id	sid	tid	token	lemma	pos
ajfa-8898	1	1	microsoft	microsoft	PROPN
ajfa-8898	1	2	word	word	NOUN
ajfa-8898	1	3	8898	8898	NUM
ajfa-8898	1	4	-	-	SYM
ajfa-8898	1	5	32552	32552	NUM
ajfa-8898	1	6	-	-	PUNCT
ajfa-8898	1	7	1	1	NUM
ajfa-8898	1	8	-	-	PUNCT
ajfa-8898	1	9	sm	sm	NOUN
ajfa-8898	1	10	-	-	PUNCT
ajfa-8898	1	11	writer2	writer2	VERB
ajfa-8898	1	12	-	-	ADJ
ajfa-8898	1	13	new	new	ADJ
ajfa-8898	1	14	asian	asian	ADJ
ajfa-8898	1	15	journal	journal	NOUN
ajfa-8898	1	16	of	of	ADP
ajfa-8898	1	17	finance	finance	PROPN
ajfa-8898	1	18	&	&	CCONJ
ajfa-8898	1	19	accounting	accounting	PROPN
ajfa-8898	1	20	issn	issn	PROPN
ajfa-8898	1	21	1946	1946	NUM
ajfa-8898	1	22	-	-	PUNCT
ajfa-8898	1	23	052x	052x	PROPN
ajfa-8898	1	24	2016	2016	NUM
ajfa-8898	1	25	,	,	PUNCT
ajfa-8898	1	26	vol	vol	NOUN
ajfa-8898	1	27	.	.	PROPN
ajfa-8898	1	28	8	8	NUM
ajfa-8898	1	29	,	,	PUNCT
ajfa-8898	1	30	no	no	INTJ
ajfa-8898	1	31	.	.	NOUN
ajfa-8898	1	32	1	1	NUM
ajfa-8898	1	33	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	1	34	1	1	NUM
ajfa-8898	1	35	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	1	36	volatility	volatility	NOUN
ajfa-8898	1	37	and	and	CCONJ
ajfa-8898	1	38	cross	cross	NOUN
ajfa-8898	1	39	-	-	NOUN
ajfa-8898	1	40	section	section	NOUN
ajfa-8898	1	41	of	of	ADP
ajfa-8898	1	42	stock	stock	NOUN
ajfa-8898	1	43	returns	return	NOUN
ajfa-8898	1	44	:	:	PUNCT
ajfa-8898	1	45	evidences	evidence	NOUN
ajfa-8898	1	46	from	from	ADP
ajfa-8898	1	47	india	india	PROPN
ajfa-8898	1	48	prashant	prashant	PROPN
ajfa-8898	1	49	sharma	sharma	PROPN
ajfa-8898	1	50	assistant	assistant	PROPN
ajfa-8898	1	51	professor	professor	NOUN
ajfa-8898	1	52	and	and	CCONJ
ajfa-8898	1	53	area	area	NOUN
ajfa-8898	1	54	chair	chair	NOUN
ajfa-8898	1	55	(	(	PUNCT
ajfa-8898	1	56	finance	finance	NOUN
ajfa-8898	1	57	and	and	CCONJ
ajfa-8898	1	58	accounts	account	NOUN
ajfa-8898	1	59	)	)	PUNCT
ajfa-8898	1	60	jaipuria	jaipuria	PROPN
ajfa-8898	1	61	institute	institute	PROPN
ajfa-8898	1	62	of	of	ADP
ajfa-8898	1	63	management	management	PROPN
ajfa-8898	1	64	,	,	PUNCT
ajfa-8898	1	65	jaipur	jaipur	PROPN
ajfa-8898	1	66	,	,	PUNCT
ajfa-8898	1	67	india	india	PROPN
ajfa-8898	1	68	e	e	PROPN
ajfa-8898	1	69	-	-	NOUN
ajfa-8898	1	70	mail	mail	NOUN
ajfa-8898	1	71	:	:	PUNCT
ajfa-8898	1	72	prashantsharma1989@gmail.com	prashantsharma1989@gmail.com	X
ajfa-8898	2	1	brajesh	brajesh	PROPN
ajfa-8898	2	2	kumar	kumar	PROPN
ajfa-8898	2	3	assistant	assistant	PROPN
ajfa-8898	2	4	professor	professor	NOUN
ajfa-8898	2	5	,	,	PUNCT
ajfa-8898	2	6	department	department	PROPN
ajfa-8898	2	7	of	of	ADP
ajfa-8898	2	8	economics	economics	PROPN
ajfa-8898	2	9	national	national	PROPN
ajfa-8898	2	10	institute	institute	PROPN
ajfa-8898	2	11	of	of	ADP
ajfa-8898	2	12	financial	financial	ADJ
ajfa-8898	2	13	management	management	NOUN
ajfa-8898	2	14	,	,	PUNCT
ajfa-8898	2	15	faridabad	faridabad	PROPN
ajfa-8898	2	16	,	,	PUNCT
ajfa-8898	2	17	haryana	haryana	PROPN
ajfa-8898	2	18	,	,	PUNCT
ajfa-8898	2	19	india	india	PROPN
ajfa-8898	2	20	e	e	PROPN
ajfa-8898	2	21	-	-	NOUN
ajfa-8898	2	22	mail	mail	NOUN
ajfa-8898	2	23	:	:	PUNCT
ajfa-8898	2	24	brajesh@nifm.ac.in	brajesh@nifm.ac.in	AUX
ajfa-8898	2	25	received	receive	VERB
ajfa-8898	2	26	:	:	PUNCT
ajfa-8898	2	27	jan	jan	PROPN
ajfa-8898	2	28	.	.	PROPN
ajfa-8898	2	29	19	19	NUM
ajfa-8898	2	30	,	,	PUNCT
ajfa-8898	2	31	2016	2016	NUM
ajfa-8898	2	32	accepted	accept	VERB
ajfa-8898	2	33	:	:	PUNCT
ajfa-8898	2	34	feb	feb	PROPN
ajfa-8898	2	35	.	.	PROPN
ajfa-8898	2	36	22	22	NUM
ajfa-8898	2	37	,	,	PUNCT
ajfa-8898	2	38	2016	2016	NUM
ajfa-8898	2	39	published	publish	VERB
ajfa-8898	2	40	:	:	PUNCT
ajfa-8898	2	41	june	june	PROPN
ajfa-8898	2	42	1	1	NUM
ajfa-8898	2	43	,	,	PUNCT
ajfa-8898	2	44	2016	2016	NUM
ajfa-8898	2	45	doi:10.5296	doi:10.5296	NOUN
ajfa-8898	2	46	/	/	SYM
ajfa-8898	2	47	ajfa.v8i1.8898	ajfa.v8i1.8898	PUNCT
ajfa-8898	2	48	url	url	PROPN
ajfa-8898	2	49	:	:	PUNCT
ajfa-8898	2	50	http://dx.doi.org/10.5296/ajfa.v8i1.8898	http://dx.doi.org/10.5296/ajfa.v8i1.8898	PROPN
ajfa-8898	2	51	abstract	abstract	VERB
ajfa-8898	2	52	the	the	DET
ajfa-8898	2	53	present	present	ADJ
ajfa-8898	2	54	study	study	NOUN
ajfa-8898	2	55	examines	examine	VERB
ajfa-8898	2	56	the	the	DET
ajfa-8898	2	57	cross	cross	ADJ
ajfa-8898	2	58	-	-	ADJ
ajfa-8898	2	59	sectional	sectional	ADJ
ajfa-8898	2	60	pricing	pricing	NOUN
ajfa-8898	2	61	ability	ability	NOUN
ajfa-8898	2	62	of	of	ADP
ajfa-8898	2	63	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	2	64	volatility	volatility	NOUN
ajfa-8898	2	65	(	(	PUNCT
ajfa-8898	2	66	iv	iv	X
ajfa-8898	2	67	)	)	PUNCT
ajfa-8898	2	68	in	in	ADP
ajfa-8898	2	69	indian	indian	ADJ
ajfa-8898	2	70	stock	stock	NOUN
ajfa-8898	2	71	market	market	NOUN
ajfa-8898	2	72	and	and	CCONJ
ajfa-8898	2	73	investigates	investigate	VERB
ajfa-8898	2	74	the	the	DET
ajfa-8898	2	75	relationship	relationship	NOUN
ajfa-8898	2	76	amongst	amongst	ADP
ajfa-8898	2	77	expected	expect	VERB
ajfa-8898	2	78	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	2	79	volatility	volatility	NOUN
ajfa-8898	2	80	(	(	PUNCT
ajfa-8898	2	81	ei	ei	NOUN
ajfa-8898	2	82	)	)	PUNCT
ajfa-8898	2	83	,	,	PUNCT
ajfa-8898	2	84	unexpected	unexpected	ADJ
ajfa-8898	2	85	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	2	86	volatility	volatility	NOUN
ajfa-8898	2	87	(	(	PUNCT
ajfa-8898	2	88	ui	ui	NOUN
ajfa-8898	2	89	)	)	PUNCT
ajfa-8898	2	90	,	,	PUNCT
ajfa-8898	2	91	and	and	CCONJ
ajfa-8898	2	92	cross	cross	NOUN
ajfa-8898	2	93	-	-	NOUN
ajfa-8898	2	94	section	section	NOUN
ajfa-8898	2	95	of	of	ADP
ajfa-8898	2	96	stocks	stock	NOUN
ajfa-8898	2	97	returns	return	NOUN
ajfa-8898	2	98	.	.	PUNCT
ajfa-8898	3	1	the	the	DET
ajfa-8898	3	2	study	study	NOUN
ajfa-8898	3	3	uses	use	VERB
ajfa-8898	3	4	arima	arima	PROPN
ajfa-8898	3	5	(	(	PUNCT
ajfa-8898	3	6	2	2	NUM
ajfa-8898	3	7	,	,	PUNCT
ajfa-8898	3	8	0	0	NUM
ajfa-8898	3	9	,	,	PUNCT
ajfa-8898	3	10	1	1	X
ajfa-8898	3	11	)	)	PUNCT
ajfa-8898	3	12	model	model	NOUN
ajfa-8898	3	13	to	to	ADP
ajfa-8898	3	14	iv	iv	NUM
ajfa-8898	3	15	into	into	ADP
ajfa-8898	3	16	ei	ei	NOUN
ajfa-8898	3	17	and	and	CCONJ
ajfa-8898	3	18	ui	ui	PROPN
ajfa-8898	3	19	.	.	PUNCT
ajfa-8898	4	1	the	the	DET
ajfa-8898	4	2	stocks	stock	NOUN
ajfa-8898	4	3	returns	return	NOUN
ajfa-8898	4	4	are	be	AUX
ajfa-8898	4	5	regressed	regress	VERB
ajfa-8898	4	6	on	on	ADP
ajfa-8898	4	7	iv	iv	NUM
ajfa-8898	4	8	,	,	PUNCT
ajfa-8898	4	9	ei	ei	NOUN
ajfa-8898	4	10	and	and	CCONJ
ajfa-8898	4	11	ui	ui	NOUN
ajfa-8898	4	12	using	use	VERB
ajfa-8898	4	13	newey	newey	PROPN
ajfa-8898	4	14	-	-	PUNCT
ajfa-8898	4	15	west	west	PROPN
ajfa-8898	4	16	(	(	PUNCT
ajfa-8898	4	17	1987	1987	NUM
ajfa-8898	4	18	)	)	PUNCT
ajfa-8898	4	19	corrections	correction	NOUN
ajfa-8898	4	20	,	,	PUNCT
ajfa-8898	4	21	in	in	ADP
ajfa-8898	4	22	order	order	NOUN
ajfa-8898	4	23	to	to	PART
ajfa-8898	4	24	investigate	investigate	VERB
ajfa-8898	4	25	their	their	PRON
ajfa-8898	4	26	empirical	empirical	ADJ
ajfa-8898	4	27	relationship	relationship	NOUN
ajfa-8898	4	28	.	.	PUNCT
ajfa-8898	5	1	the	the	DET
ajfa-8898	5	2	study	study	NOUN
ajfa-8898	5	3	finds	find	VERB
ajfa-8898	5	4	that	that	SCONJ
ajfa-8898	5	5	iv	iv	NUM
ajfa-8898	5	6	is	be	AUX
ajfa-8898	5	7	positively	positively	ADV
ajfa-8898	5	8	related	relate	VERB
ajfa-8898	5	9	with	with	ADP
ajfa-8898	5	10	stock	stock	NOUN
ajfa-8898	5	11	returns	return	NOUN
ajfa-8898	5	12	.	.	PUNCT
ajfa-8898	6	1	further	far	ADV
ajfa-8898	6	2	the	the	DET
ajfa-8898	6	3	iv	iv	NOUN
ajfa-8898	6	4	significantly	significantly	ADV
ajfa-8898	6	5	explains	explain	VERB
ajfa-8898	6	6	the	the	DET
ajfa-8898	6	7	cross	cross	NOUN
ajfa-8898	6	8	-	-	NOUN
ajfa-8898	6	9	section	section	NOUN
ajfa-8898	6	10	of	of	ADP
ajfa-8898	6	11	stock	stock	NOUN
ajfa-8898	6	12	returns	return	NOUN
ajfa-8898	6	13	in	in	ADP
ajfa-8898	6	14	indian	indian	ADJ
ajfa-8898	6	15	context	context	NOUN
ajfa-8898	6	16	.	.	PUNCT
ajfa-8898	7	1	after	after	ADP
ajfa-8898	7	2	imposing	impose	VERB
ajfa-8898	7	3	control	control	NOUN
ajfa-8898	7	4	over	over	ADP
ajfa-8898	7	5	ui	ui	PROPN
ajfa-8898	7	6	,	,	PUNCT
ajfa-8898	7	7	as	as	SCONJ
ajfa-8898	7	8	it	it	PRON
ajfa-8898	7	9	is	be	AUX
ajfa-8898	7	10	highly	highly	ADV
ajfa-8898	7	11	correlated	correlate	VERB
ajfa-8898	7	12	with	with	ADP
ajfa-8898	7	13	unexpected	unexpected	ADJ
ajfa-8898	7	14	returns	return	NOUN
ajfa-8898	7	15	,	,	PUNCT
ajfa-8898	7	16	the	the	DET
ajfa-8898	7	17	inter	inter	ADJ
ajfa-8898	7	18	-	-	ADJ
ajfa-8898	7	19	temporal	temporal	ADJ
ajfa-8898	7	20	relationship	relationship	NOUN
ajfa-8898	7	21	between	between	ADP
ajfa-8898	7	22	ei	ei	NOUN
ajfa-8898	7	23	and	and	CCONJ
ajfa-8898	7	24	expected	expect	VERB
ajfa-8898	7	25	returns	return	NOUN
ajfa-8898	7	26	turns	turn	VERB
ajfa-8898	7	27	out	out	ADP
ajfa-8898	7	28	to	to	PART
ajfa-8898	7	29	be	be	AUX
ajfa-8898	7	30	positive	positive	ADJ
ajfa-8898	7	31	.	.	PUNCT
ajfa-8898	8	1	keywords	keyword	NOUN
ajfa-8898	8	2	:	:	PUNCT
ajfa-8898	8	3	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	8	4	risk	risk	NOUN
ajfa-8898	8	5	,	,	PUNCT
ajfa-8898	8	6	asset	asset	NOUN
ajfa-8898	8	7	pricing	pricing	NOUN
ajfa-8898	8	8	,	,	PUNCT
ajfa-8898	8	9	fama	fama	NOUN
ajfa-8898	8	10	-	-	PUNCT
ajfa-8898	8	11	french	french	ADJ
ajfa-8898	8	12	factor	factor	NOUN
ajfa-8898	8	13	model	model	NOUN
ajfa-8898	8	14	,	,	PUNCT
ajfa-8898	8	15	newey	newey	PROPN
ajfa-8898	8	16	-	-	PUNCT
ajfa-8898	8	17	west	west	PROPN
ajfa-8898	8	18	statistics	statistic	NOUN
ajfa-8898	8	19	,	,	PUNCT
ajfa-8898	8	20	arima	arima	PROPN
ajfa-8898	8	21	jel	jel	PROPN
ajfa-8898	8	22	classification	classification	PROPN
ajfa-8898	8	23	:	:	PUNCT
ajfa-8898	8	24	c30	c30	PROPN
ajfa-8898	8	25	,	,	PUNCT
ajfa-8898	8	26	g11	g11	PROPN
ajfa-8898	8	27	,	,	PUNCT
ajfa-8898	8	28	g12	g12	PROPN
ajfa-8898	8	29	asian	asian	PROPN
ajfa-8898	8	30	journal	journal	PROPN
ajfa-8898	8	31	of	of	ADP
ajfa-8898	8	32	finance	finance	PROPN
ajfa-8898	8	33	&	&	CCONJ
ajfa-8898	8	34	accounting	accounting	PROPN
ajfa-8898	8	35	issn	issn	PROPN
ajfa-8898	8	36	1946	1946	NUM
ajfa-8898	8	37	-	-	PUNCT
ajfa-8898	8	38	052x	052x	PROPN
ajfa-8898	8	39	2016	2016	NUM
ajfa-8898	8	40	,	,	PUNCT
ajfa-8898	8	41	vol	vol	NOUN
ajfa-8898	8	42	.	.	PROPN
ajfa-8898	8	43	8	8	NUM
ajfa-8898	8	44	,	,	PUNCT
ajfa-8898	8	45	no	no	INTJ
ajfa-8898	8	46	.	.	NOUN
ajfa-8898	8	47	1	1	NUM
ajfa-8898	8	48	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	8	49	2	2	NUM
ajfa-8898	8	50	1	1	NUM
ajfa-8898	8	51	.	.	PUNCT
ajfa-8898	8	52	introduction	introduction	NOUN
ajfa-8898	8	53	asset	asset	NOUN
ajfa-8898	8	54	pricing	pricing	NOUN
ajfa-8898	8	55	theories	theory	NOUN
ajfa-8898	8	56	focus	focus	VERB
ajfa-8898	8	57	on	on	ADP
ajfa-8898	8	58	the	the	DET
ajfa-8898	8	59	inter	inter	ADJ
ajfa-8898	8	60	-	-	ADJ
ajfa-8898	8	61	temporal	temporal	ADJ
ajfa-8898	8	62	relationship	relationship	NOUN
ajfa-8898	8	63	between	between	ADP
ajfa-8898	8	64	risk	risk	NOUN
ajfa-8898	8	65	and	and	CCONJ
ajfa-8898	8	66	return	return	NOUN
ajfa-8898	8	67	.	.	PUNCT
ajfa-8898	9	1	the	the	DET
ajfa-8898	9	2	traditional	traditional	ADJ
ajfa-8898	9	3	theories	theory	NOUN
ajfa-8898	9	4	focus	focus	VERB
ajfa-8898	9	5	majorly	majorly	ADV
ajfa-8898	9	6	on	on	ADP
ajfa-8898	9	7	the	the	DET
ajfa-8898	9	8	systematic	systematic	ADJ
ajfa-8898	9	9	risks	risk	NOUN
ajfa-8898	9	10	but	but	CCONJ
ajfa-8898	9	11	not	not	PART
ajfa-8898	9	12	on	on	ADP
ajfa-8898	9	13	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	9	14	risk	risk	NOUN
ajfa-8898	9	15	,	,	PUNCT
ajfa-8898	9	16	as	as	SCONJ
ajfa-8898	9	17	it	it	PRON
ajfa-8898	9	18	was	be	AUX
ajfa-8898	9	19	assumed	assume	VERB
ajfa-8898	9	20	that	that	SCONJ
ajfa-8898	9	21	perfect	perfect	ADJ
ajfa-8898	9	22	diversification	diversification	NOUN
ajfa-8898	9	23	in	in	ADP
ajfa-8898	9	24	the	the	DET
ajfa-8898	9	25	portfolio	portfolio	NOUN
ajfa-8898	9	26	can	can	AUX
ajfa-8898	9	27	eliminate	eliminate	VERB
ajfa-8898	9	28	the	the	DET
ajfa-8898	9	29	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	9	30	risk	risk	NOUN
ajfa-8898	9	31	(	(	PUNCT
ajfa-8898	9	32	markowitz	markowitz	PROPN
ajfa-8898	9	33	,	,	PUNCT
ajfa-8898	9	34	1959	1959	NUM
ajfa-8898	9	35	;	;	PUNCT
ajfa-8898	9	36	sharpe	sharpe	PROPN
ajfa-8898	9	37	,	,	PUNCT
ajfa-8898	9	38	1964	1964	NUM
ajfa-8898	9	39	;	;	PUNCT
ajfa-8898	9	40	treynor	treynor	NOUN
ajfa-8898	9	41	,	,	PUNCT
ajfa-8898	9	42	1961	1961	NUM
ajfa-8898	9	43	;	;	PUNCT
ajfa-8898	9	44	and	and	CCONJ
ajfa-8898	9	45	lintner	lintner	NOUN
ajfa-8898	9	46	,	,	PUNCT
ajfa-8898	9	47	1965	1965	NUM
ajfa-8898	9	48	)	)	PUNCT
ajfa-8898	9	49	.	.	PUNCT
ajfa-8898	10	1	but	but	CCONJ
ajfa-8898	10	2	,	,	PUNCT
ajfa-8898	10	3	in	in	ADP
ajfa-8898	10	4	real	real	ADJ
ajfa-8898	10	5	market	market	NOUN
ajfa-8898	10	6	scenario	scenario	NOUN
ajfa-8898	10	7	,	,	PUNCT
ajfa-8898	10	8	it	it	PRON
ajfa-8898	10	9	is	be	AUX
ajfa-8898	10	10	very	very	ADV
ajfa-8898	10	11	hard	hard	ADJ
ajfa-8898	10	12	to	to	PART
ajfa-8898	10	13	diversify	diversify	VERB
ajfa-8898	10	14	the	the	DET
ajfa-8898	10	15	portfolio	portfolio	NOUN
ajfa-8898	10	16	perfectly	perfectly	ADV
ajfa-8898	10	17	.	.	PUNCT
ajfa-8898	11	1	as	as	SCONJ
ajfa-8898	11	2	mentioned	mention	VERB
ajfa-8898	11	3	by	by	ADP
ajfa-8898	11	4	goyal	goyal	PROPN
ajfa-8898	11	5	and	and	CCONJ
ajfa-8898	11	6	clara	clara	PROPN
ajfa-8898	11	7	(	(	PUNCT
ajfa-8898	11	8	2003	2003	NUM
ajfa-8898	11	9	)	)	PUNCT
ajfa-8898	11	10	,	,	PUNCT
ajfa-8898	11	11	the	the	DET
ajfa-8898	11	12	reasons	reason	NOUN
ajfa-8898	11	13	for	for	ADP
ajfa-8898	11	14	not	not	PART
ajfa-8898	11	15	attaining	attain	VERB
ajfa-8898	11	16	fully	fully	ADV
ajfa-8898	11	17	diversified	diversify	VERB
ajfa-8898	11	18	portfolios	portfolio	NOUN
ajfa-8898	11	19	are	be	AUX
ajfa-8898	11	20	transaction	transaction	NOUN
ajfa-8898	11	21	costs	cost	NOUN
ajfa-8898	11	22	,	,	PUNCT
ajfa-8898	11	23	taxes	taxis	NOUN
ajfa-8898	11	24	,	,	PUNCT
ajfa-8898	11	25	concentration	concentration	NOUN
ajfa-8898	11	26	exposure	exposure	NOUN
ajfa-8898	11	27	that	that	PRON
ajfa-8898	11	28	restrict	restrict	VERB
ajfa-8898	11	29	the	the	DET
ajfa-8898	11	30	capacity	capacity	NOUN
ajfa-8898	11	31	of	of	ADP
ajfa-8898	11	32	employees	employee	NOUN
ajfa-8898	11	33	to	to	PART
ajfa-8898	11	34	sell	sell	VERB
ajfa-8898	11	35	their	their	PRON
ajfa-8898	11	36	holdings	holding	NOUN
ajfa-8898	11	37	received	receive	VERB
ajfa-8898	11	38	under	under	ADP
ajfa-8898	11	39	employee	employee	NOUN
ajfa-8898	11	40	compensation	compensation	NOUN
ajfa-8898	11	41	plans	plan	NOUN
ajfa-8898	11	42	,	,	PUNCT
ajfa-8898	11	43	private	private	ADJ
ajfa-8898	11	44	information	information	NOUN
ajfa-8898	11	45	about	about	ADP
ajfa-8898	11	46	individual	individual	ADJ
ajfa-8898	11	47	stocks	stock	NOUN
ajfa-8898	11	48	,	,	PUNCT
ajfa-8898	11	49	prone	prone	ADJ
ajfa-8898	11	50	to	to	PART
ajfa-8898	11	51	invest	invest	VERB
ajfa-8898	11	52	in	in	ADP
ajfa-8898	11	53	familiar	familiar	ADJ
ajfa-8898	11	54	stocks	stock	NOUN
ajfa-8898	11	55	and	and	CCONJ
ajfa-8898	11	56	irrationality	irrationality	NOUN
ajfa-8898	11	57	of	of	ADP
ajfa-8898	11	58	investors	investor	NOUN
ajfa-8898	11	59	.	.	PUNCT
ajfa-8898	12	1	to	to	PART
ajfa-8898	12	2	overcome	overcome	VERB
ajfa-8898	12	3	such	such	ADJ
ajfa-8898	12	4	issue	issue	NOUN
ajfa-8898	12	5	,	,	PUNCT
ajfa-8898	12	6	in	in	ADP
ajfa-8898	12	7	past	past	ADJ
ajfa-8898	12	8	two	two	NUM
ajfa-8898	12	9	decades	decade	NOUN
ajfa-8898	12	10	,	,	PUNCT
ajfa-8898	12	11	the	the	DET
ajfa-8898	12	12	researchers	researcher	NOUN
ajfa-8898	12	13	have	have	AUX
ajfa-8898	12	14	paid	pay	VERB
ajfa-8898	12	15	considerable	considerable	ADJ
ajfa-8898	12	16	attention	attention	NOUN
ajfa-8898	12	17	to	to	ADP
ajfa-8898	12	18	the	the	DET
ajfa-8898	12	19	role	role	NOUN
ajfa-8898	12	20	of	of	ADP
ajfa-8898	12	21	iv	iv	NOUN
ajfa-8898	12	22	in	in	ADP
ajfa-8898	12	23	determining	determine	VERB
ajfa-8898	12	24	the	the	DET
ajfa-8898	12	25	excess	excess	ADJ
ajfa-8898	12	26	returns	return	NOUN
ajfa-8898	12	27	.	.	PUNCT
ajfa-8898	13	1	considering	consider	VERB
ajfa-8898	13	2	the	the	DET
ajfa-8898	13	3	importance	importance	NOUN
ajfa-8898	13	4	of	of	ADP
ajfa-8898	13	5	iv	iv	NUM
ajfa-8898	13	6	in	in	ADP
ajfa-8898	13	7	asset	asset	NOUN
ajfa-8898	13	8	pricing	pricing	NOUN
ajfa-8898	13	9	theory	theory	NOUN
ajfa-8898	13	10	,	,	PUNCT
ajfa-8898	13	11	merton	merton	X
ajfa-8898	13	12	(	(	PUNCT
ajfa-8898	13	13	1987	1987	NUM
ajfa-8898	13	14	)	)	PUNCT
ajfa-8898	13	15	,	,	PUNCT
ajfa-8898	13	16	in	in	ADP
ajfa-8898	13	17	his	his	PRON
ajfa-8898	13	18	theoretical	theoretical	ADJ
ajfa-8898	13	19	model	model	NOUN
ajfa-8898	13	20	(	(	PUNCT
ajfa-8898	13	21	assuming	assume	VERB
ajfa-8898	13	22	investor	investor	NOUN
ajfa-8898	13	23	’s	’s	PART
ajfa-8898	13	24	under	under	ADV
ajfa-8898	13	25	-	-	PUNCT
ajfa-8898	13	26	diversified	diversify	VERB
ajfa-8898	13	27	portfolio	portfolio	NOUN
ajfa-8898	13	28	)	)	PUNCT
ajfa-8898	13	29	emphasized	emphasize	VERB
ajfa-8898	13	30	that	that	SCONJ
ajfa-8898	13	31	it	it	PRON
ajfa-8898	13	32	can	can	AUX
ajfa-8898	13	33	have	have	VERB
ajfa-8898	13	34	significant	significant	ADJ
ajfa-8898	13	35	role	role	NOUN
ajfa-8898	13	36	in	in	ADP
ajfa-8898	13	37	determining	determine	VERB
ajfa-8898	13	38	excess	excess	ADJ
ajfa-8898	13	39	returns	return	NOUN
ajfa-8898	13	40	.	.	PUNCT
ajfa-8898	14	1	following	follow	VERB
ajfa-8898	14	2	the	the	DET
ajfa-8898	14	3	theoretical	theoretical	ADJ
ajfa-8898	14	4	model	model	NOUN
ajfa-8898	14	5	of	of	ADP
ajfa-8898	14	6	merton	merton	PROPN
ajfa-8898	14	7	(	(	PUNCT
ajfa-8898	14	8	1987	1987	NUM
ajfa-8898	14	9	)	)	PUNCT
ajfa-8898	14	10	,	,	PUNCT
ajfa-8898	14	11	numerous	numerous	ADJ
ajfa-8898	14	12	works	work	NOUN
ajfa-8898	14	13	had	have	AUX
ajfa-8898	14	14	been	be	AUX
ajfa-8898	14	15	conducted	conduct	VERB
ajfa-8898	14	16	to	to	PART
ajfa-8898	14	17	see	see	VERB
ajfa-8898	14	18	the	the	DET
ajfa-8898	14	19	inter	inter	ADJ
ajfa-8898	14	20	-	-	ADJ
ajfa-8898	14	21	temporal	temporal	ADJ
ajfa-8898	14	22	relationship	relationship	NOUN
ajfa-8898	14	23	between	between	ADP
ajfa-8898	14	24	iv	iv	ADJ
ajfa-8898	14	25	and	and	CCONJ
ajfa-8898	14	26	excess	excess	ADJ
ajfa-8898	14	27	returns	return	NOUN
ajfa-8898	14	28	,	,	PUNCT
ajfa-8898	14	29	which	which	PRON
ajfa-8898	14	30	can	can	AUX
ajfa-8898	14	31	be	be	AUX
ajfa-8898	14	32	divided	divide	VERB
ajfa-8898	14	33	majorly	majorly	ADV
ajfa-8898	14	34	into	into	ADP
ajfa-8898	14	35	three	three	NUM
ajfa-8898	14	36	categories	category	NOUN
ajfa-8898	14	37	;	;	PUNCT
ajfa-8898	14	38	first	first	ADJ
ajfa-8898	14	39	category	category	NOUN
ajfa-8898	14	40	focusing	focus	VERB
ajfa-8898	14	41	on	on	ADP
ajfa-8898	14	42	the	the	DET
ajfa-8898	14	43	time	time	NOUN
ajfa-8898	14	44	series	series	PROPN
ajfa-8898	14	45	trend	trend	NOUN
ajfa-8898	14	46	ofiv	ofiv	NOUN
ajfa-8898	14	47	in	in	ADP
ajfa-8898	14	48	asset	asset	NOUN
ajfa-8898	14	49	pricing	pricing	NOUN
ajfa-8898	14	50	process	process	NOUN
ajfa-8898	14	51	;	;	PUNCT
ajfa-8898	14	52	second	second	ADV
ajfa-8898	14	53	,	,	PUNCT
ajfa-8898	14	54	emphasizing	emphasize	VERB
ajfa-8898	14	55	on	on	ADP
ajfa-8898	14	56	the	the	DET
ajfa-8898	14	57	inter	inter	ADJ
ajfa-8898	14	58	-	-	ADJ
ajfa-8898	14	59	temporal	temporal	ADJ
ajfa-8898	14	60	relationship	relationship	NOUN
ajfa-8898	14	61	between	between	ADP
ajfa-8898	14	62	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	14	63	volatility	volatility	NOUN
ajfa-8898	14	64	and	and	CCONJ
ajfa-8898	14	65	future	future	ADJ
ajfa-8898	14	66	returns	return	NOUN
ajfa-8898	14	67	of	of	ADP
ajfa-8898	14	68	stocks	stock	NOUN
ajfa-8898	14	69	;	;	PUNCT
ajfa-8898	14	70	and	and	CCONJ
ajfa-8898	14	71	the	the	DET
ajfa-8898	14	72	third	third	NOUN
ajfa-8898	14	73	is	be	AUX
ajfa-8898	14	74	on	on	ADP
ajfa-8898	14	75	the	the	DET
ajfa-8898	14	76	time	time	NOUN
ajfa-8898	14	77	series	series	PROPN
ajfa-8898	14	78	association	association	PROPN
ajfa-8898	14	79	and	and	CCONJ
ajfa-8898	14	80	predicting	predict	VERB
ajfa-8898	14	81	power	power	NOUN
ajfa-8898	14	82	of	of	ADP
ajfa-8898	14	83	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	14	84	volatility	volatility	NOUN
ajfa-8898	14	85	and	and	CCONJ
ajfa-8898	14	86	cross	cross	NOUN
ajfa-8898	14	87	-	-	NOUN
ajfa-8898	14	88	section	section	NOUN
ajfa-8898	14	89	of	of	ADP
ajfa-8898	14	90	stock	stock	NOUN
ajfa-8898	14	91	’s	’s	PART
ajfa-8898	14	92	excess	excess	ADJ
ajfa-8898	14	93	returns	return	NOUN
ajfa-8898	14	94	.	.	PUNCT
ajfa-8898	15	1	the	the	DET
ajfa-8898	15	2	study	study	NOUN
ajfa-8898	15	3	conducted	conduct	VERB
ajfa-8898	15	4	by	by	ADP
ajfa-8898	15	5	campbell	campbell	PROPN
ajfa-8898	15	6	et	et	PROPN
ajfa-8898	15	7	.	.	PUNCT
ajfa-8898	16	1	al	al	PROPN
ajfa-8898	16	2	.	.	PROPN
ajfa-8898	16	3	,	,	PUNCT
ajfa-8898	16	4	(	(	PUNCT
ajfa-8898	16	5	2001	2001	NUM
ajfa-8898	16	6	)	)	PUNCT
ajfa-8898	16	7	was	be	AUX
ajfa-8898	16	8	in	in	ADP
ajfa-8898	16	9	support	support	NOUN
ajfa-8898	16	10	of	of	ADP
ajfa-8898	16	11	first	first	ADJ
ajfa-8898	16	12	branch	branch	NOUN
ajfa-8898	16	13	of	of	ADP
ajfa-8898	16	14	literature	literature	NOUN
ajfa-8898	16	15	which	which	PRON
ajfa-8898	16	16	focused	focus	VERB
ajfa-8898	16	17	to	to	PART
ajfa-8898	16	18	analyze	analyze	VERB
ajfa-8898	16	19	the	the	DET
ajfa-8898	16	20	time	time	NOUN
ajfa-8898	16	21	series	series	PROPN
ajfa-8898	16	22	trends	trend	NOUN
ajfa-8898	16	23	in	in	ADP
ajfa-8898	16	24	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	16	25	volatility	volatility	NOUN
ajfa-8898	16	26	.	.	PUNCT
ajfa-8898	17	1	they	they	PRON
ajfa-8898	17	2	divided	divide	VERB
ajfa-8898	17	3	total	total	ADJ
ajfa-8898	17	4	volatility	volatility	NOUN
ajfa-8898	17	5	into	into	ADP
ajfa-8898	17	6	two	two	NUM
ajfa-8898	17	7	i.e.	i.e.	X
ajfa-8898	17	8	,	,	PUNCT
ajfa-8898	17	9	firm	firm	ADJ
ajfa-8898	17	10	volatility	volatility	NOUN
ajfa-8898	17	11	and	and	CCONJ
ajfa-8898	17	12	the	the	DET
ajfa-8898	17	13	market	market	NOUN
ajfa-8898	17	14	volatility	volatility	NOUN
ajfa-8898	17	15	.	.	PUNCT
ajfa-8898	18	1	employing	employ	VERB
ajfa-8898	18	2	data	datum	NOUN
ajfa-8898	18	3	for	for	ADP
ajfa-8898	18	4	period	period	NOUN
ajfa-8898	18	5	of	of	ADP
ajfa-8898	18	6	1962	1962	NUM
ajfa-8898	18	7	-	-	SYM
ajfa-8898	18	8	1997	1997	NUM
ajfa-8898	18	9	,	,	PUNCT
ajfa-8898	18	10	the	the	DET
ajfa-8898	18	11	results	result	NOUN
ajfa-8898	18	12	showed	show	VERB
ajfa-8898	18	13	that	that	SCONJ
ajfa-8898	18	14	the	the	DET
ajfa-8898	18	15	firm	firm	ADJ
ajfa-8898	18	16	level	level	NOUN
ajfa-8898	18	17	volatility	volatility	NOUN
ajfa-8898	18	18	had	have	AUX
ajfa-8898	18	19	increased	increase	VERB
ajfa-8898	18	20	over	over	ADP
ajfa-8898	18	21	a	a	DET
ajfa-8898	18	22	period	period	NOUN
ajfa-8898	18	23	of	of	ADP
ajfa-8898	18	24	time	time	NOUN
ajfa-8898	18	25	relative	relative	ADJ
ajfa-8898	18	26	to	to	ADP
ajfa-8898	18	27	market	market	NOUN
ajfa-8898	18	28	volatility	volatility	NOUN
ajfa-8898	18	29	and	and	CCONJ
ajfa-8898	18	30	as	as	SCONJ
ajfa-8898	18	31	result	result	NOUN
ajfa-8898	18	32	of	of	ADP
ajfa-8898	18	33	that	that	SCONJ
ajfa-8898	18	34	the	the	DET
ajfa-8898	18	35	explanatory	explanatory	ADJ
ajfa-8898	18	36	power	power	NOUN
ajfa-8898	18	37	of	of	ADP
ajfa-8898	18	38	market	market	NOUN
