id	sid	tid	token	lemma	pos
ajfa-4025	1	1	microsoft	microsoft	PROPN
ajfa-4025	1	2	word	word	NOUN
ajfa-4025	1	3	m-new.doc	m-new.doc	PROPN
ajfa-4025	1	4	asian	asian	PROPN
ajfa-4025	1	5	journal	journal	PROPN
ajfa-4025	1	6	of	of	ADP
ajfa-4025	1	7	finance	finance	PROPN
ajfa-4025	1	8	&	&	CCONJ
ajfa-4025	1	9	accounting	accounting	PROPN
ajfa-4025	1	10	issn	issn	PROPN
ajfa-4025	1	11	1946	1946	NUM
ajfa-4025	1	12	-	-	PUNCT
ajfa-4025	1	13	052x	052x	NOUN
ajfa-4025	1	14	2013	2013	NUM
ajfa-4025	1	15	,	,	PUNCT
ajfa-4025	1	16	vol	vol	NOUN
ajfa-4025	1	17	.	.	PROPN
ajfa-4025	1	18	5	5	NUM
ajfa-4025	1	19	,	,	PUNCT
ajfa-4025	1	20	no	no	INTJ
ajfa-4025	1	21	.	.	NOUN
ajfa-4025	1	22	2	2	NUM
ajfa-4025	1	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	1	24	159	159	NUM
ajfa-4025	1	25	macroeconomic	macroeconomic	ADJ
ajfa-4025	1	26	variables	variable	NOUN
ajfa-4025	1	27	,	,	PUNCT
ajfa-4025	1	28	firm	firm	ADJ
ajfa-4025	1	29	characteristics	characteristic	NOUN
ajfa-4025	1	30	and	and	CCONJ
ajfa-4025	1	31	stock	stock	NOUN
ajfa-4025	1	32	returns	return	NOUN
ajfa-4025	1	33	during	during	ADP
ajfa-4025	1	34	good	good	ADJ
ajfa-4025	1	35	and	and	CCONJ
ajfa-4025	1	36	bad	bad	ADJ
ajfa-4025	1	37	times	time	NOUN
ajfa-4025	1	38	:	:	PUNCT
ajfa-4025	1	39	evidence	evidence	NOUN
ajfa-4025	1	40	from	from	ADP
ajfa-4025	1	41	sea	sea	PROPN
ajfa-4025	1	42	nafis	nafis	PROPN
ajfa-4025	1	43	alam1	alam1	PROPN
ajfa-4025	1	44	assistant	assistant	PROPN
ajfa-4025	1	45	professor	professor	NOUN
ajfa-4025	1	46	,	,	PUNCT
ajfa-4025	1	47	nottingham	nottingham	PROPN
ajfa-4025	1	48	university	university	PROPN
ajfa-4025	1	49	business	business	NOUN
ajfa-4025	1	50	school	school	NOUN
ajfa-4025	1	51	,	,	PUNCT
ajfa-4025	1	52	the	the	DET
ajfa-4025	1	53	university	university	PROPN
ajfa-4025	1	54	of	of	ADP
ajfa-4025	1	55	nottingham	nottingham	PROPN
ajfa-4025	1	56	malaysia	malaysia	PROPN
ajfa-4025	1	57	campus	campus	PROPN
ajfa-4025	1	58	e	e	NOUN
ajfa-4025	1	59	-	-	NOUN
ajfa-4025	1	60	mail	mail	NOUN
ajfa-4025	1	61	:	:	PUNCT
ajfa-4025	1	62	nafis.alam@nottingham.edu.my	nafis.alam@nottingham.edu.my	PROPN
ajfa-4025	1	63	received	receive	VERB
ajfa-4025	1	64	:	:	PUNCT
ajfa-4025	1	65	august	august	PROPN
ajfa-4025	1	66	23	23	NUM
ajfa-4025	1	67	,	,	PUNCT
ajfa-4025	1	68	2013	2013	NUM
ajfa-4025	1	69	accepted	accept	VERB
ajfa-4025	1	70	:	:	PUNCT
ajfa-4025	1	71	october	october	PROPN
ajfa-4025	1	72	27	27	NUM
ajfa-4025	1	73	,	,	PUNCT
ajfa-4025	1	74	2013	2013	NUM
ajfa-4025	1	75	published	publish	VERB
ajfa-4025	1	76	:	:	PUNCT
ajfa-4025	1	77	december	december	PROPN
ajfa-4025	1	78	1	1	NUM
ajfa-4025	1	79	,	,	PUNCT
ajfa-4025	1	80	2013	2013	NUM
ajfa-4025	1	81	doi:10.5296	doi:10.5296	NOUN
ajfa-4025	1	82	/	/	SYM
ajfa-4025	1	83	ajfa.v5i2.4025	ajfa.v5i2.4025	PUNCT
ajfa-4025	1	84	url	url	NOUN
ajfa-4025	1	85	:	:	PUNCT
ajfa-4025	1	86	http://dx.doi.org/10.5296/ajfa.v5i2.4025	http://dx.doi.org/10.5296/ajfa.v5i2.4025	NOUN
ajfa-4025	1	87	abstract	abstract	ADJ
ajfa-4025	1	88	this	this	DET
ajfa-4025	1	89	paper	paper	NOUN
ajfa-4025	1	90	investigates	investigate	VERB
ajfa-4025	1	91	the	the	DET
ajfa-4025	1	92	role	role	NOUN
ajfa-4025	1	93	of	of	ADP
ajfa-4025	1	94	macroeconomic	macroeconomic	ADJ
ajfa-4025	1	95	factors	factor	NOUN
ajfa-4025	1	96	and	and	CCONJ
ajfa-4025	1	97	firm	firm	ADJ
ajfa-4025	1	98	characteristics	characteristic	NOUN
ajfa-4025	1	99	in	in	ADP
ajfa-4025	1	100	explaining	explain	VERB
ajfa-4025	1	101	stock	stock	NOUN
ajfa-4025	1	102	return	return	NOUN
ajfa-4025	1	103	in	in	ADP
ajfa-4025	1	104	big	big	ADJ
ajfa-4025	1	105	four	four	NUM
ajfa-4025	1	106	south	south	PROPN
ajfa-4025	1	107	east	east	PROPN
ajfa-4025	1	108	asian	asian	PROPN
ajfa-4025	1	109	(	(	PUNCT
ajfa-4025	1	110	sea	sea	NOUN
ajfa-4025	1	111	)	)	PUNCT
ajfa-4025	1	112	countries	country	NOUN
ajfa-4025	1	113	,	,	PUNCT
ajfa-4025	1	114	namely	namely	ADV
ajfa-4025	1	115	,	,	PUNCT
ajfa-4025	1	116	malaysia	malaysia	PROPN
ajfa-4025	1	117	,	,	PUNCT
ajfa-4025	1	118	indonesia	indonesia	PROPN
ajfa-4025	1	119	,	,	PUNCT
ajfa-4025	1	120	singapore	singapore	PROPN
ajfa-4025	1	121	and	and	CCONJ
ajfa-4025	1	122	thailand	thailand	PROPN
ajfa-4025	1	123	.	.	PUNCT
ajfa-4025	2	1	the	the	DET
ajfa-4025	2	2	factors	factor	NOUN
ajfa-4025	2	3	model	model	NOUN
ajfa-4025	2	4	is	be	AUX
ajfa-4025	2	5	employed	employ	VERB
ajfa-4025	2	6	for	for	ADP
ajfa-4025	2	7	two	two	NUM
ajfa-4025	2	8	time	time	NOUN
ajfa-4025	2	9	intervals	interval	NOUN
ajfa-4025	2	10	,	,	PUNCT
ajfa-4025	2	11	namely	namely	ADV
ajfa-4025	2	12	,	,	PUNCT
ajfa-4025	2	13	sub	sub	NOUN
ajfa-4025	2	14	-	-	NOUN
ajfa-4025	2	15	period	period	NOUN
ajfa-4025	2	16	a	a	PRON
ajfa-4025	2	17	(	(	PUNCT
ajfa-4025	2	18	from	from	ADP
ajfa-4025	2	19	july	july	PROPN
ajfa-4025	2	20	2003	2003	NUM
ajfa-4025	2	21	to	to	ADP
ajfa-4025	2	22	june	june	PROPN
ajfa-4025	2	23	2007	2007	NUM
ajfa-4025	2	24	)	)	PUNCT
ajfa-4025	2	25	and	and	CCONJ
ajfa-4025	2	26	sub	sub	NOUN
ajfa-4025	2	27	-	-	NOUN
ajfa-4025	2	28	period	period	NOUN
ajfa-4025	2	29	b	b	NOUN
ajfa-4025	2	30	(	(	PUNCT
ajfa-4025	2	31	from	from	ADP
ajfa-4025	2	32	july	july	PROPN
ajfa-4025	2	33	2007	2007	NUM
ajfa-4025	2	34	to	to	ADP
ajfa-4025	2	35	june	june	PROPN
ajfa-4025	2	36	2011	2011	NUM
ajfa-4025	2	37	)	)	PUNCT
ajfa-4025	2	38	to	to	PART
ajfa-4025	2	39	examine	examine	VERB
ajfa-4025	2	40	the	the	DET
ajfa-4025	2	41	change	change	NOUN
ajfa-4025	2	42	in	in	ADP
ajfa-4025	2	43	relationship	relationship	NOUN
ajfa-4025	2	44	between	between	ADP
ajfa-4025	2	45	macroeconomic	macroeconomic	ADJ
ajfa-4025	2	46	variables	variable	NOUN
ajfa-4025	2	47	and	and	CCONJ
ajfa-4025	2	48	stock	stock	NOUN
ajfa-4025	2	49	returns	return	NOUN
ajfa-4025	2	50	during	during	ADP
ajfa-4025	2	51	pre	pre	NOUN
ajfa-4025	2	52	and	and	CCONJ
ajfa-4025	2	53	post	post	VERB
ajfa-4025	2	54	global	global	ADJ
ajfa-4025	2	55	financial	financial	ADJ
ajfa-4025	2	56	crisis	crisis	NOUN
ajfa-4025	2	57	of	of	ADP
ajfa-4025	2	58	2007	2007	NUM
ajfa-4025	2	59	.	.	PUNCT
ajfa-4025	3	1	our	our	PRON
ajfa-4025	3	2	empirical	empirical	ADJ
ajfa-4025	3	3	findings	finding	NOUN
ajfa-4025	3	4	reveal	reveal	VERB
ajfa-4025	3	5	that	that	SCONJ
ajfa-4025	3	6	the	the	DET
ajfa-4025	3	7	significance	significance	NOUN
ajfa-4025	3	8	relationship	relationship	NOUN
ajfa-4025	3	9	between	between	ADP
ajfa-4025	3	10	macroeconomic	macroeconomic	ADJ
ajfa-4025	3	11	variables	variable	NOUN
ajfa-4025	3	12	and	and	CCONJ
ajfa-4025	3	13	portfolio	portfolio	NOUN
ajfa-4025	3	14	stock	stock	NOUN
ajfa-4025	3	15	returns	return	NOUN
ajfa-4025	3	16	were	be	AUX
ajfa-4025	3	17	not	not	PART
ajfa-4025	3	18	consistent	consistent	ADJ
ajfa-4025	3	19	for	for	ADP
ajfa-4025	3	20	both	both	DET
ajfa-4025	3	21	sub	sub	NOUN
ajfa-4025	3	22	-	-	NOUN
ajfa-4025	3	23	periods	period	NOUN
ajfa-4025	3	24	.	.	PUNCT
ajfa-4025	4	1	the	the	DET
ajfa-4025	4	2	result	result	NOUN
ajfa-4025	4	3	is	be	AUX
ajfa-4025	4	4	highly	highly	ADV
ajfa-4025	4	5	dependent	dependent	ADJ
ajfa-4025	4	6	on	on	ADP
ajfa-4025	4	7	portfolio	portfolio	NOUN
ajfa-4025	4	8	,	,	PUNCT
ajfa-4025	4	9	country	country	NOUN
ajfa-4025	4	10	and	and	CCONJ
ajfa-4025	4	11	sub	sub	NOUN
ajfa-4025	4	12	-	-	NOUN
ajfa-4025	4	13	period	period	NOUN
ajfa-4025	4	14	.	.	PUNCT
ajfa-4025	5	1	keywords	keyword	NOUN
ajfa-4025	5	2	:	:	PUNCT
ajfa-4025	5	3	stock	stock	NOUN
ajfa-4025	5	4	returns	return	NOUN
ajfa-4025	5	5	;	;	PUNCT
ajfa-4025	5	6	firm	firm	ADJ
ajfa-4025	5	7	characteristics	characteristic	NOUN
ajfa-4025	5	8	,	,	PUNCT
ajfa-4025	5	9	macroeconomic	macroeconomic	ADJ
ajfa-4025	5	10	variables	variable	NOUN
ajfa-4025	5	11	;	;	PUNCT
ajfa-4025	5	12	financial	financial	ADJ
ajfa-4025	5	13	crisis	crisis	NOUN
ajfa-4025	5	14	jel	jel	PROPN
ajfa-4025	5	15	classification	classification	NOUN
ajfa-4025	5	16	codes	code	NOUN
ajfa-4025	5	17	:	:	PUNCT
ajfa-4025	6	1	g11	g11	PROPN
ajfa-4025	6	2	,	,	PUNCT
ajfa-4025	6	3	g12	g12	NOUN
ajfa-4025	6	4	,	,	PUNCT
ajfa-4025	6	5	g14	g14	ADJ
ajfa-4025	6	6	1	1	NUM
ajfa-4025	6	7	nottingham	nottingham	PROPN
ajfa-4025	6	8	university	university	PROPN
ajfa-4025	6	9	business	business	NOUN
ajfa-4025	6	10	school	school	NOUN
ajfa-4025	6	11	,	,	PUNCT
ajfa-4025	6	12	university	university	PROPN
ajfa-4025	6	13	of	of	ADP
ajfa-4025	6	14	nottingham	nottingham	PROPN
ajfa-4025	6	15	,	,	PUNCT
ajfa-4025	6	16	malaysia	malaysia	PROPN
ajfa-4025	6	17	campus	campus	PROPN
ajfa-4025	6	18	,	,	PUNCT
ajfa-4025	6	19	jalan	jalan	PROPN
ajfa-4025	6	20	broga	broga	PROPN
ajfa-4025	6	21	,	,	PUNCT
ajfa-4025	6	22	43500	43500	NUM
ajfa-4025	6	23	.	.	PUNCT
ajfa-4025	7	1	semenyih	semenyih	NOUN
ajfa-4025	7	2	,	,	PUNCT
ajfa-4025	7	3	selangor	selangor	PROPN
ajfa-4025	7	4	,	,	PUNCT
ajfa-4025	7	5	malaysia	malaysia	PROPN
ajfa-4025	7	6	.	.	PUNCT
ajfa-4025	8	1	tel	tel	ADP
ajfa-4025	8	2	:	:	PUNCT
ajfa-4025	8	3	+60(3	+60(3	PROPN
ajfa-4025	8	4	)	)	PUNCT
ajfa-4025	8	5	8924	8924	NUM
ajfa-4025	8	6	8279	8279	NUM
ajfa-4025	8	7	.	.	PUNCT
ajfa-4025	9	1	fax	fax	NOUN
ajfa-4025	9	2	:	:	PUNCT
ajfa-4025	9	3	+60(3	+60(3	PROPN
ajfa-4025	9	4	)	)	PUNCT
ajfa-4025	9	5	8924	8924	NUM
ajfa-4025	9	6	8019	8019	NUM
ajfa-4025	9	7	.	.	PUNCT
ajfa-4025	10	1	email	email	NOUN
ajfa-4025	10	2	:	:	PUNCT
ajfa-4025	10	3	nafis.alam@nottingham.edu.my	nafis.alam@nottingham.edu.my	PROPN
ajfa-4025	10	4	asian	asian	PROPN
ajfa-4025	10	5	journal	journal	PROPN
ajfa-4025	10	6	of	of	ADP
ajfa-4025	10	7	finance	finance	PROPN
ajfa-4025	10	8	&	&	CCONJ
ajfa-4025	10	9	accounting	accounting	PROPN
ajfa-4025	10	10	issn	issn	PROPN
ajfa-4025	10	11	1946	1946	NUM
ajfa-4025	10	12	-	-	PUNCT
ajfa-4025	10	13	052x	052x	NOUN
ajfa-4025	10	14	2013	2013	NUM
ajfa-4025	10	15	,	,	PUNCT
ajfa-4025	10	16	vol	vol	NOUN
ajfa-4025	10	17	.	.	PROPN
ajfa-4025	10	18	5	5	NUM
ajfa-4025	10	19	,	,	PUNCT
ajfa-4025	10	20	no	no	INTJ
ajfa-4025	10	21	.	.	NOUN
ajfa-4025	10	22	2	2	NUM
ajfa-4025	10	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	10	24	160	160	NUM
ajfa-4025	10	25	1	1	NUM
ajfa-4025	10	26	.	.	PUNCT
ajfa-4025	11	1	introduction	introduction	NOUN
ajfa-4025	11	2	over	over	ADP
ajfa-4025	11	3	the	the	DET
ajfa-4025	11	4	years	year	NOUN
ajfa-4025	11	5	,	,	PUNCT
ajfa-4025	11	6	researchers	researcher	NOUN
ajfa-4025	11	7	,	,	PUNCT
ajfa-4025	11	8	economists	economist	NOUN
ajfa-4025	11	9	and	and	CCONJ
ajfa-4025	11	10	financial	financial	ADJ
ajfa-4025	11	11	analysts	analyst	NOUN
ajfa-4025	11	12	have	have	AUX
ajfa-4025	11	13	tried	try	VERB
ajfa-4025	11	14	to	to	PART
ajfa-4025	11	15	use	use	VERB
ajfa-4025	11	16	different	different	ADJ
ajfa-4025	11	17	types	type	NOUN
ajfa-4025	11	18	of	of	ADP
ajfa-4025	11	19	information	information	NOUN
ajfa-4025	11	20	to	to	PART
ajfa-4025	11	21	explain	explain	VERB
ajfa-4025	11	22	stock	stock	NOUN
ajfa-4025	11	23	market	market	NOUN
ajfa-4025	11	24	return	return	NOUN
ajfa-4025	11	25	,	,	PUNCT
ajfa-4025	11	26	for	for	ADP
ajfa-4025	11	27	example	example	NOUN
ajfa-4025	11	28	,	,	PUNCT
ajfa-4025	11	29	the	the	DET
ajfa-4025	11	30	change	change	NOUN
ajfa-4025	11	31	in	in	ADP
ajfa-4025	11	32	economic	economic	ADJ
ajfa-4025	11	33	and	and	CCONJ
ajfa-4025	11	34	financial	financial	ADJ
ajfa-4025	11	35	factors	factor	NOUN
ajfa-4025	11	36	have	have	AUX
ajfa-4025	11	37	been	be	AUX
ajfa-4025	11	38	commonly	commonly	ADV
ajfa-4025	11	39	used	use	VERB
ajfa-4025	11	40	to	to	PART
ajfa-4025	11	41	explain	explain	VERB
ajfa-4025	11	42	the	the	DET
ajfa-4025	11	43	behaviour	behaviour	NOUN
ajfa-4025	11	44	of	of	ADP
ajfa-4025	11	45	different	different	ADJ
ajfa-4025	11	46	stock	stock	NOUN
ajfa-4025	11	47	markets	market	NOUN
ajfa-4025	11	48	around	around	ADP
ajfa-4025	11	49	the	the	DET
ajfa-4025	11	50	world	world	NOUN
ajfa-4025	11	51	.	.	PUNCT
ajfa-4025	12	1	as	as	SCONJ
ajfa-4025	12	2	suggested	suggest	VERB
ajfa-4025	12	3	by	by	ADP
ajfa-4025	12	4	economic	economic	ADJ
ajfa-4025	12	5	theory	theory	NOUN
ajfa-4025	12	6	,	,	PUNCT
ajfa-4025	12	7	the	the	DET
ajfa-4025	12	8	stock	stock	NOUN
ajfa-4025	12	9	price	price	NOUN
ajfa-4025	12	10	should	should	AUX
ajfa-4025	12	11	reflect	reflect	VERB
ajfa-4025	12	12	the	the	DET
ajfa-4025	12	13	expectation	expectation	NOUN
ajfa-4025	12	14	of	of	ADP
ajfa-4025	12	15	corporate	corporate	ADJ
ajfa-4025	12	16	performance	performance	NOUN
ajfa-4025	12	17	,	,	PUNCT
ajfa-4025	12	18	while	while	SCONJ
ajfa-4025	12	19	corporate	corporate	ADJ
ajfa-4025	12	20	profit	profit	NOUN
ajfa-4025	12	21	should	should	AUX
ajfa-4025	12	22	reflect	reflect	VERB
ajfa-4025	12	23	the	the	DET
ajfa-4025	12	24	level	level	NOUN
ajfa-4025	12	25	of	of	ADP
ajfa-4025	12	26	economic	economic	ADJ
ajfa-4025	12	27	activities	activity	NOUN
ajfa-4025	12	28	.	.	PUNCT
ajfa-4025	13	1	if	if	SCONJ
ajfa-4025	13	2	the	the	DET
ajfa-4025	13	3	theory	theory	NOUN
ajfa-4025	13	4	that	that	SCONJ
ajfa-4025	13	5	the	the	DET
ajfa-4025	13	6	stock	stock	NOUN
ajfa-4025	13	7	price	price	NOUN
ajfa-4025	13	8	reflects	reflect	VERB
ajfa-4025	13	9	all	all	DET
ajfa-4025	13	10	the	the	DET
ajfa-4025	13	11	fundamental	fundamental	ADJ
ajfa-4025	13	12	economic	economic	ADJ
ajfa-4025	13	13	factors	factor	NOUN
ajfa-4025	13	14	(	(	PUNCT
ajfa-4025	13	15	macroeconomic	macroeconomic	ADJ
ajfa-4025	13	16	and	and	CCONJ
ajfa-4025	13	17	financial	financial	ADJ
ajfa-4025	13	18	)	)	PUNCT
ajfa-4025	13	19	is	be	AUX
ajfa-4025	13	20	true	true	ADJ
ajfa-4025	13	21	,	,	PUNCT
ajfa-4025	13	22	then	then	ADV
ajfa-4025	13	23	the	the	DET
ajfa-4025	13	24	stock	stock	NOUN
ajfa-4025	13	25	market	market	NOUN
ajfa-4025	13	26	should	should	AUX
ajfa-4025	13	27	be	be	AUX
ajfa-4025	13	28	able	able	ADJ
ajfa-4025	13	29	to	to	PART
ajfa-4025	13	30	be	be	AUX
ajfa-4025	13	31	utilized	utilize	VERB
ajfa-4025	13	32	as	as	ADP
ajfa-4025	13	33	a	a	DET
ajfa-4025	13	34	leading	lead	VERB
ajfa-4025	13	35	indicator	indicator	NOUN
ajfa-4025	13	36	for	for	ADP
ajfa-4025	13	37	current	current	ADJ
ajfa-4025	13	38	as	as	ADV
ajfa-4025	13	39	well	well	ADV
ajfa-4025	13	40	as	as	ADP
ajfa-4025	13	41	future	future	ADJ
ajfa-4025	13	42	economic	economic	ADJ
ajfa-4025	13	43	activities	activity	NOUN
ajfa-4025	13	44	.	.	PUNCT
ajfa-4025	14	1	in	in	ADP
ajfa-4025	14	2	addition	addition	NOUN
ajfa-4025	14	3	,	,	PUNCT
ajfa-4025	14	4	the	the	DET
ajfa-4025	14	5	stock	stock	NOUN
ajfa-4025	14	6	market	market	NOUN
ajfa-4025	14	7	has	have	AUX
ajfa-4025	14	8	been	be	AUX
ajfa-4025	14	9	seen	see	VERB
ajfa-4025	14	10	as	as	ADP
ajfa-4025	14	11	the	the	DET
ajfa-4025	14	12	major	major	ADJ
ajfa-4025	14	13	driver	driver	NOUN
ajfa-4025	14	14	for	for	ADP
ajfa-4025	14	15	economic	economic	ADJ
ajfa-4025	14	16	growth	growth	NOUN
ajfa-4025	14	17	and	and	CCONJ
ajfa-4025	14	18	plays	play	VERB
ajfa-4025	14	19	a	a	DET
ajfa-4025	14	20	significant	significant	ADJ
ajfa-4025	14	21	role	role	NOUN
ajfa-4025	14	22	in	in	ADP
ajfa-4025	14	23	allocation	allocation	NOUN
ajfa-4025	14	24	of	of	ADP
ajfa-4025	14	25	economic	economic	ADJ
ajfa-4025	14	26	resources	resource	NOUN
ajfa-4025	14	27	into	into	ADP
ajfa-4025	14	28	the	the	DET
ajfa-4025	14	29	productive	productive	ADJ
ajfa-4025	14	30	activities	activity	NOUN
ajfa-4025	14	31	of	of	ADP
ajfa-4025	14	32	the	the	DET
ajfa-4025	14	33	economy	economy	NOUN
ajfa-4025	14	34	in	in	ADP
ajfa-4025	14	35	both	both	DET
ajfa-4025	14	36	emerging	emerge	VERB
ajfa-4025	14	37	and	and	CCONJ
ajfa-4025	14	38	developed	developed	ADJ
ajfa-4025	14	39	countries	country	NOUN
ajfa-4025	14	40	(	(	PUNCT
ajfa-4025	14	41	sudhahar	sudhahar	PROPN
ajfa-4025	14	42	&	&	CCONJ
ajfa-4025	14	43	raja	raja	PROPN
ajfa-4025	14	44	,	,	PUNCT
ajfa-4025	14	45	2010	2010	NUM
ajfa-4025	14	46	)	)	PUNCT
ajfa-4025	14	47	.	.	PUNCT
ajfa-4025	15	1	so	so	ADV
ajfa-4025	15	2	,	,	PUNCT
ajfa-4025	15	3	the	the	DET
ajfa-4025	15	4	role	role	NOUN
ajfa-4025	15	5	of	of	ADP
ajfa-4025	15	6	the	the	DET
ajfa-4025	15	7	stock	stock	NOUN
ajfa-4025	15	8	market	market	NOUN
ajfa-4025	15	9	has	have	AUX
ajfa-4025	15	10	made	make	VERB
ajfa-4025	15	11	a	a	DET
ajfa-4025	15	12	significant	significant	ADJ
ajfa-4025	15	13	area	area	NOUN
ajfa-4025	15	14	of	of	ADP
ajfa-4025	15	15	research	research	NOUN
ajfa-4025	15	16	on	on	ADP
ajfa-4025	15	17	the	the	DET
ajfa-4025	15	18	relationship	relationship	NOUN
ajfa-4025	15	19	between	between	ADP
ajfa-4025	15	20	macroeconomic	macroeconomic	ADJ
ajfa-4025	15	21	factor	factor	NOUN
ajfa-4025	15	22	,	,	PUNCT
ajfa-4025	15	23	financial	financial	ADJ
ajfa-4025	15	24	factors	factor	NOUN
ajfa-4025	15	25	and	and	CCONJ
ajfa-4025	15	26	the	the	DET
ajfa-4025	15	27	stock	stock	NOUN
ajfa-4025	15	28	return	return	NOUN
ajfa-4025	15	29	.	.	PUNCT
ajfa-4025	16	1	moreover	moreover	ADV
ajfa-4025	16	2	,	,	PUNCT
ajfa-4025	16	3	it	it	PRON
ajfa-4025	16	4	is	be	AUX
ajfa-4025	16	5	envisaged	envisage	VERB
ajfa-4025	16	6	that	that	SCONJ
ajfa-4025	16	7	this	this	DET
ajfa-4025	16	8	study	study	NOUN
ajfa-4025	16	9	could	could	AUX
ajfa-4025	16	10	be	be	AUX
ajfa-4025	16	11	a	a	DET
ajfa-4025	16	12	good	good	ADJ
ajfa-4025	16	13	reference	reference	NOUN
ajfa-4025	16	14	for	for	ADP
ajfa-4025	16	15	policy	policy	NOUN
ajfa-4025	16	16	makers	maker	NOUN
ajfa-4025	16	17	wishing	wish	VERB
ajfa-4025	16	18	to	to	PART
ajfa-4025	16	19	develop	develop	VERB
ajfa-4025	16	20	and	and	CCONJ
ajfa-4025	16	21	make	make	VERB
ajfa-4025	16	22	decisions	decision	NOUN
ajfa-4025	16	23	regarding	regard	VERB
ajfa-4025	16	24	their	their	PRON
ajfa-4025	16	25	nation	nation	NOUN
ajfa-4025	16	26	’s	’s	PART
ajfa-4025	16	27	macroeconomics	macroeconomic	NOUN
ajfa-4025	16	28	policy	policy	NOUN
ajfa-4025	16	29	without	without	ADP
ajfa-4025	16	30	fear	fear	NOUN
ajfa-4025	16	31	of	of	ADP
ajfa-4025	16	32	influencing	influence	VERB
ajfa-4025	16	33	capital	capital	NOUN
ajfa-4025	16	34	formation	formation	NOUN
ajfa-4025	16	35	and	and	CCONJ
ajfa-4025	16	36	the	the	DET
ajfa-4025	16	37	stock	stock	NOUN
ajfa-4025	16	38	trading	trading	NOUN
ajfa-4025	16	39	process	process	NOUN
ajfa-4025	16	40	.	.	PUNCT
ajfa-4025	17	1	with	with	ADP
ajfa-4025	17	2	regard	regard	NOUN
ajfa-4025	17	3	to	to	ADP
ajfa-4025	17	4	the	the	DET
ajfa-4025	17	5	theoretical	theoretical	ADJ
ajfa-4025	17	6	model	model	NOUN
ajfa-4025	17	7	for	for	ADP
ajfa-4025	17	8	the	the	DET
ajfa-4025	17	9	relationship	relationship	NOUN
ajfa-4025	17	10	between	between	ADP
ajfa-4025	17	11	macroeconomic	macroeconomic	ADJ
ajfa-4025	17	12	factors	factor	NOUN
ajfa-4025	17	13	and	and	CCONJ
ajfa-4025	17	14	stock	stock	NOUN
ajfa-4025	17	15	market	market	NOUN
ajfa-4025	17	16	return	return	NOUN
ajfa-4025	17	17	,	,	PUNCT
ajfa-4025	17	18	capital	capital	NOUN
ajfa-4025	17	19	asset	asset	NOUN
ajfa-4025	17	20	pricing	pricing	NOUN
ajfa-4025	17	21	model	model	NOUN
ajfa-4025	17	22	(	(	PUNCT
ajfa-4025	17	23	capm	capm	PROPN
ajfa-4025	17	24	)	)	PUNCT
ajfa-4025	17	25	has	have	AUX
ajfa-4025	17	26	been	be	AUX
ajfa-4025	17	27	commonly	commonly	ADV
ajfa-4025	17	28	used	use	VERB
ajfa-4025	17	29	to	to	PART
ajfa-4025	17	30	describe	describe	VERB
ajfa-4025	17	31	the	the	DET
ajfa-4025	17	32	link	link	NOUN
ajfa-4025	17	33	between	between	ADP
ajfa-4025	17	34	factors	factor	NOUN
ajfa-4025	17	35	and	and	CCONJ
ajfa-4025	17	36	stock	stock	NOUN
ajfa-4025	17	37	market	market	NOUN
ajfa-4025	17	38	return	return	NOUN
ajfa-4025	17	39	.	.	PUNCT
ajfa-4025	18	1	this	this	DET
ajfa-4025	18	2	model	model	NOUN
ajfa-4025	18	3	emphasizes	emphasize	VERB
ajfa-4025	18	4	the	the	DET
ajfa-4025	18	5	positive	positive	ADJ
ajfa-4025	18	6	linear	linear	NOUN
ajfa-4025	18	7	relationship	relationship	NOUN
ajfa-4025	18	8	between	between	ADP
ajfa-4025	18	9	expected	expect	VERB
ajfa-4025	18	10	security	security	NOUN
ajfa-4025	18	11	returns	return	NOUN
ajfa-4025	18	12	and	and	CCONJ
ajfa-4025	18	13	risk	risk	NOUN
ajfa-4025	18	14	(	(	PUNCT
ajfa-4025	18	15	market	market	NOUN
ajfa-4025	18	16	betas	beta	NOUN
ajfa-4025	18	17	)	)	PUNCT
ajfa-4025	18	18	,	,	PUNCT
ajfa-4025	18	19	which	which	PRON
ajfa-4025	18	20	builds	build	VERB
ajfa-4025	18	21	on	on	ADP
ajfa-4025	18	22	the	the	DET
ajfa-4025	18	23	work	work	NOUN
ajfa-4025	18	24	of	of	ADP
ajfa-4025	18	25	markowitz	markowitz	PROPN
ajfa-4025	18	26	(	(	PUNCT
ajfa-4025	18	27	1952	1952	NUM
ajfa-4025	18	28	)	)	PUNCT
ajfa-4025	18	29	on	on	ADP
ajfa-4025	18	30	the	the	DET
ajfa-4025	18	31	mean	mean	ADJ
ajfa-4025	18	32	value	value	NOUN
ajfa-4025	18	33	mode	mode	NOUN
ajfa-4025	18	34	.	.	PUNCT
ajfa-4025	19	1	this	this	DET
ajfa-4025	19	2	concept	concept	NOUN
ajfa-4025	19	3	was	be	AUX
ajfa-4025	19	4	further	far	ADV
ajfa-4025	19	5	developed	develop	VERB
ajfa-4025	19	6	by	by	ADP
ajfa-4025	19	7	sharpe	sharpe	PROPN
ajfa-4025	19	8	(	(	PUNCT
ajfa-4025	19	9	1964	1964	NUM
ajfa-4025	19	10	)	)	PUNCT
ajfa-4025	19	11	,	,	PUNCT
ajfa-4025	19	12	lintner	lintner	NOUN
ajfa-4025	19	13	(	(	PUNCT
ajfa-4025	19	14	1965	1965	NUM
ajfa-4025	19	15	)	)	PUNCT
ajfa-4025	19	16	and	and	CCONJ
ajfa-4025	19	17	mossin	mossin	NOUN
ajfa-4025	19	18	(	(	PUNCT
ajfa-4025	19	19	1966	1966	NUM
ajfa-4025	19	20	)	)	PUNCT
ajfa-4025	19	21	.	.	PUNCT
ajfa-4025	20	1	the	the	DET
ajfa-4025	20	2	suitability	suitability	NOUN
ajfa-4025	20	3	of	of	ADP
ajfa-4025	20	4	the	the	DET
ajfa-4025	20	5	capm	capm	PROPN
ajfa-4025	20	6	has	have	AUX
ajfa-4025	20	7	been	be	AUX
ajfa-4025	20	8	supported	support	VERB
ajfa-4025	20	9	by	by	ADP
ajfa-4025	20	10	a	a	DET
ajfa-4025	20	11	number	number	NOUN
ajfa-4025	20	12	of	of	ADP
ajfa-4025	20	13	empirical	empirical	ADJ
ajfa-4025	20	14	studies	study	NOUN
ajfa-4025	20	15	such	such	ADJ
ajfa-4025	20	16	as	as	ADP
ajfa-4025	20	17	those	those	PRON
ajfa-4025	20	18	by	by	ADP
ajfa-4025	20	19	black	black	ADJ
ajfa-4025	20	20	,	,	PUNCT
ajfa-4025	20	21	jensen	jensen	PROPN
ajfa-4025	20	22	and	and	CCONJ
ajfa-4025	20	23	scholes	schole	NOUN
ajfa-4025	20	24	(	(	PUNCT
ajfa-4025	20	25	1972	1972	NUM
ajfa-4025	20	26	)	)	PUNCT
ajfa-4025	20	27	and	and	CCONJ
ajfa-4025	20	28	fama	fama	PROPN
ajfa-4025	20	29	and	and	CCONJ
ajfa-4025	20	30	macbeth	macbeth	PROPN
ajfa-4025	20	31	(	(	PUNCT
ajfa-4025	20	32	1973	1973	NUM
ajfa-4025	20	33	)	)	PUNCT
ajfa-4025	20	34	.	.	PUNCT
ajfa-4025	21	1	however	however	ADV
ajfa-4025	21	2	,	,	PUNCT
ajfa-4025	21	3	its	its	PRON
ajfa-4025	21	4	shortcomings	shortcoming	NOUN
ajfa-4025	21	5	have	have	AUX
ajfa-4025	21	6	been	be	AUX
ajfa-4025	21	7	the	the	DET
ajfa-4025	21	8	subject	subject	NOUN
ajfa-4025	21	9	of	of	ADP
ajfa-4025	21	10	intense	intense	ADJ
ajfa-4025	21	11	debate	debate	NOUN
ajfa-4025	21	12	,	,	PUNCT
ajfa-4025	21	13	for	for	ADP
ajfa-4025	21	14	example	example	NOUN
ajfa-4025	21	15	,	,	PUNCT
ajfa-4025	21	16	in	in	ADP
ajfa-4025	21	17	relation	relation	NOUN
ajfa-4025	21	18	to	to	ADP
ajfa-4025	21	19	the	the	DET
ajfa-4025	21	20	use	use	NOUN
ajfa-4025	21	21	of	of	ADP
ajfa-4025	21	22	the	the	DET
ajfa-4025	21	23	mean	mean	ADJ
ajfa-4025	21	24	-	-	PUNCT
ajfa-4025	21	25	variance	variance	NOUN
ajfa-4025	21	26	model	model	NOUN
ajfa-4025	21	27	’s	’s	PART
ajfa-4025	21	28	beta	beta	NOUN
ajfa-4025	21	29	to	to	PART
ajfa-4025	21	30	determine	determine	VERB
ajfa-4025	21	31	the	the	DET
ajfa-4025	21	32	stock	stock	NOUN
ajfa-4025	21	33	return	return	NOUN
ajfa-4025	21	34	and	and	CCONJ
ajfa-4025	21	35	the	the	DET
ajfa-4025	21	36	poor	poor	ADJ
ajfa-4025	21	37	market	market	NOUN
ajfa-4025	21	38	proxy	proxy	NOUN
ajfa-4025	21	39	by	by	ADP
ajfa-4025	21	40	using	use	VERB
ajfa-4025	21	41	the	the	DET
ajfa-4025	21	42	mean	mean	ADJ
ajfa-4025	21	43	-	-	PUNCT
ajfa-4025	21	44	variance	variance	NOUN
ajfa-4025	21	45	efficient	efficient	ADJ
ajfa-4025	21	46	concept	concept	NOUN
ajfa-4025	21	47	.	.	PUNCT
ajfa-4025	22	1	the	the	DET
ajfa-4025	22	2	researcher	researcher	NOUN
ajfa-4025	22	3	has	have	AUX
ajfa-4025	22	4	used	use	VERB
ajfa-4025	22	5	firm	firm	ADJ
ajfa-4025	22	6	-	-	PUNCT
ajfa-4025	22	7	specific	specific	ADJ
ajfa-4025	22	8	factors	factor	NOUN
ajfa-4025	22	9	to	to	PART
ajfa-4025	22	10	explain	explain	VERB
ajfa-4025	22	11	the	the	DET
ajfa-4025	22	12	stock	stock	NOUN
ajfa-4025	22	13	return	return	NOUN
ajfa-4025	22	14	for	for	ADP
ajfa-4025	22	15	instance	instance	NOUN
ajfa-4025	22	16	,	,	PUNCT
ajfa-4025	22	17	the	the	DET
ajfa-4025	22	18	small	small	ADJ
ajfa-4025	22	19	firm	firm	ADJ
ajfa-4025	22	20	effect	effect	NOUN
ajfa-4025	22	21	(	(	PUNCT
ajfa-4025	22	22	keim	keim	NOUN
ajfa-4025	22	23	,	,	PUNCT
ajfa-4025	22	24	1983	1983	NUM
ajfa-4025	22	25	)	)	PUNCT
ajfa-4025	22	26	,	,	PUNCT
ajfa-4025	22	27	leverage	leverage	NOUN
ajfa-4025	22	28	effect	effect	NOUN
ajfa-4025	22	29	(	(	PUNCT
ajfa-4025	22	30	bhandari	bhandari	NOUN
ajfa-4025	22	31	,	,	PUNCT
ajfa-4025	22	32	1988	1988	NUM
ajfa-4025	22	33	)	)	PUNCT
ajfa-4025	22	34	,	,	PUNCT
ajfa-4025	22	35	book	book	NOUN
ajfa-4025	22	36	-	-	PUNCT
ajfa-4025	22	37	to	to	ADP
ajfa-4025	22	38	-	-	PUNCT
ajfa-4025	22	39	market	market	NOUN
ajfa-4025	22	40	effect	effect	NOUN
ajfa-4025	22	41	(	(	PUNCT
ajfa-4025	22	42	stattman	stattman	NOUN
ajfa-4025	22	43	,	,	PUNCT
ajfa-4025	22	44	1980	1980	NUM
ajfa-4025	22	45	;	;	PUNCT
ajfa-4025	22	46	rosenberg	rosenberg	PROPN
ajfa-4025	22	47	et	et	PROPN
ajfa-4025	22	48	al	al	PROPN
ajfa-4025	22	49	.	.	PROPN
ajfa-4025	22	50	,	,	PUNCT
ajfa-4025	22	51	1985	1985	NUM
ajfa-4025	22	52	)	)	PUNCT
ajfa-4025	22	53	and	and	CCONJ
ajfa-4025	22	54	the	the	DET
ajfa-4025	22	55	pe	pe	PROPN
ajfa-4025	22	56	effect	effect	NOUN
ajfa-4025	22	57	(	(	PUNCT
ajfa-4025	22	58	ball	ball	NOUN
ajfa-4025	22	59	,	,	PUNCT
ajfa-4025	22	60	1978	1978	NUM
ajfa-4025	22	61	;	;	PUNCT
ajfa-4025	22	62	basu,1983	basu,1983	NOUN
ajfa-4025	22	63	)	)	PUNCT
ajfa-4025	22	64	and	and	CCONJ
ajfa-4025	22	65	the	the	DET
ajfa-4025	22	66	results	result	NOUN
ajfa-4025	22	67	show	show	VERB
ajfa-4025	22	68	that	that	SCONJ
ajfa-4025	22	69	these	these	DET
ajfa-4025	22	70	methods	method	NOUN
ajfa-4025	22	71	for	for	ADP
ajfa-4025	22	72	the	the	DET
ajfa-4025	22	73	estimates	estimate	NOUN
ajfa-4025	22	74	are	be	AUX
ajfa-4025	22	75	less	less	ADV
ajfa-4025	22	76	noisy	noisy	ADJ
ajfa-4025	22	77	in	in	ADP
ajfa-4025	22	78	comparison	comparison	NOUN
ajfa-4025	22	79	with	with	ADP
ajfa-4025	22	80	capm	capm	PROPN
ajfa-4025	22	81	beta	beta	PROPN
ajfa-4025	22	82	.	.	PUNCT
ajfa-4025	23	1	as	as	ADP
ajfa-4025	23	2	a	a	DET
ajfa-4025	23	3	result	result	NOUN
ajfa-4025	23	4	of	of	ADP
ajfa-4025	23	5	a	a	DET
ajfa-4025	23	6	number	number	NOUN
ajfa-4025	23	7	of	of	ADP
ajfa-4025	23	8	shortcomings	shortcoming	NOUN
ajfa-4025	23	9	in	in	ADP
ajfa-4025	23	10	the	the	DET
ajfa-4025	23	11	capm	capm	NOUN
ajfa-4025	23	12	,	,	PUNCT
ajfa-4025	23	13	the	the	DET
ajfa-4025	23	14	arbitrage	arbitrage	NOUN
ajfa-4025	23	15	pricing	pricing	NOUN
ajfa-4025	23	16	theory	theory	NOUN
ajfa-4025	23	17	(	(	PUNCT
ajfa-4025	23	18	apt	apt	ADJ
ajfa-4025	23	19	)	)	PUNCT
ajfa-4025	23	20	was	be	AUX
ajfa-4025	23	21	developed	develop	VERB
ajfa-4025	23	22	by	by	ADP
ajfa-4025	23	23	ross	ross	PROPN
ajfa-4025	23	24	(	(	PUNCT
ajfa-4025	23	25	1976a	1976a	NUM
ajfa-4025	23	26	)	)	PUNCT
ajfa-4025	23	27	and	and	CCONJ
ajfa-4025	23	28	this	this	DET
ajfa-4025	23	29	development	development	NOUN
ajfa-4025	23	30	has	have	AUX
ajfa-4025	23	31	been	be	AUX
ajfa-4025	23	32	treated	treat	VERB
ajfa-4025	23	33	as	as	ADP
ajfa-4025	23	34	the	the	DET
ajfa-4025	23	35	natural	natural	ADJ
ajfa-4025	23	36	successor	successor	NOUN
ajfa-4025	23	37	to	to	ADP
ajfa-4025	23	38	the	the	DET
ajfa-4025	23	39	capm	capm	PROPN
ajfa-4025	23	40	.	.	PUNCT
ajfa-4025	24	1	unlike	unlike	ADP
ajfa-4025	24	2	the	the	DET
ajfa-4025	24	3	capm	capm	PROPN
ajfa-4025	24	4	,	,	PUNCT
ajfa-4025	24	5	the	the	DET
ajfa-4025	24	6	apt	apt	ADJ
ajfa-4025	24	7	allows	allow	VERB
ajfa-4025	24	8	for	for	ADP
ajfa-4025	24	9	multiple	multiple	ADJ
ajfa-4025	24	10	risk	risk	NOUN
ajfa-4025	24	11	factors	factor	NOUN
ajfa-4025	24	12	to	to	PART
ajfa-4025	24	13	be	be	AUX
ajfa-4025	24	14	taken	take	VERB
ajfa-4025	24	15	into	into	ADP
ajfa-4025	24	16	account	account	NOUN
ajfa-4025	24	17	in	in	ADP
ajfa-4025	24	18	the	the	DET
ajfa-4025	24	19	process	process	NOUN
ajfa-4025	24	20	for	for	ADP
ajfa-4025	24	21	generating	generate	VERB
ajfa-4025	24	22	calculations	calculation	NOUN
ajfa-4025	24	23	of	of	ADP
ajfa-4025	24	24	asset	asset	NOUN
ajfa-4025	24	25	return	return	NOUN
ajfa-4025	24	26	.	.	PUNCT
ajfa-4025	25	1	generally	generally	ADV
ajfa-4025	25	2	,	,	PUNCT
ajfa-4025	25	3	the	the	DET
ajfa-4025	25	4	factor	factor	NOUN
ajfa-4025	25	5	selection	selection	NOUN
ajfa-4025	25	6	can	can	AUX
ajfa-4025	25	7	be	be	AUX
ajfa-4025	25	8	streamlined	streamline	VERB
ajfa-4025	25	9	into	into	ADP
ajfa-4025	25	10	three	three	NUM
ajfa-4025	25	11	main	main	ADJ
ajfa-4025	25	12	approaches	approach	NOUN
ajfa-4025	25	13	.	.	PUNCT
ajfa-4025	26	1	the	the	DET
ajfa-4025	26	2	first	first	ADJ
ajfa-4025	26	3	approach	approach	NOUN
ajfa-4025	26	4	for	for	ADP
ajfa-4025	26	5	factor	factor	NOUN
ajfa-4025	26	6	selection	selection	NOUN
ajfa-4025	26	7	estimates	estimate	VERB
ajfa-4025	26	8	sample	sample	NOUN
ajfa-4025	26	9	covariance	covariance	NOUN
ajfa-4025	26	10	matrices	matrix	NOUN
ajfa-4025	26	11	by	by	ADP
ajfa-4025	26	12	using	use	VERB
ajfa-4025	26	13	statistical	statistical	ADJ
ajfa-4025	26	14	techniques	technique	NOUN
ajfa-4025	26	15	such	such	ADJ
ajfa-4025	26	16	as	as	ADP
ajfa-4025	26	17	factor	factor	NOUN
ajfa-4025	26	18	analysis	analysis	NOUN
ajfa-4025	26	19	proposed	propose	VERB
ajfa-4025	26	20	in	in	ADP
ajfa-4025	26	21	the	the	DET
ajfa-4025	26	22	studies	study	NOUN
ajfa-4025	26	23	of	of	ADP
ajfa-4025	26	24	roll	roll	NOUN
ajfa-4025	26	25	and	and	CCONJ
ajfa-4025	26	26	ross(1980	ross(1980	NOUN
ajfa-4025	26	27	)	)	PUNCT
ajfa-4025	26	28	,	,	PUNCT
ajfa-4025	26	29	chen(1983	chen(1983	NOUN
ajfa-4025	26	30	)	)	PUNCT
ajfa-4025	26	31	and	and	CCONJ
ajfa-4025	26	32	lehman	lehman	NOUN
ajfa-4025	26	33	and	and	CCONJ
ajfa-4025	26	34	modest(1988	modest(1988	NOUN
ajfa-4025	26	35	)	)	PUNCT
ajfa-4025	26	36	and	and	CCONJ
ajfa-4025	26	37	principal	principal	ADJ
ajfa-4025	26	38	component	component	NOUN
ajfa-4025	26	39	analysis	analysis	NOUN
ajfa-4025	26	40	(	(	PUNCT
ajfa-4025	26	41	pca	pca	NOUN
ajfa-4025	26	42	)	)	PUNCT
ajfa-4025	26	43	recommended	recommend	VERB
ajfa-4025	26	44	by	by	ADP
ajfa-4025	26	45	chamberlain	chamberlain	NOUN
ajfa-4025	26	46	and	and	CCONJ
ajfa-4025	26	47	rothschild(1983	rothschild(1983	NUM
ajfa-4025	26	48	)	)	PUNCT
ajfa-4025	26	49	and	and	CCONJ
ajfa-4025	26	50	connor	connor	NOUN
ajfa-4025	26	51	and	and	CCONJ
ajfa-4025	26	52	korajaczyk	korajaczyk	PROPN
ajfa-4025	26	53	(	(	PUNCT
ajfa-4025	26	54	1985	1985	NUM
ajfa-4025	26	55	,	,	PUNCT
ajfa-4025	26	56	1986	1986	NUM
ajfa-4025	26	57	)	)	PUNCT
ajfa-4025	26	58	.	.	PUNCT
ajfa-4025	27	1	the	the	DET
ajfa-4025	27	2	second	second	ADJ
ajfa-4025	27	3	approach	approach	NOUN
ajfa-4025	27	4	suggests	suggest	VERB
ajfa-4025	27	5	the	the	DET
ajfa-4025	27	6	use	use	NOUN
ajfa-4025	27	7	of	of	ADP
ajfa-4025	27	8	macroeconomic	macroeconomic	ADJ
ajfa-4025	27	9	variables	variable	NOUN
ajfa-4025	27	10	as	as	ADP
ajfa-4025	27	11	factors	factor	NOUN
ajfa-4025	27	12	.	.	PUNCT
ajfa-4025	28	1	for	for	ADP
ajfa-4025	28	2	instance	instance	NOUN
ajfa-4025	28	3	,	,	PUNCT
ajfa-4025	28	4	chen	chen	PROPN
ajfa-4025	28	5	,	,	PUNCT
ajfa-4025	28	6	roll	roll	NOUN
ajfa-4025	28	7	and	and	CCONJ
ajfa-4025	28	8	ross	ross	PROPN
ajfa-4025	28	9	(	(	PUNCT
ajfa-4025	28	10	1986	1986	NUM
ajfa-4025	28	11	)	)	PUNCT
ajfa-4025	28	12	use	use	VERB
ajfa-4025	28	13	asian	asian	ADJ
ajfa-4025	28	14	journal	journal	NOUN
ajfa-4025	28	15	of	of	ADP
ajfa-4025	28	16	finance	finance	PROPN
ajfa-4025	28	17	&	&	CCONJ
ajfa-4025	28	18	accounting	accounting	PROPN
ajfa-4025	28	19	issn	issn	PROPN
ajfa-4025	28	20	1946	1946	NUM
ajfa-4025	28	21	-	-	PUNCT
ajfa-4025	28	22	052x	052x	NOUN
ajfa-4025	28	23	2013	2013	NUM
ajfa-4025	28	24	,	,	PUNCT
ajfa-4025	28	25	vol	vol	NOUN
ajfa-4025	28	26	.	.	PROPN
ajfa-4025	28	27	5	5	NUM
ajfa-4025	28	28	,	,	PUNCT
ajfa-4025	28	29	no	no	INTJ
ajfa-4025	28	30	.	.	NOUN
ajfa-4025	28	31	2	2	NUM
ajfa-4025	28	32	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	28	33	161	161	NUM
ajfa-4025	28	34	macroeconomic	macroeconomic	ADJ
ajfa-4025	28	35	variables	variable	NOUN
ajfa-4025	28	36	to	to	PART
ajfa-4025	28	37	explain	explain	VERB
ajfa-4025	28	38	the	the	DET
ajfa-4025	28	39	cross	cross	ADJ
ajfa-4025	28	40	-	-	ADJ
ajfa-4025	28	41	sectional	sectional	ADJ
ajfa-4025	28	42	variations	variation	NOUN
ajfa-4025	28	43	in	in	ADP
ajfa-4025	28	44	estimated	estimate	VERB
ajfa-4025	28	45	expected	expect	VERB
ajfa-4025	28	46	returns	return	NOUN
ajfa-4025	28	47	.	.	PUNCT
ajfa-4025	29	1	macroeconomic	macroeconomic	ADJ
ajfa-4025	29	2	factors	factor	NOUN
ajfa-4025	29	3	include	include	VERB
ajfa-4025	29	4	term	term	NOUN
ajfa-4025	29	5	structure	structure	NOUN
ajfa-4025	29	6	,	,	PUNCT
ajfa-4025	29	7	inflation	inflation	NOUN
ajfa-4025	29	8	rate	rate	NOUN
ajfa-4025	29	9	,	,	PUNCT
ajfa-4025	29	10	money	money	NOUN
ajfa-4025	29	11	supply	supply	NOUN
ajfa-4025	29	12	,	,	PUNCT
ajfa-4025	29	13	exchange	exchange	NOUN
ajfa-4025	29	14	rate	rate	NOUN
ajfa-4025	29	15	,	,	PUNCT
ajfa-4025	29	16	while	while	SCONJ
ajfa-4025	29	17	additional	additional	ADJ
ajfa-4025	29	18	factors	factor	NOUN
ajfa-4025	29	19	have	have	AUX
ajfa-4025	29	20	continued	continue	VERB
ajfa-4025	29	21	to	to	PART
ajfa-4025	29	22	be	be	AUX
ajfa-4025	29	23	added	add	VERB
ajfa-4025	29	24	by	by	ADP
ajfa-4025	29	25	researchers	researcher	NOUN
ajfa-4025	29	26	(	(	PUNCT
ajfa-4025	29	27	maysami	maysami	NOUN
ajfa-4025	29	28	,	,	PUNCT
ajfa-4025	29	29	2004	2004	NUM
ajfa-4025	29	30	;	;	PUNCT
ajfa-4025	29	31	humpe	humpe	PROPN
ajfa-4025	29	32	&	&	CCONJ
ajfa-4025	29	33	macmillan	macmillan	PROPN
ajfa-4025	29	34	,	,	PUNCT
ajfa-4025	29	35	2007	2007	NUM
ajfa-4025	29	36	)	)	PUNCT
ajfa-4025	29	37	as	as	ADP
ajfa-4025	29	38	risk	risk	NOUN
ajfa-4025	29	39	factors	factor	NOUN
ajfa-4025	29	40	for	for	ADP
ajfa-4025	29	41	stock	stock	NOUN
ajfa-4025	29	42	market	market	NOUN
ajfa-4025	29	43	.	.	PUNCT
ajfa-4025	30	1	the	the	DET
ajfa-4025	30	2	third	third	ADJ
ajfa-4025	30	3	approach	approach	NOUN
ajfa-4025	30	4	is	be	AUX
ajfa-4025	30	5	used	use	VERB
ajfa-4025	30	6	the	the	DET
ajfa-4025	30	7	firm	firm	ADJ
ajfa-4025	30	8	characteristics	characteristic	NOUN
ajfa-4025	30	9	as	as	ADP
ajfa-4025	30	10	the	the	DET
ajfa-4025	30	11	portfolio	portfolio	NOUN
ajfa-4025	30	12	return	return	NOUN
ajfa-4025	30	13	and	and	CCONJ
ajfa-4025	30	14	this	this	PRON
ajfa-4025	30	15	are	be	AUX
ajfa-4025	30	16	used	use	VERB
ajfa-4025	30	17	to	to	PART
ajfa-4025	30	18	assess	assess	VERB
ajfa-4025	30	19	firm	firm	ADJ
ajfa-4025	30	20	sensitivity	sensitivity	NOUN
ajfa-4025	30	21	and	and	CCONJ
ajfa-4025	30	22	systematic	systematic	ADJ
ajfa-4025	30	23	risk	risk	NOUN
ajfa-4025	30	24	in	in	ADP
ajfa-4025	30	25	the	the	DET
ajfa-4025	30	26	economy	economy	NOUN
ajfa-4025	30	27	.	.	PUNCT
ajfa-4025	31	1	fama	fama	PROPN
ajfa-4025	31	2	and	and	CCONJ
ajfa-4025	31	3	french	french	ADJ
ajfa-4025	31	4	(	(	PUNCT
ajfa-4025	31	5	1992	1992	NUM
ajfa-4025	31	6	)	)	PUNCT
ajfa-4025	31	7	sorted	sort	VERB
ajfa-4025	31	8	firm	firm	ADJ
ajfa-4025	31	9	characteristics	characteristic	NOUN
ajfa-4025	31	10	such	such	ADJ
ajfa-4025	31	11	as	as	ADP
ajfa-4025	31	12	size	size	NOUN
ajfa-4025	31	13	,	,	PUNCT
ajfa-4025	31	14	leverage	leverage	NOUN
ajfa-4025	31	15	and	and	CCONJ
ajfa-4025	31	16	book	book	NOUN
ajfa-4025	31	17	-	-	PUNCT
ajfa-4025	31	18	to	to	ADP
ajfa-4025	31	19	-	-	PUNCT
ajfa-4025	31	20	market	market	NOUN
ajfa-4025	31	21	equity	equity	NOUN
ajfa-4025	31	22	into	into	ADP
ajfa-4025	31	23	different	different	ADJ
ajfa-4025	31	24	portfolio	portfolio	NOUN
ajfa-4025	31	25	structures	structure	NOUN
ajfa-4025	31	26	and	and	CCONJ
ajfa-4025	31	27	determined	determine	VERB
ajfa-4025	31	28	the	the	DET
ajfa-4025	31	29	interaction	interaction	NOUN
ajfa-4025	31	30	between	between	ADP
ajfa-4025	31	31	different	different	ADJ
ajfa-4025	31	32	portfolio	portfolio	NOUN
ajfa-4025	31	33	structure	structure	NOUN
ajfa-4025	31	34	returns	return	NOUN
ajfa-4025	31	35	and	and	CCONJ
ajfa-4025	31	36	different	different	ADJ
ajfa-4025	31	37	betas	beta	NOUN
ajfa-4025	31	38	estimation	estimation	NOUN
ajfa-4025	31	39	.	.	PUNCT
ajfa-4025	32	1	other	other	ADJ
ajfa-4025	32	2	similar	similar	ADJ
ajfa-4025	32	3	findings	finding	NOUN
ajfa-4025	32	4	exist	exist	VERB
ajfa-4025	32	5	for	for	ADP
ajfa-4025	32	6	this	this	DET
ajfa-4025	32	7	approach	approach	NOUN
ajfa-4025	32	8	,	,	PUNCT
ajfa-4025	32	9	such	such	ADJ
ajfa-4025	32	10	as	as	ADP
ajfa-4025	32	11	those	those	PRON
ajfa-4025	32	12	of	of	ADP
ajfa-4025	32	13	rosenberg	rosenberg	PROPN
ajfa-4025	32	14	,	,	PUNCT
ajfa-4025	32	15	reid	reid	PROPN
ajfa-4025	32	16	and	and	CCONJ
ajfa-4025	32	17	lanstein	lanstein	ADJ
ajfa-4025	32	18	(	(	PUNCT
ajfa-4025	32	19	1985	1985	NUM
ajfa-4025	32	20	)	)	PUNCT
ajfa-4025	32	21	,	,	PUNCT
ajfa-4025	32	22	chan	chan	PROPN
ajfa-4025	32	23	,	,	PUNCT
ajfa-4025	32	24	hamao	hamao	ADJ
ajfa-4025	32	25	and	and	CCONJ
ajfa-4025	32	26	lakonishok	lakonishok	PROPN
ajfa-4025	32	27	(	(	PUNCT
ajfa-4025	32	28	1991	1991	NUM
ajfa-4025	32	29	)	)	PUNCT
ajfa-4025	32	30	,	,	PUNCT
ajfa-4025	32	31	fama	fama	PROPN
ajfa-4025	32	32	and	and	CCONJ
ajfa-4025	32	33	french	french	ADJ
ajfa-4025	32	34	(	(	PUNCT
ajfa-4025	32	35	1993	1993	NUM
ajfa-4025	32	36	)	)	PUNCT
ajfa-4025	32	37	,	,	PUNCT
ajfa-4025	32	38	charitou	charitou	NOUN
ajfa-4025	32	39	and	and	CCONJ
ajfa-4025	32	40	constantinidis	constantinidis	PROPN
ajfa-4025	32	41	(	(	PUNCT
ajfa-4025	32	42	2004	2004	NUM
ajfa-4025	32	43	)	)	PUNCT
ajfa-4025	32	44	and	and	CCONJ
ajfa-4025	32	45	simlai	simlai	NOUN
ajfa-4025	32	46	(	(	PUNCT
ajfa-4025	32	47	2009	2009	NUM
ajfa-4025	32	48	)	)	PUNCT
ajfa-4025	32	49	,	,	PUNCT
ajfa-4025	32	50	which	which	PRON
ajfa-4025	32	51	observe	observe	VERB
ajfa-4025	32	52	the	the	DET
ajfa-4025	32	53	interaction	interaction	NOUN
ajfa-4025	32	54	between	between	ADP
ajfa-4025	32	55	stock	stock	NOUN
ajfa-4025	32	56	return	return	NOUN
ajfa-4025	32	57	and	and	CCONJ
ajfa-4025	32	58	ratio	ratio	NOUN
ajfa-4025	32	59	of	of	ADP
ajfa-4025	32	60	book	book	NOUN
ajfa-4025	32	61	-	-	PUNCT
ajfa-4025	32	62	to	to	ADP
ajfa-4025	32	63	-	-	PUNCT
ajfa-4025	32	64	market	market	NOUN
ajfa-4025	32	65	equity	equity	NOUN
ajfa-4025	32	66	.	.	PUNCT
ajfa-4025	33	1	on	on	ADP
ajfa-4025	33	2	the	the	DET
ajfa-4025	33	3	other	other	ADJ
ajfa-4025	33	4	hand	hand	NOUN
ajfa-4025	33	5	,	,	PUNCT
ajfa-4025	33	6	the	the	DET
ajfa-4025	33	7	study	study	NOUN
ajfa-4025	33	8	of	of	ADP
ajfa-4025	33	9	ball	ball	NOUN
ajfa-4025	33	10	(	(	PUNCT
ajfa-4025	33	11	1978	1978	NUM
ajfa-4025	33	12	)	)	PUNCT
ajfa-4025	33	13	,	,	PUNCT
ajfa-4025	33	14	basu	basu	PROPN
ajfa-4025	33	15	(	(	PUNCT
ajfa-4025	33	16	1983	1983	NUM
ajfa-4025	33	17	)	)	PUNCT
ajfa-4025	33	18	,	,	PUNCT
ajfa-4025	33	19	shen	shen	NOUN
ajfa-4025	33	20	(	(	PUNCT
ajfa-4025	33	21	2000	2000	NUM
ajfa-4025	33	22	)	)	PUNCT
ajfa-4025	33	23	and	and	CCONJ
ajfa-4025	33	24	truong	truong	PROPN
ajfa-4025	33	25	(	(	PUNCT
ajfa-4025	33	26	2009	2009	NUM
ajfa-4025	33	27	)	)	PUNCT
ajfa-4025	33	28	observe	observe	VERB
ajfa-4025	33	29	the	the	DET
ajfa-4025	33	30	relationship	relationship	NOUN
ajfa-4025	33	31	between	between	ADP
ajfa-4025	33	32	stock	stock	NOUN
ajfa-4025	33	33	return	return	NOUN
ajfa-4025	33	34	and	and	CCONJ
ajfa-4025	33	35	ratio	ratio	NOUN
ajfa-4025	33	36	of	of	ADP
ajfa-4025	33	37	price	price	NOUN
ajfa-4025	33	38	-	-	PUNCT
ajfa-4025	33	39	to	to	ADP
ajfa-4025	33	40	-	-	PUNCT
ajfa-4025	33	41	earning	earn	VERB
ajfa-4025	33	42	.	.	PUNCT
ajfa-4025	34	1	many	many	ADJ
ajfa-4025	34	2	studies	study	NOUN
ajfa-4025	34	3	have	have	AUX
ajfa-4025	34	4	documented	document	VERB
ajfa-4025	34	5	the	the	DET
ajfa-4025	34	6	relationship	relationship	NOUN
ajfa-4025	34	7	between	between	ADP
ajfa-4025	34	8	macroeconomic	macroeconomic	ADJ
ajfa-4025	34	9	variables	variable	NOUN
ajfa-4025	34	10	and	and	CCONJ
ajfa-4025	34	11	stock	stock	NOUN
ajfa-4025	34	12	returns	return	NOUN
ajfa-4025	34	13	.	.	PUNCT
ajfa-4025	35	1	some	some	PRON
ajfa-4025	35	2	of	of	ADP
ajfa-4025	35	3	these	these	DET
ajfa-4025	35	4	studies	study	NOUN
ajfa-4025	35	5	have	have	AUX
ajfa-4025	35	6	examined	examine	VERB
ajfa-4025	35	7	this	this	DET
ajfa-4025	35	8	relationship	relationship	NOUN
ajfa-4025	35	9	for	for	ADP
ajfa-4025	35	10	developed	develop	VERB
ajfa-4025	35	11	markets	market	NOUN
ajfa-4025	35	12	such	such	ADJ
ajfa-4025	35	13	as	as	ADP
ajfa-4025	35	14	usa	usa	PROPN
ajfa-4025	35	15	,	,	PUNCT
ajfa-4025	35	16	japan	japan	PROPN
ajfa-4025	35	17	and	and	CCONJ
ajfa-4025	35	18	europe	europe	PROPN
ajfa-4025	35	19	(	(	PUNCT
ajfa-4025	35	20	chen	chen	PROPN
ajfa-4025	35	21	,	,	PUNCT
ajfa-4025	35	22	roll	roll	NOUN
ajfa-4025	35	23	and	and	CCONJ
ajfa-4025	35	24	ross	ross	PROPN
ajfa-4025	35	25	(	(	PUNCT
ajfa-4025	35	26	1986	1986	NUM
ajfa-4025	35	27	)	)	PUNCT
ajfa-4025	35	28	,	,	PUNCT
ajfa-4025	35	29	chen	chen	PROPN
ajfa-4025	35	30	(	(	PUNCT
ajfa-4025	35	31	1991	1991	NUM
ajfa-4025	35	32	)	)	PUNCT
ajfa-4025	35	33	,	,	PUNCT
ajfa-4025	35	34	clare	clare	NOUN
ajfa-4025	35	35	and	and	CCONJ
ajfa-4025	35	36	thomas	thomas	PROPN
ajfa-4025	35	37	(	(	PUNCT
ajfa-4025	35	38	1994	1994	NUM
ajfa-4025	35	39	)	)	PUNCT
ajfa-4025	35	40	,	,	PUNCT
ajfa-4025	35	41	mukherjee	mukherjee	NOUN
ajfa-4025	35	42	and	and	CCONJ
ajfa-4025	35	43	naka	naka	PROPN
ajfa-4025	35	44	(	(	PUNCT
ajfa-4025	35	45	1995	1995	NUM
ajfa-4025	35	46	)	)	PUNCT
ajfa-4025	35	47	,	,	PUNCT
ajfa-4025	35	48	gjerde	gjerde	VERB
ajfa-4025	35	49	and	and	CCONJ
ajfa-4025	35	50	saettem	saettem	NOUN
ajfa-4025	35	51	(	(	PUNCT
ajfa-4025	35	52	1999	1999	NUM
ajfa-4025	35	53	)	)	PUNCT
ajfa-4025	35	54	,	,	PUNCT
ajfa-4025	35	55	flannery	flannery	NOUN
ajfa-4025	35	56	and	and	CCONJ
ajfa-4025	35	57	protopapadakis	protopapadaki	NOUN
ajfa-4025	35	58	(	(	PUNCT
ajfa-4025	35	59	2002	2002	NUM
ajfa-4025	35	60	)	)	PUNCT
ajfa-4025	35	61	)	)	PUNCT
ajfa-4025	35	62	.	.	PUNCT
ajfa-4025	36	1	on	on	ADP
ajfa-4025	36	2	the	the	DET
ajfa-4025	36	3	other	other	ADJ
ajfa-4025	36	4	hand	hand	NOUN
ajfa-4025	36	5	,	,	PUNCT
ajfa-4025	36	6	some	some	DET
ajfa-4025	36	7	other	other	ADJ
ajfa-4025	36	8	studies	study	NOUN
ajfa-4025	36	9	investigated	investigate	VERB
ajfa-4025	36	10	the	the	DET
ajfa-4025	36	11	situation	situation	NOUN
ajfa-4025	36	12	for	for	ADP
ajfa-4025	36	13	developing	develop	VERB
ajfa-4025	36	14	markets	market	NOUN
ajfa-4025	36	15	,	,	PUNCT
ajfa-4025	36	16	particularly	particularly	ADV
ajfa-4025	36	17	in	in	ADP
ajfa-4025	36	18	the	the	DET
ajfa-4025	36	19	east	east	PROPN
ajfa-4025	36	20	asia	asia	PROPN
ajfa-4025	36	21	(	(	PUNCT
ajfa-4025	36	22	bailey	bailey	NOUN
ajfa-4025	36	23	and	and	CCONJ
ajfa-4025	36	24	chung	chung	PROPN
ajfa-4025	36	25	(	(	PUNCT
ajfa-4025	36	26	1996	1996	NUM
ajfa-4025	36	27	)	)	PUNCT
ajfa-4025	36	28	,	,	PUNCT
ajfa-4025	36	29	mookerjee	mookerjee	PROPN
ajfa-4025	36	30	and	and	CCONJ
ajfa-4025	36	31	yu	yu	PROPN
ajfa-4025	36	32	(	(	PUNCT
ajfa-4025	36	33	1997	1997	NUM
ajfa-4025	36	34	)	)	PUNCT
ajfa-4025	36	35	,	,	PUNCT
ajfa-4025	36	36	kwon	kwon	PROPN
ajfa-4025	36	37	and	and	CCONJ
ajfa-4025	36	38	shin	shin	PROPN
ajfa-4025	36	39	(	(	PUNCT
ajfa-4025	36	40	1999	1999	NUM
ajfa-4025	36	41	)	)	PUNCT
ajfa-4025	36	42	,	,	PUNCT
ajfa-4025	36	43	ibrahim	ibrahim	PROPN
ajfa-4025	36	44	and	and	CCONJ
ajfa-4025	36	45	aziz	aziz	PROPN
ajfa-4025	36	46	(	(	PUNCT
ajfa-4025	36	47	2003	2003	NUM
ajfa-4025	36	48	)	)	PUNCT
ajfa-4025	36	49	)	)	PUNCT
ajfa-4025	36	50	.	.	PUNCT
ajfa-4025	37	1	there	there	PRON
ajfa-4025	37	2	are	be	VERB
ajfa-4025	37	3	also	also	ADV
ajfa-4025	37	4	studies	study	NOUN
ajfa-4025	37	5	that	that	PRON
ajfa-4025	37	6	compare	compare	VERB
ajfa-4025	37	7	the	the	DET
ajfa-4025	37	8	phenomenon	phenomenon	NOUN
ajfa-4025	37	9	for	for	ADP
ajfa-4025	37	10	group	group	NOUN
ajfa-4025	37	11	of	of	ADP
ajfa-4025	37	12	countries	country	NOUN
ajfa-4025	37	13	(	(	PUNCT
ajfa-4025	37	14	cheung	cheung	PROPN
ajfa-4025	37	15	and	and	CCONJ
ajfa-4025	37	16	ng	ng	PROPN
ajfa-4025	37	17	(	(	PUNCT
ajfa-4025	37	18	1998	1998	NUM
ajfa-4025	37	19	)	)	PUNCT
ajfa-4025	37	20	,	,	PUNCT
ajfa-4025	37	21	bilson	bilson	PROPN
ajfa-4025	37	22	,	,	PUNCT
ajfa-4025	37	23	brailsford	brailsford	PROPN
ajfa-4025	37	24	and	and	CCONJ
ajfa-4025	37	25	hooper	hooper	PROPN
ajfa-4025	37	26	(	(	PUNCT
ajfa-4025	37	27	2001	2001	NUM
ajfa-4025	37	28	)	)	PUNCT
ajfa-4025	37	29	,	,	PUNCT
ajfa-4025	37	30	wongbangpo	wongbangpo	NOUN
ajfa-4025	37	31	and	and	CCONJ
ajfa-4025	37	32	sharma	sharma	PROPN
ajfa-4025	37	33	(	(	PUNCT
ajfa-4025	37	34	2002	2002	NUM
ajfa-4025	37	35	)	)	PUNCT
ajfa-4025	37	36	)	)	PUNCT
ajfa-4025	37	37	.	.	PUNCT
ajfa-4025	38	1	these	these	DET
ajfa-4025	38	2	studies	study	NOUN
ajfa-4025	38	3	have	have	AUX
ajfa-4025	38	4	provided	provide	VERB
ajfa-4025	38	5	different	different	ADJ
ajfa-4025	38	6	results	result	NOUN
ajfa-4025	38	7	.	.	PUNCT
ajfa-4025	39	1	the	the	DET
ajfa-4025	39	2	results	result	NOUN
ajfa-4025	39	3	have	have	AUX
ajfa-4025	39	4	changed	change	VERB
ajfa-4025	39	5	according	accord	VERB
ajfa-4025	39	6	to	to	ADP
ajfa-4025	39	7	the	the	DET
ajfa-4025	39	8	macroeconomic	macroeconomic	ADJ
ajfa-4025	39	9	factors	factor	NOUN
ajfa-4025	39	10	used	use	VERB
ajfa-4025	39	11	,	,	PUNCT
ajfa-4025	39	12	the	the	DET
ajfa-4025	39	13	research	research	NOUN
ajfa-4025	39	14	methodology	methodology	NOUN
ajfa-4025	39	15	employed	employ	VERB
ajfa-4025	39	16	and	and	CCONJ
ajfa-4025	39	17	the	the	DET
ajfa-4025	39	18	countries	country	NOUN
ajfa-4025	39	19	examined	examine	VERB
ajfa-4025	39	20	.	.	PUNCT
ajfa-4025	40	1	however	however	ADV
ajfa-4025	40	2	,	,	PUNCT
ajfa-4025	40	3	the	the	DET
ajfa-4025	40	4	studies	study	NOUN
ajfa-4025	40	5	were	be	AUX
ajfa-4025	40	6	mainly	mainly	ADV
ajfa-4025	40	7	focussed	focusse	VERB
ajfa-4025	40	8	on	on	ADP
ajfa-4025	40	9	one	one	NUM
ajfa-4025	40	10	time	time	NOUN
ajfa-4025	40	11	series	series	NOUN
ajfa-4025	40	12	.	.	PUNCT
ajfa-4025	41	1	there	there	PRON
ajfa-4025	41	2	is	be	VERB
ajfa-4025	41	3	not	not	PART
ajfa-4025	41	4	too	too	ADV
ajfa-4025	41	5	much	much	ADJ
ajfa-4025	41	6	work	work	NOUN
ajfa-4025	41	7	done	do	VERB
ajfa-4025	41	8	on	on	ADP
ajfa-4025	41	9	testing	test	VERB
ajfa-4025	41	10	the	the	DET
ajfa-4025	41	11	relationship	relationship	NOUN
ajfa-4025	41	12	during	during	ADP
ajfa-4025	41	13	pre	pre	NOUN
ajfa-4025	41	14	and	and	CCONJ
ajfa-4025	41	15	post	post	VERB
ajfa-4025	41	16	financial	financial	ADJ
ajfa-4025	41	17	crisis	crisis	NOUN
ajfa-4025	41	18	period	period	NOUN
ajfa-4025	41	19	.	.	PUNCT
ajfa-4025	42	1	in	in	ADP
ajfa-4025	42	2	this	this	DET
ajfa-4025	42	3	study	study	NOUN
ajfa-4025	42	4	,	,	PUNCT
ajfa-4025	42	5	the	the	DET
ajfa-4025	42	6	south	south	PROPN
ajfa-4025	42	7	east	east	PROPN
ajfa-4025	42	8	asia	asia	PROPN
ajfa-4025	42	9	(	(	PUNCT
ajfa-4025	42	10	sea	sea	NOUN
ajfa-4025	42	11	)	)	PUNCT
ajfa-4025	42	12	countries	country	NOUN
ajfa-4025	42	13	of	of	ADP
ajfa-4025	42	14	malaysia	malaysia	PROPN
ajfa-4025	42	15	,	,	PUNCT
ajfa-4025	42	16	indonesia	indonesia	PROPN
ajfa-4025	42	17	,	,	PUNCT
ajfa-4025	42	18	singapore	singapore	PROPN
ajfa-4025	42	19	and	and	CCONJ
ajfa-4025	42	20	thailand	thailand	PROPN
ajfa-4025	42	21	(	(	PUNCT
ajfa-4025	42	22	mist	mist	PROPN
ajfa-4025	42	23	)	)	PUNCT
ajfa-4025	42	24	have	have	AUX
ajfa-4025	42	25	been	be	AUX
ajfa-4025	42	26	selected	select	VERB
ajfa-4025	42	27	for	for	ADP
ajfa-4025	42	28	empirical	empirical	ADJ
ajfa-4025	42	29	study	study	NOUN
ajfa-4025	42	30	.	.	PUNCT
ajfa-4025	43	1	the	the	DET
ajfa-4025	43	2	selection	selection	NOUN
ajfa-4025	43	3	of	of	ADP
ajfa-4025	43	4	sea	sea	NOUN
ajfa-4025	43	5	as	as	ADP
ajfa-4025	43	6	the	the	DET
ajfa-4025	43	7	test	test	NOUN
ajfa-4025	43	8	target	target	NOUN
ajfa-4025	43	9	is	be	AUX
ajfa-4025	43	10	based	base	VERB
ajfa-4025	43	11	on	on	ADP
ajfa-4025	43	12	two	two	NUM
ajfa-4025	43	13	main	main	ADJ
ajfa-4025	43	14	reasons	reason	NOUN
ajfa-4025	43	15	.	.	PUNCT
ajfa-4025	44	1	first	first	ADV
ajfa-4025	44	2	,	,	PUNCT
ajfa-4025	44	3	sea	sea	NOUN
ajfa-4025	44	4	has	have	AUX
ajfa-4025	44	5	been	be	AUX
ajfa-4025	44	6	recognized	recognize	VERB
ajfa-4025	44	7	as	as	ADP
ajfa-4025	44	8	having	have	VERB
ajfa-4025	44	9	impressive	impressive	ADJ
ajfa-4025	44	10	economic	economic	ADJ
ajfa-4025	44	11	growth	growth	NOUN
ajfa-4025	44	12	and	and	CCONJ
ajfa-4025	44	13	a	a	DET
ajfa-4025	44	14	thriving	thrive	VERB
ajfa-4025	44	15	export	export	NOUN
ajfa-4025	44	16	sector	sector	NOUN
ajfa-4025	44	17	.	.	PUNCT
ajfa-4025	45	1	since	since	SCONJ
ajfa-4025	45	2	2000	2000	NUM
ajfa-4025	45	3	,	,	PUNCT
ajfa-4025	45	4	mist	mist	NOUN
ajfa-4025	45	5	countries	country	NOUN
ajfa-4025	45	6	market	market	NOUN
ajfa-4025	45	7	capitalization	capitalization	NOUN
ajfa-4025	45	8	has	have	AUX
ajfa-4025	45	9	grown	grow	VERB
ajfa-4025	45	10	from	from	ADP
ajfa-4025	45	11	usd324	usd324	PROPN
ajfa-4025	45	12	,	,	PUNCT
ajfa-4025	45	13	311	311	NUM
ajfa-4025	45	14	billion	billion	NUM
ajfa-4025	45	15	to	to	ADP
ajfa-4025	45	16	usd1	usd1	PROPN
ajfa-4025	45	17	,	,	PUNCT
ajfa-4025	45	18	694	694	NUM
ajfa-4025	45	19	trillion	trillion	NUM
ajfa-4025	45	20	,	,	PUNCT
ajfa-4025	45	21	which	which	PRON
ajfa-4025	45	22	is	be	AUX
ajfa-4025	45	23	around	around	ADV
ajfa-4025	45	24	431	431	NUM
ajfa-4025	45	25	percent	percent	NOUN
ajfa-4025	45	26	growth	growth	NOUN
ajfa-4025	45	27	in	in	ADP
ajfa-4025	45	28	market	market	NOUN
ajfa-4025	45	29	capitalization	capitalization	NOUN
ajfa-4025	45	30	in	in	ADP
ajfa-4025	45	31	comparison	comparison	NOUN
ajfa-4025	45	32	with	with	ADP
ajfa-4025	45	33	392	392	NUM
ajfa-4025	45	34	%	%	NOUN
ajfa-4025	45	35	for	for	ADP
ajfa-4025	45	36	the	the	DET
ajfa-4025	45	37	asia	asia	PROPN
ajfa-4025	45	38	region	region	PROPN
ajfa-4025	45	39	’s	’s	PART
ajfa-4025	45	40	growth	growth	NOUN
ajfa-4025	45	41	in	in	ADP
ajfa-4025	45	42	market	market	NOUN
ajfa-4025	45	43	capitalization	capitalization	NOUN
ajfa-4025	45	44	(	(	PUNCT
ajfa-4025	45	45	wfe	wfe	PROPN
ajfa-4025	45	46	,	,	PUNCT
ajfa-4025	45	47	2011	2011	NUM
ajfa-4025	45	48	)	)	PUNCT
ajfa-4025	45	49	.	.	PUNCT
ajfa-4025	46	1	second	second	ADJ
ajfa-4025	46	2	,	,	PUNCT
ajfa-4025	46	3	the	the	DET
ajfa-4025	46	4	high	high	ADJ
ajfa-4025	46	5	growth	growth	NOUN
ajfa-4025	46	6	in	in	ADP
ajfa-4025	46	7	market	market	NOUN
ajfa-4025	46	8	capitalization	capitalization	NOUN
ajfa-4025	46	9	shows	show	VERB
ajfa-4025	46	10	that	that	SCONJ
ajfa-4025	46	11	investors	investor	NOUN
ajfa-4025	46	12	express	express	VERB
ajfa-4025	46	13	interest	interest	NOUN
ajfa-4025	46	14	in	in	ADP
ajfa-4025	46	15	this	this	DET
ajfa-4025	46	16	region	region	NOUN
ajfa-4025	46	17	and	and	CCONJ
ajfa-4025	46	18	the	the	DET
ajfa-4025	46	19	great	great	ADJ
ajfa-4025	46	20	potential	potential	NOUN
ajfa-4025	46	21	of	of	ADP
ajfa-4025	46	22	the	the	DET
ajfa-4025	46	23	firms	firm	NOUN
ajfa-4025	46	24	in	in	ADP
ajfa-4025	46	25	sea	sea	NOUN
ajfa-4025	46	26	is	be	AUX
ajfa-4025	46	27	the	the	DET
ajfa-4025	46	28	main	main	ADJ
ajfa-4025	46	29	attraction	attraction	NOUN
ajfa-4025	46	30	for	for	ADP
ajfa-4025	46	31	investors	investor	NOUN
ajfa-4025	46	32	that	that	PRON
ajfa-4025	46	33	encourages	encourage	VERB
ajfa-4025	46	34	them	they	PRON
ajfa-4025	46	35	to	to	PART
ajfa-4025	46	36	invest	invest	VERB
ajfa-4025	46	37	in	in	ADP
ajfa-4025	46	38	this	this	DET
ajfa-4025	46	39	region	region	NOUN
ajfa-4025	46	40	.	.	PUNCT
ajfa-4025	47	1	this	this	DET
ajfa-4025	47	2	paper	paper	NOUN
ajfa-4025	47	3	investigates	investigate	VERB
ajfa-4025	47	4	the	the	DET
ajfa-4025	47	5	role	role	NOUN
ajfa-4025	47	6	of	of	ADP
ajfa-4025	47	7	macroeconomics	macroeconomic	NOUN
ajfa-4025	47	8	and	and	CCONJ
ajfa-4025	47	9	firm	firm	ADJ
ajfa-4025	47	10	specific	specific	ADJ
ajfa-4025	47	11	factors	factor	NOUN
ajfa-4025	47	12	in	in	ADP
ajfa-4025	47	13	explaining	explain	VERB
ajfa-4025	47	14	the	the	DET
ajfa-4025	47	15	stock	stock	NOUN
ajfa-4025	47	16	return	return	NOUN
ajfa-4025	47	17	for	for	ADP
ajfa-4025	47	18	mist	mist	NOUN
ajfa-4025	47	19	countries	country	NOUN
ajfa-4025	47	20	in	in	ADP
ajfa-4025	47	21	two	two	NUM
ajfa-4025	47	22	periods	period	NOUN
ajfa-4025	47	23	.	.	PUNCT
ajfa-4025	48	1	the	the	DET
ajfa-4025	48	2	first	first	ADJ
