id	sid	tid	token	lemma	pos
cblr-1719	1	1	1_2017.2_lin_final	1_2017.2_lin_final	NUM
cblr-1719	1	2	lin	lin	PROPN
cblr-1719	1	3	–	–	PUNCT
cblr-1719	1	4	final	final	ADJ
cblr-1719	1	5	controlling	control	VERB
cblr-1719	1	6	controlling	control	VERB
cblr-1719	1	7	-	-	PUNCT
cblr-1719	1	8	minority	minority	NOUN
cblr-1719	1	9	shareholders	shareholder	NOUN
cblr-1719	1	10	:	:	PUNCT
cblr-1719	1	11	corporate	corporate	ADJ
cblr-1719	1	12	governance	governance	NOUN
cblr-1719	1	13	and	and	CCONJ
cblr-1719	1	14	leveraged	leverage	VERB
cblr-1719	1	15	corporate	corporate	ADJ
cblr-1719	1	16	control	control	NOUN
cblr-1719	1	17	yu	yu	PROPN
cblr-1719	1	18	-	-	PROPN
cblr-1719	1	19	hsin	hsin	PROPN
cblr-1719	1	20	lin∗	lin∗	VERB
cblr-1719	1	21	the	the	DET
cblr-1719	1	22	“	"	PUNCT
cblr-1719	1	23	one	one	NUM
cblr-1719	1	24	-	-	PUNCT
cblr-1719	1	25	share	share	NOUN
cblr-1719	1	26	one	one	NUM
cblr-1719	1	27	-	-	PUNCT
cblr-1719	1	28	vote	vote	NOUN
cblr-1719	1	29	principle	principle	NOUN
cblr-1719	1	30	,	,	PUNCT
cblr-1719	1	31	”	"	PUNCT
cblr-1719	1	32	which	which	PRON
cblr-1719	1	33	states	state	VERB
cblr-1719	1	34	that	that	SCONJ
cblr-1719	1	35	a	a	DET
cblr-1719	1	36	shareholder	shareholder	NOUN
cblr-1719	1	37	’s	’s	PART
cblr-1719	1	38	voting	voting	NOUN
cblr-1719	1	39	power	power	NOUN
cblr-1719	1	40	is	be	AUX
cblr-1719	1	41	proportionate	proportionate	ADJ
cblr-1719	1	42	to	to	ADP
cblr-1719	1	43	his	his	PRON
cblr-1719	1	44	or	or	CCONJ
cblr-1719	1	45	her	her	PRON
cblr-1719	1	46	economic	economic	ADJ
cblr-1719	1	47	right	right	NOUN
cblr-1719	1	48	,	,	PUNCT
cblr-1719	1	49	is	be	AUX
cblr-1719	1	50	one	one	NUM
cblr-1719	1	51	of	of	ADP
cblr-1719	1	52	the	the	DET
cblr-1719	1	53	most	most	ADV
cblr-1719	1	54	fundamental	fundamental	ADJ
cblr-1719	1	55	rules	rule	NOUN
cblr-1719	1	56	in	in	ADP
cblr-1719	1	57	modern	modern	ADJ
cblr-1719	1	58	corporate	corporate	ADJ
cblr-1719	1	59	law	law	NOUN
cblr-1719	1	60	.	.	PUNCT
cblr-1719	2	1	however	however	ADV
cblr-1719	2	2	,	,	PUNCT
cblr-1719	2	3	in	in	ADP
cblr-1719	2	4	reality	reality	NOUN
cblr-1719	2	5	,	,	PUNCT
cblr-1719	2	6	controlling	control	VERB
cblr-1719	2	7	shareholders	shareholder	NOUN
cblr-1719	2	8	often	often	ADV
cblr-1719	2	9	obtain	obtain	VERB
cblr-1719	2	10	voting	voting	NOUN
cblr-1719	2	11	rights	right	NOUN
cblr-1719	2	12	in	in	ADP
cblr-1719	2	13	excess	excess	NOUN
cblr-1719	2	14	of	of	ADP
cblr-1719	2	15	their	their	PRON
cblr-1719	2	16	economic	economic	ADJ
cblr-1719	2	17	rights	right	NOUN
cblr-1719	2	18	through	through	ADP
cblr-1719	2	19	control	control	NOUN
cblr-1719	2	20	-	-	PUNCT
cblr-1719	2	21	enhancing	enhance	VERB
cblr-1719	2	22	mechanisms	mechanism	NOUN
cblr-1719	2	23	,	,	PUNCT
cblr-1719	2	24	allowing	allow	VERB
cblr-1719	2	25	them	they	PRON
cblr-1719	2	26	to	to	PART
cblr-1719	2	27	leverage	leverage	VERB
cblr-1719	2	28	control	control	NOUN
cblr-1719	2	29	over	over	ADP
cblr-1719	2	30	the	the	DET
cblr-1719	2	31	firm	firm	NOUN
cblr-1719	2	32	.	.	PUNCT
cblr-1719	3	1	empirical	empirical	ADJ
cblr-1719	3	2	studies	study	NOUN
cblr-1719	3	3	indicate	indicate	VERB
cblr-1719	3	4	that	that	SCONJ
cblr-1719	3	5	leveraged	leverage	VERB
cblr-1719	3	6	corporate	corporate	ADJ
cblr-1719	3	7	control	control	NOUN
cblr-1719	3	8	is	be	AUX
cblr-1719	3	9	prevalent	prevalent	ADJ
cblr-1719	3	10	among	among	ADP
cblr-1719	3	11	listed	list	VERB
cblr-1719	3	12	companies	company	NOUN
cblr-1719	3	13	of	of	ADP
cblr-1719	3	14	various	various	ADJ
cblr-1719	3	15	countries	country	NOUN
cblr-1719	3	16	,	,	PUNCT
cblr-1719	3	17	yet	yet	ADV
cblr-1719	3	18	,	,	PUNCT
cblr-1719	3	19	to	to	ADP
cblr-1719	3	20	date	date	NOUN
cblr-1719	3	21	,	,	PUNCT
cblr-1719	3	22	many	many	ADJ
cblr-1719	3	23	countries	country	NOUN
cblr-1719	3	24	still	still	ADV
cblr-1719	3	25	disagree	disagree	VERB
cblr-1719	3	26	on	on	ADP
cblr-1719	3	27	a	a	DET
cblr-1719	3	28	regulatory	regulatory	ADJ
cblr-1719	3	29	framework	framework	NOUN
cblr-1719	3	30	.	.	PUNCT
cblr-1719	4	1	the	the	DET
cblr-1719	4	2	eu	eu	PROPN
cblr-1719	4	3	and	and	CCONJ
cblr-1719	4	4	oecd	oecd	PROPN
cblr-1719	4	5	conducted	conduct	VERB
cblr-1719	4	6	studies	study	NOUN
cblr-1719	4	7	concerning	concern	VERB
cblr-1719	4	8	the	the	DET
cblr-1719	4	9	regulatory	regulatory	ADJ
cblr-1719	4	10	policy	policy	NOUN
cblr-1719	4	11	over	over	ADP
cblr-1719	4	12	control	control	NOUN
cblr-1719	4	13	-	-	PUNCT
cblr-1719	4	14	enhancing	enhance	VERB
cblr-1719	4	15	mechanisms	mechanism	NOUN
cblr-1719	4	16	several	several	ADJ
cblr-1719	4	17	years	year	NOUN
cblr-1719	4	18	ago	ago	ADV
cblr-1719	4	19	.	.	PUNCT
cblr-1719	5	1	however	however	ADV
cblr-1719	5	2	,	,	PUNCT
cblr-1719	5	3	failing	fail	VERB
cblr-1719	5	4	to	to	PART
cblr-1719	5	5	reach	reach	VERB
cblr-1719	5	6	a	a	DET
cblr-1719	5	7	consensus	consensus	NOUN
cblr-1719	5	8	,	,	PUNCT
cblr-1719	5	9	the	the	DET
cblr-1719	5	10	reports	report	NOUN
cblr-1719	5	11	only	only	ADV
cblr-1719	5	12	advised	advise	VERB
cblr-1719	5	13	governments	government	NOUN
cblr-1719	5	14	to	to	PART
cblr-1719	5	15	enhance	enhance	VERB
cblr-1719	5	16	disclosure	disclosure	NOUN
cblr-1719	5	17	and	and	CCONJ
cblr-1719	5	18	transparency	transparency	NOUN
cblr-1719	5	19	.	.	PUNCT
cblr-1719	6	1	in	in	ADP
cblr-1719	6	2	recent	recent	ADJ
cblr-1719	6	3	years	year	NOUN
cblr-1719	6	4	,	,	PUNCT
cblr-1719	6	5	entrepreneurs	entrepreneur	NOUN
cblr-1719	6	6	hoping	hope	VERB
cblr-1719	6	7	to	to	PART
cblr-1719	6	8	maintain	maintain	VERB
cblr-1719	6	9	their	their	PRON
cblr-1719	6	10	control	control	NOUN
cblr-1719	6	11	after	after	SCONJ
cblr-1719	6	12	public	public	ADJ
cblr-1719	6	13	listing	listing	NOUN
cblr-1719	6	14	have	have	AUX
cblr-1719	6	15	sought	seek	VERB
cblr-1719	6	16	to	to	PART
cblr-1719	6	17	utilize	utilize	VERB
cblr-1719	6	18	dual	dual	ADJ
cblr-1719	6	19	-	-	PUNCT
cblr-1719	6	20	class	class	NOUN
cblr-1719	6	21	share	share	NOUN
cblr-1719	6	22	structures	structure	NOUN
cblr-1719	6	23	to	to	PART
cblr-1719	6	24	leverage	leverage	VERB
cblr-1719	6	25	corporate	corporate	ADJ
cblr-1719	6	26	control	control	NOUN
cblr-1719	6	27	when	when	SCONJ
cblr-1719	6	28	going	go	VERB
cblr-1719	6	29	public	public	ADJ
cblr-1719	6	30	.	.	PUNCT
cblr-1719	7	1	this	this	PRON
cblr-1719	7	2	led	lead	VERB
cblr-1719	7	3	to	to	ADP
cblr-1719	7	4	recent	recent	ADJ
cblr-1719	7	5	reviews	review	NOUN
cblr-1719	7	6	by	by	ADP
cblr-1719	7	7	the	the	DET
cblr-1719	7	8	hong	hong	PROPN
cblr-1719	7	9	kong	kong	PROPN
cblr-1719	7	10	and	and	CCONJ
cblr-1719	7	11	singapore	singapore	PROPN
cblr-1719	7	12	stock	stock	NOUN
cblr-1719	7	13	exchanges	exchange	NOUN
cblr-1719	7	14	—	—	PUNCT
cblr-1719	7	15	the	the	DET
cblr-1719	7	16	hong	hong	PROPN
cblr-1719	7	17	kong	kong	PROPN
cblr-1719	7	18	stock	stock	PROPN
cblr-1719	7	19	exchange	exchange	PROPN
cblr-1719	7	20	∗	∗	NOUN
cblr-1719	7	21	assistant	assistant	PROPN
cblr-1719	7	22	professor	professor	NOUN
cblr-1719	7	23	,	,	PUNCT
cblr-1719	7	24	city	city	PROPN
cblr-1719	7	25	university	university	PROPN
cblr-1719	7	26	of	of	ADP
cblr-1719	7	27	hong	hong	PROPN
cblr-1719	7	28	kong	kong	PROPN
cblr-1719	7	29	school	school	PROPN
cblr-1719	7	30	of	of	ADP
cblr-1719	7	31	law	law	NOUN
cblr-1719	7	32	.	.	PUNCT
cblr-1719	8	1	j.s.d	j.s.d	PROPN
cblr-1719	8	2	.	.	PROPN
cblr-1719	8	3	,	,	PUNCT
cblr-1719	8	4	stanford	stanford	PROPN
cblr-1719	8	5	law	law	PROPN
cblr-1719	8	6	school	school	NOUN
cblr-1719	8	7	.	.	PUNCT
cblr-1719	9	1	this	this	DET
cblr-1719	9	2	paper	paper	NOUN
cblr-1719	9	3	has	have	AUX
cblr-1719	9	4	been	be	AUX
cblr-1719	9	5	presented	present	VERB
cblr-1719	9	6	at	at	ADP
cblr-1719	9	7	the	the	DET
cblr-1719	9	8	international	international	ADJ
cblr-1719	9	9	symposium	symposium	NOUN
cblr-1719	9	10	on	on	ADP
cblr-1719	9	11	corporate	corporate	ADJ
cblr-1719	9	12	governance	governance	NOUN
cblr-1719	9	13	and	and	CCONJ
cblr-1719	9	14	capital	capital	NOUN
cblr-1719	9	15	markets	market	NOUN
cblr-1719	9	16	in	in	ADP
cblr-1719	9	17	university	university	PROPN
cblr-1719	9	18	of	of	ADP
cblr-1719	9	19	ottawa	ottawa	PROPN
cblr-1719	9	20	,	,	PUNCT
cblr-1719	9	21	and	and	CCONJ
cblr-1719	9	22	faculty	faculty	NOUN
cblr-1719	9	23	workshops	workshop	NOUN
cblr-1719	9	24	in	in	ADP
cblr-1719	9	25	academia	academia	PROPN
cblr-1719	9	26	sinica	sinica	PROPN
cblr-1719	9	27	institutum	institutum	PROPN
cblr-1719	9	28	iurisprudentiae	iurisprudentiae	PROPN
cblr-1719	9	29	and	and	CCONJ
cblr-1719	9	30	peking	peking	PROPN
cblr-1719	9	31	university	university	NOUN
cblr-1719	9	32	law	law	NOUN
cblr-1719	9	33	school	school	NOUN
cblr-1719	9	34	.	.	PUNCT
cblr-1719	10	1	i	i	PRON
cblr-1719	10	2	am	be	AUX
cblr-1719	10	3	grateful	grateful	ADJ
cblr-1719	10	4	to	to	PART
cblr-1719	10	5	jianjun	jianjun	VERB
cblr-1719	10	6	bai	bai	PROPN
cblr-1719	10	7	,	,	PUNCT
cblr-1719	10	8	yun	yun	PROPN
cblr-1719	10	9	-	-	PUNCT
cblr-1719	10	10	chien	chien	PROPN
cblr-1719	10	11	chang	chang	PROPN
cblr-1719	10	12	,	,	PUNCT
cblr-1719	10	13	jean	jean	PROPN
cblr-1719	10	14	-	-	PUNCT
cblr-1719	10	15	marc	marc	PROPN
cblr-1719	10	16	coicaud	coicaud	PROPN
cblr-1719	10	17	,	,	PUNCT
cblr-1719	10	18	tze	tze	ADJ
cblr-1719	10	19	-	-	PUNCT
cblr-1719	10	20	shiou	shiou	NOUN
cblr-1719	10	21	chien	chien	PROPN
cblr-1719	10	22	,	,	PUNCT
cblr-1719	10	23	feng	feng	PROPN
cblr-1719	10	24	deng	deng	PROPN
cblr-1719	10	25	,	,	PUNCT
cblr-1719	10	26	christoph	christoph	PROPN
cblr-1719	10	27	van	van	PROPN
cblr-1719	10	28	der	der	PROPN
cblr-1719	10	29	elst	elst	PROPN
cblr-1719	10	30	,	,	PUNCT
cblr-1719	10	31	franklin	franklin	PROPN
cblr-1719	10	32	a.	a.	NOUN
cblr-1719	10	33	gevurtz	gevurtz	PROPN
cblr-1719	10	34	,	,	PUNCT
cblr-1719	10	35	li	li	PROPN
cblr-1719	10	36	guo	guo	PROPN
cblr-1719	10	37	,	,	PUNCT
cblr-1719	10	38	yuliya	yuliya	PROPN
cblr-1719	10	39	guseva	guseva	PROPN
cblr-1719	10	40	,	,	PUNCT
cblr-1719	10	41	brenda	brenda	PROPN
cblr-1719	10	42	hannigan	hannigan	PROPN
cblr-1719	10	43	,	,	PUNCT
cblr-1719	10	44	yanrong	yanrong	PROPN
cblr-1719	10	45	hong	hong	PROPN
cblr-1719	10	46	,	,	PUNCT
cblr-1719	10	47	jyh	jyh	NOUN
cblr-1719	10	48	-	-	PUNCT
cblr-1719	10	49	an	an	DET
cblr-1719	10	50	lee	lee	PROPN
cblr-1719	10	51	,	,	PUNCT
cblr-1719	10	52	tzu	tzu	PROPN
cblr-1719	10	53	-	-	PUNCT
cblr-1719	10	54	yi	yi	PROPN
cblr-1719	10	55	lin	lin	PROPN
cblr-1719	10	56	,	,	PUNCT
cblr-1719	10	57	yan	yan	PROPN
cblr-1719	10	58	liu	liu	PROPN
cblr-1719	10	59	,	,	PUNCT
cblr-1719	10	60	corrado	corrado	PROPN
cblr-1719	10	61	malberti	malberti	PROPN
cblr-1719	10	62	,	,	PUNCT
cblr-1719	10	63	bing	bing	NOUN
cblr-1719	10	64	peng	peng	PROPN
cblr-1719	10	65	,	,	PUNCT
cblr-1719	10	66	p.m.	p.m.	NOUN
cblr-1719	10	67	vasu	vasu	PROPN
cblr-1719	10	68	,	,	PUNCT
cblr-1719	10	69	and	and	CCONJ
cblr-1719	10	70	susan	susan	PROPN
cblr-1719	10	71	watson	watson	PROPN
cblr-1719	10	72	for	for	ADP
cblr-1719	10	73	helpful	helpful	ADJ
cblr-1719	10	74	comments	comment	NOUN
cblr-1719	10	75	and	and	CCONJ
cblr-1719	10	76	discussions	discussion	NOUN
cblr-1719	10	77	.	.	PUNCT
cblr-1719	11	1	i	i	PRON
cblr-1719	11	2	would	would	AUX
cblr-1719	11	3	also	also	ADV
cblr-1719	11	4	like	like	VERB
cblr-1719	11	5	to	to	PART
cblr-1719	11	6	thank	thank	VERB
cblr-1719	11	7	the	the	DET
cblr-1719	11	8	editors	editor	NOUN
cblr-1719	11	9	of	of	ADP
cblr-1719	11	10	columbia	columbia	PROPN
cblr-1719	11	11	business	business	PROPN
cblr-1719	11	12	law	law	PROPN
cblr-1719	11	13	review	review	NOUN
cblr-1719	11	14	for	for	ADP
cblr-1719	11	15	their	their	PRON
cblr-1719	11	16	excellent	excellent	ADJ
cblr-1719	11	17	editing	editing	NOUN
cblr-1719	11	18	support	support	NOUN
cblr-1719	11	19	and	and	CCONJ
cblr-1719	11	20	city	city	NOUN
cblr-1719	11	21	university	university	PROPN
cblr-1719	11	22	of	of	ADP
cblr-1719	11	23	hong	hong	PROPN
cblr-1719	11	24	kong	kong	PROPN
cblr-1719	11	25	for	for	ADP
cblr-1719	11	26	financial	financial	ADJ
cblr-1719	11	27	assistance	assistance	NOUN
cblr-1719	11	28	.	.	PUNCT
cblr-1719	12	1	lin	lin	PROPN
cblr-1719	12	2	–	–	PUNCT
cblr-1719	12	3	final	final	ADJ
cblr-1719	12	4	454	454	NUM
cblr-1719	12	5	columbia	columbia	PROPN
cblr-1719	12	6	business	business	NOUN
cblr-1719	12	7	law	law	PROPN
cblr-1719	12	8	review	review	NOUN
cblr-1719	12	9	[	[	X
cblr-1719	12	10	vol	vol	NOUN
cblr-1719	12	11	.	.	PUNCT
cblr-1719	12	12	2017	2017	NUM
cblr-1719	12	13	refused	refuse	VERB
cblr-1719	12	14	to	to	PART
cblr-1719	12	15	grant	grant	VERB
cblr-1719	12	16	listing	list	VERB
cblr-1719	12	17	with	with	ADP
cblr-1719	12	18	dual	dual	ADJ
cblr-1719	12	19	-	-	PUNCT
cblr-1719	12	20	class	class	NOUN
cblr-1719	12	21	share	share	NOUN
cblr-1719	12	22	structure	structure	NOUN
cblr-1719	12	23	,	,	PUNCT
cblr-1719	12	24	while	while	SCONJ
cblr-1719	12	25	the	the	DET
cblr-1719	12	26	singapore	singapore	PROPN
cblr-1719	12	27	stock	stock	PROPN
cblr-1719	12	28	exchange	exchange	PROPN
cblr-1719	12	29	approved	approve	VERB
cblr-1719	12	30	the	the	DET
cblr-1719	12	31	proposal	proposal	NOUN
cblr-1719	12	32	to	to	PART
cblr-1719	12	33	allow	allow	VERB
cblr-1719	12	34	listing	list	VERB
cblr-1719	12	35	companies	company	NOUN
cblr-1719	12	36	to	to	PART
cblr-1719	12	37	have	have	VERB
cblr-1719	12	38	dual	dual	ADJ
cblr-1719	12	39	-	-	PUNCT
cblr-1719	12	40	class	class	NOUN
cblr-1719	12	41	shares	share	NOUN
cblr-1719	12	42	in	in	ADP
cblr-1719	12	43	order	order	NOUN
cblr-1719	12	44	to	to	PART
cblr-1719	12	45	maintain	maintain	VERB
cblr-1719	12	46	competitiveness	competitiveness	NOUN
cblr-1719	12	47	.	.	PUNCT
cblr-1719	13	1	this	this	DET
cblr-1719	13	2	recent	recent	ADJ
cblr-1719	13	3	development	development	NOUN
cblr-1719	13	4	further	far	ADV
cblr-1719	13	5	exemplifies	exemplify	VERB
cblr-1719	13	6	the	the	DET
cblr-1719	13	7	complexities	complexity	NOUN
cblr-1719	13	8	involved	involve	VERB
cblr-1719	13	9	in	in	ADP
cblr-1719	13	10	regulating	regulate	VERB
cblr-1719	13	11	leveraged	leveraged	ADJ
cblr-1719	13	12	corporate	corporate	ADJ
cblr-1719	13	13	control	control	NOUN
cblr-1719	13	14	and	and	CCONJ
cblr-1719	13	15	the	the	DET
cblr-1719	13	16	need	need	NOUN
cblr-1719	13	17	to	to	PART
cblr-1719	13	18	address	address	VERB
cblr-1719	13	19	relevant	relevant	ADJ
cblr-1719	13	20	corporate	corporate	ADJ
cblr-1719	13	21	governance	governance	NOUN
cblr-1719	13	22	concerns	concern	NOUN
cblr-1719	13	23	.	.	PUNCT
cblr-1719	14	1	this	this	DET
cblr-1719	14	2	article	article	NOUN
cblr-1719	14	3	reviews	review	VERB
cblr-1719	14	4	the	the	DET
cblr-1719	14	5	inadequacy	inadequacy	NOUN
cblr-1719	14	6	of	of	ADP
cblr-1719	14	7	past	past	ADJ
cblr-1719	14	8	theoretical	theoretical	ADJ
cblr-1719	14	9	and	and	CCONJ
cblr-1719	14	10	empirical	empirical	ADJ
cblr-1719	14	11	research	research	NOUN
cblr-1719	14	12	on	on	ADP
cblr-1719	14	13	leveraged	leverage	VERB
cblr-1719	14	14	corporate	corporate	ADJ
cblr-1719	14	15	control	control	NOUN
cblr-1719	14	16	,	,	PUNCT
cblr-1719	14	17	and	and	CCONJ
cblr-1719	14	18	reexamines	reexamine	VERB
cblr-1719	14	19	the	the	DET
cblr-1719	14	20	issue	issue	NOUN
cblr-1719	14	21	of	of	ADP
cblr-1719	14	22	corporate	corporate	ADJ
cblr-1719	14	23	governance	governance	NOUN
cblr-1719	14	24	from	from	ADP
cblr-1719	14	25	the	the	DET
cblr-1719	14	26	contractarian	contractarian	ADJ
cblr-1719	14	27	view	view	NOUN
cblr-1719	14	28	of	of	ADP
cblr-1719	14	29	corporate	corporate	ADJ
cblr-1719	14	30	law	law	NOUN
cblr-1719	14	31	.	.	PUNCT
cblr-1719	15	1	the	the	DET
cblr-1719	15	2	article	article	NOUN
cblr-1719	15	3	differentiates	differentiate	VERB
cblr-1719	15	4	between	between	ADP
cblr-1719	15	5	the	the	DET
cblr-1719	15	6	ipo	ipo	NOUN
cblr-1719	15	7	and	and	CCONJ
cblr-1719	15	8	post	post	NOUN
cblr-1719	15	9	-	-	ADJ
cblr-1719	15	10	ipo	ipo	NOUN
cblr-1719	15	11	(	(	PUNCT
cblr-1719	15	12	or	or	CCONJ
cblr-1719	15	13	midstream	midstream	NOUN
cblr-1719	15	14	)	)	PUNCT
cblr-1719	15	15	stages	stage	NOUN
cblr-1719	15	16	and	and	CCONJ
cblr-1719	15	17	argues	argue	VERB
cblr-1719	15	18	that	that	SCONJ
cblr-1719	15	19	the	the	DET
cblr-1719	15	20	contracting	contracting	NOUN
cblr-1719	15	21	mechanism	mechanism	NOUN
cblr-1719	15	22	does	do	AUX
cblr-1719	15	23	not	not	PART
cblr-1719	15	24	work	work	VERB
cblr-1719	15	25	well	well	ADV
cblr-1719	15	26	in	in	ADP
cblr-1719	15	27	the	the	DET
cblr-1719	15	28	midstream	midstream	NOUN
cblr-1719	15	29	stage	stage	NOUN
cblr-1719	15	30	.	.	PUNCT
cblr-1719	16	1	controlling	control	VERB
cblr-1719	16	2	-	-	PUNCT
cblr-1719	16	3	minority	minority	NOUN
cblr-1719	16	4	shareholders	shareholder	NOUN
cblr-1719	16	5	usually	usually	ADV
cblr-1719	16	6	set	set	VERB
cblr-1719	16	7	out	out	ADP
cblr-1719	16	8	various	various	ADJ
cblr-1719	16	9	pro	pro	ADJ
cblr-1719	16	10	-	-	ADJ
cblr-1719	16	11	insider	insider	ADJ
cblr-1719	16	12	provisions	provision	NOUN
cblr-1719	16	13	in	in	ADP
cblr-1719	16	14	ipo	ipo	PROPN
cblr-1719	16	15	charters	charter	NOUN
cblr-1719	16	16	,	,	PUNCT
cblr-1719	16	17	which	which	PRON
cblr-1719	16	18	deters	deter	VERB
cblr-1719	16	19	minority	minority	NOUN
cblr-1719	16	20	shareholders	shareholder	NOUN
cblr-1719	16	21	from	from	ADP
cblr-1719	16	22	repealing	repeal	VERB
cblr-1719	16	23	inefficient	inefficient	ADJ
cblr-1719	16	24	provisions	provision	NOUN
cblr-1719	16	25	or	or	CCONJ
cblr-1719	16	26	adopting	adopt	VERB
cblr-1719	16	27	other	other	ADJ
cblr-1719	16	28	value	value	NOUN
cblr-1719	16	29	-	-	PUNCT
cblr-1719	16	30	increasing	increase	VERB
cblr-1719	16	31	provisions	provision	NOUN
cblr-1719	16	32	in	in	ADP
cblr-1719	16	33	the	the	DET
cblr-1719	16	34	midstream	midstream	NOUN
cblr-1719	16	35	.	.	PUNCT
