id	sid	tid	token	lemma	pos
ajfa-997	1	1	microsoft	microsoft	PROPN
ajfa-997	1	2	word	word	PROPN
ajfa-997	1	3	seasonality_and_market	seasonality_and_market	PROPN
ajfa-997	1	4	-	-	PUNCT
ajfa-997	1	5	writer2	writer2	VERB
ajfa-997	1	6	-	-	ADJ
ajfa-997	1	7	new	new	ADJ
ajfa-997	1	8	asian	asian	ADJ
ajfa-997	1	9	journal	journal	NOUN
ajfa-997	1	10	of	of	ADP
ajfa-997	1	11	finance	finance	PROPN
ajfa-997	1	12	&	&	CCONJ
ajfa-997	1	13	accounting	accounting	PROPN
ajfa-997	1	14	issn	issn	PROPN
ajfa-997	1	15	1946	1946	NUM
ajfa-997	1	16	-	-	PUNCT
ajfa-997	1	17	052x	052x	NOUN
ajfa-997	1	18	2011	2011	NUM
ajfa-997	1	19	,	,	PUNCT
ajfa-997	1	20	vol	vol	NOUN
ajfa-997	1	21	.	.	PROPN
ajfa-997	2	1	3	3	NUM
ajfa-997	2	2	,	,	PUNCT
ajfa-997	2	3	no	no	INTJ
ajfa-997	2	4	.	.	NOUN
ajfa-997	2	5	1	1	NUM
ajfa-997	2	6	:	:	SYM
ajfa-997	2	7	e11	e11	X
ajfa-997	2	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-997	2	9	174	174	NUM
ajfa-997	2	10	seasonality	seasonality	NOUN
ajfa-997	2	11	and	and	CCONJ
ajfa-997	2	12	market	market	NOUN
ajfa-997	2	13	crashes	crash	NOUN
ajfa-997	2	14	in	in	ADP
ajfa-997	2	15	indian	indian	ADJ
ajfa-997	2	16	stock	stock	NOUN
ajfa-997	2	17	markets	market	NOUN
ajfa-997	2	18	mihir	mihir	PROPN
ajfa-997	2	19	dash1	dash1	PROPN
ajfa-997	2	20	school	school	NOUN
ajfa-997	2	21	of	of	ADP
ajfa-997	2	22	business	business	NOUN
ajfa-997	2	23	,	,	PUNCT
ajfa-997	2	24	alliance	alliance	NOUN
ajfa-997	2	25	university	university	NOUN
ajfa-997	2	26	anirban	anirban	PROPN
ajfa-997	2	27	dutta	dutta	PROPN
ajfa-997	2	28	genpact	genpact	PROPN
ajfa-997	2	29	india	india	PROPN
ajfa-997	2	30	pvt	pvt	PROPN
ajfa-997	2	31	.	.	PROPN
ajfa-997	2	32	ltd	ltd	PROPN
ajfa-997	2	33	.	.	PROPN
ajfa-997	2	34	mohit	mohit	PROPN
ajfa-997	2	35	sabharwal	sabharwal	PROPN
ajfa-997	2	36	adani	adani	PROPN
ajfa-997	2	37	wilmar	wilmar	PROPN
ajfa-997	2	38	ltd	ltd	PROPN
ajfa-997	2	39	.	.	PROPN
ajfa-997	2	40	received	receive	VERB
ajfa-997	2	41	:	:	PUNCT
ajfa-997	2	42	september	september	PROPN
ajfa-997	2	43	28	28	NUM
ajfa-997	2	44	,	,	PUNCT
ajfa-997	2	45	2011	2011	NUM
ajfa-997	2	46	accepted	accept	VERB
ajfa-997	2	47	:	:	PUNCT
ajfa-997	2	48	november	november	PROPN
ajfa-997	2	49	20	20	NUM
ajfa-997	2	50	,	,	PUNCT
ajfa-997	2	51	2011	2011	NUM
ajfa-997	2	52	published	publish	VERB
ajfa-997	2	53	:	:	PUNCT
ajfa-997	2	54	december	december	PROPN
ajfa-997	2	55	1	1	NUM
ajfa-997	2	56	,	,	PUNCT
ajfa-997	2	57	2011	2011	NUM
ajfa-997	2	58	doi:10.5296	doi:10.5296	NOUN
ajfa-997	2	59	/	/	SYM
ajfa-997	2	60	ajfa.v3i1.997	ajfa.v3i1.997	PROPN
ajfa-997	2	61	url	url	PROPN
ajfa-997	2	62	:	:	PUNCT
ajfa-997	2	63	http://dx.doi.org/10.5296/ajfa.v3i1.997	http://dx.doi.org/10.5296/ajfa.v3i1.997	NOUN
ajfa-997	2	64	abstract	abstract	NOUN
ajfa-997	2	65	the	the	DET
ajfa-997	2	66	presence	presence	NOUN
ajfa-997	2	67	of	of	ADP
ajfa-997	2	68	seasonal	seasonal	ADJ
ajfa-997	2	69	effects	effect	NOUN
ajfa-997	2	70	in	in	ADP
ajfa-997	2	71	monthly	monthly	ADJ
ajfa-997	2	72	returns	return	NOUN
ajfa-997	2	73	has	have	AUX
ajfa-997	2	74	been	be	AUX
ajfa-997	2	75	reported	report	VERB
ajfa-997	2	76	in	in	ADP
ajfa-997	2	77	several	several	ADJ
ajfa-997	2	78	developed	develop	VERB
ajfa-997	2	79	and	and	CCONJ
ajfa-997	2	80	emerging	emerge	VERB
ajfa-997	2	81	stock	stock	NOUN
ajfa-997	2	82	markets	market	NOUN
ajfa-997	2	83	.	.	PUNCT
ajfa-997	3	1	the	the	DET
ajfa-997	3	2	objective	objective	NOUN
ajfa-997	3	3	of	of	ADP
ajfa-997	3	4	this	this	DET
ajfa-997	3	5	study	study	NOUN
ajfa-997	3	6	is	be	AUX
ajfa-997	3	7	to	to	PART
ajfa-997	3	8	explore	explore	VERB
ajfa-997	3	9	the	the	DET
ajfa-997	3	10	interplay	interplay	NOUN
ajfa-997	3	11	between	between	ADP
ajfa-997	3	12	the	the	DET
ajfa-997	3	13	month	month	NOUN
ajfa-997	3	14	-	-	PUNCT
ajfa-997	3	15	of	of	ADP
ajfa-997	3	16	-	-	PUNCT
ajfa-997	3	17	the	the	DET
ajfa-997	3	18	-	-	PUNCT
ajfa-997	3	19	year	year	NOUN
ajfa-997	3	20	effect	effect	NOUN
ajfa-997	3	21	and	and	CCONJ
ajfa-997	3	22	market	market	NOUN
ajfa-997	3	23	crash	crash	NOUN
ajfa-997	3	24	effects	effect	NOUN
ajfa-997	3	25	on	on	ADP
ajfa-997	3	26	monthly	monthly	ADJ
ajfa-997	3	27	returns	return	NOUN
ajfa-997	3	28	in	in	ADP
ajfa-997	3	29	indian	indian	ADJ
ajfa-997	3	30	stock	stock	NOUN
ajfa-997	3	31	markets	market	NOUN
ajfa-997	3	32	.	.	PUNCT
ajfa-997	4	1	the	the	DET
ajfa-997	4	2	study	study	NOUN
ajfa-997	4	3	uses	use	VERB
ajfa-997	4	4	dummy	dummy	ADJ
ajfa-997	4	5	variable	variable	ADJ
ajfa-997	4	6	multiple	multiple	ADJ
ajfa-997	4	7	linear	linear	ADJ
ajfa-997	4	8	regression	regression	NOUN
ajfa-997	4	9	to	to	PART
ajfa-997	4	10	assess	assess	VERB
ajfa-997	4	11	the	the	DET
ajfa-997	4	12	seasonality	seasonality	NOUN
ajfa-997	4	13	of	of	ADP
ajfa-997	4	14	stock	stock	NOUN
ajfa-997	4	15	market	market	NOUN
ajfa-997	4	16	returns	return	NOUN
ajfa-997	4	17	and	and	CCONJ
ajfa-997	4	18	the	the	DET
ajfa-997	4	19	impact	impact	NOUN
ajfa-997	4	20	of	of	ADP
ajfa-997	4	21	market	market	NOUN
ajfa-997	4	22	crashes	crash	NOUN
ajfa-997	4	23	on	on	ADP
ajfa-997	4	24	the	the	DET
ajfa-997	4	25	same	same	ADJ
ajfa-997	4	26	.	.	PUNCT
ajfa-997	5	1	the	the	DET
ajfa-997	5	2	results	result	NOUN
ajfa-997	5	3	of	of	ADP
ajfa-997	5	4	the	the	DET
ajfa-997	5	5	study	study	NOUN
ajfa-997	5	6	provide	provide	VERB
ajfa-997	5	7	evidence	evidence	NOUN
ajfa-997	5	8	for	for	ADP
ajfa-997	5	9	a	a	DET
ajfa-997	5	10	month	month	NOUN
ajfa-997	5	11	-	-	PUNCT
ajfa-997	5	12	of	of	ADP
ajfa-997	5	13	-	-	PUNCT
ajfa-997	5	14	the	the	DET
ajfa-997	5	15	-	-	PUNCT
ajfa-997	5	16	year	year	NOUN
ajfa-997	5	17	effect	effect	NOUN
ajfa-997	5	18	in	in	ADP
ajfa-997	5	19	indian	indian	ADJ
ajfa-997	5	20	stock	stock	NOUN
ajfa-997	5	21	markets	market	NOUN
ajfa-997	5	22	,	,	PUNCT
ajfa-997	5	23	particularly	particularly	ADV
ajfa-997	5	24	positive	positive	ADJ
ajfa-997	5	25	november	november	PROPN
ajfa-997	5	26	,	,	PUNCT
ajfa-997	5	27	august	august	PROPN
ajfa-997	5	28	,	,	PUNCT
ajfa-997	5	29	and	and	CCONJ
ajfa-997	5	30	december	december	PROPN
ajfa-997	5	31	effects	effect	NOUN
ajfa-997	5	32	,	,	PUNCT
ajfa-997	5	33	and	and	CCONJ
ajfa-997	5	34	a	a	DET
ajfa-997	5	35	negative	negative	ADJ
ajfa-997	5	36	march	march	NOUN
ajfa-997	5	37	effect	effect	NOUN
ajfa-997	5	38	.	.	PUNCT
ajfa-997	6	1	further	far	ADV
ajfa-997	6	2	,	,	PUNCT
ajfa-997	6	3	the	the	DET
ajfa-997	6	4	study	study	NOUN
ajfa-997	6	5	suggests	suggest	VERB
ajfa-997	6	6	that	that	SCONJ
ajfa-997	6	7	the	the	DET
ajfa-997	6	8	incidence	incidence	NOUN
ajfa-997	6	9	of	of	ADP
ajfa-997	6	10	market	market	NOUN
ajfa-997	6	11	crashes	crash	NOUN
ajfa-997	6	12	reduces	reduce	VERB
ajfa-997	6	13	the	the	DET
ajfa-997	6	14	seasonal	seasonal	ADJ
ajfa-997	6	15	effects	effect	NOUN
ajfa-997	6	16	.	.	PUNCT
ajfa-997	7	1	keywords	keyword	NOUN
ajfa-997	7	2	:	:	PUNCT
ajfa-997	7	3	seasonality	seasonality	NOUN
ajfa-997	7	4	,	,	PUNCT
ajfa-997	7	5	stock	stock	NOUN
ajfa-997	7	6	market	market	NOUN
ajfa-997	7	7	returns	return	NOUN
ajfa-997	7	8	,	,	PUNCT
ajfa-997	7	9	month	month	NOUN
ajfa-997	7	10	-	-	PUNCT
ajfa-997	7	11	of	of	ADP
ajfa-997	7	12	-	-	PUNCT
ajfa-997	7	13	the	the	DET
ajfa-997	7	14	-	-	PUNCT
ajfa-997	7	15	year	year	NOUN
ajfa-997	7	16	effect	effect	NOUN
ajfa-997	7	17	,	,	PUNCT
ajfa-997	7	18	market	market	NOUN
ajfa-997	7	19	crash	crash	NOUN
ajfa-997	7	20	effects	effect	NOUN
ajfa-997	7	21	,	,	PUNCT
ajfa-997	7	22	dummy	dummy	ADJ
ajfa-997	7	23	variable	variable	ADJ
ajfa-997	7	24	regression	regression	NOUN
ajfa-997	7	25	.	.	PUNCT
ajfa-997	8	1	jel	jel	PROPN
ajfa-997	8	2	classification	classification	NOUN
ajfa-997	8	3	:	:	PUNCT
ajfa-997	8	4	g14	g14	PROPN
ajfa-997	8	5	1	1	NUM
ajfa-997	8	6	school	school	NOUN
ajfa-997	8	7	of	of	ADP
ajfa-997	8	8	business	business	NOUN
ajfa-997	8	9	,	,	PUNCT
ajfa-997	8	10	alliance	alliance	NOUN
ajfa-997	8	11	university	university	PROPN
ajfa-997	8	12	,	,	PUNCT
ajfa-997	8	13	chikkahagade	chikkahagade	PROPN
ajfa-997	8	14	cross	cross	PROPN
ajfa-997	8	15	,	,	PUNCT
ajfa-997	8	16	chandapura	chandapura	NOUN
ajfa-997	8	17	-	-	PUNCT
ajfa-997	8	18	anekal	anekal	ADJ
ajfa-997	8	19	main	main	ADJ
ajfa-997	8	20	road	road	NOUN
ajfa-997	8	21	,	,	PUNCT
ajfa-997	8	22	anekal	anekal	NOUN
ajfa-997	8	23	,	,	PUNCT
ajfa-997	8	24	bangalore-562106	bangalore-562106	ADV
ajfa-997	8	25	,	,	PUNCT
ajfa-997	8	26	tel	tel	ADP
ajfa-997	8	27	:	:	PUNCT
ajfa-997	8	28	+91	+91	NOUN
ajfa-997	8	29	-	-	PUNCT
ajfa-997	8	30	9945182465	9945182465	NUM
ajfa-997	8	31	,	,	PUNCT
ajfa-997	8	32	email	email	NOUN
ajfa-997	8	33	:	:	PUNCT
ajfa-997	8	34	mihirda@rediffmail.com	mihirda@rediffmail.com	PROPN
ajfa-997	8	35	asian	asian	PROPN
ajfa-997	8	36	journal	journal	PROPN
ajfa-997	8	37	of	of	ADP
ajfa-997	8	38	finance	finance	PROPN
ajfa-997	8	39	&	&	CCONJ
ajfa-997	8	40	accounting	accounting	PROPN
ajfa-997	8	41	issn	issn	PROPN
ajfa-997	8	42	1946	1946	NUM
ajfa-997	8	43	-	-	PUNCT
ajfa-997	8	44	052x	052x	NOUN
ajfa-997	8	45	2011	2011	NUM
ajfa-997	8	46	,	,	PUNCT
ajfa-997	8	47	vol	vol	NOUN
ajfa-997	8	48	.	.	PROPN
ajfa-997	9	1	3	3	NUM
ajfa-997	9	2	,	,	PUNCT
ajfa-997	9	3	no	no	INTJ
ajfa-997	9	4	.	.	NOUN
ajfa-997	9	5	1	1	NUM
ajfa-997	9	6	:	:	SYM
ajfa-997	9	7	e11	e11	X
ajfa-997	9	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-997	9	9	175	175	NUM
ajfa-997	9	10	introduction	introduction	NOUN
ajfa-997	9	11	the	the	DET
ajfa-997	9	12	efficient	efficient	ADJ
ajfa-997	9	13	market	market	NOUN
ajfa-997	9	14	hypothesis	hypothesis	NOUN
ajfa-997	9	15	(	(	PUNCT
ajfa-997	9	16	emh	emh	PROPN
ajfa-997	9	17	)	)	PUNCT
ajfa-997	9	18	asserts	assert	VERB
ajfa-997	9	19	that	that	SCONJ
ajfa-997	9	20	in	in	ADP
ajfa-997	9	21	informationally	informationally	ADV
ajfa-997	9	22	-	-	PUNCT
ajfa-997	9	23	efficient	efficient	ADJ
ajfa-997	9	24	markets	market	NOUN
ajfa-997	9	25	,	,	PUNCT
ajfa-997	9	26	the	the	DET
ajfa-997	9	27	market	market	NOUN
ajfa-997	9	28	prices	price	NOUN
ajfa-997	9	29	of	of	ADP
ajfa-997	9	30	assets	asset	NOUN
ajfa-997	9	31	should	should	AUX
ajfa-997	9	32	be	be	AUX
ajfa-997	9	33	equal	equal	ADJ
ajfa-997	9	34	to	to	ADP
ajfa-997	9	35	their	their	PRON
ajfa-997	9	36	true	true	ADJ
ajfa-997	9	37	expected	expect	VERB
ajfa-997	9	38	values	value	NOUN
ajfa-997	9	39	,	,	PUNCT
ajfa-997	9	40	reflecting	reflect	VERB
ajfa-997	9	41	all	all	DET
ajfa-997	9	42	information	information	NOUN
ajfa-997	9	43	available	available	ADJ
ajfa-997	9	44	to	to	ADP
ajfa-997	9	45	the	the	DET
ajfa-997	9	46	market	market	NOUN
ajfa-997	9	47	participants	participant	NOUN
ajfa-997	9	48	(	(	PUNCT
ajfa-997	9	49	fama	fama	NOUN
ajfa-997	9	50	,	,	PUNCT
ajfa-997	9	51	1965	1965	NUM
ajfa-997	9	52	;	;	PUNCT
ajfa-997	9	53	fama	fama	PROPN
ajfa-997	9	54	et	et	PROPN
ajfa-997	9	55	al	al	PROPN
ajfa-997	9	56	,	,	PUNCT
ajfa-997	9	57	1969	1969	NUM
ajfa-997	9	58	)	)	PUNCT
ajfa-997	9	59	.	.	PUNCT
ajfa-997	10	1	in	in	ADP
ajfa-997	10	2	particular	particular	ADJ
ajfa-997	10	3	,	,	PUNCT
ajfa-997	10	4	this	this	PRON
ajfa-997	10	5	would	would	AUX
ajfa-997	10	6	imply	imply	VERB
ajfa-997	10	7	that	that	SCONJ
ajfa-997	10	8	stock	stock	NOUN
ajfa-997	10	9	returns	return	NOUN
ajfa-997	10	10	follow	follow	VERB
ajfa-997	10	11	a	a	DET
ajfa-997	10	12	random	random	ADJ
ajfa-997	10	13	walk	walk	NOUN
ajfa-997	10	14	,	,	PUNCT
ajfa-997	10	15	unpredictable	unpredictable	ADJ
ajfa-997	10	16	,	,	PUNCT
ajfa-997	10	17	without	without	ADP
ajfa-997	10	18	pattern	pattern	NOUN
ajfa-997	10	19	.	.	PUNCT
ajfa-997	11	1	however	however	ADV
ajfa-997	11	2	,	,	PUNCT
ajfa-997	11	3	several	several	ADJ
ajfa-997	11	4	market	market	NOUN
ajfa-997	11	5	anomalies	anomaly	NOUN
ajfa-997	11	6	,	,	PUNCT
ajfa-997	11	7	contradicting	contradict	VERB
ajfa-997	11	8	the	the	DET
ajfa-997	11	9	emh	emh	NOUN
ajfa-997	11	10	,	,	PUNCT
ajfa-997	11	11	have	have	AUX
ajfa-997	11	12	been	be	AUX
ajfa-997	11	13	reported	report	VERB
ajfa-997	11	14	,	,	PUNCT
ajfa-997	11	15	such	such	ADJ
ajfa-997	11	16	as	as	ADP
ajfa-997	11	17	the	the	DET
ajfa-997	11	18	january	january	PROPN
ajfa-997	11	19	effect	effect	NOUN
ajfa-997	11	20	,	,	PUNCT
ajfa-997	11	21	the	the	DET
ajfa-997	11	22	monday	monday	PROPN
ajfa-997	11	23	effect	effect	NOUN
ajfa-997	11	24	,	,	PUNCT
ajfa-997	11	25	the	the	DET
ajfa-997	11	26	turn	turn	VERB
ajfa-997	11	27	-	-	PUNCT
ajfa-997	11	28	of	of	ADP
ajfa-997	11	29	-	-	PUNCT
ajfa-997	11	30	the	the	DET
ajfa-997	11	31	-	-	PUNCT
ajfa-997	11	32	month	month	NOUN
ajfa-997	11	33	effect	effect	NOUN
ajfa-997	11	34	,	,	PUNCT
ajfa-997	11	35	the	the	DET
ajfa-997	11	36	holiday	holiday	NOUN
ajfa-997	11	37	effect	effect	NOUN
ajfa-997	11	38	,	,	PUNCT
ajfa-997	11	39	the	the	DET
ajfa-997	11	40	small	small	ADJ
ajfa-997	11	41	-	-	PUNCT
ajfa-997	11	42	firm	firm	ADJ
ajfa-997	11	43	effect	effect	NOUN
ajfa-997	11	44	,	,	PUNCT
ajfa-997	11	45	announcement	announcement	NOUN
ajfa-997	11	46	effects	effect	NOUN
ajfa-997	11	47	,	,	PUNCT
ajfa-997	11	48	and	and	CCONJ
ajfa-997	11	49	many	many	ADJ
ajfa-997	11	50	others	other	NOUN
ajfa-997	11	51	.	.	PUNCT
ajfa-997	12	1	such	such	ADJ
ajfa-997	12	2	market	market	NOUN
ajfa-997	12	3	anomalies	anomaly	NOUN
ajfa-997	12	4	are	be	AUX
ajfa-997	12	5	primarily	primarily	ADV
ajfa-997	12	6	due	due	ADJ
ajfa-997	12	7	to	to	ADP
ajfa-997	12	8	behavioural	behavioural	ADJ
ajfa-997	12	9	causes	cause	NOUN
ajfa-997	12	10	(	(	PUNCT
ajfa-997	12	11	schwert	schwert	NOUN
ajfa-997	12	12	,	,	PUNCT
ajfa-997	12	13	2003	2003	NUM
ajfa-997	12	14	)	)	PUNCT
ajfa-997	12	15	.	.	PUNCT
ajfa-997	13	1	the	the	DET
ajfa-997	13	2	presence	presence	NOUN
ajfa-997	13	3	of	of	ADP
ajfa-997	13	4	market	market	NOUN
ajfa-997	13	5	anomalies	anomaly	NOUN
ajfa-997	13	6	seems	seem	VERB
ajfa-997	13	7	to	to	PART
ajfa-997	13	8	be	be	AUX
ajfa-997	13	9	ubiquitous	ubiquitous	ADJ
ajfa-997	13	10	,	,	PUNCT
ajfa-997	13	11	occurring	occur	VERB
ajfa-997	13	12	in	in	ADP
ajfa-997	13	13	stock	stock	NOUN
ajfa-997	13	14	markets	market	NOUN
ajfa-997	13	15	around	around	ADP
ajfa-997	13	16	the	the	DET
ajfa-997	13	17	world	world	NOUN
ajfa-997	13	18	,	,	PUNCT
ajfa-997	13	19	in	in	ADP
ajfa-997	13	20	both	both	DET
ajfa-997	13	21	developed	develop	VERB
ajfa-997	13	22	markets	market	NOUN
ajfa-997	13	23	and	and	CCONJ
ajfa-997	13	24	emerging	emerge	VERB
ajfa-997	13	25	markets	market	NOUN
ajfa-997	13	26	.	.	PUNCT
ajfa-997	14	1	for	for	ADP
ajfa-997	14	2	example	example	NOUN
ajfa-997	14	3	,	,	PUNCT
ajfa-997	14	4	the	the	DET
ajfa-997	14	5	january	january	PROPN
ajfa-997	14	6	effect	effect	NOUN
ajfa-997	14	7	is	be	AUX
ajfa-997	14	8	the	the	DET
ajfa-997	14	9	phenomenon	phenomenon	NOUN
ajfa-997	14	10	in	in	ADP
ajfa-997	14	11	which	which	PRON
ajfa-997	14	12	asset	asset	NOUN
ajfa-997	14	13	prices	price	NOUN
ajfa-997	14	14	tend	tend	VERB
ajfa-997	14	15	to	to	PART
ajfa-997	14	16	increase	increase	VERB
ajfa-997	14	17	in	in	ADP
ajfa-997	14	18	the	the	DET
ajfa-997	14	19	month	month	NOUN
ajfa-997	14	20	of	of	ADP
ajfa-997	14	21	january	january	PROPN
ajfa-997	14	22	;	;	PUNCT
ajfa-997	14	23	in	in	ADP
ajfa-997	14	24	fact	fact	NOUN
ajfa-997	14	25	,	,	PUNCT
ajfa-997	14	26	between	between	ADP
ajfa-997	14	27	the	the	DET
ajfa-997	14	28	last	last	ADJ
ajfa-997	14	29	trading	trading	NOUN
ajfa-997	14	30	day	day	NOUN
ajfa-997	14	31	in	in	ADP
ajfa-997	14	32	december	december	PROPN
ajfa-997	14	33	of	of	ADP
ajfa-997	14	34	the	the	DET
ajfa-997	14	35	previous	previous	ADJ
ajfa-997	14	36	year	year	NOUN
ajfa-997	14	37	and	and	CCONJ
ajfa-997	14	38	the	the	DET
ajfa-997	14	39	fifth	fifth	ADJ
ajfa-997	14	40	trading	trading	NOUN
ajfa-997	14	41	day	day	NOUN
ajfa-997	14	42	of	of	ADP
ajfa-997	14	43	the	the	DET
ajfa-997	14	44	new	new	ADJ
ajfa-997	14	45	year	year	NOUN
ajfa-997	14	46	in	in	ADP
ajfa-997	14	47	january	january	PROPN
ajfa-997	14	48	.	.	PUNCT
ajfa-997	15	1	a	a	DET
ajfa-997	15	2	theory	theory	NOUN
ajfa-997	15	3	explaining	explain	VERB
ajfa-997	15	4	the	the	DET
ajfa-997	15	5	january	january	PROPN
ajfa-997	15	6	effect	effect	NOUN
ajfa-997	15	7	is	be	AUX
ajfa-997	15	8	that	that	PRON
ajfa-997	15	9	of	of	ADP
ajfa-997	15	10	tax	tax	NOUN
ajfa-997	15	11	-	-	PUNCT
ajfa-997	15	12	loss	loss	NOUN
ajfa-997	15	13	selling	selling	NOUN
ajfa-997	15	14	,	,	PUNCT
ajfa-997	15	15	wherein	wherein	SCONJ
ajfa-997	15	16	investors	investor	NOUN
ajfa-997	15	17	sell	sell	VERB
ajfa-997	15	18	their	their	PRON
ajfa-997	15	19	losing	lose	VERB
ajfa-997	15	20	positions	position	NOUN
ajfa-997	15	21	at	at	ADP
ajfa-997	15	22	the	the	DET
ajfa-997	15	23	end	end	NOUN
ajfa-997	15	24	of	of	ADP
ajfa-997	15	25	december	december	PROPN
ajfa-997	15	26	;	;	PUNCT
ajfa-997	15	27	these	these	DET
ajfa-997	15	28	stocks	stock	NOUN
ajfa-997	15	29	are	be	AUX
ajfa-997	15	30	sold	sell	VERB
ajfa-997	15	31	typically	typically	ADV
ajfa-997	15	32	at	at	ADP
ajfa-997	15	33	a	a	DET
ajfa-997	15	34	discount	discount	NOUN
ajfa-997	15	35	to	to	ADP
ajfa-997	15	36	their	their	PRON
ajfa-997	15	37	market	market	NOUN
ajfa-997	15	38	value	value	NOUN
ajfa-997	15	39	,	,	PUNCT
ajfa-997	15	40	and	and	CCONJ
ajfa-997	15	41	they	they	PRON
ajfa-997	15	42	are	be	AUX
ajfa-997	15	43	subsequently	subsequently	ADV
ajfa-997	15	44	picked	pick	VERB
ajfa-997	15	45	up	up	ADP
ajfa-997	15	46	by	by	ADP
ajfa-997	15	47	speculators	speculator	NOUN
ajfa-997	15	48	,	,	PUNCT
ajfa-997	15	49	creating	create	VERB
ajfa-997	15	50	a	a	DET
ajfa-997	15	51	buying	buying	NOUN
ajfa-997	15	52	pressure	pressure	NOUN
ajfa-997	15	53	in	in	ADP
ajfa-997	15	54	the	the	DET
ajfa-997	15	55	market	market	NOUN
ajfa-997	15	56	(	(	PUNCT
ajfa-997	15	57	rozeff	rozeff	NOUN
ajfa-997	15	58	and	and	CCONJ
ajfa-997	15	59	kinney	kinney	PROPN
ajfa-997	15	60	,	,	PUNCT
ajfa-997	15	61	1976	1976	NUM
ajfa-997	15	62	,	,	PUNCT
ajfa-997	15	63	kiem	kiem	NOUN
ajfa-997	15	64	,	,	PUNCT
ajfa-997	15	65	1983	1983	NUM
ajfa-997	15	66	)	)	PUNCT
ajfa-997	15	67	.	.	PUNCT
ajfa-997	16	1	in	in	ADP
ajfa-997	16	2	fact	fact	NOUN
ajfa-997	16	3	,	,	PUNCT
ajfa-997	16	4	it	it	PRON
ajfa-997	16	5	is	be	AUX
ajfa-997	16	6	reported	report	VERB
ajfa-997	16	7	that	that	SCONJ
ajfa-997	16	8	when	when	SCONJ
ajfa-997	16	9	the	the	DET
ajfa-997	16	10	s&p500	s&p500	NOUN
ajfa-997	16	11	has	have	VERB
ajfa-997	16	12	a	a	DET
ajfa-997	16	13	net	net	ADJ
ajfa-997	16	14	positive	positive	ADJ
ajfa-997	16	15	gain	gain	NOUN
ajfa-997	16	16	in	in	ADP
ajfa-997	16	17	the	the	DET
ajfa-997	16	18	first	first	ADJ
ajfa-997	16	19	five	five	NUM
ajfa-997	16	20	trading	trading	NOUN
ajfa-997	16	21	days	day	NOUN
ajfa-997	16	22	of	of	ADP
ajfa-997	16	23	the	the	DET
ajfa-997	16	24	year	year	NOUN
ajfa-997	16	25	,	,	PUNCT
ajfa-997	16	26	there	there	PRON
ajfa-997	16	27	is	be	VERB
ajfa-997	16	28	about	about	ADV
ajfa-997	16	29	an	an	DET
ajfa-997	16	30	86	86	NUM
ajfa-997	16	31	%	%	NOUN
ajfa-997	16	32	chance	chance	NOUN
ajfa-997	16	33	that	that	SCONJ
ajfa-997	16	34	the	the	DET
ajfa-997	16	35	stock	stock	NOUN
ajfa-997	16	36	market	market	NOUN
ajfa-997	16	37	will	will	AUX
ajfa-997	16	38	rise	rise	VERB
ajfa-997	16	39	for	for	ADP
ajfa-997	16	40	the	the	DET
ajfa-997	16	41	year	year	NOUN
ajfa-997	16	42	,	,	PUNCT
ajfa-997	16	43	while	while	SCONJ
ajfa-997	16	44	when	when	SCONJ
ajfa-997	16	45	the	the	DET
ajfa-997	16	46	first	first	ADJ
ajfa-997	16	47	five	five	NUM
ajfa-997	16	48	days	day	NOUN