ajfa-8898	18	39	models	model	NOUN
ajfa-8898	18	40	had	have	AUX
ajfa-8898	18	41	been	be	AUX
ajfa-8898	18	42	declined	decline	VERB
ajfa-8898	18	43	.	.	PUNCT
ajfa-8898	19	1	apart	apart	ADV
ajfa-8898	19	2	from	from	ADP
ajfa-8898	19	3	this	this	PRON
ajfa-8898	19	4	,	,	PUNCT
ajfa-8898	19	5	the	the	DET
ajfa-8898	19	6	number	number	NOUN
ajfa-8898	19	7	of	of	ADP
ajfa-8898	19	8	stocks	stock	NOUN
ajfa-8898	19	9	needed	need	VERB
ajfa-8898	19	10	for	for	ADP
ajfa-8898	19	11	achieving	achieve	VERB
ajfa-8898	19	12	a	a	DET
ajfa-8898	19	13	given	give	VERB
ajfa-8898	19	14	level	level	NOUN
ajfa-8898	19	15	of	of	ADP
ajfa-8898	19	16	diversification	diversification	NOUN
ajfa-8898	19	17	had	have	AUX
ajfa-8898	19	18	increased	increase	VERB
ajfa-8898	19	19	.	.	PUNCT
ajfa-8898	20	1	in	in	ADP
ajfa-8898	20	2	line	line	NOUN
ajfa-8898	20	3	with	with	ADP
ajfa-8898	20	4	second	second	ADJ
ajfa-8898	20	5	branch	branch	NOUN
ajfa-8898	20	6	of	of	ADP
ajfa-8898	20	7	literature	literature	NOUN
ajfa-8898	20	8	,	,	PUNCT
ajfa-8898	20	9	the	the	DET
ajfa-8898	20	10	predictability	predictability	NOUN
ajfa-8898	20	11	of	of	ADP
ajfa-8898	20	12	stock	stock	NOUN
ajfa-8898	20	13	returns	return	NOUN
ajfa-8898	20	14	with	with	ADP
ajfa-8898	20	15	different	different	ADJ
ajfa-8898	20	16	risk	risk	NOUN
ajfa-8898	20	17	measures	measure	NOUN
ajfa-8898	20	18	was	be	AUX
ajfa-8898	20	19	tested	test	VERB
ajfa-8898	20	20	by	by	ADP
ajfa-8898	20	21	goyal	goyal	PROPN
ajfa-8898	20	22	and	and	CCONJ
ajfa-8898	20	23	clara	clara	PROPN
ajfa-8898	20	24	(	(	PUNCT
ajfa-8898	20	25	2003	2003	NUM
ajfa-8898	20	26	)	)	PUNCT
ajfa-8898	20	27	for	for	ADP
ajfa-8898	20	28	period	period	NOUN
ajfa-8898	20	29	of	of	ADP
ajfa-8898	20	30	july	july	PROPN
ajfa-8898	20	31	1962	1962	NUM
ajfa-8898	20	32	to	to	ADP
ajfa-8898	20	33	december	december	PROPN
ajfa-8898	20	34	1999	1999	NUM
ajfa-8898	20	35	and	and	CCONJ
ajfa-8898	20	36	showed	show	VERB
ajfa-8898	20	37	that	that	SCONJ
ajfa-8898	20	38	there	there	PRON
ajfa-8898	20	39	is	be	VERB
ajfa-8898	20	40	significant	significant	ADJ
ajfa-8898	20	41	positive	positive	ADJ
ajfa-8898	20	42	relationship	relationship	NOUN
ajfa-8898	20	43	between	between	ADP
ajfa-8898	20	44	average	average	ADJ
ajfa-8898	20	45	stock	stock	NOUN
ajfa-8898	20	46	variance	variance	NOUN
ajfa-8898	20	47	(	(	PUNCT
ajfa-8898	20	48	largely	largely	ADV
ajfa-8898	20	49	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	20	50	risk	risk	NOUN
ajfa-8898	20	51	)	)	PUNCT
ajfa-8898	20	52	and	and	CCONJ
ajfa-8898	20	53	market	market	NOUN
ajfa-8898	20	54	returns.these	returns.these	PROPN
ajfa-8898	20	55	results	result	NOUN
ajfa-8898	20	56	were	be	AUX
ajfa-8898	20	57	robust	robust	ADJ
ajfa-8898	20	58	after	after	ADP
ajfa-8898	20	59	controlling	control	VERB
ajfa-8898	20	60	for	for	ADP
ajfa-8898	20	61	various	various	ADJ
ajfa-8898	20	62	macroeconomic	macroeconomic	ADJ
ajfa-8898	20	63	risk	risk	NOUN
ajfa-8898	20	64	indicatorsi	indicatorsi	NOUN
ajfa-8898	20	65	.	.	PUNCT
ajfa-8898	21	1	these	these	DET
ajfa-8898	21	2	empirical	empirical	ADJ
ajfa-8898	21	3	evidences	evidence	NOUN
ajfa-8898	21	4	indicate	indicate	VERB
ajfa-8898	21	5	the	the	DET
ajfa-8898	21	6	significant	significant	ADJ
ajfa-8898	21	7	role	role	NOUN
ajfa-8898	21	8	of	of	ADP
ajfa-8898	21	9	iv	iv	NUM
ajfa-8898	21	10	in	in	ADP
ajfa-8898	21	11	asset	asset	NOUN
ajfa-8898	21	12	pricing	pricing	NOUN
ajfa-8898	21	13	theory	theory	NOUN
ajfa-8898	21	14	.	.	PUNCT
ajfa-8898	22	1	the	the	DET
ajfa-8898	22	2	study	study	NOUN
ajfa-8898	22	3	conducted	conduct	VERB
ajfa-8898	22	4	by	by	ADP
ajfa-8898	22	5	anget	anget	NOUN
ajfa-8898	22	6	.	.	PUNCT
ajfa-8898	23	1	al	al	PROPN
ajfa-8898	23	2	.	.	PROPN
ajfa-8898	23	3	,	,	PUNCT
ajfa-8898	23	4	(	(	PUNCT
ajfa-8898	23	5	2006	2006	NUM
ajfa-8898	23	6	)	)	PUNCT
ajfa-8898	23	7	,	,	PUNCT
ajfa-8898	23	8	provides	provide	VERB
ajfa-8898	23	9	systematic	systematic	ADJ
ajfa-8898	23	10	investigation	investigation	NOUN
ajfa-8898	23	11	of	of	ADP
ajfa-8898	23	12	pricing	pricing	NOUN
ajfa-8898	23	13	of	of	ADP
ajfa-8898	23	14	iv	iv	NUM
ajfa-8898	23	15	in	in	ADP
ajfa-8898	23	16	us	we	PRON
ajfa-8898	23	17	context	context	NOUN
ajfa-8898	23	18	using	use	VERB
ajfa-8898	23	19	the	the	DET
ajfa-8898	23	20	data	datum	NOUN
ajfa-8898	23	21	from	from	ADP
ajfa-8898	23	22	january	january	PROPN
ajfa-8898	23	23	1986	1986	NUM
ajfa-8898	23	24	to	to	ADP
ajfa-8898	23	25	december	december	PROPN
ajfa-8898	23	26	2000	2000	NUM
ajfa-8898	23	27	.	.	PUNCT
ajfa-8898	24	1	this	this	DET
ajfa-8898	24	2	study	study	NOUN
ajfa-8898	24	3	examines	examine	VERB
ajfa-8898	24	4	the	the	DET
ajfa-8898	24	5	cross	cross	ADJ
ajfa-8898	24	6	-	-	ADJ
ajfa-8898	24	7	sectional	sectional	ADJ
ajfa-8898	24	8	pricing	pricing	NOUN
ajfa-8898	24	9	ability	ability	NOUN
ajfa-8898	24	10	of	of	ADP
ajfa-8898	24	11	iv	iv	NUM
ajfa-8898	24	12	and	and	CCONJ
ajfa-8898	24	13	provides	provide	VERB
ajfa-8898	24	14	a	a	DET
ajfa-8898	24	15	puzzle	puzzle	NOUN
ajfa-8898	24	16	which	which	PRON
ajfa-8898	24	17	is	be	AUX
ajfa-8898	24	18	commonly	commonly	ADV
ajfa-8898	24	19	known	know	VERB
ajfa-8898	24	20	as	as	ADP
ajfa-8898	24	21	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	24	22	risk	risk	NOUN
ajfa-8898	24	23	puzzle	puzzle	NOUN
ajfa-8898	24	24	,	,	PUNCT
ajfa-8898	24	25	and	and	CCONJ
ajfa-8898	24	26	documented	document	VERB
ajfa-8898	24	27	a	a	DET
ajfa-8898	24	28	negative	negative	ADJ
ajfa-8898	24	29	relationship	relationship	NOUN
ajfa-8898	24	30	between	between	ADP
ajfa-8898	24	31	iv	iv	NOUN
ajfa-8898	24	32	and	and	CCONJ
ajfa-8898	24	33	stock	stock	NOUN
ajfa-8898	24	34	returns	return	NOUN
ajfa-8898	24	35	.	.	PUNCT
ajfa-8898	25	1	these	these	DET
ajfa-8898	25	2	findings	finding	NOUN
ajfa-8898	25	3	were	be	AUX
ajfa-8898	25	4	robust	robust	ADJ
ajfa-8898	25	5	after	after	ADP
ajfa-8898	25	6	controlling	control	VERB
ajfa-8898	25	7	for	for	ADP
ajfa-8898	25	8	various	various	ADJ
ajfa-8898	25	9	firm	firm	ADJ
ajfa-8898	25	10	characteristicsii	characteristicsii	NOUN
ajfa-8898	25	11	.	.	PUNCT
ajfa-8898	26	1	the	the	DET
ajfa-8898	26	2	focus	focus	NOUN
ajfa-8898	26	3	of	of	ADP
ajfa-8898	26	4	our	our	PRON
ajfa-8898	26	5	study	study	NOUN
ajfa-8898	26	6	is	be	AUX
ajfa-8898	26	7	on	on	ADP
ajfa-8898	26	8	the	the	DET
ajfa-8898	26	9	second	second	ADJ
ajfa-8898	26	10	and	and	CCONJ
ajfa-8898	26	11	third	third	ADJ
ajfa-8898	26	12	branch	branch	NOUN
ajfa-8898	26	13	of	of	ADP
ajfa-8898	26	14	literature	literature	NOUN
ajfa-8898	26	15	;	;	PUNCT
ajfa-8898	26	16	focusing	focus	VERB
ajfa-8898	26	17	on	on	ADP
ajfa-8898	26	18	the	the	DET
ajfa-8898	26	19	inter	inter	ADJ
ajfa-8898	26	20	-	-	ADJ
ajfa-8898	26	21	temporal	temporal	ADJ
ajfa-8898	26	22	relationship	relationship	NOUN
ajfa-8898	26	23	association	association	NOUN
ajfa-8898	26	24	between	between	ADP
ajfa-8898	26	25	iv	iv	ADP
ajfa-8898	26	26	and	and	CCONJ
ajfa-8898	26	27	stock	stock	NOUN
ajfa-8898	26	28	’s	’s	PART
ajfa-8898	26	29	excess	excess	ADJ
ajfa-8898	26	30	returns	return	NOUN
ajfa-8898	26	31	;	;	PUNCT
ajfa-8898	26	32	and	and	CCONJ
ajfa-8898	26	33	the	the	DET
ajfa-8898	26	34	cross	cross	ADJ
ajfa-8898	26	35	-	-	ADJ
ajfa-8898	26	36	sectional	sectional	ADJ
ajfa-8898	26	37	pricing	pricing	NOUN
ajfa-8898	26	38	ability	ability	NOUN
ajfa-8898	26	39	of	of	ADP
ajfa-8898	26	40	iv	iv	NUM
ajfa-8898	26	41	in	in	ADP
ajfa-8898	26	42	indian	indian	ADJ
ajfa-8898	26	43	stock	stock	NOUN
ajfa-8898	26	44	market	market	NOUN
ajfa-8898	26	45	.	.	PUNCT
ajfa-8898	27	1	the	the	DET
ajfa-8898	27	2	relationship	relationship	NOUN
ajfa-8898	27	3	between	between	ADP
ajfa-8898	27	4	iv	iv	NOUN
ajfa-8898	27	5	and	and	CCONJ
ajfa-8898	27	6	cross	cross	NOUN
ajfa-8898	27	7	-	-	NOUN
ajfa-8898	27	8	section	section	NOUN
ajfa-8898	27	9	of	of	ADP
ajfa-8898	27	10	stock	stock	NOUN
ajfa-8898	27	11	returns	return	NOUN
ajfa-8898	27	12	have	have	AUX
ajfa-8898	27	13	shown	show	VERB
ajfa-8898	27	14	mixed	mixed	ADJ
ajfa-8898	27	15	outcomes	outcome	NOUN
ajfa-8898	27	16	,	,	PUNCT
ajfa-8898	27	17	some	some	DET
ajfa-8898	27	18	studies	study	NOUN
ajfa-8898	27	19	reported	report	VERB
ajfa-8898	27	20	the	the	DET
ajfa-8898	27	21	significantly	significantly	ADV
ajfa-8898	27	22	positive	positive	ADJ
ajfa-8898	27	23	relationship	relationship	NOUN
ajfa-8898	27	24	while	while	SCONJ
ajfa-8898	27	25	others	other	NOUN
ajfa-8898	27	26	have	have	AUX
ajfa-8898	27	27	documented	document	VERB
ajfa-8898	27	28	asian	asian	ADJ
ajfa-8898	27	29	journal	journal	NOUN
ajfa-8898	27	30	of	of	ADP
ajfa-8898	27	31	finance	finance	PROPN
ajfa-8898	27	32	&	&	CCONJ
ajfa-8898	27	33	accounting	accounting	PROPN
ajfa-8898	27	34	issn	issn	PROPN
ajfa-8898	27	35	1946	1946	NUM
ajfa-8898	27	36	-	-	PUNCT
ajfa-8898	27	37	052x	052x	PROPN
ajfa-8898	27	38	2016	2016	NUM
ajfa-8898	27	39	,	,	PUNCT
ajfa-8898	27	40	vol	vol	NOUN
ajfa-8898	27	41	.	.	PROPN
ajfa-8898	27	42	8	8	NUM
ajfa-8898	27	43	,	,	PUNCT
ajfa-8898	27	44	no	no	INTJ
ajfa-8898	27	45	.	.	NOUN
ajfa-8898	27	46	1	1	NUM
ajfa-8898	27	47	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	27	48	3	3	NUM
ajfa-8898	27	49	that	that	SCONJ
ajfa-8898	27	50	either	either	CCONJ
ajfa-8898	27	51	there	there	PRON
ajfa-8898	27	52	is	be	VERB
ajfa-8898	27	53	no	no	DET
ajfa-8898	27	54	relationship	relationship	NOUN
ajfa-8898	27	55	or	or	CCONJ
ajfa-8898	27	56	negative	negative	ADJ
ajfa-8898	27	57	relationship	relationship	NOUN
ajfa-8898	27	58	.	.	PUNCT
ajfa-8898	28	1	the	the	DET
ajfa-8898	28	2	studies	study	NOUN
ajfa-8898	28	3	conducted	conduct	VERB
ajfa-8898	28	4	by	by	ADP
ajfa-8898	28	5	goyal	goyal	PROPN
ajfa-8898	28	6	and	and	CCONJ
ajfa-8898	28	7	clara	clara	PROPN
ajfa-8898	28	8	(	(	PUNCT
ajfa-8898	28	9	2003	2003	NUM
ajfa-8898	28	10	)	)	PUNCT
ajfa-8898	28	11	and	and	CCONJ
ajfa-8898	28	12	spiegal	spiegal	PROPN
ajfa-8898	28	13	and	and	CCONJ
ajfa-8898	28	14	wang	wang	PROPN
ajfa-8898	28	15	(	(	PUNCT
ajfa-8898	28	16	2005	2005	NUM
ajfa-8898	28	17	)	)	PUNCT
ajfa-8898	28	18	presented	present	VERB
ajfa-8898	28	19	significant	significant	ADJ
ajfa-8898	28	20	positive	positive	ADJ
ajfa-8898	28	21	relationship	relationship	NOUN
ajfa-8898	28	22	between	between	ADP
ajfa-8898	28	23	iv	iv	NOUN
ajfa-8898	28	24	and	and	CCONJ
ajfa-8898	28	25	stock	stock	NOUN
ajfa-8898	28	26	returns	return	NOUN
ajfa-8898	28	27	.	.	PUNCT
ajfa-8898	29	1	the	the	DET
ajfa-8898	29	2	findings	finding	NOUN
ajfa-8898	29	3	of	of	ADP
ajfa-8898	29	4	goyal	goyal	PROPN
ajfa-8898	29	5	and	and	CCONJ
ajfa-8898	29	6	clara	clara	PROPN
ajfa-8898	29	7	(	(	PUNCT
ajfa-8898	29	8	2003	2003	NUM
ajfa-8898	29	9	)	)	PUNCT
ajfa-8898	29	10	were	be	AUX
ajfa-8898	29	11	opposed	oppose	VERB
ajfa-8898	29	12	by	by	ADP
ajfa-8898	29	13	bali	bali	PROPN
ajfa-8898	29	14	et	et	PROPN
ajfa-8898	29	15	.	.	PUNCT
ajfa-8898	30	1	al	al	PROPN
ajfa-8898	30	2	.	.	PROPN
ajfa-8898	30	3	,	,	PUNCT
ajfa-8898	30	4	(	(	PUNCT
ajfa-8898	30	5	2005	2005	NUM
ajfa-8898	30	6	)	)	PUNCT
ajfa-8898	30	7	,	,	PUNCT
ajfa-8898	30	8	as	as	SCONJ
ajfa-8898	30	9	they	they	PRON
ajfa-8898	30	10	argued	argue	VERB
ajfa-8898	30	11	that	that	SCONJ
ajfa-8898	30	12	the	the	DET
ajfa-8898	30	13	results	result	NOUN
ajfa-8898	30	14	were	be	AUX
ajfa-8898	30	15	driven	drive	VERB
ajfa-8898	30	16	by	by	ADP
ajfa-8898	30	17	small	small	ADJ
ajfa-8898	30	18	stocks	stock	NOUN
ajfa-8898	30	19	traded	trade	VERB
ajfa-8898	30	20	on	on	ADP
ajfa-8898	30	21	nasdaq	nasdaq	PROPN
ajfa-8898	30	22	,	,	PUNCT
ajfa-8898	30	23	and	and	CCONJ
ajfa-8898	30	24	was	be	AUX
ajfa-8898	30	25	in	in	ADP
ajfa-8898	30	26	part	part	NOUN
ajfa-8898	30	27	due	due	ADP
ajfa-8898	30	28	to	to	ADP
ajfa-8898	30	29	a	a	DET
ajfa-8898	30	30	liquidity	liquidity	NOUN
ajfa-8898	30	31	premium	premium	NOUN
ajfa-8898	30	32	.	.	PUNCT
ajfa-8898	31	1	there	there	PRON
ajfa-8898	31	2	were	be	VERB
ajfa-8898	31	3	no	no	DET
ajfa-8898	31	4	evidences	evidence	NOUN
ajfa-8898	31	5	of	of	ADP
ajfa-8898	31	6	relationship	relationship	NOUN
ajfa-8898	31	7	between	between	ADP
ajfa-8898	31	8	value	value	NOUN
ajfa-8898	31	9	-	-	PUNCT
ajfa-8898	31	10	weighted	weight	VERB
ajfa-8898	31	11	portfolio	portfolio	NOUN
ajfa-8898	31	12	returns	return	NOUN
ajfa-8898	31	13	and	and	CCONJ
ajfa-8898	31	14	the	the	DET
ajfa-8898	31	15	median	median	ADJ
ajfa-8898	31	16	value	value	NOUN
ajfa-8898	31	17	-	-	PUNCT
ajfa-8898	31	18	weighted	weight	VERB
ajfa-8898	31	19	average	average	ADJ
ajfa-8898	31	20	stock	stock	NOUN
ajfa-8898	31	21	volatility	volatility	NOUN
ajfa-8898	31	22	.	.	PUNCT
ajfa-8898	32	1	the	the	DET
ajfa-8898	32	2	recent	recent	ADJ
ajfa-8898	32	3	studies	study	NOUN
ajfa-8898	32	4	conducted	conduct	VERB
ajfa-8898	32	5	by	by	ADP
ajfa-8898	32	6	fu	fu	NOUN
ajfa-8898	32	7	(	(	PUNCT
ajfa-8898	32	8	2009	2009	NUM
ajfa-8898	32	9	)	)	PUNCT
ajfa-8898	32	10	,	,	PUNCT
ajfa-8898	32	11	boehme	boehme	NOUN
ajfa-8898	32	12	et	et	PROPN
ajfa-8898	32	13	.	.	PUNCT
ajfa-8898	33	1	al	al	PROPN
ajfa-8898	33	2	.	.	PROPN
ajfa-8898	33	3	,	,	PUNCT
ajfa-8898	33	4	(	(	PUNCT
ajfa-8898	33	5	2009	2009	NUM
ajfa-8898	33	6	)	)	PUNCT
ajfa-8898	33	7	,	,	PUNCT
ajfa-8898	33	8	chua	chua	PROPN
ajfa-8898	33	9	et	et	PROPN
ajfa-8898	33	10	.	.	PUNCT
ajfa-8898	34	1	al	al	PROPN
ajfa-8898	34	2	.	.	PROPN
ajfa-8898	34	3	,	,	PUNCT
ajfa-8898	34	4	(	(	PUNCT
ajfa-8898	34	5	2010)and	2010)and	PROPN
ajfa-8898	34	6	marcelo	marcelo	PROPN
ajfa-8898	34	7	et	et	PROPN
ajfa-8898	34	8	.	.	PUNCT
ajfa-8898	35	1	al	al	PROPN
ajfa-8898	35	2	.	.	PROPN
ajfa-8898	35	3	,	,	PUNCT
ajfa-8898	35	4	(	(	PUNCT
ajfa-8898	35	5	2012	2012	NUM
ajfa-8898	35	6	)	)	PUNCT
ajfa-8898	35	7	emphasized	emphasize	VERB
ajfa-8898	35	8	on	on	ADP
ajfa-8898	35	9	the	the	DET
ajfa-8898	35	10	significant	significant	ADJ
ajfa-8898	35	11	positive	positive	ADJ
ajfa-8898	35	12	relationship	relationship	NOUN
ajfa-8898	35	13	between	between	ADP
ajfa-8898	35	14	iv	iv	NOUN
ajfa-8898	35	15	and	and	CCONJ
ajfa-8898	35	16	cross	cross	NOUN
ajfa-8898	35	17	-	-	NOUN
ajfa-8898	35	18	section	section	NOUN
ajfa-8898	35	19	of	of	ADP
ajfa-8898	35	20	stocks	stock	NOUN
ajfa-8898	35	21	returns	return	NOUN
ajfa-8898	35	22	while	while	SCONJ
ajfa-8898	35	23	the	the	DET
ajfa-8898	35	24	studies	study	NOUN
ajfa-8898	35	25	of	of	ADP
ajfa-8898	35	26	anget	anget	NOUN
ajfa-8898	35	27	.	.	PUNCT
ajfa-8898	36	1	al	al	PROPN
ajfa-8898	36	2	.	.	PROPN
ajfa-8898	36	3	,	,	PUNCT
ajfa-8898	36	4	(	(	PUNCT
ajfa-8898	36	5	2006	2006	NUM
ajfa-8898	36	6	,	,	PUNCT
ajfa-8898	36	7	2009	2009	NUM
ajfa-8898	36	8	)	)	PUNCT
ajfa-8898	36	9	,	,	PUNCT
ajfa-8898	36	10	guo	guo	PROPN
ajfa-8898	36	11	and	and	CCONJ
ajfa-8898	36	12	savickas	savickas	NOUN
ajfa-8898	36	13	(	(	PUNCT
ajfa-8898	36	14	2010	2010	NUM
ajfa-8898	36	15	)	)	PUNCT
ajfa-8898	36	16	and	and	CCONJ
ajfa-8898	36	17	bley	bley	VERB
ajfa-8898	36	18	and	and	CCONJ
ajfa-8898	36	19	saad	saad	PROPN
ajfa-8898	36	20	(	(	PUNCT
ajfa-8898	36	21	2012	2012	NUM
ajfa-8898	36	22	)	)	PUNCT
ajfa-8898	36	23	documented	document	VERB
ajfa-8898	36	24	the	the	DET
ajfa-8898	36	25	negative	negative	ADJ
ajfa-8898	36	26	relationship	relationship	NOUN
ajfa-8898	36	27	.	.	PUNCT
ajfa-8898	37	1	some	some	DET
ajfa-8898	37	2	other	other	ADJ
ajfa-8898	37	3	studies	study	NOUN
ajfa-8898	37	4	by	by	ADP
ajfa-8898	37	5	bali	bali	PROPN
ajfa-8898	37	6	et	et	PROPN
ajfa-8898	37	7	.	.	PUNCT
ajfa-8898	38	1	al	al	PROPN
ajfa-8898	38	2	.	.	PROPN
ajfa-8898	38	3	,	,	PUNCT
ajfa-8898	38	4	(	(	PUNCT
ajfa-8898	38	5	2005	2005	NUM
ajfa-8898	38	6	)	)	PUNCT
ajfa-8898	38	7	and	and	CCONJ
ajfa-8898	38	8	bali	bali	NOUN
ajfa-8898	38	9	and	and	CCONJ
ajfa-8898	38	10	cakici	cakici	PROPN
ajfa-8898	38	11	(	(	PUNCT
ajfa-8898	38	12	2008	2008	NUM
ajfa-8898	38	13	)	)	PUNCT
ajfa-8898	38	14	reported	report	VERB
ajfa-8898	38	15	no	no	DET
ajfa-8898	38	16	significant	significant	ADJ
ajfa-8898	38	17	relationship	relationship	NOUN
ajfa-8898	38	18	between	between	ADP
ajfa-8898	38	19	iv	iv	NOUN
ajfa-8898	38	20	and	and	CCONJ
ajfa-8898	38	21	cross	cross	NOUN
ajfa-8898	38	22	-	-	NOUN
ajfa-8898	38	23	section	section	NOUN
ajfa-8898	38	24	of	of	ADP
ajfa-8898	38	25	stock	stock	NOUN
ajfa-8898	38	26	returns	return	NOUN
ajfa-8898	38	27	.	.	PUNCT
ajfa-8898	39	1	the	the	DET
ajfa-8898	39	2	relationship	relationship	NOUN
ajfa-8898	39	3	between	between	ADP
ajfa-8898	39	4	cross	cross	NOUN
ajfa-8898	39	5	-	-	NOUN
ajfa-8898	39	6	section	section	NOUN
ajfa-8898	39	7	of	of	ADP
ajfa-8898	39	8	stock	stock	NOUN
ajfa-8898	39	9	returns	return	NOUN
ajfa-8898	39	10	and	and	CCONJ
ajfa-8898	39	11	iv	iv	NUM
ajfa-8898	39	12	are	be	AUX
ajfa-8898	39	13	sensitive	sensitive	ADJ
ajfa-8898	39	14	to	to	ADP
ajfa-8898	39	15	model	model	NOUN
ajfa-8898	39	16	specification	specification	NOUN
ajfa-8898	39	17	and	and	CCONJ
ajfa-8898	39	18	the	the	DET
ajfa-8898	39	19	sample	sample	NOUN
ajfa-8898	39	20	data	datum	NOUN
ajfa-8898	39	21	used	use	VERB
ajfa-8898	39	22	to	to	PART
ajfa-8898	39	23	measure	measure	VERB
ajfa-8898	39	24	the	the	DET
ajfa-8898	39	25	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	39	26	risk	risk	NOUN
ajfa-8898	39	27	and	and	CCONJ
ajfa-8898	39	28	these	these	DET
ajfa-8898	39	29	mixed	mixed	ADJ
ajfa-8898	39	30	evidences	evidence	NOUN
ajfa-8898	39	31	are	be	AUX
ajfa-8898	39	32	mainly	mainly	ADV
ajfa-8898	39	33	due	due	ADJ
ajfa-8898	39	34	to	to	ADP
ajfa-8898	39	35	lack	lack	NOUN
ajfa-8898	39	36	of	of	ADP
ajfa-8898	39	37	consistency	consistency	NOUN
ajfa-8898	39	38	choice	choice	NOUN
ajfa-8898	39	39	of	of	ADP
ajfa-8898	39	40	variable	variable	NOUN
ajfa-8898	39	41	used	use	VERB
ajfa-8898	39	42	to	to	PART
ajfa-8898	39	43	estimate	estimate	VERB
ajfa-8898	39	44	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	39	45	volatility	volatility	NOUN
ajfa-8898	39	46	.	.	PUNCT
ajfa-8898	40	1	some	some	PRON
ajfa-8898	40	2	of	of	ADP
ajfa-8898	40	3	the	the	DET
ajfa-8898	40	4	existing	exist	VERB
ajfa-8898	40	5	studies	study	NOUN
ajfa-8898	40	6	have	have	AUX
ajfa-8898	40	7	considered	consider	VERB
ajfa-8898	40	8	the	the	DET
ajfa-8898	40	9	total	total	NOUN
ajfa-8898	40	10	iv	iv	NOUN
ajfa-8898	41	1	and	and	CCONJ
ajfa-8898	41	2	while	while	SCONJ
ajfa-8898	41	3	others	other	NOUN
ajfa-8898	41	4	have	have	AUX
ajfa-8898	41	5	used	use	VERB
ajfa-8898	41	6	the	the	DET
ajfa-8898	41	7	ei	ei	PROPN
ajfa-8898	41	8	.	.	PROPN
ajfa-8898	41	9	fu	fu	PROPN
ajfa-8898	41	10	(	(	PUNCT
ajfa-8898	41	11	2009	2009	NUM
ajfa-8898	41	12	)	)	PUNCT
ajfa-8898	41	13	addressed	address	VERB
ajfa-8898	41	14	this	this	DET
ajfa-8898	41	15	issue	issue	NOUN
ajfa-8898	41	16	and	and	CCONJ
ajfa-8898	41	17	emphasized	emphasize	VERB
ajfa-8898	41	18	on	on	ADP
ajfa-8898	41	19	the	the	DET
ajfa-8898	41	20	use	use	NOUN
ajfa-8898	41	21	of	of	ADP
ajfa-8898	41	22	ei	ei	X
ajfa-8898	41	23	determined	determine	VERB
ajfa-8898	41	24	ex	ex	NOUN
ajfa-8898	41	25	-	-	NOUN
ajfa-8898	41	26	ante	ante	NOUN
ajfa-8898	41	27	,	,	PUNCT
ajfa-8898	41	28	not	not	PART
ajfa-8898	41	29	the	the	DET
ajfa-8898	41	30	total	total	ADJ
ajfa-8898	41	31	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	41	32	volatility	volatility	NOUN
ajfa-8898	41	33	,	,	PUNCT
ajfa-8898	41	34	since	since	SCONJ
ajfa-8898	41	35	the	the	DET
ajfa-8898	41	36	objective	objective	NOUN
ajfa-8898	41	37	is	be	AUX
ajfa-8898	41	38	to	to	PART
ajfa-8898	41	39	examine	examine	VERB
ajfa-8898	41	40	its	its	PRON
ajfa-8898	41	41	relationship	relationship	NOUN
ajfa-8898	41	42	with	with	ADP
ajfa-8898	41	43	expected	expect	VERB
ajfa-8898	41	44	returns	return	NOUN
ajfa-8898	41	45	.	.	PUNCT
ajfa-8898	42	1	in	in	ADP
ajfa-8898	42	2	addition	addition	NOUN
ajfa-8898	42	3	,	,	PUNCT
ajfa-8898	42	4	french	french	NOUN
ajfa-8898	42	5	,	,	PUNCT
ajfa-8898	42	6	schwert	schwert	NOUN
ajfa-8898	42	7	and	and	CCONJ
ajfa-8898	42	8	stambaugh	stambaugh	ADJ
ajfa-8898	42	9	(	(	PUNCT
ajfa-8898	42	10	1987	1987	NUM
ajfa-8898	42	11	)	)	PUNCT
ajfa-8898	42	12	indicated	indicate	VERB
ajfa-8898	42	13	that	that	SCONJ
ajfa-8898	42	14	the	the	DET
ajfa-8898	42	15	use	use	NOUN
ajfa-8898	42	16	of	of	ADP
ajfa-8898	42	17	total	total	ADJ
ajfa-8898	42	18	volatility	volatility	NOUN
ajfa-8898	42	19	may	may	AUX
ajfa-8898	42	20	present	present	VERB
ajfa-8898	42	21	some	some	DET
ajfa-8898	42	22	obscure	obscure	ADJ
ajfa-8898	42	23	relationship	relationship	NOUN
ajfa-8898	42	24	between	between	ADP
ajfa-8898	42	25	the	the	DET
ajfa-8898	42	26	market	market	NOUN
ajfa-8898	42	27	returns	return	NOUN
ajfa-8898	42	28	and	and	CCONJ
ajfa-8898	42	29	market	market	NOUN
ajfa-8898	42	30	volatility	volatility	NOUN
ajfa-8898	42	31	,	,	PUNCT
ajfa-8898	42	32	and	and	CCONJ
ajfa-8898	42	33	suggested	suggest	VERB
ajfa-8898	42	34	to	to	PART
ajfa-8898	42	35	decompose	decompose	VERB
ajfa-8898	42	36	the	the	DET
ajfa-8898	42	37	total	total	ADJ
ajfa-8898	42	38	volatility	volatility	NOUN
ajfa-8898	42	39	to	to	PART
ajfa-8898	42	40	predictive	predictive	VERB
ajfa-8898	42	41	and	and	CCONJ
ajfa-8898	42	42	un	un	ADJ
ajfa-8898	42	43	-	-	ADJ
ajfa-8898	42	44	predictive	predictive	ADJ
ajfa-8898	42	45	components	component	NOUN
ajfa-8898	42	46	.	.	PUNCT
ajfa-8898	43	1	following	follow	VERB
ajfa-8898	43	2	this	this	DET
ajfa-8898	43	3	decomposition	decomposition	NOUN
ajfa-8898	43	4	approach	approach	NOUN
ajfa-8898	43	5	,	,	PUNCT
ajfa-8898	43	6	chua	chua	PROPN
ajfa-8898	43	7	et	et	AUX
ajfa-8898	43	8	.	.	PUNCT
ajfa-8898	44	1	al	al	PROPN
ajfa-8898	44	2	.	.	PROPN
ajfa-8898	44	3	,	,	PUNCT
ajfa-8898	44	4	(	(	PUNCT
ajfa-8898	44	5	2010	2010	NUM
ajfa-8898	44	6	)	)	PUNCT
ajfa-8898	44	7	decomposed	decompose	VERB
ajfa-8898	44	8	the	the	DET
ajfa-8898	44	9	iv	iv	NOUN
ajfa-8898	44	10	into	into	ADP
ajfa-8898	44	11	two	two	NUM
ajfa-8898	44	12	,	,	PUNCT
ajfa-8898	44	13	ei	ei	NOUN
ajfa-8898	44	14	and	and	CCONJ
ajfa-8898	44	15	ui	ui	PROPN
ajfa-8898	44	16	and	and	CCONJ
ajfa-8898	44	17	reported	report	VERB
ajfa-8898	44	18	that	that	SCONJ
ajfa-8898	44	19	ui	ui	PROPN
ajfa-8898	44	20	controls	control	VERB
ajfa-8898	44	21	for	for	ADP
ajfa-8898	44	22	unexpected	unexpected	ADJ
ajfa-8898	44	23	component	component	NOUN
ajfa-8898	44	24	of	of	ADP
ajfa-8898	44	25	returns	return	NOUN
ajfa-8898	44	26	.	.	PUNCT
ajfa-8898	45	1	the	the	DET
ajfa-8898	45	2	ei	ei	NOUN
ajfa-8898	45	3	explains	explain	VERB
ajfa-8898	45	4	cross	cross	NOUN
ajfa-8898	45	5	-	-	NOUN
ajfa-8898	45	6	section	section	NOUN
ajfa-8898	45	7	of	of	ADP
ajfa-8898	45	8	stock	stock	NOUN
ajfa-8898	45	9	returns	return	NOUN
ajfa-8898	45	10	significantly	significantly	ADV
ajfa-8898	45	11	and	and	CCONJ
ajfa-8898	45	12	have	have	VERB
ajfa-8898	45	13	a	a	DET
ajfa-8898	45	14	positive	positive	ADJ
ajfa-8898	45	15	relationship	relationship	NOUN
ajfa-8898	45	16	with	with	ADP
ajfa-8898	45	17	returns	return	NOUN
ajfa-8898	45	18	.	.	PUNCT
ajfa-8898	46	1	as	as	SCONJ
ajfa-8898	46	2	discussed	discuss	VERB
ajfa-8898	46	3	above	above	ADV
ajfa-8898	46	4	,	,	PUNCT
ajfa-8898	46	5	numerous	numerous	ADJ
ajfa-8898	46	6	evidences	evidence	NOUN
ajfa-8898	46	7	on	on	ADP
ajfa-8898	46	8	relationship	relationship	NOUN
ajfa-8898	46	9	between	between	ADP
ajfa-8898	46	10	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	46	11	volatility	volatility	NOUN
ajfa-8898	46	12	and	and	CCONJ
ajfa-8898	46	13	cross	cross	NOUN
ajfa-8898	46	14	-	-	NOUN