cblr-1719	17	1	furthermore	furthermore	ADV
cblr-1719	17	2	,	,	PUNCT
cblr-1719	17	3	through	through	ADP
cblr-1719	17	4	an	an	DET
cblr-1719	17	5	analysis	analysis	NOUN
cblr-1719	17	6	google	google	PROPN
cblr-1719	17	7	and	and	CCONJ
cblr-1719	17	8	facebook	facebook	PROPN
cblr-1719	17	9	’s	’s	PART
cblr-1719	17	10	midstream	midstream	NOUN
cblr-1719	17	11	issuance	issuance	NOUN
cblr-1719	17	12	of	of	ADP
cblr-1719	17	13	non	non	ADJ
cblr-1719	17	14	-	-	ADJ
cblr-1719	17	15	voting	voting	ADJ
cblr-1719	17	16	class	class	NOUN
cblr-1719	17	17	c	c	NOUN
cblr-1719	17	18	shares	share	NOUN
cblr-1719	17	19	and	and	CCONJ
cblr-1719	17	20	the	the	DET
cblr-1719	17	21	recent	recent	ADJ
cblr-1719	17	22	going	go	VERB
cblr-1719	17	23	-	-	PUNCT
cblr-1719	17	24	private	private	ADJ
cblr-1719	17	25	transactions	transaction	NOUN
cblr-1719	17	26	of	of	ADP
cblr-1719	17	27	u.s.-listed	u.s.-listed	ADJ
cblr-1719	17	28	chinese	chinese	ADJ
cblr-1719	17	29	firms	firm	NOUN
cblr-1719	17	30	,	,	PUNCT
cblr-1719	17	31	this	this	DET
cblr-1719	17	32	article	article	NOUN
cblr-1719	17	33	illustrates	illustrate	VERB
cblr-1719	17	34	the	the	DET
cblr-1719	17	35	opportunistic	opportunistic	ADJ
cblr-1719	17	36	behaviors	behavior	NOUN
cblr-1719	17	37	of	of	ADP
cblr-1719	17	38	leveraged	leverage	VERB
cblr-1719	17	39	corporate	corporate	ADJ
cblr-1719	17	40	controllers	controller	NOUN
cblr-1719	17	41	through	through	ADP
cblr-1719	17	42	midstream	midstream	NOUN
cblr-1719	17	43	charter	charter	NOUN
cblr-1719	17	44	amendments	amendment	NOUN
cblr-1719	17	45	.	.	PUNCT
cblr-1719	18	1	finally	finally	ADV
cblr-1719	18	2	,	,	PUNCT
cblr-1719	18	3	this	this	DET
cblr-1719	18	4	article	article	NOUN
cblr-1719	18	5	discusses	discuss	VERB
cblr-1719	18	6	potential	potential	ADJ
cblr-1719	18	7	governance	governance	NOUN
cblr-1719	18	8	strategies	strategy	NOUN
cblr-1719	18	9	against	against	ADP
cblr-1719	18	10	pro	pro	ADJ
cblr-1719	18	11	-	-	ADJ
cblr-1719	18	12	insider	insider	ADJ
cblr-1719	18	13	midstream	midstream	NOUN
cblr-1719	18	14	distortions	distortion	NOUN
cblr-1719	18	15	.	.	PUNCT
cblr-1719	19	1	adhering	adhere	VERB
cblr-1719	19	2	to	to	ADP
cblr-1719	19	3	the	the	DET
cblr-1719	19	4	“	"	PUNCT
cblr-1719	19	5	one	one	NUM
cblr-1719	19	6	-	-	PUNCT
cblr-1719	19	7	share	share	NOUN
cblr-1719	19	8	one	one	NUM
cblr-1719	19	9	-	-	PUNCT
cblr-1719	19	10	vote	vote	NOUN
cblr-1719	19	11	”	"	PUNCT
cblr-1719	19	12	principle	principle	NOUN
cblr-1719	19	13	and	and	CCONJ
cblr-1719	19	14	prohibiting	prohibit	VERB
cblr-1719	19	15	dual	dual	ADJ
cblr-1719	19	16	-	-	PUNCT
cblr-1719	19	17	class	class	NOUN
cblr-1719	19	18	share	share	NOUN
cblr-1719	19	19	structure	structure	NOUN
cblr-1719	19	20	would	would	AUX
cblr-1719	19	21	hinder	hinder	VERB
cblr-1719	19	22	the	the	DET
cblr-1719	19	23	flexibility	flexibility	NOUN
cblr-1719	19	24	of	of	ADP
cblr-1719	19	25	corporate	corporate	ADJ
cblr-1719	19	26	financing	financing	NOUN
cblr-1719	19	27	and	and	CCONJ
cblr-1719	19	28	affect	affect	VERB
cblr-1719	19	29	economic	economic	ADJ
cblr-1719	19	30	development	development	NOUN
cblr-1719	19	31	.	.	PUNCT
cblr-1719	20	1	this	this	DET
cblr-1719	20	2	article	article	NOUN
cblr-1719	20	3	therefore	therefore	ADV
cblr-1719	20	4	argues	argue	VERB
cblr-1719	20	5	against	against	ADP
cblr-1719	20	6	outright	outright	ADJ
cblr-1719	20	7	prohibition	prohibition	NOUN
cblr-1719	20	8	of	of	ADP
cblr-1719	20	9	control	control	NOUN
cblr-1719	20	10	-	-	PUNCT
cblr-1719	20	11	enhancing	enhance	VERB
cblr-1719	20	12	mechanisms	mechanism	NOUN
cblr-1719	20	13	and	and	CCONJ
cblr-1719	20	14	advocates	advocate	NOUN
cblr-1719	20	15	returning	return	VERB
cblr-1719	20	16	the	the	DET
cblr-1719	20	17	governance	governance	NOUN
cblr-1719	20	18	decision	decision	NOUN
cblr-1719	20	19	to	to	ADP
cblr-1719	20	20	the	the	DET
cblr-1719	20	21	hands	hand	NOUN
cblr-1719	20	22	of	of	ADP
cblr-1719	20	23	shareholders	shareholder	NOUN
cblr-1719	20	24	by	by	ADP
cblr-1719	20	25	empowering	empower	VERB
cblr-1719	20	26	shareholders	shareholder	NOUN
cblr-1719	20	27	.	.	PUNCT
cblr-1719	21	1	in	in	ADP
cblr-1719	21	2	particular	particular	ADJ
cblr-1719	21	3	,	,	PUNCT
cblr-1719	21	4	the	the	DET
cblr-1719	21	5	participation	participation	NOUN
cblr-1719	21	6	of	of	ADP
cblr-1719	21	7	institutional	institutional	ADJ
cblr-1719	21	8	investors	investor	NOUN
cblr-1719	21	9	and	and	CCONJ
cblr-1719	21	10	shareholder	shareholder	NOUN
cblr-1719	21	11	activists	activist	NOUN
cblr-1719	21	12	is	be	AUX
cblr-1719	21	13	essential	essential	ADJ
cblr-1719	21	14	to	to	PART
cblr-1719	21	15	counteract	counteract	VERB
cblr-1719	21	16	the	the	DET
cblr-1719	21	17	superpower	superpower	NOUN
cblr-1719	21	18	of	of	ADP
cblr-1719	21	19	controlling	control	VERB
cblr-1719	21	20	-	-	PUNCT
cblr-1719	21	21	minority	minority	NOUN
cblr-1719	21	22	shareholders	shareholder	NOUN
cblr-1719	21	23	and	and	CCONJ
cblr-1719	21	24	to	to	PART
cblr-1719	21	25	govern	govern	VERB
cblr-1719	21	26	their	their	PRON
cblr-1719	21	27	midstream	midstream	NOUN
cblr-1719	21	28	opportunistic	opportunistic	ADJ
cblr-1719	21	29	behaviors	behavior	NOUN
cblr-1719	21	30	.	.	PUNCT
cblr-1719	22	1	i.	i.	PROPN
cblr-1719	22	2	  	  	SPACE
cblr-1719	22	3	introduction	introduction	NOUN
cblr-1719	22	4	....................................................................	....................................................................	PUNCT
cblr-1719	22	5	456	456	NUM
cblr-1719	22	6	  	  	SPACE
cblr-1719	22	7	ii	ii	NOUN
cblr-1719	22	8	.	.	PUNCT
cblr-1719	22	9	  	  	SPACE
cblr-1719	22	10	overview	overview	NOUN
cblr-1719	22	11	.......................................................................	.......................................................................	PUNCT
cblr-1719	23	1	460	460	NUM
cblr-1719	23	2	  	  	SPACE
cblr-1719	23	3	a.	a.	NOUN
cblr-1719	23	4	  	  	SPACE
cblr-1719	23	5	the	the	DET
cblr-1719	23	6	practice	practice	NOUN
cblr-1719	23	7	..........................................................	..........................................................	PUNCT
cblr-1719	23	8	460	460	NUM
cblr-1719	23	9	  	  	SPACE
cblr-1719	23	10	lin	lin	PROPN
cblr-1719	23	11	–	–	PUNCT
cblr-1719	23	12	final	final	ADJ
cblr-1719	23	13	no	no	NOUN
cblr-1719	23	14	.	.	PUNCT
cblr-1719	24	1	2:453	2:453	NUM
cblr-1719	24	2	]	]	X
cblr-1719	24	3	controlling	control	VERB
cblr-1719	24	4	-	-	PUNCT
cblr-1719	24	5	minority	minority	NOUN
cblr-1719	24	6	shareholders	shareholder	NOUN
cblr-1719	24	7	455	455	NUM
cblr-1719	24	8	b.	b.	PROPN
cblr-1719	24	9	  	  	SPACE
cblr-1719	24	10	regulatory	regulatory	ADJ
cblr-1719	24	11	framework	framework	NOUN
cblr-1719	24	12	........................................	........................................	PUNCT
cblr-1719	25	1	462	462	NUM
cblr-1719	25	2	  	  	SPACE
cblr-1719	25	3	1	1	NUM
cblr-1719	25	4	.	.	PUNCT
cblr-1719	25	5	  	  	SPACE
cblr-1719	25	6	no	no	DET
cblr-1719	25	7	consolidated	consolidated	ADJ
cblr-1719	25	8	view	view	NOUN
cblr-1719	25	9	at	at	ADP
cblr-1719	25	10	the	the	DET
cblr-1719	25	11	regional	regional	ADJ
cblr-1719	25	12	level	level	NOUN
cblr-1719	25	13	463	463	NUM
cblr-1719	25	14	  	  	SPACE
cblr-1719	25	15	2	2	NUM
cblr-1719	25	16	.	.	PUNCT
cblr-1719	25	17	  	  	SPACE
cblr-1719	25	18	divergent	divergent	ADJ
cblr-1719	25	19	regulatory	regulatory	ADJ
cblr-1719	25	20	policies	policy	NOUN
cblr-1719	25	21	towards	towards	ADP
cblr-1719	25	22	dual	dual	ADJ
cblr-1719	25	23	-	-	PUNCT
cblr-1719	25	24	class	class	NOUN
cblr-1719	25	25	shares	share	NOUN
cblr-1719	25	26	...........................................	...........................................	PUNCT
cblr-1719	25	27	465	465	NUM
cblr-1719	25	28	  	  	SPACE
cblr-1719	25	29	3	3	NUM
cblr-1719	25	30	.	.	PUNCT
cblr-1719	25	31	  	  	SPACE
cblr-1719	25	32	promoting	promote	VERB
cblr-1719	25	33	long	long	ADJ
cblr-1719	25	34	-	-	PUNCT
cblr-1719	25	35	term	term	NOUN
cblr-1719	25	36	investments	investment	NOUN
cblr-1719	25	37	through	through	ADP
cblr-1719	25	38	time	time	NOUN
cblr-1719	25	39	-	-	PUNCT
cblr-1719	25	40	phased	phase	VERB
cblr-1719	25	41	voting	voting	NOUN
cblr-1719	25	42	........................................	........................................	PUNCT
cblr-1719	25	43	469	469	NUM
cblr-1719	25	44	  	  	SPACE
cblr-1719	25	45	iii	iii	NOUN
cblr-1719	25	46	.	.	PUNCT
cblr-1719	25	47	  	  	SPACE
cblr-1719	25	48	theoretical	theoretical	ADJ
cblr-1719	25	49	debate	debate	NOUN
cblr-1719	25	50	and	and	CCONJ
cblr-1719	25	51	empirical	empirical	ADJ
cblr-1719	25	52	findings	finding	NOUN
cblr-1719	25	53	..............	..............	PUNCT
cblr-1719	25	54	471	471	NUM
cblr-1719	25	55	  	  	SPACE
cblr-1719	25	56	a.	a.	NOUN
cblr-1719	25	57	  	  	SPACE
cblr-1719	25	58	agency	agency	NOUN
cblr-1719	25	59	theory	theory	NOUN
cblr-1719	25	60	account	account	VERB
cblr-1719	25	61	........................................	........................................	PUNCT
cblr-1719	25	62	471	471	NUM
cblr-1719	25	63	  	  	SPACE
cblr-1719	25	64	b.	b.	PROPN
cblr-1719	25	65	  	  	SPACE
cblr-1719	25	66	freedom	freedom	NOUN
cblr-1719	25	67	of	of	ADP
cblr-1719	25	68	contract	contract	NOUN
cblr-1719	25	69	account	account	NOUN
cblr-1719	25	70	..............................	..............................	PUNCT
cblr-1719	25	71	473	473	NUM
cblr-1719	25	72	  	  	SPACE
cblr-1719	25	73	c.	c.	NOUN
cblr-1719	25	74	  	  	SPACE
cblr-1719	25	75	long	long	ADJ
cblr-1719	25	76	-	-	PUNCT
cblr-1719	25	77	term	term	NOUN
cblr-1719	25	78	value	value	NOUN
cblr-1719	25	79	account	account	NOUN
cblr-1719	25	80	...................................	...................................	PUNCT
cblr-1719	25	81	473	473	NUM
cblr-1719	25	82	  	  	SPACE
cblr-1719	25	83	d.	d.	NOUN
cblr-1719	25	84	  	  	SPACE
cblr-1719	25	85	empirical	empirical	ADJ
cblr-1719	25	86	findings	finding	NOUN
cblr-1719	25	87	...............................................	...............................................	PUNCT
cblr-1719	25	88	475	475	NUM
cblr-1719	25	89	  	  	SPACE
cblr-1719	25	90	iv	iv	NOUN
cblr-1719	25	91	.	.	PUNCT
cblr-1719	25	92	  	  	SPACE
cblr-1719	25	93	a	a	DET
cblr-1719	25	94	contractarian	contractarian	ADJ
cblr-1719	25	95	view	view	NOUN
cblr-1719	25	96	of	of	ADP
cblr-1719	25	97	the	the	DET
cblr-1719	25	98	current	current	ADJ
cblr-1719	25	99	regime	regime	NOUN
cblr-1719	25	100	...........	...........	PUNCT
cblr-1719	25	101	480	480	NUM
cblr-1719	25	102	  	  	SPACE
cblr-1719	25	103	a.	a.	NOUN
cblr-1719	25	104	  	  	SPACE
cblr-1719	25	105	is	be	AUX
cblr-1719	25	106	the	the	DET
cblr-1719	25	107	ipo	ipo	NOUN
cblr-1719	25	108	governance	governance	NOUN
cblr-1719	25	109	design	design	NOUN
cblr-1719	25	110	optimal	optimal	ADJ
cblr-1719	25	111	?	?	PUNCT
cblr-1719	25	112	............	............	PUNCT
cblr-1719	26	1	481	481	NUM
cblr-1719	26	2	  	  	SPACE
cblr-1719	26	3	b.	b.	NOUN
cblr-1719	26	4	  	  	SPACE
cblr-1719	26	5	pro	pro	ADJ
cblr-1719	26	6	-	-	ADJ
cblr-1719	26	7	insider	insider	ADJ
cblr-1719	26	8	distortions	distortion	NOUN
cblr-1719	26	9	in	in	ADP
cblr-1719	26	10	the	the	DET
cblr-1719	26	11	midstream	midstream	NOUN
cblr-1719	26	12	stage	stage	NOUN
cblr-1719	26	13	.....................................................................	.....................................................................	PUNCT
cblr-1719	26	14	485	485	NUM
cblr-1719	26	15	  	  	SPACE
cblr-1719	26	16	1	1	NUM
cblr-1719	26	17	.	.	PUNCT
cblr-1719	26	18	  	  	SPACE
cblr-1719	26	19	supermajority	supermajority	NOUN
cblr-1719	26	20	provision	provision	NOUN
cblr-1719	26	21	deters	deter	NOUN
cblr-1719	26	22	valueincreasing	valueincrease	VERB
cblr-1719	26	23	midstream	midstream	NOUN
cblr-1719	26	24	changes	change	NOUN
cblr-1719	26	25	.....................	.....................	PUNCT
cblr-1719	26	26	487	487	NUM
cblr-1719	26	27	  	  	SPACE
cblr-1719	26	28	2	2	NUM
cblr-1719	26	29	.	.	PUNCT
cblr-1719	26	30	  	  	SPACE
cblr-1719	26	31	potential	potential	ADJ
cblr-1719	26	32	expropriation	expropriation	NOUN
cblr-1719	26	33	in	in	ADP
cblr-1719	26	34	midstream	midstream	NOUN
cblr-1719	26	35	changes	change	NOUN
cblr-1719	26	36	...........................................................	...........................................................	PUNCT
cblr-1719	27	1	491	491	NUM
cblr-1719	27	2	  	  	SPACE
cblr-1719	27	3	v.	v.	ADP
cblr-1719	27	4	  	  	SPACE
cblr-1719	27	5	governing	govern	VERB
cblr-1719	27	6	midstream	midstream	NOUN
cblr-1719	27	7	pro	pro	ADJ
cblr-1719	27	8	-	-	ADJ
cblr-1719	27	9	insider	insider	ADJ
cblr-1719	27	10	distortions	distortion	NOUN
cblr-1719	27	11	...........	...........	PUNCT
cblr-1719	27	12	501	501	NUM
cblr-1719	27	13	  	  	SPACE
cblr-1719	27	14	a.	a.	NOUN
cblr-1719	27	15	  	  	SPACE
cblr-1719	27	16	prohibiting	prohibit	VERB
cblr-1719	27	17	leveraged	leveraged	ADJ
cblr-1719	27	18	corporate	corporate	ADJ
cblr-1719	27	19	control	control	NOUN
cblr-1719	27	20	?	?	PUNCT
cblr-1719	28	1	.........	.........	PUNCT
cblr-1719	29	1	501	501	NUM
cblr-1719	29	2	  	  	SPACE
cblr-1719	29	3	b.	b.	NOUN
cblr-1719	29	4	  	  	SPACE
cblr-1719	29	5	empowering	empower	VERB
cblr-1719	29	6	minority	minority	NOUN
cblr-1719	29	7	shareholders	shareholder	NOUN
cblr-1719	29	8	...................	...................	PUNCT
cblr-1719	29	9	504	504	NUM
cblr-1719	29	10	  	  	SPACE
cblr-1719	29	11	1	1	NUM
cblr-1719	29	12	.	.	PUNCT
cblr-1719	29	13	  	  	SPACE
cblr-1719	29	14	increasing	increase	VERB
cblr-1719	29	15	shareholder	shareholder	NOUN
cblr-1719	29	16	participation	participation	NOUN
cblr-1719	29	17	............	............	PUNCT
cblr-1719	30	1	505	505	NUM
cblr-1719	30	2	  	  	SPACE
cblr-1719	30	3	2	2	NUM
cblr-1719	30	4	.	.	PUNCT
cblr-1719	30	5	  	  	SPACE
cblr-1719	30	6	the	the	DET
cblr-1719	30	7	role	role	NOUN
cblr-1719	30	8	of	of	ADP
cblr-1719	30	9	institutional	institutional	ADJ
cblr-1719	30	10	shareholders	shareholder	NOUN
cblr-1719	30	11	and	and	CCONJ
cblr-1719	30	12	shareholder	shareholder	NOUN
cblr-1719	30	13	activism	activism	NOUN
cblr-1719	30	14	.....................................	.....................................	PUNCT
cblr-1719	30	15	507	507	NUM
cblr-1719	30	16	  	  	SPACE
cblr-1719	30	17	vi	vi	PROPN
cblr-1719	30	18	.	.	PUNCT
cblr-1719	30	19	  	  	SPACE
cblr-1719	30	20	conclusions	conclusion	NOUN
cblr-1719	30	21	..................................................................	..................................................................	PUNCT
cblr-1719	31	1	510	510	NUM
cblr-1719	31	2	  	  	SPACE
cblr-1719	31	3	lin	lin	PROPN
cblr-1719	31	4	–	–	PUNCT
cblr-1719	31	5	final	final	ADJ
cblr-1719	31	6	456	456	NUM
cblr-1719	31	7	columbia	columbia	PROPN
cblr-1719	31	8	business	business	NOUN
cblr-1719	31	9	law	law	PROPN
cblr-1719	31	10	review	review	NOUN
cblr-1719	31	11	[	[	X
cblr-1719	31	12	vol	vol	NOUN
cblr-1719	31	13	.	.	NOUN
cblr-1719	31	14	2017	2017	NUM
cblr-1719	31	15	“	"	PUNCT
cblr-1719	31	16	in	in	ADP
cblr-1719	31	17	the	the	DET
cblr-1719	31	18	transition	transition	NOUN
cblr-1719	31	19	to	to	ADP
cblr-1719	31	20	public	public	ADJ
cblr-1719	31	21	ownership	ownership	NOUN
cblr-1719	31	22	,	,	PUNCT
cblr-1719	31	23	we	we	PRON
cblr-1719	31	24	have	have	AUX
cblr-1719	31	25	set	set	VERB
cblr-1719	31	26	up	up	ADP
cblr-1719	31	27	a	a	DET
cblr-1719	31	28	corporate	corporate	ADJ
cblr-1719	31	29	structure	structure	NOUN
cblr-1719	31	30	that	that	PRON
cblr-1719	31	31	will	will	AUX
cblr-1719	31	32	make	make	VERB
cblr-1719	31	33	it	it	PRON
cblr-1719	31	34	harder	hard	ADJ
cblr-1719	31	35	for	for	SCONJ
cblr-1719	31	36	outside	outside	ADJ
cblr-1719	31	37	parties	party	NOUN
cblr-1719	31	38	to	to	PART
cblr-1719	31	39	take	take	VERB
cblr-1719	31	40	over	over	ADP
cblr-1719	31	41	or	or	CCONJ
cblr-1719	31	42	influence	influence	NOUN
cblr-1719	31	43	google	google	NOUN
cblr-1719	31	44	.	.	PUNCT
cblr-1719	32	1	this	this	DET
cblr-1719	32	2	structure	structure	NOUN
cblr-1719	32	3	will	will	AUX
cblr-1719	32	4	also	also	ADV
cblr-1719	32	5	make	make	VERB
cblr-1719	32	6	it	it	PRON
cblr-1719	32	7	easier	easy	ADJ
cblr-1719	32	8	for	for	SCONJ
cblr-1719	32	9	our	our	PRON
cblr-1719	32	10	management	management	NOUN
cblr-1719	32	11	team	team	NOUN
cblr-1719	32	12	to	to	PART
cblr-1719	32	13	follow	follow	VERB
cblr-1719	32	14	the	the	DET
cblr-1719	32	15	long	long	ADJ
cblr-1719	32	16	term	term	NOUN
cblr-1719	32	17	,	,	PUNCT
cblr-1719	32	18	innovative	innovative	ADJ
cblr-1719	32	19	approach	approach	NOUN
cblr-1719	32	20	emphasized	emphasize	VERB
cblr-1719	32	21	earlier	early	ADV
cblr-1719	32	22	.	.	PUNCT
cblr-1719	32	23	”	"	PUNCT
cblr-1719	33	1	―	―	INTJ
cblr-1719	33	2	larry	larry	PROPN
cblr-1719	33	3	page	page	NOUN
cblr-1719	33	4	and	and	CCONJ
cblr-1719	33	5	sergey	sergey	PROPN
cblr-1719	33	6	brin	brin	PROPN
cblr-1719	33	7	,	,	PUNCT
cblr-1719	33	8	founders	founder	NOUN
cblr-1719	33	9	of	of	ADP
cblr-1719	33	10	google	google	PROPN
cblr-1719	33	11	(	(	PUNCT
cblr-1719	33	12	2004)1	2004)1	NUM
cblr-1719	33	13	i.	i.	NOUN
cblr-1719	33	14	introduction	introduction	NOUN
cblr-1719	33	15	one	one	NUM
cblr-1719	33	16	-	-	PUNCT
cblr-1719	33	17	share	share	NOUN
cblr-1719	33	18	one	one	NUM
cblr-1719	33	19	-	-	PUNCT
cblr-1719	33	20	vote	vote	NOUN
cblr-1719	33	21	is	be	AUX
cblr-1719	33	22	the	the	DET
cblr-1719	33	23	key	key	ADJ
cblr-1719	33	24	principle	principle	NOUN
cblr-1719	33	25	behind	behind	ADP
cblr-1719	33	26	the	the	DET
cblr-1719	33	27	allocation	allocation	NOUN
cblr-1719	33	28	of	of	ADP
