165	286	3	and	and	CCONJ
ajfa-2165	286	4	market	market	NOUN
ajfa-2165	286	5	information	information	NOUN
ajfa-2165	286	6	.	.	PUNCT
ajfa-2165	287	1	journal	journal	NOUN
ajfa-2165	287	2	of	of	ADP
ajfa-2165	287	3	political	political	ADJ
ajfa-2165	287	4	economy	economy	NOUN
ajfa-2165	287	5	,	,	PUNCT
ajfa-2165	287	6	84	84	NUM
ajfa-2165	287	7	,	,	PUNCT
ajfa-2165	287	8	1215–1237	1215–1237	NUM
ajfa-2165	287	9	.	.	PUNCT
ajfa-2165	287	10	http://dx.doi.org/10.1086/260509	http://dx.doi.org/10.1086/260509	PROPN
ajfa-2165	287	11	darrat	darrat	PROPN
ajfa-2165	287	12	,	,	PUNCT
ajfa-2165	287	13	a.	a.	PROPN
ajfa-2165	287	14	f.	f.	PROPN
ajfa-2165	287	15	,	,	PUNCT
ajfa-2165	287	16	&	&	CCONJ
ajfa-2165	287	17	rahman	rahman	PROPN
ajfa-2165	287	18	,	,	PUNCT
ajfa-2165	287	19	s.	s.	PROPN
ajfa-2165	287	20	(	(	PUNCT
ajfa-2165	287	21	1995	1995	NUM
ajfa-2165	287	22	)	)	PUNCT
ajfa-2165	287	23	.	.	PUNCT
ajfa-2165	288	1	has	have	AUX
ajfa-2165	288	2	futures	future	NOUN
ajfa-2165	288	3	trading	trading	NOUN
ajfa-2165	288	4	activity	activity	NOUN
ajfa-2165	288	5	caused	cause	VERB
ajfa-2165	288	6	stock	stock	NOUN
ajfa-2165	288	7	price	price	NOUN
ajfa-2165	288	8	volatility	volatility	NOUN
ajfa-2165	288	9	?	?	PUNCT
ajfa-2165	289	1	journal	journal	NOUN
ajfa-2165	289	2	of	of	ADP
ajfa-2165	289	3	futures	future	NOUN
ajfa-2165	289	4	markets	market	NOUN
ajfa-2165	289	5	,	,	PUNCT
ajfa-2165	289	6	15	15	NUM
ajfa-2165	289	7	,	,	PUNCT
ajfa-2165	289	8	537–557	537–557	NUM
ajfa-2165	289	9	.	.	PUNCT
ajfa-2165	289	10	http://dx.doi.org/10.1002/fut.3990150503	http://dx.doi.org/10.1002/fut.3990150503	PROPN
ajfa-2165	289	11	asian	asian	PROPN
ajfa-2165	289	12	journal	journal	PROPN
ajfa-2165	289	13	of	of	ADP
ajfa-2165	289	14	finance	finance	PROPN
ajfa-2165	289	15	&	&	CCONJ
ajfa-2165	289	16	accounting	accounting	PROPN
ajfa-2165	289	17	issn	issn	PROPN
ajfa-2165	289	18	1946	1946	NUM
ajfa-2165	289	19	-	-	PUNCT
ajfa-2165	289	20	052x	052x	NOUN
ajfa-2165	289	21	2013	2013	NUM
ajfa-2165	289	22	,	,	PUNCT
ajfa-2165	289	23	vol	vol	NOUN
ajfa-2165	289	24	.	.	PROPN
ajfa-2165	289	25	5	5	NUM
ajfa-2165	289	26	,	,	PUNCT
ajfa-2165	289	27	no	no	INTJ
ajfa-2165	289	28	.	.	NOUN
ajfa-2165	289	29	1	1	NUM
ajfa-2165	289	30	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	289	31	303	303	NUM
ajfa-2165	289	32	dennis	dennis	PROPN
ajfa-2165	289	33	s.	s.	PROPN
ajfa-2165	289	34	a.	a.	PROPN
ajfa-2165	289	35	,	,	PUNCT
ajfa-2165	289	36	&	&	CCONJ
ajfa-2165	289	37	a.	a.	PROPN
ajfa-2165	289	38	b.	b.	PROPN
ajfa-2165	289	39	sim	sim	PROPN
ajfa-2165	289	40	(	(	PUNCT
ajfa-2165	289	41	1999	1999	NUM
ajfa-2165	289	42	)	)	PUNCT
ajfa-2165	289	43	,	,	PUNCT
ajfa-2165	289	44	share	share	NOUN
ajfa-2165	289	45	price	price	NOUN
ajfa-2165	289	46	volatility	volatility	NOUN
ajfa-2165	289	47	with	with	ADP
ajfa-2165	289	48	the	the	DET
ajfa-2165	289	49	introduction	introduction	NOUN
ajfa-2165	289	50	of	of	ADP
ajfa-2165	289	51	individual	individual	ADJ
ajfa-2165	289	52	share	share	NOUN
ajfa-2165	289	53	futures	future	NOUN
ajfa-2165	289	54	on	on	ADP
ajfa-2165	289	55	sydney	sydney	PROPN
ajfa-2165	289	56	futures	futures	PROPN
ajfa-2165	289	57	exchange	exchange	PROPN
ajfa-2165	289	58	.	.	PUNCT
ajfa-2165	290	1	international	international	ADJ
ajfa-2165	290	2	review	review	NOUN
ajfa-2165	290	3	of	of	ADP
ajfa-2165	290	4	financial	financial	ADJ
ajfa-2165	290	5	analysis	analysis	NOUN
ajfa-2165	290	6	,	,	PUNCT
ajfa-2165	290	7	8	8	NUM
ajfa-2165	290	8	,	,	PUNCT
ajfa-2165	290	9	153	153	NUM
ajfa-2165	290	10	-	-	SYM
ajfa-2165	290	11	163	163	NUM
ajfa-2165	290	12	.	.	PUNCT
ajfa-2165	291	1	http://dx.doi.org/10.1016/s1057-5219(99)00013-7	http://dx.doi.org/10.1016/s1057-5219(99)00013-7	PROPN
ajfa-2165	291	2	dickey	dickey	PROPN
ajfa-2165	291	3	,	,	PUNCT
ajfa-2165	291	4	david	david	PROPN
ajfa-2165	291	5	a.	a.	PROPN
ajfa-2165	291	6	,	,	PUNCT
ajfa-2165	291	7	&	&	CCONJ
ajfa-2165	291	8	fuller	full	ADJ
ajfa-2165	291	9	,	,	PUNCT
ajfa-2165	291	10	wayne	wayne	PROPN
ajfa-2165	291	11	a.	a.	PROPN
ajfa-2165	291	12	,	,	PUNCT
ajfa-2165	291	13	(	(	PUNCT
ajfa-2165	291	14	1981	1981	NUM
ajfa-2165	291	15	)	)	PUNCT
ajfa-2165	291	16	.	.	PUNCT
ajfa-2165	292	1	likelihood	likelihood	NOUN
ajfa-2165	292	2	ratio	ratio	NOUN
ajfa-2165	292	3	statistics	statistic	NOUN
ajfa-2165	292	4	for	for	ADP
ajfa-2165	292	5	autoregressive	autoregressive	ADJ
ajfa-2165	292	6	time	time	NOUN
ajfa-2165	292	7	series	series	NOUN
ajfa-2165	292	8	with	with	ADP
ajfa-2165	292	9	a	a	DET
ajfa-2165	292	10	unit	unit	NOUN
ajfa-2165	292	11	root	root	NOUN
ajfa-2165	292	12	.	.	PUNCT
ajfa-2165	293	1	econometrica	econometrica	PROPN
ajfa-2165	293	2	,	,	PUNCT
ajfa-2165	293	3	econometric	econometric	ADJ
ajfa-2165	293	4	society	society	NOUN
ajfa-2165	293	5	,	,	PUNCT
ajfa-2165	293	6	49(4	49(4	NOUN
ajfa-2165	293	7	)	)	PUNCT
ajfa-2165	293	8	,	,	PUNCT
ajfa-2165	293	9	1057	1057	NUM
ajfa-2165	293	10	-	-	SYM
ajfa-2165	293	11	72	72	NUM
ajfa-2165	293	12	.	.	PUNCT
ajfa-2165	294	1	edwards	edwards	PROPN
ajfa-2165	294	2	,	,	PUNCT
ajfa-2165	294	3	r.	r.	PROPN
ajfa-2165	294	4	f.	f.	PROPN
ajfa-2165	294	5	(	(	PUNCT
ajfa-2165	294	6	1988a	1988a	NUM
ajfa-2165	294	7	)	)	PUNCT
ajfa-2165	294	8	.	.	PUNCT
ajfa-2165	295	1	does	do	AUX
ajfa-2165	295	2	futures	future	NOUN
ajfa-2165	295	3	trading	trading	NOUN
ajfa-2165	295	4	increase	increase	VERB
ajfa-2165	295	5	stock	stock	NOUN
ajfa-2165	295	6	market	market	NOUN
ajfa-2165	295	7	volatility	volatility	NOUN
ajfa-2165	295	8	?	?	PUNCT
ajfa-2165	296	1	financial	financial	ADJ
ajfa-2165	296	2	analyst	analyst	NOUN
ajfa-2165	296	3	journal	journal	NOUN
ajfa-2165	296	4	,	,	PUNCT
ajfa-2165	296	5	44	44	NUM
ajfa-2165	296	6	,	,	PUNCT
ajfa-2165	296	7	63–69	63–69	NUM
ajfa-2165	296	8	.	.	PUNCT
ajfa-2165	297	1	http://dx.doi.org/10.2469/faj.v44.n1.63	http://dx.doi.org/10.2469/faj.v44.n1.63	PROPN
ajfa-2165	297	2	edwards	edwards	PROPN
ajfa-2165	297	3	,	,	PUNCT
ajfa-2165	297	4	r.	r.	PROPN
ajfa-2165	297	5	f.	f.	PROPN
ajfa-2165	297	6	(	(	PUNCT
ajfa-2165	297	7	1988b	1988b	NUM
ajfa-2165	297	8	)	)	PUNCT
ajfa-2165	297	9	.	.	PUNCT
ajfa-2165	298	1	policies	policy	NOUN
ajfa-2165	298	2	to	to	PART
