id	sid	tid	token	lemma	pos
ajfa-74	1	1	asian	asian	ADJ
ajfa-74	1	2	journal	journal	PROPN
ajfa-74	1	3	of	of	ADP
ajfa-74	1	4	finance	finance	PROPN
ajfa-74	1	5	&	&	CCONJ
ajfa-74	1	6	accounting	accounting	PROPN
ajfa-74	1	7	issn	issn	PROPN
ajfa-74	1	8	1946	1946	NUM
ajfa-74	1	9	-	-	PUNCT
ajfa-74	1	10	052x	052x	NOUN
ajfa-74	1	11	2009	2009	NUM
ajfa-74	1	12	,	,	PUNCT
ajfa-74	1	13	vol	vol	NOUN
ajfa-74	1	14	.	.	PROPN
ajfa-74	1	15	1	1	NUM
ajfa-74	1	16	,	,	PUNCT
ajfa-74	1	17	no	no	INTJ
ajfa-74	1	18	.	.	NOUN
ajfa-74	1	19	2	2	NUM
ajfa-74	1	20	:	:	PUNCT
ajfa-74	1	21	e8	e8	PROPN
ajfa-74	1	22	163	163	NUM
ajfa-74	1	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	X
ajfa-74	1	24	an	an	DET
ajfa-74	1	25	examination	examination	NOUN
ajfa-74	1	26	of	of	ADP
ajfa-74	1	27	home	home	NOUN
ajfa-74	1	28	advantage	advantage	NOUN
ajfa-74	1	29	(	(	PUNCT
ajfa-74	1	30	bias	bias	NOUN
ajfa-74	1	31	)	)	PUNCT
ajfa-74	1	32	argument	argument	NOUN
ajfa-74	1	33	in	in	ADP
ajfa-74	1	34	the	the	DET
ajfa-74	1	35	indian	indian	ADJ
ajfa-74	1	36	financial	financial	ADJ
ajfa-74	1	37	markets	market	NOUN
ajfa-74	1	38	:	:	PUNCT
ajfa-74	1	39	domestic	domestic	ADJ
ajfa-74	1	40	financial	financial	ADJ
ajfa-74	1	41	institutional	institutional	ADJ
ajfa-74	1	42	investors	investor	NOUN
ajfa-74	1	43	(	(	PUNCT
ajfa-74	1	44	dfiis	dfiis	PROPN
ajfa-74	1	45	)	)	PUNCT
ajfa-74	1	46	vis	vis	X
ajfa-74	1	47	-	-	PUNCT
ajfa-74	1	48	a	a	PRON
ajfa-74	1	49	-	-	PUNCT
ajfa-74	1	50	vis	vis	X
ajfa-74	1	51	foreign	foreign	ADJ
ajfa-74	1	52	institutional	institutional	ADJ
ajfa-74	1	53	investors	investor	NOUN
ajfa-74	1	54	(	(	PUNCT
ajfa-74	1	55	fiis	fiis	NOUN
ajfa-74	1	56	)	)	PUNCT
ajfa-74	1	57	sanjay	sanjay	PROPN
ajfa-74	1	58	sehgal	sehgal	PROPN
ajfa-74	1	59	(	(	PUNCT
ajfa-74	1	60	corresponding	corresponding	ADJ
ajfa-74	1	61	author	author	NOUN
ajfa-74	1	62	)	)	PUNCT
ajfa-74	1	63	professor	professor	NOUN
ajfa-74	1	64	of	of	ADP
ajfa-74	1	65	finance	finance	PROPN
ajfa-74	1	66	department	department	PROPN
ajfa-74	1	67	of	of	ADP
ajfa-74	1	68	financial	financial	PROPN
ajfa-74	1	69	studies	studies	PROPN
ajfa-74	1	70	university	university	PROPN
ajfa-74	1	71	of	of	ADP
ajfa-74	1	72	delhi	delhi	PROPN
ajfa-74	1	73	,	,	PUNCT
ajfa-74	1	74	esc	esc	PROPN
ajfa-74	1	75	-	-	PUNCT
ajfa-74	1	76	pau	pau	PROPN
ajfa-74	1	77	,	,	PUNCT
ajfa-74	1	78	france	france	PROPN
ajfa-74	1	79	email	email	NOUN
ajfa-74	1	80	:	:	PUNCT
ajfa-74	1	81	sanjayfin15@yahoo.co.in	sanjayfin15@yahoo.co.in	NOUN
ajfa-74	1	82	neeta	neeta	PROPN
ajfa-74	1	83	tripathi	tripathi	PROPN
ajfa-74	1	84	dyal	dyal	PROPN
ajfa-74	1	85	singh	singh	PROPN
ajfa-74	1	86	college	college	PROPN
ajfa-74	1	87	,	,	PUNCT
ajfa-74	1	88	university	university	PROPN
ajfa-74	1	89	of	of	ADP
ajfa-74	1	90	delhi	delhi	PROPN
ajfa-74	1	91	,	,	PUNCT
ajfa-74	1	92	india	india	PROPN
ajfa-74	1	93	abstract	abstract	NOUN
ajfa-74	1	94	in	in	ADP
ajfa-74	1	95	this	this	DET
ajfa-74	1	96	paper	paper	NOUN
ajfa-74	1	97	we	we	PRON
ajfa-74	1	98	examine	examine	VERB
ajfa-74	1	99	if	if	SCONJ
ajfa-74	1	100	domestic	domestic	ADJ
ajfa-74	1	101	financial	financial	ADJ
ajfa-74	1	102	institutional	institutional	ADJ
ajfa-74	1	103	investors	investor	NOUN
ajfa-74	1	104	(	(	PUNCT
ajfa-74	1	105	dfiis	dfiis	PROPN
ajfa-74	1	106	)	)	PUNCT
ajfa-74	1	107	have	have	VERB
ajfa-74	1	108	any	any	DET
ajfa-74	1	109	home	home	NOUN
ajfa-74	1	110	advantage	advantage	NOUN
ajfa-74	1	111	(	(	PUNCT
ajfa-74	1	112	bias	bias	NOUN
ajfa-74	1	113	)	)	PUNCT
ajfa-74	1	114	compared	compare	VERB
ajfa-74	1	115	to	to	ADP
ajfa-74	1	116	foreign	foreign	ADJ
ajfa-74	1	117	institutional	institutional	ADJ
ajfa-74	1	118	investors	investor	NOUN
ajfa-74	1	119	(	(	PUNCT
ajfa-74	1	120	fiis	fiis	NOUN
ajfa-74	1	121	)	)	PUNCT
ajfa-74	1	122	for	for	ADP
ajfa-74	1	123	both	both	CCONJ
ajfa-74	1	124	the	the	DET
ajfa-74	1	125	equity	equity	NOUN
ajfa-74	1	126	and	and	CCONJ
ajfa-74	1	127	debt	debt	NOUN
ajfa-74	1	128	segments	segment	NOUN
ajfa-74	1	129	of	of	ADP
ajfa-74	1	130	the	the	DET
ajfa-74	1	131	indian	indian	ADJ
ajfa-74	1	132	capital	capital	NOUN
ajfa-74	1	133	market	market	NOUN
ajfa-74	1	134	.	.	PUNCT
ajfa-74	2	1	we	we	PRON
ajfa-74	2	2	find	find	VERB
ajfa-74	2	3	that	that	SCONJ
ajfa-74	2	4	both	both	CCONJ
ajfa-74	2	5	the	the	DET
ajfa-74	2	6	dfiis	dfiis	NOUN
ajfa-74	2	7	and	and	CCONJ
ajfa-74	2	8	fiis	fiis	NOUN
ajfa-74	2	9	follow	follow	VERB
ajfa-74	2	10	a	a	DET
ajfa-74	2	11	positive	positive	ADJ
ajfa-74	2	12	feedback	feedback	NOUN
ajfa-74	2	13	trading	trading	NOUN
ajfa-74	2	14	mechanism	mechanism	NOUN
ajfa-74	2	15	chasing	chase	VERB
ajfa-74	2	16	stock	stock	NOUN
ajfa-74	2	17	market	market	NOUN
ajfa-74	2	18	returns	return	NOUN
ajfa-74	2	19	.	.	PUNCT
ajfa-74	3	1	however	however	ADV
ajfa-74	3	2	,	,	PUNCT
ajfa-74	3	3	fiis	fiis	NOUN
ajfa-74	3	4	seem	seem	VERB
ajfa-74	3	5	to	to	PART
ajfa-74	3	6	be	be	AUX
ajfa-74	3	7	reacting	react	VERB
ajfa-74	3	8	faster	fast	ADV
ajfa-74	3	9	compared	compare	VERB
ajfa-74	3	10	to	to	ADP
ajfa-74	3	11	dfiis	dfiis	NOUN
ajfa-74	3	12	in	in	ADP
ajfa-74	3	13	the	the	DET
ajfa-74	3	14	case	case	NOUN
ajfa-74	3	15	of	of	ADP
ajfa-74	3	16	the	the	DET
ajfa-74	3	17	equity	equity	NOUN
ajfa-74	3	18	market	market	NOUN
ajfa-74	3	19	.	.	PUNCT
ajfa-74	4	1	this	this	PRON
ajfa-74	4	2	may	may	AUX
ajfa-74	4	3	be	be	AUX
ajfa-74	4	4	owing	owe	VERB
ajfa-74	4	5	to	to	ADP
ajfa-74	4	6	the	the	DET
ajfa-74	4	7	fact	fact	NOUN
ajfa-74	4	8	that	that	SCONJ
ajfa-74	4	9	the	the	DET
ajfa-74	4	10	former	former	ADJ
ajfa-74	4	11	have	have	AUX
ajfa-74	4	12	international	international	ADJ
ajfa-74	4	13	expertise	expertise	NOUN
ajfa-74	4	14	and	and	CCONJ
ajfa-74	4	15	greater	great	ADJ
ajfa-74	4	16	resources	resource	NOUN
ajfa-74	4	17	and	and	CCONJ
ajfa-74	4	18	play	play	VERB
ajfa-74	4	19	a	a	DET
ajfa-74	4	20	dominant	dominant	ADJ
ajfa-74	4	21	role	role	NOUN
ajfa-74	4	22	in	in	ADP
ajfa-74	4	23	this	this	DET
ajfa-74	4	24	segment	segment	NOUN
ajfa-74	4	25	of	of	ADP
ajfa-74	4	26	capital	capital	NOUN
ajfa-74	4	27	market	market	NOUN
ajfa-74	4	28	as	as	SCONJ
ajfa-74	4	29	shown	show	VERB
ajfa-74	4	30	by	by	ADP
ajfa-74	4	31	their	their	PRON
ajfa-74	4	32	share	share	NOUN
ajfa-74	4	33	in	in	ADP
ajfa-74	4	34	the	the	DET
ajfa-74	4	35	trading	trading	NOUN
ajfa-74	4	36	volume	volume	NOUN
ajfa-74	4	37	.	.	PUNCT
ajfa-74	5	1	in	in	ADP
ajfa-74	5	2	contrast	contrast	NOUN
ajfa-74	5	3	,	,	PUNCT
ajfa-74	5	4	the	the	DET
ajfa-74	5	5	dfiis	dfiis	NOUN
ajfa-74	5	6	lead	lead	VERB
ajfa-74	5	7	the	the	DET
ajfa-74	5	8	market	market	NOUN
ajfa-74	5	9	returns	return	NOUN
ajfa-74	5	10	which	which	PRON
ajfa-74	5	11	in	in	ADP
ajfa-74	5	12	turn	turn	NOUN
ajfa-74	5	13	attract	attract	VERB
ajfa-74	5	14	the	the	DET
ajfa-74	5	15	fiis	fiis	NOUN
ajfa-74	5	16	thus	thus	ADV
ajfa-74	5	17	,	,	PUNCT
ajfa-74	5	18	supporting	support	VERB
ajfa-74	5	19	home	home	NOUN
ajfa-74	5	20	advantage	advantage	NOUN
ajfa-74	5	21	(	(	PUNCT
ajfa-74	5	22	bias	bias	NOUN
ajfa-74	5	23	)	)	PUNCT
ajfa-74	5	24	argument	argument	NOUN
ajfa-74	5	25	.	.	PUNCT
ajfa-74	6	1	interestingly	interestingly	ADV
ajfa-74	6	2	,	,	PUNCT
ajfa-74	6	3	the	the	DET
ajfa-74	6	4	dfiis	dfiis	NOUN
ajfa-74	6	5	unlike	unlike	ADP
ajfa-74	6	6	in	in	ADP
ajfa-74	6	7	the	the	DET
ajfa-74	6	8	equity	equity	NOUN
ajfa-74	6	9	market	market	NOUN
ajfa-74	6	10	,	,	PUNCT
ajfa-74	6	11	play	play	VERB
ajfa-74	6	12	a	a	DET
ajfa-74	6	13	more	more	ADV
ajfa-74	6	14	important	important	ADJ
ajfa-74	6	15	role	role	NOUN
ajfa-74	6	16	in	in	ADP
ajfa-74	6	17	debt	debt	NOUN
ajfa-74	6	18	market	market	NOUN
ajfa-74	6	19	trading	trading	NOUN
ajfa-74	6	20	activities	activity	NOUN
ajfa-74	6	21	.	.	PUNCT
ajfa-74	7	1	our	our	PRON
ajfa-74	7	2	results	result	NOUN
ajfa-74	7	3	point	point	VERB
ajfa-74	7	4	at	at	ADP
ajfa-74	7	5	greater	great	ADJ
ajfa-74	7	6	debt	debt	NOUN
ajfa-74	7	7	market	market	NOUN
ajfa-74	7	8	inefficiency	inefficiency	NOUN
ajfa-74	7	9	in	in	ADP
ajfa-74	7	10	the	the	DET
ajfa-74	7	11	indian	indian	ADJ
ajfa-74	7	12	context	context	NOUN
ajfa-74	7	13	which	which	PRON
ajfa-74	7	14	may	may	AUX
ajfa-74	7	15	be	be	AUX
ajfa-74	7	16	a	a	DET
ajfa-74	7	17	reflection	reflection	NOUN
ajfa-74	7	18	of	of	ADP
ajfa-74	7	19	the	the	DET
ajfa-74	7	20	relatively	relatively	ADV
ajfa-74	7	21	underdeveloped	underdeveloped	ADJ
ajfa-74	7	22	nature	nature	NOUN
ajfa-74	7	23	of	of	ADP
ajfa-74	7	24	this	this	DET
ajfa-74	7	25	market	market	NOUN
ajfa-74	7	26	.	.	PUNCT
ajfa-74	8	1	key	key	ADJ
ajfa-74	8	2	words	word	NOUN
ajfa-74	8	3	:	:	PUNCT
ajfa-74	8	4	home	home	NOUN
ajfa-74	8	5	advantage	advantage	NOUN
ajfa-74	8	6	(	(	PUNCT
ajfa-74	8	7	bias	bias	NOUN
ajfa-74	8	8	)	)	PUNCT
ajfa-74	8	9	,	,	PUNCT
ajfa-74	8	10	domestic	domestic	ADJ
ajfa-74	8	11	financial	financial	ADJ
ajfa-74	8	12	institutional	institutional	ADJ
ajfa-74	8	13	investors	investor	NOUN
ajfa-74	8	14	,	,	PUNCT
ajfa-74	8	15	foreign	foreign	ADJ
ajfa-74	8	16	institutional	institutional	ADJ
ajfa-74	8	17	investors	investor	NOUN
ajfa-74	8	18	,	,	PUNCT
ajfa-74	8	19	market	market	NOUN
ajfa-74	8	20	returns	return	NOUN
ajfa-74	8	21	,	,	PUNCT
ajfa-74	8	22	equity	equity	NOUN
ajfa-74	8	23	market	market	NOUN
ajfa-74	8	24	,	,	PUNCT
ajfa-74	8	25	debt	debt	NOUN
ajfa-74	8	26	market	market	NOUN
ajfa-74	8	27	.	.	PUNCT
ajfa-74	9	1	jel	jel	PROPN
ajfa-74	9	2	classifications	classification	NOUN
ajfa-74	9	3	:	:	PUNCT
ajfa-74	9	4	g100	g100	PROPN
ajfa-74	9	5	,	,	PUNCT
ajfa-74	9	6	g140	g140	PROPN
ajfa-74	9	7	mailto:sanjayfin15@yahoo.co.in	mailto:sanjayfin15@yahoo.co.in	PROPN
ajfa-74	9	8	asian	asian	ADJ
ajfa-74	9	9	journal	journal	NOUN
ajfa-74	9	10	of	of	ADP
ajfa-74	9	11	finance	finance	PROPN
ajfa-74	9	12	&	&	CCONJ
ajfa-74	9	13	accounting	accounting	PROPN
ajfa-74	9	14	issn	issn	PROPN
ajfa-74	9	15	1946	1946	NUM
ajfa-74	9	16	-	-	PUNCT
ajfa-74	9	17	052x	052x	NOUN
ajfa-74	9	18	2009	2009	NUM
ajfa-74	9	19	,	,	PUNCT
ajfa-74	9	20	vol	vol	NOUN
ajfa-74	9	21	.	.	PROPN
ajfa-74	9	22	1	1	NUM
ajfa-74	9	23	,	,	PUNCT
ajfa-74	9	24	no	no	INTJ
ajfa-74	9	25	.	.	NOUN
ajfa-74	9	26	2	2	NUM
ajfa-74	9	27	:	:	PUNCT
ajfa-74	9	28	e8	e8	PROPN
ajfa-74	9	29	164	164	NUM
ajfa-74	9	30	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-74	9	31	1	1	NUM
ajfa-74	9	32	.	.	PUNCT
ajfa-74	9	33	introduction	introduction	NOUN
ajfa-74	9	34	since	since	SCONJ
ajfa-74	9	35	the	the	DET
ajfa-74	9	36	fortunes	fortune	NOUN
ajfa-74	9	37	of	of	ADP
ajfa-74	9	38	different	different	ADJ
ajfa-74	9	39	nations	nation	NOUN
ajfa-74	9	40	do	do	AUX
ajfa-74	9	41	not	not	PART
ajfa-74	9	42	always	always	ADV
ajfa-74	9	43	move	move	VERB
ajfa-74	9	44	together	together	ADV
ajfa-74	9	45	,	,	PUNCT
ajfa-74	9	46	investors	investor	NOUN
ajfa-74	9	47	can	can	AUX
ajfa-74	9	48	diversify	diversify	VERB
ajfa-74	9	49	their	their	PRON
ajfa-74	9	50	portfolios	portfolio	NOUN
ajfa-74	9	51	by	by	ADP
ajfa-74	9	52	holding	hold	VERB
ajfa-74	9	53	assets	asset	NOUN
ajfa-74	9	54	in	in	ADP
ajfa-74	9	55	different	different	ADJ
ajfa-74	9	56	countries	country	NOUN
ajfa-74	9	57	.	.	PUNCT
ajfa-74	10	1	the	the	DET
ajfa-74	10	2	benefits	benefit	NOUN
ajfa-74	10	3	of	of	ADP
ajfa-74	10	4	international	international	ADJ
ajfa-74	10	5	diversification	diversification	NOUN
ajfa-74	10	6	have	have	AUX
ajfa-74	10	7	been	be	AUX
ajfa-74	10	8	recognized	recognize	VERB
ajfa-74	10	9	for	for	ADP
ajfa-74	10	10	decades	decade	NOUN
ajfa-74	10	11	.	.	PUNCT
ajfa-74	11	1	in	in	ADP
ajfa-74	11	2	spite	spite	NOUN
ajfa-74	11	3	of	of	ADP
ajfa-74	11	4	this	this	PRON
ajfa-74	11	5	,	,	PUNCT
ajfa-74	11	6	most	most	ADJ
ajfa-74	11	7	investors	investor	NOUN
ajfa-74	11	8	hold	hold	VERB
ajfa-74	11	9	nearly	nearly	ADV
ajfa-74	11	10	all	all	PRON
ajfa-74	11	11	of	of	ADP
ajfa-74	11	12	their	their	PRON
ajfa-74	11	13	wealth	wealth	NOUN
ajfa-74	11	14	in	in	ADP
ajfa-74	11	15	domestic	domestic	ADJ
ajfa-74	11	16	assets	asset	NOUN
ajfa-74	11	17	.	.	PUNCT
ajfa-74	12	1	much	much	ADJ
ajfa-74	12	2	of	of	ADP
ajfa-74	12	3	the	the	DET
ajfa-74	12	4	international	international	ADJ
ajfa-74	12	5	finance	finance	NOUN
ajfa-74	12	6	literature	literature	NOUN
ajfa-74	12	7	emphasize	emphasize	VERB
ajfa-74	12	8	that	that	SCONJ
ajfa-74	12	9	foreign	foreign	ADJ
ajfa-74	12	10	investors	investor	NOUN
ajfa-74	12	11	are	be	AUX
ajfa-74	12	12	different	different	ADJ
ajfa-74	12	13	from	from	ADP
ajfa-74	12	14	domestic	domestic	ADJ
ajfa-74	12	15	investors	investor	NOUN
ajfa-74	12	16	.	.	PUNCT
ajfa-74	13	1	a	a	DET
ajfa-74	13	2	stylized	stylize	VERB
ajfa-74	13	3	fact	fact	NOUN
ajfa-74	13	4	of	of	ADP
ajfa-74	13	5	the	the	DET
ajfa-74	13	6	international	international	ADJ
ajfa-74	13	7	finance	finance	NOUN
ajfa-74	13	8	literature	literature	NOUN
ajfa-74	13	9	is	be	AUX
ajfa-74	13	10	the	the	DET
ajfa-74	13	11	existence	existence	NOUN
ajfa-74	13	12	of	of	ADP
ajfa-74	13	13	the	the	DET
ajfa-74	13	14	home	home	NOUN
ajfa-74	13	15	bias	bias	NOUN
ajfa-74	13	16	1	1	NUM
ajfa-74	13	17	.	.	PUNCT
ajfa-74	14	1	with	with	ADP
ajfa-74	14	2	the	the	DET
ajfa-74	14	3	home	home	NOUN
ajfa-74	14	4	bias	bias	NOUN
ajfa-74	14	5	,	,	PUNCT
ajfa-74	14	6	investors	investor	NOUN
ajfa-74	14	7	overweight	overweight	VERB
ajfa-74	14	8	the	the	DET
ajfa-74	14	9	domestic	domestic	ADJ
ajfa-74	14	10	market	market	NOUN
ajfa-74	14	11	in	in	ADP
ajfa-74	14	12	their	their	PRON
ajfa-74	14	13	portfolios	portfolio	NOUN
ajfa-74	14	14	.	.	PUNCT
ajfa-74	15	1	despite	despite	SCONJ
ajfa-74	15	2	the	the	DET
ajfa-74	15	3	dramatic	dramatic	ADJ
ajfa-74	15	4	increase	increase	NOUN
ajfa-74	15	5	in	in	ADP
ajfa-74	15	6	cross	cross	ADJ
ajfa-74	15	7	-	-	ADJ
ajfa-74	15	8	border	border	ADJ
ajfa-74	15	9	equity	equity	NOUN
ajfa-74	15	10	and	and	CCONJ
ajfa-74	15	11	bond	bond	NOUN
ajfa-74	15	12	transactions	transaction	NOUN
ajfa-74	15	13	over	over	ADP
ajfa-74	15	14	the	the	DET
ajfa-74	15	15	last	last	ADJ
ajfa-74	15	16	20	20	NUM
ajfa-74	15	17	years	year	NOUN
ajfa-74	15	18	,	,	PUNCT
ajfa-74	15	19	the	the	DET
ajfa-74	15	20	home	home	NOUN
ajfa-74	15	21	bias	bias	NOUN
ajfa-74	15	22	has	have	AUX
ajfa-74	15	23	not	not	PART
ajfa-74	15	24	disappeared	disappear	VERB
ajfa-74	15	25	.	.	PUNCT
ajfa-74	16	1	a	a	DET
ajfa-74	16	2	number	number	NOUN
ajfa-74	16	3	of	of	ADP
ajfa-74	16	4	attempts	attempt	NOUN
ajfa-74	16	5	have	have	AUX
ajfa-74	16	6	been	be	AUX
ajfa-74	16	7	made	make	VERB
ajfa-74	16	8	to	to	PART
ajfa-74	16	9	explain	explain	VERB
ajfa-74	16	10	the	the	DET
ajfa-74	16	11	home	home	NOUN
ajfa-74	16	12	bias	bias	NOUN
ajfa-74	16	13	.	.	PUNCT
ajfa-74	17	1	one	one	NUM
ajfa-74	17	2	recurring	recur	VERB
ajfa-74	17	3	theme	theme	NOUN
ajfa-74	17	4	in	in	ADP
ajfa-74	17	5	the	the	DET
ajfa-74	17	6	literature	literature	NOUN
ajfa-74	17	7	is	be	AUX
ajfa-74	17	8	that	that	SCONJ
ajfa-74	17	9	foreign	foreign	ADJ
ajfa-74	17	10	investors	investor	NOUN
ajfa-74	17	11	are	be	AUX
ajfa-74	17	12	less	less	ADV
ajfa-74	17	13	well	well	ADV
ajfa-74	17	14	informed	informed	ADJ
ajfa-74	17	15	about	about	ADP
ajfa-74	17	16	domestic	domestic	ADJ
ajfa-74	17	17	securities	security	NOUN
ajfa-74	17	18	than	than	ADP
ajfa-74	17	19	domestic	domestic	ADJ
ajfa-74	17	20	investors	investor	NOUN
ajfa-74	17	21	,	,	PUNCT
ajfa-74	17	22	so	so	SCONJ
ajfa-74	17	23	that	that	SCONJ
ajfa-74	17	24	they	they	PRON
ajfa-74	17	25	are	be	AUX
ajfa-74	17	26	at	at	ADP
ajfa-74	17	27	a	a	DET
ajfa-74	17	28	disadvantage	disadvantage	NOUN
ajfa-74	17	29	trading	trading	NOUN
ajfa-74	17	30	and	and	CCONJ
ajfa-74	17	31	holding	hold	VERB
ajfa-74	17	32	these	these	DET
ajfa-74	17	33	securities	security	NOUN
ajfa-74	17	34	2	2	NUM
ajfa-74	17	35	.	.	PUNCT
ajfa-74	18	1	recently	recently	ADV
ajfa-74	18	2	,	,	PUNCT
ajfa-74	18	3	the	the	DET
ajfa-74	18	4	informational	informational	ADJ
ajfa-74	18	5	disadvantage	disadvantage	NOUN
ajfa-74	18	6	of	of	ADP
ajfa-74	18	7	foreign	foreign	ADJ
ajfa-74	18	8	investors	investor	NOUN
ajfa-74	18	9	has	have	AUX
ajfa-74	18	10	been	be	AUX
ajfa-74	18	11	used	use	VERB
ajfa-74	18	12	as	as	ADP
ajfa-74	18	13	the	the	DET
ajfa-74	18	14	foundation	foundation	NOUN
ajfa-74	18	15	for	for	ADP
ajfa-74	18	16	models	model	NOUN
ajfa-74	18	17	that	that	PRON
ajfa-74	18	18	attempt	attempt	VERB
ajfa-74	18	19	to	to	PART
ajfa-74	18	20	explain	explain	VERB
ajfa-74	18	21	the	the	DET
ajfa-74	18	22	contagion	contagion	NOUN
ajfa-74	18	23	nature	nature	NOUN
ajfa-74	18	24	of	of	ADP
ajfa-74	18	25	financial	financial	ADJ
ajfa-74	18	26	markets	market	NOUN
ajfa-74	18	27	across	across	ADP
ajfa-74	18	28	world	world	NOUN
ajfa-74	18	29	.	.	PUNCT
ajfa-74	19	1	foreign	foreign	ADJ
ajfa-74	19	2	and	and	CCONJ
ajfa-74	19	3	domestic	domestic	ADJ
ajfa-74	19	4	investors	investor	NOUN
ajfa-74	19	5	have	have	VERB
ajfa-74	19	6	positions	position	NOUN
ajfa-74	19	7	in	in	ADP
ajfa-74	19	8	a	a	DET
ajfa-74	19	9	national	national	ADJ
ajfa-74	19	10	stock	stock	NOUN
ajfa-74	19	11	market	market	NOUN
ajfa-74	19	12	based	base	VERB
ajfa-74	19	13	on	on	ADP
ajfa-74	19	14	their	their	PRON
ajfa-74	19	15	past	past	ADJ
ajfa-74	19	16	private	private	ADJ
ajfa-74	19	17	information	information	NOUN
ajfa-74	19	18	signals	signal	NOUN
ajfa-74	19	19	,	,	PUNCT
ajfa-74	19	20	past	past	ADP
ajfa-74	19	21	public	public	ADJ
ajfa-74	19	22	signals	signal	NOUN
ajfa-74	19	23	and	and	CCONJ
ajfa-74	19	24	the	the	DET
ajfa-74	19	25	information	information	NOUN
ajfa-74	19	26	about	about	ADP
ajfa-74	19	27	the	the	DET
ajfa-74	19	28	private	private	ADJ
ajfa-74	19	29	signals	signal	NOUN
ajfa-74	19	30	received	receive	VERB
ajfa-74	19	31	by	by	ADP
ajfa-74	19	32	others	other	NOUN
ajfa-74	19	33	that	that	SCONJ
ajfa-74	19	34	they	they	PRON
ajfa-74	19	35	are	be	AUX
ajfa-74	19	36	able	able	ADJ
ajfa-74	19	37	to	to	PART
ajfa-74	19	38	glean	glean	VERB
ajfa-74	19	39	from	from	ADP
ajfa-74	19	40	the	the	DET
ajfa-74	19	41	price	price	NOUN
ajfa-74	19	42	in	in	ADP
ajfa-74	19	43	noisy	noisy	ADJ
ajfa-74	19	44	rational	rational	ADJ
ajfa-74	19	45	expectations	expectation	NOUN
ajfa-74	19	46	equilibrium	equilibrium	NOUN
ajfa-74	19	47	.	.	PUNCT
ajfa-74	20	1	given	give	VERB
ajfa-74	20	2	these	these	DET
ajfa-74	20	3	portfolio	portfolio	NOUN
ajfa-74	20	4	positions	position	NOUN
ajfa-74	20	5	,	,	PUNCT
ajfa-74	20	6	a	a	DET
ajfa-74	20	7	public	public	ADJ
ajfa-74	20	8	signal	signal	NOUN
ajfa-74	20	9	leads	lead	VERB
ajfa-74	20	10	investors	investor	NOUN
ajfa-74	20	11	to	to	PART
ajfa-74	20	12	revise	revise	VERB
ajfa-74	20	13	their	their	PRON
ajfa-74	20	14	previous	previous	ADJ
ajfa-74	20	15	positions	position	NOUN
ajfa-74	20	16	.	.	PUNCT
ajfa-74	21	1	the	the	DET
ajfa-74	21	2	less	less	ADV
ajfa-74	21	3	well	well	ADV
ajfa-74	21	4	informed	informed	ADJ
ajfa-74	21	5	(	(	PUNCT
ajfa-74	21	6	i.e.	i.e.	X
ajfa-74	21	7	foreign	foreign	ADJ
ajfa-74	21	8	)	)	PUNCT
ajfa-74	21	9	investors	investor	NOUN
ajfa-74	21	10	revise	revise	VERB
ajfa-74	21	11	the	the	DET
ajfa-74	21	12	means	mean	NOUN
ajfa-74	21	13	of	of	ADP
ajfa-74	21	14	their	their	PRON
ajfa-74	21	15	distributions	distribution	NOUN
ajfa-74	21	16	by	by	ADP
ajfa-74	21	17	more	more	ADJ
ajfa-74	21	18	than	than	ADP
ajfa-74	21	19	betterinformed	betterinforme	VERB
ajfa-74	21	20	(	(	PUNCT
ajfa-74	21	21	i.e.	i.e.	X
ajfa-74	21	22	local	local	ADJ
ajfa-74	21	23	)	)	PUNCT
ajfa-74	21	24	investors	investor	NOUN
ajfa-74	21	25	.	.	PUNCT
ajfa-74	22	1	this	this	PRON
ajfa-74	22	2	implies	imply	VERB
ajfa-74	22	3	that	that	SCONJ
ajfa-74	22	4	if	if	SCONJ
ajfa-74	22	5	the	the	DET
ajfa-74	22	6	public	public	ADJ
ajfa-74	22	7	signal	signal	NOUN
ajfa-74	22	8	conveys	convey	VERB
ajfa-74	22	9	good	good	ADJ
ajfa-74	22	10	news	news	NOUN
ajfa-74	22	11	about	about	ADP
ajfa-74	22	12	the	the	DET
ajfa-74	22	13	payoff	payoff	NOUN
ajfa-74	22	14	on	on	ADP
ajfa-74	22	15	the	the	DET
ajfa-74	22	16	domestic	domestic	ADJ
ajfa-74	22	17	market	market	NOUN
ajfa-74	22	18	portfolio	portfolio	NOUN
ajfa-74	22	19	,	,	PUNCT
ajfa-74	22	20	foreign	foreign	ADJ
ajfa-74	22	21	investors	investor	NOUN
ajfa-74	22	22	increase	increase	VERB
ajfa-74	22	23	their	their	PRON
ajfa-74	22	24	assessment	assessment	NOUN
ajfa-74	22	25	of	of	ADP
ajfa-74	22	26	the	the	DET
ajfa-74	22	27	expected	expect	VERB
ajfa-74	22	28	payoff	payoff	NOUN
ajfa-74	22	29	faster	fast	ADV
ajfa-74	22	30	than	than	SCONJ
ajfa-74	22	31	better	well	ADV
ajfa-74	22	32	informed	informed	ADJ
ajfa-74	22	33	domestic	domestic	ADJ
ajfa-74	22	34	investors	investor	NOUN
ajfa-74	22	35	do	do	VERB
ajfa-74	22	36	;	;	PUNCT
ajfa-74	22	37	as	as	SCONJ
ajfa-74	22	38	a	a	DET
ajfa-74	22	39	result	result	NOUN
ajfa-74	22	40	price	price	NOUN
ajfa-74	22	41	rises	rise	NOUN
ajfa-74	22	42	to	to	PART
ajfa-74	22	43	clear	clear	VERB
ajfa-74	22	44	the	the	DET
ajfa-74	22	45	market	market	NOUN
ajfa-74	22	46	,	,	PUNCT
ajfa-74	22	47	and	and	CCONJ
ajfa-74	22	48	the	the	DET
ajfa-74	22	49	less	less	ADV
ajfa-74	22	50	well	well	ADV
ajfa-74	22	51	informed	informed	ADJ
ajfa-74	22	52	foreign	foreign	ADJ
ajfa-74	22	53	investors	investor	NOUN
ajfa-74	22	54	purchase	purchase	VERB
ajfa-74	22	55	more	more	ADJ
ajfa-74	22	56	of	of	ADP
ajfa-74	22	57	the	the	DET
ajfa-74	22	58	domestic	domestic	ADJ
ajfa-74	22	59	market	market	NOUN
ajfa-74	22	60	portfolio	portfolio	NOUN
ajfa-74	22	61	from	from	ADP
ajfa-74	22	62	the	the	DET
ajfa-74	22	63	better	well	ADV
ajfa-74	22	64	informed	informed	ADJ
ajfa-74	22	65	domestic	domestic	ADJ
ajfa-74	22	66	investors	investor	NOUN
ajfa-74	22	67	;	;	PUNCT
ajfa-74	22	68	the	the	DET
ajfa-74	22	69	reverse	reverse	NOUN
ajfa-74	22	70	occurs	occur	VERB
ajfa-74	22	71	if	if	SCONJ
ajfa-74	22	72	the	the	DET
ajfa-74	22	73	news	news	NOUN
ajfa-74	22	74	is	be	AUX
ajfa-74	22	75	bad	bad	ADJ
ajfa-74	22	76	and	and	CCONJ
ajfa-74	22	77	the	the	DET
ajfa-74	22	78	price	price	NOUN
ajfa-74	22	79	fall	fall	NOUN
ajfa-74	22	80	(	(	PUNCT
ajfa-74	22	81	brennan	brennan	NOUN
ajfa-74	22	82	and	and	CCONJ
ajfa-74	22	83	cao	cao	PROPN
ajfa-74	22	84	1997	1997	NUM
ajfa-74	22	85	)	)	PUNCT
ajfa-74	22	86	.	.	PUNCT
ajfa-74	23	1	usually	usually	ADV
ajfa-74	23	2	foreign	foreign	ADJ
ajfa-74	23	3	institutional	institutional	ADJ
ajfa-74	23	4	investors	investor	NOUN
ajfa-74	23	5	have	have	VERB
ajfa-74	23	6	access	access	NOUN
ajfa-74	23	7	to	to	ADP
ajfa-74	23	8	both	both	DET
ajfa-74	23	9	international	international	ADJ
ajfa-74	23	10	expertise	expertise	NOUN
ajfa-74	23	11	and	and	CCONJ
ajfa-74	23	12	talent	talent	NOUN
ajfa-74	23	13	and	and	CCONJ
ajfa-74	23	14	have	have	VERB
ajfa-74	23	15	considerable	considerable	ADJ
ajfa-74	23	16	local	local	ADJ
ajfa-74	23	17	resources	resource	NOUN
ajfa-74	23	18	.	.	PUNCT
ajfa-74	24	1	it	it	PRON
ajfa-74	24	2	is	be	AUX
ajfa-74	24	3	therefore	therefore	ADV
ajfa-74	24	4	not	not	PART
ajfa-74	24	5	obvious	obvious	ADJ
ajfa-74	24	6	that	that	SCONJ
ajfa-74	24	7	foreign	foreign	ADJ
ajfa-74	24	8	institutional	institutional	ADJ
ajfa-74	24	9	investors	investor	NOUN
ajfa-74	24	10	should	should	AUX
ajfa-74	24	11	be	be	AUX
ajfa-74	24	12	at	at	ADP
ajfa-74	24	13	a	a	DET
ajfa-74	24	14	disadvantage	disadvantage	NOUN
ajfa-74	24	15	relative	relative	ADJ
ajfa-74	24	16	to	to	ADP
ajfa-74	24	17	domestic	domestic	ADJ
ajfa-74	24	18	institutional	institutional	ADJ
ajfa-74	24	19	investors	investor	NOUN
ajfa-74	24	20	.	.	PUNCT
ajfa-74	25	1	grinblatt	grinblatt	NOUN
ajfa-74	25	2	and	and	CCONJ
ajfa-74	25	3	keloharju	keloharju	NOUN
ajfa-74	25	4	(	(	PUNCT
ajfa-74	25	5	2000	2000	NUM
ajfa-74	25	6	)	)	PUNCT
ajfa-74	25	7	and	and	CCONJ
ajfa-74	25	8	seasholes	seashole	NOUN
ajfa-74	25	9	(	(	PUNCT
ajfa-74	25	10	2000	2000	NUM
ajfa-74	25	11	)	)	PUNCT
ajfa-74	25	12	even	even	ADV
ajfa-74	25	13	argue	argue	VERB
ajfa-74	25	14	that	that	SCONJ
ajfa-74	25	15	as	as	ADP
ajfa-74	25	16	a	a	DET
ajfa-74	25	17	result	result	NOUN
ajfa-74	25	18	of	of	ADP
ajfa-74	25	19	their	their	PRON
ajfa-74	25	20	better	well	ADJ