ajfa-8898	46	15	section	section	NOUN
ajfa-8898	46	16	of	of	ADP
ajfa-8898	46	17	stocks	stock	NOUN
ajfa-8898	46	18	returns	return	NOUN
ajfa-8898	46	19	exist	exist	VERB
ajfa-8898	46	20	in	in	ADP
ajfa-8898	46	21	global	global	ADJ
ajfa-8898	46	22	context	context	NOUN
ajfa-8898	46	23	,	,	PUNCT
ajfa-8898	46	24	but	but	CCONJ
ajfa-8898	46	25	there	there	PRON
ajfa-8898	46	26	is	be	VERB
ajfa-8898	46	27	dearth	dearth	NOUN
ajfa-8898	46	28	of	of	ADP
ajfa-8898	46	29	literature	literature	NOUN
ajfa-8898	46	30	in	in	ADP
ajfa-8898	46	31	indian	indian	ADJ
ajfa-8898	46	32	context	context	NOUN
ajfa-8898	46	33	.	.	PUNCT
ajfa-8898	47	1	in	in	ADP
ajfa-8898	47	2	this	this	DET
ajfa-8898	47	3	background	background	NOUN
ajfa-8898	47	4	,	,	PUNCT
ajfa-8898	47	5	the	the	DET
ajfa-8898	47	6	present	present	ADJ
ajfa-8898	47	7	study	study	NOUN
ajfa-8898	47	8	has	have	AUX
ajfa-8898	47	9	been	be	AUX
ajfa-8898	47	10	designed	design	VERB
ajfa-8898	47	11	to	to	PART
ajfa-8898	47	12	:	:	PUNCT
ajfa-8898	47	13	examine	examine	VERB
ajfa-8898	47	14	the	the	DET
ajfa-8898	47	15	cross	cross	ADJ
ajfa-8898	47	16	-	-	ADJ
ajfa-8898	47	17	sectional	sectional	ADJ
ajfa-8898	47	18	pricing	pricing	NOUN
ajfa-8898	47	19	ability	ability	NOUN
ajfa-8898	47	20	of	of	ADP
ajfa-8898	47	21	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	47	22	risk	risk	NOUN
ajfa-8898	47	23	in	in	ADP
ajfa-8898	47	24	indian	indian	ADJ
ajfa-8898	47	25	context	context	NOUN
ajfa-8898	47	26	;	;	PUNCT
ajfa-8898	47	27	and	and	CCONJ
ajfa-8898	47	28	investigates	investigate	VERB
ajfa-8898	47	29	the	the	DET
ajfa-8898	47	30	empirical	empirical	ADJ
ajfa-8898	47	31	relationship	relationship	NOUN
ajfa-8898	47	32	amongst	amongst	ADP
ajfa-8898	47	33	ei	ei	PROPN
ajfa-8898	47	34	,	,	PUNCT
ajfa-8898	47	35	ui	ui	PROPN
ajfa-8898	47	36	,	,	PUNCT
ajfa-8898	47	37	and	and	CCONJ
ajfa-8898	47	38	stocks	stock	VERB
ajfa-8898	47	39	excess	excess	ADJ
ajfa-8898	47	40	returns	return	NOUN
ajfa-8898	47	41	.	.	PUNCT
ajfa-8898	48	1	the	the	DET
ajfa-8898	48	2	present	present	ADJ
ajfa-8898	48	3	study	study	NOUN
ajfa-8898	48	4	contributes	contribute	VERB
ajfa-8898	48	5	in	in	ADP
ajfa-8898	48	6	the	the	DET
ajfa-8898	48	7	existing	exist	VERB
ajfa-8898	48	8	body	body	NOUN
ajfa-8898	48	9	of	of	ADP
ajfa-8898	48	10	literature	literature	NOUN
ajfa-8898	48	11	by	by	ADP
ajfa-8898	48	12	improving	improve	VERB
ajfa-8898	48	13	the	the	DET
ajfa-8898	48	14	international	international	ADJ
ajfa-8898	48	15	evidences	evidence	NOUN
ajfa-8898	48	16	with	with	ADP
ajfa-8898	48	17	the	the	DET
ajfa-8898	48	18	exclusive	exclusive	ADJ
ajfa-8898	48	19	in	in	ADP
ajfa-8898	48	20	-	-	PUNCT
ajfa-8898	48	21	depthanalysis	depthanalysis	NOUN
ajfa-8898	48	22	of	of	ADP
ajfa-8898	48	23	the	the	DET
ajfa-8898	48	24	indian	indian	ADJ
ajfa-8898	48	25	market	market	NOUN
ajfa-8898	48	26	which	which	PRON
ajfa-8898	48	27	is	be	AUX
ajfa-8898	48	28	relatively	relatively	ADV
ajfa-8898	48	29	less	less	ADV
ajfa-8898	48	30	explored	explore	VERB
ajfa-8898	48	31	.	.	PUNCT
ajfa-8898	49	1	the	the	DET
ajfa-8898	49	2	study	study	NOUN
ajfa-8898	49	3	follows	follow	VERB
ajfa-8898	49	4	the	the	DET
ajfa-8898	49	5	approach	approach	NOUN
ajfa-8898	49	6	of	of	ADP
ajfa-8898	49	7	chua	chua	PROPN
ajfa-8898	49	8	et	et	PROPN
ajfa-8898	49	9	.	.	PUNCT
ajfa-8898	50	1	al	al	PROPN
ajfa-8898	50	2	.	.	PROPN
ajfa-8898	50	3	,	,	PUNCT
ajfa-8898	50	4	(	(	PUNCT
ajfa-8898	50	5	2010	2010	NUM
ajfa-8898	50	6	)	)	PUNCT
ajfa-8898	50	7	for	for	ADP
ajfa-8898	50	8	estimation	estimation	NOUN
ajfa-8898	50	9	of	of	ADP
ajfa-8898	50	10	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	50	11	volatility	volatility	NOUN
ajfa-8898	50	12	.	.	PUNCT
ajfa-8898	51	1	similar	similar	ADJ
ajfa-8898	51	2	to	to	ADP
ajfa-8898	51	3	french	french	PROPN
ajfa-8898	51	4	,	,	PUNCT
ajfa-8898	51	5	schwert	schwert	NOUN
ajfa-8898	51	6	and	and	CCONJ
ajfa-8898	51	7	stambaugh	stambaugh	ADJ
ajfa-8898	51	8	(	(	PUNCT
ajfa-8898	51	9	1987	1987	NUM
ajfa-8898	51	10	)	)	PUNCT
ajfa-8898	51	11	,	,	PUNCT
ajfa-8898	51	12	the	the	DET
ajfa-8898	51	13	study	study	NOUN
ajfa-8898	51	14	employs	employ	VERB
ajfa-8898	51	15	arima	arima	PROPN
ajfa-8898	51	16	(	(	PUNCT
ajfa-8898	51	17	2	2	NUM
ajfa-8898	51	18	,	,	PUNCT
ajfa-8898	51	19	0	0	NUM
ajfa-8898	51	20	,	,	PUNCT
ajfa-8898	51	21	1	1	NUM
ajfa-8898	51	22	)	)	PUNCT
ajfa-8898	51	23	or	or	CCONJ
ajfa-8898	51	24	arma	arma	PROPN
ajfa-8898	51	25	(	(	PUNCT
ajfa-8898	51	26	2	2	NUM
ajfa-8898	51	27	,	,	PUNCT
ajfa-8898	51	28	1	1	X
ajfa-8898	51	29	)	)	PUNCT
ajfa-8898	51	30	model	model	NOUN
ajfa-8898	51	31	for	for	ADP
ajfa-8898	51	32	decomposition	decomposition	NOUN
ajfa-8898	51	33	of	of	ADP
ajfa-8898	51	34	iv	iv	NOUN
ajfa-8898	51	35	into	into	ADP
ajfa-8898	51	36	ei	ei	NOUN
ajfa-8898	51	37	and	and	CCONJ
ajfa-8898	51	38	ui	ui	PROPN
ajfa-8898	51	39	.	.	PUNCT
ajfa-8898	52	1	the	the	DET
ajfa-8898	52	2	study	study	NOUN
ajfa-8898	52	3	employs	employ	VERB
ajfa-8898	52	4	monthly	monthly	ADJ
ajfa-8898	52	5	data	datum	NOUN
ajfa-8898	52	6	from	from	ADP
ajfa-8898	52	7	2001	2001	NUM
ajfa-8898	52	8	(	(	PUNCT
ajfa-8898	52	9	fy	fy	PROPN
ajfa-8898	52	10	)	)	PUNCT
ajfa-8898	52	11	to	to	ADP
ajfa-8898	52	12	2012	2012	NUM
ajfa-8898	52	13	(	(	PUNCT
ajfa-8898	52	14	fy	fy	PROPN
ajfa-8898	52	15	)	)	PUNCT
ajfa-8898	52	16	of	of	ADP
ajfa-8898	52	17	non	non	ADJ
ajfa-8898	52	18	banking	banking	NOUN
ajfa-8898	52	19	and	and	CCONJ
ajfa-8898	52	20	financial	financial	ADJ
ajfa-8898	52	21	companies	company	NOUN
ajfa-8898	52	22	of	of	ADP
ajfa-8898	52	23	bse	bse	PROPN
ajfa-8898	52	24	500	500	NUM
ajfa-8898	52	25	index	index	NOUN
ajfa-8898	52	26	.	.	PUNCT
ajfa-8898	53	1	for	for	ADP
ajfa-8898	53	2	estimation	estimation	NOUN
ajfa-8898	53	3	of	of	ADP
ajfa-8898	53	4	iv	iv	NUM
ajfa-8898	53	5	,	,	PUNCT
ajfa-8898	53	6	the	the	DET
ajfa-8898	53	7	monthly	monthly	ADJ
ajfa-8898	53	8	fama	fama	NOUN
ajfa-8898	53	9	french	french	NOUN
ajfa-8898	53	10	(	(	PUNCT
ajfa-8898	53	11	1993	1993	NUM
ajfa-8898	53	12	)	)	PUNCT
ajfa-8898	53	13	factorsiiiare	factorsiiiare	NOUN
ajfa-8898	53	14	regressed	regress	VERB
ajfa-8898	53	15	on	on	ADP
ajfa-8898	53	16	monthly	monthly	ADJ
ajfa-8898	53	17	returns	return	NOUN
ajfa-8898	53	18	of	of	ADP
ajfa-8898	53	19	the	the	DET
ajfa-8898	53	20	individual	individual	ADJ
ajfa-8898	53	21	sample	sample	NOUN
ajfa-8898	53	22	firms	firm	NOUN
ajfa-8898	53	23	.	.	PUNCT
ajfa-8898	54	1	the	the	DET
ajfa-8898	54	2	square	square	NOUN
ajfa-8898	54	3	of	of	ADP
ajfa-8898	54	4	the	the	DET
ajfa-8898	54	5	resulting	result	VERB
ajfa-8898	54	6	regression	regression	NOUN
ajfa-8898	54	7	residuals	residual	NOUN
ajfa-8898	54	8	are	be	AUX
ajfa-8898	54	9	treated	treat	VERB
ajfa-8898	54	10	as	as	ADP
ajfa-8898	54	11	iv	iv	NUM
ajfa-8898	54	12	of	of	ADP
ajfa-8898	54	13	the	the	DET
ajfa-8898	54	14	particular	particular	ADJ
ajfa-8898	54	15	firm	firm	NOUN
ajfa-8898	54	16	.	.	PUNCT
ajfa-8898	55	1	additionally	additionally	ADV
ajfa-8898	55	2	,	,	PUNCT
ajfa-8898	55	3	for	for	ADP
ajfa-8898	55	4	decomposition	decomposition	NOUN
ajfa-8898	55	5	of	of	ADP
ajfa-8898	55	6	iv	iv	NUM
ajfa-8898	55	7	,	,	PUNCT
ajfa-8898	55	8	arma	arma	PROPN
ajfa-8898	55	9	(	(	PUNCT
ajfa-8898	55	10	2	2	NUM
ajfa-8898	55	11	,	,	PUNCT
ajfa-8898	55	12	1	1	X
ajfa-8898	55	13	)	)	PUNCT
ajfa-8898	55	14	model	model	NOUN
ajfa-8898	55	15	is	be	AUX
ajfa-8898	55	16	pressed	press	VERB
ajfa-8898	55	17	into	into	ADP
ajfa-8898	55	18	service	service	NOUN
ajfa-8898	55	19	for	for	ADP
ajfa-8898	55	20	each	each	DET
ajfa-8898	55	21	company	company	NOUN
ajfa-8898	55	22	and	and	CCONJ
ajfa-8898	55	23	the	the	DET
ajfa-8898	55	24	fitted	fit	VERB
ajfa-8898	55	25	values	value	NOUN
ajfa-8898	55	26	are	be	AUX
ajfa-8898	55	27	termed	term	VERB
ajfa-8898	55	28	as	as	ADP
ajfa-8898	55	29	the	the	DET
ajfa-8898	55	30	ei	ei	NOUN
ajfa-8898	55	31	and	and	CCONJ
ajfa-8898	55	32	the	the	DET
ajfa-8898	55	33	residuals	residual	NOUN
ajfa-8898	55	34	are	be	AUX
ajfa-8898	55	35	termed	term	VERB
ajfa-8898	55	36	as	as	ADP
ajfa-8898	55	37	ui	ui	PROPN
ajfa-8898	55	38	.	.	PUNCT
ajfa-8898	56	1	in	in	ADP
ajfa-8898	56	2	order	order	NOUN
ajfa-8898	56	3	examine	examine	VERB
ajfa-8898	56	4	the	the	DET
ajfa-8898	56	5	cross	cross	ADJ
ajfa-8898	56	6	-	-	ADJ
ajfa-8898	56	7	section	section	ADJ
ajfa-8898	56	8	pricing	pricing	NOUN
ajfa-8898	56	9	ability	ability	NOUN
ajfa-8898	56	10	of	of	ADP
ajfa-8898	56	11	iv	iv	NUM
ajfa-8898	56	12	,	,	PUNCT
ajfa-8898	56	13	ei	ei	NOUN
ajfa-8898	56	14	and	and	CCONJ
ajfa-8898	56	15	ui	ui	PROPN
ajfa-8898	56	16	,	,	PUNCT
ajfa-8898	56	17	the	the	DET
ajfa-8898	56	18	cross	cross	ADJ
ajfa-8898	56	19	-	-	ADJ
ajfa-8898	56	20	sectional	sectional	ADJ
ajfa-8898	56	21	regression	regression	NOUN
ajfa-8898	56	22	analysis	analysis	NOUN
ajfa-8898	56	23	are	be	AUX
ajfa-8898	56	24	conducted	conduct	VERB
ajfa-8898	56	25	with	with	ADP
ajfa-8898	56	26	the	the	DET
ajfa-8898	56	27	estimation	estimation	NOUN
ajfa-8898	56	28	of	of	ADP
ajfa-8898	56	29	newey	newey	PROPN
ajfa-8898	56	30	-	-	PUNCT
ajfa-8898	56	31	west	west	PROPN
ajfa-8898	56	32	(	(	PUNCT
ajfa-8898	56	33	1987	1987	NUM
ajfa-8898	56	34	)	)	PUNCT
ajfa-8898	56	35	t	t	PROPN
ajfa-8898	56	36	-	-	PUNCT
ajfa-8898	56	37	statistics	statistic	NOUN
ajfa-8898	56	38	.	.	PUNCT
ajfa-8898	57	1	the	the	DET
ajfa-8898	57	2	robustness	robustness	NOUN
ajfa-8898	57	3	of	of	ADP
ajfa-8898	57	4	the	the	DET
ajfa-8898	57	5	asian	asian	ADJ
ajfa-8898	57	6	journal	journal	NOUN
ajfa-8898	57	7	of	of	ADP
ajfa-8898	57	8	finance	finance	PROPN
ajfa-8898	57	9	&	&	CCONJ
ajfa-8898	57	10	accounting	accounting	PROPN
ajfa-8898	57	11	issn	issn	PROPN
ajfa-8898	57	12	1946	1946	NUM
ajfa-8898	57	13	-	-	PUNCT
ajfa-8898	57	14	052x	052x	PROPN
ajfa-8898	57	15	2016	2016	NUM
ajfa-8898	57	16	,	,	PUNCT
ajfa-8898	57	17	vol	vol	NOUN
ajfa-8898	57	18	.	.	PROPN
ajfa-8898	57	19	8	8	NUM
ajfa-8898	57	20	,	,	PUNCT
ajfa-8898	57	21	no	no	INTJ
ajfa-8898	57	22	.	.	NOUN
ajfa-8898	57	23	1	1	NUM
ajfa-8898	57	24	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	57	25	4	4	NUM
ajfa-8898	57	26	relationship	relationship	NOUN
ajfa-8898	57	27	is	be	AUX
ajfa-8898	57	28	tested	test	VERB
ajfa-8898	57	29	after	after	ADP
ajfa-8898	57	30	controlling	control	VERB
ajfa-8898	57	31	for	for	ADP
ajfa-8898	57	32	various	various	ADJ
ajfa-8898	57	33	firm	firm	ADJ
ajfa-8898	57	34	characteristics	characteristic	NOUN
ajfa-8898	57	35	such	such	ADJ
ajfa-8898	57	36	as	as	ADP
ajfa-8898	57	37	market	market	NOUN
ajfa-8898	57	38	capitalization	capitalization	NOUN
ajfa-8898	57	39	and	and	CCONJ
ajfa-8898	57	40	book	book	NOUN
ajfa-8898	57	41	to	to	PART
ajfa-8898	57	42	market	market	NOUN
ajfa-8898	57	43	equity	equity	NOUN
ajfa-8898	57	44	ratio	ratio	NOUN
ajfa-8898	57	45	.	.	PUNCT
ajfa-8898	58	1	the	the	DET
ajfa-8898	58	2	study	study	NOUN
ajfa-8898	58	3	finds	find	VERB
ajfa-8898	58	4	a	a	DET
ajfa-8898	58	5	significant	significant	ADJ
ajfa-8898	58	6	positive	positive	ADJ
ajfa-8898	58	7	relationship	relationship	NOUN
ajfa-8898	58	8	between	between	ADP
ajfa-8898	58	9	ei	ei	NOUN
ajfa-8898	58	10	and	and	CCONJ
ajfa-8898	58	11	stocks	stock	NOUN
ajfa-8898	58	12	expected	expect	VERB
ajfa-8898	58	13	returns	return	NOUN
ajfa-8898	58	14	,	,	PUNCT
ajfa-8898	58	15	that	that	PRON
ajfa-8898	58	16	is	be	AUX
ajfa-8898	58	17	consistent	consistent	ADJ
ajfa-8898	58	18	with	with	ADP
ajfa-8898	58	19	studies	study	NOUN
ajfa-8898	58	20	of	of	ADP
ajfa-8898	58	21	merton	merton	NOUN
ajfa-8898	58	22	(	(	PUNCT
ajfa-8898	58	23	1987	1987	NUM
ajfa-8898	58	24	)	)	PUNCT
ajfa-8898	58	25	,	,	PUNCT
ajfa-8898	58	26	fu	fu	NOUN
ajfa-8898	58	27	(	(	PUNCT
ajfa-8898	58	28	2009	2009	NUM
ajfa-8898	58	29	)	)	PUNCT
ajfa-8898	58	30	and	and	CCONJ
ajfa-8898	58	31	chua	chua	PROPN
ajfa-8898	58	32	et	et	PROPN
ajfa-8898	58	33	.	.	PUNCT
ajfa-8898	59	1	al	al	PROPN
ajfa-8898	59	2	.	.	PROPN
ajfa-8898	59	3	,	,	PUNCT
ajfa-8898	59	4	(	(	PUNCT
ajfa-8898	59	5	2010	2010	NUM
ajfa-8898	59	6	)	)	PUNCT
ajfa-8898	59	7	which	which	PRON
ajfa-8898	59	8	reported	report	VERB
ajfa-8898	59	9	the	the	DET
ajfa-8898	59	10	significant	significant	ADJ
ajfa-8898	59	11	robust	robust	ADJ
ajfa-8898	59	12	relationship	relationship	NOUN
ajfa-8898	59	13	between	between	ADP
ajfa-8898	59	14	ei	ei	NOUN
ajfa-8898	59	15	and	and	CCONJ
ajfa-8898	59	16	expected	expect	VERB
ajfa-8898	59	17	returns	return	NOUN
ajfa-8898	59	18	.	.	PUNCT
ajfa-8898	60	1	our	our	PRON
ajfa-8898	60	2	results	result	NOUN
ajfa-8898	60	3	are	be	AUX
ajfa-8898	60	4	different	different	ADJ
ajfa-8898	60	5	with	with	ADP
ajfa-8898	60	6	the	the	DET
ajfa-8898	60	7	studies	study	NOUN
ajfa-8898	60	8	of	of	ADP
ajfa-8898	60	9	anget	anget	NOUN
ajfa-8898	60	10	.	.	PUNCT
ajfa-8898	61	1	al	al	PROPN
ajfa-8898	61	2	.	.	PROPN
ajfa-8898	61	3	,	,	PUNCT
ajfa-8898	61	4	(	(	PUNCT
ajfa-8898	61	5	2006	2006	NUM
ajfa-8898	61	6	,	,	PUNCT
ajfa-8898	61	7	2009	2009	NUM
ajfa-8898	61	8	)	)	PUNCT
ajfa-8898	61	9	indicating	indicate	VERB
ajfa-8898	61	10	negative	negative	ADJ
ajfa-8898	61	11	relationship	relationship	NOUN
ajfa-8898	61	12	between	between	ADP
ajfa-8898	61	13	the	the	DET
ajfa-8898	61	14	two	two	NUM
ajfa-8898	61	15	,	,	PUNCT
ajfa-8898	61	16	wherein	wherein	ADJ
ajfa-8898	61	17	bali	bali	PROPN
ajfa-8898	61	18	and	and	CCONJ
ajfa-8898	61	19	cakici	cakici	PROPN
ajfa-8898	61	20	(	(	PUNCT
ajfa-8898	61	21	2008	2008	NUM
ajfa-8898	61	22	)	)	PUNCT
ajfa-8898	61	23	found	find	VERB
ajfa-8898	61	24	no	no	DET
ajfa-8898	61	25	significantly	significantly	ADV
ajfa-8898	61	26	robust	robust	ADJ
ajfa-8898	61	27	relationship	relationship	NOUN
ajfa-8898	61	28	between	between	ADP
ajfa-8898	61	29	iv	iv	ADV
ajfa-8898	61	30	and	and	CCONJ
ajfa-8898	61	31	expected	expect	VERB
ajfa-8898	61	32	returns	return	NOUN
ajfa-8898	61	33	.	.	PUNCT
ajfa-8898	62	1	the	the	DET
ajfa-8898	62	2	study	study	NOUN
ajfa-8898	62	3	has	have	AUX
ajfa-8898	62	4	been	be	AUX
ajfa-8898	62	5	structured	structure	VERB
ajfa-8898	62	6	in	in	ADP
ajfa-8898	62	7	following	follow	VERB
ajfa-8898	62	8	sections	section	NOUN
ajfa-8898	62	9	.	.	PUNCT
ajfa-8898	63	1	section	section	NOUN
ajfa-8898	63	2	2	2	NUM
ajfa-8898	63	3	presents	present	VERB
ajfa-8898	63	4	the	the	DET
ajfa-8898	63	5	data	datum	NOUN
ajfa-8898	63	6	and	and	CCONJ
ajfa-8898	63	7	empirical	empirical	ADJ
ajfa-8898	63	8	methodology	methodology	NOUN
ajfa-8898	63	9	for	for	ADP
ajfa-8898	63	10	estimation	estimation	NOUN
ajfa-8898	63	11	of	of	ADP
ajfa-8898	63	12	iv	iv	NUM
ajfa-8898	63	13	and	and	CCONJ
ajfa-8898	63	14	section	section	NOUN
ajfa-8898	63	15	3	3	NUM
ajfa-8898	63	16	presents	present	VERB
ajfa-8898	63	17	the	the	DET
ajfa-8898	63	18	empirical	empirical	ADJ
ajfa-8898	63	19	results	result	NOUN
ajfa-8898	63	20	and	and	CCONJ
ajfa-8898	63	21	findings	finding	NOUN
ajfa-8898	63	22	of	of	ADP
ajfa-8898	63	23	the	the	DET
ajfa-8898	63	24	study	study	NOUN
ajfa-8898	63	25	and	and	CCONJ
ajfa-8898	63	26	we	we	PRON
ajfa-8898	63	27	conclude	conclude	VERB
ajfa-8898	63	28	with	with	ADP
ajfa-8898	63	29	section	section	NOUN
ajfa-8898	63	30	4	4	NUM
ajfa-8898	63	31	.	.	NOUN
ajfa-8898	63	32	2	2	NUM
ajfa-8898	63	33	.	.	X
ajfa-8898	63	34	data	datum	NOUN
ajfa-8898	63	35	and	and	CCONJ
ajfa-8898	63	36	methodology	methodology	NOUN
ajfa-8898	63	37	for	for	ADP
ajfa-8898	63	38	estimation	estimation	NOUN
ajfa-8898	63	39	of	of	ADP
ajfa-8898	63	40	volatility	volatility	NOUN
ajfa-8898	63	41	the	the	DET
ajfa-8898	63	42	study	study	NOUN
ajfa-8898	63	43	employs	employ	VERB
ajfa-8898	63	44	monthly	monthly	ADJ
ajfa-8898	63	45	data	datum	NOUN
ajfa-8898	63	46	on	on	ADP
ajfa-8898	63	47	stocks	stock	NOUN
ajfa-8898	63	48	returns	return	NOUN
ajfa-8898	63	49	,	,	PUNCT
ajfa-8898	63	50	market	market	NOUN
ajfa-8898	63	51	returns	return	NOUN
ajfa-8898	63	52	,	,	PUNCT
ajfa-8898	63	53	91	91	NUM
ajfa-8898	63	54	dayst	dayst	NOUN
ajfa-8898	63	55	-	-	PUNCT
ajfa-8898	63	56	bills	bill	NOUN
ajfa-8898	63	57	rates	rate	NOUN
ajfa-8898	63	58	,	,	PUNCT
ajfa-8898	63	59	smb	smb	PROPN
ajfa-8898	63	60	and	and	CCONJ
ajfa-8898	63	61	hml	hml	PROPN
ajfa-8898	63	62	of	of	ADP
ajfa-8898	63	63	bse	bse	PROPN
ajfa-8898	63	64	500	500	NUM
ajfa-8898	63	65	companies	company	NOUN
ajfa-8898	63	66	(	(	PUNCT
ajfa-8898	63	67	except	except	SCONJ
ajfa-8898	63	68	banking	banking	NOUN
ajfa-8898	63	69	and	and	CCONJ
ajfa-8898	63	70	financial	financial	ADJ
ajfa-8898	63	71	institutions	institution	NOUN
ajfa-8898	63	72	)	)	PUNCT
ajfa-8898	63	73	from	from	ADP
ajfa-8898	63	74	2001(fy	2001(fy	NUM
ajfa-8898	63	75	)	)	PUNCT
ajfa-8898	63	76	to	to	ADP
ajfa-8898	63	77	2012	2012	NUM
ajfa-8898	63	78	(	(	PUNCT
ajfa-8898	63	79	fy	fy	PROPN
ajfa-8898	63	80	)	)	PUNCT
ajfa-8898	63	81	.	.	PUNCT
ajfa-8898	64	1	the	the	DET
ajfa-8898	64	2	data	datum	NOUN
ajfa-8898	64	3	are	be	AUX
ajfa-8898	64	4	collected	collect	VERB
ajfa-8898	64	5	from	from	ADP
ajfa-8898	64	6	cmie	cmie	PROPN
ajfa-8898	64	7	(	(	PUNCT
ajfa-8898	64	8	center	center	NOUN
ajfa-8898	64	9	for	for	ADP
ajfa-8898	64	10	monitoring	monitor	VERB
ajfa-8898	64	11	indian	indian	ADJ
ajfa-8898	64	12	economy	economy	NOUN
ajfa-8898	64	13	)	)	PUNCT
ajfa-8898	64	14	prowess	prowess	NOUN
ajfa-8898	64	15	4.0	4.0	NUM
ajfa-8898	64	16	data	datum	NOUN
ajfa-8898	64	17	base	base	NOUN
ajfa-8898	64	18	and	and	CCONJ
ajfa-8898	64	19	the	the	DET
ajfa-8898	64	20	indiastatdsatabase	indiastatdsatabase	NOUN
ajfa-8898	64	21	.	.	PUNCT
ajfa-8898	65	1	in	in	ADP
ajfa-8898	65	2	order	order	NOUN
ajfa-8898	65	3	to	to	PART
ajfa-8898	65	4	maintain	maintain	VERB
ajfa-8898	65	5	the	the	DET
ajfa-8898	65	6	consistency	consistency	NOUN
ajfa-8898	65	7	in	in	ADP
ajfa-8898	65	8	the	the	DET
ajfa-8898	65	9	data	datum	NOUN
ajfa-8898	65	10	,	,	PUNCT
ajfa-8898	65	11	only	only	ADV
ajfa-8898	65	12	those	those	DET
ajfa-8898	65	13	firms	firm	NOUN
ajfa-8898	65	14	are	be	AUX
ajfa-8898	65	15	considered	consider	VERB
ajfa-8898	65	16	which	which	PRON
ajfa-8898	65	17	are	be	AUX
ajfa-8898	65	18	having	have	VERB
ajfa-8898	65	19	data	datum	NOUN
ajfa-8898	65	20	for	for	ADP
ajfa-8898	65	21	full	full	ADJ
ajfa-8898	65	22	sample	sample	NOUN
ajfa-8898	65	23	period	period	NOUN
ajfa-8898	65	24	;	;	PUNCT
ajfa-8898	65	25	this	this	DET
ajfa-8898	65	26	number	number	NOUN
ajfa-8898	65	27	turns	turn	VERB
ajfa-8898	65	28	out	out	ADP
ajfa-8898	65	29	to	to	PART
ajfa-8898	65	30	be	be	AUX
ajfa-8898	65	31	273	273	NUM
ajfa-8898	65	32	firms	firm	NOUN
ajfa-8898	65	33	.	.	PUNCT
ajfa-8898	66	1	the	the	DET
ajfa-8898	66	2	data	datum	NOUN
ajfa-8898	66	3	on	on	ADP
ajfa-8898	66	4	variables	variable	NOUN
ajfa-8898	66	5	;	;	PUNCT
ajfa-8898	66	6	stock	stock	NOUN
ajfa-8898	66	7	excess	excess	ADJ
ajfa-8898	66	8	returns	return	NOUN
ajfa-8898	66	9	and	and	CCONJ
ajfa-8898	66	10	market	market	NOUN
ajfa-8898	66	11	excess	excess	ADJ
ajfa-8898	66	12	returns	return	NOUN
ajfa-8898	66	13	are	be	AUX
ajfa-8898	66	14	derived	derive	VERB
ajfa-8898	66	15	by	by	ADP
ajfa-8898	66	16	subtracting	subtract	VERB
ajfa-8898	66	17	the	the	DET
ajfa-8898	66	18	91	91	NUM
ajfa-8898	66	19	days	day	NOUN
ajfa-8898	66	20	t	t	NOUN
ajfa-8898	66	21	-	-	PUNCT
ajfa-8898	66	22	bills	bill	NOUN
ajfa-8898	66	23	rates	rate	NOUN
ajfa-8898	66	24	from	from	ADP
ajfa-8898	66	25	individual	individual	ADJ
ajfa-8898	66	26	firmreturns	firmreturn	NOUN
ajfa-8898	66	27	and	and	CCONJ
ajfa-8898	66	28	market	market	NOUN
ajfa-8898	66	29	returns	return	NOUN
ajfa-8898	66	30	series	series	NOUN
ajfa-8898	66	31	.	.	PUNCT
ajfa-8898	67	1	the	the	DET
ajfa-8898	67	2	factors	factor	NOUN
ajfa-8898	67	3	smb	smb	PROPN
ajfa-8898	67	4	,	,	PUNCT
ajfa-8898	67	5	hml	hml	PROPN
ajfa-8898	67	6	are	be	AUX
ajfa-8898	67	7	constructed	construct	VERB
ajfa-8898	67	8	using	use	VERB
ajfa-8898	67	9	fama	fama	NOUN
ajfa-8898	67	10	-	-	PUNCT
ajfa-8898	67	11	french	french	NOUN
ajfa-8898	67	12	(	(	PUNCT
ajfa-8898	67	13	1992	1992	NUM
ajfa-8898	67	14	)	)	PUNCT
ajfa-8898	67	15	methodology	methodology	NOUN
ajfa-8898	67	16	.	.	PUNCT
ajfa-8898	68	1	2.1	2.1	NUM
ajfa-8898	68	2	construction	construction	NOUN
ajfa-8898	68	3	of	of	ADP
ajfa-8898	68	4	fama	fama	NOUN
ajfa-8898	68	5	-	-	PUNCT
ajfa-8898	68	6	french	french	NOUN
ajfa-8898	68	7	(	(	PUNCT
ajfa-8898	68	8	1992	1992	NUM
ajfa-8898	68	9	)	)	PUNCT
ajfa-8898	68	10	factors	factor	VERB
ajfa-8898	68	11	the	the	DET
ajfa-8898	68	12	factors	factor	NOUN
ajfa-8898	68	13	smb	smb	VERB
ajfa-8898	68	14	and	and	CCONJ
ajfa-8898	68	15	hml	hml	PROPN
ajfa-8898	68	16	are	be	AUX
ajfa-8898	68	17	constructed	construct	VERB
ajfa-8898	68	18	from	from	ADP
ajfa-8898	68	19	a	a	DET
ajfa-8898	68	20	two	two	NUM
ajfa-8898	68	21	-	-	PUNCT
ajfa-8898	68	22	by	by	ADP
ajfa-8898	68	23	-	-	PUNCT
ajfa-8898	68	24	three	three	NUM
ajfa-8898	68	25	sort	sort	NOUN
ajfa-8898	68	26	on	on	ADP
ajfa-8898	68	27	size	size	NOUN
ajfa-8898	68	28	and	and	CCONJ
ajfa-8898	68	29	book	book	NOUN
ajfa-8898	68	30	-	-	PUNCT
ajfa-8898	68	31	to	to	ADP
ajfa-8898	68	32	-	-	PUNCT
ajfa-8898	68	33	market	market	NOUN
ajfa-8898	68	34	value	value	NOUN
ajfa-8898	68	35	.	.	PUNCT
ajfa-8898	69	1	at	at	ADP
ajfa-8898	69	2	the	the	DET
ajfa-8898	69	3	end	end	NOUN
ajfa-8898	69	4	of	of	ADP
ajfa-8898	69	5	march	march	NOUN
ajfa-8898	69	6	of	of	ADP
ajfa-8898	69	7	each	each	DET
ajfa-8898	69	8	year	year	NOUN
ajfa-8898	69	9	from	from	ADP
ajfa-8898	69	10	2001	2001	NUM
ajfa-8898	69	11	to	to	ADP
ajfa-8898	69	12	2011	2011	NUM
ajfa-8898	69	13	,	,	PUNCT
ajfa-8898	69	14	all	all	DET
ajfa-8898	69	15	stocks	stock	NOUN
ajfa-8898	69	16	are	be	AUX
ajfa-8898	69	17	ranked	rank	VERB
ajfa-8898	69	18	on	on	ADP
ajfa-8898	69	19	market	market	NOUN
ajfa-8898	69	20	capitalization	capitalization	NOUN
ajfa-8898	69	21	(	(	PUNCT
ajfa-8898	69	22	or	or	CCONJ
ajfa-8898	69	23	size	size	NOUN
ajfa-8898	69	24	)	)	PUNCT
ajfa-8898	69	25	and	and	CCONJ
ajfa-8898	69	26	book	book	NOUN
ajfa-8898	69	27	to	to	ADP
ajfa-8898	69	28	market	market	NOUN
ajfa-8898	69	29	value	value	NOUN
ajfa-8898	69	30	.	.	PUNCT
ajfa-8898	70	1	the	the	DET
ajfa-8898	70	2	median	median	ADJ
ajfa-8898	70	3	value	value	NOUN
ajfa-8898	70	4	of	of	ADP
ajfa-8898	70	5	the	the	DET
ajfa-8898	70	6	size	size	NOUN
ajfa-8898	70	7	is	be	AUX
ajfa-8898	70	8	used	use	VERB
ajfa-8898	70	9	as	as	ADP
ajfa-8898	70	10	a	a	DET
ajfa-8898	70	11	size	size	NOUN
ajfa-8898	70	12	break	break	NOUN
ajfa-8898	70	13	point	point	NOUN
ajfa-8898	70	14	to	to	PART
ajfa-8898	70	15	split	split	VERB
ajfa-8898	70	16	all	all	DET
ajfa-8898	70	17	stocks	stock	NOUN
ajfa-8898	70	18	into	into	ADP
ajfa-8898	70	19	two	two	NUM
ajfa-8898	70	20	groups	group	NOUN
ajfa-8898	70	21	,	,	PUNCT
ajfa-8898	70	22	small	small	ADJ
ajfa-8898	70	23	(	(	PUNCT
ajfa-8898	70	24	s	s	NOUN
ajfa-8898	70	25	)	)	PUNCT
ajfa-8898	70	26	and	and	CCONJ
ajfa-8898	70	27	big	big	ADJ
ajfa-8898	70	28	(	(	PUNCT
ajfa-8898	70	29	b	b	NOUN
ajfa-8898	70	30	)	)	PUNCT
ajfa-8898	70	31	.	.	PUNCT
ajfa-8898	71	1	the	the	DET
ajfa-8898	71	2	stocks	stock	NOUN
ajfa-8898	71	3	shorted	short	VERB
ajfa-8898	71	4	on	on	ADP
ajfa-8898	71	5	book	book	NOUN
ajfa-8898	71	6	to	to	ADP
ajfa-8898	71	7	market	market	NOUN
ajfa-8898	71	8	value	value	NOUN
ajfa-8898	71	9	are	be	AUX
ajfa-8898	71	10	divided	divide	VERB
ajfa-8898	71	11	into	into	ADP
ajfa-8898	71	12	three	three	NUM
ajfa-8898	71	13	book	book	NOUN
ajfa-8898	71	14	-	-	PUNCT
ajfa-8898	71	15	to	to	ADP
