id	sid	tid	token	lemma	pos
ajfa-8136	1	1	microsoft	microsoft	PROPN
ajfa-8136	1	2	word	word	NOUN
ajfa-8136	1	3	8136	8136	NUM
ajfa-8136	1	4	-	-	SYM
ajfa-8136	1	5	29379	29379	NUM
ajfa-8136	1	6	-	-	PUNCT
ajfa-8136	1	7	1	1	NUM
ajfa-8136	1	8	-	-	PUNCT
ajfa-8136	1	9	sm	sm	NOUN
ajfa-8136	1	10	-	-	PUNCT
ajfa-8136	1	11	writer2	writer2	VERB
ajfa-8136	1	12	-	-	ADJ
ajfa-8136	1	13	new	new	ADJ
ajfa-8136	1	14	asian	asian	ADJ
ajfa-8136	1	15	journal	journal	NOUN
ajfa-8136	1	16	of	of	ADP
ajfa-8136	1	17	finance	finance	PROPN
ajfa-8136	1	18	&	&	CCONJ
ajfa-8136	1	19	accounting	accounting	PROPN
ajfa-8136	1	20	issn	issn	PROPN
ajfa-8136	1	21	1946	1946	NUM
ajfa-8136	1	22	-	-	PUNCT
ajfa-8136	1	23	052x	052x	NOUN
ajfa-8136	1	24	2015	2015	NUM
ajfa-8136	1	25	,	,	PUNCT
ajfa-8136	1	26	vol	vol	NOUN
ajfa-8136	1	27	.	.	PROPN
ajfa-8136	1	28	7	7	NUM
ajfa-8136	1	29	,	,	PUNCT
ajfa-8136	1	30	no	no	INTJ
ajfa-8136	1	31	.	.	NOUN
ajfa-8136	1	32	2	2	NUM
ajfa-8136	1	33	35	35	NUM
ajfa-8136	1	34	closer	close	ADJ
ajfa-8136	1	35	view	view	NOUN
ajfa-8136	1	36	at	at	ADP
ajfa-8136	1	37	the	the	DET
ajfa-8136	1	38	stock	stock	NOUN
ajfa-8136	1	39	market	market	NOUN
ajfa-8136	1	40	liquidity	liquidity	NOUN
ajfa-8136	1	41	:	:	PUNCT
ajfa-8136	1	42	a	a	DET
ajfa-8136	1	43	literature	literature	NOUN
ajfa-8136	1	44	review	review	NOUN
ajfa-8136	1	45	gaurav	gaurav	PROPN
ajfa-8136	1	46	kumar1	kumar1	PROPN
ajfa-8136	1	47	phd	phd	PROPN
ajfa-8136	1	48	research	research	NOUN
ajfa-8136	1	49	scholar	scholar	NOUN
ajfa-8136	1	50	,	,	PUNCT
ajfa-8136	1	51	finance	finance	NOUN
ajfa-8136	1	52	and	and	CCONJ
ajfa-8136	1	53	accounting	accounting	PROPN
ajfa-8136	1	54	indian	indian	PROPN
ajfa-8136	1	55	institute	institute	PROPN
ajfa-8136	1	56	of	of	ADP
ajfa-8136	1	57	technology	technology	PROPN
ajfa-8136	1	58	(	(	PUNCT
ajfa-8136	1	59	iit	iit	PROPN
ajfa-8136	1	60	)	)	PUNCT
ajfa-8136	1	61	,	,	PUNCT
ajfa-8136	1	62	kharagpur	kharagpur	PROPN
ajfa-8136	1	63	,	,	PUNCT
ajfa-8136	1	64	india	india	PROPN
ajfa-8136	1	65	e	e	PROPN
ajfa-8136	1	66	-	-	NOUN
ajfa-8136	1	67	mail	mail	NOUN
ajfa-8136	1	68	:	:	PUNCT
ajfa-8136	1	69	gauravkumar@iitkgp.ac.in	gauravkumar@iitkgp.ac.in	ADP
ajfa-8136	1	70	arun	arun	PROPN
ajfa-8136	1	71	kumar	kumar	PROPN
ajfa-8136	1	72	misra	misra	PROPN
ajfa-8136	1	73	associate	associate	NOUN
ajfa-8136	1	74	professor	professor	NOUN
ajfa-8136	1	75	,	,	PUNCT
ajfa-8136	1	76	finance	finance	NOUN
ajfa-8136	1	77	and	and	CCONJ
ajfa-8136	1	78	accounting	accounting	PROPN
ajfa-8136	1	79	indian	indian	PROPN
ajfa-8136	1	80	institute	institute	PROPN
ajfa-8136	1	81	of	of	ADP
ajfa-8136	1	82	technology	technology	PROPN
ajfa-8136	1	83	(	(	PUNCT
ajfa-8136	1	84	iit	iit	PROPN
ajfa-8136	1	85	)	)	PUNCT
ajfa-8136	1	86	,	,	PUNCT
ajfa-8136	1	87	kharagpur	kharagpur	PROPN
ajfa-8136	1	88	,	,	PUNCT
ajfa-8136	1	89	india	india	PROPN
ajfa-8136	1	90	e	e	PROPN
ajfa-8136	1	91	-	-	NOUN
ajfa-8136	1	92	mail	mail	NOUN
ajfa-8136	1	93	:	:	PUNCT
ajfa-8136	1	94	arunmisra@vgsom.iitkgp.ernet.in	arunmisra@vgsom.iitkgp.ernet.in	PROPN
ajfa-8136	1	95	received	receive	VERB
ajfa-8136	1	96	:	:	PUNCT
ajfa-8136	1	97	august	august	PROPN
ajfa-8136	1	98	8	8	NUM
ajfa-8136	1	99	,	,	PUNCT
ajfa-8136	1	100	2015	2015	NUM
ajfa-8136	1	101	accepted	accept	VERB
ajfa-8136	1	102	:	:	PUNCT
ajfa-8136	2	1	sep	sep	INTJ
ajfa-8136	2	2	.	.	PROPN
ajfa-8136	2	3	1	1	NUM
ajfa-8136	2	4	,	,	PUNCT
ajfa-8136	2	5	2015	2015	NUM
ajfa-8136	2	6	published	publish	VERB
ajfa-8136	2	7	:	:	PUNCT
ajfa-8136	2	8	december	december	PROPN
ajfa-8136	2	9	1	1	NUM
ajfa-8136	2	10	,	,	PUNCT
ajfa-8136	2	11	2015	2015	NUM
ajfa-8136	2	12	doi:10.5296	doi:10.5296	NOUN
ajfa-8136	2	13	/	/	SYM
ajfa-8136	2	14	ajfa.v7i2.8136	ajfa.v7i2.8136	NUM
ajfa-8136	2	15	url	url	PROPN
ajfa-8136	2	16	:	:	PUNCT
ajfa-8136	2	17	http://dx.doi.org/10.5296/ajfa.v7i2.8136	http://dx.doi.org/10.5296/ajfa.v7i2.8136	PUNCT
ajfa-8136	2	18	abstract	abstract	ADJ
ajfa-8136	2	19	liquidity	liquidity	NOUN
ajfa-8136	2	20	is	be	AUX
ajfa-8136	2	21	said	say	VERB
ajfa-8136	2	22	to	to	PART
ajfa-8136	2	23	be	be	AUX
ajfa-8136	2	24	the	the	DET
ajfa-8136	2	25	lifeblood	lifeblood	NOUN
ajfa-8136	2	26	of	of	ADP
ajfa-8136	2	27	stock	stock	NOUN
ajfa-8136	2	28	markets	market	NOUN
ajfa-8136	2	29	.	.	PUNCT
ajfa-8136	3	1	it	it	PRON
ajfa-8136	3	2	has	have	VERB
ajfa-8136	3	3	prominent	prominent	ADJ
ajfa-8136	3	4	implications	implication	NOUN
ajfa-8136	3	5	for	for	ADP
ajfa-8136	3	6	traders	trader	NOUN
ajfa-8136	3	7	,	,	PUNCT
ajfa-8136	3	8	regulators	regulator	NOUN
ajfa-8136	3	9	,	,	PUNCT
ajfa-8136	3	10	stock	stock	NOUN
ajfa-8136	3	11	exchanges	exchange	NOUN
ajfa-8136	3	12	and	and	CCONJ
ajfa-8136	3	13	the	the	DET
ajfa-8136	3	14	listed	list	VERB
ajfa-8136	3	15	firms	firm	NOUN
ajfa-8136	3	16	.	.	PUNCT
ajfa-8136	4	1	in	in	ADP
ajfa-8136	4	2	recent	recent	ADJ
ajfa-8136	4	3	years	year	NOUN
ajfa-8136	4	4	a	a	DET
ajfa-8136	4	5	huge	huge	ADJ
ajfa-8136	4	6	amount	amount	NOUN
ajfa-8136	4	7	of	of	ADP
ajfa-8136	4	8	literature	literature	NOUN
ajfa-8136	4	9	has	have	AUX
ajfa-8136	4	10	emerged	emerge	VERB
ajfa-8136	4	11	that	that	SCONJ
ajfa-8136	4	12	deals	deal	NOUN
ajfa-8136	4	13	with	with	ADP
ajfa-8136	4	14	liquidity	liquidity	NOUN
ajfa-8136	4	15	.	.	PUNCT
ajfa-8136	5	1	this	this	DET
ajfa-8136	5	2	article	article	NOUN
ajfa-8136	5	3	classifies	classify	VERB
ajfa-8136	5	4	and	and	CCONJ
ajfa-8136	5	5	organises	organise	VERB
ajfa-8136	5	6	the	the	DET
ajfa-8136	5	7	literature	literature	NOUN
ajfa-8136	5	8	and	and	CCONJ
ajfa-8136	5	9	provides	provide	VERB
ajfa-8136	5	10	a	a	DET
ajfa-8136	5	11	critical	critical	ADJ
ajfa-8136	5	12	review	review	NOUN
ajfa-8136	5	13	of	of	ADP
ajfa-8136	5	14	the	the	DET
ajfa-8136	5	15	frameworks	framework	NOUN
ajfa-8136	5	16	currently	currently	ADV
ajfa-8136	5	17	available	available	ADJ
ajfa-8136	5	18	for	for	ADP
ajfa-8136	5	19	modelling	model	VERB
ajfa-8136	5	20	liquidity	liquidity	NOUN
ajfa-8136	5	21	and	and	CCONJ
ajfa-8136	5	22	its	its	PRON
ajfa-8136	5	23	macroeconomic	macroeconomic	ADJ
ajfa-8136	5	24	and	and	CCONJ
ajfa-8136	5	25	firm	firm	ADJ
ajfa-8136	5	26	specific	specific	ADJ
ajfa-8136	5	27	drivers	driver	NOUN
ajfa-8136	5	28	.	.	PUNCT
ajfa-8136	6	1	commonality	commonality	NOUN
ajfa-8136	6	2	and	and	CCONJ
ajfa-8136	6	3	intraday	intraday	NOUN
ajfa-8136	6	4	behaviour	behaviour	NOUN
ajfa-8136	6	5	of	of	ADP
ajfa-8136	6	6	liquidity	liquidity	NOUN
ajfa-8136	6	7	in	in	ADP
ajfa-8136	6	8	various	various	ADJ
ajfa-8136	6	9	markets	market	NOUN
ajfa-8136	6	10	is	be	AUX
ajfa-8136	6	11	discussed	discuss	VERB
ajfa-8136	6	12	under	under	ADP
ajfa-8136	6	13	the	the	DET
ajfa-8136	6	14	umbrella	umbrella	NOUN
ajfa-8136	6	15	of	of	ADP
ajfa-8136	6	16	market	market	NOUN
ajfa-8136	6	17	microstructures	microstructure	NOUN
ajfa-8136	6	18	.	.	PUNCT
ajfa-8136	7	1	subsequently	subsequently	ADV
ajfa-8136	7	2	,	,	PUNCT
ajfa-8136	7	3	liquidity	liquidity	NOUN
ajfa-8136	7	4	risk	risk	NOUN
ajfa-8136	7	5	as	as	ADP
ajfa-8136	7	6	a	a	DET
ajfa-8136	7	7	factor	factor	NOUN
ajfa-8136	7	8	in	in	ADP
ajfa-8136	7	9	asset	asset	NOUN
ajfa-8136	7	10	pricing	pricing	NOUN
ajfa-8136	7	11	is	be	AUX
ajfa-8136	7	12	analysed	analyse	VERB
ajfa-8136	7	13	taking	take	VERB
ajfa-8136	7	14	various	various	ADJ
ajfa-8136	7	15	models	model	NOUN
ajfa-8136	7	16	in	in	ADP
ajfa-8136	7	17	to	to	ADP
ajfa-8136	7	18	consideration	consideration	NOUN
ajfa-8136	7	19	.	.	PUNCT
ajfa-8136	8	1	finally	finally	ADV
ajfa-8136	8	2	,	,	PUNCT
ajfa-8136	8	3	the	the	DET
ajfa-8136	8	4	study	study	NOUN
ajfa-8136	8	5	reviewed	review	VERB
ajfa-8136	8	6	the	the	DET
ajfa-8136	8	7	impact	impact	NOUN
ajfa-8136	8	8	of	of	ADP
ajfa-8136	8	9	liquidity	liquidity	NOUN
ajfa-8136	8	10	on	on	ADP
ajfa-8136	8	11	corporate	corporate	ADJ
ajfa-8136	8	12	finance	finance	NOUN
ajfa-8136	8	13	decisions	decision	NOUN
ajfa-8136	8	14	viz	viz	PROPN
ajfa-8136	8	15	.	.	PUNCT
ajfa-8136	9	1	dividends	dividend	NOUN
ajfa-8136	9	2	,	,	PUNCT
ajfa-8136	9	3	firm	firm	ADJ
ajfa-8136	9	4	valuation	valuation	NOUN
ajfa-8136	9	5	,	,	PUNCT
ajfa-8136	9	6	stock	stock	NOUN
ajfa-8136	9	7	split	split	NOUN
ajfa-8136	9	8	,	,	PUNCT
ajfa-8136	9	9	capital	capital	NOUN
ajfa-8136	9	10	structure	structure	NOUN
ajfa-8136	9	11	etc	etc	X
ajfa-8136	9	12	.	.	X
ajfa-8136	9	13	key	key	ADJ
ajfa-8136	9	14	words	word	NOUN
ajfa-8136	9	15	:	:	PUNCT
ajfa-8136	9	16	liquidity	liquidity	NOUN
ajfa-8136	9	17	,	,	PUNCT
ajfa-8136	9	18	determinants	determinant	NOUN
ajfa-8136	9	19	,	,	PUNCT
ajfa-8136	9	20	commonality	commonality	NOUN
ajfa-8136	9	21	,	,	PUNCT
ajfa-8136	9	22	asset	asset	NOUN
ajfa-8136	9	23	pricing	pricing	NOUN
ajfa-8136	9	24	,	,	PUNCT
ajfa-8136	9	25	corporate	corporate	ADJ
ajfa-8136	9	26	finance	finance	NOUN
ajfa-8136	9	27	1corresponding	1corresponding	PROPN
ajfa-8136	9	28	author	author	NOUN
ajfa-8136	9	29	asian	asian	ADJ
ajfa-8136	9	30	journal	journal	PROPN
ajfa-8136	9	31	of	of	ADP
ajfa-8136	9	32	finance	finance	PROPN
ajfa-8136	9	33	&	&	CCONJ
ajfa-8136	9	34	accounting	accounting	PROPN
ajfa-8136	9	35	issn	issn	PROPN
ajfa-8136	9	36	1946	1946	NUM
ajfa-8136	9	37	-	-	PUNCT
ajfa-8136	9	38	052x	052x	NOUN
ajfa-8136	9	39	2015	2015	NUM
ajfa-8136	9	40	,	,	PUNCT
ajfa-8136	9	41	vol	vol	NOUN
ajfa-8136	9	42	.	.	PROPN
ajfa-8136	9	43	7	7	NUM
ajfa-8136	9	44	,	,	PUNCT
ajfa-8136	9	45	no	no	INTJ
ajfa-8136	9	46	.	.	NOUN
ajfa-8136	9	47	2	2	NUM
ajfa-8136	9	48	36	36	NUM
ajfa-8136	9	49	1	1	NUM
ajfa-8136	9	50	.	.	PUNCT
ajfa-8136	9	51	introduction	introduction	NOUN
ajfa-8136	9	52	the	the	DET
ajfa-8136	9	53	ability	ability	NOUN
ajfa-8136	9	54	to	to	PART
ajfa-8136	9	55	trade	trade	VERB
ajfa-8136	9	56	large	large	ADJ
ajfa-8136	9	57	volume	volume	NOUN
ajfa-8136	9	58	of	of	ADP
ajfa-8136	9	59	stocks	stock	NOUN
ajfa-8136	9	60	with	with	ADP
ajfa-8136	9	61	least	least	ADJ
ajfa-8136	9	62	price	price	NOUN
ajfa-8136	9	63	impact	impact	NOUN
ajfa-8136	9	64	,	,	PUNCT
ajfa-8136	9	65	cost	cost	NOUN
ajfa-8136	9	66	and	and	CCONJ
ajfa-8136	9	67	postponement	postponement	NOUN
ajfa-8136	9	68	is	be	AUX
ajfa-8136	9	69	termed	term	VERB
ajfa-8136	9	70	as	as	ADP
ajfa-8136	9	71	liquidity	liquidity	NOUN
ajfa-8136	9	72	.	.	PUNCT
ajfa-8136	10	1	as	as	ADP
ajfa-8136	10	2	per	per	ADP
ajfa-8136	10	3	o’hara	o’hara	NOUN
ajfa-8136	10	4	(	(	PUNCT
ajfa-8136	10	5	2004	2004	NUM
ajfa-8136	10	6	)	)	PUNCT
ajfa-8136	10	7	,	,	PUNCT
ajfa-8136	10	8	“	"	PUNCT
ajfa-8136	10	9	liquidity	liquidity	NOUN
ajfa-8136	10	10	is	be	AUX
ajfa-8136	10	11	hard	hard	ADJ
ajfa-8136	10	12	to	to	PART
ajfa-8136	10	13	define	define	VERB
ajfa-8136	10	14	,	,	PUNCT
ajfa-8136	10	15	but	but	CCONJ
ajfa-8136	10	16	easy	easy	ADJ
ajfa-8136	10	17	to	to	PART
ajfa-8136	10	18	feel	feel	VERB
ajfa-8136	10	19	it	it	PRON
ajfa-8136	10	20	”	"	PUNCT
ajfa-8136	10	21	.	.	PUNCT
ajfa-8136	11	1	liquidity	liquidity	NOUN
ajfa-8136	11	2	has	have	VERB
ajfa-8136	11	3	multi	multi	ADJ
ajfa-8136	11	4	-	-	ADJ
ajfa-8136	11	5	dimensional	dimensional	ADJ
ajfa-8136	11	6	characteristicsviz	characteristicsviz	NOUN
ajfa-8136	11	7	.	.	PUNCT
ajfa-8136	12	1	tightness	tightness	NOUN
ajfa-8136	12	2	,	,	PUNCT
ajfa-8136	12	3	immediacy	immediacy	NOUN
ajfa-8136	12	4	,	,	PUNCT
ajfa-8136	12	5	depth	depth	NOUN
ajfa-8136	12	6	,	,	PUNCT
ajfa-8136	12	7	breadth	breadth	NOUN
ajfa-8136	12	8	,	,	PUNCT
ajfa-8136	12	9	and	and	CCONJ
ajfa-8136	12	10	resiliency	resiliency	NOUN
ajfa-8136	12	11	.	.	PUNCT
ajfa-8136	13	1	all	all	PRON
ajfa-8136	13	2	of	of	ADP
ajfa-8136	13	3	these	these	DET
ajfa-8136	13	4	characteristics	characteristic	NOUN
ajfa-8136	13	5	can	can	AUX
ajfa-8136	13	6	not	not	PART
ajfa-8136	13	7	be	be	AUX
ajfa-8136	13	8	captured	capture	VERB
ajfa-8136	13	9	in	in	ADP
ajfa-8136	13	10	a	a	DET
ajfa-8136	13	11	single	single	ADJ
ajfa-8136	13	12	measure	measure	NOUN
ajfa-8136	13	13	.	.	PUNCT
ajfa-8136	14	1	thus	thus	ADV
ajfa-8136	14	2	,	,	PUNCT
ajfa-8136	14	3	a	a	DET
ajfa-8136	14	4	globally	globally	ADV
ajfa-8136	14	5	acceptable	acceptable	ADJ
ajfa-8136	14	6	measure	measure	NOUN
ajfa-8136	14	7	of	of	ADP
ajfa-8136	14	8	liquidity	liquidity	NOUN
ajfa-8136	14	9	which	which	PRON
ajfa-8136	14	10	represents	represent	VERB
ajfa-8136	14	11	most	most	ADJ
ajfa-8136	14	12	of	of	ADP
ajfa-8136	14	13	these	these	DET
ajfa-8136	14	14	characteristics	characteristic	NOUN
ajfa-8136	14	15	continues	continue	VERB
ajfa-8136	14	16	to	to	PART
ajfa-8136	14	17	be	be	AUX
ajfa-8136	14	18	an	an	DET
ajfa-8136	14	19	area	area	NOUN
ajfa-8136	14	20	of	of	ADP
ajfa-8136	14	21	research	research	NOUN
ajfa-8136	14	22	.	.	PUNCT
ajfa-8136	15	1	higher	high	ADJ
ajfa-8136	15	2	level	level	NOUN
ajfa-8136	15	3	of	of	ADP
ajfa-8136	15	4	illiquidity	illiquidity	NOUN
ajfa-8136	15	5	poses	pose	VERB
ajfa-8136	15	6	the	the	DET
ajfa-8136	15	7	risk	risk	NOUN
ajfa-8136	15	8	of	of	ADP
ajfa-8136	15	9	higher	high	ADJ
ajfa-8136	15	10	losses	loss	NOUN
ajfa-8136	15	11	for	for	ADP
ajfa-8136	15	12	the	the	DET
ajfa-8136	15	13	investors	investor	NOUN
ajfa-8136	15	14	along	along	ADP
ajfa-8136	15	15	with	with	ADP
ajfa-8136	15	16	higher	high	ADJ
ajfa-8136	15	17	gains	gain	NOUN
ajfa-8136	15	18	in	in	ADP
ajfa-8136	15	19	comparison	comparison	NOUN
ajfa-8136	15	20	to	to	ADP
ajfa-8136	15	21	the	the	DET
ajfa-8136	15	22	liquid	liquid	ADJ
ajfa-8136	15	23	markets	market	NOUN
ajfa-8136	15	24	because	because	SCONJ
ajfa-8136	15	25	of	of	ADP
ajfa-8136	15	26	the	the	DET
ajfa-8136	15	27	price	price	NOUN
ajfa-8136	15	28	volatility	volatility	NOUN
ajfa-8136	15	29	.	.	PUNCT
ajfa-8136	16	1	in	in	ADP
ajfa-8136	16	2	illiquid	illiquid	ADJ
ajfa-8136	16	3	markets	market	NOUN
ajfa-8136	16	4	,	,	PUNCT
ajfa-8136	16	5	an	an	DET
ajfa-8136	16	6	investor	investor	NOUN
ajfa-8136	16	7	is	be	AUX
ajfa-8136	16	8	uncertain	uncertain	ADJ
ajfa-8136	16	9	about	about	ADP
ajfa-8136	16	10	executing	execute	VERB
ajfa-8136	16	11	a	a	DET
ajfa-8136	16	12	large	large	ADJ
ajfa-8136	16	13	transaction	transaction	NOUN
ajfa-8136	16	14	as	as	SCONJ
ajfa-8136	16	15	it	it	PRON
ajfa-8136	16	16	may	may	AUX
ajfa-8136	16	17	cause	cause	VERB
ajfa-8136	16	18	significant	significant	ADJ
ajfa-8136	16	19	price	price	NOUN
ajfa-8136	16	20	change	change	NOUN
ajfa-8136	16	21	resulting	result	VERB
ajfa-8136	16	22	higher	high	ADJ
ajfa-8136	16	23	losses	loss	NOUN
ajfa-8136	16	24	.	.	PUNCT
ajfa-8136	17	1	therefore	therefore	ADV
ajfa-8136	17	2	,	,	PUNCT
ajfa-8136	17	3	the	the	DET
ajfa-8136	17	4	stock	stock	NOUN
ajfa-8136	17	5	market	market	NOUN
ajfa-8136	17	6	development	development	NOUN
ajfa-8136	17	7	is	be	AUX
ajfa-8136	17	8	impeded	impede	VERB
ajfa-8136	17	9	as	as	ADP
ajfa-8136	17	10	higher	high	ADJ
ajfa-8136	17	11	illiquidity	illiquidity	NOUN
ajfa-8136	17	12	lower	low	ADJ
ajfa-8136	17	13	down	down	ADP
ajfa-8136	17	14	the	the	DET
ajfa-8136	17	15	capital	capital	NOUN
ajfa-8136	17	16	inflows	inflow	NOUN
ajfa-8136	17	17	.	.	PUNCT
ajfa-8136	18	1	also	also	ADV
ajfa-8136	18	2	,	,	PUNCT
ajfa-8136	18	3	the	the	DET
ajfa-8136	18	4	firms	firm	NOUN
ajfa-8136	18	5	can	can	AUX
ajfa-8136	18	6	reduce	reduce	VERB
ajfa-8136	18	7	cost	cost	NOUN
ajfa-8136	18	8	of	of	ADP
ajfa-8136	18	9	capital	capital	NOUN
ajfa-8136	18	10	by	by	ADP
ajfa-8136	18	11	increasing	increase	VERB
ajfa-8136	18	12	the	the	DET
ajfa-8136	18	13	liquidity	liquidity	NOUN
ajfa-8136	18	14	of	of	ADP
ajfa-8136	18	15	their	their	PRON
ajfa-8136	18	16	respective	respective	ADJ
ajfa-8136	18	17	stocks	stock	NOUN
ajfa-8136	18	18	.	.	PUNCT
ajfa-8136	19	1	fund	fund	NOUN
ajfa-8136	19	2	managers	manager	NOUN
ajfa-8136	19	3	can	can	AUX
ajfa-8136	19	4	design	design	VERB
ajfa-8136	19	5	improve	improve	VERB
ajfa-8136	19	6	trading	trading	NOUN
ajfa-8136	19	7	strategies	strategy	NOUN
ajfa-8136	19	8	if	if	SCONJ
ajfa-8136	19	9	they	they	PRON
ajfa-8136	19	10	a	a	DET
ajfa-8136	19	11	better	well	ADJ
ajfa-8136	19	12	understanding	understanding	NOUN
ajfa-8136	19	13	of	of	ADP
ajfa-8136	19	14	the	the	DET
ajfa-8136	19	15	liquidity	liquidity	NOUN
ajfa-8136	19	16	dynamics	dynamic	NOUN
ajfa-8136	19	17	.	.	PUNCT
ajfa-8136	20	1	common	common	ADJ
ajfa-8136	20	2	determinants	determinant	NOUN
ajfa-8136	20	3	or	or	CCONJ
ajfa-8136	20	4	the	the	DET
ajfa-8136	20	5	concept	concept	NOUN
ajfa-8136	20	6	of	of	ADP
ajfa-8136	20	7	commonality	commonality	NOUN
ajfa-8136	20	8	is	be	AUX
ajfa-8136	20	9	a	a	DET
ajfa-8136	20	10	phenomenon	phenomenon	NOUN
ajfa-8136	20	11	in	in	ADP
ajfa-8136	20	12	which	which	PRON
ajfa-8136	20	13	individual	individual	ADJ
ajfa-8136	20	14	stock	stock	NOUN
ajfa-8136	20	15	liquidity	liquidity	NOUN
ajfa-8136	20	16	is	be	AUX
ajfa-8136	20	17	at	at	ADV
ajfa-8136	20	18	least	least	ADJ
ajfa-8136	20	19	partly	partly	ADV
ajfa-8136	20	20	determined	determine	VERB
ajfa-8136	20	21	by	by	ADP
ajfa-8136	20	22	marketwide	marketwide	NOUN
ajfa-8136	20	23	factors	factor	NOUN
ajfa-8136	20	24	(	(	PUNCT
ajfa-8136	20	25	chordia	chordia	NOUN
ajfa-8136	20	26	et	et	NOUN
ajfa-8136	20	27	al	al	PROPN
ajfa-8136	20	28	.	.	PROPN
ajfa-8136	20	29	,	,	PUNCT
ajfa-8136	20	30	2003	2003	NUM
ajfa-8136	20	31	)	)	PUNCT
ajfa-8136	20	32	.	.	PUNCT
ajfa-8136	21	1	high	high	ADJ
ajfa-8136	21	2	degree	degree	NOUN
ajfa-8136	21	3	of	of	ADP
ajfa-8136	21	4	commonality	commonality	NOUN
ajfa-8136	21	5	indicates	indicate	VERB
ajfa-8136	21	6	high	high	ADJ
ajfa-8136	21	7	degree	degree	NOUN
ajfa-8136	21	8	of	of	ADP
ajfa-8136	21	9	systematic	systematic	ADJ
ajfa-8136	21	10	risk	risk	NOUN
ajfa-8136	21	11	resulting	result	VERB
ajfa-8136	21	12	in	in	ADP
ajfa-8136	21	13	to	to	ADP
ajfa-8136	21	14	higher	high	ADJ
ajfa-8136	21	15	liquidity	liquidity	NOUN
ajfa-8136	21	16	premium	premium	NOUN
ajfa-8136	21	17	for	for	ADP
ajfa-8136	21	18	holding	hold	VERB
ajfa-8136	21	19	such	such	ADJ
ajfa-8136	21	20	assets	asset	NOUN
ajfa-8136	21	21	(	(	PUNCT
ajfa-8136	21	22	fujimoto	fujimoto	PROPN
ajfa-8136	21	23	,	,	PUNCT
ajfa-8136	21	24	2003	2003	NUM
ajfa-8136	21	25	)	)	PUNCT
ajfa-8136	21	26	.	.	PUNCT
ajfa-8136	22	1	designing	design	VERB
ajfa-8136	22	2	of	of	ADP
ajfa-8136	22	3	diversified	diversified	ADJ
ajfa-8136	22	4	portfolios	portfolio	NOUN
ajfa-8136	22	5	becomes	become	VERB
ajfa-8136	22	6	difficult	difficult	ADJ
ajfa-8136	22	7	because	because	SCONJ
ajfa-8136	22	8	of	of	ADP
ajfa-8136	22	9	presence	presence	NOUN
ajfa-8136	22	10	of	of	ADP
ajfa-8136	22	11	commonality	commonality	NOUN
ajfa-8136	22	12	in	in	ADP
ajfa-8136	22	13	liquidity	liquidity	NOUN
ajfa-8136	22	14	(	(	PUNCT
ajfa-8136	22	15	domowitz	domowitz	NOUN
ajfa-8136	22	16	and	and	CCONJ
ajfa-8136	22	17	wang	wang	PROPN
ajfa-8136	22	18	,	,	PUNCT
ajfa-8136	22	19	2002	2002	NUM
ajfa-8136	22	20	)	)	PUNCT
ajfa-8136	22	21	.	.	PUNCT
ajfa-8136	23	1	regulators	regulator	NOUN
ajfa-8136	23	2	can	can	AUX
ajfa-8136	23	3	improve	improve	VERB
ajfa-8136	23	4	market	market	NOUN
ajfa-8136	23	5	liquidity	liquidity	NOUN
ajfa-8136	23	6	by	by	ADP
ajfa-8136	23	7	changing	change	VERB
ajfa-8136	23	8	the	the	DET
ajfa-8136	23	9	market	market	NOUN
ajfa-8136	23	10	designs	design	NOUN
ajfa-8136	23	11	.	.	PUNCT
ajfa-8136	24	1	this	this	PRON
ajfa-8136	24	2	can	can	AUX
ajfa-8136	24	3	be	be	AUX
ajfa-8136	24	4	achieved	achieve	VERB
ajfa-8136	24	5	by	by	ADP
ajfa-8136	24	6	empirically	empirically	ADV
ajfa-8136	24	7	understanding	understand	VERB
ajfa-8136	24	8	common	common	ADJ
ajfa-8136	24	9	liquidity	liquidity	NOUN
ajfa-8136	24	10	movements	movement	NOUN
ajfa-8136	24	11	(	(	PUNCT
ajfa-8136	24	12	coughenour	coughenour	ADJ
ajfa-8136	24	13	and	and	CCONJ
ajfa-8136	24	14	saad	saad	NOUN
ajfa-8136	24	15	,	,	PUNCT
ajfa-8136	24	16	2004	2004	NUM
ajfa-8136	24	17	)	)	PUNCT
ajfa-8136	24	18	.	.	PUNCT
ajfa-8136	25	1	with	with	ADP
ajfa-8136	25	2	the	the	DET
ajfa-8136	25	3	above	above	ADJ
ajfa-8136	25	4	brief	brief	ADJ
ajfa-8136	25	5	introduction	introduction	NOUN
ajfa-8136	25	6	about	about	ADP
ajfa-8136	25	7	liquidity	liquidity	NOUN
ajfa-8136	25	8	importance	importance	NOUN
ajfa-8136	25	9	in	in	ADP
ajfa-8136	25	10	field	field	NOUN
ajfa-8136	25	11	of	of	ADP
ajfa-8136	25	12	financial	financial	ADJ
ajfa-8136	25	13	economics	economic	NOUN
ajfa-8136	25	14	,	,	PUNCT
ajfa-8136	25	15	the	the	DET
ajfa-8136	25	16	study	study	NOUN
ajfa-8136	25	17	has	have	AUX
ajfa-8136	25	18	initiated	initiate	VERB
ajfa-8136	25	19	extensive	extensive	ADJ
ajfa-8136	25	20	review	review	NOUN
ajfa-8136	25	21	of	of	ADP
ajfa-8136	25	22	literature	literature	NOUN
ajfa-8136	25	23	with	with	ADP
ajfa-8136	25	24	primary	primary	ADJ
ajfa-8136	25	25	focus	focus	NOUN
ajfa-8136	25	26	on	on	ADP
ajfa-8136	25	27	the	the	DET
ajfa-8136	25	28	concept	concept	NOUN
ajfa-8136	25	29	liquidity	liquidity	NOUN
ajfa-8136	25	30	measurement	measurement	NOUN
ajfa-8136	25	31	,	,	PUNCT
ajfa-8136	25	32	intraday	intraday	NOUN
ajfa-8136	25	33	behaviour	behaviour	NOUN
ajfa-8136	25	34	,	,	PUNCT
ajfa-8136	25	35	determinants	determinant	NOUN
ajfa-8136	25	36	,	,	PUNCT
ajfa-8136	25	37	commonality	commonality	NOUN
ajfa-8136	25	38	and	and	CCONJ
ajfa-8136	25	39	its	its	PRON
ajfa-8136	25	40	implications	implication	NOUN
ajfa-8136	25	41	on	on	ADP
ajfa-8136	25	42	asset	asset	NOUN
ajfa-8136	25	43	pricing	pricing	NOUN
ajfa-8136	25	44	and	and	CCONJ
ajfa-8136	25	45	corporate	corporate	ADJ
ajfa-8136	25	46	finance	finance	NOUN
ajfa-8136	25	47	.	.	PUNCT
ajfa-8136	26	1	2	2	X
ajfa-8136	26	2	.	.	X
ajfa-8136	26	3	liquidity	liquidity	NOUN
ajfa-8136	26	4	proxies	proxy	NOUN
ajfa-8136	26	5	and	and	CCONJ
ajfa-8136	26	6	characteristics	characteristic	NOUN
ajfa-8136	26	7	as	as	ADP
ajfa-8136	26	8	per	per	ADP
ajfa-8136	26	9	keynes	keynes	X
ajfa-8136	26	10	(	(	PUNCT
ajfa-8136	26	11	1930	1930	NUM
ajfa-8136	26	12	)	)	PUNCT
ajfa-8136	26	13	,	,	PUNCT
ajfa-8136	26	14	an	an	DET
ajfa-8136	26	15	asset	asset	NOUN
ajfa-8136	26	16	is	be	AUX
ajfa-8136	26	17	more	more	ADV
ajfa-8136	26	18	liquid	liquid	ADJ
ajfa-8136	26	19	if	if	SCONJ
ajfa-8136	26	20	it	it	PRON
ajfa-8136	26	21	is	be	AUX
ajfa-8136	26	22	immediately	immediately	ADV
ajfa-8136	26	23	realized	realize	VERB
ajfa-8136	26	24	without	without	ADP
ajfa-8136	26	25	loss	loss	NOUN
ajfa-8136	26	26	.	.	PUNCT
ajfa-8136	27	1	an	an	DET
ajfa-8136	27	2	investor	investor	NOUN
ajfa-8136	27	3	may	may	AUX
ajfa-8136	27	4	either	either	CCONJ
ajfa-8136	27	5	insist	insist	VERB
ajfa-8136	27	6	on	on	ADP
ajfa-8136	27	7	immediate	immediate	ADJ
ajfa-8136	27	8	execution	execution	NOUN
ajfa-8136	27	9	at	at	ADP
ajfa-8136	27	10	the	the	DET
ajfa-8136	27	11	current	current	ADJ
ajfa-8136	27	12	bid	bid	NOUN
ajfa-8136	27	13	or	or	CCONJ
ajfa-8136	27	14	ask	ask	VERB
ajfa-8136	27	15	price	price	NOUN
ajfa-8136	27	16	or	or	CCONJ
ajfa-8136	27	17	wait	wait	VERB
ajfa-8136	27	18	to	to	PART
ajfa-8136	27	19	transact	transact	VERB
ajfa-8136	27	20	at	at	ADP
ajfa-8136	27	21	a	a	DET
ajfa-8136	27	22	favorable	favorable	ADJ
ajfa-8136	27	23	price	price	NOUN
ajfa-8136	27	24	.	.	PUNCT
ajfa-8136	28	1	the	the	DET
ajfa-8136	28	2	quoted	quote	VERB
ajfa-8136	28	3	ask	ask	NOUN
ajfa-8136	28	4	(	(	PUNCT
ajfa-8136	28	5	offer	offer	NOUN
ajfa-8136	28	6	)	)	PUNCT
ajfa-8136	28	7	price	price	NOUN
ajfa-8136	28	8	includes	include	VERB
ajfa-8136	28	9	a	a	DET
ajfa-8136	28	10	premium	premium	NOUN
ajfa-8136	28	11	for	for	ADP
ajfa-8136	28	12	immediate	immediate	ADJ
ajfa-8136	28	13	buying	buying	NOUN
ajfa-8136	28	14	,	,	PUNCT
ajfa-8136	28	15	and	and	CCONJ
ajfa-8136	28	16	the	the	DET
ajfa-8136	28	17	bid	bid	NOUN
ajfa-8136	28	18	price	price	NOUN
ajfa-8136	28	19	similarly	similarly	ADV
ajfa-8136	28	20	reflects	reflect	VERB
ajfa-8136	28	21	a	a	DET
ajfa-8136	28	22	concession	concession	NOUN
ajfa-8136	28	23	required	require	VERB
ajfa-8136	28	24	for	for	ADP
ajfa-8136	28	25	immediate	immediate	ADJ
ajfa-8136	28	26	sale	sale	NOUN
ajfa-8136	28	27	.	.	PUNCT
ajfa-8136	29	1	thus	thus	ADV
ajfa-8136	29	2	,	,	PUNCT
ajfa-8136	29	3	the	the	DET
ajfa-8136	29	4	spread	spread	NOUN
ajfa-8136	29	5	between	between	ADP
ajfa-8136	29	6	the	the	DET
ajfa-8136	29	7	bid	bid	NOUN
ajfa-8136	29	8	and	and	CCONJ
ajfa-8136	29	9	ask	ask	VERB
ajfa-8136	29	10	prices	price	NOUN
ajfa-8136	29	11	is	be	AUX
ajfa-8136	29	12	a	a	DET
ajfa-8136	29	13	measure	measure	NOUN
ajfa-8136	29	14	of	of	ADP
ajfa-8136	29	15	illiquidity	illiquidity	NOUN
ajfa-8136	29	16	,	,	PUNCT
ajfa-8136	29	17	which	which	PRON
ajfa-8136	29	18	is	be	AUX
ajfa-8136	29	19	the	the	DET
ajfa-8136	29	20	sum	sum	NOUN
ajfa-8136	29	21	of	of	ADP
ajfa-8136	29	22	the	the	DET
ajfa-8136	29	23	buying	buying	NOUN
ajfa-8136	29	24	premium	premium	NOUN
ajfa-8136	29	25	and	and	CCONJ
ajfa-8136	29	26	the	the	DET
ajfa-8136	29	27	selling	selling	NOUN
ajfa-8136	29	28	concession	concession	NOUN
ajfa-8136	29	29	.	.	PUNCT
ajfa-8136	30	1	baker	baker	PROPN
ajfa-8136	30	2	(	(	PUNCT
ajfa-8136	30	3	1996	1996	NUM
ajfa-8136	30	4	)	)	PUNCT
ajfa-8136	30	5	concluded	conclude	VERB
ajfa-8136	30	6	that	that	SCONJ
ajfa-8136	30	7	there	there	PRON
ajfa-8136	30	8	is	be	VERB
ajfa-8136	30	9	no	no	DET
ajfa-8136	30	10	single	single	ADJ
ajfa-8136	30	11	unambiguous	unambiguous	ADJ
ajfa-8136	30	12	,	,	PUNCT
ajfa-8136	30	13	theoretically	theoretically	ADV
ajfa-8136	30	14	correct	correct	ADJ
ajfa-8136	30	15	or	or	CCONJ
ajfa-8136	30	16	universally	universally	ADV
ajfa-8136	30	17	accepted	accept	VERB
ajfa-8136	30	18	definition	definition	NOUN
ajfa-8136	30	19	of	of	ADP
ajfa-8136	30	20	liquidity	liquidity	NOUN
ajfa-8136	30	21	.	.	PUNCT
ajfa-8136	31	1	sarr	sarr	PROPN
ajfa-8136	31	2	and	and	CCONJ
ajfa-8136	31	3	lybek	lybek	PROPN
ajfa-8136	31	4	(	(	PUNCT
ajfa-8136	31	5	2002	2002	NUM
ajfa-8136	31	6	)	)	PUNCT
ajfa-8136	31	7	opine	opine	VERB
ajfa-8136	31	8	that	that	SCONJ
ajfa-8136	31	9	there	there	PRON
ajfa-8136	31	10	is	be	VERB
ajfa-8136	31	11	no	no	DET
ajfa-8136	31	12	universally	universally	ADV
ajfa-8136	31	13	accepted	accept	VERB
ajfa-8136	31	14	measure	measure	NOUN
ajfa-8136	31	15	to	to	PART
ajfa-8136	31	16	determine	determine	VERB
ajfa-8136	31	17	a	a	DET
ajfa-8136	31	18	market	market	NOUN
ajfa-8136	31	19	’s	’s	NOUN
ajfa-8136	31	20	degree	degree	NOUN
ajfa-8136	31	21	of	of	ADP
ajfa-8136	31	22	liquidity	liquidity	NOUN
ajfa-8136	31	23	because	because	SCONJ
ajfa-8136	31	24	of	of	ADP
ajfa-8136	31	25	market	market	NOUN
ajfa-8136	31	26	specific	specific	ADJ
ajfa-8136	31	27	factors	factor	NOUN
ajfa-8136	31	28	and	and	CCONJ
ajfa-8136	31	29	peculiarities	peculiarity	NOUN
ajfa-8136	31	30	.	.	PUNCT
ajfa-8136	32	1	a	a	DET
ajfa-8136	32	2	liquid	liquid	ADJ
ajfa-8136	32	3	market	market	NOUN
ajfa-8136	32	4	has	have	VERB
ajfa-8136	32	5	depth	depth	NOUN
ajfa-8136	32	6	,	,	PUNCT
ajfa-8136	32	7	tightness	tightness	NOUN
ajfa-8136	32	8	,	,	PUNCT
ajfa-8136	32	9	and	and	CCONJ
ajfa-8136	32	10	resilience	resilience	NOUN
ajfa-8136	32	11	dimensions	dimension	NOUN
ajfa-8136	32	12	(	(	PUNCT
ajfa-8136	32	13	kyle	kyle	NOUN
ajfa-8136	32	14	,	,	PUNCT
ajfa-8136	32	15	1985	1985	NUM
ajfa-8136	32	16	)	)	PUNCT
ajfa-8136	32	17	.	.	PUNCT
ajfa-8136	33	1	black	black	ADJ
ajfa-8136	33	2	(	(	PUNCT
ajfa-8136	33	3	1971	1971	NUM
ajfa-8136	33	4	)	)	PUNCT
ajfa-8136	33	5	,	,	PUNCT
ajfa-8136	33	6	harris	harris	PROPN
ajfa-8136	33	7	(	(	PUNCT
ajfa-8136	33	8	1990	1990	NUM
ajfa-8136	33	9	)	)	PUNCT
ajfa-8136	33	10	and	and	CCONJ
ajfa-8136	33	11	o’hara	o’hara	NOUN
ajfa-8136	33	12	(	(	PUNCT
ajfa-8136	33	13	1995	1995	NUM
ajfa-8136	33	14	)	)	PUNCT
ajfa-8136	33	15	identified	identify	VERB
ajfa-8136	33	16	several	several	ADJ
ajfa-8136	33	17	other	other	ADJ
ajfa-8136	33	18	dimensions	dimension	NOUN
ajfa-8136	33	19	of	of	ADP
ajfa-8136	33	20	liquidity	liquidity	NOUN
ajfa-8136	33	21	viz	viz	PROPN
ajfa-8136	33	22	.	.	PUNCT
ajfa-8136	34	1	bid	bid	NOUN
ajfa-8136	34	2	-	-	PUNCT
ajfa-8136	34	3	ask	ask	NOUN
ajfa-8136	34	4	spread	spread	NOUN
ajfa-8136	34	5	also	also	ADV
ajfa-8136	34	6	called	call	VERB
ajfa-8136	34	7	width	width	NOUN
ajfa-8136	34	8	,	,	PUNCT
ajfa-8136	34	9	number	number	NOUN
ajfa-8136	34	10	of	of	ADP
ajfa-8136	34	11	tradable	tradable	ADJ
ajfa-8136	34	12	shares	share	NOUN
ajfa-8136	34	13	at	at	ADP
ajfa-8136	34	14	bid	bid	NOUN
ajfa-8136	34	15	and	and	CCONJ
ajfa-8136	34	16	offer	offer	VERB
ajfa-8136	34	17	prices	price	NOUN
ajfa-8136	34	18	;	;	PUNCT
ajfa-8136	34	19	and	and	CCONJ
ajfa-8136	34	20	immediacy	immediacy	NOUN
ajfa-8136	34	21	.	.	PUNCT
ajfa-8136	35	1	as	as	SCONJ
ajfa-8136	35	2	liquidity	liquidity	NOUN
ajfa-8136	35	3	has	have	VERB
ajfa-8136	35	4	multidimensional	multidimensional	ADJ
ajfa-8136	35	5	features	feature	NOUN
ajfa-8136	35	6	,	,	PUNCT
ajfa-8136	35	7	it	it	PRON
ajfa-8136	35	8	is	be	AUX
ajfa-8136	35	9	difficult	difficult	ADJ
ajfa-8136	35	10	to	to	PART
ajfa-8136	35	11	capture	capture	VERB
ajfa-8136	35	12	in	in	ADP
ajfa-8136	35	13	single	single	ADJ
ajfa-8136	35	14	measure	measure	NOUN
ajfa-8136	35	15	.	.	PUNCT
ajfa-8136	36	1	so	so	ADV
ajfa-8136	36	2	,	,	PUNCT
ajfa-8136	36	3	there	there	PRON
ajfa-8136	36	4	are	be	VERB
ajfa-8136	36	5	various	various	ADJ
ajfa-8136	36	6	measures	measure	NOUN
ajfa-8136	36	7	of	of	ADP
ajfa-8136	36	8	liquidity	liquidity	NOUN
ajfa-8136	36	9	.	.	PUNCT
ajfa-8136	37	1	the	the	DET
ajfa-8136	37	2	results	result	NOUN
ajfa-8136	37	3	from	from	ADP
ajfa-8136	37	4	different	different	ADJ
ajfa-8136	37	5	measures	measure	NOUN
ajfa-8136	37	6	of	of	ADP
ajfa-8136	37	7	liquidity	liquidity	NOUN
ajfa-8136	37	8	can	can	AUX
ajfa-8136	37	9	asian	asian	ADJ
ajfa-8136	37	10	journal	journal	NOUN
ajfa-8136	37	11	of	of	ADP
ajfa-8136	37	12	finance	finance	PROPN
ajfa-8136	37	13	&	&	CCONJ
ajfa-8136	37	14	accounting	accounting	PROPN
ajfa-8136	37	15	issn	issn	PROPN
ajfa-8136	37	16	1946	1946	NUM
ajfa-8136	37	17	-	-	PUNCT
ajfa-8136	37	18	052x	052x	NOUN
ajfa-8136	37	19	2015	2015	NUM
ajfa-8136	37	20	,	,	PUNCT
ajfa-8136	37	21	vol	vol	NOUN
ajfa-8136	37	22	.	.	PROPN
ajfa-8136	38	1	7	7	NUM
ajfa-8136	38	2	,	,	PUNCT
ajfa-8136	38	3	no	no	INTJ
ajfa-8136	38	4	.	.	NOUN
ajfa-8136	38	5	2	2	NUM
ajfa-8136	38	6	37	37	NUM
ajfa-8136	38	7	point	point	NOUN
ajfa-8136	38	8	to	to	ADP
ajfa-8136	38	9	different	different	ADJ
ajfa-8136	38	10	conclusions	conclusion	NOUN
ajfa-8136	38	11	(	(	PUNCT
ajfa-8136	38	12	benic	benic	ADJ
ajfa-8136	38	13	and	and	CCONJ
ajfa-8136	38	14	franic	franic	ADJ
ajfa-8136	38	15	,	,	PUNCT
ajfa-8136	38	16	2008	2008	NUM
ajfa-8136	38	17	)	)	PUNCT
ajfa-8136	38	18	.	.	PUNCT
ajfa-8136	39	1	liquidity	liquidity	NOUN
ajfa-8136	39	2	measures	measure	NOUN
ajfa-8136	39	3	are	be	AUX
ajfa-8136	39	4	captured	capture	VERB
ajfa-8136	39	5	at	at	ADP
ajfa-8136	39	6	different	different	ADJ
ajfa-8136	39	7	frequency	frequency	NOUN
ajfa-8136	39	8	viz	viz	PROPN
ajfa-8136	39	9	.	.	PUNCT
ajfa-8136	40	1	high	high	ADJ
ajfa-8136	40	2	frequency	frequency	NOUN
ajfa-8136	40	3	(	(	PUNCT
ajfa-8136	40	4	captured	capture	VERB
ajfa-8136	40	5	in	in	ADP
ajfa-8136	40	6	minutes	minute	NOUN
ajfa-8136	40	7	or	or	CCONJ
ajfa-8136	40	8	seconds	second	NOUN
ajfa-8136	40	9	)	)	PUNCT
ajfa-8136	40	10	and	and	CCONJ
ajfa-8136	40	11	low	low	ADJ
ajfa-8136	40	12	frequency	frequency	NOUN
ajfa-8136	40	13	(	(	PUNCT
ajfa-8136	40	14	captured	capture	VERB
ajfa-8136	40	15	daily	daily	ADV
ajfa-8136	40	16	)	)	PUNCT
ajfa-8136	40	17	.	.	PUNCT
ajfa-8136	41	1	study	study	NOUN
ajfa-8136	41	2	of	of	ADP
ajfa-8136	41	3	market	market	NOUN
ajfa-8136	41	4	microstructure	microstructure	NOUN
ajfa-8136	41	5	requires	require	VERB
ajfa-8136	41	6	liquidity	liquidity	NOUN
ajfa-8136	41	7	to	to	PART
ajfa-8136	41	8	be	be	AUX
ajfa-8136	41	9	computed	compute	VERB
ajfa-8136	41	10	at	at	ADP
ajfa-8136	41	11	a	a	DET
ajfa-8136	41	12	high	high	ADJ
ajfa-8136	41	13	frequency	frequency	NOUN
ajfa-8136	41	14	in	in	ADP
ajfa-8136	41	15	order	order	NOUN
ajfa-8136	41	16	to	to	PART
ajfa-8136	41	17	capture	capture	VERB
ajfa-8136	41	18	sufficient	sufficient	ADJ
ajfa-8136	41	19	variations	variation	NOUN
ajfa-8136	41	20	within	within	ADP
ajfa-8136	41	21	a	a	DET
ajfa-8136	41	22	day	day	NOUN
ajfa-8136	41	23	.	.	PUNCT
ajfa-8136	42	1	bernstein	bernstein	PROPN
ajfa-8136	42	2	(	(	PUNCT
ajfa-8136	42	3	1987	1987	NUM
ajfa-8136	42	4	)	)	PUNCT
ajfa-8136	42	5	examined	examine	VERB
ajfa-8136	42	6	different	different	ADJ
ajfa-8136	42	7	measures	measure	NOUN
ajfa-8136	42	8	of	of	ADP
ajfa-8136	42	9	stock	stock	NOUN
ajfa-8136	42	10	liquidity	liquidity	NOUN
ajfa-8136	42	11	and	and	CCONJ
ajfa-8136	42	12	concluded	conclude	VERB
ajfa-8136	42	13	that	that	SCONJ
ajfa-8136	42	14	liquidity	liquidity	NOUN
ajfa-8136	42	15	and	and	CCONJ
ajfa-8136	42	16	efficiency	efficiency	NOUN
ajfa-8136	42	17	are	be	AUX
ajfa-8136	42	18	not	not	PART
ajfa-8136	42	19	compatible	compatible	ADJ
ajfa-8136	42	20	to	to	ADP
ajfa-8136	42	21	each	each	DET
ajfa-8136	42	22	other	other	ADJ
ajfa-8136	42	23	.	.	PUNCT
ajfa-8136	43	1	a	a	DET
ajfa-8136	43	2	liquid	liquid	ADJ
ajfa-8136	43	3	market	market	NOUN
ajfa-8136	43	4	,	,	PUNCT
ajfa-8136	43	5	on	on	ADP
ajfa-8136	43	6	arrival	arrival	NOUN
ajfa-8136	43	7	of	of	ADP
ajfa-8136	43	8	new	new	ADJ
ajfa-8136	43	9	information	information	NOUN
ajfa-8136	43	10	,	,	PUNCT
ajfa-8136	43	11	keeps	keep	VERB
ajfa-8136	43	12	the	the	DET
ajfa-8136	43	13	noise	noise	NOUN
ajfa-8136	43	14	and	and	CCONJ
ajfa-8136	43	15	sudden	sudden	ADJ
ajfa-8136	43	16	price	price	NOUN
ajfa-8136	43	17	changes	change	NOUN
ajfa-8136	43	18	minimal	minimal	ADJ
ajfa-8136	43	19	.	.	PUNCT
ajfa-8136	44	1	on	on	ADP
ajfa-8136	44	2	other	other	ADJ
ajfa-8136	44	3	hand	hand	NOUN
ajfa-8136	44	4	,	,	PUNCT
ajfa-8136	44	5	in	in	ADP
ajfa-8136	44	6	efficient	efficient	ADJ
ajfa-8136	44	7	markets	market	NOUN
ajfa-8136	44	8	prices	price	NOUN
ajfa-8136	44	9	moves	move	VERB
ajfa-8136	44	10	fast	fast	ADV
ajfa-8136	44	11	as	as	SCONJ
ajfa-8136	44	12	the	the	DET
ajfa-8136	44	13	new	new	ADJ
ajfa-8136	44	14	information	information	NOUN
ajfa-8136	44	15	arrives	arrive	VERB
ajfa-8136	44	16	.	.	PUNCT
ajfa-8136	45	1	so	so	ADV
ajfa-8136	45	2	,	,	PUNCT
ajfa-8136	45	3	more	more	ADJ
ajfa-8136	45	4	liquidity	liquidity	NOUN
ajfa-8136	45	5	leads	lead	VERB
ajfa-8136	45	6	to	to	ADP
ajfa-8136	45	7	less	less	ADV
ajfa-8136	45	8	efficient	efficient	ADJ
ajfa-8136	45	9	market	market	NOUN
ajfa-8136	45	10	.	.	PUNCT
ajfa-8136	46	1	amihud	amihud	PROPN
ajfa-8136	46	2	and	and	CCONJ
ajfa-8136	46	3	mendelson	mendelson	PROPN
ajfa-8136	46	4	(	(	PUNCT
ajfa-8136	46	5	1986	1986	NUM
ajfa-8136	46	6	)	)	PUNCT
ajfa-8136	46	7	lay	lay	VERB
ajfa-8136	46	8	emphasis	emphasis	NOUN
ajfa-8136	46	9	on	on	ADP
ajfa-8136	46	10	the	the	DET
ajfa-8136	46	11	direct	direct	ADJ
ajfa-8136	46	12	relationship	relationship	NOUN
ajfa-8136	46	13	between	between	ADP
ajfa-8136	46	14	liquidity	liquidity	NOUN
ajfa-8136	46	15	and	and	CCONJ
ajfa-8136	46	16	cost	cost	NOUN
ajfa-8136	46	17	of	of	ADP
ajfa-8136	46	18	capital	capital	NOUN
ajfa-8136	46	19	.	.	PUNCT
ajfa-8136	47	1	high	high	ADJ
ajfa-8136	47	2	liquid	liquid	ADJ
ajfa-8136	47	3	markets	market	NOUN
ajfa-8136	47	4	are	be	AUX
ajfa-8136	47	5	attractive	attractive	ADJ
ajfa-8136	47	6	to	to	ADP
ajfa-8136	47	7	investors	investor	NOUN
ajfa-8136	47	8	because	because	SCONJ
ajfa-8136	47	9	of	of	ADP
ajfa-8136	47	10	the	the	DET
ajfa-8136	47	11	easy	easy	ADJ
ajfa-8136	47	12	exit	exit	NOUN
ajfa-8136	47	13	from	from	ADP
ajfa-8136	47	14	firm	firm	NOUN
ajfa-8136	47	15	’s	’s	PART
ajfa-8136	47	16	ownership	ownership	NOUN
ajfa-8136	47	17	.	.	PUNCT
ajfa-8136	48	1	this	this	PRON
ajfa-8136	48	2	in	in	ADP
ajfa-8136	48	3	turn	turn	NOUN
ajfa-8136	48	4	reduces	reduce	VERB
ajfa-8136	48	5	the	the	DET
ajfa-8136	48	6	opportunity	opportunity	NOUN
ajfa-8136	48	7	cost	cost	NOUN
ajfa-8136	48	8	of	of	ADP
ajfa-8136	48	9	capital	capital	NOUN
ajfa-8136	48	10	significantly	significantly	ADV
ajfa-8136	48	11	.	.	PUNCT
ajfa-8136	49	1	hui	hui	PROPN
ajfa-8136	49	2	and	and	CCONJ
ajfa-8136	49	3	heubel	heubel	PROPN
ajfa-8136	49	4	(	(	PUNCT
ajfa-8136	49	5	1984	1984	NUM
ajfa-8136	49	6	)	)	PUNCT
ajfa-8136	49	7	hypothesizes	hypothesize	VERB
ajfa-8136	49	8	that	that	DET
ajfa-8136	49	9	part	part	NOUN
ajfa-8136	49	10	of	of	ADP
ajfa-8136	49	11	unsystematic	unsystematic	ADJ
ajfa-8136	49	12	risk	risk	NOUN
ajfa-8136	49	13	represents	represent	VERB
ajfa-8136	49	14	liquidity	liquidity	NOUN
ajfa-8136	49	15	of	of	ADP
ajfa-8136	49	16	stock	stock	NOUN
ajfa-8136	49	17	.	.	PUNCT
ajfa-8136	50	1	they	they	PRON
ajfa-8136	50	2	measure	measure	VERB
ajfa-8136	50	3	liquidity	liquidity	NOUN
ajfa-8136	50	4	as	as	ADP
ajfa-8136	50	5	the	the	DET
ajfa-8136	50	6	sensitivity	sensitivity	NOUN
ajfa-8136	50	7	of	of	ADP
ajfa-8136	50	8	unsystematic	unsystematic	ADJ
ajfa-8136	50	9	risk	risk	NOUN
ajfa-8136	50	10	to	to	ADP
ajfa-8136	50	11	the	the	DET
ajfa-8136	50	12	changes	change	NOUN
ajfa-8136	50	13	in	in	ADP
ajfa-8136	50	14	volume	volume	NOUN
ajfa-8136	50	15	traded	trade	VERB
ajfa-8136	50	16	.	.	PUNCT
ajfa-8136	51	1	saar	saar	PROPN
ajfa-8136	51	2	and	and	CCONJ
ajfa-8136	51	3	lybek	lybek	PROPN
ajfa-8136	51	4	(	(	PUNCT
ajfa-8136	51	5	2002	2002	NUM
ajfa-8136	51	6	)	)	PUNCT
ajfa-8136	51	7	classified	classify	VERB
ajfa-8136	51	8	liquidity	liquidity	NOUN
ajfa-8136	51	9	measures	measure	NOUN
ajfa-8136	51	10	into	into	ADP
ajfa-8136	51	11	four	four	NUM
ajfa-8136	51	12	categories	category	NOUN
ajfa-8136	51	13	based	base	VERB
ajfa-8136	51	14	on	on	ADP
ajfa-8136	51	15	their	their	PRON
ajfa-8136	51	16	ability	ability	NOUN
ajfa-8136	51	17	to	to	PART
ajfa-8136	51	18	capture	capture	VERB
ajfa-8136	51	19	a	a	DET
ajfa-8136	51	20	particular	particular	ADJ
ajfa-8136	51	21	characteristic	characteristic	NOUN
ajfa-8136	51	22	.	.	PUNCT
ajfa-8136	52	1	the	the	DET
ajfa-8136	52	2	measures	measure	NOUN
ajfa-8136	52	3	are	be	AUX
ajfa-8136	52	4	transaction	transaction	NOUN
ajfa-8136	52	5	cost	cost	NOUN
ajfa-8136	52	6	measures	measure	NOUN
ajfa-8136	52	7	,	,	PUNCT
ajfa-8136	52	8	volume	volume	NOUN
ajfa-8136	52	9	-	-	PUNCT
ajfa-8136	52	10	based	base	VERB
ajfa-8136	52	11	(	(	PUNCT
ajfa-8136	52	12	breadth	breadth	NOUN
ajfa-8136	52	13	and	and	CCONJ
ajfa-8136	52	14	depth	depth	NOUN
ajfa-8136	52	15	)	)	PUNCT
ajfa-8136	52	16	,	,	PUNCT
ajfa-8136	52	17	equilibrium	equilibrium	NOUN
ajfa-8136	52	18	price	price	NOUN
ajfa-8136	52	19	based	base	VERB
ajfa-8136	52	20	measures	measure	NOUN
ajfa-8136	52	21	(	(	PUNCT
ajfa-8136	52	22	resiliency	resiliency	NOUN
ajfa-8136	52	23	)	)	PUNCT
ajfa-8136	52	24	and	and	CCONJ
ajfa-8136	52	25	market	market	NOUN
ajfa-8136	52	26	-	-	PUNCT
ajfa-8136	52	27	impact	impact	NOUN
ajfa-8136	52	28	measures	measure	NOUN
ajfa-8136	52	29	(	(	PUNCT
ajfa-8136	52	30	resiliency	resiliency	NOUN
ajfa-8136	52	31	and	and	CCONJ
ajfa-8136	52	32	speed	speed	NOUN
ajfa-8136	52	33	of	of	ADP
ajfa-8136	52	34	price	price	NOUN
ajfa-8136	52	35	discovery	discovery	NOUN
ajfa-8136	52	36	)	)	PUNCT
ajfa-8136	52	37	.	.	PUNCT
ajfa-8136	53	1	hui	hui	PROPN
ajfa-8136	53	2	-	-	PUNCT
ajfa-8136	53	3	heubel	heubel	PROPN
ajfa-8136	53	4	liquidity	liquidity	NOUN
ajfa-8136	53	5	ratio	ratio	NOUN
ajfa-8136	53	6	(	(	PUNCT
ajfa-8136	53	7	1984	1984	NUM
ajfa-8136	53	8	)	)	PUNCT
ajfa-8136	53	9	attempts	attempt	VERB
ajfa-8136	53	10	to	to	PART
ajfa-8136	53	11	capture	capture	VERB
ajfa-8136	53	12	market	market	NOUN
ajfa-8136	53	13	breadth	breadth	NOUN
ajfa-8136	53	14	,	,	PUNCT
ajfa-8136	53	15	which	which	PRON
ajfa-8136	53	16	is	be	AUX
ajfa-8136	53	17	related	relate	VERB
ajfa-8136	53	18	price	price	NOUN
ajfa-8136	53	19	impact	impact	NOUN
ajfa-8136	53	20	of	of	ADP
ajfa-8136	53	21	volume	volume	NOUN
ajfa-8136	53	22	of	of	ADP
ajfa-8136	53	23	trades	trade	NOUN
ajfa-8136	53	24	.	.	PUNCT
ajfa-8136	54	1	market	market	NOUN
ajfa-8136	54	2	efficiency	efficiency	NOUN
ajfa-8136	54	3	coefficient	coefficient	NOUN
ajfa-8136	54	4	(	(	PUNCT
ajfa-8136	54	5	mec	mec	NOUN
ajfa-8136	54	6	)	)	PUNCT
ajfa-8136	54	7	is	be	AUX
ajfa-8136	54	8	used	use	VERB
ajfa-8136	54	9	as	as	ADP
ajfa-8136	54	10	a	a	DET
ajfa-8136	54	11	price	price	NOUN
ajfa-8136	54	12	based	base	VERB
ajfa-8136	54	13	measure	measure	NOUN
ajfa-8136	54	14	which	which	PRON
ajfa-8136	54	15	states	state	VERB
ajfa-8136	54	16	that	that	SCONJ
ajfa-8136	54	17	the	the	DET
ajfa-8136	54	18	price	price	NOUN
ajfa-8136	54	19	movements	movement	NOUN
ajfa-8136	54	20	are	be	AUX
ajfa-8136	54	21	more	more	ADV
ajfa-8136	54	22	continuous	continuous	ADJ
ajfa-8136	54	23	in	in	ADP
ajfa-8136	54	24	liquid	liquid	ADJ
ajfa-8136	54	25	markets	market	NOUN
ajfa-8136	54	26	,	,	PUNCT
ajfa-8136	54	27	even	even	ADV
ajfa-8136	54	28	if	if	SCONJ
ajfa-8136	54	29	equilibrium	equilibrium	NOUN
ajfa-8136	54	30	prices	price	NOUN
ajfa-8136	54	31	are	be	AUX
ajfa-8136	54	32	impacted	impact	VERB
ajfa-8136	54	33	by	by	ADP
ajfa-8136	54	34	new	new	ADJ
ajfa-8136	54	35	information	information	NOUN
ajfa-8136	54	36	.	.	PUNCT
ajfa-8136	55	1	among	among	ADP
ajfa-8136	55	2	price	price	NOUN
ajfa-8136	55	3	impact	impact	NOUN
ajfa-8136	55	4	proxies	proxy	NOUN
ajfa-8136	55	5	,	,	PUNCT
ajfa-8136	55	6	amihud	amihud	PROPN
ajfa-8136	55	7	(	(	PUNCT
ajfa-8136	55	8	2002	2002	NUM
ajfa-8136	55	9	)	)	PUNCT
ajfa-8136	55	10	captures	capture	VERB
ajfa-8136	55	11	the	the	DET
ajfa-8136	55	12	lack	lack	NOUN
ajfa-8136	55	13	of	of	ADP
ajfa-8136	55	14	liquidity	liquidity	NOUN
ajfa-8136	55	15	by	by	ADP
ajfa-8136	55	16	dividing	divide	VERB
ajfa-8136	55	17	daily	daily	ADJ
ajfa-8136	55	18	return	return	NOUN
ajfa-8136	55	19	by	by	ADP
ajfa-8136	55	20	daily	daily	ADJ
ajfa-8136	55	21	dollar	dollar	NOUN
ajfa-8136	55	22	volume	volume	NOUN
ajfa-8136	55	23	.	.	PUNCT
ajfa-8136	56	1	this	this	DET
ajfa-8136	56	2	measure	measure	NOUN
ajfa-8136	56	3	is	be	AUX
ajfa-8136	56	4	called	call	VERB
ajfa-8136	56	5	as	as	ADP
ajfa-8136	56	6	illiquidity	illiquidity	NOUN
ajfa-8136	56	7	(	(	PUNCT
ajfa-8136	56	8	illiq	illiq	ADV
ajfa-8136	56	9	)	)	PUNCT
ajfa-8136	56	10	,	,	PUNCT
ajfa-8136	56	11	shows	show	VERB
ajfa-8136	56	12	the	the	DET
ajfa-8136	56	13	price	price	NOUN
ajfa-8136	56	14	shock	shock	NOUN
ajfa-8136	56	15	triggered	trigger	VERB
ajfa-8136	56	16	by	by	ADP
ajfa-8136	56	17	a	a	DET
ajfa-8136	56	18	unit	unit	NOUN
ajfa-8136	56	19	of	of	ADP
ajfa-8136	56	20	dollar	dollar	NOUN
ajfa-8136	56	21	volume	volume	NOUN
ajfa-8136	56	22	.	.	PUNCT
ajfa-8136	57	1	trizinkaet	trizinkaet	PROPN
ajfa-8136	57	2	al	al	PROPN
ajfa-8136	57	3	.	.	PROPN
ajfa-8136	58	1	(	(	PUNCT
ajfa-8136	58	2	2009	2009	NUM
ajfa-8136	58	3	)	)	PUNCT
ajfa-8136	58	4	conclude	conclude	VERB
ajfa-8136	58	5	the	the	DET
ajfa-8136	58	6	amihud	amihud	PROPN
ajfa-8136	58	7	measure	measure	NOUN
ajfa-8136	58	8	does	do	VERB
ajfa-8136	58	9	a	a	DET
ajfa-8136	58	10	better	well	ADJ
ajfa-8136	58	11	job	job	NOUN
ajfa-8136	58	12	than	than	ADP
ajfa-8136	58	13	most	most	ADJ
ajfa-8136	58	14	other	other	ADJ
ajfa-8136	58	15	measures	measure	NOUN
ajfa-8136	58	16	at	at	ADP
ajfa-8136	58	17	capturing	capture	VERB
ajfa-8136	58	18	liquidity	liquidity	NOUN
ajfa-8136	58	19	,	,	PUNCT
ajfa-8136	58	20	and	and	CCONJ
ajfa-8136	58	21	is	be	AUX
ajfa-8136	58	22	robust	robust	ADJ
ajfa-8136	58	23	to	to	PART
ajfa-8136	58	24	regime	regime	NOUN
ajfa-8136	58	25	changes	change	NOUN
ajfa-8136	58	26	such	such	ADJ
ajfa-8136	58	27	as	as	ADP
ajfa-8136	58	28	the	the	DET
ajfa-8136	58	29	change	change	NOUN
ajfa-8136	58	30	in	in	ADP
ajfa-8136	58	31	minimum	minimum	ADJ
ajfa-8136	58	32	tick	tick	NOUN
ajfa-8136	58	33	size	size	NOUN
ajfa-8136	58	34	to	to	ADP
ajfa-8136	58	35	decimals	decimal	NOUN
ajfa-8136	58	36	.	.	PUNCT
ajfa-8136	59	1	illiquidity	illiquidity	NOUN
ajfa-8136	59	2	(	(	PUNCT
ajfa-8136	59	3	illiq	illiq	ADV
ajfa-8136	59	4	)	)	PUNCT
ajfa-8136	59	5	is	be	AUX
ajfa-8136	59	6	estimated	estimate	VERB
ajfa-8136	59	7	for	for	ADP
ajfa-8136	59	8	every	every	DET
ajfa-8136	59	9	share	share	NOUN
ajfa-8136	59	10	using	use	VERB
ajfa-8136	59	11	daily	daily	ADJ
ajfa-8136	59	12	data	datum	NOUN
ajfa-8136	59	13	and	and	CCONJ
ajfa-8136	59	14	the	the	DET
ajfa-8136	59	15	impact	impact	NOUN
ajfa-8136	59	16	of	of	ADP
ajfa-8136	59	17	each	each	DET
ajfa-8136	59	18	share	share	NOUN
ajfa-8136	59	19	is	be	AUX
ajfa-8136	59	20	weighted	weight	VERB
ajfa-8136	59	21	by	by	ADP
ajfa-8136	59	22	its	its	PRON
ajfa-8136	59	23	free	free	ADJ
ajfa-8136	59	24	float	float	NOUN
ajfa-8136	59	25	rate	rate	NOUN
ajfa-8136	59	26	and	and	CCONJ
ajfa-8136	59	27	market	market	NOUN
ajfa-8136	59	28	capitalisation	capitalisation	NOUN
ajfa-8136	59	29	.	.	PUNCT
ajfa-8136	60	1	the	the	DET
ajfa-8136	60	2	“	"	PUNCT
ajfa-8136	60	3	amivest	amivest	ADJ
ajfa-8136	60	4	measure	measure	NOUN
ajfa-8136	60	5	”	"	PUNCT
ajfa-8136	60	6	,	,	PUNCT
ajfa-8136	60	7	introduced	introduce	VERB
ajfa-8136	60	8	by	by	ADP
ajfa-8136	60	9	cooper	cooper	PROPN
ajfa-8136	60	10	et	et	PROPN
ajfa-8136	60	11	al	al	PROPN
ajfa-8136	60	12	.	.	PROPN
ajfa-8136	60	13	(	(	PUNCT
ajfa-8136	60	14	1985	1985	NUM
ajfa-8136	60	15	)	)	PUNCT
ajfa-8136	60	16	,	,	PUNCT
ajfa-8136	60	17	compares	compare	VERB
ajfa-8136	60	18	daily	daily	ADJ
ajfa-8136	60	19	returns	return	NOUN
ajfa-8136	60	20	with	with	ADP
ajfa-8136	60	21	daily	daily	ADJ
ajfa-8136	60	22	volume	volume	NOUN
ajfa-8136	60	23	measured	measure	VERB
ajfa-8136	60	24	in	in	ADP
ajfa-8136	60	25	number	number	NOUN
ajfa-8136	60	26	of	of	ADP
ajfa-8136	60	27	shares	share	NOUN
ajfa-8136	60	28	.	.	PUNCT
ajfa-8136	61	1	the	the	DET
ajfa-8136	61	2	two	two	NUM
ajfa-8136	61	3	measuresviz	measuresviz	NOUN
ajfa-8136	61	4	.	.	PUNCT
ajfa-8136	61	5	amihud	amihud	PROPN
ajfa-8136	61	6	and	and	CCONJ
ajfa-8136	61	7	amivest	amiv	ADJ
ajfa-8136	61	8	,	,	PUNCT
ajfa-8136	61	9	even	even	ADV
ajfa-8136	61	10	if	if	SCONJ
ajfa-8136	61	11	constructed	construct	VERB
ajfa-8136	61	12	in	in	ADP
ajfa-8136	61	13	a	a	DET
ajfa-8136	61	14	similar	similar	ADJ
ajfa-8136	61	15	way	way	NOUN
ajfa-8136	61	16	,	,	PUNCT
ajfa-8136	61	17	differ	differ	VERB
ajfa-8136	61	18	in	in	ADP
ajfa-8136	61	19	several	several	ADJ
ajfa-8136	61	20	aspects	aspect	NOUN
ajfa-8136	61	21	.	.	PUNCT
ajfa-8136	62	1	for	for	ADP
ajfa-8136	62	2	example	example	NOUN
ajfa-8136	62	3	,	,	PUNCT
ajfa-8136	62	4	one	one	PRON
ajfa-8136	62	5	uses	use	VERB
ajfa-8136	62	6	dollar	dollar	NOUN
ajfa-8136	62	7	volume	volume	NOUN
ajfa-8136	62	8	while	while	SCONJ
ajfa-8136	62	9	the	the	DET
ajfa-8136	62	10	other	other	ADJ
ajfa-8136	62	11	uses	use	VERB
ajfa-8136	62	12	share	share	NOUN
ajfa-8136	62	13	volume	volume	NOUN
ajfa-8136	62	14	.	.	PUNCT
ajfa-8136	63	1	amihud	amihud	PROPN
ajfa-8136	63	2	measure	measure	NOUN
ajfa-8136	63	3	represents	represent	VERB
