id	sid	tid	token	lemma	pos
ajfa-82	1	1	asian	asian	ADJ
ajfa-82	1	2	journal	journal	PROPN
ajfa-82	1	3	of	of	ADP
ajfa-82	1	4	finance	finance	PROPN
ajfa-82	1	5	&	&	CCONJ
ajfa-82	1	6	accounting	accounting	PROPN
ajfa-82	1	7	issn	issn	PROPN
ajfa-82	1	8	1946	1946	NUM
ajfa-82	1	9	-	-	PUNCT
ajfa-82	1	10	052x	052x	NOUN
ajfa-82	1	11	2009	2009	NUM
ajfa-82	1	12	,	,	PUNCT
ajfa-82	1	13	vol	vol	NOUN
ajfa-82	1	14	.	.	PROPN
ajfa-82	1	15	1	1	NUM
ajfa-82	1	16	,	,	PUNCT
ajfa-82	1	17	no	no	INTJ
ajfa-82	1	18	.	.	NOUN
ajfa-82	1	19	1	1	NUM
ajfa-82	1	20	:	:	PUNCT
ajfa-82	1	21	e1	e1	VERB
ajfa-82	1	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	1	23	54	54	NUM
ajfa-82	1	24	are	be	AUX
ajfa-82	1	25	larger	large	ADJ
ajfa-82	1	26	self	self	NOUN
ajfa-82	1	27	-	-	PUNCT
ajfa-82	1	28	managed	manage	VERB
ajfa-82	1	29	superannuation	superannuation	NOUN
ajfa-82	1	30	funds	fund	NOUN
ajfa-82	1	31	riskier	risky	ADJ
ajfa-82	1	32	?	?	PUNCT
ajfa-82	2	1	peter	peter	PROPN
ajfa-82	2	2	j	j	PROPN
ajfa-82	2	3	phillips	phillips	PROPN
ajfa-82	2	4	school	school	PROPN
ajfa-82	2	5	of	of	ADP
ajfa-82	2	6	accounting	accounting	NOUN
ajfa-82	2	7	,	,	PUNCT
ajfa-82	2	8	economics	economic	NOUN
ajfa-82	2	9	and	and	CCONJ
ajfa-82	2	10	finance	finance	PROPN
ajfa-82	2	11	university	university	PROPN
ajfa-82	2	12	of	of	ADP
ajfa-82	2	13	southern	southern	PROPN
ajfa-82	2	14	queensland	queensland	PROPN
ajfa-82	2	15	west	west	PROPN
ajfa-82	2	16	street	street	PROPN
ajfa-82	2	17	,	,	PUNCT
ajfa-82	2	18	toowoomba	toowoomba	PROPN
ajfa-82	2	19	,	,	PUNCT
ajfa-82	2	20	queensland	queensland	PROPN
ajfa-82	2	21	,	,	PUNCT
ajfa-82	2	22	australia	australia	PROPN
ajfa-82	2	23	4350	4350	NUM
ajfa-82	2	24	tel	tel	PROPN
ajfa-82	2	25	:	:	PUNCT
ajfa-82	2	26	617	617	NUM
ajfa-82	2	27	46	46	NUM
ajfa-82	2	28	315490	315490	NUM
ajfa-82	2	29	email	email	NOUN
ajfa-82	2	30	:	:	PUNCT
ajfa-82	2	31	peter.phillips@usq.edu.au	peter.phillips@usq.edu.au	ADJ
ajfa-82	2	32	abstract	abstract	NOUN
ajfa-82	2	33	in	in	ADP
ajfa-82	2	34	this	this	DET
ajfa-82	2	35	paper	paper	NOUN
ajfa-82	2	36	,	,	PUNCT
ajfa-82	2	37	we	we	PRON
ajfa-82	2	38	examine	examine	VERB
ajfa-82	2	39	the	the	DET
ajfa-82	2	40	relationship	relationship	NOUN
ajfa-82	2	41	between	between	ADP
ajfa-82	2	42	the	the	DET
ajfa-82	2	43	portfolio	portfolio	NOUN
ajfa-82	2	44	size	size	NOUN
ajfa-82	2	45	and	and	CCONJ
ajfa-82	2	46	allocation	allocation	NOUN
ajfa-82	2	47	to	to	ADP
ajfa-82	2	48	risky	risky	ADJ
ajfa-82	2	49	assets	asset	NOUN
ajfa-82	2	50	that	that	PRON
ajfa-82	2	51	characterises	characterise	VERB
ajfa-82	2	52	self	self	NOUN
ajfa-82	2	53	managed	manage	VERB
ajfa-82	2	54	superannuation	superannuation	NOUN
ajfa-82	2	55	funds	fund	NOUN
ajfa-82	2	56	(	(	PUNCT
ajfa-82	2	57	smsfs	smsfs	NOUN
ajfa-82	2	58	)	)	PUNCT
ajfa-82	2	59	.	.	PUNCT
ajfa-82	3	1	in	in	ADP
ajfa-82	3	2	particular	particular	ADJ
ajfa-82	3	3	,	,	PUNCT
ajfa-82	3	4	we	we	PRON
ajfa-82	3	5	investigate	investigate	VERB
ajfa-82	3	6	whether	whether	SCONJ
ajfa-82	3	7	the	the	DET
ajfa-82	3	8	allocation	allocation	NOUN
ajfa-82	3	9	to	to	ADP
ajfa-82	3	10	risky	risky	ADJ
ajfa-82	3	11	assets	asset	NOUN
ajfa-82	3	12	is	be	AUX
ajfa-82	3	13	higher	high	ADJ
ajfa-82	3	14	for	for	ADP
ajfa-82	3	15	higher	high	ADJ
ajfa-82	3	16	valued	value	VERB
ajfa-82	3	17	smsfs	smsfs	ADV
ajfa-82	3	18	.	.	PUNCT
ajfa-82	4	1	at	at	ADP
ajfa-82	4	2	this	this	DET
ajfa-82	4	3	early	early	ADJ
ajfa-82	4	4	stage	stage	NOUN
ajfa-82	4	5	of	of	ADP
ajfa-82	4	6	smsf	smsf	PROPN
ajfa-82	4	7	research	research	VERB
ajfa-82	4	8	the	the	DET
ajfa-82	4	9	gathering	gathering	NOUN
ajfa-82	4	10	of	of	ADP
ajfa-82	4	11	facts	fact	NOUN
ajfa-82	4	12	about	about	ADP
ajfa-82	4	13	these	these	DET
ajfa-82	4	14	economic	economic	ADJ
ajfa-82	4	15	entities	entity	NOUN
ajfa-82	4	16	is	be	AUX
ajfa-82	4	17	necessary	necessary	ADJ
ajfa-82	4	18	to	to	PART
ajfa-82	4	19	guide	guide	VERB
ajfa-82	4	20	policy	policy	NOUN
ajfa-82	4	21	makers	maker	NOUN
ajfa-82	4	22	and	and	CCONJ
ajfa-82	4	23	regulators	regulator	NOUN
ajfa-82	4	24	.	.	PUNCT
ajfa-82	5	1	this	this	DET
ajfa-82	5	2	study	study	NOUN
ajfa-82	5	3	contributes	contribute	VERB
ajfa-82	5	4	to	to	ADP
ajfa-82	5	5	this	this	DET
ajfa-82	5	6	small	small	ADJ
ajfa-82	5	7	but	but	CCONJ
ajfa-82	5	8	growing	grow	VERB
ajfa-82	5	9	body	body	NOUN
ajfa-82	5	10	of	of	ADP
ajfa-82	5	11	factual	factual	ADJ
ajfa-82	5	12	knowledge	knowledge	NOUN
ajfa-82	5	13	regarding	regard	VERB
ajfa-82	5	14	the	the	DET
ajfa-82	5	15	microstructure	microstructure	NOUN
ajfa-82	5	16	of	of	ADP
ajfa-82	5	17	smsfs	smsfs	PROPN
ajfa-82	5	18	in	in	ADP
ajfa-82	5	19	australia	australia	PROPN
ajfa-82	5	20	.	.	PUNCT
ajfa-82	6	1	the	the	DET
ajfa-82	6	2	results	result	NOUN
ajfa-82	6	3	show	show	VERB
ajfa-82	6	4	that	that	SCONJ
ajfa-82	6	5	the	the	DET
ajfa-82	6	6	percentage	percentage	NOUN
ajfa-82	6	7	of	of	ADP
ajfa-82	6	8	the	the	DET
ajfa-82	6	9	portfolios‟	portfolios‟	PROPN
ajfa-82	6	10	investable	investable	ADJ
ajfa-82	6	11	funds	fund	NOUN
ajfa-82	6	12	allocated	allocate	VERB
ajfa-82	6	13	to	to	ADP
ajfa-82	6	14	risky	risky	ADJ
ajfa-82	6	15	assets	asset	NOUN
ajfa-82	6	16	has	have	VERB
ajfa-82	6	17	no	no	DET
ajfa-82	6	18	clearly	clearly	ADV
ajfa-82	6	19	defined	define	VERB
ajfa-82	6	20	relationship	relationship	NOUN
ajfa-82	6	21	with	with	ADP
ajfa-82	6	22	portfolio	portfolio	NOUN
ajfa-82	6	23	size	size	NOUN
ajfa-82	6	24	.	.	PUNCT
ajfa-82	7	1	a	a	DET
ajfa-82	7	2	high	high	ADJ
ajfa-82	7	3	net	net	ADJ
ajfa-82	7	4	worth	worth	ADJ
ajfa-82	7	5	smsf	smsf	PROPN
ajfa-82	7	6	will	will	AUX
ajfa-82	7	7	,	,	PUNCT
ajfa-82	7	8	on	on	ADP
ajfa-82	7	9	average	average	ADJ
ajfa-82	7	10	,	,	PUNCT
ajfa-82	7	11	have	have	VERB
ajfa-82	7	12	a	a	DET
ajfa-82	7	13	greater	great	ADJ
ajfa-82	7	14	absolute	absolute	ADJ
ajfa-82	7	15	dollar	dollar	NOUN
ajfa-82	7	16	amount	amount	NOUN
ajfa-82	7	17	invested	invest	VERB
ajfa-82	7	18	in	in	ADP
ajfa-82	7	19	risky	risky	ADJ
ajfa-82	7	20	assets	asset	NOUN
ajfa-82	7	21	but	but	CCONJ
ajfa-82	7	22	the	the	DET
ajfa-82	7	23	portfolio	portfolio	NOUN
ajfa-82	7	24	weightings	weighting	NOUN
ajfa-82	7	25	may	may	AUX
ajfa-82	7	26	be	be	AUX
ajfa-82	7	27	such	such	ADJ
ajfa-82	7	28	that	that	SCONJ
ajfa-82	7	29	a	a	DET
ajfa-82	7	30	high	high	ADJ
ajfa-82	7	31	valued	value	VERB
ajfa-82	7	32	fund	fund	NOUN
ajfa-82	7	33	has	have	VERB
ajfa-82	7	34	a	a	DET
ajfa-82	7	35	lower	low	ADJ
ajfa-82	7	36	percentage	percentage	NOUN
ajfa-82	7	37	of	of	ADP
ajfa-82	7	38	its	its	PRON
ajfa-82	7	39	portfolio	portfolio	NOUN
ajfa-82	7	40	invested	invest	VERB
ajfa-82	7	41	in	in	ADP
ajfa-82	7	42	risky	risky	ADJ
ajfa-82	7	43	assets	asset	NOUN
ajfa-82	7	44	than	than	ADP
ajfa-82	7	45	a	a	DET
ajfa-82	7	46	much	much	ADV
ajfa-82	7	47	smaller	small	ADJ
ajfa-82	7	48	fund	fund	NOUN
ajfa-82	7	49	.	.	PUNCT
ajfa-82	8	1	there	there	PRON
ajfa-82	8	2	is	be	VERB
ajfa-82	8	3	not	not	PART
ajfa-82	8	4	a	a	DET
ajfa-82	8	5	strong	strong	ADJ
ajfa-82	8	6	tendency	tendency	NOUN
ajfa-82	8	7	for	for	ADP
ajfa-82	8	8	higher	high	ADJ
ajfa-82	8	9	net	net	ADJ
ajfa-82	8	10	worth	worth	NOUN
ajfa-82	8	11	smsfs	smsfs	ADV
ajfa-82	8	12	to	to	PART
ajfa-82	8	13	bear	bear	VERB
ajfa-82	8	14	greater	great	ADJ
ajfa-82	8	15	risk	risk	NOUN
ajfa-82	8	16	through	through	ADP
ajfa-82	8	17	increasing	increase	VERB
ajfa-82	8	18	allocations	allocation	NOUN
ajfa-82	8	19	to	to	ADP
ajfa-82	8	20	risky	risky	ADJ
ajfa-82	8	21	assets	asset	NOUN
ajfa-82	8	22	but	but	CCONJ
ajfa-82	8	23	there	there	PRON
ajfa-82	8	24	is	be	VERB
ajfa-82	8	25	,	,	PUNCT
ajfa-82	8	26	nevertheless	nevertheless	ADV
ajfa-82	8	27	,	,	PUNCT
ajfa-82	8	28	a	a	DET
ajfa-82	8	29	tendency	tendency	NOUN
ajfa-82	8	30	for	for	ADP
ajfa-82	8	31	higher	high	ADJ
ajfa-82	8	32	net	net	ADJ
ajfa-82	8	33	worth	worth	NOUN
ajfa-82	8	34	smsfs	smsfs	ADV
ajfa-82	8	35	to	to	PART
ajfa-82	8	36	have	have	AUX
ajfa-82	8	37	higher	high	ADJ
ajfa-82	8	38	allocations	allocation	NOUN
ajfa-82	8	39	to	to	ADP
ajfa-82	8	40	risky	risky	ADJ
ajfa-82	8	41	assets	asset	NOUN
ajfa-82	8	42	.	.	PUNCT
ajfa-82	9	1	keywords	keyword	NOUN
ajfa-82	9	2	:	:	PUNCT
ajfa-82	9	3	self	self	NOUN
ajfa-82	9	4	managed	manage	VERB
ajfa-82	9	5	superannuation	superannuation	NOUN
ajfa-82	9	6	,	,	PUNCT
ajfa-82	9	7	net	net	ADJ
ajfa-82	9	8	worth	worth	NOUN
ajfa-82	9	9	,	,	PUNCT
ajfa-82	9	10	risk	risk	NOUN
ajfa-82	9	11	jel	jel	PROPN
ajfa-82	9	12	classifications	classification	NOUN
ajfa-82	9	13	:	:	PUNCT
ajfa-82	9	14	g11	g11	PROPN
ajfa-82	9	15	,	,	PUNCT
ajfa-82	9	16	g23	g23	NOUN
ajfa-82	9	17	,	,	PUNCT
ajfa-82	9	18	g28	g28	VERB
ajfa-82	9	19	asian	asian	ADJ
ajfa-82	9	20	journal	journal	NOUN
ajfa-82	9	21	of	of	ADP
ajfa-82	9	22	finance	finance	PROPN
ajfa-82	9	23	&	&	CCONJ
ajfa-82	9	24	accounting	accounting	PROPN
ajfa-82	9	25	issn	issn	PROPN
ajfa-82	9	26	1946	1946	NUM
ajfa-82	9	27	-	-	PUNCT
ajfa-82	9	28	052x	052x	NOUN
ajfa-82	9	29	2009	2009	NUM
ajfa-82	9	30	,	,	PUNCT
ajfa-82	9	31	vol	vol	NOUN
ajfa-82	9	32	.	.	PROPN
ajfa-82	10	1	1	1	NUM
ajfa-82	10	2	,	,	PUNCT
ajfa-82	10	3	no	no	INTJ
ajfa-82	10	4	.	.	NOUN
ajfa-82	10	5	1	1	NUM
ajfa-82	10	6	:	:	PUNCT
ajfa-82	10	7	e1	e1	VERB
ajfa-82	10	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	10	9	55	55	NUM
ajfa-82	10	10	1	1	NUM
ajfa-82	10	11	.	.	PUNCT
ajfa-82	11	1	introduction	introduction	NOUN
ajfa-82	11	2	self	self	NOUN
ajfa-82	11	3	managed	manage	VERB
ajfa-82	11	4	superannuation	superannuation	NOUN
ajfa-82	11	5	funds	fund	NOUN
ajfa-82	11	6	(	(	PUNCT
ajfa-82	11	7	smsfs	smsfs	ADV
ajfa-82	11	8	)	)	PUNCT
ajfa-82	11	9	are	be	AUX
ajfa-82	11	10	retirement	retirement	NOUN
ajfa-82	11	11	or	or	CCONJ
ajfa-82	11	12	pension	pension	NOUN
ajfa-82	11	13	savings	saving	NOUN
ajfa-82	11	14	funds	fund	NOUN
ajfa-82	11	15	that	that	PRON
ajfa-82	11	16	are	be	AUX
ajfa-82	11	17	managed	manage	VERB
ajfa-82	11	18	by	by	ADP
ajfa-82	11	19	the	the	DET
ajfa-82	11	20	owners	owner	NOUN
ajfa-82	11	21	or	or	CCONJ
ajfa-82	11	22	trustees	trustee	NOUN
ajfa-82	11	23	of	of	ADP
ajfa-82	11	24	the	the	DET
ajfa-82	11	25	funds	fund	NOUN
ajfa-82	11	26	.	.	PUNCT
ajfa-82	12	1	these	these	PRON
ajfa-82	12	2	are	be	AUX
ajfa-82	12	3	generally	generally	ADV
ajfa-82	12	4	non	non	ADJ
ajfa-82	12	5	-	-	ADJ
ajfa-82	12	6	professional	professional	ADJ
ajfa-82	12	7	investors	investor	NOUN
ajfa-82	12	8	.	.	PUNCT
ajfa-82	13	1	since	since	SCONJ
ajfa-82	13	2	a	a	DET
ajfa-82	13	3	smsf	smsf	PROPN
ajfa-82	13	4	is	be	AUX
ajfa-82	13	5	a	a	DET
ajfa-82	13	6	retirement	retirement	NOUN
ajfa-82	13	7	fund	fund	NOUN
ajfa-82	13	8	for	for	ADP
ajfa-82	13	9	five	five	NUM
ajfa-82	13	10	or	or	CCONJ
ajfa-82	13	11	fewer	few	ADJ
ajfa-82	13	12	members	member	NOUN
ajfa-82	13	13	,	,	PUNCT
ajfa-82	13	14	each	each	DET
ajfa-82	13	15	smsf	smsf	NOUN
ajfa-82	13	16	represents	represent	VERB
ajfa-82	13	17	the	the	DET
ajfa-82	13	18	savings	saving	NOUN
ajfa-82	13	19	of	of	ADP
ajfa-82	13	20	a	a	DET
ajfa-82	13	21	small	small	ADJ
ajfa-82	13	22	group	group	NOUN
ajfa-82	13	23	of	of	ADP
ajfa-82	13	24	family	family	NOUN
ajfa-82	13	25	or	or	CCONJ
ajfa-82	13	26	friends	friend	NOUN
ajfa-82	13	27	.	.	PUNCT
ajfa-82	14	1	the	the	DET
ajfa-82	14	2	self	self	NOUN
ajfa-82	14	3	-	-	PUNCT
ajfa-82	14	4	managed	manage	VERB
ajfa-82	14	5	nature	nature	NOUN
ajfa-82	14	6	of	of	ADP
ajfa-82	14	7	these	these	DET
ajfa-82	14	8	entities	entity	NOUN
ajfa-82	14	9	raises	raise	VERB
ajfa-82	14	10	many	many	ADJ
ajfa-82	14	11	important	important	ADJ
ajfa-82	14	12	economic	economic	ADJ
ajfa-82	14	13	questions	question	NOUN
ajfa-82	14	14	.	.	PUNCT
ajfa-82	15	1	the	the	DET
ajfa-82	15	2	question	question	NOUN
ajfa-82	15	3	that	that	PRON
ajfa-82	15	4	is	be	AUX
ajfa-82	15	5	investigated	investigate	VERB
ajfa-82	15	6	in	in	ADP
ajfa-82	15	7	this	this	DET
ajfa-82	15	8	paper	paper	NOUN
ajfa-82	15	9	is	be	AUX
ajfa-82	15	10	:	:	PUNCT
ajfa-82	15	11	do	do	AUX
ajfa-82	15	12	higher	higher	ADV
ajfa-82	15	13	valued	value	VERB
ajfa-82	15	14	smsfs	smsfs	ADV
ajfa-82	15	15	have	have	VERB
ajfa-82	15	16	higher	high	ADJ
ajfa-82	15	17	allocations	allocation	NOUN
ajfa-82	15	18	to	to	ADP
ajfa-82	15	19	risky	risky	ADJ
ajfa-82	15	20	assets	asset	NOUN
ajfa-82	15	21	?	?	PUNCT
ajfa-82	16	1	this	this	PRON
ajfa-82	16	2	is	be	AUX
ajfa-82	16	3	an	an	DET
ajfa-82	16	4	important	important	ADJ
ajfa-82	16	5	question	question	NOUN
ajfa-82	16	6	that	that	PRON
ajfa-82	16	7	can	can	AUX
ajfa-82	16	8	not	not	PART
ajfa-82	16	9	be	be	AUX
ajfa-82	16	10	answered	answer	VERB
ajfa-82	16	11	by	by	ADP
ajfa-82	16	12	referring	refer	VERB
ajfa-82	16	13	to	to	ADP
ajfa-82	16	14	the	the	DET
ajfa-82	16	15	australian	australian	ADJ
ajfa-82	16	16	taxation	taxation	NOUN
ajfa-82	16	17	office‟s	office‟s	SCONJ
ajfa-82	16	18	aggregated	aggregate	VERB
ajfa-82	16	19	smsf	smsf	PROPN
ajfa-82	16	20	data	data	PROPN
ajfa-82	16	21	.	.	PUNCT
ajfa-82	17	1	of	of	ADP
ajfa-82	17	2	course	course	ADV
ajfa-82	17	3	,	,	PUNCT
ajfa-82	17	4	it	it	PRON
ajfa-82	17	5	should	should	AUX
ajfa-82	17	6	be	be	AUX
ajfa-82	17	7	expected	expect	VERB
ajfa-82	17	8	that	that	SCONJ
ajfa-82	17	9	smsf	smsf	PROPN
ajfa-82	17	10	trustees	trustee	NOUN
ajfa-82	17	11	will	will	AUX
ajfa-82	17	12	allocate	allocate	VERB
ajfa-82	17	13	their	their	PRON
ajfa-82	17	14	investable	investable	ADJ
ajfa-82	17	15	funds	fund	NOUN
ajfa-82	17	16	between	between	ADP
ajfa-82	17	17	low	low	ADJ
ajfa-82	17	18	risk	risk	NOUN
ajfa-82	17	19	assets	asset	NOUN
ajfa-82	17	20	such	such	ADJ
ajfa-82	17	21	as	as	ADP
ajfa-82	17	22	cash	cash	NOUN
ajfa-82	17	23	and	and	CCONJ
ajfa-82	17	24	fixed	fix	VERB
ajfa-82	17	25	interest	interest	NOUN
ajfa-82	17	26	securities	security	NOUN
ajfa-82	17	27	and	and	CCONJ
ajfa-82	17	28	risky	risky	ADJ
ajfa-82	17	29	assets	asset	NOUN
ajfa-82	17	30	such	such	ADJ
ajfa-82	17	31	as	as	ADP
ajfa-82	17	32	shares	share	NOUN
ajfa-82	17	33	in	in	ADP
ajfa-82	17	34	a	a	DET
ajfa-82	17	35	manner	manner	NOUN
ajfa-82	17	36	that	that	PRON
ajfa-82	17	37	reflects	reflect	VERB
ajfa-82	17	38	their	their	PRON
ajfa-82	17	39	level	level	NOUN
ajfa-82	17	40	of	of	ADP
ajfa-82	17	41	risk	risk	NOUN
ajfa-82	17	42	aversion	aversion	NOUN
ajfa-82	17	43	.	.	PUNCT
ajfa-82	18	1	in	in	ADP
ajfa-82	18	2	this	this	DET
ajfa-82	18	3	case	case	NOUN
ajfa-82	18	4	,	,	PUNCT
ajfa-82	18	5	the	the	DET
ajfa-82	18	6	portfolio‟s	portfolio‟s	NOUN
ajfa-82	18	7	size	size	NOUN
ajfa-82	18	8	should	should	AUX
ajfa-82	18	9	not	not	PART
ajfa-82	18	10	be	be	AUX
ajfa-82	18	11	a	a	DET
ajfa-82	18	12	factor	factor	NOUN
ajfa-82	18	13	in	in	ADP
ajfa-82	18	14	determining	determine	VERB
ajfa-82	18	15	the	the	DET
ajfa-82	18	16	percentage	percentage	NOUN
ajfa-82	18	17	of	of	ADP
ajfa-82	18	18	the	the	DET
ajfa-82	18	19	portfolio‟s	portfolio‟	NOUN
ajfa-82	18	20	investable	investable	ADJ
ajfa-82	18	21	funds	fund	NOUN
ajfa-82	18	22	that	that	PRON
ajfa-82	18	23	will	will	AUX
ajfa-82	18	24	be	be	AUX
ajfa-82	18	25	allocated	allocate	VERB
ajfa-82	18	26	to	to	ADP
ajfa-82	18	27	risky	risky	ADJ
ajfa-82	18	28	assets	asset	NOUN
ajfa-82	18	29	.	.	PUNCT
ajfa-82	19	1	a	a	DET
ajfa-82	19	2	high	high	ADJ
ajfa-82	19	3	value	value	NOUN
ajfa-82	19	4	fund	fund	NOUN
ajfa-82	19	5	may	may	AUX
ajfa-82	19	6	just	just	ADV
ajfa-82	19	7	as	as	ADV
ajfa-82	19	8	likely	likely	ADV
ajfa-82	19	9	be	be	AUX
ajfa-82	19	10	allocated	allocate	VERB
ajfa-82	19	11	almost	almost	ADV
ajfa-82	19	12	entirely	entirely	ADV
ajfa-82	19	13	to	to	PART
ajfa-82	19	14	cash	cash	VERB
ajfa-82	19	15	as	as	ADP
ajfa-82	19	16	a	a	DET
ajfa-82	19	17	low	low	ADJ
ajfa-82	19	18	value	value	NOUN
ajfa-82	19	19	fund	fund	NOUN
ajfa-82	19	20	.	.	PUNCT
ajfa-82	20	1	the	the	DET
ajfa-82	20	2	only	only	ADJ
ajfa-82	20	3	way	way	NOUN
ajfa-82	20	4	to	to	PART
ajfa-82	20	5	empirically	empirically	ADV
ajfa-82	20	6	investigate	investigate	VERB
ajfa-82	20	7	the	the	DET
ajfa-82	20	8	relationship	relationship	NOUN
ajfa-82	20	9	between	between	ADP
ajfa-82	20	10	smsf	smsf	PROPN
ajfa-82	20	11	net	net	NOUN
ajfa-82	20	12	worth	worth	NOUN
ajfa-82	20	13	and	and	CCONJ
ajfa-82	20	14	allocation	allocation	NOUN
ajfa-82	20	15	to	to	ADP
ajfa-82	20	16	risky	risky	ADJ
ajfa-82	20	17	assets	asset	NOUN
ajfa-82	20	18	is	be	AUX
ajfa-82	20	19	by	by	ADP
ajfa-82	20	20	investigating	investigate	VERB
ajfa-82	20	21	the	the	DET
ajfa-82	20	22	portfolio	portfolio	NOUN
ajfa-82	20	23	structures	structure	NOUN
ajfa-82	20	24	of	of	ADP
ajfa-82	20	25	individual	individual	ADJ
ajfa-82	20	26	smsfs	smsfs	PROPN
ajfa-82	20	27	.	.	PUNCT
ajfa-82	21	1	we	we	PRON
ajfa-82	21	2	investigate	investigate	VERB
ajfa-82	21	3	this	this	DET
ajfa-82	21	4	relationship	relationship	NOUN
ajfa-82	21	5	using	use	VERB
ajfa-82	21	6	a	a	DET
ajfa-82	21	7	unique	unique	ADJ
ajfa-82	21	8	and	and	CCONJ
ajfa-82	21	9	pure	pure	ADJ
ajfa-82	21	10	dataset	dataset	NOUN
ajfa-82	21	11	consisting	consist	VERB
ajfa-82	21	12	of	of	ADP
ajfa-82	21	13	two	two	NUM
ajfa-82	21	14	independent	independent	ADJ
ajfa-82	21	15	samples	sample	NOUN
ajfa-82	21	16	of	of	ADP
ajfa-82	21	17	a	a	DET
ajfa-82	21	18	total	total	NOUN
ajfa-82	21	19	of	of	ADP
ajfa-82	21	20	141	141	NUM
ajfa-82	21	21	smsfs	smsfs	NOUN
ajfa-82	21	22	.	.	PUNCT
ajfa-82	22	1	the	the	DET
ajfa-82	22	2	implications	implication	NOUN
ajfa-82	22	3	of	of	ADP
ajfa-82	22	4	the	the	DET
ajfa-82	22	5	research	research	NOUN
ajfa-82	22	6	question	question	NOUN
ajfa-82	22	7	are	be	AUX
ajfa-82	22	8	significant	significant	ADJ
ajfa-82	22	9	.	.	PUNCT
ajfa-82	23	1	the	the	DET
ajfa-82	23	2	value	value	NOUN
ajfa-82	23	3	of	of	ADP
ajfa-82	23	4	savings	saving	NOUN
ajfa-82	23	5	contained	contain	VERB
ajfa-82	23	6	in	in	ADP
ajfa-82	23	7	self	self	NOUN
ajfa-82	23	8	managed	manage	VERB
ajfa-82	23	9	superannuation	superannuation	NOUN
ajfa-82	23	10	funds	fund	NOUN
ajfa-82	23	11	is	be	AUX
ajfa-82	23	12	approximately	approximately	ADV
ajfa-82	23	13	$	$	SYM
ajfa-82	23	14	300	300	NUM
ajfa-82	23	15	billion	billion	NUM
ajfa-82	23	16	.	.	PUNCT
ajfa-82	24	1	compulsory	compulsory	ADJ
ajfa-82	24	2	contributions	contribution	NOUN
ajfa-82	24	3	to	to	ADP
ajfa-82	24	4	superannuation	superannuation	NOUN
ajfa-82	24	5	increase	increase	NOUN
ajfa-82	24	6	this	this	PRON
ajfa-82	24	7	by	by	ADP
ajfa-82	24	8	a	a	DET
ajfa-82	24	9	considerable	considerable	ADJ
ajfa-82	24	10	amount	amount	NOUN
ajfa-82	24	11	each	each	DET
ajfa-82	24	12	year	year	NOUN
ajfa-82	24	13	.	.	PUNCT
ajfa-82	25	1	whilst	whilst	SCONJ
ajfa-82	25	2	there	there	PRON
ajfa-82	25	3	is	be	VERB
ajfa-82	25	4	no	no	DET
ajfa-82	25	5	intention	intention	NOUN
ajfa-82	25	6	to	to	PART
ajfa-82	25	7	draw	draw	VERB
ajfa-82	25	8	conclusions	conclusion	NOUN
ajfa-82	25	9	for	for	ADP
ajfa-82	25	10	the	the	DET
ajfa-82	25	11	general	general	ADJ
ajfa-82	25	12	population	population	NOUN
ajfa-82	25	13	of	of	ADP
ajfa-82	25	14	smsfs	smsfs	PROPN
ajfa-82	25	15	on	on	ADP
ajfa-82	25	16	the	the	DET
ajfa-82	25	17	basis	basis	NOUN
ajfa-82	25	18	of	of	ADP
ajfa-82	25	19	the	the	DET
ajfa-82	25	20	funds	fund	NOUN
ajfa-82	25	21	contained	contain	VERB
ajfa-82	25	22	in	in	ADP
ajfa-82	25	23	this	this	DET
ajfa-82	25	24	sample	sample	NOUN
ajfa-82	25	25	,	,	PUNCT
ajfa-82	25	26	this	this	DET
ajfa-82	25	27	investigation	investigation	NOUN
ajfa-82	25	28	provides	provide	VERB
ajfa-82	25	29	some	some	PRON
ajfa-82	25	30	of	of	ADP
ajfa-82	25	31	the	the	DET
ajfa-82	25	32	first	first	ADJ
ajfa-82	25	33	pieces	piece	NOUN
ajfa-82	25	34	of	of	ADP
ajfa-82	25	35	information	information	NOUN
ajfa-82	25	36	regarding	regard	VERB
ajfa-82	25	37	the	the	DET
ajfa-82	25	38	relationship	relationship	NOUN
ajfa-82	25	39	between	between	ADP
ajfa-82	25	40	fund	fund	NOUN
ajfa-82	25	41	size	size	NOUN
ajfa-82	25	42	and	and	CCONJ
ajfa-82	25	43	allocation	allocation	NOUN
ajfa-82	25	44	to	to	ADP
ajfa-82	25	45	risky	risky	ADJ
ajfa-82	25	46	assets	asset	NOUN
ajfa-82	25	47	.	.	PUNCT
ajfa-82	26	1	this	this	PRON
ajfa-82	26	2	is	be	AUX
ajfa-82	26	3	important	important	ADJ
ajfa-82	26	4	for	for	ADP
ajfa-82	26	5	the	the	DET
ajfa-82	26	6	policy	policy	NOUN
ajfa-82	26	7	makers	maker	NOUN
ajfa-82	26	8	and	and	CCONJ
ajfa-82	26	9	regulators	regulator	NOUN
ajfa-82	26	10	who	who	PRON
ajfa-82	26	11	are	be	AUX
ajfa-82	26	12	charged	charge	VERB
ajfa-82	26	13	with	with	ADP
ajfa-82	26	14	the	the	DET
ajfa-82	26	15	responsibility	responsibility	NOUN
ajfa-82	26	16	of	of	ADP
ajfa-82	26	17	overseeing	oversee	VERB
ajfa-82	26	18	the	the	DET
ajfa-82	26	19	management	management	NOUN
ajfa-82	26	20	of	of	ADP
ajfa-82	26	21	smsfs	smsfs	PROPN
ajfa-82	26	22	.	.	PUNCT
ajfa-82	27	1	in	in	ADP
ajfa-82	27	2	addition	addition	NOUN
ajfa-82	27	3	,	,	PUNCT
ajfa-82	27	4	preliminary	preliminary	ADJ
ajfa-82	27	5	studies	study	NOUN
ajfa-82	27	6	of	of	ADP
ajfa-82	27	7	this	this	DET
ajfa-82	27	8	sort	sort	NOUN
ajfa-82	27	9	provide	provide	VERB
ajfa-82	27	10	the	the	DET
ajfa-82	27	11	foundations	foundation	NOUN
ajfa-82	27	12	for	for	ADP
ajfa-82	27	13	further	further	ADJ
ajfa-82	27	14	economic	economic	ADJ
ajfa-82	27	15	analysis	analysis	NOUN
ajfa-82	27	16	of	of	ADP
ajfa-82	27	17	the	the	DET
ajfa-82	27	18	self	self	NOUN
ajfa-82	27	19	managed	manage	VERB
ajfa-82	27	20	superannuation	superannuation	NOUN
ajfa-82	27	21	phenomenon	phenomenon	NOUN
ajfa-82	27	22	and	and	CCONJ
ajfa-82	27	23	its	its	PRON
ajfa-82	27	24	implications	implication	NOUN
ajfa-82	27	25	for	for	ADP
ajfa-82	27	26	australia‟s	australia‟s	ADJ
ajfa-82	27	27	retirement	retirement	NOUN
ajfa-82	27	28	income	income	NOUN
ajfa-82	27	29	stream	stream	NOUN
ajfa-82	27	30	.	.	PUNCT
ajfa-82	28	1	in	in	ADP
ajfa-82	28	2	this	this	DET
ajfa-82	28	3	paper	paper	NOUN
ajfa-82	28	4	,	,	PUNCT
ajfa-82	28	5	the	the	DET
ajfa-82	28	6	relationship	relationship	NOUN
ajfa-82	28	7	between	between	ADP
ajfa-82	28	8	smsf	smsf	PROPN
ajfa-82	28	9	net	net	NOUN
ajfa-82	28	10	worth	worth	NOUN
ajfa-82	28	11	and	and	CCONJ
ajfa-82	28	12	allocation	allocation	NOUN
ajfa-82	28	13	to	to	ADP
ajfa-82	28	14	risky	risky	ADJ
ajfa-82	28	15	assets	asset	NOUN
ajfa-82	28	16	is	be	AUX
ajfa-82	28	17	explored	explore	VERB
ajfa-82	28	18	.	.	PUNCT
ajfa-82	29	1	two	two	NUM
ajfa-82	29	2	independent	independent	ADJ
ajfa-82	29	3	samples	sample	NOUN
ajfa-82	29	4	of	of	ADP
ajfa-82	29	5	smsfs	smsfs	NOUN
ajfa-82	29	6	are	be	AUX
ajfa-82	29	7	available	available	ADJ
ajfa-82	29	8	for	for	ADP
ajfa-82	29	9	this	this	DET
ajfa-82	29	10	study	study	NOUN
ajfa-82	29	11	—	—	PUNCT
ajfa-82	29	12	one	one	NUM
ajfa-82	29	13	consisting	consist	VERB
ajfa-82	29	14	of	of	ADP
ajfa-82	29	15	100	100	NUM
ajfa-82	29	16	portfolios	portfolio	NOUN
ajfa-82	29	17	and	and	CCONJ
ajfa-82	29	18	one	one	NUM
ajfa-82	29	19	consisting	consist	VERB
ajfa-82	29	20	of	of	ADP
ajfa-82	29	21	41	41	NUM
ajfa-82	29	22	portfolios	portfolio	NOUN
ajfa-82	29	23	.	.	PUNCT
ajfa-82	30	1	in	in	ADP
ajfa-82	30	2	the	the	DET
ajfa-82	30	3	context	context	NOUN
ajfa-82	30	4	of	of	ADP
ajfa-82	30	5	smsf	smsf	PROPN
ajfa-82	30	6	research	research	NOUN
ajfa-82	30	7	this	this	DET
ajfa-82	30	8	sample	sample	NOUN
ajfa-82	30	9	size	size	NOUN
ajfa-82	30	10	is	be	AUX
ajfa-82	30	11	quite	quite	ADV
ajfa-82	30	12	significant	significant	ADJ
ajfa-82	30	13	and	and	CCONJ
ajfa-82	30	14	the	the	DET
ajfa-82	30	15	independent	independent	ADJ
ajfa-82	30	16	nature	nature	NOUN
ajfa-82	30	17	of	of	ADP
ajfa-82	30	18	the	the	DET
ajfa-82	30	19	two	two	NUM
ajfa-82	30	20	samples	sample	NOUN
ajfa-82	30	21	adds	add	VERB
ajfa-82	30	22	a	a	DET
ajfa-82	30	23	degree	degree	NOUN
ajfa-82	30	24	of	of	ADP
ajfa-82	30	25	rigour	rigour	NOUN
ajfa-82	30	26	to	to	ADP
ajfa-82	30	27	the	the	DET
ajfa-82	30	28	investigation	investigation	NOUN
ajfa-82	30	29	.	.	PUNCT
ajfa-82	31	1	in	in	ADP
ajfa-82	31	2	order	order	NOUN
ajfa-82	31	3	to	to	PART
ajfa-82	31	4	examine	examine	VERB
ajfa-82	31	5	the	the	DET
ajfa-82	31	6	relationship	relationship	NOUN
ajfa-82	31	7	between	between	ADP
ajfa-82	31	8	net	net	ADJ
ajfa-82	31	9	worth	worth	NOUN
ajfa-82	31	10	and	and	CCONJ
ajfa-82	31	11	allocations	allocation	NOUN
ajfa-82	31	12	to	to	ADP
ajfa-82	31	13	risky	risky	ADJ
ajfa-82	31	14	assets	asset	NOUN
ajfa-82	31	15	,	,	PUNCT
ajfa-82	31	16	the	the	DET
ajfa-82	31	17	funds	fund	NOUN
ajfa-82	31	18	in	in	ADP
ajfa-82	31	19	each	each	DET
ajfa-82	31	20	sample	sample	NOUN
ajfa-82	31	21	are	be	AUX
ajfa-82	31	22	separated	separate	VERB
ajfa-82	31	23	into	into	ADP
ajfa-82	31	24	various	various	ADJ
ajfa-82	31	25	categories	category	NOUN
ajfa-82	31	26	of	of	ADP
ajfa-82	31	27	net	net	ADJ
ajfa-82	31	28	worth	worth	NOUN
ajfa-82	31	29	.	.	PUNCT
ajfa-82	32	1	the	the	DET
ajfa-82	32	2	allocations	allocation	NOUN
ajfa-82	32	3	to	to	ADP
ajfa-82	32	4	risky	risky	ADJ
ajfa-82	32	5	assets	asset	NOUN
ajfa-82	32	6	that	that	PRON
ajfa-82	32	7	characterise	characterise	VERB
ajfa-82	32	8	the	the	DET
ajfa-82	32	9	funds	fund	NOUN
ajfa-82	32	10	in	in	ADP
ajfa-82	32	11	each	each	DET
ajfa-82	32	12	category	category	NOUN
ajfa-82	32	13	were	be	AUX
ajfa-82	32	14	determined	determine	VERB
ajfa-82	32	15	.	.	PUNCT
ajfa-82	33	1	on	on	ADP
ajfa-82	33	2	the	the	DET
ajfa-82	33	3	basis	basis	NOUN
ajfa-82	33	4	of	of	ADP
ajfa-82	33	5	the	the	DET
ajfa-82	33	6	raw	raw	ADJ
ajfa-82	33	7	data	datum	NOUN
ajfa-82	33	8	alone	alone	ADV
ajfa-82	33	9	,	,	PUNCT
ajfa-82	33	10	it	it	PRON
ajfa-82	33	11	is	be	AUX
ajfa-82	33	12	clear	clear	ADJ
ajfa-82	33	13	that	that	SCONJ
ajfa-82	33	14	there	there	PRON
ajfa-82	33	15	is	be	VERB
ajfa-82	33	16	no	no	DET
ajfa-82	33	17	discernible	discernible	ADJ
ajfa-82	33	18	relationship	relationship	NOUN
ajfa-82	33	19	between	between	ADP
ajfa-82	33	20	smsf	smsf	PROPN
ajfa-82	33	21	portfolio	portfolio	NOUN
ajfa-82	33	22	size	size	NOUN
ajfa-82	33	23	or	or	CCONJ
ajfa-82	33	24	net	net	ADJ
ajfa-82	33	25	worth	worth	NOUN
ajfa-82	33	26	and	and	CCONJ
ajfa-82	33	27	the	the	DET
ajfa-82	33	28	percentage	percentage	NOUN
ajfa-82	33	29	of	of	ADP
ajfa-82	33	30	the	the	DET
ajfa-82	33	31	portfolio	portfolio	NOUN
ajfa-82	33	32	allocated	allocate	VERB
ajfa-82	33	33	to	to	ADP
ajfa-82	33	34	risky	risky	ADJ
ajfa-82	33	35	assets	asset	NOUN
ajfa-82	33	36	.	.	PUNCT
ajfa-82	34	1	this	this	PRON
ajfa-82	34	2	is	be	AUX
ajfa-82	34	3	confirmed	confirm	VERB
ajfa-82	34	4	by	by	ADP
ajfa-82	34	5	a	a	DET
ajfa-82	34	6	basic	basic	ADJ
ajfa-82	34	7	statistical	statistical	ADJ
ajfa-82	34	8	(	(	PUNCT
ajfa-82	34	9	chi	chi	ADJ
ajfa-82	34	10	-	-	PUNCT
ajfa-82	34	11	square	square	ADJ
ajfa-82	34	12	)	)	PUNCT
ajfa-82	34	13	test	test	NOUN
ajfa-82	34	14	,	,	PUNCT
ajfa-82	34	15	which	which	PRON
ajfa-82	34	16	reveals	reveal	VERB
ajfa-82	34	17	that	that	SCONJ
ajfa-82	34	18	the	the	DET
ajfa-82	34	19	variables	variable	NOUN
ajfa-82	34	20	are	be	AUX
ajfa-82	34	21	independent	independent	ADJ
ajfa-82	34	22	.	.	PUNCT
ajfa-82	35	1	on	on	ADP
ajfa-82	35	2	the	the	DET
ajfa-82	35	3	basis	basis	NOUN
ajfa-82	35	4	of	of	ADP
ajfa-82	35	5	the	the	DET
ajfa-82	35	6	results	result	NOUN
ajfa-82	35	7	,	,	PUNCT
ajfa-82	35	8	the	the	DET
ajfa-82	35	9	funds	fund	NOUN
ajfa-82	35	10	in	in	ADP
ajfa-82	35	11	the	the	DET
ajfa-82	35	12	sample	sample	NOUN
ajfa-82	35	13	asian	asian	ADJ
ajfa-82	35	14	journal	journal	NOUN
ajfa-82	35	15	of	of	ADP
ajfa-82	35	16	finance	finance	PROPN
ajfa-82	35	17	&	&	CCONJ
ajfa-82	35	18	accounting	accounting	PROPN
ajfa-82	35	19	issn	issn	PROPN
ajfa-82	35	20	1946	1946	NUM
ajfa-82	35	21	-	-	PUNCT
ajfa-82	35	22	052x	052x	NOUN
ajfa-82	35	23	2009	2009	NUM
ajfa-82	35	24	,	,	PUNCT
ajfa-82	35	25	vol	vol	NOUN
ajfa-82	35	26	.	.	PROPN
ajfa-82	35	27	1	1	NUM
ajfa-82	35	28	,	,	PUNCT
ajfa-82	35	29	no	no	INTJ
ajfa-82	35	30	.	.	NOUN
ajfa-82	35	31	1	1	NUM
ajfa-82	35	32	:	:	PUNCT
ajfa-82	35	33	e1	e1	VERB
ajfa-82	35	34	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	35	35	56	56	NUM
ajfa-82	35	36	do	do	AUX
ajfa-82	35	37	not	not	PART
ajfa-82	35	38	show	show	VERB
ajfa-82	35	39	any	any	DET
ajfa-82	35	40	tendency	tendency	NOUN
ajfa-82	35	41	to	to	PART
ajfa-82	35	42	become	become	VERB
ajfa-82	35	43	riskier	risky	ADJ
ajfa-82	35	44	as	as	ADP
ajfa-82	35	45	their	their	PRON
ajfa-82	35	46	net	net	ADJ
ajfa-82	35	47	worth	worth	ADJ
ajfa-82	35	48	increases	increase	NOUN
ajfa-82	35	49	.	.	PUNCT
ajfa-82	36	1	rather	rather	ADV
ajfa-82	36	2	,	,	PUNCT
ajfa-82	36	3	the	the	DET
ajfa-82	36	4	smsfs	smsfs	NOUN
ajfa-82	36	5	in	in	ADP
ajfa-82	36	6	the	the	DET
ajfa-82	36	7	highest	high	ADJ
ajfa-82	36	8	net	net	ADJ
ajfa-82	36	9	worth	worth	ADJ
ajfa-82	36	10	category	category	NOUN
ajfa-82	36	11	are	be	AUX
ajfa-82	36	12	characterised	characterise	VERB
ajfa-82	36	13	by	by	ADP
ajfa-82	36	14	lower	low	ADJ
ajfa-82	36	15	allocations	allocation	NOUN
ajfa-82	36	16	to	to	ADP
ajfa-82	36	17	risky	risky	ADJ
ajfa-82	36	18	assets	asset	NOUN
ajfa-82	36	19	than	than	ADP
ajfa-82	36	20	other	other	ADJ
ajfa-82	36	21	lower	low	ADJ
ajfa-82	36	22	net	net	ADJ
ajfa-82	36	23	worth	worth	ADJ
ajfa-82	36	24	fund	fund	NOUN
ajfa-82	36	25	categories	category	NOUN
ajfa-82	36	26	.	.	PUNCT
ajfa-82	37	1	viewed	view	VERB
ajfa-82	37	2	from	from	ADP
ajfa-82	37	3	another	another	DET
ajfa-82	37	4	aspect	aspect	NOUN
ajfa-82	37	5	,	,	PUNCT
ajfa-82	37	6	this	this	DET
ajfa-82	37	7	investigation	investigation	NOUN
ajfa-82	37	8	also	also	ADV
ajfa-82	37	9	makes	make	VERB
ajfa-82	37	10	another	another	DET
ajfa-82	37	11	contribution	contribution	NOUN
ajfa-82	37	12	.	.	PUNCT
ajfa-82	38	1	concerns	concern	NOUN
ajfa-82	38	2	have	have	AUX
ajfa-82	38	3	been	be	AUX
ajfa-82	38	4	raised	raise	VERB
ajfa-82	38	5	about	about	ADP
ajfa-82	38	6	the	the	DET
ajfa-82	38	7	large	large	ADJ
ajfa-82	38	8	allocation	allocation	NOUN
ajfa-82	38	9	to	to	PART
ajfa-82	38	10	cash	cash	NOUN
ajfa-82	38	11	that	that	PRON
ajfa-82	38	12	characterises	characterise	VERB
ajfa-82	38	13	smsfs	smsfs	PROPN
ajfa-82	38	14	(	(	PUNCT
ajfa-82	38	15	see	see	PROPN
ajfa-82	38	16	phillips	phillips	PROPN
ajfa-82	38	17	,	,	PUNCT
ajfa-82	38	18	cathcart	cathcart	PROPN
ajfa-82	38	19	and	and	CCONJ
ajfa-82	38	20	teale	teale	PROPN
ajfa-82	38	21	(	(	PUNCT
ajfa-82	38	22	2007	2007	NUM
ajfa-82	38	23	)	)	PUNCT
ajfa-82	38	24	)	)	PUNCT
ajfa-82	38	25	.	.	PUNCT
ajfa-82	39	1	cash	cash	NOUN
ajfa-82	39	2	in	in	ADP
ajfa-82	39	3	bank	bank	NOUN
ajfa-82	39	4	accounts	account	NOUN
ajfa-82	39	5	and	and	CCONJ
ajfa-82	39	6	term	term	NOUN
ajfa-82	39	7	deposits	deposit	NOUN
ajfa-82	39	8	—	—	PUNCT
ajfa-82	39	9	and	and	CCONJ
ajfa-82	39	10	,	,	PUNCT
ajfa-82	39	11	to	to	ADP
ajfa-82	39	12	a	a	DET
ajfa-82	39	13	lesser	less	ADJ
ajfa-82	39	14	extent	extent	NOUN
ajfa-82	39	15	,	,	PUNCT
ajfa-82	39	16	fixed	fix	VERB
ajfa-82	39	17	interest	interest	NOUN
ajfa-82	39	18	securities	security	NOUN
ajfa-82	39	19	—	—	PUNCT
ajfa-82	39	20	generates	generate	VERB
ajfa-82	39	21	a	a	DET
ajfa-82	39	22	very	very	ADV
ajfa-82	39	23	low	low	ADJ
ajfa-82	39	24	rate	rate	NOUN
ajfa-82	39	25	of	of	ADP
ajfa-82	39	26	return	return	NOUN
ajfa-82	39	27	and	and	CCONJ
ajfa-82	39	28	may	may	AUX
ajfa-82	39	29	be	be	AUX
ajfa-82	39	30	vulnerable	vulnerable	ADJ
ajfa-82	39	31	to	to	ADP
ajfa-82	39	32	erosion	erosion	NOUN
ajfa-82	39	33	by	by	ADP
ajfa-82	39	34	inflation	inflation	NOUN
ajfa-82	39	35	over	over	ADP
ajfa-82	39	36	long	long	ADJ
ajfa-82	39	37	time	time	NOUN
ajfa-82	39	38	periods	period	NOUN
ajfa-82	39	39	.	.	PUNCT
ajfa-82	40	1	again	again	ADV
ajfa-82	40	2	,	,	PUNCT
ajfa-82	40	3	the	the	DET
ajfa-82	40	4	australian	australian	ADJ
ajfa-82	40	5	taxation	taxation	NOUN
ajfa-82	40	6	office	office	NOUN
ajfa-82	40	7	publishes	publishe	NOUN
ajfa-82	40	8	aggregated	aggregate	VERB
ajfa-82	40	9	data	datum	NOUN
ajfa-82	40	10	that	that	PRON
ajfa-82	40	11	provides	provide	VERB
ajfa-82	40	12	an	an	DET
ajfa-82	40	13	indication	indication	NOUN
ajfa-82	40	14	of	of	ADP
ajfa-82	40	15	the	the	DET
ajfa-82	40	16	percentage	percentage	NOUN
ajfa-82	40	17	of	of	ADP
ajfa-82	40	18	the	the	DET
ajfa-82	40	19	portfolio	portfolio	NOUN
ajfa-82	40	20	that	that	SCONJ
ajfa-82	40	21	the	the	DET
ajfa-82	40	22	average	average	ADJ
ajfa-82	40	23	smsf	smsf	PROPN
ajfa-82	40	24	trustee	trustee	NOUN
ajfa-82	40	25	allocates	allocate	NOUN
ajfa-82	40	26	to	to	ADP
ajfa-82	40	27	cash	cash	VERB
ajfa-82	40	28	.	.	PUNCT
ajfa-82	41	1	on	on	ADP
ajfa-82	41	2	average	average	ADJ
ajfa-82	41	3	,	,	PUNCT
ajfa-82	41	4	the	the	DET
ajfa-82	41	5	smsfs	smsfs	NOUN
ajfa-82	41	6	in	in	ADP
ajfa-82	41	7	our	our	PRON
ajfa-82	41	8	sample	sample	NOUN
ajfa-82	41	9	allocate	allocate	VERB
ajfa-82	41	10	a	a	DET
ajfa-82	41	11	larger	large	ADJ
ajfa-82	41	12	percentage	percentage	NOUN
ajfa-82	41	13	of	of	ADP
ajfa-82	41	14	their	their	PRON
ajfa-82	41	15	portfolios	portfolio	NOUN
ajfa-82	41	16	to	to	PART
ajfa-82	41	17	cash	cash	VERB
ajfa-82	41	18	assets	asset	NOUN
ajfa-82	41	19	than	than	SCONJ
ajfa-82	41	20	the	the	DET
ajfa-82	41	21	ato‟s	ato‟s	NUM
ajfa-82	41	22	aggregate	aggregate	VERB
ajfa-82	41	23	.	.	PUNCT
ajfa-82	42	1	furthermore	furthermore	ADV
ajfa-82	42	2	,	,	PUNCT
ajfa-82	42	3	a	a	DET
ajfa-82	42	4	number	number	NOUN
ajfa-82	42	5	of	of	ADP
ajfa-82	42	6	the	the	DET
ajfa-82	42	7	funds	fund	NOUN
ajfa-82	42	8	have	have	VERB
ajfa-82	42	9	very	very	ADV
ajfa-82	42	10	large	large	ADJ
ajfa-82	42	11	allocations	allocation	NOUN
ajfa-82	42	12	to	to	ADP
ajfa-82	42	13	cash	cash	NOUN
ajfa-82	42	14	.	.	PUNCT
ajfa-82	43	1	whilst	whilst	SCONJ
ajfa-82	43	2	the	the	DET
ajfa-82	43	3	risk	risk	NOUN
ajfa-82	43	4	that	that	PRON
ajfa-82	43	5	characterises	characterise	VERB
ajfa-82	43	6	smsfs	smsfs	PROPN
ajfa-82	43	7	may	may	AUX
ajfa-82	43	8	be	be	AUX
ajfa-82	43	9	of	of	ADP
ajfa-82	43	10	interest	interest	NOUN
ajfa-82	43	11	to	to	ADP
ajfa-82	43	12	policy	policy	NOUN
ajfa-82	43	13	makers	maker	NOUN
ajfa-82	43	14	and	and	CCONJ
ajfa-82	43	15	regulators	regulator	NOUN
ajfa-82	43	16	,	,	PUNCT
ajfa-82	43	17	the	the	DET
ajfa-82	43	18	cash	cash	NOUN
ajfa-82	43	19	allocations	allocation	NOUN
ajfa-82	43	20	may	may	AUX
ajfa-82	43	21	be	be	AUX
ajfa-82	43	22	viewed	view	VERB
ajfa-82	43	23	with	with	ADP
ajfa-82	43	24	equal	equal	ADJ
ajfa-82	43	25	importance	importance	NOUN
ajfa-82	43	26	.	.	PUNCT
ajfa-82	44	1	in	in	ADP
ajfa-82	44	2	the	the	DET
ajfa-82	44	3	long	long	ADJ
ajfa-82	44	4	run	run	NOUN
ajfa-82	44	5	,	,	PUNCT
ajfa-82	44	6	the	the	DET
ajfa-82	44	7	terminal	terminal	ADJ
ajfa-82	44	8	values	value	NOUN
ajfa-82	44	9	of	of	ADP
ajfa-82	44	10	smsfs	smsfs	NOUN
ajfa-82	44	11	may	may	AUX
ajfa-82	44	12	be	be	AUX
ajfa-82	44	13	just	just	ADV
ajfa-82	44	14	as	as	ADP
ajfa-82	44	15	a	a	DET
ajfa-82	44	16	adversely	adversely	ADV
ajfa-82	44	17	affected	affect	VERB
ajfa-82	44	18	by	by	ADP
ajfa-82	44	19	excess	excess	ADJ
ajfa-82	44	20	volatility	volatility	NOUN
ajfa-82	44	21	as	as	ADP
ajfa-82	44	22	the	the	DET
ajfa-82	44	23	low	low	ADJ
ajfa-82	44	24	real	real	ADJ
ajfa-82	44	25	returns	return	NOUN
ajfa-82	44	26	associated	associate	VERB
ajfa-82	44	27	with	with	ADP
ajfa-82	44	28	holding	hold	VERB
ajfa-82	44	29	a	a	DET
ajfa-82	44	30	large	large	ADJ
ajfa-82	44	31	percentage	percentage	NOUN
ajfa-82	44	32	of	of	ADP
ajfa-82	44	33	the	the	DET
ajfa-82	44	34	portfolios	portfolio	NOUN
ajfa-82	44	35	in	in	ADP
ajfa-82	44	36	cash	cash	NOUN
ajfa-82	44	37	.	.	PUNCT
ajfa-82	45	1	this	this	DET
ajfa-82	45	2	paper	paper	NOUN
ajfa-82	45	3	is	be	AUX
ajfa-82	45	4	organised	organise	VERB
ajfa-82	45	5	as	as	SCONJ
ajfa-82	45	6	follows	follow	VERB
ajfa-82	45	7	.	.	PUNCT
ajfa-82	46	1	in	in	ADP
ajfa-82	46	2	section	section	NOUN
ajfa-82	46	3	2	2	NUM
ajfa-82	46	4	some	some	PRON
ajfa-82	46	5	of	of	ADP
ajfa-82	46	6	the	the	DET
ajfa-82	46	7	relevant	relevant	ADJ
ajfa-82	46	8	economic	economic	ADJ
ajfa-82	46	9	theory	theory	NOUN
ajfa-82	46	10	is	be	AUX
ajfa-82	46	11	presented	present	VERB
ajfa-82	46	12	.	.	PUNCT
ajfa-82	47	1	this	this	PRON
ajfa-82	47	2	focuses	focus	VERB
ajfa-82	47	3	on	on	ADP
ajfa-82	47	4	the	the	DET
ajfa-82	47	5	theoretical	theoretical	ADJ
ajfa-82	47	6	importance	importance	NOUN
ajfa-82	47	7	of	of	ADP
ajfa-82	47	8	utility	utility	NOUN
ajfa-82	47	9	function	function	NOUN
ajfa-82	47	10	configuration	configuration	NOUN
ajfa-82	47	11	in	in	ADP
ajfa-82	47	12	economics	economic	NOUN
ajfa-82	47	13	.	.	PUNCT
ajfa-82	48	1	the	the	DET
ajfa-82	48	2	literature	literature	PROPN
ajfa-82	48	3	survey	survey	NOUN
ajfa-82	48	4	highlights	highlight	VERB
ajfa-82	48	5	the	the	DET
ajfa-82	48	6	absence	absence	NOUN
ajfa-82	48	7	from	from	ADP
ajfa-82	48	8	the	the	DET
ajfa-82	48	9	literature	literature	NOUN
ajfa-82	48	10	of	of	ADP
ajfa-82	48	11	investigations	investigation	NOUN
ajfa-82	48	12	into	into	ADP
ajfa-82	48	13	the	the	DET
ajfa-82	48	14	relationship	relationship	NOUN
ajfa-82	48	15	between	between	ADP
ajfa-82	48	16	smsf	smsf	PROPN
ajfa-82	48	17	net	net	NOUN
ajfa-82	48	18	worth	worth	NOUN
ajfa-82	48	19	and	and	CCONJ
ajfa-82	48	20	allocations	allocation	NOUN
ajfa-82	48	21	to	to	ADP
ajfa-82	48	22	risky	risky	ADJ
ajfa-82	48	23	assets	asset	NOUN
ajfa-82	48	24	.	.	PUNCT
ajfa-82	49	1	the	the	DET
ajfa-82	49	2	research	research	NOUN
ajfa-82	49	3	and	and	CCONJ
ajfa-82	49	4	the	the	DET
ajfa-82	49	5	methodology	methodology	NOUN
ajfa-82	49	6	deployed	deploy	VERB
ajfa-82	49	7	herein	herein	NOUN
ajfa-82	49	8	is	be	AUX
ajfa-82	49	9	linked	link	VERB
ajfa-82	49	10	to	to	ADP
ajfa-82	49	11	seminal	seminal	ADJ
ajfa-82	49	12	work	work	NOUN
ajfa-82	49	13	on	on	ADP
ajfa-82	49	14	investor	investor	NOUN
ajfa-82	49	15	utility	utility	NOUN
ajfa-82	49	16	of	of	ADP
ajfa-82	49	17	wealth	wealth	NOUN