ajfa-8898	71	16	-	-	PUNCT
ajfa-8898	71	17	market	market	NOUN
ajfa-8898	71	18	groups	group	NOUN
ajfa-8898	71	19	based	base	VERB
ajfa-8898	71	20	on	on	ADP
ajfa-8898	71	21	the	the	DET
ajfa-8898	71	22	break	break	NOUN
ajfa-8898	71	23	points	point	NOUN
ajfa-8898	71	24	for	for	ADP
ajfa-8898	71	25	the	the	DET
ajfa-8898	71	26	bottom	bottom	ADJ
ajfa-8898	71	27	30	30	NUM
ajfa-8898	71	28	%	%	NOUN
ajfa-8898	71	29	(	(	PUNCT
ajfa-8898	71	30	l	l	NOUN
ajfa-8898	71	31	)	)	PUNCT
ajfa-8898	71	32	,	,	PUNCT
ajfa-8898	71	33	middle	middle	ADJ
ajfa-8898	71	34	40	40	NUM
ajfa-8898	71	35	%	%	NOUN
ajfa-8898	71	36	(	(	PUNCT
ajfa-8898	71	37	m	m	NOUN
ajfa-8898	71	38	)	)	PUNCT
ajfa-8898	71	39	,	,	PUNCT
ajfa-8898	71	40	and	and	CCONJ
ajfa-8898	71	41	top	top	ADJ
ajfa-8898	71	42	30	30	NUM
ajfa-8898	71	43	%	%	NOUN
ajfa-8898	71	44	(	(	PUNCT
ajfa-8898	71	45	h	h	NOUN
ajfa-8898	71	46	)	)	PUNCT
ajfa-8898	71	47	.	.	PUNCT
ajfa-8898	72	1	monthly	monthly	ADJ
ajfa-8898	72	2	equally	equally	ADV
ajfa-8898	72	3	-	-	PUNCT
ajfa-8898	72	4	weighted	weight	VERB
ajfa-8898	72	5	returns	return	NOUN
ajfa-8898	72	6	on	on	ADP
ajfa-8898	72	7	the	the	DET
ajfa-8898	72	8	six	six	NUM
ajfa-8898	72	9	portfolios	portfolio	NOUN
ajfa-8898	72	10	are	be	AUX
ajfa-8898	72	11	calculated	calculate	VERB
ajfa-8898	72	12	from	from	ADP
ajfa-8898	72	13	april	april	PROPN
ajfa-8898	72	14	of	of	ADP
ajfa-8898	72	15	year	year	NOUN
ajfa-8898	72	16	y	y	PROPN
ajfa-8898	72	17	to	to	ADP
ajfa-8898	72	18	march	march	PROPN
ajfa-8898	72	19	of	of	ADP
ajfa-8898	72	20	year	year	NOUN
ajfa-8898	72	21	y+1	y+1	PROPN
ajfa-8898	72	22	.	.	PUNCT
ajfa-8898	73	1	smb	smb	PROPN
ajfa-8898	73	2	is	be	AUX
ajfa-8898	73	3	the	the	DET
ajfa-8898	73	4	difference	difference	NOUN
ajfa-8898	73	5	,	,	PUNCT
ajfa-8898	73	6	each	each	DET
ajfa-8898	73	7	month	month	NOUN
ajfa-8898	73	8	,	,	PUNCT
ajfa-8898	73	9	between	between	ADP
ajfa-8898	73	10	the	the	DET
ajfa-8898	73	11	simple	simple	ADJ
ajfa-8898	73	12	average	average	NOUN
ajfa-8898	73	13	of	of	ADP
ajfa-8898	73	14	the	the	DET
ajfa-8898	73	15	returns	return	NOUN
ajfa-8898	73	16	on	on	ADP
ajfa-8898	73	17	the	the	DET
ajfa-8898	73	18	three	three	NUM
ajfa-8898	73	19	small	small	ADJ
ajfa-8898	73	20	portfolios	portfolio	NOUN
ajfa-8898	73	21	(	(	PUNCT
ajfa-8898	73	22	s	s	X
ajfa-8898	73	23	/	/	SYM
ajfa-8898	73	24	l	l	NOUN
ajfa-8898	73	25	,	,	PUNCT
ajfa-8898	73	26	s	s	X
ajfa-8898	73	27	/	/	SYM
ajfa-8898	73	28	m	m	PROPN
ajfa-8898	73	29	,	,	PUNCT
ajfa-8898	73	30	and	and	CCONJ
ajfa-8898	73	31	s	s	NOUN
ajfa-8898	73	32	/	/	SYM
ajfa-8898	73	33	h	h	NOUN
ajfa-8898	73	34	)	)	PUNCT
ajfa-8898	73	35	and	and	CCONJ
ajfa-8898	73	36	the	the	DET
ajfa-8898	73	37	simple	simple	ADJ
ajfa-8898	73	38	average	average	NOUN
ajfa-8898	73	39	of	of	ADP
ajfa-8898	73	40	the	the	DET
ajfa-8898	73	41	returns	return	NOUN
ajfa-8898	73	42	on	on	ADP
ajfa-8898	73	43	the	the	DET
ajfa-8898	73	44	three	three	NUM
ajfa-8898	73	45	big	big	ADJ
ajfa-8898	73	46	stocks	stock	NOUN
ajfa-8898	73	47	(	(	PUNCT
ajfa-8898	73	48	b	b	X
ajfa-8898	73	49	/	/	SYM
ajfa-8898	73	50	l	l	NOUN
ajfa-8898	73	51	,	,	PUNCT
ajfa-8898	73	52	b	b	X
ajfa-8898	73	53	/	/	SYM
ajfa-8898	73	54	m	m	PROPN
ajfa-8898	73	55	,	,	PUNCT
ajfa-8898	73	56	and	and	CCONJ
ajfa-8898	73	57	b	b	X
ajfa-8898	73	58	/	/	SYM
ajfa-8898	73	59	h	h	NOUN
ajfa-8898	73	60	)	)	PUNCT
ajfa-8898	73	61	.	.	PUNCT
ajfa-8898	74	1	hml	hml	PROPN
ajfa-8898	74	2	is	be	AUX
ajfa-8898	74	3	the	the	DET
ajfa-8898	74	4	difference	difference	NOUN
ajfa-8898	74	5	,	,	PUNCT
ajfa-8898	74	6	each	each	DET
ajfa-8898	74	7	month	month	NOUN
ajfa-8898	74	8	,	,	PUNCT
ajfa-8898	74	9	between	between	ADP
ajfa-8898	74	10	the	the	DET
ajfa-8898	74	11	simple	simple	ADJ
ajfa-8898	74	12	average	average	NOUN
ajfa-8898	74	13	of	of	ADP
ajfa-8898	74	14	the	the	DET
ajfa-8898	74	15	returns	return	NOUN
ajfa-8898	74	16	on	on	ADP
ajfa-8898	74	17	the	the	DET
ajfa-8898	74	18	two	two	NUM
ajfa-8898	74	19	high	high	ADJ
ajfa-8898	74	20	book	book	NOUN
ajfa-8898	74	21	to	to	ADP
ajfa-8898	74	22	market	market	NOUN
ajfa-8898	74	23	portfolios	portfolio	NOUN
ajfa-8898	74	24	(	(	PUNCT
ajfa-8898	74	25	s	s	NOUN
ajfa-8898	74	26	/	/	SYM
ajfa-8898	74	27	h	h	PROPN
ajfa-8898	74	28	and	and	CCONJ
ajfa-8898	74	29	b	b	X
ajfa-8898	74	30	/	/	SYM
ajfa-8898	74	31	h	h	NOUN
ajfa-8898	74	32	)	)	PUNCT
ajfa-8898	74	33	and	and	CCONJ
ajfa-8898	74	34	the	the	DET
ajfa-8898	74	35	simple	simple	ADJ
ajfa-8898	74	36	average	average	NOUN
ajfa-8898	74	37	of	of	ADP
ajfa-8898	74	38	the	the	DET
ajfa-8898	74	39	returns	return	NOUN
ajfa-8898	74	40	on	on	ADP
ajfa-8898	74	41	the	the	DET
ajfa-8898	74	42	two	two	NUM
ajfa-8898	74	43	low	low	ADJ
ajfa-8898	74	44	book	book	NOUN
ajfa-8898	74	45	to	to	ADP
ajfa-8898	74	46	market	market	NOUN
ajfa-8898	74	47	portfolios	portfolio	NOUN
ajfa-8898	74	48	(	(	PUNCT
ajfa-8898	74	49	s	s	NOUN
ajfa-8898	74	50	/	/	SYM
ajfa-8898	74	51	l	l	NOUN
ajfa-8898	74	52	and	and	CCONJ
ajfa-8898	74	53	b	b	X
ajfa-8898	74	54	/	/	SYM
ajfa-8898	74	55	l	l	NOUN
ajfa-8898	74	56	)	)	PUNCT
ajfa-8898	74	57	.	.	PUNCT
ajfa-8898	75	1	2.2	2.2	NUM
ajfa-8898	75	2	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	75	3	volatility	volatility	NOUN
ajfa-8898	75	4	:	:	PUNCT
ajfa-8898	75	5	definition	definition	NOUN
ajfa-8898	75	6	and	and	CCONJ
ajfa-8898	75	7	estimation	estimation	NOUN
ajfa-8898	75	8	to	to	PART
ajfa-8898	75	9	estimate	estimate	VERB
ajfa-8898	75	10	the	the	DET
ajfa-8898	75	11	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	75	12	volatility	volatility	NOUN
ajfa-8898	75	13	,	,	PUNCT
ajfa-8898	75	14	fama	fama	NOUN
ajfa-8898	75	15	-	-	PUNCT
ajfa-8898	75	16	french	french	NOUN
ajfa-8898	75	17	(	(	PUNCT
ajfa-8898	75	18	1993	1993	NUM
ajfa-8898	75	19	)	)	PUNCT
ajfa-8898	75	20	regression	regression	NOUN
ajfa-8898	75	21	is	be	AUX
ajfa-8898	75	22	conducted	conduct	VERB
ajfa-8898	75	23	using	use	VERB
ajfa-8898	75	24	the	the	DET
ajfa-8898	75	25	monthly	monthly	ADJ
ajfa-8898	75	26	returns	return	NOUN
ajfa-8898	75	27	of	of	ADP
ajfa-8898	75	28	all	all	DET
ajfa-8898	75	29	stocks	stock	NOUN
ajfa-8898	75	30	.	.	PUNCT
ajfa-8898	76	1	tititititititititi	tititititititititi	PROPN
ajfa-8898	76	2	hmlsmbrmr	hmlsmbrmr	PROPN
ajfa-8898	76	3	,	,	PUNCT
ajfa-8898	76	4	,	,	PUNCT
ajfa-8898	76	5	3,,2	3,,2	NUM
ajfa-8898	76	6	,	,	PUNCT
ajfa-8898	76	7	,	,	PUNCT
ajfa-8898	76	8	,	,	PUNCT
ajfa-8898	76	9	,	,	PUNCT
ajfa-8898	76	10	,	,	PUNCT
ajfa-8898	76	11	εβββα	εβββα	VERB
ajfa-8898	76	12	+	+	PROPN
ajfa-8898	76	13	+	+	ADJ
ajfa-8898	76	14	+	+	ADJ
ajfa-8898	76	15	+	+	NOUN
ajfa-8898	76	16	=	=	X
ajfa-8898	76	17	(	(	PUNCT
ajfa-8898	76	18	1	1	NUM
ajfa-8898	76	19	)	)	PUNCT
ajfa-8898	76	20	asian	asian	ADJ
ajfa-8898	76	21	journal	journal	NOUN
ajfa-8898	76	22	of	of	ADP
ajfa-8898	76	23	finance	finance	PROPN
ajfa-8898	76	24	&	&	CCONJ
ajfa-8898	76	25	accounting	accounting	PROPN
ajfa-8898	76	26	issn	issn	PROPN
ajfa-8898	76	27	1946	1946	NUM
ajfa-8898	76	28	-	-	PUNCT
ajfa-8898	76	29	052x	052x	PROPN
ajfa-8898	76	30	2016	2016	NUM
ajfa-8898	76	31	,	,	PUNCT
ajfa-8898	76	32	vol	vol	NOUN
ajfa-8898	76	33	.	.	PROPN
ajfa-8898	76	34	8	8	NUM
ajfa-8898	76	35	,	,	PUNCT
ajfa-8898	76	36	no	no	INTJ
ajfa-8898	76	37	.	.	NOUN
ajfa-8898	76	38	1	1	NUM
ajfa-8898	76	39	ajfa.macrothink.org	ajfa.macrothink.org	NOUN
ajfa-8898	76	40	5	5	NUM
ajfa-8898	76	41	where	where	SCONJ
ajfa-8898	76	42	tir	tir	PROPN
ajfa-8898	76	43	,	,	PUNCT
ajfa-8898	76	44	represents	represent	VERB
ajfa-8898	76	45	the	the	DET
ajfa-8898	76	46	monthly	monthly	ADJ
ajfa-8898	76	47	excess	excess	ADJ
ajfa-8898	76	48	returns	return	NOUN
ajfa-8898	76	49	on	on	ADP
ajfa-8898	76	50	stock	stock	NOUN
ajfa-8898	76	51	i	i	PRON
ajfa-8898	76	52	on	on	ADP
ajfa-8898	76	53	month	month	NOUN
ajfa-8898	76	54	t.	t.	PROPN
ajfa-8898	76	55	similarly	similarly	ADV
ajfa-8898	76	56	tirm	tirm	ADJ
ajfa-8898	76	57	,	,	PUNCT
ajfa-8898	76	58	represents	represent	VERB
ajfa-8898	76	59	the	the	DET
ajfa-8898	76	60	monthly	monthly	ADJ
ajfa-8898	76	61	excess	excess	ADJ
ajfa-8898	76	62	returns	return	NOUN
ajfa-8898	76	63	of	of	ADP
ajfa-8898	76	64	bse	bse	NOUN
ajfa-8898	76	65	500	500	NUM
ajfa-8898	76	66	index	index	NOUN
ajfa-8898	76	67	,	,	PUNCT
ajfa-8898	76	68	tismb	tismb	NOUN
ajfa-8898	76	69	,	,	PUNCT
ajfa-8898	76	70	is	be	AUX
ajfa-8898	76	71	the	the	DET
ajfa-8898	76	72	return	return	NOUN
ajfa-8898	76	73	difference	difference	NOUN
ajfa-8898	76	74	on	on	ADP
ajfa-8898	76	75	size	size	NOUN
ajfa-8898	76	76	factor	factor	NOUN
ajfa-8898	76	77	and	and	CCONJ
ajfa-8898	76	78	tihml	tihml	PROPN
ajfa-8898	76	79	,	,	PUNCT
ajfa-8898	76	80	is	be	AUX
ajfa-8898	76	81	the	the	DET
ajfa-8898	76	82	return	return	NOUN
ajfa-8898	76	83	difference	difference	NOUN
ajfa-8898	76	84	on	on	ADP
ajfa-8898	76	85	value	value	NOUN
ajfa-8898	76	86	factor	factor	NOUN
ajfa-8898	76	87	.	.	PUNCT
ajfa-8898	77	1	ti	ti	PROPN
ajfa-8898	77	2	,	,	PUNCT
ajfa-8898	77	3	α	α	PROPN
ajfa-8898	77	4	is	be	AUX
ajfa-8898	77	5	coefficient	coefficient	NOUN
ajfa-8898	77	6	and	and	CCONJ
ajfa-8898	77	7	ti	ti	PROPN
ajfa-8898	77	8	,	,	PUNCT
ajfa-8898	77	9	β	β	X
ajfa-8898	77	10	are	be	AUX
ajfa-8898	77	11	parameters	parameter	NOUN
ajfa-8898	77	12	for	for	ADP
ajfa-8898	77	13	each	each	DET
ajfa-8898	77	14	factors	factor	NOUN
ajfa-8898	77	15	.	.	PUNCT
ajfa-8898	78	1	following	follow	VERB
ajfa-8898	78	2	the	the	DET
ajfa-8898	78	3	anget	anget	NOUN
ajfa-8898	78	4	.	.	PUNCT
ajfa-8898	79	1	al	al	PROPN
ajfa-8898	79	2	.	.	PROPN
ajfa-8898	79	3	,	,	PUNCT
ajfa-8898	79	4	(	(	PUNCT
ajfa-8898	79	5	2006	2006	NUM
ajfa-8898	79	6	)	)	PUNCT
ajfa-8898	79	7	and	and	CCONJ
ajfa-8898	79	8	chua	chua	PROPN
ajfa-8898	79	9	et	et	PROPN
ajfa-8898	79	10	.	.	PUNCT
ajfa-8898	80	1	al	al	PROPN
ajfa-8898	80	2	.	.	PROPN
ajfa-8898	80	3	,	,	PUNCT
ajfa-8898	80	4	(	(	PUNCT
ajfa-8898	80	5	2010	2010	NUM
ajfa-8898	80	6	)	)	PUNCT
ajfa-8898	80	7	methodology	methodology	NOUN
ajfa-8898	80	8	,	,	PUNCT
ajfa-8898	80	9	the	the	DET
ajfa-8898	80	10	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	80	11	volatility	volatility	NOUN
ajfa-8898	80	12	of	of	ADP
ajfa-8898	80	13	stock	stock	NOUN
ajfa-8898	80	14	i	i	PRON
ajfa-8898	80	15	in	in	ADP
ajfa-8898	80	16	month	month	NOUN
ajfa-8898	80	17	t	t	PROPN
ajfa-8898	80	18	is	be	AUX
ajfa-8898	80	19	defined	define	VERB
ajfa-8898	80	20	as	as	ADP
ajfa-8898	80	21	;	;	PUNCT
ajfa-8898	80	22	=	=	PROPN
ajfa-8898	80	23	titiiv	titiiv	NOUN
ajfa-8898	80	24	,	,	PUNCT
ajfa-8898	80	25	,	,	PUNCT
ajfa-8898	80	26	2ε	2ε	PROPN
ajfa-8898	80	27	(	(	PUNCT
ajfa-8898	80	28	2	2	NUM
ajfa-8898	80	29	)	)	PUNCT
ajfa-8898	80	30	where	where	SCONJ
ajfa-8898	80	31	tiiv	tiiv	NOUN
ajfa-8898	80	32	,	,	PUNCT
ajfa-8898	80	33	is	be	AUX
ajfa-8898	80	34	the	the	DET
ajfa-8898	80	35	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	80	36	volatility	volatility	NOUN
ajfa-8898	80	37	measure	measure	NOUN
ajfa-8898	80	38	for	for	ADP
ajfa-8898	80	39	firm	firm	ADJ
ajfa-8898	80	40	i	i	PRON
ajfa-8898	80	41	in	in	ADP
ajfa-8898	80	42	month	month	PROPN
ajfa-8898	80	43	t	t	PROPN
ajfa-8898	80	44	which	which	PRON
ajfa-8898	80	45	is	be	AUX
ajfa-8898	80	46	the	the	DET
ajfa-8898	80	47	square	square	NOUN
ajfa-8898	80	48	of	of	ADP
ajfa-8898	80	49	the	the	DET
ajfa-8898	80	50	fama	fama	NOUN
ajfa-8898	80	51	-	-	PUNCT
ajfa-8898	80	52	french	french	ADJ
ajfa-8898	80	53	regression	regression	NOUN
ajfa-8898	80	54	residuals	residual	NOUN
ajfa-8898	80	55	(	(	PUNCT
ajfa-8898	80	56	ti	ti	X
ajfa-8898	80	57	,	,	PUNCT
ajfa-8898	80	58	2ε	2ε	PROPN
ajfa-8898	80	59	)	)	PUNCT
ajfa-8898	80	60	.	.	PUNCT
ajfa-8898	81	1	to	to	PART
ajfa-8898	81	2	decompose	decompose	VERB
ajfa-8898	81	3	the	the	DET
ajfa-8898	81	4	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	81	5	volatility	volatility	NOUN
ajfa-8898	81	6	into	into	ADP
ajfa-8898	81	7	expected	expect	VERB
ajfa-8898	81	8	and	and	CCONJ
ajfa-8898	81	9	unexpected	unexpected	ADJ
ajfa-8898	81	10	components	component	NOUN
ajfa-8898	81	11	,	,	PUNCT
ajfa-8898	81	12	arma	arma	PROPN
ajfa-8898	81	13	(	(	PUNCT
ajfa-8898	81	14	2	2	NUM
ajfa-8898	81	15	,	,	PUNCT
ajfa-8898	81	16	1	1	X
ajfa-8898	81	17	)	)	PUNCT
ajfa-8898	81	18	model	model	NOUN
ajfa-8898	81	19	is	be	AUX
ajfa-8898	81	20	used	use	VERB
ajfa-8898	81	21	.	.	PUNCT
ajfa-8898	82	1	for	for	ADP
ajfa-8898	82	2	each	each	DET
ajfa-8898	82	3	stock	stock	NOUN
ajfa-8898	82	4	,	,	PUNCT
ajfa-8898	82	5	using	use	VERB
ajfa-8898	82	6	monthly	monthly	ADJ
ajfa-8898	82	7	data	datum	NOUN
ajfa-8898	82	8	,	,	PUNCT
ajfa-8898	82	9	the	the	DET
ajfa-8898	82	10	following	following	ADJ
ajfa-8898	82	11	time	time	NOUN
ajfa-8898	82	12	series	series	PROPN
ajfa-8898	82	13	regression	regression	PROPN
ajfa-8898	82	14	is	be	AUX
ajfa-8898	82	15	performed	perform	VERB
ajfa-8898	82	16	;	;	PUNCT
ajfa-8898	83	1	112,21,10	112,21,10	NUM
ajfa-8898	83	2	,	,	PUNCT
ajfa-8898	83	3	−−−	−−−	AUX
ajfa-8898	83	4	−++=	−++=	PUNCT
ajfa-8898	83	5	ttititi	ttititi	INTJ
ajfa-8898	83	6	iviviv	iviviv	NOUN
ajfa-8898	83	7	ξφθθθ	ξφθθθ	NOUN
ajfa-8898	83	8	(	(	PUNCT
ajfa-8898	83	9	3	3	X
ajfa-8898	83	10	)	)	PUNCT
ajfa-8898	83	11	here	here	ADV
ajfa-8898	83	12	1	1	NUM
ajfa-8898	83	13	,	,	PUNCT
ajfa-8898	83	14	−tiiv	−tiiv	NOUN
ajfa-8898	83	15	and	and	CCONJ
ajfa-8898	83	16	2	2	NUM
ajfa-8898	83	17	,	,	PUNCT
ajfa-8898	83	18	−tiiv	−tiiv	NOUN
ajfa-8898	83	19	are	be	AUX
ajfa-8898	83	20	the	the	DET
ajfa-8898	83	21	lagged	lag	VERB
ajfa-8898	83	22	auto	auto	NOUN
ajfa-8898	83	23	-	-	PUNCT
ajfa-8898	83	24	regressive	regressive	ADJ
ajfa-8898	83	25	terms	term	NOUN
ajfa-8898	83	26	of	of	ADP
ajfa-8898	83	27	order	order	NOUN
ajfa-8898	83	28	one	one	NUM
ajfa-8898	83	29	and	and	CCONJ
ajfa-8898	83	30	order	order	VERB
ajfa-8898	83	31	two	two	NUM
ajfa-8898	83	32	and	and	CCONJ
ajfa-8898	83	33	1−tξ	1−tξ	NUM
ajfa-8898	83	34	is	be	AUX
ajfa-8898	83	35	moving	move	VERB
ajfa-8898	83	36	average	average	ADJ
ajfa-8898	83	37	terms	term	NOUN
ajfa-8898	83	38	of	of	ADP
ajfa-8898	83	39	first	first	ADJ
ajfa-8898	83	40	order	order	NOUN
ajfa-8898	83	41	.	.	PUNCT
ajfa-8898	84	1	following	follow	VERB
ajfa-8898	84	2	chua	chua	PROPN
ajfa-8898	84	3	et	et	PROPN
ajfa-8898	84	4	.	.	PUNCT
ajfa-8898	85	1	al	al	PROPN
ajfa-8898	85	2	.	.	PROPN
ajfa-8898	85	3	,	,	PUNCT
ajfa-8898	85	4	(	(	PUNCT
ajfa-8898	85	5	2010	2010	NUM
ajfa-8898	85	6	)	)	PUNCT
ajfa-8898	85	7	,	,	PUNCT
ajfa-8898	85	8	the	the	DET
ajfa-8898	85	9	fitted	fit	VERB
ajfa-8898	85	10	values	value	NOUN
ajfa-8898	85	11	of	of	ADP
ajfa-8898	85	12	regression	regression	NOUN
ajfa-8898	85	13	equation	equation	NOUN
ajfa-8898	85	14	3	3	NUM
ajfa-8898	85	15	are	be	AUX
ajfa-8898	85	16	defined	define	VERB
ajfa-8898	85	17	as	as	ADP
ajfa-8898	85	18	ei	ei	NOUN
ajfa-8898	85	19	and	and	CCONJ
ajfa-8898	85	20	the	the	DET
ajfa-8898	85	21	residuals	residual	NOUN
ajfa-8898	85	22	are	be	AUX
ajfa-8898	85	23	termed	term	VERB
ajfa-8898	85	24	as	as	ADP
ajfa-8898	85	25	ui	ui	PROPN
ajfa-8898	85	26	.	.	PROPN
ajfa-8898	85	27	2.3	2.3	NUM
ajfa-8898	85	28	descriptive	descriptive	ADJ
ajfa-8898	85	29	statistics	statistic	NOUN
ajfa-8898	85	30	table	table	NOUN
ajfa-8898	85	31	1	1	NUM
ajfa-8898	85	32	.	.	PUNCT
ajfa-8898	86	1	descriptive	descriptive	ADJ
ajfa-8898	86	2	statistics	statistic	NOUN
ajfa-8898	86	3	iv	iv	X
ajfa-8898	86	4	ei	ei	AUX
ajfa-8898	86	5	ui	ui	NOUN
ajfa-8898	86	6	mean	mean	VERB
ajfa-8898	86	7	0.035769	0.035769	NUM
ajfa-8898	86	8	0.033425	0.033425	NUM
ajfa-8898	86	9	0.002344	0.002344	NUM
ajfa-8898	86	10	median	median	NOUN
ajfa-8898	86	11	0.018008	0.018008	NUM
ajfa-8898	86	12	0.01773	0.01773	NUM
ajfa-8898	86	13	0.000004	0.000004	NUM
ajfa-8898	86	14	std	std	NOUN
ajfa-8898	86	15	.	.	PUNCT
ajfa-8898	86	16	dev	dev	PROPN
ajfa-8898	86	17	.	.	PROPN
ajfa-8898	87	1	0.119635	0.119635	NUM
ajfa-8898	87	2	0.104803	0.104803	NUM
ajfa-8898	87	3	0.029507	0.029507	NUM
ajfa-8898	87	4	skewness	skewness	NOUN
ajfa-8898	87	5	11.0647	11.0647	NUM
ajfa-8898	87	6	12.29724	12.29724	NUM
ajfa-8898	87	7	16.24822	16.24822	NUM
ajfa-8898	87	8	kurtosis	kurtosis	NOUN
ajfa-8898	87	9	129.1697	129.1697	NUM
ajfa-8898	87	10	167.6131	167.6131	NUM
ajfa-8898	87	11	266.9859	266.9859	NUM
ajfa-8898	87	12	note	note	NOUN
ajfa-8898	87	13	:	:	PUNCT
ajfa-8898	87	14	the	the	DET
ajfa-8898	87	15	sample	sample	NOUN
ajfa-8898	87	16	is	be	AUX
ajfa-8898	87	17	from	from	ADP
ajfa-8898	87	18	june	june	PROPN
ajfa-8898	87	19	2001	2001	NUM
ajfa-8898	87	20	to	to	ADP
ajfa-8898	87	21	march	march	PROPN
ajfa-8898	87	22	2012	2012	NUM
ajfa-8898	87	23	.	.	PUNCT
ajfa-8898	88	1	at	at	ADP
ajfa-8898	88	2	every	every	DET
ajfa-8898	88	3	month	month	NOUN
ajfa-8898	88	4	,	,	PUNCT
ajfa-8898	88	5	for	for	ADP
ajfa-8898	88	6	each	each	DET
ajfa-8898	88	7	firm	firm	NOUN
ajfa-8898	88	8	,	,	PUNCT
ajfa-8898	88	9	the	the	DET
ajfa-8898	88	10	iv	iv	X
ajfa-8898	88	11	(	(	PUNCT
ajfa-8898	88	12	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	88	13	volatility	volatility	NOUN
ajfa-8898	88	14	)	)	PUNCT
ajfa-8898	88	15	is	be	AUX
ajfa-8898	88	16	calculated	calculate	VERB
ajfa-8898	88	17	by	by	ADP
ajfa-8898	88	18	following	follow	VERB
ajfa-8898	88	19	equation	equation	NOUN
ajfa-8898	88	20	2	2	NUM
ajfa-8898	88	21	and	and	CCONJ
ajfa-8898	88	22	ei	ei	X
ajfa-8898	88	23	(	(	PUNCT
ajfa-8898	88	24	expected	expect	VERB
ajfa-8898	88	25	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	88	26	asian	asian	ADJ
ajfa-8898	88	27	journal	journal	NOUN
ajfa-8898	88	28	of	of	ADP
ajfa-8898	88	29	finance	finance	PROPN
ajfa-8898	88	30	&	&	CCONJ
ajfa-8898	88	31	accounting	accounting	PROPN
ajfa-8898	88	32	issn	issn	PROPN
ajfa-8898	88	33	1946	1946	NUM
ajfa-8898	88	34	-	-	PUNCT
ajfa-8898	88	35	052x	052x	PROPN
ajfa-8898	88	36	2016	2016	NUM
ajfa-8898	88	37	,	,	PUNCT
ajfa-8898	88	38	vol	vol	NOUN
ajfa-8898	88	39	.	.	PROPN
ajfa-8898	88	40	8	8	NUM
ajfa-8898	88	41	,	,	PUNCT
ajfa-8898	88	42	no	no	INTJ
ajfa-8898	88	43	.	.	NOUN
ajfa-8898	88	44	1	1	NUM
ajfa-8898	88	45	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	88	46	6	6	NUM
ajfa-8898	88	47	volatility	volatility	NOUN
ajfa-8898	88	48	)	)	PUNCT
ajfa-8898	88	49	and	and	CCONJ
ajfa-8898	88	50	ui	ui	NOUN
ajfa-8898	88	51	(	(	PUNCT
ajfa-8898	88	52	unexpected	unexpected	ADJ
ajfa-8898	88	53	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	88	54	volatility	volatility	NOUN
ajfa-8898	88	55	)	)	PUNCT
ajfa-8898	88	56	are	be	AUX
ajfa-8898	88	57	estimated	estimate	VERB
ajfa-8898	88	58	using	use	VERB
ajfa-8898	88	59	equation	equation	NOUN
ajfa-8898	88	60	3	3	NUM
ajfa-8898	88	61	.	.	PUNCT
ajfa-8898	89	1	in	in	ADP
ajfa-8898	89	2	order	order	NOUN
ajfa-8898	89	3	to	to	PART
ajfa-8898	89	4	provide	provide	VERB
ajfa-8898	89	5	point	point	NOUN
ajfa-8898	89	6	estimate	estimate	NOUN
ajfa-8898	89	7	,	,	PUNCT
ajfa-8898	89	8	the	the	DET
ajfa-8898	89	9	cross	cross	ADJ
ajfa-8898	89	10	-	-	ADJ
ajfa-8898	89	11	sectional	sectional	ADJ
ajfa-8898	89	12	averages	average	NOUN
ajfa-8898	89	13	of	of	ADP
ajfa-8898	89	14	iv	iv	NUM
ajfa-8898	89	15	,	,	PUNCT
ajfa-8898	89	16	ei	ei	NOUN
ajfa-8898	89	17	and	and	CCONJ
ajfa-8898	89	18	ui	ui	PROPN
ajfa-8898	89	19	are	be	AUX
ajfa-8898	89	20	reported	report	VERB
ajfa-8898	89	21	.	.	PUNCT
ajfa-8898	90	1	table	table	NOUN
ajfa-8898	90	2	1	1	NUM
ajfa-8898	90	3	reports	report	VERB
ajfa-8898	90	4	the	the	DET
ajfa-8898	90	5	summary	summary	NOUN
ajfa-8898	90	6	statistics	statistic	NOUN
ajfa-8898	90	7	;	;	PUNCT
ajfa-8898	90	8	mean	mean	ADJ
ajfa-8898	90	9	,	,	PUNCT
ajfa-8898	90	10	median	median	ADJ
ajfa-8898	90	11	,	,	PUNCT
ajfa-8898	90	12	standard	standard	ADJ
ajfa-8898	90	13	deviation	deviation	NOUN
ajfa-8898	90	14	,	,	PUNCT
ajfa-8898	90	15	skewness	skewness	NOUN
ajfa-8898	90	16	and	and	CCONJ
ajfa-8898	90	17	kurtosis	kurtosis	NOUN
ajfa-8898	90	18	of	of	ADP
ajfa-8898	90	19	the	the	DET
ajfa-8898	90	20	cross	cross	ADJ
ajfa-8898	90	21	-	-	ADJ
ajfa-8898	90	22	sectional	sectional	ADJ
ajfa-8898	90	23	series	series	NOUN
ajfa-8898	90	24	of	of	ADP
ajfa-8898	90	25	iv	iv	ADP
ajfa-8898	90	26	,	,	PUNCT
ajfa-8898	90	27	ei	ei	NOUN
ajfa-8898	90	28	and	and	CCONJ
ajfa-8898	90	29	ui	ui	PROPN
ajfa-8898	90	30	.	.	PUNCT
ajfa-8898	91	1	the	the	DET
ajfa-8898	91	2	cross	cross	ADJ
ajfa-8898	91	3	-	-	ADJ
ajfa-8898	91	4	sectional	sectional	ADJ
ajfa-8898	91	5	mean	mean	NOUN
ajfa-8898	91	6	of	of	ADP
ajfa-8898	91	7	iv	iv	NUM
ajfa-8898	91	8	in	in	ADP
ajfa-8898	91	9	indian	indian	ADJ
ajfa-8898	91	10	stock	stock	NOUN
ajfa-8898	91	11	market	market	NOUN
ajfa-8898	91	12	is	be	AUX
ajfa-8898	91	13	0.036	0.036	NUM
ajfa-8898	91	14	and	and	CCONJ
ajfa-8898	91	15	the	the	DET
ajfa-8898	91	16	standard	standard	ADJ
ajfa-8898	91	17	deviation	deviation	NOUN
ajfa-8898	91	18	is	be	AUX
ajfa-8898	91	19	0.12	0.12	NUM
ajfa-8898	91	20	.	.	PUNCT
ajfa-8898	92	1	the	the	DET
ajfa-8898	92	2	mean	mean	ADJ
ajfa-8898	92	3	iv	iv	NOUN
ajfa-8898	92	4	of	of	ADP
ajfa-8898	92	5	indian	indian	ADJ
ajfa-8898	92	6	market	market	NOUN
ajfa-8898	92	7	is	be	AUX
ajfa-8898	92	8	higher	high	ADJ
ajfa-8898	92	9	than	than	ADP
ajfa-8898	92	10	those	those	PRON
ajfa-8898	92	11	reported	report	VERB
ajfa-8898	92	12	for	for	ADP
ajfa-8898	92	13	us	we	PRON
ajfa-8898	92	14	context	context	NOUN
ajfa-8898	92	15	;	;	PUNCT
ajfa-8898	92	16	while	while	SCONJ
ajfa-8898	92	17	standard	standard	ADJ
ajfa-8898	92	18	deviation	deviation	NOUN
ajfa-8898	92	19	is	be	AUX
ajfa-8898	92	20	lower	low	ADJ
ajfa-8898	92	21	(	(	PUNCT
ajfa-8898	92	22	see	see	VERB
ajfa-8898	92	23	chua	chua	PROPN
ajfa-8898	92	24	et	et	PROPN
ajfa-8898	92	25	.	.	PUNCT
ajfa-8898	93	1	al	al	PROPN
ajfa-8898	93	2	.	.	PROPN
ajfa-8898	93	3	,	,	PUNCT
ajfa-8898	93	4	2010	2010	NUM
ajfa-8898	93	5	,	,	PUNCT
ajfa-8898	93	6	zang	zang	PROPN
ajfa-8898	93	7	2004	2004	NUM
ajfa-8898	93	8	)	)	PUNCT
ajfa-8898	93	9	;	;	PUNCT
ajfa-8898	93	10	indicating	indicate	VERB
ajfa-8898	93	11	that	that	SCONJ
ajfa-8898	93	12	iv	iv	NUM
ajfa-8898	93	13	is	be	AUX
ajfa-8898	93	14	less	less	ADV
ajfa-8898	93	15	volatile	volatile	ADJ
ajfa-8898	93	16	in	in	ADP
ajfa-8898	93	17	indian	indian	ADJ
ajfa-8898	93	18	context	context	NOUN
ajfa-8898	93	19	.	.	PUNCT
ajfa-8898	94	1	the	the	DET
ajfa-8898	94	2	mean	mean	NOUN
ajfa-8898	94	3	of	of	ADP
ajfa-8898	94	4	ei	ei	NOUN
ajfa-8898	94	5	is	be	AUX
ajfa-8898	94	6	0.032	0.032	NUM
ajfa-8898	94	7	which	which	PRON
ajfa-8898	94	8	is	be	AUX
ajfa-8898	94	9	near	near	ADJ
ajfa-8898	94	10	to	to	ADP
ajfa-8898	94	11	iv	iv	NUM
ajfa-8898	94	12	mean	mean	VERB
ajfa-8898	95	1	but	but	CCONJ
ajfa-8898	95	2	ei	ei	NOUN
ajfa-8898	95	3	is	be	AUX
ajfa-8898	95	4	less	less	ADV
ajfa-8898	95	5	volatile	volatile	ADJ
ajfa-8898	95	6	than	than	ADP
ajfa-8898	95	7	iv	iv	NOUN
ajfa-8898	95	8	since	since	SCONJ
ajfa-8898	95	9	its	its	PRON
ajfa-8898	95	10	standard	standard	ADJ
ajfa-8898	95	11	deviation	deviation	NOUN
ajfa-8898	95	12	0.1048	0.1048	NUM
ajfa-8898	95	13	.	.	PUNCT
ajfa-8898	96	1	ui	ui	PROPN
ajfa-8898	96	2	is	be	AUX
ajfa-8898	96	3	having	have	VERB
ajfa-8898	96	4	very	very	ADV
ajfa-8898	96	5	low	low	ADJ
ajfa-8898	96	6	mean	mean	ADJ
ajfa-8898	96	7	value	value	NOUN
ajfa-8898	96	8	of	of	ADP
ajfa-8898	96	9	0.0023	0.0023	NUM
ajfa-8898	96	10	with	with	ADP
ajfa-8898	96	11	standard	standard	ADJ
ajfa-8898	96	12	deviation	deviation	NOUN
ajfa-8898	96	13	of	of	ADP
ajfa-8898	96	14	0.03	0.03	NUM
ajfa-8898	96	15	,	,	PUNCT