ajfa-997	16	49	of	of	ADP
ajfa-997	16	50	january	january	PROPN
ajfa-997	16	51	yield	yield	VERB
ajfa-997	16	52	a	a	DET
ajfa-997	16	53	net	net	ADJ
ajfa-997	16	54	loss	loss	NOUN
ajfa-997	16	55	,	,	PUNCT
ajfa-997	16	56	there	there	PRON
ajfa-997	16	57	is	be	VERB
ajfa-997	16	58	no	no	DET
ajfa-997	16	59	statistical	statistical	ADJ
ajfa-997	16	60	bias	bias	NOUN
ajfa-997	16	61	of	of	ADP
ajfa-997	16	62	the	the	DET
ajfa-997	16	63	market	market	NOUN
ajfa-997	16	64	,	,	PUNCT
ajfa-997	16	65	up	up	ADV
ajfa-997	16	66	or	or	CCONJ
ajfa-997	16	67	down2	down2	NOUN
ajfa-997	16	68	.	.	PUNCT
ajfa-997	17	1	literature	literature	NOUN
ajfa-997	17	2	review	review	VERB
ajfa-997	17	3	there	there	PRON
ajfa-997	17	4	is	be	VERB
ajfa-997	17	5	an	an	DET
ajfa-997	17	6	extensive	extensive	ADJ
ajfa-997	17	7	literature	literature	NOUN
ajfa-997	17	8	documenting	document	VERB
ajfa-997	17	9	several	several	ADJ
ajfa-997	17	10	forms	form	NOUN
ajfa-997	17	11	of	of	ADP
ajfa-997	17	12	market	market	NOUN
ajfa-997	17	13	anomaly	anomaly	NOUN
ajfa-997	17	14	,	,	PUNCT
ajfa-997	17	15	especially	especially	ADV
ajfa-997	17	16	in	in	ADP
ajfa-997	17	17	the	the	DET
ajfa-997	17	18	matured	mature	VERB
ajfa-997	17	19	capital	capital	NOUN
ajfa-997	17	20	markets	market	NOUN
ajfa-997	17	21	such	such	ADJ
ajfa-997	17	22	as	as	ADP
ajfa-997	17	23	those	those	PRON
ajfa-997	17	24	in	in	ADP
ajfa-997	17	25	us	we	PRON
ajfa-997	17	26	and	and	CCONJ
ajfa-997	17	27	europe	europe	PROPN
ajfa-997	17	28	.	.	PUNCT
ajfa-997	18	1	in	in	ADP
ajfa-997	18	2	particular	particular	ADJ
ajfa-997	18	3	,	,	PUNCT
ajfa-997	18	4	the	the	DET
ajfa-997	18	5	calendar	calendar	NOUN
ajfa-997	18	6	anomalies	anomalie	VERB
ajfa-997	18	7	such	such	ADJ
ajfa-997	18	8	as	as	ADP
ajfa-997	18	9	the	the	DET
ajfa-997	18	10	month	month	NOUN
ajfa-997	18	11	-	-	PUNCT
ajfa-997	18	12	of	of	ADP
ajfa-997	18	13	-	-	PUNCT
ajfa-997	18	14	the	the	DET
ajfa-997	18	15	-	-	PUNCT
ajfa-997	18	16	year	year	NOUN
ajfa-997	18	17	and	and	CCONJ
ajfa-997	18	18	day	day	NOUN
ajfa-997	18	19	-	-	PUNCT
ajfa-997	18	20	of	of	ADP
ajfa-997	18	21	-	-	PUNCT
ajfa-997	18	22	the	the	DET
ajfa-997	18	23	-	-	PUNCT
ajfa-997	18	24	week	week	NOUN
ajfa-997	18	25	effects	effect	NOUN
ajfa-997	18	26	have	have	AUX
ajfa-997	18	27	been	be	AUX
ajfa-997	18	28	comprehensively	comprehensively	ADV
ajfa-997	18	29	studied	study	VERB
ajfa-997	18	30	in	in	ADP
ajfa-997	18	31	matured	mature	VERB
ajfa-997	18	32	as	as	ADV
ajfa-997	18	33	well	well	ADV
ajfa-997	18	34	as	as	ADP
ajfa-997	18	35	emerging	emerge	VERB
ajfa-997	18	36	stock	stock	NOUN
ajfa-997	18	37	markets	market	NOUN
ajfa-997	18	38	.	.	PUNCT
ajfa-997	19	1	the	the	DET
ajfa-997	19	2	following	follow	VERB
ajfa-997	19	3	undertakes	undertake	VERB
ajfa-997	19	4	a	a	DET
ajfa-997	19	5	review	review	NOUN
ajfa-997	19	6	of	of	ADP
ajfa-997	19	7	some	some	PRON
ajfa-997	19	8	of	of	ADP
ajfa-997	19	9	the	the	DET
ajfa-997	19	10	prominent	prominent	ADJ
ajfa-997	19	11	literature	literature	NOUN
ajfa-997	19	12	on	on	ADP
ajfa-997	19	13	seasonality	seasonality	NOUN
ajfa-997	19	14	in	in	ADP
ajfa-997	19	15	stock	stock	NOUN
ajfa-997	19	16	returns	return	NOUN
ajfa-997	19	17	.	.	PUNCT
ajfa-997	20	1	the	the	DET
ajfa-997	20	2	pioneering	pioneering	ADJ
ajfa-997	20	3	work	work	NOUN
ajfa-997	20	4	on	on	ADP
ajfa-997	20	5	seasonality	seasonality	NOUN
ajfa-997	20	6	was	be	AUX
ajfa-997	20	7	by	by	ADP
ajfa-997	20	8	watchel	watchel	PROPN
ajfa-997	20	9	(	(	PUNCT
ajfa-997	20	10	1942	1942	NUM
ajfa-997	20	11	)	)	PUNCT
ajfa-997	20	12	,	,	PUNCT
ajfa-997	20	13	who	who	PRON
ajfa-997	20	14	was	be	AUX
ajfa-997	20	15	the	the	DET
ajfa-997	20	16	first	first	ADJ
ajfa-997	20	17	to	to	PART
ajfa-997	20	18	report	report	VERB
ajfa-997	20	19	seasonality	seasonality	NOUN
ajfa-997	20	20	in	in	ADP
ajfa-997	20	21	stock	stock	NOUN
ajfa-997	20	22	returns	return	NOUN
ajfa-997	20	23	.	.	PUNCT
ajfa-997	21	1	rozeff	rozeff	NOUN
ajfa-997	21	2	and	and	CCONJ
ajfa-997	21	3	kinney	kinney	PROPN
ajfa-997	21	4	(	(	PUNCT
ajfa-997	21	5	1976	1976	NUM
ajfa-997	21	6	)	)	PUNCT
ajfa-997	21	7	studied	study	VERB
ajfa-997	21	8	the	the	DET
ajfa-997	21	9	january	january	PROPN
ajfa-997	21	10	effect	effect	NOUN
ajfa-997	21	11	in	in	ADP
ajfa-997	21	12	new	new	PROPN
ajfa-997	21	13	york	york	PROPN
ajfa-997	21	14	exchange	exchange	PROPN
ajfa-997	21	15	stocks	stock	NOUN
ajfa-997	21	16	,	,	PUNCT
ajfa-997	21	17	finding	find	VERB
ajfa-997	21	18	that	that	SCONJ
ajfa-997	21	19	average	average	ADJ
ajfa-997	21	20	return	return	NOUN
ajfa-997	21	21	for	for	ADP
ajfa-997	21	22	the	the	DET
ajfa-997	21	23	month	month	NOUN
ajfa-997	21	24	of	of	ADP
ajfa-997	21	25	january	january	PROPN
ajfa-997	21	26	was	be	AUX
ajfa-997	21	27	higher	high	ADJ
ajfa-997	21	28	than	than	ADP
ajfa-997	21	29	other	other	ADJ
ajfa-997	21	30	months	month	NOUN
ajfa-997	21	31	.	.	PUNCT
ajfa-997	22	1	keim	keim	NOUN
ajfa-997	22	2	(	(	PUNCT
ajfa-997	22	3	1983	1983	NUM
ajfa-997	22	4	)	)	PUNCT
ajfa-997	22	5	studied	study	VERB
ajfa-997	22	6	the	the	DET
ajfa-997	22	7	january	january	PROPN
ajfa-997	22	8	effect	effect	NOUN
ajfa-997	22	9	,	,	PUNCT
ajfa-997	22	10	along	along	ADP
ajfa-997	22	11	with	with	ADP
ajfa-997	22	12	size	size	NOUN
ajfa-997	22	13	effects	effect	NOUN
ajfa-997	22	14	in	in	ADP
ajfa-997	22	15	stock	stock	NOUN
ajfa-997	22	16	returns	return	NOUN
ajfa-997	22	17	.	.	PUNCT
ajfa-997	23	1	he	he	PRON
ajfa-997	23	2	found	find	VERB
ajfa-997	23	3	that	that	SCONJ
ajfa-997	23	4	january	january	PROPN
ajfa-997	23	5	returns	return	NOUN
ajfa-997	23	6	of	of	ADP
ajfa-997	23	7	small	small	ADJ
ajfa-997	23	8	firms	firm	NOUN
ajfa-997	23	9	were	be	AUX
ajfa-997	23	10	significantly	significantly	ADV
ajfa-997	23	11	higher	high	ADJ
ajfa-997	23	12	than	than	ADP
ajfa-997	23	13	large	large	ADJ
ajfa-997	23	14	firms	firm	NOUN
ajfa-997	23	15	,	,	PUNCT
ajfa-997	23	16	providing	provide	VERB
ajfa-997	23	17	evidence	evidence	NOUN
ajfa-997	23	18	for	for	ADP
ajfa-997	23	19	the	the	DET
ajfa-997	23	20	tax	tax	NOUN
ajfa-997	23	21	-	-	PUNCT
ajfa-997	23	22	loss	loss	NOUN
ajfa-997	23	23	-	-	PUNCT
ajfa-997	23	24	selling	sell	VERB
ajfa-997	23	25	hypothesis	hypothesis	NOUN
ajfa-997	23	26	.	.	PUNCT
ajfa-997	24	1	similar	similar	ADJ
ajfa-997	24	2	effects	effect	NOUN
ajfa-997	24	3	were	be	AUX
ajfa-997	24	4	found	find	VERB
ajfa-997	24	5	by	by	ADP
ajfa-997	24	6	reinganum	reinganum	PROPN
ajfa-997	24	7	(	(	PUNCT
ajfa-997	24	8	1983	1983	NUM
ajfa-997	24	9	)	)	PUNCT
ajfa-997	24	10	and	and	CCONJ
ajfa-997	24	11	by	by	ADP
ajfa-997	24	12	gultekin	gultekin	NOUN
ajfa-997	24	13	and	and	CCONJ
ajfa-997	24	14	gultekin	gultekin	NOUN
ajfa-997	24	15	(	(	PUNCT
ajfa-997	24	16	1983	1983	NUM
ajfa-997	24	17	)	)	PUNCT
ajfa-997	24	18	.	.	PUNCT
ajfa-997	25	1	brown	brown	PROPN
ajfa-997	25	2	et	et	PROPN
ajfa-997	25	3	al	al	PROPN
ajfa-997	25	4	.	.	PROPN
ajfa-997	26	1	(	(	PUNCT
ajfa-997	26	2	1985	1985	NUM
ajfa-997	26	3	)	)	PUNCT
ajfa-997	26	4	found	find	VERB
ajfa-997	26	5	evidence	evidence	NOUN
ajfa-997	26	6	of	of	ADP
ajfa-997	26	7	december	december	PROPN
ajfa-997	26	8	-	-	PUNCT
ajfa-997	26	9	january	january	PROPN
ajfa-997	26	10	and	and	CCONJ
ajfa-997	26	11	july	july	PROPN
ajfa-997	26	12	-	-	PUNCT
ajfa-997	26	13	august	august	PROPN
ajfa-997	26	14	seasonal	seasonal	ADJ
ajfa-997	26	15	effects	effect	NOUN
ajfa-997	26	16	in	in	ADP
ajfa-997	26	17	the	the	DET
ajfa-997	26	18	australian	australian	ADJ
ajfa-997	26	19	stock	stock	NOUN
ajfa-997	26	20	market	market	NOUN
ajfa-997	26	21	,	,	PUNCT
ajfa-997	26	22	with	with	ADP
ajfa-997	26	23	the	the	DET
ajfa-997	26	24	latter	latter	ADJ
ajfa-997	26	25	due	due	ADP
ajfa-997	26	26	to	to	ADP
ajfa-997	26	27	a	a	DET
ajfa-997	26	28	june	june	PROPN
ajfa-997	26	29	-	-	PUNCT
ajfa-997	26	30	july	july	PROPN
ajfa-997	26	31	tax	tax	NOUN
ajfa-997	26	32	year	year	NOUN
ajfa-997	26	33	.	.	PUNCT
ajfa-997	27	1	on	on	ADP
ajfa-997	27	2	the	the	DET
ajfa-997	27	3	other	other	ADJ
ajfa-997	27	4	hand	hand	NOUN
ajfa-997	27	5	,	,	PUNCT
ajfa-997	27	6	raj	raj	PROPN
ajfa-997	27	7	and	and	CCONJ
ajfa-997	27	8	thurston	thurston	PROPN
ajfa-997	27	9	(	(	PUNCT
ajfa-997	27	10	1994	1994	NUM
ajfa-997	27	11	)	)	PUNCT
ajfa-997	27	12	found	find	VERB
ajfa-997	27	13	that	that	SCONJ
ajfa-997	27	14	the	the	DET
ajfa-997	27	15	january	january	PROPN
ajfa-997	27	16	and	and	CCONJ
ajfa-997	27	17	april	april	PROPN
ajfa-997	27	18	effects	effect	NOUN
ajfa-997	27	19	in	in	ADP
ajfa-997	27	20	the	the	DET
ajfa-997	27	21	new	new	PROPN
ajfa-997	27	22	zealand	zealand	PROPN
ajfa-997	27	23	stock	stock	NOUN
ajfa-997	27	24	market	market	NOUN
ajfa-997	27	25	were	be	AUX
ajfa-997	27	26	not	not	PART
ajfa-997	27	27	statistically	statistically	ADV
ajfa-997	27	28	significant	significant	ADJ
ajfa-997	27	29	.	.	PUNCT
ajfa-997	28	1	mill	mill	NOUN
ajfa-997	28	2	and	and	CCONJ
ajfa-997	28	3	coutts	coutts	PROPN
ajfa-997	28	4	(	(	PUNCT
ajfa-997	28	5	1995	1995	NUM
ajfa-997	28	6	)	)	PUNCT
ajfa-997	28	7	found	find	VERB
ajfa-997	28	8	calendar	calendar	NOUN
ajfa-997	28	9	effects	effect	NOUN
ajfa-997	28	10	in	in	ADP
ajfa-997	28	11	british	british	ADJ
ajfa-997	28	12	stock	stock	NOUN
ajfa-997	28	13	markets	market	NOUN
ajfa-997	28	14	.	.	PUNCT
ajfa-997	29	1	choudhary	choudhary	PROPN
ajfa-997	29	2	(	(	PUNCT
ajfa-997	29	3	2001	2001	NUM
ajfa-997	29	4	)	)	PUNCT
ajfa-997	29	5	found	find	VERB
ajfa-997	29	6	the	the	DET
ajfa-997	29	7	january	january	PROPN
ajfa-997	29	8	effect	effect	NOUN
ajfa-997	29	9	on	on	ADP
ajfa-997	29	10	the	the	DET
ajfa-997	29	11	uk	uk	PROPN
ajfa-997	29	12	and	and	CCONJ
ajfa-997	29	13	us	we	PRON
ajfa-997	29	14	stock	stock	NOUN
ajfa-997	29	15	markets	market	NOUN
ajfa-997	29	16	,	,	PUNCT
ajfa-997	29	17	but	but	CCONJ
ajfa-997	29	18	not	not	PART
ajfa-997	29	19	in	in	ADP
ajfa-997	29	20	the	the	DET
ajfa-997	29	21	german	german	ADJ
ajfa-997	29	22	stock	stock	NOUN
ajfa-997	29	23	market	market	NOUN
ajfa-997	29	24	.	.	PUNCT
ajfa-997	30	1	2	2	NUM
ajfa-997	30	2	http://www.mysmp.com/stocks/january-effect.html	http://www.mysmp.com/stocks/january-effect.html	PROPN
ajfa-997	30	3	asian	asian	ADJ
ajfa-997	30	4	journal	journal	NOUN
ajfa-997	30	5	of	of	ADP
ajfa-997	30	6	finance	finance	PROPN
ajfa-997	30	7	&	&	CCONJ
ajfa-997	30	8	accounting	accounting	PROPN
ajfa-997	30	9	issn	issn	PROPN
ajfa-997	30	10	1946	1946	NUM
ajfa-997	30	11	-	-	PUNCT
ajfa-997	30	12	052x	052x	NOUN
ajfa-997	30	13	2011	2011	NUM
ajfa-997	30	14	,	,	PUNCT
ajfa-997	30	15	vol	vol	NOUN
ajfa-997	30	16	.	.	PROPN
ajfa-997	31	1	3	3	NUM
ajfa-997	31	2	,	,	PUNCT
ajfa-997	31	3	no	no	INTJ
ajfa-997	31	4	.	.	NOUN
ajfa-997	31	5	1	1	NUM
ajfa-997	31	6	:	:	SYM
ajfa-997	31	7	e11	e11	X
ajfa-997	31	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-997	31	9	176	176	NUM
ajfa-997	31	10	fountas	founta	NOUN
ajfa-997	31	11	and	and	CCONJ
ajfa-997	31	12	segredakis	segredakis	NOUN
ajfa-997	31	13	(	(	PUNCT
ajfa-997	31	14	2002	2002	NUM
ajfa-997	31	15	)	)	PUNCT
ajfa-997	31	16	studied	study	VERB
ajfa-997	31	17	seasonal	seasonal	ADJ
ajfa-997	31	18	patterns	pattern	NOUN
ajfa-997	31	19	in	in	ADP
ajfa-997	31	20	returns	return	NOUN
ajfa-997	31	21	in	in	ADP
ajfa-997	31	22	several	several	ADJ
ajfa-997	31	23	markets	market	NOUN
ajfa-997	31	24	around	around	ADP
ajfa-997	31	25	the	the	DET
ajfa-997	31	26	world	world	NOUN
ajfa-997	31	27	.	.	PUNCT
ajfa-997	32	1	the	the	DET
ajfa-997	32	2	main	main	ADJ
ajfa-997	32	3	reasons	reason	NOUN
ajfa-997	32	4	they	they	PRON
ajfa-997	32	5	attributed	attribute	VERB
ajfa-997	32	6	for	for	ADP
ajfa-997	32	7	the	the	DET
ajfa-997	32	8	january	january	PROPN
ajfa-997	32	9	effect	effect	NOUN
ajfa-997	32	10	in	in	ADP
ajfa-997	32	11	stock	stock	NOUN
ajfa-997	32	12	returns	return	NOUN
ajfa-997	32	13	in	in	ADP
ajfa-997	32	14	most	most	ADJ
ajfa-997	32	15	of	of	ADP
ajfa-997	32	16	the	the	DET
ajfa-997	32	17	developed	develop	VERB
ajfa-997	32	18	stock	stock	NOUN
ajfa-997	32	19	markets	market	NOUN
ajfa-997	32	20	were	be	AUX
ajfa-997	32	21	the	the	DET
ajfa-997	32	22	tax	tax	NOUN
ajfa-997	32	23	loss	loss	NOUN
ajfa-997	32	24	selling	selling	NOUN
ajfa-997	32	25	hypothesis	hypothesis	NOUN
ajfa-997	32	26	,	,	PUNCT
ajfa-997	32	27	settlement	settlement	NOUN
ajfa-997	32	28	procedures	procedure	NOUN
ajfa-997	32	29	,	,	PUNCT
ajfa-997	32	30	and	and	CCONJ
ajfa-997	32	31	insider	insider	NOUN
ajfa-997	32	32	trading	trading	NOUN
ajfa-997	32	33	information	information	NOUN
ajfa-997	32	34	.	.	PUNCT
ajfa-997	33	1	another	another	DET
ajfa-997	33	2	explanation	explanation	NOUN
ajfa-997	33	3	for	for	ADP
ajfa-997	33	4	seasonal	seasonal	ADJ
ajfa-997	33	5	effects	effect	NOUN
ajfa-997	33	6	is	be	AUX
ajfa-997	33	7	window	window	NOUN
ajfa-997	33	8	-	-	PUNCT
ajfa-997	33	9	dressing	dressing	NOUN
ajfa-997	33	10	related	relate	VERB
ajfa-997	33	11	to	to	ADP
ajfa-997	33	12	institutional	institutional	ADJ
ajfa-997	33	13	trading	trading	NOUN
ajfa-997	33	14	;	;	PUNCT
ajfa-997	33	15	to	to	PART
ajfa-997	33	16	avoid	avoid	VERB
ajfa-997	33	17	reporting	report	VERB
ajfa-997	33	18	to	to	ADP
ajfa-997	33	19	many	many	ADJ
ajfa-997	33	20	losers	loser	NOUN
ajfa-997	33	21	in	in	ADP
ajfa-997	33	22	their	their	PRON
ajfa-997	33	23	portfolios	portfolio	NOUN
ajfa-997	33	24	at	at	ADP
ajfa-997	33	25	the	the	DET
ajfa-997	33	26	end	end	NOUN
ajfa-997	33	27	of	of	ADP
ajfa-997	33	28	year	year	NOUN
ajfa-997	33	29	,	,	PUNCT
ajfa-997	33	30	institutional	institutional	ADJ
ajfa-997	33	31	investors	investor	NOUN
ajfa-997	33	32	tend	tend	VERB
ajfa-997	33	33	to	to	PART
ajfa-997	33	34	sell	sell	VERB
ajfa-997	33	35	losers	loser	NOUN
ajfa-997	33	36	in	in	ADP
ajfa-997	33	37	december	december	PROPN
ajfa-997	33	38	and	and	CCONJ
ajfa-997	33	39	buy	buy	VERB
ajfa-997	33	40	them	they	PRON
ajfa-997	33	41	back	back	ADV
ajfa-997	33	42	after	after	ADP
ajfa-997	33	43	the	the	DET
ajfa-997	33	44	reporting	reporting	NOUN
ajfa-997	33	45	date	date	NOUN
ajfa-997	33	46	in	in	ADP
ajfa-997	33	47	january	january	PROPN
ajfa-997	33	48	in	in	ADP
ajfa-997	33	49	order	order	NOUN
ajfa-997	33	50	to	to	PART
ajfa-997	33	51	hold	hold	VERB
ajfa-997	33	52	their	their	PRON
ajfa-997	33	53	desired	desire	VERB
ajfa-997	33	54	portfolio	portfolio	NOUN
ajfa-997	33	55	structure	structure	NOUN
ajfa-997	33	56	again	again	ADV
ajfa-997	33	57	.	.	PUNCT
ajfa-997	34	1	another	another	DET
ajfa-997	34	2	interesting	interesting	ADJ
ajfa-997	34	3	effect	effect	NOUN
ajfa-997	34	4	is	be	AUX
ajfa-997	34	5	the	the	DET
ajfa-997	34	6	holiday	holiday	NOUN
ajfa-997	34	7	effect	effect	NOUN
ajfa-997	34	8	,	,	PUNCT
ajfa-997	34	9	in	in	ADP
ajfa-997	34	10	which	which	PRON
ajfa-997	34	11	higher	high	ADJ
ajfa-997	34	12	returns	return	NOUN
ajfa-997	34	13	are	be	AUX
ajfa-997	34	14	exhibited	exhibit	VERB
ajfa-997	34	15	around	around	ADP
ajfa-997	34	16	holidays	holiday	NOUN
ajfa-997	34	17	,	,	PUNCT
ajfa-997	34	18	mainly	mainly	ADV
ajfa-997	34	19	in	in	ADP
ajfa-997	34	20	the	the	DET
ajfa-997	34	21	pre	pre	ADJ
ajfa-997	34	22	-	-	ADJ
ajfa-997	34	23	holiday	holiday	ADJ
ajfa-997	34	24	period	period	NOUN
ajfa-997	34	25	as	as	SCONJ
ajfa-997	34	26	compared	compare	VERB
ajfa-997	34	27	to	to	ADP
ajfa-997	34	28	returns	return	NOUN
ajfa-997	34	29	of	of	ADP
ajfa-997	34	30	the	the	DET
ajfa-997	34	31	normal	normal	ADJ
ajfa-997	34	32	trading	trading	NOUN
ajfa-997	34	33	days	day	NOUN
ajfa-997	34	34	.	.	PUNCT
ajfa-997	35	1	several	several	ADJ
ajfa-997	35	2	studies	study	NOUN
ajfa-997	35	3	examine	examine	VERB
ajfa-997	35	4	this	this	DET
ajfa-997	35	5	effect	effect	NOUN
ajfa-997	35	6	(	(	PUNCT
ajfa-997	35	7	lakonishok	lakonishok	NOUN
ajfa-997	35	8	and	and	CCONJ
ajfa-997	35	9	smidt	smidt	NOUN
ajfa-997	35	10	,	,	PUNCT
ajfa-997	35	11	1988	1988	NUM
ajfa-997	35	12	;	;	PUNCT
ajfa-997	35	13	ariel	ariel	PROPN
ajfa-997	35	14	,	,	PUNCT
ajfa-997	35	15	1990	1990	NUM
ajfa-997	35	16	;	;	PUNCT
ajfa-997	35	17	cadsby	cadsby	NOUN
ajfa-997	35	18	and	and	CCONJ
ajfa-997	35	19	ratner	ratner	NOUN
ajfa-997	35	20	,	,	PUNCT
ajfa-997	35	21	1992	1992	NUM
ajfa-997	35	22	)	)	PUNCT
ajfa-997	35	23	.	.	PUNCT
ajfa-997	36	1	husain	husain	NOUN
ajfa-997	36	2	(	(	PUNCT
ajfa-997	36	3	1998	1998	NUM
ajfa-997	36	4	)	)	PUNCT
ajfa-997	36	5	studied	study	VERB
ajfa-997	36	6	the	the	DET
ajfa-997	36	7	ramdhan	ramdhan	ADJ
ajfa-997	36	8	effect	effect	NOUN
ajfa-997	36	9	in	in	ADP
ajfa-997	36	10	the	the	DET
ajfa-997	36	11	pakistan	pakistan	PROPN
ajfa-997	36	12	stock	stock	NOUN
ajfa-997	36	13	market	market	NOUN
ajfa-997	36	14	,	,	PUNCT
ajfa-997	36	15	finding	find	VERB
ajfa-997	36	16	a	a	DET
ajfa-997	36	17	significant	significant	ADJ
ajfa-997	36	18	decline	decline	NOUN
ajfa-997	36	19	in	in	ADP
ajfa-997	36	20	stock	stock	NOUN
ajfa-997	36	21	returns	return	NOUN
ajfa-997	36	22	volatility	volatility	NOUN
ajfa-997	36	23	in	in	ADP
ajfa-997	36	24	the	the	DET
ajfa-997	36	25	month	month	NOUN
ajfa-997	36	26	of	of	ADP
ajfa-997	36	27	ramdhan	ramdhan	NOUN
ajfa-997	36	28	,	,	PUNCT
ajfa-997	36	29	though	though	SCONJ
ajfa-997	36	30	no	no	DET
ajfa-997	36	31	significant	significant	ADJ
ajfa-997	36	32	change	change	NOUN
ajfa-997	36	33	in	in	ADP
ajfa-997	36	34	the	the	DET
ajfa-997	36	35	mean	mean	ADJ
ajfa-997	36	36	returns	return	NOUN
ajfa-997	36	37	.	.	PUNCT
ajfa-997	37	1	the	the	DET
ajfa-997	37	2	day	day	NOUN
ajfa-997	37	3	-	-	PUNCT
ajfa-997	37	4	of	of	ADP
ajfa-997	37	5	-	-	PUNCT
ajfa-997	37	6	the	the	DET
ajfa-997	37	7	-	-	PUNCT
ajfa-997	37	8	week	week	NOUN
ajfa-997	37	9	effect	effect	NOUN
ajfa-997	37	10	in	in	ADP
ajfa-997	37	11	stock	stock	NOUN
ajfa-997	37	12	market	market	NOUN
ajfa-997	37	13	returns	return	NOUN
ajfa-997	37	14	has	have	AUX
ajfa-997	37	15	also	also	ADV
ajfa-997	37	16	been	be	AUX
ajfa-997	37	17	extensively	extensively	ADV
ajfa-997	37	18	reported	report	VERB
ajfa-997	37	19	in	in	ADP
ajfa-997	37	20	developed	develop	VERB
ajfa-997	37	21	and	and	CCONJ
ajfa-997	37	22	emerging	emerge	VERB
ajfa-997	37	23	stock	stock	NOUN
ajfa-997	37	24	markets	market	NOUN
ajfa-997	37	25	,	,	PUNCT
ajfa-997	37	26	with	with	ADP
ajfa-997	37	27	lower	low	ADJ
ajfa-997	37	28	mean	mean	ADJ
ajfa-997	37	29	returns	return	NOUN
ajfa-997	37	30	on	on	ADP
ajfa-997	37	31	mondays	monday	NOUN
ajfa-997	37	32	and	and	CCONJ
ajfa-997	37	33	higher	high	ADJ
ajfa-997	37	34	mean	mean	ADJ
ajfa-997	37	35	returns	return	NOUN
ajfa-997	37	36	on	on	ADP
ajfa-997	37	37	fridays	friday	NOUN
ajfa-997	37	38	(	(	PUNCT
ajfa-997	37	39	kelly	kelly	PROPN
ajfa-997	37	40	,	,	PUNCT
ajfa-997	37	41	1930	1930	NUM
ajfa-997	37	42	;	;	PUNCT
ajfa-997	37	43	hirsch	hirsch	PROPN
ajfa-997	37	44	,	,	PUNCT
ajfa-997	37	45	1968	1968	NUM
ajfa-997	37	46	;	;	PUNCT
ajfa-997	37	47	cross	cross	NOUN
ajfa-997	37	48	,	,	PUNCT
ajfa-997	37	49	1973	1973	NUM
ajfa-997	37	50	;	;	PUNCT
ajfa-997	37	51	gibbons	gibbon	NOUN
ajfa-997	37	52	and	and	CCONJ
ajfa-997	37	53	hess	hess	NOUN
ajfa-997	37	54	,	,	PUNCT
ajfa-997	37	55	1981	1981	NUM
ajfa-997	37	56	;	;	PUNCT
ajfa-997	37	57	smirlock	smirlock	NOUN
ajfa-997	37	58	and	and	CCONJ
ajfa-997	37	59	starks	stark	NOUN
ajfa-997	37	60	,	,	PUNCT
ajfa-997	37	61	1986	1986	NUM
ajfa-997	37	62	;	;	PUNCT
ajfa-997	37	63	jaffe	jaffe	PROPN
ajfa-997	37	64	and	and	CCONJ
ajfa-997	37	65	westerfield	westerfield	PROPN
ajfa-997	37	66	,	,	PUNCT
ajfa-997	37	67	1989	1989	NUM