ajfa-82	49	18	functions	function	NOUN
ajfa-82	49	19	produced	produce	VERB
ajfa-82	49	20	during	during	ADP
ajfa-82	49	21	the	the	DET
ajfa-82	49	22	1970s	1970	NOUN
ajfa-82	49	23	,	,	PUNCT
ajfa-82	49	24	especially	especially	ADV
ajfa-82	49	25	the	the	DET
ajfa-82	49	26	empirical	empirical	ADJ
ajfa-82	49	27	investigations	investigation	NOUN
ajfa-82	49	28	undertaken	undertake	VERB
ajfa-82	49	29	by	by	ADP
ajfa-82	49	30	blume	blume	PROPN
ajfa-82	49	31	and	and	CCONJ
ajfa-82	49	32	friend	friend	NOUN
ajfa-82	49	33	(	(	PUNCT
ajfa-82	49	34	1975	1975	NUM
ajfa-82	49	35	)	)	PUNCT
ajfa-82	49	36	.	.	PUNCT
ajfa-82	50	1	in	in	ADP
ajfa-82	50	2	section	section	NOUN
ajfa-82	50	3	3	3	NUM
ajfa-82	50	4	,	,	PUNCT
ajfa-82	50	5	the	the	DET
ajfa-82	50	6	data	datum	NOUN
ajfa-82	50	7	are	be	AUX
ajfa-82	50	8	described	describe	VERB
ajfa-82	50	9	.	.	PUNCT
ajfa-82	51	1	the	the	DET
ajfa-82	51	2	data	datum	NOUN
ajfa-82	51	3	consist	consist	VERB
ajfa-82	51	4	of	of	ADP
ajfa-82	51	5	two	two	NUM
ajfa-82	51	6	independent	independent	ADJ
ajfa-82	51	7	sub	sub	NOUN
ajfa-82	51	8	-	-	ADJ
ajfa-82	51	9	samples	sample	NOUN
ajfa-82	51	10	comprising	comprise	VERB
ajfa-82	51	11	a	a	DET
ajfa-82	51	12	total	total	NOUN
ajfa-82	51	13	of	of	ADP
ajfa-82	51	14	141	141	NUM
ajfa-82	51	15	self	self	NOUN
ajfa-82	51	16	managed	manage	VERB
ajfa-82	51	17	superannuation	superannuation	NOUN
ajfa-82	51	18	funds	fund	NOUN
ajfa-82	51	19	.	.	PUNCT
ajfa-82	52	1	in	in	ADP
ajfa-82	52	2	section	section	NOUN
ajfa-82	52	3	4	4	NUM
ajfa-82	52	4	,	,	PUNCT
ajfa-82	52	5	the	the	DET
ajfa-82	52	6	analysis	analysis	NOUN
ajfa-82	52	7	of	of	ADP
ajfa-82	52	8	the	the	DET
ajfa-82	52	9	data	data	NOUN
ajfa-82	52	10	is	be	AUX
ajfa-82	52	11	presented	present	VERB
ajfa-82	52	12	.	.	PUNCT
ajfa-82	53	1	this	this	PRON
ajfa-82	53	2	involves	involve	VERB
ajfa-82	53	3	a	a	DET
ajfa-82	53	4	cross	cross	ADJ
ajfa-82	53	5	-	-	ADJ
ajfa-82	53	6	classification	classification	ADJ
ajfa-82	53	7	analysis	analysis	NOUN
ajfa-82	53	8	(	(	PUNCT
ajfa-82	53	9	using	use	VERB
ajfa-82	53	10	a	a	DET
ajfa-82	53	11	chi	chi	ADJ
ajfa-82	53	12	-	-	PUNCT
ajfa-82	53	13	square	square	ADJ
ajfa-82	53	14	test	test	NOUN
ajfa-82	53	15	statistic	statistic	NOUN
ajfa-82	53	16	)	)	PUNCT
ajfa-82	53	17	to	to	PART
ajfa-82	53	18	examine	examine	VERB
ajfa-82	53	19	the	the	DET
ajfa-82	53	20	relationship	relationship	NOUN
ajfa-82	53	21	between	between	ADP
ajfa-82	53	22	smsf	smsf	PROPN
ajfa-82	53	23	net	net	NOUN
ajfa-82	53	24	worth	worth	NOUN
ajfa-82	53	25	and	and	CCONJ
ajfa-82	53	26	allocations	allocation	NOUN
ajfa-82	53	27	to	to	ADP
ajfa-82	53	28	risky	risky	ADJ
ajfa-82	53	29	assets	asset	NOUN
ajfa-82	53	30	exhibited	exhibit	VERB
ajfa-82	53	31	by	by	ADP
ajfa-82	53	32	the	the	DET
ajfa-82	53	33	self	self	NOUN
ajfa-82	53	34	managed	manage	VERB
ajfa-82	53	35	superannuation	superannuation	NOUN
ajfa-82	53	36	funds	fund	NOUN
ajfa-82	53	37	in	in	ADP
ajfa-82	53	38	the	the	DET
ajfa-82	53	39	sample	sample	NOUN
ajfa-82	53	40	.	.	PUNCT
ajfa-82	54	1	in	in	ADP
ajfa-82	54	2	section	section	NOUN
ajfa-82	54	3	5	5	NUM
ajfa-82	54	4	,	,	PUNCT
ajfa-82	54	5	the	the	DET
ajfa-82	54	6	implications	implication	NOUN
ajfa-82	54	7	of	of	ADP
ajfa-82	54	8	the	the	DET
ajfa-82	54	9	results	result	NOUN
ajfa-82	54	10	are	be	AUX
ajfa-82	54	11	discussed	discuss	VERB
ajfa-82	54	12	.	.	PUNCT
ajfa-82	55	1	this	this	PRON
ajfa-82	55	2	is	be	AUX
ajfa-82	55	3	followed	follow	VERB
ajfa-82	55	4	in	in	ADP
ajfa-82	55	5	section	section	NOUN
ajfa-82	55	6	6	6	NUM
ajfa-82	55	7	by	by	ADP
ajfa-82	55	8	conclusions	conclusion	NOUN
ajfa-82	55	9	and	and	CCONJ
ajfa-82	55	10	suggestions	suggestion	NOUN
ajfa-82	55	11	for	for	ADP
ajfa-82	55	12	future	future	ADJ
ajfa-82	55	13	research	research	NOUN
ajfa-82	55	14	.	.	PUNCT
ajfa-82	56	1	2	2	X
ajfa-82	56	2	.	.	X
ajfa-82	56	3	background	background	NOUN
ajfa-82	56	4	and	and	CCONJ
ajfa-82	56	5	existing	exist	VERB
ajfa-82	56	6	studies	study	NOUN
ajfa-82	56	7	there	there	ADV
ajfa-82	56	8	exists	exist	VERB
ajfa-82	56	9	a	a	DET
ajfa-82	56	10	body	body	NOUN
ajfa-82	56	11	of	of	ADP
ajfa-82	56	12	economic	economic	ADJ
ajfa-82	56	13	theory	theory	NOUN
ajfa-82	56	14	that	that	PRON
ajfa-82	56	15	provides	provide	VERB
ajfa-82	56	16	some	some	DET
ajfa-82	56	17	insights	insight	NOUN
ajfa-82	56	18	into	into	ADP
ajfa-82	56	19	the	the	DET
ajfa-82	56	20	relationship	relationship	NOUN
ajfa-82	56	21	between	between	ADP
ajfa-82	56	22	net	net	ADJ
ajfa-82	56	23	worth	worth	NOUN
ajfa-82	56	24	and	and	CCONJ
ajfa-82	56	25	allocation	allocation	NOUN
ajfa-82	56	26	to	to	ADP
ajfa-82	56	27	risky	risky	ADJ
ajfa-82	56	28	assets	asset	NOUN
ajfa-82	56	29	.	.	PUNCT
ajfa-82	57	1	depending	depend	VERB
ajfa-82	57	2	on	on	ADP
ajfa-82	57	3	the	the	DET
ajfa-82	57	4	type	type	NOUN
ajfa-82	57	5	of	of	ADP
ajfa-82	57	6	risk	risk	NOUN
ajfa-82	57	7	aversion	aversion	NOUN
ajfa-82	57	8	an	an	DET
ajfa-82	57	9	individual	individual	ADJ
ajfa-82	57	10	exhibits	exhibit	NOUN
ajfa-82	57	11	,	,	PUNCT
ajfa-82	57	12	that	that	DET
ajfa-82	57	13	individual	individual	NOUN
ajfa-82	57	14	will	will	AUX
ajfa-82	57	15	have	have	VERB
ajfa-82	57	16	different	different	ADJ
ajfa-82	57	17	preferences	preference	NOUN
ajfa-82	57	18	for	for	ADP
ajfa-82	57	19	risky	risky	ADJ
ajfa-82	57	20	assets	asset	NOUN
ajfa-82	57	21	as	as	ADP
ajfa-82	57	22	his	his	PRON
ajfa-82	57	23	or	or	CCONJ
ajfa-82	57	24	her	her	PRON
ajfa-82	57	25	wealth	wealth	NOUN
ajfa-82	57	26	changes	change	NOUN
ajfa-82	57	27	.	.	PUNCT
ajfa-82	58	1	there	there	PRON
ajfa-82	58	2	are	be	VERB
ajfa-82	58	3	two	two	NUM
ajfa-82	58	4	ways	way	NOUN
ajfa-82	58	5	in	in	ADP
ajfa-82	58	6	which	which	PRON
ajfa-82	58	7	the	the	DET
ajfa-82	58	8	individual‟s	individual‟s	NOUN
ajfa-82	58	9	preferences	preference	NOUN
ajfa-82	58	10	for	for	ADP
ajfa-82	58	11	risky	risky	ADJ
ajfa-82	58	12	assets	asset	NOUN
ajfa-82	58	13	may	may	AUX
ajfa-82	58	14	be	be	AUX
ajfa-82	58	15	described	describe	VERB
ajfa-82	58	16	:	:	PUNCT
ajfa-82	58	17	(	(	PUNCT
ajfa-82	58	18	1	1	X
ajfa-82	58	19	)	)	PUNCT
ajfa-82	58	20	absolutely	absolutely	ADV
ajfa-82	58	21	;	;	PUNCT
ajfa-82	58	22	or	or	CCONJ
ajfa-82	58	23	(	(	PUNCT
ajfa-82	58	24	2	2	X
ajfa-82	58	25	)	)	PUNCT
ajfa-82	58	26	relatively	relatively	ADV
ajfa-82	58	27	.	.	PUNCT
ajfa-82	59	1	individuals	individual	NOUN
ajfa-82	59	2	may	may	AUX
ajfa-82	59	3	exhibit	exhibit	VERB
ajfa-82	59	4	increasing	increase	VERB
ajfa-82	59	5	,	,	PUNCT
ajfa-82	59	6	constant	constant	ADJ
ajfa-82	59	7	or	or	CCONJ
ajfa-82	59	8	decreasing	decrease	VERB
ajfa-82	59	9	absolute	absolute	ADJ
ajfa-82	59	10	risk	risk	NOUN
ajfa-82	59	11	aversion	aversion	NOUN
ajfa-82	59	12	.	.	PUNCT
ajfa-82	60	1	just	just	ADV
ajfa-82	60	2	which	which	PRON
ajfa-82	60	3	will	will	AUX
ajfa-82	60	4	decide	decide	VERB
ajfa-82	60	5	the	the	DET
ajfa-82	60	6	amount	amount	NOUN
ajfa-82	60	7	of	of	ADP
ajfa-82	60	8	dollars	dollar	NOUN
ajfa-82	60	9	they	they	PRON
ajfa-82	60	10	hold	hold	VERB
ajfa-82	60	11	in	in	ADP
ajfa-82	60	12	risky	risky	ADJ
ajfa-82	60	13	assets	asset	NOUN
ajfa-82	60	14	as	as	ADP
ajfa-82	60	15	their	their	PRON
ajfa-82	60	16	wealth	wealth	NOUN
ajfa-82	60	17	changes	change	NOUN
ajfa-82	60	18	.	.	PUNCT
ajfa-82	61	1	with	with	ADP
ajfa-82	61	2	regard	regard	NOUN
ajfa-82	61	3	to	to	ADP
ajfa-82	61	4	relative	relative	ADJ
ajfa-82	61	5	risk	risk	NOUN
ajfa-82	61	6	aversion	aversion	NOUN
ajfa-82	61	7	,	,	PUNCT
ajfa-82	61	8	asian	asian	ADJ
ajfa-82	61	9	journal	journal	NOUN
ajfa-82	61	10	of	of	ADP
ajfa-82	61	11	finance	finance	PROPN
ajfa-82	61	12	&	&	CCONJ
ajfa-82	61	13	accounting	accounting	PROPN
ajfa-82	61	14	issn	issn	PROPN
ajfa-82	61	15	1946	1946	NUM
ajfa-82	61	16	-	-	PUNCT
ajfa-82	61	17	052x	052x	NOUN
ajfa-82	61	18	2009	2009	NUM
ajfa-82	61	19	,	,	PUNCT
ajfa-82	61	20	vol	vol	NOUN
ajfa-82	61	21	.	.	PROPN
ajfa-82	61	22	1	1	NUM
ajfa-82	61	23	,	,	PUNCT
ajfa-82	61	24	no	no	INTJ
ajfa-82	61	25	.	.	NOUN
ajfa-82	61	26	1	1	NUM
ajfa-82	61	27	:	:	PUNCT
ajfa-82	61	28	e1	e1	VERB
ajfa-82	61	29	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	61	30	57	57	NUM
ajfa-82	61	31	individuals	individual	NOUN
ajfa-82	61	32	may	may	AUX
ajfa-82	61	33	exhibit	exhibit	VERB
ajfa-82	61	34	increasing	increase	VERB
ajfa-82	61	35	,	,	PUNCT
ajfa-82	61	36	constant	constant	ADJ
ajfa-82	61	37	or	or	CCONJ
ajfa-82	61	38	decreasing	decrease	VERB
ajfa-82	61	39	relative	relative	ADJ
ajfa-82	61	40	risk	risk	NOUN
ajfa-82	61	41	aversion	aversion	NOUN
ajfa-82	61	42	.	.	PUNCT
ajfa-82	62	1	just	just	ADV
ajfa-82	62	2	which	which	PRON
ajfa-82	62	3	of	of	ADP
ajfa-82	62	4	these	these	PRON
ajfa-82	62	5	will	will	AUX
ajfa-82	62	6	decide	decide	VERB
ajfa-82	62	7	the	the	DET
ajfa-82	62	8	percentage	percentage	NOUN
ajfa-82	62	9	of	of	ADP
ajfa-82	62	10	their	their	PRON
ajfa-82	62	11	wealth	wealth	NOUN
ajfa-82	62	12	they	they	PRON
ajfa-82	62	13	invest	invest	VERB
ajfa-82	62	14	in	in	ADP
ajfa-82	62	15	risky	risky	ADJ
ajfa-82	62	16	assets	asset	NOUN
ajfa-82	62	17	as	as	ADP
ajfa-82	62	18	their	their	PRON
ajfa-82	62	19	wealth	wealth	NOUN
ajfa-82	62	20	changes	change	NOUN
ajfa-82	62	21	.	.	PUNCT
ajfa-82	63	1	an	an	DET
ajfa-82	63	2	individual	individual	NOUN
ajfa-82	63	3	who	who	PRON
ajfa-82	63	4	exhibits	exhibit	VERB
ajfa-82	63	5	increasing	increase	VERB
ajfa-82	63	6	,	,	PUNCT
ajfa-82	63	7	decreasing	decrease	VERB
ajfa-82	63	8	or	or	CCONJ
ajfa-82	63	9	constant	constant	ADJ
ajfa-82	63	10	relative	relative	ADJ
ajfa-82	63	11	risk	risk	NOUN
ajfa-82	63	12	aversion	aversion	NOUN
ajfa-82	63	13	will	will	AUX
ajfa-82	63	14	hold	hold	VERB
ajfa-82	63	15	a	a	DET
ajfa-82	63	16	lesser	less	ADJ
ajfa-82	63	17	,	,	PUNCT
ajfa-82	63	18	greater	great	ADJ
ajfa-82	63	19	or	or	CCONJ
ajfa-82	63	20	unchanged	unchanged	ADJ
ajfa-82	63	21	percentage	percentage	NOUN
ajfa-82	63	22	of	of	ADP
ajfa-82	63	23	his	his	PRON
ajfa-82	63	24	or	or	CCONJ
ajfa-82	63	25	her	her	PRON
ajfa-82	63	26	wealth	wealth	NOUN
ajfa-82	63	27	in	in	ADP
ajfa-82	63	28	risky	risky	ADJ
ajfa-82	63	29	assets	asset	NOUN
ajfa-82	63	30	as	as	ADP
ajfa-82	63	31	his	his	PRON
ajfa-82	63	32	or	or	CCONJ
ajfa-82	63	33	her	her	PRON
ajfa-82	63	34	wealth	wealth	NOUN
ajfa-82	63	35	increases	increase	VERB
ajfa-82	63	36	1	1	NUM
ajfa-82	63	37	.	.	PUNCT
ajfa-82	64	1	formally	formally	ADV
ajfa-82	64	2	,	,	PUNCT
ajfa-82	64	3	the	the	DET
ajfa-82	64	4	arrow	arrow	NOUN
ajfa-82	64	5	-	-	PUNCT
ajfa-82	64	6	pratt	pratt	NOUN
ajfa-82	64	7	measures	measure	NOUN
ajfa-82	64	8	of	of	ADP
ajfa-82	64	9	absolute	absolute	ADJ
ajfa-82	64	10	and	and	CCONJ
ajfa-82	64	11	relative	relative	ADJ
ajfa-82	64	12	risk	risk	NOUN
ajfa-82	64	13	aversion	aversion	NOUN
ajfa-82	64	14	are	be	AUX
ajfa-82	64	15	measures	measure	NOUN
ajfa-82	64	16	of	of	ADP
ajfa-82	64	17	how	how	SCONJ
ajfa-82	64	18	the	the	DET
ajfa-82	64	19	investor‟s	investor‟s	ADJ
ajfa-82	64	20	absolute	absolute	ADJ
ajfa-82	64	21	and	and	CCONJ
ajfa-82	64	22	relative	relative	ADJ
ajfa-82	64	23	risk	risk	NOUN
ajfa-82	64	24	aversion	aversion	NOUN
ajfa-82	64	25	behaves	behave	VERB
ajfa-82	64	26	with	with	ADP
ajfa-82	64	27	respect	respect	NOUN
ajfa-82	64	28	to	to	ADP
ajfa-82	64	29	changes	change	NOUN
ajfa-82	64	30	in	in	ADP
ajfa-82	64	31	the	the	DET
ajfa-82	64	32	investor‟s	investor‟s	ADJ
ajfa-82	64	33	wealth	wealth	NOUN
ajfa-82	64	34	.	.	PUNCT
ajfa-82	65	1	these	these	DET
ajfa-82	65	2	measures	measure	NOUN
ajfa-82	65	3	,	,	PUNCT
ajfa-82	65	4	which	which	PRON
ajfa-82	65	5	were	be	AUX
ajfa-82	65	6	derived	derive	VERB
ajfa-82	65	7	by	by	ADP
ajfa-82	65	8	pratt	pratt	PROPN
ajfa-82	65	9	(	(	PUNCT
ajfa-82	65	10	1964	1964	NUM
ajfa-82	65	11	)	)	PUNCT
ajfa-82	65	12	independently	independently	ADV
ajfa-82	65	13	of	of	ADP
ajfa-82	65	14	kenneth	kenneth	PROPN
ajfa-82	65	15	arrow‟s	arrow‟s	PUNCT
ajfa-82	65	16	similar	similar	ADJ
ajfa-82	65	17	efforts	effort	NOUN
ajfa-82	65	18	,	,	PUNCT
ajfa-82	65	19	hold	hold	VERB
ajfa-82	65	20	a	a	DET
ajfa-82	65	21	place	place	NOUN
ajfa-82	65	22	of	of	ADP
ajfa-82	65	23	some	some	DET
ajfa-82	65	24	prominence	prominence	NOUN
ajfa-82	65	25	in	in	ADP
ajfa-82	65	26	the	the	DET
ajfa-82	65	27	literature	literature	NOUN
ajfa-82	65	28	:	:	PUNCT
ajfa-82	65	29	)	)	PUNCT
ajfa-82	65	30	(	(	PUNCT
ajfa-82	65	31	)	)	PUNCT
ajfa-82	65	32	(	(	PUNCT
ajfa-82	65	33	)	)	PUNCT
ajfa-82	65	34	(	(	PUNCT
ajfa-82	65	35	wu	wu	PROPN
ajfa-82	65	36	wu	wu	PROPN
ajfa-82	65	37	wra	wra	PROPN
ajfa-82	65	38	(	(	PUNCT
ajfa-82	65	39	1	1	NUM
ajfa-82	65	40	)	)	PUNCT
ajfa-82	65	41	)	)	PUNCT
ajfa-82	65	42	(	(	PUNCT
ajfa-82	65	43	)	)	PUNCT
ajfa-82	65	44	(	(	PUNCT
ajfa-82	65	45	)	)	PUNCT
ajfa-82	65	46	(	(	PUNCT
ajfa-82	65	47	wu	wu	PROPN
ajfa-82	65	48	wu	wu	PROPN
ajfa-82	65	49	wwrr	wwrr	PROPN
ajfa-82	65	50	(	(	PUNCT
ajfa-82	65	51	2	2	NUM
ajfa-82	65	52	)	)	PUNCT
ajfa-82	65	53	where	where	SCONJ
ajfa-82	65	54	)	)	PUNCT
ajfa-82	65	55	(	(	PUNCT
ajfa-82	65	56	wra	wra	PROPN
ajfa-82	65	57	is	be	AUX
ajfa-82	65	58	the	the	DET
ajfa-82	65	59	arrow	arrow	NOUN
ajfa-82	65	60	-	-	PUNCT
ajfa-82	65	61	pratt	pratt	NOUN
ajfa-82	65	62	measure	measure	NOUN
ajfa-82	65	63	of	of	ADP
ajfa-82	65	64	absolute	absolute	ADJ
ajfa-82	65	65	risk	risk	NOUN
ajfa-82	65	66	aversion	aversion	NOUN
ajfa-82	65	67	and	and	CCONJ
ajfa-82	65	68	)	)	PUNCT
ajfa-82	65	69	(	(	PUNCT
ajfa-82	65	70	wrr	wrr	PROPN
ajfa-82	65	71	is	be	AUX
ajfa-82	65	72	the	the	DET
ajfa-82	65	73	arrow	arrow	NOUN
ajfa-82	65	74	-	-	PUNCT
ajfa-82	65	75	pratt	pratt	NOUN
ajfa-82	65	76	measure	measure	NOUN
ajfa-82	65	77	of	of	ADP
ajfa-82	65	78	relative	relative	ADJ
ajfa-82	65	79	risk	risk	NOUN
ajfa-82	65	80	aversion	aversion	NOUN
ajfa-82	65	81	.	.	PUNCT
ajfa-82	66	1	these	these	DET
ajfa-82	66	2	measures	measure	NOUN
ajfa-82	66	3	have	have	VERB
ajfa-82	66	4	a	a	DET
ajfa-82	66	5	very	very	ADV
ajfa-82	66	6	desirable	desirable	ADJ
ajfa-82	66	7	property	property	NOUN
ajfa-82	66	8	.	.	PUNCT
ajfa-82	67	1	the	the	DET
ajfa-82	67	2	numerical	numerical	ADJ
ajfa-82	67	3	estimates	estimate	NOUN
ajfa-82	67	4	of	of	ADP
ajfa-82	67	5	equation	equation	NOUN
ajfa-82	67	6	(	(	PUNCT
ajfa-82	67	7	1	1	NUM
ajfa-82	67	8	)	)	PUNCT
ajfa-82	67	9	and	and	CCONJ
ajfa-82	67	10	equation	equation	NOUN
ajfa-82	67	11	(	(	PUNCT
ajfa-82	67	12	2	2	X
ajfa-82	67	13	)	)	PUNCT
ajfa-82	67	14	do	do	AUX
ajfa-82	67	15	not	not	PART
ajfa-82	67	16	depend	depend	VERB
ajfa-82	67	17	upon	upon	SCONJ
ajfa-82	67	18	the	the	DET
ajfa-82	67	19	units	unit	NOUN
ajfa-82	67	20	in	in	ADP
ajfa-82	67	21	which	which	PRON
ajfa-82	67	22	the	the	DET
ajfa-82	67	23	utility	utility	NOUN
ajfa-82	67	24	is	be	AUX
ajfa-82	67	25	measured	measure	VERB
ajfa-82	67	26	.	.	PUNCT
ajfa-82	68	1	this	this	PRON
ajfa-82	68	2	is	be	AUX
ajfa-82	68	3	a	a	DET
ajfa-82	68	4	significant	significant	ADJ
ajfa-82	68	5	advance	advance	NOUN
ajfa-82	68	6	over	over	ADP
ajfa-82	68	7	the	the	DET
ajfa-82	68	8	naïve	naïve	ADJ
ajfa-82	68	9	measure	measure	NOUN
ajfa-82	68	10	of	of	ADP
ajfa-82	68	11	risk	risk	NOUN
ajfa-82	68	12	aversion	aversion	NOUN
ajfa-82	68	13	computed	compute	VERB
ajfa-82	68	14	simply	simply	ADV
ajfa-82	68	15	by	by	ADP
ajfa-82	68	16	taking	take	VERB
ajfa-82	68	17	the	the	DET
ajfa-82	68	18	second	second	ADJ
ajfa-82	68	19	derivative	derivative	NOUN
ajfa-82	68	20	of	of	ADP
ajfa-82	68	21	the	the	DET
ajfa-82	68	22	utility	utility	NOUN
ajfa-82	68	23	of	of	ADP
ajfa-82	68	24	wealth	wealth	NOUN
ajfa-82	68	25	function	function	NOUN
ajfa-82	68	26	,	,	PUNCT
ajfa-82	68	27	)	)	PUNCT
ajfa-82	69	1	.(wu	.(wu	PUNCT
ajfa-82	69	2	the	the	DET
ajfa-82	69	3	first	first	ADJ
ajfa-82	69	4	derivative	derivative	NOUN
ajfa-82	69	5	of	of	ADP
ajfa-82	69	6	)	)	PUNCT
ajfa-82	69	7	(	(	PUNCT
ajfa-82	69	8	wra	wra	PROPN
ajfa-82	69	9	with	with	ADP
ajfa-82	69	10	respect	respect	NOUN
ajfa-82	69	11	to	to	ADP
ajfa-82	69	12	wealth	wealth	NOUN
ajfa-82	69	13	,	,	PUNCT
ajfa-82	69	14	)	)	PUNCT
ajfa-82	69	15	(	(	PUNCT
ajfa-82	69	16	wra	wra	PROPN
ajfa-82	69	17	,	,	PUNCT
ajfa-82	69	18	will	will	AUX
ajfa-82	69	19	be	be	AUX
ajfa-82	69	20	positive	positive	ADJ
ajfa-82	69	21	,	,	PUNCT
ajfa-82	69	22	zero	zero	NUM
ajfa-82	69	23	or	or	CCONJ
ajfa-82	69	24	negative	negative	ADJ
ajfa-82	69	25	depending	depend	VERB
ajfa-82	69	26	on	on	ADP
ajfa-82	69	27	whether	whether	SCONJ
ajfa-82	69	28	the	the	DET
ajfa-82	69	29	investor	investor	NOUN
ajfa-82	69	30	exhibits	exhibit	VERB
ajfa-82	69	31	increasing	increase	VERB
ajfa-82	69	32	,	,	PUNCT
ajfa-82	69	33	constant	constant	ADJ
ajfa-82	69	34	or	or	CCONJ
ajfa-82	69	35	decreasing	decrease	VERB
ajfa-82	69	36	absolute	absolute	ADJ
ajfa-82	69	37	risk	risk	NOUN
ajfa-82	69	38	aversion	aversion	NOUN
ajfa-82	69	39	or	or	CCONJ
ajfa-82	69	40	,	,	PUNCT
ajfa-82	69	41	equivalently	equivalently	ADV
ajfa-82	69	42	,	,	PUNCT
ajfa-82	69	43	if	if	SCONJ
ajfa-82	69	44	the	the	DET
ajfa-82	69	45	investor	investor	NOUN
ajfa-82	69	46	holds	hold	VERB
ajfa-82	69	47	fewer	few	ADJ
ajfa-82	69	48	,	,	PUNCT
ajfa-82	69	49	the	the	DET
ajfa-82	69	50	same	same	ADJ
ajfa-82	69	51	or	or	CCONJ
ajfa-82	69	52	more	more	ADJ
ajfa-82	69	53	dollars	dollar	NOUN
ajfa-82	69	54	in	in	ADP
ajfa-82	69	55	risky	risky	ADJ
ajfa-82	69	56	assets	asset	NOUN
ajfa-82	69	57	as	as	ADP
ajfa-82	69	58	wealth	wealth	NOUN
ajfa-82	69	59	increases	increase	NOUN
ajfa-82	69	60	.	.	PUNCT
ajfa-82	70	1	the	the	DET
ajfa-82	70	2	first	first	ADJ
ajfa-82	70	3	derivative	derivative	NOUN
ajfa-82	70	4	of	of	ADP
ajfa-82	70	5	)	)	PUNCT
ajfa-82	70	6	(	(	PUNCT
ajfa-82	70	7	wrr	wrr	PROPN
ajfa-82	70	8	,	,	PUNCT
ajfa-82	70	9	)	)	PUNCT
ajfa-82	70	10	(	(	PUNCT
ajfa-82	70	11	wrr	wrr	PROPN
ajfa-82	70	12	,	,	PUNCT
ajfa-82	70	13	will	will	AUX
ajfa-82	70	14	be	be	AUX
ajfa-82	70	15	positive	positive	ADJ
ajfa-82	70	16	,	,	PUNCT
ajfa-82	70	17	zero	zero	NUM
ajfa-82	70	18	or	or	CCONJ
ajfa-82	70	19	negative	negative	ADJ
ajfa-82	70	20	depending	depend	VERB
ajfa-82	70	21	on	on	ADP
ajfa-82	70	22	whether	whether	SCONJ
ajfa-82	70	23	the	the	DET
ajfa-82	70	24	investor	investor	NOUN
ajfa-82	70	25	exhibits	exhibit	VERB
ajfa-82	70	26	increasing	increase	VERB
ajfa-82	70	27	,	,	PUNCT
ajfa-82	70	28	constant	constant	ADJ
ajfa-82	70	29	or	or	CCONJ
ajfa-82	70	30	decreasing	decrease	VERB
ajfa-82	70	31	relative	relative	ADJ
ajfa-82	70	32	risk	risk	NOUN
ajfa-82	70	33	aversion	aversion	NOUN
ajfa-82	70	34	or	or	CCONJ
ajfa-82	70	35	,	,	PUNCT
ajfa-82	70	36	equivalently	equivalently	ADV
ajfa-82	70	37	,	,	PUNCT
ajfa-82	70	38	if	if	SCONJ
ajfa-82	70	39	the	the	DET
ajfa-82	70	40	investor	investor	NOUN
ajfa-82	70	41	holds	hold	VERB
ajfa-82	70	42	a	a	DET
ajfa-82	70	43	lower	low	ADJ
ajfa-82	70	44	,	,	PUNCT
ajfa-82	70	45	unchanged	unchanged	ADJ
ajfa-82	70	46	or	or	CCONJ
ajfa-82	70	47	higher	high	ADJ
ajfa-82	70	48	percentage	percentage	NOUN
ajfa-82	70	49	of	of	ADP
ajfa-82	70	50	wealth	wealth	NOUN
ajfa-82	70	51	in	in	ADP
ajfa-82	70	52	risky	risky	ADJ
ajfa-82	70	53	assets	asset	NOUN
ajfa-82	70	54	as	as	ADP
ajfa-82	70	55	wealth	wealth	NOUN
ajfa-82	70	56	increases	increase	NOUN
ajfa-82	70	57	.	.	PUNCT
ajfa-82	71	1	importantly	importantly	ADV
ajfa-82	71	2	,	,	PUNCT
ajfa-82	71	3	the	the	DET
ajfa-82	71	4	arrow	arrow	NOUN
ajfa-82	71	5	-	-	PUNCT
ajfa-82	71	6	pratt	pratt	NOUN
ajfa-82	71	7	1	1	NUM
ajfa-82	71	8	further	further	ADJ
ajfa-82	71	9	discussion	discussion	NOUN
ajfa-82	71	10	can	can	AUX
ajfa-82	71	11	be	be	AUX
ajfa-82	71	12	found	find	VERB
ajfa-82	71	13	in	in	ADP
ajfa-82	71	14	texts	text	NOUN
ajfa-82	71	15	on	on	ADP
ajfa-82	71	16	portfolio	portfolio	NOUN
ajfa-82	71	17	theory	theory	NOUN
ajfa-82	71	18	and	and	CCONJ
ajfa-82	71	19	is	be	AUX
ajfa-82	71	20	therefore	therefore	ADV
ajfa-82	71	21	omitted	omit	VERB
ajfa-82	71	22	from	from	ADP
ajfa-82	71	23	the	the	DET
ajfa-82	71	24	present	present	ADJ
ajfa-82	71	25	article	article	NOUN
ajfa-82	71	26	.	.	PUNCT
ajfa-82	72	1	see	see	VERB
ajfa-82	72	2	elton	elton	PROPN
ajfa-82	72	3	et	et	PROPN
ajfa-82	72	4	al	al	PROPN
ajfa-82	72	5	.	.	PROPN
ajfa-82	73	1	(	(	PUNCT
ajfa-82	73	2	2003	2003	NUM
ajfa-82	73	3	)	)	PUNCT
ajfa-82	73	4	.	.	PUNCT
ajfa-82	74	1	asian	asian	ADJ
ajfa-82	74	2	journal	journal	PROPN
ajfa-82	74	3	of	of	ADP
ajfa-82	74	4	finance	finance	PROPN
ajfa-82	74	5	&	&	CCONJ
ajfa-82	74	6	accounting	accounting	PROPN
ajfa-82	74	7	issn	issn	PROPN
ajfa-82	74	8	1946	1946	NUM
ajfa-82	74	9	-	-	PUNCT
ajfa-82	74	10	052x	052x	NOUN
ajfa-82	74	11	2009	2009	NUM
ajfa-82	74	12	,	,	PUNCT
ajfa-82	74	13	vol	vol	NOUN
ajfa-82	74	14	.	.	PROPN
ajfa-82	74	15	1	1	NUM
ajfa-82	74	16	,	,	PUNCT
ajfa-82	74	17	no	no	INTJ
ajfa-82	74	18	.	.	NOUN
ajfa-82	74	19	1	1	NUM
ajfa-82	74	20	:	:	PUNCT
ajfa-82	74	21	e1	e1	VERB
ajfa-82	74	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	74	23	58	58	NUM
ajfa-82	74	24	measures	measure	NOUN
ajfa-82	74	25	of	of	ADP
ajfa-82	74	26	absolute	absolute	ADJ
ajfa-82	74	27	and	and	CCONJ
ajfa-82	74	28	relative	relative	ADJ
ajfa-82	74	29	risk	risk	NOUN
ajfa-82	74	30	aversion	aversion	NOUN
ajfa-82	74	31	show	show	VERB
ajfa-82	74	32	that	that	SCONJ
ajfa-82	74	33	risk	risk	NOUN
ajfa-82	74	34	aversion	aversion	NOUN
ajfa-82	74	35	may	may	AUX
ajfa-82	74	36	vary	vary	VERB
ajfa-82	74	37	as	as	ADP
ajfa-82	74	38	wealth	wealth	NOUN
ajfa-82	74	39	changes	change	NOUN
ajfa-82	74	40	.	.	PUNCT
ajfa-82	75	1	hence	hence	ADV
ajfa-82	75	2	,	,	PUNCT
ajfa-82	75	3	as	as	SCONJ
ajfa-82	75	4	additional	additional	ADJ
ajfa-82	75	5	savings	saving	NOUN
ajfa-82	75	6	are	be	AUX
ajfa-82	75	7	added	add	VERB
ajfa-82	75	8	to	to	ADP
ajfa-82	75	9	self	self	NOUN
ajfa-82	75	10	managed	manage	VERB
ajfa-82	75	11	superannuation	superannuation	NOUN
ajfa-82	75	12	funds	fund	NOUN
ajfa-82	75	13	and	and	CCONJ
ajfa-82	75	14	the	the	DET
ajfa-82	75	15	fund	fund	NOUN
ajfa-82	75	16	advances	advance	VERB
ajfa-82	75	17	(	(	PUNCT
ajfa-82	75	18	or	or	CCONJ
ajfa-82	75	19	declines	decline	VERB
ajfa-82	75	20	)	)	PUNCT
ajfa-82	75	21	due	due	ADP
ajfa-82	75	22	to	to	ADP
ajfa-82	75	23	the	the	DET
ajfa-82	75	24	returns	return	NOUN
ajfa-82	75	25	generated	generate	VERB
ajfa-82	75	26	by	by	ADP
ajfa-82	75	27	the	the	DET
ajfa-82	75	28	constituent	constituent	ADJ
ajfa-82	75	29	assets	asset	NOUN
ajfa-82	75	30	,	,	PUNCT
ajfa-82	75	31	the	the	DET
ajfa-82	75	32	trustee‟s	trustee‟s	NUM
ajfa-82	75	33	risk	risk	NOUN
ajfa-82	75	34	aversion	aversion	NOUN
ajfa-82	75	35	may	may	AUX
ajfa-82	75	36	vary	vary	VERB
ajfa-82	75	37	.	.	PUNCT
ajfa-82	76	1	there	there	PRON
ajfa-82	76	2	are	be	VERB
ajfa-82	76	3	both	both	PRON
ajfa-82	76	4	theoretical	theoretical	ADJ
ajfa-82	76	5	and	and	CCONJ
ajfa-82	76	6	empirical	empirical	ADJ
ajfa-82	76	7	investigations	investigation	NOUN
ajfa-82	76	8	extant	extant	ADJ
ajfa-82	76	9	in	in	ADP
ajfa-82	76	10	the	the	DET
ajfa-82	76	11	literature	literature	NOUN
ajfa-82	76	12	that	that	PRON
ajfa-82	76	13	are	be	AUX
ajfa-82	76	14	relevant	relevant	ADJ
ajfa-82	76	15	to	to	ADP
ajfa-82	76	16	the	the	DET
ajfa-82	76	17	present	present	ADJ
ajfa-82	76	18	investigation	investigation	NOUN
ajfa-82	76	19	.	.	PUNCT
ajfa-82	77	1	theoretical	theoretical	ADJ
ajfa-82	77	2	investigations	investigation	NOUN
ajfa-82	77	3	derive	derive	VERB
ajfa-82	77	4	mathematically	mathematically	ADV
ajfa-82	77	5	the	the	DET
ajfa-82	77	6	various	various	ADJ
ajfa-82	77	7	relationships	relationship	NOUN
ajfa-82	77	8	that	that	PRON
ajfa-82	77	9	exist	exist	VERB
ajfa-82	77	10	between	between	ADP
ajfa-82	77	11	risk	risk	NOUN
ajfa-82	77	12	aversion	aversion	NOUN
ajfa-82	77	13	,	,	PUNCT
ajfa-82	77	14	wealth	wealth	NOUN
ajfa-82	77	15	and	and	CCONJ
ajfa-82	77	16	the	the	DET
ajfa-82	77	17	demand	demand	NOUN
ajfa-82	77	18	for	for	ADP
ajfa-82	77	19	risky	risky	ADJ
ajfa-82	77	20	assets	asset	NOUN
ajfa-82	77	21	(	(	PUNCT
ajfa-82	77	22	see	see	VERB
ajfa-82	77	23	tobin	tobin	PROPN
ajfa-82	77	24	(	(	PUNCT
ajfa-82	77	25	1958	1958	NUM
ajfa-82	77	26	)	)	PUNCT
ajfa-82	77	27	,	,	PUNCT
ajfa-82	77	28	pratt	pratt	PROPN
ajfa-82	77	29	(	(	PUNCT
ajfa-82	77	30	1964	1964	NUM
ajfa-82	77	31	)	)	PUNCT
ajfa-82	77	32	and	and	CCONJ
ajfa-82	77	33	cass	cass	PROPN
ajfa-82	77	34	and	and	CCONJ
ajfa-82	77	35	stiglitz	stiglitz	PROPN
ajfa-82	77	36	(	(	PUNCT
ajfa-82	77	37	1972	1972	NUM
ajfa-82	77	38	)	)	PUNCT
ajfa-82	77	39	)	)	PUNCT
ajfa-82	77	40	.	.	PUNCT
ajfa-82	78	1	these	these	PRON
ajfa-82	78	2	have	have	AUX
ajfa-82	78	3	played	play	VERB
ajfa-82	78	4	a	a	DET
ajfa-82	78	5	fundamental	fundamental	ADJ
ajfa-82	78	6	role	role	NOUN
ajfa-82	78	7	in	in	ADP
ajfa-82	78	8	the	the	DET
ajfa-82	78	9	development	development	NOUN
ajfa-82	78	10	of	of	ADP
ajfa-82	78	11	various	various	ADJ
ajfa-82	78	12	branches	branch	NOUN
ajfa-82	78	13	of	of	ADP
ajfa-82	78	14	financial	financial	ADJ
ajfa-82	78	15	economics	economic	NOUN
ajfa-82	78	16	,	,	PUNCT
ajfa-82	78	17	including	include	VERB
ajfa-82	78	18	asset	asset	NOUN
ajfa-82	78	19	pricing	pricing	NOUN
ajfa-82	78	20	and	and	CCONJ
ajfa-82	78	21	the	the	DET
ajfa-82	78	22	determination	determination	NOUN
ajfa-82	78	23	of	of	ADP
ajfa-82	78	24	the	the	DET
ajfa-82	78	25	market	market	NOUN
ajfa-82	78	26	price	price	NOUN
ajfa-82	78	27	of	of	ADP
ajfa-82	78	28	risk	risk	NOUN
ajfa-82	78	29	(	(	PUNCT
ajfa-82	78	30	see	see	VERB
ajfa-82	78	31	landskroner	landskroner	NOUN
ajfa-82	78	32	(	(	PUNCT
ajfa-82	78	33	1977	1977	NUM
ajfa-82	78	34	)	)	PUNCT
ajfa-82	78	35	)	)	PUNCT
ajfa-82	78	36	.	.	PUNCT
ajfa-82	79	1	empirical	empirical	ADJ
ajfa-82	79	2	investigations	investigation	NOUN
ajfa-82	79	3	,	,	PUNCT
ajfa-82	79	4	which	which	PRON
ajfa-82	79	5	are	be	AUX
ajfa-82	79	6	relatively	relatively	ADV
ajfa-82	79	7	few	few	ADJ
ajfa-82	79	8	and	and	CCONJ
ajfa-82	79	9	far	far	ADV
ajfa-82	79	10	between	between	ADP
ajfa-82	79	11	,	,	PUNCT
ajfa-82	79	12	into	into	ADP
ajfa-82	79	13	the	the	DET
ajfa-82	79	14	type	type	NOUN
ajfa-82	79	15	of	of	ADP
ajfa-82	79	16	relative	relative	ADJ
ajfa-82	79	17	risk	risk	NOUN
ajfa-82	79	18	aversion	aversion	NOUN
ajfa-82	79	19	that	that	PRON
ajfa-82	79	20	characterises	characterise	VERB
ajfa-82	79	21	individuals	individual	NOUN
ajfa-82	79	22	,	,	PUNCT
ajfa-82	79	23	have	have	AUX
ajfa-82	79	24	generally	generally	ADV
ajfa-82	79	25	been	be	AUX
ajfa-82	79	26	conducted	conduct	VERB
ajfa-82	79	27	using	use	VERB
ajfa-82	79	28	data	datum	NOUN
ajfa-82	79	29	on	on	ADP
ajfa-82	79	30	households‟	households‟	NOUN
ajfa-82	79	31	assets	asset	NOUN
ajfa-82	79	32	.	.	PUNCT
ajfa-82	80	1	a	a	DET
ajfa-82	80	2	large	large	ADJ
ajfa-82	80	3	number	number	NOUN
ajfa-82	80	4	of	of	ADP
ajfa-82	80	5	investigations	investigation	NOUN
ajfa-82	80	6	into	into	ADP
ajfa-82	80	7	the	the	DET
ajfa-82	80	8	risk	risk	NOUN
ajfa-82	80	9	aversion	aversion	NOUN
ajfa-82	80	10	of	of	ADP
ajfa-82	80	11	individuals	individual	NOUN
ajfa-82	80	12	have	have	AUX
ajfa-82	80	13	also	also	ADV
ajfa-82	80	14	been	be	AUX
ajfa-82	80	15	undertaken	undertake	VERB
ajfa-82	80	16	through	through	ADP
ajfa-82	80	17	economics	economics	NOUN
ajfa-82	80	18	experiments	experiment	NOUN
ajfa-82	80	19	and	and	CCONJ
ajfa-82	80	20	psychological	psychological	ADJ
ajfa-82	80	21	questionnaires	questionnaire	NOUN
ajfa-82	80	22	(	(	PUNCT
ajfa-82	80	23	see	see	VERB
ajfa-82	80	24	,	,	PUNCT
ajfa-82	80	25	for	for	ADP
ajfa-82	80	26	example	example	NOUN
ajfa-82	80	27	,	,	PUNCT
ajfa-82	80	28	donkers	donker	NOUN
ajfa-82	80	29	,	,	PUNCT
ajfa-82	80	30	melenberg	melenberg	PROPN
ajfa-82	80	31	and	and	CCONJ
ajfa-82	80	32	van	van	PROPN
ajfa-82	80	33	soest	so	ADJ
ajfa-82	80	34	(	(	PUNCT
ajfa-82	80	35	2001	2001	NUM
ajfa-82	80	36	)	)	PUNCT
ajfa-82	80	37	)	)	PUNCT
ajfa-82	80	38	.	.	PUNCT
ajfa-82	81	1	however	however	ADV
ajfa-82	81	2	,	,	PUNCT
ajfa-82	81	3	these	these	DET
ajfa-82	81	4	studies	study	NOUN
ajfa-82	81	5	are	be	AUX
ajfa-82	81	6	often	often	ADV
ajfa-82	81	7	discounted	discount	VERB
ajfa-82	81	8	because	because	SCONJ
ajfa-82	81	9	it	it	PRON
ajfa-82	81	10	is	be	AUX
ajfa-82	81	11	impossible	impossible	ADJ
ajfa-82	81	12	to	to	PART
ajfa-82	81	13	design	design	VERB
ajfa-82	81	14	experiments	experiment	NOUN
ajfa-82	81	15	or	or	CCONJ
ajfa-82	81	16	questionnaires	questionnaire	NOUN
ajfa-82	81	17	involving	involve	VERB
ajfa-82	81	18	significant	significant	ADJ
ajfa-82	81	19	monetary	monetary	ADJ
ajfa-82	81	20	stakes	stake	NOUN
ajfa-82	81	21	(	(	PUNCT
ajfa-82	81	22	campbell	campbell	PROPN
ajfa-82	81	23	,	,	PUNCT
ajfa-82	81	24	2003	2003	NUM
ajfa-82	81	25	,	,	PUNCT
ajfa-82	81	26	p.53	p.53	NOUN
ajfa-82	81	27	)	)	PUNCT
ajfa-82	81	28	.	.	PUNCT
ajfa-82	82	1	the	the	DET
ajfa-82	82	2	first	first	ADJ
ajfa-82	82	3	major	major	ADJ
ajfa-82	82	4	empirical	empirical	ADJ
ajfa-82	82	5	investigation	investigation	NOUN
ajfa-82	82	6	into	into	ADP
ajfa-82	82	7	the	the	DET
ajfa-82	82	8	nature	nature	NOUN
ajfa-82	82	9	of	of	ADP
ajfa-82	82	10	household‟s	household‟s	NOUN
ajfa-82	82	11	utility	utility	NOUN
ajfa-82	82	12	of	of	ADP
ajfa-82	82	13	wealth	wealth	NOUN
ajfa-82	82	14	functions	function	NOUN
ajfa-82	82	15	was	be	AUX
ajfa-82	82	16	undertaken	undertake	VERB
ajfa-82	82	17	by	by	ADP
ajfa-82	82	18	friend	friend	NOUN
ajfa-82	82	19	and	and	CCONJ
ajfa-82	82	20	blume	blume	PROPN
ajfa-82	82	21	(	(	PUNCT
ajfa-82	82	22	1975	1975	NUM
ajfa-82	82	23	)	)	PUNCT
ajfa-82	82	24	.	.	PUNCT
ajfa-82	83	1	using	use	VERB
ajfa-82	83	2	data	datum	NOUN
ajfa-82	83	3	from	from	ADP
ajfa-82	83	4	the	the	DET
ajfa-82	83	5	1962	1962	NUM
ajfa-82	83	6	and	and	CCONJ
ajfa-82	83	7	1963	1963	NUM
ajfa-82	83	8	federal	federal	PROPN
ajfa-82	83	9	reserve	reserve	PROPN
ajfa-82	83	10	board	board	PROPN
ajfa-82	83	11	surveys	survey	NOUN
ajfa-82	83	12	,	,	PUNCT
ajfa-82	83	13	these	these	DET
ajfa-82	83	14	researchers	researcher	NOUN
ajfa-82	83	15	concluded	conclude	VERB
ajfa-82	83	16	that	that	SCONJ
ajfa-82	83	17	the	the	DET
ajfa-82	83	18	assumption	assumption	NOUN
ajfa-82	83	19	of	of	ADP
ajfa-82	83	20	constant	constant	ADJ
ajfa-82	83	21	relative	relative	ADJ
ajfa-82	83	22	risk	risk	NOUN
ajfa-82	83	23	aversion	aversion	NOUN
ajfa-82	83	24	is	be	AUX
ajfa-82	83	25	a	a	DET
ajfa-82	83	26	“	"	PUNCT
ajfa-82	83	27	…	…	PUNCT
ajfa-82	83	28	fairly	fairly	ADV
ajfa-82	83	29	accurate	accurate	ADJ
ajfa-82	83	30	description	description	NOUN
ajfa-82	83	31	of	of	ADP
ajfa-82	83	32	the	the	DET
ajfa-82	83	33	market	market	NOUN
ajfa-82	83	34	place	place	NOUN
ajfa-82	83	35	.	.	PUNCT
ajfa-82	83	36	”	"	PUNCT
ajfa-82	84	1	in	in	ADP
ajfa-82	84	2	order	order	NOUN
ajfa-82	84	3	to	to	PART
ajfa-82	84	4	arrive	arrive	VERB
ajfa-82	84	5	at	at	ADP
ajfa-82	84	6	this	this	DET
ajfa-82	84	7	conclusion	conclusion	NOUN
ajfa-82	84	8	,	,	PUNCT
ajfa-82	84	9	the	the	DET
ajfa-82	84	10	authors	author	NOUN
ajfa-82	84	11	derived	derive	VERB
ajfa-82	84	12	a	a	DET
ajfa-82	84	13	number	number	NOUN
ajfa-82	84	14	of	of	ADP
ajfa-82	84	15	equilibrium	equilibrium	NOUN
ajfa-82	84	16	expressions	expression	NOUN
ajfa-82	84	17	that	that	PRON
ajfa-82	84	18	were	be	AUX
ajfa-82	84	19	compatible	compatible	ADJ
ajfa-82	84	20	with	with	ADP
ajfa-82	84	21	the	the	DET
ajfa-82	84	22	federal	federal	PROPN
ajfa-82	84	23	reserve	reserve	PROPN
ajfa-82	84	24	board‟s	board‟s	PROPN
ajfa-82	84	25	cross	cross	ADJ
ajfa-82	84	26	-	-	ADJ
ajfa-82	84	27	sectional	sectional	ADJ
ajfa-82	84	28	data	datum	NOUN
ajfa-82	84	29	.	.	PUNCT
ajfa-82	85	1	of	of	ADP
ajfa-82	85	2	particular	particular	ADJ
ajfa-82	85	3	interest	interest	NOUN
ajfa-82	85	4	is	be	AUX
ajfa-82	85	5	the	the	DET
ajfa-82	85	6	following	follow	VERB
ajfa-82	85	7	relationship	relationship	NOUN
ajfa-82	85	8	:	:	PUNCT
ajfa-82	85	9	kkm	kkm	PROPN
ajfa-82	85	10	fm	fm	PROPN
ajfa-82	85	11	k	k	PROPN
ajfa-82	85	12	ct	ct	PROPN
ajfa-82	85	13	rre	rre	NOUN
ajfa-82	85	14	)	)	PUNCT
ajfa-82	85	15	1	1	NUM
ajfa-82	85	16	(	(	PUNCT
ajfa-82	85	17	1	1	NUM
ajfa-82	85	18	)	)	PUNCT
ajfa-82	85	19	(	(	PUNCT
ajfa-82	85	20	2	2	NUM
ajfa-82	85	21	(	(	PUNCT
ajfa-82	85	22	3	3	NUM
ajfa-82	85	23	)	)	PUNCT
ajfa-82	85	24	where	where	SCONJ
ajfa-82	85	25	mr	mr	PROPN
ajfa-82	85	26	is	be	AUX
ajfa-82	85	27	the	the	DET
ajfa-82	85	28	return	return	NOUN
ajfa-82	85	29	on	on	ADP
ajfa-82	85	30	the	the	DET
ajfa-82	85	31	market	market	NOUN
ajfa-82	85	32	portfolio	portfolio	NOUN
ajfa-82	85	33	of	of	ADP
ajfa-82	85	34	all	all	DET
ajfa-82	85	35	risky	risky	ADJ
ajfa-82	85	36	assets	asset	NOUN
ajfa-82	85	37	,	,	PUNCT
ajfa-82	85	38	fr	fr	PROPN
ajfa-82	85	39	is	be	AUX
ajfa-82	85	40	the	the	DET
ajfa-82	85	41	return	return	NOUN
ajfa-82	85	42	on	on	ADP
ajfa-82	85	43	the	the	DET
ajfa-82	85	44	risk	risk	NOUN
ajfa-82	85	45	-	-	PUNCT
ajfa-82	85	46	free	free	ADJ
ajfa-82	85	47	asset	asset	NOUN
ajfa-82	85	48	,	,	PUNCT
ajfa-82	85	49	m	m	VERB
ajfa-82	85	50	2	2	NUM
ajfa-82	85	51	is	be	AUX
ajfa-82	85	52	the	the	DET
ajfa-82	85	53	variance	variance	NOUN
ajfa-82	85	54	on	on	ADP
ajfa-82	85	55	the	the	DET
ajfa-82	85	56	market	market	NOUN
ajfa-82	85	57	portfolio	portfolio	NOUN
ajfa-82	85	58	,	,	PUNCT
ajfa-82	85	59	kt	kt	PROPN
ajfa-82	85	60	is	be	AUX
ajfa-82	85	61	the	the	DET
ajfa-82	85	62	average	average	ADJ
ajfa-82	85	63	rate	rate	NOUN
ajfa-82	85	64	of	of	ADP
ajfa-82	85	65	tax	tax	NOUN
ajfa-82	85	66	for	for	ADP
ajfa-82	85	67	investor	investor	NOUN
ajfa-82	85	68	k	k	PROPN
ajfa-82	85	69	and	and	CCONJ
ajfa-82	85	70	kc	kc	PROPN
ajfa-82	85	71	is	be	AUX
ajfa-82	85	72	the	the	DET
ajfa-82	85	73	arrow	arrow	NOUN
ajfa-82	85	74	-	-	PUNCT
ajfa-82	85	75	pratt	pratt	NOUN
ajfa-82	85	76	measure	measure	NOUN
ajfa-82	85	77	of	of	ADP
ajfa-82	85	78	relative	relative	ADJ
ajfa-82	85	79	risk	risk	NOUN
ajfa-82	85	80	aversion	aversion	NOUN
ajfa-82	85	81	.	.	PUNCT
ajfa-82	86	1	if	if	SCONJ
ajfa-82	86	2	this	this	DET
ajfa-82	86	3	relationship	relationship	NOUN
ajfa-82	86	4	holds	hold	VERB
ajfa-82	86	5	and	and	CCONJ
ajfa-82	86	6	if	if	SCONJ
ajfa-82	86	7	investors	investor	NOUN
ajfa-82	86	8	agree	agree	VERB
ajfa-82	86	9	on	on	ADP
ajfa-82	86	10	the	the	DET
ajfa-82	86	11	market	market	NOUN
ajfa-82	86	12	price	price	NOUN
ajfa-82	86	13	of	of	ADP
ajfa-82	86	14	risk	risk	NOUN
ajfa-82	86	15	then	then	ADV
ajfa-82	86	16	,	,	PUNCT
ajfa-82	86	17	by	by	ADP
ajfa-82	86	18	simple	simple	ADJ
ajfa-82	86	19	algebraic	algebraic	ADJ
ajfa-82	86	20	manipulation	manipulation	NOUN
ajfa-82	86	21	of	of	ADP
ajfa-82	86	22	the	the	DET
ajfa-82	86	23	equation	equation	NOUN
ajfa-82	86	24	(	(	PUNCT
ajfa-82	86	25	3	3	X
ajfa-82	86	26	)	)	PUNCT
ajfa-82	86	27	an	an	DET
ajfa-82	86	28	estimate	estimate	NOUN
ajfa-82	86	29	of	of	ADP
ajfa-82	86	30	kmfm	kmfm	PROPN
ajfa-82	86	31	crre	crre	PROPN
ajfa-82	86	32	12	12	NUM
ajfa-82	86	33	]	]	PUNCT
ajfa-82	86	34	/	/	SYM
ajfa-82	86	35	)	)	PUNCT
ajfa-82	86	36	(	(	PUNCT
ajfa-82	86	37	[	[	PUNCT
ajfa-82	86	38	is	be	AUX
ajfa-82	86	39	given	give	VERB
ajfa-82	86	40	by	by	ADP
ajfa-82	86	41	asian	asian	ADJ
ajfa-82	86	42	journal	journal	PROPN
ajfa-82	86	43	of	of	ADP
ajfa-82	86	44	finance	finance	PROPN
ajfa-82	86	45	&	&	CCONJ
ajfa-82	86	46	accounting	accounting	PROPN
ajfa-82	86	47	issn	issn	PROPN
ajfa-82	86	48	1946	1946	NUM
ajfa-82	86	49	-	-	PUNCT
ajfa-82	86	50	052x	052x	NOUN
ajfa-82	86	51	2009	2009	NUM
ajfa-82	86	52	,	,	PUNCT
ajfa-82	86	53	vol	vol	NOUN
ajfa-82	86	54	.	.	PROPN
ajfa-82	87	1	1	1	NUM
ajfa-82	87	2	,	,	PUNCT
ajfa-82	87	3	no	no	INTJ
ajfa-82	87	4	.	.	NOUN
ajfa-82	87	5	1	1	NUM
ajfa-82	87	6	:	:	PUNCT
ajfa-82	87	7	e1	e1	VERB
ajfa-82	87	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	87	9	59	59	NUM
ajfa-82	87	10	)	)	PUNCT
ajfa-82	87	11	1	1	NUM
ajfa-82	87	12	(	(	PUNCT
ajfa-82	87	13	kk	kk	PROPN
ajfa-82	87	14	t	t	PROPN
ajfa-82	87	15	.	.	PUNCT
ajfa-82	88	1	according	accord	VERB
ajfa-82	88	2	to	to	ADP
ajfa-82	88	3	friend	friend	NOUN
ajfa-82	88	4	and	and	CCONJ
ajfa-82	88	5	blume	blume	PROPN
ajfa-82	88	6	(	(	PUNCT
ajfa-82	88	7	1975	1975	NUM
ajfa-82	88	8	,	,	PUNCT
ajfa-82	88	9	p.908	p.908	NOUN
ajfa-82	88	10	)	)	PUNCT
ajfa-82	88	11	,	,	PUNCT
ajfa-82	88	12	this	this	PRON
ajfa-82	88	13	means	mean	VERB
ajfa-82	88	14	that	that	SCONJ
ajfa-82	88	15	“	"	PUNCT
ajfa-82	88	16	)	)	PUNCT
ajfa-82	88	17	1	1	NUM
ajfa-82	88	18	(	(	PUNCT
ajfa-82	88	19	kk	kk	PROPN
ajfa-82	88	20	t	t	PROPN
ajfa-82	88	21	provides	provide	VERB
ajfa-82	88	22	an	an	DET
ajfa-82	88	23	estimate	estimate	NOUN
ajfa-82	88	24	of	of	ADP
ajfa-82	88	25	kc	kc	PROPN
ajfa-82	88	26	1	1	NUM
ajfa-82	88	27	up	up	ADP
ajfa-82	88	28	to	to	ADP
ajfa-82	88	29	a	a	DET
ajfa-82	88	30	multiplicative	multiplicative	ADJ
ajfa-82	88	31	constant	constant	NOUN
ajfa-82	88	32	,	,	PUNCT
ajfa-82	88	33	so	so	SCONJ
ajfa-82	88	34	that	that	SCONJ
ajfa-82	88	35	)	)	PUNCT
ajfa-82	88	36	1	1	X
ajfa-82	88	37	(	(	PUNCT
ajfa-82	88	38	kk	kk	PROPN
ajfa-82	88	39	t	t	PROPN
ajfa-82	88	40	can	can	AUX
ajfa-82	88	41	be	be	AUX
ajfa-82	88	42	used	use	VERB
ajfa-82	88	43	to	to	PART
ajfa-82	88	44	assess	assess	VERB
ajfa-82	88	45	how	how	SCONJ
ajfa-82	88	46	kc	kc	PROPN
ajfa-82	88	47	1	1	NUM
ajfa-82	88	48	and	and	CCONJ
ajfa-82	88	49	,	,	PUNCT
ajfa-82	88	50	thereby	thereby	ADV
ajfa-82	88	51	,	,	PUNCT
ajfa-82	88	52	how	how	SCONJ
ajfa-82	88	53	kc	kc	PROPN
ajfa-82	88	54	varies	vary	VERB
ajfa-82	88	55	with	with	ADP
ajfa-82	88	56	net	net	ADJ
ajfa-82	88	57	worth	worth	NOUN
ajfa-82	88	58	.	.	PUNCT
ajfa-82	88	59	”	"	PUNCT
ajfa-82	89	1	the	the	DET
ajfa-82	89	2	empirical	empirical	ADJ
ajfa-82	89	3	results	result	NOUN
ajfa-82	89	4	generated	generate	VERB
ajfa-82	89	5	by	by	ADP
ajfa-82	89	6	friend	friend	NOUN
ajfa-82	89	7	and	and	CCONJ
ajfa-82	89	8	blume	blume	PROPN
ajfa-82	89	9	(	(	PUNCT
ajfa-82	89	10	1975	1975	NUM
ajfa-82	89	11	)	)	PUNCT