ajfa-8898	96	16	showing	show	VERB
ajfa-8898	96	17	less	less	ADV
ajfa-8898	96	18	volatile	volatile	ADJ
ajfa-8898	96	19	behavior	behavior	NOUN
ajfa-8898	96	20	.	.	PUNCT
ajfa-8898	97	1	3	3	X
ajfa-8898	97	2	.	.	NOUN
ajfa-8898	97	3	results	result	NOUN
ajfa-8898	97	4	and	and	CCONJ
ajfa-8898	97	5	discussions	discussion	NOUN
ajfa-8898	97	6	3.1	3.1	NUM
ajfa-8898	97	7	cross	cross	ADJ
ajfa-8898	97	8	-	-	ADJ
ajfa-8898	97	9	sectional	sectional	ADJ
ajfa-8898	97	10	regression	regression	NOUN
ajfa-8898	97	11	of	of	ADP
ajfa-8898	97	12	returns	return	NOUN
ajfa-8898	97	13	on	on	ADP
ajfa-8898	97	14	iv	iv	NUM
ajfa-8898	97	15	following	follow	VERB
ajfa-8898	97	16	regression	regression	NOUN
ajfa-8898	97	17	is	be	AUX
ajfa-8898	97	18	performed	perform	VERB
ajfa-8898	97	19	to	to	PART
ajfa-8898	97	20	investigate	investigate	VERB
ajfa-8898	97	21	the	the	DET
ajfa-8898	97	22	relationship	relationship	NOUN
ajfa-8898	97	23	between	between	ADP
ajfa-8898	97	24	cross	cross	NOUN
ajfa-8898	97	25	-	-	NOUN
ajfa-8898	97	26	section	section	NOUN
ajfa-8898	97	27	of	of	ADP
ajfa-8898	97	28	stock	stock	NOUN
ajfa-8898	97	29	returns	return	NOUN
ajfa-8898	97	30	and	and	CCONJ
ajfa-8898	97	31	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	97	32	volatility	volatility	NOUN
ajfa-8898	97	33	.	.	PUNCT
ajfa-8898	98	1	tititi	tititi	PROPN
ajfa-8898	98	2	ivr	ivr	PROPN
ajfa-8898	98	3	,	,	PUNCT
ajfa-8898	98	4	,	,	PUNCT
ajfa-8898	98	5	10	10	NUM
ajfa-8898	98	6	,	,	PUNCT
ajfa-8898	98	7	ησσ	ησσ	NOUN
ajfa-8898	99	1	+	+	NOUN
ajfa-8898	99	2	+	+	NOUN
ajfa-8898	99	3	=	=	X
ajfa-8898	99	4	(	(	PUNCT
ajfa-8898	99	5	4	4	NUM
ajfa-8898	99	6	)	)	PUNCT
ajfa-8898	99	7	table	table	NOUN
ajfa-8898	99	8	2	2	NUM
ajfa-8898	99	9	.	.	PUNCT
ajfa-8898	100	1	cross	cross	ADJ
ajfa-8898	100	2	-	-	ADJ
ajfa-8898	100	3	sectional	sectional	ADJ
ajfa-8898	100	4	regression	regression	NOUN
ajfa-8898	100	5	of	of	ADP
ajfa-8898	100	6	returns	return	NOUN
ajfa-8898	100	7	on	on	ADP
ajfa-8898	100	8	iv	iv	NUM
ajfa-8898	100	9	and	and	CCONJ
ajfa-8898	100	10	control	control	NOUN
ajfa-8898	100	11	variables	variable	NOUN
ajfa-8898	100	12	(	(	PUNCT
ajfa-8898	100	13	size	size	NOUN
ajfa-8898	100	14	and	and	CCONJ
ajfa-8898	100	15	value	value	NOUN
ajfa-8898	100	16	)	)	PUNCT
ajfa-8898	100	17	variable	variable	ADJ
ajfa-8898	100	18	model	model	NOUN
ajfa-8898	100	19	1	1	NUM
ajfa-8898	100	20	model	model	NOUN
ajfa-8898	100	21	2	2	NUM
ajfa-8898	100	22	parameter	parameter	NOUN
ajfa-8898	100	23	t	t	PROPN
ajfa-8898	100	24	-	-	PUNCT
ajfa-8898	100	25	statistics	statistic	NOUN
ajfa-8898	100	26	parameter	parameter	PROPN
ajfa-8898	100	27	t	t	PROPN
ajfa-8898	100	28	-	-	PUNCT
ajfa-8898	100	29	statistic	statistic	NOUN
ajfa-8898	100	30	c	c	PROPN
ajfa-8898	100	31	-0.04323	-0.04323	PROPN
ajfa-8898	100	32	-3.0709	-3.0709	NOUN
ajfa-8898	100	33	-0.10506	-0.10506	PROPN
ajfa-8898	100	34	-0.49675	-0.49675	PROPN
ajfa-8898	100	35	iv	iv	X
ajfa-8898	100	36	0.48034	0.48034	NUM
ajfa-8898	100	37	*	*	PUNCT
ajfa-8898	100	38	3.4629	3.4629	NUM
ajfa-8898	100	39	0.616778	0.616778	NUM
ajfa-8898	100	40	*	*	PUNCT
ajfa-8898	100	41	2.618798	2.618798	NUM
ajfa-8898	100	42	lnbeme	lnbeme	NOUN
ajfa-8898	100	43	0.007564	0.007564	NUM
ajfa-8898	100	44	0.218268	0.218268	NUM
ajfa-8898	100	45	lnmcap	lnmcap	NOUN
ajfa-8898	100	46	0.026027	0.026027	NUM
ajfa-8898	100	47	*	*	PUNCT
ajfa-8898	100	48	*	*	PUNCT
ajfa-8898	100	49	0.807847	0.807847	NUM
ajfa-8898	100	50	r	r	NOUN
ajfa-8898	100	51	-	-	PUNCT
ajfa-8898	100	52	squared	square	VERB
ajfa-8898	100	53	0.153554	0.153554	NUM
ajfa-8898	100	54	0.173427	0.173427	NUM
ajfa-8898	100	55	note	note	NOUN
ajfa-8898	100	56	:	:	PUNCT
ajfa-8898	100	57	the	the	DET
ajfa-8898	100	58	sample	sample	NOUN
ajfa-8898	100	59	is	be	AUX
ajfa-8898	100	60	from	from	ADP
ajfa-8898	100	61	june	june	PROPN
ajfa-8898	100	62	2001	2001	NUM
ajfa-8898	100	63	to	to	ADP
ajfa-8898	100	64	march	march	PROPN
ajfa-8898	100	65	2012	2012	NUM
ajfa-8898	100	66	.	.	PUNCT
ajfa-8898	101	1	at	at	ADP
ajfa-8898	101	2	each	each	DET
ajfa-8898	101	3	month	month	NOUN
ajfa-8898	101	4	,	,	PUNCT
ajfa-8898	101	5	the	the	DET
ajfa-8898	101	6	cross	cross	NOUN
ajfa-8898	101	7	-	-	NOUN
ajfa-8898	101	8	section	section	NOUN
ajfa-8898	101	9	of	of	ADP
ajfa-8898	101	10	returns	return	NOUN
ajfa-8898	101	11	is	be	AUX
ajfa-8898	101	12	regressed	regress	VERB
ajfa-8898	101	13	on	on	ADP
ajfa-8898	101	14	cross	cross	NOUN
ajfa-8898	101	15	-	-	NOUN
ajfa-8898	101	16	section	section	NOUN
ajfa-8898	101	17	of	of	ADP
ajfa-8898	101	18	iv	iv	NUM
ajfa-8898	101	19	of	of	ADP
ajfa-8898	101	20	273	273	NUM
ajfa-8898	101	21	sample	sample	NOUN
ajfa-8898	101	22	firms	firm	NOUN
ajfa-8898	101	23	of	of	ADP
ajfa-8898	101	24	bse	bse	PROPN
ajfa-8898	101	25	500	500	NUM
ajfa-8898	101	26	.	.	PUNCT
ajfa-8898	102	1	the	the	DET
ajfa-8898	102	2	table	table	NOUN
ajfa-8898	102	3	reports	report	VERB
ajfa-8898	102	4	the	the	DET
ajfa-8898	102	5	time	time	NOUN
ajfa-8898	102	6	-	-	PUNCT
ajfa-8898	102	7	series	series	NOUN
ajfa-8898	102	8	average	average	NOUN
ajfa-8898	102	9	of	of	ADP
ajfa-8898	102	10	parameters	parameter	NOUN
ajfa-8898	102	11	and	and	CCONJ
ajfa-8898	102	12	the	the	DET
ajfa-8898	102	13	newey	newey	NOUN
ajfa-8898	102	14	-	-	PUNCT
ajfa-8898	102	15	west	west	PROPN
ajfa-8898	102	16	(	(	PUNCT
ajfa-8898	102	17	1987	1987	NUM
ajfa-8898	102	18	)	)	PUNCT
ajfa-8898	102	19	adjusted	adjust	VERB
ajfa-8898	102	20	t	t	PROPN
ajfa-8898	102	21	-	-	PUNCT
ajfa-8898	102	22	statistics	statistic	NOUN
ajfa-8898	102	23	.	.	PUNCT
ajfa-8898	103	1	the	the	DET
ajfa-8898	103	2	asian	asian	ADJ
ajfa-8898	103	3	journal	journal	PROPN
ajfa-8898	103	4	of	of	ADP
ajfa-8898	103	5	finance	finance	PROPN
ajfa-8898	103	6	&	&	CCONJ
ajfa-8898	103	7	accounting	accounting	PROPN
ajfa-8898	103	8	issn	issn	PROPN
ajfa-8898	103	9	1946	1946	NUM
ajfa-8898	103	10	-	-	PUNCT
ajfa-8898	103	11	052x	052x	PROPN
ajfa-8898	103	12	2016	2016	NUM
ajfa-8898	103	13	,	,	PUNCT
ajfa-8898	103	14	vol	vol	NOUN
ajfa-8898	103	15	.	.	PROPN
ajfa-8898	103	16	8	8	NUM
ajfa-8898	103	17	,	,	PUNCT
ajfa-8898	103	18	no	no	INTJ
ajfa-8898	103	19	.	.	NOUN
ajfa-8898	103	20	1	1	NUM
ajfa-8898	103	21	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	103	22	7	7	NUM
ajfa-8898	103	23	adjusted	adjust	VERB
ajfa-8898	103	24	r2	r2	NOUN
ajfa-8898	103	25	value	value	NOUN
ajfa-8898	103	26	is	be	AUX
ajfa-8898	103	27	also	also	ADV
ajfa-8898	103	28	reported	report	VERB
ajfa-8898	103	29	.	.	PUNCT
ajfa-8898	104	1	later	later	ADV
ajfa-8898	104	2	on	on	ADP
ajfa-8898	104	3	this	this	DET
ajfa-8898	104	4	regression	regression	NOUN
ajfa-8898	104	5	were	be	AUX
ajfa-8898	104	6	performed	perform	VERB
ajfa-8898	104	7	after	after	ADP
ajfa-8898	104	8	controlling	control	VERB
ajfa-8898	104	9	for	for	ADP
ajfa-8898	104	10	lnmcap	lnmcap	NOUN
ajfa-8898	104	11	(	(	PUNCT
ajfa-8898	104	12	size	size	NOUN
ajfa-8898	104	13	)	)	PUNCT
ajfa-8898	104	14	and	and	CCONJ
ajfa-8898	104	15	lnbeme	lnbeme	ADJ
ajfa-8898	104	16	(	(	PUNCT
ajfa-8898	104	17	value	value	NOUN
ajfa-8898	104	18	)	)	PUNCT
ajfa-8898	104	19	effect	effect	NOUN
ajfa-8898	104	20	.	.	PUNCT
ajfa-8898	105	1	*	*	PUNCT
ajfa-8898	105	2	represent	represent	VERB
ajfa-8898	105	3	significant	significant	ADJ
ajfa-8898	105	4	at	at	ADP
ajfa-8898	105	5	1	1	NUM
ajfa-8898	105	6	%	%	NOUN
ajfa-8898	105	7	level	level	NOUN
ajfa-8898	105	8	of	of	ADP
ajfa-8898	105	9	significance	significance	NOUN
ajfa-8898	105	10	and	and	CCONJ
ajfa-8898	105	11	*	*	NOUN
ajfa-8898	105	12	*	*	NOUN
ajfa-8898	105	13	for	for	ADP
ajfa-8898	105	14	5	5	NUM
ajfa-8898	105	15	%	%	NOUN
ajfa-8898	105	16	level	level	NOUN
ajfa-8898	105	17	of	of	ADP
ajfa-8898	105	18	significance	significance	NOUN
ajfa-8898	105	19	.	.	PUNCT
ajfa-8898	106	1	model	model	NOUN
ajfa-8898	106	2	1	1	NUM
ajfa-8898	106	3	of	of	ADP
ajfa-8898	106	4	table	table	NOUN
ajfa-8898	106	5	2	2	NUM
ajfa-8898	106	6	reports	report	NOUN
ajfa-8898	106	7	the	the	DET
ajfa-8898	106	8	time	time	NOUN
ajfa-8898	106	9	series	series	PROPN
ajfa-8898	106	10	means	mean	NOUN
ajfa-8898	106	11	of	of	ADP
ajfa-8898	106	12	parameters	parameter	NOUN
ajfa-8898	106	13	and	and	CCONJ
ajfa-8898	106	14	newey	newey	PROPN
ajfa-8898	106	15	-	-	PUNCT
ajfa-8898	106	16	west	west	PROPN
ajfa-8898	106	17	(	(	PUNCT
ajfa-8898	106	18	1987	1987	NUM
ajfa-8898	106	19	)	)	PUNCT
ajfa-8898	106	20	t	t	PROPN
ajfa-8898	106	21	-	-	PUNCT
ajfa-8898	106	22	statistics	statistic	NOUN
ajfa-8898	106	23	for	for	ADP
ajfa-8898	106	24	regression	regression	NOUN
ajfa-8898	106	25	of	of	ADP
ajfa-8898	106	26	returns	return	NOUN
ajfa-8898	106	27	on	on	ADP
ajfa-8898	106	28	iv	iv	NUM
ajfa-8898	106	29	.	.	PUNCT
ajfa-8898	107	1	the	the	DET
ajfa-8898	107	2	coefficient	coefficient	NOUN
ajfa-8898	107	3	of	of	ADP
ajfa-8898	107	4	iv	iv	NUM
ajfa-8898	107	5	is	be	AUX
ajfa-8898	107	6	-0.04	-0.04	NUM
ajfa-8898	107	7	which	which	PRON
ajfa-8898	107	8	is	be	AUX
ajfa-8898	107	9	very	very	ADV
ajfa-8898	107	10	low	low	ADJ
ajfa-8898	107	11	and	and	CCONJ
ajfa-8898	107	12	insignificant	insignificant	ADJ
ajfa-8898	107	13	while	while	SCONJ
ajfa-8898	107	14	the	the	DET
ajfa-8898	107	15	parameter	parameter	NOUN
ajfa-8898	107	16	of	of	ADP
ajfa-8898	107	17	iv	iv	NUM
ajfa-8898	107	18	is	be	AUX
ajfa-8898	107	19	0.48	0.48	NUM
ajfa-8898	107	20	which	which	PRON
ajfa-8898	107	21	is	be	AUX
ajfa-8898	107	22	positive	positive	ADJ
ajfa-8898	107	23	and	and	CCONJ
ajfa-8898	107	24	significant	significant	ADJ
ajfa-8898	107	25	at	at	ADP
ajfa-8898	107	26	1	1	NUM
ajfa-8898	107	27	%	%	NOUN
ajfa-8898	107	28	level	level	NOUN
ajfa-8898	107	29	of	of	ADP
ajfa-8898	107	30	significance	significance	NOUN
ajfa-8898	107	31	.	.	PUNCT
ajfa-8898	108	1	this	this	PRON
ajfa-8898	108	2	indicates	indicate	VERB
ajfa-8898	108	3	that	that	SCONJ
ajfa-8898	108	4	in	in	ADP
ajfa-8898	108	5	indian	indian	ADJ
ajfa-8898	108	6	stock	stock	NOUN
ajfa-8898	108	7	market	market	NOUN
ajfa-8898	108	8	,	,	PUNCT
ajfa-8898	108	9	the	the	DET
ajfa-8898	108	10	iv	iv	NOUN
ajfa-8898	108	11	is	be	AUX
ajfa-8898	108	12	having	have	VERB
ajfa-8898	108	13	significant	significant	ADJ
ajfa-8898	108	14	explanatory	explanatory	ADJ
ajfa-8898	108	15	power	power	NOUN
ajfa-8898	108	16	to	to	PART
ajfa-8898	108	17	predict	predict	VERB
ajfa-8898	108	18	the	the	DET
ajfa-8898	108	19	stock	stock	NOUN
ajfa-8898	108	20	returns	return	NOUN
ajfa-8898	108	21	.	.	PUNCT
ajfa-8898	109	1	the	the	DET
ajfa-8898	109	2	existing	exist	VERB
ajfa-8898	109	3	asset	asset	NOUN
ajfa-8898	109	4	pricing	pricing	NOUN
ajfa-8898	109	5	literature	literature	NOUN
ajfa-8898	109	6	had	have	AUX
ajfa-8898	109	7	documented	document	VERB
ajfa-8898	109	8	that	that	SCONJ
ajfa-8898	109	9	the	the	DET
ajfa-8898	109	10	anomaly	anomaly	NOUN
ajfa-8898	109	11	factors	factor	NOUN
ajfa-8898	109	12	;	;	PUNCT
ajfa-8898	109	13	market	market	NOUN
ajfa-8898	109	14	capitalization	capitalization	NOUN
ajfa-8898	109	15	and	and	CCONJ
ajfa-8898	109	16	book	book	NOUN
ajfa-8898	109	17	to	to	ADP
ajfa-8898	109	18	market	market	NOUN
ajfa-8898	109	19	ratio	ratio	NOUN
ajfa-8898	109	20	(	(	PUNCT
ajfa-8898	109	21	fama	fama	PROPN
ajfa-8898	109	22	french	french	NOUN
ajfa-8898	109	23	,	,	PUNCT
ajfa-8898	109	24	1992	1992	NUM
ajfa-8898	109	25	)	)	PUNCT
ajfa-8898	109	26	had	have	VERB
ajfa-8898	109	27	significant	significant	ADJ
ajfa-8898	109	28	explanatory	explanatory	ADJ
ajfa-8898	109	29	power	power	NOUN
ajfa-8898	109	30	of	of	ADP
ajfa-8898	109	31	explaining	explain	VERB
ajfa-8898	109	32	variation	variation	NOUN
ajfa-8898	109	33	in	in	ADP
ajfa-8898	109	34	the	the	DET
ajfa-8898	109	35	cross	cross	NOUN
ajfa-8898	109	36	-	-	NOUN
ajfa-8898	109	37	section	section	NOUN
ajfa-8898	109	38	of	of	ADP
ajfa-8898	109	39	stock	stock	NOUN
ajfa-8898	109	40	returns	return	NOUN
ajfa-8898	109	41	.	.	PUNCT
ajfa-8898	110	1	in	in	ADP
ajfa-8898	110	2	order	order	NOUN
ajfa-8898	110	3	to	to	PART
ajfa-8898	110	4	test	test	VERB
ajfa-8898	110	5	the	the	DET
ajfa-8898	110	6	robustness	robustness	NOUN
ajfa-8898	110	7	of	of	ADP
ajfa-8898	110	8	the	the	DET
ajfa-8898	110	9	results	result	NOUN
ajfa-8898	110	10	reported	report	VERB
ajfa-8898	110	11	in	in	ADP
ajfa-8898	110	12	model	model	NOUN
ajfa-8898	110	13	1	1	NUM
ajfa-8898	110	14	of	of	ADP
ajfa-8898	110	15	table	table	NOUN
ajfa-8898	110	16	2	2	NUM
ajfa-8898	110	17	,	,	PUNCT
ajfa-8898	110	18	cross	cross	NOUN
ajfa-8898	110	19	-	-	NOUN
ajfa-8898	110	20	section	section	NOUN
ajfa-8898	110	21	of	of	ADP
ajfa-8898	110	22	returns	return	NOUN
ajfa-8898	110	23	is	be	AUX
ajfa-8898	110	24	regressed	regress	VERB
ajfa-8898	110	25	on	on	ADP
ajfa-8898	110	26	iv	iv	NOUN
ajfa-8898	110	27	after	after	ADP
ajfa-8898	110	28	controlling	control	VERB
ajfa-8898	110	29	for	for	ADP
ajfa-8898	110	30	variables	variable	NOUN
ajfa-8898	110	31	i.e.	i.e.	X
ajfa-8898	110	32	,	,	PUNCT
ajfa-8898	110	33	the	the	DET
ajfa-8898	110	34	logarithmic	logarithmic	ADJ
ajfa-8898	110	35	value	value	NOUN
ajfa-8898	110	36	of	of	ADP
ajfa-8898	110	37	market	market	NOUN
ajfa-8898	110	38	capitalization	capitalization	NOUN
ajfa-8898	110	39	and	and	CCONJ
ajfa-8898	110	40	book	book	NOUN
ajfa-8898	110	41	to	to	ADP
ajfa-8898	110	42	market	market	NOUN
ajfa-8898	110	43	ratio	ratio	NOUN
ajfa-8898	110	44	of	of	ADP
ajfa-8898	110	45	individual	individual	ADJ
ajfa-8898	110	46	firms	firm	NOUN
ajfa-8898	110	47	.	.	PUNCT
ajfa-8898	111	1	tititititi	tititititi	PROPN
ajfa-8898	111	2	mcapbemeivr	mcapbemeivr	VERB
ajfa-8898	111	3	,	,	PUNCT
ajfa-8898	111	4	,	,	PUNCT
ajfa-8898	111	5	3,2,10	3,2,10	NUM
ajfa-8898	111	6	,	,	PUNCT
ajfa-8898	111	7	lnln	lnln	NOUN
ajfa-8898	111	8	ησσσσ	ησσσσ	NOUN
ajfa-8898	111	9	+	+	PROPN
ajfa-8898	111	10	+	+	ADJ
ajfa-8898	111	11	+	+	ADJ
ajfa-8898	111	12	+	+	NOUN
ajfa-8898	111	13	=	=	X
ajfa-8898	111	14	(	(	PUNCT
ajfa-8898	111	15	5	5	NUM
ajfa-8898	111	16	)	)	PUNCT
ajfa-8898	111	17	the	the	DET
ajfa-8898	111	18	results	result	NOUN
ajfa-8898	111	19	are	be	AUX
ajfa-8898	111	20	reported	report	VERB
ajfa-8898	111	21	in	in	ADP
ajfa-8898	111	22	the	the	DET
ajfa-8898	111	23	model	model	NOUN
ajfa-8898	111	24	2	2	NUM
ajfa-8898	111	25	of	of	ADP
ajfa-8898	111	26	table	table	NOUN
ajfa-8898	111	27	2	2	NUM
ajfa-8898	111	28	.	.	PUNCT
ajfa-8898	112	1	the	the	DET
ajfa-8898	112	2	parameter	parameter	NOUN
ajfa-8898	112	3	of	of	ADP
ajfa-8898	112	4	iv	iv	NUM
ajfa-8898	112	5	,	,	PUNCT
ajfa-8898	112	6	after	after	ADP
ajfa-8898	112	7	controlling	control	VERB
ajfa-8898	112	8	for	for	ADP
ajfa-8898	112	9	control	control	NOUN
ajfa-8898	112	10	variables	variable	NOUN
ajfa-8898	112	11	,	,	PUNCT
ajfa-8898	112	12	is	be	AUX
ajfa-8898	112	13	0.62	0.62	NUM
ajfa-8898	112	14	which	which	PRON
ajfa-8898	112	15	is	be	AUX
ajfa-8898	112	16	higher	high	ADJ
ajfa-8898	112	17	than	than	ADP
ajfa-8898	112	18	those	those	PRON
ajfa-8898	112	19	reported	report	VERB
ajfa-8898	112	20	in	in	ADP
ajfa-8898	112	21	model	model	NOUN
ajfa-8898	112	22	1	1	NUM
ajfa-8898	112	23	.	.	PUNCT
ajfa-8898	113	1	it	it	PRON
ajfa-8898	113	2	is	be	AUX
ajfa-8898	113	3	significant	significant	ADJ
ajfa-8898	113	4	at	at	ADP
ajfa-8898	113	5	1	1	NUM
ajfa-8898	113	6	%	%	NOUN
ajfa-8898	113	7	level	level	NOUN
ajfa-8898	113	8	of	of	ADP
ajfa-8898	113	9	significance	significance	NOUN
ajfa-8898	113	10	,	,	PUNCT
ajfa-8898	113	11	and	and	CCONJ
ajfa-8898	113	12	the	the	DET
ajfa-8898	113	13	explanatory	explanatory	ADJ
ajfa-8898	113	14	power	power	NOUN
ajfa-8898	113	15	(	(	PUNCT
ajfa-8898	113	16	adjusted	adjusted	ADJ
ajfa-8898	113	17	r2	r2	NOUN
ajfa-8898	113	18	)	)	PUNCT
ajfa-8898	113	19	of	of	ADP
ajfa-8898	113	20	this	this	DET
ajfa-8898	113	21	model	model	NOUN
ajfa-8898	113	22	has	have	AUX
ajfa-8898	113	23	improved	improve	VERB
ajfa-8898	113	24	after	after	ADP
ajfa-8898	113	25	controlling	control	VERB
ajfa-8898	113	26	for	for	ADP
ajfa-8898	113	27	anomaly	anomaly	NOUN
ajfa-8898	113	28	factors	factor	NOUN
ajfa-8898	113	29	.	.	PUNCT
ajfa-8898	114	1	this	this	PRON
ajfa-8898	114	2	clearly	clearly	ADV
ajfa-8898	114	3	indicates	indicate	VERB
ajfa-8898	114	4	that	that	SCONJ
ajfa-8898	114	5	iv	iv	NUM
ajfa-8898	114	6	is	be	AUX
ajfa-8898	114	7	having	have	VERB
ajfa-8898	114	8	significant	significant	ADJ
ajfa-8898	114	9	explanatory	explanatory	ADJ
ajfa-8898	114	10	power	power	NOUN
ajfa-8898	114	11	to	to	PART
ajfa-8898	114	12	explain	explain	VERB
ajfa-8898	114	13	cross	cross	ADJ
ajfa-8898	114	14	-	-	ADJ
ajfa-8898	114	15	sectional	sectional	ADJ
ajfa-8898	114	16	variation	variation	NOUN
ajfa-8898	114	17	in	in	ADP
ajfa-8898	114	18	stock	stock	NOUN
ajfa-8898	114	19	’s	’s	PART
ajfa-8898	114	20	returns	return	NOUN
ajfa-8898	114	21	and	and	CCONJ
ajfa-8898	114	22	the	the	DET
ajfa-8898	114	23	impact	impact	NOUN
ajfa-8898	114	24	of	of	ADP
ajfa-8898	114	25	iv	iv	NUM
ajfa-8898	114	26	is	be	AUX
ajfa-8898	114	27	positive	positive	ADJ
ajfa-8898	114	28	and	and	CCONJ
ajfa-8898	114	29	significant	significant	ADJ
ajfa-8898	114	30	.	.	PUNCT
ajfa-8898	115	1	recent	recent	ADJ
ajfa-8898	115	2	literature	literature	NOUN
ajfa-8898	115	3	on	on	ADP
ajfa-8898	115	4	the	the	DET
ajfa-8898	115	5	relationship	relationship	NOUN
ajfa-8898	115	6	between	between	ADP
ajfa-8898	115	7	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	115	8	volatility	volatility	NOUN
ajfa-8898	115	9	and	and	CCONJ
ajfa-8898	115	10	stock	stock	NOUN
ajfa-8898	115	11	returns	return	NOUN
ajfa-8898	115	12	advocates	advocate	VERB
ajfa-8898	115	13	the	the	DET
ajfa-8898	115	14	decomposition	decomposition	NOUN
ajfa-8898	115	15	of	of	ADP
ajfa-8898	115	16	iv	iv	NOUN
ajfa-8898	115	17	into	into	ADP
ajfa-8898	115	18	ei	ei	NOUN
ajfa-8898	115	19	and	and	CCONJ
ajfa-8898	115	20	ui	ui	PROPN
ajfa-8898	115	21	.	.	PROPN
ajfa-8898	115	22	fu	fu	PROPN
ajfa-8898	115	23	(	(	PUNCT
ajfa-8898	115	24	2009	2009	NUM
ajfa-8898	115	25	)	)	PUNCT
ajfa-8898	115	26	addressed	address	VERB
ajfa-8898	115	27	this	this	DET
ajfa-8898	115	28	issue	issue	NOUN
ajfa-8898	115	29	and	and	CCONJ
ajfa-8898	115	30	emphasized	emphasize	VERB
ajfa-8898	115	31	the	the	DET
ajfa-8898	115	32	use	use	NOUN
ajfa-8898	115	33	of	of	ADP
ajfa-8898	115	34	ei	ei	X
ajfa-8898	115	35	determined	determine	VERB
ajfa-8898	115	36	ex	ex	NOUN
ajfa-8898	115	37	-	-	NOUN
ajfa-8898	115	38	ante	ante	NOUN
ajfa-8898	115	39	and	and	CCONJ
ajfa-8898	115	40	not	not	PART
ajfa-8898	115	41	the	the	DET
ajfa-8898	115	42	total	total	ADJ
ajfa-8898	115	43	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	115	44	volatility	volatility	NOUN
ajfa-8898	115	45	.	.	PUNCT
ajfa-8898	116	1	3.2	3.2	NUM
ajfa-8898	116	2	cross	cross	ADJ
ajfa-8898	116	3	-	-	ADJ
ajfa-8898	116	4	sectional	sectional	ADJ
ajfa-8898	116	5	pricing	pricing	NOUN
ajfa-8898	116	6	ability	ability	NOUN
ajfa-8898	116	7	of	of	ADP
ajfa-8898	116	8	ei	ei	NOUN
ajfa-8898	116	9	and	and	CCONJ
ajfa-8898	116	10	ui	ui	NOUN
ajfa-8898	116	11	to	to	PART
ajfa-8898	116	12	investigate	investigate	VERB
ajfa-8898	116	13	the	the	DET
ajfa-8898	116	14	relationship	relationship	NOUN
ajfa-8898	116	15	of	of	ADP
ajfa-8898	116	16	ei	ei	PROPN
ajfa-8898	116	17	,	,	PUNCT
ajfa-8898	116	18	ui	ui	PROPN
ajfa-8898	116	19	and	and	CCONJ
ajfa-8898	116	20	returns	return	NOUN
ajfa-8898	116	21	,	,	PUNCT
ajfa-8898	116	22	the	the	DET
ajfa-8898	116	23	returns	return	NOUN
ajfa-8898	116	24	of	of	ADP
ajfa-8898	116	25	companies	company	NOUN
ajfa-8898	116	26	are	be	AUX
ajfa-8898	116	27	regressed	regress	VERB
ajfa-8898	116	28	on	on	ADP
ajfa-8898	116	29	ei	ei	NOUN
ajfa-8898	116	30	using	use	VERB
ajfa-8898	116	31	following	follow	VERB
ajfa-8898	116	32	cross	cross	ADJ
ajfa-8898	116	33	-	-	ADJ
ajfa-8898	116	34	sectional	sectional	ADJ
ajfa-8898	116	35	regression	regression	NOUN
ajfa-8898	116	36	;	;	PUNCT
ajfa-8898	116	37	tititi	tititi	PROPN
ajfa-8898	116	38	eir	eir	PROPN
ajfa-8898	116	39	,	,	PUNCT
ajfa-8898	116	40	,	,	PUNCT
ajfa-8898	116	41	10	10	NUM
ajfa-8898	116	42	,	,	PUNCT
ajfa-8898	116	43	ηϑϑ	ηϑϑ	ADJ
ajfa-8898	116	44	+	+	ADJ
ajfa-8898	116	45	+	+	NOUN
ajfa-8898	116	46	=	=	SYM
ajfa-8898	116	47	(	(	PUNCT
ajfa-8898	116	48	6	6	NUM
ajfa-8898	116	49	)	)	PUNCT
ajfa-8898	116	50	asian	asian	ADJ
ajfa-8898	116	51	journal	journal	NOUN
ajfa-8898	116	52	of	of	ADP
ajfa-8898	116	53	finance	finance	PROPN
ajfa-8898	116	54	&	&	CCONJ
ajfa-8898	116	55	accounting	accounting	PROPN
ajfa-8898	116	56	issn	issn	PROPN
ajfa-8898	116	57	1946	1946	NUM
ajfa-8898	116	58	-	-	PUNCT
ajfa-8898	116	59	052x	052x	PROPN
ajfa-8898	116	60	2016	2016	NUM
ajfa-8898	116	61	,	,	PUNCT
ajfa-8898	116	62	vol	vol	NOUN
ajfa-8898	116	63	.	.	PROPN
ajfa-8898	116	64	8	8	NUM
ajfa-8898	116	65	,	,	PUNCT
ajfa-8898	116	66	no	no	INTJ
ajfa-8898	116	67	.	.	NOUN
ajfa-8898	116	68	1	1	NUM
ajfa-8898	116	69	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	116	70	8	8	NUM
ajfa-8898	116	71	table	table	NOUN
ajfa-8898	116	72	3	3	NUM
ajfa-8898	116	73	.	.	PUNCT
ajfa-8898	116	74	cross	cross	ADJ
ajfa-8898	116	75	-	-	ADJ
ajfa-8898	116	76	sectional	sectional	ADJ
ajfa-8898	116	77	regression	regression	NOUN
ajfa-8898	116	78	of	of	ADP
ajfa-8898	116	79	stock	stock	NOUN
ajfa-8898	116	80	returns	return	NOUN
ajfa-8898	116	81	on	on	ADP
ajfa-8898	116	82	ei	ei	NOUN
ajfa-8898	116	83	and	and	CCONJ
ajfa-8898	116	84	both	both	PRON
ajfa-8898	116	85	ei	ei	NOUN
ajfa-8898	116	86	and	and	CCONJ
ajfa-8898	116	87	ui	ui	PROPN
ajfa-8898	116	88	model	model	NOUN
ajfa-8898	116	89	3	3	NUM
ajfa-8898	116	90	model	model	NOUN
ajfa-8898	116	91	4	4	NUM
ajfa-8898	116	92	variable	variable	ADJ
ajfa-8898	116	93	parameter	parameter	NOUN
ajfa-8898	116	94	t	t	PROPN
ajfa-8898	116	95	-	-	PUNCT
ajfa-8898	116	96	statistic	statistic	NOUN
ajfa-8898	116	97	parameter	parameter	NOUN
ajfa-8898	116	98	t	t	PROPN
ajfa-8898	116	99	-	-	PUNCT
ajfa-8898	116	100	statistic	statistic	NOUN
ajfa-8898	116	101	c	c	NOUN
ajfa-8898	116	102	-0.0442	-0.0442	NOUN
ajfa-8898	116	103	-1.3184	-1.3184	VERB
ajfa-8898	116	104	-0.0441	-0.0441	NOUN
ajfa-8898	116	105	-1.482	-1.482	PUNCT
ajfa-8898	116	106	ei	ei	X
ajfa-8898	116	107	0.2596	0.2596	NUM
ajfa-8898	116	108	*	*	PUNCT
ajfa-8898	116	109	*	*	NOUN
ajfa-8898	116	110	0.3026	0.3026	NUM
ajfa-8898	116	111	0.24073	0.24073	NUM
ajfa-8898	116	112	*	*	PUNCT
ajfa-8898	116	113	*	*	PUNCT
ajfa-8898	116	114	0.4575	0.4575	NUM
ajfa-8898	116	115	ui	ui	NOUN
ajfa-8898	116	116	0.525245	0.525245	NUM
ajfa-8898	116	117	*	*	SYM
ajfa-8898	116	118	2.0831	2.0831	NUM
ajfa-8898	116	119	adjusted	adjust	VERB
ajfa-8898	116	120	r2	r2	NOUN
ajfa-8898	116	121	0.1089	0.1089	NUM
ajfa-8898	116	122	0.1610	0.1610	NUM
ajfa-8898	116	123	note	note	VERB
ajfa-8898	116	124	:	:	PUNCT
ajfa-8898	116	125	the	the	DET
ajfa-8898	116	126	sample	sample	NOUN
ajfa-8898	116	127	is	be	AUX
ajfa-8898	116	128	from	from	ADP
ajfa-8898	116	129	june	june	PROPN
ajfa-8898	116	130	2001	2001	NUM
ajfa-8898	116	131	to	to	ADP
ajfa-8898	116	132	march	march	PROPN
ajfa-8898	116	133	2012	2012	NUM
ajfa-8898	116	134	.	.	PUNCT
ajfa-8898	117	1	at	at	ADP
ajfa-8898	117	2	each	each	DET
ajfa-8898	117	3	month	month	NOUN
ajfa-8898	117	4	,	,	PUNCT
ajfa-8898	117	5	the	the	DET
ajfa-8898	117	6	cross	cross	NOUN
ajfa-8898	117	7	-	-	NOUN
ajfa-8898	117	8	section	section	NOUN
ajfa-8898	117	9	of	of	ADP
ajfa-8898	117	10	returns	return	NOUN
ajfa-8898	117	11	is	be	AUX
ajfa-8898	117	12	regressed	regress	VERB