ajfa-4025	48	3	period	period	NOUN
ajfa-4025	48	4	is	be	AUX
ajfa-4025	48	5	before	before	ADP
ajfa-4025	48	6	the	the	DET
ajfa-4025	48	7	2007	2007	NUM
ajfa-4025	48	8	global	global	ADJ
ajfa-4025	48	9	economic	economic	ADJ
ajfa-4025	48	10	crisis	crisis	NOUN
ajfa-4025	48	11	(	(	PUNCT
ajfa-4025	48	12	from	from	ADP
ajfa-4025	48	13	july	july	PROPN
ajfa-4025	48	14	2003	2003	NUM
ajfa-4025	48	15	to	to	ADP
ajfa-4025	48	16	june	june	PROPN
ajfa-4025	48	17	2007	2007	NUM
ajfa-4025	48	18	)	)	PUNCT
ajfa-4025	48	19	and	and	CCONJ
ajfa-4025	48	20	the	the	DET
ajfa-4025	48	21	second	second	ADJ
ajfa-4025	48	22	period	period	NOUN
ajfa-4025	48	23	is	be	AUX
ajfa-4025	48	24	during	during	ADP
ajfa-4025	48	25	and	and	CCONJ
ajfa-4025	48	26	after	after	ADP
ajfa-4025	48	27	the	the	DET
ajfa-4025	48	28	global	global	ADJ
ajfa-4025	48	29	economic	economic	ADJ
ajfa-4025	48	30	crisis	crisis	NOUN
ajfa-4025	48	31	(	(	PUNCT
ajfa-4025	48	32	from	from	ADP
ajfa-4025	48	33	july	july	PROPN
ajfa-4025	48	34	2007	2007	NUM
ajfa-4025	48	35	to	to	ADP
ajfa-4025	48	36	june	june	PROPN
ajfa-4025	48	37	2011	2011	NUM
ajfa-4025	48	38	)	)	PUNCT
ajfa-4025	48	39	.	.	PUNCT
ajfa-4025	49	1	ordinary	ordinary	ADJ
ajfa-4025	49	2	least	least	ADJ
ajfa-4025	49	3	square	square	ADJ
ajfa-4025	49	4	(	(	PUNCT
ajfa-4025	49	5	ols	ol	NOUN
ajfa-4025	49	6	)	)	PUNCT
ajfa-4025	49	7	multi	multi	ADJ
ajfa-4025	49	8	-	-	ADJ
ajfa-4025	49	9	regression	regression	NOUN
ajfa-4025	49	10	models	model	NOUN
ajfa-4025	49	11	are	be	AUX
ajfa-4025	49	12	deployed	deploy	VERB
ajfa-4025	49	13	,	,	PUNCT
ajfa-4025	49	14	following	follow	VERB
ajfa-4025	49	15	the	the	DET
ajfa-4025	49	16	previous	previous	ADJ
ajfa-4025	49	17	studies	study	NOUN
ajfa-4025	49	18	by	by	ADP
ajfa-4025	49	19	barrow	barrow	NOUN
ajfa-4025	49	20	and	and	CCONJ
ajfa-4025	49	21	naka	naka	X
ajfa-4025	49	22	(	(	PUNCT
ajfa-4025	49	23	1994	1994	NUM
ajfa-4025	49	24	)	)	PUNCT
ajfa-4025	49	25	,	,	PUNCT
ajfa-4025	49	26	chen	chen	PROPN
ajfa-4025	49	27	,	,	PUNCT
ajfa-4025	49	28	kim	kim	PROPN
ajfa-4025	49	29	and	and	CCONJ
ajfa-4025	49	30	kim	kim	PROPN
ajfa-4025	49	31	(	(	PUNCT
ajfa-4025	49	32	2005	2005	NUM
ajfa-4025	49	33	)	)	PUNCT
ajfa-4025	49	34	,	,	PUNCT
ajfa-4025	49	35	chiang	chiang	PROPN
ajfa-4025	49	36	and	and	CCONJ
ajfa-4025	49	37	kee	kee	PROPN
ajfa-4025	49	38	(	(	PUNCT
ajfa-4025	49	39	2009	2009	NUM
ajfa-4025	49	40	)	)	PUNCT
ajfa-4025	49	41	.	.	PUNCT
ajfa-4025	50	1	the	the	DET
ajfa-4025	50	2	present	present	ADJ
ajfa-4025	50	3	study	study	NOUN
ajfa-4025	50	4	employs	employ	VERB
ajfa-4025	50	5	asian	asian	ADJ
ajfa-4025	50	6	journal	journal	NOUN
ajfa-4025	50	7	of	of	ADP
ajfa-4025	50	8	finance	finance	PROPN
ajfa-4025	50	9	&	&	CCONJ
ajfa-4025	50	10	accounting	accounting	PROPN
ajfa-4025	50	11	issn	issn	PROPN
ajfa-4025	50	12	1946	1946	NUM
ajfa-4025	50	13	-	-	PUNCT
ajfa-4025	50	14	052x	052x	NOUN
ajfa-4025	50	15	2013	2013	NUM
ajfa-4025	50	16	,	,	PUNCT
ajfa-4025	50	17	vol	vol	NOUN
ajfa-4025	50	18	.	.	PROPN
ajfa-4025	50	19	5	5	NUM
ajfa-4025	50	20	,	,	PUNCT
ajfa-4025	50	21	no	no	INTJ
ajfa-4025	50	22	.	.	NOUN
ajfa-4025	50	23	2	2	NUM
ajfa-4025	50	24	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	50	25	162	162	NUM
ajfa-4025	50	26	growth	growth	NOUN
ajfa-4025	50	27	rate	rate	NOUN
ajfa-4025	50	28	of	of	ADP
ajfa-4025	50	29	industrial	industrial	ADJ
ajfa-4025	50	30	production	production	NOUN
ajfa-4025	50	31	,	,	PUNCT
ajfa-4025	50	32	change	change	NOUN
ajfa-4025	50	33	in	in	ADP
ajfa-4025	50	34	consumer	consumer	NOUN
ajfa-4025	50	35	price	price	NOUN
ajfa-4025	50	36	index	index	NOUN
ajfa-4025	50	37	,	,	PUNCT
ajfa-4025	50	38	growth	growth	NOUN
ajfa-4025	50	39	rate	rate	NOUN
ajfa-4025	50	40	of	of	ADP
ajfa-4025	50	41	the	the	DET
ajfa-4025	50	42	money	money	NOUN
ajfa-4025	50	43	supply	supply	NOUN
ajfa-4025	50	44	,	,	PUNCT
ajfa-4025	50	45	change	change	NOUN
ajfa-4025	50	46	in	in	ADP
ajfa-4025	50	47	the	the	DET
ajfa-4025	50	48	exchange	exchange	NOUN
ajfa-4025	50	49	rate	rate	NOUN
ajfa-4025	50	50	,	,	PUNCT
ajfa-4025	50	51	change	change	NOUN
ajfa-4025	50	52	in	in	ADP
ajfa-4025	50	53	term	term	NOUN
ajfa-4025	50	54	structure	structure	NOUN
ajfa-4025	50	55	and	and	CCONJ
ajfa-4025	50	56	growth	growth	NOUN
ajfa-4025	50	57	rate	rate	NOUN
ajfa-4025	50	58	of	of	ADP
ajfa-4025	50	59	international	international	ADJ
ajfa-4025	50	60	crude	crude	ADJ
ajfa-4025	50	61	oil	oil	NOUN
ajfa-4025	50	62	price	price	NOUN
ajfa-4025	50	63	as	as	ADP
ajfa-4025	50	64	the	the	DET
ajfa-4025	50	65	macroeconomic	macroeconomic	ADJ
ajfa-4025	50	66	factors	factor	NOUN
ajfa-4025	50	67	for	for	ADP
ajfa-4025	50	68	the	the	DET
ajfa-4025	50	69	time	time	NOUN
ajfa-4025	50	70	period	period	NOUN
ajfa-4025	50	71	july	july	PROPN
ajfa-4025	50	72	2003	2003	NUM
ajfa-4025	50	73	to	to	ADP
ajfa-4025	50	74	june	june	PROPN
ajfa-4025	50	75	2011	2011	NUM
ajfa-4025	50	76	.	.	PUNCT
ajfa-4025	51	1	most	most	ADJ
ajfa-4025	51	2	of	of	ADP
ajfa-4025	51	3	the	the	DET
ajfa-4025	51	4	previous	previous	ADJ
ajfa-4025	51	5	studies	study	NOUN
ajfa-4025	51	6	investigate	investigate	VERB
ajfa-4025	51	7	the	the	DET
ajfa-4025	51	8	macroeconomic	macroeconomic	ADJ
ajfa-4025	51	9	factor	factor	NOUN
ajfa-4025	51	10	and	and	CCONJ
ajfa-4025	51	11	stock	stock	NOUN
ajfa-4025	51	12	return	return	NOUN
ajfa-4025	51	13	based	base	VERB
ajfa-4025	51	14	on	on	ADP
ajfa-4025	51	15	the	the	DET
ajfa-4025	51	16	main	main	ADJ
ajfa-4025	51	17	index	index	NOUN
ajfa-4025	51	18	.	.	PUNCT
ajfa-4025	52	1	however	however	ADV
ajfa-4025	52	2	,	,	PUNCT
ajfa-4025	52	3	our	our	PRON
ajfa-4025	52	4	analysis	analysis	NOUN
ajfa-4025	52	5	is	be	AUX
ajfa-4025	52	6	based	base	VERB
ajfa-4025	52	7	on	on	ADP
ajfa-4025	52	8	stock	stock	NOUN
ajfa-4025	52	9	portfolio	portfolio	NOUN
ajfa-4025	52	10	returns	return	NOUN
ajfa-4025	52	11	rather	rather	ADV
ajfa-4025	52	12	than	than	ADP
ajfa-4025	52	13	the	the	DET
ajfa-4025	52	14	stock	stock	NOUN
ajfa-4025	52	15	indices	index	NOUN
ajfa-4025	52	16	return	return	VERB
ajfa-4025	52	17	.	.	PUNCT
ajfa-4025	53	1	in	in	ADP
ajfa-4025	53	2	portfolio	portfolio	NOUN
ajfa-4025	53	3	construction	construction	NOUN
ajfa-4025	53	4	,	,	PUNCT
ajfa-4025	53	5	three	three	NUM
ajfa-4025	53	6	firm	firm	ADJ
ajfa-4025	53	7	characteristics	characteristic	NOUN
ajfa-4025	53	8	are	be	AUX
ajfa-4025	53	9	identified	identify	VERB
ajfa-4025	53	10	to	to	PART
ajfa-4025	53	11	be	be	AUX
ajfa-4025	53	12	the	the	DET
ajfa-4025	53	13	portfolio	portfolio	NOUN
ajfa-4025	53	14	criteria	criterion	NOUN
ajfa-4025	53	15	,	,	PUNCT
ajfa-4025	53	16	namely	namely	ADV
ajfa-4025	53	17	,	,	PUNCT
ajfa-4025	53	18	price	price	NOUN
ajfa-4025	53	19	-	-	PUNCT
ajfa-4025	53	20	to	to	ADP
ajfa-4025	53	21	-	-	PUNCT
ajfa-4025	53	22	earnings	earning	NOUN
ajfa-4025	53	23	ratio	ratio	NOUN
ajfa-4025	53	24	,	,	PUNCT
ajfa-4025	53	25	market	market	NOUN
ajfa-4025	53	26	equity	equity	NOUN
ajfa-4025	53	27	and	and	CCONJ
ajfa-4025	53	28	book	book	NOUN
ajfa-4025	53	29	-	-	PUNCT
ajfa-4025	53	30	to	to	ADP
ajfa-4025	53	31	-	-	PUNCT
ajfa-4025	53	32	market	market	NOUN
ajfa-4025	53	33	ratio	ratio	NOUN
ajfa-4025	53	34	.	.	PUNCT
ajfa-4025	54	1	furthermore	furthermore	ADV
ajfa-4025	54	2	,	,	PUNCT
ajfa-4025	54	3	the	the	DET
ajfa-4025	54	4	different	different	ADJ
ajfa-4025	54	5	portfolios	portfolio	NOUN
ajfa-4025	54	6	enable	enable	VERB
ajfa-4025	54	7	us	we	PRON
ajfa-4025	54	8	to	to	PART
ajfa-4025	54	9	present	present	VERB
ajfa-4025	54	10	a	a	DET
ajfa-4025	54	11	cross	cross	ADJ
ajfa-4025	54	12	-	-	ADJ
ajfa-4025	54	13	sectional	sectional	ADJ
ajfa-4025	54	14	view	view	NOUN
ajfa-4025	54	15	of	of	ADP
ajfa-4025	54	16	the	the	DET
ajfa-4025	54	17	overall	overall	ADJ
ajfa-4025	54	18	stock	stock	NOUN
ajfa-4025	54	19	market	market	NOUN
ajfa-4025	54	20	in	in	ADP
ajfa-4025	54	21	mist	mist	NOUN
ajfa-4025	54	22	.	.	PUNCT
ajfa-4025	55	1	sea	sea	NOUN
ajfa-4025	55	2	consists	consist	VERB
ajfa-4025	55	3	of	of	ADP
ajfa-4025	55	4	countries	country	NOUN
ajfa-4025	55	5	with	with	ADP
ajfa-4025	55	6	different	different	ADJ
ajfa-4025	55	7	market	market	NOUN
ajfa-4025	55	8	structures	structure	NOUN
ajfa-4025	55	9	,	,	PUNCT
ajfa-4025	55	10	for	for	ADP
ajfa-4025	55	11	example	example	NOUN
ajfa-4025	55	12	,	,	PUNCT
ajfa-4025	55	13	emerging	emerge	VERB
ajfa-4025	55	14	countries	country	NOUN
ajfa-4025	55	15	(	(	PUNCT
ajfa-4025	55	16	malaysia	malaysia	PROPN
ajfa-4025	55	17	,	,	PUNCT
ajfa-4025	55	18	thailand	thailand	PROPN
ajfa-4025	55	19	and	and	CCONJ
ajfa-4025	55	20	indonesia	indonesia	PROPN
ajfa-4025	55	21	)	)	PUNCT
ajfa-4025	55	22	and	and	CCONJ
ajfa-4025	55	23	a	a	DET
ajfa-4025	55	24	developed	develop	VERB
ajfa-4025	55	25	country	country	NOUN
ajfa-4025	55	26	(	(	PUNCT
ajfa-4025	55	27	singapore	singapore	PROPN
ajfa-4025	55	28	)	)	PUNCT
ajfa-4025	55	29	.	.	PUNCT
ajfa-4025	56	1	in	in	ADP
ajfa-4025	56	2	addition	addition	NOUN
ajfa-4025	56	3	,	,	PUNCT
ajfa-4025	56	4	the	the	DET
ajfa-4025	56	5	emerging	emerge	VERB
ajfa-4025	56	6	countries	country	NOUN
ajfa-4025	56	7	comprise	comprise	VERB
ajfa-4025	56	8	countries	country	NOUN
ajfa-4025	56	9	with	with	ADP
ajfa-4025	56	10	different	different	ADJ
ajfa-4025	56	11	demographics	demographic	NOUN
ajfa-4025	56	12	and	and	CCONJ
ajfa-4025	56	13	economic	economic	ADJ
ajfa-4025	56	14	structures	structure	NOUN
ajfa-4025	56	15	which	which	PRON
ajfa-4025	56	16	will	will	AUX
ajfa-4025	56	17	provide	provide	VERB
ajfa-4025	56	18	the	the	DET
ajfa-4025	56	19	study	study	NOUN
ajfa-4025	56	20	with	with	ADP
ajfa-4025	56	21	data	datum	NOUN
ajfa-4025	56	22	to	to	PART
ajfa-4025	56	23	analyse	analyse	VERB
ajfa-4025	56	24	the	the	DET
ajfa-4025	56	25	comparative	comparative	ADJ
ajfa-4025	56	26	effect	effect	NOUN
ajfa-4025	56	27	of	of	ADP
ajfa-4025	56	28	the	the	DET
ajfa-4025	56	29	factors	factor	NOUN
ajfa-4025	56	30	in	in	ADP
ajfa-4025	56	31	different	different	ADJ
ajfa-4025	56	32	countries	country	NOUN
ajfa-4025	56	33	and	and	CCONJ
ajfa-4025	56	34	their	their	PRON
ajfa-4025	56	35	effect	effect	NOUN
ajfa-4025	56	36	in	in	ADP
ajfa-4025	56	37	different	different	ADJ
ajfa-4025	56	38	periods	period	NOUN
ajfa-4025	56	39	of	of	ADP
ajfa-4025	56	40	time	time	NOUN
ajfa-4025	56	41	.	.	PUNCT
ajfa-4025	57	1	evidence	evidence	NOUN
ajfa-4025	57	2	showed	show	VERB
ajfa-4025	57	3	that	that	SCONJ
ajfa-4025	57	4	during	during	ADP
ajfa-4025	57	5	the	the	DET
ajfa-4025	57	6	crisis	crisis	NOUN
ajfa-4025	57	7	and	and	CCONJ
ajfa-4025	57	8	post	post	VERB
ajfa-4025	57	9	crisis	crisis	NOUN
ajfa-4025	57	10	period	period	NOUN
ajfa-4025	57	11	(	(	PUNCT
ajfa-4025	57	12	sub	sub	NOUN
ajfa-4025	57	13	-	-	NOUN
ajfa-4025	57	14	period	period	NOUN
ajfa-4025	57	15	b	b	NOUN
ajfa-4025	57	16	)	)	PUNCT
ajfa-4025	57	17	,	,	PUNCT
ajfa-4025	57	18	the	the	DET
ajfa-4025	57	19	stock	stock	NOUN
ajfa-4025	57	20	markets	market	NOUN
ajfa-4025	57	21	of	of	ADP
ajfa-4025	57	22	all	all	DET
ajfa-4025	57	23	four	four	NUM
ajfa-4025	57	24	countries	country	NOUN
ajfa-4025	57	25	are	be	AUX
ajfa-4025	57	26	more	more	ADV
ajfa-4025	57	27	reactive	reactive	ADJ
ajfa-4025	57	28	to	to	ADP
ajfa-4025	57	29	the	the	DET
ajfa-4025	57	30	change	change	NOUN
ajfa-4025	57	31	in	in	ADP
ajfa-4025	57	32	oil	oil	NOUN
ajfa-4025	57	33	price	price	NOUN
ajfa-4025	57	34	.	.	PUNCT
ajfa-4025	58	1	on	on	ADP
ajfa-4025	58	2	the	the	DET
ajfa-4025	58	3	other	other	ADJ
ajfa-4025	58	4	hand	hand	NOUN
ajfa-4025	58	5	,	,	PUNCT
ajfa-4025	58	6	the	the	DET
ajfa-4025	58	7	result	result	NOUN
ajfa-4025	58	8	of	of	ADP
ajfa-4025	58	9	thailand	thailand	PROPN
ajfa-4025	58	10	shows	show	VERB
ajfa-4025	58	11	the	the	DET
ajfa-4025	58	12	positive	positive	ADJ
ajfa-4025	58	13	correlation	correlation	NOUN
ajfa-4025	58	14	between	between	ADP
ajfa-4025	58	15	change	change	NOUN
ajfa-4025	58	16	in	in	ADP
ajfa-4025	58	17	inflation	inflation	NOUN
ajfa-4025	58	18	and	and	CCONJ
ajfa-4025	58	19	stock	stock	NOUN
ajfa-4025	58	20	return	return	NOUN
ajfa-4025	58	21	during	during	ADP
ajfa-4025	58	22	crisis	crisis	NOUN
ajfa-4025	58	23	and	and	CCONJ
ajfa-4025	58	24	post	post	VERB
ajfa-4025	58	25	crisis(sub	crisis(sub	NOUN
ajfa-4025	58	26	-	-	PUNCT
ajfa-4025	58	27	period	period	NOUN
ajfa-4025	58	28	b	b	NOUN
ajfa-4025	58	29	)	)	PUNCT
ajfa-4025	58	30	while	while	SCONJ
ajfa-4025	58	31	the	the	DET
ajfa-4025	58	32	result	result	NOUN
ajfa-4025	58	33	of	of	ADP
ajfa-4025	58	34	malaysia	malaysia	PROPN
ajfa-4025	58	35	and	and	CCONJ
ajfa-4025	58	36	indonesia	indonesia	PROPN
ajfa-4025	58	37	show	show	VERB
ajfa-4025	58	38	inflation	inflation	NOUN
ajfa-4025	58	39	is	be	AUX
ajfa-4025	58	40	negatively	negatively	ADV
ajfa-4025	58	41	correlated	correlate	VERB
ajfa-4025	58	42	to	to	ADP
ajfa-4025	58	43	stock	stock	NOUN
ajfa-4025	58	44	return	return	NOUN
ajfa-4025	58	45	before	before	ADP
ajfa-4025	58	46	the	the	DET
ajfa-4025	58	47	crisis	crisis	NOUN
ajfa-4025	58	48	period(sub	period(sub	NOUN
ajfa-4025	58	49	-	-	PUNCT
ajfa-4025	58	50	period	period	NOUN
ajfa-4025	58	51	a	a	PRON
ajfa-4025	58	52	)	)	PUNCT
ajfa-4025	58	53	.	.	PUNCT
ajfa-4025	59	1	the	the	DET
ajfa-4025	59	2	rest	rest	NOUN
ajfa-4025	59	3	of	of	ADP
ajfa-4025	59	4	the	the	DET
ajfa-4025	59	5	paper	paper	NOUN
ajfa-4025	59	6	is	be	AUX
ajfa-4025	59	7	organized	organize	VERB
ajfa-4025	59	8	as	as	SCONJ
ajfa-4025	59	9	follows	follow	VERB
ajfa-4025	59	10	.	.	PUNCT
ajfa-4025	60	1	section	section	NOUN
ajfa-4025	60	2	2	2	NUM
ajfa-4025	60	3	reviews	review	VERB
ajfa-4025	60	4	the	the	DET
ajfa-4025	60	5	related	related	ADJ
ajfa-4025	60	6	literature	literature	NOUN
ajfa-4025	60	7	.	.	PUNCT
ajfa-4025	61	1	section	section	NOUN
ajfa-4025	61	2	3	3	NUM
ajfa-4025	61	3	explains	explain	VERB
ajfa-4025	61	4	the	the	DET
ajfa-4025	61	5	data	datum	NOUN
ajfa-4025	61	6	and	and	CCONJ
ajfa-4025	61	7	the	the	DET
ajfa-4025	61	8	methodology	methodology	NOUN
ajfa-4025	61	9	while	while	SCONJ
ajfa-4025	61	10	section	section	NOUN
ajfa-4025	61	11	4	4	NUM
ajfa-4025	61	12	provides	provide	VERB
ajfa-4025	61	13	the	the	DET
ajfa-4025	61	14	empirical	empirical	ADJ
ajfa-4025	61	15	results	result	NOUN
ajfa-4025	61	16	and	and	CCONJ
ajfa-4025	61	17	finally	finally	ADV
ajfa-4025	61	18	conclusion	conclusion	NOUN
ajfa-4025	61	19	is	be	AUX
ajfa-4025	61	20	presented	present	VERB
ajfa-4025	61	21	in	in	ADP
ajfa-4025	61	22	section	section	NOUN
ajfa-4025	61	23	5	5	NUM
ajfa-4025	61	24	.	.	SYM
ajfa-4025	61	25	2	2	NUM
ajfa-4025	61	26	.	.	X
ajfa-4025	61	27	literature	literature	NOUN
ajfa-4025	61	28	review	review	PROPN
ajfa-4025	61	29	due	due	ADP
ajfa-4025	61	30	to	to	ADP
ajfa-4025	61	31	criticism	criticism	NOUN
ajfa-4025	61	32	capm	capm	PROPN
ajfa-4025	61	33	in	in	ADP
ajfa-4025	61	34	late	late	ADJ
ajfa-4025	61	35	1970s	1970	NOUN
ajfa-4025	61	36	and	and	CCONJ
ajfa-4025	61	37	subsequent	subsequent	ADJ
ajfa-4025	61	38	drawbacks	drawback	NOUN
ajfa-4025	61	39	of	of	ADP
ajfa-4025	61	40	apt	apt	ADJ
ajfa-4025	61	41	in	in	ADP
ajfa-4025	61	42	1980s	1980	NOUN
ajfa-4025	61	43	led	lead	VERB
ajfa-4025	61	44	to	to	ADP
ajfa-4025	61	45	development	development	NOUN
ajfa-4025	61	46	of	of	ADP
ajfa-4025	61	47	macroeconomic	macroeconomic	ADJ
ajfa-4025	61	48	factor	factor	NOUN
ajfa-4025	61	49	model	model	NOUN
ajfa-4025	61	50	to	to	PART
ajfa-4025	61	51	test	test	VERB
ajfa-4025	61	52	the	the	DET
ajfa-4025	61	53	stock	stock	NOUN
ajfa-4025	61	54	market	market	NOUN
ajfa-4025	61	55	performance	performance	NOUN
ajfa-4025	61	56	.	.	PUNCT
ajfa-4025	62	1	in	in	ADP
ajfa-4025	62	2	the	the	DET
ajfa-4025	62	3	macroeconomic	macroeconomic	ADJ
ajfa-4025	62	4	factor	factor	NOUN
ajfa-4025	62	5	model	model	NOUN
ajfa-4025	62	6	,	,	PUNCT
ajfa-4025	62	7	the	the	DET
ajfa-4025	62	8	factors	factor	NOUN
ajfa-4025	62	9	are	be	AUX
ajfa-4025	62	10	defined	define	VERB
ajfa-4025	62	11	based	base	VERB
ajfa-4025	62	12	on	on	ADP
ajfa-4025	62	13	economic	economic	ADJ
ajfa-4025	62	14	intuition	intuition	NOUN
ajfa-4025	62	15	and	and	CCONJ
ajfa-4025	62	16	external	external	ADJ
ajfa-4025	62	17	sources	source	NOUN
ajfa-4025	62	18	information	information	NOUN
ajfa-4025	62	19	such	such	ADJ
ajfa-4025	62	20	as	as	ADP
ajfa-4025	62	21	macroeconomic	macroeconomic	ADJ
ajfa-4025	62	22	variables	variable	NOUN
ajfa-4025	62	23	are	be	AUX
ajfa-4025	62	24	used	use	VERB
ajfa-4025	62	25	as	as	ADP
ajfa-4025	62	26	the	the	DET
ajfa-4025	62	27	factors	factor	NOUN
ajfa-4025	62	28	.	.	PUNCT
ajfa-4025	63	1	the	the	DET
ajfa-4025	63	2	estimated	estimate	VERB
ajfa-4025	63	3	factor	factor	NOUN
ajfa-4025	63	4	loadings	loading	NOUN
ajfa-4025	63	5	are	be	AUX
ajfa-4025	63	6	verified	verify	VERB
ajfa-4025	63	7	by	by	ADP
ajfa-4025	63	8	using	use	VERB
ajfa-4025	63	9	time	time	NOUN
ajfa-4025	63	10	series	series	PROPN
ajfa-4025	63	11	regression	regression	VERB
ajfa-4025	63	12	whether	whether	SCONJ
ajfa-4025	63	13	macroeconomic	macroeconomic	ADJ
ajfa-4025	63	14	variables	variable	NOUN
ajfa-4025	63	15	describe	describe	VERB
ajfa-4025	63	16	the	the	DET
ajfa-4025	63	17	cross	cross	ADJ
ajfa-4025	63	18	-	-	ADJ
ajfa-4025	63	19	sectional	sectional	ADJ
ajfa-4025	63	20	variations	variation	NOUN
ajfa-4025	63	21	in	in	ADP
ajfa-4025	63	22	estimated	estimate	VERB
ajfa-4025	63	23	expected	expect	VERB
ajfa-4025	63	24	return	return	NOUN
ajfa-4025	63	25	.	.	PUNCT
ajfa-4025	64	1	the	the	DET
ajfa-4025	64	2	apt	apt	ADJ
ajfa-4025	64	3	macroeconomic	macroeconomic	ADJ
ajfa-4025	64	4	factors	factor	NOUN
ajfa-4025	64	5	model	model	NOUN
ajfa-4025	64	6	can	can	AUX
ajfa-4025	64	7	be	be	AUX
ajfa-4025	64	8	written	write	VERB
ajfa-4025	64	9	as	as	SCONJ
ajfa-4025	64	10	follows	follow	VERB
ajfa-4025	64	11	:	:	PUNCT
ajfa-4025	64	12	equation	equation	NOUN
ajfa-4025	64	13	1	1	NUM
ajfa-4025	64	14	where	where	SCONJ
ajfa-4025	64	15	=	=	PRON
ajfa-4025	64	16	expected	expect	VERB
ajfa-4025	64	17	return	return	NOUN
ajfa-4025	64	18	of	of	ADP
ajfa-4025	64	19	the	the	DET
ajfa-4025	64	20	asset	asset	NOUN
ajfa-4025	64	21	=	=	PUNCT
ajfa-4025	64	22	constant	constant	ADJ
ajfa-4025	64	23	=	=	VERB
ajfa-4025	64	24	loading	loading	NOUN
ajfa-4025	64	25	on	on	ADP
ajfa-4025	64	26	the	the	DET
ajfa-4025	64	27	macroeconomic	macroeconomic	ADJ
ajfa-4025	64	28	variables	variable	NOUN
ajfa-4025	64	29	to	to	PART
ajfa-4025	64	30	kth	kth	VERB
ajfa-4025	64	31	number	number	NOUN
ajfa-4025	64	32	of	of	ADP
ajfa-4025	64	33	factors	factor	NOUN
ajfa-4025	64	34	=	=	SYM
ajfa-4025	64	35	risk	risk	NOUN
ajfa-4025	64	36	premium	premium	NOUN
ajfa-4025	64	37	for	for	ADP
ajfa-4025	64	38	the	the	DET
ajfa-4025	64	39	macroeconomic	macroeconomic	ADJ
ajfa-4025	64	40	variables	variable	NOUN
ajfa-4025	64	41	asian	asian	ADJ
ajfa-4025	64	42	journal	journal	NOUN
ajfa-4025	64	43	of	of	ADP
ajfa-4025	64	44	finance	finance	PROPN
ajfa-4025	64	45	&	&	CCONJ
ajfa-4025	64	46	accounting	accounting	PROPN
ajfa-4025	64	47	issn	issn	PROPN
ajfa-4025	64	48	1946	1946	NUM
ajfa-4025	64	49	-	-	PUNCT
ajfa-4025	64	50	052x	052x	NOUN
ajfa-4025	64	51	2013	2013	NUM
ajfa-4025	64	52	,	,	PUNCT
ajfa-4025	64	53	vol	vol	NOUN
ajfa-4025	64	54	.	.	PROPN
ajfa-4025	65	1	5	5	NUM
ajfa-4025	65	2	,	,	PUNCT
ajfa-4025	65	3	no	no	INTJ
ajfa-4025	65	4	.	.	NOUN
ajfa-4025	65	5	2	2	NUM
ajfa-4025	65	6	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	65	7	163	163	NUM
ajfa-4025	65	8	=	=	SYM
ajfa-4025	65	9	idiosyncratic	idiosyncratic	ADJ
ajfa-4025	65	10	error	error	NOUN
ajfa-4025	65	11	term	term	NOUN
ajfa-4025	65	12	based	base	VERB
ajfa-4025	65	13	on	on	ADP
ajfa-4025	65	14	this	this	DET
ajfa-4025	65	15	perspective	perspective	NOUN
ajfa-4025	65	16	,	,	PUNCT
ajfa-4025	65	17	chan	chan	PROPN
ajfa-4025	65	18	,	,	PUNCT
ajfa-4025	65	19	chen	chen	PROPN
ajfa-4025	65	20	and	and	CCONJ
ajfa-4025	65	21	hsieh	hsieh	PROPN
ajfa-4025	65	22	(	(	PUNCT
ajfa-4025	65	23	1985	1985	NUM
ajfa-4025	65	24	)	)	PUNCT
ajfa-4025	65	25	analysed	analyse	VERB
ajfa-4025	65	26	the	the	DET
ajfa-4025	65	27	macroeconomic	macroeconomic	ADJ
ajfa-4025	65	28	variables	variable	NOUN
ajfa-4025	65	29	together	together	ADV
ajfa-4025	65	30	with	with	ADP
ajfa-4025	65	31	the	the	DET
ajfa-4025	65	32	size	size	NOUN
ajfa-4025	65	33	effect	effect	NOUN
ajfa-4025	65	34	while	while	SCONJ
ajfa-4025	65	35	chen	chen	PROPN
ajfa-4025	65	36	,	,	PUNCT
ajfa-4025	65	37	roll	roll	NOUN
ajfa-4025	65	38	and	and	CCONJ
ajfa-4025	65	39	ross	ross	PROPN
ajfa-4025	65	40	(	(	PUNCT
ajfa-4025	65	41	1986	1986	NUM
ajfa-4025	65	42	)	)	PUNCT
ajfa-4025	65	43	attempted	attempt	VERB
ajfa-4025	65	44	to	to	PART
ajfa-4025	65	45	identify	identify	VERB
ajfa-4025	65	46	the	the	DET
ajfa-4025	65	47	significant	significant	ADJ
ajfa-4025	65	48	macroeconomic	macroeconomic	ADJ
ajfa-4025	65	49	variables	variable	NOUN
ajfa-4025	65	50	which	which	PRON
ajfa-4025	65	51	influence	influence	VERB
ajfa-4025	65	52	asset	asset	NOUN
ajfa-4025	65	53	return	return	NOUN
ajfa-4025	65	54	.	.	PUNCT
ajfa-4025	66	1	their	their	PRON
ajfa-4025	66	2	tests	test	NOUN
ajfa-4025	66	3	were	be	AUX
ajfa-4025	66	4	conducted	conduct	VERB
ajfa-4025	66	5	by	by	ADP
ajfa-4025	66	6	using	use	VERB
ajfa-4025	66	7	the	the	DET
ajfa-4025	66	8	two	two	NUM
ajfa-4025	66	9	-	-	PUNCT
ajfa-4025	66	10	step	step	NOUN
ajfa-4025	66	11	procedure	procedure	NOUN
ajfa-4025	66	12	of	of	ADP
ajfa-4025	66	13	fama	fama	NOUN
ajfa-4025	66	14	and	and	CCONJ
ajfa-4025	66	15	macbeth	macbeth	PROPN
ajfa-4025	66	16	(	(	PUNCT
ajfa-4025	66	17	1973	1973	NUM
ajfa-4025	66	18	)	)	PUNCT
ajfa-4025	66	19	,	,	PUNCT
ajfa-4025	66	20	where	where	SCONJ
ajfa-4025	66	21	the	the	DET
ajfa-4025	66	22	factor	factor	NOUN
ajfa-4025	66	23	betas	beta	NOUN
ajfa-4025	66	24	are	be	AUX
ajfa-4025	66	25	estimated	estimate	VERB
ajfa-4025	66	26	via	via	ADP
ajfa-4025	66	27	time	time	NOUN
ajfa-4025	66	28	-	-	PUNCT
ajfa-4025	66	29	series	series	NOUN
ajfa-4025	66	30	regression	regression	NOUN
ajfa-4025	66	31	of	of	ADP
ajfa-4025	66	32	asset	asset	NOUN
ajfa-4025	66	33	return	return	NOUN
ajfa-4025	66	34	relative	relative	ADJ
ajfa-4025	66	35	to	to	ADP
ajfa-4025	66	36	the	the	DET
ajfa-4025	66	37	time	time	NOUN
ajfa-4025	66	38	series	series	PROPN
ajfa-4025	66	39	factor	factor	NOUN
ajfa-4025	66	40	return	return	NOUN
ajfa-4025	66	41	.	.	PUNCT
ajfa-4025	67	1	the	the	DET
ajfa-4025	67	2	macroeconomic	macroeconomic	ADJ
ajfa-4025	67	3	factor	factor	NOUN
ajfa-4025	67	4	models	model	NOUN
ajfa-4025	67	5	in	in	ADP
ajfa-4025	67	6	both	both	DET
ajfa-4025	67	7	studies	study	NOUN
ajfa-4025	67	8	utilize	utilize	VERB
ajfa-4025	67	9	number	number	NOUN
ajfa-4025	67	10	of	of	ADP
ajfa-4025	67	11	factors	factor	NOUN
ajfa-4025	67	12	such	such	ADJ
ajfa-4025	67	13	as	as	ADP
ajfa-4025	67	14	industrial	industrial	ADJ
ajfa-4025	67	15	production	production	NOUN
ajfa-4025	67	16	,	,	PUNCT
ajfa-4025	67	17	inflation	inflation	NOUN
ajfa-4025	67	18	,	,	PUNCT
ajfa-4025	67	19	real	real	ADJ
ajfa-4025	67	20	interest	interest	NOUN
ajfa-4025	67	21	rate	rate	NOUN
ajfa-4025	67	22	,	,	PUNCT
ajfa-4025	67	23	term	term	NOUN
ajfa-4025	67	24	structure	structure	NOUN
ajfa-4025	67	25	,	,	PUNCT
ajfa-4025	67	26	oil	oil	NOUN
ajfa-4025	67	27	price	price	NOUN
ajfa-4025	67	28	and	and	CCONJ
ajfa-4025	67	29	risk	risk	NOUN
ajfa-4025	67	30	premium	premium	NOUN
ajfa-4025	67	31	.	.	PUNCT
ajfa-4025	68	1	from	from	ADP
ajfa-4025	68	2	their	their	PRON
ajfa-4025	68	3	studies	study	NOUN
ajfa-4025	68	4	,	,	PUNCT
ajfa-4025	68	5	industrial	industrial	ADJ
ajfa-4025	68	6	production	production	NOUN
ajfa-4025	68	7	,	,	PUNCT
ajfa-4025	68	8	risk	risk	NOUN
ajfa-4025	68	9	premium	premium	NOUN
ajfa-4025	68	10	and	and	CCONJ
ajfa-4025	68	11	term	term	NOUN
ajfa-4025	68	12	structure	structure	NOUN
ajfa-4025	68	13	were	be	AUX
ajfa-4025	68	14	found	find	VERB
ajfa-4025	68	15	to	to	PART
ajfa-4025	68	16	be	be	AUX
ajfa-4025	68	17	significant	significant	ADJ
ajfa-4025	68	18	factors	factor	NOUN
ajfa-4025	68	19	influencing	influence	VERB
ajfa-4025	68	20	stock	stock	NOUN
ajfa-4025	68	21	return	return	NOUN
ajfa-4025	68	22	,	,	PUNCT
ajfa-4025	68	23	while	while	SCONJ
ajfa-4025	68	24	the	the	DET
ajfa-4025	68	25	inflation	inflation	NOUN
ajfa-4025	68	26	effect	effect	NOUN
ajfa-4025	68	27	is	be	AUX
ajfa-4025	68	28	rather	rather	ADV
ajfa-4025	68	29	weak	weak	ADJ
ajfa-4025	68	30	.	.	PUNCT
ajfa-4025	69	1	following	follow	VERB
ajfa-4025	69	2	these	these	DET
ajfa-4025	69	3	initial	initial	ADJ
ajfa-4025	69	4	studies	study	NOUN
ajfa-4025	69	5	,	,	PUNCT
ajfa-4025	69	6	other	other	ADJ
ajfa-4025	69	7	researchers	researcher	NOUN
ajfa-4025	69	8	proposed	propose	VERB
ajfa-4025	69	9	various	various	ADJ
ajfa-4025	69	10	macroeconomic	macroeconomic	ADJ
ajfa-4025	69	11	variables	variable	NOUN
ajfa-4025	69	12	for	for	ADP
ajfa-4025	69	13	different	different	ADJ
ajfa-4025	69	14	countries	country	NOUN
ajfa-4025	69	15	:	:	PUNCT
ajfa-4025	69	16	japan	japan	PROPN
ajfa-4025	69	17	–	–	PUNCT
ajfa-4025	69	18	hamao	hamao	PROPN
ajfa-4025	69	19	(	(	PUNCT
ajfa-4025	69	20	1988	1988	NUM
ajfa-4025	69	21	)	)	PUNCT
ajfa-4025	69	22	,	,	PUNCT
ajfa-4025	69	23	uk	uk	PROPN
ajfa-4025	69	24	–	–	PUNCT
ajfa-4025	69	25	priestley	priestley	NOUN
ajfa-4025	69	26	(	(	PUNCT
ajfa-4025	69	27	1996	1996	NUM
ajfa-4025	69	28	)	)	PUNCT
ajfa-4025	69	29	,	,	PUNCT
ajfa-4025	69	30	singapore	singapore	PROPN
ajfa-4025	69	31	–	–	PUNCT
ajfa-4025	69	32	maysami	maysami	PROPN
ajfa-4025	69	33	et	et	PROPN
ajfa-4025	69	34	al	al	PROPN
ajfa-4025	69	35	.	.	PROPN
ajfa-4025	70	1	(	(	PUNCT
ajfa-4025	70	2	2004	2004	NUM
ajfa-4025	70	3	)	)	PUNCT
ajfa-4025	70	4	,	,	PUNCT
ajfa-4025	70	5	malaysia	malaysia	PROPN
ajfa-4025	70	6	–	–	PUNCT
ajfa-4025	70	7	ibrahim	ibrahim	PROPN
ajfa-4025	70	8	and	and	CCONJ
ajfa-4025	70	9	abdul	abdul	PROPN
ajfa-4025	70	10	rahman	rahman	PROPN
ajfa-4025	70	11	(	(	PUNCT
ajfa-4025	70	12	2003	2003	NUM
ajfa-4025	70	13	)	)	PUNCT
ajfa-4025	70	14	,	,	PUNCT
ajfa-4025	70	15	thailand	thailand	PROPN
ajfa-4025	70	16	–	–	PUNCT
ajfa-4025	70	17	tangjitprom	tangjitprom	NOUN
ajfa-4025	70	18	(	(	PUNCT
ajfa-4025	70	19	2011	2011	NUM
ajfa-4025	70	20	)	)	PUNCT
ajfa-4025	70	21	,	,	PUNCT
ajfa-4025	70	22	philippines	philippine	NOUN
ajfa-4025	70	23	–	–	PUNCT
ajfa-4025	70	24	bailey	bailey	NOUN
ajfa-4025	70	25	and	and	CCONJ
ajfa-4025	70	26	chung	chung	PROPN
ajfa-4025	70	27	(	(	PUNCT
ajfa-4025	70	28	1996	1996	NUM
ajfa-4025	70	29	)	)	PUNCT
ajfa-4025	70	30	,	,	PUNCT
ajfa-4025	70	31	and	and	CCONJ
ajfa-4025	70	32	the	the	DET
ajfa-4025	70	33	literature	literature	NOUN
ajfa-4025	70	34	in	in	ADP
ajfa-4025	70	35	this	this	DET
ajfa-4025	70	36	area	area	NOUN
ajfa-4025	70	37	continues	continue	VERB
ajfa-4025	70	38	to	to	PART
ajfa-4025	70	39	grow	grow	VERB
ajfa-4025	70	40	.	.	PUNCT
ajfa-4025	71	1	several	several	ADJ
ajfa-4025	71	2	macroeconomic	macroeconomic	ADJ
ajfa-4025	71	3	variables	variable	NOUN
ajfa-4025	71	4	were	be	AUX
ajfa-4025	71	5	used	use	VERB
ajfa-4025	71	6	in	in	ADP
ajfa-4025	71	7	past	past	ADJ
ajfa-4025	71	8	studies	study	NOUN
ajfa-4025	71	9	and	and	CCONJ
ajfa-4025	71	10	found	find	VERB
ajfa-4025	71	11	to	to	PART
ajfa-4025	71	12	have	have	VERB
ajfa-4025	71	13	significant	significant	ADJ
ajfa-4025	71	14	impact	impact	NOUN
ajfa-4025	71	15	on	on	ADP
ajfa-4025	71	16	stock	stock	NOUN
ajfa-4025	71	17	returns	return	NOUN
ajfa-4025	71	18	.	.	PUNCT
ajfa-4025	72	1	for	for	ADP
ajfa-4025	72	2	instance	instance	NOUN
ajfa-4025	72	3	,	,	PUNCT
ajfa-4025	72	4	studies	study	NOUN
ajfa-4025	72	5	by	by	ADP
ajfa-4025	72	6	mukherjee	mukherjee	PROPN
ajfa-4025	72	7	and	and	CCONJ
ajfa-4025	72	8	naka	naka	PROPN
ajfa-4025	72	9	(	(	PUNCT
ajfa-4025	72	10	1995	1995	NUM
ajfa-4025	72	11	)	)	PUNCT
ajfa-4025	72	12	for	for	ADP
ajfa-4025	72	13	japan	japan	PROPN
ajfa-4025	72	14	,	,	PUNCT
ajfa-4025	72	15	maysami	maysami	PROPN
ajfa-4025	72	16	,	,	PUNCT
ajfa-4025	72	17	howe	howe	NOUN
ajfa-4025	72	18	and	and	CCONJ
ajfa-4025	72	19	hamzah	hamzah	PROPN
ajfa-4025	72	20	(	(	PUNCT
ajfa-4025	72	21	2004	2004	NUM
ajfa-4025	72	22	)	)	PUNCT
ajfa-4025	72	23	for	for	ADP
ajfa-4025	72	24	singapore	singapore	PROPN
ajfa-4025	72	25	,	,	PUNCT
ajfa-4025	72	26	ratanapakorn	ratanapakorn	ADJ
ajfa-4025	72	27	and	and	CCONJ
ajfa-4025	72	28	sharma	sharma	PROPN
ajfa-4025	72	29	(	(	PUNCT
ajfa-4025	72	30	2007	2007	NUM
ajfa-4025	72	31	)	)	PUNCT
ajfa-4025	72	32	for	for	ADP
ajfa-4025	72	33	the	the	DET
ajfa-4025	72	34	us	us	PROPN
ajfa-4025	72	35	s&p500	s&p500	NOUN
ajfa-4025	72	36	and	and	CCONJ
ajfa-4025	72	37	humpe	humpe	PROPN
ajfa-4025	72	38	and	and	CCONJ
ajfa-4025	72	39	macmillan	macmillan	PROPN
ajfa-4025	72	40	(	(	PUNCT
ajfa-4025	72	41	2007	2007	NUM
ajfa-4025	72	42	)	)	PUNCT
ajfa-4025	72	43	for	for	ADP
ajfa-4025	72	44	us	we	PRON
ajfa-4025	72	45	and	and	CCONJ
ajfa-4025	72	46	japan	japan	PROPN
ajfa-4025	72	47	indicate	indicate	VERB
ajfa-4025	72	48	that	that	SCONJ
ajfa-4025	72	49	industrial	industrial	ADJ
ajfa-4025	72	50	production	production	NOUN
ajfa-4025	72	51	is	be	AUX
ajfa-4025	72	52	a	a	DET
ajfa-4025	72	53	significant	significant	ADJ
ajfa-4025	72	54	factor	factor	NOUN
ajfa-4025	72	55	and	and	CCONJ
ajfa-4025	72	56	is	be	AUX
ajfa-4025	72	57	positively	positively	ADV
ajfa-4025	72	58	correlated	correlate	VERB
ajfa-4025	72	59	with	with	ADP
ajfa-4025	72	60	stock	stock	NOUN
ajfa-4025	72	61	return	return	NOUN
ajfa-4025	72	62	.	.	PUNCT
ajfa-4025	73	1	for	for	ADP
ajfa-4025	73	2	exchange	exchange	NOUN
ajfa-4025	73	3	rate	rate	NOUN
ajfa-4025	73	4	impact	impact	NOUN
ajfa-4025	73	5	,	,	PUNCT
ajfa-4025	73	6	results	result	NOUN
ajfa-4025	73	7	were	be	AUX
ajfa-4025	73	8	mixed	mixed	ADJ
ajfa-4025	73	9	.	.	PUNCT
ajfa-4025	74	1	mukherjee	mukherjee	PROPN
ajfa-4025	74	2	and	and	CCONJ
ajfa-4025	74	3	naka	naka	PROPN
ajfa-4025	74	4	(	(	PUNCT
ajfa-4025	74	5	1995	1995	NUM
ajfa-4025	74	6	)	)	PUNCT
ajfa-4025	74	7	and	and	CCONJ
ajfa-4025	74	8	ratanapakorn	ratanapakorn	ADJ
ajfa-4025	74	9	and	and	CCONJ
ajfa-4025	74	10	sharma	sharma	PROPN
ajfa-4025	74	11	(	(	PUNCT
ajfa-4025	74	12	2007	2007	NUM
ajfa-4025	74	13	)	)	PUNCT
ajfa-4025	74	14	show	show	VERB
ajfa-4025	74	15	that	that	SCONJ
ajfa-4025	74	16	exchange	exchange	NOUN
ajfa-4025	74	17	rate	rate	NOUN
ajfa-4025	74	18	is	be	AUX
ajfa-4025	74	19	statistically	statistically	ADV
ajfa-4025	74	20	significant	significant	ADJ
ajfa-4025	74	21	and	and	CCONJ
ajfa-4025	74	22	positively	positively	ADV
ajfa-4025	74	23	correlated	correlate	VERB
ajfa-4025	74	24	with	with	ADP
ajfa-4025	74	25	stock	stock	NOUN
ajfa-4025	74	26	return	return	NOUN
ajfa-4025	74	27	in	in	ADP
ajfa-4025	74	28	both	both	CCONJ
ajfa-4025	74	29	japan	japan	PROPN
ajfa-4025	74	30	and	and	CCONJ
ajfa-4025	74	31	the	the	DET
ajfa-4025	74	32	us	us	PROPN
ajfa-4025	74	33	.	.	PUNCT
ajfa-4025	75	1	however	however	ADV
ajfa-4025	75	2	,	,	PUNCT
ajfa-4025	75	3	there	there	PRON
ajfa-4025	75	4	was	be	VERB
ajfa-4025	75	5	evidence	evidence	NOUN
ajfa-4025	75	6	of	of	ADP
ajfa-4025	75	7	negative	negative	ADJ
ajfa-4025	75	8	correlation	correlation	NOUN
ajfa-4025	75	9	for	for	ADP
ajfa-4025	75	10	stock	stock	NOUN
ajfa-4025	75	11	price	price	NOUN
ajfa-4025	75	12	and	and	CCONJ
ajfa-4025	75	13	exchange	exchange	NOUN
ajfa-4025	75	14	rate	rate	NOUN
ajfa-4025	75	15	in	in	ADP
ajfa-4025	75	16	the	the	DET
ajfa-4025	75	17	case	case	NOUN
ajfa-4025	75	18	of	of	ADP
ajfa-4025	75	19	indonesia	indonesia	PROPN
ajfa-4025	75	20	(	(	PUNCT
ajfa-4025	75	21	rahajeng	rahajeng	PROPN
ajfa-4025	75	22	&	&	CCONJ
ajfa-4025	75	23	akhsyim	akhsyim	PROPN
ajfa-4025	75	24	,	,	PUNCT
ajfa-4025	75	25	2010	2010	NUM
ajfa-4025	75	26	)	)	PUNCT
ajfa-4025	75	27	,	,	PUNCT
ajfa-4025	75	28	malaysia	malaysia	PROPN
ajfa-4025	75	29	(	(	PUNCT
ajfa-4025	75	30	ibrahim	ibrahim	PROPN
ajfa-4025	75	31	&	&	CCONJ
ajfa-4025	75	32	yosoff	yosoff	PROPN
ajfa-4025	75	33	,	,	PUNCT
ajfa-4025	75	34	2001	2001	NUM
ajfa-4025	75	35	)	)	PUNCT
ajfa-4025	75	36	,	,	PUNCT
ajfa-4025	75	37	taiwan	taiwan	PROPN
ajfa-4025	75	38	(	(	PUNCT
ajfa-4025	75	39	singh	singh	PROPN
ajfa-4025	75	40	,	,	PUNCT
ajfa-4025	75	41	mehta	mehta	PROPN
ajfa-4025	75	42	and	and	CCONJ
ajfa-4025	75	43	varsha	varsha	PROPN
ajfa-4025	75	44	,	,	PUNCT
ajfa-4025	75	45	2010	2010	NUM
ajfa-4025	75	46	)	)	PUNCT
ajfa-4025	75	47	and	and	CCONJ
ajfa-4025	75	48	turkey	turkey	NOUN
ajfa-4025	75	49	(	(	PUNCT
ajfa-4025	75	50	buyuksalvarci	buyuksalvarci	VERB
ajfa-4025	75	51	,	,	PUNCT
ajfa-4025	75	52	2010	2010	NUM
ajfa-4025	75	53	)	)	PUNCT
ajfa-4025	75	54	.	.	PUNCT
ajfa-4025	76	1	in	in	ADP
ajfa-4025	76	2	case	case	NOUN
ajfa-4025	76	3	of	of	ADP
ajfa-4025	76	4	money	money	NOUN
ajfa-4025	76	5	supply	supply	NOUN
ajfa-4025	76	6	,	,	PUNCT
ajfa-4025	76	7	most	most	ADJ
ajfa-4025	76	8	of	of	ADP
ajfa-4025	76	9	the	the	DET
ajfa-4025	76	10	studies	study	NOUN
ajfa-4025	76	11	show	show	VERB
ajfa-4025	76	12	that	that	SCONJ
ajfa-4025	76	13	there	there	PRON
ajfa-4025	76	14	is	be	VERB
ajfa-4025	76	15	a	a	DET
ajfa-4025	76	16	positive	positive	ADJ
ajfa-4025	76	17	correlation	correlation	NOUN
ajfa-4025	76	18	between	between	ADP
ajfa-4025	76	19	money	money	NOUN
ajfa-4025	76	20	supply	supply	NOUN
ajfa-4025	76	21	and	and	CCONJ
ajfa-4025	76	22	stock	stock	NOUN
ajfa-4025	76	23	return	return	NOUN
ajfa-4025	76	24	(	(	PUNCT
ajfa-4025	76	25	maysami	maysami	NOUN
ajfa-4025	76	26	,	,	PUNCT
ajfa-4025	76	27	howe	howe	NOUN
ajfa-4025	76	28	and	and	CCONJ
ajfa-4025	76	29	hamzah	hamzah	PROPN
ajfa-4025	76	30	,	,	PUNCT
ajfa-4025	76	31	2004	2004	NUM
ajfa-4025	76	32	;	;	PUNCT
ajfa-4025	76	33	ratanapakorn	ratanapakorn	ADJ
ajfa-4025	76	34	and	and	CCONJ
ajfa-4025	76	35	sharma	sharma	NOUN
ajfa-4025	76	36	,	,	PUNCT
ajfa-4025	76	37	2007	2007	NUM
ajfa-4025	76	38	;	;	PUNCT
ajfa-4025	76	39	mukherjee	mukherjee	NOUN
ajfa-4025	76	40	and	and	CCONJ
ajfa-4025	76	41	naka	naka	NOUN
ajfa-4025	76	42	,	,	PUNCT
ajfa-4025	76	43	1995	1995	NUM
ajfa-4025	76	44	)	)	PUNCT
ajfa-4025	76	45	.	.	PUNCT
ajfa-4025	77	1	theory	theory	NOUN
ajfa-4025	77	2	always	always	ADV
ajfa-4025	77	3	states	state	VERB
ajfa-4025	77	4	that	that	SCONJ
ajfa-4025	77	5	inflation	inflation	NOUN
ajfa-4025	77	6	negatively	negatively	ADV
ajfa-4025	77	7	related	relate	VERB
ajfa-4025	77	8	with	with	ADP
ajfa-4025	77	9	stock	stock	NOUN
ajfa-4025	77	10	price	price	NOUN
ajfa-4025	77	11	and	and	CCONJ
ajfa-4025	77	12	most	most	ADJ
ajfa-4025	77	13	of	of	ADP
ajfa-4025	77	14	the	the	DET
ajfa-4025	77	15	studies	study	NOUN
ajfa-4025	77	16	support	support	VERB
ajfa-4025	77	17	the	the	DET
ajfa-4025	77	18	theoretical	theoretical	ADJ
ajfa-4025	77	19	findings	finding	NOUN
ajfa-4025	77	20	,	,	PUNCT
ajfa-4025	77	21	for	for	ADP
ajfa-4025	77	22	instance	instance	NOUN
ajfa-4025	77	23	in	in	ADP
ajfa-4025	77	24	the	the	DET
ajfa-4025	77	25	case	case	NOUN
ajfa-4025	77	26	of	of	ADP
ajfa-4025	77	27	japan	japan	PROPN
ajfa-4025	77	28	(	(	PUNCT
ajfa-4025	77	29	mukherjee	mukherjee	PROPN
ajfa-4025	77	30	&	&	CCONJ
ajfa-4025	77	31	naka	naka	PROPN
ajfa-4025	77	32	,	,	PUNCT
ajfa-4025	77	33	1995	1995	NUM
ajfa-4025	77	34	;	;	PUNCT
ajfa-4025	77	35	humpe	humpe	PROPN
ajfa-4025	77	36	&	&	CCONJ
ajfa-4025	77	37	macmillan	macmillan	PROPN
ajfa-4025	77	38	,	,	PUNCT
ajfa-4025	77	39	2007	2007	NUM
ajfa-4025	77	40	)	)	PUNCT
ajfa-4025	77	41	,	,	PUNCT
ajfa-4025	77	42	taiwan	taiwan	PROPN
ajfa-4025	77	43	(	(	PUNCT
ajfa-4025	77	44	singh	singh	PROPN
ajfa-4025	77	45	,	,	PUNCT
ajfa-4025	77	46	mehta	mehta	PROPN
ajfa-4025	77	47	&	&	CCONJ
ajfa-4025	77	48	varsha	varsha	PROPN
ajfa-4025	77	49	,	,	PUNCT
ajfa-4025	77	50	2010	2010	NUM
ajfa-4025	77	51	)	)	PUNCT
ajfa-4025	77	52	,	,	PUNCT
ajfa-4025	77	53	and	and	CCONJ
ajfa-4025	77	54	the	the	DET
ajfa-4025	77	55	us	us	PROPN
ajfa-4025	77	56	(	(	PUNCT
ajfa-4025	77	57	humpe	humpe	PROPN
ajfa-4025	77	58	&	&	CCONJ
ajfa-4025	77	59	macmillan	macmillan	PROPN
ajfa-4025	77	60	,	,	PUNCT
ajfa-4025	77	61	2007	2007	NUM
ajfa-4025	77	62	)	)	PUNCT
ajfa-4025	77	63	.	.	PUNCT
ajfa-4025	78	1	however	however	ADV
ajfa-4025	78	2	,	,	PUNCT
ajfa-4025	78	3	the	the	DET
ajfa-4025	78	4	study	study	NOUN
ajfa-4025	78	5	by	by	ADP
ajfa-4025	78	6	maysami	maysami	PROPN
ajfa-4025	78	7	,	,	PUNCT
ajfa-4025	78	8	howe	howe	NOUN
ajfa-4025	78	9	and	and	CCONJ
ajfa-4025	78	10	hamzah	hamzah	PROPN
ajfa-4025	78	11	(	(	PUNCT
ajfa-4025	78	12	2004	2004	NUM
ajfa-4025	78	13	)	)	PUNCT
ajfa-4025	78	14	shows	show	VERB
ajfa-4025	78	15	a	a	DET
ajfa-4025	78	16	positive	positive	ADJ
ajfa-4025	78	17	relationship	relationship	NOUN
ajfa-4025	78	18	in	in	ADP
ajfa-4025	78	19	the	the	DET
ajfa-4025	78	20	case	case	NOUN
ajfa-4025	78	21	of	of	ADP
ajfa-4025	78	22	singapore	singapore	PROPN
ajfa-4025	78	23	and	and	CCONJ
ajfa-4025	78	24	the	the	DET
ajfa-4025	78	25	study	study	NOUN
ajfa-4025	78	26	by	by	ADP
ajfa-4025	78	27	chen	chen	PROPN
ajfa-4025	78	28	,	,	PUNCT
ajfa-4025	78	29	roll	roll	NOUN
ajfa-4025	78	30	and	and	CCONJ
ajfa-4025	78	31	ross	ross	PROPN
ajfa-4025	78	32	(	(	PUNCT
ajfa-4025	78	33	1986	1986	NUM
ajfa-4025	78	34	)	)	PUNCT
ajfa-4025	78	35	found	find	VERB
ajfa-4025	78	36	that	that	SCONJ
ajfa-4025	78	37	inflation	inflation	NOUN
ajfa-4025	78	38	is	be	AUX
ajfa-4025	78	39	weakly	weakly	ADV
ajfa-4025	78	40	significant	significant	ADJ
ajfa-4025	78	41	in	in	ADP
ajfa-4025	78	42	their	their	PRON
ajfa-4025	78	43	study	study	NOUN
ajfa-4025	78	44	on	on	ADP
ajfa-4025	78	45	the	the	DET
ajfa-4025	78	46	nyse	nyse	PROPN
ajfa-4025	78	47	from	from	ADP
ajfa-4025	78	48	1958	1958	NUM
ajfa-4025	78	49	to	to	ADP
ajfa-4025	78	50	1984	1984	NUM
ajfa-4025	78	51	.	.	PUNCT
ajfa-4025	79	1	term	term	NOUN
ajfa-4025	79	2	structure	structure	NOUN
ajfa-4025	79	3	,	,	PUNCT
ajfa-4025	79	4	which	which	PRON
ajfa-4025	79	5	is	be	AUX
ajfa-4025	79	6	derived	derive	VERB
ajfa-4025	79	7	from	from	ADP
ajfa-4025	79	8	difference	difference	NOUN
ajfa-4025	79	9	between	between	ADP
ajfa-4025	79	10	long	long	ADJ
ajfa-4025	79	11	-	-	PUNCT
ajfa-4025	79	12	term	term	NOUN
ajfa-4025	79	13	and	and	CCONJ
ajfa-4025	79	14	short	short	ADJ
ajfa-4025	79	15	-	-	PUNCT
ajfa-4025	79	16	term	term	NOUN
ajfa-4025	79	17	interest	interest	NOUN
ajfa-4025	79	18	rate	rate	NOUN
ajfa-4025	79	19	tend	tend	VERB
ajfa-4025	79	20	to	to	PART
ajfa-4025	79	21	be	be	AUX
ajfa-4025	79	22	negatively	negatively	ADV
ajfa-4025	79	23	correlated	correlate	VERB
ajfa-4025	79	24	with	with	ADP
ajfa-4025	79	25	stock	stock	NOUN
ajfa-4025	79	26	return	return	NOUN
ajfa-4025	79	27	.	.	PUNCT
ajfa-4025	80	1	the	the	DET
ajfa-4025	80	2	study	study	NOUN
ajfa-4025	80	3	of	of	ADP
ajfa-4025	80	4	stock	stock	NOUN
ajfa-4025	80	5	and	and	CCONJ
ajfa-4025	80	6	watson	watson	PROPN
ajfa-4025	80	7	(	(	PUNCT
ajfa-4025	80	8	1989	1989	NUM
ajfa-4025	80	9	)	)	PUNCT
ajfa-4025	80	10	,	,	PUNCT
ajfa-4025	80	11	davis	davis	PROPN
ajfa-4025	80	12	and	and	CCONJ
ajfa-4025	80	13	henry	henry	PROPN
ajfa-4025	80	14	(	(	PUNCT
ajfa-4025	80	15	1994	1994	NUM
ajfa-4025	80	16	)	)	PUNCT
ajfa-4025	80	17	and	and	CCONJ
ajfa-4025	80	18	plosser	plosser	NOUN
ajfa-4025	80	19	and	and	CCONJ
ajfa-4025	80	20	rowenhorst	rowenhorst	ADJ
ajfa-4025	80	21	(	(	PUNCT
ajfa-4025	80	22	1994	1994	NUM
ajfa-4025	80	23	)	)	PUNCT
ajfa-4025	80	24	indicates	indicate	VERB
ajfa-4025	80	25	that	that	SCONJ
ajfa-4025	80	26	term	term	NOUN
ajfa-4025	80	27	structure	structure	NOUN
ajfa-4025	80	28	is	be	AUX
ajfa-4025	80	29	more	more	ADV
ajfa-4025	80	30	superior	superior	ADJ
ajfa-4025	80	31	in	in	ADP
ajfa-4025	80	32	predicting	predict	VERB
ajfa-4025	80	33	the	the	DET
ajfa-4025	80	34	future	future	ADJ
ajfa-4025	80	35	real	real	ADJ
ajfa-4025	80	36	economic	economic	ADJ
ajfa-4025	80	37	activity	activity	NOUN
ajfa-4025	80	38	than	than	ADP
ajfa-4025	80	39	short	short	ADJ
ajfa-4025	80	40	-	-	PUNCT
ajfa-4025	80	41	term	term	NOUN
ajfa-4025	80	42	interest	interest	NOUN
ajfa-4025	80	43	rate	rate	NOUN
ajfa-4025	80	44	in	in	ADP
ajfa-4025	80	45	the	the	DET
ajfa-4025	80	46	us	us	PROPN
ajfa-4025	80	47	and	and	CCONJ
ajfa-4025	80	48	european	european	ADJ
ajfa-4025	80	49	countries	country	NOUN
ajfa-4025	80	50	.	.	PUNCT
ajfa-4025	81	1	the	the	DET
ajfa-4025	81	2	study	study	NOUN
ajfa-4025	81	3	of	of	ADP
ajfa-4025	81	4	chen	chen	PROPN
ajfa-4025	81	5	,	,	PUNCT
ajfa-4025	81	6	roll	roll	NOUN
ajfa-4025	81	7	and	and	CCONJ
ajfa-4025	81	8	ross	ross	PROPN
ajfa-4025	81	9	(	(	PUNCT
ajfa-4025	81	10	1986	1986	NUM
ajfa-4025	81	11	)	)	PUNCT
ajfa-4025	81	12	indicates	indicate	VERB
ajfa-4025	81	13	that	that	SCONJ
ajfa-4025	81	14	term	term	NOUN
ajfa-4025	81	15	structure	structure	NOUN
ajfa-4025	81	16	is	be	AUX
ajfa-4025	81	17	negatively	negatively	ADV
ajfa-4025	81	18	correlated	correlate	VERB
ajfa-4025	81	19	with	with	ADP
ajfa-4025	81	20	stock	stock	NOUN
ajfa-4025	81	21	return	return	NOUN
ajfa-4025	81	22	in	in	ADP
ajfa-4025	81	23	us	us	PROPN
ajfa-4025	81	24	stock	stock	NOUN
ajfa-4025	81	25	exchange	exchange	PROPN
ajfa-4025	81	26	.	.	PUNCT
ajfa-4025	82	1	hamao	hamao	PROPN
ajfa-4025	82	2	(	(	PUNCT
ajfa-4025	82	3	1988	1988	NUM
ajfa-4025	82	4	)	)	PUNCT
ajfa-4025	82	5	indicates	indicate	VERB
ajfa-4025	82	6	that	that	SCONJ
ajfa-4025	82	7	the	the	DET
ajfa-4025	82	8	same	same	ADJ
ajfa-4025	82	9	correlation	correlation	NOUN
ajfa-4025	82	10	in	in	ADP
ajfa-4025	82	11	japan	japan	PROPN
ajfa-4025	82	12	stock	stock	NOUN
ajfa-4025	82	13	market	market	NOUN
ajfa-4025	82	14	.	.	PUNCT
ajfa-4025	83	1	asian	asian	ADJ
ajfa-4025	83	2	journal	journal	PROPN
ajfa-4025	83	3	of	of	ADP
ajfa-4025	83	4	finance	finance	PROPN
ajfa-4025	83	5	&	&	CCONJ
ajfa-4025	83	6	accounting	accounting	PROPN
ajfa-4025	83	7	issn	issn	PROPN
ajfa-4025	83	8	1946	1946	NUM
ajfa-4025	83	9	-	-	PUNCT
ajfa-4025	83	10	052x	052x	NOUN
ajfa-4025	83	11	2013	2013	NUM
ajfa-4025	83	12	,	,	PUNCT
ajfa-4025	83	13	vol	vol	NOUN
ajfa-4025	83	14	.	.	PROPN
ajfa-4025	83	15	5	5	NUM
ajfa-4025	83	16	,	,	PUNCT
ajfa-4025	83	17	no	no	INTJ
ajfa-4025	83	18	.	.	NOUN
ajfa-4025	83	19	2	2	NUM
ajfa-4025	83	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	83	21	164	164	NUM
ajfa-4025	83	22	there	there	PRON
ajfa-4025	83	23	is	be	VERB
ajfa-4025	83	24	no	no	DET
ajfa-4025	83	25	direct	direct	ADJ
ajfa-4025	83	26	theory	theory	NOUN
ajfa-4025	83	27	to	to	PART
ajfa-4025	83	28	describe	describe	VERB
ajfa-4025	83	29	the	the	DET
ajfa-4025	83	30	effect	effect	NOUN
ajfa-4025	83	31	of	of	ADP
ajfa-4025	83	32	oil	oil	NOUN
ajfa-4025	83	33	price	price	NOUN
ajfa-4025	83	34	on	on	ADP
ajfa-4025	83	35	stock	stock	NOUN
ajfa-4025	83	36	price	price	NOUN
ajfa-4025	83	37	.	.	PUNCT
ajfa-4025	84	1	however	however	ADV
ajfa-4025	84	2	,	,	PUNCT
ajfa-4025	84	3	based	base	VERB
ajfa-4025	84	4	on	on	ADP
ajfa-4025	84	5	the	the	DET
ajfa-4025	84	6	hypothesis	hypothesis	NOUN
ajfa-4025	84	7	,	,	PUNCT
ajfa-4025	84	8	the	the	DET
ajfa-4025	84	9	oil	oil	NOUN
ajfa-4025	84	10	price	price	NOUN
ajfa-4025	84	11	is	be	AUX
ajfa-4025	84	12	a	a	DET
ajfa-4025	84	13	principal	principal	ADJ
ajfa-4025	84	14	factor	factor	NOUN
ajfa-4025	84	15	which	which	PRON
ajfa-4025	84	16	could	could	AUX
ajfa-4025	84	17	impact	impact	VERB
ajfa-4025	84	18	the	the	DET
ajfa-4025	84	19	profitability	profitability	NOUN
ajfa-4025	84	20	and	and	CCONJ
ajfa-4025	84	21	revenue	revenue	NOUN
ajfa-4025	84	22	of	of	ADP
ajfa-4025	84	23	a	a	DET
ajfa-4025	84	24	company	company	NOUN
ajfa-4025	84	25	and	and	CCONJ
ajfa-4025	84	26	subsequently	subsequently	ADV
ajfa-4025	84	27	stock	stock	NOUN
ajfa-4025	84	28	returns	return	NOUN
ajfa-4025	84	29	.	.	PUNCT
ajfa-4025	85	1	the	the	DET
ajfa-4025	85	2	study	study	NOUN
ajfa-4025	85	3	by	by	ADP
ajfa-4025	85	4	chen	chen	PROPN
ajfa-4025	85	5	,	,	PUNCT
ajfa-4025	85	6	roll	roll	NOUN
ajfa-4025	85	7	and	and	CCONJ
ajfa-4025	85	8	ross	ross	PROPN
ajfa-4025	85	9	(	(	PUNCT
ajfa-4025	85	10	1986	1986	NUM
ajfa-4025	85	11	)	)	PUNCT
ajfa-4025	85	12	found	find	VERB
ajfa-4025	85	13	no	no	DET
ajfa-4025	85	14	significant	significant	ADJ
ajfa-4025	85	15	oil	oil	NOUN
ajfa-4025	85	16	price	price	NOUN
ajfa-4025	85	17	effect	effect	NOUN
ajfa-4025	85	18	on	on	ADP
ajfa-4025	85	19	stock	stock	NOUN
ajfa-4025	85	20	return	return	NOUN
ajfa-4025	85	21	.	.	PUNCT
ajfa-4025	86	1	moreover	moreover	ADV
ajfa-4025	86	2	,	,	PUNCT
ajfa-4025	86	3	al	al	PROPN
ajfa-4025	86	4	-	-	PUNCT
ajfa-4025	86	5	fayoumi	fayoumi	PROPN
ajfa-4025	86	6	’s	’s	PART
ajfa-4025	86	7	(	(	PUNCT
ajfa-4025	86	8	2009	2009	NUM
ajfa-4025	86	9	)	)	PUNCT
ajfa-4025	86	10	study	study	NOUN
ajfa-4025	86	11	on	on	ADP
ajfa-4025	86	12	the	the	DET
ajfa-4025	86	13	oil	oil	NOUN
ajfa-4025	86	14	-	-	PUNCT
ajfa-4025	86	15	importing	import	VERB
ajfa-4025	86	16	countries	country	NOUN
ajfa-4025	86	17	found	find	VERB
ajfa-4025	86	18	no	no	DET
ajfa-4025	86	19	significant	significant	ADJ
ajfa-4025	86	20	relationship	relationship	NOUN
ajfa-4025	86	21	between	between	ADP
ajfa-4025	86	22	oil	oil	NOUN
ajfa-4025	86	23	price	price	NOUN
ajfa-4025	86	24	and	and	CCONJ
ajfa-4025	86	25	stock	stock	NOUN
ajfa-4025	86	26	return	return	NOUN
ajfa-4025	86	27	.	.	PUNCT
ajfa-4025	87	1	however	however	ADV
ajfa-4025	87	2	,	,	PUNCT
ajfa-4025	87	3	the	the	DET
ajfa-4025	87	4	study	study	NOUN
ajfa-4025	87	5	by	by	ADP
ajfa-4025	87	6	narayan	narayan	NOUN
ajfa-4025	87	7	and	and	CCONJ
ajfa-4025	87	8	sharma	sharma	PROPN
ajfa-4025	87	9	(	(	PUNCT
ajfa-4025	87	10	2011	2011	NUM
ajfa-4025	87	11	)	)	PUNCT
ajfa-4025	87	12	shows	show	VERB
ajfa-4025	87	13	that	that	SCONJ
ajfa-4025	87	14	there	there	PRON
ajfa-4025	87	15	are	be	VERB
ajfa-4025	87	16	certain	certain	ADJ
ajfa-4025	87	17	effects	effect	NOUN
ajfa-4025	87	18	of	of	ADP
ajfa-4025	87	19	the	the	DET
ajfa-4025	87	20	oil	oil	NOUN
ajfa-4025	87	21	price	price	NOUN
ajfa-4025	87	22	on	on	ADP
ajfa-4025	87	23	firm	firm	ADJ
ajfa-4025	87	24	return	return	NOUN
ajfa-4025	87	25	and	and	CCONJ
ajfa-4025	87	26	the	the	DET
ajfa-4025	87	27	stronger	strong	ADJ
ajfa-4025	87	28	evidence	evidence	NOUN
ajfa-4025	87	29	can	can	AUX
ajfa-4025	87	30	be	be	AUX
ajfa-4025	87	31	found	find	VERB
ajfa-4025	87	32	based	base	VERB
ajfa-4025	87	33	on	on	ADP
ajfa-4025	87	34	different	different	ADJ
ajfa-4025	87	35	firm	firm	ADJ
ajfa-4025	87	36	size	size	NOUN
ajfa-4025	87	37	.	.	PUNCT
ajfa-4025	88	1	on	on	ADP
ajfa-4025	88	2	the	the	DET
ajfa-4025	88	3	other	other	ADJ
ajfa-4025	88	4	hand	hand	NOUN
ajfa-4025	88	5	,	,	PUNCT
ajfa-4025	88	6	the	the	DET
ajfa-4025	88	7	study	study	NOUN
ajfa-4025	88	8	by	by	ADP
ajfa-4025	88	9	le	le	NOUN
ajfa-4025	88	10	and	and	CCONJ
ajfa-4025	88	11	chang	chang	PROPN
ajfa-4025	88	12	(	(	PUNCT
ajfa-4025	88	13	2011	2011	NUM
ajfa-4025	88	14	)	)	PUNCT
ajfa-4025	88	15	shows	show	VERB
ajfa-4025	88	16	that	that	SCONJ
ajfa-4025	88	17	for	for	ADP
ajfa-4025	88	18	the	the	DET
ajfa-4025	88	19	period	period	NOUN
ajfa-4025	88	20	from	from	ADP
ajfa-4025	88	21	1986	1986	NUM
ajfa-4025	88	22	to	to	ADP
ajfa-4025	88	23	2011	2011	NUM
ajfa-4025	88	24	the	the	DET
ajfa-4025	88	25	stock	stock	NOUN
ajfa-4025	88	26	market	market	NOUN
ajfa-4025	88	27	responds	respond	VERB
ajfa-4025	88	28	positively	positively	ADV
ajfa-4025	88	29	in	in	ADP
ajfa-4025	88	30	japan	japan	PROPN
ajfa-4025	88	31	and	and	CCONJ
ajfa-4025	88	32	negatively	negatively	ADV
ajfa-4025	88	33	in	in	ADP
ajfa-4025	88	34	malaysia	malaysia	PROPN
ajfa-4025	88	35	and	and	CCONJ
ajfa-4025	88	36	an	an	DET
ajfa-4025	88	37	inefficient	inefficient	ADJ
ajfa-4025	88	38	stock	stock	NOUN
ajfa-4025	88	39	market	market	NOUN
ajfa-4025	88	40	responds	respond	VERB
ajfa-4025	88	41	slower	slow	ADJ
ajfa-4025	88	42	to	to	ADP
ajfa-4025	88	43	the	the	DET
ajfa-4025	88	44	shock	shock	NOUN
ajfa-4025	88	45	of	of	ADP
ajfa-4025	88	46	oil	oil	NOUN
ajfa-4025	88	47	price	price	NOUN
ajfa-4025	88	48	.	.	PUNCT
ajfa-4025	89	1	in	in	ADP
ajfa-4025	89	2	another	another	DET
ajfa-4025	89	3	extension	extension	NOUN
ajfa-4025	89	4	of	of	ADP
ajfa-4025	89	5	factor	factor	NOUN
ajfa-4025	89	6	model	model	NOUN
ajfa-4025	89	7	,	,	PUNCT
ajfa-4025	89	8	fama	fama	PROPN
ajfa-4025	89	9	and	and	CCONJ
ajfa-4025	89	10	french	french	ADJ
ajfa-4025	89	11	(	(	PUNCT
ajfa-4025	89	12	1992	1992	NUM
ajfa-4025	89	13	,	,	PUNCT
ajfa-4025	89	14	1993	1993	NUM
ajfa-4025	89	15	,	,	PUNCT
ajfa-4025	89	16	1996	1996	NUM
ajfa-4025	89	17	)	)	PUNCT
ajfa-4025	89	18	designed	design	VERB
ajfa-4025	89	19	a	a	DET
ajfa-4025	89	20	two	two	NUM
ajfa-4025	89	21	-	-	PUNCT
ajfa-4025	89	22	stage	stage	NOUN
ajfa-4025	89	23	method	method	NOUN
ajfa-4025	89	24	to	to	PART
ajfa-4025	89	25	estimate	estimate	VERB
ajfa-4025	89	26	the	the	DET
ajfa-4025	89	27	characteristic	characteristic	NOUN
ajfa-4025	89	28	-	-	PUNCT
ajfa-4025	89	29	based	base	VERB
ajfa-4025	89	30	factor	factor	NOUN
ajfa-4025	89	31	model	model	NOUN
ajfa-4025	89	32	.	.	PUNCT
ajfa-4025	90	1	in	in	ADP
ajfa-4025	90	2	the	the	DET
ajfa-4025	90	3	first	first	ADJ
ajfa-4025	90	4	stage	stage	NOUN
ajfa-4025	90	5	,	,	PUNCT
ajfa-4025	90	6	the	the	DET
ajfa-4025	90	7	returns	return	NOUN
ajfa-4025	90	8	of	of	ADP
ajfa-4025	90	9	assets	asset	NOUN
ajfa-4025	90	10	are	be	AUX
ajfa-4025	90	11	sorted	sort	VERB
ajfa-4025	90	12	according	accord	VERB
ajfa-4025	90	13	to	to	ADP
ajfa-4025	90	14	the	the	DET
ajfa-4025	90	15	portfolio	portfolio	NOUN
ajfa-4025	90	16	based	base	VERB
ajfa-4025	90	17	on	on	ADP
ajfa-4025	90	18	the	the	DET
ajfa-4025	90	19	firm	firm	ADJ
ajfa-4025	90	20	characteristic	characteristic	NOUN
ajfa-4025	90	21	,	,	PUNCT
ajfa-4025	90	22	such	such	ADJ
ajfa-4025	90	23	as	as	ADP
ajfa-4025	90	24	book	book	NOUN
ajfa-4025	90	25	-	-	PUNCT
ajfa-4025	90	26	to	to	ADP
ajfa-4025	90	27	-	-	PUNCT
ajfa-4025	90	28	market	market	NOUN
ajfa-4025	90	29	and	and	CCONJ
ajfa-4025	90	30	market	market	NOUN
ajfa-4025	90	31	capitalization	capitalization	NOUN
ajfa-4025	90	32	.	.	PUNCT
ajfa-4025	91	1	in	in	ADP
ajfa-4025	91	2	the	the	DET
ajfa-4025	91	3	second	second	ADJ
ajfa-4025	91	4	stage	stage	NOUN
ajfa-4025	91	5	,	,	PUNCT
ajfa-4025	91	6	the	the	DET
ajfa-4025	91	7	factor	factor	NOUN
ajfa-4025	91	8	betas	beta	NOUN
ajfa-4025	91	9	of	of	ADP
ajfa-4025	91	10	the	the	DET
ajfa-4025	91	11	portfolio	portfolio	NOUN
ajfa-4025	91	12	are	be	AUX
ajfa-4025	91	13	estimated	estimate	VERB
ajfa-4025	91	14	by	by	ADP
ajfa-4025	91	15	time	time	NOUN
ajfa-4025	91	16	series	series	PROPN
ajfa-4025	91	17	regression	regression	NOUN
ajfa-4025	91	18	of	of	ADP
ajfa-4025	91	19	the	the	DET
ajfa-4025	91	20	asset	asset	NOUN
ajfa-4025	91	21	return	return	NOUN
ajfa-4025	91	22	.	.	PUNCT
ajfa-4025	92	1	the	the	DET
ajfa-4025	92	2	fama	fama	NOUN
ajfa-4025	92	3	and	and	CCONJ
ajfa-4025	92	4	french	french	ADJ
ajfa-4025	92	5	three	three	NUM
ajfa-4025	92	6	-	-	PUNCT
ajfa-4025	92	7	factor	factor	NOUN
ajfa-4025	92	8	model	model	NOUN
ajfa-4025	92	9	has	have	AUX
ajfa-4025	92	10	gained	gain	VERB
ajfa-4025	92	11	support	support	NOUN
ajfa-4025	92	12	from	from	ADP
ajfa-4025	92	13	a	a	DET
ajfa-4025	92	14	number	number	NOUN
ajfa-4025	92	15	of	of	ADP
ajfa-4025	92	16	empirical	empirical	ADJ
ajfa-4025	92	17	studies	study	NOUN
ajfa-4025	92	18	.	.	PUNCT
ajfa-4025	93	1	for	for	ADP
ajfa-4025	93	2	instance	instance	NOUN
ajfa-4025	93	3	,	,	PUNCT
ajfa-4025	93	4	maroney	maroney	PROPN
ajfa-4025	93	5	and	and	CCONJ
ajfa-4025	93	6	protopapadakis	protopapadakis	PROPN
ajfa-4025	93	7	(	(	PUNCT
ajfa-4025	93	8	2002	2002	NUM
ajfa-4025	93	9	)	)	PUNCT
ajfa-4025	93	10	,	,	PUNCT
ajfa-4025	93	11	faff	faff	PROPN
ajfa-4025	93	12	(	(	PUNCT
ajfa-4025	93	13	2001	2001	NUM
ajfa-4025	93	14	)	)	PUNCT
ajfa-4025	93	15	,	,	PUNCT
ajfa-4025	93	16	drew	draw	VERB
ajfa-4025	93	17	and	and	CCONJ
ajfa-4025	93	18	veeraraghavan	veeraraghavan	NOUN
ajfa-4025	93	19	(	(	PUNCT
ajfa-4025	93	20	2002	2002	NUM
ajfa-4025	93	21	,	,	PUNCT
ajfa-4025	93	22	2003a	2003a	NUM
ajfa-4025	93	23	,	,	PUNCT
ajfa-4025	93	24	2003b	2003b	NUM
ajfa-4025	93	25	)	)	PUNCT
ajfa-4025	93	26	and	and	CCONJ
ajfa-4025	93	27	gaunt	gaunt	ADJ
ajfa-4025	93	28	(	(	PUNCT
ajfa-4025	93	29	2004	2004	NUM
ajfa-4025	93	30	)	)	PUNCT
ajfa-4025	93	31	show	show	VERB
ajfa-4025	93	32	the	the	DET
ajfa-4025	93	33	strong	strong	ADJ
ajfa-4025	93	34	relationship	relationship	NOUN
ajfa-4025	93	35	between	between	ADP
ajfa-4025	93	36	stock	stock	NOUN
ajfa-4025	93	37	return	return	NOUN
ajfa-4025	93	38	and	and	CCONJ
ajfa-4025	93	39	book	book	NOUN
ajfa-4025	93	40	-	-	PUNCT
ajfa-4025	93	41	to	to	ADP
ajfa-4025	93	42	-	-	PUNCT
ajfa-4025	93	43	market	market	NOUN
ajfa-4025	93	44	equity	equity	NOUN
ajfa-4025	93	45	and	and	CCONJ
ajfa-4025	93	46	size	size	NOUN
ajfa-4025	93	47	in	in	ADP
ajfa-4025	93	48	countries	country	NOUN