ajfa-2165	298	3	curb	curb	VERB
ajfa-2165	298	4	stock	stock	NOUN
ajfa-2165	298	5	market	market	NOUN
ajfa-2165	298	6	volatility	volatility	NOUN
ajfa-2165	298	7	.	.	PUNCT
ajfa-2165	299	1	columbia	columbia	PROPN
ajfa-2165	299	2	university	university	PROPN
ajfa-2165	299	3	working	working	NOUN
ajfa-2165	299	4	papers	paper	NOUN
ajfa-2165	299	5	,	,	PUNCT
ajfa-2165	299	6	141–184	141–184	NUM
ajfa-2165	299	7	.	.	PUNCT
ajfa-2165	300	1	engle	engle	PROPN
ajfa-2165	300	2	,	,	PUNCT
ajfa-2165	300	3	r.f	r.f	PROPN
ajfa-2165	300	4	.	.	PROPN
ajfa-2165	300	5	(	(	PUNCT
ajfa-2165	300	6	1982	1982	NUM
ajfa-2165	300	7	)	)	PUNCT
ajfa-2165	300	8	.	.	PUNCT
ajfa-2165	301	1	autoregressive	autoregressive	ADJ
ajfa-2165	301	2	conditional	conditional	ADJ
ajfa-2165	301	3	heteroscedasticity	heteroscedasticity	NOUN
ajfa-2165	301	4	with	with	ADP
ajfa-2165	301	5	estimates	estimate	NOUN
ajfa-2165	301	6	of	of	ADP
ajfa-2165	301	7	the	the	DET
ajfa-2165	301	8	variance	variance	NOUN
ajfa-2165	301	9	of	of	ADP
ajfa-2165	301	10	united	united	PROPN
ajfa-2165	301	11	kingdom	kingdom	PROPN
ajfa-2165	301	12	inflation	inflation	NOUN
ajfa-2165	301	13	.	.	PUNCT
ajfa-2165	302	1	econometrica	econometrica	PROPN
ajfa-2165	302	2	,	,	PUNCT
ajfa-2165	302	3	50(4	50(4	NUM
ajfa-2165	302	4	)	)	PUNCT
ajfa-2165	302	5	,	,	PUNCT
ajfa-2165	302	6	987	987	NUM
ajfa-2165	302	7	-	-	SYM
ajfa-2165	302	8	1008	1008	NUM
ajfa-2165	302	9	.	.	PUNCT
ajfa-2165	303	1	http://dx.doi.org/10.2307/1912773	http://dx.doi.org/10.2307/1912773	PROPN
ajfa-2165	303	2	engle	engle	PROPN
ajfa-2165	303	3	,	,	PUNCT
ajfa-2165	303	4	r.f	r.f	PROPN
ajfa-2165	303	5	.	.	PROPN
ajfa-2165	303	6	&	&	CCONJ
ajfa-2165	303	7	ng	ng	PROPN
ajfa-2165	303	8	,	,	PUNCT
ajfa-2165	303	9	v.	v.	PROPN
ajfa-2165	303	10	(	(	PUNCT
ajfa-2165	303	11	1993	1993	NUM
ajfa-2165	303	12	)	)	PUNCT
ajfa-2165	303	13	.	.	PUNCT
ajfa-2165	304	1	measuring	measure	VERB
ajfa-2165	304	2	and	and	CCONJ
ajfa-2165	304	3	testing	test	VERB
ajfa-2165	304	4	the	the	DET
ajfa-2165	304	5	impact	impact	NOUN
ajfa-2165	304	6	of	of	ADP
ajfa-2165	304	7	news	news	NOUN
ajfa-2165	304	8	on	on	ADP
ajfa-2165	304	9	volatility	volatility	NOUN
ajfa-2165	304	10	.	.	PUNCT
ajfa-2165	305	1	the	the	DET
ajfa-2165	305	2	journal	journal	PROPN
ajfa-2165	305	3	of	of	ADP
ajfa-2165	305	4	finance	finance	NOUN
ajfa-2165	305	5	,	,	PUNCT
ajfa-2165	305	6	48	48	NUM
ajfa-2165	305	7	,	,	PUNCT
ajfa-2165	305	8	1749	1749	NUM
ajfa-2165	305	9	-	-	SYM
ajfa-2165	305	10	1778	1778	NUM
ajfa-2165	305	11	.	.	PUNCT
ajfa-2165	306	1	http://dx.doi.org/10.2307/2329066	http://dx.doi.org/10.2307/2329066	PROPN
ajfa-2165	306	2	figlewski	figlewski	PROPN
ajfa-2165	306	3	,	,	PUNCT
ajfa-2165	306	4	s.	s.	PROPN
ajfa-2165	306	5	(	(	PUNCT
ajfa-2165	306	6	1978	1978	NUM
ajfa-2165	306	7	)	)	PUNCT
ajfa-2165	306	8	.	.	PUNCT
ajfa-2165	307	1	market	market	NOUN
ajfa-2165	307	2	“	"	PUNCT
ajfa-2165	307	3	efficiency	efficiency	NOUN
ajfa-2165	307	4	”	"	PUNCT
ajfa-2165	307	5	in	in	ADP
ajfa-2165	307	6	a	a	DET
ajfa-2165	307	7	market	market	NOUN
ajfa-2165	307	8	with	with	ADP
ajfa-2165	307	9	hetrogeneous	hetrogeneous	ADJ
ajfa-2165	307	10	information	information	NOUN
ajfa-2165	307	11	.	.	PUNCT
ajfa-2165	308	1	journal	journal	NOUN
ajfa-2165	308	2	of	of	ADP
ajfa-2165	308	3	political	political	ADJ
ajfa-2165	308	4	economy	economy	NOUN
ajfa-2165	308	5	,	,	PUNCT
ajfa-2165	308	6	86(4	86(4	NUM
ajfa-2165	308	7	)	)	PUNCT
ajfa-2165	308	8	,	,	PUNCT
ajfa-2165	308	9	581	581	NUM
ajfa-2165	308	10	-	-	SYM
ajfa-2165	308	11	597	597	NUM
ajfa-2165	308	12	.	.	PUNCT
ajfa-2165	309	1	http://dx.doi.org/10.1086/260700	http://dx.doi.org/10.1086/260700	PROPN
ajfa-2165	309	2	figlewski	figlewski	PROPN
ajfa-2165	309	3	,	,	PUNCT
ajfa-2165	309	4	s.	s.	PROPN
ajfa-2165	309	5	(	(	PUNCT
ajfa-2165	309	6	1981	1981	NUM
ajfa-2165	309	7	)	)	PUNCT
ajfa-2165	309	8	.	.	PUNCT
ajfa-2165	310	1	futures	future	NOUN
ajfa-2165	310	2	trading	trading	NOUN
ajfa-2165	310	3	and	and	CCONJ
ajfa-2165	310	4	volatility	volatility	NOUN
ajfa-2165	310	5	in	in	ADP
ajfa-2165	310	6	the	the	DET
ajfa-2165	310	7	gnma	gnma	NOUN
ajfa-2165	310	8	market	market	NOUN
ajfa-2165	310	9	.	.	PUNCT
ajfa-2165	311	1	journal	journal	PROPN
ajfa-2165	311	2	of	of	ADP
ajfa-2165	311	3	finance	finance	NOUN
ajfa-2165	311	4	,	,	PUNCT
ajfa-2165	311	5	36(1	36(1	NUM
ajfa-2165	311	6	)	)	PUNCT
ajfa-2165	311	7	,	,	PUNCT
ajfa-2165	311	8	445	445	NUM
ajfa-2165	311	9	-	-	SYM
ajfa-2165	311	10	56	56	NUM
ajfa-2165	311	11	.	.	PUNCT
ajfa-2165	312	1	http://dx.doi.org/10.2307/2327030	http://dx.doi.org/10.2307/2327030	PROPN
ajfa-2165	312	2	froot	froot	PROPN
ajfa-2165	312	3	,	,	PUNCT
ajfa-2165	312	4	k.	k.	PROPN
ajfa-2165	312	5	a.	a.	PROPN
ajfa-2165	312	6	,	,	PUNCT
ajfa-2165	312	7	&	&	CCONJ
ajfa-2165	312	8	perold	perold	PROPN
ajfa-2165	312	9	,	,	PUNCT
ajfa-2165	312	10	a.	a.	PROPN
ajfa-2165	312	11	f.	f.	PROPN
ajfa-2165	312	12	(	(	PUNCT
ajfa-2165	312	13	1995	1995	NUM
ajfa-2165	312	14	)	)	PUNCT
ajfa-2165	312	15	.	.	PUNCT
ajfa-2165	313	1	new	new	ADJ
ajfa-2165	313	2	trading	trading	NOUN
ajfa-2165	313	3	practices	practice	NOUN
ajfa-2165	313	4	and	and	CCONJ
ajfa-2165	313	5	short	short	ADJ
ajfa-2165	313	6	-	-	PUNCT
ajfa-2165	313	7	run	run	NOUN
ajfa-2165	313	8	market	market	NOUN
ajfa-2165	313	9	efficiency	efficiency	NOUN
ajfa-2165	313	10	.	.	PUNCT
ajfa-2165	314	1	the	the	DET
ajfa-2165	314	2	journal	journal	PROPN
ajfa-2165	314	3	of	of	ADP
ajfa-2165	314	4	futures	future	NOUN
ajfa-2165	314	5	markets	market	NOUN
ajfa-2165	314	6	,	,	PUNCT
ajfa-2165	314	7	15(7	15(7	NUM
ajfa-2165	314	8	)	)	PUNCT
ajfa-2165	314	9	,	,	PUNCT
ajfa-2165	314	10	731	731	NUM
ajfa-2165	314	11	-	-	SYM
ajfa-2165	314	12	765	765	NUM
ajfa-2165	314	13	.	.	PUNCT
ajfa-2165	315	1	http://dx.doi.org/10.1002/fut.3990150702	http://dx.doi.org/10.1002/fut.3990150702	PROPN
ajfa-2165	315	2	garbade	garbade	PROPN
ajfa-2165	315	3	k.d	k.d	PROPN
ajfa-2165	315	4	.	.	PROPN
ajfa-2165	315	5	,	,	PUNCT
ajfa-2165	315	6	&	&	CCONJ
ajfa-2165	315	7	silber	silber	PROPN
ajfa-2165	315	8	w.l	w.l	PROPN
ajfa-2165	315	9	.	.	PROPN
ajfa-2165	315	10	(	(	PUNCT
ajfa-2165	315	11	1983	1983	NUM