ajfa-82	89	12	indicated	indicate	VERB
ajfa-82	89	13	that	that	SCONJ
ajfa-82	89	14	)	)	PUNCT
ajfa-82	89	15	1	1	X
ajfa-82	89	16	(	(	PUNCT
ajfa-82	89	17	kk	kk	PROPN
ajfa-82	89	18	t	t	PROPN
ajfa-82	89	19	was	be	AUX
ajfa-82	89	20	invariant	invariant	ADJ
ajfa-82	89	21	to	to	ADP
ajfa-82	89	22	net	net	ADJ
ajfa-82	89	23	wealth	wealth	NOUN
ajfa-82	89	24	,	,	PUNCT
ajfa-82	89	25	leading	lead	VERB
ajfa-82	89	26	them	they	PRON
ajfa-82	89	27	to	to	PART
ajfa-82	89	28	conclude	conclude	VERB
ajfa-82	89	29	that	that	DET
ajfa-82	89	30	relative	relative	ADJ
ajfa-82	89	31	risk	risk	NOUN
ajfa-82	89	32	aversion	aversion	NOUN
ajfa-82	89	33	was	be	AUX
ajfa-82	89	34	constant	constant	ADJ
ajfa-82	89	35	.	.	PUNCT
ajfa-82	90	1	in	in	ADP
ajfa-82	90	2	a	a	DET
ajfa-82	90	3	study	study	NOUN
ajfa-82	90	4	produced	produce	VERB
ajfa-82	90	5	a	a	DET
ajfa-82	90	6	short	short	ADJ
ajfa-82	90	7	time	time	NOUN
ajfa-82	90	8	later	later	ADV
ajfa-82	90	9	,	,	PUNCT
ajfa-82	90	10	the	the	DET
ajfa-82	90	11	same	same	ADJ
ajfa-82	90	12	authors	author	NOUN
ajfa-82	90	13	(	(	PUNCT
ajfa-82	90	14	marshall	marshall	PROPN
ajfa-82	90	15	blume	blume	PROPN
ajfa-82	90	16	and	and	CCONJ
ajfa-82	90	17	irwin	irwin	PROPN
ajfa-82	90	18	friend	friend	PROPN
ajfa-82	90	19	)	)	PUNCT
ajfa-82	90	20	again	again	ADV
ajfa-82	90	21	concluded	conclude	VERB
ajfa-82	90	22	that	that	SCONJ
ajfa-82	90	23	households	household	NOUN
ajfa-82	90	24	exhibit	exhibit	VERB
ajfa-82	90	25	constant	constant	ADJ
ajfa-82	90	26	relative	relative	ADJ
ajfa-82	90	27	risk	risk	NOUN
ajfa-82	90	28	aversion	aversion	NOUN
ajfa-82	90	29	.	.	PUNCT
ajfa-82	91	1	blume	blume	PROPN
ajfa-82	91	2	and	and	CCONJ
ajfa-82	91	3	friend	friend	NOUN
ajfa-82	91	4	(	(	PUNCT
ajfa-82	91	5	1975	1975	NUM
ajfa-82	91	6	)	)	PUNCT
ajfa-82	91	7	2	2	NUM
ajfa-82	91	8	,	,	PUNCT
ajfa-82	91	9	using	use	VERB
ajfa-82	91	10	data	datum	NOUN
ajfa-82	91	11	from	from	ADP
ajfa-82	91	12	income	income	NOUN
ajfa-82	91	13	tax	tax	NOUN
ajfa-82	91	14	returns	return	NOUN
ajfa-82	91	15	filed	file	VERB
ajfa-82	91	16	during	during	ADP
ajfa-82	91	17	1971	1971	NUM
ajfa-82	91	18	as	as	ADV
ajfa-82	91	19	well	well	ADV
ajfa-82	91	20	as	as	ADP
ajfa-82	91	21	the	the	DET
ajfa-82	91	22	federal	federal	PROPN
ajfa-82	91	23	reserve	reserve	PROPN
ajfa-82	91	24	board‟s	board‟s	PROPN
ajfa-82	91	25	1962	1962	NUM
ajfa-82	91	26	survey	survey	NOUN
ajfa-82	91	27	,	,	PUNCT
ajfa-82	91	28	again	again	ADV
ajfa-82	91	29	examined	examine	VERB
ajfa-82	91	30	the	the	DET
ajfa-82	91	31	utility	utility	NOUN
ajfa-82	91	32	of	of	ADP
ajfa-82	91	33	wealth	wealth	NOUN
ajfa-82	91	34	functions	function	NOUN
ajfa-82	91	35	of	of	ADP
ajfa-82	91	36	american	american	ADJ
ajfa-82	91	37	households	household	NOUN
ajfa-82	91	38	.	.	PUNCT
ajfa-82	92	1	this	this	DET
ajfa-82	92	2	time	time	NOUN
ajfa-82	92	3	,	,	PUNCT
ajfa-82	92	4	however	however	ADV
ajfa-82	92	5	,	,	PUNCT
ajfa-82	92	6	the	the	DET
ajfa-82	92	7	authors	author	NOUN
ajfa-82	92	8	deployed	deploy	VERB
ajfa-82	92	9	slightly	slightly	ADV
ajfa-82	92	10	different	different	ADJ
ajfa-82	92	11	assumptions	assumption	NOUN
ajfa-82	92	12	in	in	ADP
ajfa-82	92	13	their	their	PRON
ajfa-82	92	14	work	work	NOUN
ajfa-82	92	15	.	.	PUNCT
ajfa-82	93	1	the	the	DET
ajfa-82	93	2	authors‟	authors‟	PROPN
ajfa-82	93	3	first	first	ADJ
ajfa-82	93	4	study	study	NOUN
ajfa-82	93	5	was	be	AUX
ajfa-82	93	6	based	base	VERB
ajfa-82	93	7	upon	upon	SCONJ
ajfa-82	93	8	the	the	DET
ajfa-82	93	9	assumption	assumption	NOUN
ajfa-82	93	10	that	that	SCONJ
ajfa-82	93	11	investors	investor	NOUN
ajfa-82	93	12	have	have	AUX
ajfa-82	93	13	homogenous	homogenous	ADJ
ajfa-82	93	14	expectations	expectation	NOUN
ajfa-82	93	15	.	.	PUNCT
ajfa-82	94	1	suspecting	suspect	VERB
ajfa-82	94	2	the	the	DET
ajfa-82	94	3	possibility	possibility	NOUN
ajfa-82	94	4	that	that	SCONJ
ajfa-82	94	5	heterogeneous	heterogeneous	ADJ
ajfa-82	94	6	expectations	expectation	NOUN
ajfa-82	94	7	may	may	AUX
ajfa-82	94	8	have	have	AUX
ajfa-82	94	9	interfered	interfere	VERB
ajfa-82	94	10	with	with	ADP
ajfa-82	94	11	the	the	DET
ajfa-82	94	12	conclusions	conclusion	NOUN
ajfa-82	94	13	of	of	ADP
ajfa-82	94	14	their	their	PRON
ajfa-82	94	15	previous	previous	ADJ
ajfa-82	94	16	investigation	investigation	NOUN
ajfa-82	94	17	,	,	PUNCT
ajfa-82	94	18	blume	blume	PROPN
ajfa-82	94	19	and	and	CCONJ
ajfa-82	94	20	friend	friend	NOUN
ajfa-82	94	21	(	(	PUNCT
ajfa-82	94	22	1975	1975	NUM
ajfa-82	94	23	)	)	PUNCT
ajfa-82	94	24	used	use	VERB
ajfa-82	94	25	a	a	DET
ajfa-82	94	26	sample	sample	NOUN
ajfa-82	94	27	more	more	ADV
ajfa-82	94	28	plausibly	plausibly	ADV
ajfa-82	94	29	characterised	characterise	VERB
ajfa-82	94	30	by	by	ADP
ajfa-82	94	31	homogenous	homogenous	ADJ
ajfa-82	94	32	expectations	expectation	NOUN
ajfa-82	94	33	(	(	PUNCT
ajfa-82	94	34	blume	blume	NOUN
ajfa-82	94	35	and	and	CCONJ
ajfa-82	94	36	friend	friend	NOUN
ajfa-82	94	37	,	,	PUNCT
ajfa-82	94	38	1975	1975	NUM
ajfa-82	94	39	,	,	PUNCT
ajfa-82	94	40	p.602	p.602	NOUN
ajfa-82	94	41	)	)	PUNCT
ajfa-82	94	42	.	.	PUNCT
ajfa-82	95	1	as	as	SCONJ
ajfa-82	95	2	mentioned	mention	VERB
ajfa-82	95	3	above	above	ADV
ajfa-82	95	4	,	,	PUNCT
ajfa-82	95	5	the	the	DET
ajfa-82	95	6	conclusion	conclusion	NOUN
ajfa-82	95	7	of	of	ADP
ajfa-82	95	8	constant	constant	ADJ
ajfa-82	95	9	relative	relative	ADJ
ajfa-82	95	10	risk	risk	NOUN
ajfa-82	95	11	aversion	aversion	NOUN
ajfa-82	95	12	generated	generate	VERB
ajfa-82	95	13	in	in	ADP
ajfa-82	95	14	the	the	DET
ajfa-82	95	15	earlier	early	ADJ
ajfa-82	95	16	paper	paper	NOUN
ajfa-82	95	17	was	be	AUX
ajfa-82	95	18	supported	support	VERB
ajfa-82	95	19	.	.	PUNCT
ajfa-82	96	1	the	the	DET
ajfa-82	96	2	other	other	ADJ
ajfa-82	96	3	empirical	empirical	ADJ
ajfa-82	96	4	study	study	NOUN
ajfa-82	96	5	into	into	ADP
ajfa-82	96	6	the	the	DET
ajfa-82	96	7	nature	nature	NOUN
ajfa-82	96	8	of	of	ADP
ajfa-82	96	9	individuals‟	individuals‟	PROPN
ajfa-82	96	10	relative	relative	ADJ
ajfa-82	96	11	risk	risk	NOUN
ajfa-82	96	12	aversion	aversion	NOUN
ajfa-82	96	13	that	that	PRON
ajfa-82	96	14	is	be	AUX
ajfa-82	96	15	of	of	ADP
ajfa-82	96	16	particular	particular	ADJ
ajfa-82	96	17	note	note	NOUN
ajfa-82	96	18	is	be	AUX
ajfa-82	96	19	cohn	cohn	PROPN
ajfa-82	96	20	,	,	PUNCT
ajfa-82	96	21	lewellen	lewellen	NOUN
ajfa-82	96	22	,	,	PUNCT
ajfa-82	96	23	lease	lease	NOUN
ajfa-82	96	24	and	and	CCONJ
ajfa-82	96	25	schlarbaum	schlarbaum	NOUN
ajfa-82	96	26	(	(	PUNCT
ajfa-82	96	27	1975	1975	NUM
ajfa-82	96	28	)	)	PUNCT
ajfa-82	96	29	.	.	PUNCT
ajfa-82	97	1	these	these	DET
ajfa-82	97	2	authors	author	NOUN
ajfa-82	97	3	used	use	VERB
ajfa-82	97	4	data	datum	NOUN
ajfa-82	97	5	obtained	obtain	VERB
ajfa-82	97	6	from	from	ADP
ajfa-82	97	7	a	a	DET
ajfa-82	97	8	survey	survey	NOUN
ajfa-82	97	9	of	of	ADP
ajfa-82	97	10	customers	customer	NOUN
ajfa-82	97	11	of	of	ADP
ajfa-82	97	12	a	a	DET
ajfa-82	97	13	large	large	ADJ
ajfa-82	97	14	nation	nation	NOUN
ajfa-82	97	15	-	-	PUNCT
ajfa-82	97	16	wide	wide	ADJ
ajfa-82	97	17	brokerage	brokerage	NOUN
ajfa-82	97	18	house	house	NOUN
ajfa-82	97	19	(	(	PUNCT
ajfa-82	97	20	in	in	ADP
ajfa-82	97	21	the	the	DET
ajfa-82	97	22	united	united	PROPN
ajfa-82	97	23	states	states	PROPN
ajfa-82	97	24	)	)	PUNCT
ajfa-82	97	25	.	.	PUNCT
ajfa-82	98	1	their	their	PRON
ajfa-82	98	2	methodology	methodology	NOUN
ajfa-82	98	3	differs	differ	VERB
ajfa-82	98	4	markedly	markedly	ADV
ajfa-82	98	5	from	from	ADP
ajfa-82	98	6	that	that	PRON
ajfa-82	98	7	of	of	ADP
ajfa-82	98	8	friend	friend	NOUN
ajfa-82	98	9	and	and	CCONJ
ajfa-82	98	10	blume	blume	PROPN
ajfa-82	98	11	.	.	PUNCT
ajfa-82	99	1	specifically	specifically	ADV
ajfa-82	99	2	,	,	PUNCT
ajfa-82	99	3	where	where	SCONJ
ajfa-82	99	4	the	the	DET
ajfa-82	99	5	friend	friend	NOUN
ajfa-82	99	6	and	and	CCONJ
ajfa-82	99	7	blume	blume	PROPN
ajfa-82	99	8	studies	study	NOUN
ajfa-82	99	9	are	be	AUX
ajfa-82	99	10	based	base	VERB
ajfa-82	99	11	upon	upon	SCONJ
ajfa-82	99	12	the	the	DET
ajfa-82	99	13	derivation	derivation	NOUN
ajfa-82	99	14	of	of	ADP
ajfa-82	99	15	various	various	ADJ
ajfa-82	99	16	theoretical	theoretical	ADJ
ajfa-82	99	17	relationships	relationship	NOUN
ajfa-82	99	18	between	between	ADP
ajfa-82	99	19	household	household	NOUN
ajfa-82	99	20	wealth	wealth	NOUN
ajfa-82	99	21	and	and	CCONJ
ajfa-82	99	22	utility	utility	NOUN
ajfa-82	99	23	functions	function	NOUN
ajfa-82	99	24	,	,	PUNCT
ajfa-82	99	25	cohn	cohn	PROPN
ajfa-82	99	26	et	et	PROPN
ajfa-82	99	27	al	al	PROPN
ajfa-82	99	28	.	.	PROPN
ajfa-82	100	1	(	(	PUNCT
ajfa-82	100	2	1975	1975	NUM
ajfa-82	100	3	)	)	PUNCT
ajfa-82	100	4	explored	explore	VERB
ajfa-82	100	5	only	only	ADV
ajfa-82	100	6	the	the	DET
ajfa-82	100	7	empirical	empirical	ADJ
ajfa-82	100	8	relationship	relationship	NOUN
ajfa-82	100	9	between	between	ADP
ajfa-82	100	10	household	household	NOUN
ajfa-82	100	11	wealth	wealth	NOUN
ajfa-82	100	12	and	and	CCONJ
ajfa-82	100	13	investment	investment	NOUN
ajfa-82	100	14	in	in	ADP
ajfa-82	100	15	risky	risky	ADJ
ajfa-82	100	16	assets	asset	NOUN
ajfa-82	100	17	.	.	PUNCT
ajfa-82	101	1	cohn	cohn	PROPN
ajfa-82	101	2	et	et	PROPN
ajfa-82	101	3	al	al	PROPN
ajfa-82	101	4	.	.	PROPN
ajfa-82	102	1	(	(	PUNCT
ajfa-82	102	2	1975	1975	NUM
ajfa-82	102	3	)	)	PUNCT
ajfa-82	102	4	found	find	VERB
ajfa-82	102	5	that	that	SCONJ
ajfa-82	102	6	,	,	PUNCT
ajfa-82	102	7	as	as	SCONJ
ajfa-82	102	8	wealth	wealth	NOUN
ajfa-82	102	9	increases	increase	NOUN
ajfa-82	102	10	,	,	PUNCT
ajfa-82	102	11	the	the	DET
ajfa-82	102	12	proportion	proportion	NOUN
ajfa-82	102	13	of	of	ADP
ajfa-82	102	14	wealth	wealth	NOUN
ajfa-82	102	15	invested	invest	VERB
ajfa-82	102	16	in	in	ADP
ajfa-82	102	17	risky	risky	ADJ
ajfa-82	102	18	assets	asset	NOUN
ajfa-82	102	19	also	also	ADV
ajfa-82	102	20	increased	increase	VERB
ajfa-82	102	21	.	.	PUNCT
ajfa-82	103	1	that	that	PRON
ajfa-82	103	2	is	be	AUX
ajfa-82	103	3	,	,	PUNCT
ajfa-82	103	4	higher	high	ADJ
ajfa-82	103	5	net	net	ADJ
ajfa-82	103	6	worth	worth	ADJ
ajfa-82	103	7	households	household	NOUN
ajfa-82	103	8	invested	invest	VERB
ajfa-82	103	9	a	a	DET
ajfa-82	103	10	larger	large	ADJ
ajfa-82	103	11	percentage	percentage	NOUN
ajfa-82	103	12	of	of	ADP
ajfa-82	103	13	their	their	PRON
ajfa-82	103	14	wealth	wealth	NOUN
ajfa-82	103	15	in	in	ADP
ajfa-82	103	16	risky	risky	ADJ
ajfa-82	103	17	assets	asset	NOUN
ajfa-82	103	18	than	than	ADP
ajfa-82	103	19	lower	low	ADJ
ajfa-82	103	20	net	net	ADJ
ajfa-82	103	21	worth	worth	ADJ
ajfa-82	103	22	households	household	NOUN
ajfa-82	103	23	.	.	PUNCT
ajfa-82	104	1	cohn	cohn	PROPN
ajfa-82	104	2	et	et	PROPN
ajfa-82	104	3	al	al	PROPN
ajfa-82	104	4	.	.	PROPN
ajfa-82	105	1	(	(	PUNCT
ajfa-82	105	2	1975	1975	NUM
ajfa-82	105	3	)	)	PUNCT
ajfa-82	105	4	,	,	PUNCT
ajfa-82	105	5	therefore	therefore	ADV
ajfa-82	105	6	,	,	PUNCT
ajfa-82	105	7	generated	generate	VERB
ajfa-82	105	8	evidence	evidence	NOUN
ajfa-82	105	9	in	in	ADP
ajfa-82	105	10	favour	favour	NOUN
ajfa-82	105	11	of	of	ADP
ajfa-82	105	12	a	a	DET
ajfa-82	105	13	decreasing	decrease	VERB
ajfa-82	105	14	relative	relative	ADJ
ajfa-82	105	15	risk	risk	NOUN
ajfa-82	105	16	aversion	aversion	NOUN
ajfa-82	105	17	assumption	assumption	NOUN
ajfa-82	105	18	(	(	PUNCT
ajfa-82	105	19	in	in	ADP
ajfa-82	105	20	contrast	contrast	NOUN
ajfa-82	105	21	to	to	ADP
ajfa-82	105	22	blume	blume	PROPN
ajfa-82	105	23	and	and	CCONJ
ajfa-82	105	24	friend‟s	friend‟s	ADV
ajfa-82	105	25	constant	constant	ADJ
ajfa-82	105	26	relative	relative	ADJ
ajfa-82	105	27	risk	risk	NOUN
ajfa-82	105	28	aversion	aversion	NOUN
ajfa-82	105	29	conclusion	conclusion	NOUN
ajfa-82	105	30	)	)	PUNCT
ajfa-82	105	31	.	.	PUNCT
ajfa-82	106	1	the	the	DET
ajfa-82	106	2	empirical	empirical	ADJ
ajfa-82	106	3	studies	study	NOUN
ajfa-82	106	4	discussed	discuss	VERB
ajfa-82	106	5	above	above	ADV
ajfa-82	106	6	are	be	AUX
ajfa-82	106	7	the	the	DET
ajfa-82	106	8	seminal	seminal	ADJ
ajfa-82	106	9	investigations	investigation	NOUN
ajfa-82	106	10	into	into	ADP
ajfa-82	106	11	the	the	DET
ajfa-82	106	12	nature	nature	NOUN
ajfa-82	106	13	of	of	ADP
ajfa-82	106	14	household	household	NOUN
ajfa-82	106	15	risk	risk	NOUN
ajfa-82	106	16	aversion	aversion	NOUN
ajfa-82	106	17	and	and	CCONJ
ajfa-82	106	18	retain	retain	VERB
ajfa-82	106	19	a	a	DET
ajfa-82	106	20	place	place	NOUN
ajfa-82	106	21	of	of	ADP
ajfa-82	106	22	prominence	prominence	NOUN
ajfa-82	106	23	in	in	ADP
ajfa-82	106	24	the	the	DET
ajfa-82	106	25	literature	literature	NOUN
ajfa-82	106	26	.	.	PUNCT
ajfa-82	107	1	in	in	ADP
ajfa-82	107	2	some	some	DET
ajfa-82	107	3	ways	way	NOUN
ajfa-82	107	4	,	,	PUNCT
ajfa-82	107	5	the	the	DET
ajfa-82	107	6	work	work	NOUN
ajfa-82	107	7	presented	present	VERB
ajfa-82	107	8	in	in	ADP
ajfa-82	107	9	this	this	DET
ajfa-82	107	10	paper	paper	NOUN
ajfa-82	107	11	resembles	resemble	VERB
ajfa-82	107	12	these	these	DET
ajfa-82	107	13	studies	study	NOUN
ajfa-82	107	14	.	.	PUNCT
ajfa-82	108	1	in	in	ADP
ajfa-82	108	2	particular	particular	ADJ
ajfa-82	108	3	,	,	PUNCT
ajfa-82	108	4	the	the	DET
ajfa-82	108	5	methodology	methodology	NOUN
ajfa-82	108	6	deployed	deploy	VERB
ajfa-82	108	7	herein	herein	NOUN
ajfa-82	108	8	is	be	AUX
ajfa-82	108	9	essentially	essentially	ADV
ajfa-82	108	10	the	the	DET
ajfa-82	108	11	same	same	ADJ
ajfa-82	108	12	as	as	ADP
ajfa-82	108	13	that	that	PRON
ajfa-82	108	14	deployed	deploy	VERB
ajfa-82	108	15	by	by	ADP
ajfa-82	108	16	cohn	cohn	PROPN
ajfa-82	108	17	et	et	PROPN
ajfa-82	108	18	al	al	PROPN
ajfa-82	108	19	.	.	PROPN
ajfa-82	109	1	(	(	PUNCT
ajfa-82	109	2	1975	1975	NUM
ajfa-82	109	3	)	)	PUNCT
ajfa-82	109	4	.	.	PUNCT
ajfa-82	110	1	however	however	ADV
ajfa-82	110	2	,	,	PUNCT
ajfa-82	110	3	whereas	whereas	SCONJ
ajfa-82	110	4	these	these	DET
ajfa-82	110	5	studies	study	NOUN
ajfa-82	110	6	focussed	focusse	VERB
ajfa-82	110	7	on	on	ADP
ajfa-82	110	8	the	the	DET
ajfa-82	110	9	risk	risk	NOUN
ajfa-82	110	10	aversion	aversion	NOUN
ajfa-82	110	11	of	of	ADP
ajfa-82	110	12	investors	investor	NOUN
ajfa-82	110	13	in	in	ADP
ajfa-82	110	14	the	the	DET
ajfa-82	110	15	american	american	ADJ
ajfa-82	110	16	economy	economy	NOUN
ajfa-82	110	17	,	,	PUNCT
ajfa-82	110	18	we	we	PRON
ajfa-82	110	19	are	be	AUX
ajfa-82	110	20	interested	interested	ADJ
ajfa-82	110	21	2	2	NUM
ajfa-82	110	22	the	the	DET
ajfa-82	110	23	study	study	NOUN
ajfa-82	110	24	just	just	ADV
ajfa-82	110	25	discussed	discuss	VERB
ajfa-82	110	26	was	be	AUX
ajfa-82	110	27	friend	friend	NOUN
ajfa-82	110	28	and	and	CCONJ
ajfa-82	110	29	blume	blume	PROPN
ajfa-82	110	30	(	(	PUNCT
ajfa-82	110	31	1975	1975	NUM
ajfa-82	110	32	)	)	PUNCT
ajfa-82	110	33	.	.	PUNCT
ajfa-82	111	1	asian	asian	ADJ
ajfa-82	111	2	journal	journal	PROPN
ajfa-82	111	3	of	of	ADP
ajfa-82	111	4	finance	finance	PROPN
ajfa-82	111	5	&	&	CCONJ
ajfa-82	111	6	accounting	accounting	PROPN
ajfa-82	111	7	issn	issn	PROPN
ajfa-82	111	8	1946	1946	NUM
ajfa-82	111	9	-	-	PUNCT
ajfa-82	111	10	052x	052x	NOUN
ajfa-82	111	11	2009	2009	NUM
ajfa-82	111	12	,	,	PUNCT
ajfa-82	111	13	vol	vol	NOUN
ajfa-82	111	14	.	.	PROPN
ajfa-82	111	15	1	1	NUM
ajfa-82	111	16	,	,	PUNCT
ajfa-82	111	17	no	no	INTJ
ajfa-82	111	18	.	.	NOUN
ajfa-82	111	19	1	1	NUM
ajfa-82	111	20	:	:	PUNCT
ajfa-82	111	21	e1	e1	VERB
ajfa-82	111	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	111	23	60	60	NUM
ajfa-82	111	24	in	in	ADP
ajfa-82	111	25	investigating	investigate	VERB
ajfa-82	111	26	the	the	DET
ajfa-82	111	27	relationship	relationship	NOUN
ajfa-82	111	28	between	between	ADP
ajfa-82	111	29	smsf	smsf	PROPN
ajfa-82	111	30	net	net	NOUN
ajfa-82	111	31	worth	worth	NOUN
ajfa-82	111	32	and	and	CCONJ
ajfa-82	111	33	allocations	allocation	NOUN
ajfa-82	111	34	to	to	ADP
ajfa-82	111	35	risky	risky	ADJ
ajfa-82	111	36	assets	asset	NOUN
ajfa-82	111	37	.	.	PUNCT
ajfa-82	112	1	in	in	ADP
ajfa-82	112	2	this	this	DET
ajfa-82	112	3	paper	paper	NOUN
ajfa-82	112	4	,	,	PUNCT
ajfa-82	112	5	we	we	PRON
ajfa-82	112	6	take	take	VERB
ajfa-82	112	7	some	some	DET
ajfa-82	112	8	small	small	ADJ
ajfa-82	112	9	steps	step	NOUN
ajfa-82	112	10	towards	towards	ADP
ajfa-82	112	11	a	a	DET
ajfa-82	112	12	more	more	ADV
ajfa-82	112	13	complete	complete	ADJ
ajfa-82	112	14	understanding	understanding	NOUN
ajfa-82	112	15	of	of	ADP
ajfa-82	112	16	microeconomic	microeconomic	ADJ
ajfa-82	112	17	characteristics	characteristic	NOUN
ajfa-82	112	18	of	of	ADP
ajfa-82	112	19	smsfs	smsfs	ADV
ajfa-82	112	20	by	by	ADP
ajfa-82	112	21	examining	examine	VERB
ajfa-82	112	22	the	the	DET
ajfa-82	112	23	relationship	relationship	NOUN
ajfa-82	112	24	between	between	ADP
ajfa-82	112	25	smsf	smsf	PROPN
ajfa-82	112	26	net	net	NOUN
ajfa-82	112	27	worth	worth	NOUN
ajfa-82	112	28	and	and	CCONJ
ajfa-82	112	29	allocations	allocation	NOUN
ajfa-82	112	30	to	to	ADP
ajfa-82	112	31	risky	risky	ADJ
ajfa-82	112	32	assets	asset	NOUN
ajfa-82	112	33	exhibited	exhibit	VERB
ajfa-82	112	34	by	by	ADP
ajfa-82	112	35	a	a	DET
ajfa-82	112	36	sample	sample	NOUN
ajfa-82	112	37	of	of	ADP
ajfa-82	112	38	australian	australian	ADJ
ajfa-82	112	39	smsf	smsf	PROPN
ajfa-82	112	40	trustees	trustee	NOUN
ajfa-82	112	41	.	.	PUNCT
ajfa-82	113	1	our	our	PRON
ajfa-82	113	2	objective	objective	NOUN
ajfa-82	113	3	is	be	AUX
ajfa-82	113	4	not	not	PART
ajfa-82	113	5	to	to	PART
ajfa-82	113	6	examine	examine	VERB
ajfa-82	113	7	risk	risk	NOUN
ajfa-82	113	8	aversion	aversion	NOUN
ajfa-82	113	9	but	but	CCONJ
ajfa-82	113	10	determine	determine	VERB
ajfa-82	113	11	whether	whether	SCONJ
ajfa-82	113	12	there	there	PRON
ajfa-82	113	13	is	be	VERB
ajfa-82	113	14	a	a	DET
ajfa-82	113	15	tendency	tendency	NOUN
ajfa-82	113	16	for	for	SCONJ
ajfa-82	113	17	larger	large	ADJ
ajfa-82	113	18	smsfs	smsfs	NOUN
ajfa-82	113	19	to	to	PART
ajfa-82	113	20	hold	hold	VERB
ajfa-82	113	21	a	a	DET
ajfa-82	113	22	greater	great	ADJ
ajfa-82	113	23	percentage	percentage	NOUN
ajfa-82	113	24	of	of	ADP
ajfa-82	113	25	risky	risky	ADJ
ajfa-82	113	26	assets	asset	NOUN
ajfa-82	113	27	than	than	ADP
ajfa-82	113	28	smaller	small	ADJ
ajfa-82	113	29	smsfs	smsfs	NOUN
ajfa-82	113	30	.	.	PUNCT
ajfa-82	114	1	the	the	DET
ajfa-82	114	2	data	datum	NOUN
ajfa-82	114	3	used	use	VERB
ajfa-82	114	4	in	in	ADP
ajfa-82	114	5	this	this	DET
ajfa-82	114	6	paper	paper	NOUN
ajfa-82	114	7	are	be	AUX
ajfa-82	114	8	discussed	discuss	VERB
ajfa-82	114	9	in	in	ADP
ajfa-82	114	10	the	the	DET
ajfa-82	114	11	next	next	ADJ
ajfa-82	114	12	section	section	NOUN
ajfa-82	114	13	.	.	PUNCT
ajfa-82	115	1	3	3	X
ajfa-82	115	2	.	.	X
ajfa-82	116	1	the	the	DET
ajfa-82	116	2	data	datum	NOUN
ajfa-82	116	3	in	in	ADP
ajfa-82	116	4	order	order	NOUN
ajfa-82	116	5	to	to	PART
ajfa-82	116	6	complement	complement	VERB
ajfa-82	116	7	the	the	DET
ajfa-82	116	8	existing	exist	VERB
ajfa-82	116	9	studies	study	NOUN
ajfa-82	116	10	and	and	CCONJ
ajfa-82	116	11	take	take	VERB
ajfa-82	116	12	some	some	DET
ajfa-82	116	13	steps	step	NOUN
ajfa-82	116	14	towards	towards	ADP
ajfa-82	116	15	a	a	DET
ajfa-82	116	16	more	more	ADV
ajfa-82	116	17	complete	complete	ADJ
ajfa-82	116	18	understanding	understanding	NOUN
ajfa-82	116	19	of	of	ADP
ajfa-82	116	20	self	self	NOUN
ajfa-82	116	21	managed	manage	VERB
ajfa-82	116	22	superannuation	superannuation	NOUN
ajfa-82	116	23	funds	fund	NOUN
ajfa-82	116	24	,	,	PUNCT
ajfa-82	116	25	some	some	DET
ajfa-82	116	26	unique	unique	ADJ
ajfa-82	116	27	and	and	CCONJ
ajfa-82	116	28	pure	pure	ADJ
ajfa-82	116	29	smsf	smsf	PROPN
ajfa-82	116	30	data	datum	NOUN
ajfa-82	116	31	was	be	AUX
ajfa-82	116	32	gathered	gather	VERB
ajfa-82	116	33	.	.	PUNCT
ajfa-82	117	1	the	the	DET
ajfa-82	117	2	data	datum	NOUN
ajfa-82	117	3	gathered	gather	VERB
ajfa-82	117	4	for	for	ADP
ajfa-82	117	5	this	this	DET
ajfa-82	117	6	investigation	investigation	NOUN
ajfa-82	117	7	consists	consist	VERB
ajfa-82	117	8	of	of	ADP
ajfa-82	117	9	two	two	NUM
ajfa-82	117	10	independent	independent	ADJ
ajfa-82	117	11	samples	sample	NOUN
ajfa-82	117	12	of	of	ADP
ajfa-82	117	13	smsf	smsf	PROPN
ajfa-82	117	14	portfolio	portfolio	NOUN
ajfa-82	117	15	microstructures	microstructure	NOUN
ajfa-82	117	16	.	.	PUNCT
ajfa-82	118	1	100	100	NUM
ajfa-82	118	2	of	of	ADP
ajfa-82	118	3	the	the	DET
ajfa-82	118	4	smsf	smsf	PROPN
ajfa-82	118	5	microstructures	microstructure	NOUN
ajfa-82	118	6	were	be	AUX
ajfa-82	118	7	obtained	obtain	VERB
ajfa-82	118	8	from	from	ADP
ajfa-82	118	9	a	a	DET
ajfa-82	118	10	large	large	ADJ
ajfa-82	118	11	financial	financial	ADJ
ajfa-82	118	12	planning	planning	NOUN
ajfa-82	118	13	and	and	CCONJ
ajfa-82	118	14	superannuation	superannuation	NOUN
ajfa-82	118	15	administration	administration	NOUN
ajfa-82	118	16	firm	firm	NOUN
ajfa-82	118	17	based	base	VERB
ajfa-82	118	18	in	in	ADP
ajfa-82	118	19	one	one	NUM
ajfa-82	118	20	of	of	ADP
ajfa-82	118	21	australia‟s	australia‟s	ADJ
ajfa-82	118	22	capital	capital	NOUN
ajfa-82	118	23	cities	city	NOUN
ajfa-82	118	24	.	.	PUNCT
ajfa-82	119	1	the	the	DET
ajfa-82	119	2	other	other	ADJ
ajfa-82	119	3	41	41	NUM
ajfa-82	119	4	smsf	smsf	PROPN
ajfa-82	119	5	microstructures	microstructure	NOUN
ajfa-82	119	6	were	be	AUX
ajfa-82	119	7	obtained	obtain	VERB
ajfa-82	119	8	from	from	ADP
ajfa-82	119	9	an	an	DET
ajfa-82	119	10	accounting	accounting	NOUN
ajfa-82	119	11	and	and	CCONJ
ajfa-82	119	12	financial	financial	ADJ
ajfa-82	119	13	services	service	NOUN
ajfa-82	119	14	firm	firm	NOUN
ajfa-82	119	15	based	base	VERB
ajfa-82	119	16	in	in	ADP
ajfa-82	119	17	one	one	NUM
ajfa-82	119	18	of	of	ADP
ajfa-82	119	19	australia‟s	australia‟s	X
ajfa-82	119	20	regional	regional	ADJ
ajfa-82	119	21	centres	centre	NOUN
ajfa-82	119	22	.	.	PUNCT
ajfa-82	120	1	the	the	DET
ajfa-82	120	2	100	100	NUM
ajfa-82	120	3	smsfs	smsfs	NOUN
ajfa-82	120	4	whose	whose	DET
ajfa-82	120	5	portfolio	portfolio	NOUN
ajfa-82	120	6	structures	structure	NOUN
ajfa-82	120	7	constitute	constitute	VERB
ajfa-82	120	8	the	the	DET
ajfa-82	120	9	first	first	ADJ
ajfa-82	120	10	part	part	NOUN
ajfa-82	120	11	of	of	ADP
ajfa-82	120	12	the	the	DET
ajfa-82	120	13	sample	sample	NOUN
ajfa-82	120	14	were	be	AUX
ajfa-82	120	15	drawn	draw	VERB
ajfa-82	120	16	more	more	ADV
ajfa-82	120	17	or	or	CCONJ
ajfa-82	120	18	less	less	ADJ
ajfa-82	120	19	at	at	ADP
ajfa-82	120	20	random	random	ADJ
ajfa-82	120	21	from	from	ADP
ajfa-82	120	22	the	the	DET
ajfa-82	120	23	total	total	ADJ
ajfa-82	120	24	number	number	NOUN
ajfa-82	120	25	of	of	ADP
ajfa-82	120	26	smsfs	smsfs	ADV
ajfa-82	120	27	administered	administer	VERB
ajfa-82	120	28	by	by	ADP
ajfa-82	120	29	the	the	DET
ajfa-82	120	30	financial	financial	ADJ
ajfa-82	120	31	planning	planning	NOUN
ajfa-82	120	32	and	and	CCONJ
ajfa-82	120	33	superannuation	superannuation	NOUN
ajfa-82	120	34	administration	administration	NOUN
ajfa-82	120	35	firm	firm	NOUN
ajfa-82	120	36	.	.	PUNCT
ajfa-82	121	1	the	the	DET
ajfa-82	121	2	other	other	ADJ
ajfa-82	121	3	41	41	NUM
ajfa-82	121	4	smsfs	smsfs	ADV
ajfa-82	121	5	represent	represent	VERB
ajfa-82	121	6	a	a	DET
ajfa-82	121	7	complete	complete	ADJ
ajfa-82	121	8	sub	sub	NOUN
ajfa-82	121	9	-	-	NOUN
ajfa-82	121	10	population	population	NOUN
ajfa-82	121	11	of	of	ADP
ajfa-82	121	12	just	just	ADV
ajfa-82	121	13	over	over	ADP
ajfa-82	121	14	100	100	NUM
ajfa-82	121	15	smsfs	smsfs	ADV
ajfa-82	121	16	overseen	oversee	VERB
ajfa-82	121	17	by	by	ADP
ajfa-82	121	18	the	the	DET
ajfa-82	121	19	accounting	accounting	NOUN
ajfa-82	121	20	and	and	CCONJ
ajfa-82	121	21	financial	financial	ADJ
ajfa-82	121	22	services	service	NOUN
ajfa-82	121	23	firm	firm	NOUN
ajfa-82	121	24	.	.	PUNCT
ajfa-82	122	1	these	these	DET
ajfa-82	122	2	41	41	NUM
ajfa-82	122	3	smsfs	smsfs	NOUN
ajfa-82	122	4	are	be	AUX
ajfa-82	122	5	those	those	DET
ajfa-82	122	6	funds	fund	NOUN
ajfa-82	122	7	overseen	oversee	VERB
ajfa-82	122	8	by	by	ADP
ajfa-82	122	9	the	the	DET
ajfa-82	122	10	accounting	accounting	NOUN
ajfa-82	122	11	and	and	CCONJ
ajfa-82	122	12	financial	financial	ADJ
ajfa-82	122	13	service	service	NOUN
ajfa-82	122	14	firm	firm	NOUN
ajfa-82	122	15	that	that	PRON
ajfa-82	122	16	contain	contain	VERB
ajfa-82	122	17	a	a	DET
ajfa-82	122	18	mixture	mixture	NOUN
ajfa-82	122	19	of	of	ADP
ajfa-82	122	20	assets	asset	NOUN
ajfa-82	122	21	directly	directly	ADV
ajfa-82	122	22	managed	manage	VERB
ajfa-82	122	23	by	by	ADP
ajfa-82	122	24	the	the	DET
ajfa-82	122	25	trustees	trustee	NOUN
ajfa-82	122	26	and	and	CCONJ
ajfa-82	122	27	are	be	AUX
ajfa-82	122	28	not	not	PART
ajfa-82	122	29	„	„	PUNCT
ajfa-82	122	30	shells‟	shells‟	PRON
ajfa-82	122	31	established	establish	VERB
ajfa-82	122	32	merely	merely	ADV
ajfa-82	122	33	to	to	PART
ajfa-82	122	34	hold	hold	VERB
ajfa-82	122	35	particular	particular	ADJ
ajfa-82	122	36	assets	asset	NOUN
ajfa-82	122	37	such	such	ADJ
ajfa-82	122	38	as	as	ADP
ajfa-82	122	39	commercial	commercial	ADJ
ajfa-82	122	40	property	property	NOUN
ajfa-82	122	41	.	.	PUNCT
ajfa-82	123	1	the	the	DET
ajfa-82	123	2	data	datum	NOUN
ajfa-82	123	3	contained	contain	VERB
ajfa-82	123	4	in	in	ADP
ajfa-82	123	5	this	this	DET
ajfa-82	123	6	sample	sample	NOUN
ajfa-82	123	7	has	have	VERB
ajfa-82	123	8	several	several	ADJ
ajfa-82	123	9	desirable	desirable	ADJ
ajfa-82	123	10	properties	property	NOUN
ajfa-82	123	11	:	:	PUNCT
ajfa-82	123	12	(	(	PUNCT
ajfa-82	123	13	1	1	X
ajfa-82	123	14	)	)	PUNCT
ajfa-82	123	15	a	a	DET
ajfa-82	123	16	self	self	NOUN
ajfa-82	123	17	managed	manage	VERB
ajfa-82	123	18	superannuation	superannuation	NOUN
ajfa-82	123	19	fund	fund	NOUN
ajfa-82	123	20	can	can	AUX
ajfa-82	123	21	not	not	PART
ajfa-82	123	22	have	have	AUX
ajfa-82	123	23	liabilities	liability	NOUN
ajfa-82	123	24	(	(	PUNCT
ajfa-82	123	25	except	except	SCONJ
ajfa-82	123	26	under	under	ADP
ajfa-82	123	27	some	some	DET
ajfa-82	123	28	very	very	ADV
ajfa-82	123	29	limited	limited	ADJ
ajfa-82	123	30	conditions	condition	NOUN
ajfa-82	123	31	)	)	PUNCT
ajfa-82	123	32	.	.	PUNCT
ajfa-82	124	1	hence	hence	ADV
ajfa-82	124	2	,	,	PUNCT
ajfa-82	124	3	the	the	DET
ajfa-82	124	4	net	net	ADJ
ajfa-82	124	5	worth	worth	NOUN
ajfa-82	124	6	of	of	ADP
ajfa-82	124	7	the	the	DET
ajfa-82	124	8	smsf	smsf	NOUN
ajfa-82	124	9	is	be	AUX
ajfa-82	124	10	unambiguous	unambiguous	ADJ
ajfa-82	124	11	and	and	CCONJ
ajfa-82	124	12	we	we	PRON
ajfa-82	124	13	do	do	AUX
ajfa-82	124	14	not	not	PART
ajfa-82	124	15	need	need	VERB
ajfa-82	124	16	to	to	PART
ajfa-82	124	17	consider	consider	VERB
ajfa-82	124	18	the	the	DET
ajfa-82	124	19	effects	effect	NOUN
ajfa-82	124	20	of	of	ADP
ajfa-82	124	21	leverage	leverage	NOUN
ajfa-82	124	22	on	on	ADP
ajfa-82	124	23	the	the	DET
ajfa-82	124	24	portfolio	portfolio	NOUN
ajfa-82	124	25	returns	return	NOUN
ajfa-82	124	26	.	.	PUNCT
ajfa-82	125	1	essentially	essentially	ADV
ajfa-82	125	2	,	,	PUNCT
ajfa-82	125	3	the	the	DET
ajfa-82	125	4	net	net	ADJ
ajfa-82	125	5	worth	worth	NOUN
ajfa-82	125	6	of	of	ADP
ajfa-82	125	7	the	the	DET
ajfa-82	125	8	fund	fund	NOUN
ajfa-82	125	9	is	be	AUX
ajfa-82	125	10	equal	equal	ADJ
ajfa-82	125	11	to	to	ADP
ajfa-82	125	12	the	the	DET
ajfa-82	125	13	size	size	NOUN
ajfa-82	125	14	of	of	ADP
ajfa-82	125	15	the	the	DET
ajfa-82	125	16	fund‟s	fund‟s	ADJ
ajfa-82	125	17	portfolio	portfolio	NOUN
ajfa-82	125	18	;	;	PUNCT
ajfa-82	125	19	(	(	PUNCT
ajfa-82	125	20	2	2	X
ajfa-82	125	21	)	)	PUNCT
ajfa-82	125	22	because	because	SCONJ
ajfa-82	125	23	the	the	DET
ajfa-82	125	24	smsfs	smsfs	NOUN
ajfa-82	125	25	in	in	ADP
ajfa-82	125	26	this	this	DET
ajfa-82	125	27	sample	sample	NOUN
ajfa-82	125	28	have	have	AUX
ajfa-82	125	29	been	be	AUX
ajfa-82	125	30	subjected	subject	VERB
ajfa-82	125	31	to	to	ADP
ajfa-82	125	32	annual	annual	ADJ
ajfa-82	125	33	audits	audits	NOUN
ajfa-82	125	34	,	,	PUNCT
ajfa-82	125	35	the	the	DET
ajfa-82	125	36	data	datum	NOUN
ajfa-82	125	37	should	should	AUX
ajfa-82	125	38	exhibit	exhibit	VERB
ajfa-82	125	39	a	a	DET
ajfa-82	125	40	high	high	ADJ
ajfa-82	125	41	degree	degree	NOUN
ajfa-82	125	42	of	of	ADP
ajfa-82	125	43	accuracy	accuracy	NOUN
ajfa-82	125	44	;	;	PUNCT
ajfa-82	125	45	(	(	PUNCT
ajfa-82	125	46	3	3	X
ajfa-82	125	47	)	)	PUNCT
ajfa-82	125	48	the	the	DET
ajfa-82	125	49	data	data	NOUN
ajfa-82	125	50	is	be	AUX
ajfa-82	125	51	self	self	NOUN
ajfa-82	125	52	-	-	PUNCT
ajfa-82	125	53	contained	contain	VERB
ajfa-82	125	54	and	and	CCONJ
ajfa-82	125	55	there	there	PRON
ajfa-82	125	56	is	be	VERB
ajfa-82	125	57	no	no	DET
ajfa-82	125	58	need	need	NOUN
ajfa-82	125	59	to	to	PART
ajfa-82	125	60	rely	rely	VERB
ajfa-82	125	61	on	on	ADP
ajfa-82	125	62	surveys	survey	NOUN
ajfa-82	125	63	or	or	CCONJ
ajfa-82	125	64	questionnaires	questionnaire	NOUN
ajfa-82	125	65	of	of	ADP
ajfa-82	125	66	investors	investor	NOUN
ajfa-82	125	67	;	;	PUNCT
ajfa-82	125	68	and	and	CCONJ
ajfa-82	125	69	(	(	PUNCT
ajfa-82	125	70	4	4	X
ajfa-82	125	71	)	)	PUNCT
ajfa-82	125	72	unlike	unlike	ADP
ajfa-82	125	73	household	household	NOUN
ajfa-82	125	74	balance	balance	NOUN
ajfa-82	125	75	sheet	sheet	NOUN
ajfa-82	125	76	studies	study	NOUN
ajfa-82	125	77	or	or	CCONJ
ajfa-82	125	78	investigations	investigation	NOUN
ajfa-82	125	79	into	into	ADP
ajfa-82	125	80	the	the	DET
ajfa-82	125	81	demand	demand	NOUN
ajfa-82	125	82	for	for	ADP
ajfa-82	125	83	risky	risky	ADJ
ajfa-82	125	84	assets	asset	NOUN
ajfa-82	125	85	,	,	PUNCT
ajfa-82	125	86	the	the	DET
ajfa-82	125	87	smsf	smsf	PROPN
ajfa-82	125	88	data	datum	NOUN
ajfa-82	125	89	is	be	AUX
ajfa-82	125	90	isolated	isolate	VERB
ajfa-82	125	91	from	from	ADP
ajfa-82	125	92	and	and	CCONJ
ajfa-82	125	93	uncomplicated	uncomplicated	ADJ
ajfa-82	125	94	by	by	ADP
ajfa-82	125	95	insurance	insurance	NOUN
ajfa-82	125	96	issues	issue	NOUN
ajfa-82	125	97	.	.	PUNCT
ajfa-82	126	1	simply	simply	ADV
ajfa-82	126	2	,	,	PUNCT
ajfa-82	126	3	the	the	DET
ajfa-82	126	4	limitations	limitation	NOUN
ajfa-82	126	5	of	of	ADP
ajfa-82	126	6	survey	survey	NOUN
ajfa-82	126	7	-	-	PUNCT
ajfa-82	126	8	based	base	VERB
ajfa-82	126	9	data	datum	NOUN
ajfa-82	126	10	such	such	ADJ
ajfa-82	126	11	as	as	ADP
ajfa-82	126	12	that	that	PRON
ajfa-82	126	13	analysed	analyse	VERB
ajfa-82	126	14	by	by	ADP
ajfa-82	126	15	friend	friend	NOUN
ajfa-82	126	16	and	and	CCONJ
ajfa-82	126	17	blume	blume	PROPN
ajfa-82	126	18	(	(	PUNCT
ajfa-82	126	19	1975	1975	NUM
ajfa-82	126	20	)	)	PUNCT
ajfa-82	126	21	3	3	NUM
ajfa-82	126	22	in	in	ADP
ajfa-82	126	23	their	their	PRON
ajfa-82	126	24	analysis	analysis	NOUN
ajfa-82	126	25	of	of	ADP
ajfa-82	126	26	the	the	DET
ajfa-82	126	27	demand	demand	NOUN
ajfa-82	126	28	for	for	ADP
ajfa-82	126	29	risky	risky	ADJ
ajfa-82	126	30	assets	asset	NOUN
ajfa-82	126	31	and	and	CCONJ
ajfa-82	126	32	the	the	DET
ajfa-82	126	33	risk	risk	NOUN
ajfa-82	126	34	aversion	aversion	NOUN
ajfa-82	126	35	of	of	ADP
ajfa-82	126	36	american	american	ADJ
ajfa-82	126	37	households	household	NOUN
ajfa-82	126	38	are	be	AUX
ajfa-82	126	39	mitigated	mitigate	VERB
ajfa-82	126	40	quite	quite	ADV
ajfa-82	126	41	substantially	substantially	ADV
ajfa-82	126	42	.	.	PUNCT
ajfa-82	127	1	there	there	PRON
ajfa-82	127	2	is	be	VERB
ajfa-82	127	3	nothing	nothing	PRON
ajfa-82	127	4	unique	unique	ADJ
ajfa-82	127	5	or	or	CCONJ
ajfa-82	127	6	special	special	ADJ
ajfa-82	127	7	about	about	ADP
ajfa-82	127	8	the	the	DET
ajfa-82	127	9	smsfs	smsfs	NOUN
ajfa-82	127	10	in	in	ADP
ajfa-82	127	11	the	the	DET
ajfa-82	127	12	sample	sample	NOUN
ajfa-82	127	13	that	that	PRON
ajfa-82	127	14	would	would	AUX
ajfa-82	127	15	lead	lead	VERB
ajfa-82	127	16	to	to	ADP
ajfa-82	127	17	a	a	DET
ajfa-82	127	18	conclusion	conclusion	NOUN
ajfa-82	127	19	that	that	SCONJ
ajfa-82	127	20	the	the	DET
ajfa-82	127	21	smsfs	smsfs	NOUN
ajfa-82	127	22	are	be	AUX
ajfa-82	127	23	not	not	PART
ajfa-82	127	24	representative	representative	ADJ
ajfa-82	127	25	of	of	ADP
ajfa-82	127	26	the	the	DET
ajfa-82	127	27	broader	broad	ADJ
ajfa-82	127	28	population	population	NOUN
ajfa-82	127	29	of	of	ADP
ajfa-82	127	30	self	self	NOUN
ajfa-82	127	31	managed	manage	VERB
ajfa-82	127	32	3	3	NUM
ajfa-82	127	33	also	also	ADV
ajfa-82	127	34	see	see	VERB
ajfa-82	127	35	blume	blume	PROPN
ajfa-82	127	36	and	and	CCONJ
ajfa-82	127	37	friend	friend	NOUN
ajfa-82	127	38	(	(	PUNCT
ajfa-82	127	39	1975	1975	NUM
ajfa-82	127	40	)	)	PUNCT
ajfa-82	127	41	.	.	PUNCT
ajfa-82	128	1	asian	asian	ADJ
ajfa-82	128	2	journal	journal	PROPN
ajfa-82	128	3	of	of	ADP
ajfa-82	128	4	finance	finance	PROPN
ajfa-82	128	5	&	&	CCONJ
ajfa-82	128	6	accounting	accounting	PROPN
ajfa-82	128	7	issn	issn	PROPN
ajfa-82	128	8	1946	1946	NUM
ajfa-82	128	9	-	-	PUNCT
ajfa-82	128	10	052x	052x	NOUN
ajfa-82	128	11	2009	2009	NUM
ajfa-82	128	12	,	,	PUNCT
ajfa-82	128	13	vol	vol	NOUN
ajfa-82	128	14	.	.	PROPN
ajfa-82	128	15	1	1	NUM
ajfa-82	128	16	,	,	PUNCT
ajfa-82	128	17	no	no	INTJ
ajfa-82	128	18	.	.	NOUN
ajfa-82	128	19	1	1	NUM
ajfa-82	128	20	:	:	PUNCT
ajfa-82	128	21	e1	e1	VERB
ajfa-82	128	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	128	23	61	61	NUM
ajfa-82	128	24	superannuation	superannuation	NOUN
ajfa-82	128	25	funds	fund	NOUN
ajfa-82	128	26	in	in	ADP
ajfa-82	128	27	australia	australia	PROPN
ajfa-82	128	28	.	.	PUNCT
ajfa-82	129	1	given	give	VERB
ajfa-82	129	2	the	the	DET
ajfa-82	129	3	difficulty	difficulty	NOUN
ajfa-82	129	4	in	in	ADP
ajfa-82	129	5	obtaining	obtain	VERB
ajfa-82	129	6	smsf	smsf	PROPN
ajfa-82	129	7	data	data	PROPN
ajfa-82	129	8	,	,	PUNCT
ajfa-82	129	9	the	the	DET
ajfa-82	129	10	sample	sample	NOUN
ajfa-82	129	11	is	be	AUX
ajfa-82	129	12	quite	quite	ADV
ajfa-82	129	13	significant	significant	ADJ
ajfa-82	129	14	and	and	CCONJ
ajfa-82	129	15	exceeds	exceed	NOUN
ajfa-82	129	16	by	by	ADP
ajfa-82	129	17	three	three	NUM
ajfa-82	129	18	-	-	PUNCT
ajfa-82	129	19	to	to	ADP
ajfa-82	129	20	-	-	PUNCT
ajfa-82	129	21	one	one	NUM
ajfa-82	129	22	the	the	DET
ajfa-82	129	23	sample	sample	NOUN
ajfa-82	129	24	of	of	ADP
ajfa-82	129	25	smsfs	smsfs	PROPN
ajfa-82	129	26	gathered	gather	VERB
ajfa-82	129	27	by	by	ADP
ajfa-82	129	28	phillips	phillips	PROPN
ajfa-82	129	29	,	,	PUNCT
ajfa-82	129	30	cathcart	cathcart	PROPN
ajfa-82	129	31	and	and	CCONJ
ajfa-82	129	32	teale	teale	PROPN
ajfa-82	129	33	(	(	PUNCT
ajfa-82	129	34	2007	2007	NUM
ajfa-82	129	35	)	)	PUNCT
ajfa-82	129	36	.	.	PUNCT
ajfa-82	130	1	furthermore	furthermore	ADV
ajfa-82	130	2	,	,	PUNCT
ajfa-82	130	3	the	the	DET
ajfa-82	130	4	fact	fact	NOUN
ajfa-82	130	5	that	that	SCONJ
ajfa-82	130	6	the	the	DET
ajfa-82	130	7	overall	overall	ADJ
ajfa-82	130	8	sample	sample	NOUN
ajfa-82	130	9	consists	consist	VERB
ajfa-82	130	10	of	of	ADP
ajfa-82	130	11	two	two	NUM
ajfa-82	130	12	independent	independent	ADJ
ajfa-82	130	13	samples	sample	NOUN
ajfa-82	130	14	of	of	ADP
ajfa-82	130	15	portfolios	portfolio	NOUN
ajfa-82	130	16	from	from	ADP
ajfa-82	130	17	independent	independent	ADJ
ajfa-82	130	18	sources	source	NOUN
ajfa-82	130	19	and	and	CCONJ
ajfa-82	130	20	geographical	geographical	ADJ
ajfa-82	130	21	locations	location	NOUN
ajfa-82	130	22	adds	add	VERB
ajfa-82	130	23	a	a	DET
ajfa-82	130	24	large	large	ADJ
ajfa-82	130	25	degree	degree	NOUN
ajfa-82	130	26	of	of	ADP
ajfa-82	130	27	substance	substance	NOUN
ajfa-82	130	28	to	to	ADP
ajfa-82	130	29	the	the	DET
ajfa-82	130	30	investigation	investigation	NOUN
ajfa-82	130	31	.	.	PUNCT
ajfa-82	131	1	essentially	essentially	ADV
ajfa-82	131	2	,	,	PUNCT
ajfa-82	131	3	concerns	concern	NOUN
ajfa-82	131	4	that	that	PRON
ajfa-82	131	5	may	may	AUX
ajfa-82	131	6	be	be	AUX
ajfa-82	131	7	held	hold	VERB
ajfa-82	131	8	about	about	ADP
ajfa-82	131	9	the	the	DET
ajfa-82	131	10	idiosyncrasies	idiosyncrasy	NOUN
ajfa-82	131	11	of	of	ADP
ajfa-82	131	12	any	any	DET
ajfa-82	131	13	particular	particular	ADJ
ajfa-82	131	14	individual	individual	ADJ
ajfa-82	131	15	sample	sample	NOUN
ajfa-82	131	16	of	of	ADP
ajfa-82	131	17	smsfs	smsfs	PROPN
ajfa-82	131	18	are	be	AUX
ajfa-82	131	19	eased	ease	VERB
ajfa-82	131	20	.	.	PUNCT
ajfa-82	132	1	it	it	PRON
ajfa-82	132	2	should	should	AUX
ajfa-82	132	3	also	also	ADV
ajfa-82	132	4	be	be	AUX
ajfa-82	132	5	noted	note	VERB
ajfa-82	132	6	that	that	SCONJ
ajfa-82	132	7	the	the	DET
ajfa-82	132	8	100	100	NUM
ajfa-82	132	9	smsfs	smsfs	NOUN
ajfa-82	132	10	that	that	PRON
ajfa-82	132	11	constitute	constitute	VERB
ajfa-82	132	12	the	the	DET
ajfa-82	132	13	first	first	ADJ
ajfa-82	132	14	part	part	NOUN
ajfa-82	132	15	of	of	ADP
ajfa-82	132	16	the	the	DET
ajfa-82	132	17	sample	sample	NOUN
ajfa-82	132	18	have	have	AUX
ajfa-82	132	19	benefited	benefit	VERB
ajfa-82	132	20	from	from	ADP
ajfa-82	132	21	professional	professional	ADJ
ajfa-82	132	22	administration	administration	NOUN
ajfa-82	132	23	whilst	whilst	SCONJ
ajfa-82	132	24	the	the	DET
ajfa-82	132	25	41	41	NUM
ajfa-82	132	26	smsfs	smsfs	NOUN
ajfa-82	132	27	that	that	PRON
ajfa-82	132	28	constitute	constitute	VERB
ajfa-82	132	29	the	the	DET
ajfa-82	132	30	second	second	ADJ
ajfa-82	132	31	part	part	NOUN
ajfa-82	132	32	of	of	ADP
ajfa-82	132	33	the	the	DET
ajfa-82	132	34	sample	sample	NOUN
ajfa-82	132	35	have	have	VERB
ajfa-82	132	36	not	not	PART
ajfa-82	132	37	.	.	PUNCT
ajfa-82	133	1	although	although	SCONJ
ajfa-82	133	2	both	both	DET
ajfa-82	133	3	samples‟	samples‟	PRON
ajfa-82	133	4	trustees	trustee	NOUN
ajfa-82	133	5	may	may	AUX
ajfa-82	133	6	have	have	AUX
ajfa-82	133	7	benefited	benefit	VERB
ajfa-82	133	8	from	from	ADP
ajfa-82	133	9	advice	advice	NOUN
ajfa-82	133	10	in	in	ADP
ajfa-82	133	11	choosing	choose	VERB