ajfa-8136	63	4	illiquidity	illiquidity	NOUN
ajfa-8136	63	5	,	,	PUNCT
ajfa-8136	63	6	while	while	SCONJ
ajfa-8136	63	7	amivest	amiv	ADJ
ajfa-8136	63	8	measure	measure	NOUN
ajfa-8136	63	9	indicates	indicate	VERB
ajfa-8136	63	10	liquidity	liquidity	NOUN
ajfa-8136	63	11	.	.	PUNCT
ajfa-8136	64	1	the	the	DET
ajfa-8136	64	2	limitation	limitation	NOUN
ajfa-8136	64	3	with	with	ADP
ajfa-8136	64	4	amihud	amihud	PROPN
ajfa-8136	64	5	measure	measure	NOUN
ajfa-8136	64	6	is	be	AUX
ajfa-8136	64	7	it	it	PRON
ajfa-8136	64	8	does	do	AUX
ajfa-8136	64	9	not	not	PART
ajfa-8136	64	10	incorporate	incorporate	VERB
ajfa-8136	64	11	days	day	NOUN
ajfa-8136	64	12	without	without	ADP
ajfa-8136	64	13	trading	trading	NOUN
ajfa-8136	64	14	,	,	PUNCT
ajfa-8136	64	15	which	which	PRON
ajfa-8136	64	16	in	in	ADP
ajfa-8136	64	17	and	and	CCONJ
ajfa-8136	64	18	of	of	ADP
ajfa-8136	64	19	itself	itself	PRON
ajfa-8136	64	20	contains	contain	VERB
ajfa-8136	64	21	important	important	ADJ
ajfa-8136	64	22	information	information	NOUN
ajfa-8136	64	23	for	for	ADP
ajfa-8136	64	24	illiquidity	illiquidity	NOUN
ajfa-8136	64	25	.	.	PUNCT
ajfa-8136	65	1	even	even	ADV
ajfa-8136	65	2	if	if	SCONJ
ajfa-8136	65	3	the	the	DET
ajfa-8136	65	4	amivest	amiv	ADJ
ajfa-8136	65	5	measure	measure	NOUN
ajfa-8136	65	6	does	do	AUX
ajfa-8136	65	7	not	not	PART
ajfa-8136	65	8	suffer	suffer	VERB
ajfa-8136	65	9	from	from	ADP
ajfa-8136	65	10	this	this	DET
ajfa-8136	65	11	limitation	limitation	NOUN
ajfa-8136	65	12	,	,	PUNCT
ajfa-8136	65	13	it	it	PRON
ajfa-8136	65	14	does	do	AUX
ajfa-8136	65	15	not	not	PART
ajfa-8136	65	16	include	include	VERB
ajfa-8136	65	17	information	information	NOUN
ajfa-8136	65	18	from	from	ADP
ajfa-8136	65	19	days	day	NOUN
ajfa-8136	65	20	with	with	ADP
ajfa-8136	65	21	a	a	DET
ajfa-8136	65	22	zero	zero	NUM
ajfa-8136	65	23	return	return	NOUN
ajfa-8136	65	24	.	.	PUNCT
ajfa-8136	66	1	ps	ps	NOUN
ajfa-8136	66	2	measure	measure	NOUN
ajfa-8136	66	3	of	of	ADP
ajfa-8136	66	4	liquidity	liquidity	NOUN
ajfa-8136	66	5	,	,	PUNCT
ajfa-8136	66	6	developed	develop	VERB
ajfa-8136	66	7	by	by	ADP
ajfa-8136	66	8	pastor	pastor	NOUN
ajfa-8136	66	9	and	and	CCONJ
ajfa-8136	66	10	stambaugh	stambaugh	NOUN
ajfa-8136	66	11	(	(	PUNCT
ajfa-8136	66	12	2003	2003	NUM
ajfa-8136	66	13	)	)	PUNCT
ajfa-8136	66	14	,	,	PUNCT
ajfa-8136	66	15	is	be	AUX
ajfa-8136	66	16	obtained	obtain	VERB
ajfa-8136	66	17	by	by	ADP
ajfa-8136	66	18	regressing	regress	VERB
ajfa-8136	66	19	daily	daily	ADJ
ajfa-8136	66	20	returns	return	NOUN
ajfa-8136	66	21	in	in	ADP
ajfa-8136	66	22	excess	excess	NOUN
ajfa-8136	66	23	of	of	ADP
ajfa-8136	66	24	daily	daily	ADJ
ajfa-8136	66	25	market	market	NOUN
ajfa-8136	66	26	index	index	NOUN
ajfa-8136	66	27	returns	return	NOUN
ajfa-8136	66	28	on	on	ADP
ajfa-8136	66	29	signed	sign	VERB
ajfa-8136	66	30	daily	daily	ADJ
ajfa-8136	66	31	dollar	dollar	NOUN
ajfa-8136	66	32	volume	volume	NOUN
ajfa-8136	66	33	.	.	PUNCT
ajfa-8136	67	1	high	high	ADJ
ajfa-8136	67	2	frequency	frequency	NOUN
ajfa-8136	67	3	benchmarks	benchmark	NOUN
ajfa-8136	67	4	are	be	AUX
ajfa-8136	67	5	categorized	categorize	VERB
ajfa-8136	67	6	as	as	ADP
ajfa-8136	67	7	(	(	PUNCT
ajfa-8136	67	8	1	1	NUM
ajfa-8136	67	9	)	)	PUNCT
ajfa-8136	67	10	spread	spread	VERB
ajfa-8136	67	11	benchmarks	benchmark	NOUN
ajfa-8136	67	12	and	and	CCONJ
ajfa-8136	67	13	(	(	PUNCT
ajfa-8136	67	14	2	2	NUM
ajfa-8136	67	15	)	)	PUNCT
ajfa-8136	67	16	price	price	NOUN
ajfa-8136	67	17	impact	impact	NOUN
ajfa-8136	67	18	benchmarks	benchmark	NOUN
ajfa-8136	67	19	.	.	PUNCT
ajfa-8136	68	1	the	the	DET
ajfa-8136	68	2	difference	difference	NOUN
ajfa-8136	68	3	between	between	ADP
ajfa-8136	68	4	the	the	DET
ajfa-8136	68	5	ask	ask	NOUN
ajfa-8136	68	6	quote	quote	INTJ
ajfa-8136	68	7	and	and	CCONJ
ajfa-8136	68	8	the	the	DET
ajfa-8136	68	9	bid	bid	NOUN
ajfa-8136	68	10	quote	quote	INTJ
ajfa-8136	68	11	at	at	ADP
ajfa-8136	68	12	time	time	NOUN
ajfa-8136	68	13	“	"	PUNCT
ajfa-8136	68	14	t	t	PROPN
ajfa-8136	68	15	”	"	PUNCT
ajfa-8136	68	16	divided	divide	VERB
ajfa-8136	68	17	by	by	ADP
ajfa-8136	68	18	the	the	DET
ajfa-8136	68	19	average	average	NOUN
ajfa-8136	68	20	of	of	ADP
ajfa-8136	68	21	the	the	DET
ajfa-8136	68	22	two	two	NUM
ajfa-8136	68	23	quotes	quote	NOUN
ajfa-8136	68	24	is	be	AUX
ajfa-8136	68	25	termed	term	VERB
ajfa-8136	68	26	as	as	SCONJ
ajfa-8136	68	27	quoted	quote	VERB
ajfa-8136	68	28	spread	spread	VERB
ajfa-8136	68	29	at	at	ADP
ajfa-8136	68	30	that	that	DET
ajfa-8136	68	31	particular	particular	ADJ
ajfa-8136	68	32	time	time	NOUN
ajfa-8136	68	33	.	.	PUNCT
ajfa-8136	69	1	the	the	DET
ajfa-8136	69	2	quoted	quote	VERB
ajfa-8136	69	3	spread	spread	NOUN
ajfa-8136	69	4	measures	measure	NOUN
ajfa-8136	69	5	pre	pre	ADJ
ajfa-8136	69	6	-	-	ADJ
ajfa-8136	69	7	trade	trade	ADJ
ajfa-8136	69	8	transaction	transaction	NOUN
ajfa-8136	69	9	costs	cost	NOUN
ajfa-8136	69	10	.	.	PUNCT
ajfa-8136	70	1	even	even	ADV
ajfa-8136	70	2	if	if	SCONJ
ajfa-8136	70	3	the	the	DET
ajfa-8136	70	4	quoted	quote	VERB
ajfa-8136	70	5	spread	spread	NOUN
ajfa-8136	70	6	provides	provide	VERB
ajfa-8136	70	7	important	important	ADJ
ajfa-8136	70	8	information	information	NOUN
ajfa-8136	70	9	about	about	ADP
ajfa-8136	70	10	transaction	transaction	NOUN
ajfa-8136	70	11	costs	cost	NOUN
ajfa-8136	70	12	,	,	PUNCT
ajfa-8136	70	13	it	it	PRON
ajfa-8136	70	14	is	be	AUX
ajfa-8136	70	15	not	not	PART
ajfa-8136	70	16	necessarily	necessarily	ADV
ajfa-8136	70	17	translated	translate	VERB
ajfa-8136	70	18	to	to	ADP
ajfa-8136	70	19	actual	actual	ADJ
ajfa-8136	70	20	transaction	transaction	NOUN
ajfa-8136	70	21	costs	cost	NOUN
ajfa-8136	70	22	.	.	PUNCT
ajfa-8136	71	1	asian	asian	ADJ
ajfa-8136	71	2	journal	journal	PROPN
ajfa-8136	71	3	of	of	ADP
ajfa-8136	71	4	finance	finance	PROPN
ajfa-8136	71	5	&	&	CCONJ
ajfa-8136	71	6	accounting	accounting	PROPN
ajfa-8136	71	7	issn	issn	PROPN
ajfa-8136	71	8	1946	1946	NUM
ajfa-8136	71	9	-	-	PUNCT
ajfa-8136	71	10	052x	052x	NOUN
ajfa-8136	71	11	2015	2015	NUM
ajfa-8136	71	12	,	,	PUNCT
ajfa-8136	71	13	vol	vol	NOUN
ajfa-8136	71	14	.	.	PROPN
ajfa-8136	71	15	7	7	NUM
ajfa-8136	71	16	,	,	PUNCT
ajfa-8136	71	17	no	no	INTJ
ajfa-8136	71	18	.	.	NOUN
ajfa-8136	71	19	2	2	NUM
ajfa-8136	71	20	38	38	NUM
ajfa-8136	71	21	actual	actual	ADJ
ajfa-8136	71	22	transaction	transaction	NOUN
ajfa-8136	71	23	costs	cost	NOUN
ajfa-8136	71	24	borne	bear	VERB
ajfa-8136	71	25	by	by	ADP
ajfa-8136	71	26	investors	investor	NOUN
ajfa-8136	71	27	are	be	AUX
ajfa-8136	71	28	better	well	ADV
ajfa-8136	71	29	measured	measure	VERB
ajfa-8136	71	30	by	by	ADP
ajfa-8136	71	31	the	the	DET
ajfa-8136	71	32	effective	effective	ADJ
ajfa-8136	71	33	spread	spread	NOUN
ajfa-8136	71	34	.	.	PUNCT
ajfa-8136	72	1	the	the	DET
ajfa-8136	72	2	effective	effective	ADJ
ajfa-8136	72	3	spread	spread	NOUN
ajfa-8136	72	4	is	be	AUX
ajfa-8136	72	5	defined	define	VERB
ajfa-8136	72	6	as	as	ADP
ajfa-8136	72	7	the	the	DET
ajfa-8136	72	8	absolute	absolute	ADJ
ajfa-8136	72	9	value	value	NOUN
ajfa-8136	72	10	of	of	ADP
ajfa-8136	72	11	the	the	DET
ajfa-8136	72	12	difference	difference	NOUN
ajfa-8136	72	13	between	between	ADP
ajfa-8136	72	14	the	the	DET
ajfa-8136	72	15	transaction	transaction	NOUN
ajfa-8136	72	16	price	price	NOUN
ajfa-8136	72	17	and	and	CCONJ
ajfa-8136	72	18	the	the	DET
ajfa-8136	72	19	midpoint	midpoint	NOUN
ajfa-8136	72	20	of	of	ADP
ajfa-8136	72	21	the	the	DET
ajfa-8136	72	22	quotes	quote	NOUN
ajfa-8136	72	23	prevailing	prevail	VERB
ajfa-8136	72	24	at	at	ADP
ajfa-8136	72	25	the	the	DET
ajfa-8136	72	26	time	time	NOUN
ajfa-8136	72	27	of	of	ADP
ajfa-8136	72	28	the	the	DET
ajfa-8136	72	29	transaction	transaction	NOUN
ajfa-8136	72	30	,	,	PUNCT
ajfa-8136	72	31	divided	divide	VERB
ajfa-8136	72	32	by	by	ADP
ajfa-8136	72	33	the	the	DET
ajfa-8136	72	34	transaction	transaction	NOUN
ajfa-8136	72	35	price	price	NOUN
ajfa-8136	72	36	.	.	PUNCT
ajfa-8136	73	1	the	the	DET
ajfa-8136	73	2	realized	realize	VERB
ajfa-8136	73	3	spread	spread	NOUN
ajfa-8136	73	4	matches	match	VERB
ajfa-8136	73	5	the	the	DET
ajfa-8136	73	6	price	price	NOUN
ajfa-8136	73	7	of	of	ADP
ajfa-8136	73	8	a	a	DET
ajfa-8136	73	9	trade	trade	NOUN
ajfa-8136	73	10	with	with	ADP
ajfa-8136	73	11	its	its	PRON
ajfa-8136	73	12	post	post	ADJ
ajfa-8136	73	13	-	-	ADJ
ajfa-8136	73	14	trade	trade	ADJ
ajfa-8136	73	15	true	true	ADJ
ajfa-8136	73	16	value	value	NOUN
ajfa-8136	73	17	.	.	PUNCT
ajfa-8136	74	1	hasbrouck	hasbrouck	NOUN
ajfa-8136	74	2	(	(	PUNCT
ajfa-8136	74	3	2009	2009	NUM
ajfa-8136	74	4	)	)	PUNCT
ajfa-8136	74	5	estimates	estimate	VERB
ajfa-8136	74	6	the	the	DET
ajfa-8136	74	7	slope	slope	NOUN
ajfa-8136	74	8	of	of	ADP
ajfa-8136	74	9	the	the	DET
ajfa-8136	74	10	price	price	NOUN
ajfa-8136	74	11	function	function	NOUN
ajfa-8136	74	12	as	as	ADP
ajfa-8136	74	13	price	price	NOUN
ajfa-8136	74	14	impact	impact	NOUN
ajfa-8136	74	15	measure	measure	NOUN
ajfa-8136	74	16	.	.	PUNCT
ajfa-8136	75	1	five	five	NUM
ajfa-8136	75	2	minute	minute	NOUN
ajfa-8136	75	3	price	price	NOUN
ajfa-8136	75	4	impact	impact	NOUN
ajfa-8136	75	5	introduced	introduce	VERB
ajfa-8136	75	6	by	by	ADP
ajfa-8136	75	7	goyenkoet	goyenkoet	ADJ
ajfa-8136	75	8	al.(2009	al.(2009	NOUN
ajfa-8136	75	9	)	)	PUNCT
ajfa-8136	75	10	,	,	PUNCT
ajfa-8136	75	11	captures	capture	VERB
ajfa-8136	75	12	the	the	DET
ajfa-8136	75	13	permanent	permanent	ADJ
ajfa-8136	75	14	price	price	NOUN
ajfa-8136	75	15	change	change	NOUN
ajfa-8136	75	16	over	over	ADP
ajfa-8136	75	17	a	a	DET
ajfa-8136	75	18	5	5	NUM
ajfa-8136	75	19	-	-	PUNCT
ajfa-8136	75	20	minute	minute	NOUN
ajfa-8136	75	21	window	window	NOUN
ajfa-8136	75	22	subsequent	subsequent	NOUN
ajfa-8136	75	23	to	to	ADP
ajfa-8136	75	24	a	a	DET
ajfa-8136	75	25	trade	trade	NOUN
ajfa-8136	75	26	.	.	PUNCT
ajfa-8136	76	1	it	it	PRON
ajfa-8136	76	2	measures	measure	VERB
ajfa-8136	76	3	the	the	DET
ajfa-8136	76	4	change	change	NOUN
ajfa-8136	76	5	in	in	ADP
ajfa-8136	76	6	quote	quote	INTJ
ajfa-8136	76	7	midpoints	midpoint	NOUN
ajfa-8136	76	8	from	from	ADP
ajfa-8136	76	9	the	the	DET
ajfa-8136	76	10	time	time	NOUN
ajfa-8136	76	11	of	of	ADP
ajfa-8136	76	12	the	the	DET
ajfa-8136	76	13	trade	trade	NOUN
ajfa-8136	76	14	to	to	ADP
ajfa-8136	76	15	5	5	NUM
ajfa-8136	76	16	minutes	minute	NOUN
ajfa-8136	76	17	after	after	ADP
ajfa-8136	76	18	the	the	DET
ajfa-8136	76	19	trade	trade	NOUN
ajfa-8136	76	20	.	.	PUNCT
ajfa-8136	77	1	huang	huang	PROPN
ajfa-8136	77	2	and	and	CCONJ
ajfa-8136	77	3	stoll	stoll	PROPN
ajfa-8136	77	4	(	(	PUNCT
ajfa-8136	77	5	1996	1996	NUM
ajfa-8136	77	6	)	)	PUNCT
ajfa-8136	77	7	calculate	calculate	VERB
ajfa-8136	77	8	adverse	adverse	ADJ
ajfa-8136	77	9	selection	selection	NOUN
ajfa-8136	77	10	costs	cost	NOUN
ajfa-8136	77	11	by	by	ADP
ajfa-8136	77	12	subtracting	subtract	VERB
ajfa-8136	77	13	the	the	DET
ajfa-8136	77	14	realized	realize	VERB
ajfa-8136	77	15	spread	spread	NOUN
ajfa-8136	77	16	from	from	ADP
ajfa-8136	77	17	the	the	DET
ajfa-8136	77	18	effective	effective	ADJ
ajfa-8136	77	19	spread	spread	NOUN
ajfa-8136	77	20	.	.	PUNCT
ajfa-8136	78	1	trzcinkaet	trzcinkaet	NOUN
ajfa-8136	78	2	al	al	PROPN
ajfa-8136	78	3	.	.	PUNCT
ajfa-8136	79	1	(	(	PUNCT
ajfa-8136	79	2	2011	2011	NUM
ajfa-8136	79	3	)	)	PUNCT
ajfa-8136	79	4	compares	compare	VERB
ajfa-8136	79	5	percent	percent	NOUN
ajfa-8136	79	6	-	-	PUNCT
ajfa-8136	79	7	cost	cost	NOUN
ajfa-8136	79	8	and	and	CCONJ
ajfa-8136	79	9	cost	cost	NOUN
ajfa-8136	79	10	-	-	PUNCT
ajfa-8136	79	11	per	per	ADP
ajfa-8136	79	12	-	-	PUNCT
ajfa-8136	79	13	volume	volume	NOUN
ajfa-8136	79	14	liquidity	liquidity	NOUN
ajfa-8136	79	15	proxies	proxy	NOUN
ajfa-8136	79	16	computed	compute	VERB
ajfa-8136	79	17	from	from	ADP
ajfa-8136	79	18	daily	daily	ADJ
ajfa-8136	79	19	stock	stock	NOUN
ajfa-8136	79	20	data	datum	NOUN
ajfa-8136	79	21	to	to	ADP
ajfa-8136	79	22	liquidity	liquidity	NOUN
ajfa-8136	79	23	benchmarks	benchmark	NOUN
ajfa-8136	79	24	computed	compute	VERB
ajfa-8136	79	25	from	from	ADP
ajfa-8136	79	26	intraday	intraday	PROPN
ajfa-8136	79	27	data	datum	NOUN
ajfa-8136	79	28	.	.	PUNCT
ajfa-8136	80	1	trzcinkaet	trzcinkaet	NOUN
ajfa-8136	80	2	al	al	PROPN
ajfa-8136	80	3	.	.	PUNCT
ajfa-8136	81	1	(	(	PUNCT
ajfa-8136	81	2	2011)find	2011)find	NUM
ajfa-8136	81	3	that	that	PRON
ajfa-8136	81	4	a	a	DET
ajfa-8136	81	5	new	new	ADJ
ajfa-8136	81	6	measure	measure	NOUN
ajfa-8136	81	7	called	call	VERB
ajfa-8136	81	8	fht	fht	VERB
ajfa-8136	81	9	by	by	ADP
ajfa-8136	81	10	simplifying	simplify	VERB
ajfa-8136	81	11	the	the	DET
ajfa-8136	81	12	lot	lot	NOUN
ajfa-8136	81	13	model	model	NOUN
ajfa-8136	81	14	.	.	PUNCT
ajfa-8136	82	1	this	this	DET
ajfa-8136	82	2	proxy	proxy	NOUN
ajfa-8136	82	3	has	have	VERB
ajfa-8136	82	4	a	a	DET
ajfa-8136	82	5	high	high	ADJ
ajfa-8136	82	6	correlation	correlation	NOUN
ajfa-8136	82	7	with	with	ADP
ajfa-8136	82	8	spread	spread	ADJ
ajfa-8136	82	9	related	relate	VERB
ajfa-8136	82	10	measures	measure	NOUN
ajfa-8136	82	11	viz	viz	VERB
ajfa-8136	82	12	.	.	PUNCT
ajfa-8136	83	1	percent	percent	NOUN
ajfa-8136	83	2	price	price	NOUN
ajfa-8136	83	3	impact	impact	NOUN
ajfa-8136	83	4	,	,	PUNCT
ajfa-8136	83	5	percent	percent	NOUN
ajfa-8136	83	6	effective	effective	ADJ
ajfa-8136	83	7	spread	spread	NOUN
ajfa-8136	83	8	,	,	PUNCT
ajfa-8136	83	9	percent	percent	NOUN
ajfa-8136	83	10	quoted	quote	VERB
ajfa-8136	83	11	spread	spread	NOUN
ajfa-8136	83	12	,	,	PUNCT
ajfa-8136	83	13	and	and	CCONJ
ajfa-8136	83	14	percent	percent	NOUN
ajfa-8136	83	15	realized	realize	VERB
ajfa-8136	83	16	spread	spread	NOUN
ajfa-8136	83	17	.	.	PUNCT
ajfa-8136	84	1	also	also	ADV
ajfa-8136	84	2	,	,	PUNCT
ajfa-8136	84	3	this	this	DET
ajfa-8136	84	4	proxy	proxy	NOUN
ajfa-8136	84	5	captures	capture	VERB
ajfa-8136	84	6	the	the	DET
ajfa-8136	84	7	level	level	NOUN
ajfa-8136	84	8	of	of	ADP
ajfa-8136	84	9	effective	effective	ADJ
ajfa-8136	84	10	spread	spread	NOUN
ajfa-8136	84	11	and	and	CCONJ
ajfa-8136	84	12	quoted	quote	VERB
ajfa-8136	84	13	spread	spread	NOUN
ajfa-8136	84	14	.	.	PUNCT
ajfa-8136	85	1	however	however	ADV
ajfa-8136	85	2	,	,	PUNCT
ajfa-8136	85	3	it	it	PRON
ajfa-8136	85	4	fails	fail	VERB
ajfa-8136	85	5	to	to	PART
ajfa-8136	85	6	capture	capture	VERB
ajfa-8136	85	7	the	the	DET
ajfa-8136	85	8	level	level	NOUN
ajfa-8136	85	9	of	of	ADP
ajfa-8136	85	10	realized	realize	VERB
ajfa-8136	85	11	spread	spread	NOUN
ajfa-8136	85	12	or	or	CCONJ
ajfa-8136	85	13	price	price	NOUN
ajfa-8136	85	14	impact	impact	NOUN
ajfa-8136	85	15	.	.	PUNCT
ajfa-8136	86	1	mianbi	mianbi	NOUN
ajfa-8136	86	2	and	and	CCONJ
ajfa-8136	86	3	langnan	langnan	PROPN
ajfa-8136	86	4	(	(	PUNCT
ajfa-8136	86	5	2007	2007	NUM
ajfa-8136	86	6	)	)	PUNCT
ajfa-8136	86	7	made	make	VERB
ajfa-8136	86	8	a	a	DET
ajfa-8136	86	9	empirical	empirical	ADJ
ajfa-8136	86	10	comparison	comparison	NOUN
ajfa-8136	86	11	of	of	ADP
ajfa-8136	86	12	the	the	DET
ajfa-8136	86	13	high	high	ADJ
ajfa-8136	86	14	frequency	frequency	NOUN
ajfa-8136	86	15	measures	measure	NOUN
ajfa-8136	86	16	of	of	ADP
ajfa-8136	86	17	liquidity	liquidity	NOUN
ajfa-8136	86	18	and	and	CCONJ
ajfa-8136	86	19	low	low	ADJ
ajfa-8136	86	20	frequency	frequency	NOUN
ajfa-8136	86	21	measures	measure	NOUN
ajfa-8136	86	22	of	of	ADP
ajfa-8136	86	23	liquidity	liquidity	NOUN
ajfa-8136	86	24	using	use	VERB
ajfa-8136	86	25	pearson	pearson	PROPN
ajfa-8136	86	26	,	,	PUNCT
ajfa-8136	86	27	partial	partial	ADJ
ajfa-8136	86	28	pearson	pearson	NOUN
ajfa-8136	86	29	and	and	CCONJ
ajfa-8136	86	30	spearman	spearman	NOUN
ajfa-8136	86	31	correlations	correlation	NOUN
ajfa-8136	86	32	on	on	ADP
ajfa-8136	86	33	component	component	NOUN
ajfa-8136	86	34	stocks	stock	NOUN
ajfa-8136	86	35	of	of	ADP
ajfa-8136	86	36	sh180	sh180	PROPN
ajfa-8136	86	37	.	.	PUNCT
ajfa-8136	87	1	hui	hui	PROPN
ajfa-8136	87	2	-	-	PUNCT
ajfa-8136	87	3	heubel	heubel	PROPN
ajfa-8136	87	4	liquidity	liquidity	NOUN
ajfa-8136	87	5	ratio	ratio	NOUN
ajfa-8136	87	6	performs	perform	VERB
ajfa-8136	87	7	as	as	ADP
ajfa-8136	87	8	the	the	DET
ajfa-8136	87	9	best	good	ADJ
ajfa-8136	87	10	measure	measure	NOUN
ajfa-8136	87	11	.	.	PUNCT
ajfa-8136	88	1	asian	asian	ADJ
ajfa-8136	88	2	journal	journal	PROPN
ajfa-8136	88	3	of	of	ADP
ajfa-8136	88	4	finance	finance	PROPN
ajfa-8136	88	5	&	&	CCONJ
ajfa-8136	88	6	accounting	accounting	PROPN
ajfa-8136	88	7	issn	issn	PROPN
ajfa-8136	88	8	1946	1946	NUM
ajfa-8136	88	9	-	-	PUNCT
ajfa-8136	88	10	052x	052x	NOUN
ajfa-8136	88	11	2015	2015	NUM
ajfa-8136	88	12	,	,	PUNCT
ajfa-8136	88	13	vol	vol	NOUN
ajfa-8136	88	14	.	.	PROPN
ajfa-8136	88	15	7	7	NUM
ajfa-8136	88	16	,	,	PUNCT
ajfa-8136	88	17	no	no	INTJ
ajfa-8136	88	18	.	.	NOUN
ajfa-8136	88	19	2	2	NUM
ajfa-8136	88	20	39	39	NUM
ajfa-8136	88	21	table	table	NOUN
ajfa-8136	88	22	1.summary	1.summary	NUM
ajfa-8136	88	23	of	of	ADP
ajfa-8136	88	24	empirical	empirical	ADJ
ajfa-8136	88	25	studies	study	NOUN
ajfa-8136	88	26	on	on	ADP
ajfa-8136	88	27	liquidity	liquidity	NOUN
ajfa-8136	88	28	proxies	proxy	NOUN
ajfa-8136	88	29	author/	author/	NUM
ajfa-8136	88	30	’s	’s	PART
ajfa-8136	88	31	(	(	PUNCT
ajfa-8136	88	32	year	year	NOUN
ajfa-8136	88	33	)	)	PUNCT
ajfa-8136	88	34	frequency	frequency	NOUN
ajfa-8136	88	35	dimension	dimension	NOUN
ajfa-8136	88	36	remarks	remark	VERB
ajfa-8136	88	37	cooper	cooper	PROPN
ajfa-8136	88	38	et	et	PROPN
ajfa-8136	88	39	al	al	PROPN
ajfa-8136	88	40	.	.	PROPN
ajfa-8136	89	1	(	(	PUNCT
ajfa-8136	89	2	1985	1985	NUM
ajfa-8136	89	3	)	)	PUNCT
ajfa-8136	89	4	low	low	NOUN
ajfa-8136	89	5	(	(	PUNCT
ajfa-8136	89	6	d	d	NOUN
ajfa-8136	89	7	)	)	PUNCT
ajfa-8136	89	8	price	price	NOUN
ajfa-8136	89	9	impact	impact	NOUN
ajfa-8136	89	10	amivest	amiv	ADJ
ajfa-8136	89	11	measure	measure	NOUN
ajfa-8136	89	12	of	of	ADP
ajfa-8136	89	13	liquidity	liquidity	NOUN
ajfa-8136	89	14	chordia	chordia	NOUN
ajfa-8136	89	15	et	et	NOUN
ajfa-8136	89	16	al	al	PROPN
ajfa-8136	89	17	.	.	PROPN
ajfa-8136	90	1	(	(	PUNCT
ajfa-8136	90	2	2000	2000	NUM
ajfa-8136	90	3	)	)	PUNCT
ajfa-8136	90	4	high	high	ADJ
ajfa-8136	90	5	(	(	PUNCT
ajfa-8136	90	6	min	min	NOUN
ajfa-8136	90	7	)	)	PUNCT
ajfa-8136	90	8	transaction	transaction	NOUN
ajfa-8136	90	9	cost	cost	NOUN
ajfa-8136	90	10	difference	difference	NOUN
ajfa-8136	90	11	between	between	ADP
ajfa-8136	90	12	bid	bid	NOUN
ajfa-8136	90	13	and	and	CCONJ
ajfa-8136	90	14	ask	ask	VERB
ajfa-8136	90	15	price	price	NOUN
ajfa-8136	90	16	datar	datar	NOUN
ajfa-8136	90	17	(	(	PUNCT
ajfa-8136	90	18	2000	2000	NUM
ajfa-8136	90	19	)	)	PUNCT
ajfa-8136	90	20	low	low	NOUN
ajfa-8136	90	21	(	(	PUNCT
ajfa-8136	90	22	d	d	NOUN
ajfa-8136	90	23	or	or	CCONJ
ajfa-8136	90	24	m	m	NOUN
ajfa-8136	90	25	)	)	PUNCT
ajfa-8136	90	26	price	price	NOUN
ajfa-8136	90	27	impact	impact	NOUN
ajfa-8136	90	28	coefficient	coefficient	NOUN
ajfa-8136	90	29	of	of	ADP
ajfa-8136	90	30	elasticity	elasticity	NOUN
ajfa-8136	90	31	of	of	ADP
ajfa-8136	90	32	trading	trading	NOUN
ajfa-8136	90	33	amihud	amihud	PROPN
ajfa-8136	90	34	(	(	PUNCT
ajfa-8136	90	35	2002	2002	NUM
ajfa-8136	90	36	)	)	PUNCT
ajfa-8136	90	37	low	low	NOUN
ajfa-8136	90	38	(	(	PUNCT
ajfa-8136	90	39	d	d	NOUN
ajfa-8136	90	40	)	)	PUNCT
ajfa-8136	90	41	price	price	NOUN
ajfa-8136	90	42	impact	impact	NOUN
ajfa-8136	90	43	measures	measure	VERB
ajfa-8136	90	44	illiquidity	illiquidity	NOUN
ajfa-8136	90	45	,	,	PUNCT
ajfa-8136	90	46	no	no	DET
ajfa-8136	90	47	zero	zero	NUM
ajfa-8136	90	48	trading	trading	NOUN
ajfa-8136	90	49	days	day	NOUN
ajfa-8136	90	50	,	,	PUNCT
ajfa-8136	90	51	sensitivity	sensitivity	NOUN
ajfa-8136	90	52	associated	associate	VERB
ajfa-8136	90	53	with	with	ADP
ajfa-8136	90	54	the	the	DET
ajfa-8136	90	55	trade	trade	NOUN
ajfa-8136	90	56	of	of	ADP
ajfa-8136	90	57	one	one	NUM
ajfa-8136	90	58	rupee	rupee	NOUN
ajfa-8136	90	59	of	of	ADP
ajfa-8136	90	60	trading	trading	NOUN
ajfa-8136	90	61	volume	volume	NOUN
ajfa-8136	90	62	pastor	pastor	NOUN
ajfa-8136	90	63	and	and	CCONJ
ajfa-8136	90	64	stambaugh	stambaugh	NOUN
ajfa-8136	90	65	(	(	PUNCT
ajfa-8136	90	66	2003	2003	NUM
ajfa-8136	90	67	)	)	PUNCT
ajfa-8136	90	68	low	low	NOUN
ajfa-8136	90	69	(	(	PUNCT
ajfa-8136	90	70	d	d	NOUN
ajfa-8136	90	71	)	)	PUNCT
ajfa-8136	90	72	price	price	NOUN
ajfa-8136	90	73	impact	impact	NOUN
ajfa-8136	90	74	extent	extent	NOUN
ajfa-8136	90	75	to	to	PART
ajfa-8136	90	76	which	which	PRON
ajfa-8136	90	77	the	the	DET
ajfa-8136	90	78	volume	volume	NOUN
ajfa-8136	90	79	of	of	ADP
ajfa-8136	90	80	stocks	stock	NOUN
ajfa-8136	90	81	traded	trade	VERB
ajfa-8136	90	82	impactsstock	impactsstock	NOUN
ajfa-8136	90	83	prices	price	NOUN
ajfa-8136	90	84	uddin	uddin	PROPN
ajfa-8136	90	85	(	(	PUNCT
ajfa-8136	90	86	2009	2009	NUM
ajfa-8136	90	87	)	)	PUNCT
ajfa-8136	90	88	low	low	ADJ
ajfa-8136	90	89	(	(	PUNCT
ajfa-8136	90	90	m	m	NOUN
ajfa-8136	90	91	)	)	PUNCT
ajfa-8136	90	92	relative	relative	ADJ
ajfa-8136	90	93	measure	measure	NOUN
ajfa-8136	90	94	stock	stock	NOUN
ajfa-8136	90	95	can	can	AUX
ajfa-8136	90	96	not	not	PART
ajfa-8136	90	97	be	be	AUX
ajfa-8136	90	98	illiquid	illiquid	ADJ
ajfa-8136	90	99	if	if	SCONJ
ajfa-8136	90	100	average	average	ADJ
ajfa-8136	90	101	market	market	NOUN
ajfa-8136	90	102	liquidity	liquidity	NOUN
ajfa-8136	90	103	is	be	AUX
ajfa-8136	90	104	low	low	ADJ
ajfa-8136	90	105	,	,	PUNCT
ajfa-8136	90	106	factors	factor	VERB
ajfa-8136	90	107	systematic	systematic	ADJ
ajfa-8136	90	108	liquidity	liquidity	NOUN
ajfa-8136	90	109	risk	risk	NOUN
ajfa-8136	90	110	trzcinka	trzcinka	NOUN
ajfa-8136	90	111	et	et	PROPN
ajfa-8136	90	112	al	al	PROPN
ajfa-8136	90	113	.	.	PROPN
ajfa-8136	91	1	(	(	PUNCT
ajfa-8136	91	2	2009	2009	NUM
ajfa-8136	91	3	)	)	PUNCT
ajfa-8136	91	4	low	low	NOUN
ajfa-8136	91	5	(	(	PUNCT
ajfa-8136	91	6	d	d	NOUN
ajfa-8136	91	7	)	)	PUNCT
ajfa-8136	91	8	,	,	PUNCT
ajfa-8136	91	9	high	high	ADJ
ajfa-8136	91	10	(	(	PUNCT
ajfa-8136	91	11	min	min	NOUN
ajfa-8136	91	12	)	)	PUNCT
ajfa-8136	91	13	comparative	comparative	ADJ
ajfa-8136	91	14	analysis	analysis	NOUN
ajfa-8136	91	15	identify	identify	VERB
ajfa-8136	91	16	high	high	ADJ
ajfa-8136	91	17	quality	quality	NOUN
ajfa-8136	91	18	proxies	proxy	NOUN
ajfa-8136	91	19	,	,	PUNCT
ajfa-8136	91	20	amihud	amihud	PROPN
ajfa-8136	91	21	(	(	PUNCT
ajfa-8136	91	22	2002)well	2002)well	NUM
ajfa-8136	91	23	measures	measure	NOUN
ajfa-8136	91	24	price	price	NOUN
ajfa-8136	91	25	impact	impact	NOUN
ajfa-8136	91	26	source	source	NOUN
ajfa-8136	91	27	:	:	PUNCT
ajfa-8136	91	28	compiled	compile	VERB
ajfa-8136	91	29	by	by	ADP
ajfa-8136	91	30	authors	author	NOUN
ajfa-8136	91	31	from	from	ADP
ajfa-8136	91	32	cited	cite	VERB
ajfa-8136	91	33	research	research	NOUN
ajfa-8136	91	34	articles	article	NOUN
ajfa-8136	91	35	.	.	PUNCT
ajfa-8136	92	1	d	d	X
ajfa-8136	92	2	stands	stand	VERB
ajfa-8136	92	3	for	for	ADP
ajfa-8136	92	4	daily	daily	ADJ
ajfa-8136	92	5	measurement	measurement	NOUN
ajfa-8136	92	6	,	,	PUNCT
ajfa-8136	92	7	m	m	VERB
ajfa-8136	92	8	stands	stand	VERB
ajfa-8136	92	9	for	for	ADP
ajfa-8136	92	10	monthly	monthly	ADJ
ajfa-8136	92	11	measurement	measurement	NOUN
ajfa-8136	92	12	,	,	PUNCT
ajfa-8136	92	13	min	min	PROPN
ajfa-8136	92	14	stands	stand	VERB
ajfa-8136	92	15	for	for	ADP
ajfa-8136	92	16	minute	minute	NOUN
ajfa-8136	92	17	measurement	measurement	NOUN
ajfa-8136	92	18	of	of	ADP
ajfa-8136	92	19	liquidity	liquidity	NOUN
ajfa-8136	92	20	.	.	PUNCT
ajfa-8136	93	1	appendix	appendix	NOUN
ajfa-8136	93	2	(	(	PUNCT
ajfa-8136	93	3	i	i	NOUN
ajfa-8136	93	4	)	)	PUNCT
ajfa-8136	93	5	at	at	ADP
ajfa-8136	93	6	the	the	DET
ajfa-8136	93	7	end	end	NOUN
ajfa-8136	93	8	of	of	ADP
ajfa-8136	93	9	the	the	DET
ajfa-8136	93	10	study	study	NOUN
ajfa-8136	93	11	summarises	summarise	VERB
ajfa-8136	93	12	key	key	ADJ
ajfa-8136	93	13	low	low	ADJ
ajfa-8136	93	14	frequency	frequency	NOUN
ajfa-8136	93	15	liquidity	liquidity	NOUN
ajfa-8136	93	16	proxies	proxy	NOUN
ajfa-8136	93	17	used	use	VERB
ajfa-8136	93	18	by	by	ADP
ajfa-8136	93	19	researchers	researcher	NOUN
ajfa-8136	93	20	.	.	PUNCT
ajfa-8136	94	1	3	3	X
ajfa-8136	94	2	.	.	X
ajfa-8136	94	3	determinants	determinant	NOUN
ajfa-8136	94	4	of	of	ADP
ajfa-8136	94	5	liquidity	liquidity	NOUN
ajfa-8136	94	6	in	in	ADP
ajfa-8136	94	7	order	order	NOUN
ajfa-8136	94	8	to	to	PART
ajfa-8136	94	9	understand	understand	VERB
ajfa-8136	94	10	liquidity	liquidity	NOUN
ajfa-8136	94	11	in	in	ADP
ajfa-8136	94	12	financial	financial	ADJ
ajfa-8136	94	13	markets	market	NOUN
ajfa-8136	94	14	it	it	PRON
ajfa-8136	94	15	is	be	AUX
ajfa-8136	94	16	important	important	ADJ
ajfa-8136	94	17	to	to	PART
ajfa-8136	94	18	understand	understand	VERB
ajfa-8136	94	19	its	its	PRON
ajfa-8136	94	20	determinants	determinant	NOUN
ajfa-8136	94	21	.	.	PUNCT
ajfa-8136	95	1	research	research	NOUN
ajfa-8136	95	2	in	in	ADP
ajfa-8136	95	3	area	area	NOUN
ajfa-8136	95	4	of	of	ADP
ajfa-8136	95	5	determinants	determinant	NOUN
ajfa-8136	95	6	is	be	AUX
ajfa-8136	95	7	categorised	categorise	VERB
ajfa-8136	95	8	in	in	ADP
ajfa-8136	95	9	two	two	NUM
ajfa-8136	95	10	types	type	NOUN
ajfa-8136	95	11	viz	viz	VERB
ajfa-8136	95	12	.	.	PUNCT
ajfa-8136	96	1	firm	firm	ADJ
ajfa-8136	96	2	specific	specific	ADJ
ajfa-8136	96	3	factors	factor	NOUN
ajfa-8136	96	4	and	and	CCONJ
ajfa-8136	96	5	macroeconomic	macroeconomic	ADJ
ajfa-8136	96	6	factors	factor	NOUN
ajfa-8136	96	7	.	.	PUNCT
ajfa-8136	97	1	jacoby	jacoby	PROPN
ajfa-8136	97	2	and	and	CCONJ
ajfa-8136	97	3	zheng	zheng	PROPN
ajfa-8136	97	4	(	(	PUNCT
ajfa-8136	97	5	2010	2010	NUM
ajfa-8136	97	6	)	)	PUNCT
ajfa-8136	97	7	studied	study	VERB
ajfa-8136	97	8	the	the	DET
ajfa-8136	97	9	empirical	empirical	ADJ
ajfa-8136	97	10	relationship	relationship	NOUN
ajfa-8136	97	11	between	between	ADP
ajfa-8136	97	12	ownership	ownership	NOUN
ajfa-8136	97	13	dispersion	dispersion	NOUN
ajfa-8136	97	14	and	and	CCONJ
ajfa-8136	97	15	market	market	NOUN
ajfa-8136	97	16	liquidity	liquidity	NOUN
ajfa-8136	97	17	.	.	PUNCT
ajfa-8136	98	1	the	the	DET
ajfa-8136	98	2	study	study	NOUN
ajfa-8136	98	3	found	find	VERB
ajfa-8136	98	4	that	that	SCONJ
ajfa-8136	98	5	higher	high	ADJ
ajfa-8136	98	6	ownership	ownership	NOUN
ajfa-8136	98	7	dispersion	dispersion	NOUN
ajfa-8136	98	8	improves	improve	VERB
ajfa-8136	98	9	market	market	NOUN
ajfa-8136	98	10	liquidity	liquidity	NOUN
ajfa-8136	98	11	.	.	PUNCT
ajfa-8136	99	1	it	it	PRON
ajfa-8136	99	2	is	be	AUX
ajfa-8136	99	3	also	also	ADV
ajfa-8136	99	4	found	find	VERB
ajfa-8136	99	5	a	a	DET
ajfa-8136	99	6	positive	positive	ADJ
ajfa-8136	99	7	relation	relation	NOUN
ajfa-8136	99	8	between	between	ADP
ajfa-8136	99	9	block	block	NOUN
ajfa-8136	99	10	holder	holder	NOUN
ajfa-8136	99	11	ownership	ownership	NOUN
ajfa-8136	99	12	and	and	CCONJ
ajfa-8136	99	13	quoted	quote	VERB
ajfa-8136	99	14	spread	spread	NOUN
ajfa-8136	99	15	,	,	PUNCT
ajfa-8136	99	16	effective	effective	ADJ
ajfa-8136	99	17	spread	spread	NOUN
ajfa-8136	99	18	,	,	PUNCT
ajfa-8136	99	19	and	and	CCONJ
ajfa-8136	99	20	the	the	DET
ajfa-8136	99	21	adverse	adverse	ADJ
ajfa-8136	99	22	selection	selection	NOUN
ajfa-8136	99	23	component	component	NOUN
ajfa-8136	99	24	of	of	ADP
ajfa-8136	99	25	effective	effective	ADJ
ajfa-8136	99	26	spread	spread	NOUN
ajfa-8136	99	27	.	.	PUNCT
ajfa-8136	100	1	the	the	DET
ajfa-8136	100	2	relationship	relationship	NOUN
ajfa-8136	100	3	between	between	ADP
ajfa-8136	100	4	ownership	ownership	NOUN
ajfa-8136	100	5	dispersion	dispersion	NOUN
ajfa-8136	100	6	and	and	CCONJ
ajfa-8136	100	7	market	market	NOUN
ajfa-8136	100	8	liquidity	liquidity	NOUN
ajfa-8136	100	9	still	still	ADV
ajfa-8136	100	10	exist	exist	VERB
ajfa-8136	100	11	even	even	ADV
ajfa-8136	100	12	on	on	ADP
ajfa-8136	100	13	small	small	ADJ
ajfa-8136	100	14	stocks	stock	NOUN
ajfa-8136	100	15	listed	list	VERB
ajfa-8136	100	16	on	on	ADP
ajfa-8136	100	17	nyse	nyse	PROPN
ajfa-8136	100	18	/	/	SYM
ajfa-8136	100	19	amex	amex	PROPN
ajfa-8136	100	20	.	.	PUNCT
ajfa-8136	101	1	baber	baber	PROPN
ajfa-8136	101	2	et	et	PROPN
ajfa-8136	101	3	al	al	PROPN
ajfa-8136	101	4	.	.	PROPN
ajfa-8136	102	1	(	(	PUNCT
ajfa-8136	102	2	2012	2012	NUM
ajfa-8136	102	3	)	)	PUNCT
ajfa-8136	102	4	studied	study	VERB
ajfa-8136	102	5	the	the	DET
ajfa-8136	102	6	relationship	relationship	NOUN
ajfa-8136	102	7	between	between	ADP
ajfa-8136	102	8	institutional	institutional	ADJ
ajfa-8136	102	9	investors	investor	NOUN
ajfa-8136	102	10	,	,	PUNCT
ajfa-8136	102	11	liquidity	liquidity	NOUN
ajfa-8136	102	12	,	,	PUNCT
ajfa-8136	102	13	and	and	CCONJ
ajfa-8136	102	14	liquidity	liquidity	NOUN
ajfa-8136	102	15	risk	risk	NOUN
ajfa-8136	102	16	.	.	PUNCT
ajfa-8136	103	1	they	they	PRON
ajfa-8136	103	2	find	find	VERB
ajfa-8136	103	3	that	that	SCONJ
ajfa-8136	103	4	institutional	institutional	ADJ
ajfa-8136	103	5	ownership	ownership	NOUN
ajfa-8136	103	6	generally	generally	ADV
ajfa-8136	103	7	predicts	predict	VERB
ajfa-8136	103	8	larger	large	ADJ
ajfa-8136	103	9	stock	stock	NOUN
ajfa-8136	103	10	liquidity	liquidity	NOUN
ajfa-8136	103	11	.	.	PUNCT
ajfa-8136	104	1	asian	asian	ADJ
ajfa-8136	104	2	journal	journal	PROPN
ajfa-8136	104	3	of	of	ADP
ajfa-8136	104	4	finance	finance	PROPN
ajfa-8136	104	5	&	&	CCONJ
ajfa-8136	104	6	accounting	accounting	PROPN
ajfa-8136	104	7	issn	issn	PROPN
ajfa-8136	104	8	1946	1946	NUM
ajfa-8136	104	9	-	-	PUNCT
ajfa-8136	104	10	052x	052x	NOUN
ajfa-8136	104	11	2015	2015	NUM
ajfa-8136	104	12	,	,	PUNCT
ajfa-8136	104	13	vol	vol	NOUN
ajfa-8136	104	14	.	.	PROPN
ajfa-8136	104	15	7	7	NUM
ajfa-8136	104	16	,	,	PUNCT
ajfa-8136	104	17	no	no	INTJ
ajfa-8136	104	18	.	.	NOUN
ajfa-8136	104	19	2	2	NUM
ajfa-8136	104	20	40	40	NUM
ajfa-8136	104	21	stocks	stock	NOUN
ajfa-8136	104	22	with	with	ADP
ajfa-8136	104	23	concentrated	concentrated	ADJ
ajfa-8136	104	24	institutional	institutional	ADJ
ajfa-8136	104	25	ownership	ownership	NOUN
ajfa-8136	104	26	and	and	CCONJ
ajfa-8136	104	27	especially	especially	ADV
ajfa-8136	104	28	hedge	hedge	NOUN
ajfa-8136	104	29	fund	fund	NOUN
ajfa-8136	104	30	ownership	ownership	NOUN
ajfa-8136	104	31	tend	tend	VERB
ajfa-8136	104	32	to	to	PART
ajfa-8136	104	33	have	have	VERB
ajfa-8136	104	34	low	low	ADJ
ajfa-8136	104	35	returns	return	NOUN
ajfa-8136	104	36	with	with	ADP
ajfa-8136	104	37	high	high	ADJ
ajfa-8136	104	38	market	market	NOUN
ajfa-8136	104	39	illiquidity	illiquidity	NOUN
ajfa-8136	104	40	,	,	PUNCT
ajfa-8136	104	41	suggesting	suggest	VERB
ajfa-8136	104	42	that	that	SCONJ
ajfa-8136	104	43	crowded	crowded	ADJ
ajfa-8136	104	44	trading	trading	NOUN
ajfa-8136	104	45	strategies	strategy	NOUN
ajfa-8136	104	46	have	have	VERB
ajfa-8136	104	47	a	a	DET
ajfa-8136	104	48	detrimental	detrimental	ADJ
ajfa-8136	104	49	impact	impact	NOUN
ajfa-8136	104	50	on	on	ADP
ajfa-8136	104	51	returns	return	NOUN
ajfa-8136	104	52	when	when	SCONJ
ajfa-8136	104	53	markets	market	NOUN
ajfa-8136	104	54	are	be	AUX
ajfa-8136	104	55	less	less	ADV
ajfa-8136	104	56	liquid	liquid	ADJ
ajfa-8136	104	57	.	.	PUNCT
ajfa-8136	105	1	yaghoobnezhadet	yaghoobnezhadet	PROPN
ajfa-8136	105	2	al	al	PROPN
ajfa-8136	105	3	.	.	PROPN
ajfa-8136	106	1	(	(	PUNCT
ajfa-8136	106	2	2011	2011	NUM
ajfa-8136	106	3	)	)	PUNCT
ajfa-8136	106	4	studied	study	VERB
ajfa-8136	106	5	of	of	ADP
ajfa-8136	106	6	relationship	relationship	NOUN
ajfa-8136	106	7	between	between	ADP
ajfa-8136	106	8	institutional	institutional	ADJ
ajfa-8136	106	9	ownership	ownership	NOUN
ajfa-8136	106	10	and	and	CCONJ
ajfa-8136	106	11	stock	stock	NOUN
ajfa-8136	106	12	liquidity	liquidity	NOUN
ajfa-8136	106	13	on	on	ADP
ajfa-8136	106	14	tehran	tehran	PROPN
ajfa-8136	106	15	stock	stock	PROPN
ajfa-8136	106	16	exchange	exchange	PROPN
ajfa-8136	106	17	.	.	PUNCT
ajfa-8136	107	1	the	the	DET
ajfa-8136	107	2	presence	presence	NOUN
ajfa-8136	107	3	of	of	ADP
ajfa-8136	107	4	the	the	DET
ajfa-8136	107	5	institutional	institutional	ADJ
ajfa-8136	107	6	investors	investor	NOUN
ajfa-8136	107	7	can	can	AUX
ajfa-8136	107	8	affect	affect	VERB
ajfa-8136	107	9	stock	stock	NOUN
ajfa-8136	107	10	liquidity	liquidity	NOUN
ajfa-8136	107	11	in	in	ADP
ajfa-8136	107	12	two	two	NUM
ajfa-8136	107	13	ways	way	NOUN
ajfa-8136	107	14	viz	viz	NUM
ajfa-8136	107	15	.	.	PUNCT
ajfa-8136	108	1	informational	informational	ADJ
ajfa-8136	108	2	benefits	benefit	NOUN
ajfa-8136	108	3	and	and	CCONJ
ajfa-8136	108	4	increase	increase	NOUN
ajfa-8136	108	5	of	of	ADP
ajfa-8136	108	6	liquidity	liquidity	NOUN
ajfa-8136	108	7	due	due	ADP
ajfa-8136	108	8	to	to	ADP
ajfa-8136	108	9	the	the	DET
ajfa-8136	108	10	increase	increase	NOUN
ajfa-8136	108	11	of	of	ADP
ajfa-8136	108	12	price	price	NOUN
ajfa-8136	108	13	discovery	discovery	NOUN
ajfa-8136	108	14	resulted	result	VERB
ajfa-8136	108	15	from	from	ADP
ajfa-8136	108	16	the	the	DET
ajfa-8136	108	17	competition	competition	NOUN
ajfa-8136	108	18	between	between	ADP
ajfa-8136	108	19	institutional	institutional	ADJ
ajfa-8136	108	20	investors	investor	NOUN
ajfa-8136	108	21	(	(	PUNCT
ajfa-8136	108	22	effectiveness	effectiveness	NOUN
ajfa-8136	108	23	of	of	ADP
ajfa-8136	108	24	the	the	DET
ajfa-8136	108	25	information	information	NOUN
ajfa-8136	108	26	)	)	PUNCT
ajfa-8136	108	27	.	.	PUNCT
ajfa-8136	109	1	næs	næs	PROPN
ajfa-8136	109	2	(	(	PUNCT
ajfa-8136	109	3	2004	2004	NUM
ajfa-8136	109	4	)	)	PUNCT
ajfa-8136	109	5	takes	take	VERB
ajfa-8136	109	6	account	account	NOUN
ajfa-8136	109	7	of	of	ADP
ajfa-8136	109	8	the	the	DET
ajfa-8136	109	9	relationship	relationship	NOUN
ajfa-8136	109	10	between	between	ADP
ajfa-8136	109	11	market	market	NOUN
ajfa-8136	109	12	liquidity	liquidity	NOUN
ajfa-8136	109	13	and	and	CCONJ
ajfa-8136	109	14	company	company	NOUN
ajfa-8136	109	15	ownership	ownership	NOUN
ajfa-8136	109	16	on	on	ADP
ajfa-8136	109	17	norway	norway	PROPN
ajfa-8136	109	18	stock	stock	PROPN
ajfa-8136	109	19	exchange	exchange	NOUN
ajfa-8136	109	20	using	use	VERB
ajfa-8136	109	21	a	a	DET
ajfa-8136	109	22	panel	panel	NOUN
ajfa-8136	109	23	regression	regression	NOUN
ajfa-8136	109	24	approach	approach	NOUN
ajfa-8136	109	25	.	.	PUNCT
ajfa-8136	110	1	the	the	DET
ajfa-8136	110	2	study	study	NOUN
ajfa-8136	110	3	reported	report	VERB
ajfa-8136	110	4	owner	owner	NOUN
ajfa-8136	110	5	concentration	concentration	NOUN
ajfa-8136	110	6	to	to	PART
ajfa-8136	110	7	be	be	AUX
ajfa-8136	110	8	negatively	negatively	ADV
ajfa-8136	110	9	related	relate	VERB
ajfa-8136	110	10	to	to	ADP
ajfa-8136	110	11	spreads	spread	NOUN
ajfa-8136	110	12	and	and	CCONJ
ajfa-8136	110	13	information	information	NOUN
ajfa-8136	110	14	costs	cost	NOUN
ajfa-8136	110	15	.	.	PUNCT
ajfa-8136	111	1	no	no	DET
ajfa-8136	111	2	strong	strong	ADJ
ajfa-8136	111	3	relationship	relationship	NOUN
ajfa-8136	111	4	can	can	AUX
ajfa-8136	111	5	be	be	AUX
ajfa-8136	111	6	documented	document	VERB
ajfa-8136	111	7	between	between	ADP
ajfa-8136	111	8	liquidity	liquidity	NOUN
ajfa-8136	111	9	and	and	CCONJ
ajfa-8136	111	10	institutional	institutional	ADJ
ajfa-8136	111	11	ownership	ownership	NOUN
ajfa-8136	111	12	.	.	PUNCT
ajfa-8136	112	1	sharma	sharma	PROPN
ajfa-8136	112	2	(	(	PUNCT
ajfa-8136	112	3	2005	2005	NUM
ajfa-8136	112	4	)	)	PUNCT
ajfa-8136	112	5	studied	study	VERB
ajfa-8136	112	6	ownership	ownership	NOUN
ajfa-8136	112	7	structure	structure	NOUN
ajfa-8136	112	8	and	and	CCONJ
ajfa-8136	112	9	stock	stock	NOUN
ajfa-8136	112	10	liquidity	liquidity	NOUN
ajfa-8136	112	11	on	on	ADP
ajfa-8136	112	12	indian	indian	ADJ
ajfa-8136	112	13	stock	stock	NOUN
ajfa-8136	112	14	market	market	NOUN
ajfa-8136	112	15	and	and	CCONJ
ajfa-8136	112	16	found	find	VERB
ajfa-8136	112	17	that	that	SCONJ
ajfa-8136	112	18	the	the	DET
ajfa-8136	112	19	promoters	promoter	NOUN
ajfa-8136	112	20	’	’	PART
ajfa-8136	112	21	shareholding	shareholding	NOUN
ajfa-8136	112	22	is	be	AUX
ajfa-8136	112	23	not	not	PART
ajfa-8136	112	24	a	a	DET
ajfa-8136	112	25	statistically	statistically	ADV
ajfa-8136	112	26	significant	significant	ADJ
ajfa-8136	112	27	variable	variable	NOUN
ajfa-8136	112	28	in	in	ADP
ajfa-8136	112	29	explaining	explain	VERB
ajfa-8136	112	30	the	the	DET
ajfa-8136	112	31	determinants	determinant	NOUN
ajfa-8136	112	32	of	of	ADP
ajfa-8136	112	33	liquidity	liquidity	NOUN
ajfa-8136	112	34	in	in	ADP
ajfa-8136	112	35	both	both	CCONJ
ajfa-8136	112	36	nifty	nifty	ADJ
ajfa-8136	112	37	stocks	stock	NOUN
ajfa-8136	112	38	and	and	CCONJ
ajfa-8136	112	39	nifty	nifty	ADJ
ajfa-8136	112	40	junior	junior	ADJ
ajfa-8136	112	41	stocks	stock	NOUN
ajfa-8136	112	42	though	though	SCONJ
ajfa-8136	112	43	it	it	PRON
ajfa-8136	112	44	is	be	AUX
ajfa-8136	112	45	contrary	contrary	ADJ
ajfa-8136	112	46	to	to	ADP
ajfa-8136	112	47	the	the	DET
ajfa-8136	112	48	a	a	DET
ajfa-8136	112	49	priori	priori	ADJ
ajfa-8136	112	50	relation	relation	NOUN
ajfa-8136	112	51	proposed	propose	VERB
ajfa-8136	112	52	by	by	ADP
ajfa-8136	112	53	the	the	DET
ajfa-8136	112	54	market	market	NOUN
ajfa-8136	112	55	microstructure	microstructure	NOUN
ajfa-8136	112	56	literature	literature	NOUN
ajfa-8136	112	57	.	.	PUNCT
ajfa-8136	113	1	keim	keim	PROPN
ajfa-8136	113	2	and	and	CCONJ
ajfa-8136	113	3	blume	blume	PROPN
ajfa-8136	113	4	(	(	PUNCT
ajfa-8136	113	5	2012	2012	NUM
ajfa-8136	113	6	)	)	PUNCT
ajfa-8136	113	7	provide	provide	VERB
ajfa-8136	113	8	evidence	evidence	NOUN
ajfa-8136	113	9	that	that	SCONJ
ajfa-8136	113	10	institutional	institutional	ADJ
ajfa-8136	113	11	participation	participation	NOUN
ajfa-8136	113	12	in	in	ADP
ajfa-8136	113	13	the	the	DET
ajfa-8136	113	14	u.s	u.s	PROPN
ajfa-8136	113	15	.	.	PROPN
ajfa-8136	113	16	stock	stock	NOUN
ajfa-8136	113	17	market	market	NOUN
ajfa-8136	113	18	explains	explain	VERB
ajfa-8136	113	19	the	the	DET
ajfa-8136	113	20	cross	cross	ADJ
ajfa-8136	113	21	-	-	ADJ
ajfa-8136	113	22	sectional	sectional	ADJ
ajfa-8136	113	23	variation	variation	NOUN
ajfa-8136	113	24	in	in	ADP
ajfa-8136	113	25	stock	stock	NOUN
ajfa-8136	113	26	market	market	NOUN
ajfa-8136	113	27	illiquidity	illiquidity	NOUN
ajfa-8136	113	28	.	.	PUNCT
ajfa-8136	114	1	kim	kim	PROPN
ajfa-8136	114	2	and	and	CCONJ
ajfa-8136	114	3	verrecchia	verrecchia	PROPN
ajfa-8136	114	4	(	(	PUNCT
ajfa-8136	114	5	1994	1994	NUM
ajfa-8136	114	6	)	)	PUNCT
ajfa-8136	114	7	studied	study	VERB
ajfa-8136	114	8	the	the	DET
ajfa-8136	114	9	relationship	relationship	NOUN
ajfa-8136	114	10	between	between	ADP
ajfa-8136	114	11	earnings	earning	NOUN
ajfa-8136	114	12	announcements	announcement	NOUN
ajfa-8136	114	13	,	,	PUNCT
ajfa-8136	114	14	trading	trading	NOUN
ajfa-8136	114	15	volume	volume	NOUN
ajfa-8136	114	16	and	and	CCONJ
ajfa-8136	114	17	liquidity	liquidity	NOUN
ajfa-8136	114	18	and	and	CCONJ
ajfa-8136	114	19	found	find	VERB
ajfa-8136	114	20	that	that	SCONJ
ajfa-8136	114	21	earnings	earning	NOUN
ajfa-8136	114	22	announcements	announcement	NOUN
ajfa-8136	114	23	increase	increase	VERB
ajfa-8136	114	24	the	the	DET
ajfa-8136	114	25	information	information	NOUN
ajfa-8136	114	26	asymmetry	asymmetry	NOUN
ajfa-8136	114	27	,	,	PUNCT
ajfa-8136	114	28	which	which	PRON
ajfa-8136	114	29	in	in	ADP
ajfa-8136	114	30	turn	turn	NOUN
ajfa-8136	114	31	leads	lead	VERB
ajfa-8136	114	32	to	to	ADP
ajfa-8136	114	33	reduced	reduce	VERB
ajfa-8136	114	34	liquidity	liquidity	NOUN
ajfa-8136	114	35	in	in	ADP
ajfa-8136	114	36	an	an	DET
ajfa-8136	114	37	imperfect	imperfect	ADJ
ajfa-8136	114	38	market	market	NOUN
ajfa-8136	114	39	.	.	PUNCT
ajfa-8136	115	1	hendershott	hendershott	PROPN
ajfa-8136	115	2	,	,	PUNCT
ajfa-8136	115	3	jones	jones	PROPN
ajfa-8136	115	4	and	and	CCONJ
ajfa-8136	115	5	menkveld	menkveld	PROPN
ajfa-8136	115	6	(	(	PUNCT
ajfa-8136	115	7	2011	2011	NUM
ajfa-8136	115	8	)	)	PUNCT
ajfa-8136	115	9	explained	explain	VERB
ajfa-8136	115	10	the	the	DET
ajfa-8136	115	11	empirical	empirical	ADJ
ajfa-8136	115	12	relationship	relationship	NOUN
ajfa-8136	115	13	between	between	ADP
ajfa-8136	115	14	algorithmic	algorithmic	ADJ
ajfa-8136	115	15	trading	trading	NOUN
ajfa-8136	115	16	(	(	PUNCT
ajfa-8136	115	17	at	at	ADP
ajfa-8136	115	18	)	)	PUNCT
ajfa-8136	115	19	and	and	CCONJ
ajfa-8136	115	20	liquidity	liquidity	NOUN
ajfa-8136	115	21	.	.	PUNCT
ajfa-8136	116	1	auto	auto	NOUN
ajfa-8136	116	2	quoting	quote	VERB
ajfa-8136	116	3	on	on	ADP
ajfa-8136	116	4	nyse	nyse	PROPN
ajfa-8136	116	5	is	be	AUX
ajfa-8136	116	6	used	use	VERB
ajfa-8136	116	7	as	as	ADP
ajfa-8136	116	8	an	an	DET
ajfa-8136	116	9	instrumental	instrumental	ADJ
ajfa-8136	116	10	variable	variable	NOUN
ajfa-8136	116	11	for	for	ADP
ajfa-8136	116	12	at	at	ADP
ajfa-8136	116	13	.	.	PUNCT
ajfa-8136	117	1	it	it	PRON
ajfa-8136	117	2	reduces	reduce	VERB
ajfa-8136	117	3	the	the	DET
ajfa-8136	117	4	trading	trading	NOUN
ajfa-8136	117	5	costs	cost	NOUN
ajfa-8136	117	6	,	,	PUNCT
ajfa-8136	117	7	trading	trading	NOUN
ajfa-8136	117	8	frictions	friction	NOUN
ajfa-8136	117	9	,	,	PUNCT
ajfa-8136	117	10	makes	make	VERB
ajfa-8136	117	11	risk	risk	NOUN
ajfa-8136	117	12	sharing	share	VERB
ajfa-8136	117	13	more	more	ADV
ajfa-8136	117	14	efficient	efficient	ADJ
ajfa-8136	117	15	,	,	PUNCT
ajfa-8136	117	16	in	in	ADP
ajfa-8136	117	17	-	-	PUNCT
ajfa-8136	117	18	formativeness	formativeness	NOUN
ajfa-8136	117	19	of	of	ADP
ajfa-8136	117	20	the	the	DET
ajfa-8136	117	21	quotes	quote	NOUN
ajfa-8136	117	22	increases	increase	VERB
ajfa-8136	117	23	and	and	CCONJ
ajfa-8136	117	24	in	in	ADP
ajfa-8136	117	25	turn	turn	NOUN
ajfa-8136	117	26	it	it	PRON
ajfa-8136	117	27	enhances	enhance	VERB
ajfa-8136	117	28	liquidity	liquidity	NOUN
ajfa-8136	117	29	.	.	PUNCT
ajfa-8136	118	1	kumar	kumar	PROPN
ajfa-8136	118	2	et	et	PROPN
ajfa-8136	118	3	al	al	PROPN
ajfa-8136	118	4	.	.	PROPN
ajfa-8136	119	1	(	(	PUNCT
ajfa-8136	119	2	2001	2001	NUM
ajfa-8136	119	3	)	)	PUNCT
ajfa-8136	119	4	studied	study	VERB
ajfa-8136	119	5	the	the	DET
ajfa-8136	119	6	impact	impact	NOUN
ajfa-8136	119	7	of	of	ADP
ajfa-8136	119	8	international	international	ADJ
ajfa-8136	119	9	listings	listing	NOUN
ajfa-8136	119	10	like	like	ADP
ajfa-8136	119	11	adr	adr	PROPN
ajfa-8136	119	12	and	and	CCONJ
ajfa-8136	119	13	gdr	gdr	PROPN
ajfa-8136	119	14	on	on	ADP
ajfa-8136	119	15	liquidity	liquidity	NOUN
ajfa-8136	119	16	of	of	ADP
ajfa-8136	119	17	indian	indian	PROPN
ajfa-8136	119	18	firm	firm	NOUN
ajfa-8136	119	19	’s	’s	PART
ajfa-8136	119	20	underlying	underlying	ADJ
ajfa-8136	119	21	domestic	domestic	ADJ
ajfa-8136	119	22	shares	share	NOUN
ajfa-8136	119	23	.	.	PUNCT
ajfa-8136	120	1	gdr	gdr	ADJ
ajfa-8136	120	2	listings	listing	NOUN
ajfa-8136	120	3	are	be	AUX
ajfa-8136	120	4	associated	associate	VERB
ajfa-8136	120	5	with	with	ADP
ajfa-8136	120	6	enhanced	enhanced	ADJ
ajfa-8136	120	7	liquidity	liquidity	NOUN
ajfa-8136	120	8	while	while	SCONJ
ajfa-8136	120	9	adr	adr	PROPN
ajfa-8136	120	10	listings	listing	NOUN
ajfa-8136	120	11	(	(	PUNCT
ajfa-8136	120	12	in	in	ADP
ajfa-8136	120	13	most	most	ADJ
ajfa-8136	120	14	cases	case	NOUN
ajfa-8136	120	15	)	)	PUNCT
ajfa-8136	120	16	are	be	AUX
ajfa-8136	120	17	associated	associate	VERB
ajfa-8136	120	18	with	with	ADP
ajfa-8136	120	19	reduced	reduced	ADJ
ajfa-8136	120	20	liquidity	liquidity	NOUN
ajfa-8136	120	21	of	of	ADP
ajfa-8136	120	22	the	the	DET
ajfa-8136	120	23	shares	share	NOUN
ajfa-8136	120	24	of	of	ADP
ajfa-8136	120	25	domestic	domestic	ADJ
ajfa-8136	120	26	firm	firm	NOUN
ajfa-8136	120	27	.	.	PUNCT
ajfa-8136	121	1	chordiaet	chordiaet	PROPN
ajfa-8136	121	2	al	al	PROPN
ajfa-8136	121	3	.	.	PROPN
ajfa-8136	122	1	(	(	PUNCT
ajfa-8136	122	2	2001	2001	NUM
ajfa-8136	122	3	)	)	PUNCT
ajfa-8136	122	4	studied	study	VERB
ajfa-8136	122	5	the	the	DET
ajfa-8136	122	6	relationship	relationship	NOUN
ajfa-8136	122	7	among	among	ADP
ajfa-8136	122	8	liquidity	liquidity	NOUN
ajfa-8136	122	9	,	,	PUNCT
ajfa-8136	122	10	trading	trading	NOUN
ajfa-8136	122	11	activity	activity	NOUN
ajfa-8136	122	12	,	,	PUNCT
ajfa-8136	122	13	market	market	NOUN
ajfa-8136	122	14	return	return	NOUN
ajfa-8136	122	15	and	and	CCONJ
ajfa-8136	122	16	interest	interest	NOUN
ajfa-8136	122	17	rate	rate	NOUN
ajfa-8136	122	18	of	of	ADP
ajfa-8136	122	19	nyse	nyse	PROPN
ajfa-8136	122	20	listed	list	VERB
ajfa-8136	122	21	stocks	stock	NOUN
ajfa-8136	122	22	.	.	PUNCT
ajfa-8136	123	1	liquidity	liquidity	NOUN
ajfa-8136	123	2	and	and	CCONJ
ajfa-8136	123	3	trading	trading	NOUN
ajfa-8136	123	4	activity	activity	NOUN
ajfa-8136	123	5	is	be	AUX
ajfa-8136	123	6	influenced	influence	VERB
ajfa-8136	123	7	by	by	ADP
ajfa-8136	123	8	market	market	NOUN
ajfa-8136	123	9	returns	return	NOUN
ajfa-8136	123	10	,	,	PUNCT
ajfa-8136	123	11	its	its	PRON
ajfa-8136	123	12	volatility	volatility	NOUN
ajfa-8136	123	13	,	,	PUNCT
ajfa-8136	123	14	short	short	ADJ
ajfa-8136	123	15	-	-	PUNCT
ajfa-8136	123	16	term	term	NOUN
ajfa-8136	123	17	and	and	CCONJ
ajfa-8136	123	18	long	long	ADJ
ajfa-8136	123	19	-	-	PUNCT
ajfa-8136	123	20	term	term	NOUN
ajfa-8136	123	21	interest	interest	NOUN
ajfa-8136	123	22	rates	rate	NOUN
ajfa-8136	123	23	.	.	PUNCT
ajfa-8136	124	1	macroeconomic	macroeconomic	ADJ
ajfa-8136	124	2	news	news	PROPN
ajfa-8136	124	3	like	like	ADP
ajfa-8136	124	4	gdp	gdp	NOUN
ajfa-8136	124	5	,	,	PUNCT
ajfa-8136	124	6	unemployment	unemployment	NOUN
ajfa-8136	124	7	rate	rate	NOUN
ajfa-8136	124	8	also	also	ADV
ajfa-8136	124	9	impact	impact	VERB
ajfa-8136	124	10	liquidity	liquidity	NOUN
ajfa-8136	124	11	at	at	ADP
ajfa-8136	124	12	the	the	DET
ajfa-8136	124	13	time	time	NOUN
ajfa-8136	124	14	of	of	ADP
ajfa-8136	124	15	announcements	announcement	NOUN
ajfa-8136	124	16	.	.	PUNCT
ajfa-8136	125	1	ding	de	VERB
ajfa-8136	125	2	et	et	PROPN
ajfa-8136	125	3	al	al	PROPN
ajfa-8136	125	4	.	.	PROPN
ajfa-8136	126	1	(	(	PUNCT
ajfa-8136	126	2	2013	2013	NUM
ajfa-8136	126	3	)	)	PUNCT
ajfa-8136	126	4	empirically	empirically	ADV
ajfa-8136	126	5	studied	study	VERB
ajfa-8136	126	6	the	the	DET
ajfa-8136	126	7	relationship	relationship	NOUN
ajfa-8136	126	8	between	between	ADP
ajfa-8136	126	9	foreign	foreign	ADJ
ajfa-8136	126	10	institutional	institutional	ADJ
ajfa-8136	126	11	investors	investor	NOUN
ajfa-8136	126	12	and	and	CCONJ
ajfa-8136	126	13	stock	stock	NOUN
ajfa-8136	126	14	market	market	NOUN
ajfa-8136	126	15	liquidity	liquidity	NOUN
ajfa-8136	126	16	on	on	ADP
ajfa-8136	126	17	shanghai	shanghai	PROPN
ajfa-8136	126	18	and	and	CCONJ
ajfa-8136	126	19	shenzhen	shenzhen	PROPN
ajfa-8136	126	20	stock	stock	PROPN
ajfa-8136	126	21	exchanges	exchange	NOUN