ajfa-74	25	21	access	access	NOUN
ajfa-74	25	22	to	to	ADP
ajfa-74	25	23	expertise	expertise	NOUN
ajfa-74	25	24	and	and	CCONJ
ajfa-74	25	25	talent	talent	NOUN
ajfa-74	25	26	,	,	PUNCT
ajfa-74	25	27	foreign	foreign	ADJ
ajfa-74	25	28	institutions	institution	NOUN
ajfa-74	25	29	should	should	AUX
ajfa-74	25	30	be	be	AUX
ajfa-74	25	31	smarter	smart	ADJ
ajfa-74	25	32	than	than	ADP
ajfa-74	25	33	local	local	ADJ
ajfa-74	25	34	institutions	institution	NOUN
ajfa-74	25	35	.	.	PUNCT
ajfa-74	26	1	using	use	VERB
ajfa-74	26	2	daily	daily	ADJ
ajfa-74	26	3	data	datum	NOUN
ajfa-74	26	4	for	for	ADP
ajfa-74	26	5	the	the	DET
ajfa-74	26	6	16	16	NUM
ajfa-74	26	7	largest	large	ADJ
ajfa-74	26	8	finnish	finnish	ADJ
ajfa-74	26	9	stocks	stock	NOUN
ajfa-74	26	10	,	,	PUNCT
ajfa-74	26	11	grinblatt	grinblatt	NOUN
ajfa-74	26	12	and	and	CCONJ
ajfa-74	26	13	keloharju	keloharju	NOUN
ajfa-74	26	14	(	(	PUNCT
ajfa-74	26	15	2000	2000	NUM
ajfa-74	26	16	)	)	PUNCT
ajfa-74	26	17	find	find	VERB
ajfa-74	26	18	that	that	SCONJ
ajfa-74	26	19	over	over	ADP
ajfa-74	26	20	a	a	DET
ajfa-74	26	21	two	two	NUM
ajfa-74	26	22	-	-	PUNCT
ajfa-74	26	23	year	year	NOUN
ajfa-74	26	24	period	period	NOUN
ajfa-74	26	25	foreigners	foreigner	NOUN
ajfa-74	26	26	and	and	CCONJ
ajfa-74	26	27	domestic	domestic	ADJ
ajfa-74	26	28	financial	financial	ADJ
ajfa-74	26	29	corporations	corporation	NOUN
ajfa-74	26	30	buy	buy	VERB
ajfa-74	26	31	more	more	ADJ
ajfa-74	26	32	stocks	stock	NOUN
ajfa-74	26	33	that	that	PRON
ajfa-74	26	34	perform	perform	VERB
ajfa-74	26	35	well	well	ADV
ajfa-74	26	36	over	over	ADP
ajfa-74	26	37	the	the	DET
ajfa-74	26	38	next	next	ADJ
ajfa-74	26	39	120	120	NUM
ajfa-74	26	40	trading	trading	NOUN
ajfa-74	26	41	days	day	NOUN
ajfa-74	26	42	than	than	ADP
ajfa-74	26	43	domestic	domestic	ADJ
ajfa-74	26	44	individual	individual	ADJ
ajfa-74	26	45	investors	investor	NOUN
ajfa-74	26	46	,	,	PUNCT
ajfa-74	26	47	but	but	CCONJ
ajfa-74	26	48	their	their	PRON
ajfa-74	26	49	sample	sample	NOUN
ajfa-74	26	50	period	period	NOUN
ajfa-74	26	51	is	be	AUX
ajfa-74	26	52	too	too	ADV
ajfa-74	26	53	short	short	ADJ
ajfa-74	26	54	for	for	SCONJ
ajfa-74	26	55	them	they	PRON
ajfa-74	26	56	to	to	PART
ajfa-74	26	57	conduct	conduct	VERB
ajfa-74	26	58	a	a	DET
ajfa-74	26	59	study	study	NOUN
ajfa-74	26	60	of	of	ADP
ajfa-74	26	61	holding	hold	VERB
ajfa-74	26	62	period	period	NOUN
ajfa-74	26	63	returns	return	NOUN
ajfa-74	26	64	.	.	PUNCT
ajfa-74	27	1	seasholes	seashole	NOUN
ajfa-74	27	2	(	(	PUNCT
ajfa-74	27	3	2000	2000	NUM
ajfa-74	27	4	)	)	PUNCT
ajfa-74	27	5	finds	find	VERB
ajfa-74	27	6	that	that	SCONJ
ajfa-74	27	7	foreign	foreign	ADJ
ajfa-74	27	8	investors	investor	NOUN
ajfa-74	27	9	buy	buy	VERB
ajfa-74	27	10	(	(	PUNCT
ajfa-74	27	11	sell	sell	NOUN
ajfa-74	27	12	)	)	PUNCT
ajfa-74	27	13	ahead	ahead	ADV
ajfa-74	27	14	of	of	ADP
ajfa-74	27	15	good	good	ADJ
ajfa-74	27	16	(	(	PUNCT
ajfa-74	27	17	bad	bad	ADJ
ajfa-74	27	18	)	)	PUNCT
ajfa-74	27	19	earnings	earning	NOUN
ajfa-74	27	20	announcements	announcement	NOUN
ajfa-74	27	21	in	in	ADP
ajfa-74	27	22	taiwan	taiwan	PROPN
ajfa-74	27	23	while	while	SCONJ
ajfa-74	27	24	local	local	ADJ
ajfa-74	27	25	investors	investor	NOUN
ajfa-74	27	26	do	do	VERB
ajfa-74	27	27	the	the	DET
ajfa-74	27	28	opposite	opposite	NOUN
ajfa-74	27	29	.	.	PUNCT
ajfa-74	28	1	these	these	DET
ajfa-74	28	2	findings	finding	NOUN
ajfa-74	28	3	therefore	therefore	ADV
ajfa-74	28	4	,	,	PUNCT
ajfa-74	28	5	are	be	AUX
ajfa-74	28	6	consistent	consistent	ADJ
ajfa-74	28	7	with	with	ADP
ajfa-74	28	8	better	well	ADJ
ajfa-74	28	9	information	information	NOUN
ajfa-74	28	10	and	and	CCONJ
ajfa-74	28	11	greater	great	ADJ
ajfa-74	28	12	sophistication	sophistication	NOUN
ajfa-74	28	13	on	on	ADP
ajfa-74	28	14	the	the	DET
ajfa-74	28	15	part	part	NOUN
ajfa-74	28	16	of	of	ADP
ajfa-74	28	17	foreign	foreign	ADJ
ajfa-74	28	18	investors	investor	NOUN
ajfa-74	28	19	.	.	PUNCT
ajfa-74	29	1	however	however	ADV
ajfa-74	29	2	,	,	PUNCT
ajfa-74	29	3	evidence	evidence	NOUN
ajfa-74	29	4	on	on	ADP
ajfa-74	29	5	the	the	DET
ajfa-74	29	6	performance	performance	NOUN
ajfa-74	29	7	of	of	ADP
ajfa-74	29	8	foreign	foreign	ADJ
ajfa-74	29	9	investors	investor	NOUN
ajfa-74	29	10	is	be	AUX
ajfa-74	29	11	mixed	mixed	ADJ
ajfa-74	29	12	.	.	PUNCT
ajfa-74	30	1	for	for	ADP
ajfa-74	30	2	instance	instance	NOUN
ajfa-74	30	3	,	,	PUNCT
ajfa-74	30	4	kang	kang	PROPN
ajfa-74	30	5	and	and	CCONJ
ajfa-74	30	6	stulz	stulz	ADJ
ajfa-74	30	7	(	(	PUNCT
ajfa-74	30	8	1997	1997	NUM
ajfa-74	30	9	)	)	PUNCT
ajfa-74	30	10	using	use	VERB
ajfa-74	30	11	annual	annual	ADJ
ajfa-74	30	12	data	datum	NOUN
ajfa-74	30	13	for	for	ADP
ajfa-74	30	14	18	18	NUM
ajfa-74	30	15	years	year	NOUN
ajfa-74	30	16	find	find	VERB
ajfa-74	30	17	no	no	DET
ajfa-74	30	18	evidence	evidence	NOUN
ajfa-74	30	19	that	that	SCONJ
ajfa-74	30	20	foreign	foreign	ADJ
ajfa-74	30	21	investors	investor	NOUN
ajfa-74	30	22	outperform	outperform	VERB
ajfa-74	30	23	domestic	domestic	ADJ
ajfa-74	30	24	investors	investor	NOUN
ajfa-74	30	25	in	in	ADP
ajfa-74	30	26	japan	japan	PROPN
ajfa-74	30	27	.	.	PUNCT
ajfa-74	31	1	since	since	SCONJ
ajfa-74	31	2	1990/91	1990/91	NUM
ajfa-74	31	3	,	,	PUNCT
ajfa-74	31	4	the	the	DET
ajfa-74	31	5	government	government	NOUN
ajfa-74	31	6	of	of	ADP
ajfa-74	31	7	india	india	PROPN
ajfa-74	31	8	embarked	embark	VERB
ajfa-74	31	9	on	on	ADP
ajfa-74	31	10	liberalization	liberalization	NOUN
ajfa-74	31	11	and	and	CCONJ
ajfa-74	31	12	economic	economic	ADJ
ajfa-74	31	13	reforms	reform	NOUN
ajfa-74	31	14	with	with	ADP
ajfa-74	31	15	a	a	DET
ajfa-74	31	16	view	view	NOUN
ajfa-74	31	17	to	to	PART
ajfa-74	31	18	bring	bring	VERB
ajfa-74	31	19	about	about	ADP
ajfa-74	31	20	rapid	rapid	ADJ
ajfa-74	31	21	and	and	CCONJ
ajfa-74	31	22	substantial	substantial	ADJ
ajfa-74	31	23	economic	economic	ADJ
ajfa-74	31	24	growth	growth	NOUN
ajfa-74	31	25	and	and	CCONJ
ajfa-74	31	26	move	move	VERB
ajfa-74	31	27	towards	towards	ADP
ajfa-74	31	28	globalization	globalization	NOUN
ajfa-74	31	29	of	of	ADP
ajfa-74	31	30	the	the	DET
ajfa-74	31	31	economy	economy	NOUN
ajfa-74	31	32	.	.	PUNCT
ajfa-74	32	1	these	these	DET
ajfa-74	32	2	broad	broad	ADJ
ajfa-74	32	3	based	base	VERB
ajfa-74	32	4	economic	economic	ADJ
ajfa-74	32	5	reforms	reform	NOUN
ajfa-74	32	6	were	be	AUX
ajfa-74	32	7	recommended	recommend	VERB
ajfa-74	32	8	by	by	ADP
ajfa-74	32	9	the	the	DET
ajfa-74	32	10	report	report	NOUN
ajfa-74	32	11	of	of	ADP
ajfa-74	32	12	the	the	DET
ajfa-74	32	13	high	high	ADJ
ajfa-74	32	14	level	level	NOUN
ajfa-74	32	15	committee	committee	NOUN
ajfa-74	32	16	on	on	ADP
ajfa-74	32	17	the	the	DET
ajfa-74	32	18	balance	balance	NOUN
ajfa-74	32	19	of	of	ADP
ajfa-74	32	20	payments	payment	NOUN
ajfa-74	32	21	(	(	PUNCT
ajfa-74	32	22	govt	govt	NOUN
ajfa-74	32	23	.	.	PUNCT
ajfa-74	33	1	of	of	ADP
ajfa-74	33	2	india	india	PROPN
ajfa-74	33	3	,	,	PUNCT
ajfa-74	33	4	1993	1993	NUM
ajfa-74	33	5	)	)	PUNCT
ajfa-74	33	6	.	.	PUNCT
ajfa-74	34	1	one	one	NUM
ajfa-74	34	2	of	of	ADP
ajfa-74	34	3	the	the	DET
ajfa-74	34	4	recommendations	recommendation	NOUN
ajfa-74	34	5	was	be	AUX
ajfa-74	34	6	to	to	PART
ajfa-74	34	7	shift	shift	VERB
ajfa-74	34	8	the	the	DET
ajfa-74	34	9	composition	composition	NOUN
ajfa-74	34	10	of	of	ADP
ajfa-74	34	11	external	external	ADJ
ajfa-74	34	12	flows	flow	NOUN
ajfa-74	34	13	to	to	PART
ajfa-74	34	14	non	non	VERB
ajfa-74	34	15	debt	debt	NOUN
ajfa-74	34	16	creating	create	VERB
ajfa-74	34	17	flows	flow	NOUN
ajfa-74	34	18	.	.	PUNCT
ajfa-74	35	1	as	as	ADP
ajfa-74	35	2	a	a	DET
ajfa-74	35	3	result	result	NOUN
ajfa-74	35	4	,	,	PUNCT
ajfa-74	35	5	fiis	fiis	NOUN
ajfa-74	35	6	(	(	PUNCT
ajfa-74	35	7	foreign	foreign	ADJ
ajfa-74	35	8	institutional	institutional	ADJ
ajfa-74	35	9	investors	investor	NOUN
ajfa-74	35	10	)	)	PUNCT
ajfa-74	35	11	were	be	AUX
ajfa-74	35	12	allowed	allow	VERB
ajfa-74	35	13	asian	asian	ADJ
ajfa-74	35	14	journal	journal	NOUN
ajfa-74	35	15	of	of	ADP
ajfa-74	35	16	finance	finance	PROPN
ajfa-74	35	17	&	&	CCONJ
ajfa-74	35	18	accounting	accounting	PROPN
ajfa-74	35	19	issn	issn	PROPN
ajfa-74	35	20	1946	1946	NUM
ajfa-74	35	21	-	-	PUNCT
ajfa-74	35	22	052x	052x	NOUN
ajfa-74	35	23	2009	2009	NUM
ajfa-74	35	24	,	,	PUNCT
ajfa-74	35	25	vol	vol	NOUN
ajfa-74	35	26	.	.	PROPN
ajfa-74	36	1	1	1	NUM
ajfa-74	36	2	,	,	PUNCT
ajfa-74	36	3	no	no	INTJ
ajfa-74	36	4	.	.	NOUN
ajfa-74	36	5	2	2	NUM
ajfa-74	36	6	:	:	PUNCT
ajfa-74	36	7	e8	e8	PROPN
ajfa-74	36	8	165	165	NUM
ajfa-74	36	9	www.macrothink.org/ajfa	www.macrothink.org/ajfa	AUX
ajfa-74	36	10	to	to	PART
ajfa-74	36	11	invest	invest	VERB
ajfa-74	36	12	in	in	ADP
ajfa-74	36	13	indian	indian	ADJ
ajfa-74	36	14	debt	debt	NOUN
ajfa-74	36	15	and	and	CCONJ
ajfa-74	36	16	equity	equity	NOUN
ajfa-74	36	17	markets	market	NOUN
ajfa-74	36	18	since	since	SCONJ
ajfa-74	36	19	september	september	PROPN
ajfa-74	36	20	1992	1992	NUM
ajfa-74	36	21	,	,	PUNCT
ajfa-74	36	22	though	though	SCONJ
ajfa-74	36	23	fiis	fiis	ADJ
ajfa-74	36	24	investment	investment	NOUN
ajfa-74	36	25	in	in	ADP
ajfa-74	36	26	shares	share	NOUN
ajfa-74	36	27	and	and	CCONJ
ajfa-74	36	28	debentures	debenture	NOUN
ajfa-74	36	29	began	begin	VERB
ajfa-74	36	30	only	only	ADV
ajfa-74	36	31	in	in	ADP
ajfa-74	36	32	january	january	PROPN
ajfa-74	36	33	1993	1993	NUM
ajfa-74	36	34	.	.	PUNCT
ajfa-74	37	1	prior	prior	ADV
ajfa-74	37	2	to	to	ADP
ajfa-74	37	3	1992	1992	NUM
ajfa-74	37	4	only	only	ADV
ajfa-74	37	5	non	non	ADJ
ajfa-74	37	6	residents	resident	NOUN
ajfa-74	37	7	indians	indians	PROPN
ajfa-74	37	8	(	(	PUNCT
ajfa-74	37	9	nris	nris	NOUN
ajfa-74	37	10	)	)	PUNCT
ajfa-74	37	11	and	and	CCONJ
ajfa-74	37	12	overseas	overseas	ADJ
ajfa-74	37	13	corporate	corporate	ADJ
ajfa-74	37	14	bodies	body	NOUN
ajfa-74	37	15	(	(	PUNCT
ajfa-74	37	16	ocbs	ocbs	X
ajfa-74	37	17	)	)	PUNCT
ajfa-74	37	18	could	could	AUX
ajfa-74	37	19	undertake	undertake	VERB
ajfa-74	37	20	portfolio	portfolio	NOUN
ajfa-74	37	21	investment	investment	NOUN
ajfa-74	37	22	in	in	ADP
ajfa-74	37	23	india	india	PROPN
ajfa-74	37	24	.	.	PUNCT
ajfa-74	38	1	there	there	PRON
ajfa-74	38	2	are	be	VERB
ajfa-74	38	3	two	two	NUM
ajfa-74	38	4	categories	category	NOUN
ajfa-74	38	5	of	of	ADP
ajfa-74	38	6	fiis	fiis	NOUN
ajfa-74	38	7	registered	register	VERB
ajfa-74	38	8	in	in	ADP
ajfa-74	38	9	india	india	PROPN
ajfa-74	38	10	;	;	PUNCT
ajfa-74	38	11	normal	normal	ADJ
ajfa-74	38	12	fii	fii	PROPN
ajfa-74	38	13	(	(	PUNCT
ajfa-74	38	14	70:30	70:30	NUM
ajfa-74	38	15	route	route	NOUN
ajfa-74	38	16	)	)	PUNCT
ajfa-74	38	17	where	where	SCONJ
ajfa-74	38	18	total	total	ADJ
ajfa-74	38	19	investment	investment	NOUN
ajfa-74	38	20	in	in	ADP
ajfa-74	38	21	equity	equity	NOUN
ajfa-74	38	22	and	and	CCONJ
ajfa-74	38	23	equity	equity	NOUN
ajfa-74	38	24	related	relate	VERB
ajfa-74	38	25	instruments	instrument	NOUN
ajfa-74	38	26	can	can	AUX
ajfa-74	38	27	not	not	PART
ajfa-74	38	28	be	be	AUX
ajfa-74	38	29	less	less	ADJ
ajfa-74	38	30	than	than	ADP
ajfa-74	38	31	70	70	NUM
ajfa-74	38	32	%	%	NOUN
ajfa-74	38	33	of	of	ADP
ajfa-74	38	34	the	the	DET
ajfa-74	38	35	aggregate	aggregate	NOUN
ajfa-74	38	36	of	of	ADP
ajfa-74	38	37	all	all	DET
ajfa-74	38	38	investment	investment	NOUN
ajfa-74	38	39	and	and	CCONJ
ajfa-74	38	40	100	100	NUM
ajfa-74	38	41	%	%	NOUN
ajfa-74	38	42	debt	debt	NOUN
ajfa-74	38	43	fii	fii	PROPN
ajfa-74	38	44	where	where	SCONJ
ajfa-74	38	45	100	100	NUM
ajfa-74	38	46	percent	percent	NOUN
ajfa-74	38	47	of	of	ADP
ajfa-74	38	48	the	the	DET
ajfa-74	38	49	investment	investment	NOUN
ajfa-74	38	50	has	have	VERB
ajfa-74	38	51	to	to	PART
ajfa-74	38	52	be	be	AUX
ajfa-74	38	53	made	make	VERB
ajfa-74	38	54	in	in	ADP
ajfa-74	38	55	the	the	DET
ajfa-74	38	56	debt	debt	NOUN
ajfa-74	38	57	security	security	NOUN
ajfa-74	38	58	.	.	PUNCT
ajfa-74	39	1	the	the	DET
ajfa-74	39	2	fiis	fiis	NOUN
ajfa-74	39	3	on	on	ADP
ajfa-74	39	4	their	their	PRON
ajfa-74	39	5	own	own	ADJ
ajfa-74	39	6	behalf	behalf	NOUN
ajfa-74	39	7	can	can	AUX
ajfa-74	39	8	not	not	PART
ajfa-74	39	9	invest	invest	VERB
ajfa-74	39	10	more	more	ADJ
ajfa-74	39	11	than	than	ADP
ajfa-74	39	12	10	10	NUM
ajfa-74	39	13	percent	percent	NOUN
ajfa-74	39	14	of	of	ADP
ajfa-74	39	15	the	the	DET
ajfa-74	39	16	total	total	ADJ
ajfa-74	39	17	issued	issue	VERB
ajfa-74	39	18	capital	capital	NOUN
ajfa-74	39	19	of	of	ADP
ajfa-74	39	20	an	an	DET
ajfa-74	39	21	indian	indian	ADJ
ajfa-74	39	22	company	company	NOUN
ajfa-74	39	23	and	and	CCONJ
ajfa-74	39	24	investment	investment	NOUN
ajfa-74	39	25	on	on	ADP
ajfa-74	39	26	behalf	behalf	NOUN
ajfa-74	39	27	of	of	ADP
ajfa-74	39	28	each	each	DET
ajfa-74	39	29	sub	sub	NOUN
ajfa-74	39	30	account	account	NOUN
ajfa-74	39	31	can	can	AUX
ajfa-74	39	32	not	not	PART
ajfa-74	39	33	exceed	exceed	VERB
ajfa-74	39	34	10	10	NUM
ajfa-74	39	35	%	%	NOUN
ajfa-74	39	36	of	of	ADP
ajfa-74	39	37	the	the	DET
ajfa-74	39	38	total	total	ADJ
ajfa-74	39	39	issued	issue	VERB
ajfa-74	39	40	capital	capital	NOUN
ajfa-74	39	41	of	of	ADP
ajfa-74	39	42	an	an	DET
ajfa-74	39	43	indian	indian	ADJ
ajfa-74	39	44	company	company	NOUN
ajfa-74	39	45	.	.	PUNCT
ajfa-74	40	1	the	the	DET
ajfa-74	40	2	sub	sub	NOUN
ajfa-74	40	3	account	account	NOUN
ajfa-74	40	4	is	be	AUX
ajfa-74	40	5	generally	generally	ADV
ajfa-74	40	6	the	the	DET
ajfa-74	40	7	underlying	underlie	VERB
ajfa-74	40	8	fund	fund	NOUN
ajfa-74	40	9	on	on	ADP
ajfa-74	40	10	whose	whose	DET
ajfa-74	40	11	behalf	behalf	NOUN
ajfa-74	40	12	the	the	DET
ajfa-74	40	13	fiis	fiis	NOUN
ajfa-74	40	14	invest	invest	VERB
ajfa-74	40	15	.	.	PUNCT
ajfa-74	41	1	for	for	ADP
ajfa-74	41	2	the	the	DET
ajfa-74	41	3	sub	sub	NOUN
ajfa-74	41	4	accounts	account	NOUN
ajfa-74	41	5	registered	register	VERB
ajfa-74	41	6	under	under	ADP
ajfa-74	41	7	foreign	foreign	ADJ
ajfa-74	41	8	companies	company	NOUN
ajfa-74	41	9	/	/	SYM
ajfa-74	41	10	individual	individual	ADJ
ajfa-74	41	11	categories	category	NOUN
ajfa-74	41	12	the	the	DET
ajfa-74	41	13	investment	investment	NOUN
ajfa-74	41	14	limit	limit	NOUN
ajfa-74	41	15	is	be	AUX
ajfa-74	41	16	5	5	NUM
ajfa-74	41	17	%	%	NOUN
ajfa-74	41	18	of	of	ADP
ajfa-74	41	19	the	the	DET
ajfa-74	41	20	issued	issue	VERB
ajfa-74	41	21	capital	capital	NOUN
ajfa-74	41	22	.	.	PUNCT
ajfa-74	42	1	the	the	DET
ajfa-74	42	2	fii	fii	PROPN
ajfa-74	42	3	flows	flow	NOUN
ajfa-74	42	4	have	have	VERB
ajfa-74	42	5	to	to	PART
ajfa-74	42	6	follow	follow	VERB
ajfa-74	42	7	the	the	DET
ajfa-74	42	8	guidelines	guideline	NOUN
ajfa-74	42	9	and	and	CCONJ
ajfa-74	42	10	the	the	DET
ajfa-74	42	11	policies	policy	NOUN
ajfa-74	42	12	of	of	ADP
ajfa-74	42	13	both	both	CCONJ
ajfa-74	42	14	the	the	DET
ajfa-74	42	15	sebi	sebi	NOUN
ajfa-74	42	16	(	(	PUNCT
ajfa-74	42	17	securities	security	NOUN
ajfa-74	42	18	and	and	CCONJ
ajfa-74	42	19	exchange	exchange	PROPN
ajfa-74	42	20	board	board	PROPN
ajfa-74	42	21	of	of	ADP
ajfa-74	42	22	india	india	PROPN
ajfa-74	42	23	)	)	PUNCT
ajfa-74	42	24	and	and	CCONJ
ajfa-74	42	25	the	the	DET
ajfa-74	42	26	rbi	rbi	NOUN
ajfa-74	42	27	(	(	PUNCT
ajfa-74	42	28	reserve	reserve	PROPN
ajfa-74	42	29	bank	bank	PROPN
ajfa-74	42	30	of	of	ADP
ajfa-74	42	31	india	india	PROPN
ajfa-74	42	32	)	)	PUNCT
ajfa-74	42	33	in	in	ADP
ajfa-74	42	34	india	india	PROPN
ajfa-74	42	35	.	.	PUNCT
ajfa-74	43	1	the	the	DET
ajfa-74	43	2	sebi	sebi	PROPN
ajfa-74	43	3	fii	fii	PROPN
ajfa-74	43	4	regulations	regulation	NOUN
ajfa-74	43	5	and	and	CCONJ
ajfa-74	43	6	rbi	rbi	NOUN
ajfa-74	43	7	policies	policy	NOUN
ajfa-74	43	8	are	be	AUX
ajfa-74	43	9	amended	amend	VERB
ajfa-74	43	10	and	and	CCONJ
ajfa-74	43	11	modified	modify	VERB
ajfa-74	43	12	periodically	periodically	ADV
ajfa-74	43	13	as	as	SCONJ
ajfa-74	43	14	the	the	DET
ajfa-74	43	15	domestic	domestic	ADJ
ajfa-74	43	16	and	and	CCONJ
ajfa-74	43	17	international	international	ADJ
ajfa-74	43	18	scenarios	scenario	NOUN
ajfa-74	43	19	change	change	VERB
ajfa-74	43	20	.	.	PUNCT
ajfa-74	44	1	in	in	ADP
ajfa-74	44	2	this	this	DET
ajfa-74	44	3	paper	paper	NOUN
ajfa-74	44	4	,	,	PUNCT
ajfa-74	44	5	we	we	PRON
ajfa-74	44	6	make	make	VERB
ajfa-74	44	7	an	an	DET
ajfa-74	44	8	attempt	attempt	NOUN
ajfa-74	44	9	to	to	PART
ajfa-74	44	10	investigate	investigate	VERB
ajfa-74	44	11	if	if	SCONJ
ajfa-74	44	12	domestic	domestic	ADJ
ajfa-74	44	13	financial	financial	ADJ
ajfa-74	44	14	institutional	institutional	ADJ
ajfa-74	44	15	investors	investor	NOUN
ajfa-74	44	16	(	(	PUNCT
ajfa-74	44	17	dfis	dfis	PROPN
ajfa-74	44	18	)	)	PUNCT
ajfa-74	44	19	have	have	VERB
ajfa-74	44	20	a	a	DET
ajfa-74	44	21	home	home	NOUN
ajfa-74	44	22	advantage	advantage	NOUN
ajfa-74	44	23	(	(	PUNCT
ajfa-74	44	24	bias	bias	NOUN
ajfa-74	44	25	)	)	PUNCT
ajfa-74	44	26	over	over	ADP
ajfa-74	44	27	foreign	foreign	ADJ
ajfa-74	44	28	institutional	institutional	ADJ
ajfa-74	44	29	investors	investor	NOUN
ajfa-74	44	30	(	(	PUNCT
ajfa-74	44	31	fiis	fiis	NOUN
ajfa-74	44	32	)	)	PUNCT
ajfa-74	44	33	using	use	VERB
ajfa-74	44	34	a	a	DET
ajfa-74	44	35	data	data	NOUN
ajfa-74	44	36	set	set	VERB
ajfa-74	44	37	of	of	ADP
ajfa-74	44	38	indian	indian	ADJ
ajfa-74	44	39	equity	equity	NOUN
ajfa-74	44	40	market	market	NOUN
ajfa-74	44	41	and	and	CCONJ
ajfa-74	44	42	indian	indian	ADJ
ajfa-74	44	43	debt	debt	NOUN
ajfa-74	44	44	market	market	NOUN
ajfa-74	44	45	from	from	ADP
ajfa-74	44	46	april	april	PROPN
ajfa-74	44	47	2001	2001	NUM
ajfa-74	44	48	to	to	ADP
ajfa-74	44	49	september	september	PROPN
ajfa-74	44	50	2006	2006	NUM
ajfa-74	44	51	.	.	PUNCT
ajfa-74	45	1	we	we	PRON
ajfa-74	45	2	compare	compare	VERB
ajfa-74	45	3	domestic	domestic	ADJ
ajfa-74	45	4	financial	financial	ADJ
ajfa-74	45	5	institutional	institutional	ADJ
ajfa-74	45	6	investment	investment	NOUN
ajfa-74	45	7	(	(	PUNCT
ajfa-74	45	8	dfi	dfi	PROPN
ajfa-74	45	9	is	be	AUX
ajfa-74	45	10	proxied	proxie	VERB
ajfa-74	45	11	by	by	ADP
ajfa-74	45	12	mutual	mutual	ADJ
ajfa-74	45	13	fund	fund	NOUN
ajfa-74	45	14	cash	cash	NOUN
ajfa-74	45	15	flows	flow	NOUN
ajfa-74	45	16	)	)	PUNCT
ajfa-74	45	17	and	and	CCONJ
ajfa-74	45	18	foreign	foreign	ADJ
ajfa-74	45	19	institutional	institutional	ADJ
ajfa-74	45	20	investment	investment	NOUN
ajfa-74	45	21	(	(	PUNCT
ajfa-74	45	22	fii	fii	PROPN
ajfa-74	45	23	)	)	PUNCT
ajfa-74	45	24	.	.	PUNCT
ajfa-74	46	1	such	such	DET
ajfa-74	46	2	a	a	DET
ajfa-74	46	3	comparison	comparison	NOUN
ajfa-74	46	4	is	be	AUX
ajfa-74	46	5	important	important	ADJ
ajfa-74	46	6	because	because	SCONJ
ajfa-74	46	7	in	in	ADP
ajfa-74	46	8	emerging	emerge	VERB
ajfa-74	46	9	markets	market	NOUN
ajfa-74	46	10	,	,	PUNCT
ajfa-74	46	11	local	local	ADJ
ajfa-74	46	12	institutional	institutional	ADJ
ajfa-74	46	13	investors	investor	NOUN
ajfa-74	46	14	are	be	AUX
ajfa-74	46	15	not	not	PART
ajfa-74	46	16	as	as	ADV
ajfa-74	46	17	important	important	ADJ
ajfa-74	46	18	as	as	SCONJ
ajfa-74	46	19	they	they	PRON
ajfa-74	46	20	are	be	AUX
ajfa-74	46	21	in	in	ADP
ajfa-74	46	22	developed	develop	VERB
ajfa-74	46	23	markets	market	NOUN
ajfa-74	46	24	and	and	CCONJ
ajfa-74	46	25	their	their	PRON
ajfa-74	46	26	actions	action	NOUN
ajfa-74	46	27	may	may	AUX
ajfa-74	46	28	at	at	ADP
ajfa-74	46	29	times	time	NOUN
ajfa-74	46	30	be	be	AUX
ajfa-74	46	31	affected	affect	VERB
ajfa-74	46	32	by	by	ADP
ajfa-74	46	33	political	political	ADJ
ajfa-74	46	34	considerations	consideration	NOUN
ajfa-74	46	35	.	.	PUNCT
ajfa-74	47	1	foreign	foreign	ADJ
ajfa-74	47	2	institutional	institutional	ADJ
ajfa-74	47	3	investors	investor	NOUN
ajfa-74	47	4	could	could	AUX
ajfa-74	47	5	do	do	VERB
ajfa-74	47	6	well	well	ADV
ajfa-74	47	7	compared	compare	VERB
ajfa-74	47	8	to	to	ADP
ajfa-74	47	9	domestic	domestic	ADJ
ajfa-74	47	10	institutions	institution	NOUN
ajfa-74	47	11	simply	simply	ADV
ajfa-74	47	12	because	because	SCONJ
ajfa-74	47	13	the	the	DET
ajfa-74	47	14	local	local	ADJ
ajfa-74	47	15	institutions	institution	NOUN
ajfa-74	47	16	are	be	AUX
ajfa-74	47	17	underdeveloped	underdeveloped	ADJ
ajfa-74	47	18	,	,	PUNCT
ajfa-74	47	19	do	do	AUX
ajfa-74	47	20	not	not	PART
ajfa-74	47	21	have	have	VERB
ajfa-74	47	22	access	access	NOUN
ajfa-74	47	23	to	to	ADP
ajfa-74	47	24	valuable	valuable	ADJ
ajfa-74	47	25	information	information	NOUN
ajfa-74	47	26	that	that	SCONJ
ajfa-74	47	27	some	some	DET
ajfa-74	47	28	domestic	domestic	ADJ
ajfa-74	47	29	institutions	institution	NOUN
ajfa-74	47	30	have	have	VERB
ajfa-74	47	31	,	,	PUNCT
ajfa-74	47	32	or	or	CCONJ
ajfa-74	47	33	may	may	AUX
ajfa-74	47	34	even	even	ADV
ajfa-74	47	35	be	be	AUX
ajfa-74	47	36	trading	trade	VERB
ajfa-74	47	37	to	to	PART
ajfa-74	47	38	fulfill	fulfill	VERB
ajfa-74	47	39	political	political	ADJ
ajfa-74	47	40	objectives	objective	NOUN
ajfa-74	47	41	.	.	PUNCT
ajfa-74	48	1	the	the	DET
ajfa-74	48	2	paper	paper	NOUN
ajfa-74	48	3	is	be	AUX
ajfa-74	48	4	organized	organize	VERB
ajfa-74	48	5	as	as	SCONJ
ajfa-74	48	6	follows	follow	VERB
ajfa-74	48	7	.	.	PUNCT
ajfa-74	49	1	in	in	ADP
ajfa-74	49	2	section	section	NOUN
ajfa-74	49	3	2	2	NUM
ajfa-74	49	4	we	we	PRON
ajfa-74	49	5	sketch	sketch	VERB
ajfa-74	49	6	a	a	DET
ajfa-74	49	7	brief	brief	ADJ
ajfa-74	49	8	review	review	NOUN
ajfa-74	49	9	of	of	ADP
ajfa-74	49	10	literature	literature	NOUN
ajfa-74	49	11	and	and	CCONJ
ajfa-74	49	12	testable	testable	ADJ
ajfa-74	49	13	hypotheses	hypothesis	NOUN
ajfa-74	49	14	.	.	PUNCT
ajfa-74	50	1	section	section	NOUN
ajfa-74	50	2	3	3	NUM
ajfa-74	50	3	provides	provide	VERB
ajfa-74	50	4	data	datum	NOUN
ajfa-74	50	5	details	detail	NOUN
ajfa-74	50	6	and	and	CCONJ
ajfa-74	50	7	their	their	PRON
ajfa-74	50	8	sources	source	NOUN
ajfa-74	50	9	.	.	PUNCT
ajfa-74	51	1	estimation	estimation	NOUN
ajfa-74	51	2	results	result	NOUN
ajfa-74	51	3	of	of	ADP
ajfa-74	51	4	home	home	NOUN
ajfa-74	51	5	advantage	advantage	NOUN
ajfa-74	51	6	(	(	PUNCT
ajfa-74	51	7	bias	bias	NOUN
ajfa-74	51	8	)	)	PUNCT
ajfa-74	51	9	in	in	ADP
ajfa-74	51	10	equity	equity	NOUN
ajfa-74	51	11	market	market	NOUN
ajfa-74	51	12	are	be	AUX
ajfa-74	51	13	discussed	discuss	VERB
ajfa-74	51	14	in	in	ADP
ajfa-74	51	15	section	section	NOUN
ajfa-74	51	16	4	4	NUM
ajfa-74	51	17	.	.	PUNCT
ajfa-74	52	1	section	section	NOUN
ajfa-74	52	2	5	5	NUM
ajfa-74	52	3	gives	give	VERB
ajfa-74	52	4	empirical	empirical	ADJ
ajfa-74	52	5	findings	finding	NOUN
ajfa-74	52	6	of	of	ADP
ajfa-74	52	7	home	home	NOUN
ajfa-74	52	8	advantage	advantage	NOUN
ajfa-74	52	9	(	(	PUNCT
ajfa-74	52	10	bias	bias	NOUN
ajfa-74	52	11	)	)	PUNCT
ajfa-74	52	12	in	in	ADP
ajfa-74	52	13	debt	debt	NOUN
ajfa-74	52	14	market	market	NOUN
ajfa-74	52	15	.	.	PUNCT
ajfa-74	53	1	a	a	DET
ajfa-74	53	2	summary	summary	NOUN
ajfa-74	53	3	of	of	ADP
ajfa-74	53	4	the	the	DET
ajfa-74	53	5	findings	finding	NOUN
ajfa-74	53	6	and	and	CCONJ
ajfa-74	53	7	major	major	ADJ
ajfa-74	53	8	conclusions	conclusion	NOUN
ajfa-74	53	9	are	be	AUX
ajfa-74	53	10	described	describe	VERB
ajfa-74	53	11	in	in	ADP
ajfa-74	53	12	section	section	NOUN
ajfa-74	53	13	6	6	NUM
ajfa-74	53	14	.	.	SYM
ajfa-74	53	15	2	2	NUM
ajfa-74	53	16	review	review	NOUN
ajfa-74	53	17	of	of	ADP
ajfa-74	53	18	literature	literature	NOUN
ajfa-74	53	19	and	and	CCONJ
ajfa-74	53	20	testable	testable	ADJ
ajfa-74	53	21	hypotheses	hypothesis	NOUN
ajfa-74	53	22	the	the	DET
ajfa-74	53	23	international	international	ADJ
ajfa-74	53	24	capm	capm	PROPN
ajfa-74	53	25	of	of	ADP
ajfa-74	53	26	frankel	frankel	PROPN
ajfa-74	53	27	(	(	PUNCT
ajfa-74	53	28	1982	1982	NUM
ajfa-74	53	29	)	)	PUNCT
ajfa-74	53	30	provides	provide	VERB
ajfa-74	53	31	a	a	DET
ajfa-74	53	32	utility	utility	NOUN
ajfa-74	53	33	-	-	PUNCT
ajfa-74	53	34	maximization	maximization	NOUN
ajfa-74	53	35	model	model	NOUN
ajfa-74	53	36	of	of	ADP
ajfa-74	53	37	international	international	ADJ
ajfa-74	53	38	asset	asset	NOUN
ajfa-74	53	39	diversification	diversification	NOUN