ajfa-4025	93	49	with	with	ADP
ajfa-4025	93	50	different	different	ADJ
ajfa-4025	93	51	market	market	NOUN
ajfa-4025	93	52	structures	structure	NOUN
ajfa-4025	93	53	such	such	ADJ
ajfa-4025	93	54	as	as	ADP
ajfa-4025	93	55	australia	australia	PROPN
ajfa-4025	93	56	,	,	PUNCT
ajfa-4025	93	57	canada	canada	PROPN
ajfa-4025	93	58	,	,	PUNCT
ajfa-4025	93	59	germany	germany	PROPN
ajfa-4025	93	60	,	,	PUNCT
ajfa-4025	93	61	france	france	PROPN
ajfa-4025	93	62	,	,	PUNCT
ajfa-4025	93	63	japan	japan	PROPN
ajfa-4025	93	64	,	,	PUNCT
ajfa-4025	93	65	the	the	DET
ajfa-4025	93	66	uk	uk	PROPN
ajfa-4025	93	67	,	,	PUNCT
ajfa-4025	93	68	the	the	DET
ajfa-4025	93	69	us	us	PROPN
ajfa-4025	93	70	,	,	PUNCT
ajfa-4025	93	71	malaysia	malaysia	PROPN
ajfa-4025	93	72	,	,	PUNCT
ajfa-4025	93	73	china	china	PROPN
ajfa-4025	93	74	,	,	PUNCT
ajfa-4025	93	75	hong	hong	PROPN
ajfa-4025	93	76	kong	kong	PROPN
ajfa-4025	93	77	and	and	CCONJ
ajfa-4025	93	78	the	the	DET
ajfa-4025	93	79	philippines	philippine	NOUN
ajfa-4025	93	80	.	.	PUNCT
ajfa-4025	94	1	the	the	DET
ajfa-4025	94	2	objective	objective	NOUN
ajfa-4025	94	3	of	of	ADP
ajfa-4025	94	4	sorting	sort	VERB
ajfa-4025	94	5	the	the	DET
ajfa-4025	94	6	portfolio	portfolio	NOUN
ajfa-4025	94	7	return	return	NOUN
ajfa-4025	94	8	based	base	VERB
ajfa-4025	94	9	on	on	ADP
ajfa-4025	94	10	firm	firm	ADJ
ajfa-4025	94	11	characteristics	characteristic	NOUN
ajfa-4025	94	12	such	such	ADJ
ajfa-4025	94	13	as	as	ADP
ajfa-4025	94	14	price	price	NOUN
ajfa-4025	94	15	-	-	PUNCT
ajfa-4025	94	16	to	to	AUX
ajfa-4025	94	17	-	-	PUNCT
ajfa-4025	94	18	earning	earn	VERB
ajfa-4025	94	19	(	(	PUNCT
ajfa-4025	94	20	pe	pe	NOUN
ajfa-4025	94	21	)	)	PUNCT
ajfa-4025	94	22	ratio	ratio	NOUN
ajfa-4025	94	23	,	,	PUNCT
ajfa-4025	94	24	book	book	NOUN
ajfa-4025	94	25	-	-	PUNCT
ajfa-4025	94	26	to	to	ADP
ajfa-4025	94	27	-	-	PUNCT
ajfa-4025	94	28	market	market	NOUN
ajfa-4025	94	29	(	(	PUNCT
ajfa-4025	94	30	bm	bm	PROPN
ajfa-4025	94	31	)	)	PUNCT
ajfa-4025	94	32	ratio	ratio	NOUN
ajfa-4025	94	33	and	and	CCONJ
ajfa-4025	94	34	market	market	NOUN
ajfa-4025	94	35	equity	equity	NOUN
ajfa-4025	94	36	(	(	PUNCT
ajfa-4025	94	37	me	i	PRON
ajfa-4025	94	38	)	)	PUNCT
ajfa-4025	94	39	is	be	AUX
ajfa-4025	94	40	to	to	PART
ajfa-4025	94	41	further	far	ADV
ajfa-4025	94	42	evaluate	evaluate	VERB
ajfa-4025	94	43	the	the	DET
ajfa-4025	94	44	impact	impact	NOUN
ajfa-4025	94	45	of	of	ADP
ajfa-4025	94	46	firm	firm	ADJ
ajfa-4025	94	47	-	-	PUNCT
ajfa-4025	94	48	specific	specific	ADJ
ajfa-4025	94	49	factors	factor	NOUN
ajfa-4025	94	50	on	on	ADP
ajfa-4025	94	51	stock	stock	NOUN
ajfa-4025	94	52	return	return	NOUN
ajfa-4025	94	53	as	as	ADV
ajfa-4025	94	54	well	well	ADV
ajfa-4025	94	55	as	as	ADP
ajfa-4025	94	56	the	the	DET
ajfa-4025	94	57	interaction	interaction	NOUN
ajfa-4025	94	58	between	between	ADP
ajfa-4025	94	59	different	different	ADJ
ajfa-4025	94	60	firm	firm	ADJ
ajfa-4025	94	61	-	-	PUNCT
ajfa-4025	94	62	specific	specific	ADJ
ajfa-4025	94	63	factors	factor	NOUN
ajfa-4025	94	64	and	and	CCONJ
ajfa-4025	94	65	macroeconomic	macroeconomic	ADJ
ajfa-4025	94	66	factors	factor	NOUN
ajfa-4025	94	67	.	.	PUNCT
ajfa-4025	95	1	as	as	SCONJ
ajfa-4025	95	2	shown	show	VERB
ajfa-4025	95	3	in	in	ADP
ajfa-4025	95	4	table	table	NOUN
ajfa-4025	95	5	1	1	NUM
ajfa-4025	95	6	,	,	PUNCT
ajfa-4025	95	7	there	there	PRON
ajfa-4025	95	8	are	be	VERB
ajfa-4025	95	9	evidence	evidence	NOUN
ajfa-4025	95	10	of	of	ADP
ajfa-4025	95	11	relationship	relationship	NOUN
ajfa-4025	95	12	between	between	ADP
ajfa-4025	95	13	the	the	DET
ajfa-4025	95	14	firm	firm	ADJ
ajfa-4025	95	15	-	-	PUNCT
ajfa-4025	95	16	specific	specific	ADJ
ajfa-4025	95	17	factor	factor	NOUN
ajfa-4025	95	18	and	and	CCONJ
ajfa-4025	95	19	stock	stock	NOUN
ajfa-4025	95	20	return	return	NOUN
ajfa-4025	95	21	.	.	PUNCT
ajfa-4025	96	1	in	in	ADP
ajfa-4025	96	2	general	general	ADJ
ajfa-4025	96	3	,	,	PUNCT
ajfa-4025	96	4	the	the	DET
ajfa-4025	96	5	small	small	ADJ
ajfa-4025	96	6	size	size	NOUN
ajfa-4025	96	7	portfolio	portfolio	NOUN
ajfa-4025	96	8	(	(	PUNCT
ajfa-4025	96	9	low	low	VERB
ajfa-4025	96	10	me	i	PRON
ajfa-4025	96	11	)	)	PUNCT
ajfa-4025	96	12	outperform	outperform	VERB
ajfa-4025	96	13	large	large	ADJ
ajfa-4025	96	14	size	size	NOUN
ajfa-4025	96	15	portfolio	portfolio	NOUN
ajfa-4025	96	16	(	(	PUNCT
ajfa-4025	96	17	high	high	ADJ
ajfa-4025	96	18	me	i	PRON
ajfa-4025	96	19	)	)	PUNCT
ajfa-4025	96	20	in	in	ADP
ajfa-4025	96	21	term	term	NOUN
ajfa-4025	96	22	of	of	ADP
ajfa-4025	96	23	stock	stock	NOUN
ajfa-4025	96	24	return	return	NOUN
ajfa-4025	96	25	;	;	PUNCT
ajfa-4025	96	26	high	high	PROPN
ajfa-4025	96	27	bm	bm	PROPN
ajfa-4025	96	28	portfolio	portfolio	PROPN
ajfa-4025	96	29	outperform	outperform	VERB
ajfa-4025	96	30	low	low	PROPN
ajfa-4025	96	31	bm	bm	PROPN
ajfa-4025	96	32	portfolio	portfolio	PROPN
ajfa-4025	96	33	in	in	ADP
ajfa-4025	96	34	term	term	NOUN
ajfa-4025	96	35	of	of	ADP
ajfa-4025	96	36	stock	stock	NOUN
ajfa-4025	96	37	return	return	NOUN
ajfa-4025	96	38	;	;	PUNCT
ajfa-4025	96	39	low	low	ADJ
ajfa-4025	96	40	pe	pe	PROPN
ajfa-4025	96	41	portfolio	portfolio	NOUN
ajfa-4025	96	42	outperform	outperform	VERB
ajfa-4025	96	43	high	high	PROPN
ajfa-4025	96	44	pe	pe	PROPN
ajfa-4025	96	45	portfolio	portfolio	NOUN
ajfa-4025	96	46	in	in	ADP
ajfa-4025	96	47	term	term	NOUN
ajfa-4025	96	48	of	of	ADP
ajfa-4025	96	49	stock	stock	NOUN
ajfa-4025	96	50	return	return	NOUN
ajfa-4025	96	51	.	.	PUNCT
ajfa-4025	97	1	asian	asian	ADJ
ajfa-4025	97	2	journal	journal	PROPN
ajfa-4025	97	3	of	of	ADP
ajfa-4025	97	4	finance	finance	PROPN
ajfa-4025	97	5	&	&	CCONJ
ajfa-4025	97	6	accounting	accounting	PROPN
ajfa-4025	97	7	issn	issn	PROPN
ajfa-4025	97	8	1946	1946	NUM
ajfa-4025	97	9	-	-	PUNCT
ajfa-4025	97	10	052x	052x	NOUN
ajfa-4025	97	11	2013	2013	NUM
ajfa-4025	97	12	,	,	PUNCT
ajfa-4025	97	13	vol	vol	NOUN
ajfa-4025	97	14	.	.	PROPN
ajfa-4025	97	15	5	5	NUM
ajfa-4025	97	16	,	,	PUNCT
ajfa-4025	97	17	no	no	INTJ
ajfa-4025	97	18	.	.	NOUN
ajfa-4025	97	19	2	2	NUM
ajfa-4025	97	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	97	21	165	165	NUM
ajfa-4025	97	22	table	table	NOUN
ajfa-4025	97	23	1	1	NUM
ajfa-4025	97	24	.	.	PUNCT
ajfa-4025	97	25	previous	previous	ADJ
ajfa-4025	97	26	findings	finding	NOUN
ajfa-4025	97	27	of	of	ADP
ajfa-4025	97	28	the	the	DET
ajfa-4025	97	29	relationship	relationship	NOUN
ajfa-4025	97	30	between	between	ADP
ajfa-4025	97	31	firm	firm	ADJ
ajfa-4025	97	32	-	-	PUNCT
ajfa-4025	97	33	specific	specific	ADJ
ajfa-4025	97	34	factor	factor	NOUN
ajfa-4025	97	35	and	and	CCONJ
ajfa-4025	97	36	stock	stock	NOUN
ajfa-4025	97	37	return	return	NOUN
ajfa-4025	97	38	firm	firm	ADJ
ajfa-4025	97	39	specific	specific	ADJ
ajfa-4025	97	40	factor	factor	NOUN
ajfa-4025	97	41	previous	previous	ADJ
ajfa-4025	97	42	literature	literature	NOUN
ajfa-4025	97	43	observation	observation	NOUN
ajfa-4025	97	44	price	price	NOUN
ajfa-4025	97	45	-	-	PUNCT
ajfa-4025	97	46	to	to	ADP
ajfa-4025	97	47	-	-	PUNCT
ajfa-4025	97	48	earning(pe	earning(pe	NOUN
ajfa-4025	97	49	)	)	PUNCT
ajfa-4025	97	50	ratio	ratio	NOUN
ajfa-4025	97	51	basu	basu	PROPN
ajfa-4025	97	52	(	(	PUNCT
ajfa-4025	97	53	1977	1977	NUM
ajfa-4025	97	54	)	)	PUNCT
ajfa-4025	97	55	low	low	ADJ
ajfa-4025	97	56	pe	pe	PROPN
ajfa-4025	97	57	portfolio	portfolio	NOUN
ajfa-4025	97	58	outperform	outperform	VERB
ajfa-4025	97	59	high	high	PROPN
ajfa-4025	97	60	pe	pe	PROPN
ajfa-4025	97	61	portfolio	portfolio	NOUN
ajfa-4025	97	62	ball	ball	PROPN
ajfa-4025	97	63	(	(	PUNCT
ajfa-4025	97	64	1978	1978	NUM
ajfa-4025	97	65	)	)	PUNCT
ajfa-4025	97	66	low	low	ADJ
ajfa-4025	97	67	pe	pe	PROPN
ajfa-4025	97	68	portfolio	portfolio	NOUN
ajfa-4025	97	69	is	be	AUX
ajfa-4025	97	70	associated	associate	VERB
ajfa-4025	97	71	to	to	ADP
ajfa-4025	97	72	higher	high	ADJ
ajfa-4025	97	73	risks	risk	NOUN
ajfa-4025	97	74	and	and	CCONJ
ajfa-4025	97	75	expected	expect	VERB
ajfa-4025	97	76	return	return	NOUN
ajfa-4025	97	77	.	.	PUNCT
ajfa-4025	98	1	basu	basu	PROPN
ajfa-4025	98	2	(	(	PUNCT
ajfa-4025	98	3	1983	1983	NUM
ajfa-4025	98	4	)	)	PUNCT
ajfa-4025	98	5	low	low	PROPN
ajfa-4025	98	6	pe	pe	PROPN
ajfa-4025	98	7	portfolio	portfolio	NOUN
ajfa-4025	98	8	has	have	VERB
ajfa-4025	98	9	higher	high	ADJ
ajfa-4025	98	10	risk	risk	NOUN
ajfa-4025	98	11	adjusted	adjust	VERB
ajfa-4025	98	12	return	return	NOUN
ajfa-4025	98	13	even	even	ADV
ajfa-4025	98	14	.	.	PUNCT
ajfa-4025	99	1	truong	truong	PROPN
ajfa-4025	99	2	(	(	PUNCT
ajfa-4025	99	3	2009	2009	NUM
ajfa-4025	99	4	)	)	PUNCT
ajfa-4025	99	5	low	low	ADJ
ajfa-4025	99	6	pe	pe	PROPN
ajfa-4025	99	7	portfolio	portfolio	NOUN
ajfa-4025	99	8	outperform	outperform	VERB
ajfa-4025	99	9	high	high	PROPN
ajfa-4025	99	10	pe	pe	PROPN
ajfa-4025	99	11	portfolio	portfolio	NOUN
ajfa-4025	99	12	in	in	ADP
ajfa-4025	99	13	new	new	PROPN
ajfa-4025	99	14	zealand	zealand	PROPN
ajfa-4025	99	15	book	book	PROPN
ajfa-4025	99	16	-	-	PUNCT
ajfa-4025	99	17	to	to	ADP
ajfa-4025	99	18	-	-	PUNCT
ajfa-4025	99	19	market(bm	market(bm	NOUN
ajfa-4025	99	20	)	)	PUNCT
ajfa-4025	99	21	ratio	ratio	NOUN
ajfa-4025	99	22	stattman	stattman	NOUN
ajfa-4025	99	23	(	(	PUNCT
ajfa-4025	99	24	1980	1980	NUM
ajfa-4025	99	25	)	)	PUNCT
ajfa-4025	99	26	high	high	ADJ
ajfa-4025	99	27	bm	bm	PROPN
ajfa-4025	99	28	portfolios	portfolio	NOUN
ajfa-4025	99	29	ratio	ratio	VERB
ajfa-4025	99	30	outperform	outperform	VERB
ajfa-4025	99	31	low	low	PROPN
ajfa-4025	99	32	bm	bm	PROPN
ajfa-4025	99	33	portfolio	portfolio	PROPN
ajfa-4025	99	34	in	in	ADP
ajfa-4025	99	35	us	us	PROPN
ajfa-4025	99	36	stock	stock	NOUN
ajfa-4025	99	37	market	market	NOUN
ajfa-4025	99	38	chan	chan	PROPN
ajfa-4025	99	39	,	,	PUNCT
ajfa-4025	99	40	hamao	hamao	PROPN
ajfa-4025	99	41	and	and	CCONJ
ajfa-4025	99	42	lakonishok	lakonishok	PROPN
ajfa-4025	99	43	(	(	PUNCT
ajfa-4025	99	44	1991	1991	NUM
ajfa-4025	99	45	)	)	PUNCT
ajfa-4025	99	46	high	high	ADJ
ajfa-4025	99	47	bm	bm	PROPN
ajfa-4025	99	48	portfolios	portfolio	NOUN
ajfa-4025	99	49	ratio	ratio	VERB
ajfa-4025	99	50	outperform	outperform	VERB
ajfa-4025	99	51	low	low	PROPN
ajfa-4025	99	52	bm	bm	PROPN
ajfa-4025	99	53	portfolio	portfolio	PROPN
ajfa-4025	99	54	in	in	ADP
ajfa-4025	99	55	japan	japan	PROPN
ajfa-4025	99	56	stock	stock	PROPN
ajfa-4025	99	57	market	market	PROPN
ajfa-4025	99	58	chui	chui	PROPN
ajfa-4025	99	59	and	and	CCONJ
ajfa-4025	99	60	wei(1998	wei(1998	NOUN
ajfa-4025	99	61	)	)	PUNCT
ajfa-4025	99	62	high	high	ADJ
ajfa-4025	99	63	bm	bm	PROPN
ajfa-4025	99	64	portfolios	portfolio	NOUN
ajfa-4025	99	65	ratio	ratio	VERB
ajfa-4025	99	66	outperform	outperform	VERB
ajfa-4025	99	67	low	low	PROPN
ajfa-4025	99	68	bm	bm	PROPN
ajfa-4025	99	69	portfolio	portfolio	PROPN
ajfa-4025	99	70	in	in	ADP
ajfa-4025	99	71	hong	hong	PROPN
ajfa-4025	99	72	kong	kong	PROPN
ajfa-4025	99	73	,	,	PUNCT
ajfa-4025	99	74	korea	korea	PROPN
ajfa-4025	99	75	and	and	CCONJ
ajfa-4025	99	76	malaysia	malaysia	PROPN
ajfa-4025	99	77	.	.	PUNCT
ajfa-4025	100	1	daniel	daniel	PROPN
ajfa-4025	100	2	,	,	PUNCT
ajfa-4025	100	3	titman	titman	NOUN
ajfa-4025	100	4	and	and	CCONJ
ajfa-4025	100	5	wei	wei	PROPN
ajfa-4025	100	6	(	(	PUNCT
ajfa-4025	100	7	2001	2001	NUM
ajfa-4025	100	8	)	)	PUNCT
ajfa-4025	100	9	high	high	ADJ
ajfa-4025	100	10	bm	bm	PROPN
ajfa-4025	100	11	portfolios	portfolio	NOUN
ajfa-4025	100	12	ratio	ratio	VERB
ajfa-4025	100	13	outperform	outperform	VERB
ajfa-4025	100	14	low	low	PROPN
ajfa-4025	100	15	bm	bm	PROPN
ajfa-4025	100	16	portfolio	portfolio	PROPN
ajfa-4025	100	17	in	in	ADP
ajfa-4025	100	18	japan	japan	PROPN
ajfa-4025	100	19	stock	stock	PROPN
ajfa-4025	100	20	market	market	NOUN
ajfa-4025	100	21	market	market	NOUN
ajfa-4025	100	22	equity(size	equity(size	VERB
ajfa-4025	100	23	effect	effect	NOUN
ajfa-4025	100	24	)	)	PUNCT
ajfa-4025	100	25	banz	banz	NOUN
ajfa-4025	100	26	(	(	PUNCT
ajfa-4025	100	27	1981	1981	NUM
ajfa-4025	100	28	)	)	PUNCT
ajfa-4025	100	29	small	small	ADJ
ajfa-4025	100	30	size	size	NOUN
ajfa-4025	100	31	firms(low	firms(low	VERB
ajfa-4025	100	32	me	i	PRON
ajfa-4025	100	33	)	)	PUNCT
ajfa-4025	100	34	have	have	VERB
ajfa-4025	100	35	higher	high	ADJ
ajfa-4025	100	36	average	average	ADJ
ajfa-4025	100	37	stock	stock	NOUN
ajfa-4025	100	38	return	return	NOUN
ajfa-4025	100	39	than	than	ADP
ajfa-4025	100	40	large	large	ADJ
ajfa-4025	100	41	size	size	NOUN
ajfa-4025	100	42	firms(high	firms(high	PROPN
ajfa-4025	100	43	me	i	PRON
ajfa-4025	100	44	)	)	PUNCT
ajfa-4025	100	45	small	small	ADJ
ajfa-4025	100	46	size	size	NOUN
ajfa-4025	100	47	effect	effect	NOUN
ajfa-4025	100	48	reinganum	reinganum	PROPN
ajfa-4025	100	49	(	(	PUNCT
ajfa-4025	100	50	1981	1981	NUM
ajfa-4025	100	51	)	)	PUNCT
ajfa-4025	100	52	small	small	ADJ
ajfa-4025	100	53	size	size	NOUN
ajfa-4025	100	54	firms(low	firms(low	VERB
ajfa-4025	100	55	me	i	PRON
ajfa-4025	100	56	)	)	PUNCT
ajfa-4025	100	57	have	have	VERB
ajfa-4025	100	58	higher	high	ADJ
ajfa-4025	100	59	average	average	ADJ
ajfa-4025	100	60	stock	stock	NOUN
ajfa-4025	100	61	return	return	NOUN
ajfa-4025	100	62	than	than	ADP
ajfa-4025	100	63	large	large	ADJ
ajfa-4025	100	64	size	size	NOUN
ajfa-4025	100	65	firms(high	firms(high	PROPN
ajfa-4025	100	66	me	i	PRON
ajfa-4025	100	67	)	)	PUNCT
ajfa-4025	100	68	–	–	PUNCT
ajfa-4025	100	69	small	small	ADJ
ajfa-4025	100	70	size	size	NOUN
ajfa-4025	100	71	effect	effect	NOUN
ajfa-4025	100	72	reinganum	reinganum	PROPN
ajfa-4025	100	73	(	(	PUNCT
ajfa-4025	100	74	1992	1992	NUM
ajfa-4025	100	75	)	)	PUNCT
ajfa-4025	100	76	the	the	DET
ajfa-4025	100	77	size	size	NOUN
ajfa-4025	100	78	effect	effect	NOUN
ajfa-4025	100	79	is	be	AUX
ajfa-4025	100	80	not	not	PART
ajfa-4025	100	81	stable	stable	ADJ
ajfa-4025	100	82	over	over	ADP
ajfa-4025	100	83	time	time	NOUN
ajfa-4025	100	84	3	3	NUM
ajfa-4025	100	85	.	.	PUNCT
ajfa-4025	100	86	data	data	PROPN
ajfa-4025	100	87	&	&	CCONJ
ajfa-4025	100	88	methodology	methodology	NOUN
ajfa-4025	100	89	in	in	ADP
ajfa-4025	100	90	this	this	DET
ajfa-4025	100	91	paper	paper	NOUN
ajfa-4025	100	92	,	,	PUNCT
ajfa-4025	100	93	the	the	DET
ajfa-4025	100	94	analysis	analysis	NOUN
ajfa-4025	100	95	is	be	AUX
ajfa-4025	100	96	conducted	conduct	VERB
ajfa-4025	100	97	based	base	VERB
ajfa-4025	100	98	on	on	ADP
ajfa-4025	100	99	monthly	monthly	ADJ
ajfa-4025	100	100	time	time	NOUN
ajfa-4025	100	101	series	series	PROPN
ajfa-4025	100	102	data	datum	NOUN
ajfa-4025	100	103	from	from	ADP
ajfa-4025	100	104	july	july	PROPN
ajfa-4025	100	105	2003	2003	NUM
ajfa-4025	100	106	to	to	ADP
ajfa-4025	100	107	june	june	PROPN
ajfa-4025	100	108	2011	2011	NUM
ajfa-4025	100	109	.	.	PUNCT
ajfa-4025	101	1	the	the	DET
ajfa-4025	101	2	data	data	NOUN
ajfa-4025	101	3	is	be	AUX
ajfa-4025	101	4	divided	divide	VERB
ajfa-4025	101	5	into	into	ADP
ajfa-4025	101	6	two	two	NUM
ajfa-4025	101	7	categories	category	NOUN
ajfa-4025	101	8	.	.	PUNCT
ajfa-4025	102	1	the	the	DET
ajfa-4025	102	2	first	first	ADJ
ajfa-4025	102	3	data	datum	NOUN
ajfa-4025	102	4	set	set	VERB
ajfa-4025	102	5	consists	consist	VERB
ajfa-4025	102	6	of	of	ADP
ajfa-4025	102	7	macroeconomic	macroeconomic	ADJ
ajfa-4025	102	8	variables	variable	NOUN
ajfa-4025	102	9	while	while	SCONJ
ajfa-4025	102	10	the	the	DET
ajfa-4025	102	11	second	second	ADJ
ajfa-4025	102	12	data	datum	NOUN
ajfa-4025	102	13	set	set	VERB
ajfa-4025	102	14	consists	consist	NOUN
ajfa-4025	102	15	of	of	ADP
ajfa-4025	102	16	stock	stock	NOUN
ajfa-4025	102	17	market	market	NOUN
ajfa-4025	102	18	data	datum	NOUN
ajfa-4025	102	19	.	.	PUNCT
ajfa-4025	103	1	in	in	ADP
ajfa-4025	103	2	the	the	DET
ajfa-4025	103	3	first	first	ADJ
ajfa-4025	103	4	data	datum	NOUN
ajfa-4025	103	5	set	set	VERB
ajfa-4025	103	6	,	,	PUNCT
ajfa-4025	103	7	seven	seven	NUM
ajfa-4025	103	8	macroeconomic	macroeconomic	ADJ
ajfa-4025	103	9	variables	variable	NOUN
ajfa-4025	103	10	namely	namely	ADV
ajfa-4025	103	11	growth	growth	NOUN
ajfa-4025	103	12	rate	rate	NOUN
ajfa-4025	103	13	of	of	ADP
ajfa-4025	103	14	industrial	industrial	ADJ
ajfa-4025	103	15	production	production	NOUN
ajfa-4025	103	16	,	,	PUNCT
ajfa-4025	103	17	changes	change	NOUN
ajfa-4025	103	18	in	in	ADP
ajfa-4025	103	19	money	money	NOUN
ajfa-4025	103	20	supply	supply	NOUN
ajfa-4025	103	21	(	(	PUNCT
ajfa-4025	103	22	m1	m1	PROPN
ajfa-4025	103	23	and	and	CCONJ
ajfa-4025	103	24	m2	m2	PROPN
ajfa-4025	103	25	)	)	PUNCT
ajfa-4025	103	26	,	,	PUNCT
ajfa-4025	103	27	change	change	NOUN
ajfa-4025	103	28	in	in	ADP
ajfa-4025	103	29	consumer	consumer	NOUN
ajfa-4025	103	30	price	price	NOUN
ajfa-4025	103	31	index	index	NOUN
ajfa-4025	103	32	as	as	ADP
ajfa-4025	103	33	the	the	DET
ajfa-4025	103	34	proxy	proxy	NOUN
ajfa-4025	103	35	of	of	ADP
ajfa-4025	103	36	inflation	inflation	NOUN
ajfa-4025	103	37	,	,	PUNCT
ajfa-4025	103	38	change	change	NOUN
ajfa-4025	103	39	in	in	ADP
ajfa-4025	103	40	exchange	exchange	NOUN
ajfa-4025	103	41	rate	rate	NOUN
ajfa-4025	103	42	,	,	PUNCT
ajfa-4025	103	43	change	change	NOUN
ajfa-4025	103	44	in	in	ADP
ajfa-4025	103	45	term	term	NOUN
ajfa-4025	103	46	structure	structure	NOUN
ajfa-4025	103	47	,	,	PUNCT
ajfa-4025	103	48	and	and	CCONJ
ajfa-4025	103	49	growth	growth	NOUN
ajfa-4025	103	50	rate	rate	NOUN
ajfa-4025	103	51	of	of	ADP
ajfa-4025	103	52	crude	crude	ADJ
ajfa-4025	103	53	oil	oil	NOUN
ajfa-4025	103	54	price	price	NOUN
ajfa-4025	103	55	were	be	AUX
ajfa-4025	103	56	obtained	obtain	VERB
ajfa-4025	103	57	on	on	ADP
ajfa-4025	103	58	monthly	monthly	ADJ
ajfa-4025	103	59	basis	basis	NOUN
ajfa-4025	103	60	from	from	ADP
ajfa-4025	103	61	the	the	DET
ajfa-4025	103	62	international	international	ADJ
ajfa-4025	103	63	financial	financial	ADJ
ajfa-4025	103	64	statistics	statistic	NOUN
ajfa-4025	103	65	(	(	PUNCT
ajfa-4025	103	66	ifs	ifs	PROPN
ajfa-4025	103	67	)	)	PUNCT
ajfa-4025	103	68	in	in	ADP
ajfa-4025	103	69	international	international	ADJ
ajfa-4025	103	70	monetary	monetary	ADJ
ajfa-4025	103	71	fund	fund	NOUN
ajfa-4025	103	72	(	(	PUNCT
ajfa-4025	103	73	imf	imf	PROPN
ajfa-4025	103	74	)	)	PUNCT
ajfa-4025	103	75	website	website	NOUN
ajfa-4025	103	76	.	.	PUNCT
ajfa-4025	104	1	the	the	DET
ajfa-4025	104	2	monthly	monthly	ADJ
ajfa-4025	104	3	oil	oil	NOUN
ajfa-4025	104	4	price	price	NOUN
ajfa-4025	104	5	data	datum	NOUN
ajfa-4025	104	6	is	be	AUX
ajfa-4025	104	7	obtained	obtain	VERB
ajfa-4025	104	8	from	from	ADP
ajfa-4025	104	9	the	the	DET
ajfa-4025	104	10	organization	organization	NOUN
ajfa-4025	104	11	of	of	ADP
ajfa-4025	104	12	petroleum	petroleum	NOUN
ajfa-4025	104	13	exporting	export	VERB
ajfa-4025	104	14	countries	country	NOUN
ajfa-4025	104	15	(	(	PUNCT
ajfa-4025	104	16	opec	opec	PROPN
ajfa-4025	104	17	)	)	PUNCT
ajfa-4025	104	18	.	.	PUNCT
ajfa-4025	105	1	the	the	DET
ajfa-4025	105	2	short	short	ADJ
ajfa-4025	105	3	-	-	PUNCT
ajfa-4025	105	4	term	term	NOUN
ajfa-4025	105	5	and	and	CCONJ
ajfa-4025	105	6	long	long	ADJ
ajfa-4025	105	7	-	-	PUNCT
ajfa-4025	105	8	term	term	NOUN
ajfa-4025	105	9	interest	interest	NOUN
ajfa-4025	105	10	rates	rate	NOUN
ajfa-4025	105	11	for	for	ADP
ajfa-4025	105	12	indonesia	indonesia	PROPN
ajfa-4025	105	13	are	be	AUX
ajfa-4025	105	14	not	not	PART
ajfa-4025	105	15	available	available	ADJ
ajfa-4025	105	16	in	in	ADP
ajfa-4025	105	17	ifs	ifs	PROPN
ajfa-4025	105	18	.	.	PUNCT
ajfa-4025	106	1	accordingly	accordingly	ADV
ajfa-4025	106	2	,	,	PUNCT
ajfa-4025	106	3	the	the	DET
ajfa-4025	106	4	30	30	NUM
ajfa-4025	106	5	-	-	PUNCT
ajfa-4025	106	6	day	day	NOUN
ajfa-4025	106	7	bank	bank	NOUN
ajfa-4025	106	8	indonesia	indonesia	PROPN
ajfa-4025	106	9	certificate	certificate	PROPN
ajfa-4025	106	10	(	(	PUNCT
ajfa-4025	106	11	sbi	sbi	PROPN
ajfa-4025	106	12	)	)	PUNCT
ajfa-4025	106	13	is	be	AUX
ajfa-4025	106	14	used	use	VERB
ajfa-4025	106	15	in	in	ADP
ajfa-4025	106	16	place	place	NOUN
ajfa-4025	106	17	of	of	ADP
ajfa-4025	106	18	the	the	DET
ajfa-4025	106	19	short	short	ADJ
ajfa-4025	106	20	-	-	PUNCT
ajfa-4025	106	21	term	term	NOUN
ajfa-4025	106	22	interest	interest	NOUN
ajfa-4025	106	23	rate	rate	NOUN
ajfa-4025	106	24	,	,	PUNCT
ajfa-4025	106	25	while	while	SCONJ
ajfa-4025	106	26	the	the	DET
ajfa-4025	106	27	90	90	NUM
ajfa-4025	106	28	-	-	PUNCT
ajfa-4025	106	29	day	day	NOUN
ajfa-4025	106	30	asian	asian	ADJ
ajfa-4025	106	31	journal	journal	NOUN
ajfa-4025	106	32	of	of	ADP
ajfa-4025	106	33	finance	finance	PROPN
ajfa-4025	106	34	&	&	CCONJ
ajfa-4025	106	35	accounting	accounting	PROPN
ajfa-4025	106	36	issn	issn	PROPN
ajfa-4025	106	37	1946	1946	NUM
ajfa-4025	106	38	-	-	PUNCT
ajfa-4025	106	39	052x	052x	NOUN
ajfa-4025	106	40	2013	2013	NUM
ajfa-4025	106	41	,	,	PUNCT
ajfa-4025	106	42	vol	vol	NOUN
ajfa-4025	106	43	.	.	PROPN
ajfa-4025	106	44	5	5	NUM
ajfa-4025	106	45	,	,	PUNCT
ajfa-4025	106	46	no	no	INTJ
ajfa-4025	106	47	.	.	NOUN
ajfa-4025	106	48	2	2	NUM
ajfa-4025	106	49	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	106	50	166	166	NUM
ajfa-4025	106	51	sbi	sbi	NOUN
ajfa-4025	106	52	is	be	AUX
ajfa-4025	106	53	used	use	VERB
ajfa-4025	106	54	as	as	ADP
ajfa-4025	106	55	the	the	DET
ajfa-4025	106	56	proxy	proxy	NOUN
ajfa-4025	106	57	for	for	ADP
ajfa-4025	106	58	the	the	DET
ajfa-4025	106	59	long	long	ADJ
ajfa-4025	106	60	-	-	PUNCT
ajfa-4025	106	61	term	term	NOUN
ajfa-4025	106	62	interest	interest	NOUN
ajfa-4025	106	63	rate	rate	NOUN
ajfa-4025	106	64	;	;	PUNCT
ajfa-4025	106	65	both	both	PRON
ajfa-4025	106	66	of	of	ADP
ajfa-4025	106	67	these	these	DET
ajfa-4025	106	68	sbis	sbis	NOUN
ajfa-4025	106	69	are	be	AUX
ajfa-4025	106	70	obtained	obtain	VERB
ajfa-4025	106	71	from	from	ADP
ajfa-4025	106	72	the	the	DET
ajfa-4025	106	73	ceic	ceic	VERB
ajfa-4025	106	74	database	database	NOUN
ajfa-4025	106	75	.	.	PUNCT
ajfa-4025	107	1	in	in	ADP
ajfa-4025	107	2	the	the	DET
ajfa-4025	107	3	second	second	ADJ
ajfa-4025	107	4	dataset	dataset	NOUN
ajfa-4025	107	5	,	,	PUNCT
ajfa-4025	107	6	book	book	NOUN
ajfa-4025	107	7	-	-	PUNCT
ajfa-4025	107	8	to	to	ADP
ajfa-4025	107	9	-	-	PUNCT
ajfa-4025	107	10	market	market	NOUN
ajfa-4025	107	11	equity	equity	NOUN
ajfa-4025	107	12	and	and	CCONJ
ajfa-4025	107	13	market	market	NOUN
ajfa-4025	107	14	capitalization	capitalization	NOUN
ajfa-4025	107	15	are	be	AUX
ajfa-4025	107	16	used	use	VERB
ajfa-4025	107	17	to	to	PART
ajfa-4025	107	18	establish	establish	VERB
ajfa-4025	107	19	the	the	DET
ajfa-4025	107	20	portfolio	portfolio	NOUN
ajfa-4025	107	21	for	for	ADP
ajfa-4025	107	22	the	the	DET
ajfa-4025	107	23	stock	stock	NOUN
ajfa-4025	107	24	return	return	NOUN
ajfa-4025	107	25	by	by	ADP
ajfa-4025	107	26	grouping	group	VERB
ajfa-4025	107	27	them	they	PRON
ajfa-4025	107	28	into	into	ADP
ajfa-4025	107	29	low	low	ADJ
ajfa-4025	107	30	,	,	PUNCT
ajfa-4025	107	31	medium	medium	ADJ
ajfa-4025	107	32	and	and	CCONJ
ajfa-4025	107	33	high	high	ADJ
ajfa-4025	107	34	equity	equity	NOUN
ajfa-4025	107	35	firm	firm	NOUN
ajfa-4025	107	36	-	-	PUNCT
ajfa-4025	107	37	specific	specific	ADJ
ajfa-4025	107	38	factors	factor	NOUN
ajfa-4025	107	39	.	.	PUNCT
ajfa-4025	108	1	to	to	PART
ajfa-4025	108	2	match	match	VERB
ajfa-4025	108	3	the	the	DET
ajfa-4025	108	4	variables	variable	NOUN
ajfa-4025	108	5	of	of	ADP
ajfa-4025	108	6	firms	firm	NOUN
ajfa-4025	108	7	’	'	PUNCT
ajfa-4025	108	8	characteristics	characteristic	NOUN
ajfa-4025	108	9	with	with	ADP
ajfa-4025	108	10	stock	stock	NOUN
ajfa-4025	108	11	returns	return	NOUN
ajfa-4025	108	12	,	,	PUNCT
ajfa-4025	108	13	we	we	PRON
ajfa-4025	108	14	match	match	VERB
ajfa-4025	108	15	the	the	DET
ajfa-4025	108	16	accounting	accounting	NOUN
ajfa-4025	108	17	data	datum	NOUN
ajfa-4025	108	18	for	for	ADP
ajfa-4025	108	19	fiscal	fiscal	ADJ
ajfa-4025	108	20	year	year	NOUN
ajfa-4025	108	21	end	end	VERB
ajfa-4025	108	22	t-1	t-1	PROPN
ajfa-4025	108	23	with	with	ADP
ajfa-4025	108	24	the	the	DET
ajfa-4025	108	25	stock	stock	NOUN
ajfa-4025	108	26	return	return	NOUN
ajfa-4025	108	27	of	of	ADP
ajfa-4025	108	28	july	july	PROPN
ajfa-4025	108	29	of	of	ADP
ajfa-4025	108	30	year	year	NOUN
ajfa-4025	108	31	t	t	PROPN
ajfa-4025	108	32	to	to	ADP
ajfa-4025	108	33	june	june	PROPN
ajfa-4025	108	34	of	of	ADP
ajfa-4025	108	35	year	year	NOUN
ajfa-4025	108	36	t+1	t+1	NUM
ajfa-4025	108	37	.	.	PUNCT
ajfa-4025	109	1	the	the	DET
ajfa-4025	109	2	objective	objective	NOUN
ajfa-4025	109	3	in	in	ADP
ajfa-4025	109	4	choosing	choose	VERB
ajfa-4025	109	5	a	a	DET
ajfa-4025	109	6	six	six	NUM
ajfa-4025	109	7	months	month	NOUN
ajfa-4025	109	8	’	'	PUNCT
ajfa-4025	109	9	gap	gap	NOUN
ajfa-4025	109	10	between	between	ADP
ajfa-4025	109	11	fiscal	fiscal	ADJ
ajfa-4025	109	12	year	year	NOUN
ajfa-4025	109	13	-	-	PUNCT
ajfa-4025	109	14	end	end	NOUN
ajfa-4025	109	15	is	be	AUX
ajfa-4025	109	16	to	to	PART
ajfa-4025	109	17	provide	provide	VERB
ajfa-4025	109	18	a	a	DET
ajfa-4025	109	19	conservative	conservative	ADJ
ajfa-4025	109	20	time	time	NOUN
ajfa-4025	109	21	for	for	SCONJ
ajfa-4025	109	22	firm	firm	NOUN
ajfa-4025	109	23	to	to	PART
ajfa-4025	109	24	release	release	VERB
ajfa-4025	109	25	their	their	PRON
ajfa-4025	109	26	accounting	accounting	NOUN
ajfa-4025	109	27	information	information	NOUN
ajfa-4025	109	28	to	to	ADP
ajfa-4025	109	29	the	the	DET
ajfa-4025	109	30	public	public	NOUN
ajfa-4025	109	31	after	after	ADP
ajfa-4025	109	32	fiscal	fiscal	ADJ
ajfa-4025	109	33	year	year	NOUN
ajfa-4025	109	34	end	end	PROPN
ajfa-4025	109	35	t-1	t-1	PROPN
ajfa-4025	109	36	.	.	PUNCT
ajfa-4025	110	1	the	the	DET
ajfa-4025	110	2	sorted	sort	VERB
ajfa-4025	110	3	stock	stock	NOUN
ajfa-4025	110	4	returns	return	NOUN
ajfa-4025	110	5	are	be	AUX
ajfa-4025	110	6	grouped	group	VERB
ajfa-4025	110	7	into	into	ADP
ajfa-4025	110	8	a	a	DET
ajfa-4025	110	9	stock	stock	NOUN
ajfa-4025	110	10	portfolio	portfolio	NOUN
ajfa-4025	110	11	based	base	VERB
ajfa-4025	110	12	on	on	ADP
ajfa-4025	110	13	firm	firm	ADJ
ajfa-4025	110	14	characteristics	characteristic	NOUN
ajfa-4025	110	15	.	.	PUNCT
ajfa-4025	111	1	to	to	PART
ajfa-4025	111	2	avoid	avoid	VERB
ajfa-4025	111	3	missing	miss	VERB
ajfa-4025	111	4	observations	observation	NOUN
ajfa-4025	111	5	and	and	CCONJ
ajfa-4025	111	6	any	any	DET
ajfa-4025	111	7	biases	bias	NOUN
ajfa-4025	111	8	in	in	ADP
ajfa-4025	111	9	the	the	DET
ajfa-4025	111	10	data	data	NOUN
ajfa-4025	111	11	sets	set	NOUN
ajfa-4025	111	12	which	which	PRON
ajfa-4025	111	13	could	could	AUX
ajfa-4025	111	14	potentially	potentially	ADV
ajfa-4025	111	15	affect	affect	VERB
ajfa-4025	111	16	the	the	DET
ajfa-4025	111	17	study	study	NOUN
ajfa-4025	111	18	results	result	NOUN
ajfa-4025	111	19	,	,	PUNCT
ajfa-4025	111	20	we	we	PRON
ajfa-4025	111	21	established	establish	VERB
ajfa-4025	111	22	three	three	NUM
ajfa-4025	111	23	criteria	criterion	NOUN
ajfa-4025	111	24	for	for	ADP
ajfa-4025	111	25	stock	stock	NOUN
ajfa-4025	111	26	selection	selection	NOUN
ajfa-4025	111	27	.	.	PUNCT
ajfa-4025	112	1	(	(	PUNCT
ajfa-4025	112	2	i	i	NOUN
ajfa-4025	112	3	)	)	PUNCT
ajfa-4025	112	4	the	the	DET
ajfa-4025	112	5	stock	stock	NOUN
ajfa-4025	112	6	should	should	AUX
ajfa-4025	112	7	not	not	PART
ajfa-4025	112	8	have	have	VERB
ajfa-4025	112	9	negative	negative	ADJ
ajfa-4025	112	10	book	book	NOUN
ajfa-4025	112	11	equity	equity	NOUN
ajfa-4025	112	12	at	at	ADP
ajfa-4025	112	13	fiscal	fiscal	ADJ
ajfa-4025	112	14	year	year	NOUN
ajfa-4025	112	15	-	-	PUNCT
ajfa-4025	112	16	end	end	NOUN
ajfa-4025	112	17	t-1	t-1	PROPN
ajfa-4025	112	18	(	(	PUNCT
ajfa-4025	112	19	fama	fama	PROPN
ajfa-4025	112	20	&	&	CCONJ
ajfa-4025	112	21	french	french	PROPN
ajfa-4025	112	22	,	,	PUNCT
ajfa-4025	112	23	1995	1995	NUM
ajfa-4025	112	24	)	)	PUNCT
ajfa-4025	112	25	,	,	PUNCT
ajfa-4025	112	26	(	(	PUNCT
ajfa-4025	112	27	ii	ii	NOUN
ajfa-4025	112	28	)	)	PUNCT
ajfa-4025	112	29	any	any	DET
ajfa-4025	112	30	stock	stock	NOUN
ajfa-4025	112	31	without	without	ADP
ajfa-4025	112	32	a	a	DET
ajfa-4025	112	33	trading	trading	NOUN
ajfa-4025	112	34	record	record	NOUN
ajfa-4025	112	35	for	for	ADP
ajfa-4025	112	36	more	more	ADJ
ajfa-4025	112	37	than	than	ADP
ajfa-4025	112	38	one	one	NUM
ajfa-4025	112	39	month	month	NOUN
ajfa-4025	112	40	will	will	AUX
ajfa-4025	112	41	be	be	AUX
ajfa-4025	112	42	excluded	exclude	VERB
ajfa-4025	112	43	from	from	ADP
ajfa-4025	112	44	the	the	DET
ajfa-4025	112	45	study	study	NOUN
ajfa-4025	112	46	and	and	CCONJ
ajfa-4025	112	47	(	(	PUNCT
ajfa-4025	112	48	iii	iii	NOUN
ajfa-4025	112	49	)	)	PUNCT
ajfa-4025	112	50	to	to	PART
ajfa-4025	112	51	keep	keep	VERB
ajfa-4025	112	52	the	the	DET
ajfa-4025	112	53	portfolio	portfolio	NOUN
ajfa-4025	112	54	consistent	consistent	ADJ
ajfa-4025	112	55	,	,	PUNCT
ajfa-4025	112	56	the	the	DET
ajfa-4025	112	57	portfolio	portfolio	NOUN
ajfa-4025	112	58	only	only	ADV
ajfa-4025	112	59	includes	include	VERB
ajfa-4025	112	60	stock	stock	NOUN
ajfa-4025	112	61	which	which	PRON
ajfa-4025	112	62	was	be	AUX
ajfa-4025	112	63	consistently	consistently	ADV
ajfa-4025	112	64	traded	trade	VERB
ajfa-4025	112	65	during	during	ADP
ajfa-4025	112	66	the	the	DET
ajfa-4025	112	67	eight	eight	NUM
ajfa-4025	112	68	-	-	PUNCT
ajfa-4025	112	69	year	year	NOUN
ajfa-4025	112	70	period	period	NOUN
ajfa-4025	112	71	under	under	ADP
ajfa-4025	112	72	study	study	NOUN
ajfa-4025	112	73	.	.	PUNCT
ajfa-4025	113	1	for	for	ADP
ajfa-4025	113	2	all	all	DET
ajfa-4025	113	3	firms	firm	NOUN
ajfa-4025	113	4	by	by	ADP
ajfa-4025	113	5	country	country	NOUN
ajfa-4025	113	6	in	in	ADP
ajfa-4025	113	7	the	the	DET
ajfa-4025	113	8	sampling	sampling	NOUN
ajfa-4025	113	9	period	period	NOUN
ajfa-4025	113	10	,	,	PUNCT
ajfa-4025	113	11	three	three	NUM
ajfa-4025	113	12	equal	equal	ADJ
ajfa-4025	113	13	groups	group	NOUN
ajfa-4025	113	14	of	of	ADP
ajfa-4025	113	15	portfolio	portfolio	NOUN
ajfa-4025	113	16	are	be	AUX
ajfa-4025	113	17	formed	form	VERB
ajfa-4025	113	18	according	accord	VERB
ajfa-4025	113	19	the	the	DET
ajfa-4025	113	20	firm	firm	ADJ
ajfa-4025	113	21	characteristics	characteristic	NOUN
ajfa-4025	113	22	of	of	ADP
ajfa-4025	113	23	price	price	NOUN
ajfa-4025	113	24	-	-	PUNCT
ajfa-4025	113	25	earnings	earning	NOUN
ajfa-4025	113	26	(	(	PUNCT
ajfa-4025	113	27	pe	pe	NOUN
ajfa-4025	113	28	)	)	PUNCT
ajfa-4025	113	29	ratio	ratio	NOUN
ajfa-4025	113	30	,	,	PUNCT
ajfa-4025	113	31	book	book	NOUN
ajfa-4025	113	32	-	-	PUNCT
ajfa-4025	113	33	to	to	ADP
ajfa-4025	113	34	-	-	PUNCT
ajfa-4025	113	35	market	market	NOUN
ajfa-4025	113	36	(	(	PUNCT
ajfa-4025	113	37	bm	bm	PROPN
ajfa-4025	113	38	)	)	PUNCT
ajfa-4025	113	39	ratio	ratio	NOUN
ajfa-4025	113	40	and	and	CCONJ
ajfa-4025	113	41	market	market	NOUN
ajfa-4025	113	42	equity	equity	NOUN
ajfa-4025	113	43	(	(	PUNCT
ajfa-4025	113	44	me	i	PRON
ajfa-4025	113	45	)	)	PUNCT
ajfa-4025	113	46	.	.	PUNCT
ajfa-4025	114	1	the	the	DET
ajfa-4025	114	2	portfolios	portfolio	NOUN
ajfa-4025	114	3	are	be	AUX
ajfa-4025	114	4	grouped	group	VERB
ajfa-4025	114	5	into	into	ADP
ajfa-4025	114	6	high	high	ADJ
ajfa-4025	114	7	,	,	PUNCT
ajfa-4025	114	8	medium	medium	ADJ
ajfa-4025	114	9	and	and	CCONJ
ajfa-4025	114	10	low	low	ADJ
ajfa-4025	114	11	based	base	VERB
ajfa-4025	114	12	on	on	ADP
ajfa-4025	114	13	the	the	DET
ajfa-4025	114	14	rank	rank	NOUN
ajfa-4025	114	15	in	in	ADP
ajfa-4025	114	16	each	each	DET
ajfa-4025	114	17	firm	firm	ADJ
ajfa-4025	114	18	characteristic	characteristic	NOUN
ajfa-4025	114	19	.	.	PUNCT
ajfa-4025	115	1	eventually	eventually	ADV
ajfa-4025	115	2	,	,	PUNCT
ajfa-4025	115	3	nine	nine	NUM
ajfa-4025	115	4	portfolios	portfolio	NOUN
ajfa-4025	115	5	(	(	PUNCT
ajfa-4025	115	6	3	3	NUM
ajfa-4025	115	7	portfolios	portfolio	NOUN
ajfa-4025	115	8	x	x	SYM
ajfa-4025	115	9	3	3	NUM
ajfa-4025	115	10	firm	firm	ADJ
ajfa-4025	115	11	-	-	PUNCT
ajfa-4025	115	12	specific	specific	ADJ
ajfa-4025	115	13	criteria	criterion	NOUN
ajfa-4025	115	14	)	)	PUNCT
ajfa-4025	115	15	are	be	AUX
ajfa-4025	115	16	established	establish	VERB
ajfa-4025	115	17	for	for	ADP
ajfa-4025	115	18	each	each	DET
ajfa-4025	115	19	country	country	NOUN
ajfa-4025	115	20	for	for	ADP
ajfa-4025	115	21	the	the	DET
ajfa-4025	115	22	time	time	NOUN
ajfa-4025	115	23	interval	interval	NOUN
ajfa-4025	115	24	july	july	PROPN
ajfa-4025	115	25	2003	2003	NUM
ajfa-4025	115	26	to	to	ADP
ajfa-4025	115	27	june	june	PROPN
ajfa-4025	115	28	2011	2011	NUM
ajfa-4025	115	29	.	.	PUNCT
ajfa-4025	116	1	the	the	DET
ajfa-4025	116	2	data	data	NOUN
ajfa-4025	116	3	definition	definition	NOUN
ajfa-4025	116	4	,	,	PUNCT
ajfa-4025	116	5	symbol	symbol	NOUN
ajfa-4025	116	6	,	,	PUNCT
ajfa-4025	116	7	source	source	NOUN
ajfa-4025	116	8	of	of	ADP
ajfa-4025	116	9	the	the	DET
ajfa-4025	116	10	basic	basic	ADJ
ajfa-4025	116	11	series	series	NOUN
ajfa-4025	116	12	and	and	CCONJ
ajfa-4025	116	13	derived	derived	ADJ
ajfa-4025	116	14	series	series	NOUN
ajfa-4025	116	15	of	of	ADP
ajfa-4025	116	16	data	datum	NOUN
ajfa-4025	116	17	and	and	CCONJ
ajfa-4025	116	18	portfolio	portfolio	NOUN
ajfa-4025	116	19	construction	construction	NOUN
ajfa-4025	116	20	are	be	AUX
ajfa-4025	116	21	illustrated	illustrate	VERB
ajfa-4025	116	22	in	in	ADP
ajfa-4025	116	23	table	table	NOUN
ajfa-4025	116	24	2	2	NUM
ajfa-4025	116	25	.	.	PUNCT
ajfa-4025	116	26	table	table	NOUN
ajfa-4025	116	27	2	2	NUM
ajfa-4025	116	28	.	.	PUNCT
ajfa-4025	117	1	glossary	glossary	NOUN
ajfa-4025	117	2	and	and	CCONJ
ajfa-4025	117	3	definition	definition	NOUN
ajfa-4025	117	4	of	of	ADP
ajfa-4025	117	5	macroeconomic	macroeconomic	ADJ
ajfa-4025	117	6	variables	variable	NOUN
ajfa-4025	117	7	and	and	CCONJ
ajfa-4025	117	8	portfolio	portfolio	NOUN
ajfa-4025	117	9	construction	construction	NOUN
ajfa-4025	117	10	symbol	symbol	NOUN
ajfa-4025	117	11	variable	variable	ADJ
ajfa-4025	117	12	definition	definition	NOUN
ajfa-4025	117	13	basic	basic	ADJ
ajfa-4025	117	14	series	series	NOUN
ajfa-4025	117	15	ip	ip	VERB
ajfa-4025	117	16	industrial	industrial	ADJ
ajfa-4025	117	17	production	production	NOUN
ajfa-4025	117	18	monthly	monthly	ADJ
ajfa-4025	117	19	industrial	industrial	ADJ
ajfa-4025	117	20	production	production	NOUN
ajfa-4025	117	21	index	index	NOUN
ajfa-4025	117	22	inf	inf	NOUN
ajfa-4025	117	23	inflation	inflation	NOUN
ajfa-4025	117	24	monthly	monthly	ADJ
ajfa-4025	117	25	consumer	consumer	NOUN
ajfa-4025	117	26	price	price	NOUN
ajfa-4025	117	27	er	er	INTJ
ajfa-4025	117	28	exchange	exchange	NOUN
ajfa-4025	117	29	rate	rate	NOUN
ajfa-4025	117	30	monthly	monthly	ADJ
ajfa-4025	117	31	national	national	ADJ
ajfa-4025	117	32	currency	currency	NOUN
ajfa-4025	117	33	per	per	ADP
ajfa-4025	117	34	sdr	sdr	PROPN
ajfa-4025	117	35	rate	rate	NOUN
ajfa-4025	117	36	stir	stir	VERB
ajfa-4025	117	37	short	short	ADJ
ajfa-4025	117	38	term	term	NOUN
ajfa-4025	117	39	interest	interest	NOUN
ajfa-4025	117	40	rate	rate	NOUN
ajfa-4025	117	41	monthly	monthly	ADJ
ajfa-4025	117	42	treasury	treasury	PROPN
ajfa-4025	117	43	bill	bill	PROPN
ajfa-4025	117	44	interest	interest	NOUN
ajfa-4025	117	45	rate	rate	PROPN
ajfa-4025	117	46	ltir	ltir	PROPN
ajfa-4025	117	47	*	*	PROPN
ajfa-4025	117	48	long	long	ADJ
ajfa-4025	117	49	term	term	NOUN
ajfa-4025	117	50	interest	interest	NOUN
ajfa-4025	117	51	rate	rate	NOUN
ajfa-4025	117	52	monthly	monthly	ADJ
ajfa-4025	117	53	long	long	ADJ
ajfa-4025	117	54	term	term	NOUN
ajfa-4025	117	55	government	government	NOUN
ajfa-4025	117	56	bond	bond	NOUN
ajfa-4025	117	57	rate	rate	NOUN
ajfa-4025	117	58	ms	ms	PROPN
ajfa-4025	117	59	money	money	NOUN
ajfa-4025	117	60	supply	supply	VERB
ajfa-4025	117	61	monthly	monthly	ADJ
ajfa-4025	117	62	money	money	NOUN
ajfa-4025	117	63	supply	supply	NOUN
ajfa-4025	117	64	m1	m1	PROPN
ajfa-4025	117	65	and	and	CCONJ
ajfa-4025	117	66	m2	m2	PROPN
ajfa-4025	117	67	op	op	NOUN
ajfa-4025	117	68	oil	oil	NOUN
ajfa-4025	117	69	price	price	NOUN
ajfa-4025	117	70	monthly	monthly	ADJ
ajfa-4025	117	71	oil	oil	NOUN
ajfa-4025	117	72	price	price	NOUN
ajfa-4025	117	73	–	–	PUNCT
ajfa-4025	117	74	opec	opec	PROPN
ajfa-4025	117	75	derived	derive	VERB
ajfa-4025	117	76	time	time	NOUN
ajfa-4025	117	77	series	series	PROPN
ajfa-4025	117	78	economic	economic	ADJ
ajfa-4025	117	79	data	datum	NOUN
ajfa-4025	117	80	∆ip(t	∆ip(t	NOUN
ajfa-4025	117	81	)	)	PUNCT
ajfa-4025	117	82	monthly	monthly	ADJ
ajfa-4025	117	83	growth	growth	NOUN
ajfa-4025	117	84	rate	rate	NOUN
ajfa-4025	117	85	of	of	ADP
ajfa-4025	117	86	industrial	industrial	ADJ
ajfa-4025	117	87	production	production	NOUN
ajfa-4025	117	88	∆inf(t	∆inf(t	NOUN
ajfa-4025	117	89	)	)	PUNCT
ajfa-4025	117	90	monthly	monthly	ADJ
ajfa-4025	117	91	change	change	NOUN
ajfa-4025	117	92	in	in	ADP
ajfa-4025	117	93	consumer	consumer	NOUN
ajfa-4025	117	94	price	price	NOUN
ajfa-4025	117	95	index	index	NOUN
ajfa-4025	117	96	asian	asian	ADJ
ajfa-4025	117	97	journal	journal	NOUN
ajfa-4025	117	98	of	of	ADP
ajfa-4025	117	99	finance	finance	PROPN
ajfa-4025	117	100	&	&	CCONJ
ajfa-4025	117	101	accounting	accounting	PROPN
ajfa-4025	117	102	issn	issn	PROPN
ajfa-4025	117	103	1946	1946	NUM
ajfa-4025	117	104	-	-	PUNCT
ajfa-4025	117	105	052x	052x	NOUN
ajfa-4025	117	106	2013	2013	NUM
ajfa-4025	117	107	,	,	PUNCT
ajfa-4025	117	108	vol	vol	NOUN
ajfa-4025	117	109	.	.	PROPN
ajfa-4025	117	110	5	5	NUM
ajfa-4025	117	111	,	,	PUNCT
ajfa-4025	117	112	no	no	INTJ
ajfa-4025	117	113	.	.	NOUN
ajfa-4025	117	114	2	2	NUM
ajfa-4025	117	115	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	117	116	167	167	NUM
ajfa-4025	117	117	∆er(t	∆er(t	NOUN
ajfa-4025	117	118	)	)	PUNCT
ajfa-4025	117	119	monthly	monthly	ADJ
ajfa-4025	117	120	change	change	NOUN
ajfa-4025	117	121	in	in	ADP
ajfa-4025	117	122	exchange	exchange	NOUN
ajfa-4025	117	123	rate	rate	NOUN
ajfa-4025	117	124	ts(t	ts(t	NOUN
ajfa-4025	117	125	)	)	PUNCT
ajfa-4025	117	126	term	term	NOUN
ajfa-4025	117	127	structure	structure	NOUN
ajfa-4025	117	128	∆ts(t	∆ts(t	NOUN
ajfa-4025	117	129	)	)	PUNCT
ajfa-4025	117	130	monthly	monthly	ADJ
ajfa-4025	117	131	change	change	NOUN
ajfa-4025	117	132	in	in	ADP
ajfa-4025	117	133	term	term	NOUN
ajfa-4025	117	134	structure	structure	NOUN
ajfa-4025	117	135	∆ms(t	∆ms(t	NOUN
ajfa-4025	117	136	)	)	PUNCT
ajfa-4025	117	137	monthly	monthly	ADJ
ajfa-4025	117	138	growth	growth	NOUN
ajfa-4025	117	139	rate	rate	NOUN
ajfa-4025	117	140	of	of	ADP
ajfa-4025	117	141	money	money	NOUN
ajfa-4025	117	142	supply	supply	NOUN
ajfa-4025	117	143	∆op(t	∆op(t	NOUN
ajfa-4025	117	144	)	)	PUNCT
ajfa-4025	117	145	monthly	monthly	ADJ
ajfa-4025	117	146	growth	growth	NOUN
ajfa-4025	117	147	rate	rate	NOUN
ajfa-4025	117	148	of	of	ADP
ajfa-4025	117	149	oil	oil	NOUN
ajfa-4025	117	150	price	price	NOUN
ajfa-4025	117	151	portfolio	portfolio	NOUN
ajfa-4025	117	152	construction	construction	NOUN
ajfa-4025	117	153	peh	peh	PROPN
ajfa-4025	117	154	price	price	NOUN
ajfa-4025	117	155	-	-	PUNCT
ajfa-4025	117	156	earnings	earning	NOUN
ajfa-4025	117	157	ratio(high	ratio(high	NOUN
ajfa-4025	117	158	)	)	PUNCT
ajfa-4025	117	159	market	market	NOUN
ajfa-4025	117	160	equity	equity	NOUN
ajfa-4025	117	161	divided	divide	VERB
ajfa-4025	117	162	by	by	ADP
ajfa-4025	117	163	annual	annual	ADJ
ajfa-4025	117	164	net	net	ADJ
ajfa-4025	117	165	income	income	NOUN
ajfa-4025	117	166	of	of	ADP
ajfa-4025	117	167	firm	firm	NOUN
ajfa-4025	117	168	at	at	ADP
ajfa-4025	117	169	the	the	DET
ajfa-4025	117	170	end	end	NOUN
ajfa-4025	117	171	of	of	ADP
ajfa-4025	117	172	december	december	PROPN
ajfa-4025	117	173	in	in	ADP
ajfa-4025	117	174	year	year	NOUN
ajfa-4025	117	175	t-1	t-1	PROPN
ajfa-4025	117	176	the	the	DET
ajfa-4025	117	177	highest	high	ADJ
ajfa-4025	117	178	33.33	33.33	NUM
ajfa-4025	117	179	%	%	NOUN
ajfa-4025	117	180	of	of	ADP
ajfa-4025	117	181	stock	stock	NOUN
ajfa-4025	117	182	sort	sort	NOUN
ajfa-4025	117	183	by	by	ADP
ajfa-4025	117	184	price	price	NOUN
ajfa-4025	117	185	-	-	PUNCT
ajfa-4025	117	186	earnings	earning	NOUN
ajfa-4025	117	187	ratio	ratio	NOUN
ajfa-4025	117	188	pem	pem	NOUN
ajfa-4025	117	189	price	price	NOUN
ajfa-4025	117	190	-	-	PUNCT
ajfa-4025	117	191	earnings	earning	NOUN
ajfa-4025	117	192	ratio(medium	ratio(medium	NOUN
ajfa-4025	117	193	)	)	PUNCT
ajfa-4025	117	194	the	the	DET
ajfa-4025	117	195	medium	medium	ADJ
ajfa-4025	117	196	range	range	NOUN
ajfa-4025	117	197	33.33	33.33	NUM
ajfa-4025	117	198	%	%	NOUN
ajfa-4025	117	199	to	to	ADP
ajfa-4025	117	200	66.66	66.66	NUM
ajfa-4025	117	201	%	%	NOUN
ajfa-4025	117	202	of	of	ADP
ajfa-4025	117	203	stock	stock	NOUN
ajfa-4025	117	204	sort	sort	NOUN
ajfa-4025	117	205	by	by	ADP
ajfa-4025	117	206	price	price	NOUN
ajfa-4025	117	207	-	-	PUNCT
ajfa-4025	117	208	earnings	earning	NOUN
ajfa-4025	117	209	ratio	ratio	NOUN
ajfa-4025	117	210	pel	pel	PROPN
ajfa-4025	117	211	price	price	NOUN
ajfa-4025	117	212	-	-	PUNCT
ajfa-4025	117	213	earnings	earning	NOUN
ajfa-4025	117	214	ratio(low	ratio(low	NOUN
ajfa-4025	117	215	)	)	PUNCT
ajfa-4025	117	216	the	the	DET
ajfa-4025	117	217	lowest	low	ADJ
ajfa-4025	117	218	33.33	33.33	NUM
ajfa-4025	117	219	%	%	NOUN
ajfa-4025	117	220	of	of	ADP
ajfa-4025	117	221	stock	stock	NOUN
ajfa-4025	117	222	sort	sort	NOUN
ajfa-4025	117	223	by	by	ADP
ajfa-4025	117	224	price	price	NOUN
ajfa-4025	117	225	-	-	PUNCT
ajfa-4025	117	226	earnings	earning	NOUN
ajfa-4025	117	227	ratio	ratio	NOUN
ajfa-4025	117	228	meh	meh	NOUN
ajfa-4025	117	229	market	market	NOUN
ajfa-4025	117	230	equity	equity	NOUN
ajfa-4025	117	231	(	(	PUNCT
ajfa-4025	117	232	high	high	ADJ
ajfa-4025	117	233	)	)	PUNCT
ajfa-4025	117	234	price	price	NOUN
ajfa-4025	117	235	times	time	NOUN
ajfa-4025	117	236	number	number	NOUN
ajfa-4025	117	237	of	of	ADP
ajfa-4025	117	238	shares	share	NOUN
ajfa-4025	117	239	outstanding	outstanding	ADJ
ajfa-4025	117	240	at	at	ADP
ajfa-4025	117	241	the	the	DET
ajfa-4025	117	242	end	end	NOUN
ajfa-4025	117	243	of	of	ADP
ajfa-4025	117	244	fiscal	fiscal	ADJ
ajfa-4025	117	245	year	year	NOUN
ajfa-4025	117	246	t-1	t-1	PROPN
ajfa-4025	117	247	.	.	PUNCT
ajfa-4025	118	1	the	the	DET
ajfa-4025	118	2	highest	high	ADJ
ajfa-4025	118	3	33.33	33.33	NUM
ajfa-4025	118	4	%	%	NOUN
ajfa-4025	118	5	of	of	ADP
ajfa-4025	118	6	stock	stock	NOUN
ajfa-4025	118	7	sort	sort	NOUN
ajfa-4025	118	8	by	by	ADP
ajfa-4025	118	9	market	market	NOUN
ajfa-4025	118	10	equity	equity	NOUN
ajfa-4025	118	11	mem	mem	ADJ
ajfa-4025	118	12	market	market	NOUN
ajfa-4025	118	13	equity	equity	NOUN
ajfa-4025	118	14	(	(	PUNCT
ajfa-4025	118	15	medium	medium	NOUN
ajfa-4025	118	16	)	)	PUNCT
ajfa-4025	118	17	the	the	DET
ajfa-4025	118	18	medium	medium	ADJ
ajfa-4025	118	19	range	range	NOUN
ajfa-4025	118	20	33.33	33.33	NUM
ajfa-4025	118	21	%	%	NOUN
ajfa-4025	118	22	to	to	ADP
ajfa-4025	118	23	66.66	66.66	NUM
ajfa-4025	118	24	%	%	NOUN
ajfa-4025	118	25	of	of	ADP
ajfa-4025	118	26	stock	stock	NOUN
ajfa-4025	118	27	sort	sort	NOUN
ajfa-4025	118	28	by	by	ADP
ajfa-4025	118	29	market	market	NOUN
ajfa-4025	118	30	equity	equity	NOUN
ajfa-4025	118	31	-	-	PUNCT
ajfa-4025	118	32	bloomberg	bloomberg	PROPN
ajfa-4025	118	33	mel	mel	PROPN
ajfa-4025	118	34	market	market	PROPN
ajfa-4025	118	35	equity	equity	PROPN
ajfa-4025	118	36	(	(	PUNCT
ajfa-4025	118	37	low	low	PROPN
ajfa-4025	118	38	)	)	PUNCT
ajfa-4025	118	39	the	the	DET
ajfa-4025	118	40	lowest	low	ADJ
ajfa-4025	118	41	33.33	33.33	NUM
ajfa-4025	118	42	%	%	NOUN
ajfa-4025	118	43	of	of	ADP
ajfa-4025	118	44	stock	stock	NOUN
ajfa-4025	118	45	sort	sort	NOUN
ajfa-4025	118	46	by	by	ADP
ajfa-4025	118	47	market	market	NOUN
ajfa-4025	118	48	equity	equity	NOUN
ajfa-4025	118	49	bloomberg	bloomberg	PROPN
ajfa-4025	118	50	bml	bml	PROPN
ajfa-4025	118	51	book	book	PROPN
ajfa-4025	118	52	-	-	PUNCT
ajfa-4025	118	53	to	to	ADP
ajfa-4025	118	54	-	-	PUNCT
ajfa-4025	118	55	market	market	NOUN
ajfa-4025	118	56	(	(	PUNCT
ajfa-4025	118	57	low	low	ADJ
ajfa-4025	118	58	)	)	PUNCT
ajfa-4025	118	59	the	the	DET
ajfa-4025	118	60	lowest	low	ADJ
ajfa-4025	118	61	33	33	NUM
ajfa-4025	118	62	%	%	NOUN
ajfa-4025	118	63	of	of	ADP
ajfa-4025	118	64	stock	stock	NOUN
ajfa-4025	118	65	sort	sort	NOUN
ajfa-4025	118	66	by	by	ADP
ajfa-4025	118	67	book	book	NOUN
ajfa-4025	118	68	-	-	PUNCT
ajfa-4025	118	69	to	to	ADP
ajfa-4025	118	70	-	-	PUNCT
ajfa-4025	118	71	market	market	NOUN
ajfa-4025	118	72	ratio	ratio	NOUN
ajfa-4025	118	73	–	–	PUNCT
ajfa-4025	118	74	bloomberg	bloomberg	PROPN
ajfa-4025	118	75	bmm	bmm	PROPN
ajfa-4025	118	76	book	book	NOUN
ajfa-4025	118	77	-	-	PUNCT
ajfa-4025	118	78	to	to	ADP
ajfa-4025	118	79	-	-	PUNCT
ajfa-4025	118	80	market	market	NOUN
ajfa-4025	118	81	(	(	PUNCT
ajfa-4025	118	82	medium	medium	NOUN
ajfa-4025	118	83	)	)	PUNCT
ajfa-4025	118	84	the	the	DET
ajfa-4025	118	85	medium	medium	ADJ
ajfa-4025	118	86	range	range	NOUN
ajfa-4025	118	87	33.33	33.33	NUM
ajfa-4025	118	88	%	%	NOUN
ajfa-4025	118	89	to	to	ADP
ajfa-4025	118	90	66.66	66.66	NUM
ajfa-4025	118	91	%	%	NOUN
ajfa-4025	118	92	of	of	ADP
ajfa-4025	118	93	stock	stock	NOUN
ajfa-4025	118	94	sort	sort	NOUN
ajfa-4025	118	95	by	by	ADP
ajfa-4025	118	96	book	book	NOUN
ajfa-4025	118	97	-	-	PUNCT
ajfa-4025	118	98	to	to	ADP
ajfa-4025	118	99	-	-	PUNCT
ajfa-4025	118	100	market	market	NOUN
ajfa-4025	118	101	ratio	ratio	NOUN
ajfa-4025	118	102	–	–	PUNCT
ajfa-4025	118	103	bloomberg	bloomberg	PROPN
ajfa-4025	118	104	bmh	bmh	PROPN
ajfa-4025	118	105	book	book	NOUN
ajfa-4025	118	106	-	-	PUNCT
ajfa-4025	118	107	to	to	ADP
ajfa-4025	118	108	-	-	PUNCT
ajfa-4025	118	109	market	market	NOUN
ajfa-4025	118	110	(	(	PUNCT
ajfa-4025	118	111	high	high	ADJ
ajfa-4025	118	112	)	)	PUNCT
ajfa-4025	118	113	book	book	NOUN
ajfa-4025	118	114	equity	equity	NOUN
ajfa-4025	118	115	at	at	ADP
ajfa-4025	118	116	the	the	DET
ajfa-4025	118	117	end	end	NOUN
ajfa-4025	118	118	of	of	ADP
ajfa-4025	118	119	fiscal	fiscal	ADJ
ajfa-4025	118	120	year	year	NOUN
ajfa-4025	118	121	t-1	t-1	PROPN
ajfa-4025	118	122	divided	divide	VERB
ajfa-4025	118	123	by	by	ADP
ajfa-4025	118	124	market	market	NOUN
ajfa-4025	118	125	equity	equity	NOUN
ajfa-4025	118	126	at	at	ADP
ajfa-4025	118	127	the	the	DET
ajfa-4025	118	128	end	end	NOUN
ajfa-4025	118	129	of	of	ADP
ajfa-4025	118	130	fiscal	fiscal	ADJ
ajfa-4025	118	131	year	year	NOUN
ajfa-4025	118	132	t-1	t-1	PROPN
ajfa-4025	118	133	.	.	PUNCT
ajfa-4025	119	1	the	the	DET
ajfa-4025	119	2	highest	high	ADJ
ajfa-4025	119	3	66	66	NUM
ajfa-4025	119	4	%	%	NOUN
ajfa-4025	119	5	to	to	PART
ajfa-4025	119	6	100	100	NUM
ajfa-4025	119	7	%	%	NOUN
ajfa-4025	119	8	of	of	ADP
ajfa-4025	119	9	stock	stock	NOUN
ajfa-4025	119	10	sort	sort	NOUN
ajfa-4025	119	11	by	by	ADP
ajfa-4025	119	12	book	book	NOUN
ajfa-4025	119	13	-	-	PUNCT
ajfa-4025	119	14	to	to	ADP
ajfa-4025	119	15	-	-	PUNCT
ajfa-4025	119	16	market	market	NOUN
ajfa-4025	119	17	ratio	ratio	NOUN
ajfa-4025	119	18	-	-	PUNCT
ajfa-4025	119	19	bloomberg	bloomberg	PROPN
ajfa-4025	119	20	source	source	NOUN
ajfa-4025	119	21	:	:	PUNCT
ajfa-4025	119	22	ifs	ifs	PROPN
ajfa-4025	119	23	imf	imf	PROPN
ajfa-4025	119	24	international	international	PROPN
ajfa-4025	119	25	financial	financial	PROPN
ajfa-4025	119	26	statistic	statistic	NOUN
ajfa-4025	119	27	,	,	PUNCT
ajfa-4025	119	28	ceic	ceic	PROPN
ajfa-4025	119	29	&	&	CCONJ
ajfa-4025	119	30	opec	opec	PROPN
ajfa-4025	119	31	organisation	organisation	NOUN
ajfa-4025	119	32	of	of	ADP
ajfa-4025	119	33	the	the	DET
ajfa-4025	119	34	petroleum	petroleum	NOUN
ajfa-4025	119	35	exporting	export	VERB
ajfa-4025	119	36	countries	country	NOUN
ajfa-4025	119	37	,	,	PUNCT
ajfa-4025	119	38	bloomberg	bloomberg	PROPN
ajfa-4025	119	39	.	.	PUNCT
ajfa-4025	120	1	all	all	DET
ajfa-4025	120	2	variables	variable	NOUN
ajfa-4025	120	3	are	be	AUX
ajfa-4025	120	4	converted	convert	VERB
ajfa-4025	120	5	into	into	ADP
ajfa-4025	120	6	logarithm	logarithm	NOUN
ajfa-4025	120	7	and	and	CCONJ
ajfa-4025	120	8	∆	∆	PROPN
ajfa-4025	120	9	denotes	denote	VERB
ajfa-4025	120	10	the	the	DET
ajfa-4025	120	11	first	first	ADJ
ajfa-4025	120	12	difference	difference	NOUN
ajfa-4025	120	13	for	for	ADP
ajfa-4025	120	14	the	the	DET
ajfa-4025	120	15	variables	variable	NOUN
ajfa-4025	120	16	.	.	PUNCT
ajfa-4025	121	1	*	*	PUNCT
ajfa-4025	121	2	long	long	ADJ
ajfa-4025	121	3	-	-	PUNCT
ajfa-4025	121	4	term	term	NOUN
ajfa-4025	121	5	and	and	CCONJ
ajfa-4025	121	6	short	short	ADJ
ajfa-4025	121	7	-	-	PUNCT
ajfa-4025	121	8	term	term	NOUN
ajfa-4025	121	9	interest	interest	NOUN
ajfa-4025	121	10	rate	rate	NOUN
ajfa-4025	121	11	for	for	ADP
ajfa-4025	121	12	indonesia	indonesia	PROPN
ajfa-4025	121	13	is	be	AUX
ajfa-4025	121	14	obtained	obtain	VERB
ajfa-4025	121	15	from	from	ADP
ajfa-4025	121	16	ceic	ceic	VERB
ajfa-4025	121	17	the	the	DET
ajfa-4025	121	18	numbers	number	NOUN
ajfa-4025	121	19	of	of	ADP
ajfa-4025	121	20	stocks	stock	NOUN
ajfa-4025	121	21	for	for	ADP
ajfa-4025	121	22	each	each	DET
ajfa-4025	121	23	country	country	NOUN
ajfa-4025	121	24	that	that	PRON
ajfa-4025	121	25	meet	meet	VERB
ajfa-4025	121	26	the	the	DET
ajfa-4025	121	27	criteria	criterion	NOUN
ajfa-4025	121	28	for	for	ADP
ajfa-4025	121	29	stock	stock	NOUN
ajfa-4025	121	30	selection	selection	NOUN
ajfa-4025	121	31	,	,	PUNCT
ajfa-4025	121	32	and	and	CCONJ
ajfa-4025	121	33	which	which	PRON
ajfa-4025	121	34	are	be	AUX
ajfa-4025	121	35	distributed	distribute	VERB
ajfa-4025	121	36	into	into	ADP
ajfa-4025	121	37	high	high	ADJ
ajfa-4025	121	38	,	,	PUNCT
ajfa-4025	121	39	medium	medium	ADJ
ajfa-4025	121	40	and	and	CCONJ
ajfa-4025	121	41	low	low	ADJ
ajfa-4025	121	42	portfolios	portfolio	NOUN
ajfa-4025	121	43	,	,	PUNCT
ajfa-4025	121	44	are	be	AUX
ajfa-4025	121	45	shown	show	VERB
ajfa-4025	121	46	in	in	ADP
ajfa-4025	121	47	the	the	DET
ajfa-4025	121	48	following	follow	VERB
ajfa-4025	121	49	table	table	NOUN
ajfa-4025	121	50	3	3	NUM
ajfa-4025	121	51	.	.	PUNCT
ajfa-4025	121	52	asian	asian	ADJ
ajfa-4025	121	53	journal	journal	PROPN
ajfa-4025	121	54	of	of	ADP
ajfa-4025	121	55	finance	finance	PROPN
ajfa-4025	121	56	&	&	CCONJ
ajfa-4025	121	57	accounting	accounting	PROPN
ajfa-4025	121	58	issn	issn	PROPN
ajfa-4025	121	59	1946	1946	NUM
ajfa-4025	121	60	-	-	PUNCT
ajfa-4025	121	61	052x	052x	NOUN
ajfa-4025	121	62	2013	2013	NUM
ajfa-4025	121	63	,	,	PUNCT
ajfa-4025	121	64	vol	vol	NOUN
ajfa-4025	121	65	.	.	PROPN
ajfa-4025	121	66	5	5	NUM
ajfa-4025	121	67	,	,	PUNCT
ajfa-4025	121	68	no	no	INTJ
ajfa-4025	121	69	.	.	NOUN
ajfa-4025	121	70	2	2	NUM
ajfa-4025	121	71	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	121	72	168	168	NUM
ajfa-4025	121	73	table	table	NOUN
ajfa-4025	121	74	3	3	NUM
ajfa-4025	121	75	.	.	X
ajfa-4025	121	76	number	number	NOUN
ajfa-4025	121	77	of	of	ADP
ajfa-4025	121	78	eligible	eligible	ADJ
ajfa-4025	121	79	firms	firm	NOUN
ajfa-4025	121	80	for	for	ADP
ajfa-4025	121	81	each	each	DET
ajfa-4025	121	82	country	country	NOUN
ajfa-4025	121	83	over	over	ADP
ajfa-4025	121	84	the	the	DET
ajfa-4025	121	85	sample	sample	NOUN
ajfa-4025	121	86	period	period	NOUN
ajfa-4025	121	87	country	country	NOUN
ajfa-4025	121	88	number	number	NOUN
ajfa-4025	121	89	of	of	ADP
ajfa-4025	121	90	firms	firm	NOUN
ajfa-4025	121	91	distribution	distribution	NOUN
ajfa-4025	121	92	number	number	NOUN
ajfa-4025	121	93	of	of	ADP
ajfa-4025	121	94	firms	firm	NOUN
ajfa-4025	121	95	into	into	ADP
ajfa-4025	121	96	high	high	ADJ
ajfa-4025	121	97	,	,	PUNCT
ajfa-4025	121	98	medium	medium	ADJ
ajfa-4025	121	99	and	and	CCONJ
ajfa-4025	121	100	low	low	ADJ
ajfa-4025	121	101	portfolio	portfolio	NOUN
ajfa-4025	121	102	malaysia	malaysia	PROPN
ajfa-4025	121	103	222	222	NUM
ajfa-4025	121	104	high	high	ADJ
ajfa-4025	121	105	–	–	PUNCT
ajfa-4025	121	106	74	74	NUM
ajfa-4025	121	107	,	,	PUNCT
ajfa-4025	121	108	medium	medium	ADJ
ajfa-4025	121	109	–	–	PUNCT
ajfa-4025	121	110	74	74	NUM
ajfa-4025	121	111	,	,	PUNCT
ajfa-4025	121	112	low	low	ADJ
ajfa-4025	121	113	–	–	PUNCT
ajfa-4025	121	114	74	74	NUM
ajfa-4025	121	115	indonesia	indonesia	PROPN
ajfa-4025	121	116	57	57	NUM
ajfa-4025	121	117	high	high	ADJ
ajfa-4025	121	118	–	–	PUNCT
ajfa-4025	121	119	19	19	NUM
ajfa-4025	121	120	,	,	PUNCT
ajfa-4025	121	121	medium	medium	ADJ
ajfa-4025	121	122	–	–	PUNCT
ajfa-4025	121	123	19	19	NUM
ajfa-4025	121	124	,	,	PUNCT
ajfa-4025	121	125	low	low	ADJ
ajfa-4025	121	126	–	–	PUNCT
ajfa-4025	121	127	19	19	NUM
ajfa-4025	121	128	singapore	singapore	NOUN
ajfa-4025	121	129	111	111	NUM
ajfa-4025	121	130	high	high	ADJ
ajfa-4025	121	131	–	–	PUNCT
ajfa-4025	121	132	37	37	NUM
ajfa-4025	121	133	,	,	PUNCT
ajfa-4025	121	134	medium	medium	NOUN