cblr-1719	33	29	corporate	corporate	ADJ
cblr-1719	33	30	ownership	ownership	NOUN
cblr-1719	33	31	and	and	CCONJ
cblr-1719	33	32	control.2	control.2	PROPN
cblr-1719	33	33	in	in	ADP
cblr-1719	33	34	keeping	keep	VERB
cblr-1719	33	35	with	with	ADP
cblr-1719	33	36	this	this	DET
cblr-1719	33	37	principle	principle	NOUN
cblr-1719	33	38	,	,	PUNCT
cblr-1719	33	39	shareholders	shareholder	NOUN
cblr-1719	33	40	who	who	PRON
cblr-1719	33	41	contribute	contribute	VERB
cblr-1719	33	42	more	more	ADJ
cblr-1719	33	43	equity	equity	NOUN
cblr-1719	33	44	to	to	ADP
cblr-1719	33	45	a	a	DET
cblr-1719	33	46	firm	firm	NOUN
cblr-1719	33	47	exert	exert	VERB
cblr-1719	33	48	more	more	ADJ
cblr-1719	33	49	control	control	NOUN
cblr-1719	33	50	through	through	ADP
cblr-1719	33	51	their	their	PRON
cblr-1719	33	52	voting	voting	NOUN
cblr-1719	33	53	power	power	NOUN
cblr-1719	33	54	.	.	PUNCT
cblr-1719	34	1	with	with	ADP
cblr-1719	34	2	proportionate	proportionate	ADJ
cblr-1719	34	3	equity	equity	NOUN
cblr-1719	34	4	ownership	ownership	NOUN
cblr-1719	34	5	and	and	CCONJ
cblr-1719	34	6	control	control	NOUN
cblr-1719	34	7	,	,	PUNCT
cblr-1719	34	8	this	this	DET
cblr-1719	34	9	governance	governance	NOUN
cblr-1719	34	10	structure	structure	NOUN
cblr-1719	34	11	should	should	AUX
cblr-1719	34	12	provide	provide	VERB
cblr-1719	34	13	shareholders	shareholder	NOUN
cblr-1719	34	14	with	with	ADP
cblr-1719	34	15	the	the	DET
cblr-1719	34	16	proper	proper	ADJ
cblr-1719	34	17	incentive	incentive	NOUN
cblr-1719	34	18	to	to	PART
cblr-1719	34	19	make	make	VERB
cblr-1719	34	20	appropriate	appropriate	ADJ
cblr-1719	34	21	decisions	decision	NOUN
cblr-1719	34	22	and	and	CCONJ
cblr-1719	34	23	properly	properly	ADV
cblr-1719	34	24	monitor	monitor	VERB
cblr-1719	34	25	the	the	DET
cblr-1719	34	26	firm	firm	NOUN
cblr-1719	34	27	through	through	ADP
cblr-1719	34	28	voting.3	voting.3	PROPN
cblr-1719	34	29	in	in	ADP
cblr-1719	34	30	reality	reality	NOUN
cblr-1719	34	31	,	,	PUNCT
cblr-1719	34	32	a	a	DET
cblr-1719	34	33	large	large	ADJ
cblr-1719	34	34	number	number	NOUN
cblr-1719	34	35	of	of	ADP
cblr-1719	34	36	public	public	ADJ
cblr-1719	34	37	firms	firm	NOUN
cblr-1719	34	38	around	around	ADP
cblr-1719	34	39	the	the	DET
cblr-1719	34	40	world	world	NOUN
cblr-1719	34	41	do	do	AUX
cblr-1719	34	42	not	not	PART
cblr-1719	34	43	adhere	adhere	VERB
cblr-1719	34	44	to	to	ADP
cblr-1719	34	45	the	the	DET
cblr-1719	34	46	oneshare	oneshare	NOUN
cblr-1719	34	47	one	one	NUM
cblr-1719	34	48	-	-	PUNCT
cblr-1719	34	49	vote	vote	NOUN
cblr-1719	34	50	rule	rule	NOUN
cblr-1719	34	51	.	.	PUNCT
cblr-1719	35	1	instead	instead	ADV
cblr-1719	35	2	,	,	PUNCT
cblr-1719	35	3	controllers	controller	NOUN
cblr-1719	35	4	usually	usually	ADV
cblr-1719	35	5	leverage	leverage	VERB
cblr-1719	35	6	their	their	PRON
cblr-1719	35	7	control	control	NOUN
cblr-1719	35	8	through	through	ADP
cblr-1719	35	9	various	various	ADJ
cblr-1719	35	10	control	control	NOUN
cblr-1719	35	11	-	-	PUNCT
cblr-1719	35	12	enhancing	enhance	VERB
cblr-1719	35	13	mechanisms	mechanism	NOUN
cblr-1719	35	14	,	,	PUNCT
cblr-1719	35	15	such	such	ADJ
cblr-1719	35	16	as	as	ADP
cblr-1719	35	17	dual	dual	ADJ
cblr-1719	35	18	-	-	PUNCT
cblr-1719	35	19	class	class	NOUN
cblr-1719	35	20	shares	share	NOUN
cblr-1719	35	21	,	,	PUNCT
cblr-1719	35	22	pyramidal	pyramidal	ADJ
cblr-1719	35	23	ownership	ownership	NOUN
cblr-1719	35	24	,	,	PUNCT
cblr-1719	35	25	or	or	CCONJ
cblr-1719	35	26	crossshareholding	crossshareholde	VERB
cblr-1719	35	27	.	.	PUNCT
cblr-1719	36	1	these	these	DET
cblr-1719	36	2	structures	structure	NOUN
cblr-1719	36	3	are	be	AUX
cblr-1719	36	4	coined	coin	VERB
cblr-1719	36	5	as	as	ADP
cblr-1719	36	6	“	"	PUNCT
cblr-1719	36	7	controllingminority	controllingminority	NOUN
cblr-1719	36	8	structures	structure	NOUN
cblr-1719	36	9	”	"	PUNCT
cblr-1719	36	10	to	to	PART
cblr-1719	36	11	reflect	reflect	VERB
cblr-1719	36	12	the	the	DET
cblr-1719	36	13	fact	fact	NOUN
cblr-1719	36	14	that	that	SCONJ
cblr-1719	36	15	even	even	ADV
cblr-1719	36	16	though	though	SCONJ
cblr-1719	36	17	controlling	control	VERB
cblr-1719	36	18	shareholders	shareholder	NOUN
cblr-1719	36	19	own	own	VERB
cblr-1719	36	20	a	a	DET
cblr-1719	36	21	minority	minority	NOUN
cblr-1719	36	22	of	of	ADP
cblr-1719	36	23	the	the	DET
cblr-1719	36	24	shares	share	NOUN
cblr-1719	36	25	,	,	PUNCT
cblr-1719	36	26	they	they	PRON
cblr-1719	36	27	are	be	AUX
cblr-1719	36	28	able	able	ADJ
cblr-1719	36	29	to	to	PART
cblr-1719	36	30	maintain	maintain	VERB
cblr-1719	36	31	control	control	NOUN
cblr-1719	36	32	through	through	ADP
cblr-1719	36	33	the	the	DET
cblr-1719	36	34	use	use	NOUN
cblr-1719	36	35	of	of	ADP
cblr-1719	36	36	controlenhancing	controlenhance	VERB
cblr-1719	36	37	mechanisms.4	mechanisms.4	PROPN
cblr-1719	36	38	this	this	DET
cblr-1719	36	39	article	article	NOUN
cblr-1719	36	40	also	also	ADV
cblr-1719	36	41	uses	use	VERB
cblr-1719	36	42	“	"	PUNCT
cblr-1719	36	43	leveraged	leveraged	ADJ
cblr-1719	36	44	control	control	NOUN
cblr-1719	36	45	”	"	PUNCT
cblr-1719	36	46	to	to	PART
cblr-1719	36	47	refer	refer	VERB
cblr-1719	36	48	to	to	ADP
cblr-1719	36	49	this	this	DET
cblr-1719	36	50	type	type	NOUN
cblr-1719	36	51	of	of	ADP
cblr-1719	36	52	corporate	corporate	ADJ
cblr-1719	36	53	control.5	control.5	NOUN
cblr-1719	36	54	proponents	proponent	NOUN
cblr-1719	36	55	1	1	NUM
cblr-1719	36	56	google	google	PROPN
cblr-1719	36	57	inc	inc	PROPN
cblr-1719	36	58	.	.	PROPN
cblr-1719	36	59	,	,	PUNCT
cblr-1719	36	60	final	final	ADJ
cblr-1719	36	61	prospectus	prospectus	NOUN
cblr-1719	36	62	(	(	PUNCT
cblr-1719	36	63	form	form	NOUN
cblr-1719	36	64	424b4	424b4	NUM
cblr-1719	36	65	)	)	PUNCT
cblr-1719	36	66	,	,	PUNCT
cblr-1719	36	67	at	at	ADP
cblr-1719	36	68	29	29	NUM
cblr-1719	36	69	(	(	PUNCT
cblr-1719	36	70	aug	aug	PROPN
cblr-1719	36	71	.	.	PROPN
cblr-1719	36	72	18	18	NUM
cblr-1719	36	73	,	,	PUNCT
cblr-1719	36	74	2004	2004	NUM
cblr-1719	36	75	)	)	PUNCT
cblr-1719	36	76	,	,	PUNCT
cblr-1719	36	77	https://www.sec.gov/archives/edgar/data/1288776/000119312504143377/d4	https://www.sec.gov/archives/edgar/data/1288776/000119312504143377/d4	PROPN
cblr-1719	36	78	24b4.htm	24b4.htm	NUM
cblr-1719	36	79	.	.	NOUN
cblr-1719	36	80	2	2	NUM
cblr-1719	36	81	see	see	VERB
cblr-1719	36	82	frank	frank	PROPN
cblr-1719	36	83	h.	h.	PROPN
cblr-1719	36	84	easterbrook	easterbrook	PROPN
cblr-1719	36	85	&	&	CCONJ
cblr-1719	36	86	daniel	daniel	PROPN
cblr-1719	36	87	r.	r.	PROPN
cblr-1719	36	88	fischel	fischel	PROPN
cblr-1719	36	89	,	,	PUNCT
cblr-1719	36	90	the	the	DET
cblr-1719	36	91	economic	economic	ADJ
cblr-1719	36	92	structure	structure	NOUN
cblr-1719	36	93	of	of	ADP
cblr-1719	36	94	corporate	corporate	ADJ
cblr-1719	36	95	law	law	NOUN
cblr-1719	36	96	67–70	67–70	NUM
cblr-1719	36	97	(	(	PUNCT
cblr-1719	36	98	1991	1991	NUM
cblr-1719	36	99	)	)	PUNCT
cblr-1719	36	100	.	.	PUNCT
cblr-1719	37	1	3	3	NUM
cblr-1719	38	1	i	i	PRON
cblr-1719	38	2	d.	d.	PROPN
cblr-1719	38	3	4	4	NUM
cblr-1719	38	4	lucian	lucian	PROPN
cblr-1719	38	5	a.	a.	NOUN
cblr-1719	38	6	bebchuk	bebchuk	PROPN
cblr-1719	38	7	et	et	PROPN
cblr-1719	38	8	al	al	PROPN
cblr-1719	38	9	.	.	PROPN
cblr-1719	38	10	,	,	PUNCT
cblr-1719	38	11	stock	stock	NOUN
cblr-1719	38	12	pyramids	pyramid	NOUN
cblr-1719	38	13	,	,	PUNCT
cblr-1719	38	14	cross	cross	NOUN
cblr-1719	38	15	-	-	NOUN
cblr-1719	38	16	ownership	ownership	NOUN
cblr-1719	38	17	,	,	PUNCT
cblr-1719	38	18	and	and	CCONJ
cblr-1719	38	19	dual	dual	ADJ
cblr-1719	38	20	class	class	NOUN
cblr-1719	38	21	equity	equity	NOUN
cblr-1719	38	22	:	:	PUNCT
cblr-1719	38	23	the	the	DET
cblr-1719	38	24	mechanisms	mechanism	NOUN
cblr-1719	38	25	and	and	CCONJ
cblr-1719	38	26	agency	agency	NOUN
cblr-1719	38	27	costs	cost	NOUN
cblr-1719	38	28	of	of	ADP
cblr-1719	38	29	separating	separate	VERB
cblr-1719	38	30	control	control	NOUN
cblr-1719	38	31	from	from	ADP
cblr-1719	38	32	cash	cash	NOUN
cblr-1719	38	33	-	-	PUNCT
cblr-1719	38	34	flow	flow	NOUN
cblr-1719	38	35	rights	right	NOUN
cblr-1719	38	36	,	,	PUNCT
cblr-1719	38	37	in	in	ADP
cblr-1719	38	38	concentrated	concentrated	ADJ
cblr-1719	38	39	corporate	corporate	ADJ
cblr-1719	38	40	ownership	ownership	NOUN
cblr-1719	38	41	295	295	NUM
cblr-1719	38	42	,	,	PUNCT
cblr-1719	38	43	295	295	NUM
cblr-1719	38	44	(	(	PUNCT
cblr-1719	38	45	randall	randall	PROPN
cblr-1719	38	46	k.	k.	PROPN
cblr-1719	38	47	morck	morck	PROPN
cblr-1719	38	48	ed	ed	PROPN
cblr-1719	38	49	.	.	PROPN
cblr-1719	38	50	,	,	PUNCT
cblr-1719	38	51	2000	2000	NUM
cblr-1719	38	52	)	)	PUNCT
cblr-1719	38	53	.	.	PUNCT
cblr-1719	39	1	5	5	NUM
cblr-1719	39	2	professor	professor	PROPN
cblr-1719	39	3	ronald	ronald	PROPN
cblr-1719	39	4	gilson	gilson	PROPN
cblr-1719	39	5	specifically	specifically	ADV
cblr-1719	39	6	uses	use	VERB
cblr-1719	39	7	the	the	DET
cblr-1719	39	8	term	term	NOUN
cblr-1719	39	9	“	"	PUNCT
cblr-1719	39	10	leveraged	leveraged	ADJ
cblr-1719	39	11	control	control	NOUN
cblr-1719	39	12	”	"	PUNCT
cblr-1719	39	13	to	to	PART
cblr-1719	39	14	refer	refer	VERB
cblr-1719	39	15	to	to	ADP
cblr-1719	39	16	such	such	ADJ
cblr-1719	39	17	type	type	NOUN
cblr-1719	39	18	of	of	ADP
cblr-1719	39	19	corporate	corporate	ADJ
cblr-1719	39	20	control	control	NOUN
cblr-1719	39	21	.	.	PUNCT
cblr-1719	40	1	ronald	ronald	PROPN
cblr-1719	40	2	j.	j.	PROPN
cblr-1719	40	3	gilson	gilson	PROPN
cblr-1719	40	4	,	,	PUNCT
cblr-1719	40	5	the	the	DET
cblr-1719	40	6	lin	lin	PROPN
cblr-1719	40	7	–	–	PUNCT
cblr-1719	40	8	final	final	ADJ
cblr-1719	40	9	no	no	NOUN
cblr-1719	40	10	.	.	PUNCT
cblr-1719	41	1	2:453	2:453	NUM
cblr-1719	41	2	]	]	X
cblr-1719	41	3	controlling	control	VERB
cblr-1719	41	4	-	-	PUNCT
cblr-1719	41	5	minority	minority	NOUN
cblr-1719	41	6	shareholders	shareholder	NOUN
cblr-1719	41	7	457	457	NUM
cblr-1719	41	8	of	of	ADP
cblr-1719	41	9	leveraged	leveraged	ADJ
cblr-1719	41	10	control	control	NOUN
cblr-1719	41	11	argue	argue	VERB
cblr-1719	41	12	that	that	SCONJ
cblr-1719	41	13	the	the	DET
cblr-1719	41	14	deviation	deviation	NOUN
cblr-1719	41	15	from	from	ADP
cblr-1719	41	16	one	one	NUM
cblr-1719	41	17	-	-	PUNCT
cblr-1719	41	18	share	share	NOUN
cblr-1719	41	19	one	one	NUM
cblr-1719	41	20	-	-	PUNCT
cblr-1719	41	21	vote	vote	NOUN
cblr-1719	41	22	should	should	AUX
cblr-1719	41	23	be	be	AUX
cblr-1719	41	24	allowed	allow	VERB
cblr-1719	41	25	because	because	SCONJ
cblr-1719	41	26	shareholders	shareholder	NOUN
cblr-1719	41	27	have	have	VERB
cblr-1719	41	28	the	the	DET
cblr-1719	41	29	freedom	freedom	NOUN
cblr-1719	41	30	to	to	PART
cblr-1719	41	31	contract	contract	VERB
cblr-1719	41	32	with	with	ADP
cblr-1719	41	33	respect	respect	NOUN
cblr-1719	41	34	to	to	ADP
cblr-1719	41	35	the	the	DET
cblr-1719	41	36	allocation	allocation	NOUN
cblr-1719	41	37	of	of	ADP
cblr-1719	41	38	corporate	corporate	ADJ
cblr-1719	41	39	control	control	NOUN
cblr-1719	41	40	.	.	PUNCT
cblr-1719	42	1	however	however	ADV
cblr-1719	42	2	,	,	PUNCT
cblr-1719	42	3	such	such	ADJ
cblr-1719	42	4	deviation	deviation	NOUN
cblr-1719	42	5	from	from	ADP
cblr-1719	42	6	the	the	DET
cblr-1719	42	7	one	one	NUM
cblr-1719	42	8	-	-	PUNCT
cblr-1719	42	9	share	share	NOUN
cblr-1719	42	10	one	one	NUM
cblr-1719	42	11	-	-	PUNCT
cblr-1719	42	12	vote	vote	NOUN
cblr-1719	42	13	rule	rule	NOUN
cblr-1719	42	14	may	may	AUX
cblr-1719	42	15	exacerbate	exacerbate	VERB
cblr-1719	42	16	the	the	DET
cblr-1719	42	17	principal	principal	ADJ
cblr-1719	42	18	-	-	PUNCT
cblr-1719	42	19	agent	agent	NOUN
cblr-1719	42	20	problem	problem	NOUN
cblr-1719	42	21	in	in	ADP
cblr-1719	42	22	a	a	DET
cblr-1719	42	23	controlled	control	VERB
cblr-1719	42	24	firm	firm	NOUN
cblr-1719	42	25	because	because	SCONJ
cblr-1719	42	26	a	a	DET
cblr-1719	42	27	controlling	control	VERB
cblr-1719	42	28	-	-	PUNCT
cblr-1719	42	29	minority	minority	NOUN
cblr-1719	42	30	shareholder	shareholder	NOUN
cblr-1719	42	31	is	be	AUX
cblr-1719	42	32	not	not	PART
cblr-1719	42	33	only	only	ADV
cblr-1719	42	34	entrenched	entrench	VERB
cblr-1719	42	35	,	,	PUNCT
cblr-1719	42	36	but	but	CCONJ
cblr-1719	42	37	also	also	ADV
cblr-1719	42	38	has	have	VERB
cblr-1719	42	39	the	the	DET
cblr-1719	42	40	incentive	incentive	NOUN
cblr-1719	42	41	to	to	PART
cblr-1719	42	42	extract	extract	VERB
cblr-1719	42	43	private	private	ADJ
cblr-1719	42	44	benefits	benefit	NOUN
cblr-1719	42	45	of	of	ADP
cblr-1719	42	46	control	control	NOUN
cblr-1719	42	47	because	because	SCONJ
cblr-1719	42	48	the	the	DET
cblr-1719	42	49	controlling	control	VERB
cblr-1719	42	50	-	-	PUNCT
cblr-1719	42	51	minority	minority	NOUN
cblr-1719	42	52	shareholder	shareholder	NOUN
cblr-1719	42	53	owns	own	VERB
cblr-1719	42	54	disproportionally	disproportionally	ADV
cblr-1719	42	55	less	less	ADJ
cblr-1719	42	56	equity.6	equity.6	PROPN
cblr-1719	42	57	on	on	ADP
cblr-1719	42	58	the	the	DET
cblr-1719	42	59	other	other	ADJ
cblr-1719	42	60	hand	hand	NOUN
cblr-1719	42	61	,	,	PUNCT
cblr-1719	42	62	a	a	DET
cblr-1719	42	63	leveraged	leverage	VERB
cblr-1719	42	64	control	control	NOUN
cblr-1719	42	65	firm	firm	NOUN
cblr-1719	42	66	still	still	ADV
cblr-1719	42	67	enjoys	enjoy	VERB
cblr-1719	42	68	the	the	DET
cblr-1719	42	69	benefits	benefit	NOUN
cblr-1719	42	70	of	of	ADP
cblr-1719	42	71	efficient	efficient	ADJ
cblr-1719	42	72	monitoring	monitoring	NOUN
cblr-1719	42	73	by	by	ADP
cblr-1719	42	74	the	the	DET
cblr-1719	42	75	controlling	control	VERB
cblr-1719	42	76	shareholder	shareholder	NOUN
cblr-1719	42	77	.	.	PUNCT
cblr-1719	43	1	therefore	therefore	ADV
cblr-1719	43	2	,	,	PUNCT
cblr-1719	43	3	it	it	PRON
cblr-1719	43	4	is	be	AUX
cblr-1719	43	5	unclear	unclear	ADJ
cblr-1719	43	6	whether	whether	SCONJ
cblr-1719	43	7	a	a	DET
cblr-1719	43	8	leveraged	leverage	VERB
cblr-1719	43	9	control	control	NOUN
cblr-1719	43	10	structure	structure	NOUN
cblr-1719	43	11	generates	generate	VERB
cblr-1719	43	12	net	net	ADJ
cblr-1719	43	13	benefits	benefit	NOUN
cblr-1719	43	14	or	or	CCONJ
cblr-1719	43	15	net	net	ADJ
cblr-1719	43	16	costs	cost	NOUN
cblr-1719	43	17	to	to	ADP
cblr-1719	43	18	shareholders	shareholder	NOUN
cblr-1719	43	19	.	.	PUNCT
cblr-1719	44	1	despite	despite	SCONJ
cblr-1719	44	2	the	the	DET
cblr-1719	44	3	theoretical	theoretical	ADJ
cblr-1719	44	4	controversies	controversy	NOUN
cblr-1719	44	5	,	,	PUNCT
cblr-1719	44	6	firms	firm	NOUN
cblr-1719	44	7	with	with	ADP
cblr-1719	44	8	controlling	control	VERB
cblr-1719	44	9	-	-	PUNCT
cblr-1719	44	10	minority	minority	NOUN
cblr-1719	44	11	structures	structure	NOUN
cblr-1719	44	12	are	be	AUX
cblr-1719	44	13	widespread	widespread	ADJ
cblr-1719	44	14	:	:	PUNCT
cblr-1719	44	15	44	44	NUM
cblr-1719	44	16	%	%	NOUN
cblr-1719	44	17	of	of	ADP
cblr-1719	44	18	european	european	ADJ
cblr-1719	44	19	public	public	ADJ
cblr-1719	44	20	companies	company	NOUN
cblr-1719	44	21	have	have	VERB
cblr-1719	44	22	at	at	ADV
cblr-1719	44	23	least	least	ADV
cblr-1719	44	24	one	one	NUM
cblr-1719	44	25	type	type	NOUN
cblr-1719	44	26	of	of	ADP
cblr-1719	44	27	controlenhancing	controlenhancing	ADJ
cblr-1719	44	28	mechanism	mechanism	NOUN
cblr-1719	44	29	,	,	PUNCT
cblr-1719	44	30	while	while	SCONJ
cblr-1719	44	31	38.7	38.7	NUM
cblr-1719	44	32	%	%	NOUN
cblr-1719	44	33	of	of	ADP
cblr-1719	44	34	east	east	ADJ
cblr-1719	44	35	asian	asian	ADJ
cblr-1719	44	36	public	public	ADJ
cblr-1719	44	37	companies	company	NOUN
cblr-1719	44	38	use	use	VERB
cblr-1719	44	39	a	a	DET
cblr-1719	44	40	pyramidal	pyramidal	ADJ
cblr-1719	44	41	ownership	ownership	NOUN
cblr-1719	44	42	structure	structure	NOUN
cblr-1719	44	43	to	to	PART
cblr-1719	44	44	enhance	enhance	VERB
cblr-1719	44	45	corporate	corporate	ADJ
cblr-1719	44	46	control.7	control.7	NOUN
cblr-1719	44	47	even	even	ADV
cblr-1719	44	48	in	in	ADP
cblr-1719	44	49	the	the	DET
cblr-1719	44	50	u.s	u.s	PROPN
cblr-1719	44	51	.	.	PROPN
cblr-1719	44	52	,	,	PUNCT
cblr-1719	44	53	where	where	SCONJ
cblr-1719	44	54	the	the	DET
cblr-1719	44	55	percentage	percentage	NOUN
cblr-1719	44	56	of	of	ADP
cblr-1719	44	57	leveraged	leveraged	ADJ
cblr-1719	44	58	control	control	NOUN
cblr-1719	44	59	firms	firm	NOUN
cblr-1719	44	60	has	have	AUX
cblr-1719	44	61	traditionally	traditionally	ADV
cblr-1719	44	62	been	be	AUX
cblr-1719	44	63	low	low	ADJ
cblr-1719	44	64	,	,	PUNCT
cblr-1719	44	65	there	there	PRON
cblr-1719	44	66	is	be	VERB
cblr-1719	44	67	a	a	DET
cblr-1719	44	68	growing	grow	VERB
cblr-1719	44	69	number	number	NOUN
cblr-1719	44	70	of	of	ADP
cblr-1719	44	71	newly	newly	ADV
cblr-1719	44	72	-	-	PUNCT
cblr-1719	44	73	listed	list	VERB
cblr-1719	44	74	firms	firm	NOUN
cblr-1719	44	75	adopting	adopt	VERB
cblr-1719	44	76	dual	dual	ADJ
cblr-1719	44	77	-	-	PUNCT
cblr-1719	44	78	class	class	NOUN
cblr-1719	44	79	shares	share	NOUN
cblr-1719	44	80	:	:	PUNCT
cblr-1719	44	81	8	8	NUM
cblr-1719	44	82	28	28	NUM
cblr-1719	44	83	%	%	NOUN
cblr-1719	44	84	of	of	ADP
cblr-1719	44	85	firms	firm	NOUN
cblr-1719	44	86	that	that	PRON
cblr-1719	44	87	underwent	undergo	VERB
cblr-1719	44	88	an	an	DET
cblr-1719	44	89	initial	initial	ADJ
cblr-1719	44	90	public	public	ADJ
cblr-1719	44	91	offering	offering	NOUN
cblr-1719	44	92	(	(	PUNCT
cblr-1719	44	93	“	"	PUNCT
cblr-1719	44	94	ipo	ipo	NOUN
cblr-1719	44	95	”	"	PUNCT
cblr-1719	44	96	)	)	PUNCT
cblr-1719	44	97	between	between	ADP
cblr-1719	44	98	2011	2011	NUM
cblr-1719	44	99	and	and	CCONJ
cblr-1719	44	100	2013	2013	NUM
cblr-1719	44	101	in	in	ADP
cblr-1719	44	102	the	the	DET
cblr-1719	44	103	u.s	u.s	PROPN
cblr-1719	44	104	.	.	PROPN
cblr-1719	44	105	have	have	VERB
cblr-1719	44	106	a	a	DET