ajfa-82	133	12	investments	investment	NOUN
ajfa-82	133	13	(	(	PUNCT
ajfa-82	133	14	as	as	SCONJ
ajfa-82	133	15	clients	client	NOUN
ajfa-82	133	16	do	do	VERB
ajfa-82	133	17	for	for	ADP
ajfa-82	133	18	example	example	NOUN
ajfa-82	133	19	upon	upon	SCONJ
ajfa-82	133	20	calling	call	VERB
ajfa-82	133	21	a	a	DET
ajfa-82	133	22	stock	stock	NOUN
ajfa-82	133	23	broker	broker	NOUN
ajfa-82	133	24	)	)	PUNCT
ajfa-82	133	25	,	,	PUNCT
ajfa-82	133	26	the	the	DET
ajfa-82	133	27	trustees	trustee	NOUN
ajfa-82	133	28	remain	remain	VERB
ajfa-82	133	29	responsible	responsible	ADJ
ajfa-82	133	30	for	for	ADP
ajfa-82	133	31	their	their	PRON
ajfa-82	133	32	self	self	NOUN
ajfa-82	133	33	managed	manage	VERB
ajfa-82	133	34	superannuation	superannuation	NOUN
ajfa-82	133	35	fund	fund	NOUN
ajfa-82	133	36	.	.	PUNCT
ajfa-82	134	1	all	all	PRON
ajfa-82	134	2	of	of	ADP
ajfa-82	134	3	the	the	DET
ajfa-82	134	4	smsf	smsf	PROPN
ajfa-82	134	5	portfolios	portfolio	NOUN
ajfa-82	134	6	contained	contain	VERB
ajfa-82	134	7	in	in	ADP
ajfa-82	134	8	the	the	DET
ajfa-82	134	9	sample	sample	NOUN
ajfa-82	134	10	are	be	AUX
ajfa-82	134	11	reasonably	reasonably	ADV
ajfa-82	134	12	large	large	ADJ
ajfa-82	134	13	portfolios	portfolio	NOUN
ajfa-82	134	14	containing	contain	VERB
ajfa-82	134	15	an	an	DET
ajfa-82	134	16	asset	asset	NOUN
ajfa-82	134	17	mix	mix	NOUN
ajfa-82	134	18	of	of	ADP
ajfa-82	134	19	cash	cash	NOUN
ajfa-82	134	20	,	,	PUNCT
ajfa-82	134	21	fixed	fix	VERB
ajfa-82	134	22	interest	interest	NOUN
ajfa-82	134	23	securities	security	NOUN
ajfa-82	134	24	,	,	PUNCT
ajfa-82	134	25	managed	manage	VERB
ajfa-82	134	26	funds	fund	NOUN
ajfa-82	134	27	and	and	CCONJ
ajfa-82	134	28	domestic	domestic	ADJ
ajfa-82	134	29	and	and	CCONJ
ajfa-82	134	30	overseas	overseas	ADJ
ajfa-82	134	31	shares	share	NOUN
ajfa-82	134	32	.	.	PUNCT
ajfa-82	135	1	some	some	PRON
ajfa-82	135	2	of	of	ADP
ajfa-82	135	3	the	the	DET
ajfa-82	135	4	funds	fund	NOUN
ajfa-82	135	5	contain	contain	VERB
ajfa-82	135	6	real	real	ADJ
ajfa-82	135	7	assets	asset	NOUN
ajfa-82	135	8	such	such	ADJ
ajfa-82	135	9	as	as	ADP
ajfa-82	135	10	real	real	ADJ
ajfa-82	135	11	estate	estate	NOUN
ajfa-82	135	12	.	.	PUNCT
ajfa-82	136	1	bearing	bear	VERB
ajfa-82	136	2	in	in	ADP
ajfa-82	136	3	mind	mind	NOUN
ajfa-82	136	4	that	that	SCONJ
ajfa-82	136	5	each	each	DET
ajfa-82	136	6	smsf	smsf	NOUN
ajfa-82	136	7	represents	represent	VERB
ajfa-82	136	8	the	the	DET
ajfa-82	136	9	retirement	retirement	NOUN
ajfa-82	136	10	savings	saving	NOUN
ajfa-82	136	11	of	of	ADP
ajfa-82	136	12	a	a	DET
ajfa-82	136	13	small	small	ADJ
ajfa-82	136	14	group	group	NOUN
ajfa-82	136	15	of	of	ADP
ajfa-82	136	16	people	people	NOUN
ajfa-82	136	17	up	up	ADP
ajfa-82	136	18	to	to	ADP
ajfa-82	136	19	a	a	DET
ajfa-82	136	20	maximum	maximum	NOUN
ajfa-82	136	21	of	of	ADP
ajfa-82	136	22	five	five	NUM
ajfa-82	136	23	members	member	NOUN
ajfa-82	136	24	,	,	PUNCT
ajfa-82	136	25	the	the	DET
ajfa-82	136	26	portfolios	portfolio	NOUN
ajfa-82	136	27	are	be	AUX
ajfa-82	136	28	quite	quite	ADV
ajfa-82	136	29	large	large	ADJ
ajfa-82	136	30	.	.	PUNCT
ajfa-82	137	1	the	the	DET
ajfa-82	137	2	average	average	ADJ
ajfa-82	137	3	size	size	NOUN
ajfa-82	137	4	of	of	ADP
ajfa-82	137	5	each	each	PRON
ajfa-82	137	6	of	of	ADP
ajfa-82	137	7	the	the	DET
ajfa-82	137	8	100	100	NUM
ajfa-82	137	9	portfolios	portfolio	NOUN
ajfa-82	137	10	in	in	ADP
ajfa-82	137	11	the	the	DET
ajfa-82	137	12	first	first	ADJ
ajfa-82	137	13	part	part	NOUN
ajfa-82	137	14	of	of	ADP
ajfa-82	137	15	the	the	DET
ajfa-82	137	16	sample	sample	NOUN
ajfa-82	137	17	was	be	AUX
ajfa-82	137	18	$	$	SYM
ajfa-82	137	19	796611	796611	NUM
ajfa-82	137	20	at	at	ADP
ajfa-82	137	21	june	june	PROPN
ajfa-82	137	22	30	30	NUM
ajfa-82	137	23	2007	2007	NUM
ajfa-82	137	24	.	.	PUNCT
ajfa-82	138	1	the	the	DET
ajfa-82	138	2	largest	large	ADJ
ajfa-82	138	3	portfolios	portfolio	NOUN
ajfa-82	138	4	have	have	VERB
ajfa-82	138	5	a	a	DET
ajfa-82	138	6	value	value	NOUN
ajfa-82	138	7	of	of	ADP
ajfa-82	138	8	just	just	ADV
ajfa-82	138	9	over	over	ADP
ajfa-82	138	10	$	$	SYM
ajfa-82	138	11	4	4	NUM
ajfa-82	138	12	million	million	NUM
ajfa-82	138	13	whilst	whilst	SCONJ
ajfa-82	138	14	the	the	DET
ajfa-82	138	15	smallest	small	ADJ
ajfa-82	138	16	portfolios	portfolio	NOUN
ajfa-82	138	17	have	have	VERB
ajfa-82	138	18	a	a	DET
ajfa-82	138	19	value	value	NOUN
ajfa-82	138	20	of	of	ADP
ajfa-82	138	21	just	just	ADV
ajfa-82	138	22	under	under	ADP
ajfa-82	138	23	$	$	SYM
ajfa-82	138	24	200	200	NUM
ajfa-82	138	25	000	000	NUM
ajfa-82	138	26	.	.	PUNCT
ajfa-82	139	1	most	most	ADJ
ajfa-82	139	2	of	of	ADP
ajfa-82	139	3	the	the	DET
ajfa-82	139	4	smsfs	smsfs	PROPN
ajfa-82	139	5	were	be	AUX
ajfa-82	139	6	formed	form	VERB
ajfa-82	139	7	sometime	sometime	ADV
ajfa-82	139	8	over	over	ADP
ajfa-82	139	9	the	the	DET
ajfa-82	139	10	last	last	ADJ
ajfa-82	139	11	five	five	NUM
ajfa-82	139	12	to	to	PART
ajfa-82	139	13	fifteen	fifteen	NUM
ajfa-82	139	14	years	year	NOUN
ajfa-82	139	15	but	but	CCONJ
ajfa-82	139	16	a	a	DET
ajfa-82	139	17	few	few	ADJ
ajfa-82	139	18	of	of	ADP
ajfa-82	139	19	the	the	DET
ajfa-82	139	20	funds	fund	NOUN
ajfa-82	139	21	were	be	AUX
ajfa-82	139	22	initiated	initiate	VERB
ajfa-82	139	23	more	more	ADJ
ajfa-82	139	24	than	than	ADP
ajfa-82	139	25	twenty	twenty	NUM
ajfa-82	139	26	years	year	NOUN
ajfa-82	139	27	ago	ago	ADV
ajfa-82	139	28	.	.	PUNCT
ajfa-82	140	1	the	the	DET
ajfa-82	140	2	average	average	ADJ
ajfa-82	140	3	size	size	NOUN
ajfa-82	140	4	of	of	ADP
ajfa-82	140	5	the	the	DET
ajfa-82	140	6	41	41	NUM
ajfa-82	140	7	portfolios	portfolio	NOUN
ajfa-82	140	8	in	in	ADP
ajfa-82	140	9	the	the	DET
ajfa-82	140	10	second	second	ADJ
ajfa-82	140	11	part	part	NOUN
ajfa-82	140	12	of	of	ADP
ajfa-82	140	13	the	the	DET
ajfa-82	140	14	sample	sample	NOUN
ajfa-82	140	15	was	be	AUX
ajfa-82	140	16	approximately	approximately	ADV
ajfa-82	140	17	$	$	SYM
ajfa-82	140	18	400	400	NUM
ajfa-82	140	19	000	000	NUM
ajfa-82	140	20	at	at	ADP
ajfa-82	140	21	june	june	PROPN
ajfa-82	140	22	30	30	NUM
ajfa-82	140	23	2004	2004	NUM
ajfa-82	140	24	.	.	PUNCT
ajfa-82	141	1	most	most	ADJ
ajfa-82	141	2	of	of	ADP
ajfa-82	141	3	the	the	DET
ajfa-82	141	4	smsfs	smsfs	PROPN
ajfa-82	141	5	were	be	AUX
ajfa-82	141	6	formed	form	VERB
ajfa-82	141	7	sometime	sometime	ADV
ajfa-82	141	8	over	over	ADP
ajfa-82	141	9	the	the	DET
ajfa-82	141	10	last	last	ADJ
ajfa-82	141	11	ten	ten	NUM
ajfa-82	141	12	years	year	NOUN
ajfa-82	141	13	.	.	PUNCT
ajfa-82	142	1	taken	take	VERB
ajfa-82	142	2	together	together	ADV
ajfa-82	142	3	,	,	PUNCT
ajfa-82	142	4	the	the	DET
ajfa-82	142	5	data	datum	NOUN
ajfa-82	142	6	available	available	ADJ
ajfa-82	142	7	for	for	ADP
ajfa-82	142	8	this	this	DET
ajfa-82	142	9	investigation	investigation	NOUN
ajfa-82	142	10	consists	consist	VERB
ajfa-82	142	11	of	of	ADP
ajfa-82	142	12	141	141	NUM
ajfa-82	142	13	smsfs	smsfs	NOUN
ajfa-82	142	14	with	with	ADP
ajfa-82	142	15	an	an	DET
ajfa-82	142	16	average	average	ADJ
ajfa-82	142	17	size	size	NOUN
ajfa-82	142	18	of	of	ADP
ajfa-82	142	19	approximately	approximately	ADV
ajfa-82	142	20	a	a	DET
ajfa-82	142	21	half	half	ADJ
ajfa-82	142	22	-	-	PUNCT
ajfa-82	142	23	million	million	NUM
ajfa-82	142	24	dollars	dollar	NOUN
ajfa-82	142	25	.	.	PUNCT
ajfa-82	143	1	this	this	PRON
ajfa-82	143	2	is	be	AUX
ajfa-82	143	3	a	a	DET
ajfa-82	143	4	substantial	substantial	ADJ
ajfa-82	143	5	sample	sample	NOUN
ajfa-82	143	6	in	in	ADP
ajfa-82	143	7	the	the	DET
ajfa-82	143	8	context	context	NOUN
ajfa-82	143	9	of	of	ADP
ajfa-82	143	10	smsf	smsf	PROPN
ajfa-82	143	11	research	research	NOUN
ajfa-82	143	12	.	.	PUNCT
ajfa-82	144	1	the	the	DET
ajfa-82	144	2	samples	sample	NOUN
ajfa-82	144	3	are	be	AUX
ajfa-82	144	4	summarised	summarise	VERB
ajfa-82	144	5	in	in	ADP
ajfa-82	144	6	table	table	NOUN
ajfa-82	144	7	1	1	NUM
ajfa-82	144	8	below	below	ADV
ajfa-82	144	9	.	.	PUNCT
ajfa-82	145	1	table	table	NOUN
ajfa-82	145	2	1	1	NUM
ajfa-82	145	3	.	.	X
ajfa-82	145	4	self	self	NOUN
ajfa-82	145	5	managed	manage	VERB
ajfa-82	145	6	superannuation	superannuation	NOUN
ajfa-82	145	7	funds	fund	NOUN
ajfa-82	145	8	:	:	PUNCT
ajfa-82	145	9	summary	summary	NOUN
ajfa-82	145	10	of	of	ADP
ajfa-82	145	11	portfolio	portfolio	NOUN
ajfa-82	145	12	structure	structure	NOUN
ajfa-82	145	13	asset	asset	NOUN
ajfa-82	145	14	class	class	NOUN
ajfa-82	146	1	mean	mean	NOUN
ajfa-82	146	2	%	%	NOUN
ajfa-82	146	3	(	(	PUNCT
ajfa-82	146	4	100	100	NUM
ajfa-82	146	5	portfolios	portfolio	NOUN
ajfa-82	146	6	)	)	PUNCT
ajfa-82	146	7	mean	mean	NOUN
ajfa-82	147	1	%	%	INTJ
ajfa-82	147	2	(	(	PUNCT
ajfa-82	147	3	41	41	NUM
ajfa-82	147	4	portfolios	portfolio	NOUN
ajfa-82	147	5	)	)	PUNCT
ajfa-82	147	6	cash	cash	NOUN
ajfa-82	147	7	11	11	NUM
ajfa-82	147	8	22	22	NUM
ajfa-82	147	9	fixed	fix	VERB
ajfa-82	147	10	interest	interest	NOUN
ajfa-82	147	11	13	13	NUM
ajfa-82	147	12	2	2	NUM
ajfa-82	147	13	listed	list	VERB
ajfa-82	147	14	shares	share	NOUN
ajfa-82	147	15	40	40	NUM
ajfa-82	147	16	47	47	NUM
ajfa-82	147	17	unlisted	unlisted	ADJ
ajfa-82	147	18	shares	share	NOUN
ajfa-82	147	19	5	5	NUM
ajfa-82	147	20	<	<	SYM
ajfa-82	147	21	1	1	NUM
ajfa-82	147	22	overseas	overseas	ADJ
ajfa-82	147	23	listed	list	VERB
ajfa-82	147	24	shares	share	NOUN
ajfa-82	147	25	1	1	NUM
ajfa-82	147	26	<	<	SYM
ajfa-82	147	27	1	1	NUM
ajfa-82	147	28	asian	asian	ADJ
ajfa-82	147	29	journal	journal	NOUN
ajfa-82	147	30	of	of	ADP
ajfa-82	147	31	finance	finance	PROPN
ajfa-82	147	32	&	&	CCONJ
ajfa-82	147	33	accounting	accounting	PROPN
ajfa-82	147	34	issn	issn	PROPN
ajfa-82	147	35	1946	1946	NUM
ajfa-82	147	36	-	-	PUNCT
ajfa-82	147	37	052x	052x	NOUN
ajfa-82	147	38	2009	2009	NUM
ajfa-82	147	39	,	,	PUNCT
ajfa-82	147	40	vol	vol	NOUN
ajfa-82	147	41	.	.	PROPN
ajfa-82	147	42	1	1	NUM
ajfa-82	147	43	,	,	PUNCT
ajfa-82	147	44	no	no	INTJ
ajfa-82	147	45	.	.	NOUN
ajfa-82	147	46	1	1	NUM
ajfa-82	147	47	:	:	PUNCT
ajfa-82	147	48	e1	e1	VERB
ajfa-82	147	49	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	147	50	62	62	NUM
ajfa-82	147	51	overseas	overseas	ADJ
ajfa-82	147	52	unlisted	unlisted	ADJ
ajfa-82	147	53	shares	share	NOUN
ajfa-82	147	54	2	2	NUM
ajfa-82	147	55	0	0	NUM
ajfa-82	147	56	managed	manage	VERB
ajfa-82	147	57	investments	investment	NOUN
ajfa-82	147	58	10	10	NUM
ajfa-82	147	59	5	5	NUM
ajfa-82	147	60	listed	list	VERB
ajfa-82	147	61	unit	unit	NOUN
ajfa-82	147	62	trusts	trust	VERB
ajfa-82	147	63	4	4	NUM
ajfa-82	147	64	14	14	NUM
ajfa-82	147	65	unlisted	unliste	VERB
ajfa-82	147	66	unit	unit	NOUN
ajfa-82	147	67	trusts	trust	VERB
ajfa-82	147	68	12	12	NUM
ajfa-82	147	69	0	0	NUM
ajfa-82	147	70	real	real	ADJ
ajfa-82	147	71	estate	estate	NOUN
ajfa-82	147	72	2	2	NUM
ajfa-82	147	73	10	10	NUM
ajfa-82	147	74	total	total	NOUN
ajfa-82	147	75	100	100	NUM
ajfa-82	147	76	100	100	NUM
ajfa-82	147	77	notes	note	NOUN
ajfa-82	147	78	:	:	PUNCT
ajfa-82	147	79	the	the	DET
ajfa-82	147	80	asset	asset	NOUN
ajfa-82	147	81	categories	category	NOUN
ajfa-82	147	82	are	be	AUX
ajfa-82	147	83	self	self	NOUN
ajfa-82	147	84	-	-	PUNCT
ajfa-82	147	85	explanatory	explanatory	ADJ
ajfa-82	147	86	.	.	PUNCT
ajfa-82	148	1	for	for	ADP
ajfa-82	148	2	the	the	DET
ajfa-82	148	3	„	„	PUNCT
ajfa-82	148	4	41	41	NUM
ajfa-82	148	5	portfolios‟	portfolios‟	ADV
ajfa-82	148	6	there	there	PRON
ajfa-82	148	7	was	be	VERB
ajfa-82	148	8	no	no	DET
ajfa-82	148	9	distinction	distinction	NOUN
ajfa-82	148	10	made	make	VERB
ajfa-82	148	11	between	between	ADP
ajfa-82	148	12	listed	list	VERB
ajfa-82	148	13	and	and	CCONJ
ajfa-82	148	14	unlisted	unlisted	ADJ
ajfa-82	148	15	unit	unit	NOUN
ajfa-82	148	16	trusts	trust	NOUN
ajfa-82	148	17	in	in	ADP
ajfa-82	148	18	the	the	DET
ajfa-82	148	19	portfolio	portfolio	NOUN
ajfa-82	148	20	structure	structure	NOUN
ajfa-82	148	21	summaries	summary	NOUN
ajfa-82	148	22	obtained	obtain	VERB
ajfa-82	148	23	for	for	ADP
ajfa-82	148	24	this	this	DET
ajfa-82	148	25	research	research	NOUN
ajfa-82	148	26	.	.	PUNCT
ajfa-82	149	1	all	all	DET
ajfa-82	149	2	unit	unit	NOUN
ajfa-82	149	3	trusts	trust	NOUN
ajfa-82	149	4	were	be	AUX
ajfa-82	149	5	simply	simply	ADV
ajfa-82	149	6	classified	classify	VERB
ajfa-82	149	7	as	as	ADP
ajfa-82	149	8	„	„	PUNCT
ajfa-82	149	9	listed	list	VERB
ajfa-82	149	10	unit	unit	NOUN
ajfa-82	149	11	trusts‟.	trusts‟.	PROPN
ajfa-82	149	12	hence	hence	ADV
ajfa-82	149	13	,	,	PUNCT
ajfa-82	149	14	it	it	PRON
ajfa-82	149	15	could	could	AUX
ajfa-82	149	16	very	very	ADV
ajfa-82	149	17	well	well	ADV
ajfa-82	149	18	be	be	AUX
ajfa-82	149	19	the	the	DET
ajfa-82	149	20	case	case	NOUN
ajfa-82	149	21	that	that	SCONJ
ajfa-82	149	22	the	the	DET
ajfa-82	149	23	allocation	allocation	NOUN
ajfa-82	149	24	between	between	ADP
ajfa-82	149	25	listed	list	VERB
ajfa-82	149	26	and	and	CCONJ
ajfa-82	149	27	unlisted	unlisted	ADJ
ajfa-82	149	28	unit	unit	NOUN
ajfa-82	149	29	trusts	trust	NOUN
ajfa-82	149	30	diverges	diverge	VERB
ajfa-82	149	31	less	less	ADJ
ajfa-82	149	32	between	between	ADP
ajfa-82	149	33	the	the	DET
ajfa-82	149	34	two	two	NUM
ajfa-82	149	35	parts	part	NOUN
ajfa-82	149	36	of	of	ADP
ajfa-82	149	37	the	the	DET
ajfa-82	149	38	sample	sample	NOUN
ajfa-82	149	39	than	than	SCONJ
ajfa-82	149	40	the	the	DET
ajfa-82	149	41	figures	figure	NOUN
ajfa-82	149	42	in	in	ADP
ajfa-82	149	43	the	the	DET
ajfa-82	149	44	table	table	NOUN
ajfa-82	149	45	appear	appear	VERB
ajfa-82	149	46	to	to	PART
ajfa-82	149	47	show	show	VERB
ajfa-82	149	48	.	.	PUNCT
ajfa-82	150	1	a	a	DET
ajfa-82	150	2	simple	simple	ADJ
ajfa-82	150	3	comparison	comparison	NOUN
ajfa-82	150	4	of	of	ADP
ajfa-82	150	5	the	the	DET
ajfa-82	150	6	two	two	NUM
ajfa-82	150	7	samples	sample	NOUN
ajfa-82	150	8	reveals	reveal	VERB
ajfa-82	150	9	some	some	DET
ajfa-82	150	10	interesting	interesting	ADJ
ajfa-82	150	11	results	result	NOUN
ajfa-82	150	12	.	.	PUNCT
ajfa-82	151	1	apart	apart	ADV
ajfa-82	151	2	from	from	ADP
ajfa-82	151	3	one	one	NUM
ajfa-82	151	4	or	or	CCONJ
ajfa-82	151	5	two	two	NUM
ajfa-82	151	6	of	of	ADP
ajfa-82	151	7	the	the	DET
ajfa-82	151	8	asset	asset	NOUN
ajfa-82	151	9	categories	category	NOUN
ajfa-82	151	10	,	,	PUNCT
ajfa-82	151	11	the	the	DET
ajfa-82	151	12	average	average	ADJ
ajfa-82	151	13	allocations	allocation	NOUN
ajfa-82	151	14	appear	appear	VERB
ajfa-82	151	15	to	to	PART
ajfa-82	151	16	be	be	AUX
ajfa-82	151	17	quite	quite	ADV
ajfa-82	151	18	similar	similar	ADJ
ajfa-82	151	19	.	.	PUNCT
ajfa-82	152	1	this	this	PRON
ajfa-82	152	2	is	be	AUX
ajfa-82	152	3	quite	quite	ADV
ajfa-82	152	4	reassuring	reassuring	ADJ
ajfa-82	152	5	.	.	PUNCT
ajfa-82	153	1	because	because	SCONJ
ajfa-82	153	2	the	the	DET
ajfa-82	153	3	samples	sample	NOUN
ajfa-82	153	4	are	be	AUX
ajfa-82	153	5	independent	independent	ADJ
ajfa-82	153	6	,	,	PUNCT
ajfa-82	153	7	the	the	DET
ajfa-82	153	8	similarity	similarity	NOUN
ajfa-82	153	9	of	of	ADP
ajfa-82	153	10	the	the	DET
ajfa-82	153	11	asset	asset	NOUN
ajfa-82	153	12	allocations	allocation	NOUN
ajfa-82	153	13	provides	provide	VERB
ajfa-82	153	14	us	we	PRON
ajfa-82	153	15	with	with	ADP
ajfa-82	153	16	a	a	DET
ajfa-82	153	17	greater	great	ADJ
ajfa-82	153	18	degree	degree	NOUN
ajfa-82	153	19	of	of	ADP
ajfa-82	153	20	confidence	confidence	NOUN
ajfa-82	153	21	in	in	ADP
ajfa-82	153	22	the	the	DET
ajfa-82	153	23	results	result	NOUN
ajfa-82	153	24	of	of	ADP
ajfa-82	153	25	the	the	DET
ajfa-82	153	26	analysis	analysis	NOUN
ajfa-82	153	27	.	.	PUNCT
ajfa-82	154	1	upon	upon	SCONJ
ajfa-82	154	2	close	close	ADJ
ajfa-82	154	3	inspection	inspection	NOUN
ajfa-82	154	4	it	it	PRON
ajfa-82	154	5	is	be	AUX
ajfa-82	154	6	apparent	apparent	ADJ
ajfa-82	154	7	that	that	SCONJ
ajfa-82	154	8	the	the	DET
ajfa-82	154	9	sample	sample	NOUN
ajfa-82	154	10	of	of	ADP
ajfa-82	154	11	41	41	NUM
ajfa-82	154	12	smsfs	smsfs	ADV
ajfa-82	154	13	tend	tend	VERB
ajfa-82	154	14	to	to	PART
ajfa-82	154	15	allocate	allocate	VERB
ajfa-82	154	16	a	a	DET
ajfa-82	154	17	far	far	ADV
ajfa-82	154	18	larger	large	ADJ
ajfa-82	154	19	amount	amount	NOUN
ajfa-82	154	20	to	to	PART
ajfa-82	154	21	cash	cash	NOUN
ajfa-82	154	22	than	than	SCONJ
ajfa-82	154	23	most	most	ADJ
ajfa-82	154	24	financial	financial	ADJ
ajfa-82	154	25	advisors	advisor	NOUN
ajfa-82	154	26	would	would	AUX
ajfa-82	154	27	recommend	recommend	VERB
ajfa-82	154	28	(	(	PUNCT
ajfa-82	154	29	except	except	SCONJ
ajfa-82	154	30	for	for	ADP
ajfa-82	154	31	the	the	DET
ajfa-82	154	32	most	most	ADV
ajfa-82	154	33	conservative	conservative	ADJ
ajfa-82	154	34	of	of	ADP
ajfa-82	154	35	investment	investment	NOUN
ajfa-82	154	36	strategies	strategy	NOUN
ajfa-82	154	37	which	which	PRON
ajfa-82	154	38	,	,	PUNCT
ajfa-82	154	39	of	of	ADP
ajfa-82	154	40	course	course	NOUN
ajfa-82	154	41	,	,	PUNCT
ajfa-82	154	42	would	would	AUX
ajfa-82	154	43	also	also	ADV
ajfa-82	154	44	contain	contain	VERB
ajfa-82	154	45	a	a	DET
ajfa-82	154	46	far	far	ADV
ajfa-82	154	47	lower	low	ADJ
ajfa-82	154	48	allocation	allocation	NOUN
ajfa-82	154	49	to	to	ADP
ajfa-82	154	50	shares	share	NOUN
ajfa-82	154	51	than	than	ADP
ajfa-82	154	52	the	the	DET
ajfa-82	154	53	smsfs	smsfs	ADJ
ajfa-82	154	54	exhibit	exhibit	NOUN
ajfa-82	154	55	)	)	PUNCT
ajfa-82	154	56	.	.	PUNCT
ajfa-82	155	1	the	the	DET
ajfa-82	155	2	trustees	trustee	NOUN
ajfa-82	155	3	of	of	ADP
ajfa-82	155	4	the	the	DET
ajfa-82	155	5	41	41	NUM
ajfa-82	155	6	smsfs	smsfs	NOUN
ajfa-82	155	7	appear	appear	VERB
ajfa-82	155	8	to	to	PART
ajfa-82	155	9	lack	lack	VERB
ajfa-82	155	10	awareness	awareness	NOUN
ajfa-82	155	11	regarding	regard	VERB
ajfa-82	155	12	the	the	DET
ajfa-82	155	13	importance	importance	NOUN
ajfa-82	155	14	of	of	ADP
ajfa-82	155	15	fixed	fix	VERB
ajfa-82	155	16	interest	interest	NOUN
ajfa-82	155	17	investments	investment	NOUN
ajfa-82	155	18	.	.	PUNCT
ajfa-82	156	1	whilst	whilst	SCONJ
ajfa-82	156	2	such	such	ADJ
ajfa-82	156	3	investments	investment	NOUN
ajfa-82	156	4	are	be	AUX
ajfa-82	156	5	very	very	ADV
ajfa-82	156	6	low	low	ADJ
ajfa-82	156	7	risk	risk	NOUN
ajfa-82	156	8	,	,	PUNCT
ajfa-82	156	9	the	the	DET
ajfa-82	156	10	yield	yield	NOUN
ajfa-82	156	11	is	be	AUX
ajfa-82	156	12	usually	usually	ADV
ajfa-82	156	13	much	much	ADV
ajfa-82	156	14	more	more	ADJ
ajfa-82	156	15	than	than	ADP
ajfa-82	156	16	that	that	PRON
ajfa-82	156	17	which	which	PRON
ajfa-82	156	18	could	could	AUX
ajfa-82	156	19	be	be	AUX
ajfa-82	156	20	obtained	obtain	VERB
ajfa-82	156	21	from	from	ADP
ajfa-82	156	22	holding	hold	VERB
ajfa-82	156	23	cash	cash	NOUN
ajfa-82	156	24	in	in	ADP
ajfa-82	156	25	bank	bank	NOUN
ajfa-82	156	26	accounts	account	NOUN
ajfa-82	156	27	.	.	PUNCT
ajfa-82	157	1	developing	develop	VERB
ajfa-82	157	2	such	such	ADJ
ajfa-82	157	3	awareness	awareness	NOUN
ajfa-82	157	4	in	in	ADP
ajfa-82	157	5	clients	client	NOUN
ajfa-82	157	6	is	be	AUX
ajfa-82	157	7	one	one	NUM
ajfa-82	157	8	benefit	benefit	NOUN
ajfa-82	157	9	likely	likely	ADJ
ajfa-82	157	10	to	to	PART
ajfa-82	157	11	accrue	accrue	VERB
ajfa-82	157	12	to	to	ADP
ajfa-82	157	13	smsf	smsf	PROPN
ajfa-82	157	14	trustees	trustee	NOUN
ajfa-82	157	15	who	who	PRON
ajfa-82	157	16	seek	seek	VERB
ajfa-82	157	17	financial	financial	ADJ
ajfa-82	157	18	advice	advice	NOUN
ajfa-82	157	19	.	.	PUNCT
ajfa-82	158	1	of	of	ADP
ajfa-82	158	2	course	course	NOUN
ajfa-82	158	3	,	,	PUNCT
ajfa-82	158	4	many	many	ADJ
ajfa-82	158	5	of	of	ADP
ajfa-82	158	6	the	the	DET
ajfa-82	158	7	other	other	ADJ
ajfa-82	158	8	benefits	benefit	NOUN
ajfa-82	158	9	of	of	ADP
ajfa-82	158	10	financial	financial	ADJ
ajfa-82	158	11	advice	advice	NOUN
ajfa-82	158	12	are	be	AUX
ajfa-82	158	13	not	not	PART
ajfa-82	158	14	apparent	apparent	ADJ
ajfa-82	158	15	from	from	ADP
ajfa-82	158	16	the	the	DET
ajfa-82	158	17	summary	summary	NOUN
ajfa-82	158	18	data	datum	NOUN
ajfa-82	158	19	presented	present	VERB
ajfa-82	158	20	in	in	ADP
ajfa-82	158	21	table	table	NOUN
ajfa-82	158	22	1	1	NUM
ajfa-82	158	23	.	.	PUNCT
ajfa-82	159	1	for	for	ADP
ajfa-82	159	2	example	example	NOUN
ajfa-82	159	3	,	,	PUNCT
ajfa-82	159	4	the	the	DET
ajfa-82	159	5	diversification	diversification	NOUN
ajfa-82	159	6	of	of	ADP
ajfa-82	159	7	the	the	DET
ajfa-82	159	8	shares	share	NOUN
ajfa-82	159	9	component	component	NOUN
ajfa-82	159	10	is	be	AUX
ajfa-82	159	11	of	of	ADP
ajfa-82	159	12	vital	vital	ADJ
ajfa-82	159	13	importance	importance	NOUN
ajfa-82	159	14	(	(	PUNCT
ajfa-82	159	15	see	see	VERB
ajfa-82	159	16	phillips	phillips	PROPN
ajfa-82	159	17	,	,	PUNCT
ajfa-82	159	18	cathcart	cathcart	PROPN
ajfa-82	159	19	and	and	CCONJ
ajfa-82	159	20	teale	teale	PROPN
ajfa-82	159	21	(	(	PUNCT
ajfa-82	159	22	2007	2007	NUM
ajfa-82	159	23	)	)	PUNCT
ajfa-82	159	24	)	)	PUNCT
ajfa-82	159	25	.	.	PUNCT
ajfa-82	160	1	4	4	X
ajfa-82	160	2	.	.	X
ajfa-82	160	3	the	the	DET
ajfa-82	160	4	analysis	analysis	NOUN
ajfa-82	160	5	a	a	DET
ajfa-82	160	6	risk	risk	NOUN
ajfa-82	160	7	free	free	ADJ
ajfa-82	160	8	asset	asset	NOUN
ajfa-82	160	9	is	be	AUX
ajfa-82	160	10	one	one	NUM
ajfa-82	160	11	for	for	ADP
ajfa-82	160	12	which	which	PRON
ajfa-82	160	13	the	the	DET
ajfa-82	160	14	standard	standard	ADJ
ajfa-82	160	15	deviation	deviation	NOUN
ajfa-82	160	16	of	of	ADP
ajfa-82	160	17	the	the	DET
ajfa-82	160	18	possible	possible	ADJ
ajfa-82	160	19	divergence	divergence	NOUN
ajfa-82	160	20	of	of	ADP
ajfa-82	160	21	actual	actual	ADJ
ajfa-82	160	22	returns	return	NOUN
ajfa-82	160	23	from	from	ADP
ajfa-82	160	24	expected	expect	VERB
ajfa-82	160	25	returns	return	NOUN
ajfa-82	160	26	is	be	AUX
ajfa-82	160	27	zero	zero	NUM
ajfa-82	160	28	.	.	PUNCT
ajfa-82	161	1	for	for	ADP
ajfa-82	161	2	the	the	DET
ajfa-82	161	3	purposes	purpose	NOUN
ajfa-82	161	4	of	of	ADP
ajfa-82	161	5	this	this	DET
ajfa-82	161	6	investigation	investigation	NOUN
ajfa-82	161	7	,	,	PUNCT
ajfa-82	161	8	cash	cash	NOUN
ajfa-82	161	9	is	be	AUX
ajfa-82	161	10	the	the	DET
ajfa-82	161	11	risk	risk	NOUN
ajfa-82	161	12	free	free	ADJ
ajfa-82	161	13	asset	asset	NOUN
ajfa-82	161	14	(	(	PUNCT
ajfa-82	161	15	leaving	leave	VERB
ajfa-82	161	16	aside	aside	ADV
ajfa-82	161	17	considerations	consideration	NOUN
ajfa-82	161	18	of	of	ADP
ajfa-82	161	19	inflation	inflation	NOUN
ajfa-82	161	20	risk	risk	NOUN
ajfa-82	161	21	(	(	PUNCT
ajfa-82	161	22	see	see	VERB
ajfa-82	161	23	cohn	cohn	PROPN
ajfa-82	161	24	et	et	PROPN
ajfa-82	161	25	al	al	PROPN
ajfa-82	161	26	.	.	PROPN
ajfa-82	161	27	1975	1975	NUM
ajfa-82	161	28	)	)	PUNCT
ajfa-82	161	29	)	)	PUNCT
ajfa-82	161	30	.	.	PUNCT
ajfa-82	162	1	all	all	DET
ajfa-82	162	2	other	other	ADJ
ajfa-82	162	3	assets	asset	NOUN
ajfa-82	162	4	,	,	PUNCT
ajfa-82	162	5	which	which	PRON
ajfa-82	162	6	have	have	VERB
ajfa-82	162	7	positive	positive	ADJ
ajfa-82	162	8	standard	standard	ADJ
ajfa-82	162	9	deviation	deviation	NOUN
ajfa-82	162	10	of	of	ADP
ajfa-82	162	11	returns	return	NOUN
ajfa-82	162	12	,	,	PUNCT
ajfa-82	162	13	are	be	AUX
ajfa-82	162	14	risky	risky	ADJ
ajfa-82	162	15	4	4	NUM
ajfa-82	162	16	.	.	PUNCT
ajfa-82	163	1	before	before	ADP
ajfa-82	163	2	proceeding	proceed	VERB
ajfa-82	163	3	to	to	ADP
ajfa-82	163	4	the	the	DET
ajfa-82	163	5	formal	formal	ADJ
ajfa-82	163	6	statistical	statistical	ADJ
ajfa-82	163	7	analysis	analysis	NOUN
ajfa-82	163	8	of	of	ADP
ajfa-82	163	9	the	the	DET
ajfa-82	163	10	relationship	relationship	NOUN
ajfa-82	163	11	between	between	ADP
ajfa-82	163	12	smsf	smsf	PROPN
ajfa-82	163	13	portfolio	portfolio	NOUN
ajfa-82	163	14	size	size	NOUN
ajfa-82	163	15	and	and	CCONJ
ajfa-82	163	16	allocation	allocation	NOUN
ajfa-82	163	17	to	to	ADP
ajfa-82	163	18	4	4	NUM
ajfa-82	163	19	the	the	DET
ajfa-82	163	20	risk	risk	NOUN
ajfa-82	163	21	varies	vary	VERB
ajfa-82	163	22	,	,	PUNCT
ajfa-82	163	23	of	of	ADP
ajfa-82	163	24	course	course	NOUN
ajfa-82	163	25	.	.	PUNCT
ajfa-82	164	1	some	some	DET
ajfa-82	164	2	securities	security	NOUN
ajfa-82	164	3	are	be	AUX
ajfa-82	164	4	more	more	ADV
ajfa-82	164	5	risky	risky	ADJ
ajfa-82	164	6	than	than	ADP
ajfa-82	164	7	others	other	NOUN
ajfa-82	164	8	but	but	CCONJ
ajfa-82	164	9	this	this	PRON
ajfa-82	164	10	is	be	AUX
ajfa-82	164	11	not	not	PART
ajfa-82	164	12	a	a	DET
ajfa-82	164	13	salient	salient	NOUN
ajfa-82	164	14	point	point	NOUN
ajfa-82	164	15	for	for	ADP
ajfa-82	164	16	the	the	DET
ajfa-82	164	17	purposes	purpose	NOUN
ajfa-82	164	18	of	of	ADP
ajfa-82	164	19	this	this	DET
ajfa-82	164	20	investigation	investigation	NOUN
ajfa-82	164	21	.	.	PUNCT
ajfa-82	165	1	asian	asian	ADJ
ajfa-82	165	2	journal	journal	PROPN
ajfa-82	165	3	of	of	ADP
ajfa-82	165	4	finance	finance	PROPN
ajfa-82	165	5	&	&	CCONJ
ajfa-82	165	6	accounting	accounting	PROPN
ajfa-82	165	7	issn	issn	PROPN
ajfa-82	165	8	1946	1946	NUM
ajfa-82	165	9	-	-	PUNCT
ajfa-82	165	10	052x	052x	NOUN
ajfa-82	165	11	2009	2009	NUM
ajfa-82	165	12	,	,	PUNCT
ajfa-82	165	13	vol	vol	NOUN
ajfa-82	165	14	.	.	PROPN
ajfa-82	165	15	1	1	NUM
ajfa-82	165	16	,	,	PUNCT
ajfa-82	165	17	no	no	INTJ
ajfa-82	165	18	.	.	NOUN
ajfa-82	165	19	1	1	NUM
ajfa-82	165	20	:	:	PUNCT
ajfa-82	165	21	e1	e1	VERB
ajfa-82	165	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	165	23	63	63	NUM
ajfa-82	165	24	risky	risky	ADJ
ajfa-82	165	25	assets	asset	NOUN
ajfa-82	165	26	,	,	PUNCT
ajfa-82	165	27	much	much	ADJ
ajfa-82	165	28	can	can	AUX
ajfa-82	165	29	be	be	AUX
ajfa-82	165	30	learned	learn	VERB
ajfa-82	165	31	about	about	ADP
ajfa-82	165	32	this	this	DET
ajfa-82	165	33	relationship	relationship	NOUN
ajfa-82	165	34	through	through	ADP
ajfa-82	165	35	the	the	DET
ajfa-82	165	36	informal	informal	ADJ
ajfa-82	165	37	method	method	NOUN
ajfa-82	165	38	of	of	ADP
ajfa-82	165	39	analysing	analyse	VERB
ajfa-82	165	40	data	datum	NOUN
ajfa-82	165	41	-	-	PUNCT
ajfa-82	165	42	plots	plot	NOUN
ajfa-82	165	43	or	or	CCONJ
ajfa-82	165	44	charts	chart	NOUN
ajfa-82	165	45	.	.	PUNCT
ajfa-82	166	1	of	of	ADP
ajfa-82	166	2	course	course	NOUN
ajfa-82	166	3	,	,	PUNCT
ajfa-82	166	4	the	the	DET
ajfa-82	166	5	value	value	NOUN
ajfa-82	166	6	of	of	ADP
ajfa-82	166	7	this	this	DET
ajfa-82	166	8	particular	particular	ADJ
ajfa-82	166	9	activity	activity	NOUN
ajfa-82	166	10	lies	lie	VERB
ajfa-82	166	11	in	in	ADP
ajfa-82	166	12	the	the	DET
ajfa-82	166	13	light	light	NOUN
ajfa-82	166	14	that	that	PRON
ajfa-82	166	15	it	it	PRON
ajfa-82	166	16	can	can	AUX
ajfa-82	166	17	shed	shed	VERB
ajfa-82	166	18	on	on	ADP
ajfa-82	166	19	the	the	DET
ajfa-82	166	20	characteristics	characteristic	NOUN
ajfa-82	166	21	of	of	ADP
ajfa-82	166	22	the	the	DET
ajfa-82	166	23	smsfs	smsfs	NOUN
ajfa-82	166	24	in	in	ADP
ajfa-82	166	25	the	the	DET
ajfa-82	166	26	samples	sample	NOUN
ajfa-82	166	27	.	.	PUNCT
ajfa-82	167	1	not	not	PART
ajfa-82	167	2	only	only	ADV
ajfa-82	167	3	does	do	AUX
ajfa-82	167	4	an	an	DET
ajfa-82	167	5	analysis	analysis	NOUN
ajfa-82	167	6	of	of	ADP
ajfa-82	167	7	a	a	DET
ajfa-82	167	8	small	small	ADJ
ajfa-82	167	9	number	number	NOUN
ajfa-82	167	10	of	of	ADP
ajfa-82	167	11	data	datum	NOUN
ajfa-82	167	12	-	-	PUNCT
ajfa-82	167	13	plots	plot	NOUN
ajfa-82	167	14	provide	provide	VERB
ajfa-82	167	15	contextual	contextual	ADJ
ajfa-82	167	16	completeness	completeness	NOUN
ajfa-82	167	17	for	for	ADP
ajfa-82	167	18	the	the	DET
ajfa-82	167	19	investigation	investigation	NOUN
ajfa-82	167	20	,	,	PUNCT
ajfa-82	167	21	it	it	PRON
ajfa-82	167	22	also	also	ADV
ajfa-82	167	23	provides	provide	VERB
ajfa-82	167	24	some	some	DET
ajfa-82	167	25	important	important	ADJ
ajfa-82	167	26	insights	insight	NOUN
ajfa-82	167	27	into	into	ADP
ajfa-82	167	28	the	the	DET
ajfa-82	167	29	operation	operation	NOUN
ajfa-82	167	30	of	of	ADP
ajfa-82	167	31	individual	individual	ADJ
ajfa-82	167	32	smsfs	smsfs	PROPN
ajfa-82	167	33	that	that	PRON
ajfa-82	167	34	can	can	AUX
ajfa-82	167	35	not	not	PART
ajfa-82	167	36	be	be	AUX
ajfa-82	167	37	obtained	obtain	VERB
ajfa-82	167	38	through	through	ADP
ajfa-82	167	39	an	an	DET
ajfa-82	167	40	analysis	analysis	NOUN
ajfa-82	167	41	of	of	ADP
ajfa-82	167	42	the	the	DET
ajfa-82	167	43	aggregated	aggregate	VERB
ajfa-82	167	44	data	datum	NOUN
ajfa-82	167	45	such	such	ADJ
ajfa-82	167	46	as	as	ADP
ajfa-82	167	47	that	that	PRON
ajfa-82	167	48	which	which	PRON
ajfa-82	167	49	is	be	AUX
ajfa-82	167	50	available	available	ADJ
ajfa-82	167	51	from	from	ADP
ajfa-82	167	52	the	the	DET
ajfa-82	167	53	australian	australian	ADJ
ajfa-82	167	54	taxation	taxation	NOUN
ajfa-82	167	55	office	office	NOUN
ajfa-82	167	56	.	.	PUNCT
ajfa-82	168	1	for	for	ADP
ajfa-82	168	2	the	the	DET
ajfa-82	168	3	100	100	NUM
ajfa-82	168	4	-	-	PUNCT
ajfa-82	168	5	portfolio	portfolio	NOUN
ajfa-82	168	6	sample	sample	NOUN
ajfa-82	168	7	,	,	PUNCT
ajfa-82	168	8	figure	figure	VERB
ajfa-82	168	9	one	one	NUM
ajfa-82	168	10	below	below	ADP
ajfa-82	168	11	presents	present	VERB
ajfa-82	168	12	a	a	DET
ajfa-82	168	13	chart	chart	NOUN
ajfa-82	168	14	of	of	ADP
ajfa-82	168	15	the	the	DET
ajfa-82	168	16	total	total	ADJ
ajfa-82	168	17	fund	fund	NOUN
ajfa-82	168	18	size	size	NOUN
ajfa-82	168	19	for	for	ADP
ajfa-82	168	20	each	each	DET
ajfa-82	168	21	portfolio	portfolio	NOUN
ajfa-82	168	22	.	.	PUNCT
ajfa-82	169	1	this	this	PRON
ajfa-82	169	2	may	may	AUX
ajfa-82	169	3	be	be	AUX
ajfa-82	169	4	compared	compare	VERB
ajfa-82	169	5	with	with	ADP
ajfa-82	169	6	the	the	DET
ajfa-82	169	7	data	datum	NOUN
ajfa-82	169	8	presented	present	VERB
ajfa-82	169	9	in	in	ADP
ajfa-82	169	10	figure	figure	NOUN
ajfa-82	169	11	two	two	NUM
ajfa-82	169	12	,	,	PUNCT
ajfa-82	169	13	which	which	PRON
ajfa-82	169	14	shows	show	VERB
ajfa-82	169	15	the	the	DET
ajfa-82	169	16	percentage	percentage	NOUN
ajfa-82	169	17	invested	invest	VERB
ajfa-82	169	18	in	in	ADP
ajfa-82	169	19	cash	cash	NOUN
ajfa-82	169	20	for	for	ADP
ajfa-82	169	21	each	each	DET
ajfa-82	169	22	portfolio	portfolio	NOUN
ajfa-82	169	23	in	in	ADP
ajfa-82	169	24	the	the	DET
ajfa-82	169	25	100	100	NUM
ajfa-82	169	26	-	-	PUNCT
ajfa-82	169	27	portfolio	portfolio	NOUN
ajfa-82	169	28	sample	sample	NOUN
ajfa-82	169	29	.	.	PUNCT
ajfa-82	170	1	an	an	DET
ajfa-82	170	2	inspection	inspection	NOUN
ajfa-82	170	3	of	of	ADP
ajfa-82	170	4	figures	figure	NOUN
ajfa-82	170	5	one	one	NUM
ajfa-82	170	6	and	and	CCONJ
ajfa-82	170	7	two	two	NUM
ajfa-82	170	8	does	do	AUX
ajfa-82	170	9	not	not	PART
ajfa-82	170	10	reveal	reveal	VERB
ajfa-82	170	11	any	any	DET
ajfa-82	170	12	obvious	obvious	ADJ
ajfa-82	170	13	relationship	relationship	NOUN
ajfa-82	170	14	between	between	ADP
ajfa-82	170	15	fund	fund	NOUN
ajfa-82	170	16	size	size	NOUN
ajfa-82	170	17	and	and	CCONJ
ajfa-82	170	18	allocations	allocation	NOUN
ajfa-82	170	19	to	to	ADP
ajfa-82	170	20	cash	cash	NOUN
ajfa-82	170	21	.	.	PUNCT
ajfa-82	171	1	the	the	DET
ajfa-82	171	2	larger	large	ADJ
ajfa-82	171	3	portfolios	portfolio	NOUN
ajfa-82	171	4	appear	appear	VERB
ajfa-82	171	5	,	,	PUNCT
ajfa-82	171	6	from	from	ADP
ajfa-82	171	7	what	what	PRON
ajfa-82	171	8	must	must	AUX
ajfa-82	171	9	be	be	AUX
ajfa-82	171	10	a	a	DET
ajfa-82	171	11	very	very	ADV
ajfa-82	171	12	cursory	cursory	ADJ
ajfa-82	171	13	inspection	inspection	NOUN
ajfa-82	171	14	at	at	ADP
ajfa-82	171	15	this	this	DET
ajfa-82	171	16	stage	stage	NOUN
ajfa-82	171	17	,	,	PUNCT
ajfa-82	171	18	to	to	PART
ajfa-82	171	19	be	be	AUX
ajfa-82	171	20	just	just	ADV
ajfa-82	171	21	as	as	ADV
ajfa-82	171	22	likely	likely	ADJ
ajfa-82	171	23	to	to	PART
ajfa-82	171	24	exhibit	exhibit	VERB
ajfa-82	171	25	low	low	ADJ
ajfa-82	171	26	allocations	allocation	NOUN
ajfa-82	171	27	to	to	PART
ajfa-82	171	28	cash	cash	VERB
ajfa-82	171	29	as	as	SCONJ
ajfa-82	171	30	they	they	PRON
ajfa-82	171	31	are	be	AUX
ajfa-82	171	32	to	to	PART
ajfa-82	171	33	exhibit	exhibit	VERB
ajfa-82	171	34	high	high	ADJ
ajfa-82	171	35	allocations	allocation	NOUN
ajfa-82	171	36	to	to	ADP
ajfa-82	171	37	cash	cash	NOUN
ajfa-82	171	38	.	.	PUNCT
ajfa-82	172	1	indeed	indeed	ADV
ajfa-82	172	2	,	,	PUNCT
ajfa-82	172	3	the	the	DET
ajfa-82	172	4	largest	large	ADJ
ajfa-82	172	5	fund	fund	NOUN
ajfa-82	172	6	in	in	ADP
ajfa-82	172	7	the	the	DET
ajfa-82	172	8	sample	sample	NOUN
ajfa-82	172	9	exhibits	exhibit	VERB
ajfa-82	172	10	among	among	ADP
ajfa-82	172	11	the	the	DET
ajfa-82	172	12	highest	high	ADJ
ajfa-82	172	13	allocations	allocation	NOUN
ajfa-82	172	14	to	to	ADP
ajfa-82	172	15	the	the	DET
ajfa-82	172	16	risk	risk	NOUN
ajfa-82	172	17	free	free	ADJ
ajfa-82	172	18	security	security	NOUN
ajfa-82	172	19	(	(	PUNCT
ajfa-82	172	20	30	30	NUM
ajfa-82	172	21	percent	percent	NOUN
ajfa-82	172	22	)	)	PUNCT
ajfa-82	172	23	whilst	whilst	SCONJ
ajfa-82	172	24	one	one	NUM
ajfa-82	172	25	of	of	ADP
ajfa-82	172	26	the	the	DET
ajfa-82	172	27	smallest	small	ADJ
ajfa-82	172	28	funds	fund	NOUN
ajfa-82	172	29	in	in	ADP
ajfa-82	172	30	the	the	DET
ajfa-82	172	31	sample	sample	NOUN
ajfa-82	172	32	exhibits	exhibit	VERB
ajfa-82	172	33	the	the	DET
ajfa-82	172	34	lowest	low	ADJ
ajfa-82	172	35	allocation	allocation	NOUN
ajfa-82	172	36	to	to	ADP
ajfa-82	172	37	the	the	DET
ajfa-82	172	38	risk	risk	NOUN
ajfa-82	172	39	free	free	ADJ
ajfa-82	172	40	security	security	NOUN
ajfa-82	172	41	(	(	PUNCT
ajfa-82	172	42	0	0	NUM
ajfa-82	172	43	percent	percent	NOUN
ajfa-82	172	44	)	)	PUNCT
ajfa-82	172	45	.	.	PUNCT
ajfa-82	173	1	the	the	DET
ajfa-82	173	2	percentage	percentage	NOUN
ajfa-82	173	3	allocations	allocation	NOUN
ajfa-82	173	4	to	to	ADP
ajfa-82	173	5	the	the	DET
ajfa-82	173	6	risk	risk	NOUN
ajfa-82	173	7	free	free	ADJ
ajfa-82	173	8	securities	security	NOUN
ajfa-82	173	9	appear	appear	VERB
ajfa-82	173	10	to	to	PART
ajfa-82	173	11	reveal	reveal	VERB
ajfa-82	173	12	no	no	DET
ajfa-82	173	13	structure	structure	NOUN
ajfa-82	173	14	or	or	CCONJ
ajfa-82	173	15	pattern	pattern	NOUN
ajfa-82	173	16	across	across	ADP
ajfa-82	173	17	the	the	DET
ajfa-82	173	18	funds	fund	NOUN
ajfa-82	173	19	in	in	ADP
ajfa-82	173	20	the	the	DET
ajfa-82	173	21	100	100	NUM
ajfa-82	173	22	-	-	PUNCT
ajfa-82	173	23	portfolio	portfolio	NOUN
ajfa-82	173	24	sample	sample	NOUN
ajfa-82	173	25	.	.	PUNCT
ajfa-82	174	1	this	this	PRON
ajfa-82	174	2	tends	tend	VERB
ajfa-82	174	3	to	to	PART
ajfa-82	174	4	indicate	indicate	VERB
ajfa-82	174	5	that	that	SCONJ
ajfa-82	174	6	we	we	PRON
ajfa-82	174	7	should	should	AUX
ajfa-82	174	8	expect	expect	VERB
ajfa-82	174	9	to	to	PART
ajfa-82	174	10	find	find	VERB
ajfa-82	174	11	that	that	SCONJ
ajfa-82	174	12	the	the	DET
ajfa-82	174	13	riskiness	riskiness	NOUN
ajfa-82	174	14	of	of	ADP
ajfa-82	174	15	the	the	DET
ajfa-82	174	16	smsfs	smsfs	PROPN
ajfa-82	174	17	is	be	AUX
ajfa-82	174	18	independent	independent	ADJ
ajfa-82	174	19	of	of	ADP
ajfa-82	174	20	the	the	DET
ajfa-82	174	21	size	size	NOUN
ajfa-82	174	22	of	of	ADP
ajfa-82	174	23	the	the	DET
ajfa-82	174	24	smsf	smsf	PROPN
ajfa-82	174	25	.	.	PUNCT
ajfa-82	175	1	however	however	ADV
ajfa-82	175	2	,	,	PUNCT
ajfa-82	175	3	it	it	PRON
ajfa-82	175	4	is	be	AUX
ajfa-82	175	5	necessary	necessary	ADJ
ajfa-82	175	6	to	to	PART
ajfa-82	175	7	undertake	undertake	VERB
ajfa-82	175	8	formal	formal	ADJ
ajfa-82	175	9	statistical	statistical	ADJ
ajfa-82	175	10	analysis	analysis	NOUN
ajfa-82	175	11	in	in	ADP
ajfa-82	175	12	order	order	NOUN
ajfa-82	175	13	to	to	PART
ajfa-82	175	14	determine	determine	VERB
ajfa-82	175	15	in	in	ADP
ajfa-82	175	16	a	a	DET
ajfa-82	175	17	rigorous	rigorous	ADJ
ajfa-82	175	18	manner	manner	NOUN
ajfa-82	175	19	whether	whether	SCONJ
ajfa-82	175	20	any	any	DET
ajfa-82	175	21	such	such	ADJ
ajfa-82	175	22	relationship	relationship	NOUN
ajfa-82	175	23	exists	exist	VERB
ajfa-82	175	24	.	.	PUNCT
ajfa-82	176	1	figure	figure	NOUN
ajfa-82	176	2	1	1	NUM
ajfa-82	176	3	.	.	PUNCT
ajfa-82	176	4	fund	fund	NOUN
ajfa-82	176	5	size	size	NOUN
ajfa-82	176	6	:	:	PUNCT
ajfa-82	176	7	100	100	NUM
ajfa-82	176	8	-	-	PUNCT
ajfa-82	176	9	portfolio	portfolio	NOUN
ajfa-82	176	10	sample	sample	NOUN
ajfa-82	176	11	asian	asian	ADJ
ajfa-82	176	12	journal	journal	PROPN
ajfa-82	176	13	of	of	ADP
ajfa-82	176	14	finance	finance	PROPN
ajfa-82	176	15	&	&	CCONJ
ajfa-82	176	16	accounting	accounting	PROPN
ajfa-82	176	17	issn	issn	PROPN
ajfa-82	176	18	1946	1946	NUM
ajfa-82	176	19	-	-	PUNCT
ajfa-82	176	20	052x	052x	NOUN
ajfa-82	176	21	2009	2009	NUM
ajfa-82	176	22	,	,	PUNCT
ajfa-82	176	23	vol	vol	NOUN
ajfa-82	176	24	.	.	PROPN
ajfa-82	177	1	1	1	NUM
ajfa-82	177	2	,	,	PUNCT
ajfa-82	177	3	no	no	INTJ
ajfa-82	177	4	.	.	NOUN
ajfa-82	177	5	1	1	NUM
ajfa-82	177	6	:	:	PUNCT
ajfa-82	177	7	e1	e1	VERB
ajfa-82	177	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	177	9	64	64	NUM
ajfa-82	177	10	figure	figure	NOUN
ajfa-82	177	11	2	2	NUM
ajfa-82	177	12	.	.	NOUN
ajfa-82	177	13	percentage	percentage	NOUN
ajfa-82	177	14	allocations	allocation	NOUN
ajfa-82	177	15	to	to	ADP
ajfa-82	177	16	cash	cash	NOUN
ajfa-82	177	17	:	:	PUNCT
ajfa-82	177	18	100	100	NUM
ajfa-82	177	19	portfolio	portfolio	NOUN
ajfa-82	177	20	sample	sample	NOUN
ajfa-82	177	21	to	to	PART
ajfa-82	177	22	analyse	analyse	VERB
ajfa-82	177	23	the	the	DET
ajfa-82	177	24	relationship	relationship	NOUN
ajfa-82	177	25	between	between	ADP
ajfa-82	177	26	smsf	smsf	PROPN
ajfa-82	177	27	portfolio	portfolio	NOUN
ajfa-82	177	28	size	size	NOUN
ajfa-82	177	29	and	and	CCONJ
ajfa-82	177	30	allocation	allocation	NOUN
ajfa-82	177	31	to	to	ADP
ajfa-82	177	32	risky	risky	ADJ
ajfa-82	177	33	assets	asset	NOUN
ajfa-82	177	34	,	,	PUNCT
ajfa-82	177	35	we	we	PRON
ajfa-82	177	36	must	must	AUX
ajfa-82	177	37	determine	determine	VERB
ajfa-82	177	38	the	the	DET
ajfa-82	177	39	percentage	percentage	NOUN