ajfa-4025	121	135	–	–	PUNCT
ajfa-4025	121	136	37	37	NUM
ajfa-4025	121	137	,	,	PUNCT
ajfa-4025	121	138	low	low	ADJ
ajfa-4025	121	139	–	–	PUNCT
ajfa-4025	121	140	37	37	NUM
ajfa-4025	121	141	thailand	thailand	NOUN
ajfa-4025	121	142	123	123	NUM
ajfa-4025	121	143	high	high	ADJ
ajfa-4025	121	144	–	–	PUNCT
ajfa-4025	121	145	41	41	NUM
ajfa-4025	121	146	,	,	PUNCT
ajfa-4025	121	147	medium	medium	ADJ
ajfa-4025	121	148	–	–	PUNCT
ajfa-4025	121	149	41	41	NUM
ajfa-4025	121	150	,	,	PUNCT
ajfa-4025	121	151	low	low	ADJ
ajfa-4025	121	152	–	–	PUNCT
ajfa-4025	121	153	41	41	NUM
ajfa-4025	122	1	the	the	DET
ajfa-4025	122	2	economic	economic	ADJ
ajfa-4025	122	3	variables	variable	NOUN
ajfa-4025	122	4	are	be	AUX
ajfa-4025	122	5	transformed	transform	VERB
ajfa-4025	122	6	into	into	ADP
ajfa-4025	122	7	natural	natural	ADJ
ajfa-4025	122	8	logarithms	logarithm	NOUN
ajfa-4025	122	9	and	and	CCONJ
ajfa-4025	122	10	their	their	PRON
ajfa-4025	122	11	first	first	ADJ
ajfa-4025	122	12	differences	difference	NOUN
ajfa-4025	122	13	to	to	PART
ajfa-4025	122	14	achieve	achieve	VERB
ajfa-4025	122	15	stationary	stationary	NOUN
ajfa-4025	122	16	in	in	ADP
ajfa-4025	122	17	data	datum	NOUN
ajfa-4025	122	18	to	to	PART
ajfa-4025	122	19	prevent	prevent	VERB
ajfa-4025	122	20	spurious	spurious	ADJ
ajfa-4025	122	21	regression	regression	NOUN
ajfa-4025	122	22	(	(	PUNCT
ajfa-4025	122	23	mukherjee	mukherjee	PROPN
ajfa-4025	122	24	&	&	CCONJ
ajfa-4025	122	25	naka	naka	PROPN
ajfa-4025	122	26	,	,	PUNCT
ajfa-4025	122	27	1995	1995	NUM
ajfa-4025	122	28	;	;	PUNCT
ajfa-4025	122	29	maysami	maysami	PROPN
ajfa-4025	122	30	&	&	CCONJ
ajfa-4025	122	31	koh	koh	PROPN
ajfa-4025	122	32	,	,	PUNCT
ajfa-4025	122	33	2004	2004	NUM
ajfa-4025	122	34	)	)	PUNCT
ajfa-4025	122	35	.	.	PUNCT
ajfa-4025	123	1	moreover	moreover	ADV
ajfa-4025	123	2	,	,	PUNCT
ajfa-4025	123	3	a	a	DET
ajfa-4025	123	4	natural	natural	ADJ
ajfa-4025	123	5	logarithm	logarithm	NOUN
ajfa-4025	123	6	helps	help	VERB
ajfa-4025	123	7	in	in	ADP
ajfa-4025	123	8	reducing	reduce	VERB
ajfa-4025	123	9	the	the	DET
ajfa-4025	123	10	heteroscedasticity	heteroscedasticity	NOUN
ajfa-4025	123	11	in	in	ADP
ajfa-4025	123	12	the	the	DET
ajfa-4025	123	13	model	model	NOUN
ajfa-4025	123	14	.	.	PUNCT
ajfa-4025	124	1	using	use	VERB
ajfa-4025	124	2	the	the	DET
ajfa-4025	124	3	state	state	NOUN
ajfa-4025	124	4	variable	variable	NOUN
ajfa-4025	124	5	as	as	SCONJ
ajfa-4025	124	6	derived	derive	VERB
ajfa-4025	124	7	above	above	ADV
ajfa-4025	124	8	,	,	PUNCT
ajfa-4025	124	9	the	the	DET
ajfa-4025	124	10	stock	stock	NOUN
ajfa-4025	124	11	portfolio	portfolio	NOUN
ajfa-4025	124	12	return	return	NOUN
ajfa-4025	124	13	model	model	NOUN
ajfa-4025	124	14	can	can	AUX
ajfa-4025	124	15	be	be	AUX
ajfa-4025	124	16	formed	form	VERB
ajfa-4025	124	17	as	as	SCONJ
ajfa-4025	124	18	follows	follow	VERB
ajfa-4025	124	19	:	:	PUNCT
ajfa-4025	124	20	equation	equation	NOUN
ajfa-4025	124	21	2	2	NUM
ajfa-4025	124	22	where	where	SCONJ
ajfa-4025	124	23	the	the	DET
ajfa-4025	124	24	betas	beta	NOUN
ajfa-4025	124	25	(	(	PUNCT
ajfa-4025	124	26	are	be	AUX
ajfa-4025	124	27	the	the	DET
ajfa-4025	124	28	loading	loading	NOUN
ajfa-4025	124	29	coefficient	coefficient	NOUN
ajfa-4025	124	30	for	for	ADP
ajfa-4025	124	31	the	the	DET
ajfa-4025	124	32	state	state	NOUN
ajfa-4025	124	33	variables	variable	NOUN
ajfa-4025	124	34	,	,	PUNCT
ajfa-4025	124	35	e	e	PRON
ajfa-4025	124	36	represents	represent	VERB
ajfa-4025	124	37	the	the	DET
ajfa-4025	124	38	stock	stock	NOUN
ajfa-4025	124	39	portfolio	portfolio	NOUN
ajfa-4025	124	40	return	return	NOUN
ajfa-4025	124	41	,	,	PUNCT
ajfa-4025	124	42	represents	represent	VERB
ajfa-4025	124	43	the	the	DET
ajfa-4025	124	44	constant	constant	ADJ
ajfa-4025	124	45	term	term	NOUN
ajfa-4025	124	46	and	and	CCONJ
ajfa-4025	124	47	e	e	NOUN
ajfa-4025	124	48	represents	represent	VERB
ajfa-4025	124	49	the	the	DET
ajfa-4025	124	50	error	error	NOUN
ajfa-4025	124	51	term	term	NOUN
ajfa-4025	124	52	.	.	PUNCT
ajfa-4025	125	1	in	in	ADP
ajfa-4025	125	2	order	order	NOUN
ajfa-4025	125	3	to	to	PART
ajfa-4025	125	4	estimate	estimate	VERB
ajfa-4025	125	5	the	the	DET
ajfa-4025	125	6	regression	regression	NOUN
ajfa-4025	125	7	models	model	NOUN
ajfa-4025	125	8	stated	state	VERB
ajfa-4025	125	9	above	above	ADV
ajfa-4025	125	10	,	,	PUNCT
ajfa-4025	125	11	stationarity	stationarity	NOUN
ajfa-4025	125	12	of	of	ADP
ajfa-4025	125	13	the	the	DET
ajfa-4025	125	14	series	series	NOUN
ajfa-4025	125	15	should	should	AUX
ajfa-4025	125	16	be	be	AUX
ajfa-4025	125	17	examined	examine	VERB
ajfa-4025	125	18	.	.	PUNCT
ajfa-4025	126	1	in	in	ADP
ajfa-4025	126	2	this	this	DET
ajfa-4025	126	3	study	study	NOUN
ajfa-4025	126	4	,	,	PUNCT
ajfa-4025	126	5	augmented	augment	VERB
ajfa-4025	126	6	dickey	dickey	NOUN
ajfa-4025	126	7	-	-	PUNCT
ajfa-4025	126	8	fuller	full	ADJ
ajfa-4025	126	9	(	(	PUNCT
ajfa-4025	126	10	adf	adf	NOUN
ajfa-4025	126	11	)	)	PUNCT
ajfa-4025	126	12	(	(	PUNCT
ajfa-4025	126	13	dickey	dickey	NOUN
ajfa-4025	126	14	and	and	CCONJ
ajfa-4025	126	15	fuller	full	ADJ
ajfa-4025	126	16	,	,	PUNCT
ajfa-4025	126	17	1979	1979	NUM
ajfa-4025	126	18	)	)	PUNCT
ajfa-4025	126	19	test	test	NOUN
ajfa-4025	126	20	is	be	AUX
ajfa-4025	126	21	used	use	VERB
ajfa-4025	126	22	for	for	ADP
ajfa-4025	126	23	testing	test	VERB
ajfa-4025	126	24	the	the	DET
ajfa-4025	126	25	presence	presence	NOUN
ajfa-4025	126	26	of	of	ADP
ajfa-4025	126	27	unit	unit	NOUN
ajfa-4025	126	28	roots	root	NOUN
ajfa-4025	126	29	.	.	PUNCT
ajfa-4025	127	1	two	two	NUM
ajfa-4025	127	2	assumptions	assumption	NOUN
ajfa-4025	127	3	should	should	AUX
ajfa-4025	127	4	be	be	AUX
ajfa-4025	127	5	checked	check	VERB
ajfa-4025	127	6	when	when	SCONJ
ajfa-4025	127	7	estimating	estimate	VERB
ajfa-4025	127	8	a	a	DET
ajfa-4025	127	9	regression	regression	NOUN
ajfa-4025	127	10	model	model	NOUN
ajfa-4025	127	11	.	.	PUNCT
ajfa-4025	128	1	these	these	DET
ajfa-4025	128	2	assumptions	assumption	NOUN
ajfa-4025	128	3	are	be	AUX
ajfa-4025	128	4	independency	independency	NOUN
ajfa-4025	128	5	and	and	CCONJ
ajfa-4025	128	6	homoscedasticity	homoscedasticity	NOUN
ajfa-4025	128	7	of	of	ADP
ajfa-4025	128	8	residual	residual	ADJ
ajfa-4025	128	9	errors	error	NOUN
ajfa-4025	128	10	.	.	PUNCT
ajfa-4025	129	1	existence	existence	NOUN
ajfa-4025	129	2	of	of	ADP
ajfa-4025	129	3	serial	serial	ADJ
ajfa-4025	129	4	correlation	correlation	NOUN
ajfa-4025	129	5	is	be	AUX
ajfa-4025	129	6	checked	check	VERB
ajfa-4025	129	7	by	by	ADP
ajfa-4025	129	8	breusch	breusch	NOUN
ajfa-4025	129	9	-	-	PUNCT
ajfa-4025	129	10	godfrey	godfrey	NOUN
ajfa-4025	129	11	langrange	langrange	NOUN
ajfa-4025	129	12	multiplier	multipli	ADJ
ajfa-4025	129	13	test	test	NOUN
ajfa-4025	129	14	(	(	PUNCT
ajfa-4025	129	15	breusch	breusch	PROPN
ajfa-4025	129	16	,	,	PUNCT
ajfa-4025	129	17	1978	1978	NUM
ajfa-4025	129	18	;	;	PUNCT
ajfa-4025	129	19	godfrey	godfrey	PROPN
ajfa-4025	129	20	,	,	PUNCT
ajfa-4025	129	21	1978	1978	NUM
ajfa-4025	129	22	)	)	PUNCT
ajfa-4025	129	23	.	.	PUNCT
ajfa-4025	130	1	presence	presence	NOUN
ajfa-4025	130	2	of	of	ADP
ajfa-4025	130	3	heteroscedasticity	heteroscedasticity	NOUN
ajfa-4025	130	4	is	be	AUX
ajfa-4025	130	5	tested	test	VERB
ajfa-4025	130	6	by	by	ADP
ajfa-4025	130	7	white	white	PROPN
ajfa-4025	130	8	general	general	PROPN
ajfa-4025	130	9	heteroscedasticity	heteroscedasticity	PROPN
ajfa-4025	130	10	test	test	NOUN
ajfa-4025	130	11	(	(	PUNCT
ajfa-4025	130	12	white	white	ADJ
ajfa-4025	130	13	,	,	PUNCT
ajfa-4025	130	14	1980	1980	NUM
ajfa-4025	130	15	)	)	PUNCT
ajfa-4025	130	16	.	.	PUNCT
ajfa-4025	131	1	the	the	DET
ajfa-4025	131	2	regressions	regression	NOUN
ajfa-4025	131	3	are	be	AUX
ajfa-4025	131	4	performed	perform	VERB
ajfa-4025	131	5	by	by	ADP
ajfa-4025	131	6	ordinary	ordinary	ADJ
ajfa-4025	131	7	least	least	ADJ
ajfa-4025	131	8	squares	square	NOUN
ajfa-4025	131	9	(	(	PUNCT
ajfa-4025	131	10	ols	ol	NOUN
ajfa-4025	131	11	)	)	PUNCT
ajfa-4025	131	12	method	method	NOUN
ajfa-4025	131	13	.	.	PUNCT
ajfa-4025	132	1	4	4	X
ajfa-4025	132	2	.	.	X
ajfa-4025	132	3	empirical	empirical	ADJ
ajfa-4025	132	4	results	result	NOUN
ajfa-4025	132	5	first	first	ADV
ajfa-4025	132	6	we	we	PRON
ajfa-4025	132	7	examined	examine	VERB
ajfa-4025	132	8	the	the	DET
ajfa-4025	132	9	descriptive	descriptive	ADJ
ajfa-4025	132	10	statistics	statistic	NOUN
ajfa-4025	132	11	for	for	ADP
ajfa-4025	132	12	each	each	DET
ajfa-4025	132	13	variable	variable	NOUN
ajfa-4025	132	14	and	and	CCONJ
ajfa-4025	132	15	portfolio	portfolio	NOUN
ajfa-4025	132	16	in	in	ADP
ajfa-4025	132	17	all	all	DET
ajfa-4025	132	18	given	give	VERB
ajfa-4025	132	19	countries	country	NOUN
ajfa-4025	132	20	.	.	PUNCT
ajfa-4025	133	1	each	each	DET
ajfa-4025	133	2	country	country	NOUN
ajfa-4025	133	3	summary	summary	NOUN
ajfa-4025	133	4	statistics	statistic	NOUN
ajfa-4025	133	5	are	be	AUX
ajfa-4025	133	6	divided	divide	VERB
ajfa-4025	133	7	into	into	ADP
ajfa-4025	133	8	two	two	NUM
ajfa-4025	133	9	sub	sub	NOUN
ajfa-4025	133	10	-	-	ADJ
ajfa-4025	133	11	periods	period	NOUN
ajfa-4025	133	12	,	,	PUNCT
ajfa-4025	133	13	pre	pre	ADJ
ajfa-4025	133	14	-	-	ADJ
ajfa-4025	133	15	crisis	crisis	ADJ
ajfa-4025	133	16	period	period	NOUN
ajfa-4025	133	17	(	(	PUNCT
ajfa-4025	133	18	from	from	ADP
ajfa-4025	133	19	july	july	PROPN
ajfa-4025	133	20	2003	2003	NUM
ajfa-4025	133	21	to	to	ADP
ajfa-4025	133	22	june	june	PROPN
ajfa-4025	133	23	2007	2007	NUM
ajfa-4025	133	24	)	)	PUNCT
ajfa-4025	133	25	as	as	ADP
ajfa-4025	133	26	sub	sub	NOUN
ajfa-4025	133	27	-	-	NOUN
ajfa-4025	133	28	period	period	NOUN
ajfa-4025	133	29	a	a	PRON
ajfa-4025	133	30	and	and	CCONJ
ajfa-4025	133	31	during	during	ADP
ajfa-4025	133	32	and	and	CCONJ
ajfa-4025	133	33	after	after	ADP
ajfa-4025	133	34	the	the	DET
ajfa-4025	133	35	crisis	crisis	NOUN
ajfa-4025	133	36	period	period	NOUN
ajfa-4025	133	37	(	(	PUNCT
ajfa-4025	133	38	from	from	ADP
ajfa-4025	133	39	july	july	PROPN
ajfa-4025	133	40	2007	2007	NUM
ajfa-4025	133	41	to	to	ADP
ajfa-4025	133	42	june	june	PROPN
ajfa-4025	133	43	2011	2011	NUM
ajfa-4025	133	44	)	)	PUNCT
ajfa-4025	133	45	as	as	ADP
ajfa-4025	133	46	sub	sub	NOUN
ajfa-4025	133	47	-	-	NOUN
ajfa-4025	133	48	period	period	ADJ
ajfa-4025	133	49	b.	b.	PROPN
ajfa-4025	133	50	asian	asian	PROPN
ajfa-4025	133	51	journal	journal	PROPN
ajfa-4025	133	52	of	of	ADP
ajfa-4025	133	53	finance	finance	PROPN
ajfa-4025	133	54	&	&	CCONJ
ajfa-4025	133	55	accounting	accounting	PROPN
ajfa-4025	133	56	issn	issn	PROPN
ajfa-4025	133	57	1946	1946	NUM
ajfa-4025	133	58	-	-	PUNCT
ajfa-4025	133	59	052x	052x	NOUN
ajfa-4025	133	60	2013	2013	NUM
ajfa-4025	133	61	,	,	PUNCT
ajfa-4025	133	62	vol	vol	NOUN
ajfa-4025	133	63	.	.	PROPN
ajfa-4025	133	64	5	5	NUM
ajfa-4025	133	65	,	,	PUNCT
ajfa-4025	133	66	no	no	INTJ
ajfa-4025	133	67	.	.	NOUN
ajfa-4025	133	68	2	2	NUM
ajfa-4025	133	69	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	133	70	169	169	NUM
ajfa-4025	133	71	table	table	NOUN
ajfa-4025	133	72	4	4	NUM
ajfa-4025	133	73	.	.	PUNCT
ajfa-4025	133	74	descriptive	descriptive	ADJ
ajfa-4025	133	75	statistics	statistic	NOUN
ajfa-4025	133	76	for	for	ADP
ajfa-4025	133	77	malaysia	malaysia	PROPN
ajfa-4025	133	78	,	,	PUNCT
ajfa-4025	133	79	indonesia	indonesia	PROPN
ajfa-4025	133	80	,	,	PUNCT
ajfa-4025	133	81	singapore	singapore	PROPN
ajfa-4025	133	82	&	&	CCONJ
ajfa-4025	133	83	thailand	thailand	PROPN
ajfa-4025	134	1	malaysia	malaysia	PROPN
ajfa-4025	134	2	indonesia	indonesia	PROPN
ajfa-4025	134	3	sub	sub	PROPN
ajfa-4025	134	4	-	-	NOUN
ajfa-4025	134	5	period	period	NOUN
ajfa-4025	134	6	a	a	DET
ajfa-4025	134	7	july	july	NOUN
ajfa-4025	134	8	2003	2003	NUM
ajfa-4025	134	9	to	to	ADP
ajfa-4025	134	10	june	june	PROPN
ajfa-4025	134	11	2007	2007	NUM
ajfa-4025	134	12	)	)	PUNCT
ajfa-4025	134	13	sub	sub	NOUN
ajfa-4025	134	14	-	-	NOUN
ajfa-4025	134	15	period	period	NOUN
ajfa-4025	134	16	b	b	PROPN
ajfa-4025	134	17	july	july	PROPN
ajfa-4025	134	18	2007	2007	NUM
ajfa-4025	134	19	to	to	ADP
ajfa-4025	134	20	june	june	PROPN
ajfa-4025	134	21	2011	2011	NUM
ajfa-4025	134	22	)	)	PUNCT
ajfa-4025	134	23	sub	sub	NOUN
ajfa-4025	134	24	-	-	NOUN
ajfa-4025	134	25	period	period	NOUN
ajfa-4025	134	26	a	a	DET
ajfa-4025	134	27	july	july	NOUN
ajfa-4025	134	28	2003	2003	NUM
ajfa-4025	134	29	to	to	ADP
ajfa-4025	134	30	june	june	PROPN
ajfa-4025	134	31	2007	2007	NUM
ajfa-4025	134	32	)	)	PUNCT
ajfa-4025	134	33	sub	sub	NOUN
ajfa-4025	134	34	-	-	NOUN
ajfa-4025	134	35	period	period	NOUN
ajfa-4025	134	36	b	b	PROPN
ajfa-4025	134	37	july	july	PROPN
ajfa-4025	134	38	2007	2007	NUM
ajfa-4025	134	39	to	to	ADP
ajfa-4025	134	40	june	june	PROPN
ajfa-4025	134	41	2011	2011	NUM
ajfa-4025	134	42	)	)	PUNCT
ajfa-4025	134	43	n	n	CCONJ
ajfa-4025	134	44	mean	mean	VERB
ajfa-4025	134	45	std	std	X
ajfa-4025	134	46	.	.	PUNCT
ajfa-4025	135	1	deviation	deviation	NOUN
ajfa-4025	135	2	n	n	NOUN
ajfa-4025	135	3	mean	mean	VERB
ajfa-4025	135	4	std	std	NOUN
ajfa-4025	135	5	.	.	PUNCT
ajfa-4025	136	1	deviation	deviation	NOUN
ajfa-4025	136	2	n	n	NOUN
ajfa-4025	136	3	mean	mean	VERB
ajfa-4025	136	4	std	std	NOUN
ajfa-4025	136	5	.	.	PUNCT
ajfa-4025	137	1	deviation	deviation	NOUN
ajfa-4025	137	2	n	n	NOUN
ajfa-4025	137	3	mean	mean	VERB
ajfa-4025	137	4	std	std	NOUN
ajfa-4025	137	5	.	.	PUNCT
ajfa-4025	138	1	deviation	deviation	NOUN
ajfa-4025	138	2	∆inf	∆inf	NOUN
ajfa-4025	138	3	48	48	NUM
ajfa-4025	138	4	0.0020	0.0020	NUM
ajfa-4025	138	5	0.0030	0.0030	NUM
ajfa-4025	138	6	∆inf	∆inf	ADJ
ajfa-4025	138	7	48	48	NUM
ajfa-4025	138	8	0.0023	0.0023	NUM
ajfa-4025	138	9	0.0065	0.0065	NUM
ajfa-4025	138	10	∆inf	∆inf	ADJ
ajfa-4025	138	11	48	48	NUM
ajfa-4025	138	12	0.0072	0.0072	NUM
ajfa-4025	138	13	0.0121	0.0121	NUM
ajfa-4025	138	14	∆inf	∆inf	ADJ
ajfa-4025	138	15	48	48	NUM
ajfa-4025	138	16	0.0051	0.0051	NUM
ajfa-4025	138	17	0.0054	0.0054	NUM
ajfa-4025	138	18	∆ipi	∆ipi	ADP
ajfa-4025	138	19	48	48	NUM
ajfa-4025	138	20	0.0055	0.0055	NUM
ajfa-4025	138	21	0.0505	0.0505	NUM
ajfa-4025	138	22	∆ipi	∆ipi	ADP
ajfa-4025	138	23	48	48	NUM
ajfa-4025	138	24	0.0005	0.0005	NUM
ajfa-4025	138	25	0.0492	0.0492	NUM
ajfa-4025	138	26	∆ipi	∆ipi	ADP
ajfa-4025	138	27	48	48	NUM
ajfa-4025	138	28	0.0015	0.0015	NUM
ajfa-4025	138	29	0.0680	0.0680	NUM
ajfa-4025	138	30	∆ipi	∆ipi	ADP
ajfa-4025	138	31	48	48	NUM
ajfa-4025	138	32	0.0026	0.0026	NUM
ajfa-4025	138	33	0.0273	0.0273	NUM
ajfa-4025	138	34	∆ts	∆ts	NOUN
ajfa-4025	138	35	48	48	NUM
ajfa-4025	138	36	-0.0090	-0.0090	NOUN
ajfa-4025	138	37	0.3237	0.3237	NUM
ajfa-4025	138	38	∆ts	∆ts	NOUN
ajfa-4025	138	39	48	48	NUM
ajfa-4025	138	40	0.0144	0.0144	NUM
ajfa-4025	138	41	0.2315	0.2315	NUM
ajfa-4025	138	42	∆ts	∆ts	NOUN
ajfa-4025	138	43	48	48	NUM
ajfa-4025	138	44	-0.0275	-0.0275	NOUN
ajfa-4025	138	45	0.4414	0.4414	NUM
ajfa-4025	138	46	∆ts	∆ts	NOUN
ajfa-4025	138	47	48	48	NUM
ajfa-4025	138	48	0.0161	0.0161	NUM
ajfa-4025	138	49	0.1947	0.1947	NUM
ajfa-4025	138	50	∆ms	∆ms	ADP
ajfa-4025	138	51	48	48	NUM
ajfa-4025	138	52	0.0126	0.0126	NUM
ajfa-4025	138	53	0.0130	0.0130	NUM
ajfa-4025	138	54	∆ms	∆ms	ADP
ajfa-4025	138	55	48	48	NUM
ajfa-4025	138	56	0.0088	0.0088	NUM
ajfa-4025	138	57	0.0110	0.0110	NUM
ajfa-4025	138	58	∆ms	∆ms	ADP
ajfa-4025	138	59	48	48	NUM
ajfa-4025	138	60	0.0108	0.0108	NUM
ajfa-4025	138	61	0.0145	0.0145	NUM
ajfa-4025	138	62	∆ms	∆ms	ADP
ajfa-4025	138	63	48	48	NUM
ajfa-4025	138	64	0.0114	0.0114	NUM
ajfa-4025	138	65	0.0236	0.0236	NUM
ajfa-4025	138	66	∆er	∆er	NOUN
ajfa-4025	138	67	48	48	NUM
ajfa-4025	138	68	-0.0003	-0.0003	NOUN
ajfa-4025	138	69	0.0137	0.0137	NUM
ajfa-4025	138	70	∆er	∆er	NOUN
ajfa-4025	138	71	48	48	NUM
ajfa-4025	138	72	-0.0017	-0.0017	NOUN
ajfa-4025	138	73	0.0152	0.0152	NUM
ajfa-4025	138	74	∆er	∆er	NOUN
ajfa-4025	138	75	48	48	NUM
ajfa-4025	138	76	0.0035	0.0035	NUM
ajfa-4025	138	77	0.0243	0.0243	NUM
ajfa-4025	138	78	∆er	∆er	ADP
ajfa-4025	138	79	48	48	NUM
ajfa-4025	138	80	0.0001	0.0001	NUM
ajfa-4025	138	81	0.0323	0.0323	NUM
ajfa-4025	138	82	∆op	∆op	ADP
ajfa-4025	138	83	48	48	NUM
ajfa-4025	138	84	0.0216	0.0216	NUM
ajfa-4025	138	85	0.0775	0.0775	NUM
ajfa-4025	138	86	∆op	∆op	ADP
ajfa-4025	138	87	48	48	NUM
ajfa-4025	138	88	0.0087	0.0087	NUM
ajfa-4025	138	89	0.1262	0.1262	NUM
ajfa-4025	138	90	∆op	∆op	ADP
ajfa-4025	138	91	48	48	NUM
ajfa-4025	138	92	0.0216	0.0216	NUM
ajfa-4025	138	93	0.0775	0.0775	NUM
ajfa-4025	138	94	∆op	∆op	ADP
ajfa-4025	138	95	48	48	NUM
ajfa-4025	138	96	0.0087	0.0087	NUM
ajfa-4025	138	97	0.1262	0.1262	NUM
ajfa-4025	138	98	peh	peh	NOUN
ajfa-4025	138	99	48	48	NUM
ajfa-4025	138	100	0.624	0.624	NUM
ajfa-4025	138	101	%	%	NOUN
ajfa-4025	138	102	2.610	2.610	NUM
ajfa-4025	138	103	%	%	NOUN
ajfa-4025	138	104	peh	peh	NOUN
ajfa-4025	138	105	48	48	NUM
ajfa-4025	138	106	0.503	0.503	NUM
ajfa-4025	138	107	%	%	NOUN
ajfa-4025	138	108	3.450	3.450	NUM
ajfa-4025	138	109	%	%	NOUN
ajfa-4025	138	110	peh	peh	NOUN
ajfa-4025	138	111	48	48	NUM
ajfa-4025	138	112	1.813	1.813	NUM
ajfa-4025	138	113	%	%	NOUN
ajfa-4025	138	114	5.172	5.172	NUM
ajfa-4025	138	115	%	%	NOUN
ajfa-4025	138	116	peh	peh	NOUN
ajfa-4025	138	117	48	48	NUM
ajfa-4025	138	118	1.199	1.199	NUM
ajfa-4025	138	119	%	%	NOUN
ajfa-4025	138	120	8.872	8.872	NUM
ajfa-4025	138	121	%	%	NOUN
ajfa-4025	138	122	pem	pem	NOUN
ajfa-4025	138	123	48	48	NUM
ajfa-4025	138	124	1.437	1.437	NUM
ajfa-4025	138	125	%	%	NOUN
ajfa-4025	138	126	3.472	3.472	NUM
ajfa-4025	138	127	%	%	NOUN
ajfa-4025	138	128	pem	pem	NOUN
ajfa-4025	138	129	48	48	NUM
ajfa-4025	138	130	0.604	0.604	NUM
ajfa-4025	138	131	%	%	NOUN
ajfa-4025	138	132	4.310	4.310	NUM
ajfa-4025	138	133	%	%	NOUN
ajfa-4025	138	134	pem	pem	NOUN
ajfa-4025	138	135	48	48	NUM
ajfa-4025	138	136	2.837	2.837	NUM
ajfa-4025	138	137	%	%	NOUN
ajfa-4025	138	138	6.265	6.265	NUM
ajfa-4025	138	139	%	%	NOUN
ajfa-4025	138	140	pem	pem	NOUN
ajfa-4025	138	141	48	48	NUM
ajfa-4025	138	142	2.230	2.230	NUM
ajfa-4025	138	143	%	%	NOUN
ajfa-4025	138	144	8.970	8.970	NUM
ajfa-4025	138	145	%	%	NOUN
ajfa-4025	138	146	pel	pel	NOUN
ajfa-4025	138	147	48	48	NUM
ajfa-4025	138	148	1.288	1.288	NUM
ajfa-4025	138	149	%	%	NOUN
ajfa-4025	138	150	3.687	3.687	NUM
ajfa-4025	138	151	%	%	NOUN
ajfa-4025	138	152	pel	pel	PROPN
ajfa-4025	138	153	48	48	NUM
ajfa-4025	138	154	0.879	0.879	NUM
ajfa-4025	138	155	%	%	NOUN
ajfa-4025	138	156	5.048	5.048	NUM
ajfa-4025	138	157	%	%	NOUN
ajfa-4025	138	158	pel	pel	NOUN
ajfa-4025	138	159	48	48	NUM
ajfa-4025	138	160	4.691	4.691	NUM
ajfa-4025	138	161	%	%	NOUN
ajfa-4025	138	162	5.822	5.822	NUM
ajfa-4025	138	163	%	%	NOUN
ajfa-4025	138	164	pel	pel	NOUN
ajfa-4025	138	165	48	48	NUM
ajfa-4025	138	166	3.590	3.590	NUM
ajfa-4025	138	167	%	%	NOUN
ajfa-4025	138	168	10.783	10.783	NUM
ajfa-4025	138	169	%	%	NOUN
ajfa-4025	138	170	bmh	bmh	NOUN
ajfa-4025	138	171	48	48	NUM
ajfa-4025	138	172	1.479	1.479	NUM
ajfa-4025	138	173	%	%	NOUN
ajfa-4025	138	174	4.630	4.630	NUM
ajfa-4025	138	175	%	%	NOUN
ajfa-4025	138	176	bmh	bmh	NOUN
ajfa-4025	138	177	48	48	NUM
ajfa-4025	138	178	0.885	0.885	NUM
ajfa-4025	138	179	%	%	NOUN
ajfa-4025	138	180	4.667	4.667	NUM
ajfa-4025	138	181	%	%	NOUN
ajfa-4025	138	182	bmh	bmh	NOUN
ajfa-4025	138	183	48	48	NUM
ajfa-4025	138	184	4.074	4.074	NUM
ajfa-4025	138	185	%	%	NOUN
ajfa-4025	138	186	7.606	7.606	NUM
ajfa-4025	138	187	%	%	NOUN
ajfa-4025	138	188	bmh	bmh	NOUN
ajfa-4025	138	189	48	48	NUM
ajfa-4025	138	190	4.188	4.188	NUM
ajfa-4025	138	191	%	%	NOUN
ajfa-4025	138	192	10.449	10.449	NUM
ajfa-4025	138	193	%	%	NOUN
ajfa-4025	138	194	bmm	bmm	PROPN
ajfa-4025	138	195	48	48	NUM
ajfa-4025	138	196	1.133	1.133	NUM
ajfa-4025	138	197	%	%	NOUN
ajfa-4025	138	198	3.511	3.511	NUM
ajfa-4025	138	199	%	%	NOUN
ajfa-4025	138	200	bmm	bmm	PROPN
ajfa-4025	138	201	48	48	NUM
ajfa-4025	138	202	0.540	0.540	NUM
ajfa-4025	138	203	%	%	NOUN
ajfa-4025	138	204	4.727	4.727	NUM
ajfa-4025	138	205	%	%	NOUN
ajfa-4025	138	206	bmm	bmm	PROPN
ajfa-4025	138	207	48	48	NUM
ajfa-4025	138	208	3.494	3.494	NUM
ajfa-4025	138	209	%	%	NOUN
ajfa-4025	138	210	5.730	5.730	NUM
ajfa-4025	138	211	%	%	NOUN
ajfa-4025	138	212	bmm	bmm	PROPN
ajfa-4025	138	213	48	48	NUM
ajfa-4025	138	214	2.146	2.146	NUM
ajfa-4025	138	215	%	%	NOUN
ajfa-4025	138	216	8.681	8.681	NUM
ajfa-4025	138	217	%	%	NOUN
ajfa-4025	138	218	bml	bml	NOUN
ajfa-4025	138	219	48	48	NUM
ajfa-4025	138	220	0.886	0.886	NUM
ajfa-4025	138	221	%	%	NOUN
ajfa-4025	138	222	2.568	2.568	NUM
ajfa-4025	138	223	%	%	NOUN
ajfa-4025	138	224	bml	bml	NOUN
ajfa-4025	138	225	48	48	NUM
ajfa-4025	138	226	0.600	0.600	NUM
ajfa-4025	138	227	%	%	NOUN
ajfa-4025	138	228	3.521	3.521	NUM
ajfa-4025	138	229	%	%	NOUN
ajfa-4025	138	230	bml	bml	NOUN
ajfa-4025	138	231	48	48	NUM
ajfa-4025	138	232	2.448	2.448	NUM
ajfa-4025	138	233	%	%	NOUN
ajfa-4025	138	234	5.599	5.599	NUM
ajfa-4025	138	235	%	%	NOUN
ajfa-4025	138	236	bml	bml	NOUN
ajfa-4025	138	237	48	48	NUM
ajfa-4025	138	238	1.833	1.833	NUM
ajfa-4025	138	239	%	%	NOUN
ajfa-4025	138	240	9.243	9.243	NUM
ajfa-4025	138	241	%	%	NOUN
ajfa-4025	138	242	meh	meh	NOUN
ajfa-4025	138	243	48	48	NUM
ajfa-4025	138	244	1.143	1.143	NUM
ajfa-4025	138	245	%	%	NOUN
ajfa-4025	138	246	2.679	2.679	NUM
ajfa-4025	138	247	%	%	NOUN
ajfa-4025	138	248	meh	meh	NOUN
ajfa-4025	138	249	48	48	NUM
ajfa-4025	138	250	0.686	0.686	NUM
ajfa-4025	138	251	%	%	NOUN
ajfa-4025	138	252	3.594	3.594	NUM
ajfa-4025	138	253	%	%	NOUN
ajfa-4025	138	254	meh	meh	NOUN
ajfa-4025	138	255	48	48	NUM
ajfa-4025	138	256	2.578	2.578	NUM
ajfa-4025	138	257	%	%	NOUN
ajfa-4025	138	258	5.383	5.383	NUM
ajfa-4025	138	259	%	%	NOUN
ajfa-4025	138	260	meh	meh	NOUN
ajfa-4025	138	261	48	48	NUM
ajfa-4025	138	262	2.092	2.092	NUM
ajfa-4025	138	263	%	%	NOUN
ajfa-4025	138	264	9.192	9.192	NUM
ajfa-4025	138	265	%	%	NOUN
ajfa-4025	138	266	mem	mem	VERB
ajfa-4025	138	267	48	48	NUM
ajfa-4025	138	268	0.881	0.881	NUM
ajfa-4025	138	269	%	%	NOUN
ajfa-4025	138	270	3.472	3.472	NUM
ajfa-4025	138	271	%	%	NOUN
ajfa-4025	138	272	mem	mem	VERB
ajfa-4025	138	273	48	48	NUM
ajfa-4025	138	274	0.359	0.359	NUM
ajfa-4025	138	275	%	%	NOUN
ajfa-4025	138	276	4.884	4.884	NUM
ajfa-4025	138	277	%	%	NOUN
ajfa-4025	138	278	mem	mem	VERB
ajfa-4025	138	279	48	48	NUM
ajfa-4025	138	280	3.935	3.935	NUM
ajfa-4025	138	281	%	%	NOUN
ajfa-4025	138	282	6.431	6.431	NUM
ajfa-4025	138	283	%	%	NOUN
ajfa-4025	138	284	mem	mem	VERB
ajfa-4025	138	285	48	48	NUM
ajfa-4025	138	286	2.339	2.339	NUM
ajfa-4025	138	287	%	%	NOUN
ajfa-4025	138	288	9.140	9.140	NUM
ajfa-4025	138	289	%	%	NOUN
ajfa-4025	138	290	mel	mel	NOUN
ajfa-4025	138	291	48	48	NUM
ajfa-4025	138	292	0.851	0.851	NUM
ajfa-4025	138	293	%	%	NOUN
ajfa-4025	138	294	4.629	4.629	NUM
ajfa-4025	138	295	%	%	NOUN
ajfa-4025	138	296	mel	mel	NOUN
ajfa-4025	138	297	48	48	NUM
ajfa-4025	138	298	0.765	0.765	NUM
ajfa-4025	138	299	%	%	NOUN
ajfa-4025	138	300	4.360	4.360	NUM
ajfa-4025	138	301	%	%	NOUN
ajfa-4025	138	302	mel	mel	NOUN
ajfa-4025	138	303	48	48	NUM
ajfa-4025	138	304	3.224	3.224	NUM
ajfa-4025	138	305	%	%	NOUN
ajfa-4025	138	306	6.771	6.771	NUM
ajfa-4025	138	307	%	%	NOUN
ajfa-4025	138	308	mel	mel	NOUN
ajfa-4025	138	309	48	48	NUM
ajfa-4025	138	310	2.466	2.466	NUM
ajfa-4025	138	311	%	%	NOUN
ajfa-4025	138	312	9.733	9.733	NUM
ajfa-4025	138	313	%	%	NOUN
ajfa-4025	138	314	singapore	singapore	PROPN
ajfa-4025	138	315	thailand	thailand	PROPN
ajfa-4025	138	316	∆inf	∆inf	PROPN
ajfa-4025	138	317	48	48	NUM
ajfa-4025	138	318	0.0009	0.0009	NUM
ajfa-4025	138	319	0.0049	0.0049	NUM
ajfa-4025	138	320	∆inf	∆inf	ADJ
ajfa-4025	138	321	48	48	NUM
ajfa-4025	138	322	0.0032	0.0032	NUM
ajfa-4025	138	323	0.0065	0.0065	NUM
ajfa-4025	138	324	∆inf	∆inf	ADJ
ajfa-4025	138	325	48	48	NUM
ajfa-4025	138	326	0.0030	0.0030	NUM
ajfa-4025	138	327	0.0045	0.0045	NUM
ajfa-4025	138	328	∆inf	∆inf	ADJ
ajfa-4025	138	329	48	48	NUM
ajfa-4025	138	330	0.0024	0.0024	NUM
ajfa-4025	138	331	0.0081	0.0081	NUM
ajfa-4025	138	332	∆ipi	∆ipi	ADP
ajfa-4025	138	333	48	48	NUM
ajfa-4025	138	334	0.0078	0.0078	NUM
ajfa-4025	138	335	0.1171	0.1171	NUM
ajfa-4025	138	336	∆ipi	∆ipi	ADP
ajfa-4025	138	337	48	48	NUM
ajfa-4025	138	338	0.0065	0.0065	NUM
ajfa-4025	138	339	0.1239	0.1239	NUM
ajfa-4025	138	340	∆ipi	∆ipi	ADP
ajfa-4025	138	341	48	48	NUM
ajfa-4025	138	342	0.0067	0.0067	NUM
ajfa-4025	138	343	0.0707	0.0707	NUM
ajfa-4025	138	344	∆ipi	∆ipi	ADP
ajfa-4025	138	345	48	48	NUM
ajfa-4025	138	346	0.0038	0.0038	NUM
ajfa-4025	138	347	0.0735	0.0735	NUM
ajfa-4025	138	348	∆ts	∆ts	NOUN
ajfa-4025	138	349	48	48	NUM
ajfa-4025	138	350	-0.0233	-0.0233	NOUN
ajfa-4025	138	351	0.2623	0.2623	NUM
ajfa-4025	138	352	∆ts	∆ts	NOUN
ajfa-4025	138	353	48	48	NUM
ajfa-4025	138	354	0.0281	0.0281	NUM
ajfa-4025	138	355	0.2999	0.2999	NUM
ajfa-4025	138	356	∆ts	∆ts	NOUN
ajfa-4025	138	357	48	48	NUM
ajfa-4025	138	358	0.0059	0.0059	NUM
ajfa-4025	138	359	0.3385	0.3385	NUM
ajfa-4025	138	360	∆ts	∆ts	NOUN
ajfa-4025	138	361	48	48	NUM
ajfa-4025	138	362	-0.0104	-0.0104	NOUN
ajfa-4025	138	363	0.3316	0.3316	NUM
ajfa-4025	138	364	∆ms	∆ms	ADP
ajfa-4025	138	365	48	48	NUM
ajfa-4025	138	366	0.0097	0.0097	NUM
ajfa-4025	138	367	0.0101	0.0101	NUM
ajfa-4025	138	368	∆ms	∆ms	ADP
ajfa-4025	138	369	48	48	NUM
ajfa-4025	138	370	0.0091	0.0091	NUM
ajfa-4025	138	371	0.0086	0.0086	NUM
ajfa-4025	138	372	∆ms	∆ms	ADP
ajfa-4025	138	373	48	48	NUM
ajfa-4025	138	374	0.0057	0.0057	NUM
ajfa-4025	138	375	0.0082	0.0082	NUM
ajfa-4025	138	376	∆ms	∆ms	ADP
ajfa-4025	138	377	48	48	NUM
ajfa-4025	138	378	0.0074	0.0074	NUM
ajfa-4025	138	379	0.0227	0.0227	NUM
ajfa-4025	138	380	∆er	∆er	ADP
ajfa-4025	138	381	48	48	NUM
ajfa-4025	138	382	-0.0012	-0.0012	NOUN
ajfa-4025	138	383	0.0091	0.0091	NUM
ajfa-4025	138	384	∆er	∆er	NOUN
ajfa-4025	138	385	48	48	NUM
ajfa-4025	138	386	-0.0035	-0.0035	NOUN
ajfa-4025	138	387	0.0109	0.0109	NUM
ajfa-4025	138	388	∆er	∆er	NOUN
ajfa-4025	138	389	48	48	NUM
ajfa-4025	138	390	-0.0024	-0.0024	NOUN
ajfa-4025	138	391	0.0131	0.0131	NUM
ajfa-4025	138	392	∆er	∆er	NOUN
ajfa-4025	138	393	48	48	NUM
ajfa-4025	138	394	-0.0013	-0.0013	VERB
ajfa-4025	138	395	0.0166	0.0166	NUM
ajfa-4025	138	396	∆op	∆op	ADP
ajfa-4025	138	397	48	48	NUM
ajfa-4025	138	398	0.0216	0.0216	NUM
ajfa-4025	138	399	0.0775	0.0775	NUM
ajfa-4025	138	400	∆op	∆op	ADP
ajfa-4025	138	401	48	48	NUM
ajfa-4025	138	402	0.0087	0.0087	NUM
ajfa-4025	138	403	0.1262	0.1262	NUM
ajfa-4025	138	404	∆op	∆op	ADP
ajfa-4025	138	405	48	48	NUM
ajfa-4025	138	406	0.0216	0.0216	NUM
ajfa-4025	138	407	0.0775	0.0775	NUM
ajfa-4025	138	408	∆op	∆op	ADP
ajfa-4025	138	409	48	48	NUM
ajfa-4025	138	410	0.0087	0.0087	NUM
ajfa-4025	138	411	0.1262	0.1262	NUM
ajfa-4025	138	412	peh	peh	NOUN
ajfa-4025	138	413	48	48	NUM
ajfa-4025	138	414	2.334	2.334	NUM
ajfa-4025	138	415	%	%	NOUN
ajfa-4025	138	416	2.850	2.850	NUM
ajfa-4025	138	417	%	%	NOUN
ajfa-4025	138	418	peh	peh	NOUN
ajfa-4025	138	419	48	48	NUM
ajfa-4025	138	420	0.047	0.047	NUM
ajfa-4025	138	421	%	%	NOUN
ajfa-4025	138	422	7.337	7.337	NUM
ajfa-4025	138	423	%	%	NOUN
ajfa-4025	138	424	peh	peh	NOUN
ajfa-4025	138	425	48	48	NUM
ajfa-4025	138	426	0.945	0.945	NUM
ajfa-4025	138	427	%	%	NOUN
ajfa-4025	138	428	3.496	3.496	NUM
ajfa-4025	138	429	%	%	NOUN
ajfa-4025	138	430	peh	peh	NOUN
ajfa-4025	138	431	48	48	NUM
ajfa-4025	138	432	0.464	0.464	NUM
ajfa-4025	138	433	%	%	NOUN
ajfa-4025	138	434	5.004	5.004	NUM
ajfa-4025	138	435	%	%	NOUN
ajfa-4025	138	436	pem	pem	NOUN
ajfa-4025	138	437	48	48	NUM
ajfa-4025	138	438	2.298	2.298	NUM
ajfa-4025	138	439	%	%	NOUN
ajfa-4025	138	440	3.218	3.218	NUM
ajfa-4025	138	441	%	%	NOUN
ajfa-4025	138	442	pem	pem	NOUN
ajfa-4025	138	443	48	48	NUM
ajfa-4025	138	444	-0.39	-0.39	NUM
ajfa-4025	138	445	%	%	NOUN
ajfa-4025	138	446	7.618	7.618	NUM
ajfa-4025	138	447	%	%	NOUN
ajfa-4025	138	448	pem	pem	NOUN
ajfa-4025	138	449	48	48	NUM
ajfa-4025	138	450	1.585	1.585	NUM
ajfa-4025	138	451	%	%	NOUN
ajfa-4025	138	452	3.928	3.928	NUM
ajfa-4025	138	453	%	%	NOUN
ajfa-4025	138	454	pem	pem	NOUN
ajfa-4025	138	455	48	48	NUM
ajfa-4025	138	456	1.171	1.171	NUM
ajfa-4025	138	457	%	%	NOUN
ajfa-4025	138	458	5.800	5.800	NUM
ajfa-4025	138	459	%	%	NOUN
ajfa-4025	138	460	pel	pel	NOUN
ajfa-4025	138	461	48	48	NUM
ajfa-4025	138	462	1.809	1.809	NUM
ajfa-4025	138	463	%	%	NOUN
ajfa-4025	138	464	3.975	3.975	NUM
ajfa-4025	138	465	%	%	NOUN
ajfa-4025	138	466	pel	pel	NOUN
ajfa-4025	138	467	48	48	NUM
ajfa-4025	138	468	1.170	1.170	NUM
ajfa-4025	138	469	%	%	NOUN
ajfa-4025	138	470	7.840	7.840	NUM
ajfa-4025	138	471	%	%	NOUN
ajfa-4025	138	472	pel	pel	NOUN
ajfa-4025	138	473	48	48	NUM
ajfa-4025	138	474	0.941	0.941	NUM
ajfa-4025	138	475	%	%	NOUN
ajfa-4025	138	476	4.272	4.272	NUM
ajfa-4025	138	477	%	%	NOUN
ajfa-4025	138	478	pel	pel	NOUN
ajfa-4025	138	479	48	48	NUM
ajfa-4025	138	480	1.268	1.268	NUM
ajfa-4025	138	481	%	%	NOUN
ajfa-4025	138	482	6.021	6.021	NUM
ajfa-4025	138	483	%	%	NOUN
ajfa-4025	138	484	bmh	bmh	NOUN
ajfa-4025	138	485	48	48	NUM
ajfa-4025	138	486	2.498	2.498	NUM
ajfa-4025	138	487	%	%	NOUN
ajfa-4025	138	488	4.053	4.053	NUM
ajfa-4025	138	489	%	%	NOUN
ajfa-4025	138	490	bmh	bmh	NOUN
ajfa-4025	138	491	48	48	NUM
ajfa-4025	138	492	0.882	0.882	NUM
ajfa-4025	138	493	%	%	NOUN
ajfa-4025	138	494	7.138	7.138	NUM
ajfa-4025	138	495	%	%	NOUN
ajfa-4025	138	496	bmh	bmh	NOUN
ajfa-4025	138	497	48	48	NUM
ajfa-4025	138	498	0.775	0.775	NUM
ajfa-4025	138	499	%	%	NOUN
ajfa-4025	138	500	2.753	2.753	NUM
ajfa-4025	138	501	%	%	NOUN
ajfa-4025	138	502	bmh	bmh	NOUN
ajfa-4025	138	503	48	48	NUM
ajfa-4025	138	504	1.578	1.578	NUM
ajfa-4025	138	505	%	%	NOUN
ajfa-4025	138	506	5.708	5.708	NUM
ajfa-4025	138	507	%	%	NOUN
ajfa-4025	138	508	bmm	bmm	PROPN
ajfa-4025	138	509	48	48	NUM
ajfa-4025	138	510	2.162	2.162	NUM
ajfa-4025	138	511	%	%	NOUN
ajfa-4025	138	512	3.292	3.292	NUM
ajfa-4025	138	513	%	%	NOUN
ajfa-4025	138	514	bmm	bmm	PROPN
ajfa-4025	138	515	48	48	NUM
ajfa-4025	138	516	-0.09	-0.09	NUM
ajfa-4025	138	517	%	%	NOUN
ajfa-4025	138	518	8.249	8.249	NUM
ajfa-4025	138	519	%	%	NOUN
ajfa-4025	138	520	bmm	bmm	PROPN
ajfa-4025	138	521	48	48	NUM
ajfa-4025	138	522	1.075	1.075	NUM
ajfa-4025	138	523	%	%	NOUN
ajfa-4025	138	524	4.313	4.313	NUM
ajfa-4025	138	525	%	%	NOUN
ajfa-4025	138	526	bmm	bmm	PROPN
ajfa-4025	138	527	48	48	NUM
ajfa-4025	138	528	0.872	0.872	NUM
ajfa-4025	138	529	%	%	NOUN
ajfa-4025	138	530	4.214	4.214	NUM
ajfa-4025	138	531	%	%	NOUN
ajfa-4025	138	532	bml	bml	NOUN
ajfa-4025	138	533	48	48	NUM
ajfa-4025	138	534	2.083	2.083	NUM
ajfa-4025	138	535	%	%	NOUN
ajfa-4025	138	536	2.698	2.698	NUM
ajfa-4025	138	537	%	%	NOUN
ajfa-4025	138	538	bml	bml	NOUN
ajfa-4025	138	539	48	48	NUM
ajfa-4025	138	540	0.046	0.046	NUM
ajfa-4025	138	541	%	%	NOUN
ajfa-4025	138	542	7.358	7.358	NUM
ajfa-4025	138	543	%	%	NOUN
ajfa-4025	138	544	bml	bml	NOUN
ajfa-4025	138	545	48	48	NUM
ajfa-4025	138	546	1.265	1.265	NUM
ajfa-4025	138	547	%	%	NOUN
ajfa-4025	138	548	4.182	4.182	NUM
ajfa-4025	138	549	%	%	NOUN
ajfa-4025	138	550	bml	bml	NOUN
ajfa-4025	138	551	48	48	NUM
ajfa-4025	138	552	0.742	0.742	NUM
ajfa-4025	138	553	%	%	NOUN
ajfa-4025	138	554	6.132	6.132	NUM
ajfa-4025	138	555	%	%	NOUN
ajfa-4025	138	556	meh	meh	NOUN
ajfa-4025	138	557	48	48	NUM
ajfa-4025	138	558	2.091	2.091	NUM
ajfa-4025	138	559	%	%	NOUN
ajfa-4025	138	560	2.657	2.657	NUM
ajfa-4025	138	561	%	%	NOUN
ajfa-4025	138	562	meh	meh	NOUN
ajfa-4025	138	563	48	48	NUM
ajfa-4025	138	564	0.287	0.287	NUM
ajfa-4025	138	565	%	%	NOUN
ajfa-4025	138	566	7.100	7.100	NUM
ajfa-4025	138	567	%	%	NOUN
ajfa-4025	138	568	meh	meh	NOUN
ajfa-4025	138	569	48	48	NUM
ajfa-4025	138	570	1.306	1.306	NUM
ajfa-4025	138	571	%	%	NOUN
ajfa-4025	138	572	4.268	4.268	NUM
ajfa-4025	138	573	%	%	NOUN
ajfa-4025	138	574	meh	meh	NOUN
ajfa-4025	138	575	48	48	NUM
ajfa-4025	138	576	0.842	0.842	NUM
ajfa-4025	138	577	%	%	NOUN
ajfa-4025	138	578	7.152	7.152	NUM
ajfa-4025	138	579	%	%	NOUN
ajfa-4025	138	580	mem	mem	VERB
ajfa-4025	138	581	48	48	NUM
ajfa-4025	138	582	2.455	2.455	NUM
ajfa-4025	138	583	%	%	NOUN
ajfa-4025	138	584	4.198	4.198	NUM
ajfa-4025	138	585	%	%	NOUN
ajfa-4025	138	586	mem	mem	VERB
ajfa-4025	138	587	48	48	NUM
ajfa-4025	138	588	-0.04	-0.04	NUM
ajfa-4025	138	589	%	%	NOUN
ajfa-4025	138	590	8.476	8.476	NUM
ajfa-4025	138	591	%	%	NOUN
ajfa-4025	138	592	mem	mem	VERB
ajfa-4025	138	593	48	48	NUM
ajfa-4025	138	594	1.094	1.094	NUM
ajfa-4025	138	595	%	%	NOUN
ajfa-4025	138	596	3.812	3.812	NUM
ajfa-4025	138	597	%	%	NOUN
ajfa-4025	138	598	mem	mem	VERB
ajfa-4025	138	599	48	48	NUM
ajfa-4025	138	600	0.769	0.769	NUM
ajfa-4025	138	601	%	%	NOUN
ajfa-4025	138	602	3.793	3.793	NUM
ajfa-4025	138	603	%	%	NOUN
ajfa-4025	138	604	mel	mel	NOUN
ajfa-4025	138	605	48	48	NUM
ajfa-4025	138	606	2.688	2.688	NUM
ajfa-4025	138	607	%	%	NOUN
ajfa-4025	138	608	5.422	5.422	NUM
ajfa-4025	138	609	%	%	NOUN
ajfa-4025	138	610	mel	mel	PROPN
ajfa-4025	138	611	48	48	NUM
ajfa-4025	138	612	-0.18	-0.18	NUM
ajfa-4025	138	613	%	%	NOUN
ajfa-4025	138	614	7.760	7.760	NUM
ajfa-4025	138	615	%	%	NOUN
ajfa-4025	138	616	mel	mel	NOUN
ajfa-4025	138	617	48	48	NUM
ajfa-4025	138	618	0.722	0.722	NUM
ajfa-4025	138	619	%	%	NOUN
ajfa-4025	138	620	3.600	3.600	NUM
ajfa-4025	138	621	%	%	NOUN
ajfa-4025	138	622	mel	mel	NOUN
ajfa-4025	138	623	48	48	NUM
ajfa-4025	138	624	1.425	1.425	NUM
ajfa-4025	138	625	%	%	NOUN
ajfa-4025	138	626	3.973	3.973	NUM
ajfa-4025	138	627	%	%	NOUN
ajfa-4025	138	628	table	table	NOUN
ajfa-4025	138	629	4	4	NUM
ajfa-4025	138	630	provides	provide	VERB
ajfa-4025	138	631	the	the	DET
ajfa-4025	138	632	summary	summary	NOUN
ajfa-4025	138	633	statistics	statistic	NOUN
ajfa-4025	138	634	for	for	ADP
ajfa-4025	138	635	the	the	DET
ajfa-4025	138	636	state	state	NOUN
ajfa-4025	138	637	variables	variable	NOUN
ajfa-4025	138	638	and	and	CCONJ
ajfa-4025	138	639	stock	stock	NOUN
ajfa-4025	138	640	returns	return	NOUN
ajfa-4025	138	641	of	of	ADP
ajfa-4025	138	642	each	each	DET
ajfa-4025	138	643	portfolio	portfolio	NOUN
ajfa-4025	138	644	in	in	ADP
ajfa-4025	138	645	all	all	DET
ajfa-4025	138	646	four	four	NUM
ajfa-4025	138	647	countries	country	NOUN
ajfa-4025	138	648	.	.	PUNCT
ajfa-4025	139	1	for	for	ADP
ajfa-4025	139	2	malaysia	malaysia	PROPN
ajfa-4025	139	3	,	,	PUNCT
ajfa-4025	139	4	the	the	DET
ajfa-4025	139	5	results	result	NOUN
ajfa-4025	139	6	for	for	ADP
ajfa-4025	139	7	the	the	DET
ajfa-4025	139	8	mean	mean	ADJ
ajfa-4025	139	9	and	and	CCONJ
ajfa-4025	139	10	standard	standard	ADJ
ajfa-4025	139	11	deviation	deviation	NOUN
ajfa-4025	139	12	show	show	VERB
ajfa-4025	139	13	that	that	SCONJ
ajfa-4025	139	14	the	the	DET
ajfa-4025	139	15	change	change	NOUN
ajfa-4025	139	16	in	in	ADP
ajfa-4025	139	17	the	the	DET
ajfa-4025	139	18	macroeconomic	macroeconomic	ADJ
ajfa-4025	139	19	variables	variable	NOUN
ajfa-4025	139	20	between	between	ADP
ajfa-4025	139	21	the	the	DET
ajfa-4025	139	22	two	two	NUM
ajfa-4025	139	23	different	different	ADJ
ajfa-4025	139	24	sub	sub	ADJ
ajfa-4025	139	25	-	-	ADJ
ajfa-4025	139	26	periods	periods	ADJ
ajfa-4025	139	27	asian	asian	ADJ
ajfa-4025	139	28	journal	journal	NOUN
ajfa-4025	139	29	of	of	ADP
ajfa-4025	139	30	finance	finance	PROPN
ajfa-4025	139	31	&	&	CCONJ
ajfa-4025	139	32	accounting	accounting	PROPN
ajfa-4025	139	33	issn	issn	PROPN
ajfa-4025	139	34	1946	1946	NUM
ajfa-4025	139	35	-	-	PUNCT
ajfa-4025	139	36	052x	052x	NOUN
ajfa-4025	139	37	2013	2013	NUM
ajfa-4025	139	38	,	,	PUNCT
ajfa-4025	139	39	vol	vol	NOUN
ajfa-4025	139	40	.	.	PROPN
ajfa-4025	139	41	5	5	NUM
ajfa-4025	139	42	,	,	PUNCT
ajfa-4025	139	43	no	no	INTJ
ajfa-4025	139	44	.	.	NOUN
ajfa-4025	139	45	2	2	NUM
ajfa-4025	139	46	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	139	47	170	170	NUM
ajfa-4025	139	48	is	be	AUX
ajfa-4025	139	49	consistent	consistent	ADJ
ajfa-4025	139	50	,	,	PUNCT
ajfa-4025	139	51	except	except	SCONJ
ajfa-4025	139	52	for	for	ADP
ajfa-4025	139	53	∆ts	∆ts	NOUN
ajfa-4025	139	54	and	and	CCONJ
ajfa-4025	139	55	∆op	∆op	PROPN
ajfa-4025	139	56	.	.	PROPN
ajfa-4025	139	57	∆ts	∆ts	PROPN
ajfa-4025	139	58	shows	show	VERB
ajfa-4025	139	59	a	a	DET
ajfa-4025	139	60	higher	high	ADJ
ajfa-4025	139	61	standard	standard	ADJ
ajfa-4025	139	62	deviation	deviation	NOUN
ajfa-4025	139	63	in	in	ADP
ajfa-4025	139	64	sub	sub	NOUN
ajfa-4025	139	65	-	-	NOUN
ajfa-4025	139	66	period	period	NOUN
ajfa-4025	139	67	a	a	DET
ajfa-4025	139	68	(	(	PUNCT
ajfa-4025	139	69	0.3237	0.3237	NUM
ajfa-4025	139	70	)	)	PUNCT
ajfa-4025	139	71	than	than	ADP
ajfa-4025	139	72	in	in	ADP
ajfa-4025	139	73	sub	sub	ADJ
ajfa-4025	139	74	-	-	NOUN
ajfa-4025	139	75	period	period	NOUN
ajfa-4025	139	76	b	b	NOUN
ajfa-4025	139	77	(	(	PUNCT
ajfa-4025	139	78	0.23147	0.23147	NUM
ajfa-4025	139	79	)	)	PUNCT
ajfa-4025	139	80	.	.	PUNCT
ajfa-4025	140	1	the	the	DET
ajfa-4025	140	2	standard	standard	ADJ
ajfa-4025	140	3	deviation	deviation	NOUN
ajfa-4025	140	4	for	for	ADP
ajfa-4025	140	5	∆op	∆op	NOUN
ajfa-4025	140	6	is	be	AUX
ajfa-4025	140	7	found	find	VERB
ajfa-4025	140	8	to	to	PART
ajfa-4025	140	9	be	be	AUX
ajfa-4025	140	10	higher	high	ADJ
ajfa-4025	140	11	in	in	ADP
ajfa-4025	140	12	sub	sub	ADJ
ajfa-4025	140	13	-	-	NOUN
ajfa-4025	140	14	period	period	NOUN
ajfa-4025	140	15	b	b	NOUN
ajfa-4025	140	16	(	(	PUNCT
ajfa-4025	140	17	0.126	0.126	NUM
ajfa-4025	140	18	)	)	PUNCT
ajfa-4025	140	19	.	.	PUNCT
ajfa-4025	141	1	the	the	DET
ajfa-4025	141	2	overall	overall	ADJ
ajfa-4025	141	3	summary	summary	NOUN
ajfa-4025	141	4	of	of	ADP
ajfa-4025	141	5	portfolio	portfolio	NOUN
ajfa-4025	141	6	returns	return	NOUN
ajfa-4025	141	7	shows	show	VERB
ajfa-4025	141	8	that	that	SCONJ
ajfa-4025	141	9	the	the	DET
ajfa-4025	141	10	average	average	ADJ
ajfa-4025	141	11	monthly	monthly	ADJ
ajfa-4025	141	12	stock	stock	NOUN
ajfa-4025	141	13	return	return	NOUN
ajfa-4025	141	14	for	for	ADP
ajfa-4025	141	15	all	all	DET
ajfa-4025	141	16	portfolios	portfolio	NOUN
ajfa-4025	141	17	in	in	ADP
ajfa-4025	141	18	the	the	DET
ajfa-4025	141	19	sub	sub	NOUN
ajfa-4025	141	20	-	-	NOUN
ajfa-4025	141	21	period	period	NOUN
ajfa-4025	141	22	a	a	PRON
ajfa-4025	141	23	(	(	PUNCT
ajfa-4025	141	24	ranging	range	VERB
ajfa-4025	141	25	from	from	ADP
ajfa-4025	141	26	0.85	0.85	NUM
ajfa-4025	141	27	%	%	NOUN
ajfa-4025	141	28	to	to	PART
ajfa-4025	141	29	1.48	1.48	NUM
ajfa-4025	141	30	%	%	NOUN
ajfa-4025	141	31	)	)	PUNCT
ajfa-4025	141	32	is	be	AUX
ajfa-4025	141	33	higher	high	ADJ
ajfa-4025	141	34	than	than	ADP
ajfa-4025	141	35	sub	sub	ADJ
ajfa-4025	141	36	-	-	NOUN
ajfa-4025	141	37	period	period	NOUN
ajfa-4025	141	38	b	b	NOUN
ajfa-4025	141	39	(	(	PUNCT
ajfa-4025	141	40	ranging	range	VERB
ajfa-4025	141	41	from	from	ADP
ajfa-4025	141	42	0.36	0.36	NUM
ajfa-4025	141	43	%	%	NOUN
ajfa-4025	141	44	to	to	PART
ajfa-4025	141	45	0.88	0.88	NUM
ajfa-4025	141	46	%	%	NOUN
ajfa-4025	141	47	)	)	PUNCT
ajfa-4025	141	48	.	.	PUNCT
ajfa-4025	142	1	the	the	DET
ajfa-4025	142	2	high	high	PROPN
ajfa-4025	142	3	bm	bm	PROPN
ajfa-4025	142	4	portfolio	portfolio	PROPN
ajfa-4025	142	5	outperforms	outperform	VERB
ajfa-4025	142	6	the	the	DET
ajfa-4025	142	7	low	low	ADJ
ajfa-4025	142	8	and	and	CCONJ
ajfa-4025	142	9	medium	medium	ADJ
ajfa-4025	142	10	bm	bm	NOUN
ajfa-4025	142	11	portfolios	portfolio	NOUN
ajfa-4025	142	12	in	in	ADP
ajfa-4025	142	13	both	both	DET
ajfa-4025	142	14	sub	sub	NOUN
ajfa-4025	142	15	-	-	NOUN
ajfa-4025	142	16	periods	period	NOUN
ajfa-4025	142	17	.	.	PUNCT
ajfa-4025	143	1	as	as	ADP
ajfa-4025	143	2	for	for	ADP
ajfa-4025	143	3	market	market	NOUN
ajfa-4025	143	4	equity	equity	NOUN
ajfa-4025	143	5	,	,	PUNCT
ajfa-4025	143	6	the	the	DET
ajfa-4025	143	7	high	high	ADJ
ajfa-4025	143	8	me	i	PRON
ajfa-4025	143	9	portfolio	portfolio	NOUN
ajfa-4025	143	10	outperforms	outperform	VERB
ajfa-4025	143	11	the	the	DET
ajfa-4025	143	12	low	low	ADJ
ajfa-4025	143	13	and	and	CCONJ
ajfa-4025	143	14	medium	medium	ADJ
ajfa-4025	143	15	market	market	NOUN
ajfa-4025	143	16	equity	equity	NOUN
ajfa-4025	143	17	portfolios	portfolio	NOUN
ajfa-4025	143	18	in	in	ADP
ajfa-4025	143	19	sub	sub	NOUN
ajfa-4025	143	20	-	-	NOUN
ajfa-4025	143	21	period	period	NOUN
ajfa-4025	143	22	a	a	NOUN
ajfa-4025	143	23	,	,	PUNCT
ajfa-4025	143	24	but	but	CCONJ
ajfa-4025	143	25	the	the	DET
ajfa-4025	143	26	low	low	ADJ
ajfa-4025	143	27	me	me	PROPN
ajfa-4025	143	28	portfolio	portfolio	NOUN
ajfa-4025	143	29	shows	show	VERB
ajfa-4025	143	30	a	a	DET
ajfa-4025	143	31	better	well	ADJ
ajfa-4025	143	32	average	average	ADJ
ajfa-4025	143	33	return	return	NOUN
ajfa-4025	143	34	in	in	ADP
ajfa-4025	143	35	sub	sub	ADJ
ajfa-4025	143	36	-	-	NOUN
ajfa-4025	143	37	period	period	NOUN
ajfa-4025	143	38	b.	b.	NOUN
ajfa-4025	144	1	in	in	ADP
ajfa-4025	144	2	case	case	NOUN
ajfa-4025	144	3	of	of	ADP
ajfa-4025	144	4	indonesia	indonesia	PROPN
ajfa-4025	144	5	,	,	PUNCT
ajfa-4025	144	6	the	the	DET
ajfa-4025	144	7	result	result	NOUN
ajfa-4025	144	8	for	for	ADP
ajfa-4025	144	9	the	the	DET
ajfa-4025	144	10	mean	mean	ADJ
ajfa-4025	144	11	and	and	CCONJ
ajfa-4025	144	12	standard	standard	ADJ
ajfa-4025	144	13	deviation	deviation	NOUN
ajfa-4025	144	14	shows	show	VERB
ajfa-4025	144	15	that	that	SCONJ
ajfa-4025	144	16	the	the	DET
ajfa-4025	144	17	changes	change	NOUN
ajfa-4025	144	18	in	in	ADP
ajfa-4025	144	19	the	the	DET
ajfa-4025	144	20	macroeconomics	macroeconomic	NOUN
ajfa-4025	144	21	variables	variable	NOUN
ajfa-4025	144	22	are	be	AUX
ajfa-4025	144	23	consistent	consistent	ADJ
ajfa-4025	144	24	,	,	PUNCT
ajfa-4025	144	25	except	except	SCONJ
ajfa-4025	144	26	for	for	ADP
ajfa-4025	144	27	∆ts	∆ts	NOUN
ajfa-4025	144	28	,	,	PUNCT
ajfa-4025	144	29	in	in	ADP
ajfa-4025	144	30	both	both	DET
ajfa-4025	144	31	sub	sub	NOUN
ajfa-4025	144	32	-	-	NOUN
ajfa-4025	144	33	periods	period	NOUN
ajfa-4025	144	34	.	.	PUNCT
ajfa-4025	145	1	the	the	DET
ajfa-4025	145	2	overall	overall	ADJ
ajfa-4025	145	3	portfolio	portfolio	NOUN
ajfa-4025	145	4	return	return	NOUN
ajfa-4025	145	5	shows	show	VERB
ajfa-4025	145	6	that	that	SCONJ
ajfa-4025	145	7	the	the	DET
ajfa-4025	145	8	mean	mean	ADJ
ajfa-4025	145	9	monthly	monthly	ADJ
ajfa-4025	145	10	stock	stock	NOUN
ajfa-4025	145	11	return	return	NOUN
ajfa-4025	145	12	for	for	ADP
ajfa-4025	145	13	all	all	DET
ajfa-4025	145	14	portfolios	portfolio	NOUN
ajfa-4025	145	15	in	in	ADP
ajfa-4025	145	16	sub	sub	NOUN
ajfa-4025	145	17	-	-	NOUN
ajfa-4025	145	18	period	period	NOUN
ajfa-4025	145	19	a	a	PRON
ajfa-4025	145	20	(	(	PUNCT
ajfa-4025	145	21	ranging	range	VERB
ajfa-4025	145	22	from	from	ADP
ajfa-4025	145	23	1.81	1.81	NUM
ajfa-4025	145	24	%	%	NOUN
ajfa-4025	145	25	to	to	PART
ajfa-4025	145	26	4.69	4.69	NUM
ajfa-4025	145	27	%	%	NOUN
ajfa-4025	145	28	)	)	PUNCT
ajfa-4025	145	29	is	be	AUX
ajfa-4025	145	30	comparable	comparable	ADJ
ajfa-4025	145	31	with	with	ADP
ajfa-4025	145	32	that	that	PRON
ajfa-4025	145	33	of	of	ADP
ajfa-4025	145	34	sub	sub	NOUN
ajfa-4025	145	35	-	-	NOUN
ajfa-4025	145	36	period	period	NOUN
ajfa-4025	145	37	b	b	NOUN
ajfa-4025	145	38	(	(	PUNCT
ajfa-4025	145	39	ranging	range	VERB
ajfa-4025	145	40	from	from	ADP
ajfa-4025	145	41	1.20	1.20	NUM
ajfa-4025	145	42	%	%	NOUN
ajfa-4025	145	43	to	to	ADP
ajfa-4025	145	44	4.19	4.19	NUM
ajfa-4025	145	45	%	%	NOUN
ajfa-4025	145	46	)	)	PUNCT
ajfa-4025	145	47	.	.	PUNCT
ajfa-4025	146	1	the	the	DET
ajfa-4025	146	2	high	high	PROPN
ajfa-4025	146	3	bm	bm	PROPN
ajfa-4025	146	4	portfolio	portfolio	PROPN
ajfa-4025	146	5	outperforms	outperform	VERB
ajfa-4025	146	6	the	the	DET
ajfa-4025	146	7	low	low	ADJ
ajfa-4025	146	8	and	and	CCONJ
ajfa-4025	146	9	medium	medium	ADJ
ajfa-4025	146	10	bm	bm	NOUN
ajfa-4025	146	11	portfolios	portfolio	NOUN
ajfa-4025	146	12	in	in	ADP
ajfa-4025	146	13	both	both	DET
ajfa-4025	146	14	sub	sub	NOUN
ajfa-4025	146	15	-	-	NOUN
ajfa-4025	146	16	periods	period	NOUN
ajfa-4025	146	17	.	.	PUNCT
ajfa-4025	147	1	for	for	ADP
ajfa-4025	147	2	singapore	singapore	PROPN
ajfa-4025	147	3	,	,	PUNCT
ajfa-4025	147	4	the	the	DET
ajfa-4025	147	5	mean	mean	ADJ
ajfa-4025	147	6	and	and	CCONJ
ajfa-4025	147	7	standard	standard	ADJ
ajfa-4025	147	8	deviation	deviation	NOUN
ajfa-4025	147	9	for	for	ADP
ajfa-4025	147	10	∆ts	∆ts	NOUN
ajfa-4025	147	11	show	show	VERB
ajfa-4025	147	12	significant	significant	ADJ
ajfa-4025	147	13	changes	change	NOUN
ajfa-4025	147	14	from	from	ADP
ajfa-4025	147	15	-0.02333	-0.02333	NOUN
ajfa-4025	147	16	to	to	ADP
ajfa-4025	147	17	0.02813	0.02813	NUM
ajfa-4025	147	18	and	and	CCONJ
ajfa-4025	147	19	from	from	ADP
ajfa-4025	147	20	0.2623	0.2623	NUM
ajfa-4025	147	21	to	to	ADP
ajfa-4025	147	22	0.2999	0.2999	NUM
ajfa-4025	147	23	for	for	ADP
ajfa-4025	147	24	sub	sub	NOUN
ajfa-4025	147	25	-	-	NOUN
ajfa-4025	147	26	period	period	NOUN
ajfa-4025	147	27	a	a	PRON
ajfa-4025	147	28	and	and	CCONJ
ajfa-4025	147	29	sub	sub	NOUN
ajfa-4025	147	30	-	-	NOUN
ajfa-4025	147	31	period	period	NOUN
ajfa-4025	147	32	b	b	NOUN
ajfa-4025	147	33	,	,	PUNCT
ajfa-4025	147	34	respectively	respectively	ADV
ajfa-4025	147	35	.	.	PUNCT
ajfa-4025	148	1	the	the	DET
ajfa-4025	148	2	overall	overall	ADJ
ajfa-4025	148	3	portfolio	portfolio	NOUN
ajfa-4025	148	4	return	return	NOUN
ajfa-4025	148	5	shows	show	VERB
ajfa-4025	148	6	that	that	SCONJ
ajfa-4025	148	7	the	the	DET
ajfa-4025	148	8	mean	mean	ADJ
ajfa-4025	148	9	monthly	monthly	ADJ
ajfa-4025	148	10	stock	stock	NOUN
ajfa-4025	148	11	return	return	NOUN
ajfa-4025	148	12	for	for	ADP
ajfa-4025	148	13	all	all	DET
ajfa-4025	148	14	portfolios	portfolio	NOUN
ajfa-4025	148	15	in	in	ADP
ajfa-4025	148	16	sub	sub	NOUN
ajfa-4025	148	17	-	-	NOUN
ajfa-4025	148	18	period	period	NOUN
ajfa-4025	148	19	a	a	PRON
ajfa-4025	148	20	(	(	PUNCT
ajfa-4025	148	21	ranging	range	VERB
ajfa-4025	148	22	from	from	ADP
ajfa-4025	148	23	1.81	1.81	NUM
ajfa-4025	148	24	%	%	NOUN
ajfa-4025	148	25	to	to	PART
ajfa-4025	148	26	2.69	2.69	NUM
ajfa-4025	148	27	%	%	NOUN
ajfa-4025	148	28	)	)	PUNCT
ajfa-4025	148	29	is	be	AUX
ajfa-4025	148	30	higher	high	ADJ
ajfa-4025	148	31	than	than	ADP
ajfa-4025	148	32	in	in	ADP
ajfa-4025	148	33	sub	sub	ADJ
ajfa-4025	148	34	-	-	NOUN
ajfa-4025	148	35	period	period	NOUN
ajfa-4025	148	36	b	b	NOUN
ajfa-4025	148	37	(	(	PUNCT
ajfa-4025	148	38	ranging	range	VERB
ajfa-4025	148	39	from	from	ADP
ajfa-4025	148	40	-0.4	-0.4	NUM
ajfa-4025	148	41	%	%	NOUN
ajfa-4025	148	42	to	to	ADP
ajfa-4025	148	43	1.17	1.17	NUM
ajfa-4025	148	44	%	%	NOUN
ajfa-4025	148	45	)	)	PUNCT
ajfa-4025	148	46	.	.	PUNCT
ajfa-4025	149	1	the	the	DET
ajfa-4025	149	2	high	high	PROPN
ajfa-4025	149	3	bm	bm	PROPN
ajfa-4025	149	4	portfolio	portfolio	PROPN
ajfa-4025	149	5	outperforms	outperform	VERB
ajfa-4025	149	6	the	the	DET
ajfa-4025	149	7	low	low	ADJ
ajfa-4025	149	8	and	and	CCONJ
ajfa-4025	149	9	medium	medium	ADJ
ajfa-4025	149	10	bm	bm	NOUN
ajfa-4025	149	11	portfolios	portfolio	NOUN
ajfa-4025	149	12	in	in	ADP
ajfa-4025	149	13	both	both	DET
ajfa-4025	149	14	sub	sub	NOUN
ajfa-4025	149	15	-	-	NOUN
ajfa-4025	149	16	periods	period	NOUN
ajfa-4025	149	17	.	.	PUNCT
ajfa-4025	150	1	the	the	DET
ajfa-4025	150	2	result	result	NOUN
ajfa-4025	150	3	for	for	ADP
ajfa-4025	150	4	thailand	thailand	PROPN
ajfa-4025	150	5	shows	show	VERB
ajfa-4025	150	6	that	that	SCONJ
ajfa-4025	150	7	changes	change	NOUN
ajfa-4025	150	8	in	in	ADP
ajfa-4025	150	9	macroeconomics	macroeconomic	NOUN
ajfa-4025	150	10	variables	variable	NOUN
ajfa-4025	150	11	are	be	AUX
ajfa-4025	150	12	consistent	consistent	ADJ
ajfa-4025	150	13	in	in	ADP
ajfa-4025	150	14	both	both	DET
ajfa-4025	150	15	sub	sub	NOUN
ajfa-4025	150	16	-	-	NOUN
ajfa-4025	150	17	periods	period	NOUN
ajfa-4025	150	18	despite	despite	SCONJ
ajfa-4025	150	19	there	there	PRON
ajfa-4025	150	20	being	be	AUX
ajfa-4025	150	21	a	a	DET
ajfa-4025	150	22	change	change	NOUN
ajfa-4025	150	23	in	in	ADP
ajfa-4025	150	24	∆ts	∆ts	NOUN
ajfa-4025	150	25	from	from	ADP
ajfa-4025	150	26	0.00592	0.00592	NUM
ajfa-4025	150	27	to	to	ADP
ajfa-4025	150	28	-1.043	-1.043	NOUN
ajfa-4025	150	29	.	.	PUNCT
ajfa-4025	151	1	the	the	DET
ajfa-4025	151	2	overall	overall	ADJ
ajfa-4025	151	3	portfolio	portfolio	NOUN
ajfa-4025	151	4	return	return	NOUN
ajfa-4025	151	5	shows	show	VERB
ajfa-4025	151	6	that	that	SCONJ
ajfa-4025	151	7	the	the	DET
ajfa-4025	151	8	mean	mean	ADJ
ajfa-4025	151	9	monthly	monthly	ADJ
ajfa-4025	151	10	stock	stock	NOUN
ajfa-4025	151	11	return	return	NOUN
ajfa-4025	151	12	for	for	ADP
ajfa-4025	151	13	all	all	DET
ajfa-4025	151	14	portfolios	portfolio	NOUN
ajfa-4025	151	15	in	in	ADP
ajfa-4025	151	16	sub	sub	NOUN
ajfa-4025	151	17	-	-	NOUN
ajfa-4025	151	18	period	period	NOUN
ajfa-4025	151	19	a	a	PRON
ajfa-4025	151	20	(	(	PUNCT
ajfa-4025	151	21	ranging	range	VERB
ajfa-4025	151	22	from	from	ADP
ajfa-4025	151	23	0.72	0.72	NUM
ajfa-4025	151	24	%	%	NOUN
ajfa-4025	151	25	to	to	ADP
ajfa-4025	151	26	1.31	1.31	NUM
ajfa-4025	151	27	%	%	NOUN
ajfa-4025	151	28	)	)	PUNCT
ajfa-4025	151	29	is	be	AUX
ajfa-4025	151	30	comparable	comparable	ADJ
ajfa-4025	151	31	with	with	ADP
ajfa-4025	151	32	that	that	PRON
ajfa-4025	151	33	in	in	ADP
ajfa-4025	151	34	sub	sub	NOUN
ajfa-4025	151	35	-	-	NOUN
ajfa-4025	151	36	period	period	NOUN
ajfa-4025	151	37	b	b	NOUN
ajfa-4025	151	38	(	(	PUNCT
ajfa-4025	151	39	ranging	range	VERB
ajfa-4025	151	40	from	from	ADP
ajfa-4025	151	41	0.46	0.46	NUM
ajfa-4025	151	42	%	%	NOUN
ajfa-4025	151	43	to	to	PART
ajfa-4025	151	44	1.58	1.58	NUM
ajfa-4025	151	45	%	%	NOUN
ajfa-4025	151	46	)	)	PUNCT
ajfa-4025	151	47	.	.	PUNCT
ajfa-4025	152	1	our	our	PRON
ajfa-4025	152	2	findings	finding	NOUN
ajfa-4025	152	3	consistently	consistently	ADV
ajfa-4025	152	4	show	show	VERB
ajfa-4025	152	5	that	that	SCONJ
ajfa-4025	152	6	,	,	PUNCT
ajfa-4025	152	7	on	on	ADP
ajfa-4025	152	8	average	average	ADJ
ajfa-4025	152	9	,	,	PUNCT
ajfa-4025	152	10	stock	stock	NOUN
ajfa-4025	152	11	returns	return	NOUN
ajfa-4025	152	12	with	with	ADP
ajfa-4025	152	13	high	high	ADJ
ajfa-4025	152	14	bm	bm	PROPN
ajfa-4025	152	15	outperform	outperform	VERB
ajfa-4025	152	16	those	those	PRON
ajfa-4025	152	17	with	with	ADP
ajfa-4025	152	18	low	low	ADJ
ajfa-4025	152	19	and	and	CCONJ
ajfa-4025	152	20	medium	medium	ADJ
ajfa-4025	152	21	bm	bm	NOUN
ajfa-4025	152	22	in	in	ADP
ajfa-4025	152	23	both	both	DET
ajfa-4025	152	24	sub	sub	NOUN
ajfa-4025	152	25	-	-	NOUN
ajfa-4025	152	26	periods	period	NOUN
ajfa-4025	152	27	in	in	ADP
ajfa-4025	152	28	all	all	DET
ajfa-4025	152	29	countries	country	NOUN
ajfa-4025	152	30	in	in	ADP
ajfa-4025	152	31	the	the	DET
ajfa-4025	152	32	analysis	analysis	NOUN
ajfa-4025	152	33	.	.	PUNCT
ajfa-4025	153	1	this	this	DET
ajfa-4025	153	2	result	result	NOUN
ajfa-4025	153	3	is	be	AUX
ajfa-4025	153	4	consistent	consistent	ADJ
ajfa-4025	153	5	with	with	ADP
ajfa-4025	153	6	the	the	DET
ajfa-4025	153	7	findings	finding	NOUN
ajfa-4025	153	8	in	in	ADP
ajfa-4025	153	9	the	the	DET
ajfa-4025	153	10	literature	literature	NOUN
ajfa-4025	153	11	,	,	PUNCT
ajfa-4025	153	12	for	for	ADP
ajfa-4025	153	13	instance	instance	NOUN
ajfa-4025	153	14	fama	fama	NOUN
ajfa-4025	153	15	and	and	CCONJ
ajfa-4025	153	16	french	french	ADJ
ajfa-4025	153	17	(	(	PUNCT
ajfa-4025	153	18	1992	1992	NUM
ajfa-4025	153	19	)	)	PUNCT
ajfa-4025	153	20	and	and	CCONJ
ajfa-4025	153	21	barber	barber	PROPN
ajfa-4025	153	22	and	and	CCONJ
ajfa-4025	153	23	lyon	lyon	PROPN
ajfa-4025	153	24	(	(	PUNCT
ajfa-4025	153	25	1997	1997	NUM
ajfa-4025	153	26	)	)	PUNCT
ajfa-4025	153	27	,	,	PUNCT
ajfa-4025	153	28	provided	provide	VERB
ajfa-4025	153	29	evidence	evidence	NOUN
ajfa-4025	153	30	that	that	SCONJ
ajfa-4025	153	31	a	a	DET
ajfa-4025	153	32	high	high	ADJ
ajfa-4025	153	33	bm	bm	PROPN
ajfa-4025	153	34	portfolio	portfolio	NOUN
ajfa-4025	153	35	outperforms	outperform	NOUN
ajfa-4025	153	36	in	in	ADP
ajfa-4025	153	37	term	term	NOUN
ajfa-4025	153	38	of	of	ADP
ajfa-4025	153	39	the	the	DET
ajfa-4025	153	40	average	average	ADJ
ajfa-4025	153	41	stock	stock	NOUN
ajfa-4025	153	42	return	return	NOUN
ajfa-4025	153	43	relative	relative	ADJ
ajfa-4025	153	44	to	to	ADP
ajfa-4025	153	45	the	the	DET
ajfa-4025	153	46	low	low	PROPN
ajfa-4025	153	47	bm	bm	PROPN
ajfa-4025	153	48	portfolio	portfolio	PROPN
ajfa-4025	153	49	in	in	ADP
ajfa-4025	153	50	the	the	DET
ajfa-4025	153	51	us	us	PROPN
ajfa-4025	153	52	stock	stock	NOUN
ajfa-4025	153	53	market	market	NOUN
ajfa-4025	153	54	,	,	PUNCT
ajfa-4025	153	55	while	while	SCONJ
ajfa-4025	153	56	cotter	cotter	NOUN