cblr-1719	44	107	dual	dual	ADJ
cblr-1719	44	108	-	-	PUNCT
cblr-1719	44	109	class	class	NOUN
cblr-1719	44	110	share	share	NOUN
cblr-1719	44	111	structure.9	structure.9	NOUN
cblr-1719	44	112	google	google	PROPN
cblr-1719	44	113	,	,	PUNCT
cblr-1719	44	114	facebook	facebook	NOUN
cblr-1719	44	115	,	,	PUNCT
cblr-1719	44	116	groupon	groupon	NOUN
cblr-1719	44	117	,	,	PUNCT
cblr-1719	44	118	linkedin	linkedin	NOUN
cblr-1719	44	119	,	,	PUNCT
cblr-1719	44	120	zynga	zynga	NOUN
cblr-1719	44	121	,	,	PUNCT
cblr-1719	44	122	and	and	CCONJ
cblr-1719	44	123	alibaba	alibaba	PROPN
cblr-1719	44	124	are	be	AUX
cblr-1719	44	125	well	well	ADV
cblr-1719	44	126	-	-	PUNCT
cblr-1719	44	127	known	know	VERB
cblr-1719	44	128	examples	example	NOUN
cblr-1719	44	129	of	of	ADP
cblr-1719	44	130	leveraged	leveraged	ADJ
cblr-1719	44	131	control	control	NOUN
cblr-1719	44	132	firms	firm	NOUN
cblr-1719	44	133	.	.	PUNCT
cblr-1719	45	1	10	10	NUM
cblr-1719	45	2	further	further	ADJ
cblr-1719	45	3	research	research	NOUN
cblr-1719	45	4	is	be	AUX
cblr-1719	45	5	needed	need	VERB
cblr-1719	45	6	to	to	ADP
cblr-1719	45	7	nordic	nordic	ADJ
cblr-1719	45	8	model	model	NOUN
cblr-1719	45	9	in	in	ADP
cblr-1719	45	10	an	an	DET
cblr-1719	45	11	international	international	ADJ
cblr-1719	45	12	perspective	perspective	NOUN
cblr-1719	45	13	:	:	PUNCT
cblr-1719	45	14	the	the	DET
cblr-1719	45	15	role	role	NOUN
cblr-1719	45	16	of	of	ADP
cblr-1719	45	17	ownership	ownership	NOUN
cblr-1719	45	18	,	,	PUNCT
cblr-1719	45	19	in	in	ADP
cblr-1719	45	20	the	the	DET
cblr-1719	45	21	nordic	nordic	ADJ
cblr-1719	45	22	corporate	corporate	ADJ
cblr-1719	45	23	governance	governance	NOUN
cblr-1719	45	24	model	model	NOUN
cblr-1719	45	25	94	94	NUM
cblr-1719	45	26	,	,	PUNCT
cblr-1719	45	27	98	98	NUM
cblr-1719	45	28	,	,	PUNCT
cblr-1719	45	29	102	102	NUM
cblr-1719	45	30	(	(	PUNCT
cblr-1719	45	31	per	per	ADP
cblr-1719	45	32	lekvall	lekvall	NOUN
cblr-1719	45	33	ed	ed	NOUN
cblr-1719	45	34	.	.	PROPN
cblr-1719	45	35	,	,	PUNCT
cblr-1719	45	36	2014	2014	NUM
cblr-1719	45	37	)	)	PUNCT
cblr-1719	45	38	.	.	PUNCT
cblr-1719	46	1	6	6	NUM
cblr-1719	46	2	bebchuk	bebchuk	NOUN
cblr-1719	46	3	et	et	PROPN
cblr-1719	46	4	al	al	PROPN
cblr-1719	46	5	.	.	PROPN
cblr-1719	46	6	,	,	PUNCT
cblr-1719	46	7	supra	supra	PROPN
cblr-1719	46	8	note	note	NOUN
cblr-1719	46	9	4	4	NUM
cblr-1719	46	10	,	,	PUNCT
cblr-1719	46	11	at	at	ADP
cblr-1719	46	12	301–06	301–06	NUM
cblr-1719	46	13	.	.	PUNCT
cblr-1719	46	14	7	7	NUM
cblr-1719	46	15	iss	iss	X
cblr-1719	46	16	et	et	PROPN
cblr-1719	46	17	al	al	PROPN
cblr-1719	46	18	.	.	PROPN
cblr-1719	46	19	,	,	PUNCT
cblr-1719	46	20	report	report	VERB
cblr-1719	46	21	on	on	ADP
cblr-1719	46	22	the	the	DET
cblr-1719	46	23	proportionality	proportionality	NOUN
cblr-1719	46	24	principle	principle	NOUN
cblr-1719	46	25	in	in	ADP
cblr-1719	46	26	the	the	DET
cblr-1719	46	27	european	european	PROPN
cblr-1719	46	28	union	union	PROPN
cblr-1719	46	29	24	24	NUM
cblr-1719	46	30	(	(	PUNCT
cblr-1719	46	31	2007	2007	NUM
cblr-1719	46	32	)	)	PUNCT
cblr-1719	46	33	;	;	PUNCT
cblr-1719	46	34	stijn	stijn	PROPN
cblr-1719	46	35	claessens	claessen	VERB
cblr-1719	46	36	et	et	PROPN
cblr-1719	46	37	al	al	PROPN
cblr-1719	46	38	.	.	PROPN
cblr-1719	46	39	,	,	PUNCT
cblr-1719	46	40	the	the	DET
cblr-1719	46	41	separation	separation	NOUN
cblr-1719	46	42	of	of	ADP
cblr-1719	46	43	ownership	ownership	NOUN
cblr-1719	46	44	and	and	CCONJ
cblr-1719	46	45	control	control	NOUN
cblr-1719	46	46	in	in	ADP
cblr-1719	46	47	east	east	ADJ
cblr-1719	46	48	asian	asian	ADJ
cblr-1719	46	49	corporations	corporation	NOUN
cblr-1719	46	50	,	,	PUNCT
cblr-1719	46	51	58	58	NUM
cblr-1719	46	52	j.	j.	PROPN
cblr-1719	46	53	fin	fin	PROPN
cblr-1719	46	54	.	.	PUNCT
cblr-1719	47	1	econ	econ	PROPN
cblr-1719	47	2	.	.	PUNCT
cblr-1719	48	1	81	81	NUM
cblr-1719	48	2	,	,	PUNCT
cblr-1719	48	3	92–93	92–93	NUM
cblr-1719	48	4	(	(	PUNCT
cblr-1719	48	5	2000	2000	NUM
cblr-1719	48	6	)	)	PUNCT
cblr-1719	48	7	.	.	PUNCT
cblr-1719	49	1	8	8	NUM
cblr-1719	49	2	paul	paul	PROPN
cblr-1719	49	3	a.	a.	PROPN
cblr-1719	49	4	gompers	gompers	PROPN
cblr-1719	49	5	et	et	PROPN
cblr-1719	49	6	al	al	PROPN
cblr-1719	49	7	.	.	PROPN
cblr-1719	49	8	,	,	PUNCT
cblr-1719	49	9	extreme	extreme	ADJ
cblr-1719	49	10	governance	governance	NOUN
cblr-1719	49	11	:	:	PUNCT
cblr-1719	49	12	an	an	DET
cblr-1719	49	13	analysis	analysis	NOUN
cblr-1719	49	14	of	of	ADP
cblr-1719	49	15	dualclass	dualclass	NOUN
cblr-1719	49	16	firms	firm	NOUN
cblr-1719	49	17	in	in	ADP
cblr-1719	49	18	the	the	DET
cblr-1719	49	19	united	united	PROPN
cblr-1719	49	20	states	states	PROPN
cblr-1719	49	21	,	,	PUNCT
cblr-1719	49	22	23	23	NUM
cblr-1719	49	23	rev	rev	X
cblr-1719	49	24	.	.	PROPN
cblr-1719	49	25	fin	fin	NOUN
cblr-1719	49	26	.	.	PUNCT
cblr-1719	49	27	stud	stud	PROPN
cblr-1719	49	28	.	.	PUNCT
cblr-1719	50	1	1051	1051	NUM
cblr-1719	50	2	,	,	PUNCT
cblr-1719	50	3	1057	1057	NUM
cblr-1719	50	4	(	(	PUNCT
cblr-1719	50	5	2010	2010	NUM
cblr-1719	50	6	)	)	PUNCT
cblr-1719	50	7	.	.	PUNCT
cblr-1719	51	1	9	9	NUM
cblr-1719	51	2	richard	richard	PROPN
cblr-1719	51	3	j.	j.	PROPN
cblr-1719	51	4	sandler	sandler	PROPN
cblr-1719	51	5	&	&	CCONJ
cblr-1719	51	6	joseph	joseph	PROPN
cblr-1719	51	7	a.	a.	PROPN
cblr-1719	51	8	hall	hall	PROPN
cblr-1719	51	9	,	,	PUNCT
cblr-1719	51	10	corporate	corporate	ADJ
cblr-1719	51	11	governance	governance	NOUN
cblr-1719	51	12	practices	practice	NOUN
cblr-1719	51	13	in	in	ADP
cblr-1719	51	14	ipos	ipos	PROPN
cblr-1719	51	15	,	,	PUNCT
cblr-1719	51	16	corp	corp	PROPN
cblr-1719	51	17	.	.	PROPN
cblr-1719	51	18	governance	governance	PROPN
cblr-1719	51	19	advisor	advisor	PROPN
cblr-1719	51	20	,	,	PUNCT
cblr-1719	51	21	july	july	PROPN
cblr-1719	51	22	/	/	SYM
cblr-1719	51	23	aug	aug	PROPN
cblr-1719	51	24	.	.	PROPN
cblr-1719	51	25	2014	2014	NUM
cblr-1719	51	26	,	,	PUNCT
cblr-1719	51	27	at	at	ADP
cblr-1719	51	28	17	17	NUM
cblr-1719	51	29	,	,	PUNCT
cblr-1719	51	30	18	18	NUM
cblr-1719	51	31	.	.	PUNCT
cblr-1719	51	32	10	10	NUM
cblr-1719	51	33	paul	paul	PROPN
cblr-1719	51	34	hodgson	hodgson	PROPN
cblr-1719	51	35	,	,	PUNCT
cblr-1719	51	36	alibaba	alibaba	PROPN
cblr-1719	51	37	ipo	ipo	PROPN
cblr-1719	51	38	:	:	PUNCT
cblr-1719	51	39	shareholders	shareholder	NOUN
cblr-1719	51	40	can	can	AUX
cblr-1719	51	41	buy	buy	VERB
cblr-1719	51	42	shares	share	NOUN
cblr-1719	51	43	,	,	PUNCT
cblr-1719	51	44	not	not	PART
cblr-1719	51	45	influence	influence	NOUN
cblr-1719	51	46	,	,	PUNCT
cblr-1719	51	47	fortune	fortune	NOUN
cblr-1719	51	48	(	(	PUNCT
cblr-1719	51	49	sept	sept	PROPN
cblr-1719	51	50	.	.	PROPN
cblr-1719	51	51	18	18	NUM
cblr-1719	51	52	,	,	PUNCT
cblr-1719	51	53	2014	2014	NUM
cblr-1719	51	54	)	)	PUNCT
cblr-1719	51	55	,	,	PUNCT
cblr-1719	51	56	http://fortune.com/2014/09/18/alibabalin	http://fortune.com/2014/09/18/alibabalin	PROPN
cblr-1719	51	57	–	–	PUNCT
cblr-1719	51	58	final	final	ADJ
cblr-1719	51	59	458	458	NUM
cblr-1719	51	60	columbia	columbia	PROPN
cblr-1719	51	61	business	business	NOUN
cblr-1719	51	62	law	law	PROPN
cblr-1719	51	63	review	review	NOUN
cblr-1719	51	64	[	[	X
cblr-1719	51	65	vol	vol	NOUN
cblr-1719	51	66	.	.	PUNCT
cblr-1719	51	67	2017	2017	NUM
cblr-1719	51	68	understand	understand	VERB
cblr-1719	51	69	the	the	DET
cblr-1719	51	70	dynamics	dynamic	NOUN
cblr-1719	51	71	that	that	PRON
cblr-1719	51	72	shape	shape	VERB
cblr-1719	51	73	the	the	DET
cblr-1719	51	74	proper	proper	ADJ
cblr-1719	51	75	use	use	NOUN
cblr-1719	51	76	of	of	ADP
cblr-1719	51	77	control	control	NOUN
cblr-1719	51	78	-	-	PUNCT
cblr-1719	51	79	enhancing	enhance	VERB
cblr-1719	51	80	mechanisms	mechanism	NOUN
cblr-1719	51	81	and	and	CCONJ
cblr-1719	51	82	the	the	DET
cblr-1719	51	83	role	role	NOUN
cblr-1719	51	84	of	of	ADP
cblr-1719	51	85	law	law	NOUN
cblr-1719	51	86	and	and	CCONJ
cblr-1719	51	87	governance	governance	NOUN
cblr-1719	51	88	in	in	ADP
cblr-1719	51	89	mitigating	mitigate	VERB
cblr-1719	51	90	the	the	DET
cblr-1719	51	91	distortions	distortion	NOUN
cblr-1719	51	92	in	in	ADP
cblr-1719	51	93	a	a	DET
cblr-1719	51	94	leveraged	leverage	VERB
cblr-1719	51	95	control	control	NOUN
cblr-1719	51	96	structure.11	structure.11	VERB
cblr-1719	51	97	this	this	DET
cblr-1719	51	98	article	article	NOUN
cblr-1719	51	99	first	first	ADV
cblr-1719	51	100	reviews	review	VERB
cblr-1719	51	101	the	the	DET
cblr-1719	51	102	practice	practice	NOUN
cblr-1719	51	103	and	and	CCONJ
cblr-1719	51	104	regulatory	regulatory	ADJ
cblr-1719	51	105	framework	framework	NOUN
cblr-1719	51	106	of	of	ADP
cblr-1719	51	107	leveraged	leveraged	ADJ
cblr-1719	51	108	control	control	NOUN
cblr-1719	51	109	in	in	ADP
cblr-1719	51	110	the	the	DET
cblr-1719	51	111	united	united	PROPN
cblr-1719	51	112	states	states	PROPN
cblr-1719	51	113	,	,	PUNCT
cblr-1719	51	114	europe	europe	PROPN
cblr-1719	51	115	,	,	PUNCT
cblr-1719	51	116	and	and	CCONJ
cblr-1719	51	117	east	east	PROPN
cblr-1719	51	118	asia	asia	PROPN
cblr-1719	51	119	.	.	PUNCT
cblr-1719	52	1	in	in	ADP
cblr-1719	52	2	general	general	ADJ
cblr-1719	52	3	,	,	PUNCT
cblr-1719	52	4	most	most	ADJ
cblr-1719	52	5	jurisdictions	jurisdiction	NOUN
cblr-1719	52	6	allow	allow	VERB
cblr-1719	52	7	for	for	ADP
cblr-1719	52	8	a	a	DET
cblr-1719	52	9	certain	certain	ADJ
cblr-1719	52	10	amount	amount	NOUN
cblr-1719	52	11	of	of	ADP
cblr-1719	52	12	deviation	deviation	NOUN
cblr-1719	52	13	from	from	ADP
cblr-1719	52	14	the	the	DET
cblr-1719	52	15	one	one	NUM
cblr-1719	52	16	-	-	PUNCT
cblr-1719	52	17	share	share	NOUN
cblr-1719	52	18	one	one	NUM
cblr-1719	52	19	-	-	PUNCT
cblr-1719	52	20	vote	vote	NOUN
cblr-1719	52	21	rule	rule	NOUN
cblr-1719	52	22	.	.	PUNCT
cblr-1719	53	1	yet	yet	ADV
cblr-1719	53	2	,	,	PUNCT
cblr-1719	53	3	there	there	PRON
cblr-1719	53	4	does	do	AUX
cblr-1719	53	5	not	not	PART
cblr-1719	53	6	seem	seem	VERB
cblr-1719	53	7	to	to	PART
cblr-1719	53	8	be	be	AUX
cblr-1719	53	9	a	a	DET
cblr-1719	53	10	consensus	consensus	NOUN
cblr-1719	53	11	on	on	ADP
cblr-1719	53	12	how	how	SCONJ
cblr-1719	53	13	to	to	PART
cblr-1719	53	14	regulate	regulate	VERB
cblr-1719	53	15	different	different	ADJ
cblr-1719	53	16	forms	form	NOUN
cblr-1719	53	17	of	of	ADP
cblr-1719	53	18	deviation	deviation	NOUN
cblr-1719	53	19	devices	device	NOUN
cblr-1719	53	20	.	.	PUNCT
cblr-1719	54	1	this	this	DET
cblr-1719	54	2	article	article	NOUN
cblr-1719	54	3	then	then	ADV
cblr-1719	54	4	reviews	review	VERB
cblr-1719	54	5	current	current	ADJ
cblr-1719	54	6	theories	theory	NOUN
cblr-1719	54	7	and	and	CCONJ
cblr-1719	54	8	empirical	empirical	ADJ
cblr-1719	54	9	studies	study	NOUN
cblr-1719	54	10	on	on	ADP
cblr-1719	54	11	leveraged	leveraged	ADJ
cblr-1719	54	12	control	control	NOUN
cblr-1719	54	13	to	to	PART
cblr-1719	54	14	see	see	VERB
cblr-1719	54	15	if	if	SCONJ
cblr-1719	54	16	there	there	PRON
cblr-1719	54	17	are	be	VERB
cblr-1719	54	18	coherent	coherent	ADJ
cblr-1719	54	19	grounds	ground	NOUN
cblr-1719	54	20	either	either	CCONJ
cblr-1719	54	21	for	for	ADP
cblr-1719	54	22	or	or	CCONJ
cblr-1719	54	23	against	against	ADP
cblr-1719	54	24	leveraged	leveraged	ADJ
cblr-1719	54	25	control	control	NOUN
cblr-1719	54	26	.	.	PUNCT
cblr-1719	55	1	as	as	SCONJ
cblr-1719	55	2	mentioned	mention	VERB
cblr-1719	55	3	,	,	PUNCT
cblr-1719	55	4	the	the	DET
cblr-1719	55	5	theories	theory	NOUN
cblr-1719	55	6	do	do	AUX
cblr-1719	55	7	not	not	PART
cblr-1719	55	8	seem	seem	VERB
cblr-1719	55	9	to	to	PART
cblr-1719	55	10	point	point	VERB
cblr-1719	55	11	in	in	ADP
cblr-1719	55	12	a	a	DET
cblr-1719	55	13	clear	clear	ADJ
cblr-1719	55	14	direction	direction	NOUN
cblr-1719	55	15	.	.	PUNCT
cblr-1719	56	1	even	even	ADV
cblr-1719	56	2	though	though	SCONJ
cblr-1719	56	3	the	the	DET
cblr-1719	56	4	findings	finding	NOUN
cblr-1719	56	5	of	of	ADP
cblr-1719	56	6	the	the	DET
cblr-1719	56	7	existing	exist	VERB
cblr-1719	56	8	empirical	empirical	ADJ
cblr-1719	56	9	studies	study	NOUN
cblr-1719	56	10	are	be	AUX
cblr-1719	56	11	mixed	mixed	ADJ
cblr-1719	56	12	,	,	PUNCT
cblr-1719	56	13	there	there	PRON
cblr-1719	56	14	are	be	VERB
cblr-1719	56	15	more	more	ADJ
cblr-1719	56	16	studies	study	NOUN
cblr-1719	56	17	that	that	PRON
cblr-1719	56	18	suggest	suggest	VERB
cblr-1719	56	19	leveraged	leveraged	ADJ
cblr-1719	56	20	control	control	NOUN
cblr-1719	56	21	correlates	correlate	VERB
cblr-1719	56	22	with	with	ADP
cblr-1719	56	23	lower	low	ADJ
cblr-1719	56	24	firm	firm	ADJ
cblr-1719	56	25	value	value	NOUN
cblr-1719	56	26	.	.	PUNCT
cblr-1719	57	1	in	in	ADP
cblr-1719	57	2	particular	particular	ADJ
cblr-1719	57	3	,	,	PUNCT
cblr-1719	57	4	there	there	PRON
cblr-1719	57	5	is	be	VERB
cblr-1719	57	6	evidence	evidence	NOUN
cblr-1719	57	7	showing	show	VERB
cblr-1719	57	8	that	that	SCONJ
cblr-1719	57	9	the	the	DET
cblr-1719	57	10	value	value	NOUN
cblr-1719	57	11	discount	discount	NOUN
cblr-1719	57	12	may	may	AUX
cblr-1719	57	13	not	not	PART
cblr-1719	57	14	come	come	VERB
cblr-1719	57	15	from	from	ADP
cblr-1719	57	16	inefficient	inefficient	ADJ
cblr-1719	57	17	monitoring	monitoring	NOUN
cblr-1719	57	18	,	,	PUNCT
cblr-1719	57	19	but	but	CCONJ
cblr-1719	57	20	rather	rather	ADV
cblr-1719	57	21	from	from	ADP
cblr-1719	57	22	the	the	DET
cblr-1719	57	23	extraction	extraction	NOUN
cblr-1719	57	24	of	of	ADP
cblr-1719	57	25	private	private	ADJ
cblr-1719	57	26	benefits	benefit	NOUN
cblr-1719	57	27	by	by	ADP
cblr-1719	57	28	controlling	control	VERB
cblr-1719	57	29	-	-	PUNCT
cblr-1719	57	30	minority	minority	NOUN
cblr-1719	57	31	shareholders	shareholder	NOUN
cblr-1719	57	32	.	.	PUNCT
cblr-1719	58	1	this	this	DET
cblr-1719	58	2	result	result	NOUN
cblr-1719	58	3	explains	explain	VERB
cblr-1719	58	4	the	the	DET
cblr-1719	58	5	concern	concern	NOUN
cblr-1719	58	6	over	over	ADP
cblr-1719	58	7	increased	increase	VERB
cblr-1719	58	8	entrenchment	entrenchment	ADJ
cblr-1719	58	9	agency	agency	NOUN
cblr-1719	58	10	costs	cost	NOUN
cblr-1719	58	11	in	in	ADP
cblr-1719	58	12	a	a	DET
cblr-1719	58	13	leveraged	leveraged	ADJ
cblr-1719	58	14	control	control	NOUN
cblr-1719	58	15	firm	firm	NOUN
cblr-1719	58	16	.	.	PUNCT
cblr-1719	59	1	next	next	ADV
cblr-1719	59	2	,	,	PUNCT
cblr-1719	59	3	this	this	DET
cblr-1719	59	4	article	article	NOUN
cblr-1719	59	5	critically	critically	ADV
cblr-1719	59	6	reviews	review	VERB
cblr-1719	59	7	the	the	DET
cblr-1719	59	8	freedom	freedom	NOUN
cblr-1719	59	9	of	of	ADP
cblr-1719	59	10	contract	contract	NOUN
cblr-1719	59	11	argument	argument	NOUN
cblr-1719	59	12	,	,	PUNCT
cblr-1719	59	13	which	which	PRON
cblr-1719	59	14	supports	support	VERB
cblr-1719	59	15	practices	practice	NOUN
cblr-1719	59	16	that	that	PRON
cblr-1719	59	17	deviate	deviate	VERB
cblr-1719	59	18	from	from	ADP
cblr-1719	59	19	the	the	DET
cblr-1719	59	20	one	one	NUM
cblr-1719	59	21	-	-	PUNCT
cblr-1719	59	22	share	share	NOUN
cblr-1719	59	23	one	one	NUM
cblr-1719	59	24	-	-	PUNCT
cblr-1719	59	25	vote	vote	NOUN
cblr-1719	59	26	principle	principle	NOUN
cblr-1719	59	27	.	.	PUNCT
cblr-1719	60	1	through	through	ADP
cblr-1719	60	2	the	the	DET
cblr-1719	60	3	lens	lens	NOUN
cblr-1719	60	4	of	of	ADP
cblr-1719	60	5	the	the	DET
cblr-1719	60	6	contractarian	contractarian	ADJ
cblr-1719	60	7	theory	theory	NOUN
cblr-1719	60	8	of	of	ADP
cblr-1719	60	9	the	the	DET
cblr-1719	60	10	firm	firm	NOUN
cblr-1719	60	11	,	,	PUNCT
cblr-1719	60	12	this	this	DET
cblr-1719	60	13	article	article	NOUN
cblr-1719	60	14	suggests	suggest	VERB
cblr-1719	60	15	that	that	SCONJ
cblr-1719	60	16	differentiating	differentiate	VERB
cblr-1719	60	17	the	the	DET
cblr-1719	60	18	ipo	ipo	NOUN
cblr-1719	60	19	stage	stage	NOUN
cblr-1719	60	20	from	from	ADP
cblr-1719	60	21	the	the	DET
cblr-1719	60	22	post	post	NOUN
cblr-1719	60	23	-	-	NOUN
cblr-1719	60	24	ipo	ipo	NOUN
cblr-1719	60	25	(	(	PUNCT
cblr-1719	60	26	or	or	CCONJ
cblr-1719	60	27	“	"	PUNCT
cblr-1719	60	28	midstream	midstream	NOUN
cblr-1719	60	29	”	"	PUNCT
cblr-1719	60	30	)	)	PUNCT
cblr-1719	60	31	stage	stage	NOUN
cblr-1719	60	32	is	be	AUX
cblr-1719	60	33	essential	essential	ADJ
cblr-1719	60	34	in	in	ADP
cblr-1719	60	35	analyzing	analyze	VERB
cblr-1719	60	36	the	the	DET
cblr-1719	60	37	agency	agency	NOUN
cblr-1719	60	38	problem	problem	NOUN
cblr-1719	60	39	faced	face	VERB
cblr-1719	60	40	by	by	ADP
cblr-1719	60	41	outside	outside	ADJ
cblr-1719	60	42	shareholders	shareholder	NOUN
cblr-1719	60	43	in	in	ADP
cblr-1719	60	44	a	a	DET
cblr-1719	60	45	leveraged	leveraged	ADJ
cblr-1719	60	46	control	control	NOUN
cblr-1719	60	47	firm	firm	NOUN
cblr-1719	60	48	.	.	PUNCT
cblr-1719	61	1	this	this	DET
cblr-1719	61	2	article	article	NOUN
cblr-1719	61	3	argues	argue	VERB
cblr-1719	61	4	that	that	SCONJ
cblr-1719	61	5	the	the	DET
cblr-1719	61	6	contracting	contracting	NOUN
cblr-1719	61	7	mechanism	mechanism	NOUN
cblr-1719	61	8	,	,	PUNCT
cblr-1719	61	9	which	which	PRON
cblr-1719	61	10	ensures	ensure	VERB
cblr-1719	61	11	the	the	DET
cblr-1719	61	12	efficiency	efficiency	NOUN
cblr-1719	61	13	of	of	ADP
cblr-1719	61	14	any	any	DET
cblr-1719	61	15	governance	governance	NOUN
cblr-1719	61	16	design	design	NOUN
cblr-1719	61	17	,	,	PUNCT
cblr-1719	61	18	can	can	AUX
cblr-1719	61	19	be	be	AUX
cblr-1719	61	20	ipo	ipo	NOUN
cblr-1719	61	21	-	-	PUNCT
cblr-1719	61	22	shareholders/	shareholders/	VERB
cblr-1719	61	23	[	[	X
cblr-1719	61	24	https://perma.cc/gr2r-n4xc	https://perma.cc/gr2r-n4xc	NOUN
cblr-1719	61	25	]	]	X
cblr-1719	61	26	;	;	PUNCT
cblr-1719	61	27	nell	nell	PROPN
cblr-1719	61	28	minow	minow	PROPN
cblr-1719	61	29	,	,	PUNCT
cblr-1719	61	30	the	the	DET