ajfa-8898	117	13	on	on	ADP
ajfa-8898	117	14	ei	ei	ADP
ajfa-8898	117	15	of	of	ADP
ajfa-8898	117	16	273	273	NUM
ajfa-8898	117	17	sample	sample	NOUN
ajfa-8898	117	18	firms	firm	NOUN
ajfa-8898	117	19	of	of	ADP
ajfa-8898	117	20	bse	bse	PROPN
ajfa-8898	117	21	500	500	NUM
ajfa-8898	117	22	.	.	PUNCT
ajfa-8898	118	1	the	the	DET
ajfa-8898	118	2	table	table	NOUN
ajfa-8898	118	3	reports	report	VERB
ajfa-8898	118	4	the	the	DET
ajfa-8898	118	5	time	time	NOUN
ajfa-8898	118	6	-	-	PUNCT
ajfa-8898	118	7	series	series	NOUN
ajfa-8898	118	8	average	average	NOUN
ajfa-8898	118	9	of	of	ADP
ajfa-8898	118	10	parameters	parameter	NOUN
ajfa-8898	118	11	and	and	CCONJ
ajfa-8898	118	12	the	the	DET
ajfa-8898	118	13	newey	newey	NOUN
ajfa-8898	118	14	-	-	PUNCT
ajfa-8898	118	15	west	west	PROPN
ajfa-8898	118	16	(	(	PUNCT
ajfa-8898	118	17	1987	1987	NUM
ajfa-8898	118	18	)	)	PUNCT
ajfa-8898	118	19	adjusted	adjust	VERB
ajfa-8898	118	20	t	t	PROPN
ajfa-8898	118	21	-	-	PUNCT
ajfa-8898	118	22	statistics	statistic	NOUN
ajfa-8898	118	23	.	.	PUNCT
ajfa-8898	119	1	the	the	DET
ajfa-8898	119	2	adjusted	adjust	VERB
ajfa-8898	119	3	r2	r2	NOUN
ajfa-8898	119	4	value	value	NOUN
ajfa-8898	119	5	is	be	AUX
ajfa-8898	119	6	also	also	ADV
ajfa-8898	119	7	reported	report	VERB
ajfa-8898	119	8	.	.	PUNCT
ajfa-8898	120	1	later	later	ADV
ajfa-8898	120	2	on	on	ADP
ajfa-8898	120	3	this	this	DET
ajfa-8898	120	4	regression	regression	NOUN
ajfa-8898	120	5	were	be	AUX
ajfa-8898	120	6	performed	perform	VERB
ajfa-8898	120	7	after	after	ADP
ajfa-8898	120	8	controlling	control	VERB
ajfa-8898	120	9	for	for	ADP
ajfa-8898	120	10	ui	ui	PROPN
ajfa-8898	120	11	.	.	PUNCT
ajfa-8898	121	1	*	*	PUNCT
ajfa-8898	121	2	represent	represent	VERB
ajfa-8898	121	3	significant	significant	ADJ
ajfa-8898	121	4	at	at	ADP
ajfa-8898	121	5	1	1	NUM
ajfa-8898	121	6	%	%	NOUN
ajfa-8898	121	7	level	level	NOUN
ajfa-8898	121	8	of	of	ADP
ajfa-8898	121	9	significance	significance	NOUN
ajfa-8898	121	10	and	and	CCONJ
ajfa-8898	121	11	*	*	NOUN
ajfa-8898	121	12	*	*	NOUN
ajfa-8898	121	13	for	for	ADP
ajfa-8898	121	14	5	5	NUM
ajfa-8898	121	15	%	%	NOUN
ajfa-8898	121	16	level	level	NOUN
ajfa-8898	121	17	of	of	ADP
ajfa-8898	121	18	significance	significance	NOUN
ajfa-8898	121	19	.	.	PUNCT
ajfa-8898	122	1	model	model	NOUN
ajfa-8898	122	2	3	3	NUM
ajfa-8898	122	3	of	of	ADP
ajfa-8898	122	4	table	table	NOUN
ajfa-8898	122	5	3presents	3presents	NUM
ajfa-8898	122	6	the	the	DET
ajfa-8898	122	7	mean	mean	NOUN
ajfa-8898	122	8	of	of	ADP
ajfa-8898	122	9	cross	cross	ADJ
ajfa-8898	122	10	-	-	ADJ
ajfa-8898	122	11	sectional	sectional	ADJ
ajfa-8898	122	12	regression	regression	NOUN
ajfa-8898	122	13	result	result	NOUN
ajfa-8898	122	14	of	of	ADP
ajfa-8898	122	15	returns	return	NOUN
ajfa-8898	122	16	on	on	ADP
ajfa-8898	122	17	ei	ei	PROPN
ajfa-8898	122	18	.	.	PUNCT
ajfa-8898	123	1	the	the	DET
ajfa-8898	123	2	parameter	parameter	NOUN
ajfa-8898	123	3	of	of	ADP
ajfa-8898	123	4	ei	ei	PROPN
ajfa-8898	123	5	is	be	AUX
ajfa-8898	123	6	0.26	0.26	NUM
ajfa-8898	123	7	,	,	PUNCT
ajfa-8898	123	8	which	which	PRON
ajfa-8898	123	9	is	be	AUX
ajfa-8898	123	10	statistically	statistically	ADV
ajfa-8898	123	11	significant	significant	ADJ
ajfa-8898	123	12	at	at	ADP
ajfa-8898	123	13	5	5	NUM
ajfa-8898	123	14	%	%	NOUN
ajfa-8898	123	15	significance	significance	NOUN
ajfa-8898	123	16	level	level	NOUN
ajfa-8898	123	17	.	.	PUNCT
ajfa-8898	124	1	this	this	PRON
ajfa-8898	124	2	indicates	indicate	VERB
ajfa-8898	124	3	that	that	SCONJ
ajfa-8898	124	4	ei	ei	NOUN
ajfa-8898	124	5	is	be	AUX
ajfa-8898	124	6	having	have	VERB
ajfa-8898	124	7	significant	significant	ADJ
ajfa-8898	124	8	explanatory	explanatory	ADJ
ajfa-8898	124	9	power	power	NOUN
ajfa-8898	124	10	to	to	PART
ajfa-8898	124	11	explain	explain	VERB
ajfa-8898	124	12	cross	cross	ADJ
ajfa-8898	124	13	-	-	ADJ
ajfa-8898	124	14	sectional	sectional	ADJ
ajfa-8898	124	15	variation	variation	NOUN
ajfa-8898	124	16	in	in	ADP
ajfa-8898	124	17	expected	expect	VERB
ajfa-8898	124	18	stock	stock	NOUN
ajfa-8898	124	19	returns	return	NOUN
ajfa-8898	124	20	,	,	PUNCT
ajfa-8898	124	21	but	but	CCONJ
ajfa-8898	124	22	ei	ei	NOUN
ajfa-8898	124	23	does	do	AUX
ajfa-8898	124	24	n’t	not	PART
ajfa-8898	124	25	outperform	outperform	VERB
ajfa-8898	124	26	in	in	ADP
ajfa-8898	124	27	comparison	comparison	NOUN
ajfa-8898	124	28	to	to	ADP
ajfa-8898	124	29	iv	iv	NUM
ajfa-8898	124	30	.	.	PUNCT
ajfa-8898	125	1	further	far	ADV
ajfa-8898	125	2	the	the	DET
ajfa-8898	125	3	relationship	relationship	NOUN
ajfa-8898	125	4	of	of	ADP
ajfa-8898	125	5	ei	ei	NOUN
ajfa-8898	125	6	and	and	CCONJ
ajfa-8898	125	7	returns	return	NOUN
ajfa-8898	125	8	is	be	AUX
ajfa-8898	125	9	explored	explore	VERB
ajfa-8898	125	10	after	after	ADP
ajfa-8898	125	11	controlling	control	VERB
ajfa-8898	125	12	for	for	ADP
ajfa-8898	125	13	ui	ui	NOUN
ajfa-8898	125	14	and	and	CCONJ
ajfa-8898	125	15	following	follow	VERB
ajfa-8898	125	16	cross	cross	ADJ
ajfa-8898	125	17	-	-	ADJ
ajfa-8898	125	18	sectional	sectional	ADJ
ajfa-8898	125	19	regression	regression	NOUN
ajfa-8898	125	20	equation	equation	NOUN
ajfa-8898	125	21	is	be	AUX
ajfa-8898	125	22	used	use	VERB
ajfa-8898	125	23	;	;	PUNCT
ajfa-8898	125	24	titititi	titititi	VERB
ajfa-8898	125	25	uieir	uieir	NOUN
ajfa-8898	125	26	,	,	PUNCT
ajfa-8898	125	27	,	,	PUNCT
ajfa-8898	125	28	2,10	2,10	NUM
ajfa-8898	125	29	,	,	PUNCT
ajfa-8898	125	30	ηϑϑϑ	ηϑϑϑ	VERB
ajfa-8898	125	31	+	+	PROPN
ajfa-8898	125	32	+	+	ADJ
ajfa-8898	125	33	+	+	NOUN
ajfa-8898	125	34	=	=	X
ajfa-8898	125	35	(	(	PUNCT
ajfa-8898	125	36	7	7	X
ajfa-8898	125	37	)	)	PUNCT
ajfa-8898	125	38	model	model	NOUN
ajfa-8898	125	39	4	4	NUM
ajfa-8898	125	40	of	of	ADP
ajfa-8898	125	41	table	table	NOUN
ajfa-8898	125	42	3	3	NUM
ajfa-8898	125	43	represents	represent	VERB
ajfa-8898	125	44	the	the	DET
ajfa-8898	125	45	results	result	NOUN
ajfa-8898	125	46	of	of	ADP
ajfa-8898	125	47	the	the	DET
ajfa-8898	125	48	cross	cross	ADJ
ajfa-8898	125	49	-	-	ADJ
ajfa-8898	125	50	sectional	sectional	ADJ
ajfa-8898	125	51	regression	regression	NOUN
ajfa-8898	125	52	of	of	ADP
ajfa-8898	125	53	returns	return	NOUN
ajfa-8898	125	54	on	on	ADP
ajfa-8898	125	55	ei	ei	NOUN
ajfa-8898	125	56	and	and	CCONJ
ajfa-8898	125	57	ui	ui	PROPN
ajfa-8898	125	58	.	.	PUNCT
ajfa-8898	126	1	the	the	DET
ajfa-8898	126	2	parameter	parameter	NOUN
ajfa-8898	126	3	of	of	ADP
ajfa-8898	126	4	ui	ui	PROPN
ajfa-8898	126	5	is	be	AUX
ajfa-8898	126	6	0.5252	0.5252	NUM
ajfa-8898	126	7	which	which	PRON
ajfa-8898	126	8	is	be	AUX
ajfa-8898	126	9	significant	significant	ADJ
ajfa-8898	126	10	at	at	ADP
ajfa-8898	126	11	1	1	NUM
ajfa-8898	126	12	%	%	NOUN
ajfa-8898	126	13	level	level	NOUN
ajfa-8898	126	14	of	of	ADP
ajfa-8898	126	15	significance	significance	NOUN
ajfa-8898	126	16	,	,	PUNCT
ajfa-8898	126	17	supports	support	VERB
ajfa-8898	126	18	the	the	DET
ajfa-8898	126	19	findings	finding	NOUN
ajfa-8898	126	20	of	of	ADP
ajfa-8898	126	21	chua	chua	PROPN
ajfa-8898	126	22	et	et	PROPN
ajfa-8898	126	23	.	.	PUNCT
ajfa-8898	127	1	al	al	PROPN
ajfa-8898	127	2	.	.	PROPN
ajfa-8898	127	3	,	,	PUNCT
ajfa-8898	127	4	(	(	PUNCT
ajfa-8898	127	5	2010	2010	NUM
ajfa-8898	127	6	)	)	PUNCT
ajfa-8898	127	7	,	,	PUNCT
ajfa-8898	127	8	who	who	PRON
ajfa-8898	127	9	reported	report	VERB
ajfa-8898	127	10	that	that	SCONJ
ajfa-8898	127	11	ui	ui	PROPN
ajfa-8898	127	12	controls	control	VERB
ajfa-8898	127	13	for	for	ADP
ajfa-8898	127	14	unexpected	unexpected	ADJ
ajfa-8898	127	15	variation	variation	NOUN
ajfa-8898	127	16	in	in	ADP
ajfa-8898	127	17	the	the	DET
ajfa-8898	127	18	future	future	ADJ
ajfa-8898	127	19	stock	stock	NOUN
ajfa-8898	127	20	returns	return	NOUN
ajfa-8898	127	21	.	.	PUNCT
ajfa-8898	128	1	the	the	DET
ajfa-8898	128	2	parameter	parameter	NOUN
ajfa-8898	128	3	of	of	ADP
ajfa-8898	128	4	ei	ei	PROPN
ajfa-8898	128	5	is	be	AUX
ajfa-8898	128	6	0.24	0.24	NUM
ajfa-8898	128	7	at	at	ADP
ajfa-8898	128	8	5	5	NUM
ajfa-8898	128	9	%	%	NOUN
ajfa-8898	128	10	level	level	NOUN
ajfa-8898	128	11	of	of	ADP
ajfa-8898	128	12	significance	significance	NOUN
ajfa-8898	128	13	.	.	PUNCT
ajfa-8898	129	1	this	this	DET
ajfa-8898	129	2	parameter	parameter	NOUN
ajfa-8898	129	3	value	value	NOUN
ajfa-8898	129	4	is	be	AUX
ajfa-8898	129	5	marginally	marginally	ADV
ajfa-8898	129	6	lower	low	ADJ
ajfa-8898	129	7	than	than	ADP
ajfa-8898	129	8	the	the	DET
ajfa-8898	129	9	parameter	parameter	NOUN
ajfa-8898	129	10	of	of	ADP
ajfa-8898	129	11	ei	ei	X
ajfa-8898	129	12	(	(	PUNCT
ajfa-8898	129	13	when	when	SCONJ
ajfa-8898	129	14	there	there	PRON
ajfa-8898	129	15	was	be	VERB
ajfa-8898	129	16	no	no	DET
ajfa-8898	129	17	control	control	NOUN
ajfa-8898	129	18	over	over	ADP
ajfa-8898	129	19	ui	ui	PROPN
ajfa-8898	129	20	)	)	PUNCT
ajfa-8898	129	21	.	.	PUNCT
ajfa-8898	130	1	these	these	DET
ajfa-8898	130	2	results	result	NOUN
ajfa-8898	130	3	suggest	suggest	VERB
ajfa-8898	130	4	that	that	SCONJ
ajfa-8898	130	5	in	in	ADP
ajfa-8898	130	6	indian	indian	ADJ
ajfa-8898	130	7	context	context	NOUN
ajfa-8898	130	8	,	,	PUNCT
ajfa-8898	130	9	ei	ei	X
ajfa-8898	130	10	’s	’s	PART
ajfa-8898	130	11	explanatory	explanatory	ADJ
ajfa-8898	130	12	power	power	NOUN
ajfa-8898	130	13	for	for	ADP
ajfa-8898	130	14	explaining	explain	VERB
ajfa-8898	130	15	cross	cross	NOUN
ajfa-8898	130	16	-	-	NOUN
ajfa-8898	130	17	section	section	NOUN
ajfa-8898	130	18	of	of	ADP
ajfa-8898	130	19	expected	expect	VERB
ajfa-8898	130	20	returns	return	NOUN
ajfa-8898	130	21	,	,	PUNCT
ajfa-8898	130	22	sustains	sustain	VERB
ajfa-8898	130	23	after	after	ADP
ajfa-8898	130	24	ui	ui	NOUN
ajfa-8898	130	25	controlling	control	VERB
ajfa-8898	130	26	for	for	ADP
ajfa-8898	130	27	unexpected	unexpected	ADJ
ajfa-8898	130	28	component	component	NOUN
ajfa-8898	130	29	of	of	ADP
ajfa-8898	130	30	future	future	ADJ
ajfa-8898	130	31	stocks	stock	NOUN
ajfa-8898	130	32	returns	return	NOUN
ajfa-8898	130	33	.	.	PUNCT
ajfa-8898	131	1	the	the	DET
ajfa-8898	131	2	results	result	NOUN
ajfa-8898	131	3	also	also	ADV
ajfa-8898	131	4	suggest	suggest	VERB
ajfa-8898	131	5	that	that	SCONJ
ajfa-8898	131	6	the	the	DET
ajfa-8898	131	7	impact	impact	NOUN
ajfa-8898	131	8	of	of	ADP
ajfa-8898	131	9	ei	ei	NOUN
ajfa-8898	131	10	on	on	ADP
ajfa-8898	131	11	returns	return	NOUN
ajfa-8898	131	12	is	be	AUX
ajfa-8898	131	13	economically	economically	ADV
ajfa-8898	131	14	significant	significant	ADJ
ajfa-8898	131	15	.	.	PUNCT
ajfa-8898	132	1	a	a	DET
ajfa-8898	132	2	1	1	NUM
ajfa-8898	132	3	%	%	NOUN
ajfa-8898	132	4	increase	increase	NOUN
ajfa-8898	132	5	in	in	ADP
ajfa-8898	132	6	the	the	DET
ajfa-8898	132	7	ei	ei	NOUN
ajfa-8898	132	8	will	will	AUX
ajfa-8898	132	9	lead	lead	VERB
ajfa-8898	132	10	to	to	ADP
ajfa-8898	132	11	0.24	0.24	NUM
ajfa-8898	132	12	%	%	NOUN
ajfa-8898	132	13	increase	increase	NOUN
ajfa-8898	132	14	in	in	ADP
ajfa-8898	132	15	the	the	DET
ajfa-8898	132	16	expected	expect	VERB
ajfa-8898	132	17	stock	stock	NOUN
ajfa-8898	132	18	returns	return	NOUN
ajfa-8898	132	19	.	.	PUNCT
ajfa-8898	133	1	the	the	DET
ajfa-8898	133	2	relationship	relationship	NOUN
ajfa-8898	133	3	of	of	ADP
ajfa-8898	133	4	ei	ei	NOUN
ajfa-8898	133	5	and	and	CCONJ
ajfa-8898	133	6	returns	return	NOUN
ajfa-8898	133	7	is	be	AUX
ajfa-8898	133	8	positive	positive	ADJ
ajfa-8898	133	9	,	,	PUNCT
ajfa-8898	133	10	which	which	PRON
ajfa-8898	133	11	is	be	AUX
ajfa-8898	133	12	in	in	ADP
ajfa-8898	133	13	line	line	NOUN
ajfa-8898	133	14	with	with	ADP
ajfa-8898	133	15	the	the	DET
ajfa-8898	133	16	existing	exist	VERB
ajfa-8898	133	17	literature	literature	NOUN
ajfa-8898	133	18	.	.	PUNCT
ajfa-8898	134	1	after	after	ADP
ajfa-8898	134	2	controlling	control	VERB
ajfa-8898	134	3	for	for	ADP
ajfa-8898	134	4	unexpected	unexpected	ADJ
ajfa-8898	134	5	returns	return	NOUN
ajfa-8898	134	6	,	,	PUNCT
ajfa-8898	134	7	the	the	DET
ajfa-8898	134	8	ei	ei	X
ajfa-8898	134	9	’s	’s	PART
ajfa-8898	134	10	explanatory	explanatory	ADJ
ajfa-8898	134	11	power	power	NOUN
ajfa-8898	134	12	should	should	AUX
ajfa-8898	134	13	increase	increase	VERB
ajfa-8898	134	14	but	but	CCONJ
ajfa-8898	134	15	we	we	PRON
ajfa-8898	134	16	do	do	AUX
ajfa-8898	134	17	n’t	not	PART
ajfa-8898	134	18	find	find	VERB
ajfa-8898	134	19	any	any	DET
ajfa-8898	134	20	evidences	evidence	NOUN
ajfa-8898	134	21	in	in	ADP
ajfa-8898	134	22	indian	indian	ADJ
ajfa-8898	134	23	context	context	NOUN
ajfa-8898	134	24	.	.	PUNCT
ajfa-8898	135	1	in	in	ADP
ajfa-8898	135	2	order	order	NOUN
ajfa-8898	135	3	to	to	PART
ajfa-8898	135	4	re	re	VERB
ajfa-8898	135	5	-	-	VERB
ajfa-8898	135	6	examine	examine	VERB
ajfa-8898	135	7	and	and	CCONJ
ajfa-8898	135	8	test	test	VERB
ajfa-8898	135	9	the	the	DET
ajfa-8898	135	10	robustness	robustness	NOUN
ajfa-8898	135	11	of	of	ADP
ajfa-8898	135	12	asian	asian	ADJ
ajfa-8898	135	13	journal	journal	NOUN
ajfa-8898	135	14	of	of	ADP
ajfa-8898	135	15	finance	finance	PROPN
ajfa-8898	135	16	&	&	CCONJ
ajfa-8898	135	17	accounting	accounting	PROPN
ajfa-8898	135	18	issn	issn	PROPN
ajfa-8898	135	19	1946	1946	NUM
ajfa-8898	135	20	-	-	PUNCT
ajfa-8898	135	21	052x	052x	PROPN
ajfa-8898	135	22	2016	2016	NUM
ajfa-8898	135	23	,	,	PUNCT
ajfa-8898	135	24	vol	vol	NOUN
ajfa-8898	135	25	.	.	PROPN
ajfa-8898	135	26	8	8	NUM
ajfa-8898	135	27	,	,	PUNCT
ajfa-8898	135	28	no	no	INTJ
ajfa-8898	135	29	.	.	NOUN
ajfa-8898	135	30	1	1	NUM
ajfa-8898	135	31	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	135	32	9	9	NUM
ajfa-8898	135	33	this	this	DET
ajfa-8898	135	34	relationship	relationship	NOUN
ajfa-8898	135	35	,	,	PUNCT
ajfa-8898	135	36	the	the	DET
ajfa-8898	135	37	study	study	NOUN
ajfa-8898	135	38	uses	use	VERB
ajfa-8898	135	39	the	the	DET
ajfa-8898	135	40	market	market	NOUN
ajfa-8898	135	41	capitalization	capitalization	NOUN
ajfa-8898	135	42	and	and	CCONJ
ajfa-8898	135	43	book	book	NOUN
ajfa-8898	135	44	to	to	ADP
ajfa-8898	135	45	market	market	NOUN
ajfa-8898	135	46	ratio	ratio	NOUN
ajfa-8898	135	47	(	(	PUNCT
ajfa-8898	135	48	fama	fama	PROPN
ajfa-8898	135	49	french	french	NOUN
ajfa-8898	135	50	,	,	PUNCT
ajfa-8898	135	51	1992	1992	NUM
ajfa-8898	135	52	)	)	PUNCT
ajfa-8898	135	53	as	as	ADP
ajfa-8898	135	54	control	control	NOUN
ajfa-8898	135	55	variables	variable	NOUN
ajfa-8898	135	56	.	.	PUNCT
ajfa-8898	136	1	3.3	3.3	NUM
ajfa-8898	136	2	control	control	NOUN
ajfa-8898	136	3	variable	variable	NOUN
ajfa-8898	136	4	and	and	CCONJ
ajfa-8898	136	5	relationship	relationship	NOUN
ajfa-8898	136	6	of	of	ADP
ajfa-8898	136	7	ei	ei	PROPN
ajfa-8898	136	8	,	,	PUNCT
ajfa-8898	136	9	ui	ui	PROPN
ajfa-8898	136	10	and	and	CCONJ
ajfa-8898	136	11	returns	return	NOUN
ajfa-8898	136	12	to	to	PART
ajfa-8898	136	13	test	test	VERB
ajfa-8898	136	14	the	the	DET
ajfa-8898	136	15	robustness	robustness	NOUN
ajfa-8898	136	16	of	of	ADP
ajfa-8898	136	17	the	the	DET
ajfa-8898	136	18	relationship	relationship	NOUN
ajfa-8898	136	19	of	of	ADP
ajfa-8898	136	20	ei	ei	NOUN
ajfa-8898	136	21	and	and	CCONJ
ajfa-8898	136	22	returns	return	NOUN
ajfa-8898	136	23	,	,	PUNCT
ajfa-8898	136	24	these	these	DET
ajfa-8898	136	25	factors	factor	NOUN
ajfa-8898	136	26	(	(	PUNCT
ajfa-8898	136	27	market	market	NOUN
ajfa-8898	136	28	capitalization	capitalization	NOUN
ajfa-8898	136	29	and	and	CCONJ
ajfa-8898	136	30	book	book	NOUN
ajfa-8898	136	31	to	to	ADP
ajfa-8898	136	32	market	market	NOUN
ajfa-8898	136	33	ratio	ratio	NOUN
ajfa-8898	136	34	)	)	PUNCT
ajfa-8898	136	35	are	be	AUX
ajfa-8898	136	36	introduced	introduce	VERB
ajfa-8898	136	37	in	in	ADP
ajfa-8898	136	38	following	follow	VERB
ajfa-8898	136	39	cross	cross	ADJ
ajfa-8898	136	40	-	-	ADJ
ajfa-8898	136	41	sectional	sectional	ADJ
ajfa-8898	136	42	regression	regression	NOUN
ajfa-8898	136	43	equation	equation	NOUN
ajfa-8898	136	44	;	;	PUNCT
ajfa-8898	136	45	titititititi	titititititi	PROPN
ajfa-8898	136	46	bememcapuieir	bememcapuieir	PROPN
ajfa-8898	136	47	,	,	PUNCT
ajfa-8898	136	48	,	,	PUNCT
ajfa-8898	136	49	4,3,2,10	4,3,2,10	NUM
ajfa-8898	136	50	,	,	PUNCT
ajfa-8898	136	51	lnln	lnln	ADJ
ajfa-8898	136	52	ηϑϑϑϑϑ	ηϑϑϑϑϑ	NOUN
ajfa-8898	137	1	+	+	PROPN
ajfa-8898	137	2	+	+	ADJ
ajfa-8898	137	3	+	+	ADJ
ajfa-8898	137	4	+	+	ADJ
ajfa-8898	137	5	+	+	NOUN
ajfa-8898	137	6	=	=	SYM
ajfa-8898	137	7	(	(	PUNCT
ajfa-8898	137	8	8)	8)	NUM
ajfa-8898	137	9	table	table	NOUN
ajfa-8898	137	10	4	4	NUM
ajfa-8898	137	11	.	.	PUNCT
ajfa-8898	137	12	cross	cross	ADJ
ajfa-8898	137	13	-	-	ADJ
ajfa-8898	137	14	sectional	sectional	ADJ
ajfa-8898	137	15	regression	regression	NOUN
ajfa-8898	137	16	with	with	ADP
ajfa-8898	137	17	control	control	NOUN
ajfa-8898	137	18	variables	variable	NOUN
ajfa-8898	137	19	(	(	PUNCT
ajfa-8898	137	20	size	size	NOUN
ajfa-8898	137	21	and	and	CCONJ
ajfa-8898	137	22	value	value	NOUN
ajfa-8898	137	23	)	)	PUNCT
ajfa-8898	137	24	variable	variable	ADJ
ajfa-8898	137	25	parameter	parameter	NOUN
ajfa-8898	137	26	t	t	PROPN
ajfa-8898	137	27	-	-	PUNCT
ajfa-8898	137	28	statistic	statistic	NOUN
ajfa-8898	137	29	c	c	PROPN
ajfa-8898	137	30	-0.1058	-0.1058	PROPN
ajfa-8898	137	31	-0.4271	-0.4271	PROPN
ajfa-8898	137	32	ei	ei	ADP
ajfa-8898	137	33	0.55009	0.55009	NUM
ajfa-8898	137	34	*	*	PUNCT
ajfa-8898	137	35	*	*	PUNCT
ajfa-8898	137	36	0.55381	0.55381	NUM
ajfa-8898	137	37	ui	ui	NOUN
ajfa-8898	138	1	0.66519	0.66519	NUM
ajfa-8898	138	2	*	*	NUM
ajfa-8898	138	3	1.95668	1.95668	NUM
ajfa-8898	138	4	lnbeme	lnbeme	ADJ
ajfa-8898	138	5	0.00701	0.00701	NUM
ajfa-8898	138	6	0.16803	0.16803	NUM
ajfa-8898	138	7	lnmcap	lnmcap	NOUN
ajfa-8898	138	8	0.02441	0.02441	NUM
ajfa-8898	138	9	*	*	SYM
ajfa-8898	138	10	*	*	X
ajfa-8898	138	11	0.76829	0.76829	NUM
ajfa-8898	138	12	adjusted	adjust	VERB
ajfa-8898	138	13	r	r	NOUN
ajfa-8898	138	14	-	-	PUNCT
ajfa-8898	138	15	squared	square	VERB
ajfa-8898	138	16	0.17999	0.17999	NUM
ajfa-8898	138	17	note	note	NOUN
ajfa-8898	138	18	:	:	PUNCT
ajfa-8898	138	19	the	the	DET
ajfa-8898	138	20	sample	sample	NOUN
ajfa-8898	138	21	is	be	AUX
ajfa-8898	138	22	from	from	ADP
ajfa-8898	138	23	june	june	PROPN
ajfa-8898	138	24	2001	2001	NUM
ajfa-8898	138	25	to	to	ADP
ajfa-8898	138	26	march	march	PROPN
ajfa-8898	138	27	2012	2012	NUM
ajfa-8898	138	28	.	.	PUNCT
ajfa-8898	139	1	at	at	ADP
ajfa-8898	139	2	each	each	DET
ajfa-8898	139	3	month	month	NOUN
ajfa-8898	139	4	,	,	PUNCT
ajfa-8898	139	5	the	the	DET
ajfa-8898	139	6	cross	cross	NOUN
ajfa-8898	139	7	-	-	NOUN
ajfa-8898	139	8	section	section	NOUN
ajfa-8898	139	9	of	of	ADP
ajfa-8898	139	10	returns	return	NOUN
ajfa-8898	139	11	is	be	AUX
ajfa-8898	139	12	regressed	regress	VERB
ajfa-8898	139	13	on	on	ADP
ajfa-8898	139	14	ei	ei	NOUN
ajfa-8898	139	15	after	after	ADP
ajfa-8898	139	16	controlling	control	VERB
ajfa-8898	139	17	for	for	ADP
ajfa-8898	139	18	ui	ui	NOUN
ajfa-8898	139	19	,	,	PUNCT
ajfa-8898	139	20	market	market	NOUN
ajfa-8898	139	21	capitalization	capitalization	NOUN
ajfa-8898	139	22	and	and	CCONJ
ajfa-8898	139	23	book	book	NOUN
ajfa-8898	139	24	to	to	ADP
ajfa-8898	139	25	market	market	NOUN
ajfa-8898	139	26	ratio	ratio	NOUN
ajfa-8898	139	27	of	of	ADP
ajfa-8898	139	28	273	273	NUM
ajfa-8898	139	29	sample	sample	NOUN
ajfa-8898	139	30	firms	firm	NOUN
ajfa-8898	139	31	of	of	ADP
ajfa-8898	139	32	bse	bse	PROPN
ajfa-8898	139	33	500	500	NUM
ajfa-8898	139	34	.	.	PUNCT
ajfa-8898	140	1	the	the	DET
ajfa-8898	140	2	table	table	NOUN
ajfa-8898	140	3	reports	report	VERB
ajfa-8898	140	4	the	the	DET
ajfa-8898	140	5	time	time	NOUN
ajfa-8898	140	6	-	-	PUNCT
ajfa-8898	140	7	series	series	NOUN
ajfa-8898	140	8	average	average	NOUN
ajfa-8898	140	9	of	of	ADP
ajfa-8898	140	10	parameters	parameter	NOUN
ajfa-8898	140	11	and	and	CCONJ
ajfa-8898	140	12	the	the	DET
ajfa-8898	140	13	newey	newey	NOUN
ajfa-8898	140	14	-	-	PUNCT
ajfa-8898	140	15	west	west	PROPN
ajfa-8898	140	16	(	(	PUNCT
ajfa-8898	140	17	1987	1987	NUM
ajfa-8898	140	18	)	)	PUNCT
ajfa-8898	140	19	adjusted	adjust	VERB
ajfa-8898	140	20	t	t	PROPN
ajfa-8898	140	21	-	-	PUNCT
ajfa-8898	140	22	statistics	statistic	NOUN
ajfa-8898	140	23	.	.	PUNCT
ajfa-8898	141	1	the	the	DET
ajfa-8898	141	2	adjusted	adjust	VERB
ajfa-8898	141	3	r2	r2	NOUN
ajfa-8898	141	4	value	value	NOUN
ajfa-8898	141	5	is	be	AUX
ajfa-8898	141	6	also	also	ADV
ajfa-8898	141	7	reported	report	VERB
ajfa-8898	141	8	.	.	PUNCT
ajfa-8898	142	1	*	*	PUNCT
ajfa-8898	142	2	represent	represent	VERB
ajfa-8898	142	3	significant	significant	ADJ
ajfa-8898	142	4	at	at	ADP
ajfa-8898	142	5	1	1	NUM
ajfa-8898	142	6	%	%	NOUN
ajfa-8898	142	7	level	level	NOUN
ajfa-8898	142	8	of	of	ADP
ajfa-8898	142	9	significance	significance	NOUN
ajfa-8898	142	10	and	and	CCONJ
ajfa-8898	142	11	*	*	NOUN
ajfa-8898	142	12	*	*	NOUN
ajfa-8898	142	13	for	for	ADP
ajfa-8898	142	14	5	5	NUM
ajfa-8898	142	15	%	%	NOUN
ajfa-8898	142	16	level	level	NOUN
ajfa-8898	142	17	of	of	ADP
ajfa-8898	142	18	significance	significance	NOUN
ajfa-8898	142	19	.	.	PUNCT
ajfa-8898	143	1	table	table	NOUN
ajfa-8898	143	2	4	4	NUM
ajfa-8898	143	3	reports	report	NOUN
ajfa-8898	143	4	the	the	DET
ajfa-8898	143	5	mean	mean	NOUN
ajfa-8898	143	6	of	of	ADP
ajfa-8898	143	7	parameters	parameter	NOUN
ajfa-8898	143	8	and	and	CCONJ
ajfa-8898	143	9	newey	newey	PROPN
ajfa-8898	143	10	west	west	PROPN
ajfa-8898	143	11	(	(	PUNCT
ajfa-8898	143	12	1987	1987	NUM
ajfa-8898	143	13	)	)	PUNCT
ajfa-8898	143	14	t	t	PROPN
ajfa-8898	143	15	-	-	PUNCT
ajfa-8898	143	16	statistics	statistic	NOUN
ajfa-8898	143	17	of	of	ADP
ajfa-8898	143	18	the	the	DET
ajfa-8898	143	19	cross	cross	ADJ
ajfa-8898	143	20	-	-	ADJ
ajfa-8898	143	21	sectional	sectional	ADJ
ajfa-8898	143	22	regression	regression	NOUN
ajfa-8898	143	23	of	of	ADP
ajfa-8898	143	24	returns	return	NOUN
ajfa-8898	143	25	on	on	ADP
ajfa-8898	143	26	ei	ei	NOUN
ajfa-8898	143	27	,	,	PUNCT
ajfa-8898	143	28	after	after	ADP
ajfa-8898	143	29	controlling	control	VERB
ajfa-8898	143	30	for	for	ADP
ajfa-8898	143	31	ui	ui	NOUN
ajfa-8898	143	32	,	,	PUNCT
ajfa-8898	143	33	market	market	NOUN
ajfa-8898	143	34	capitalization	capitalization	NOUN
ajfa-8898	143	35	and	and	CCONJ
ajfa-8898	143	36	book	book	NOUN
ajfa-8898	143	37	to	to	PART
ajfa-8898	143	38	market	market	NOUN
ajfa-8898	143	39	equity	equity	NOUN
ajfa-8898	143	40	ratio	ratio	NOUN
ajfa-8898	143	41	.	.	PUNCT
ajfa-8898	144	1	the	the	DET
ajfa-8898	144	2	parameter	parameter	NOUN
ajfa-8898	144	3	of	of	ADP
ajfa-8898	144	4	ei	ei	PROPN
ajfa-8898	144	5	is	be	AUX
ajfa-8898	144	6	0.55	0.55	NUM
ajfa-8898	144	7	,	,	PUNCT
ajfa-8898	144	8	which	which	PRON
ajfa-8898	144	9	is	be	AUX
ajfa-8898	144	10	significantly	significantly	ADV
ajfa-8898	144	11	higher	high	ADJ
ajfa-8898	144	12	than	than	ADP
ajfa-8898	144	13	the	the	DET
ajfa-8898	144	14	parameter	parameter	NOUN
ajfa-8898	144	15	(	(	PUNCT
ajfa-8898	144	16	0.24	0.24	NUM
ajfa-8898	144	17	)	)	PUNCT
ajfa-8898	144	18	reported	report	VERB
ajfa-8898	144	19	in	in	ADP
ajfa-8898	144	20	model	model	NOUN
ajfa-8898	144	21	4	4	NUM
ajfa-8898	144	22	of	of	ADP
ajfa-8898	144	23	table	table	NOUN
ajfa-8898	144	24	3	3	NUM
ajfa-8898	144	25	,	,	PUNCT
ajfa-8898	144	26	where	where	SCONJ
ajfa-8898	144	27	no	no	DET
ajfa-8898	144	28	control	control	NOUN
ajfa-8898	144	29	were	be	AUX
ajfa-8898	144	30	imposed	impose	VERB
ajfa-8898	144	31	on	on	ADP
ajfa-8898	144	32	the	the	DET
ajfa-8898	144	33	relationship	relationship	NOUN