ajfa-82	177	40	of	of	ADP
ajfa-82	177	41	the	the	DET
ajfa-82	177	42	smsf	smsf	PROPN
ajfa-82	177	43	portfolios‟	portfolios‟	PROPN
ajfa-82	177	44	investable	investable	ADJ
ajfa-82	177	45	funds	fund	NOUN
ajfa-82	177	46	are	be	AUX
ajfa-82	177	47	allocated	allocate	VERB
ajfa-82	177	48	to	to	AUX
ajfa-82	177	49	cash	cash	VERB
ajfa-82	177	50	in	in	ADP
ajfa-82	177	51	various	various	ADJ
ajfa-82	177	52	categories	category	NOUN
ajfa-82	177	53	of	of	ADP
ajfa-82	177	54	fund	fund	NOUN
ajfa-82	177	55	sizes	size	NOUN
ajfa-82	177	56	.	.	PUNCT
ajfa-82	178	1	this	this	PRON
ajfa-82	178	2	provides	provide	VERB
ajfa-82	178	3	the	the	DET
ajfa-82	178	4	basis	basis	NOUN
ajfa-82	178	5	for	for	ADP
ajfa-82	178	6	the	the	DET
ajfa-82	178	7	formal	formal	ADJ
ajfa-82	178	8	,	,	PUNCT
ajfa-82	178	9	cross	cross	ADJ
ajfa-82	178	10	-	-	ADJ
ajfa-82	178	11	classification	classification	ADJ
ajfa-82	178	12	analysis	analysis	NOUN
ajfa-82	178	13	.	.	PUNCT
ajfa-82	179	1	because	because	SCONJ
ajfa-82	179	2	the	the	DET
ajfa-82	179	3	portfolios	portfolio	NOUN
ajfa-82	179	4	contained	contain	VERB
ajfa-82	179	5	in	in	ADP
ajfa-82	179	6	the	the	DET
ajfa-82	179	7	two	two	NUM
ajfa-82	179	8	sub	sub	NOUN
ajfa-82	179	9	-	-	NOUN
ajfa-82	179	10	samples	sample	NOUN
ajfa-82	179	11	diverge	diverge	VERB
ajfa-82	179	12	quite	quite	ADV
ajfa-82	179	13	significantly	significantly	ADV
ajfa-82	179	14	in	in	ADP
ajfa-82	179	15	average	average	ADJ
ajfa-82	179	16	size	size	NOUN
ajfa-82	179	17	,	,	PUNCT
ajfa-82	179	18	each	each	DET
ajfa-82	179	19	sub	sub	NOUN
ajfa-82	179	20	-	-	NOUN
ajfa-82	179	21	sample	sample	NOUN
ajfa-82	179	22	is	be	AUX
ajfa-82	179	23	analysed	analyse	VERB
ajfa-82	179	24	separately	separately	ADV
ajfa-82	179	25	.	.	PUNCT
ajfa-82	180	1	to	to	PART
ajfa-82	180	2	extract	extract	VERB
ajfa-82	180	3	the	the	DET
ajfa-82	180	4	appropriate	appropriate	ADJ
ajfa-82	180	5	information	information	NOUN
ajfa-82	180	6	required	require	VERB
ajfa-82	180	7	for	for	ADP
ajfa-82	180	8	statistical	statistical	ADJ
ajfa-82	180	9	testing	testing	NOUN
ajfa-82	180	10	,	,	PUNCT
ajfa-82	180	11	the	the	DET
ajfa-82	180	12	portfolios	portfolio	NOUN
ajfa-82	180	13	in	in	ADP
ajfa-82	180	14	the	the	DET
ajfa-82	180	15	100	100	NUM
ajfa-82	180	16	-	-	PUNCT
ajfa-82	180	17	portfolio	portfolio	NOUN
ajfa-82	180	18	sub	sub	NOUN
ajfa-82	180	19	-	-	NOUN
ajfa-82	180	20	sample	sample	NOUN
ajfa-82	180	21	were	be	AUX
ajfa-82	180	22	divided	divide	VERB
ajfa-82	180	23	according	accord	VERB
ajfa-82	180	24	to	to	ADP
ajfa-82	180	25	net	net	ADJ
ajfa-82	180	26	worth	worth	NOUN
ajfa-82	180	27	into	into	ADP
ajfa-82	180	28	five	five	NUM
ajfa-82	180	29	groups	group	NOUN
ajfa-82	180	30	:	:	PUNCT
ajfa-82	180	31	$	$	SYM
ajfa-82	180	32	0	0	NUM
ajfa-82	180	33	to	to	PART
ajfa-82	180	34	$	$	SYM
ajfa-82	180	35	500,000	500,000	NUM
ajfa-82	180	36	;	;	PUNCT
ajfa-82	180	37	$	$	SYM
ajfa-82	180	38	500,000	500,000	NUM
ajfa-82	180	39	to	to	PART
ajfa-82	180	40	$	$	SYM
ajfa-82	180	41	1,000,000	1,000,000	NUM
ajfa-82	180	42	;	;	PUNCT
ajfa-82	180	43	$	$	SYM
ajfa-82	180	44	1,000,000	1,000,000	NUM
ajfa-82	180	45	to	to	PART
ajfa-82	180	46	$	$	SYM
ajfa-82	180	47	1,500,000	1,500,000	NUM
ajfa-82	180	48	;	;	PUNCT
ajfa-82	180	49	$	$	SYM
ajfa-82	180	50	1,500,000	1,500,000	NUM
ajfa-82	180	51	to	to	PART
ajfa-82	180	52	$	$	SYM
ajfa-82	180	53	2,000,000	2,000,000	NUM
ajfa-82	180	54	;	;	PUNCT
ajfa-82	180	55	and	and	CCONJ
ajfa-82	180	56	$	$	SYM
ajfa-82	180	57	2,000,000	2,000,000	NUM
ajfa-82	180	58	+	+	NOUN
ajfa-82	180	59	.	.	PUNCT
ajfa-82	181	1	the	the	DET
ajfa-82	181	2	portfolios	portfolio	NOUN
ajfa-82	181	3	in	in	ADP
ajfa-82	181	4	the	the	DET
ajfa-82	181	5	41	41	NUM
ajfa-82	181	6	-	-	PUNCT
ajfa-82	181	7	portfolio	portfolio	NOUN
ajfa-82	181	8	sub	sub	NOUN
ajfa-82	181	9	-	-	NOUN
ajfa-82	181	10	sample	sample	NOUN
ajfa-82	181	11	were	be	AUX
ajfa-82	181	12	also	also	ADV
ajfa-82	181	13	divided	divide	VERB
ajfa-82	181	14	according	accord	VERB
ajfa-82	181	15	to	to	ADP
ajfa-82	181	16	net	net	ADJ
ajfa-82	181	17	worth	worth	NOUN
ajfa-82	181	18	into	into	ADP
ajfa-82	181	19	five	five	NUM
ajfa-82	181	20	groups	group	NOUN
ajfa-82	181	21	:	:	PUNCT
ajfa-82	181	22	$	$	SYM
ajfa-82	181	23	0	0	NUM
ajfa-82	181	24	to	to	PART
ajfa-82	181	25	$	$	SYM
ajfa-82	181	26	100,000	100,000	NUM
ajfa-82	181	27	;	;	PUNCT
ajfa-82	181	28	$	$	SYM
ajfa-82	181	29	100,000	100,000	NUM
ajfa-82	181	30	to	to	PART
ajfa-82	181	31	$	$	SYM
ajfa-82	181	32	200,000	200,000	NUM
ajfa-82	181	33	;	;	PUNCT
ajfa-82	181	34	$	$	SYM
ajfa-82	181	35	200,000	200,000	NUM
ajfa-82	181	36	to	to	PART
ajfa-82	181	37	$	$	SYM
ajfa-82	181	38	300,000	300,000	NUM
ajfa-82	181	39	;	;	PUNCT
ajfa-82	181	40	$	$	SYM
ajfa-82	181	41	300,000	300,000	NUM
ajfa-82	181	42	to	to	PART
ajfa-82	181	43	$	$	SYM
ajfa-82	181	44	400,000	400,000	NUM
ajfa-82	181	45	;	;	PUNCT
ajfa-82	181	46	and	and	CCONJ
ajfa-82	181	47	$	$	SYM
ajfa-82	181	48	400,000	400,000	NUM
ajfa-82	181	49	+	+	NOUN
ajfa-82	181	50	.	.	PUNCT
ajfa-82	182	1	the	the	DET
ajfa-82	182	2	percentage	percentage	NOUN
ajfa-82	182	3	of	of	ADP
ajfa-82	182	4	each	each	DET
ajfa-82	182	5	portfolio	portfolio	NOUN
ajfa-82	182	6	devoted	devote	VERB
ajfa-82	182	7	to	to	ADP
ajfa-82	182	8	risky	risky	ADJ
ajfa-82	182	9	assets	asset	NOUN
ajfa-82	182	10	and	and	CCONJ
ajfa-82	182	11	the	the	DET
ajfa-82	182	12	number	number	NOUN
ajfa-82	182	13	of	of	ADP
ajfa-82	182	14	dollars	dollar	NOUN
ajfa-82	182	15	devoted	devote	VERB
ajfa-82	182	16	to	to	ADP
ajfa-82	182	17	risky	risky	ADJ
ajfa-82	182	18	assets	asset	NOUN
ajfa-82	182	19	was	be	AUX
ajfa-82	182	20	then	then	ADV
ajfa-82	182	21	computed	compute	VERB
ajfa-82	182	22	.	.	PUNCT
ajfa-82	183	1	the	the	DET
ajfa-82	183	2	computations	computation	NOUN
ajfa-82	183	3	,	,	PUNCT
ajfa-82	183	4	which	which	PRON
ajfa-82	183	5	form	form	VERB
ajfa-82	183	6	the	the	DET
ajfa-82	183	7	basis	basis	NOUN
ajfa-82	183	8	for	for	ADP
ajfa-82	183	9	the	the	DET
ajfa-82	183	10	statistical	statistical	ADJ
ajfa-82	183	11	tests	test	NOUN
ajfa-82	183	12	,	,	PUNCT
ajfa-82	183	13	are	be	AUX
ajfa-82	183	14	presented	present	VERB
ajfa-82	183	15	in	in	ADP
ajfa-82	183	16	the	the	DET
ajfa-82	183	17	tables	table	NOUN
ajfa-82	183	18	below	below	ADV
ajfa-82	183	19	.	.	PUNCT
ajfa-82	184	1	table	table	NOUN
ajfa-82	184	2	2	2	NUM
ajfa-82	184	3	.	.	PUNCT
ajfa-82	185	1	ratios	ratio	NOUN
ajfa-82	185	2	of	of	ADP
ajfa-82	185	3	risky	risky	ADJ
ajfa-82	185	4	assets	asset	NOUN
ajfa-82	185	5	to	to	PART
ajfa-82	185	6	total	total	VERB
ajfa-82	185	7	portfolio	portfolio	NOUN
ajfa-82	185	8	net	net	PROPN
ajfa-82	185	9	worth	worth	ADJ
ajfa-82	185	10	net	net	ADJ
ajfa-82	185	11	worth	worth	ADJ
ajfa-82	185	12	(	(	PUNCT
ajfa-82	185	13	100	100	NUM
ajfa-82	185	14	portfolios	portfolio	NOUN
ajfa-82	185	15	)	)	PUNCT
ajfa-82	185	16	%	%	NOUN
ajfa-82	185	17	invested	invest	VERB
ajfa-82	185	18	in	in	ADP
ajfa-82	185	19	risky	risky	ADJ
ajfa-82	185	20	assets	asset	NOUN
ajfa-82	185	21	net	net	ADJ
ajfa-82	185	22	worth	worth	ADJ
ajfa-82	185	23	(	(	PUNCT
ajfa-82	185	24	41	41	NUM
ajfa-82	185	25	portfolios	portfolio	NOUN
ajfa-82	185	26	)	)	PUNCT
ajfa-82	185	27	%	%	NOUN
ajfa-82	185	28	invested	invest	VERB
ajfa-82	185	29	in	in	ADP
ajfa-82	185	30	risky	risky	ADJ
ajfa-82	185	31	assets	asset	NOUN
ajfa-82	185	32	$	$	SYM
ajfa-82	185	33	0	0	NUM
ajfa-82	185	34	to	to	ADP
ajfa-82	185	35	$	$	SYM
ajfa-82	185	36	500,000	500,000	NUM
ajfa-82	185	37	87.88	87.88	NUM
ajfa-82	185	38	%	%	NOUN
ajfa-82	185	39	$	$	SYM
ajfa-82	185	40	0	0	NUM
ajfa-82	185	41	to	to	ADP
ajfa-82	185	42	$	$	SYM
ajfa-82	185	43	100,000	100,000	NUM
ajfa-82	185	44	92.3	92.3	NUM
ajfa-82	185	45	%	%	NOUN
ajfa-82	185	46	$	$	SYM
ajfa-82	185	47	500,000	500,000	NUM
ajfa-82	185	48	to	to	PART
ajfa-82	185	49	$	$	SYM
ajfa-82	185	50	1,000,000	1,000,000	NUM
ajfa-82	185	51	90.58	90.58	NUM
ajfa-82	185	52	%	%	NOUN
ajfa-82	185	53	$	$	SYM
ajfa-82	185	54	100,000	100,000	NUM
ajfa-82	185	55	to	to	PART
ajfa-82	185	56	$	$	SYM
ajfa-82	185	57	200,000	200,000	NUM
ajfa-82	185	58	80.6	80.6	NUM
ajfa-82	185	59	%	%	NOUN
ajfa-82	185	60	$	$	SYM
ajfa-82	185	61	1,000,000	1,000,000	NUM
ajfa-82	185	62	to	to	PART
ajfa-82	185	63	$	$	SYM
ajfa-82	185	64	1,500,000	1,500,000	NUM
ajfa-82	185	65	96.09	96.09	NUM
ajfa-82	185	66	%	%	NOUN
ajfa-82	185	67	$	$	SYM
ajfa-82	185	68	200,000	200,000	NUM
ajfa-82	185	69	to	to	PART
ajfa-82	185	70	$	$	SYM
ajfa-82	185	71	300,000	300,000	NUM
ajfa-82	185	72	91.2	91.2	NUM
ajfa-82	185	73	%	%	NOUN
ajfa-82	185	74	$	$	SYM
ajfa-82	185	75	1,500,000	1,500,000	NUM
ajfa-82	185	76	to	to	ADP
ajfa-82	185	77	98.33	98.33	NUM
ajfa-82	185	78	%	%	NOUN
ajfa-82	185	79	$	$	SYM
ajfa-82	185	80	300,000	300,000	NUM
ajfa-82	185	81	to	to	PART
ajfa-82	185	82	73.6	73.6	NUM
ajfa-82	185	83	%	%	NOUN
ajfa-82	185	84	asian	asian	ADJ
ajfa-82	185	85	journal	journal	NOUN
ajfa-82	185	86	of	of	ADP
ajfa-82	185	87	finance	finance	PROPN
ajfa-82	185	88	&	&	CCONJ
ajfa-82	185	89	accounting	accounting	PROPN
ajfa-82	185	90	issn	issn	PROPN
ajfa-82	185	91	1946	1946	NUM
ajfa-82	185	92	-	-	PUNCT
ajfa-82	185	93	052x	052x	NOUN
ajfa-82	185	94	2009	2009	NUM
ajfa-82	185	95	,	,	PUNCT
ajfa-82	185	96	vol	vol	NOUN
ajfa-82	185	97	.	.	PROPN
ajfa-82	185	98	1	1	NUM
ajfa-82	185	99	,	,	PUNCT
ajfa-82	185	100	no	no	INTJ
ajfa-82	185	101	.	.	NOUN
ajfa-82	185	102	1	1	NUM
ajfa-82	185	103	:	:	PUNCT
ajfa-82	185	104	e1	e1	VERB
ajfa-82	185	105	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	185	106	65	65	NUM
ajfa-82	185	107	$	$	SYM
ajfa-82	185	108	2,000,000	2,000,000	NUM
ajfa-82	185	109	$	$	SYM
ajfa-82	185	110	400,000	400,000	NUM
ajfa-82	185	111	$	$	SYM
ajfa-82	185	112	2,000,000	2,000,000	NUM
ajfa-82	185	113	+	+	NUM
ajfa-82	185	114	88.22	88.22	NUM
ajfa-82	185	115	%	%	NOUN
ajfa-82	185	116	$	$	SYM
ajfa-82	185	117	400,000	400,000	NUM
ajfa-82	185	118	+	+	NUM
ajfa-82	185	119	69.7	69.7	NUM
ajfa-82	185	120	%	%	NOUN
ajfa-82	185	121	table	table	NOUN
ajfa-82	185	122	3	3	NUM
ajfa-82	185	123	.	.	PUNCT
ajfa-82	185	124	average	average	ADJ
ajfa-82	185	125	dollars	dollar	NOUN
ajfa-82	185	126	invested	invest	VERB
ajfa-82	185	127	in	in	ADP
ajfa-82	185	128	risky	risky	ADJ
ajfa-82	185	129	assets	asset	NOUN
ajfa-82	185	130	net	net	ADJ
ajfa-82	185	131	worth	worth	ADJ
ajfa-82	185	132	(	(	PUNCT
ajfa-82	185	133	100	100	NUM
ajfa-82	185	134	portfolios	portfolio	NOUN
ajfa-82	185	135	)	)	PUNCT
ajfa-82	185	136	$	$	SYM
ajfa-82	185	137	invested	invest	VERB
ajfa-82	185	138	in	in	ADP
ajfa-82	185	139	risky	risky	ADJ
ajfa-82	185	140	assets	asset	NOUN
ajfa-82	185	141	net	net	ADJ
ajfa-82	185	142	worth	worth	ADJ
ajfa-82	185	143	(	(	PUNCT
ajfa-82	185	144	41	41	NUM
ajfa-82	185	145	portfolios	portfolio	NOUN
ajfa-82	185	146	)	)	PUNCT
ajfa-82	185	147	$	$	SYM
ajfa-82	185	148	invested	invest	VERB
ajfa-82	185	149	in	in	ADP
ajfa-82	185	150	risky	risky	ADJ
ajfa-82	185	151	assets	asset	NOUN
ajfa-82	185	152	$	$	SYM
ajfa-82	185	153	0	0	NUM
ajfa-82	185	154	to	to	ADP
ajfa-82	185	155	$	$	SYM
ajfa-82	185	156	500,000	500,000	NUM
ajfa-82	185	157	$	$	SYM
ajfa-82	185	158	260,289	260,289	NUM
ajfa-82	185	159	$	$	SYM
ajfa-82	185	160	0	0	NUM
ajfa-82	185	161	to	to	ADP
ajfa-82	185	162	$	$	SYM
ajfa-82	185	163	100,000	100,000	NUM
ajfa-82	185	164	$	$	SYM
ajfa-82	185	165	55,574	55,574	NUM
ajfa-82	185	166	$	$	SYM
ajfa-82	185	167	500,000	500,000	NUM
ajfa-82	185	168	to	to	PART
ajfa-82	185	169	$	$	SYM
ajfa-82	185	170	1,000,000	1,000,000	NUM
ajfa-82	185	171	$	$	SYM
ajfa-82	185	172	623,325	623,325	NUM
ajfa-82	185	173	$	$	SYM
ajfa-82	185	174	100,00	100,00	NUM
ajfa-82	185	175	to	to	ADP
ajfa-82	185	176	$	$	SYM
ajfa-82	185	177	200,000	200,000	NUM
ajfa-82	185	178	$	$	SYM
ajfa-82	185	179	154,873	154,873	NUM
ajfa-82	185	180	$	$	SYM
ajfa-82	185	181	1,000,000	1,000,000	NUM
ajfa-82	185	182	to	to	PART
ajfa-82	185	183	$	$	SYM
ajfa-82	185	184	1,500,000	1,500,000	NUM
ajfa-82	185	185	$	$	SYM
ajfa-82	185	186	1,185,128	1,185,128	NUM
ajfa-82	185	187	$	$	SYM
ajfa-82	185	188	200,000	200,000	NUM
ajfa-82	185	189	to	to	PART
ajfa-82	185	190	$	$	SYM
ajfa-82	185	191	300,000	300,000	NUM
ajfa-82	185	192	$	$	SYM
ajfa-82	185	193	221,337	221,337	NUM
ajfa-82	185	194	$	$	SYM
ajfa-82	185	195	1,500,000	1,500,000	NUM
ajfa-82	185	196	to	to	PART
ajfa-82	185	197	$	$	SYM
ajfa-82	185	198	2,000,000	2,000,000	NUM
ajfa-82	185	199	$	$	SYM
ajfa-82	185	200	1,645,347	1,645,347	NUM
ajfa-82	185	201	$	$	SYM
ajfa-82	185	202	300,000	300,000	NUM
ajfa-82	185	203	to	to	PART
ajfa-82	185	204	$	$	SYM
ajfa-82	185	205	400,000	400,000	NUM
ajfa-82	185	206	$	$	SYM
ajfa-82	185	207	241,491	241,491	NUM
ajfa-82	185	208	$	$	SYM
ajfa-82	185	209	2,000,000	2,000,000	NUM
ajfa-82	185	210	+	+	CCONJ
ajfa-82	185	211	$	$	SYM
ajfa-82	185	212	2,205,564	2,205,564	NUM
ajfa-82	185	213	$	$	SYM
ajfa-82	185	214	400,000	400,000	NUM
ajfa-82	185	215	+	+	CCONJ
ajfa-82	185	216	$	$	SYM
ajfa-82	185	217	443,540	443,540	NUM
ajfa-82	185	218	casual	casual	ADJ
ajfa-82	185	219	investigation	investigation	NOUN
ajfa-82	185	220	of	of	ADP
ajfa-82	185	221	the	the	DET
ajfa-82	185	222	data	datum	NOUN
ajfa-82	185	223	presented	present	VERB
ajfa-82	185	224	in	in	ADP
ajfa-82	185	225	tables	table	NOUN
ajfa-82	185	226	2	2	NUM
ajfa-82	185	227	and	and	CCONJ
ajfa-82	185	228	3	3	NUM
ajfa-82	185	229	suggests	suggest	VERB
ajfa-82	185	230	two	two	NUM
ajfa-82	185	231	things	thing	NOUN
ajfa-82	185	232	.	.	PUNCT
ajfa-82	186	1	first	first	ADV
ajfa-82	186	2	,	,	PUNCT
ajfa-82	186	3	the	the	DET
ajfa-82	186	4	proportion	proportion	NOUN
ajfa-82	186	5	of	of	ADP
ajfa-82	186	6	total	total	ADJ
ajfa-82	186	7	portfolio	portfolio	NOUN
ajfa-82	186	8	net	net	ADJ
ajfa-82	186	9	worth	worth	NOUN
ajfa-82	186	10	invested	invest	VERB
ajfa-82	186	11	in	in	ADP
ajfa-82	186	12	risky	risky	ADJ
ajfa-82	186	13	assets	asset	NOUN
ajfa-82	186	14	does	do	AUX
ajfa-82	186	15	not	not	PART
ajfa-82	186	16	appear	appear	VERB
ajfa-82	186	17	to	to	PART
ajfa-82	186	18	exhibit	exhibit	VERB
ajfa-82	186	19	a	a	DET
ajfa-82	186	20	stable	stable	ADJ
ajfa-82	186	21	relationship	relationship	NOUN
ajfa-82	186	22	with	with	ADP
ajfa-82	186	23	total	total	ADJ
ajfa-82	186	24	portfolio	portfolio	NOUN
ajfa-82	186	25	net	net	ADJ
ajfa-82	186	26	worth	worth	NOUN
ajfa-82	186	27	.	.	PUNCT
ajfa-82	187	1	those	those	DET
ajfa-82	187	2	smsf	smsf	PROPN
ajfa-82	187	3	trustees	trustee	NOUN
ajfa-82	187	4	with	with	ADP
ajfa-82	187	5	a	a	DET
ajfa-82	187	6	portfolio	portfolio	NOUN
ajfa-82	187	7	net	net	ADJ
ajfa-82	187	8	worth	worth	NOUN
ajfa-82	187	9	in	in	ADP
ajfa-82	187	10	the	the	DET
ajfa-82	187	11	third	third	ADJ
ajfa-82	187	12	bracket	bracket	NOUN
ajfa-82	187	13	of	of	ADP
ajfa-82	187	14	our	our	PRON
ajfa-82	187	15	cut	cut	NOUN
ajfa-82	187	16	-	-	PUNCT
ajfa-82	187	17	offs	off	NOUN
ajfa-82	187	18	,	,	PUNCT
ajfa-82	187	19	$	$	SYM
ajfa-82	187	20	1,000,000	1,000,000	NUM
ajfa-82	187	21	to	to	PART
ajfa-82	187	22	$	$	SYM
ajfa-82	187	23	1,500,000	1,500,000	NUM
ajfa-82	187	24	and	and	CCONJ
ajfa-82	187	25	$	$	SYM
ajfa-82	187	26	200,000	200,000	NUM
ajfa-82	187	27	to	to	PART
ajfa-82	187	28	$	$	SYM
ajfa-82	187	29	300,000	300,000	NUM
ajfa-82	187	30	,	,	PUNCT
ajfa-82	187	31	invested	invest	VERB
ajfa-82	187	32	a	a	DET
ajfa-82	187	33	higher	high	ADJ
ajfa-82	187	34	percentage	percentage	NOUN
ajfa-82	187	35	of	of	ADP
ajfa-82	187	36	total	total	ADJ
ajfa-82	187	37	portfolio	portfolio	NOUN
ajfa-82	187	38	net	net	ADJ
ajfa-82	187	39	worth	worth	NOUN
ajfa-82	187	40	in	in	ADP
ajfa-82	187	41	risky	risky	ADJ
ajfa-82	187	42	assets	asset	NOUN
ajfa-82	187	43	than	than	ADP
ajfa-82	187	44	those	those	DET
ajfa-82	187	45	smsf	smsf	PROPN
ajfa-82	187	46	trustees	trustee	NOUN
ajfa-82	187	47	whose	whose	DET
ajfa-82	187	48	portfolio	portfolio	NOUN
ajfa-82	187	49	net	net	ADJ
ajfa-82	187	50	worth	worth	NOUN
ajfa-82	187	51	was	be	AUX
ajfa-82	187	52	located	locate	VERB
ajfa-82	187	53	in	in	ADP
ajfa-82	187	54	the	the	DET
ajfa-82	187	55	second	second	ADJ
ajfa-82	187	56	bracket	bracket	NOUN
ajfa-82	187	57	of	of	ADP
ajfa-82	187	58	our	our	PRON
ajfa-82	187	59	cut	cut	NOUN
ajfa-82	187	60	-	-	PUNCT
ajfa-82	187	61	offs	off	NOUN
ajfa-82	187	62	,	,	PUNCT
ajfa-82	187	63	$	$	SYM
ajfa-82	187	64	500,000	500,000	NUM
ajfa-82	187	65	to	to	PART
ajfa-82	187	66	$	$	SYM
ajfa-82	187	67	1,000,000	1,000,000	NUM
ajfa-82	187	68	and	and	CCONJ
ajfa-82	187	69	$	$	SYM
ajfa-82	187	70	100,000	100,000	NUM
ajfa-82	187	71	to	to	PART
ajfa-82	187	72	$	$	SYM
ajfa-82	187	73	200,000	200,000	NUM
ajfa-82	187	74	.	.	PUNCT
ajfa-82	188	1	however	however	ADV
ajfa-82	188	2	,	,	PUNCT
ajfa-82	188	3	the	the	DET
ajfa-82	188	4	smsfs	smsfs	NOUN
ajfa-82	188	5	in	in	ADP
ajfa-82	188	6	the	the	DET
ajfa-82	188	7	highest	high	ADJ
ajfa-82	188	8	net	net	ADJ
ajfa-82	188	9	worth	worth	ADJ
ajfa-82	188	10	category	category	NOUN
ajfa-82	188	11	invested	invest	VERB
ajfa-82	188	12	a	a	DET
ajfa-82	188	13	lower	low	ADJ
ajfa-82	188	14	amount	amount	NOUN
ajfa-82	188	15	in	in	ADP
ajfa-82	188	16	risky	risky	ADJ
ajfa-82	188	17	assets	asset	NOUN
ajfa-82	188	18	than	than	ADP
ajfa-82	188	19	funds	fund	NOUN
ajfa-82	188	20	in	in	ADP
ajfa-82	188	21	some	some	PRON
ajfa-82	188	22	of	of	ADP
ajfa-82	188	23	the	the	DET
ajfa-82	188	24	lower	low	ADJ
ajfa-82	188	25	net	net	ADJ
ajfa-82	188	26	worth	worth	ADJ
ajfa-82	188	27	categories	category	NOUN
ajfa-82	188	28	.	.	PUNCT
ajfa-82	189	1	second	second	ADJ
ajfa-82	189	2	,	,	PUNCT
ajfa-82	189	3	in	in	ADP
ajfa-82	189	4	both	both	DET
ajfa-82	189	5	sub	sub	NOUN
ajfa-82	189	6	-	-	NOUN
ajfa-82	189	7	samples	sample	NOUN
ajfa-82	189	8	the	the	DET
ajfa-82	189	9	dollars	dollar	NOUN
ajfa-82	189	10	invested	invest	VERB
ajfa-82	189	11	in	in	ADP
ajfa-82	189	12	risky	risky	ADJ
ajfa-82	189	13	assets	asset	NOUN
ajfa-82	189	14	increases	increase	NOUN
ajfa-82	189	15	as	as	ADP
ajfa-82	189	16	portfolio	portfolio	NOUN
ajfa-82	189	17	net	net	ADJ
ajfa-82	189	18	worth	worth	ADJ
ajfa-82	189	19	increases	increase	NOUN
ajfa-82	189	20	.	.	PUNCT
ajfa-82	190	1	this	this	PRON
ajfa-82	190	2	is	be	AUX
ajfa-82	190	3	a	a	DET
ajfa-82	190	4	consistent	consistent	ADJ
ajfa-82	190	5	pattern	pattern	NOUN
ajfa-82	190	6	across	across	ADP
ajfa-82	190	7	the	the	DET
ajfa-82	190	8	entire	entire	ADJ
ajfa-82	190	9	range	range	NOUN
ajfa-82	190	10	of	of	ADP
ajfa-82	190	11	portfolio	portfolio	NOUN
ajfa-82	190	12	net	net	ADJ
ajfa-82	190	13	worth	worth	ADJ
ajfa-82	190	14	categories	category	NOUN
ajfa-82	190	15	and	and	CCONJ
ajfa-82	190	16	both	both	DET
ajfa-82	190	17	sub	sub	NOUN
ajfa-82	190	18	-	-	NOUN
ajfa-82	190	19	samples	sample	NOUN
ajfa-82	190	20	but	but	CCONJ
ajfa-82	190	21	is	be	AUX
ajfa-82	190	22	not	not	PART
ajfa-82	190	23	particularly	particularly	ADV
ajfa-82	190	24	surprising	surprising	ADJ
ajfa-82	190	25	.	.	PUNCT
ajfa-82	191	1	it	it	PRON
ajfa-82	191	2	is	be	AUX
ajfa-82	191	3	,	,	PUNCT
ajfa-82	191	4	after	after	ADV
ajfa-82	191	5	all	all	ADV
ajfa-82	191	6	,	,	PUNCT
ajfa-82	191	7	to	to	PART
ajfa-82	191	8	be	be	AUX
ajfa-82	191	9	expected	expect	VERB
ajfa-82	191	10	that	that	SCONJ
ajfa-82	191	11	a	a	DET
ajfa-82	191	12	very	very	ADV
ajfa-82	191	13	large	large	ADJ
ajfa-82	191	14	portfolio	portfolio	NOUN
ajfa-82	191	15	may	may	AUX
ajfa-82	191	16	have	have	VERB
ajfa-82	191	17	a	a	DET
ajfa-82	191	18	larger	large	ADJ
ajfa-82	191	19	dollar	dollar	NOUN
ajfa-82	191	20	amount	amount	NOUN
ajfa-82	191	21	invested	invest	VERB
ajfa-82	191	22	in	in	ADP
ajfa-82	191	23	all	all	DET
ajfa-82	191	24	asset	asset	NOUN
ajfa-82	191	25	classes	class	NOUN
ajfa-82	191	26	than	than	ADP
ajfa-82	191	27	a	a	DET
ajfa-82	191	28	very	very	ADV
ajfa-82	191	29	small	small	ADJ
ajfa-82	191	30	portfolio	portfolio	NOUN
ajfa-82	191	31	.	.	PUNCT
ajfa-82	192	1	in	in	ADP
ajfa-82	192	2	order	order	NOUN
ajfa-82	192	3	to	to	PART
ajfa-82	192	4	investigate	investigate	VERB
ajfa-82	192	5	the	the	DET
ajfa-82	192	6	relatedness	relatedness	NOUN
ajfa-82	192	7	of	of	ADP
ajfa-82	192	8	the	the	DET
ajfa-82	192	9	proportion	proportion	NOUN
ajfa-82	192	10	of	of	ADP
ajfa-82	192	11	total	total	ADJ
ajfa-82	192	12	portfolio	portfolio	NOUN
ajfa-82	192	13	net	net	ADJ
ajfa-82	192	14	worth	worth	NOUN
ajfa-82	192	15	invested	invest	VERB
ajfa-82	192	16	in	in	ADP
ajfa-82	192	17	risky	risky	ADJ
ajfa-82	192	18	assets	asset	NOUN
ajfa-82	192	19	and	and	CCONJ
ajfa-82	192	20	total	total	ADJ
ajfa-82	192	21	portfolio	portfolio	NOUN
ajfa-82	192	22	net	net	ADJ
ajfa-82	192	23	worth	worth	NOUN
ajfa-82	192	24	,	,	PUNCT
ajfa-82	192	25	a	a	DET
ajfa-82	192	26	cross	cross	ADJ
ajfa-82	192	27	-	-	ADJ
ajfa-82	192	28	classification	classification	ADJ
ajfa-82	192	29	analysis	analysis	NOUN
ajfa-82	192	30	is	be	AUX
ajfa-82	192	31	undertaken	undertake	VERB
ajfa-82	192	32	.	.	PUNCT
ajfa-82	193	1	a	a	DET
ajfa-82	193	2	cross	cross	ADJ
ajfa-82	193	3	-	-	ADJ
ajfa-82	193	4	classification	classification	ADJ
ajfa-82	193	5	,	,	PUNCT
ajfa-82	193	6	cross	cross	NOUN
ajfa-82	193	7	-	-	NOUN
ajfa-82	193	8	tabulation	tabulation	NOUN
ajfa-82	193	9	or	or	CCONJ
ajfa-82	193	10	contingency	contingency	NOUN
ajfa-82	193	11	analysis	analysis	NOUN
ajfa-82	193	12	is	be	AUX
ajfa-82	193	13	a	a	DET
ajfa-82	193	14	non	non	ADJ
ajfa-82	193	15	-	-	ADJ
ajfa-82	193	16	parametric	parametric	ADJ
ajfa-82	193	17	asian	asian	ADJ
ajfa-82	193	18	journal	journal	NOUN
ajfa-82	193	19	of	of	ADP
ajfa-82	193	20	finance	finance	PROPN
ajfa-82	193	21	&	&	CCONJ
ajfa-82	193	22	accounting	accounting	PROPN
ajfa-82	193	23	issn	issn	PROPN
ajfa-82	193	24	1946	1946	NUM
ajfa-82	193	25	-	-	PUNCT
ajfa-82	193	26	052x	052x	NOUN
ajfa-82	193	27	2009	2009	NUM
ajfa-82	193	28	,	,	PUNCT
ajfa-82	193	29	vol	vol	NOUN
ajfa-82	193	30	.	.	PROPN
ajfa-82	194	1	1	1	NUM
ajfa-82	194	2	,	,	PUNCT
ajfa-82	194	3	no	no	INTJ
ajfa-82	194	4	.	.	NOUN
ajfa-82	194	5	1	1	NUM
ajfa-82	194	6	:	:	PUNCT
ajfa-82	194	7	e1	e1	VERB
ajfa-82	194	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	194	9	66	66	NUM
ajfa-82	194	10	methodology	methodology	NOUN
ajfa-82	194	11	that	that	PRON
ajfa-82	194	12	permits	permit	VERB
ajfa-82	194	13	the	the	DET
ajfa-82	194	14	investigation	investigation	NOUN
ajfa-82	194	15	of	of	ADP
ajfa-82	194	16	the	the	DET
ajfa-82	194	17	relationship	relationship	NOUN
ajfa-82	194	18	between	between	ADP
ajfa-82	194	19	variables	variable	NOUN
ajfa-82	194	20	when	when	SCONJ
ajfa-82	194	21	one	one	NUM
ajfa-82	194	22	or	or	CCONJ
ajfa-82	194	23	both	both	PRON
ajfa-82	194	24	of	of	ADP
ajfa-82	194	25	the	the	DET
ajfa-82	194	26	variables	variable	NOUN
ajfa-82	194	27	is	be	AUX
ajfa-82	194	28	categorical	categorical	ADJ
ajfa-82	194	29	in	in	ADP
ajfa-82	194	30	nature	nature	NOUN
ajfa-82	194	31	with	with	ADP
ajfa-82	194	32	a	a	DET
ajfa-82	194	33	nominal	nominal	ADJ
ajfa-82	194	34	or	or	CCONJ
ajfa-82	194	35	ordinal	ordinal	ADJ
ajfa-82	194	36	scale	scale	NOUN
ajfa-82	194	37	(	(	PUNCT
ajfa-82	194	38	see	see	VERB
ajfa-82	194	39	,	,	PUNCT
ajfa-82	194	40	for	for	ADP
ajfa-82	194	41	example	example	NOUN
ajfa-82	194	42	,	,	PUNCT
ajfa-82	194	43	sheskin	sheskin	NOUN
ajfa-82	194	44	(	(	PUNCT
ajfa-82	194	45	2000	2000	NUM
ajfa-82	194	46	)	)	PUNCT
ajfa-82	194	47	)	)	PUNCT
ajfa-82	194	48	.	.	PUNCT
ajfa-82	195	1	a	a	DET
ajfa-82	195	2	cross	cross	ADJ
ajfa-82	195	3	-	-	ADJ
ajfa-82	195	4	classification	classification	ADJ
ajfa-82	195	5	analysis	analysis	NOUN
ajfa-82	195	6	is	be	AUX
ajfa-82	195	7	a	a	DET
ajfa-82	195	8	simple	simple	ADJ
ajfa-82	195	9	statistical	statistical	ADJ
ajfa-82	195	10	technique	technique	NOUN
ajfa-82	195	11	with	with	ADP
ajfa-82	195	12	few	few	ADJ
ajfa-82	195	13	underlying	underlying	ADJ
ajfa-82	195	14	assumptions	assumption	NOUN
ajfa-82	195	15	5	5	NUM
ajfa-82	195	16	that	that	PRON
ajfa-82	195	17	permits	permit	VERB
ajfa-82	195	18	the	the	DET
ajfa-82	195	19	detection	detection	NOUN
ajfa-82	195	20	a	a	DET
ajfa-82	195	21	relationship	relationship	NOUN
ajfa-82	195	22	or	or	CCONJ
ajfa-82	195	23	association	association	NOUN
ajfa-82	195	24	between	between	ADP
ajfa-82	195	25	two	two	NUM
ajfa-82	195	26	variables	variable	NOUN
ajfa-82	195	27	.	.	PUNCT
ajfa-82	196	1	it	it	PRON
ajfa-82	196	2	is	be	AUX
ajfa-82	196	3	particularly	particularly	ADV
ajfa-82	196	4	well	well	ADV
ajfa-82	196	5	suited	suited	ADJ
ajfa-82	196	6	to	to	ADP
ajfa-82	196	7	this	this	DET
ajfa-82	196	8	investigation	investigation	NOUN
ajfa-82	196	9	because	because	SCONJ
ajfa-82	196	10	there	there	PRON
ajfa-82	196	11	is	be	VERB
ajfa-82	196	12	a	a	DET
ajfa-82	196	13	strong	strong	ADJ
ajfa-82	196	14	likelihood	likelihood	NOUN
ajfa-82	196	15	that	that	SCONJ
ajfa-82	196	16	the	the	DET
ajfa-82	196	17	variables	variable	NOUN
ajfa-82	196	18	are	be	AUX
ajfa-82	196	19	non	non	ADJ
ajfa-82	196	20	-	-	ADJ
ajfa-82	196	21	normally	normally	ADV
ajfa-82	196	22	distributed	distribute	VERB
ajfa-82	196	23	(	(	PUNCT
ajfa-82	196	24	see	see	VERB
ajfa-82	196	25	smith	smith	PROPN
ajfa-82	196	26	(	(	PUNCT
ajfa-82	196	27	1975	1975	NUM
ajfa-82	196	28	)	)	PUNCT
ajfa-82	196	29	)	)	PUNCT
ajfa-82	196	30	.	.	PUNCT
ajfa-82	197	1	indeed	indeed	ADV
ajfa-82	197	2	,	,	PUNCT
ajfa-82	197	3	when	when	SCONJ
ajfa-82	197	4	regression	regression	NOUN
ajfa-82	197	5	analysis	analysis	NOUN
ajfa-82	197	6	is	be	AUX
ajfa-82	197	7	attempted	attempt	VERB
ajfa-82	197	8	,	,	PUNCT
ajfa-82	197	9	it	it	PRON
ajfa-82	197	10	quickly	quickly	ADV
ajfa-82	197	11	becomes	become	VERB
ajfa-82	197	12	clear	clear	ADJ
ajfa-82	197	13	that	that	SCONJ
ajfa-82	197	14	the	the	DET
ajfa-82	197	15	variables	variable	NOUN
ajfa-82	197	16	(	(	PUNCT
ajfa-82	197	17	portfolio	portfolio	NOUN
ajfa-82	197	18	size	size	NOUN
ajfa-82	197	19	and	and	CCONJ
ajfa-82	197	20	percentage	percentage	NOUN
ajfa-82	197	21	allocations	allocation	NOUN
ajfa-82	197	22	to	to	ADP
ajfa-82	197	23	particular	particular	ADJ
ajfa-82	197	24	asset	asset	NOUN
ajfa-82	197	25	classes	class	NOUN
ajfa-82	197	26	)	)	PUNCT
ajfa-82	197	27	are	be	AUX
ajfa-82	197	28	not	not	PART
ajfa-82	197	29	normally	normally	ADV
ajfa-82	197	30	distributed	distribute	VERB
ajfa-82	197	31	.	.	PUNCT
ajfa-82	198	1	a	a	DET
ajfa-82	198	2	non	non	ADJ
ajfa-82	198	3	-	-	ADJ
ajfa-82	198	4	parametric	parametric	ADJ
ajfa-82	198	5	methodology	methodology	NOUN
ajfa-82	198	6	is	be	AUX
ajfa-82	198	7	therefore	therefore	ADV
ajfa-82	198	8	desirable	desirable	ADJ
ajfa-82	198	9	.	.	PUNCT
ajfa-82	199	1	the	the	DET
ajfa-82	199	2	cross	cross	ADJ
ajfa-82	199	3	-	-	ADJ
ajfa-82	199	4	classification	classification	ADJ
ajfa-82	199	5	analysis	analysis	NOUN
ajfa-82	199	6	undertaken	undertake	VERB
ajfa-82	199	7	here	here	ADV
ajfa-82	199	8	is	be	AUX
ajfa-82	199	9	essentially	essentially	ADV
ajfa-82	199	10	the	the	DET
ajfa-82	199	11	same	same	ADJ
ajfa-82	199	12	as	as	ADP
ajfa-82	199	13	the	the	DET
ajfa-82	199	14	test	test	NOUN
ajfa-82	199	15	deployed	deploy	VERB
ajfa-82	199	16	by	by	ADP
ajfa-82	199	17	cohn	cohn	PROPN
ajfa-82	199	18	et	et	PROPN
ajfa-82	199	19	al	al	PROPN
ajfa-82	199	20	.	.	PROPN
ajfa-82	200	1	(	(	PUNCT
ajfa-82	200	2	1975	1975	NUM
ajfa-82	200	3	)	)	PUNCT
ajfa-82	201	1	and	and	CCONJ
ajfa-82	201	2	therefore	therefore	ADV
ajfa-82	201	3	has	have	VERB
ajfa-82	201	4	a	a	DET
ajfa-82	201	5	history	history	NOUN
ajfa-82	201	6	of	of	ADP
ajfa-82	201	7	being	be	AUX
ajfa-82	201	8	utilised	utilise	VERB
ajfa-82	201	9	in	in	ADP
ajfa-82	201	10	this	this	DET
ajfa-82	201	11	sort	sort	NOUN
ajfa-82	201	12	of	of	ADP
ajfa-82	201	13	investigation	investigation	NOUN
ajfa-82	201	14	.	.	PUNCT
ajfa-82	202	1	to	to	PART
ajfa-82	202	2	undertake	undertake	VERB
ajfa-82	202	3	a	a	DET
ajfa-82	202	4	cross	cross	ADJ
ajfa-82	202	5	-	-	ADJ
ajfa-82	202	6	classification	classification	ADJ
ajfa-82	202	7	analysis	analysis	NOUN
ajfa-82	202	8	,	,	PUNCT
ajfa-82	202	9	the	the	DET
ajfa-82	202	10	data	datum	NOUN
ajfa-82	202	11	must	must	AUX
ajfa-82	202	12	be	be	AUX
ajfa-82	202	13	tabulated	tabulate	VERB
ajfa-82	202	14	in	in	ADP
ajfa-82	202	15	contingency	contingency	NOUN
ajfa-82	202	16	tables	table	NOUN
ajfa-82	202	17	.	.	PUNCT
ajfa-82	203	1	in	in	ADP
ajfa-82	203	2	the	the	DET
ajfa-82	203	3	table	table	NOUN
ajfa-82	203	4	below	below	ADV
ajfa-82	203	5	,	,	PUNCT
ajfa-82	203	6	the	the	DET
ajfa-82	203	7	table‟s	table‟s	NOUN
ajfa-82	203	8	variables	variable	NOUN
ajfa-82	203	9	are	be	AUX
ajfa-82	203	10	(	(	PUNCT
ajfa-82	203	11	1	1	X
ajfa-82	203	12	)	)	PUNCT
ajfa-82	203	13	categories	category	NOUN
ajfa-82	203	14	of	of	ADP
ajfa-82	203	15	portfolio	portfolio	NOUN
ajfa-82	203	16	net	net	ADJ
ajfa-82	203	17	worth	worth	NOUN
ajfa-82	203	18	;	;	PUNCT
ajfa-82	203	19	and	and	CCONJ
ajfa-82	203	20	(	(	PUNCT
ajfa-82	203	21	2	2	X
ajfa-82	203	22	)	)	PUNCT
ajfa-82	203	23	percentage	percentage	NOUN
ajfa-82	203	24	invested	invest	VERB
ajfa-82	203	25	in	in	ADP
ajfa-82	203	26	risky	risky	ADJ
ajfa-82	203	27	assets	asset	NOUN
ajfa-82	203	28	.	.	PUNCT
ajfa-82	204	1	each	each	DET
ajfa-82	204	2	cell	cell	NOUN
ajfa-82	204	3	of	of	ADP
ajfa-82	204	4	a	a	DET
ajfa-82	204	5	contingency	contingency	NOUN
ajfa-82	204	6	table	table	NOUN
ajfa-82	204	7	represents	represent	VERB
ajfa-82	204	8	a	a	DET
ajfa-82	204	9	unique	unique	ADJ
ajfa-82	204	10	combination	combination	NOUN
ajfa-82	204	11	of	of	ADP
ajfa-82	204	12	the	the	DET
ajfa-82	204	13	variables	variable	NOUN
ajfa-82	204	14	.	.	PUNCT
ajfa-82	205	1	for	for	ADP
ajfa-82	205	2	example	example	NOUN
ajfa-82	205	3	,	,	PUNCT
ajfa-82	205	4	the	the	DET
ajfa-82	205	5	first	first	ADJ
ajfa-82	205	6	cell	cell	NOUN
ajfa-82	205	7	in	in	ADP
ajfa-82	205	8	table	table	NOUN
ajfa-82	205	9	4	4	NUM
ajfa-82	205	10	(	(	PUNCT
ajfa-82	205	11	below	below	ADV
ajfa-82	205	12	)	)	PUNCT
ajfa-82	205	13	represents	represent	VERB
ajfa-82	205	14	portfolios	portfolio	NOUN
ajfa-82	205	15	with	with	ADP
ajfa-82	205	16	a	a	DET
ajfa-82	205	17	net	net	ADJ
ajfa-82	205	18	worth	worth	NOUN
ajfa-82	205	19	of	of	ADP
ajfa-82	205	20	between	between	ADP
ajfa-82	205	21	$	$	SYM
ajfa-82	205	22	0	0	NUM
ajfa-82	205	23	and	and	CCONJ
ajfa-82	205	24	$	$	SYM
ajfa-82	205	25	100,000	100,000	NUM
ajfa-82	205	26	and	and	CCONJ
ajfa-82	205	27	0	0	NUM
ajfa-82	205	28	%	%	NOUN
ajfa-82	205	29	to	to	PART
ajfa-82	205	30	40	40	NUM
ajfa-82	205	31	%	%	NOUN
ajfa-82	205	32	invested	invest	VERB
ajfa-82	205	33	in	in	ADP
ajfa-82	205	34	risky	risky	ADJ
ajfa-82	205	35	assets	asset	NOUN
ajfa-82	205	36	.	.	PUNCT
ajfa-82	206	1	the	the	DET
ajfa-82	206	2	contingency	contingency	NOUN
ajfa-82	206	3	tables	table	NOUN
ajfa-82	206	4	are	be	AUX
ajfa-82	206	5	frequency	frequency	NOUN
ajfa-82	206	6	tables	table	NOUN
ajfa-82	206	7	in	in	ADP
ajfa-82	206	8	the	the	DET
ajfa-82	206	9	sense	sense	NOUN
ajfa-82	206	10	that	that	SCONJ
ajfa-82	206	11	each	each	DET
ajfa-82	206	12	cell	cell	NOUN
ajfa-82	206	13	of	of	ADP
ajfa-82	206	14	the	the	DET
ajfa-82	206	15	table	table	NOUN
ajfa-82	206	16	represents	represent	VERB
ajfa-82	206	17	the	the	DET
ajfa-82	206	18	frequency	frequency	NOUN
ajfa-82	206	19	of	of	ADP
ajfa-82	206	20	observations	observation	NOUN
ajfa-82	206	21	associated	associate	VERB
ajfa-82	206	22	with	with	ADP
ajfa-82	206	23	that	that	DET
ajfa-82	206	24	combination	combination	NOUN
ajfa-82	206	25	of	of	ADP
ajfa-82	206	26	variables	variable	NOUN
ajfa-82	206	27	.	.	PUNCT
ajfa-82	207	1	the	the	DET
ajfa-82	207	2	analysis	analysis	NOUN
ajfa-82	207	3	of	of	ADP
ajfa-82	207	4	these	these	DET
ajfa-82	207	5	frequencies	frequency	NOUN
ajfa-82	207	6	permits	permit	VERB
ajfa-82	207	7	the	the	DET
ajfa-82	207	8	identification	identification	NOUN
ajfa-82	207	9	of	of	ADP
ajfa-82	207	10	the	the	DET
ajfa-82	207	11	presence	presence	NOUN
ajfa-82	207	12	or	or	CCONJ
ajfa-82	207	13	absence	absence	NOUN
ajfa-82	207	14	of	of	ADP
ajfa-82	207	15	a	a	DET
ajfa-82	207	16	relationship	relationship	NOUN
ajfa-82	207	17	between	between	ADP
ajfa-82	207	18	the	the	DET
ajfa-82	207	19	two	two	NUM
ajfa-82	207	20	variables	variable	NOUN
ajfa-82	207	21	.	.	PUNCT
ajfa-82	208	1	the	the	DET
ajfa-82	208	2	relevant	relevant	ADJ
ajfa-82	208	3	test	test	NOUN
ajfa-82	208	4	statistic	statistic	NOUN
ajfa-82	208	5	is	be	AUX
ajfa-82	208	6	pearson‟s	pearson‟s	NUM
ajfa-82	208	7	chi	chi	ADJ
ajfa-82	208	8	-	-	PUNCT
ajfa-82	208	9	square	square	ADJ
ajfa-82	208	10	statistic	statistic	NOUN
ajfa-82	208	11	.	.	PUNCT
ajfa-82	209	1	table	table	NOUN
ajfa-82	209	2	4	4	NUM
ajfa-82	209	3	.	.	PUNCT
ajfa-82	209	4	percentage	percentage	NOUN
ajfa-82	209	5	of	of	ADP
ajfa-82	209	6	portfolio	portfolio	NOUN
ajfa-82	209	7	in	in	ADP
ajfa-82	209	8	risky	risky	ADJ
ajfa-82	209	9	assets	asset	NOUN
ajfa-82	209	10	vs	vs	ADP
ajfa-82	209	11	portfolio	portfolio	NOUN
ajfa-82	209	12	net	net	ADJ
ajfa-82	209	13	worth	worth	NOUN
ajfa-82	209	14	(	(	PUNCT
ajfa-82	209	15	cross	cross	ADJ
ajfa-82	209	16	-	-	ADJ
ajfa-82	209	17	classification	classification	ADJ
ajfa-82	209	18	analysis	analysis	NOUN
ajfa-82	209	19	)	)	PUNCT
ajfa-82	209	20	portfolio	portfolio	NOUN
ajfa-82	209	21	net	net	ADJ
ajfa-82	209	22	worth	worth	NOUN
ajfa-82	209	23	(	(	PUNCT
ajfa-82	209	24	41	41	NUM
ajfa-82	209	25	portfolios	portfolio	NOUN
ajfa-82	209	26	)	)	PUNCT
ajfa-82	209	27	0	0	NUM
ajfa-82	209	28	%	%	NOUN
ajfa-82	209	29	to	to	PART
ajfa-82	209	30	40	40	NUM
ajfa-82	209	31	%	%	NOUN
ajfa-82	209	32	invested	invest	VERB
ajfa-82	209	33	in	in	ADP
ajfa-82	209	34	risky	risky	ADJ
ajfa-82	209	35	assets	asset	NOUN
ajfa-82	209	36	40	40	NUM
ajfa-82	209	37	%	%	NOUN
ajfa-82	209	38	to	to	PART
ajfa-82	209	39	60	60	NUM
ajfa-82	209	40	%	%	NOUN
ajfa-82	209	41	invested	invest	VERB
ajfa-82	209	42	in	in	ADP
ajfa-82	209	43	risky	risky	ADJ
ajfa-82	209	44	assets	asset	NOUN
ajfa-82	209	45	60	60	NUM
ajfa-82	209	46	%	%	NOUN
ajfa-82	209	47	to	to	PART
ajfa-82	209	48	75	75	NUM
ajfa-82	209	49	%	%	NOUN
ajfa-82	209	50	invested	invest	VERB
ajfa-82	209	51	in	in	ADP
ajfa-82	209	52	risky	risky	ADJ
ajfa-82	209	53	assets	asset	NOUN
ajfa-82	209	54	75	75	NUM
ajfa-82	209	55	%	%	NOUN
ajfa-82	209	56	to	to	PART
ajfa-82	209	57	100	100	NUM
ajfa-82	209	58	%	%	NOUN
ajfa-82	209	59	invested	invest	VERB
ajfa-82	209	60	in	in	ADP
ajfa-82	209	61	risky	risky	ADJ
ajfa-82	209	62	assets	asset	NOUN
ajfa-82	209	63	total	total	VERB
ajfa-82	209	64	$	$	SYM
ajfa-82	209	65	0	0	NUM
ajfa-82	209	66	to	to	ADP
ajfa-82	209	67	$	$	SYM
ajfa-82	209	68	100,000	100,000	NUM
ajfa-82	209	69	0.00	0.00	NUM
ajfa-82	209	70	0.00	0.00	NUM
ajfa-82	209	71	0.00	0.00	NUM
ajfa-82	209	72	1.00	1.00	NUM
ajfa-82	209	73	1.00	1.00	NUM
ajfa-82	209	74	$	$	SYM
ajfa-82	209	75	100,000	100,000	NUM
ajfa-82	209	76	to	to	PART
ajfa-82	209	77	$	$	SYM
ajfa-82	209	78	200,000	200,000	NUM
ajfa-82	209	79	0.1428	0.1428	NUM
ajfa-82	209	80	0.00	0.00	NUM
ajfa-82	209	81	0.00	0.00	NUM
ajfa-82	209	82	0.8571	0.8571	NUM
ajfa-82	209	83	1.00	1.00	NUM
ajfa-82	209	84	$	$	SYM
ajfa-82	209	85	200,000	200,000	NUM
ajfa-82	209	86	to	to	PART
ajfa-82	209	87	$	$	SYM
ajfa-82	209	88	300,000	300,000	NUM
ajfa-82	209	89	0.00	0.00	NUM
ajfa-82	209	90	0.00	0.00	NUM
ajfa-82	209	91	0.00	0.00	NUM
ajfa-82	209	92	1.00	1.00	NUM
ajfa-82	209	93	1.00	1.00	NUM
ajfa-82	209	94	$	$	SYM
ajfa-82	209	95	300,000	300,000	NUM
ajfa-82	209	96	to	to	PART
ajfa-82	209	97	$	$	SYM
ajfa-82	209	98	400,000	400,000	NUM
ajfa-82	209	99	0.1428	0.1428	NUM
ajfa-82	209	100	0.00	0.00	NUM
ajfa-82	209	101	0.2857	0.2857	NUM
ajfa-82	209	102	0.5715	0.5715	NUM
ajfa-82	209	103	1.00	1.00	NUM
ajfa-82	209	104	5	5	NUM
ajfa-82	209	105	these	these	PRON
ajfa-82	209	106	are	be	AUX
ajfa-82	209	107	simply	simply	ADV
ajfa-82	209	108	the	the	DET
ajfa-82	209	109	assumptions	assumption	NOUN
ajfa-82	209	110	underlying	underlie	VERB
ajfa-82	209	111	the	the	DET
ajfa-82	209	112	chi	chi	ADJ
ajfa-82	209	113	-	-	PUNCT
ajfa-82	209	114	square	square	NOUN
ajfa-82	209	115	test	test	NOUN
ajfa-82	209	116	because	because	SCONJ
ajfa-82	209	117	,	,	PUNCT
ajfa-82	209	118	in	in	ADP
ajfa-82	209	119	essence	essence	NOUN
ajfa-82	209	120	,	,	PUNCT
ajfa-82	209	121	that	that	PRON
ajfa-82	209	122	is	be	AUX
ajfa-82	209	123	what	what	PRON
ajfa-82	209	124	a	a	DET
ajfa-82	209	125	cross	cross	NOUN
ajfa-82	209	126	-	-	ADJ
ajfa-82	209	127	classification	classification	NOUN
ajfa-82	209	128	is	be	AUX
ajfa-82	209	129	.	.	PUNCT
ajfa-82	210	1	asian	asian	ADJ
ajfa-82	210	2	journal	journal	PROPN
ajfa-82	210	3	of	of	ADP
ajfa-82	210	4	finance	finance	PROPN
ajfa-82	210	5	&	&	CCONJ
ajfa-82	210	6	accounting	accounting	PROPN
ajfa-82	210	7	issn	issn	PROPN
ajfa-82	210	8	1946	1946	NUM
ajfa-82	210	9	-	-	PUNCT
ajfa-82	210	10	052x	052x	NOUN
ajfa-82	210	11	2009	2009	NUM
ajfa-82	210	12	,	,	PUNCT
ajfa-82	210	13	vol	vol	NOUN
ajfa-82	210	14	.	.	PROPN
ajfa-82	210	15	1	1	NUM
ajfa-82	210	16	,	,	PUNCT
ajfa-82	210	17	no	no	INTJ
ajfa-82	210	18	.	.	NOUN
ajfa-82	210	19	1	1	NUM
ajfa-82	210	20	:	:	PUNCT
ajfa-82	210	21	e1	e1	VERB
ajfa-82	210	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	210	23	67	67	NUM
ajfa-82	210	24	$	$	SYM
ajfa-82	210	25	400,000	400,000	NUM
ajfa-82	210	26	+	+	CCONJ
ajfa-82	210	27	0.1764	0.1764	NUM
ajfa-82	210	28	0.1764	0.1764	NUM
ajfa-82	210	29	0.1764	0.1764	NUM
ajfa-82	210	30	0.4708	0.4708	NUM
ajfa-82	210	31	1.00	1.00	NUM
ajfa-82	210	32	table	table	NOUN
ajfa-82	210	33	5	5	NUM
ajfa-82	210	34	.	.	PUNCT
ajfa-82	210	35	percentage	percentage	NOUN
ajfa-82	210	36	of	of	ADP
ajfa-82	210	37	portfolio	portfolio	NOUN
ajfa-82	210	38	in	in	ADP
ajfa-82	210	39	risky	risky	ADJ
ajfa-82	210	40	assets	asset	NOUN
ajfa-82	210	41	vs	vs	ADP
ajfa-82	210	42	portfolio	portfolio	NOUN
ajfa-82	210	43	net	net	ADJ