ajfa-997	37	68	)	)	PUNCT
ajfa-997	37	69	.	.	PUNCT
ajfa-997	38	1	several	several	ADJ
ajfa-997	38	2	studies	study	NOUN
ajfa-997	38	3	have	have	AUX
ajfa-997	38	4	also	also	ADV
ajfa-997	38	5	examined	examine	VERB
ajfa-997	38	6	seasonality	seasonality	NOUN
ajfa-997	38	7	of	of	ADP
ajfa-997	38	8	stock	stock	NOUN
ajfa-997	38	9	returns	return	NOUN
ajfa-997	38	10	in	in	ADP
ajfa-997	38	11	indian	indian	ADJ
ajfa-997	38	12	stock	stock	NOUN
ajfa-997	38	13	markets	market	NOUN
ajfa-997	38	14	.	.	PUNCT
ajfa-997	39	1	pandey	pandey	PROPN
ajfa-997	39	2	(	(	PUNCT
ajfa-997	39	3	2002	2002	NUM
ajfa-997	39	4	)	)	PUNCT
ajfa-997	39	5	examined	examine	VERB
ajfa-997	39	6	seasonality	seasonality	NOUN
ajfa-997	39	7	in	in	ADP
ajfa-997	39	8	monthly	monthly	ADJ
ajfa-997	39	9	returns	return	NOUN
ajfa-997	39	10	of	of	ADP
ajfa-997	39	11	the	the	DET
ajfa-997	39	12	bse	bse	NOUN
ajfa-997	39	13	sensex	sensex	PROPN
ajfa-997	39	14	,	,	PUNCT
ajfa-997	39	15	finding	find	VERB
ajfa-997	39	16	evidence	evidence	NOUN
ajfa-997	39	17	of	of	ADP
ajfa-997	39	18	the	the	DET
ajfa-997	39	19	january	january	PROPN
ajfa-997	39	20	effect	effect	NOUN
ajfa-997	39	21	.	.	PUNCT
ajfa-997	40	1	bodla	bodla	NOUN
ajfa-997	40	2	and	and	CCONJ
ajfa-997	40	3	jindal	jindal	PROPN
ajfa-997	40	4	(	(	PUNCT
ajfa-997	40	5	2006	2006	NUM
ajfa-997	40	6	)	)	PUNCT
ajfa-997	40	7	also	also	ADV
ajfa-997	40	8	found	find	VERB
ajfa-997	40	9	evidence	evidence	NOUN
ajfa-997	40	10	of	of	ADP
ajfa-997	40	11	seasonality	seasonality	NOUN
ajfa-997	40	12	in	in	ADP
ajfa-997	40	13	both	both	CCONJ
ajfa-997	40	14	indian	indian	ADJ
ajfa-997	40	15	and	and	CCONJ
ajfa-997	40	16	us	us	PROPN
ajfa-997	40	17	markets	market	NOUN
ajfa-997	40	18	.	.	PUNCT
ajfa-997	41	1	kumari	kumari	PROPN
ajfa-997	41	2	and	and	CCONJ
ajfa-997	41	3	mahendra	mahendra	PROPN
ajfa-997	41	4	(	(	PUNCT
ajfa-997	41	5	2006	2006	NUM
ajfa-997	41	6	)	)	PUNCT
ajfa-997	41	7	studied	study	VERB
ajfa-997	41	8	the	the	DET
ajfa-997	41	9	day	day	NOUN
ajfa-997	41	10	-	-	PUNCT
ajfa-997	41	11	of	of	ADP
ajfa-997	41	12	-	-	PUNCT
ajfa-997	41	13	the	the	DET
ajfa-997	41	14	-	-	PUNCT
ajfa-997	41	15	week	week	NOUN
ajfa-997	41	16	effect	effect	NOUN
ajfa-997	41	17	in	in	ADP
ajfa-997	41	18	the	the	DET
ajfa-997	41	19	bse	bse	NOUN
ajfa-997	41	20	and	and	CCONJ
ajfa-997	41	21	the	the	DET
ajfa-997	41	22	nse	nse	NOUN
ajfa-997	41	23	,	,	PUNCT
ajfa-997	41	24	finding	find	VERB
ajfa-997	41	25	negative	negative	ADJ
ajfa-997	41	26	returns	return	NOUN
ajfa-997	41	27	on	on	ADP
ajfa-997	41	28	tuesday	tuesday	PROPN
ajfa-997	41	29	and	and	CCONJ
ajfa-997	41	30	relatively	relatively	ADV
ajfa-997	41	31	higher	high	ADJ
ajfa-997	41	32	returns	return	NOUN
ajfa-997	41	33	on	on	ADP
ajfa-997	41	34	monday	monday	PROPN
ajfa-997	41	35	.	.	PUNCT
ajfa-997	42	1	sah	sah	PROPN
ajfa-997	42	2	(	(	PUNCT
ajfa-997	42	3	2008	2008	NUM
ajfa-997	42	4	)	)	PUNCT
ajfa-997	42	5	studied	study	VERB
ajfa-997	42	6	seasonality	seasonality	NOUN
ajfa-997	42	7	in	in	ADP
ajfa-997	42	8	s&p	s&p	PROPN
ajfa-997	42	9	cnx	cnx	PROPN
ajfa-997	42	10	nifty	nifty	ADJ
ajfa-997	42	11	,	,	PUNCT
ajfa-997	42	12	investigating	investigate	VERB
ajfa-997	42	13	both	both	DET
ajfa-997	42	14	the	the	DET
ajfa-997	42	15	day	day	NOUN
ajfa-997	42	16	-	-	PUNCT
ajfa-997	42	17	of	of	ADP
ajfa-997	42	18	-	-	PUNCT
ajfa-997	42	19	the	the	DET
ajfa-997	42	20	-	-	PUNCT
ajfa-997	42	21	week	week	NOUN
ajfa-997	42	22	effect	effect	NOUN
ajfa-997	42	23	and	and	CCONJ
ajfa-997	42	24	the	the	DET
ajfa-997	42	25	month	month	NOUN
ajfa-997	42	26	-	-	PUNCT
ajfa-997	42	27	of	of	ADP
ajfa-997	42	28	-	-	PUNCT
ajfa-997	42	29	the	the	DET
ajfa-997	42	30	-	-	PUNCT
ajfa-997	42	31	year	year	NOUN
ajfa-997	42	32	effect	effect	NOUN
ajfa-997	42	33	,	,	PUNCT
ajfa-997	42	34	finding	find	VERB
ajfa-997	42	35	evidence	evidence	NOUN
ajfa-997	42	36	for	for	ADP
ajfa-997	42	37	a	a	DET
ajfa-997	42	38	friday	friday	PROPN
ajfa-997	42	39	effect	effect	NOUN
ajfa-997	42	40	and	and	CCONJ
ajfa-997	42	41	monthly	monthly	ADJ
ajfa-997	42	42	anomalies	anomaly	NOUN
ajfa-997	42	43	for	for	ADP
ajfa-997	42	44	july	july	PROPN
ajfa-997	42	45	,	,	PUNCT
ajfa-997	42	46	september	september	PROPN
ajfa-997	42	47	,	,	PUNCT
ajfa-997	42	48	december	december	PROPN
ajfa-997	42	49	,	,	PUNCT
ajfa-997	42	50	and	and	CCONJ
ajfa-997	42	51	january	january	PROPN
ajfa-997	42	52	.	.	PUNCT
ajfa-997	43	1	elango	elango	PROPN
ajfa-997	43	2	and	and	CCONJ
ajfa-997	43	3	al	al	PROPN
ajfa-997	43	4	macki	macki	PROPN
ajfa-997	43	5	(	(	PUNCT
ajfa-997	43	6	2008	2008	NUM
ajfa-997	43	7	)	)	PUNCT
ajfa-997	43	8	studied	study	VERB
ajfa-997	43	9	the	the	DET
ajfa-997	43	10	day	day	NOUN
ajfa-997	43	11	-	-	PUNCT
ajfa-997	43	12	of	of	ADP
ajfa-997	43	13	-	-	PUNCT
ajfa-997	43	14	the	the	DET
ajfa-997	43	15	-	-	PUNCT
ajfa-997	43	16	week	week	NOUN
ajfa-997	43	17	effect	effect	NOUN
ajfa-997	43	18	in	in	ADP
ajfa-997	43	19	the	the	DET
ajfa-997	43	20	nse	nse	NOUN
ajfa-997	43	21	,	,	PUNCT
ajfa-997	43	22	finding	find	VERB
ajfa-997	43	23	evidence	evidence	NOUN
ajfa-997	43	24	of	of	ADP
ajfa-997	43	25	the	the	DET
ajfa-997	43	26	monday	monday	PROPN
ajfa-997	43	27	effect	effect	NOUN
ajfa-997	43	28	,	,	PUNCT
ajfa-997	43	29	with	with	ADP
ajfa-997	43	30	lowest	low	ADJ
ajfa-997	43	31	daily	daily	ADJ
ajfa-997	43	32	returns	return	NOUN
ajfa-997	43	33	on	on	ADP
ajfa-997	43	34	monday	monday	PROPN
ajfa-997	43	35	,	,	PUNCT
ajfa-997	43	36	and	and	CCONJ
ajfa-997	43	37	with	with	ADP
ajfa-997	43	38	highest	high	ADJ
ajfa-997	43	39	daily	daily	ADJ
ajfa-997	43	40	returns	return	NOUN
ajfa-997	43	41	on	on	ADP
ajfa-997	43	42	wednesday	wednesday	PROPN
ajfa-997	43	43	.	.	PUNCT
ajfa-997	44	1	on	on	ADP
ajfa-997	44	2	the	the	DET
ajfa-997	44	3	other	other	ADJ
ajfa-997	44	4	hand	hand	NOUN
ajfa-997	44	5	,	,	PUNCT
ajfa-997	44	6	elango	elango	PROPN
ajfa-997	44	7	and	and	CCONJ
ajfa-997	44	8	pandey	pandey	PROPN
ajfa-997	44	9	(	(	PUNCT
ajfa-997	44	10	2008	2008	NUM
ajfa-997	44	11	)	)	PUNCT
ajfa-997	44	12	studied	study	VERB
ajfa-997	44	13	the	the	DET
ajfa-997	44	14	month	month	NOUN
ajfa-997	44	15	-	-	PUNCT
ajfa-997	44	16	of	of	ADP
ajfa-997	44	17	-	-	PUNCT
ajfa-997	44	18	the	the	DET
ajfa-997	44	19	-	-	PUNCT
ajfa-997	44	20	year	year	NOUN
ajfa-997	44	21	effect	effect	NOUN
ajfa-997	44	22	in	in	ADP
ajfa-997	44	23	the	the	DET
ajfa-997	44	24	nse	nse	NOUN
ajfa-997	44	25	,	,	PUNCT
ajfa-997	44	26	finding	find	VERB
ajfa-997	44	27	the	the	DET
ajfa-997	44	28	presence	presence	NOUN
ajfa-997	44	29	of	of	ADP
ajfa-997	44	30	a	a	DET
ajfa-997	44	31	january	january	PROPN
ajfa-997	44	32	anomaly	anomaly	NOUN
ajfa-997	44	33	,	,	PUNCT
ajfa-997	44	34	with	with	ADP
ajfa-997	44	35	march	march	PROPN
ajfa-997	44	36	and	and	CCONJ
ajfa-997	44	37	april	april	PROPN
ajfa-997	44	38	having	have	VERB
ajfa-997	44	39	significant	significant	ADJ
ajfa-997	44	40	negative	negative	ADJ
ajfa-997	44	41	returns	return	NOUN
ajfa-997	44	42	,	,	PUNCT
ajfa-997	44	43	and	and	CCONJ
ajfa-997	44	44	november	november	PROPN
ajfa-997	44	45	and	and	CCONJ
ajfa-997	44	46	december	december	PROPN
ajfa-997	44	47	showing	show	VERB
ajfa-997	44	48	significant	significant	ADJ
ajfa-997	44	49	positive	positive	ADJ
ajfa-997	44	50	returns	return	NOUN
ajfa-997	44	51	.	.	PUNCT
ajfa-997	45	1	patel	patel	NOUN
ajfa-997	45	2	(	(	PUNCT
ajfa-997	45	3	2008	2008	NUM
ajfa-997	45	4	)	)	PUNCT
ajfa-997	45	5	also	also	ADV
ajfa-997	45	6	studied	study	VERB
ajfa-997	45	7	calendar	calendar	NOUN
ajfa-997	45	8	effects	effect	NOUN
ajfa-997	45	9	in	in	ADP
ajfa-997	45	10	monthly	monthly	ADJ
ajfa-997	45	11	returns	return	NOUN
ajfa-997	45	12	in	in	ADP
ajfa-997	45	13	indian	indian	ADJ
ajfa-997	45	14	stock	stock	NOUN
ajfa-997	45	15	markets	market	NOUN
ajfa-997	45	16	,	,	PUNCT
ajfa-997	45	17	finding	find	VERB
ajfa-997	45	18	two	two	NUM
ajfa-997	45	19	distinct	distinct	ADJ
ajfa-997	45	20	effects	effect	NOUN
ajfa-997	45	21	:	:	PUNCT
ajfa-997	45	22	a	a	DET
ajfa-997	45	23	november	november	PROPN
ajfa-997	45	24	-	-	PUNCT
ajfa-997	45	25	december	december	PROPN
ajfa-997	45	26	effect	effect	NOUN
ajfa-997	45	27	,	,	PUNCT
ajfa-997	45	28	in	in	ADP
ajfa-997	45	29	which	which	PRON
ajfa-997	45	30	the	the	DET
ajfa-997	45	31	mean	mean	ADJ
ajfa-997	45	32	returns	return	NOUN
ajfa-997	45	33	for	for	ADP
ajfa-997	45	34	november	november	PROPN
ajfa-997	45	35	and	and	CCONJ
ajfa-997	45	36	december	december	PROPN
ajfa-997	45	37	were	be	AUX
ajfa-997	45	38	significantly	significantly	ADV
ajfa-997	45	39	higher	high	ADJ
ajfa-997	45	40	than	than	ADP
ajfa-997	45	41	those	those	PRON
ajfa-997	45	42	in	in	ADP
ajfa-997	45	43	the	the	DET
ajfa-997	45	44	other	other	ADJ
ajfa-997	45	45	ten	ten	NUM
ajfa-997	45	46	months	month	NOUN
ajfa-997	45	47	,	,	PUNCT
ajfa-997	45	48	and	and	CCONJ
ajfa-997	45	49	a	a	DET
ajfa-997	45	50	march	march	NOUN
ajfa-997	45	51	-	-	PUNCT
ajfa-997	45	52	to	to	ADP
ajfa-997	45	53	-	-	PUNCT
ajfa-997	45	54	may	may	AUX
ajfa-997	45	55	effect	effect	VERB
ajfa-997	45	56	,	,	PUNCT
ajfa-997	45	57	in	in	ADP
ajfa-997	45	58	which	which	PRON
ajfa-997	45	59	mean	mean	VERB
ajfa-997	45	60	returns	return	VERB
ajfa-997	45	61	for	for	ADP
ajfa-997	45	62	the	the	DET
ajfa-997	45	63	months	month	NOUN
ajfa-997	45	64	march	march	NOUN
ajfa-997	45	65	to	to	PART
ajfa-997	45	66	may	may	AUX
ajfa-997	45	67	were	be	AUX
ajfa-997	45	68	significantly	significantly	ADV
ajfa-997	45	69	lower	low	ADJ
ajfa-997	45	70	than	than	ADP
ajfa-997	45	71	those	those	PRON
ajfa-997	45	72	during	during	ADP
ajfa-997	45	73	the	the	DET
ajfa-997	45	74	other	other	ADJ
ajfa-997	45	75	nine	nine	NUM
ajfa-997	45	76	months	month	NOUN
ajfa-997	45	77	;	;	PUNCT
ajfa-997	45	78	and	and	CCONJ
ajfa-997	45	79	they	they	PRON
ajfa-997	45	80	showed	show	VERB
ajfa-997	45	81	that	that	SCONJ
ajfa-997	45	82	these	these	DET
ajfa-997	45	83	effects	effect	NOUN
ajfa-997	45	84	were	be	AUX
ajfa-997	45	85	independent	independent	ADJ
ajfa-997	45	86	of	of	ADP
ajfa-997	45	87	each	each	DET
ajfa-997	45	88	other	other	ADJ
ajfa-997	45	89	.	.	PUNCT
ajfa-997	46	1	the	the	DET
ajfa-997	46	2	literature	literature	NOUN
ajfa-997	46	3	has	have	AUX
ajfa-997	46	4	highlighted	highlight	VERB
ajfa-997	46	5	some	some	DET
ajfa-997	46	6	widely	widely	ADV
ajfa-997	46	7	-	-	PUNCT
ajfa-997	46	8	accepted	accept	VERB
ajfa-997	46	9	market	market	NOUN
ajfa-997	46	10	anomalies	anomaly	NOUN
ajfa-997	46	11	in	in	ADP
ajfa-997	46	12	both	both	CCONJ
ajfa-997	46	13	developed	developed	ADJ
ajfa-997	46	14	and	and	CCONJ
ajfa-997	46	15	emerging	emerge	VERB
ajfa-997	46	16	markets	market	NOUN
ajfa-997	46	17	,	,	PUNCT
ajfa-997	46	18	though	though	SCONJ
ajfa-997	46	19	with	with	ADP
ajfa-997	46	20	some	some	DET
ajfa-997	46	21	differences	difference	NOUN
ajfa-997	46	22	in	in	ADP
ajfa-997	46	23	different	different	ADJ
ajfa-997	46	24	time	time	NOUN
ajfa-997	46	25	periods	period	NOUN
ajfa-997	46	26	and	and	CCONJ
ajfa-997	46	27	in	in	ADP
ajfa-997	46	28	different	different	ADJ
ajfa-997	46	29	markets	market	NOUN
ajfa-997	46	30	.	.	PUNCT
ajfa-997	47	1	there	there	PRON
ajfa-997	47	2	is	be	VERB
ajfa-997	47	3	,	,	PUNCT
ajfa-997	47	4	however	however	ADV
ajfa-997	47	5	,	,	PUNCT
ajfa-997	47	6	a	a	DET
ajfa-997	47	7	gap	gap	NOUN
ajfa-997	47	8	in	in	ADP
ajfa-997	47	9	the	the	DET
ajfa-997	47	10	literature	literature	NOUN
ajfa-997	47	11	regarding	regard	VERB
ajfa-997	47	12	the	the	DET
ajfa-997	47	13	impact	impact	NOUN
ajfa-997	47	14	of	of	ADP
ajfa-997	47	15	market	market	NOUN
ajfa-997	47	16	crashes	crash	NOUN
ajfa-997	47	17	on	on	ADP
ajfa-997	47	18	market	market	NOUN
ajfa-997	47	19	anomalies	anomaly	NOUN
ajfa-997	47	20	,	,	PUNCT
ajfa-997	47	21	particularly	particularly	ADV
ajfa-997	47	22	calendar	calendar	NOUN
ajfa-997	47	23	effects	effect	NOUN
ajfa-997	47	24	.	.	PUNCT
ajfa-997	48	1	most	most	ADJ
ajfa-997	48	2	studies	study	NOUN
ajfa-997	48	3	tend	tend	VERB
ajfa-997	48	4	to	to	PART
ajfa-997	48	5	regard	regard	VERB
ajfa-997	48	6	market	market	NOUN
ajfa-997	48	7	crashes	crash	NOUN
ajfa-997	48	8	as	as	ADP
ajfa-997	48	9	aberrations	aberration	NOUN
ajfa-997	48	10	or	or	CCONJ
ajfa-997	48	11	outliers	outlier	NOUN
ajfa-997	48	12	,	,	PUNCT
ajfa-997	48	13	and	and	CCONJ
ajfa-997	48	14	remove	remove	VERB
ajfa-997	48	15	them	they	PRON
ajfa-997	48	16	from	from	ADP
ajfa-997	48	17	consideration	consideration	NOUN
ajfa-997	48	18	when	when	SCONJ
ajfa-997	48	19	investigating	investigate	VERB
ajfa-997	48	20	market	market	NOUN
ajfa-997	48	21	anomalies	anomaly	NOUN
ajfa-997	48	22	.	.	PUNCT
ajfa-997	49	1	the	the	DET
ajfa-997	49	2	present	present	ADJ
ajfa-997	49	3	study	study	NOUN
ajfa-997	49	4	examines	examine	VERB
ajfa-997	49	5	the	the	DET
ajfa-997	49	6	interplay	interplay	NOUN
ajfa-997	49	7	between	between	ADP
ajfa-997	49	8	market	market	NOUN
ajfa-997	49	9	crashes	crash	NOUN
ajfa-997	49	10	and	and	CCONJ
ajfa-997	49	11	the	the	DET
ajfa-997	49	12	asian	asian	ADJ
ajfa-997	49	13	journal	journal	NOUN
ajfa-997	49	14	of	of	ADP
ajfa-997	49	15	finance	finance	PROPN
ajfa-997	49	16	&	&	CCONJ
ajfa-997	49	17	accounting	accounting	PROPN
ajfa-997	49	18	issn	issn	PROPN
ajfa-997	49	19	1946	1946	NUM
ajfa-997	49	20	-	-	PUNCT
ajfa-997	49	21	052x	052x	NOUN
ajfa-997	49	22	2011	2011	NUM
ajfa-997	49	23	,	,	PUNCT
ajfa-997	49	24	vol	vol	NOUN
ajfa-997	49	25	.	.	PROPN
ajfa-997	50	1	3	3	NUM
ajfa-997	50	2	,	,	PUNCT
ajfa-997	50	3	no	no	INTJ
ajfa-997	50	4	.	.	NOUN
ajfa-997	50	5	1	1	NUM
ajfa-997	50	6	:	:	SYM
ajfa-997	50	7	e11	e11	X
ajfa-997	50	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-997	50	9	177	177	NUM
ajfa-997	50	10	month	month	NOUN
ajfa-997	50	11	-	-	PUNCT
ajfa-997	50	12	of	of	ADP
ajfa-997	50	13	-	-	PUNCT
ajfa-997	50	14	the	the	DET
ajfa-997	50	15	-	-	PUNCT
ajfa-997	50	16	year	year	NOUN
ajfa-997	50	17	effect	effect	NOUN
ajfa-997	50	18	in	in	ADP
ajfa-997	50	19	indian	indian	ADJ
ajfa-997	50	20	stock	stock	NOUN
ajfa-997	50	21	markets	market	NOUN
ajfa-997	50	22	.	.	PUNCT
ajfa-997	51	1	data	datum	NOUN
ajfa-997	51	2	and	and	CCONJ
ajfa-997	51	3	methodology	methodology	NOUN
ajfa-997	51	4	the	the	DET
ajfa-997	51	5	present	present	ADJ
ajfa-997	51	6	study	study	NOUN
ajfa-997	51	7	focuses	focus	VERB
ajfa-997	51	8	on	on	ADP
ajfa-997	51	9	the	the	DET
ajfa-997	51	10	monthly	monthly	ADJ
ajfa-997	51	11	patterns	pattern	NOUN
ajfa-997	51	12	of	of	ADP
ajfa-997	51	13	returns	return	NOUN
ajfa-997	51	14	in	in	ADP
ajfa-997	51	15	the	the	DET
ajfa-997	51	16	indian	indian	ADJ
ajfa-997	51	17	stock	stock	NOUN
ajfa-997	51	18	market	market	NOUN
ajfa-997	51	19	,	,	PUNCT
ajfa-997	51	20	specifically	specifically	ADV
ajfa-997	51	21	the	the	DET
ajfa-997	51	22	bombay	bombay	PROPN
ajfa-997	51	23	stock	stock	PROPN
ajfa-997	51	24	exchange	exchange	PROPN
ajfa-997	51	25	(	(	PUNCT
ajfa-997	51	26	bse	bse	PROPN
ajfa-997	51	27	)	)	PUNCT
ajfa-997	51	28	.	.	PUNCT
ajfa-997	52	1	to	to	PART
ajfa-997	52	2	avoid	avoid	VERB
ajfa-997	52	3	distortions	distortion	NOUN
ajfa-997	52	4	due	due	ADP
ajfa-997	52	5	to	to	ADP
ajfa-997	52	6	size	size	NOUN
ajfa-997	52	7	effects	effect	NOUN
ajfa-997	52	8	,	,	PUNCT
ajfa-997	52	9	it	it	PRON
ajfa-997	52	10	is	be	AUX
ajfa-997	52	11	appropriate	appropriate	ADJ
ajfa-997	52	12	to	to	PART
ajfa-997	52	13	use	use	VERB
ajfa-997	52	14	a	a	DET
ajfa-997	52	15	value	value	NOUN
ajfa-997	52	16	-	-	PUNCT
ajfa-997	52	17	weighted	weight	VERB
ajfa-997	52	18	index	index	NOUN
ajfa-997	52	19	to	to	PART
ajfa-997	52	20	detect	detect	VERB
ajfa-997	52	21	the	the	DET
ajfa-997	52	22	seasonal	seasonal	ADJ
ajfa-997	52	23	effect	effect	NOUN
ajfa-997	52	24	in	in	ADP
ajfa-997	52	25	stock	stock	NOUN
ajfa-997	52	26	returns	return	NOUN
ajfa-997	52	27	.	.	PUNCT
ajfa-997	53	1	bse	bse	PROPN
ajfa-997	53	2	’s	’s	PART
ajfa-997	53	3	sensitivity	sensitivity	NOUN
ajfa-997	53	4	index	index	NOUN
ajfa-997	53	5	(	(	PUNCT
ajfa-997	53	6	sensex	sensex	NOUN
ajfa-997	53	7	)	)	PUNCT
ajfa-997	53	8	is	be	AUX
ajfa-997	53	9	such	such	DET
ajfa-997	53	10	a	a	DET
ajfa-997	53	11	value	value	NOUN
ajfa-997	53	12	-	-	PUNCT
ajfa-997	53	13	weighted	weight	VERB
ajfa-997	53	14	share	share	NOUN
ajfa-997	53	15	price	price	NOUN
ajfa-997	53	16	index	index	NOUN
ajfa-997	53	17	,	,	PUNCT
ajfa-997	53	18	including	include	VERB
ajfa-997	53	19	the	the	DET
ajfa-997	53	20	thirty	thirty	NUM
ajfa-997	53	21	most	most	ADV
ajfa-997	53	22	actively	actively	ADV
ajfa-997	53	23	traded	trade	VERB
ajfa-997	53	24	shares	share	NOUN
ajfa-997	53	25	on	on	ADP
ajfa-997	53	26	the	the	DET
ajfa-997	53	27	bse	bse	NOUN
ajfa-997	53	28	,	,	PUNCT
ajfa-997	53	29	weighted	weight	VERB
ajfa-997	53	30	by	by	ADP
ajfa-997	53	31	their	their	PRON
ajfa-997	53	32	market	market	NOUN
ajfa-997	53	33	capitalizations	capitalization	NOUN
ajfa-997	53	34	(	(	PUNCT
ajfa-997	53	35	pandey	pandey	PROPN
ajfa-997	53	36	,	,	PUNCT
ajfa-997	53	37	2002	2002	NUM
ajfa-997	53	38	)	)	PUNCT
ajfa-997	53	39	.	.	PUNCT
ajfa-997	54	1	the	the	DET
ajfa-997	54	2	study	study	NOUN
ajfa-997	54	3	uses	use	VERB
ajfa-997	54	4	historical	historical	ADJ
ajfa-997	54	5	data	datum	NOUN
ajfa-997	54	6	covering	cover	VERB
ajfa-997	54	7	the	the	DET
ajfa-997	54	8	post	post	ADJ
ajfa-997	54	9	-	-	ADJ
ajfa-997	54	10	reform	reform	ADJ
ajfa-997	54	11	period	period	NOUN
ajfa-997	54	12	,	,	PUNCT
ajfa-997	54	13	leading	lead	VERB
ajfa-997	54	14	up	up	ADP
ajfa-997	54	15	to	to	ADP
ajfa-997	54	16	the	the	DET
ajfa-997	54	17	global	global	ADJ
ajfa-997	54	18	financial	financial	ADJ
ajfa-997	54	19	crisis	crisis	NOUN
ajfa-997	54	20	in	in	ADP
ajfa-997	54	21	the	the	DET
ajfa-997	54	22	third	third	ADJ
ajfa-997	54	23	quarter	quarter	NOUN
ajfa-997	54	24	of	of	ADP
ajfa-997	54	25	2007	2007	NUM
ajfa-997	54	26	.	.	PUNCT
ajfa-997	55	1	the	the	DET
ajfa-997	55	2	data	datum	NOUN
ajfa-997	55	3	used	use	VERB
ajfa-997	55	4	for	for	ADP
ajfa-997	55	5	the	the	DET
ajfa-997	55	6	study	study	NOUN
ajfa-997	55	7	were	be	AUX
ajfa-997	55	8	the	the	DET
ajfa-997	55	9	monthly	monthly	ADJ
ajfa-997	55	10	closing	closing	NOUN
ajfa-997	55	11	sensex	sensex	NOUN
ajfa-997	55	12	values	value	NOUN
ajfa-997	55	13	in	in	ADP
ajfa-997	55	14	the	the	DET
ajfa-997	55	15	period	period	NOUN
ajfa-997	55	16	april	april	PROPN
ajfa-997	55	17	1999	1999	NUM
ajfa-997	55	18	to	to	ADP
ajfa-997	55	19	march	march	PROPN
ajfa-997	55	20	2007	2007	NUM
ajfa-997	55	21	,	,	PUNCT
ajfa-997	55	22	collected	collect	VERB
ajfa-997	55	23	from	from	ADP
ajfa-997	55	24	the	the	DET
ajfa-997	55	25	bse	bse	NOUN
ajfa-997	55	26	website3	website3	PROPN
ajfa-997	55	27	.	.	PUNCT
ajfa-997	56	1	monthly	monthly	ADJ
ajfa-997	56	2	returns	return	NOUN
ajfa-997	56	3	were	be	AUX
ajfa-997	56	4	calculated	calculate	VERB
ajfa-997	56	5	as	as	ADP
ajfa-997	56	6	the	the	DET
ajfa-997	56	7	continuously	continuously	ADV
ajfa-997	56	8	compounded	compound	VERB
ajfa-997	56	9	monthly	monthly	ADJ
ajfa-997	56	10	percentage	percentage	NOUN
ajfa-997	56	11	change	change	NOUN
ajfa-997	56	12	in	in	ADP
ajfa-997	56	13	the	the	DET
ajfa-997	56	14	closing	closing	NOUN
ajfa-997	56	15	sensex	sensex	NOUN
ajfa-997	56	16	values	value	NOUN
ajfa-997	56	17	,	,	PUNCT
ajfa-997	56	18	using	use	VERB
ajfa-997	56	19	the	the	DET
ajfa-997	56	20	formula	formula	NOUN
ajfa-997	56	21	:	:	PUNCT
ajfa-997	56	22	,	,	PUNCT
ajfa-997	56	23	where	where	SCONJ