ajfa-8136	126	22	.	.	PUNCT
ajfa-8136	127	1	the	the	DET
ajfa-8136	127	2	results	result	NOUN
ajfa-8136	127	3	indicated	indicate	VERB
ajfa-8136	127	4	that	that	SCONJ
ajfa-8136	127	5	with	with	ADP
ajfa-8136	127	6	the	the	DET
ajfa-8136	127	7	increased	increase	VERB
ajfa-8136	127	8	participation	participation	NOUN
ajfa-8136	127	9	of	of	ADP
ajfa-8136	127	10	foreign	foreign	ADJ
ajfa-8136	127	11	institutions	institution	NOUN
ajfa-8136	127	12	,	,	PUNCT
ajfa-8136	127	13	stock	stock	NOUN
ajfa-8136	127	14	market	market	NOUN
ajfa-8136	127	15	liquidity	liquidity	NOUN
ajfa-8136	127	16	improves	improve	VERB
ajfa-8136	127	17	.	.	PUNCT
ajfa-8136	128	1	chordia	chordia	NOUN
ajfa-8136	128	2	et	et	PROPN
ajfa-8136	128	3	al	al	PROPN
ajfa-8136	128	4	.	.	PROPN
ajfa-8136	129	1	(	(	PUNCT
ajfa-8136	129	2	2005	2005	NUM
ajfa-8136	129	3	)	)	PUNCT
ajfa-8136	129	4	reported	report	VERB
ajfa-8136	129	5	modest	modest	ADJ
ajfa-8136	129	6	predictive	predictive	ADJ
ajfa-8136	129	7	power	power	NOUN
ajfa-8136	129	8	of	of	ADP
ajfa-8136	129	9	monetary	monetary	ADJ
ajfa-8136	129	10	policy	policy	NOUN
ajfa-8136	129	11	for	for	ADP
ajfa-8136	129	12	stock	stock	NOUN
ajfa-8136	129	13	market	market	NOUN
ajfa-8136	129	14	liquidity	liquidity	NOUN
ajfa-8136	129	15	.	.	PUNCT
ajfa-8136	130	1	however	however	ADV
ajfa-8136	130	2	,	,	PUNCT
ajfa-8136	130	3	goyenko	goyenko	ADJ
ajfa-8136	130	4	and	and	CCONJ
ajfa-8136	130	5	ukhov	ukhov	PROPN
ajfa-8136	130	6	(	(	PUNCT
ajfa-8136	130	7	2009	2009	NUM
ajfa-8136	130	8	)	)	PUNCT
ajfa-8136	130	9	gives	give	VERB
ajfa-8136	130	10	strong	strong	ADJ
ajfa-8136	130	11	evidence	evidence	NOUN
ajfa-8136	130	12	that	that	SCONJ
ajfa-8136	130	13	monetary	monetary	ADJ
ajfa-8136	130	14	policy	policy	NOUN
ajfa-8136	130	15	asian	asian	ADJ
ajfa-8136	130	16	journal	journal	NOUN
ajfa-8136	130	17	of	of	ADP
ajfa-8136	130	18	finance	finance	PROPN
ajfa-8136	130	19	&	&	CCONJ
ajfa-8136	130	20	accounting	accounting	PROPN
ajfa-8136	130	21	issn	issn	PROPN
ajfa-8136	130	22	1946	1946	NUM
ajfa-8136	130	23	-	-	PUNCT
ajfa-8136	130	24	052x	052x	NOUN
ajfa-8136	130	25	2015	2015	NUM
ajfa-8136	130	26	,	,	PUNCT
ajfa-8136	130	27	vol	vol	NOUN
ajfa-8136	130	28	.	.	PROPN
ajfa-8136	130	29	7	7	NUM
ajfa-8136	130	30	,	,	PUNCT
ajfa-8136	130	31	no	no	INTJ
ajfa-8136	130	32	.	.	NOUN
ajfa-8136	130	33	2	2	NUM
ajfa-8136	130	34	41	41	NUM
ajfa-8136	130	35	predicts	predict	VERB
ajfa-8136	130	36	liquidity	liquidity	NOUN
ajfa-8136	130	37	of	of	ADP
ajfa-8136	130	38	the	the	DET
ajfa-8136	130	39	stocks	stock	NOUN
ajfa-8136	130	40	listed	list	VERB
ajfa-8136	130	41	on	on	ADP
ajfa-8136	130	42	u.s	u.s	PROPN
ajfa-8136	130	43	.	.	PROPN
ajfa-8136	130	44	markets	market	NOUN
ajfa-8136	130	45	for	for	ADP
ajfa-8136	130	46	the	the	DET
ajfa-8136	130	47	period	period	NOUN
ajfa-8136	130	48	1962	1962	NUM
ajfa-8136	130	49	to	to	ADP
ajfa-8136	130	50	2003	2003	NUM
ajfa-8136	130	51	.	.	PUNCT
ajfa-8136	131	1	söderberg	söderberg	PROPN
ajfa-8136	131	2	(	(	PUNCT
ajfa-8136	131	3	2008	2008	NUM
ajfa-8136	131	4	)	)	PUNCT
ajfa-8136	131	5	provides	provide	VERB
ajfa-8136	131	6	mixed	mixed	ADJ
ajfa-8136	131	7	evidence	evidence	NOUN
ajfa-8136	131	8	by	by	ADP
ajfa-8136	131	9	studying	study	VERB
ajfa-8136	131	10	the	the	DET
ajfa-8136	131	11	influence	influence	NOUN
ajfa-8136	131	12	of	of	ADP
ajfa-8136	131	13	14	14	NUM
ajfa-8136	131	14	macroeconomic	macroeconomic	ADJ
ajfa-8136	131	15	variables	variable	NOUN
ajfa-8136	131	16	on	on	ADP
ajfa-8136	131	17	the	the	DET
ajfa-8136	131	18	market	market	NOUN
ajfa-8136	131	19	liquidity	liquidity	NOUN
ajfa-8136	131	20	of	of	ADP
ajfa-8136	131	21	three	three	NUM
ajfa-8136	131	22	scandinavian	scandinavian	ADJ
ajfa-8136	131	23	stock	stock	NOUN
ajfa-8136	131	24	exchanges	exchange	NOUN
ajfa-8136	131	25	.	.	PUNCT
ajfa-8136	132	1	table	table	NOUN
ajfa-8136	132	2	2	2	NUM
ajfa-8136	132	3	.	.	PUNCT
ajfa-8136	133	1	summary	summary	NOUN
ajfa-8136	133	2	of	of	ADP
ajfa-8136	133	3	empirical	empirical	ADJ
ajfa-8136	133	4	studies	study	NOUN
ajfa-8136	133	5	on	on	ADP
ajfa-8136	133	6	liquidity	liquidity	NOUN
ajfa-8136	133	7	determinants	determinant	NOUN
ajfa-8136	133	8	author/	author/	NUM
ajfa-8136	133	9	’s	’s	PART
ajfa-8136	133	10	(	(	PUNCT
ajfa-8136	133	11	year	year	NOUN
ajfa-8136	133	12	)	)	PUNCT
ajfa-8136	133	13	market	market	NOUN
ajfa-8136	133	14	area	area	NOUN
ajfa-8136	133	15	remarks	remark	VERB
ajfa-8136	133	16	naes	naes	PROPN
ajfa-8136	133	17	(	(	PUNCT
ajfa-8136	133	18	2004	2004	NUM
ajfa-8136	133	19	)	)	PUNCT
ajfa-8136	133	20	norway	norway	PROPN
ajfa-8136	133	21	stock	stock	PROPN
ajfa-8136	133	22	exchange	exchange	PROPN
ajfa-8136	133	23	firm	firm	NOUN
ajfa-8136	133	24	specific	specific	ADJ
ajfa-8136	133	25	granger	granger	NOUN
ajfa-8136	133	26	causality	causality	NOUN
ajfa-8136	133	27	fails	fail	VERB
ajfa-8136	133	28	to	to	PART
ajfa-8136	133	29	explain	explain	VERB
ajfa-8136	133	30	relationship	relationship	NOUN
ajfa-8136	133	31	between	between	ADP
ajfa-8136	133	32	market	market	NOUN
ajfa-8136	133	33	liquidity	liquidity	NOUN
ajfa-8136	133	34	and	and	CCONJ
ajfa-8136	133	35	company	company	NOUN
ajfa-8136	133	36	ownership	ownership	NOUN
ajfa-8136	133	37	soderberg	soderberg	NOUN
ajfa-8136	133	38	(	(	PUNCT
ajfa-8136	133	39	2008	2008	NUM
ajfa-8136	133	40	)	)	PUNCT
ajfa-8136	133	41	scandinavian	scandinavian	ADJ
ajfa-8136	133	42	stock	stock	NOUN
ajfa-8136	133	43	exchanges	exchange	NOUN
ajfa-8136	133	44	macroeconomic	macroeconomic	ADJ
ajfa-8136	133	45	fourteen	fourteen	NUM
ajfa-8136	133	46	macroeconomic	macroeconomic	ADJ
ajfa-8136	133	47	variables	variable	NOUN
ajfa-8136	133	48	are	be	AUX
ajfa-8136	133	49	taken	take	VERB
ajfa-8136	133	50	as	as	ADP
ajfa-8136	133	51	repressors	repressor	NOUN
ajfa-8136	133	52	against	against	ADP
ajfa-8136	133	53	market	market	NOUN
ajfa-8136	133	54	liquidity	liquidity	NOUN
ajfa-8136	133	55	agarwal	agarwal	PROPN
ajfa-8136	133	56	(	(	PUNCT
ajfa-8136	133	57	2009	2009	NUM
ajfa-8136	133	58	)	)	PUNCT
ajfa-8136	133	59	usanyse	usanyse	PROPN
ajfa-8136	133	60	,	,	PUNCT
ajfa-8136	133	61	amex	amex	PROPN
ajfa-8136	133	62	firm	firm	NOUN
ajfa-8136	133	63	specific	specific	ADJ
ajfa-8136	133	64	institutional	institutional	ADJ
ajfa-8136	133	65	ownership	ownership	NOUN
ajfa-8136	133	66	(	(	PUNCT
ajfa-8136	133	67	granger	granger	NOUN
ajfa-8136	133	68	)	)	PUNCT
ajfa-8136	133	69	causes	cause	VERB
ajfa-8136	133	70	liquidity	liquidity	NOUN
ajfa-8136	133	71	peter	peter	PROPN
ajfa-8136	133	72	et	et	PROPN
ajfa-8136	133	73	al	al	PROPN
ajfa-8136	133	74	.	.	PROPN
ajfa-8136	134	1	(	(	PUNCT
ajfa-8136	134	2	2011	2011	NUM
ajfa-8136	134	3	)	)	PUNCT
ajfa-8136	134	4	euro	euro	NOUN
ajfa-8136	134	5	zone	zone	NOUN
ajfa-8136	134	6	stock	stock	NOUN
ajfa-8136	134	7	exchanges	exchange	NOUN
ajfa-8136	134	8	macroeconomic	macroeconomic	ADJ
ajfa-8136	134	9	stock	stock	NOUN
ajfa-8136	134	10	market	market	NOUN
ajfa-8136	134	11	liquidityis	liquidityis	NOUN
ajfa-8136	134	12	increased	increase	VERB
ajfa-8136	134	13	by	by	ADP
ajfa-8136	134	14	expansionary	expansionary	ADJ
ajfa-8136	134	15	monetary	monetary	ADJ
ajfa-8136	134	16	policy	policy	NOUN
ajfa-8136	134	17	ding	ding	NOUN
ajfa-8136	134	18	et	et	PROPN
ajfa-8136	134	19	al	al	PROPN
ajfa-8136	134	20	.	.	PROPN
ajfa-8136	135	1	(	(	PUNCT
ajfa-8136	135	2	2013	2013	NUM
ajfa-8136	135	3	)	)	PUNCT
ajfa-8136	135	4	chinashe	chinashe	PROPN
ajfa-8136	135	5	,	,	PUNCT
ajfa-8136	135	6	sze	sze	PROPN
ajfa-8136	135	7	firm	firm	PROPN
ajfa-8136	135	8	specific	specific	ADJ
ajfa-8136	135	9	relationship	relationship	NOUN
ajfa-8136	135	10	between	between	ADP
ajfa-8136	135	11	foreign	foreign	ADJ
ajfa-8136	135	12	institutional	institutional	ADJ
ajfa-8136	135	13	investors	investor	NOUN
ajfa-8136	135	14	and	and	CCONJ
ajfa-8136	135	15	liquidity	liquidity	NOUN
ajfa-8136	135	16	source	source	NOUN
ajfa-8136	135	17	:	:	PUNCT
ajfa-8136	135	18	compiled	compile	VERB
ajfa-8136	135	19	by	by	ADP
ajfa-8136	135	20	authors	author	NOUN
ajfa-8136	135	21	from	from	ADP
ajfa-8136	135	22	cited	cite	VERB
ajfa-8136	135	23	research	research	NOUN
ajfa-8136	135	24	articles	article	NOUN
ajfa-8136	135	25	4	4	NUM
ajfa-8136	135	26	.	.	PUNCT
ajfa-8136	135	27	market	market	NOUN
ajfa-8136	135	28	microstructures	microstructure	NOUN
ajfa-8136	135	29	market	market	NOUN
ajfa-8136	135	30	microstructures	microstructure	NOUN
ajfa-8136	135	31	in	in	ADP
ajfa-8136	135	32	stock	stock	NOUN
ajfa-8136	135	33	markets	market	NOUN
ajfa-8136	135	34	have	have	AUX
ajfa-8136	135	35	attracted	attract	VERB
ajfa-8136	135	36	much	much	ADJ
ajfa-8136	135	37	research	research	NOUN
ajfa-8136	135	38	attention	attention	NOUN
ajfa-8136	135	39	in	in	ADP
ajfa-8136	135	40	recent	recent	ADJ
ajfa-8136	135	41	years	year	NOUN
ajfa-8136	135	42	.	.	PUNCT
ajfa-8136	136	1	this	this	DET
ajfa-8136	136	2	importance	importance	NOUN
ajfa-8136	136	3	is	be	AUX
ajfa-8136	136	4	due	due	ADJ
ajfa-8136	136	5	to	to	ADP
ajfa-8136	136	6	the	the	DET
ajfa-8136	136	7	existence	existence	NOUN
ajfa-8136	136	8	of	of	ADP
ajfa-8136	136	9	intraday	intraday	NOUN
ajfa-8136	136	10	regularities	regularity	NOUN
ajfa-8136	136	11	in	in	ADP
ajfa-8136	136	12	stock	stock	NOUN
ajfa-8136	136	13	market	market	NOUN
ajfa-8136	136	14	that	that	PRON
ajfa-8136	136	15	contests	contest	VERB
ajfa-8136	136	16	the	the	DET
ajfa-8136	136	17	efficient	efficient	ADJ
ajfa-8136	136	18	markets	market	NOUN
ajfa-8136	136	19	hypothesis	hypothesis	NOUN
ajfa-8136	136	20	.	.	PUNCT
ajfa-8136	137	1	the	the	DET
ajfa-8136	137	2	researchers	researcher	NOUN
ajfa-8136	137	3	are	be	AUX
ajfa-8136	137	4	now	now	ADV
ajfa-8136	137	5	focusing	focus	VERB
ajfa-8136	137	6	on	on	ADP
ajfa-8136	137	7	the	the	DET
ajfa-8136	137	8	causes	cause	NOUN
ajfa-8136	137	9	generating	generate	VERB
ajfa-8136	137	10	this	this	DET
ajfa-8136	137	11	behaviour	behaviour	NOUN
ajfa-8136	137	12	in	in	ADP
ajfa-8136	137	13	order	order	NOUN
ajfa-8136	137	14	to	to	PART
ajfa-8136	137	15	analyze	analyze	VERB
ajfa-8136	137	16	this	this	DET
ajfa-8136	137	17	anomaly	anomaly	NOUN
ajfa-8136	137	18	.	.	PUNCT
ajfa-8136	138	1	the	the	DET
ajfa-8136	138	2	variations	variation	NOUN
ajfa-8136	138	3	in	in	ADP
ajfa-8136	138	4	stock	stock	NOUN
ajfa-8136	138	5	liquidity	liquidity	NOUN
ajfa-8136	138	6	along	along	ADP
ajfa-8136	138	7	with	with	ADP
ajfa-8136	138	8	the	the	DET
ajfa-8136	138	9	costs	cost	NOUN
ajfa-8136	138	10	involved	involve	VERB
ajfa-8136	138	11	in	in	ADP
ajfa-8136	138	12	trading	trading	NOUN
ajfa-8136	138	13	can	can	AUX
ajfa-8136	138	14	be	be	AUX
ajfa-8136	138	15	better	well	ADV
ajfa-8136	138	16	understood	understand	VERB
ajfa-8136	138	17	by	by	ADP
ajfa-8136	138	18	studying	study	VERB
ajfa-8136	138	19	the	the	DET
ajfa-8136	138	20	behavior	behavior	NOUN
ajfa-8136	138	21	pattern	pattern	NOUN
ajfa-8136	138	22	of	of	ADP
ajfa-8136	138	23	various	various	ADJ
ajfa-8136	138	24	liquidity	liquidity	NOUN
ajfa-8136	138	25	proxies	proxy	NOUN
ajfa-8136	138	26	(	(	PUNCT
ajfa-8136	138	27	amihud	amihud	PROPN
ajfa-8136	138	28	and	and	CCONJ
ajfa-8136	138	29	mendelson	mendelson	PROPN
ajfa-8136	138	30	,	,	PUNCT
ajfa-8136	138	31	1980	1980	NUM
ajfa-8136	138	32	;	;	PUNCT
ajfa-8136	138	33	acharya	acharya	PROPN
ajfa-8136	138	34	and	and	CCONJ
ajfa-8136	138	35	pedersen	pedersen	PROPN
ajfa-8136	138	36	,	,	PUNCT
ajfa-8136	138	37	2005	2005	NUM
ajfa-8136	138	38	)	)	PUNCT
ajfa-8136	138	39	.	.	PUNCT
ajfa-8136	139	1	this	this	PRON
ajfa-8136	139	2	helps	help	VERB
ajfa-8136	139	3	various	various	ADJ
ajfa-8136	139	4	agents	agent	NOUN
ajfa-8136	139	5	in	in	ADP
ajfa-8136	139	6	selecting	select	VERB
ajfa-8136	139	7	stock	stock	NOUN
ajfa-8136	139	8	exchanges	exchange	NOUN
ajfa-8136	139	9	in	in	ADP
ajfa-8136	139	10	terms	term	NOUN
ajfa-8136	139	11	of	of	ADP
ajfa-8136	139	12	liquidity	liquidity	NOUN
ajfa-8136	139	13	.	.	PUNCT
ajfa-8136	140	1	also	also	ADV
ajfa-8136	140	2	,	,	PUNCT
ajfa-8136	140	3	such	such	ADJ
ajfa-8136	140	4	studies	study	NOUN
ajfa-8136	140	5	also	also	ADV
ajfa-8136	140	6	help	help	VERB
ajfa-8136	140	7	the	the	DET
ajfa-8136	140	8	regulators	regulator	NOUN
ajfa-8136	140	9	particularly	particularly	ADV
ajfa-8136	140	10	in	in	ADP
ajfa-8136	140	11	emerging	emerge	VERB
ajfa-8136	140	12	markets	market	NOUN
ajfa-8136	140	13	that	that	PRON
ajfa-8136	140	14	believedto	believedto	PROPN
ajfa-8136	140	15	be	be	VERB
ajfa-8136	140	16	less	less	ADV
ajfa-8136	140	17	liquid	liquid	ADJ
ajfa-8136	140	18	in	in	ADP
ajfa-8136	140	19	designing	design	VERB
ajfa-8136	140	20	an	an	DET
ajfa-8136	140	21	efficient	efficient	ADJ
ajfa-8136	140	22	and	and	CCONJ
ajfa-8136	140	23	transparent	transparent	ADJ
ajfa-8136	140	24	trading	trading	NOUN
ajfa-8136	140	25	system	system	NOUN
ajfa-8136	140	26	.	.	PUNCT
ajfa-8136	141	1	bekaert	bekaert	PROPN
ajfa-8136	141	2	,	,	PUNCT
ajfa-8136	141	3	campbell	campbell	PROPN
ajfa-8136	141	4	and	and	CCONJ
ajfa-8136	141	5	lundblad	lundblad	PROPN
ajfa-8136	141	6	(	(	PUNCT
ajfa-8136	141	7	2007	2007	NUM
ajfa-8136	141	8	)	)	PUNCT
ajfa-8136	141	9	argued	argue	VERB
ajfa-8136	141	10	that	that	SCONJ
ajfa-8136	141	11	with	with	ADP
ajfa-8136	141	12	the	the	DET
ajfa-8136	141	13	capital	capital	NOUN
ajfa-8136	141	14	market	market	NOUN
ajfa-8136	141	15	liberalization	liberalization	NOUN
ajfa-8136	141	16	in	in	ADP
ajfa-8136	141	17	emerging	emerge	VERB
ajfa-8136	141	18	economies	economy	NOUN
ajfa-8136	141	19	,	,	PUNCT
ajfa-8136	141	20	liquidity	liquidity	NOUN
ajfa-8136	141	21	may	may	AUX
ajfa-8136	141	22	have	have	VERB
ajfa-8136	141	23	greater	great	ADJ
ajfa-8136	141	24	impacts	impact	NOUN
ajfa-8136	141	25	.	.	PUNCT
ajfa-8136	142	1	köksal	köksal	NOUN
ajfa-8136	142	2	(	(	PUNCT
ajfa-8136	142	3	2012	2012	NUM
ajfa-8136	142	4	)	)	PUNCT
ajfa-8136	142	5	studies	study	NOUN
ajfa-8136	142	6	intraday	intraday	NOUN
ajfa-8136	142	7	patterns	pattern	NOUN
ajfa-8136	142	8	of	of	ADP
ajfa-8136	142	9	various	various	ADJ
ajfa-8136	142	10	liquidity	liquidity	NOUN
ajfa-8136	142	11	proxies	proxy	NOUN
ajfa-8136	142	12	on	on	ADP
ajfa-8136	142	13	istanbul	istanbul	PROPN
ajfa-8136	142	14	stock	stock	PROPN
ajfa-8136	142	15	exchange	exchange	PROPN
ajfa-8136	142	16	(	(	PUNCT
ajfa-8136	142	17	ise	ise	PROPN
ajfa-8136	142	18	)	)	PUNCT
ajfa-8136	142	19	using	use	VERB
ajfa-8136	142	20	limit	limit	NOUN
ajfa-8136	142	21	order	order	NOUN
ajfa-8136	142	22	book	book	NOUN
ajfa-8136	142	23	.	.	PUNCT
ajfa-8136	143	1	it	it	PRON
ajfa-8136	143	2	is	be	AUX
ajfa-8136	143	3	reported	report	VERB
ajfa-8136	143	4	that	that	SCONJ
ajfa-8136	143	5	the	the	DET
ajfa-8136	143	6	spreads	spread	NOUN
ajfa-8136	143	7	follow	follow	VERB
ajfa-8136	143	8	an	an	DET
ajfa-8136	143	9	l	l	ADV
ajfa-8136	143	10	-	-	ADJ
ajfa-8136	143	11	shaped	shape	VERB
ajfa-8136	143	12	pattern	pattern	NOUN
ajfa-8136	143	13	whereas	whereas	SCONJ
ajfa-8136	143	14	returns	return	NOUN
ajfa-8136	143	15	,	,	PUNCT
ajfa-8136	143	16	number	number	NOUN
ajfa-8136	143	17	of	of	ADP
ajfa-8136	143	18	trades	trade	NOUN
ajfa-8136	143	19	and	and	CCONJ
ajfa-8136	143	20	volume	volume	NOUN
ajfa-8136	143	21	follow	follow	VERB
ajfa-8136	143	22	a	a	DET
ajfa-8136	143	23	u	u	NOUN
ajfa-8136	143	24	-	-	ADJ
ajfa-8136	143	25	shaped	shape	VERB
ajfa-8136	143	26	pattern	pattern	NOUN
ajfa-8136	143	27	.	.	PUNCT
ajfa-8136	144	1	in	in	ADP
ajfa-8136	144	2	addition	addition	NOUN
ajfa-8136	144	3	,	,	PUNCT
ajfa-8136	144	4	wide	wide	ADJ
ajfa-8136	144	5	spreads	spread	NOUN
ajfa-8136	144	6	are	be	AUX
ajfa-8136	144	7	accompanied	accompany	VERB
ajfa-8136	144	8	by	by	ADP
ajfa-8136	144	9	low	low	ADJ
ajfa-8136	144	10	depths	depth	NOUN
ajfa-8136	144	11	and	and	CCONJ
ajfa-8136	144	12	vice	vice	PROPN
ajfa-8136	144	13	versa	versa	ADV
ajfa-8136	144	14	indicating	indicate	VERB
ajfa-8136	144	15	that	that	SCONJ
ajfa-8136	144	16	traders	trader	NOUN
ajfa-8136	144	17	use	use	VERB
ajfa-8136	144	18	spreads	spread	NOUN
ajfa-8136	144	19	and	and	CCONJ
ajfa-8136	144	20	depths	depth	NOUN
ajfa-8136	144	21	simultaneously	simultaneously	ADV
ajfa-8136	144	22	to	to	PART
ajfa-8136	144	23	carry	carry	VERB
ajfa-8136	144	24	out	out	ADP
ajfa-8136	144	25	their	their	PRON
ajfa-8136	144	26	strategies	strategy	NOUN
ajfa-8136	144	27	.	.	PUNCT
ajfa-8136	145	1	asian	asian	ADJ
ajfa-8136	145	2	journal	journal	PROPN
ajfa-8136	145	3	of	of	ADP
ajfa-8136	145	4	finance	finance	PROPN
ajfa-8136	145	5	&	&	CCONJ
ajfa-8136	145	6	accounting	accounting	PROPN
ajfa-8136	145	7	issn	issn	PROPN
ajfa-8136	145	8	1946	1946	NUM
ajfa-8136	145	9	-	-	PUNCT
ajfa-8136	145	10	052x	052x	NOUN
ajfa-8136	145	11	2015	2015	NUM
ajfa-8136	145	12	,	,	PUNCT
ajfa-8136	145	13	vol	vol	NOUN
ajfa-8136	145	14	.	.	PROPN
ajfa-8136	145	15	7	7	NUM
ajfa-8136	145	16	,	,	PUNCT
ajfa-8136	145	17	no	no	INTJ
ajfa-8136	145	18	.	.	NOUN
ajfa-8136	145	19	2	2	NUM
ajfa-8136	145	20	42	42	NUM
ajfa-8136	145	21	tissaoui	tissaoui	NOUN
ajfa-8136	145	22	(	(	PUNCT
ajfa-8136	145	23	2012	2012	NUM
ajfa-8136	145	24	)	)	PUNCT
ajfa-8136	145	25	investigates	investigate	VERB
ajfa-8136	145	26	the	the	DET
ajfa-8136	145	27	intraday	intraday	NOUN
ajfa-8136	145	28	pattern	pattern	NOUN
ajfa-8136	145	29	of	of	ADP
ajfa-8136	145	30	trading	trading	NOUN
ajfa-8136	145	31	activity	activity	NOUN
ajfa-8136	145	32	,	,	PUNCT
ajfa-8136	145	33	liquidity	liquidity	NOUN
ajfa-8136	145	34	and	and	CCONJ
ajfa-8136	145	35	return	return	VERB
ajfa-8136	145	36	volatility	volatility	NOUN
ajfa-8136	145	37	of	of	ADP
ajfa-8136	145	38	the	the	DET
ajfa-8136	145	39	stocks	stock	NOUN
ajfa-8136	145	40	listed	list	VERB
ajfa-8136	145	41	on	on	ADP
ajfa-8136	145	42	tunisian	tunisian	ADJ
ajfa-8136	145	43	stock	stock	NOUN
ajfa-8136	145	44	exchange	exchange	PROPN
ajfa-8136	145	45	(	(	PUNCT
ajfa-8136	145	46	tse	tse	PROPN
ajfa-8136	145	47	)	)	PUNCT
ajfa-8136	145	48	.	.	PUNCT
ajfa-8136	146	1	the	the	DET
ajfa-8136	146	2	majority	majority	NOUN
ajfa-8136	146	3	of	of	ADP
ajfa-8136	146	4	these	these	DET
ajfa-8136	146	5	studies	study	NOUN
ajfa-8136	146	6	showed	show	VERB
ajfa-8136	146	7	that	that	SCONJ
ajfa-8136	146	8	the	the	DET
ajfa-8136	146	9	trading	trading	NOUN
ajfa-8136	146	10	volume	volume	NOUN
ajfa-8136	146	11	,	,	PUNCT
ajfa-8136	146	12	return	return	VERB
ajfa-8136	146	13	volatility	volatility	NOUN
ajfa-8136	146	14	and	and	CCONJ
ajfa-8136	146	15	liquidity	liquidity	NOUN
ajfa-8136	146	16	profile	profile	NOUN
ajfa-8136	146	17	follow	follow	VERB
ajfa-8136	146	18	the	the	DET
ajfa-8136	146	19	u	u	NOUN
ajfa-8136	146	20	-	-	ADJ
ajfa-8136	146	21	shaped	shape	VERB
ajfa-8136	146	22	patterns	pattern	NOUN
ajfa-8136	146	23	.	.	PUNCT
ajfa-8136	147	1	krishnan	krishnan	PROPN
ajfa-8136	147	2	and	and	CCONJ
ajfa-8136	147	3	mishra	mishra	PROPN
ajfa-8136	147	4	(	(	PUNCT
ajfa-8136	147	5	2013	2013	NUM
ajfa-8136	147	6	)	)	PUNCT
ajfa-8136	147	7	investigates	investigate	VERB
ajfa-8136	147	8	intraday	intraday	NOUN
ajfa-8136	147	9	liquidity	liquidity	NOUN
ajfa-8136	147	10	patterns	pattern	NOUN
ajfa-8136	147	11	of	of	ADP
ajfa-8136	147	12	twenty	twenty	NUM
ajfa-8136	147	13	stocks	stock	NOUN
ajfa-8136	147	14	listed	list	VERB
ajfa-8136	147	15	on	on	ADP
ajfa-8136	147	16	national	national	ADJ
ajfa-8136	147	17	stock	stock	PROPN
ajfa-8136	147	18	exchange	exchange	PROPN
ajfa-8136	147	19	(	(	PUNCT
ajfa-8136	147	20	nse	nse	NOUN
ajfa-8136	147	21	)	)	PUNCT
ajfa-8136	147	22	.	.	PUNCT
ajfa-8136	148	1	the	the	DET
ajfa-8136	148	2	study	study	NOUN
ajfa-8136	148	3	reported	report	VERB
ajfa-8136	148	4	that	that	SCONJ
ajfa-8136	148	5	many	many	ADJ
ajfa-8136	148	6	liquidity	liquidity	NOUN
ajfa-8136	148	7	proxies	proxy	NOUN
ajfa-8136	148	8	have	have	VERB
ajfa-8136	148	9	u	u	ADJ
ajfa-8136	148	10	-	-	ADJ
ajfa-8136	148	11	shaped	shape	VERB
ajfa-8136	148	12	pattern	pattern	NOUN
ajfa-8136	148	13	.	.	PUNCT
ajfa-8136	149	1	this	this	PRON
ajfa-8136	149	2	is	be	AUX
ajfa-8136	149	3	in	in	ADP
ajfa-8136	149	4	line	line	NOUN
ajfa-8136	149	5	with	with	ADP
ajfa-8136	149	6	the	the	DET
ajfa-8136	149	7	studies	study	NOUN
ajfa-8136	149	8	done	do	VERB
ajfa-8136	149	9	on	on	ADP
ajfa-8136	149	10	other	other	ADJ
ajfa-8136	149	11	quote	quote	INTJ
ajfa-8136	149	12	driven	drive	VERB
ajfa-8136	149	13	or	or	CCONJ
ajfa-8136	149	14	hybrid	hybrid	ADJ
ajfa-8136	149	15	markets	market	NOUN
ajfa-8136	149	16	.	.	PUNCT
ajfa-8136	150	1	table	table	NOUN
ajfa-8136	150	2	3.summary	3.summary	NUM
ajfa-8136	150	3	of	of	ADP
ajfa-8136	150	4	empirical	empirical	ADJ
ajfa-8136	150	5	studies	study	NOUN
ajfa-8136	150	6	on	on	ADP
ajfa-8136	150	7	liquidity	liquidity	NOUN
ajfa-8136	150	8	patterns	pattern	NOUN
ajfa-8136	150	9	author/	author/	NUM
ajfa-8136	150	10	’s	’s	PART
ajfa-8136	150	11	(	(	PUNCT
ajfa-8136	150	12	year	year	NOUN
ajfa-8136	150	13	)	)	PUNCT
ajfa-8136	150	14	market	market	NOUN
ajfa-8136	150	15	remarks	remark	VERB
ajfa-8136	150	16	guo	guo	PROPN
ajfa-8136	150	17	and	and	CCONJ
ajfa-8136	150	18	tian	tian	ADJ
ajfa-8136	150	19	(	(	PUNCT
ajfa-8136	150	20	2005	2005	NUM
ajfa-8136	150	21	)	)	PUNCT
ajfa-8136	150	22	shanghai	shanghai	PROPN
ajfa-8136	150	23	stock	stock	PROPN
ajfa-8136	150	24	exchange	exchange	PROPN
ajfa-8136	150	25	(	(	PUNCT
ajfa-8136	150	26	she	she	PRON
ajfa-8136	150	27	)	)	PUNCT
ajfa-8136	150	28	l	l	ADJ
ajfa-8136	150	29	-	-	ADJ
ajfa-8136	150	30	shaped	shape	VERB
ajfa-8136	150	31	pattern	pattern	NOUN
ajfa-8136	150	32	of	of	ADP
ajfa-8136	150	33	bid	bid	NOUN
ajfa-8136	150	34	ask	ask	NOUN
ajfa-8136	150	35	spread	spread	VERB
ajfa-8136	150	36	köksal	köksal	NOUN
ajfa-8136	150	37	(	(	PUNCT
ajfa-8136	150	38	2012	2012	NUM
ajfa-8136	150	39	)	)	PUNCT
ajfa-8136	150	40	istanbul	istanbul	PROPN
ajfa-8136	150	41	stock	stock	PROPN
ajfa-8136	150	42	exchange	exchange	PROPN
ajfa-8136	150	43	(	(	PUNCT
ajfa-8136	150	44	ise	ise	NOUN
ajfa-8136	150	45	)	)	PUNCT
ajfa-8136	150	46	l	l	NOUN
ajfa-8136	150	47	-	-	PUNCT
ajfa-8136	150	48	shaped	shape	VERB
ajfa-8136	150	49	pattern	pattern	NOUN
ajfa-8136	150	50	of	of	ADP
ajfa-8136	150	51	spreads	spread	NOUN
ajfa-8136	150	52	,	,	PUNCT
ajfa-8136	150	53	u	u	ADJ
ajfa-8136	150	54	-	-	ADJ
ajfa-8136	150	55	shaped	shape	VERB
ajfa-8136	150	56	pattern	pattern	NOUN
ajfa-8136	150	57	of	of	ADP
ajfa-8136	150	58	returns	return	NOUN
ajfa-8136	150	59	,	,	PUNCT
ajfa-8136	150	60	number	number	NOUN
ajfa-8136	150	61	of	of	ADP
ajfa-8136	150	62	trades	trade	NOUN
ajfa-8136	150	63	and	and	CCONJ
ajfa-8136	150	64	volume	volume	NOUN
ajfa-8136	150	65	tissaoui	tissaoui	NOUN
ajfa-8136	150	66	(	(	PUNCT
ajfa-8136	150	67	2012	2012	NUM
ajfa-8136	150	68	)	)	PUNCT
ajfa-8136	150	69	tunisian	tunisian	ADJ
ajfa-8136	150	70	stock	stock	NOUN
ajfa-8136	150	71	exchange	exchange	PROPN
ajfa-8136	150	72	(	(	PUNCT
ajfa-8136	150	73	tse	tse	PROPN
ajfa-8136	150	74	)	)	PUNCT
ajfa-8136	150	75	existence	existence	NOUN
ajfa-8136	150	76	of	of	ADP
ajfa-8136	150	77	seasonality	seasonality	NOUN
ajfa-8136	150	78	in	in	ADP
ajfa-8136	150	79	trading	trading	NOUN
ajfa-8136	150	80	activity	activity	NOUN
ajfa-8136	150	81	,	,	PUNCT
ajfa-8136	150	82	u	u	ADJ
ajfa-8136	150	83	-	-	ADJ
ajfa-8136	150	84	shaped	shape	VERB
ajfa-8136	150	85	pattern	pattern	NOUN
ajfa-8136	150	86	of	of	ADP
ajfa-8136	150	87	trading	trading	NOUN
ajfa-8136	150	88	volume	volume	NOUN
ajfa-8136	150	89	and	and	CCONJ
ajfa-8136	150	90	return	return	VERB
ajfa-8136	150	91	volatility	volatility	NOUN
ajfa-8136	150	92	krishnan	krishnan	PROPN
ajfa-8136	150	93	and	and	CCONJ
ajfa-8136	150	94	mishra	mishra	PROPN
ajfa-8136	150	95	(	(	PUNCT
ajfa-8136	150	96	2013	2013	NUM
ajfa-8136	150	97	)	)	PUNCT
ajfa-8136	150	98	national	national	ADJ
ajfa-8136	150	99	stock	stock	PROPN
ajfa-8136	150	100	exchange	exchange	PROPN
ajfa-8136	150	101	(	(	PUNCT
ajfa-8136	150	102	nse	nse	NOUN
ajfa-8136	150	103	)	)	PUNCT
ajfa-8136	150	104	many	many	ADJ
ajfa-8136	150	105	liquidity	liquidity	NOUN
ajfa-8136	150	106	proxies	proxy	NOUN
ajfa-8136	150	107	have	have	VERB
ajfa-8136	150	108	u	u	ADJ
ajfa-8136	150	109	-	-	ADJ
ajfa-8136	150	110	shaped	shape	VERB
ajfa-8136	150	111	pattern	pattern	NOUN
ajfa-8136	150	112	.	.	PUNCT
ajfa-8136	151	1	source	source	NOUN
ajfa-8136	151	2	:	:	PUNCT
ajfa-8136	151	3	compiled	compile	VERB
ajfa-8136	151	4	by	by	ADP
ajfa-8136	151	5	authors	author	NOUN
ajfa-8136	151	6	from	from	ADP
ajfa-8136	151	7	cited	cite	VERB
ajfa-8136	151	8	research	research	NOUN
ajfa-8136	151	9	articles	article	NOUN
ajfa-8136	151	10	empirical	empirical	ADJ
ajfa-8136	151	11	market	market	NOUN
ajfa-8136	151	12	microstructure	microstructure	NOUN
ajfa-8136	151	13	research	research	NOUN
ajfa-8136	151	14	has	have	AUX
ajfa-8136	151	15	shifted	shift	VERB
ajfa-8136	151	16	its	its	PRON
ajfa-8136	151	17	focus	focus	NOUN
ajfa-8136	151	18	from	from	ADP
ajfa-8136	151	19	studying	study	VERB
ajfa-8136	151	20	individual	individual	ADJ
ajfa-8136	151	21	stock	stock	NOUN
ajfa-8136	151	22	liquidity	liquidity	NOUN
ajfa-8136	151	23	to	to	ADP
ajfa-8136	151	24	examining	examine	VERB
ajfa-8136	151	25	commonality	commonality	NOUN
ajfa-8136	151	26	.	.	PUNCT
ajfa-8136	152	1	commonality	commonality	NOUN
ajfa-8136	152	2	is	be	AUX
ajfa-8136	152	3	defined	define	VERB
ajfa-8136	152	4	as	as	ADP
ajfa-8136	152	5	the	the	DET
ajfa-8136	152	6	co	co	NOUN
ajfa-8136	152	7	-	-	NOUN
ajfa-8136	152	8	movement	movement	NOUN
ajfa-8136	152	9	between	between	ADP
ajfa-8136	152	10	variations	variation	NOUN
ajfa-8136	152	11	in	in	ADP
ajfa-8136	152	12	individual	individual	ADJ
ajfa-8136	152	13	stock	stock	NOUN
ajfa-8136	152	14	liquidity	liquidity	NOUN
ajfa-8136	152	15	and	and	CCONJ
ajfa-8136	152	16	variations	variation	NOUN
ajfa-8136	152	17	in	in	ADP
ajfa-8136	152	18	market	market	NOUN
ajfa-8136	152	19	and	and	CCONJ
ajfa-8136	152	20	industry	industry	NOUN
ajfa-8136	152	21	wide	wide	ADJ
ajfa-8136	152	22	liquidity	liquidity	NOUN
ajfa-8136	152	23	.	.	PUNCT
ajfa-8136	153	1	chordia	chordia	NOUN
ajfa-8136	153	2	et	et	PROPN
ajfa-8136	153	3	al	al	PROPN
ajfa-8136	153	4	.	.	PROPN
ajfa-8136	154	1	(	(	PUNCT
ajfa-8136	154	2	2000	2000	NUM
ajfa-8136	154	3	)	)	PUNCT
ajfa-8136	154	4	empirically	empirically	ADV
ajfa-8136	154	5	studied	study	VERB
ajfa-8136	154	6	common	common	ADJ
ajfa-8136	154	7	underlying	underlying	ADJ
ajfa-8136	154	8	determinants	determinant	NOUN
ajfa-8136	154	9	of	of	ADP
ajfa-8136	154	10	time	time	NOUN
ajfa-8136	154	11	series	series	NOUN
ajfa-8136	154	12	movements	movement	NOUN
ajfa-8136	154	13	in	in	ADP
ajfa-8136	154	14	liquidity	liquidity	NOUN
ajfa-8136	154	15	,	,	PUNCT
ajfa-8136	154	16	known	know	VERB
ajfa-8136	154	17	as	as	ADP
ajfa-8136	154	18	commonality	commonality	NOUN
ajfa-8136	154	19	.	.	PUNCT
ajfa-8136	155	1	their	their	PRON
ajfa-8136	155	2	study	study	NOUN
ajfa-8136	155	3	uncovers	uncover	NOUN
ajfa-8136	155	4	that	that	PRON
ajfa-8136	155	5	the	the	DET
ajfa-8136	155	6	inter	inter	ADJ
ajfa-8136	155	7	-	-	ADJ
ajfa-8136	155	8	temporal	temporal	ADJ
ajfa-8136	155	9	changes	change	NOUN
ajfa-8136	155	10	in	in	ADP
ajfa-8136	155	11	liquidity	liquidity	NOUN
ajfa-8136	155	12	is	be	AUX
ajfa-8136	155	13	supported	support	VERB
ajfa-8136	155	14	by	by	ADP
ajfa-8136	155	15	the	the	DET
ajfa-8136	155	16	theory	theory	NOUN
ajfa-8136	155	17	of	of	ADP
ajfa-8136	155	18	inventory	inventory	NOUN
ajfa-8136	155	19	risks	risk	NOUN
ajfa-8136	155	20	and	and	CCONJ
ajfa-8136	155	21	theory	theory	NOUN
ajfa-8136	155	22	of	of	ADP
ajfa-8136	155	23	asymmetric	asymmetric	ADJ
ajfa-8136	155	24	information	information	NOUN
ajfa-8136	155	25	.	.	PUNCT
ajfa-8136	156	1	trading	trading	NOUN
ajfa-8136	156	2	volume	volume	NOUN
ajfa-8136	156	3	causes	cause	VERB
ajfa-8136	156	4	variations	variation	NOUN
ajfa-8136	156	5	in	in	ADP
ajfa-8136	156	6	dealer	dealer	NOUN
ajfa-8136	156	7	inventory	inventory	NOUN
ajfa-8136	156	8	levels	level	NOUN
ajfa-8136	156	9	,	,	PUNCT
ajfa-8136	156	10	which	which	PRON
ajfa-8136	156	11	results	result	VERB
ajfa-8136	156	12	in	in	ADP
ajfa-8136	156	13	varying	vary	VERB
ajfa-8136	156	14	liquidity	liquidity	NOUN
ajfa-8136	156	15	levels	level	NOUN
ajfa-8136	156	16	.	.	PUNCT
ajfa-8136	157	1	inventory	inventory	NOUN
ajfa-8136	157	2	carrying	carry	VERB
ajfa-8136	157	3	costs	cost	NOUN
ajfa-8136	157	4	depends	depend	VERB
ajfa-8136	157	5	on	on	ADP
ajfa-8136	157	6	interest	interest	NOUN
ajfa-8136	157	7	rates	rate	NOUN
ajfa-8136	157	8	,	,	PUNCT
ajfa-8136	157	9	hence	hence	ADV
ajfa-8136	157	10	it	it	PRON
ajfa-8136	157	11	also	also	ADV
ajfa-8136	157	12	co	co	VERB
ajfa-8136	157	13	-	-	NOUN
ajfa-8136	157	14	moves	move	NOUN
ajfa-8136	157	15	.	.	PUNCT
ajfa-8136	158	1	asymmetric	asymmetric	ADJ
ajfa-8136	158	2	information	information	NOUN
ajfa-8136	158	3	i.e.	i.e.	X
ajfa-8136	158	4	when	when	SCONJ
ajfa-8136	158	5	few	few	ADJ
ajfa-8136	158	6	traders	trader	NOUN
ajfa-8136	158	7	have	have	VERB
ajfa-8136	158	8	more	more	ADJ
ajfa-8136	158	9	information	information	NOUN
ajfa-8136	158	10	than	than	ADP
ajfa-8136	158	11	the	the	DET
ajfa-8136	158	12	rest	rest	NOUN
ajfa-8136	158	13	also	also	ADV
ajfa-8136	158	14	causes	cause	VERB
ajfa-8136	158	15	co	co	NOUN
ajfa-8136	158	16	variation	variation	NOUN
ajfa-8136	158	17	in	in	ADP
ajfa-8136	158	18	liquidity	liquidity	NOUN
ajfa-8136	158	19	.	.	PUNCT
ajfa-8136	159	1	the	the	DET
ajfa-8136	159	2	study	study	NOUN
ajfa-8136	159	3	attempts	attempt	VERB
ajfa-8136	159	4	to	to	PART
ajfa-8136	159	5	find	find	VERB
ajfa-8136	159	6	evidence	evidence	NOUN
ajfa-8136	159	7	that	that	SCONJ
ajfa-8136	159	8	liquidity	liquidity	NOUN
ajfa-8136	159	9	co	co	NOUN
ajfa-8136	159	10	-	-	NOUN
ajfa-8136	159	11	variation	variation	NOUN
ajfa-8136	159	12	is	be	AUX
ajfa-8136	159	13	much	much	ADV
ajfa-8136	159	14	stronger	strong	ADJ
ajfa-8136	159	15	for	for	ADP
ajfa-8136	159	16	portfolios	portfolio	NOUN
ajfa-8136	159	17	than	than	ADP
ajfa-8136	159	18	individual	individual	ADJ
ajfa-8136	159	19	stocks	stock	NOUN
ajfa-8136	159	20	,	,	PUNCT
ajfa-8136	159	21	a	a	DET
ajfa-8136	159	22	finding	finding	NOUN
ajfa-8136	159	23	relevant	relevant	ADJ
ajfa-8136	159	24	for	for	ADP
ajfa-8136	159	25	investment	investment	NOUN
ajfa-8136	159	26	managers	manager	NOUN
ajfa-8136	159	27	who	who	PRON
ajfa-8136	159	28	turn	turn	VERB
ajfa-8136	159	29	over	over	ADP
ajfa-8136	159	30	their	their	PRON
ajfa-8136	159	31	holdings	holding	NOUN
ajfa-8136	159	32	frequently	frequently	ADV
ajfa-8136	159	33	.	.	PUNCT
ajfa-8136	160	1	fabre	fabre	PROPN
ajfa-8136	160	2	and	and	CCONJ
ajfa-8136	160	3	frino	frino	PROPN
ajfa-8136	160	4	(	(	PUNCT
ajfa-8136	160	5	2004	2004	NUM
ajfa-8136	160	6	)	)	PUNCT
ajfa-8136	160	7	does	do	AUX
ajfa-8136	160	8	not	not	PART
ajfa-8136	160	9	find	find	VERB
ajfa-8136	160	10	support	support	NOUN
ajfa-8136	160	11	for	for	ADP
ajfa-8136	160	12	commonality	commonality	NOUN
ajfa-8136	160	13	on	on	ADP
ajfa-8136	160	14	asx	asx	NOUN
ajfa-8136	160	15	and	and	CCONJ
ajfa-8136	160	16	argued	argue	VERB
ajfa-8136	160	17	that	that	SCONJ
ajfa-8136	160	18	commonality	commonality	NOUN
ajfa-8136	160	19	in	in	ADP
ajfa-8136	160	20	liquidity	liquidity	NOUN
ajfa-8136	160	21	might	might	AUX
ajfa-8136	160	22	be	be	AUX
ajfa-8136	160	23	attributed	attribute	VERB
ajfa-8136	160	24	to	to	ADP
ajfa-8136	160	25	market	market	NOUN
ajfa-8136	160	26	designs	design	NOUN
ajfa-8136	160	27	.	.	PUNCT
ajfa-8136	161	1	narayan	narayan	PROPN
ajfa-8136	161	2	et	et	PROPN
ajfa-8136	161	3	al	al	PROPN
ajfa-8136	161	4	.	.	PROPN
ajfa-8136	162	1	(	(	PUNCT
ajfa-8136	162	2	2011	2011	NUM
ajfa-8136	162	3	)	)	PUNCT
ajfa-8136	162	4	made	make	VERB
ajfa-8136	162	5	insightful	insightful	ADJ
ajfa-8136	162	6	analyses	analysis	NOUN
ajfa-8136	162	7	of	of	ADP
ajfa-8136	162	8	the	the	DET
ajfa-8136	162	9	commonality	commonality	NOUN
ajfa-8136	162	10	on	on	ADP
ajfa-8136	162	11	two	two	NUM
ajfa-8136	162	12	stock	stock	NOUN
ajfa-8136	162	13	exchanges	exchange	NOUN
ajfa-8136	162	14	of	of	ADP
ajfa-8136	162	15	china	china	PROPN
ajfa-8136	162	16	comprising	comprising	NOUN
ajfa-8136	162	17	of	of	ADP
ajfa-8136	162	18	82	82	NUM
ajfa-8136	162	19	million	million	NUM
ajfa-8136	162	20	transactions	transaction	NOUN
ajfa-8136	162	21	.	.	PUNCT
ajfa-8136	163	1	they	they	PRON
ajfa-8136	163	2	examined	examine	VERB
ajfa-8136	163	3	four	four	NUM
ajfa-8136	163	4	hypothesis	hypothesis	NOUN
ajfa-8136	163	5	related	relate	VERB
ajfa-8136	163	6	to	to	ADP
ajfa-8136	163	7	commonality	commonality	NOUN
ajfa-8136	163	8	.	.	PUNCT
ajfa-8136	164	1	first	first	ADV
ajfa-8136	164	2	,	,	PUNCT
ajfa-8136	164	3	market	market	NOUN
ajfa-8136	164	4	-	-	PUNCT
ajfa-8136	164	5	wide	wide	ADJ
ajfa-8136	164	6	liquidity	liquidity	NOUN
ajfa-8136	164	7	is	be	AUX
ajfa-8136	164	8	variable	variable	ADJ
ajfa-8136	164	9	influences	influence	NOUN
ajfa-8136	164	10	liquidity	liquidity	NOUN
ajfa-8136	164	11	of	of	ADP
ajfa-8136	164	12	individual	individual	ADJ
ajfa-8136	164	13	stocks	stock	NOUN
ajfa-8136	164	14	.	.	PUNCT
ajfa-8136	165	1	this	this	PRON
ajfa-8136	165	2	is	be	AUX
ajfa-8136	165	3	confirmed	confirm	VERB
ajfa-8136	165	4	by	by	ADP
ajfa-8136	165	5	positive	positive	ADJ
ajfa-8136	165	6	and	and	CCONJ
ajfa-8136	165	7	statistically	statistically	ADV
ajfa-8136	165	8	significant	significant	ADJ
ajfa-8136	165	9	beta	beta	NOUN
ajfa-8136	165	10	.	.	PUNCT
ajfa-8136	166	1	second	second	ADJ
ajfa-8136	166	2	,	,	PUNCT
ajfa-8136	166	3	size	size	NOUN
ajfa-8136	166	4	of	of	ADP
ajfa-8136	166	5	the	the	DET
ajfa-8136	166	6	firm	firm	NOUN
ajfa-8136	166	7	is	be	AUX
ajfa-8136	166	8	not	not	PART
ajfa-8136	166	9	asian	asian	ADJ
ajfa-8136	166	10	journal	journal	NOUN
ajfa-8136	166	11	of	of	ADP
ajfa-8136	166	12	finance	finance	PROPN
ajfa-8136	166	13	&	&	CCONJ
ajfa-8136	166	14	accounting	accounting	PROPN
ajfa-8136	166	15	issn	issn	PROPN
ajfa-8136	166	16	1946	1946	NUM
ajfa-8136	166	17	-	-	PUNCT
ajfa-8136	166	18	052x	052x	NOUN
ajfa-8136	166	19	2015	2015	NUM
ajfa-8136	166	20	,	,	PUNCT
ajfa-8136	166	21	vol	vol	NOUN
ajfa-8136	166	22	.	.	PROPN
ajfa-8136	167	1	7	7	NUM
ajfa-8136	167	2	,	,	PUNCT
ajfa-8136	167	3	no	no	INTJ
ajfa-8136	167	4	.	.	NOUN
ajfa-8136	167	5	2	2	NUM
ajfa-8136	167	6	43	43	NUM
ajfa-8136	167	7	a	a	DET
ajfa-8136	167	8	determinant	determinant	NOUN
ajfa-8136	167	9	of	of	ADP
ajfa-8136	167	10	commonality	commonality	NOUN
ajfa-8136	167	11	on	on	ADP
ajfa-8136	167	12	chinese	chinese	ADJ
ajfa-8136	167	13	stock	stock	NOUN
ajfa-8136	167	14	exchanges	exchange	NOUN
ajfa-8136	167	15	.	.	PUNCT
ajfa-8136	168	1	this	this	PRON
ajfa-8136	168	2	is	be	AUX
ajfa-8136	168	3	different	different	ADJ
ajfa-8136	168	4	from	from	ADP
ajfa-8136	168	5	the	the	DET
ajfa-8136	168	6	existing	exist	VERB
ajfa-8136	168	7	literature	literature	NOUN
ajfa-8136	168	8	which	which	PRON
ajfa-8136	168	9	says	say	VERB
ajfa-8136	168	10	size	size	NOUN
ajfa-8136	168	11	effects	effect	NOUN
ajfa-8136	168	12	in	in	ADP
ajfa-8136	168	13	commonality	commonality	NOUN
ajfa-8136	168	14	.	.	PUNCT
ajfa-8136	169	1	third	third	ADJ
ajfa-8136	169	2	,	,	PUNCT
ajfa-8136	169	3	sector	sector	NOUN
ajfa-8136	169	4	specific	specific	ADJ
ajfa-8136	169	5	liquidity	liquidity	NOUN
ajfa-8136	169	6	has	have	VERB
ajfa-8136	169	7	a	a	DET
ajfa-8136	169	8	greater	great	ADJ
ajfa-8136	169	9	influence	influence	NOUN
ajfa-8136	169	10	on	on	ADP
ajfa-8136	169	11	liquidity	liquidity	NOUN
ajfa-8136	169	12	of	of	ADP
ajfa-8136	169	13	individual	individual	ADJ
ajfa-8136	169	14	stocks	stock	NOUN
ajfa-8136	169	15	in	in	ADP
ajfa-8136	169	16	comparison	comparison	NOUN
ajfa-8136	169	17	to	to	ADP
ajfa-8136	169	18	market	market	NOUN
ajfa-8136	169	19	-	-	PUNCT
ajfa-8136	169	20	wide	wide	ADJ
ajfa-8136	169	21	liquidity	liquidity	NOUN
ajfa-8136	169	22	.	.	PUNCT
ajfa-8136	170	1	commonality	commonality	NOUN
ajfa-8136	170	2	is	be	AUX
ajfa-8136	170	3	found	find	VERB
ajfa-8136	170	4	stronger	strong	ADJ
ajfa-8136	170	5	during	during	ADP
ajfa-8136	170	6	bear	bear	NOUN
ajfa-8136	170	7	period	period	NOUN
ajfa-8136	170	8	then	then	ADV
ajfa-8136	170	9	bull	bull	NOUN
ajfa-8136	170	10	period	period	NOUN
ajfa-8136	170	11	as	as	SCONJ
ajfa-8136	170	12	investors	investor	NOUN
ajfa-8136	170	13	are	be	AUX
ajfa-8136	170	14	more	more	ADV
ajfa-8136	170	15	concerned	concerned	ADJ
ajfa-8136	170	16	of	of	ADP
ajfa-8136	170	17	macroeconomic	macroeconomic	ADJ
ajfa-8136	170	18	news	news	NOUN
ajfa-8136	170	19	in	in	ADP
ajfa-8136	170	20	comparison	comparison	NOUN
ajfa-8136	170	21	to	to	ADP
ajfa-8136	170	22	firm	firm	ADJ
ajfa-8136	170	23	performance	performance	NOUN
ajfa-8136	170	24	.	.	PUNCT
ajfa-8136	171	1	the	the	DET
ajfa-8136	171	2	study	study	NOUN
ajfa-8136	171	3	finds	find	VERB
ajfa-8136	171	4	evidencein	evidencein	ADJ
ajfa-8136	171	5	support	support	NOUN
ajfa-8136	171	6	of	of	ADP
ajfa-8136	171	7	commonality	commonality	NOUN
ajfa-8136	171	8	in	in	ADP
ajfa-8136	171	9	liquidity	liquidity	NOUN
ajfa-8136	171	10	and	and	CCONJ
ajfa-8136	171	11	a	a	DET
ajfa-8136	171	12	greater	great	ADJ
ajfa-8136	171	13	influence	influence	NOUN
ajfa-8136	171	14	of	of	ADP
ajfa-8136	171	15	industry	industry	NOUN
ajfa-8136	171	16	-	-	PUNCT
ajfa-8136	171	17	wide	wide	ADJ
ajfa-8136	171	18	liquidity	liquidity	NOUN
ajfa-8136	171	19	in	in	ADP
ajfa-8136	171	20	explaining	explain	VERB
ajfa-8136	171	21	liquidity	liquidity	NOUN
ajfa-8136	171	22	of	of	ADP
ajfa-8136	171	23	individual	individual	ADJ
ajfa-8136	171	24	stocks	stock	NOUN
ajfa-8136	171	25	.	.	PUNCT
ajfa-8136	172	1	pukthuanthong	pukthuanthong	NOUN
ajfa-8136	172	2	-	-	PUNCT
ajfa-8136	172	3	le	le	X
ajfa-8136	172	4	and	and	CCONJ
ajfa-8136	172	5	visaltanachoti	visaltanachoti	PROPN
ajfa-8136	172	6	(	(	PUNCT
ajfa-8136	172	7	2009	2009	NUM
ajfa-8136	172	8	)	)	PUNCT
ajfa-8136	172	9	studied	study	VERB
ajfa-8136	172	10	commonality	commonality	NOUN
ajfa-8136	172	11	of	of	ADP
ajfa-8136	172	12	stocks	stock	NOUN
ajfa-8136	172	13	listed	list	VERB
ajfa-8136	172	14	on	on	ADP
ajfa-8136	172	15	stock	stock	NOUN
ajfa-8136	172	16	exchange	exchange	PROPN
ajfa-8136	172	17	of	of	ADP
ajfa-8136	172	18	thailand	thailand	PROPN
ajfa-8136	172	19	(	(	PUNCT
ajfa-8136	172	20	set	set	PROPN
ajfa-8136	172	21	)	)	PUNCT
ajfa-8136	172	22	using	use	VERB
ajfa-8136	172	23	eight	eight	NUM
ajfa-8136	172	24	years	year	NOUN
ajfa-8136	172	25	tick	tick	NOUN
ajfa-8136	172	26	data	datum	NOUN
ajfa-8136	172	27	.	.	PUNCT
ajfa-8136	173	1	the	the	DET
ajfa-8136	173	2	study	study	NOUN
ajfa-8136	173	3	reported	report	VERB
ajfa-8136	173	4	empirical	empirical	ADJ
ajfa-8136	173	5	evidence	evidence	NOUN
ajfa-8136	173	6	in	in	ADP
ajfa-8136	173	7	favour	favour	NOUN
ajfa-8136	173	8	of	of	ADP
ajfa-8136	173	9	market	market	NOUN
ajfa-8136	173	10	wide	wide	ADJ
ajfa-8136	173	11	commonality	commonality	NOUN
ajfa-8136	173	12	across	across	ADP
ajfa-8136	173	13	various	various	ADJ
ajfa-8136	173	14	liquidity	liquidity	NOUN
ajfa-8136	173	15	proxies	proxy	NOUN
ajfa-8136	173	16	.	.	PUNCT
ajfa-8136	174	1	also	also	ADV
ajfa-8136	174	2	,	,	PUNCT
ajfa-8136	174	3	it	it	PRON
ajfa-8136	174	4	is	be	AUX
ajfa-8136	174	5	found	find	VERB
ajfa-8136	174	6	that	that	SCONJ
ajfa-8136	174	7	industry	industry	NOUN
ajfa-8136	174	8	wide	wide	ADJ
ajfa-8136	174	9	commonality	commonality	NOUN
ajfa-8136	174	10	is	be	AUX
ajfa-8136	174	11	stronger	strong	ADJ
ajfa-8136	174	12	than	than	ADP
ajfa-8136	174	13	market	market	NOUN
ajfa-8136	174	14	wide	wide	ADJ
ajfa-8136	174	15	commonality	commonality	NOUN
ajfa-8136	174	16	.	.	PUNCT
ajfa-8136	175	1	the	the	DET
ajfa-8136	175	2	implications	implication	NOUN
ajfa-8136	175	3	of	of	ADP
ajfa-8136	175	4	commonality	commonality	NOUN
ajfa-8136	175	5	in	in	ADP
ajfa-8136	175	6	liquidity	liquidity	NOUN
ajfa-8136	175	7	on	on	ADP
ajfa-8136	175	8	investors	investor	NOUN
ajfa-8136	175	9	are	be	AUX
ajfa-8136	175	10	not	not	PART
ajfa-8136	175	11	fully	fully	ADV
ajfa-8136	175	12	understood	understand	VERB
ajfa-8136	175	13	.	.	PUNCT
ajfa-8136	176	1	anderson	anderson	PROPN
ajfa-8136	176	2	et	et	PROPN
ajfa-8136	176	3	al	al	PROPN
ajfa-8136	176	4	.	.	PROPN
ajfa-8136	177	1	(	(	PUNCT
ajfa-8136	177	2	2013	2013	NUM
ajfa-8136	177	3	)	)	PUNCT
ajfa-8136	177	4	investigate	investigate	VERB
ajfa-8136	177	5	whether	whether	SCONJ
ajfa-8136	177	6	investors	investor	NOUN
ajfa-8136	177	7	are	be	AUX
ajfa-8136	177	8	compensated	compensate	VERB
ajfa-8136	177	9	for	for	ADP
ajfa-8136	177	10	taking	take	VERB
ajfa-8136	177	11	on	on	ADP
ajfa-8136	177	12	commonality	commonality	NOUN
ajfa-8136	177	13	risk	risk	NOUN
ajfa-8136	177	14	in	in	ADP
ajfa-8136	177	15	equity	equity	NOUN
ajfa-8136	177	16	portfolios	portfolio	NOUN
ajfa-8136	177	17	.	.	PUNCT
ajfa-8136	178	1	this	this	DET
ajfa-8136	178	2	study	study	NOUN
ajfa-8136	178	3	reports	report	VERB
ajfa-8136	178	4	economical	economical	ADJ
ajfa-8136	178	5	and	and	CCONJ
ajfa-8136	178	6	statistical	statistical	ADJ
ajfa-8136	178	7	significance	significance	NOUN
ajfa-8136	178	8	of	of	ADP
ajfa-8136	178	9	return	return	NOUN
ajfa-8136	178	10	premium	premium	NOUN
ajfa-8136	178	11	for	for	ADP
ajfa-8136	178	12	commonality	commonality	NOUN
ajfa-8136	178	13	risk	risk	NOUN
ajfa-8136	178	14	in	in	ADP
ajfa-8136	178	15	nyse	nyse	PROPN
ajfa-8136	178	16	stocks	stock	NOUN
ajfa-8136	178	17	.	.	PUNCT
ajfa-8136	179	1	the	the	DET
ajfa-8136	179	2	commonality	commonality	NOUN
ajfa-8136	179	3	risk	risk	NOUN
ajfa-8136	179	4	premium	premium	NOUN
ajfa-8136	179	5	is	be	AUX
ajfa-8136	179	6	robust	robust	ADJ
ajfa-8136	179	7	to	to	ADP
ajfa-8136	179	8	various	various	ADJ
ajfa-8136	179	9	measures	measure	NOUN
ajfa-8136	179	10	of	of	ADP
ajfa-8136	179	11	liquidity	liquidity	NOUN
ajfa-8136	179	12	and	and	CCONJ
ajfa-8136	179	13	estimating	estimate	VERB
ajfa-8136	179	14	its	its	PRON
ajfa-8136	179	15	systematic	systematic	ADJ
ajfa-8136	179	16	component	component	NOUN
ajfa-8136	179	17	.	.	PUNCT
ajfa-8136	180	1	zheng	zheng	PROPN
ajfa-8136	180	2	and	and	CCONJ
ajfa-8136	180	3	zhang	zhang	PROPN
ajfa-8136	180	4	(	(	PUNCT
ajfa-8136	180	5	2006	2006	NUM
ajfa-8136	180	6	)	)	PUNCT
ajfa-8136	180	7	examines	examine	NOUN
ajfa-8136	180	8	to	to	ADP
ajfa-8136	180	9	the	the	DET
ajfa-8136	180	10	degree	degree	NOUN
ajfa-8136	180	11	at	at	ADP
ajfa-8136	180	12	which	which	PRON
ajfa-8136	180	13	liquidity	liquidity	NOUN
ajfa-8136	180	14	is	be	AUX
ajfa-8136	180	15	driven	drive	VERB
ajfa-8136	180	16	by	by	ADP
ajfa-8136	180	17	common	common	ADJ
ajfa-8136	180	18	underlying	underlying	ADJ
ajfa-8136	180	19	factors	factor	NOUN
ajfa-8136	180	20	in	in	ADP
ajfa-8136	180	21	china	china	PROPN
ajfa-8136	180	22	that	that	PRON
ajfa-8136	180	23	has	have	AUX
ajfa-8136	180	24	adopted	adopt	VERB
ajfa-8136	180	25	an	an	DET
ajfa-8136	180	26	order	order	NOUN
ajfa-8136	180	27	-	-	PUNCT
ajfa-8136	180	28	driven	drive	VERB
ajfa-8136	180	29	trading	trading	NOUN
ajfa-8136	180	30	system	system	NOUN
ajfa-8136	180	31	.	.	PUNCT
ajfa-8136	181	1	the	the	DET
ajfa-8136	181	2	study	study	NOUN
ajfa-8136	181	3	found	find	VERB
ajfa-8136	181	4	the	the	DET
ajfa-8136	181	5	influences	influence	NOUN
ajfa-8136	181	6	of	of	ADP
ajfa-8136	181	7	size	size	NOUN
ajfa-8136	181	8	,	,	PUNCT
ajfa-8136	181	9	industry	industry	NOUN
ajfa-8136	181	10	,	,	PUNCT
ajfa-8136	181	11	and	and	CCONJ
ajfa-8136	181	12	up	up	ADV
ajfa-8136	181	13	and	and	CCONJ
ajfa-8136	181	14	down	down	ADV
ajfa-8136	181	15	markets	market	NOUN
ajfa-8136	181	16	effects	effect	NOUN
ajfa-8136	181	17	in	in	ADP
ajfa-8136	181	18	determining	determine	VERB
ajfa-8136	181	19	common	common	ADJ
ajfa-8136	181	20	trend	trend	NOUN
ajfa-8136	181	21	in	in	ADP
ajfa-8136	181	22	liquidity	liquidity	NOUN
ajfa-8136	181	23	.	.	PUNCT
ajfa-8136	182	1	tayahet	tayahet	PROPN
ajfa-8136	182	2	al	al	PROPN
ajfa-8136	182	3	.	.	PROPN
ajfa-8136	183	1	(	(	PUNCT
ajfa-8136	183	2	2015	2015	NUM
ajfa-8136	183	3	)	)	PUNCT
ajfa-8136	183	4	argued	argue	VERB
ajfa-8136	183	5	that	that	SCONJ
ajfa-8136	183	6	for	for	ADP
ajfa-8136	183	7	most	most	ADJ
ajfa-8136	183	8	of	of	ADP
ajfa-8136	183	9	the	the	DET
ajfa-8136	183	10	emerging	emerge	VERB
ajfa-8136	183	11	economies	economy	NOUN
ajfa-8136	183	12	intraday	intraday	NOUN
ajfa-8136	183	13	data	datum	NOUN
ajfa-8136	183	14	is	be	AUX
ajfa-8136	183	15	not	not	PART
ajfa-8136	183	16	available	available	ADJ
ajfa-8136	183	17	.	.	PUNCT
ajfa-8136	184	1	so	so	ADV
ajfa-8136	184	2	,	,	PUNCT
ajfa-8136	184	3	they	they	PRON
ajfa-8136	184	4	studied	study	VERB
ajfa-8136	184	5	commonality	commonality	NOUN
ajfa-8136	184	6	on	on	ADP
ajfa-8136	184	7	amman	amman	PROPN
ajfa-8136	184	8	stock	stock	PROPN
ajfa-8136	184	9	exchange	exchange	NOUN
ajfa-8136	184	10	employing	employ	VERB
ajfa-8136	184	11	daily	daily	ADJ
ajfa-8136	184	12	liquidity	liquidity	NOUN
ajfa-8136	184	13	measures	measure	NOUN
ajfa-8136	184	14	.	.	PUNCT
ajfa-8136	185	1	the	the	DET
ajfa-8136	185	2	study	study	NOUN
ajfa-8136	185	3	reported	report	VERB
ajfa-8136	185	4	evidence	evidence	NOUN
ajfa-8136	185	5	of	of	ADP
ajfa-8136	185	6	commonality	commonality	NOUN
ajfa-8136	185	7	across	across	ADP
ajfa-8136	185	8	all	all	DET
ajfa-8136	185	9	size	size	NOUN
ajfa-8136	185	10	based	base	VERB
ajfa-8136	185	11	portfolios	portfolio	NOUN
ajfa-8136	185	12	for	for	ADP
ajfa-8136	185	13	the	the	DET
ajfa-8136	185	14	proxies	proxy	NOUN
ajfa-8136	185	15	used	use	VERB
ajfa-8136	185	16	except	except	SCONJ
ajfa-8136	185	17	for	for	ADP
ajfa-8136	185	18	price	price	NOUN
ajfa-8136	185	19	impact	impact	NOUN
ajfa-8136	185	20	.	.	PUNCT
ajfa-8136	186	1	also	also	ADV
ajfa-8136	186	2	,	,	PUNCT
ajfa-8136	186	3	the	the	DET
ajfa-8136	186	4	study	study	NOUN
ajfa-8136	186	5	reported	report	VERB
ajfa-8136	186	6	weak	weak	ADJ
ajfa-8136	186	7	evidence	evidence	NOUN
ajfa-8136	186	8	of	of	ADP
ajfa-8136	186	9	industry	industry	NOUN
ajfa-8136	186	10	-	-	PUNCT
ajfa-8136	186	11	wide	wide	ADJ
ajfa-8136	186	12	commonality	commonality	NOUN
ajfa-8136	186	13	which	which	PRON
ajfa-8136	186	14	is	be	AUX
ajfa-8136	186	15	in	in	ADP
ajfa-8136	186	16	contrast	contrast	NOUN
ajfa-8136	186	17	with	with	ADP
ajfa-8136	186	18	the	the	DET
ajfa-8136	186	19	previous	previous	ADJ
ajfa-8136	186	20	studies	study	NOUN
ajfa-8136	186	21	.	.	PUNCT
ajfa-8136	187	1	5	5	X
ajfa-8136	187	2	.	.	X
ajfa-8136	187	3	liquidity	liquidity	NOUN
ajfa-8136	187	4	risk	risk	NOUN
ajfa-8136	187	5	and	and	CCONJ
ajfa-8136	187	6	returns	return	NOUN
ajfa-8136	187	7	this	this	DET
ajfa-8136	187	8	section	section	NOUN
ajfa-8136	187	9	studies	study	VERB