ajfa-4025	153	57	and	and	CCONJ
ajfa-4025	153	58	donnellt	donnellt	ADJ
ajfa-4025	153	59	(	(	PUNCT
ajfa-4025	153	60	2006	2006	NUM
ajfa-4025	153	61	)	)	PUNCT
ajfa-4025	153	62	show	show	VERB
ajfa-4025	153	63	the	the	DET
ajfa-4025	153	64	same	same	ADJ
ajfa-4025	153	65	correlation	correlation	NOUN
ajfa-4025	153	66	in	in	ADP
ajfa-4025	153	67	the	the	DET
ajfa-4025	153	68	uk	uk	PROPN
ajfa-4025	153	69	stock	stock	NOUN
ajfa-4025	153	70	market	market	NOUN
ajfa-4025	153	71	.	.	PUNCT
ajfa-4025	154	1	likewise	likewise	ADV
ajfa-4025	154	2	,	,	PUNCT
ajfa-4025	154	3	in	in	ADP
ajfa-4025	154	4	the	the	DET
ajfa-4025	154	5	asia	asia	PROPN
ajfa-4025	154	6	region	region	PROPN
ajfa-4025	154	7	,	,	PUNCT
ajfa-4025	154	8	chui	chui	PROPN
ajfa-4025	154	9	and	and	CCONJ
ajfa-4025	154	10	wei	wei	PROPN
ajfa-4025	154	11	’s	’s	PART
ajfa-4025	154	12	(	(	PUNCT
ajfa-4025	154	13	1998	1998	NUM
ajfa-4025	154	14	)	)	PUNCT
ajfa-4025	154	15	study	study	NOUN
ajfa-4025	154	16	indicates	indicate	VERB
ajfa-4025	154	17	the	the	DET
ajfa-4025	154	18	same	same	ADJ
ajfa-4025	154	19	correlation	correlation	NOUN
ajfa-4025	154	20	for	for	ADP
ajfa-4025	154	21	hong	hong	PROPN
ajfa-4025	154	22	kong	kong	PROPN
ajfa-4025	154	23	,	,	PUNCT
ajfa-4025	154	24	south	south	PROPN
ajfa-4025	154	25	korea	korea	PROPN
ajfa-4025	154	26	and	and	CCONJ
ajfa-4025	154	27	malaysia	malaysia	PROPN
ajfa-4025	154	28	,	,	PUNCT
ajfa-4025	154	29	and	and	CCONJ
ajfa-4025	154	30	chan	chan	PROPN
ajfa-4025	154	31	,	,	PUNCT
ajfa-4025	154	32	hamao	hamao	ADJ
ajfa-4025	154	33	and	and	CCONJ
ajfa-4025	154	34	lakonishok	lakonishok	PROPN
ajfa-4025	154	35	(	(	PUNCT
ajfa-4025	154	36	1991	1991	NUM
ajfa-4025	154	37	)	)	PUNCT
ajfa-4025	154	38	obtain	obtain	VERB
ajfa-4025	154	39	the	the	DET
ajfa-4025	154	40	same	same	ADJ
ajfa-4025	154	41	findings	finding	NOUN
ajfa-4025	154	42	in	in	ADP
ajfa-4025	154	43	their	their	PRON
ajfa-4025	154	44	study	study	NOUN
ajfa-4025	154	45	on	on	ADP
ajfa-4025	154	46	japan	japan	PROPN
ajfa-4025	154	47	.	.	PUNCT
ajfa-4025	155	1	the	the	DET
ajfa-4025	155	2	pe	pe	PROPN
ajfa-4025	155	3	portfolio	portfolio	NOUN
ajfa-4025	155	4	provides	provide	VERB
ajfa-4025	155	5	mixed	mixed	ADJ
ajfa-4025	155	6	findings	finding	NOUN
ajfa-4025	155	7	on	on	ADP
ajfa-4025	155	8	average	average	ADJ
ajfa-4025	155	9	stock	stock	NOUN
ajfa-4025	155	10	return	return	NOUN
ajfa-4025	155	11	during	during	ADP
ajfa-4025	155	12	our	our	PRON
ajfa-4025	155	13	study	study	NOUN
ajfa-4025	155	14	period	period	NOUN
ajfa-4025	155	15	.	.	PUNCT
ajfa-4025	156	1	the	the	DET
ajfa-4025	156	2	low	low	ADJ
ajfa-4025	156	3	pe	pe	PROPN
ajfa-4025	156	4	portfolio	portfolio	NOUN
ajfa-4025	156	5	shows	show	VERB
ajfa-4025	156	6	higher	high	ADJ
ajfa-4025	156	7	average	average	ADJ
ajfa-4025	156	8	return	return	NOUN
ajfa-4025	156	9	in	in	ADP
ajfa-4025	156	10	indonesia	indonesia	PROPN
ajfa-4025	156	11	for	for	ADP
ajfa-4025	156	12	both	both	DET
ajfa-4025	156	13	sub	sub	NOUN
ajfa-4025	156	14	-	-	NOUN
ajfa-4025	156	15	periods	period	NOUN
ajfa-4025	156	16	and	and	CCONJ
ajfa-4025	156	17	during	during	ADP
ajfa-4025	156	18	sub	sub	ADJ
ajfa-4025	156	19	-	-	ADJ
ajfa-4025	156	20	periods	periods	ADJ
ajfa-4025	156	21	b	b	PROPN
ajfa-4025	156	22	in	in	ADP
ajfa-4025	156	23	malaysia	malaysia	PROPN
ajfa-4025	156	24	,	,	PUNCT
ajfa-4025	156	25	singapore	singapore	PROPN
ajfa-4025	156	26	and	and	CCONJ
ajfa-4025	156	27	thailand	thailand	PROPN
ajfa-4025	156	28	.	.	PUNCT
ajfa-4025	157	1	this	this	DET
ajfa-4025	157	2	result	result	NOUN
ajfa-4025	157	3	is	be	AUX
ajfa-4025	157	4	similar	similar	ADJ
ajfa-4025	157	5	to	to	ADP
ajfa-4025	157	6	that	that	PRON
ajfa-4025	157	7	of	of	ADP
ajfa-4025	157	8	basu	basu	PROPN
ajfa-4025	157	9	(	(	PUNCT
ajfa-4025	157	10	1977	1977	NUM
ajfa-4025	157	11	)	)	PUNCT
ajfa-4025	157	12	and	and	CCONJ
ajfa-4025	157	13	ball	ball	NOUN
ajfa-4025	157	14	(	(	PUNCT
ajfa-4025	157	15	1978	1978	NUM
ajfa-4025	157	16	)	)	PUNCT
ajfa-4025	157	17	.	.	PUNCT
ajfa-4025	158	1	truong	truong	PROPN
ajfa-4025	158	2	(	(	PUNCT
ajfa-4025	158	3	2009	2009	NUM
ajfa-4025	158	4	)	)	PUNCT
ajfa-4025	158	5	suggested	suggest	VERB
ajfa-4025	158	6	that	that	SCONJ
ajfa-4025	158	7	part	part	NOUN
ajfa-4025	158	8	of	of	ADP
ajfa-4025	158	9	this	this	DET
ajfa-4025	158	10	phenomenon	phenomenon	NOUN
ajfa-4025	158	11	can	can	AUX
ajfa-4025	158	12	be	be	AUX
ajfa-4025	158	13	explained	explain	VERB
ajfa-4025	158	14	by	by	ADP
ajfa-4025	158	15	investors	investor	NOUN
ajfa-4025	158	16	’	'	PUNCT
ajfa-4025	158	17	erroneous	erroneous	ADJ
ajfa-4025	158	18	extrapolation	extrapolation	NOUN
ajfa-4025	158	19	of	of	ADP
ajfa-4025	158	20	their	their	PRON
ajfa-4025	158	21	past	past	ADJ
ajfa-4025	158	22	performance	performance	NOUN
ajfa-4025	158	23	and	and	CCONJ
ajfa-4025	158	24	that	that	SCONJ
ajfa-4025	158	25	the	the	DET
ajfa-4025	158	26	market	market	NOUN
ajfa-4025	158	27	corrects	correct	VERB
ajfa-4025	158	28	itself	itself	PRON
ajfa-4025	158	29	with	with	ADP
ajfa-4025	158	30	new	new	ADJ
ajfa-4025	158	31	information	information	NOUN
ajfa-4025	158	32	that	that	PRON
ajfa-4025	158	33	sheds	shed	VERB
ajfa-4025	158	34	light	light	NOUN
ajfa-4025	158	35	on	on	ADP
ajfa-4025	158	36	incorrect	incorrect	ADJ
ajfa-4025	158	37	expectations	expectation	NOUN
ajfa-4025	158	38	.	.	PUNCT
ajfa-4025	159	1	moreover	moreover	ADV
ajfa-4025	159	2	,	,	PUNCT
ajfa-4025	159	3	truong	truong	PROPN
ajfa-4025	159	4	(	(	PUNCT
ajfa-4025	159	5	2009	2009	NUM
ajfa-4025	159	6	)	)	PUNCT
ajfa-4025	159	7	suggests	suggest	VERB
ajfa-4025	159	8	that	that	SCONJ
ajfa-4025	159	9	low	low	ADJ
ajfa-4025	159	10	pe	pe	PROPN
ajfa-4025	159	11	stock	stock	NOUN
ajfa-4025	159	12	is	be	AUX
ajfa-4025	159	13	low	low	ADJ
ajfa-4025	159	14	risk	risk	NOUN
ajfa-4025	159	15	and	and	CCONJ
ajfa-4025	159	16	low	low	ADJ
ajfa-4025	159	17	beta	beta	NOUN
ajfa-4025	159	18	,	,	PUNCT
ajfa-4025	159	19	but	but	CCONJ
ajfa-4025	159	20	this	this	DET
ajfa-4025	159	21	stock	stock	NOUN
ajfa-4025	159	22	more	more	ADV
ajfa-4025	159	23	attractive	attractive	ADJ
ajfa-4025	159	24	than	than	ADP
ajfa-4025	159	25	bonds	bond	NOUN
ajfa-4025	159	26	.	.	PUNCT
ajfa-4025	160	1	this	this	PRON
ajfa-4025	160	2	could	could	AUX
ajfa-4025	160	3	explain	explain	VERB
ajfa-4025	160	4	why	why	SCONJ
ajfa-4025	160	5	low	low	ADJ
ajfa-4025	160	6	pe	pe	PROPN
ajfa-4025	160	7	stocks	stock	NOUN
ajfa-4025	160	8	become	become	VERB
ajfa-4025	160	9	more	more	ADV
ajfa-4025	160	10	attractive	attractive	ADJ
ajfa-4025	160	11	during	during	ADP
ajfa-4025	160	12	asian	asian	ADJ
ajfa-4025	160	13	journal	journal	NOUN
ajfa-4025	160	14	of	of	ADP
ajfa-4025	160	15	finance	finance	PROPN
ajfa-4025	160	16	&	&	CCONJ
ajfa-4025	160	17	accounting	accounting	PROPN
ajfa-4025	160	18	issn	issn	PROPN
ajfa-4025	160	19	1946	1946	NUM
ajfa-4025	160	20	-	-	PUNCT
ajfa-4025	160	21	052x	052x	NOUN
ajfa-4025	160	22	2013	2013	NUM
ajfa-4025	160	23	,	,	PUNCT
ajfa-4025	160	24	vol	vol	NOUN
ajfa-4025	160	25	.	.	PROPN
ajfa-4025	160	26	5	5	NUM
ajfa-4025	160	27	,	,	PUNCT
ajfa-4025	160	28	no	no	INTJ
ajfa-4025	160	29	.	.	NOUN
ajfa-4025	160	30	2	2	NUM
ajfa-4025	160	31	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	160	32	171	171	NUM
ajfa-4025	160	33	crisis	crisis	NOUN
ajfa-4025	160	34	periods	period	NOUN
ajfa-4025	160	35	because	because	SCONJ
ajfa-4025	160	36	other	other	ADJ
ajfa-4025	160	37	than	than	ADP
ajfa-4025	160	38	bonds	bond	NOUN
ajfa-4025	160	39	,	,	PUNCT
ajfa-4025	160	40	the	the	DET
ajfa-4025	160	41	low	low	ADJ
ajfa-4025	160	42	pe	pe	PROPN
ajfa-4025	160	43	portfolio	portfolio	NOUN
ajfa-4025	160	44	is	be	AUX
ajfa-4025	160	45	characterized	characterize	VERB
ajfa-4025	160	46	as	as	ADP
ajfa-4025	160	47	a	a	DET
ajfa-4025	160	48	“	"	PUNCT
ajfa-4025	160	49	safe	safe	ADJ
ajfa-4025	160	50	haven	haven	NOUN
ajfa-4025	160	51	”	"	PUNCT
ajfa-4025	160	52	during	during	ADP
ajfa-4025	160	53	crisis	crisis	NOUN
ajfa-4025	160	54	periods	period	NOUN
ajfa-4025	160	55	.	.	PUNCT
ajfa-4025	161	1	in	in	ADP
ajfa-4025	161	2	contrast	contrast	NOUN
ajfa-4025	161	3	,	,	PUNCT
ajfa-4025	161	4	medium	medium	ADJ
ajfa-4025	161	5	and	and	CCONJ
ajfa-4025	161	6	high	high	ADJ
ajfa-4025	161	7	pe	pe	NOUN
ajfa-4025	161	8	portfolios	portfolio	NOUN
ajfa-4025	161	9	shows	show	VERB
ajfa-4025	161	10	higher	high	ADJ
ajfa-4025	161	11	average	average	ADJ
ajfa-4025	161	12	return	return	NOUN
ajfa-4025	161	13	than	than	ADP
ajfa-4025	161	14	low	low	ADJ
ajfa-4025	161	15	pe	pe	NOUN
ajfa-4025	161	16	portfolios	portfolio	NOUN
ajfa-4025	161	17	for	for	ADP
ajfa-4025	161	18	malaysia	malaysia	PROPN
ajfa-4025	161	19	,	,	PUNCT
ajfa-4025	161	20	singapore	singapore	PROPN
ajfa-4025	161	21	and	and	CCONJ
ajfa-4025	161	22	thailand	thailand	PROPN
ajfa-4025	161	23	during	during	ADP
ajfa-4025	161	24	sub	sub	NOUN
ajfa-4025	161	25	-	-	NOUN
ajfa-4025	161	26	period	period	NOUN
ajfa-4025	161	27	a	a	PRON
ajfa-4025	161	28	,	,	PUNCT
ajfa-4025	161	29	which	which	PRON
ajfa-4025	161	30	is	be	AUX
ajfa-4025	161	31	in	in	ADP
ajfa-4025	161	32	line	line	NOUN
ajfa-4025	161	33	with	with	ADP
ajfa-4025	161	34	the	the	DET
ajfa-4025	161	35	findings	finding	NOUN
ajfa-4025	161	36	of	of	ADP
ajfa-4025	161	37	lakonishok	lakonishok	PROPN
ajfa-4025	161	38	et	et	PROPN
ajfa-4025	161	39	al	al	PROPN
ajfa-4025	161	40	.	.	PROPN
ajfa-4025	162	1	(	(	PUNCT
ajfa-4025	162	2	1994	1994	NUM
ajfa-4025	162	3	)	)	PUNCT
ajfa-4025	162	4	,	,	PUNCT
ajfa-4025	162	5	who	who	PRON
ajfa-4025	162	6	suggest	suggest	VERB
ajfa-4025	162	7	that	that	SCONJ
ajfa-4025	162	8	the	the	DET
ajfa-4025	162	9	high	high	ADJ
ajfa-4025	162	10	pe	pe	NOUN
ajfa-4025	162	11	portfolios	portfolio	NOUN
ajfa-4025	162	12	outperform	outperform	VERB
ajfa-4025	162	13	in	in	ADP
ajfa-4025	162	14	the	the	DET
ajfa-4025	162	15	past	past	NOUN
ajfa-4025	162	16	and	and	CCONJ
ajfa-4025	162	17	are	be	AUX
ajfa-4025	162	18	expected	expect	VERB
ajfa-4025	162	19	to	to	PART
ajfa-4025	162	20	continue	continue	VERB
ajfa-4025	162	21	to	to	PART
ajfa-4025	162	22	perform	perform	VERB
ajfa-4025	162	23	well	well	ADV
ajfa-4025	162	24	and	and	CCONJ
ajfa-4025	162	25	,	,	PUNCT
ajfa-4025	162	26	vice	vice	ADV
ajfa-4025	162	27	versa	versa	ADV
ajfa-4025	162	28	,	,	PUNCT
ajfa-4025	162	29	for	for	ADP
ajfa-4025	162	30	low	low	ADJ
ajfa-4025	162	31	pe	pe	NOUN
ajfa-4025	162	32	portfolios	portfolio	NOUN
ajfa-4025	162	33	.	.	PUNCT
ajfa-4025	163	1	this	this	DET
ajfa-4025	163	2	phenomenon	phenomenon	NOUN
ajfa-4025	163	3	occurred	occur	VERB
ajfa-4025	163	4	in	in	ADP
ajfa-4025	163	5	malaysia	malaysia	PROPN
ajfa-4025	163	6	,	,	PUNCT
ajfa-4025	163	7	singapore	singapore	PROPN
ajfa-4025	163	8	and	and	CCONJ
ajfa-4025	163	9	thailand	thailand	PROPN
ajfa-4025	163	10	during	during	ADP
ajfa-4025	163	11	the	the	DET
ajfa-4025	163	12	economic	economic	ADJ
ajfa-4025	163	13	boom	boom	NOUN
ajfa-4025	163	14	period	period	NOUN
ajfa-4025	163	15	before	before	ADP
ajfa-4025	163	16	the	the	DET
ajfa-4025	163	17	economic	economic	ADJ
ajfa-4025	163	18	crisis	crisis	NOUN
ajfa-4025	163	19	of	of	ADP
ajfa-4025	163	20	2007	2007	NUM
ajfa-4025	163	21	.	.	PUNCT
ajfa-4025	164	1	size	size	NOUN
ajfa-4025	164	2	effect	effect	NOUN
ajfa-4025	164	3	(	(	PUNCT
ajfa-4025	164	4	me	i	PRON
ajfa-4025	164	5	)	)	PUNCT
ajfa-4025	164	6	plays	play	VERB
ajfa-4025	164	7	an	an	DET
ajfa-4025	164	8	important	important	ADJ
ajfa-4025	164	9	role	role	NOUN
ajfa-4025	164	10	in	in	ADP
ajfa-4025	164	11	the	the	DET
ajfa-4025	164	12	value	value	NOUN
ajfa-4025	164	13	of	of	ADP
ajfa-4025	164	14	stock	stock	NOUN
ajfa-4025	164	15	return	return	NOUN
ajfa-4025	164	16	.	.	PUNCT
ajfa-4025	165	1	based	base	VERB
ajfa-4025	165	2	on	on	ADP
ajfa-4025	165	3	the	the	DET
ajfa-4025	165	4	findings	finding	NOUN
ajfa-4025	165	5	of	of	ADP
ajfa-4025	165	6	banz	banz	NOUN
ajfa-4025	165	7	(	(	PUNCT
ajfa-4025	165	8	1981	1981	NUM
ajfa-4025	165	9	)	)	PUNCT
ajfa-4025	165	10	and	and	CCONJ
ajfa-4025	165	11	reinganum	reinganum	ADJ
ajfa-4025	165	12	(	(	PUNCT
ajfa-4025	165	13	1981	1981	NUM
ajfa-4025	165	14	)	)	PUNCT
ajfa-4025	165	15	,	,	PUNCT
ajfa-4025	165	16	low	low	ADJ
ajfa-4025	165	17	me	i	PRON
ajfa-4025	165	18	portfolio	portfolio	NOUN
ajfa-4025	165	19	should	should	AUX
ajfa-4025	165	20	outperform	outperform	VERB
ajfa-4025	165	21	the	the	DET
ajfa-4025	165	22	high	high	ADJ
ajfa-4025	165	23	me	me	PROPN
ajfa-4025	165	24	portfolio	portfolio	NOUN
ajfa-4025	165	25	.	.	PUNCT
ajfa-4025	166	1	our	our	PRON
ajfa-4025	166	2	study	study	NOUN
ajfa-4025	166	3	shows	show	VERB
ajfa-4025	166	4	mixed	mixed	ADJ
ajfa-4025	166	5	findings	finding	NOUN
ajfa-4025	166	6	in	in	ADP
ajfa-4025	166	7	the	the	DET
ajfa-4025	166	8	two	two	NUM
ajfa-4025	166	9	different	different	ADJ
ajfa-4025	166	10	sub	sub	NOUN
ajfa-4025	166	11	-	-	NOUN
ajfa-4025	166	12	periods	period	NOUN
ajfa-4025	166	13	as	as	ADV
ajfa-4025	166	14	well	well	ADV
ajfa-4025	166	15	as	as	ADP
ajfa-4025	166	16	in	in	ADP
ajfa-4025	166	17	different	different	ADJ
ajfa-4025	166	18	countries	country	NOUN
ajfa-4025	166	19	.	.	PUNCT
ajfa-4025	167	1	our	our	PRON
ajfa-4025	167	2	findings	finding	NOUN
ajfa-4025	167	3	shows	show	VERB
ajfa-4025	167	4	that	that	SCONJ
ajfa-4025	167	5	high	high	ADJ
ajfa-4025	167	6	and	and	CCONJ
ajfa-4025	167	7	medium	medium	ADJ
ajfa-4025	167	8	me	i	PRON
ajfa-4025	167	9	portfolios	portfolio	NOUN
ajfa-4025	167	10	are	be	AUX
ajfa-4025	167	11	more	more	ADV
ajfa-4025	167	12	lucrative	lucrative	ADJ
ajfa-4025	167	13	than	than	ADP
ajfa-4025	167	14	low	low	ADJ
ajfa-4025	167	15	portfolios	portfolio	NOUN
ajfa-4025	167	16	in	in	ADP
ajfa-4025	167	17	emerging	emerge	VERB
ajfa-4025	167	18	countries	country	NOUN
ajfa-4025	167	19	(	(	PUNCT
ajfa-4025	167	20	indonesia	indonesia	PROPN
ajfa-4025	167	21	,	,	PUNCT
ajfa-4025	167	22	malaysia	malaysia	PROPN
ajfa-4025	167	23	and	and	CCONJ
ajfa-4025	167	24	thailand	thailand	PROPN
ajfa-4025	167	25	)	)	PUNCT
ajfa-4025	167	26	in	in	ADP
ajfa-4025	167	27	sub	sub	NOUN
ajfa-4025	167	28	-	-	NOUN
ajfa-4025	167	29	period	period	NOUN
ajfa-4025	167	30	a	a	NOUN
ajfa-4025	167	31	,	,	PUNCT
ajfa-4025	167	32	but	but	CCONJ
ajfa-4025	167	33	that	that	SCONJ
ajfa-4025	167	34	the	the	DET
ajfa-4025	167	35	low	low	ADJ
ajfa-4025	167	36	me	me	PROPN
ajfa-4025	167	37	portfolio	portfolio	NOUN
ajfa-4025	167	38	outperforms	outperform	VERB
ajfa-4025	167	39	the	the	DET
ajfa-4025	167	40	medium	medium	ADJ
ajfa-4025	167	41	and	and	CCONJ
ajfa-4025	167	42	high	high	ADJ
ajfa-4025	167	43	me	i	PRON
ajfa-4025	167	44	portfolios	portfolio	NOUN
ajfa-4025	167	45	during	during	ADP
ajfa-4025	167	46	sub	sub	ADJ
ajfa-4025	167	47	-	-	NOUN
ajfa-4025	167	48	period	period	NOUN
ajfa-4025	167	49	b.	b.	NOUN
ajfa-4025	167	50	in	in	ADP
ajfa-4025	167	51	singapore	singapore	PROPN
ajfa-4025	167	52	,	,	PUNCT
ajfa-4025	167	53	a	a	DET
ajfa-4025	167	54	developed	developed	ADJ
ajfa-4025	167	55	economy	economy	NOUN
ajfa-4025	167	56	,	,	PUNCT
ajfa-4025	167	57	the	the	DET
ajfa-4025	167	58	low	low	ADJ
ajfa-4025	167	59	me	me	PROPN
ajfa-4025	167	60	portfolio	portfolio	NOUN
ajfa-4025	167	61	outperforms	outperform	VERB
ajfa-4025	167	62	the	the	DET
ajfa-4025	167	63	high	high	ADJ
ajfa-4025	167	64	and	and	CCONJ
ajfa-4025	167	65	medium	medium	ADJ
ajfa-4025	167	66	portfolios	portfolio	NOUN
ajfa-4025	167	67	during	during	ADP
ajfa-4025	167	68	sub	sub	NOUN
ajfa-4025	167	69	-	-	NOUN
ajfa-4025	167	70	period	period	NOUN
ajfa-4025	167	71	a	a	NOUN
ajfa-4025	167	72	,	,	PUNCT
ajfa-4025	167	73	but	but	CCONJ
ajfa-4025	167	74	the	the	DET
ajfa-4025	167	75	high	high	ADJ
ajfa-4025	167	76	me	i	PRON
ajfa-4025	167	77	portfolio	portfolio	NOUN
ajfa-4025	167	78	has	have	VERB
ajfa-4025	167	79	higher	high	ADJ
ajfa-4025	167	80	average	average	ADJ
ajfa-4025	167	81	return	return	NOUN
ajfa-4025	167	82	than	than	ADP
ajfa-4025	167	83	the	the	DET
ajfa-4025	167	84	medium	medium	ADJ
ajfa-4025	167	85	and	and	CCONJ
ajfa-4025	167	86	low	low	ADJ
ajfa-4025	167	87	me	i	PRON
ajfa-4025	167	88	portfolios	portfolio	NOUN
ajfa-4025	167	89	during	during	ADP
ajfa-4025	167	90	sub	sub	NOUN
ajfa-4025	167	91	-	-	NOUN
ajfa-4025	167	92	period	period	NOUN
ajfa-4025	167	93	b.	b.	NOUN
ajfa-4025	168	1	the	the	DET
ajfa-4025	168	2	study	study	NOUN
ajfa-4025	168	3	of	of	ADP
ajfa-4025	168	4	brown	brown	ADJ
ajfa-4025	168	5	,	,	PUNCT
ajfa-4025	168	6	kleidon	kleidon	ADJ
ajfa-4025	168	7	and	and	CCONJ
ajfa-4025	168	8	marsh	marsh	PROPN
ajfa-4025	168	9	(	(	PUNCT
ajfa-4025	168	10	1983	1983	NUM
ajfa-4025	168	11	)	)	PUNCT
ajfa-4025	168	12	acknowledges	acknowledge	VERB
ajfa-4025	168	13	that	that	SCONJ
ajfa-4025	168	14	size	size	NOUN
ajfa-4025	168	15	effect	effect	NOUN
ajfa-4025	168	16	is	be	AUX
ajfa-4025	168	17	not	not	PART
ajfa-4025	168	18	stable	stable	ADJ
ajfa-4025	168	19	over	over	ADP
ajfa-4025	168	20	time	time	NOUN
ajfa-4025	168	21	periods	period	NOUN
ajfa-4025	168	22	.	.	PUNCT
ajfa-4025	169	1	this	this	DET
ajfa-4025	169	2	phenomenon	phenomenon	NOUN
ajfa-4025	169	3	can	can	AUX
ajfa-4025	169	4	be	be	AUX
ajfa-4025	169	5	found	find	VERB
ajfa-4025	169	6	in	in	ADP
ajfa-4025	169	7	our	our	PRON
ajfa-4025	169	8	study	study	NOUN
ajfa-4025	169	9	in	in	ADP
ajfa-4025	169	10	the	the	DET
ajfa-4025	169	11	cases	case	NOUN
ajfa-4025	169	12	of	of	ADP
ajfa-4025	169	13	indonesia	indonesia	PROPN
ajfa-4025	169	14	,	,	PUNCT
ajfa-4025	169	15	malaysia	malaysia	PROPN
ajfa-4025	169	16	,	,	PUNCT
ajfa-4025	169	17	singapore	singapore	PROPN
ajfa-4025	169	18	and	and	CCONJ
ajfa-4025	169	19	thailand	thailand	PROPN
ajfa-4025	169	20	,	,	PUNCT
ajfa-4025	169	21	where	where	SCONJ
ajfa-4025	169	22	the	the	DET
ajfa-4025	169	23	me	me	PROPN
ajfa-4025	169	24	portfolio	portfolio	NOUN
ajfa-4025	169	25	reacts	react	VERB
ajfa-4025	169	26	differently	differently	ADV
ajfa-4025	169	27	in	in	ADP
ajfa-4025	169	28	both	both	DET
ajfa-4025	169	29	sub	sub	NOUN
ajfa-4025	169	30	-	-	NOUN
ajfa-4025	169	31	periods	period	NOUN
ajfa-4025	169	32	.	.	PUNCT
ajfa-4025	170	1	as	as	SCONJ
ajfa-4025	170	2	explained	explain	VERB
ajfa-4025	170	3	by	by	ADP
ajfa-4025	170	4	reilly	reilly	ADJ
ajfa-4025	170	5	and	and	CCONJ
ajfa-4025	170	6	brown	brown	ADJ
ajfa-4025	170	7	(	(	PUNCT
ajfa-4025	170	8	2006	2006	NUM
ajfa-4025	170	9	)	)	PUNCT
ajfa-4025	170	10	,	,	PUNCT
ajfa-4025	170	11	size	size	NOUN
ajfa-4025	170	12	effect	effect	NOUN
ajfa-4025	170	13	is	be	AUX
ajfa-4025	170	14	an	an	DET
ajfa-4025	170	15	important	important	ADJ
ajfa-4025	170	16	factor	factor	NOUN
ajfa-4025	170	17	in	in	ADP
ajfa-4025	170	18	the	the	DET
ajfa-4025	170	19	capital	capital	NOUN
ajfa-4025	170	20	market	market	NOUN
ajfa-4025	170	21	which	which	PRON
ajfa-4025	170	22	can	can	AUX
ajfa-4025	170	23	not	not	PART
ajfa-4025	170	24	be	be	AUX
ajfa-4025	170	25	explained	explain	VERB
ajfa-4025	170	26	by	by	ADP
ajfa-4025	170	27	established	establish	VERB
ajfa-4025	170	28	theory	theory	NOUN
ajfa-4025	170	29	so	so	ADV
ajfa-4025	170	30	far	far	ADV
ajfa-4025	170	31	.	.	PUNCT
ajfa-4025	171	1	adf	adf	NOUN
ajfa-4025	171	2	test	test	NOUN
ajfa-4025	171	3	concluded	conclude	VERB
ajfa-4025	171	4	that	that	SCONJ
ajfa-4025	171	5	all	all	PRON
ajfa-4025	171	6	of	of	ADP
ajfa-4025	171	7	the	the	DET
ajfa-4025	171	8	series	series	NOUN
ajfa-4025	171	9	are	be	AUX
ajfa-4025	171	10	stationary	stationary	ADJ
ajfa-4025	171	11	;	;	PUNCT
ajfa-4025	171	12	the	the	DET
ajfa-4025	171	13	effect	effect	NOUN
ajfa-4025	171	14	of	of	ADP
ajfa-4025	171	15	macroeconomic	macroeconomic	ADJ
ajfa-4025	171	16	variables	variable	NOUN
ajfa-4025	171	17	on	on	ADP
ajfa-4025	171	18	the	the	DET
ajfa-4025	171	19	portfolio	portfolio	NOUN
ajfa-4025	171	20	returns	return	NOUN
ajfa-4025	171	21	is	be	AUX
ajfa-4025	171	22	then	then	ADV
ajfa-4025	171	23	examined	examine	VERB
ajfa-4025	171	24	by	by	ADP
ajfa-4025	171	25	ols	ol	NOUN
ajfa-4025	171	26	estimation	estimation	NOUN
ajfa-4025	171	27	.	.	PUNCT
ajfa-4025	172	1	ols	ol	NOUN
ajfa-4025	172	2	estimation	estimation	NOUN
ajfa-4025	172	3	results	result	NOUN
ajfa-4025	172	4	are	be	AUX
ajfa-4025	172	5	reported	report	VERB
ajfa-4025	172	6	in	in	ADP
ajfa-4025	172	7	table	table	NOUN
ajfa-4025	172	8	5	5	NUM
ajfa-4025	172	9	-	-	SYM
ajfa-4025	172	10	8	8	NUM
ajfa-4025	172	11	.	.	PUNCT
ajfa-4025	172	12	table	table	NOUN
ajfa-4025	172	13	5	5	NUM
ajfa-4025	172	14	summarizes	summarize	NOUN
ajfa-4025	172	15	the	the	DET
ajfa-4025	172	16	relationship	relationship	NOUN
ajfa-4025	172	17	between	between	ADP
ajfa-4025	172	18	different	different	ADJ
ajfa-4025	172	19	pe	pe	NOUN
ajfa-4025	172	20	,	,	PUNCT
ajfa-4025	172	21	mb	mb	ADP
ajfa-4025	172	22	and	and	CCONJ
ajfa-4025	172	23	me	i	PRON
ajfa-4025	172	24	and	and	CCONJ
ajfa-4025	172	25	the	the	DET
ajfa-4025	172	26	hypothesized	hypothesized	ADJ
ajfa-4025	172	27	macroeconomic	macroeconomic	ADJ
ajfa-4025	172	28	variables	variable	NOUN
ajfa-4025	172	29	for	for	ADP
ajfa-4025	172	30	malaysia	malaysia	PROPN
ajfa-4025	172	31	in	in	ADP
ajfa-4025	172	32	both	both	DET
ajfa-4025	172	33	sub	sub	NOUN
ajfa-4025	172	34	-	-	NOUN
ajfa-4025	172	35	periods	period	NOUN
ajfa-4025	172	36	.	.	PUNCT
ajfa-4025	173	1	in	in	ADP
ajfa-4025	173	2	sub	sub	NOUN
ajfa-4025	173	3	-	-	NOUN
ajfa-4025	173	4	period	period	NOUN
ajfa-4025	173	5	a	a	PRON
ajfa-4025	173	6	,	,	PUNCT
ajfa-4025	173	7	the	the	DET
ajfa-4025	173	8	result	result	NOUN
ajfa-4025	173	9	of	of	ADP
ajfa-4025	173	10	our	our	PRON
ajfa-4025	173	11	analysis	analysis	NOUN
ajfa-4025	173	12	show	show	VERB
ajfa-4025	173	13	that	that	SCONJ
ajfa-4025	173	14	the	the	DET
ajfa-4025	173	15	change	change	NOUN
ajfa-4025	173	16	in	in	ADP
ajfa-4025	173	17	consumer	consumer	NOUN
ajfa-4025	173	18	price	price	NOUN
ajfa-4025	173	19	index	index	NOUN
ajfa-4025	173	20	,	,	PUNCT
ajfa-4025	173	21	shows	show	VERB
ajfa-4025	173	22	a	a	DET
ajfa-4025	173	23	significance	significance	NOUN
ajfa-4025	173	24	effect	effect	NOUN
ajfa-4025	173	25	in	in	ADP
ajfa-4025	173	26	regard	regard	NOUN
ajfa-4025	173	27	to	to	ADP
ajfa-4025	173	28	the	the	DET
ajfa-4025	173	29	stock	stock	NOUN
ajfa-4025	173	30	return	return	NOUN
ajfa-4025	173	31	in	in	ADP
ajfa-4025	173	32	portfolios	portfolio	NOUN
ajfa-4025	173	33	peh	peh	PROPN
ajfa-4025	173	34	,	,	PUNCT
ajfa-4025	173	35	pem	pem	NOUN
ajfa-4025	173	36	,	,	PUNCT
ajfa-4025	173	37	bml	bml	NOUN
ajfa-4025	173	38	and	and	CCONJ
ajfa-4025	173	39	meh	meh	NOUN
ajfa-4025	173	40	,	,	PUNCT
ajfa-4025	173	41	with	with	ADP
ajfa-4025	173	42	a	a	DET
ajfa-4025	173	43	negative	negative	ADJ
ajfa-4025	173	44	relationship	relationship	NOUN
ajfa-4025	173	45	.	.	PUNCT
ajfa-4025	174	1	the	the	DET
ajfa-4025	174	2	result	result	NOUN
ajfa-4025	174	3	is	be	AUX
ajfa-4025	174	4	consistent	consistent	ADJ
ajfa-4025	174	5	with	with	ADP
ajfa-4025	174	6	the	the	DET
ajfa-4025	174	7	studies	study	NOUN
ajfa-4025	174	8	of	of	ADP
ajfa-4025	174	9	naka	naka	PROPN
ajfa-4025	174	10	,	,	PUNCT
ajfa-4025	174	11	mukherjee	mukherjee	NOUN
ajfa-4025	174	12	and	and	CCONJ
ajfa-4025	174	13	tufte	tufte	PROPN
ajfa-4025	174	14	(	(	PUNCT
ajfa-4025	174	15	1998	1998	NUM
ajfa-4025	174	16	)	)	PUNCT
ajfa-4025	174	17	,	,	PUNCT
ajfa-4025	174	18	maghayereh	maghayereh	NOUN
ajfa-4025	174	19	(	(	PUNCT
ajfa-4025	174	20	2002	2002	NUM
ajfa-4025	174	21	)	)	PUNCT
ajfa-4025	174	22	,	,	PUNCT
ajfa-4025	174	23	nishat	nishat	PROPN
ajfa-4025	174	24	and	and	CCONJ
ajfa-4025	174	25	shaheen	shaheen	PROPN
ajfa-4025	174	26	(	(	PUNCT
ajfa-4025	174	27	2004	2004	NUM
ajfa-4025	174	28	)	)	PUNCT
ajfa-4025	174	29	and	and	CCONJ
ajfa-4025	174	30	al	al	PROPN
ajfa-4025	174	31	-	-	PUNCT
ajfa-4025	174	32	sharkas	sharkas	PROPN
ajfa-4025	174	33	(	(	PUNCT
ajfa-4025	174	34	2004	2004	NUM
ajfa-4025	174	35	)	)	PUNCT
ajfa-4025	174	36	in	in	ADP
ajfa-4025	174	37	the	the	DET
ajfa-4025	174	38	emerging	emerge	VERB
ajfa-4025	174	39	countries	country	NOUN
ajfa-4025	174	40	.	.	PUNCT
ajfa-4025	175	1	the	the	DET
ajfa-4025	175	2	negative	negative	ADJ
ajfa-4025	175	3	correlation	correlation	NOUN
ajfa-4025	175	4	between	between	ADP
ajfa-4025	175	5	stock	stock	NOUN
ajfa-4025	175	6	returns	return	NOUN
ajfa-4025	175	7	and	and	CCONJ
ajfa-4025	175	8	implies	imply	VERB
ajfa-4025	175	9	that	that	SCONJ
ajfa-4025	175	10	the	the	DET
ajfa-4025	175	11	stock	stock	NOUN
ajfa-4025	175	12	portfolios	portfolio	NOUN
ajfa-4025	175	13	with	with	ADP
ajfa-4025	175	14	peh	peh	PROPN
ajfa-4025	175	15	,	,	PUNCT
ajfa-4025	175	16	pem	pem	NOUN
ajfa-4025	175	17	,	,	PUNCT
ajfa-4025	175	18	bml	bml	NOUN
ajfa-4025	175	19	and	and	CCONJ
ajfa-4025	175	20	meh	meh	NOUN
ajfa-4025	175	21	are	be	AUX
ajfa-4025	175	22	not	not	PART
ajfa-4025	175	23	a	a	DET
ajfa-4025	175	24	good	good	ADJ
ajfa-4025	175	25	hedge	hedge	NOUN
ajfa-4025	175	26	against	against	ADP
ajfa-4025	175	27	inflation	inflation	NOUN
ajfa-4025	175	28	.	.	PUNCT
ajfa-4025	176	1	if	if	SCONJ
ajfa-4025	176	2	we	we	PRON
ajfa-4025	176	3	now	now	ADV
ajfa-4025	176	4	look	look	VERB
ajfa-4025	176	5	at	at	ADP
ajfa-4025	176	6	the	the	DET
ajfa-4025	176	7	results	result	NOUN
ajfa-4025	176	8	for	for	ADP
ajfa-4025	176	9	sub	sub	NOUN
ajfa-4025	176	10	-	-	NOUN
ajfa-4025	176	11	period	period	NOUN
ajfa-4025	176	12	b	b	NOUN
ajfa-4025	176	13	,	,	PUNCT
ajfa-4025	176	14	a	a	DET
ajfa-4025	176	15	meh	meh	NOUN
ajfa-4025	176	16	portfolio	portfolio	NOUN
ajfa-4025	176	17	has	have	VERB
ajfa-4025	176	18	significance	significance	NOUN
ajfa-4025	176	19	and	and	CCONJ
ajfa-4025	176	20	positive	positive	ADJ
ajfa-4025	176	21	effect	effect	NOUN
ajfa-4025	176	22	to	to	PART
ajfa-4025	176	23	change	change	VERB
ajfa-4025	176	24	in	in	ADP
ajfa-4025	176	25	oil	oil	NOUN
ajfa-4025	176	26	price	price	NOUN
ajfa-4025	176	27	,	,	PUNCT
ajfa-4025	176	28	.	.	PUNCT
ajfa-4025	177	1	the	the	DET
ajfa-4025	177	2	positive	positive	ADJ
ajfa-4025	177	3	correlation	correlation	NOUN
ajfa-4025	177	4	might	might	AUX
ajfa-4025	177	5	be	be	AUX
ajfa-4025	177	6	due	due	ADJ
ajfa-4025	177	7	to	to	ADP
ajfa-4025	177	8	the	the	DET
ajfa-4025	177	9	fact	fact	NOUN
ajfa-4025	177	10	that	that	SCONJ
ajfa-4025	177	11	malaysia	malaysia	PROPN
ajfa-4025	177	12	is	be	AUX
ajfa-4025	177	13	an	an	DET
ajfa-4025	177	14	oil	oil	NOUN
ajfa-4025	177	15	exporting	export	VERB
ajfa-4025	177	16	country	country	NOUN
ajfa-4025	177	17	and	and	CCONJ
ajfa-4025	177	18	this	this	DET
ajfa-4025	177	19	result	result	NOUN
ajfa-4025	177	20	is	be	AUX
ajfa-4025	177	21	in	in	ADP
ajfa-4025	177	22	line	line	NOUN
ajfa-4025	177	23	with	with	ADP
ajfa-4025	177	24	that	that	PRON
ajfa-4025	177	25	of	of	ADP
ajfa-4025	177	26	the	the	DET
ajfa-4025	177	27	study	study	NOUN
ajfa-4025	177	28	of	of	ADP
ajfa-4025	177	29	park	park	NOUN
ajfa-4025	177	30	and	and	CCONJ
ajfa-4025	177	31	ratti	ratti	NOUN
ajfa-4025	177	32	(	(	PUNCT
ajfa-4025	177	33	2008	2008	NUM
ajfa-4025	177	34	)	)	PUNCT
ajfa-4025	177	35	,	,	PUNCT
ajfa-4025	177	36	which	which	PRON
ajfa-4025	177	37	investigated	investigate	VERB
ajfa-4025	177	38	another	another	DET
ajfa-4025	177	39	oil	oil	NOUN
ajfa-4025	177	40	exporting	export	VERB
ajfa-4025	177	41	country	country	NOUN
ajfa-4025	177	42	,	,	PUNCT
ajfa-4025	177	43	norway	norway	PROPN
ajfa-4025	177	44	,	,	PUNCT
ajfa-4025	177	45	and	and	CCONJ
ajfa-4025	177	46	found	find	VERB
ajfa-4025	177	47	positive	positive	ADJ
ajfa-4025	177	48	oil	oil	NOUN
ajfa-4025	177	49	price	price	NOUN
ajfa-4025	177	50	shock	shock	NOUN
ajfa-4025	177	51	with	with	ADP
ajfa-4025	177	52	stock	stock	NOUN
ajfa-4025	177	53	return	return	NOUN
ajfa-4025	177	54	.	.	PUNCT
ajfa-4025	178	1	moreover	moreover	ADV
ajfa-4025	178	2	,	,	PUNCT
ajfa-4025	178	3	the	the	DET
ajfa-4025	178	4	same	same	ADJ
ajfa-4025	178	5	effect	effect	NOUN
ajfa-4025	178	6	was	be	AUX
ajfa-4025	178	7	found	find	VERB
ajfa-4025	178	8	by	by	ADP
ajfa-4025	178	9	abdelaziz	abdelaziz	PROPN
ajfa-4025	178	10	,	,	PUNCT
ajfa-4025	178	11	chortareas	chortarea	NOUN
ajfa-4025	178	12	and	and	CCONJ
ajfa-4025	178	13	cipollini	cipollini	PROPN
ajfa-4025	178	14	(	(	PUNCT
ajfa-4025	178	15	2008	2008	NUM
ajfa-4025	178	16	)	)	PUNCT
ajfa-4025	178	17	for	for	ADP
ajfa-4025	178	18	the	the	DET
ajfa-4025	178	19	middle	middle	PROPN
ajfa-4025	178	20	east	east	PROPN
ajfa-4025	178	21	oil	oil	NOUN
ajfa-4025	178	22	exporting	export	VERB
ajfa-4025	178	23	countries	country	NOUN
ajfa-4025	178	24	.	.	PUNCT
ajfa-4025	179	1	asian	asian	ADJ
ajfa-4025	179	2	journal	journal	PROPN
ajfa-4025	179	3	of	of	ADP
ajfa-4025	179	4	finance	finance	PROPN
ajfa-4025	179	5	&	&	CCONJ
ajfa-4025	179	6	accounting	accounting	PROPN
ajfa-4025	179	7	issn	issn	PROPN
ajfa-4025	179	8	1946	1946	NUM
ajfa-4025	179	9	-	-	PUNCT
ajfa-4025	179	10	052x	052x	NOUN
ajfa-4025	179	11	2013	2013	NUM
ajfa-4025	179	12	,	,	PUNCT
ajfa-4025	179	13	vol	vol	NOUN
ajfa-4025	179	14	.	.	PROPN
ajfa-4025	179	15	5	5	NUM
ajfa-4025	179	16	,	,	PUNCT
ajfa-4025	179	17	no	no	INTJ
ajfa-4025	179	18	.	.	NOUN
ajfa-4025	179	19	2	2	NUM
ajfa-4025	179	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	179	21	172	172	NUM
ajfa-4025	179	22	table	table	NOUN
ajfa-4025	179	23	5	5	NUM
ajfa-4025	179	24	.	.	X
ajfa-4025	179	25	relationship	relationship	NOUN
ajfa-4025	179	26	between	between	ADP
ajfa-4025	179	27	stock	stock	NOUN
ajfa-4025	179	28	portfolio	portfolio	NOUN
ajfa-4025	179	29	and	and	CCONJ
ajfa-4025	179	30	macroeconomic	macroeconomic	ADJ
ajfa-4025	179	31	variables	variable	NOUN
ajfa-4025	179	32	for	for	ADP
ajfa-4025	179	33	malaysia	malaysia	PROPN
ajfa-4025	179	34	sub	sub	NOUN
ajfa-4025	179	35	-	-	NOUN
ajfa-4025	179	36	period	period	NOUN
ajfa-4025	179	37	a	a	DET
ajfa-4025	179	38	july	july	NOUN
ajfa-4025	179	39	2003	2003	NUM
ajfa-4025	179	40	to	to	ADP
ajfa-4025	179	41	june	june	PROPN
ajfa-4025	179	42	2008	2008	NUM
ajfa-4025	179	43	adj	adj	PROPN
ajfa-4025	179	44	r2	r2	PROPN
ajfa-4025	179	45	sub	sub	NOUN
ajfa-4025	179	46	-	-	NOUN
ajfa-4025	179	47	period	period	NOUN
ajfa-4025	179	48	bjuly	bjuly	NOUN
ajfa-4025	179	49	2007	2007	NUM
ajfa-4025	179	50	to	to	ADP
ajfa-4025	179	51	june	june	PROPN
ajfa-4025	179	52	2011	2011	NUM
ajfa-4025	179	53	adj	adj	PROPN
ajfa-4025	179	54	r2	r2	PROPN
ajfa-4025	179	55	∆inf	∆inf	PROPN
ajfa-4025	179	56	∆ipi	∆ipi	PROPN
ajfa-4025	179	57	∆ts	∆ts	NOUN
ajfa-4025	179	58	∆ms	∆ms	NOUN
ajfa-4025	179	59	∆er	∆er	NOUN
ajfa-4025	179	60	∆op	∆op	ADP
ajfa-4025	179	61	∆inf	∆inf	ADJ
ajfa-4025	179	62	∆ipi	∆ipi	PROPN
ajfa-4025	179	63	∆ts	∆ts	NOUN
ajfa-4025	179	64	∆ms	∆ms	NOUN
ajfa-4025	179	65	∆er	∆er	NOUN
ajfa-4025	179	66	∆op	∆op	ADP
ajfa-4025	179	67	peh	peh	PROPN
ajfa-4025	179	68	-0.27	-0.27	X
ajfa-4025	179	69	*	*	PROPN
ajfa-4025	179	70	0.05	0.05	NUM
ajfa-4025	179	71	0.00	0.00	NUM
ajfa-4025	179	72	0.07	0.07	NUM
ajfa-4025	179	73	-0.04	-0.04	NUM
ajfa-4025	179	74	0.12	0.12	NUM
ajfa-4025	179	75	3.3	3.3	NUM
ajfa-4025	179	76	%	%	NOUN
ajfa-4025	179	77	-0.13	-0.13	NUM
ajfa-4025	179	78	0.06	0.06	NUM
ajfa-4025	179	79	-0.04	-0.04	NUM
ajfa-4025	179	80	0.13	0.13	NUM
ajfa-4025	179	81	-0.12	-0.12	NUM
ajfa-4025	179	82	0.25	0.25	NUM
ajfa-4025	179	83	3.7	3.7	NUM
ajfa-4025	179	84	%	%	NOUN
ajfa-4025	179	85	pem	pem	NOUN
ajfa-4025	179	86	-0.32	-0.32	VERB
ajfa-4025	179	87	*	*	PROPN
ajfa-4025	179	88	*	*	NOUN
ajfa-4025	179	89	-0.01	-0.01	NUM
ajfa-4025	179	90	0.13	0.13	NUM
ajfa-4025	179	91	0.14	0.14	NUM
ajfa-4025	179	92	-0.06	-0.06	NUM
ajfa-4025	179	93	0.05	0.05	NUM
ajfa-4025	179	94	2.3	2.3	NUM
ajfa-4025	179	95	%	%	NOUN
ajfa-4025	179	96	-0.11	-0.11	NUM
ajfa-4025	179	97	0.10	0.10	NUM
ajfa-4025	179	98	0.03	0.03	NUM
ajfa-4025	179	99	0.08	0.08	NUM
ajfa-4025	179	100	-0.15	-0.15	NUM
ajfa-4025	179	101	0.17	0.17	NUM
ajfa-4025	179	102	1.1	1.1	NUM
ajfa-4025	179	103	%	%	NOUN
ajfa-4025	179	104	pel	pel	PROPN
ajfa-4025	179	105	-0.09	-0.09	NUM
ajfa-4025	179	106	-0.02	-0.02	NUM
ajfa-4025	179	107	0.13	0.13	NUM
ajfa-4025	179	108	0.06	0.06	NUM
ajfa-4025	179	109	-0.04	-0.04	NUM
ajfa-4025	179	110	0.15	0.15	NUM
ajfa-4025	179	111	7.9	7.9	NUM
ajfa-4025	179	112	%	%	NOUN
ajfa-4025	179	113	-0.07	-0.07	NUM
ajfa-4025	179	114	0.17	0.17	NUM
ajfa-4025	179	115	-0.06	-0.06	NUM
ajfa-4025	179	116	0.02	0.02	NUM
ajfa-4025	179	117	-0.16	-0.16	NUM
ajfa-4025	179	118	0.17	0.17	NUM
ajfa-4025	179	119	1.0	1.0	NUM
ajfa-4025	179	120	%	%	NOUN
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ajfa-4025	180	20	*	*	PUNCT
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ajfa-4025	182	15	)	)	PUNCT
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ajfa-4025	182	30	.	.	PUNCT
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ajfa-4025	183	6	)	)	PUNCT
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ajfa-4025	183	21	.	.	PUNCT
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ajfa-4025	184	5	(	(	PUNCT
ajfa-4025	184	6	)	)	PUNCT
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ajfa-4025	184	19	.	.	PUNCT
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ajfa-4025	185	11	mem	mem	ADJ
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ajfa-4025	185	13	.	.	PUNCT
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ajfa-4025	186	16	the	the	DET
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ajfa-4025	187	2	6	6	NUM
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ajfa-4025	187	121	*	*	PUNCT
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ajfa-4025	187	152	-0.1	-0.1	NOUN
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ajfa-4025	187	154	*	*	PUNCT
ajfa-4025	187	155	0.2288	0.2288	NUM
ajfa-4025	187	156	0.08	0.08	NUM
ajfa-4025	187	157	%	%	NOUN
ajfa-4025	187	158	-0.1	-0.1	NOUN
ajfa-4025	187	159	0	0	NUM
ajfa-4025	187	160	-0.09	-0.09	NUM
ajfa-4025	187	161	0.01	0.01	NUM
ajfa-4025	187	162	-0.46	-0.46	NUM
ajfa-4025	187	163	*	*	PUNCT
ajfa-4025	187	164	*	*	NOUN
ajfa-4025	187	165	0.30	0.30	NUM
ajfa-4025	187	166	*	*	PUNCT
ajfa-4025	187	167	*	*	PUNCT
ajfa-4025	187	168	0.21	0.21	NUM
ajfa-4025	187	169	%	%	NOUN
ajfa-4025	187	170	meh	meh	NOUN
ajfa-4025	187	171	-0.31	-0.31	X
ajfa-4025	187	172	*	*	SYM
ajfa-4025	187	173	0	0	NUM
ajfa-4025	187	174	0.18	0.18	NUM
ajfa-4025	187	175	-0.1	-0.1	NOUN
ajfa-4025	187	176	-0.262	-0.262	PUNCT
ajfa-4025	187	177	0.26	0.26	NUM
ajfa-4025	187	178	*	*	SYM
ajfa-4025	187	179	0.10	0.10	NUM
ajfa-4025	187	180	%	%	NOUN
ajfa-4025	187	181	-0.1	-0.1	PROPN
ajfa-4025	187	182	-0.1	-0.1	PROPN
ajfa-4025	187	183	-0.11	-0.11	PROPN
ajfa-4025	187	184	0.02	0.02	NUM
ajfa-4025	187	185	-0.50	-0.50	NUM
ajfa-4025	187	186	*	*	PROPN
ajfa-4025	187	187	*	*	PROPN
ajfa-4025	187	188	0.28	0.28	NUM
ajfa-4025	187	189	*	*	NOUN
ajfa-4025	187	190	*	*	PUNCT
ajfa-4025	187	191	0.25	0.25	NUM
ajfa-4025	187	192	%	%	NOUN
ajfa-4025	187	193	mem	mem	VERB
ajfa-4025	187	194	-0.48	-0.48	NOUN
ajfa-4025	187	195	*	*	NOUN
ajfa-4025	187	196	*	*	PROPN
ajfa-4025	187	197	-0.2	-0.2	NUM
ajfa-4025	187	198	0.35	0.35	NUM
ajfa-4025	187	199	*	*	PUNCT
ajfa-4025	187	200	*	*	NOUN
ajfa-4025	187	201	0	0	PUNCT
ajfa-4025	188	1	-0.38	-0.38	NOUN
ajfa-4025	188	2	*	*	NOUN
ajfa-4025	188	3	*	*	NOUN
ajfa-4025	188	4	0.25	0.25	NUM
ajfa-4025	188	5	*	*	PUNCT
ajfa-4025	188	6	0.26	0.26	NUM
ajfa-4025	188	7	%	%	NOUN
ajfa-4025	188	8	0	0	NUM
ajfa-4025	188	9	0.12	0.12	NUM
ajfa-4025	188	10	-0.07	-0.07	NUM
ajfa-4025	188	11	0.13	0.13	NUM
ajfa-4025	188	12	-0.52	-0.52	PROPN
ajfa-4025	188	13	*	*	PROPN
ajfa-4025	188	14	*	*	NOUN
ajfa-4025	188	15	0.24	0.24	NUM
ajfa-4025	188	16	*	*	PUNCT
ajfa-4025	188	17	*	*	PUNCT
ajfa-4025	188	18	0.23	0.23	NUM
ajfa-4025	188	19	%	%	NOUN
ajfa-4025	188	20	mel	mel	PROPN
ajfa-4025	188	21	-0.2	-0.2	PROPN
ajfa-4025	188	22	0	0	NUM
ajfa-4025	188	23	0	0	NUM
ajfa-4025	188	24	-0.2	-0.2	NOUN
ajfa-4025	188	25	-0.251	-0.251	NUM
ajfa-4025	188	26	0.1287	0.1287	NUM
ajfa-4025	188	27	0.03	0.03	NUM
ajfa-4025	188	28	%	%	NOUN
ajfa-4025	188	29	0.05	0.05	NUM
ajfa-4025	188	30	0.13	0.13	NUM
ajfa-4025	188	31	0.017	0.017	NUM
ajfa-4025	188	32	0.03	0.03	NUM
ajfa-4025	188	33	-0.39	-0.39	NOUN
ajfa-4025	188	34	*	*	PUNCT
ajfa-4025	188	35	*	*	PUNCT
ajfa-4025	188	36	-0.013	-0.013	PUNCT
ajfa-4025	188	37	0.05	0.05	NUM
ajfa-4025	188	38	%	%	NOUN
ajfa-4025	188	39	sub	sub	NOUN
ajfa-4025	188	40	-	-	NOUN
ajfa-4025	188	41	period	period	NOUN
ajfa-4025	188	42	a	a	DET
ajfa-4025	188	43	july	july	NOUN
ajfa-4025	188	44	2003	2003	NUM
ajfa-4025	188	45	to	to	ADP
ajfa-4025	188	46	june	june	PROPN
ajfa-4025	188	47	2007	2007	NUM
ajfa-4025	188	48	notes	note	VERB
ajfa-4025	188	49	:	:	PUNCT
ajfa-4025	188	50	*	*	PUNCT
ajfa-4025	188	51	*	*	PUNCT
ajfa-4025	188	52	and	and	CCONJ
ajfa-4025	188	53	*	*	PUNCT
ajfa-4025	188	54	denote	denote	NOUN
ajfa-4025	188	55	significance	significance	NOUN
ajfa-4025	188	56	at	at	ADP
ajfa-4025	188	57	the	the	DET
ajfa-4025	188	58	5	5	NUM
ajfa-4025	188	59	%	%	NOUN
ajfa-4025	188	60	and	and	CCONJ
ajfa-4025	188	61	10	10	NUM
ajfa-4025	188	62	%	%	NOUN
ajfa-4025	188	63	,	,	PUNCT
ajfa-4025	188	64	level	level	NOUN
ajfa-4025	188	65	respectively	respectively	ADV
ajfa-4025	188	66	.	.	PUNCT
ajfa-4025	189	1	in	in	ADP
ajfa-4025	189	2	sub	sub	NOUN
ajfa-4025	189	3	-	-	NOUN
ajfa-4025	189	4	period	period	NOUN
ajfa-4025	189	5	a	a	PRON
ajfa-4025	189	6	,	,	PUNCT
ajfa-4025	189	7	the	the	DET
ajfa-4025	189	8	positive	positive	ADJ
ajfa-4025	189	9	significant	significant	ADJ
ajfa-4025	189	10	relationship	relationship	NOUN
ajfa-4025	189	11	between	between	ADP
ajfa-4025	189	12	stock	stock	NOUN
ajfa-4025	189	13	return	return	NOUN
ajfa-4025	189	14	and	and	CCONJ
ajfa-4025	189	15	in	in	ADP
ajfa-4025	189	16	indonesia	indonesia	PROPN
ajfa-4025	189	17	is	be	AUX
ajfa-4025	189	18	in	in	ADP
ajfa-4025	189	19	line	line	NOUN
ajfa-4025	189	20	with	with	ADP
ajfa-4025	189	21	a	a	DET
ajfa-4025	189	22	number	number	NOUN
ajfa-4025	189	23	of	of	ADP
ajfa-4025	189	24	previous	previous	ADJ
ajfa-4025	189	25	empirical	empirical	ADJ
ajfa-4025	189	26	studies	study	NOUN
ajfa-4025	189	27	(	(	PUNCT
ajfa-4025	189	28	nandha	nandha	NOUN
ajfa-4025	189	29	and	and	CCONJ
ajfa-4025	189	30	hammoudeh	hammoudeh	NOUN
ajfa-4025	189	31	,	,	PUNCT
ajfa-4025	189	32	2006	2006	NUM
ajfa-4025	189	33	;	;	PUNCT
ajfa-4025	189	34	ghorbel	ghorbel	NOUN
ajfa-4025	189	35	and	and	CCONJ
ajfa-4025	189	36	younes	youne	NOUN
ajfa-4025	189	37	,	,	PUNCT
ajfa-4025	189	38	2011	2011	NUM
ajfa-4025	189	39	)	)	PUNCT
ajfa-4025	189	40	.	.	PUNCT
ajfa-4025	190	1	indonesia	indonesia	PROPN
ajfa-4025	190	2	is	be	AUX
ajfa-4025	190	3	a	a	DET
ajfa-4025	190	4	net	net	ADJ
ajfa-4025	190	5	exporter	exporter	NOUN
ajfa-4025	190	6	of	of	ADP
ajfa-4025	190	7	oil	oil	NOUN
ajfa-4025	190	8	,	,	PUNCT
ajfa-4025	190	9	but	but	CCONJ
ajfa-4025	190	10	the	the	DET
ajfa-4025	190	11	country	country	NOUN
ajfa-4025	190	12	has	have	AUX
ajfa-4025	190	13	been	be	AUX
ajfa-4025	190	14	pulling	pull	VERB
ajfa-4025	190	15	out	out	ADP
ajfa-4025	190	16	from	from	ADP
ajfa-4025	190	17	opec	opec	PROPN
ajfa-4025	190	18	and	and	CCONJ
ajfa-4025	190	19	became	become	VERB
ajfa-4025	190	20	self	self	NOUN
ajfa-4025	190	21	-	-	PUNCT
ajfa-4025	190	22	sufficient	sufficient	ADJ
ajfa-4025	190	23	during	during	ADP
ajfa-4025	190	24	2008	2008	NUM
ajfa-4025	190	25	.	.	PUNCT
ajfa-4025	191	1	in	in	ADP
ajfa-4025	191	2	sub	sub	NOUN
ajfa-4025	191	3	-	-	NOUN
ajfa-4025	191	4	period	period	NOUN
ajfa-4025	191	5	b	b	NOUN
ajfa-4025	191	6	,	,	PUNCT
ajfa-4025	191	7	is	be	AUX
ajfa-4025	191	8	asian	asian	ADJ
ajfa-4025	191	9	journal	journal	NOUN
ajfa-4025	191	10	of	of	ADP
ajfa-4025	191	11	finance	finance	PROPN
ajfa-4025	191	12	&	&	CCONJ
ajfa-4025	191	13	accounting	accounting	PROPN
ajfa-4025	191	14	issn	issn	PROPN
ajfa-4025	191	15	1946	1946	NUM
ajfa-4025	191	16	-	-	PUNCT
ajfa-4025	191	17	052x	052x	NOUN
ajfa-4025	191	18	2013	2013	NUM
ajfa-4025	191	19	,	,	PUNCT
ajfa-4025	191	20	vol	vol	NOUN
ajfa-4025	191	21	.	.	PROPN
ajfa-4025	191	22	5	5	NUM
ajfa-4025	191	23	,	,	PUNCT
ajfa-4025	191	24	no	no	INTJ
ajfa-4025	191	25	.	.	NOUN
ajfa-4025	191	26	2	2	NUM
ajfa-4025	191	27	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	191	28	173	173	NUM
ajfa-4025	191	29	negatively	negatively	ADV
ajfa-4025	191	30	correlated	correlate	VERB
ajfa-4025	191	31	with	with	ADP
ajfa-4025	191	32	all	all	DET
ajfa-4025	191	33	portfolios	portfolio	NOUN
ajfa-4025	191	34	in	in	ADP
ajfa-4025	191	35	indonesia	indonesia	PROPN
ajfa-4025	191	36	.	.	PUNCT
ajfa-4025	192	1	this	this	PRON
ajfa-4025	192	2	further	far	ADV
ajfa-4025	192	3	emphasizes	emphasize	VERB
ajfa-4025	192	4	the	the	DET
ajfa-4025	192	5	crucial	crucial	ADJ
ajfa-4025	192	6	role	role	NOUN
ajfa-4025	192	7	of	of	ADP
ajfa-4025	192	8	the	the	DET
ajfa-4025	192	9	exchange	exchange	NOUN
ajfa-4025	192	10	rate	rate	NOUN
ajfa-4025	192	11	with	with	ADP
ajfa-4025	192	12	respect	respect	NOUN
ajfa-4025	192	13	to	to	ADP
ajfa-4025	192	14	stock	stock	NOUN
ajfa-4025	192	15	return	return	NOUN
ajfa-4025	192	16	during	during	ADP
ajfa-4025	192	17	the	the	DET
ajfa-4025	192	18	crisis	crisis	NOUN
ajfa-4025	192	19	and	and	CCONJ
ajfa-4025	192	20	post	post	ADJ
ajfa-4025	192	21	-	-	ADJ
ajfa-4025	192	22	crisis	crisis	NOUN
ajfa-4025	192	23	period	period	NOUN
ajfa-4025	192	24	.	.	PUNCT
ajfa-4025	193	1	while	while	SCONJ
ajfa-4025	193	2	for	for	ADP
ajfa-4025	193	3	,	,	PUNCT
ajfa-4025	193	4	the	the	DET
ajfa-4025	193	5	result	result	NOUN
ajfa-4025	193	6	shows	show	VERB
ajfa-4025	193	7	that	that	PRON
ajfa-4025	193	8	is	be	AUX
ajfa-4025	193	9	positively	positively	ADV
ajfa-4025	193	10	correlated	correlate	VERB
ajfa-4025	193	11	with	with	ADP
ajfa-4025	193	12	peh	peh	PROPN
ajfa-4025	193	13	,	,	PUNCT
ajfa-4025	193	14	pel	pel	PROPN
ajfa-4025	193	15	,	,	PUNCT
ajfa-4025	193	16	bml	bml	NOUN
ajfa-4025	193	17	,	,	PUNCT
ajfa-4025	193	18	meh	meh	NOUN
ajfa-4025	193	19	and	and	CCONJ
ajfa-4025	193	20	mem	mem	PROPN
ajfa-4025	193	21	.	.	PUNCT
ajfa-4025	193	22	shows	show	VERB
ajfa-4025	193	23	a	a	DET
ajfa-4025	193	24	negative	negative	ADJ
ajfa-4025	193	25	correlation	correlation	NOUN
ajfa-4025	193	26	,	,	PUNCT
ajfa-4025	193	27	which	which	PRON
ajfa-4025	193	28	is	be	AUX
ajfa-4025	193	29	different	different	ADJ
ajfa-4025	193	30	to	to	ADP
ajfa-4025	193	31	the	the	DET
ajfa-4025	193	32	result	result	NOUN
ajfa-4025	193	33	for	for	ADP
ajfa-4025	193	34	sub	sub	NOUN
ajfa-4025	193	35	-	-	NOUN
ajfa-4025	193	36	period	period	NOUN
ajfa-4025	193	37	a.	a.	NOUN
ajfa-4025	193	38	the	the	DET
ajfa-4025	193	39	negative	negative	ADJ
ajfa-4025	193	40	correlation	correlation	NOUN
ajfa-4025	193	41	of	of	ADP
ajfa-4025	193	42	is	be	AUX
ajfa-4025	193	43	in	in	ADP
ajfa-4025	193	44	line	line	NOUN
ajfa-4025	193	45	with	with	ADP
ajfa-4025	193	46	the	the	DET
ajfa-4025	193	47	chen	chen	PROPN
ajfa-4025	193	48	,	,	PUNCT
ajfa-4025	193	49	roll	roll	NOUN
ajfa-4025	193	50	and	and	CCONJ
ajfa-4025	193	51	ross	ross	PROPN
ajfa-4025	193	52	(	(	PUNCT
ajfa-4025	193	53	1986	1986	NUM
ajfa-4025	193	54	)	)	PUNCT
ajfa-4025	193	55	and	and	CCONJ
ajfa-4025	193	56	with	with	ADP
ajfa-4025	193	57	our	our	PRON
ajfa-4025	193	58	present	present	ADJ
ajfa-4025	193	59	findings	finding	NOUN
ajfa-4025	193	60	for	for	ADP
ajfa-4025	193	61	thailand	thailand	PROPN
ajfa-4025	193	62	for	for	ADP
ajfa-4025	193	63	sub	sub	NOUN
ajfa-4025	193	64	-	-	NOUN
ajfa-4025	193	65	period	period	ADJ
ajfa-4025	193	66	b.	b.	PROPN
ajfa-4025	193	67	table	table	NOUN
ajfa-4025	193	68	7	7	NUM
ajfa-4025	193	69	results	result	NOUN
ajfa-4025	193	70	shows	show	VERB
ajfa-4025	193	71	that	that	SCONJ
ajfa-4025	193	72	for	for	ADP
ajfa-4025	193	73	singapore	singapore	PROPN
ajfa-4025	193	74	in	in	ADP
ajfa-4025	193	75	sub	sub	NOUN
ajfa-4025	193	76	-	-	NOUN
ajfa-4025	193	77	period	period	NOUN
ajfa-4025	193	78	a	a	PRON
ajfa-4025	193	79	,	,	PUNCT
ajfa-4025	193	80	change	change	NOUN
ajfa-4025	193	81	in	in	ADP
ajfa-4025	193	82	exchange	exchange	NOUN
ajfa-4025	193	83	rate	rate	NOUN
ajfa-4025	193	84	,	,	PUNCT
ajfa-4025	193	85	has	have	VERB
ajfa-4025	193	86	a	a	DET
ajfa-4025	193	87	significant	significant	ADJ
ajfa-4025	193	88	effect	effect	NOUN
ajfa-4025	193	89	on	on	ADP
ajfa-4025	193	90	a	a	DET
ajfa-4025	193	91	number	number	NOUN
ajfa-4025	193	92	of	of	ADP
ajfa-4025	193	93	portfolios	portfolio	NOUN
ajfa-4025	193	94	in	in	ADP
ajfa-4025	193	95	our	our	PRON
ajfa-4025	193	96	analysis	analysis	NOUN
ajfa-4025	193	97	.	.	PUNCT
ajfa-4025	194	1	from	from	ADP
ajfa-4025	194	2	our	our	PRON
ajfa-4025	194	3	regression	regression	NOUN
ajfa-4025	194	4	results	result	NOUN
ajfa-4025	194	5	,	,	PUNCT
ajfa-4025	194	6	it	it	PRON
ajfa-4025	194	7	can	can	AUX
ajfa-4025	194	8	be	be	AUX
ajfa-4025	194	9	seen	see	VERB
ajfa-4025	194	10	that	that	PRON
ajfa-4025	194	11	shows	show	VERB
ajfa-4025	194	12	significant	significant	ADJ
ajfa-4025	194	13	negative	negative	ADJ
ajfa-4025	194	14	correlation	correlation	NOUN
ajfa-4025	194	15	for	for	ADP
ajfa-4025	194	16	the	the	DET
ajfa-4025	194	17	pem	pem	NOUN
ajfa-4025	194	18	,	,	PUNCT
ajfa-4025	194	19	pel	pel	PROPN
ajfa-4025	194	20	,	,	PUNCT
ajfa-4025	194	21	bmm	bmm	PROPN
ajfa-4025	194	22	and	and	CCONJ
ajfa-4025	194	23	meh	meh	NOUN
ajfa-4025	194	24	portfolios	portfolio	NOUN
ajfa-4025	194	25	.	.	PUNCT
ajfa-4025	195	1	the	the	DET
ajfa-4025	195	2	negative	negative	ADJ
ajfa-4025	195	3	correlation	correlation	NOUN
ajfa-4025	195	4	indicates	indicate	VERB
ajfa-4025	195	5	that	that	SCONJ
ajfa-4025	195	6	the	the	DET
ajfa-4025	195	7	appreciation	appreciation	NOUN
ajfa-4025	195	8	in	in	ADP
ajfa-4025	195	9	the	the	DET
ajfa-4025	195	10	singapore	singapore	PROPN
ajfa-4025	195	11	dollar	dollar	NOUN
ajfa-4025	195	12	leads	lead	VERB
ajfa-4025	195	13	to	to	ADP
ajfa-4025	195	14	a	a	DET
ajfa-4025	195	15	positive	positive	ADJ
ajfa-4025	195	16	effect	effect	NOUN
ajfa-4025	195	17	on	on	ADP
ajfa-4025	195	18	stock	stock	NOUN
ajfa-4025	195	19	return	return	NOUN
ajfa-4025	195	20	.	.	PUNCT
ajfa-4025	196	1	this	this	DET
ajfa-4025	196	2	result	result	NOUN
ajfa-4025	196	3	is	be	AUX
ajfa-4025	196	4	in	in	ADP
ajfa-4025	196	5	line	line	NOUN
ajfa-4025	196	6	with	with	ADP
ajfa-4025	196	7	the	the	DET
ajfa-4025	196	8	findings	finding	NOUN
ajfa-4025	196	9	of	of	ADP
ajfa-4025	196	10	maysami	maysami	PROPN
ajfa-4025	196	11	and	and	CCONJ
ajfa-4025	196	12	koh	koh	PROPN
ajfa-4025	196	13	(	(	PUNCT
ajfa-4025	196	14	2000	2000	NUM
ajfa-4025	196	15	)	)	PUNCT
ajfa-4025	196	16	and	and	CCONJ
ajfa-4025	196	17	maysami	maysami	PROPN
ajfa-4025	196	18	,	,	PUNCT
ajfa-4025	196	19	howe	howe	NOUN
ajfa-4025	196	20	and	and	CCONJ
ajfa-4025	196	21	hamzah	hamzah	PROPN
ajfa-4025	196	22	(	(	PUNCT
ajfa-4025	196	23	2004	2004	NUM
ajfa-4025	196	24	)	)	PUNCT
ajfa-4025	196	25	.	.	PUNCT
ajfa-4025	197	1	they	they	PRON
ajfa-4025	197	2	explain	explain	VERB
ajfa-4025	197	3	that	that	SCONJ
ajfa-4025	197	4	singapore	singapore	PROPN
ajfa-4025	197	5	is	be	AUX
ajfa-4025	197	6	a	a	DET
ajfa-4025	197	7	high	high	ADJ
ajfa-4025	197	8	import	import	NOUN
ajfa-4025	197	9	and	and	CCONJ
ajfa-4025	197	10	export	export	NOUN
ajfa-4025	197	11	country	country	NOUN
ajfa-4025	197	12	and	and	CCONJ
ajfa-4025	197	13	appreciation	appreciation	NOUN
ajfa-4025	197	14	in	in	ADP
ajfa-4025	197	15	the	the	DET
ajfa-4025	197	16	currency	currency	NOUN
ajfa-4025	197	17	enables	enable	VERB
ajfa-4025	197	18	the	the	DET
ajfa-4025	197	19	country	country	NOUN
ajfa-4025	197	20	to	to	PART
ajfa-4025	197	21	access	access	VERB
ajfa-4025	197	22	lower	lower	ADV
ajfa-4025	197	23	-	-	PUNCT
ajfa-4025	197	24	priced	price	VERB
ajfa-4025	197	25	imported	import	VERB
ajfa-4025	197	26	raw	raw	ADJ
ajfa-4025	197	27	material	material	NOUN
ajfa-4025	197	28	,	,	PUNCT
ajfa-4025	197	29	which	which	PRON
ajfa-4025	197	30	allows	allow	VERB
ajfa-4025	197	31	domestic	domestic	ADJ
ajfa-4025	197	32	producers	producer	NOUN
ajfa-4025	197	33	to	to	PART
ajfa-4025	197	34	be	be	AUX
ajfa-4025	197	35	more	more	ADV
ajfa-4025	197	36	competitive	competitive	ADJ
ajfa-4025	197	37	in	in	ADP
ajfa-4025	197	38	the	the	DET
ajfa-4025	197	39	international	international	ADJ
ajfa-4025	197	40	arena	arena	NOUN
ajfa-4025	197	41	in	in	ADP
ajfa-4025	197	42	turn	turn	NOUN
ajfa-4025	197	43	attract	attract	VERB
ajfa-4025	197	44	more	more	ADJ
ajfa-4025	197	45	investor	investor	NOUN
ajfa-4025	197	46	and	and	CCONJ
ajfa-4025	197	47	thus	thus	ADV
ajfa-4025	197	48	increase	increase	VERB
ajfa-4025	197	49	in	in	ADP
ajfa-4025	197	50	stock	stock	NOUN
ajfa-4025	197	51	price	price	NOUN
ajfa-4025	197	52	.	.	PUNCT
ajfa-4025	198	1	sub	sub	NOUN
ajfa-4025	198	2	-	-	NOUN
ajfa-4025	198	3	period	period	NOUN
ajfa-4025	198	4	a	a	DET
ajfa-4025	198	5	further	further	ADJ
ajfa-4025	198	6	highlight	highlight	NOUN
ajfa-4025	198	7	that	that	SCONJ
ajfa-4025	198	8	mel	mel	PROPN
ajfa-4025	198	9	portfolio	portfolio	PROPN
ajfa-4025	198	10	is	be	AUX
ajfa-4025	198	11	positively	positively	ADV
ajfa-4025	198	12	correlated	correlate	VERB
ajfa-4025	198	13	to	to	ADP
ajfa-4025	198	14	term	term	NOUN
ajfa-4025	198	15	structure	structure	NOUN
ajfa-4025	198	16	,	,	PUNCT
ajfa-4025	198	17	.	.	PUNCT
ajfa-4025	199	1	this	this	DET
ajfa-4025	199	2	positive	positive	ADJ
ajfa-4025	199	3	correlation	correlation	NOUN
ajfa-4025	199	4	finding	finding	NOUN
ajfa-4025	199	5	is	be	AUX
ajfa-4025	199	6	different	different	ADJ
ajfa-4025	199	7	from	from	ADP
ajfa-4025	199	8	chen	chen	PROPN
ajfa-4025	199	9	,	,	PUNCT
ajfa-4025	199	10	roll	roll	NOUN
ajfa-4025	199	11	and	and	CCONJ
ajfa-4025	199	12	ross	ross	PROPN
ajfa-4025	199	13	(	(	PUNCT
ajfa-4025	199	14	1986	1986	NUM
ajfa-4025	199	15	)	)	PUNCT
ajfa-4025	199	16	.	.	PUNCT
ajfa-4025	200	1	however	however	ADV
ajfa-4025	200	2	,	,	PUNCT
ajfa-4025	200	3	canova	canova	PROPN
ajfa-4025	200	4	and	and	CCONJ
ajfa-4025	200	5	denicolo	denicolo	PROPN
ajfa-4025	200	6	(	(	PUNCT
ajfa-4025	200	7	2000	2000	NUM
ajfa-4025	200	8	)	)	PUNCT
ajfa-4025	200	9	explain	explain	VERB
ajfa-4025	200	10	that	that	SCONJ
ajfa-4025	200	11	term	term	NOUN
ajfa-4025	200	12	structure	structure	NOUN
ajfa-4025	200	13	is	be	AUX
ajfa-4025	200	14	related	relate	VERB
ajfa-4025	200	15	to	to	ADP
ajfa-4025	200	16	the	the	DET
ajfa-4025	200	17	future	future	ADJ
ajfa-4025	200	18	development	development	NOUN
ajfa-4025	200	19	of	of	ADP
ajfa-4025	200	20	the	the	DET
ajfa-4025	200	21	economy	economy	NOUN
ajfa-4025	200	22	and	and	CCONJ
ajfa-4025	200	23	a	a	DET
ajfa-4025	200	24	steeper	steep	ADJ
ajfa-4025	200	25	term	term	NOUN
ajfa-4025	200	26	structure	structure	NOUN
ajfa-4025	200	27	curve	curve	NOUN
ajfa-4025	200	28	is	be	AUX
ajfa-4025	200	29	associated	associate	VERB
ajfa-4025	200	30	with	with	ADP
ajfa-4025	200	31	higher	high	ADJ
ajfa-4025	200	32	growth	growth	NOUN
ajfa-4025	200	33	of	of	ADP
ajfa-4025	200	34	the	the	DET
ajfa-4025	200	35	industrial	industrial	ADJ
ajfa-4025	200	36	sector	sector	NOUN
ajfa-4025	200	37	and	and	CCONJ
ajfa-4025	200	38	lower	low	ADJ
ajfa-4025	200	39	inflation	inflation	NOUN
ajfa-4025	200	40	.	.	PUNCT
ajfa-4025	201	1	high	high	ADJ
ajfa-4025	201	2	growth	growth	NOUN
ajfa-4025	201	3	of	of	ADP
ajfa-4025	201	4	the	the	DET
ajfa-4025	201	5	industrial	industrial	ADJ
ajfa-4025	201	6	sector	sector	NOUN
ajfa-4025	201	7	and	and	CCONJ
ajfa-4025	201	8	low	low	ADJ
ajfa-4025	201	9	inflation	inflation	NOUN
ajfa-4025	201	10	are	be	AUX
ajfa-4025	201	11	perceived	perceive	VERB
ajfa-4025	201	12	as	as	ADP
ajfa-4025	201	13	favourable	favourable	ADJ
ajfa-4025	201	14	news	news	NOUN
ajfa-4025	201	15	in	in	ADP
ajfa-4025	201	16	the	the	DET
ajfa-4025	201	17	stock	stock	NOUN
ajfa-4025	201	18	market	market	NOUN
ajfa-4025	201	19	and	and	CCONJ
ajfa-4025	201	20	thus	thus	ADV
ajfa-4025	201	21	generate	generate	VERB
ajfa-4025	201	22	a	a	DET
ajfa-4025	201	23	positive	positive	ADJ
ajfa-4025	201	24	shock	shock	NOUN
ajfa-4025	201	25	to	to	ADP
ajfa-4025	201	26	the	the	DET
ajfa-4025	201	27	stock	stock	NOUN
ajfa-4025	201	28	market	market	NOUN
ajfa-4025	201	29	return	return	NOUN
ajfa-4025	201	30	.	.	PUNCT
ajfa-4025	202	1	table	table	NOUN
ajfa-4025	202	2	7	7	NUM
ajfa-4025	202	3	.	.	X
ajfa-4025	202	4	relationship	relationship	NOUN
ajfa-4025	202	5	between	between	ADP
ajfa-4025	202	6	stock	stock	NOUN
ajfa-4025	202	7	portfolio	portfolio	NOUN
ajfa-4025	202	8	and	and	CCONJ
ajfa-4025	202	9	macroeconomic	macroeconomic	ADJ
ajfa-4025	202	10	variables	variable	NOUN
ajfa-4025	202	11	for	for	ADP
ajfa-4025	202	12	singapore	singapore	PROPN
ajfa-4025	202	13	sub	sub	NOUN
ajfa-4025	202	14	-	-	NOUN
ajfa-4025	202	15	period	period	NOUN
ajfa-4025	202	16	a	a	DET
ajfa-4025	202	17	july	july	NOUN
ajfa-4025	202	18	2003	2003	NUM
ajfa-4025	202	19	to	to	ADP