ajfa-997	56	24	rt	rt	PROPN
ajfa-997	56	25	represents	represent	VERB
ajfa-997	56	26	the	the	DET
ajfa-997	56	27	monthly	monthly	ADJ
ajfa-997	56	28	returns	return	NOUN
ajfa-997	56	29	in	in	ADP
ajfa-997	56	30	period	period	NOUN
ajfa-997	56	31	t	t	PROPN
ajfa-997	56	32	,	,	PUNCT
ajfa-997	56	33	and	and	CCONJ
ajfa-997	56	34	pt	pt	NOUN
ajfa-997	56	35	represents	represent	VERB
ajfa-997	56	36	monthly	monthly	ADJ
ajfa-997	56	37	closing	closing	NOUN
ajfa-997	56	38	sensex	sensex	NOUN
ajfa-997	56	39	value	value	NOUN
ajfa-997	56	40	for	for	ADP
ajfa-997	56	41	period	period	NOUN
ajfa-997	56	42	t.	t.	NOUN
ajfa-997	57	1	the	the	DET
ajfa-997	57	2	market	market	NOUN
ajfa-997	57	3	crashes	crash	NOUN
ajfa-997	57	4	considered	consider	VERB
ajfa-997	57	5	for	for	ADP
ajfa-997	57	6	the	the	DET
ajfa-997	57	7	study	study	NOUN
ajfa-997	57	8	were	be	AUX
ajfa-997	57	9	as	as	SCONJ
ajfa-997	57	10	follows	follow	VERB
ajfa-997	57	11	:	:	PUNCT
ajfa-997	57	12	apr’00	apr’00	ADJ
ajfa-997	57	13	,	,	PUNCT
ajfa-997	57	14	jul’00	jul’00	ADJ
ajfa-997	57	15	,	,	PUNCT
ajfa-997	57	16	oct’00	oct’00	ADJ
ajfa-997	57	17	,	,	PUNCT
ajfa-997	57	18	mar’01	mar’01	PROPN
ajfa-997	57	19	,	,	PUNCT
ajfa-997	57	20	sep’01	sep’01	PROPN
ajfa-997	57	21	,	,	PUNCT
ajfa-997	57	22	may’04	may’04	PROPN
ajfa-997	57	23	,	,	PUNCT
ajfa-997	57	24	oct’05	oct’05	PROPN
ajfa-997	57	25	,	,	PUNCT
ajfa-997	57	26	may’06	may’06	PROPN
ajfa-997	57	27	,	,	PUNCT
ajfa-997	57	28	and	and	CCONJ
ajfa-997	57	29	feb’07	feb’07	PROPN
ajfa-997	57	30	.	.	PUNCT
ajfa-997	58	1	the	the	DET
ajfa-997	58	2	study	study	NOUN
ajfa-997	58	3	tests	test	VERB
ajfa-997	58	4	for	for	ADP
ajfa-997	58	5	seasonality	seasonality	NOUN
ajfa-997	58	6	and	and	CCONJ
ajfa-997	58	7	market	market	NOUN
ajfa-997	58	8	crash	crash	NOUN
ajfa-997	58	9	effects	effect	NOUN
ajfa-997	58	10	using	use	VERB
ajfa-997	58	11	dummy	dummy	ADJ
ajfa-997	58	12	variable	variable	ADJ
ajfa-997	58	13	regression	regression	NOUN
ajfa-997	58	14	.	.	PUNCT
ajfa-997	59	1	monthly	monthly	ADJ
ajfa-997	59	2	returns	return	NOUN
ajfa-997	59	3	are	be	AUX
ajfa-997	59	4	taken	take	VERB
ajfa-997	59	5	as	as	ADP
ajfa-997	59	6	the	the	DET
ajfa-997	59	7	dependent	dependent	ADJ
ajfa-997	59	8	variable	variable	NOUN
ajfa-997	59	9	,	,	PUNCT
ajfa-997	59	10	and	and	CCONJ
ajfa-997	59	11	dummy	dummy	ADJ
ajfa-997	59	12	variables	variable	NOUN
ajfa-997	59	13	for	for	ADP
ajfa-997	59	14	each	each	DET
ajfa-997	59	15	month	month	NOUN
ajfa-997	59	16	and	and	CCONJ
ajfa-997	59	17	each	each	DET
ajfa-997	59	18	market	market	NOUN
ajfa-997	59	19	crash	crash	NOUN
ajfa-997	59	20	are	be	AUX
ajfa-997	59	21	taken	take	VERB
ajfa-997	59	22	as	as	ADP
ajfa-997	59	23	the	the	DET
ajfa-997	59	24	independent	independent	ADJ
ajfa-997	59	25	variables	variable	NOUN
ajfa-997	59	26	;	;	PUNCT
ajfa-997	59	27	i.e.	i.e.	X
ajfa-997	59	28	,	,	PUNCT
ajfa-997	59	29	where	where	SCONJ
ajfa-997	59	30	the	the	DET
ajfa-997	59	31	mi	mi	PROPN
ajfa-997	59	32	represent	represent	VERB
ajfa-997	59	33	the	the	DET
ajfa-997	59	34	dummy	dummy	ADJ
ajfa-997	59	35	variables	variable	NOUN
ajfa-997	59	36	for	for	ADP
ajfa-997	59	37	each	each	DET
ajfa-997	59	38	month	month	NOUN
ajfa-997	59	39	,	,	PUNCT
ajfa-997	59	40	while	while	SCONJ
ajfa-997	59	41	the	the	DET
ajfa-997	59	42	cj	cj	NOUN
ajfa-997	59	43	represent	represent	VERB
ajfa-997	59	44	the	the	DET
ajfa-997	59	45	dummy	dummy	ADJ
ajfa-997	59	46	variables	variable	NOUN
ajfa-997	59	47	for	for	ADP
ajfa-997	59	48	each	each	DET
ajfa-997	59	49	market	market	NOUN
ajfa-997	59	50	crash	crash	NOUN
ajfa-997	59	51	.	.	PUNCT
ajfa-997	60	1	the	the	DET
ajfa-997	60	2	significance	significance	NOUN
ajfa-997	60	3	of	of	ADP
ajfa-997	60	4	the	the	DET
ajfa-997	60	5	coefficients	coefficient	NOUN
ajfa-997	60	6	βi	βi	PRON
ajfa-997	60	7	and	and	CCONJ
ajfa-997	60	8	γj	γj	ADP
ajfa-997	60	9	in	in	ADP
ajfa-997	60	10	the	the	DET
ajfa-997	60	11	regression	regression	NOUN
ajfa-997	60	12	indicate	indicate	VERB
ajfa-997	60	13	significance	significance	NOUN
ajfa-997	60	14	of	of	ADP
ajfa-997	60	15	the	the	DET
ajfa-997	60	16	monthly	monthly	ADJ
ajfa-997	60	17	effects	effect	NOUN
ajfa-997	60	18	and	and	CCONJ
ajfa-997	60	19	the	the	DET
ajfa-997	60	20	crash	crash	NOUN
ajfa-997	60	21	effects	effect	NOUN
ajfa-997	60	22	,	,	PUNCT
ajfa-997	60	23	respectively	respectively	ADV
ajfa-997	60	24	.	.	PUNCT
ajfa-997	61	1	in	in	ADP
ajfa-997	61	2	order	order	NOUN
ajfa-997	61	3	to	to	PART
ajfa-997	61	4	avoid	avoid	VERB
ajfa-997	61	5	the	the	DET
ajfa-997	61	6	problem	problem	NOUN
ajfa-997	61	7	of	of	ADP
ajfa-997	61	8	spurious	spurious	ADJ
ajfa-997	61	9	regression	regression	NOUN
ajfa-997	61	10	,	,	PUNCT
ajfa-997	61	11	the	the	DET
ajfa-997	61	12	sensex	sensex	NOUN
ajfa-997	61	13	returns	return	NOUN
ajfa-997	61	14	series	series	NOUN
ajfa-997	61	15	has	have	VERB
ajfa-997	61	16	to	to	PART
ajfa-997	61	17	be	be	AUX
ajfa-997	61	18	tested	test	VERB
ajfa-997	61	19	for	for	ADP
ajfa-997	61	20	stationarity	stationarity	NOUN
ajfa-997	61	21	.	.	PUNCT
ajfa-997	62	1	this	this	PRON
ajfa-997	62	2	is	be	AUX
ajfa-997	62	3	done	do	VERB
ajfa-997	62	4	using	use	VERB
ajfa-997	62	5	the	the	DET
ajfa-997	62	6	augmented	augment	VERB
ajfa-997	62	7	dickey	dickey	NOUN
ajfa-997	62	8	-	-	PUNCT
ajfa-997	62	9	fuller	full	ADJ
ajfa-997	62	10	(	(	PUNCT
ajfa-997	62	11	adf	adf	NOUN
ajfa-997	62	12	)	)	PUNCT
ajfa-997	62	13	test	test	NOUN
ajfa-997	62	14	for	for	ADP
ajfa-997	62	15	unit	unit	NOUN
ajfa-997	62	16	roots	root	NOUN
ajfa-997	62	17	,	,	PUNCT
ajfa-997	62	18	which	which	PRON
ajfa-997	62	19	involves	involve	VERB
ajfa-997	62	20	regressing	regress	VERB
ajfa-997	62	21	the	the	DET
ajfa-997	62	22	first	first	ADJ
ajfa-997	62	23	difference	difference	NOUN
ajfa-997	62	24	of	of	ADP
ajfa-997	62	25	the	the	DET
ajfa-997	62	26	series	series	NOUN
ajfa-997	62	27	against	against	ADP
ajfa-997	62	28	a	a	DET
ajfa-997	62	29	constant	constant	ADJ
ajfa-997	62	30	term	term	NOUN
ajfa-997	62	31	,	,	PUNCT
ajfa-997	62	32	a	a	DET
ajfa-997	62	33	time	time	NOUN
ajfa-997	62	34	trend	trend	NOUN
ajfa-997	62	35	,	,	PUNCT
ajfa-997	62	36	the	the	DET
ajfa-997	62	37	series	series	NOUN
ajfa-997	62	38	lagged	lag	VERB
ajfa-997	62	39	one	one	NUM
ajfa-997	62	40	period	period	NOUN
ajfa-997	62	41	,	,	PUNCT
ajfa-997	62	42	and	and	CCONJ
ajfa-997	62	43	the	the	DET
ajfa-997	62	44	differenced	differenced	ADJ
ajfa-997	62	45	series	series	NOUN
ajfa-997	62	46	at	at	ADP
ajfa-997	62	47	n	n	NUM
ajfa-997	62	48	lag	lag	NOUN
ajfa-997	62	49	lengths	length	NOUN
ajfa-997	62	50	(	(	PUNCT
ajfa-997	62	51	elliot	elliot	PROPN
ajfa-997	62	52	et	et	PROPN
ajfa-997	62	53	al	al	PROPN
ajfa-997	62	54	,	,	PUNCT
ajfa-997	62	55	1996	1996	NUM
ajfa-997	62	56	)	)	PUNCT
ajfa-997	62	57	;	;	PUNCT
ajfa-997	62	58	symbolically	symbolically	ADV
ajfa-997	62	59	:	:	PUNCT
ajfa-997	62	60	.	.	PUNCT
ajfa-997	63	1	if	if	SCONJ
ajfa-997	63	2	the	the	DET
ajfa-997	63	3	coefficient	coefficient	NOUN
ajfa-997	63	4	γ	γ	NOUN
ajfa-997	63	5	is	be	AUX
ajfa-997	63	6	statistically	statistically	ADV
ajfa-997	63	7	significantly	significantly	ADV
ajfa-997	63	8	and	and	CCONJ
ajfa-997	63	9	negative	negative	ADJ
ajfa-997	63	10	,	,	PUNCT
ajfa-997	63	11	then	then	ADV
ajfa-997	63	12	the	the	DET
ajfa-997	63	13	hypothesis	hypothesis	NOUN
ajfa-997	63	14	that	that	PRON
ajfa-997	63	15	rt	rt	PROPN
ajfa-997	63	16	is	be	AUX
ajfa-997	63	17	nonstationary	nonstationary	ADJ
ajfa-997	63	18	(	(	PUNCT
ajfa-997	63	19	specifically	specifically	ADV
ajfa-997	63	20	,	,	PUNCT
ajfa-997	63	21	having	have	VERB
ajfa-997	63	22	a	a	DET
ajfa-997	63	23	unit	unit	NOUN
ajfa-997	63	24	root	root	NOUN
ajfa-997	63	25	)	)	PUNCT
ajfa-997	63	26	is	be	AUX
ajfa-997	63	27	rejected	reject	VERB
ajfa-997	63	28	.	.	PUNCT
ajfa-997	64	1	the	the	DET
ajfa-997	64	2	adf	adf	PROPN
ajfa-997	64	3	test	test	NOUN
ajfa-997	64	4	can	can	AUX
ajfa-997	64	5	be	be	AUX
ajfa-997	64	6	carried	carry	VERB
ajfa-997	64	7	out	out	ADP
ajfa-997	64	8	with	with	ADP
ajfa-997	64	9	and/or	and/or	CCONJ
ajfa-997	64	10	without	without	ADP
ajfa-997	64	11	the	the	DET
ajfa-997	64	12	constant	constant	ADJ
ajfa-997	64	13	and/or	and/or	CCONJ
ajfa-997	64	14	trend	trend	NOUN
ajfa-997	64	15	;	;	PUNCT
ajfa-997	64	16	one	one	PRON
ajfa-997	64	17	has	have	VERB
ajfa-997	64	18	to	to	PART
ajfa-997	64	19	choose	choose	VERB
ajfa-997	64	20	the	the	DET
ajfa-997	64	21	appropriate	appropriate	ADJ
ajfa-997	64	22	lag	lag	NOUN
ajfa-997	64	23	length	length	NOUN
ajfa-997	64	24	m.	m.	NOUN
ajfa-997	64	25	analysis	analysis	NOUN
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ajfa-997	64	29	a	a	DET
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ajfa-997	64	32	,	,	PUNCT
ajfa-997	64	33	anova	anova	PROPN
ajfa-997	64	34	was	be	AUX
ajfa-997	64	35	performed	perform	VERB
ajfa-997	64	36	to	to	PART
ajfa-997	64	37	test	test	VERB
ajfa-997	64	38	for	for	ADP
ajfa-997	64	39	differences	difference	NOUN
ajfa-997	64	40	in	in	ADP
ajfa-997	64	41	mean	mean	NOUN
ajfa-997	64	42	monthly	monthly	ADJ
ajfa-997	64	43	3	3	NUM
ajfa-997	64	44	www.bseindia.com	www.bseindia.com	NUM
ajfa-997	64	45	asian	asian	ADJ
ajfa-997	64	46	journal	journal	PROPN
ajfa-997	64	47	of	of	ADP
ajfa-997	64	48	finance	finance	PROPN
ajfa-997	64	49	&	&	CCONJ
ajfa-997	64	50	accounting	accounting	PROPN
ajfa-997	64	51	issn	issn	PROPN
ajfa-997	64	52	1946	1946	NUM
ajfa-997	64	53	-	-	PUNCT
ajfa-997	64	54	052x	052x	NOUN
ajfa-997	64	55	2011	2011	NUM
ajfa-997	64	56	,	,	PUNCT
ajfa-997	64	57	vol	vol	NOUN
ajfa-997	64	58	.	.	PROPN
ajfa-997	65	1	3	3	NUM
ajfa-997	65	2	,	,	PUNCT
ajfa-997	65	3	no	no	INTJ
ajfa-997	65	4	.	.	NOUN
ajfa-997	65	5	1	1	NUM
ajfa-997	65	6	:	:	SYM
ajfa-997	65	7	e11	e11	X
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ajfa-997	65	9	178	178	NUM
ajfa-997	65	10	returns	return	NOUN
ajfa-997	65	11	between	between	ADP
ajfa-997	65	12	different	different	ADJ
ajfa-997	65	13	months	month	NOUN
ajfa-997	65	14	.	.	PUNCT
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ajfa-997	66	2	results	result	NOUN
ajfa-997	66	3	are	be	AUX
ajfa-997	66	4	presented	present	VERB
ajfa-997	66	5	in	in	ADP
ajfa-997	66	6	table	table	NOUN
ajfa-997	66	7	1	1	NUM
ajfa-997	66	8	below	below	ADV
ajfa-997	66	9	.	.	PUNCT
ajfa-997	67	1	table	table	NOUN
ajfa-997	67	2	1	1	NUM
ajfa-997	67	3	.	.	PUNCT
ajfa-997	68	1	anova	anova	PROPN
ajfa-997	68	2	test	test	VERB
ajfa-997	68	3	for	for	ADP
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ajfa-997	68	5	in	in	ADP
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ajfa-997	68	7	monthly	monthly	ADJ
ajfa-997	68	8	returns	return	NOUN
ajfa-997	68	9	between	between	ADP
ajfa-997	68	10	different	different	ADJ
ajfa-997	68	11	months	month	NOUN
ajfa-997	68	12	descriptive	descriptive	ADJ
ajfa-997	68	13	statistics	statistic	NOUN
ajfa-997	68	14	for	for	ADP
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ajfa-997	68	16	return	return	NOUN
ajfa-997	68	17	month	month	NOUN
ajfa-997	68	18	mean	mean	NOUN
ajfa-997	68	19	std	std	PROPN
ajfa-997	68	20	.	.	PROPN
ajfa-997	68	21	dev	dev	PROPN
ajfa-997	68	22	.	.	PUNCT
ajfa-997	69	1	january	january	PROPN
ajfa-997	69	2	1.8127	1.8127	NUM
ajfa-997	69	3	%	%	NOUN
ajfa-997	69	4	4.13377	4.13377	NUM
ajfa-997	69	5	%	%	NOUN
ajfa-997	69	6	february	february	PROPN
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ajfa-997	69	8	%	%	NOUN
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ajfa-997	69	10	%	%	NOUN
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ajfa-997	69	13	%	%	NOUN
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ajfa-997	69	15	%	%	NOUN
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ajfa-997	70	1	%	%	NOUN
ajfa-997	70	2	4.56146	4.56146	NUM
ajfa-997	70	3	%	%	NOUN
ajfa-997	70	4	may	may	AUX
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ajfa-997	70	6	%	%	NOUN
ajfa-997	70	7	12.07133	12.07133	NUM
ajfa-997	70	8	%	%	NOUN
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ajfa-997	70	11	%	%	NOUN
ajfa-997	70	12	5.13898	5.13898	NUM
ajfa-997	70	13	%	%	NOUN
ajfa-997	70	14	july	july	PROPN
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ajfa-997	70	16	%	%	NOUN
ajfa-997	70	17	7.45880	7.45880	NUM
ajfa-997	70	18	%	%	NOUN
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ajfa-997	70	21	%	%	NOUN
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ajfa-997	70	23	%	%	NOUN
ajfa-997	70	24	september	september	PROPN
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ajfa-997	70	26	%	%	NOUN
ajfa-997	70	27	8.84573	8.84573	NUM
ajfa-997	70	28	%	%	NOUN
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ajfa-997	70	31	%	%	NOUN
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ajfa-997	71	2	%	%	NOUN
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ajfa-997	71	5	%	%	NOUN
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ajfa-997	71	7	%	%	NOUN
ajfa-997	71	8	december	december	PROPN
ajfa-997	71	9	4.8462	4.8462	NUM
ajfa-997	71	10	%	%	NOUN
ajfa-997	71	11	5.19512	5.19512	NUM
ajfa-997	71	12	%	%	NOUN
ajfa-997	71	13	overall	overall	ADJ
ajfa-997	71	14	1.4408	1.4408	NUM
ajfa-997	71	15	%	%	NOUN
ajfa-997	71	16	7.01023	7.01023	NUM
ajfa-997	71	17	%	%	NOUN
ajfa-997	71	18	f	f	NOUN
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ajfa-997	71	35	hoc	hoc	X
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ajfa-997	71	44	1	1	NUM
ajfa-997	71	45	subset	subset	NOUN
ajfa-997	71	46	2	2	NUM
ajfa-997	71	47	subset	subset	NOUN
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ajfa-997	71	50	-3.7858	-3.7858	NOUN
ajfa-997	71	51	%	%	NOUN
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ajfa-997	72	1	%	%	PROPN
ajfa-997	72	2	-1.9988	-1.9988	NOUN
ajfa-997	72	3	%	%	NOUN
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ajfa-997	72	6	%	%	NOUN
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ajfa-997	72	8	%	%	NOUN
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ajfa-997	73	1	%	%	NOUN
ajfa-997	73	2	-0.7107	-0.7107	ADP
ajfa-997	73	3	%	%	NOUN
ajfa-997	73	4	september	september	PROPN
ajfa-997	73	5	-0.4850	-0.4850	NOUN
ajfa-997	74	1	%	%	NOUN
ajfa-997	74	2	-0.4850	-0.4850	NOUN
ajfa-997	74	3	%	%	NOUN
ajfa-997	74	4	july	july	PROPN
ajfa-997	74	5	0.8260	0.8260	NUM
ajfa-997	74	6	%	%	NOUN
ajfa-997	74	7	0.8260	0.8260	NUM
ajfa-997	74	8	%	%	NOUN
ajfa-997	74	9	0.8260	0.8260	NUM
ajfa-997	74	10	%	%	NOUN
ajfa-997	74	11	february	february	PROPN
ajfa-997	74	12	1.1003	1.1003	NUM
ajfa-997	74	13	%	%	NOUN
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ajfa-997	74	15	%	%	NOUN
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ajfa-997	74	17	%	%	NOUN
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ajfa-997	74	20	%	%	NOUN
ajfa-997	74	21	1.8127	1.8127	NUM
ajfa-997	74	22	%	%	NOUN
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ajfa-997	74	24	%	%	NOUN
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ajfa-997	74	27	%	%	NOUN
ajfa-997	75	1	4.0319	4.0319	NUM
ajfa-997	75	2	%	%	NOUN
ajfa-997	75	3	4.0319	4.0319	NUM
ajfa-997	75	4	%	%	NOUN
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ajfa-997	75	7	%	%	NOUN
ajfa-997	75	8	4.7709	4.7709	NUM
ajfa-997	75	9	%	%	NOUN
ajfa-997	75	10	december	december	PROPN
ajfa-997	75	11	4.8462	4.8462	NUM
ajfa-997	75	12	%	%	NOUN
ajfa-997	75	13	4.8462	4.8462	NUM
ajfa-997	75	14	%	%	NOUN
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ajfa-997	75	17	%	%	NOUN
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ajfa-997	75	19	-	-	PUNCT
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ajfa-997	75	35	be	be	AUX
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ajfa-997	75	38	,	,	PUNCT
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ajfa-997	75	40	that	that	SCONJ
ajfa-997	75	41	there	there	PRON
ajfa-997	75	42	was	be	VERB
ajfa-997	75	43	no	no	DET
ajfa-997	75	44	significant	significant	ADJ
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ajfa-997	75	46	in	in	ADP
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ajfa-997	75	49	returns	return	NOUN
ajfa-997	75	50	between	between	ADP
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ajfa-997	75	53	,	,	PUNCT
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ajfa-997	75	55	no	no	DET
ajfa-997	75	56	seasonal	seasonal	ADJ
ajfa-997	75	57	effect	effect	NOUN
ajfa-997	75	58	.	.	PUNCT
ajfa-997	76	1	however	however	ADV
ajfa-997	76	2	,	,	PUNCT
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ajfa-997	76	4	’s	’s	PART
ajfa-997	76	5	post	post	X
ajfa-997	76	6	hoc	hoc	X
ajfa-997	76	7	test	test	NOUN
ajfa-997	76	8	indicated	indicate	VERB
ajfa-997	76	9	that	that	SCONJ
ajfa-997	76	10	march	march	PROPN
ajfa-997	76	11	returns	return	NOUN
ajfa-997	76	12	were	be	AUX
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ajfa-997	76	17	of	of	ADP
ajfa-997	76	18	november	november	PROPN
ajfa-997	76	19	,	,	PUNCT
ajfa-997	76	20	december	december	PROPN
ajfa-997	76	21	,	,	PUNCT
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ajfa-997	76	23	august	august	PROPN
ajfa-997	76	24	;	;	PUNCT
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ajfa-997	76	27	november	november	PROPN
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ajfa-997	76	29	were	be	AUX
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ajfa-997	76	32	than	than	ADP
ajfa-997	76	33	those	those	PRON
ajfa-997	76	34	of	of	ADP
ajfa-997	76	35	march	march	PROPN
ajfa-997	76	36	,	,	PUNCT
ajfa-997	76	37	april	april	PROPN
ajfa-997	76	38	,	,	PUNCT
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ajfa-997	76	40	,	,	PUNCT
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ajfa-997	76	42	,	,	PUNCT
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ajfa-997	76	44	september	september	PROPN
ajfa-997	76	45	.	.	PUNCT
ajfa-997	77	1	thus	thus	ADV
ajfa-997	77	2	,	,	PUNCT
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ajfa-997	77	4	was	be	VERB
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ajfa-997	77	6	to	to	PART
ajfa-997	77	7	be	be	AUX
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ajfa-997	77	11	in	in	ADP
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ajfa-997	77	13	returns	return	NOUN
ajfa-997	77	14	.	.	PUNCT
ajfa-997	78	1	to	to	PART
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ajfa-997	78	14	-	-	PUNCT
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ajfa-997	78	19	.	.	PUNCT
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ajfa-997	79	7	2	2	NUM
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ajfa-997	79	9	.	.	PUNCT
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ajfa-997	80	6	accounting	accounting	PROPN
ajfa-997	80	7	issn	issn	PROPN
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ajfa-997	80	9	-	-	PUNCT
ajfa-997	80	10	052x	052x	NOUN
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ajfa-997	80	12	,	,	PUNCT
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ajfa-997	81	2	,	,	PUNCT
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ajfa-997	81	5	1	1	NUM
ajfa-997	81	6	:	:	SYM
ajfa-997	81	7	e11	e11	X
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ajfa-997	81	12	.	.	PUNCT
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ajfa-997	81	32	(	(	PUNCT