ajfa-8136	187	10	the	the	DET
ajfa-8136	187	11	linkage	linkage	NOUN
ajfa-8136	187	12	of	of	ADP
ajfa-8136	187	13	stock	stock	NOUN
ajfa-8136	187	14	liquidity	liquidity	NOUN
ajfa-8136	187	15	,	,	PUNCT
ajfa-8136	187	16	its	its	PRON
ajfa-8136	187	17	variation	variation	NOUN
ajfa-8136	187	18	and	and	CCONJ
ajfa-8136	187	19	the	the	DET
ajfa-8136	187	20	associated	associated	ADJ
ajfa-8136	187	21	returns	return	NOUN
ajfa-8136	187	22	.	.	PUNCT
ajfa-8136	188	1	amihud	amihud	PROPN
ajfa-8136	188	2	and	and	CCONJ
ajfa-8136	188	3	mendelson	mendelson	PROPN
ajfa-8136	188	4	(	(	PUNCT
ajfa-8136	188	5	1986	1986	NUM
ajfa-8136	188	6	)	)	PUNCT
ajfa-8136	188	7	analyze	analyze	VERB
ajfa-8136	188	8	the	the	DET
ajfa-8136	188	9	effect	effect	NOUN
ajfa-8136	188	10	of	of	ADP
ajfa-8136	188	11	bid	bid	NOUN
ajfa-8136	188	12	ask	ask	NOUN
ajfa-8136	188	13	spread	spread	NOUN
ajfa-8136	188	14	or	or	CCONJ
ajfa-8136	188	15	illiquidity	illiquidity	NOUN
ajfa-8136	188	16	on	on	ADP
ajfa-8136	188	17	asset	asset	NOUN
ajfa-8136	188	18	pricing	pricing	NOUN
ajfa-8136	188	19	.	.	PUNCT
ajfa-8136	189	1	the	the	DET
ajfa-8136	189	2	focus	focus	NOUN
ajfa-8136	189	3	of	of	ADP
ajfa-8136	189	4	the	the	DET
ajfa-8136	189	5	study	study	NOUN
ajfa-8136	189	6	was	be	AUX
ajfa-8136	189	7	to	to	PART
ajfa-8136	189	8	explore	explore	VERB
ajfa-8136	189	9	the	the	DET
ajfa-8136	189	10	area	area	NOUN
ajfa-8136	189	11	of	of	ADP
ajfa-8136	189	12	market	market	NOUN
ajfa-8136	189	13	microstructure	microstructure	NOUN
ajfa-8136	189	14	in	in	ADP
ajfa-8136	189	15	order	order	NOUN
ajfa-8136	189	16	to	to	PART
ajfa-8136	189	17	determine	determine	VERB
ajfa-8136	189	18	asset	asset	NOUN
ajfa-8136	189	19	returns	return	NOUN
ajfa-8136	189	20	.	.	PUNCT
ajfa-8136	190	1	their	their	PRON
ajfa-8136	190	2	model	model	NOUN
ajfa-8136	190	3	predicts	predict	VERB
ajfa-8136	190	4	that	that	SCONJ
ajfa-8136	190	5	higher	high	ADJ
ajfa-8136	190	6	spread	spread	ADJ
ajfa-8136	190	7	assets	asset	NOUN
ajfa-8136	190	8	yield	yield	VERB
ajfa-8136	190	9	higher	high	ADJ
ajfa-8136	190	10	expected	expect	VERB
ajfa-8136	190	11	returns	return	NOUN
ajfa-8136	190	12	,	,	PUNCT
ajfa-8136	190	13	net	net	NOUN
ajfa-8136	190	14	of	of	ADP
ajfa-8136	190	15	trading	trading	NOUN
ajfa-8136	190	16	costs	cost	NOUN
ajfa-8136	190	17	.	.	PUNCT
ajfa-8136	191	1	investors	investor	NOUN
ajfa-8136	191	2	hold	hold	VERB
ajfa-8136	191	3	high	high	ADJ
ajfa-8136	191	4	spread	spread	ADJ
ajfa-8136	191	5	assets	asset	NOUN
ajfa-8136	191	6	for	for	ADP
ajfa-8136	191	7	longer	long	ADJ
ajfa-8136	191	8	holding	hold	VERB
ajfa-8136	191	9	period	period	NOUN
ajfa-8136	191	10	because	because	SCONJ
ajfa-8136	191	11	of	of	ADP
ajfa-8136	191	12	the	the	DET
ajfa-8136	191	13	clientele	clientele	PROPN
ajfa-8136	191	14	effect	effect	NOUN
ajfa-8136	191	15	.	.	PUNCT
ajfa-8136	192	1	bali	bali	PROPN
ajfa-8136	192	2	et	et	PROPN
ajfa-8136	192	3	al	al	PROPN
ajfa-8136	192	4	.	.	PROPN
ajfa-8136	193	1	(	(	PUNCT
ajfa-8136	193	2	2013)revealed	2013)reveale	VERB
ajfa-8136	193	3	that	that	SCONJ
ajfa-8136	193	4	stock	stock	NOUN
ajfa-8136	193	5	market	market	NOUN
ajfa-8136	193	6	under	under	NOUN
ajfa-8136	193	7	-	-	PUNCT
ajfa-8136	193	8	reacts	react	NOUN
ajfa-8136	193	9	to	to	ADP
ajfa-8136	193	10	the	the	DET
ajfa-8136	193	11	stock	stock	NOUN
ajfa-8136	193	12	level	level	NOUN
ajfa-8136	193	13	liquidity	liquidity	NOUN
ajfa-8136	193	14	shocks	shock	NOUN
ajfa-8136	193	15	on	on	ADP
ajfa-8136	193	16	nyse	nyse	PROPN
ajfa-8136	193	17	,	,	PUNCT
ajfa-8136	193	18	amex	amex	PROPN
ajfa-8136	193	19	and	and	CCONJ
ajfa-8136	193	20	nasdaq	nasdaq	PROPN
ajfa-8136	193	21	exchanges	exchange	NOUN
ajfa-8136	193	22	.	.	PUNCT
ajfa-8136	194	1	investor	investor	NOUN
ajfa-8136	194	2	inattention	inattention	NOUN
ajfa-8136	194	3	and	and	CCONJ
ajfa-8136	194	4	illiquidity	illiquidity	NOUN
ajfa-8136	194	5	both	both	PRON
ajfa-8136	194	6	drive	drive	VERB
ajfa-8136	194	7	this	this	PRON
ajfa-8136	194	8	under	under	ADP
ajfa-8136	194	9	reaction	reaction	NOUN
ajfa-8136	194	10	.	.	PUNCT
ajfa-8136	195	1	this	this	DET
ajfa-8136	195	2	study	study	NOUN
ajfa-8136	195	3	finds	find	VERB
ajfa-8136	195	4	evidence	evidence	NOUN
ajfa-8136	195	5	on	on	ADP
ajfa-8136	195	6	the	the	DET
ajfa-8136	195	7	mechanism	mechanism	NOUN
ajfa-8136	195	8	of	of	ADP
ajfa-8136	195	9	processing	processing	NOUN
ajfa-8136	195	10	information	information	NOUN
ajfa-8136	195	11	about	about	ADP
ajfa-8136	195	12	stock	stock	NOUN
ajfa-8136	195	13	level	level	NOUN
ajfa-8136	195	14	liquidity	liquidity	NOUN
ajfa-8136	195	15	shocks	shock	NOUN
ajfa-8136	195	16	.	.	PUNCT
ajfa-8136	196	1	they	they	PRON
ajfa-8136	196	2	opined	opine	VERB
ajfa-8136	196	3	that	that	SCONJ
ajfa-8136	196	4	limited	limited	ADJ
ajfa-8136	196	5	investor	investor	NOUN
ajfa-8136	196	6	attention	attention	NOUN
ajfa-8136	196	7	and	and	CCONJ
ajfa-8136	196	8	illiquidity	illiquidity	NOUN
ajfa-8136	196	9	prevents	prevent	VERB
ajfa-8136	196	10	public	public	ADJ
ajfa-8136	196	11	information	information	NOUN
ajfa-8136	196	12	being	be	AUX
ajfa-8136	196	13	incorporated	incorporate	VERB
ajfa-8136	196	14	in	in	ADP
ajfa-8136	196	15	security	security	NOUN
ajfa-8136	196	16	prices	price	NOUN
ajfa-8136	196	17	.	.	PUNCT
ajfa-8136	197	1	bali	bali	PROPN
ajfa-8136	197	2	et	et	PROPN
ajfa-8136	197	3	al	al	PROPN
ajfa-8136	197	4	.	.	PROPN
ajfa-8136	198	1	(	(	PUNCT
ajfa-8136	198	2	2013	2013	NUM
ajfa-8136	198	3	)	)	PUNCT
ajfa-8136	198	4	finds	find	VERB
ajfa-8136	198	5	that	that	SCONJ
ajfa-8136	198	6	immediate	immediate	ADJ
ajfa-8136	198	7	liquidity	liquidity	NOUN
ajfa-8136	198	8	shocks	shock	NOUN
ajfa-8136	198	9	have	have	VERB
ajfa-8136	198	10	positive	positive	ADJ
ajfa-8136	198	11	impact	impact	NOUN
ajfa-8136	198	12	on	on	ADP
ajfa-8136	198	13	contemporaneous	contemporaneous	ADJ
ajfa-8136	198	14	stock	stock	NOUN
ajfa-8136	198	15	returns	return	NOUN
ajfa-8136	198	16	.	.	PUNCT
ajfa-8136	199	1	they	they	PRON
ajfa-8136	199	2	examined	examine	VERB
ajfa-8136	199	3	double	double	ADJ
ajfa-8136	199	4	sorted	sort	VERB
ajfa-8136	199	5	portfolios	portfolio	NOUN
ajfa-8136	199	6	using	use	VERB
ajfa-8136	199	7	fama	fama	PROPN
ajfa-8136	199	8	-	-	PUNCT
ajfa-8136	199	9	macbeth	macbeth	ADJ
ajfa-8136	199	10	regressions	regression	NOUN
ajfa-8136	199	11	to	to	PART
ajfa-8136	199	12	confirm	confirm	VERB
ajfa-8136	199	13	the	the	DET
ajfa-8136	199	14	significant	significant	ADJ
ajfa-8136	199	15	relationship	relationship	NOUN
ajfa-8136	199	16	between	between	ADP
ajfa-8136	199	17	future	future	ADJ
ajfa-8136	199	18	returns	return	NOUN
ajfa-8136	199	19	and	and	CCONJ
ajfa-8136	199	20	liquidity	liquidity	NOUN
ajfa-8136	199	21	shocks	shock	NOUN
ajfa-8136	199	22	using	use	VERB
ajfa-8136	199	23	large	large	ADJ
ajfa-8136	199	24	set	set	NOUN
ajfa-8136	199	25	of	of	ADP
ajfa-8136	199	26	control	control	PROPN
ajfa-8136	199	27	asian	asian	PROPN
ajfa-8136	199	28	journal	journal	PROPN
ajfa-8136	199	29	of	of	ADP
ajfa-8136	199	30	finance	finance	PROPN
ajfa-8136	199	31	&	&	CCONJ
ajfa-8136	199	32	accounting	accounting	PROPN
ajfa-8136	199	33	issn	issn	PROPN
ajfa-8136	199	34	1946	1946	NUM
ajfa-8136	199	35	-	-	PUNCT
ajfa-8136	199	36	052x	052x	NOUN
ajfa-8136	199	37	2015	2015	NUM
ajfa-8136	199	38	,	,	PUNCT
ajfa-8136	199	39	vol	vol	NOUN
ajfa-8136	199	40	.	.	PROPN
ajfa-8136	200	1	7	7	NUM
ajfa-8136	200	2	,	,	PUNCT
ajfa-8136	200	3	no	no	INTJ
ajfa-8136	200	4	.	.	NOUN
ajfa-8136	200	5	2	2	NUM
ajfa-8136	200	6	44	44	NUM
ajfa-8136	200	7	variables	variable	NOUN
ajfa-8136	200	8	example	example	NOUN
ajfa-8136	200	9	level	level	NOUN
ajfa-8136	200	10	of	of	ADP
ajfa-8136	200	11	illiquidity	illiquidity	NOUN
ajfa-8136	200	12	,	,	PUNCT
ajfa-8136	200	13	systematic	systematic	ADJ
ajfa-8136	200	14	liquidity	liquidity	NOUN
ajfa-8136	200	15	risk	risk	NOUN
ajfa-8136	200	16	,	,	PUNCT
ajfa-8136	200	17	size	size	NOUN
ajfa-8136	200	18	,	,	PUNCT
ajfa-8136	200	19	book	book	NOUN
ajfa-8136	200	20	to	to	ADP
ajfa-8136	200	21	market	market	NOUN
ajfa-8136	200	22	,	,	PUNCT
ajfa-8136	200	23	price	price	NOUN
ajfa-8136	200	24	momentum	momentum	NOUN
ajfa-8136	200	25	etc	etc	X
ajfa-8136	200	26	.	.	X
ajfa-8136	200	27	pastor	pastor	NOUN
ajfa-8136	200	28	and	and	CCONJ
ajfa-8136	200	29	stambaugh	stambaugh	NOUN
ajfa-8136	200	30	(	(	PUNCT
ajfa-8136	200	31	2001	2001	NUM
ajfa-8136	200	32	)	)	PUNCT
ajfa-8136	200	33	find	find	VERB
ajfa-8136	200	34	evidence	evidence	NOUN
ajfa-8136	200	35	that	that	SCONJ
ajfa-8136	200	36	market	market	NOUN
ajfa-8136	200	37	-	-	PUNCT
ajfa-8136	200	38	wide	wide	ADJ
ajfa-8136	200	39	liquidity	liquidity	NOUN
ajfa-8136	200	40	is	be	AUX
ajfa-8136	200	41	a	a	DET
ajfa-8136	200	42	key	key	ADJ
ajfa-8136	200	43	state	state	NOUN
ajfa-8136	200	44	variable	variable	NOUN
ajfa-8136	200	45	for	for	ADP
ajfa-8136	200	46	asset	asset	NOUN
ajfa-8136	200	47	pricing	pricing	NOUN
ajfa-8136	200	48	on	on	ADP
ajfa-8136	200	49	nyse	nyse	PROPN
ajfa-8136	200	50	,	,	PUNCT
ajfa-8136	200	51	amex	amex	PROPN
ajfa-8136	200	52	and	and	CCONJ
ajfa-8136	200	53	nasdaq	nasdaq	PROPN
ajfa-8136	200	54	.	.	PUNCT
ajfa-8136	201	1	stock	stock	PROPN
ajfa-8136	201	2	expected	expect	VERB
ajfa-8136	201	3	returns	return	NOUN
ajfa-8136	201	4	are	be	AUX
ajfa-8136	201	5	cross	cross	ADJ
ajfa-8136	201	6	-	-	ADJ
ajfa-8136	201	7	sectionally	sectionally	ADV
ajfa-8136	201	8	related	relate	VERB
ajfa-8136	201	9	to	to	ADP
ajfa-8136	201	10	the	the	DET
ajfa-8136	201	11	sensitivities	sensitivity	NOUN
ajfa-8136	201	12	of	of	ADP
ajfa-8136	201	13	the	the	DET
ajfa-8136	201	14	returns	return	NOUN
ajfa-8136	201	15	to	to	ADP
ajfa-8136	201	16	fluctuations	fluctuation	NOUN
ajfa-8136	201	17	in	in	ADP
ajfa-8136	201	18	aggregate	aggregate	ADJ
ajfa-8136	201	19	liquidity	liquidity	NOUN
ajfa-8136	201	20	.	.	PUNCT
ajfa-8136	202	1	faff	faff	PROPN
ajfa-8136	202	2	et	et	PROPN
ajfa-8136	202	3	al	al	PROPN
ajfa-8136	202	4	.	.	PROPN
ajfa-8136	203	1	(	(	PUNCT
ajfa-8136	203	2	2010	2010	NUM
ajfa-8136	203	3	)	)	PUNCT
ajfa-8136	203	4	analyzed	analyze	VERB
ajfa-8136	203	5	the	the	DET
ajfa-8136	203	6	effect	effect	NOUN
ajfa-8136	203	7	of	of	ADP
ajfa-8136	203	8	liquidity	liquidity	NOUN
ajfa-8136	203	9	on	on	ADP
ajfa-8136	203	10	stock	stock	NOUN
ajfa-8136	203	11	returns	return	NOUN
ajfa-8136	203	12	on	on	ADP
ajfa-8136	203	13	tokyo	tokyo	PROPN
ajfa-8136	203	14	stock	stock	NOUN
ajfa-8136	203	15	exchange	exchange	NOUN
ajfa-8136	203	16	(	(	PUNCT
ajfa-8136	203	17	tse	tse	PROPN
ajfa-8136	203	18	)	)	PUNCT
ajfa-8136	203	19	.	.	PUNCT
ajfa-8136	204	1	negative	negative	ADJ
ajfa-8136	204	2	association	association	PROPN
ajfa-8136	204	3	is	be	AUX
ajfa-8136	204	4	reported	report	VERB
ajfa-8136	204	5	between	between	ADP
ajfa-8136	204	6	expected	expect	VERB
ajfa-8136	204	7	stock	stock	NOUN
ajfa-8136	204	8	returns	return	NOUN
ajfa-8136	204	9	and	and	CCONJ
ajfa-8136	204	10	liquidity	liquidity	NOUN
ajfa-8136	204	11	measures	measure	NOUN
ajfa-8136	204	12	even	even	ADV
ajfa-8136	204	13	after	after	ADP
ajfa-8136	204	14	factoring	factor	VERB
ajfa-8136	204	15	risk	risk	NOUN
ajfa-8136	204	16	adjustments	adjustment	NOUN
ajfa-8136	204	17	in	in	ADP
ajfa-8136	204	18	place	place	NOUN
ajfa-8136	204	19	of	of	ADP
ajfa-8136	204	20	raw	raw	ADJ
ajfa-8136	204	21	returns	return	NOUN
ajfa-8136	204	22	.	.	PUNCT
ajfa-8136	205	1	this	this	DET
ajfa-8136	205	2	study	study	NOUN
ajfa-8136	205	3	found	find	VERB
ajfa-8136	205	4	that	that	SCONJ
ajfa-8136	205	5	liquidity	liquidity	NOUN
ajfa-8136	205	6	is	be	AUX
ajfa-8136	205	7	priced	price	VERB
ajfa-8136	205	8	during	during	ADP
ajfa-8136	205	9	expansionary	expansionary	ADJ
ajfa-8136	205	10	phase	phase	NOUN
ajfa-8136	205	11	of	of	ADP
ajfa-8136	205	12	business	business	NOUN
ajfa-8136	205	13	cycle	cycle	NOUN
ajfa-8136	205	14	but	but	CCONJ
ajfa-8136	205	15	not	not	PART
ajfa-8136	205	16	significantly	significantly	ADV
ajfa-8136	205	17	priced	price	VERB
ajfa-8136	205	18	during	during	ADP
ajfa-8136	205	19	contraction	contraction	NOUN
ajfa-8136	205	20	phase	phase	NOUN
ajfa-8136	205	21	.	.	PUNCT
ajfa-8136	206	1	this	this	PRON
ajfa-8136	206	2	is	be	AUX
ajfa-8136	206	3	inconsistent	inconsistent	ADJ
ajfa-8136	206	4	with	with	ADP
ajfa-8136	206	5	the	the	DET
ajfa-8136	206	6	notion	notion	NOUN
ajfa-8136	206	7	that	that	SCONJ
ajfa-8136	206	8	liquidity	liquidity	NOUN
ajfa-8136	206	9	is	be	AUX
ajfa-8136	206	10	more	more	ADV
ajfa-8136	206	11	important	important	ADJ
ajfa-8136	206	12	in	in	ADP
ajfa-8136	206	13	bad	bad	ADJ
ajfa-8136	206	14	time	time	NOUN
ajfa-8136	206	15	which	which	PRON
ajfa-8136	206	16	is	be	AUX
ajfa-8136	206	17	a	a	DET
ajfa-8136	206	18	kind	kind	NOUN
ajfa-8136	206	19	of	of	ADP
ajfa-8136	206	20	liquidity	liquidity	NOUN
ajfa-8136	206	21	puzzle	puzzle	NOUN
ajfa-8136	206	22	.	.	PUNCT
ajfa-8136	207	1	narayan	narayan	PROPN
ajfa-8136	207	2	and	and	CCONJ
ajfa-8136	207	3	zheng	zheng	PROPN
ajfa-8136	207	4	(	(	PUNCT
ajfa-8136	207	5	2011	2011	NUM
ajfa-8136	207	6	)	)	PUNCT
ajfa-8136	207	7	investigated	investigate	VERB
ajfa-8136	207	8	the	the	DET
ajfa-8136	207	9	impact	impact	NOUN
ajfa-8136	207	10	of	of	ADP
ajfa-8136	207	11	liquidity	liquidity	NOUN
ajfa-8136	207	12	on	on	ADP
ajfa-8136	207	13	returns	return	NOUN
ajfa-8136	207	14	on	on	ADP
ajfa-8136	207	15	shanghai	shanghai	PROPN
ajfa-8136	207	16	stock	stock	PROPN
ajfa-8136	207	17	exchange	exchange	PROPN
ajfa-8136	207	18	(	(	PUNCT
ajfa-8136	207	19	shse	shse	PROPN
ajfa-8136	207	20	)	)	PUNCT
ajfa-8136	207	21	and	and	CCONJ
ajfa-8136	207	22	the	the	DET
ajfa-8136	207	23	shenzhen	shenzhen	PROPN
ajfa-8136	207	24	stock	stock	PROPN
ajfa-8136	207	25	exchange	exchange	PROPN
ajfa-8136	207	26	(	(	PUNCT
ajfa-8136	207	27	szse	szse	NOUN
ajfa-8136	207	28	)	)	PUNCT
ajfa-8136	207	29	.	.	PUNCT
ajfa-8136	208	1	liquidity	liquidity	NOUN
ajfa-8136	208	2	has	have	VERB
ajfa-8136	208	3	negative	negative	ADJ
ajfa-8136	208	4	impact	impact	NOUN
ajfa-8136	208	5	on	on	ADP
ajfa-8136	208	6	returns	return	NOUN
ajfa-8136	208	7	more	more	ADV
ajfa-8136	208	8	strongly	strongly	ADV
ajfa-8136	208	9	on	on	ADP
ajfa-8136	208	10	shse	shse	NOUN
ajfa-8136	208	11	in	in	ADP
ajfa-8136	208	12	comparison	comparison	NOUN
ajfa-8136	208	13	to	to	ADP
ajfa-8136	208	14	szse	szse	NOUN
ajfa-8136	208	15	.	.	PUNCT
ajfa-8136	209	1	uddin	uddin	PROPN
ajfa-8136	209	2	(	(	PUNCT
ajfa-8136	209	3	2009	2009	NUM
ajfa-8136	209	4	)	)	PUNCT
ajfa-8136	209	5	examines	examine	VERB
ajfa-8136	209	6	the	the	DET
ajfa-8136	209	7	relationship	relationship	NOUN
ajfa-8136	209	8	between	between	ADP
ajfa-8136	209	9	relative	relative	ADJ
ajfa-8136	209	10	measure	measure	NOUN
ajfa-8136	209	11	of	of	ADP
ajfa-8136	209	12	liquidity	liquidity	NOUN
ajfa-8136	209	13	and	and	CCONJ
ajfa-8136	209	14	returns	return	NOUN
ajfa-8136	209	15	on	on	ADP
ajfa-8136	209	16	nyse	nyse	PROPN
ajfa-8136	209	17	and	and	CCONJ
ajfa-8136	209	18	amex	amex	PROPN
ajfa-8136	209	19	using	use	VERB
ajfa-8136	209	20	a	a	DET
ajfa-8136	209	21	relative	relative	ADJ
ajfa-8136	209	22	measure	measure	NOUN
ajfa-8136	209	23	of	of	ADP
ajfa-8136	209	24	liquidity	liquidity	NOUN
ajfa-8136	209	25	rml	rml	NOUN
ajfa-8136	209	26	instead	instead	ADV
ajfa-8136	209	27	of	of	ADP
ajfa-8136	209	28	absolute	absolute	ADJ
ajfa-8136	209	29	measure	measure	NOUN
ajfa-8136	209	30	.	.	PUNCT
ajfa-8136	210	1	rml	rml	NOUN
ajfa-8136	210	2	links	link	NOUN
ajfa-8136	210	3	individual	individual	ADJ
ajfa-8136	210	4	stock	stock	NOUN
ajfa-8136	210	5	liquidity	liquidity	NOUN
ajfa-8136	210	6	with	with	ADP
ajfa-8136	210	7	market	market	NOUN
ajfa-8136	210	8	wide	wide	ADJ
ajfa-8136	210	9	liquidity	liquidity	NOUN
ajfa-8136	210	10	which	which	PRON
ajfa-8136	210	11	more	more	ADV
ajfa-8136	210	12	closely	closely	ADV
ajfa-8136	210	13	represents	represent	VERB
ajfa-8136	210	14	systematic	systematic	ADJ
ajfa-8136	210	15	liquidity	liquidity	NOUN
ajfa-8136	210	16	risk	risk	NOUN
ajfa-8136	210	17	.	.	PUNCT
ajfa-8136	211	1	he	he	PRON
ajfa-8136	211	2	argued	argue	VERB
ajfa-8136	211	3	that	that	SCONJ
ajfa-8136	211	4	a	a	DET
ajfa-8136	211	5	stock	stock	NOUN
ajfa-8136	211	6	can	can	AUX
ajfa-8136	211	7	not	not	PART
ajfa-8136	211	8	be	be	AUX
ajfa-8136	211	9	illiquid	illiquid	ADJ
ajfa-8136	211	10	just	just	ADV
ajfa-8136	211	11	because	because	SCONJ
ajfa-8136	211	12	it	it	PRON
ajfa-8136	211	13	is	be	AUX
ajfa-8136	211	14	not	not	PART
ajfa-8136	211	15	traded	trade	VERB
ajfa-8136	211	16	frequently	frequently	ADV
ajfa-8136	211	17	if	if	SCONJ
ajfa-8136	211	18	the	the	DET
ajfa-8136	211	19	average	average	ADJ
ajfa-8136	211	20	market	market	NOUN
ajfa-8136	211	21	liquidity	liquidity	NOUN
ajfa-8136	211	22	as	as	ADP
ajfa-8136	211	23	a	a	DET
ajfa-8136	211	24	whole	whole	NOUN
ajfa-8136	211	25	is	be	AUX
ajfa-8136	211	26	low	low	ADJ
ajfa-8136	211	27	.	.	PUNCT
ajfa-8136	212	1	so	so	ADV
ajfa-8136	212	2	,	,	PUNCT
ajfa-8136	212	3	the	the	DET
ajfa-8136	212	4	study	study	NOUN
ajfa-8136	212	5	claims	claim	VERB
ajfa-8136	212	6	that	that	PRON
ajfa-8136	212	7	rml	rml	NOUN
ajfa-8136	212	8	is	be	AUX
ajfa-8136	212	9	a	a	DET
ajfa-8136	212	10	better	well	ADJ
ajfa-8136	212	11	measure	measure	NOUN
ajfa-8136	212	12	of	of	ADP
ajfa-8136	212	13	liquidity	liquidity	NOUN
ajfa-8136	212	14	.	.	PUNCT
ajfa-8136	213	1	rubio	rubio	PROPN
ajfa-8136	213	2	et	et	PROPN
ajfa-8136	213	3	al	al	PROPN
ajfa-8136	213	4	.	.	PROPN
ajfa-8136	214	1	(	(	PUNCT
ajfa-8136	214	2	2005	2005	NUM
ajfa-8136	214	3	)	)	PUNCT
ajfa-8136	214	4	empirically	empirically	ADV
ajfa-8136	214	5	studied	study	VERB
ajfa-8136	214	6	the	the	DET
ajfa-8136	214	7	explanatory	explanatory	ADJ
ajfa-8136	214	8	power	power	NOUN
ajfa-8136	214	9	of	of	ADP
ajfa-8136	214	10	systematic	systematic	ADJ
ajfa-8136	214	11	liquidity	liquidity	NOUN
ajfa-8136	214	12	on	on	ADP
ajfa-8136	214	13	asset	asset	NOUN
ajfa-8136	214	14	pricing	pricing	NOUN
ajfa-8136	214	15	on	on	ADP
ajfa-8136	214	16	spanish	spanish	ADJ
ajfa-8136	214	17	stock	stock	NOUN
ajfa-8136	214	18	market	market	NOUN
ajfa-8136	214	19	.	.	PUNCT
ajfa-8136	215	1	based	base	VERB
ajfa-8136	215	2	on	on	ADP
ajfa-8136	215	3	10	10	NUM
ajfa-8136	215	4	years	year	NOUN
ajfa-8136	215	5	dataset	dataset	VERB
ajfa-8136	215	6	,	,	PUNCT
ajfa-8136	215	7	the	the	DET
ajfa-8136	215	8	study	study	NOUN
ajfa-8136	215	9	cross	cross	NOUN
ajfa-8136	215	10	sectionally	sectionally	ADV
ajfa-8136	215	11	regressed	regress	VERB
ajfa-8136	215	12	average	average	ADJ
ajfa-8136	215	13	returns	return	NOUN
ajfa-8136	215	14	regressed	regress	VERB
ajfa-8136	215	15	against	against	ADP
ajfa-8136	215	16	betas	beta	NOUN
ajfa-8136	215	17	computed	compute	VERB
ajfa-8136	215	18	relative	relative	ADJ
ajfa-8136	215	19	to	to	ADP
ajfa-8136	215	20	market	market	NOUN
ajfa-8136	215	21	wide	wide	ADJ
ajfa-8136	215	22	liquidity	liquidity	NOUN
ajfa-8136	215	23	risk	risk	NOUN
ajfa-8136	215	24	factors	factor	NOUN
ajfa-8136	215	25	.	.	PUNCT
ajfa-8136	216	1	market	market	NOUN
ajfa-8136	216	2	wide	wide	ADJ
ajfa-8136	216	3	liquidity	liquidity	NOUN
ajfa-8136	216	4	is	be	AUX
ajfa-8136	216	5	a	a	DET
ajfa-8136	216	6	plausible	plausible	ADJ
ajfa-8136	216	7	factor	factor	NOUN
ajfa-8136	216	8	to	to	PART
ajfa-8136	216	9	be	be	AUX
ajfa-8136	216	10	included	include	VERB
ajfa-8136	216	11	in	in	ADP
ajfa-8136	216	12	asset	asset	NOUN
ajfa-8136	216	13	pricing	pricing	NOUN
ajfa-8136	216	14	models	model	NOUN
ajfa-8136	216	15	but	but	CCONJ
ajfa-8136	216	16	as	as	ADP
ajfa-8136	216	17	per	per	ADP
ajfa-8136	216	18	this	this	DET
ajfa-8136	216	19	study	study	NOUN
ajfa-8136	216	20	none	none	NOUN
ajfa-8136	216	21	of	of	ADP
ajfa-8136	216	22	the	the	DET
ajfa-8136	216	23	liquidity	liquidity	NOUN
ajfa-8136	216	24	factors	factor	NOUN
ajfa-8136	216	25	seems	seem	VERB
ajfa-8136	216	26	to	to	PART
ajfa-8136	216	27	be	be	AUX
ajfa-8136	216	28	priced	price	VERB
ajfa-8136	216	29	in	in	ADP
ajfa-8136	216	30	spanish	spanish	ADJ
ajfa-8136	216	31	stock	stock	NOUN
ajfa-8136	216	32	market	market	NOUN
ajfa-8136	216	33	.	.	PUNCT
ajfa-8136	217	1	chordia	chordia	VERB
ajfa-8136	217	2	et	et	PROPN
ajfa-8136	217	3	al	al	PROPN
ajfa-8136	217	4	.	.	PROPN
ajfa-8136	218	1	(	(	PUNCT
ajfa-8136	218	2	2001	2001	NUM
ajfa-8136	218	3	)	)	PUNCT
ajfa-8136	218	4	demonstrates	demonstrate	VERB
ajfa-8136	218	5	the	the	DET
ajfa-8136	218	6	importance	importance	NOUN
ajfa-8136	218	7	of	of	ADP
ajfa-8136	218	8	trading	trading	NOUN
ajfa-8136	218	9	activity	activity	NOUN
ajfa-8136	218	10	related	relate	VERB
ajfa-8136	218	11	variables	variable	NOUN
ajfa-8136	218	12	in	in	ADP
ajfa-8136	218	13	the	the	DET
ajfa-8136	218	14	cross	cross	NOUN
ajfa-8136	218	15	section	section	NOUN
ajfa-8136	218	16	of	of	ADP
ajfa-8136	218	17	expected	expect	VERB
ajfa-8136	218	18	returns	return	NOUN
ajfa-8136	218	19	.	.	PUNCT
ajfa-8136	219	1	strong	strong	ADJ
ajfa-8136	219	2	negative	negative	ADJ
ajfa-8136	219	3	relationship	relationship	NOUN
ajfa-8136	219	4	is	be	AUX
ajfa-8136	219	5	reported	report	VERB
ajfa-8136	219	6	between	between	ADP
ajfa-8136	219	7	both	both	CCONJ
ajfa-8136	219	8	the	the	DET
ajfa-8136	219	9	level	level	NOUN
ajfa-8136	219	10	of	of	ADP
ajfa-8136	219	11	liquidity	liquidity	NOUN
ajfa-8136	219	12	,	,	PUNCT
ajfa-8136	219	13	its	its	PRON
ajfa-8136	219	14	volatility	volatility	NOUN
ajfa-8136	219	15	and	and	CCONJ
ajfa-8136	219	16	expected	expect	VERB
ajfa-8136	219	17	returns	return	NOUN
ajfa-8136	219	18	using	use	VERB
ajfa-8136	219	19	monthly	monthly	ADJ
ajfa-8136	219	20	data	datum	NOUN
ajfa-8136	219	21	from	from	ADP
ajfa-8136	219	22	nyse	nyse	PROPN
ajfa-8136	219	23	and	and	CCONJ
ajfa-8136	219	24	amex	amex	PROPN
ajfa-8136	219	25	stock	stock	NOUN
ajfa-8136	219	26	exchanges	exchange	NOUN
ajfa-8136	219	27	.	.	PUNCT
ajfa-8136	220	1	petkovaet	petkovaet	PROPN
ajfa-8136	220	2	al	al	PROPN
ajfa-8136	220	3	.	.	PUNCT
ajfa-8136	221	1	(	(	PUNCT
ajfa-8136	221	2	2011	2011	NUM
ajfa-8136	221	3	)	)	PUNCT
ajfa-8136	221	4	investigates	investigate	VERB
ajfa-8136	221	5	relationship	relationship	NOUN
ajfa-8136	221	6	between	between	ADP
ajfa-8136	221	7	volatility	volatility	NOUN
ajfa-8136	221	8	of	of	ADP
ajfa-8136	221	9	liquidity	liquidity	NOUN
ajfa-8136	221	10	and	and	CCONJ
ajfa-8136	221	11	expected	expect	VERB
ajfa-8136	221	12	returns	return	NOUN
ajfa-8136	221	13	employing	employ	VERB
ajfa-8136	221	14	liquidity	liquidity	NOUN
ajfa-8136	221	15	proxy	proxy	NOUN
ajfa-8136	221	16	as	as	SCONJ
ajfa-8136	221	17	given	give	VERB
ajfa-8136	221	18	by	by	ADP
ajfa-8136	221	19	amihud	amihud	PROPN
ajfa-8136	221	20	(	(	PUNCT
ajfa-8136	221	21	2002	2002	NUM
ajfa-8136	221	22	)	)	PUNCT
ajfa-8136	221	23	on	on	ADP
ajfa-8136	221	24	daily	daily	ADJ
ajfa-8136	221	25	data	datum	NOUN
ajfa-8136	221	26	derived	derive	VERB
ajfa-8136	221	27	from	from	ADP
ajfa-8136	221	28	nyse	nyse	PROPN
ajfa-8136	221	29	and	and	CCONJ
ajfa-8136	221	30	amex	amex	PROPN
ajfa-8136	221	31	stock	stock	NOUN
ajfa-8136	221	32	exchanges	exchange	NOUN
ajfa-8136	221	33	.	.	PUNCT
ajfa-8136	222	1	positive	positive	ADJ
ajfa-8136	222	2	and	and	CCONJ
ajfa-8136	222	3	robust	robust	ADJ
ajfa-8136	222	4	relationship	relationship	NOUN
ajfa-8136	222	5	is	be	AUX
ajfa-8136	222	6	documented	document	VERB
ajfa-8136	222	7	between	between	ADP
ajfa-8136	222	8	volatility	volatility	NOUN
ajfa-8136	222	9	of	of	ADP
ajfa-8136	222	10	liquidity	liquidity	NOUN
ajfa-8136	222	11	and	and	CCONJ
ajfa-8136	222	12	expected	expect	VERB
ajfa-8136	222	13	returns	return	NOUN
ajfa-8136	222	14	in	in	ADP
ajfa-8136	222	15	regressions	regression	NOUN
ajfa-8136	222	16	after	after	ADP
ajfa-8136	222	17	controlling	control	VERB
ajfa-8136	222	18	for	for	ADP
ajfa-8136	222	19	various	various	ADJ
ajfa-8136	222	20	variables	variable	NOUN
ajfa-8136	222	21	,	,	PUNCT
ajfa-8136	222	22	systematic	systematic	ADJ
ajfa-8136	222	23	risk	risk	NOUN
ajfa-8136	222	24	factors	factor	NOUN
ajfa-8136	222	25	,	,	PUNCT
ajfa-8136	222	26	and	and	CCONJ
ajfa-8136	222	27	different	different	ADJ
ajfa-8136	222	28	sub	sub	NOUN
ajfa-8136	222	29	periods	period	NOUN
ajfa-8136	222	30	.	.	PUNCT
ajfa-8136	223	1	asian	asian	ADJ
ajfa-8136	223	2	journal	journal	PROPN
ajfa-8136	223	3	of	of	ADP
ajfa-8136	223	4	finance	finance	PROPN
ajfa-8136	223	5	&	&	CCONJ
ajfa-8136	223	6	accounting	accounting	PROPN
ajfa-8136	223	7	issn	issn	PROPN
ajfa-8136	223	8	1946	1946	NUM
ajfa-8136	223	9	-	-	PUNCT
ajfa-8136	223	10	052x	052x	NOUN
ajfa-8136	223	11	2015	2015	NUM
ajfa-8136	223	12	,	,	PUNCT
ajfa-8136	223	13	vol	vol	NOUN
ajfa-8136	223	14	.	.	PROPN
ajfa-8136	223	15	7	7	NUM
ajfa-8136	223	16	,	,	PUNCT
ajfa-8136	223	17	no	no	INTJ
ajfa-8136	223	18	.	.	NOUN
ajfa-8136	223	19	2	2	NUM
ajfa-8136	223	20	45	45	NUM
ajfa-8136	223	21	table	table	NOUN
ajfa-8136	223	22	4	4	NUM
ajfa-8136	223	23	.	.	PUNCT
ajfa-8136	224	1	summaryof	summaryof	NOUN
ajfa-8136	224	2	empirical	empirical	ADJ
ajfa-8136	224	3	studies	study	NOUN
ajfa-8136	224	4	on	on	ADP
ajfa-8136	224	5	liquidity	liquidity	NOUN
ajfa-8136	224	6	risk	risk	NOUN
ajfa-8136	224	7	and	and	CCONJ
ajfa-8136	224	8	returns	return	NOUN
ajfa-8136	224	9	author/	author/	NUM
ajfa-8136	224	10	’s	’s	PART
ajfa-8136	224	11	(	(	PUNCT
ajfa-8136	224	12	year	year	NOUN
ajfa-8136	224	13	)	)	PUNCT
ajfa-8136	224	14	market	market	NOUN
ajfa-8136	224	15	remarks	remark	NOUN
ajfa-8136	224	16	amihud	amihud	PROPN
ajfa-8136	224	17	(	(	PUNCT
ajfa-8136	224	18	2002	2002	NUM
ajfa-8136	224	19	)	)	PUNCT
ajfa-8136	224	20	usanyse	usanyse	PROPN
ajfa-8136	224	21	,	,	PUNCT
ajfa-8136	224	22	amex	amex	PROPN
ajfa-8136	224	23	illiquidity	illiquidity	NOUN
ajfa-8136	224	24	measure	measure	NOUN
ajfa-8136	224	25	,	,	PUNCT
ajfa-8136	224	26	small	small	ADJ
ajfa-8136	224	27	firms	firm	NOUN
ajfa-8136	224	28	effect	effect	VERB
ajfa-8136	224	29	,	,	PUNCT
ajfa-8136	224	30	expected	expect	VERB
ajfa-8136	224	31	market	market	NOUN
ajfa-8136	224	32	illiquidity	illiquidity	NOUN
ajfa-8136	224	33	positively	positively	ADV
ajfa-8136	224	34	affects	affect	VERB
ajfa-8136	224	35	excess	excess	ADJ
ajfa-8136	224	36	returns	return	NOUN
ajfa-8136	224	37	watanabe	watanabe	PROPN
ajfa-8136	224	38	and	and	CCONJ
ajfa-8136	224	39	watanabe	watanabe	PROPN
ajfa-8136	224	40	(	(	PUNCT
ajfa-8136	224	41	2008	2008	NUM
ajfa-8136	224	42	)	)	PUNCT
ajfa-8136	224	43	usanyse	usanyse	PROPN
ajfa-8136	224	44	,	,	PUNCT
ajfa-8136	224	45	amex	amex	PROPN
ajfa-8136	224	46	dynamics	dynamic	NOUN
ajfa-8136	224	47	of	of	ADP
ajfa-8136	224	48	liquidity	liquidity	NOUN
ajfa-8136	224	49	betas	beta	NOUN
ajfa-8136	224	50	faff	faff	VERB
ajfa-8136	224	51	et	et	PROPN
ajfa-8136	224	52	al	al	PROPN
ajfa-8136	224	53	.	.	PROPN
ajfa-8136	225	1	(	(	PUNCT
ajfa-8136	225	2	2010	2010	NUM
ajfa-8136	225	3	)	)	PUNCT
ajfa-8136	225	4	japantse	japantse	VERB
ajfa-8136	225	5	negative	negative	ADJ
ajfa-8136	225	6	relationship	relationship	NOUN
ajfa-8136	225	7	between	between	ADP
ajfa-8136	225	8	liquidity	liquidity	NOUN
ajfa-8136	225	9	proxies	proxy	NOUN
ajfa-8136	225	10	and	and	CCONJ
ajfa-8136	225	11	returns	return	NOUN
ajfa-8136	225	12	,	,	PUNCT
ajfa-8136	225	13	impact	impact	NOUN
ajfa-8136	225	14	of	of	ADP
ajfa-8136	225	15	business	business	NOUN
ajfa-8136	225	16	cycles	cycle	NOUN
ajfa-8136	225	17	narayan	narayan	NOUN
ajfa-8136	225	18	and	and	CCONJ
ajfa-8136	225	19	zheng	zheng	PROPN
ajfa-8136	225	20	(	(	PUNCT
ajfa-8136	225	21	2011	2011	NUM
ajfa-8136	225	22	)	)	PUNCT
ajfa-8136	225	23	chinashse	chinashse	PROPN
ajfa-8136	225	24	,	,	PUNCT
ajfa-8136	225	25	shze	shze	PROPN
ajfa-8136	225	26	liquidity	liquidity	PROPN
ajfa-8136	225	27	have	have	VERB
ajfa-8136	225	28	negative	negative	ADJ
ajfa-8136	225	29	effect	effect	NOUN
ajfa-8136	225	30	on	on	ADP
ajfa-8136	225	31	returns	return	NOUN
ajfa-8136	225	32	,	,	PUNCT
ajfa-8136	225	33	not	not	PART
ajfa-8136	225	34	robust	robust	ADJ
ajfa-8136	225	35	across	across	ADP
ajfa-8136	225	36	the	the	DET
ajfa-8136	225	37	three	three	NUM
ajfa-8136	225	38	proxies	proxy	NOUN
ajfa-8136	225	39	petkovaet	petkovaet	NOUN
ajfa-8136	225	40	al	al	PROPN
ajfa-8136	225	41	.	.	PUNCT
ajfa-8136	226	1	(	(	PUNCT
ajfa-8136	226	2	2011	2011	NUM
ajfa-8136	226	3	)	)	PUNCT
ajfa-8136	226	4	usanyse	usanyse	PROPN
ajfa-8136	226	5	,	,	PUNCT
ajfa-8136	226	6	amex	amex	PROPN
ajfa-8136	226	7	idiosyncratic	idiosyncratic	ADJ
ajfa-8136	226	8	liquidity	liquidity	NOUN
ajfa-8136	226	9	risk	risk	NOUN
ajfa-8136	226	10	also	also	ADV
ajfa-8136	226	11	positively	positively	ADV
ajfa-8136	226	12	priced	price	VERB
ajfa-8136	226	13	in	in	ADP
ajfa-8136	226	14	stock	stock	NOUN
ajfa-8136	226	15	returns	return	NOUN
ajfa-8136	226	16	fu	fu	PROPN
ajfa-8136	226	17	et	et	PROPN
ajfa-8136	226	18	al	al	PROPN
ajfa-8136	226	19	.	.	PROPN
ajfa-8136	227	1	(	(	PUNCT
ajfa-8136	227	2	2012	2012	NUM
ajfa-8136	227	3	)	)	PUNCT
ajfa-8136	227	4	usanyse	usanyse	PROPN
ajfa-8136	227	5	,	,	PUNCT
ajfa-8136	227	6	amex	amex	PROPN
ajfa-8136	227	7	,	,	PUNCT
ajfa-8136	227	8	nasdaq	nasdaq	PROPN
ajfa-8136	227	9	liquidity	liquidity	NOUN
ajfa-8136	227	10	change	change	NOUN
ajfa-8136	227	11	predicts	predicts	AUX
ajfa-8136	227	12	cross	cross	VERB
ajfa-8136	227	13	sectional	sectional	ADJ
ajfa-8136	227	14	stock	stock	NOUN
ajfa-8136	227	15	returns	return	NOUN
ajfa-8136	227	16	source	source	NOUN
ajfa-8136	227	17	:	:	PUNCT
ajfa-8136	227	18	compiled	compile	VERB
ajfa-8136	227	19	by	by	ADP
ajfa-8136	227	20	authors	author	NOUN
ajfa-8136	227	21	from	from	ADP
ajfa-8136	227	22	cited	cite	VERB
ajfa-8136	227	23	research	research	NOUN
ajfa-8136	227	24	articles	article	NOUN
ajfa-8136	227	25	6	6	NUM
ajfa-8136	227	26	.	.	PUNCT
ajfa-8136	227	27	liquidity	liquidity	NOUN
ajfa-8136	227	28	and	and	CCONJ
ajfa-8136	227	29	assets	asset	NOUN
ajfa-8136	227	30	pricing	pricing	NOUN
ajfa-8136	227	31	financial	financial	ADJ
ajfa-8136	227	32	analysts	analyst	NOUN
ajfa-8136	227	33	consider	consider	VERB
ajfa-8136	227	34	liquidity	liquidity	NOUN
ajfa-8136	227	35	as	as	ADP
ajfa-8136	227	36	a	a	DET
ajfa-8136	227	37	driver	driver	NOUN
ajfa-8136	227	38	in	in	ADP
ajfa-8136	227	39	affecting	affect	VERB
ajfa-8136	227	40	price	price	NOUN
ajfa-8136	227	41	of	of	ADP
ajfa-8136	227	42	the	the	DET
ajfa-8136	227	43	stocks	stock	NOUN
ajfa-8136	227	44	while	while	SCONJ
ajfa-8136	227	45	making	make	VERB
ajfa-8136	227	46	investment	investment	NOUN
ajfa-8136	227	47	portfolios	portfolio	NOUN
ajfa-8136	227	48	(	(	PUNCT
ajfa-8136	227	49	amihud	amihud	ADJ
ajfa-8136	227	50	and	and	CCONJ
ajfa-8136	227	51	medelson	medelson	NOUN
ajfa-8136	227	52	,	,	PUNCT
ajfa-8136	227	53	1991	1991	NUM
ajfa-8136	227	54	)	)	PUNCT
ajfa-8136	227	55	.	.	PUNCT
ajfa-8136	228	1	this	this	DET
ajfa-8136	228	2	section	section	NOUN
ajfa-8136	228	3	studies	study	VERB
ajfa-8136	228	4	liquidity	liquidity	NOUN
ajfa-8136	228	5	as	as	ADP
ajfa-8136	228	6	a	a	DET
ajfa-8136	228	7	factor	factor	NOUN
ajfa-8136	228	8	in	in	ADP
ajfa-8136	228	9	asset	asset	NOUN
ajfa-8136	228	10	pricing	pricing	NOUN
ajfa-8136	228	11	.	.	PUNCT
ajfa-8136	229	1	acharya	acharya	PROPN
ajfa-8136	229	2	and	and	CCONJ
ajfa-8136	229	3	pedersen	pedersen	PROPN
ajfa-8136	229	4	(	(	PUNCT
ajfa-8136	229	5	2005	2005	NUM
ajfa-8136	229	6	)	)	PUNCT
ajfa-8136	229	7	propounded	propound	VERB
ajfa-8136	229	8	an	an	DET
ajfa-8136	229	9	asset	asset	NOUN
ajfa-8136	229	10	pricing	pricing	NOUN
ajfa-8136	229	11	model	model	NOUN
ajfa-8136	229	12	incorporating	incorporate	VERB
ajfa-8136	229	13	economic	economic	ADJ
ajfa-8136	229	14	significance	significance	NOUN
ajfa-8136	229	15	of	of	ADP
ajfa-8136	229	16	liquidity	liquidity	NOUN
ajfa-8136	229	17	risk	risk	NOUN
ajfa-8136	229	18	.	.	PUNCT
ajfa-8136	230	1	the	the	DET
ajfa-8136	230	2	study	study	NOUN
ajfa-8136	230	3	finds	find	VERB
ajfa-8136	230	4	that	that	SCONJ
ajfa-8136	230	5	the	the	DET
ajfa-8136	230	6	liquidity	liquidity	NOUN
ajfa-8136	230	7	-	-	PUNCT
ajfa-8136	230	8	adjusted	adjust	VERB
ajfa-8136	230	9	capm	capm	NOUN
ajfa-8136	230	10	explains	explain	VERB
ajfa-8136	230	11	the	the	DET
ajfa-8136	230	12	data	datum	NOUN
ajfa-8136	230	13	better	well	ADJ
ajfa-8136	230	14	than	than	ADP
ajfa-8136	230	15	the	the	DET
ajfa-8136	230	16	standard	standard	ADJ
ajfa-8136	230	17	capm	capm	PROPN
ajfa-8136	230	18	.	.	PUNCT
ajfa-8136	231	1	further	far	ADV
ajfa-8136	231	2	,	,	PUNCT
ajfa-8136	231	3	weak	weak	ADJ
ajfa-8136	231	4	evidence	evidence	NOUN
ajfa-8136	231	5	is	be	AUX
ajfa-8136	231	6	reported	report	VERB
ajfa-8136	231	7	about	about	ADP
ajfa-8136	231	8	the	the	DET
ajfa-8136	231	9	importance	importance	NOUN
ajfa-8136	231	10	of	of	ADP
ajfa-8136	231	11	liquidity	liquidity	NOUN
ajfa-8136	231	12	risk	risk	NOUN
ajfa-8136	231	13	over	over	ADP
ajfa-8136	231	14	market	market	NOUN
ajfa-8136	231	15	risk	risk	NOUN
ajfa-8136	231	16	and	and	CCONJ
ajfa-8136	231	17	the	the	DET
ajfa-8136	231	18	level	level	NOUN
ajfa-8136	231	19	of	of	ADP
ajfa-8136	231	20	liquidity	liquidity	NOUN
ajfa-8136	231	21	.	.	PUNCT
ajfa-8136	232	1	this	this	DET
ajfa-8136	232	2	model	model	NOUN
ajfa-8136	232	3	fails	fail	VERB
ajfa-8136	232	4	to	to	PART
ajfa-8136	232	5	explain	explain	VERB
ajfa-8136	232	6	the	the	DET
ajfa-8136	232	7	book	book	NOUN
ajfa-8136	232	8	-	-	PUNCT
ajfa-8136	232	9	to	to	ADP
ajfa-8136	232	10	-	-	PUNCT
ajfa-8136	232	11	market	market	NOUN
ajfa-8136	232	12	effect	effect	NOUN
ajfa-8136	232	13	but	but	CCONJ
ajfa-8136	232	14	it	it	PRON
ajfa-8136	232	15	is	be	AUX
ajfa-8136	232	16	a	a	DET
ajfa-8136	232	17	good	good	ADJ
ajfa-8136	232	18	fit	fit	NOUN
ajfa-8136	232	19	for	for	ADP
ajfa-8136	232	20	portfolios	portfolio	NOUN
ajfa-8136	232	21	sorted	sort	VERB
ajfa-8136	232	22	by	by	ADP
ajfa-8136	232	23	liquidity	liquidity	NOUN
ajfa-8136	232	24	,	,	PUNCT
ajfa-8136	232	25	liquidity	liquidity	NOUN
ajfa-8136	232	26	variation	variation	NOUN
ajfa-8136	232	27	,	,	PUNCT
ajfa-8136	232	28	and	and	CCONJ
ajfa-8136	232	29	size	size	NOUN
ajfa-8136	232	30	.	.	PUNCT
ajfa-8136	233	1	vu	vu	X
ajfa-8136	233	2	et	et	PROPN
ajfa-8136	233	3	.	.	PUNCT
ajfa-8136	234	1	al	al	PROPN
ajfa-8136	234	2	(	(	PUNCT
ajfa-8136	234	3	2014	2014	NUM
ajfa-8136	234	4	)	)	PUNCT
ajfa-8136	234	5	examines	examine	VERB
ajfa-8136	234	6	the	the	DET
ajfa-8136	234	7	pricing	pricing	NOUN
ajfa-8136	234	8	of	of	ADP
ajfa-8136	234	9	liquidity	liquidity	NOUN
ajfa-8136	234	10	risk	risk	NOUN
ajfa-8136	234	11	on	on	ADP
ajfa-8136	234	12	australian	australian	ADJ
ajfa-8136	234	13	market	market	NOUN
ajfa-8136	234	14	,	,	PUNCT
ajfa-8136	234	15	using	use	VERB
ajfa-8136	234	16	data	datum	NOUN
ajfa-8136	234	17	from	from	ADP
ajfa-8136	234	18	1991	1991	NUM
ajfa-8136	234	19	-	-	SYM
ajfa-8136	234	20	2010	2010	NUM
ajfa-8136	234	21	.	.	PUNCT
ajfa-8136	235	1	they	they	PRON
ajfa-8136	235	2	explored	explore	VERB
ajfa-8136	235	3	the	the	DET
ajfa-8136	235	4	impacts	impact	NOUN
ajfa-8136	235	5	of	of	ADP
ajfa-8136	235	6	various	various	ADJ
ajfa-8136	235	7	liquidity	liquidity	NOUN
ajfa-8136	235	8	risk	risk	NOUN
ajfa-8136	235	9	measures	measure	NOUN
ajfa-8136	235	10	on	on	ADP
ajfa-8136	235	11	stock	stock	NOUN
ajfa-8136	235	12	returns	return	NOUN
ajfa-8136	235	13	using	use	VERB
ajfa-8136	235	14	liquidity	liquidity	NOUN
ajfa-8136	235	15	-	-	PUNCT
ajfa-8136	235	16	adjusted	adjust	VERB
ajfa-8136	235	17	capm	capm	NOUN
ajfa-8136	235	18	model	model	NOUN
ajfa-8136	235	19	developed	develop	VERB
ajfa-8136	235	20	by	by	ADP
ajfa-8136	235	21	acharya	acharya	NOUN
ajfa-8136	235	22	and	and	CCONJ
ajfa-8136	235	23	pedersen	pedersen	PROPN
ajfa-8136	235	24	(	(	PUNCT
ajfa-8136	235	25	2005	2005	NUM
ajfa-8136	235	26	)	)	PUNCT
ajfa-8136	235	27	.	.	PUNCT
ajfa-8136	236	1	the	the	DET
ajfa-8136	236	2	study	study	NOUN
ajfa-8136	236	3	find	find	VERB
ajfa-8136	236	4	strong	strong	ADJ
ajfa-8136	236	5	evidence	evidence	NOUN
ajfa-8136	236	6	of	of	ADP
ajfa-8136	236	7	co	co	NOUN
ajfa-8136	236	8	-	-	NOUN
ajfa-8136	236	9	movements	movement	NOUN
ajfa-8136	236	10	(	(	PUNCT
ajfa-8136	236	11	i	i	NOUN
ajfa-8136	236	12	)	)	PUNCT
ajfa-8136	236	13	between	between	ADP
ajfa-8136	236	14	individual	individual	ADJ
ajfa-8136	236	15	stock	stock	NOUN
ajfa-8136	236	16	illiquidity	illiquidity	NOUN
ajfa-8136	236	17	and	and	CCONJ
ajfa-8136	236	18	market	market	NOUN
ajfa-8136	236	19	illiquidity	illiquidity	NOUN
ajfa-8136	236	20	,	,	PUNCT
ajfa-8136	236	21	(	(	PUNCT
ajfa-8136	236	22	ii	ii	NOUN
ajfa-8136	236	23	)	)	PUNCT
ajfa-8136	236	24	between	between	ADP
ajfa-8136	236	25	stock	stock	NOUN
ajfa-8136	236	26	returns	return	NOUN
ajfa-8136	236	27	and	and	CCONJ
ajfa-8136	236	28	market	market	NOUN
ajfa-8136	236	29	illiquidity	illiquidity	NOUN
ajfa-8136	236	30	and	and	CCONJ
ajfa-8136	236	31	(	(	PUNCT
ajfa-8136	236	32	iii	iii	NOUN
ajfa-8136	236	33	)	)	PUNCT
ajfa-8136	236	34	between	between	ADP
ajfa-8136	236	35	stock	stock	NOUN
ajfa-8136	236	36	illiquidity	illiquidity	NOUN
ajfa-8136	236	37	and	and	CCONJ
ajfa-8136	236	38	market	market	NOUN
ajfa-8136	236	39	returns	return	NOUN
ajfa-8136	236	40	.	.	PUNCT
ajfa-8136	237	1	overall	overall	ADV
ajfa-8136	237	2	,	,	PUNCT
ajfa-8136	237	3	the	the	DET
ajfa-8136	237	4	net	net	ADJ
ajfa-8136	237	5	value	value	NOUN
ajfa-8136	237	6	of	of	ADP
ajfa-8136	237	7	these	these	DET
ajfa-8136	237	8	liquidity	liquidity	NOUN
ajfa-8136	237	9	co	co	NOUN
ajfa-8136	237	10	-	-	NOUN
ajfa-8136	237	11	movements	movement	NOUN
ajfa-8136	237	12	is	be	AUX
ajfa-8136	237	13	significantly	significantly	ADV
ajfa-8136	237	14	priced	price	VERB
ajfa-8136	237	15	in	in	ADP
ajfa-8136	237	16	australia	australia	PROPN
ajfa-8136	237	17	.	.	PUNCT
ajfa-8136	238	1	hagstr	hagstr	PROPN
ajfa-8136	238	2	mer	mer	PROPN
ajfa-8136	238	3	et	et	PROPN
ajfa-8136	238	4	al.(2013	al.(2013	PROPN
ajfa-8136	238	5	)	)	PUNCT
ajfa-8136	238	6	investigates	investigate	VERB
ajfa-8136	238	7	the	the	DET
ajfa-8136	238	8	relation	relation	NOUN
ajfa-8136	238	9	between	between	ADP
ajfa-8136	238	10	illiquidity	illiquidity	NOUN
ajfa-8136	238	11	level	level	NOUN
ajfa-8136	238	12	,	,	PUNCT
ajfa-8136	238	13	illiquidity	illiquidity	NOUN
ajfa-8136	238	14	risk	risk	NOUN
ajfa-8136	238	15	,	,	PUNCT
ajfa-8136	238	16	size	size	NOUN
ajfa-8136	238	17	,	,	PUNCT
ajfa-8136	238	18	value	value	NOUN
ajfa-8136	238	19	and	and	CCONJ
ajfa-8136	238	20	momentum	momentum	NOUN
ajfa-8136	238	21	anomalies	anomaly	NOUN
ajfa-8136	238	22	for	for	ADP
ajfa-8136	238	23	us	us	PROPN
ajfa-8136	238	24	stocks	stock	NOUN
ajfa-8136	238	25	.	.	PUNCT
ajfa-8136	239	1	in	in	ADP
ajfa-8136	239	2	contrast	contrast	NOUN
ajfa-8136	239	3	to	to	ADP
ajfa-8136	239	4	statistical	statistical	ADJ
ajfa-8136	239	5	factors	factor	NOUN
ajfa-8136	239	6	both	both	DET
ajfa-8136	239	7	illiquidity	illiquidity	NOUN
ajfa-8136	239	8	level	level	NOUN
ajfa-8136	239	9	and	and	CCONJ
ajfa-8136	239	10	illiquidity	illiquidity	NOUN
ajfa-8136	239	11	risk	risk	NOUN
ajfa-8136	239	12	have	have	VERB
ajfa-8136	239	13	a	a	DET
ajfa-8136	239	14	theoretical	theoretical	ADJ
ajfa-8136	239	15	foundation	foundation	NOUN
ajfa-8136	239	16	in	in	ADP
ajfa-8136	239	17	the	the	DET
ajfa-8136	239	18	liquidity	liquidity	NOUN
ajfa-8136	239	19	adjusted	adjust	VERB
ajfa-8136	239	20	capital	capital	NOUN
ajfa-8136	239	21	asset	asset	NOUN
ajfa-8136	239	22	pricing	pricing	NOUN
ajfa-8136	239	23	model	model	NOUN
ajfa-8136	239	24	(	(	PUNCT
ajfa-8136	239	25	lcapm	lcapm	NOUN
ajfa-8136	239	26	)	)	PUNCT
ajfa-8136	239	27	.	.	PUNCT
ajfa-8136	240	1	lcapm	lcapm	NOUN
ajfa-8136	240	2	outperforms	outperform	VERB
ajfa-8136	240	3	the	the	DET
ajfa-8136	240	4	capm	capm	NOUN
ajfa-8136	240	5	in	in	ADP
ajfa-8136	240	6	terms	term	NOUN
ajfa-8136	240	7	of	of	ADP
ajfa-8136	240	8	ability	ability	NOUN
ajfa-8136	240	9	to	to	PART
ajfa-8136	240	10	explain	explain	VERB
ajfa-8136	240	11	risk	risk	NOUN
ajfa-8136	240	12	premiums	premium	NOUN
ajfa-8136	240	13	of	of	ADP
ajfa-8136	240	14	size	size	NOUN
ajfa-8136	240	15	and	and	CCONJ
ajfa-8136	240	16	value	value	NOUN
ajfa-8136	240	17	sorted	sort	VERB
ajfa-8136	240	18	test	test	NOUN
ajfa-8136	240	19	portfolios	portfolio	NOUN
ajfa-8136	240	20	.	.	PUNCT
ajfa-8136	241	1	the	the	DET
ajfa-8136	241	2	study	study	NOUN
ajfa-8136	241	3	finds	find	VERB
ajfa-8136	241	4	a	a	DET
ajfa-8136	241	5	very	very	ADV
ajfa-8136	241	6	strong	strong	ADJ
ajfa-8136	241	7	asian	asian	ADJ
ajfa-8136	241	8	journal	journal	NOUN
ajfa-8136	241	9	of	of	ADP
ajfa-8136	241	10	finance	finance	PROPN
ajfa-8136	241	11	&	&	CCONJ
ajfa-8136	241	12	accounting	accounting	PROPN
ajfa-8136	241	13	issn	issn	PROPN
ajfa-8136	241	14	1946	1946	NUM
ajfa-8136	241	15	-	-	PUNCT
ajfa-8136	241	16	052x	052x	NOUN
ajfa-8136	241	17	2015	2015	NUM
ajfa-8136	241	18	,	,	PUNCT
ajfa-8136	241	19	vol	vol	NOUN
ajfa-8136	241	20	.	.	PROPN
ajfa-8136	241	21	7	7	NUM
ajfa-8136	241	22	,	,	PUNCT
ajfa-8136	241	23	no	no	INTJ
ajfa-8136	241	24	.	.	NOUN
ajfa-8136	241	25	2	2	NUM
ajfa-8136	241	26	46	46	NUM
ajfa-8136	241	27	correlation	correlation	NOUN
ajfa-8136	241	28	between	between	ADP
ajfa-8136	241	29	fama	fama	NOUN
ajfa-8136	241	30	-	-	PUNCT
ajfa-8136	241	31	french	french	ADJ
ajfa-8136	241	32	size	size	NOUN
ajfa-8136	241	33	betas	beta	NOUN
ajfa-8136	241	34	and	and	CCONJ
ajfa-8136	241	35	illiquidity	illiquidity	NOUN
ajfa-8136	241	36	level	level	NOUN
ajfa-8136	241	37	betas	beta	NOUN
ajfa-8136	241	38	(	(	PUNCT
ajfa-8136	241	39	about	about	ADV
ajfa-8136	241	40	0.96	0.96	NUM
ajfa-8136	241	41	)	)	PUNCT
ajfa-8136	241	42	and	and	CCONJ
ajfa-8136	241	43	a	a	DET
ajfa-8136	241	44	fairly	fairly	ADV
ajfa-8136	241	45	strong	strong	ADJ
ajfa-8136	241	46	correlation	correlation	NOUN
ajfa-8136	241	47	between	between	ADP
ajfa-8136	241	48	fama	fama	NOUN
ajfa-8136	241	49	-	-	PUNCT
ajfa-8136	241	50	french	french	ADJ
ajfa-8136	241	51	value	value	NOUN
ajfa-8136	241	52	betas	beta	NOUN
ajfa-8136	241	53	and	and	CCONJ
ajfa-8136	241	54	illiquidity	illiquidity	NOUN
ajfa-8136	241	55	risk	risk	NOUN
ajfa-8136	241	56	betas	beta	NOUN
ajfa-8136	241	57	(	(	PUNCT
ajfa-8136	241	58	about	about	ADV
ajfa-8136	241	59	0.56	0.56	NUM
ajfa-8136	241	60	)	)	PUNCT
ajfa-8136	241	61	while	while	SCONJ
ajfa-8136	241	62	carhart	carhart	NOUN
ajfa-8136	241	63	’s	’s	PART
ajfa-8136	241	64	momentum	momentum	NOUN
ajfa-8136	241	65	beta	beta	NOUN
ajfa-8136	241	66	has	have	VERB
ajfa-8136	241	67	high	high	ADJ
ajfa-8136	241	68	negative	negative	ADJ
ajfa-8136	241	69	correlation	correlation	NOUN
ajfa-8136	241	70	with	with	ADP
ajfa-8136	241	71	betas	beta	NOUN
ajfa-8136	241	72	both	both	CCONJ
ajfa-8136	241	73	for	for	ADP
ajfa-8136	241	74	illiquidity	illiquidity	NOUN
ajfa-8136	241	75	level	level	NOUN
ajfa-8136	241	76	and	and	CCONJ
ajfa-8136	241	77	risk	risk	NOUN
ajfa-8136	241	78	(	(	PUNCT
ajfa-8136	241	79	-0.76	-0.76	NUM
ajfa-8136	241	80	and	and	CCONJ
ajfa-8136	241	81	-0.94	-0.94	NUM
ajfa-8136	241	82	respectively	respectively	ADV
ajfa-8136	241	83	)	)	PUNCT
ajfa-8136	241	84	.	.	PUNCT
ajfa-8136	242	1	the	the	DET
ajfa-8136	242	2	premiums	premium	NOUN
ajfa-8136	242	3	related	relate	VERB
ajfa-8136	242	4	to	to	ADP
ajfa-8136	242	5	size	size	NOUN
ajfa-8136	242	6	can	can	AUX
ajfa-8136	242	7	to	to	ADP
ajfa-8136	242	8	large	large	ADJ
ajfa-8136	242	9	extent	extent	NOUN
ajfa-8136	242	10	be	be	AUX
ajfa-8136	242	11	explained	explain	VERB
ajfa-8136	242	12	as	as	ADP
ajfa-8136	242	13	a	a	DET
ajfa-8136	242	14	compensation	compensation	NOUN
ajfa-8136	242	15	for	for	ADP
ajfa-8136	242	16	illiquidity	illiquidity	NOUN
ajfa-8136	242	17	level	level	NOUN
ajfa-8136	242	18	.	.	PUNCT
ajfa-8136	243	1	eleswarapu	eleswarapu	NOUN
ajfa-8136	243	2	and	and	CCONJ
ajfa-8136	243	3	reinganum	reinganum	PROPN
ajfa-8136	243	4	(	(	PUNCT
ajfa-8136	243	5	1993	1993	NUM
ajfa-8136	243	6	)	)	PUNCT
ajfa-8136	243	7	empirically	empirically	ADV
ajfa-8136	243	8	investigate	investigate	VERB
ajfa-8136	243	9	the	the	DET
ajfa-8136	243	10	seasonal	seasonal	ADJ
ajfa-8136	243	11	behavior	behavior	NOUN
ajfa-8136	243	12	of	of	ADP
ajfa-8136	243	13	the	the	DET
ajfa-8136	243	14	liquidity	liquidity	NOUN
ajfa-8136	243	15	premium	premium	NOUN
ajfa-8136	243	16	in	in	ADP
ajfa-8136	243	17	asset	asset	NOUN
ajfa-8136	243	18	pricing	pricing	NOUN
ajfa-8136	243	19	.	.	PUNCT
ajfa-8136	244	1	liquidity	liquidity	NOUN
ajfa-8136	244	2	premium	premium	NOUN
ajfa-8136	244	3	is	be	AUX
ajfa-8136	244	4	reliably	reliably	ADV
ajfa-8136	244	5	positive	positive	ADJ
ajfa-8136	244	6	only	only	ADV
ajfa-8136	244	7	during	during	ADP
ajfa-8136	244	8	the	the	DET
ajfa-8136	244	9	month	month	NOUN
ajfa-8136	244	10	of	of	ADP
ajfa-8136	244	11	january	january	PROPN
ajfa-8136	244	12	.	.	PUNCT
ajfa-8136	245	1	however	however	ADV
ajfa-8136	245	2	,	,	PUNCT
ajfa-8136	245	3	for	for	ADP
ajfa-8136	245	4	the	the	DET
ajfa-8136	245	5	non	non	ADJ
ajfa-8136	245	6	-	-	ADJ
ajfa-8136	245	7	january	january	ADJ
ajfa-8136	245	8	months	month	NOUN
ajfa-8136	245	9	,	,	PUNCT
ajfa-8136	245	10	a	a	DET
ajfa-8136	245	11	positive	positive	ADJ
ajfa-8136	245	12	liquidity	liquidity	NOUN
ajfa-8136	245	13	premium	premium	NOUN
ajfa-8136	245	14	is	be	AUX
ajfa-8136	245	15	not	not	PART
ajfa-8136	245	16	detected	detect	VERB
ajfa-8136	245	17	.	.	PUNCT
ajfa-8136	246	1	in	in	ADP
ajfa-8136	246	2	contrast	contrast	NOUN
ajfa-8136	246	3	to	to	ADP
ajfa-8136	246	4	amihud	amihud	PROPN
ajfa-8136	246	5	and	and	CCONJ
ajfa-8136	246	6	mendelson	mendelson	PROPN
ajfa-8136	246	7	(	(	PUNCT
ajfa-8136	246	8	1986	1986	NUM
ajfa-8136	246	9	)	)	PUNCT
ajfa-8136	246	10	,	,	PUNCT
ajfa-8136	246	11	the	the	DET
ajfa-8136	246	12	study	study	NOUN
ajfa-8136	246	13	shows	show	VERB
ajfa-8136	246	14	evidence	evidence	NOUN
ajfa-8136	246	15	that	that	SCONJ
ajfa-8136	246	16	the	the	DET
ajfa-8136	246	17	size	size	NOUN
ajfa-8136	246	18	effect	effect	NOUN
ajfa-8136	246	19	is	be	AUX
ajfa-8136	246	20	significant	significant	ADJ
ajfa-8136	246	21	,	,	PUNCT
ajfa-8136	246	22	even	even	ADV
ajfa-8136	246	23	after	after	ADP
ajfa-8136	246	24	controlling	control	VERB
ajfa-8136	246	25	for	for	ADP
ajfa-8136	246	26	spreads	spread	NOUN
ajfa-8136	246	27	.	.	PUNCT
ajfa-8136	247	1	hubers	huber	NOUN
ajfa-8136	247	2	(	(	PUNCT
ajfa-8136	247	3	2012	2012	NUM
ajfa-8136	247	4	)	)	PUNCT
ajfa-8136	247	5	tested	test	VERB
ajfa-8136	247	6	the	the	DET
ajfa-8136	247	7	relationship	relationship	NOUN
ajfa-8136	247	8	between	between	ADP
ajfa-8136	247	9	asset	asset	NOUN
ajfa-8136	247	10	prices	price	NOUN
ajfa-8136	247	11	and	and	CCONJ
ajfa-8136	247	12	liquidity	liquidity	NOUN
ajfa-8136	247	13	on	on	ADP
ajfa-8136	247	14	london	london	PROPN