cblr-1719	61	31	hidden	hidden	ADJ
cblr-1719	61	32	danger	danger	NOUN
cblr-1719	61	33	of	of	ADP
cblr-1719	61	34	ipos	ipos	PROPN
cblr-1719	61	35	like	like	ADP
cblr-1719	61	36	groupon	groupon	NOUN
cblr-1719	61	37	and	and	CCONJ
cblr-1719	61	38	linkedin	linkedin	NOUN
cblr-1719	61	39	—	—	PUNCT
cblr-1719	61	40	and	and	CCONJ
cblr-1719	61	41	what	what	PRON
cblr-1719	61	42	it	it	PRON
cblr-1719	61	43	will	will	AUX
cblr-1719	61	44	cost	cost	VERB
cblr-1719	61	45	,	,	PUNCT
cblr-1719	61	46	cbs	cbs	PROPN
cblr-1719	61	47	moneywatch	moneywatch	PROPN
cblr-1719	61	48	(	(	PUNCT
cblr-1719	61	49	june	june	PROPN
cblr-1719	61	50	10	10	NUM
cblr-1719	61	51	,	,	PUNCT
cblr-1719	61	52	2011	2011	NUM
cblr-1719	61	53	)	)	PUNCT
cblr-1719	61	54	,	,	PUNCT
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cblr-1719	61	56	[	[	X
cblr-1719	61	57	https://perma.cc/5vbk-p3wu	https://perma.cc/5vbk-p3wu	X
cblr-1719	61	58	]	]	PUNCT
cblr-1719	61	59	.	.	PUNCT
cblr-1719	62	1	11	11	NUM
cblr-1719	62	2	sara	sara	PROPN
cblr-1719	62	3	saggese	saggese	PROPN
cblr-1719	62	4	et	et	PROPN
cblr-1719	62	5	al	al	PROPN
cblr-1719	62	6	.	.	PROPN
cblr-1719	62	7	,	,	PUNCT
cblr-1719	62	8	evolution	evolution	NOUN
cblr-1719	62	9	of	of	ADP
cblr-1719	62	10	the	the	DET
cblr-1719	62	11	debate	debate	NOUN
cblr-1719	62	12	on	on	ADP
cblr-1719	62	13	control	control	NOUN
cblr-1719	62	14	enhancing	enhance	VERB
cblr-1719	62	15	mechanisms	mechanism	NOUN
cblr-1719	62	16	:	:	PUNCT
cblr-1719	62	17	a	a	DET
cblr-1719	62	18	systematic	systematic	ADJ
cblr-1719	62	19	review	review	NOUN
cblr-1719	62	20	and	and	CCONJ
cblr-1719	62	21	bibliometric	bibliometric	ADJ
cblr-1719	62	22	analysis	analysis	NOUN
cblr-1719	62	23	,	,	PUNCT
cblr-1719	62	24	18	18	NUM
cblr-1719	62	25	int	int	NOUN
cblr-1719	62	26	.	.	PUNCT
cblr-1719	63	1	j.	j.	PROPN
cblr-1719	63	2	mgm’t	mgm’t	PROPN
cblr-1719	63	3	revs	revs	PROPN
cblr-1719	63	4	.	.	PUNCT
cblr-1719	64	1	417	417	NUM
cblr-1719	64	2	,	,	PUNCT
cblr-1719	64	3	434–35	434–35	X
cblr-1719	64	4	(	(	PUNCT
cblr-1719	64	5	2016	2016	NUM
cblr-1719	64	6	)	)	PUNCT
cblr-1719	64	7	.	.	PUNCT
cblr-1719	65	1	lin	lin	PROPN
cblr-1719	65	2	–	–	PUNCT
cblr-1719	65	3	final	final	ADJ
cblr-1719	65	4	no	no	NOUN
cblr-1719	65	5	.	.	PUNCT
cblr-1719	66	1	2:453	2:453	NUM
cblr-1719	66	2	]	]	X
cblr-1719	66	3	controlling	control	VERB
cblr-1719	66	4	-	-	PUNCT
cblr-1719	66	5	minority	minority	NOUN
cblr-1719	66	6	shareholders	shareholder	NOUN
cblr-1719	66	7	459	459	NUM
cblr-1719	66	8	achieved	achieve	VERB
cblr-1719	66	9	,	,	PUNCT
cblr-1719	66	10	at	at	ADP
cblr-1719	66	11	best	good	ADJ
cblr-1719	66	12	,	,	PUNCT
cblr-1719	66	13	only	only	ADV
cblr-1719	66	14	in	in	ADP
cblr-1719	66	15	the	the	DET
cblr-1719	66	16	ipo	ipo	NOUN
cblr-1719	66	17	stage	stage	NOUN
cblr-1719	66	18	where	where	SCONJ
cblr-1719	66	19	potential	potential	ADJ
cblr-1719	66	20	investors	investor	NOUN
cblr-1719	66	21	can	can	AUX
cblr-1719	66	22	place	place	VERB
cblr-1719	66	23	discounts	discount	NOUN
cblr-1719	66	24	on	on	ADP
cblr-1719	66	25	any	any	DET
cblr-1719	66	26	pro	pro	ADJ
cblr-1719	66	27	-	-	ADJ
cblr-1719	66	28	insider	insider	ADJ
cblr-1719	66	29	governance	governance	NOUN
cblr-1719	66	30	measure	measure	NOUN
cblr-1719	66	31	and	and	CCONJ
cblr-1719	66	32	corporate	corporate	ADJ
cblr-1719	66	33	insiders	insider	NOUN
cblr-1719	66	34	directly	directly	ADV
cblr-1719	66	35	suffer	suffer	VERB
cblr-1719	66	36	the	the	DET
cblr-1719	66	37	loss	loss	NOUN
cblr-1719	66	38	of	of	ADP
cblr-1719	66	39	a	a	DET
cblr-1719	66	40	price	price	NOUN
cblr-1719	66	41	discount	discount	NOUN
cblr-1719	66	42	.	.	PUNCT
cblr-1719	67	1	in	in	ADP
cblr-1719	67	2	the	the	DET
cblr-1719	67	3	midstream	midstream	NOUN
cblr-1719	67	4	stage	stage	NOUN
cblr-1719	67	5	,	,	PUNCT
cblr-1719	67	6	the	the	DET
cblr-1719	67	7	contracting	contracting	NOUN
cblr-1719	67	8	mechanism	mechanism	NOUN
cblr-1719	67	9	that	that	PRON
cblr-1719	67	10	is	be	AUX
cblr-1719	67	11	present	present	ADJ
cblr-1719	67	12	at	at	ADP
cblr-1719	67	13	the	the	DET
cblr-1719	67	14	ipo	ipo	NOUN
cblr-1719	67	15	stage	stage	NOUN
cblr-1719	67	16	is	be	AUX
cblr-1719	67	17	no	no	ADV
cblr-1719	67	18	longer	long	ADV
cblr-1719	67	19	present	present	ADJ
cblr-1719	67	20	.	.	PUNCT
cblr-1719	68	1	therefore	therefore	ADV
cblr-1719	68	2	,	,	PUNCT
cblr-1719	68	3	pro	pro	ADJ
cblr-1719	68	4	-	-	ADJ
cblr-1719	68	5	insider	insider	ADJ
cblr-1719	68	6	charter	charter	NOUN
cblr-1719	68	7	amendments	amendment	NOUN
cblr-1719	68	8	are	be	AUX
cblr-1719	68	9	likely	likely	ADJ
cblr-1719	68	10	to	to	PART
cblr-1719	68	11	be	be	AUX
cblr-1719	68	12	passed	pass	VERB
cblr-1719	68	13	because	because	SCONJ
cblr-1719	68	14	outside	outside	ADJ
cblr-1719	68	15	shareholders	shareholder	NOUN
cblr-1719	68	16	lose	lose	VERB
cblr-1719	68	17	their	their	PRON
cblr-1719	68	18	bargaining	bargaining	NOUN
cblr-1719	68	19	power	power	NOUN
cblr-1719	68	20	by	by	ADP
cblr-1719	68	21	giving	give	VERB
cblr-1719	68	22	up	up	ADP
cblr-1719	68	23	a	a	DET
cblr-1719	68	24	majority	majority	NOUN
cblr-1719	68	25	of	of	ADP
cblr-1719	68	26	the	the	DET
cblr-1719	68	27	votes	vote	NOUN
cblr-1719	68	28	to	to	ADP
cblr-1719	68	29	controlling	control	VERB
cblr-1719	68	30	-	-	PUNCT
cblr-1719	68	31	minority	minority	NOUN
cblr-1719	68	32	shareholders	shareholder	NOUN
cblr-1719	68	33	.	.	PUNCT
cblr-1719	69	1	in	in	ADP
cblr-1719	69	2	the	the	DET
cblr-1719	69	3	case	case	NOUN
cblr-1719	69	4	where	where	SCONJ
cblr-1719	69	5	a	a	DET
cblr-1719	69	6	leveraged	leverage	VERB
cblr-1719	69	7	control	control	NOUN
cblr-1719	69	8	firm	firm	NOUN
cblr-1719	69	9	adopted	adopt	VERB
cblr-1719	69	10	a	a	DET
cblr-1719	69	11	supermajority	supermajority	NOUN
cblr-1719	69	12	voting	voting	NOUN
cblr-1719	69	13	requirement	requirement	NOUN
cblr-1719	69	14	for	for	ADP
cblr-1719	69	15	charter	charter	NOUN
cblr-1719	69	16	amendments	amendment	NOUN
cblr-1719	69	17	during	during	ADP
cblr-1719	69	18	its	its	PRON
cblr-1719	69	19	ipo	ipo	NOUN
cblr-1719	69	20	,	,	PUNCT
cblr-1719	69	21	like	like	ADP
cblr-1719	69	22	in	in	ADP
cblr-1719	69	23	the	the	DET
cblr-1719	69	24	case	case	NOUN
cblr-1719	69	25	of	of	ADP
cblr-1719	69	26	google	google	PROPN
cblr-1719	69	27	and	and	CCONJ
cblr-1719	69	28	alibaba	alibaba	PROPN
cblr-1719	69	29	,	,	PUNCT
cblr-1719	69	30	such	such	DET
cblr-1719	69	31	a	a	DET
cblr-1719	69	32	supermajority	supermajority	NOUN
cblr-1719	69	33	provision	provision	NOUN
cblr-1719	69	34	further	far	ADV
cblr-1719	69	35	distorts	distort	VERB
cblr-1719	69	36	the	the	DET
cblr-1719	69	37	contracting	contracting	NOUN
cblr-1719	69	38	mechanism	mechanism	NOUN
cblr-1719	69	39	in	in	ADP
cblr-1719	69	40	the	the	DET
cblr-1719	69	41	midstream	midstream	NOUN
cblr-1719	69	42	and	and	CCONJ
cblr-1719	69	43	weakens	weaken	VERB
cblr-1719	69	44	minority	minority	NOUN
cblr-1719	69	45	shareholders	shareholder	NOUN
cblr-1719	69	46	’	'	PUNCT
cblr-1719	69	47	ability	ability	NOUN
cblr-1719	69	48	to	to	PART
cblr-1719	69	49	adopt	adopt	VERB
cblr-1719	69	50	value	value	NOUN
cblr-1719	69	51	-	-	PUNCT
cblr-1719	69	52	enhancing	enhance	VERB
cblr-1719	69	53	amendments	amendment	NOUN
cblr-1719	69	54	.	.	PUNCT
cblr-1719	70	1	with	with	ADP
cblr-1719	70	2	disproportionate	disproportionate	ADJ
cblr-1719	70	3	voting	voting	NOUN
cblr-1719	70	4	power	power	NOUN
cblr-1719	70	5	at	at	ADP
cblr-1719	70	6	hand	hand	NOUN
cblr-1719	70	7	,	,	PUNCT
cblr-1719	70	8	controlling	control	VERB
cblr-1719	70	9	-	-	PUNCT
cblr-1719	70	10	minority	minority	NOUN
cblr-1719	70	11	shareholders	shareholder	NOUN
cblr-1719	70	12	can	can	AUX
cblr-1719	70	13	easily	easily	ADV
cblr-1719	70	14	block	block	VERB
cblr-1719	70	15	such	such	ADJ
cblr-1719	70	16	amendment	amendment	NOUN
cblr-1719	70	17	proposals	proposal	NOUN
cblr-1719	70	18	.	.	PUNCT
cblr-1719	71	1	recent	recent	ADJ
cblr-1719	71	2	recapitalizations	recapitalization	NOUN
cblr-1719	71	3	of	of	ADP
cblr-1719	71	4	google	google	PROPN
cblr-1719	71	5	and	and	CCONJ
cblr-1719	71	6	facebook	facebook	NOUN
cblr-1719	71	7	,	,	PUNCT
cblr-1719	71	8	as	as	ADV
cblr-1719	71	9	well	well	ADV
cblr-1719	71	10	as	as	ADP
cblr-1719	71	11	goingprivate	goingprivate	NOUN
cblr-1719	71	12	transactions	transaction	NOUN
cblr-1719	71	13	among	among	ADP
cblr-1719	71	14	many	many	ADJ
cblr-1719	71	15	u.s.-listed	u.s.-listed	ADJ
cblr-1719	71	16	chinese	chinese	ADJ
cblr-1719	71	17	firms	firm	NOUN
cblr-1719	71	18	,	,	PUNCT
cblr-1719	71	19	provide	provide	VERB
cblr-1719	71	20	vivid	vivid	ADJ
cblr-1719	71	21	examples	example	NOUN
cblr-1719	71	22	of	of	ADP
cblr-1719	71	23	the	the	DET
cblr-1719	71	24	midstream	midstream	NOUN
cblr-1719	71	25	opportunistic	opportunistic	ADJ
cblr-1719	71	26	behaviors	behavior	NOUN
cblr-1719	71	27	of	of	ADP
cblr-1719	71	28	controlling	control	VERB
cblr-1719	71	29	-	-	PUNCT
cblr-1719	71	30	minority	minority	NOUN
cblr-1719	71	31	shareholders	shareholder	NOUN
cblr-1719	71	32	.	.	PUNCT
cblr-1719	72	1	in	in	ADP
cblr-1719	72	2	the	the	DET
cblr-1719	72	3	final	final	ADJ
cblr-1719	72	4	part	part	NOUN
cblr-1719	72	5	,	,	PUNCT
cblr-1719	72	6	this	this	DET
cblr-1719	72	7	article	article	NOUN
cblr-1719	72	8	discusses	discuss	VERB
cblr-1719	72	9	the	the	DET
cblr-1719	72	10	ways	way	NOUN
cblr-1719	72	11	in	in	ADP
cblr-1719	72	12	which	which	PRON
cblr-1719	72	13	policy	policy	NOUN
cblr-1719	72	14	should	should	AUX
cblr-1719	72	15	address	address	VERB
cblr-1719	72	16	the	the	DET
cblr-1719	72	17	midstream	midstream	NOUN
cblr-1719	72	18	pro	pro	ADJ
cblr-1719	72	19	-	-	ADJ
cblr-1719	72	20	insider	insider	ADJ
cblr-1719	72	21	distortions	distortion	NOUN
cblr-1719	72	22	in	in	ADP
cblr-1719	72	23	leveraged	leveraged	ADJ
cblr-1719	72	24	control	control	NOUN
cblr-1719	72	25	firms	firm	NOUN
cblr-1719	72	26	.	.	PUNCT
cblr-1719	73	1	one	one	NUM
cblr-1719	73	2	size	size	NOUN
cblr-1719	73	3	does	do	AUX
cblr-1719	73	4	not	not	PART
cblr-1719	73	5	fit	fit	VERB
cblr-1719	73	6	all	all	PRON
cblr-1719	73	7	.	.	PUNCT
cblr-1719	74	1	considering	consider	VERB
cblr-1719	74	2	how	how	SCONJ
cblr-1719	74	3	different	different	ADJ
cblr-1719	74	4	corporations	corporation	NOUN
cblr-1719	74	5	demonstrate	demonstrate	VERB
cblr-1719	74	6	different	different	ADJ
cblr-1719	74	7	characteristics	characteristic	NOUN
cblr-1719	74	8	,	,	PUNCT
cblr-1719	74	9	this	this	DET
cblr-1719	74	10	article	article	NOUN
cblr-1719	74	11	argues	argue	VERB
cblr-1719	74	12	that	that	SCONJ
cblr-1719	74	13	an	an	DET
cblr-1719	74	14	outright	outright	ADJ
cblr-1719	74	15	prohibition	prohibition	NOUN
cblr-1719	74	16	of	of	ADP
cblr-1719	74	17	certain	certain	ADJ
cblr-1719	74	18	types	type	NOUN
cblr-1719	74	19	of	of	ADP
cblr-1719	74	20	control	control	NOUN
cblr-1719	74	21	-	-	PUNCT
cblr-1719	74	22	enhancing	enhance	VERB
cblr-1719	74	23	mechanisms	mechanism	NOUN
cblr-1719	74	24	may	may	AUX
cblr-1719	74	25	not	not	PART
cblr-1719	74	26	be	be	AUX
cblr-1719	74	27	optimal	optimal	ADJ
cblr-1719	74	28	.	.	PUNCT
cblr-1719	75	1	instead	instead	ADV
cblr-1719	75	2	,	,	PUNCT
cblr-1719	75	3	we	we	PRON
cblr-1719	75	4	should	should	AUX
cblr-1719	75	5	leave	leave	VERB
cblr-1719	75	6	these	these	DET
cblr-1719	75	7	decisions	decision	NOUN
cblr-1719	75	8	in	in	ADP
cblr-1719	75	9	the	the	DET
cblr-1719	75	10	hands	hand	NOUN
cblr-1719	75	11	of	of	ADP
cblr-1719	75	12	shareholders	shareholder	NOUN
cblr-1719	75	13	.	.	PUNCT
cblr-1719	76	1	to	to	PART
cblr-1719	76	2	do	do	VERB
cblr-1719	76	3	so	so	ADV
cblr-1719	76	4	,	,	PUNCT
cblr-1719	76	5	empowering	empower	VERB
cblr-1719	76	6	shareholders	shareholder	NOUN
cblr-1719	76	7	by	by	ADP
cblr-1719	76	8	increasing	increase	VERB
cblr-1719	76	9	shareholder	shareholder	NOUN
cblr-1719	76	10	participation	participation	NOUN
cblr-1719	76	11	would	would	AUX
cblr-1719	76	12	be	be	AUX
cblr-1719	76	13	the	the	DET
cblr-1719	76	14	best	good	ADJ
cblr-1719	76	15	way	way	NOUN
cblr-1719	76	16	to	to	PART
cblr-1719	76	17	resolve	resolve	VERB
cblr-1719	76	18	the	the	DET
cblr-1719	76	19	imbalance	imbalance	NOUN
cblr-1719	76	20	of	of	ADP
cblr-1719	76	21	power	power	NOUN
cblr-1719	76	22	in	in	ADP
cblr-1719	76	23	a	a	DET
cblr-1719	76	24	leveraged	leveraged	ADJ
cblr-1719	76	25	control	control	NOUN
cblr-1719	76	26	firm	firm	NOUN
cblr-1719	76	27	.	.	PUNCT
cblr-1719	77	1	in	in	ADP
cblr-1719	77	2	particular	particular	ADJ
cblr-1719	77	3	,	,	PUNCT
cblr-1719	77	4	institutional	institutional	ADJ
cblr-1719	77	5	investors	investor	NOUN
cblr-1719	77	6	,	,	PUNCT
cblr-1719	77	7	together	together	ADV
cblr-1719	77	8	with	with	ADP
cblr-1719	77	9	shareholder	shareholder	NOUN
cblr-1719	77	10	activists	activist	NOUN
cblr-1719	77	11	,	,	PUNCT
cblr-1719	77	12	could	could	AUX
cblr-1719	77	13	fix	fix	VERB
cblr-1719	77	14	the	the	DET
cblr-1719	77	15	collective	collective	ADJ
cblr-1719	77	16	action	action	NOUN
cblr-1719	77	17	problem	problem	NOUN
cblr-1719	77	18	of	of	ADP
cblr-1719	77	19	outside	outside	ADJ
cblr-1719	77	20	shareholders	shareholder	NOUN
cblr-1719	77	21	and	and	CCONJ
cblr-1719	77	22	draw	draw	VERB
cblr-1719	77	23	attention	attention	NOUN
cblr-1719	77	24	to	to	ADP
cblr-1719	77	25	governance	governance	NOUN
cblr-1719	77	26	failures	failure	NOUN
cblr-1719	77	27	in	in	ADP
cblr-1719	77	28	leveraged	leveraged	ADJ
cblr-1719	77	29	control	control	NOUN
cblr-1719	77	30	firms	firm	NOUN
cblr-1719	77	31	.	.	PUNCT
cblr-1719	78	1	part	part	PROPN
cblr-1719	78	2	ii	ii	PROPN
cblr-1719	78	3	reviews	review	VERB
cblr-1719	78	4	the	the	DET
cblr-1719	78	5	current	current	ADJ
cblr-1719	78	6	practice	practice	NOUN
cblr-1719	78	7	and	and	CCONJ
cblr-1719	78	8	regulatory	regulatory	ADJ
cblr-1719	78	9	framework	framework	NOUN
cblr-1719	78	10	of	of	ADP
cblr-1719	78	11	leveraged	leveraged	ADJ
cblr-1719	78	12	control	control	NOUN
cblr-1719	78	13	in	in	ADP
cblr-1719	78	14	major	major	ADJ
cblr-1719	78	15	jurisdictions	jurisdiction	NOUN
cblr-1719	78	16	.	.	PUNCT
cblr-1719	79	1	part	part	NOUN
cblr-1719	79	2	iii	iii	NUM
cblr-1719	79	3	considers	consider	VERB
cblr-1719	79	4	different	different	ADJ
cblr-1719	79	5	theories	theory	NOUN
cblr-1719	79	6	and	and	CCONJ
cblr-1719	79	7	empirical	empirical	ADJ
cblr-1719	79	8	studies	study	NOUN
cblr-1719	79	9	of	of	ADP
cblr-1719	79	10	leveraged	leveraged	ADJ
cblr-1719	79	11	control	control	NOUN
cblr-1719	79	12	and	and	CCONJ
cblr-1719	79	13	deviation	deviation	NOUN
cblr-1719	79	14	devices	device	NOUN
cblr-1719	79	15	.	.	PUNCT
cblr-1719	80	1	drawing	draw	VERB
cblr-1719	80	2	on	on	ADP
cblr-1719	80	3	the	the	DET
cblr-1719	80	4	lin	lin	PROPN
cblr-1719	80	5	–	–	PUNCT
cblr-1719	80	6	final	final	ADJ
cblr-1719	80	7	460	460	NUM
cblr-1719	80	8	columbia	columbia	PROPN
cblr-1719	80	9	business	business	NOUN
cblr-1719	80	10	law	law	PROPN
cblr-1719	80	11	review	review	NOUN
cblr-1719	81	1	[	[	X
cblr-1719	81	2	vol	vol	NOUN
cblr-1719	81	3	.	.	PUNCT
cblr-1719	81	4	2017	2017	NUM
cblr-1719	81	5	contractarian	contractarian	ADJ
cblr-1719	81	6	theory	theory	NOUN
cblr-1719	81	7	of	of	ADP
cblr-1719	81	8	the	the	DET
cblr-1719	81	9	firm	firm	NOUN
cblr-1719	81	10	,	,	PUNCT
cblr-1719	81	11	part	part	NOUN
cblr-1719	81	12	iv	iv	NUM
cblr-1719	81	13	differentiates	differentiate	VERB
cblr-1719	81	14	the	the	DET
cblr-1719	81	15	ipo	ipo	NOUN
cblr-1719	81	16	stage	stage	NOUN
cblr-1719	81	17	from	from	ADP
cblr-1719	81	18	the	the	DET
cblr-1719	81	19	midstream	midstream	NOUN
cblr-1719	81	20	stage	stage	NOUN
cblr-1719	81	21	and	and	CCONJ
cblr-1719	81	22	identifies	identify	VERB
cblr-1719	81	23	midstream	midstream	NOUN
cblr-1719	81	24	pro	pro	ADJ
cblr-1719	81	25	-	-	ADJ
cblr-1719	81	26	insider	insider	ADJ
cblr-1719	81	27	distortions	distortion	NOUN
cblr-1719	81	28	.	.	PUNCT
cblr-1719	82	1	part	part	NOUN
cblr-1719	82	2	v	v	NOUN
cblr-1719	82	3	discusses	discuss	VERB
cblr-1719	82	4	regulatory	regulatory	ADJ
cblr-1719	82	5	strategies	strategy	NOUN
cblr-1719	82	6	in	in	ADP
cblr-1719	82	7	governing	govern	VERB
cblr-1719	82	8	such	such	ADJ
cblr-1719	82	9	distortions	distortion	NOUN
cblr-1719	82	10	.	.	PUNCT
cblr-1719	83	1	part	part	NOUN
cblr-1719	83	2	vi	vi	PROPN
cblr-1719	83	3	concludes	conclude	VERB
cblr-1719	83	4	the	the	DET
cblr-1719	83	5	article	article	NOUN
cblr-1719	83	6	.	.	PUNCT
cblr-1719	84	1	ii	ii	PROPN
cblr-1719	84	2	.	.	PUNCT
cblr-1719	85	1	overview	overview	NOUN
cblr-1719	85	2	a.	a.	NOUN
cblr-1719	85	3	the	the	DET
cblr-1719	85	4	practice	practice	NOUN
cblr-1719	85	5	the	the	DET
cblr-1719	85	6	most	most	ADV
cblr-1719	85	7	commonly	commonly	ADV
cblr-1719	85	8	observed	observe	VERB
cblr-1719	85	9	structures	structure	NOUN
cblr-1719	85	10	that	that	PRON
cblr-1719	85	11	create	create	VERB
cblr-1719	85	12	deviations	deviation	NOUN
cblr-1719	85	13	between	between	ADP
cblr-1719	85	14	control	control	NOUN
cblr-1719	85	15	rights	right	NOUN
cblr-1719	85	16	and	and	CCONJ
cblr-1719	85	17	economic	economic	ADJ
cblr-1719	85	18	rights	right	NOUN
cblr-1719	85	19	include	include	VERB
cblr-1719	85	20	multiple	multiple	ADJ
cblr-1719	85	21	voting	voting	NOUN
cblr-1719	85	22	rights	right	NOUN
cblr-1719	85	23	shares	share	NOUN
cblr-1719	85	24	,	,	PUNCT
cblr-1719	85	25	priority	priority	NOUN
cblr-1719	85	26	shares	share	NOUN
cblr-1719	85	27	,	,	PUNCT
cblr-1719	85	28	pyramidal	pyramidal	ADJ
cblr-1719	85	29	structures	structure	NOUN
cblr-1719	85	30	,	,	PUNCT
cblr-1719	85	31	cross	cross	NOUN
cblr-1719	85	32	-	-	NOUN
cblr-1719	85	33	shareholdings	shareholding	NOUN
cblr-1719	85	34	,	,	PUNCT
cblr-1719	85	35	and	and	CCONJ
cblr-1719	85	36	shareholders	shareholder	NOUN
cblr-1719	85	37	’	'	PUNCT