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ajfa-997	81	44	(	(	PUNCT
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ajfa-997	81	47	δrt-3	δrt-3	NUM
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ajfa-997	81	49	(	(	PUNCT
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ajfa-997	81	52	δrt-4	δrt-4	NUM
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ajfa-997	81	54	(	(	PUNCT
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ajfa-997	81	59	(	(	PUNCT
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ajfa-997	81	64	(	(	PUNCT
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ajfa-997	81	89	the	the	DET
ajfa-997	81	90	adf	adf	NOUN
ajfa-997	81	91	test	test	NOUN
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ajfa-997	81	120	be	be	AUX
ajfa-997	81	121	stationary	stationary	ADJ
ajfa-997	81	122	.	.	PUNCT
ajfa-997	82	1	the	the	DET
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ajfa-997	83	1	regression	regression	NOUN
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ajfa-997	83	8	(	(	PUNCT
ajfa-997	83	9	r2	r2	NOUN
ajfa-997	83	10	=	=	PUNCT
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ajfa-997	83	12	%	%	NOUN
ajfa-997	83	13	,	,	PUNCT
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ajfa-997	83	15	=	=	NOUN
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ajfa-997	83	17	,	,	PUNCT
ajfa-997	83	18	p	p	NOUN
ajfa-997	83	19	-	-	PUNCT
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ajfa-997	83	21	=	=	NOUN
ajfa-997	83	22	0.2250	0.2250	NUM
ajfa-997	83	23	)	)	PUNCT
ajfa-997	83	24	.	.	PUNCT
ajfa-997	84	1	the	the	DET
ajfa-997	84	2	results	result	NOUN
ajfa-997	84	3	of	of	ADP
ajfa-997	84	4	the	the	DET
ajfa-997	84	5	three	three	NUM
ajfa-997	84	6	dummy	dummy	ADJ
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ajfa-997	84	8	regressions	regression	NOUN
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ajfa-997	84	14	3	3	NUM
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ajfa-997	84	16	.	.	PUNCT
ajfa-997	85	1	asian	asian	ADJ
ajfa-997	85	2	journal	journal	PROPN
ajfa-997	85	3	of	of	ADP
ajfa-997	85	4	finance	finance	PROPN
ajfa-997	85	5	&	&	CCONJ
ajfa-997	85	6	accounting	accounting	PROPN
ajfa-997	85	7	issn	issn	PROPN
ajfa-997	85	8	1946	1946	NUM
ajfa-997	85	9	-	-	PUNCT
ajfa-997	85	10	052x	052x	NOUN
ajfa-997	85	11	2011	2011	NUM
ajfa-997	85	12	,	,	PUNCT
ajfa-997	85	13	vol	vol	NOUN
ajfa-997	85	14	.	.	PROPN
ajfa-997	86	1	3	3	NUM
ajfa-997	86	2	,	,	PUNCT
ajfa-997	86	3	no	no	INTJ
ajfa-997	86	4	.	.	NOUN
ajfa-997	86	5	1	1	NUM
ajfa-997	86	6	:	:	SYM
ajfa-997	86	7	e11	e11	X
ajfa-997	86	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-997	86	9	180	180	NUM
ajfa-997	86	10	table	table	NOUN
ajfa-997	86	11	3	3	NUM
ajfa-997	86	12	.	.	X
ajfa-997	86	13	dummy	dummy	ADJ
ajfa-997	86	14	variable	variable	ADJ
ajfa-997	86	15	regression	regression	NOUN
ajfa-997	86	16	of	of	ADP
ajfa-997	86	17	monthly	monthly	ADJ
ajfa-997	86	18	returns	return	NOUN
ajfa-997	86	19	model	model	VERB
ajfa-997	86	20	i	i	PRON
ajfa-997	86	21	:	:	PUNCT
ajfa-997	86	22	trend	trend	NOUN
ajfa-997	86	23	+	+	CCONJ
ajfa-997	86	24	seasonality	seasonality	NOUN
ajfa-997	86	25	model	model	NOUN
ajfa-997	86	26	ii	ii	PROPN
ajfa-997	86	27	:	:	PUNCT
ajfa-997	86	28	trend+	trend+	PUNCT
ajfa-997	86	29	crashes	crash	VERB
ajfa-997	86	30	model	model	NOUN
ajfa-997	86	31	iii	iii	PROPN
ajfa-997	86	32	:	:	PUNCT
ajfa-997	86	33	trend	trend	NOUN
ajfa-997	86	34	+	+	CCONJ
ajfa-997	86	35	seasonality	seasonality	NOUN
ajfa-997	86	36	+	+	CCONJ
ajfa-997	86	37	crashes	crash	VERB
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ajfa-997	86	40	(	(	PUNCT
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ajfa-997	87	6	(	(	PUNCT
ajfa-997	87	7	0.0290	0.0290	NUM
ajfa-997	87	8	)	)	PUNCT
ajfa-997	87	9	*	*	PUNCT
ajfa-997	87	10	trend	trend	NOUN
ajfa-997	87	11	0.0340	0.0340	NUM
ajfa-997	87	12	(	(	PUNCT
ajfa-997	87	13	0.0880	0.0880	NUM
ajfa-997	87	14	)	)	PUNCT
ajfa-997	87	15	0.0330	0.0330	NUM
ajfa-997	87	16	(	(	PUNCT
ajfa-997	87	17	0.0705	0.0705	NUM
ajfa-997	87	18	)	)	PUNCT
ajfa-997	87	19	0.0450	0.0450	NUM
ajfa-997	87	20	(	(	PUNCT
ajfa-997	87	21	0.0210	0.0210	NUM
ajfa-997	87	22	)	)	PUNCT
ajfa-997	87	23	*	*	PUNCT
ajfa-997	87	24	january	january	PROPN
ajfa-997	87	25	5.6670	5.6670	NUM
ajfa-997	87	26	(	(	PUNCT
ajfa-997	87	27	0.0460	0.0460	NUM
ajfa-997	87	28	)	)	PUNCT
ajfa-997	87	29	*	*	PROPN
ajfa-997	88	1	4.0790	4.0790	NUM
ajfa-997	88	2	(	(	PUNCT
ajfa-997	88	3	0.0720	0.0720	NUM
ajfa-997	88	4	)	)	PUNCT
ajfa-997	88	5	february	february	PROPN
ajfa-997	88	6	4.9200	4.9200	NUM
ajfa-997	88	7	(	(	PUNCT
ajfa-997	88	8	0.0710	0.0710	NUM
ajfa-997	88	9	)	)	PUNCT
ajfa-997	88	10	4.9680	4.9680	NUM
ajfa-997	88	11	(	(	PUNCT
ajfa-997	88	12	0.0435	0.0435	NUM
ajfa-997	88	13	)	)	PUNCT
ajfa-997	88	14	*	*	PUNCT
ajfa-997	89	1	april	april	PROPN
ajfa-997	89	2	1.9580	1.9580	NUM
ajfa-997	89	3	(	(	PUNCT
ajfa-997	89	4	0.2850	0.2850	NUM
ajfa-997	89	5	)	)	PUNCT
ajfa-997	89	6	0.9860	0.9860	NUM
ajfa-997	89	7	(	(	PUNCT
ajfa-997	89	8	0.3705	0.3705	NUM
ajfa-997	89	9	)	)	PUNCT
ajfa-997	89	10	may	may	AUX
ajfa-997	89	11	3.2770	3.2770	NUM
ajfa-997	89	12	(	(	PUNCT
ajfa-997	89	13	0.1640	0.1640	NUM
ajfa-997	89	14	)	)	PUNCT
ajfa-997	89	15	7.2630	7.2630	NUM
ajfa-997	89	16	(	(	PUNCT
ajfa-997	89	17	0.0.095	0.0.095	NOUN
ajfa-997	89	18	)	)	PUNCT
ajfa-997	89	19	*	*	PUNCT
ajfa-997	90	1	*	*	PUNCT
ajfa-997	90	2	june	june	PROPN
ajfa-997	90	3	8.1250	8.1250	NUM
ajfa-997	90	4	(	(	PUNCT
ajfa-997	90	5	0.0085	0.0085	NUM
ajfa-997	90	6	)	)	PUNCT
ajfa-997	90	7	*	*	PUNCT
ajfa-997	91	1	*	*	PUNCT
ajfa-997	92	1	6.6130	6.6130	NUM
ajfa-997	92	2	(	(	PUNCT
ajfa-997	92	3	0.0100	0.0100	NUM
ajfa-997	92	4	)	)	PUNCT
ajfa-997	92	5	*	*	PUNCT
ajfa-997	92	6	july	july	PROPN
ajfa-997	92	7	4.8850	4.8850	NUM
ajfa-997	92	8	(	(	PUNCT
ajfa-997	92	9	0.0730	0.0730	NUM
ajfa-997	92	10	)	)	PUNCT
ajfa-997	92	11	4.7720	4.7720	NUM
ajfa-997	92	12	(	(	PUNCT
ajfa-997	92	13	0.0490	0.0490	NUM
ajfa-997	92	14	)	)	PUNCT
ajfa-997	92	15	*	*	PUNCT
ajfa-997	93	1	august	august	PROPN
ajfa-997	93	2	8.7960	8.7960	NUM
ajfa-997	93	3	(	(	PUNCT
ajfa-997	93	4	0.0050	0.0050	NUM
ajfa-997	93	5	)	)	PUNCT
ajfa-997	93	6	*	*	PUNCT
ajfa-997	94	1	*	*	PUNCT
ajfa-997	94	2	7.2620	7.2620	NUM
ajfa-997	94	3	(	(	PUNCT
ajfa-997	94	4	0.0550	0.0550	NUM
ajfa-997	94	5	)	)	PUNCT
ajfa-997	94	6	*	*	PUNCT
ajfa-997	94	7	september	september	PROPN
ajfa-997	94	8	3.5060	3.5060	NUM
ajfa-997	94	9	(	(	PUNCT
ajfa-997	94	10	0.1470	0.1470	NUM
ajfa-997	94	11	)	)	PUNCT
ajfa-997	94	12	3.8240	3.8240	NUM
ajfa-997	94	13	(	(	PUNCT
ajfa-997	94	14	0.0925	0.0925	NUM
ajfa-997	94	15	)	)	PUNCT
ajfa-997	94	16	october	october	NOUN
ajfa-997	94	17	3.2460	3.2460	NUM
ajfa-997	94	18	(	(	PUNCT
ajfa-997	94	19	0.1655	0.1655	NUM
ajfa-997	94	20	)	)	PUNCT
ajfa-997	94	21	4.5740	4.5740	NUM
ajfa-997	94	22	(	(	PUNCT
ajfa-997	94	23	0.0645	0.0645	NUM
ajfa-997	94	24	)	)	PUNCT
ajfa-997	94	25	november	november	PROPN
ajfa-997	94	26	11.2250	11.2250	NUM
ajfa-997	94	27	(	(	PUNCT
ajfa-997	94	28	0.0005	0.0005	NUM
ajfa-997	94	29	)	)	PUNCT
ajfa-997	94	30	*	*	PUNCT
ajfa-997	95	1	*	*	PUNCT
ajfa-997	95	2	9.6590	9.6590	NUM
ajfa-997	95	3	(	(	PUNCT
ajfa-997	95	4	0.0005	0.0005	NUM
ajfa-997	95	5	)	)	PUNCT
ajfa-997	95	6	*	*	PUNCT
ajfa-997	95	7	*	*	PUNCT
ajfa-997	95	8	december	december	PROPN
ajfa-997	95	9	8.7340	8.7340	NUM
ajfa-997	95	10	(	(	PUNCT
ajfa-997	95	11	0.0050	0.0050	NUM
ajfa-997	95	12	)	)	PUNCT
ajfa-997	95	13	*	*	PUNCT
ajfa-997	96	1	*	*	PUNCT
ajfa-997	96	2	7.1570	7.1570	NUM
ajfa-997	96	3	(	(	PUNCT
ajfa-997	96	4	0.0060	0.0060	NUM
ajfa-997	96	5	)	)	PUNCT
ajfa-997	96	6	*	*	PUNCT
ajfa-997	96	7	*	*	PUNCT
ajfa-997	96	8	2000_crash1	2000_crash1	NUM
ajfa-997	96	9	-8.7520	-8.7520	NOUN
ajfa-997	96	10	(	(	PUNCT
ajfa-997	96	11	0.0650	0.0650	NUM
ajfa-997	96	12	)	)	PUNCT
ajfa-997	96	13	-4.0820	-4.0820	NOUN
ajfa-997	96	14	(	(	PUNCT
ajfa-997	96	15	0.2430	0.2430	NUM
ajfa-997	96	16	)	)	PUNCT
ajfa-997	96	17	2000_crash2	2000_crash2	PROPN
ajfa-997	96	18	-12.1280	-12.1280	SYM
ajfa-997	96	19	(	(	PUNCT
ajfa-997	96	20	0.0185	0.0185	NUM
ajfa-997	96	21	)	)	PUNCT
ajfa-997	96	22	*	*	PUNCT
ajfa-997	96	23	-11.2810	-11.2810	PUNCT
ajfa-997	96	24	(	(	PUNCT
ajfa-997	96	25	0.0270	0.0270	NUM
ajfa-997	96	26	)	)	PUNCT
ajfa-997	96	27	*	*	PUNCT
ajfa-997	97	1	2000_crash3	2000_crash3	NUM
ajfa-997	97	2	-11.5850	-11.5850	PUNCT
ajfa-997	97	3	(	(	PUNCT
ajfa-997	97	4	0.0230	0.0230	NUM
ajfa-997	97	5	)	)	PUNCT
ajfa-997	97	6	*	*	PUNCT
ajfa-997	97	7	-10.5540	-10.5540	PUNCT
ajfa-997	97	8	(	(	PUNCT
ajfa-997	97	9	0.0365	0.0365	NUM
ajfa-997	97	10	)	)	PUNCT
ajfa-997	97	11	*	*	PUNCT
ajfa-997	97	12	2001_crash1	2001_crash1	NUM
ajfa-997	97	13	-18.4060	-18.4060	SYM
ajfa-997	97	14	(	(	PUNCT
ajfa-997	97	15	0.0010	0.0010	NUM
ajfa-997	97	16	)	)	PUNCT
ajfa-997	97	17	*	*	PUNCT
ajfa-997	97	18	*	*	PUNCT
ajfa-997	97	19	-12.8790	-12.8790	PUNCT
ajfa-997	97	20	(	(	PUNCT
ajfa-997	97	21	0.0140	0.0140	NUM
ajfa-997	97	22	)	)	PUNCT
ajfa-997	97	23	*	*	PUNCT
ajfa-997	98	1	2001_crash2	2001_crash2	NUM
ajfa-997	98	2	-16.5340	-16.5340	SYM
ajfa-997	98	3	(	(	PUNCT
ajfa-997	98	4	0.0025	0.0025	NUM
ajfa-997	98	5	)	)	PUNCT
ajfa-997	98	6	*	*	PUNCT
ajfa-997	98	7	*	*	PUNCT
ajfa-997	98	8	-14.9010	-14.9010	PUNCT
ajfa-997	98	9	(	(	PUNCT
ajfa-997	98	10	0.0055	0.0055	NUM
ajfa-997	98	11	)	)	PUNCT
ajfa-997	98	12	*	*	PUNCT
ajfa-997	98	13	*	*	PUNCT
ajfa-997	98	14	2004_crash	2004_crash	NUM
ajfa-997	98	15	-20.5070	-20.5070	SYM
ajfa-997	98	16	(	(	PUNCT
ajfa-997	98	17	0.0005	0.0005	NUM
ajfa-997	98	18	)	)	PUNCT
ajfa-997	98	19	*	*	PUNCT
ajfa-997	98	20	*	*	PUNCT
ajfa-997	98	21	-22.6870	-22.6870	PUNCT
ajfa-997	98	22	(	(	PUNCT
ajfa-997	98	23	0.0000	0.0000	NUM
ajfa-997	98	24	)	)	PUNCT
ajfa-997	98	25	*	*	PUNCT
ajfa-997	98	26	*	*	PUNCT
ajfa-997	98	27	2005_crash	2005_crash	NUM
ajfa-997	98	28	-12.8240	-12.8240	SYM
ajfa-997	98	29	(	(	PUNCT
ajfa-997	98	30	0.0135	0.0135	NUM
ajfa-997	98	31	)	)	PUNCT
ajfa-997	98	32	*	*	PUNCT
ajfa-997	98	33	-12.5120	-12.5120	PUNCT
ajfa-997	98	34	(	(	PUNCT
ajfa-997	98	35	0.0170	0.0170	NUM
ajfa-997	98	36	)	)	PUNCT
ajfa-997	98	37	*	*	PUNCT
ajfa-997	98	38	2006_crash	2006_crash	NUM
ajfa-997	98	39	-18.7480	-18.7480	SYM
ajfa-997	98	40	(	(	PUNCT
ajfa-997	98	41	0.0010	0.0010	NUM
ajfa-997	98	42	)	)	PUNCT
ajfa-997	98	43	*	*	PUNCT
ajfa-997	98	44	*	*	PUNCT
ajfa-997	98	45	-21.2070	-21.2070	PUNCT
ajfa-997	98	46	(	(	PUNCT
ajfa-997	98	47	0.0005	0.0005	NUM
ajfa-997	98	48	)	)	PUNCT
ajfa-997	98	49	*	*	PUNCT
ajfa-997	98	50	*	*	PUNCT
ajfa-997	98	51	2007_crash	2007_crash	NUM
ajfa-997	98	52	-12.9060	-12.9060	SYM
ajfa-997	98	53	(	(	PUNCT
ajfa-997	98	54	0.0135	0.0135	NUM
ajfa-997	98	55	)	)	PUNCT
ajfa-997	98	56	*	*	PUNCT
ajfa-997	98	57	-13.1750	-13.1750	PUNCT
ajfa-997	98	58	(	(	PUNCT
ajfa-997	98	59	0.0130	0.0130	NUM
ajfa-997	98	60	)	)	PUNCT
ajfa-997	98	61	*	*	PUNCT
ajfa-997	98	62	statistics	statistic	NOUN
ajfa-997	98	63	:	:	PUNCT
ajfa-997	98	64	r2	r2	NOUN
ajfa-997	98	65	21.80	21.80	NUM
ajfa-997	98	66	%	%	NOUN
ajfa-997	98	67	42.50	42.50	NUM
ajfa-997	98	68	%	%	NOUN
ajfa-997	98	69	55.00	55.00	NUM
ajfa-997	98	70	%	%	NOUN
ajfa-997	98	71	sse	sse	NOUN
ajfa-997	98	72	3612.0690	3612.0690	NUM
ajfa-997	98	73	2658.3380	2658.3380	NUM
ajfa-997	98	74	2078.5340	2078.5340	NUM
ajfa-997	98	75	dfsse	dfsse	NOUN
ajfa-997	98	76	82	82	NUM
ajfa-997	98	77	84	84	NUM
ajfa-997	98	78	73	73	NUM
ajfa-997	98	79	fcal	fcal	ADJ
ajfa-997	98	80	1.9060	1.9060	NUM
ajfa-997	98	81	6.1970	6.1970	NUM
ajfa-997	98	82	4.2500	4.2500	NUM
ajfa-997	98	83	p	p	NOUN
ajfa-997	98	84	-	-	PUNCT
ajfa-997	98	85	value	value	NOUN
ajfa-997	98	86	0.0450	0.0450	NUM
ajfa-997	98	87	*	*	SYM
ajfa-997	98	88	0.0000	0.0000	NUM
ajfa-997	98	89	*	*	PUNCT
ajfa-997	98	90	*	*	PUNCT
ajfa-997	98	91	0.0000	0.0000	NUM
ajfa-997	98	92	*	*	PUNCT
ajfa-997	98	93	*	*	PUNCT
ajfa-997	98	94	(	(	PUNCT
ajfa-997	98	95	source	source	NOUN
ajfa-997	98	96	:	:	PUNCT
ajfa-997	98	97	primary	primary	ADJ
ajfa-997	98	98	data	datum	NOUN
ajfa-997	98	99	)	)	PUNCT
ajfa-997	98	100	due	due	ADP
ajfa-997	98	101	to	to	ADP
ajfa-997	98	102	multicollinearity	multicollinearity	NOUN
ajfa-997	98	103	of	of	ADP
ajfa-997	98	104	the	the	DET
ajfa-997	98	105	month	month	NOUN
ajfa-997	98	106	dummy	dummy	ADJ
ajfa-997	98	107	variables	variable	NOUN
ajfa-997	98	108	,	,	PUNCT
ajfa-997	98	109	the	the	DET
ajfa-997	98	110	march	march	PROPN
ajfa-997	98	111	dummy	dummy	ADJ
ajfa-997	98	112	variable	variable	NOUN
ajfa-997	98	113	was	be	AUX
ajfa-997	98	114	not	not	PART
ajfa-997	98	115	entered	enter	VERB
ajfa-997	98	116	into	into	ADP
ajfa-997	98	117	the	the	DET
ajfa-997	98	118	models	model	NOUN
ajfa-997	98	119	.	.	PUNCT
ajfa-997	99	1	thus	thus	ADV
ajfa-997	99	2	,	,	PUNCT
ajfa-997	99	3	march	march	PROPN
ajfa-997	99	4	can	can	AUX
ajfa-997	99	5	be	be	AUX
ajfa-997	99	6	viewed	view	VERB
ajfa-997	99	7	as	as	ADP
ajfa-997	99	8	the	the	DET
ajfa-997	99	9	base	base	NOUN
ajfa-997	99	10	month	month	NOUN
ajfa-997	99	11	,	,	PUNCT
ajfa-997	99	12	with	with	ADP
ajfa-997	99	13	the	the	DET
ajfa-997	99	14	constant	constant	ADJ
ajfa-997	99	15	term	term	NOUN
ajfa-997	99	16	representing	represent	VERB
ajfa-997	99	17	march	march	NOUN
ajfa-997	99	18	returns	return	NOUN
ajfa-997	99	19	,	,	PUNCT
ajfa-997	99	20	and	and	CCONJ
ajfa-997	99	21	the	the	DET
ajfa-997	99	22	regression	regression	NOUN
ajfa-997	99	23	coefficients	coefficient	NOUN
ajfa-997	99	24	representing	represent	VERB
ajfa-997	99	25	monthly	monthly	ADJ
ajfa-997	99	26	differences	difference	NOUN
ajfa-997	99	27	from	from	ADP
ajfa-997	99	28	march	march	PROPN
ajfa-997	99	29	returns	return	NOUN
ajfa-997	99	30	.	.	PUNCT
ajfa-997	100	1	model	model	NOUN
ajfa-997	100	2	i	i	PRON
ajfa-997	100	3	shows	show	VERB
ajfa-997	100	4	the	the	DET
ajfa-997	100	5	results	result	NOUN
ajfa-997	100	6	of	of	ADP
ajfa-997	100	7	the	the	DET
ajfa-997	100	8	dummy	dummy	ADJ
ajfa-997	100	9	variable	variable	ADJ
ajfa-997	100	10	regression	regression	NOUN
ajfa-997	100	11	of	of	ADP
ajfa-997	100	12	monthly	monthly	ADJ
ajfa-997	100	13	returns	return	NOUN
ajfa-997	100	14	on	on	ADP
ajfa-997	100	15	the	the	DET
ajfa-997	100	16	trend	trend	NOUN
ajfa-997	100	17	and	and	CCONJ
ajfa-997	100	18	month	month	NOUN
ajfa-997	100	19	dummy	dummy	ADJ
ajfa-997	100	20	variables	variable	NOUN
ajfa-997	100	21	taking	take	VERB
ajfa-997	100	22	march	march	PROPN
ajfa-997	100	23	as	as	ADP
ajfa-997	100	24	the	the	DET
ajfa-997	100	25	base	base	NOUN
ajfa-997	100	26	.	.	PUNCT
ajfa-997	101	1	the	the	DET
ajfa-997	101	2	regression	regression	NOUN
ajfa-997	101	3	was	be	AUX
ajfa-997	101	4	found	find	VERB
ajfa-997	101	5	to	to	PART
ajfa-997	101	6	be	be	AUX
ajfa-997	101	7	statistically	statistically	ADV
ajfa-997	101	8	significant	significant	ADJ
ajfa-997	101	9	,	,	PUNCT
ajfa-997	101	10	explaining	explain	VERB
ajfa-997	101	11	21.80	21.80	NUM
ajfa-997	101	12	%	%	NOUN
ajfa-997	101	13	of	of	ADP
ajfa-997	101	14	the	the	DET
ajfa-997	101	15	overall	overall	ADJ
ajfa-997	101	16	variation	variation	NOUN
ajfa-997	101	17	in	in	ADP
ajfa-997	101	18	monthly	monthly	ADJ
ajfa-997	101	19	returns	return	NOUN
ajfa-997	101	20	.	.	PUNCT
ajfa-997	102	1	in	in	ADP
ajfa-997	102	2	this	this	DET
ajfa-997	102	3	model	model	NOUN
ajfa-997	102	4	,	,	PUNCT
ajfa-997	102	5	the	the	DET
ajfa-997	102	6	trend	trend	NOUN
ajfa-997	102	7	was	be	AUX
ajfa-997	102	8	found	find	VERB
ajfa-997	102	9	to	to	PART
ajfa-997	102	10	be	be	AUX
ajfa-997	102	11	statistically	statistically	ADV
ajfa-997	102	12	insignificant	insignificant	ADJ
ajfa-997	102	13	;	;	PUNCT
ajfa-997	102	14	amongst	amongst	ADP
ajfa-997	102	15	the	the	DET
ajfa-997	102	16	months	month	NOUN
ajfa-997	102	17	,	,	PUNCT
ajfa-997	102	18	november	november	PROPN
ajfa-997	102	19	,	,	PUNCT
ajfa-997	102	20	august	august	PROPN
ajfa-997	102	21	,	,	PUNCT
ajfa-997	102	22	december	december	PROPN
ajfa-997	102	23	,	,	PUNCT
ajfa-997	102	24	july	july	PROPN
ajfa-997	102	25	,	,	PUNCT
ajfa-997	102	26	and	and	CCONJ
ajfa-997	102	27	january	january	PROPN
ajfa-997	102	28	were	be	AUX
ajfa-997	102	29	found	find	VERB
ajfa-997	102	30	to	to	PART
ajfa-997	102	31	have	have	VERB
ajfa-997	102	32	significant	significant	ADJ
ajfa-997	102	33	positive	positive	ADJ
ajfa-997	102	34	returns	return	NOUN
ajfa-997	102	35	,	,	PUNCT
ajfa-997	102	36	while	while	SCONJ
ajfa-997	102	37	march	march	PROPN
ajfa-997	102	38	(	(	PUNCT
ajfa-997	102	39	represented	represent	VERB
ajfa-997	102	40	by	by	ADP
ajfa-997	102	41	the	the	DET
ajfa-997	102	42	constant	constant	ADJ
ajfa-997	102	43	term	term	NOUN
ajfa-997	102	44	)	)	PUNCT
ajfa-997	102	45	was	be	AUX
ajfa-997	102	46	found	find	VERB
ajfa-997	102	47	to	to	PART
ajfa-997	102	48	have	have	VERB
ajfa-997	102	49	significant	significant	ADJ
ajfa-997	102	50	negative	negative	ADJ
ajfa-997	102	51	returns	return	NOUN
ajfa-997	102	52	.	.	PUNCT
ajfa-997	103	1	this	this	DET
ajfa-997	103	2	asian	asian	ADJ
ajfa-997	103	3	journal	journal	NOUN
ajfa-997	103	4	of	of	ADP
ajfa-997	103	5	finance	finance	PROPN
ajfa-997	103	6	&	&	CCONJ
ajfa-997	103	7	accounting	accounting	PROPN
ajfa-997	103	8	issn	issn	PROPN
ajfa-997	103	9	1946	1946	NUM
ajfa-997	103	10	-	-	PUNCT
ajfa-997	103	11	052x	052x	NOUN
ajfa-997	103	12	2011	2011	NUM
ajfa-997	103	13	,	,	PUNCT
ajfa-997	103	14	vol	vol	NOUN
ajfa-997	103	15	.	.	PROPN
ajfa-997	104	1	3	3	NUM
ajfa-997	104	2	,	,	PUNCT
ajfa-997	104	3	no	no	INTJ
ajfa-997	104	4	.	.	NOUN
ajfa-997	104	5	1	1	NUM
ajfa-997	104	6	:	:	SYM
ajfa-997	104	7	e11	e11	X
ajfa-997	104	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-997	104	9	181	181	NUM
ajfa-997	104	10	more	more	ADJ
ajfa-997	104	11	or	or	CCONJ
ajfa-997	104	12	less	less	ADJ
ajfa-997	104	13	corresponds	correspond	NOUN
ajfa-997	104	14	with	with	ADP
ajfa-997	104	15	the	the	DET
ajfa-997	104	16	results	result	NOUN
ajfa-997	104	17	obtained	obtain	VERB
ajfa-997	104	18	from	from	ADP
ajfa-997	104	19	duncan	duncan	PROPN
ajfa-997	104	20	’s	’s	PART
ajfa-997	104	21	post	post	X
ajfa-997	104	22	hoc	hoc	X
ajfa-997	104	23	test	test	NOUN
ajfa-997	104	24	.	.	PUNCT
ajfa-997	105	1	model	model	PROPN
ajfa-997	105	2	ii	ii	PROPN
ajfa-997	105	3	shows	show	VERB
ajfa-997	105	4	the	the	DET
ajfa-997	105	5	results	result	NOUN
ajfa-997	105	6	of	of	ADP
ajfa-997	105	7	the	the	DET
ajfa-997	105	8	dummy	dummy	ADJ
ajfa-997	105	9	variable	variable	ADJ
ajfa-997	105	10	regression	regression	NOUN
ajfa-997	105	11	of	of	ADP
ajfa-997	105	12	monthly	monthly	ADJ
ajfa-997	105	13	returns	return	NOUN
ajfa-997	105	14	on	on	ADP
ajfa-997	105	15	the	the	DET
ajfa-997	105	16	trend	trend	NOUN
ajfa-997	105	17	and	and	CCONJ
ajfa-997	105	18	market	market	NOUN
ajfa-997	105	19	crash	crash	NOUN
ajfa-997	105	20	variables	variable	NOUN
ajfa-997	105	21	.	.	PUNCT
ajfa-997	106	1	the	the	DET
ajfa-997	106	2	regression	regression	NOUN
ajfa-997	106	3	was	be	AUX
ajfa-997	106	4	found	find	VERB
ajfa-997	106	5	to	to	PART
ajfa-997	106	6	be	be	AUX
ajfa-997	106	7	statistically	statistically	ADV
ajfa-997	106	8	significant	significant	ADJ
ajfa-997	106	9	,	,	PUNCT
ajfa-997	106	10	explaining	explain	VERB
ajfa-997	106	11	42.50	42.50	NUM
ajfa-997	106	12	%	%	NOUN