ajfa-8136	247	15	stock	stock	PROPN
ajfa-8136	247	16	exchange	exchange	PROPN
ajfa-8136	247	17	(	(	PUNCT
ajfa-8136	247	18	lse	lse	PROPN
ajfa-8136	247	19	)	)	PUNCT
ajfa-8136	247	20	taking	take	VERB
ajfa-8136	247	21	three	three	NUM
ajfa-8136	247	22	models	model	NOUN
ajfa-8136	247	23	viz	viz	PROPN
ajfa-8136	247	24	.	.	PUNCT
ajfa-8136	248	1	capm	capm	PROPN
ajfa-8136	248	2	,	,	PUNCT
ajfa-8136	248	3	capm	capm	PROPN
ajfa-8136	248	4	with	with	ADP
ajfa-8136	248	5	a	a	DET
ajfa-8136	248	6	liquidity	liquidity	NOUN
ajfa-8136	248	7	factor	factor	NOUN
ajfa-8136	248	8	and	and	CCONJ
ajfa-8136	248	9	;	;	PUNCT
ajfa-8136	248	10	capm	capm	NOUN
ajfa-8136	248	11	with	with	ADP
ajfa-8136	248	12	a	a	DET
ajfa-8136	248	13	liquidity	liquidity	NOUN
ajfa-8136	248	14	factor	factor	NOUN
ajfa-8136	248	15	along	along	ADP
ajfa-8136	248	16	with	with	ADP
ajfa-8136	248	17	the	the	DET
ajfa-8136	248	18	fama	fama	NOUN
ajfa-8136	248	19	-	-	PUNCT
ajfa-8136	248	20	french	french	ADJ
ajfa-8136	248	21	factors	factor	NOUN
ajfa-8136	248	22	.	.	PUNCT
ajfa-8136	249	1	the	the	DET
ajfa-8136	249	2	size	size	NOUN
ajfa-8136	249	3	and	and	CCONJ
ajfa-8136	249	4	liquidity	liquidity	NOUN
ajfa-8136	249	5	sorted	sort	VERB
ajfa-8136	249	6	portfolio	portfolio	NOUN
ajfa-8136	249	7	returns	return	NOUN
ajfa-8136	249	8	are	be	AUX
ajfa-8136	249	9	regressed	regress	VERB
ajfa-8136	249	10	against	against	ADP
ajfa-8136	249	11	liquidity	liquidity	NOUN
ajfa-8136	249	12	in	in	ADP
ajfa-8136	249	13	each	each	DET
ajfa-8136	249	14	model	model	NOUN
ajfa-8136	249	15	.	.	PUNCT
ajfa-8136	250	1	the	the	DET
ajfa-8136	250	2	study	study	NOUN
ajfa-8136	250	3	finds	find	VERB
ajfa-8136	250	4	evidence	evidence	NOUN
ajfa-8136	250	5	regarding	regard	VERB
ajfa-8136	250	6	the	the	DET
ajfa-8136	250	7	relationship	relationship	NOUN
ajfa-8136	250	8	between	between	ADP
ajfa-8136	250	9	liquidity	liquidity	NOUN
ajfa-8136	250	10	and	and	CCONJ
ajfa-8136	250	11	asset	asset	NOUN
ajfa-8136	250	12	prices	price	NOUN
ajfa-8136	250	13	.	.	PUNCT
ajfa-8136	251	1	table	table	NOUN
ajfa-8136	251	2	5.summary	5.summary	NUM
ajfa-8136	251	3	of	of	ADP
ajfa-8136	251	4	empirical	empirical	ADJ
ajfa-8136	251	5	studies	study	NOUN
ajfa-8136	251	6	on	on	ADP
ajfa-8136	251	7	liquidity	liquidity	NOUN
ajfa-8136	251	8	and	and	CCONJ
ajfa-8136	251	9	asset	asset	NOUN
ajfa-8136	251	10	pricing	pricing	NOUN
ajfa-8136	251	11	author/	author/	NUM
ajfa-8136	251	12	’s	’s	PART
ajfa-8136	251	13	(	(	PUNCT
ajfa-8136	251	14	year	year	NOUN
ajfa-8136	251	15	)	)	PUNCT
ajfa-8136	251	16	market	market	NOUN
ajfa-8136	251	17	model	model	NOUN
ajfa-8136	251	18	tested	test	VERB
ajfa-8136	251	19	remarks	remark	NOUN
ajfa-8136	251	20	acharya	acharya	PROPN
ajfa-8136	251	21	and	and	CCONJ
ajfa-8136	251	22	pederson	pederson	PROPN
ajfa-8136	251	23	(	(	PUNCT
ajfa-8136	251	24	2005	2005	NUM
ajfa-8136	251	25	)	)	PUNCT
ajfa-8136	251	26	usa	usa	PROPN
ajfa-8136	251	27	nyse	nyse	PROPN
ajfa-8136	251	28	,	,	PUNCT
ajfa-8136	251	29	amex	amex	PROPN
ajfa-8136	251	30	lcapm	lcapm	PROPN
ajfa-8136	251	31	liquidityadjustedcapm	liquidityadjustedcapm	PROPN
ajfa-8136	251	32	factors	factor	VERB
ajfa-8136	251	33	systematic	systematic	ADJ
ajfa-8136	251	34	liquidity	liquidity	NOUN
ajfa-8136	251	35	risk	risk	NOUN
ajfa-8136	251	36	(	(	PUNCT
ajfa-8136	251	37	lcapm	lcapm	NOUN
ajfa-8136	251	38	)	)	PUNCT
ajfa-8136	251	39	piesse	piesse	NOUN
ajfa-8136	251	40	and	and	CCONJ
ajfa-8136	251	41	hearn	hearn	PROPN
ajfa-8136	251	42	(	(	PUNCT
ajfa-8136	251	43	2009	2009	NUM
ajfa-8136	251	44	)	)	PUNCT
ajfa-8136	251	45	african	african	ADJ
ajfa-8136	251	46	markets	market	NOUN
ajfa-8136	251	47	augmentedfamacapm	augmentedfamacapm	NOUN
ajfa-8136	251	48	by	by	ADP
ajfa-8136	251	49	sharpe	sharpe	PROPN
ajfa-8136	251	50	(	(	PUNCT
ajfa-8136	251	51	1964	1964	NUM
ajfa-8136	251	52	)	)	PUNCT
ajfa-8136	251	53	size	size	NOUN
ajfa-8136	251	54	and	and	CCONJ
ajfa-8136	251	55	liquidity	liquidity	NOUN
ajfa-8136	251	56	are	be	AUX
ajfa-8136	251	57	important	important	ADJ
ajfa-8136	251	58	valuation	valuation	NOUN
ajfa-8136	251	59	factors	factor	NOUN
ajfa-8136	251	60	in	in	ADP
ajfa-8136	251	61	large	large	ADJ
ajfa-8136	251	62	markets	market	NOUN
ajfa-8136	251	63	,	,	PUNCT
ajfa-8136	251	64	premium	premium	NOUN
ajfa-8136	251	65	associated	associate	VERB
ajfa-8136	251	66	with	with	ADP
ajfa-8136	251	67	size	size	NOUN
ajfa-8136	251	68	is	be	AUX
ajfa-8136	251	69	large	large	ADJ
ajfa-8136	251	70	lam	lam	NOUN
ajfa-8136	251	71	and	and	CCONJ
ajfa-8136	251	72	tam	tam	PROPN
ajfa-8136	251	73	(	(	PUNCT
ajfa-8136	251	74	2011	2011	NUM
ajfa-8136	251	75	)	)	PUNCT
ajfa-8136	251	76	hong	hong	PROPN
ajfa-8136	251	77	kong	kong	PROPN
ajfa-8136	251	78	stock	stock	NOUN
ajfa-8136	251	79	market	market	NOUN
ajfa-8136	251	80	fama	fama	NOUN
ajfa-8136	251	81	and	and	CCONJ
ajfa-8136	251	82	french	french	ADJ
ajfa-8136	251	83	(	(	PUNCT
ajfa-8136	251	84	1993	1993	NUM
ajfa-8136	251	85	)	)	PUNCT
ajfa-8136	251	86	three	three	NUM
ajfa-8136	251	87	-	-	PUNCT
ajfa-8136	251	88	factor	factor	NOUN
ajfa-8136	251	89	model	model	NOUN
ajfa-8136	251	90	liquidity	liquidity	NOUN
ajfa-8136	251	91	is	be	AUX
ajfa-8136	251	92	important	important	ADJ
ajfa-8136	251	93	variablein	variablein	ADJ
ajfa-8136	251	94	pricing	pricing	NOUN
ajfa-8136	251	95	returns	return	NOUN
ajfa-8136	251	96	,	,	PUNCT
ajfa-8136	251	97	momentum	momentum	NOUN
ajfa-8136	251	98	factor	factor	NOUN
ajfa-8136	251	99	not	not	PART
ajfa-8136	251	100	priced	price	VERB
ajfa-8136	251	101	faff	faff	PROPN
ajfa-8136	251	102	et	et	PROPN
ajfa-8136	251	103	al	al	PROPN
ajfa-8136	251	104	.	.	PROPN
ajfa-8136	252	1	(	(	PUNCT
ajfa-8136	252	2	2013	2013	NUM
ajfa-8136	252	3	)	)	PUNCT
ajfa-8136	252	4	australia	australia	PROPN
ajfa-8136	252	5	asx	asx	PROPN
ajfa-8136	252	6	carhart	carhart	NOUN
ajfa-8136	252	7	four	four	NUM
ajfa-8136	252	8	factor	factor	NOUN
ajfa-8136	252	9	model	model	NOUN
ajfa-8136	252	10	new	new	ADJ
ajfa-8136	252	11	proxy	proxy	NOUN
ajfa-8136	252	12	of	of	ADP
ajfa-8136	252	13	liquidity	liquidity	NOUN
ajfa-8136	252	14	is	be	AUX
ajfa-8136	252	15	added	add	VERB
ajfa-8136	252	16	as	as	ADP
ajfa-8136	252	17	factor	factor	NOUN
ajfa-8136	252	18	vu	vu	X
ajfa-8136	252	19	et	et	PROPN
ajfa-8136	252	20	al	al	PROPN
ajfa-8136	252	21	.	.	PROPN
ajfa-8136	253	1	(	(	PUNCT
ajfa-8136	253	2	2014	2014	NUM
ajfa-8136	253	3	)	)	PUNCT
ajfa-8136	253	4	australia	australia	PROPN
ajfa-8136	253	5	asx	asx	NOUN
ajfa-8136	253	6	lcapm	lcapm	NOUN
ajfa-8136	253	7	pricing	pricing	NOUN
ajfa-8136	253	8	of	of	ADP
ajfa-8136	253	9	liquidity	liquidity	NOUN
ajfa-8136	253	10	co	co	NOUN
ajfa-8136	253	11	-	-	NOUN
ajfa-8136	253	12	movements	movement	NOUN
ajfa-8136	253	13	,	,	PUNCT
ajfa-8136	253	14	asymmetric	asymmetric	ADJ
ajfa-8136	253	15	response	response	NOUN
ajfa-8136	253	16	of	of	ADP
ajfa-8136	253	17	investors	investor	NOUN
ajfa-8136	253	18	in	in	ADP
ajfa-8136	253	19	up	up	ADP
ajfa-8136	253	20	and	and	CCONJ
ajfa-8136	253	21	down	down	ADJ
ajfa-8136	253	22	markets	market	NOUN
ajfa-8136	253	23	source	source	NOUN
ajfa-8136	253	24	:	:	PUNCT
ajfa-8136	253	25	compiled	compile	VERB
ajfa-8136	253	26	by	by	ADP
ajfa-8136	253	27	authors	author	NOUN
ajfa-8136	253	28	from	from	ADP
ajfa-8136	253	29	cited	cite	VERB
ajfa-8136	253	30	research	research	NOUN
ajfa-8136	253	31	articles	article	NOUN
ajfa-8136	253	32	asian	asian	ADJ
ajfa-8136	253	33	journal	journal	PROPN
ajfa-8136	253	34	of	of	ADP
ajfa-8136	253	35	finance	finance	PROPN
ajfa-8136	253	36	&	&	CCONJ
ajfa-8136	253	37	accounting	accounting	PROPN
ajfa-8136	253	38	issn	issn	PROPN
ajfa-8136	253	39	1946	1946	NUM
ajfa-8136	253	40	-	-	PUNCT
ajfa-8136	253	41	052x	052x	NOUN
ajfa-8136	253	42	2015	2015	NUM
ajfa-8136	253	43	,	,	PUNCT
ajfa-8136	253	44	vol	vol	NOUN
ajfa-8136	253	45	.	.	PROPN
ajfa-8136	254	1	7	7	NUM
ajfa-8136	254	2	,	,	PUNCT
ajfa-8136	254	3	no	no	INTJ
ajfa-8136	254	4	.	.	NOUN
ajfa-8136	254	5	2	2	NUM
ajfa-8136	254	6	47	47	NUM
ajfa-8136	254	7	7	7	NUM
ajfa-8136	254	8	.	.	PUNCT
ajfa-8136	255	1	liquidity	liquidity	NOUN
ajfa-8136	255	2	and	and	CCONJ
ajfa-8136	255	3	corporate	corporate	ADJ
ajfa-8136	255	4	finance	finance	NOUN
ajfa-8136	255	5	one	one	NUM
ajfa-8136	255	6	of	of	ADP
ajfa-8136	255	7	the	the	DET
ajfa-8136	255	8	current	current	ADJ
ajfa-8136	255	9	issues	issue	NOUN
ajfa-8136	255	10	in	in	ADP
ajfa-8136	255	11	the	the	DET
ajfa-8136	255	12	market	market	NOUN
ajfa-8136	255	13	microstructure	microstructure	NOUN
ajfa-8136	255	14	literature	literature	NOUN
ajfa-8136	255	15	is	be	AUX
ajfa-8136	255	16	whether	whether	SCONJ
ajfa-8136	255	17	liquidity	liquidity	NOUN
ajfa-8136	255	18	affects	affect	VERB
ajfa-8136	255	19	firm	firm	ADJ
ajfa-8136	255	20	value.hansen	value.hansen	NOUN
ajfa-8136	255	21	and	and	CCONJ
ajfa-8136	255	22	sungsuk	sungsuk	NOUN
ajfa-8136	255	23	(	(	PUNCT
ajfa-8136	255	24	2013	2013	NUM
ajfa-8136	255	25	)	)	PUNCT
ajfa-8136	255	26	studied	study	VERB
ajfa-8136	255	27	the	the	DET
ajfa-8136	255	28	relationship	relationship	NOUN
ajfa-8136	255	29	between	between	ADP
ajfa-8136	255	30	stock	stock	NOUN
ajfa-8136	255	31	liquidity	liquidity	NOUN
ajfa-8136	255	32	and	and	CCONJ
ajfa-8136	255	33	the	the	DET
ajfa-8136	255	34	firm	firm	ADJ
ajfa-8136	255	35	value	value	NOUN
ajfa-8136	255	36	on	on	ADP
ajfa-8136	255	37	indonesian	indonesian	ADJ
ajfa-8136	255	38	stock	stock	NOUN
ajfa-8136	255	39	market	market	NOUN
ajfa-8136	255	40	.	.	PUNCT
ajfa-8136	256	1	the	the	DET
ajfa-8136	256	2	study	study	NOUN
ajfa-8136	256	3	employees	employees	PROPN
ajfa-8136	256	4	panel	panel	NOUN
ajfa-8136	256	5	data	datum	NOUN
ajfa-8136	256	6	regressions	regression	NOUN
ajfa-8136	256	7	to	to	PART
ajfa-8136	256	8	show	show	VERB
ajfa-8136	256	9	that	that	SCONJ
ajfa-8136	256	10	more	more	ADJ
ajfa-8136	256	11	liquid	liquid	ADJ
ajfa-8136	256	12	firms	firm	NOUN
ajfa-8136	256	13	have	have	VERB
ajfa-8136	256	14	higher	high	ADJ
ajfa-8136	256	15	operating	operating	NOUN
ajfa-8136	256	16	profits	profit	NOUN
ajfa-8136	256	17	as	as	SCONJ
ajfa-8136	256	18	measured	measure	VERB
ajfa-8136	256	19	by	by	ADP
ajfa-8136	256	20	tobin	tobin	PROPN
ajfa-8136	256	21	’s	’s	PART
ajfa-8136	256	22	q	q	NOUN
ajfa-8136	256	23	,	,	PUNCT
ajfa-8136	256	24	operating	operate	VERB
ajfa-8136	256	25	income	income	NOUN
ajfa-8136	256	26	-	-	PUNCT
ajfa-8136	256	27	to	to	ADP
ajfa-8136	256	28	-	-	PUNCT
ajfa-8136	256	29	price	price	NOUN
ajfa-8136	256	30	ratio	ratio	NOUN
ajfa-8136	256	31	,	,	PUNCT
ajfa-8136	256	32	leverage	leverage	NOUN
ajfa-8136	256	33	,	,	PUNCT
ajfa-8136	256	34	operating	operate	VERB
ajfa-8136	256	35	income	income	NOUN
ajfa-8136	256	36	on	on	ADP
ajfa-8136	256	37	assets	asset	NOUN
ajfa-8136	256	38	etc	etc	X
ajfa-8136	256	39	.	.	PUNCT
ajfa-8136	257	1	huang	huang	PROPN
ajfa-8136	257	2	et	et	PROPN
ajfa-8136	257	3	al	al	PROPN
ajfa-8136	257	4	.	.	PROPN
ajfa-8136	258	1	(	(	PUNCT
ajfa-8136	258	2	2013	2013	NUM
ajfa-8136	258	3	)	)	PUNCT
ajfa-8136	258	4	reports	report	VERB
ajfa-8136	258	5	the	the	DET
ajfa-8136	258	6	positive	positive	ADJ
ajfa-8136	258	7	impact	impact	NOUN
ajfa-8136	258	8	of	of	ADP
ajfa-8136	258	9	stock	stock	NOUN
ajfa-8136	258	10	liquidity	liquidity	NOUN
ajfa-8136	258	11	corporate	corporate	ADJ
ajfa-8136	258	12	valuation	valuation	NOUN
ajfa-8136	258	13	on	on	ADP
ajfa-8136	258	14	a	a	DET
ajfa-8136	258	15	broad	broad	ADJ
ajfa-8136	258	16	sample	sample	NOUN
ajfa-8136	258	17	of	of	ADP
ajfa-8136	258	18	53	53	NUM
ajfa-8136	258	19	countries	country	NOUN
ajfa-8136	258	20	.	.	PUNCT
ajfa-8136	259	1	the	the	DET
ajfa-8136	259	2	findings	finding	NOUN
ajfa-8136	259	3	are	be	AUX
ajfa-8136	259	4	robust	robust	ADJ
ajfa-8136	259	5	to	to	ADP
ajfa-8136	259	6	various	various	ADJ
ajfa-8136	259	7	stock	stock	NOUN
ajfa-8136	259	8	liquidity	liquidity	NOUN
ajfa-8136	259	9	measures	measure	NOUN
ajfa-8136	259	10	,	,	PUNCT
ajfa-8136	259	11	host	host	NOUN
ajfa-8136	259	12	of	of	ADP
ajfa-8136	259	13	firm	firm	ADJ
ajfa-8136	259	14	-	-	PUNCT
ajfa-8136	259	15	specific	specific	ADJ
ajfa-8136	259	16	control	control	NOUN
ajfa-8136	259	17	variables	variable	NOUN
ajfa-8136	259	18	,	,	PUNCT
ajfa-8136	259	19	and	and	CCONJ
ajfa-8136	259	20	different	different	ADJ
ajfa-8136	259	21	sub	sub	NOUN
ajfa-8136	259	22	periods	period	NOUN
ajfa-8136	259	23	.	.	PUNCT
ajfa-8136	260	1	stock	stock	NOUN
ajfa-8136	260	2	liquidity	liquidity	NOUN
ajfa-8136	260	3	promotes	promote	VERB
ajfa-8136	260	4	the	the	DET
ajfa-8136	260	5	informed	informed	ADJ
ajfa-8136	260	6	trading	trading	NOUN
ajfa-8136	260	7	,	,	PUNCT
ajfa-8136	260	8	which	which	PRON
ajfa-8136	260	9	in	in	ADP
ajfa-8136	260	10	turn	turn	NOUN
ajfa-8136	260	11	gives	give	VERB
ajfa-8136	260	12	rise	rise	NOUN
ajfa-8136	260	13	to	to	ADP
ajfa-8136	260	14	an	an	DET
ajfa-8136	260	15	informative	informative	ADJ
ajfa-8136	260	16	stock	stock	NOUN
ajfa-8136	260	17	price	price	NOUN
ajfa-8136	260	18	.	.	PUNCT
ajfa-8136	261	1	skjeltorp	skjeltorp	PROPN
ajfa-8136	261	2	and	and	CCONJ
ajfa-8136	261	3	ødegaard	ødegaard	PROPN
ajfa-8136	261	4	(	(	PUNCT
ajfa-8136	261	5	2015	2015	NUM
ajfa-8136	261	6	)	)	PUNCT
ajfa-8136	261	7	investigated	investigate	VERB
ajfa-8136	261	8	the	the	DET
ajfa-8136	261	9	reason	reason	NOUN
ajfa-8136	261	10	of	of	ADP
ajfa-8136	261	11	incurring	incur	VERB
ajfa-8136	261	12	the	the	DET
ajfa-8136	261	13	cost	cost	NOUN
ajfa-8136	261	14	of	of	ADP
ajfa-8136	261	15	improving	improve	VERB
ajfa-8136	261	16	stock	stock	NOUN
ajfa-8136	261	17	liquidity	liquidity	NOUN
ajfa-8136	261	18	by	by	ADP
ajfa-8136	261	19	the	the	DET
ajfa-8136	261	20	firms	firm	NOUN
ajfa-8136	261	21	.	.	PUNCT
ajfa-8136	262	1	the	the	DET
ajfa-8136	262	2	reasons	reason	NOUN
ajfa-8136	262	3	reported	report	VERB
ajfa-8136	262	4	being	be	AUX
ajfa-8136	262	5	that	that	SCONJ
ajfa-8136	262	6	the	the	DET
ajfa-8136	262	7	firm	firm	NOUN
ajfa-8136	262	8	is	be	AUX
ajfa-8136	262	9	going	go	VERB
ajfa-8136	262	10	to	to	PART
ajfa-8136	262	11	raise	raise	VERB
ajfa-8136	262	12	capital	capital	NOUN
ajfa-8136	262	13	in	in	ADP
ajfa-8136	262	14	the	the	DET
ajfa-8136	262	15	near	near	ADJ
ajfa-8136	262	16	future	future	NOUN
ajfa-8136	262	17	or	or	CCONJ
ajfa-8136	262	18	they	they	PRON
ajfa-8136	262	19	are	be	AUX
ajfa-8136	262	20	planning	plan	VERB
ajfa-8136	262	21	to	to	PART
ajfa-8136	262	22	repurchase	repurchase	VERB
ajfa-8136	262	23	their	their	PRON
ajfa-8136	262	24	own	own	ADJ
ajfa-8136	262	25	shares	share	NOUN
ajfa-8136	262	26	.	.	PUNCT
ajfa-8136	263	1	as	as	ADP
ajfa-8136	263	2	per	per	ADP
ajfa-8136	263	3	the	the	DET
ajfa-8136	263	4	study	study	NOUN
ajfa-8136	263	5	,	,	PUNCT
ajfa-8136	263	6	the	the	DET
ajfa-8136	263	7	firms	firm	NOUN
ajfa-8136	263	8	which	which	PRON
ajfa-8136	263	9	hire	hire	VERB
ajfa-8136	263	10	a	a	DET
ajfa-8136	263	11	market	market	NOUN
ajfa-8136	263	12	maker	maker	NOUN
ajfa-8136	263	13	resulted	result	VERB
ajfa-8136	263	14	in	in	ADP
ajfa-8136	263	15	to	to	ADP
ajfa-8136	263	16	significant	significant	ADJ
ajfa-8136	263	17	reduction	reduction	NOUN
ajfa-8136	263	18	in	in	ADP
ajfa-8136	263	19	liquidity	liquidity	NOUN
ajfa-8136	263	20	risk	risk	NOUN
ajfa-8136	263	21	and	and	CCONJ
ajfa-8136	263	22	hence	hence	ADV
ajfa-8136	263	23	cost	cost	NOUN
ajfa-8136	263	24	of	of	ADP
ajfa-8136	263	25	capital	capital	NOUN
ajfa-8136	263	26	.	.	PUNCT
ajfa-8136	264	1	huyghebaert	huyghebaert	PROPN
ajfa-8136	264	2	and	and	CCONJ
ajfa-8136	264	3	hulle	hulle	PROPN
ajfa-8136	264	4	(	(	PUNCT
ajfa-8136	264	5	2004	2004	NUM
ajfa-8136	264	6	)	)	PUNCT
ajfa-8136	264	7	investigated	investigate	VERB
ajfa-8136	264	8	the	the	DET
ajfa-8136	264	9	role	role	NOUN
ajfa-8136	264	10	of	of	ADP
ajfa-8136	264	11	institutional	institutional	ADJ
ajfa-8136	264	12	investors	investor	NOUN
ajfa-8136	264	13	in	in	ADP
ajfa-8136	264	14	corporate	corporate	ADJ
ajfa-8136	264	15	finance	finance	NOUN
ajfa-8136	264	16	.	.	PUNCT
ajfa-8136	265	1	they	they	PRON
ajfa-8136	265	2	reported	report	VERB
ajfa-8136	265	3	that	that	SCONJ
ajfa-8136	265	4	institutional	institutional	ADJ
ajfa-8136	265	5	investors	investor	NOUN
ajfa-8136	265	6	reduce	reduce	VERB
ajfa-8136	265	7	information	information	NOUN
ajfa-8136	265	8	asymmetries	asymmetry	NOUN
ajfa-8136	265	9	between	between	ADP
ajfa-8136	265	10	firms	firm	NOUN
ajfa-8136	265	11	and	and	CCONJ
ajfa-8136	265	12	(	(	PUNCT
ajfa-8136	265	13	other	other	ADJ
ajfa-8136	265	14	)	)	PUNCT
ajfa-8136	265	15	investors	investor	NOUN
ajfa-8136	265	16	,	,	PUNCT
ajfa-8136	265	17	which	which	PRON
ajfa-8136	265	18	lead	lead	VERB
ajfa-8136	265	19	to	to	ADP
ajfa-8136	265	20	enhanced	enhanced	ADJ
ajfa-8136	265	21	liquidity	liquidity	NOUN
ajfa-8136	265	22	of	of	ADP
ajfa-8136	265	23	the	the	DET
ajfa-8136	265	24	firm	firm	NOUN
ajfa-8136	265	25	’s	’s	PART
ajfa-8136	265	26	share.guo	share.guo	PRON
ajfa-8136	265	27	and	and	CCONJ
ajfa-8136	265	28	zhou	zhou	PROPN
ajfa-8136	265	29	(	(	PUNCT
ajfa-8136	265	30	2006	2006	NUM
ajfa-8136	265	31	)	)	PUNCT
ajfa-8136	265	32	reported	report	VERB
ajfa-8136	265	33	that	that	SCONJ
ajfa-8136	265	34	liquidity	liquidity	NOUN
ajfa-8136	265	35	is	be	AUX
ajfa-8136	265	36	enhanced	enhance	VERB
ajfa-8136	265	37	after	after	ADP
ajfa-8136	265	38	a	a	DET
ajfa-8136	265	39	stock	stock	NOUN
ajfa-8136	265	40	split	split	NOUN
ajfa-8136	265	41	which	which	PRON
ajfa-8136	265	42	is	be	AUX
ajfa-8136	265	43	attributed	attribute	VERB
ajfa-8136	265	44	to	to	ADP
ajfa-8136	265	45	reduction	reduction	NOUN
ajfa-8136	265	46	in	in	ADP
ajfa-8136	265	47	information	information	NOUN
ajfa-8136	265	48	asymmetries	asymmetry	NOUN
ajfa-8136	265	49	due	due	ADP
ajfa-8136	265	50	to	to	ADP
ajfa-8136	265	51	disclosure	disclosure	NOUN
ajfa-8136	265	52	of	of	ADP
ajfa-8136	265	53	private	private	ADJ
ajfa-8136	265	54	information	information	NOUN
ajfa-8136	265	55	to	to	ADP
ajfa-8136	265	56	the	the	DET
ajfa-8136	265	57	public	public	NOUN
ajfa-8136	265	58	.	.	PUNCT
ajfa-8136	266	1	weston	weston	PROPN
ajfa-8136	266	2	et	et	PROPN
ajfa-8136	266	3	al	al	PROPN
ajfa-8136	266	4	.	.	PROPN
ajfa-8136	267	1	(	(	PUNCT
ajfa-8136	267	2	2005	2005	NUM
ajfa-8136	267	3	)	)	PUNCT
ajfa-8136	267	4	recommends	recommend	VERB
ajfa-8136	267	5	that	that	SCONJ
ajfa-8136	267	6	firms	firm	NOUN
ajfa-8136	267	7	can	can	AUX
ajfa-8136	267	8	reduce	reduce	VERB
ajfa-8136	267	9	the	the	DET
ajfa-8136	267	10	cost	cost	NOUN
ajfa-8136	267	11	of	of	ADP
ajfa-8136	267	12	raising	raise	VERB
ajfa-8136	267	13	capital	capital	NOUN
ajfa-8136	267	14	by	by	ADP
ajfa-8136	267	15	improving	improve	VERB
ajfa-8136	267	16	the	the	DET
ajfa-8136	267	17	market	market	NOUN
ajfa-8136	267	18	liquidity	liquidity	NOUN
ajfa-8136	267	19	of	of	ADP
ajfa-8136	267	20	their	their	PRON
ajfa-8136	267	21	stock	stock	NOUN
ajfa-8136	267	22	.	.	PUNCT
ajfa-8136	268	1	employing	employ	VERB
ajfa-8136	268	2	the	the	DET
ajfa-8136	268	3	large	large	ADJ
ajfa-8136	268	4	sample	sample	NOUN
ajfa-8136	268	5	of	of	ADP
ajfa-8136	268	6	firms	firm	NOUN
ajfa-8136	268	7	,	,	PUNCT
ajfa-8136	268	8	the	the	DET
ajfa-8136	268	9	study	study	NOUN
ajfa-8136	268	10	reports	report	VERB
ajfa-8136	268	11	that	that	SCONJ
ajfa-8136	268	12	the	the	DET
ajfa-8136	268	13	fees	fee	NOUN
ajfa-8136	268	14	charged	charge	VERB
ajfa-8136	268	15	by	by	ADP
ajfa-8136	268	16	the	the	DET
ajfa-8136	268	17	investment	investment	NOUN
ajfa-8136	268	18	banking	banking	NOUN
ajfa-8136	268	19	firms	firm	NOUN
ajfa-8136	268	20	for	for	ADP
ajfa-8136	268	21	fpo	fpo	PROPN
ajfa-8136	268	22	’s	’s	PART
ajfa-8136	268	23	are	be	AUX
ajfa-8136	268	24	lower	low	ADJ
ajfa-8136	268	25	for	for	SCONJ
ajfa-8136	268	26	the	the	DET
ajfa-8136	268	27	firms	firm	NOUN
ajfa-8136	268	28	having	have	VERB
ajfa-8136	268	29	liquid	liquid	ADJ
ajfa-8136	268	30	stock.bundgaard	stock.bundgaard	PROPN
ajfa-8136	268	31	and	and	CCONJ
ajfa-8136	268	32	ahm	ahm	PROPN
ajfa-8136	268	33	(	(	PUNCT
ajfa-8136	268	34	2012	2012	NUM
ajfa-8136	268	35	)	)	PUNCT
ajfa-8136	268	36	reported	report	VERB
ajfa-8136	268	37	that	that	SCONJ
ajfa-8136	268	38	secondary	secondary	ADJ
ajfa-8136	268	39	market	market	NOUN
ajfa-8136	268	40	liquidity	liquidity	NOUN
ajfa-8136	268	41	is	be	AUX
ajfa-8136	268	42	a	a	DET
ajfa-8136	268	43	key	key	ADJ
ajfa-8136	268	44	factor	factor	NOUN
ajfa-8136	268	45	in	in	ADP
ajfa-8136	268	46	predicting	predict	VERB
ajfa-8136	268	47	combined	combined	ADJ
ajfa-8136	268	48	cost	cost	NOUN
ajfa-8136	268	49	of	of	ADP
ajfa-8136	268	50	issuing	issue	VERB
ajfa-8136	268	51	securities	security	NOUN
ajfa-8136	268	52	under	under	ADP
ajfa-8136	268	53	follow	follow	NOUN
ajfa-8136	268	54	on	on	ADP
ajfa-8136	268	55	public	public	ADJ
ajfa-8136	268	56	offers	offer	NOUN
ajfa-8136	268	57	(	(	PUNCT
ajfa-8136	268	58	fpo	fpo	PROPN
ajfa-8136	268	59	’s	’s	PART
ajfa-8136	268	60	)	)	PUNCT
ajfa-8136	268	61	.	.	PUNCT
ajfa-8136	269	1	firms	firm	NOUN
ajfa-8136	269	2	with	with	ADP
ajfa-8136	269	3	more	more	ADJ
ajfa-8136	269	4	liquid	liquid	ADJ
ajfa-8136	269	5	shares	share	NOUN
ajfa-8136	269	6	are	be	AUX
ajfa-8136	269	7	able	able	ADJ
ajfa-8136	269	8	to	to	PART
ajfa-8136	269	9	issue	issue	VERB
ajfa-8136	269	10	fresh	fresh	ADJ
ajfa-8136	269	11	shares	share	NOUN
ajfa-8136	269	12	at	at	ADP
ajfa-8136	269	13	reduced	reduce	VERB
ajfa-8136	269	14	costs	cost	NOUN
ajfa-8136	269	15	in	in	ADP
ajfa-8136	269	16	comparison	comparison	NOUN
ajfa-8136	269	17	to	to	ADP
ajfa-8136	269	18	the	the	DET
ajfa-8136	269	19	firms	firm	NOUN
ajfa-8136	269	20	which	which	PRON
ajfa-8136	269	21	have	have	VERB
ajfa-8136	269	22	less	less	ADJ
ajfa-8136	269	23	liquid	liquid	ADJ
ajfa-8136	269	24	shares	share	NOUN
ajfa-8136	269	25	.	.	PUNCT
ajfa-8136	270	1	the	the	DET
ajfa-8136	270	2	phenomenon	phenomenon	NOUN
ajfa-8136	270	3	closely	closely	ADV
ajfa-8136	270	4	falls	fall	VERB
ajfa-8136	270	5	in	in	ADP
ajfa-8136	270	6	lines	line	NOUN
ajfa-8136	270	7	with	with	ADP
ajfa-8136	270	8	the	the	DET
ajfa-8136	270	9	study	study	NOUN
ajfa-8136	270	10	of	of	ADP
ajfa-8136	270	11	amihud	amihud	PROPN
ajfa-8136	270	12	and	and	CCONJ
ajfa-8136	270	13	mendelson	mendelson	PROPN
ajfa-8136	270	14	(	(	PUNCT
ajfa-8136	270	15	1986	1986	NUM
ajfa-8136	270	16	)	)	PUNCT
ajfa-8136	270	17	that	that	SCONJ
ajfa-8136	270	18	illiquidity	illiquidity	NOUN
ajfa-8136	270	19	is	be	AUX
ajfa-8136	270	20	priced	price	VERB
ajfa-8136	270	21	in	in	ADP
ajfa-8136	270	22	the	the	DET
ajfa-8136	270	23	market	market	NOUN
ajfa-8136	270	24	,	,	PUNCT
ajfa-8136	270	25	making	make	VERB
ajfa-8136	270	26	illiquid	illiquid	ADJ
ajfa-8136	270	27	assets	asset	NOUN
ajfa-8136	270	28	to	to	PART
ajfa-8136	270	29	trade	trade	VERB
ajfa-8136	270	30	at	at	ADP
ajfa-8136	270	31	a	a	DET
ajfa-8136	270	32	discount	discount	NOUN
ajfa-8136	270	33	.	.	PUNCT
ajfa-8136	271	1	therefore	therefore	ADV
ajfa-8136	271	2	,	,	PUNCT
ajfa-8136	271	3	greater	great	ADJ
ajfa-8136	271	4	market	market	NOUN
ajfa-8136	271	5	liquidity	liquidity	NOUN
ajfa-8136	271	6	of	of	ADP
ajfa-8136	271	7	the	the	DET
ajfa-8136	271	8	stocks	stock	NOUN
ajfa-8136	271	9	is	be	AUX
ajfa-8136	271	10	in	in	ADP
ajfa-8136	271	11	greater	great	ADJ
ajfa-8136	271	12	interests	interest	NOUN
ajfa-8136	271	13	of	of	ADP
ajfa-8136	271	14	the	the	DET
ajfa-8136	271	15	firms	firm	NOUN
ajfa-8136	271	16	.	.	PUNCT
ajfa-8136	272	1	spindtet	spindtet	PROPN
ajfa-8136	273	1	al	al	PROPN
ajfa-8136	273	2	.	.	PROPN
ajfa-8136	273	3	(	(	PUNCT
ajfa-8136	273	4	2007	2007	NUM
ajfa-8136	273	5	)	)	PUNCT
ajfa-8136	273	6	reported	report	VERB
ajfa-8136	273	7	empirical	empirical	ADJ
ajfa-8136	273	8	relationship	relationship	NOUN
ajfa-8136	273	9	between	between	ADP
ajfa-8136	273	10	dividend	dividend	NOUN
ajfa-8136	273	11	policy	policy	NOUN
ajfa-8136	273	12	and	and	CCONJ
ajfa-8136	273	13	liquidity	liquidity	NOUN
ajfa-8136	273	14	of	of	ADP
ajfa-8136	273	15	firm	firm	NOUN
ajfa-8136	273	16	’s	’s	PART
ajfa-8136	273	17	share	share	NOUN
ajfa-8136	273	18	.	.	PUNCT
ajfa-8136	274	1	investors	investor	NOUN
ajfa-8136	274	2	demand	demand	VERB
ajfa-8136	274	3	for	for	ADP
ajfa-8136	274	4	cash	cash	NOUN
ajfa-8136	274	5	dividends	dividend	NOUN
ajfa-8136	274	6	is	be	AUX
ajfa-8136	274	7	higher	high	ADJ
ajfa-8136	274	8	in	in	ADP
ajfa-8136	274	9	illiquid	illiquid	ADJ
ajfa-8136	274	10	markets	market	NOUN
ajfa-8136	274	11	.	.	PUNCT
ajfa-8136	275	1	brockman	brockman	PROPN
ajfa-8136	275	2	et	et	PROPN
ajfa-8136	275	3	al	al	PROPN
ajfa-8136	275	4	.	.	PROPN
ajfa-8136	276	1	(	(	PUNCT
ajfa-8136	276	2	2008	2008	NUM
ajfa-8136	276	3	)	)	PUNCT
ajfa-8136	276	4	studied	study	VERB
ajfa-8136	276	5	the	the	DET
ajfa-8136	276	6	impact	impact	NOUN
ajfa-8136	276	7	of	of	ADP
ajfa-8136	276	8	stock	stock	NOUN
ajfa-8136	276	9	market	market	NOUN
ajfa-8136	276	10	liquidity	liquidity	NOUN
ajfa-8136	276	11	on	on	ADP
ajfa-8136	276	12	payout	payout	ADJ
ajfa-8136	276	13	decisions	decision	NOUN
ajfa-8136	276	14	of	of	ADP
ajfa-8136	276	15	the	the	DET
ajfa-8136	276	16	firm	firm	NOUN
ajfa-8136	276	17	of	of	ADP
ajfa-8136	276	18	the	the	DET
ajfa-8136	276	19	stocks	stock	NOUN
ajfa-8136	276	20	listed	list	VERB
ajfa-8136	276	21	on	on	ADP
ajfa-8136	276	22	nyse	nyse	PROPN
ajfa-8136	276	23	.	.	PUNCT
ajfa-8136	277	1	they	they	PRON
ajfa-8136	277	2	empirically	empirically	ADV
ajfa-8136	277	3	confirmed	confirm	VERB
ajfa-8136	277	4	that	that	SCONJ
ajfa-8136	277	5	higher	high	ADJ
ajfa-8136	277	6	market	market	NOUN
ajfa-8136	277	7	liquidity	liquidity	NOUN
ajfa-8136	277	8	encourages	encourage	VERB
ajfa-8136	277	9	the	the	DET
ajfa-8136	277	10	use	use	NOUN
ajfa-8136	277	11	of	of	ADP
ajfa-8136	277	12	repurchases	repurchase	NOUN
ajfa-8136	277	13	over	over	ADP
ajfa-8136	277	14	dividends	dividend	NOUN
ajfa-8136	277	15	.	.	PUNCT
ajfa-8136	278	1	lipsona	lipsona	NOUN
ajfa-8136	278	2	and	and	CCONJ
ajfa-8136	278	3	mortal	mortal	ADJ
ajfa-8136	278	4	(	(	PUNCT
ajfa-8136	278	5	2009	2009	NUM
ajfa-8136	278	6	)	)	PUNCT
ajfa-8136	278	7	provide	provide	VERB
ajfa-8136	278	8	evidence	evidence	NOUN
ajfa-8136	278	9	that	that	SCONJ
ajfa-8136	278	10	firms	firm	NOUN
ajfa-8136	278	11	with	with	ADP
ajfa-8136	278	12	more	more	ADJ
ajfa-8136	278	13	liquid	liquid	ADJ
ajfa-8136	278	14	shares	share	NOUN
ajfa-8136	278	15	have	have	AUX
ajfa-8136	278	16	lower	low	ADJ
ajfa-8136	278	17	leverage	leverage	NOUN
ajfa-8136	278	18	and	and	CCONJ
ajfa-8136	278	19	prefer	prefer	VERB
ajfa-8136	278	20	equity	equity	NOUN
ajfa-8136	278	21	financing	financing	NOUN
ajfa-8136	278	22	when	when	SCONJ
ajfa-8136	278	23	raising	raise	VERB
ajfa-8136	278	24	capital	capital	NOUN
ajfa-8136	278	25	.	.	PUNCT
ajfa-8136	279	1	enhanced	enhance	VERB
ajfa-8136	279	2	liquidity	liquidity	NOUN
ajfa-8136	279	3	reduced	reduce	VERB
ajfa-8136	279	4	the	the	DET
ajfa-8136	279	5	required	require	VERB
ajfa-8136	279	6	return	return	NOUN
ajfa-8136	279	7	on	on	ADP
ajfa-8136	279	8	equity	equity	NOUN
ajfa-8136	279	9	and	and	CCONJ
ajfa-8136	279	10	cost	cost	NOUN
ajfa-8136	279	11	of	of	ADP
ajfa-8136	279	12	capital	capital	NOUN
ajfa-8136	279	13	.	.	PUNCT
ajfa-8136	280	1	therefore	therefore	ADV
ajfa-8136	280	2	the	the	DET
ajfa-8136	280	3	firms	firm	NOUN
ajfa-8136	280	4	make	make	VERB
ajfa-8136	280	5	efforts	effort	NOUN
ajfa-8136	280	6	in	in	ADP
ajfa-8136	280	7	order	order	NOUN
ajfa-8136	280	8	to	to	PART
ajfa-8136	280	9	increase	increase	VERB
ajfa-8136	280	10	liquidity	liquidity	NOUN
ajfa-8136	280	11	and	and	CCONJ
ajfa-8136	280	12	hence	hence	ADV
ajfa-8136	280	13	equity	equity	NOUN
ajfa-8136	280	14	in	in	ADP
ajfa-8136	280	15	their	their	PRON
ajfa-8136	280	16	capital	capital	NOUN
ajfa-8136	280	17	structures	structure	NOUN
ajfa-8136	280	18	.	.	PUNCT
ajfa-8136	281	1	jayaraman	jayaraman	NOUN
ajfa-8136	281	2	and	and	CCONJ
ajfa-8136	281	3	milbrourn	milbrourn	NOUN
ajfa-8136	281	4	(	(	PUNCT
ajfa-8136	281	5	2011	2011	NUM
ajfa-8136	281	6	)	)	PUNCT
ajfa-8136	281	7	asian	asian	ADJ
ajfa-8136	281	8	journal	journal	NOUN
ajfa-8136	281	9	of	of	ADP
ajfa-8136	281	10	finance	finance	PROPN
ajfa-8136	281	11	&	&	CCONJ
ajfa-8136	281	12	accounting	accounting	PROPN
ajfa-8136	281	13	issn	issn	PROPN
ajfa-8136	281	14	1946	1946	NUM
ajfa-8136	281	15	-	-	PUNCT
ajfa-8136	281	16	052x	052x	NOUN
ajfa-8136	281	17	2015	2015	NUM
ajfa-8136	281	18	,	,	PUNCT
ajfa-8136	281	19	vol	vol	NOUN
ajfa-8136	281	20	.	.	PROPN
ajfa-8136	281	21	7	7	NUM
ajfa-8136	281	22	,	,	PUNCT
ajfa-8136	281	23	no	no	INTJ
ajfa-8136	281	24	.	.	NOUN
ajfa-8136	281	25	2	2	NUM
ajfa-8136	281	26	48	48	NUM
ajfa-8136	281	27	find	find	VERB
ajfa-8136	281	28	evidence	evidence	NOUN
ajfa-8136	281	29	that	that	SCONJ
ajfa-8136	281	30	firms	firm	NOUN
ajfa-8136	281	31	with	with	ADP
ajfa-8136	281	32	greater	great	ADJ
ajfa-8136	281	33	stock	stock	NOUN
ajfa-8136	281	34	liquidity	liquidity	NOUN
ajfa-8136	281	35	rely	rely	VERB
ajfa-8136	281	36	more	more	ADV
ajfa-8136	281	37	on	on	ADP
ajfa-8136	281	38	equity	equity	NOUN
ajfa-8136	281	39	based	base	VERB
ajfa-8136	281	40	compensation	compensation	NOUN
ajfa-8136	281	41	and	and	CCONJ
ajfa-8136	281	42	less	less	ADJ
ajfa-8136	281	43	on	on	ADP
ajfa-8136	281	44	cash	cash	NOUN
ajfa-8136	281	45	-	-	PUNCT
ajfa-8136	281	46	based	base	VERB
ajfa-8136	281	47	compensation	compensation	NOUN
ajfa-8136	281	48	as	as	ADP
ajfa-8136	281	49	part	part	NOUN
ajfa-8136	281	50	of	of	ADP
ajfa-8136	281	51	annual	annual	ADJ
ajfa-8136	281	52	contracts	contract	NOUN
ajfa-8136	281	53	.	.	PUNCT
ajfa-8136	282	1	the	the	DET
ajfa-8136	282	2	study	study	NOUN
ajfa-8136	282	3	further	further	ADJ
ajfa-8136	282	4	reports	report	NOUN
ajfa-8136	282	5	that	that	SCONJ
ajfa-8136	282	6	the	the	DET
ajfa-8136	282	7	firms	firm	NOUN
ajfa-8136	282	8	with	with	ADP
ajfa-8136	282	9	greater	great	ADJ
ajfa-8136	282	10	stock	stock	NOUN
ajfa-8136	282	11	liquidity	liquidity	NOUN
ajfa-8136	282	12	have	have	VERB
ajfa-8136	282	13	reliance	reliance	NOUN
ajfa-8136	282	14	on	on	ADP
ajfa-8136	282	15	stock	stock	NOUN
ajfa-8136	282	16	prices	price	NOUN
ajfa-8136	282	17	in	in	ADP
ajfa-8136	282	18	designing	design	VERB
ajfa-8136	282	19	executive	executive	ADJ
ajfa-8136	282	20	compensation	compensation	NOUN
ajfa-8136	282	21	.	.	PUNCT
ajfa-8136	283	1	hillert	hillert	INTJ
ajfa-8136	283	2	and	and	CCONJ
ajfa-8136	283	3	obernberger	obernberger	NOUN
ajfa-8136	283	4	(	(	PUNCT
ajfa-8136	283	5	2015	2015	NUM
ajfa-8136	283	6	)	)	PUNCT
ajfa-8136	283	7	studied	study	VERB
ajfa-8136	283	8	the	the	DET
ajfa-8136	283	9	relationship	relationship	NOUN
ajfa-8136	283	10	between	between	ADP
ajfa-8136	283	11	stock	stock	NOUN
ajfa-8136	283	12	repurchases	repurchase	NOUN
ajfa-8136	283	13	and	and	CCONJ
ajfa-8136	283	14	liquidity	liquidity	NOUN
ajfa-8136	283	15	on	on	ADP
ajfa-8136	283	16	us	us	PROPN
ajfa-8136	283	17	markets	market	NOUN
ajfa-8136	283	18	.	.	PUNCT
ajfa-8136	284	1	the	the	DET
ajfa-8136	284	2	study	study	NOUN
ajfa-8136	284	3	reports	report	VERB
ajfa-8136	284	4	that	that	SCONJ
ajfa-8136	284	5	smaller	small	ADJ
ajfa-8136	284	6	repurchases	repurchase	NOUN
ajfa-8136	284	7	consume	consume	VERB
ajfa-8136	284	8	liquidity	liquidity	NOUN
ajfa-8136	284	9	,	,	PUNCT
ajfa-8136	284	10	whereas	whereas	SCONJ
ajfa-8136	284	11	larger	large	ADJ
ajfa-8136	284	12	repurchases	repurchase	NOUN
ajfa-8136	284	13	provide	provide	VERB
ajfa-8136	284	14	liquidity	liquidity	NOUN
ajfa-8136	284	15	.	.	PUNCT
ajfa-8136	285	1	repurchases	repurchase	NOUN
ajfa-8136	285	2	tend	tend	VERB
ajfa-8136	285	3	to	to	PART
ajfa-8136	285	4	provide	provide	VERB
ajfa-8136	285	5	liquidity	liquidity	NOUN
ajfa-8136	285	6	if	if	SCONJ
ajfa-8136	285	7	they	they	PRON
ajfa-8136	285	8	contain	contain	VERB
ajfa-8136	285	9	more	more	ADJ
ajfa-8136	285	10	information	information	NOUN
ajfa-8136	285	11	.	.	PUNCT
ajfa-8136	286	1	the	the	DET
ajfa-8136	286	2	results	result	NOUN
ajfa-8136	286	3	of	of	ADP
ajfa-8136	286	4	the	the	DET
ajfa-8136	286	5	study	study	NOUN
ajfa-8136	286	6	are	be	AUX
ajfa-8136	286	7	interpreted	interpret	VERB
ajfa-8136	286	8	context	context	NOUN
ajfa-8136	286	9	of	of	ADP
ajfa-8136	286	10	recent	recent	ADJ
ajfa-8136	286	11	research	research	NOUN
ajfa-8136	286	12	in	in	ADP
ajfa-8136	286	13	market	market	NOUN
ajfa-8136	286	14	microstructure	microstructure	NOUN
ajfa-8136	286	15	on	on	ADP
ajfa-8136	286	16	limit	limit	NOUN
ajfa-8136	286	17	order	order	NOUN
ajfa-8136	286	18	markets	market	NOUN
ajfa-8136	286	19	which	which	PRON
ajfa-8136	286	20	says	say	VERB
ajfa-8136	286	21	that	that	SCONJ
ajfa-8136	286	22	,	,	PUNCT
ajfa-8136	286	23	informed	inform	VERB
ajfa-8136	286	24	traders	trader	NOUN
ajfa-8136	286	25	do	do	AUX
ajfa-8136	286	26	make	make	VERB
ajfa-8136	286	27	use	use	NOUN
ajfa-8136	286	28	of	of	ADP
ajfa-8136	286	29	limit	limit	NOUN
ajfa-8136	286	30	orders	order	NOUN
ajfa-8136	286	31	and	and	CCONJ
ajfa-8136	286	32	provide	provide	VERB
ajfa-8136	286	33	liquidity	liquidity	NOUN
ajfa-8136	286	34	to	to	ADP
ajfa-8136	286	35	the	the	DET
ajfa-8136	286	36	market	market	NOUN
ajfa-8136	286	37	.	.	PUNCT
ajfa-8136	287	1	8	8	X
ajfa-8136	287	2	.	.	X
ajfa-8136	287	3	conclusion	conclusion	NOUN
ajfa-8136	287	4	‘	'	PUNCT
ajfa-8136	287	5	stock	stock	NOUN
ajfa-8136	287	6	liquidity	liquidity	NOUN
ajfa-8136	287	7	’	'	PUNCT
ajfa-8136	287	8	as	as	SCONJ
ajfa-8136	287	9	a	a	DET
ajfa-8136	287	10	concept	concept	NOUN
ajfa-8136	287	11	research	research	NOUN
ajfa-8136	287	12	was	be	AUX
ajfa-8136	287	13	first	first	ADV
ajfa-8136	287	14	initiated	initiate	VERB
ajfa-8136	287	15	by	by	ADP
ajfa-8136	287	16	amihud	amihud	PROPN
ajfa-8136	287	17	in	in	ADP
ajfa-8136	287	18	1986	1986	NUM
ajfa-8136	287	19	.	.	PUNCT
ajfa-8136	288	1	since	since	SCONJ
ajfa-8136	288	2	then	then	ADV
ajfa-8136	288	3	,	,	PUNCT
ajfa-8136	288	4	research	research	NOUN
ajfa-8136	288	5	has	have	AUX
ajfa-8136	288	6	been	be	AUX
ajfa-8136	288	7	going	go	VERB
ajfa-8136	288	8	on	on	ADP
ajfa-8136	288	9	in	in	ADP
ajfa-8136	288	10	area	area	NOUN
ajfa-8136	288	11	of	of	ADP
ajfa-8136	288	12	defining	define	VERB
ajfa-8136	288	13	liquidity	liquidity	NOUN
ajfa-8136	288	14	,	,	PUNCT
ajfa-8136	288	15	designing	design	VERB
ajfa-8136	288	16	measures	measure	NOUN
ajfa-8136	288	17	to	to	PART
ajfa-8136	288	18	quantify	quantify	VERB
ajfa-8136	288	19	liquidity	liquidity	NOUN
ajfa-8136	288	20	,	,	PUNCT
ajfa-8136	288	21	identifying	identify	VERB
ajfa-8136	288	22	determinants	determinant	NOUN
ajfa-8136	288	23	of	of	ADP
ajfa-8136	288	24	liquidity	liquidity	NOUN
ajfa-8136	288	25	and	and	CCONJ
ajfa-8136	288	26	implications	implication	NOUN
ajfa-8136	288	27	of	of	ADP
ajfa-8136	288	28	liquidity	liquidity	NOUN
ajfa-8136	288	29	on	on	ADP
ajfa-8136	288	30	asset	asset	NOUN
ajfa-8136	288	31	pricing	pricing	NOUN
ajfa-8136	288	32	,	,	PUNCT
ajfa-8136	288	33	dividend	dividend	NOUN
ajfa-8136	288	34	policy	policy	NOUN
ajfa-8136	288	35	,	,	PUNCT
ajfa-8136	288	36	returns	return	NOUN
ajfa-8136	288	37	and	and	CCONJ
ajfa-8136	288	38	market	market	NOUN
ajfa-8136	288	39	efficiency	efficiency	NOUN
ajfa-8136	288	40	.	.	PUNCT
ajfa-8136	289	1	this	this	DET
ajfa-8136	289	2	study	study	NOUN
ajfa-8136	289	3	has	have	AUX
ajfa-8136	289	4	analyzed	analyze	VERB
ajfa-8136	289	5	various	various	ADJ
ajfa-8136	289	6	literature	literature	NOUN
ajfa-8136	289	7	related	relate	VERB
ajfa-8136	289	8	to	to	ADP
ajfa-8136	289	9	the	the	DET
ajfa-8136	289	10	ongoing	ongoing	ADJ
ajfa-8136	289	11	research	research	NOUN
ajfa-8136	289	12	in	in	ADP
ajfa-8136	289	13	area	area	NOUN
ajfa-8136	289	14	of	of	ADP
ajfa-8136	289	15	liquidity	liquidity	NOUN
ajfa-8136	289	16	in	in	ADP
ajfa-8136	289	17	stock	stock	NOUN
ajfa-8136	289	18	markets	market	NOUN
ajfa-8136	289	19	.	.	PUNCT
ajfa-8136	290	1	the	the	DET
ajfa-8136	290	2	literature	literature	NOUN
ajfa-8136	290	3	can	can	AUX
ajfa-8136	290	4	be	be	AUX
ajfa-8136	290	5	categorized	categorize	VERB
ajfa-8136	290	6	into	into	ADP
ajfa-8136	290	7	studying	study	VERB
ajfa-8136	290	8	the	the	DET
ajfa-8136	290	9	factors	factor	NOUN
ajfa-8136	290	10	that	that	PRON
ajfa-8136	290	11	drives	drive	VERB
ajfa-8136	290	12	liquidity	liquidity	NOUN
ajfa-8136	290	13	and	and	CCONJ
ajfa-8136	290	14	how	how	SCONJ
ajfa-8136	290	15	liquidity	liquidity	NOUN
ajfa-8136	290	16	factors	factor	NOUN
ajfa-8136	290	17	in	in	ADP
ajfa-8136	290	18	determining	determine	VERB
ajfa-8136	290	19	the	the	DET
ajfa-8136	290	20	returns	return	NOUN
ajfa-8136	290	21	,	,	PUNCT
ajfa-8136	290	22	asset	asset	NOUN
ajfa-8136	290	23	pricing	pricing	NOUN
ajfa-8136	290	24	and	and	CCONJ
ajfa-8136	290	25	corporate	corporate	ADJ
ajfa-8136	290	26	finance	finance	NOUN
ajfa-8136	290	27	decisions	decision	NOUN
ajfa-8136	290	28	.	.	PUNCT
ajfa-8136	291	1	the	the	DET
ajfa-8136	291	2	factor	factor	NOUN
ajfa-8136	291	3	that	that	PRON
ajfa-8136	291	4	drives	drive	VERB
ajfa-8136	291	5	liquidity	liquidity	NOUN
ajfa-8136	291	6	primarily	primarily	ADV
ajfa-8136	291	7	focuses	focus	VERB
ajfa-8136	291	8	on	on	ADP
ajfa-8136	291	9	macroeconomic	macroeconomic	ADJ
ajfa-8136	291	10	,	,	PUNCT
ajfa-8136	291	11	firm	firm	ADJ
ajfa-8136	291	12	-	-	PUNCT
ajfa-8136	291	13	specific	specific	ADJ
ajfa-8136	291	14	determinants	determinant	NOUN
ajfa-8136	291	15	and	and	CCONJ
ajfa-8136	291	16	commonality	commonality	NOUN
ajfa-8136	291	17	in	in	ADP
ajfa-8136	291	18	liquidity	liquidity	NOUN
ajfa-8136	291	19	.	.	PUNCT
ajfa-8136	292	1	on	on	ADP
ajfa-8136	292	2	other	other	ADJ
ajfa-8136	292	3	hand	hand	NOUN
ajfa-8136	292	4	liquidity	liquidity	NOUN
ajfa-8136	292	5	plays	play	VERB
ajfa-8136	292	6	a	a	DET
ajfa-8136	292	7	key	key	ADJ
ajfa-8136	292	8	role	role	NOUN
ajfa-8136	292	9	in	in	ADP
ajfa-8136	292	10	impacting	impact	VERB
ajfa-8136	292	11	daily	daily	ADV
ajfa-8136	292	12	as	as	ADV
ajfa-8136	292	13	well	well	ADV
ajfa-8136	292	14	as	as	ADP
ajfa-8136	292	15	intraday	intraday	NOUN
ajfa-8136	292	16	returns	return	NOUN
ajfa-8136	292	17	,	,	PUNCT
ajfa-8136	292	18	asset	asset	NOUN
ajfa-8136	292	19	pricing	pricing	NOUN
ajfa-8136	292	20	and	and	CCONJ
ajfa-8136	292	21	key	key	ADJ
ajfa-8136	292	22	corporate	corporate	ADJ
ajfa-8136	292	23	decisions	decision	NOUN
ajfa-8136	292	24	viz	viz	NOUN
ajfa-8136	292	25	.	.	PUNCT
ajfa-8136	293	1	dividends	dividend	NOUN
ajfa-8136	293	2	,	,	PUNCT
ajfa-8136	293	3	stock	stock	NOUN
ajfa-8136	293	4	splits	split	VERB
ajfa-8136	293	5	,	,	PUNCT
ajfa-8136	293	6	executive	executive	NOUN
ajfa-8136	293	7	compensation	compensation	NOUN
ajfa-8136	293	8	etc	etc	X
ajfa-8136	293	9	.	.	PUNCT
ajfa-8136	294	1	so	so	ADV
ajfa-8136	294	2	,	,	PUNCT
ajfa-8136	294	3	far	far	ADV
ajfa-8136	294	4	most	most	ADJ
ajfa-8136	294	5	of	of	ADP
ajfa-8136	294	6	the	the	DET
ajfa-8136	294	7	studies	study	NOUN
ajfa-8136	294	8	are	be	AUX
ajfa-8136	294	9	focused	focus	VERB
ajfa-8136	294	10	on	on	ADP
ajfa-8136	294	11	quote	quote	INTJ
ajfa-8136	294	12	driven	drive	VERB
ajfa-8136	294	13	markets	market	NOUN
ajfa-8136	294	14	e.g.	e.g.	ADV
ajfa-8136	294	15	usa	usa	PROPN
ajfa-8136	294	16	.	.	PROPN
ajfa-8136	294	17	liquidity	liquidity	NOUN
ajfa-8136	294	18	in	in	ADP
ajfa-8136	294	19	stock	stock	NOUN
ajfa-8136	294	20	markets	market	NOUN
ajfa-8136	294	21	as	as	ADP
ajfa-8136	294	22	a	a	DET
ajfa-8136	294	23	research	research	NOUN
ajfa-8136	294	24	area	area	NOUN
ajfa-8136	294	25	have	have	AUX
ajfa-8136	294	26	been	be	AUX
ajfa-8136	294	27	bringing	bring	VERB
ajfa-8136	294	28	out	out	ADP
ajfa-8136	294	29	quality	quality	NOUN
ajfa-8136	294	30	research	research	NOUN
ajfa-8136	294	31	,	,	PUNCT
ajfa-8136	294	32	however	however	ADV
ajfa-8136	294	33	,	,	PUNCT
ajfa-8136	294	34	the	the	DET
ajfa-8136	294	35	developing	develop	VERB
ajfa-8136	294	36	world	world	NOUN
ajfa-8136	294	37	lags	lag	VERB
ajfa-8136	294	38	behind	behind	ADP
ajfa-8136	294	39	the	the	DET
ajfa-8136	294	40	developed	develop	VERB
ajfa-8136	294	41	world	world	NOUN
ajfa-8136	294	42	which	which	PRON
ajfa-8136	294	43	can	can	AUX
ajfa-8136	294	44	have	have	VERB
ajfa-8136	294	45	an	an	DET
ajfa-8136	294	46	impact	impact	NOUN
ajfa-8136	294	47	on	on	ADP
ajfa-8136	294	48	the	the	DET
ajfa-8136	294	49	policy	policy	NOUN
ajfa-8136	294	50	by	by	ADP
ajfa-8136	294	51	the	the	DET
ajfa-8136	294	52	security	security	NOUN
ajfa-8136	294	53	regulators	regulator	NOUN
ajfa-8136	294	54	.	.	PUNCT
ajfa-8136	295	1	the	the	DET
ajfa-8136	295	2	extensive	extensive	ADJ
ajfa-8136	295	3	review	review	NOUN
ajfa-8136	295	4	of	of	ADP
ajfa-8136	295	5	literature	literature	NOUN
ajfa-8136	295	6	draws	draw	VERB
ajfa-8136	295	7	the	the	DET
ajfa-8136	295	8	future	future	ADJ
ajfa-8136	295	9	scope	scope	NOUN
ajfa-8136	295	10	of	of	ADP
ajfa-8136	295	11	study	study	NOUN
ajfa-8136	295	12	in	in	ADP
ajfa-8136	295	13	this	this	DET
ajfa-8136	295	14	key	key	ADJ
ajfa-8136	295	15	area	area	NOUN
ajfa-8136	295	16	.	.	PUNCT
ajfa-8136	296	1	to	to	PART
ajfa-8136	296	2	capture	capture	VERB
ajfa-8136	296	3	various	various	ADJ
ajfa-8136	296	4	characteristics	characteristic	NOUN
ajfa-8136	296	5	and	and	CCONJ
ajfa-8136	296	6	dimensions	dimension	NOUN
ajfa-8136	296	7	of	of	ADP
ajfa-8136	296	8	liquidity	liquidity	NOUN
ajfa-8136	296	9	multiplicities	multiplicity	NOUN
ajfa-8136	296	10	of	of	ADP
ajfa-8136	296	11	proxies	proxy	NOUN
ajfa-8136	296	12	have	have	AUX
ajfa-8136	296	13	been	be	AUX
ajfa-8136	296	14	designed	design	VERB
ajfa-8136	296	15	by	by	ADP
ajfa-8136	296	16	many	many	ADJ
ajfa-8136	296	17	researchers	researcher	NOUN
ajfa-8136	296	18	.	.	PUNCT
ajfa-8136	297	1	these	these	DET
ajfa-8136	297	2	proxies	proxy	NOUN
ajfa-8136	297	3	have	have	AUX
ajfa-8136	297	4	been	be	AUX
ajfa-8136	297	5	measuring	measure	VERB
ajfa-8136	297	6	liquidity	liquidity	NOUN
ajfa-8136	297	7	in	in	ADP
ajfa-8136	297	8	different	different	ADJ
ajfa-8136	297	9	degree	degree	NOUN
ajfa-8136	297	10	in	in	ADP
ajfa-8136	297	11	different	different	ADJ
ajfa-8136	297	12	markets	market	NOUN
ajfa-8136	297	13	.	.	PUNCT
ajfa-8136	298	1	some	some	DET
ajfa-8136	298	2	liquidity	liquidity	NOUN
ajfa-8136	298	3	proxies	proxy	NOUN
ajfa-8136	298	4	have	have	AUX
ajfa-8136	298	5	been	be	AUX
ajfa-8136	298	6	benchmarked	benchmarke	VERB
ajfa-8136	298	7	using	use	VERB
ajfa-8136	298	8	high	high	ADJ
ajfa-8136	298	9	frequency	frequency	NOUN
ajfa-8136	298	10	and	and	CCONJ
ajfa-8136	298	11	order	order	NOUN
ajfa-8136	298	12	driven	drive	VERB
ajfa-8136	298	13	stock	stock	NOUN
ajfa-8136	298	14	markets	market	NOUN
ajfa-8136	298	15	of	of	ADP
ajfa-8136	298	16	developed	develop	VERB
ajfa-8136	298	17	countries	country	NOUN
ajfa-8136	298	18	.	.	PUNCT
ajfa-8136	299	1	in	in	ADP
ajfa-8136	299	2	emerging	emerge	VERB
ajfa-8136	299	3	market	market	NOUN
ajfa-8136	299	4	economies	economy	NOUN
ajfa-8136	299	5	low	low	ADJ
ajfa-8136	299	6	frequency	frequency	NOUN
ajfa-8136	299	7	proxies	proxy	NOUN
ajfa-8136	299	8	can	can	AUX
ajfa-8136	299	9	be	be	AUX
ajfa-8136	299	10	evaluated	evaluate	VERB
ajfa-8136	299	11	against	against	ADP
ajfa-8136	299	12	bench	bench	NOUN
ajfa-8136	299	13	marked	mark	VERB
ajfa-8136	299	14	proxies	proxy	NOUN
ajfa-8136	299	15	.	.	PUNCT
ajfa-8136	300	1	macroeconomic	macroeconomic	ADJ
ajfa-8136	300	2	and	and	CCONJ
ajfa-8136	300	3	firm	firm	ADJ
ajfa-8136	300	4	-	-	PUNCT
ajfa-8136	300	5	specific	specific	ADJ
ajfa-8136	300	6	factors	factor	NOUN
ajfa-8136	300	7	as	as	ADP
ajfa-8136	300	8	determinants	determinant	NOUN
ajfa-8136	300	9	of	of	ADP
ajfa-8136	300	10	liquidity	liquidity	NOUN
ajfa-8136	300	11	in	in	ADP
ajfa-8136	300	12	a	a	DET
ajfa-8136	300	13	cross	cross	NOUN
ajfa-8136	300	14	-	-	NOUN
ajfa-8136	300	15	section	section	NOUN
ajfa-8136	300	16	of	of	ADP
ajfa-8136	300	17	firms	firm	NOUN
ajfa-8136	300	18	have	have	AUX
ajfa-8136	300	19	been	be	AUX
ajfa-8136	300	20	significantly	significantly	ADV
ajfa-8136	300	21	explored	explore	VERB
ajfa-8136	300	22	in	in	ADP
ajfa-8136	300	23	developed	develop	VERB
ajfa-8136	300	24	economics	economic	NOUN
ajfa-8136	300	25	.	.	PUNCT
ajfa-8136	301	1	also	also	ADV
ajfa-8136	301	2	,	,	PUNCT
ajfa-8136	301	3	the	the	DET
ajfa-8136	301	4	well	well	ADV
ajfa-8136	301	5	documented	document	VERB
ajfa-8136	301	6	common	common	ADJ
ajfa-8136	301	7	determinants	determinant	NOUN
ajfa-8136	301	8	or	or	CCONJ
ajfa-8136	301	9	commonality	commonality	NOUN
ajfa-8136	301	10	in	in	ADP
ajfa-8136	301	11	liquidity	liquidity	NOUN
ajfa-8136	301	12	may	may	AUX
ajfa-8136	301	13	not	not	PART
ajfa-8136	301	14	be	be	AUX
ajfa-8136	301	15	valid	valid	ADJ
ajfa-8136	301	16	in	in	ADP
ajfa-8136	301	17	emerging	emerge	VERB
ajfa-8136	301	18	market	market	NOUN
ajfa-8136	301	19	economies	economy	NOUN
ajfa-8136	301	20	.	.	PUNCT
ajfa-8136	302	1	it	it	PRON
ajfa-8136	302	2	is	be	AUX
ajfa-8136	302	3	not	not	PART
ajfa-8136	302	4	fully	fully	ADV
ajfa-8136	302	5	understood	understand	VERB
ajfa-8136	302	6	why	why	SCONJ
ajfa-8136	302	7	this	this	DET
ajfa-8136	302	8	phenomenon	phenomenon	NOUN
ajfa-8136	302	9	is	be	AUX
ajfa-8136	302	10	observed	observe	VERB
ajfa-8136	302	11	.	.	PUNCT
ajfa-8136	303	1	identification	identification	NOUN
ajfa-8136	303	2	of	of	ADP
ajfa-8136	303	3	causes	cause	NOUN
ajfa-8136	303	4	driving	drive	VERB
ajfa-8136	303	5	common	common	ADJ
ajfa-8136	303	6	trends	trend	NOUN
ajfa-8136	303	7	of	of	ADP
ajfa-8136	303	8	liquidity	liquidity	NOUN
ajfa-8136	303	9	can	can	AUX
ajfa-8136	303	10	be	be	AUX
ajfa-8136	303	11	an	an	DET
ajfa-8136	303	12	important	important	ADJ
ajfa-8136	303	13	scope	scope	NOUN
ajfa-8136	303	14	for	for	ADP
ajfa-8136	303	15	further	further	ADJ
ajfa-8136	303	16	research	research	NOUN
ajfa-8136	303	17	in	in	ADP
ajfa-8136	303	18	market	market	NOUN
ajfa-8136	303	19	microstructure	microstructure	NOUN
ajfa-8136	303	20	.	.	PUNCT
ajfa-8136	304	1	in	in	ADP
ajfa-8136	304	2	emerging	emerge	VERB
ajfa-8136	304	3	markets	market	NOUN
ajfa-8136	304	4	the	the	DET
ajfa-8136	304	5	complex	complex	ADJ
ajfa-8136	304	6	relationship	relationship	NOUN
ajfa-8136	304	7	among	among	ADP
ajfa-8136	304	8	liquidity	liquidity	NOUN
ajfa-8136	304	9	,	,	PUNCT
ajfa-8136	304	10	stock	stock	NOUN
ajfa-8136	304	11	return	return	NOUN
ajfa-8136	304	12	and	and	CCONJ
ajfa-8136	304	13	liquidity	liquidity	NOUN
ajfa-8136	304	14	risk	risk	NOUN
ajfa-8136	304	15	premium	premium	NOUN
ajfa-8136	304	16	has	have	AUX
ajfa-8136	304	17	not	not	PART
ajfa-8136	304	18	been	be	AUX
ajfa-8136	304	19	tested	test	VERB
ajfa-8136	304	20	in	in	ADP
ajfa-8136	304	21	a	a	DET
ajfa-8136	304	22	wider	wide	ADJ
ajfa-8136	304	23	way	way	NOUN