ajfa-82	210	44	worth	worth	NOUN
ajfa-82	210	45	(	(	PUNCT
ajfa-82	210	46	cross	cross	ADJ
ajfa-82	210	47	-	-	ADJ
ajfa-82	210	48	classification	classification	ADJ
ajfa-82	210	49	analysis	analysis	NOUN
ajfa-82	210	50	)	)	PUNCT
ajfa-82	210	51	portfolio	portfolio	NOUN
ajfa-82	210	52	net	net	ADJ
ajfa-82	210	53	worth	worth	ADJ
ajfa-82	210	54	(	(	PUNCT
ajfa-82	210	55	100	100	NUM
ajfa-82	210	56	portfolios	portfolio	NOUN
ajfa-82	210	57	)	)	PUNCT
ajfa-82	210	58	0	0	NUM
ajfa-82	210	59	%	%	NOUN
ajfa-82	210	60	to	to	PART
ajfa-82	210	61	40	40	NUM
ajfa-82	210	62	%	%	NOUN
ajfa-82	210	63	invested	invest	VERB
ajfa-82	210	64	in	in	ADP
ajfa-82	210	65	risky	risky	ADJ
ajfa-82	210	66	assets	asset	NOUN
ajfa-82	210	67	40	40	NUM
ajfa-82	210	68	%	%	NOUN
ajfa-82	210	69	to	to	PART
ajfa-82	210	70	60	60	NUM
ajfa-82	210	71	%	%	NOUN
ajfa-82	210	72	invested	invest	VERB
ajfa-82	210	73	in	in	ADP
ajfa-82	210	74	risky	risky	ADJ
ajfa-82	210	75	assets	asset	NOUN
ajfa-82	210	76	60	60	NUM
ajfa-82	210	77	%	%	NOUN
ajfa-82	210	78	to	to	PART
ajfa-82	210	79	75	75	NUM
ajfa-82	210	80	%	%	NOUN
ajfa-82	210	81	invested	invest	VERB
ajfa-82	210	82	in	in	ADP
ajfa-82	210	83	risky	risky	ADJ
ajfa-82	210	84	assets	asset	NOUN
ajfa-82	210	85	75	75	NUM
ajfa-82	210	86	%	%	NOUN
ajfa-82	210	87	to	to	PART
ajfa-82	210	88	100	100	NUM
ajfa-82	210	89	%	%	NOUN
ajfa-82	210	90	invested	invest	VERB
ajfa-82	210	91	in	in	ADP
ajfa-82	210	92	risky	risky	ADJ
ajfa-82	210	93	assets	asset	NOUN
ajfa-82	210	94	total	total	VERB
ajfa-82	210	95	$	$	SYM
ajfa-82	210	96	0	0	NUM
ajfa-82	210	97	to	to	PART
ajfa-82	210	98	$	$	SYM
ajfa-82	210	99	500,000	500,000	NUM
ajfa-82	210	100	0.00	0.00	NUM
ajfa-82	210	101	0.04166	0.04166	NUM
ajfa-82	210	102	0.04166	0.04166	NUM
ajfa-82	210	103	0.9166	0.9166	NUM
ajfa-82	210	104	1.00	1.00	NUM
ajfa-82	210	105	$	$	SYM
ajfa-82	210	106	500,000	500,000	NUM
ajfa-82	210	107	to	to	PART
ajfa-82	210	108	$	$	SYM
ajfa-82	210	109	1,000,000	1,000,000	NUM
ajfa-82	210	110	0.0344	0.0344	NUM
ajfa-82	210	111	0.0344	0.0344	NUM
ajfa-82	210	112	0.00	0.00	NUM
ajfa-82	210	113	0.9310	0.9310	NUM
ajfa-82	210	114	1.00	1.00	NUM
ajfa-82	210	115	$	$	SYM
ajfa-82	210	116	1,000,000	1,000,000	NUM
ajfa-82	210	117	to	to	PART
ajfa-82	210	118	$	$	SYM
ajfa-82	210	119	1,500,000	1,500,000	NUM
ajfa-82	210	120	0.00	0.00	NUM
ajfa-82	210	121	0.00	0.00	NUM
ajfa-82	210	122	0.00	0.00	NUM
ajfa-82	210	123	1.00	1.00	NUM
ajfa-82	210	124	1.00	1.00	NUM
ajfa-82	210	125	$	$	SYM
ajfa-82	210	126	1,500,000	1,500,000	NUM
ajfa-82	210	127	to	to	PART
ajfa-82	210	128	$	$	SYM
ajfa-82	210	129	2,000,000	2,000,000	NUM
ajfa-82	210	130	0.00	0.00	NUM
ajfa-82	210	131	0.00	0.00	NUM
ajfa-82	210	132	0.00	0.00	NUM
ajfa-82	210	133	1.00	1.00	NUM
ajfa-82	210	134	1.00	1.00	NUM
ajfa-82	210	135	$	$	SYM
ajfa-82	210	136	2,000,000	2,000,000	NUM
ajfa-82	210	137	+	+	CCONJ
ajfa-82	210	138	0.00	0.00	NUM
ajfa-82	210	139	0.00	0.00	NUM
ajfa-82	210	140	0.2222	0.2222	NUM
ajfa-82	210	141	0.7777	0.7777	NUM
ajfa-82	210	142	1.00	1.00	NUM
ajfa-82	210	143	in	in	ADP
ajfa-82	210	144	tables	table	NOUN
ajfa-82	210	145	4	4	NUM
ajfa-82	210	146	and	and	CCONJ
ajfa-82	210	147	5	5	NUM
ajfa-82	210	148	,	,	PUNCT
ajfa-82	210	149	the	the	DET
ajfa-82	210	150	data	datum	NOUN
ajfa-82	210	151	are	be	AUX
ajfa-82	210	152	tabulated	tabulate	VERB
ajfa-82	210	153	according	accord	VERB
ajfa-82	210	154	to	to	ADP
ajfa-82	210	155	portfolio	portfolio	NOUN
ajfa-82	210	156	net	net	ADJ
ajfa-82	210	157	worth	worth	ADJ
ajfa-82	210	158	(	(	PUNCT
ajfa-82	210	159	rows	row	NOUN
ajfa-82	210	160	)	)	PUNCT
ajfa-82	210	161	and	and	CCONJ
ajfa-82	210	162	proportions	proportion	NOUN
ajfa-82	210	163	of	of	ADP
ajfa-82	210	164	total	total	ADJ
ajfa-82	210	165	portfolio	portfolio	NOUN
ajfa-82	210	166	net	net	ADJ
ajfa-82	210	167	worth	worth	NOUN
ajfa-82	210	168	invested	invest	VERB
ajfa-82	210	169	in	in	ADP
ajfa-82	210	170	risky	risky	ADJ
ajfa-82	210	171	assets	asset	NOUN
ajfa-82	210	172	(	(	PUNCT
ajfa-82	210	173	columns	column	NOUN
ajfa-82	210	174	)	)	PUNCT
ajfa-82	210	175	.	.	PUNCT
ajfa-82	211	1	tables	table	NOUN
ajfa-82	211	2	4	4	NUM
ajfa-82	211	3	and	and	CCONJ
ajfa-82	211	4	5	5	NUM
ajfa-82	211	5	show	show	VERB
ajfa-82	211	6	the	the	DET
ajfa-82	211	7	percentage	percentage	NOUN
ajfa-82	211	8	of	of	ADP
ajfa-82	211	9	smsfs	smsfs	NOUN
ajfa-82	211	10	at	at	ADP
ajfa-82	211	11	different	different	ADJ
ajfa-82	211	12	portfolio	portfolio	NOUN
ajfa-82	211	13	net	net	ADJ
ajfa-82	211	14	worth	worth	ADJ
ajfa-82	211	15	levels	level	NOUN
ajfa-82	211	16	that	that	PRON
ajfa-82	211	17	have	have	VERB
ajfa-82	211	18	certain	certain	ADJ
ajfa-82	211	19	proportions	proportion	NOUN
ajfa-82	211	20	invested	invest	VERB
ajfa-82	211	21	in	in	ADP
ajfa-82	211	22	risky	risky	ADJ
ajfa-82	211	23	assets	asset	NOUN
ajfa-82	211	24	.	.	PUNCT
ajfa-82	212	1	for	for	ADP
ajfa-82	212	2	example	example	NOUN
ajfa-82	212	3	,	,	PUNCT
ajfa-82	212	4	the	the	DET
ajfa-82	212	5	figure	figure	NOUN
ajfa-82	212	6	0.1428	0.1428	NUM
ajfa-82	212	7	in	in	ADP
ajfa-82	212	8	row	row	NOUN
ajfa-82	212	9	3	3	NUM
ajfa-82	212	10	,	,	PUNCT
ajfa-82	212	11	column	column	NOUN
ajfa-82	212	12	2	2	NUM
ajfa-82	212	13	of	of	ADP
ajfa-82	212	14	table	table	NOUN
ajfa-82	212	15	4	4	NUM
ajfa-82	212	16	means	mean	VERB
ajfa-82	212	17	that	that	SCONJ
ajfa-82	212	18	14.28	14.28	NUM
ajfa-82	212	19	%	%	NOUN
ajfa-82	212	20	of	of	ADP
ajfa-82	212	21	the	the	DET
ajfa-82	212	22	self	self	NOUN
ajfa-82	212	23	managed	manage	VERB
ajfa-82	212	24	superannuation	superannuation	NOUN
ajfa-82	212	25	funds	fund	NOUN
ajfa-82	212	26	in	in	ADP
ajfa-82	212	27	the	the	DET
ajfa-82	212	28	41	41	NUM
ajfa-82	212	29	-	-	PUNCT
ajfa-82	212	30	portfolio	portfolio	NOUN
ajfa-82	212	31	sub	sub	NOUN
ajfa-82	212	32	-	-	NOUN
ajfa-82	212	33	sample	sample	NOUN
ajfa-82	212	34	with	with	ADP
ajfa-82	212	35	a	a	DET
ajfa-82	212	36	net	net	ADJ
ajfa-82	212	37	worth	worth	NOUN
ajfa-82	212	38	of	of	ADP
ajfa-82	212	39	$	$	SYM
ajfa-82	212	40	100,000	100,000	NUM
ajfa-82	212	41	to	to	PART
ajfa-82	212	42	$	$	SYM
ajfa-82	212	43	200,000	200,000	NUM
ajfa-82	212	44	had	have	VERB
ajfa-82	212	45	between	between	ADP
ajfa-82	212	46	0	0	NUM
ajfa-82	212	47	%	%	NOUN
ajfa-82	212	48	and	and	CCONJ
ajfa-82	212	49	40	40	NUM
ajfa-82	212	50	%	%	NOUN
ajfa-82	212	51	of	of	ADP
ajfa-82	212	52	total	total	ADJ
ajfa-82	212	53	portfolio	portfolio	NOUN
ajfa-82	212	54	net	net	ADJ
ajfa-82	212	55	worth	worth	NOUN
ajfa-82	212	56	invested	invest	VERB
ajfa-82	212	57	in	in	ADP
ajfa-82	212	58	risky	risky	ADJ
ajfa-82	212	59	assets	asset	NOUN
ajfa-82	212	60	.	.	PUNCT
ajfa-82	213	1	whilst	whilst	SCONJ
ajfa-82	213	2	the	the	DET
ajfa-82	213	3	data	datum	NOUN
ajfa-82	213	4	are	be	AUX
ajfa-82	213	5	presented	present	VERB
ajfa-82	213	6	here	here	ADV
ajfa-82	213	7	as	as	ADP
ajfa-82	213	8	percentages	percentage	NOUN
ajfa-82	213	9	of	of	ADP
ajfa-82	213	10	the	the	DET
ajfa-82	213	11	self	self	NOUN
ajfa-82	213	12	managed	manage	VERB
ajfa-82	213	13	superannuation	superannuation	NOUN
ajfa-82	213	14	funds	fund	NOUN
ajfa-82	213	15	that	that	PRON
ajfa-82	213	16	held	hold	VERB
ajfa-82	213	17	particular	particular	ADJ
ajfa-82	213	18	percentages	percentage	NOUN
ajfa-82	213	19	of	of	ADP
ajfa-82	213	20	their	their	PRON
ajfa-82	213	21	net	net	ADJ
ajfa-82	213	22	worth	worth	NOUN
ajfa-82	213	23	in	in	ADP
ajfa-82	213	24	risky	risky	ADJ
ajfa-82	213	25	assets	asset	NOUN
ajfa-82	213	26	,	,	PUNCT
ajfa-82	213	27	the	the	DET
ajfa-82	213	28	data	datum	NOUN
ajfa-82	213	29	were	be	AUX
ajfa-82	213	30	also	also	ADV
ajfa-82	213	31	arranged	arrange	VERB
ajfa-82	213	32	in	in	ADP
ajfa-82	213	33	contingency	contingency	NOUN
ajfa-82	213	34	tables	table	NOUN
ajfa-82	213	35	displaying	display	VERB
ajfa-82	213	36	the	the	DET
ajfa-82	213	37	absolute	absolute	ADJ
ajfa-82	213	38	number	number	NOUN
ajfa-82	213	39	of	of	ADP
ajfa-82	213	40	funds	fund	NOUN
ajfa-82	213	41	with	with	ADP
ajfa-82	213	42	particular	particular	ADJ
ajfa-82	213	43	percentages	percentage	NOUN
ajfa-82	213	44	of	of	ADP
ajfa-82	213	45	their	their	PRON
ajfa-82	213	46	net	net	ADJ
ajfa-82	213	47	worth	worth	NOUN
ajfa-82	213	48	invested	invest	VERB
ajfa-82	213	49	in	in	ADP
ajfa-82	213	50	risky	risky	ADJ
ajfa-82	213	51	assets	asset	NOUN
ajfa-82	213	52	.	.	PUNCT
ajfa-82	214	1	the	the	DET
ajfa-82	214	2	analysis	analysis	NOUN
ajfa-82	214	3	of	of	ADP
ajfa-82	214	4	the	the	DET
ajfa-82	214	5	absolute	absolute	ADJ
ajfa-82	214	6	values	value	NOUN
ajfa-82	214	7	yielded	yield	VERB
ajfa-82	214	8	the	the	DET
ajfa-82	214	9	same	same	ADJ
ajfa-82	214	10	statistical	statistical	ADJ
ajfa-82	214	11	results	result	NOUN
ajfa-82	214	12	as	as	ADP
ajfa-82	214	13	the	the	DET
ajfa-82	214	14	analysis	analysis	NOUN
ajfa-82	214	15	of	of	ADP
ajfa-82	214	16	the	the	DET
ajfa-82	214	17	contingency	contingency	NOUN
ajfa-82	214	18	tables	table	NOUN
ajfa-82	214	19	above	above	ADV
ajfa-82	214	20	.	.	PUNCT
ajfa-82	215	1	in	in	ADP
ajfa-82	215	2	order	order	NOUN
ajfa-82	215	3	to	to	PART
ajfa-82	215	4	assess	assess	VERB
ajfa-82	215	5	the	the	DET
ajfa-82	215	6	statistical	statistical	ADJ
ajfa-82	215	7	significance	significance	NOUN
ajfa-82	215	8	of	of	ADP
ajfa-82	215	9	the	the	DET
ajfa-82	215	10	relationship	relationship	NOUN
ajfa-82	215	11	between	between	ADP
ajfa-82	215	12	the	the	DET
ajfa-82	215	13	variables	variable	NOUN
ajfa-82	215	14	,	,	PUNCT
ajfa-82	215	15	a	a	DET
ajfa-82	215	16	chi	chi	NOUN
ajfa-82	215	17	-	-	PUNCT
ajfa-82	215	18	square	square	NOUN
ajfa-82	215	19	)	)	PUNCT
ajfa-82	215	20	(	(	PUNCT
ajfa-82	215	21	2	2	NUM
ajfa-82	215	22	test	test	NOUN
ajfa-82	215	23	of	of	ADP
ajfa-82	215	24	the	the	DET
ajfa-82	215	25	cross	cross	NOUN
ajfa-82	215	26	-	-	NOUN
ajfa-82	215	27	classifications	classification	NOUN
ajfa-82	215	28	was	be	AUX
ajfa-82	215	29	undertaken	undertake	VERB
ajfa-82	215	30	.	.	PUNCT
ajfa-82	216	1	as	as	SCONJ
ajfa-82	216	2	mentioned	mention	VERB
ajfa-82	216	3	previously	previously	ADV
ajfa-82	216	4	,	,	PUNCT
ajfa-82	216	5	this	this	DET
ajfa-82	216	6	type	type	NOUN
ajfa-82	216	7	of	of	ADP
ajfa-82	216	8	statistical	statistical	ADJ
ajfa-82	216	9	analysis	analysis	NOUN
ajfa-82	216	10	is	be	AUX
ajfa-82	216	11	particularly	particularly	ADV
ajfa-82	216	12	well	well	ADV
ajfa-82	216	13	suited	suited	ADJ
ajfa-82	216	14	to	to	ADP
ajfa-82	216	15	this	this	DET
ajfa-82	216	16	investigation	investigation	NOUN
ajfa-82	216	17	because	because	SCONJ
ajfa-82	216	18	there	there	PRON
ajfa-82	216	19	is	be	VERB
ajfa-82	216	20	a	a	DET
ajfa-82	216	21	asian	asian	ADJ
ajfa-82	216	22	journal	journal	NOUN
ajfa-82	216	23	of	of	ADP
ajfa-82	216	24	finance	finance	PROPN
ajfa-82	216	25	&	&	CCONJ
ajfa-82	216	26	accounting	accounting	PROPN
ajfa-82	216	27	issn	issn	PROPN
ajfa-82	216	28	1946	1946	NUM
ajfa-82	216	29	-	-	PUNCT
ajfa-82	216	30	052x	052x	NOUN
ajfa-82	216	31	2009	2009	NUM
ajfa-82	216	32	,	,	PUNCT
ajfa-82	216	33	vol	vol	NOUN
ajfa-82	216	34	.	.	PROPN
ajfa-82	216	35	1	1	NUM
ajfa-82	216	36	,	,	PUNCT
ajfa-82	216	37	no	no	INTJ
ajfa-82	216	38	.	.	NOUN
ajfa-82	216	39	1	1	NUM
ajfa-82	216	40	:	:	PUNCT
ajfa-82	216	41	e1	e1	VERB
ajfa-82	216	42	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	216	43	68	68	NUM
ajfa-82	216	44	strong	strong	ADJ
ajfa-82	216	45	likelihood	likelihood	NOUN
ajfa-82	216	46	that	that	SCONJ
ajfa-82	216	47	the	the	DET
ajfa-82	216	48	variables	variable	NOUN
ajfa-82	216	49	are	be	AUX
ajfa-82	216	50	non	non	ADJ
ajfa-82	216	51	-	-	ADJ
ajfa-82	216	52	normally	normally	ADV
ajfa-82	216	53	distributed	distribute	VERB
ajfa-82	216	54	.	.	PUNCT
ajfa-82	217	1	furthermore	furthermore	ADV
ajfa-82	217	2	,	,	PUNCT
ajfa-82	217	3	this	this	DET
ajfa-82	217	4	methodology	methodology	NOUN
ajfa-82	217	5	has	have	AUX
ajfa-82	217	6	been	be	AUX
ajfa-82	217	7	deployed	deploy	VERB
ajfa-82	217	8	in	in	ADP
ajfa-82	217	9	well	well	ADV
ajfa-82	217	10	-	-	PUNCT
ajfa-82	217	11	known	know	VERB
ajfa-82	217	12	studies	study	NOUN
ajfa-82	217	13	that	that	PRON
ajfa-82	217	14	have	have	VERB
ajfa-82	217	15	a	a	DET
ajfa-82	217	16	similar	similar	ADJ
ajfa-82	217	17	theme	theme	NOUN
ajfa-82	217	18	to	to	ADP
ajfa-82	217	19	the	the	DET
ajfa-82	217	20	present	present	ADJ
ajfa-82	217	21	investigation	investigation	NOUN
ajfa-82	217	22	.	.	PUNCT
ajfa-82	218	1	formally	formally	ADV
ajfa-82	218	2	,	,	PUNCT
ajfa-82	218	3	the	the	DET
ajfa-82	218	4	chi	chi	ADJ
ajfa-82	218	5	-	-	PUNCT
ajfa-82	218	6	square	square	ADJ
ajfa-82	218	7	statistic	statistic	NOUN
ajfa-82	218	8	is	be	AUX
ajfa-82	218	9	used	use	VERB
ajfa-82	218	10	to	to	PART
ajfa-82	218	11	test	test	VERB
ajfa-82	218	12	whether	whether	SCONJ
ajfa-82	218	13	the	the	DET
ajfa-82	218	14	allocations	allocation	NOUN
ajfa-82	218	15	(	(	PUNCT
ajfa-82	218	16	dollars	dollar	NOUN
ajfa-82	218	17	and	and	CCONJ
ajfa-82	218	18	percentages	percentage	NOUN
ajfa-82	218	19	)	)	PUNCT
ajfa-82	218	20	to	to	ADP
ajfa-82	218	21	risky	risky	ADJ
ajfa-82	218	22	assets	asset	NOUN
ajfa-82	218	23	and	and	CCONJ
ajfa-82	218	24	total	total	ADJ
ajfa-82	218	25	portfolio	portfolio	NOUN
ajfa-82	218	26	net	net	ADJ
ajfa-82	218	27	worth	worth	NOUN
ajfa-82	218	28	are	be	AUX
ajfa-82	218	29	statistically	statistically	ADV
ajfa-82	218	30	independent	independent	ADJ
ajfa-82	218	31	.	.	PUNCT
ajfa-82	219	1	chi	chi	ADJ
ajfa-82	219	2	-	-	PUNCT
ajfa-82	219	3	square	square	ADJ
ajfa-82	219	4	permits	permit	NOUN
ajfa-82	219	5	testing	testing	NOUN
ajfa-82	219	6	of	of	ADP
ajfa-82	219	7	the	the	DET
ajfa-82	219	8	following	follow	VERB
ajfa-82	219	9	type	type	NOUN
ajfa-82	219	10	of	of	ADP
ajfa-82	219	11	hypothesis	hypothesis	NOUN
ajfa-82	219	12	:	:	PUNCT
ajfa-82	219	13	the	the	DET
ajfa-82	219	14	percentage	percentage	NOUN
ajfa-82	219	15	of	of	ADP
ajfa-82	219	16	total	total	ADJ
ajfa-82	219	17	portfolio	portfolio	NOUN
ajfa-82	219	18	net	net	ADJ
ajfa-82	219	19	worth	worth	NOUN
ajfa-82	219	20	invested	invest	VERB
ajfa-82	219	21	in	in	ADP
ajfa-82	219	22	risky	risky	ADJ
ajfa-82	219	23	assets	asset	NOUN
ajfa-82	219	24	is	be	AUX
ajfa-82	219	25	associated	associate	VERB
ajfa-82	219	26	with	with	ADP
ajfa-82	219	27	the	the	DET
ajfa-82	219	28	total	total	ADJ
ajfa-82	219	29	net	net	ADJ
ajfa-82	219	30	worth	worth	NOUN
ajfa-82	219	31	of	of	ADP
ajfa-82	219	32	the	the	DET
ajfa-82	219	33	portfolio	portfolio	NOUN
ajfa-82	219	34	.	.	PUNCT
ajfa-82	220	1	as	as	ADP
ajfa-82	220	2	a	a	DET
ajfa-82	220	3	distribution	distribution	NOUN
ajfa-82	220	4	-	-	PUNCT
ajfa-82	220	5	free	free	ADJ
ajfa-82	220	6	test	test	NOUN
ajfa-82	220	7	,	,	PUNCT
ajfa-82	220	8	chi	chi	NOUN
ajfa-82	220	9	-	-	PUNCT
ajfa-82	220	10	square	square	NOUN
ajfa-82	220	11	is	be	AUX
ajfa-82	220	12	appropriate	appropriate	ADJ
ajfa-82	220	13	for	for	ADP
ajfa-82	220	14	the	the	DET
ajfa-82	220	15	type	type	NOUN
ajfa-82	220	16	of	of	ADP
ajfa-82	220	17	data	datum	NOUN
ajfa-82	220	18	contained	contain	VERB
ajfa-82	220	19	in	in	ADP
ajfa-82	220	20	the	the	DET
ajfa-82	220	21	cross	cross	ADJ
ajfa-82	220	22	-	-	ADJ
ajfa-82	220	23	classification	classification	ADJ
ajfa-82	220	24	tables	table	NOUN
ajfa-82	220	25	.	.	PUNCT
ajfa-82	221	1	the	the	DET
ajfa-82	221	2	results	result	NOUN
ajfa-82	221	3	are	be	AUX
ajfa-82	221	4	presented	present	VERB
ajfa-82	221	5	in	in	ADP
ajfa-82	221	6	table	table	NOUN
ajfa-82	221	7	6	6	NUM
ajfa-82	221	8	below	below	ADV
ajfa-82	221	9	:	:	PUNCT
ajfa-82	221	10	table	table	NOUN
ajfa-82	221	11	6	6	NUM
ajfa-82	221	12	.	.	PUNCT
ajfa-82	222	1	results	result	NOUN
ajfa-82	222	2	of	of	ADP
ajfa-82	222	3	the	the	DET
ajfa-82	222	4	analysis	analysis	NOUN
ajfa-82	222	5	:	:	PUNCT
ajfa-82	222	6	chi	chi	ADJ
ajfa-82	222	7	-	-	PUNCT
ajfa-82	222	8	square	square	ADJ
ajfa-82	222	9	test	test	NOUN
ajfa-82	222	10	statistics	statistic	NOUN
ajfa-82	222	11	sub	sub	NOUN
ajfa-82	222	12	-	-	NOUN
ajfa-82	222	13	sample	sample	ADJ
ajfa-82	222	14	2	2	NUM
ajfa-82	222	15	asymptotic	asymptotic	ADJ
ajfa-82	222	16	significance	significance	NOUN
ajfa-82	222	17	(	(	PUNCT
ajfa-82	222	18	2	2	NUM
ajfa-82	222	19	sided	sided	ADJ
ajfa-82	222	20	)	)	PUNCT
ajfa-82	222	21	100	100	NUM
ajfa-82	222	22	-	-	PUNCT
ajfa-82	222	23	portfolios	portfolio	NOUN
ajfa-82	222	24	(	(	PUNCT
ajfa-82	222	25	percentage	percentage	NOUN
ajfa-82	222	26	of	of	ADP
ajfa-82	222	27	risky	risky	ADJ
ajfa-82	222	28	assets	asset	NOUN
ajfa-82	222	29	)	)	PUNCT
ajfa-82	222	30	0.3785	0.3785	NUM
ajfa-82	222	31	0.464	0.464	NUM
ajfa-82	222	32	40	40	NUM
ajfa-82	222	33	-	-	PUNCT
ajfa-82	222	34	portfolios	portfolio	NOUN
ajfa-82	222	35	(	(	PUNCT
ajfa-82	222	36	percentage	percentage	NOUN
ajfa-82	222	37	of	of	ADP
ajfa-82	222	38	risky	risky	ADJ
ajfa-82	222	39	assets	asset	NOUN
ajfa-82	222	40	)	)	PUNCT
ajfa-82	222	41	0.3705	0.3705	NUM
ajfa-82	222	42	0.451	0.451	NUM
ajfa-82	222	43	in	in	ADP
ajfa-82	222	44	table	table	NOUN
ajfa-82	222	45	6	6	NUM
ajfa-82	222	46	,	,	PUNCT
ajfa-82	222	47	the	the	DET
ajfa-82	222	48	pearson	pearson	PROPN
ajfa-82	222	49	chi	chi	PROPN
ajfa-82	222	50	-	-	PUNCT
ajfa-82	222	51	square	square	ADJ
ajfa-82	222	52	(	(	PUNCT
ajfa-82	222	53	2	2	NUM
ajfa-82	222	54	)	)	PUNCT
ajfa-82	222	55	tests	test	VERB
ajfa-82	222	56	the	the	DET
ajfa-82	222	57	hypothesis	hypothesis	NOUN
ajfa-82	222	58	for	for	ADP
ajfa-82	222	59	each	each	DET
ajfa-82	222	60	sub	sub	NOUN
ajfa-82	222	61	-	-	NOUN
ajfa-82	222	62	sample	sample	NOUN
ajfa-82	222	63	:	:	PUNCT
ajfa-82	222	64	that	that	SCONJ
ajfa-82	222	65	total	total	ADJ
ajfa-82	222	66	portfolio	portfolio	NOUN
ajfa-82	222	67	net	net	ADJ
ajfa-82	222	68	worth	worth	NOUN
ajfa-82	222	69	and	and	CCONJ
ajfa-82	222	70	the	the	DET
ajfa-82	222	71	percentage	percentage	NOUN
ajfa-82	222	72	of	of	ADP
ajfa-82	222	73	net	net	ADJ
ajfa-82	222	74	worth	worth	NOUN
ajfa-82	222	75	invested	invest	VERB
ajfa-82	222	76	in	in	ADP
ajfa-82	222	77	risky	risky	ADJ
ajfa-82	222	78	assets	asset	NOUN
ajfa-82	222	79	are	be	AUX
ajfa-82	222	80	independent	independent	ADJ
ajfa-82	222	81	.	.	PUNCT
ajfa-82	223	1	the	the	PRON
ajfa-82	223	2	lower	low	ADJ
ajfa-82	223	3	the	the	DET
ajfa-82	223	4	significance	significance	NOUN
ajfa-82	223	5	level	level	NOUN
ajfa-82	223	6	,	,	PUNCT
ajfa-82	223	7	the	the	PRON
ajfa-82	223	8	less	less	ADV
ajfa-82	223	9	likely	likely	ADJ
ajfa-82	223	10	it	it	PRON
ajfa-82	223	11	is	be	AUX
ajfa-82	223	12	that	that	SCONJ
ajfa-82	223	13	the	the	DET
ajfa-82	223	14	two	two	NUM
ajfa-82	223	15	variables	variable	NOUN
ajfa-82	223	16	are	be	AUX
ajfa-82	223	17	unrelated	unrelated	ADJ
ajfa-82	223	18	.	.	PUNCT
ajfa-82	224	1	for	for	ADP
ajfa-82	224	2	both	both	DET
ajfa-82	224	3	sub	sub	NOUN
ajfa-82	224	4	-	-	NOUN
ajfa-82	224	5	samples	sample	NOUN
ajfa-82	224	6	,	,	PUNCT
ajfa-82	224	7	the	the	DET
ajfa-82	224	8	chi	chi	ADJ
ajfa-82	224	9	-	-	PUNCT
ajfa-82	224	10	square	square	ADJ
ajfa-82	224	11	statistics	statistic	NOUN
ajfa-82	224	12	relevant	relevant	ADJ
ajfa-82	224	13	to	to	ADP
ajfa-82	224	14	the	the	DET
ajfa-82	224	15	first	first	ADJ
ajfa-82	224	16	hypothesis	hypothesis	NOUN
ajfa-82	224	17	,	,	PUNCT
ajfa-82	224	18	0.3785	0.3785	NUM
ajfa-82	224	19	and	and	CCONJ
ajfa-82	224	20	0.3705	0.3705	NUM
ajfa-82	224	21	for	for	ADP
ajfa-82	224	22	each	each	DET
ajfa-82	224	23	sub	sub	NOUN
ajfa-82	224	24	-	-	NOUN
ajfa-82	224	25	sample	sample	NOUN
ajfa-82	224	26	respectively	respectively	ADV
ajfa-82	224	27	,	,	PUNCT
ajfa-82	224	28	are	be	AUX
ajfa-82	224	29	not	not	PART
ajfa-82	224	30	significant	significant	ADJ
ajfa-82	224	31	.	.	PUNCT
ajfa-82	225	1	this	this	PRON
ajfa-82	225	2	leads	lead	VERB
ajfa-82	225	3	to	to	ADP
ajfa-82	225	4	the	the	DET
ajfa-82	225	5	conclusion	conclusion	NOUN
ajfa-82	225	6	that	that	SCONJ
ajfa-82	225	7	total	total	ADJ
ajfa-82	225	8	portfolio	portfolio	NOUN
ajfa-82	225	9	net	net	ADJ
ajfa-82	225	10	worth	worth	NOUN
ajfa-82	225	11	and	and	CCONJ
ajfa-82	225	12	the	the	DET
ajfa-82	225	13	percentage	percentage	NOUN
ajfa-82	225	14	of	of	ADP
ajfa-82	225	15	net	net	ADJ
ajfa-82	225	16	worth	worth	NOUN
ajfa-82	225	17	invested	invest	VERB
ajfa-82	225	18	in	in	ADP
ajfa-82	225	19	risky	risky	ADJ
ajfa-82	225	20	assets	asset	NOUN
ajfa-82	225	21	are	be	AUX
ajfa-82	225	22	not	not	PART
ajfa-82	225	23	dependent	dependent	ADJ
ajfa-82	225	24	.	.	PUNCT
ajfa-82	226	1	the	the	DET
ajfa-82	226	2	fact	fact	NOUN
ajfa-82	226	3	that	that	SCONJ
ajfa-82	226	4	these	these	DET
ajfa-82	226	5	results	result	NOUN
ajfa-82	226	6	are	be	AUX
ajfa-82	226	7	the	the	DET
ajfa-82	226	8	same	same	ADJ
ajfa-82	226	9	for	for	ADP
ajfa-82	226	10	both	both	PRON
ajfa-82	226	11	of	of	ADP
ajfa-82	226	12	the	the	DET
ajfa-82	226	13	independent	independent	ADJ
ajfa-82	226	14	sub	sub	NOUN
ajfa-82	226	15	-	-	ADJ
ajfa-82	226	16	samples	sample	NOUN
ajfa-82	226	17	means	mean	VERB
ajfa-82	226	18	that	that	SCONJ
ajfa-82	226	19	we	we	PRON
ajfa-82	226	20	can	can	AUX
ajfa-82	226	21	have	have	VERB
ajfa-82	226	22	a	a	DET
ajfa-82	226	23	reasonable	reasonable	ADJ
ajfa-82	226	24	degree	degree	NOUN
ajfa-82	226	25	of	of	ADP
ajfa-82	226	26	confidence	confidence	NOUN
ajfa-82	226	27	in	in	ADP
ajfa-82	226	28	the	the	DET
ajfa-82	226	29	soundness	soundness	NOUN
ajfa-82	226	30	of	of	ADP
ajfa-82	226	31	the	the	DET
ajfa-82	226	32	analysis	analysis	NOUN
ajfa-82	226	33	and	and	CCONJ
ajfa-82	226	34	rigour	rigour	NOUN
ajfa-82	226	35	of	of	ADP
ajfa-82	226	36	the	the	DET
ajfa-82	226	37	outcomes	outcome	NOUN
ajfa-82	226	38	.	.	PUNCT
ajfa-82	227	1	the	the	DET
ajfa-82	227	2	conclusions	conclusion	NOUN
ajfa-82	227	3	that	that	PRON
ajfa-82	227	4	may	may	AUX
ajfa-82	227	5	be	be	AUX
ajfa-82	227	6	drawn	draw	VERB
ajfa-82	227	7	from	from	ADP
ajfa-82	227	8	this	this	DET
ajfa-82	227	9	analysis	analysis	NOUN
ajfa-82	227	10	can	can	AUX
ajfa-82	227	11	be	be	AUX
ajfa-82	227	12	stated	state	VERB
ajfa-82	227	13	as	as	SCONJ
ajfa-82	227	14	follows	follow	VERB
ajfa-82	227	15	.	.	PUNCT
ajfa-82	228	1	the	the	DET
ajfa-82	228	2	statistical	statistical	ADJ
ajfa-82	228	3	analysis	analysis	NOUN
ajfa-82	228	4	revealed	reveal	VERB
ajfa-82	228	5	the	the	DET
ajfa-82	228	6	independence	independence	NOUN
ajfa-82	228	7	of	of	ADP
ajfa-82	228	8	total	total	ADJ
ajfa-82	228	9	portfolio	portfolio	NOUN
ajfa-82	228	10	net	net	ADJ
ajfa-82	228	11	worth	worth	NOUN
ajfa-82	228	12	and	and	CCONJ
ajfa-82	228	13	the	the	DET
ajfa-82	228	14	percentage	percentage	NOUN
ajfa-82	228	15	of	of	ADP
ajfa-82	228	16	net	net	ADJ
ajfa-82	228	17	worth	worth	NOUN
ajfa-82	228	18	invested	invest	VERB
ajfa-82	228	19	in	in	ADP
ajfa-82	228	20	risky	risky	ADJ
ajfa-82	228	21	assets	asset	NOUN
ajfa-82	228	22	.	.	PUNCT
ajfa-82	229	1	there	there	PRON
ajfa-82	229	2	is	be	VERB
ajfa-82	229	3	no	no	DET
ajfa-82	229	4	tendency	tendency	NOUN
ajfa-82	229	5	for	for	SCONJ
ajfa-82	229	6	either	either	CCONJ
ajfa-82	229	7	larger	large	ADJ
ajfa-82	229	8	(	(	PUNCT
ajfa-82	229	9	smaller	small	ADJ
ajfa-82	229	10	)	)	PUNCT
ajfa-82	229	11	portfolios	portfolio	NOUN
ajfa-82	229	12	to	to	PART
ajfa-82	229	13	be	be	AUX
ajfa-82	229	14	riskier	risky	ADJ
ajfa-82	229	15	than	than	ADP
ajfa-82	229	16	smaller	small	ADJ
ajfa-82	229	17	(	(	PUNCT
ajfa-82	229	18	larger	large	ADJ
ajfa-82	229	19	)	)	PUNCT
ajfa-82	229	20	portfolios	portfolio	NOUN
ajfa-82	229	21	.	.	PUNCT
ajfa-82	230	1	5	5	X
ajfa-82	230	2	.	.	X
ajfa-82	230	3	discussion	discussion	NOUN
ajfa-82	230	4	of	of	ADP
ajfa-82	230	5	results	result	NOUN
ajfa-82	230	6	the	the	DET
ajfa-82	230	7	smsf	smsf	PROPN
ajfa-82	230	8	portfolio	portfolio	PROPN
ajfa-82	230	9	data	datum	NOUN
ajfa-82	230	10	obtained	obtain	VERB
ajfa-82	230	11	for	for	ADP
ajfa-82	230	12	this	this	DET
ajfa-82	230	13	study	study	NOUN
ajfa-82	230	14	presented	present	VERB
ajfa-82	230	15	a	a	DET
ajfa-82	230	16	unique	unique	ADJ
ajfa-82	230	17	opportunity	opportunity	NOUN
ajfa-82	230	18	to	to	PART
ajfa-82	230	19	contribute	contribute	VERB
ajfa-82	230	20	to	to	ADP
ajfa-82	230	21	the	the	DET
ajfa-82	230	22	fledgling	fledgling	NOUN
ajfa-82	230	23	research	research	NOUN
ajfa-82	230	24	programme	programme	NOUN
ajfa-82	230	25	that	that	PRON
ajfa-82	230	26	investigates	investigate	VERB
ajfa-82	230	27	the	the	DET
ajfa-82	230	28	economic	economic	ADJ
ajfa-82	230	29	characteristics	characteristic	NOUN
ajfa-82	230	30	of	of	ADP
ajfa-82	230	31	smsfs	smsfs	PROPN
ajfa-82	230	32	.	.	PUNCT
ajfa-82	231	1	in	in	ADP
ajfa-82	231	2	the	the	DET
ajfa-82	231	3	analysis	analysis	NOUN
ajfa-82	231	4	presented	present	VERB
ajfa-82	231	5	above	above	ADP
ajfa-82	231	6	,	,	PUNCT
ajfa-82	231	7	the	the	DET
ajfa-82	231	8	relationship	relationship	NOUN
ajfa-82	231	9	between	between	ADP
ajfa-82	231	10	portfolio	portfolio	NOUN
ajfa-82	231	11	size	size	NOUN
ajfa-82	231	12	and	and	CCONJ
ajfa-82	231	13	allocations	allocation	NOUN
ajfa-82	231	14	to	to	ADP
ajfa-82	231	15	risky	risky	ADJ
ajfa-82	231	16	assets	asset	NOUN
ajfa-82	231	17	exhibited	exhibit	VERB
ajfa-82	231	18	by	by	ADP
ajfa-82	231	19	two	two	NUM
ajfa-82	231	20	independent	independent	ADJ
ajfa-82	231	21	sub	sub	NOUN
ajfa-82	231	22	-	-	NOUN
ajfa-82	231	23	samples	sample	NOUN
ajfa-82	231	24	of	of	ADP
ajfa-82	231	25	australian	australian	ADJ
ajfa-82	231	26	smsfs	smsfs	PROPN
ajfa-82	231	27	was	be	AUX
ajfa-82	231	28	examined	examine	VERB
ajfa-82	231	29	.	.	PUNCT
ajfa-82	232	1	using	use	VERB
ajfa-82	232	2	a	a	DET
ajfa-82	232	3	non	non	ADJ
ajfa-82	232	4	-	-	ADJ
ajfa-82	232	5	parametric	parametric	ADJ
ajfa-82	232	6	cross	cross	ADJ
ajfa-82	232	7	-	-	ADJ
ajfa-82	232	8	classification	classification	ADJ
ajfa-82	232	9	analysis	analysis	NOUN
ajfa-82	232	10	with	with	ADP
ajfa-82	232	11	a	a	DET
ajfa-82	232	12	chi	chi	ADJ
ajfa-82	232	13	-	-	PUNCT
ajfa-82	232	14	square	square	ADJ
ajfa-82	232	15	test	test	NOUN
ajfa-82	232	16	statistic	statistic	NOUN
ajfa-82	232	17	,	,	PUNCT
ajfa-82	232	18	it	it	PRON
ajfa-82	232	19	was	be	AUX
ajfa-82	232	20	concluded	conclude	VERB
ajfa-82	232	21	that	that	SCONJ
ajfa-82	232	22	the	the	DET
ajfa-82	232	23	portfolios	portfolio	NOUN
ajfa-82	232	24	being	be	AUX
ajfa-82	232	25	considered	consider	VERB
ajfa-82	232	26	in	in	ADP
ajfa-82	232	27	this	this	DET
ajfa-82	232	28	study	study	NOUN
ajfa-82	232	29	exhibited	exhibit	VERB
ajfa-82	232	30	no	no	DET
ajfa-82	232	31	discernible	discernible	ADJ
ajfa-82	232	32	relationship	relationship	NOUN
ajfa-82	232	33	between	between	ADP
ajfa-82	232	34	portfolio	portfolio	NOUN
ajfa-82	232	35	size	size	NOUN
ajfa-82	232	36	and	and	CCONJ
ajfa-82	232	37	allocations	allocation	NOUN
ajfa-82	232	38	to	to	ADP
ajfa-82	232	39	risky	risky	ADJ
ajfa-82	232	40	assets	asset	NOUN
ajfa-82	232	41	.	.	PUNCT
ajfa-82	233	1	that	that	ADV
ajfa-82	233	2	is	be	AUX
ajfa-82	233	3	,	,	PUNCT
ajfa-82	233	4	the	the	DET
ajfa-82	233	5	percentage	percentage	NOUN
ajfa-82	233	6	of	of	ADP
ajfa-82	233	7	asian	asian	ADJ
ajfa-82	233	8	journal	journal	NOUN
ajfa-82	233	9	of	of	ADP
ajfa-82	233	10	finance	finance	PROPN
ajfa-82	233	11	&	&	CCONJ
ajfa-82	233	12	accounting	accounting	PROPN
ajfa-82	233	13	issn	issn	PROPN
ajfa-82	233	14	1946	1946	NUM
ajfa-82	233	15	-	-	PUNCT
ajfa-82	233	16	052x	052x	NOUN
ajfa-82	233	17	2009	2009	NUM
ajfa-82	233	18	,	,	PUNCT
ajfa-82	233	19	vol	vol	NOUN
ajfa-82	233	20	.	.	PROPN
ajfa-82	233	21	1	1	NUM
ajfa-82	233	22	,	,	PUNCT
ajfa-82	233	23	no	no	INTJ
ajfa-82	233	24	.	.	NOUN
ajfa-82	233	25	1	1	NUM
ajfa-82	233	26	:	:	PUNCT
ajfa-82	233	27	e1	e1	VERB
ajfa-82	233	28	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	233	29	69	69	NUM
ajfa-82	233	30	total	total	ADJ
ajfa-82	233	31	portfolio	portfolio	NOUN
ajfa-82	233	32	net	net	ADJ
ajfa-82	233	33	worth	worth	NOUN
ajfa-82	233	34	allocated	allocate	VERB
ajfa-82	233	35	to	to	ADP
ajfa-82	233	36	risky	risky	ADJ
ajfa-82	233	37	investments	investment	NOUN
ajfa-82	233	38	did	do	AUX
ajfa-82	233	39	not	not	PART
ajfa-82	233	40	change	change	VERB
ajfa-82	233	41	in	in	ADP
ajfa-82	233	42	any	any	DET
ajfa-82	233	43	consistent	consistent	ADJ
ajfa-82	233	44	way	way	NOUN
ajfa-82	233	45	—	—	PUNCT
ajfa-82	233	46	positively	positively	ADV
ajfa-82	233	47	or	or	CCONJ
ajfa-82	233	48	negatively	negatively	ADV
ajfa-82	233	49	—	—	PUNCT
ajfa-82	233	50	as	as	SCONJ
ajfa-82	233	51	total	total	ADJ
ajfa-82	233	52	portfolio	portfolio	NOUN
ajfa-82	233	53	net	net	ADJ
ajfa-82	233	54	worth	worth	NOUN
ajfa-82	233	55	changed	change	VERB
ajfa-82	233	56	.	.	PUNCT
ajfa-82	234	1	interestingly	interestingly	ADV
ajfa-82	234	2	,	,	PUNCT
ajfa-82	234	3	some	some	PRON
ajfa-82	234	4	of	of	ADP
ajfa-82	234	5	the	the	DET
ajfa-82	234	6	highest	high	ADJ
ajfa-82	234	7	valued	value	VERB
ajfa-82	234	8	smsf	smsf	PROPN
ajfa-82	234	9	portfolios	portfolio	NOUN
ajfa-82	234	10	in	in	ADP
ajfa-82	234	11	the	the	DET
ajfa-82	234	12	sample	sample	NOUN
ajfa-82	234	13	exhibited	exhibit	VERB
ajfa-82	234	14	lower	low	ADJ
ajfa-82	234	15	allocations	allocation	NOUN
ajfa-82	234	16	to	to	ADP
ajfa-82	234	17	risky	risky	ADJ
ajfa-82	234	18	assets	asset	NOUN
ajfa-82	234	19	(	(	PUNCT
ajfa-82	234	20	or	or	CCONJ
ajfa-82	234	21	,	,	PUNCT
ajfa-82	234	22	to	to	PART
ajfa-82	234	23	put	put	VERB
ajfa-82	234	24	it	it	PRON
ajfa-82	234	25	differently	differently	ADV
ajfa-82	234	26	,	,	PUNCT
ajfa-82	234	27	higher	high	ADJ
ajfa-82	234	28	allocations	allocation	NOUN
ajfa-82	234	29	to	to	ADP
ajfa-82	234	30	cash	cash	NOUN
ajfa-82	234	31	)	)	PUNCT
ajfa-82	234	32	than	than	ADP
ajfa-82	234	33	funds	fund	NOUN
ajfa-82	234	34	with	with	ADP
ajfa-82	234	35	a	a	DET
ajfa-82	234	36	much	much	ADV
ajfa-82	234	37	lower	low	ADJ
ajfa-82	234	38	net	net	ADJ
ajfa-82	234	39	worth	worth	NOUN
ajfa-82	234	40	.	.	PUNCT
ajfa-82	235	1	this	this	PRON
ajfa-82	235	2	is	be	AUX
ajfa-82	235	3	to	to	PART
ajfa-82	235	4	be	be	AUX
ajfa-82	235	5	expected	expect	VERB
ajfa-82	235	6	if	if	SCONJ
ajfa-82	235	7	smsf	smsf	PROPN
ajfa-82	235	8	trustees	trustee	NOUN
ajfa-82	235	9	form	form	VERB
ajfa-82	235	10	their	their	PRON
ajfa-82	235	11	portfolio	portfolio	NOUN
ajfa-82	235	12	strategies	strategy	NOUN
ajfa-82	235	13	on	on	ADP
ajfa-82	235	14	the	the	DET
ajfa-82	235	15	basis	basis	NOUN
ajfa-82	235	16	of	of	ADP
ajfa-82	235	17	their	their	PRON
ajfa-82	235	18	risk	risk	NOUN
ajfa-82	235	19	aversion	aversion	NOUN
ajfa-82	235	20	(	(	PUNCT
ajfa-82	235	21	and	and	CCONJ
ajfa-82	235	22	their	their	PRON
ajfa-82	235	23	other	other	ADJ
ajfa-82	235	24	economic	economic	ADJ
ajfa-82	235	25	vital	vital	ADJ
ajfa-82	235	26	statistics	statistic	NOUN
ajfa-82	235	27	)	)	PUNCT
ajfa-82	235	28	and	and	CCONJ
ajfa-82	235	29	is	be	AUX
ajfa-82	235	30	comforting	comfort	VERB
ajfa-82	235	31	to	to	ADP
ajfa-82	235	32	the	the	DET
ajfa-82	235	33	extent	extent	NOUN
ajfa-82	235	34	that	that	SCONJ
ajfa-82	235	35	there	there	PRON
ajfa-82	235	36	does	do	AUX
ajfa-82	235	37	not	not	PART
ajfa-82	235	38	appear	appear	VERB
ajfa-82	235	39	to	to	PART
ajfa-82	235	40	be	be	AUX
ajfa-82	235	41	a	a	DET
ajfa-82	235	42	tendency	tendency	NOUN
ajfa-82	235	43	for	for	SCONJ
ajfa-82	235	44	the	the	DET
ajfa-82	235	45	smsfs	smsfs	NOUN
ajfa-82	235	46	to	to	PART
ajfa-82	235	47	become	become	VERB
ajfa-82	235	48	more	more	ADV
ajfa-82	235	49	speculative	speculative	ADJ
ajfa-82	235	50	either	either	ADV
ajfa-82	235	51	when	when	SCONJ
ajfa-82	235	52	they	they	PRON
ajfa-82	235	53	are	be	AUX
ajfa-82	235	54	in	in	ADP
ajfa-82	235	55	their	their	PRON
ajfa-82	235	56	early	early	ADJ
ajfa-82	235	57	stages	stage	NOUN
ajfa-82	235	58	of	of	ADP
ajfa-82	235	59	development	development	NOUN
ajfa-82	235	60	(	(	PUNCT
ajfa-82	235	61	and	and	CCONJ
ajfa-82	235	62	have	have	VERB
ajfa-82	235	63	a	a	DET
ajfa-82	235	64	low	low	ADJ
ajfa-82	235	65	net	net	ADJ
ajfa-82	235	66	worth	worth	NOUN
ajfa-82	235	67	)	)	PUNCT
ajfa-82	235	68	or	or	CCONJ
ajfa-82	235	69	when	when	SCONJ
ajfa-82	235	70	they	they	PRON
ajfa-82	235	71	are	be	AUX
ajfa-82	235	72	in	in	ADP
ajfa-82	235	73	a	a	DET
ajfa-82	235	74	more	more	ADV
ajfa-82	235	75	advanced	advanced	ADJ
ajfa-82	235	76	state	state	NOUN
ajfa-82	235	77	(	(	PUNCT
ajfa-82	235	78	and	and	CCONJ
ajfa-82	235	79	have	have	VERB
ajfa-82	235	80	a	a	DET
ajfa-82	235	81	high	high	ADJ
ajfa-82	235	82	net	net	ADJ
ajfa-82	235	83	worth	worth	NOUN
ajfa-82	235	84	)	)	PUNCT
ajfa-82	235	85	.	.	PUNCT
ajfa-82	236	1	this	this	DET
ajfa-82	236	2	result	result	NOUN
ajfa-82	236	3	implies	imply	VERB
ajfa-82	236	4	that	that	SCONJ
ajfa-82	236	5	,	,	PUNCT
ajfa-82	236	6	at	at	ADP
ajfa-82	236	7	least	least	ADJ
ajfa-82	236	8	within	within	ADP
ajfa-82	236	9	the	the	DET
ajfa-82	236	10	smsfs	smsfs	NOUN
ajfa-82	236	11	in	in	ADP
ajfa-82	236	12	the	the	DET
ajfa-82	236	13	sample	sample	NOUN
ajfa-82	236	14	,	,	PUNCT
ajfa-82	236	15	there	there	PRON
ajfa-82	236	16	is	be	VERB
ajfa-82	236	17	no	no	DET
ajfa-82	236	18	tendency	tendency	NOUN
ajfa-82	236	19	for	for	SCONJ
ajfa-82	236	20	the	the	DET
ajfa-82	236	21	trustees	trustee	NOUN
ajfa-82	236	22	to	to	PART
ajfa-82	236	23	take	take	VERB
ajfa-82	236	24	on	on	ADP
ajfa-82	236	25	more	more	ADJ
ajfa-82	236	26	risks	risk	NOUN
ajfa-82	236	27	as	as	ADP
ajfa-82	236	28	the	the	DET
ajfa-82	236	29	value	value	NOUN
ajfa-82	236	30	of	of	ADP
ajfa-82	236	31	their	their	PRON
ajfa-82	236	32	portfolios	portfolio	NOUN
ajfa-82	236	33	increases	increase	NOUN
ajfa-82	236	34	.	.	PUNCT
ajfa-82	237	1	whilst	whilst	SCONJ
ajfa-82	237	2	the	the	DET
ajfa-82	237	3	absolute	absolute	ADJ
ajfa-82	237	4	dollar	dollar	NOUN
ajfa-82	237	5	value	value	NOUN
ajfa-82	237	6	of	of	ADP
ajfa-82	237	7	funds	fund	NOUN
ajfa-82	237	8	invested	invest	VERB
ajfa-82	237	9	in	in	ADP
ajfa-82	237	10	risky	risky	ADJ
ajfa-82	237	11	assets	asset	NOUN
ajfa-82	237	12	increases	increase	NOUN
ajfa-82	237	13	as	as	SCONJ
ajfa-82	237	14	the	the	DET
ajfa-82	237	15	funds	fund	NOUN
ajfa-82	237	16	increase	increase	VERB
ajfa-82	237	17	in	in	ADP
ajfa-82	237	18	size	size	NOUN
ajfa-82	237	19	,	,	PUNCT
ajfa-82	237	20	the	the	DET
ajfa-82	237	21	relative	relative	ADJ
ajfa-82	237	22	(	(	PUNCT
ajfa-82	237	23	percentage	percentage	NOUN
ajfa-82	237	24	)	)	PUNCT
ajfa-82	237	25	allocations	allocation	NOUN
ajfa-82	237	26	exhibit	exhibit	VERB
ajfa-82	237	27	no	no	DET
ajfa-82	237	28	particular	particular	ADJ
ajfa-82	237	29	relationship	relationship	NOUN
ajfa-82	237	30	with	with	ADP
ajfa-82	237	31	net	net	ADJ
ajfa-82	237	32	worth	worth	NOUN
ajfa-82	237	33	.	.	PUNCT
ajfa-82	238	1	for	for	ADP
ajfa-82	238	2	the	the	DET
ajfa-82	238	3	funds	fund	NOUN
ajfa-82	238	4	in	in	ADP
ajfa-82	238	5	the	the	DET
ajfa-82	238	6	100	100	NUM
ajfa-82	238	7	-	-	PUNCT
ajfa-82	238	8	portfolio	portfolio	NOUN
ajfa-82	238	9	sample	sample	NOUN
ajfa-82	238	10	,	,	PUNCT
ajfa-82	238	11	there	there	PRON
ajfa-82	238	12	is	be	VERB
ajfa-82	238	13	a	a	DET
ajfa-82	238	14	tendency	tendency	NOUN
ajfa-82	238	15	for	for	ADP
ajfa-82	238	16	the	the	DET
ajfa-82	238	17	weighting	weighting	NOUN
ajfa-82	238	18	of	of	ADP
ajfa-82	238	19	risky	risky	ADJ
ajfa-82	238	20	assets	asset	NOUN
ajfa-82	238	21	to	to	PART
ajfa-82	238	22	increase	increase	VERB
ajfa-82	238	23	as	as	SCONJ
ajfa-82	238	24	the	the	DET
ajfa-82	238	25	portfolios	portfolio	NOUN
ajfa-82	238	26	increase	increase	VERB
ajfa-82	238	27	in	in	ADP
ajfa-82	238	28	size	size	NOUN
ajfa-82	238	29	.	.	PUNCT
ajfa-82	239	1	however	however	ADV
ajfa-82	239	2	,	,	PUNCT
ajfa-82	239	3	the	the	DET
ajfa-82	239	4	trend	trend	NOUN
ajfa-82	239	5	is	be	AUX
ajfa-82	239	6	interrupted	interrupt	VERB
ajfa-82	239	7	by	by	ADP
ajfa-82	239	8	the	the	DET
ajfa-82	239	9	much	much	ADV
ajfa-82	239	10	lower	low	ADJ
ajfa-82	239	11	allocation	allocation	NOUN
ajfa-82	239	12	to	to	ADP
ajfa-82	239	13	risky	risky	ADJ
ajfa-82	239	14	assets	asset	NOUN
ajfa-82	239	15	exhibited	exhibit	VERB
ajfa-82	239	16	by	by	ADP
ajfa-82	239	17	funds	fund	NOUN
ajfa-82	239	18	in	in	ADP
ajfa-82	239	19	the	the	DET
ajfa-82	239	20	largest	large	ADJ
ajfa-82	239	21	size	size	NOUN
ajfa-82	239	22	category	category	NOUN
ajfa-82	239	23	.	.	PUNCT
ajfa-82	240	1	these	these	DET
ajfa-82	240	2	funds	fund	NOUN
ajfa-82	240	3	exhibit	exhibit	VERB
ajfa-82	240	4	only	only	ADV
ajfa-82	240	5	slightly	slightly	ADV
ajfa-82	240	6	higher	high	ADJ
ajfa-82	240	7	allocations	allocation	NOUN
ajfa-82	240	8	to	to	ADP
ajfa-82	240	9	risky	risky	ADJ
ajfa-82	240	10	assets	asset	NOUN
ajfa-82	240	11	than	than	ADP
ajfa-82	240	12	the	the	DET
ajfa-82	240	13	funds	fund	NOUN
ajfa-82	240	14	in	in	ADP
ajfa-82	240	15	the	the	DET
ajfa-82	240	16	lowest	low	ADJ
ajfa-82	240	17	size	size	NOUN
ajfa-82	240	18	category	category	NOUN
ajfa-82	240	19	.	.	PUNCT
ajfa-82	241	1	similarly	similarly	ADV
ajfa-82	241	2	,	,	PUNCT
ajfa-82	241	3	for	for	ADP
ajfa-82	241	4	funds	fund	NOUN
ajfa-82	241	5	in	in	ADP
ajfa-82	241	6	the	the	DET
ajfa-82	241	7	41	41	NUM
ajfa-82	241	8	-	-	PUNCT
ajfa-82	241	9	portfolio	portfolio	NOUN
ajfa-82	241	10	sample	sample	NOUN
ajfa-82	241	11	,	,	PUNCT
ajfa-82	241	12	there	there	PRON
ajfa-82	241	13	is	be	VERB
ajfa-82	241	14	actually	actually	ADV
ajfa-82	241	15	a	a	DET
ajfa-82	241	16	trend	trend	NOUN
ajfa-82	241	17	towards	towards	ADP
ajfa-82	241	18	decreasing	decrease	VERB
ajfa-82	241	19	allocations	allocation	NOUN
ajfa-82	241	20	to	to	ADP
ajfa-82	241	21	risky	risky	ADJ
ajfa-82	241	22	assets	asset	NOUN
ajfa-82	241	23	as	as	SCONJ
ajfa-82	241	24	the	the	DET
ajfa-82	241	25	fund	fund	NOUN
ajfa-82	241	26	size	size	NOUN
ajfa-82	241	27	increases	increase	VERB
ajfa-82	241	28	.	.	PUNCT
ajfa-82	242	1	however	however	ADV
ajfa-82	242	2	,	,	PUNCT
ajfa-82	242	3	this	this	DET
ajfa-82	242	4	„	„	PUNCT