ajfa-74	53	40	.	.	PUNCT
ajfa-74	54	1	the	the	DET
ajfa-74	54	2	international	international	ADJ
ajfa-74	54	3	capm	capm	PROPN
ajfa-74	54	4	implies	imply	VERB
ajfa-74	54	5	that	that	SCONJ
ajfa-74	54	6	the	the	DET
ajfa-74	54	7	total	total	ADJ
ajfa-74	54	8	portfolio	portfolio	NOUN
ajfa-74	54	9	risk	risk	NOUN
ajfa-74	54	10	can	can	AUX
ajfa-74	54	11	be	be	AUX
ajfa-74	54	12	reduced	reduce	VERB
ajfa-74	54	13	by	by	ADP
ajfa-74	54	14	holding	hold	VERB
ajfa-74	54	15	foreign	foreign	ADJ
ajfa-74	54	16	assets	asset	NOUN
ajfa-74	54	17	whose	whose	DET
ajfa-74	54	18	returns	return	NOUN
ajfa-74	54	19	are	be	AUX
ajfa-74	54	20	negatively	negatively	ADV
ajfa-74	54	21	correlated	correlate	VERB
ajfa-74	54	22	with	with	ADP
ajfa-74	54	23	the	the	DET
ajfa-74	54	24	returns	return	NOUN
ajfa-74	54	25	of	of	ADP
ajfa-74	54	26	the	the	DET
ajfa-74	54	27	home	home	NOUN
ajfa-74	54	28	country	country	NOUN
ajfa-74	54	29	assets	asset	NOUN
ajfa-74	54	30	.	.	PUNCT
ajfa-74	55	1	this	this	PRON
ajfa-74	55	2	suggests	suggest	VERB
ajfa-74	55	3	that	that	SCONJ
ajfa-74	55	4	the	the	DET
ajfa-74	55	5	cross	cross	ADJ
ajfa-74	55	6	-	-	ADJ
ajfa-74	55	7	border	border	ADJ
ajfa-74	55	8	equity	equity	NOUN
ajfa-74	55	9	holdings	holding	NOUN
ajfa-74	55	10	are	be	AUX
ajfa-74	55	11	(	(	PUNCT
ajfa-74	55	12	i	i	NOUN
ajfa-74	55	13	)	)	PUNCT
ajfa-74	55	14	negatively	negatively	ADV
ajfa-74	55	15	related	relate	VERB
ajfa-74	55	16	to	to	ADP
ajfa-74	55	17	the	the	DET
ajfa-74	55	18	degree	degree	NOUN
ajfa-74	55	19	of	of	ADP
ajfa-74	55	20	correlation	correlation	NOUN
ajfa-74	55	21	between	between	ADP
ajfa-74	55	22	the	the	DET
ajfa-74	55	23	home	home	NOUN
ajfa-74	55	24	and	and	CCONJ
ajfa-74	55	25	foreign	foreign	ADJ
ajfa-74	55	26	assets	asset	NOUN
ajfa-74	55	27	(	(	PUNCT
ajfa-74	55	28	ii	ii	NOUN
ajfa-74	55	29	)	)	PUNCT
ajfa-74	55	30	positively	positively	ADV
ajfa-74	55	31	related	relate	VERB
ajfa-74	55	32	to	to	ADP
ajfa-74	55	33	the	the	DET
ajfa-74	55	34	returns	return	NOUN
ajfa-74	55	35	of	of	ADP
ajfa-74	55	36	the	the	DET
ajfa-74	55	37	foreign	foreign	ADJ
ajfa-74	55	38	assets	asset	NOUN
ajfa-74	55	39	.	.	PUNCT
ajfa-74	56	1	a	a	DET
ajfa-74	56	2	new	new	ADJ
ajfa-74	56	3	school	school	NOUN
ajfa-74	56	4	of	of	ADP
ajfa-74	56	5	thought	thought	NOUN
ajfa-74	56	6	on	on	ADP
ajfa-74	56	7	the	the	DET
ajfa-74	56	8	home	home	NOUN
ajfa-74	56	9	bias	bias	NOUN
ajfa-74	56	10	puzzle	puzzle	NOUN
ajfa-74	56	11	focuses	focus	VERB
ajfa-74	56	12	on	on	ADP
ajfa-74	56	13	the	the	DET
ajfa-74	56	14	information	information	NOUN
ajfa-74	56	15	-	-	PUNCT
ajfa-74	56	16	based	base	VERB
ajfa-74	56	17	explanations	explanation	NOUN
ajfa-74	56	18	.	.	PUNCT
ajfa-74	57	1	using	use	VERB
ajfa-74	57	2	a	a	DET
ajfa-74	57	3	simple	simple	ADJ
ajfa-74	57	4	model	model	NOUN
ajfa-74	57	5	of	of	ADP
ajfa-74	57	6	investor	investor	NOUN
ajfa-74	57	7	preference	preference	NOUN
ajfa-74	57	8	and	and	CCONJ
ajfa-74	57	9	behaviour	behaviour	NOUN
ajfa-74	57	10	,	,	PUNCT
ajfa-74	57	11	french	french	NOUN
ajfa-74	57	12	and	and	CCONJ
ajfa-74	57	13	poterba	poterba	NOUN
ajfa-74	57	14	(	(	PUNCT
ajfa-74	57	15	1991	1991	NUM
ajfa-74	57	16	)	)	PUNCT
ajfa-74	57	17	demonstrate	demonstrate	VERB
ajfa-74	57	18	that	that	SCONJ
ajfa-74	57	19	information	information	NOUN
ajfa-74	57	20	asymmetry	asymmetry	NOUN
ajfa-74	57	21	can	can	AUX
ajfa-74	57	22	generate	generate	VERB
ajfa-74	57	23	the	the	DET
ajfa-74	57	24	same	same	ADJ
ajfa-74	57	25	observed	observed	ADJ
ajfa-74	57	26	portfolio	portfolio	NOUN
ajfa-74	57	27	patterns	pattern	NOUN
ajfa-74	57	28	as	as	SCONJ
ajfa-74	57	29	if	if	SCONJ
ajfa-74	57	30	the	the	DET
ajfa-74	57	31	investors	investor	NOUN
ajfa-74	57	32	expect	expect	VERB
ajfa-74	57	33	the	the	DET
ajfa-74	57	34	domestic	domestic	ADJ
ajfa-74	57	35	equity	equity	NOUN
ajfa-74	57	36	returns	return	NOUN
ajfa-74	57	37	to	to	PART
ajfa-74	57	38	be	be	AUX
ajfa-74	57	39	several	several	ADJ
ajfa-74	57	40	hundred	hundred	NUM
ajfa-74	57	41	basis	basis	NOUN
ajfa-74	57	42	points	point	NOUN
ajfa-74	57	43	higher	high	ADJ
ajfa-74	57	44	than	than	ADP
ajfa-74	57	45	the	the	DET
ajfa-74	57	46	returns	return	NOUN
ajfa-74	57	47	in	in	ADP
ajfa-74	57	48	the	the	DET
ajfa-74	57	49	foreign	foreign	ADJ
ajfa-74	57	50	markets	market	NOUN
ajfa-74	57	51	.	.	PUNCT
ajfa-74	58	1	gehrig	gehrig	NOUN
ajfa-74	58	2	(	(	PUNCT
ajfa-74	58	3	1993	1993	NUM
ajfa-74	58	4	)	)	PUNCT
ajfa-74	58	5	models	model	VERB
ajfa-74	58	6	the	the	DET
ajfa-74	58	7	information	information	NOUN
ajfa-74	58	8	asymmetry	asymmetry	NOUN
ajfa-74	58	9	between	between	ADP
ajfa-74	58	10	domestic	domestic	ADJ
ajfa-74	58	11	and	and	CCONJ
ajfa-74	58	12	foreign	foreign	ADJ
ajfa-74	58	13	assets	asset	NOUN
ajfa-74	58	14	by	by	ADP
ajfa-74	58	15	using	use	VERB
ajfa-74	58	16	a	a	DET
ajfa-74	58	17	model	model	NOUN
ajfa-74	58	18	where	where	SCONJ
ajfa-74	58	19	investors	investor	NOUN
ajfa-74	58	20	observe	observe	VERB
ajfa-74	58	21	noisy	noisy	ADJ
ajfa-74	58	22	signals	signal	NOUN
ajfa-74	58	23	of	of	ADP
ajfa-74	58	24	firms	firm	NOUN
ajfa-74	58	25	'	'	PART
ajfa-74	58	26	returns	return	NOUN
ajfa-74	58	27	with	with	ADP
ajfa-74	58	28	different	different	ADJ
ajfa-74	58	29	degrees	degree	NOUN
ajfa-74	58	30	of	of	ADP
ajfa-74	58	31	precision	precision	NOUN
ajfa-74	58	32	.	.	PUNCT
ajfa-74	59	1	domestic	domestic	ADJ
ajfa-74	59	2	bias	bias	NOUN
ajfa-74	59	3	arises	arise	VERB
ajfa-74	59	4	from	from	ADP
ajfa-74	59	5	better	well	ADJ
ajfa-74	59	6	investor	investor	NOUN
ajfa-74	59	7	information	information	NOUN
ajfa-74	59	8	about	about	ADP
ajfa-74	59	9	domestic	domestic	ADJ
ajfa-74	59	10	stocks	stock	NOUN
ajfa-74	59	11	and	and	CCONJ
ajfa-74	59	12	the	the	DET
ajfa-74	59	13	high	high	ADJ
ajfa-74	59	14	risk	risk	NOUN
ajfa-74	59	15	associated	associate	VERB
ajfa-74	59	16	with	with	ADP
ajfa-74	59	17	foreign	foreign	ADJ
ajfa-74	59	18	investments	investment	NOUN
ajfa-74	59	19	.	.	PUNCT
ajfa-74	60	1	hasan	hasan	PROPN
ajfa-74	60	2	asian	asian	PROPN
ajfa-74	60	3	journal	journal	PROPN
ajfa-74	60	4	of	of	ADP
ajfa-74	60	5	finance	finance	PROPN
ajfa-74	60	6	&	&	CCONJ
ajfa-74	60	7	accounting	accounting	PROPN
ajfa-74	60	8	issn	issn	PROPN
ajfa-74	60	9	1946	1946	NUM
ajfa-74	60	10	-	-	PUNCT
ajfa-74	60	11	052x	052x	NOUN
ajfa-74	60	12	2009	2009	NUM
ajfa-74	60	13	,	,	PUNCT
ajfa-74	60	14	vol	vol	NOUN
ajfa-74	60	15	.	.	PROPN
ajfa-74	60	16	1	1	NUM
ajfa-74	60	17	,	,	PUNCT
ajfa-74	60	18	no	no	INTJ
ajfa-74	60	19	.	.	NOUN
ajfa-74	60	20	2	2	NUM
ajfa-74	60	21	:	:	PUNCT
ajfa-74	60	22	e8	e8	PROPN
ajfa-74	60	23	166	166	NUM
ajfa-74	60	24	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-74	60	25	and	and	CCONJ
ajfa-74	60	26	simaan	simaan	PROPN
ajfa-74	60	27	(	(	PUNCT
ajfa-74	60	28	2000	2000	NUM
ajfa-74	60	29	)	)	PUNCT
ajfa-74	60	30	derive	derive	VERB
ajfa-74	60	31	the	the	DET
ajfa-74	60	32	premium	premium	NOUN
ajfa-74	60	33	that	that	PRON
ajfa-74	60	34	an	an	DET
ajfa-74	60	35	investor	investor	NOUN
ajfa-74	60	36	is	be	AUX
ajfa-74	60	37	willing	willing	ADJ
ajfa-74	60	38	to	to	PART
ajfa-74	60	39	pay	pay	VERB
ajfa-74	60	40	to	to	PART
ajfa-74	60	41	buy	buy	VERB
ajfa-74	60	42	the	the	DET
ajfa-74	60	43	full	full	ADJ
ajfa-74	60	44	information	information	NOUN
ajfa-74	60	45	of	of	ADP
ajfa-74	60	46	the	the	DET
ajfa-74	60	47	mean	mean	ADJ
ajfa-74	60	48	return	return	NOUN
ajfa-74	60	49	vector	vector	NOUN
ajfa-74	60	50	and	and	CCONJ
ajfa-74	60	51	show	show	VERB
ajfa-74	60	52	that	that	SCONJ
ajfa-74	60	53	rational	rational	ADJ
ajfa-74	60	54	investors	investor	NOUN
ajfa-74	60	55	would	would	AUX
ajfa-74	60	56	prefer	prefer	VERB
ajfa-74	60	57	home	home	NOUN
ajfa-74	60	58	country	country	NOUN
ajfa-74	60	59	demonstrated	demonstrate	VERB
ajfa-74	60	60	portfolios	portfolio	NOUN
ajfa-74	60	61	over	over	ADP
ajfa-74	60	62	diversified	diversified	ADJ
ajfa-74	60	63	portfolios	portfolio	NOUN
ajfa-74	60	64	if	if	SCONJ
ajfa-74	60	65	the	the	DET
ajfa-74	60	66	variability	variability	NOUN
ajfa-74	60	67	of	of	ADP
ajfa-74	60	68	estimation	estimation	NOUN
ajfa-74	60	69	errors	error	NOUN
ajfa-74	60	70	far	far	ADV
ajfa-74	60	71	exceeds	exceed	VERB
ajfa-74	60	72	the	the	DET
ajfa-74	60	73	variability	variability	NOUN
ajfa-74	60	74	of	of	ADP
ajfa-74	60	75	the	the	DET
ajfa-74	60	76	mean	mean	ADJ
ajfa-74	60	77	return	return	NOUN
ajfa-74	60	78	vector	vector	NOUN
ajfa-74	60	79	.	.	PUNCT
ajfa-74	61	1	on	on	ADP
ajfa-74	61	2	the	the	DET
ajfa-74	61	3	empirical	empirical	ADJ
ajfa-74	61	4	side	side	NOUN
ajfa-74	61	5	,	,	PUNCT
ajfa-74	61	6	the	the	DET
ajfa-74	61	7	findings	finding	NOUN
ajfa-74	61	8	of	of	ADP
ajfa-74	61	9	frankel	frankel	NOUN
ajfa-74	61	10	and	and	CCONJ
ajfa-74	61	11	schmukler	schmukler	NOUN
ajfa-74	61	12	(	(	PUNCT
ajfa-74	61	13	2000	2000	NUM
ajfa-74	61	14	)	)	PUNCT
ajfa-74	61	15	from	from	ADP
ajfa-74	61	16	country	country	NOUN
ajfa-74	61	17	mutual	mutual	ADJ
ajfa-74	61	18	fund	fund	NOUN
ajfa-74	61	19	data	datum	NOUN
ajfa-74	61	20	support	support	VERB
ajfa-74	61	21	the	the	DET
ajfa-74	61	22	hypothesis	hypothesis	NOUN
ajfa-74	61	23	of	of	ADP
ajfa-74	61	24	asymmetric	asymmetric	ADJ
ajfa-74	61	25	information	information	NOUN
ajfa-74	61	26	,	,	PUNCT
ajfa-74	61	27	according	accord	VERB
ajfa-74	61	28	to	to	ADP
ajfa-74	61	29	which	which	PRON
ajfa-74	61	30	the	the	DET
ajfa-74	61	31	holders	holder	NOUN
ajfa-74	61	32	of	of	ADP
ajfa-74	61	33	the	the	DET
ajfa-74	61	34	underlying	underlie	VERB
ajfa-74	61	35	assets	asset	NOUN
ajfa-74	61	36	have	have	AUX
ajfa-74	61	37	more	more	ADJ
ajfa-74	61	38	information	information	NOUN
ajfa-74	61	39	about	about	ADP
ajfa-74	61	40	local	local	ADJ
ajfa-74	61	41	assets	asset	NOUN
ajfa-74	61	42	than	than	ADP
ajfa-74	61	43	country	country	NOUN
ajfa-74	61	44	fund	fund	NOUN
ajfa-74	61	45	share	share	NOUN
ajfa-74	61	46	holders	holder	NOUN
ajfa-74	61	47	.	.	PUNCT
ajfa-74	62	1	similarly	similarly	ADV
ajfa-74	62	2	,	,	PUNCT
ajfa-74	62	3	using	use	VERB
ajfa-74	62	4	data	datum	NOUN
ajfa-74	62	5	on	on	ADP
ajfa-74	62	6	foreign	foreign	ADJ
ajfa-74	62	7	stock	stock	NOUN
ajfa-74	62	8	ownership	ownership	NOUN
ajfa-74	62	9	in	in	ADP
ajfa-74	62	10	japan	japan	PROPN
ajfa-74	62	11	,	,	PUNCT
ajfa-74	62	12	kang	kang	PROPN
ajfa-74	62	13	and	and	CCONJ
ajfa-74	62	14	stulz	stulz	ADJ
ajfa-74	62	15	(	(	PUNCT
ajfa-74	62	16	1997	1997	NUM
ajfa-74	62	17	)	)	PUNCT
ajfa-74	62	18	find	find	VERB
ajfa-74	62	19	that	that	SCONJ
ajfa-74	62	20	foreign	foreign	ADJ
ajfa-74	62	21	investors	investor	NOUN
ajfa-74	62	22	overweight	overweight	VERB
ajfa-74	62	23	shares	share	NOUN
ajfa-74	62	24	of	of	ADP
ajfa-74	62	25	firms	firm	NOUN
ajfa-74	62	26	whose	whose	DET
ajfa-74	62	27	information	information	NOUN
ajfa-74	62	28	are	be	AUX
ajfa-74	62	29	more	more	ADV
ajfa-74	62	30	readily	readily	ADV
ajfa-74	62	31	available	available	ADJ
ajfa-74	62	32	.	.	PUNCT
ajfa-74	63	1	these	these	DET
ajfa-74	63	2	firms	firm	NOUN
ajfa-74	63	3	include	include	VERB
ajfa-74	63	4	large	large	ADJ
ajfa-74	63	5	firms	firm	NOUN
ajfa-74	63	6	in	in	ADP
ajfa-74	63	7	the	the	DET
ajfa-74	63	8	manufacturing	manufacturing	NOUN
ajfa-74	63	9	industries	industry	NOUN
ajfa-74	63	10	and	and	CCONJ
ajfa-74	63	11	firms	firm	NOUN
ajfa-74	63	12	with	with	ADP
ajfa-74	63	13	good	good	ADJ
ajfa-74	63	14	accounting	accounting	NOUN
ajfa-74	63	15	performance	performance	NOUN
ajfa-74	63	16	etc	etc	X
ajfa-74	63	17	..	..	X
ajfa-74	63	18	they	they	PRON
ajfa-74	63	19	find	find	VERB
ajfa-74	63	20	that	that	SCONJ
ajfa-74	63	21	there	there	PRON
ajfa-74	63	22	is	be	VERB
ajfa-74	63	23	no	no	DET
ajfa-74	63	24	evidence	evidence	NOUN
ajfa-74	63	25	that	that	SCONJ
ajfa-74	63	26	foreign	foreign	ADJ
ajfa-74	63	27	ownership	ownership	NOUN
ajfa-74	63	28	is	be	AUX
ajfa-74	63	29	related	relate	VERB
ajfa-74	63	30	to	to	ADP
ajfa-74	63	31	the	the	DET
ajfa-74	63	32	expected	expect	VERB
ajfa-74	63	33	returns	return	NOUN
ajfa-74	63	34	.	.	PUNCT
ajfa-74	64	1	moreover	moreover	ADV
ajfa-74	64	2	,	,	PUNCT
ajfa-74	64	3	portes	porte	NOUN
ajfa-74	64	4	and	and	CCONJ
ajfa-74	64	5	rey	rey	PROPN
ajfa-74	64	6	(	(	PUNCT
ajfa-74	64	7	1999	1999	NUM
ajfa-74	64	8	)	)	PUNCT
ajfa-74	64	9	show	show	VERB
ajfa-74	64	10	that	that	SCONJ
ajfa-74	64	11	the	the	DET
ajfa-74	64	12	gravity	gravity	NOUN
ajfa-74	64	13	model	model	NOUN
ajfa-74	64	14	explains	explain	VERB
ajfa-74	64	15	the	the	DET
ajfa-74	64	16	cross	cross	ADJ
ajfa-74	64	17	-	-	ADJ
ajfa-74	64	18	border	border	ADJ
ajfa-74	64	19	equity	equity	NOUN
ajfa-74	64	20	flows	flow	VERB
ajfa-74	64	21	remarkably	remarkably	ADV
ajfa-74	64	22	well	well	ADV
ajfa-74	64	23	as	as	SCONJ
ajfa-74	64	24	distance	distance	NOUN
ajfa-74	64	25	serves	serve	VERB
ajfa-74	64	26	as	as	ADP
ajfa-74	64	27	a	a	DET
ajfa-74	64	28	good	good	ADJ
ajfa-74	64	29	proxy	proxy	NOUN
ajfa-74	64	30	for	for	ADP
ajfa-74	64	31	information	information	NOUN
ajfa-74	64	32	cost	cost	NOUN
ajfa-74	64	33	.	.	PUNCT
ajfa-74	65	1	however	however	ADV
ajfa-74	65	2	,	,	PUNCT
ajfa-74	65	3	tesar	tesar	ADJ
ajfa-74	65	4	and	and	CCONJ
ajfa-74	65	5	werner	werner	PROPN
ajfa-74	65	6	(	(	PUNCT
ajfa-74	65	7	1995	1995	NUM
ajfa-74	65	8	)	)	PUNCT
ajfa-74	65	9	suggest	suggest	VERB
ajfa-74	65	10	that	that	SCONJ
ajfa-74	65	11	transaction	transaction	NOUN
ajfa-74	65	12	costs	cost	NOUN
ajfa-74	65	13	are	be	AUX
ajfa-74	65	14	unlikely	unlikely	ADJ
ajfa-74	65	15	to	to	PART
ajfa-74	65	16	be	be	AUX
ajfa-74	65	17	an	an	DET
ajfa-74	65	18	explanation	explanation	NOUN
ajfa-74	65	19	for	for	ADP
ajfa-74	65	20	home	home	NOUN
ajfa-74	65	21	bias	bias	NOUN
ajfa-74	65	22	.	.	PUNCT
ajfa-74	66	1	the	the	DET
ajfa-74	66	2	reason	reason	NOUN
ajfa-74	66	3	is	be	AUX
ajfa-74	66	4	that	that	SCONJ
ajfa-74	66	5	a	a	DET
ajfa-74	66	6	higher	high	ADJ
ajfa-74	66	7	transaction	transaction	NOUN
ajfa-74	66	8	cost	cost	NOUN
ajfa-74	66	9	on	on	ADP
ajfa-74	66	10	foreign	foreign	ADJ
ajfa-74	66	11	investment	investment	NOUN
ajfa-74	66	12	should	should	AUX
ajfa-74	66	13	lead	lead	VERB
ajfa-74	66	14	to	to	AUX
ajfa-74	66	15	lower	lower	VERB
ajfa-74	66	16	turnover	turnover	NOUN
ajfa-74	66	17	rates	rate	NOUN
ajfa-74	66	18	on	on	ADP
ajfa-74	66	19	the	the	DET
ajfa-74	66	20	foreign	foreign	ADJ
ajfa-74	66	21	components	component	NOUN
ajfa-74	66	22	of	of	ADP
ajfa-74	66	23	the	the	DET
ajfa-74	66	24	asset	asset	NOUN
ajfa-74	66	25	portfolios	portfolio	NOUN
ajfa-74	66	26	,	,	PUNCT
ajfa-74	66	27	but	but	CCONJ
ajfa-74	66	28	they	they	PRON
ajfa-74	66	29	find	find	VERB
ajfa-74	66	30	that	that	SCONJ
ajfa-74	66	31	the	the	DET
ajfa-74	66	32	portfolio	portfolio	NOUN
ajfa-74	66	33	turnover	turnover	NOUN
ajfa-74	66	34	rates	rate	NOUN
ajfa-74	66	35	are	be	AUX
ajfa-74	66	36	much	much	ADV
ajfa-74	66	37	higher	high	ADJ
ajfa-74	66	38	for	for	ADP
ajfa-74	66	39	foreign	foreign	ADJ
ajfa-74	66	40	than	than	ADP
ajfa-74	66	41	domestic	domestic	ADJ
ajfa-74	66	42	assets	asset	NOUN
ajfa-74	66	43	.	.	PUNCT
ajfa-74	67	1	their	their	PRON
ajfa-74	67	2	finding	finding	NOUN
ajfa-74	67	3	is	be	AUX
ajfa-74	67	4	influential	influential	ADJ
ajfa-74	67	5	but	but	CCONJ
ajfa-74	67	6	controversial	controversial	ADJ
ajfa-74	67	7	.	.	PUNCT
ajfa-74	68	1	warnock	warnock	NOUN
ajfa-74	68	2	(	(	PUNCT
ajfa-74	68	3	2001	2001	NUM
ajfa-74	68	4	)	)	PUNCT
ajfa-74	68	5	suggests	suggest	VERB
ajfa-74	68	6	that	that	SCONJ
ajfa-74	68	7	this	this	DET
ajfa-74	68	8	under	under	ADV
ajfa-74	68	9	-	-	PUNCT
ajfa-74	68	10	weighted	weight	VERB
ajfa-74	68	11	but	but	CCONJ
ajfa-74	68	12	overtraded	overtraded	ADJ
ajfa-74	68	13	puzzle	puzzle	NOUN
ajfa-74	68	14	in	in	ADP
ajfa-74	68	15	foreign	foreign	ADJ
ajfa-74	68	16	equities	equity	NOUN
ajfa-74	68	17	could	could	AUX
ajfa-74	68	18	be	be	AUX
ajfa-74	68	19	due	due	ADJ
ajfa-74	68	20	to	to	ADP
ajfa-74	68	21	the	the	DET
ajfa-74	68	22	intrinsic	intrinsic	ADJ
ajfa-74	68	23	problems	problem	NOUN
ajfa-74	68	24	in	in	ADP
ajfa-74	68	25	estimating	estimate	VERB
ajfa-74	68	26	the	the	DET
ajfa-74	68	27	cross	cross	ADJ
ajfa-74	68	28	-	-	ADJ
ajfa-74	68	29	border	border	ADJ
ajfa-74	68	30	holdings	holding	NOUN
ajfa-74	68	31	(	(	PUNCT
ajfa-74	68	32	a	a	DET
ajfa-74	68	33	stock	stock	NOUN
ajfa-74	68	34	measure	measure	NOUN
ajfa-74	68	35	)	)	PUNCT
ajfa-74	68	36	based	base	VERB
ajfa-74	68	37	on	on	ADP
ajfa-74	68	38	the	the	DET
ajfa-74	68	39	capital	capital	NOUN
ajfa-74	68	40	flow	flow	NOUN
ajfa-74	68	41	data	datum	NOUN
ajfa-74	68	42	(	(	PUNCT
ajfa-74	68	43	a	a	DET
ajfa-74	68	44	flow	flow	NOUN
ajfa-74	68	45	measure	measure	NOUN
ajfa-74	68	46	)	)	PUNCT
ajfa-74	68	47	.	.	PUNCT
ajfa-74	69	1	in	in	ADP
ajfa-74	69	2	the	the	DET
ajfa-74	69	3	background	background	NOUN
ajfa-74	69	4	of	of	ADP
ajfa-74	69	5	the	the	DET
ajfa-74	69	6	above	above	ADJ
ajfa-74	69	7	review	review	NOUN
ajfa-74	69	8	we	we	PRON
ajfa-74	69	9	frame	frame	VERB
ajfa-74	69	10	the	the	DET
ajfa-74	69	11	following	follow	VERB
ajfa-74	69	12	hypotheses	hypothesis	NOUN
ajfa-74	69	13	;	;	PUNCT
ajfa-74	69	14	the	the	DET
ajfa-74	69	15	indian	indian	ADJ
ajfa-74	69	16	equity	equity	NOUN
ajfa-74	69	17	market	market	NOUN
ajfa-74	69	18	provides	provide	VERB
ajfa-74	69	19	home	home	NOUN
ajfa-74	69	20	advantage	advantage	NOUN
ajfa-74	69	21	(	(	PUNCT
ajfa-74	69	22	bias	bias	NOUN
ajfa-74	69	23	)	)	PUNCT
ajfa-74	69	24	to	to	PART
ajfa-74	69	25	dfis	dfis	VERB
ajfa-74	69	26	vis	vis	X
ajfa-74	69	27	-	-	PUNCT
ajfa-74	69	28	a	a	PRON
ajfa-74	69	29	-	-	PUNCT
ajfa-74	69	30	vis	vis	X
ajfa-74	69	31	fiis	fiis	NOUN
ajfa-74	69	32	.	.	PUNCT
ajfa-74	70	1	the	the	DET
ajfa-74	70	2	home	home	NOUN
ajfa-74	70	3	advantage	advantage	NOUN
ajfa-74	70	4	(	(	PUNCT
ajfa-74	70	5	bias	bias	NOUN
ajfa-74	70	6	)	)	PUNCT
ajfa-74	70	7	argument	argument	NOUN
ajfa-74	70	8	does	do	AUX
ajfa-74	70	9	work	work	VERB
ajfa-74	70	10	in	in	ADP
ajfa-74	70	11	the	the	DET
ajfa-74	70	12	indian	indian	ADJ
ajfa-74	70	13	debt	debt	NOUN
ajfa-74	70	14	market	market	NOUN
ajfa-74	70	15	.	.	PUNCT
ajfa-74	71	1	3	3	NUM
ajfa-74	71	2	data	datum	NOUN
ajfa-74	71	3	and	and	CCONJ
ajfa-74	71	4	their	their	PRON
ajfa-74	71	5	sources	source	NOUN
ajfa-74	71	6	to	to	PART
ajfa-74	71	7	study	study	VERB
ajfa-74	71	8	the	the	DET
ajfa-74	71	9	presence	presence	NOUN
ajfa-74	71	10	of	of	ADP
ajfa-74	71	11	home	home	NOUN
ajfa-74	71	12	advantage	advantage	NOUN
ajfa-74	71	13	(	(	PUNCT
ajfa-74	71	14	bias	bias	NOUN
ajfa-74	71	15	)	)	PUNCT
ajfa-74	71	16	in	in	ADP
ajfa-74	71	17	equity	equity	NOUN
ajfa-74	71	18	and	and	CCONJ
ajfa-74	71	19	debt	debt	NOUN
ajfa-74	71	20	segment	segment	NOUN
ajfa-74	71	21	of	of	ADP
ajfa-74	71	22	indian	indian	ADJ
ajfa-74	71	23	capital	capital	NOUN
ajfa-74	71	24	market	market	NOUN
ajfa-74	71	25	,	,	PUNCT
ajfa-74	71	26	we	we	PRON
ajfa-74	71	27	have	have	AUX
ajfa-74	71	28	used	use	VERB
ajfa-74	71	29	two	two	NUM
ajfa-74	71	30	types	type	NOUN
ajfa-74	71	31	of	of	ADP
ajfa-74	71	32	data	datum	NOUN
ajfa-74	71	33	,	,	PUNCT
ajfa-74	71	34	one	one	NUM
ajfa-74	71	35	pertaining	pertain	VERB
ajfa-74	71	36	to	to	ADP
ajfa-74	71	37	equity	equity	NOUN
ajfa-74	71	38	market	market	NOUN
ajfa-74	71	39	and	and	CCONJ
ajfa-74	71	40	the	the	DET
ajfa-74	71	41	other	other	ADJ
ajfa-74	71	42	to	to	ADP
ajfa-74	71	43	debt	debt	NOUN
ajfa-74	71	44	market	market	NOUN
ajfa-74	71	45	in	in	ADP
ajfa-74	71	46	india	india	PROPN
ajfa-74	71	47	.	.	PUNCT
ajfa-74	72	1	we	we	PRON
ajfa-74	72	2	take	take	VERB
ajfa-74	72	3	data	datum	NOUN
ajfa-74	72	4	from	from	ADP
ajfa-74	72	5	the	the	DET
ajfa-74	72	6	websites	website	NOUN
ajfa-74	72	7	of	of	ADP
ajfa-74	72	8	sebi	sebi	NOUN
ajfa-74	72	9	(	(	PUNCT
ajfa-74	72	10	statutory	statutory	ADJ
ajfa-74	72	11	regulator	regulator	NOUN
ajfa-74	72	12	of	of	ADP
ajfa-74	72	13	the	the	DET
ajfa-74	72	14	indian	indian	ADJ
ajfa-74	72	15	capital	capital	NOUN
ajfa-74	72	16	market	market	NOUN
ajfa-74	72	17	since	since	SCONJ
ajfa-74	72	18	1992	1992	NUM
ajfa-74	72	19	,	,	PUNCT
ajfa-74	72	20	www.sebi.gov.in	www.sebi.gov.in	NOUN
ajfa-74	72	21	)	)	PUNCT
ajfa-74	72	22	and	and	CCONJ
ajfa-74	72	23	bse	bse	PROPN
ajfa-74	72	24	(	(	PUNCT
ajfa-74	72	25	bombay	bombay	PROPN
ajfa-74	72	26	stock	stock	PROPN
ajfa-74	72	27	exchange	exchange	PROPN
ajfa-74	72	28	,	,	PUNCT
ajfa-74	72	29	oldest	old	ADJ
ajfa-74	72	30	and	and	CCONJ
ajfa-74	72	31	second	second	ADV
ajfa-74	72	32	largest	large	ADJ
ajfa-74	72	33	stock	stock	NOUN
ajfa-74	72	34	exchange	exchange	NOUN
ajfa-74	72	35	in	in	ADP
ajfa-74	72	36	india	india	PROPN
ajfa-74	72	37	which	which	PRON
ajfa-74	72	38	is	be	AUX
ajfa-74	72	39	in	in	ADP
ajfa-74	72	40	existence	existence	NOUN
ajfa-74	72	41	since	since	SCONJ
ajfa-74	72	42	1875	1875	NUM
ajfa-74	72	43	,	,	PUNCT
ajfa-74	72	44	www.bseindia.com	www.bseindia.com	X
ajfa-74	72	45	)	)	PUNCT
ajfa-74	72	46	.	.	PUNCT
ajfa-74	73	1	both	both	DET
ajfa-74	73	2	sources	source	NOUN
ajfa-74	73	3	are	be	AUX
ajfa-74	73	4	the	the	DET
ajfa-74	73	5	most	most	ADV
ajfa-74	73	6	authentic	authentic	ADJ
ajfa-74	73	7	information	information	NOUN
ajfa-74	73	8	provider	provider	NOUN
ajfa-74	73	9	in	in	ADP
ajfa-74	73	10	india	india	PROPN
ajfa-74	73	11	.	.	PUNCT
ajfa-74	74	1	we	we	PRON
ajfa-74	74	2	have	have	AUX
ajfa-74	74	3	analyzed	analyze	VERB
ajfa-74	74	4	two	two	NUM
ajfa-74	74	5	categories	category	NOUN
ajfa-74	74	6	of	of	ADP
ajfa-74	74	7	investors	investor	NOUN
ajfa-74	74	8	;	;	PUNCT
ajfa-74	74	9	the	the	DET
ajfa-74	74	10	first	first	ADJ
ajfa-74	74	11	being	be	AUX
ajfa-74	74	12	investment	investment	NOUN
ajfa-74	74	13	by	by	ADP
ajfa-74	74	14	domestic	domestic	ADJ
ajfa-74	74	15	financial	financial	ADJ
ajfa-74	74	16	institutional	institutional	ADJ
ajfa-74	74	17	investors	investor	NOUN
ajfa-74	74	18	(	(	PUNCT
ajfa-74	74	19	dfis	dfis	ADJ
ajfa-74	74	20	)	)	PUNCT
ajfa-74	74	21	proxied	proxie	VERB
ajfa-74	74	22	by	by	ADP
ajfa-74	74	23	mutual	mutual	ADJ
ajfa-74	74	24	fund	fund	NOUN
ajfa-74	74	25	investment	investment	NOUN
ajfa-74	74	26	and	and	CCONJ
ajfa-74	74	27	the	the	DET
ajfa-74	74	28	second	second	ADJ
ajfa-74	74	29	being	be	AUX
ajfa-74	74	30	the	the	DET
ajfa-74	74	31	investment	investment	NOUN
ajfa-74	74	32	by	by	ADP
ajfa-74	74	33	foreign	foreign	ADJ
ajfa-74	74	34	institutional	institutional	ADJ
ajfa-74	74	35	investors	investor	NOUN
ajfa-74	74	36	(	(	PUNCT
ajfa-74	74	37	fiis	fiis	NOUN
ajfa-74	74	38	)	)	PUNCT
ajfa-74	74	39	4	4	NUM
ajfa-74	74	40	.	.	PUNCT
ajfa-74	74	41	mutual	mutual	ADJ
ajfa-74	74	42	fund	fund	NOUN
ajfa-74	74	43	investment	investment	NOUN
ajfa-74	74	44	is	be	AUX
ajfa-74	74	45	taken	take	VERB
ajfa-74	74	46	as	as	ADP
ajfa-74	74	47	a	a	DET
ajfa-74	74	48	proxy	proxy	NOUN
ajfa-74	74	49	for	for	ADP
ajfa-74	74	50	domestic	domestic	ADJ
ajfa-74	74	51	financial	financial	ADJ
ajfa-74	74	52	institutional	institutional	ADJ
ajfa-74	74	53	investment	investment	NOUN
ajfa-74	74	54	(	(	PUNCT
ajfa-74	74	55	dfi	dfi	PROPN
ajfa-74	74	56	)	)	PUNCT
ajfa-74	74	57	because	because	SCONJ
ajfa-74	74	58	of	of	ADP
ajfa-74	74	59	its	its	PRON
ajfa-74	74	60	growing	grow	VERB
ajfa-74	74	61	importance	importance	NOUN
ajfa-74	74	62	in	in	ADP
ajfa-74	74	63	the	the	DET
ajfa-74	74	64	indian	indian	ADJ
ajfa-74	74	65	stock	stock	NOUN
ajfa-74	74	66	market	market	NOUN
ajfa-74	74	67	capturing	capture	VERB
ajfa-74	74	68	about	about	ADV
ajfa-74	74	69	30	30	NUM
ajfa-74	74	70	percent	percent	NOUN
ajfa-74	74	71	of	of	ADP
ajfa-74	74	72	total	total	ADJ
ajfa-74	74	73	domestic	domestic	ADJ
ajfa-74	74	74	institutional	institutional	ADJ
ajfa-74	74	75	investment	investment	NOUN
ajfa-74	74	76	in	in	ADP
ajfa-74	74	77	india	india	PROPN
ajfa-74	74	78	.	.	PUNCT
ajfa-74	75	1	further	far	ADV
ajfa-74	75	2	,	,	PUNCT
ajfa-74	75	3	our	our	PRON
ajfa-74	75	4	analysis	analysis	NOUN
ajfa-74	75	5	includes	include	VERB
ajfa-74	75	6	all	all	DET
ajfa-74	75	7	the	the	DET
ajfa-74	75	8	fii	fii	PROPN
ajfa-74	75	9	(	(	PUNCT
ajfa-74	75	10	foreign	foreign	ADJ