ajfa-8136	304	24	.	.	PUNCT
ajfa-8136	305	1	similarly	similarly	ADV
ajfa-8136	305	2	,	,	PUNCT
ajfa-8136	305	3	ownership	ownership	NOUN
ajfa-8136	305	4	structure	structure	NOUN
ajfa-8136	305	5	and	and	CCONJ
ajfa-8136	305	6	its	its	PRON
ajfa-8136	305	7	impact	impact	NOUN
ajfa-8136	305	8	on	on	ADP
ajfa-8136	305	9	liquidity	liquidity	NOUN
ajfa-8136	305	10	and	and	CCONJ
ajfa-8136	305	11	implication	implication	NOUN
ajfa-8136	305	12	of	of	ADP
ajfa-8136	305	13	liquidity	liquidity	NOUN
ajfa-8136	305	14	on	on	ADP
ajfa-8136	305	15	cost	cost	NOUN
ajfa-8136	305	16	of	of	ADP
ajfa-8136	305	17	equity	equity	NOUN
ajfa-8136	305	18	,	,	PUNCT
ajfa-8136	305	19	dividend	dividend	NOUN
ajfa-8136	305	20	policy	policy	NOUN
ajfa-8136	305	21	and	and	CCONJ
ajfa-8136	305	22	market	market	NOUN
ajfa-8136	305	23	efficiency	efficiency	NOUN
ajfa-8136	305	24	need	need	VERB
ajfa-8136	305	25	to	to	PART
ajfa-8136	305	26	be	be	AUX
ajfa-8136	305	27	explored	explore	VERB
ajfa-8136	305	28	in	in	ADP
ajfa-8136	305	29	emerging	emerge	VERB
ajfa-8136	305	30	market	market	NOUN
ajfa-8136	305	31	economies	economy	NOUN
ajfa-8136	305	32	.	.	PUNCT
ajfa-8136	306	1	asian	asian	ADJ
ajfa-8136	306	2	journal	journal	PROPN
ajfa-8136	306	3	of	of	ADP
ajfa-8136	306	4	finance	finance	PROPN
ajfa-8136	306	5	&	&	CCONJ
ajfa-8136	306	6	accounting	accounting	PROPN
ajfa-8136	306	7	issn	issn	PROPN
ajfa-8136	306	8	1946	1946	NUM
ajfa-8136	306	9	-	-	PUNCT
ajfa-8136	306	10	052x	052x	NOUN
ajfa-8136	306	11	2015	2015	NUM
ajfa-8136	306	12	,	,	PUNCT
ajfa-8136	306	13	vol	vol	NOUN
ajfa-8136	306	14	.	.	PROPN
ajfa-8136	306	15	7	7	NUM
ajfa-8136	306	16	,	,	PUNCT
ajfa-8136	306	17	no	no	INTJ
ajfa-8136	306	18	.	.	NOUN
ajfa-8136	306	19	2	2	NUM
ajfa-8136	306	20	49	49	NUM
ajfa-8136	306	21	acknowledgement	acknowledgement	NOUN
ajfa-8136	306	22	:	:	PUNCT
ajfa-8136	306	23	the	the	DET
ajfa-8136	306	24	authors	author	NOUN
ajfa-8136	306	25	would	would	AUX
ajfa-8136	306	26	like	like	VERB
ajfa-8136	306	27	to	to	PART
ajfa-8136	306	28	thank	thank	VERB
ajfa-8136	306	29	university	university	PROPN
ajfa-8136	306	30	grants	grant	NOUN
ajfa-8136	306	31	commission	commission	PROPN
ajfa-8136	306	32	(	(	PUNCT
ajfa-8136	306	33	ugc	ugc	PROPN
ajfa-8136	306	34	)	)	PUNCT
ajfa-8136	306	35	,	,	PUNCT
ajfa-8136	306	36	india	india	PROPN
ajfa-8136	306	37	.	.	PUNCT
ajfa-8136	307	1	this	this	DET
ajfa-8136	307	2	research	research	NOUN
ajfa-8136	307	3	has	have	AUX
ajfa-8136	307	4	been	be	AUX
ajfa-8136	307	5	supported	support	VERB
ajfa-8136	307	6	by	by	ADP
ajfa-8136	307	7	ugc	ugc	PROPN
ajfa-8136	307	8	through	through	ADP
ajfa-8136	307	9	junior	junior	ADJ
ajfa-8136	307	10	research	research	NOUN
ajfa-8136	307	11	fellowship	fellowship	NOUN
ajfa-8136	307	12	(	(	PUNCT
ajfa-8136	307	13	jrf	jrf	PROPN
ajfa-8136	307	14	)	)	PUNCT
ajfa-8136	307	15	.	.	PUNCT
ajfa-8136	308	1	references	reference	NOUN
ajfa-8136	308	2	acharya	acharya	PROPN
ajfa-8136	308	3	,	,	PUNCT
ajfa-8136	308	4	v.v	v.v	PROPN
ajfa-8136	308	5	.	.	PROPN
ajfa-8136	308	6	and	and	CCONJ
ajfa-8136	308	7	pederson	pederson	PROPN
ajfa-8136	308	8	,	,	PUNCT
ajfa-8136	308	9	l.h	l.h	PROPN
ajfa-8136	308	10	.	.	PROPN
ajfa-8136	309	1	(	(	PUNCT
ajfa-8136	309	2	2005).asset	2005).asset	ADJ
ajfa-8136	309	3	pricing	pricing	NOUN
ajfa-8136	309	4	with	with	ADP
ajfa-8136	309	5	liquidity	liquidity	NOUN
ajfa-8136	309	6	risk.journal	risk.journal	PROPN
ajfa-8136	309	7	of	of	ADP
ajfa-8136	309	8	financial	financial	ADJ
ajfa-8136	309	9	economics	economic	NOUN
ajfa-8136	309	10	,	,	PUNCT
ajfa-8136	309	11	77	77	NUM
ajfa-8136	309	12	,	,	PUNCT
ajfa-8136	309	13	375–410	375–410	NUM
ajfa-8136	309	14	.	.	PUNCT
ajfa-8136	310	1	http://dx.doi.org/10.1016/j.jfineco.2004.06.007	http://dx.doi.org/10.1016/j.jfineco.2004.06.007	PROPN
ajfa-8136	310	2	agarwal	agarwal	PROPN
ajfa-8136	310	3	,	,	PUNCT
ajfa-8136	310	4	p.	p.	NOUN
ajfa-8136	310	5	(	(	PUNCT
ajfa-8136	310	6	2009	2009	NUM
ajfa-8136	310	7	)	)	PUNCT
ajfa-8136	310	8	.	.	PUNCT
ajfa-8136	311	1	institutional	institutional	ADJ
ajfa-8136	311	2	ownership	ownership	NOUN
ajfa-8136	311	3	,	,	PUNCT
ajfa-8136	311	4	liquidity	liquidity	NOUN
ajfa-8136	311	5	and	and	CCONJ
ajfa-8136	311	6	liquidity	liquidity	NOUN
ajfa-8136	311	7	risk	risk	NOUN
ajfa-8136	311	8	.	.	PUNCT
ajfa-8136	312	1	available	available	ADJ
ajfa-8136	312	2	at	at	ADP
ajfa-8136	312	3	:	:	PUNCT
ajfa-8136	312	4	http://ecommons.cornell.edu/bitstream/1813/13840/1/agarwal,%20prasun.pdf	http://ecommons.cornell.edu/bitstream/1813/13840/1/agarwal,%20prasun.pdf	PROPN
ajfa-8136	312	5	.	.	PUNCT
ajfa-8136	313	1	amihud	amihud	PROPN
ajfa-8136	313	2	,	,	PUNCT
ajfa-8136	313	3	y.	y.	PROPN
ajfa-8136	313	4	and	and	CCONJ
ajfa-8136	313	5	mendelson	mendelson	PROPN
ajfa-8136	313	6	,	,	PUNCT
ajfa-8136	313	7	h.	h.	PROPN
ajfa-8136	313	8	(	(	PUNCT
ajfa-8136	313	9	1986	1986	NUM
ajfa-8136	313	10	)	)	PUNCT
ajfa-8136	313	11	.	.	PUNCT
ajfa-8136	314	1	asset	asset	NOUN
ajfa-8136	314	2	pricing	pricing	NOUN
ajfa-8136	314	3	and	and	CCONJ
ajfa-8136	314	4	the	the	DET
ajfa-8136	314	5	bid	bid	NOUN
ajfa-8136	314	6	-	-	PUNCT
ajfa-8136	314	7	ask	ask	NOUN
ajfa-8136	314	8	spread	spread	NOUN
ajfa-8136	314	9	.	.	PUNCT
ajfa-8136	315	1	journal	journal	NOUN
ajfa-8136	315	2	of	of	ADP
ajfa-8136	315	3	financial	financial	ADJ
ajfa-8136	315	4	economics	economic	NOUN
ajfa-8136	315	5	,	,	PUNCT
ajfa-8136	315	6	17	17	NUM
ajfa-8136	315	7	,	,	PUNCT
ajfa-8136	315	8	223–249	223–249	NUM
ajfa-8136	315	9	.	.	PUNCT
ajfa-8136	316	1	http://dx.doi.org/10.1016/0304-405x(86)90065-6	http://dx.doi.org/10.1016/0304-405x(86)90065-6	PROPN
ajfa-8136	316	2	amihud	amihud	ADV
ajfa-8136	316	3	,	,	PUNCT
ajfa-8136	316	4	y.	y.	PROPN
ajfa-8136	316	5	and	and	CCONJ
ajfa-8136	316	6	mendelson	mendelson	PROPN
ajfa-8136	316	7	,	,	PUNCT
ajfa-8136	316	8	h.	h.	PROPN
ajfa-8136	316	9	(	(	PUNCT
ajfa-8136	316	10	1980	1980	NUM
ajfa-8136	316	11	)	)	PUNCT
ajfa-8136	316	12	.	.	PUNCT
ajfa-8136	317	1	dealership	dealership	NOUN
ajfa-8136	317	2	market	market	NOUN
ajfa-8136	317	3	:	:	PUNCT
ajfa-8136	317	4	market	market	NOUN
ajfa-8136	317	5	making	making	NOUN
ajfa-8136	317	6	with	with	ADP
ajfa-8136	317	7	inventory	inventory	NOUN
ajfa-8136	317	8	.	.	PUNCT
ajfa-8136	318	1	journal	journal	PROPN
ajfa-8136	318	2	of	of	ADP
ajfa-8136	318	3	financial	financial	ADJ
ajfa-8136	318	4	economics	economic	NOUN
ajfa-8136	318	5	,	,	PUNCT
ajfa-8136	318	6	8	8	NUM
ajfa-8136	318	7	,	,	PUNCT
ajfa-8136	318	8	31	31	NUM
ajfa-8136	318	9	-	-	SYM
ajfa-8136	318	10	53	53	NUM
ajfa-8136	318	11	.	.	PUNCT
ajfa-8136	319	1	http://dx.doi.org/10.1016/0304-405x(80)90020-3	http://dx.doi.org/10.1016/0304-405x(80)90020-3	PROPN
ajfa-8136	319	2	amihud	amihud	PROPN
ajfa-8136	319	3	,	,	PUNCT
ajfa-8136	319	4	y.	y.	PROPN
ajfa-8136	319	5	and	and	CCONJ
ajfa-8136	319	6	mendelson	mendelson	PROPN
ajfa-8136	319	7	,	,	PUNCT
ajfa-8136	319	8	h.	h.	PROPN
ajfa-8136	319	9	(	(	PUNCT
ajfa-8136	319	10	1991).liquidity	1991).liquidity	NUM
ajfa-8136	319	11	,	,	PUNCT
ajfa-8136	319	12	asset	asset	NOUN
ajfa-8136	319	13	prices	price	NOUN
ajfa-8136	319	14	and	and	CCONJ
ajfa-8136	319	15	financial	financial	ADJ
ajfa-8136	319	16	policy	policy	NOUN
ajfa-8136	319	17	.	.	PUNCT
ajfa-8136	320	1	financial	financial	ADJ
ajfa-8136	320	2	analysts	analyst	NOUN
ajfa-8136	320	3	journal	journal	NOUN
ajfa-8136	320	4	,	,	PUNCT
ajfa-8136	320	5	47(6	47(6	NUM
ajfa-8136	320	6	)	)	PUNCT
ajfa-8136	320	7	,	,	PUNCT
ajfa-8136	320	8	55	55	NUM
ajfa-8136	320	9	-	-	SYM
ajfa-8136	320	10	66	66	NUM
ajfa-8136	320	11	url	url	NOUN
ajfa-8136	320	12	:	:	PUNCT
ajfa-8136	320	13	http://www.jstor.org/stable/4479488	http://www.jstor.org/stable/4479488	PROPN
ajfa-8136	320	14	amihud	amihud	PROPN
ajfa-8136	320	15	,	,	PUNCT
ajfa-8136	320	16	y.	y.	PROPN
ajfa-8136	320	17	(	(	PUNCT
ajfa-8136	320	18	2002	2002	NUM
ajfa-8136	320	19	)	)	PUNCT
ajfa-8136	320	20	.	.	PUNCT
ajfa-8136	321	1	illiquidity	illiquidity	NOUN
ajfa-8136	321	2	and	and	CCONJ
ajfa-8136	321	3	stock	stock	NOUN
ajfa-8136	321	4	returns	return	NOUN
ajfa-8136	321	5	:	:	PUNCT
ajfa-8136	321	6	cross	cross	NOUN
ajfa-8136	321	7	section	section	NOUN
ajfa-8136	321	8	and	and	CCONJ
ajfa-8136	321	9	time	time	NOUN
ajfa-8136	321	10	-	-	PUNCT
ajfa-8136	321	11	series	series	NOUN
ajfa-8136	321	12	effects	effect	NOUN
ajfa-8136	321	13	.	.	PUNCT
ajfa-8136	322	1	journal	journal	NOUN
ajfa-8136	322	2	of	of	ADP
ajfa-8136	322	3	financial	financial	ADJ
ajfa-8136	322	4	markets	market	NOUN
ajfa-8136	322	5	,	,	PUNCT
ajfa-8136	322	6	5(1	5(1	NUM
ajfa-8136	322	7	)	)	PUNCT
ajfa-8136	322	8	,	,	PUNCT
ajfa-8136	322	9	31	31	NUM
ajfa-8136	322	10	-	-	SYM
ajfa-8136	322	11	56	56	NUM
ajfa-8136	322	12	.	.	PUNCT
ajfa-8136	323	1	http://dx.doi.org/doi:10.1016/s1386-4181(01)00024-6	http://dx.doi.org/doi:10.1016/s1386-4181(01)00024-6	PROPN
ajfa-8136	323	2	anderson	anderson	PROPN
ajfa-8136	323	3	,	,	PUNCT
ajfa-8136	323	4	r.g	r.g	PROPN
ajfa-8136	323	5	.	.	PROPN
ajfa-8136	323	6	,	,	PUNCT
ajfa-8136	323	7	binner	binner	NOUN
ajfa-8136	323	8	,	,	PUNCT
ajfa-8136	323	9	j.m	j.m	PROPN
ajfa-8136	323	10	.	.	PROPN
ajfa-8136	323	11	,	,	PUNCT
ajfa-8136	323	12	hagstr	hagstr	PROPN
ajfa-8136	323	13	mer	mer	PROPN
ajfa-8136	323	14	,	,	PUNCT
ajfa-8136	323	15	b.	b.	PROPN
ajfa-8136	323	16	and	and	CCONJ
ajfa-8136	323	17	nilsson	nilsson	PROPN
ajfa-8136	323	18	,	,	PUNCT
ajfa-8136	323	19	b.	b.	PROPN
ajfa-8136	323	20	(	(	PUNCT
ajfa-8136	323	21	2013	2013	NUM
ajfa-8136	323	22	)	)	PUNCT
ajfa-8136	323	23	.	.	PUNCT
ajfa-8136	324	1	does	do	VERB
ajfa-8136	324	2	commonality	commonality	NOUN
ajfa-8136	324	3	in	in	ADP
ajfa-8136	324	4	illiquidity	illiquidity	NOUN
ajfa-8136	324	5	matter	matter	NOUN
ajfa-8136	324	6	to	to	ADP
ajfa-8136	324	7	investors	investor	NOUN
ajfa-8136	324	8	?	?	PUNCT
ajfa-8136	324	9	,	,	PUNCT
ajfa-8136	324	10	federal	federal	PROPN
ajfa-8136	324	11	reserve	reserve	PROPN
ajfa-8136	324	12	bank	bank	PROPN
ajfa-8136	324	13	of	of	ADP
ajfa-8136	324	14	st	st	PROPN
ajfa-8136	324	15	.	.	PROPN
ajfa-8136	324	16	louis	louis	PROPN
ajfa-8136	324	17	working	working	PROPN
ajfa-8136	324	18	paper	paper	NOUN
ajfa-8136	324	19	series	series	NOUN
ajfa-8136	324	20	,	,	PUNCT
ajfa-8136	324	21	2013	2013	NUM
ajfa-8136	324	22	-	-	PUNCT
ajfa-8136	324	23	020a	020a	NOUN
ajfa-8136	324	24	.	.	PUNCT
ajfa-8136	325	1	baber	baber	PROPN
ajfa-8136	325	2	,	,	PUNCT
ajfa-8136	325	3	a.	a.	PROPN
ajfa-8136	325	4	,	,	PUNCT
ajfa-8136	325	5	brandt	brandt	PROPN
ajfa-8136	325	6	,	,	PUNCT
ajfa-8136	325	7	m.w	m.w	PROPN
ajfa-8136	325	8	.	.	PROPN
ajfa-8136	325	9	,	,	PUNCT
ajfa-8136	325	10	cosemans	coseman	NOUN
ajfa-8136	325	11	,	,	PUNCT
ajfa-8136	325	12	m.	m.	NOUN
ajfa-8136	325	13	and	and	CCONJ
ajfa-8136	325	14	verardo	verardo	NOUN
ajfa-8136	325	15	,	,	PUNCT
ajfa-8136	325	16	m.	m.	NOUN
ajfa-8136	325	17	(	(	PUNCT
ajfa-8136	325	18	2012	2012	NUM
ajfa-8136	325	19	)	)	PUNCT
ajfa-8136	325	20	.	.	PUNCT
ajfa-8136	326	1	ownership	ownership	NOUN
ajfa-8136	326	2	crowded	crowd	VERB
ajfa-8136	326	3	with	with	ADP
ajfa-8136	326	4	style	style	NOUN
ajfa-8136	326	5	:	:	PUNCT
ajfa-8136	326	6	institutional	institutional	ADJ
ajfa-8136	326	7	investors	investor	NOUN
ajfa-8136	326	8	,	,	PUNCT
ajfa-8136	326	9	liquidity	liquidity	NOUN
ajfa-8136	326	10	,	,	PUNCT
ajfa-8136	326	11	and	and	CCONJ
ajfa-8136	326	12	liquidity	liquidity	NOUN
ajfa-8136	326	13	risk	risk	NOUN
ajfa-8136	326	14	.	.	PUNCT
ajfa-8136	327	1	available	available	ADJ
ajfa-8136	327	2	at	at	ADP
ajfa-8136	327	3	:	:	PUNCT
ajfa-8136	327	4	https://faculty.fuqua.duke.edu/~mbrandt/papers/working/ownership.pdf	https://faculty.fuqua.duke.edu/~mbrandt/papers/working/ownership.pdf	ADJ
ajfa-8136	327	5	.	.	PUNCT
ajfa-8136	328	1	baker	baker	PROPN
ajfa-8136	328	2	,	,	PUNCT
ajfa-8136	328	3	k.	k.	PROPN
ajfa-8136	328	4	(	(	PUNCT
ajfa-8136	328	5	1996	1996	NUM
ajfa-8136	328	6	)	)	PUNCT
ajfa-8136	328	7	.	.	PUNCT
ajfa-8136	329	1	trading	trading	NOUN
ajfa-8136	329	2	location	location	NOUN
ajfa-8136	329	3	and	and	CCONJ
ajfa-8136	329	4	liquidityan	liquidityan	VERB
ajfa-8136	329	5	analysis	analysis	NOUN
ajfa-8136	329	6	of	of	ADP
ajfa-8136	329	7	us	us	PROPN
ajfa-8136	329	8	dealer	dealer	NOUN
ajfa-8136	329	9	and	and	CCONJ
ajfa-8136	329	10	agency	agency	NOUN
ajfa-8136	329	11	markets	market	NOUN
ajfa-8136	329	12	for	for	ADP
ajfa-8136	329	13	common	common	ADJ
ajfa-8136	329	14	stocks	stock	NOUN
ajfa-8136	329	15	.	.	PUNCT
ajfa-8136	330	1	financial	financial	ADJ
ajfa-8136	330	2	markets	market	NOUN
ajfa-8136	330	3	,	,	PUNCT
ajfa-8136	330	4	institutions	institution	NOUN
ajfa-8136	330	5	and	and	CCONJ
ajfa-8136	330	6	instruments	instrument	NOUN
ajfa-8136	330	7	,	,	PUNCT
ajfa-8136	330	8	5(4	5(4	NUM
ajfa-8136	330	9	)	)	PUNCT
ajfa-8136	330	10	.	.	PUNCT
ajfa-8136	331	1	bekaert	bekaert	PROPN
ajfa-8136	331	2	,	,	PUNCT
ajfa-8136	331	3	g.	g.	PROPN
ajfa-8136	331	4	;	;	PUNCT
ajfa-8136	331	5	harvey	harvey	PROPN
ajfa-8136	331	6	,	,	PUNCT
ajfa-8136	331	7	c.	c.	PROPN
ajfa-8136	331	8	r.	r.	PROPN
ajfa-8136	331	9	and	and	CCONJ
ajfa-8136	331	10	lundblad	lundblad	NOUN
ajfa-8136	331	11	,	,	PUNCT
ajfa-8136	331	12	c.	c.	PROPN
ajfa-8136	331	13	t.	t.	PROPN
ajfa-8136	331	14	(	(	PUNCT
ajfa-8136	331	15	2007	2007	NUM
ajfa-8136	331	16	)	)	PUNCT
ajfa-8136	331	17	.	.	PUNCT
ajfa-8136	332	1	liquidity	liquidity	NOUN
ajfa-8136	332	2	and	and	CCONJ
ajfa-8136	332	3	expected	expect	VERB
ajfa-8136	332	4	returns	return	NOUN
ajfa-8136	332	5	:	:	PUNCT
ajfa-8136	332	6	lessons	lesson	NOUN
ajfa-8136	332	7	from	from	ADP
ajfa-8136	332	8	emerging	emerge	VERB
ajfa-8136	332	9	markets	market	NOUN
ajfa-8136	332	10	.	.	PUNCT
ajfa-8136	333	1	the	the	DET
ajfa-8136	333	2	review	review	NOUN
ajfa-8136	333	3	of	of	ADP
ajfa-8136	333	4	financial	financial	ADJ
ajfa-8136	333	5	studies	study	NOUN
ajfa-8136	333	6	,	,	PUNCT
ajfa-8136	333	7	20(6	20(6	NOUN
ajfa-8136	333	8	)	)	PUNCT
ajfa-8136	333	9	,	,	PUNCT
ajfa-8136	333	10	1783	1783	NUM
ajfa-8136	333	11	-	-	SYM
ajfa-8136	333	12	1831	1831	NUM
ajfa-8136	333	13	.	.	PUNCT
ajfa-8136	334	1	bali	bali	PROPN
ajfa-8136	334	2	,	,	PUNCT
ajfa-8136	334	3	t.	t.	PROPN
ajfa-8136	334	4	g.	g.	PROPN
ajfa-8136	334	5	,	,	PUNCT
ajfa-8136	334	6	peng	peng	PROPN
ajfa-8136	334	7	,	,	PUNCT
ajfa-8136	334	8	l.	l.	PROPN
ajfa-8136	334	9	,	,	PUNCT
ajfa-8136	334	10	shen	shen	PROPN
ajfa-8136	334	11	,	,	PUNCT
ajfa-8136	334	12	y	y	PROPN
ajfa-8136	334	13	and	and	CCONJ
ajfa-8136	334	14	tang	tang	PROPN
ajfa-8136	334	15	,	,	PUNCT
ajfa-8136	334	16	y.	y.	PROPN
ajfa-8136	334	17	(	(	PUNCT
ajfa-8136	334	18	2013	2013	NUM
ajfa-8136	334	19	)	)	PUNCT
ajfa-8136	334	20	.	.	PUNCT
ajfa-8136	335	1	liquidity	liquidity	NOUN
ajfa-8136	335	2	shocks	shock	NOUN
ajfa-8136	335	3	and	and	CCONJ
ajfa-8136	335	4	stock	stock	NOUN
ajfa-8136	335	5	market	market	NOUN
ajfa-8136	335	6	reactions.the	reactions.the	DET
ajfa-8136	335	7	review	review	NOUN
ajfa-8136	335	8	of	of	ADP
ajfa-8136	335	9	financial	financial	ADJ
ajfa-8136	335	10	studies	study	NOUN
ajfa-8136	335	11	,	,	PUNCT
ajfa-8136	335	12	27(5	27(5	PROPN
ajfa-8136	335	13	)	)	PUNCT
ajfa-8136	335	14	,	,	PUNCT
ajfa-8136	335	15	1434	1434	NUM
ajfa-8136	335	16	-	-	SYM
ajfa-8136	335	17	1485	1485	NUM
ajfa-8136	335	18	.	.	PUNCT
ajfa-8136	336	1	http://dx.doi.org/10.1093/rfs/hht074	http://dx.doi.org/10.1093/rfs/hht074	PROPN
ajfa-8136	336	2	benić	benić	ADJ
ajfa-8136	336	3	,	,	PUNCT
ajfa-8136	336	4	v.	v.	CCONJ
ajfa-8136	336	5	and	and	CCONJ
ajfa-8136	336	6	franić	franić	ADJ
ajfa-8136	336	7	i.	i.	NOUN
ajfa-8136	336	8	(	(	PUNCT
ajfa-8136	336	9	2008	2008	NUM
ajfa-8136	336	10	)	)	PUNCT
ajfa-8136	336	11	.	.	PUNCT
ajfa-8136	337	1	stock	stock	NOUN
ajfa-8136	337	2	market	market	NOUN
ajfa-8136	337	3	liquidity	liquidity	NOUN
ajfa-8136	337	4	:	:	PUNCT
ajfa-8136	337	5	comparative	comparative	ADJ
ajfa-8136	337	6	analysis	analysis	NOUN
ajfa-8136	337	7	of	of	ADP
ajfa-8136	337	8	croatian	croatian	ADJ
ajfa-8136	337	9	and	and	CCONJ
ajfa-8136	337	10	regional	regional	ADJ
ajfa-8136	337	11	markets	market	NOUN
ajfa-8136	337	12	.	.	PUNCT
ajfa-8136	338	1	financial	financial	ADJ
ajfa-8136	338	2	theory	theory	NOUN
ajfa-8136	338	3	and	and	CCONJ
ajfa-8136	338	4	practice	practice	NOUN
ajfa-8136	338	5	,	,	PUNCT
ajfa-8136	338	6	32(4	32(4	NUM
ajfa-8136	338	7	)	)	PUNCT
ajfa-8136	338	8	,	,	PUNCT
ajfa-8136	338	9	477	477	NUM
ajfa-8136	338	10	-	-	SYM
ajfa-8136	338	11	498	498	NUM
ajfa-8136	338	12	.	.	PUNCT
ajfa-8136	339	1	bernstein	bernstein	PROPN
ajfa-8136	339	2	,	,	PUNCT
ajfa-8136	339	3	p.l	p.l	PROPN
ajfa-8136	339	4	.	.	PROPN
ajfa-8136	339	5	(	(	PUNCT
ajfa-8136	339	6	1987	1987	NUM
ajfa-8136	339	7	)	)	PUNCT
ajfa-8136	339	8	.	.	PUNCT
ajfa-8136	340	1	liquidity	liquidity	NOUN
ajfa-8136	340	2	,	,	PUNCT
ajfa-8136	340	3	stock	stock	NOUN
ajfa-8136	340	4	markets	market	NOUN
ajfa-8136	340	5	,	,	PUNCT
ajfa-8136	340	6	and	and	CCONJ
ajfa-8136	340	7	market	market	NOUN
ajfa-8136	340	8	makers	maker	NOUN
ajfa-8136	340	9	.	.	PUNCT
ajfa-8136	341	1	financial	financial	ADJ
ajfa-8136	341	2	management	management	NOUN
ajfa-8136	341	3	,	,	PUNCT
ajfa-8136	341	4	16(2	16(2	NUM
ajfa-8136	341	5	)	)	PUNCT
ajfa-8136	341	6	,	,	PUNCT
ajfa-8136	341	7	54	54	NUM
ajfa-8136	341	8	-	-	SYM
ajfa-8136	341	9	62	62	NUM
ajfa-8136	341	10	.	.	PUNCT
ajfa-8136	342	1	http://dx.doi.org/10.2307/3666004	http://dx.doi.org/10.2307/3666004	PROPN
ajfa-8136	342	2	black	black	PROPN
ajfa-8136	342	3	,	,	PUNCT
ajfa-8136	342	4	f.	f.	PROPN
ajfa-8136	342	5	(	(	PUNCT
ajfa-8136	343	1	1971).towards	1971).towards	NUM
ajfa-8136	343	2	a	a	DET
ajfa-8136	343	3	fully	fully	ADV
ajfa-8136	343	4	automated	automate	VERB
ajfa-8136	343	5	exchange	exchange	NOUN
ajfa-8136	343	6	.	.	PUNCT
ajfa-8136	344	1	financial	financial	ADJ
ajfa-8136	344	2	analysts	analyst	NOUN
ajfa-8136	344	3	journal	journal	NOUN
ajfa-8136	344	4	,	,	PUNCT
ajfa-8136	344	5	27	27	NUM
ajfa-8136	344	6	,	,	PUNCT
ajfa-8136	344	7	28	28	NUM
ajfa-8136	344	8	-	-	SYM
ajfa-8136	344	9	35	35	NUM
ajfa-8136	344	10	.	.	PUNCT
ajfa-8136	345	1	http://dx.doi.org/10.2469/faj.v27.n4.28	http://dx.doi.org/10.2469/faj.v27.n4.28	PROPN
ajfa-8136	345	2	asian	asian	ADJ
ajfa-8136	345	3	journal	journal	NOUN
ajfa-8136	345	4	of	of	ADP
ajfa-8136	345	5	finance	finance	PROPN
ajfa-8136	345	6	&	&	CCONJ
ajfa-8136	345	7	accounting	accounting	PROPN
ajfa-8136	345	8	issn	issn	PROPN
ajfa-8136	345	9	1946	1946	NUM
ajfa-8136	345	10	-	-	PUNCT
ajfa-8136	345	11	052x	052x	NOUN
ajfa-8136	345	12	2015	2015	NUM
ajfa-8136	345	13	,	,	PUNCT
ajfa-8136	345	14	vol	vol	NOUN
ajfa-8136	345	15	.	.	PROPN
ajfa-8136	345	16	7	7	NUM
ajfa-8136	345	17	,	,	PUNCT
ajfa-8136	345	18	no	no	INTJ
ajfa-8136	345	19	.	.	NOUN
ajfa-8136	345	20	2	2	NUM
ajfa-8136	345	21	50	50	NUM
ajfa-8136	345	22	brockman	brockman	NOUN
ajfa-8136	345	23	,	,	PUNCT
ajfa-8136	345	24	p.	p.	PROPN
ajfa-8136	345	25	,	,	PUNCT
ajfa-8136	345	26	howe	howe	PROPN
ajfa-8136	345	27	,	,	PUNCT
ajfa-8136	345	28	j.s	j.s	PROPN
ajfa-8136	345	29	.	.	PROPN
ajfa-8136	345	30	and	and	CCONJ
ajfa-8136	345	31	mortal	mortal	ADJ
ajfa-8136	345	32	,	,	PUNCT
ajfa-8136	345	33	s.	s.	PROPN
ajfa-8136	345	34	(	(	PUNCT
ajfa-8136	345	35	2008	2008	NUM
ajfa-8136	345	36	)	)	PUNCT
ajfa-8136	345	37	.	.	PUNCT
ajfa-8136	346	1	stock	stock	NOUN
ajfa-8136	346	2	market	market	NOUN
ajfa-8136	346	3	liquidity	liquidity	NOUN
ajfa-8136	346	4	and	and	CCONJ
ajfa-8136	346	5	the	the	DET
ajfa-8136	346	6	decision	decision	NOUN
ajfa-8136	346	7	to	to	PART
ajfa-8136	346	8	repurchase	repurchase	VERB
ajfa-8136	346	9	.	.	PUNCT
ajfa-8136	347	1	journal	journal	PROPN
ajfa-8136	347	2	of	of	ADP
ajfa-8136	347	3	corporate	corporate	ADJ
ajfa-8136	347	4	finance	finance	NOUN
ajfa-8136	347	5	,	,	PUNCT
ajfa-8136	347	6	14	14	NUM
ajfa-8136	347	7	,	,	PUNCT
ajfa-8136	347	8	446–459	446–459	NUM
ajfa-8136	347	9	.	.	PUNCT
ajfa-8136	348	1	http://dx.doi.org/10.1016/j.jcorpfin.2008.06.001	http://dx.doi.org/10.1016/j.jcorpfin.2008.06.001	PROPN
ajfa-8136	348	2	bundgaard	bundgaard	PROPN
ajfa-8136	348	3	,	,	PUNCT
ajfa-8136	348	4	k.d	k.d	PROPN
ajfa-8136	348	5	.	.	PROPN
ajfa-8136	348	6	and	and	CCONJ
ajfa-8136	348	7	ahm	ahm	PROPN
ajfa-8136	348	8	,	,	PUNCT
ajfa-8136	348	9	j.	j.	PROPN
ajfa-8136	348	10	(	(	PUNCT
ajfa-8136	348	11	2012	2012	NUM
ajfa-8136	348	12	)	)	PUNCT
ajfa-8136	348	13	.	.	PUNCT
ajfa-8136	349	1	secondary	secondary	ADJ
ajfa-8136	349	2	stock	stock	NOUN
ajfa-8136	349	3	market	market	NOUN
ajfa-8136	349	4	liquidity	liquidity	NOUN
ajfa-8136	349	5	and	and	CCONJ
ajfa-8136	349	6	the	the	DET
ajfa-8136	349	7	cost	cost	NOUN
ajfa-8136	349	8	of	of	ADP
ajfa-8136	349	9	issuing	issue	VERB
ajfa-8136	349	10	seasoned	season	VERB
ajfa-8136	349	11	equity	equity	NOUN
ajfa-8136	349	12	–	–	PUNCT
ajfa-8136	349	13	european	european	ADJ
ajfa-8136	349	14	evidence	evidence	NOUN
ajfa-8136	349	15	,	,	PUNCT
ajfa-8136	349	16	master	master	NOUN
ajfa-8136	349	17	’s	’s	PART
ajfa-8136	349	18	thesis	thesis	NOUN
ajfa-8136	349	19	,	,	PUNCT
ajfa-8136	349	20	department	department	NOUN
ajfa-8136	349	21	of	of	ADP
ajfa-8136	349	22	finance	finance	NOUN
ajfa-8136	349	23	,	,	PUNCT
ajfa-8136	349	24	handelshøjskolenkøbenhavn	handelshøjskolenkøbenhavn	VERB
ajfa-8136	349	25	copenhagen	copenhagen	PROPN
ajfa-8136	349	26	business	business	PROPN
ajfa-8136	349	27	school	school	PROPN
ajfa-8136	349	28	.	.	PUNCT
ajfa-8136	350	1	available	available	ADJ
ajfa-8136	350	2	at	at	ADP
ajfa-8136	350	3	:	:	PUNCT
ajfa-8136	350	4	http://studenttheses.cbs.dk/handle/10417/3217	http://studenttheses.cbs.dk/handle/10417/3217	ADJ
ajfa-8136	350	5	carhart	carhart	NOUN
ajfa-8136	350	6	m.	m.	NOUN
ajfa-8136	350	7	(	(	PUNCT
ajfa-8136	350	8	1997	1997	NUM
ajfa-8136	350	9	)	)	PUNCT
ajfa-8136	350	10	.	.	PUNCT
ajfa-8136	351	1	on	on	ADP
ajfa-8136	351	2	persistence	persistence	NOUN
ajfa-8136	351	3	in	in	ADP
ajfa-8136	351	4	mutual	mutual	ADJ
ajfa-8136	351	5	fund	fund	NOUN
ajfa-8136	351	6	performance	performance	NOUN
ajfa-8136	351	7	,	,	PUNCT
ajfa-8136	351	8	journal	journal	NOUN
ajfa-8136	351	9	of	of	ADP
ajfa-8136	351	10	finance	finance	NOUN
ajfa-8136	351	11	,	,	PUNCT
ajfa-8136	351	12	52	52	NUM
ajfa-8136	351	13	,	,	PUNCT
ajfa-8136	351	14	57–82	57–82	NUM
ajfa-8136	351	15	.	.	PUNCT
ajfa-8136	351	16	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	http://dx.doi.org/10.1111/j.1540-6261.1997.tb03808.x	PROPN
ajfa-8136	351	17	chang	chang	PROPN
ajfa-8136	351	18	,	,	PUNCT
ajfa-8136	351	19	y.y	y.y	PROPN
ajfa-8136	351	20	.	.	PROPN
ajfa-8136	351	21	,	,	PUNCT
ajfa-8136	351	22	faff	faff	PROPN
ajfa-8136	351	23	,	,	PUNCT
ajfa-8136	351	24	r.	r.	PROPN
ajfa-8136	351	25	and	and	CCONJ
ajfa-8136	351	26	hawang	hawang	PROPN
ajfa-8136	351	27	c.y	c.y	PROPN
ajfa-8136	351	28	.	.	PROPN
ajfa-8136	351	29	(	(	PUNCT
ajfa-8136	351	30	2009	2009	NUM
ajfa-8136	351	31	)	)	PUNCT
ajfa-8136	351	32	.	.	PUNCT
ajfa-8136	352	1	liquidity	liquidity	NOUN
ajfa-8136	352	2	and	and	CCONJ
ajfa-8136	352	3	stock	stock	NOUN
ajfa-8136	352	4	returns	return	NOUN
ajfa-8136	352	5	in	in	ADP
ajfa-8136	352	6	japan	japan	PROPN
ajfa-8136	352	7	:	:	PUNCT
ajfa-8136	352	8	new	new	ADJ
ajfa-8136	352	9	evidence	evidence	NOUN
ajfa-8136	352	10	.	.	PUNCT
ajfa-8136	353	1	pacific	pacific	PROPN
ajfa-8136	353	2	basin	basin	PROPN
ajfa-8136	353	3	finance	finance	PROPN
ajfa-8136	353	4	journal	journal	NOUN
ajfa-8136	353	5	,	,	PUNCT
ajfa-8136	353	6	18	18	NUM
ajfa-8136	353	7	,	,	PUNCT
ajfa-8136	353	8	90	90	NUM
ajfa-8136	353	9	-	-	SYM
ajfa-8136	353	10	115	115	NUM
ajfa-8136	353	11	.	.	PUNCT
ajfa-8136	354	1	http://dx.doi.org/10.1016/j.pacfin.2009.09.001	http://dx.doi.org/10.1016/j.pacfin.2009.09.001	PROPN
ajfa-8136	354	2	cherif	cherif	PROPN
ajfa-8136	354	3	,	,	PUNCT
ajfa-8136	354	4	m.	m.	NOUN
ajfa-8136	354	5	and	and	CCONJ
ajfa-8136	354	6	gazdar	gazdar	PROPN
ajfa-8136	354	7	,	,	PUNCT
ajfa-8136	354	8	k.	k.	PROPN
ajfa-8136	354	9	(	(	PUNCT
ajfa-8136	354	10	2010	2010	NUM
ajfa-8136	354	11	)	)	PUNCT
ajfa-8136	354	12	.	.	PUNCT
ajfa-8136	355	1	macroeconomic	macroeconomic	ADJ
ajfa-8136	355	2	and	and	CCONJ
ajfa-8136	355	3	institutional	institutional	ADJ
ajfa-8136	355	4	determinants	determinant	NOUN
ajfa-8136	355	5	of	of	ADP
ajfa-8136	355	6	stock	stock	NOUN
ajfa-8136	355	7	market	market	NOUN
ajfa-8136	355	8	development	development	NOUN
ajfa-8136	355	9	in	in	ADP
ajfa-8136	355	10	mena	mena	PROPN
ajfa-8136	355	11	region	region	PROPN
ajfa-8136	355	12	:	:	PUNCT
ajfa-8136	355	13	new	new	ADJ
ajfa-8136	355	14	results	result	NOUN
ajfa-8136	355	15	from	from	ADP
ajfa-8136	355	16	a	a	DET
ajfa-8136	355	17	panel	panel	NOUN
ajfa-8136	355	18	data	datum	NOUN
ajfa-8136	355	19	analysis	analysis	NOUN
ajfa-8136	355	20	.	.	PUNCT
ajfa-8136	356	1	international	international	ADJ
ajfa-8136	356	2	journal	journal	NOUN
ajfa-8136	356	3	of	of	ADP
ajfa-8136	356	4	banking	banking	NOUN
ajfa-8136	356	5	and	and	CCONJ
ajfa-8136	356	6	finance	finance	NOUN
ajfa-8136	356	7	,	,	PUNCT
ajfa-8136	356	8	7(1	7(1	NUM
ajfa-8136	356	9	)	)	PUNCT
ajfa-8136	356	10	,	,	PUNCT
ajfa-8136	356	11	139–159	139–159	NUM
ajfa-8136	356	12	chikore	chikore	NOUN
ajfa-8136	356	13	,	,	PUNCT
ajfa-8136	356	14	r.	r.	PROPN
ajfa-8136	356	15	,	,	PUNCT
ajfa-8136	356	16	nkomo	nkomo	PROPN
ajfa-8136	356	17	,	,	PUNCT
ajfa-8136	356	18	d.	d.	PROPN
ajfa-8136	356	19	,	,	PUNCT
ajfa-8136	356	20	gachira	gachira	PROPN
ajfa-8136	356	21	,	,	PUNCT
ajfa-8136	356	22	w.	w.	PROPN
ajfa-8136	356	23	,	,	PUNCT
ajfa-8136	356	24	chiwanja	chiwanja	PROPN
ajfa-8136	356	25	,	,	PUNCT
ajfa-8136	356	26	w.	w.	PROPN
ajfa-8136	356	27	(	(	PUNCT
ajfa-8136	356	28	2014	2014	NUM
ajfa-8136	356	29	)	)	PUNCT
ajfa-8136	356	30	.	.	PUNCT
ajfa-8136	357	1	stock	stock	NOUN
ajfa-8136	357	2	liquidity	liquidity	NOUN
ajfa-8136	357	3	and	and	CCONJ
ajfa-8136	357	4	returns	return	NOUN
ajfa-8136	357	5	:	:	PUNCT
ajfa-8136	357	6	evidence	evidence	NOUN
ajfa-8136	357	7	from	from	ADP
ajfa-8136	357	8	zimbabwe	zimbabwe	ADJ
ajfa-8136	357	9	stock	stock	PROPN
ajfa-8136	357	10	exchange	exchange	PROPN
ajfa-8136	357	11	.	.	PUNCT
ajfa-8136	358	1	interdisciplinary	interdisciplinary	ADJ
ajfa-8136	358	2	journal	journal	NOUN
ajfa-8136	358	3	of	of	ADP
ajfa-8136	358	4	contemporary	contemporary	ADJ
ajfa-8136	358	5	research	research	NOUN
ajfa-8136	358	6	in	in	ADP
ajfa-8136	358	7	business	business	NOUN
ajfa-8136	358	8	,	,	PUNCT
ajfa-8136	358	9	6(3	6(3	NUM
ajfa-8136	358	10	)	)	PUNCT
ajfa-8136	358	11	.	.	PUNCT
ajfa-8136	359	1	available	available	ADJ
ajfa-8136	359	2	at	at	ADP
ajfa-8136	359	3	:	:	PUNCT
ajfa-8136	359	4	http://euabr.com/ijcrbjul14/20-35jul14.pdf	http://euabr.com/ijcrbjul14/20-35jul14.pdf	NOUN
ajfa-8136	359	5	chordia	chordia	NOUN
ajfa-8136	359	6	,	,	PUNCT
ajfa-8136	359	7	t.	t.	PROPN
ajfa-8136	359	8	,	,	PUNCT
ajfa-8136	359	9	roll	roll	NOUN
ajfa-8136	359	10	,	,	PUNCT
ajfa-8136	359	11	r.	r.	PROPN
ajfa-8136	359	12	and	and	CCONJ
ajfa-8136	359	13	subrahmanyam	subrahmanyam	NOUN
ajfa-8136	359	14	,	,	PUNCT
ajfa-8136	359	15	a.	a.	NOUN
ajfa-8136	359	16	(	(	PUNCT
ajfa-8136	359	17	2000).commonality	2000).commonality	NUM
ajfa-8136	359	18	in	in	ADP
ajfa-8136	359	19	liquidity	liquidity	NOUN
ajfa-8136	359	20	.	.	PUNCT
ajfa-8136	360	1	journal	journal	PROPN
ajfa-8136	360	2	of	of	ADP
ajfa-8136	360	3	financial	financial	ADJ
ajfa-8136	360	4	economics	economic	NOUN
ajfa-8136	360	5	,	,	PUNCT
ajfa-8136	360	6	56	56	NUM
ajfa-8136	360	7	,	,	PUNCT
ajfa-8136	360	8	3–28	3–28	PROPN
ajfa-8136	360	9	.	.	PUNCT
ajfa-8136	361	1	http://dx.doi.org/10.1016/s0304-405x(99)00057-4	http://dx.doi.org/10.1016/s0304-405x(99)00057-4	PROPN
ajfa-8136	361	2	chordia	chordia	PROPN
ajfa-8136	361	3	,	,	PUNCT
ajfa-8136	361	4	t.	t.	PROPN
ajfa-8136	361	5	,	,	PUNCT
ajfa-8136	361	6	roll	roll	NOUN
ajfa-8136	361	7	,	,	PUNCT
ajfa-8136	361	8	r.	r.	PROPN
ajfa-8136	361	9	and	and	CCONJ
ajfa-8136	361	10	subrahmanyam	subrahmanyam	NOUN
ajfa-8136	361	11	,	,	PUNCT
ajfa-8136	361	12	a.	a.	NOUN
ajfa-8136	362	1	(	(	PUNCT
ajfa-8136	362	2	2001).market	2001).market	NUM
ajfa-8136	362	3	liquidity	liquidity	NOUN
ajfa-8136	362	4	and	and	CCONJ
ajfa-8136	362	5	trading	trading	NOUN
ajfa-8136	362	6	activity	activity	NOUN
ajfa-8136	362	7	.	.	PUNCT
ajfa-8136	363	1	journal	journal	PROPN
ajfa-8136	363	2	of	of	ADP
ajfa-8136	363	3	finance	finance	NOUN
ajfa-8136	363	4	,	,	PUNCT
ajfa-8136	363	5	56(2	56(2	ADJ
ajfa-8136	363	6	)	)	PUNCT
ajfa-8136	363	7	,	,	PUNCT
ajfa-8136	363	8	501–530	501–530	NUM
ajfa-8136	363	9	.	.	PUNCT
ajfa-8136	364	1	http://dx.doi.org/10.1111/0022-1082.00335	http://dx.doi.org/10.1111/0022-1082.00335	PROPN
ajfa-8136	364	2	chordia	chordia	NOUN
ajfa-8136	364	3	,	,	PUNCT
ajfa-8136	364	4	t.	t.	PROPN
ajfa-8136	364	5	,	,	PUNCT
ajfa-8136	364	6	roll	roll	NOUN
ajfa-8136	364	7	,	,	PUNCT
ajfa-8136	364	8	r.	r.	PROPN
ajfa-8136	364	9	and	and	CCONJ
ajfa-8136	364	10	subrahmanyam	subrahmanyam	NOUN
ajfa-8136	364	11	,	,	PUNCT
ajfa-8136	364	12	a.	a.	NOUN
ajfa-8136	365	1	(	(	PUNCT
ajfa-8136	365	2	2001).common	2001).common	NUM
ajfa-8136	365	3	determinants	determinant	NOUN
ajfa-8136	365	4	of	of	ADP
ajfa-8136	365	5	liquidity	liquidity	NOUN
ajfa-8136	365	6	and	and	CCONJ
ajfa-8136	365	7	trading	trading	NOUN
ajfa-8136	365	8	.	.	PUNCT
ajfa-8136	366	1	the	the	DET
ajfa-8136	366	2	research	research	NOUN
ajfa-8136	366	3	foundation	foundation	PROPN
ajfa-8136	366	4	of	of	ADP
ajfa-8136	366	5	aimr	aimr	NOUN
ajfa-8136	366	6	(	(	PUNCT
ajfa-8136	366	7	cfa	cfa	PROPN
ajfa-8136	366	8	institute	institute	PROPN
ajfa-8136	366	9	)	)	PUNCT
ajfa-8136	366	10	.	.	PUNCT
ajfa-8136	367	1	chordia	chordia	NOUN
ajfa-8136	367	2	,	,	PUNCT
ajfa-8136	367	3	t.	t.	PROPN
ajfa-8136	367	4	,	,	PUNCT
ajfa-8136	367	5	roll	roll	NOUN
ajfa-8136	367	6	,	,	PUNCT
ajfa-8136	367	7	r.	r.	PROPN
ajfa-8136	367	8	and	and	CCONJ
ajfa-8136	367	9	subrahmanyam	subrahmanyam	NOUN
ajfa-8136	367	10	,	,	PUNCT
ajfa-8136	367	11	a.	a.	NOUN
ajfa-8136	367	12	(	(	PUNCT
ajfa-8136	367	13	2003).determinants	2003).determinants	NUM
ajfa-8136	367	14	of	of	ADP
ajfa-8136	367	15	daily	daily	ADJ
ajfa-8136	367	16	fluctuations	fluctuation	NOUN
ajfa-8136	367	17	in	in	ADP
ajfa-8136	367	18	liquidity	liquidity	NOUN
ajfa-8136	367	19	and	and	CCONJ
ajfa-8136	367	20	trading	trading	NOUN
ajfa-8136	367	21	activity	activity	NOUN
ajfa-8136	367	22	.	.	PUNCT
ajfa-8136	368	1	cuadernos	cuadernos	PROPN
ajfa-8136	368	2	de	de	PROPN
ajfa-8136	368	3	economía	economía	PROPN
ajfa-8136	368	4	,	,	PUNCT
ajfa-8136	368	5	40(120	40(120	ADJ
ajfa-8136	368	6	)	)	PUNCT
ajfa-8136	368	7	,	,	PUNCT
ajfa-8136	368	8	728	728	NUM
ajfa-8136	368	9	-	-	SYM
ajfa-8136	368	10	751	751	NUM
ajfa-8136	368	11	.	.	PUNCT
ajfa-8136	369	1	http://dx.doi.org/10.4067/s0717-68212003012100046	http://dx.doi.org/10.4067/s0717-68212003012100046	NOUN
ajfa-8136	369	2	chordia	chordia	NOUN
ajfa-8136	369	3	,	,	PUNCT
ajfa-8136	369	4	t.	t.	PROPN
ajfa-8136	369	5	,	,	PUNCT
ajfa-8136	369	6	sarkar	sarkar	PROPN
ajfa-8136	369	7	,	,	PUNCT
ajfa-8136	369	8	a.	a.	NOUN
ajfa-8136	369	9	and	and	CCONJ
ajfa-8136	369	10	subrahmanyam	subrahmanyam	NOUN
ajfa-8136	369	11	,	,	PUNCT
ajfa-8136	369	12	a.	a.	NOUN
ajfa-8136	369	13	(	(	PUNCT
ajfa-8136	369	14	2005).the	2005).the	DET
ajfa-8136	369	15	joint	joint	ADJ
ajfa-8136	369	16	dynamics	dynamic	NOUN
ajfa-8136	369	17	of	of	ADP
ajfa-8136	369	18	liquidity	liquidity	NOUN
ajfa-8136	369	19	,	,	PUNCT
ajfa-8136	369	20	returns	return	NOUN
ajfa-8136	369	21	,	,	PUNCT
ajfa-8136	369	22	and	and	CCONJ
ajfa-8136	369	23	volatility	volatility	NOUN
ajfa-8136	369	24	across	across	ADP
ajfa-8136	369	25	small	small	ADJ
ajfa-8136	369	26	and	and	CCONJ
ajfa-8136	369	27	large	large	ADJ
ajfa-8136	369	28	firms.federal	firms.federal	PROPN
ajfa-8136	369	29	reserve	reserve	PROPN
ajfa-8136	369	30	bank	bank	PROPN
ajfa-8136	369	31	of	of	ADP
ajfa-8136	369	32	new	new	PROPN
ajfa-8136	369	33	york	york	PROPN
ajfa-8136	369	34	staff	staff	NOUN
ajfa-8136	369	35	reports	report	VERB
ajfa-8136	369	36	,	,	PUNCT
ajfa-8136	369	37	207	207	NUM
ajfa-8136	369	38	,	,	PUNCT
ajfa-8136	369	39	available	available	ADJ
ajfa-8136	369	40	at	at	ADP
ajfa-8136	369	41	:	:	PUNCT
ajfa-8136	369	42	http://www.newyorkfed.org/research/staff_reports/sr207.pdf	http://www.newyorkfed.org/research/staff_reports/sr207.pdf	PROPN
ajfa-8136	369	43	cooper	cooper	PROPN
ajfa-8136	369	44	,	,	PUNCT
ajfa-8136	369	45	s.k	s.k	PROPN
ajfa-8136	369	46	.	.	PROPN
ajfa-8136	369	47	,	,	PUNCT
ajfa-8136	369	48	groth	groth	PROPN
ajfa-8136	369	49	,	,	PUNCT
ajfa-8136	369	50	j.c	j.c	PROPN
ajfa-8136	369	51	.	.	PROPN
ajfa-8136	369	52	and	and	CCONJ
ajfa-8136	369	53	avera	avera	PROPN
ajfa-8136	369	54	,	,	PUNCT
ajfa-8136	369	55	w.e	w.e	PROPN
ajfa-8136	369	56	.	.	PROPN
ajfa-8136	369	57	(	(	PUNCT
ajfa-8136	369	58	1985).liquidity	1985).liquidity	NOUN
ajfa-8136	369	59	,	,	PUNCT
ajfa-8136	369	60	exchange	exchange	NOUN
ajfa-8136	369	61	listing	listing	NOUN
ajfa-8136	369	62	,	,	PUNCT
ajfa-8136	369	63	and	and	CCONJ
ajfa-8136	369	64	common	common	ADJ
ajfa-8136	369	65	stock	stock	NOUN
ajfa-8136	369	66	performance	performance	NOUN
ajfa-8136	369	67	.	.	PUNCT
ajfa-8136	370	1	journal	journal	PROPN
ajfa-8136	370	2	of	of	ADP
ajfa-8136	370	3	economics	economic	NOUN
ajfa-8136	370	4	and	and	CCONJ
ajfa-8136	370	5	business	business	NOUN
ajfa-8136	370	6	,	,	PUNCT
ajfa-8136	370	7	february	february	PROPN
ajfa-8136	370	8	,	,	PUNCT
ajfa-8136	370	9	21	21	NUM
ajfa-8136	370	10	-	-	SYM
ajfa-8136	370	11	33	33	NUM
ajfa-8136	370	12	coughenour	coughenour	NOUN
ajfa-8136	370	13	,	,	PUNCT
ajfa-8136	370	14	j.f	j.f	PROPN
ajfa-8136	370	15	.	.	PROPN
ajfa-8136	370	16	and	and	CCONJ
ajfa-8136	370	17	saad	saad	PROPN
ajfa-8136	370	18	,	,	PUNCT
ajfa-8136	370	19	m.m	m.m	PROPN
ajfa-8136	370	20	.	.	PROPN
ajfa-8136	370	21	(	(	PUNCT
ajfa-8136	370	22	2004	2004	NUM
ajfa-8136	370	23	)	)	PUNCT
ajfa-8136	370	24	.	.	PUNCT
ajfa-8136	371	1	common	common	ADJ
ajfa-8136	371	2	market	market	NOUN
ajfa-8136	371	3	makers	maker	NOUN
ajfa-8136	371	4	and	and	CCONJ
ajfa-8136	371	5	commonality	commonality	NOUN
ajfa-8136	371	6	in	in	ADP
ajfa-8136	371	7	liquidity	liquidity	NOUN
ajfa-8136	371	8	.	.	PUNCT
ajfa-8136	372	1	journal	journal	PROPN
ajfa-8136	372	2	of	of	ADP
ajfa-8136	372	3	financial	financial	ADJ
ajfa-8136	372	4	economics	economic	NOUN
ajfa-8136	372	5	,	,	PUNCT
ajfa-8136	372	6	73	73	NUM
ajfa-8136	372	7	,	,	PUNCT
ajfa-8136	372	8	37–69.http://dx.doi.org/10.1016	37–69.http://dx.doi.org/10.1016	NUM
ajfa-8136	372	9	/	/	SYM
ajfa-8136	372	10	j.jfineco.2003.05.006	j.jfineco.2003.05.006	PROPN
ajfa-8136	372	11	datar	datar	PROPN
ajfa-8136	372	12	,	,	PUNCT
ajfa-8136	372	13	m.k	m.k	PROPN
ajfa-8136	372	14	.	.	PUNCT
ajfa-8136	372	15	(	(	PUNCT
ajfa-8136	372	16	2000	2000	NUM
ajfa-8136	372	17	)	)	PUNCT
ajfa-8136	372	18	.	.	PUNCT
ajfa-8136	373	1	stock	stock	NOUN
ajfa-8136	373	2	market	market	NOUN
ajfa-8136	373	3	liquidity	liquidity	NOUN
ajfa-8136	373	4	:	:	PUNCT
ajfa-8136	373	5	measurement	measurement	NOUN
ajfa-8136	373	6	and	and	CCONJ
ajfa-8136	373	7	implications	implication	NOUN
ajfa-8136	373	8	.	.	PUNCT
ajfa-8136	374	1	fourth	fourth	ADJ
ajfa-8136	374	2	capital	capital	NOUN
ajfa-8136	374	3	market	market	NOUN
ajfa-8136	374	4	conference	conference	NOUN
ajfa-8136	374	5	,	,	PUNCT
ajfa-8136	374	6	december	december	PROPN
ajfa-8136	374	7	2000	2000	NUM
ajfa-8136	374	8	asian	asian	ADJ
ajfa-8136	374	9	journal	journal	NOUN
ajfa-8136	374	10	of	of	ADP
ajfa-8136	374	11	finance	finance	PROPN
ajfa-8136	374	12	&	&	CCONJ
ajfa-8136	374	13	accounting	accounting	PROPN
ajfa-8136	374	14	issn	issn	PROPN
ajfa-8136	374	15	1946	1946	NUM
ajfa-8136	374	16	-	-	PUNCT
ajfa-8136	374	17	052x	052x	NOUN
ajfa-8136	374	18	2015	2015	NUM
ajfa-8136	374	19	,	,	PUNCT
ajfa-8136	374	20	vol	vol	NOUN
ajfa-8136	374	21	.	.	PROPN
ajfa-8136	374	22	7	7	NUM
ajfa-8136	374	23	,	,	PUNCT
ajfa-8136	374	24	no	no	INTJ
ajfa-8136	374	25	.	.	NOUN
ajfa-8136	374	26	2	2	NUM
ajfa-8136	374	27	51	51	NUM
ajfa-8136	374	28	ding	ding	NOUN
ajfa-8136	374	29	,	,	PUNCT
ajfa-8136	374	30	m	m	PROPN
ajfa-8136	374	31	,	,	PUNCT
ajfa-8136	374	32	nilsson	nilsson	PROPN
ajfa-8136	374	33	,	,	PUNCT
ajfa-8136	374	34	b.	b.	PROPN
ajfa-8136	374	35	and	and	CCONJ
ajfa-8136	374	36	suardi	suardi	PROPN
ajfa-8136	374	37	,	,	PUNCT
ajfa-8136	374	38	s.	s.	PROPN
ajfa-8136	374	39	(	(	PUNCT
ajfa-8136	374	40	2013	2013	NUM
ajfa-8136	374	41	)	)	PUNCT
ajfa-8136	374	42	.	.	PUNCT
ajfa-8136	375	1	foreign	foreign	ADJ
ajfa-8136	375	2	institutional	institutional	ADJ
ajfa-8136	375	3	investors	investor	NOUN
ajfa-8136	375	4	and	and	CCONJ
ajfa-8136	375	5	stock	stock	NOUN
ajfa-8136	375	6	market	market	NOUN
ajfa-8136	375	7	liquidity	liquidity	NOUN
ajfa-8136	375	8	in	in	ADP
ajfa-8136	375	9	china	china	PROPN
ajfa-8136	375	10	:	:	PUNCT
ajfa-8136	375	11	state	state	NOUN
ajfa-8136	375	12	ownership	ownership	NOUN
ajfa-8136	375	13	,	,	PUNCT
ajfa-8136	375	14	trading	trading	NOUN
ajfa-8136	375	15	activity	activity	NOUN
ajfa-8136	375	16	and	and	CCONJ
ajfa-8136	375	17	information	information	NOUN
ajfa-8136	375	18	asymmetry	asymmetry	NOUN
ajfa-8136	375	19	.	.	PUNCT
ajfa-8136	376	1	knut	knut	PROPN
ajfa-8136	376	2	wicksell	wicksell	PROPN
ajfa-8136	376	3	working	working	PROPN
ajfa-8136	376	4	paper	paper	NOUN
ajfa-8136	376	5	,	,	PUNCT
ajfa-8136	376	6	2013:14	2013:14	NUM
ajfa-8136	376	7	.	.	PUNCT
ajfa-8136	377	1	domowitz	domowitz	PROPN
ajfa-8136	377	2	,	,	PUNCT
ajfa-8136	377	3	i.	i.	PROPN
ajfa-8136	377	4	h.	h.	PROPN
ajfa-8136	377	5	,	,	PUNCT
ajfa-8136	377	6	and	and	CCONJ
ajfa-8136	377	7	x.	x.	PROPN
ajfa-8136	377	8	wang	wang	PROPN
ajfa-8136	377	9	,	,	PUNCT
ajfa-8136	377	10	2002	2002	NUM
ajfa-8136	377	11	,	,	PUNCT
ajfa-8136	377	12	liquidity	liquidity	NOUN
ajfa-8136	377	13	,	,	PUNCT
ajfa-8136	377	14	liquidity	liquidity	NOUN
ajfa-8136	377	15	commonality	commonality	NOUN
ajfa-8136	377	16	and	and	CCONJ
ajfa-8136	377	17	its	its	PRON
ajfa-8136	377	18	impact	impact	NOUN
ajfa-8136	377	19	on	on	ADP
ajfa-8136	377	20	portfolio	portfolio	NOUN
ajfa-8136	377	21	theory	theory	NOUN
ajfa-8136	377	22	,	,	PUNCT
ajfa-8136	377	23	working	working	NOUN
ajfa-8136	377	24	paper	paper	NOUN
ajfa-8136	377	25	.	.	PUNCT
ajfa-8136	378	1	http://dx.doi.org/10.2139/ssrn.296870	http://dx.doi.org/10.2139/ssrn.296870	X
ajfa-8136	378	2	eleswarapu	eleswarapu	PROPN
ajfa-8136	378	3	,	,	PUNCT
ajfa-8136	378	4	v.r	v.r	PROPN
ajfa-8136	378	5	.	.	PROPN
ajfa-8136	378	6	and	and	CCONJ
ajfa-8136	378	7	reinganum	reinganum	PROPN
ajfa-8136	378	8	,	,	PUNCT
ajfa-8136	378	9	m.r	m.r	PROPN
ajfa-8136	378	10	.	.	PROPN
ajfa-8136	378	11	(	(	PUNCT
ajfa-8136	378	12	1993).the	1993).the	DET
ajfa-8136	378	13	seasonal	seasonal	ADJ
ajfa-8136	378	14	behavior	behavior	NOUN
ajfa-8136	378	15	of	of	ADP
ajfa-8136	378	16	liquidity	liquidity	NOUN
ajfa-8136	378	17	premium	premium	NOUN
ajfa-8136	378	18	in	in	ADP
ajfa-8136	378	19	asset	asset	NOUN
ajfa-8136	378	20	pricing	pricing	NOUN
ajfa-8136	378	21	.	.	PUNCT
ajfa-8136	379	1	journal	journal	NOUN
ajfa-8136	379	2	of	of	ADP
ajfa-8136	379	3	financial	financial	ADJ
ajfa-8136	379	4	economics	economic	NOUN
ajfa-8136	379	5	,	,	PUNCT
ajfa-8136	379	6	34	34	NUM
ajfa-8136	379	7	,	,	PUNCT
ajfa-8136	379	8	373	373	NUM
ajfa-8136	379	9	-	-	SYM
ajfa-8136	379	10	386	386	NUM
ajfa-8136	379	11	.	.	PUNCT
ajfa-8136	380	1	http://dx.doi.org/10.1016/0304-405x(93)90032-7	http://dx.doi.org/10.1016/0304-405x(93)90032-7	PROPN
ajfa-8136	380	2	fabre	fabre	PROPN
ajfa-8136	380	3	,	,	PUNCT
ajfa-8136	380	4	j.	j.	PROPN
ajfa-8136	380	5	,	,	PUNCT
ajfa-8136	380	6	frino	frino	PROPN
ajfa-8136	380	7	,	,	PUNCT
ajfa-8136	380	8	a.	a.	NOUN
ajfa-8136	380	9	(	(	PUNCT
ajfa-8136	380	10	2004	2004	NUM
ajfa-8136	380	11	)	)	PUNCT
ajfa-8136	380	12	.	.	PUNCT
ajfa-8136	381	1	commonality	commonality	NOUN
ajfa-8136	381	2	in	in	ADP
ajfa-8136	381	3	liquidity	liquidity	NOUN
ajfa-8136	381	4	:	:	PUNCT
ajfa-8136	381	5	evidence	evidence	NOUN
ajfa-8136	381	6	from	from	ADP
ajfa-8136	381	7	the	the	DET
ajfa-8136	381	8	australian	australian	ADJ
ajfa-8136	381	9	stock	stock	NOUN
ajfa-8136	381	10	exchange	exchange	NOUN
ajfa-8136	381	11	.	.	PUNCT
ajfa-8136	382	1	accounting	accounting	NOUN
ajfa-8136	382	2	and	and	CCONJ
ajfa-8136	382	3	finance	finance	NOUN
ajfa-8136	382	4	,	,	PUNCT
ajfa-8136	382	5	44	44	NUM
ajfa-8136	382	6	,	,	PUNCT
ajfa-8136	382	7	357	357	NUM
ajfa-8136	382	8	-	-	SYM
ajfa-8136	382	9	368	368	NUM
ajfa-8136	382	10	.	.	PUNCT
ajfa-8136	383	1	faff	faff	PROPN
ajfa-8136	383	2	,	,	PUNCT
ajfa-8136	383	3	r.	r.	PROPN
ajfa-8136	383	4	,	,	PUNCT
ajfa-8136	383	5	chai	chai	NOUN
ajfa-8136	383	6	,	,	PUNCT
ajfa-8136	383	7	d.	d.	PROPN
ajfa-8136	383	8	and	and	CCONJ
ajfa-8136	383	9	gharghori	gharghori	PROPN
ajfa-8136	383	10	,	,	PUNCT
ajfa-8136	383	11	p.	p.	NOUN
ajfa-8136	383	12	(	(	PUNCT
ajfa-8136	383	13	2013	2013	NUM
ajfa-8136	383	14	)	)	PUNCT
ajfa-8136	383	15	.	.	PUNCT
ajfa-8136	384	1	liquidity	liquidity	NOUN
ajfa-8136	384	2	in	in	ADP
ajfa-8136	384	3	asset	asset	NOUN
ajfa-8136	384	4	pricing	pricing	NOUN
ajfa-8136	384	5	:	:	PUNCT
ajfa-8136	384	6	new	new	ADJ
ajfa-8136	384	7	australian	australian	ADJ
ajfa-8136	384	8	evidence	evidence	NOUN
ajfa-8136	384	9	using	use	VERB
ajfa-8136	384	10	low	low	ADJ
ajfa-8136	384	11	-	-	PUNCT
ajfa-8136	384	12	frequency	frequency	NOUN
ajfa-8136	384	13	data	datum	NOUN
ajfa-8136	384	14	.	.	PUNCT
ajfa-8136	385	1	australian	australian	ADJ
ajfa-8136	385	2	journal	journal	NOUN
ajfa-8136	385	3	of	of	ADP
ajfa-8136	385	4	management	management	NOUN
ajfa-8136	385	5	,	,	PUNCT
ajfa-8136	385	6	38(2	38(2	NOUN
ajfa-8136	385	7	)	)	PUNCT
ajfa-8136	385	8	,	,	PUNCT
ajfa-8136	385	9	375	375	NUM
ajfa-8136	385	10	-	-	SYM
ajfa-8136	385	11	400	400	NUM
ajfa-8136	385	12	.	.	PUNCT
ajfa-8136	386	1	faff	faff	PROPN
ajfa-8136	386	2	,	,	PUNCT
ajfa-8136	386	3	r.	r.	PROPN
ajfa-8136	386	4	,	,	PUNCT
ajfa-8136	386	5	chang	chang	PROPN
ajfa-8136	386	6	,	,	PUNCT
ajfa-8136	386	7	y.y	y.y	PROPN
ajfa-8136	386	8	.	.	PROPN
ajfa-8136	386	9	,	,	PUNCT
ajfa-8136	386	10	hwang	hwang	PROPN
ajfa-8136	386	11	,	,	PUNCT
ajfa-8136	386	12	c.y	c.y	PROPN
ajfa-8136	386	13	.	.	PROPN
ajfa-8136	386	14	(	(	PUNCT
ajfa-8136	386	15	2010	2010	NUM
ajfa-8136	386	16	)	)	PUNCT
ajfa-8136	386	17	.	.	PUNCT
ajfa-8136	387	1	liquidity	liquidity	NOUN
ajfa-8136	387	2	and	and	CCONJ
ajfa-8136	387	3	stock	stock	NOUN
ajfa-8136	387	4	returns	return	NOUN
ajfa-8136	387	5	in	in	ADP
ajfa-8136	387	6	japan	japan	PROPN
ajfa-8136	387	7	:	:	PUNCT
ajfa-8136	387	8	new	new	ADJ
ajfa-8136	387	9	evidence	evidence	NOUN
ajfa-8136	387	10	,	,	PUNCT
ajfa-8136	387	11	pacific	pacific	ADJ
ajfa-8136	387	12	-	-	PUNCT
ajfa-8136	387	13	basin	basin	NOUN
ajfa-8136	387	14	finance	finance	NOUN
ajfa-8136	387	15	journal	journal	NOUN
ajfa-8136	387	16	,	,	PUNCT
ajfa-8136	387	17	18	18	NUM
ajfa-8136	387	18	,	,	PUNCT
ajfa-8136	387	19	90–115	90–115	PROPN
ajfa-8136	387	20	.	.	PUNCT
ajfa-8136	388	1	http://dx.doi.org/10.1016/j.pacfin.2009.09.001	http://dx.doi.org/10.1016/j.pacfin.2009.09.001	PROPN
ajfa-8136	388	2	fang	fang	PROPN
ajfa-8136	388	3	,	,	PUNCT
ajfa-8136	388	4	v.w	v.w	PROPN
ajfa-8136	388	5	.	.	PROPN
ajfa-8136	388	6	,	,	PUNCT
ajfa-8136	388	7	noe	noe	PROPN
ajfa-8136	388	8	,	,	PUNCT
ajfa-8136	388	9	t.h	t.h	PROPN
ajfa-8136	388	10	.	.	PROPN
ajfa-8136	388	11	,	,	PUNCT
ajfa-8136	388	12	tice	tice	PROPN
ajfa-8136	388	13	,	,	PUNCT
ajfa-8136	388	14	s.	s.	PROPN
ajfa-8136	388	15	(	(	PUNCT
ajfa-8136	388	16	2009	2009	NUM
ajfa-8136	388	17	)	)	PUNCT
ajfa-8136	388	18	.	.	PUNCT
ajfa-8136	389	1	stock	stock	NOUN
ajfa-8136	389	2	market	market	NOUN
ajfa-8136	389	3	liquidity	liquidity	NOUN
ajfa-8136	389	4	and	and	CCONJ
ajfa-8136	389	5	firm	firm	ADJ
ajfa-8136	389	6	value	value	NOUN
ajfa-8136	389	7	.	.	PUNCT
ajfa-8136	390	1	journal	journal	NOUN
ajfa-8136	390	2	of	of	ADP
ajfa-8136	390	3	financial	financial	ADJ
ajfa-8136	390	4	economics	economic	NOUN
ajfa-8136	390	5	,	,	PUNCT
ajfa-8136	390	6	94	94	NUM
ajfa-8136	390	7	,	,	PUNCT
ajfa-8136	390	8	150–169	150–169	NUM
ajfa-8136	390	9	.	.	PUNCT
ajfa-8136	391	1	http://dx.doi/10.1016/j.jfineco.2008.08.007	http://dx.doi/10.1016/j.jfineco.2008.08.007	PROPN
ajfa-8136	391	2	fu	fu	PROPN
ajfa-8136	391	3	,	,	PUNCT
ajfa-8136	391	4	f.	f.	PROPN
ajfa-8136	391	5	(	(	PUNCT
ajfa-8136	391	6	2012).liquidity	2012).liquidity	NUM
ajfa-8136	391	7	variation	variation	NOUN
ajfa-8136	391	8	and	and	CCONJ
ajfa-8136	391	9	the	the	DET
ajfa-8136	391	10	cross	cross	NOUN
ajfa-8136	391	11	section	section	NOUN
ajfa-8136	391	12	of	of	ADP
ajfa-8136	391	13	stock	stock	NOUN
ajfa-8136	391	14	returns.research	returns.research	PROPN
ajfa-8136	391	15	collection	collection	NOUN
ajfa-8136	391	16	lee	lee	PROPN
ajfa-8136	391	17	kong	kong	PROPN
ajfa-8136	391	18	school	school	PROPN
ajfa-8136	391	19	of	of	ADP
ajfa-8136	391	20	business	business	NOUN
ajfa-8136	391	21	,	,	PUNCT
ajfa-8136	391	22	available	available	ADJ
ajfa-8136	391	23	at	at	ADP
ajfa-8136	391	24	:	:	PUNCT
ajfa-8136	391	25	http://ink.library.smu.edu.sg/lkcsb_research/3267	http://ink.library.smu.edu.sg/lkcsb_research/3267	PROPN
ajfa-8136	391	26	fujimoto	fujimoto	PROPN
ajfa-8136	391	27	,	,	PUNCT
ajfa-8136	391	28	a.	a.	NOUN
ajfa-8136	391	29	(	(	PUNCT
ajfa-8136	391	30	2004	2004	NUM
ajfa-8136	391	31	)	)	PUNCT
ajfa-8136	391	32	.	.	PUNCT
ajfa-8136	392	1	macroeconomic	macroeconomic	ADJ
ajfa-8136	392	2	sources	source	NOUN
ajfa-8136	392	3	of	of	ADP
ajfa-8136	392	4	systematic	systematic	ADJ
ajfa-8136	392	5	liquidity	liquidity	NOUN
ajfa-8136	392	6	,	,	PUNCT
ajfa-8136	392	7	working	working	NOUN
ajfa-8136	392	8	paper	paper	NOUN
ajfa-8136	392	9	,	,	PUNCT
ajfa-8136	392	10	yale	yale	PROPN
ajfa-8136	392	11	university	university	PROPN
ajfa-8136	392	12	.	.	PUNCT
ajfa-8136	393	1	guo	guo	PROPN
ajfa-8136	393	2	,	,	PUNCT
ajfa-8136	393	3	m.	m.	NOUN
ajfa-8136	393	4	,	,	PUNCT
ajfa-8136	393	5	and	and	CCONJ
ajfa-8136	393	6	g.tian	g.tian	PROPN
ajfa-8136	393	7	(	(	PUNCT
ajfa-8136	393	8	2005	2005	NUM
ajfa-8136	393	9	)	)	PUNCT
ajfa-8136	393	10	,	,	PUNCT
ajfa-8136	393	11	behaviors	behavior	NOUN
ajfa-8136	393	12	of	of	ADP
ajfa-8136	393	13	liquidity	liquidity	NOUN
ajfa-8136	393	14	patterns	pattern	NOUN
ajfa-8136	393	15	in	in	ADP
ajfa-8136	393	16	a	a	DET
ajfa-8136	393	17	limit	limit	NOUN
ajfa-8136	393	18	order	order	NOUN
ajfa-8136	393	19	-	-	PUNCT
ajfa-8136	393	20	driven	drive	VERB
ajfa-8136	393	21	market	market	NOUN
ajfa-8136	393	22	,	,	PUNCT
ajfa-8136	393	23	an	an	DET
ajfa-8136	393	24	evidence	evidence	NOUN