ajfa-2165	315	12	)	)	PUNCT
ajfa-2165	315	13	.	.	PUNCT
ajfa-2165	316	1	price	price	NOUN
ajfa-2165	316	2	movements	movement	NOUN
ajfa-2165	316	3	and	and	CCONJ
ajfa-2165	316	4	price	price	NOUN
ajfa-2165	316	5	discovery	discovery	NOUN
ajfa-2165	316	6	in	in	ADP
ajfa-2165	316	7	futures	future	NOUN
ajfa-2165	316	8	and	and	CCONJ
ajfa-2165	316	9	cash	cash	NOUN
ajfa-2165	316	10	markets	market	NOUN
ajfa-2165	316	11	.	.	PUNCT
ajfa-2165	317	1	the	the	DET
ajfa-2165	317	2	review	review	NOUN
ajfa-2165	317	3	of	of	ADP
ajfa-2165	317	4	econometrics	econometric	NOUN
ajfa-2165	317	5	and	and	CCONJ
ajfa-2165	317	6	statistics	statistic	NOUN
ajfa-2165	317	7	,	,	PUNCT
ajfa-2165	317	8	65(2	65(2	NOUN
ajfa-2165	317	9	)	)	PUNCT
ajfa-2165	317	10	,	,	PUNCT
ajfa-2165	317	11	289-297.http://dx.doi.org/10.2307/1924495	289-297.http://dx.doi.org/10.2307/1924495	NUM
ajfa-2165	317	12	greene	greene	PROPN
ajfa-2165	317	13	,	,	PUNCT
ajfa-2165	317	14	w.	w.	PROPN
ajfa-2165	317	15	(	(	PUNCT
ajfa-2165	317	16	1997	1997	NUM
ajfa-2165	317	17	)	)	PUNCT
ajfa-2165	317	18	.	.	PUNCT
ajfa-2165	318	1	econometric	econometric	ADJ
ajfa-2165	318	2	analysis	analysis	NOUN
ajfa-2165	318	3	,	,	PUNCT
ajfa-2165	318	4	3rd	3rd	ADJ
ajfa-2165	318	5	edition	edition	NOUN
ajfa-2165	318	6	.	.	PUNCT
ajfa-2165	319	1	macmillan	macmillan	PROPN
ajfa-2165	319	2	publishing	publishing	PROPN
ajfa-2165	319	3	company	company	NOUN
ajfa-2165	319	4	,	,	PUNCT
ajfa-2165	319	5	new	new	PROPN
ajfa-2165	319	6	york	york	PROPN
ajfa-2165	319	7	.	.	PUNCT
ajfa-2165	320	1	ghosh	ghosh	PROPN
ajfa-2165	320	2	,	,	PUNCT
ajfa-2165	320	3	a	a	PRON
ajfa-2165	320	4	(	(	PUNCT
ajfa-2165	320	5	1993	1993	NUM
ajfa-2165	320	6	)	)	PUNCT
ajfa-2165	320	7	.	.	PUNCT
ajfa-2165	321	1	cointegration	cointegration	NOUN
ajfa-2165	321	2	and	and	CCONJ
ajfa-2165	321	3	error	error	NOUN
ajfa-2165	321	4	correction	correction	NOUN
ajfa-2165	321	5	models	model	NOUN
ajfa-2165	321	6	:	:	PUNCT
ajfa-2165	321	7	intertemporal	intertemporal	ADJ
ajfa-2165	321	8	causality	causality	NOUN
ajfa-2165	321	9	between	between	ADP
ajfa-2165	321	10	index	index	NOUN
ajfa-2165	321	11	and	and	CCONJ
ajfa-2165	321	12	futures	future	NOUN
ajfa-2165	321	13	prices	price	NOUN
ajfa-2165	321	14	.	.	PUNCT
ajfa-2165	322	1	journal	journal	PROPN
ajfa-2165	322	2	of	of	ADP
ajfa-2165	322	3	futures	future	NOUN
ajfa-2165	322	4	markets	market	NOUN
ajfa-2165	322	5	,	,	PUNCT
ajfa-2165	322	6	13(2	13(2	PROPN
ajfa-2165	322	7	)	)	PUNCT
ajfa-2165	322	8	,	,	PUNCT
ajfa-2165	322	9	193	193	NUM
ajfa-2165	322	10	-	-	SYM
ajfa-2165	322	11	198	198	NUM
ajfa-2165	322	12	.	.	PUNCT
ajfa-2165	323	1	http://dx.doi.org/10.1002/fut.3990130206	http://dx.doi.org/10.1002/fut.3990130206	PROPN
ajfa-2165	323	2	gulen	gulen	PROPN
ajfa-2165	323	3	,	,	PUNCT
ajfa-2165	323	4	h.	h.	PROPN
ajfa-2165	323	5	,	,	PUNCT
ajfa-2165	323	6	&	&	CCONJ
ajfa-2165	323	7	mayhew	mayhew	PROPN
ajfa-2165	323	8	,	,	PUNCT
ajfa-2165	323	9	s.	s.	PROPN
ajfa-2165	323	10	(	(	PUNCT
ajfa-2165	323	11	2000	2000	NUM
ajfa-2165	323	12	)	)	PUNCT
ajfa-2165	323	13	.	.	PUNCT
ajfa-2165	324	1	stock	stock	NOUN
ajfa-2165	324	2	index	index	PROPN
ajfa-2165	324	3	futures	future	NOUN
ajfa-2165	324	4	trading	trading	NOUN
ajfa-2165	324	5	and	and	CCONJ
ajfa-2165	324	6	volatility	volatility	NOUN
ajfa-2165	324	7	in	in	ADP
ajfa-2165	324	8	international	international	ADJ
ajfa-2165	324	9	equity	equity	NOUN
ajfa-2165	324	10	markets	market	NOUN
ajfa-2165	324	11	.	.	PUNCT
ajfa-2165	325	1	the	the	DET
ajfa-2165	325	2	journal	journal	PROPN
ajfa-2165	325	3	of	of	ADP
ajfa-2165	325	4	futures	future	NOUN
ajfa-2165	325	5	market	market	NOUN
ajfa-2165	325	6	,	,	PUNCT
ajfa-2165	325	7	20(7	20(7	NUM
ajfa-2165	325	8	)	)	PUNCT
ajfa-2165	325	9	,	,	PUNCT
ajfa-2165	325	10	661–685	661–685	NUM
ajfa-2165	325	11	.	.	PUNCT
ajfa-2165	326	1	http://dx.doi.org/10.1002/1096-9934(200008)20:7<661::aid-fut3>3.0.co;2-r	http://dx.doi.org/10.1002/1096-9934(200008)20:7<661::aid-fut3>3.0.co;2-r	SCONJ
ajfa-2165	326	2	glosten	glosten	PROPN
ajfa-2165	326	3	,	,	PUNCT
ajfa-2165	326	4	l.	l.	PROPN
ajfa-2165	326	5	r.	r.	PROPN
ajfa-2165	326	6	,	,	PUNCT
ajfa-2165	326	7	r.	r.	PROPN
ajfa-2165	326	8	jaganathan	jaganathan	PROPN
ajfa-2165	326	9	,	,	PUNCT
ajfa-2165	326	10	&	&	CCONJ
ajfa-2165	326	11	d.	d.	PROPN
ajfa-2165	326	12	e.	e.	PROPN
ajfa-2165	326	13	runkle	runkle	PROPN
ajfa-2165	326	14	(	(	PUNCT
ajfa-2165	326	15	1993	1993	NUM
ajfa-2165	326	16	)	)	PUNCT
ajfa-2165	326	17	,	,	PUNCT
ajfa-2165	326	18	on	on	ADP
ajfa-2165	326	19	the	the	DET
ajfa-2165	326	20	relation	relation	NOUN
ajfa-2165	326	21	between	between	ADP
ajfa-2165	326	22	the	the	DET
ajfa-2165	326	23	expected	expect	VERB
ajfa-2165	326	24	value	value	NOUN
ajfa-2165	326	25	and	and	CCONJ
ajfa-2165	326	26	the	the	DET
ajfa-2165	326	27	volatility	volatility	NOUN
ajfa-2165	326	28	of	of	ADP
ajfa-2165	326	29	the	the	DET
ajfa-2165	326	30	nominal	nominal	ADJ
ajfa-2165	326	31	excess	excess	ADJ
ajfa-2165	326	32	returns	return	NOUN
ajfa-2165	326	33	on	on	ADP
ajfa-2165	326	34	stocks	stock	NOUN
ajfa-2165	326	35	.	.	PUNCT
ajfa-2165	327	1	journal	journal	PROPN
ajfa-2165	327	2	of	of	ADP
ajfa-2165	327	3	finance	finance	NOUN
ajfa-2165	327	4	,	,	PUNCT
ajfa-2165	327	5	48(4	48(4	PROPN
ajfa-2165	327	6	)	)	PUNCT
ajfa-2165	327	7	,	,	PUNCT
ajfa-2165	327	8	1779	1779	NUM
ajfa-2165	327	9	-	-	SYM
ajfa-2165	327	10	1801	1801	NUM
ajfa-2165	327	11	.	.	PUNCT
ajfa-2165	328	1	http://dx.doi.org/10.2307/2329067	http://dx.doi.org/10.2307/2329067	PROPN
ajfa-2165	328	2	harris	harris	PROPN
ajfa-2165	328	3	,	,	PUNCT
ajfa-2165	328	4	l.	l.	PROPN
ajfa-2165	328	5	(	(	PUNCT
ajfa-2165	328	6	1989	1989	NUM
ajfa-2165	328	7	)	)	PUNCT
ajfa-2165	328	8	.	.	PUNCT
ajfa-2165	329	1	s	s	PROPN
ajfa-2165	329	2	&	&	CCONJ
ajfa-2165	329	3	p	p	PROPN
ajfa-2165	329	4	500	500	NUM
ajfa-2165	329	5	spot	spot	NOUN
ajfa-2165	329	6	stock	stock	NOUN
ajfa-2165	329	7	price	price	NOUN
ajfa-2165	329	8	volatilities	volatility	NOUN
ajfa-2165	329	9	.	.	PUNCT
ajfa-2165	330	1	journal	journal	PROPN
ajfa-2165	330	2	of	of	ADP
ajfa-2165	330	3	finance	finance	NOUN
ajfa-2165	330	4	,	,	PUNCT
ajfa-2165	330	5	44(2	44(2	NOUN