ajfa-74	75	11	institutional	institutional	ADJ
ajfa-74	75	12	investment	investment	NOUN
ajfa-74	75	13	)	)	PUNCT
ajfa-74	75	14	flows	flow	VERB
ajfa-74	75	15	rather	rather	ADV
ajfa-74	75	16	than	than	ADP
ajfa-74	75	17	one	one	NUM
ajfa-74	75	18	subset	subset	NOUN
ajfa-74	75	19	of	of	ADP
ajfa-74	75	20	fii	fii	PROPN
ajfa-74	75	21	flows	flow	NOUN
ajfa-74	75	22	as	as	ADP
ajfa-74	75	23	the	the	DET
ajfa-74	75	24	data	datum	NOUN
ajfa-74	75	25	for	for	ADP
ajfa-74	75	26	each	each	DET
ajfa-74	75	27	subset	subset	NOUN
ajfa-74	75	28	of	of	ADP
ajfa-74	75	29	fii	fii	PROPN
ajfa-74	75	30	is	be	AUX
ajfa-74	75	31	not	not	PART
ajfa-74	75	32	publicly	publicly	ADV
ajfa-74	75	33	available	available	ADJ
ajfa-74	75	34	in	in	ADP
ajfa-74	75	35	india	india	PROPN
ajfa-74	75	36	.	.	PUNCT
ajfa-74	76	1	asian	asian	PROPN
ajfa-74	76	2	journal	journal	PROPN
ajfa-74	76	3	of	of	ADP
ajfa-74	76	4	finance	finance	PROPN
ajfa-74	76	5	&	&	CCONJ
ajfa-74	76	6	accounting	accounting	PROPN
ajfa-74	76	7	issn	issn	PROPN
ajfa-74	76	8	1946	1946	NUM
ajfa-74	76	9	-	-	PUNCT
ajfa-74	76	10	052x	052x	NOUN
ajfa-74	76	11	2009	2009	NUM
ajfa-74	76	12	,	,	PUNCT
ajfa-74	76	13	vol	vol	NOUN
ajfa-74	76	14	.	.	PROPN
ajfa-74	76	15	1	1	NUM
ajfa-74	76	16	,	,	PUNCT
ajfa-74	76	17	no	no	INTJ
ajfa-74	76	18	.	.	NOUN
ajfa-74	76	19	2	2	NUM
ajfa-74	76	20	:	:	PUNCT
ajfa-74	76	21	e8	e8	PROPN
ajfa-74	76	22	167	167	NUM
ajfa-74	76	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	AUX
ajfa-74	76	24	monthly	monthly	ADJ
ajfa-74	76	25	mutual	mutual	ADJ
ajfa-74	76	26	fund	fund	NOUN
ajfa-74	76	27	data	datum	NOUN
ajfa-74	76	28	and	and	CCONJ
ajfa-74	76	29	monthly	monthly	ADJ
ajfa-74	76	30	fii	fii	PROPN
ajfa-74	76	31	data	datum	NOUN
ajfa-74	76	32	in	in	ADP
ajfa-74	76	33	equity	equity	NOUN
ajfa-74	76	34	and	and	CCONJ
ajfa-74	76	35	debt	debt	NOUN
ajfa-74	76	36	are	be	AUX
ajfa-74	76	37	taken	take	VERB
ajfa-74	76	38	from	from	ADP
ajfa-74	76	39	the	the	DET
ajfa-74	76	40	sebi	sebi	NOUN
ajfa-74	76	41	website	website	NOUN
ajfa-74	76	42	.	.	PUNCT
ajfa-74	77	1	we	we	PRON
ajfa-74	77	2	take	take	VERB
ajfa-74	77	3	two	two	NUM
ajfa-74	77	4	major	major	ADJ
ajfa-74	77	5	indices	index	NOUN
ajfa-74	77	6	one	one	NUM
ajfa-74	77	7	being	be	AUX
ajfa-74	77	8	bse	bse	NOUN
ajfa-74	77	9	sensex	sensex	NOUN
ajfa-74	77	10	and	and	CCONJ
ajfa-74	77	11	the	the	DET
ajfa-74	77	12	second	second	NOUN
ajfa-74	77	13	is	be	AUX
ajfa-74	77	14	i	i	PROPN
ajfa-74	77	15	-	-	PUNCT
ajfa-74	77	16	sec	sec	PROPN
ajfa-74	77	17	sovereign	sovereign	ADJ
ajfa-74	77	18	bond	bond	NOUN
ajfa-74	77	19	index	index	NOUN
ajfa-74	77	20	(	(	PUNCT
ajfa-74	77	21	i	i	PROPN
ajfa-74	77	22	-	-	PUNCT
ajfa-74	77	23	bex	bex	PROPN
ajfa-74	77	24	)	)	PUNCT
ajfa-74	77	25	(	(	PUNCT
ajfa-74	77	26	from	from	ADP
ajfa-74	77	27	website	website	NOUN
ajfa-74	77	28	of	of	ADP
ajfa-74	77	29	industrial	industrial	ADJ
ajfa-74	77	30	credit	credit	NOUN
ajfa-74	77	31	and	and	CCONJ
ajfa-74	77	32	investment	investment	NOUN
ajfa-74	77	33	corporation	corporation	NOUN
ajfa-74	77	34	of	of	ADP
ajfa-74	77	35	india	india	PROPN
ajfa-74	77	36	,	,	PUNCT
ajfa-74	77	37	www.icicisecurities.com	www.icicisecurities.com	PROPN
ajfa-74	77	38	)	)	PUNCT
ajfa-74	77	39	.	.	PUNCT
ajfa-74	78	1	bse	bse	PROPN
ajfa-74	78	2	sensex	sensex	PROPN
ajfa-74	78	3	is	be	AUX
ajfa-74	78	4	used	use	VERB
ajfa-74	78	5	as	as	ADP
ajfa-74	78	6	equity	equity	NOUN
ajfa-74	78	7	index	index	NOUN
ajfa-74	78	8	and	and	CCONJ
ajfa-74	78	9	i	i	PROPN
ajfa-74	78	10	-	-	PUNCT
ajfa-74	78	11	bex	bex	PROPN
ajfa-74	78	12	is	be	AUX
ajfa-74	78	13	used	use	VERB
ajfa-74	78	14	as	as	ADP
ajfa-74	78	15	bond	bond	NOUN
ajfa-74	78	16	index	index	NOUN
ajfa-74	78	17	.	.	PUNCT
ajfa-74	79	1	bse	bse	PROPN
ajfa-74	79	2	sensex	sensex	PROPN
ajfa-74	79	3	is	be	AUX
ajfa-74	79	4	an	an	DET
ajfa-74	79	5	obvious	obvious	ADJ
ajfa-74	79	6	choice	choice	NOUN
ajfa-74	79	7	as	as	SCONJ
ajfa-74	79	8	it	it	PRON
ajfa-74	79	9	is	be	AUX
ajfa-74	79	10	considered	consider	VERB
ajfa-74	79	11	the	the	DET
ajfa-74	79	12	pulse	pulse	NOUN
ajfa-74	79	13	of	of	ADP
ajfa-74	79	14	the	the	DET
ajfa-74	79	15	indian	indian	ADJ
ajfa-74	79	16	stock	stock	NOUN
ajfa-74	79	17	market	market	NOUN
ajfa-74	79	18	and	and	CCONJ
ajfa-74	79	19	mfs	mfs	NOUN
ajfa-74	79	20	and	and	CCONJ
ajfa-74	79	21	fiis	fiis	NOUN
ajfa-74	79	22	do	do	AUX
ajfa-74	79	23	actively	actively	ADV
ajfa-74	79	24	trade	trade	VERB
ajfa-74	79	25	in	in	ADP
ajfa-74	79	26	shares	share	NOUN
ajfa-74	79	27	of	of	ADP
ajfa-74	79	28	the	the	DET
ajfa-74	79	29	companies	company	NOUN
ajfa-74	79	30	that	that	PRON
ajfa-74	79	31	are	be	AUX
ajfa-74	79	32	listed	list	VERB
ajfa-74	79	33	in	in	ADP
ajfa-74	79	34	this	this	DET
ajfa-74	79	35	index	index	NOUN
ajfa-74	79	36	.	.	PUNCT
ajfa-74	80	1	i	i	PRON
ajfa-74	80	2	-	-	PUNCT
ajfa-74	80	3	bex	bex	PROPN
ajfa-74	80	4	is	be	AUX
ajfa-74	80	5	a	a	DET
ajfa-74	80	6	bond	bond	NOUN
ajfa-74	80	7	index	index	NOUN
ajfa-74	80	8	that	that	PRON
ajfa-74	80	9	act	act	VERB
ajfa-74	80	10	as	as	ADP
ajfa-74	80	11	a	a	DET
ajfa-74	80	12	metric	metric	NOUN
ajfa-74	80	13	to	to	PART
ajfa-74	80	14	measure	measure	VERB
ajfa-74	80	15	the	the	DET
ajfa-74	80	16	performance	performance	NOUN
ajfa-74	80	17	of	of	ADP
ajfa-74	80	18	the	the	DET
ajfa-74	80	19	government	government	NOUN
ajfa-74	80	20	securities	security	NOUN
ajfa-74	80	21	market	market	NOUN
ajfa-74	80	22	(	(	PUNCT
ajfa-74	80	23	in	in	ADP
ajfa-74	80	24	india	india	PROPN
ajfa-74	80	25	corporate	corporate	ADJ
ajfa-74	80	26	debt	debt	NOUN
ajfa-74	80	27	market	market	NOUN
ajfa-74	80	28	is	be	AUX
ajfa-74	80	29	still	still	ADV
ajfa-74	80	30	undeveloped	undeveloped	ADJ
ajfa-74	80	31	)	)	PUNCT
ajfa-74	80	32	.	.	PUNCT
ajfa-74	81	1	launched	launch	VERB
ajfa-74	81	2	in	in	ADP
ajfa-74	81	3	1994	1994	NUM
ajfa-74	81	4	,	,	PUNCT
ajfa-74	81	5	it	it	PRON
ajfa-74	81	6	has	have	AUX
ajfa-74	81	7	emerged	emerge	VERB
ajfa-74	81	8	as	as	ADP
ajfa-74	81	9	the	the	DET
ajfa-74	81	10	preferred	preferred	ADJ
ajfa-74	81	11	benchmark	benchmark	NOUN
ajfa-74	81	12	across	across	ADP
ajfa-74	81	13	all	all	DET
ajfa-74	81	14	classes	class	NOUN
ajfa-74	81	15	of	of	ADP
ajfa-74	81	16	market	market	NOUN
ajfa-74	81	17	participants	participant	NOUN
ajfa-74	81	18	.	.	PUNCT
ajfa-74	82	1	recommended	recommend	VERB
ajfa-74	82	2	by	by	ADP
ajfa-74	82	3	association	association	NOUN
ajfa-74	82	4	of	of	ADP
ajfa-74	82	5	mutual	mutual	ADJ
ajfa-74	82	6	funds	fund	NOUN
ajfa-74	82	7	in	in	ADP
ajfa-74	82	8	india	india	PROPN
ajfa-74	82	9	(	(	PUNCT
ajfa-74	82	10	amfi	amfi	PROPN
ajfa-74	82	11	)	)	PUNCT
ajfa-74	82	12	,	,	PUNCT
ajfa-74	82	13	the	the	DET
ajfa-74	82	14	index	index	NOUN
ajfa-74	82	15	is	be	AUX
ajfa-74	82	16	used	use	VERB
ajfa-74	82	17	by	by	ADP
ajfa-74	82	18	fund	fund	NOUN
ajfa-74	82	19	managers	manager	NOUN
ajfa-74	82	20	to	to	PART
ajfa-74	82	21	measure	measure	VERB
ajfa-74	82	22	market	market	NOUN
ajfa-74	82	23	performance	performance	NOUN
ajfa-74	82	24	,	,	PUNCT
ajfa-74	82	25	benchmark	benchmark	VERB
ajfa-74	82	26	the	the	DET
ajfa-74	82	27	performance	performance	NOUN
ajfa-74	82	28	of	of	ADP
ajfa-74	82	29	their	their	PRON
ajfa-74	82	30	portfolios	portfolio	NOUN
ajfa-74	82	31	,	,	PUNCT
ajfa-74	82	32	and	and	CCONJ
ajfa-74	82	33	also	also	ADV
ajfa-74	82	34	as	as	ADP
ajfa-74	82	35	a	a	DET
ajfa-74	82	36	tool	tool	NOUN
ajfa-74	82	37	for	for	ADP
ajfa-74	82	38	quantifying	quantify	VERB
ajfa-74	82	39	risks	risk	NOUN
ajfa-74	82	40	in	in	ADP
ajfa-74	82	41	the	the	DET
ajfa-74	82	42	sovereign	sovereign	ADJ
ajfa-74	82	43	bond	bond	NOUN
ajfa-74	82	44	market	market	NOUN
ajfa-74	82	45	.	.	PUNCT
ajfa-74	83	1	it	it	PRON
ajfa-74	83	2	measures	measure	VERB
ajfa-74	83	3	the	the	DET
ajfa-74	83	4	total	total	ADJ
ajfa-74	83	5	and	and	CCONJ
ajfa-74	83	6	principal	principal	ADJ
ajfa-74	83	7	returns	return	NOUN
ajfa-74	83	8	of	of	ADP
ajfa-74	83	9	the	the	DET
ajfa-74	83	10	respective	respective	ADJ
ajfa-74	83	11	maturity	maturity	NOUN
ajfa-74	83	12	segments	segment	NOUN
ajfa-74	83	13	.	.	PUNCT
ajfa-74	84	1	it	it	PRON
ajfa-74	84	2	has	have	AUX
ajfa-74	84	3	also	also	ADV
ajfa-74	84	4	been	be	AUX
ajfa-74	84	5	extensively	extensively	ADV
ajfa-74	84	6	used	use	VERB
ajfa-74	84	7	by	by	ADP
ajfa-74	84	8	academia	academia	NOUN
ajfa-74	84	9	in	in	ADP
ajfa-74	84	10	india	india	PROPN
ajfa-74	84	11	as	as	ADP
ajfa-74	84	12	a	a	DET
ajfa-74	84	13	bond	bond	NOUN
ajfa-74	84	14	market	market	NOUN
ajfa-74	84	15	proxy	proxy	NOUN
ajfa-74	84	16	.	.	PUNCT
ajfa-74	85	1	the	the	DET
ajfa-74	85	2	price	price	NOUN
ajfa-74	85	3	series	series	NOUN
ajfa-74	85	4	have	have	AUX
ajfa-74	85	5	been	be	AUX
ajfa-74	85	6	converted	convert	VERB
ajfa-74	85	7	into	into	ADP
ajfa-74	85	8	monthly	monthly	ADJ
ajfa-74	85	9	percentage	percentage	NOUN
ajfa-74	85	10	return	return	NOUN
ajfa-74	85	11	series	series	NOUN
ajfa-74	85	12	so	so	SCONJ
ajfa-74	85	13	that	that	SCONJ
ajfa-74	85	14	they	they	PRON
ajfa-74	85	15	are	be	AUX
ajfa-74	85	16	compatible	compatible	ADJ
ajfa-74	85	17	for	for	ADP
ajfa-74	85	18	further	further	ADJ
ajfa-74	85	19	research	research	NOUN
ajfa-74	85	20	.	.	PUNCT
ajfa-74	86	1	returns	return	NOUN
ajfa-74	86	2	are	be	AUX
ajfa-74	86	3	defined	define	VERB
ajfa-74	86	4	as	as	SCONJ
ajfa-74	86	5	follows	follow	VERB
ajfa-74	86	6	.	.	PUNCT
ajfa-74	87	1	rt	rt	PROPN
ajfa-74	87	2	=	=	NOUN
ajfa-74	87	3	ln	ln	PROPN
ajfa-74	87	4	(	(	PUNCT
ajfa-74	87	5	pt	pt	NOUN
ajfa-74	87	6	/	/	SYM
ajfa-74	87	7	pt-1	pt-1	PUNCT
ajfa-74	87	8	)	)	PUNCT
ajfa-74	87	9	*	*	PUNCT
ajfa-74	87	10	100	100	NUM
ajfa-74	87	11	where	where	SCONJ
ajfa-74	87	12	,	,	PUNCT
ajfa-74	87	13	rt	rt	PROPN
ajfa-74	87	14	=	=	NOUN
ajfa-74	87	15	returns	return	NOUN
ajfa-74	87	16	(	(	PUNCT
ajfa-74	87	17	total	total	ADJ
ajfa-74	87	18	returns	return	NOUN
ajfa-74	87	19	including	include	VERB
ajfa-74	87	20	dividends	dividend	NOUN
ajfa-74	87	21	)	)	PUNCT
ajfa-74	87	22	at	at	ADP
ajfa-74	87	23	time	time	NOUN
ajfa-74	87	24	period	period	NOUN
ajfa-74	87	25	t.	t.	PROPN
ajfa-74	87	26	pt	pt	PROPN
ajfa-74	87	27	,	,	PUNCT
ajfa-74	87	28	pt-1	pt-1	PUNCT
ajfa-74	87	29	=	=	VERB
ajfa-74	87	30	closing	closing	NOUN
ajfa-74	87	31	value	value	NOUN
ajfa-74	87	32	of	of	ADP
ajfa-74	87	33	the	the	DET
ajfa-74	87	34	stock	stock	NOUN
ajfa-74	87	35	price	price	NOUN
ajfa-74	87	36	index	index	NOUN
ajfa-74	87	37	at	at	ADP
ajfa-74	87	38	time	time	NOUN
ajfa-74	87	39	t	t	PROPN
ajfa-74	87	40	,	,	PUNCT
ajfa-74	87	41	t-1	t-1	PROPN
ajfa-74	87	42	,	,	PUNCT
ajfa-74	87	43	respectively	respectively	ADV
ajfa-74	87	44	.	.	PUNCT
ajfa-74	88	1	the	the	DET
ajfa-74	88	2	implicit	implicit	ADJ
ajfa-74	88	3	yield	yield	NOUN
ajfa-74	88	4	on	on	ADP
ajfa-74	88	5	the	the	DET
ajfa-74	88	6	91	91	NUM
ajfa-74	88	7	day	day	NOUN
ajfa-74	88	8	treasury	treasury	NOUN
ajfa-74	88	9	bills	bill	NOUN
ajfa-74	88	10	are	be	AUX
ajfa-74	88	11	employed	employ	VERB
ajfa-74	88	12	as	as	ADP
ajfa-74	88	13	a	a	DET
ajfa-74	88	14	measure	measure	NOUN
ajfa-74	88	15	of	of	ADP
ajfa-74	88	16	short	short	ADJ
ajfa-74	88	17	term	term	NOUN
ajfa-74	88	18	indian	indian	ADJ
ajfa-74	88	19	interest	interest	NOUN
ajfa-74	88	20	rates	rate	NOUN
ajfa-74	88	21	as	as	ADP
ajfa-74	88	22	per	per	ADP
ajfa-74	88	23	the	the	DET
ajfa-74	88	24	common	common	ADJ
ajfa-74	88	25	practice	practice	NOUN
ajfa-74	88	26	in	in	ADP
ajfa-74	88	27	investment	investment	NOUN
ajfa-74	88	28	literature	literature	NOUN
ajfa-74	88	29	.	.	PUNCT
ajfa-74	89	1	the	the	DET
ajfa-74	89	2	data	data	NOUN
ajfa-74	89	3	source	source	NOUN
ajfa-74	89	4	for	for	ADP
ajfa-74	89	5	t	t	PROPN
ajfa-74	89	6	-	-	PUNCT
ajfa-74	89	7	bills	bill	NOUN
ajfa-74	89	8	yields	yield	NOUN
ajfa-74	89	9	is	be	AUX
ajfa-74	89	10	the	the	DET
ajfa-74	89	11	rbi	rbi	ADJ
ajfa-74	89	12	website	website	NOUN
ajfa-74	89	13	(	(	PUNCT
ajfa-74	89	14	www.rbi.org.in	www.rbi.org.in	X
ajfa-74	89	15	)	)	PUNCT
ajfa-74	89	16	before	before	ADP
ajfa-74	89	17	2003	2003	NUM
ajfa-74	89	18	,	,	PUNCT
ajfa-74	89	19	fii	fii	PROPN
ajfa-74	89	20	flows	flow	VERB
ajfa-74	89	21	in	in	ADP
ajfa-74	89	22	debt	debt	NOUN
ajfa-74	89	23	were	be	AUX
ajfa-74	89	24	negligible	negligible	ADJ
ajfa-74	89	25	.	.	PUNCT
ajfa-74	90	1	due	due	ADP
ajfa-74	90	2	to	to	ADP
ajfa-74	90	3	the	the	DET
ajfa-74	90	4	non	non	NOUN
ajfa-74	90	5	-	-	NOUN
ajfa-74	90	6	availability	availability	NOUN
ajfa-74	90	7	of	of	ADP
ajfa-74	90	8	fii	fii	PROPN
ajfa-74	90	9	data	datum	NOUN
ajfa-74	90	10	in	in	ADP
ajfa-74	90	11	debt	debt	NOUN
ajfa-74	90	12	time	time	NOUN
ajfa-74	90	13	span	span	NOUN
ajfa-74	90	14	of	of	ADP
ajfa-74	90	15	the	the	DET
ajfa-74	90	16	part	part	NOUN
ajfa-74	90	17	of	of	ADP
ajfa-74	90	18	the	the	DET
ajfa-74	90	19	study	study	NOUN
ajfa-74	90	20	relating	relate	VERB
ajfa-74	90	21	to	to	ADP
ajfa-74	90	22	fii	fii	PROPN
ajfa-74	90	23	flows	flow	NOUN
ajfa-74	90	24	in	in	ADP
ajfa-74	90	25	debt	debt	NOUN
ajfa-74	90	26	market	market	NOUN
ajfa-74	90	27	is	be	AUX
ajfa-74	90	28	jan	jan	PROPN
ajfa-74	90	29	.	.	PROPN
ajfa-74	90	30	2003sept.2006	2003sept.2006	PROPN
ajfa-74	90	31	.	.	PUNCT
ajfa-74	91	1	in	in	ADP
ajfa-74	91	2	order	order	NOUN
ajfa-74	91	3	to	to	PART
ajfa-74	91	4	compare	compare	VERB
ajfa-74	91	5	the	the	DET
ajfa-74	91	6	results	result	NOUN
ajfa-74	91	7	of	of	ADP
ajfa-74	91	8	equity	equity	NOUN
ajfa-74	91	9	market	market	NOUN
ajfa-74	91	10	and	and	CCONJ
ajfa-74	91	11	debt	debt	NOUN
ajfa-74	91	12	market	market	NOUN
ajfa-74	91	13	with	with	ADP
ajfa-74	91	14	respect	respect	NOUN
ajfa-74	91	15	to	to	ADP
ajfa-74	91	16	home	home	NOUN
ajfa-74	91	17	advantage	advantage	NOUN
ajfa-74	91	18	(	(	PUNCT
ajfa-74	91	19	bias	bias	NOUN
ajfa-74	91	20	)	)	PUNCT
ajfa-74	91	21	,	,	PUNCT
ajfa-74	91	22	the	the	DET
ajfa-74	91	23	total	total	ADJ
ajfa-74	91	24	study	study	NOUN
ajfa-74	91	25	period	period	NOUN
ajfa-74	91	26	of	of	ADP
ajfa-74	91	27	equity	equity	NOUN
ajfa-74	91	28	market	market	NOUN
ajfa-74	91	29	is	be	AUX
ajfa-74	91	30	divided	divide	VERB
ajfa-74	91	31	into	into	ADP
ajfa-74	91	32	two	two	NUM
ajfa-74	91	33	sub	sub	NOUN
ajfa-74	91	34	periods	period	NOUN
ajfa-74	91	35	as	as	SCONJ
ajfa-74	91	36	follows	follow	VERB
ajfa-74	91	37	:	:	PUNCT
ajfa-74	91	38	(	(	PUNCT
ajfa-74	91	39	a	a	X
ajfa-74	91	40	)	)	PUNCT
ajfa-74	91	41	jan	jan	PROPN
ajfa-74	91	42	2001	2001	NUM
ajfa-74	91	43	-	-	PUNCT
ajfa-74	91	44	dec.2002	dec.2002	NOUN
ajfa-74	91	45	.	.	PUNCT
ajfa-74	92	1	(	(	PUNCT
ajfa-74	92	2	b	b	NOUN
ajfa-74	92	3	)	)	PUNCT
ajfa-74	92	4	jan	jan	PROPN
ajfa-74	92	5	2003	2003	NUM
ajfa-74	92	6	-	-	PUNCT
ajfa-74	92	7	dec	dec	PROPN
ajfa-74	92	8	.	.	PROPN
ajfa-74	92	9	2006	2006	NUM
ajfa-74	92	10	.	.	PUNCT
ajfa-74	92	11	4	4	NUM
ajfa-74	93	1	evaluating	evaluate	VERB
ajfa-74	93	2	the	the	DET
ajfa-74	93	3	home	home	NOUN
ajfa-74	93	4	advantage	advantage	NOUN
ajfa-74	93	5	(	(	PUNCT
ajfa-74	93	6	bias	bias	NOUN
ajfa-74	93	7	)	)	PUNCT
ajfa-74	93	8	for	for	ADP
ajfa-74	93	9	indian	indian	ADJ
ajfa-74	93	10	equity	equity	NOUN
ajfa-74	93	11	market	market	NOUN
ajfa-74	93	12	we	we	PRON
ajfa-74	93	13	take	take	VERB
ajfa-74	93	14	two	two	NUM
ajfa-74	93	15	forms	form	NOUN
ajfa-74	93	16	of	of	ADP
ajfa-74	93	17	foreign	foreign	ADJ
ajfa-74	93	18	institutional	institutional	ADJ
ajfa-74	93	19	investment	investment	NOUN
ajfa-74	93	20	viz	viz	PROPN
ajfa-74	93	21	.	.	PUNCT
ajfa-74	94	1	fii	fii	PROPN
ajfa-74	94	2	inflows	inflow	NOUN
ajfa-74	94	3	(	(	PUNCT
ajfa-74	94	4	gross	gross	ADJ
ajfa-74	94	5	purchases	purchase	NOUN
ajfa-74	94	6	)	)	PUNCT
ajfa-74	94	7	and	and	CCONJ
ajfa-74	94	8	fii	fii	PROPN
ajfa-74	94	9	outflows	outflow	NOUN
ajfa-74	94	10	(	(	PUNCT
ajfa-74	94	11	gross	gross	ADJ
ajfa-74	94	12	sales	sale	NOUN
ajfa-74	94	13	)	)	PUNCT
ajfa-74	94	14	and	and	CCONJ
ajfa-74	94	15	two	two	NUM
ajfa-74	94	16	forms	form	NOUN
ajfa-74	94	17	of	of	ADP
ajfa-74	94	18	domestic	domestic	ADJ
ajfa-74	94	19	financial	financial	ADJ
ajfa-74	94	20	institutional	institutional	ADJ
ajfa-74	94	21	investment	investment	NOUN
ajfa-74	94	22	proxied	proxie	VERB
ajfa-74	94	23	by	by	ADP
ajfa-74	94	24	mutual	mutual	ADJ
ajfa-74	94	25	fund	fund	NOUN
ajfa-74	94	26	investment	investment	PROPN
ajfa-74	94	27	viz	viz	PROPN
ajfa-74	94	28	.	.	PUNCT
ajfa-74	95	1	mf	mf	NOUN
ajfa-74	95	2	inflows	inflow	NOUN
ajfa-74	95	3	(	(	PUNCT
ajfa-74	95	4	gross	gross	ADJ
ajfa-74	95	5	purchases	purchase	NOUN
ajfa-74	95	6	)	)	PUNCT
ajfa-74	95	7	and	and	CCONJ
ajfa-74	95	8	mf	mf	PRON
ajfa-74	95	9	outflows	outflow	NOUN
ajfa-74	95	10	(	(	PUNCT
ajfa-74	95	11	gross	gross	ADJ
ajfa-74	95	12	sales	sale	NOUN
ajfa-74	95	13	)	)	PUNCT
ajfa-74	95	14	and	and	CCONJ
ajfa-74	95	15	examine	examine	VERB
ajfa-74	95	16	their	their	PRON
ajfa-74	95	17	relationship	relationship	NOUN
ajfa-74	95	18	with	with	ADP
ajfa-74	95	19	selected	select	VERB
ajfa-74	95	20	variables	variable	NOUN
ajfa-74	95	21	viz	viz	PROPN
ajfa-74	95	22	.	.	PUNCT
ajfa-74	96	1	return	return	NOUN
ajfa-74	96	2	on	on	ADP
ajfa-74	96	3	bse	bse	NOUN
ajfa-74	96	4	sensex	sensex	PROPN
ajfa-74	96	5	(	(	PUNCT
ajfa-74	96	6	equity	equity	NOUN
ajfa-74	96	7	market	market	NOUN
ajfa-74	96	8	index	index	NOUN
ajfa-74	96	9	)	)	PUNCT
ajfa-74	96	10	,	,	PUNCT
ajfa-74	96	11	i	i	PROPN
ajfa-74	96	12	-	-	PUNCT
ajfa-74	96	13	bex	bex	PROPN
ajfa-74	96	14	(	(	PUNCT
ajfa-74	96	15	represent	represent	VERB
ajfa-74	96	16	bond	bond	NOUN
ajfa-74	96	17	market	market	NOUN
ajfa-74	96	18	index	index	NOUN
ajfa-74	96	19	)	)	PUNCT
ajfa-74	96	20	and	and	CCONJ
ajfa-74	96	21	short	short	ADJ
ajfa-74	96	22	term	term	NOUN
ajfa-74	96	23	interest	interest	NOUN
ajfa-74	96	24	rates	rate	NOUN
ajfa-74	96	25	(	(	PUNCT
ajfa-74	96	26	represented	represent	VERB
ajfa-74	96	27	by	by	ADP
ajfa-74	96	28	91	91	NUM
ajfa-74	96	29	day	day	NOUN
ajfa-74	96	30	tb	tb	ADP
ajfa-74	96	31	rates	rate	NOUN
ajfa-74	96	32	)	)	PUNCT
ajfa-74	96	33	for	for	ADP
ajfa-74	96	34	equity	equity	NOUN
ajfa-74	96	35	market	market	NOUN
ajfa-74	96	36	and	and	CCONJ
ajfa-74	96	37	bond	bond	NOUN
ajfa-74	96	38	market	market	NOUN
ajfa-74	96	39	segments	segment	NOUN
ajfa-74	96	40	of	of	ADP
ajfa-74	96	41	the	the	DET
ajfa-74	96	42	indian	indian	ADJ
ajfa-74	96	43	capital	capital	NOUN
ajfa-74	96	44	market	market	NOUN
ajfa-74	96	45	.	.	PUNCT
ajfa-74	97	1	before	before	SCONJ
ajfa-74	97	2	testing	test	VERB
ajfa-74	97	3	the	the	DET
ajfa-74	97	4	relationship	relationship	NOUN
ajfa-74	97	5	between	between	ADP
ajfa-74	97	6	fii	fii	PROPN
ajfa-74	97	7	flows/	flows/	PROPN
ajfa-74	97	8	mf	mf	PROPN
ajfa-74	97	9	flows	flow	NOUN
ajfa-74	97	10	http://www.icicisecurities.com/	http://www.icicisecurities.com/	NOUN
ajfa-74	97	11	http://www.rbi.org.in/	http://www.rbi.org.in/	PROPN
ajfa-74	97	12	asian	asian	PROPN
ajfa-74	97	13	journal	journal	PROPN
ajfa-74	97	14	of	of	ADP
ajfa-74	97	15	finance	finance	PROPN
ajfa-74	97	16	&	&	CCONJ
ajfa-74	97	17	accounting	accounting	PROPN
ajfa-74	97	18	issn	issn	PROPN
ajfa-74	97	19	1946	1946	NUM
ajfa-74	97	20	-	-	PUNCT
ajfa-74	97	21	052x	052x	NOUN
ajfa-74	97	22	2009	2009	NUM
ajfa-74	97	23	,	,	PUNCT
ajfa-74	97	24	vol	vol	NOUN
ajfa-74	97	25	.	.	PROPN
ajfa-74	97	26	1	1	NUM
ajfa-74	97	27	,	,	PUNCT
ajfa-74	97	28	no	no	INTJ
ajfa-74	97	29	.	.	NOUN
ajfa-74	97	30	2	2	NUM
ajfa-74	97	31	:	:	PUNCT
ajfa-74	97	32	e8	e8	PROPN
ajfa-74	97	33	168	168	NUM
ajfa-74	97	34	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-74	97	35	and	and	CCONJ
ajfa-74	97	36	selected	select	VERB
ajfa-74	97	37	variables	variable	NOUN
ajfa-74	97	38	,	,	PUNCT
ajfa-74	97	39	stationary	stationary	ADV
ajfa-74	97	40	of	of	ADP
ajfa-74	97	41	all	all	DET
ajfa-74	97	42	the	the	DET
ajfa-74	97	43	variables	variable	NOUN
ajfa-74	97	44	is	be	AUX
ajfa-74	97	45	tested	test	VERB
ajfa-74	97	46	using	use	VERB
ajfa-74	97	47	augmented	augment	VERB
ajfa-74	97	48	dickey	dickey	PROPN
ajfa-74	97	49	fuller	full	ADJ
ajfa-74	97	50	test	test	NOUN
ajfa-74	97	51	.	.	PUNCT
ajfa-74	98	1	the	the	DET
ajfa-74	98	2	calculated	calculate	VERB
ajfa-74	98	3	t	t	PROPN
ajfa-74	98	4	-	-	PUNCT
ajfa-74	98	5	values	value	NOUN
ajfa-74	98	6	of	of	ADP
ajfa-74	98	7	all	all	DET
ajfa-74	98	8	selected	select	VERB
ajfa-74	98	9	variables	variable	NOUN
ajfa-74	98	10	at	at	ADP
ajfa-74	98	11	different	different	ADJ
ajfa-74	98	12	lags	lag	NOUN
ajfa-74	98	13	exceeds	exceed	VERB
ajfa-74	98	14	the	the	DET
ajfa-74	98	15	critical	critical	ADJ
ajfa-74	98	16	values	value	NOUN
ajfa-74	98	17	for	for	ADP
ajfa-74	98	18	1	1	NUM
ajfa-74	98	19	%	%	NOUN
ajfa-74	98	20	,	,	PUNCT
ajfa-74	98	21	5	5	NUM
ajfa-74	98	22	%	%	NOUN
ajfa-74	98	23	and	and	CCONJ
ajfa-74	98	24	10	10	NUM
ajfa-74	98	25	%	%	NOUN
ajfa-74	98	26	significance	significance	NOUN
ajfa-74	98	27	levels	level	NOUN
ajfa-74	98	28	.	.	PUNCT
ajfa-74	99	1	hence	hence	ADV
ajfa-74	99	2	,	,	PUNCT
ajfa-74	99	3	we	we	PRON
ajfa-74	99	4	reject	reject	VERB
ajfa-74	99	5	the	the	DET
ajfa-74	99	6	null	null	ADJ
ajfa-74	99	7	hypothesis	hypothesis	NOUN
ajfa-74	99	8	of	of	ADP
ajfa-74	99	9	a	a	DET
ajfa-74	99	10	unit	unit	NOUN
ajfa-74	99	11	root	root	NOUN
ajfa-74	99	12	and	and	CCONJ
ajfa-74	99	13	conclude	conclude	VERB
ajfa-74	99	14	that	that	SCONJ
ajfa-74	99	15	all	all	DET
ajfa-74	99	16	selected	select	VERB
ajfa-74	99	17	variables	variable	NOUN
ajfa-74	99	18	are	be	AUX
ajfa-74	99	19	stationary	stationary	ADJ
ajfa-74	99	20	.	.	PUNCT
ajfa-74	100	1	next	next	ADV
ajfa-74	100	2	we	we	PRON
ajfa-74	100	3	conduct	conduct	VERB
ajfa-74	100	4	granger	granger	PROPN
ajfa-74	100	5	linear	linear	PROPN
ajfa-74	100	6	causality	causality	NOUN
ajfa-74	100	7	test	test	NOUN
ajfa-74	100	8	in	in	ADP
ajfa-74	100	9	order	order	NOUN
ajfa-74	100	10	to	to	PART
ajfa-74	100	11	select	select	VERB
ajfa-74	100	12	the	the	DET
ajfa-74	100	13	ordering	ordering	NOUN
ajfa-74	100	14	of	of	ADP
ajfa-74	100	15	variables	variable	NOUN
ajfa-74	100	16	.	.	PUNCT
ajfa-74	101	1	granger	granger	PROPN
ajfa-74	101	2	causality	causality	PROPN
ajfa-74	101	3	results	result	NOUN
ajfa-74	101	4	are	be	AUX
ajfa-74	101	5	discussed	discuss	VERB
ajfa-74	101	6	into	into	ADP
ajfa-74	101	7	two	two	NUM
ajfa-74	101	8	categories	category	NOUN
ajfa-74	101	9	,	,	PUNCT
ajfa-74	101	10	in	in	ADP
ajfa-74	101	11	first	first	ADJ
ajfa-74	101	12	category	category	NOUN
ajfa-74	101	13	results	result	NOUN
ajfa-74	101	14	of	of	ADP
ajfa-74	101	15	fii	fii	PROPN
ajfa-74	101	16	and	and	CCONJ
ajfa-74	101	17	other	other	ADJ
ajfa-74	101	18	variables	variable	NOUN
ajfa-74	101	19	are	be	AUX
ajfa-74	101	20	shown	show	VERB
ajfa-74	101	21	(	(	PUNCT
ajfa-74	101	22	table	table	NOUN
ajfa-74	101	23	-1	-1	ADJ
ajfa-74	101	24	,	,	PUNCT
ajfa-74	101	25	panel	panel	NOUN
ajfa-74	101	26	-	-	PUNCT
ajfa-74	101	27	a	a	NOUN
ajfa-74	101	28	)	)	PUNCT
ajfa-74	101	29	,	,	PUNCT
ajfa-74	101	30	in	in	ADP
ajfa-74	101	31	second	second	ADJ
ajfa-74	101	32	category	category	NOUN
ajfa-74	101	33	results	result	NOUN
ajfa-74	101	34	of	of	ADP
ajfa-74	101	35	mf	mf	NOUN
ajfa-74	101	36	and	and	CCONJ
ajfa-74	101	37	other	other	ADJ
ajfa-74	101	38	variables	variable	NOUN
ajfa-74	101	39	are	be	AUX
ajfa-74	101	40	reported	report	VERB
ajfa-74	101	41	(	(	PUNCT
ajfa-74	101	42	table-1	table-1	NOUN
ajfa-74	101	43	,	,	PUNCT
ajfa-74	101	44	panelb	panelb	NOUN
ajfa-74	101	45	)	)	PUNCT
ajfa-74	101	46	.	.	PUNCT
ajfa-74	102	1	in	in	ADP
ajfa-74	102	2	table-1	table-1	NUM
ajfa-74	102	3	,	,	PUNCT
ajfa-74	102	4	panel	panel	NOUN
ajfa-74	102	5	a	a	NOUN
ajfa-74	102	6	and	and	CCONJ
ajfa-74	102	7	panel	panel	NOUN
ajfa-74	102	8	b	b	NOUN
ajfa-74	102	9	,	,	PUNCT
ajfa-74	102	10	we	we	PRON
ajfa-74	102	11	report	report	VERB
ajfa-74	102	12	results	result	NOUN
ajfa-74	102	13	only	only	ADV
ajfa-74	102	14	for	for	ADP
ajfa-74	102	15	total	total	ADJ
ajfa-74	102	16	period	period	NOUN
ajfa-74	102	17	(	(	PUNCT
ajfa-74	102	18	2001	2001	NUM
ajfa-74	102	19	-	-	SYM
ajfa-74	102	20	2006	2006	NUM