cblr-1719	85	38	agreements.12	agreements.12	NOUN
cblr-1719	85	39	in	in	ADP
cblr-1719	85	40	a	a	DET
cblr-1719	85	41	2007	2007	NUM
cblr-1719	85	42	survey	survey	NOUN
cblr-1719	85	43	(	(	PUNCT
cblr-1719	85	44	“	"	PUNCT
cblr-1719	85	45	eu	eu	PROPN
cblr-1719	85	46	proportionality	proportionality	NOUN
cblr-1719	85	47	report	report	NOUN
cblr-1719	85	48	”	"	PUNCT
cblr-1719	85	49	)	)	PUNCT
cblr-1719	85	50	of	of	ADP
cblr-1719	85	51	464	464	NUM
cblr-1719	85	52	public	public	ADJ
cblr-1719	85	53	companies	company	NOUN
cblr-1719	85	54	in	in	ADP
cblr-1719	85	55	sixteen	sixteen	NUM
cblr-1719	85	56	european	european	PROPN
cblr-1719	85	57	union	union	PROPN
cblr-1719	85	58	member	member	NOUN
cblr-1719	85	59	states	state	NOUN
cblr-1719	85	60	,	,	PUNCT
cblr-1719	85	61	44	44	NUM
cblr-1719	85	62	%	%	NOUN
cblr-1719	85	63	of	of	ADP
cblr-1719	85	64	the	the	DET
cblr-1719	85	65	surveyed	survey	VERB
cblr-1719	85	66	companies	company	NOUN
cblr-1719	85	67	had	have	VERB
cblr-1719	85	68	at	at	ADV
cblr-1719	85	69	least	least	ADV
cblr-1719	85	70	one	one	NUM
cblr-1719	85	71	control	control	NOUN
cblr-1719	85	72	-	-	PUNCT
cblr-1719	85	73	enhancing	enhance	VERB
cblr-1719	85	74	mechanism	mechanism	NOUN
cblr-1719	85	75	.	.	PUNCT
cblr-1719	86	1	13	13	NUM
cblr-1719	86	2	pyramidal	pyramidal	ADJ
cblr-1719	86	3	structure	structure	NOUN
cblr-1719	86	4	,	,	PUNCT
cblr-1719	86	5	multiple	multiple	ADJ
cblr-1719	86	6	voting	voting	NOUN
cblr-1719	86	7	rights	right	NOUN
cblr-1719	86	8	shares	share	NOUN
cblr-1719	86	9	,	,	PUNCT
cblr-1719	86	10	and	and	CCONJ
cblr-1719	86	11	shareholders	shareholder	NOUN
cblr-1719	86	12	’	'	PUNCT
cblr-1719	86	13	agreements	agreement	NOUN
cblr-1719	86	14	are	be	AUX
cblr-1719	86	15	the	the	DET
cblr-1719	86	16	most	most	ADV
cblr-1719	86	17	common	common	ADJ
cblr-1719	86	18	mechanisms	mechanism	NOUN
cblr-1719	86	19	used	use	VERB
cblr-1719	86	20	among	among	ADP
cblr-1719	86	21	european	european	ADJ
cblr-1719	86	22	public	public	ADJ
cblr-1719	86	23	companies	company	NOUN
cblr-1719	86	24	to	to	PART
cblr-1719	86	25	create	create	VERB
cblr-1719	86	26	leveraged	leveraged	ADJ
cblr-1719	86	27	control.14	control.14	NOUN
cblr-1719	86	28	in	in	ADP
cblr-1719	86	29	contrast	contrast	NOUN
cblr-1719	86	30	,	,	PUNCT
cblr-1719	86	31	12	12	NUM
cblr-1719	86	32	multiple	multiple	ADJ
cblr-1719	86	33	voting	voting	NOUN
cblr-1719	86	34	rights	right	NOUN
cblr-1719	86	35	shares	share	NOUN
cblr-1719	86	36	,	,	PUNCT
cblr-1719	86	37	or	or	CCONJ
cblr-1719	86	38	in	in	ADP
cblr-1719	86	39	its	its	PRON
cblr-1719	86	40	most	most	ADV
cblr-1719	86	41	commonly	commonly	ADV
cblr-1719	86	42	seen	see	VERB
cblr-1719	86	43	form	form	NOUN
cblr-1719	86	44	“	"	PUNCT
cblr-1719	86	45	dual	dual	ADJ
cblr-1719	86	46	class	class	NOUN
cblr-1719	86	47	shares	share	NOUN
cblr-1719	86	48	,	,	PUNCT
cblr-1719	86	49	”	"	PUNCT
cblr-1719	86	50	are	be	AUX
cblr-1719	86	51	voting	vote	VERB
cblr-1719	86	52	structures	structure	NOUN
cblr-1719	86	53	where	where	SCONJ
cblr-1719	86	54	two	two	NUM
cblr-1719	86	55	share	share	NOUN
cblr-1719	86	56	classes	class	NOUN
cblr-1719	86	57	are	be	AUX
cblr-1719	86	58	issued	issue	VERB
cblr-1719	86	59	and	and	CCONJ
cblr-1719	86	60	one	one	NUM
cblr-1719	86	61	class	class	NOUN
cblr-1719	86	62	carries	carry	VERB
cblr-1719	86	63	a	a	DET
cblr-1719	86	64	greater	great	ADJ
cblr-1719	86	65	number	number	NOUN
cblr-1719	86	66	of	of	ADP
cblr-1719	86	67	votes	vote	NOUN
cblr-1719	86	68	per	per	ADP
cblr-1719	86	69	share	share	NOUN
cblr-1719	86	70	or	or	CCONJ
cblr-1719	86	71	exclusive	exclusive	ADJ
cblr-1719	86	72	director	director	NOUN
cblr-1719	86	73	election	election	NOUN
cblr-1719	86	74	rights	right	NOUN
cblr-1719	86	75	.	.	PUNCT
cblr-1719	87	1	pyramid	pyramid	NOUN
cblr-1719	87	2	structures	structure	NOUN
cblr-1719	87	3	are	be	AUX
cblr-1719	87	4	defined	define	VERB
cblr-1719	87	5	as	as	ADP
cblr-1719	87	6	owning	own	VERB
cblr-1719	87	7	a	a	DET
cblr-1719	87	8	majority	majority	NOUN
cblr-1719	87	9	of	of	ADP
cblr-1719	87	10	the	the	DET
cblr-1719	87	11	stock	stock	NOUN
cblr-1719	87	12	of	of	ADP
cblr-1719	87	13	one	one	NUM
cblr-1719	87	14	corporation	corporation	NOUN
cblr-1719	87	15	which	which	PRON
cblr-1719	87	16	in	in	ADP
cblr-1719	87	17	turn	turn	NOUN
cblr-1719	87	18	holds	hold	VERB
cblr-1719	87	19	a	a	DET
cblr-1719	87	20	majority	majority	NOUN
cblr-1719	87	21	of	of	ADP
cblr-1719	87	22	the	the	DET
cblr-1719	87	23	stock	stock	NOUN
cblr-1719	87	24	of	of	ADP
cblr-1719	87	25	another	another	DET
cblr-1719	87	26	corporation	corporation	NOUN
cblr-1719	87	27	,	,	PUNCT
cblr-1719	87	28	a	a	DET
cblr-1719	87	29	process	process	NOUN
cblr-1719	87	30	that	that	PRON
cblr-1719	87	31	can	can	AUX
cblr-1719	87	32	be	be	AUX
cblr-1719	87	33	repeated	repeat	VERB
cblr-1719	87	34	a	a	DET
cblr-1719	87	35	number	number	NOUN
cblr-1719	87	36	of	of	ADP
cblr-1719	87	37	times	time	NOUN
cblr-1719	87	38	.	.	PUNCT
cblr-1719	88	1	through	through	ADP
cblr-1719	88	2	pyramid	pyramid	NOUN
cblr-1719	88	3	structures	structure	NOUN
cblr-1719	88	4	,	,	PUNCT
cblr-1719	88	5	controlling	control	VERB
cblr-1719	88	6	shareholders	shareholder	NOUN
cblr-1719	88	7	can	can	AUX
cblr-1719	88	8	control	control	VERB
cblr-1719	88	9	firms	firm	NOUN
cblr-1719	88	10	through	through	ADP
cblr-1719	88	11	a	a	DET
cblr-1719	88	12	chain	chain	NOUN
cblr-1719	88	13	of	of	ADP
cblr-1719	88	14	companies	company	NOUN
cblr-1719	88	15	while	while	SCONJ
cblr-1719	88	16	owning	own	VERB
cblr-1719	88	17	only	only	ADV
cblr-1719	88	18	a	a	DET
cblr-1719	88	19	minority	minority	NOUN
cblr-1719	88	20	of	of	ADP
cblr-1719	88	21	the	the	DET
cblr-1719	88	22	shares	share	NOUN
cblr-1719	88	23	.	.	PUNCT
cblr-1719	89	1	cross	cross	ADJ
cblr-1719	89	2	-	-	ADJ
cblr-1719	89	3	shareholding	shareholding	NOUN
cblr-1719	89	4	means	mean	VERB
cblr-1719	89	5	that	that	SCONJ
cblr-1719	89	6	a	a	DET
cblr-1719	89	7	firm	firm	NOUN
cblr-1719	89	8	owns	own	VERB
cblr-1719	89	9	shares	share	NOUN
cblr-1719	89	10	in	in	ADP
cblr-1719	89	11	another	another	DET
cblr-1719	89	12	firm	firm	NOUN
cblr-1719	89	13	that	that	PRON
cblr-1719	89	14	belongs	belong	VERB
cblr-1719	89	15	to	to	ADP
cblr-1719	89	16	the	the	DET
cblr-1719	89	17	same	same	ADJ
cblr-1719	89	18	business	business	NOUN
cblr-1719	89	19	group	group	NOUN
cblr-1719	89	20	.	.	PUNCT
cblr-1719	90	1	finally	finally	ADV
cblr-1719	90	2	,	,	PUNCT
cblr-1719	90	3	shareholder	shareholder	NOUN
cblr-1719	90	4	voting	voting	NOUN
cblr-1719	90	5	agreements	agreement	NOUN
cblr-1719	90	6	are	be	AUX
cblr-1719	90	7	agreements	agreement	NOUN
cblr-1719	90	8	among	among	ADP
cblr-1719	90	9	certain	certain	ADJ
cblr-1719	90	10	shareholders	shareholder	NOUN
cblr-1719	90	11	to	to	PART
cblr-1719	90	12	vote	vote	VERB
cblr-1719	90	13	in	in	ADP
cblr-1719	90	14	favor	favor	NOUN
cblr-1719	90	15	of	of	ADP
cblr-1719	90	16	the	the	DET
cblr-1719	90	17	director	director	NOUN
cblr-1719	90	18	candidates	candidate	NOUN
cblr-1719	90	19	or	or	CCONJ
cblr-1719	90	20	other	other	ADJ
cblr-1719	90	21	corporate	corporate	ADJ
cblr-1719	90	22	affairs	affair	NOUN
cblr-1719	90	23	proposed	propose	VERB
cblr-1719	90	24	by	by	ADP
cblr-1719	90	25	certain	certain	ADJ
cblr-1719	90	26	shareholders	shareholder	NOUN
cblr-1719	90	27	.	.	PUNCT
cblr-1719	91	1	see	see	VERB
cblr-1719	91	2	rafael	rafael	PROPN
cblr-1719	91	3	la	la	PROPN
cblr-1719	91	4	porta	porta	PROPN
cblr-1719	91	5	,	,	PUNCT
cblr-1719	91	6	florencio	florencio	PROPN
cblr-1719	91	7	lopez	lopez	PROPN
cblr-1719	91	8	-	-	PUNCT
cblr-1719	91	9	de	de	NOUN
cblr-1719	91	10	-	-	NOUN
cblr-1719	91	11	silanes	silane	NOUN
cblr-1719	91	12	&	&	CCONJ
cblr-1719	91	13	andrei	andrei	PROPN
cblr-1719	91	14	shleifer	shleifer	PROPN
cblr-1719	91	15	,	,	PUNCT
cblr-1719	91	16	corporate	corporate	ADJ
cblr-1719	91	17	ownership	ownership	NOUN
cblr-1719	91	18	around	around	ADP
cblr-1719	91	19	the	the	DET
cblr-1719	91	20	world	world	NOUN
cblr-1719	91	21	,	,	PUNCT
cblr-1719	91	22	54	54	NUM
cblr-1719	91	23	j.	j.	PROPN
cblr-1719	91	24	fin	fin	PROPN
cblr-1719	91	25	.	.	PUNCT
cblr-1719	92	1	471	471	NUM
cblr-1719	92	2	,	,	PUNCT
cblr-1719	92	3	498–505	498–505	NUM
cblr-1719	92	4	(	(	PUNCT
cblr-1719	92	5	1999	1999	NUM
cblr-1719	92	6	)	)	PUNCT
cblr-1719	92	7	;	;	PUNCT
cblr-1719	92	8	mara	mara	PROPN
cblr-1719	92	9	faccio	faccio	PROPN
cblr-1719	92	10	&	&	CCONJ
cblr-1719	92	11	larry	larry	PROPN
cblr-1719	92	12	h.p	h.p	PROPN
cblr-1719	92	13	.	.	PROPN
cblr-1719	92	14	lang	lang	PROPN
cblr-1719	92	15	,	,	PUNCT
cblr-1719	92	16	the	the	DET
cblr-1719	92	17	ultimate	ultimate	ADJ
cblr-1719	92	18	ownership	ownership	NOUN
cblr-1719	92	19	of	of	ADP
cblr-1719	92	20	western	western	ADJ
cblr-1719	92	21	european	european	ADJ
cblr-1719	92	22	corporations	corporation	NOUN
cblr-1719	92	23	,	,	PUNCT
cblr-1719	92	24	65	65	NUM
cblr-1719	92	25	j.	j.	PROPN
cblr-1719	92	26	fin	fin	PROPN
cblr-1719	92	27	.	.	PUNCT
cblr-1719	92	28	econ	econ	PROPN
cblr-1719	92	29	.	.	PUNCT
cblr-1719	93	1	365	365	NUM
cblr-1719	93	2	,	,	PUNCT
cblr-1719	93	3	366	366	NUM
cblr-1719	93	4	(	(	PUNCT
cblr-1719	93	5	2002	2002	NUM
cblr-1719	93	6	)	)	PUNCT
cblr-1719	93	7	;	;	PUNCT
cblr-1719	93	8	stijn	stijn	PROPN
cblr-1719	93	9	claessens	claessen	NOUN
cblr-1719	93	10	,	,	PUNCT
cblr-1719	93	11	simeon	simeon	NOUN
cblr-1719	93	12	djankov	djankov	PROPN
cblr-1719	93	13	&	&	CCONJ
cblr-1719	93	14	larry	larry	PROPN
cblr-1719	93	15	h.p	h.p	PROPN
cblr-1719	93	16	.	.	PROPN
cblr-1719	93	17	lang	lang	PROPN
cblr-1719	93	18	,	,	PUNCT
cblr-1719	93	19	the	the	DET
cblr-1719	93	20	separation	separation	NOUN
cblr-1719	93	21	of	of	ADP
cblr-1719	93	22	ownership	ownership	NOUN
cblr-1719	93	23	and	and	CCONJ
cblr-1719	93	24	control	control	NOUN
cblr-1719	93	25	in	in	ADP
cblr-1719	93	26	east	east	ADJ
cblr-1719	93	27	asian	asian	ADJ
cblr-1719	93	28	corporations	corporation	NOUN
cblr-1719	93	29	,	,	PUNCT
cblr-1719	93	30	58	58	NUM
cblr-1719	93	31	j.	j.	PROPN
cblr-1719	93	32	fin	fin	PROPN
cblr-1719	93	33	.	.	PUNCT
cblr-1719	94	1	econ	econ	PROPN
cblr-1719	94	2	.	.	PUNCT
cblr-1719	95	1	81	81	NUM
cblr-1719	95	2	,	,	PUNCT
cblr-1719	95	3	93	93	NUM
cblr-1719	95	4	(	(	PUNCT
cblr-1719	95	5	2000	2000	NUM
cblr-1719	95	6	)	)	PUNCT
cblr-1719	95	7	.	.	PUNCT
cblr-1719	96	1	13	13	NUM
cblr-1719	96	2	iss	iss	X
cblr-1719	96	3	et	et	PROPN
cblr-1719	96	4	al	al	PROPN
cblr-1719	96	5	.	.	PROPN
cblr-1719	96	6	,	,	PUNCT
cblr-1719	96	7	supra	supra	PROPN
cblr-1719	96	8	note	note	PROPN
cblr-1719	96	9	7	7	NUM
cblr-1719	96	10	,	,	PUNCT
cblr-1719	96	11	at	at	ADP
cblr-1719	96	12	24	24	NUM
cblr-1719	96	13	.	.	PUNCT
cblr-1719	96	14	14	14	NUM
cblr-1719	97	1	i	i	PRON
cblr-1719	97	2	d.	d.	PROPN
cblr-1719	97	3	at	at	ADP
cblr-1719	97	4	25	25	NUM
cblr-1719	97	5	.	.	PUNCT
cblr-1719	98	1	lin	lin	PROPN
cblr-1719	98	2	–	–	PUNCT
cblr-1719	98	3	final	final	ADJ
cblr-1719	98	4	no	no	NOUN
cblr-1719	98	5	.	.	PUNCT
cblr-1719	98	6	2:453	2:453	NUM
cblr-1719	98	7	]	]	X
cblr-1719	98	8	controlling	control	VERB
cblr-1719	98	9	-	-	PUNCT
cblr-1719	98	10	minority	minority	NOUN
cblr-1719	98	11	shareholders	shareholder	NOUN
cblr-1719	98	12	461	461	NUM
cblr-1719	98	13	companies	company	NOUN
cblr-1719	98	14	in	in	ADP
cblr-1719	98	15	western	western	PROPN
cblr-1719	98	16	europe	europe	PROPN
cblr-1719	98	17	,	,	PUNCT
cblr-1719	98	18	like	like	ADP
cblr-1719	98	19	sweden	sweden	PROPN
cblr-1719	98	20	,	,	PUNCT
cblr-1719	98	21	switzerland	switzerland	PROPN
cblr-1719	98	22	,	,	PUNCT
cblr-1719	98	23	italy	italy	PROPN
cblr-1719	98	24	,	,	PUNCT
cblr-1719	98	25	and	and	CCONJ
cblr-1719	98	26	finland	finland	PROPN
cblr-1719	98	27	mostly	mostly	ADV
cblr-1719	98	28	use	use	VERB
cblr-1719	98	29	dual	dual	ADJ
cblr-1719	98	30	-	-	PUNCT
cblr-1719	98	31	class	class	NOUN
cblr-1719	98	32	shares	share	NOUN
cblr-1719	98	33	to	to	PART
cblr-1719	98	34	secure	secure	VERB
cblr-1719	98	35	disproportionate	disproportionate	ADJ
cblr-1719	98	36	corporate	corporate	ADJ
cblr-1719	98	37	control.15	control.15	NOUN
cblr-1719	98	38	other	other	ADJ
cblr-1719	98	39	mechanisms	mechanism	NOUN
cblr-1719	98	40	,	,	PUNCT
cblr-1719	98	41	such	such	ADJ
cblr-1719	98	42	as	as	ADP
cblr-1719	98	43	pyramids	pyramid	NOUN
cblr-1719	98	44	and	and	CCONJ
cblr-1719	98	45	cross	cross	NOUN
cblr-1719	98	46	-	-	NOUN
cblr-1719	98	47	shareholding	shareholding	NOUN
cblr-1719	98	48	,	,	PUNCT
cblr-1719	98	49	are	be	AUX
cblr-1719	98	50	less	less	ADV
cblr-1719	98	51	common	common	ADJ
cblr-1719	98	52	in	in	ADP
cblr-1719	98	53	western	western	ADJ
cblr-1719	98	54	europe	europe	PROPN
cblr-1719	98	55	.	.	PUNCT
cblr-1719	99	1	on	on	ADP
cblr-1719	99	2	the	the	DET
cblr-1719	99	3	other	other	ADJ
cblr-1719	99	4	hand	hand	NOUN
cblr-1719	99	5	,	,	PUNCT
cblr-1719	99	6	corporate	corporate	ADJ
cblr-1719	99	7	control	control	NOUN
cblr-1719	99	8	in	in	ADP
cblr-1719	99	9	east	east	ADJ
cblr-1719	99	10	asian	asian	ADJ
cblr-1719	99	11	countries	country	NOUN
cblr-1719	99	12	is	be	AUX
cblr-1719	99	13	typically	typically	ADV
cblr-1719	99	14	enhanced	enhance	VERB
cblr-1719	99	15	by	by	ADP
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cblr-1719	99	20	-	-	NOUN
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cblr-1719	99	22	among	among	ADP
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cblr-1719	99	25	-	-	PUNCT
cblr-1719	99	26	class	class	NOUN
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cblr-1719	99	37	are	be	AUX
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cblr-1719	99	39	in	in	ADP
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cblr-1719	99	42	in	in	ADP
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cblr-1719	99	45	the	the	DET
cblr-1719	99	46	one	one	NUM
cblr-1719	99	47	-	-	PUNCT
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cblr-1719	99	50	-	-	PUNCT
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cblr-1719	99	52	principle.17	principle.17	NOUN
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cblr-1719	99	68	(	(	PUNCT
cblr-1719	99	69	66.9	66.9	NUM
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cblr-1719	99	72	,	,	PUNCT
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cblr-1719	99	74	(	(	PUNCT
cblr-1719	99	75	55	55	NUM
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cblr-1719	99	77	)	)	PUNCT
cblr-1719	99	78	,	,	PUNCT
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cblr-1719	99	80	(	(	PUNCT
cblr-1719	99	81	49	49	NUM
cblr-1719	99	82	%	%	NOUN
cblr-1719	99	83	)	)	PUNCT
cblr-1719	99	84	,	,	PUNCT
cblr-1719	99	85	and	and	CCONJ
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cblr-1719	99	87	(	(	PUNCT
cblr-1719	99	88	42.6	42.6	NUM
cblr-1719	99	89	%	%	NOUN
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cblr-1719	99	91	;	;	PUNCT
cblr-1719	99	92	on	on	ADP
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cblr-1719	99	94	,	,	PUNCT
cblr-1719	99	95	38.7	38.7	NUM
cblr-1719	99	96	%	%	NOUN
cblr-1719	99	97	of	of	ADP
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cblr-1719	99	102	use	use	VERB
cblr-1719	99	103	pyramids	pyramid	NOUN
cblr-1719	99	104	to	to	PART
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cblr-1719	99	106	corporate	corporate	ADJ
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cblr-1719	99	108	in	in	ADP
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cblr-1719	99	111	states	states	PROPN
cblr-1719	99	112	,	,	PUNCT
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cblr-1719	99	114	of	of	ADP
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cblr-1719	99	120	.	.	PUNCT
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cblr-1719	100	4	%	%	NOUN
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cblr-1719	100	10	are	be	AUX
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cblr-1719	100	21	u.s	u.s	PROPN
cblr-1719	100	22	.	.	PROPN
cblr-1719	100	23	public	public	ADJ
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cblr-1719	100	25	66.07	66.07	NUM
cblr-1719	100	26	%	%	NOUN
cblr-1719	100	27	,	,	PUNCT
cblr-1719	100	28	51.17	51.17	NUM
cblr-1719	100	29	%	%	NOUN
cblr-1719	100	30	,	,	PUNCT
cblr-1719	100	31	41.35	41.35	NUM
cblr-1719	100	32	%	%	NOUN
cblr-1719	100	33	,	,	PUNCT
cblr-1719	100	34	and	and	CCONJ
cblr-1719	100	35	37.6	37.6	NUM
cblr-1719	100	36	%	%	NOUN
cblr-1719	100	37	of	of	ADP
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cblr-1719	100	40	in	in	ADP
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cblr-1719	100	42	,	,	PUNCT
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cblr-1719	100	44	,	,	PUNCT
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cblr-1719	100	46	,	,	PUNCT
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cblr-1719	100	55	.	.	PUNCT
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cblr-1719	102	2	,	,	PUNCT
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cblr-1719	102	4	-	-	SYM
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cblr-1719	102	6	(	(	PUNCT
cblr-1719	102	7	2002	2002	NUM
cblr-1719	102	8	)	)	PUNCT
cblr-1719	102	9	.	.	PUNCT
cblr-1719	103	1	16	16	NUM
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cblr-1719	103	8	note	note	PROPN
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cblr-1719	104	16	-	-	PUNCT
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cblr-1719	104	22	-	-	PUNCT
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cblr-1719	104	26	.	.	PUNCT
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cblr-1719	105	10	-	-	PUNCT
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cblr-1719	108	1	[	[	X