ajfa-8136	393	25	from	from	ADP
ajfa-8136	393	26	chinese	chinese	ADJ
ajfa-8136	393	27	stock	stock	NOUN
ajfa-8136	393	28	markets	market	NOUN
ajfa-8136	393	29	,	,	PUNCT
ajfa-8136	393	30	working	working	NOUN
ajfa-8136	393	31	paper	paper	NOUN
ajfa-8136	393	32	,	,	PUNCT
ajfa-8136	393	33	university	university	NOUN
ajfa-8136	393	34	western	western	PROPN
ajfa-8136	393	35	sydney	sydney	PROPN
ajfa-8136	393	36	.	.	PUNCT
ajfa-8136	394	1	harris	harris	PROPN
ajfa-8136	394	2	,	,	PUNCT
ajfa-8136	394	3	l.	l.	PROPN
ajfa-8136	394	4	(	(	PUNCT
ajfa-8136	394	5	1990	1990	NUM
ajfa-8136	394	6	)	)	PUNCT
ajfa-8136	394	7	.	.	PUNCT
ajfa-8136	395	1	liquidity	liquidity	NOUN
ajfa-8136	395	2	,	,	PUNCT
ajfa-8136	395	3	trading	trading	NOUN
ajfa-8136	395	4	rules	rule	NOUN
ajfa-8136	395	5	,	,	PUNCT
ajfa-8136	395	6	and	and	CCONJ
ajfa-8136	395	7	electronic	electronic	ADJ
ajfa-8136	395	8	trading	trading	NOUN
ajfa-8136	395	9	systems	system	NOUN
ajfa-8136	395	10	.	.	PUNCT
ajfa-8136	396	1	new	new	PROPN
ajfa-8136	396	2	york	york	PROPN
ajfa-8136	396	3	university	university	PROPN
ajfa-8136	396	4	salomon	salomon	PROPN
ajfa-8136	396	5	center	center	PROPN
ajfa-8136	396	6	monograph	monograph	PROPN
ajfa-8136	396	7	series	series	PROPN
ajfa-8136	396	8	in	in	ADP
ajfa-8136	396	9	finance	finance	NOUN
ajfa-8136	396	10	,	,	PUNCT
ajfa-8136	396	11	monograph	monograph	NOUN
ajfa-8136	396	12	#	#	NOUN
ajfa-8136	396	13	1990	1990	NUM
ajfa-8136	396	14	-	-	SYM
ajfa-8136	396	15	4	4	NUM
ajfa-8136	396	16	jayaraman	jayaraman	NOUN
ajfa-8136	396	17	,	,	PUNCT
ajfa-8136	396	18	s.	s.	PROPN
ajfa-8136	396	19	and	and	CCONJ
ajfa-8136	396	20	milbourn	milbourn	NOUN
ajfa-8136	396	21	,	,	PUNCT
ajfa-8136	396	22	t.	t.	NOUN
ajfa-8136	396	23	t.	t.	PROPN
ajfa-8136	396	24	(	(	PUNCT
ajfa-8136	396	25	2011).the	2011).the	DET
ajfa-8136	396	26	role	role	NOUN
ajfa-8136	396	27	of	of	ADP
ajfa-8136	396	28	stock	stock	NOUN
ajfa-8136	396	29	liquidity	liquidity	NOUN
ajfa-8136	396	30	in	in	ADP
ajfa-8136	396	31	executive	executive	ADJ
ajfa-8136	396	32	compensation.the	compensation.the	DET
ajfa-8136	396	33	accounting	accounting	NOUN
ajfa-8136	396	34	review	review	NOUN
ajfa-8136	396	35	,	,	PUNCT
ajfa-8136	396	36	forthcoming	forthcoming	ADJ
ajfa-8136	396	37	.	.	PUNCT
ajfa-8136	396	38	available	available	ADJ
ajfa-8136	396	39	at	at	ADP
ajfa-8136	396	40	ssrn	ssrn	PROPN
ajfa-8136	396	41	:	:	PUNCT
ajfa-8136	396	42	http://ssrn.com/abstract=1477620	http://ssrn.com/abstract=1477620	NOUN
ajfa-8136	396	43	gatchav	gatchav	PROPN
ajfa-8136	396	44	,	,	PUNCT
ajfa-8136	396	45	v.a	v.a	PROPN
ajfa-8136	396	46	.	.	PROPN
ajfa-8136	396	47	,	,	PUNCT
ajfa-8136	396	48	spindt	spindt	PROPN
ajfa-8136	396	49	,	,	PUNCT
ajfa-8136	396	50	p.a	p.a	PROPN
ajfa-8136	396	51	.	.	PROPN
ajfa-8136	396	52	and	and	CCONJ
ajfa-8136	396	53	banerjee	banerjee	PROPN
ajfa-8136	396	54	,	,	PUNCT
ajfa-8136	396	55	s.	s.	PROPN
ajfa-8136	396	56	(	(	PUNCT
ajfa-8136	396	57	2005	2005	NUM
ajfa-8136	396	58	)	)	PUNCT
ajfa-8136	396	59	.	.	PUNCT
ajfa-8136	397	1	stock	stock	NOUN
ajfa-8136	397	2	market	market	NOUN
ajfa-8136	397	3	liquidity	liquidity	NOUN
ajfa-8136	397	4	and	and	CCONJ
ajfa-8136	397	5	firm	firm	ADJ
ajfa-8136	397	6	dividend	dividend	NOUN
ajfa-8136	397	7	policy	policy	NOUN
ajfa-8136	397	8	,	,	PUNCT
ajfa-8136	397	9	available	available	ADJ
ajfa-8136	397	10	at	at	ADP
ajfa-8136	397	11	http://www.tulane.edu/~gatchev/liquidity_and_dividends.pdf	http://www.tulane.edu/~gatchev/liquidity_and_dividends.pdf	PROPN
ajfa-8136	397	12	goyenko	goyenko	PROPN
ajfa-8136	397	13	,	,	PUNCT
ajfa-8136	397	14	r.y	r.y	PROPN
ajfa-8136	397	15	.	.	PROPN
ajfa-8136	397	16	and	and	CCONJ
ajfa-8136	397	17	ukhov	ukhov	PROPN
ajfa-8136	397	18	,	,	PUNCT
ajfa-8136	397	19	a.d	a.d	PROPN
ajfa-8136	397	20	.	.	PROPN
ajfa-8136	397	21	(	(	PUNCT
ajfa-8136	397	22	2009	2009	NUM
ajfa-8136	397	23	)	)	PUNCT
ajfa-8136	397	24	.	.	PUNCT
ajfa-8136	398	1	stock	stock	NOUN
ajfa-8136	398	2	and	and	CCONJ
ajfa-8136	398	3	bond	bond	NOUN
ajfa-8136	398	4	market	market	NOUN
ajfa-8136	398	5	liquidity	liquidity	NOUN
ajfa-8136	398	6	:	:	PUNCT
ajfa-8136	398	7	a	a	DET
ajfa-8136	398	8	long	long	ADV
ajfa-8136	398	9	-	-	PUNCT
ajfa-8136	398	10	run	run	VERB
ajfa-8136	398	11	empirical	empirical	ADJ
ajfa-8136	398	12	analysis	analysis	NOUN
ajfa-8136	398	13	.	.	PUNCT
ajfa-8136	399	1	journal	journal	NOUN
ajfa-8136	399	2	of	of	ADP
ajfa-8136	399	3	financial	financial	ADJ
ajfa-8136	399	4	and	and	CCONJ
ajfa-8136	399	5	quantitative	quantitative	ADJ
ajfa-8136	399	6	analysis	analysis	NOUN
ajfa-8136	399	7	,	,	PUNCT
ajfa-8136	399	8	44(1	44(1	PROPN
ajfa-8136	399	9	)	)	PUNCT
ajfa-8136	399	10	,	,	PUNCT
ajfa-8136	399	11	189–212	189–212	NUM
ajfa-8136	399	12	.	.	PUNCT
ajfa-8136	400	1	http://dx.doi.org/10.2139/ssrn.669942	http://dx.doi.org/10.2139/ssrn.669942	PROPN
ajfa-8136	400	2	hagstromer	hagstromer	PROPN
ajfa-8136	400	3	,	,	PUNCT
ajfa-8136	400	4	b.	b.	PROPN
ajfa-8136	400	5	,	,	PUNCT
ajfa-8136	400	6	hansson	hansson	PROPN
ajfa-8136	400	7	,	,	PUNCT
ajfa-8136	400	8	b.	b.	PROPN
ajfa-8136	400	9	and	and	CCONJ
ajfa-8136	400	10	nilsson	nilsson	PROPN
ajfa-8136	400	11	,	,	PUNCT
ajfa-8136	400	12	b.	b.	PROPN
ajfa-8136	400	13	(	(	PUNCT
ajfa-8136	400	14	2013).illiquidity	2013).illiquidity	NUM
ajfa-8136	400	15	frictions	friction	NOUN
ajfa-8136	400	16	and	and	CCONJ
ajfa-8136	400	17	asset	asset	NOUN
ajfa-8136	400	18	pricing	pricing	NOUN
ajfa-8136	400	19	anomalies	anomaly	NOUN
ajfa-8136	400	20	.	.	PUNCT
ajfa-8136	401	1	available	available	ADJ
ajfa-8136	401	2	at	at	ADP
ajfa-8136	401	3	:	:	PUNCT
ajfa-8136	401	4	asian	asian	ADJ
ajfa-8136	401	5	journal	journal	NOUN
ajfa-8136	401	6	of	of	ADP
ajfa-8136	401	7	finance	finance	PROPN
ajfa-8136	401	8	&	&	CCONJ
ajfa-8136	401	9	accounting	accounting	PROPN
ajfa-8136	401	10	issn	issn	PROPN
ajfa-8136	401	11	1946	1946	NUM
ajfa-8136	401	12	-	-	PUNCT
ajfa-8136	401	13	052x	052x	NOUN
ajfa-8136	401	14	2015	2015	NUM
ajfa-8136	401	15	,	,	PUNCT
ajfa-8136	401	16	vol	vol	NOUN
ajfa-8136	401	17	.	.	PROPN
ajfa-8136	402	1	7	7	NUM
ajfa-8136	402	2	,	,	PUNCT
ajfa-8136	402	3	no	no	INTJ
ajfa-8136	402	4	.	.	NOUN
ajfa-8136	402	5	2	2	NUM
ajfa-8136	402	6	52	52	NUM
ajfa-8136	402	7	http://www.efmaefm.org/0efmameetings/efma%20annual%20meetings/2014rome/papers/efma2014_0481_fullpaper.pdf	http://www.efmaefm.org/0efmameetings/efma%20annual%20meetings/2014rome/papers/efma2014_0481_fullpaper.pdf	NOUN
ajfa-8136	402	8	.	.	PUNCT
ajfa-8136	403	1	hansen	hansen	PROPN
ajfa-8136	403	2	,	,	PUNCT
ajfa-8136	403	3	s.	s.	PROPN
ajfa-8136	403	4	and	and	CCONJ
ajfa-8136	403	5	sungsuk	sungsuk	PROPN
ajfa-8136	403	6	,	,	PUNCT
ajfa-8136	403	7	k.	k.	PROPN
ajfa-8136	403	8	(	(	PUNCT
ajfa-8136	403	9	2013).influence	2013).influence	NUM
ajfa-8136	403	10	of	of	ADP
ajfa-8136	403	11	stock	stock	NOUN
ajfa-8136	403	12	liquidity	liquidity	NOUN
ajfa-8136	403	13	to	to	ADP
ajfa-8136	403	14	firm	firm	ADJ
ajfa-8136	403	15	value	value	NOUN
ajfa-8136	403	16	in	in	ADP
ajfa-8136	403	17	indonesian	indonesian	ADJ
ajfa-8136	403	18	stock	stock	NOUN
ajfa-8136	403	19	market.the	market.the	PROPN
ajfa-8136	403	20	2013	2013	NUM
ajfa-8136	403	21	ibea	ibea	NOUN
ajfa-8136	403	22	,	,	PUNCT
ajfa-8136	403	23	international	international	ADJ
ajfa-8136	403	24	conference	conference	NOUN
ajfa-8136	403	25	on	on	ADP
ajfa-8136	403	26	business	business	NOUN
ajfa-8136	403	27	,	,	PUNCT
ajfa-8136	403	28	economics	economic	NOUN
ajfa-8136	403	29	,	,	PUNCT
ajfa-8136	403	30	and	and	CCONJ
ajfa-8136	403	31	accounting	accounting	NOUN
ajfa-8136	403	32	,	,	PUNCT
ajfa-8136	403	33	20	20	NUM
ajfa-8136	403	34	–	–	SYM
ajfa-8136	403	35	23	23	NUM
ajfa-8136	403	36	march	march	NOUN
ajfa-8136	403	37	2013	2013	NUM
ajfa-8136	403	38	,	,	PUNCT
ajfa-8136	403	39	bangkok	bangkok	PROPN
ajfa-8136	403	40	–	–	PUNCT
ajfa-8136	403	41	thailand	thailand	PROPN
ajfa-8136	403	42	hasbrouck	hasbrouck	PROPN
ajfa-8136	403	43	,	,	PUNCT
ajfa-8136	403	44	j.	j.	PROPN
ajfa-8136	403	45	and	and	CCONJ
ajfa-8136	403	46	r.	r.	PROPN
ajfa-8136	403	47	a.	a.	PROPN
ajfa-8136	403	48	schwartz	schwartz	PROPN
ajfa-8136	403	49	(	(	PUNCT
ajfa-8136	403	50	1988	1988	NUM
ajfa-8136	403	51	)	)	PUNCT
ajfa-8136	403	52	,	,	PUNCT
ajfa-8136	403	53	‘	'	PUNCT
ajfa-8136	403	54	liquidity	liquidity	NOUN
ajfa-8136	403	55	and	and	CCONJ
ajfa-8136	403	56	execution	execution	NOUN
ajfa-8136	403	57	costs	cost	NOUN
ajfa-8136	403	58	in	in	ADP
ajfa-8136	403	59	equity	equity	NOUN
ajfa-8136	403	60	markets	market	NOUN
ajfa-8136	403	61	:	:	PUNCT
ajfa-8136	403	62	how	how	SCONJ
ajfa-8136	403	63	to	to	PART
ajfa-8136	403	64	define	define	VERB
ajfa-8136	403	65	,	,	PUNCT
ajfa-8136	403	66	measure	measure	NOUN
ajfa-8136	403	67	,	,	PUNCT
ajfa-8136	403	68	and	and	CCONJ
ajfa-8136	403	69	compare	compare	VERB
ajfa-8136	403	70	them	they	PRON
ajfa-8136	403	71	’	'	PUNCT
ajfa-8136	403	72	,	,	PUNCT
ajfa-8136	403	73	journal	journal	NOUN
ajfa-8136	403	74	of	of	ADP
ajfa-8136	403	75	portfolio	portfolio	NOUN
ajfa-8136	403	76	management	management	NOUN
ajfa-8136	403	77	,	,	PUNCT
ajfa-8136	403	78	10	10	NUM
ajfa-8136	403	79	-	-	SYM
ajfa-8136	403	80	16	16	NUM
ajfa-8136	403	81	.	.	PUNCT
ajfa-8136	404	1	hasbrouck	hasbrouck	PROPN
ajfa-8136	404	2	,	,	PUNCT
ajfa-8136	404	3	j.	j.	PROPN
ajfa-8136	404	4	(	(	PUNCT
ajfa-8136	404	5	2009	2009	NUM
ajfa-8136	404	6	)	)	PUNCT
ajfa-8136	404	7	.	.	PUNCT
ajfa-8136	405	1	trading	trading	NOUN
ajfa-8136	405	2	costs	cost	NOUN
ajfa-8136	405	3	and	and	CCONJ
ajfa-8136	405	4	returns	return	NOUN
ajfa-8136	405	5	for	for	ADP
ajfa-8136	405	6	us	us	PROPN
ajfa-8136	405	7	equities	equity	NOUN
ajfa-8136	405	8	:	:	PUNCT
ajfa-8136	405	9	estimating	estimate	VERB
ajfa-8136	405	10	effective	effective	ADJ
ajfa-8136	405	11	costs	cost	NOUN
ajfa-8136	405	12	from	from	ADP
ajfa-8136	405	13	daily	daily	ADJ
ajfa-8136	405	14	data	datum	NOUN
ajfa-8136	405	15	.	.	PUNCT
ajfa-8136	406	1	journal	journal	PROPN
ajfa-8136	406	2	of	of	ADP
ajfa-8136	406	3	finance	finance	NOUN
ajfa-8136	406	4	,	,	PUNCT
ajfa-8136	406	5	64	64	NUM
ajfa-8136	406	6	,	,	PUNCT
ajfa-8136	406	7	1445–1477	1445–1477	NUM
ajfa-8136	406	8	.	.	PUNCT
ajfa-8136	407	1	http://dx.doi.org/10.1111/j.1540-6261.2009.01469.x	http://dx.doi.org/10.1111/j.1540-6261.2009.01469.x	PROPN
ajfa-8136	407	2	hearn	hearn	PROPN
ajfa-8136	407	3	,	,	PUNCT
ajfa-8136	407	4	b.	b.	PROPN
ajfa-8136	407	5	,	,	PUNCT
ajfa-8136	407	6	&	&	CCONJ
ajfa-8136	407	7	piesse	piesse	PROPN
ajfa-8136	407	8	,	,	PUNCT
ajfa-8136	407	9	j.	j.	PROPN
ajfa-8136	407	10	(	(	PUNCT
ajfa-8136	407	11	2009	2009	NUM
ajfa-8136	407	12	)	)	PUNCT
ajfa-8136	407	13	an	an	DET
ajfa-8136	407	14	augmented	augment	VERB
ajfa-8136	407	15	capital	capital	NOUN
ajfa-8136	407	16	asset	asset	NOUN
ajfa-8136	407	17	pricing	pricing	NOUN
ajfa-8136	407	18	model	model	NOUN
ajfa-8136	407	19	:	:	PUNCT
ajfa-8136	407	20	liquidity	liquidity	NOUN
ajfa-8136	407	21	and	and	CCONJ
ajfa-8136	407	22	stock	stock	NOUN
ajfa-8136	407	23	size	size	NOUN
ajfa-8136	407	24	in	in	ADP
ajfa-8136	407	25	african	african	ADJ
ajfa-8136	407	26	emerging	emerge	VERB
ajfa-8136	407	27	financial	financial	ADJ
ajfa-8136	407	28	markets	market	NOUN
ajfa-8136	407	29	.	.	PUNCT
ajfa-8136	408	1	african	african	ADJ
ajfa-8136	408	2	journal	journal	PROPN
ajfa-8136	408	3	of	of	ADP
ajfa-8136	408	4	finance	finance	NOUN
ajfa-8136	408	5	,	,	PUNCT
ajfa-8136	408	6	special	special	ADJ
ajfa-8136	408	7	edition	edition	NOUN
ajfa-8136	408	8	:	:	PUNCT
ajfa-8136	408	9	27	27	NUM
ajfa-8136	408	10	-	-	SYM
ajfa-8136	408	11	57	57	NUM
ajfa-8136	408	12	hillert	hillert	ADJ
ajfa-8136	408	13	,	,	PUNCT
ajfa-8136	408	14	a.	a.	NOUN
ajfa-8136	408	15	,	,	PUNCT
ajfa-8136	408	16	maug	maug	NOUN
ajfa-8136	408	17	,	,	PUNCT
ajfa-8136	408	18	e.	e.	PROPN
ajfa-8136	408	19	and	and	CCONJ
ajfa-8136	408	20	obernberger	obernberger	NOUN
ajfa-8136	408	21	,	,	PUNCT
ajfa-8136	408	22	s.	s.	PROPN
ajfa-8136	408	23	(	(	PUNCT
ajfa-8136	408	24	2015	2015	NUM
ajfa-8136	408	25	)	)	PUNCT
ajfa-8136	408	26	.	.	PUNCT
ajfa-8136	409	1	stock	stock	NOUN
ajfa-8136	409	2	repurchases	repurchase	NOUN
ajfa-8136	409	3	and	and	CCONJ
ajfa-8136	409	4	market	market	NOUN
ajfa-8136	409	5	liquidity	liquidity	NOUN
ajfa-8136	409	6	,	,	PUNCT
ajfa-8136	409	7	available	available	ADJ
ajfa-8136	409	8	at	at	ADP
ajfa-8136	409	9	ssrn	ssrn	PROPN
ajfa-8136	409	10	:	:	PUNCT
ajfa-8136	409	11	http://dx.doi.org/10.2139/ssrn.2369470	http://dx.doi.org/10.2139/ssrn.2369470	PROPN
ajfa-8136	409	12	huang	huang	PROPN
ajfa-8136	409	13	,	,	PUNCT
ajfa-8136	409	14	r.	r.	PROPN
ajfa-8136	409	15	d.	d.	PROPN
ajfa-8136	409	16	and	and	CCONJ
ajfa-8136	409	17	stoll	stoll	PROPN
ajfa-8136	409	18	,	,	PUNCT
ajfa-8136	409	19	h.	h.	PROPN
ajfa-8136	409	20	(	(	PUNCT
ajfa-8136	409	21	1996	1996	NUM
ajfa-8136	409	22	)	)	PUNCT
ajfa-8136	409	23	.	.	PUNCT
ajfa-8136	410	1	dealer	dealer	NOUN
ajfa-8136	410	2	versus	versus	ADP
ajfa-8136	410	3	auction	auction	NOUN
ajfa-8136	410	4	markets	market	NOUN
ajfa-8136	410	5	:	:	PUNCT
ajfa-8136	410	6	a	a	DET
ajfa-8136	410	7	paired	pair	VERB
ajfa-8136	410	8	comparison	comparison	NOUN
ajfa-8136	410	9	of	of	ADP
ajfa-8136	410	10	execution	execution	NOUN
ajfa-8136	410	11	costs	cost	NOUN
ajfa-8136	410	12	on	on	ADP
ajfa-8136	410	13	nasdaq	nasdaq	PROPN
ajfa-8136	410	14	and	and	CCONJ
ajfa-8136	410	15	the	the	DET
ajfa-8136	410	16	nyse	nyse	PROPN
ajfa-8136	410	17	.	.	PUNCT
ajfa-8136	410	18	journal	journal	PROPN
ajfa-8136	410	19	of	of	ADP
ajfa-8136	410	20	financial	financial	ADJ
ajfa-8136	410	21	economics	economic	NOUN
ajfa-8136	410	22	,	,	PUNCT
ajfa-8136	410	23	41	41	NUM
ajfa-8136	410	24	,	,	PUNCT
ajfa-8136	410	25	313	313	NUM
ajfa-8136	410	26	–	–	SYM
ajfa-8136	410	27	357	357	NUM
ajfa-8136	410	28	huang	huang	PROPN
ajfa-8136	410	29	,	,	PUNCT
ajfa-8136	410	30	t.	t.	PROPN
ajfa-8136	410	31	,	,	PUNCT
ajfa-8136	410	32	wu	wu	PROPN
ajfa-8136	410	33	,	,	PUNCT
ajfa-8136	410	34	f.	f.	PROPN
ajfa-8136	410	35	,	,	PUNCT
ajfa-8136	410	36	yu	yu	PROPN
ajfa-8136	410	37	,	,	PUNCT
ajfa-8136	410	38	j.	j.	PROPN
ajfa-8136	410	39	and	and	CCONJ
ajfa-8136	410	40	zhang	zhang	PROPN
ajfa-8136	410	41	,	,	PUNCT
ajfa-8136	410	42	b.	b.	PROPN
ajfa-8136	410	43	(	(	PUNCT
ajfa-8136	410	44	2013	2013	NUM
ajfa-8136	410	45	)	)	PUNCT
ajfa-8136	410	46	.	.	PUNCT
ajfa-8136	411	1	the	the	DET
ajfa-8136	411	2	value	value	NOUN
ajfa-8136	411	3	impact	impact	NOUN
ajfa-8136	411	4	of	of	ADP
ajfa-8136	411	5	stock	stock	NOUN
ajfa-8136	411	6	liquidity	liquidity	NOUN
ajfa-8136	411	7	:	:	PUNCT
ajfa-8136	411	8	an	an	DET
ajfa-8136	411	9	international	international	ADJ
ajfa-8136	411	10	evidence	evidence	NOUN
ajfa-8136	411	11	.	.	PUNCT
ajfa-8136	412	1	available	available	ADJ
ajfa-8136	412	2	at	at	ADP
ajfa-8136	412	3	ssrn	ssrn	PROPN
ajfa-8136	412	4	:	:	PUNCT
ajfa-8136	412	5	http://dx.doi.org/10.2139/ssrn.2208875	http://dx.doi.org/10.2139/ssrn.2208875	NOUN
ajfa-8136	412	6	hubers	huber	NOUN
ajfa-8136	412	7	,	,	PUNCT
ajfa-8136	412	8	t.	t.	PROPN
ajfa-8136	412	9	(	(	PUNCT
ajfa-8136	412	10	2012	2012	NUM
ajfa-8136	412	11	)	)	PUNCT
ajfa-8136	412	12	.	.	PUNCT
ajfa-8136	413	1	liquidity	liquidity	NOUN
ajfa-8136	413	2	and	and	CCONJ
ajfa-8136	413	3	asset	asset	NOUN
ajfa-8136	413	4	pricing	pricing	NOUN
ajfa-8136	413	5	:	:	PUNCT
ajfa-8136	413	6	evidence	evidence	NOUN
ajfa-8136	413	7	for	for	ADP
ajfa-8136	413	8	the	the	DET
ajfa-8136	413	9	london	london	PROPN
ajfa-8136	413	10	stock	stock	NOUN
ajfa-8136	413	11	exchange	exchange	PROPN
ajfa-8136	413	12	.	.	PUNCT
ajfa-8136	414	1	available	available	ADJ
ajfa-8136	414	2	at	at	ADP
ajfa-8136	414	3	:	:	PUNCT
ajfa-8136	414	4	http://arno.uvt.nl/show.cgi?fid=129643	http://arno.uvt.nl/show.cgi?fid=129643	NUM
ajfa-8136	414	5	.	.	PUNCT
ajfa-8136	414	6	hui	hui	PROPN
ajfa-8136	414	7	,	,	PUNCT
ajfa-8136	414	8	b.	b.	PROPN
ajfa-8136	414	9	and	and	CCONJ
ajfa-8136	414	10	heubel	heubel	PROPN
ajfa-8136	414	11	,	,	PUNCT
ajfa-8136	414	12	b.	b.	PROPN
ajfa-8136	414	13	(	(	PUNCT
ajfa-8136	414	14	1984	1984	NUM
ajfa-8136	414	15	)	)	PUNCT
ajfa-8136	414	16	.	.	PUNCT
ajfa-8136	415	1	comparative	comparative	ADJ
ajfa-8136	415	2	liquidity	liquidity	NOUN
ajfa-8136	415	3	advantages	advantage	NOUN
ajfa-8136	415	4	among	among	ADP
ajfa-8136	415	5	major	major	ADJ
ajfa-8136	415	6	u.s	u.s	PROPN
ajfa-8136	415	7	.	.	PROPN
ajfa-8136	415	8	stock	stock	NOUN
ajfa-8136	415	9	markets	market	NOUN
ajfa-8136	415	10	.	.	PUNCT
ajfa-8136	416	1	lexington	lexington	PROPN
ajfa-8136	416	2	,	,	PUNCT
ajfa-8136	416	3	ma	ma	PROPN
ajfa-8136	416	4	,	,	PUNCT
ajfa-8136	416	5	data	data	NOUN
ajfa-8136	416	6	resources	resource	NOUN
ajfa-8136	416	7	,	,	PUNCT
ajfa-8136	416	8	inc	inc	PROPN
ajfa-8136	416	9	.	.	PROPN
ajfa-8136	416	10	huyghebaert	huyghebaert	PROPN
ajfa-8136	416	11	,	,	PUNCT
ajfa-8136	416	12	n.	n.	NOUN
ajfa-8136	416	13	and	and	CCONJ
ajfa-8136	416	14	hulle	hulle	PROPN
ajfa-8136	416	15	,	,	PUNCT
ajfa-8136	416	16	c.v	c.v	PROPN
ajfa-8136	416	17	.	.	PROPN
ajfa-8136	416	18	(	(	PUNCT
ajfa-8136	416	19	2004).the	2004).the	DET
ajfa-8136	416	20	role	role	NOUN
ajfa-8136	416	21	of	of	ADP
ajfa-8136	416	22	institutional	institutional	ADJ
ajfa-8136	416	23	investors	investor	NOUN
ajfa-8136	416	24	in	in	ADP
ajfa-8136	416	25	corporate	corporate	ADJ
ajfa-8136	416	26	finance	finance	NOUN
ajfa-8136	416	27	.	.	PUNCT
ajfa-8136	417	1	tijdschriftvooreconomieen	tijdschriftvooreconomieen	PROPN
ajfa-8136	417	2	management	management	NOUN
ajfa-8136	417	3	,	,	PUNCT
ajfa-8136	417	4	xlix(4	xlix(4	PROPN
ajfa-8136	417	5	)	)	PUNCT
ajfa-8136	417	6	jacoby	jacoby	PROPN
ajfa-8136	417	7	,	,	PUNCT
ajfa-8136	417	8	g.	g.	PROPN
ajfa-8136	417	9	and	and	CCONJ
ajfa-8136	417	10	zheng	zheng	PROPN
ajfa-8136	417	11	,	,	PUNCT
ajfa-8136	417	12	s.x	s.x	PROPN
ajfa-8136	417	13	.	.	PUNCT
ajfa-8136	418	1	(	(	PUNCT
ajfa-8136	418	2	2010).ownership	2010).ownership	NUM
ajfa-8136	418	3	dispersion	dispersion	NOUN
ajfa-8136	418	4	and	and	CCONJ
ajfa-8136	418	5	market	market	NOUN
ajfa-8136	418	6	liquidity.international	liquidity.international	ADJ
ajfa-8136	418	7	review	review	NOUN
ajfa-8136	418	8	of	of	ADP
ajfa-8136	418	9	financial	financial	ADJ
ajfa-8136	418	10	analysis	analysis	NOUN
ajfa-8136	418	11	,	,	PUNCT
ajfa-8136	418	12	19	19	NUM
ajfa-8136	418	13	,	,	PUNCT
ajfa-8136	418	14	81–88	81–88	NUM
ajfa-8136	418	15	.	.	PUNCT
ajfa-8136	419	1	http://dx.doi.org/	http://dx.doi.org/	X
ajfa-8136	419	2	10.1016	10.1016	NUM
ajfa-8136	419	3	/	/	SYM
ajfa-8136	419	4	j.irfa.2010.01.008	j.irfa.2010.01.008	NOUN
ajfa-8136	419	5	keynes	keyne	NOUN
ajfa-8136	419	6	,	,	PUNCT
ajfa-8136	419	7	j.	j.	PROPN
ajfa-8136	419	8	m.	m.	PROPN
ajfa-8136	419	9	(	(	PUNCT
ajfa-8136	419	10	1930	1930	NUM
ajfa-8136	419	11	)	)	PUNCT
ajfa-8136	419	12	.	.	PUNCT
ajfa-8136	420	1	a	a	DET
ajfa-8136	420	2	treatise	treatise	NOUN
ajfa-8136	420	3	on	on	ADP
ajfa-8136	420	4	money	money	NOUN
ajfa-8136	420	5	,	,	PUNCT
ajfa-8136	420	6	macmillan	macmillan	PROPN
ajfa-8136	420	7	,	,	PUNCT
ajfa-8136	420	8	london	london	PROPN
ajfa-8136	420	9	,	,	PUNCT
ajfa-8136	420	10	first	first	ADJ
ajfa-8136	420	11	edition	edition	NOUN
ajfa-8136	420	12	,	,	PUNCT
ajfa-8136	420	13	volume	volume	NOUN
ajfa-8136	420	14	2	2	NUM
ajfa-8136	420	15	kim	kim	PROPN
ajfa-8136	420	16	,	,	PUNCT
ajfa-8136	420	17	o.	o.	NOUN
ajfa-8136	420	18	and	and	CCONJ
ajfa-8136	420	19	verrecchia	verrecchia	PROPN
ajfa-8136	420	20	,	,	PUNCT
ajfa-8136	420	21	r.e	r.e	PROPN
ajfa-8136	420	22	.	.	PUNCT
ajfa-8136	421	1	(	(	PUNCT
ajfa-8136	421	2	1994).market	1994).market	NUM
ajfa-8136	421	3	liquidity	liquidity	NOUN
ajfa-8136	421	4	and	and	CCONJ
ajfa-8136	421	5	volume	volume	NOUN
ajfa-8136	421	6	around	around	ADP
ajfa-8136	421	7	earnings	earning	NOUN
ajfa-8136	421	8	announcements.journal	announcements.journal	PROPN
ajfa-8136	421	9	of	of	ADP
ajfa-8136	421	10	accounting	accounting	NOUN
ajfa-8136	421	11	and	and	CCONJ
ajfa-8136	421	12	economics	economic	NOUN
ajfa-8136	421	13	,	,	PUNCT
ajfa-8136	421	14	17(1–2	17(1–2	PROPN
ajfa-8136	421	15	)	)	PUNCT
ajfa-8136	421	16	,	,	PUNCT
ajfa-8136	421	17	41–67	41–67	NUM
ajfa-8136	421	18	.	.	PUNCT
ajfa-8136	422	1	http://dx.doi.org/10.1016/0165-4101(94)90004-3	http://dx.doi.org/10.1016/0165-4101(94)90004-3	PROPN
ajfa-8136	422	2	köksal	köksal	PROPN
ajfa-8136	422	3	,	,	PUNCT
ajfa-8136	422	4	b.	b.	PROPN
ajfa-8136	422	5	(	(	PUNCT
ajfa-8136	422	6	2012	2012	NUM
ajfa-8136	422	7	)	)	PUNCT
ajfa-8136	422	8	.	.	PUNCT
ajfa-8136	423	1	an	an	DET
ajfa-8136	423	2	analysis	analysis	NOUN
ajfa-8136	423	3	of	of	ADP
ajfa-8136	423	4	intraday	intraday	NOUN
ajfa-8136	423	5	patterns	pattern	NOUN
ajfa-8136	423	6	and	and	CCONJ
ajfa-8136	423	7	liquidity	liquidity	NOUN
ajfa-8136	423	8	on	on	ADP
ajfa-8136	423	9	the	the	DET
ajfa-8136	423	10	istanbul	istanbul	PROPN
ajfa-8136	423	11	stock	stock	PROPN
ajfa-8136	423	12	exchange.central	exchange.central	PROPN
ajfa-8136	423	13	bank	bank	NOUN
ajfa-8136	423	14	of	of	ADP
ajfa-8136	423	15	the	the	DET
ajfa-8136	423	16	republic	republic	NOUN
ajfa-8136	423	17	of	of	ADP
ajfa-8136	423	18	turkey	turkey	NOUN
ajfa-8136	423	19	,	,	PUNCT
ajfa-8136	423	20	research	research	NOUN
ajfa-8136	423	21	and	and	CCONJ
ajfa-8136	423	22	monetary	monetary	ADJ
ajfa-8136	423	23	policy	policy	NOUN
ajfa-8136	423	24	department	department	PROPN
ajfa-8136	423	25	working	working	PROPN
ajfa-8136	423	26	paper	paper	NOUN
ajfa-8136	423	27	,	,	PUNCT
ajfa-8136	423	28	no	no	INTJ
ajfa-8136	423	29	.	.	NOUN
ajfa-8136	423	30	12/26	12/26	NUM
ajfa-8136	423	31	.	.	PUNCT
ajfa-8136	424	1	asian	asian	ADJ
ajfa-8136	424	2	journal	journal	PROPN
ajfa-8136	424	3	of	of	ADP
ajfa-8136	424	4	finance	finance	PROPN
ajfa-8136	424	5	&	&	CCONJ
ajfa-8136	424	6	accounting	accounting	PROPN
ajfa-8136	424	7	issn	issn	PROPN
ajfa-8136	424	8	1946	1946	NUM
ajfa-8136	424	9	-	-	PUNCT
ajfa-8136	424	10	052x	052x	NOUN
ajfa-8136	424	11	2015	2015	NUM
ajfa-8136	424	12	,	,	PUNCT
ajfa-8136	424	13	vol	vol	NOUN
ajfa-8136	424	14	.	.	PROPN
ajfa-8136	424	15	7	7	NUM
ajfa-8136	424	16	,	,	PUNCT
ajfa-8136	424	17	no	no	INTJ
ajfa-8136	424	18	.	.	NOUN
ajfa-8136	424	19	2	2	NUM
ajfa-8136	424	20	53	53	NUM
ajfa-8136	424	21	krishnan	krishnan	PROPN
ajfa-8136	424	22	,	,	PUNCT
ajfa-8136	424	23	r.	r.	PROPN
ajfa-8136	424	24	and	and	CCONJ
ajfa-8136	424	25	mishra	mishra	PROPN
ajfa-8136	424	26	,	,	PUNCT
ajfa-8136	424	27	v.	v.	PROPN
ajfa-8136	424	28	(	(	PUNCT
ajfa-8136	424	29	2013).intraday	2013).intraday	NUM
ajfa-8136	424	30	liquidity	liquidity	NOUN
ajfa-8136	424	31	patterns	pattern	NOUN
ajfa-8136	424	32	in	in	ADP
ajfa-8136	424	33	indian	indian	ADJ
ajfa-8136	424	34	stock	stock	NOUN
ajfa-8136	424	35	market.journal	market.journal	PROPN
ajfa-8136	424	36	of	of	ADP
ajfa-8136	424	37	asian	asian	ADJ
ajfa-8136	424	38	economics	economic	NOUN
ajfa-8136	424	39	,	,	PUNCT
ajfa-8136	424	40	28	28	NUM
ajfa-8136	424	41	,	,	PUNCT
ajfa-8136	424	42	99–114	99–114	NUM
ajfa-8136	424	43	.	.	PUNCT
ajfa-8136	425	1	http://dx.doi.org/10.1016/j.asieco.2013.05.005	http://dx.doi.org/10.1016/j.asieco.2013.05.005	PROPN
ajfa-8136	425	2	kumar	kumar	PROPN
ajfa-8136	425	3	,	,	PUNCT
ajfa-8136	425	4	m.	m.	NOUN
ajfa-8136	425	5	,	,	PUNCT
ajfa-8136	425	6	bhole	bhole	PROPN
ajfa-8136	425	7	,	,	PUNCT
ajfa-8136	425	8	l.m	l.m	PROPN
ajfa-8136	425	9	.	.	PROPN
ajfa-8136	425	10	and	and	CCONJ
ajfa-8136	425	11	saudagaran	saudagaran	PROPN
ajfa-8136	425	12	,	,	PUNCT
ajfa-8136	425	13	s.m	s.m	PROPN
ajfa-8136	425	14	.	.	PROPN
ajfa-8136	425	15	(	(	PUNCT
ajfa-8136	425	16	2001	2001	NUM
ajfa-8136	425	17	)	)	PUNCT
ajfa-8136	425	18	.	.	PUNCT
ajfa-8136	426	1	the	the	DET
ajfa-8136	426	2	impact	impact	NOUN
ajfa-8136	426	3	of	of	ADP
ajfa-8136	426	4	international	international	ADJ
ajfa-8136	426	5	listings	listing	NOUN
ajfa-8136	426	6	on	on	ADP
ajfa-8136	426	7	liquidity	liquidity	NOUN
ajfa-8136	426	8	:	:	PUNCT
ajfa-8136	426	9	evidence	evidence	NOUN
ajfa-8136	426	10	from	from	ADP
ajfa-8136	426	11	the	the	DET
ajfa-8136	426	12	indian	indian	ADJ
ajfa-8136	426	13	stock	stock	NOUN
ajfa-8136	426	14	market	market	NOUN
ajfa-8136	426	15	.	.	PUNCT
ajfa-8136	427	1	vikalpa	vikalpa	NOUN
ajfa-8136	427	2	,	,	PUNCT
ajfa-8136	427	3	26(4	26(4	NUM
ajfa-8136	427	4	)	)	PUNCT
ajfa-8136	427	5	,	,	PUNCT
ajfa-8136	427	6	35	35	NUM
ajfa-8136	427	7	-	-	SYM
ajfa-8136	427	8	50	50	NUM
ajfa-8136	427	9	.	.	PUNCT
ajfa-8136	428	1	kyle	kyle	PROPN
ajfa-8136	428	2	,	,	PUNCT
ajfa-8136	428	3	a.s	a.s	PROPN
ajfa-8136	428	4	.	.	PROPN
ajfa-8136	428	5	,	,	PUNCT
ajfa-8136	428	6	(	(	PUNCT
ajfa-8136	428	7	1985	1985	NUM
ajfa-8136	428	8	)	)	PUNCT
ajfa-8136	428	9	.	.	PUNCT
ajfa-8136	429	1	continuous	continuous	ADJ
ajfa-8136	429	2	auctions	auction	NOUN
ajfa-8136	429	3	and	and	CCONJ
ajfa-8136	429	4	insider	insider	NOUN
ajfa-8136	429	5	trading	trading	NOUN
ajfa-8136	429	6	.	.	PUNCT
ajfa-8136	430	1	econometrica	econometrica	PROPN
ajfa-8136	430	2	,	,	PUNCT
ajfa-8136	430	3	53	53	NUM
ajfa-8136	430	4	,	,	PUNCT
ajfa-8136	430	5	1315	1315	NUM
ajfa-8136	430	6	-	-	SYM
ajfa-8136	430	7	1335	1335	NUM
ajfa-8136	430	8	lam	lam	PROPN
ajfa-8136	430	9	,	,	PUNCT
ajfa-8136	430	10	k.s.k	k.s.k	NOUN
ajfa-8136	430	11	.	.	PUNCT
ajfa-8136	430	12	,	,	PUNCT
ajfa-8136	430	13	and	and	CCONJ
ajfa-8136	430	14	tam	tam	PROPN
ajfa-8136	430	15	,	,	PUNCT
ajfa-8136	430	16	l.h.k	l.h.k	NOUN
ajfa-8136	430	17	.	.	PUNCT
ajfa-8136	430	18	(	(	PUNCT
ajfa-8136	430	19	2011	2011	NUM
ajfa-8136	430	20	)	)	PUNCT
ajfa-8136	430	21	.	.	PUNCT
ajfa-8136	431	1	liquidity	liquidity	NOUN
ajfa-8136	431	2	and	and	CCONJ
ajfa-8136	431	3	asset	asset	NOUN
ajfa-8136	431	4	pricing	pricing	NOUN
ajfa-8136	431	5	:	:	PUNCT
ajfa-8136	431	6	evidence	evidence	NOUN
ajfa-8136	431	7	from	from	ADP
ajfa-8136	431	8	the	the	DET
ajfa-8136	431	9	hong	hong	PROPN
ajfa-8136	431	10	kong	kong	PROPN
ajfa-8136	431	11	stock	stock	NOUN
ajfa-8136	431	12	market	market	NOUN
ajfa-8136	431	13	.	.	PUNCT
ajfa-8136	432	1	journal	journal	NOUN
ajfa-8136	432	2	of	of	ADP
ajfa-8136	432	3	banking	banking	NOUN
ajfa-8136	432	4	&	&	CCONJ
ajfa-8136	432	5	finance	finance	PROPN
ajfa-8136	432	6	,	,	PUNCT
ajfa-8136	432	7	35(9	35(9	NUM
ajfa-8136	432	8	)	)	PUNCT
ajfa-8136	432	9	,	,	PUNCT
ajfa-8136	432	10	2217–2230	2217–2230	NUM
ajfa-8136	432	11	.	.	PUNCT
ajfa-8136	433	1	lipson	lipson	PROPN
ajfa-8136	433	2	,	,	PUNCT
ajfa-8136	433	3	m.	m.	NOUN
ajfa-8136	433	4	l.	l.	PROPN
ajfa-8136	433	5	and	and	CCONJ
ajfa-8136	433	6	mortal	mortal	ADJ
ajfa-8136	433	7	,	,	PUNCT
ajfa-8136	433	8	s.	s.	PROPN
ajfa-8136	433	9	(	(	PUNCT
ajfa-8136	433	10	2009	2009	NUM
ajfa-8136	433	11	)	)	PUNCT
ajfa-8136	433	12	.	.	PUNCT
ajfa-8136	434	1	liquidity	liquidity	NOUN
ajfa-8136	434	2	and	and	CCONJ
ajfa-8136	434	3	capital	capital	NOUN
ajfa-8136	434	4	structure.journal	structure.journal	PROPN
ajfa-8136	434	5	of	of	ADP
ajfa-8136	434	6	financial	financial	ADJ
ajfa-8136	434	7	markets	market	NOUN
ajfa-8136	434	8	,	,	PUNCT
ajfa-8136	434	9	forthcoming	forthcoming	ADJ
ajfa-8136	434	10	;	;	PUNCT
ajfa-8136	434	11	darden	darden	PROPN
ajfa-8136	434	12	business	business	NOUN
ajfa-8136	434	13	school	school	NOUN
ajfa-8136	434	14	working	working	NOUN
ajfa-8136	434	15	paper	paper	NOUN
ajfa-8136	434	16	.	.	PUNCT
ajfa-8136	435	1	available	available	ADJ
ajfa-8136	435	2	at	at	ADP
ajfa-8136	435	3	ssrn	ssrn	NOUN
ajfa-8136	435	4	:	:	PUNCT
ajfa-8136	435	5	http://ssrn.com/abstract=887413	http://ssrn.com/abstract=887413	PROPN
ajfa-8136	435	6	liu	liu	PROPN
ajfa-8136	435	7	,	,	PUNCT
ajfa-8136	435	8	c.	c.	PROPN
ajfa-8136	435	9	,	,	PUNCT
ajfa-8136	435	10	agarwal	agarwal	PROPN
ajfa-8136	435	11	,	,	PUNCT
ajfa-8136	435	12	s.	s.	PROPN
ajfa-8136	435	13	,	,	PUNCT
ajfa-8136	435	14	faircloth	faircloth	NOUN
ajfa-8136	435	15	,	,	PUNCT
ajfa-8136	435	16	s.	s.	PROPN
ajfa-8136	435	17	,	,	PUNCT
ajfa-8136	435	18	and	and	CCONJ
ajfa-8136	435	19	rhee	rhee	PROPN
ajfa-8136	435	20	,	,	PUNCT
ajfa-8136	435	21	s.	s.	PROPN
ajfa-8136	435	22	g.	g.	PROPN
ajfa-8136	435	23	(	(	PUNCT
ajfa-8136	435	24	2009	2009	NUM
ajfa-8136	435	25	)	)	PUNCT
ajfa-8136	435	26	.	.	PUNCT
ajfa-8136	436	1	why	why	SCONJ
ajfa-8136	436	2	do	do	AUX
ajfa-8136	436	3	foreign	foreign	ADJ
ajfa-8136	436	4	investors	investor	NOUN
ajfa-8136	436	5	underperform	underperform	VERB
ajfa-8136	436	6	domestic	domestic	ADJ
ajfa-8136	436	7	investors	investor	NOUN
ajfa-8136	436	8	in	in	ADP
ajfa-8136	436	9	trading	trading	NOUN
ajfa-8136	436	10	activities	activity	NOUN
ajfa-8136	436	11	?	?	PUNCT
ajfa-8136	437	1	evidence	evidence	NOUN
ajfa-8136	437	2	from	from	ADP
ajfa-8136	437	3	indonesia.journal	indonesia.journal	PROPN
ajfa-8136	437	4	of	of	ADP
ajfa-8136	437	5	financial	financial	ADJ
ajfa-8136	437	6	markets	market	NOUN
ajfa-8136	437	7	,	,	PUNCT
ajfa-8136	437	8	12(1	12(1	NUM
ajfa-8136	437	9	)	)	PUNCT
ajfa-8136	437	10	,	,	PUNCT
ajfa-8136	437	11	32–53	32–53	NUM
ajfa-8136	437	12	.	.	PUNCT
ajfa-8136	438	1	http://dx.doi.org/10.1016/j.finmar.2008.04.001	http://dx.doi.org/10.1016/j.finmar.2008.04.001	PROPN
ajfa-8136	438	2	levine	levine	PROPN
ajfa-8136	438	3	,	,	PUNCT
ajfa-8136	438	4	r.	r.	PROPN
ajfa-8136	438	5	and	and	CCONJ
ajfa-8136	438	6	zervos	zervos	PROPN
ajfa-8136	438	7	,	,	PUNCT
ajfa-8136	438	8	s.	s.	PROPN
ajfa-8136	438	9	(	(	PUNCT
ajfa-8136	438	10	1998	1998	NUM
ajfa-8136	438	11	)	)	PUNCT
ajfa-8136	438	12	.	.	PUNCT
ajfa-8136	439	1	stock	stock	NOUN
ajfa-8136	439	2	markets	market	NOUN
ajfa-8136	439	3	,	,	PUNCT
ajfa-8136	439	4	banks	bank	NOUN
ajfa-8136	439	5	,	,	PUNCT
ajfa-8136	439	6	and	and	CCONJ
ajfa-8136	439	7	economic	economic	ADJ
ajfa-8136	439	8	growth.american	growth.american	NUM
ajfa-8136	439	9	economic	economic	ADJ
ajfa-8136	439	10	review	review	NOUN
ajfa-8136	439	11	,	,	PUNCT
ajfa-8136	439	12	88	88	NUM
ajfa-8136	439	13	,	,	PUNCT
ajfa-8136	439	14	537–558	537–558	NUM
ajfa-8136	439	15	narayan	narayan	X
ajfa-8136	439	16	,	,	PUNCT
ajfa-8136	439	17	p.k	p.k	PROPN
ajfa-8136	439	18	.	.	PROPN
ajfa-8136	439	19	and	and	CCONJ
ajfa-8136	439	20	zheng	zheng	PROPN
ajfa-8136	439	21	,	,	PUNCT
ajfa-8136	439	22	x.	x.	NOUN
ajfa-8136	439	23	(	(	PUNCT
ajfa-8136	439	24	2011).the	2011).the	DET
ajfa-8136	439	25	relationship	relationship	NOUN
ajfa-8136	439	26	between	between	ADP
ajfa-8136	439	27	liquidity	liquidity	NOUN
ajfa-8136	439	28	and	and	CCONJ
ajfa-8136	439	29	returns	return	NOUN
ajfa-8136	439	30	on	on	ADP
ajfa-8136	439	31	the	the	DET
ajfa-8136	439	32	chinese	chinese	ADJ
ajfa-8136	439	33	stock	stock	NOUN
ajfa-8136	439	34	market.journal	market.journal	PROPN
ajfa-8136	439	35	of	of	ADP
ajfa-8136	439	36	asian	asian	ADJ
ajfa-8136	439	37	economies	economy	NOUN
ajfa-8136	439	38	,	,	PUNCT
ajfa-8136	439	39	22	22	NUM
ajfa-8136	439	40	,	,	PUNCT
ajfa-8136	439	41	259	259	NUM
ajfa-8136	439	42	-	-	SYM
ajfa-8136	439	43	266	266	NUM
ajfa-8136	439	44	.	.	PUNCT
ajfa-8136	440	1	http://dx.doi.org/10.1016/j.asieco.2011.02.005	http://dx.doi.org/10.1016/j.asieco.2011.02.005	PROPN
ajfa-8136	440	2	nguyen	nguyen	PROPN
ajfa-8136	440	3	,	,	PUNCT
ajfa-8136	440	4	d.	d.	PROPN
ajfa-8136	440	5	,	,	PUNCT
ajfa-8136	440	6	mishra	mishra	PROPN
ajfa-8136	440	7	,	,	PUNCT
ajfa-8136	440	8	s.	s.	PROPN
ajfa-8136	440	9	,	,	PUNCT
ajfa-8136	440	10	prakash	prakash	PROPN
ajfa-8136	440	11	,	,	PUNCT
ajfa-8136	440	12	a.	a.	PROPN
ajfa-8136	440	13	,	,	PUNCT
ajfa-8136	440	14	and	and	CCONJ
ajfa-8136	440	15	ghosh	ghosh	PROPN
ajfa-8136	440	16	,	,	PUNCT
ajfa-8136	440	17	d.	d.	PROPN
ajfa-8136	440	18	(	(	PUNCT
ajfa-8136	440	19	2007).liquidity	2007).liquidity	NUM
ajfa-8136	440	20	and	and	CCONJ
ajfa-8136	440	21	asset	asset	NOUN
ajfa-8136	440	22	pricing	pricing	NOUN
ajfa-8136	440	23	under	under	ADP
ajfa-8136	440	24	the	the	DET
ajfa-8136	440	25	three	three	NUM
ajfa-8136	440	26	-	-	PUNCT
ajfa-8136	440	27	moment	moment	NOUN
ajfa-8136	440	28	capm	capm	PROPN
ajfa-8136	440	29	paradigm.journal	paradigm.journal	PROPN
ajfa-8136	440	30	of	of	ADP
ajfa-8136	440	31	financial	financial	ADJ
ajfa-8136	440	32	research	research	NOUN
ajfa-8136	440	33	,	,	PUNCT
ajfa-8136	440	34	30	30	NUM
ajfa-8136	440	35	,	,	PUNCT
ajfa-8136	440	36	379	379	NUM
ajfa-8136	440	37	-	-	SYM
ajfa-8136	440	38	398	398	NUM
ajfa-8136	440	39	.	.	PUNCT
ajfa-8136	441	1	http://dx.doi.org/	http://dx.doi.org/	PROPN
ajfa-8136	441	2	10.1111	10.1111	NUM
ajfa-8136	441	3	/	/	SYM
ajfa-8136	441	4	j.1475	j.1475	PROPN
ajfa-8136	441	5	-	-	PUNCT
ajfa-8136	441	6	6803.2007.00219.x	6803.2007.00219.x	NUM
ajfa-8136	441	7	martinez	martinez	PROPN
ajfa-8136	441	8	,	,	PUNCT
ajfa-8136	441	9	m.	m.	NOUN
ajfa-8136	441	10	a.	a.	PROPN
ajfa-8136	441	11	,	,	PUNCT
ajfa-8136	441	12	nieto	nieto	PROPN
ajfa-8136	441	13	,	,	PUNCT
ajfa-8136	441	14	b.	b.	PROPN
ajfa-8136	441	15	,	,	PUNCT
ajfa-8136	441	16	rubio	rubio	PROPN
ajfa-8136	441	17	,	,	PUNCT
ajfa-8136	441	18	g.	g.	PROPN
ajfa-8136	441	19	,	,	PUNCT
ajfa-8136	441	20	and	and	CCONJ
ajfa-8136	441	21	tapia	tapia	PROPN
ajfa-8136	441	22	,	,	PUNCT
ajfa-8136	441	23	m.	m.	NOUN
ajfa-8136	441	24	(	(	PUNCT
ajfa-8136	441	25	2005	2005	NUM
ajfa-8136	441	26	)	)	PUNCT
ajfa-8136	441	27	.	.	PUNCT
ajfa-8136	442	1	asset	asset	NOUN
ajfa-8136	442	2	pricing	pricing	NOUN
ajfa-8136	442	3	and	and	CCONJ
ajfa-8136	442	4	systematic	systematic	ADJ
ajfa-8136	442	5	liquidity	liquidity	NOUN
ajfa-8136	442	6	risk	risk	NOUN
ajfa-8136	442	7	:	:	PUNCT
ajfa-8136	442	8	an	an	DET
ajfa-8136	442	9	empirical	empirical	ADJ
ajfa-8136	442	10	investigation	investigation	NOUN
ajfa-8136	442	11	of	of	ADP
ajfa-8136	442	12	the	the	DET
ajfa-8136	442	13	spanish	spanish	ADJ
ajfa-8136	442	14	stock	stock	NOUN
ajfa-8136	442	15	market	market	NOUN
ajfa-8136	442	16	.	.	PUNCT
ajfa-8136	443	1	international	international	ADJ
ajfa-8136	443	2	review	review	NOUN
ajfa-8136	443	3	of	of	ADP
ajfa-8136	443	4	economics	economic	NOUN
ajfa-8136	443	5	and	and	CCONJ
ajfa-8136	443	6	finance	finance	NOUN
ajfa-8136	443	7	,	,	PUNCT
ajfa-8136	443	8	14	14	NUM
ajfa-8136	443	9	,	,	PUNCT
ajfa-8136	443	10	81–103	81–103	NUM
ajfa-8136	443	11	.	.	PUNCT
ajfa-8136	443	12	http://dx.doi.org/10.1016/j.iref.2003.12.001	http://dx.doi.org/10.1016/j.iref.2003.12.001	PROPN
ajfa-8136	443	13	mianbi	mianbi	NOUN
ajfa-8136	443	14	,	,	PUNCT
ajfa-8136	443	15	x.	x.	NOUN
ajfa-8136	443	16	and	and	CCONJ
ajfa-8136	443	17	langnan	langnan	PROPN
ajfa-8136	443	18	,	,	PUNCT
ajfa-8136	443	19	c.	c.	PROPN
ajfa-8136	443	20	(	(	PUNCT
ajfa-8136	443	21	2007).the	2007).the	NUM
ajfa-8136	443	22	comparison	comparison	NOUN
ajfa-8136	443	23	investigation	investigation	NOUN
ajfa-8136	443	24	on	on	ADP
ajfa-8136	443	25	low	low	ADJ
ajfa-8136	443	26	-	-	PUNCT
ajfa-8136	443	27	frequency	frequency	NOUN
ajfa-8136	443	28	measures	measure	NOUN
ajfa-8136	443	29	of	of	ADP
ajfa-8136	443	30	liquidity	liquidity	NOUN
ajfa-8136	443	31	.	.	PUNCT
ajfa-8136	444	1	available	available	ADJ
ajfa-8136	444	2	at	at	ADP
ajfa-8136	444	3	:	:	PUNCT
ajfa-8136	444	4	http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=4340767	http://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=4340767	PROPN
ajfa-8136	444	5	.	.	PUNCT
ajfa-8136	445	1	næs	næs	PROPN
ajfa-8136	445	2	,	,	PUNCT
ajfa-8136	445	3	r.	r.	PROPN
ajfa-8136	445	4	(	(	PUNCT
ajfa-8136	445	5	2004	2004	NUM
ajfa-8136	445	6	)	)	PUNCT
ajfa-8136	445	7	.	.	PUNCT
ajfa-8136	446	1	ownership	ownership	NOUN
ajfa-8136	446	2	structure	structure	NOUN
ajfa-8136	446	3	and	and	CCONJ
ajfa-8136	446	4	stock	stock	NOUN
ajfa-8136	446	5	market	market	NOUN
ajfa-8136	446	6	liquidity.working	liquidity.worke	VERB
ajfa-8136	446	7	papers	paper	NOUN
ajfa-8136	446	8	from	from	ADP
ajfa-8136	446	9	norges	norge	NOUN
ajfa-8136	446	10	bank	bank	NOUN
ajfa-8136	446	11	,	,	PUNCT
ajfa-8136	446	12	ano	ano	PROPN
ajfa-8136	446	13	2004/6	2004/6	NUM
ajfa-8136	446	14	.	.	PUNCT
ajfa-8136	447	1	o’hara	o’hara	NOUN
ajfa-8136	447	2	,	,	PUNCT
ajfa-8136	447	3	m.	m.	NOUN
ajfa-8136	447	4	(	(	PUNCT
ajfa-8136	447	5	1995	1995	NUM
ajfa-8136	447	6	)	)	PUNCT
ajfa-8136	447	7	.	.	PUNCT
ajfa-8136	448	1	market	market	NOUN
ajfa-8136	448	2	microstructure	microstructure	NOUN
ajfa-8136	448	3	theory	theory	NOUN
ajfa-8136	448	4	,	,	PUNCT
ajfa-8136	448	5	basil	basil	NOUN
ajfa-8136	448	6	blackwell	blackwell	PROPN
ajfa-8136	448	7	,	,	PUNCT
ajfa-8136	448	8	cambridge	cambridge	PROPN
ajfa-8136	448	9	,	,	PUNCT
ajfa-8136	448	10	ma	ma	PROPN
ajfa-8136	448	11	.	.	PROPN
ajfa-8136	448	12	o’hara	o’hara	PROPN
ajfa-8136	448	13	,	,	PUNCT
ajfa-8136	448	14	m.	m.	NOUN
ajfa-8136	448	15	(	(	PUNCT
ajfa-8136	448	16	2004	2004	NUM
ajfa-8136	448	17	)	)	PUNCT
ajfa-8136	448	18	.	.	PUNCT
ajfa-8136	449	1	liquidity	liquidity	NOUN
ajfa-8136	449	2	and	and	CCONJ
ajfa-8136	449	3	financial	financial	ADJ
ajfa-8136	449	4	market	market	NOUN
ajfa-8136	449	5	stability	stability	NOUN
ajfa-8136	449	6	,	,	PUNCT
ajfa-8136	449	7	national	national	PROPN
ajfa-8136	449	8	bank	bank	PROPN
ajfa-8136	449	9	of	of	ADP
ajfa-8136	449	10	belgium	belgium	PROPN
ajfa-8136	449	11	,	,	PUNCT
ajfa-8136	449	12	working	work	VERB
ajfa-8136	449	13	paper	paper	NOUN
ajfa-8136	449	14	55	55	NUM
ajfa-8136	449	15	pastor	pastor	NOUN
ajfa-8136	449	16	,	,	PUNCT
ajfa-8136	449	17	l.	l.	PROPN
ajfa-8136	449	18	and	and	CCONJ
ajfa-8136	449	19	stambaugh	stambaugh	PROPN
ajfa-8136	449	20	,	,	PUNCT
ajfa-8136	449	21	r.f	r.f	PROPN
ajfa-8136	449	22	.	.	PROPN
ajfa-8136	449	23	(	(	PUNCT
ajfa-8136	449	24	2003	2003	NUM
ajfa-8136	449	25	)	)	PUNCT
ajfa-8136	449	26	.	.	PUNCT
ajfa-8136	450	1	liquidity	liquidity	NOUN
ajfa-8136	450	2	risk	risk	NOUN
ajfa-8136	450	3	and	and	CCONJ
ajfa-8136	450	4	expected	expect	VERB
ajfa-8136	450	5	stock	stock	NOUN
ajfa-8136	450	6	returns	return	NOUN
ajfa-8136	450	7	.	.	PUNCT
ajfa-8136	451	1	journal	journal	NOUN
ajfa-8136	451	2	of	of	ADP
ajfa-8136	451	3	political	political	ADJ
ajfa-8136	451	4	economy	economy	NOUN
ajfa-8136	451	5	,	,	PUNCT
ajfa-8136	451	6	v111	v111	PROPN
ajfa-8136	451	7	,	,	PUNCT
ajfa-8136	451	8	642	642	NUM
ajfa-8136	451	9	-	-	SYM
ajfa-8136	451	10	685	685	NUM
ajfa-8136	451	11	.	.	PUNCT
ajfa-8136	452	1	http://dx.doi.org/10.1086/374184	http://dx.doi.org/10.1086/374184	NOUN
ajfa-8136	452	2	asian	asian	PROPN
ajfa-8136	452	3	journal	journal	PROPN
ajfa-8136	452	4	of	of	ADP
ajfa-8136	452	5	finance	finance	PROPN
ajfa-8136	452	6	&	&	CCONJ
ajfa-8136	452	7	accounting	accounting	PROPN
ajfa-8136	452	8	issn	issn	PROPN
ajfa-8136	452	9	1946	1946	NUM
ajfa-8136	452	10	-	-	PUNCT
ajfa-8136	452	11	052x	052x	NOUN
ajfa-8136	452	12	2015	2015	NUM
ajfa-8136	452	13	,	,	PUNCT
ajfa-8136	452	14	vol	vol	NOUN
ajfa-8136	452	15	.	.	PROPN
ajfa-8136	452	16	7	7	NUM
ajfa-8136	452	17	,	,	PUNCT
ajfa-8136	452	18	no	no	INTJ
ajfa-8136	452	19	.	.	NOUN
ajfa-8136	452	20	2	2	NUM
ajfa-8136	452	21	54	54	NUM
ajfa-8136	452	22	peter	peter	PROPN
ajfa-8136	452	23	,	,	PUNCT
ajfa-8136	452	24	g.	g.	PROPN
ajfa-8136	452	25	,	,	PUNCT
ajfa-8136	452	26	amador	amador	PROPN
ajfa-8136	452	27	,	,	PUNCT
ajfa-8136	452	28	o.f	o.f	PROPN
ajfa-8136	452	29	.	.	PROPN
ajfa-8136	452	30	,	,	PUNCT
ajfa-8136	452	31	gächter	gächter	NOUN
ajfa-8136	452	32	,	,	PUNCT
ajfa-8136	452	33	m.	m.	NOUN
ajfa-8136	452	34	,	,	PUNCT
ajfa-8136	452	35	larch	larch	NOUN
ajfa-8136	452	36	,	,	PUNCT
ajfa-8136	452	37	m.	m.	NOUN
ajfa-8136	452	38	(	(	PUNCT
ajfa-8136	452	39	2013	2013	NUM
ajfa-8136	452	40	)	)	PUNCT
ajfa-8136	452	41	.	.	PUNCT
ajfa-8136	453	1	does	do	AUX
ajfa-8136	453	2	monetary	monetary	ADJ
ajfa-8136	453	3	policy	policy	NOUN
ajfa-8136	453	4	determine	determine	VERB
ajfa-8136	453	5	stock	stock	NOUN
ajfa-8136	453	6	market	market	NOUN
ajfa-8136	453	7	liquidity	liquidity	NOUN
ajfa-8136	453	8	?	?	PUNCT
ajfa-8136	454	1	new	new	ADJ
ajfa-8136	454	2	evidence	evidence	NOUN
ajfa-8136	454	3	from	from	ADP
ajfa-8136	454	4	the	the	DET
ajfa-8136	454	5	euro	euro	NOUN
ajfa-8136	454	6	zone	zone	NOUN
ajfa-8136	454	7	.	.	PUNCT
ajfa-8136	455	1	journalof	journalof	ADJ
ajfa-8136	455	2	empirical	empirical	ADJ
ajfa-8136	455	3	finance	finance	NOUN
ajfa-8136	455	4	,	,	PUNCT
ajfa-8136	455	5	21	21	NUM
ajfa-8136	455	6	,	,	PUNCT
ajfa-8136	455	7	54–68	54–68	PROPN
ajfa-8136	455	8	.	.	PUNCT
ajfa-8136	456	1	http://dx.doi.org/10.1016/j.jempfin.2012.12.008	http://dx.doi.org/10.1016/j.jempfin.2012.12.008	PROPN
ajfa-8136	456	2	petkova	petkova	PROPN
ajfa-8136	456	3	,	,	PUNCT
ajfa-8136	456	4	r.	r.	PROPN
ajfa-8136	456	5	,	,	PUNCT
ajfa-8136	456	6	akbas	akbas	PROPN
ajfa-8136	456	7	f.	f.	PROPN
ajfa-8136	456	8	,	,	PUNCT
ajfa-8136	456	9	armstrong	armstrong	PROPN
ajfa-8136	456	10	,	,	PUNCT
ajfa-8136	456	11	w.j	w.j	PROPN
ajfa-8136	456	12	.	.	PROPN
ajfa-8136	457	1	(	(	PUNCT
ajfa-8136	457	2	2011).idiosyncratic	2011).idiosyncratic	NUM
ajfa-8136	457	3	volatility	volatility	NOUN
ajfa-8136	457	4	of	of	ADP
ajfa-8136	457	5	liquidity	liquidity	NOUN
ajfa-8136	457	6	and	and	CCONJ
ajfa-8136	457	7	expected	expect	VERB
ajfa-8136	457	8	stock	stock	NOUN
ajfa-8136	457	9	returns	return	NOUN
ajfa-8136	457	10	.	.	PUNCT
ajfa-8136	458	1	available	available	ADJ
ajfa-8136	458	2	at	at	ADP
ajfa-8136	458	3	:	:	PUNCT
ajfa-8136	458	4	https://www.bus.miami.edu/_assets/files/faculty-and-research/conferences-and-seminars/fina	https://www.bus.miami.edu/_assets/files/faculty-and-research/conferences-and-seminars/fina	PROPN
ajfa-8136	458	5	nce	nce	NOUN
ajfa-8136	458	6	-	-	PUNCT
ajfa-8136	458	7	seminars	seminar	NOUN
ajfa-8136	458	8	/	/	SYM
ajfa-8136	458	9	petkova%20paper.pdf	petkova%20paper.pdf	PROPN
ajfa-8136	458	10	pukthuanthong	pukthuanthong	NOUN
ajfa-8136	458	11	-	-	PUNCT
ajfa-8136	458	12	le	le	X
ajfa-8136	458	13	,	,	PUNCT
ajfa-8136	458	14	k.	k.	PROPN
ajfa-8136	458	15	and	and	CCONJ
ajfa-8136	458	16	visaltanachoti	visaltanachoti	PROPN
ajfa-8136	458	17	,	,	PUNCT
ajfa-8136	458	18	n.	n.	PROPN
ajfa-8136	458	19	(	(	PUNCT
ajfa-8136	458	20	2009	2009	NUM
ajfa-8136	458	21	)	)	PUNCT
ajfa-8136	458	22	.	.	PUNCT
ajfa-8136	459	1	commonality	commonality	NOUN
ajfa-8136	459	2	in	in	ADP
ajfa-8136	459	3	liquidity	liquidity	NOUN
ajfa-8136	459	4	:	:	PUNCT
ajfa-8136	459	5	evidence	evidence	NOUN
ajfa-8136	459	6	from	from	ADP
ajfa-8136	459	7	the	the	DET
ajfa-8136	459	8	stock	stock	NOUN
ajfa-8136	459	9	exchange	exchange	NOUN
ajfa-8136	459	10	of	of	ADP
ajfa-8136	459	11	thailand	thailand	PROPN
ajfa-8136	459	12	.	.	PUNCT
ajfa-8136	460	1	pacific	pacific	ADJ
ajfa-8136	460	2	-	-	PUNCT
ajfa-8136	460	3	basin	basin	NOUN
ajfa-8136	460	4	finance	finance	NOUN
ajfa-8136	460	5	journal	journal	NOUN
ajfa-8136	460	6	,	,	PUNCT
ajfa-8136	460	7	17	17	NUM
ajfa-8136	460	8	,	,	PUNCT
ajfa-8136	460	9	80–99	80–99	NUM
ajfa-8136	460	10	.	.	PUNCT
ajfa-8136	461	1	http://dx.doi.org/10.1016/j.pacfin.2007.12.004	http://dx.doi.org/10.1016/j.pacfin.2007.12.004	NUM
ajfa-8136	461	2	roll	roll	NOUN
ajfa-8136	461	3	,	,	PUNCT
ajfa-8136	461	4	r.	r.	PROPN
ajfa-8136	461	5	(	(	PUNCT
ajfa-8136	461	6	1984	1984	NUM
ajfa-8136	461	7	)	)	PUNCT
ajfa-8136	461	8	.	.	PUNCT
ajfa-8136	462	1	a	a	DET
ajfa-8136	462	2	simple	simple	ADJ
ajfa-8136	462	3	implicit	implicit	ADJ
ajfa-8136	462	4	measure	measure	NOUN
ajfa-8136	462	5	of	of	ADP
ajfa-8136	462	6	the	the	DET
ajfa-8136	462	7	effective	effective	ADJ
ajfa-8136	462	8	bid	bid	NOUN
ajfa-8136	462	9	–	–	PUNCT
ajfa-8136	462	10	ask	ask	NOUN
ajfa-8136	462	11	spread	spread	NOUN
ajfa-8136	462	12	in	in	ADP
ajfa-8136	462	13	an	an	DET
ajfa-8136	462	14	efficient	efficient	ADJ
ajfa-8136	462	15	market	market	NOUN
ajfa-8136	462	16	.	.	PUNCT
ajfa-8136	463	1	journal	journal	PROPN
ajfa-8136	463	2	of	of	ADP
ajfa-8136	463	3	finance	finance	NOUN
ajfa-8136	463	4	,	,	PUNCT
ajfa-8136	463	5	39	39	NUM
ajfa-8136	463	6	,	,	PUNCT
ajfa-8136	463	7	1127–1139	1127–1139	NUM
ajfa-8136	463	8	.	.	PUNCT
ajfa-8136	464	1	rubio	rubio	PROPN
ajfa-8136	464	2	,	,	PUNCT
ajfa-8136	464	3	g.	g.	PROPN
ajfa-8136	464	4	,	,	PUNCT
ajfa-8136	464	5	martinez	martinez	PROPN
ajfa-8136	464	6	,	,	PUNCT
ajfa-8136	464	7	m.a	m.a	PROPN
ajfa-8136	464	8	.	.	PROPN
ajfa-8136	464	9	,	,	PUNCT
ajfa-8136	464	10	nieto	nieto	PROPN
ajfa-8136	464	11	b.	b.	PROPN
ajfa-8136	464	12	and	and	CCONJ
ajfa-8136	464	13	tapia	tapia	PROPN
ajfa-8136	464	14	,	,	PUNCT
ajfa-8136	464	15	m.	m.	NOUN
ajfa-8136	464	16	(	(	PUNCT
ajfa-8136	464	17	2005	2005	NUM
ajfa-8136	464	18	)	)	PUNCT
ajfa-8136	464	19	.	.	PUNCT
ajfa-8136	465	1	asset	asset	NOUN
ajfa-8136	465	2	pricing	pricing	NOUN
ajfa-8136	465	3	and	and	CCONJ
ajfa-8136	465	4	systematic	systematic	ADJ
ajfa-8136	465	5	liquidity	liquidity	NOUN
ajfa-8136	465	6	risk	risk	NOUN
ajfa-8136	465	7	:	:	PUNCT
ajfa-8136	465	8	an	an	DET
ajfa-8136	465	9	empirical	empirical	ADJ
ajfa-8136	465	10	investigation	investigation	NOUN
ajfa-8136	465	11	of	of	ADP
ajfa-8136	465	12	the	the	DET
ajfa-8136	465	13	spanish	spanish	ADJ
ajfa-8136	465	14	stock	stock	NOUN
ajfa-8136	465	15	market	market	NOUN
ajfa-8136	465	16	.	.	PUNCT
ajfa-8136	466	1	international	international	ADJ
ajfa-8136	466	2	review	review	NOUN
ajfa-8136	466	3	of	of	ADP
ajfa-8136	466	4	economics	economic	NOUN
ajfa-8136	466	5	and	and	CCONJ
ajfa-8136	466	6	finance	finance	NOUN
ajfa-8136	466	7	,	,	PUNCT
ajfa-8136	466	8	14	14	NUM
ajfa-8136	466	9	,	,	PUNCT
ajfa-8136	466	10	81103.http://dx.doi.org/10.1016/j.iref.2003.12.001	81103.http://dx.doi.org/10.1016/j.iref.2003.12.001	PROPN
ajfa-8136	466	11	sarr	sarr	PROPN
ajfa-8136	466	12	,	,	PUNCT
ajfa-8136	466	13	a.	a.	NOUN
ajfa-8136	466	14	and	and	CCONJ
ajfa-8136	466	15	lybek	lybek	NOUN
ajfa-8136	466	16	,	,	PUNCT
ajfa-8136	466	17	t.	t.	PROPN
ajfa-8136	466	18	(	(	PUNCT
ajfa-8136	466	19	2002).measuring	2002).measuring	NUM
ajfa-8136	466	20	liquidity	liquidity	NOUN
ajfa-8136	466	21	in	in	ADP
ajfa-8136	466	22	financial	financial	ADJ
ajfa-8136	466	23	markets.imf	markets.imf	NOUN
ajfa-8136	466	24	working	working	NOUN
ajfa-8136	466	25	paper	paper	NOUN
ajfa-8136	466	26	,	,	PUNCT
ajfa-8136	466	27	wp/02/232	wp/02/232	PROPN
ajfa-8136	466	28	,	,	PUNCT
ajfa-8136	466	29	december	december	PROPN
ajfa-8136	466	30	.	.	PUNCT
ajfa-8136	467	1	sharma	sharma	PROPN
ajfa-8136	467	2	,	,	PUNCT
ajfa-8136	467	3	l.	l.	PROPN
ajfa-8136	467	4	(	(	PUNCT
ajfa-8136	467	5	2005).ownership	2005).ownership	NOUN
ajfa-8136	467	6	structure	structure	NOUN
ajfa-8136	467	7	and	and	CCONJ
ajfa-8136	467	8	stock	stock	NOUN
ajfa-8136	467	9	liquidity	liquidity	NOUN
ajfa-8136	467	10	–	–	PUNCT
ajfa-8136	467	11	evidence	evidence	NOUN
ajfa-8136	467	12	from	from	ADP
ajfa-8136	467	13	indian	indian	ADJ
ajfa-8136	467	14	market	market	NOUN