ajfa-2165	330	6	)	)	PUNCT
ajfa-2165	330	7	,	,	PUNCT
ajfa-2165	330	8	1155	1155	NUM
ajfa-2165	330	9	-	-	SYM
ajfa-2165	330	10	75	75	NUM
ajfa-2165	330	11	.	.	PUNCT
ajfa-2165	331	1	http://dx.doi.org/10.1111/j.1540-6261.1989.tb02648.x	http://dx.doi.org/10.1111/j.1540-6261.1989.tb02648.x	PROPN
ajfa-2165	331	2	asian	asian	ADJ
ajfa-2165	331	3	journal	journal	PROPN
ajfa-2165	331	4	of	of	ADP
ajfa-2165	331	5	finance	finance	PROPN
ajfa-2165	331	6	&	&	CCONJ
ajfa-2165	331	7	accounting	accounting	PROPN
ajfa-2165	331	8	issn	issn	PROPN
ajfa-2165	331	9	1946	1946	NUM
ajfa-2165	331	10	-	-	PUNCT
ajfa-2165	331	11	052x	052x	NOUN
ajfa-2165	331	12	2013	2013	NUM
ajfa-2165	331	13	,	,	PUNCT
ajfa-2165	331	14	vol	vol	NOUN
ajfa-2165	331	15	.	.	PROPN
ajfa-2165	331	16	5	5	NUM
ajfa-2165	331	17	,	,	PUNCT
ajfa-2165	331	18	no	no	INTJ
ajfa-2165	331	19	.	.	NOUN
ajfa-2165	331	20	1	1	NUM
ajfa-2165	331	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	331	22	304	304	NUM
ajfa-2165	331	23	hodgson	hodgson	PROPN
ajfa-2165	331	24	,	,	PUNCT
ajfa-2165	331	25	a.	a.	PROPN
ajfa-2165	331	26	,	,	PUNCT
ajfa-2165	331	27	&	&	CCONJ
ajfa-2165	331	28	nicholas	nicholas	PROPN
ajfa-2165	331	29	,	,	PUNCT
ajfa-2165	331	30	d.	d.	PROPN
ajfa-2165	331	31	(	(	PUNCT
ajfa-2165	331	32	1991	1991	NUM
ajfa-2165	331	33	)	)	PUNCT
ajfa-2165	331	34	.	.	PUNCT
ajfa-2165	332	1	the	the	DET
ajfa-2165	332	2	impact	impact	NOUN
ajfa-2165	332	3	of	of	ADP
ajfa-2165	332	4	index	index	NOUN
ajfa-2165	332	5	futures	future	NOUN
ajfa-2165	332	6	on	on	ADP
ajfa-2165	332	7	australian	australian	ADJ
ajfa-2165	332	8	share	share	NOUN
ajfa-2165	332	9	market	market	NOUN
ajfa-2165	332	10	volatility	volatility	NOUN
ajfa-2165	332	11	.	.	PUNCT
ajfa-2165	333	1	journal	journal	NOUN
ajfa-2165	333	2	of	of	ADP
ajfa-2165	333	3	business	business	NOUN
ajfa-2165	333	4	and	and	CCONJ
ajfa-2165	333	5	accounting	accounting	NOUN
ajfa-2165	333	6	,	,	PUNCT
ajfa-2165	333	7	12(l	12(l	NUM
ajfa-2165	333	8	)	)	PUNCT
ajfa-2165	333	9	,	,	PUNCT
ajfa-2165	333	10	645	645	NUM
ajfa-2165	333	11	-	-	SYM
ajfa-2165	333	12	658	658	NUM
ajfa-2165	333	13	.	.	PUNCT
ajfa-2165	334	1	kamara	kamara	PROPN
ajfa-2165	334	2	,	,	PUNCT
ajfa-2165	334	3	a.	a.	NOUN
ajfa-2165	334	4	(	(	PUNCT
ajfa-2165	334	5	1992	1992	NUM
ajfa-2165	334	6	)	)	PUNCT
ajfa-2165	334	7	.	.	PUNCT
ajfa-2165	335	1	the	the	DET
ajfa-2165	335	2	effect	effect	NOUN
ajfa-2165	335	3	of	of	ADP
ajfa-2165	335	4	futures	future	NOUN
ajfa-2165	335	5	trading	trading	NOUN
ajfa-2165	335	6	on	on	ADP
ajfa-2165	335	7	the	the	DET
ajfa-2165	335	8	stability	stability	NOUN
ajfa-2165	335	9	of	of	ADP
ajfa-2165	335	10	standard	standard	ADJ
ajfa-2165	335	11	and	and	CCONJ
ajfa-2165	335	12	poor	poor	ADJ
ajfa-2165	335	13	500	500	NUM
ajfa-2165	335	14	returns	return	NOUN
ajfa-2165	335	15	.	.	PUNCT
ajfa-2165	336	1	journal	journal	NOUN
ajfa-2165	336	2	of	of	ADP
ajfa-2165	336	3	futures	future	NOUN
ajfa-2165	336	4	markets	market	NOUN
ajfa-2165	336	5	,	,	PUNCT
ajfa-2165	336	6	12(6	12(6	NUM
ajfa-2165	336	7	)	)	PUNCT
ajfa-2165	336	8	,	,	PUNCT
ajfa-2165	336	9	645–658	645–658	NUM
ajfa-2165	336	10	.	.	PUNCT
ajfa-2165	337	1	http://dx.doi.org/10.1002/fut.3990120605	http://dx.doi.org/10.1002/fut.3990120605	PROPN
ajfa-2165	337	2	kawaller	kawaller	PROPN
ajfa-2165	337	3	,	,	PUNCT
ajfa-2165	337	4	i.	i.	PROPN
ajfa-2165	337	5	g.	g.	PROPN
ajfa-2165	337	6	,	,	PUNCT
ajfa-2165	337	7	koch	koch	PROPN
ajfa-2165	337	8	,	,	PUNCT
ajfa-2165	337	9	p.	p.	PROPN
ajfa-2165	337	10	d.	d.	PROPN
ajfa-2165	337	11	,	,	PUNCT
ajfa-2165	337	12	&	&	CCONJ
ajfa-2165	337	13	koch	koch	PROPN
ajfa-2165	337	14	,	,	PUNCT
ajfa-2165	337	15	t.	t.	PROPN
ajfa-2165	337	16	w.	w.	PROPN
ajfa-2165	337	17	(	(	PUNCT
ajfa-2165	337	18	1987	1987	NUM
ajfa-2165	337	19	)	)	PUNCT
ajfa-2165	337	20	.	.	PUNCT
ajfa-2165	338	1	the	the	DET
ajfa-2165	338	2	temporal	temporal	ADJ
ajfa-2165	338	3	price	price	NOUN
ajfa-2165	338	4	relationship	relationship	NOUN
ajfa-2165	338	5	between	between	ADP
ajfa-2165	338	6	s&p	s&p	PROPN
ajfa-2165	338	7	500	500	NUM
ajfa-2165	338	8	futures	future	NOUN
ajfa-2165	338	9	and	and	CCONJ
ajfa-2165	338	10	the	the	DET
ajfa-2165	338	11	s&p	s&p	PROPN
ajfa-2165	338	12	index	index	NOUN
ajfa-2165	338	13	.	.	PUNCT
ajfa-2165	339	1	journal	journal	PROPN
ajfa-2165	339	2	of	of	ADP
ajfa-2165	339	3	finance	finance	NOUN
ajfa-2165	339	4	,	,	PUNCT
ajfa-2165	339	5	42	42	NUM
ajfa-2165	339	6	,	,	PUNCT
ajfa-2165	339	7	1309–1329	1309–1329	NUM
ajfa-2165	339	8	.	.	PUNCT
ajfa-2165	340	1	http://dx.doi.org/10.1111/j.1540-6261.1987.tb04368.x	http://dx.doi.org/10.1111/j.1540-6261.1987.tb04368.x	PROPN
ajfa-2165	340	2	kavussanos	kavussanos	PROPN
ajfa-2165	340	3	m.g	m.g	PROPN
ajfa-2165	340	4	.	.	PROPN
ajfa-2165	340	5	,	,	PUNCT
ajfa-2165	340	6	&	&	CCONJ
ajfa-2165	340	7	visvikis	visvikis	PROPN
ajfa-2165	340	8	,	,	PUNCT
ajfa-2165	340	9	i.d	i.d	PROPN
ajfa-2165	340	10	.	.	PROPN
ajfa-2165	340	11	(	(	PUNCT
ajfa-2165	340	12	2004	2004	NUM
ajfa-2165	340	13	)	)	PUNCT
ajfa-2165	340	14	.	.	PUNCT
ajfa-2165	341	1	market	market	NOUN
ajfa-2165	341	2	interactions	interaction	NOUN
ajfa-2165	341	3	in	in	ADP
ajfa-2165	341	4	returns	return	NOUN
ajfa-2165	341	5	and	and	CCONJ
ajfa-2165	341	6	volatilities	volatility	NOUN
ajfa-2165	341	7	between	between	ADP
ajfa-2165	341	8	spot	spot	NOUN
ajfa-2165	341	9	and	and	CCONJ
ajfa-2165	341	10	forward	forward	ADV
ajfa-2165	341	11	shipping	ship	VERB
ajfa-2165	341	12	freight	freight	NOUN
ajfa-2165	341	13	markets	market	NOUN
ajfa-2165	341	14	.	.	PUNCT
ajfa-2165	342	1	journal	journal	NOUN
ajfa-2165	342	2	of	of	ADP
ajfa-2165	342	3	banking	banking	NOUN
ajfa-2165	342	4	&	&	CCONJ
ajfa-2165	342	5	finance	finance	PROPN
ajfa-2165	342	6	,	,	PUNCT
ajfa-2165	342	7	28(8	28(8	NUM
ajfa-2165	342	8	)	)	PUNCT
ajfa-2165	342	9	,	,	PUNCT
ajfa-2165	342	10	2015–2049	2015–2049	NUM
ajfa-2165	342	11	.	.	PUNCT
ajfa-2165	343	1	http://dx.doi.org/10.1016/j.jbankfin.2003.07.004	http://dx.doi.org/10.1016/j.jbankfin.2003.07.004	PROPN
ajfa-2165	343	2	koutmos	koutmos	PROPN
ajfa-2165	343	3	g.	g.	PROPN
ajfa-2165	343	4	and	and	CCONJ
ajfa-2165	343	5	booth	booth	PROPN