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cblr-1719	115	16	public	public	ADJ
cblr-1719	115	17	companies	company	NOUN
cblr-1719	115	18	tend	tend	VERB
cblr-1719	115	19	to	to	PART
cblr-1719	115	20	use	use	VERB
cblr-1719	115	21	to	to	PART
cblr-1719	115	22	create	create	VERB
cblr-1719	115	23	leveraged	leveraged	ADJ
cblr-1719	115	24	control	control	NOUN
cblr-1719	115	25	is	be	AUX
cblr-1719	115	26	dual	dual	ADJ
cblr-1719	115	27	-	-	PUNCT
cblr-1719	115	28	class	class	NOUN
cblr-1719	115	29	shares	share	NOUN
cblr-1719	115	30	.	.	PUNCT
cblr-1719	116	1	a	a	DET
cblr-1719	116	2	study	study	NOUN
cblr-1719	116	3	on	on	ADP
cblr-1719	116	4	u.s	u.s	PROPN
cblr-1719	116	5	.	.	PROPN
cblr-1719	116	6	public	public	ADJ
cblr-1719	116	7	firms	firm	NOUN
cblr-1719	116	8	reveals	reveal	VERB
cblr-1719	116	9	that	that	SCONJ
cblr-1719	116	10	70	70	NUM
cblr-1719	116	11	%	%	NOUN
cblr-1719	116	12	of	of	ADP
cblr-1719	116	13	the	the	DET
cblr-1719	116	14	controlled	control	VERB
cblr-1719	116	15	firms	firm	NOUN
cblr-1719	116	16	feature	feature	VERB
cblr-1719	116	17	a	a	DET
cblr-1719	116	18	dual	dual	ADJ
cblr-1719	116	19	-	-	PUNCT
cblr-1719	116	20	class	class	NOUN
cblr-1719	116	21	voting	voting	NOUN
cblr-1719	116	22	structure	structure	NOUN
cblr-1719	116	23	or	or	CCONJ
cblr-1719	116	24	attach	attach	VERB
cblr-1719	116	25	special	special	ADJ
cblr-1719	116	26	rights	right	NOUN
cblr-1719	116	27	to	to	ADP
cblr-1719	116	28	specific	specific	ADJ
cblr-1719	116	29	shareholders.21	shareholders.21	NOUN
cblr-1719	116	30	a	a	DET
cblr-1719	116	31	comprehensive	comprehensive	ADJ
cblr-1719	116	32	study	study	NOUN
cblr-1719	116	33	of	of	ADP
cblr-1719	116	34	u.s	u.s	PROPN
cblr-1719	116	35	.	.	PROPN
cblr-1719	116	36	public	public	ADJ
cblr-1719	116	37	companies	company	NOUN
cblr-1719	116	38	carried	carry	VERB
cblr-1719	116	39	out	out	ADP
cblr-1719	116	40	by	by	ADP
cblr-1719	116	41	gompers	gomper	NOUN
cblr-1719	116	42	,	,	PUNCT
cblr-1719	116	43	ishii	ishii	PROPN
cblr-1719	116	44	,	,	PUNCT
cblr-1719	116	45	and	and	CCONJ
cblr-1719	116	46	metrick	metrick	NOUN
cblr-1719	116	47	shows	show	VERB
cblr-1719	116	48	that	that	SCONJ
cblr-1719	116	49	around	around	ADV
cblr-1719	116	50	6	6	NUM
cblr-1719	116	51	%	%	NOUN
cblr-1719	116	52	have	have	VERB
cblr-1719	116	53	dualor	dualor	VERB
cblr-1719	116	54	multi	multi	ADJ
cblr-1719	116	55	-	-	ADJ
cblr-1719	116	56	class	class	ADJ
cblr-1719	116	57	shares	share	NOUN
cblr-1719	116	58	,	,	PUNCT
cblr-1719	116	59	comprising	comprise	VERB
cblr-1719	116	60	approximately	approximately	ADV
cblr-1719	116	61	8	8	NUM
cblr-1719	116	62	%	%	NOUN
cblr-1719	116	63	of	of	ADP
cblr-1719	116	64	the	the	DET
cblr-1719	116	65	market	market	NOUN
cblr-1719	116	66	capitalization	capitalization	NOUN
cblr-1719	116	67	of	of	ADP
cblr-1719	116	68	all	all	DET
cblr-1719	116	69	firms.22	firms.22	NOUN
cblr-1719	116	70	although	although	SCONJ
cblr-1719	116	71	the	the	DET
cblr-1719	116	72	initial	initial	ADJ
cblr-1719	116	73	number	number	NOUN
cblr-1719	116	74	was	be	AUX
cblr-1719	116	75	not	not	PART
cblr-1719	116	76	large	large	ADJ
cblr-1719	116	77	,	,	PUNCT
cblr-1719	116	78	it	it	PRON
cblr-1719	116	79	has	have	AUX
cblr-1719	116	80	increased	increase	VERB
cblr-1719	116	81	in	in	ADP
cblr-1719	116	82	recent	recent	ADJ
cblr-1719	116	83	years	year	NOUN
cblr-1719	116	84	along	along	ADP
cblr-1719	116	85	with	with	ADP
cblr-1719	116	86	the	the	DET
cblr-1719	116	87	growing	grow	VERB
cblr-1719	116	88	number	number	NOUN
cblr-1719	116	89	of	of	ADP
cblr-1719	116	90	u.s	u.s	PROPN
cblr-1719	116	91	.	.	PROPN
cblr-1719	116	92	technology	technology	NOUN
cblr-1719	116	93	firms	firm	NOUN
cblr-1719	116	94	going	go	VERB
cblr-1719	116	95	public	public	ADJ
cblr-1719	116	96	with	with	ADP
cblr-1719	116	97	dual	dual	ADJ
cblr-1719	116	98	-	-	PUNCT
cblr-1719	116	99	class	class	NOUN
cblr-1719	116	100	share	share	NOUN
cblr-1719	116	101	structures	structure	NOUN
cblr-1719	116	102	.	.	PUNCT
cblr-1719	117	1	the	the	DET
cblr-1719	117	2	percentage	percentage	NOUN
cblr-1719	117	3	of	of	ADP
cblr-1719	117	4	new	new	ADJ
cblr-1719	117	5	ipo	ipo	NOUN
cblr-1719	117	6	firms	firm	NOUN
cblr-1719	117	7	adopting	adopt	VERB
cblr-1719	117	8	dualclass	dualclass	NOUN
cblr-1719	117	9	shares	share	NOUN
cblr-1719	117	10	in	in	ADP
cblr-1719	117	11	the	the	DET
cblr-1719	117	12	u.s	u.s	PROPN
cblr-1719	117	13	.	.	PROPN
cblr-1719	117	14	rose	rise	VERB
cblr-1719	117	15	from	from	ADP
cblr-1719	117	16	8	8	NUM
cblr-1719	117	17	%	%	NOUN
cblr-1719	117	18	in	in	ADP
cblr-1719	117	19	2008	2008	NUM
cblr-1719	117	20	to	to	ADP
cblr-1719	117	21	28	28	NUM
cblr-1719	117	22	%	%	NOUN
cblr-1719	117	23	in	in	ADP
cblr-1719	117	24	2013.23	2013.23	NUM
cblr-1719	117	25	b.	b.	PROPN
cblr-1719	117	26	regulatory	regulatory	ADJ
cblr-1719	117	27	framework	framework	NOUN
cblr-1719	117	28	over	over	ADP
cblr-1719	117	29	the	the	DET
cblr-1719	117	30	past	past	ADJ
cblr-1719	117	31	century	century	NOUN
cblr-1719	117	32	,	,	PUNCT
cblr-1719	117	33	both	both	CCONJ
cblr-1719	117	34	at	at	ADP
cblr-1719	117	35	the	the	DET
cblr-1719	117	36	national	national	ADJ
cblr-1719	117	37	and	and	CCONJ
cblr-1719	117	38	regional	regional	ADJ
cblr-1719	117	39	levels	level	NOUN
cblr-1719	117	40	,	,	PUNCT
cblr-1719	117	41	there	there	PRON
cblr-1719	117	42	have	have	AUX
cblr-1719	117	43	been	be	AUX
cblr-1719	117	44	several	several	ADJ
cblr-1719	117	45	fruitful	fruitful	ADJ
cblr-1719	117	46	policy	policy	NOUN
cblr-1719	117	47	debates	debate	NOUN
cblr-1719	117	48	over	over	ADP
cblr-1719	117	49	how	how	SCONJ
cblr-1719	117	50	and	and	CCONJ
cblr-1719	117	51	whether	whether	SCONJ
cblr-1719	117	52	to	to	PART
cblr-1719	117	53	regulate	regulate	VERB
cblr-1719	117	54	mechanisms	mechanism	NOUN
cblr-1719	117	55	that	that	PRON
cblr-1719	117	56	create	create	VERB
cblr-1719	117	57	deviations	deviation	NOUN
cblr-1719	117	58	between	between	ADP
cblr-1719	117	59	ownership	ownership	NOUN
cblr-1719	117	60	and	and	CCONJ
cblr-1719	117	61	control	control	NOUN
cblr-1719	117	62	.	.	PUNCT
cblr-1719	118	1	24	24	NUM
cblr-1719	118	2	due	due	ADP
cblr-1719	118	3	to	to	ADP
cblr-1719	118	4	the	the	DET
cblr-1719	118	5	20	20	NUM
cblr-1719	118	6	eugene	eugene	PROPN
cblr-1719	118	7	kandel	kandel	PROPN
cblr-1719	118	8	et	et	PROPN
cblr-1719	118	9	al	al	PROPN
cblr-1719	118	10	.	.	PROPN
cblr-1719	118	11	,	,	PUNCT
cblr-1719	118	12	the	the	DET
cblr-1719	118	13	great	great	ADJ
cblr-1719	118	14	pyramids	pyramid	NOUN
cblr-1719	118	15	of	of	ADP
cblr-1719	118	16	america	america	PROPN
cblr-1719	118	17	:	:	PUNCT
cblr-1719	118	18	a	a	DET
cblr-1719	118	19	revised	revise	VERB
cblr-1719	118	20	history	history	NOUN
cblr-1719	118	21	of	of	ADP
cblr-1719	118	22	u.s	u.s	PROPN
cblr-1719	118	23	.	.	PROPN
cblr-1719	118	24	business	business	NOUN
cblr-1719	118	25	groups	group	NOUN
cblr-1719	118	26	,	,	PUNCT
cblr-1719	118	27	corporate	corporate	ADJ
cblr-1719	118	28	ownership	ownership	NOUN
cblr-1719	118	29	and	and	CCONJ
cblr-1719	118	30	regulation	regulation	NOUN
cblr-1719	118	31	2–7	2–7	PROPN
cblr-1719	118	32	(	(	PUNCT
cblr-1719	118	33	nat’l	nat’l	NUM
cblr-1719	118	34	bureau	bureau	PROPN
cblr-1719	118	35	of	of	ADP
cblr-1719	118	36	econ	econ	PROPN
cblr-1719	118	37	,	,	PUNCT
cblr-1719	118	38	research	research	NOUN
cblr-1719	118	39	,	,	PUNCT
cblr-1719	118	40	working	working	NOUN
cblr-1719	118	41	paper	paper	NOUN
cblr-1719	118	42	no	no	NOUN
cblr-1719	118	43	.	.	PROPN
cblr-1719	118	44	19691	19691	NUM
cblr-1719	118	45	,	,	PUNCT
cblr-1719	118	46	2013	2013	NUM
cblr-1719	118	47	)	)	PUNCT
cblr-1719	118	48	.	.	PUNCT
cblr-1719	119	1	21	21	NUM
cblr-1719	119	2	as	as	ADP
cblr-1719	119	3	of	of	ADP
cblr-1719	119	4	2012	2012	NUM
cblr-1719	119	5	,	,	PUNCT
cblr-1719	119	6	79	79	NUM
cblr-1719	119	7	out	out	ADP
cblr-1719	119	8	of	of	ADP
cblr-1719	119	9	114	114	NUM
cblr-1719	119	10	controlled	control	VERB
cblr-1719	119	11	firms	firm	NOUN
cblr-1719	119	12	in	in	ADP
cblr-1719	119	13	the	the	DET
cblr-1719	119	14	s&p	s&p	PROPN
cblr-1719	119	15	1500	1500	NUM
cblr-1719	119	16	composite	composite	NOUN
cblr-1719	119	17	featured	feature	VERB
cblr-1719	119	18	multiclass	multiclass	ADJ
cblr-1719	119	19	capital	capital	NOUN
cblr-1719	119	20	structures	structure	NOUN
cblr-1719	119	21	with	with	ADP
cblr-1719	119	22	unequal	unequal	ADJ
cblr-1719	119	23	voting	voting	NOUN
cblr-1719	119	24	rights	right	NOUN
cblr-1719	119	25	.	.	PUNCT
cblr-1719	120	1	irrc	irrc	PROPN
cblr-1719	120	2	institute	institute	PROPN
cblr-1719	120	3	&	&	CCONJ
cblr-1719	120	4	iss	iss	PROPN
cblr-1719	120	5	,	,	PUNCT
cblr-1719	120	6	supra	supra	PROPN
cblr-1719	120	7	note	note	PROPN
cblr-1719	120	8	19	19	NUM
cblr-1719	120	9	,	,	PUNCT
cblr-1719	120	10	at	at	ADP
cblr-1719	120	11	3	3	NUM
cblr-1719	120	12	.	.	NOUN
cblr-1719	120	13	22	22	NUM
cblr-1719	120	14	gompers	gomper	NOUN
cblr-1719	120	15	et	et	PROPN
cblr-1719	120	16	al	al	PROPN
cblr-1719	120	17	.	.	PROPN
cblr-1719	120	18	,	,	PUNCT
cblr-1719	120	19	supra	supra	PROPN
cblr-1719	120	20	note	note	PROPN
cblr-1719	120	21	8	8	NUM
cblr-1719	120	22	,	,	PUNCT
cblr-1719	120	23	at	at	ADP
cblr-1719	120	24	1053	1053	NUM
cblr-1719	120	25	.	.	PUNCT
cblr-1719	121	1	23	23	NUM
cblr-1719	121	2	sandler	sandler	PROPN
cblr-1719	121	3	&	&	CCONJ
cblr-1719	121	4	hall	hall	PROPN
cblr-1719	121	5	,	,	PUNCT
cblr-1719	121	6	supra	supra	PROPN
cblr-1719	121	7	note	note	NOUN
cblr-1719	121	8	9	9	NUM
cblr-1719	121	9	,	,	PUNCT
cblr-1719	121	10	at	at	ADP
cblr-1719	121	11	18	18	NUM
cblr-1719	121	12	.	.	PUNCT
cblr-1719	121	13	24	24	NUM
cblr-1719	121	14	see	see	VERB
cblr-1719	121	15	generally	generally	ADV
cblr-1719	121	16	high	high	ADJ
cblr-1719	121	17	level	level	NOUN
cblr-1719	121	18	group	group	NOUN
cblr-1719	121	19	of	of	ADP
cblr-1719	121	20	company	company	NOUN
cblr-1719	121	21	law	law	NOUN
cblr-1719	121	22	experts	expert	NOUN
cblr-1719	121	23	,	,	PUNCT
cblr-1719	121	24	report	report	NOUN
cblr-1719	121	25	of	of	ADP
cblr-1719	121	26	the	the	DET
cblr-1719	121	27	high	high	ADJ
cblr-1719	121	28	level	level	NOUN
cblr-1719	121	29	group	group	NOUN
cblr-1719	121	30	of	of	ADP
cblr-1719	121	31	company	company	NOUN
cblr-1719	121	32	law	law	NOUN
cblr-1719	121	33	experts	expert	NOUN
cblr-1719	121	34	on	on	ADP
cblr-1719	121	35	issues	issue	NOUN
cblr-1719	121	36	related	relate	VERB
cblr-1719	121	37	to	to	ADP
cblr-1719	121	38	takeover	takeover	NOUN
cblr-1719	121	39	bids	bid	NOUN
cblr-1719	121	40	(	(	PUNCT
cblr-1719	121	41	2002	2002	NUM
cblr-1719	121	42	)	)	PUNCT
cblr-1719	121	43	,	,	PUNCT
cblr-1719	121	44	http://ec.europa.eu/internal_market/company/	http://ec.europa.eu/internal_market/company/	ADJ
cblr-1719	121	45	docs	doc	NOUN
cblr-1719	121	46	/	/	SYM
cblr-1719	121	47	takeoverbids/2002	takeoverbids/2002	NOUN
cblr-1719	121	48	-	-	PUNCT
cblr-1719	121	49	01	01	NUM
cblr-1719	121	50	-	-	PUNCT
cblr-1719	121	51	hlg	hlg	NOUN
cblr-1719	121	52	-	-	PUNCT
cblr-1719	121	53	report_en.pdf	report_en.pdf	ADJ
cblr-1719	121	54	[	[	X
cblr-1719	121	55	https://perma.cc/39hqhp52	https://perma.cc/39hqhp52	X
cblr-1719	121	56	]	]	X
cblr-1719	121	57	;	;	PUNCT
cblr-1719	121	58	commission	commission	NOUN
cblr-1719	121	59	of	of	ADP
cblr-1719	121	60	the	the	DET
cblr-1719	121	61	european	european	PROPN
cblr-1719	121	62	communities	community	NOUN
cblr-1719	121	63	,	,	PUNCT
cblr-1719	121	64	impact	impact	NOUN
cblr-1719	121	65	assessment	assessment	NOUN
cblr-1719	121	66	on	on	ADP
cblr-1719	121	67	the	the	DET
cblr-1719	121	68	proportionality	proportionality	NOUN
cblr-1719	121	69	between	between	ADP
cblr-1719	121	70	capital	capital	NOUN
cblr-1719	121	71	and	and	CCONJ
cblr-1719	121	72	control	control	NOUN
cblr-1719	121	73	in	in	ADP
cblr-1719	121	74	listed	list	VERB
cblr-1719	121	75	companies	company	NOUN
cblr-1719	121	76	(	(	PUNCT
cblr-1719	121	77	2007	2007	NUM
cblr-1719	121	78	)	)	PUNCT
cblr-1719	121	79	,	,	PUNCT
cblr-1719	121	80	http://ec.europa.eu/internal_market/company/	http://ec.europa.eu/internal_market/company/	ADJ
cblr-1719	121	81	docs	doc	NOUN
cblr-1719	121	82	/	/	SYM
cblr-1719	121	83	shareholders	shareholder	NOUN
cblr-1719	121	84	/	/	SYM
cblr-1719	121	85	impact_assessment_122007.pdf	impact_assessment_122007.pdf	PROPN
cblr-1719	122	1	[	[	X
cblr-1719	122	2	https://perma.cc/bmf4rpde	https://perma.cc/bmf4rpde	NOUN
cblr-1719	122	3	]	]	X
cblr-1719	122	4	;	;	PUNCT
cblr-1719	122	5	oecd	oecd	PROPN
cblr-1719	122	6	steering	steering	NOUN
cblr-1719	122	7	group	group	NOUN
cblr-1719	122	8	on	on	ADP
cblr-1719	122	9	corporate	corporate	ADJ
cblr-1719	122	10	governance	governance	NOUN
cblr-1719	122	11	,	,	PUNCT
cblr-1719	122	12	lack	lack	NOUN
cblr-1719	122	13	of	of	ADP
cblr-1719	122	14	proportionality	proportionality	NOUN
cblr-1719	122	15	between	between	ADP
cblr-1719	122	16	ownership	ownership	NOUN
cblr-1719	122	17	and	and	CCONJ
cblr-1719	122	18	control	control	NOUN
cblr-1719	122	19	:	:	PUNCT
cblr-1719	122	20	overview	overview	NOUN
cblr-1719	122	21	and	and	CCONJ
cblr-1719	122	22	lin	lin	PROPN
cblr-1719	122	23	–	–	PUNCT
cblr-1719	122	24	final	final	ADJ
cblr-1719	122	25	no	no	NOUN
cblr-1719	122	26	.	.	PUNCT
cblr-1719	123	1	2:453	2:453	NUM
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cblr-1719	123	3	controlling	control	VERB
cblr-1719	123	4	-	-	PUNCT
cblr-1719	123	5	minority	minority	NOUN
cblr-1719	123	6	shareholders	shareholder	NOUN
cblr-1719	123	7	463	463	NUM
cblr-1719	123	8	complexity	complexity	NOUN
cblr-1719	123	9	of	of	ADP
cblr-1719	123	10	the	the	DET
cblr-1719	123	11	issues	issue	NOUN
cblr-1719	123	12	involved	involve	VERB
cblr-1719	123	13	and	and	CCONJ
cblr-1719	123	14	the	the	DET
cblr-1719	123	15	fact	fact	NOUN
cblr-1719	123	16	that	that	SCONJ
cblr-1719	123	17	each	each	DET
cblr-1719	123	18	jurisdiction	jurisdiction	NOUN
cblr-1719	123	19	operates	operate	VERB
cblr-1719	123	20	within	within	ADP
cblr-1719	123	21	very	very	ADV
cblr-1719	123	22	different	different	ADJ
cblr-1719	123	23	corporate	corporate	ADJ
cblr-1719	123	24	and	and	CCONJ
cblr-1719	123	25	regulatory	regulatory	ADJ
cblr-1719	123	26	environments	environment	NOUN
cblr-1719	123	27	,	,	PUNCT
cblr-1719	123	28	the	the	DET
cblr-1719	123	29	regulatory	regulatory	ADJ
cblr-1719	123	30	responses	response	NOUN
cblr-1719	123	31	to	to	ADP
cblr-1719	123	32	such	such	ADJ
cblr-1719	123	33	mechanisms	mechanism	NOUN
cblr-1719	123	34	seem	seem	VERB
cblr-1719	123	35	drastically	drastically	ADV
cblr-1719	123	36	different	different	ADJ
cblr-1719	123	37	.	.	PUNCT
cblr-1719	124	1	the	the	DET
cblr-1719	124	2	2007	2007	NUM
cblr-1719	124	3	eu	eu	PROPN
cblr-1719	124	4	proportionality	proportionality	NOUN
cblr-1719	124	5	report	report	NOUN
cblr-1719	124	6	showed	show	VERB
cblr-1719	124	7	that	that	SCONJ
cblr-1719	124	8	pyramidal	pyramidal	ADJ
cblr-1719	124	9	structure	structure	NOUN
cblr-1719	124	10	,	,	PUNCT
cblr-1719	124	11	cross	cross	NOUN
cblr-1719	124	12	-	-	ADJ
cblr-1719	124	13	shareholding	shareholding	NOUN
cblr-1719	124	14	,	,	PUNCT
cblr-1719	124	15	and	and	CCONJ
cblr-1719	124	16	shareholders	shareholder	NOUN
cblr-1719	124	17	’	'	PUNCT
cblr-1719	124	18	agreements	agreement	NOUN
cblr-1719	124	19	are	be	AUX
cblr-1719	124	20	available	available	ADJ
cblr-1719	124	21	in	in	ADP
cblr-1719	124	22	all	all	PRON
cblr-1719	124	23	of	of	ADP
cblr-1719	124	24	the	the	DET
cblr-1719	124	25	surveyed	survey	VERB
cblr-1719	124	26	countries	country	NOUN
cblr-1719	124	27	whereas	whereas	SCONJ
cblr-1719	124	28	multiple	multiple	ADJ
cblr-1719	124	29	voting	voting	NOUN
cblr-1719	124	30	rights	right	NOUN
cblr-1719	124	31	shares	share	NOUN
cblr-1719	124	32	are	be	AUX
cblr-1719	124	33	only	only	ADV
cblr-1719	124	34	available	available	ADJ
cblr-1719	124	35	in	in	ADP
cblr-1719	124	36	53	53	NUM
cblr-1719	124	37	%	%	NOUN
cblr-1719	124	38	of	of	ADP
cblr-1719	124	39	them.25	them.25	NOUN
cblr-1719	124	40	the	the	DET
cblr-1719	124	41	regulatory	regulatory	ADJ
cblr-1719	124	42	framework	framework	NOUN
cblr-1719	124	43	varies	vary	VERB
cblr-1719	124	44	drastically	drastically	ADV
cblr-1719	124	45	for	for	ADP
cblr-1719	124	46	other	other	ADJ
cblr-1719	124	47	mechanisms	mechanism	NOUN
cblr-1719	124	48	that	that	PRON
cblr-1719	124	49	restrict	restrict	VERB
cblr-1719	124	50	or	or	CCONJ
cblr-1719	124	51	empower	empower	VERB
cblr-1719	124	52	certain	certain	ADJ
cblr-1719	124	53	types	type	NOUN
cblr-1719	124	54	of	of	ADP
cblr-1719	124	55	shares	share	NOUN
cblr-1719	124	56	or	or	CCONJ
cblr-1719	124	57	specific	specific	ADJ
cblr-1719	124	58	shareholders.26	shareholders.26	NOUN
cblr-1719	124	59	in	in	ADP
cblr-1719	124	60	this	this	DET
cblr-1719	124	61	section	section	NOUN
cblr-1719	124	62	,	,	PUNCT
cblr-1719	124	63	the	the	DET
cblr-1719	124	64	article	article	NOUN
cblr-1719	124	65	highlights	highlight	VERB
cblr-1719	124	66	three	three	NUM
cblr-1719	124	67	broader	broad	ADJ
cblr-1719	124	68	global	global	ADJ
cblr-1719	124	69	regulatory	regulatory	ADJ
cblr-1719	124	70	trends	trend	NOUN
cblr-1719	124	71	with	with	ADP
cblr-1719	124	72	respect	respect	NOUN
cblr-1719	124	73	to	to	ADP
cblr-1719	124	74	deviation	deviation	NOUN
cblr-1719	124	75	devices	device	NOUN
cblr-1719	124	76	:	:	PUNCT
cblr-1719	124	77	no	no	DET
cblr-1719	124	78	consolidated	consolidated	ADJ
cblr-1719	124	79	view	view	NOUN
cblr-1719	124	80	at	at	ADP
cblr-1719	124	81	the	the	DET
cblr-1719	124	82	regional	regional	ADJ
cblr-1719	124	83	level	level	NOUN
cblr-1719	124	84	,	,	PUNCT
cblr-1719	124	85	divergent	divergent	ADJ
cblr-1719	124	86	regulatory	regulatory	ADJ
cblr-1719	124	87	policies	policy	NOUN