ajfa-997	106	13	of	of	ADP
ajfa-997	106	14	the	the	DET
ajfa-997	106	15	overall	overall	ADJ
ajfa-997	106	16	variation	variation	NOUN
ajfa-997	106	17	in	in	ADP
ajfa-997	106	18	monthly	monthly	ADJ
ajfa-997	106	19	returns	return	NOUN
ajfa-997	106	20	.	.	PUNCT
ajfa-997	107	1	in	in	ADP
ajfa-997	107	2	this	this	DET
ajfa-997	107	3	model	model	NOUN
ajfa-997	107	4	,	,	PUNCT
ajfa-997	107	5	the	the	DET
ajfa-997	107	6	constant	constant	ADJ
ajfa-997	107	7	term	term	NOUN
ajfa-997	107	8	and	and	CCONJ
ajfa-997	107	9	the	the	DET
ajfa-997	107	10	trend	trend	NOUN
ajfa-997	107	11	were	be	AUX
ajfa-997	107	12	both	both	PRON
ajfa-997	107	13	found	find	VERB
ajfa-997	107	14	to	to	PART
ajfa-997	107	15	be	be	AUX
ajfa-997	107	16	statistically	statistically	ADV
ajfa-997	107	17	insignificant	insignificant	ADJ
ajfa-997	107	18	,	,	PUNCT
ajfa-997	107	19	while	while	SCONJ
ajfa-997	107	20	all	all	PRON
ajfa-997	107	21	of	of	ADP
ajfa-997	107	22	the	the	DET
ajfa-997	107	23	market	market	NOUN
ajfa-997	107	24	crashes	crash	NOUN
ajfa-997	107	25	were	be	AUX
ajfa-997	107	26	found	find	VERB
ajfa-997	107	27	to	to	PART
ajfa-997	107	28	be	be	AUX
ajfa-997	107	29	highly	highly	ADV
ajfa-997	107	30	significant	significant	ADJ
ajfa-997	107	31	,	,	PUNCT
ajfa-997	107	32	except	except	SCONJ
ajfa-997	107	33	for	for	ADP
ajfa-997	107	34	the	the	DET
ajfa-997	107	35	apr’00	apr’00	NOUN
ajfa-997	107	36	crash	crash	NOUN
ajfa-997	107	37	.	.	PUNCT
ajfa-997	108	1	obviously	obviously	ADV
ajfa-997	108	2	,	,	PUNCT
ajfa-997	108	3	all	all	PRON
ajfa-997	108	4	of	of	ADP
ajfa-997	108	5	the	the	DET
ajfa-997	108	6	crashes	crash	NOUN
ajfa-997	108	7	had	have	VERB
ajfa-997	108	8	a	a	DET
ajfa-997	108	9	negative	negative	ADJ
ajfa-997	108	10	effect	effect	NOUN
ajfa-997	108	11	on	on	ADP
ajfa-997	108	12	monthly	monthly	ADJ
ajfa-997	108	13	returns	return	NOUN
ajfa-997	108	14	,	,	PUNCT
ajfa-997	108	15	the	the	DET
ajfa-997	108	16	worst	bad	ADJ
ajfa-997	108	17	being	be	AUX
ajfa-997	108	18	the	the	DET
ajfa-997	108	19	may’04	may’04	PROPN
ajfa-997	108	20	crash	crash	NOUN
ajfa-997	108	21	,	,	PUNCT
ajfa-997	108	22	followed	follow	VERB
ajfa-997	108	23	by	by	ADP
ajfa-997	108	24	the	the	DET
ajfa-997	108	25	may’06	may’06	PROPN
ajfa-997	108	26	crash	crash	NOUN
ajfa-997	108	27	,	,	PUNCT
ajfa-997	108	28	the	the	DET
ajfa-997	108	29	mar’01	mar’01	PROPN
ajfa-997	108	30	crash	crash	NOUN
ajfa-997	108	31	,	,	PUNCT
ajfa-997	108	32	the	the	DET
ajfa-997	108	33	sep’01	sep’01	NOUN
ajfa-997	108	34	crash	crash	NOUN
ajfa-997	108	35	,	,	PUNCT
ajfa-997	108	36	the	the	DET
ajfa-997	108	37	feb’07	feb’07	PROPN
ajfa-997	108	38	crash	crash	NOUN
ajfa-997	108	39	,	,	PUNCT
ajfa-997	108	40	the	the	DET
ajfa-997	108	41	oct’05	oct’05	PROPN
ajfa-997	108	42	crash	crash	NOUN
ajfa-997	108	43	,	,	PUNCT
ajfa-997	108	44	the	the	DET
ajfa-997	108	45	jul’00	jul’00	ADJ
ajfa-997	108	46	crash	crash	NOUN
ajfa-997	108	47	,	,	PUNCT
ajfa-997	108	48	the	the	DET
ajfa-997	108	49	oct’00	oct’00	ADJ
ajfa-997	108	50	crash	crash	NOUN
ajfa-997	108	51	,	,	PUNCT
ajfa-997	108	52	and	and	CCONJ
ajfa-997	108	53	finally	finally	ADV
ajfa-997	108	54	the	the	DET
ajfa-997	108	55	apr’00	apr’00	PROPN
ajfa-997	108	56	crash	crash	NOUN
ajfa-997	108	57	.	.	PUNCT
ajfa-997	109	1	model	model	PROPN
ajfa-997	109	2	iii	iii	PROPN
ajfa-997	109	3	shows	show	VERB
ajfa-997	109	4	the	the	DET
ajfa-997	109	5	results	result	NOUN
ajfa-997	109	6	of	of	ADP
ajfa-997	109	7	the	the	DET
ajfa-997	109	8	dummy	dummy	ADJ
ajfa-997	109	9	variable	variable	ADJ
ajfa-997	109	10	regression	regression	NOUN
ajfa-997	109	11	of	of	ADP
ajfa-997	109	12	monthly	monthly	ADJ
ajfa-997	109	13	returns	return	NOUN
ajfa-997	109	14	on	on	ADP
ajfa-997	109	15	the	the	DET
ajfa-997	109	16	trend	trend	NOUN
ajfa-997	109	17	,	,	PUNCT
ajfa-997	109	18	month	month	NOUN
ajfa-997	109	19	,	,	PUNCT
ajfa-997	109	20	and	and	CCONJ
ajfa-997	109	21	market	market	NOUN
ajfa-997	109	22	crash	crash	NOUN
ajfa-997	109	23	variables	variable	NOUN
ajfa-997	109	24	.	.	PUNCT
ajfa-997	110	1	the	the	DET
ajfa-997	110	2	regression	regression	NOUN
ajfa-997	110	3	was	be	AUX
ajfa-997	110	4	found	find	VERB
ajfa-997	110	5	to	to	PART
ajfa-997	110	6	be	be	AUX
ajfa-997	110	7	statistically	statistically	ADV
ajfa-997	110	8	significant	significant	ADJ
ajfa-997	110	9	,	,	PUNCT
ajfa-997	110	10	explaining	explain	VERB
ajfa-997	110	11	55.00	55.00	NUM
ajfa-997	110	12	%	%	NOUN
ajfa-997	110	13	of	of	ADP
ajfa-997	110	14	the	the	DET
ajfa-997	110	15	overall	overall	ADJ
ajfa-997	110	16	variation	variation	NOUN
ajfa-997	110	17	in	in	ADP
ajfa-997	110	18	monthly	monthly	ADJ
ajfa-997	110	19	returns	return	NOUN
ajfa-997	110	20	.	.	PUNCT
ajfa-997	111	1	in	in	ADP
ajfa-997	111	2	this	this	DET
ajfa-997	111	3	model	model	NOUN
ajfa-997	111	4	,	,	PUNCT
ajfa-997	111	5	the	the	DET
ajfa-997	111	6	trend	trend	NOUN
ajfa-997	111	7	was	be	AUX
ajfa-997	111	8	found	find	VERB
ajfa-997	111	9	to	to	PART
ajfa-997	111	10	statistically	statistically	ADV
ajfa-997	111	11	significant	significant	ADJ
ajfa-997	111	12	;	;	PUNCT
ajfa-997	111	13	amongst	amongst	ADP
ajfa-997	111	14	the	the	DET
ajfa-997	111	15	months	month	NOUN
ajfa-997	111	16	,	,	PUNCT
ajfa-997	111	17	november	november	PROPN
ajfa-997	111	18	,	,	PUNCT
ajfa-997	111	19	may	may	AUX
ajfa-997	111	20	,	,	PUNCT
ajfa-997	111	21	august	august	PROPN
ajfa-997	111	22	,	,	PUNCT
ajfa-997	111	23	december	december	PROPN
ajfa-997	111	24	,	,	PUNCT
ajfa-997	111	25	june	june	PROPN
ajfa-997	111	26	,	,	PUNCT
ajfa-997	111	27	february	february	PROPN
ajfa-997	111	28	,	,	PUNCT
ajfa-997	111	29	and	and	CCONJ
ajfa-997	111	30	july	july	PROPN
ajfa-997	111	31	were	be	AUX
ajfa-997	111	32	found	find	VERB
ajfa-997	111	33	to	to	PART
ajfa-997	111	34	have	have	VERB
ajfa-997	111	35	significant	significant	ADJ
ajfa-997	111	36	positive	positive	ADJ
ajfa-997	111	37	returns	return	NOUN
ajfa-997	111	38	,	,	PUNCT
ajfa-997	111	39	while	while	SCONJ
ajfa-997	111	40	march	march	PROPN
ajfa-997	111	41	(	(	PUNCT
ajfa-997	111	42	represented	represent	VERB
ajfa-997	111	43	by	by	ADP
ajfa-997	111	44	the	the	DET
ajfa-997	111	45	constant	constant	ADJ
ajfa-997	111	46	term	term	NOUN
ajfa-997	111	47	)	)	PUNCT
ajfa-997	111	48	was	be	AUX
ajfa-997	111	49	found	find	VERB
ajfa-997	111	50	to	to	PART
ajfa-997	111	51	have	have	VERB
ajfa-997	111	52	significant	significant	ADJ
ajfa-997	111	53	negative	negative	ADJ
ajfa-997	111	54	return	return	NOUN
ajfa-997	111	55	;	;	PUNCT
ajfa-997	111	56	while	while	SCONJ
ajfa-997	111	57	all	all	PRON
ajfa-997	111	58	of	of	ADP
ajfa-997	111	59	the	the	DET
ajfa-997	111	60	market	market	NOUN
ajfa-997	111	61	crashes	crash	NOUN
ajfa-997	111	62	were	be	AUX
ajfa-997	111	63	found	find	VERB
ajfa-997	111	64	to	to	PART
ajfa-997	111	65	be	be	AUX
ajfa-997	111	66	highly	highly	ADV
ajfa-997	111	67	significant	significant	ADJ
ajfa-997	111	68	,	,	PUNCT
ajfa-997	111	69	except	except	SCONJ
ajfa-997	111	70	for	for	ADP
ajfa-997	111	71	the	the	DET
ajfa-997	111	72	apr’00	apr’00	NOUN
ajfa-997	111	73	crash	crash	NOUN
ajfa-997	111	74	.	.	PUNCT
ajfa-997	112	1	again	again	ADV
ajfa-997	112	2	,	,	PUNCT
ajfa-997	112	3	all	all	PRON
ajfa-997	112	4	of	of	ADP
ajfa-997	112	5	the	the	DET
ajfa-997	112	6	crashes	crash	NOUN
ajfa-997	112	7	had	have	VERB
ajfa-997	112	8	a	a	DET
ajfa-997	112	9	negative	negative	ADJ
ajfa-997	112	10	effect	effect	NOUN
ajfa-997	112	11	on	on	ADP
ajfa-997	112	12	monthly	monthly	ADJ
ajfa-997	112	13	returns	return	NOUN
ajfa-997	112	14	,	,	PUNCT
ajfa-997	112	15	the	the	DET
ajfa-997	112	16	worst	bad	ADJ
ajfa-997	112	17	being	be	AUX
ajfa-997	112	18	the	the	DET
ajfa-997	112	19	may’04	may’04	PROPN
ajfa-997	112	20	crash	crash	NOUN
ajfa-997	112	21	,	,	PUNCT
ajfa-997	112	22	followed	follow	VERB
ajfa-997	112	23	by	by	ADP
ajfa-997	112	24	the	the	DET
ajfa-997	112	25	may’06	may’06	PROPN
ajfa-997	112	26	crash	crash	NOUN
ajfa-997	112	27	,	,	PUNCT
ajfa-997	112	28	the	the	DET
ajfa-997	112	29	sep’01	sep’01	NOUN
ajfa-997	112	30	crash	crash	NOUN
ajfa-997	112	31	,	,	PUNCT
ajfa-997	112	32	the	the	DET
ajfa-997	112	33	feb’07	feb’07	PROPN
ajfa-997	112	34	crash	crash	NOUN
ajfa-997	112	35	,	,	PUNCT
ajfa-997	112	36	the	the	DET
ajfa-997	112	37	mar’01	mar’01	PROPN
ajfa-997	112	38	crash	crash	NOUN
ajfa-997	112	39	,	,	PUNCT
ajfa-997	112	40	the	the	DET
ajfa-997	112	41	oct’05	oct’05	PROPN
ajfa-997	112	42	crash	crash	NOUN
ajfa-997	112	43	,	,	PUNCT
ajfa-997	112	44	the	the	DET
ajfa-997	112	45	jul’00	jul’00	ADJ
ajfa-997	112	46	crash	crash	NOUN
ajfa-997	112	47	,	,	PUNCT
ajfa-997	112	48	the	the	DET
ajfa-997	112	49	oct’00	oct’00	ADJ
ajfa-997	112	50	crash	crash	NOUN
ajfa-997	112	51	,	,	PUNCT
ajfa-997	112	52	and	and	CCONJ
ajfa-997	112	53	finally	finally	ADV
ajfa-997	112	54	the	the	DET
ajfa-997	112	55	apr’00	apr’00	PROPN
ajfa-997	112	56	crash	crash	NOUN
ajfa-997	112	57	.	.	PUNCT
ajfa-997	113	1	also	also	ADV
ajfa-997	113	2	,	,	PUNCT
ajfa-997	113	3	the	the	DET
ajfa-997	113	4	month	month	NOUN
ajfa-997	113	5	effects	effect	NOUN
ajfa-997	113	6	were	be	AUX
ajfa-997	113	7	found	find	VERB
ajfa-997	113	8	to	to	PART
ajfa-997	113	9	be	be	AUX
ajfa-997	113	10	reduced	reduce	VERB
ajfa-997	113	11	by	by	ADP
ajfa-997	113	12	the	the	DET
ajfa-997	113	13	inclusion	inclusion	NOUN
ajfa-997	113	14	of	of	ADP
ajfa-997	113	15	market	market	NOUN
ajfa-997	113	16	crashes	crash	NOUN
ajfa-997	113	17	,	,	PUNCT
ajfa-997	113	18	except	except	SCONJ
ajfa-997	113	19	for	for	ADP
ajfa-997	113	20	february	february	PROPN
ajfa-997	113	21	,	,	PUNCT
ajfa-997	113	22	may	may	AUX
ajfa-997	113	23	,	,	PUNCT
ajfa-997	113	24	september	september	PROPN
ajfa-997	113	25	,	,	PUNCT
ajfa-997	113	26	and	and	CCONJ
ajfa-997	113	27	october	october	PROPN
ajfa-997	113	28	;	;	PUNCT
ajfa-997	113	29	and	and	CCONJ
ajfa-997	113	30	the	the	DET
ajfa-997	113	31	impact	impact	NOUN
ajfa-997	113	32	of	of	ADP
ajfa-997	113	33	the	the	DET
ajfa-997	113	34	market	market	NOUN
ajfa-997	113	35	crashes	crash	NOUN
ajfa-997	113	36	were	be	AUX
ajfa-997	113	37	found	find	VERB
ajfa-997	113	38	to	to	PART
ajfa-997	113	39	be	be	AUX
ajfa-997	113	40	reduced	reduce	VERB
ajfa-997	113	41	by	by	ADP
ajfa-997	113	42	the	the	DET
ajfa-997	113	43	inclusion	inclusion	NOUN
ajfa-997	113	44	of	of	ADP
ajfa-997	113	45	month	month	NOUN
ajfa-997	113	46	effects	effect	NOUN
ajfa-997	113	47	,	,	PUNCT
ajfa-997	113	48	except	except	SCONJ
ajfa-997	113	49	for	for	ADP
ajfa-997	113	50	the	the	DET
ajfa-997	113	51	may’04	may’04	PROPN
ajfa-997	113	52	crash	crash	NOUN
ajfa-997	113	53	,	,	PUNCT
ajfa-997	113	54	the	the	DET
ajfa-997	113	55	may’06	may’06	PROPN
ajfa-997	113	56	crash	crash	NOUN
ajfa-997	113	57	,	,	PUNCT
ajfa-997	113	58	and	and	CCONJ
ajfa-997	113	59	the	the	DET
ajfa-997	113	60	feb’07	feb’07	PROPN
ajfa-997	113	61	crash	crash	NOUN
ajfa-997	113	62	.	.	PUNCT
ajfa-997	114	1	the	the	DET
ajfa-997	114	2	relative	relative	ADJ
ajfa-997	114	3	significance	significance	NOUN
ajfa-997	114	4	of	of	ADP
ajfa-997	114	5	group	group	NOUN
ajfa-997	114	6	effects	effect	NOUN
ajfa-997	114	7	was	be	AUX
ajfa-997	114	8	assessed	assess	VERB
ajfa-997	114	9	by	by	ADP
ajfa-997	114	10	comparing	compare	VERB
ajfa-997	114	11	the	the	DET
ajfa-997	114	12	results	result	NOUN
ajfa-997	114	13	of	of	ADP
ajfa-997	114	14	model	model	NOUN
ajfa-997	114	15	iii	iii	PROPN
ajfa-997	114	16	with	with	ADP
ajfa-997	114	17	model	model	PROPN
ajfa-997	114	18	ii	ii	PROPN
ajfa-997	114	19	and	and	CCONJ
ajfa-997	114	20	model	model	NOUN
ajfa-997	114	21	i	i	PRON
ajfa-997	114	22	,	,	PUNCT
ajfa-997	114	23	in	in	ADP
ajfa-997	114	24	turn	turn	NOUN
ajfa-997	114	25	.	.	PUNCT
ajfa-997	115	1	the	the	DET
ajfa-997	115	2	results	result	NOUN
ajfa-997	115	3	are	be	AUX
ajfa-997	115	4	presented	present	VERB
ajfa-997	115	5	in	in	ADP
ajfa-997	115	6	table	table	NOUN
ajfa-997	115	7	4	4	NUM
ajfa-997	115	8	below	below	ADV
ajfa-997	115	9	.	.	PUNCT
ajfa-997	116	1	table	table	NOUN
ajfa-997	116	2	4	4	NUM
ajfa-997	116	3	.	.	PUNCT
ajfa-997	116	4	test	test	NOUN
ajfa-997	116	5	for	for	ADP
ajfa-997	116	6	significance	significance	NOUN
ajfa-997	116	7	of	of	ADP
ajfa-997	116	8	group	group	NOUN
ajfa-997	116	9	effects	effect	NOUN
ajfa-997	116	10	variable	variable	ADJ
ajfa-997	116	11	group	group	NOUN
ajfa-997	116	12	fcal	fcal	PROPN
ajfa-997	116	13	p	p	NOUN
ajfa-997	116	14	-	-	PUNCT
ajfa-997	116	15	value	value	NOUN
ajfa-997	116	16	month	month	NOUN
ajfa-997	116	17	-	-	PUNCT
ajfa-997	116	18	of	of	ADP
ajfa-997	116	19	-	-	PUNCT
ajfa-997	116	20	the	the	DET
ajfa-997	116	21	-	-	PUNCT
ajfa-997	116	22	year	year	NOUN
ajfa-997	116	23	effect	effect	NOUN
ajfa-997	116	24	1.8512	1.8512	NUM
ajfa-997	116	25	0.0606	0.0606	NUM
ajfa-997	116	26	crash	crash	NOUN
ajfa-997	116	27	effect	effect	NOUN
ajfa-997	116	28	5.9843	5.9843	NUM
ajfa-997	116	29	0.0000	0.0000	NUM
ajfa-997	116	30	*	*	PUNCT
ajfa-997	116	31	*	*	PUNCT
ajfa-997	116	32	(	(	PUNCT
ajfa-997	116	33	source	source	NOUN
ajfa-997	116	34	:	:	PUNCT
ajfa-997	116	35	primary	primary	ADJ
ajfa-997	116	36	data	data	PROPN
ajfa-997	116	37	)	)	PUNCT
ajfa-997	117	1	it	it	PRON
ajfa-997	117	2	was	be	AUX
ajfa-997	117	3	found	find	VERB
ajfa-997	117	4	that	that	SCONJ
ajfa-997	117	5	the	the	DET
ajfa-997	117	6	combined	combine	VERB
ajfa-997	117	7	month	month	NOUN
ajfa-997	117	8	effects	effect	NOUN
ajfa-997	117	9	were	be	AUX
ajfa-997	117	10	not	not	PART
ajfa-997	117	11	statistically	statistically	ADV
ajfa-997	117	12	significant	significant	ADJ
ajfa-997	117	13	in	in	ADP
ajfa-997	117	14	the	the	DET
ajfa-997	117	15	presence	presence	NOUN
ajfa-997	117	16	of	of	ADP
ajfa-997	117	17	crash	crash	NOUN
ajfa-997	117	18	effects	effect	NOUN
ajfa-997	117	19	,	,	PUNCT
ajfa-997	117	20	while	while	SCONJ
ajfa-997	117	21	the	the	DET
ajfa-997	117	22	combined	combined	ADJ
ajfa-997	117	23	crash	crash	NOUN
ajfa-997	117	24	effects	effect	NOUN
ajfa-997	117	25	were	be	AUX
ajfa-997	117	26	highly	highly	ADV
ajfa-997	117	27	statistically	statistically	ADV
ajfa-997	117	28	significant	significant	ADJ
ajfa-997	117	29	in	in	ADP
ajfa-997	117	30	the	the	DET
ajfa-997	117	31	presence	presence	NOUN
ajfa-997	117	32	of	of	ADP
ajfa-997	117	33	month	month	NOUN
ajfa-997	117	34	effects	effect	NOUN
ajfa-997	117	35	.	.	PUNCT
ajfa-997	118	1	conclusions	conclusion	NOUN
ajfa-997	118	2	the	the	DET
ajfa-997	118	3	results	result	NOUN
ajfa-997	118	4	of	of	ADP
ajfa-997	118	5	the	the	DET
ajfa-997	118	6	study	study	NOUN
ajfa-997	118	7	provide	provide	VERB
ajfa-997	118	8	evidence	evidence	NOUN
ajfa-997	118	9	for	for	ADP
ajfa-997	118	10	a	a	DET
ajfa-997	118	11	month	month	NOUN
ajfa-997	118	12	-	-	PUNCT
ajfa-997	118	13	of	of	ADP
ajfa-997	118	14	-	-	PUNCT
ajfa-997	118	15	the	the	DET
ajfa-997	118	16	-	-	PUNCT
ajfa-997	118	17	year	year	NOUN
ajfa-997	118	18	effect	effect	NOUN
ajfa-997	118	19	in	in	ADP
ajfa-997	118	20	indian	indian	ADJ
ajfa-997	118	21	stock	stock	NOUN
ajfa-997	118	22	markets	market	NOUN
ajfa-997	118	23	.	.	PUNCT
ajfa-997	119	1	in	in	ADP
ajfa-997	119	2	particular	particular	ADJ
ajfa-997	119	3	,	,	PUNCT
ajfa-997	119	4	there	there	PRON
ajfa-997	119	5	is	be	VERB
ajfa-997	119	6	clear	clear	ADJ
ajfa-997	119	7	indication	indication	NOUN
ajfa-997	119	8	of	of	ADP
ajfa-997	119	9	positive	positive	ADJ
ajfa-997	119	10	november	november	PROPN
ajfa-997	119	11	,	,	PUNCT
ajfa-997	119	12	august	august	PROPN
ajfa-997	119	13	,	,	PUNCT
ajfa-997	119	14	and	and	CCONJ
ajfa-997	119	15	december	december	PROPN
ajfa-997	119	16	effects	effect	NOUN
ajfa-997	119	17	,	,	PUNCT
ajfa-997	119	18	and	and	CCONJ
ajfa-997	119	19	a	a	DET
ajfa-997	119	20	negative	negative	ADJ
ajfa-997	119	21	march	march	NOUN
ajfa-997	119	22	effect	effect	NOUN
ajfa-997	119	23	.	.	PUNCT
ajfa-997	120	1	these	these	DET
ajfa-997	120	2	results	result	NOUN
ajfa-997	120	3	are	be	AUX
ajfa-997	120	4	consistent	consistent	ADJ
ajfa-997	120	5	with	with	ADP
ajfa-997	120	6	the	the	DET
ajfa-997	120	7	literature	literature	NOUN
ajfa-997	120	8	,	,	PUNCT
ajfa-997	120	9	particularly	particularly	ADV
ajfa-997	120	10	patel	patel	NOUN
ajfa-997	120	11	(	(	PUNCT
ajfa-997	120	12	2008	2008	NUM
ajfa-997	120	13	)	)	PUNCT
ajfa-997	120	14	.	.	PUNCT
ajfa-997	121	1	the	the	DET
ajfa-997	121	2	end	end	NOUN
ajfa-997	121	3	-	-	PUNCT
ajfa-997	121	4	of	of	ADP
ajfa-997	121	5	-	-	PUNCT
ajfa-997	121	6	the	the	DET
ajfa-997	121	7	-	-	PUNCT
ajfa-997	121	8	year	year	NOUN
ajfa-997	121	9	effect	effect	NOUN
ajfa-997	121	10	(	(	PUNCT
ajfa-997	121	11	i.e.	i.e.	X
ajfa-997	121	12	positive	positive	ADJ
ajfa-997	121	13	november	november	PROPN
ajfa-997	121	14	and	and	CCONJ
ajfa-997	121	15	december	december	PROPN
ajfa-997	121	16	asian	asian	ADJ
ajfa-997	121	17	journal	journal	NOUN
ajfa-997	121	18	of	of	ADP
ajfa-997	121	19	finance	finance	PROPN
ajfa-997	121	20	&	&	CCONJ
ajfa-997	121	21	accounting	accounting	PROPN
ajfa-997	121	22	issn	issn	PROPN
ajfa-997	121	23	1946	1946	NUM
ajfa-997	121	24	-	-	PUNCT
ajfa-997	121	25	052x	052x	NOUN
ajfa-997	121	26	2011	2011	NUM
ajfa-997	121	27	,	,	PUNCT
ajfa-997	121	28	vol	vol	NOUN
ajfa-997	121	29	.	.	PROPN
ajfa-997	121	30	3	3	NUM
ajfa-997	121	31	,	,	PUNCT
ajfa-997	121	32	no	no	INTJ
ajfa-997	121	33	.	.	NOUN
ajfa-997	121	34	1	1	NUM
ajfa-997	121	35	:	:	SYM
ajfa-997	121	36	e11	e11	X
ajfa-997	121	37	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-997	121	38	182	182	NUM
ajfa-997	121	39	effects	effect	NOUN
ajfa-997	121	40	)	)	PUNCT
ajfa-997	121	41	could	could	AUX
ajfa-997	121	42	be	be	AUX
ajfa-997	121	43	a	a	DET
ajfa-997	121	44	diwali	diwali	ADJ
ajfa-997	121	45	effect	effect	NOUN
ajfa-997	121	46	,	,	PUNCT
ajfa-997	121	47	with	with	ADP
ajfa-997	121	48	a	a	DET
ajfa-997	121	49	huge	huge	ADJ
ajfa-997	121	50	surge	surge	NOUN
ajfa-997	121	51	in	in	ADP
ajfa-997	121	52	the	the	DET
ajfa-997	121	53	purchase	purchase	NOUN
ajfa-997	121	54	of	of	ADP
ajfa-997	121	55	household	household	NOUN
ajfa-997	121	56	goods	good	NOUN
ajfa-997	121	57	,	,	PUNCT
ajfa-997	121	58	electronic	electronic	ADJ
ajfa-997	121	59	equipments	equipment	NOUN
ajfa-997	121	60	,	,	PUNCT
ajfa-997	121	61	and	and	CCONJ
ajfa-997	121	62	gold	gold	NOUN
ajfa-997	121	63	in	in	ADP
ajfa-997	121	64	india	india	PROPN
ajfa-997	121	65	,	,	PUNCT
ajfa-997	121	66	usually	usually	ADV
ajfa-997	121	67	in	in	ADP
ajfa-997	121	68	november	november	PROPN
ajfa-997	121	69	.	.	PUNCT
ajfa-997	122	1	another	another	DET
ajfa-997	122	2	possible	possible	ADJ
ajfa-997	122	3	contributing	contribute	VERB
ajfa-997	122	4	factor	factor	NOUN
ajfa-997	122	5	could	could	AUX
ajfa-997	122	6	be	be	AUX
ajfa-997	122	7	the	the	DET
ajfa-997	122	8	rabi	rabi	NOUN
ajfa-997	122	9	harvest	harvest	NOUN
ajfa-997	122	10	(	(	PUNCT
ajfa-997	122	11	also	also	ADV
ajfa-997	122	12	called	call	VERB
ajfa-997	122	13	the	the	DET
ajfa-997	122	14	“	"	PUNCT
ajfa-997	122	15	winter	winter	NOUN
ajfa-997	122	16	crop	crop	NOUN
ajfa-997	122	17	”	"	PUNCT
ajfa-997	122	18	)	)	PUNCT
ajfa-997	122	19	,	,	PUNCT
ajfa-997	122	20	which	which	PRON
ajfa-997	122	21	affects	affect	VERB
ajfa-997	122	22	commodity	commodity	NOUN
ajfa-997	122	23	prices	price	NOUN
ajfa-997	122	24	and	and	CCONJ
ajfa-997	122	25	,	,	PUNCT
ajfa-997	122	26	in	in	ADP
ajfa-997	122	27	turn	turn	NOUN
ajfa-997	122	28	,	,	PUNCT