ajfa-2165	343	6	g.g	g.g	PROPN
ajfa-2165	343	7	.	.	PROPN
ajfa-2165	344	1	(	(	PUNCT
ajfa-2165	344	2	1995	1995	NUM
ajfa-2165	344	3	)	)	PUNCT
ajfa-2165	344	4	.	.	PUNCT
ajfa-2165	345	1	asymmetric	asymmetric	ADJ
ajfa-2165	345	2	volatility	volatility	NOUN
ajfa-2165	345	3	transmission	transmission	NOUN
ajfa-2165	345	4	in	in	ADP
ajfa-2165	345	5	international	international	ADJ
ajfa-2165	345	6	stock	stock	NOUN
ajfa-2165	345	7	markets	market	NOUN
ajfa-2165	345	8	.	.	PUNCT
ajfa-2165	346	1	journal	journal	NOUN
ajfa-2165	346	2	of	of	ADP
ajfa-2165	346	3	international	international	ADJ
ajfa-2165	346	4	money	money	NOUN
ajfa-2165	346	5	and	and	CCONJ
ajfa-2165	346	6	finance	finance	NOUN
ajfa-2165	346	7	,	,	PUNCT
ajfa-2165	346	8	14(6	14(6	NOUN
ajfa-2165	346	9	)	)	PUNCT
ajfa-2165	346	10	,	,	PUNCT
ajfa-2165	346	11	747–762	747–762	NUM
ajfa-2165	346	12	.	.	PUNCT
ajfa-2165	347	1	http://dx.doi.org/10.1016/0261-5606(95)00031-3	http://dx.doi.org/10.1016/0261-5606(95)00031-3	PROPN
ajfa-2165	347	2	koutmos	koutmos	PROPN
ajfa-2165	347	3	g.	g.	PROPN
ajfa-2165	347	4	,	,	PUNCT
ajfa-2165	347	5	&	&	CCONJ
ajfa-2165	347	6	tucker	tucker	PROPN
ajfa-2165	347	7	m.	m.	PROPN
ajfa-2165	347	8	(	(	PUNCT
ajfa-2165	347	9	1996	1996	NUM
ajfa-2165	347	10	)	)	PUNCT
ajfa-2165	347	11	.	.	PUNCT
ajfa-2165	348	1	temporal	temporal	ADJ
ajfa-2165	348	2	relationships	relationship	NOUN
ajfa-2165	348	3	and	and	CCONJ
ajfa-2165	348	4	dynamic	dynamic	ADJ
ajfa-2165	348	5	interactions	interaction	NOUN
ajfa-2165	348	6	between	between	ADP
ajfa-2165	348	7	spot	spot	NOUN
ajfa-2165	348	8	and	and	CCONJ
ajfa-2165	348	9	futures	future	NOUN
ajfa-2165	348	10	stock	stock	NOUN
ajfa-2165	348	11	markets	market	NOUN
ajfa-2165	348	12	.	.	PUNCT
ajfa-2165	349	1	journal	journal	PROPN
ajfa-2165	349	2	of	of	ADP
ajfa-2165	349	3	futures	future	NOUN
ajfa-2165	349	4	markets	market	NOUN
ajfa-2165	349	5	,	,	PUNCT
ajfa-2165	349	6	16(1	16(1	NUM
ajfa-2165	349	7	)	)	PUNCT
ajfa-2165	349	8	,	,	PUNCT
ajfa-2165	349	9	55–69	55–69	NUM
ajfa-2165	349	10	.	.	PUNCT
ajfa-2165	350	1	http://dx.doi.org/10.1002/(sici)1096-9934(199602)16:1<55::aid-fut3>3.0.co;2-g	http://dx.doi.org/10.1002/(sici)1096-9934(199602)16:1<55::aid-fut3>3.0.co;2-g	PROPN
ajfa-2165	350	2	lien	lien	NOUN
ajfa-2165	350	3	,	,	PUNCT
ajfa-2165	350	4	d.	d.	PROPN
ajfa-2165	350	5	,	,	PUNCT
ajfa-2165	350	6	&	&	CCONJ
ajfa-2165	350	7	lou	lou	PROPN
ajfa-2165	350	8	,	,	PUNCT
ajfa-2165	350	9	x.	x.	NOUN
ajfa-2165	350	10	(	(	PUNCT
ajfa-2165	350	11	1994	1994	NUM
ajfa-2165	350	12	)	)	PUNCT
ajfa-2165	350	13	.	.	PUNCT
ajfa-2165	351	1	multiperiod	multiperiod	NOUN
ajfa-2165	351	2	hedging	hedging	NOUN
ajfa-2165	351	3	in	in	ADP
ajfa-2165	351	4	presence	presence	NOUN
ajfa-2165	351	5	of	of	ADP
ajfa-2165	351	6	conditional	conditional	ADJ
ajfa-2165	351	7	heteroscedasticity	heteroscedasticity	PROPN
ajfa-2165	351	8	.	.	PUNCT
ajfa-2165	352	1	journal	journal	PROPN
ajfa-2165	352	2	of	of	ADP
ajfa-2165	352	3	futures	future	NOUN
ajfa-2165	352	4	markets	market	NOUN
ajfa-2165	352	5	,	,	PUNCT
ajfa-2165	352	6	14	14	NUM
ajfa-2165	352	7	,	,	PUNCT
ajfa-2165	352	8	927	927	NUM
ajfa-2165	352	9	-	-	SYM
ajfa-2165	352	10	955	955	NUM
ajfa-2165	352	11	.	.	PUNCT
ajfa-2165	353	1	http://dx.doi.org/10.1002/fut.3990140806	http://dx.doi.org/10.1002/fut.3990140806	PROPN
ajfa-2165	353	2	mukherjee	mukherjee	PROPN
ajfa-2165	353	3	,	,	PUNCT
ajfa-2165	353	4	k.	k.	PROPN
ajfa-2165	353	5	,	,	PUNCT
ajfa-2165	353	6	&	&	CCONJ
ajfa-2165	353	7	mishra	mishra	PROPN
ajfa-2165	353	8	,	,	PUNCT
ajfa-2165	353	9	r	r	PROPN
ajfa-2165	353	10	k.	k.	PROPN
ajfa-2165	353	11	(	(	PUNCT
ajfa-2165	353	12	2004	2004	NUM
ajfa-2165	353	13	)	)	PUNCT
ajfa-2165	353	14	.	.	PUNCT
ajfa-2165	354	1	lead	lead	NOUN
ajfa-2165	354	2	-	-	PUNCT
ajfa-2165	354	3	lag	lag	NOUN
ajfa-2165	354	4	relationship	relationship	NOUN
ajfa-2165	354	5	between	between	ADP
ajfa-2165	354	6	equities	equity	NOUN
ajfa-2165	354	7	and	and	CCONJ
ajfa-2165	354	8	stock	stock	NOUN
ajfa-2165	354	9	index	index	NOUN
ajfa-2165	354	10	futures	future	NOUN
ajfa-2165	354	11	markets	market	NOUN
ajfa-2165	354	12	and	and	CCONJ
ajfa-2165	354	13	its	its	PRON
ajfa-2165	354	14	variation	variation	NOUN
ajfa-2165	354	15	around	around	ADP
ajfa-2165	354	16	information	information	NOUN
ajfa-2165	354	17	release	release	NOUN
ajfa-2165	354	18	:	:	PUNCT
ajfa-2165	354	19	empirical	empirical	ADJ
ajfa-2165	354	20	evidence	evidence	NOUN
ajfa-2165	354	21	from	from	ADP
ajfa-2165	354	22	india	india	PROPN
ajfa-2165	354	23	.	.	PUNCT
ajfa-2165	355	1	nse	nse	NOUN
ajfa-2165	355	2	website	website	NOUN
ajfa-2165	355	3	.	.	PUNCT
ajfa-2165	356	1	ng	ng	PROPN
ajfa-2165	356	2	,	,	PUNCT
ajfa-2165	356	3	v	v	PROPN
ajfa-2165	356	4	k.	k.	PROPN
ajfa-2165	356	5	,	,	PUNCT
ajfa-2165	356	6	&	&	CCONJ
ajfa-2165	356	7	pirrong	pirrong	PROPN
ajfa-2165	356	8	,	,	PUNCT
ajfa-2165	356	9	s	s	PART
ajfa-2165	356	10	c	c	NOUN
ajfa-2165	356	11	(	(	PUNCT
ajfa-2165	356	12	1996	1996	NUM
ajfa-2165	356	13	)	)	PUNCT
ajfa-2165	356	14	.	.	PUNCT
ajfa-2165	357	1	price	price	NOUN
ajfa-2165	357	2	dynamics	dynamic	NOUN
ajfa-2165	357	3	in	in	ADP
ajfa-2165	357	4	refinery	refinery	NOUN
ajfa-2165	357	5	petroleum	petroleum	NOUN
ajfa-2165	357	6	spot	spot	NOUN
ajfa-2165	357	7	and	and	CCONJ
ajfa-2165	357	8	futures	future	NOUN
ajfa-2165	357	9	markets	market	NOUN
ajfa-2165	357	10	.	.	PUNCT
ajfa-2165	358	1	journal	journal	NOUN
ajfa-2165	358	2	of	of	ADP
ajfa-2165	358	3	empirical	empirical	ADJ
ajfa-2165	358	4	finance	finance	NOUN
ajfa-2165	358	5	,	,	PUNCT
ajfa-2165	358	6	2(4	2(4	NUM
ajfa-2165	358	7	)	)	PUNCT
ajfa-2165	358	8	,	,	PUNCT
ajfa-2165	358	9	359	359	NUM
ajfa-2165	358	10	-	-	SYM
ajfa-2165	358	11	388	388	NUM
ajfa-2165	358	12	.	.	PUNCT
ajfa-2165	359	1	http://dx.doi.org/10.1016/0927-5398(95)00014-3	http://dx.doi.org/10.1016/0927-5398(95)00014-3	NOUN
ajfa-2165	359	2	nath	nath	NOUN
ajfa-2165	359	3	,	,	PUNCT
ajfa-2165	359	4	g.	g.	PROPN
ajfa-2165	359	5	c.	c.	PROPN
ajfa-2165	359	6	(	(	PUNCT
ajfa-2165	359	7	2003	2003	NUM
ajfa-2165	359	8	)	)	PUNCT
ajfa-2165	359	9	.	.	PUNCT
ajfa-2165	360	1	behaviour	behaviour	NOUN
ajfa-2165	360	2	of	of	ADP