ajfa-4025	202	20	june	june	PROPN
ajfa-4025	202	21	2008	2008	NUM
ajfa-4025	202	22	adj	adj	PROPN
ajfa-4025	202	23	r2	r2	PROPN
ajfa-4025	202	24	sub	sub	NOUN
ajfa-4025	202	25	-	-	NOUN
ajfa-4025	202	26	period	period	NOUN
ajfa-4025	202	27	bjuly	bjuly	NOUN
ajfa-4025	202	28	2007	2007	NUM
ajfa-4025	202	29	to	to	ADP
ajfa-4025	202	30	june	june	PROPN
ajfa-4025	202	31	2011	2011	NUM
ajfa-4025	202	32	adj	adj	PROPN
ajfa-4025	202	33	r2	r2	PROPN
ajfa-4025	202	34	∆inf	∆inf	PROPN
ajfa-4025	202	35	∆ipi	∆ipi	PROPN
ajfa-4025	202	36	∆ts	∆ts	NOUN
ajfa-4025	202	37	∆ms	∆ms	NOUN
ajfa-4025	202	38	∆er	∆er	NOUN
ajfa-4025	202	39	∆op	∆op	ADP
ajfa-4025	202	40	∆inf	∆inf	ADJ
ajfa-4025	202	41	∆ipi	∆ipi	PROPN
ajfa-4025	202	42	∆ts	∆ts	NOUN
ajfa-4025	202	43	∆ms	∆ms	NOUN
ajfa-4025	202	44	∆er	∆er	NOUN
ajfa-4025	202	45	∆op	∆op	ADP
ajfa-4025	202	46	peh	peh	PROPN
ajfa-4025	202	47	0.12	0.12	NUM
ajfa-4025	202	48	0.04	0.04	NUM
ajfa-4025	202	49	0.18	0.18	NUM
ajfa-4025	202	50	0.15	0.15	NUM
ajfa-4025	202	51	-0.17	-0.17	NOUN
ajfa-4025	202	52	-0.08	-0.08	NUM
ajfa-4025	202	53	3.2	3.2	NUM
ajfa-4025	202	54	%	%	NOUN
ajfa-4025	202	55	-0.17	-0.17	NOUN
ajfa-4025	202	56	0.10	0.10	NUM
ajfa-4025	202	57	0.01	0.01	NUM
ajfa-4025	202	58	-0.17	-0.17	NOUN
ajfa-4025	202	59	-0.17	-0.17	PROPN
ajfa-4025	202	60	0.30	0.30	NUM
ajfa-4025	202	61	*	*	SYM
ajfa-4025	202	62	5.6	5.6	NUM
ajfa-4025	202	63	%	%	NOUN
ajfa-4025	202	64	pem	pem	NOUN
ajfa-4025	202	65	0.01	0.01	NUM
ajfa-4025	202	66	0.10	0.10	NUM
ajfa-4025	202	67	0.16	0.16	NUM
ajfa-4025	202	68	0.13	0.13	NUM
ajfa-4025	202	69	-0.31	-0.31	PROPN
ajfa-4025	202	70	*	*	PUNCT
ajfa-4025	202	71	*	*	NOUN
ajfa-4025	202	72	0.19	0.19	NUM
ajfa-4025	202	73	4.5	4.5	NUM
ajfa-4025	202	74	%	%	NOUN
ajfa-4025	202	75	-0.19	-0.19	NOUN
ajfa-4025	202	76	0.11	0.11	NUM
ajfa-4025	202	77	-0.05	-0.05	NUM
ajfa-4025	202	78	-0.11	-0.11	NUM
ajfa-4025	202	79	-0.13	-0.13	NUM
ajfa-4025	202	80	0.28	0.28	NUM
ajfa-4025	202	81	*	*	SYM
ajfa-4025	202	82	1.3	1.3	NUM
ajfa-4025	202	83	%	%	NOUN
ajfa-4025	202	84	pel	pel	PROPN
ajfa-4025	202	85	0.01	0.01	NUM
ajfa-4025	202	86	-0.03	-0.03	NUM
ajfa-4025	202	87	0.21	0.21	NUM
ajfa-4025	202	88	0.09	0.09	NUM
ajfa-4025	202	89	-0.30	-0.30	PROPN
ajfa-4025	202	90	*	*	PUNCT
ajfa-4025	202	91	0.06	0.06	NUM
ajfa-4025	202	92	1.1	1.1	NUM
ajfa-4025	202	93	%	%	NOUN
ajfa-4025	202	94	-0.12	-0.12	NUM
ajfa-4025	202	95	0.06	0.06	NUM
ajfa-4025	202	96	0.09	0.09	NUM
ajfa-4025	202	97	-0.08	-0.08	NUM
ajfa-4025	202	98	-0.14	-0.14	NUM
ajfa-4025	202	99	0.285	0.285	NUM
ajfa-4025	202	100	1.0	1.0	NUM
ajfa-4025	202	101	%	%	NOUN
ajfa-4025	202	102	bmh	bmh	PROPN
ajfa-4025	202	103	-0.04	-0.04	NUM
ajfa-4025	202	104	0.03	0.03	NUM
ajfa-4025	202	105	0.16	0.16	NUM
ajfa-4025	202	106	0.20	0.20	NUM
ajfa-4025	202	107	-0.129	-0.129	NUM
ajfa-4025	202	108	0.06	0.06	NUM
ajfa-4025	202	109	4.4	4.4	NUM
ajfa-4025	202	110	%	%	NOUN
ajfa-4025	202	111	-0.20	-0.20	NUM
ajfa-4025	202	112	0.10	0.10	NUM
ajfa-4025	202	113	0.08	0.08	NUM
ajfa-4025	202	114	-0.04	-0.04	NUM
ajfa-4025	202	115	-0.18	-0.18	NUM
ajfa-4025	202	116	0.27	0.27	NUM
ajfa-4025	202	117	*	*	NOUN
ajfa-4025	202	118	*	*	PROPN
ajfa-4025	202	119	3.5	3.5	NUM
ajfa-4025	202	120	%	%	NOUN
ajfa-4025	202	121	bmm	bmm	PROPN
ajfa-4025	202	122	0.09	0.09	NUM
ajfa-4025	202	123	0.09	0.09	NUM
ajfa-4025	202	124	0.22	0.22	NUM
ajfa-4025	202	125	0.12	0.12	NUM
ajfa-4025	202	126	-0.36	-0.36	NUM
ajfa-4025	202	127	*	*	NOUN
ajfa-4025	202	128	*	*	NOUN
ajfa-4025	202	129	-0.01	-0.01	NUM
ajfa-4025	202	130	7.2	7.2	NUM
ajfa-4025	202	131	%	%	NOUN
ajfa-4025	202	132	-0.13	-0.13	NUM
ajfa-4025	202	133	0.09	0.09	NUM
ajfa-4025	202	134	0.00	0.00	NUM
ajfa-4025	202	135	-0.11	-0.11	NUM
ajfa-4025	202	136	-0.11	-0.11	NUM
ajfa-4025	202	137	0.267	0.267	NUM
ajfa-4025	202	138	1.9	1.9	NUM
ajfa-4025	202	139	%	%	NOUN
ajfa-4025	202	140	bml	bml	NOUN
ajfa-4025	202	141	0.09	0.09	NUM
ajfa-4025	202	142	0.05	0.05	NUM
ajfa-4025	202	143	0.18	0.18	NUM
ajfa-4025	202	144	0.15	0.15	NUM
ajfa-4025	202	145	-0.24	-0.24	NUM
ajfa-4025	202	146	0.12	0.12	NUM
ajfa-4025	202	147	0.1	0.1	NUM
ajfa-4025	202	148	%	%	NOUN
ajfa-4025	202	149	-0.18	-0.18	NUM
ajfa-4025	202	150	0.09	0.09	NUM
ajfa-4025	202	151	-0.01	-0.01	NUM
ajfa-4025	202	152	-0.20	-0.20	NUM
ajfa-4025	202	153	-0.17	-0.17	ADJ
ajfa-4025	202	154	0.32	0.32	NUM
ajfa-4025	202	155	*	*	SYM
ajfa-4025	202	156	6.9	6.9	NUM
ajfa-4025	202	157	%	%	NOUN
ajfa-4025	202	158	meh	meh	NOUN
ajfa-4025	202	159	0.10	0.10	NUM
ajfa-4025	202	160	0.09	0.09	NUM
ajfa-4025	202	161	0.18	0.18	NUM
ajfa-4025	202	162	0.16	0.16	NUM
ajfa-4025	202	163	-0.32	-0.32	VERB
ajfa-4025	202	164	*	*	PROPN
ajfa-4025	202	165	*	*	NOUN
ajfa-4025	202	166	0.05	0.05	NUM
ajfa-4025	202	167	3.9	3.9	NUM
ajfa-4025	202	168	%	%	NOUN
ajfa-4025	202	169	-0.16	-0.16	NUM
ajfa-4025	202	170	0.08	0.08	NUM
ajfa-4025	202	171	0.03	0.03	NUM
ajfa-4025	202	172	-0.12	-0.12	NUM
ajfa-4025	202	173	-0.17	-0.17	NUM
ajfa-4025	202	174	0.283	0.283	NUM
ajfa-4025	202	175	2.0	2.0	NUM
ajfa-4025	202	176	%	%	NOUN
ajfa-4025	202	177	mem	mem	X
ajfa-4025	202	178	-0.01	-0.01	NUM
ajfa-4025	202	179	-0.10	-0.10	NUM
ajfa-4025	202	180	0.24	0.24	NUM
ajfa-4025	202	181	0.11	0.11	NUM
ajfa-4025	202	182	-0.164	-0.164	NOUN
ajfa-4025	202	183	0.00	0.00	NUM
ajfa-4025	202	184	3.1	3.1	NUM
ajfa-4025	202	185	%	%	NOUN
ajfa-4025	202	186	-0.17	-0.17	NOUN
ajfa-4025	202	187	0.11	0.11	NUM
ajfa-4025	202	188	-0.02	-0.02	NUM
ajfa-4025	202	189	-0.22	-0.22	NOUN
ajfa-4025	202	190	-0.16	-0.16	NUM
ajfa-4025	202	191	0.33	0.33	NUM
ajfa-4025	202	192	*	*	SYM
ajfa-4025	202	193	8.2	8.2	NUM
ajfa-4025	202	194	%	%	NOUN
ajfa-4025	202	195	notes	note	NOUN
ajfa-4025	202	196	:	:	PUNCT
ajfa-4025	202	197	*	*	PUNCT
ajfa-4025	202	198	*	*	PUNCT
ajfa-4025	202	199	and	and	CCONJ
ajfa-4025	202	200	*	*	PUNCT
ajfa-4025	202	201	denote	denote	NOUN
ajfa-4025	202	202	significance	significance	NOUN
ajfa-4025	202	203	at	at	ADP
ajfa-4025	202	204	the	the	DET
ajfa-4025	202	205	5	5	NUM
ajfa-4025	202	206	%	%	NOUN
ajfa-4025	202	207	and	and	CCONJ
ajfa-4025	202	208	10	10	NUM
ajfa-4025	202	209	%	%	NOUN
ajfa-4025	202	210	,	,	PUNCT
ajfa-4025	202	211	level	level	NOUN
ajfa-4025	202	212	respectively	respectively	ADV
ajfa-4025	202	213	.	.	PUNCT
ajfa-4025	203	1	asian	asian	ADJ
ajfa-4025	203	2	journal	journal	PROPN
ajfa-4025	203	3	of	of	ADP
ajfa-4025	203	4	finance	finance	PROPN
ajfa-4025	203	5	&	&	CCONJ
ajfa-4025	203	6	accounting	accounting	PROPN
ajfa-4025	203	7	issn	issn	PROPN
ajfa-4025	203	8	1946	1946	NUM
ajfa-4025	203	9	-	-	PUNCT
ajfa-4025	203	10	052x	052x	NOUN
ajfa-4025	203	11	2013	2013	NUM
ajfa-4025	203	12	,	,	PUNCT
ajfa-4025	203	13	vol	vol	NOUN
ajfa-4025	203	14	.	.	PROPN
ajfa-4025	203	15	5	5	NUM
ajfa-4025	203	16	,	,	PUNCT
ajfa-4025	203	17	no	no	INTJ
ajfa-4025	203	18	.	.	NOUN
ajfa-4025	203	19	2	2	NUM
ajfa-4025	203	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	203	21	174	174	NUM
ajfa-4025	203	22	in	in	ADP
ajfa-4025	203	23	the	the	DET
ajfa-4025	203	24	case	case	NOUN
ajfa-4025	203	25	of	of	ADP
ajfa-4025	203	26	sub	sub	NOUN
ajfa-4025	203	27	-	-	NOUN
ajfa-4025	203	28	period	period	NOUN
ajfa-4025	203	29	b	b	NOUN
ajfa-4025	203	30	,	,	PUNCT
ajfa-4025	203	31	change	change	NOUN
ajfa-4025	203	32	in	in	ADP
ajfa-4025	203	33	oil	oil	NOUN
ajfa-4025	203	34	price	price	NOUN
ajfa-4025	203	35	,	,	PUNCT
ajfa-4025	203	36	has	have	VERB
ajfa-4025	203	37	significant	significant	ADJ
ajfa-4025	203	38	effect	effect	NOUN
ajfa-4025	203	39	on	on	ADP
ajfa-4025	203	40	most	most	ADJ
ajfa-4025	203	41	of	of	ADP
ajfa-4025	203	42	the	the	DET
ajfa-4025	203	43	portfolios	portfolio	NOUN
ajfa-4025	203	44	in	in	ADP
ajfa-4025	203	45	singapore	singapore	PROPN
ajfa-4025	203	46	.	.	PUNCT
ajfa-4025	204	1	portfolios	portfolio	NOUN
ajfa-4025	204	2	peh	peh	PROPN
ajfa-4025	204	3	,	,	PUNCT
ajfa-4025	204	4	pem	pem	NOUN
ajfa-4025	204	5	,	,	PUNCT
ajfa-4025	204	6	bmh	bmh	NOUN
ajfa-4025	204	7	,	,	PUNCT
ajfa-4025	204	8	bml	bml	NOUN
ajfa-4025	204	9	,	,	PUNCT
ajfa-4025	204	10	mem	mem	ADJ
ajfa-4025	204	11	and	and	CCONJ
ajfa-4025	204	12	mel	mel	PROPN
ajfa-4025	204	13	are	be	AUX
ajfa-4025	204	14	positively	positively	ADV
ajfa-4025	204	15	correlated	correlate	VERB
ajfa-4025	204	16	with	with	ADP
ajfa-4025	204	17	which	which	PRON
ajfa-4025	204	18	further	far	ADV
ajfa-4025	204	19	substantiate	substantiate	VERB
ajfa-4025	204	20	that	that	SCONJ
ajfa-4025	204	21	the	the	DET
ajfa-4025	204	22	overall	overall	ADJ
ajfa-4025	204	23	singapore	singapore	PROPN
ajfa-4025	204	24	market	market	NOUN
ajfa-4025	204	25	is	be	AUX
ajfa-4025	204	26	more	more	ADV
ajfa-4025	204	27	responsive	responsive	ADJ
ajfa-4025	204	28	to	to	ADP
ajfa-4025	204	29	the	the	DET
ajfa-4025	204	30	effect	effect	NOUN
ajfa-4025	204	31	of	of	ADP
ajfa-4025	204	32	than	than	ADP
ajfa-4025	204	33	malaysia	malaysia	PROPN
ajfa-4025	204	34	.	.	PUNCT
ajfa-4025	205	1	singapore	singapore	PROPN
ajfa-4025	205	2	is	be	AUX
ajfa-4025	205	3	not	not	PART
ajfa-4025	205	4	an	an	DET
ajfa-4025	205	5	oil	oil	NOUN
ajfa-4025	205	6	-	-	PUNCT
ajfa-4025	205	7	exporting	export	VERB
ajfa-4025	205	8	country	country	NOUN
ajfa-4025	205	9	so	so	SCONJ
ajfa-4025	205	10	the	the	DET
ajfa-4025	205	11	reasons	reason	NOUN
ajfa-4025	205	12	for	for	ADP
ajfa-4025	205	13	our	our	PRON
ajfa-4025	205	14	findings	finding	NOUN
ajfa-4025	205	15	can	can	AUX
ajfa-4025	205	16	not	not	PART
ajfa-4025	205	17	be	be	AUX
ajfa-4025	205	18	explained	explain	VERB
ajfa-4025	205	19	in	in	ADP
ajfa-4025	205	20	the	the	DET
ajfa-4025	205	21	same	same	ADJ
ajfa-4025	205	22	way	way	NOUN
ajfa-4025	205	23	as	as	ADP
ajfa-4025	205	24	for	for	ADP
ajfa-4025	205	25	malaysia	malaysia	PROPN
ajfa-4025	205	26	.	.	PUNCT
ajfa-4025	206	1	from	from	ADP
ajfa-4025	206	2	the	the	DET
ajfa-4025	206	3	analysis	analysis	NOUN
ajfa-4025	206	4	,	,	PUNCT
ajfa-4025	206	5	it	it	PRON
ajfa-4025	206	6	is	be	AUX
ajfa-4025	206	7	observed	observe	VERB
ajfa-4025	206	8	that	that	PRON
ajfa-4025	206	9	became	become	VERB
ajfa-4025	206	10	significant	significant	ADJ
ajfa-4025	206	11	during	during	ADP
ajfa-4025	206	12	the	the	DET
ajfa-4025	206	13	crisis	crisis	NOUN
ajfa-4025	206	14	and	and	CCONJ
ajfa-4025	206	15	post	post	ADJ
ajfa-4025	206	16	-	-	ADJ
ajfa-4025	206	17	crisis	crisis	ADJ
ajfa-4025	206	18	period	period	NOUN
ajfa-4025	206	19	.	.	PUNCT
ajfa-4025	207	1	le	le	PROPN
ajfa-4025	207	2	and	and	CCONJ
ajfa-4025	207	3	chang	chang	PROPN
ajfa-4025	207	4	(	(	PUNCT
ajfa-4025	207	5	2011	2011	NUM
ajfa-4025	207	6	)	)	PUNCT
ajfa-4025	207	7	explain	explain	VERB
ajfa-4025	207	8	that	that	SCONJ
ajfa-4025	207	9	the	the	DET
ajfa-4025	207	10	rising	rise	VERB
ajfa-4025	207	11	crude	crude	ADJ
ajfa-4025	207	12	oil	oil	NOUN
ajfa-4025	207	13	price	price	NOUN
ajfa-4025	207	14	is	be	AUX
ajfa-4025	207	15	reflected	reflect	VERB
ajfa-4025	207	16	in	in	ADP
ajfa-4025	207	17	the	the	DET
ajfa-4025	207	18	stronger	strong	ADJ
ajfa-4025	207	19	business	business	NOUN
ajfa-4025	207	20	performance	performance	NOUN
ajfa-4025	207	21	which	which	PRON
ajfa-4025	207	22	results	result	VERB
ajfa-4025	207	23	in	in	ADP
ajfa-4025	207	24	increasing	increase	VERB
ajfa-4025	207	25	oil	oil	NOUN
ajfa-4025	207	26	demand	demand	NOUN
ajfa-4025	207	27	,	,	PUNCT
ajfa-4025	207	28	and	and	CCONJ
ajfa-4025	207	29	that	that	SCONJ
ajfa-4025	207	30	this	this	PRON
ajfa-4025	207	31	normally	normally	ADV
ajfa-4025	207	32	happens	happen	VERB
ajfa-4025	207	33	when	when	SCONJ
ajfa-4025	207	34	the	the	DET
ajfa-4025	207	35	economy	economy	NOUN
ajfa-4025	207	36	is	be	AUX
ajfa-4025	207	37	recovering	recover	VERB
ajfa-4025	207	38	from	from	ADP
ajfa-4025	207	39	recession	recession	NOUN
ajfa-4025	207	40	–	–	PUNCT
ajfa-4025	207	41	when	when	SCONJ
ajfa-4025	207	42	there	there	PRON
ajfa-4025	207	43	is	be	VERB
ajfa-4025	207	44	high	high	ADJ
ajfa-4025	207	45	demand	demand	NOUN
ajfa-4025	207	46	for	for	ADP
ajfa-4025	207	47	oil	oil	NOUN
ajfa-4025	207	48	for	for	ADP
ajfa-4025	207	49	economic	economic	ADJ
ajfa-4025	207	50	expansion	expansion	NOUN
ajfa-4025	207	51	.	.	PUNCT
ajfa-4025	208	1	in	in	ADP
ajfa-4025	208	2	their	their	PRON
ajfa-4025	208	3	study	study	NOUN
ajfa-4025	208	4	of	of	ADP
ajfa-4025	208	5	the	the	DET
ajfa-4025	208	6	situation	situation	NOUN
ajfa-4025	208	7	in	in	ADP
ajfa-4025	208	8	japan	japan	PROPN
ajfa-4025	208	9	,	,	PUNCT
ajfa-4025	208	10	based	base	VERB
ajfa-4025	208	11	on	on	ADP
ajfa-4025	208	12	monthly	monthly	ADJ
ajfa-4025	208	13	data	datum	NOUN
ajfa-4025	208	14	from	from	ADP
ajfa-4025	208	15	1986	1986	NUM
ajfa-4025	208	16	to	to	ADP
ajfa-4025	208	17	2011	2011	NUM
ajfa-4025	208	18	,	,	PUNCT
ajfa-4025	208	19	they	they	PRON
ajfa-4025	208	20	found	find	VERB
ajfa-4025	208	21	that	that	SCONJ
ajfa-4025	208	22	the	the	DET
ajfa-4025	208	23	japanese	japanese	ADJ
ajfa-4025	208	24	stock	stock	NOUN
ajfa-4025	208	25	market	market	NOUN
ajfa-4025	208	26	responds	respond	VERB
ajfa-4025	208	27	positively	positively	ADV
ajfa-4025	208	28	in	in	ADP
ajfa-4025	208	29	these	these	DET
ajfa-4025	208	30	circumstances	circumstance	NOUN
ajfa-4025	208	31	.	.	PUNCT
ajfa-4025	209	1	furthermore	furthermore	ADV
ajfa-4025	209	2	,	,	PUNCT
ajfa-4025	209	3	mohan	mohan	PROPN
ajfa-4025	209	4	and	and	CCONJ
ajfa-4025	209	5	harminder	harminder	PROPN
ajfa-4025	209	6	(	(	PUNCT
ajfa-4025	209	7	2011	2011	NUM
ajfa-4025	209	8	)	)	PUNCT
ajfa-4025	209	9	show	show	VERB
ajfa-4025	209	10	the	the	DET
ajfa-4025	209	11	same	same	ADJ
ajfa-4025	209	12	correlation	correlation	NOUN
ajfa-4025	209	13	for	for	ADP
ajfa-4025	209	14	china	china	PROPN
ajfa-4025	209	15	which	which	PRON
ajfa-4025	209	16	they	they	PRON
ajfa-4025	209	17	state	state	VERB
ajfa-4025	209	18	is	be	AUX
ajfa-4025	209	19	due	due	ADJ
ajfa-4025	209	20	to	to	ADP
ajfa-4025	209	21	the	the	DET
ajfa-4025	209	22	aggregate	aggregate	ADJ
ajfa-4025	209	23	demand	demand	NOUN
ajfa-4025	209	24	side	side	NOUN
ajfa-4025	209	25	for	for	ADP
ajfa-4025	209	26	oil	oil	NOUN
ajfa-4025	209	27	,	,	PUNCT
ajfa-4025	209	28	which	which	PRON
ajfa-4025	209	29	increased	increase	VERB
ajfa-4025	209	30	the	the	DET
ajfa-4025	209	31	oil	oil	NOUN
ajfa-4025	209	32	price	price	NOUN
ajfa-4025	209	33	,	,	PUNCT
ajfa-4025	209	34	during	during	ADP
ajfa-4025	209	35	economic	economic	ADJ
ajfa-4025	209	36	expansion	expansion	NOUN
ajfa-4025	209	37	.	.	PUNCT
ajfa-4025	210	1	the	the	DET
ajfa-4025	210	2	aggregate	aggregate	ADJ
ajfa-4025	210	3	demand	demand	NOUN
ajfa-4025	210	4	for	for	ADP
ajfa-4025	210	5	oil	oil	NOUN
ajfa-4025	210	6	could	could	AUX
ajfa-4025	210	7	be	be	AUX
ajfa-4025	210	8	due	due	ADJ
ajfa-4025	210	9	to	to	ADP
ajfa-4025	210	10	a	a	DET
ajfa-4025	210	11	combination	combination	NOUN
ajfa-4025	210	12	of	of	ADP
ajfa-4025	210	13	economic	economic	ADJ
ajfa-4025	210	14	stimulus	stimulus	ADJ
ajfa-4025	210	15	events	event	NOUN
ajfa-4025	210	16	in	in	ADP
ajfa-4025	210	17	most	most	ADJ
ajfa-4025	210	18	countries	country	NOUN
ajfa-4025	210	19	,	,	PUNCT
ajfa-4025	210	20	as	as	ADV
ajfa-4025	210	21	well	well	ADV
ajfa-4025	210	22	as	as	ADP
ajfa-4025	210	23	in	in	ADP
ajfa-4025	210	24	singapore	singapore	PROPN
ajfa-4025	210	25	,	,	PUNCT
ajfa-4025	210	26	during	during	ADP
ajfa-4025	210	27	and	and	CCONJ
ajfa-4025	210	28	post	post	VERB
ajfa-4025	210	29	crisis	crisis	NOUN
ajfa-4025	210	30	.	.	PUNCT
ajfa-4025	211	1	a	a	DET
ajfa-4025	211	2	stimulus	stimulus	ADJ
ajfa-4025	211	3	event	event	NOUN
ajfa-4025	211	4	is	be	AUX
ajfa-4025	211	5	denoted	denote	VERB
ajfa-4025	211	6	as	as	ADP
ajfa-4025	211	7	favourable	favourable	ADJ
ajfa-4025	211	8	news	news	NOUN
ajfa-4025	211	9	because	because	SCONJ
ajfa-4025	211	10	it	it	PRON
ajfa-4025	211	11	is	be	AUX
ajfa-4025	211	12	perceived	perceive	VERB
ajfa-4025	211	13	as	as	ADP
ajfa-4025	211	14	being	be	AUX
ajfa-4025	211	15	a	a	DET
ajfa-4025	211	16	positive	positive	ADJ
ajfa-4025	211	17	move	move	NOUN
ajfa-4025	211	18	to	to	PART
ajfa-4025	211	19	encourage	encourage	VERB
ajfa-4025	211	20	real	real	ADJ
ajfa-4025	211	21	economic	economic	ADJ
ajfa-4025	211	22	activities	activity	NOUN
ajfa-4025	211	23	.	.	PUNCT
ajfa-4025	212	1	hence	hence	ADV
ajfa-4025	212	2	,	,	PUNCT
ajfa-4025	212	3	there	there	PRON
ajfa-4025	212	4	is	be	VERB
ajfa-4025	212	5	a	a	DET
ajfa-4025	212	6	consequent	consequent	ADJ
ajfa-4025	212	7	increase	increase	NOUN
ajfa-4025	212	8	in	in	ADP
ajfa-4025	212	9	stock	stock	NOUN
ajfa-4025	212	10	return	return	NOUN
ajfa-4025	212	11	.	.	PUNCT
ajfa-4025	213	1	assuming	assume	VERB
ajfa-4025	213	2	that	that	SCONJ
ajfa-4025	213	3	past	past	ADJ
ajfa-4025	213	4	trend	trend	NOUN
ajfa-4025	213	5	continues	continue	VERB
ajfa-4025	213	6	,	,	PUNCT
ajfa-4025	213	7	the	the	DET
ajfa-4025	213	8	positive	positive	ADJ
ajfa-4025	213	9	correlation	correlation	NOUN
ajfa-4025	213	10	between	between	ADP
ajfa-4025	213	11	oil	oil	NOUN
ajfa-4025	213	12	price	price	NOUN
ajfa-4025	213	13	and	and	CCONJ
ajfa-4025	213	14	stock	stock	NOUN
ajfa-4025	213	15	return	return	NOUN
ajfa-4025	213	16	may	may	AUX
ajfa-4025	213	17	provide	provide	VERB
ajfa-4025	213	18	an	an	DET
ajfa-4025	213	19	effective	effective	ADJ
ajfa-4025	213	20	hedge	hedge	NOUN
ajfa-4025	213	21	during	during	ADP
ajfa-4025	213	22	oil	oil	NOUN
ajfa-4025	213	23	price	price	NOUN
ajfa-4025	213	24	hikes	hike	NOUN
ajfa-4025	213	25	.	.	PUNCT
ajfa-4025	214	1	table	table	NOUN
ajfa-4025	214	2	8	8	NUM
ajfa-4025	214	3	summarizes	summarize	NOUN
ajfa-4025	214	4	the	the	DET
ajfa-4025	214	5	relationship	relationship	NOUN
ajfa-4025	214	6	between	between	ADP
ajfa-4025	214	7	different	different	ADJ
ajfa-4025	214	8	pe	pe	NOUN
ajfa-4025	214	9	,	,	PUNCT
ajfa-4025	214	10	mb	mb	ADP
ajfa-4025	214	11	and	and	CCONJ
ajfa-4025	214	12	me	i	PRON
ajfa-4025	214	13	and	and	CCONJ
ajfa-4025	214	14	the	the	DET
ajfa-4025	214	15	hypothesized	hypothesized	ADJ
ajfa-4025	214	16	macroeconomic	macroeconomic	ADJ
ajfa-4025	214	17	variables	variable	NOUN
ajfa-4025	214	18	for	for	ADP
ajfa-4025	214	19	thailand	thailand	PROPN
ajfa-4025	214	20	in	in	ADP
ajfa-4025	214	21	both	both	DET
ajfa-4025	214	22	sub	sub	NOUN
ajfa-4025	214	23	-	-	NOUN
ajfa-4025	214	24	periods	period	NOUN
ajfa-4025	214	25	.	.	PUNCT
ajfa-4025	215	1	in	in	ADP
ajfa-4025	215	2	sub	sub	NOUN
ajfa-4025	215	3	-	-	NOUN
ajfa-4025	215	4	period	period	NOUN
ajfa-4025	215	5	a	a	PRON
ajfa-4025	215	6	,	,	PUNCT
ajfa-4025	215	7	change	change	NOUN
ajfa-4025	215	8	in	in	ADP
ajfa-4025	215	9	exchange	exchange	NOUN
ajfa-4025	215	10	rate	rate	NOUN
ajfa-4025	215	11	,	,	PUNCT
ajfa-4025	215	12	and	and	CCONJ
ajfa-4025	215	13	change	change	NOUN
ajfa-4025	215	14	in	in	ADP
ajfa-4025	215	15	term	term	NOUN
ajfa-4025	215	16	structure	structure	NOUN
ajfa-4025	215	17	,	,	PUNCT
ajfa-4025	215	18	have	have	VERB
ajfa-4025	215	19	significant	significant	ADJ
ajfa-4025	215	20	effects	effect	NOUN
ajfa-4025	215	21	on	on	ADP
ajfa-4025	215	22	the	the	DET
ajfa-4025	215	23	portfolios	portfolio	NOUN
ajfa-4025	215	24	in	in	ADP
ajfa-4025	215	25	thailand	thailand	PROPN
ajfa-4025	215	26	.	.	PUNCT
ajfa-4025	216	1	in	in	ADP
ajfa-4025	216	2	this	this	DET
ajfa-4025	216	3	analysis	analysis	NOUN
ajfa-4025	216	4	,	,	PUNCT
ajfa-4025	216	5	has	have	VERB
ajfa-4025	216	6	a	a	DET
ajfa-4025	216	7	negative	negative	ADJ
ajfa-4025	216	8	correlation	correlation	NOUN
ajfa-4025	216	9	with	with	ADP
ajfa-4025	216	10	peh	peh	PROPN
ajfa-4025	216	11	,	,	PUNCT
ajfa-4025	216	12	bmh	bmh	PROPN
ajfa-4025	216	13	,	,	PUNCT
ajfa-4025	216	14	mem	mem	ADJ
ajfa-4025	216	15	and	and	CCONJ
ajfa-4025	216	16	mel	mel	NOUN
ajfa-4025	216	17	portfolios	portfolio	NOUN
ajfa-4025	216	18	.	.	PUNCT
ajfa-4025	217	1	the	the	DET
ajfa-4025	217	2	currency	currency	NOUN
ajfa-4025	217	3	is	be	AUX
ajfa-4025	217	4	stronger	strong	ADJ
ajfa-4025	217	5	compared	compare	VERB
ajfa-4025	217	6	to	to	ADP
ajfa-4025	217	7	other	other	ADJ
ajfa-4025	217	8	currencies	currency	NOUN
ajfa-4025	217	9	when	when	SCONJ
ajfa-4025	217	10	the	the	DET
ajfa-4025	217	11	required	require	VERB
ajfa-4025	217	12	face	face	NOUN
ajfa-4025	217	13	value	value	NOUN
ajfa-4025	217	14	to	to	PART
ajfa-4025	217	15	exchange	exchange	VERB
ajfa-4025	217	16	for	for	ADP
ajfa-4025	217	17	other	other	ADJ
ajfa-4025	217	18	currencies	currency	NOUN
ajfa-4025	217	19	is	be	AUX
ajfa-4025	217	20	lower	low	ADJ
ajfa-4025	217	21	or	or	CCONJ
ajfa-4025	217	22	vice	vice	ADV
ajfa-4025	217	23	versa	versa	ADV
ajfa-4025	217	24	.	.	PUNCT
ajfa-4025	218	1	in	in	ADP
ajfa-4025	218	2	this	this	DET
ajfa-4025	218	3	case	case	NOUN
ajfa-4025	218	4	,	,	PUNCT
ajfa-4025	218	5	the	the	DET
ajfa-4025	218	6	negative	negative	ADJ
ajfa-4025	218	7	relationship	relationship	NOUN
ajfa-4025	218	8	suggests	suggest	VERB
ajfa-4025	218	9	that	that	SCONJ
ajfa-4025	218	10	depreciation	depreciation	NOUN
ajfa-4025	218	11	of	of	ADP
ajfa-4025	218	12	currency	currency	NOUN
ajfa-4025	218	13	may	may	AUX
ajfa-4025	218	14	depress	depress	VERB
ajfa-4025	218	15	the	the	DET
ajfa-4025	218	16	stock	stock	NOUN
ajfa-4025	218	17	market	market	NOUN
ajfa-4025	218	18	.	.	PUNCT
ajfa-4025	219	1	this	this	DET
ajfa-4025	219	2	phenomenon	phenomenon	NOUN
ajfa-4025	219	3	is	be	AUX
ajfa-4025	219	4	in	in	ADP
ajfa-4025	219	5	line	line	NOUN
ajfa-4025	219	6	with	with	ADP
ajfa-4025	219	7	a	a	DET
ajfa-4025	219	8	number	number	NOUN
ajfa-4025	219	9	of	of	ADP
ajfa-4025	219	10	previous	previous	ADJ
ajfa-4025	219	11	empirical	empirical	ADJ
ajfa-4025	219	12	studies	study	NOUN
ajfa-4025	219	13	.	.	PUNCT
ajfa-4025	220	1	for	for	ADP
ajfa-4025	220	2	instance	instance	NOUN
ajfa-4025	220	3	,	,	PUNCT
ajfa-4025	220	4	dimitrova	dimitrova	X
ajfa-4025	220	5	(	(	PUNCT
ajfa-4025	220	6	2005	2005	NUM
ajfa-4025	220	7	)	)	PUNCT
ajfa-4025	220	8	finds	find	VERB
ajfa-4025	220	9	that	that	PRON
ajfa-4025	220	10	depreciation	depreciation	NOUN
ajfa-4025	220	11	of	of	ADP
ajfa-4025	220	12	currency	currency	NOUN
ajfa-4025	220	13	can	can	AUX
ajfa-4025	220	14	depress	depress	VERB
ajfa-4025	220	15	the	the	DET
ajfa-4025	220	16	stock	stock	NOUN
ajfa-4025	220	17	market	market	NOUN
ajfa-4025	220	18	or	or	CCONJ
ajfa-4025	220	19	vice	vice	NOUN
ajfa-4025	220	20	versa	versa	ADV
ajfa-4025	220	21	.	.	PUNCT
ajfa-4025	221	1	asian	asian	ADJ
ajfa-4025	221	2	journal	journal	PROPN
ajfa-4025	221	3	of	of	ADP
ajfa-4025	221	4	finance	finance	PROPN
ajfa-4025	221	5	&	&	CCONJ
ajfa-4025	221	6	accounting	accounting	PROPN
ajfa-4025	221	7	issn	issn	PROPN
ajfa-4025	221	8	1946	1946	NUM
ajfa-4025	221	9	-	-	PUNCT
ajfa-4025	221	10	052x	052x	NOUN
ajfa-4025	221	11	2013	2013	NUM
ajfa-4025	221	12	,	,	PUNCT
ajfa-4025	221	13	vol	vol	NOUN
ajfa-4025	221	14	.	.	PROPN
ajfa-4025	221	15	5	5	NUM
ajfa-4025	221	16	,	,	PUNCT
ajfa-4025	221	17	no	no	INTJ
ajfa-4025	221	18	.	.	NOUN
ajfa-4025	221	19	2	2	NUM
ajfa-4025	221	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	221	21	175	175	NUM
ajfa-4025	221	22	table	table	NOUN
ajfa-4025	221	23	8	8	NUM
ajfa-4025	221	24	.	.	PUNCT
ajfa-4025	221	25	relationship	relationship	NOUN
ajfa-4025	221	26	between	between	ADP
ajfa-4025	221	27	stock	stock	NOUN
ajfa-4025	221	28	portfolio	portfolio	NOUN
ajfa-4025	221	29	and	and	CCONJ
ajfa-4025	221	30	macroeconomic	macroeconomic	ADJ
ajfa-4025	221	31	variables	variable	NOUN
ajfa-4025	221	32	for	for	ADP
ajfa-4025	221	33	thailand	thailand	PROPN
ajfa-4025	221	34	sub	sub	NOUN
ajfa-4025	221	35	-	-	NOUN
ajfa-4025	221	36	period	period	NOUN
ajfa-4025	221	37	a	a	DET
ajfa-4025	221	38	july	july	NOUN
ajfa-4025	221	39	2003	2003	NUM
ajfa-4025	221	40	to	to	ADP
ajfa-4025	221	41	june	june	PROPN
ajfa-4025	221	42	2008	2008	NUM
ajfa-4025	221	43	adj	adj	PROPN
ajfa-4025	221	44	r2	r2	PROPN
ajfa-4025	221	45	sub	sub	NOUN
ajfa-4025	221	46	-	-	NOUN
ajfa-4025	221	47	period	period	NOUN
ajfa-4025	221	48	bjuly	bjuly	NOUN
ajfa-4025	221	49	2007	2007	NUM
ajfa-4025	221	50	to	to	ADP
ajfa-4025	221	51	june	june	PROPN
ajfa-4025	221	52	2011	2011	NUM
ajfa-4025	221	53	adj	adj	PROPN
ajfa-4025	221	54	r2	r2	PROPN
ajfa-4025	221	55	∆inf	∆inf	PROPN
ajfa-4025	222	1	∆ipi	∆ipi	PROPN
ajfa-4025	222	2	∆ts	∆ts	NOUN
ajfa-4025	222	3	∆ms	∆ms	X
ajfa-4025	222	4	∆er	∆er	NOUN
ajfa-4025	222	5	∆op	∆op	X
ajfa-4025	222	6	adj	adj	PROPN
ajfa-4025	222	7	r2	r2	PROPN
ajfa-4025	222	8	∆inf	∆inf	PROPN
ajfa-4025	222	9	∆ipi	∆ipi	PROPN
ajfa-4025	222	10	∆ts	∆ts	NOUN
ajfa-4025	222	11	∆ms	∆ms	X
ajfa-4025	222	12	∆er	∆er	NOUN
ajfa-4025	222	13	∆op	∆op	ADP
ajfa-4025	222	14	adj	adj	PROPN
ajfa-4025	222	15	r2	r2	PROPN
ajfa-4025	222	16	peh	peh	PROPN
ajfa-4025	223	1	-0.01	-0.01	NUM
ajfa-4025	223	2	-0.04	-0.04	NUM
ajfa-4025	223	3	0.19	0.19	NUM
ajfa-4025	223	4	0.21	0.21	NUM
ajfa-4025	223	5	-0.35	-0.35	NOUN
ajfa-4025	223	6	*	*	PROPN
ajfa-4025	223	7	0.10	0.10	NUM
ajfa-4025	223	8	1.2	1.2	NUM
ajfa-4025	223	9	%	%	NOUN
ajfa-4025	223	10	0.36	0.36	NUM
ajfa-4025	223	11	*	*	SYM
ajfa-4025	223	12	*	*	NOUN
ajfa-4025	223	13	0.14	0.14	NUM
ajfa-4025	223	14	-0.29	-0.29	NOUN
ajfa-4025	223	15	*	*	PUNCT
ajfa-4025	223	16	0.31	0.31	NUM
ajfa-4025	223	17	*	*	NOUN
ajfa-4025	223	18	0.07	0.07	NUM
ajfa-4025	223	19	0.51	0.51	NUM
ajfa-4025	223	20	*	*	PUNCT
ajfa-4025	223	21	*	*	PUNCT
ajfa-4025	223	22	14.6	14.6	NUM
ajfa-4025	223	23	%	%	NOUN
ajfa-4025	223	24	pem	pem	NOUN
ajfa-4025	223	25	-0.15	-0.15	NUM
ajfa-4025	223	26	0.09	0.09	NUM
ajfa-4025	223	27	0.25	0.25	NUM
ajfa-4025	223	28	0.11	0.11	NUM
ajfa-4025	223	29	-0.16	-0.16	NUM
ajfa-4025	223	30	-0.01	-0.01	NUM
ajfa-4025	223	31	0.6	0.6	NUM
ajfa-4025	223	32	%	%	NOUN
ajfa-4025	223	33	0.36	0.36	NUM
ajfa-4025	223	34	*	*	SYM
ajfa-4025	223	35	*	*	PUNCT
ajfa-4025	223	36	0.22	0.22	NUM
ajfa-4025	223	37	-0.26	-0.26	NOUN
ajfa-4025	223	38	0.41	0.41	NUM
ajfa-4025	223	39	*	*	NOUN
ajfa-4025	223	40	0.02	0.02	NUM
ajfa-4025	223	41	0.42	0.42	NUM
ajfa-4025	223	42	*	*	PUNCT
ajfa-4025	223	43	*	*	PUNCT
ajfa-4025	223	44	11.3	11.3	NUM
ajfa-4025	223	45	%	%	NOUN
ajfa-4025	223	46	pel	pel	PROPN
ajfa-4025	223	47	-0.09	-0.09	NUM
ajfa-4025	223	48	0.08	0.08	NUM
ajfa-4025	223	49	0.34	0.34	NUM
ajfa-4025	223	50	*	*	PUNCT
ajfa-4025	223	51	0.11	0.11	NUM
ajfa-4025	223	52	-0.23	-0.23	NUM
ajfa-4025	223	53	0.16	0.16	NUM
ajfa-4025	223	54	9.3	9.3	NUM
ajfa-4025	223	55	%	%	NOUN
ajfa-4025	223	56	0.37	0.37	NUM
ajfa-4025	223	57	0.15	0.15	NUM
ajfa-4025	223	58	-0.19	-0.19	NOUN
ajfa-4025	223	59	0.4	0.4	NUM
ajfa-4025	223	60	0.06	0.06	NUM
ajfa-4025	223	61	0.34	0.34	NUM
ajfa-4025	223	62	6.0	6.0	NUM
ajfa-4025	223	63	%	%	NOUN
ajfa-4025	223	64	bmh	bmh	NOUN
ajfa-4025	223	65	-0.05	-0.05	X
ajfa-4025	223	66	0.18	0.18	NUM
ajfa-4025	223	67	0.14	0.14	NUM
ajfa-4025	223	68	0.10	0.10	NUM
ajfa-4025	223	69	-0.38	-0.38	PROPN
ajfa-4025	223	70	*	*	NUM
ajfa-4025	223	71	0.12	0.12	NUM
ajfa-4025	223	72	7.3	7.3	NUM
ajfa-4025	223	73	%	%	NOUN
ajfa-4025	223	74	0.11	0.11	NUM
ajfa-4025	223	75	0.13	0.13	NUM
ajfa-4025	223	76	-0.08	-0.08	NUM
ajfa-4025	223	77	0.25	0.25	NUM
ajfa-4025	223	78	-0.03	-0.03	NUM
ajfa-4025	223	79	0.23	0.23	NUM
ajfa-4025	223	80	5.3	5.3	NUM
ajfa-4025	223	81	%	%	NOUN
ajfa-4025	223	82	bmm	bmm	PROPN
ajfa-4025	223	83	-0.18	-0.18	NOUN
ajfa-4025	223	84	0.07	0.07	NUM
ajfa-4025	223	85	0.32	0.32	NUM
ajfa-4025	223	86	*	*	PUNCT
ajfa-4025	223	87	0.16	0.16	NUM
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ajfa-4025	223	89	0.07	0.07	NUM
ajfa-4025	223	90	10.7	10.7	NUM
ajfa-4025	223	91	%	%	NOUN
ajfa-4025	223	92	0.33	0.33	NUM
ajfa-4025	223	93	*	*	NOUN
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ajfa-4025	223	95	*	*	NOUN
ajfa-4025	223	96	*	*	PUNCT
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ajfa-4025	223	98	*	*	PUNCT
ajfa-4025	223	99	0.38	0.38	NUM
ajfa-4025	223	100	*	*	PUNCT
ajfa-4025	223	101	*	*	PUNCT
ajfa-4025	223	102	-0.07	-0.07	NUM
ajfa-4025	223	103	0.53	0.53	NUM
ajfa-4025	223	104	*	*	PUNCT
ajfa-4025	223	105	*	*	PUNCT
ajfa-4025	223	106	21.8	21.8	NUM
ajfa-4025	223	107	%	%	NOUN
ajfa-4025	223	108	bml	bml	X
ajfa-4025	223	109	-0.05	-0.05	X
ajfa-4025	223	110	-0.03	-0.03	NUM
ajfa-4025	223	111	0.24	0.24	NUM
ajfa-4025	223	112	0.16	0.16	NUM
ajfa-4025	223	113	-0.21	-0.21	NUM
ajfa-4025	223	114	0.08	0.08	NUM
ajfa-4025	223	115	2.1	2.1	NUM
ajfa-4025	223	116	%	%	NOUN
ajfa-4025	223	117	0.40	0.40	NUM
ajfa-4025	223	118	*	*	NOUN
ajfa-4025	223	119	*	*	PUNCT
ajfa-4025	223	120	0.15	0.15	NUM
ajfa-4025	223	121	-0.30	-0.30	PROPN
ajfa-4025	223	122	*	*	NOUN
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ajfa-4025	223	124	*	*	PUNCT
ajfa-4025	223	125	*	*	PUNCT
ajfa-4025	223	126	0.1	0.1	NUM
ajfa-4025	223	127	0.46	0.46	NUM
ajfa-4025	223	128	*	*	PUNCT
ajfa-4025	223	129	*	*	PUNCT
ajfa-4025	223	130	14.1	14.1	NUM
ajfa-4025	223	131	%	%	NOUN
ajfa-4025	223	132	meh	meh	NOUN
ajfa-4025	223	133	-0.10	-0.10	NUM
ajfa-4025	223	134	0.00	0.00	NUM
ajfa-4025	223	135	0.27	0.27	NUM
ajfa-4025	223	136	*	*	PUNCT
ajfa-4025	223	137	*	*	PUNCT
ajfa-4025	223	138	0.16	0.16	NUM
ajfa-4025	223	139	-0.20	-0.20	NUM
ajfa-4025	223	140	0.02	0.02	NUM
ajfa-4025	223	141	3.0	3.0	NUM
ajfa-4025	223	142	%	%	NOUN
ajfa-4025	223	143	0.38	0.38	NOUN
ajfa-4025	223	144	*	*	PUNCT
ajfa-4025	223	145	*	*	PUNCT
ajfa-4025	223	146	0.14	0.14	NUM
ajfa-4025	223	147	-0.29	-0.29	NOUN
ajfa-4025	223	148	*	*	NOUN
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ajfa-4025	223	150	*	*	PUNCT
ajfa-4025	223	151	*	*	PUNCT
ajfa-4025	223	152	0.07	0.07	NUM
ajfa-4025	223	153	0.49	0.49	NUM
ajfa-4025	223	154	*	*	PUNCT
ajfa-4025	223	155	*	*	PUNCT
ajfa-4025	223	156	14.1	14.1	NUM
ajfa-4025	223	157	%	%	NOUN
ajfa-4025	223	158	mem	mem	NOUN
ajfa-4025	223	159	0.05	0.05	NUM
ajfa-4025	223	160	0.05	0.05	NUM
ajfa-4025	223	161	0.33	0.33	NUM
ajfa-4025	223	162	*	*	PUNCT
ajfa-4025	223	163	0.10	0.10	NUM
ajfa-4025	223	164	-0.25	-0.25	NUM
ajfa-4025	223	165	*	*	NOUN
ajfa-4025	223	166	*	*	NOUN
ajfa-4025	223	167	0.22	0.22	NUM
ajfa-4025	223	168	10.5	10.5	NUM
ajfa-4025	223	169	%	%	NOUN
ajfa-4025	223	170	0.19	0.19	NUM
ajfa-4025	223	171	0.13	0.13	NUM
ajfa-4025	223	172	-0.17	-0.17	NOUN
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ajfa-4025	223	174	0.04	0.04	NUM
ajfa-4025	223	175	0.25	0.25	NUM
ajfa-4025	223	176	6.5	6.5	NUM
ajfa-4025	223	177	%	%	NOUN
ajfa-4025	223	178	notes	note	NOUN
ajfa-4025	223	179	:	:	PUNCT
ajfa-4025	223	180	*	*	PUNCT
ajfa-4025	223	181	*	*	PUNCT
ajfa-4025	223	182	and	and	CCONJ
ajfa-4025	223	183	*	*	PUNCT
ajfa-4025	223	184	denote	denote	NOUN
ajfa-4025	223	185	significance	significance	NOUN
ajfa-4025	223	186	at	at	ADP
ajfa-4025	223	187	the	the	DET
ajfa-4025	223	188	5	5	NUM
ajfa-4025	223	189	%	%	NOUN
ajfa-4025	223	190	and	and	CCONJ
ajfa-4025	223	191	10	10	NUM
ajfa-4025	223	192	%	%	NOUN
ajfa-4025	223	193	,	,	PUNCT
ajfa-4025	223	194	level	level	NOUN
ajfa-4025	223	195	respectively	respectively	ADV
ajfa-4025	223	196	.	.	PUNCT
ajfa-4025	224	1	for	for	ADP
ajfa-4025	224	2	term	term	NOUN
ajfa-4025	224	3	structure	structure	NOUN
ajfa-4025	224	4	,	,	PUNCT
ajfa-4025	224	5	shows	show	VERB
ajfa-4025	224	6	a	a	DET
ajfa-4025	224	7	positive	positive	ADJ
ajfa-4025	224	8	correlation	correlation	NOUN
ajfa-4025	224	9	with	with	ADP
ajfa-4025	224	10	pel	pel	PROPN
ajfa-4025	224	11	,	,	PUNCT
ajfa-4025	224	12	bmm	bmm	PROPN
ajfa-4025	224	13	,	,	PUNCT
ajfa-4025	224	14	meh	meh	NOUN
ajfa-4025	224	15	and	and	CCONJ
ajfa-4025	224	16	mem	mem	ADJ
ajfa-4025	224	17	portfolios	portfolio	NOUN
ajfa-4025	224	18	.	.	PUNCT
ajfa-4025	225	1	however	however	ADV
ajfa-4025	225	2	,	,	PUNCT
ajfa-4025	225	3	the	the	DET
ajfa-4025	225	4	analysis	analysis	NOUN
ajfa-4025	225	5	shows	show	NOUN
ajfa-4025	225	6	has	have	VERB
ajfa-4025	225	7	a	a	DET
ajfa-4025	225	8	bigger	big	ADJ
ajfa-4025	225	9	spread	spread	NOUN
ajfa-4025	225	10	over	over	ADP
ajfa-4025	225	11	the	the	DET
ajfa-4025	225	12	portfolios	portfolio	NOUN
ajfa-4025	225	13	than	than	SCONJ
ajfa-4025	225	14	in	in	ADP
ajfa-4025	225	15	the	the	DET
ajfa-4025	225	16	case	case	NOUN
ajfa-4025	225	17	of	of	ADP
ajfa-4025	225	18	singapore	singapore	PROPN
ajfa-4025	225	19	during	during	ADP
ajfa-4025	225	20	sub	sub	NOUN
ajfa-4025	225	21	-	-	NOUN
ajfa-4025	225	22	period	period	NOUN
ajfa-4025	225	23	a.	a.	NOUN
ajfa-4025	225	24	this	this	DET
ajfa-4025	225	25	positive	positive	ADJ
ajfa-4025	225	26	correlation	correlation	NOUN
ajfa-4025	225	27	finding	finding	NOUN
ajfa-4025	225	28	is	be	AUX
ajfa-4025	225	29	different	different	ADJ
ajfa-4025	225	30	from	from	ADP
ajfa-4025	225	31	chen	chen	PROPN
ajfa-4025	225	32	,	,	PUNCT
ajfa-4025	225	33	roll	roll	NOUN
ajfa-4025	225	34	and	and	CCONJ
ajfa-4025	225	35	ross	ross	PROPN
ajfa-4025	225	36	(	(	PUNCT
ajfa-4025	225	37	1986	1986	NUM
ajfa-4025	225	38	)	)	PUNCT
ajfa-4025	225	39	.	.	PUNCT
ajfa-4025	226	1	this	this	PRON
ajfa-4025	226	2	shows	show	VERB
ajfa-4025	226	3	that	that	SCONJ
ajfa-4025	226	4	the	the	DET
ajfa-4025	226	5	overall	overall	ADJ
ajfa-4025	226	6	thailand	thailand	PROPN
ajfa-4025	226	7	stock	stock	NOUN
ajfa-4025	226	8	market	market	NOUN
ajfa-4025	226	9	is	be	AUX
ajfa-4025	226	10	more	more	ADV
ajfa-4025	226	11	responsive	responsive	ADJ
ajfa-4025	226	12	to	to	ADP
ajfa-4025	226	13	the	the	DET
ajfa-4025	226	14	effect	effect	NOUN
ajfa-4025	226	15	of	of	ADP
ajfa-4025	226	16	with	with	ADP
ajfa-4025	226	17	the	the	DET
ajfa-4025	226	18	positive	positive	ADJ
ajfa-4025	226	19	correlation	correlation	NOUN
ajfa-4025	226	20	whereby	whereby	SCONJ
ajfa-4025	226	21	the	the	DET
ajfa-4025	226	22	narrower	narrow	ADJ
ajfa-4025	226	23	or	or	CCONJ
ajfa-4025	226	24	negative	negative	ADJ
ajfa-4025	226	25	magnitude	magnitude	NOUN
ajfa-4025	226	26	in	in	ADP
ajfa-4025	226	27	the	the	DET
ajfa-4025	226	28	term	term	NOUN
ajfa-4025	226	29	structure	structure	NOUN
ajfa-4025	226	30	is	be	AUX
ajfa-4025	226	31	related	relate	VERB
ajfa-4025	226	32	to	to	ADP
ajfa-4025	226	33	the	the	DET
ajfa-4025	226	34	gloomy	gloomy	ADJ
ajfa-4025	226	35	economic	economic	ADJ
ajfa-4025	226	36	future	future	ADJ
ajfa-4025	226	37	outlook	outlook	NOUN
ajfa-4025	226	38	thus	thus	ADV
ajfa-4025	226	39	depressing	depress	VERB
ajfa-4025	226	40	the	the	DET
ajfa-4025	226	41	stock	stock	NOUN
ajfa-4025	226	42	market	market	NOUN
ajfa-4025	226	43	.	.	PUNCT
ajfa-4025	227	1	in	in	ADP
ajfa-4025	227	2	contrast	contrast	NOUN
ajfa-4025	227	3	,	,	PUNCT
ajfa-4025	227	4	a	a	DET
ajfa-4025	227	5	wider	wide	ADJ
ajfa-4025	227	6	term	term	NOUN
ajfa-4025	227	7	structure	structure	NOUN
ajfa-4025	227	8	is	be	AUX
ajfa-4025	227	9	associated	associate	VERB
ajfa-4025	227	10	with	with	ADP
ajfa-4025	227	11	a	a	DET
ajfa-4025	227	12	booming	booming	ADJ
ajfa-4025	227	13	economic	economic	ADJ
ajfa-4025	227	14	future	future	ADJ
ajfa-4025	227	15	outlook	outlook	NOUN
ajfa-4025	227	16	and	and	CCONJ
ajfa-4025	227	17	thus	thus	ADV
ajfa-4025	227	18	increases	increase	VERB
ajfa-4025	227	19	the	the	DET
ajfa-4025	227	20	stock	stock	NOUN
ajfa-4025	227	21	price	price	NOUN
ajfa-4025	227	22	.	.	PUNCT
ajfa-4025	228	1	in	in	ADP
ajfa-4025	228	2	sub	sub	NOUN
ajfa-4025	228	3	-	-	NOUN
ajfa-4025	228	4	period	period	NOUN
ajfa-4025	228	5	b	b	NOUN
ajfa-4025	228	6	,	,	PUNCT
ajfa-4025	228	7	all	all	DET
ajfa-4025	228	8	macroeconomic	macroeconomic	ADJ
ajfa-4025	228	9	variables	variable	NOUN
ajfa-4025	228	10	except	except	SCONJ
ajfa-4025	228	11	for	for	ADP
ajfa-4025	228	12	in	in	ADP
ajfa-4025	228	13	our	our	PRON
ajfa-4025	228	14	analysis	analysis	NOUN
ajfa-4025	228	15	shows	show	VERB
ajfa-4025	228	16	significance	significance	NOUN
ajfa-4025	228	17	effect	effect	NOUN
ajfa-4025	228	18	on	on	ADP
ajfa-4025	228	19	number	number	NOUN
ajfa-4025	228	20	of	of	ADP
ajfa-4025	228	21	portfolios	portfolio	NOUN
ajfa-4025	228	22	,	,	PUNCT
ajfa-4025	228	23	namely	namely	ADV
ajfa-4025	228	24	,	,	PUNCT
ajfa-4025	228	25	peh	peh	PROPN
ajfa-4025	228	26	,	,	PUNCT
ajfa-4025	228	27	pem	pem	NOUN
ajfa-4025	228	28	,	,	PUNCT
ajfa-4025	228	29	pel	pel	PROPN
ajfa-4025	228	30	,	,	PUNCT
ajfa-4025	228	31	bmm	bmm	PROPN
ajfa-4025	228	32	,	,	PUNCT
ajfa-4025	228	33	bml	bml	PROPN
ajfa-4025	228	34	,	,	PUNCT
ajfa-4025	228	35	meh	meh	NOUN
ajfa-4025	228	36	and	and	CCONJ
ajfa-4025	228	37	mel	mel	PROPN
ajfa-4025	228	38	.	.	PROPN
ajfa-4025	229	1	from	from	ADP
ajfa-4025	229	2	table	table	NOUN
ajfa-4025	229	3	8	8	NUM
ajfa-4025	229	4	,	,	PUNCT
ajfa-4025	229	5	,	,	PUNCT
ajfa-4025	229	6	,	,	PUNCT
ajfa-4025	229	7	and	and	CCONJ
ajfa-4025	229	8	show	show	VERB
ajfa-4025	229	9	a	a	DET
ajfa-4025	229	10	significant	significant	ADJ
ajfa-4025	229	11	positive	positive	ADJ
ajfa-4025	229	12	correlation	correlation	NOUN
ajfa-4025	229	13	with	with	ADP
ajfa-4025	229	14	stock	stock	NOUN
ajfa-4025	229	15	return	return	NOUN
ajfa-4025	229	16	,	,	PUNCT
ajfa-4025	229	17	while	while	SCONJ
ajfa-4025	229	18	shows	show	VERB
ajfa-4025	229	19	a	a	DET
ajfa-4025	229	20	significant	significant	ADJ
ajfa-4025	229	21	negative	negative	ADJ
ajfa-4025	229	22	correlation	correlation	NOUN
ajfa-4025	229	23	with	with	ADP
ajfa-4025	229	24	stock	stock	NOUN
ajfa-4025	229	25	return	return	NOUN
ajfa-4025	229	26	.	.	PUNCT
ajfa-4025	230	1	in	in	ADP
ajfa-4025	230	2	this	this	DET
ajfa-4025	230	3	case	case	NOUN
ajfa-4025	230	4	,	,	PUNCT
ajfa-4025	230	5	the	the	DET
ajfa-4025	230	6	thailand	thailand	PROPN
ajfa-4025	230	7	stimulus	stimulus	PROPN
ajfa-4025	230	8	package	package	NOUN
ajfa-4025	230	9	seems	seem	VERB
ajfa-4025	230	10	to	to	PART
ajfa-4025	230	11	have	have	AUX
ajfa-4025	230	12	made	make	VERB
ajfa-4025	230	13	a	a	DET
ajfa-4025	230	14	strong	strong	ADJ
ajfa-4025	230	15	contribution	contribution	NOUN
ajfa-4025	230	16	to	to	ADP
ajfa-4025	230	17	the	the	DET
ajfa-4025	230	18	correlation	correlation	NOUN
ajfa-4025	230	19	of	of	ADP
ajfa-4025	230	20	macroeconomic	macroeconomic	ADJ
ajfa-4025	230	21	variables	variable	NOUN
ajfa-4025	230	22	such	such	ADJ
ajfa-4025	230	23	as	as	ADP
ajfa-4025	230	24	,	,	PUNCT
ajfa-4025	230	25	,	,	PUNCT
ajfa-4025	230	26	and	and	CCONJ
ajfa-4025	230	27	with	with	ADP
ajfa-4025	230	28	stock	stock	NOUN
ajfa-4025	230	29	return	return	NOUN
ajfa-4025	230	30	during	during	ADP
ajfa-4025	230	31	sub	sub	NOUN
ajfa-4025	230	32	-	-	NOUN
ajfa-4025	230	33	period	period	NOUN
ajfa-4025	230	34	b.	b.	NOUN
ajfa-4025	231	1	the	the	DET
ajfa-4025	231	2	study	study	NOUN
ajfa-4025	231	3	of	of	ADP
ajfa-4025	231	4	chirathivat	chirathivat	NOUN
ajfa-4025	231	5	and	and	CCONJ
ajfa-4025	231	6	malikamas	malikamas	PROPN
ajfa-4025	231	7	(	(	PUNCT
ajfa-4025	231	8	2010	2010	NUM
ajfa-4025	231	9	)	)	PUNCT
ajfa-4025	231	10	explains	explain	VERB
ajfa-4025	231	11	that	that	SCONJ
ajfa-4025	231	12	thailand	thailand	PROPN
ajfa-4025	231	13	instituted	institute	VERB
ajfa-4025	231	14	a	a	DET
ajfa-4025	231	15	few	few	ADJ
ajfa-4025	231	16	economic	economic	ADJ
ajfa-4025	231	17	stimulus	stimulus	NOUN
ajfa-4025	231	18	plans	plan	NOUN
ajfa-4025	231	19	to	to	PART
ajfa-4025	231	20	stimulate	stimulate	VERB
ajfa-4025	231	21	the	the	DET
ajfa-4025	231	22	gloomy	gloomy	ADJ
ajfa-4025	231	23	economy	economy	NOUN
ajfa-4025	231	24	during	during	ADP
ajfa-4025	231	25	the	the	DET
ajfa-4025	231	26	crisis	crisis	NOUN
ajfa-4025	231	27	and	and	CCONJ
ajfa-4025	231	28	post	post	ADJ
ajfa-4025	231	29	-	-	ADJ
ajfa-4025	231	30	crisis	crisis	ADJ
ajfa-4025	231	31	period	period	NOUN
ajfa-4025	231	32	.	.	PUNCT
ajfa-4025	232	1	an	an	DET
ajfa-4025	232	2	increase	increase	NOUN
ajfa-4025	232	3	in	in	ADP
ajfa-4025	232	4	money	money	NOUN
ajfa-4025	232	5	supply	supply	NOUN
ajfa-4025	232	6	was	be	AUX
ajfa-4025	232	7	required	require	VERB
ajfa-4025	232	8	during	during	ADP
ajfa-4025	232	9	this	this	DET
ajfa-4025	232	10	stimulus	stimulus	ADJ
ajfa-4025	232	11	period	period	NOUN
ajfa-4025	232	12	and	and	CCONJ
ajfa-4025	232	13	in	in	ADP
ajfa-4025	232	14	the	the	DET
ajfa-4025	232	15	meantime	meantime	ADJ
ajfa-4025	232	16	real	real	ADJ
ajfa-4025	232	17	economic	economic	ADJ
ajfa-4025	232	18	activities	activity	NOUN
ajfa-4025	232	19	were	be	AUX
ajfa-4025	232	20	expanding	expand	VERB
ajfa-4025	232	21	through	through	ADP
ajfa-4025	232	22	this	this	DET
ajfa-4025	232	23	economic	economic	ADJ
ajfa-4025	232	24	stimulus	stimulus	ADJ
ajfa-4025	232	25	event	event	NOUN
ajfa-4025	232	26	.	.	PUNCT
ajfa-4025	233	1	the	the	DET
ajfa-4025	233	2	oil	oil	NOUN
ajfa-4025	233	3	price	price	NOUN
ajfa-4025	233	4	seems	seem	VERB
ajfa-4025	233	5	to	to	PART
ajfa-4025	233	6	have	have	AUX
ajfa-4025	233	7	followed	follow	VERB
ajfa-4025	233	8	the	the	DET
ajfa-4025	233	9	aggregate	aggregate	ADJ
ajfa-4025	233	10	demand	demand	NOUN
ajfa-4025	233	11	side	side	NOUN
ajfa-4025	233	12	during	during	ADP
ajfa-4025	233	13	the	the	DET
ajfa-4025	233	14	economic	economic	ADJ
ajfa-4025	233	15	expansion	expansion	NOUN
ajfa-4025	233	16	period	period	NOUN
ajfa-4025	233	17	after	after	ADP
ajfa-4025	233	18	the	the	DET
ajfa-4025	233	19	crisis	crisis	NOUN
ajfa-4025	233	20	when	when	SCONJ
ajfa-4025	233	21	most	most	ADJ
ajfa-4025	233	22	countries	country	NOUN
ajfa-4025	233	23	were	be	AUX
ajfa-4025	233	24	instituting	institute	VERB
ajfa-4025	233	25	economic	economic	ADJ
ajfa-4025	233	26	stimulus	stimulus	ADJ
ajfa-4025	233	27	events	event	NOUN
ajfa-4025	233	28	to	to	PART
ajfa-4025	233	29	boost	boost	VERB
ajfa-4025	233	30	the	the	DET
ajfa-4025	233	31	economic	economic	ADJ
ajfa-4025	233	32	outlook	outlook	NOUN
ajfa-4025	233	33	.	.	PUNCT
ajfa-4025	234	1	an	an	DET
ajfa-4025	234	2	economic	economic	ADJ
ajfa-4025	234	3	stimulus	stimulus	ADJ
ajfa-4025	234	4	event	event	NOUN
ajfa-4025	234	5	seems	seem	VERB
ajfa-4025	234	6	to	to	PART
ajfa-4025	234	7	be	be	AUX
ajfa-4025	234	8	favourable	favourable	ADJ
ajfa-4025	234	9	event	event	NOUN
ajfa-4025	234	10	for	for	ADP
ajfa-4025	234	11	the	the	DET
ajfa-4025	234	12	stock	stock	NOUN
ajfa-4025	234	13	market	market	NOUN
ajfa-4025	234	14	during	during	ADP
ajfa-4025	234	15	the	the	DET
ajfa-4025	234	16	crisis	crisis	NOUN
ajfa-4025	234	17	and	and	CCONJ
ajfa-4025	234	18	post	post	ADJ
ajfa-4025	234	19	-	-	ADJ
ajfa-4025	234	20	crisis	crisis	ADJ
ajfa-4025	234	21	period	period	NOUN
ajfa-4025	234	22	.	.	PUNCT
ajfa-4025	235	1	in	in	ADP
ajfa-4025	235	2	addition	addition	NOUN
ajfa-4025	235	3	,	,	PUNCT
ajfa-4025	235	4	the	the	DET
ajfa-4025	235	5	escalation	escalation	NOUN
ajfa-4025	235	6	of	of	ADP
ajfa-4025	235	7	the	the	DET
ajfa-4025	235	8	oil	oil	NOUN
ajfa-4025	235	9	price	price	NOUN
ajfa-4025	235	10	could	could	AUX
ajfa-4025	235	11	lead	lead	VERB
ajfa-4025	235	12	to	to	ADP
ajfa-4025	235	13	higher	high	ADJ
ajfa-4025	235	14	inflation	inflation	NOUN
ajfa-4025	235	15	(	(	PUNCT
ajfa-4025	235	16	wurzel	wurzel	PROPN
ajfa-4025	235	17	et	et	PROPN
ajfa-4025	235	18	al	al	PROPN
ajfa-4025	235	19	.	.	PROPN
ajfa-4025	235	20	,	,	PUNCT
ajfa-4025	235	21	2009	2009	NUM
ajfa-4025	235	22	)	)	PUNCT
ajfa-4025	235	23	.	.	PUNCT
ajfa-4025	236	1	this	this	PRON
ajfa-4025	236	2	is	be	AUX
ajfa-4025	236	3	asian	asian	ADJ
ajfa-4025	236	4	journal	journal	NOUN
ajfa-4025	236	5	of	of	ADP
ajfa-4025	236	6	finance	finance	PROPN
ajfa-4025	236	7	&	&	CCONJ
ajfa-4025	236	8	accounting	accounting	PROPN
ajfa-4025	236	9	issn	issn	PROPN
ajfa-4025	236	10	1946	1946	NUM
ajfa-4025	236	11	-	-	PUNCT
ajfa-4025	236	12	052x	052x	NOUN
ajfa-4025	236	13	2013	2013	NUM
ajfa-4025	236	14	,	,	PUNCT
ajfa-4025	236	15	vol	vol	NOUN
ajfa-4025	236	16	.	.	PROPN
ajfa-4025	236	17	5	5	NUM
ajfa-4025	236	18	,	,	PUNCT
ajfa-4025	236	19	no	no	INTJ
ajfa-4025	236	20	.	.	NOUN
ajfa-4025	236	21	2	2	NUM
ajfa-4025	236	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	236	23	176	176	NUM
ajfa-4025	236	24	because	because	SCONJ
ajfa-4025	236	25	oil	oil	NOUN
ajfa-4025	236	26	is	be	AUX
ajfa-4025	236	27	major	major	ADJ
ajfa-4025	236	28	commodity	commodity	NOUN
ajfa-4025	236	29	in	in	ADP
ajfa-4025	236	30	the	the	DET
ajfa-4025	236	31	economy	economy	NOUN
ajfa-4025	236	32	and	and	CCONJ
ajfa-4025	236	33	acts	act	VERB
ajfa-4025	236	34	as	as	ADP
ajfa-4025	236	35	an	an	DET
ajfa-4025	236	36	input	input	NOUN
ajfa-4025	236	37	or	or	CCONJ
ajfa-4025	236	38	cost	cost	NOUN
ajfa-4025	236	39	of	of	ADP
ajfa-4025	236	40	production	production	NOUN
ajfa-4025	236	41	in	in	ADP
ajfa-4025	236	42	most	most	ADJ
ajfa-4025	236	43	industries	industry	NOUN
ajfa-4025	236	44	.	.	PUNCT
ajfa-4025	237	1	5	5	X
ajfa-4025	237	2	.	.	X
ajfa-4025	237	3	conclusion	conclusion	NOUN
ajfa-4025	237	4	a	a	DET
ajfa-4025	237	5	large	large	ADJ
ajfa-4025	237	6	number	number	NOUN
ajfa-4025	237	7	of	of	ADP
ajfa-4025	237	8	previous	previous	ADJ
ajfa-4025	237	9	studies	study	NOUN
ajfa-4025	237	10	show	show	VERB
ajfa-4025	237	11	that	that	SCONJ
ajfa-4025	237	12	there	there	PRON
ajfa-4025	237	13	is	be	VERB
ajfa-4025	237	14	a	a	DET
ajfa-4025	237	15	relationship	relationship	NOUN
ajfa-4025	237	16	between	between	ADP
ajfa-4025	237	17	macroeconomic	macroeconomic	ADJ
ajfa-4025	237	18	variables	variable	NOUN
ajfa-4025	237	19	and	and	CCONJ
ajfa-4025	237	20	stock	stock	NOUN
ajfa-4025	237	21	return	return	NOUN
ajfa-4025	237	22	.	.	PUNCT
ajfa-4025	238	1	these	these	DET
ajfa-4025	238	2	studies	study	NOUN
ajfa-4025	238	3	have	have	AUX
ajfa-4025	238	4	provided	provide	VERB
ajfa-4025	238	5	different	different	ADJ
ajfa-4025	238	6	findings	finding	NOUN
ajfa-4025	238	7	due	due	ADP
ajfa-4025	238	8	to	to	ADP
ajfa-4025	238	9	the	the	DET
ajfa-4025	238	10	different	different	ADJ
ajfa-4025	238	11	periods	period	NOUN
ajfa-4025	238	12	covered	cover	VERB
ajfa-4025	238	13	,	,	PUNCT
ajfa-4025	238	14	time	time	NOUN
ajfa-4025	238	15	spans	span	NOUN
ajfa-4025	238	16	,	,	PUNCT
ajfa-4025	238	17	macroeconomic	macroeconomic	ADJ
ajfa-4025	238	18	factors	factor	NOUN
ajfa-4025	238	19	,	,	PUNCT
ajfa-4025	238	20	methodologies	methodology	NOUN
ajfa-4025	238	21	and	and	CCONJ
ajfa-4025	238	22	countries	country	NOUN
ajfa-4025	238	23	examined	examine	VERB
ajfa-4025	238	24	.	.	PUNCT
ajfa-4025	239	1	this	this	DET
ajfa-4025	239	2	paper	paper	NOUN
ajfa-4025	239	3	extends	extend	VERB
ajfa-4025	239	4	the	the	DET
ajfa-4025	239	5	literature	literature	NOUN
ajfa-4025	239	6	by	by	ADP
ajfa-4025	239	7	considering	consider	VERB
ajfa-4025	239	8	the	the	DET
ajfa-4025	239	9	effect	effect	NOUN
ajfa-4025	239	10	of	of	ADP
ajfa-4025	239	11	firm	firm	ADJ
ajfa-4025	239	12	characteristics	characteristic	NOUN
ajfa-4025	239	13	to	to	PART
ajfa-4025	239	14	examine	examine	VERB
ajfa-4025	239	15	a	a	DET
ajfa-4025	239	16	cross	cross	ADJ
ajfa-4025	239	17	-	-	ADJ
ajfa-4025	239	18	sectional	sectional	ADJ
ajfa-4025	239	19	view	view	NOUN
ajfa-4025	239	20	of	of	ADP
ajfa-4025	239	21	the	the	DET
ajfa-4025	239	22	stock	stock	NOUN
ajfa-4025	239	23	markets	market	NOUN
ajfa-4025	239	24	in	in	ADP
ajfa-4025	239	25	malaysia	malaysia	PROPN
ajfa-4025	239	26	,	,	PUNCT
ajfa-4025	239	27	indonesia	indonesia	PROPN
ajfa-4025	239	28	,	,	PUNCT
ajfa-4025	239	29	singapore	singapore	PROPN
ajfa-4025	239	30	and	and	CCONJ
ajfa-4025	239	31	thailand	thailand	PROPN
ajfa-4025	239	32	.	.	PUNCT
ajfa-4025	240	1	moreover	moreover	ADV
ajfa-4025	240	2	,	,	PUNCT
ajfa-4025	240	3	two	two	NUM
ajfa-4025	240	4	sub	sub	NOUN
ajfa-4025	240	5	-	-	ADJ
ajfa-4025	240	6	periods	period	NOUN
ajfa-4025	240	7	were	be	AUX
ajfa-4025	240	8	analysed	analyse	VERB
ajfa-4025	240	9	to	to	PART
ajfa-4025	240	10	examine	examine	VERB
ajfa-4025	240	11	the	the	DET
ajfa-4025	240	12	relationship	relationship	NOUN
ajfa-4025	240	13	between	between	ADP
ajfa-4025	240	14	macroeconomic	macroeconomic	ADJ
ajfa-4025	240	15	variables	variable	NOUN
ajfa-4025	240	16	and	and	CCONJ
ajfa-4025	240	17	different	different	ADJ
ajfa-4025	240	18	portfolios	portfolio	NOUN
ajfa-4025	240	19	in	in	ADP
ajfa-4025	240	20	different	different	ADJ
ajfa-4025	240	21	sub	sub	NOUN
ajfa-4025	240	22	-	-	NOUN
ajfa-4025	240	23	periods	period	NOUN
ajfa-4025	240	24	.	.	PUNCT
ajfa-4025	241	1	as	as	SCONJ
ajfa-4025	241	2	mentioned	mention	VERB
ajfa-4025	241	3	in	in	ADP
ajfa-4025	241	4	the	the	DET
ajfa-4025	241	5	study	study	NOUN
ajfa-4025	241	6	of	of	ADP
ajfa-4025	241	7	erdogan	erdogan	ADJ
ajfa-4025	241	8	and	and	CCONJ
ajfa-4025	241	9	ozlale	ozlale	NOUN
ajfa-4025	241	10	(	(	PUNCT
ajfa-4025	241	11	2005	2005	NUM
ajfa-4025	241	12	)	)	PUNCT
ajfa-4025	241	13	,	,	PUNCT
ajfa-4025	241	14	the	the	DET
ajfa-4025	241	15	relationship	relationship	NOUN
ajfa-4025	241	16	between	between	ADP
ajfa-4025	241	17	macroeconomic	macroeconomic	ADJ
ajfa-4025	241	18	variables	variable	NOUN
ajfa-4025	241	19	and	and	CCONJ
ajfa-4025	241	20	stock	stock	NOUN
ajfa-4025	241	21	return	return	NOUN
ajfa-4025	241	22	has	have	AUX
ajfa-4025	241	23	not	not	PART
ajfa-4025	241	24	been	be	AUX
ajfa-4025	241	25	consistent	consistent	ADJ
ajfa-4025	241	26	over	over	ADP
ajfa-4025	241	27	time	time	NOUN
ajfa-4025	241	28	due	due	ADP
ajfa-4025	241	29	to	to	ADP
ajfa-4025	241	30	structural	structural	ADJ
ajfa-4025	241	31	change	change	NOUN
ajfa-4025	241	32	.	.	PUNCT
ajfa-4025	242	1	our	our	PRON
ajfa-4025	242	2	empirical	empirical	ADJ
ajfa-4025	242	3	findings	finding	NOUN
ajfa-4025	242	4	showed	show	VERB
ajfa-4025	242	5	that	that	SCONJ
ajfa-4025	242	6	the	the	DET
ajfa-4025	242	7	significance	significance	NOUN
ajfa-4025	242	8	relationship	relationship	NOUN
ajfa-4025	242	9	between	between	ADP
ajfa-4025	242	10	macroeconomic	macroeconomic	ADJ
ajfa-4025	242	11	variables	variable	NOUN
ajfa-4025	242	12	and	and	CCONJ
ajfa-4025	242	13	portfolio	portfolio	NOUN
ajfa-4025	242	14	stock	stock	NOUN
ajfa-4025	242	15	returns	return	NOUN
ajfa-4025	242	16	were	be	AUX
ajfa-4025	242	17	not	not	PART
ajfa-4025	242	18	consistent	consistent	ADJ
ajfa-4025	242	19	for	for	ADP
ajfa-4025	242	20	both	both	DET
ajfa-4025	242	21	sub	sub	NOUN
ajfa-4025	242	22	-	-	ADJ
ajfa-4025	242	23	periods	period	NOUN
ajfa-4025	242	24	.	.	PUNCT
ajfa-4025	243	1	results	result	NOUN
ajfa-4025	243	2	are	be	AUX
ajfa-4025	243	3	highly	highly	ADV
ajfa-4025	243	4	dependent	dependent	ADJ
ajfa-4025	243	5	on	on	ADP
ajfa-4025	243	6	portfolio	portfolio	NOUN
ajfa-4025	243	7	,	,	PUNCT
ajfa-4025	243	8	country	country	NOUN
ajfa-4025	243	9	and	and	CCONJ
ajfa-4025	243	10	sub	sub	NOUN
ajfa-4025	243	11	-	-	NOUN
ajfa-4025	243	12	period	period	NOUN
ajfa-4025	243	13	in	in	ADP
ajfa-4025	243	14	our	our	PRON
ajfa-4025	243	15	analysis	analysis	NOUN
ajfa-4025	243	16	.	.	PUNCT
ajfa-4025	244	1	during	during	ADP
ajfa-4025	244	2	pre	pre	ADJ
ajfa-4025	244	3	-	-	ADJ
ajfa-4025	244	4	crisis	crisis	ADJ
ajfa-4025	244	5	period	period	NOUN
ajfa-4025	244	6	(	(	PUNCT
ajfa-4025	244	7	sub	sub	NOUN
ajfa-4025	244	8	-	-	NOUN
ajfa-4025	244	9	period	period	NOUN
ajfa-4025	244	10	a	a	NOUN
ajfa-4025	244	11	)	)	PUNCT
ajfa-4025	244	12	,	,	PUNCT
ajfa-4025	244	13	portfolios	portfolio	NOUN
ajfa-4025	244	14	in	in	ADP
ajfa-4025	244	15	malaysia	malaysia	PROPN
ajfa-4025	244	16	showed	show	VERB
ajfa-4025	244	17	a	a	DET
ajfa-4025	244	18	significant	significant	ADJ
ajfa-4025	244	19	relationship	relationship	NOUN
ajfa-4025	244	20	with	with	ADP
ajfa-4025	244	21	;	;	PUNCT
ajfa-4025	244	22	portfolios	portfolio	NOUN
ajfa-4025	244	23	in	in	ADP
ajfa-4025	244	24	singapore	singapore	PROPN
ajfa-4025	244	25	showed	show	VERB
ajfa-4025	244	26	a	a	DET
ajfa-4025	244	27	significant	significant	ADJ
ajfa-4025	244	28	relationship	relationship	NOUN
ajfa-4025	244	29	with	with	ADP
ajfa-4025	244	30	and	and	CCONJ
ajfa-4025	244	31	;	;	PUNCT
ajfa-4025	244	32	portfolios	portfolio	NOUN
ajfa-4025	244	33	in	in	ADP
ajfa-4025	244	34	thailand	thailand	PROPN
ajfa-4025	244	35	showed	show	VERB
ajfa-4025	244	36	a	a	DET
ajfa-4025	244	37	significant	significant	ADJ
ajfa-4025	244	38	relationship	relationship	NOUN
ajfa-4025	244	39	with	with	ADP
ajfa-4025	244	40	and	and	CCONJ
ajfa-4025	244	41	;	;	PUNCT
ajfa-4025	244	42	and	and	CCONJ
ajfa-4025	244	43	portfolios	portfolio	NOUN
ajfa-4025	244	44	in	in	ADP
ajfa-4025	244	45	indonesia	indonesia	PROPN
ajfa-4025	244	46	showed	show	VERB
ajfa-4025	244	47	a	a	DET
ajfa-4025	244	48	significant	significant	ADJ
ajfa-4025	244	49	relationship	relationship	NOUN
ajfa-4025	244	50	with	with	ADP
ajfa-4025	244	51	,	,	PUNCT
ajfa-4025	244	52	and	and	CCONJ
ajfa-4025	244	53	.	.	PUNCT
ajfa-4025	245	1	on	on	ADP
ajfa-4025	245	2	the	the	DET
ajfa-4025	245	3	other	other	ADJ
ajfa-4025	245	4	hand	hand	NOUN
ajfa-4025	245	5	,	,	PUNCT
ajfa-4025	245	6	during	during	ADP
ajfa-4025	245	7	crisis	crisis	NOUN
ajfa-4025	245	8	and	and	CCONJ
ajfa-4025	245	9	post	post	VERB
ajfa-4025	245	10	crisis	crisis	NOUN
ajfa-4025	245	11	period	period	NOUN
ajfa-4025	245	12	(	(	PUNCT