ajfa-997	122	29	stock	stock	NOUN
ajfa-997	122	30	market	market	NOUN
ajfa-997	122	31	prices	price	NOUN
ajfa-997	122	32	.	.	PUNCT
ajfa-997	123	1	similarly	similarly	ADV
ajfa-997	123	2	,	,	PUNCT
ajfa-997	123	3	the	the	DET
ajfa-997	123	4	kharif	kharif	NOUN
ajfa-997	123	5	harvest	harvest	NOUN
ajfa-997	123	6	(	(	PUNCT
ajfa-997	123	7	also	also	ADV
ajfa-997	123	8	called	call	VERB
ajfa-997	123	9	the	the	DET
ajfa-997	123	10	“	"	PUNCT
ajfa-997	123	11	monsoon	monsoon	NOUN
ajfa-997	123	12	crop	crop	NOUN
ajfa-997	123	13	”	"	PUNCT
ajfa-997	123	14	)	)	PUNCT
ajfa-997	123	15	could	could	AUX
ajfa-997	123	16	be	be	AUX
ajfa-997	123	17	a	a	DET
ajfa-997	123	18	contributing	contribute	VERB
ajfa-997	123	19	factor	factor	NOUN
ajfa-997	123	20	for	for	ADP
ajfa-997	123	21	the	the	DET
ajfa-997	123	22	august	august	ADJ
ajfa-997	123	23	effect	effect	NOUN
ajfa-997	123	24	.	.	PUNCT
ajfa-997	124	1	the	the	DET
ajfa-997	124	2	results	result	NOUN
ajfa-997	124	3	of	of	ADP
ajfa-997	124	4	the	the	DET
ajfa-997	124	5	study	study	NOUN
ajfa-997	124	6	also	also	ADV
ajfa-997	124	7	indicate	indicate	VERB
ajfa-997	124	8	a	a	DET
ajfa-997	124	9	highly	highly	ADV
ajfa-997	124	10	significant	significant	ADJ
ajfa-997	124	11	negative	negative	ADJ
ajfa-997	124	12	impact	impact	NOUN
ajfa-997	124	13	of	of	ADP
ajfa-997	124	14	market	market	NOUN
ajfa-997	124	15	crashes	crash	NOUN
ajfa-997	124	16	on	on	ADP
ajfa-997	124	17	stock	stock	NOUN
ajfa-997	124	18	market	market	NOUN
ajfa-997	124	19	returns	return	NOUN
ajfa-997	124	20	,	,	PUNCT
ajfa-997	124	21	as	as	SCONJ
ajfa-997	124	22	would	would	AUX
ajfa-997	124	23	be	be	AUX
ajfa-997	124	24	expected	expect	VERB
ajfa-997	124	25	,	,	PUNCT
ajfa-997	124	26	and	and	CCONJ
ajfa-997	124	27	that	that	SCONJ
ajfa-997	124	28	the	the	DET
ajfa-997	124	29	incidence	incidence	NOUN
ajfa-997	124	30	of	of	ADP
ajfa-997	124	31	market	market	NOUN
ajfa-997	124	32	crashes	crash	NOUN
ajfa-997	124	33	reduces	reduce	VERB
ajfa-997	124	34	the	the	DET
ajfa-997	124	35	seasonal	seasonal	ADJ
ajfa-997	124	36	effects	effect	NOUN
ajfa-997	124	37	.	.	PUNCT
ajfa-997	125	1	there	there	PRON
ajfa-997	125	2	is	be	VERB
ajfa-997	125	3	scope	scope	NOUN
ajfa-997	125	4	for	for	ADP
ajfa-997	125	5	further	further	ADJ
ajfa-997	125	6	investigation	investigation	NOUN
ajfa-997	125	7	of	of	ADP
ajfa-997	125	8	the	the	DET
ajfa-997	125	9	interplay	interplay	NOUN
ajfa-997	125	10	between	between	ADP
ajfa-997	125	11	market	market	NOUN
ajfa-997	125	12	crashes	crash	NOUN
ajfa-997	125	13	and	and	CCONJ
ajfa-997	125	14	seasonality	seasonality	NOUN
ajfa-997	125	15	,	,	PUNCT
ajfa-997	125	16	perhaps	perhaps	ADV
ajfa-997	125	17	studying	study	VERB
ajfa-997	125	18	mediating	mediate	VERB
ajfa-997	125	19	/	/	SYM
ajfa-997	125	20	moderating	moderate	VERB
ajfa-997	125	21	effects	effect	NOUN
ajfa-997	125	22	.	.	PUNCT
ajfa-997	126	1	the	the	DET
ajfa-997	126	2	results	result	NOUN
ajfa-997	126	3	of	of	ADP
ajfa-997	126	4	the	the	DET
ajfa-997	126	5	study	study	NOUN
ajfa-997	126	6	also	also	ADV
ajfa-997	126	7	provide	provide	VERB
ajfa-997	126	8	evidence	evidence	NOUN
ajfa-997	126	9	for	for	ADP
ajfa-997	126	10	a	a	DET
ajfa-997	126	11	march	march	NOUN
ajfa-997	126	12	effect	effect	NOUN
ajfa-997	126	13	for	for	ADP
ajfa-997	126	14	stock	stock	NOUN
ajfa-997	126	15	returns	return	NOUN
ajfa-997	126	16	in	in	ADP
ajfa-997	126	17	india	india	PROPN
ajfa-997	126	18	.	.	PUNCT
ajfa-997	127	1	this	this	PRON
ajfa-997	127	2	could	could	AUX
ajfa-997	127	3	be	be	AUX
ajfa-997	127	4	because	because	SCONJ
ajfa-997	127	5	the	the	DET
ajfa-997	127	6	indian	indian	ADJ
ajfa-997	127	7	tax	tax	NOUN
ajfa-997	127	8	year	year	NOUN
ajfa-997	127	9	ends	end	VERB
ajfa-997	127	10	in	in	ADP
ajfa-997	127	11	march	march	PROPN
ajfa-997	127	12	,	,	PUNCT
ajfa-997	127	13	in	in	ADP
ajfa-997	127	14	contrast	contrast	NOUN
ajfa-997	127	15	with	with	ADP
ajfa-997	127	16	the	the	DET
ajfa-997	127	17	us	us	PROPN
ajfa-997	127	18	tax	tax	NOUN
ajfa-997	127	19	year	year	NOUN
ajfa-997	127	20	which	which	PRON
ajfa-997	127	21	ends	end	VERB
ajfa-997	127	22	in	in	ADP
ajfa-997	127	23	december	december	PROPN
ajfa-997	127	24	.	.	PUNCT
ajfa-997	128	1	the	the	DET
ajfa-997	128	2	negative	negative	ADJ
ajfa-997	128	3	march	march	NOUN
ajfa-997	128	4	returns	return	NOUN
ajfa-997	128	5	could	could	AUX
ajfa-997	128	6	be	be	AUX
ajfa-997	128	7	because	because	SCONJ
ajfa-997	128	8	of	of	ADP
ajfa-997	128	9	“	"	PUNCT
ajfa-997	128	10	tax	tax	NOUN
ajfa-997	128	11	-	-	PUNCT
ajfa-997	128	12	loss	loss	NOUN
ajfa-997	128	13	selling	selling	NOUN
ajfa-997	128	14	.	.	PUNCT
ajfa-997	128	15	”	"	PUNCT
ajfa-997	129	1	there	there	PRON
ajfa-997	129	2	are	be	VERB
ajfa-997	129	3	some	some	DET
ajfa-997	129	4	limitations	limitation	NOUN
ajfa-997	129	5	inherent	inherent	ADJ
ajfa-997	129	6	in	in	ADP
ajfa-997	129	7	the	the	DET
ajfa-997	129	8	study	study	NOUN
ajfa-997	129	9	.	.	PUNCT
ajfa-997	130	1	the	the	DET
ajfa-997	130	2	choice	choice	NOUN
ajfa-997	130	3	of	of	ADP
ajfa-997	130	4	the	the	DET
ajfa-997	130	5	market	market	NOUN
ajfa-997	130	6	crashes	crash	NOUN
ajfa-997	130	7	to	to	PART
ajfa-997	130	8	include	include	VERB
ajfa-997	130	9	in	in	ADP
ajfa-997	130	10	the	the	DET
ajfa-997	130	11	analysis	analysis	NOUN
ajfa-997	130	12	may	may	AUX
ajfa-997	130	13	have	have	VERB
ajfa-997	130	14	a	a	DET
ajfa-997	130	15	bearing	bearing	NOUN
ajfa-997	130	16	on	on	ADP
ajfa-997	130	17	the	the	DET
ajfa-997	130	18	results	result	NOUN
ajfa-997	130	19	.	.	PUNCT
ajfa-997	131	1	the	the	DET
ajfa-997	131	2	results	result	NOUN
ajfa-997	131	3	of	of	ADP
ajfa-997	131	4	the	the	DET
ajfa-997	131	5	study	study	NOUN
ajfa-997	131	6	could	could	AUX
ajfa-997	131	7	also	also	ADV
ajfa-997	131	8	be	be	AUX
ajfa-997	131	9	affected	affect	VERB
ajfa-997	131	10	by	by	ADP
ajfa-997	131	11	the	the	DET
ajfa-997	131	12	choice	choice	NOUN
ajfa-997	131	13	of	of	ADP
ajfa-997	131	14	the	the	DET
ajfa-997	131	15	research	research	NOUN
ajfa-997	131	16	period	period	NOUN
ajfa-997	131	17	,	,	PUNCT
ajfa-997	131	18	as	as	SCONJ
ajfa-997	131	19	the	the	DET
ajfa-997	131	20	selected	select	VERB
ajfa-997	131	21	research	research	NOUN
ajfa-997	131	22	period	period	NOUN
ajfa-997	131	23	is	be	AUX
ajfa-997	131	24	generally	generally	ADV
ajfa-997	131	25	considered	consider	VERB
ajfa-997	131	26	to	to	PART
ajfa-997	131	27	be	be	AUX
ajfa-997	131	28	a	a	DET
ajfa-997	131	29	bull	bull	NOUN
ajfa-997	131	30	period	period	NOUN
ajfa-997	131	31	.	.	PUNCT
ajfa-997	132	1	particularly	particularly	ADV
ajfa-997	132	2	,	,	PUNCT
ajfa-997	132	3	the	the	DET
ajfa-997	132	4	research	research	NOUN
ajfa-997	132	5	period	period	NOUN
ajfa-997	132	6	excludes	exclude	VERB
ajfa-997	132	7	the	the	DET
ajfa-997	132	8	global	global	ADJ
ajfa-997	132	9	financial	financial	ADJ
ajfa-997	132	10	crisis	crisis	NOUN
ajfa-997	132	11	;	;	PUNCT
ajfa-997	132	12	further	further	ADJ
ajfa-997	132	13	analysis	analysis	NOUN
ajfa-997	132	14	including	include	VERB
ajfa-997	132	15	the	the	DET
ajfa-997	132	16	global	global	ADJ
ajfa-997	132	17	financial	financial	ADJ
ajfa-997	132	18	crisis	crisis	NOUN
ajfa-997	132	19	and	and	CCONJ
ajfa-997	132	20	its	its	PRON
ajfa-997	132	21	aftermath	aftermath	NOUN
ajfa-997	132	22	would	would	AUX
ajfa-997	132	23	provide	provide	VERB
ajfa-997	132	24	a	a	DET
ajfa-997	132	25	much	much	ADV
ajfa-997	132	26	better	well	ADJ
ajfa-997	132	27	insight	insight	NOUN
ajfa-997	132	28	into	into	ADP
ajfa-997	132	29	the	the	DET
ajfa-997	132	30	same	same	ADJ
ajfa-997	132	31	.	.	PUNCT
ajfa-997	133	1	there	there	PRON
ajfa-997	133	2	is	be	VERB
ajfa-997	133	3	thus	thus	ADV
ajfa-997	133	4	great	great	ADJ
ajfa-997	133	5	scope	scope	NOUN
ajfa-997	133	6	for	for	ADP
ajfa-997	133	7	extending	extend	VERB
ajfa-997	133	8	the	the	DET
ajfa-997	133	9	study	study	NOUN
ajfa-997	133	10	.	.	PUNCT
ajfa-997	134	1	references	reference	NOUN
ajfa-997	134	2	:	:	PUNCT
ajfa-997	134	3	ariel	ariel	PROPN
ajfa-997	134	4	,	,	PUNCT
ajfa-997	134	5	r.a	r.a	PROPN
ajfa-997	134	6	.	.	PROPN
ajfa-997	134	7	(	(	PUNCT
ajfa-997	134	8	1990	1990	NUM
ajfa-997	134	9	)	)	PUNCT
ajfa-997	134	10	.	.	PUNCT
ajfa-997	135	1	high	high	ADJ
ajfa-997	135	2	stock	stock	NOUN
ajfa-997	135	3	returns	return	NOUN
ajfa-997	135	4	before	before	ADP
ajfa-997	135	5	holidays	holiday	NOUN
ajfa-997	135	6	:	:	PUNCT
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ajfa-997	135	13	.	.	PUNCT
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ajfa-997	136	4	,	,	PUNCT
ajfa-997	136	5	45	45	NUM
ajfa-997	136	6	,	,	PUNCT
ajfa-997	136	7	1611–25	1611–25	NUM
ajfa-997	136	8	.	.	PUNCT
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ajfa-997	137	2	bodla	bodla	NOUN
ajfa-997	137	3	,	,	PUNCT
ajfa-997	137	4	b.s	b.s	PROPN
ajfa-997	137	5	.	.	PROPN
ajfa-997	137	6	,	,	PUNCT
ajfa-997	137	7	&	&	CCONJ
ajfa-997	137	8	jindal	jindal	PROPN
ajfa-997	137	9	,	,	PUNCT
ajfa-997	137	10	k.	k.	PROPN
ajfa-997	137	11	(	(	PUNCT
ajfa-997	137	12	2006	2006	NUM
ajfa-997	137	13	)	)	PUNCT
ajfa-997	137	14	.	.	PUNCT
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ajfa-997	138	3	in	in	ADP
ajfa-997	138	4	stock	stock	NOUN
ajfa-997	138	5	returns	return	NOUN
ajfa-997	138	6	:	:	PUNCT
ajfa-997	138	7	evidence	evidence	NOUN
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ajfa-997	138	13	.	.	PUNCT
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ajfa-997	139	2	,	,	PUNCT
ajfa-997	139	3	33(1	33(1	NUM
ajfa-997	139	4	)	)	PUNCT
ajfa-997	139	5	,	,	PUNCT
ajfa-997	139	6	46	46	NUM
ajfa-997	139	7	-	-	SYM
ajfa-997	139	8	55	55	NUM
ajfa-997	139	9	.	.	PUNCT
ajfa-997	140	1	brown	brown	PROPN
ajfa-997	140	2	,	,	PUNCT
ajfa-997	140	3	p.	p.	PROPN
ajfa-997	140	4	,	,	PUNCT
ajfa-997	140	5	keim	keim	PROPN
ajfa-997	140	6	,	,	PUNCT
ajfa-997	140	7	d.b	d.b	PROPN
ajfa-997	140	8	.	.	PROPN
ajfa-997	140	9	,	,	PUNCT
ajfa-997	140	10	keleidon	keleidon	PROPN
ajfa-997	140	11	,	,	PUNCT
ajfa-997	140	12	a.w	a.w	PROPN
ajfa-997	140	13	.	.	PROPN
ajfa-997	140	14	,	,	PUNCT
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ajfa-997	140	17	,	,	PUNCT
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ajfa-997	140	19	.	.	PROPN
ajfa-997	140	20	(	(	PUNCT
ajfa-997	140	21	1983	1983	NUM
ajfa-997	140	22	)	)	PUNCT
ajfa-997	140	23	.	.	PUNCT
ajfa-997	141	1	stock	stock	NOUN
ajfa-997	141	2	return	return	NOUN
ajfa-997	141	3	seasonalities	seasonalitie	NOUN
ajfa-997	141	4	and	and	CCONJ
ajfa-997	141	5	the	the	DET
ajfa-997	141	6	tax	tax	NOUN
ajfa-997	141	7	-	-	PUNCT
ajfa-997	141	8	loss	loss	NOUN
ajfa-997	141	9	-	-	PUNCT
ajfa-997	141	10	selling	selling	NOUN
ajfa-997	141	11	-	-	PUNCT
ajfa-997	141	12	hypothesis	hypothesis	NOUN
ajfa-997	141	13	:	:	PUNCT
ajfa-997	141	14	analysis	analysis	NOUN
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ajfa-997	141	16	the	the	DET
ajfa-997	141	17	arguments	argument	NOUN
ajfa-997	141	18	and	and	CCONJ
ajfa-997	141	19	australian	australian	ADJ
ajfa-997	141	20	evidence	evidence	NOUN
ajfa-997	141	21	.	.	PUNCT
ajfa-997	142	1	journal	journal	NOUN
ajfa-997	142	2	of	of	ADP
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ajfa-997	142	4	economics	economic	NOUN
ajfa-997	142	5	,	,	PUNCT
ajfa-997	142	6	12	12	NUM
ajfa-997	142	7	,	,	PUNCT
ajfa-997	142	8	105	105	NUM
ajfa-997	142	9	-	-	SYM
ajfa-997	142	10	127	127	NUM
ajfa-997	142	11	.	.	PUNCT
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ajfa-997	143	2	cadsby	cadsby	PROPN
ajfa-997	143	3	,	,	PUNCT
ajfa-997	143	4	c.b	c.b	PROPN
ajfa-997	143	5	.	.	PROPN
ajfa-997	143	6	,	,	PUNCT
ajfa-997	143	7	&	&	CCONJ
ajfa-997	143	8	ratner	ratner	PROPN
ajfa-997	143	9	,	,	PUNCT
ajfa-997	143	10	m.	m.	NOUN
ajfa-997	143	11	(	(	PUNCT
ajfa-997	143	12	1992	1992	NUM
ajfa-997	143	13	)	)	PUNCT
ajfa-997	143	14	.	.	PUNCT
ajfa-997	144	1	turn	turn	VERB
ajfa-997	144	2	-	-	PUNCT
ajfa-997	144	3	of	of	ADP
ajfa-997	144	4	-	-	PUNCT
ajfa-997	144	5	the	the	DET
ajfa-997	144	6	-	-	PUNCT
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ajfa-997	144	9	pre	pre	ADJ
ajfa-997	144	10	-	-	ADJ
ajfa-997	144	11	holiday	holiday	ADJ
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ajfa-997	144	13	in	in	ADP
ajfa-997	144	14	stock	stock	NOUN
ajfa-997	144	15	returns	return	NOUN
ajfa-997	144	16	.	.	PUNCT
ajfa-997	145	1	journal	journal	NOUN
ajfa-997	145	2	of	of	ADP
ajfa-997	145	3	banking	banking	NOUN
ajfa-997	145	4	and	and	CCONJ
ajfa-997	145	5	finance	finance	NOUN
ajfa-997	145	6	,	,	PUNCT
ajfa-997	145	7	16	16	NUM
ajfa-997	145	8	,	,	PUNCT
ajfa-997	145	9	497–509	497–509	NUM
ajfa-997	145	10	.	.	PUNCT
ajfa-997	146	1	http://dx.doi.org/10.1016/0378-4266(92)90041-w	http://dx.doi.org/10.1016/0378-4266(92)90041-w	PROPN
ajfa-997	146	2	choudhary	choudhary	PROPN
ajfa-997	146	3	,	,	PUNCT
ajfa-997	146	4	t.	t.	PROPN
ajfa-997	146	5	(	(	PUNCT
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ajfa-997	146	7	)	)	PUNCT
ajfa-997	146	8	.	.	PUNCT
ajfa-997	147	1	month	month	NOUN
ajfa-997	147	2	of	of	ADP
ajfa-997	147	3	the	the	DET
ajfa-997	147	4	year	year	NOUN
ajfa-997	147	5	effect	effect	NOUN
ajfa-997	147	6	and	and	CCONJ
ajfa-997	147	7	january	january	PROPN
ajfa-997	147	8	effect	effect	NOUN
ajfa-997	147	9	in	in	ADP
ajfa-997	147	10	pre	pre	ADJ
ajfa-997	147	11	-	-	ADJ
ajfa-997	147	12	wwi	wwi	ADJ
ajfa-997	147	13	stock	stock	NOUN
ajfa-997	147	14	returns	return	NOUN
ajfa-997	147	15	:	:	PUNCT
ajfa-997	147	16	evidence	evidence	NOUN
ajfa-997	147	17	from	from	ADP
ajfa-997	147	18	a	a	DET
ajfa-997	147	19	non	non	ADJ
ajfa-997	147	20	-	-	ADJ
ajfa-997	147	21	linear	linear	ADJ
ajfa-997	147	22	garch	garch	NOUN
ajfa-997	147	23	.	.	PUNCT
ajfa-997	148	1	international	international	ADJ
ajfa-997	148	2	journal	journal	PROPN
ajfa-997	148	3	of	of	ADP
ajfa-997	148	4	finance	finance	PROPN
ajfa-997	148	5	&	&	CCONJ
ajfa-997	148	6	economics	economic	NOUN
ajfa-997	148	7	,	,	PUNCT
ajfa-997	148	8	6	6	NUM
ajfa-997	148	9	,	,	PUNCT
ajfa-997	148	10	1	1	NUM
ajfa-997	148	11	-	-	SYM
ajfa-997	148	12	11	11	NUM
ajfa-997	148	13	.	.	PUNCT
ajfa-997	149	1	http://dx.doi.org/10.1002/ijfe.142	http://dx.doi.org/10.1002/ijfe.142	PROPN
ajfa-997	149	2	cross	cross	PROPN
ajfa-997	149	3	,	,	PUNCT
ajfa-997	149	4	f.	f.	PROPN
ajfa-997	149	5	(	(	PUNCT
ajfa-997	149	6	1973	1973	NUM
ajfa-997	149	7	)	)	PUNCT
ajfa-997	149	8	.	.	PUNCT
ajfa-997	150	1	the	the	DET
ajfa-997	150	2	behavior	behavior	NOUN
ajfa-997	150	3	of	of	ADP
ajfa-997	150	4	stock	stock	NOUN
ajfa-997	150	5	prices	price	NOUN
ajfa-997	150	6	on	on	ADP
ajfa-997	150	7	fridays	friday	NOUN
ajfa-997	150	8	and	and	CCONJ
ajfa-997	150	9	mondays	monday	NOUN
ajfa-997	150	10	.	.	PUNCT
ajfa-997	151	1	financial	financial	ADJ
ajfa-997	151	2	analysts	analyst	NOUN
ajfa-997	151	3	journal	journal	PROPN
ajfa-997	151	4	,	,	PUNCT
ajfa-997	151	5	nov.–dec	nov.–dec	NUM
ajfa-997	151	6	.	.	PUNCT
ajfa-997	151	7	1973	1973	NUM
ajfa-997	151	8	,	,	PUNCT
ajfa-997	151	9	67–69	67–69	NUM
ajfa-997	151	10	.	.	PUNCT
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ajfa-997	152	2	elango	elango	PROPN
ajfa-997	152	3	,	,	PUNCT
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ajfa-997	152	5	,	,	PUNCT
ajfa-997	152	6	&	&	CCONJ
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ajfa-997	152	9	,	,	PUNCT
ajfa-997	152	10	n.m	n.m	PROPN
ajfa-997	152	11	.	.	PROPN
ajfa-997	152	12	(	(	PUNCT
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ajfa-997	152	14	)	)	PUNCT
ajfa-997	152	15	.	.	PUNCT
ajfa-997	153	1	monday	monday	PROPN
ajfa-997	153	2	effect	effect	NOUN
ajfa-997	153	3	and	and	CCONJ
ajfa-997	153	4	stock	stock	NOUN
ajfa-997	153	5	return	return	NOUN
ajfa-997	153	6	seasonality	seasonality	NOUN
ajfa-997	153	7	:	:	PUNCT
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ajfa-997	153	9	empirical	empirical	ADJ
ajfa-997	153	10	evidence	evidence	NOUN
ajfa-997	153	11	.	.	PUNCT
ajfa-997	154	1	the	the	DET
ajfa-997	154	2	business	business	NOUN
ajfa-997	154	3	review	review	PROPN
ajfa-997	154	4	,	,	PUNCT
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ajfa-997	154	6	10(2	10(2	NUM
ajfa-997	154	7	)	)	PUNCT
ajfa-997	154	8	,	,	PUNCT
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ajfa-997	154	10	-	-	SYM
ajfa-997	154	11	288	288	NUM
ajfa-997	154	12	;	;	PUNCT
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ajfa-997	154	14	at	at	ADP
ajfa-997	154	15	ssrn	ssrn	PROPN
ajfa-997	154	16	:	:	PUNCT
ajfa-997	154	17	http://ssrn.com/abstract=1103627	http://ssrn.com/abstract=1103627	PROPN
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ajfa-997	154	19	journal	journal	NOUN
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ajfa-997	154	21	finance	finance	PROPN
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ajfa-997	154	26	-	-	PUNCT
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ajfa-997	154	28	2011	2011	NUM
ajfa-997	154	29	,	,	PUNCT
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ajfa-997	154	31	.	.	PROPN
ajfa-997	155	1	3	3	NUM
ajfa-997	155	2	,	,	PUNCT
ajfa-997	155	3	no	no	INTJ
ajfa-997	155	4	.	.	NOUN
ajfa-997	155	5	1	1	NUM
ajfa-997	155	6	:	:	SYM
ajfa-997	155	7	e11	e11	X
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ajfa-997	155	9	183	183	NUM
ajfa-997	155	10	elango	elango	NOUN
ajfa-997	155	11	,	,	PUNCT
ajfa-997	155	12	r.	r.	PROPN
ajfa-997	155	13	,	,	PUNCT
ajfa-997	155	14	&	&	CCONJ
ajfa-997	155	15	pandey	pandey	PROPN
ajfa-997	155	16	,	,	PUNCT
ajfa-997	155	17	d.	d.	PROPN
ajfa-997	155	18	(	(	PUNCT
ajfa-997	155	19	2008	2008	NUM
ajfa-997	155	20	)	)	PUNCT
ajfa-997	155	21	.	.	PUNCT
ajfa-997	156	1	an	an	DET
ajfa-997	156	2	empirical	empirical	ADJ
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ajfa-997	156	5	january	january	PROPN
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ajfa-997	156	11	an	an	DET
ajfa-997	156	12	emerging	emerge	VERB
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ajfa-997	156	14	:	:	PUNCT
ajfa-997	156	15	evidence	evidence	NOUN
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ajfa-997	156	18	;	;	PUNCT
ajfa-997	156	19	available	available	ADJ
ajfa-997	156	20	at	at	ADP
ajfa-997	156	21	ssrn	ssrn	PROPN
ajfa-997	156	22	:	:	PUNCT
ajfa-997	156	23	http://ssrn.com/abstract=1150080	http://ssrn.com/abstract=1150080	PROPN
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ajfa-997	156	25	,	,	PUNCT
ajfa-997	156	26	g.	g.	PROPN
ajfa-997	156	27	,	,	PUNCT
ajfa-997	156	28	rothenberg	rothenberg	PROPN
ajfa-997	156	29	,	,	PUNCT
ajfa-997	156	30	t.	t.	PROPN
ajfa-997	156	31	j.	j.	PROPN
ajfa-997	156	32	,	,	PUNCT
ajfa-997	156	33	&	&	CCONJ
ajfa-997	156	34	stock	stock	PROPN
ajfa-997	156	35	,	,	PUNCT
ajfa-997	156	36	j.h	j.h	PROPN
ajfa-997	156	37	.	.	PROPN
ajfa-997	156	38	(	(	PUNCT
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ajfa-997	156	40	)	)	PUNCT
ajfa-997	156	41	.	.	PUNCT
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ajfa-997	157	7	root	root	NOUN
ajfa-997	157	8	.	.	PUNCT
ajfa-997	158	1	econometrica	econometrica	PROPN
ajfa-997	158	2	,	,	PUNCT
ajfa-997	158	3	64(4	64(4	NUM
ajfa-997	158	4	)	)	PUNCT
ajfa-997	158	5	,	,	PUNCT
ajfa-997	158	6	813–836	813–836	NUM
ajfa-997	158	7	.	.	PUNCT
ajfa-997	159	1	http://dx.doi.org/10.2307/2171846	http://dx.doi.org/10.2307/2171846	PROPN
ajfa-997	159	2	fama	fama	PROPN