ajfa-74	102	21	)	)	PUNCT
ajfa-74	102	22	because	because	SCONJ
ajfa-74	102	23	we	we	PRON
ajfa-74	102	24	find	find	VERB
ajfa-74	102	25	no	no	DET
ajfa-74	102	26	significant	significant	ADJ
ajfa-74	102	27	differences	difference	NOUN
ajfa-74	102	28	in	in	ADP
ajfa-74	102	29	results	result	NOUN
ajfa-74	102	30	for	for	ADP
ajfa-74	102	31	two	two	NUM
ajfa-74	102	32	sub	sub	NOUN
ajfa-74	102	33	-	-	NOUN
ajfa-74	102	34	periods	period	NOUN
ajfa-74	102	35	.	.	PUNCT
ajfa-74	103	1	category-1	category-1	PRON
ajfa-74	103	2	fii	fii	PROPN
ajfa-74	103	3	flows	flow	VERB
ajfa-74	103	4	and	and	CCONJ
ajfa-74	103	5	selected	select	VERB
ajfa-74	103	6	variables	variable	NOUN
ajfa-74	103	7	return	return	VERB
ajfa-74	103	8	on	on	ADP
ajfa-74	103	9	bse	bse	PROPN
ajfa-74	103	10	sensex	sensex	PROPN
ajfa-74	103	11	causes	cause	VERB
ajfa-74	103	12	fii	fii	PROPN
ajfa-74	103	13	inflows	inflow	NOUN
ajfa-74	103	14	(	(	PUNCT
ajfa-74	103	15	gross	gross	ADJ
ajfa-74	103	16	purchases	purchase	NOUN
ajfa-74	103	17	)	)	PUNCT
ajfa-74	103	18	but	but	CCONJ
ajfa-74	103	19	no	no	DET
ajfa-74	103	20	cause	cause	NOUN
ajfa-74	103	21	and	and	CCONJ
ajfa-74	103	22	effect	effect	NOUN
ajfa-74	103	23	relationship	relationship	NOUN
ajfa-74	103	24	have	have	AUX
ajfa-74	103	25	been	be	AUX
ajfa-74	103	26	found	find	VERB
ajfa-74	103	27	between	between	ADP
ajfa-74	103	28	return	return	NOUN
ajfa-74	103	29	on	on	ADP
ajfa-74	103	30	bse	bse	NOUN
ajfa-74	103	31	sensex	sensex	PROPN
ajfa-74	103	32	and	and	CCONJ
ajfa-74	103	33	fii	fii	PROPN
ajfa-74	103	34	outflows	outflow	NOUN
ajfa-74	103	35	.	.	PUNCT
ajfa-74	104	1	we	we	PRON
ajfa-74	104	2	find	find	VERB
ajfa-74	104	3	that	that	SCONJ
ajfa-74	104	4	a	a	DET
ajfa-74	104	5	two	two	NUM
ajfa-74	104	6	-	-	PUNCT
ajfa-74	104	7	way	way	NOUN
ajfa-74	104	8	cause	cause	NOUN
ajfa-74	104	9	and	and	CCONJ
ajfa-74	104	10	effect	effect	NOUN
ajfa-74	104	11	relationship	relationship	NOUN
ajfa-74	104	12	is	be	AUX
ajfa-74	104	13	present	present	ADJ
ajfa-74	104	14	between	between	ADP
ajfa-74	104	15	fii	fii	PROPN
ajfa-74	104	16	inflows	inflow	NOUN
ajfa-74	104	17	and	and	CCONJ
ajfa-74	104	18	short	short	ADJ
ajfa-74	104	19	term	term	NOUN
ajfa-74	104	20	interest	interest	NOUN
ajfa-74	104	21	rates	rate	NOUN
ajfa-74	104	22	and	and	CCONJ
ajfa-74	104	23	fii	fii	PROPN
ajfa-74	104	24	outflows	outflows	PROPN
ajfa-74	104	25	and	and	CCONJ
ajfa-74	104	26	short	short	ADJ
ajfa-74	104	27	term	term	NOUN
ajfa-74	104	28	interest	interest	NOUN
ajfa-74	104	29	rates	rate	NOUN
ajfa-74	104	30	.	.	PUNCT
ajfa-74	105	1	further	far	ADV
ajfa-74	105	2	,	,	PUNCT
ajfa-74	105	3	we	we	PRON
ajfa-74	105	4	find	find	VERB
ajfa-74	105	5	no	no	DET
ajfa-74	105	6	cause	cause	NOUN
ajfa-74	105	7	and	and	CCONJ
ajfa-74	105	8	effect	effect	VERB
ajfa-74	105	9	relationship	relationship	NOUN
ajfa-74	105	10	between	between	ADP
ajfa-74	105	11	return	return	NOUN
ajfa-74	105	12	on	on	ADP
ajfa-74	105	13	bse	bse	NOUN
ajfa-74	105	14	sensex	sensex	PROPN
ajfa-74	105	15	and	and	CCONJ
ajfa-74	105	16	short	short	ADJ
ajfa-74	105	17	term	term	NOUN
ajfa-74	105	18	interest	interest	NOUN
ajfa-74	105	19	rates	rate	NOUN
ajfa-74	105	20	.	.	PUNCT
ajfa-74	106	1	in	in	ADP
ajfa-74	106	2	sum	sum	NOUN
ajfa-74	106	3	,	,	PUNCT
ajfa-74	106	4	bse	bse	PROPN
ajfa-74	106	5	sensex	sensex	PROPN
ajfa-74	106	6	causes	cause	VERB
ajfa-74	106	7	fii	fii	PROPN
ajfa-74	106	8	inflows	inflow	NOUN
ajfa-74	106	9	,	,	PUNCT
ajfa-74	106	10	which	which	PRON
ajfa-74	106	11	in	in	ADP
ajfa-74	106	12	turn	turn	NOUN
ajfa-74	106	13	causes	cause	VERB
ajfa-74	106	14	short	short	ADJ
ajfa-74	106	15	term	term	NOUN
ajfa-74	106	16	interest	interest	NOUN
ajfa-74	106	17	rates	rate	NOUN
ajfa-74	106	18	but	but	CCONJ
ajfa-74	106	19	in	in	ADP
ajfa-74	106	20	case	case	NOUN
ajfa-74	106	21	of	of	ADP
ajfa-74	106	22	the	the	DET
ajfa-74	106	23	latter	latter	ADJ
ajfa-74	106	24	,	,	PUNCT
ajfa-74	106	25	this	this	DET
ajfa-74	106	26	relationship	relationship	NOUN
ajfa-74	106	27	is	be	AUX
ajfa-74	106	28	two	two	NUM
ajfa-74	106	29	way	way	NOUN
ajfa-74	106	30	.	.	PUNCT
ajfa-74	107	1	category-2	category-2	NOUN
ajfa-74	107	2	mf	mf	VERB
ajfa-74	107	3	investment	investment	NOUN
ajfa-74	107	4	and	and	CCONJ
ajfa-74	107	5	selected	select	VERB
ajfa-74	107	6	variables	variable	NOUN
ajfa-74	107	7	return	return	VERB
ajfa-74	107	8	on	on	ADP
ajfa-74	107	9	bse	bse	NOUN
ajfa-74	107	10	sensex	sensex	PROPN
ajfa-74	107	11	causes	cause	VERB
ajfa-74	107	12	both	both	DET
ajfa-74	107	13	mf	mf	NOUN
ajfa-74	107	14	inflows	inflow	NOUN
ajfa-74	107	15	and	and	CCONJ
ajfa-74	107	16	mf	mf	PRON
ajfa-74	107	17	outflows	outflow	NOUN
ajfa-74	107	18	.	.	PUNCT
ajfa-74	108	1	in	in	ADP
ajfa-74	108	2	addition	addition	NOUN
ajfa-74	108	3	we	we	PRON
ajfa-74	108	4	find	find	VERB
ajfa-74	108	5	two	two	NUM
ajfa-74	108	6	way	way	NOUN
ajfa-74	108	7	cause	cause	NOUN
ajfa-74	108	8	and	and	CCONJ
ajfa-74	108	9	effect	effect	VERB
ajfa-74	108	10	relationship	relationship	NOUN
ajfa-74	108	11	exist	exist	VERB
ajfa-74	108	12	between	between	ADP
ajfa-74	108	13	mf	mf	NOUN
ajfa-74	108	14	inflows	inflow	NOUN
ajfa-74	108	15	and	and	CCONJ
ajfa-74	108	16	short	short	ADJ
ajfa-74	108	17	term	term	NOUN
ajfa-74	108	18	interest	interest	NOUN
ajfa-74	108	19	rates	rate	NOUN
ajfa-74	108	20	and	and	CCONJ
ajfa-74	108	21	mf	mf	PRON
ajfa-74	108	22	outflows	outflow	NOUN
ajfa-74	108	23	and	and	CCONJ
ajfa-74	108	24	short	short	ADJ
ajfa-74	108	25	term	term	NOUN
ajfa-74	108	26	interest	interest	NOUN
ajfa-74	108	27	rates	rate	NOUN
ajfa-74	108	28	.	.	PUNCT
ajfa-74	109	1	the	the	DET
ajfa-74	109	2	bilateral	bilateral	ADJ
ajfa-74	109	3	causality	causality	NOUN
ajfa-74	109	4	between	between	ADP
ajfa-74	109	5	fii	fii	PROPN
ajfa-74	109	6	/	/	SYM
ajfa-74	109	7	dfi	dfi	PROPN
ajfa-74	109	8	flows	flow	NOUN
ajfa-74	109	9	and	and	CCONJ
ajfa-74	109	10	short	short	ADJ
ajfa-74	109	11	term	term	NOUN
ajfa-74	109	12	interest	interest	NOUN
ajfa-74	109	13	rates	rate	NOUN
ajfa-74	109	14	in	in	ADP
ajfa-74	109	15	case	case	NOUN
ajfa-74	109	16	of	of	ADP
ajfa-74	109	17	indian	indian	ADJ
ajfa-74	109	18	equity	equity	NOUN
ajfa-74	109	19	market	market	NOUN
ajfa-74	109	20	may	may	AUX
ajfa-74	109	21	be	be	AUX
ajfa-74	109	22	owing	owe	VERB
ajfa-74	109	23	to	to	ADP
ajfa-74	109	24	the	the	DET
ajfa-74	109	25	fact	fact	NOUN
ajfa-74	109	26	that	that	SCONJ
ajfa-74	109	27	active	active	ADJ
ajfa-74	109	28	equity	equity	NOUN
ajfa-74	109	29	buying	buying	NOUN
ajfa-74	109	30	by	by	ADP
ajfa-74	109	31	these	these	DET
ajfa-74	109	32	institutions	institution	NOUN
ajfa-74	109	33	reduces	reduce	VERB
ajfa-74	109	34	the	the	DET
ajfa-74	109	35	demand	demand	NOUN
ajfa-74	109	36	pressure	pressure	NOUN
ajfa-74	109	37	on	on	ADP
ajfa-74	109	38	money	money	NOUN
ajfa-74	109	39	and	and	CCONJ
ajfa-74	109	40	debt	debt	NOUN
ajfa-74	109	41	market	market	NOUN
ajfa-74	109	42	side	side	NOUN
ajfa-74	109	43	.	.	PUNCT
ajfa-74	110	1	this	this	PRON
ajfa-74	110	2	leads	lead	VERB
ajfa-74	110	3	to	to	ADP
ajfa-74	110	4	an	an	DET
ajfa-74	110	5	erosion	erosion	NOUN
ajfa-74	110	6	in	in	ADP
ajfa-74	110	7	the	the	DET
ajfa-74	110	8	values	value	NOUN
ajfa-74	110	9	of	of	ADP
ajfa-74	110	10	fixed	fix	VERB
ajfa-74	110	11	income	income	NOUN
ajfa-74	110	12	instruments	instrument	NOUN
ajfa-74	110	13	and	and	CCONJ
ajfa-74	110	14	causes	cause	VERB
ajfa-74	110	15	interest	interest	NOUN
ajfa-74	110	16	rates	rate	NOUN
ajfa-74	110	17	to	to	PART
ajfa-74	110	18	go	go	VERB
ajfa-74	110	19	up	up	ADP
ajfa-74	110	20	.	.	PUNCT
ajfa-74	111	1	interestingly	interestingly	ADV
ajfa-74	111	2	,	,	PUNCT
ajfa-74	111	3	fiis	fiis	NOUN
ajfa-74	111	4	tend	tend	VERB
ajfa-74	111	5	to	to	PART
ajfa-74	111	6	follow	follow	VERB
ajfa-74	111	7	an	an	DET
ajfa-74	111	8	aggregate	aggregate	ADJ
ajfa-74	111	9	investment	investment	NOUN
ajfa-74	111	10	strategy	strategy	NOUN
ajfa-74	111	11	in	in	ADP
ajfa-74	111	12	india	india	PROPN
ajfa-74	111	13	(	(	PUNCT
ajfa-74	111	14	i.e.	i.e.	X
ajfa-74	111	15	simultaneous	simultaneous	ADJ
ajfa-74	111	16	buying	buying	NOUN
ajfa-74	111	17	and	and	CCONJ
ajfa-74	111	18	selling	selling	NOUN
ajfa-74	111	19	of	of	ADP
ajfa-74	111	20	securities	security	NOUN
ajfa-74	111	21	,	,	PUNCT
ajfa-74	111	22	see	see	VERB
ajfa-74	111	23	sehga	sehga	NOUN
ajfa-74	111	24	and	and	CCONJ
ajfa-74	111	25	tripathi	tripathi	NOUN
ajfa-74	111	26	2006	2006	NUM
ajfa-74	111	27	-	-	SYM
ajfa-74	111	28	07	07	NUM
ajfa-74	111	29	)	)	PUNCT
ajfa-74	111	30	.	.	PUNCT
ajfa-74	112	1	hence	hence	ADV
ajfa-74	112	2	,	,	PUNCT
ajfa-74	112	3	it	it	PRON
ajfa-74	112	4	is	be	AUX
ajfa-74	112	5	relevant	relevant	ADJ
ajfa-74	112	6	to	to	PART
ajfa-74	112	7	keep	keep	VERB
ajfa-74	112	8	fii	fii	PROPN
ajfa-74	112	9	purchases	purchase	NOUN
ajfa-74	112	10	(	(	PUNCT
ajfa-74	112	11	inflows	inflow	NOUN
ajfa-74	112	12	)	)	PUNCT
ajfa-74	112	13	and	and	CCONJ
ajfa-74	112	14	sales	sale	NOUN
ajfa-74	112	15	(	(	PUNCT
ajfa-74	112	16	outflows	outflow	NOUN
ajfa-74	112	17	)	)	PUNCT
ajfa-74	112	18	as	as	ADP
ajfa-74	112	19	a	a	DET
ajfa-74	112	20	separate	separate	ADJ
ajfa-74	112	21	variable	variable	NOUN
ajfa-74	112	22	in	in	ADP
ajfa-74	112	23	the	the	DET
ajfa-74	112	24	study	study	NOUN
ajfa-74	112	25	as	as	ADP
ajfa-74	112	26	net	net	ADJ
ajfa-74	112	27	fii	fii	PROPN
ajfa-74	112	28	flows	flow	NOUN
ajfa-74	112	29	may	may	AUX
ajfa-74	112	30	be	be	AUX
ajfa-74	112	31	very	very	ADV
ajfa-74	112	32	small	small	ADJ
ajfa-74	112	33	on	on	ADP
ajfa-74	112	34	many	many	ADJ
ajfa-74	112	35	occasions	occasion	NOUN
ajfa-74	112	36	and	and	CCONJ
ajfa-74	112	37	lead	lead	VERB
ajfa-74	112	38	to	to	ADP
ajfa-74	112	39	misleading	mislead	VERB
ajfa-74	112	40	results	result	NOUN
ajfa-74	112	41	.	.	PUNCT
ajfa-74	113	1	further	far	ADV
ajfa-74	113	2	,	,	PUNCT
ajfa-74	113	3	fii	fii	PROPN
ajfa-74	113	4	inflows	inflow	NOUN
ajfa-74	113	5	cause	cause	VERB
ajfa-74	113	6	mf	mf	NOUN
ajfa-74	113	7	inflows	inflow	NOUN
ajfa-74	113	8	and	and	CCONJ
ajfa-74	113	9	as	as	SCONJ
ajfa-74	113	10	two	two	NUM
ajfa-74	113	11	-	-	PUNCT
ajfa-74	113	12	way	way	NOUN
ajfa-74	113	13	causality	causality	NOUN
ajfa-74	113	14	seem	seem	VERB
ajfa-74	113	15	to	to	PART
ajfa-74	113	16	be	be	AUX
ajfa-74	113	17	present	present	ADJ
ajfa-74	113	18	between	between	ADP
ajfa-74	113	19	fii	fii	PROPN
ajfa-74	113	20	outflows	outflows	PROPN
ajfa-74	113	21	and	and	CCONJ
ajfa-74	113	22	mf	mf	NOUN
ajfa-74	113	23	outflows	outflow	NOUN
ajfa-74	113	24	.	.	PUNCT
ajfa-74	114	1	we	we	PRON
ajfa-74	114	2	find	find	VERB
ajfa-74	114	3	that	that	SCONJ
ajfa-74	114	4	bse	bse	NOUN
ajfa-74	114	5	returns	return	NOUN
ajfa-74	114	6	determine	determine	VERB
ajfa-74	114	7	fii	fii	PROPN
ajfa-74	114	8	flows	flow	NOUN
ajfa-74	114	9	and	and	CCONJ
ajfa-74	114	10	mf	mf	PRON
ajfa-74	114	11	flows	flow	NOUN
ajfa-74	114	12	while	while	SCONJ
ajfa-74	114	13	the	the	DET
ajfa-74	114	14	fii	fii	PROPN
ajfa-74	114	15	flows	flow	NOUN
ajfa-74	114	16	seem	seem	VERB
ajfa-74	114	17	to	to	PART
ajfa-74	114	18	propel	propel	VERB
ajfa-74	114	19	investment	investment	NOUN
ajfa-74	114	20	by	by	ADP
ajfa-74	114	21	domestic	domestic	ADJ
ajfa-74	114	22	institutional	institutional	ADJ
ajfa-74	114	23	investors	investor	NOUN
ajfa-74	114	24	(	(	PUNCT
ajfa-74	114	25	in	in	ADP
ajfa-74	114	26	our	our	PRON
ajfa-74	114	27	case	case	NOUN
ajfa-74	114	28	proxied	proxie	VERB
ajfa-74	114	29	by	by	ADP
ajfa-74	114	30	mf	mf	NOUN
ajfa-74	114	31	investment	investment	NOUN
ajfa-74	114	32	)	)	PUNCT
ajfa-74	114	33	.	.	PUNCT
ajfa-74	115	1	thus	thus	ADV
ajfa-74	115	2	,	,	PUNCT
ajfa-74	115	3	we	we	PRON
ajfa-74	115	4	can	can	AUX
ajfa-74	115	5	infer	infer	VERB
ajfa-74	115	6	that	that	SCONJ
ajfa-74	115	7	there	there	PRON
ajfa-74	115	8	is	be	VERB
ajfa-74	115	9	no	no	DET
ajfa-74	115	10	visible	visible	ADJ
ajfa-74	115	11	home	home	NOUN
ajfa-74	115	12	advantage	advantage	NOUN
ajfa-74	115	13	to	to	ADP
ajfa-74	115	14	domestic	domestic	ADJ
ajfa-74	115	15	institutional	institutional	ADJ
ajfa-74	115	16	investors	investor	NOUN
ajfa-74	115	17	.	.	PUNCT
ajfa-74	116	1	on	on	ADP
ajfa-74	116	2	the	the	DET
ajfa-74	116	3	contrary	contrary	NOUN
ajfa-74	116	4	,	,	PUNCT
ajfa-74	116	5	domestic	domestic	ADJ
ajfa-74	116	6	institutional	institutional	ADJ
ajfa-74	116	7	investors	investor	NOUN
ajfa-74	116	8	seem	seem	VERB
ajfa-74	116	9	to	to	PART
ajfa-74	116	10	be	be	AUX
ajfa-74	116	11	late	late	ADJ
ajfa-74	116	12	in	in	ADP
ajfa-74	116	13	reacting	react	VERB
ajfa-74	116	14	to	to	ADP
ajfa-74	116	15	market	market	NOUN
ajfa-74	116	16	movements	movement	NOUN
ajfa-74	116	17	compared	compare	VERB
ajfa-74	116	18	to	to	ADP
ajfa-74	116	19	foreign	foreign	ADJ
ajfa-74	116	20	institutional	institutional	ADJ
ajfa-74	116	21	investors	investor	NOUN
ajfa-74	116	22	.	.	PUNCT
ajfa-74	117	1	many	many	ADJ
ajfa-74	117	2	explanations	explanation	NOUN
ajfa-74	117	3	for	for	ADP
ajfa-74	117	4	home	home	NOUN
ajfa-74	117	5	or	or	CCONJ
ajfa-74	117	6	local	local	ADJ
ajfa-74	117	7	bias	bias	NOUN
ajfa-74	117	8	rely	rely	VERB
ajfa-74	117	9	on	on	ADP
ajfa-74	117	10	information	information	NOUN
ajfa-74	117	11	asymmetry	asymmetry	NOUN
ajfa-74	117	12	;	;	PUNCT
ajfa-74	117	13	investors	investor	NOUN
ajfa-74	117	14	know	know	VERB
ajfa-74	117	15	more	more	ADJ
ajfa-74	117	16	about	about	ADP
ajfa-74	117	17	their	their	PRON
ajfa-74	117	18	home	home	NOUN
ajfa-74	117	19	assets	asset	NOUN
ajfa-74	117	20	and	and	CCONJ
ajfa-74	117	21	therefore	therefore	ADV
ajfa-74	117	22	invest	invest	VERB
ajfa-74	117	23	more	more	ADV
ajfa-74	117	24	in	in	ADP
ajfa-74	117	25	home	home	NOUN
ajfa-74	117	26	assets	asset	NOUN
ajfa-74	117	27	.	.	PUNCT
ajfa-74	118	1	our	our	PRON
ajfa-74	118	2	results	result	NOUN
ajfa-74	118	3	imply	imply	VERB
ajfa-74	118	4	that	that	DET
ajfa-74	118	5	informational	informational	ADJ
ajfa-74	118	6	advantage	advantage	NOUN
ajfa-74	118	7	,	,	PUNCT
ajfa-74	118	8	if	if	SCONJ
ajfa-74	118	9	any	any	PRON
ajfa-74	118	10	,	,	PUNCT
ajfa-74	118	11	enjoyed	enjoy	VERB
ajfa-74	118	12	by	by	ADP
ajfa-74	118	13	domestic	domestic	ADJ
ajfa-74	118	14	institutional	institutional	ADJ
ajfa-74	118	15	investors	investor	NOUN
ajfa-74	118	16	is	be	AUX
ajfa-74	118	17	more	more	ADJ
ajfa-74	118	18	than	than	ADP
ajfa-74	118	19	outweighed	outweigh	VERB
ajfa-74	118	20	by	by	ADP
ajfa-74	118	21	the	the	DET
ajfa-74	118	22	superiors	superior	NOUN
ajfa-74	118	23	’	’	PART
ajfa-74	118	24	security	security	NOUN
ajfa-74	118	25	valuation	valuation	NOUN
ajfa-74	118	26	and	and	CCONJ
ajfa-74	118	27	market	market	NOUN
ajfa-74	118	28	timing	timing	NOUN
ajfa-74	118	29	skills	skill	NOUN
ajfa-74	118	30	of	of	ADP
ajfa-74	118	31	foreign	foreign	ADJ
ajfa-74	118	32	institutional	institutional	ADJ
ajfa-74	118	33	investors	investor	NOUN
ajfa-74	118	34	.	.	PUNCT
ajfa-74	119	1	the	the	DET
ajfa-74	119	2	increasing	increase	VERB
ajfa-74	119	3	flow	flow	NOUN
ajfa-74	119	4	of	of	ADP
ajfa-74	119	5	fii	fii	PROPN
ajfa-74	119	6	flows	flow	NOUN
ajfa-74	119	7	in	in	ADP
ajfa-74	119	8	recent	recent	ADJ
ajfa-74	119	9	time	time	NOUN
ajfa-74	119	10	period	period	NOUN
ajfa-74	119	11	also	also	ADV
ajfa-74	119	12	documented	document	VERB
ajfa-74	119	13	our	our	PRON
ajfa-74	119	14	results	result	NOUN
ajfa-74	119	15	.	.	PUNCT
ajfa-74	120	1	the	the	DET
ajfa-74	120	2	results	result	NOUN
ajfa-74	120	3	may	may	AUX
ajfa-74	120	4	also	also	ADV
ajfa-74	120	5	have	have	VERB
ajfa-74	120	6	policy	policy	NOUN
ajfa-74	120	7	implications	implication	NOUN
ajfa-74	120	8	.	.	PUNCT
ajfa-74	121	1	in	in	ADP
ajfa-74	121	2	a	a	DET
ajfa-74	121	3	asian	asian	ADJ
ajfa-74	121	4	journal	journal	NOUN
ajfa-74	121	5	of	of	ADP
ajfa-74	121	6	finance	finance	PROPN
ajfa-74	121	7	&	&	CCONJ
ajfa-74	121	8	accounting	accounting	PROPN
ajfa-74	121	9	issn	issn	PROPN
ajfa-74	121	10	1946	1946	NUM
ajfa-74	121	11	-	-	PUNCT
ajfa-74	121	12	052x	052x	NOUN
ajfa-74	121	13	2009	2009	NUM
ajfa-74	121	14	,	,	PUNCT
ajfa-74	121	15	vol	vol	NOUN
ajfa-74	121	16	.	.	PROPN
ajfa-74	121	17	1	1	NUM
ajfa-74	121	18	,	,	PUNCT
ajfa-74	121	19	no	no	INTJ
ajfa-74	121	20	.	.	NOUN
ajfa-74	121	21	2	2	NUM
ajfa-74	121	22	:	:	PUNCT
ajfa-74	121	23	e8	e8	PROPN
ajfa-74	121	24	169	169	NUM
ajfa-74	121	25	www.macrothink.org/ajfa	www.macrothink.org/ajfa	X
ajfa-74	121	26	country	country	NOUN
ajfa-74	121	27	like	like	ADP
ajfa-74	121	28	india	india	PROPN
ajfa-74	121	29	,	,	PUNCT
ajfa-74	121	30	if	if	SCONJ
ajfa-74	121	31	policy	policy	NOUN
ajfa-74	121	32	makers	maker	NOUN
ajfa-74	121	33	wish	wish	VERB
ajfa-74	121	34	to	to	PART
ajfa-74	121	35	raise	raise	VERB
ajfa-74	121	36	foreign	foreign	ADJ
ajfa-74	121	37	investor	investor	NOUN
ajfa-74	121	38	’s	’s	PART
ajfa-74	121	39	activity	activity	NOUN
ajfa-74	121	40	level	level	NOUN
ajfa-74	121	41	and	and	CCONJ
ajfa-74	121	42	thereby	thereby	ADV
ajfa-74	121	43	enhance	enhance	VERB
ajfa-74	121	44	liquidity	liquidity	NOUN
ajfa-74	121	45	and	and	CCONJ
ajfa-74	121	46	development	development	NOUN
ajfa-74	121	47	of	of	ADP
ajfa-74	121	48	domestic	domestic	ADJ
ajfa-74	121	49	stock	stock	NOUN
ajfa-74	121	50	market	market	NOUN
ajfa-74	121	51	,	,	PUNCT
ajfa-74	121	52	they	they	PRON
ajfa-74	121	53	should	should	AUX
ajfa-74	121	54	consider	consider	VERB
ajfa-74	121	55	measures	measure	NOUN
ajfa-74	121	56	to	to	PART
ajfa-74	121	57	improve	improve	VERB
ajfa-74	121	58	transparency	transparency	NOUN
ajfa-74	121	59	,	,	PUNCT
ajfa-74	121	60	reduce	reduce	VERB
ajfa-74	121	61	insider	insider	NOUN
ajfa-74	121	62	trading	trading	NOUN
ajfa-74	121	63	,	,	PUNCT
ajfa-74	121	64	and	and	CCONJ
ajfa-74	121	65	communicate	communicate	VERB
ajfa-74	121	66	to	to	ADP
ajfa-74	121	67	foreign	foreign	ADJ
ajfa-74	121	68	press	press	NOUN
ajfa-74	121	69	information	information	NOUN
ajfa-74	121	70	relevant	relevant	ADJ
ajfa-74	121	71	to	to	ADP
ajfa-74	121	72	the	the	DET
ajfa-74	121	73	financial	financial	ADJ
ajfa-74	121	74	markets	market	NOUN
ajfa-74	121	75	.	.	PUNCT
ajfa-74	122	1	5	5	NUM
ajfa-74	122	2	evaluating	evaluate	VERB
ajfa-74	122	3	home	home	NOUN
ajfa-74	122	4	advantage	advantage	NOUN
ajfa-74	122	5	(	(	PUNCT
ajfa-74	122	6	bias	bias	NOUN
ajfa-74	122	7	)	)	PUNCT
ajfa-74	122	8	for	for	ADP
ajfa-74	122	9	indian	indian	ADJ
ajfa-74	122	10	debt	debt	NOUN
ajfa-74	122	11	market	market	NOUN
ajfa-74	122	12	the	the	DET
ajfa-74	122	13	mfs	mfs	NOUN
ajfa-74	122	14	have	have	AUX
ajfa-74	122	15	hitherto	hitherto	NOUN
ajfa-74	122	16	been	be	AUX
ajfa-74	122	17	the	the	DET
ajfa-74	122	18	major	major	ADJ
ajfa-74	122	19	player	player	NOUN
ajfa-74	122	20	in	in	ADP
ajfa-74	122	21	the	the	DET
ajfa-74	122	22	debt	debt	NOUN
ajfa-74	122	23	segment	segment	NOUN
ajfa-74	122	24	of	of	ADP
ajfa-74	122	25	the	the	DET
ajfa-74	122	26	indian	indian	ADJ
ajfa-74	122	27	capital	capital	NOUN
ajfa-74	122	28	market	market	NOUN
ajfa-74	122	29	.	.	PUNCT
ajfa-74	123	1	however	however	ADV
ajfa-74	123	2	,	,	PUNCT
ajfa-74	123	3	this	this	PRON
ajfa-74	123	4	was	be	AUX
ajfa-74	123	5	changed	change	VERB
ajfa-74	123	6	in	in	ADP
ajfa-74	123	7	the	the	DET
ajfa-74	123	8	pattern	pattern	NOUN
ajfa-74	123	9	of	of	ADP
ajfa-74	123	10	participation	participation	NOUN
ajfa-74	123	11	in	in	ADP
ajfa-74	123	12	2005	2005	NUM
ajfa-74	123	13	-	-	SYM
ajfa-74	123	14	06	06	NUM
ajfa-74	123	15	.	.	PUNCT
ajfa-74	124	1	mfs	mfs	PROPN
ajfa-74	124	2	were	be	AUX
ajfa-74	124	3	also	also	ADV
ajfa-74	124	4	active	active	ADJ
ajfa-74	124	5	in	in	ADP
ajfa-74	124	6	the	the	DET
ajfa-74	124	7	equity	equity	NOUN
ajfa-74	124	8	market	market	NOUN
ajfa-74	124	9	for	for	ADP
ajfa-74	124	10	the	the	DET
ajfa-74	124	11	greater	great	ADJ
ajfa-74	124	12	part	part	NOUN
ajfa-74	124	13	of	of	ADP
ajfa-74	124	14	the	the	DET
ajfa-74	124	15	year	year	NOUN
ajfa-74	124	16	.	.	PUNCT
ajfa-74	125	1	fiis	fiis	ADJ
ajfa-74	125	2	investment	investment	NOUN
ajfa-74	125	3	in	in	ADP
ajfa-74	125	4	debt	debt	NOUN
ajfa-74	125	5	segment	segment	NOUN
ajfa-74	125	6	was	be	AUX
ajfa-74	125	7	negative	negative	ADJ
ajfa-74	125	8	in	in	ADP
ajfa-74	125	9	all	all	DET
ajfa-74	125	10	months	month	NOUN
ajfa-74	125	11	in	in	ADP
ajfa-74	125	12	2005	2005	NUM
ajfa-74	125	13	-	-	SYM
ajfa-74	125	14	06	06	NUM
ajfa-74	125	15	.	.	PUNCT
ajfa-74	126	1	the	the	DET
ajfa-74	126	2	total	total	ADJ
ajfa-74	126	3	net	net	ADJ
ajfa-74	126	4	investment	investment	NOUN
ajfa-74	126	5	in	in	ADP
ajfa-74	126	6	this	this	DET
ajfa-74	126	7	segment	segment	NOUN
ajfa-74	126	8	in	in	ADP
ajfa-74	126	9	2005	2005	NUM
ajfa-74	126	10	-	-	SYM
ajfa-74	126	11	06	06	NUM
ajfa-74	126	12	declined	decline	VERB
ajfa-74	126	13	by	by	ADP
ajfa-74	126	14	rs.7334	rs.7334	PROPN
ajfa-74	126	15	crores	crore	NOUN
ajfa-74	126	16	mainly	mainly	ADV
ajfa-74	126	17	due	due	ADP
ajfa-74	126	18	to	to	ADP
ajfa-74	126	19	firming	firm	VERB
ajfa-74	126	20	up	up	ADP
ajfa-74	126	21	of	of	ADP
ajfa-74	126	22	the	the	DET
ajfa-74	126	23	yield	yield	NOUN
ajfa-74	126	24	rate	rate	NOUN
ajfa-74	126	25	of	of	ADP
ajfa-74	126	26	g	g	PROPN
ajfa-74	126	27	-	-	PUNCT
ajfa-74	126	28	sec	sec	PROPN
ajfa-74	126	29	across	across	ADP
ajfa-74	126	30	the	the	DET
ajfa-74	126	31	entire	entire	ADJ
ajfa-74	126	32	maturity	maturity	NOUN
ajfa-74	126	33	spectrum	spectrum	NOUN
ajfa-74	126	34	.	.	PUNCT
ajfa-74	127	1	the	the	DET
ajfa-74	127	2	methodology	methodology	NOUN
ajfa-74	127	3	used	use	VERB
ajfa-74	127	4	in	in	ADP
ajfa-74	127	5	investigating	investigate	VERB
ajfa-74	127	6	home	home	NOUN
ajfa-74	127	7	advantage	advantage	NOUN
ajfa-74	127	8	(	(	PUNCT
ajfa-74	127	9	bias	bias	NOUN
ajfa-74	127	10	)	)	PUNCT
ajfa-74	127	11	in	in	ADP
ajfa-74	127	12	equity	equity	NOUN
ajfa-74	127	13	market	market	NOUN
ajfa-74	127	14	has	have	AUX
ajfa-74	127	15	also	also	ADV
ajfa-74	127	16	been	be	AUX
ajfa-74	127	17	followed	follow	VERB
ajfa-74	127	18	in	in	ADP
ajfa-74	127	19	the	the	DET
ajfa-74	127	20	debt	debt	NOUN
ajfa-74	127	21	segment	segment	NOUN
ajfa-74	127	22	.	.	PUNCT
ajfa-74	128	1	first	first	ADV
ajfa-74	128	2	of	of	ADP
ajfa-74	128	3	all	all	PRON
ajfa-74	128	4	,	,	PUNCT
ajfa-74	128	5	we	we	PRON
ajfa-74	128	6	employ	employ	VERB
ajfa-74	128	7	adf	adf	PROPN
ajfa-74	128	8	(	(	PUNCT
ajfa-74	128	9	augmented	augment	VERB
ajfa-74	128	10	dickey	dickey	PROPN
ajfa-74	128	11	fuller	full	ADJ
ajfa-74	128	12	test	test	NOUN
ajfa-74	128	13	)	)	PUNCT
ajfa-74	128	14	to	to	PART
ajfa-74	128	15	test	test	VERB
ajfa-74	128	16	the	the	DET
ajfa-74	128	17	stationary	stationary	NOUN
ajfa-74	128	18	of	of	ADP
ajfa-74	128	19	variables	variable	NOUN
ajfa-74	128	20	.	.	PUNCT
ajfa-74	129	1	then	then	ADV
ajfa-74	129	2	,	,	PUNCT
ajfa-74	129	3	we	we	PRON
ajfa-74	129	4	conduct	conduct	VERB
ajfa-74	129	5	granger	granger	PROPN
ajfa-74	129	6	linear	linear	PROPN
ajfa-74	129	7	causality	causality	NOUN
ajfa-74	129	8	test	test	NOUN
ajfa-74	129	9	.	.	PUNCT
ajfa-74	130	1	granger	granger	PROPN
ajfa-74	130	2	causality	causality	PROPN
ajfa-74	130	3	results	result	NOUN
ajfa-74	130	4	are	be	AUX
ajfa-74	130	5	discussed	discuss	VERB
ajfa-74	130	6	into	into	ADP
ajfa-74	130	7	two	two	NUM
ajfa-74	130	8	categories	category	NOUN
ajfa-74	130	9	,	,	PUNCT
ajfa-74	130	10	first	first	ADV
ajfa-74	130	11	related	relate	VERB
ajfa-74	130	12	to	to	ADP
ajfa-74	130	13	fii	fii	PROPN
ajfa-74	130	14	and	and	CCONJ
ajfa-74	130	15	second	second	ADV
ajfa-74	130	16	related	relate	VERB
ajfa-74	130	17	to	to	ADP
ajfa-74	130	18	mf	mf	X
ajfa-74	130	19	(	(	PUNCT
ajfa-74	130	20	table-2	table-2	PROPN
ajfa-74	130	21	,	,	PUNCT
ajfa-74	130	22	panel	panel	NOUN
ajfa-74	130	23	a	a	NOUN
ajfa-74	130	24	and	and	CCONJ
ajfa-74	130	25	panel	panel	NOUN
ajfa-74	130	26	b	b	NOUN
ajfa-74	130	27	)	)	PUNCT
ajfa-74	130	28	.	.	PUNCT
ajfa-74	131	1	category-1	category-1	PRON
ajfa-74	131	2	fii	fii	PROPN
ajfa-74	131	3	flows	flow	VERB
ajfa-74	131	4	and	and	CCONJ
ajfa-74	131	5	selected	select	VERB