ajfa-2165	360	3	stock	stock	NOUN
ajfa-2165	360	4	market	market	NOUN
ajfa-2165	360	5	volatility	volatility	NOUN
ajfa-2165	360	6	after	after	ADP
ajfa-2165	360	7	derivatives	derivative	NOUN
ajfa-2165	360	8	.	.	PUNCT
ajfa-2165	361	1	nse	nse	NOUN
ajfa-2165	361	2	working	working	NOUN
ajfa-2165	361	3	paper	paper	NOUN
ajfa-2165	361	4	.	.	PUNCT
ajfa-2165	362	1	perieli	perieli	PROPN
ajfa-2165	362	2	,	,	PUNCT
ajfa-2165	362	3	a.	a.	PROPN
ajfa-2165	362	4	,	,	PUNCT
ajfa-2165	362	5	&	&	CCONJ
ajfa-2165	362	6	koutmos	koutmos	PROPN
ajfa-2165	362	7	,	,	PUNCT
ajfa-2165	362	8	g.	g.	PROPN
ajfa-2165	362	9	(	(	PUNCT
ajfa-2165	362	10	1997	1997	NUM
ajfa-2165	362	11	)	)	PUNCT
ajfa-2165	362	12	.	.	PUNCT
ajfa-2165	363	1	index	index	NOUN
ajfa-2165	363	2	futures	future	NOUN
ajfa-2165	363	3	and	and	CCONJ
ajfa-2165	363	4	options	option	NOUN
ajfa-2165	363	5	and	and	CCONJ
ajfa-2165	363	6	stock	stock	NOUN
ajfa-2165	363	7	market	market	NOUN
ajfa-2165	363	8	volatility	volatility	NOUN
ajfa-2165	363	9	.	.	PUNCT
ajfa-2165	364	1	journal	journal	PROPN
ajfa-2165	364	2	of	of	ADP
ajfa-2165	364	3	futures	future	NOUN
ajfa-2165	364	4	markets	market	NOUN
ajfa-2165	364	5	,	,	PUNCT
ajfa-2165	364	6	18(8	18(8	NUM
ajfa-2165	364	7	)	)	PUNCT
ajfa-2165	364	8	,	,	PUNCT
ajfa-2165	364	9	957–974	957–974	NUM
ajfa-2165	364	10	.	.	PUNCT
ajfa-2165	365	1	http://dx.doi.org/10.1002/(sici)1096-9934(199712)17:8<957::aid-fut6>3.0.co;2-k	http://dx.doi.org/10.1002/(sici)1096-9934(199712)17:8<957::aid-fut6>3.0.co;2-k	PROPN
ajfa-2165	365	2	philips	philips	PROPN
ajfa-2165	365	3	.	.	PUNCT
ajfa-2165	366	1	p.	p.	NOUN
ajfa-2165	366	2	,	,	PUNCT
ajfa-2165	366	3	&	&	CCONJ
ajfa-2165	366	4	perron	perron	PROPN
ajfa-2165	366	5	.	.	PUNCT
ajfa-2165	367	1	p.	p.	NOUN
ajfa-2165	367	2	(	(	PUNCT
ajfa-2165	367	3	1988	1988	NUM
ajfa-2165	367	4	)	)	PUNCT
ajfa-2165	367	5	.	.	PUNCT
ajfa-2165	368	1	testing	test	VERB
ajfa-2165	368	2	for	for	ADP
ajfa-2165	368	3	a	a	DET
ajfa-2165	368	4	unit	unit	NOUN
ajfa-2165	368	5	root	root	NOUN
ajfa-2165	368	6	in	in	ADP
ajfa-2165	368	7	time	time	NOUN
ajfa-2165	368	8	series	series	PROPN
ajfa-2165	368	9	regression	regression	PROPN
ajfa-2165	368	10	.	.	PUNCT
ajfa-2165	369	1	biometrica	biometrica	PROPN
ajfa-2165	369	2	,	,	PUNCT
ajfa-2165	369	3	75	75	NUM
ajfa-2165	369	4	,	,	PUNCT
ajfa-2165	369	5	335	335	NUM
ajfa-2165	369	6	-	-	SYM
ajfa-2165	369	7	46	46	NUM
ajfa-2165	369	8	.	.	PUNCT
ajfa-2165	370	1	http://dx.doi.org/10.1093/biomet/75.2.335	http://dx.doi.org/10.1093/biomet/75.2.335	PROPN
ajfa-2165	370	2	pok	pok	PROPN
ajfa-2165	370	3	,	,	PUNCT
ajfa-2165	370	4	wee	wee	PROPN
ajfa-2165	370	5	ching	ching	PROPN
ajfa-2165	370	6	,	,	PUNCT
ajfa-2165	370	7	&	&	CCONJ
ajfa-2165	370	8	poshakwale	poshakwale	PROPN
ajfa-2165	370	9	,	,	PUNCT
ajfa-2165	370	10	sunil	sunil	NOUN
ajfa-2165	370	11	(	(	PUNCT
ajfa-2165	370	12	2004	2004	NUM
ajfa-2165	370	13	)	)	PUNCT
ajfa-2165	370	14	.	.	PUNCT
ajfa-2165	371	1	the	the	DET
ajfa-2165	371	2	impact	impact	NOUN
ajfa-2165	371	3	of	of	ADP
ajfa-2165	371	4	the	the	DET
ajfa-2165	371	5	introduction	introduction	NOUN
ajfa-2165	371	6	of	of	ADP
ajfa-2165	371	7	futures	future	NOUN
ajfa-2165	371	8	contracts	contract	NOUN
ajfa-2165	371	9	on	on	ADP
ajfa-2165	371	10	the	the	DET
ajfa-2165	371	11	spot	spot	NOUN
ajfa-2165	371	12	market	market	NOUN
ajfa-2165	371	13	volatility	volatility	NOUN
ajfa-2165	371	14	:	:	PUNCT
ajfa-2165	371	15	the	the	DET
ajfa-2165	371	16	case	case	NOUN
ajfa-2165	371	17	of	of	ADP
ajfa-2165	371	18	kuala	kuala	PROPN
ajfa-2165	371	19	lumpur	lumpur	PROPN
ajfa-2165	371	20	stock	stock	PROPN
ajfa-2165	371	21	exchange	exchange	PROPN
ajfa-2165	371	22	.	.	PUNCT
ajfa-2165	372	1	applied	apply	VERB
ajfa-2165	372	2	financial	financial	ADJ
ajfa-2165	372	3	economics	economic	NOUN
ajfa-2165	372	4	,	,	PUNCT
ajfa-2165	372	5	14(2	14(2	NUM
ajfa-2165	372	6	)	)	PUNCT
ajfa-2165	372	7	,	,	PUNCT
ajfa-2165	372	8	143	143	NUM
ajfa-2165	372	9	-	-	SYM
ajfa-2165	372	10	154	154	NUM
ajfa-2165	372	11	.	.	PUNCT
ajfa-2165	373	1	http://dx.doi.org/10.1080/0960310042000176416	http://dx.doi.org/10.1080/0960310042000176416	PROPN
ajfa-2165	373	2	asian	asian	PROPN
ajfa-2165	373	3	journal	journal	PROPN
ajfa-2165	373	4	of	of	ADP
ajfa-2165	373	5	finance	finance	PROPN
ajfa-2165	373	6	&	&	CCONJ
ajfa-2165	373	7	accounting	accounting	PROPN
ajfa-2165	373	8	issn	issn	PROPN
ajfa-2165	373	9	1946	1946	NUM
ajfa-2165	373	10	-	-	PUNCT
ajfa-2165	373	11	052x	052x	NOUN
ajfa-2165	373	12	2013	2013	NUM
ajfa-2165	373	13	,	,	PUNCT
ajfa-2165	373	14	vol	vol	NOUN
ajfa-2165	373	15	.	.	PROPN
ajfa-2165	373	16	5	5	NUM
ajfa-2165	373	17	,	,	PUNCT
ajfa-2165	373	18	no	no	INTJ
ajfa-2165	373	19	.	.	NOUN
ajfa-2165	373	20	1	1	NUM
ajfa-2165	373	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-2165	373	22	305	305	NUM
ajfa-2165	373	23	raju	raju	PROPN
ajfa-2165	373	24	,	,	PUNCT
ajfa-2165	373	25	m.	m.	NOUN
ajfa-2165	373	26	t.	t.	PROPN
ajfa-2165	373	27	,	,	PUNCT
ajfa-2165	373	28	&	&	CCONJ
ajfa-2165	373	29	karande	karande	PROPN
ajfa-2165	373	30	,	,	PUNCT
ajfa-2165	373	31	k.	k.	PROPN
ajfa-2165	373	32	(	(	PUNCT
ajfa-2165	373	33	2003	2003	NUM
ajfa-2165	373	34	)	)	PUNCT
ajfa-2165	373	35	.	.	PUNCT
ajfa-2165	374	1	price	price	NOUN
ajfa-2165	374	2	discovery	discovery	NOUN
ajfa-2165	374	3	and	and	CCONJ
ajfa-2165	374	4	volatility	volatility	NOUN
ajfa-2165	374	5	on	on	ADP
ajfa-2165	374	6	nse	nse	NOUN
ajfa-2165	374	7	futures	future	NOUN
ajfa-2165	374	8	market	market	NOUN
ajfa-2165	374	9	.	.	PUNCT
ajfa-2165	375	1	sebi	sebi	NOUN
ajfa-2165	375	2	bulletin	bulletin	NOUN
ajfa-2165	375	3	,	,	PUNCT
ajfa-2165	375	4	1(3	1(3	NUM
ajfa-2165	375	5	)	)	PUNCT
ajfa-2165	375	6	,	,	PUNCT
ajfa-2165	375	7	5–15	5–15	PROPN
ajfa-2165	375	8	.	.	PUNCT
ajfa-2165	376	1	ross	ross	PROPN
ajfa-2165	376	2	,	,	PUNCT
ajfa-2165	376	3	s.	s.	PROPN
ajfa-2165	376	4	a.	a.	PROPN
ajfa-2165	376	5	(	(	PUNCT
ajfa-2165	376	6	1989	1989	NUM
ajfa-2165	376	7	)	)	PUNCT
ajfa-2165	376	8	.	.	PUNCT
ajfa-2165	377	1	information	information	NOUN
ajfa-2165	377	2	and	and	CCONJ
ajfa-2165	377	3	volatility	volatility	NOUN
ajfa-2165	377	4	:	:	PUNCT
ajfa-2165	377	5	the	the	DET