ajfa-997	159	3	,	,	PUNCT
ajfa-997	159	4	e.	e.	PROPN
ajfa-997	159	5	f.	f.	PROPN
ajfa-997	159	6	(	(	PUNCT
ajfa-997	159	7	1965	1965	NUM
ajfa-997	159	8	)	)	PUNCT
ajfa-997	159	9	.	.	PUNCT
ajfa-997	160	1	efficient	efficient	ADJ
ajfa-997	160	2	capital	capital	NOUN
ajfa-997	160	3	markets	market	NOUN
ajfa-997	160	4	:	:	PUNCT
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ajfa-997	160	12	.	.	PUNCT
ajfa-997	161	1	journal	journal	NOUN
ajfa-997	161	2	of	of	ADP
ajfa-997	161	3	business	business	NOUN
ajfa-997	161	4	,	,	PUNCT
ajfa-997	161	5	1	1	NUM
ajfa-997	161	6	,	,	PUNCT
ajfa-997	161	7	34	34	NUM
ajfa-997	161	8	-	-	SYM
ajfa-997	161	9	105	105	NUM
ajfa-997	161	10	.	.	PUNCT
ajfa-997	162	1	http://dx.doi.org/10.1086/294743	http://dx.doi.org/10.1086/294743	PROPN
ajfa-997	162	2	fama	fama	PROPN
ajfa-997	162	3	,	,	PUNCT
ajfa-997	162	4	e.	e.	PROPN
ajfa-997	162	5	f.	f.	PROPN
ajfa-997	162	6	,	,	PUNCT
ajfa-997	162	7	fisher	fisher	PROPN
ajfa-997	162	8	,	,	PUNCT
ajfa-997	162	9	l.	l.	PROPN
ajfa-997	162	10	,	,	PUNCT
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ajfa-997	162	12	,	,	PUNCT
ajfa-997	162	13	m.	m.	PROPN
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ajfa-997	162	15	,	,	PUNCT
ajfa-997	162	16	&	&	CCONJ
ajfa-997	162	17	roll	roll	PROPN
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ajfa-997	162	19	r.	r.	PROPN
ajfa-997	162	20	(	(	PUNCT
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ajfa-997	162	22	)	)	PUNCT
ajfa-997	162	23	.	.	PUNCT
ajfa-997	163	1	the	the	DET
ajfa-997	163	2	adjustment	adjustment	NOUN
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ajfa-997	163	4	stock	stock	NOUN
ajfa-997	163	5	prices	price	NOUN
ajfa-997	163	6	to	to	ADP
ajfa-997	163	7	new	new	ADJ
ajfa-997	163	8	information	information	NOUN
ajfa-997	163	9	.	.	PUNCT
ajfa-997	164	1	international	international	ADJ
ajfa-997	164	2	economic	economic	ADJ
ajfa-997	164	3	review	review	NOUN
ajfa-997	164	4	,	,	PUNCT
ajfa-997	164	5	10(2	10(2	NUM
ajfa-997	164	6	)	)	PUNCT
ajfa-997	164	7	,	,	PUNCT
ajfa-997	164	8	1	1	NUM
ajfa-997	164	9	-	-	SYM
ajfa-997	164	10	21	21	NUM
ajfa-997	164	11	.	.	PUNCT
ajfa-997	165	1	http://dx.doi.org/10.2307/2525569	http://dx.doi.org/10.2307/2525569	PROPN
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ajfa-997	165	3	,	,	PUNCT
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ajfa-997	165	5	,	,	PUNCT
ajfa-997	165	6	&	&	CCONJ
ajfa-997	165	7	segredakis	segredakis	PROPN
ajfa-997	165	8	,	,	PUNCT
ajfa-997	165	9	k.n	k.n	PROPN
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ajfa-997	165	11	(	(	PUNCT
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ajfa-997	165	13	)	)	PUNCT
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ajfa-997	166	13	-	-	PUNCT
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ajfa-997	167	5	12	12	NUM
ajfa-997	167	6	,	,	PUNCT
ajfa-997	167	7	291	291	NUM
ajfa-997	167	8	-	-	SYM
ajfa-997	167	9	299	299	NUM
ajfa-997	167	10	.	.	PUNCT
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ajfa-997	168	11	,	,	PUNCT
ajfa-997	168	12	(	(	PUNCT
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ajfa-997	168	14	)	)	PUNCT
ajfa-997	168	15	.	.	PUNCT
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ajfa-997	169	6	-	-	PUNCT
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ajfa-997	169	12	.	.	PUNCT
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ajfa-997	170	2	of	of	ADP
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ajfa-997	170	4	,	,	PUNCT
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ajfa-997	170	6	,	,	PUNCT
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ajfa-997	170	8	.	.	PUNCT
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ajfa-997	171	4	m.n	m.n	PROPN
ajfa-997	171	5	.	.	PROPN
ajfa-997	171	6	,	,	PUNCT
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ajfa-997	171	8	gultekin	gultekin	PROPN
ajfa-997	171	9	,	,	PUNCT
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ajfa-997	171	13	1983	1983	NUM
ajfa-997	171	14	)	)	PUNCT
ajfa-997	171	15	.	.	PUNCT
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ajfa-997	172	7	.	.	PUNCT
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ajfa-997	173	5	,	,	PUNCT
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ajfa-997	173	7	,	,	PUNCT
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ajfa-997	173	9	-	-	SYM
ajfa-997	173	10	481	481	NUM
ajfa-997	173	11	.	.	PUNCT
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ajfa-997	174	3	,	,	PUNCT
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ajfa-997	174	6	1968	1968	NUM
ajfa-997	174	7	)	)	PUNCT
ajfa-997	174	8	.	.	PUNCT
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ajfa-997	175	5	.	.	PUNCT
ajfa-997	176	1	the	the	DET
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ajfa-997	176	4	,	,	PUNCT
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ajfa-997	176	6	tappan	tappan	PROPN
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ajfa-997	176	8	j.	j.	PROPN
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ajfa-997	176	10	,	,	PUNCT
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ajfa-997	176	14	)	)	PUNCT
ajfa-997	176	15	.	.	PUNCT
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ajfa-997	177	8	:	:	PUNCT
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ajfa-997	177	12	.	.	PUNCT
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ajfa-997	178	5	,	,	PUNCT
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ajfa-997	178	7	)	)	PUNCT
ajfa-997	178	8	,	,	PUNCT
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ajfa-997	178	10	-	-	SYM
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ajfa-997	178	13	,	,	PUNCT
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ajfa-997	178	15	.	.	PROPN
ajfa-997	178	16	,	,	PUNCT
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ajfa-997	178	18	,	,	PUNCT
ajfa-997	178	19	r.	r.	PROPN
ajfa-997	178	20	,	,	PUNCT
ajfa-997	178	21	&	&	CCONJ
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ajfa-997	178	23	,	,	PUNCT
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ajfa-997	178	25	(	(	PUNCT
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ajfa-997	178	27	)	)	PUNCT
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ajfa-997	179	7	in	in	ADP
ajfa-997	179	8	stock	stock	NOUN
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ajfa-997	179	20	.	.	PUNCT
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ajfa-997	180	6	,	,	PUNCT
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ajfa-997	180	8	,	,	PUNCT
ajfa-997	180	9	641	641	NUM
ajfa-997	180	10	-	-	SYM
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ajfa-997	180	12	.	.	PUNCT
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ajfa-997	181	3	,	,	PUNCT
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ajfa-997	181	5	(	(	PUNCT
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ajfa-997	181	8	.	.	PUNCT
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ajfa-997	183	5	(	(	PUNCT
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ajfa-997	183	8	.	.	PUNCT
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ajfa-997	184	2	-	-	PUNCT
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ajfa-997	184	9	:	:	PUNCT
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ajfa-997	184	13	.	.	PUNCT
ajfa-997	185	1	journal	journal	NOUN
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ajfa-997	185	5	,	,	PUNCT
ajfa-997	185	6	12(1	12(1	NUM
ajfa-997	185	7	)	)	PUNCT
ajfa-997	185	8	,	,	PUNCT
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ajfa-997	185	10	-	-	SYM
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ajfa-997	185	12	,	,	PUNCT
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ajfa-997	185	14	keim	keim	PROPN
ajfa-997	185	15	,	,	PUNCT
ajfa-997	185	16	d.b	d.b	PROPN
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ajfa-997	185	18	(	(	PUNCT
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ajfa-997	186	5	-	-	PUNCT
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ajfa-997	186	8	,	,	PUNCT
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ajfa-997	186	13	:	:	PUNCT
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ajfa-997	186	23	.	.	PUNCT
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ajfa-997	187	5	,	,	PUNCT
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ajfa-997	187	8	,	,	PUNCT
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ajfa-997	187	10	-	-	SYM
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ajfa-997	187	12	.	.	PUNCT
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ajfa-997	188	13	.	.	PUNCT
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ajfa-997	189	6	-	-	PUNCT
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ajfa-997	189	17	.	.	PUNCT
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ajfa-997	190	8	)	)	PUNCT
ajfa-997	190	9	,	,	PUNCT
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ajfa-997	190	11	-	-	SYM
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ajfa-997	190	13	.	.	PUNCT
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ajfa-997	191	10	-	-	PUNCT
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ajfa-997	191	13	,	,	PUNCT
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ajfa-997	192	1	3	3	NUM
ajfa-997	192	2	,	,	PUNCT
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ajfa-997	192	4	.	.	NOUN
ajfa-997	192	5	1	1	NUM
ajfa-997	192	6	:	:	SYM
ajfa-997	192	7	e11	e11	X
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ajfa-997	192	9	184	184	NUM
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ajfa-997	192	11	,	,	PUNCT
ajfa-997	192	12	j.	j.	PROPN
ajfa-997	192	13	,	,	PUNCT
ajfa-997	192	14	&	&	CCONJ
ajfa-997	192	15	smidt	smidt	PROPN
ajfa-997	192	16	,	,	PUNCT
ajfa-997	192	17	s.	s.	PROPN
ajfa-997	192	18	(	(	PUNCT
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ajfa-997	192	20	)	)	PUNCT
ajfa-997	192	21	.	.	PUNCT
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ajfa-997	193	5	?	?	PUNCT
ajfa-997	194	1	a	a	DET
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ajfa-997	195	1	the	the	DET
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ajfa-997	195	7	1(4	1(4	NUM
ajfa-997	195	8	)	)	PUNCT
ajfa-997	195	9	,	,	PUNCT
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ajfa-997	195	11	-	-	SYM
ajfa-997	195	12	425	425	NUM
ajfa-997	195	13	.	.	PUNCT
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ajfa-997	195	19	,	,	PUNCT
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ajfa-997	195	22	,	,	PUNCT
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ajfa-997	195	25	(	(	PUNCT
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ajfa-997	195	27	)	)	PUNCT
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ajfa-997	197	7	,	,	PUNCT
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ajfa-997	197	9	-	-	SYM
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ajfa-997	197	11	.	.	PUNCT
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ajfa-997	198	8	)	)	PUNCT
ajfa-997	198	9	.	.	PUNCT
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ajfa-997	199	4	,	,	PUNCT
ajfa-997	199	5	iim	iim	PROPN
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ajfa-997	199	7	.	.	PUNCT
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ajfa-997	200	2	,	,	PUNCT
ajfa-997	200	3	j.b	j.b	PROPN
ajfa-997	200	4	.	.	PUNCT
ajfa-997	200	5	(	(	PUNCT
ajfa-997	200	6	2008	2008	NUM
ajfa-997	200	7	)	)	PUNCT
ajfa-997	200	8	.	.	PUNCT
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ajfa-997	201	7	market	market	NOUN
ajfa-997	201	8	.	.	PUNCT
ajfa-997	202	1	international	international	ADJ
ajfa-997	202	2	business	business	NOUN
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ajfa-997	202	7	,	,	PUNCT
ajfa-997	202	8	7(3	7(3	NUM
ajfa-997	202	9	)	)	PUNCT
ajfa-997	202	10	,	,	PUNCT
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ajfa-997	202	12	-	-	SYM
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ajfa-997	202	14	.	.	PUNCT
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ajfa-997	203	2	,	,	PUNCT
ajfa-997	203	3	m.	m.	NOUN
ajfa-997	203	4	,	,	PUNCT
ajfa-997	203	5	thurston	thurston	PROPN
ajfa-997	203	6	,	,	PUNCT
ajfa-997	203	7	d.	d.	PROPN
ajfa-997	203	8	(	(	PUNCT
ajfa-997	203	9	1994	1994	NUM
ajfa-997	203	10	)	)	PUNCT
ajfa-997	203	11	.	.	PUNCT
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ajfa-997	204	4	?	?	PUNCT
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ajfa-997	205	5	-	-	PUNCT
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ajfa-997	205	7	-	-	PUNCT
ajfa-997	205	8	the	the	DET
ajfa-997	205	9	-	-	PUNCT
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ajfa-997	205	12	in	in	ADP
ajfa-997	205	13	the	the	DET
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ajfa-997	205	16	stock	stock	NOUN
ajfa-997	205	17	market	market	NOUN
ajfa-997	205	18	.	.	PUNCT
ajfa-997	206	1	applied	apply	VERB
ajfa-997	206	2	economic	economic	ADJ
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ajfa-997	206	4	,	,	PUNCT
ajfa-997	206	5	1	1	NUM
ajfa-997	206	6	,	,	PUNCT
ajfa-997	206	7	81	81	NUM
ajfa-997	206	8	-	-	SYM
ajfa-997	206	9	93	93	NUM
ajfa-997	206	10	.	.	PUNCT
ajfa-997	207	1	http://dx.doi.org/10.1080/135048594358195	http://dx.doi.org/10.1080/135048594358195	PROPN
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ajfa-997	207	3	,	,	PUNCT
ajfa-997	207	4	m.r	m.r	PROPN
ajfa-997	207	5	.	.	PROPN
ajfa-997	207	6	(	(	PUNCT
ajfa-997	207	7	1983	1983	NUM
ajfa-997	207	8	)	)	PUNCT
ajfa-997	207	9	.	.	PUNCT
ajfa-997	208	1	the	the	DET
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ajfa-997	208	3	stock	stock	NOUN
ajfa-997	208	4	market	market	NOUN
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ajfa-997	208	9	in	in	ADP
ajfa-997	208	10	january	january	PROPN
ajfa-997	208	11	:	:	PUNCT
ajfa-997	208	12	empirical	empirical	ADJ
ajfa-997	208	13	test	test	NOUN
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ajfa-997	208	16	-	-	PUNCT
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ajfa-997	208	20	.	.	PUNCT
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ajfa-997	209	2	of	of	ADP
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ajfa-997	209	5	,	,	PUNCT
ajfa-997	209	6	12	12	NUM
ajfa-997	209	7	,	,	PUNCT
ajfa-997	209	8	89	89	NUM
ajfa-997	209	9	-	-	SYM
ajfa-997	209	10	104	104	NUM
ajfa-997	209	11	.	.	PUNCT
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ajfa-997	210	3	,	,	PUNCT
ajfa-997	210	4	m.s	m.s	PROPN
ajfa-997	210	5	.	.	PROPN
ajfa-997	210	6	,	,	PUNCT
ajfa-997	210	7	&	&	CCONJ
ajfa-997	210	8	kinney	kinney	PROPN
ajfa-997	210	9	,	,	PUNCT
ajfa-997	210	10	w.r	w.r	PROPN
ajfa-997	210	11	.	.	PUNCT
ajfa-997	210	12	(	(	PUNCT
ajfa-997	210	13	1976	1976	NUM
ajfa-997	210	14	)	)	PUNCT
ajfa-997	210	15	.	.	PUNCT
ajfa-997	211	1	capital	capital	NOUN
ajfa-997	211	2	market	market	NOUN
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ajfa-997	211	4	:	:	PUNCT
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ajfa-997	211	11	.	.	PUNCT
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ajfa-997	212	5	,	,	PUNCT
ajfa-997	212	6	3	3	NUM
ajfa-997	212	7	,	,	PUNCT
ajfa-997	212	8	376	376	NUM
ajfa-997	212	9	-	-	SYM
ajfa-997	212	10	402	402	NUM
ajfa-997	212	11	.	.	PUNCT
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ajfa-997	213	6	(	(	PUNCT
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ajfa-997	213	9	.	.	PUNCT
ajfa-997	214	1	stock	stock	NOUN
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ajfa-997	214	4	:	:	PUNCT
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ajfa-997	214	10	stock	stock	NOUN
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ajfa-997	214	12	.	.	PUNCT
ajfa-997	215	1	nse	nse	NOUN
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ajfa-997	215	4	,	,	PUNCT
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ajfa-997	215	6	at	at	ADP
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ajfa-997	215	8	:	:	PUNCT
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ajfa-997	215	10	schwert	schwert	PROPN
ajfa-997	215	11	,	,	PUNCT
ajfa-997	215	12	g.w	g.w	PROPN
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ajfa-997	215	14	(	(	PUNCT
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ajfa-997	215	16	)	)	PUNCT
ajfa-997	215	17	.	.	PUNCT
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ajfa-997	216	5	;	;	PUNCT
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ajfa-997	216	7	handbook	handbook	NOUN
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ajfa-997	216	13	,	,	PUNCT
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ajfa-997	216	17	,	,	PUNCT
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ajfa-997	216	20	,	,	PUNCT
ajfa-997	216	21	harris	harris	PROPN
ajfa-997	216	22	,	,	PUNCT
ajfa-997	216	23	m.	m.	NOUN
ajfa-997	216	24	,	,	PUNCT
ajfa-997	216	25	stulz	stulz	ADJ
ajfa-997	216	26	,	,	PUNCT
ajfa-997	216	27	r.	r.	PROPN
ajfa-997	216	28	,	,	PUNCT
ajfa-997	216	29	publ	publ	PROPN
ajfa-997	216	30	.	.	PUNCT
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ajfa-997	217	4	smirlock	smirlock	NOUN
ajfa-997	217	5	,	,	PUNCT
ajfa-997	217	6	m.	m.	NOUN
ajfa-997	217	7	,	,	PUNCT
ajfa-997	217	8	&	&	CCONJ
ajfa-997	217	9	starks	starks	PROPN
ajfa-997	217	10	,	,	PUNCT
ajfa-997	217	11	l.	l.	PROPN
ajfa-997	217	12	(	(	PUNCT
ajfa-997	217	13	1986	1986	NUM
ajfa-997	217	14	)	)	PUNCT
ajfa-997	217	15	.	.	PUNCT
ajfa-997	218	1	day	day	NOUN
ajfa-997	218	2	of	of	ADP
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ajfa-997	218	4	week	week	NOUN
ajfa-997	218	5	and	and	CCONJ
ajfa-997	218	6	intraday	intraday	NOUN
ajfa-997	218	7	effects	effect	NOUN
ajfa-997	218	8	in	in	ADP
ajfa-997	218	9	stock	stock	NOUN
ajfa-997	218	10	returns	return	NOUN
ajfa-997	218	11	.	.	PUNCT
ajfa-997	219	1	journal	journal	NOUN
ajfa-997	219	2	of	of	ADP
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ajfa-997	219	4	economics	economic	NOUN
ajfa-997	219	5	,	,	PUNCT
ajfa-997	219	6	17	17	NUM
ajfa-997	219	7	,	,	PUNCT
ajfa-997	219	8	197	197	NUM
ajfa-997	219	9	-	-	SYM
ajfa-997	219	10	210	210	NUM
ajfa-997	219	11	.	.	PUNCT
ajfa-997	220	1	http://dx.doi.org/10.1016/0304-405x(86)90011-5	http://dx.doi.org/10.1016/0304-405x(86)90011-5	VERB
ajfa-997	220	2	wachtel	wachtel	NOUN
ajfa-997	220	3	,	,	PUNCT
ajfa-997	220	4	s.b	s.b	PROPN
ajfa-997	220	5	.	.	PROPN
ajfa-997	220	6	(	(	PUNCT
ajfa-997	220	7	1942	1942	NUM
ajfa-997	220	8	)	)	PUNCT
ajfa-997	220	9	.	.	PUNCT
ajfa-997	221	1	certain	certain	ADJ
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ajfa-997	221	7	stock	stock	NOUN
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ajfa-997	221	9	.	.	PUNCT
ajfa-997	222	1	journal	journal	PROPN
ajfa-997	222	2	of	of	ADP
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ajfa-997	222	4	,	,	PUNCT
ajfa-997	222	5	15	15	NUM
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ajfa-997	222	8	)	)	PUNCT
ajfa-997	222	9	,	,	PUNCT
ajfa-997	222	10	184	184	NUM
ajfa-997	222	11	-	-	SYM
ajfa-997	222	12	193	193	NUM
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