ajfa-74	131	6	variables	variable	NOUN
ajfa-74	131	7	there	there	PRON
ajfa-74	131	8	seems	seem	VERB
ajfa-74	131	9	to	to	PART
ajfa-74	131	10	be	be	AUX
ajfa-74	131	11	no	no	DET
ajfa-74	131	12	cause	cause	NOUN
ajfa-74	131	13	and	and	CCONJ
ajfa-74	131	14	effect	effect	VERB
ajfa-74	131	15	relationship	relationship	NOUN
ajfa-74	131	16	between	between	ADP
ajfa-74	131	17	fii	fii	PROPN
ajfa-74	131	18	flows	flows	PROPN
ajfa-74	131	19	and	and	CCONJ
ajfa-74	131	20	i	i	PROPN
ajfa-74	131	21	-	-	PUNCT
ajfa-74	131	22	bex	bex	PROPN
ajfa-74	131	23	(	(	PUNCT
ajfa-74	131	24	our	our	PRON
ajfa-74	131	25	bond	bond	NOUN
ajfa-74	131	26	market	market	NOUN
ajfa-74	131	27	index	index	NOUN
ajfa-74	131	28	)	)	PUNCT
ajfa-74	131	29	.	.	PUNCT
ajfa-74	132	1	nor	nor	CCONJ
ajfa-74	132	2	there	there	PRON
ajfa-74	132	3	seem	seem	VERB
ajfa-74	132	4	to	to	PART
ajfa-74	132	5	be	be	AUX
ajfa-74	132	6	any	any	DET
ajfa-74	132	7	relationship	relationship	NOUN
ajfa-74	132	8	between	between	ADP
ajfa-74	132	9	fii	fii	PROPN
ajfa-74	132	10	flows	flow	NOUN
ajfa-74	132	11	and	and	CCONJ
ajfa-74	132	12	short	short	ADJ
ajfa-74	132	13	term	term	NOUN
ajfa-74	132	14	interest	interest	NOUN
ajfa-74	132	15	rates	rate	NOUN
ajfa-74	132	16	(	(	PUNCT
ajfa-74	132	17	table	table	NOUN
ajfa-74	132	18	-2	-2	PROPN
ajfa-74	132	19	,	,	PUNCT
ajfa-74	132	20	panel	panel	NOUN
ajfa-74	132	21	a	a	PRON
ajfa-74	132	22	)	)	PUNCT
ajfa-74	132	23	.	.	PUNCT
ajfa-74	133	1	category-2	category-2	NOUN
ajfa-74	133	2	mf	mf	VERB
ajfa-74	133	3	investment	investment	NOUN
ajfa-74	133	4	and	and	CCONJ
ajfa-74	133	5	selected	select	VERB
ajfa-74	133	6	variables	variable	NOUN
ajfa-74	133	7	in	in	ADP
ajfa-74	133	8	contrast	contrast	NOUN
ajfa-74	133	9	to	to	ADP
ajfa-74	133	10	fii	fii	PROPN
ajfa-74	133	11	flows	flow	NOUN
ajfa-74	133	12	,	,	PUNCT
ajfa-74	133	13	mf	mf	X
ajfa-74	133	14	flows	flow	NOUN
ajfa-74	133	15	seem	seem	VERB
ajfa-74	133	16	to	to	PART
ajfa-74	133	17	determine	determine	VERB
ajfa-74	133	18	bond	bond	NOUN
ajfa-74	133	19	index	index	NOUN
ajfa-74	133	20	returns	return	NOUN
ajfa-74	133	21	,	,	PUNCT
ajfa-74	133	22	while	while	SCONJ
ajfa-74	133	23	short	short	ADJ
ajfa-74	133	24	tern	tern	ADJ
ajfa-74	133	25	interest	interest	NOUN
ajfa-74	133	26	rates	rate	NOUN
ajfa-74	133	27	do	do	AUX
ajfa-74	133	28	not	not	PART
ajfa-74	133	29	exhibit	exhibit	VERB
ajfa-74	133	30	any	any	DET
ajfa-74	133	31	relationship	relationship	NOUN
ajfa-74	133	32	with	with	ADP
ajfa-74	133	33	domestic	domestic	ADJ
ajfa-74	133	34	institutional	institutional	ADJ
ajfa-74	133	35	flows	flow	NOUN
ajfa-74	133	36	.	.	PUNCT
ajfa-74	134	1	our	our	PRON
ajfa-74	134	2	results	result	NOUN
ajfa-74	134	3	indicate	indicate	VERB
ajfa-74	134	4	that	that	SCONJ
ajfa-74	134	5	the	the	DET
ajfa-74	134	6	domestic	domestic	ADJ
ajfa-74	134	7	financial	financial	ADJ
ajfa-74	134	8	investors	investor	NOUN
ajfa-74	134	9	seem	seem	VERB
ajfa-74	134	10	to	to	PART
ajfa-74	134	11	have	have	VERB
ajfa-74	134	12	home	home	NOUN
ajfa-74	134	13	advantage	advantage	NOUN
ajfa-74	134	14	in	in	ADP
ajfa-74	134	15	debt	debt	NOUN
ajfa-74	134	16	market	market	NOUN
ajfa-74	134	17	compared	compare	VERB
ajfa-74	134	18	to	to	ADP
ajfa-74	134	19	foreign	foreign	ADJ
ajfa-74	134	20	institutional	institutional	ADJ
ajfa-74	134	21	investors	investor	NOUN
ajfa-74	134	22	whose	whose	DET
ajfa-74	134	23	investment	investment	NOUN
ajfa-74	134	24	behaviour	behaviour	NOUN
ajfa-74	134	25	seems	seem	VERB
ajfa-74	134	26	to	to	PART
ajfa-74	134	27	be	be	AUX
ajfa-74	134	28	independent	independent	ADJ
ajfa-74	134	29	of	of	ADP
ajfa-74	134	30	market	market	NOUN
ajfa-74	134	31	returns	return	NOUN
ajfa-74	134	32	.	.	PUNCT
ajfa-74	135	1	in	in	ADP
ajfa-74	135	2	sum	sum	NOUN
ajfa-74	135	3	,	,	PUNCT
ajfa-74	135	4	our	our	PRON
ajfa-74	135	5	results	result	NOUN
ajfa-74	135	6	are	be	AUX
ajfa-74	135	7	stronger	strong	ADJ
ajfa-74	135	8	and	and	CCONJ
ajfa-74	135	9	clearer	clear	ADJ
ajfa-74	135	10	for	for	ADP
ajfa-74	135	11	the	the	DET
ajfa-74	135	12	equity	equity	NOUN
ajfa-74	135	13	market	market	NOUN
ajfa-74	135	14	than	than	ADP
ajfa-74	135	15	for	for	ADP
ajfa-74	135	16	the	the	DET
ajfa-74	135	17	debt	debt	NOUN
ajfa-74	135	18	market	market	NOUN
ajfa-74	135	19	.	.	PUNCT
ajfa-74	136	1	this	this	PRON
ajfa-74	136	2	may	may	AUX
ajfa-74	136	3	be	be	AUX
ajfa-74	136	4	owing	owe	VERB
ajfa-74	136	5	to	to	ADP
ajfa-74	136	6	the	the	DET
ajfa-74	136	7	fact	fact	NOUN
ajfa-74	136	8	that	that	SCONJ
ajfa-74	136	9	the	the	DET
ajfa-74	136	10	indian	indian	ADJ
ajfa-74	136	11	debt	debt	NOUN
ajfa-74	136	12	market	market	NOUN
ajfa-74	136	13	is	be	AUX
ajfa-74	136	14	comparatively	comparatively	ADV
ajfa-74	136	15	less	less	ADV
ajfa-74	136	16	developed	develop	VERB
ajfa-74	136	17	.	.	PUNCT
ajfa-74	137	1	equity	equity	NOUN
ajfa-74	137	2	market	market	NOUN
ajfa-74	137	3	trading	trading	NOUN
ajfa-74	137	4	volume	volume	NOUN
ajfa-74	137	5	is	be	AUX
ajfa-74	137	6	80	80	NUM
ajfa-74	137	7	%	%	NOUN
ajfa-74	137	8	greater	great	ADJ
ajfa-74	137	9	than	than	ADP
ajfa-74	137	10	that	that	PRON
ajfa-74	137	11	of	of	ADP
ajfa-74	137	12	debt	debt	NOUN
ajfa-74	137	13	market	market	NOUN
ajfa-74	137	14	trading	trading	NOUN
ajfa-74	137	15	volume	volume	NOUN
ajfa-74	137	16	.	.	PUNCT
ajfa-74	138	1	development	development	NOUN
ajfa-74	138	2	of	of	ADP
ajfa-74	138	3	domestic	domestic	ADJ
ajfa-74	138	4	corporate	corporate	ADJ
ajfa-74	138	5	debt	debt	NOUN
ajfa-74	138	6	market	market	NOUN
ajfa-74	138	7	in	in	ADP
ajfa-74	138	8	india	india	PROPN
ajfa-74	138	9	is	be	AUX
ajfa-74	138	10	constrained	constrain	VERB
ajfa-74	138	11	by	by	ADP
ajfa-74	138	12	a	a	DET
ajfa-74	138	13	number	number	NOUN
ajfa-74	138	14	of	of	ADP
ajfa-74	138	15	factors	factor	NOUN
ajfa-74	138	16	such	such	ADJ
ajfa-74	138	17	as	as	ADP
ajfa-74	138	18	low	low	ADJ
ajfa-74	138	19	issuance	issuance	NOUN
ajfa-74	138	20	leading	lead	VERB
ajfa-74	138	21	to	to	ADP
ajfa-74	138	22	illiquidity	illiquidity	NOUN
ajfa-74	138	23	in	in	ADP
ajfa-74	138	24	the	the	DET
ajfa-74	138	25	secondary	secondary	ADJ
ajfa-74	138	26	market	market	NOUN
ajfa-74	138	27	,	,	PUNCT
ajfa-74	138	28	narrow	narrow	ADJ
ajfa-74	138	29	investor	investor	NOUN
ajfa-74	138	30	base	base	NOUN
ajfa-74	138	31	,	,	PUNCT
ajfa-74	138	32	inadequate	inadequate	ADJ
ajfa-74	138	33	credit	credit	NOUN
ajfa-74	138	34	assessment	assessment	NOUN
ajfa-74	138	35	skills	skill	NOUN
ajfa-74	138	36	,	,	PUNCT
ajfa-74	138	37	and	and	CCONJ
ajfa-74	138	38	high	high	ADJ
ajfa-74	138	39	costs	cost	NOUN
ajfa-74	138	40	of	of	ADP
ajfa-74	138	41	issuance	issuance	NOUN
ajfa-74	138	42	,	,	PUNCT
ajfa-74	138	43	lack	lack	NOUN
ajfa-74	138	44	of	of	ADP
ajfa-74	138	45	transparency	transparency	NOUN
ajfa-74	138	46	in	in	ADP
ajfa-74	138	47	trades	trade	NOUN
ajfa-74	138	48	,	,	PUNCT
ajfa-74	138	49	non	non	ADJ
ajfa-74	138	50	standardized	standardized	ADJ
ajfa-74	138	51	instruments	instrument	NOUN
ajfa-74	138	52	,	,	PUNCT
ajfa-74	138	53	comprehensive	comprehensive	ADJ
ajfa-74	138	54	regulatory	regulatory	ADJ
ajfa-74	138	55	framework	framework	NOUN
ajfa-74	138	56	and	and	CCONJ
ajfa-74	138	57	underdevelopment	underdevelopment	NOUN
ajfa-74	138	58	of	of	ADP
ajfa-74	138	59	securitization	securitization	NOUN
ajfa-74	138	60	products	product	NOUN
ajfa-74	138	61	.	.	PUNCT
ajfa-74	139	1	the	the	DET
ajfa-74	139	2	market	market	NOUN
ajfa-74	139	3	suffers	suffer	VERB
ajfa-74	139	4	from	from	ADP
ajfa-74	139	5	deficiencies	deficiency	NOUN
ajfa-74	139	6	in	in	ADP
ajfa-74	139	7	products	product	NOUN
ajfa-74	139	8	,	,	PUNCT
ajfa-74	139	9	participants	participant	NOUN
ajfa-74	139	10	and	and	CCONJ
ajfa-74	139	11	institutional	institutional	ADJ
ajfa-74	139	12	framework	framework	NOUN
ajfa-74	139	13	.	.	PUNCT
ajfa-74	140	1	there	there	PRON
ajfa-74	140	2	is	be	VERB
ajfa-74	140	3	a	a	DET
ajfa-74	140	4	need	need	NOUN
ajfa-74	140	5	to	to	PART
ajfa-74	140	6	take	take	VERB
ajfa-74	140	7	necessary	necessary	ADJ
ajfa-74	140	8	steps	step	NOUN
ajfa-74	140	9	to	to	PART
ajfa-74	140	10	remove	remove	VERB
ajfa-74	140	11	its	its	PRON
ajfa-74	140	12	sluggishness	sluggishness	NOUN
ajfa-74	140	13	and	and	CCONJ
ajfa-74	140	14	encourage	encourage	VERB
ajfa-74	140	15	individual	individual	ADJ
ajfa-74	140	16	investment	investment	NOUN
ajfa-74	140	17	including	include	VERB
ajfa-74	140	18	those	those	PRON
ajfa-74	140	19	by	by	ADP
ajfa-74	140	20	fiis	fiis	NOUN
ajfa-74	140	21	.	.	PUNCT
ajfa-74	141	1	we	we	PRON
ajfa-74	141	2	also	also	ADV
ajfa-74	141	3	get	get	VERB
ajfa-74	141	4	a	a	DET
ajfa-74	141	5	different	different	ADJ
ajfa-74	141	6	picture	picture	NOUN
ajfa-74	141	7	for	for	ADP
ajfa-74	141	8	the	the	DET
ajfa-74	141	9	two	two	NUM
ajfa-74	141	10	market	market	NOUN
ajfa-74	141	11	settings	setting	NOUN
ajfa-74	141	12	while	while	SCONJ
ajfa-74	141	13	the	the	DET
ajfa-74	141	14	equity	equity	NOUN
ajfa-74	141	15	market	market	NOUN
ajfa-74	141	16	returns	return	NOUN
ajfa-74	141	17	seem	seem	VERB
ajfa-74	141	18	to	to	PART
ajfa-74	141	19	attract	attract	VERB
ajfa-74	141	20	both	both	DET
ajfa-74	141	21	fiis	fiis	NOUN
ajfa-74	141	22	and	and	CCONJ
ajfa-74	141	23	dfis	dfis	NOUN
ajfa-74	141	24	implying	imply	VERB
ajfa-74	141	25	a	a	DET
ajfa-74	141	26	positive	positive	ADJ
ajfa-74	141	27	feedback	feedback	NOUN
ajfa-74	141	28	mechanism	mechanism	NOUN
ajfa-74	141	29	.	.	PUNCT
ajfa-74	142	1	the	the	DET
ajfa-74	142	2	former	former	ADJ
ajfa-74	142	3	seems	seem	VERB
ajfa-74	142	4	to	to	PART
ajfa-74	142	5	react	react	VERB
ajfa-74	142	6	faster	fast	ADV
ajfa-74	142	7	than	than	ADP
ajfa-74	142	8	the	the	DET
ajfa-74	142	9	later	later	ADV
ajfa-74	142	10	thus	thus	ADV
ajfa-74	142	11	,	,	PUNCT
ajfa-74	142	12	negating	negate	VERB
ajfa-74	142	13	the	the	DET
ajfa-74	142	14	home	home	NOUN
ajfa-74	142	15	advantage	advantage	NOUN
ajfa-74	142	16	argument	argument	NOUN
ajfa-74	142	17	.	.	PUNCT
ajfa-74	143	1	on	on	ADP
ajfa-74	143	2	the	the	DET
ajfa-74	143	3	other	other	ADJ
ajfa-74	143	4	hand	hand	NOUN
ajfa-74	143	5	,	,	PUNCT
ajfa-74	143	6	domestic	domestic	ADJ
ajfa-74	143	7	financial	financial	ADJ
ajfa-74	143	8	institutions	institution	NOUN
ajfa-74	143	9	asian	asian	ADJ
ajfa-74	143	10	journal	journal	PROPN
ajfa-74	143	11	of	of	ADP
ajfa-74	143	12	finance	finance	PROPN
ajfa-74	143	13	&	&	CCONJ
ajfa-74	143	14	accounting	accounting	PROPN
ajfa-74	143	15	issn	issn	PROPN
ajfa-74	143	16	1946	1946	NUM
ajfa-74	143	17	-	-	PUNCT
ajfa-74	143	18	052x	052x	NOUN
ajfa-74	143	19	2009	2009	NUM
ajfa-74	143	20	,	,	PUNCT
ajfa-74	143	21	vol	vol	NOUN
ajfa-74	143	22	.	.	PROPN
ajfa-74	143	23	1	1	NUM
ajfa-74	143	24	,	,	PUNCT
ajfa-74	143	25	no	no	INTJ
ajfa-74	143	26	.	.	NOUN
ajfa-74	143	27	2	2	NUM
ajfa-74	143	28	:	:	PUNCT
ajfa-74	143	29	e8	e8	PROPN
ajfa-74	143	30	170	170	NUM
ajfa-74	143	31	www.macrothink.org/ajfa	www.macrothink.org/ajfa	PRON
ajfa-74	143	32	appear	appear	VERB
ajfa-74	143	33	to	to	PART
ajfa-74	143	34	drive	drive	VERB
ajfa-74	143	35	bond	bond	NOUN
ajfa-74	143	36	market	market	NOUN
ajfa-74	143	37	returns	return	NOUN
ajfa-74	143	38	while	while	SCONJ
ajfa-74	143	39	the	the	DET
ajfa-74	143	40	fiis	fiis	NOUN
ajfa-74	143	41	do	do	AUX
ajfa-74	143	42	not	not	PART
ajfa-74	143	43	seem	seem	VERB
ajfa-74	143	44	to	to	PART
ajfa-74	143	45	be	be	AUX
ajfa-74	143	46	affected	affect	VERB
ajfa-74	143	47	by	by	ADP
ajfa-74	143	48	market	market	NOUN
ajfa-74	143	49	movements	movement	NOUN
ajfa-74	143	50	thus	thus	ADV
ajfa-74	143	51	,	,	PUNCT
ajfa-74	143	52	signaling	signal	VERB
ajfa-74	143	53	a	a	DET
ajfa-74	143	54	comparative	comparative	ADJ
ajfa-74	143	55	home	home	NOUN
ajfa-74	143	56	advantage	advantage	NOUN
ajfa-74	143	57	for	for	ADP
ajfa-74	143	58	the	the	DET
ajfa-74	143	59	former	former	ADJ
ajfa-74	143	60	.	.	PUNCT
ajfa-74	144	1	these	these	DET
ajfa-74	144	2	results	result	NOUN
ajfa-74	144	3	probably	probably	ADV
ajfa-74	144	4	are	be	AUX
ajfa-74	144	5	explained	explain	VERB
ajfa-74	144	6	by	by	ADP
ajfa-74	144	7	the	the	DET
ajfa-74	144	8	fact	fact	NOUN
ajfa-74	144	9	that	that	SCONJ
ajfa-74	144	10	,	,	PUNCT
ajfa-74	144	11	while	while	SCONJ
ajfa-74	144	12	fiis	fiis	NOUN
ajfa-74	144	13	play	play	VERB
ajfa-74	144	14	a	a	DET
ajfa-74	144	15	relatively	relatively	ADV
ajfa-74	144	16	more	more	ADV
ajfa-74	144	17	important	important	ADJ
ajfa-74	144	18	role	role	NOUN
ajfa-74	144	19	in	in	ADP
ajfa-74	144	20	the	the	DET
ajfa-74	144	21	equity	equity	NOUN
ajfa-74	144	22	market	market	NOUN
ajfa-74	144	23	as	as	SCONJ
ajfa-74	144	24	they	they	PRON
ajfa-74	144	25	account	account	VERB
ajfa-74	144	26	for	for	ADP
ajfa-74	144	27	68	68	NUM
ajfa-74	144	28	%	%	NOUN
ajfa-74	144	29	of	of	ADP
ajfa-74	144	30	the	the	DET
ajfa-74	144	31	total	total	ADJ
ajfa-74	144	32	investment	investment	NOUN
ajfa-74	144	33	,	,	PUNCT
ajfa-74	144	34	the	the	DET
ajfa-74	144	35	dfis	dfis	NOUN
ajfa-74	144	36	dominate	dominate	VERB
ajfa-74	144	37	the	the	DET
ajfa-74	144	38	debt	debt	NOUN
ajfa-74	144	39	market	market	NOUN
ajfa-74	144	40	by	by	ADP
ajfa-74	144	41	accounting	account	VERB
ajfa-74	144	42	for	for	ADP
ajfa-74	144	43	about	about	ADV
ajfa-74	144	44	74	74	NUM
ajfa-74	144	45	%	%	NOUN
ajfa-74	144	46	of	of	ADP
ajfa-74	144	47	total	total	ADJ
ajfa-74	144	48	investment	investment	NOUN
ajfa-74	144	49	.	.	PUNCT
ajfa-74	145	1	the	the	DET
ajfa-74	145	2	low	low	ADJ
ajfa-74	145	3	activity	activity	NOUN
ajfa-74	145	4	of	of	ADP
ajfa-74	145	5	fiis	fiis	NOUN
ajfa-74	145	6	in	in	ADP
ajfa-74	145	7	the	the	DET
ajfa-74	145	8	debt	debt	NOUN
ajfa-74	145	9	market	market	NOUN
ajfa-74	145	10	may	may	AUX
ajfa-74	145	11	be	be	AUX
ajfa-74	145	12	due	due	ADJ
ajfa-74	145	13	to	to	ADP
ajfa-74	145	14	the	the	DET
ajfa-74	145	15	reasons	reason	NOUN
ajfa-74	145	16	cited	cite	VERB
ajfa-74	145	17	earlier	early	ADV
ajfa-74	145	18	about	about	ADP
ajfa-74	145	19	the	the	DET
ajfa-74	145	20	state	state	NOUN
ajfa-74	145	21	of	of	ADP
ajfa-74	145	22	development	development	NOUN
ajfa-74	145	23	of	of	ADP
ajfa-74	145	24	this	this	DET
ajfa-74	145	25	component	component	NOUN
ajfa-74	145	26	of	of	ADP
ajfa-74	145	27	the	the	DET
ajfa-74	145	28	capital	capital	NOUN
ajfa-74	145	29	market	market	NOUN
ajfa-74	145	30	.	.	PUNCT
ajfa-74	146	1	6	6	X
ajfa-74	146	2	.	.	X
ajfa-74	146	3	summary	summary	NOUN
ajfa-74	146	4	and	and	CCONJ
ajfa-74	146	5	conclusions	conclusion	NOUN
ajfa-74	146	6	despite	despite	SCONJ
ajfa-74	146	7	the	the	DET
ajfa-74	146	8	increase	increase	NOUN
ajfa-74	146	9	in	in	ADP
ajfa-74	146	10	cross	cross	NOUN
ajfa-74	146	11	border	border	NOUN
ajfa-74	146	12	equity	equity	NOUN
ajfa-74	146	13	and	and	CCONJ
ajfa-74	146	14	bond	bond	NOUN
ajfa-74	146	15	transactions	transaction	NOUN
ajfa-74	146	16	over	over	ADP
ajfa-74	146	17	the	the	DET
ajfa-74	146	18	last	last	ADJ
ajfa-74	146	19	20	20	NUM
ajfa-74	146	20	years	year	NOUN
ajfa-74	146	21	,	,	PUNCT
ajfa-74	146	22	the	the	DET
ajfa-74	146	23	home	home	NOUN
ajfa-74	146	24	advantage	advantage	NOUN
ajfa-74	146	25	(	(	PUNCT
ajfa-74	146	26	bias	bias	NOUN
ajfa-74	146	27	)	)	PUNCT
ajfa-74	146	28	argument	argument	NOUN
ajfa-74	146	29	has	have	AUX
ajfa-74	146	30	not	not	PART
ajfa-74	146	31	disappeared	disappear	VERB
ajfa-74	146	32	.	.	PUNCT
ajfa-74	147	1	a	a	DET
ajfa-74	147	2	number	number	NOUN
ajfa-74	147	3	of	of	ADP
ajfa-74	147	4	attempts	attempt	NOUN
ajfa-74	147	5	has	have	AUX
ajfa-74	147	6	been	be	AUX
ajfa-74	147	7	made	make	VERB
ajfa-74	147	8	to	to	PART
ajfa-74	147	9	explain	explain	VERB
ajfa-74	147	10	the	the	DET
ajfa-74	147	11	home	home	NOUN
ajfa-74	147	12	(	(	PUNCT
ajfa-74	147	13	bias	bias	NOUN
ajfa-74	147	14	)	)	PUNCT
ajfa-74	147	15	advantage	advantage	NOUN
ajfa-74	147	16	.	.	PUNCT
ajfa-74	148	1	in	in	ADP
ajfa-74	148	2	this	this	DET
ajfa-74	148	3	paper	paper	NOUN
ajfa-74	148	4	we	we	PRON
ajfa-74	148	5	examined	examine	VERB
ajfa-74	148	6	the	the	DET
ajfa-74	148	7	presence	presence	NOUN
ajfa-74	148	8	of	of	ADP
ajfa-74	148	9	home	home	NOUN
ajfa-74	148	10	advantage	advantage	NOUN
ajfa-74	148	11	,	,	PUNCT
ajfa-74	148	12	if	if	SCONJ
ajfa-74	148	13	any	any	PRON
ajfa-74	148	14	,	,	PUNCT
ajfa-74	148	15	to	to	ADP
ajfa-74	148	16	domestic	domestic	ADJ
ajfa-74	148	17	financial	financial	ADJ
ajfa-74	148	18	institutional	institutional	ADJ
ajfa-74	148	19	investors	investor	NOUN
ajfa-74	148	20	(	(	PUNCT
ajfa-74	148	21	dfis	dfis	PROPN
ajfa-74	148	22	)	)	PUNCT
ajfa-74	148	23	vis	vis	X
ajfa-74	148	24	a	a	X
ajfa-74	148	25	vis	vis	X
ajfa-74	148	26	foreign	foreign	ADJ
ajfa-74	148	27	institutional	institutional	ADJ
ajfa-74	148	28	investors	investor	NOUN
ajfa-74	148	29	(	(	PUNCT
ajfa-74	148	30	fiis	fiis	NOUN
ajfa-74	148	31	)	)	PUNCT
ajfa-74	148	32	both	both	PRON
ajfa-74	148	33	in	in	ADP
ajfa-74	148	34	equity	equity	NOUN
ajfa-74	148	35	and	and	CCONJ
ajfa-74	148	36	debt	debt	NOUN
ajfa-74	148	37	market	market	NOUN
ajfa-74	148	38	segments	segment	NOUN
ajfa-74	148	39	of	of	ADP
ajfa-74	148	40	the	the	DET
ajfa-74	148	41	indian	indian	ADJ
ajfa-74	148	42	capital	capital	NOUN
ajfa-74	148	43	market	market	NOUN
ajfa-74	148	44	.	.	PUNCT
ajfa-74	149	1	bse	bse	PROPN
ajfa-74	149	2	sensex	sensex	PROPN
ajfa-74	149	3	and	and	CCONJ
ajfa-74	149	4	i	i	PROPN
ajfa-74	149	5	-	-	PUNCT
ajfa-74	149	6	bex	bex	PROPN
ajfa-74	149	7	are	be	AUX
ajfa-74	149	8	used	use	VERB
ajfa-74	149	9	as	as	ADP
ajfa-74	149	10	equity	equity	NOUN
ajfa-74	149	11	market	market	NOUN
ajfa-74	149	12	index	index	NOUN
ajfa-74	149	13	and	and	CCONJ
ajfa-74	149	14	debt	debt	NOUN
ajfa-74	149	15	market	market	NOUN
ajfa-74	149	16	index	index	NOUN
ajfa-74	149	17	respectively	respectively	ADV
ajfa-74	149	18	.	.	PUNCT
ajfa-74	150	1	there	there	PRON
ajfa-74	150	2	is	be	VERB
ajfa-74	150	3	no	no	DET
ajfa-74	150	4	consensus	consensus	NOUN
ajfa-74	150	5	among	among	ADP
ajfa-74	150	6	the	the	DET
ajfa-74	150	7	research	research	NOUN
ajfa-74	150	8	scholars	scholar	NOUN
ajfa-74	150	9	about	about	ADP
ajfa-74	150	10	the	the	DET
ajfa-74	150	11	existence	existence	NOUN
ajfa-74	150	12	of	of	ADP
ajfa-74	150	13	home	home	NOUN
ajfa-74	150	14	advantage	advantage	NOUN
ajfa-74	150	15	(	(	PUNCT
ajfa-74	150	16	bias	bias	NOUN
ajfa-74	150	17	)	)	PUNCT
ajfa-74	150	18	.	.	PUNCT
ajfa-74	151	1	some	some	DET
ajfa-74	151	2	document	document	NOUN
ajfa-74	151	3	that	that	PRON
ajfa-74	151	4	foreign	foreign	ADJ
ajfa-74	151	5	investors	investor	NOUN
ajfa-74	151	6	are	be	AUX
ajfa-74	151	7	at	at	ADP
ajfa-74	151	8	a	a	DET
ajfa-74	151	9	disadvantage	disadvantage	NOUN
ajfa-74	151	10	trading	trading	NOUN
ajfa-74	151	11	and	and	CCONJ
ajfa-74	151	12	holding	hold	VERB
ajfa-74	151	13	foreign	foreign	ADJ
ajfa-74	151	14	securities	security	NOUN
ajfa-74	151	15	since	since	SCONJ
ajfa-74	151	16	they	they	PRON
ajfa-74	151	17	have	have	VERB
ajfa-74	151	18	less	less	ADJ
ajfa-74	151	19	information	information	NOUN
ajfa-74	151	20	about	about	ADP
ajfa-74	151	21	foreign	foreign	ADJ
ajfa-74	151	22	markets	market	NOUN
ajfa-74	151	23	and	and	CCONJ
ajfa-74	151	24	institutional	institutional	ADJ
ajfa-74	151	25	settings	setting	NOUN
ajfa-74	151	26	(	(	PUNCT
ajfa-74	151	27	see	see	VERB
ajfa-74	151	28	frankel	frankel	NOUN
ajfa-74	151	29	and	and	CCONJ
ajfa-74	151	30	schmukler	schmukler	ADJ
ajfa-74	151	31	,	,	PUNCT
ajfa-74	151	32	(	(	PUNCT
ajfa-74	151	33	2000	2000	NUM
ajfa-74	151	34	)	)	PUNCT
ajfa-74	151	35	,	,	PUNCT
ajfa-74	151	36	kang	kang	PROPN
ajfa-74	151	37	and	and	CCONJ
ajfa-74	151	38	stulz	stulz	ADJ
ajfa-74	151	39	(	(	PUNCT
ajfa-74	151	40	1997	1997	NUM
ajfa-74	151	41	)	)	PUNCT
ajfa-74	151	42	)	)	PUNCT
ajfa-74	151	43	,	,	PUNCT
ajfa-74	151	44	while	while	SCONJ
ajfa-74	151	45	others	other	NOUN
ajfa-74	151	46	support	support	VERB
ajfa-74	151	47	the	the	DET
ajfa-74	151	48	view	view	NOUN
ajfa-74	151	49	that	that	SCONJ
ajfa-74	151	50	foreign	foreign	ADJ
ajfa-74	151	51	institutional	institutional	ADJ
ajfa-74	151	52	investors	investor	NOUN
ajfa-74	151	53	can	can	AUX
ajfa-74	151	54	never	never	ADV
ajfa-74	151	55	be	be	AUX
ajfa-74	151	56	at	at	ADP
ajfa-74	151	57	a	a	DET
ajfa-74	151	58	disadvantage	disadvantage	NOUN
ajfa-74	151	59	trading	trading	NOUN
ajfa-74	151	60	relative	relative	ADJ
ajfa-74	151	61	to	to	ADP
ajfa-74	151	62	domestic	domestic	ADJ
ajfa-74	151	63	institutional	institutional	ADJ
ajfa-74	151	64	investors	investor	NOUN
ajfa-74	151	65	as	as	SCONJ
ajfa-74	151	66	they	they	PRON
ajfa-74	151	67	have	have	VERB
ajfa-74	151	68	better	well	ADJ
ajfa-74	151	69	international	international	ADJ
ajfa-74	151	70	expertise	expertise	NOUN
ajfa-74	151	71	and	and	CCONJ
ajfa-74	151	72	talent	talent	NOUN
ajfa-74	151	73	and	and	CCONJ
ajfa-74	151	74	have	have	VERB
ajfa-74	151	75	considerable	considerable	ADJ
ajfa-74	151	76	local	local	ADJ
ajfa-74	151	77	resources	resource	NOUN
ajfa-74	151	78	(	(	PUNCT
ajfa-74	151	79	see	see	VERB
ajfa-74	151	80	brennan	brennan	PROPN
ajfa-74	151	81	cao	cao	PROPN
ajfa-74	151	82	(	(	PUNCT
ajfa-74	151	83	1997	1997	NUM
ajfa-74	151	84	)	)	PUNCT
ajfa-74	151	85	,	,	PUNCT
ajfa-74	151	86	seasholes	seashole	NOUN
ajfa-74	151	87	(	(	PUNCT
ajfa-74	151	88	2000	2000	NUM
ajfa-74	151	89	)	)	PUNCT
ajfa-74	151	90	,	,	PUNCT
ajfa-74	151	91	grinblatt	grinblatt	NOUN
ajfa-74	151	92	and	and	CCONJ
ajfa-74	151	93	keloharju	keloharju	NOUN
ajfa-74	151	94	(	(	PUNCT
ajfa-74	151	95	2000	2000	NUM
ajfa-74	151	96	)	)	PUNCT
ajfa-74	151	97	)	)	PUNCT
ajfa-74	151	98	.	.	PUNCT
ajfa-74	152	1	however	however	ADV
ajfa-74	152	2	,	,	PUNCT
ajfa-74	152	3	in	in	ADP
ajfa-74	152	4	the	the	DET
ajfa-74	152	5	indian	indian	ADJ
ajfa-74	152	6	context	context	NOUN
ajfa-74	152	7	our	our	PRON
ajfa-74	152	8	results	result	NOUN
ajfa-74	152	9	are	be	AUX
ajfa-74	152	10	stronger	strong	ADJ
ajfa-74	152	11	and	and	CCONJ
ajfa-74	152	12	clearer	clear	ADJ
ajfa-74	152	13	for	for	ADP
ajfa-74	152	14	the	the	DET
ajfa-74	152	15	equity	equity	NOUN
ajfa-74	152	16	market	market	NOUN
ajfa-74	152	17	than	than	ADP
ajfa-74	152	18	for	for	ADP
ajfa-74	152	19	the	the	DET
ajfa-74	152	20	debt	debt	NOUN
ajfa-74	152	21	market	market	NOUN
ajfa-74	152	22	.	.	PUNCT
ajfa-74	153	1	this	this	PRON
ajfa-74	153	2	may	may	AUX
ajfa-74	153	3	be	be	AUX
ajfa-74	153	4	owing	owe	VERB
ajfa-74	153	5	to	to	ADP
ajfa-74	153	6	the	the	DET
ajfa-74	153	7	fact	fact	NOUN
ajfa-74	153	8	that	that	SCONJ
ajfa-74	153	9	indian	indian	ADJ
ajfa-74	153	10	debt	debt	NOUN
ajfa-74	153	11	market	market	NOUN
ajfa-74	153	12	is	be	AUX
ajfa-74	153	13	comparatively	comparatively	ADV
ajfa-74	153	14	less	less	ADV
ajfa-74	153	15	developed	develop	VERB
ajfa-74	153	16	.	.	PUNCT
ajfa-74	154	1	equity	equity	NOUN
ajfa-74	154	2	market	market	NOUN
ajfa-74	154	3	trading	trading	NOUN
ajfa-74	154	4	volume	volume	NOUN
ajfa-74	154	5	is	be	AUX
ajfa-74	154	6	80	80	NUM
ajfa-74	154	7	%	%	NOUN
ajfa-74	154	8	greater	great	ADJ
ajfa-74	154	9	than	than	ADP
ajfa-74	154	10	that	that	PRON
ajfa-74	154	11	of	of	ADP
ajfa-74	154	12	debt	debt	NOUN
ajfa-74	154	13	market	market	NOUN
ajfa-74	154	14	trading	trading	NOUN
ajfa-74	154	15	volume	volume	NOUN
ajfa-74	154	16	.	.	PUNCT
ajfa-74	155	1	development	development	NOUN
ajfa-74	155	2	of	of	ADP
ajfa-74	155	3	domestic	domestic	ADJ
ajfa-74	155	4	corporate	corporate	ADJ
ajfa-74	155	5	debt	debt	NOUN
ajfa-74	155	6	market	market	NOUN
ajfa-74	155	7	in	in	ADP
ajfa-74	155	8	india	india	PROPN
ajfa-74	155	9	is	be	AUX
ajfa-74	155	10	constrained	constrain	VERB
ajfa-74	155	11	by	by	ADP
ajfa-74	155	12	a	a	DET
ajfa-74	155	13	number	number	NOUN
ajfa-74	155	14	of	of	ADP
ajfa-74	155	15	factors	factor	NOUN
ajfa-74	155	16	such	such	ADJ
ajfa-74	155	17	as	as	ADP
ajfa-74	155	18	low	low	ADJ
ajfa-74	155	19	issuance	issuance	NOUN
ajfa-74	155	20	leading	lead	VERB
ajfa-74	155	21	to	to	ADP
ajfa-74	155	22	illiquidity	illiquidity	NOUN
ajfa-74	155	23	in	in	ADP
ajfa-74	155	24	the	the	DET