ajfa-2165	377	6	no	no	DET
ajfa-2165	377	7	-	-	PUNCT
ajfa-2165	377	8	arbitrage	arbitrage	NOUN
ajfa-2165	377	9	martingale	martingale	NOUN
ajfa-2165	377	10	approach	approach	NOUN
ajfa-2165	377	11	to	to	ADP
ajfa-2165	377	12	timing	timing	NOUN
ajfa-2165	377	13	and	and	CCONJ
ajfa-2165	377	14	resolution	resolution	NOUN
ajfa-2165	377	15	irrelevancy	irrelevancy	NOUN
ajfa-2165	377	16	.	.	PUNCT
ajfa-2165	378	1	journal	journal	PROPN
ajfa-2165	378	2	of	of	ADP
ajfa-2165	378	3	finance	finance	NOUN
ajfa-2165	378	4	,	,	PUNCT
ajfa-2165	378	5	44	44	NUM
ajfa-2165	378	6	,	,	PUNCT
ajfa-2165	378	7	1–17	1–17	PROPN
ajfa-2165	378	8	.	.	PUNCT
ajfa-2165	379	1	http://dx.doi.org/10.2307/2328272	http://dx.doi.org/10.2307/2328272	PROPN
ajfa-2165	379	2	schwert	schwert	PROPN
ajfa-2165	379	3	,	,	PUNCT
ajfa-2165	379	4	g.	g.	PROPN
ajfa-2165	379	5	w.	w.	PROPN
ajfa-2165	379	6	(	(	PUNCT
ajfa-2165	379	7	1990	1990	NUM
ajfa-2165	379	8	)	)	PUNCT
ajfa-2165	379	9	.	.	PUNCT
ajfa-2165	380	1	stock	stock	NOUN
ajfa-2165	380	2	volatility	volatility	NOUN
ajfa-2165	380	3	and	and	CCONJ
ajfa-2165	380	4	the	the	DET
ajfa-2165	380	5	crash	crash	NOUN
ajfa-2165	380	6	of	of	ADP
ajfa-2165	380	7	’	'	PUNCT
ajfa-2165	380	8	87	87	NUM
ajfa-2165	380	9	.	.	PUNCT
ajfa-2165	381	1	review	review	NOUN
ajfa-2165	381	2	of	of	ADP
ajfa-2165	381	3	financial	financial	ADJ
ajfa-2165	381	4	studies	study	NOUN
ajfa-2165	381	5	,	,	PUNCT
ajfa-2165	381	6	3	3	NUM
ajfa-2165	381	7	,	,	PUNCT
ajfa-2165	381	8	77–102	77–102	NUM
ajfa-2165	381	9	.	.	PUNCT
ajfa-2165	381	10	http://dx.doi.org/10.1093/rfs/3.1.77	http://dx.doi.org/10.1093/rfs/3.1.77	ADJ
ajfa-2165	381	11	spyrou	spyrou	NOUN
ajfa-2165	381	12	,	,	PUNCT
ajfa-2165	381	13	s.	s.	PROPN
ajfa-2165	381	14	i.	i.	PROPN
ajfa-2165	381	15	(	(	PUNCT
ajfa-2165	381	16	2005	2005	NUM
ajfa-2165	381	17	)	)	PUNCT
ajfa-2165	381	18	.	.	PUNCT
ajfa-2165	382	1	index	index	NOUN
ajfa-2165	382	2	futures	future	NOUN
ajfa-2165	382	3	trading	trading	NOUN
ajfa-2165	382	4	and	and	CCONJ
ajfa-2165	382	5	spot	spot	NOUN
ajfa-2165	382	6	price	price	NOUN
ajfa-2165	382	7	volatility	volatility	NOUN
ajfa-2165	382	8	:	:	PUNCT
ajfa-2165	382	9	evidence	evidence	NOUN
ajfa-2165	382	10	from	from	ADP
ajfa-2165	382	11	an	an	DET
ajfa-2165	382	12	emerging	emerge	VERB
ajfa-2165	382	13	market	market	NOUN
ajfa-2165	382	14	.	.	PUNCT
ajfa-2165	383	1	journal	journal	NOUN
ajfa-2165	383	2	of	of	ADP
ajfa-2165	383	3	emerging	emerge	VERB
ajfa-2165	383	4	market	market	NOUN
ajfa-2165	383	5	finance	finance	NOUN
ajfa-2165	383	6	,	,	PUNCT
ajfa-2165	383	7	4(2	4(2	NUM
ajfa-2165	383	8	)	)	PUNCT
ajfa-2165	383	9	,	,	PUNCT
ajfa-2165	383	10	151–167	151–167	NUM
ajfa-2165	383	11	.	.	PUNCT
ajfa-2165	384	1	http://dx.doi.org/10.1177/097265270500400203	http://dx.doi.org/10.1177/097265270500400203	PROPN
ajfa-2165	384	2	subramanian	subramanian	PROPN
ajfa-2165	384	3	s.	s.	PROPN
ajfa-2165	384	4	(	(	PUNCT
ajfa-2165	384	5	2012	2012	NUM
ajfa-2165	384	6	)	)	PUNCT
ajfa-2165	384	7	.	.	PUNCT
ajfa-2165	385	1	the	the	DET
ajfa-2165	385	2	impact	impact	NOUN
ajfa-2165	385	3	of	of	ADP
ajfa-2165	385	4	the	the	DET
ajfa-2165	385	5	introduction	introduction	NOUN
ajfa-2165	385	6	of	of	ADP
ajfa-2165	385	7	index	index	NOUN
ajfa-2165	385	8	futures	future	NOUN
ajfa-2165	385	9	on	on	ADP
ajfa-2165	385	10	volatility	volatility	NOUN
ajfa-2165	385	11	and	and	CCONJ
ajfa-2165	385	12	noise	noise	NOUN
ajfa-2165	385	13	trading	trading	NOUN
ajfa-2165	385	14	.	.	PUNCT
ajfa-2165	386	1	national	national	ADJ
ajfa-2165	386	2	stock	stock	PROPN
ajfa-2165	386	3	exchange	exchange	PROPN
ajfa-2165	386	4	limited	limit	VERB
ajfa-2165	386	5	.	.	PUNCT
ajfa-2165	387	1	www.nseindia.com/research/content/rp_5_mar2012.pdf	www.nseindia.com/research/content/rp_5_mar2012.pdf	PROPN
ajfa-2165	387	2	stein	stein	PROPN
ajfa-2165	387	3	,	,	PUNCT
ajfa-2165	387	4	j.	j.	PROPN
ajfa-2165	387	5	(	(	PUNCT
ajfa-2165	387	6	1987	1987	NUM
ajfa-2165	387	7	)	)	PUNCT
ajfa-2165	387	8	.	.	PUNCT
ajfa-2165	388	1	informational	informational	ADJ
ajfa-2165	388	2	externalities	externality	NOUN
ajfa-2165	388	3	and	and	CCONJ
ajfa-2165	388	4	welfare	welfare	NOUN
ajfa-2165	388	5	-	-	PUNCT
ajfa-2165	388	6	reducing	reduce	VERB
ajfa-2165	388	7	speculation	speculation	NOUN
ajfa-2165	388	8	.	.	PUNCT
ajfa-2165	389	1	journal	journal	NOUN
ajfa-2165	389	2	of	of	ADP
ajfa-2165	389	3	political	political	ADJ
ajfa-2165	389	4	economy	economy	NOUN
ajfa-2165	389	5	,	,	PUNCT
ajfa-2165	389	6	95	95	NUM
ajfa-2165	389	7	,	,	PUNCT
ajfa-2165	389	8	1123–1145	1123–1145	NUM
ajfa-2165	389	9	.	.	PUNCT
ajfa-2165	390	1	http://dx.doi.org/10.1086/261508	http://dx.doi.org/10.1086/261508	PROPN
ajfa-2165	390	2	stoll	stoll	PROPN
ajfa-2165	390	3	,	,	PUNCT
ajfa-2165	390	4	h	h	PROPN
ajfa-2165	390	5	r.	r.	PROPN
ajfa-2165	390	6	,	,	PUNCT
ajfa-2165	390	7	&	&	CCONJ
ajfa-2165	390	8	whaley	whaley	PROPN
ajfa-2165	390	9	,	,	PUNCT
ajfa-2165	390	10	r	r	NOUN
ajfa-2165	390	11	e	e	NOUN
ajfa-2165	390	12	(	(	PUNCT
ajfa-2165	390	13	1990	1990	NUM
ajfa-2165	390	14	)	)	PUNCT
ajfa-2165	390	15	.	.	PUNCT
ajfa-2165	391	1	the	the	DET
ajfa-2165	391	2	dynamics	dynamic	NOUN
ajfa-2165	391	3	of	of	ADP
ajfa-2165	391	4	stock	stock	NOUN
ajfa-2165	391	5	index	index	NOUN
ajfa-2165	391	6	and	and	CCONJ
ajfa-2165	391	7	stock	stock	NOUN
ajfa-2165	391	8	index	index	NOUN
ajfa-2165	391	9	futures	future	NOUN
ajfa-2165	391	10	returns	return	NOUN
ajfa-2165	391	11	.	.	PUNCT
ajfa-2165	392	1	journal	journal	NOUN
ajfa-2165	392	2	of	of	ADP
ajfa-2165	392	3	financial	financial	ADJ
ajfa-2165	392	4	and	and	CCONJ
ajfa-2165	392	5	quantitative	quantitative	ADJ
ajfa-2165	392	6	analysis	analysis	NOUN
ajfa-2165	392	7	,	,	PUNCT
ajfa-2165	392	8	25(4	25(4	NOUN
ajfa-2165	392	9	)	)	PUNCT
ajfa-2165	392	10	,	,	PUNCT
ajfa-2165	392	11	441	441	NUM
ajfa-2165	392	12	-	-	SYM
ajfa-2165	392	13	468	468	NUM
ajfa-2165	392	14	.	.	PUNCT
ajfa-2165	393	1	http://dx.doi.org/10.2307/2331010	http://dx.doi.org/10.2307/2331010	PROPN
ajfa-2165	393	2	thenmozhi	thenmozhi	PROPN
ajfa-2165	393	3	,	,	PUNCT
ajfa-2165	393	4	m.	m.	NOUN
ajfa-2165	393	5	(	(	PUNCT
ajfa-2165	393	6	2002	2002	NUM
ajfa-2165	393	7	)	)	PUNCT