ajfa-8898	144	34	between	between	ADP
ajfa-8898	144	35	returns	return	NOUN
ajfa-8898	144	36	and	and	CCONJ
ajfa-8898	144	37	ei	ei	NOUN
ajfa-8898	144	38	except	except	SCONJ
ajfa-8898	144	39	ui	ui	PROPN
ajfa-8898	144	40	.	.	PUNCT
ajfa-8898	145	1	after	after	ADP
ajfa-8898	145	2	controlling	control	VERB
ajfa-8898	145	3	for	for	ADP
ajfa-8898	145	4	ui	ui	NOUN
ajfa-8898	145	5	along	along	ADP
ajfa-8898	145	6	with	with	ADP
ajfa-8898	145	7	market	market	NOUN
ajfa-8898	145	8	capitalization	capitalization	NOUN
ajfa-8898	145	9	and	and	CCONJ
ajfa-8898	145	10	book	book	NOUN
ajfa-8898	145	11	to	to	ADP
ajfa-8898	145	12	market	market	NOUN
ajfa-8898	145	13	ratio	ratio	NOUN
ajfa-8898	145	14	,	,	PUNCT
ajfa-8898	145	15	the	the	DET
ajfa-8898	145	16	explanatory	explanatory	ADJ
ajfa-8898	145	17	power	power	NOUN
ajfa-8898	145	18	of	of	ADP
ajfa-8898	145	19	ei	ei	NOUN
ajfa-8898	145	20	has	have	AUX
ajfa-8898	145	21	significantly	significantly	ADV
ajfa-8898	145	22	improved	improve	VERB
ajfa-8898	145	23	.	.	PUNCT
ajfa-8898	146	1	the	the	DET
ajfa-8898	146	2	parameter	parameter	NOUN
ajfa-8898	146	3	is	be	AUX
ajfa-8898	146	4	statistically	statistically	ADV
ajfa-8898	146	5	significant	significant	ADJ
ajfa-8898	146	6	at	at	ADP
ajfa-8898	146	7	5	5	NUM
ajfa-8898	146	8	%	%	NOUN
ajfa-8898	146	9	level	level	NOUN
ajfa-8898	146	10	of	of	ADP
ajfa-8898	146	11	significance	significance	NOUN
ajfa-8898	146	12	level	level	NOUN
ajfa-8898	146	13	;	;	PUNCT
ajfa-8898	146	14	clearly	clearly	ADV
ajfa-8898	146	15	asian	asian	ADJ
ajfa-8898	146	16	journal	journal	NOUN
ajfa-8898	146	17	of	of	ADP
ajfa-8898	146	18	finance	finance	PROPN
ajfa-8898	146	19	&	&	CCONJ
ajfa-8898	146	20	accounting	accounting	PROPN
ajfa-8898	146	21	issn	issn	PROPN
ajfa-8898	146	22	1946	1946	NUM
ajfa-8898	146	23	-	-	PUNCT
ajfa-8898	146	24	052x	052x	PROPN
ajfa-8898	146	25	2016	2016	NUM
ajfa-8898	146	26	,	,	PUNCT
ajfa-8898	146	27	vol	vol	NOUN
ajfa-8898	146	28	.	.	PROPN
ajfa-8898	146	29	8	8	NUM
ajfa-8898	146	30	,	,	PUNCT
ajfa-8898	146	31	no	no	INTJ
ajfa-8898	146	32	.	.	NOUN
ajfa-8898	146	33	1	1	NUM
ajfa-8898	146	34	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	146	35	10	10	NUM
ajfa-8898	146	36	indicates	indicate	VERB
ajfa-8898	146	37	that	that	SCONJ
ajfa-8898	146	38	the	the	DET
ajfa-8898	146	39	ei	ei	NOUN
ajfa-8898	146	40	explain	explain	VERB
ajfa-8898	146	41	the	the	DET
ajfa-8898	146	42	cross	cross	NOUN
ajfa-8898	146	43	-	-	NOUN
ajfa-8898	146	44	section	section	NOUN
ajfa-8898	146	45	of	of	ADP
ajfa-8898	146	46	stock	stock	NOUN
ajfa-8898	146	47	returns	return	NOUN
ajfa-8898	146	48	significantly	significantly	ADV
ajfa-8898	146	49	in	in	ADP
ajfa-8898	146	50	indian	indian	ADJ
ajfa-8898	146	51	market	market	NOUN
ajfa-8898	146	52	.	.	PUNCT
ajfa-8898	147	1	these	these	DET
ajfa-8898	147	2	findings	finding	NOUN
ajfa-8898	147	3	are	be	AUX
ajfa-8898	147	4	consistent	consistent	ADJ
ajfa-8898	147	5	with	with	ADP
ajfa-8898	147	6	fu	fu	NOUN
ajfa-8898	147	7	(	(	PUNCT
ajfa-8898	147	8	2009	2009	NUM
ajfa-8898	147	9	)	)	PUNCT
ajfa-8898	147	10	and	and	CCONJ
ajfa-8898	147	11	chua	chua	PROPN
ajfa-8898	147	12	et	et	PROPN
ajfa-8898	147	13	.	.	PUNCT
ajfa-8898	148	1	al	al	PROPN
ajfa-8898	148	2	.	.	PROPN
ajfa-8898	148	3	,	,	PUNCT
ajfa-8898	148	4	(	(	PUNCT
ajfa-8898	148	5	2010	2010	NUM
ajfa-8898	148	6	)	)	PUNCT
ajfa-8898	148	7	.	.	PUNCT
ajfa-8898	149	1	4	4	X
ajfa-8898	149	2	.	.	X
ajfa-8898	149	3	conclusion	conclusion	NOUN
ajfa-8898	149	4	the	the	DET
ajfa-8898	149	5	study	study	NOUN
ajfa-8898	149	6	aims	aim	VERB
ajfa-8898	149	7	to	to	PART
ajfa-8898	149	8	examine	examine	VERB
ajfa-8898	149	9	the	the	DET
ajfa-8898	149	10	relationship	relationship	NOUN
ajfa-8898	149	11	of	of	ADP
ajfa-8898	149	12	iv	iv	NUM
ajfa-8898	149	13	and	and	CCONJ
ajfa-8898	149	14	cross	cross	NOUN
ajfa-8898	149	15	-	-	NOUN
ajfa-8898	149	16	section	section	NOUN
ajfa-8898	149	17	of	of	ADP
ajfa-8898	149	18	stock	stock	NOUN
ajfa-8898	149	19	returns	return	NOUN
ajfa-8898	149	20	in	in	ADP
ajfa-8898	149	21	indian	indian	ADJ
ajfa-8898	149	22	stock	stock	NOUN
ajfa-8898	149	23	market	market	NOUN
ajfa-8898	149	24	.	.	PUNCT
ajfa-8898	150	1	the	the	DET
ajfa-8898	150	2	existing	exist	VERB
ajfa-8898	150	3	literature	literature	NOUN
ajfa-8898	150	4	suggests	suggest	VERB
ajfa-8898	150	5	two	two	NUM
ajfa-8898	150	6	approaches	approach	NOUN
ajfa-8898	150	7	to	to	PART
ajfa-8898	150	8	investigate	investigate	VERB
ajfa-8898	150	9	the	the	DET
ajfa-8898	150	10	relationship	relationship	NOUN
ajfa-8898	150	11	between	between	ADP
ajfa-8898	150	12	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	150	13	volatility	volatility	NOUN
ajfa-8898	150	14	and	and	CCONJ
ajfa-8898	150	15	returns	return	NOUN
ajfa-8898	150	16	;	;	PUNCT
ajfa-8898	150	17	first	first	ADV
ajfa-8898	150	18	to	to	ADP
ajfa-8898	150	19	regress	regress	ADJ
ajfa-8898	150	20	stock	stock	NOUN
ajfa-8898	150	21	returns	return	NOUN
ajfa-8898	150	22	on	on	ADP
ajfa-8898	150	23	iv	iv	NOUN
ajfa-8898	150	24	and	and	CCONJ
ajfa-8898	150	25	second	second	ADJ
ajfa-8898	150	26	is	be	AUX
ajfa-8898	150	27	to	to	PART
ajfa-8898	150	28	decompose	decompose	VERB
ajfa-8898	150	29	the	the	DET
ajfa-8898	150	30	iv	iv	NOUN
ajfa-8898	150	31	into	into	ADP
ajfa-8898	150	32	expected	expect	VERB
ajfa-8898	150	33	and	and	CCONJ
ajfa-8898	150	34	unexpected	unexpected	ADJ
ajfa-8898	150	35	components	component	NOUN
ajfa-8898	150	36	and	and	CCONJ
ajfa-8898	150	37	then	then	ADV
ajfa-8898	150	38	find	find	VERB
ajfa-8898	150	39	the	the	DET
ajfa-8898	150	40	resulting	result	VERB
ajfa-8898	150	41	relationship	relationship	NOUN
ajfa-8898	150	42	.	.	PUNCT
ajfa-8898	151	1	considering	consider	VERB
ajfa-8898	151	2	the	the	DET
ajfa-8898	151	3	second	second	ADJ
ajfa-8898	151	4	approach	approach	NOUN
ajfa-8898	151	5	,	,	PUNCT
ajfa-8898	151	6	the	the	DET
ajfa-8898	151	7	iv	iv	NOUN
ajfa-8898	151	8	is	be	AUX
ajfa-8898	151	9	decomposed	decompose	VERB
ajfa-8898	151	10	into	into	ADP
ajfa-8898	151	11	ei	ei	NOUN
ajfa-8898	151	12	and	and	CCONJ
ajfa-8898	151	13	ui	ui	NOUN
ajfa-8898	151	14	,	,	PUNCT
ajfa-8898	151	15	as	as	ADP
ajfa-8898	151	16	fu	fu	NOUN
ajfa-8898	151	17	(	(	PUNCT
ajfa-8898	151	18	2009	2009	NUM
ajfa-8898	151	19	)	)	PUNCT
ajfa-8898	151	20	emphasized	emphasize	VERB
ajfa-8898	151	21	the	the	DET
ajfa-8898	151	22	use	use	NOUN
ajfa-8898	151	23	of	of	ADP
ajfa-8898	151	24	ei	ei	X
ajfa-8898	151	25	determined	determine	VERB
ajfa-8898	151	26	ex	ex	NOUN
ajfa-8898	151	27	-	-	NOUN
ajfa-8898	151	28	ante	ante	NOUN
ajfa-8898	151	29	and	and	CCONJ
ajfa-8898	151	30	not	not	PART
ajfa-8898	151	31	the	the	DET
ajfa-8898	151	32	total	total	NOUN
ajfa-8898	151	33	iv	iv	NUM
ajfa-8898	151	34	to	to	PART
ajfa-8898	151	35	examine	examine	VERB
ajfa-8898	151	36	its	its	PRON
ajfa-8898	151	37	impact	impact	NOUN
ajfa-8898	151	38	on	on	ADP
ajfa-8898	151	39	cross	cross	NOUN
ajfa-8898	151	40	-	-	NOUN
ajfa-8898	151	41	section	section	NOUN
ajfa-8898	151	42	of	of	ADP
ajfa-8898	151	43	stock	stock	NOUN
ajfa-8898	151	44	returns	return	NOUN
ajfa-8898	151	45	.	.	PUNCT
ajfa-8898	152	1	the	the	DET
ajfa-8898	152	2	findings	finding	NOUN
ajfa-8898	152	3	of	of	ADP
ajfa-8898	152	4	the	the	DET
ajfa-8898	152	5	study	study	NOUN
ajfa-8898	152	6	suggest	suggest	VERB
ajfa-8898	152	7	that	that	SCONJ
ajfa-8898	152	8	iv	iv	X
ajfa-8898	152	9	and	and	CCONJ
ajfa-8898	152	10	ei	ei	AUX
ajfa-8898	152	11	explain	explain	VERB
ajfa-8898	152	12	the	the	DET
ajfa-8898	152	13	cross	cross	NOUN
ajfa-8898	152	14	-	-	NOUN
ajfa-8898	152	15	section	section	NOUN
ajfa-8898	152	16	of	of	ADP
ajfa-8898	152	17	stock	stock	NOUN
ajfa-8898	152	18	returns	return	NOUN
ajfa-8898	152	19	significantly	significantly	ADV
ajfa-8898	152	20	in	in	ADP
ajfa-8898	152	21	indian	indian	ADJ
ajfa-8898	152	22	context	context	NOUN
ajfa-8898	152	23	.	.	PUNCT
ajfa-8898	153	1	the	the	DET
ajfa-8898	153	2	explanatory	explanatory	ADJ
ajfa-8898	153	3	power	power	NOUN
ajfa-8898	153	4	of	of	ADP
ajfa-8898	153	5	ei	ei	NOUN
ajfa-8898	153	6	does	do	AUX
ajfa-8898	153	7	n’t	not	PART
ajfa-8898	153	8	improve	improve	VERB
ajfa-8898	153	9	after	after	ADP
ajfa-8898	153	10	controlling	control	VERB
ajfa-8898	153	11	for	for	ADP
ajfa-8898	153	12	ui	ui	NOUN
ajfa-8898	153	13	,	,	PUNCT
ajfa-8898	153	14	but	but	CCONJ
ajfa-8898	153	15	when	when	SCONJ
ajfa-8898	153	16	we	we	PRON
ajfa-8898	153	17	control	control	VERB
ajfa-8898	153	18	for	for	ADP
ajfa-8898	153	19	the	the	DET
ajfa-8898	153	20	fama	fama	NOUN
ajfa-8898	153	21	french	french	NOUN
ajfa-8898	153	22	(	(	PUNCT
ajfa-8898	153	23	1992	1992	NUM
ajfa-8898	153	24	)	)	PUNCT
ajfa-8898	153	25	factors	factor	NOUN
ajfa-8898	153	26	i.e.	i.e.	X
ajfa-8898	153	27	,	,	PUNCT
ajfa-8898	153	28	market	market	NOUN
ajfa-8898	153	29	capitalization	capitalization	NOUN
ajfa-8898	153	30	and	and	CCONJ
ajfa-8898	153	31	book	book	NOUN
ajfa-8898	153	32	to	to	ADP
ajfa-8898	153	33	market	market	NOUN
ajfa-8898	153	34	equity	equity	NOUN
ajfa-8898	153	35	,	,	PUNCT
ajfa-8898	153	36	the	the	DET
ajfa-8898	153	37	explanatory	explanatory	ADJ
ajfa-8898	153	38	power	power	NOUN
ajfa-8898	153	39	of	of	ADP
ajfa-8898	153	40	ei	ei	NOUN
ajfa-8898	153	41	improves	improve	VERB
ajfa-8898	153	42	significantly	significantly	ADV
ajfa-8898	153	43	and	and	CCONJ
ajfa-8898	153	44	then	then	ADV
ajfa-8898	153	45	explains	explain	VERB
ajfa-8898	153	46	55	55	NUM
ajfa-8898	153	47	%	%	NOUN
ajfa-8898	153	48	of	of	ADP
ajfa-8898	153	49	cross	cross	ADJ
ajfa-8898	153	50	-	-	ADJ
ajfa-8898	153	51	sectional	sectional	ADJ
ajfa-8898	153	52	variation	variation	NOUN
ajfa-8898	153	53	in	in	ADP
ajfa-8898	153	54	expected	expect	VERB
ajfa-8898	153	55	stock	stock	NOUN
ajfa-8898	153	56	returns	return	NOUN
ajfa-8898	153	57	.	.	PUNCT
ajfa-8898	154	1	the	the	DET
ajfa-8898	154	2	relationship	relationship	NOUN
ajfa-8898	154	3	is	be	AUX
ajfa-8898	154	4	positive	positive	ADJ
ajfa-8898	154	5	,	,	PUNCT
ajfa-8898	154	6	indicates	indicate	VERB
ajfa-8898	154	7	that	that	SCONJ
ajfa-8898	154	8	a	a	DET
ajfa-8898	154	9	1	1	NUM
ajfa-8898	154	10	%	%	NOUN
ajfa-8898	154	11	increase	increase	NOUN
ajfa-8898	154	12	in	in	ADP
ajfa-8898	154	13	ei	ei	NOUN
ajfa-8898	154	14	will	will	AUX
ajfa-8898	154	15	lead	lead	VERB
ajfa-8898	154	16	to	to	ADP
ajfa-8898	154	17	0.55	0.55	NUM
ajfa-8898	154	18	%	%	NOUN
ajfa-8898	154	19	increase	increase	NOUN
ajfa-8898	154	20	in	in	ADP
ajfa-8898	154	21	expected	expect	VERB
ajfa-8898	154	22	stock	stock	NOUN
ajfa-8898	154	23	returns	return	NOUN
ajfa-8898	154	24	.	.	PUNCT
ajfa-8898	155	1	the	the	DET
ajfa-8898	155	2	results	result	NOUN
ajfa-8898	155	3	are	be	AUX
ajfa-8898	155	4	consistent	consistent	ADJ
ajfa-8898	155	5	with	with	ADP
ajfa-8898	155	6	the	the	DET
ajfa-8898	155	7	study	study	NOUN
ajfa-8898	155	8	of	of	ADP
ajfa-8898	155	9	spiegel	spiegel	PROPN
ajfa-8898	155	10	and	and	CCONJ
ajfa-8898	155	11	wang	wang	PROPN
ajfa-8898	155	12	(	(	PUNCT
ajfa-8898	155	13	2005	2005	NUM
ajfa-8898	155	14	)	)	PUNCT
ajfa-8898	155	15	,	,	PUNCT
ajfa-8898	155	16	fu	fu	NOUN
ajfa-8898	155	17	(	(	PUNCT
ajfa-8898	155	18	2009	2009	NUM
ajfa-8898	155	19	)	)	PUNCT
ajfa-8898	155	20	and	and	CCONJ
ajfa-8898	155	21	chua	chua	PROPN
ajfa-8898	155	22	et	et	PROPN
ajfa-8898	155	23	.	.	PUNCT
ajfa-8898	156	1	al	al	PROPN
ajfa-8898	156	2	.	.	PROPN
ajfa-8898	156	3	,	,	PUNCT
ajfa-8898	156	4	(	(	PUNCT
ajfa-8898	156	5	2010	2010	NUM
ajfa-8898	156	6	)	)	PUNCT
ajfa-8898	156	7	,	,	PUNCT
ajfa-8898	156	8	as	as	SCONJ
ajfa-8898	156	9	they	they	PRON
ajfa-8898	156	10	documented	document	VERB
ajfa-8898	156	11	a	a	DET
ajfa-8898	156	12	significant	significant	ADJ
ajfa-8898	156	13	positive	positive	ADJ
ajfa-8898	156	14	relationship	relationship	NOUN
ajfa-8898	156	15	between	between	ADP
ajfa-8898	156	16	expected	expect	VERB
ajfa-8898	156	17	returns	return	NOUN
ajfa-8898	156	18	,	,	PUNCT
ajfa-8898	156	19	ei	ei	NOUN
ajfa-8898	156	20	and	and	CCONJ
ajfa-8898	156	21	ui	ui	PROPN
ajfa-8898	156	22	.	.	PUNCT
ajfa-8898	157	1	the	the	DET
ajfa-8898	157	2	findings	finding	NOUN
ajfa-8898	157	3	do	do	AUX
ajfa-8898	157	4	n’t	not	PART
ajfa-8898	157	5	support	support	VERB
ajfa-8898	157	6	anget	anget	NOUN
ajfa-8898	157	7	.	.	PUNCT
ajfa-8898	158	1	al	al	PROPN
ajfa-8898	158	2	.	.	PROPN
ajfa-8898	158	3	,	,	PUNCT
ajfa-8898	158	4	(	(	PUNCT
ajfa-8898	158	5	2006	2006	NUM
ajfa-8898	158	6	,	,	PUNCT
ajfa-8898	158	7	2009	2009	NUM
ajfa-8898	158	8	)	)	PUNCT
ajfa-8898	158	9	and	and	CCONJ
ajfa-8898	158	10	bali	bali	NOUN
ajfa-8898	158	11	and	and	CCONJ
ajfa-8898	158	12	cakici	cakici	NOUN
ajfa-8898	158	13	(	(	PUNCT
ajfa-8898	158	14	2008)because	2008)because	NUM
ajfa-8898	158	15	the	the	DET
ajfa-8898	158	16	former	former	ADJ
ajfa-8898	158	17	have	have	AUX
ajfa-8898	158	18	documented	document	VERB
ajfa-8898	158	19	negative	negative	ADJ
ajfa-8898	158	20	relationship	relationship	NOUN
ajfa-8898	158	21	while	while	SCONJ
ajfa-8898	158	22	later	later	ADV
ajfa-8898	158	23	reported	report	VERB
ajfa-8898	158	24	no	no	DET
ajfa-8898	158	25	significant	significant	ADJ
ajfa-8898	158	26	relationship	relationship	NOUN
ajfa-8898	158	27	between	between	ADP
ajfa-8898	158	28	iv	iv	ADV
ajfa-8898	158	29	and	and	CCONJ
ajfa-8898	158	30	expected	expect	VERB
ajfa-8898	158	31	returns	return	NOUN
ajfa-8898	158	32	.	.	PUNCT
ajfa-8898	159	1	the	the	DET
ajfa-8898	159	2	study	study	NOUN
ajfa-8898	159	3	concludes	conclude	VERB
ajfa-8898	159	4	with	with	ADP
ajfa-8898	159	5	a	a	DET
ajfa-8898	159	6	note	note	NOUN
ajfa-8898	159	7	that	that	SCONJ
ajfa-8898	159	8	along	along	ADP
ajfa-8898	159	9	with	with	ADP
ajfa-8898	159	10	the	the	DET
ajfa-8898	159	11	systematic	systematic	ADJ
ajfa-8898	159	12	risk	risk	NOUN
ajfa-8898	159	13	,	,	PUNCT
ajfa-8898	159	14	the	the	DET
ajfa-8898	159	15	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	159	16	risk	risk	NOUN
ajfa-8898	159	17	should	should	AUX
ajfa-8898	159	18	also	also	ADV
ajfa-8898	159	19	be	be	AUX
ajfa-8898	159	20	considered	consider	VERB
ajfa-8898	159	21	while	while	SCONJ
ajfa-8898	159	22	determining	determine	VERB
ajfa-8898	159	23	the	the	DET
ajfa-8898	159	24	asset	asset	NOUN
ajfa-8898	159	25	prices	price	NOUN
ajfa-8898	159	26	in	in	ADP
ajfa-8898	159	27	indian	indian	ADJ
ajfa-8898	159	28	stock	stock	NOUN
ajfa-8898	159	29	market	market	NOUN
ajfa-8898	159	30	.	.	PUNCT
ajfa-8898	160	1	references	reference	NOUN
ajfa-8898	160	2	ang	ang	PROPN
ajfa-8898	160	3	,	,	PUNCT
ajfa-8898	160	4	a.	a.	PROPN
ajfa-8898	160	5	,	,	PUNCT
ajfa-8898	160	6	hodrick	hodrick	PROPN
ajfa-8898	160	7	,	,	PUNCT
ajfa-8898	160	8	r.	r.	PROPN
ajfa-8898	160	9	,	,	PUNCT
ajfa-8898	160	10	xing	xing	PROPN
ajfa-8898	160	11	,	,	PUNCT
ajfa-8898	160	12	&	&	CCONJ
ajfa-8898	160	13	y.	y.	PROPN
ajfa-8898	160	14	,	,	PUNCT
ajfa-8898	160	15	zhang	zhang	PROPN
ajfa-8898	160	16	,	,	PUNCT
ajfa-8898	160	17	x.	x.	NOUN
ajfa-8898	160	18	(	(	PUNCT
ajfa-8898	160	19	2006	2006	NUM
ajfa-8898	160	20	)	)	PUNCT
ajfa-8898	160	21	.	.	PUNCT
ajfa-8898	161	1	the	the	DET
ajfa-8898	161	2	cross	cross	NOUN
ajfa-8898	161	3	-	-	NOUN
ajfa-8898	161	4	section	section	NOUN
ajfa-8898	161	5	of	of	ADP
ajfa-8898	161	6	volatility	volatility	NOUN
ajfa-8898	161	7	and	and	CCONJ
ajfa-8898	161	8	expected	expect	VERB
ajfa-8898	161	9	returns	return	NOUN
ajfa-8898	161	10	.	.	PUNCT
ajfa-8898	162	1	journal	journal	NOUN
ajfa-8898	162	2	of	of	ADP
ajfa-8898	162	3	finance	finance	NOUN
ajfa-8898	162	4	,	,	PUNCT
ajfa-8898	162	5	61	61	NUM
ajfa-8898	162	6	,	,	PUNCT
ajfa-8898	162	7	259–299	259–299	NUM
ajfa-8898	162	8	.	.	PUNCT
ajfa-8898	163	1	http://dx.doi.org/10.1111/j.1540-6261.2006.00836.x	http://dx.doi.org/10.1111/j.1540-6261.2006.00836.x	PROPN
ajfa-8898	163	2	ang	ang	PROPN
ajfa-8898	163	3	,	,	PUNCT
ajfa-8898	163	4	a.	a.	PROPN
ajfa-8898	163	5	,	,	PUNCT
ajfa-8898	163	6	hodrick	hodrick	PROPN
ajfa-8898	163	7	,	,	PUNCT
ajfa-8898	163	8	r.j	r.j	PROPN
ajfa-8898	163	9	.	.	PROPN
ajfa-8898	163	10	,	,	PUNCT
ajfa-8898	163	11	xing	xing	PROPN
ajfa-8898	163	12	,	,	PUNCT
ajfa-8898	163	13	y.	y.	PROPN
ajfa-8898	163	14	,	,	PUNCT
ajfa-8898	163	15	&	&	CCONJ
ajfa-8898	163	16	zhang	zhang	PROPN
ajfa-8898	163	17	,	,	PUNCT
ajfa-8898	163	18	x.	x.	PROPN
ajfa-8898	163	19	(	(	PUNCT
ajfa-8898	163	20	2009	2009	NUM
ajfa-8898	163	21	)	)	PUNCT
ajfa-8898	163	22	.	.	PUNCT
ajfa-8898	164	1	high	high	ADJ
ajfa-8898	164	2	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	164	3	volatility	volatility	NOUN
ajfa-8898	164	4	and	and	CCONJ
ajfa-8898	164	5	low	low	ADJ
ajfa-8898	164	6	returns	return	NOUN
ajfa-8898	164	7	:	:	PUNCT
ajfa-8898	164	8	international	international	ADJ
ajfa-8898	164	9	and	and	CCONJ
ajfa-8898	164	10	further	further	ADJ
ajfa-8898	164	11	u.s	u.s	PROPN
ajfa-8898	164	12	evidence	evidence	NOUN
ajfa-8898	164	13	.	.	PUNCT
ajfa-8898	165	1	journal	journal	NOUN
ajfa-8898	165	2	of	of	ADP
ajfa-8898	165	3	financial	financial	ADJ
ajfa-8898	165	4	economics	economic	NOUN
ajfa-8898	165	5	,	,	PUNCT
ajfa-8898	165	6	91	91	NUM
ajfa-8898	165	7	,	,	PUNCT
ajfa-8898	165	8	pp	pp	ADV
ajfa-8898	165	9	1	1	NUM
ajfa-8898	165	10	-	-	SYM
ajfa-8898	165	11	23	23	NUM
ajfa-8898	165	12	.	.	PUNCT
ajfa-8898	166	1	http://dx.doi.org/10.1016/j.jfineco.2007.12.005	http://dx.doi.org/10.1016/j.jfineco.2007.12.005	PROPN
ajfa-8898	166	2	bali	bali	PROPN
ajfa-8898	166	3	,	,	PUNCT
ajfa-8898	166	4	t.	t.	PROPN
ajfa-8898	166	5	,	,	PUNCT
ajfa-8898	166	6	&	&	CCONJ
ajfa-8898	166	7	cakici	cakici	NOUN
ajfa-8898	166	8	,	,	PUNCT
ajfa-8898	166	9	n.	n.	NOUN
ajfa-8898	166	10	(	(	PUNCT
ajfa-8898	166	11	2008	2008	NUM
ajfa-8898	166	12	)	)	PUNCT
ajfa-8898	166	13	.	.	PUNCT
ajfa-8898	167	1	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	167	2	volatility	volatility	NOUN
ajfa-8898	167	3	and	and	CCONJ
ajfa-8898	167	4	the	the	DET
ajfa-8898	167	5	cross	cross	NOUN
ajfa-8898	167	6	-	-	NOUN
ajfa-8898	167	7	section	section	NOUN
ajfa-8898	167	8	of	of	ADP
ajfa-8898	167	9	expected	expect	VERB
ajfa-8898	167	10	returns	return	NOUN
ajfa-8898	167	11	?	?	PUNCT
ajfa-8898	167	12	.	.	PUNCT
ajfa-8898	168	1	journal	journal	PROPN
ajfa-8898	168	2	of	of	ADP
ajfa-8898	168	3	financial	financial	ADJ
ajfa-8898	168	4	and	and	CCONJ
ajfa-8898	168	5	quantitative	quantitative	ADJ
ajfa-8898	168	6	analysis	analysis	NOUN
ajfa-8898	168	7	,	,	PUNCT
ajfa-8898	168	8	43	43	NUM
ajfa-8898	168	9	,	,	PUNCT
ajfa-8898	168	10	29–58	29–58	NUM
ajfa-8898	168	11	.	.	PUNCT
ajfa-8898	169	1	http://dx.doi.org/10.1017/s002210900000274x	http://dx.doi.org/10.1017/s002210900000274x	PROPN
ajfa-8898	169	2	bali	bali	PROPN
ajfa-8898	169	3	,	,	PUNCT
ajfa-8898	169	4	t.	t.	PROPN
ajfa-8898	169	5	,	,	PUNCT
ajfa-8898	169	6	cakici	cakici	NOUN
ajfa-8898	169	7	,	,	PUNCT
ajfa-8898	169	8	n.	n.	NOUN
ajfa-8898	169	9	,	,	PUNCT
ajfa-8898	169	10	yan	yan	PROPN
ajfa-8898	169	11	,	,	PUNCT
ajfa-8898	169	12	x.	x.	PROPN
ajfa-8898	169	13	,	,	PUNCT
ajfa-8898	169	14	&	&	CCONJ
ajfa-8898	169	15	zhang	zhang	PROPN
ajfa-8898	169	16	,	,	PUNCT
ajfa-8898	169	17	z.	z.	PROPN
ajfa-8898	169	18	(	(	PUNCT
ajfa-8898	169	19	2005	2005	NUM
ajfa-8898	169	20	)	)	PUNCT
ajfa-8898	169	21	.	.	PUNCT
ajfa-8898	170	1	does	do	AUX
ajfa-8898	170	2	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	170	3	risk	risk	NOUN
ajfa-8898	170	4	really	really	ADV
ajfa-8898	170	5	matter	matter	ADV
ajfa-8898	170	6	?	?	PUNCT
ajfa-8898	171	1	journal	journal	NOUN
ajfa-8898	171	2	of	of	ADP
ajfa-8898	171	3	finance	finance	NOUN
ajfa-8898	171	4	,	,	PUNCT
ajfa-8898	171	5	60	60	NUM
ajfa-8898	171	6	,	,	PUNCT
ajfa-8898	171	7	905–929	905–929	NUM
ajfa-8898	171	8	.	.	PUNCT
ajfa-8898	172	1	http://dx.doi.org/10.1111/j.1540-6261.2005.00750.x	http://dx.doi.org/10.1111/j.1540-6261.2005.00750.x	NOUN
ajfa-8898	172	2	bley	bley	PROPN
ajfa-8898	172	3	,	,	PUNCT
ajfa-8898	172	4	j.	j.	PROPN
ajfa-8898	172	5	,	,	PUNCT
ajfa-8898	172	6	saad	saad	PROPN
ajfa-8898	172	7	,	,	PUNCT
ajfa-8898	172	8	m.	m.	NOUN
ajfa-8898	172	9	(	(	PUNCT
ajfa-8898	172	10	2012	2012	NUM
ajfa-8898	172	11	)	)	PUNCT
ajfa-8898	172	12	.	.	PUNCT
ajfa-8898	173	1	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	173	2	risk	risk	NOUN
ajfa-8898	173	3	and	and	CCONJ
ajfa-8898	173	4	expected	expect	VERB
ajfa-8898	173	5	returns	return	NOUN
ajfa-8898	173	6	in	in	ADP
ajfa-8898	173	7	frontier	frontier	NOUN
ajfa-8898	173	8	markets	market	NOUN
ajfa-8898	173	9	:	:	PUNCT
ajfa-8898	173	10	evidence	evidence	NOUN
ajfa-8898	173	11	from	from	ADP
ajfa-8898	173	12	gcc	gcc	NOUN
ajfa-8898	173	13	.	.	PUNCT
ajfa-8898	174	1	journal	journal	PROPN
ajfa-8898	174	2	of	of	ADP
ajfa-8898	174	3	international	international	ADJ
ajfa-8898	174	4	financial	financial	ADJ
ajfa-8898	174	5	markets	market	NOUN
ajfa-8898	174	6	,	,	PUNCT
ajfa-8898	174	7	institutions	institution	NOUN
ajfa-8898	174	8	&	&	CCONJ
ajfa-8898	174	9	money	money	NOUN
ajfa-8898	174	10	,	,	PUNCT
ajfa-8898	174	11	22	22	NUM
ajfa-8898	174	12	,	,	PUNCT
ajfa-8898	174	13	538	538	NUM
ajfa-8898	174	14	–	–	PUNCT
ajfa-8898	174	15	554	554	NUM
ajfa-8898	174	16	.	.	PUNCT
ajfa-8898	175	1	http://dx.doi.org/10.1016/j.intfin.2012.01.004	http://dx.doi.org/10.1016/j.intfin.2012.01.004	PROPN
ajfa-8898	175	2	asian	asian	ADJ
ajfa-8898	175	3	journal	journal	NOUN
ajfa-8898	175	4	of	of	ADP
ajfa-8898	175	5	finance	finance	PROPN
ajfa-8898	175	6	&	&	CCONJ
ajfa-8898	175	7	accounting	accounting	PROPN
ajfa-8898	175	8	issn	issn	PROPN
ajfa-8898	175	9	1946	1946	NUM
ajfa-8898	175	10	-	-	PUNCT
ajfa-8898	175	11	052x	052x	PROPN
ajfa-8898	175	12	2016	2016	NUM
ajfa-8898	175	13	,	,	PUNCT
ajfa-8898	175	14	vol	vol	NOUN
ajfa-8898	175	15	.	.	PROPN
ajfa-8898	175	16	8	8	NUM
ajfa-8898	175	17	,	,	PUNCT
ajfa-8898	175	18	no	no	INTJ
ajfa-8898	175	19	.	.	NOUN
ajfa-8898	175	20	1	1	NUM
ajfa-8898	175	21	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	175	22	11	11	NUM
ajfa-8898	175	23	boehme	boehme	NOUN
ajfa-8898	175	24	,	,	PUNCT
ajfa-8898	175	25	r.	r.	PROPN
ajfa-8898	175	26	,	,	PUNCT
ajfa-8898	175	27	danielsen	danielsen	PROPN
ajfa-8898	175	28	,	,	PUNCT
ajfa-8898	175	29	b.	b.	PROPN
ajfa-8898	175	30	,	,	PUNCT
ajfa-8898	175	31	kumar	kumar	PROPN
ajfa-8898	175	32	,	,	PUNCT
ajfa-8898	175	33	p.	p.	PROPN
ajfa-8898	175	34	,	,	PUNCT
ajfa-8898	175	35	&	&	CCONJ
ajfa-8898	175	36	sorescu	sorescu	PROPN
ajfa-8898	175	37	,	,	PUNCT
ajfa-8898	175	38	s.(2009	s.(2009	PROPN
ajfa-8898	175	39	)	)	PUNCT
ajfa-8898	175	40	.	.	PUNCT
ajfa-8898	176	1	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	176	2	risk	risk	NOUN
ajfa-8898	176	3	and	and	CCONJ
ajfa-8898	176	4	the	the	DET
ajfa-8898	176	5	cross	cross	NOUN
ajfa-8898	176	6	section	section	NOUN
ajfa-8898	176	7	of	of	ADP
ajfa-8898	176	8	stock	stock	NOUN
ajfa-8898	176	9	returns	return	NOUN
ajfa-8898	176	10	:	:	PUNCT
ajfa-8898	176	11	merton	merton	X
ajfa-8898	176	12	(	(	PUNCT
ajfa-8898	176	13	1987	1987	NUM
ajfa-8898	176	14	)	)	PUNCT
ajfa-8898	176	15	meets	meet	VERB
ajfa-8898	176	16	miller	miller	NOUN
ajfa-8898	176	17	(	(	PUNCT
ajfa-8898	176	18	1977	1977	NUM
ajfa-8898	176	19	)	)	PUNCT
ajfa-8898	176	20	.	.	PUNCT
ajfa-8898	177	1	journal	journal	PROPN
ajfa-8898	177	2	of	of	ADP
ajfa-8898	177	3	financial	financial	ADJ
ajfa-8898	177	4	markets	market	NOUN
ajfa-8898	177	5	,	,	PUNCT
ajfa-8898	177	6	12	12	NUM
ajfa-8898	177	7	,	,	PUNCT
ajfa-8898	177	8	438–468	438–468	NUM