ajfa-4025	245	13	sub	sub	NOUN
ajfa-4025	245	14	-	-	NOUN
ajfa-4025	245	15	period	period	NOUN
ajfa-4025	245	16	b	b	NOUN
ajfa-4025	245	17	)	)	PUNCT
ajfa-4025	245	18	,	,	PUNCT
ajfa-4025	245	19	portfolios	portfolio	NOUN
ajfa-4025	245	20	in	in	ADP
ajfa-4025	245	21	malaysia	malaysia	PROPN
ajfa-4025	245	22	showed	show	VERB
ajfa-4025	245	23	a	a	DET
ajfa-4025	245	24	significant	significant	ADJ
ajfa-4025	245	25	relationship	relationship	NOUN
ajfa-4025	245	26	with	with	ADP
ajfa-4025	245	27	;	;	PUNCT
ajfa-4025	245	28	portfolios	portfolio	NOUN
ajfa-4025	245	29	in	in	ADP
ajfa-4025	245	30	singapore	singapore	PROPN
ajfa-4025	245	31	showed	show	VERB
ajfa-4025	245	32	a	a	DET
ajfa-4025	245	33	significant	significant	ADJ
ajfa-4025	245	34	relationship	relationship	NOUN
ajfa-4025	245	35	with	with	ADP
ajfa-4025	245	36	;	;	PUNCT
ajfa-4025	245	37	portfolios	portfolio	NOUN
ajfa-4025	245	38	in	in	ADP
ajfa-4025	245	39	thailand	thailand	PROPN
ajfa-4025	245	40	showed	show	VERB
ajfa-4025	245	41	a	a	DET
ajfa-4025	245	42	significant	significant	ADJ
ajfa-4025	245	43	relationship	relationship	NOUN
ajfa-4025	245	44	with	with	ADP
ajfa-4025	245	45	,	,	PUNCT
ajfa-4025	245	46	,	,	PUNCT
ajfa-4025	245	47	,	,	PUNCT
ajfa-4025	245	48	and	and	CCONJ
ajfa-4025	245	49	;	;	PUNCT
ajfa-4025	245	50	and	and	CCONJ
ajfa-4025	245	51	portfolios	portfolio	NOUN
ajfa-4025	245	52	in	in	ADP
ajfa-4025	245	53	indonesia	indonesia	PROPN
ajfa-4025	245	54	showed	show	VERB
ajfa-4025	245	55	a	a	DET
ajfa-4025	245	56	significant	significant	ADJ
ajfa-4025	245	57	relationship	relationship	NOUN
ajfa-4025	245	58	with	with	ADP
ajfa-4025	245	59	,	,	PUNCT
ajfa-4025	245	60	and	and	CCONJ
ajfa-4025	245	61	.	.	PUNCT
ajfa-4025	246	1	in	in	ADP
ajfa-4025	246	2	conclusion	conclusion	NOUN
ajfa-4025	246	3	,	,	PUNCT
ajfa-4025	246	4	the	the	DET
ajfa-4025	246	5	results	result	NOUN
ajfa-4025	246	6	indicate	indicate	VERB
ajfa-4025	246	7	macroeconomic	macroeconomic	ADJ
ajfa-4025	246	8	factors	factor	NOUN
ajfa-4025	246	9	have	have	VERB
ajfa-4025	246	10	significance	significance	NOUN
ajfa-4025	246	11	effect	effect	NOUN
ajfa-4025	246	12	in	in	ADP
ajfa-4025	246	13	malaysia	malaysia	PROPN
ajfa-4025	246	14	,	,	PUNCT
ajfa-4025	246	15	indonesia	indonesia	PROPN
ajfa-4025	246	16	,	,	PUNCT
ajfa-4025	246	17	singapore	singapore	PROPN
ajfa-4025	246	18	and	and	CCONJ
ajfa-4025	246	19	thailand	thailand	PROPN
ajfa-4025	246	20	stock	stock	NOUN
ajfa-4025	246	21	market	market	NOUN
ajfa-4025	246	22	.	.	PUNCT
ajfa-4025	247	1	however	however	ADV
ajfa-4025	247	2	,	,	PUNCT
ajfa-4025	247	3	each	each	DET
ajfa-4025	247	4	factor	factor	NOUN
ajfa-4025	247	5	may	may	AUX
ajfa-4025	247	6	react	react	VERB
ajfa-4025	247	7	differently	differently	ADV
ajfa-4025	247	8	based	base	VERB
ajfa-4025	247	9	on	on	ADP
ajfa-4025	247	10	different	different	ADJ
ajfa-4025	247	11	portfolios	portfolio	NOUN
ajfa-4025	247	12	,	,	PUNCT
ajfa-4025	247	13	different	different	ADJ
ajfa-4025	247	14	sub	sub	NOUN
ajfa-4025	247	15	-	-	ADJ
ajfa-4025	247	16	periods	period	NOUN
ajfa-4025	247	17	and	and	CCONJ
ajfa-4025	247	18	different	different	ADJ
ajfa-4025	247	19	countries	country	NOUN
ajfa-4025	247	20	in	in	ADP
ajfa-4025	247	21	our	our	PRON
ajfa-4025	247	22	analysis	analysis	NOUN
ajfa-4025	247	23	.	.	PUNCT
ajfa-4025	248	1	for	for	ADP
ajfa-4025	248	2	instance	instance	NOUN
ajfa-4025	248	3	,	,	PUNCT
ajfa-4025	248	4	the	the	DET
ajfa-4025	248	5	result	result	NOUN
ajfa-4025	248	6	shows	show	VERB
ajfa-4025	248	7	that	that	PRON
ajfa-4025	248	8	appreciate	appreciate	VERB
ajfa-4025	248	9	in	in	ADP
ajfa-4025	248	10	currency	currency	NOUN
ajfa-4025	248	11	in	in	ADP
ajfa-4025	248	12	indonesia	indonesia	PROPN
ajfa-4025	248	13	and	and	CCONJ
ajfa-4025	248	14	singapore	singapore	PROPN
ajfa-4025	248	15	provides	provide	VERB
ajfa-4025	248	16	better	well	ADJ
ajfa-4025	248	17	stock	stock	NOUN
ajfa-4025	248	18	return	return	NOUN
ajfa-4025	248	19	in	in	ADP
ajfa-4025	248	20	return	return	NOUN
ajfa-4025	248	21	;	;	PUNCT
ajfa-4025	248	22	during	during	ADP
ajfa-4025	248	23	the	the	DET
ajfa-4025	248	24	crisis	crisis	NOUN
ajfa-4025	248	25	and	and	CCONJ
ajfa-4025	248	26	post	post	VERB
ajfa-4025	248	27	crisis	crisis	NOUN
ajfa-4025	248	28	period(sub	period(sub	NOUN
ajfa-4025	248	29	-	-	PUNCT
ajfa-4025	248	30	period	period	NOUN
ajfa-4025	248	31	b	b	NOUN
ajfa-4025	248	32	)	)	PUNCT
ajfa-4025	248	33	,	,	PUNCT
ajfa-4025	248	34	the	the	DET
ajfa-4025	248	35	stock	stock	NOUN
ajfa-4025	248	36	markets	market	NOUN
ajfa-4025	248	37	of	of	ADP
ajfa-4025	248	38	mist	mist	NOUN
ajfa-4025	248	39	are	be	AUX
ajfa-4025	248	40	more	more	ADV
ajfa-4025	248	41	reactive	reactive	ADJ
ajfa-4025	248	42	to	to	ADP
ajfa-4025	248	43	the	the	DET
ajfa-4025	248	44	change	change	NOUN
ajfa-4025	248	45	in	in	ADP
ajfa-4025	248	46	oil	oil	NOUN
ajfa-4025	248	47	price	price	NOUN
ajfa-4025	248	48	;	;	PUNCT
ajfa-4025	248	49	on	on	ADP
ajfa-4025	248	50	the	the	DET
ajfa-4025	248	51	other	other	ADJ
ajfa-4025	248	52	hand	hand	NOUN
ajfa-4025	248	53	,	,	PUNCT
ajfa-4025	248	54	the	the	DET
ajfa-4025	248	55	result	result	NOUN
ajfa-4025	248	56	of	of	ADP
ajfa-4025	248	57	thailand	thailand	PROPN
ajfa-4025	248	58	shows	show	VERB
ajfa-4025	248	59	the	the	DET
ajfa-4025	248	60	positive	positive	ADJ
ajfa-4025	248	61	correlation	correlation	NOUN
ajfa-4025	248	62	between	between	ADP
ajfa-4025	248	63	change	change	NOUN
ajfa-4025	248	64	in	in	ADP
ajfa-4025	248	65	inflation	inflation	NOUN
ajfa-4025	248	66	and	and	CCONJ
ajfa-4025	248	67	stock	stock	NOUN
ajfa-4025	248	68	return	return	NOUN
ajfa-4025	248	69	during	during	ADP
ajfa-4025	248	70	crisis	crisis	NOUN
ajfa-4025	248	71	and	and	CCONJ
ajfa-4025	248	72	post	post	VERB
ajfa-4025	248	73	crisis(sub	crisis(sub	NOUN
ajfa-4025	248	74	-	-	PUNCT
ajfa-4025	248	75	period	period	NOUN
ajfa-4025	248	76	b	b	NOUN
ajfa-4025	248	77	)	)	PUNCT
ajfa-4025	248	78	while	while	SCONJ
ajfa-4025	248	79	the	the	DET
ajfa-4025	248	80	result	result	NOUN
ajfa-4025	248	81	of	of	ADP
ajfa-4025	248	82	malaysia	malaysia	PROPN
ajfa-4025	248	83	and	and	CCONJ
ajfa-4025	248	84	indonesia	indonesia	PROPN
ajfa-4025	248	85	show	show	VERB
ajfa-4025	248	86	inflation	inflation	NOUN
ajfa-4025	248	87	is	be	AUX
ajfa-4025	248	88	negatively	negatively	ADV
ajfa-4025	248	89	correlated	correlate	VERB
ajfa-4025	248	90	to	to	ADP
ajfa-4025	248	91	stock	stock	NOUN
ajfa-4025	248	92	return	return	NOUN
ajfa-4025	248	93	before	before	ADP
ajfa-4025	248	94	the	the	DET
ajfa-4025	248	95	crisis	crisis	NOUN
ajfa-4025	248	96	period(sub	period(sub	NOUN
ajfa-4025	248	97	-	-	PUNCT
ajfa-4025	248	98	period	period	NOUN
ajfa-4025	248	99	a	a	PRON
ajfa-4025	248	100	)	)	PUNCT
ajfa-4025	248	101	.	.	PUNCT
ajfa-4025	249	1	all	all	DET
ajfa-4025	249	2	these	these	DET
ajfa-4025	249	3	findings	finding	NOUN
ajfa-4025	249	4	can	can	AUX
ajfa-4025	249	5	be	be	AUX
ajfa-4025	249	6	served	serve	VERB
ajfa-4025	249	7	as	as	ADP
ajfa-4025	249	8	good	good	ADJ
ajfa-4025	249	9	reference	reference	NOUN
ajfa-4025	249	10	for	for	ADP
ajfa-4025	249	11	the	the	DET
ajfa-4025	249	12	researchers	researcher	NOUN
ajfa-4025	249	13	in	in	ADP
ajfa-4025	249	14	their	their	PRON
ajfa-4025	249	15	future	future	ADJ
ajfa-4025	249	16	development	development	NOUN
ajfa-4025	249	17	in	in	ADP
ajfa-4025	249	18	the	the	DET
ajfa-4025	249	19	asset	asset	NOUN
ajfa-4025	249	20	valuation	valuation	NOUN
ajfa-4025	249	21	area	area	NOUN
ajfa-4025	249	22	.	.	PUNCT
ajfa-4025	250	1	asian	asian	ADJ
ajfa-4025	250	2	journal	journal	PROPN
ajfa-4025	250	3	of	of	ADP
ajfa-4025	250	4	finance	finance	PROPN
ajfa-4025	250	5	&	&	CCONJ
ajfa-4025	250	6	accounting	accounting	PROPN
ajfa-4025	250	7	issn	issn	PROPN
ajfa-4025	250	8	1946	1946	NUM
ajfa-4025	250	9	-	-	PUNCT
ajfa-4025	250	10	052x	052x	NOUN
ajfa-4025	250	11	2013	2013	NUM
ajfa-4025	250	12	,	,	PUNCT
ajfa-4025	250	13	vol	vol	NOUN
ajfa-4025	250	14	.	.	PROPN
ajfa-4025	250	15	5	5	NUM
ajfa-4025	250	16	,	,	PUNCT
ajfa-4025	250	17	no	no	INTJ
ajfa-4025	250	18	.	.	NOUN
ajfa-4025	250	19	2	2	NUM
ajfa-4025	250	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	250	21	177	177	NUM
ajfa-4025	250	22	based	base	VERB
ajfa-4025	250	23	on	on	ADP
ajfa-4025	250	24	the	the	DET
ajfa-4025	250	25	findings	finding	NOUN
ajfa-4025	250	26	presented	present	VERB
ajfa-4025	250	27	here	here	ADV
ajfa-4025	250	28	,	,	PUNCT
ajfa-4025	250	29	there	there	PRON
ajfa-4025	250	30	are	be	VERB
ajfa-4025	250	31	a	a	DET
ajfa-4025	250	32	number	number	NOUN
ajfa-4025	250	33	of	of	ADP
ajfa-4025	250	34	future	future	ADJ
ajfa-4025	250	35	research	research	NOUN
ajfa-4025	250	36	directions	direction	NOUN
ajfa-4025	250	37	that	that	PRON
ajfa-4025	250	38	could	could	AUX
ajfa-4025	250	39	be	be	AUX
ajfa-4025	250	40	taken	take	VERB
ajfa-4025	250	41	.	.	PUNCT
ajfa-4025	251	1	for	for	ADP
ajfa-4025	251	2	instance	instance	NOUN
ajfa-4025	251	3	,	,	PUNCT
ajfa-4025	251	4	further	further	ADJ
ajfa-4025	251	5	studies	study	NOUN
ajfa-4025	251	6	could	could	AUX
ajfa-4025	251	7	consider	consider	VERB
ajfa-4025	251	8	other	other	ADJ
ajfa-4025	251	9	macroeconomic	macroeconomic	ADJ
ajfa-4025	251	10	variables	variable	NOUN
ajfa-4025	251	11	such	such	ADJ
ajfa-4025	251	12	as	as	ADP
ajfa-4025	251	13	balance	balance	NOUN
ajfa-4025	251	14	of	of	ADP
ajfa-4025	251	15	trade	trade	NOUN
ajfa-4025	251	16	account	account	NOUN
ajfa-4025	251	17	and	and	CCONJ
ajfa-4025	251	18	government	government	NOUN
ajfa-4025	251	19	budget	budget	NOUN
ajfa-4025	251	20	(	(	PUNCT
ajfa-4025	251	21	budget	budget	NOUN
ajfa-4025	251	22	surplus	surplus	NOUN
ajfa-4025	251	23	or	or	CCONJ
ajfa-4025	251	24	deficit	deficit	NOUN
ajfa-4025	251	25	)	)	PUNCT
ajfa-4025	251	26	as	as	ADV
ajfa-4025	251	27	well	well	ADV
ajfa-4025	251	28	as	as	ADP
ajfa-4025	251	29	firm	firm	ADJ
ajfa-4025	251	30	characteristics	characteristic	NOUN
ajfa-4025	251	31	such	such	ADJ
ajfa-4025	251	32	as	as	ADP
ajfa-4025	251	33	volatility	volatility	NOUN
ajfa-4025	251	34	factor	factor	NOUN
ajfa-4025	251	35	and	and	CCONJ
ajfa-4025	251	36	cash	cash	NOUN
ajfa-4025	251	37	flow	flow	NOUN
ajfa-4025	251	38	to	to	ADP
ajfa-4025	251	39	price	price	NOUN
ajfa-4025	251	40	ratio	ratio	NOUN
ajfa-4025	251	41	to	to	PART
ajfa-4025	251	42	further	far	ADV
ajfa-4025	251	43	evaluate	evaluate	VERB
ajfa-4025	251	44	the	the	DET
ajfa-4025	251	45	situation	situation	NOUN
ajfa-4025	251	46	in	in	ADP
ajfa-4025	251	47	malaysia	malaysia	PROPN
ajfa-4025	251	48	,	,	PUNCT
ajfa-4025	251	49	singapore	singapore	PROPN
ajfa-4025	251	50	,	,	PUNCT
ajfa-4025	251	51	thailand	thailand	PROPN
ajfa-4025	251	52	and	and	CCONJ
ajfa-4025	251	53	indonesia	indonesia	PROPN
ajfa-4025	251	54	by	by	ADP
ajfa-4025	251	55	using	use	VERB
ajfa-4025	251	56	the	the	DET
ajfa-4025	251	57	same	same	ADJ
ajfa-4025	251	58	model	model	NOUN
ajfa-4025	251	59	.	.	PUNCT
ajfa-4025	252	1	in	in	ADP
ajfa-4025	252	2	conclusion	conclusion	NOUN
ajfa-4025	252	3	,	,	PUNCT
ajfa-4025	252	4	it	it	PRON
ajfa-4025	252	5	is	be	AUX
ajfa-4025	252	6	hoped	hope	VERB
ajfa-4025	252	7	that	that	SCONJ
ajfa-4025	252	8	this	this	DET
ajfa-4025	252	9	paper	paper	NOUN
ajfa-4025	252	10	will	will	AUX
ajfa-4025	252	11	be	be	AUX
ajfa-4025	252	12	of	of	ADP
ajfa-4025	252	13	benefit	benefit	NOUN
ajfa-4025	252	14	to	to	ADP
ajfa-4025	252	15	policy	policy	NOUN
ajfa-4025	252	16	maker	maker	NOUN
ajfa-4025	252	17	,	,	PUNCT
ajfa-4025	252	18	stock	stock	NOUN
ajfa-4025	252	19	investors	investor	NOUN
ajfa-4025	252	20	and	and	CCONJ
ajfa-4025	252	21	contribute	contribute	VERB
ajfa-4025	252	22	to	to	ADP
ajfa-4025	252	23	the	the	DET
ajfa-4025	252	24	financial	financial	ADJ
ajfa-4025	252	25	literature	literature	NOUN
ajfa-4025	252	26	.	.	PUNCT
ajfa-4025	253	1	references	reference	NOUN
ajfa-4025	253	2	abdelaziz	abdelaziz	PROPN
ajfa-4025	253	3	,	,	PUNCT
ajfa-4025	253	4	m.	m.	NOUN
ajfa-4025	253	5	,	,	PUNCT
ajfa-4025	253	6	chortareas	chortarea	NOUN
ajfa-4025	253	7	,	,	PUNCT
ajfa-4025	253	8	g.	g.	PROPN
ajfa-4025	253	9	,	,	PUNCT
ajfa-4025	253	10	&	&	CCONJ
ajfa-4025	253	11	cipollini	cipollini	PROPN
ajfa-4025	253	12	,	,	PUNCT
ajfa-4025	253	13	a.	a.	NOUN
ajfa-4025	253	14	(	(	PUNCT
ajfa-4025	253	15	2008	2008	NUM
ajfa-4025	253	16	)	)	PUNCT
ajfa-4025	253	17	.	.	PUNCT
ajfa-4025	254	1	stock	stock	NOUN
ajfa-4025	254	2	prices	price	NOUN
ajfa-4025	254	3	,	,	PUNCT
ajfa-4025	254	4	exchange	exchange	NOUN
ajfa-4025	254	5	rates	rate	NOUN
ajfa-4025	254	6	,	,	PUNCT
ajfa-4025	254	7	and	and	CCONJ
ajfa-4025	254	8	oil	oil	NOUN
ajfa-4025	254	9	:	:	PUNCT
ajfa-4025	254	10	evidence	evidence	NOUN
ajfa-4025	254	11	from	from	ADP
ajfa-4025	254	12	middle	middle	PROPN
ajfa-4025	254	13	east	east	PROPN
ajfa-4025	254	14	oil	oil	NOUN
ajfa-4025	254	15	-	-	PUNCT
ajfa-4025	254	16	exporting	export	VERB
ajfa-4025	254	17	countries	country	NOUN
ajfa-4025	254	18	.	.	PUNCT
ajfa-4025	255	1	topics	topic	NOUN
ajfa-4025	255	2	in	in	ADP
ajfa-4025	255	3	middle	middle	ADJ
ajfa-4025	255	4	eastern	eastern	ADJ
ajfa-4025	255	5	and	and	CCONJ
ajfa-4025	255	6	north	north	ADJ
ajfa-4025	255	7	african	african	ADJ
ajfa-4025	255	8	economies	economy	NOUN
ajfa-4025	255	9	electronic	electronic	ADJ
ajfa-4025	255	10	journal	journal	NOUN
ajfa-4025	255	11	,	,	PUNCT
ajfa-4025	255	12	10	10	NUM
ajfa-4025	255	13	,	,	PUNCT
ajfa-4025	255	14	available	available	ADJ
ajfa-4025	255	15	at	at	ADP
ajfa-4025	255	16	:	:	PUNCT
ajfa-4025	255	17	http://www.luc.edu/orgs/meea/	http://www.luc.edu/orgs/meea/	PROPN
ajfa-4025	255	18	al	al	PROPN
ajfa-4025	255	19	-	-	PROPN
ajfa-4025	255	20	fayoumi	fayoumi	PROPN
ajfa-4025	255	21	,	,	PUNCT
ajfa-4025	255	22	n.	n.	PROPN
ajfa-4025	255	23	a.	a.	PROPN
ajfa-4025	255	24	(	(	PUNCT
ajfa-4025	255	25	2009	2009	NUM
ajfa-4025	255	26	)	)	PUNCT
ajfa-4025	255	27	.	.	PUNCT
ajfa-4025	256	1	oil	oil	NOUN
ajfa-4025	256	2	prices	price	NOUN
ajfa-4025	256	3	and	and	CCONJ
ajfa-4025	256	4	stock	stock	NOUN
ajfa-4025	256	5	market	market	NOUN
ajfa-4025	256	6	returns	return	NOUN
ajfa-4025	256	7	in	in	ADP
ajfa-4025	256	8	oil	oil	NOUN
ajfa-4025	256	9	importing	import	VERB
ajfa-4025	256	10	countries	country	NOUN
ajfa-4025	256	11	:	:	PUNCT
ajfa-4025	256	12	the	the	DET
ajfa-4025	256	13	case	case	NOUN
ajfa-4025	256	14	turkey	turkey	NOUN
ajfa-4025	256	15	,	,	PUNCT
ajfa-4025	256	16	tunisia	tunisia	PROPN
ajfa-4025	256	17	and	and	CCONJ
ajfa-4025	256	18	jordan	jordan	PROPN
ajfa-4025	256	19	.	.	PUNCT
ajfa-4025	257	1	european	european	PROPN
ajfa-4025	257	2	journal	journal	PROPN
ajfa-4025	257	3	of	of	ADP
ajfa-4025	257	4	economics	economic	NOUN
ajfa-4025	257	5	,	,	PUNCT
ajfa-4025	257	6	finance	finance	NOUN
ajfa-4025	257	7	and	and	CCONJ
ajfa-4025	257	8	administrative	administrative	ADJ
ajfa-4025	257	9	sciences	science	NOUN
ajfa-4025	257	10	,	,	PUNCT
ajfa-4025	257	11	16	16	NUM
ajfa-4025	257	12	,	,	PUNCT
ajfa-4025	257	13	86	86	NUM
ajfa-4025	257	14	-	-	SYM
ajfa-4025	257	15	101	101	NUM
ajfa-4025	257	16	.	.	PUNCT
ajfa-4025	258	1	bailey	bailey	PROPN
ajfa-4025	258	2	,	,	PUNCT
ajfa-4025	258	3	w.	w.	PROPN
ajfa-4025	258	4	,	,	PUNCT
ajfa-4025	258	5	&	&	CCONJ
ajfa-4025	258	6	chung	chung	PROPN
ajfa-4025	258	7	p.	p.	PROPN
ajfa-4025	258	8	(	(	PUNCT
ajfa-4025	258	9	1996	1996	NUM
ajfa-4025	258	10	)	)	PUNCT
ajfa-4025	258	11	.	.	PUNCT
ajfa-4025	259	1	risk	risk	NOUN
ajfa-4025	259	2	and	and	CCONJ
ajfa-4025	259	3	return	return	VERB
ajfa-4025	259	4	in	in	ADP
ajfa-4025	259	5	the	the	DET
ajfa-4025	259	6	philippine	philippine	ADJ
ajfa-4025	259	7	equity	equity	NOUN
ajfa-4025	259	8	market	market	NOUN
ajfa-4025	259	9	:	:	PUNCT
ajfa-4025	259	10	a	a	DET
ajfa-4025	259	11	multifactor	multifactor	NOUN
ajfa-4025	259	12	exploration	exploration	NOUN
ajfa-4025	259	13	.	.	PUNCT
ajfa-4025	260	1	pacific	pacific	ADJ
ajfa-4025	260	2	-	-	PUNCT
ajfa-4025	260	3	basin	basin	NOUN
ajfa-4025	260	4	finance	finance	NOUN
ajfa-4025	260	5	journal	journal	NOUN
ajfa-4025	260	6	,	,	PUNCT
ajfa-4025	260	7	4	4	NUM
ajfa-4025	260	8	,	,	PUNCT
ajfa-4025	260	9	197	197	NUM
ajfa-4025	260	10	-	-	SYM
ajfa-4025	260	11	218	218	NUM
ajfa-4025	260	12	.	.	PUNCT
ajfa-4025	261	1	http://dx.doi.org/10.1016/0927-538x(96)00011-x	http://dx.doi.org/10.1016/0927-538x(96)00011-x	PROPN
ajfa-4025	261	2	ball	ball	PROPN
ajfa-4025	261	3	,	,	PUNCT
ajfa-4025	261	4	r.	r.	PROPN
ajfa-4025	261	5	(	(	PUNCT
ajfa-4025	261	6	1978	1978	NUM
ajfa-4025	261	7	)	)	PUNCT
ajfa-4025	261	8	.	.	PUNCT
ajfa-4025	262	1	anomalies	anomaly	NOUN
ajfa-4025	262	2	in	in	ADP
ajfa-4025	262	3	relationships	relationship	NOUN
ajfa-4025	262	4	between	between	ADP
ajfa-4025	262	5	securities	security	NOUN
ajfa-4025	262	6	'	'	PART
ajfa-4025	262	7	yields	yield	NOUN
ajfa-4025	262	8	and	and	CCONJ
ajfa-4025	262	9	yield	yield	NOUN
ajfa-4025	262	10	surrogates	surrogate	NOUN
ajfa-4025	262	11	.	.	PUNCT
ajfa-4025	263	1	journal	journal	NOUN
ajfa-4025	263	2	of	of	ADP
ajfa-4025	263	3	financial	financial	ADJ
ajfa-4025	263	4	economics	economic	NOUN
ajfa-4025	263	5	,	,	PUNCT
ajfa-4025	263	6	6	6	NUM
ajfa-4025	263	7	,	,	PUNCT
ajfa-4025	263	8	103	103	NUM
ajfa-4025	263	9	-	-	SYM
ajfa-4025	263	10	126	126	NUM
ajfa-4025	263	11	.	.	PUNCT
ajfa-4025	264	1	http://dx.doi.org/10.1016/0304-405x(78)90026-0	http://dx.doi.org/10.1016/0304-405x(78)90026-0	AUX
ajfa-4025	264	2	banz	banz	VERB
ajfa-4025	264	3	,	,	PUNCT
ajfa-4025	264	4	r.w	r.w	PROPN
ajfa-4025	264	5	.	.	PROPN
ajfa-4025	264	6	(	(	PUNCT
ajfa-4025	264	7	1981	1981	NUM
ajfa-4025	264	8	)	)	PUNCT
ajfa-4025	264	9	.	.	PUNCT
ajfa-4025	265	1	the	the	DET
ajfa-4025	265	2	relationship	relationship	NOUN
ajfa-4025	265	3	between	between	ADP
ajfa-4025	265	4	return	return	NOUN
ajfa-4025	265	5	and	and	CCONJ
ajfa-4025	265	6	market	market	NOUN
ajfa-4025	265	7	value	value	NOUN
ajfa-4025	265	8	of	of	ADP
ajfa-4025	265	9	common	common	ADJ
ajfa-4025	265	10	stocks	stock	NOUN
ajfa-4025	265	11	.	.	PUNCT
ajfa-4025	266	1	journal	journal	NOUN
ajfa-4025	266	2	of	of	ADP
ajfa-4025	266	3	financial	financial	ADJ
ajfa-4025	266	4	economics	economic	NOUN
ajfa-4025	266	5	,	,	PUNCT
ajfa-4025	266	6	9	9	NUM
ajfa-4025	266	7	,	,	PUNCT
ajfa-4025	266	8	3	3	NUM
ajfa-4025	266	9	-	-	SYM
ajfa-4025	266	10	18	18	NUM
ajfa-4025	266	11	.	.	PUNCT
ajfa-4025	267	1	http://dx.doi.org/10.1016/0304-405x(81)90018-0	http://dx.doi.org/10.1016/0304-405x(81)90018-0	PROPN
ajfa-4025	267	2	barber	barber	PROPN
ajfa-4025	267	3	,	,	PUNCT
ajfa-4025	267	4	b.	b.	PROPN
ajfa-4025	267	5	m.	m.	PROPN
ajfa-4025	267	6	,	,	PUNCT
ajfa-4025	267	7	&	&	CCONJ
ajfa-4025	267	8	lyon	lyon	PROPN
ajfa-4025	267	9	,	,	PUNCT
ajfa-4025	267	10	j.	j.	PROPN
ajfa-4025	267	11	d.	d.	PROPN
ajfa-4025	267	12	(	(	PUNCT
ajfa-4025	267	13	1997	1997	NUM
ajfa-4025	267	14	)	)	PUNCT
ajfa-4025	267	15	.	.	PUNCT
ajfa-4025	268	1	firm	firm	ADJ
ajfa-4025	268	2	size	size	NOUN
ajfa-4025	268	3	,	,	PUNCT
ajfa-4025	268	4	book	book	NOUN
ajfa-4025	268	5	-	-	PUNCT
ajfa-4025	268	6	to	to	ADP
ajfa-4025	268	7	-	-	PUNCT
ajfa-4025	268	8	market	market	NOUN
ajfa-4025	268	9	ratio	ratio	NOUN
ajfa-4025	268	10	,	,	PUNCT
ajfa-4025	268	11	and	and	CCONJ
ajfa-4025	268	12	security	security	NOUN
ajfa-4025	268	13	returns	return	NOUN
ajfa-4025	268	14	:	:	PUNCT
ajfa-4025	268	15	a	a	DET
ajfa-4025	268	16	holdout	holdout	NOUN
ajfa-4025	268	17	sample	sample	NOUN
ajfa-4025	268	18	of	of	ADP
ajfa-4025	268	19	financial	financial	ADJ
ajfa-4025	268	20	firms	firm	NOUN
ajfa-4025	268	21	.	.	PUNCT
ajfa-4025	269	1	journal	journal	PROPN
ajfa-4025	269	2	of	of	ADP
ajfa-4025	269	3	finance	finance	NOUN
ajfa-4025	269	4	,	,	PUNCT
ajfa-4025	269	5	52	52	NUM
ajfa-4025	269	6	,	,	PUNCT
ajfa-4025	269	7	875	875	NUM
ajfa-4025	269	8	-	-	SYM
ajfa-4025	269	9	884	884	NUM
ajfa-4025	269	10	.	.	PUNCT
ajfa-4025	270	1	http://dx.doi.org/10.1111/j.1540-6261.1997.tb04826.x	http://dx.doi.org/10.1111/j.1540-6261.1997.tb04826.x	PROPN
ajfa-4025	270	2	basu	basu	PROPN
ajfa-4025	270	3	,	,	PUNCT
ajfa-4025	270	4	s.	s.	PROPN
ajfa-4025	270	5	(	(	PUNCT
ajfa-4025	270	6	1983	1983	NUM
ajfa-4025	270	7	)	)	PUNCT
ajfa-4025	270	8	.	.	PUNCT
ajfa-4025	271	1	the	the	DET
ajfa-4025	271	2	relationship	relationship	NOUN
ajfa-4025	271	3	between	between	ADP
ajfa-4025	271	4	earnings	earning	NOUN
ajfa-4025	271	5	yield	yield	NOUN
ajfa-4025	271	6	,	,	PUNCT
ajfa-4025	271	7	market	market	NOUN
ajfa-4025	271	8	value	value	NOUN
ajfa-4025	271	9	and	and	CCONJ
ajfa-4025	271	10	return	return	VERB
ajfa-4025	271	11	for	for	ADP
ajfa-4025	271	12	nyse	nyse	PROPN
ajfa-4025	271	13	common	common	ADJ
ajfa-4025	271	14	stocks	stock	NOUN
ajfa-4025	271	15	:	:	PUNCT
ajfa-4025	271	16	further	further	ADJ
ajfa-4025	271	17	evidence	evidence	NOUN
ajfa-4025	271	18	.	.	PUNCT
ajfa-4025	272	1	journal	journal	NOUN
ajfa-4025	272	2	of	of	ADP
ajfa-4025	272	3	financial	financial	ADJ
ajfa-4025	272	4	economics	economic	NOUN
ajfa-4025	272	5	,	,	PUNCT
ajfa-4025	272	6	12	12	NUM
ajfa-4025	272	7	,	,	PUNCT
ajfa-4025	272	8	129	129	NUM
ajfa-4025	272	9	-	-	SYM
ajfa-4025	272	10	156	156	NUM
ajfa-4025	272	11	.	.	PUNCT
ajfa-4025	273	1	http://dx.doi.org/10.1016/0304-405x(83)90031-4	http://dx.doi.org/10.1016/0304-405x(83)90031-4	NOUN
ajfa-4025	273	2	bhandari	bhandari	PROPN
ajfa-4025	273	3	,	,	PUNCT
ajfa-4025	273	4	l.	l.	PROPN
ajfa-4025	273	5	c.	c.	PROPN
ajfa-4025	273	6	(	(	PUNCT
ajfa-4025	273	7	1988	1988	NUM
ajfa-4025	273	8	)	)	PUNCT
ajfa-4025	273	9	.	.	PUNCT
ajfa-4025	274	1	debt	debt	NOUN
ajfa-4025	274	2	/	/	SYM
ajfa-4025	274	3	equity	equity	NOUN
ajfa-4025	274	4	ratio	ratio	NOUN
ajfa-4025	274	5	and	and	CCONJ
ajfa-4025	274	6	expected	expect	VERB
ajfa-4025	274	7	common	common	ADJ
ajfa-4025	274	8	stock	stock	NOUN
ajfa-4025	274	9	returns	return	NOUN
ajfa-4025	274	10	:	:	PUNCT
ajfa-4025	274	11	empirical	empirical	ADJ
ajfa-4025	274	12	evidence	evidence	NOUN
ajfa-4025	274	13	.	.	PUNCT
ajfa-4025	275	1	journal	journal	NOUN
ajfa-4025	275	2	of	of	ADP
ajfa-4025	275	3	finance	finance	NOUN
ajfa-4025	275	4	,	,	PUNCT
ajfa-4025	275	5	43	43	NUM
ajfa-4025	275	6	,	,	PUNCT
ajfa-4025	275	7	507	507	NUM
ajfa-4025	275	8	-	-	SYM
ajfa-4025	275	9	28	28	NUM
ajfa-4025	275	10	.	.	PUNCT
ajfa-4025	276	1	http://dx.doi.org/10.1111/j.1540-6261.1988.tb03952.x	http://dx.doi.org/10.1111/j.1540-6261.1988.tb03952.x	PROPN
ajfa-4025	276	2	black	black	PROPN
ajfa-4025	276	3	,	,	PUNCT
ajfa-4025	276	4	f.	f.	PROPN
ajfa-4025	276	5	,	,	PUNCT
ajfa-4025	276	6	jensen	jensen	PROPN
ajfa-4025	276	7	,	,	PUNCT
ajfa-4025	276	8	m.	m.	PROPN
ajfa-4025	276	9	c.	c.	PROPN
ajfa-4025	276	10	,	,	PUNCT
ajfa-4025	276	11	&	&	CCONJ
ajfa-4025	276	12	scholes	scholes	PROPN
ajfa-4025	276	13	,	,	PUNCT
ajfa-4025	276	14	m.	m.	NOUN
ajfa-4025	276	15	(	(	PUNCT
ajfa-4025	276	16	1972	1972	NUM
ajfa-4025	276	17	)	)	PUNCT
ajfa-4025	276	18	.	.	PUNCT
ajfa-4025	277	1	the	the	DET
ajfa-4025	277	2	capital	capital	NOUN
ajfa-4025	277	3	asset	asset	NOUN
ajfa-4025	277	4	pricing	pricing	NOUN
ajfa-4025	277	5	model	model	NOUN
ajfa-4025	277	6	:	:	PUNCT
ajfa-4025	277	7	some	some	DET
ajfa-4025	277	8	empirical	empirical	ADJ
ajfa-4025	277	9	tests	test	NOUN
ajfa-4025	277	10	.	.	PUNCT
ajfa-4025	278	1	in	in	ADP
ajfa-4025	278	2	m.	m.	PROPN
ajfa-4025	278	3	jensen	jensen	PROPN
ajfa-4025	278	4	(	(	PUNCT
ajfa-4025	278	5	eds	eds	PROPN
ajfa-4025	278	6	.	.	PUNCT
ajfa-4025	278	7	)	)	PUNCT
ajfa-4025	278	8	,	,	PUNCT
ajfa-4025	278	9	studies	study	NOUN
ajfa-4025	278	10	in	in	ADP
ajfa-4025	278	11	the	the	DET
ajfa-4025	278	12	theory	theory	NOUN
ajfa-4025	278	13	of	of	ADP
ajfa-4025	278	14	capital	capital	NOUN
ajfa-4025	278	15	markets	market	NOUN
ajfa-4025	278	16	(	(	PUNCT
ajfa-4025	278	17	praeger	praeger	NOUN
ajfa-4025	278	18	publishers	publisher	NOUN
ajfa-4025	278	19	,	,	PUNCT
ajfa-4025	278	20	new	new	PROPN
ajfa-4025	278	21	york	york	PROPN
ajfa-4025	278	22	)	)	PUNCT
ajfa-4025	278	23	.	.	PUNCT
ajfa-4025	279	1	brown	brown	PROPN
ajfa-4025	279	2	,	,	PUNCT
ajfa-4025	279	3	p.	p.	PROPN
ajfa-4025	279	4	,	,	PUNCT
ajfa-4025	279	5	kleidon	kleidon	PROPN
ajfa-4025	279	6	,	,	PUNCT
ajfa-4025	279	7	a.	a.	NOUN
ajfa-4025	279	8	,	,	PUNCT
ajfa-4025	279	9	&	&	CCONJ
ajfa-4025	279	10	marsh	marsh	PROPN
ajfa-4025	279	11	,	,	PUNCT
ajfa-4025	279	12	t.	t.	PROPN
ajfa-4025	279	13	(	(	PUNCT
ajfa-4025	279	14	1983	1983	NUM
ajfa-4025	279	15	)	)	PUNCT
ajfa-4025	279	16	.	.	PUNCT
ajfa-4025	280	1	new	new	ADJ
ajfa-4025	280	2	evidence	evidence	NOUN
ajfa-4025	280	3	on	on	ADP
ajfa-4025	280	4	nature	nature	NOUN
ajfa-4025	280	5	of	of	ADP
ajfa-4025	280	6	size	size	NOUN
ajfa-4025	280	7	-	-	PUNCT
ajfa-4025	280	8	related	relate	VERB
ajfa-4025	280	9	anomalies	anomaly	NOUN
ajfa-4025	280	10	in	in	ADP
ajfa-4025	280	11	stock	stock	NOUN
ajfa-4025	280	12	prices	price	NOUN
ajfa-4025	280	13	.	.	PUNCT
ajfa-4025	281	1	journal	journal	NOUN
ajfa-4025	281	2	of	of	ADP
ajfa-4025	281	3	financial	financial	ADJ
ajfa-4025	281	4	economies	economy	NOUN
ajfa-4025	281	5	,	,	PUNCT
ajfa-4025	281	6	12	12	NUM
ajfa-4025	281	7	,	,	PUNCT
ajfa-4025	281	8	33	33	NUM
ajfa-4025	281	9	-	-	SYM
ajfa-4025	281	10	56	56	NUM
ajfa-4025	281	11	.	.	PUNCT
ajfa-4025	282	1	http://dx.doi.org/10.1016/0304-405x(83)90026-0	http://dx.doi.org/10.1016/0304-405x(83)90026-0	ADJ
ajfa-4025	282	2	asian	asian	ADJ
ajfa-4025	282	3	journal	journal	NOUN
ajfa-4025	282	4	of	of	ADP
ajfa-4025	282	5	finance	finance	PROPN
ajfa-4025	282	6	&	&	CCONJ
ajfa-4025	282	7	accounting	accounting	PROPN
ajfa-4025	282	8	issn	issn	PROPN
ajfa-4025	282	9	1946	1946	NUM
ajfa-4025	282	10	-	-	PUNCT
ajfa-4025	282	11	052x	052x	NOUN
ajfa-4025	282	12	2013	2013	NUM
ajfa-4025	282	13	,	,	PUNCT
ajfa-4025	282	14	vol	vol	NOUN
ajfa-4025	282	15	.	.	PROPN
ajfa-4025	282	16	5	5	NUM
ajfa-4025	282	17	,	,	PUNCT
ajfa-4025	282	18	no	no	INTJ
ajfa-4025	282	19	.	.	NOUN
ajfa-4025	282	20	2	2	NUM
ajfa-4025	282	21	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	282	22	178	178	NUM
ajfa-4025	282	23	chamberlain	chamberlain	NOUN
ajfa-4025	282	24	,	,	PUNCT
ajfa-4025	282	25	g.	g.	PROPN
ajfa-4025	282	26	,	,	PUNCT
ajfa-4025	282	27	&	&	CCONJ
ajfa-4025	282	28	rothschild	rothschild	PROPN
ajfa-4025	282	29	,	,	PUNCT
ajfa-4025	282	30	m.	m.	NOUN
ajfa-4025	282	31	(	(	PUNCT
ajfa-4025	282	32	1983	1983	NUM
ajfa-4025	282	33	)	)	PUNCT
ajfa-4025	282	34	.	.	PUNCT
ajfa-4025	283	1	arbitrage	arbitrage	NOUN
ajfa-4025	283	2	,	,	PUNCT
ajfa-4025	283	3	factor	factor	NOUN
ajfa-4025	283	4	structure	structure	NOUN
ajfa-4025	283	5	,	,	PUNCT
ajfa-4025	283	6	and	and	CCONJ
ajfa-4025	283	7	mean	mean	ADJ
ajfa-4025	283	8	-	-	PUNCT
ajfa-4025	283	9	variance	variance	NOUN
ajfa-4025	283	10	analysis	analysis	NOUN
ajfa-4025	283	11	on	on	ADP
ajfa-4025	283	12	large	large	ADJ
ajfa-4025	283	13	asset	asset	NOUN
ajfa-4025	283	14	markets	market	NOUN
ajfa-4025	283	15	.	.	PUNCT
ajfa-4025	284	1	econometrica	econometrica	PROPN
ajfa-4025	284	2	,	,	PUNCT
ajfa-4025	284	3	51	51	NUM
ajfa-4025	284	4	,	,	PUNCT
ajfa-4025	284	5	1281	1281	NUM
ajfa-4025	284	6	-	-	SYM
ajfa-4025	284	7	1304	1304	NUM
ajfa-4025	284	8	.	.	PUNCT
ajfa-4025	285	1	http://dx.doi.org/10.2307/1912275	http://dx.doi.org/10.2307/1912275	PROPN
ajfa-4025	285	2	chan	chan	PROPN
ajfa-4025	285	3	,	,	PUNCT
ajfa-4025	285	4	k.	k.	PROPN
ajfa-4025	285	5	c.	c.	PROPN
ajfa-4025	285	6	,	,	PUNCT
ajfa-4025	285	7	gup	gup	PROPN
ajfa-4025	285	8	,	,	PUNCT
ajfa-4025	285	9	b.	b.	PROPN
ajfa-4025	285	10	e.	e.	PROPN
ajfa-4025	285	11	,	,	PUNCT
ajfa-4025	285	12	&	&	CCONJ
ajfa-4025	285	13	pan	pan	PROPN
ajfa-4025	285	14	,	,	PUNCT
ajfa-4025	285	15	m.	m.	NOUN
ajfa-4025	285	16	s.	s.	PROPN
ajfa-4025	285	17	(	(	PUNCT
ajfa-4025	285	18	1992	1992	NUM
ajfa-4025	285	19	)	)	PUNCT
ajfa-4025	285	20	.	.	PUNCT
ajfa-4025	286	1	an	an	DET
ajfa-4025	286	2	empirical	empirical	ADJ
ajfa-4025	286	3	analysis	analysis	NOUN
ajfa-4025	286	4	and	and	CCONJ
ajfa-4025	286	5	stock	stock	NOUN
ajfa-4025	286	6	prices	price	NOUN
ajfa-4025	286	7	in	in	ADP
ajfa-4025	286	8	major	major	ADJ
ajfa-4025	286	9	asian	asian	ADJ
ajfa-4025	286	10	markets	market	NOUN
ajfa-4025	286	11	and	and	CCONJ
ajfa-4025	286	12	the	the	DET
ajfa-4025	286	13	united	united	PROPN
ajfa-4025	286	14	states	states	PROPN
ajfa-4025	286	15	.	.	PUNCT
ajfa-4025	287	1	the	the	DET
ajfa-4025	287	2	financial	financial	PROPN
ajfa-4025	287	3	review	review	NOUN
ajfa-4025	287	4	,	,	PUNCT
ajfa-4025	287	5	27(2	27(2	PRON
ajfa-4025	287	6	)	)	PUNCT
ajfa-4025	287	7	,	,	PUNCT
ajfa-4025	287	8	239	239	NUM
ajfa-4025	287	9	-301	-301	PROPN
ajfa-4025	287	10	.	.	PUNCT
ajfa-4025	287	11	http://dx.doi.org/10.1111/j.1540-6288.1992.tb01319.x	http://dx.doi.org/10.1111/j.1540-6288.1992.tb01319.x	PROPN
ajfa-4025	287	12	chan	chan	PROPN
ajfa-4025	287	13	,	,	PUNCT
ajfa-4025	287	14	k.c	k.c	PROPN
ajfa-4025	287	15	,	,	PUNCT
ajfa-4025	287	16	chen	chen	PROPN
ajfa-4025	287	17	,	,	PUNCT
ajfa-4025	287	18	n.	n.	PROPN
ajfa-4025	287	19	,	,	PUNCT
ajfa-4025	287	20	&	&	CCONJ
ajfa-4025	287	21	hsieh	hsieh	PROPN
ajfa-4025	287	22	d.a	d.a	PROPN
ajfa-4025	287	23	.	.	PUNCT
ajfa-4025	287	24	(	(	PUNCT
ajfa-4025	287	25	1985	1985	NUM
ajfa-4025	287	26	)	)	PUNCT
ajfa-4025	287	27	.	.	PUNCT
ajfa-4025	288	1	an	an	DET
ajfa-4025	288	2	explanatory	explanatory	ADJ
ajfa-4025	288	3	investigation	investigation	NOUN
ajfa-4025	288	4	of	of	ADP
ajfa-4025	288	5	the	the	DET
ajfa-4025	288	6	firm	firm	ADJ
ajfa-4025	288	7	size	size	NOUN
ajfa-4025	288	8	effect	effect	NOUN
ajfa-4025	288	9	.	.	PUNCT
ajfa-4025	289	1	journal	journal	NOUN
ajfa-4025	289	2	of	of	ADP
ajfa-4025	289	3	financial	financial	ADJ
ajfa-4025	289	4	econometrics	econometric	NOUN
ajfa-4025	289	5	,	,	PUNCT
ajfa-4025	289	6	14	14	NUM
ajfa-4025	289	7	,	,	PUNCT
ajfa-4025	289	8	451	451	NUM
ajfa-4025	289	9	-	-	SYM
ajfa-4025	289	10	471	471	NUM
ajfa-4025	289	11	.	.	PUNCT
ajfa-4025	289	12	http://dx.doi.org/10.1016/0304-405x(85)90008-x	http://dx.doi.org/10.1016/0304-405x(85)90008-x	PROPN
ajfa-4025	289	13	chan	chan	PROPN
ajfa-4025	289	14	,	,	PUNCT
ajfa-4025	289	15	l.	l.	PROPN
ajfa-4025	289	16	,	,	PUNCT
ajfa-4025	289	17	hamao	hamao	PROPN
ajfa-4025	289	18	,	,	PUNCT
ajfa-4025	289	19	y.	y.	PROPN
ajfa-4025	289	20	,	,	PUNCT
ajfa-4025	289	21	&	&	CCONJ
ajfa-4025	289	22	lakonishok	lakonishok	PROPN
ajfa-4025	289	23	,	,	PUNCT
ajfa-4025	289	24	j.	j.	PROPN
ajfa-4025	289	25	(	(	PUNCT
ajfa-4025	289	26	1991	1991	NUM
ajfa-4025	289	27	)	)	PUNCT
ajfa-4025	289	28	.	.	PUNCT
ajfa-4025	290	1	fundamentals	fundamental	NOUN
ajfa-4025	290	2	and	and	CCONJ
ajfa-4025	290	3	stock	stock	NOUN
ajfa-4025	290	4	returns	return	NOUN
ajfa-4025	290	5	in	in	ADP
ajfa-4025	290	6	japan	japan	PROPN
ajfa-4025	290	7	.	.	PUNCT
ajfa-4025	291	1	journal	journal	PROPN
ajfa-4025	291	2	of	of	ADP
ajfa-4025	291	3	finance	finance	NOUN
ajfa-4025	291	4	,	,	PUNCT
ajfa-4025	291	5	46	46	NUM
ajfa-4025	291	6	,	,	PUNCT
ajfa-4025	291	7	1739–64	1739–64	NUM
ajfa-4025	291	8	.	.	PUNCT
ajfa-4025	292	1	http://dx.doi.org/10.1111/j.1540-6261.1991.tb04642.x	http://dx.doi.org/10.1111/j.1540-6261.1991.tb04642.x	PROPN
ajfa-4025	292	2	charitou	charitou	PROPN
ajfa-4025	292	3	,	,	PUNCT
ajfa-4025	292	4	a.	a.	PROPN
ajfa-4025	292	5	,	,	PUNCT
ajfa-4025	292	6	&	&	CCONJ
ajfa-4025	292	7	constantinidis	constantinidis	PROPN
ajfa-4025	292	8	,	,	PUNCT
ajfa-4025	292	9	e.	e.	PROPN
ajfa-4025	292	10	(	(	PUNCT
ajfa-4025	292	11	2004	2004	NUM
ajfa-4025	292	12	)	)	PUNCT
ajfa-4025	292	13	.	.	PUNCT
ajfa-4025	293	1	size	size	NOUN
ajfa-4025	293	2	and	and	CCONJ
ajfa-4025	293	3	book	book	NOUN
ajfa-4025	293	4	-	-	PUNCT
ajfa-4025	293	5	to	to	ADP
ajfa-4025	293	6	-	-	PUNCT
ajfa-4025	293	7	market	market	NOUN
ajfa-4025	293	8	factors	factor	NOUN
ajfa-4025	293	9	in	in	ADP
ajfa-4025	293	10	earnings	earning	NOUN
ajfa-4025	293	11	and	and	CCONJ
ajfa-4025	293	12	stock	stock	NOUN
ajfa-4025	293	13	returns	return	NOUN
ajfa-4025	293	14	:	:	PUNCT
ajfa-4025	293	15	empirical	empirical	ADJ
ajfa-4025	293	16	evidence	evidence	NOUN
ajfa-4025	293	17	for	for	ADP
ajfa-4025	293	18	japan	japan	PROPN
ajfa-4025	293	19	,	,	PUNCT
ajfa-4025	293	20	illinois	illinois	PROPN
ajfa-4025	293	21	international	international	PROPN
ajfa-4025	293	22	accounting	accounting	NOUN
ajfa-4025	293	23	summer	summer	NOUN
ajfa-4025	293	24	conferences	conference	NOUN
ajfa-4025	293	25	working	work	VERB
ajfa-4025	293	26	paper	paper	NOUN
ajfa-4025	293	27	.	.	PUNCT
ajfa-4025	294	1	chen	chen	PROPN
ajfa-4025	294	2	,	,	PUNCT
ajfa-4025	294	3	m.	m.	PROPN
ajfa-4025	294	4	h.	h.	PROPN
ajfa-4025	294	5	,	,	PUNCT
ajfa-4025	294	6	kim	kim	PROPN
ajfa-4025	294	7	,	,	PUNCT
ajfa-4025	294	8	w.	w.	PROPN
ajfa-4025	294	9	g.	g.	PROPN
ajfa-4025	294	10	,	,	PUNCT
ajfa-4025	294	11	&	&	CCONJ
ajfa-4025	294	12	kim	kim	PROPN
ajfa-4025	294	13	,	,	PUNCT
ajfa-4025	294	14	h.	h.	PROPN
ajfa-4025	294	15	j.	j.	PROPN
ajfa-4025	294	16	(	(	PUNCT
ajfa-4025	294	17	2005	2005	NUM
ajfa-4025	294	18	)	)	PUNCT
ajfa-4025	294	19	.	.	PUNCT
ajfa-4025	295	1	the	the	DET
ajfa-4025	295	2	impact	impact	NOUN
ajfa-4025	295	3	of	of	ADP
ajfa-4025	295	4	macroeconomic	macroeconomic	ADJ
ajfa-4025	295	5	and	and	CCONJ
ajfa-4025	295	6	nonmacroeconomic	nonmacroeconomic	ADJ
ajfa-4025	295	7	forces	force	NOUN
ajfa-4025	295	8	on	on	ADP
ajfa-4025	295	9	hotel	hotel	NOUN
ajfa-4025	295	10	stock	stock	NOUN
ajfa-4025	295	11	returns	return	NOUN
ajfa-4025	295	12	.	.	PUNCT
ajfa-4025	296	1	international	international	ADJ
ajfa-4025	296	2	journal	journal	PROPN
ajfa-4025	296	3	of	of	ADP
ajfa-4025	296	4	hospitality	hospitality	PROPN
ajfa-4025	296	5	management	management	NOUN
ajfa-4025	296	6	,	,	PUNCT
ajfa-4025	296	7	24	24	NUM
ajfa-4025	296	8	,	,	PUNCT
ajfa-4025	296	9	243	243	NUM
ajfa-4025	296	10	-	-	SYM
ajfa-4025	296	11	258	258	NUM
ajfa-4025	296	12	.	.	PUNCT
ajfa-4025	297	1	http://dx.doi.org/10.1016/j.ijhm.2004.06.008	http://dx.doi.org/10.1016/j.ijhm.2004.06.008	PROPN
ajfa-4025	297	2	chen	chen	PROPN
ajfa-4025	297	3	,	,	PUNCT
ajfa-4025	297	4	n.	n.	NOUN
ajfa-4025	297	5	,	,	PUNCT
ajfa-4025	297	6	roll	roll	NOUN
ajfa-4025	297	7	,	,	PUNCT
ajfa-4025	297	8	r.	r.	PROPN
ajfa-4025	297	9	,	,	PUNCT
ajfa-4025	297	10	&	&	CCONJ
ajfa-4025	297	11	ross	ross	PROPN
ajfa-4025	297	12	,	,	PUNCT
ajfa-4025	297	13	s.	s.	PROPN
ajfa-4025	297	14	(	(	PUNCT
ajfa-4025	297	15	1986	1986	NUM
ajfa-4025	297	16	)	)	PUNCT
ajfa-4025	297	17	.	.	PUNCT
ajfa-4025	298	1	economic	economic	ADJ
ajfa-4025	298	2	forces	force	NOUN
ajfa-4025	298	3	and	and	CCONJ
ajfa-4025	298	4	the	the	DET
ajfa-4025	298	5	stock	stock	NOUN
ajfa-4025	298	6	market	market	NOUN
ajfa-4025	298	7	.	.	PUNCT
ajfa-4025	299	1	journal	journal	NOUN
ajfa-4025	299	2	of	of	ADP
ajfa-4025	299	3	business	business	NOUN
ajfa-4025	299	4	,	,	PUNCT
ajfa-4025	299	5	59	59	NUM
ajfa-4025	299	6	,	,	PUNCT
ajfa-4025	299	7	383	383	NUM
ajfa-4025	299	8	-	-	SYM
ajfa-4025	299	9	403	403	NUM
ajfa-4025	299	10	.	.	PUNCT
ajfa-4025	300	1	http://dx.doi.org/10.1086/296344	http://dx.doi.org/10.1086/296344	PROPN
ajfa-4025	300	2	cheng	cheng	PROPN
ajfa-4025	300	3	,	,	PUNCT
ajfa-4025	300	4	a.	a.	PROPN
ajfa-4025	300	5	c.	c.	PROPN
ajfa-4025	300	6	s.	s.	PROPN
ajfa-4025	300	7	(	(	PUNCT
ajfa-4025	300	8	1996	1996	NUM
ajfa-4025	300	9	)	)	PUNCT
ajfa-4025	300	10	.	.	PUNCT
ajfa-4025	301	1	the	the	DET
ajfa-4025	301	2	uk	uk	PROPN
ajfa-4025	301	3	stock	stock	NOUN
ajfa-4025	301	4	market	market	NOUN
ajfa-4025	301	5	and	and	CCONJ
ajfa-4025	301	6	economic	economic	ADJ
ajfa-4025	301	7	factors	factor	NOUN
ajfa-4025	301	8	:	:	PUNCT
ajfa-4025	301	9	a	a	DET
ajfa-4025	301	10	new	new	ADJ
ajfa-4025	301	11	approach	approach	NOUN
ajfa-4025	301	12	.	.	PUNCT
ajfa-4025	302	1	journal	journal	NOUN
ajfa-4025	302	2	of	of	ADP
ajfa-4025	302	3	business	business	NOUN
ajfa-4025	302	4	finance	finance	PROPN
ajfa-4025	302	5	&	&	CCONJ
ajfa-4025	302	6	accounting	accounting	PROPN
ajfa-4025	302	7	,	,	PUNCT
ajfa-4025	302	8	22(1	22(1	NUM
ajfa-4025	302	9	)	)	PUNCT
ajfa-4025	302	10	,	,	PUNCT
ajfa-4025	302	11	129–142	129–142	NUM
ajfa-4025	302	12	.	.	PUNCT
ajfa-4025	303	1	http://dx.doi.org/10.1111/j.1468-5957.1995.tb00675.x	http://dx.doi.org/10.1111/j.1468-5957.1995.tb00675.x	PROPN
ajfa-4025	303	2	cho	cho	PROPN
ajfa-4025	303	3	,	,	PUNCT
ajfa-4025	303	4	c.	c.	PROPN
ajfa-4025	303	5	d.	d.	PROPN
ajfa-4025	303	6	(	(	PUNCT
ajfa-4025	303	7	1984	1984	NUM
ajfa-4025	303	8	)	)	PUNCT
ajfa-4025	303	9	.	.	PUNCT
ajfa-4025	304	1	on	on	ADP
ajfa-4025	304	2	testing	test	VERB
ajfa-4025	304	3	the	the	DET
ajfa-4025	304	4	arbitrage	arbitrage	NOUN
ajfa-4025	304	5	pricing	pricing	NOUN
ajfa-4025	304	6	theory	theory	NOUN
ajfa-4025	304	7	:	:	PUNCT
ajfa-4025	304	8	inter	inter	ADJ
ajfa-4025	304	9	-	-	ADJ
ajfa-4025	304	10	battery	battery	NOUN
ajfa-4025	304	11	factor	factor	NOUN
ajfa-4025	304	12	analysis	analysis	NOUN
ajfa-4025	304	13	.	.	PUNCT
ajfa-4025	305	1	journal	journal	PROPN
ajfa-4025	305	2	of	of	ADP
ajfa-4025	305	3	finance	finance	NOUN
ajfa-4025	305	4	,	,	PUNCT
ajfa-4025	305	5	39(5	39(5	NUM
ajfa-4025	305	6	)	)	PUNCT
ajfa-4025	305	7	,	,	PUNCT
ajfa-4025	305	8	–	–	PUNCT
ajfa-4025	305	9	1502.http://dx.doi.org/10.1111/j.1540-6261.1984.tb04919.x	1502.http://dx.doi.org/10.1111/j.1540-6261.1984.tb04919.x	NUM
ajfa-4025	305	10	cho	cho	NOUN
ajfa-4025	305	11	,	,	PUNCT
ajfa-4025	305	12	c.	c.	PROPN
ajfa-4025	305	13	d.	d.	PROPN
ajfa-4025	305	14	,	,	PUNCT
ajfa-4025	305	15	eun	eun	PROPN
ajfa-4025	305	16	,	,	PUNCT
ajfa-4025	305	17	c.	c.	PROPN
ajfa-4025	305	18	s.	s.	PROPN
ajfa-4025	305	19	,	,	PUNCT
ajfa-4025	305	20	&	&	CCONJ
ajfa-4025	305	21	senbet	senbet	PROPN
ajfa-4025	305	22	,	,	PUNCT
ajfa-4025	305	23	l.	l.	PROPN
ajfa-4025	305	24	w.	w.	PROPN
ajfa-4025	305	25	(	(	PUNCT
ajfa-4025	305	26	1986	1986	NUM
ajfa-4025	305	27	)	)	PUNCT
ajfa-4025	305	28	.	.	PUNCT
ajfa-4025	306	1	international	international	ADJ
ajfa-4025	306	2	arbitrage	arbitrage	NOUN
ajfa-4025	306	3	pricing	pricing	NOUN
ajfa-4025	306	4	theory	theory	NOUN
ajfa-4025	306	5	:	:	PUNCT
ajfa-4025	306	6	an	an	DET
ajfa-4025	306	7	empirical	empirical	ADJ
ajfa-4025	306	8	investigation	investigation	NOUN
ajfa-4025	306	9	.	.	PUNCT
ajfa-4025	307	1	journal	journal	PROPN
ajfa-4025	307	2	of	of	ADP
ajfa-4025	307	3	finance	finance	NOUN
ajfa-4025	307	4	,	,	PUNCT
ajfa-4025	307	5	41	41	NUM
ajfa-4025	307	6	,	,	PUNCT
ajfa-4025	307	7	313–329	313–329	NUM
ajfa-4025	307	8	.	.	PUNCT
ajfa-4025	308	1	http://dx.doi.org/10.1111/j.1540-6261.1986.tb05038.x	http://dx.doi.org/10.1111/j.1540-6261.1986.tb05038.x	PROPN
ajfa-4025	308	2	connor	connor	PROPN
ajfa-4025	308	3	,	,	PUNCT
ajfa-4025	308	4	g.	g.	PROPN
ajfa-4025	308	5	,	,	PUNCT
ajfa-4025	308	6	&	&	CCONJ
ajfa-4025	308	7	korajczyk	korajczyk	PROPN
ajfa-4025	308	8	,	,	PUNCT
ajfa-4025	308	9	r.	r.	PROPN
ajfa-4025	308	10	(	(	PUNCT
ajfa-4025	308	11	1985	1985	NUM
ajfa-4025	308	12	)	)	PUNCT
ajfa-4025	308	13	.	.	PUNCT
ajfa-4025	309	1	risk	risk	NOUN
ajfa-4025	309	2	and	and	CCONJ
ajfa-4025	309	3	return	return	VERB
ajfa-4025	309	4	in	in	ADP
ajfa-4025	309	5	an	an	DET
ajfa-4025	309	6	equilibrium	equilibrium	NOUN
ajfa-4025	309	7	apt	apt	ADJ
ajfa-4025	309	8	:	:	PUNCT
ajfa-4025	309	9	theory	theory	NOUN
ajfa-4025	309	10	and	and	CCONJ
ajfa-4025	309	11	tests	test	NOUN
ajfa-4025	309	12	.	.	PUNCT
ajfa-4025	310	1	banking	banking	NOUN
ajfa-4025	310	2	research	research	NOUN
ajfa-4025	310	3	center	center	NOUN
ajfa-4025	310	4	working	work	VERB
ajfa-4025	310	5	paper	paper	NOUN
ajfa-4025	310	6	129	129	NUM
ajfa-4025	310	7	,	,	PUNCT
ajfa-4025	310	8	northwestern	northwestern	ADJ
ajfa-4025	310	9	university	university	NOUN
ajfa-4025	310	10	.	.	PUNCT
ajfa-4025	311	1	connor	connor	PROPN
ajfa-4025	311	2	,	,	PUNCT
ajfa-4025	311	3	g.	g.	PROPN
ajfa-4025	311	4	,	,	PUNCT
ajfa-4025	311	5	&	&	CCONJ
ajfa-4025	311	6	korajczyk	korajczyk	PROPN
ajfa-4025	311	7	,	,	PUNCT
ajfa-4025	311	8	r.	r.	PROPN
ajfa-4025	311	9	(	(	PUNCT
ajfa-4025	311	10	1986	1986	NUM
ajfa-4025	311	11	)	)	PUNCT
ajfa-4025	311	12	.	.	PUNCT
ajfa-4025	312	1	performance	performance	NOUN
ajfa-4025	312	2	measurement	measurement	NOUN
ajfa-4025	312	3	with	with	ADP
ajfa-4025	312	4	the	the	DET
ajfa-4025	312	5	arbitrage	arbitrage	NOUN
ajfa-4025	312	6	pricing	pricing	NOUN
ajfa-4025	312	7	theory	theory	NOUN
ajfa-4025	312	8	:	:	PUNCT
ajfa-4025	312	9	a	a	DET
ajfa-4025	312	10	new	new	ADJ
ajfa-4025	312	11	framework	framework	NOUN
ajfa-4025	312	12	for	for	ADP
ajfa-4025	312	13	analysis	analysis	NOUN
ajfa-4025	312	14	.	.	PUNCT
ajfa-4025	313	1	journal	journal	NOUN
ajfa-4025	313	2	of	of	ADP
ajfa-4025	313	3	financial	financial	ADJ
ajfa-4025	313	4	economics	economic	NOUN
ajfa-4025	313	5	,	,	PUNCT
ajfa-4025	313	6	15	15	NUM
ajfa-4025	313	7	,	,	PUNCT
ajfa-4025	313	8	373	373	NUM
ajfa-4025	313	9	-	-	SYM
ajfa-4025	313	10	394	394	NUM
ajfa-4025	313	11	.	.	PUNCT
ajfa-4025	314	1	http://dx.doi.org/10.1016/0304-405x(86)90027-9	http://dx.doi.org/10.1016/0304-405x(86)90027-9	NOUN
ajfa-4025	314	2	damodaran	damodaran	NOUN
ajfa-4025	314	3	,	,	PUNCT
ajfa-4025	314	4	a.	a.	NOUN
ajfa-4025	314	5	(	(	PUNCT
ajfa-4025	314	6	2004	2004	NUM
ajfa-4025	314	7	)	)	PUNCT
ajfa-4025	314	8	.	.	PUNCT
ajfa-4025	315	1	investment	investment	NOUN
ajfa-4025	315	2	fables	fable	NOUN
ajfa-4025	315	3	.	.	PUNCT
ajfa-4025	316	1	new	new	PROPN
ajfa-4025	316	2	york	york	PROPN
ajfa-4025	316	3	:	:	PUNCT
ajfa-4025	316	4	prentice	prentice	PROPN
ajfa-4025	316	5	hall	hall	PROPN
ajfa-4025	316	6	.	.	PUNCT
ajfa-4025	317	1	daniel	daniel	PROPN
ajfa-4025	317	2	,	,	PUNCT
ajfa-4025	317	3	k.	k.	PROPN
ajfa-4025	317	4	,	,	PUNCT
ajfa-4025	317	5	&	&	CCONJ
ajfa-4025	317	6	titman	titman	PROPN
ajfa-4025	317	7	,	,	PUNCT
ajfa-4025	317	8	s.	s.	PROPN
ajfa-4025	317	9	(	(	PUNCT
ajfa-4025	317	10	1997	1997	NUM
ajfa-4025	317	11	)	)	PUNCT
ajfa-4025	317	12	.	.	PUNCT
ajfa-4025	318	1	evidence	evidence	NOUN
ajfa-4025	318	2	on	on	ADP
ajfa-4025	318	3	the	the	DET
ajfa-4025	318	4	characteristics	characteristic	NOUN
ajfa-4025	318	5	of	of	ADP
ajfa-4025	318	6	cross	cross	ADJ
ajfa-4025	318	7	sectional	sectional	ADJ
ajfa-4025	318	8	variation	variation	NOUN
ajfa-4025	318	9	in	in	ADP
ajfa-4025	318	10	stock	stock	NOUN
ajfa-4025	318	11	returns	return	NOUN
ajfa-4025	318	12	.	.	PUNCT
ajfa-4025	319	1	journal	journal	NOUN
ajfa-4025	319	2	of	of	ADP
ajfa-4025	319	3	finance	finance	NOUN
ajfa-4025	319	4	,	,	PUNCT
ajfa-4025	319	5	52	52	NUM
ajfa-4025	319	6	,	,	PUNCT
ajfa-4025	319	7	1	1	NUM
ajfa-4025	319	8	-	-	SYM
ajfa-4025	319	9	33	33	NUM
ajfa-4025	319	10	.	.	PUNCT
ajfa-4025	319	11	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03806.x	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03806.x	PROPN
ajfa-4025	319	12	asian	asian	ADJ
ajfa-4025	319	13	journal	journal	NOUN
ajfa-4025	319	14	of	of	ADP
ajfa-4025	319	15	finance	finance	PROPN
ajfa-4025	319	16	&	&	CCONJ
ajfa-4025	319	17	accounting	accounting	PROPN
ajfa-4025	319	18	issn	issn	PROPN
ajfa-4025	319	19	1946	1946	NUM
ajfa-4025	319	20	-	-	PUNCT
ajfa-4025	319	21	052x	052x	NOUN
ajfa-4025	319	22	2013	2013	NUM
ajfa-4025	319	23	,	,	PUNCT
ajfa-4025	319	24	vol	vol	NOUN
ajfa-4025	319	25	.	.	PROPN
ajfa-4025	319	26	5	5	NUM
ajfa-4025	319	27	,	,	PUNCT
ajfa-4025	319	28	no	no	INTJ
ajfa-4025	319	29	.	.	NOUN
ajfa-4025	319	30	2	2	NUM
ajfa-4025	319	31	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	319	32	179	179	NUM
ajfa-4025	319	33	daniel	daniel	PROPN
ajfa-4025	319	34	,	,	PUNCT
ajfa-4025	319	35	k.	k.	PROPN
ajfa-4025	319	36	,	,	PUNCT
ajfa-4025	319	37	titman	titman	PROPN
ajfa-4025	319	38	,	,	PUNCT
ajfa-4025	319	39	s.s	s.s	PROPN
ajfa-4025	319	40	.	.	PROPN
ajfa-4025	319	41	,	,	PUNCT
ajfa-4025	319	42	&	&	CCONJ
ajfa-4025	319	43	wei	wei	PROPN
ajfa-4025	319	44	,	,	PUNCT
ajfa-4025	319	45	j.	j.	PROPN
ajfa-4025	319	46	k.	k.	PROPN
ajfa-4025	319	47	c.	c.	PROPN
ajfa-4025	319	48	(	(	PUNCT
ajfa-4025	319	49	2001	2001	NUM
ajfa-4025	319	50	)	)	PUNCT
ajfa-4025	319	51	.	.	PUNCT
ajfa-4025	320	1	explaining	explain	VERB
ajfa-4025	320	2	the	the	DET
ajfa-4025	320	3	cross	cross	NOUN
ajfa-4025	320	4	-	-	NOUN
ajfa-4025	320	5	section	section	NOUN
ajfa-4025	320	6	of	of	ADP
ajfa-4025	320	7	stock	stock	NOUN
ajfa-4025	320	8	returns	return	NOUN
ajfa-4025	320	9	in	in	ADP
ajfa-4025	320	10	japan	japan	PROPN
ajfa-4025	320	11	:	:	PUNCT
ajfa-4025	320	12	factors	factor	NOUN
ajfa-4025	320	13	or	or	CCONJ
ajfa-4025	320	14	characteristics	characteristic	NOUN
ajfa-4025	320	15	?	?	PUNCT
ajfa-4025	321	1	journal	journal	NOUN
ajfa-4025	321	2	of	of	ADP
ajfa-4025	321	3	finance	finance	NOUN
ajfa-4025	321	4	,	,	PUNCT
ajfa-4025	321	5	56	56	NUM
ajfa-4025	321	6	,	,	PUNCT
ajfa-4025	321	7	743	743	NUM
ajfa-4025	321	8	-	-	SYM
ajfa-4025	321	9	766	766	NUM
ajfa-4025	321	10	.	.	PUNCT
ajfa-4025	322	1	http://dx.doi.org/10.1111/0022-1082.00344	http://dx.doi.org/10.1111/0022-1082.00344	PROPN
ajfa-4025	322	2	davis	davis	PROPN
ajfa-4025	322	3	,	,	PUNCT
ajfa-4025	322	4	e.	e.	PROPN
ajfa-4025	322	5	p.	p.	PROPN
ajfa-4025	322	6	,	,	PUNCT
ajfa-4025	322	7	&	&	CCONJ
ajfa-4025	322	8	henry	henry	PROPN
ajfa-4025	322	9	,	,	PUNCT
ajfa-4025	322	10	s.	s.	PROPN
ajfa-4025	322	11	g.	g.	PROPN
ajfa-4025	322	12	b.	b.	PROPN
ajfa-4025	322	13	(	(	PUNCT
ajfa-4025	322	14	1994	1994	NUM
ajfa-4025	322	15	)	)	PUNCT
ajfa-4025	322	16	.	.	PUNCT
ajfa-4025	323	1	the	the	DET
ajfa-4025	323	2	use	use	NOUN
ajfa-4025	323	3	of	of	ADP
ajfa-4025	323	4	financial	financial	ADJ
ajfa-4025	323	5	spreads	spread	NOUN
ajfa-4025	323	6	as	as	ADP
ajfa-4025	323	7	indicator	indicator	NOUN
ajfa-4025	323	8	variables	variable	NOUN
ajfa-4025	323	9	:	:	PUNCT
ajfa-4025	323	10	evidence	evidence	NOUN
ajfa-4025	323	11	for	for	ADP
ajfa-4025	323	12	the	the	DET
ajfa-4025	323	13	u.k	u.k	PROPN
ajfa-4025	323	14	.	.	PROPN
ajfa-4025	323	15	and	and	CCONJ
ajfa-4025	323	16	germany	germany	PROPN
ajfa-4025	323	17	.	.	PUNCT
ajfa-4025	324	1	imf	imf	PROPN
ajfa-4025	324	2	working	working	PROPN
ajfa-4025	324	3	papers	paper	NOUN
ajfa-4025	324	4	94/31	94/31	NUM
ajfa-4025	324	5	.	.	PUNCT
ajfa-4025	324	6	drew	draw	VERB
ajfa-4025	324	7	,	,	PUNCT
ajfa-4025	324	8	m.	m.	PROPN
ajfa-4025	324	9	e.	e.	PROPN
ajfa-4025	324	10	,	,	PUNCT
ajfa-4025	324	11	&	&	CCONJ
ajfa-4025	324	12	veeraraghavan	veeraraghavan	PROPN
ajfa-4025	324	13	,	,	PUNCT
ajfa-4025	324	14	m.	m.	NOUN
ajfa-4025	324	15	(	(	PUNCT
ajfa-4025	324	16	2002	2002	NUM
ajfa-4025	324	17	)	)	PUNCT
ajfa-4025	324	18	.	.	PUNCT
ajfa-4025	325	1	a	a	DET
ajfa-4025	325	2	closer	close	ADJ
ajfa-4025	325	3	look	look	NOUN
ajfa-4025	325	4	at	at	ADP
ajfa-4025	325	5	the	the	DET
ajfa-4025	325	6	size	size	NOUN
ajfa-4025	325	7	and	and	CCONJ
ajfa-4025	325	8	value	value	NOUN
ajfa-4025	325	9	premium	premium	NOUN
ajfa-4025	325	10	in	in	ADP
ajfa-4025	325	11	emerging	emerge	VERB
ajfa-4025	325	12	market	market	NOUN
ajfa-4025	325	13	:	:	PUNCT
ajfa-4025	325	14	evidence	evidence	NOUN
ajfa-4025	325	15	from	from	ADP
ajfa-4025	325	16	the	the	DET
ajfa-4025	325	17	kuala	kuala	PROPN
ajfa-4025	325	18	lumpur	lumpur	PROPN
ajfa-4025	325	19	stock	stock	PROPN
ajfa-4025	325	20	exchange	exchange	PROPN
ajfa-4025	325	21	.	.	PUNCT
ajfa-4025	326	1	asian	asian	ADJ
ajfa-4025	326	2	economic	economic	ADJ
ajfa-4025	326	3	journal	journal	NOUN
ajfa-4025	326	4	,	,	PUNCT
ajfa-4025	326	5	16(4	16(4	PROPN
ajfa-4025	326	6	)	)	PUNCT
ajfa-4025	326	7	,	,	PUNCT
ajfa-4025	326	8	337	337	NUM
ajfa-4025	326	9	-	-	SYM
ajfa-4025	326	10	351	351	NUM
ajfa-4025	326	11	.	.	PUNCT
ajfa-4025	327	1	http://dx.doi.org/10.1111/1467-8381.00156	http://dx.doi.org/10.1111/1467-8381.00156	PROPN
ajfa-4025	327	2	drew	draw	VERB
ajfa-4025	327	3	,	,	PUNCT
ajfa-4025	327	4	m.	m.	PROPN
ajfa-4025	327	5	e.	e.	PROPN
ajfa-4025	327	6	,	,	PUNCT
ajfa-4025	327	7	naughton	naughton	PROPN
ajfa-4025	327	8	,	,	PUNCT
ajfa-4025	327	9	t.	t.	PROPN
ajfa-4025	327	10	,	,	PUNCT
ajfa-4025	327	11	&	&	CCONJ
ajfa-4025	327	12	veeraraghavan	veeraraghavan	PROPN
ajfa-4025	327	13	,	,	PUNCT
ajfa-4025	327	14	m.	m.	NOUN
ajfa-4025	327	15	(	(	PUNCT
ajfa-4025	327	16	2003a	2003a	NUM
ajfa-4025	327	17	)	)	PUNCT
ajfa-4025	327	18	.	.	PUNCT
ajfa-4025	328	1	firm	firm	ADJ
ajfa-4025	328	2	size	size	NOUN
ajfa-4025	328	3	,	,	PUNCT
ajfa-4025	328	4	book	book	NOUN
ajfa-4025	328	5	-	-	PUNCT
ajfa-4025	328	6	to	to	ADP
ajfa-4025	328	7	-	-	PUNCT
ajfa-4025	328	8	market	market	NOUN
ajfa-4025	328	9	equity	equity	NOUN
ajfa-4025	328	10	and	and	CCONJ
ajfa-4025	328	11	security	security	NOUN
ajfa-4025	328	12	returns	return	NOUN
ajfa-4025	328	13	:	:	PUNCT
ajfa-4025	328	14	evidence	evidence	NOUN
ajfa-4025	328	15	from	from	ADP
ajfa-4025	328	16	the	the	DET
ajfa-4025	328	17	shanghai	shanghai	PROPN
ajfa-4025	328	18	stock	stock	PROPN
ajfa-4025	328	19	exchange	exchange	PROPN
ajfa-4025	328	20	.	.	PUNCT
ajfa-4025	329	1	australian	australian	ADJ
ajfa-4025	329	2	journal	journal	NOUN
ajfa-4025	329	3	of	of	ADP
ajfa-4025	329	4	management	management	NOUN
ajfa-4025	329	5	,	,	PUNCT
ajfa-4025	329	6	28(2	28(2	NUM
ajfa-4025	329	7	)	)	PUNCT
ajfa-4025	329	8	,	,	PUNCT
ajfa-4025	329	9	119	119	NUM
ajfa-4025	329	10	-	-	SYM
ajfa-4025	329	11	139	139	NUM
ajfa-4025	329	12	.	.	PUNCT
ajfa-4025	330	1	http://dx.doi.org/10.1177/031289620302800201	http://dx.doi.org/10.1177/031289620302800201	PROPN
ajfa-4025	330	2	drew	draw	VERB
ajfa-4025	330	3	,	,	PUNCT
ajfa-4025	330	4	m.e	m.e	PROPN
ajfa-4025	330	5	.	.	PROPN
ajfa-4025	330	6	,	,	PUNCT
ajfa-4025	330	7	&	&	CCONJ
ajfa-4025	330	8	veeraraghavan	veeraraghavan	PROPN
ajfa-4025	330	9	,	,	PUNCT
ajfa-4025	330	10	m.	m.	NOUN
ajfa-4025	330	11	(	(	PUNCT
ajfa-4025	330	12	2003b	2003b	NUM
ajfa-4025	330	13	)	)	PUNCT
ajfa-4025	330	14	.	.	PUNCT
ajfa-4025	331	1	beta	beta	NOUN
ajfa-4025	331	2	,	,	PUNCT
ajfa-4025	331	3	firm	firm	ADJ
ajfa-4025	331	4	size	size	NOUN
ajfa-4025	331	5	,	,	PUNCT
ajfa-4025	331	6	book	book	NOUN
ajfa-4025	331	7	-	-	PUNCT
ajfa-4025	331	8	to	to	ADP
ajfa-4025	331	9	-	-	PUNCT
ajfa-4025	331	10	market	market	NOUN
ajfa-4025	331	11	equity	equity	NOUN
ajfa-4025	331	12	and	and	CCONJ
ajfa-4025	331	13	stock	stock	NOUN
ajfa-4025	331	14	returns	return	NOUN
ajfa-4025	331	15	:	:	PUNCT
ajfa-4025	331	16	further	further	ADJ
ajfa-4025	331	17	evidence	evidence	NOUN
ajfa-4025	331	18	from	from	ADP
ajfa-4025	331	19	emerging	emerge	VERB
ajfa-4025	331	20	markets	market	NOUN
ajfa-4025	331	21	.	.	PUNCT
ajfa-4025	332	1	journal	journal	NOUN
ajfa-4025	332	2	of	of	ADP
ajfa-4025	332	3	the	the	DET
ajfa-4025	332	4	asia	asia	PROPN
ajfa-4025	332	5	pacific	pacific	PROPN
ajfa-4025	332	6	economy	economy	NOUN
ajfa-4025	332	7	,	,	PUNCT
ajfa-4025	332	8	8	8	NUM
ajfa-4025	332	9	,	,	PUNCT
ajfa-4025	332	10	354	354	NUM
ajfa-4025	332	11	-	-	SYM
ajfa-4025	332	12	379	379	NUM
ajfa-4025	332	13	.	.	PUNCT
ajfa-4025	333	1	http://dx.doi.org/10.1080/13547860306289	http://dx.doi.org/10.1080/13547860306289	PROPN
ajfa-4025	333	2	erdogan	erdogan	PROPN
ajfa-4025	333	3	,	,	PUNCT
ajfa-4025	333	4	e.	e.	PROPN
ajfa-4025	333	5	,	,	PUNCT
ajfa-4025	333	6	&	&	CCONJ
ajfa-4025	333	7	ozlale	ozlale	NOUN
ajfa-4025	333	8	,	,	PUNCT
ajfa-4025	333	9	u.	u.	NOUN
ajfa-4025	333	10	(	(	PUNCT
ajfa-4025	333	11	2005	2005	NUM
ajfa-4025	333	12	)	)	PUNCT
ajfa-4025	333	13	.	.	PUNCT
ajfa-4025	334	1	effects	effect	NOUN
ajfa-4025	334	2	of	of	ADP
ajfa-4025	334	3	macroeconomic	macroeconomic	ADJ
ajfa-4025	334	4	dynamics	dynamic	NOUN
ajfa-4025	334	5	on	on	ADP
ajfa-4025	334	6	stock	stock	NOUN
ajfa-4025	334	7	returns	return	NOUN
ajfa-4025	334	8	:	:	PUNCT
ajfa-4025	334	9	the	the	DET
ajfa-4025	334	10	case	case	NOUN
ajfa-4025	334	11	of	of	ADP
ajfa-4025	334	12	the	the	DET
ajfa-4025	334	13	turkish	turkish	ADJ
ajfa-4025	334	14	stock	stock	NOUN
ajfa-4025	334	15	exchange	exchange	NOUN
ajfa-4025	334	16	market	market	NOUN
ajfa-4025	334	17	.	.	PUNCT
ajfa-4025	335	1	journal	journal	NOUN
ajfa-4025	335	2	of	of	ADP
ajfa-4025	335	3	economic	economic	ADJ
ajfa-4025	335	4	cooperation	cooperation	NOUN
ajfa-4025	335	5	,	,	PUNCT
ajfa-4025	335	6	26(2	26(2	NUM
ajfa-4025	335	7	)	)	PUNCT
ajfa-4025	335	8	,	,	PUNCT
ajfa-4025	335	9	69	69	NUM
ajfa-4025	335	10	-	-	SYM
ajfa-4025	335	11	90	90	NUM
ajfa-4025	335	12	.	.	PUNCT
ajfa-4025	336	1	faff	faff	PROPN
ajfa-4025	336	2	,	,	PUNCT
ajfa-4025	336	3	r.	r.	PROPN
ajfa-4025	336	4	(	(	PUNCT
ajfa-4025	336	5	2001	2001	NUM
ajfa-4025	336	6	)	)	PUNCT
ajfa-4025	336	7	.	.	PUNCT
ajfa-4025	337	1	an	an	DET
ajfa-4025	337	2	examination	examination	NOUN
ajfa-4025	337	3	of	of	ADP
ajfa-4025	337	4	the	the	DET
ajfa-4025	337	5	fama	fama	NOUN
ajfa-4025	337	6	and	and	CCONJ
ajfa-4025	337	7	french	french	ADJ
ajfa-4025	337	8	three	three	NUM
ajfa-4025	337	9	-	-	PUNCT
ajfa-4025	337	10	factor	factor	NOUN