ajfa-2165	393	8	.	.	PUNCT
ajfa-2165	394	1	futures	future	NOUN
ajfa-2165	394	2	trading	trading	NOUN
ajfa-2165	394	3	,	,	PUNCT
ajfa-2165	394	4	information	information	NOUN
ajfa-2165	394	5	and	and	CCONJ
ajfa-2165	394	6	spot	spot	NOUN
ajfa-2165	394	7	price	price	NOUN
ajfa-2165	394	8	volatility	volatility	NOUN
ajfa-2165	394	9	of	of	ADP
ajfa-2165	394	10	nse-50	nse-50	ADJ
ajfa-2165	394	11	•	•	NOUN
ajfa-2165	394	12	index	index	NOUN
ajfa-2165	394	13	futures	future	NOUN
ajfa-2165	394	14	contract	contract	NOUN
ajfa-2165	394	15	.	.	PUNCT
ajfa-2165	395	1	nse	nse	NOUN
ajfa-2165	395	2	research	research	NOUN
ajfa-2165	395	3	paper	paper	NOUN
ajfa-2165	395	4	,	,	PUNCT
ajfa-2165	395	5	national	national	ADJ
ajfa-2165	395	6	stock	stock	PROPN
ajfa-2165	395	7	exchange	exchange	PROPN
ajfa-2165	395	8	of	of	ADP
ajfa-2165	395	9	india	india	PROPN
ajfa-2165	395	10	ltd	ltd	PROPN
ajfa-2165	395	11	.	.	PROPN
ajfa-2165	395	12	vipul	vipul	PROPN
ajfa-2165	395	13	.	.	PUNCT
ajfa-2165	396	1	(	(	PUNCT
ajfa-2165	396	2	2006	2006	NUM
ajfa-2165	396	3	)	)	PUNCT
ajfa-2165	396	4	.	.	PUNCT
ajfa-2165	397	1	the	the	DET
ajfa-2165	397	2	impact	impact	NOUN
ajfa-2165	397	3	of	of	ADP
ajfa-2165	397	4	the	the	DET
ajfa-2165	397	5	introduction	introduction	NOUN
ajfa-2165	397	6	of	of	ADP
ajfa-2165	397	7	the	the	DET
ajfa-2165	397	8	derivatives	derivative	NOUN
ajfa-2165	397	9	on	on	ADP
ajfa-2165	397	10	underling	underle	VERB
ajfa-2165	397	11	volatility	volatility	NOUN
ajfa-2165	397	12	:	:	PUNCT
ajfa-2165	397	13	evidence	evidence	NOUN
ajfa-2165	397	14	from	from	ADP
ajfa-2165	397	15	india	india	PROPN
ajfa-2165	397	16	.	.	PUNCT
ajfa-2165	397	17	journal	journal	PROPN
ajfa-2165	397	18	of	of	ADP
ajfa-2165	397	19	applied	apply	VERB
ajfa-2165	397	20	financial	financial	ADJ
ajfa-2165	397	21	economics	economic	NOUN
ajfa-2165	397	22	,	,	PUNCT
ajfa-2165	397	23	16(9	16(9	NUM
ajfa-2165	397	24	)	)	PUNCT
ajfa-2165	397	25	,	,	PUNCT
ajfa-2165	397	26	687	687	NUM
ajfa-2165	397	27	-	-	SYM
ajfa-2165	397	28	694	694	NUM
ajfa-2165	397	29	.	.	PUNCT
ajfa-2165	398	1	wahab	wahab	PROPN
ajfa-2165	398	2	,	,	PUNCT
ajfa-2165	398	3	m.	m.	NOUN
ajfa-2165	398	4	,	,	PUNCT
ajfa-2165	398	5	&	&	CCONJ
ajfa-2165	398	6	lashgari	lashgari	PROPN
ajfa-2165	398	7	,	,	PUNCT
ajfa-2165	398	8	m.	m.	NOUN
ajfa-2165	398	9	(	(	PUNCT
ajfa-2165	398	10	1993	1993	NUM
ajfa-2165	398	11	)	)	PUNCT
ajfa-2165	398	12	.	.	PUNCT
ajfa-2165	399	1	price	price	NOUN
ajfa-2165	399	2	dynamics	dynamic	NOUN
ajfa-2165	399	3	and	and	CCONJ
ajfa-2165	399	4	error	error	NOUN
ajfa-2165	399	5	correction	correction	NOUN
ajfa-2165	399	6	in	in	ADP
ajfa-2165	399	7	stock	stock	NOUN
ajfa-2165	399	8	index	index	NOUN
ajfa-2165	399	9	and	and	CCONJ
ajfa-2165	399	10	stock	stock	NOUN
ajfa-2165	399	11	index	index	NOUN
ajfa-2165	399	12	futures	future	NOUN
ajfa-2165	399	13	markets	market	NOUN
ajfa-2165	399	14	:	:	PUNCT
ajfa-2165	399	15	a	a	DET
ajfa-2165	399	16	cointegration	cointegration	NOUN
ajfa-2165	399	17	approach	approach	NOUN
ajfa-2165	399	18	.	.	PUNCT
ajfa-2165	400	1	journal	journal	PROPN
ajfa-2165	400	2	of	of	ADP
ajfa-2165	400	3	futures	future	NOUN
ajfa-2165	400	4	markets	market	NOUN
ajfa-2165	400	5	,	,	PUNCT
ajfa-2165	400	6	13(7	13(7	NUM
ajfa-2165	400	7	)	)	PUNCT
ajfa-2165	400	8	,	,	PUNCT
ajfa-2165	400	9	711	711	NUM
ajfa-2165	400	10	-	-	SYM
ajfa-2165	400	11	742	742	NUM
ajfa-2165	400	12	.	.	PUNCT
ajfa-2165	401	1	http://dx.doi.org/10.1002/fut.3990130702	http://dx.doi.org/10.1002/fut.3990130702	PROPN
ajfa-2165	401	2	wang	wang	PROPN
ajfa-2165	401	3	,	,	PUNCT
ajfa-2165	401	4	p.	p.	PROPN
ajfa-2165	401	5	,	,	PUNCT
ajfa-2165	401	6	&	&	CCONJ
ajfa-2165	401	7	wang	wang	PROPN
ajfa-2165	401	8	,	,	PUNCT
ajfa-2165	401	9	p.	p.	PROPN
ajfa-2165	401	10	(	(	PUNCT
ajfa-2165	401	11	2001	2001	NUM
ajfa-2165	401	12	)	)	PUNCT
ajfa-2165	401	13	.	.	PUNCT
ajfa-2165	402	1	equilibrium	equilibrium	NOUN
ajfa-2165	402	2	adjustment	adjustment	NOUN
ajfa-2165	402	3	,	,	PUNCT
ajfa-2165	402	4	basis	basis	NOUN
ajfa-2165	402	5	risk	risk	NOUN
ajfa-2165	402	6	and	and	CCONJ
ajfa-2165	402	7	risk	risk	NOUN
ajfa-2165	402	8	transmission	transmission	NOUN
ajfa-2165	402	9	in	in	ADP
ajfa-2165	402	10	spot	spot	NOUN
ajfa-2165	402	11	and	and	CCONJ
ajfa-2165	402	12	forward	forward	ADV
ajfa-2165	402	13	foreign	foreign	ADJ
ajfa-2165	402	14	exchange	exchange	NOUN
ajfa-2165	402	15	markets	market	NOUN
ajfa-2165	402	16	.	.	PUNCT
ajfa-2165	403	1	applied	apply	VERB
ajfa-2165	403	2	financial	financial	ADJ
ajfa-2165	403	3	economics	economic	NOUN
ajfa-2165	403	4	,	,	PUNCT
ajfa-2165	403	5	11(2	11(2	NOUN
ajfa-2165	403	6	)	)	PUNCT
ajfa-2165	403	7	,	,	PUNCT
ajfa-2165	403	8	127	127	NUM
ajfa-2165	403	9	-	-	SYM
ajfa-2165	403	10	136	136	NUM
ajfa-2165	403	11	.	.	PUNCT
ajfa-2165	404	1	http://dx.doi.org/10.1080/096031001750071514	http://dx.doi.org/10.1080/096031001750071514	PROPN
ajfa-2165	404	2	yang	yang	PROPN
ajfa-2165	404	3	,	,	PUNCT
ajfa-2165	404	4	j	j	PROPN
ajfa-2165	404	5	,	,	PUNCT
ajfa-2165	404	6	balyeat	balyeat	NOUN
ajfa-2165	404	7	,	,	PUNCT
ajfa-2165	404	8	r.	r.	PROPN
ajfa-2165	404	9	b.	b.	PROPN
ajfa-2165	404	10	,	,	PUNCT
ajfa-2165	404	11	&	&	CCONJ
ajfa-2165	404	12	leatham	leatham	PROPN
ajfa-2165	404	13	d.j	d.j	PROPN
ajfa-2165	404	14	.	.	PROPN
ajfa-2165	404	15	(	(	PUNCT
ajfa-2165	404	16	2001	2001	NUM
ajfa-2165	404	17	)	)	PUNCT
ajfa-2165	404	18	.	.	PUNCT
ajfa-2165	405	1	futures	future	NOUN
ajfa-2165	405	2	trading	trading	NOUN
ajfa-2165	405	3	activity	activity	NOUN
ajfa-2165	405	4	and	and	CCONJ
ajfa-2165	405	5	commodity	commodity	NOUN
ajfa-2165	405	6	cash	cash	NOUN
ajfa-2165	405	7	price	price	NOUN
ajfa-2165	405	8	volatility	volatility	NOUN
ajfa-2165	405	9	.	.	PUNCT
ajfa-2165	406	1	journal	journal	NOUN
ajfa-2165	406	2	of	of	ADP
ajfa-2165	406	3	business	business	NOUN
ajfa-2165	406	4	finance	finance	PROPN
ajfa-2165	406	5	&	&	CCONJ
ajfa-2165	406	6	accounting	accounting	PROPN
ajfa-2165	406	7	,	,	PUNCT
ajfa-2165	406	8	32(1	32(1	NUM
ajfa-2165	406	9	)	)	PUNCT
ajfa-2165	406	10	&	&	CCONJ
ajfa-2165	406	11	(	(	PUNCT
ajfa-2165	406	12	2	2	NUM
ajfa-2165	406	13	)	)	PUNCT
ajfa-2165	406	14	.	.	PUNCT