ajfa-8898	177	9	.	.	PUNCT
ajfa-8898	178	1	http://dx.doi.org/10.1016/j.finmar.2009.01.004	http://dx.doi.org/10.1016/j.finmar.2009.01.004	PROPN
ajfa-8898	178	2	campbell	campbell	PROPN
ajfa-8898	178	3	,	,	PUNCT
ajfa-8898	178	4	j.	j.	PROPN
ajfa-8898	178	5	,	,	PUNCT
ajfa-8898	178	6	lettau	lettau	PROPN
ajfa-8898	178	7	,	,	PUNCT
ajfa-8898	178	8	m.	m.	NOUN
ajfa-8898	178	9	,	,	PUNCT
ajfa-8898	178	10	malkiel	malkiel	PROPN
ajfa-8898	178	11	,	,	PUNCT
ajfa-8898	178	12	b.	b.	PROPN
ajfa-8898	178	13	,	,	PUNCT
ajfa-8898	178	14	&	&	CCONJ
ajfa-8898	178	15	xu	xu	PROPN
ajfa-8898	178	16	,	,	PUNCT
ajfa-8898	178	17	y.	y.	PROPN
ajfa-8898	178	18	(	(	PUNCT
ajfa-8898	178	19	2001	2001	NUM
ajfa-8898	178	20	)	)	PUNCT
ajfa-8898	178	21	.	.	PUNCT
ajfa-8898	179	1	have	have	VERB
ajfa-8898	179	2	individual	individual	ADJ
ajfa-8898	179	3	stocks	stock	NOUN
ajfa-8898	179	4	become	become	VERB
ajfa-8898	179	5	more	more	ADV
ajfa-8898	179	6	volatile	volatile	ADJ
ajfa-8898	179	7	?	?	PUNCT
ajfa-8898	180	1	an	an	DET
ajfa-8898	180	2	empirical	empirical	ADJ
ajfa-8898	180	3	exploration	exploration	NOUN
ajfa-8898	180	4	of	of	ADP
ajfa-8898	180	5	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	180	6	risk	risk	NOUN
ajfa-8898	180	7	.	.	PUNCT
ajfa-8898	181	1	journal	journal	NOUN
ajfa-8898	181	2	of	of	ADP
ajfa-8898	181	3	finance	finance	NOUN
ajfa-8898	181	4	,	,	PUNCT
ajfa-8898	181	5	56	56	NUM
ajfa-8898	181	6	,	,	PUNCT
ajfa-8898	181	7	1–43	1–43	PROPN
ajfa-8898	181	8	.	.	PUNCT
ajfa-8898	182	1	http://dx.doi.org/10.1111/0022-1082.00318	http://dx.doi.org/10.1111/0022-1082.00318	PROPN
ajfa-8898	182	2	chua	chua	PROPN
ajfa-8898	182	3	,	,	PUNCT
ajfa-8898	182	4	c.	c.	PROPN
ajfa-8898	182	5	,	,	PUNCT
ajfa-8898	182	6	goh	goh	PROPN
ajfa-8898	182	7	,	,	PUNCT
ajfa-8898	182	8	j.	j.	PROPN
ajfa-8898	182	9	,	,	PUNCT
ajfa-8898	182	10	&	&	CCONJ
ajfa-8898	182	11	zhang	zhang	PROPN
ajfa-8898	182	12	,	,	PUNCT
ajfa-8898	182	13	z.	z.	PROPN
ajfa-8898	182	14	(	(	PUNCT
ajfa-8898	182	15	2010	2010	NUM
ajfa-8898	182	16	)	)	PUNCT
ajfa-8898	182	17	.	.	PUNCT
ajfa-8898	183	1	expected	expect	VERB
ajfa-8898	183	2	volatility	volatility	NOUN
ajfa-8898	183	3	,	,	PUNCT
ajfa-8898	183	4	unexpected	unexpected	ADJ
ajfa-8898	183	5	volatility	volatility	NOUN
ajfa-8898	183	6	and	and	CCONJ
ajfa-8898	183	7	the	the	DET
ajfa-8898	183	8	cross	cross	NOUN
ajfa-8898	183	9	section	section	NOUN
ajfa-8898	183	10	of	of	ADP
ajfa-8898	183	11	stock	stock	NOUN
ajfa-8898	183	12	returns	return	NOUN
ajfa-8898	183	13	.	.	PUNCT
ajfa-8898	184	1	journal	journal	NOUN
ajfa-8898	184	2	of	of	ADP
ajfa-8898	184	3	financial	financial	ADJ
ajfa-8898	184	4	research	research	NOUN
ajfa-8898	184	5	,	,	PUNCT
ajfa-8898	184	6	33(2	33(2	NUM
ajfa-8898	184	7	)	)	PUNCT
ajfa-8898	184	8	,	,	PUNCT
ajfa-8898	184	9	103–123	103–123	NUM
ajfa-8898	184	10	.	.	PUNCT
ajfa-8898	185	1	http://dx.doi.org/10.1111/j.1475-6803.2010.01264.x	http://dx.doi.org/10.1111/j.1475-6803.2010.01264.x	ADJ
ajfa-8898	185	2	fama	fama	PROPN
ajfa-8898	185	3	,	,	PUNCT
ajfa-8898	185	4	e.	e.	PROPN
ajfa-8898	185	5	,	,	PUNCT
ajfa-8898	185	6	&	&	CCONJ
ajfa-8898	185	7	french	french	PROPN
ajfa-8898	185	8	,	,	PUNCT
ajfa-8898	185	9	k.	k.	PROPN
ajfa-8898	185	10	(	(	PUNCT
ajfa-8898	185	11	1992	1992	NUM
ajfa-8898	185	12	)	)	PUNCT
ajfa-8898	185	13	.	.	PUNCT
ajfa-8898	186	1	the	the	DET
ajfa-8898	186	2	cross	cross	NOUN
ajfa-8898	186	3	-	-	NOUN
ajfa-8898	186	4	section	section	NOUN
ajfa-8898	186	5	of	of	ADP
ajfa-8898	186	6	expected	expect	VERB
ajfa-8898	186	7	stock	stock	NOUN
ajfa-8898	186	8	returns	return	NOUN
ajfa-8898	186	9	.	.	PUNCT
ajfa-8898	187	1	journal	journal	NOUN
ajfa-8898	187	2	of	of	ADP
ajfa-8898	187	3	finance	finance	NOUN
ajfa-8898	187	4	,	,	PUNCT
ajfa-8898	187	5	48	48	NUM
ajfa-8898	187	6	,	,	PUNCT
ajfa-8898	187	7	427–465	427–465	NUM
ajfa-8898	187	8	.	.	PUNCT
ajfa-8898	188	1	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04398.x	http://dx.doi.org/10.1111/j.1540-6261.1992.tb04398.x	PROPN
ajfa-8898	188	2	fama	fama	PROPN
ajfa-8898	188	3	,	,	PUNCT
ajfa-8898	188	4	e.	e.	PROPN
ajfa-8898	188	5	,	,	PUNCT
ajfa-8898	188	6	&	&	CCONJ
ajfa-8898	188	7	french	french	PROPN
ajfa-8898	188	8	,	,	PUNCT
ajfa-8898	188	9	k.	k.	PROPN
ajfa-8898	188	10	(	(	PUNCT
ajfa-8898	188	11	1993	1993	NUM
ajfa-8898	188	12	)	)	PUNCT
ajfa-8898	188	13	.	.	PUNCT
ajfa-8898	189	1	common	common	ADJ
ajfa-8898	189	2	risk	risk	NOUN
ajfa-8898	189	3	factors	factor	NOUN
ajfa-8898	189	4	in	in	ADP
ajfa-8898	189	5	the	the	DET
ajfa-8898	189	6	returns	return	NOUN
ajfa-8898	189	7	on	on	ADP
ajfa-8898	189	8	stocks	stock	NOUN
ajfa-8898	189	9	and	and	CCONJ
ajfa-8898	189	10	bonds	bond	NOUN
ajfa-8898	189	11	.	.	PUNCT
ajfa-8898	190	1	journal	journal	NOUN
ajfa-8898	190	2	of	of	ADP
ajfa-8898	190	3	financial	financial	ADJ
ajfa-8898	190	4	economics	economic	NOUN
ajfa-8898	190	5	,	,	PUNCT
ajfa-8898	190	6	33	33	NUM
ajfa-8898	190	7	,	,	PUNCT
ajfa-8898	190	8	3–56	3–56	NUM
ajfa-8898	190	9	.	.	PUNCT
ajfa-8898	191	1	http://dx.doi.org/10.1016/0304-405x(93)90023-5	http://dx.doi.org/10.1016/0304-405x(93)90023-5	PROPN
ajfa-8898	191	2	french	french	PROPN
ajfa-8898	191	3	,	,	PUNCT
ajfa-8898	191	4	k.	k.	PROPN
ajfa-8898	191	5	,	,	PUNCT
ajfa-8898	191	6	schwert	schwert	PROPN
ajfa-8898	191	7	,	,	PUNCT
ajfa-8898	191	8	g.	g.	PROPN
ajfa-8898	191	9	,	,	PUNCT
ajfa-8898	191	10	&	&	CCONJ
ajfa-8898	191	11	stambaugh	stambaugh	PROPN
ajfa-8898	191	12	,	,	PUNCT
ajfa-8898	191	13	r.	r.	PROPN
ajfa-8898	191	14	(	(	PUNCT
ajfa-8898	191	15	1987	1987	NUM
ajfa-8898	191	16	)	)	PUNCT
ajfa-8898	191	17	.	.	PUNCT
ajfa-8898	192	1	expected	expect	VERB
ajfa-8898	192	2	stock	stock	NOUN
ajfa-8898	192	3	returns	return	NOUN
ajfa-8898	192	4	and	and	CCONJ
ajfa-8898	192	5	volatility	volatility	NOUN
ajfa-8898	192	6	.	.	PUNCT
ajfa-8898	193	1	journal	journal	NOUN
ajfa-8898	193	2	of	of	ADP
ajfa-8898	193	3	financial	financial	ADJ
ajfa-8898	193	4	economics	economic	NOUN
ajfa-8898	193	5	,	,	PUNCT
ajfa-8898	193	6	19	19	NUM
ajfa-8898	193	7	,	,	PUNCT
ajfa-8898	193	8	3–29	3–29	PROPN
ajfa-8898	193	9	.	.	PUNCT
ajfa-8898	194	1	http://dx.doi.org/10.1016/0304-405x(87)90026-2	http://dx.doi.org/10.1016/0304-405x(87)90026-2	PROPN
ajfa-8898	194	2	fu	fu	PROPN
ajfa-8898	194	3	,	,	PUNCT
ajfa-8898	194	4	f.(2009	f.(2009	PROPN
ajfa-8898	194	5	)	)	PUNCT
ajfa-8898	194	6	.	.	PUNCT
ajfa-8898	195	1	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	195	2	risk	risk	NOUN
ajfa-8898	195	3	and	and	CCONJ
ajfa-8898	195	4	the	the	DET
ajfa-8898	195	5	cross	cross	NOUN
ajfa-8898	195	6	-	-	NOUN
ajfa-8898	195	7	section	section	NOUN
ajfa-8898	195	8	of	of	ADP
ajfa-8898	195	9	expected	expect	VERB
ajfa-8898	195	10	stock	stock	NOUN
ajfa-8898	195	11	returns.journal	returns.journal	PROPN
ajfa-8898	195	12	of	of	ADP
ajfa-8898	195	13	financial	financial	ADJ
ajfa-8898	195	14	economics	economic	NOUN
ajfa-8898	195	15	,	,	PUNCT
ajfa-8898	195	16	vol	vol	NOUN
ajfa-8898	195	17	.	.	PROPN
ajfa-8898	195	18	91	91	NUM
ajfa-8898	195	19	,	,	PUNCT
ajfa-8898	195	20	pp	pp	ADJ
ajfa-8898	195	21	.	.	PUNCT
ajfa-8898	196	1	24.37	24.37	NUM
ajfa-8898	196	2	.	.	PUNCT
ajfa-8898	197	1	http://dx.doi.org/10.1016/j.jfineco.2008.02.003	http://dx.doi.org/10.1016/j.jfineco.2008.02.003	PROPN
ajfa-8898	197	2	goyal	goyal	PROPN
ajfa-8898	197	3	,	,	PUNCT
ajfa-8898	197	4	a.	a.	PROPN
ajfa-8898	197	5	,	,	PUNCT
ajfa-8898	197	6	&	&	CCONJ
ajfa-8898	197	7	santa	santa	PROPN
ajfa-8898	197	8	-	-	PUNCT
ajfa-8898	197	9	clara	clara	PROPN
ajfa-8898	197	10	,	,	PUNCT
ajfa-8898	197	11	p.(2003	p.(2003	NOUN
ajfa-8898	197	12	)	)	PUNCT
ajfa-8898	197	13	.	.	PUNCT
ajfa-8898	198	1	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	198	2	risk	risk	NOUN
ajfa-8898	198	3	matters	matter	NOUN
ajfa-8898	198	4	!	!	PUNCT
ajfa-8898	198	5	.	.	PUNCT
ajfa-8898	199	1	journal	journal	PROPN
ajfa-8898	199	2	of	of	ADP
ajfa-8898	199	3	finance	finance	NOUN
ajfa-8898	199	4	,	,	PUNCT
ajfa-8898	199	5	58	58	NUM
ajfa-8898	199	6	,	,	PUNCT
ajfa-8898	199	7	975.1007	975.1007	NUM
ajfa-8898	199	8	.	.	PUNCT
ajfa-8898	200	1	http://dx.doi.org/10.1111/1540-6261.00555	http://dx.doi.org/10.1111/1540-6261.00555	NOUN
ajfa-8898	200	2	guo	guo	X
ajfa-8898	200	3	,	,	PUNCT
ajfa-8898	200	4	h.	h.	PROPN
ajfa-8898	200	5	,	,	PUNCT
ajfa-8898	200	6	&	&	CCONJ
ajfa-8898	200	7	savickas	savickas	PROPN
ajfa-8898	200	8	,	,	PUNCT
ajfa-8898	200	9	r.	r.	PROPN
ajfa-8898	200	10	(	(	PUNCT
ajfa-8898	200	11	2010	2010	NUM
ajfa-8898	200	12	)	)	PUNCT
ajfa-8898	200	13	.	.	PUNCT
ajfa-8898	201	1	relation	relation	NOUN
ajfa-8898	201	2	between	between	ADP
ajfa-8898	201	3	time	time	NOUN
ajfa-8898	201	4	-	-	PUNCT
ajfa-8898	201	5	series	series	NOUN
ajfa-8898	201	6	and	and	CCONJ
ajfa-8898	201	7	cross	cross	ADJ
ajfa-8898	201	8	-	-	ADJ
ajfa-8898	201	9	sectional	sectional	ADJ
ajfa-8898	201	10	effects	effect	NOUN
ajfa-8898	201	11	of	of	ADP
ajfa-8898	201	12	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	201	13	variance	variance	NOUN
ajfa-8898	201	14	on	on	ADP
ajfa-8898	201	15	stock	stock	NOUN
ajfa-8898	201	16	returns	return	NOUN
ajfa-8898	201	17	.	.	PUNCT
ajfa-8898	202	1	journal	journal	NOUN
ajfa-8898	202	2	of	of	ADP
ajfa-8898	202	3	banking	banking	NOUN
ajfa-8898	202	4	and	and	CCONJ
ajfa-8898	202	5	finance	finance	NOUN
ajfa-8898	202	6	,	,	PUNCT
ajfa-8898	202	7	34(7	34(7	NUM
ajfa-8898	202	8	)	)	PUNCT
ajfa-8898	202	9	,	,	PUNCT
ajfa-8898	202	10	1637–1649	1637–1649	NUM
ajfa-8898	202	11	.	.	PUNCT
ajfa-8898	203	1	http://dx.doi.org/10.1016/j.jbankfin.2010.03.010	http://dx.doi.org/10.1016/j.jbankfin.2010.03.010	NOUN
ajfa-8898	203	2	jegadeesh	jegadeesh	PROPN
ajfa-8898	203	3	,	,	PUNCT
ajfa-8898	203	4	n.	n.	NOUN
ajfa-8898	203	5	,	,	PUNCT
ajfa-8898	203	6	&	&	CCONJ
ajfa-8898	203	7	titman	titman	PROPN
ajfa-8898	203	8	,	,	PUNCT
ajfa-8898	203	9	s.	s.	PROPN
ajfa-8898	203	10	(	(	PUNCT
ajfa-8898	203	11	2001	2001	NUM
ajfa-8898	203	12	)	)	PUNCT
ajfa-8898	203	13	.	.	PUNCT
ajfa-8898	204	1	profitability	profitability	NOUN
ajfa-8898	204	2	of	of	ADP
ajfa-8898	204	3	momentum	momentum	NOUN
ajfa-8898	204	4	strategies	strategy	NOUN
ajfa-8898	204	5	:	:	PUNCT
ajfa-8898	204	6	an	an	DET
ajfa-8898	204	7	evaluation	evaluation	NOUN
ajfa-8898	204	8	of	of	ADP
ajfa-8898	204	9	alternative	alternative	ADJ
ajfa-8898	204	10	explanations	explanation	NOUN
ajfa-8898	204	11	.	.	PUNCT
ajfa-8898	205	1	journal	journal	NOUN
ajfa-8898	205	2	of	of	ADP
ajfa-8898	205	3	finance	finance	NOUN
ajfa-8898	205	4	,	,	PUNCT
ajfa-8898	205	5	56	56	NUM
ajfa-8898	205	6	,	,	PUNCT
ajfa-8898	205	7	699–720	699–720	NUM
ajfa-8898	205	8	.	.	PUNCT
ajfa-8898	206	1	http://dx.doi.org/10.1111/0022-1082.00342	http://dx.doi.org/10.1111/0022-1082.00342	NOUN
ajfa-8898	206	2	lintner	lintner	NOUN
ajfa-8898	206	3	,	,	PUNCT
ajfa-8898	206	4	j.	j.	PROPN
ajfa-8898	206	5	(	(	PUNCT
ajfa-8898	206	6	1965	1965	NUM
ajfa-8898	206	7	)	)	PUNCT
ajfa-8898	206	8	.	.	PUNCT
ajfa-8898	207	1	the	the	DET
ajfa-8898	207	2	valuation	valuation	NOUN
ajfa-8898	207	3	of	of	ADP
ajfa-8898	207	4	risk	risk	NOUN
ajfa-8898	207	5	assets	asset	NOUN
ajfa-8898	207	6	and	and	CCONJ
ajfa-8898	207	7	the	the	DET
ajfa-8898	207	8	selection	selection	NOUN
ajfa-8898	207	9	of	of	ADP
ajfa-8898	207	10	risky	risky	ADJ
ajfa-8898	207	11	investments	investment	NOUN
ajfa-8898	207	12	in	in	ADP
ajfa-8898	207	13	stock	stock	NOUN
ajfa-8898	207	14	portfolios	portfolio	NOUN
ajfa-8898	207	15	and	and	CCONJ
ajfa-8898	207	16	capital	capital	NOUN
ajfa-8898	207	17	budgets	budget	NOUN
ajfa-8898	207	18	.	.	PUNCT
ajfa-8898	208	1	review	review	NOUN
ajfa-8898	208	2	of	of	ADP
ajfa-8898	208	3	economics	economic	NOUN
ajfa-8898	208	4	and	and	CCONJ
ajfa-8898	208	5	statistics	statistic	NOUN
ajfa-8898	208	6	,	,	PUNCT
ajfa-8898	208	7	47	47	NUM
ajfa-8898	208	8	,	,	PUNCT
ajfa-8898	208	9	13	13	NUM
ajfa-8898	208	10	-	-	SYM
ajfa-8898	208	11	37	37	NUM
ajfa-8898	208	12	.	.	PUNCT
ajfa-8898	209	1	http://dx.doi.org/10.2307/1924119	http://dx.doi.org/10.2307/1924119	PROPN
ajfa-8898	209	2	marcelo	marcelo	PROPN
ajfa-8898	209	3	,	,	PUNCT
ajfa-8898	209	4	j.	j.	PROPN
ajfa-8898	209	5	l.	l.	PROPN
ajfa-8898	209	6	m.	m.	PROPN
ajfa-8898	209	7	,	,	PUNCT
ajfa-8898	209	8	quirós	quirós	ADJ
ajfa-8898	209	9	,	,	PUNCT
ajfa-8898	209	10	m.	m.	NOUN
ajfa-8898	209	11	m.	m.	NOUN
ajfa-8898	209	12	m.	m.	PROPN
ajfa-8898	209	13	,	,	PUNCT
ajfa-8898	209	14	&	&	CCONJ
ajfa-8898	209	15	quirós	quirós	PROPN
ajfa-8898	209	16	,	,	PUNCT
ajfa-8898	209	17	j.	j.	PROPN
ajfa-8898	209	18	l.	l.	PROPN
ajfa-8898	209	19	m.	m.	PROPN
ajfa-8898	209	20	(	(	PUNCT
ajfa-8898	209	21	2012	2012	NUM
ajfa-8898	209	22	)	)	PUNCT
ajfa-8898	209	23	.	.	PUNCT
ajfa-8898	210	1	asset	asset	NOUN
ajfa-8898	210	2	pricing	pricing	NOUN
ajfa-8898	210	3	with	with	ADP
ajfa-8898	210	4	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	210	5	risk	risk	NOUN
ajfa-8898	210	6	:	:	PUNCT
ajfa-8898	210	7	the	the	DET
ajfa-8898	210	8	spanish	spanish	ADJ
ajfa-8898	210	9	case	case	NOUN
ajfa-8898	210	10	.	.	PUNCT
ajfa-8898	211	1	international	international	ADJ
ajfa-8898	211	2	review	review	NOUN
ajfa-8898	211	3	of	of	ADP
ajfa-8898	211	4	economics	economic	NOUN
ajfa-8898	211	5	and	and	CCONJ
ajfa-8898	211	6	finance	finance	NOUN
ajfa-8898	211	7	,	,	PUNCT
ajfa-8898	211	8	21	21	NUM
ajfa-8898	211	9	,	,	PUNCT
ajfa-8898	211	10	261–271	261–271	NUM
ajfa-8898	211	11	.	.	PUNCT
ajfa-8898	212	1	http://dx.doi.org/10.1016/j.iref.2011.07.004	http://dx.doi.org/10.1016/j.iref.2011.07.004	PROPN
ajfa-8898	212	2	markowitz	markowitz	PROPN
ajfa-8898	212	3	,	,	PUNCT
ajfa-8898	212	4	h.	h.	PROPN
ajfa-8898	212	5	(	(	PUNCT
ajfa-8898	212	6	1959	1959	NUM
ajfa-8898	212	7	)	)	PUNCT
ajfa-8898	212	8	.	.	PUNCT
ajfa-8898	213	1	portfolio	portfolio	NOUN
ajfa-8898	213	2	selection	selection	NOUN
ajfa-8898	213	3	:	:	PUNCT
ajfa-8898	213	4	efficient	efficient	ADJ
ajfa-8898	213	5	diversification	diversification	NOUN
ajfa-8898	213	6	of	of	ADP
ajfa-8898	213	7	investments	investment	NOUN
ajfa-8898	213	8	.	.	PUNCT
ajfa-8898	214	1	new	new	PROPN
ajfa-8898	214	2	york	york	PROPN
ajfa-8898	214	3	:	:	PUNCT
ajfa-8898	215	1	wiley	wiley	PROPN
ajfa-8898	215	2	.	.	PUNCT
ajfa-8898	216	1	merton	merton	PROPN
ajfa-8898	216	2	,	,	PUNCT
ajfa-8898	216	3	r.	r.	PROPN
ajfa-8898	216	4	(	(	PUNCT
ajfa-8898	216	5	1987	1987	NUM
ajfa-8898	216	6	)	)	PUNCT
ajfa-8898	216	7	.	.	PUNCT
ajfa-8898	217	1	a	a	DET
ajfa-8898	217	2	simple	simple	ADJ
ajfa-8898	217	3	model	model	NOUN
ajfa-8898	217	4	of	of	ADP
ajfa-8898	217	5	capital	capital	NOUN
ajfa-8898	217	6	market	market	NOUN
ajfa-8898	217	7	equilibrium	equilibrium	NOUN
ajfa-8898	217	8	with	with	ADP
ajfa-8898	217	9	incomplete	incomplete	ADJ
ajfa-8898	217	10	information	information	NOUN
ajfa-8898	217	11	.	.	PUNCT
ajfa-8898	218	1	journal	journal	PROPN
ajfa-8898	218	2	of	of	ADP
ajfa-8898	218	3	finance	finance	NOUN
ajfa-8898	218	4	,	,	PUNCT
ajfa-8898	218	5	42	42	NUM
ajfa-8898	218	6	,	,	PUNCT
ajfa-8898	218	7	483–510	483–510	NUM
ajfa-8898	218	8	.	.	PUNCT
ajfa-8898	219	1	http://dx.doi.org/10.1111/j.1540-6261.1987.tb04565.x	http://dx.doi.org/10.1111/j.1540-6261.1987.tb04565.x	PROPN
ajfa-8898	219	2	asian	asian	PROPN
ajfa-8898	219	3	journal	journal	NOUN
ajfa-8898	219	4	of	of	ADP
ajfa-8898	219	5	finance	finance	PROPN
ajfa-8898	219	6	&	&	CCONJ
ajfa-8898	219	7	accounting	accounting	PROPN
ajfa-8898	219	8	issn	issn	PROPN
ajfa-8898	219	9	1946	1946	NUM
ajfa-8898	219	10	-	-	PUNCT
ajfa-8898	219	11	052x	052x	PROPN
ajfa-8898	219	12	2016	2016	NUM
ajfa-8898	219	13	,	,	PUNCT
ajfa-8898	219	14	vol	vol	NOUN
ajfa-8898	219	15	.	.	PROPN
ajfa-8898	219	16	8	8	NUM
ajfa-8898	219	17	,	,	PUNCT
ajfa-8898	219	18	no	no	INTJ
ajfa-8898	219	19	.	.	NOUN
ajfa-8898	219	20	1	1	NUM
ajfa-8898	219	21	ajfa.macrothink.org	ajfa.macrothink.org	ADJ
ajfa-8898	219	22	12	12	NUM
ajfa-8898	219	23	newey	newey	NOUN
ajfa-8898	219	24	,	,	PUNCT
ajfa-8898	219	25	w.k	w.k	PROPN
ajfa-8898	219	26	.	.	PROPN
ajfa-8898	219	27	,	,	PUNCT
ajfa-8898	219	28	&	&	CCONJ
ajfa-8898	219	29	west	west	PROPN
ajfa-8898	219	30	k.d	k.d	PROPN
ajfa-8898	219	31	.	.	PUNCT
ajfa-8898	219	32	(	(	PUNCT
ajfa-8898	219	33	1987	1987	NUM
ajfa-8898	219	34	)	)	PUNCT
ajfa-8898	219	35	.	.	PUNCT
ajfa-8898	220	1	a	a	DET
ajfa-8898	220	2	simple	simple	ADJ
ajfa-8898	220	3	,	,	PUNCT
ajfa-8898	220	4	positive	positive	ADJ
ajfa-8898	220	5	-	-	PUNCT
ajfa-8898	220	6	definite	definite	ADJ
ajfa-8898	220	7	,	,	PUNCT
ajfa-8898	220	8	heteroskedasticity	heteroskedasticity	NOUN
ajfa-8898	220	9	and	and	CCONJ
ajfa-8898	220	10	autocorrelation	autocorrelation	NOUN
ajfa-8898	220	11	consistent	consistent	ADJ
ajfa-8898	220	12	covariance	covariance	NOUN
ajfa-8898	220	13	matrix	matrix	NOUN
ajfa-8898	220	14	.	.	PUNCT
ajfa-8898	221	1	econometrica	econometrica	PROPN
ajfa-8898	221	2	,	,	PUNCT
ajfa-8898	221	3	55	55	NUM
ajfa-8898	221	4	,	,	PUNCT
ajfa-8898	221	5	703	703	NUM
ajfa-8898	221	6	-	-	SYM
ajfa-8898	221	7	708	708	NUM
ajfa-8898	221	8	.	.	PUNCT
ajfa-8898	222	1	http://dx.doi.org/10.2307/1913610	http://dx.doi.org/10.2307/1913610	PROPN
ajfa-8898	222	2	sharpe	sharpe	PROPN
ajfa-8898	222	3	,	,	PUNCT
ajfa-8898	222	4	w.	w.	PROPN
ajfa-8898	222	5	(	(	PUNCT
ajfa-8898	222	6	1964	1964	NUM
ajfa-8898	222	7	)	)	PUNCT
ajfa-8898	222	8	.	.	PUNCT
ajfa-8898	223	1	capital	capital	NOUN
ajfa-8898	223	2	asset	asset	NOUN
ajfa-8898	223	3	prices	price	NOUN
ajfa-8898	223	4	:	:	PUNCT
ajfa-8898	223	5	a	a	DET
ajfa-8898	223	6	theory	theory	NOUN
ajfa-8898	223	7	of	of	ADP
ajfa-8898	223	8	market	market	NOUN
ajfa-8898	223	9	equilibrium	equilibrium	NOUN
ajfa-8898	223	10	.	.	PUNCT
ajfa-8898	224	1	journal	journal	PROPN
ajfa-8898	224	2	of	of	ADP
ajfa-8898	224	3	finance	finance	NOUN
ajfa-8898	224	4	,	,	PUNCT
ajfa-8898	224	5	19	19	NUM
ajfa-8898	224	6	,	,	PUNCT
ajfa-8898	224	7	425–442	425–442	NUM
ajfa-8898	224	8	.	.	PUNCT
ajfa-8898	225	1	http://dx.doi.org/10.1111/j.1540-6261.1964.tb02865.x	http://dx.doi.org/10.1111/j.1540-6261.1964.tb02865.x	PROPN
ajfa-8898	225	2	spiegel	spiegel	PROPN
ajfa-8898	225	3	,	,	PUNCT
ajfa-8898	225	4	m.	m.	NOUN
ajfa-8898	225	5	,	,	PUNCT
ajfa-8898	225	6	&	&	CCONJ
ajfa-8898	225	7	wang	wang	PROPN
ajfa-8898	225	8	,	,	PUNCT
ajfa-8898	225	9	x.	x.	NOUN
ajfa-8898	225	10	(	(	PUNCT
ajfa-8898	225	11	2006	2006	NUM
ajfa-8898	225	12	)	)	PUNCT
ajfa-8898	225	13	.	.	PUNCT
ajfa-8898	226	1	cross	cross	ADJ
ajfa-8898	226	2	-	-	ADJ
ajfa-8898	226	3	sectional	sectional	ADJ
ajfa-8898	226	4	variation	variation	NOUN
ajfa-8898	226	5	in	in	ADP
ajfa-8898	226	6	stock	stock	NOUN
ajfa-8898	226	7	returns	return	NOUN
ajfa-8898	226	8	:	:	PUNCT
ajfa-8898	226	9	liquidity	liquidity	NOUN
ajfa-8898	226	10	and	and	CCONJ
ajfa-8898	226	11	idiosyncratic	idiosyncratic	ADJ
ajfa-8898	226	12	risk	risk	NOUN
ajfa-8898	226	13	.	.	PUNCT
ajfa-8898	227	1	unpublished	unpublished	ADJ
ajfa-8898	227	2	working	working	NOUN
ajfa-8898	227	3	paper	paper	NOUN
ajfa-8898	227	4	,	,	PUNCT
ajfa-8898	227	5	yale	yale	PROPN
ajfa-8898	227	6	university	university	PROPN
ajfa-8898	227	7	.	.	PUNCT
ajfa-8898	227	8	treynor	treynor	PROPN
ajfa-8898	227	9	,	,	PUNCT
ajfa-8898	227	10	j.	j.	PROPN
ajfa-8898	227	11	l.	l.	PROPN
ajfa-8898	227	12	(	(	PUNCT
ajfa-8898	227	13	1961	1961	NUM
ajfa-8898	227	14	)	)	PUNCT
ajfa-8898	227	15	.	.	PUNCT
ajfa-8898	228	1	toward	toward	ADP
ajfa-8898	228	2	a	a	DET
ajfa-8898	228	3	theory	theory	NOUN
ajfa-8898	228	4	of	of	ADP
ajfa-8898	228	5	market	market	NOUN
ajfa-8898	228	6	value	value	NOUN
ajfa-8898	228	7	of	of	ADP
ajfa-8898	228	8	risky	risky	ADJ
ajfa-8898	228	9	assets	asset	NOUN
ajfa-8898	228	10	.	.	PUNCT
ajfa-8898	229	1	mimeo	mimeo	NOUN
ajfa-8898	229	2	,	,	PUNCT
ajfa-8898	229	3	subsequently	subsequently	ADV
ajfa-8898	229	4	published	publish	VERB
ajfa-8898	229	5	in	in	ADP
ajfa-8898	229	6	korajczyk	korajczyk	NOUN
ajfa-8898	229	7	,	,	PUNCT
ajfa-8898	229	8	robert	robert	PROPN
ajfa-8898	229	9	a.	a.	PROPN
ajfa-8898	229	10	1999	1999	NUM
ajfa-8898	229	11	,	,	PUNCT
ajfa-8898	229	12	asset	asset	NOUN
ajfa-8898	229	13	pricing	pricing	NOUN
ajfa-8898	229	14	and	and	CCONJ
ajfa-8898	229	15	portfolios	portfolio	NOUN
ajfa-8898	229	16	performance	performance	NOUN
ajfa-8898	229	17	:	:	PUNCT
ajfa-8898	229	18	models	model	NOUN
ajfa-8898	229	19	,	,	PUNCT
ajfa-8898	229	20	strategy	strategy	NOUN
ajfa-8898	229	21	and	and	CCONJ
ajfa-8898	229	22	performance	performance	NOUN
ajfa-8898	229	23	metrics	metric	NOUN
ajfa-8898	229	24	london	london	PROPN
ajfa-8898	229	25	:	:	PUNCT
ajfa-8898	229	26	risk	risk	NOUN
ajfa-8898	229	27	books	book	NOUN
ajfa-8898	229	28	.	.	PUNCT
ajfa-8898	230	1	i	i	PRON
ajfa-8898	230	2	macroeconomic	macroeconomic	ADJ
ajfa-8898	230	3	indicators	indicator	NOUN
ajfa-8898	230	4	used	use	VERB
ajfa-8898	230	5	as	as	ADP
ajfa-8898	230	6	control	control	NOUN
ajfa-8898	230	7	variable	variable	NOUN
ajfa-8898	230	8	by	by	ADP
ajfa-8898	230	9	goyal	goyal	PROPN
ajfa-8898	230	10	and	and	CCONJ
ajfa-8898	230	11	clara	clara	PROPN
ajfa-8898	230	12	(	(	PUNCT
ajfa-8898	230	13	2003	2003	NUM
ajfa-8898	230	14	)	)	PUNCT
ajfa-8898	230	15	were	be	AUX
ajfa-8898	230	16	dividend	dividend	NOUN
ajfa-8898	230	17	price	price	NOUN
ajfa-8898	230	18	ratio	ratio	NOUN
ajfa-8898	230	19	,	,	PUNCT
ajfa-8898	230	20	three	three	NUM
ajfa-8898	230	21	-	-	PUNCT
ajfa-8898	230	22	month	month	NOUN
ajfa-8898	230	23	treasury	treasury	NOUN
ajfa-8898	230	24	bill	bill	NOUN
ajfa-8898	230	25	rate	rate	NOUN
ajfa-8898	230	26	,	,	PUNCT
ajfa-8898	230	27	term	term	NOUN
ajfa-8898	230	28	spread	spread	NOUN
ajfa-8898	230	29	and	and	CCONJ
ajfa-8898	230	30	default	default	NOUN
ajfa-8898	230	31	spread	spread	NOUN
ajfa-8898	230	32	.	.	PUNCT
ajfa-8898	231	1	ii	ii	PROPN
ajfa-8898	231	2	firm	firm	PROPN
ajfa-8898	231	3	characteristics	characteristic	NOUN
ajfa-8898	231	4	i.e.	i.e.	X
ajfa-8898	231	5	size	size	NOUN
ajfa-8898	231	6	,	,	PUNCT
ajfa-8898	231	7	value	value	NOUN
ajfa-8898	231	8	,	,	PUNCT
ajfa-8898	231	9	volume	volume	NOUN
ajfa-8898	231	10	,	,	PUNCT
ajfa-8898	231	11	liquidity	liquidity	NOUN
ajfa-8898	231	12	,	,	PUNCT
ajfa-8898	231	13	momentum	momentum	NOUN
ajfa-8898	231	14	,	,	PUNCT
ajfa-8898	231	15	analyst	analyst	NOUN
ajfa-8898	231	16	forecast	forecast	NOUN
ajfa-8898	231	17	dispersion	dispersion	NOUN
ajfa-8898	231	18	and	and	CCONJ
ajfa-8898	231	19	market	market	NOUN
ajfa-8898	231	20	conditions	condition	NOUN
ajfa-8898	231	21	.	.	PUNCT
ajfa-8898	232	1	iiithe	iiithe	PRON
ajfa-8898	232	2	factors	factor	NOUN
ajfa-8898	232	3	(	(	PUNCT
ajfa-8898	232	4	smb	smb	PROPN
ajfa-8898	232	5	,	,	PUNCT
ajfa-8898	232	6	hml	hml	PROPN
ajfa-8898	232	7	and	and	CCONJ
ajfa-8898	232	8	erm	erm	PROPN
ajfa-8898	232	9	)	)	PUNCT
ajfa-8898	232	10	were	be	AUX
ajfa-8898	232	11	calculated	calculate	VERB
ajfa-8898	232	12	using	use	VERB
ajfa-8898	232	13	the	the	DET
ajfa-8898	232	14	fama	fama	NOUN
ajfa-8898	232	15	french	french	NOUN
ajfa-8898	232	16	(	(	PUNCT
ajfa-8898	232	17	1993	1993	NUM
ajfa-8898	232	18	)	)	PUNCT
ajfa-8898	232	19	methodology	methodology	NOUN
ajfa-8898	232	20	which	which	PRON
ajfa-8898	232	21	is	be	AUX
ajfa-8898	232	22	described	describe	VERB
ajfa-8898	232	23	in	in	ADP
ajfa-8898	232	24	section	section	NOUN
ajfa-8898	232	25	2.1	2.1	NUM
ajfa-8898	232	26	of	of	ADP
ajfa-8898	232	27	the	the	DET
ajfa-8898	232	28	study	study	NOUN
ajfa-8898	232	29	.	.	PUNCT