ajfa-82	242	5	trend‟	trend‟	NOUN
ajfa-82	242	6	is	be	AUX
ajfa-82	242	7	also	also	ADV
ajfa-82	242	8	interrupted	interrupt	VERB
ajfa-82	242	9	by	by	ADP
ajfa-82	242	10	the	the	DET
ajfa-82	242	11	higher	high	ADJ
ajfa-82	242	12	allocations	allocation	NOUN
ajfa-82	242	13	to	to	ADP
ajfa-82	242	14	risky	risky	ADJ
ajfa-82	242	15	assets	asset	NOUN
ajfa-82	242	16	exhibited	exhibit	VERB
ajfa-82	242	17	by	by	ADP
ajfa-82	242	18	funds	fund	NOUN
ajfa-82	242	19	in	in	ADP
ajfa-82	242	20	the	the	DET
ajfa-82	242	21	middle	middle	ADJ
ajfa-82	242	22	size	size	NOUN
ajfa-82	242	23	category	category	NOUN
ajfa-82	242	24	.	.	PUNCT
ajfa-82	243	1	the	the	DET
ajfa-82	243	2	results	result	NOUN
ajfa-82	243	3	certainly	certainly	ADV
ajfa-82	243	4	suggest	suggest	VERB
ajfa-82	243	5	that	that	SCONJ
ajfa-82	243	6	there	there	PRON
ajfa-82	243	7	is	be	VERB
ajfa-82	243	8	no	no	DET
ajfa-82	243	9	consistent	consistent	ADJ
ajfa-82	243	10	relationship	relationship	NOUN
ajfa-82	243	11	between	between	ADP
ajfa-82	243	12	fund	fund	NOUN
ajfa-82	243	13	size	size	NOUN
ajfa-82	243	14	and	and	CCONJ
ajfa-82	243	15	allocations	allocation	NOUN
ajfa-82	243	16	to	to	ADP
ajfa-82	243	17	risky	risky	ADJ
ajfa-82	243	18	assets	asset	NOUN
ajfa-82	243	19	.	.	PUNCT
ajfa-82	244	1	as	as	SCONJ
ajfa-82	244	2	mentioned	mention	VERB
ajfa-82	244	3	earlier	early	ADV
ajfa-82	244	4	,	,	PUNCT
ajfa-82	244	5	when	when	SCONJ
ajfa-82	244	6	viewed	view	VERB
ajfa-82	244	7	from	from	ADP
ajfa-82	244	8	another	another	DET
ajfa-82	244	9	aspect	aspect	NOUN
ajfa-82	244	10	,	,	PUNCT
ajfa-82	244	11	this	this	DET
ajfa-82	244	12	investigation	investigation	NOUN
ajfa-82	244	13	provides	provide	VERB
ajfa-82	244	14	important	important	ADJ
ajfa-82	244	15	insights	insight	NOUN
ajfa-82	244	16	into	into	ADP
ajfa-82	244	17	another	another	DET
ajfa-82	244	18	characteristic	characteristic	NOUN
ajfa-82	244	19	of	of	ADP
ajfa-82	244	20	smsf	smsf	PROPN
ajfa-82	244	21	portfolio	portfolio	NOUN
ajfa-82	244	22	structure	structure	NOUN
ajfa-82	244	23	:	:	PUNCT
ajfa-82	244	24	cash	cash	NOUN
ajfa-82	244	25	allocations	allocation	NOUN
ajfa-82	244	26	.	.	PUNCT
ajfa-82	245	1	the	the	DET
ajfa-82	245	2	high	high	ADJ
ajfa-82	245	3	proportion	proportion	NOUN
ajfa-82	245	4	of	of	ADP
ajfa-82	245	5	their	their	PRON
ajfa-82	245	6	portfolios	portfolio	NOUN
ajfa-82	245	7	that	that	SCONJ
ajfa-82	245	8	smsf	smsf	PROPN
ajfa-82	245	9	trustees	trustee	NOUN
ajfa-82	245	10	allocate	allocate	VERB
ajfa-82	245	11	to	to	ADP
ajfa-82	245	12	cash	cash	NOUN
ajfa-82	245	13	has	have	AUX
ajfa-82	245	14	been	be	AUX
ajfa-82	245	15	noted	note	VERB
ajfa-82	245	16	(	(	PUNCT
ajfa-82	245	17	phillips	phillips	PROPN
ajfa-82	245	18	,	,	PUNCT
ajfa-82	245	19	cathcart	cathcart	PROPN
ajfa-82	245	20	and	and	CCONJ
ajfa-82	245	21	teale	teale	PROPN
ajfa-82	245	22	2007	2007	NUM
ajfa-82	245	23	)	)	PUNCT
ajfa-82	245	24	.	.	PUNCT
ajfa-82	246	1	the	the	DET
ajfa-82	246	2	data	datum	NOUN
ajfa-82	246	3	presented	present	VERB
ajfa-82	246	4	in	in	ADP
ajfa-82	246	5	table	table	NOUN
ajfa-82	246	6	1	1	NUM
ajfa-82	246	7	(	(	PUNCT
ajfa-82	246	8	above	above	ADV
ajfa-82	246	9	)	)	PUNCT
ajfa-82	246	10	indicate	indicate	VERB
ajfa-82	246	11	that	that	SCONJ
ajfa-82	246	12	smsf	smsf	PROPN
ajfa-82	246	13	trustees	trustee	NOUN
ajfa-82	246	14	in	in	ADP
ajfa-82	246	15	the	the	DET
ajfa-82	246	16	sample	sample	NOUN
ajfa-82	246	17	allocated	allocate	VERB
ajfa-82	246	18	between	between	ADP
ajfa-82	246	19	11	11	NUM
ajfa-82	246	20	and	and	CCONJ
ajfa-82	246	21	22	22	NUM
ajfa-82	246	22	percent	percent	NOUN
ajfa-82	246	23	of	of	ADP
ajfa-82	246	24	their	their	PRON
ajfa-82	246	25	portfolios	portfolio	NOUN
ajfa-82	246	26	to	to	PART
ajfa-82	246	27	cash	cash	VERB
ajfa-82	246	28	.	.	PUNCT
ajfa-82	247	1	this	this	PRON
ajfa-82	247	2	is	be	AUX
ajfa-82	247	3	consistent	consistent	ADJ
ajfa-82	247	4	with	with	ADP
ajfa-82	247	5	the	the	DET
ajfa-82	247	6	most	most	ADV
ajfa-82	247	7	conservative	conservative	ADJ
ajfa-82	247	8	investment	investment	NOUN
ajfa-82	247	9	strategies	strategy	NOUN
ajfa-82	247	10	.	.	PUNCT
ajfa-82	248	1	once	once	ADV
ajfa-82	248	2	more	more	ADV
ajfa-82	248	3	,	,	PUNCT
ajfa-82	248	4	however	however	ADV
ajfa-82	248	5	,	,	PUNCT
ajfa-82	248	6	close	close	ADJ
ajfa-82	248	7	inspection	inspection	NOUN
ajfa-82	248	8	of	of	ADP
ajfa-82	248	9	individual	individual	ADJ
ajfa-82	248	10	smsf	smsf	PROPN
ajfa-82	248	11	portfolio	portfolio	NOUN
ajfa-82	248	12	microstructures	microstructure	NOUN
ajfa-82	248	13	is	be	AUX
ajfa-82	248	14	the	the	DET
ajfa-82	248	15	only	only	ADJ
ajfa-82	248	16	way	way	NOUN
ajfa-82	248	17	to	to	PART
ajfa-82	248	18	shed	shed	VERB
ajfa-82	248	19	more	more	ADJ
ajfa-82	248	20	light	light	NOUN
ajfa-82	248	21	on	on	ADP
ajfa-82	248	22	the	the	DET
ajfa-82	248	23	behaviour	behaviour	NOUN
ajfa-82	248	24	of	of	ADP
ajfa-82	248	25	individual	individual	ADJ
ajfa-82	248	26	smsf	smsf	PROPN
ajfa-82	248	27	trustees	trustee	NOUN
ajfa-82	248	28	.	.	PUNCT
ajfa-82	249	1	the	the	DET
ajfa-82	249	2	actual	actual	ADJ
ajfa-82	249	3	cash	cash	NOUN
ajfa-82	249	4	allocations	allocation	NOUN
ajfa-82	249	5	—	—	PUNCT
ajfa-82	249	6	not	not	PART
ajfa-82	249	7	averages	average	NOUN
ajfa-82	249	8	—	—	PUNCT
ajfa-82	249	9	of	of	ADP
ajfa-82	249	10	the	the	DET
ajfa-82	249	11	funds	fund	NOUN
ajfa-82	249	12	in	in	ADP
ajfa-82	249	13	the	the	DET
ajfa-82	249	14	100	100	NUM
ajfa-82	249	15	-	-	PUNCT
ajfa-82	249	16	portfolio	portfolio	NOUN
ajfa-82	249	17	sample	sample	NOUN
ajfa-82	249	18	are	be	AUX
ajfa-82	249	19	presented	present	VERB
ajfa-82	249	20	in	in	ADP
ajfa-82	249	21	figures	figure	NOUN
ajfa-82	249	22	3	3	NUM
ajfa-82	249	23	and	and	CCONJ
ajfa-82	249	24	below	below	ADV
ajfa-82	249	25	,	,	PUNCT
ajfa-82	249	26	which	which	PRON
ajfa-82	249	27	display	display	VERB
ajfa-82	249	28	the	the	DET
ajfa-82	249	29	dollar	dollar	NOUN
ajfa-82	249	30	allocations	allocation	NOUN
ajfa-82	249	31	and	and	CCONJ
ajfa-82	249	32	percentage	percentage	NOUN
ajfa-82	249	33	allocations	allocation	NOUN
ajfa-82	249	34	respectively	respectively	ADV
ajfa-82	249	35	.	.	PUNCT
ajfa-82	250	1	these	these	PRON
ajfa-82	250	2	have	have	AUX
ajfa-82	250	3	been	be	AUX
ajfa-82	250	4	ordered	order	VERB
ajfa-82	250	5	(	(	PUNCT
ajfa-82	250	6	lowest	low	ADJ
ajfa-82	250	7	to	to	ADP
ajfa-82	250	8	highest	high	ADJ
ajfa-82	250	9	)	)	PUNCT
ajfa-82	250	10	to	to	PART
ajfa-82	250	11	permit	permit	VERB
ajfa-82	250	12	easier	easy	ADJ
ajfa-82	250	13	inspection	inspection	NOUN
ajfa-82	250	14	of	of	ADP
ajfa-82	250	15	the	the	DET
ajfa-82	250	16	data	datum	NOUN
ajfa-82	250	17	.	.	PUNCT
ajfa-82	251	1	asian	asian	ADJ
ajfa-82	251	2	journal	journal	PROPN
ajfa-82	251	3	of	of	ADP
ajfa-82	251	4	finance	finance	PROPN
ajfa-82	251	5	&	&	CCONJ
ajfa-82	251	6	accounting	accounting	PROPN
ajfa-82	251	7	issn	issn	PROPN
ajfa-82	251	8	1946	1946	NUM
ajfa-82	251	9	-	-	PUNCT
ajfa-82	251	10	052x	052x	NOUN
ajfa-82	251	11	2009	2009	NUM
ajfa-82	251	12	,	,	PUNCT
ajfa-82	251	13	vol	vol	NOUN
ajfa-82	251	14	.	.	PROPN
ajfa-82	251	15	1	1	NUM
ajfa-82	251	16	,	,	PUNCT
ajfa-82	251	17	no	no	INTJ
ajfa-82	251	18	.	.	NOUN
ajfa-82	251	19	1	1	NUM
ajfa-82	251	20	:	:	PUNCT
ajfa-82	251	21	e1	e1	VERB
ajfa-82	251	22	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	251	23	70	70	NUM
ajfa-82	251	24	3	3	NUM
ajfa-82	251	25	.	.	PUNCT
ajfa-82	252	1	smsf	smsf	PROPN
ajfa-82	252	2	dollar	dollar	NOUN
ajfa-82	252	3	allocations	allocation	NOUN
ajfa-82	252	4	to	to	ADP
ajfa-82	252	5	cash	cash	NOUN
ajfa-82	252	6	:	:	PUNCT
ajfa-82	252	7	100	100	NUM
ajfa-82	252	8	-	-	PUNCT
ajfa-82	252	9	portfolio	portfolio	NOUN
ajfa-82	252	10	sample	sample	NOUN
ajfa-82	252	11	figure	figure	NOUN
ajfa-82	252	12	4	4	NUM
ajfa-82	252	13	.	.	PUNCT
ajfa-82	253	1	smsf	smsf	PROPN
ajfa-82	253	2	percentage	percentage	NOUN
ajfa-82	253	3	allocations	allocation	NOUN
ajfa-82	253	4	to	to	ADP
ajfa-82	253	5	cash	cash	NOUN
ajfa-82	253	6	:	:	PUNCT
ajfa-82	253	7	100	100	NUM
ajfa-82	253	8	-	-	PUNCT
ajfa-82	253	9	portfolio	portfolio	NOUN
ajfa-82	253	10	sample	sample	NOUN
ajfa-82	253	11	it	it	PRON
ajfa-82	253	12	is	be	AUX
ajfa-82	253	13	clear	clear	ADJ
ajfa-82	253	14	from	from	ADP
ajfa-82	253	15	the	the	DET
ajfa-82	253	16	data	datum	NOUN
ajfa-82	253	17	presented	present	VERB
ajfa-82	253	18	in	in	ADP
ajfa-82	253	19	figures	figure	NOUN
ajfa-82	253	20	3	3	NUM
ajfa-82	253	21	and	and	CCONJ
ajfa-82	253	22	4	4	NUM
ajfa-82	253	23	that	that	PRON
ajfa-82	253	24	,	,	PUNCT
ajfa-82	253	25	whilst	whilst	SCONJ
ajfa-82	253	26	the	the	DET
ajfa-82	253	27	average	average	ADJ
ajfa-82	253	28	cash	cash	NOUN
ajfa-82	253	29	allocation	allocation	NOUN
ajfa-82	253	30	for	for	ADP
ajfa-82	253	31	these	these	DET
ajfa-82	253	32	funds	fund	NOUN
ajfa-82	253	33	is	be	AUX
ajfa-82	253	34	11	11	NUM
ajfa-82	253	35	percent	percent	NOUN
ajfa-82	253	36	,	,	PUNCT
ajfa-82	253	37	a	a	DET
ajfa-82	253	38	number	number	NOUN
ajfa-82	253	39	of	of	ADP
ajfa-82	253	40	funds	fund	NOUN
ajfa-82	253	41	exhibit	exhibit	VERB
ajfa-82	253	42	much	much	ADV
ajfa-82	253	43	higher	high	ADJ
ajfa-82	253	44	allocations	allocation	NOUN
ajfa-82	253	45	.	.	PUNCT
ajfa-82	254	1	some	some	PRON
ajfa-82	254	2	of	of	ADP
ajfa-82	254	3	these	these	DET
ajfa-82	254	4	allocations	allocation	NOUN
ajfa-82	254	5	may	may	AUX
ajfa-82	254	6	be	be	AUX
ajfa-82	254	7	explained	explain	VERB
ajfa-82	254	8	as	as	ADP
ajfa-82	254	9	temporary	temporary	ADJ
ajfa-82	254	10	cash	cash	NOUN
ajfa-82	254	11	allocations	allocation	NOUN
ajfa-82	254	12	of	of	ADP
ajfa-82	254	13	newly	newly	ADV
ajfa-82	254	14	established	establish	VERB
ajfa-82	254	15	smsfs	smsfs	NOUN
ajfa-82	254	16	.	.	PUNCT
ajfa-82	255	1	this	this	PRON
ajfa-82	255	2	is	be	AUX
ajfa-82	255	3	the	the	DET
ajfa-82	255	4	case	case	NOUN
ajfa-82	255	5	for	for	ADP
ajfa-82	255	6	fund	fund	NOUN
ajfa-82	255	7	80	80	NUM
ajfa-82	255	8	(	(	PUNCT
ajfa-82	255	9	see	see	VERB
ajfa-82	255	10	figure	figure	NOUN
ajfa-82	255	11	3	3	NUM
ajfa-82	255	12	)	)	PUNCT
ajfa-82	255	13	.	.	PUNCT
ajfa-82	256	1	however	however	ADV
ajfa-82	256	2	,	,	PUNCT
ajfa-82	256	3	funds	fund	NOUN
ajfa-82	256	4	84	84	NUM
ajfa-82	256	5	and	and	CCONJ
ajfa-82	256	6	91	91	NUM
ajfa-82	256	7	(	(	PUNCT
ajfa-82	256	8	figure	figure	NOUN
ajfa-82	256	9	3	3	NUM
ajfa-82	256	10	)	)	PUNCT
ajfa-82	256	11	have	have	AUX
ajfa-82	256	12	been	be	AUX
ajfa-82	256	13	long	long	ADV
ajfa-82	256	14	established	establish	VERB
ajfa-82	256	15	,	,	PUNCT
ajfa-82	256	16	as	as	SCONJ
ajfa-82	256	17	have	have	VERB
ajfa-82	256	18	all	all	PRON
ajfa-82	256	19	of	of	ADP
ajfa-82	256	20	the	the	DET
ajfa-82	256	21	other	other	ADJ
ajfa-82	256	22	funds	fund	NOUN
ajfa-82	256	23	with	with	ADP
ajfa-82	256	24	20	20	NUM
ajfa-82	256	25	+	+	NUM
ajfa-82	256	26	percent	percent	NOUN
ajfa-82	256	27	allocations	allocation	NOUN
ajfa-82	256	28	to	to	ADP
ajfa-82	256	29	cash	cash	NOUN
ajfa-82	256	30	.	.	PUNCT
ajfa-82	257	1	when	when	SCONJ
ajfa-82	257	2	the	the	DET
ajfa-82	257	3	funds	fund	NOUN
ajfa-82	257	4	are	be	AUX
ajfa-82	257	5	examined	examine	VERB
ajfa-82	257	6	individually	individually	ADV
ajfa-82	257	7	,	,	PUNCT
ajfa-82	257	8	marked	mark	VERB
ajfa-82	257	9	deviations	deviation	NOUN
ajfa-82	257	10	from	from	ADP
ajfa-82	257	11	the	the	DET
ajfa-82	257	12	averages	average	NOUN
ajfa-82	257	13	presented	present	VERB
ajfa-82	257	14	in	in	ADP
ajfa-82	257	15	aggregated	aggregated	ADJ
ajfa-82	257	16	data	datum	NOUN
ajfa-82	257	17	emerge	emerge	VERB
ajfa-82	257	18	.	.	PUNCT
ajfa-82	258	1	at	at	ADV
ajfa-82	258	2	least	least	ADV
ajfa-82	258	3	10	10	NUM
ajfa-82	258	4	to	to	PART
ajfa-82	258	5	15	15	NUM
ajfa-82	258	6	percent	percent	NOUN
ajfa-82	258	7	of	of	ADP
ajfa-82	258	8	the	the	DET
ajfa-82	258	9	funds	fund	NOUN
ajfa-82	258	10	in	in	ADP
ajfa-82	258	11	the	the	DET
ajfa-82	258	12	100	100	NUM
ajfa-82	258	13	-	-	PUNCT
ajfa-82	258	14	portfolio	portfolio	NOUN
ajfa-82	258	15	sample	sample	NOUN
ajfa-82	258	16	have	have	VERB
ajfa-82	258	17	extremely	extremely	ADV
ajfa-82	258	18	high	high	ADJ
ajfa-82	258	19	cash	cash	NOUN
ajfa-82	258	20	allocations	allocation	NOUN
ajfa-82	258	21	.	.	PUNCT
ajfa-82	259	1	investments	investment	NOUN
ajfa-82	259	2	in	in	ADP
ajfa-82	259	3	fixed	fix	VERB
ajfa-82	259	4	income	income	NOUN
ajfa-82	259	5	securities	security	NOUN
ajfa-82	259	6	are	be	AUX
ajfa-82	259	7	far	far	ADV
ajfa-82	259	8	from	from	ADP
ajfa-82	259	9	risk	risk	NOUN
ajfa-82	259	10	-	-	PUNCT
ajfa-82	259	11	free	free	ADJ
ajfa-82	259	12	and	and	CCONJ
ajfa-82	259	13	were	be	AUX
ajfa-82	259	14	considered	consider	VERB
ajfa-82	259	15	to	to	PART
ajfa-82	259	16	be	be	AUX
ajfa-82	259	17	risky	risky	ADJ
ajfa-82	259	18	assets	asset	NOUN
ajfa-82	259	19	for	for	ADP
ajfa-82	259	20	the	the	DET
ajfa-82	259	21	purposes	purpose	NOUN
ajfa-82	259	22	of	of	ADP
ajfa-82	259	23	the	the	DET
ajfa-82	259	24	analysis	analysis	NOUN
ajfa-82	259	25	presented	present	VERB
ajfa-82	259	26	previously	previously	ADV
ajfa-82	259	27	.	.	PUNCT
ajfa-82	260	1	the	the	DET
ajfa-82	260	2	allocations	allocation	NOUN
ajfa-82	260	3	to	to	ADP
ajfa-82	260	4	both	both	CCONJ
ajfa-82	260	5	cash	cash	NOUN
ajfa-82	260	6	and	and	CCONJ
ajfa-82	260	7	fixed	fix	VERB
ajfa-82	260	8	income	income	NOUN
ajfa-82	260	9	securities	security	NOUN
ajfa-82	260	10	within	within	ADP
ajfa-82	260	11	smsfs	smsfs	PROPN
ajfa-82	260	12	are	be	AUX
ajfa-82	260	13	important	important	ADJ
ajfa-82	260	14	pieces	piece	NOUN
ajfa-82	260	15	of	of	ADP
ajfa-82	260	16	information	information	NOUN
ajfa-82	260	17	for	for	ADP
ajfa-82	260	18	economists	economist	NOUN
ajfa-82	260	19	and	and	CCONJ
ajfa-82	260	20	policy	policy	NOUN
ajfa-82	260	21	-	-	PUNCT
ajfa-82	260	22	makers	maker	NOUN
ajfa-82	260	23	to	to	PART
ajfa-82	260	24	be	be	AUX
ajfa-82	260	25	aware	aware	ADJ
ajfa-82	260	26	of	of	ADP
ajfa-82	260	27	.	.	PUNCT
ajfa-82	261	1	the	the	DET
ajfa-82	261	2	allocations	allocation	NOUN
ajfa-82	261	3	to	to	ADP
ajfa-82	261	4	fixed	fix	VERB
ajfa-82	261	5	income	income	NOUN
ajfa-82	261	6	securities	security	NOUN
ajfa-82	261	7	for	for	ADP
ajfa-82	261	8	each	each	PRON
ajfa-82	261	9	of	of	ADP
ajfa-82	261	10	the	the	DET
ajfa-82	261	11	funds	fund	NOUN
ajfa-82	261	12	in	in	ADP
ajfa-82	261	13	the	the	DET
ajfa-82	261	14	100	100	NUM
ajfa-82	261	15	-	-	PUNCT
ajfa-82	261	16	portfolio	portfolio	NOUN
ajfa-82	261	17	sample	sample	NOUN
ajfa-82	261	18	are	be	AUX
ajfa-82	261	19	presented	present	VERB
ajfa-82	261	20	in	in	ADP
ajfa-82	261	21	figure	figure	NOUN
ajfa-82	261	22	5	5	NUM
ajfa-82	261	23	.	.	PUNCT
ajfa-82	261	24	asian	asian	ADJ
ajfa-82	261	25	journal	journal	PROPN
ajfa-82	261	26	of	of	ADP
ajfa-82	261	27	finance	finance	PROPN
ajfa-82	261	28	&	&	CCONJ
ajfa-82	261	29	accounting	accounting	PROPN
ajfa-82	261	30	issn	issn	PROPN
ajfa-82	261	31	1946	1946	NUM
ajfa-82	261	32	-	-	PUNCT
ajfa-82	261	33	052x	052x	NOUN
ajfa-82	261	34	2009	2009	NUM
ajfa-82	261	35	,	,	PUNCT
ajfa-82	261	36	vol	vol	NOUN
ajfa-82	261	37	.	.	PROPN
ajfa-82	262	1	1	1	NUM
ajfa-82	262	2	,	,	PUNCT
ajfa-82	262	3	no	no	INTJ
ajfa-82	262	4	.	.	NOUN
ajfa-82	262	5	1	1	NUM
ajfa-82	262	6	:	:	PUNCT
ajfa-82	262	7	e1	e1	VERB
ajfa-82	262	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	262	9	71	71	NUM
ajfa-82	262	10	figure	figure	NOUN
ajfa-82	262	11	5	5	NUM
ajfa-82	262	12	.	.	PUNCT
ajfa-82	263	1	smsf	smsf	PROPN
ajfa-82	263	2	dollar	dollar	NOUN
ajfa-82	263	3	allocations	allocation	NOUN
ajfa-82	263	4	to	to	ADP
ajfa-82	263	5	fixed	fix	VERB
ajfa-82	263	6	income	income	NOUN
ajfa-82	263	7	:	:	PUNCT
ajfa-82	263	8	100	100	NUM
ajfa-82	263	9	-	-	PUNCT
ajfa-82	263	10	portfolio	portfolio	NOUN
ajfa-82	263	11	sample	sample	NOUN
ajfa-82	263	12	the	the	DET
ajfa-82	263	13	average	average	ADJ
ajfa-82	263	14	investment	investment	NOUN
ajfa-82	263	15	in	in	ADP
ajfa-82	263	16	fixed	fix	VERB
ajfa-82	263	17	income	income	NOUN
ajfa-82	263	18	securities	security	NOUN
ajfa-82	263	19	is	be	AUX
ajfa-82	263	20	13	13	NUM
ajfa-82	263	21	percent	percent	NOUN
ajfa-82	263	22	but	but	CCONJ
ajfa-82	263	23	the	the	DET
ajfa-82	263	24	percentage	percentage	NOUN
ajfa-82	263	25	investments	investment	NOUN
ajfa-82	263	26	can	can	AUX
ajfa-82	263	27	be	be	AUX
ajfa-82	263	28	quite	quite	ADV
ajfa-82	263	29	considerable	considerable	ADJ
ajfa-82	263	30	when	when	SCONJ
ajfa-82	263	31	the	the	DET
ajfa-82	263	32	smsfs	smsfs	NOUN
ajfa-82	263	33	are	be	AUX
ajfa-82	263	34	examined	examine	VERB
ajfa-82	263	35	individually	individually	ADV
ajfa-82	263	36	rather	rather	ADV
ajfa-82	263	37	than	than	ADP
ajfa-82	263	38	in	in	ADP
ajfa-82	263	39	aggregate	aggregate	NOUN
ajfa-82	263	40	.	.	PUNCT
ajfa-82	264	1	for	for	ADP
ajfa-82	264	2	many	many	ADJ
ajfa-82	264	3	of	of	ADP
ajfa-82	264	4	the	the	DET
ajfa-82	264	5	smsfs	smsfs	NOUN
ajfa-82	264	6	in	in	ADP
ajfa-82	264	7	this	this	DET
ajfa-82	264	8	part	part	NOUN
ajfa-82	264	9	of	of	ADP
ajfa-82	264	10	the	the	DET
ajfa-82	264	11	sample	sample	NOUN
ajfa-82	264	12	,	,	PUNCT
ajfa-82	264	13	an	an	DET
ajfa-82	264	14	allocation	allocation	NOUN
ajfa-82	264	15	of	of	ADP
ajfa-82	264	16	more	more	ADJ
ajfa-82	264	17	than	than	ADP
ajfa-82	264	18	20	20	NUM
ajfa-82	264	19	percent	percent	NOUN
ajfa-82	264	20	of	of	ADP
ajfa-82	264	21	investable	investable	ADJ
ajfa-82	264	22	funds	fund	NOUN
ajfa-82	264	23	to	to	ADP
ajfa-82	264	24	fixed	fix	VERB
ajfa-82	264	25	income	income	NOUN
ajfa-82	264	26	securities	security	NOUN
ajfa-82	264	27	is	be	AUX
ajfa-82	264	28	clearly	clearly	ADV
ajfa-82	264	29	evident	evident	ADJ
ajfa-82	264	30	from	from	ADP
ajfa-82	264	31	the	the	DET
ajfa-82	264	32	data	datum	NOUN
ajfa-82	264	33	presented	present	VERB
ajfa-82	264	34	in	in	ADP
ajfa-82	264	35	figure	figure	NOUN
ajfa-82	264	36	6	6	NUM
ajfa-82	264	37	.	.	PUNCT
ajfa-82	264	38	figure	figure	VERB
ajfa-82	264	39	6	6	NUM
ajfa-82	264	40	.	.	PUNCT
ajfa-82	265	1	smsf	smsf	PROPN
ajfa-82	265	2	percentage	percentage	NOUN
ajfa-82	265	3	allocations	allocation	NOUN
ajfa-82	265	4	to	to	ADP
ajfa-82	265	5	fixed	fix	VERB
ajfa-82	265	6	income	income	NOUN
ajfa-82	265	7	:	:	PUNCT
ajfa-82	265	8	100	100	NUM
ajfa-82	265	9	-	-	PUNCT
ajfa-82	265	10	portfolio	portfolio	NOUN
ajfa-82	265	11	sample	sample	NOUN
ajfa-82	265	12	in	in	ADP
ajfa-82	265	13	order	order	NOUN
ajfa-82	265	14	to	to	PART
ajfa-82	265	15	complete	complete	VERB
ajfa-82	265	16	the	the	DET
ajfa-82	265	17	analysis	analysis	NOUN
ajfa-82	265	18	of	of	ADP
ajfa-82	265	19	the	the	DET
ajfa-82	265	20	relationship	relationship	NOUN
ajfa-82	265	21	between	between	ADP
ajfa-82	265	22	fund	fund	NOUN
ajfa-82	265	23	size	size	NOUN
ajfa-82	265	24	and	and	CCONJ
ajfa-82	265	25	allocations	allocation	NOUN
ajfa-82	265	26	to	to	ADP
ajfa-82	265	27	risky	risky	ADJ
ajfa-82	265	28	assets	asset	NOUN
ajfa-82	265	29	,	,	PUNCT
ajfa-82	265	30	it	it	PRON
ajfa-82	265	31	is	be	AUX
ajfa-82	265	32	certainly	certainly	ADV
ajfa-82	265	33	worthwhile	worthwhile	ADJ
ajfa-82	265	34	considering	consider	VERB
ajfa-82	265	35	the	the	DET
ajfa-82	265	36	relationship	relationship	NOUN
ajfa-82	265	37	between	between	ADP
ajfa-82	265	38	fund	fund	NOUN
ajfa-82	265	39	size	size	NOUN
ajfa-82	265	40	and	and	CCONJ
ajfa-82	265	41	allocations	allocation	NOUN
ajfa-82	265	42	to	to	ADP
ajfa-82	265	43	cash	cash	NOUN
ajfa-82	265	44	,	,	PUNCT
ajfa-82	265	45	risky	risky	ADJ
ajfa-82	265	46	assets	asset	NOUN
ajfa-82	265	47	and	and	CCONJ
ajfa-82	265	48	fixed	fix	VERB
ajfa-82	265	49	income	income	NOUN
ajfa-82	265	50	securities	security	NOUN
ajfa-82	265	51	with	with	ADP
ajfa-82	265	52	the	the	DET
ajfa-82	265	53	additional	additional	ADJ
ajfa-82	265	54	power	power	NOUN
ajfa-82	265	55	that	that	PRON
ajfa-82	265	56	may	may	AUX
ajfa-82	265	57	attend	attend	VERB
ajfa-82	265	58	the	the	DET
ajfa-82	265	59	deployment	deployment	NOUN
ajfa-82	265	60	of	of	ADP
ajfa-82	265	61	regression	regression	NOUN
ajfa-82	265	62	analysis	analysis	NOUN
ajfa-82	265	63	.	.	PUNCT
ajfa-82	266	1	to	to	ADP
ajfa-82	266	2	this	this	DET
ajfa-82	266	3	end	end	NOUN
ajfa-82	266	4	,	,	PUNCT
ajfa-82	266	5	three	three	NUM
ajfa-82	266	6	log	log	NOUN
ajfa-82	266	7	-	-	PUNCT
ajfa-82	266	8	linear	linear	NOUN
ajfa-82	266	9	regressions	regression	NOUN
ajfa-82	266	10	were	be	AUX
ajfa-82	266	11	undertaken	undertake	VERB
ajfa-82	266	12	.	.	PUNCT
ajfa-82	267	1	formally	formally	ADV
ajfa-82	267	2	,	,	PUNCT
ajfa-82	267	3	in	in	ADP
ajfa-82	267	4	each	each	PRON
ajfa-82	267	5	of	of	ADP
ajfa-82	267	6	three	three	NUM
ajfa-82	267	7	cases	case	NOUN
ajfa-82	267	8	,	,	PUNCT
ajfa-82	267	9	the	the	DET
ajfa-82	267	10	log	log	NOUN
ajfa-82	267	11	-	-	PUNCT
ajfa-82	267	12	linear	linear	NOUN
ajfa-82	267	13	regression	regression	NOUN
ajfa-82	267	14	equation	equation	NOUN
ajfa-82	267	15	that	that	PRON
ajfa-82	267	16	is	be	AUX
ajfa-82	267	17	analysed	analyse	VERB
ajfa-82	267	18	herein	herein	NOUN
ajfa-82	267	19	(	(	PUNCT
ajfa-82	267	20	with	with	SCONJ
ajfa-82	267	21	the	the	DET
ajfa-82	267	22	data	datum	NOUN
ajfa-82	267	23	transformed	transform	VERB
ajfa-82	267	24	by	by	ADP
ajfa-82	267	25	natural	natural	ADJ
ajfa-82	267	26	logarithms	logarithm	NOUN
ajfa-82	267	27	)	)	PUNCT
ajfa-82	267	28	is	be	AUX
ajfa-82	267	29	presented	present	VERB
ajfa-82	267	30	below	below	ADV
ajfa-82	267	31	.	.	PUNCT
ajfa-82	268	1	ordinary	ordinary	ADJ
ajfa-82	268	2	least	least	ADJ
ajfa-82	268	3	squares	square	NOUN
ajfa-82	268	4	is	be	AUX
ajfa-82	268	5	used	use	VERB
ajfa-82	268	6	to	to	PART
ajfa-82	268	7	estimate	estimate	VERB
ajfa-82	268	8	the	the	DET
ajfa-82	268	9	regression	regression	NOUN
ajfa-82	268	10	equation	equation	NOUN
ajfa-82	268	11	:	:	PUNCT
ajfa-82	269	1	iii	iii	X
ajfa-82	269	2	uxy	uxy	PROPN
ajfa-82	269	3	121	121	NUM
ajfa-82	269	4	lnln	lnln	NOUN
ajfa-82	269	5	(	(	PUNCT
ajfa-82	269	6	4	4	NUM
ajfa-82	269	7	)	)	PUNCT
ajfa-82	269	8	asian	asian	ADJ
ajfa-82	269	9	journal	journal	NOUN
ajfa-82	269	10	of	of	ADP
ajfa-82	269	11	finance	finance	PROPN
ajfa-82	269	12	&	&	CCONJ
ajfa-82	269	13	accounting	accounting	PROPN
ajfa-82	269	14	issn	issn	PROPN
ajfa-82	269	15	1946	1946	NUM
ajfa-82	269	16	-	-	PUNCT
ajfa-82	269	17	052x	052x	NOUN
ajfa-82	269	18	2009	2009	NUM
ajfa-82	269	19	,	,	PUNCT
ajfa-82	269	20	vol	vol	NOUN
ajfa-82	269	21	.	.	PROPN
ajfa-82	270	1	1	1	NUM
ajfa-82	270	2	,	,	PUNCT
ajfa-82	270	3	no	no	INTJ
ajfa-82	270	4	.	.	NOUN
ajfa-82	270	5	1	1	NUM
ajfa-82	270	6	:	:	PUNCT
ajfa-82	270	7	e1	e1	VERB
ajfa-82	270	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	270	9	72	72	NUM
ajfa-82	270	10	where	where	SCONJ
ajfa-82	270	11	the	the	DET
ajfa-82	270	12	dependent	dependent	ADJ
ajfa-82	270	13	variable	variable	ADJ
ajfa-82	270	14	yi	yi	PROPN
ajfa-82	270	15	is	be	AUX
ajfa-82	270	16	the	the	DET
ajfa-82	270	17	percentage	percentage	NOUN
ajfa-82	270	18	allocation	allocation	NOUN
ajfa-82	270	19	to	to	ADP
ajfa-82	270	20	(	(	PUNCT
ajfa-82	270	21	1	1	X
ajfa-82	270	22	)	)	PUNCT
ajfa-82	270	23	fixed	fix	VERB
ajfa-82	270	24	income	income	NOUN
ajfa-82	270	25	securities	security	NOUN
ajfa-82	270	26	of	of	ADP
ajfa-82	270	27	smsf	smsf	PROPN
ajfa-82	270	28	i	i	PRON
ajfa-82	270	29	;	;	PUNCT
ajfa-82	270	30	(	(	PUNCT
ajfa-82	270	31	2	2	X
ajfa-82	270	32	)	)	PUNCT
ajfa-82	270	33	cash	cash	NOUN
ajfa-82	270	34	of	of	ADP
ajfa-82	270	35	smsf	smsf	PROPN
ajfa-82	270	36	i	i	PROPN
ajfa-82	270	37	;	;	PUNCT
ajfa-82	270	38	and	and	CCONJ
ajfa-82	270	39	(	(	PUNCT
ajfa-82	270	40	3	3	X
ajfa-82	270	41	)	)	PUNCT
ajfa-82	270	42	risky	risky	ADJ
ajfa-82	270	43	assets	asset	NOUN
ajfa-82	270	44	of	of	ADP
ajfa-82	270	45	smsf	smsf	PROPN
ajfa-82	270	46	i	i	PROPN
ajfa-82	270	47	,	,	PUNCT
ajfa-82	270	48	respectively	respectively	ADV
ajfa-82	270	49	,	,	PUNCT
ajfa-82	270	50	and	and	CCONJ
ajfa-82	270	51	the	the	DET
ajfa-82	270	52	independent	independent	ADJ
ajfa-82	270	53	variable	variable	NOUN
ajfa-82	270	54	x1i	x1i	PROPN
ajfa-82	270	55	is	be	AUX
ajfa-82	270	56	the	the	DET
ajfa-82	270	57	size	size	NOUN
ajfa-82	270	58	of	of	ADP
ajfa-82	270	59	fund	fund	NOUN
ajfa-82	270	60	of	of	ADP
ajfa-82	270	61	the	the	DET
ajfa-82	270	62	i	i	PROPN
ajfa-82	270	63	th	th	PROPN
ajfa-82	270	64	smsf	smsf	PROPN
ajfa-82	270	65	.	.	PUNCT
ajfa-82	271	1	the	the	DET
ajfa-82	271	2	results	result	NOUN
ajfa-82	271	3	of	of	ADP
ajfa-82	271	4	the	the	DET
ajfa-82	271	5	regression	regression	NOUN
ajfa-82	271	6	estimations	estimation	NOUN
ajfa-82	271	7	are	be	AUX
ajfa-82	271	8	presented	present	VERB
ajfa-82	271	9	below	below	ADV
ajfa-82	271	10	:	:	PUNCT
ajfa-82	271	11	regression	regression	VERB
ajfa-82	271	12	analysis	analysis	NOUN
ajfa-82	271	13	:	:	PUNCT
ajfa-82	271	14	fixed	fix	VERB
ajfa-82	271	15	income	income	NOUN
ajfa-82	271	16	securities	security	NOUN
ajfa-82	271	17	and	and	CCONJ
ajfa-82	271	18	fund	fund	NOUN
ajfa-82	271	19	size	size	NOUN
ajfa-82	271	20	067.0r057.0r	067.0r057.0r	NOUN
ajfa-82	271	21	65.262.1	65.262.1	NUM
ajfa-82	271	22	)	)	PUNCT
ajfa-82	271	23	144.0()91.1	144.0()91.1	NUM
ajfa-82	271	24	(	(	PUNCT
ajfa-82	271	25	ln3834.010.3ˆln	ln3834.010.3ˆln	VERB
ajfa-82	271	26	22	22	NUM
ajfa-82	271	27	1	1	NUM
ajfa-82	271	28	t	t	NOUN
ajfa-82	271	29	xy	xy	PROPN
ajfa-82	271	30	ii	ii	PROPN
ajfa-82	271	31	(	(	PUNCT
ajfa-82	271	32	5	5	NUM
ajfa-82	271	33	)	)	PUNCT
ajfa-82	271	34	regression	regression	NOUN
ajfa-82	271	35	analysis	analysis	NOUN
ajfa-82	271	36	:	:	PUNCT
ajfa-82	271	37	cash	cash	NOUN
ajfa-82	271	38	and	and	CCONJ
ajfa-82	271	39	fund	fund	NOUN
ajfa-82	271	40	size	size	NOUN
ajfa-82	271	41	028.0r01814.0r	028.0r01814.0r	NUM
ajfa-82	271	42	682.1286.0	682.1286.0	NUM
ajfa-82	271	43	)	)	PUNCT
ajfa-82	271	44	1541.0()04.2	1541.0()04.2	NUM
ajfa-82	271	45	(	(	PUNCT
ajfa-82	271	46	ln2593.05850.0ˆln	ln2593.05850.0ˆln	NUM
ajfa-82	271	47	22	22	NUM
ajfa-82	271	48	1	1	NUM
ajfa-82	271	49	t	t	NOUN
ajfa-82	271	50	xy	xy	PROPN
ajfa-82	271	51	ii	ii	PROPN
ajfa-82	271	52	(	(	PUNCT
ajfa-82	271	53	6	6	NUM
ajfa-82	271	54	)	)	PUNCT
ajfa-82	271	55	regression	regression	NOUN
ajfa-82	271	56	analysis	analysis	NOUN
ajfa-82	271	57	:	:	PUNCT
ajfa-82	271	58	risky	risky	ADJ
ajfa-82	271	59	assets	asset	NOUN
ajfa-82	271	60	and	and	CCONJ
ajfa-82	271	61	fund	fund	NOUN
ajfa-82	271	62	size	size	NOUN
ajfa-82	271	63	0245.0r0145.0r	0245.0r0145.0r	NOUN
ajfa-82	271	64	5697.193.1	5697.193.1	NUM
ajfa-82	271	65	)	)	PUNCT
ajfa-82	271	66	0607.0()8042.0	0607.0()8042.0	PROPN
ajfa-82	271	67	(	(	PUNCT
ajfa-82	271	68	ln09533.055.1ˆln	ln09533.055.1ˆln	VERB
ajfa-82	271	69	22	22	NUM
ajfa-82	271	70	1	1	NUM
ajfa-82	271	71	t	t	NOUN
ajfa-82	271	72	xy	xy	PROPN
ajfa-82	271	73	ii	ii	PROPN
ajfa-82	271	74	(	(	PUNCT
ajfa-82	271	75	7	7	X
ajfa-82	271	76	)	)	PUNCT
ajfa-82	271	77	the	the	DET
ajfa-82	271	78	numbers	number	NOUN
ajfa-82	271	79	in	in	ADP
ajfa-82	271	80	the	the	DET
ajfa-82	271	81	parentheses	parenthesis	NOUN
ajfa-82	271	82	are	be	AUX
ajfa-82	271	83	the	the	DET
ajfa-82	271	84	ols	ol	NOUN
ajfa-82	271	85	standard	standard	ADJ
ajfa-82	271	86	errors	error	NOUN
ajfa-82	271	87	.	.	PUNCT
ajfa-82	272	1	the	the	DET
ajfa-82	272	2	ratio	ratio	NOUN
ajfa-82	272	3	of	of	ADP
ajfa-82	272	4	the	the	DET
ajfa-82	272	5	explained	explain	VERB
ajfa-82	272	6	sum	sum	NOUN
ajfa-82	272	7	of	of	ADP
ajfa-82	272	8	squares	square	NOUN
ajfa-82	272	9	to	to	ADP
ajfa-82	272	10	the	the	DET
ajfa-82	272	11	total	total	ADJ
ajfa-82	272	12	sum	sum	NOUN
ajfa-82	272	13	of	of	ADP
ajfa-82	272	14	squares	square	NOUN
ajfa-82	272	15	is	be	AUX
ajfa-82	272	16	very	very	ADV
ajfa-82	272	17	low	low	ADJ
ajfa-82	272	18	for	for	ADP
ajfa-82	272	19	each	each	PRON
ajfa-82	272	20	of	of	ADP
ajfa-82	272	21	three	three	NUM
ajfa-82	272	22	regressions	regression	NOUN
ajfa-82	272	23	.	.	PUNCT
ajfa-82	273	1	the	the	DET
ajfa-82	273	2	anova	anova	PROPN
ajfa-82	273	3	statistics	statistic	NOUN
ajfa-82	273	4	reveal	reveal	VERB
ajfa-82	273	5	that	that	SCONJ
ajfa-82	273	6	,	,	PUNCT
ajfa-82	273	7	in	in	ADP
ajfa-82	273	8	each	each	DET
ajfa-82	273	9	regression	regression	NOUN
ajfa-82	273	10	,	,	PUNCT
ajfa-82	273	11	the	the	DET
ajfa-82	273	12	regression	regression	NOUN
ajfa-82	273	13	only	only	ADV
ajfa-82	273	14	explains	explain	VERB
ajfa-82	273	15	a	a	DET
ajfa-82	273	16	very	very	ADV
ajfa-82	273	17	insignificant	insignificant	ADJ
ajfa-82	273	18	amount	amount	NOUN
ajfa-82	273	19	of	of	ADP
ajfa-82	273	20	the	the	DET
ajfa-82	273	21	variation	variation	NOUN
ajfa-82	273	22	in	in	ADP
ajfa-82	273	23	the	the	DET
ajfa-82	273	24	dependent	dependent	ADJ
ajfa-82	273	25	variable	variable	NOUN
ajfa-82	273	26	(	(	PUNCT
ajfa-82	273	27	the	the	DET
ajfa-82	273	28	natural	natural	ADJ
ajfa-82	273	29	logarithm	logarithm	NOUN
ajfa-82	273	30	of	of	ADP
ajfa-82	273	31	the	the	DET
ajfa-82	273	32	smsf	smsf	PROPN
ajfa-82	273	33	size	size	NOUN
ajfa-82	273	34	)	)	PUNCT
ajfa-82	273	35	.	.	PUNCT
ajfa-82	274	1	despite	despite	SCONJ
ajfa-82	274	2	the	the	DET
ajfa-82	274	3	low	low	ADJ
ajfa-82	274	4	explanatory	explanatory	ADJ
ajfa-82	274	5	power	power	NOUN
ajfa-82	274	6	,	,	PUNCT
ajfa-82	274	7	the	the	DET
ajfa-82	274	8	coefficients	coefficient	NOUN
ajfa-82	274	9	for	for	ADP
ajfa-82	274	10	the	the	DET
ajfa-82	274	11	independent	independent	ADJ
ajfa-82	274	12	variables	variable	NOUN
ajfa-82	274	13	are	be	AUX
ajfa-82	274	14	asian	asian	ADJ
ajfa-82	274	15	journal	journal	NOUN
ajfa-82	274	16	of	of	ADP
ajfa-82	274	17	finance	finance	PROPN
ajfa-82	274	18	&	&	CCONJ
ajfa-82	274	19	accounting	accounting	PROPN
ajfa-82	274	20	issn	issn	PROPN
ajfa-82	274	21	1946	1946	NUM
ajfa-82	274	22	-	-	PUNCT
ajfa-82	274	23	052x	052x	NOUN
ajfa-82	274	24	2009	2009	NUM
ajfa-82	274	25	,	,	PUNCT
ajfa-82	274	26	vol	vol	NOUN
ajfa-82	274	27	.	.	PROPN
ajfa-82	274	28	1	1	NUM
ajfa-82	274	29	,	,	PUNCT
ajfa-82	274	30	no	no	INTJ
ajfa-82	274	31	.	.	NOUN
ajfa-82	274	32	1	1	NUM
ajfa-82	274	33	:	:	PUNCT
ajfa-82	274	34	e1	e1	VERB
ajfa-82	274	35	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	274	36	73	73	NUM
ajfa-82	274	37	significant	significant	ADJ
ajfa-82	274	38	at	at	ADP
ajfa-82	274	39	the	the	DET
ajfa-82	274	40	0.05	0.05	NUM
ajfa-82	274	41	or	or	CCONJ
ajfa-82	274	42	0.10	0.10	NUM
ajfa-82	274	43	levels	level	NOUN
ajfa-82	274	44	.	.	PUNCT
ajfa-82	275	1	with	with	ADP
ajfa-82	275	2	approximately	approximately	ADV
ajfa-82	275	3	normally	normally	ADV
ajfa-82	275	4	distributed	distribute	VERB
ajfa-82	275	5	residuals	residual	NOUN
ajfa-82	275	6	and	and	CCONJ
ajfa-82	275	7	no	no	DET
ajfa-82	275	8	distinct	distinct	ADJ
ajfa-82	275	9	patterns	pattern	NOUN
ajfa-82	275	10	in	in	ADP
ajfa-82	275	11	the	the	DET
ajfa-82	275	12	plot	plot	NOUN
ajfa-82	275	13	of	of	ADP
ajfa-82	275	14	the	the	DET
ajfa-82	275	15	residuals	residual	NOUN
ajfa-82	275	16	,	,	PUNCT
ajfa-82	275	17	the	the	DET
ajfa-82	275	18	regressions	regression	NOUN
ajfa-82	275	19	are	be	AUX
ajfa-82	275	20	fundamentally	fundamentally	ADV
ajfa-82	275	21	sound	sound	ADJ
ajfa-82	275	22	and	and	CCONJ
ajfa-82	275	23	the	the	DET
ajfa-82	275	24	results	result	NOUN
ajfa-82	275	25	should	should	AUX
ajfa-82	275	26	be	be	AUX
ajfa-82	275	27	reasonably	reasonably	ADV
ajfa-82	275	28	robust	robust	ADJ
ajfa-82	275	29	.	.	PUNCT
ajfa-82	276	1	the	the	DET
ajfa-82	276	2	results	result	NOUN
ajfa-82	276	3	imply	imply	VERB
ajfa-82	276	4	that	that	SCONJ
ajfa-82	276	5	there	there	PRON
ajfa-82	276	6	is	be	VERB
ajfa-82	276	7	a	a	DET
ajfa-82	276	8	tendency	tendency	NOUN
ajfa-82	276	9	for	for	SCONJ
ajfa-82	276	10	smsf	smsf	PROPN
ajfa-82	276	11	trustees	trustee	NOUN
ajfa-82	276	12	to	to	PART
ajfa-82	276	13	decrease	decrease	VERB
ajfa-82	276	14	the	the	DET
ajfa-82	276	15	allocation	allocation	NOUN
ajfa-82	276	16	to	to	ADP
ajfa-82	276	17	fixed	fix	VERB
ajfa-82	276	18	income	income	NOUN
ajfa-82	276	19	securities	security	NOUN
ajfa-82	276	20	and	and	CCONJ
ajfa-82	276	21	cash	cash	NOUN
ajfa-82	276	22	as	as	SCONJ
ajfa-82	276	23	their	their	PRON
ajfa-82	276	24	smsf	smsf	NOUN
ajfa-82	276	25	increases	increase	VERB
ajfa-82	276	26	in	in	ADP
ajfa-82	276	27	size	size	NOUN
ajfa-82	276	28	.	.	PUNCT
ajfa-82	277	1	and	and	CCONJ
ajfa-82	277	2	there	there	PRON
ajfa-82	277	3	is	be	VERB
ajfa-82	277	4	a	a	DET
ajfa-82	277	5	tendency	tendency	NOUN
ajfa-82	277	6	for	for	SCONJ
ajfa-82	277	7	smsf	smsf	PROPN
ajfa-82	277	8	trustees	trustee	NOUN
ajfa-82	277	9	to	to	PART
ajfa-82	277	10	increase	increase	VERB
ajfa-82	277	11	the	the	DET
ajfa-82	277	12	allocation	allocation	NOUN
ajfa-82	277	13	to	to	ADP
ajfa-82	277	14	risky	risky	ADJ
ajfa-82	277	15	securities	security	NOUN
ajfa-82	277	16	as	as	SCONJ
ajfa-82	277	17	their	their	PRON
ajfa-82	277	18	smsf	smsf	NOUN
ajfa-82	277	19	increases	increase	VERB
ajfa-82	277	20	in	in	ADP
ajfa-82	277	21	size	size	NOUN
ajfa-82	277	22	.	.	PUNCT
ajfa-82	278	1	this	this	DET
ajfa-82	278	2	very	very	ADV
ajfa-82	278	3	elementary	elementary	ADJ
ajfa-82	278	4	piece	piece	NOUN
ajfa-82	278	5	of	of	ADP
ajfa-82	278	6	regression	regression	NOUN
ajfa-82	278	7	analysis	analysis	NOUN
ajfa-82	278	8	complements	complement	VERB
ajfa-82	278	9	the	the	DET
ajfa-82	278	10	robust	robust	ADJ
ajfa-82	278	11	results	result	NOUN
ajfa-82	278	12	produced	produce	VERB
ajfa-82	278	13	earlier	early	ADV
ajfa-82	278	14	using	use	VERB
ajfa-82	278	15	the	the	DET
ajfa-82	278	16	non	non	ADJ
ajfa-82	278	17	-	-	ADJ
ajfa-82	278	18	parametric	parametric	ADJ
ajfa-82	278	19	cross	cross	ADJ
ajfa-82	278	20	-	-	ADJ
ajfa-82	278	21	classification	classification	ADJ
ajfa-82	278	22	analysis	analysis	NOUN
ajfa-82	278	23	and	and	CCONJ
ajfa-82	278	24	provides	provide	VERB
ajfa-82	278	25	additional	additional	ADJ
ajfa-82	278	26	statistical	statistical	ADJ
ajfa-82	278	27	insights	insight	NOUN
ajfa-82	278	28	into	into	ADP
ajfa-82	278	29	the	the	DET
ajfa-82	278	30	asset	asset	NOUN
ajfa-82	278	31	allocation	allocation	NOUN
ajfa-82	278	32	of	of	ADP
ajfa-82	278	33	smsfs	smsfs	PROPN
ajfa-82	278	34	.	.	PUNCT
ajfa-82	279	1	both	both	PRON
ajfa-82	279	2	small	small	ADJ
ajfa-82	279	3	and	and	CCONJ
ajfa-82	279	4	large	large	ADJ
ajfa-82	279	5	smsfs	smsfs	NOUN
ajfa-82	279	6	are	be	AUX
ajfa-82	279	7	likely	likely	ADJ
ajfa-82	279	8	to	to	PART
ajfa-82	279	9	exhibit	exhibit	VERB
ajfa-82	279	10	high	high	ADJ
ajfa-82	279	11	allocations	allocation	NOUN
ajfa-82	279	12	to	to	ADP
ajfa-82	279	13	cash	cash	NOUN
ajfa-82	279	14	(	(	PUNCT
ajfa-82	279	15	and	and	CCONJ
ajfa-82	279	16	fixed	fix	VERB
ajfa-82	279	17	income	income	NOUN
ajfa-82	279	18	securities	security	NOUN
ajfa-82	279	19	)	)	PUNCT
ajfa-82	279	20	.	.	PUNCT
ajfa-82	280	1	as	as	SCONJ
ajfa-82	280	2	mentioned	mention	VERB
ajfa-82	280	3	previously	previously	ADV
ajfa-82	280	4	,	,	PUNCT
ajfa-82	280	5	high	high	ADJ
ajfa-82	280	6	cash	cash	NOUN
ajfa-82	280	7	allocations	allocation	NOUN
ajfa-82	280	8	of	of	ADP
ajfa-82	280	9	10	10	NUM
ajfa-82	280	10	to	to	PART
ajfa-82	280	11	20	20	NUM
ajfa-82	280	12	percent	percent	NOUN
ajfa-82	280	13	are	be	AUX
ajfa-82	280	14	associated	associate	VERB
ajfa-82	280	15	with	with	ADP
ajfa-82	280	16	a	a	DET
ajfa-82	280	17	conservative	conservative	ADJ
ajfa-82	280	18	or	or	CCONJ
ajfa-82	280	19	moderately	moderately	ADV
ajfa-82	280	20	conservative	conservative	ADJ
ajfa-82	280	21	investment	investment	NOUN
ajfa-82	280	22	strategy	strategy	NOUN
ajfa-82	280	23	.	.	PUNCT
ajfa-82	281	1	however	however	ADV
ajfa-82	281	2	,	,	PUNCT
ajfa-82	281	3	within	within	ADP
ajfa-82	281	4	the	the	DET
ajfa-82	281	5	portfolios	portfolio	NOUN
ajfa-82	281	6	themselves	themselves	PRON
ajfa-82	281	7	,	,	PUNCT
ajfa-82	281	8	a	a	DET
ajfa-82	281	9	conservative	conservative	ADJ
ajfa-82	281	10	investment	investment	NOUN
ajfa-82	281	11	strategy	strategy	NOUN
ajfa-82	281	12	is	be	AUX
ajfa-82	281	13	not	not	PART
ajfa-82	281	14	consistently	consistently	ADV
ajfa-82	281	15	applied	apply	VERB
ajfa-82	281	16	.	.	PUNCT
ajfa-82	282	1	a	a	DET
ajfa-82	282	2	conservative	conservative	ADJ
ajfa-82	282	3	investment	investment	NOUN
ajfa-82	282	4	strategy	strategy	NOUN
ajfa-82	282	5	,	,	PUNCT
ajfa-82	282	6	whilst	whilst	SCONJ
ajfa-82	282	7	calling	call	VERB
ajfa-82	282	8	for	for	ADP
ajfa-82	282	9	cash	cash	NOUN
ajfa-82	282	10	allocations	allocation	NOUN
ajfa-82	282	11	of	of	ADP
ajfa-82	282	12	10	10	NUM
ajfa-82	282	13	to	to	PART
ajfa-82	282	14	20	20	NUM
ajfa-82	282	15	percent	percent	NOUN
ajfa-82	282	16	,	,	PUNCT
ajfa-82	282	17	would	would	AUX
ajfa-82	282	18	only	only	ADV
ajfa-82	282	19	be	be	AUX
ajfa-82	282	20	consistent	consistent	ADJ
ajfa-82	282	21	with	with	ADP
ajfa-82	282	22	an	an	DET
ajfa-82	282	23	equity	equity	NOUN
ajfa-82	282	24	portfolio	portfolio	NOUN
ajfa-82	282	25	amounting	amount	VERB
ajfa-82	282	26	to	to	ADP
ajfa-82	282	27	approximately	approximately	ADV
ajfa-82	282	28	10	10	NUM
ajfa-82	282	29	to	to	PART
ajfa-82	282	30	20	20	NUM
ajfa-82	282	31	percent	percent	NOUN
ajfa-82	282	32	of	of	ADP
ajfa-82	282	33	the	the	DET
ajfa-82	282	34	overall	overall	ADJ
ajfa-82	282	35	portfolio	portfolio	NOUN
ajfa-82	282	36	.	.	PUNCT
ajfa-82	283	1	almost	almost	ADV
ajfa-82	283	2	half	half	NOUN
ajfa-82	283	3	of	of	ADP
ajfa-82	283	4	the	the	DET
ajfa-82	283	5	investable	investable	ADJ
ajfa-82	283	6	funds	fund	NOUN
ajfa-82	283	7	of	of	ADP
ajfa-82	283	8	the	the	DET
ajfa-82	283	9	average	average	ADJ
ajfa-82	283	10	smsf	smsf	PROPN
ajfa-82	283	11	portfolio	portfolio	NOUN
ajfa-82	283	12	are	be	AUX
ajfa-82	283	13	allocated	allocate	VERB
ajfa-82	283	14	to	to	ADP
ajfa-82	283	15	australian	australian	ADJ
ajfa-82	283	16	shares	share	NOUN
ajfa-82	283	17	.	.	PUNCT
ajfa-82	284	1	for	for	ADP