ajfa-74	155	25	secondary	secondary	ADJ
ajfa-74	155	26	market	market	NOUN
ajfa-74	155	27	,	,	PUNCT
ajfa-74	155	28	narrow	narrow	ADJ
ajfa-74	155	29	investor	investor	NOUN
ajfa-74	155	30	base	base	NOUN
ajfa-74	155	31	,	,	PUNCT
ajfa-74	155	32	inadequate	inadequate	ADJ
ajfa-74	155	33	credit	credit	NOUN
ajfa-74	155	34	assessment	assessment	NOUN
ajfa-74	155	35	skills	skill	NOUN
ajfa-74	155	36	,	,	PUNCT
ajfa-74	155	37	and	and	CCONJ
ajfa-74	155	38	high	high	ADJ
ajfa-74	155	39	costs	cost	NOUN
ajfa-74	155	40	of	of	ADP
ajfa-74	155	41	issuance	issuance	NOUN
ajfa-74	155	42	,	,	PUNCT
ajfa-74	155	43	lack	lack	NOUN
ajfa-74	155	44	of	of	ADP
ajfa-74	155	45	transparency	transparency	NOUN
ajfa-74	155	46	in	in	ADP
ajfa-74	155	47	trades	trade	NOUN
ajfa-74	155	48	,	,	PUNCT
ajfa-74	155	49	non	non	ADJ
ajfa-74	155	50	standardized	standardized	ADJ
ajfa-74	155	51	instruments	instrument	NOUN
ajfa-74	155	52	,	,	PUNCT
ajfa-74	155	53	comprehensive	comprehensive	ADJ
ajfa-74	155	54	regulatory	regulatory	ADJ
ajfa-74	155	55	framework	framework	NOUN
ajfa-74	155	56	and	and	CCONJ
ajfa-74	155	57	underdevelopment	underdevelopment	NOUN
ajfa-74	155	58	of	of	ADP
ajfa-74	155	59	securitization	securitization	NOUN
ajfa-74	155	60	products	product	NOUN
ajfa-74	155	61	.	.	PUNCT
ajfa-74	156	1	the	the	DET
ajfa-74	156	2	market	market	NOUN
ajfa-74	156	3	suffers	suffer	VERB
ajfa-74	156	4	from	from	ADP
ajfa-74	156	5	deficiencies	deficiency	NOUN
ajfa-74	156	6	in	in	ADP
ajfa-74	156	7	products	product	NOUN
ajfa-74	156	8	,	,	PUNCT
ajfa-74	156	9	participants	participant	NOUN
ajfa-74	156	10	and	and	CCONJ
ajfa-74	156	11	institutional	institutional	ADJ
ajfa-74	156	12	framework	framework	NOUN
ajfa-74	156	13	.	.	PUNCT
ajfa-74	157	1	in	in	ADP
ajfa-74	157	2	addition	addition	NOUN
ajfa-74	157	3	we	we	PRON
ajfa-74	157	4	find	find	VERB
ajfa-74	157	5	different	different	ADJ
ajfa-74	157	6	results	result	NOUN
ajfa-74	157	7	for	for	ADP
ajfa-74	157	8	these	these	DET
ajfa-74	157	9	two	two	NUM
ajfa-74	157	10	segments	segment	NOUN
ajfa-74	157	11	of	of	ADP
ajfa-74	157	12	the	the	DET
ajfa-74	157	13	indian	indian	ADJ
ajfa-74	157	14	capital	capital	NOUN
ajfa-74	157	15	market	market	NOUN
ajfa-74	157	16	.	.	PUNCT
ajfa-74	158	1	both	both	PRON
ajfa-74	158	2	dfis	dfis	ADJ
ajfa-74	158	3	and	and	CCONJ
ajfa-74	158	4	fiis	fiis	NOUN
ajfa-74	158	5	seem	seem	VERB
ajfa-74	158	6	to	to	PART
ajfa-74	158	7	be	be	AUX
ajfa-74	158	8	attracted	attract	VERB
ajfa-74	158	9	by	by	ADP
ajfa-74	158	10	equity	equity	NOUN
ajfa-74	158	11	market	market	NOUN
ajfa-74	158	12	returns	return	NOUN
ajfa-74	158	13	,	,	PUNCT
ajfa-74	158	14	thereby	thereby	ADV
ajfa-74	158	15	acknowledging	acknowledge	VERB
ajfa-74	158	16	positive	positive	ADJ
ajfa-74	158	17	feedback	feedback	NOUN
ajfa-74	158	18	trading	trading	NOUN
ajfa-74	158	19	strategy	strategy	NOUN
ajfa-74	158	20	but	but	CCONJ
ajfa-74	158	21	the	the	DET
ajfa-74	158	22	latter	latter	NOUN
ajfa-74	158	23	seems	seem	VERB
ajfa-74	158	24	to	to	PART
ajfa-74	158	25	react	react	VERB
ajfa-74	158	26	faster	fast	ADV
ajfa-74	158	27	than	than	ADP
ajfa-74	158	28	the	the	DET
ajfa-74	158	29	former	former	ADJ
ajfa-74	158	30	and	and	CCONJ
ajfa-74	158	31	thus	thus	ADV
ajfa-74	158	32	negating	negate	VERB
ajfa-74	158	33	the	the	DET
ajfa-74	158	34	home	home	NOUN
ajfa-74	158	35	advantage	advantage	NOUN
ajfa-74	158	36	argument	argument	NOUN
ajfa-74	158	37	.	.	PUNCT
ajfa-74	159	1	these	these	DET
ajfa-74	159	2	findings	finding	NOUN
ajfa-74	159	3	can	can	AUX
ajfa-74	159	4	be	be	AUX
ajfa-74	159	5	explained	explain	VERB
ajfa-74	159	6	in	in	ADP
ajfa-74	159	7	light	light	NOUN
ajfa-74	159	8	of	of	ADP
ajfa-74	159	9	the	the	DET
ajfa-74	159	10	fact	fact	NOUN
ajfa-74	159	11	that	that	SCONJ
ajfa-74	159	12	fiis	fiis	NOUN
ajfa-74	159	13	have	have	AUX
ajfa-74	159	14	access	access	NOUN
ajfa-74	159	15	to	to	ADP
ajfa-74	159	16	both	both	DET
ajfa-74	159	17	international	international	ADJ
ajfa-74	159	18	expertise	expertise	NOUN
ajfa-74	159	19	and	and	CCONJ
ajfa-74	159	20	talent	talent	NOUN
ajfa-74	159	21	and	and	CCONJ
ajfa-74	159	22	have	have	VERB
ajfa-74	159	23	considerable	considerable	ADJ
ajfa-74	159	24	local	local	ADJ
ajfa-74	159	25	resources	resource	NOUN
ajfa-74	159	26	.	.	PUNCT
ajfa-74	160	1	on	on	ADP
ajfa-74	160	2	the	the	DET
ajfa-74	160	3	other	other	ADJ
ajfa-74	160	4	hand	hand	NOUN
ajfa-74	160	5	,	,	PUNCT
ajfa-74	160	6	dfis	dfis	PROPN
ajfa-74	160	7	appear	appear	VERB
ajfa-74	160	8	to	to	PART
ajfa-74	160	9	drive	drive	VERB
ajfa-74	160	10	bond	bond	NOUN
ajfa-74	160	11	market	market	NOUN
ajfa-74	160	12	returns	return	NOUN
ajfa-74	160	13	while	while	SCONJ
ajfa-74	160	14	the	the	DET
ajfa-74	160	15	fiis	fiis	NOUN
ajfa-74	160	16	do	do	AUX
ajfa-74	160	17	not	not	PART
ajfa-74	160	18	seem	seem	VERB
ajfa-74	160	19	to	to	PART
ajfa-74	160	20	be	be	AUX
ajfa-74	160	21	affected	affect	VERB
ajfa-74	160	22	by	by	ADP
ajfa-74	160	23	market	market	NOUN
ajfa-74	160	24	movements	movement	NOUN
ajfa-74	160	25	thus	thus	ADV
ajfa-74	160	26	signaling	signal	VERB
ajfa-74	160	27	a	a	DET
ajfa-74	160	28	comparative	comparative	ADJ
ajfa-74	160	29	home	home	NOUN
ajfa-74	160	30	advantage	advantage	NOUN
ajfa-74	160	31	for	for	ADP
ajfa-74	160	32	the	the	DET
ajfa-74	160	33	former	former	ADJ
ajfa-74	160	34	.	.	PUNCT
ajfa-74	161	1	these	these	DET
ajfa-74	161	2	results	result	NOUN
ajfa-74	161	3	probably	probably	ADV
ajfa-74	161	4	are	be	AUX
ajfa-74	161	5	explained	explain	VERB
ajfa-74	161	6	by	by	ADP
ajfa-74	161	7	the	the	DET
ajfa-74	161	8	fact	fact	NOUN
ajfa-74	161	9	that	that	SCONJ
ajfa-74	161	10	,	,	PUNCT
ajfa-74	161	11	while	while	SCONJ
ajfa-74	161	12	fiis	fiis	NOUN
ajfa-74	161	13	play	play	VERB
ajfa-74	161	14	a	a	DET
ajfa-74	161	15	relatively	relatively	ADV
ajfa-74	161	16	more	more	ADV
ajfa-74	161	17	important	important	ADJ
ajfa-74	161	18	role	role	NOUN
ajfa-74	161	19	in	in	ADP
ajfa-74	161	20	the	the	DET
ajfa-74	161	21	equity	equity	NOUN
ajfa-74	161	22	market	market	NOUN
ajfa-74	161	23	as	as	SCONJ
ajfa-74	161	24	they	they	PRON
ajfa-74	161	25	account	account	VERB
ajfa-74	161	26	for	for	ADP
ajfa-74	161	27	68	68	NUM
ajfa-74	161	28	%	%	NOUN
ajfa-74	161	29	of	of	ADP
ajfa-74	161	30	the	the	DET
ajfa-74	161	31	total	total	ADJ
ajfa-74	161	32	investment	investment	NOUN
ajfa-74	161	33	,	,	PUNCT
ajfa-74	161	34	the	the	DET
ajfa-74	161	35	dfis	dfis	NOUN
ajfa-74	161	36	dominate	dominate	VERB
ajfa-74	161	37	the	the	DET
ajfa-74	161	38	debt	debt	NOUN
ajfa-74	161	39	market	market	NOUN
ajfa-74	161	40	by	by	ADP
ajfa-74	161	41	accounting	account	VERB
ajfa-74	161	42	for	for	ADP
ajfa-74	161	43	about	about	ADV
ajfa-74	161	44	74	74	NUM
ajfa-74	161	45	%	%	NOUN
ajfa-74	161	46	of	of	ADP
ajfa-74	161	47	total	total	ADJ
ajfa-74	161	48	investment	investment	NOUN
ajfa-74	161	49	.	.	PUNCT
ajfa-74	162	1	asian	asian	ADJ
ajfa-74	162	2	journal	journal	PROPN
ajfa-74	162	3	of	of	ADP
ajfa-74	162	4	finance	finance	PROPN
ajfa-74	162	5	&	&	CCONJ
ajfa-74	162	6	accounting	accounting	PROPN
ajfa-74	162	7	issn	issn	PROPN
ajfa-74	162	8	1946	1946	NUM
ajfa-74	162	9	-	-	PUNCT
ajfa-74	162	10	052x	052x	NOUN
ajfa-74	162	11	2009	2009	NUM
ajfa-74	162	12	,	,	PUNCT
ajfa-74	162	13	vol	vol	NOUN
ajfa-74	162	14	.	.	PROPN
ajfa-74	162	15	1	1	NUM
ajfa-74	162	16	,	,	PUNCT
ajfa-74	162	17	no	no	INTJ
ajfa-74	162	18	.	.	NOUN
ajfa-74	162	19	2	2	NUM
ajfa-74	162	20	:	:	PUNCT
ajfa-74	162	21	e8	e8	PROPN
ajfa-74	162	22	171	171	NUM
ajfa-74	162	23	www.macrothink.org/ajfa	www.macrothink.org/ajfa	AUX
ajfa-74	162	24	notes	note	VERB
ajfa-74	162	25	1	1	NUM
ajfa-74	162	26	.	.	PUNCT
ajfa-74	163	1	see	see	VERB
ajfa-74	163	2	french	french	ADJ
ajfa-74	163	3	and	and	CCONJ
ajfa-74	163	4	poterba	poterba	NOUN
ajfa-74	163	5	(	(	PUNCT
ajfa-74	163	6	1991	1991	NUM
ajfa-74	163	7	)	)	PUNCT
ajfa-74	163	8	,	,	PUNCT
ajfa-74	163	9	cooper	cooper	NOUN
ajfa-74	163	10	and	and	CCONJ
ajfa-74	163	11	kaplanis	kaplanis	PROPN
ajfa-74	163	12	(	(	PUNCT
ajfa-74	163	13	1998	1998	NUM
ajfa-74	163	14	)	)	PUNCT
ajfa-74	163	15	,	,	PUNCT
ajfa-74	163	16	tesar	tesar	NUM
ajfa-74	163	17	and	and	CCONJ
ajfa-74	163	18	werner	werner	PROPN
ajfa-74	163	19	(	(	PUNCT
ajfa-74	163	20	1995	1995	NUM
ajfa-74	163	21	)	)	PUNCT
ajfa-74	163	22	,	,	PUNCT
ajfa-74	163	23	and	and	CCONJ
ajfa-74	163	24	kang	kang	PROPN
ajfa-74	163	25	and	and	CCONJ
ajfa-74	163	26	stulz	stulz	ADJ
ajfa-74	163	27	(	(	PUNCT
ajfa-74	163	28	1997	1997	NUM
ajfa-74	163	29	)	)	PUNCT
ajfa-74	163	30	.	.	PUNCT
ajfa-74	164	1	2	2	X
ajfa-74	164	2	.	.	X
ajfa-74	164	3	see	see	VERB
ajfa-74	164	4	brennan	brennan	PROPN
ajfa-74	164	5	and	and	CCONJ
ajfa-74	164	6	cao	cao	PROPN
ajfa-74	164	7	(	(	PUNCT
ajfa-74	164	8	1997	1997	NUM
ajfa-74	164	9	)	)	PUNCT
ajfa-74	164	10	for	for	ADP
ajfa-74	164	11	example	example	NOUN
ajfa-74	164	12	.	.	PUNCT
ajfa-74	165	1	3	3	X
ajfa-74	165	2	.	.	X
ajfa-74	165	3	see	see	VERB
ajfa-74	165	4	calvo	calvo	PROPN
ajfa-74	165	5	and	and	CCONJ
ajfa-74	165	6	mendoza	mendoza	PROPN
ajfa-74	165	7	(	(	PUNCT
ajfa-74	165	8	2000	2000	NUM
ajfa-74	165	9	)	)	PUNCT
ajfa-74	165	10	.	.	PUNCT
ajfa-74	166	1	4	4	X
ajfa-74	166	2	.	.	X
ajfa-74	166	3	information	information	NOUN
ajfa-74	166	4	about	about	ADP
ajfa-74	166	5	other	other	ADJ
ajfa-74	166	6	components	component	NOUN
ajfa-74	166	7	of	of	ADP
ajfa-74	166	8	dfis	dfis	NOUN
ajfa-74	166	9	such	such	ADJ
ajfa-74	166	10	as	as	ADP
ajfa-74	166	11	venture	venture	NOUN
ajfa-74	166	12	funds	fund	NOUN
ajfa-74	166	13	,	,	PUNCT
ajfa-74	166	14	other	other	ADJ
ajfa-74	166	15	corporate	corporate	ADJ
ajfa-74	166	16	bodies	body	NOUN
ajfa-74	166	17	is	be	AUX
ajfa-74	166	18	not	not	PART
ajfa-74	166	19	available	available	ADJ
ajfa-74	166	20	on	on	ADP
ajfa-74	166	21	sebi	sebi	NOUN
ajfa-74	166	22	website	website	NOUN
ajfa-74	166	23	and	and	CCONJ
ajfa-74	166	24	hence	hence	ADV
ajfa-74	166	25	has	have	AUX
ajfa-74	166	26	been	be	AUX
ajfa-74	166	27	excluded	exclude	VERB
ajfa-74	166	28	from	from	ADP
ajfa-74	166	29	the	the	DET
ajfa-74	166	30	study	study	NOUN
ajfa-74	166	31	.	.	PUNCT
ajfa-74	167	1	5	5	X
ajfa-74	167	2	.	.	X
ajfa-74	167	3	bse	bse	NOUN
ajfa-74	167	4	sensex	sensex	PROPN
ajfa-74	167	5	is	be	AUX
ajfa-74	167	6	calculated	calculate	VERB
ajfa-74	167	7	on	on	ADP
ajfa-74	167	8	a	a	DET
ajfa-74	167	9	free	free	ADJ
ajfa-74	167	10	float	float	NOUN
ajfa-74	167	11	market	market	NOUN
ajfa-74	167	12	capitalization	capitalization	NOUN
ajfa-74	167	13	weighted	weight	VERB
ajfa-74	167	14	methodology	methodology	NOUN
ajfa-74	167	15	of	of	ADP
ajfa-74	167	16	30	30	NUM
ajfa-74	167	17	components	component	NOUN
ajfa-74	167	18	stocks	stock	NOUN
ajfa-74	167	19	representing	represent	VERB
ajfa-74	167	20	large	large	ADJ
ajfa-74	167	21	,	,	PUNCT
ajfa-74	167	22	well	well	ADV
ajfa-74	167	23	established	establish	VERB
ajfa-74	167	24	and	and	CCONJ
ajfa-74	167	25	financially	financially	ADV
ajfa-74	167	26	sound	sound	ADJ
ajfa-74	167	27	companies	company	NOUN
ajfa-74	167	28	that	that	PRON
ajfa-74	167	29	account	account	VERB
ajfa-74	167	30	for	for	ADP
ajfa-74	167	31	48	48	NUM
ajfa-74	167	32	percent	percent	NOUN
ajfa-74	167	33	of	of	ADP
ajfa-74	167	34	total	total	ADJ
ajfa-74	167	35	market	market	NOUN
ajfa-74	167	36	capitalization	capitalization	NOUN
ajfa-74	167	37	and	and	CCONJ
ajfa-74	167	38	about	about	ADV
ajfa-74	167	39	74	74	NUM
ajfa-74	167	40	percent	percent	NOUN
ajfa-74	167	41	of	of	ADP
ajfa-74	167	42	trading	trading	NOUN
ajfa-74	167	43	activity	activity	NOUN
ajfa-74	167	44	of	of	ADP
ajfa-74	167	45	bombay	bombay	PROPN
ajfa-74	167	46	stock	stock	PROPN
ajfa-74	167	47	exchange	exchange	PROPN
ajfa-74	167	48	.	.	PUNCT
ajfa-74	168	1	it	it	PRON
ajfa-74	168	2	is	be	AUX
ajfa-74	168	3	constructed	construct	VERB
ajfa-74	168	4	on	on	ADP
ajfa-74	168	5	the	the	DET
ajfa-74	168	6	lines	line	NOUN
ajfa-74	168	7	of	of	ADP
ajfa-74	168	8	standard&poor’s-500	standard&poor’s-500	NOUN
ajfa-74	168	9	,	,	PUNCT
ajfa-74	168	10	usa	usa	PROPN
ajfa-74	168	11	.	.	PROPN
ajfa-74	168	12	table	table	NOUN
ajfa-74	168	13	1	1	NUM
ajfa-74	168	14	.	.	PUNCT
ajfa-74	168	15	results	result	NOUN
ajfa-74	168	16	for	for	ADP
ajfa-74	168	17	granger	granger	PROPN
ajfa-74	168	18	linear	linear	PROPN
ajfa-74	168	19	causality	causality	NOUN
ajfa-74	168	20	test	test	NOUN
ajfa-74	168	21	for	for	ADP
ajfa-74	168	22	indian	indian	ADJ
ajfa-74	168	23	equity	equity	NOUN
ajfa-74	168	24	market	market	NOUN
ajfa-74	168	25	(	(	PUNCT
ajfa-74	168	26	2001	2001	NUM
ajfa-74	168	27	-	-	SYM
ajfa-74	168	28	2006	2006	NUM
ajfa-74	168	29	)	)	PUNCT
ajfa-74	168	30	panel	panel	NOUN
ajfa-74	168	31	a	a	DET
ajfa-74	168	32	:	:	PUNCT
ajfa-74	168	33	fiis	fiis	NOUN
ajfa-74	168	34	and	and	CCONJ
ajfa-74	168	35	other	other	ADJ
ajfa-74	168	36	variables	variable	NOUN
ajfa-74	168	37	null	null	ADJ
ajfa-74	168	38	hypotheses	hypothesis	NOUN
ajfa-74	168	39	f	f	NOUN
ajfa-74	168	40	-	-	PUNCT
ajfa-74	168	41	statistics	statistic	NOUN
ajfa-74	168	42	(	(	PUNCT
ajfa-74	168	43	2001	2001	NUM
ajfa-74	168	44	-	-	SYM
ajfa-74	168	45	06	06	NUM
ajfa-74	168	46	)	)	PUNCT
ajfa-74	168	47	fii	fii	PROPN
ajfa-74	168	48	inflows	inflow	NOUN
ajfa-74	168	49	does	do	AUX
ajfa-74	168	50	not	not	PART
ajfa-74	168	51	granger	granger	AUX
ajfa-74	168	52	cause	cause	VERB
ajfa-74	168	53	return	return	NOUN
ajfa-74	168	54	on	on	ADP
ajfa-74	168	55	bse	bse	NOUN
ajfa-74	168	56	0.09	0.09	NUM
ajfa-74	168	57	return	return	NOUN
ajfa-74	168	58	on	on	ADP
ajfa-74	168	59	bse	bse	NOUN
ajfa-74	168	60	does	do	AUX
ajfa-74	168	61	not	not	PART
ajfa-74	168	62	granger	granger	AUX
ajfa-74	168	63	cause	cause	VERB
ajfa-74	168	64	fii	fii	PROPN
ajfa-74	168	65	inflows	inflow	VERB
ajfa-74	168	66	11.35	11.35	NUM
ajfa-74	168	67	*	*	SYM
ajfa-74	168	68	fii	fii	PROPN
ajfa-74	168	69	inflows	inflow	NOUN
ajfa-74	168	70	does	do	AUX
ajfa-74	168	71	not	not	PART
ajfa-74	168	72	grange	grange	VERB
ajfa-74	168	73	cause	cause	VERB
ajfa-74	168	74	interest	interest	NOUN
ajfa-74	168	75	rates	rate	NOUN
ajfa-74	168	76	6.23	6.23	NUM
ajfa-74	168	77	*	*	PUNCT
ajfa-74	168	78	interest	interest	NOUN
ajfa-74	168	79	rates	rate	NOUN
ajfa-74	168	80	does	do	AUX
ajfa-74	168	81	not	not	PART
ajfa-74	168	82	granger	granger	AUX
ajfa-74	168	83	cause	cause	VERB
ajfa-74	168	84	fii	fii	PROPN
ajfa-74	168	85	inflows	inflow	NOUN
ajfa-74	168	86	6.9	6.9	NUM
ajfa-74	168	87	*	*	SYM
ajfa-74	168	88	fii	fii	PROPN
ajfa-74	168	89	outflows	outflow	NOUN
ajfa-74	168	90	does	do	AUX
ajfa-74	168	91	not	not	PART
ajfa-74	168	92	granger	granger	AUX
ajfa-74	168	93	cause	cause	VERB
ajfa-74	168	94	return	return	NOUN
ajfa-74	168	95	on	on	ADP
ajfa-74	168	96	bse	bse	NOUN
ajfa-74	168	97	sensex	sensex	PROPN
ajfa-74	168	98	0.43	0.43	NUM
ajfa-74	168	99	return	return	NOUN
ajfa-74	168	100	on	on	ADP
ajfa-74	168	101	bse	bse	NOUN
ajfa-74	168	102	sensex	sensex	PROPN
ajfa-74	168	103	does	do	AUX
ajfa-74	168	104	not	not	PART
ajfa-74	168	105	granger	granger	AUX
ajfa-74	168	106	cause	cause	VERB
ajfa-74	168	107	fii	fii	PROPN
ajfa-74	168	108	outflows	outflow	VERB
ajfa-74	168	109	0.7	0.7	NUM
ajfa-74	168	110	fii	fii	PROPN
ajfa-74	168	111	outflows	outflow	NOUN
ajfa-74	168	112	does	do	AUX
ajfa-74	168	113	not	not	PART
ajfa-74	168	114	granger	granger	AUX
ajfa-74	168	115	cause	cause	VERB
ajfa-74	168	116	interest	interest	NOUN
ajfa-74	168	117	rates	rate	NOUN
ajfa-74	168	118	3.94	3.94	NUM
ajfa-74	168	119	*	*	NOUN
ajfa-74	168	120	interest	interest	NOUN
ajfa-74	168	121	rates	rate	NOUN
ajfa-74	168	122	does	do	AUX
ajfa-74	168	123	not	not	PART
ajfa-74	168	124	granger	granger	AUX
ajfa-74	168	125	cause	cause	VERB
ajfa-74	168	126	fii	fii	PROPN
ajfa-74	168	127	out	out	ADP
ajfa-74	168	128	flows	flow	VERB
ajfa-74	168	129	5.76	5.76	NUM
ajfa-74	168	130	*	*	PUNCT
ajfa-74	168	131	return	return	NOUN
ajfa-74	168	132	on	on	ADP
ajfa-74	168	133	bse	bse	NOUN
ajfa-74	168	134	does	do	AUX
ajfa-74	168	135	not	not	PART
ajfa-74	168	136	granger	granger	AUX
ajfa-74	168	137	cause	cause	VERB
ajfa-74	168	138	interest	interest	NOUN
ajfa-74	168	139	rates	rate	NOUN
ajfa-74	168	140	0.17	0.17	NUM
ajfa-74	168	141	interest	interest	NOUN
ajfa-74	168	142	rates	rate	NOUN
ajfa-74	168	143	does	do	AUX
ajfa-74	168	144	not	not	PART
ajfa-74	168	145	granger	granger	AUX
ajfa-74	168	146	cause	cause	VERB
ajfa-74	168	147	return	return	NOUN
ajfa-74	168	148	on	on	ADP
ajfa-74	168	149	bse	bse	NOUN
ajfa-74	168	150	0.07	0.07	NUM
ajfa-74	168	151	panel	panel	PROPN
ajfa-74	168	152	b.	b.	PROPN
ajfa-74	168	153	mf	mf	PROPN
ajfa-74	168	154	investment	investment	NOUN
ajfa-74	168	155	(	(	PUNCT
ajfa-74	168	156	dfis	dfis	ADJ
ajfa-74	168	157	)	)	PUNCT
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ajfa-74	168	159	other	other	ADJ
ajfa-74	168	160	variables	variable	NOUN
ajfa-74	168	161	mf	mf	NOUN
ajfa-74	168	162	inflows	inflow	NOUN
ajfa-74	168	163	does	do	AUX
ajfa-74	168	164	not	not	PART
ajfa-74	168	165	granger	granger	AUX
ajfa-74	168	166	cause	cause	VERB
ajfa-74	168	167	return	return	NOUN
ajfa-74	168	168	on	on	ADP
ajfa-74	168	169	bse	bse	NOUN
ajfa-74	168	170	1.29	1.29	NUM
ajfa-74	168	171	return	return	NOUN
ajfa-74	168	172	on	on	ADP
ajfa-74	168	173	bse	bse	NOUN
ajfa-74	168	174	does	do	AUX
ajfa-74	168	175	not	not	PART
ajfa-74	168	176	granger	granger	AUX
ajfa-74	168	177	cause	cause	VERB
ajfa-74	168	178	mf	mf	NOUN
ajfa-74	168	179	inflows	inflow	NOUN
ajfa-74	168	180	4.67	4.67	NUM
ajfa-74	168	181	*	*	NOUN
ajfa-74	168	182	mf	mf	NOUN
ajfa-74	168	183	inflows	inflow	NOUN
ajfa-74	168	184	does	do	AUX
ajfa-74	168	185	not	not	PART
ajfa-74	168	186	grange	grange	VERB
ajfa-74	168	187	cause	cause	VERB
ajfa-74	168	188	interest	interest	NOUN
ajfa-74	168	189	rates	rate	NOUN
ajfa-74	168	190	13.13	13.13	NUM
ajfa-74	168	191	*	*	PUNCT
ajfa-74	168	192	interest	interest	NOUN
ajfa-74	168	193	rates	rate	NOUN
ajfa-74	168	194	does	do	AUX
ajfa-74	168	195	not	not	PART
ajfa-74	168	196	granger	granger	AUX
ajfa-74	168	197	cause	cause	VERB
ajfa-74	168	198	mf	mf	NOUN
ajfa-74	168	199	inflows	inflow	VERB
ajfa-74	168	200	5.46	5.46	NUM
ajfa-74	168	201	*	*	NOUN
ajfa-74	168	202	asian	asian	ADJ
ajfa-74	168	203	journal	journal	NOUN
ajfa-74	168	204	of	of	ADP
ajfa-74	168	205	finance	finance	PROPN
ajfa-74	168	206	&	&	CCONJ
ajfa-74	168	207	accounting	accounting	PROPN
ajfa-74	168	208	issn	issn	PROPN
ajfa-74	168	209	1946	1946	NUM
ajfa-74	168	210	-	-	PUNCT
ajfa-74	168	211	052x	052x	NOUN
ajfa-74	168	212	2009	2009	NUM
ajfa-74	168	213	,	,	PUNCT
ajfa-74	168	214	vol	vol	NOUN
ajfa-74	168	215	.	.	PROPN
ajfa-74	169	1	1	1	NUM
ajfa-74	169	2	,	,	PUNCT
ajfa-74	169	3	no	no	INTJ
ajfa-74	169	4	.	.	NOUN
ajfa-74	169	5	2	2	NUM
ajfa-74	169	6	:	:	PUNCT
ajfa-74	169	7	e8	e8	PROPN
ajfa-74	169	8	172	172	PROPN
ajfa-74	169	9	www.macrothink.org/ajfa	www.macrothink.org/ajfa	X
ajfa-74	169	10	mf	mf	NOUN
ajfa-74	169	11	outflows	outflow	NOUN
ajfa-74	169	12	does	do	AUX
ajfa-74	169	13	not	not	PART
ajfa-74	169	14	granger	granger	AUX
ajfa-74	169	15	cause	cause	VERB
ajfa-74	169	16	return	return	NOUN
ajfa-74	169	17	on	on	ADP
ajfa-74	169	18	bse	bse	NOUN
ajfa-74	169	19	sensex	sensex	PROPN
ajfa-74	169	20	0.22	0.22	NUM
ajfa-74	169	21	return	return	NOUN
ajfa-74	169	22	on	on	ADP
ajfa-74	169	23	bse	bse	NOUN
ajfa-74	169	24	sensex	sensex	PROPN
ajfa-74	169	25	does	do	AUX
ajfa-74	169	26	not	not	PART
ajfa-74	169	27	granger	granger	AUX
ajfa-74	169	28	cause	cause	VERB
ajfa-74	169	29	mf	mf	NOUN
ajfa-74	169	30	outflows	outflow	VERB
ajfa-74	169	31	11.11	11.11	NUM
ajfa-74	169	32	*	*	NOUN
ajfa-74	170	1	mf	mf	NOUN
ajfa-74	170	2	outflows	outflow	NOUN
ajfa-74	170	3	does	do	AUX
ajfa-74	170	4	not	not	PART
ajfa-74	170	5	granger	granger	AUX
ajfa-74	170	6	cause	cause	VERB
ajfa-74	170	7	interest	interest	NOUN
ajfa-74	170	8	rates	rate	NOUN
ajfa-74	170	9	15.58	15.58	NUM
ajfa-74	170	10	*	*	NOUN
ajfa-74	170	11	interest	interest	NOUN
ajfa-74	170	12	rates	rate	NOUN
ajfa-74	170	13	does	do	AUX
ajfa-74	170	14	not	not	PART
ajfa-74	170	15	granger	granger	AUX
ajfa-74	170	16	cause	cause	VERB
ajfa-74	170	17	mf	mf	NOUN
ajfa-74	170	18	out	out	ADP
ajfa-74	170	19	flows	flow	VERB
ajfa-74	170	20	14.41	14.41	NUM
ajfa-74	170	21	*	*	SYM
ajfa-74	170	22	fii	fii	PROPN
ajfa-74	170	23	inflows	inflow	NOUN
ajfa-74	170	24	does	do	AUX
ajfa-74	170	25	not	not	PART
ajfa-74	170	26	granger	granger	AUX
ajfa-74	170	27	cause	cause	VERB
ajfa-74	170	28	mf	mf	NOUN
ajfa-74	170	29	inflows	inflow	NOUN
ajfa-74	170	30	8.75	8.75	NUM
ajfa-74	170	31	*	*	NOUN
ajfa-74	170	32	mf	mf	NOUN
ajfa-74	170	33	inflows	inflow	NOUN
ajfa-74	170	34	does	do	AUX
ajfa-74	170	35	not	not	PART
ajfa-74	170	36	granger	granger	AUX
ajfa-74	170	37	cause	cause	VERB
ajfa-74	170	38	fii	fii	PROPN
ajfa-74	170	39	inflows	inflow	NOUN
ajfa-74	170	40	2.84	2.84	NUM
ajfa-74	170	41	fii	fii	PROPN
ajfa-74	170	42	outflows	outflow	NOUN
ajfa-74	170	43	does	do	AUX
ajfa-74	170	44	not	not	PART
ajfa-74	170	45	granger	granger	AUX
ajfa-74	170	46	cause	cause	VERB
ajfa-74	170	47	mf	mf	NOUN
ajfa-74	170	48	outflows	outflow	NOUN
ajfa-74	170	49	9.59	9.59	NUM
ajfa-74	170	50	*	*	NOUN
ajfa-74	170	51	mf	mf	NOUN
ajfa-74	170	52	outflows	outflow	NOUN
ajfa-74	170	53	does	do	AUX
ajfa-74	170	54	not	not	PART
ajfa-74	170	55	granger	granger	AUX
ajfa-74	170	56	cause	cause	VERB
ajfa-74	170	57	fii	fii	PROPN
ajfa-74	170	58	outflows	outflow	VERB
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ajfa-74	170	60	*	*	PUNCT
ajfa-74	170	61	*	*	PUNCT
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ajfa-74	170	63	at	at	ADP
ajfa-74	170	64	5	5	NUM
ajfa-74	170	65	%	%	NOUN
ajfa-74	170	66	level	level	NOUN
ajfa-74	170	67	asian	asian	ADJ
ajfa-74	170	68	journal	journal	NOUN
ajfa-74	170	69	of	of	ADP
ajfa-74	170	70	finance	finance	PROPN
ajfa-74	170	71	&	&	CCONJ
ajfa-74	170	72	accounting	accounting	PROPN
ajfa-74	170	73	issn	issn	PROPN
ajfa-74	170	74	1946	1946	NUM
ajfa-74	170	75	-	-	PUNCT
ajfa-74	170	76	052x	052x	NOUN
ajfa-74	170	77	2009	2009	NUM
ajfa-74	170	78	,	,	PUNCT
ajfa-74	170	79	vol	vol	NOUN
ajfa-74	170	80	.	.	PROPN
ajfa-74	171	1	1	1	NUM
ajfa-74	171	2	,	,	PUNCT
ajfa-74	171	3	no	no	INTJ
ajfa-74	171	4	.	.	NOUN
ajfa-74	171	5	2	2	NUM
ajfa-74	171	6	:	:	PUNCT
ajfa-74	171	7	e8	e8	PROPN
ajfa-74	171	8	173	173	NUM
ajfa-74	171	9	www.macrothink.org/ajfa	www.macrothink.org/ajfa	X
ajfa-74	171	10	table-2	table-2	NUM
ajfa-74	171	11	.	.	PUNCT
ajfa-74	171	12	results	result	NOUN
ajfa-74	171	13	for	for	ADP
ajfa-74	171	14	granger	granger	PROPN
ajfa-74	171	15	linear	linear	PROPN
ajfa-74	171	16	causality	causality	NOUN
ajfa-74	171	17	test	test	NOUN
ajfa-74	171	18	for	for	ADP
ajfa-74	171	19	indian	indian	ADJ
ajfa-74	171	20	debt	debt	NOUN
ajfa-74	171	21	market	market	NOUN
ajfa-74	171	22	(	(	PUNCT
ajfa-74	171	23	2003	2003	NUM
ajfa-74	171	24	-	-	SYM
ajfa-74	171	25	2006	2006	NUM
ajfa-74	171	26	)	)	PUNCT
ajfa-74	171	27	panel	panel	NOUN
ajfa-74	171	28	-	-	PUNCT
ajfa-74	171	29	a	a	NOUN
ajfa-74	171	30	:	:	PUNCT
ajfa-74	171	31	fiis	fiis	NOUN
ajfa-74	171	32	and	and	CCONJ
ajfa-74	171	33	other	other	ADJ
ajfa-74	171	34	variables	variable	NOUN
ajfa-74	171	35	null	null	ADJ
ajfa-74	171	36	hypotheses	hypothesis	NOUN
ajfa-74	171	37	f	f	NOUN
ajfa-74	171	38	-	-	PUNCT
ajfa-74	171	39	statistics	statistic	NOUN
ajfa-74	171	40	fii	fii	PROPN
ajfa-74	171	41	inflows	inflow	NOUN
ajfa-74	171	42	does	do	AUX
ajfa-74	171	43	not	not	PART
ajfa-74	171	44	grange	grange	VERB
ajfa-74	171	45	cause	cause	VERB
ajfa-74	171	46	i	i	PRON
ajfa-74	171	47	-	-	PUNCT
ajfa-74	171	48	bex	bex	PROPN
ajfa-74	171	49	1.34	1.34	NUM
ajfa-74	171	50	i	i	PROPN
ajfa-74	171	51	-	-	PUNCT
ajfa-74	171	52	bex	bex	PROPN
ajfa-74	171	53	does	do	AUX
ajfa-74	171	54	not	not	PART
ajfa-74	171	55	granger	granger	VERB
ajfa-74	171	56	cause	cause	VERB
ajfa-74	171	57	fii	fii	PROPN
ajfa-74	171	58	inflows	inflows	PROPN