ajfa-8136	467	15	.	.	PUNCT
ajfa-8136	468	1	available	available	ADJ
ajfa-8136	468	2	at	at	ADP
ajfa-8136	468	3	:	:	PUNCT
ajfa-8136	468	4	http://www.nseindia.com/content/press/ls_mar2005.pdf	http://www.nseindia.com/content/press/ls_mar2005.pdf	PROPN
ajfa-8136	468	5	.	.	PUNCT
ajfa-8136	468	6	sioud	sioud	PROPN
ajfa-8136	468	7	,	,	PUNCT
ajfa-8136	468	8	o.b	o.b	PROPN
ajfa-8136	468	9	.	.	PROPN
ajfa-8136	468	10	,	,	PUNCT
ajfa-8136	468	11	hmaied	hmaie	VERB
ajfa-8136	468	12	,	,	PUNCT
ajfa-8136	468	13	d.m	d.m	PROPN
ajfa-8136	468	14	.	.	PROPN
ajfa-8136	468	15	and	and	CCONJ
ajfa-8136	468	16	grar	grar	NOUN
ajfa-8136	468	17	,	,	PUNCT
ajfa-8136	468	18	a.	a.	NOUN
ajfa-8136	468	19	(	(	PUNCT
ajfa-8136	468	20	2006	2006	NUM
ajfa-8136	468	21	)	)	PUNCT
ajfa-8136	468	22	.	.	PUNCT
ajfa-8136	469	1	dynamics	dynamic	NOUN
ajfa-8136	469	2	of	of	ADP
ajfa-8136	469	3	market	market	NOUN
ajfa-8136	469	4	liquidity	liquidity	NOUN
ajfa-8136	469	5	of	of	ADP
ajfa-8136	469	6	tunisian	tunisian	ADJ
ajfa-8136	469	7	stocks	stock	NOUN
ajfa-8136	469	8	:	:	PUNCT
ajfa-8136	469	9	an	an	DET
ajfa-8136	469	10	analysis	analysis	NOUN
ajfa-8136	469	11	of	of	ADP
ajfa-8136	469	12	market	market	NOUN
ajfa-8136	469	13	resiliency	resiliency	NOUN
ajfa-8136	469	14	.	.	PUNCT
ajfa-8136	470	1	electronic	electronic	ADJ
ajfa-8136	470	2	markets	market	NOUN
ajfa-8136	470	3	,	,	PUNCT
ajfa-8136	470	4	16(2	16(2	NUM
ajfa-8136	470	5	)	)	PUNCT
ajfa-8136	470	6	.	.	PUNCT
ajfa-8136	471	1	http://dx.doi.org/10.1080/10196780600643977	http://dx.doi.org/10.1080/10196780600643977	PROPN
ajfa-8136	471	2	söderberg	söderberg	PROPN
ajfa-8136	471	3	,	,	PUNCT
ajfa-8136	471	4	j.	j.	PROPN
ajfa-8136	471	5	(	(	PUNCT
ajfa-8136	471	6	2008	2008	NUM
ajfa-8136	471	7	)	)	PUNCT
ajfa-8136	471	8	.	.	PUNCT
ajfa-8136	472	1	do	do	AUX
ajfa-8136	472	2	macroeconomic	macroeconomic	ADJ
ajfa-8136	472	3	variables	variable	NOUN
ajfa-8136	472	4	forecast	forecast	VERB
ajfa-8136	472	5	changes	change	NOUN
ajfa-8136	472	6	in	in	ADP
ajfa-8136	472	7	liquidity	liquidity	NOUN
ajfa-8136	472	8	?	?	PUNCT
ajfa-8136	473	1	an	an	DET
ajfa-8136	473	2	out	out	ADV
ajfa-8136	473	3	-	-	PUNCT
ajfa-8136	473	4	of	of	ADP
ajfa-8136	473	5	-	-	PUNCT
ajfa-8136	473	6	sample	sample	NOUN
ajfa-8136	473	7	study	study	NOUN
ajfa-8136	473	8	on	on	ADP
ajfa-8136	473	9	the	the	DET
ajfa-8136	473	10	order	order	NOUN
ajfa-8136	473	11	-	-	PUNCT
ajfa-8136	473	12	driven	drive	VERB
ajfa-8136	473	13	stock	stock	NOUN
ajfa-8136	473	14	markets	market	NOUN
ajfa-8136	473	15	in	in	ADP
ajfa-8136	473	16	scandinavia	scandinavia	PROPN
ajfa-8136	473	17	.	.	PUNCT
ajfa-8136	474	1	conference	conference	NOUN
ajfa-8136	474	2	on	on	ADP
ajfa-8136	474	3	liquidity	liquidity	NOUN
ajfa-8136	474	4	:	:	PUNCT
ajfa-8136	474	5	concepts	concept	NOUN
ajfa-8136	474	6	and	and	CCONJ
ajfa-8136	474	7	risks	risk	NOUN
ajfa-8136	474	8	,	,	PUNCT
ajfa-8136	474	9	17	17	NUM
ajfa-8136	474	10	-	-	SYM
ajfa-8136	474	11	18	18	NUM
ajfa-8136	474	12	october	october	PROPN
ajfa-8136	474	13	,	,	PUNCT
ajfa-8136	474	14	2008	2008	NUM
ajfa-8136	474	15	.	.	PUNCT
ajfa-8136	475	1	spindt	spindt	PROPN
ajfa-8136	475	2	,	,	PUNCT
ajfa-8136	475	3	p.a	p.a	PROPN
ajfa-8136	475	4	.	.	PROPN
ajfa-8136	475	5	,	,	PUNCT
ajfa-8136	475	6	banerjee	banerjee	PROPN
ajfa-8136	475	7	,	,	PUNCT
ajfa-8136	475	8	s.	s.	PROPN
ajfa-8136	475	9	,	,	PUNCT
ajfa-8136	475	10	and	and	CCONJ
ajfa-8136	475	11	gatchev	gatchev	PROPN
ajfa-8136	475	12	,	,	PUNCT
ajfa-8136	475	13	v.a	v.a	PROPN
ajfa-8136	475	14	.	.	PROPN
ajfa-8136	475	15	(	(	PUNCT
ajfa-8136	475	16	2007).stock	2007).stock	NUM
ajfa-8136	475	17	market	market	NOUN
ajfa-8136	475	18	liquidity	liquidity	NOUN
ajfa-8136	475	19	and	and	CCONJ
ajfa-8136	475	20	firm	firm	ADJ
ajfa-8136	475	21	dividend	dividend	NOUN
ajfa-8136	475	22	policy.journal	policy.journal	PROPN
ajfa-8136	475	23	of	of	ADP
ajfa-8136	475	24	financial	financial	ADJ
ajfa-8136	475	25	and	and	CCONJ
ajfa-8136	475	26	quantitative	quantitative	ADJ
ajfa-8136	475	27	analysis	analysis	NOUN
ajfa-8136	475	28	,	,	PUNCT
ajfa-8136	475	29	42(2	42(2	NOUN
ajfa-8136	475	30	)	)	PUNCT
ajfa-8136	475	31	,	,	PUNCT
ajfa-8136	475	32	369–397	369–397	NUM
ajfa-8136	475	33	.	.	PUNCT
ajfa-8136	475	34	available	available	ADJ
ajfa-8136	475	35	at	at	ADP
ajfa-8136	475	36	:	:	PUNCT
ajfa-8136	475	37	http://www.jstor.org/stable/27647301	http://www.jstor.org/stable/27647301	NOUN
ajfa-8136	475	38	sum	sum	NOUN
ajfa-8136	475	39	(	(	PUNCT
ajfa-8136	475	40	2014	2014	NUM
ajfa-8136	475	41	)	)	PUNCT
ajfa-8136	475	42	.	.	PUNCT
ajfa-8136	476	1	stock	stock	NOUN
ajfa-8136	476	2	market	market	NOUN
ajfa-8136	476	3	returns	return	NOUN
ajfa-8136	476	4	and	and	CCONJ
ajfa-8136	476	5	liquidity	liquidity	NOUN
ajfa-8136	476	6	:	:	PUNCT
ajfa-8136	476	7	dynamic	dynamic	ADJ
ajfa-8136	476	8	relationships	relationship	NOUN
ajfa-8136	476	9	and	and	CCONJ
ajfa-8136	476	10	causality	causality	NOUN
ajfa-8136	476	11	.	.	PUNCT
ajfa-8136	477	1	journal	journal	PROPN
ajfa-8136	477	2	of	of	ADP
ajfa-8136	477	3	trading	trading	NOUN
ajfa-8136	477	4	,	,	PUNCT
ajfa-8136	477	5	9(1	9(1	NUM
ajfa-8136	477	6	)	)	PUNCT
ajfa-8136	477	7	,	,	PUNCT
ajfa-8136	477	8	34	34	NUM
ajfa-8136	477	9	-	-	SYM
ajfa-8136	477	10	40	40	NUM
ajfa-8136	477	11	.	.	PUNCT
ajfa-8136	478	1	http://dx.doi.org/10.2139/ssrn.2177332	http://dx.doi.org/10.2139/ssrn.2177332	PROPN
ajfa-8136	478	2	tissaoui	tissaoui	PROPN
ajfa-8136	478	3	,	,	PUNCT
ajfa-8136	478	4	k.	k.	PROPN
ajfa-8136	478	5	(	(	PUNCT
ajfa-8136	478	6	2012	2012	NUM
ajfa-8136	478	7	)	)	PUNCT
ajfa-8136	478	8	.	.	PUNCT
ajfa-8136	479	1	the	the	DET
ajfa-8136	479	2	intraday	intraday	NOUN
ajfa-8136	479	3	pattern	pattern	NOUN
ajfa-8136	479	4	of	of	ADP
ajfa-8136	479	5	trading	trading	NOUN
ajfa-8136	479	6	activity	activity	NOUN
ajfa-8136	479	7	,	,	PUNCT
ajfa-8136	479	8	return	return	VERB
ajfa-8136	479	9	volatility	volatility	NOUN
ajfa-8136	479	10	and	and	CCONJ
ajfa-8136	479	11	liquidity	liquidity	NOUN
ajfa-8136	479	12	:	:	PUNCT
ajfa-8136	479	13	evidence	evidence	NOUN
ajfa-8136	479	14	from	from	ADP
ajfa-8136	479	15	the	the	DET
ajfa-8136	479	16	emerging	emerge	VERB
ajfa-8136	479	17	tunisian	tunisian	ADJ
ajfa-8136	479	18	stock	stock	NOUN
ajfa-8136	479	19	exchange	exchange	PROPN
ajfa-8136	479	20	.	.	PUNCT
ajfa-8136	480	1	international	international	ADJ
ajfa-8136	480	2	journal	journal	PROPN
ajfa-8136	480	3	of	of	ADP
ajfa-8136	480	4	economics	economic	NOUN
ajfa-8136	480	5	and	and	CCONJ
ajfa-8136	480	6	finance	finance	NOUN
ajfa-8136	480	7	,	,	PUNCT
ajfa-8136	480	8	4(5	4(5	PROPN
ajfa-8136	480	9	)	)	PUNCT
ajfa-8136	480	10	.	.	PUNCT
ajfa-8136	481	1	http://dx.doi.org/10.5539/ijef.v4n5p156	http://dx.doi.org/10.5539/ijef.v4n5p156	PROPN
ajfa-8136	481	2	trzcinka	trzcinka	NOUN
ajfa-8136	481	3	,	,	PUNCT
ajfa-8136	481	4	c.a	c.a	PROPN
ajfa-8136	481	5	.	.	PROPN
ajfa-8136	481	6	,	,	PUNCT
ajfa-8136	481	7	goyenko	goyenko	PROPN
ajfa-8136	481	8	,	,	PUNCT
ajfa-8136	481	9	r.y	r.y	PROPN
ajfa-8136	481	10	.	.	PROPN
ajfa-8136	481	11	,	,	PUNCT
ajfa-8136	481	12	holden	holden	PROPN
ajfa-8136	481	13	,	,	PUNCT
ajfa-8136	481	14	c.w	c.w	PROPN
ajfa-8136	481	15	.	.	PROPN
ajfa-8136	481	16	(	(	PUNCT
ajfa-8136	481	17	2009	2009	NUM
ajfa-8136	481	18	)	)	PUNCT
ajfa-8136	481	19	.	.	PUNCT
ajfa-8136	482	1	do	do	AUX
ajfa-8136	482	2	liquidity	liquidity	NOUN
ajfa-8136	482	3	measures	measure	NOUN
ajfa-8136	482	4	measure	measure	VERB
ajfa-8136	482	5	liquidity	liquidity	NOUN
ajfa-8136	482	6	?	?	PUNCT
ajfa-8136	483	1	journal	journal	NOUN
ajfa-8136	483	2	of	of	ADP
ajfa-8136	483	3	financial	financial	ADJ
ajfa-8136	483	4	economics	economic	NOUN
ajfa-8136	483	5	,	,	PUNCT
ajfa-8136	483	6	92	92	NUM
ajfa-8136	483	7	,	,	PUNCT
ajfa-8136	483	8	153–181	153–181	NUM
ajfa-8136	483	9	.	.	PUNCT
ajfa-8136	484	1	http://dx.doi.org/10.1016/j.jfineco.2008.06.002	http://dx.doi.org/10.1016/j.jfineco.2008.06.002	NOUN
ajfa-8136	484	2	asian	asian	ADJ
ajfa-8136	484	3	journal	journal	NOUN
ajfa-8136	484	4	of	of	ADP
ajfa-8136	484	5	finance	finance	PROPN
ajfa-8136	484	6	&	&	CCONJ
ajfa-8136	484	7	accounting	accounting	PROPN
ajfa-8136	484	8	issn	issn	PROPN
ajfa-8136	484	9	1946	1946	NUM
ajfa-8136	484	10	-	-	PUNCT
ajfa-8136	484	11	052x	052x	NOUN
ajfa-8136	484	12	2015	2015	NUM
ajfa-8136	484	13	,	,	PUNCT
ajfa-8136	484	14	vol	vol	NOUN
ajfa-8136	484	15	.	.	PROPN
ajfa-8136	484	16	7	7	NUM
ajfa-8136	484	17	,	,	PUNCT
ajfa-8136	484	18	no	no	INTJ
ajfa-8136	484	19	.	.	NOUN
ajfa-8136	484	20	2	2	NUM
ajfa-8136	484	21	55	55	NUM
ajfa-8136	484	22	trzcinka	trzcinka	NOUN
ajfa-8136	484	23	,	,	PUNCT
ajfa-8136	484	24	c.a	c.a	PROPN
ajfa-8136	484	25	.	.	PROPN
ajfa-8136	484	26	,	,	PUNCT
ajfa-8136	484	27	goyenko	goyenko	PROPN
ajfa-8136	484	28	,	,	PUNCT
ajfa-8136	484	29	r.y	r.y	PROPN
ajfa-8136	484	30	.	.	PROPN
ajfa-8136	484	31	,	,	PUNCT
ajfa-8136	484	32	holden	holden	PROPN
ajfa-8136	484	33	,	,	PUNCT
ajfa-8136	484	34	c.w	c.w	PROPN
ajfa-8136	484	35	.	.	PROPN
ajfa-8136	484	36	,	,	PUNCT
ajfa-8136	484	37	lundblad	lundblad	NOUN
ajfa-8136	484	38	,	,	PUNCT
ajfa-8136	484	39	c.t	c.t	PROPN
ajfa-8136	484	40	.	.	PROPN
ajfa-8136	485	1	(	(	PUNCT
ajfa-8136	485	2	2009).horse	2009).horse	NUM
ajfa-8136	485	3	races	race	NOUN
ajfa-8136	485	4	of	of	ADP
ajfa-8136	485	5	monthly	monthly	ADJ
ajfa-8136	485	6	and	and	CCONJ
ajfa-8136	485	7	annual	annual	ADJ
ajfa-8136	485	8	liquidity	liquidity	NOUN
ajfa-8136	485	9	measures	measure	NOUN
ajfa-8136	485	10	.	.	PUNCT
ajfa-8136	486	1	available	available	ADJ
ajfa-8136	486	2	at	at	ADP
ajfa-8136	486	3	:	:	PUNCT
ajfa-8136	486	4	http://public.kenan-flagler.unc.edu/faculty/lundblac/liquidity_ghlt.pdf	http://public.kenan-flagler.unc.edu/faculty/lundblac/liquidity_ghlt.pdf	NOUN
ajfa-8136	486	5	trzcinka	trzcinka	PROPN
ajfa-8136	486	6	,	,	PUNCT
ajfa-8136	486	7	c.a	c.a	PROPN
ajfa-8136	486	8	.	.	PROPN
ajfa-8136	486	9	,	,	PUNCT
ajfa-8136	486	10	fong	fong	PROPN
ajfa-8136	486	11	,	,	PUNCT
ajfa-8136	486	12	k.	k.	PROPN
ajfa-8136	486	13	,	,	PUNCT
ajfa-8136	486	14	holden	holden	PROPN
ajfa-8136	486	15	,	,	PUNCT
ajfa-8136	486	16	c.w	c.w	PROPN
ajfa-8136	486	17	.	.	PROPN
ajfa-8136	486	18	(	(	PUNCT
ajfa-8136	486	19	2011	2011	NUM
ajfa-8136	486	20	)	)	PUNCT
ajfa-8136	486	21	.	.	PUNCT
ajfa-8136	487	1	what	what	PRON
ajfa-8136	487	2	are	be	AUX
ajfa-8136	487	3	the	the	DET
ajfa-8136	487	4	best	good	ADJ
ajfa-8136	487	5	liquidity	liquidity	NOUN
ajfa-8136	487	6	proxies	proxy	NOUN
ajfa-8136	487	7	for	for	ADP
ajfa-8136	487	8	global	global	ADJ
ajfa-8136	487	9	research	research	NOUN
ajfa-8136	487	10	?	?	PUNCT
ajfa-8136	488	1	available	available	ADJ
ajfa-8136	488	2	at	at	ADP
ajfa-8136	488	3	:	:	PUNCT
ajfa-8136	488	4	http://kelley.iu.edu/cholden/best%20liquidity%20proxies%202011-07-01.pdf	http://kelley.iu.edu/cholden/best%20liquidity%20proxies%202011-07-01.pdf	NOUN
ajfa-8136	488	5	uddin	uddin	PROPN
ajfa-8136	488	6	,	,	PUNCT
ajfa-8136	488	7	h.	h.	PROPN
ajfa-8136	488	8	(	(	PUNCT
ajfa-8136	488	9	2009	2009	NUM
ajfa-8136	488	10	)	)	PUNCT
ajfa-8136	488	11	.	.	PUNCT
ajfa-8136	489	1	reexamination	reexamination	NOUN
ajfa-8136	489	2	of	of	ADP
ajfa-8136	489	3	stock	stock	NOUN
ajfa-8136	489	4	liquidity	liquidity	NOUN
ajfa-8136	489	5	risk	risk	NOUN
ajfa-8136	489	6	with	with	ADP
ajfa-8136	489	7	a	a	DET
ajfa-8136	489	8	relative	relative	ADJ
ajfa-8136	489	9	measure	measure	NOUN
ajfa-8136	489	10	.	.	PUNCT
ajfa-8136	490	1	studies	study	NOUN
ajfa-8136	490	2	in	in	ADP
ajfa-8136	490	3	economics	economic	NOUN
ajfa-8136	490	4	and	and	CCONJ
ajfa-8136	490	5	finance	finance	NOUN
ajfa-8136	490	6	,	,	PUNCT
ajfa-8136	490	7	26(1	26(1	NUM
ajfa-8136	490	8	)	)	PUNCT
ajfa-8136	490	9	,	,	PUNCT
ajfa-8136	490	10	24-35.http://dx.doi.org/10.1108/10867370910946306	24-35.http://dx.doi.org/10.1108/10867370910946306	NUM
ajfa-8136	490	11	vu	vu	PROPN
ajfa-8136	490	12	,	,	PUNCT
ajfa-8136	490	13	v.	v.	ADV
ajfa-8136	490	14	,	,	PUNCT
ajfa-8136	490	15	chai	chai	NOUN
ajfa-8136	490	16	,	,	PUNCT
ajfa-8136	490	17	d.	d.	PROPN
ajfa-8136	490	18	and	and	CCONJ
ajfa-8136	490	19	do	do	VERB
ajfa-8136	490	20	,	,	PUNCT
ajfa-8136	490	21	v.	v.	ADP
ajfa-8136	490	22	(	(	PUNCT
ajfa-8136	490	23	2014).empirical	2014).empirical	NUM
ajfa-8136	490	24	test	test	NOUN
ajfa-8136	490	25	on	on	ADP
ajfa-8136	490	26	the	the	DET
ajfa-8136	490	27	liquidity	liquidity	NOUN
ajfa-8136	490	28	-	-	PUNCT
ajfa-8136	490	29	adjusted	adjust	VERB
ajfa-8136	490	30	capital	capital	NOUN
ajfa-8136	490	31	asset	asset	NOUN
ajfa-8136	490	32	pricing	pricing	NOUN
ajfa-8136	490	33	model	model	NOUN
ajfa-8136	490	34	.	.	PUNCT
ajfa-8136	490	35	available	available	ADJ
ajfa-8136	490	36	at	at	ADP
ajfa-8136	490	37	:	:	PUNCT
ajfa-8136	490	38	http://ssrn.com/abstract=2388035	http://ssrn.com/abstract=2388035	PROPN
ajfa-8136	490	39	.	.	PROPN
ajfa-8136	490	40	wang	wang	PROPN
ajfa-8136	490	41	,	,	PUNCT
ajfa-8136	490	42	j.	j.	PROPN
ajfa-8136	490	43	(	(	PUNCT
ajfa-8136	490	44	2007	2007	NUM
ajfa-8136	490	45	)	)	PUNCT
ajfa-8136	490	46	.	.	PUNCT
ajfa-8136	491	1	foreign	foreign	ADJ
ajfa-8136	491	2	equity	equity	NOUN
ajfa-8136	491	3	trading	trading	NOUN
ajfa-8136	491	4	and	and	CCONJ
ajfa-8136	491	5	emerging	emerge	VERB
ajfa-8136	491	6	market	market	NOUN
ajfa-8136	491	7	volatility	volatility	NOUN
ajfa-8136	491	8	:	:	PUNCT
ajfa-8136	491	9	evidence	evidence	NOUN
ajfa-8136	491	10	from	from	ADP
ajfa-8136	491	11	indonesia	indonesia	PROPN
ajfa-8136	491	12	and	and	CCONJ
ajfa-8136	491	13	thailand	thailand	PROPN
ajfa-8136	491	14	.	.	PROPN
ajfa-8136	492	1	journal	journal	PROPN
ajfa-8136	492	2	of	of	ADP
ajfa-8136	492	3	development	development	NOUN
ajfa-8136	492	4	economics	economic	NOUN
ajfa-8136	492	5	,	,	PUNCT
ajfa-8136	492	6	84(2	84(2	NUM
ajfa-8136	492	7	)	)	PUNCT
ajfa-8136	492	8	,	,	PUNCT
ajfa-8136	492	9	798–811	798–811	NUM
ajfa-8136	492	10	.	.	PUNCT
ajfa-8136	493	1	http://dx.doi.org/10.1016/j.jdeveco.2006.05.001	http://dx.doi.org/10.1016/j.jdeveco.2006.05.001	NOUN
ajfa-8136	493	2	watanabe	watanabe	PROPN
ajfa-8136	493	3	,	,	PUNCT
ajfa-8136	493	4	a.	a.	PROPN
ajfa-8136	493	5	and	and	CCONJ
ajfa-8136	493	6	watanabe	watanabe	PROPN
ajfa-8136	493	7	,	,	PUNCT
ajfa-8136	493	8	m.	m.	NOUN
ajfa-8136	493	9	(	(	PUNCT
ajfa-8136	493	10	2008).timevarying	2008).timevarye	VERB
ajfa-8136	493	11	liquidity	liquidity	NOUN
ajfa-8136	493	12	risk	risk	NOUN
ajfa-8136	493	13	and	and	CCONJ
ajfa-8136	493	14	the	the	DET
ajfa-8136	493	15	cross	cross	NOUN
ajfa-8136	493	16	section	section	NOUN
ajfa-8136	493	17	of	of	ADP
ajfa-8136	493	18	stock	stock	NOUN
ajfa-8136	493	19	returns.review	returns.review	PROPN
ajfa-8136	493	20	of	of	ADP
ajfa-8136	493	21	financial	financial	ADJ
ajfa-8136	493	22	studies	study	NOUN
ajfa-8136	493	23	,	,	PUNCT
ajfa-8136	493	24	21(6	21(6	NOUN
ajfa-8136	493	25	)	)	PUNCT
ajfa-8136	493	26	,	,	PUNCT
ajfa-8136	493	27	2449	2449	NUM
ajfa-8136	493	28	-	-	SYM
ajfa-8136	493	29	2486	2486	NUM
ajfa-8136	493	30	.	.	PUNCT
ajfa-8136	494	1	http://dx.doi.org/10.1093/rfs/hhm054	http://dx.doi.org/10.1093/rfs/hhm054	PROPN
ajfa-8136	494	2	wei	wei	PROPN
ajfa-8136	494	3	,	,	PUNCT
ajfa-8136	494	4	c.	c.	PROPN
ajfa-8136	494	5	(	(	PUNCT
ajfa-8136	494	6	2010	2010	NUM
ajfa-8136	494	7	)	)	PUNCT
ajfa-8136	494	8	.	.	PUNCT
ajfa-8136	495	1	do	do	AUX
ajfa-8136	495	2	foreign	foreign	ADJ
ajfa-8136	495	3	investors	investor	NOUN
ajfa-8136	495	4	improve	improve	VERB
ajfa-8136	495	5	stock	stock	NOUN
ajfa-8136	495	6	liquidity	liquidity	NOUN
ajfa-8136	495	7	?	?	PUNCT
ajfa-8136	496	1	university	university	NOUN
ajfa-8136	496	2	of	of	ADP
ajfa-8136	496	3	texas	texas	PROPN
ajfa-8136	496	4	working	working	PROPN
ajfa-8136	496	5	paper	paper	NOUN
ajfa-8136	496	6	.	.	PUNCT
ajfa-8136	497	1	available	available	ADJ
ajfa-8136	497	2	at	at	ADP
ajfa-8136	497	3	:	:	PUNCT
ajfa-8136	497	4	https://webspace.utexas.edu/cw2932	https://webspace.utexas.edu/cw2932	PROPN
ajfa-8136	497	5	weston	weston	PROPN
ajfa-8136	497	6	,	,	PUNCT
ajfa-8136	497	7	j.p	j.p	PROPN
ajfa-8136	497	8	.	.	PROPN
ajfa-8136	497	9	,	,	PUNCT
ajfa-8136	497	10	butler	butler	PROPN
ajfa-8136	497	11	,	,	PUNCT
ajfa-8136	497	12	a.w	a.w	PROPN
ajfa-8136	497	13	.	.	PROPN
ajfa-8136	497	14	,	,	PUNCT
ajfa-8136	497	15	and	and	CCONJ
ajfa-8136	497	16	grullon	grullon	NOUN
ajfa-8136	497	17	,	,	PUNCT
ajfa-8136	497	18	g.	g.	PROPN
ajfa-8136	497	19	(	(	PUNCT
ajfa-8136	497	20	2005).stock	2005).stock	NUM
ajfa-8136	497	21	market	market	NOUN
ajfa-8136	497	22	liquidity	liquidity	NOUN
ajfa-8136	497	23	and	and	CCONJ
ajfa-8136	497	24	the	the	DET
ajfa-8136	497	25	cost	cost	NOUN
ajfa-8136	497	26	of	of	ADP
ajfa-8136	497	27	issuing	issue	VERB
ajfa-8136	497	28	equity.journal	equity.journal	ADJ
ajfa-8136	497	29	of	of	ADP
ajfa-8136	497	30	financial	financial	ADJ
ajfa-8136	497	31	and	and	CCONJ
ajfa-8136	497	32	quantitative	quantitative	ADJ
ajfa-8136	497	33	analysis	analysis	NOUN
ajfa-8136	497	34	,	,	PUNCT
ajfa-8136	497	35	40(2	40(2	NUM
ajfa-8136	497	36	)	)	PUNCT
ajfa-8136	497	37	,	,	PUNCT
ajfa-8136	497	38	331	331	NUM
ajfa-8136	497	39	-	-	SYM
ajfa-8136	497	40	348	348	NUM
ajfa-8136	497	41	.	.	PUNCT
ajfa-8136	498	1	available	available	ADJ
ajfa-8136	498	2	at	at	ADP
ajfa-8136	498	3	:	:	PUNCT
ajfa-8136	498	4	http://www.jstor.org/stable/27647200	http://www.jstor.org/stable/27647200	PROPN
ajfa-8136	498	5	yaghoobnezhad	yaghoobnezhad	NOUN
ajfa-8136	498	6	,	,	PUNCT
ajfa-8136	498	7	a.	a.	NOUN
ajfa-8136	498	8	,	,	PUNCT
ajfa-8136	498	9	roodposhti	roodposhti	NOUN
ajfa-8136	498	10	,	,	PUNCT
ajfa-8136	498	11	f.r	f.r	PROPN
ajfa-8136	498	12	.	.	PROPN
ajfa-8136	498	13	and	and	CCONJ
ajfa-8136	498	14	zabihi	zabihi	PROPN
ajfa-8136	498	15	,	,	PUNCT
ajfa-8136	498	16	a.(2011	a.(2011	PROPN
ajfa-8136	498	17	)	)	PUNCT
ajfa-8136	498	18	.	.	PUNCT
ajfa-8136	499	1	the	the	DET
ajfa-8136	499	2	study	study	NOUN
ajfa-8136	499	3	of	of	ADP
ajfa-8136	499	4	relationship	relationship	NOUN
ajfa-8136	499	5	between	between	ADP
ajfa-8136	499	6	institutional	institutional	ADJ
ajfa-8136	499	7	ownership	ownership	NOUN
ajfa-8136	499	8	and	and	CCONJ
ajfa-8136	499	9	stock	stock	NOUN
ajfa-8136	499	10	liquidity	liquidity	NOUN
ajfa-8136	499	11	in	in	ADP
ajfa-8136	499	12	tehran	tehran	PROPN
ajfa-8136	499	13	stock	stock	PROPN
ajfa-8136	499	14	exchange	exchange	PROPN
ajfa-8136	499	15	,	,	PUNCT
ajfa-8136	499	16	j.	j.	PROPN
ajfa-8136	499	17	basic	basic	PROPN
ajfa-8136	499	18	.	.	PUNCT
ajfa-8136	500	1	appl	appl	PROPN
ajfa-8136	500	2	.	.	PUNCT
ajfa-8136	501	1	sci	sci	PROPN
ajfa-8136	501	2	.	.	PUNCT
ajfa-8136	501	3	res	res	PROPN
ajfa-8136	501	4	.	.	PROPN
ajfa-8136	501	5	,	,	PUNCT
ajfa-8136	501	6	1(12	1(12	NUM
ajfa-8136	501	7	)	)	PUNCT
ajfa-8136	501	8	,	,	PUNCT
ajfa-8136	501	9	2736	2736	NUM
ajfa-8136	501	10	-	-	SYM
ajfa-8136	501	11	2742	2742	NUM
ajfa-8136	501	12	.	.	PUNCT
ajfa-8136	502	1	available	available	ADJ
ajfa-8136	502	2	at	at	ADP
ajfa-8136	502	3	:	:	PUNCT
ajfa-8136	502	4	http://textroad.com/old%20version/pdf/jbasr/j.%20basic.%20appl.%20sci.%20res.,%20	http://textroad.com/old%20version/pdf/jbasr/j.%20basic.%20appl.%20sci.%20res.,%20	PROPN
ajfa-8136	502	5	1(12)2736	1(12)2736	NUM
ajfa-8136	502	6	-	-	SYM
ajfa-8136	502	7	2742,%202011.pdf	2742,%202011.pdf	NUM
ajfa-8136	502	8	zheng	zheng	X
ajfa-8136	502	9	,	,	PUNCT
ajfa-8136	502	10	x.	x.	PROPN
ajfa-8136	502	11	and	and	CCONJ
ajfa-8136	502	12	zhang	zhang	PROPN
ajfa-8136	502	13	,	,	PUNCT
ajfa-8136	502	14	z.	z.	PROPN
ajfa-8136	502	15	(	(	PUNCT
ajfa-8136	502	16	2006	2006	NUM
ajfa-8136	502	17	)	)	PUNCT
ajfa-8136	502	18	.	.	PUNCT
ajfa-8136	503	1	commonality	commonality	NOUN
ajfa-8136	503	2	in	in	ADP
ajfa-8136	503	3	liquidity	liquidity	NOUN
ajfa-8136	503	4	in	in	ADP
ajfa-8136	503	5	emerging	emerge	VERB
ajfa-8136	503	6	markets	market	NOUN
ajfa-8136	503	7	:	:	PUNCT
ajfa-8136	503	8	evidence	evidence	NOUN
ajfa-8136	503	9	from	from	ADP
ajfa-8136	503	10	the	the	DET
ajfa-8136	503	11	chinese	chinese	ADJ
ajfa-8136	503	12	stock	stock	NOUN
ajfa-8136	503	13	market	market	NOUN
ajfa-8136	503	14	.	.	PUNCT
ajfa-8136	504	1	durham	durham	PROPN
ajfa-8136	504	2	working	working	PROPN
ajfa-8136	504	3	paper	paper	NOUN
ajfa-8136	504	4	in	in	ADP
ajfa-8136	504	5	economics	economic	NOUN
ajfa-8136	504	6	and	and	CCONJ
ajfa-8136	504	7	finance	finance	NOUN
ajfa-8136	504	8	,	,	PUNCT
ajfa-8136	504	9	no	no	INTJ
ajfa-8136	504	10	.	.	NOUN
ajfa-8136	504	11	06/04	06/04	NUM
ajfa-8136	504	12	asian	asian	ADJ
ajfa-8136	504	13	journal	journal	NOUN
ajfa-8136	504	14	of	of	ADP
ajfa-8136	504	15	finance	finance	PROPN
ajfa-8136	504	16	&	&	CCONJ
ajfa-8136	504	17	accounting	accounting	PROPN
ajfa-8136	504	18	issn	issn	PROPN
ajfa-8136	504	19	1946	1946	NUM
ajfa-8136	504	20	-	-	PUNCT
ajfa-8136	504	21	052x	052x	NOUN
ajfa-8136	504	22	2015	2015	NUM
ajfa-8136	504	23	,	,	PUNCT
ajfa-8136	504	24	vol	vol	NOUN
ajfa-8136	504	25	.	.	PROPN
ajfa-8136	505	1	7	7	NUM
ajfa-8136	505	2	,	,	PUNCT
ajfa-8136	505	3	no	no	INTJ
ajfa-8136	505	4	.	.	NOUN
ajfa-8136	505	5	2	2	NUM
ajfa-8136	505	6	56	56	NUM
ajfa-8136	505	7	appendix	appendix	NOUN
ajfa-8136	505	8	(	(	PUNCT
ajfa-8136	505	9	i	i	NOUN
ajfa-8136	505	10	)	)	PUNCT
ajfa-8136	505	11	.	.	PUNCT
ajfa-8136	506	1	summary	summary	NOUN
ajfa-8136	506	2	of	of	ADP
ajfa-8136	506	3	low	low	ADJ
ajfa-8136	506	4	frequency	frequency	NOUN
ajfa-8136	506	5	liquidity	liquidity	NOUN
ajfa-8136	506	6	proxies	proxy	NOUN
ajfa-8136	506	7	reference	reference	VERB
ajfa-8136	506	8	proxy	proxy	PROPN
ajfa-8136	506	9	hui	hui	PROPN
ajfa-8136	506	10	-	-	PUNCT
ajfa-8136	506	11	heubel	heubel	PROPN
ajfa-8136	506	12	liquidity	liquidity	NOUN
ajfa-8136	506	13	ratio	ratio	NOUN
ajfa-8136	506	14	(	(	PUNCT
ajfa-8136	506	15	1984	1984	NUM
ajfa-8136	506	16	)	)	PUNCT
ajfa-8136	506	17	l	l	NOUN
ajfa-8136	507	1	=	=	PUNCT
ajfa-8136	507	2	(	(	PUNCT
ajfa-8136	507	3	−	−	PROPN
ajfa-8136	507	4	)	)	PUNCT
ajfa-8136	508	1	⁄	⁄	PROPN
ajfa-8136	508	2	(	(	PUNCT
ajfa-8136	508	3	∗	∗	NOUN
ajfa-8136	508	4	)	)	PUNCT
ajfa-8136	509	1	⁄	⁄	PROPN
ajfa-8136	509	2	p	p	NOUN
ajfa-8136	509	3	is	be	AUX
ajfa-8136	509	4	highest	high	ADJ
ajfa-8136	509	5	daily	daily	ADJ
ajfa-8136	509	6	price	price	NOUN
ajfa-8136	509	7	over	over	ADP
ajfa-8136	509	8	last	last	ADJ
ajfa-8136	509	9	5	5	NUM
ajfa-8136	509	10	days	day	NOUN
ajfa-8136	509	11	,	,	PUNCT
ajfa-8136	509	12	p	p	NOUN
ajfa-8136	509	13	is	be	AUX
ajfa-8136	509	14	lowest	low	ADJ
ajfa-8136	509	15	daily	daily	ADJ
ajfa-8136	509	16	price	price	NOUN
ajfa-8136	509	17	over	over	ADP
ajfa-8136	509	18	last	last	ADJ
ajfa-8136	509	19	5	5	NUM
ajfa-8136	509	20	days	day	NOUN
ajfa-8136	509	21	,	,	PUNCT
ajfa-8136	509	22	v	v	NOUN
ajfa-8136	509	23	is	be	AUX
ajfa-8136	509	24	the	the	DET
ajfa-8136	509	25	total	total	ADJ
ajfa-8136	509	26	dollar	dollar	NOUN
ajfa-8136	509	27	volume	volume	NOUN
ajfa-8136	509	28	traded	trade	VERB
ajfa-8136	509	29	over	over	ADP
ajfa-8136	509	30	last	last	ADJ
ajfa-8136	509	31	5	5	NUM
ajfa-8136	509	32	days	day	NOUN
ajfa-8136	509	33	,	,	PUNCT
ajfa-8136	509	34	s	s	VERB
ajfa-8136	509	35	is	be	AUX
ajfa-8136	509	36	the	the	DET
ajfa-8136	509	37	number	number	NOUN
ajfa-8136	509	38	of	of	ADP
ajfa-8136	509	39	instruments	instrument	NOUN
ajfa-8136	509	40	outstanding	outstanding	ADJ
ajfa-8136	509	41	and	and	CCONJ
ajfa-8136	509	42	p	p	NOUN
ajfa-8136	509	43	is	be	AUX
ajfa-8136	509	44	average	average	ADJ
ajfa-8136	509	45	closing	closing	NOUN
ajfa-8136	509	46	price	price	NOUN
ajfa-8136	509	47	of	of	ADP
ajfa-8136	509	48	the	the	DET
ajfa-8136	509	49	instrument	instrument	NOUN
ajfa-8136	509	50	over	over	ADP
ajfa-8136	509	51	a	a	DET
ajfa-8136	509	52	5	5	NUM
ajfa-8136	509	53	day	day	NOUN
ajfa-8136	509	54	period	period	NOUN
ajfa-8136	509	55	.	.	PUNCT
ajfa-8136	510	1	datar	datar	ADJ
ajfa-8136	510	2	(	(	PUNCT
ajfa-8136	510	3	2000	2000	NUM
ajfa-8136	510	4	)	)	PUNCT
ajfa-8136	510	5	cet	cet	NOUN
ajfa-8136	510	6	=	=	NOUN
ajfa-8136	510	7	%	%	NOUN
ajfa-8136	510	8	change	change	NOUN
ajfa-8136	510	9	in	in	ADP
ajfa-8136	510	10	trading	trading	NOUN
ajfa-8136	510	11	volume%	volume%	PUNCT
ajfa-8136	510	12	change	change	NOUN
ajfa-8136	510	13	in	in	ADP
ajfa-8136	510	14	price	price	NOUN
ajfa-8136	510	15	cet	cet	NOUN
ajfa-8136	510	16	is	be	AUX
ajfa-8136	510	17	coefficient	coefficient	NOUN
ajfa-8136	510	18	of	of	ADP
ajfa-8136	510	19	elasticity	elasticity	NOUN
ajfa-8136	510	20	of	of	ADP
ajfa-8136	510	21	trading	trading	NOUN
ajfa-8136	510	22	.	.	PUNCT
ajfa-8136	511	1	hasbrouck	hasbrouck	NOUN
ajfa-8136	511	2	and	and	CCONJ
ajfa-8136	511	3	schwartz	schwartz	PROPN
ajfa-8136	511	4	(	(	PUNCT
ajfa-8136	511	5	1988	1988	NUM
ajfa-8136	511	6	)	)	PUNCT
ajfa-8136	511	7	mec	mec	NOUN
ajfa-8136	511	8	=	=	SYM
ajfa-8136	511	9	long	long	ADJ
ajfa-8136	511	10	term	term	NOUN
ajfa-8136	511	11	price	price	NOUN
ajfa-8136	511	12	variabiltyshort	variabiltyshort	NOUN
ajfa-8136	511	13	term	term	NOUN
ajfa-8136	511	14	price	price	NOUN
ajfa-8136	511	15	variabilty	variabilty	NOUN
ajfa-8136	511	16	measures	measure	NOUN
ajfa-8136	511	17	used	use	VERB
ajfa-8136	511	18	by	by	ADP
ajfa-8136	511	19	saar	saar	NOUN
ajfa-8136	511	20	and	and	CCONJ
ajfa-8136	511	21	lybek	lybek	PROPN
ajfa-8136	511	22	(	(	PUNCT
ajfa-8136	511	23	2002	2002	NUM
ajfa-8136	511	24	)	)	PUNCT
ajfa-8136	511	25	s	s	PART
ajfa-8136	511	26	=	=	PUNCT
ajfa-8136	511	27	(	(	PUNCT
ajfa-8136	511	28	p	p	NOUN
ajfa-8136	511	29	−	−	PROPN
ajfa-8136	511	30	p	p	NOUN
ajfa-8136	511	31	)	)	PUNCT
ajfa-8136	511	32	s	s	NOUN
ajfa-8136	511	33	=	=	PUNCT
ajfa-8136	511	34	(	(	PUNCT
ajfa-8136	511	35	p	p	NOUN
ajfa-8136	511	36	−	−	PROPN
ajfa-8136	511	37	p	p	NOUN
ajfa-8136	511	38	)	)	PUNCT
ajfa-8136	511	39	(	(	PUNCT
ajfa-8136	511	40	p	p	X
ajfa-8136	512	1	+	+	X
ajfa-8136	512	2	p	p	NOUN
ajfa-8136	512	3	)	)	PUNCT
ajfa-8136	512	4	2	2	NUM
ajfa-8136	512	5	where	where	SCONJ
ajfa-8136	512	6	pa	pa	PROPN
ajfa-8136	512	7	is	be	AUX
ajfa-8136	512	8	the	the	DET
ajfa-8136	512	9	ask	ask	NOUN
ajfa-8136	512	10	price	price	NOUN
ajfa-8136	512	11	and	and	CCONJ
ajfa-8136	512	12	pb	pb	NOUN
ajfa-8136	512	13	is	be	AUX
ajfa-8136	512	14	the	the	DET
ajfa-8136	512	15	bid	bid	NOUN
ajfa-8136	512	16	price	price	NOUN
ajfa-8136	512	17	measures	measure	NOUN
ajfa-8136	512	18	used	use	VERB
ajfa-8136	512	19	by	by	ADP
ajfa-8136	512	20	saar	saar	NOUN
ajfa-8136	512	21	and	and	CCONJ
ajfa-8136	512	22	lybek	lybek	PROPN
ajfa-8136	512	23	(	(	PUNCT
ajfa-8136	512	24	2002	2002	NUM
ajfa-8136	512	25	)	)	PUNCT
ajfa-8136	512	26	v	v	NOUN
ajfa-8136	513	1	=	=	SYM
ajfa-8136	513	2	p	p	X
ajfa-8136	513	3	×	×	NOUN
ajfa-8136	513	4	q	q	X
ajfa-8136	513	5	where	where	SCONJ
ajfa-8136	513	6	v	v	NOUN
ajfa-8136	513	7	is	be	AUX
ajfa-8136	513	8	the	the	DET
ajfa-8136	513	9	dollar	dollar	NOUN
ajfa-8136	513	10	volume	volume	NOUN
ajfa-8136	513	11	traded	trade	VERB
ajfa-8136	513	12	,	,	PUNCT
ajfa-8136	513	13	p	p	NOUN
ajfa-8136	513	14	and	and	CCONJ
ajfa-8136	513	15	q	q	NOUN
ajfa-8136	513	16	are	be	AUX
ajfa-8136	513	17	price	price	NOUN
ajfa-8136	513	18	and	and	CCONJ
ajfa-8136	513	19	quantity	quantity	NOUN
ajfa-8136	513	20	of	of	ADP
ajfa-8136	513	21	the	the	DET
ajfa-8136	513	22	ith	ith	PROPN
ajfa-8136	513	23	trade	trade	NOUN
ajfa-8136	513	24	during	during	ADP
ajfa-8136	513	25	a	a	DET
ajfa-8136	513	26	specific	specific	ADJ
ajfa-8136	513	27	period	period	NOUN
ajfa-8136	513	28	t	t	NOUN
ajfa-8136	513	29	=	=	PUNCT
ajfa-8136	514	1	v(s	v(s	PROPN
ajfa-8136	514	2	×	×	NOUN
ajfa-8136	514	3	p	p	NOUN
ajfa-8136	514	4	)	)	PUNCT
ajfa-8136	514	5	where	where	SCONJ
ajfa-8136	514	6	s	s	NOUN
ajfa-8136	514	7	is	be	AUX
ajfa-8136	514	8	the	the	DET
ajfa-8136	514	9	outstanding	outstanding	ADJ
ajfa-8136	514	10	stock	stock	NOUN
ajfa-8136	514	11	of	of	ADP
ajfa-8136	514	12	the	the	DET
ajfa-8136	514	13	asset	asset	NOUN
ajfa-8136	514	14	and	and	CCONJ
ajfa-8136	514	15	p	p	NOUN
ajfa-8136	514	16	is	be	AUX
ajfa-8136	514	17	the	the	DET
ajfa-8136	514	18	average	average	ADJ
ajfa-8136	514	19	price	price	NOUN
ajfa-8136	514	20	of	of	ADP
ajfa-8136	514	21	ith	ith	PROPN
ajfa-8136	514	22	trades	trade	NOUN
ajfa-8136	514	23	.	.	PUNCT
ajfa-8136	515	1	measures	measure	NOUN
ajfa-8136	515	2	used	use	VERB
ajfa-8136	515	3	by	by	ADP
ajfa-8136	515	4	saar	saar	NOUN
ajfa-8136	515	5	and	and	CCONJ
ajfa-8136	515	6	lybek	lybek	PROPN
ajfa-8136	515	7	(	(	PUNCT
ajfa-8136	515	8	2002	2002	NUM
ajfa-8136	515	9	)	)	PUNCT
ajfa-8136	515	10	mec	mec	NOUN
ajfa-8136	515	11	=	=	SYM
ajfa-8136	515	12	var	var	NOUN
ajfa-8136	515	13	(	(	PUNCT
ajfa-8136	515	14	r	r	NOUN
ajfa-8136	515	15	)	)	PUNCT
ajfa-8136	515	16	t	t	NOUN
ajfa-8136	515	17	∗	∗	NOUN
ajfa-8136	515	18	var	var	NOUN
ajfa-8136	515	19	(	(	PUNCT
ajfa-8136	515	20	r	r	NOUN
ajfa-8136	515	21	)	)	PUNCT
ajfa-8136	515	22	var	var	NOUN
ajfa-8136	515	23	(	(	PUNCT
ajfa-8136	515	24	r	r	NOUN
ajfa-8136	515	25	)	)	PUNCT
ajfa-8136	515	26	=	=	SYM
ajfa-8136	515	27	variance	variance	NOUN
ajfa-8136	515	28	of	of	ADP
ajfa-8136	515	29	the	the	DET
ajfa-8136	515	30	logarithm	logarithm	NOUN
ajfa-8136	515	31	of	of	ADP
ajfa-8136	515	32	long	long	ADJ
ajfa-8136	515	33	period	period	NOUN
ajfa-8136	515	34	returns	return	NOUN
ajfa-8136	515	35	,	,	PUNCT
ajfa-8136	515	36	var	var	NOUN
ajfa-8136	515	37	(	(	PUNCT
ajfa-8136	515	38	r	r	NOUN
ajfa-8136	515	39	)	)	PUNCT
ajfa-8136	516	1	=	=	SYM
ajfa-8136	516	2	variance	variance	NOUN
ajfa-8136	516	3	of	of	ADP
ajfa-8136	516	4	the	the	DET
ajfa-8136	516	5	logarithm	logarithm	NOUN
ajfa-8136	516	6	of	of	ADP
ajfa-8136	516	7	short	short	ADJ
ajfa-8136	516	8	period	period	NOUN
ajfa-8136	516	9	returns	return	NOUN
ajfa-8136	516	10	and	and	CCONJ
ajfa-8136	516	11	t	t	NOUN
ajfa-8136	516	12	=	=	PUNCT
ajfa-8136	516	13	number	number	NOUN
ajfa-8136	516	14	of	of	ADP
ajfa-8136	516	15	short	short	ADJ
ajfa-8136	516	16	periods	period	NOUN
ajfa-8136	516	17	in	in	ADP
ajfa-8136	516	18	each	each	PRON
ajfa-8136	516	19	longer	long	ADJ
ajfa-8136	516	20	period	period	NOUN
ajfa-8136	516	21	roll	roll	NOUN
ajfa-8136	516	22	(	(	PUNCT
ajfa-8136	516	23	1984	1984	NUM
ajfa-8136	516	24	)	)	PUNCT
ajfa-8136	516	25	roll	roll	NOUN
ajfa-8136	516	26	=	=	SYM
ajfa-8136	516	27	2	2	NUM
ajfa-8136	516	28	−cov(∆p	−cov(∆p	NOUN
ajfa-8136	516	29	,	,	PUNCT
ajfa-8136	516	30	∆p	∆p	PROPN
ajfa-8136	516	31	)	)	PUNCT
ajfa-8136	517	1	if	if	SCONJ
ajfa-8136	517	2	cov	cov	PROPN
ajfa-8136	517	3	(	(	PUNCT
ajfa-8136	517	4	∆p	∆p	PROPN
ajfa-8136	517	5	,	,	PUNCT
ajfa-8136	517	6	∆p	∆p	PROPN
ajfa-8136	517	7	)	)	PUNCT
ajfa-8136	517	8	<	<	X
ajfa-8136	517	9	00	00	PUNCT
ajfa-8136	518	1	if	if	SCONJ
ajfa-8136	518	2	cov(∆p	cov(∆p	NOUN
ajfa-8136	518	3	,	,	PUNCT
ajfa-8136	518	4	∆p	∆p	PROPN
ajfa-8136	518	5	)	)	PUNCT
ajfa-8136	518	6	≥	≥	NOUN
ajfa-8136	518	7	0	0	NUM
ajfa-8136	519	1	holden	holden	PROPN
ajfa-8136	519	2	(	(	PUNCT
ajfa-8136	519	3	2009	2009	NUM
ajfa-8136	519	4	)	)	PUNCT
ajfa-8136	519	5	extended	extend	VERB
ajfa-8136	519	6	roll	roll	NOUN
ajfa-8136	519	7	=	=	SYM
ajfa-8136	519	8	2	2	NUM
ajfa-8136	519	9	−cov(∆p∗	−cov(∆p∗	NOUN
ajfa-8136	519	10	,	,	PUNCT
ajfa-8136	519	11	∆p∗	∆p∗	NOUN
ajfa-8136	519	12	)	)	PUNCT
ajfa-8136	519	13	p	p	NOUN
ajfa-8136	519	14	if	if	SCONJ
ajfa-8136	519	15	cov	cov	PROPN
ajfa-8136	519	16	(	(	PUNCT
ajfa-8136	519	17	∆p∗	∆p∗	NOUN
ajfa-8136	519	18	,	,	PUNCT
ajfa-8136	519	19	∆p∗	∆p∗	NOUN
ajfa-8136	519	20	)	)	PUNCT
ajfa-8136	519	21	<	<	X
ajfa-8136	519	22	00	00	PUNCT
ajfa-8136	520	1	if	if	SCONJ
ajfa-8136	520	2	cov	cov	PROPN
ajfa-8136	520	3	(	(	PUNCT
ajfa-8136	520	4	∆p∗	∆p∗	NOUN
ajfa-8136	520	5	,	,	PUNCT
ajfa-8136	520	6	∆p∗	∆p∗	NOUN
ajfa-8136	520	7	)	)	PUNCT
ajfa-8136	520	8	>	>	X
ajfa-8136	520	9	0	0	PUNCT
ajfa-8136	520	10	,	,	PUNCT
ajfa-8136	520	11	where	where	SCONJ
ajfa-8136	520	12	the	the	DET
ajfa-8136	520	13	idiosyncratic	idiosyncratic	ADJ
ajfa-8136	520	14	adjusted	adjust	VERB
ajfa-8136	520	15	price	price	NOUN
ajfa-8136	520	16	change	change	NOUN
ajfa-8136	520	17	∆p∗	∆p∗	NOUN
ajfa-8136	520	18	=	=	NOUN
ajfa-8136	520	19	z	z	NOUN
ajfa-8136	520	20	.	.	PUNCT
ajfa-8136	521	1	p	p	NOUN
ajfa-8136	521	2	and	and	CCONJ
ajfa-8136	521	3	z	z	PROPN
ajfa-8136	521	4	is	be	AUX
ajfa-8136	521	5	the	the	DET
ajfa-8136	521	6	regression	regression	NOUN
ajfa-8136	521	7	residual	residual	ADJ
ajfa-8136	521	8	from	from	ADP
ajfa-8136	521	9	the	the	DET
ajfa-8136	521	10	market	market	NOUN
ajfa-8136	521	11	model	model	NOUN
ajfa-8136	521	12	ar	ar	PROPN
ajfa-8136	521	13	−	−	PROPN
ajfa-8136	521	14	r	r	NOUN
ajfa-8136	521	15	=	=	PUNCT
ajfa-8136	521	16	α	α	NOUN
ajfa-8136	522	1	+	+	X
ajfa-8136	522	2	β(r	β(r	ADP
ajfa-8136	522	3	−	−	PROPN
ajfa-8136	522	4	r	r	NOUN
ajfa-8136	522	5	)	)	PUNCT
ajfa-8136	523	1	+	+	CCONJ
ajfa-8136	523	2	z	z	NOUN
ajfa-8136	523	3	.	.	PUNCT
ajfa-8136	524	1	goyenko	goyenko	PROPN
ajfa-8136	524	2	,	,	PUNCT
ajfa-8136	524	3	holden	holden	PROPN
ajfa-8136	524	4	,	,	PUNCT
ajfa-8136	524	5	and	and	CCONJ
ajfa-8136	524	6	lot	lot	NOUN
ajfa-8136	524	7	y	y	PROPN
ajfa-8136	524	8	−	−	PROPN
ajfa-8136	524	9	split	split	NOUN
ajfa-8136	525	1	=	=	PUNCT
ajfa-8136	525	2	α	α	NOUN
ajfa-8136	525	3	−	−	PROPN
ajfa-8136	525	4	α	α	PRON
ajfa-8136	525	5	where	where	SCONJ
ajfa-8136	525	6	everything	everything	PRON
ajfa-8136	525	7	is	be	AUX
ajfa-8136	525	8	the	the	DET
ajfa-8136	525	9	same	same	ADJ
ajfa-8136	525	10	as	as	ADP
ajfa-8136	525	11	lot	lot	NOUN
ajfa-8136	525	12	mixed	mix	VERB
ajfa-8136	525	13	,	,	PUNCT
ajfa-8136	525	14	except	except	SCONJ
ajfa-8136	525	15	that	that	DET
ajfa-8136	525	16	region	region	NOUN
ajfa-8136	525	17	0	0	NUM
ajfa-8136	525	18	is	be	AUX
ajfa-8136	525	19	r	r	NOUN
ajfa-8136	525	20	=	=	SYM
ajfa-8136	525	21	0	0	NUM
ajfa-8136	525	22	,	,	PUNCT
ajfa-8136	525	23	region	region	NOUN
ajfa-8136	525	24	1	1	NUM
ajfa-8136	525	25	is	be	AUX
ajfa-8136	525	26	r	r	NOUN
ajfa-8136	525	27	>	>	X
ajfa-8136	525	28	0	0	NUM
ajfa-8136	525	29	,	,	PUNCT
ajfa-8136	525	30	and	and	CCONJ
ajfa-8136	525	31	region	region	NOUN
ajfa-8136	525	32	2	2	NUM
ajfa-8136	525	33	is	be	AUX
ajfa-8136	525	34	r	r	NOUN
ajfa-8136	525	35	<	<	X
ajfa-8136	525	36	0	0	NUM
ajfa-8136	525	37	and	and	CCONJ
ajfa-8136	525	38	no	no	DET
ajfa-8136	525	39	asian	asian	ADJ
ajfa-8136	525	40	journal	journal	NOUN
ajfa-8136	525	41	of	of	ADP
ajfa-8136	525	42	finance	finance	PROPN
ajfa-8136	525	43	&	&	CCONJ
ajfa-8136	525	44	accounting	accounting	PROPN
ajfa-8136	525	45	issn	issn	PROPN
ajfa-8136	525	46	1946	1946	NUM
ajfa-8136	525	47	-	-	PUNCT
ajfa-8136	525	48	052x	052x	NOUN
ajfa-8136	525	49	2015	2015	NUM
ajfa-8136	525	50	,	,	PUNCT
ajfa-8136	525	51	vol	vol	NOUN
ajfa-8136	525	52	.	.	PROPN
ajfa-8136	526	1	7	7	NUM
ajfa-8136	526	2	,	,	PUNCT
ajfa-8136	526	3	no	no	INTJ
ajfa-8136	526	4	.	.	NOUN
ajfa-8136	526	5	2	2	NUM
ajfa-8136	526	6	57	57	NUM
ajfa-8136	526	7	trzcinka	trzcinka	NOUN
ajfa-8136	526	8	(	(	PUNCT
ajfa-8136	526	9	2009	2009	NUM
ajfa-8136	526	10	)	)	PUNCT
ajfa-8136	526	11	upper	upper	ADJ
ajfa-8136	526	12	bound	bind	VERB
ajfa-8136	526	13	cap	cap	NOUN
ajfa-8136	526	14	is	be	AUX
ajfa-8136	526	15	imposed	impose	VERB
ajfa-8136	526	16	.	.	PUNCT
ajfa-8136	527	1	lesmond	lesmond	NOUN
ajfa-8136	527	2	,	,	PUNCT
ajfa-8136	527	3	ogden	ogden	PROPN
ajfa-8136	527	4	,	,	PUNCT
ajfa-8136	527	5	and	and	CCONJ
ajfa-8136	527	6	trzcinka	trzcinka	NOUN
ajfa-8136	527	7	(	(	PUNCT
ajfa-8136	527	8	1999	1999	NUM
ajfa-8136	527	9	)	)	PUNCT
ajfa-8136	527	10	zeros	zero	NOUN
ajfa-8136	527	11	=	=	SYM
ajfa-8136	527	12	,	,	PUNCT
ajfa-8136	527	13	where	where	SCONJ
ajfa-8136	527	14	zrd	zrd	NOUN
ajfa-8136	527	15	is	be	AUX
ajfa-8136	527	16	the	the	DET
ajfa-8136	527	17	number	number	NOUN
ajfa-8136	527	18	of	of	ADP
ajfa-8136	527	19	zero	zero	NUM
ajfa-8136	527	20	return	return	NOUN
ajfa-8136	527	21	days	day	NOUN
ajfa-8136	527	22	,	,	PUNCT
ajfa-8136	527	23	td	td	NOUN
ajfa-8136	527	24	is	be	AUX
ajfa-8136	527	25	number	number	NOUN
ajfa-8136	527	26	of	of	ADP
ajfa-8136	527	27	trading	trading	NOUN
ajfa-8136	527	28	days	day	NOUN
ajfa-8136	527	29	and	and	CCONJ
ajfa-8136	527	30	ntd	ntd	PROPN
ajfa-8136	527	31	is	be	AUX
ajfa-8136	527	32	number	number	NOUN
ajfa-8136	527	33	of	of	ADP
ajfa-8136	527	34	no	no	DET
ajfa-8136	527	35	trade	trade	NOUN
ajfa-8136	527	36	days	day	NOUN
ajfa-8136	527	37	in	in	ADP
ajfa-8136	527	38	a	a	DET
ajfa-8136	527	39	given	give	VERB
ajfa-8136	527	40	stock	stock	NOUN
ajfa-8136	527	41	month	month	NOUN
ajfa-8136	527	42	.	.	PUNCT
ajfa-8136	528	1	goyenko	goyenko	PROPN
ajfa-8136	528	2	,	,	PUNCT
ajfa-8136	528	3	holden	holden	PROPN
ajfa-8136	528	4	,	,	PUNCT
ajfa-8136	528	5	and	and	CCONJ
ajfa-8136	528	6	trzcinka	trzcinka	NOUN
ajfa-8136	528	7	(	(	PUNCT
ajfa-8136	528	8	2009	2009	NUM
ajfa-8136	528	9	)	)	PUNCT
ajfa-8136	528	10	zeros2	zeros2	NOUN
ajfa-8136	529	1	=	=	SYM
ajfa-8136	529	2	#	#	NOUN
ajfa-8136	529	3	of	of	ADP
ajfa-8136	529	4	positive	positive	ADJ
ajfa-8136	529	5	volume	volume	NOUN
ajfa-8136	529	6	days	day	NOUN
ajfa-8136	529	7	with	with	ADP
ajfa-8136	529	8	zero	zero	NUM
ajfa-8136	529	9	returntd	returntd	ADJ
ajfa-8136	529	10	+	+	CCONJ
ajfa-8136	529	11	ntd	ntd	PROPN
ajfa-8136	529	12	goyenko	goyenko	PROPN
ajfa-8136	529	13	et	et	PROPN
ajfa-8136	529	14	al	al	PROPN
ajfa-8136	529	15	.	.	PUNCT
ajfa-8136	530	1	(	(	PUNCT
ajfa-8136	530	2	2009	2009	NUM
ajfa-8136	530	3	)	)	PUNCT
ajfa-8136	530	4	5	5	NUM
ajfa-8136	530	5	minute	minute	NOUN
ajfa-8136	530	6	price	price	NOUN
ajfa-8136	530	7	impact	impact	NOUN
ajfa-8136	530	8	=	=	SYM
ajfa-8136	530	9	2	2	NUM
ajfa-8136	530	10	×	×	NOUN
ajfa-8136	530	11	ln(m	ln(m	NOUN
ajfa-8136	530	12	)	)	PUNCT
ajfa-8136	530	13	−	−	PROPN
ajfa-8136	530	14	ln(m	ln(m	NOUN
ajfa-8136	530	15	)	)	PUNCT
ajfa-8136	530	16	if	if	SCONJ
ajfa-8136	530	17	the	the	DET
ajfa-8136	530	18	t	t	NOUN
ajfa-8136	530	19	is	be	AUX
ajfa-8136	530	20	a	a	DET
ajfa-8136	530	21	buy2	buy2	NOUN
ajfa-8136	530	22	×	×	NOUN
ajfa-8136	530	23	ln(m	ln(m	PUNCT
ajfa-8136	530	24	)	)	PUNCT
ajfa-8136	531	1	−	−	PROPN
ajfa-8136	531	2	ln(m	ln(m	NOUN
ajfa-8136	531	3	)	)	PUNCT
ajfa-8136	531	4	if	if	SCONJ
ajfa-8136	531	5	the	the	DET
ajfa-8136	531	6	t	t	NOUN
ajfa-8136	531	7	is	be	AUX
ajfa-8136	531	8	a	a	DET
ajfa-8136	531	9	sell	sell	NOUN
ajfa-8136	531	10	in	in	ADP
ajfa-8136	531	11	the	the	DET
ajfa-8136	531	12	above	above	ADJ
ajfa-8136	531	13	specification	specification	NOUN
ajfa-8136	531	14	,	,	PUNCT
ajfa-8136	531	15	m	m	PROPN
ajfa-8136	531	16	and	and	CCONJ
ajfa-8136	531	17	m	m	VERB
ajfa-8136	531	18	are	be	AUX
ajfa-8136	531	19	the	the	DET
ajfa-8136	531	20	quote	quote	NOUN
ajfa-8136	531	21	midpoints	midpoint	NOUN
ajfa-8136	531	22	at	at	ADP
ajfa-8136	531	23	t	t	PROPN
ajfa-8136	531	24	and	and	CCONJ
ajfa-8136	531	25	five	five	NUM
ajfa-8136	531	26	minutes	minute	NOUN
ajfa-8136	531	27	after	after	ADP
ajfa-8136	531	28	t	t	PROPN
ajfa-8136	531	29	,	,	PUNCT
ajfa-8136	531	30	respectively	respectively	ADV
ajfa-8136	531	31	.	.	PUNCT
ajfa-8136	532	1	hasbrouck	hasbrouck	NOUN
ajfa-8136	532	2	(	(	PUNCT
ajfa-8136	532	3	2009	2009	NUM
ajfa-8136	532	4	)	)	PUNCT
ajfa-8136	532	5	it	it	PRON
ajfa-8136	532	6	is	be	AUX
ajfa-8136	532	7	measured	measure	VERB
ajfa-8136	532	8	as	as	ADP
ajfa-8136	532	9	the	the	DET
ajfa-8136	532	10	coefficient	coefficient	NOUN
ajfa-8136	532	11	λ	λ	X
ajfa-8136	532	12	in	in	ADP
ajfa-8136	532	13	the	the	DET
ajfa-8136	532	14	following	follow	VERB
ajfa-8136	532	15	regression	regression	NOUN
ajfa-8136	532	16	model	model	NOUN
ajfa-8136	532	17	:	:	PUNCT
ajfa-8136	532	18	r	r	NOUN
ajfa-8136	532	19	=	=	SYM
ajfa-8136	532	20	λ	λ	X
ajfa-8136	532	21	sign(volume	sign(volume	PROPN
ajfa-8136	532	22	)	)	PUNCT
ajfa-8136	532	23	|volume	|volume	VERB
ajfa-8136	533	1	|	|	ADV
ajfa-8136	533	2	+	+	CCONJ
ajfa-8136	533	3	u	u	NOUN
ajfa-8136	533	4	wherer	wherer	NOUN
ajfa-8136	533	5	is	be	AUX
ajfa-8136	533	6	the	the	DET
ajfa-8136	533	7	return	return	NOUN
ajfa-8136	533	8	over	over	ADP
ajfa-8136	533	9	the	the	DET
ajfa-8136	533	10	n	n	CCONJ
ajfa-8136	533	11	five	five	NUM
ajfa-8136	533	12	-	-	PUNCT
ajfa-8136	533	13	minute	minute	NOUN
ajfa-8136	533	14	interval	interval	NOUN
ajfa-8136	533	15	,	,	PUNCT
ajfa-8136	533	16	volume	volume	NOUN
ajfa-8136	533	17	is	be	AUX
ajfa-8136	533	18	the	the	DET
ajfa-8136	533	19	dollar	dollar	NOUN
ajfa-8136	533	20	volume	volume	NOUN
ajfa-8136	533	21	of	of	ADP
ajfa-8136	533	22	the	the	DET
ajfa-8136	533	23	t	t	PROPN
ajfa-8136	533	24	trade	trade	NOUN
ajfa-8136	533	25	during	during	ADP
ajfa-8136	533	26	the	the	DET
ajfa-8136	533	27	n	n	NOUN
ajfa-8136	533	28	interval	interval	NOUN
ajfa-8136	533	29	,	,	PUNCT
ajfa-8136	533	30	and	and	CCONJ
ajfa-8136	533	31	sign	sign	NOUN
ajfa-8136	533	32	(	(	PUNCT
ajfa-8136	533	33	·	·	PUNCT
ajfa-8136	533	34	)	)	PUNCT
ajfa-8136	533	35	takes	take	VERB
ajfa-8136	533	36	the	the	DET
ajfa-8136	533	37	value	value	NOUN
ajfa-8136	533	38	of	of	ADP
ajfa-8136	533	39	+1	+1	PRON
ajfa-8136	533	40	if	if	SCONJ
ajfa-8136	533	41	the	the	DET
ajfa-8136	533	42	t	t	PROPN
ajfa-8136	533	43	transaction	transaction	NOUN
ajfa-8136	533	44	is	be	AUX
ajfa-8136	533	45	a	a	DET
ajfa-8136	533	46	buy	buy	NOUN
ajfa-8136	533	47	and	and	CCONJ
ajfa-8136	533	48	-1	-1	X
ajfa-8136	533	49	if	if	SCONJ
ajfa-8136	533	50	it	it	PRON
ajfa-8136	533	51	is	be	AUX
ajfa-8136	533	52	a	a	DET
ajfa-8136	533	53	sell	sell	NOUN
ajfa-8136	533	54	.	.	PUNCT
ajfa-8136	534	1	u	u	NOUN
ajfa-8136	534	2	is	be	AUX
ajfa-8136	534	3	the	the	DET
ajfa-8136	534	4	disturbance	disturbance	NOUN
ajfa-8136	534	5	term	term	NOUN
ajfa-8136	534	6	trzcinka	trzcinka	PROPN
ajfa-8136	534	7	et	et	PROPN
ajfa-8136	534	8	al	al	PROPN
ajfa-8136	534	9	.	.	PROPN
ajfa-8136	535	1	(	(	PUNCT
ajfa-8136	535	2	2011	2011	NUM
ajfa-8136	535	3	)	)	PUNCT
ajfa-8136	535	4	fht	fht	VERB
ajfa-8136	536	1	≡	≡	PROPN
ajfa-8136	536	2	s	s	PART
ajfa-8136	537	1	=	=	PUNCT
ajfa-8136	537	2	2σn	2σn	ADJ
ajfa-8136	537	3	1	1	NUM
ajfa-8136	537	4	+	+	PUNCT
ajfa-8136	537	5	z2	z2	NOUN
ajfa-8136	537	6	where	where	SCONJ
ajfa-8136	537	7	s	s	VERB
ajfa-8136	537	8	is	be	AUX
ajfa-8136	537	9	the	the	DET
ajfa-8136	537	10	round	round	ADJ
ajfa-8136	537	11	-	-	PUNCT
ajfa-8136	537	12	trip	trip	NOUN
ajfa-8136	537	13	,	,	PUNCT
ajfa-8136	537	14	percent	percent	NOUN
ajfa-8136	537	15	transaction	transaction	NOUN
ajfa-8136	537	16	cost	cost	NOUN
ajfa-8136	537	17	.	.	PUNCT
ajfa-8136	538	1	amihud	amihud	PROPN
ajfa-8136	538	2	(	(	PUNCT
ajfa-8136	538	3	2002	2002	NUM
ajfa-8136	538	4	)	)	PUNCT
ajfa-8136	538	5	amihud	amihud	NOUN
ajfa-8136	539	1	=	=	SYM
ajfa-8136	539	2	average	average	ADJ
ajfa-8136	539	3	|	|	ADV
ajfa-8136	540	1	|	|	ADV
ajfa-8136	540	2	,	,	PUNCT
ajfa-8136	540	3	where	where	SCONJ
ajfa-8136	540	4	r	r	NOUN
ajfa-8136	540	5	is	be	AUX
ajfa-8136	540	6	the	the	DET
ajfa-8136	540	7	stock	stock	NOUN
ajfa-8136	540	8	return	return	NOUN
ajfa-8136	540	9	on	on	ADP
ajfa-8136	540	10	day	day	NOUN
ajfa-8136	540	11	t	t	NOUN
ajfa-8136	540	12	and	and	CCONJ
ajfa-8136	540	13	volume	volume	NOUN
ajfa-8136	540	14	is	be	AUX
ajfa-8136	540	15	the	the	DET
ajfa-8136	540	16	currency	currency	NOUN
ajfa-8136	540	17	value	value	NOUN
ajfa-8136	540	18	of	of	ADP
ajfa-8136	540	19	volume	volume	NOUN
ajfa-8136	540	20	on	on	ADP
ajfa-8136	540	21	day	day	NOUN
ajfa-8136	540	22	t	t	PROPN
ajfa-8136	540	23	in	in	ADP
ajfa-8136	540	24	units	unit	NOUN
ajfa-8136	540	25	of	of	ADP
ajfa-8136	540	26	local	local	ADJ
ajfa-8136	540	27	currency	currency	NOUN
ajfa-8136	540	28	.	.	PUNCT
ajfa-8136	541	1	goyenko	goyenko	PROPN
ajfa-8136	541	2	,	,	PUNCT
ajfa-8136	541	3	holden	holden	PROPN
ajfa-8136	541	4	,	,	PUNCT
ajfa-8136	541	5	and	and	CCONJ
ajfa-8136	541	6	trzcinka	trzcinka	NOUN
ajfa-8136	541	7	(	(	PUNCT
ajfa-8136	541	8	2009	2009	NUM
ajfa-8136	541	9	)	)	PUNCT
ajfa-8136	541	10	extended	extend	VERB
ajfa-8136	541	11	amihud	amihud	ADJ
ajfa-8136	541	12	proxy	proxy	NOUN
ajfa-8136	541	13	=	=	NOUN
ajfa-8136	541	14	percent	percent	NOUN
ajfa-8136	541	15	cost	cost	NOUN
ajfa-8136	541	16	proxyaverage	proxyaverage	NOUN
ajfa-8136	541	17	daily	daily	ADJ
ajfa-8136	541	18	current	current	ADJ
ajfa-8136	541	19	volume	volume	NOUN
ajfa-8136	541	20	pastor	pastor	NOUN
ajfa-8136	541	21	and	and	CCONJ
ajfa-8136	541	22	stambaugh	stambaugh	NOUN
ajfa-8136	541	23	(	(	PUNCT
ajfa-8136	541	24	2002	2002	NUM
ajfa-8136	541	25	)	)	PUNCT
ajfa-8136	541	26	pastor	pastor	NOUN
ajfa-8136	541	27	and	and	CCONJ
ajfa-8136	541	28	stambaugh	stambaugh	NOUN
ajfa-8136	541	29	=	=	PUNCT
ajfa-8136	541	30	г	г	PROPN
ajfa-8136	541	31	,	,	PUNCT
ajfa-8136	541	32	from	from	ADP
ajfa-8136	541	33	the	the	DET
ajfa-8136	541	34	regression	regression	NOUN
ajfa-8136	541	35	:	:	PUNCT
ajfa-8136	541	36	r	r	NOUN
ajfa-8136	541	37	=	=	SYM
ajfa-8136	541	38	θ	θ	X
ajfa-8136	541	39	+	+	CCONJ
ajfa-8136	541	40	∅r	∅r	NOUN
ajfa-8136	541	41	+	+	CCONJ
ajfa-8136	541	42	гsign(r	гsign(r	NOUN
ajfa-8136	541	43	)	)	PUNCT
ajfa-8136	541	44	(	(	PUNCT
ajfa-8136	541	45	volume	volume	NOUN
ajfa-8136	541	46	)	)	PUNCT
ajfa-8136	542	1	+	+	CCONJ
ajfa-8136	542	2	ε	ε	PROPN
ajfa-8136	542	3	,	,	PUNCT
ajfa-8136	542	4	where	where	SCONJ
ajfa-8136	542	5	r	r	NOUN
ajfa-8136	542	6	is	be	AUX
ajfa-8136	542	7	the	the	DET
ajfa-8136	542	8	stock	stock	NOUN
ajfa-8136	542	9	’s	’s	PART
ajfa-8136	542	10	excess	excess	ADJ
ajfa-8136	542	11	return	return	NOUN
ajfa-8136	542	12	above	above	ADP
ajfa-8136	542	13	the	the	DET
ajfa-8136	542	14	crsp	crsp	ADJ
ajfa-8136	542	15	vwmr	vwmr	NOUN
ajfa-8136	542	16	on	on	ADP
ajfa-8136	542	17	day	day	PROPN
ajfa-8136	542	18	t	t	PROPN
ajfa-8136	542	19	,	,	PUNCT
ajfa-8136	542	20	is	be	AUX
ajfa-8136	542	21	the	the	DET
ajfa-8136	542	22	intercept	intercept	NOUN
ajfa-8136	542	23	,	,	PUNCT
ajfa-8136	542	24	and	and	CCONJ
ajfa-8136	542	25	regression	regression	NOUN
ajfa-8136	542	26	coefficients	coefficient	NOUN
ajfa-8136	542	27	,	,	PUNCT
ajfa-8136	542	28	and	and	CCONJ
ajfa-8136	542	29	ε	ε	PROPN
ajfa-8136	542	30	is	be	AUX
ajfa-8136	542	31	the	the	DET
ajfa-8136	542	32	error	error	NOUN
ajfa-8136	542	33	term	term	NOUN
ajfa-8136	542	34	.	.	PUNCT
ajfa-8136	543	1	copper	copper	NOUN
ajfa-8136	543	2	(	(	PUNCT
ajfa-8136	543	3	1985	1985	NUM
ajfa-8136	543	4	)	)	PUNCT
ajfa-8136	543	5	amivest	amiv	ADJ
ajfa-8136	543	6	=	=	PUNCT
ajfa-8136	543	7	average	average	ADJ
ajfa-8136	543	8	volume|r	volume|r	NOUN
ajfa-8136	543	9	|	|	ADV
ajfa-8136	543	10	source	source	NOUN
ajfa-8136	543	11	:	:	PUNCT
ajfa-8136	543	12	compiled	compile	VERB
ajfa-8136	543	13	by	by	ADP
ajfa-8136	543	14	authors	author	NOUN
ajfa-8136	543	15	from	from	ADP
ajfa-8136	543	16	cited	cite	VERB
ajfa-8136	543	17	research	research	NOUN
ajfa-8136	543	18	articles	article	NOUN