ajfa-82	284	2	example	example	NOUN
ajfa-82	284	3	,	,	PUNCT
ajfa-82	284	4	fund	fund	NOUN
ajfa-82	284	5	14	14	NUM
ajfa-82	284	6	has	have	VERB
ajfa-82	284	7	an	an	DET
ajfa-82	284	8	over	over	ADP
ajfa-82	284	9	50	50	NUM
ajfa-82	284	10	percent	percent	NOUN
ajfa-82	284	11	cash	cash	NOUN
ajfa-82	284	12	allocation	allocation	NOUN
ajfa-82	284	13	.	.	PUNCT
ajfa-82	285	1	it	it	PRON
ajfa-82	285	2	also	also	ADV
ajfa-82	285	3	has	have	VERB
ajfa-82	285	4	37	37	NUM
ajfa-82	285	5	percent	percent	NOUN
ajfa-82	285	6	allocated	allocate	VERB
ajfa-82	285	7	to	to	ADP
ajfa-82	285	8	australian	australian	ADJ
ajfa-82	285	9	shares	share	NOUN
ajfa-82	285	10	.	.	PUNCT
ajfa-82	286	1	likewise	likewise	ADV
ajfa-82	286	2	,	,	PUNCT
ajfa-82	286	3	fund	fund	NOUN
ajfa-82	286	4	42	42	NUM
ajfa-82	286	5	has	have	VERB
ajfa-82	286	6	a	a	DET
ajfa-82	286	7	47	47	NUM
ajfa-82	286	8	percent	percent	NOUN
ajfa-82	286	9	allocation	allocation	NOUN
ajfa-82	286	10	to	to	ADP
ajfa-82	286	11	cash	cash	VERB
ajfa-82	286	12	and	and	CCONJ
ajfa-82	286	13	a	a	DET
ajfa-82	286	14	40	40	NUM
ajfa-82	286	15	percent	percent	NOUN
ajfa-82	286	16	allocation	allocation	NOUN
ajfa-82	286	17	to	to	ADP
ajfa-82	286	18	australian	australian	ADJ
ajfa-82	286	19	shares	share	NOUN
ajfa-82	286	20	.	.	PUNCT
ajfa-82	287	1	this	this	PRON
ajfa-82	287	2	is	be	AUX
ajfa-82	287	3	a	a	DET
ajfa-82	287	4	pattern	pattern	NOUN
ajfa-82	287	5	that	that	PRON
ajfa-82	287	6	characterises	characterise	VERB
ajfa-82	287	7	many	many	ADJ
ajfa-82	287	8	of	of	ADP
ajfa-82	287	9	the	the	DET
ajfa-82	287	10	funds	fund	NOUN
ajfa-82	287	11	in	in	ADP
ajfa-82	287	12	the	the	DET
ajfa-82	287	13	sample	sample	NOUN
ajfa-82	287	14	and	and	CCONJ
ajfa-82	287	15	indicates	indicate	VERB
ajfa-82	287	16	a	a	DET
ajfa-82	287	17	potential	potential	ADJ
ajfa-82	287	18	problem	problem	NOUN
ajfa-82	287	19	with	with	ADP
ajfa-82	287	20	the	the	DET
ajfa-82	287	21	formulation	formulation	NOUN
ajfa-82	287	22	of	of	ADP
ajfa-82	287	23	the	the	DET
ajfa-82	287	24	investment	investment	NOUN
ajfa-82	287	25	strategy	strategy	NOUN
ajfa-82	287	26	.	.	PUNCT
ajfa-82	288	1	all	all	DET
ajfa-82	288	2	funds	fund	NOUN
ajfa-82	288	3	are	be	AUX
ajfa-82	288	4	required	require	VERB
ajfa-82	288	5	by	by	ADP
ajfa-82	288	6	law	law	NOUN
ajfa-82	288	7	to	to	PART
ajfa-82	288	8	have	have	VERB
ajfa-82	288	9	an	an	DET
ajfa-82	288	10	investment	investment	NOUN
ajfa-82	288	11	strategy	strategy	NOUN
ajfa-82	288	12	outlining	outline	VERB
ajfa-82	288	13	the	the	DET
ajfa-82	288	14	objectives	objective	NOUN
ajfa-82	288	15	of	of	ADP
ajfa-82	288	16	the	the	DET
ajfa-82	288	17	fund	fund	NOUN
ajfa-82	288	18	and	and	CCONJ
ajfa-82	288	19	the	the	DET
ajfa-82	288	20	asset	asset	NOUN
ajfa-82	288	21	classes	class	NOUN
ajfa-82	288	22	in	in	ADP
ajfa-82	288	23	which	which	PRON
ajfa-82	288	24	it	it	PRON
ajfa-82	288	25	may	may	AUX
ajfa-82	288	26	invest	invest	VERB
ajfa-82	288	27	.	.	PUNCT
ajfa-82	289	1	high	high	ADJ
ajfa-82	289	2	cash	cash	NOUN
ajfa-82	289	3	allocations	allocation	NOUN
ajfa-82	289	4	combined	combine	VERB
ajfa-82	289	5	with	with	ADP
ajfa-82	289	6	high	high	ADJ
ajfa-82	289	7	allocations	allocation	NOUN
ajfa-82	289	8	to	to	ADP
ajfa-82	289	9	australian	australian	ADJ
ajfa-82	289	10	shares	share	NOUN
ajfa-82	289	11	may	may	AUX
ajfa-82	289	12	be	be	AUX
ajfa-82	289	13	the	the	DET
ajfa-82	289	14	result	result	NOUN
ajfa-82	289	15	of	of	ADP
ajfa-82	289	16	poor	poor	ADJ
ajfa-82	289	17	investment	investment	NOUN
ajfa-82	289	18	strategy	strategy	NOUN
ajfa-82	289	19	construction	construction	NOUN
ajfa-82	289	20	.	.	PUNCT
ajfa-82	290	1	all	all	DET
ajfa-82	290	2	investment	investment	NOUN
ajfa-82	290	3	strategy	strategy	NOUN
ajfa-82	290	4	documents	document	NOUN
ajfa-82	290	5	contain	contain	VERB
ajfa-82	290	6	some	some	DET
ajfa-82	290	7	flexibility	flexibility	NOUN
ajfa-82	290	8	regarding	regard	VERB
ajfa-82	290	9	the	the	DET
ajfa-82	290	10	asset	asset	NOUN
ajfa-82	290	11	class	class	NOUN
ajfa-82	290	12	weightings	weighting	NOUN
ajfa-82	290	13	.	.	PUNCT
ajfa-82	291	1	it	it	PRON
ajfa-82	291	2	would	would	AUX
ajfa-82	291	3	seem	seem	VERB
ajfa-82	291	4	that	that	SCONJ
ajfa-82	291	5	the	the	DET
ajfa-82	291	6	smsfs	smsfs	NOUN
ajfa-82	291	7	have	have	VERB
ajfa-82	291	8	very	very	ADV
ajfa-82	291	9	flexible	flexible	ADJ
ajfa-82	291	10	or	or	CCONJ
ajfa-82	291	11	broadly	broadly	ADV
ajfa-82	291	12	defined	define	VERB
ajfa-82	291	13	weightings	weighting	NOUN
ajfa-82	291	14	schedules	schedule	NOUN
ajfa-82	291	15	.	.	PUNCT
ajfa-82	292	1	this	this	PRON
ajfa-82	292	2	does	do	AUX
ajfa-82	292	3	allow	allow	VERB
ajfa-82	292	4	smsf	smsf	PROPN
ajfa-82	292	5	trustees	trustee	NOUN
ajfa-82	292	6	a	a	DET
ajfa-82	292	7	certain	certain	ADJ
ajfa-82	292	8	freedom	freedom	NOUN
ajfa-82	292	9	in	in	ADP
ajfa-82	292	10	designing	design	VERB
ajfa-82	292	11	a	a	DET
ajfa-82	292	12	portfolio	portfolio	NOUN
ajfa-82	292	13	that	that	SCONJ
ajfa-82	292	14	they	they	PRON
ajfa-82	292	15	feel	feel	VERB
ajfa-82	292	16	is	be	AUX
ajfa-82	292	17	consistent	consistent	ADJ
ajfa-82	292	18	with	with	ADP
ajfa-82	292	19	their	their	PRON
ajfa-82	292	20	expectations	expectation	NOUN
ajfa-82	292	21	and	and	CCONJ
ajfa-82	292	22	risk	risk	NOUN
ajfa-82	292	23	aversion	aversion	NOUN
ajfa-82	292	24	but	but	CCONJ
ajfa-82	292	25	may	may	AUX
ajfa-82	292	26	result	result	VERB
ajfa-82	292	27	in	in	ADP
ajfa-82	292	28	a	a	DET
ajfa-82	292	29	lack	lack	NOUN
ajfa-82	292	30	of	of	ADP
ajfa-82	292	31	structure	structure	NOUN
ajfa-82	292	32	within	within	ADP
ajfa-82	292	33	the	the	DET
ajfa-82	292	34	portfolio	portfolio	NOUN
ajfa-82	292	35	.	.	PUNCT
ajfa-82	293	1	this	this	PRON
ajfa-82	293	2	can	can	AUX
ajfa-82	293	3	be	be	AUX
ajfa-82	293	4	compounded	compound	VERB
ajfa-82	293	5	if	if	SCONJ
ajfa-82	293	6	inexperienced	inexperienced	ADJ
ajfa-82	293	7	trustees	trustee	NOUN
ajfa-82	293	8	,	,	PUNCT
ajfa-82	293	9	far	far	ADV
ajfa-82	293	10	from	from	ADP
ajfa-82	293	11	taking	take	VERB
ajfa-82	293	12	advantage	advantage	NOUN
ajfa-82	293	13	of	of	ADP
ajfa-82	293	14	the	the	DET
ajfa-82	293	15	flexibility	flexibility	NOUN
ajfa-82	293	16	associated	associate	VERB
ajfa-82	293	17	with	with	ADP
ajfa-82	293	18	broadly	broadly	ADV
ajfa-82	293	19	defined	define	VERB
ajfa-82	293	20	weightings	weighting	NOUN
ajfa-82	293	21	schedules	schedule	NOUN
ajfa-82	293	22	to	to	PART
ajfa-82	293	23	design	design	VERB
ajfa-82	293	24	portfolios	portfolio	NOUN
ajfa-82	293	25	well	well	ADV
ajfa-82	293	26	-	-	PUNCT
ajfa-82	293	27	suited	suit	VERB
ajfa-82	293	28	to	to	ADP
ajfa-82	293	29	personal	personal	ADJ
ajfa-82	293	30	and	and	CCONJ
ajfa-82	293	31	market	market	NOUN
ajfa-82	293	32	conditions	condition	NOUN
ajfa-82	293	33	,	,	PUNCT
ajfa-82	293	34	design	design	NOUN
ajfa-82	293	35	portfolios	portfolio	NOUN
ajfa-82	293	36	with	with	ADP
ajfa-82	293	37	random	random	ADJ
ajfa-82	293	38	structures	structure	NOUN
ajfa-82	293	39	.	.	PUNCT
ajfa-82	294	1	the	the	DET
ajfa-82	294	2	investment	investment	NOUN
ajfa-82	294	3	strategies	strategy	NOUN
ajfa-82	294	4	of	of	ADP
ajfa-82	294	5	smsfs	smsfs	NOUN
ajfa-82	294	6	and	and	CCONJ
ajfa-82	294	7	the	the	DET
ajfa-82	294	8	consistency	consistency	NOUN
ajfa-82	294	9	with	with	ADP
ajfa-82	294	10	which	which	PRON
ajfa-82	294	11	they	they	PRON
ajfa-82	294	12	are	be	AUX
ajfa-82	294	13	applied	apply	VERB
ajfa-82	294	14	is	be	AUX
ajfa-82	294	15	an	an	DET
ajfa-82	294	16	important	important	ADJ
ajfa-82	294	17	area	area	NOUN
ajfa-82	294	18	for	for	ADP
ajfa-82	294	19	further	further	ADJ
ajfa-82	294	20	research	research	NOUN
ajfa-82	294	21	.	.	PUNCT
ajfa-82	295	1	following	follow	VERB
ajfa-82	295	2	more	more	ADV
ajfa-82	295	3	extensive	extensive	ADJ
ajfa-82	295	4	investigations	investigation	NOUN
ajfa-82	295	5	of	of	ADP
ajfa-82	295	6	the	the	DET
ajfa-82	295	7	economic	economic	ADJ
ajfa-82	295	8	properties	property	NOUN
ajfa-82	295	9	of	of	ADP
ajfa-82	295	10	smsfs	smsfs	NOUN
ajfa-82	295	11	,	,	PUNCT
ajfa-82	295	12	economists	economist	NOUN
ajfa-82	295	13	may	may	AUX
ajfa-82	295	14	be	be	AUX
ajfa-82	295	15	in	in	ADP
ajfa-82	295	16	a	a	DET
ajfa-82	295	17	position	position	NOUN
ajfa-82	295	18	to	to	PART
ajfa-82	295	19	provide	provide	VERB
ajfa-82	295	20	more	more	ADJ
ajfa-82	295	21	guidance	guidance	NOUN
ajfa-82	295	22	on	on	ADP
ajfa-82	295	23	the	the	DET
ajfa-82	295	24	optimal	optimal	ADJ
ajfa-82	295	25	management	management	NOUN
ajfa-82	295	26	of	of	ADP
ajfa-82	295	27	smsf	smsf	PROPN
ajfa-82	295	28	portfolio	portfolio	NOUN
ajfa-82	295	29	.	.	PUNCT
ajfa-82	296	1	for	for	ADP
ajfa-82	296	2	example	example	NOUN
ajfa-82	296	3	,	,	PUNCT
ajfa-82	296	4	balanced	balanced	ADJ
ajfa-82	296	5	superannuation	superannuation	NOUN
ajfa-82	296	6	funds	fund	NOUN
ajfa-82	296	7	follow	follow	VERB
ajfa-82	296	8	a	a	DET
ajfa-82	296	9	„	„	PUNCT
ajfa-82	296	10	constant	constant	ADJ
ajfa-82	296	11	proportional‟	proportional‟	NOUN
ajfa-82	296	12	investment	investment	NOUN
ajfa-82	296	13	policy	policy	NOUN
ajfa-82	296	14	whereby	whereby	SCONJ
ajfa-82	296	15	the	the	DET
ajfa-82	296	16	proportions	proportion	NOUN
ajfa-82	296	17	invested	invest	VERB
ajfa-82	296	18	in	in	ADP
ajfa-82	296	19	various	various	ADJ
ajfa-82	296	20	assets	asset	NOUN
ajfa-82	296	21	in	in	ADP
ajfa-82	296	22	the	the	DET
ajfa-82	296	23	fund	fund	NOUN
ajfa-82	296	24	are	be	AUX
ajfa-82	296	25	maintained	maintain	VERB
ajfa-82	296	26	by	by	ADP
ajfa-82	296	27	frequent	frequent	ADJ
ajfa-82	296	28	trading	trading	NOUN
ajfa-82	296	29	,	,	PUNCT
ajfa-82	296	30	especially	especially	ADV
ajfa-82	296	31	after	after	ADP
ajfa-82	296	32	significant	significant	ADJ
ajfa-82	296	33	market	market	NOUN
ajfa-82	296	34	movements	movement	NOUN
ajfa-82	296	35	.	.	PUNCT
ajfa-82	297	1	for	for	ADP
ajfa-82	297	2	smsf	smsf	PROPN
ajfa-82	297	3	trustees	trustee	NOUN
ajfa-82	297	4	with	with	ADP
ajfa-82	297	5	particular	particular	ADJ
ajfa-82	297	6	types	type	NOUN
ajfa-82	297	7	of	of	ADP
ajfa-82	297	8	risk	risk	NOUN
ajfa-82	297	9	aversion	aversion	NOUN
ajfa-82	297	10	,	,	PUNCT
ajfa-82	297	11	the	the	DET
ajfa-82	297	12	emulation	emulation	NOUN
ajfa-82	297	13	of	of	ADP
ajfa-82	297	14	such	such	DET
ajfa-82	297	15	a	a	DET
ajfa-82	297	16	strategy	strategy	NOUN
ajfa-82	297	17	may	may	AUX
ajfa-82	297	18	be	be	AUX
ajfa-82	297	19	asian	asian	ADJ
ajfa-82	297	20	journal	journal	NOUN
ajfa-82	297	21	of	of	ADP
ajfa-82	297	22	finance	finance	PROPN
ajfa-82	297	23	&	&	CCONJ
ajfa-82	297	24	accounting	accounting	PROPN
ajfa-82	297	25	issn	issn	PROPN
ajfa-82	297	26	1946	1946	NUM
ajfa-82	297	27	-	-	PUNCT
ajfa-82	297	28	052x	052x	NOUN
ajfa-82	297	29	2009	2009	NUM
ajfa-82	297	30	,	,	PUNCT
ajfa-82	297	31	vol	vol	NOUN
ajfa-82	297	32	.	.	PROPN
ajfa-82	297	33	1	1	NUM
ajfa-82	297	34	,	,	PUNCT
ajfa-82	297	35	no	no	INTJ
ajfa-82	297	36	.	.	NOUN
ajfa-82	297	37	1	1	NUM
ajfa-82	297	38	:	:	PUNCT
ajfa-82	297	39	e1	e1	VERB
ajfa-82	297	40	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	297	41	74	74	NUM
ajfa-82	297	42	encouraged	encourage	VERB
ajfa-82	297	43	,	,	PUNCT
ajfa-82	297	44	providing	provide	VERB
ajfa-82	297	45	there	there	PRON
ajfa-82	297	46	were	be	VERB
ajfa-82	297	47	no	no	DET
ajfa-82	297	48	mitigating	mitigate	VERB
ajfa-82	297	49	circumstances	circumstance	NOUN
ajfa-82	297	50	uncovered	uncover	VERB
ajfa-82	297	51	in	in	ADP
ajfa-82	297	52	the	the	DET
ajfa-82	297	53	course	course	NOUN
ajfa-82	297	54	of	of	ADP
ajfa-82	297	55	the	the	DET
ajfa-82	297	56	investigation	investigation	NOUN
ajfa-82	297	57	of	of	ADP
ajfa-82	297	58	smsfs	smsfs	PROPN
ajfa-82	297	59	.	.	PUNCT
ajfa-82	298	1	it	it	PRON
ajfa-82	298	2	is	be	AUX
ajfa-82	298	3	easy	easy	ADJ
ajfa-82	298	4	to	to	PART
ajfa-82	298	5	foresee	foresee	VERB
ajfa-82	298	6	,	,	PUNCT
ajfa-82	298	7	however	however	ADV
ajfa-82	298	8	,	,	PUNCT
ajfa-82	298	9	that	that	SCONJ
ajfa-82	298	10	a	a	DET
ajfa-82	298	11	constant	constant	ADJ
ajfa-82	298	12	proportional	proportional	ADJ
ajfa-82	298	13	strategy	strategy	NOUN
ajfa-82	298	14	may	may	AUX
ajfa-82	298	15	be	be	AUX
ajfa-82	298	16	too	too	ADV
ajfa-82	298	17	cumbersome	cumbersome	ADJ
ajfa-82	298	18	for	for	SCONJ
ajfa-82	298	19	many	many	ADJ
ajfa-82	298	20	smsf	smsf	PROPN
ajfa-82	298	21	trustees	trustee	NOUN
ajfa-82	298	22	to	to	PART
ajfa-82	298	23	perform	perform	VERB
ajfa-82	298	24	well	well	ADV
ajfa-82	298	25	and	and	CCONJ
ajfa-82	298	26	since	since	SCONJ
ajfa-82	298	27	many	many	ADJ
ajfa-82	298	28	self	self	NOUN
ajfa-82	298	29	managed	manage	VERB
ajfa-82	298	30	superannuation	superannuation	NOUN
ajfa-82	298	31	funds	fund	NOUN
ajfa-82	298	32	may	may	AUX
ajfa-82	298	33	be	be	AUX
ajfa-82	298	34	too	too	ADV
ajfa-82	298	35	small	small	ADJ
ajfa-82	298	36	to	to	PART
ajfa-82	298	37	justify	justify	VERB
ajfa-82	298	38	the	the	DET
ajfa-82	298	39	higher	high	ADJ
ajfa-82	298	40	transactions	transaction	NOUN
ajfa-82	298	41	costs	cost	NOUN
ajfa-82	298	42	that	that	PRON
ajfa-82	298	43	may	may	AUX
ajfa-82	298	44	be	be	AUX
ajfa-82	298	45	involved	involve	VERB
ajfa-82	298	46	,	,	PUNCT
ajfa-82	298	47	it	it	PRON
ajfa-82	298	48	may	may	AUX
ajfa-82	298	49	be	be	AUX
ajfa-82	298	50	more	more	ADV
ajfa-82	298	51	desirable	desirable	ADJ
ajfa-82	298	52	for	for	SCONJ
ajfa-82	298	53	advisers	adviser	NOUN
ajfa-82	298	54	to	to	PART
ajfa-82	298	55	recommend	recommend	VERB
ajfa-82	298	56	the	the	DET
ajfa-82	298	57	allocation	allocation	NOUN
ajfa-82	298	58	of	of	ADP
ajfa-82	298	59	the	the	DET
ajfa-82	298	60	capital	capital	NOUN
ajfa-82	298	61	of	of	ADP
ajfa-82	298	62	the	the	DET
ajfa-82	298	63	smsf	smsf	PROPN
ajfa-82	298	64	to	to	ADP
ajfa-82	298	65	managed	manage	VERB
ajfa-82	298	66	investments	investment	NOUN
ajfa-82	298	67	that	that	PRON
ajfa-82	298	68	do	do	AUX
ajfa-82	298	69	follow	follow	VERB
ajfa-82	298	70	a	a	DET
ajfa-82	298	71	constant	constant	ADJ
ajfa-82	298	72	proportional	proportional	ADJ
ajfa-82	298	73	or	or	CCONJ
ajfa-82	298	74	balanced	balanced	ADJ
ajfa-82	298	75	investment	investment	NOUN
ajfa-82	298	76	policy	policy	NOUN
ajfa-82	298	77	.	.	PUNCT
ajfa-82	299	1	7	7	X
ajfa-82	299	2	.	.	X
ajfa-82	299	3	conclusion	conclusion	NOUN
ajfa-82	299	4	in	in	ADP
ajfa-82	299	5	this	this	DET
ajfa-82	299	6	paper	paper	NOUN
ajfa-82	299	7	,	,	PUNCT
ajfa-82	299	8	the	the	DET
ajfa-82	299	9	relationship	relationship	NOUN
ajfa-82	299	10	between	between	ADP
ajfa-82	299	11	smsf	smsf	PROPN
ajfa-82	299	12	portfolio	portfolio	NOUN
ajfa-82	299	13	size	size	NOUN
ajfa-82	299	14	(	(	PUNCT
ajfa-82	299	15	or	or	CCONJ
ajfa-82	299	16	net	net	ADJ
ajfa-82	299	17	worth	worth	NOUN
ajfa-82	299	18	)	)	PUNCT
ajfa-82	299	19	and	and	CCONJ
ajfa-82	299	20	allocations	allocation	NOUN
ajfa-82	299	21	to	to	ADP
ajfa-82	299	22	risky	risky	ADJ
ajfa-82	299	23	assets	asset	NOUN
ajfa-82	299	24	was	be	AUX
ajfa-82	299	25	examined	examine	VERB
ajfa-82	299	26	.	.	PUNCT
ajfa-82	300	1	based	base	VERB
ajfa-82	300	2	on	on	ADP
ajfa-82	300	3	the	the	DET
ajfa-82	300	4	analysis	analysis	NOUN
ajfa-82	300	5	of	of	ADP
ajfa-82	300	6	two	two	NUM
ajfa-82	300	7	independent	independent	ADJ
ajfa-82	300	8	samples	sample	NOUN
ajfa-82	300	9	of	of	ADP
ajfa-82	300	10	smsfs	smsfs	NOUN
ajfa-82	300	11	,	,	PUNCT
ajfa-82	300	12	it	it	PRON
ajfa-82	300	13	was	be	AUX
ajfa-82	300	14	determined	determine	VERB
ajfa-82	300	15	that	that	SCONJ
ajfa-82	300	16	there	there	PRON
ajfa-82	300	17	is	be	VERB
ajfa-82	300	18	no	no	DET
ajfa-82	300	19	discernible	discernible	ADJ
ajfa-82	300	20	relationship	relationship	NOUN
ajfa-82	300	21	between	between	ADP
ajfa-82	300	22	the	the	DET
ajfa-82	300	23	two	two	NUM
ajfa-82	300	24	variables	variable	NOUN
ajfa-82	300	25	of	of	ADP
ajfa-82	300	26	interested	interested	ADJ
ajfa-82	300	27	.	.	PUNCT
ajfa-82	301	1	rather	rather	ADV
ajfa-82	301	2	,	,	PUNCT
ajfa-82	301	3	funds	fund	NOUN
ajfa-82	301	4	with	with	ADP
ajfa-82	301	5	the	the	DET
ajfa-82	301	6	largest	large	ADJ
ajfa-82	301	7	net	net	ADJ
ajfa-82	301	8	worth	worth	NOUN
ajfa-82	301	9	in	in	ADP
ajfa-82	301	10	both	both	DET
ajfa-82	301	11	samples	sample	NOUN
ajfa-82	301	12	exhibit	exhibit	VERB
ajfa-82	301	13	lower	low	ADJ
ajfa-82	301	14	allocations	allocation	NOUN
ajfa-82	301	15	to	to	ADP
ajfa-82	301	16	risky	risky	ADJ
ajfa-82	301	17	assets	asset	NOUN
ajfa-82	301	18	than	than	ADP
ajfa-82	301	19	funds	fund	NOUN
ajfa-82	301	20	with	with	ADP
ajfa-82	301	21	lower	low	ADJ
ajfa-82	301	22	net	net	ADJ
ajfa-82	301	23	worth	worth	NOUN
ajfa-82	301	24	.	.	PUNCT
ajfa-82	302	1	the	the	DET
ajfa-82	302	2	allocations	allocation	NOUN
ajfa-82	302	3	to	to	ADP
ajfa-82	302	4	non	non	ADJ
ajfa-82	302	5	-	-	ADJ
ajfa-82	302	6	risky	risky	ADJ
ajfa-82	302	7	cash	cash	NOUN
ajfa-82	302	8	assets	asset	NOUN
ajfa-82	302	9	in	in	ADP
ajfa-82	302	10	both	both	DET
ajfa-82	302	11	samples	sample	NOUN
ajfa-82	302	12	are	be	AUX
ajfa-82	302	13	quite	quite	ADV
ajfa-82	302	14	high	high	ADJ
ajfa-82	302	15	on	on	ADP
ajfa-82	302	16	average	average	ADJ
ajfa-82	302	17	and	and	CCONJ
ajfa-82	302	18	within	within	ADP
ajfa-82	302	19	the	the	DET
ajfa-82	302	20	samples	sample	NOUN
ajfa-82	302	21	some	some	DET
ajfa-82	302	22	trustees	trustee	NOUN
ajfa-82	302	23	have	have	AUX
ajfa-82	302	24	allocated	allocate	VERB
ajfa-82	302	25	very	very	ADV
ajfa-82	302	26	large	large	ADJ
ajfa-82	302	27	portions	portion	NOUN
ajfa-82	302	28	of	of	ADP
ajfa-82	302	29	their	their	PRON
ajfa-82	302	30	portfolios	portfolio	NOUN
ajfa-82	302	31	to	to	PART
ajfa-82	302	32	cash	cash	VERB
ajfa-82	302	33	.	.	PUNCT
ajfa-82	303	1	this	this	PRON
ajfa-82	303	2	suggests	suggest	VERB
ajfa-82	303	3	a	a	DET
ajfa-82	303	4	conservative	conservative	ADJ
ajfa-82	303	5	investment	investment	NOUN
ajfa-82	303	6	strategy	strategy	NOUN
ajfa-82	303	7	which	which	PRON
ajfa-82	303	8	is	be	AUX
ajfa-82	303	9	of	of	ADP
ajfa-82	303	10	course	course	NOUN
ajfa-82	303	11	entirely	entirely	ADV
ajfa-82	303	12	acceptable	acceptable	ADJ
ajfa-82	303	13	if	if	SCONJ
ajfa-82	303	14	that	that	PRON
ajfa-82	303	15	is	be	AUX
ajfa-82	303	16	what	what	PRON
ajfa-82	303	17	the	the	DET
ajfa-82	303	18	risk	risk	NOUN
ajfa-82	303	19	aversion	aversion	NOUN
ajfa-82	303	20	of	of	ADP
ajfa-82	303	21	the	the	DET
ajfa-82	303	22	trustees	trustee	NOUN
ajfa-82	303	23	calls	call	VERB
ajfa-82	303	24	for	for	ADP
ajfa-82	303	25	.	.	PUNCT
ajfa-82	304	1	interestingly	interestingly	ADV
ajfa-82	304	2	,	,	PUNCT
ajfa-82	304	3	however	however	ADV
ajfa-82	304	4	,	,	PUNCT
ajfa-82	304	5	the	the	DET
ajfa-82	304	6	high	high	ADJ
ajfa-82	304	7	cash	cash	NOUN
ajfa-82	304	8	allocations	allocation	NOUN
ajfa-82	304	9	are	be	AUX
ajfa-82	304	10	often	often	ADV
ajfa-82	304	11	combined	combine	VERB
ajfa-82	304	12	with	with	ADP
ajfa-82	304	13	high	high	ADJ
ajfa-82	304	14	allocations	allocation	NOUN
ajfa-82	304	15	to	to	ADP
ajfa-82	304	16	risky	risky	ADJ
ajfa-82	304	17	assets	asset	NOUN
ajfa-82	304	18	,	,	PUNCT
ajfa-82	304	19	especially	especially	ADV
ajfa-82	304	20	australian	australian	ADJ
ajfa-82	304	21	shares	share	NOUN
ajfa-82	304	22	.	.	PUNCT
ajfa-82	305	1	the	the	DET
ajfa-82	305	2	portfolios	portfolio	NOUN
ajfa-82	305	3	exhibit	exhibit	VERB
ajfa-82	305	4	a	a	DET
ajfa-82	305	5	dichotomy	dichotomy	NOUN
ajfa-82	305	6	:	:	PUNCT
ajfa-82	305	7	high	high	ADJ
ajfa-82	305	8	allocations	allocation	NOUN
ajfa-82	305	9	to	to	ADP
ajfa-82	305	10	a	a	DET
ajfa-82	305	11	risk	risk	NOUN
ajfa-82	305	12	free	free	ADJ
ajfa-82	305	13	asset	asset	NOUN
ajfa-82	305	14	and	and	CCONJ
ajfa-82	305	15	high	high	ADJ
ajfa-82	305	16	allocations	allocation	NOUN
ajfa-82	305	17	to	to	ADP
ajfa-82	305	18	risky	risky	ADJ
ajfa-82	305	19	assets	asset	NOUN
ajfa-82	305	20	.	.	PUNCT
ajfa-82	306	1	it	it	PRON
ajfa-82	306	2	would	would	AUX
ajfa-82	306	3	appear	appear	VERB
ajfa-82	306	4	as	as	SCONJ
ajfa-82	306	5	though	though	SCONJ
ajfa-82	306	6	the	the	DET
ajfa-82	306	7	flexibility	flexibility	NOUN
ajfa-82	306	8	afforded	afford	VERB
ajfa-82	306	9	by	by	ADP
ajfa-82	306	10	loosely	loosely	ADV
ajfa-82	306	11	constructed	construct	VERB
ajfa-82	306	12	investment	investment	NOUN
ajfa-82	306	13	strategies	strategy	NOUN
ajfa-82	306	14	is	be	AUX
ajfa-82	306	15	a	a	DET
ajfa-82	306	16	likely	likely	ADJ
ajfa-82	306	17	source	source	NOUN
ajfa-82	306	18	of	of	ADP
ajfa-82	306	19	this	this	DET
ajfa-82	306	20	smsf	smsf	NOUN
ajfa-82	306	21	characteristic	characteristic	NOUN
ajfa-82	306	22	.	.	PUNCT
ajfa-82	307	1	the	the	DET
ajfa-82	307	2	investigation	investigation	NOUN
ajfa-82	307	3	of	of	ADP
ajfa-82	307	4	smsf	smsf	PROPN
ajfa-82	307	5	investment	investment	NOUN
ajfa-82	307	6	strategy	strategy	NOUN
ajfa-82	307	7	documents	document	NOUN
ajfa-82	307	8	vis	vis	X
ajfa-82	307	9	-	-	X
ajfa-82	307	10	à	à	X
ajfa-82	307	11	-	-	PUNCT
ajfa-82	307	12	vis	vis	X
ajfa-82	307	13	the	the	DET
ajfa-82	307	14	portfolios	portfolio	NOUN
ajfa-82	307	15	actually	actually	ADV
ajfa-82	307	16	constructed	construct	VERB
ajfa-82	307	17	by	by	ADP
ajfa-82	307	18	their	their	PRON
ajfa-82	307	19	trustees	trustee	NOUN
ajfa-82	307	20	would	would	AUX
ajfa-82	307	21	be	be	AUX
ajfa-82	307	22	a	a	DET
ajfa-82	307	23	very	very	ADV
ajfa-82	307	24	interesting	interesting	ADJ
ajfa-82	307	25	task	task	NOUN
ajfa-82	307	26	for	for	ADP
ajfa-82	307	27	future	future	ADJ
ajfa-82	307	28	research	research	NOUN
ajfa-82	307	29	.	.	PUNCT
ajfa-82	308	1	references	reference	NOUN
ajfa-82	308	2	blume	blume	PROPN
ajfa-82	308	3	,	,	PUNCT
ajfa-82	308	4	m.	m.	NOUN
ajfa-82	308	5	and	and	CCONJ
ajfa-82	308	6	friend	friend	NOUN
ajfa-82	308	7	,	,	PUNCT
ajfa-82	308	8	i.	i.	PROPN
ajfa-82	308	9	(	(	PUNCT
ajfa-82	308	10	1975	1975	NUM
ajfa-82	308	11	)	)	PUNCT
ajfa-82	308	12	,	,	PUNCT
ajfa-82	308	13	“	"	PUNCT
ajfa-82	308	14	the	the	DET
ajfa-82	308	15	asset	asset	NOUN
ajfa-82	308	16	structure	structure	NOUN
ajfa-82	308	17	of	of	ADP
ajfa-82	308	18	individual	individual	ADJ
ajfa-82	308	19	portfolios	portfolio	NOUN
ajfa-82	308	20	and	and	CCONJ
ajfa-82	308	21	some	some	DET
ajfa-82	308	22	implications	implication	NOUN
ajfa-82	308	23	for	for	ADP
ajfa-82	308	24	utility	utility	NOUN
ajfa-82	308	25	functions	function	NOUN
ajfa-82	308	26	,	,	PUNCT
ajfa-82	308	27	”	"	PUNCT
ajfa-82	308	28	journal	journal	NOUN
ajfa-82	308	29	of	of	ADP
ajfa-82	308	30	finance	finance	NOUN
ajfa-82	308	31	,	,	PUNCT
ajfa-82	308	32	vol	vol	NOUN
ajfa-82	308	33	.	.	PUNCT
ajfa-82	309	1	xxx	xxx	PROPN
ajfa-82	309	2	,	,	PUNCT
ajfa-82	309	3	no	no	INTJ
ajfa-82	309	4	.	.	NOUN
ajfa-82	309	5	2	2	NUM
ajfa-82	309	6	,	,	PUNCT
ajfa-82	309	7	may	may	AUX
ajfa-82	309	8	,	,	PUNCT
ajfa-82	309	9	pp.585	pp.585	PROPN
ajfa-82	309	10	-	-	PUNCT
ajfa-82	309	11	603	603	NUM
ajfa-82	309	12	.	.	PUNCT
ajfa-82	310	1	campbell	campbell	PROPN
ajfa-82	310	2	,	,	PUNCT
ajfa-82	310	3	j.	j.	PROPN
ajfa-82	310	4	(	(	PUNCT
ajfa-82	310	5	2003	2003	NUM
ajfa-82	310	6	)	)	PUNCT
ajfa-82	310	7	,	,	PUNCT
ajfa-82	310	8	“	"	PUNCT
ajfa-82	310	9	two	two	NUM
ajfa-82	310	10	puzzles	puzzle	NOUN
ajfa-82	310	11	of	of	ADP
ajfa-82	310	12	asset	asset	NOUN
ajfa-82	310	13	pricing	pricing	NOUN
ajfa-82	310	14	and	and	CCONJ
ajfa-82	310	15	their	their	PRON
ajfa-82	310	16	implications	implication	NOUN
ajfa-82	310	17	for	for	ADP
ajfa-82	310	18	investors	investor	NOUN
ajfa-82	310	19	,	,	PUNCT
ajfa-82	310	20	”	"	PUNCT
ajfa-82	310	21	the	the	DET
ajfa-82	310	22	american	american	ADJ
ajfa-82	310	23	economist	economist	NOUN
ajfa-82	310	24	,	,	PUNCT
ajfa-82	310	25	vol	vol	NOUN
ajfa-82	310	26	.	.	PROPN
ajfa-82	311	1	47	47	NUM
ajfa-82	311	2	,	,	PUNCT
ajfa-82	311	3	no	no	INTJ
ajfa-82	311	4	.	.	NOUN
ajfa-82	311	5	1	1	NUM
ajfa-82	311	6	,	,	PUNCT
ajfa-82	311	7	spring	spring	NOUN
ajfa-82	311	8	,	,	PUNCT
ajfa-82	311	9	pp.48	pp.48	PROPN
ajfa-82	311	10	-	-	PUNCT
ajfa-82	311	11	74	74	NUM
ajfa-82	311	12	.	.	PUNCT
ajfa-82	312	1	cass	cass	PROPN
ajfa-82	312	2	,	,	PUNCT
ajfa-82	312	3	d.	d.	PROPN
ajfa-82	312	4	and	and	CCONJ
ajfa-82	312	5	stiglitz	stiglitz	PROPN
ajfa-82	312	6	,	,	PUNCT
ajfa-82	312	7	j.	j.	PROPN
ajfa-82	312	8	(	(	PUNCT
ajfa-82	312	9	1972	1972	NUM
ajfa-82	312	10	)	)	PUNCT
ajfa-82	312	11	,	,	PUNCT
ajfa-82	312	12	“	"	PUNCT
ajfa-82	312	13	risk	risk	NOUN
ajfa-82	312	14	aversion	aversion	NOUN
ajfa-82	312	15	and	and	CCONJ
ajfa-82	312	16	wealth	wealth	NOUN
ajfa-82	312	17	effects	effect	NOUN
ajfa-82	312	18	on	on	ADP
ajfa-82	312	19	portfolios	portfolio	NOUN
ajfa-82	312	20	with	with	ADP
ajfa-82	312	21	many	many	ADJ
ajfa-82	312	22	assets	asset	NOUN
ajfa-82	312	23	,	,	PUNCT
ajfa-82	312	24	”	"	PUNCT
ajfa-82	312	25	review	review	NOUN
ajfa-82	312	26	of	of	ADP
ajfa-82	312	27	economic	economic	ADJ
ajfa-82	312	28	studies	study	NOUN
ajfa-82	312	29	,	,	PUNCT
ajfa-82	312	30	july	july	PROPN
ajfa-82	312	31	,	,	PUNCT
ajfa-82	312	32	pp.331	pp.331	PROPN
ajfa-82	312	33	-	-	PUNCT
ajfa-82	312	34	354	354	NUM
ajfa-82	312	35	.	.	PUNCT
ajfa-82	313	1	cohn	cohn	PROPN
ajfa-82	313	2	,	,	PUNCT
ajfa-82	313	3	r.	r.	PROPN
ajfa-82	313	4	,	,	PUNCT
ajfa-82	313	5	lewellen	lewellen	PROPN
ajfa-82	313	6	,	,	PUNCT
ajfa-82	313	7	w.	w.	PROPN
ajfa-82	313	8	,	,	PUNCT
ajfa-82	313	9	lease	lease	PROPN
ajfa-82	313	10	,	,	PUNCT
ajfa-82	313	11	r.	r.	PROPN
ajfa-82	313	12	and	and	CCONJ
ajfa-82	313	13	schlarbaum	schlarbaum	PROPN
ajfa-82	313	14	,	,	PUNCT
ajfa-82	313	15	g.	g.	PROPN
ajfa-82	313	16	(	(	PUNCT
ajfa-82	313	17	1975	1975	NUM
ajfa-82	313	18	)	)	PUNCT
ajfa-82	313	19	,	,	PUNCT
ajfa-82	313	20	“	"	PUNCT
ajfa-82	313	21	individual	individual	ADJ
ajfa-82	313	22	risk	risk	NOUN
ajfa-82	313	23	aversion	aversion	NOUN
ajfa-82	313	24	and	and	CCONJ
ajfa-82	313	25	investment	investment	NOUN
ajfa-82	313	26	portfolio	portfolio	NOUN
ajfa-82	313	27	composition	composition	NOUN
ajfa-82	313	28	,	,	PUNCT
ajfa-82	313	29	”	"	PUNCT
ajfa-82	313	30	journal	journal	NOUN
ajfa-82	313	31	of	of	ADP
ajfa-82	313	32	finance	finance	NOUN
ajfa-82	313	33	,	,	PUNCT
ajfa-82	313	34	vol	vol	NOUN
ajfa-82	313	35	.	.	PUNCT
ajfa-82	314	1	xxx	xxx	PROPN
ajfa-82	314	2	,	,	PUNCT
ajfa-82	314	3	no	no	INTJ
ajfa-82	314	4	.	.	NOUN
ajfa-82	314	5	2	2	NUM
ajfa-82	314	6	,	,	PUNCT
ajfa-82	314	7	may	may	AUX
ajfa-82	314	8	,	,	PUNCT
ajfa-82	314	9	pp.605	pp.605	NOUN
ajfa-82	314	10	-	-	PUNCT
ajfa-82	314	11	620	620	NUM
ajfa-82	314	12	.	.	PUNCT
ajfa-82	315	1	donkers	donker	NOUN
ajfa-82	315	2	,	,	PUNCT
ajfa-82	315	3	b.	b.	PROPN
ajfa-82	315	4	,	,	PUNCT
ajfa-82	315	5	melenberg	melenberg	PROPN
ajfa-82	315	6	,	,	PUNCT
ajfa-82	315	7	b.	b.	PROPN
ajfa-82	315	8	and	and	CCONJ
ajfa-82	315	9	van	van	PROPN
ajfa-82	315	10	soest	soest	NOUN
ajfa-82	315	11	,	,	PUNCT
ajfa-82	315	12	a.	a.	NOUN
ajfa-82	315	13	(	(	PUNCT
ajfa-82	315	14	2001	2001	NUM
ajfa-82	315	15	)	)	PUNCT
ajfa-82	315	16	,	,	PUNCT
ajfa-82	315	17	“	"	PUNCT
ajfa-82	315	18	estimating	estimate	VERB
ajfa-82	315	19	risk	risk	NOUN
ajfa-82	315	20	attitudes	attitude	NOUN
ajfa-82	315	21	using	use	VERB
ajfa-82	315	22	asian	asian	ADJ
ajfa-82	315	23	journal	journal	NOUN
ajfa-82	315	24	of	of	ADP
ajfa-82	315	25	finance	finance	PROPN
ajfa-82	315	26	&	&	CCONJ
ajfa-82	315	27	accounting	accounting	PROPN
ajfa-82	315	28	issn	issn	PROPN
ajfa-82	315	29	1946	1946	NUM
ajfa-82	315	30	-	-	PUNCT
ajfa-82	315	31	052x	052x	NOUN
ajfa-82	315	32	2009	2009	NUM
ajfa-82	315	33	,	,	PUNCT
ajfa-82	315	34	vol	vol	NOUN
ajfa-82	315	35	.	.	PROPN
ajfa-82	315	36	1	1	NUM
ajfa-82	315	37	,	,	PUNCT
ajfa-82	315	38	no	no	INTJ
ajfa-82	315	39	.	.	NOUN
ajfa-82	315	40	1	1	NUM
ajfa-82	315	41	:	:	PUNCT
ajfa-82	315	42	e1	e1	VERB
ajfa-82	315	43	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-82	315	44	75	75	NUM
ajfa-82	315	45	lotteries	lottery	NOUN
ajfa-82	315	46	:	:	PUNCT
ajfa-82	315	47	a	a	DET
ajfa-82	315	48	large	large	ADJ
ajfa-82	315	49	sample	sample	NOUN
ajfa-82	315	50	approach	approach	NOUN
ajfa-82	315	51	,	,	PUNCT
ajfa-82	315	52	”	"	PUNCT
ajfa-82	315	53	journal	journal	NOUN
ajfa-82	315	54	of	of	ADP
ajfa-82	315	55	risk	risk	NOUN
ajfa-82	315	56	and	and	CCONJ
ajfa-82	315	57	uncertainty	uncertainty	NOUN
ajfa-82	315	58	,	,	PUNCT
ajfa-82	315	59	22:2	22:2	NUM
ajfa-82	315	60	,	,	PUNCT
ajfa-82	315	61	pp.165	pp.165	NOUN
ajfa-82	315	62	-	-	PUNCT
ajfa-82	315	63	195	195	NUM
ajfa-82	315	64	.	.	PUNCT
ajfa-82	316	1	elton	elton	PROPN
ajfa-82	316	2	,	,	PUNCT
ajfa-82	316	3	e.	e.	PROPN
ajfa-82	316	4	,	,	PUNCT
ajfa-82	316	5	gruber	gruber	PROPN
ajfa-82	316	6	,	,	PUNCT
ajfa-82	316	7	m.	m.	NOUN
ajfa-82	316	8	,	,	PUNCT
ajfa-82	316	9	brown	brown	PROPN
ajfa-82	316	10	,	,	PUNCT
ajfa-82	316	11	s.	s.	PROPN
ajfa-82	316	12	and	and	CCONJ
ajfa-82	316	13	goetzmann	goetzmann	PROPN
ajfa-82	316	14	,	,	PUNCT
ajfa-82	316	15	w.	w.	PROPN
ajfa-82	316	16	(	(	PUNCT
ajfa-82	316	17	2003	2003	NUM
ajfa-82	316	18	)	)	PUNCT
ajfa-82	316	19	,	,	PUNCT
ajfa-82	316	20	modern	modern	ADJ
ajfa-82	316	21	portfolio	portfolio	NOUN
ajfa-82	316	22	theory	theory	NOUN
ajfa-82	316	23	and	and	CCONJ
ajfa-82	316	24	investment	investment	NOUN
ajfa-82	316	25	analysis	analysis	NOUN
ajfa-82	316	26	,	,	PUNCT
ajfa-82	316	27	6	6	NUM
ajfa-82	316	28	th	th	NUM
ajfa-82	316	29	edition	edition	NOUN
ajfa-82	316	30	,	,	PUNCT
ajfa-82	316	31	john	john	PROPN
ajfa-82	316	32	wiley	wiley	PROPN
ajfa-82	316	33	and	and	CCONJ
ajfa-82	316	34	sons	son	NOUN
ajfa-82	316	35	,	,	PUNCT
ajfa-82	316	36	new	new	PROPN
ajfa-82	316	37	jersey	jersey	PROPN
ajfa-82	316	38	.	.	PUNCT
ajfa-82	317	1	friend	friend	PROPN
ajfa-82	317	2	,	,	PUNCT
ajfa-82	317	3	i.	i.	PROPN
ajfa-82	317	4	and	and	CCONJ
ajfa-82	317	5	blume	blume	PROPN
ajfa-82	317	6	,	,	PUNCT
ajfa-82	317	7	m.	m.	NOUN
ajfa-82	317	8	(	(	PUNCT
ajfa-82	317	9	1975	1975	NUM
ajfa-82	317	10	)	)	PUNCT
ajfa-82	317	11	,	,	PUNCT
ajfa-82	317	12	“	"	PUNCT
ajfa-82	317	13	the	the	DET
ajfa-82	317	14	demand	demand	NOUN
ajfa-82	317	15	for	for	ADP
ajfa-82	317	16	risky	risky	ADJ
ajfa-82	317	17	assets	asset	NOUN
ajfa-82	317	18	,	,	PUNCT
ajfa-82	317	19	”	"	PUNCT
ajfa-82	317	20	american	american	PROPN
ajfa-82	317	21	economic	economic	PROPN
ajfa-82	317	22	review	review	PROPN
ajfa-82	317	23	,	,	PUNCT
ajfa-82	317	24	vol	vol	NOUN
ajfa-82	317	25	.	.	PROPN
ajfa-82	317	26	65	65	NUM
ajfa-82	317	27	,	,	PUNCT
ajfa-82	317	28	no	no	INTJ
ajfa-82	317	29	.	.	NOUN
ajfa-82	317	30	5	5	NUM
ajfa-82	317	31	,	,	PUNCT
ajfa-82	317	32	december	december	PROPN
ajfa-82	317	33	,	,	PUNCT
ajfa-82	317	34	pp.900	pp.900	NOUN
ajfa-82	317	35	-	-	PUNCT
ajfa-82	317	36	922	922	NUM
ajfa-82	317	37	.	.	PUNCT
ajfa-82	318	1	landskroner	landskroner	PROPN
ajfa-82	318	2	,	,	PUNCT
ajfa-82	318	3	y.	y.	PROPN
ajfa-82	318	4	(	(	PUNCT
ajfa-82	318	5	1977	1977	NUM
ajfa-82	318	6	)	)	PUNCT
ajfa-82	318	7	,	,	PUNCT
ajfa-82	318	8	“	"	PUNCT
ajfa-82	318	9	intertemporal	intertemporal	ADJ
ajfa-82	318	10	determination	determination	NOUN
ajfa-82	318	11	of	of	ADP
ajfa-82	318	12	the	the	DET
ajfa-82	318	13	market	market	NOUN
ajfa-82	318	14	price	price	NOUN
ajfa-82	318	15	of	of	ADP
ajfa-82	318	16	risk	risk	NOUN
ajfa-82	318	17	,	,	PUNCT
ajfa-82	318	18	”	"	PUNCT
ajfa-82	318	19	journal	journal	NOUN
ajfa-82	318	20	of	of	ADP
ajfa-82	318	21	finance	finance	NOUN
ajfa-82	318	22	,	,	PUNCT
ajfa-82	318	23	vol.xxxii	vol.xxxii	PROPN
ajfa-82	318	24	,	,	PUNCT
ajfa-82	318	25	no	no	INTJ
ajfa-82	318	26	.	.	NOUN
ajfa-82	318	27	5	5	NUM
ajfa-82	318	28	,	,	PUNCT
ajfa-82	318	29	december	december	PROPN
ajfa-82	318	30	,	,	PUNCT
ajfa-82	318	31	pp.1671	pp.1671	PROPN
ajfa-82	318	32	-	-	NOUN
ajfa-82	318	33	1681	1681	NUM
ajfa-82	318	34	.	.	PUNCT
ajfa-82	319	1	phillips	phillips	PROPN
ajfa-82	319	2	,	,	PUNCT
ajfa-82	319	3	p.j	p.j	PROPN
ajfa-82	319	4	.	.	PROPN
ajfa-82	319	5	,	,	PUNCT
ajfa-82	319	6	cathcart	cathcart	PROPN
ajfa-82	319	7	,	,	PUNCT
ajfa-82	319	8	a.	a.	NOUN
ajfa-82	319	9	and	and	CCONJ
ajfa-82	319	10	teale	teale	PROPN
ajfa-82	319	11	,	,	PUNCT
ajfa-82	319	12	j.	j.	PROPN
ajfa-82	319	13	(	(	PUNCT
ajfa-82	319	14	2007	2007	NUM
ajfa-82	319	15	)	)	PUNCT
ajfa-82	319	16	,	,	PUNCT
ajfa-82	319	17	“	"	PUNCT
ajfa-82	319	18	the	the	DET
ajfa-82	319	19	diversification	diversification	NOUN
ajfa-82	319	20	and	and	CCONJ
ajfa-82	319	21	performance	performance	NOUN
ajfa-82	319	22	of	of	ADP
ajfa-82	319	23	self	self	NOUN
ajfa-82	319	24	managed	manage	VERB
ajfa-82	319	25	superannuation	superannuation	NOUN
ajfa-82	319	26	funds	fund	NOUN
ajfa-82	319	27	,	,	PUNCT
ajfa-82	319	28	”	"	PUNCT
ajfa-82	319	29	australian	australian	ADJ
ajfa-82	319	30	economic	economic	ADJ
ajfa-82	319	31	review	review	NOUN
ajfa-82	319	32	,	,	PUNCT
ajfa-82	319	33	vol	vol	NOUN
ajfa-82	319	34	.	.	PROPN
ajfa-82	319	35	4	4	NUM
ajfa-82	319	36	,	,	PUNCT
ajfa-82	319	37	issue	issue	NOUN
ajfa-82	319	38	4	4	NUM
ajfa-82	319	39	,	,	PUNCT
ajfa-82	319	40	pp.339	pp.339	PROPN
ajfa-82	319	41	-	-	PUNCT
ajfa-82	319	42	352	352	NUM
ajfa-82	319	43	.	.	PUNCT
ajfa-82	320	1	pratt	pratt	PROPN
ajfa-82	320	2	,	,	PUNCT
ajfa-82	320	3	j.w	j.w	PROPN
ajfa-82	320	4	.	.	PUNCT
ajfa-82	320	5	(	(	PUNCT
ajfa-82	320	6	1964	1964	NUM
ajfa-82	320	7	)	)	PUNCT
ajfa-82	320	8	,	,	PUNCT
ajfa-82	320	9	“	"	PUNCT
ajfa-82	320	10	risk	risk	NOUN
ajfa-82	320	11	aversion	aversion	NOUN
ajfa-82	320	12	in	in	ADP
ajfa-82	320	13	the	the	DET
ajfa-82	320	14	small	small	ADJ
ajfa-82	320	15	and	and	CCONJ
ajfa-82	320	16	in	in	ADP
ajfa-82	320	17	the	the	DET
ajfa-82	320	18	large	large	ADJ
ajfa-82	320	19	,	,	PUNCT
ajfa-82	320	20	”	"	PUNCT
ajfa-82	320	21	econometrica	econometrica	PROPN
ajfa-82	320	22	,	,	PUNCT
ajfa-82	320	23	vol	vol	NOUN
ajfa-82	320	24	.	.	PROPN
ajfa-82	320	25	32	32	NUM
ajfa-82	320	26	,	,	PUNCT
ajfa-82	320	27	no.1	no.1	NOUN
ajfa-82	320	28	-	-	SYM
ajfa-82	320	29	2	2	NUM
ajfa-82	320	30	,	,	PUNCT
ajfa-82	320	31	january	january	PROPN
ajfa-82	320	32	-	-	PUNCT
ajfa-82	320	33	april	april	PROPN
ajfa-82	320	34	,	,	PUNCT
ajfa-82	320	35	pp.122	pp.122	PROPN
ajfa-82	320	36	-	-	PUNCT
ajfa-82	320	37	136	136	NUM
ajfa-82	320	38	.	.	PUNCT
ajfa-82	321	1	sharpe	sharpe	PROPN
ajfa-82	321	2	,	,	PUNCT
ajfa-82	321	3	w.	w.	PROPN
ajfa-82	321	4	(	(	PUNCT
ajfa-82	321	5	1964	1964	NUM
ajfa-82	321	6	)	)	PUNCT
ajfa-82	321	7	,	,	PUNCT
ajfa-82	321	8	“	"	PUNCT
ajfa-82	321	9	capital	capital	NOUN
ajfa-82	321	10	asset	asset	NOUN
ajfa-82	321	11	prices	price	NOUN
ajfa-82	321	12	:	:	PUNCT
ajfa-82	321	13	a	a	DET
ajfa-82	321	14	theory	theory	NOUN
ajfa-82	321	15	of	of	ADP
ajfa-82	321	16	market	market	NOUN
ajfa-82	321	17	equilibrium	equilibrium	NOUN
ajfa-82	321	18	under	under	ADP
ajfa-82	321	19	conditions	condition	NOUN
ajfa-82	321	20	of	of	ADP
ajfa-82	321	21	risk	risk	NOUN
ajfa-82	321	22	,	,	PUNCT
ajfa-82	321	23	”	"	PUNCT
ajfa-82	321	24	journal	journal	NOUN
ajfa-82	321	25	of	of	ADP
ajfa-82	321	26	finance	finance	NOUN
ajfa-82	321	27	,	,	PUNCT
ajfa-82	321	28	vol	vol	NOUN
ajfa-82	321	29	.	.	PUNCT
ajfa-82	322	1	xix	xix	PROPN
ajfa-82	322	2	,	,	PUNCT
ajfa-82	322	3	no	no	INTJ
ajfa-82	322	4	.	.	NOUN
ajfa-82	322	5	3	3	NUM
ajfa-82	322	6	,	,	PUNCT
ajfa-82	322	7	pp.425	pp.425	NOUN
ajfa-82	322	8	-	-	PUNCT
ajfa-82	322	9	442	442	NUM
ajfa-82	322	10	.	.	PUNCT
ajfa-82	323	1	sheskin	sheskin	PROPN
ajfa-82	323	2	,	,	PUNCT
ajfa-82	323	3	d.	d.	PROPN
ajfa-82	323	4	(	(	PUNCT
ajfa-82	323	5	2000	2000	NUM
ajfa-82	323	6	)	)	PUNCT
ajfa-82	323	7	,	,	PUNCT
ajfa-82	323	8	handbook	handbook	NOUN
ajfa-82	323	9	of	of	ADP
ajfa-82	323	10	parametric	parametric	ADJ
ajfa-82	323	11	and	and	CCONJ
ajfa-82	323	12	nonparametric	nonparametric	ADJ
ajfa-82	323	13	statistical	statistical	ADJ
ajfa-82	323	14	procedures	procedure	NOUN
ajfa-82	323	15	,	,	PUNCT
ajfa-82	323	16	2	2	NUM
ajfa-82	323	17	nd	nd	NOUN
ajfa-82	323	18	edition	edition	NOUN
ajfa-82	323	19	,	,	PUNCT
ajfa-82	323	20	chapman	chapman	NOUN
ajfa-82	323	21	and	and	CCONJ
ajfa-82	323	22	hall	hall	PROPN
ajfa-82	323	23	,	,	PUNCT
ajfa-82	323	24	florida	florida	PROPN
ajfa-82	323	25	.	.	PUNCT
ajfa-82	324	1	smith	smith	PROPN
ajfa-82	324	2	,	,	PUNCT
ajfa-82	324	3	k.	k.	PROPN
ajfa-82	324	4	(	(	PUNCT
ajfa-82	324	5	1975	1975	NUM
ajfa-82	324	6	)	)	PUNCT
ajfa-82	324	7	,	,	PUNCT
ajfa-82	324	8	“	"	PUNCT
ajfa-82	324	9	discussion	discussion	NOUN
ajfa-82	324	10	,	,	PUNCT
ajfa-82	324	11	”	"	PUNCT
ajfa-82	324	12	journal	journal	NOUN
ajfa-82	324	13	of	of	ADP
ajfa-82	324	14	finance	finance	NOUN
ajfa-82	324	15	,	,	PUNCT
ajfa-82	324	16	vol	vol	NOUN
ajfa-82	324	17	.	.	PUNCT
ajfa-82	325	1	xxx	xxx	PROPN
ajfa-82	325	2	,	,	PUNCT
ajfa-82	325	3	no	no	INTJ
ajfa-82	325	4	.	.	NOUN
ajfa-82	325	5	2	2	NUM
ajfa-82	325	6	,	,	PUNCT
ajfa-82	325	7	may	may	AUX
ajfa-82	325	8	,	,	PUNCT
ajfa-82	325	9	pp.621	pp.621	PROPN
ajfa-82	325	10	-	-	PUNCT
ajfa-82	325	11	623	623	NUM
ajfa-82	325	12	.	.	PUNCT
ajfa-82	326	1	tobin	tobin	PROPN
ajfa-82	326	2	,	,	PUNCT
ajfa-82	326	3	j.	j.	PROPN
ajfa-82	326	4	(	(	PUNCT
ajfa-82	326	5	1958	1958	NUM
ajfa-82	326	6	)	)	PUNCT
ajfa-82	326	7	,	,	PUNCT
ajfa-82	326	8	“	"	PUNCT
ajfa-82	326	9	liquidity	liquidity	NOUN
ajfa-82	326	10	preference	preference	NOUN
ajfa-82	326	11	as	as	ADP
ajfa-82	326	12	behaviour	behaviour	NOUN
ajfa-82	326	13	towards	towards	ADP
ajfa-82	326	14	risk	risk	NOUN
ajfa-82	326	15	,	,	PUNCT
ajfa-82	326	16	”	"	PUNCT
ajfa-82	326	17	review	review	NOUN
ajfa-82	326	18	of	of	ADP
ajfa-82	326	19	economic	economic	ADJ
ajfa-82	326	20	studies	study	NOUN
ajfa-82	326	21	,	,	PUNCT
ajfa-82	326	22	no	no	INTJ
ajfa-82	326	23	.	.	NOUN
ajfa-82	326	24	67	67	NUM
ajfa-82	326	25	,	,	PUNCT
ajfa-82	326	26	february	february	PROPN
ajfa-82	326	27	,	,	PUNCT
ajfa-82	326	28	pp.65	pp.65	NOUN
ajfa-82	326	29	-	-	SYM
ajfa-82	326	30	86	86	NUM
ajfa-82	326	31	.	.	PUNCT