ajfa-74	171	59	.81	.81	NUM
ajfa-74	171	60	fii	fii	PROPN
ajfa-74	171	61	inflows	inflow	NOUN
ajfa-74	171	62	does	do	AUX
ajfa-74	171	63	not	not	PART
ajfa-74	171	64	granger	granger	AUX
ajfa-74	171	65	cause	cause	VERB
ajfa-74	171	66	interest	interest	NOUN
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ajfa-74	171	68	.68	.68	NUM
ajfa-74	171	69	interest	interest	NOUN
ajfa-74	171	70	rates	rate	NOUN
ajfa-74	171	71	does	do	AUX
ajfa-74	171	72	not	not	PART
ajfa-74	171	73	granger	granger	AUX
ajfa-74	171	74	cause	cause	VERB
ajfa-74	171	75	fii	fii	PROPN
ajfa-74	171	76	inflows	inflows	PROPN
ajfa-74	171	77	1.45	1.45	NUM
ajfa-74	171	78	fii	fii	PROPN
ajfa-74	171	79	outflows	outflow	NOUN
ajfa-74	171	80	does	do	AUX
ajfa-74	171	81	not	not	PART
ajfa-74	171	82	granger	granger	AUX
ajfa-74	171	83	cause	cause	VERB
ajfa-74	171	84	i	i	PRON
ajfa-74	171	85	-	-	PUNCT
ajfa-74	171	86	bex	bex	PROPN
ajfa-74	171	87	2.06	2.06	NUM
ajfa-74	171	88	i	i	PROPN
ajfa-74	171	89	-	-	PUNCT
ajfa-74	171	90	bex	bex	PROPN
ajfa-74	171	91	does	do	AUX
ajfa-74	171	92	not	not	PART
ajfa-74	171	93	granger	granger	AUX
ajfa-74	171	94	cause	cause	VERB
ajfa-74	171	95	fii	fii	PROPN
ajfa-74	171	96	outflows	outflow	NOUN
ajfa-74	171	97	0.142	0.142	NUM
ajfa-74	171	98	fii	fii	PROPN
ajfa-74	171	99	outlows	outlow	VERB
ajfa-74	171	100	does	do	AUX
ajfa-74	171	101	not	not	PART
ajfa-74	171	102	granger	granger	AUX
ajfa-74	171	103	cause	cause	VERB
ajfa-74	171	104	interest	interest	NOUN
ajfa-74	171	105	rates	rate	NOUN
ajfa-74	171	106	2.40	2.40	NUM
ajfa-74	171	107	interest	interest	NOUN
ajfa-74	171	108	rates	rate	NOUN
ajfa-74	171	109	does	do	AUX
ajfa-74	171	110	not	not	PART
ajfa-74	171	111	granger	granger	AUX
ajfa-74	171	112	cause	cause	VERB
ajfa-74	171	113	fii	fii	PROPN
ajfa-74	171	114	out	out	ADP
ajfa-74	171	115	flows	flow	VERB
ajfa-74	171	116	1.24	1.24	NUM
ajfa-74	171	117	panelb	panelb	NOUN
ajfa-74	171	118	:	:	PUNCT
ajfa-74	171	119	mf	mf	PROPN
ajfa-74	171	120	investment	investment	NOUN
ajfa-74	171	121	(	(	PUNCT
ajfa-74	171	122	dfis	dfis	ADJ
ajfa-74	171	123	)	)	PUNCT
ajfa-74	171	124	and	and	CCONJ
ajfa-74	171	125	other	other	ADJ
ajfa-74	171	126	variables	variable	NOUN
ajfa-74	171	127	null	null	ADJ
ajfa-74	171	128	hypotheses	hypothesis	NOUN
ajfa-74	171	129	f	f	NOUN
ajfa-74	171	130	-	-	PUNCT
ajfa-74	171	131	statistics	statistic	NOUN
ajfa-74	171	132	mf	mf	NOUN
ajfa-74	171	133	inflows	inflow	NOUN
ajfa-74	171	134	does	do	AUX
ajfa-74	171	135	not	not	PART
ajfa-74	171	136	granger	granger	AUX
ajfa-74	171	137	cause	cause	VERB
ajfa-74	171	138	i	i	PRON
ajfa-74	171	139	-	-	PUNCT
ajfa-74	171	140	bex	bex	PROPN
ajfa-74	171	141	5.35	5.35	NUM
ajfa-74	171	142	*	*	PUNCT
ajfa-74	171	143	i	i	PROPN
ajfa-74	171	144	-	-	PUNCT
ajfa-74	171	145	bex	bex	PROPN
ajfa-74	171	146	does	do	AUX
ajfa-74	171	147	not	not	PART
ajfa-74	171	148	granger	granger	AUX
ajfa-74	171	149	cause	cause	VERB
ajfa-74	171	150	mf	mf	NOUN
ajfa-74	171	151	inflows	inflow	NOUN
ajfa-74	171	152	0.63	0.63	NUM
ajfa-74	171	153	mf	mf	NOUN
ajfa-74	171	154	inflows	inflow	NOUN
ajfa-74	171	155	does	do	AUX
ajfa-74	171	156	not	not	PART
ajfa-74	171	157	grange	grange	VERB
ajfa-74	171	158	cause	cause	VERB
ajfa-74	171	159	interest	interest	NOUN
ajfa-74	171	160	rates	rate	NOUN
ajfa-74	171	161	2.07	2.07	NUM
ajfa-74	171	162	interest	interest	NOUN
ajfa-74	171	163	rates	rate	NOUN
ajfa-74	171	164	does	do	AUX
ajfa-74	171	165	not	not	PART
ajfa-74	171	166	granger	granger	AUX
ajfa-74	171	167	cause	cause	VERB
ajfa-74	171	168	mf	mf	NOUN
ajfa-74	171	169	inflows	inflow	NOUN
ajfa-74	171	170	0.001	0.001	NUM
ajfa-74	171	171	mf	mf	NOUN
ajfa-74	171	172	outflows	outflow	NOUN
ajfa-74	171	173	does	do	AUX
ajfa-74	171	174	not	not	PART
ajfa-74	171	175	granger	granger	AUX
ajfa-74	171	176	cause	cause	VERB
ajfa-74	171	177	i	i	PRON
ajfa-74	171	178	-	-	PUNCT
ajfa-74	171	179	bex	bex	PROPN
ajfa-74	172	1	4.29	4.29	NUM
ajfa-74	172	2	*	*	NOUN
ajfa-74	172	3	i	i	PROPN
ajfa-74	172	4	-	-	PUNCT
ajfa-74	172	5	bex	bex	PROPN
ajfa-74	172	6	does	do	AUX
ajfa-74	172	7	not	not	PART
ajfa-74	172	8	granger	granger	AUX
ajfa-74	172	9	cause	cause	VERB
ajfa-74	172	10	mf	mf	NOUN
ajfa-74	172	11	outflows	outflow	NOUN
ajfa-74	172	12	2.28	2.28	NUM
ajfa-74	172	13	mf	mf	NOUN
ajfa-74	172	14	outflows	outflow	NOUN
ajfa-74	172	15	does	do	AUX
ajfa-74	172	16	not	not	PART
ajfa-74	172	17	granger	granger	AUX
ajfa-74	172	18	cause	cause	VERB
ajfa-74	172	19	interest	interest	NOUN
ajfa-74	172	20	rates	rate	NOUN
ajfa-74	172	21	0.68	0.68	NUM
ajfa-74	172	22	interest	interest	NOUN
ajfa-74	172	23	rates	rate	NOUN
ajfa-74	172	24	does	do	AUX
ajfa-74	172	25	not	not	PART
ajfa-74	172	26	granger	granger	AUX
ajfa-74	172	27	cause	cause	VERB
ajfa-74	172	28	mf	mf	NOUN
ajfa-74	172	29	out	out	ADP
ajfa-74	172	30	flows	flow	VERB
ajfa-74	172	31	0.006	0.006	NUM
ajfa-74	172	32	mf	mf	NOUN
ajfa-74	172	33	inflows	inflow	NOUN
ajfa-74	172	34	does	do	AUX
ajfa-74	172	35	not	not	PART
ajfa-74	172	36	granger	granger	AUX
ajfa-74	172	37	cause	cause	VERB
ajfa-74	172	38	fii	fii	PROPN
ajfa-74	172	39	inflows	inflow	NOUN
ajfa-74	172	40	2.67	2.67	NUM
ajfa-74	172	41	*	*	SYM
ajfa-74	172	42	fii	fii	PROPN
ajfa-74	172	43	inflows	inflow	NOUN
ajfa-74	172	44	does	do	AUX
ajfa-74	172	45	not	not	PART
ajfa-74	172	46	granger	granger	AUX
ajfa-74	172	47	cause	cause	VERB
ajfa-74	172	48	mf	mf	NOUN
ajfa-74	172	49	inflows	inflow	NOUN
ajfa-74	172	50	0.76	0.76	NUM
ajfa-74	172	51	*	*	PUNCT
ajfa-74	172	52	significant	significant	ADJ
ajfa-74	172	53	at	at	ADP
ajfa-74	172	54	5	5	NUM
ajfa-74	172	55	%	%	NOUN
ajfa-74	172	56	level	level	NOUN
ajfa-74	172	57	asian	asian	ADJ
ajfa-74	172	58	journal	journal	NOUN
ajfa-74	172	59	of	of	ADP
ajfa-74	172	60	finance	finance	PROPN
ajfa-74	172	61	&	&	CCONJ
ajfa-74	172	62	accounting	accounting	PROPN
ajfa-74	172	63	issn	issn	PROPN
ajfa-74	172	64	1946	1946	NUM
ajfa-74	172	65	-	-	PUNCT
ajfa-74	172	66	052x	052x	NOUN
ajfa-74	172	67	2009	2009	NUM
ajfa-74	172	68	,	,	PUNCT
ajfa-74	172	69	vol	vol	NOUN
ajfa-74	172	70	.	.	PROPN
ajfa-74	172	71	1	1	NUM
ajfa-74	172	72	,	,	PUNCT
ajfa-74	172	73	no	no	INTJ
ajfa-74	172	74	.	.	NOUN
ajfa-74	172	75	2	2	NUM
ajfa-74	172	76	:	:	PUNCT
ajfa-74	172	77	e8	e8	PROPN
ajfa-74	172	78	174	174	NUM
ajfa-74	172	79	www.macrothink.org/ajfa	www.macrothink.org/ajfa	PROPN
ajfa-74	172	80	references	reference	NOUN
ajfa-74	172	81	brennan	brennan	PROPN
ajfa-74	172	82	,	,	PUNCT
ajfa-74	172	83	michael	michael	PROPN
ajfa-74	172	84	j.	j.	PROPN
ajfa-74	172	85	and	and	CCONJ
ajfa-74	172	86	h.	h.	PROPN
ajfa-74	172	87	henry	henry	PROPN
ajfa-74	172	88	cao	cao	PROPN
ajfa-74	172	89	(	(	PUNCT
ajfa-74	172	90	1997	1997	NUM
ajfa-74	172	91	)	)	PUNCT
ajfa-74	172	92	,	,	PUNCT
ajfa-74	172	93	international	international	ADJ
ajfa-74	172	94	portfolio	portfolio	NOUN
ajfa-74	172	95	investment	investment	NOUN
ajfa-74	172	96	flows	flow	NOUN
ajfa-74	172	97	,	,	PUNCT
ajfa-74	172	98	journal	journal	NOUN
ajfa-74	172	99	of	of	ADP
ajfa-74	172	100	finance	finance	NOUN
ajfa-74	172	101	"	"	PUNCT
ajfa-74	172	102	,	,	PUNCT
ajfa-74	172	103	vol	vol	NOUN
ajfa-74	172	104	.	.	PUNCT
ajfa-74	173	1	lii	lii	PROPN
ajfa-74	173	2	,	,	PUNCT
ajfa-74	173	3	no.5	no.5	PROPN
ajfa-74	173	4	,	,	PUNCT
ajfa-74	173	5	december	december	PROPN
ajfa-74	173	6	,	,	PUNCT
ajfa-74	173	7	pp.1851	pp.1851	PROPN
ajfa-74	173	8	-	-	PUNCT
ajfa-74	173	9	1880	1880	NUM
ajfa-74	173	10	.	.	PUNCT
ajfa-74	174	1	calvo	calvo	PROPN
ajfa-74	174	2	,	,	PUNCT
ajfa-74	174	3	guillermo	guillermo	PROPN
ajfa-74	174	4	a.	a.	PROPN
ajfa-74	174	5	,	,	PUNCT
ajfa-74	174	6	and	and	CCONJ
ajfa-74	174	7	enrique	enrique	PROPN
ajfa-74	174	8	g.	g.	PROPN
ajfa-74	174	9	mendoza	mendoza	PROPN
ajfa-74	174	10	,	,	PUNCT
ajfa-74	174	11	(	(	PUNCT
ajfa-74	174	12	2000	2000	NUM
ajfa-74	174	13	)	)	PUNCT
ajfa-74	174	14	,	,	PUNCT
ajfa-74	174	15	“	"	PUNCT
ajfa-74	174	16	rational	rational	ADJ
ajfa-74	174	17	contagion	contagion	NOUN
ajfa-74	174	18	and	and	CCONJ
ajfa-74	174	19	the	the	DET
ajfa-74	174	20	globalization	globalization	NOUN
ajfa-74	174	21	of	of	ADP
ajfa-74	174	22	securities	security	NOUN
ajfa-74	174	23	markets	market	NOUN
ajfa-74	174	24	”	"	PUNCT
ajfa-74	174	25	,	,	PUNCT
ajfa-74	174	26	journal	journal	NOUN
ajfa-74	174	27	of	of	ADP
ajfa-74	174	28	international	international	ADJ
ajfa-74	174	29	economics	economic	NOUN
ajfa-74	174	30	vol	vol	NOUN
ajfa-74	174	31	.	.	PROPN
ajfa-74	175	1	51	51	NUM
ajfa-74	175	2	,	,	PUNCT
ajfa-74	175	3	pp	pp	ADJ
ajfa-74	175	4	.	.	PUNCT
ajfa-74	176	1	79	79	NUM
ajfa-74	176	2	-	-	SYM
ajfa-74	176	3	113	113	NUM
ajfa-74	176	4	cooper	cooper	NOUN
ajfa-74	176	5	,	,	PUNCT
ajfa-74	176	6	ian	ian	PROPN
ajfa-74	176	7	a.	a.	NOUN
ajfa-74	176	8	,	,	PUNCT
ajfa-74	176	9	and	and	CCONJ
ajfa-74	176	10	evi	evi	PROPN
ajfa-74	176	11	kaplanis	kaplanis	PROPN
ajfa-74	176	12	(	(	PUNCT
ajfa-74	176	13	1998	1998	NUM
ajfa-74	176	14	)	)	PUNCT
ajfa-74	176	15	,	,	PUNCT
ajfa-74	176	16	"	"	PUNCT
ajfa-74	176	17	home	home	NOUN
ajfa-74	176	18	bias	bias	NOUN
ajfa-74	176	19	in	in	ADP
ajfa-74	176	20	equity	equity	NOUN
ajfa-74	176	21	portfolios	portfolio	NOUN
ajfa-74	176	22	,	,	PUNCT
ajfa-74	176	23	inflation	inflation	NOUN
ajfa-74	176	24	hedging	hedging	NOUN
ajfa-74	176	25	,	,	PUNCT
ajfa-74	176	26	and	and	CCONJ
ajfa-74	176	27	international	international	ADJ
ajfa-74	176	28	capital	capital	NOUN
ajfa-74	176	29	market	market	NOUN
ajfa-74	176	30	equilibrium	equilibrium	NOUN
ajfa-74	176	31	"	"	PUNCT
ajfa-74	176	32	.	.	PUNCT
ajfa-74	177	1	review	review	NOUN
ajfa-74	177	2	of	of	ADP
ajfa-74	177	3	financial	financial	ADJ
ajfa-74	177	4	studies	study	NOUN
ajfa-74	177	5	,	,	PUNCT
ajfa-74	177	6	vol.7	vol.7	PROPN
ajfa-74	177	7	,	,	PUNCT
ajfa-74	177	8	pp	pp	ADJ
ajfa-74	177	9	.	.	PUNCT
ajfa-74	178	1	45	45	NUM
ajfa-74	178	2	-	-	SYM
ajfa-74	178	3	60	60	NUM
ajfa-74	178	4	.	.	PUNCT
ajfa-74	179	1	frankel	frankel	PROPN
ajfa-74	179	2	,	,	PUNCT
ajfa-74	179	3	j.	j.	PROPN
ajfa-74	179	4	,	,	PUNCT
ajfa-74	179	5	(	(	PUNCT
ajfa-74	179	6	1982	1982	NUM
ajfa-74	179	7	)	)	PUNCT
ajfa-74	179	8	,	,	PUNCT
ajfa-74	179	9	“	"	PUNCT
ajfa-74	179	10	a	a	DET
ajfa-74	179	11	search	search	NOUN
ajfa-74	179	12	of	of	ADP
ajfa-74	179	13	the	the	DET
ajfa-74	179	14	exchange	exchange	NOUN
ajfa-74	179	15	risk	risk	NOUN
ajfa-74	179	16	premium	premium	NOUN
ajfa-74	179	17	:	:	PUNCT
ajfa-74	179	18	a	a	DET
ajfa-74	179	19	six	six	NUM
ajfa-74	179	20	currency	currency	NOUN
ajfa-74	179	21	test	test	NOUN
ajfa-74	179	22	assuming	assume	VERB
ajfa-74	179	23	mean	mean	ADJ
ajfa-74	179	24	variance	variance	NOUN
ajfa-74	179	25	optimization	optimization	NOUN
ajfa-74	179	26	”	"	PUNCT
ajfa-74	179	27	journal	journal	NOUN
ajfa-74	179	28	of	of	ADP
ajfa-74	179	29	international	international	ADJ
ajfa-74	179	30	money	money	NOUN
ajfa-74	179	31	and	and	CCONJ
ajfa-74	179	32	finance	finance	NOUN
ajfa-74	179	33	”	"	PUNCT
ajfa-74	179	34	vol.1	vol.1	PROPN
ajfa-74	179	35	pp	pp	ADP
ajfa-74	179	36	255	255	NUM
ajfa-74	179	37	-	-	SYM
ajfa-74	179	38	274	274	NUM
ajfa-74	179	39	.	.	PUNCT
ajfa-74	180	1	frankel	frankel	PROPN
ajfa-74	180	2	,	,	PUNCT
ajfa-74	180	3	j.	j.	PROPN
ajfa-74	180	4	,	,	PUNCT
ajfa-74	180	5	schmukler	schmukler	PROPN
ajfa-74	180	6	,	,	PUNCT
ajfa-74	180	7	s.	s.	PROPN
ajfa-74	180	8	,	,	PUNCT
ajfa-74	180	9	(	(	PUNCT
ajfa-74	180	10	2000	2000	NUM
ajfa-74	180	11	)	)	PUNCT
ajfa-74	180	12	“	"	PUNCT
ajfa-74	180	13	country	country	NOUN
ajfa-74	180	14	funds	fund	NOUN
ajfa-74	180	15	and	and	CCONJ
ajfa-74	180	16	asymmetric	asymmetric	ADJ
ajfa-74	180	17	information	information	NOUN
ajfa-74	180	18	”	"	PUNCT
ajfa-74	180	19	.	.	PUNCT
ajfa-74	181	1	international	international	ADJ
ajfa-74	181	2	journal	journal	PROPN
ajfa-74	181	3	of	of	ADP
ajfa-74	181	4	finance	finance	NOUN
ajfa-74	181	5	and	and	CCONJ
ajfa-74	181	6	economics	economic	NOUN
ajfa-74	181	7	vol	vol	NOUN
ajfa-74	181	8	.	.	PROPN
ajfa-74	181	9	5	5	NUM
ajfa-74	181	10	,	,	PUNCT
ajfa-74	181	11	pp	pp	ADJ
ajfa-74	181	12	.	.	PUNCT
ajfa-74	182	1	177–195	177–195	NUM
ajfa-74	182	2	french	french	NOUN
ajfa-74	182	3	,	,	PUNCT
ajfa-74	182	4	kenneth	kenneth	PROPN
ajfa-74	182	5	and	and	CCONJ
ajfa-74	182	6	j.	j.	PROPN
ajfa-74	182	7	poterba	poterba	PROPN
ajfa-74	182	8	(	(	PUNCT
ajfa-74	182	9	1991	1991	NUM
ajfa-74	182	10	)	)	PUNCT
ajfa-74	182	11	,	,	PUNCT
ajfa-74	182	12	“	"	PUNCT
ajfa-74	182	13	investors	investor	NOUN
ajfa-74	182	14	diversification	diversification	NOUN
ajfa-74	182	15	and	and	CCONJ
ajfa-74	182	16	international	international	ADJ
ajfa-74	182	17	equity	equity	NOUN
ajfa-74	182	18	markets	market	NOUN
ajfa-74	182	19	”	"	PUNCT
ajfa-74	182	20	american	american	PROPN
ajfa-74	182	21	economic	economic	PROPN
ajfa-74	182	22	review	review	PROPN
ajfa-74	182	23	,	,	PUNCT
ajfa-74	182	24	vol.81	vol.81	NOUN
ajfa-74	182	25	,	,	PUNCT
ajfa-74	182	26	pp	pp	ADJ
ajfa-74	182	27	222	222	NUM
ajfa-74	182	28	-	-	SYM
ajfa-74	182	29	226	226	NUM
ajfa-74	182	30	gehrig	gehrig	NOUN
ajfa-74	182	31	,	,	PUNCT
ajfa-74	182	32	t.	t.	PROPN
ajfa-74	182	33	(	(	PUNCT
ajfa-74	182	34	1993	1993	NUM
ajfa-74	182	35	)	)	PUNCT
ajfa-74	182	36	,	,	PUNCT
ajfa-74	182	37	“	"	PUNCT
ajfa-74	182	38	an	an	DET
ajfa-74	182	39	information	information	NOUN
ajfa-74	182	40	based	base	VERB
ajfa-74	182	41	explanation	explanation	NOUN
ajfa-74	182	42	of	of	ADP
ajfa-74	182	43	the	the	DET
ajfa-74	182	44	domestic	domestic	ADJ
ajfa-74	182	45	bias	bias	NOUN
ajfa-74	182	46	in	in	ADP
ajfa-74	182	47	international	international	ADJ
ajfa-74	182	48	equity	equity	NOUN
ajfa-74	182	49	investment	investment	NOUN
ajfa-74	182	50	”	"	PUNCT
ajfa-74	182	51	scandinavian	scandinavian	ADJ
ajfa-74	182	52	journal	journal	NOUN
ajfa-74	182	53	of	of	ADP
ajfa-74	182	54	economics	economic	NOUN
ajfa-74	182	55	,	,	PUNCT
ajfa-74	182	56	vol	vol	NOUN
ajfa-74	182	57	.	.	PROPN
ajfa-74	182	58	95	95	NUM
ajfa-74	182	59	,	,	PUNCT
ajfa-74	182	60	pp	pp	ADJ
ajfa-74	182	61	.	.	PUNCT
ajfa-74	183	1	97	97	NUM
ajfa-74	183	2	-	-	SYM
ajfa-74	183	3	109	109	NUM
ajfa-74	183	4	.	.	PUNCT
ajfa-74	184	1	grinblatt	grinblatt	PROPN
ajfa-74	184	2	,	,	PUNCT
ajfa-74	184	3	mark	mark	NOUN
ajfa-74	184	4	,	,	PUNCT
ajfa-74	184	5	and	and	CCONJ
ajfa-74	184	6	matti	matti	PROPN
ajfa-74	184	7	keloharju	keloharju	PROPN
ajfa-74	184	8	,	,	PUNCT
ajfa-74	184	9	(	(	PUNCT
ajfa-74	184	10	2000	2000	NUM
ajfa-74	184	11	)	)	PUNCT
ajfa-74	184	12	,	,	PUNCT
ajfa-74	184	13	“	"	PUNCT
ajfa-74	184	14	the	the	DET
ajfa-74	184	15	investment	investment	NOUN
ajfa-74	184	16	behavior	behavior	NOUN
ajfa-74	184	17	and	and	CCONJ
ajfa-74	184	18	performance	performance	NOUN
ajfa-74	184	19	of	of	ADP
ajfa-74	184	20	various	various	ADJ
ajfa-74	184	21	investor	investor	NOUN
ajfa-74	184	22	types	type	NOUN
ajfa-74	184	23	:	:	PUNCT
ajfa-74	184	24	a	a	DET
ajfa-74	184	25	study	study	NOUN
ajfa-74	184	26	of	of	ADP
ajfa-74	184	27	finland	finland	PROPN
ajfa-74	184	28	’s	’s	PART
ajfa-74	184	29	unique	unique	ADJ
ajfa-74	184	30	data	datum	NOUN
ajfa-74	184	31	set	set	NOUN
ajfa-74	184	32	”	"	PUNCT
ajfa-74	184	33	,	,	PUNCT
ajfa-74	184	34	journal	journal	NOUN
ajfa-74	184	35	of	of	ADP
ajfa-74	184	36	financial	financial	ADJ
ajfa-74	184	37	economics	economic	NOUN
ajfa-74	184	38	vol	vol	NOUN
ajfa-74	184	39	.	.	PUNCT
ajfa-74	185	1	55	55	NUM
ajfa-74	185	2	,	,	PUNCT
ajfa-74	185	3	pp	pp	ADJ
ajfa-74	185	4	.	.	PUNCT
ajfa-74	186	1	43	43	NUM
ajfa-74	186	2	-	-	SYM
ajfa-74	186	3	67	67	NUM
ajfa-74	186	4	.	.	PUNCT
ajfa-74	187	1	hasan	hasan	PROPN
ajfa-74	187	2	,	,	PUNCT
ajfa-74	187	3	ifekhar	ifekhar	PROPN
ajfa-74	187	4	,	,	PUNCT
ajfa-74	187	5	and	and	CCONJ
ajfa-74	187	6	simaan	simaan	PROPN
ajfa-74	187	7	yusif	yusif	NOUN
ajfa-74	187	8	,	,	PUNCT
ajfa-74	187	9	(	(	PUNCT
ajfa-74	187	10	2000	2000	NUM
ajfa-74	187	11	)	)	PUNCT
ajfa-74	187	12	,	,	PUNCT
ajfa-74	187	13	“	"	PUNCT
ajfa-74	187	14	a	a	DET
ajfa-74	187	15	rational	rational	ADJ
ajfa-74	187	16	explanation	explanation	NOUN
ajfa-74	187	17	for	for	ADP
ajfa-74	187	18	home	home	NOUN
ajfa-74	187	19	country	country	NOUN
ajfa-74	187	20	bias	bias	NOUN
ajfa-74	187	21	”	"	PUNCT
ajfa-74	187	22	journal	journal	NOUN
ajfa-74	187	23	of	of	ADP
ajfa-74	187	24	international	international	ADJ
ajfa-74	187	25	money	money	NOUN
ajfa-74	187	26	and	and	CCONJ
ajfa-74	187	27	finance	finance	NOUN
ajfa-74	187	28	vol	vol	NOUN
ajfa-74	187	29	.	.	PROPN
ajfa-74	187	30	67	67	NUM
ajfa-74	187	31	,	,	PUNCT
ajfa-74	187	32	pp	pp	ADJ
ajfa-74	187	33	.	.	PUNCT
ajfa-74	188	1	942	942	NUM
ajfa-74	188	2	-	-	SYM
ajfa-74	188	3	948	948	NUM
ajfa-74	188	4	.	.	PUNCT
ajfa-74	188	5	kang	kang	PROPN
ajfa-74	188	6	,	,	PUNCT
ajfa-74	188	7	j.-k	j.-k	PROPN
ajfa-74	188	8	.	.	PUNCT
ajfa-74	188	9	,	,	PUNCT
ajfa-74	188	10	stulz	stulz	ADJ
ajfa-74	188	11	,	,	PUNCT
ajfa-74	188	12	r.m	r.m	PROPN
ajfa-74	188	13	.	.	PROPN
ajfa-74	188	14	,	,	PUNCT
ajfa-74	188	15	(	(	PUNCT
ajfa-74	188	16	1997	1997	NUM
ajfa-74	188	17	)	)	PUNCT
ajfa-74	188	18	.	.	PUNCT
ajfa-74	189	1	“	"	PUNCT
ajfa-74	189	2	why	why	SCONJ
ajfa-74	189	3	is	be	AUX
ajfa-74	189	4	there	there	PRON
ajfa-74	189	5	a	a	DET
ajfa-74	189	6	home	home	NOUN
ajfa-74	189	7	bias	bias	NOUN
ajfa-74	189	8	?	?	PUNCT
ajfa-74	190	1	an	an	DET
ajfa-74	190	2	analysis	analysis	NOUN
ajfa-74	190	3	of	of	ADP
ajfa-74	190	4	foreign	foreign	ADJ
ajfa-74	190	5	portfolio	portfolio	NOUN
ajfa-74	190	6	equity	equity	NOUN
ajfa-74	190	7	ownership	ownership	NOUN
ajfa-74	190	8	in	in	ADP
ajfa-74	190	9	japan	japan	PROPN
ajfa-74	190	10	”	"	PUNCT
ajfa-74	190	11	.	.	PUNCT
ajfa-74	191	1	journal	journal	PROPN
ajfa-74	191	2	of	of	ADP
ajfa-74	191	3	financial	financial	ADJ
ajfa-74	191	4	economics	economic	NOUN
ajfa-74	191	5	,	,	PUNCT
ajfa-74	191	6	vol	vol	NOUN
ajfa-74	191	7	.	.	PROPN
ajfa-74	191	8	46	46	NUM
ajfa-74	191	9	,	,	PUNCT
ajfa-74	191	10	pp	pp	ADJ
ajfa-74	191	11	.	.	NOUN
ajfa-74	191	12	3	3	NUM
ajfa-74	191	13	–	–	SYM
ajfa-74	191	14	28	28	NUM
ajfa-74	191	15	.	.	PUNCT
ajfa-74	192	1	portes	portes	PROPN
ajfa-74	192	2	,	,	PUNCT
ajfa-74	192	3	r.	r.	PROPN
ajfa-74	192	4	&	&	CCONJ
ajfa-74	192	5	,	,	PUNCT
ajfa-74	192	6	rey	rey	PROPN
ajfa-74	192	7	,	,	PUNCT
ajfa-74	192	8	h.	h.	PROPN
ajfa-74	192	9	,	,	PUNCT
ajfa-74	192	10	(	(	PUNCT
ajfa-74	192	11	1999	1999	NUM
ajfa-74	192	12	)	)	PUNCT
ajfa-74	192	13	.	.	PUNCT
ajfa-74	193	1	“	"	PUNCT
ajfa-74	193	2	the	the	DET
ajfa-74	193	3	determinants	determinant	NOUN
ajfa-74	193	4	of	of	ADP
ajfa-74	193	5	cross	cross	ADJ
ajfa-74	193	6	border	border	NOUN
ajfa-74	193	7	equity	equity	NOUN
ajfa-74	193	8	flows	flow	NOUN
ajfa-74	193	9	.	.	PUNCT
ajfa-74	193	10	”	"	PUNCT
ajfa-74	194	1	working	work	VERB
ajfa-74	194	2	paper	paper	NOUN
ajfa-74	194	3	7336	7336	NUM
ajfa-74	194	4	,	,	PUNCT
ajfa-74	194	5	issued	issue	VERB
ajfa-74	194	6	in	in	ADP
ajfa-74	194	7	september	september	PROPN
ajfa-74	194	8	1999	1999	NUM
ajfa-74	194	9	,	,	PUNCT
ajfa-74	194	10	national	national	ADJ
ajfa-74	194	11	bureau	bureau	PROPN
ajfa-74	194	12	of	of	ADP
ajfa-74	194	13	economic	economic	ADJ
ajfa-74	194	14	research	research	NOUN
ajfa-74	194	15	,	,	PUNCT
ajfa-74	194	16	cambridge	cambridge	PROPN
ajfa-74	194	17	,	,	PUNCT
ajfa-74	194	18	ma	ma	PROPN
ajfa-74	194	19	.	.	PROPN
ajfa-74	194	20	,www.nber.org	,www.nber.org	PUNCT
ajfa-74	194	21	/	/	SYM
ajfa-74	194	22	paper	paper	NOUN
ajfa-74	194	23	/	/	SYM
ajfa-74	194	24	w7336	w7336	NOUN
ajfa-74	194	25	seasholes	seashole	NOUN
ajfa-74	194	26	,	,	PUNCT
ajfa-74	194	27	m.	m.	NOUN
ajfa-74	194	28	,	,	PUNCT
ajfa-74	194	29	(	(	PUNCT
ajfa-74	194	30	2000	2000	NUM
ajfa-74	194	31	)	)	PUNCT
ajfa-74	194	32	,	,	PUNCT
ajfa-74	194	33	“	"	PUNCT
ajfa-74	194	34	smart	smart	ADJ
ajfa-74	194	35	foreign	foreign	ADJ
ajfa-74	194	36	traders	trader	NOUN
ajfa-74	194	37	in	in	ADP
ajfa-74	194	38	emerging	emerge	VERB
ajfa-74	194	39	markets	market	NOUN
ajfa-74	194	40	”	"	PUNCT
ajfa-74	194	41	,	,	PUNCT
ajfa-74	194	42	unpublished	unpublished	ADJ
ajfa-74	194	43	working	working	NOUN
ajfa-74	194	44	paper	paper	NOUN
ajfa-74	194	45	,	,	PUNCT
ajfa-74	194	46	university	university	PROPN
ajfa-74	194	47	of	of	ADP
ajfa-74	194	48	california	california	PROPN
ajfa-74	194	49	,	,	PUNCT
ajfa-74	194	50	berkeley	berkeley	PROPN
ajfa-74	194	51	.	.	PUNCT
ajfa-74	195	1	sehgal	sehgal	PROPN
ajfa-74	195	2	,	,	PUNCT
ajfa-74	195	3	s.	s.	PROPN
ajfa-74	195	4	and	and	CCONJ
ajfa-74	195	5	tripathi	tripathi	PROPN
ajfa-74	195	6	,	,	PUNCT
ajfa-74	195	7	n.	n.	PROPN
ajfa-74	195	8	(	(	PUNCT
ajfa-74	195	9	2006	2006	NUM
ajfa-74	195	10	-	-	SYM
ajfa-74	195	11	07	07	NUM
ajfa-74	195	12	)	)	PUNCT
ajfa-74	195	13	,	,	PUNCT
ajfa-74	195	14	“	"	PUNCT
ajfa-74	195	15	foreign	foreign	ADJ
ajfa-74	195	16	institutional	institutional	ADJ
ajfa-74	195	17	investment	investment	NOUN
ajfa-74	195	18	in	in	ADP
ajfa-74	195	19	india	india	PROPN
ajfa-74	195	20	:	:	PUNCT
ajfa-74	195	21	a	a	DET
ajfa-74	195	22	study	study	NOUN
ajfa-74	195	23	of	of	ADP
ajfa-74	195	24	determinants	determinant	NOUN
ajfa-74	195	25	and	and	CCONJ
ajfa-74	195	26	impact	impact	NOUN
ajfa-74	195	27	on	on	ADP
ajfa-74	195	28	stock	stock	NOUN
ajfa-74	195	29	market	market	NOUN
ajfa-74	195	30	characteristics	characteristic	NOUN
ajfa-74	195	31	”	"	PUNCT
ajfa-74	195	32	indian	indian	PROPN
ajfa-74	195	33	journal	journal	NOUN
ajfa-74	195	34	of	of	ADP
ajfa-74	195	35	finance	finance	NOUN
ajfa-74	195	36	and	and	CCONJ
ajfa-74	195	37	research	research	NOUN
ajfa-74	195	38	,	,	PUNCT
ajfa-74	195	39	vol.16	vol.16	PROPN
ajfa-74	195	40	,	,	PUNCT
ajfa-74	195	41	issue	issue	NOUN
ajfa-74	195	42	(	(	PUNCT
ajfa-74	195	43	i	i	NOUN
ajfa-74	195	44	)	)	PUNCT
ajfa-74	195	45	and	and	CCONJ
ajfa-74	195	46	(	(	PUNCT
ajfa-74	195	47	ii),jan	ii),jan	PROPN
ajfa-74	195	48	-	-	PUNCT
ajfa-74	195	49	july	july	PROPN
ajfa-74	195	50	2006	2006	NUM
ajfa-74	195	51	-	-	SYM
ajfa-74	195	52	07	07	NUM
ajfa-74	195	53	.	.	PUNCT
ajfa-74	196	1	tesar	tesar	ADJ
ajfa-74	196	2	,	,	PUNCT
ajfa-74	196	3	linda	linda	PROPN
ajfa-74	196	4	and	and	CCONJ
ajfa-74	196	5	i.	i.	PROPN
ajfa-74	196	6	werner	werner	PROPN
ajfa-74	196	7	(	(	PUNCT
ajfa-74	196	8	1995	1995	NUM
ajfa-74	196	9	)	)	PUNCT
ajfa-74	196	10	,	,	PUNCT
ajfa-74	196	11	"	"	PUNCT
ajfa-74	196	12	home	home	NOUN
ajfa-74	196	13	bias	bias	NOUN
ajfa-74	196	14	and	and	CCONJ
ajfa-74	196	15	high	high	ADJ
ajfa-74	196	16	turnover	turnover	NOUN
ajfa-74	196	17	"	"	PUNCT
ajfa-74	196	18	.	.	PUNCT
ajfa-74	197	1	journal	journal	PROPN
ajfa-74	197	2	of	of	ADP
ajfa-74	197	3	international	international	ADJ
ajfa-74	197	4	money	money	NOUN
ajfa-74	197	5	and	and	CCONJ
ajfa-74	197	6	finance	finance	NOUN
ajfa-74	197	7	,	,	PUNCT
ajfa-74	197	8	vol.14	vol.14	NOUN
ajfa-74	197	9	,	,	PUNCT
ajfa-74	197	10	pp.467	pp.467	NOUN
ajfa-74	197	11	-	-	PUNCT
ajfa-74	197	12	492	492	NUM
ajfa-74	197	13	.	.	PUNCT
ajfa-74	198	1	warnock	warnock	PROPN
ajfa-74	198	2	,	,	PUNCT
ajfa-74	198	3	francis	francis	PROPN
ajfa-74	198	4	e.	e.	PROPN
ajfa-74	198	5	,	,	PUNCT
ajfa-74	198	6	(	(	PUNCT
ajfa-74	198	7	2001	2001	NUM
ajfa-74	198	8	)	)	PUNCT
ajfa-74	198	9	,	,	PUNCT
ajfa-74	198	10	“	"	PUNCT
ajfa-74	198	11	home	home	NOUN
ajfa-74	198	12	bias	bias	NOUN
ajfa-74	198	13	and	and	CCONJ
ajfa-74	198	14	high	high	ADJ
ajfa-74	198	15	turnover	turnover	NOUN
ajfa-74	198	16	reconsidered	reconsider	VERB
ajfa-74	198	17	,	,	PUNCT
ajfa-74	198	18	board	board	NOUN
ajfa-74	198	19	of	of	ADP
ajfa-74	198	20	governors	governor	NOUN
ajfa-74	198	21	of	of	ADP
ajfa-74	198	22	the	the	DET
ajfa-74	198	23	federal	federal	PROPN
ajfa-74	198	24	reserve	reserve	PROPN
ajfa-74	198	25	system	system	NOUN
ajfa-74	198	26	”	"	PUNCT
ajfa-74	198	27	international	international	ADJ
ajfa-74	198	28	finance	finance	NOUN
ajfa-74	198	29	discussion	discussion	NOUN
ajfa-74	198	30	group	group	NOUN
ajfa-74	198	31	papers	paper	NOUN
ajfa-74	198	32	no	no	INTJ
ajfa-74	198	33	.	.	NOUN
ajfa-74	199	1	702	702	NUM
ajfa-74	199	2	.	.	PUNCT