ajfa-4025	337	11	model	model	NOUN
ajfa-4025	337	12	using	use	VERB
ajfa-4025	337	13	commercially	commercially	ADV
ajfa-4025	337	14	available	available	ADJ
ajfa-4025	337	15	factors	factor	NOUN
ajfa-4025	337	16	.	.	PUNCT
ajfa-4025	338	1	australian	australian	ADJ
ajfa-4025	338	2	journal	journal	NOUN
ajfa-4025	338	3	of	of	ADP
ajfa-4025	338	4	management	management	NOUN
ajfa-4025	338	5	,	,	PUNCT
ajfa-4025	338	6	26	26	NUM
ajfa-4025	338	7	,	,	PUNCT
ajfa-4025	338	8	1	1	NUM
ajfa-4025	338	9	-	-	SYM
ajfa-4025	338	10	17	17	NUM
ajfa-4025	338	11	.	.	PUNCT
ajfa-4025	339	1	http://dx.doi.org/10.1177/031289620102600101	http://dx.doi.org/10.1177/031289620102600101	PROPN
ajfa-4025	339	2	fama	fama	PROPN
ajfa-4025	339	3	,	,	PUNCT
ajfa-4025	339	4	e.	e.	PROPN
ajfa-4025	339	5	,	,	PUNCT
ajfa-4025	339	6	&	&	CCONJ
ajfa-4025	339	7	french	french	PROPN
ajfa-4025	339	8	,	,	PUNCT
ajfa-4025	339	9	k.	k.	PROPN
ajfa-4025	339	10	(	(	PUNCT
ajfa-4025	339	11	1993	1993	NUM
ajfa-4025	339	12	)	)	PUNCT
ajfa-4025	339	13	.	.	PUNCT
ajfa-4025	340	1	common	common	ADJ
ajfa-4025	340	2	risk	risk	NOUN
ajfa-4025	340	3	factors	factor	NOUN
ajfa-4025	340	4	in	in	ADP
ajfa-4025	340	5	the	the	DET
ajfa-4025	340	6	returns	return	NOUN
ajfa-4025	340	7	on	on	ADP
ajfa-4025	340	8	stocks	stock	NOUN
ajfa-4025	340	9	and	and	CCONJ
ajfa-4025	340	10	bonds	bond	NOUN
ajfa-4025	340	11	.	.	PUNCT
ajfa-4025	341	1	journal	journal	NOUN
ajfa-4025	341	2	of	of	ADP
ajfa-4025	341	3	financial	financial	ADJ
ajfa-4025	341	4	economics	economic	NOUN
ajfa-4025	341	5	,	,	PUNCT
ajfa-4025	341	6	33	33	NUM
ajfa-4025	341	7	,	,	PUNCT
ajfa-4025	341	8	3–56	3–56	NOUN
ajfa-4025	341	9	.	.	PUNCT
ajfa-4025	342	1	http://dx.doi.org/10.1016/0304-405x(93)90023-5	http://dx.doi.org/10.1016/0304-405x(93)90023-5	PROPN
ajfa-4025	342	2	fama	fama	PROPN
ajfa-4025	342	3	,	,	PUNCT
ajfa-4025	342	4	e.	e.	PROPN
ajfa-4025	342	5	,	,	PUNCT
ajfa-4025	342	6	&	&	CCONJ
ajfa-4025	342	7	french	french	PROPN
ajfa-4025	342	8	,	,	PUNCT
ajfa-4025	342	9	k.	k.	PROPN
ajfa-4025	342	10	r.	r.	PROPN
ajfa-4025	342	11	(	(	PUNCT
ajfa-4025	342	12	1992	1992	NUM
ajfa-4025	342	13	)	)	PUNCT
ajfa-4025	342	14	.	.	PUNCT
ajfa-4025	343	1	the	the	DET
ajfa-4025	343	2	cross	cross	NOUN
ajfa-4025	343	3	-	-	NOUN
ajfa-4025	343	4	section	section	NOUN
ajfa-4025	343	5	of	of	ADP
ajfa-4025	343	6	expected	expect	VERB
ajfa-4025	343	7	stock	stock	NOUN
ajfa-4025	343	8	returns	return	NOUN
ajfa-4025	343	9	.	.	PUNCT
ajfa-4025	344	1	journal	journal	NOUN
ajfa-4025	344	2	of	of	ADP
ajfa-4025	344	3	finance	finance	NOUN
ajfa-4025	344	4	,	,	PUNCT
ajfa-4025	344	5	47	47	NUM
ajfa-4025	344	6	,	,	PUNCT
ajfa-4025	344	7	427	427	NUM
ajfa-4025	344	8	-	-	SYM
ajfa-4025	344	9	465	465	NUM
ajfa-4025	344	10	.	.	PUNCT
ajfa-4025	345	1	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04398.x	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04398.x	PROPN
ajfa-4025	345	2	fama	fama	PROPN
ajfa-4025	345	3	,	,	PUNCT
ajfa-4025	345	4	e.	e.	PROPN
ajfa-4025	345	5	f.	f.	PROPN
ajfa-4025	345	6	(	(	PUNCT
ajfa-4025	345	7	1970	1970	NUM
ajfa-4025	345	8	)	)	PUNCT
ajfa-4025	345	9	.	.	PUNCT
ajfa-4025	346	1	efficient	efficient	ADJ
ajfa-4025	346	2	capital	capital	NOUN
ajfa-4025	346	3	markets	market	NOUN
ajfa-4025	346	4	:	:	PUNCT
ajfa-4025	346	5	a	a	DET
ajfa-4025	346	6	review	review	NOUN
ajfa-4025	346	7	of	of	ADP
ajfa-4025	346	8	theory	theory	NOUN
ajfa-4025	346	9	and	and	CCONJ
ajfa-4025	346	10	empirical	empirical	ADJ
ajfa-4025	346	11	work	work	NOUN
ajfa-4025	346	12	.	.	PUNCT
ajfa-4025	347	1	journal	journal	PROPN
ajfa-4025	347	2	of	of	ADP
ajfa-4025	347	3	finance	finance	NOUN
ajfa-4025	347	4	,	,	PUNCT
ajfa-4025	347	5	25	25	NUM
ajfa-4025	347	6	,	,	PUNCT
ajfa-4025	347	7	383–417	383–417	NUM
ajfa-4025	347	8	.	.	PUNCT
ajfa-4025	348	1	http://dx.doi.org/10.2307/2325486	http://dx.doi.org/10.2307/2325486	PROPN
ajfa-4025	348	2	fama	fama	PROPN
ajfa-4025	348	3	,	,	PUNCT
ajfa-4025	348	4	e.	e.	PROPN
ajfa-4025	348	5	f.	f.	PROPN
ajfa-4025	348	6	(	(	PUNCT
ajfa-4025	348	7	1990	1990	NUM
ajfa-4025	348	8	)	)	PUNCT
ajfa-4025	348	9	.	.	PUNCT
ajfa-4025	349	1	stock	stock	NOUN
ajfa-4025	349	2	returns	return	NOUN
ajfa-4025	349	3	,	,	PUNCT
ajfa-4025	349	4	expected	expect	VERB
ajfa-4025	349	5	returns	return	NOUN
ajfa-4025	349	6	,	,	PUNCT
ajfa-4025	349	7	and	and	CCONJ
ajfa-4025	349	8	real	real	ADJ
ajfa-4025	349	9	activity	activity	NOUN
ajfa-4025	349	10	.	.	PUNCT
ajfa-4025	350	1	journal	journal	PROPN
ajfa-4025	350	2	of	of	ADP
ajfa-4025	350	3	finance	finance	NOUN
ajfa-4025	350	4	,	,	PUNCT
ajfa-4025	350	5	45	45	NUM
ajfa-4025	350	6	,	,	PUNCT
ajfa-4025	350	7	1089	1089	NUM
ajfa-4025	350	8	-	-	SYM
ajfa-4025	350	9	1108	1108	NUM
ajfa-4025	350	10	.	.	PUNCT
ajfa-4025	351	1	http://dx.doi.org/10.1111/j.1540-6261.1990.tb02428.x	http://dx.doi.org/10.1111/j.1540-6261.1990.tb02428.x	PROPN
ajfa-4025	351	2	fama	fama	NOUN
ajfa-4025	351	3	,	,	PUNCT
ajfa-4025	351	4	e.	e.	PROPN
ajfa-4025	351	5	f.	f.	PROPN
ajfa-4025	351	6	(	(	PUNCT
ajfa-4025	351	7	1991	1991	NUM
ajfa-4025	351	8	)	)	PUNCT
ajfa-4025	351	9	.	.	PUNCT
ajfa-4025	352	1	efficient	efficient	ADJ
ajfa-4025	352	2	capital	capital	NOUN
ajfa-4025	352	3	markets	market	NOUN
ajfa-4025	352	4	:	:	PUNCT
ajfa-4025	352	5	ii	ii	PROPN
ajfa-4025	352	6	.	.	PROPN
ajfa-4025	352	7	journal	journal	PROPN
ajfa-4025	352	8	of	of	ADP
ajfa-4025	352	9	finance	finance	NOUN
ajfa-4025	352	10	,	,	PUNCT
ajfa-4025	352	11	96	96	NUM
ajfa-4025	352	12	,	,	PUNCT
ajfa-4025	352	13	1575–1617	1575–1617	NUM
ajfa-4025	352	14	.	.	PUNCT
ajfa-4025	353	1	http://dx.doi.org/10.1111/j.1540-6261.1991.tb04636.x	http://dx.doi.org/10.1111/j.1540-6261.1991.tb04636.x	PROPN
ajfa-4025	353	2	fama	fama	PROPN
ajfa-4025	353	3	,	,	PUNCT
ajfa-4025	353	4	e.	e.	PROPN
ajfa-4025	353	5	f.	f.	PROPN
ajfa-4025	353	6	,	,	PUNCT
ajfa-4025	353	7	&	&	CCONJ
ajfa-4025	353	8	french	french	PROPN
ajfa-4025	353	9	,	,	PUNCT
ajfa-4025	353	10	k.	k.	PROPN
ajfa-4025	353	11	r.	r.	PROPN
ajfa-4025	353	12	(	(	PUNCT
ajfa-4025	353	13	1996	1996	NUM
ajfa-4025	353	14	)	)	PUNCT
ajfa-4025	353	15	.	.	PUNCT
ajfa-4025	354	1	multifactor	multifactor	NOUN
ajfa-4025	354	2	explanations	explanation	NOUN
ajfa-4025	354	3	of	of	ADP
ajfa-4025	354	4	asset	asset	NOUN
ajfa-4025	354	5	pricing	pricing	NOUN
ajfa-4025	354	6	anomalies	anomaly	NOUN
ajfa-4025	354	7	.	.	PUNCT
ajfa-4025	355	1	journal	journal	PROPN
ajfa-4025	355	2	of	of	ADP
ajfa-4025	355	3	finance	finance	NOUN
ajfa-4025	355	4	,	,	PUNCT
ajfa-4025	355	5	51	51	NUM
ajfa-4025	355	6	,	,	PUNCT
ajfa-4025	355	7	55	55	NUM
ajfa-4025	355	8	-	-	SYM
ajfa-4025	355	9	84	84	NUM
ajfa-4025	355	10	.	.	PUNCT
ajfa-4025	356	1	http://dx.doi.org/10.1111/j.1540-6261.1996.tb05202.x	http://dx.doi.org/10.1111/j.1540-6261.1996.tb05202.x	PROPN
ajfa-4025	356	2	gaunt	gaunt	ADJ
ajfa-4025	356	3	,	,	PUNCT
ajfa-4025	356	4	c.	c.	PROPN
ajfa-4025	356	5	(	(	PUNCT
ajfa-4025	356	6	2004	2004	NUM
ajfa-4025	356	7	)	)	PUNCT
ajfa-4025	356	8	.	.	PUNCT
ajfa-4025	357	1	size	size	NOUN
ajfa-4025	357	2	and	and	CCONJ
ajfa-4025	357	3	book	book	NOUN
ajfa-4025	357	4	to	to	ADP
ajfa-4025	357	5	market	market	NOUN
ajfa-4025	357	6	effects	effect	NOUN
ajfa-4025	357	7	and	and	CCONJ
ajfa-4025	357	8	the	the	DET
ajfa-4025	357	9	fama	fama	NOUN
ajfa-4025	357	10	-	-	PUNCT
ajfa-4025	357	11	french	french	ADJ
ajfa-4025	357	12	three	three	NUM
ajfa-4025	357	13	factor	factor	NOUN
ajfa-4025	357	14	asset	asset	NOUN
ajfa-4025	357	15	pricing	pricing	NOUN
ajfa-4025	357	16	model	model	NOUN
ajfa-4025	357	17	:	:	PUNCT
ajfa-4025	357	18	evidence	evidence	NOUN
ajfa-4025	357	19	from	from	ADP
ajfa-4025	357	20	the	the	DET
ajfa-4025	357	21	australian	australian	ADJ
ajfa-4025	357	22	stock	stock	NOUN
ajfa-4025	357	23	-	-	PUNCT
ajfa-4025	357	24	market	market	NOUN
ajfa-4025	357	25	.	.	PUNCT
ajfa-4025	358	1	accounting	accounting	NOUN
ajfa-4025	358	2	and	and	CCONJ
ajfa-4025	358	3	finance	finance	NOUN
ajfa-4025	358	4	,	,	PUNCT
ajfa-4025	358	5	44	44	NUM
ajfa-4025	358	6	,	,	PUNCT
ajfa-4025	358	7	27	27	NUM
ajfa-4025	358	8	-	-	SYM
ajfa-4025	358	9	44	44	NUM
ajfa-4025	358	10	http://dx.doi.org/10.1111/j.1467-629x.2004.00100.x	http://dx.doi.org/10.1111/j.1467-629x.2004.00100.x	NOUN
ajfa-4025	358	11	hamao	hamao	PROPN
ajfa-4025	358	12	,	,	PUNCT
ajfa-4025	358	13	y.	y.	PROPN
ajfa-4025	358	14	(	(	PUNCT
ajfa-4025	358	15	1988	1988	NUM
ajfa-4025	358	16	)	)	PUNCT
ajfa-4025	358	17	.	.	PUNCT
ajfa-4025	359	1	an	an	DET
ajfa-4025	359	2	empirical	empirical	ADJ
ajfa-4025	359	3	examination	examination	NOUN
ajfa-4025	359	4	of	of	ADP
ajfa-4025	359	5	the	the	DET
ajfa-4025	359	6	arbitrage	arbitrage	NOUN
ajfa-4025	359	7	pricing	pricing	NOUN
ajfa-4025	359	8	theory	theory	NOUN
ajfa-4025	359	9	:	:	PUNCT
ajfa-4025	359	10	using	use	VERB
ajfa-4025	359	11	asian	asian	ADJ
ajfa-4025	359	12	journal	journal	NOUN
ajfa-4025	359	13	of	of	ADP
ajfa-4025	359	14	finance	finance	PROPN
ajfa-4025	359	15	&	&	CCONJ
ajfa-4025	359	16	accounting	accounting	PROPN
ajfa-4025	359	17	issn	issn	PROPN
ajfa-4025	359	18	1946	1946	NUM
ajfa-4025	359	19	-	-	PUNCT
ajfa-4025	359	20	052x	052x	NOUN
ajfa-4025	359	21	2013	2013	NUM
ajfa-4025	359	22	,	,	PUNCT
ajfa-4025	359	23	vol	vol	NOUN
ajfa-4025	359	24	.	.	PROPN
ajfa-4025	359	25	5	5	NUM
ajfa-4025	359	26	,	,	PUNCT
ajfa-4025	359	27	no	no	INTJ
ajfa-4025	359	28	.	.	NOUN
ajfa-4025	359	29	2	2	NUM
ajfa-4025	359	30	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	359	31	180	180	NUM
ajfa-4025	359	32	japanese	japanese	ADJ
ajfa-4025	359	33	data	datum	NOUN
ajfa-4025	359	34	.	.	PUNCT
ajfa-4025	360	1	japan	japan	PROPN
ajfa-4025	360	2	and	and	CCONJ
ajfa-4025	360	3	the	the	DET
ajfa-4025	360	4	world	world	NOUN
ajfa-4025	360	5	economy	economy	NOUN
ajfa-4025	360	6	,	,	PUNCT
ajfa-4025	360	7	1	1	NUM
ajfa-4025	360	8	,	,	PUNCT
ajfa-4025	360	9	45	45	NUM
ajfa-4025	360	10	-	-	SYM
ajfa-4025	360	11	61	61	NUM
ajfa-4025	360	12	.	.	PUNCT
ajfa-4025	361	1	http://dx.doi.org/10.1016/0922-1425(88)90005-9	http://dx.doi.org/10.1016/0922-1425(88)90005-9	NOUN
ajfa-4025	361	2	humpe	humpe	NOUN
ajfa-4025	361	3	,	,	PUNCT
ajfa-4025	361	4	a.	a.	PROPN
ajfa-4025	361	5	,	,	PUNCT
ajfa-4025	361	6	&	&	CCONJ
ajfa-4025	361	7	macmillan	macmillan	PROPN
ajfa-4025	361	8	,	,	PUNCT
ajfa-4025	361	9	p.(2007	p.(2007	PROPN
ajfa-4025	361	10	)	)	PUNCT
ajfa-4025	361	11	.	.	PUNCT
ajfa-4025	362	1	can	can	AUX
ajfa-4025	362	2	macroeconomic	macroeconomic	ADJ
ajfa-4025	362	3	variables	variable	NOUN
ajfa-4025	362	4	explain	explain	VERB
ajfa-4025	362	5	long	long	ADJ
ajfa-4025	362	6	term	term	NOUN
ajfa-4025	362	7	stock	stock	NOUN
ajfa-4025	362	8	market	market	NOUN
ajfa-4025	362	9	movements	movement	NOUN
ajfa-4025	362	10	?	?	PUNCT
ajfa-4025	363	1	a	a	DET
ajfa-4025	363	2	comparison	comparison	NOUN
ajfa-4025	363	3	of	of	ADP
ajfa-4025	363	4	the	the	DET
ajfa-4025	363	5	us	us	PROPN
ajfa-4025	363	6	and	and	CCONJ
ajfa-4025	363	7	japan	japan	PROPN
ajfa-4025	363	8	.	.	PUNCT
ajfa-4025	364	1	cdma	cdma	PROPN
ajfa-4025	364	2	working	working	PROPN
ajfa-4025	364	3	paper	paper	PROPN
ajfa-4025	364	4	no	no	INTJ
ajfa-4025	364	5	.	.	PUNCT
ajfa-4025	365	1	07/20	07/20	NUM
ajfa-4025	365	2	.	.	PUNCT
ajfa-4025	366	1	ibrahim	ibrahim	PROPN
ajfa-4025	366	2	,	,	PUNCT
ajfa-4025	366	3	m.	m.	PROPN
ajfa-4025	366	4	h.	h.	PROPN
ajfa-4025	366	5	,	,	PUNCT
ajfa-4025	366	6	&	&	CCONJ
ajfa-4025	366	7	yosoff	yosoff	PROPN
ajfa-4025	366	8	,	,	PUNCT
ajfa-4025	366	9	w.	w.	PROPN
ajfa-4025	366	10	s.	s.	PROPN
ajfa-4025	366	11	w.	w.	PROPN
ajfa-4025	366	12	(	(	PUNCT
ajfa-4025	366	13	2001	2001	NUM
ajfa-4025	366	14	)	)	PUNCT
ajfa-4025	366	15	.	.	PUNCT
ajfa-4025	367	1	macroeconomic	macroeconomic	ADJ
ajfa-4025	367	2	variables	variable	NOUN
ajfa-4025	367	3	,	,	PUNCT
ajfa-4025	367	4	exchange	exchange	NOUN
ajfa-4025	367	5	rate	rate	NOUN
ajfa-4025	367	6	and	and	CCONJ
ajfa-4025	367	7	stock	stock	NOUN
ajfa-4025	367	8	prices	price	NOUN
ajfa-4025	367	9	:	:	PUNCT
ajfa-4025	367	10	a	a	DET
ajfa-4025	367	11	malaysian	malaysian	ADJ
ajfa-4025	367	12	perspective	perspective	NOUN
ajfa-4025	367	13	.	.	PUNCT
ajfa-4025	368	1	iium	iium	PROPN
ajfa-4025	368	2	journal	journal	PROPN
ajfa-4025	368	3	of	of	ADP
ajfa-4025	368	4	economics	economic	NOUN
ajfa-4025	368	5	and	and	CCONJ
ajfa-4025	368	6	management	management	NOUN
ajfa-4025	368	7	,	,	PUNCT
ajfa-4025	368	8	9(2	9(2	NUM
ajfa-4025	368	9	)	)	PUNCT
ajfa-4025	368	10	,	,	PUNCT
ajfa-4025	368	11	141	141	NUM
ajfa-4025	368	12	-	-	SYM
ajfa-4025	368	13	163	163	NUM
ajfa-4025	368	14	.	.	PUNCT
ajfa-4025	369	1	jensen	jensen	PROPN
ajfa-4025	369	2	,	,	PUNCT
ajfa-4025	369	3	g.	g.	PROPN
ajfa-4025	369	4	r.	r.	PROPN
ajfa-4025	369	5	,	,	PUNCT
ajfa-4025	369	6	johnson	johnson	PROPN
ajfa-4025	369	7	,	,	PUNCT
ajfa-4025	369	8	r.	r.	PROPN
ajfa-4025	369	9	r.	r.	PROPN
ajfa-4025	369	10	,	,	PUNCT
ajfa-4025	369	11	&	&	CCONJ
ajfa-4025	369	12	mercer	mercer	PROPN
ajfa-4025	369	13	,	,	PUNCT
ajfa-4025	369	14	j.	j.	PROPN
ajfa-4025	369	15	m.	m.	PROPN
ajfa-4025	369	16	(	(	PUNCT
ajfa-4025	369	17	1997	1997	NUM
ajfa-4025	369	18	)	)	PUNCT
ajfa-4025	369	19	.	.	PUNCT
ajfa-4025	370	1	new	new	ADJ
ajfa-4025	370	2	evidence	evidence	NOUN
ajfa-4025	370	3	on	on	ADP
ajfa-4025	370	4	size	size	NOUN
ajfa-4025	370	5	and	and	CCONJ
ajfa-4025	370	6	price	price	NOUN
ajfa-4025	370	7	to	to	ADP
ajfa-4025	370	8	book	book	NOUN
ajfa-4025	370	9	effects	effect	NOUN
ajfa-4025	370	10	in	in	ADP
ajfa-4025	370	11	stock	stock	NOUN
ajfa-4025	370	12	return	return	NOUN
ajfa-4025	370	13	.	.	PUNCT
ajfa-4025	371	1	financial	financial	ADJ
ajfa-4025	371	2	analysts	analyst	NOUN
ajfa-4025	371	3	journal	journal	NOUN
ajfa-4025	371	4	,	,	PUNCT
ajfa-4025	371	5	53	53	NUM
ajfa-4025	371	6	,	,	PUNCT
ajfa-4025	371	7	34	34	NUM
ajfa-4025	371	8	–	–	SYM
ajfa-4025	371	9	41	41	NUM
ajfa-4025	371	10	.	.	PUNCT
ajfa-4025	372	1	http://dx.doi.org/10.2469/faj.v53.n6.2128	http://dx.doi.org/10.2469/faj.v53.n6.2128	PROPN
ajfa-4025	372	2	keim	keim	PROPN
ajfa-4025	372	3	,	,	PUNCT
ajfa-4025	372	4	d.b	d.b	PROPN
ajfa-4025	372	5	.	.	PROPN
ajfa-4025	372	6	(	(	PUNCT
ajfa-4025	372	7	1983	1983	NUM
ajfa-4025	372	8	)	)	PUNCT
ajfa-4025	372	9	.	.	PUNCT
ajfa-4025	373	1	size	size	NOUN
ajfa-4025	373	2	related	relate	VERB
ajfa-4025	373	3	anomalies	anomaly	NOUN
ajfa-4025	373	4	and	and	CCONJ
ajfa-4025	373	5	stock	stock	NOUN
ajfa-4025	373	6	return	return	NOUN
ajfa-4025	373	7	seasonality	seasonality	NOUN
ajfa-4025	373	8	:	:	PUNCT
ajfa-4025	373	9	further	further	ADJ
ajfa-4025	373	10	empirical	empirical	ADJ
ajfa-4025	373	11	evidence	evidence	NOUN
ajfa-4025	373	12	.	.	PUNCT
ajfa-4025	374	1	journal	journal	NOUN
ajfa-4025	374	2	of	of	ADP
ajfa-4025	374	3	financial	financial	ADJ
ajfa-4025	374	4	economics	economic	NOUN
ajfa-4025	374	5	,	,	PUNCT
ajfa-4025	374	6	12	12	NUM
ajfa-4025	374	7	,	,	PUNCT
ajfa-4025	374	8	13	13	NUM
ajfa-4025	374	9	32	32	NUM
ajfa-4025	374	10	.	.	PUNCT
ajfa-4025	375	1	http://dx.doi.org/10.1016/0304-405x(83)90025-9	http://dx.doi.org/10.1016/0304-405x(83)90025-9	PROPN
ajfa-4025	375	2	lakonishok	lakonishok	NOUN
ajfa-4025	375	3	,	,	PUNCT
ajfa-4025	375	4	j.	j.	PROPN
ajfa-4025	375	5	,	,	PUNCT
ajfa-4025	375	6	shleifer	shleifer	PROPN
ajfa-4025	375	7	,	,	PUNCT
ajfa-4025	375	8	a.	a.	PROPN
ajfa-4025	375	9	,	,	PUNCT
ajfa-4025	375	10	&	&	CCONJ
ajfa-4025	375	11	vishny	vishny	PROPN
ajfa-4025	375	12	,	,	PUNCT
ajfa-4025	375	13	r.	r.	PROPN
ajfa-4025	375	14	(	(	PUNCT
ajfa-4025	375	15	1994	1994	NUM
ajfa-4025	375	16	)	)	PUNCT
ajfa-4025	375	17	.	.	PUNCT
ajfa-4025	376	1	contrarian	contrarian	ADJ
ajfa-4025	376	2	investment	investment	NOUN
ajfa-4025	376	3	,	,	PUNCT
ajfa-4025	376	4	extrapolation	extrapolation	NOUN
ajfa-4025	376	5	.	.	PUNCT
ajfa-4025	377	1	risk	risk	NOUN
ajfa-4025	377	2	.	.	PUNCT
ajfa-4025	378	1	journal	journal	PROPN
ajfa-4025	378	2	of	of	ADP
ajfa-4025	378	3	finance	finance	NOUN
ajfa-4025	378	4	,	,	PUNCT
ajfa-4025	378	5	49	49	NUM
ajfa-4025	378	6	,	,	PUNCT
ajfa-4025	378	7	1541	1541	NUM
ajfa-4025	378	8	-	-	SYM
ajfa-4025	378	9	1578	1578	NUM
ajfa-4025	378	10	.	.	PUNCT
ajfa-4025	379	1	http://dx.doi.org/10.1111/j.1540-6261.1994.tb04772.x	http://dx.doi.org/10.1111/j.1540-6261.1994.tb04772.x	PROPN
ajfa-4025	379	2	le	le	PROPN
ajfa-4025	379	3	,	,	PUNCT
ajfa-4025	379	4	t.h	t.h	PROPN
ajfa-4025	379	5	.	.	PROPN
ajfa-4025	379	6	,	,	PUNCT
ajfa-4025	379	7	&	&	CCONJ
ajfa-4025	379	8	chang	chang	PROPN
ajfa-4025	379	9	,	,	PUNCT
ajfa-4025	379	10	y.b	y.b	PROPN
ajfa-4025	379	11	.	.	PROPN
ajfa-4025	379	12	(	(	PUNCT
ajfa-4025	379	13	2011	2011	NUM
ajfa-4025	379	14	)	)	PUNCT
ajfa-4025	379	15	.	.	PUNCT
ajfa-4025	380	1	the	the	DET
ajfa-4025	380	2	impact	impact	NOUN
ajfa-4025	380	3	of	of	ADP
ajfa-4025	380	4	oil	oil	NOUN
ajfa-4025	380	5	price	price	NOUN
ajfa-4025	380	6	fluctuations	fluctuation	NOUN
ajfa-4025	380	7	on	on	ADP
ajfa-4025	380	8	stock	stock	NOUN
ajfa-4025	380	9	markets	market	NOUN
ajfa-4025	380	10	in	in	ADP
ajfa-4025	380	11	developed	developed	ADJ
ajfa-4025	380	12	and	and	CCONJ
ajfa-4025	380	13	emerging	emerge	VERB
ajfa-4025	380	14	economies	economy	NOUN
ajfa-4025	380	15	.	.	PUNCT
ajfa-4025	381	1	mpra	mpra	PROPN
ajfa-4025	381	2	paper	paper	PROPN
ajfa-4025	381	3	31753	31753	NUM
ajfa-4025	381	4	,	,	PUNCT
ajfa-4025	381	5	university	university	NOUN
ajfa-4025	381	6	library	library	NOUN
ajfa-4025	381	7	of	of	ADP
ajfa-4025	381	8	munich	munich	PROPN
ajfa-4025	381	9	,	,	PUNCT
ajfa-4025	381	10	germany	germany	PROPN
ajfa-4025	381	11	.	.	PUNCT
ajfa-4025	381	12	lintner	lintner	PROPN
ajfa-4025	381	13	,	,	PUNCT
ajfa-4025	381	14	j.	j.	PROPN
ajfa-4025	381	15	(	(	PUNCT
ajfa-4025	381	16	1965	1965	NUM
ajfa-4025	381	17	)	)	PUNCT
ajfa-4025	381	18	.	.	PUNCT
ajfa-4025	382	1	the	the	DET
ajfa-4025	382	2	valuation	valuation	NOUN
ajfa-4025	382	3	of	of	ADP
ajfa-4025	382	4	risk	risk	NOUN
ajfa-4025	382	5	assets	asset	NOUN
ajfa-4025	382	6	and	and	CCONJ
ajfa-4025	382	7	the	the	DET
ajfa-4025	382	8	selection	selection	NOUN
ajfa-4025	382	9	of	of	ADP
ajfa-4025	382	10	risky	risky	ADJ
ajfa-4025	382	11	investments	investment	NOUN
ajfa-4025	382	12	in	in	ADP
ajfa-4025	382	13	stock	stock	NOUN
ajfa-4025	382	14	portfolios	portfolio	NOUN
ajfa-4025	382	15	and	and	CCONJ
ajfa-4025	382	16	capital	capital	NOUN
ajfa-4025	382	17	budgets	budget	NOUN
ajfa-4025	382	18	.	.	PUNCT
ajfa-4025	383	1	review	review	NOUN
ajfa-4025	383	2	of	of	ADP
ajfa-4025	383	3	economics	economic	NOUN
ajfa-4025	383	4	and	and	CCONJ
ajfa-4025	383	5	statistics	statistic	NOUN
ajfa-4025	383	6	,	,	PUNCT
ajfa-4025	383	7	47(1	47(1	NUM
ajfa-4025	383	8	)	)	PUNCT
ajfa-4025	383	9	,	,	PUNCT
ajfa-4025	383	10	13	13	NUM
ajfa-4025	383	11	-	-	SYM
ajfa-4025	383	12	37	37	NUM
ajfa-4025	383	13	.	.	PUNCT
ajfa-4025	384	1	http://dx.doi.org/10.2307/1924119	http://dx.doi.org/10.2307/1924119	PROPN
ajfa-4025	384	2	macdonald	macdonald	PROPN
ajfa-4025	384	3	,	,	PUNCT
ajfa-4025	384	4	r.	r.	PROPN
ajfa-4025	384	5	,	,	PUNCT
ajfa-4025	384	6	&	&	CCONJ
ajfa-4025	384	7	power	power	PROPN
ajfa-4025	384	8	,	,	PUNCT
ajfa-4025	384	9	d.m	d.m	PROPN
ajfa-4025	384	10	.	.	PUNCT
ajfa-4025	384	11	(	(	PUNCT
ajfa-4025	384	12	1993	1993	NUM
ajfa-4025	384	13	)	)	PUNCT
ajfa-4025	384	14	.	.	PUNCT
ajfa-4025	385	1	stock	stock	NOUN
ajfa-4025	385	2	prices	price	NOUN
ajfa-4025	385	3	,	,	PUNCT
ajfa-4025	385	4	efficiency	efficiency	NOUN
ajfa-4025	385	5	and	and	CCONJ
ajfa-4025	385	6	cointegration	cointegration	NOUN
ajfa-4025	385	7	:	:	PUNCT
ajfa-4025	385	8	the	the	DET
ajfa-4025	385	9	case	case	NOUN
ajfa-4025	385	10	of	of	ADP
ajfa-4025	385	11	uk	uk	PROPN
ajfa-4025	385	12	.	.	PROPN
ajfa-4025	385	13	international	international	PROPN
ajfa-4025	385	14	review	review	NOUN
ajfa-4025	385	15	of	of	ADP
ajfa-4025	385	16	economics	economic	NOUN
ajfa-4025	385	17	and	and	CCONJ
ajfa-4025	385	18	finance	finance	NOUN
ajfa-4025	385	19	,	,	PUNCT
ajfa-4025	385	20	2(3	2(3	NUM
ajfa-4025	385	21	)	)	PUNCT
ajfa-4025	385	22	,	,	PUNCT
ajfa-4025	385	23	251	251	NUM
ajfa-4025	385	24	-	-	SYM
ajfa-4025	385	25	265	265	NUM
ajfa-4025	385	26	.	.	PUNCT
ajfa-4025	386	1	http://dx.doi.org/10.1016/1059-0560(93)90003-9	http://dx.doi.org/10.1016/1059-0560(93)90003-9	VERB
ajfa-4025	386	2	macdonald	macdonald	PROPN
ajfa-4025	386	3	,	,	PUNCT
ajfa-4025	386	4	r.	r.	PROPN
ajfa-4025	386	5	,	,	PUNCT
ajfa-4025	386	6	&	&	CCONJ
ajfa-4025	386	7	power	power	PROPN
ajfa-4025	386	8	,	,	PUNCT
ajfa-4025	386	9	d.m	d.m	PROPN
ajfa-4025	386	10	.	.	PUNCT
ajfa-4025	386	11	(	(	PUNCT
ajfa-4025	386	12	1994	1994	NUM
ajfa-4025	386	13	)	)	PUNCT
ajfa-4025	386	14	.	.	PUNCT
ajfa-4025	387	1	an	an	DET
ajfa-4025	387	2	alternative	alternative	ADJ
ajfa-4025	387	3	test	test	NOUN
ajfa-4025	387	4	of	of	ADP
ajfa-4025	387	5	stock	stock	NOUN
ajfa-4025	387	6	market	market	NOUN
ajfa-4025	387	7	efficiency	efficiency	NOUN
ajfa-4025	387	8	:	:	PUNCT
ajfa-4025	387	9	an	an	DET
ajfa-4025	387	10	analysis	analysis	NOUN
ajfa-4025	387	11	of	of	ADP
ajfa-4025	387	12	uk	uk	PROPN
ajfa-4025	387	13	share	share	NOUN
ajfa-4025	387	14	price	price	NOUN
ajfa-4025	387	15	data	datum	NOUN
ajfa-4025	387	16	.	.	PUNCT
ajfa-4025	388	1	british	british	ADJ
ajfa-4025	388	2	review	review	PROPN
ajfa-4025	388	3	of	of	ADP
ajfa-4025	388	4	economic	economic	ADJ
ajfa-4025	388	5	issues	issue	NOUN
ajfa-4025	388	6	,	,	PUNCT
ajfa-4025	388	7	16(38	16(38	NUM
ajfa-4025	388	8	)	)	PUNCT
ajfa-4025	388	9	,	,	PUNCT
ajfa-4025	388	10	33	33	NUM
ajfa-4025	388	11	-	-	SYM
ajfa-4025	388	12	54	54	NUM
ajfa-4025	388	13	.	.	PUNCT
ajfa-4025	389	1	maghayereh	maghayereh	NOUN
ajfa-4025	389	2	,	,	PUNCT
ajfa-4025	389	3	a.	a.	NOUN
ajfa-4025	389	4	(	(	PUNCT
ajfa-4025	389	5	2002	2002	NUM
ajfa-4025	389	6	)	)	PUNCT
ajfa-4025	389	7	.	.	PUNCT
ajfa-4025	390	1	causal	causal	ADJ
ajfa-4025	390	2	relations	relation	NOUN
ajfa-4025	390	3	among	among	ADP
ajfa-4025	390	4	stock	stock	NOUN
ajfa-4025	390	5	prices	price	NOUN
ajfa-4025	390	6	and	and	CCONJ
ajfa-4025	390	7	macroeconomic	macroeconomic	ADJ
ajfa-4025	390	8	variables	variable	NOUN
ajfa-4025	390	9	in	in	ADP
ajfa-4025	390	10	the	the	DET
ajfa-4025	390	11	small	small	ADJ
ajfa-4025	390	12	,	,	PUNCT
ajfa-4025	390	13	open	open	ADJ
ajfa-4025	390	14	economy	economy	NOUN
ajfa-4025	390	15	of	of	ADP
ajfa-4025	390	16	jordan	jordan	PROPN
ajfa-4025	390	17	.	.	PUNCT
ajfa-4025	391	1	social	social	ADJ
ajfa-4025	391	2	science	science	PROPN
ajfa-4025	391	3	research	research	NOUN
ajfa-4025	391	4	network	network	NOUN
ajfa-4025	391	5	,	,	PUNCT
ajfa-4025	391	6	available	available	ADJ
ajfa-4025	391	7	at	at	ADP
ajfa-4025	391	8	ssrn	ssrn	PROPN
ajfa-4025	391	9	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=317539	http://papers.ssrn.com/sol3/papers.cfm?abstract_id=317539	PROPN
ajfa-4025	391	10	.	.	PUNCT
ajfa-4025	392	1	markowitz	markowitz	PROPN
ajfa-4025	392	2	,	,	PUNCT
ajfa-4025	392	3	h.m	h.m	PROPN
ajfa-4025	392	4	.	.	PROPN
ajfa-4025	392	5	(	(	PUNCT
ajfa-4025	392	6	1952	1952	NUM
ajfa-4025	392	7	)	)	PUNCT
ajfa-4025	392	8	.	.	PUNCT
ajfa-4025	393	1	portfolio	portfolio	NOUN
ajfa-4025	393	2	selection	selection	NOUN
ajfa-4025	393	3	.	.	PUNCT
ajfa-4025	394	1	journal	journal	PROPN
ajfa-4025	394	2	of	of	ADP
ajfa-4025	394	3	finance	finance	NOUN
ajfa-4025	394	4	,	,	PUNCT
ajfa-4025	394	5	7	7	NUM
ajfa-4025	394	6	,	,	PUNCT
ajfa-4025	394	7	77–91	77–91	NUM
ajfa-4025	394	8	.	.	PUNCT
ajfa-4025	395	1	maroney	maroney	PROPN
ajfa-4025	395	2	,	,	PUNCT
ajfa-4025	395	3	n.	n.	NOUN
ajfa-4025	395	4	,	,	PUNCT
ajfa-4025	395	5	&	&	CCONJ
ajfa-4025	395	6	protopapadakis	protopapadakis	PROPN
ajfa-4025	395	7	,	,	PUNCT
ajfa-4025	395	8	a.	a.	NOUN
ajfa-4025	395	9	(	(	PUNCT
ajfa-4025	395	10	2002	2002	NUM
ajfa-4025	395	11	)	)	PUNCT
ajfa-4025	395	12	.	.	PUNCT
ajfa-4025	396	1	the	the	DET
ajfa-4025	396	2	book	book	NOUN
ajfa-4025	396	3	-	-	PUNCT
ajfa-4025	396	4	to	to	ADP
ajfa-4025	396	5	-	-	PUNCT
ajfa-4025	396	6	market	market	NOUN
ajfa-4025	396	7	and	and	CCONJ
ajfa-4025	396	8	size	size	NOUN
ajfa-4025	396	9	effects	effect	NOUN
ajfa-4025	396	10	in	in	ADP
ajfa-4025	396	11	a	a	DET
ajfa-4025	396	12	general	general	ADJ
ajfa-4025	396	13	asset	asset	NOUN
ajfa-4025	396	14	pricing	pricing	NOUN
ajfa-4025	396	15	model	model	NOUN
ajfa-4025	396	16	:	:	PUNCT
ajfa-4025	396	17	evidence	evidence	NOUN
ajfa-4025	396	18	from	from	ADP
ajfa-4025	396	19	seven	seven	NUM
ajfa-4025	396	20	national	national	ADJ
ajfa-4025	396	21	markets	market	NOUN
ajfa-4025	396	22	.	.	PUNCT
ajfa-4025	397	1	european	european	ADJ
ajfa-4025	397	2	finance	finance	PROPN
ajfa-4025	397	3	review	review	PROPN
ajfa-4025	397	4	,	,	PUNCT
ajfa-4025	397	5	6	6	NUM
ajfa-4025	397	6	,	,	PUNCT
ajfa-4025	397	7	189	189	NUM
ajfa-4025	397	8	-	-	SYM
ajfa-4025	397	9	221	221	NUM
ajfa-4025	397	10	.	.	PUNCT
ajfa-4025	398	1	http://dx.doi.org/10.1023/a:1020188410677	http://dx.doi.org/10.1023/a:1020188410677	PROPN
ajfa-4025	398	2	maysami	maysami	PROPN
ajfa-4025	398	3	,	,	PUNCT
ajfa-4025	398	4	r.	r.	PROPN
ajfa-4025	398	5	c.	c.	PROPN
ajfa-4025	398	6	,	,	PUNCT
ajfa-4025	398	7	howe	howe	PROPN
ajfa-4025	398	8	,	,	PUNCT
ajfa-4025	398	9	l.	l.	PROPN
ajfa-4025	398	10	c.	c.	PROPN
ajfa-4025	398	11	,	,	PUNCT
ajfa-4025	398	12	&	&	CCONJ
ajfa-4025	398	13	hamzah	hamzah	PROPN
ajfa-4025	398	14	,	,	PUNCT
ajfa-4025	398	15	m.	m.	NOUN
ajfa-4025	398	16	a.	a.	PROPN
ajfa-4025	398	17	(	(	PUNCT
ajfa-4025	398	18	2004	2004	NUM
ajfa-4025	398	19	)	)	PUNCT
ajfa-4025	398	20	.	.	PUNCT
ajfa-4025	399	1	relationship	relationship	NOUN
ajfa-4025	399	2	between	between	ADP
ajfa-4025	399	3	macroeconomic	macroeconomic	ADJ
ajfa-4025	399	4	variables	variable	NOUN
ajfa-4025	399	5	and	and	CCONJ
ajfa-4025	399	6	stock	stock	NOUN
ajfa-4025	399	7	market	market	NOUN
ajfa-4025	399	8	indices	index	NOUN
ajfa-4025	399	9	:	:	PUNCT
ajfa-4025	399	10	cointegration	cointegration	NOUN
ajfa-4025	399	11	evidence	evidence	NOUN
ajfa-4025	399	12	from	from	ADP
ajfa-4025	399	13	stock	stock	NOUN
ajfa-4025	399	14	exchange	exchange	NOUN
ajfa-4025	399	15	of	of	ADP
ajfa-4025	399	16	singapore	singapore	PROPN
ajfa-4025	399	17	all	all	PROPN
ajfa-4025	399	18	-	-	PUNCT
ajfa-4025	399	19	s	s	PROPN
ajfa-4025	399	20	sector	sector	NOUN
ajfa-4025	399	21	indices	index	NOUN
ajfa-4025	399	22	.	.	PUNCT
ajfa-4025	400	1	jurnal	jurnal	ADJ
ajfa-4025	400	2	pengurusan	pengurusan	ADJ
ajfa-4025	400	3	24	24	NUM
ajfa-4025	400	4	,	,	PUNCT
ajfa-4025	400	5	47	47	NUM
ajfa-4025	400	6	-	-	SYM
ajfa-4025	400	7	77	77	NUM
ajfa-4025	400	8	.	.	PUNCT
ajfa-4025	401	1	asian	asian	ADJ
ajfa-4025	401	2	journal	journal	PROPN
ajfa-4025	401	3	of	of	ADP
ajfa-4025	401	4	finance	finance	PROPN
ajfa-4025	401	5	&	&	CCONJ
ajfa-4025	401	6	accounting	accounting	PROPN
ajfa-4025	401	7	issn	issn	PROPN
ajfa-4025	401	8	1946	1946	NUM
ajfa-4025	401	9	-	-	PUNCT
ajfa-4025	401	10	052x	052x	NOUN
ajfa-4025	401	11	2013	2013	NUM
ajfa-4025	401	12	,	,	PUNCT
ajfa-4025	401	13	vol	vol	NOUN
ajfa-4025	401	14	.	.	PROPN
ajfa-4025	401	15	5	5	NUM
ajfa-4025	401	16	,	,	PUNCT
ajfa-4025	401	17	no	no	INTJ
ajfa-4025	401	18	.	.	NOUN
ajfa-4025	401	19	2	2	NUM
ajfa-4025	401	20	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-4025	401	21	181	181	NUM
ajfa-4025	401	22	miller	miller	NOUN
ajfa-4025	401	23	,	,	PUNCT
ajfa-4025	401	24	m.	m.	PROPN
ajfa-4025	401	25	h.	h.	PROPN
ajfa-4025	401	26	,	,	PUNCT
ajfa-4025	401	27	&	&	CCONJ
ajfa-4025	401	28	modigliani	modigliani	PROPN
ajfa-4025	401	29	,	,	PUNCT
ajfa-4025	401	30	f.	f.	PROPN
ajfa-4025	401	31	(	(	PUNCT
ajfa-4025	401	32	1961	1961	NUM
ajfa-4025	401	33	)	)	PUNCT
ajfa-4025	401	34	.	.	PUNCT
ajfa-4025	402	1	dividend	dividend	NOUN
ajfa-4025	402	2	policy	policy	NOUN
ajfa-4025	402	3	,	,	PUNCT
ajfa-4025	402	4	growth	growth	NOUN
ajfa-4025	402	5	,	,	PUNCT
ajfa-4025	402	6	and	and	CCONJ
ajfa-4025	402	7	the	the	DET
ajfa-4025	402	8	valuation	valuation	NOUN
ajfa-4025	402	9	of	of	ADP
ajfa-4025	402	10	shares	share	NOUN
ajfa-4025	402	11	.	.	PUNCT
ajfa-4025	403	1	journal	journal	NOUN
ajfa-4025	403	2	of	of	ADP
ajfa-4025	403	3	business	business	NOUN
ajfa-4025	403	4	,	,	PUNCT
ajfa-4025	403	5	34	34	NUM
ajfa-4025	403	6	,	,	PUNCT
ajfa-4025	403	7	411–433	411–433	NUM
ajfa-4025	403	8	.	.	PUNCT
ajfa-4025	404	1	http://dx.doi.org/10.1086/294442	http://dx.doi.org/10.1086/294442	PROPN
ajfa-4025	404	2	mossin	mossin	PROPN
ajfa-4025	404	3	,	,	PUNCT
ajfa-4025	404	4	j.	j.	PROPN
ajfa-4025	404	5	(	(	PUNCT
ajfa-4025	404	6	1966	1966	NUM
ajfa-4025	404	7	)	)	PUNCT
ajfa-4025	404	8	.	.	PUNCT
ajfa-4025	405	1	equilibrium	equilibrium	NOUN
ajfa-4025	405	2	in	in	ADP
ajfa-4025	405	3	a	a	DET
ajfa-4025	405	4	capital	capital	NOUN
ajfa-4025	405	5	asset	asset	NOUN
ajfa-4025	405	6	market	market	NOUN
ajfa-4025	405	7	.	.	PUNCT
ajfa-4025	406	1	econometrica	econometrica	PROPN
ajfa-4025	406	2	,	,	PUNCT
ajfa-4025	406	3	34(4	34(4	NUM
ajfa-4025	406	4	)	)	PUNCT
ajfa-4025	406	5	,	,	PUNCT
ajfa-4025	406	6	768–783	768–783	NUM
ajfa-4025	406	7	.	.	PUNCT
ajfa-4025	407	1	http://dx.doi.org/10.2307/1910098	http://dx.doi.org/10.2307/1910098	PROPN
ajfa-4025	407	2	mukherjee	mukherjee	PROPN
ajfa-4025	407	3	,	,	PUNCT
ajfa-4025	407	4	t.k	t.k	PROPN
ajfa-4025	407	5	.	.	PROPN
ajfa-4025	407	6	,	,	PUNCT
ajfa-4025	407	7	&	&	CCONJ
ajfa-4025	407	8	naka	naka	PROPN
ajfa-4025	407	9	,	,	PUNCT
ajfa-4025	407	10	a.	a.	NOUN
ajfa-4025	407	11	(	(	PUNCT
ajfa-4025	407	12	1995	1995	NUM
ajfa-4025	407	13	)	)	PUNCT
ajfa-4025	407	14	.	.	PUNCT
ajfa-4025	408	1	dynamic	dynamic	ADJ
ajfa-4025	408	2	relations	relation	NOUN
ajfa-4025	408	3	between	between	ADP
ajfa-4025	408	4	macroeconomic	macroeconomic	ADJ
ajfa-4025	408	5	variables	variable	NOUN
ajfa-4025	408	6	and	and	CCONJ
ajfa-4025	408	7	the	the	DET
ajfa-4025	408	8	japanese	japanese	ADJ
ajfa-4025	408	9	stock	stock	NOUN
ajfa-4025	408	10	market	market	NOUN
ajfa-4025	408	11	:	:	PUNCT
ajfa-4025	408	12	an	an	DET
ajfa-4025	408	13	application	application	NOUN
ajfa-4025	408	14	of	of	ADP
ajfa-4025	408	15	a	a	DET
ajfa-4025	408	16	vector	vector	NOUN
ajfa-4025	408	17	error	error	NOUN
ajfa-4025	408	18	correction	correction	NOUN
ajfa-4025	408	19	model	model	NOUN
ajfa-4025	408	20	.	.	PUNCT
ajfa-4025	409	1	journal	journal	PROPN
ajfa-4025	409	2	of	of	ADP
ajfa-4025	409	3	financial	financial	ADJ
ajfa-4025	409	4	research	research	NOUN
ajfa-4025	409	5	,	,	PUNCT
ajfa-4025	409	6	18	18	NUM
ajfa-4025	409	7	,	,	PUNCT
ajfa-4025	409	8	223	223	NUM
ajfa-4025	409	9	-	-	SYM
ajfa-4025	409	10	237	237	NUM
ajfa-4025	409	11	.	.	PUNCT
ajfa-4025	410	1	nandha	nandha	NOUN
ajfa-4025	410	2	,	,	PUNCT
ajfa-4025	410	3	m.	m.	NOUN
ajfa-4025	410	4	,	,	PUNCT
ajfa-4025	410	5	&	&	CCONJ
ajfa-4025	410	6	hammoudeh	hammoudeh	PROPN
ajfa-4025	410	7	,	,	PUNCT
ajfa-4025	410	8	s.	s.	PROPN
ajfa-4025	410	9	(	(	PUNCT
ajfa-4025	410	10	2006	2006	NUM
ajfa-4025	410	11	)	)	PUNCT
ajfa-4025	410	12	.	.	PUNCT
ajfa-4025	411	1	systematic	systematic	ADJ
ajfa-4025	411	2	risk	risk	NOUN
ajfa-4025	411	3	,	,	PUNCT
ajfa-4025	411	4	and	and	CCONJ
ajfa-4025	411	5	oil	oil	NOUN
ajfa-4025	411	6	price	price	NOUN
ajfa-4025	411	7	and	and	CCONJ
ajfa-4025	411	8	exchange	exchange	NOUN
ajfa-4025	411	9	rate	rate	NOUN
ajfa-4025	411	10	sensitivities	sensitivity	NOUN
ajfa-4025	411	11	in	in	ADP
ajfa-4025	411	12	asia	asia	PROPN
ajfa-4025	411	13	-	-	PUNCT
ajfa-4025	411	14	pacific	pacific	ADJ
ajfa-4025	411	15	stock	stock	NOUN
ajfa-4025	411	16	markets	market	NOUN
ajfa-4025	411	17	.	.	PUNCT
ajfa-4025	412	1	research	research	NOUN
ajfa-4025	412	2	in	in	ADP
ajfa-4025	412	3	international	international	ADJ
ajfa-4025	412	4	business	business	NOUN
ajfa-4025	412	5	and	and	CCONJ
ajfa-4025	412	6	finance	finance	NOUN
ajfa-4025	412	7	,	,	PUNCT
ajfa-4025	412	8	22(1	22(1	NUM
ajfa-4025	412	9	)	)	PUNCT
ajfa-4025	412	10	,	,	PUNCT
ajfa-4025	412	11	22	22	NUM
ajfa-4025	412	12	-	-	SYM
ajfa-4025	412	13	24	24	NUM
ajfa-4025	412	14	.	.	PUNCT
ajfa-4025	412	15	narayan	narayan	PROPN
ajfa-4025	412	16	,	,	PUNCT
ajfa-4025	412	17	p.k	p.k	PROPN
ajfa-4025	412	18	.	.	PROPN
ajfa-4025	412	19	,	,	PUNCT
ajfa-4025	412	20	&	&	CCONJ
ajfa-4025	412	21	sharma	sharma	PROPN
ajfa-4025	412	22	,	,	PUNCT
ajfa-4025	412	23	s.	s.	PROPN
ajfa-4025	412	24	(	(	PUNCT
ajfa-4025	412	25	2011	2011	NUM
ajfa-4025	412	26	)	)	PUNCT
ajfa-4025	412	27	.	.	PUNCT
ajfa-4025	413	1	new	new	ADJ
ajfa-4025	413	2	evidence	evidence	NOUN
ajfa-4025	413	3	on	on	ADP
ajfa-4025	413	4	oil	oil	NOUN
ajfa-4025	413	5	price	price	NOUN
ajfa-4025	413	6	and	and	CCONJ
ajfa-4025	413	7	firm	firm	ADJ
ajfa-4025	413	8	returns	return	NOUN
ajfa-4025	413	9	.	.	PUNCT
ajfa-4025	414	1	journal	journal	NOUN
ajfa-4025	414	2	of	of	ADP
ajfa-4025	414	3	banking	banking	NOUN
ajfa-4025	414	4	and	and	CCONJ
ajfa-4025	414	5	finance	finance	NOUN
ajfa-4025	414	6	,	,	PUNCT
ajfa-4025	414	7	35	35	NUM
ajfa-4025	414	8	,	,	PUNCT
ajfa-4025	414	9	3253	3253	NUM
ajfa-4025	414	10	-	-	SYM
ajfa-4025	414	11	3262	3262	NUM
ajfa-4025	414	12	http://dx.doi.org/10.1016/j.jbankfin.2011.05.010	http://dx.doi.org/10.1016/j.jbankfin.2011.05.010	PROPN
ajfa-4025	414	13	nishat	nishat	PROPN
ajfa-4025	414	14	,	,	PUNCT
ajfa-4025	414	15	m.	m.	NOUN
ajfa-4025	414	16	,	,	PUNCT
ajfa-4025	414	17	&	&	CCONJ
ajfa-4025	414	18	shaheen	shaheen	PROPN
ajfa-4025	414	19	,	,	PUNCT
ajfa-4025	414	20	r.	r.	PROPN
ajfa-4025	414	21	(	(	PUNCT
ajfa-4025	414	22	2004	2004	NUM
ajfa-4025	414	23	)	)	PUNCT
ajfa-4025	414	24	.	.	PUNCT
ajfa-4025	415	1	macroeconomic	macroeconomic	ADJ
ajfa-4025	415	2	factors	factor	NOUN
ajfa-4025	415	3	and	and	CCONJ
ajfa-4025	415	4	pakistani	pakistani	ADJ
ajfa-4025	415	5	equity	equity	NOUN
ajfa-4025	415	6	market	market	NOUN
ajfa-4025	415	7	.	.	PUNCT
ajfa-4025	416	1	the	the	DET
ajfa-4025	416	2	pakistan	pakistan	PROPN
ajfa-4025	416	3	development	development	PROPN
ajfa-4025	416	4	review	review	PROPN
ajfa-4025	416	5	,	,	PUNCT
ajfa-4025	416	6	43(4	43(4	NOUN
ajfa-4025	416	7	)	)	PUNCT
ajfa-4025	416	8	,	,	PUNCT
ajfa-4025	416	9	619	619	NUM
ajfa-4025	416	10	-	-	SYM
ajfa-4025	416	11	637	637	NUM
ajfa-4025	416	12	.	.	PUNCT
ajfa-4025	417	1	park	park	PROPN
ajfa-4025	417	2	,	,	PUNCT
ajfa-4025	417	3	j.	j.	PROPN
ajfa-4025	417	4	,	,	PUNCT
ajfa-4025	417	5	&	&	CCONJ
ajfa-4025	417	6	ratti	ratti	PROPN
ajfa-4025	417	7	,	,	PUNCT
ajfa-4025	417	8	r.a	r.a	PROPN
ajfa-4025	417	9	.	.	PROPN
ajfa-4025	417	10	(	(	PUNCT
ajfa-4025	417	11	2008	2008	NUM
ajfa-4025	417	12	)	)	PUNCT
ajfa-4025	417	13	.	.	PUNCT
ajfa-4025	418	1	oil	oil	NOUN
ajfa-4025	418	2	price	price	NOUN
ajfa-4025	418	3	shocks	shock	NOUN
ajfa-4025	418	4	and	and	CCONJ
ajfa-4025	418	5	stock	stock	NOUN
ajfa-4025	418	6	markets	market	NOUN
ajfa-4025	418	7	in	in	ADP
ajfa-4025	418	8	the	the	DET
ajfa-4025	418	9	u.s	u.s	PROPN
ajfa-4025	418	10	.	.	PROPN
ajfa-4025	418	11	and	and	CCONJ
ajfa-4025	418	12	13	13	NUM
ajfa-4025	418	13	european	european	ADJ
ajfa-4025	418	14	countries	country	NOUN
ajfa-4025	418	15	.	.	PUNCT
ajfa-4025	419	1	energy	energy	NOUN
ajfa-4025	419	2	economics	economic	NOUN
ajfa-4025	419	3	,	,	PUNCT
ajfa-4025	419	4	30	30	NUM
ajfa-4025	419	5	,	,	PUNCT
ajfa-4025	419	6	2587	2587	NUM
ajfa-4025	419	7	-	-	SYM
ajfa-4025	419	8	608	608	NUM
ajfa-4025	419	9	.	.	PUNCT
ajfa-4025	420	1	http://dx.doi.org/10.1016/j.eneco.2008.04.003	http://dx.doi.org/10.1016/j.eneco.2008.04.003	PROPN
ajfa-4025	420	2	plosser	plosser	PROPN
ajfa-4025	420	3	,	,	PUNCT
ajfa-4025	420	4	c.	c.	PROPN
ajfa-4025	420	5	,	,	PUNCT
ajfa-4025	420	6	&	&	CCONJ
ajfa-4025	420	7	rouwenhorst	rouwenhorst	PROPN
ajfa-4025	420	8	,	,	PUNCT
ajfa-4025	420	9	g.	g.	PROPN
ajfa-4025	420	10	(	(	PUNCT
ajfa-4025	420	11	1994	1994	NUM
ajfa-4025	420	12	)	)	PUNCT
ajfa-4025	420	13	.	.	PUNCT
ajfa-4025	421	1	international	international	ADJ
ajfa-4025	421	2	term	term	NOUN
ajfa-4025	421	3	structure	structure	NOUN
ajfa-4025	421	4	and	and	CCONJ
ajfa-4025	421	5	real	real	ADJ
ajfa-4025	421	6	economic	economic	ADJ
ajfa-4025	421	7	growth	growth	NOUN
ajfa-4025	421	8	.	.	PUNCT
ajfa-4025	422	1	journal	journal	NOUN
ajfa-4025	422	2	of	of	ADP
ajfa-4025	422	3	monetary	monetary	ADJ
ajfa-4025	422	4	economics	economic	NOUN
ajfa-4025	422	5	,	,	PUNCT
ajfa-4025	422	6	33	33	NUM
ajfa-4025	422	7	,	,	PUNCT
ajfa-4025	422	8	133–155	133–155	NUM
ajfa-4025	422	9	.	.	PUNCT
ajfa-4025	423	1	http://dx.doi.org/10.1016/0304-3932(94)90017-5	http://dx.doi.org/10.1016/0304-3932(94)90017-5	PROPN
ajfa-4025	423	2	priestley	priestley	PROPN
ajfa-4025	423	3	,	,	PUNCT
ajfa-4025	423	4	r.	r.	PROPN
ajfa-4025	423	5	(	(	PUNCT
ajfa-4025	423	6	1996	1996	NUM
ajfa-4025	423	7	)	)	PUNCT
ajfa-4025	423	8	.	.	PUNCT
ajfa-4025	424	1	the	the	DET
ajfa-4025	424	2	arbitrage	arbitrage	NOUN
ajfa-4025	424	3	pricing	pricing	NOUN
ajfa-4025	424	4	theory	theory	NOUN
ajfa-4025	424	5	,	,	PUNCT
ajfa-4025	424	6	macroeconomic	macroeconomic	ADJ
ajfa-4025	424	7	and	and	CCONJ
ajfa-4025	424	8	financial	financial	ADJ
ajfa-4025	424	9	factors	factor	NOUN
ajfa-4025	424	10	,	,	PUNCT
ajfa-4025	424	11	and	and	CCONJ
ajfa-4025	424	12	expectations	expectation	NOUN
ajfa-4025	424	13	generating	generating	NOUN
ajfa-4025	424	14	processes	process	NOUN
ajfa-4025	424	15	.	.	PUNCT
ajfa-4025	425	1	journal	journal	NOUN
ajfa-4025	425	2	of	of	ADP
ajfa-4025	425	3	banking	banking	NOUN
ajfa-4025	425	4	and	and	CCONJ
ajfa-4025	425	5	finance	finance	NOUN
ajfa-4025	425	6	,	,	PUNCT
ajfa-4025	425	7	20(5	20(5	NUM
ajfa-4025	425	8	)	)	PUNCT
ajfa-4025	425	9	,	,	PUNCT
ajfa-4025	425	10	869	869	NUM
ajfa-4025	425	11	-	-	SYM
ajfa-4025	425	12	890	890	NUM
ajfa-4025	425	13	.	.	PUNCT
ajfa-4025	426	1	http://dx.doi.org/10.1016/0378-4266(95)00035-6	http://dx.doi.org/10.1016/0378-4266(95)00035-6	PROPN
ajfa-4025	426	2	rahman	rahman	PROPN
ajfa-4025	426	3	,	,	PUNCT
ajfa-4025	426	4	a.	a.	NOUN
ajfa-4025	426	5	a.	a.	PROPN
ajfa-4025	426	6	,	,	PUNCT
ajfa-4025	426	7	sidek	sidek	PROPN
ajfa-4025	426	8	,	,	PUNCT
ajfa-4025	426	9	n.z	n.z	PROPN
ajfa-4025	426	10	.	.	PROPN
ajfa-4025	426	11	,	,	PUNCT
ajfa-4025	426	12	&	&	CCONJ
ajfa-4025	426	13	tafri	tafri	PROPN
ajfa-4025	426	14	,	,	PUNCT
ajfa-4025	426	15	f.h	f.h	PROPN
ajfa-4025	426	16	.	.	PROPN
ajfa-4025	426	17	(	(	PUNCT
ajfa-4025	426	18	2009	2009	NUM
ajfa-4025	426	19	)	)	PUNCT
ajfa-4025	426	20	.	.	PUNCT
ajfa-4025	427	1	macroeconomic	macroeconomic	ADJ
ajfa-4025	427	2	determinants	determinant	NOUN
ajfa-4025	427	3	of	of	ADP
ajfa-4025	427	4	malaysian	malaysian	ADJ
ajfa-4025	427	5	stock	stock	NOUN
ajfa-4025	427	6	market	market	NOUN
ajfa-4025	427	7	.	.	PUNCT
ajfa-4025	428	1	african	african	ADJ
ajfa-4025	428	2	journal	journal	PROPN
ajfa-4025	428	3	of	of	ADP
ajfa-4025	428	4	business	business	NOUN
ajfa-4025	428	5	management	management	NOUN
ajfa-4025	428	6	,	,	PUNCT
ajfa-4025	428	7	3(3	3(3	NUM
ajfa-4025	428	8	)	)	PUNCT
ajfa-4025	428	9	,	,	PUNCT
ajfa-4025	428	10	95	95	NUM
ajfa-4025	428	11	-	-	SYM
ajfa-4025	428	12	106	106	NUM
ajfa-4025	428	13	.	.	PUNCT
ajfa-4025	429	1	ratanapakorn	ratanapakorn	ADJ
ajfa-4025	429	2	,	,	PUNCT
ajfa-4025	429	3	o.	o.	PROPN
ajfa-4025	429	4	,	,	PUNCT
ajfa-4025	429	5	&	&	CCONJ
ajfa-4025	429	6	sharma	sharma	PROPN
ajfa-4025	429	7	,	,	PUNCT
ajfa-4025	429	8	s	s	PART
ajfa-4025	429	9	(	(	PUNCT
ajfa-4025	429	10	2007	2007	NUM
ajfa-4025	429	11	)	)	PUNCT
ajfa-4025	429	12	.	.	PUNCT
ajfa-4025	430	1	dynamic	dynamic	ADJ
ajfa-4025	430	2	analysis	analysis	NOUN
ajfa-4025	430	3	between	between	ADP
ajfa-4025	430	4	the	the	DET
ajfa-4025	430	5	us	us	PROPN
ajfa-4025	430	6	stock	stock	NOUN
ajfa-4025	430	7	returns	return	NOUN
ajfa-4025	430	8	and	and	CCONJ
ajfa-4025	430	9	the	the	DET
ajfa-4025	430	10	macroeconomic	macroeconomic	ADJ
ajfa-4025	430	11	variables	variable	NOUN
ajfa-4025	430	12	.	.	PUNCT
ajfa-4025	431	1	applied	apply	VERB
ajfa-4025	431	2	financial	financial	ADJ
ajfa-4025	431	3	economics	economic	NOUN
ajfa-4025	431	4	,	,	PUNCT
ajfa-4025	431	5	17(5	17(5	NUM
ajfa-4025	431	6	)	)	PUNCT
ajfa-4025	431	7	,	,	PUNCT
ajfa-4025	431	8	69	69	NUM
ajfa-4025	431	9	-	-	SYM
ajfa-4025	431	10	377	377	NUM
ajfa-4025	431	11	.	.	PUNCT
ajfa-4025	432	1	http://dx.doi.org/10.1080/09603100600638944	http://dx.doi.org/10.1080/09603100600638944	PROPN
ajfa-4025	432	2	reinganum	reinganum	PROPN
ajfa-4025	432	3	,	,	PUNCT
ajfa-4025	432	4	m.	m.	NOUN
ajfa-4025	432	5	(	(	PUNCT
ajfa-4025	432	6	1981	1981	NUM
ajfa-4025	432	7	)	)	PUNCT
ajfa-4025	432	8	.	.	PUNCT
ajfa-4025	433	1	a	a	DET
ajfa-4025	433	2	misspecification	misspecification	NOUN
ajfa-4025	433	3	of	of	ADP
ajfa-4025	433	4	capital	capital	NOUN
ajfa-4025	433	5	asset	asset	NOUN
ajfa-4025	433	6	pricing	pricing	NOUN
ajfa-4025	433	7	:	:	PUNCT
ajfa-4025	433	8	empirical	empirical	ADJ
ajfa-4025	433	9	anomalies	anomaly	NOUN
ajfa-4025	433	10	based	base	VERB
ajfa-4025	433	11	on	on	ADP
ajfa-4025	433	12	earnings	earning	NOUN
ajfa-4025	433	13	yields	yield	NOUN
ajfa-4025	433	14	and	and	CCONJ
ajfa-4025	433	15	market	market	NOUN
ajfa-4025	433	16	values	value	NOUN
ajfa-4025	433	17	.	.	PUNCT
ajfa-4025	434	1	journal	journal	NOUN
ajfa-4025	434	2	of	of	ADP
ajfa-4025	434	3	financial	financial	ADJ
ajfa-4025	434	4	economics	economic	NOUN
ajfa-4025	434	5	,	,	PUNCT
ajfa-4025	434	6	9	9	NUM
ajfa-4025	434	7	,	,	PUNCT
ajfa-4025	434	8	19	19	NUM
ajfa-4025	434	9	-	-	SYM
ajfa-4025	434	10	46	46	NUM
ajfa-4025	434	11	.	.	PUNCT
ajfa-4025	435	1	http://dx.doi.org/10.1016/0304-405x(81)90019-2	http://dx.doi.org/10.1016/0304-405x(81)90019-2	NOUN
ajfa-4025	435	2	reinganum	reinganum	NOUN
ajfa-4025	435	3	,	,	PUNCT
ajfa-4025	435	4	m.	m.	NOUN
ajfa-4025	435	5	(	(	PUNCT
ajfa-4025	435	6	1992	1992	NUM
ajfa-4025	435	7	)	)	PUNCT
ajfa-4025	435	8	.	.	PUNCT
ajfa-4025	436	1	a	a	DET
ajfa-4025	436	2	revival	revival	NOUN
ajfa-4025	436	3	of	of	ADP
ajfa-4025	436	4	the	the	DET
ajfa-4025	436	5	small	small	ADJ
ajfa-4025	436	6	-	-	PUNCT
ajfa-4025	436	7	firm	firm	ADJ
ajfa-4025	436	8	effect	effect	NOUN
ajfa-4025	436	9	.	.	PUNCT
ajfa-4025	437	1	journal	journal	NOUN
ajfa-4025	437	2	of	of	ADP
ajfa-4025	437	3	portfolio	portfolio	PROPN
ajfa-4025	437	4	management	management	NOUN
ajfa-4025	437	5	,	,	PUNCT
ajfa-4025	437	6	18	18	NUM
ajfa-4025	437	7	,	,	PUNCT
ajfa-4025	437	8	55	55	NUM
ajfa-4025	437	9	-	-	SYM
ajfa-4025	437	10	62	62	NUM
ajfa-4025	437	11	.	.	PUNCT
ajfa-4025	438	1	http://dx.doi.org/10.3905/jpm.1992.409404	http://dx.doi.org/10.3905/jpm.1992.409404	PROPN
ajfa-4025	438	2	rosenberg	rosenberg	PROPN
ajfa-4025	438	3	,	,	PUNCT
ajfa-4025	438	4	b.	b.	PROPN
ajfa-4025	438	5	,	,	PUNCT
ajfa-4025	438	6	reid	reid	PROPN
ajfa-4025	438	7	,	,	PUNCT
ajfa-4025	438	8	k.	k.	PROPN
ajfa-4025	438	9	,	,	PUNCT
ajfa-4025	438	10	&	&	CCONJ
ajfa-4025	438	11	lanstein	lanstein	PROPN
ajfa-4025	438	12	r.	r.	PROPN
ajfa-4025	438	13	(	(	PUNCT
ajfa-4025	438	14	1985	1985	NUM
ajfa-4025	438	15	)	)	PUNCT
ajfa-4025	438	16	.	.	PUNCT
ajfa-4025	439	1	persuasive	persuasive	ADJ
ajfa-4025	439	2	evidence	evidence	NOUN
ajfa-4025	439	3	of	of	ADP
ajfa-4025	439	4	market	market	NOUN
ajfa-4025	439	5	inefficiency	inefficiency	NOUN
ajfa-4025	439	6	.	.	PUNCT
ajfa-4025	440	1	journal	journal	NOUN
ajfa-4025	440	2	of	of	ADP
ajfa-4025	440	3	portfolio	portfolio	NOUN
ajfa-4025	440	4	management	management	NOUN
ajfa-4025	440	5	,	,	PUNCT
ajfa-4025	440	6	11	11	NUM
ajfa-4025	440	7	,	,	PUNCT
ajfa-4025	440	8	9	9	NUM
ajfa-4025	440	9	-	-	SYM
ajfa-4025	440	10	17	17	NUM
ajfa-4025	440	11	.	.	PUNCT
ajfa-4025	441	1	http://dx.doi.org/10.3905/jpm.1985.409007	http://dx.doi.org/10.3905/jpm.1985.409007	PROPN
ajfa-4025	441	2	ross	ross	PROPN
ajfa-4025	441	3	,	,	PUNCT
ajfa-4025	441	4	s.	s.	PROPN
ajfa-4025	441	5	(	(	PUNCT
ajfa-4025	441	6	1976	1976	NUM
ajfa-4025	441	7	)	)	PUNCT
ajfa-4025	441	8	.	.	PUNCT
ajfa-4025	442	1	the	the	DET
ajfa-4025	442	2	arbitrage	arbitrage	NOUN
ajfa-4025	442	3	theory	theory	NOUN
ajfa-4025	442	4	of	of	ADP
ajfa-4025	442	5	capital	capital	NOUN
ajfa-4025	442	6	asset	asset	NOUN
ajfa-4025	442	7	pricing	pricing	NOUN
ajfa-4025	442	8	.	.	PUNCT
ajfa-4025	443	1	journal	journal	NOUN
ajfa-4025	443	2	of	of	ADP
ajfa-4025	443	3	economic	economic	ADJ
ajfa-4025	443	4	theory	theory	NOUN
ajfa-4025	443	5	,	,	PUNCT
ajfa-4025	443	6	asian	asian	ADJ
ajfa-4025	443	7	journal	journal	NOUN
ajfa-4025	443	8	of	of	ADP
ajfa-4025	443	9	finance	finance	PROPN
ajfa-4025	443	10	&	&	CCONJ
ajfa-4025	443	11	accounting	accounting	PROPN
ajfa-4025	443	12	issn	issn	PROPN
ajfa-4025	443	13	1946	1946	NUM
ajfa-4025	443	14	-	-	PUNCT
ajfa-4025	443	15	052x	052x	NOUN
ajfa-4025	443	16	2013	2013	NUM
ajfa-4025	443	17	,	,	PUNCT
ajfa-4025	443	18	vol	vol	NOUN
ajfa-4025	443	19	.	.	PROPN
ajfa-4025	443	20	5	5	NUM
ajfa-4025	443	21	,	,	PUNCT
ajfa-4025	443	22	no	no	INTJ
ajfa-4025	443	23	.	.	NOUN
ajfa-4025	443	24	2	2	NUM
ajfa-4025	443	25	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-4025	443	26	182	182	NUM
ajfa-4025	443	27	13(3	13(3	NUM
ajfa-4025	443	28	)	)	PUNCT
ajfa-4025	443	29	,	,	PUNCT
ajfa-4025	443	30	341–360	341–360	NUM
ajfa-4025	443	31	.	.	PUNCT
ajfa-4025	444	1	http://dx.doi.org/10.1016/0022-0531(76)90046-6	http://dx.doi.org/10.1016/0022-0531(76)90046-6	PROPN
ajfa-4025	444	2	sharpe	sharpe	PROPN
ajfa-4025	444	3	,	,	PUNCT
ajfa-4025	444	4	w.	w.	PROPN
ajfa-4025	444	5	f.	f.	PROPN
ajfa-4025	444	6	(	(	PUNCT
ajfa-4025	444	7	1964	1964	NUM
ajfa-4025	444	8	)	)	PUNCT
ajfa-4025	444	9	.	.	PUNCT
ajfa-4025	445	1	capital	capital	NOUN
ajfa-4025	445	2	asset	asset	NOUN
ajfa-4025	445	3	prices	price	NOUN
ajfa-4025	445	4	:	:	PUNCT
ajfa-4025	445	5	a	a	DET
ajfa-4025	445	6	theory	theory	NOUN
ajfa-4025	445	7	of	of	ADP
ajfa-4025	445	8	market	market	NOUN
ajfa-4025	445	9	equilibrium	equilibrium	NOUN
ajfa-4025	445	10	under	under	ADP
ajfa-4025	445	11	conditions	condition	NOUN
ajfa-4025	445	12	of	of	ADP
ajfa-4025	445	13	risk	risk	NOUN
ajfa-4025	445	14	.	.	PUNCT
ajfa-4025	446	1	journal	journal	NOUN
ajfa-4025	446	2	of	of	ADP
ajfa-4025	446	3	finance	finance	NOUN
ajfa-4025	446	4	,	,	PUNCT
ajfa-4025	446	5	19	19	NUM
ajfa-4025	446	6	,	,	PUNCT
ajfa-4025	446	7	425	425	NUM
ajfa-4025	446	8	-	-	SYM
ajfa-4025	446	9	442	442	NUM
ajfa-4025	446	10	.	.	PUNCT
ajfa-4025	447	1	simlai	simlai	NOUN
ajfa-4025	447	2	,	,	PUNCT
ajfa-4025	447	3	p.	p.	NOUN
ajfa-4025	447	4	(	(	PUNCT
ajfa-4025	447	5	2009	2009	NUM
ajfa-4025	447	6	)	)	PUNCT
ajfa-4025	447	7	.	.	PUNCT
ajfa-4025	448	1	stock	stock	NOUN
ajfa-4025	448	2	returns	return	NOUN
ajfa-4025	448	3	,	,	PUNCT
ajfa-4025	448	4	size	size	NOUN
ajfa-4025	448	5	,	,	PUNCT
ajfa-4025	448	6	and	and	CCONJ
ajfa-4025	448	7	book	book	NOUN
ajfa-4025	448	8	-	-	PUNCT
ajfa-4025	448	9	to	to	ADP
ajfa-4025	448	10	-	-	PUNCT
ajfa-4025	448	11	market	market	NOUN
ajfa-4025	448	12	equity	equity	NOUN
ajfa-4025	448	13	.	.	PUNCT
ajfa-4025	449	1	studies	study	NOUN
ajfa-4025	449	2	in	in	ADP
ajfa-4025	449	3	economics	economic	NOUN
ajfa-4025	449	4	and	and	CCONJ
ajfa-4025	449	5	finance	finance	NOUN
ajfa-4025	449	6	,	,	PUNCT
ajfa-4025	449	7	26(3	26(3	NUM
ajfa-4025	449	8	)	)	PUNCT
ajfa-4025	449	9	,	,	PUNCT
ajfa-4025	449	10	198	198	NUM
ajfa-4025	449	11	-	-	SYM
ajfa-4025	449	12	212	212	NUM
ajfa-4025	449	13	.	.	PUNCT
ajfa-4025	450	1	http://dx.doi.org/10.1108/10867370910974026	http://dx.doi.org/10.1108/10867370910974026	PROPN
ajfa-4025	450	2	singh	singh	PROPN
ajfa-4025	450	3	,	,	PUNCT
ajfa-4025	450	4	t.	t.	PROPN
ajfa-4025	450	5	s.	s.	PROPN
ajfa-4025	450	6	,	,	PUNCT
ajfa-4025	450	7	mehta	mehta	PROPN
ajfa-4025	450	8	,	,	PUNCT
ajfa-4025	450	9	&	&	CCONJ
ajfa-4025	450	10	varsha	varsha	PROPN
ajfa-4025	450	11	,	,	PUNCT
ajfa-4025	450	12	m.	m.	NOUN
ajfa-4025	450	13	s.	s.	PROPN
ajfa-4025	450	14	(	(	PUNCT
ajfa-4025	450	15	2011	2011	NUM
ajfa-4025	450	16	)	)	PUNCT
ajfa-4025	450	17	.	.	PUNCT
ajfa-4025	451	1	macroeconomic	macroeconomic	ADJ
ajfa-4025	451	2	factors	factor	NOUN
ajfa-4025	451	3	and	and	CCONJ
ajfa-4025	451	4	stock	stock	NOUN
ajfa-4025	451	5	returns	return	NOUN
ajfa-4025	451	6	:	:	PUNCT
ajfa-4025	451	7	evidence	evidence	NOUN
ajfa-4025	451	8	from	from	ADP
ajfa-4025	451	9	taiwan	taiwan	PROPN
ajfa-4025	451	10	.	.	PUNCT
ajfa-4025	452	1	journal	journal	PROPN
ajfa-4025	452	2	of	of	ADP
ajfa-4025	452	3	economics	economic	NOUN
ajfa-4025	452	4	and	and	CCONJ
ajfa-4025	452	5	international	international	ADJ
ajfa-4025	452	6	finance	finance	NOUN
ajfa-4025	452	7	,	,	PUNCT
ajfa-4025	452	8	2	2	NUM
ajfa-4025	452	9	,	,	PUNCT
ajfa-4025	452	10	217	217	NUM
ajfa-4025	452	11	-	-	SYM
ajfa-4025	452	12	227	227	NUM
ajfa-4025	452	13	.	.	PUNCT
ajfa-4025	453	1	sudhahar	sudhahar	PROPN
ajfa-4025	453	2	,	,	PUNCT
ajfa-4025	453	3	j.	j.	PROPN
ajfa-4025	453	4	c.	c.	PROPN
ajfa-4025	453	5	,	,	PUNCT
ajfa-4025	453	6	&	&	CCONJ
ajfa-4025	453	7	raja	raja	PROPN
ajfa-4025	453	8	,	,	PUNCT
ajfa-4025	453	9	m.	m.	NOUN
ajfa-4025	453	10	(	(	PUNCT
ajfa-4025	453	11	2010	2010	NUM
ajfa-4025	453	12	)	)	PUNCT
ajfa-4025	453	13	.	.	PUNCT
ajfa-4025	454	1	an	an	DET
ajfa-4025	454	2	empirical	empirical	ADJ
ajfa-4025	454	3	assessment	assessment	NOUN
ajfa-4025	454	4	of	of	ADP
ajfa-4025	454	5	indian	indian	ADJ
ajfa-4025	454	6	stock	stock	NOUN
ajfa-4025	454	7	market	market	NOUN
ajfa-4025	454	8	efficiency	efficiency	NOUN
ajfa-4025	454	9	.	.	PUNCT
ajfa-4025	455	1	karunya	karunya	PROPN
ajfa-4025	455	2	journal	journal	PROPN
ajfa-4025	455	3	of	of	ADP
ajfa-4025	455	4	research	research	NOUN
ajfa-4025	455	5	,	,	PUNCT
ajfa-4025	455	6	2(1	2(1	NUM
ajfa-4025	455	7	)	)	PUNCT
ajfa-4025	455	8	,	,	PUNCT
ajfa-4025	455	9	100	100	NUM
ajfa-4025	455	10	-	-	SYM
ajfa-4025	455	11	112	112	NUM
ajfa-4025	455	12	.	.	PUNCT
ajfa-4025	456	1	tangjitprom	tangjitprom	NOUN
ajfa-4025	456	2	,	,	PUNCT
ajfa-4025	456	3	n.	n.	PROPN
ajfa-4025	456	4	(	(	PUNCT
ajfa-4025	456	5	2011	2011	NUM
ajfa-4025	456	6	)	)	PUNCT
ajfa-4025	456	7	.	.	PUNCT
ajfa-4025	457	1	macroeconomic	macroeconomic	ADJ
ajfa-4025	457	2	factors	factor	NOUN
ajfa-4025	457	3	of	of	ADP
ajfa-4025	457	4	emerging	emerge	VERB
ajfa-4025	457	5	stock	stock	NOUN
ajfa-4025	457	6	market	market	NOUN
ajfa-4025	457	7	:	:	PUNCT
ajfa-4025	457	8	the	the	DET
ajfa-4025	457	9	evidence	evidence	NOUN
ajfa-4025	457	10	from	from	ADP
ajfa-4025	457	11	thailand	thailand	PROPN
ajfa-4025	457	12	.	.	PUNCT
ajfa-4025	458	1	social	social	ADJ
ajfa-4025	458	2	science	science	PROPN
ajfa-4025	458	3	research	research	NOUN
ajfa-4025	458	4	network	network	NOUN
ajfa-4025	458	5	,	,	PUNCT
ajfa-4025	458	6	available	available	ADJ
ajfa-4025	458	7	at	at	ADP
ajfa-4025	458	8	ssrn	ssrn	PROPN
ajfa-4025	458	9	http://ssrn.com/abstract=1957697	http://ssrn.com/abstract=1957697	PROPN
ajfa-4025	458	10	.	.	PUNCT
ajfa-4025	458	11	truong	truong	PROPN
ajfa-4025	458	12	,	,	PUNCT
ajfa-4025	458	13	h.	h.	PROPN
ajfa-4025	458	14	a.	a.	PROPN
ajfa-4025	458	15	(	(	PUNCT
ajfa-4025	458	16	2009	2009	NUM
ajfa-4025	458	17	)	)	PUNCT
ajfa-4025	458	18	.	.	PUNCT
ajfa-4025	459	1	value	value	NOUN
ajfa-4025	459	2	investing	invest	VERB
ajfa-4025	459	3	using	use	VERB
ajfa-4025	459	4	price	price	NOUN
ajfa-4025	459	5	-	-	PUNCT
ajfa-4025	459	6	earnings	earning	NOUN
ajfa-4025	459	7	ratio	ratio	NOUN
ajfa-4025	459	8	in	in	ADP
ajfa-4025	459	9	new	new	PROPN
ajfa-4025	459	10	zealand	zealand	PROPN
ajfa-4025	459	11	.	.	PUNCT
ajfa-4025	460	1	university	university	PROPN
ajfa-4025	460	2	of	of	ADP
ajfa-4025	460	3	auckland	auckland	PROPN
ajfa-4025	460	4	business	business	PROPN
ajfa-4025	460	5	review	review	PROPN
ajfa-4025	460	6	,	,	PUNCT
ajfa-4025	460	7	11(1	11(1	NUM
ajfa-4025	460	8	)	)	PUNCT
ajfa-4025	460	9	,	,	PUNCT
ajfa-4025	460	10	1	1	NUM
ajfa-4025	460	11	-	-	SYM
ajfa-4025	460	12	7	7	NUM
ajfa-4025	460	13	.	.	PUNCT
ajfa-4025	460	14	williams	williams	PROPN
ajfa-4025	460	15	,	,	PUNCT
ajfa-4025	460	16	j.	j.	PROPN
ajfa-4025	460	17	b.	b.	PROPN
ajfa-4025	460	18	(	(	PUNCT
ajfa-4025	460	19	1938	1938	NUM
ajfa-4025	460	20	)	)	PUNCT
ajfa-4025	460	21	.	.	PUNCT
ajfa-4025	461	1	the	the	DET
ajfa-4025	461	2	theory	theory	NOUN
ajfa-4025	461	3	of	of	ADP
ajfa-4025	461	4	investment	investment	NOUN
ajfa-4025	461	5	value	value	NOUN
ajfa-4025	461	6	.	.	PUNCT
ajfa-4025	462	1	north	north	NOUN
ajfa-4025	462	2	holland	holland	PROPN
ajfa-4025	462	3	publishing	publishing	PROPN
ajfa-4025	462	4	,	,	PUNCT
ajfa-4025	462	5	amsterdam	amsterdam	PROPN
ajfa-4025	462	6	,	,	PUNCT
ajfa-4025	462	7	reprinted	reprint	VERB
ajfa-4025	462	8	1997	1997	NUM
ajfa-4025	462	9	–	–	PUNCT
ajfa-4025	462	10	fraser	fraser	NOUN
ajfa-4025	462	11	publishing	publishing	NOUN
ajfa-4025	462	12	,	,	PUNCT
ajfa-4025	462	13	burlington	burlington	PROPN
ajfa-4025	462	14	,	,	PUNCT
ajfa-4025	462	15	vt	vt	PROPN
ajfa-4025	462	16	.	.	PUNCT