cblr-1719	124	88	towards	towards	ADP
cblr-1719	124	89	dualclass	dualclass	NOUN
cblr-1719	124	90	shares	share	NOUN
cblr-1719	124	91	,	,	PUNCT
cblr-1719	124	92	and	and	CCONJ
cblr-1719	124	93	the	the	DET
cblr-1719	124	94	promotion	promotion	NOUN
cblr-1719	124	95	of	of	ADP
cblr-1719	124	96	long	long	ADJ
cblr-1719	124	97	-	-	PUNCT
cblr-1719	124	98	term	term	NOUN
cblr-1719	124	99	investments	investment	NOUN
cblr-1719	124	100	through	through	ADP
cblr-1719	124	101	time	time	NOUN
cblr-1719	124	102	-	-	PUNCT
cblr-1719	124	103	phased	phase	VERB
cblr-1719	124	104	voting	voting	NOUN
cblr-1719	124	105	.	.	PUNCT
cblr-1719	125	1	1	1	X
cblr-1719	125	2	.	.	X
cblr-1719	125	3	no	no	DET
cblr-1719	125	4	consolidated	consolidated	ADJ
cblr-1719	125	5	view	view	NOUN
cblr-1719	125	6	at	at	ADP
cblr-1719	125	7	the	the	DET
cblr-1719	125	8	regional	regional	ADJ
cblr-1719	125	9	level	level	NOUN
cblr-1719	125	10	the	the	DET
cblr-1719	125	11	european	european	PROPN
cblr-1719	125	12	commission	commission	PROPN
cblr-1719	125	13	initiated	initiate	VERB
cblr-1719	125	14	the	the	DET
cblr-1719	125	15	most	most	ADV
cblr-1719	125	16	recent	recent	ADJ
cblr-1719	125	17	regional	regional	ADJ
cblr-1719	125	18	policy	policy	NOUN
cblr-1719	125	19	debate	debate	NOUN
cblr-1719	125	20	.	.	PUNCT
cblr-1719	126	1	according	accord	VERB
cblr-1719	126	2	to	to	ADP
cblr-1719	126	3	its	its	PRON
cblr-1719	126	4	2002	2002	NUM
cblr-1719	126	5	report	report	NOUN
cblr-1719	126	6	of	of	ADP
cblr-1719	126	7	the	the	DET
cblr-1719	126	8	high	high	ADJ
cblr-1719	126	9	level	level	NOUN
cblr-1719	126	10	group	group	NOUN
cblr-1719	126	11	of	of	ADP
cblr-1719	126	12	company	company	NOUN
cblr-1719	126	13	law	law	NOUN
cblr-1719	126	14	experts	expert	NOUN
cblr-1719	126	15	on	on	ADP
cblr-1719	126	16	issues	issue	NOUN
cblr-1719	126	17	related	relate	VERB
cblr-1719	126	18	to	to	ADP
cblr-1719	126	19	takeover	takeover	NOUN
cblr-1719	126	20	bids	bid	NOUN
cblr-1719	126	21	(	(	PUNCT
cblr-1719	126	22	the	the	DET
cblr-1719	126	23	“	"	PUNCT
cblr-1719	126	24	winter	winter	NOUN
cblr-1719	126	25	group	group	NOUN
cblr-1719	126	26	report”),27	report”),27	VERB
cblr-1719	126	27	the	the	DET
cblr-1719	126	28	issue	issue	NOUN
cblr-1719	126	29	of	of	ADP
cblr-1719	126	30	proportionality	proportionality	NOUN
cblr-1719	126	31	between	between	ADP
cblr-1719	126	32	equity	equity	NOUN
cblr-1719	126	33	ownership	ownership	NOUN
cblr-1719	126	34	and	and	CCONJ
cblr-1719	126	35	control	control	NOUN
cblr-1719	126	36	was	be	AUX
cblr-1719	126	37	brought	bring	VERB
cblr-1719	126	38	up	up	ADP
cblr-1719	126	39	with	with	ADP
cblr-1719	126	40	the	the	DET
cblr-1719	126	41	idea	idea	NOUN
cblr-1719	126	42	of	of	ADP
cblr-1719	126	43	exploring	explore	VERB
cblr-1719	126	44	the	the	DET
cblr-1719	126	45	possibility	possibility	NOUN
cblr-1719	126	46	of	of	ADP
cblr-1719	126	47	harmonizing	harmonize	VERB
cblr-1719	126	48	european	european	ADJ
cblr-1719	126	49	company	company	NOUN
cblr-1719	126	50	law	law	NOUN
cblr-1719	126	51	.	.	PUNCT
cblr-1719	127	1	hence	hence	ADV
cblr-1719	127	2	,	,	PUNCT
cblr-1719	127	3	the	the	DET
cblr-1719	127	4	commission	commission	NOUN
cblr-1719	127	5	was	be	AUX
cblr-1719	127	6	considering	consider	VERB
cblr-1719	127	7	implementing	implement	VERB
cblr-1719	127	8	the	the	DET
cblr-1719	127	9	one	one	NUM
cblr-1719	127	10	-	-	PUNCT
cblr-1719	127	11	share	share	NOUN
cblr-1719	127	12	one	one	NUM
cblr-1719	127	13	-	-	PUNCT
cblr-1719	127	14	vote	vote	NOUN
cblr-1719	127	15	rule	rule	NOUN
cblr-1719	127	16	across	across	ADP
cblr-1719	127	17	europe	europe	PROPN
cblr-1719	127	18	.	.	PUNCT
cblr-1719	128	1	specifically	specifically	ADV
cblr-1719	128	2	,	,	PUNCT
cblr-1719	128	3	the	the	DET
cblr-1719	128	4	winter	winter	NOUN
cblr-1719	128	5	group	group	NOUN
cblr-1719	128	6	report	report	NOUN
cblr-1719	128	7	states	state	VERB
cblr-1719	128	8	that	that	SCONJ
cblr-1719	128	9	:	:	PUNCT
cblr-1719	128	10	[	[	X
cblr-1719	128	11	p]roportionality	p]roportionality	NOUN
cblr-1719	128	12	between	between	ADP
cblr-1719	128	13	ultimate	ultimate	ADJ
cblr-1719	128	14	economic	economic	ADJ
cblr-1719	128	15	risk	risk	NOUN
cblr-1719	128	16	and	and	CCONJ
cblr-1719	128	17	control	control	NOUN
cblr-1719	128	18	means	mean	VERB
cblr-1719	128	19	that	that	SCONJ
cblr-1719	128	20	share	share	NOUN
cblr-1719	128	21	capital	capital	NOUN
cblr-1719	128	22	which	which	PRON
cblr-1719	128	23	has	have	VERB
cblr-1719	128	24	an	an	DET
cblr-1719	128	25	issues	issue	NOUN
cblr-1719	128	26	for	for	ADP
cblr-1719	128	27	discussion	discussion	NOUN
cblr-1719	128	28	(	(	PUNCT
cblr-1719	128	29	2007	2007	NUM
cblr-1719	128	30	)	)	PUNCT
cblr-1719	128	31	,	,	PUNCT
cblr-1719	128	32	https://www.oecd.org/daf/ca/40038351.pdf	https://www.oecd.org/daf/ca/40038351.pdf	AUX
cblr-1719	128	33	[	[	X
cblr-1719	128	34	https://perma.cc/9w4t-qld8	https://perma.cc/9w4t-qld8	X
cblr-1719	128	35	]	]	X
cblr-1719	128	36	.	.	PUNCT
cblr-1719	129	1	25	25	NUM
cblr-1719	129	2	iss	iss	PROPN
cblr-1719	129	3	et	et	PROPN
cblr-1719	129	4	al	al	PROPN
cblr-1719	129	5	.	.	PROPN
cblr-1719	129	6	,	,	PUNCT
cblr-1719	129	7	supra	supra	PROPN
cblr-1719	129	8	note	note	PROPN
cblr-1719	129	9	7	7	NUM
cblr-1719	129	10	,	,	PUNCT
cblr-1719	129	11	at	at	ADP
cblr-1719	129	12	18–22	18–22	NUM
cblr-1719	129	13	.	.	PUNCT
cblr-1719	129	14	26	26	NUM
cblr-1719	130	1	the	the	DET
cblr-1719	130	2	availability	availability	NOUN
cblr-1719	130	3	of	of	ADP
cblr-1719	130	4	different	different	ADJ
cblr-1719	130	5	mechanisms	mechanism	NOUN
cblr-1719	130	6	ranges	range	VERB
cblr-1719	130	7	from	from	ADP
cblr-1719	130	8	81	81	NUM
cblr-1719	130	9	%	%	NOUN
cblr-1719	130	10	to	to	PART
cblr-1719	130	11	31	31	NUM
cblr-1719	130	12	%	%	NOUN
cblr-1719	130	13	of	of	ADP
cblr-1719	130	14	the	the	DET
cblr-1719	130	15	surveyed	survey	VERB
cblr-1719	130	16	countries	country	NOUN
cblr-1719	130	17	:	:	PUNCT
cblr-1719	130	18	non	non	ADJ
cblr-1719	130	19	-	-	ADJ
cblr-1719	130	20	voting	voting	ADJ
cblr-1719	130	21	preference	preference	NOUN
cblr-1719	130	22	shares	share	NOUN
cblr-1719	130	23	(	(	PUNCT
cblr-1719	130	24	81	81	NUM
cblr-1719	130	25	%	%	NOUN
cblr-1719	130	26	)	)	PUNCT
cblr-1719	130	27	,	,	PUNCT
cblr-1719	130	28	voting	vote	VERB
cblr-1719	130	29	right	right	ADJ
cblr-1719	130	30	ceilings	ceiling	NOUN
cblr-1719	130	31	(	(	PUNCT
cblr-1719	130	32	69	69	NUM
cblr-1719	130	33	%	%	NOUN
cblr-1719	130	34	)	)	PUNCT
cblr-1719	130	35	,	,	PUNCT
cblr-1719	130	36	priority	priority	NOUN
cblr-1719	130	37	shares	share	NOUN
cblr-1719	130	38	(	(	PUNCT
cblr-1719	130	39	56	56	NUM
cblr-1719	130	40	%	%	NOUN
cblr-1719	130	41	)	)	PUNCT
cblr-1719	130	42	,	,	PUNCT
cblr-1719	130	43	golden	golden	ADJ
cblr-1719	130	44	shares	share	NOUN
cblr-1719	130	45	(	(	PUNCT
cblr-1719	130	46	44	44	NUM
cblr-1719	130	47	%	%	NOUN
cblr-1719	130	48	)	)	PUNCT
cblr-1719	130	49	,	,	PUNCT
cblr-1719	130	50	ownership	ownership	NOUN
cblr-1719	130	51	ceilings	ceiling	NOUN
cblr-1719	130	52	(	(	PUNCT
cblr-1719	130	53	37	37	NUM
cblr-1719	130	54	%	%	NOUN
cblr-1719	130	55	)	)	PUNCT
cblr-1719	130	56	,	,	PUNCT
cblr-1719	130	57	non	non	ADJ
cblr-1719	130	58	-	-	ADJ
cblr-1719	130	59	voting	voting	ADJ
cblr-1719	130	60	shares	share	NOUN
cblr-1719	130	61	(	(	PUNCT
cblr-1719	130	62	31	31	NUM
cblr-1719	130	63	%	%	NOUN
cblr-1719	130	64	)	)	PUNCT
cblr-1719	130	65	.	.	PUNCT
cblr-1719	131	1	i	i	PRON
cblr-1719	131	2	d.	d.	PROPN
cblr-1719	131	3	at	at	ADP
cblr-1719	131	4	16	16	NUM
cblr-1719	131	5	fig.3.4	fig.3.4	NOUN
cblr-1719	131	6	.	.	PUNCT
cblr-1719	131	7	27	27	NUM
cblr-1719	131	8	high	high	ADJ
cblr-1719	131	9	level	level	NOUN
cblr-1719	131	10	group	group	NOUN
cblr-1719	131	11	of	of	ADP
cblr-1719	131	12	company	company	NOUN
cblr-1719	131	13	law	law	NOUN
cblr-1719	131	14	experts	expert	NOUN
cblr-1719	131	15	,	,	PUNCT
cblr-1719	131	16	supra	supra	PROPN
cblr-1719	131	17	note	note	NOUN
cblr-1719	131	18	24	24	NUM
cblr-1719	131	19	.	.	PUNCT
cblr-1719	132	1	lin	lin	PROPN
cblr-1719	132	2	–	–	PUNCT
cblr-1719	132	3	final	final	ADJ
cblr-1719	132	4	464	464	NUM
cblr-1719	132	5	columbia	columbia	PROPN
cblr-1719	132	6	business	business	NOUN
cblr-1719	132	7	law	law	PROPN
cblr-1719	132	8	review	review	NOUN
cblr-1719	132	9	[	[	X
cblr-1719	132	10	vol	vol	NOUN
cblr-1719	132	11	.	.	NOUN
cblr-1719	132	12	2017	2017	NUM
cblr-1719	132	13	unlimited	unlimited	ADJ
cblr-1719	132	14	right	right	NOUN
cblr-1719	132	15	to	to	PART
cblr-1719	132	16	participate	participate	VERB
cblr-1719	132	17	in	in	ADP
cblr-1719	132	18	the	the	DET
cblr-1719	132	19	profits	profit	NOUN
cblr-1719	132	20	of	of	ADP
cblr-1719	132	21	the	the	DET
cblr-1719	132	22	company	company	NOUN
cblr-1719	132	23	or	or	CCONJ
cblr-1719	132	24	in	in	ADP
cblr-1719	132	25	the	the	DET
cblr-1719	132	26	residue	residue	NOUN
cblr-1719	132	27	on	on	ADP
cblr-1719	132	28	liquidation	liquidation	NOUN
cblr-1719	132	29	,	,	PUNCT
cblr-1719	132	30	and	and	CCONJ
cblr-1719	132	31	only	only	ADV
cblr-1719	132	32	such	such	ADJ
cblr-1719	132	33	share	share	NOUN
cblr-1719	132	34	capital	capital	NOUN
cblr-1719	132	35	,	,	PUNCT
cblr-1719	132	36	should	should	AUX
cblr-1719	132	37	normally	normally	ADV
cblr-1719	132	38	carry	carry	VERB
cblr-1719	132	39	control	control	NOUN
cblr-1719	132	40	rights	right	NOUN
cblr-1719	132	41	,	,	PUNCT
cblr-1719	132	42	in	in	ADP
cblr-1719	132	43	proportion	proportion	NOUN
cblr-1719	132	44	to	to	ADP
cblr-1719	132	45	the	the	DET
cblr-1719	132	46	risk	risk	NOUN
cblr-1719	132	47	carried	carry	VERB
cblr-1719	132	48	.	.	PUNCT
cblr-1719	133	1	the	the	DET
cblr-1719	133	2	holders	holder	NOUN
cblr-1719	133	3	of	of	ADP
cblr-1719	133	4	these	these	DET
cblr-1719	133	5	rights	right	NOUN
cblr-1719	133	6	to	to	ADP
cblr-1719	133	7	the	the	DET
cblr-1719	133	8	residual	residual	ADJ
cblr-1719	133	9	profits	profit	NOUN
cblr-1719	133	10	and	and	CCONJ
cblr-1719	133	11	assets	asset	NOUN
cblr-1719	133	12	of	of	ADP
cblr-1719	133	13	the	the	DET
cblr-1719	133	14	company	company	NOUN
cblr-1719	133	15	are	be	AUX
cblr-1719	133	16	best	well	ADV
cblr-1719	133	17	equipped	equip	VERB
cblr-1719	133	18	to	to	PART
cblr-1719	133	19	decide	decide	VERB
cblr-1719	133	20	on	on	ADP
cblr-1719	133	21	the	the	DET
cblr-1719	133	22	affairs	affair	NOUN
cblr-1719	133	23	of	of	ADP
cblr-1719	133	24	the	the	DET
cblr-1719	133	25	company	company	NOUN
cblr-1719	133	26	as	as	SCONJ
cblr-1719	133	27	the	the	DET
cblr-1719	133	28	ultimate	ultimate	ADJ
cblr-1719	133	29	effects	effect	NOUN
cblr-1719	133	30	of	of	ADP
cblr-1719	133	31	their	their	PRON
cblr-1719	133	32	decisions	decision	NOUN
cblr-1719	133	33	will	will	AUX
cblr-1719	133	34	be	be	AUX
cblr-1719	133	35	borne	bear	VERB
cblr-1719	133	36	by	by	ADP
cblr-1719	133	37	them.28	them.28	NOUN
cblr-1719	133	38	following	follow	VERB
cblr-1719	133	39	this	this	DET
cblr-1719	133	40	report	report	NOUN
cblr-1719	133	41	,	,	PUNCT
cblr-1719	133	42	the	the	DET
cblr-1719	133	43	european	european	PROPN
cblr-1719	133	44	commission	commission	PROPN
cblr-1719	133	45	entrusted	entrust	VERB
cblr-1719	133	46	iss	iss	PROPN
cblr-1719	133	47	europe	europe	PROPN
cblr-1719	133	48	,	,	PUNCT
cblr-1719	133	49	the	the	DET
cblr-1719	133	50	european	european	ADJ
cblr-1719	133	51	corporate	corporate	ADJ
cblr-1719	133	52	governance	governance	NOUN
cblr-1719	133	53	institute	institute	NOUN
cblr-1719	133	54	,	,	PUNCT
cblr-1719	133	55	and	and	CCONJ
cblr-1719	133	56	the	the	DET
cblr-1719	133	57	law	law	NOUN
cblr-1719	133	58	firm	firm	NOUN
cblr-1719	133	59	shearman	shearman	NOUN
cblr-1719	133	60	&	&	CCONJ
cblr-1719	133	61	sterling	sterling	NOUN
cblr-1719	133	62	to	to	PART
cblr-1719	133	63	conduct	conduct	VERB
cblr-1719	133	64	a	a	DET
cblr-1719	133	65	thorough	thorough	ADJ
cblr-1719	133	66	study	study	NOUN
cblr-1719	133	67	on	on	ADP
cblr-1719	133	68	the	the	DET
cblr-1719	133	69	issue	issue	NOUN
cblr-1719	133	70	of	of	ADP
cblr-1719	133	71	proportionality	proportionality	NOUN
cblr-1719	133	72	of	of	ADP
cblr-1719	133	73	ownership	ownership	NOUN
cblr-1719	133	74	and	and	CCONJ
cblr-1719	133	75	control.29	control.29	NOUN
cblr-1719	133	76	once	once	SCONJ
cblr-1719	133	77	the	the	DET
cblr-1719	133	78	eu	eu	PROPN
cblr-1719	133	79	proportionality	proportionality	NOUN
cblr-1719	133	80	report	report	NOUN
cblr-1719	133	81	was	be	AUX
cblr-1719	133	82	published	publish	VERB
cblr-1719	133	83	in	in	ADP
cblr-1719	133	84	2007	2007	NUM
cblr-1719	133	85	,	,	PUNCT
cblr-1719	133	86	the	the	DET
cblr-1719	133	87	proportionality	proportionality	NOUN
cblr-1719	133	88	issue	issue	NOUN
cblr-1719	133	89	began	begin	VERB
cblr-1719	133	90	to	to	PART
cblr-1719	133	91	be	be	AUX
cblr-1719	133	92	discussed	discuss	VERB
cblr-1719	133	93	not	not	PART
cblr-1719	133	94	only	only	ADV
cblr-1719	133	95	at	at	ADP
cblr-1719	133	96	the	the	DET
cblr-1719	133	97	eu	eu	PROPN
cblr-1719	133	98	level	level	NOUN
cblr-1719	133	99	,	,	PUNCT
cblr-1719	133	100	but	but	CCONJ
cblr-1719	133	101	also	also	ADV
cblr-1719	133	102	within	within	ADP
cblr-1719	133	103	various	various	ADJ
cblr-1719	133	104	european	european	ADJ
cblr-1719	133	105	countries.30	countries.30	NOUN
cblr-1719	133	106	finally	finally	ADV
cblr-1719	133	107	,	,	PUNCT
cblr-1719	133	108	in	in	ADP
cblr-1719	133	109	september	september	PROPN
cblr-1719	133	110	2007	2007	NUM
cblr-1719	133	111	,	,	PUNCT
cblr-1719	133	112	the	the	DET
cblr-1719	133	113	european	european	ADJ
cblr-1719	133	114	corporate	corporate	ADJ
cblr-1719	133	115	governance	governance	NOUN
cblr-1719	133	116	forum	forum	NOUN
cblr-1719	133	117	published	publish	VERB
cblr-1719	133	118	a	a	DET
cblr-1719	133	119	statement	statement	NOUN
cblr-1719	133	120	declaring	declare	VERB
cblr-1719	133	121	that	that	SCONJ
cblr-1719	133	122	“	"	PUNCT
cblr-1719	133	123	[	[	X
cblr-1719	133	124	o]ur	o]ur	NUM
cblr-1719	133	125	current	current	ADJ
cblr-1719	133	126	information	information	NOUN
cblr-1719	133	127	on	on	ADP
cblr-1719	133	128	and	and	CCONJ
cblr-1719	133	129	understanding	understanding	NOUN
cblr-1719	133	130	of	of	ADP
cblr-1719	133	131	the	the	DET
cblr-1719	133	132	application	application	NOUN
cblr-1719	133	133	of	of	ADP
cblr-1719	133	134	proportionality	proportionality	NOUN
cblr-1719	133	135	in	in	ADP
cblr-1719	133	136	eu	eu	PROPN
cblr-1719	133	137	member	member	NOUN
cblr-1719	133	138	states	state	NOUN
cblr-1719	133	139	and	and	CCONJ
cblr-1719	133	140	the	the	DET
cblr-1719	133	141	effects	effect	NOUN
cblr-1719	133	142	of	of	ADP
cblr-1719	133	143	non	non	ADJ
cblr-1719	133	144	-	-	NOUN
cblr-1719	133	145	proportionality	proportionality	NOUN
cblr-1719	133	146	on	on	ADP
cblr-1719	133	147	the	the	DET
cblr-1719	133	148	stated	state	VERB
cblr-1719	133	149	eu	eu	PROPN
cblr-1719	133	150	policy	policy	NOUN
cblr-1719	133	151	objectives	objective	NOUN
cblr-1719	133	152	.	.	PUNCT
cblr-1719	133	153	.	.	PUNCT
cblr-1719	134	1	.	.	PUNCT
cblr-1719	135	1	do	do	AUX
cblr-1719	135	2	not	not	PART
cblr-1719	135	3	provide	provide	VERB
cblr-1719	135	4	a	a	DET
cblr-1719	135	5	basis	basis	NOUN
cblr-1719	135	6	for	for	ADP
cblr-1719	135	7	mandating	mandate	VERB
cblr-1719	135	8	proportionality	proportionality	NOUN
cblr-1719	135	9	rules	rule	NOUN
cblr-1719	135	10	across	across	ADP
cblr-1719	135	11	the	the	DET
cblr-1719	135	12	eu	eu	PROPN
cblr-1719	135	13	.	.	PROPN
cblr-1719	135	14	”31	”31	PROPN
cblr-1719	136	1	since	since	SCONJ
cblr-1719	136	2	then	then	ADV
cblr-1719	136	3	,	,	PUNCT
cblr-1719	136	4	the	the	DET
cblr-1719	136	5	eu	eu	PROPN
cblr-1719	136	6	has	have	AUX
cblr-1719	136	7	been	be	AUX
cblr-1719	136	8	regulating	regulate	VERB
cblr-1719	136	9	control	control	NOUN
cblr-1719	136	10	-	-	PUNCT
cblr-1719	136	11	enhancing	enhance	VERB
cblr-1719	136	12	mechanisms	mechanism	NOUN
cblr-1719	136	13	through	through	ADP
cblr-1719	136	14	enhancing	enhance	VERB
cblr-1719	136	15	disclosure	disclosure	NOUN
cblr-1719	136	16	and	and	CCONJ
cblr-1719	136	17	transparency.32	transparency.32	NOUN
cblr-1719	136	18	similarly	similarly	ADV
cblr-1719	136	19	,	,	PUNCT
cblr-1719	136	20	the	the	DET
cblr-1719	136	21	organisation	organisation	NOUN
cblr-1719	136	22	for	for	ADP
cblr-1719	136	23	economic	economic	ADJ
cblr-1719	136	24	co	co	NOUN
cblr-1719	136	25	-	-	NOUN
cblr-1719	136	26	operation	operation	NOUN
cblr-1719	136	27	and	and	CCONJ
cblr-1719	136	28	development	development	NOUN
cblr-1719	136	29	(	(	PUNCT
cblr-1719	136	30	“	"	PUNCT
cblr-1719	136	31	oecd	oecd	PROPN
cblr-1719	136	32	”	"	PUNCT
cblr-1719	136	33	)	)	PUNCT
cblr-1719	136	34	conducted	conduct	VERB
cblr-1719	136	35	an	an	DET
cblr-1719	136	36	assessment	assessment	NOUN
cblr-1719	136	37	of	of	ADP
cblr-1719	136	38	the	the	DET
cblr-1719	136	39	issue	issue	NOUN
cblr-1719	136	40	of	of	ADP
cblr-1719	136	41	proportionality	proportionality	NOUN
cblr-1719	136	42	in	in	ADP
cblr-1719	136	43	2007.33	2007.33	NUM
cblr-1719	136	44	the	the	DET
cblr-1719	136	45	oecd	oecd	PROPN
cblr-1719	136	46	report	report	NOUN
cblr-1719	136	47	concludes	conclude	VERB
cblr-1719	136	48	that	that	SCONJ
cblr-1719	136	49	regulation	regulation	NOUN
cblr-1719	136	50	imposing	impose	VERB
cblr-1719	136	51	a	a	DET
cblr-1719	136	52	one	one	NUM
cblr-1719	136	53	-	-	PUNCT
cblr-1719	136	54	share	share	NOUN
cblr-1719	136	55	one	one	NUM
cblr-1719	136	56	-	-	PUNCT
cblr-1719	136	57	vote	vote	NOUN
cblr-1719	136	58	principle	principle	NOUN
cblr-1719	136	59	may	may	AUX
cblr-1719	136	60	not	not	PART
cblr-1719	136	61	be	be	AUX
cblr-1719	136	62	effective	effective	ADJ
cblr-1719	136	63	because	because	SCONJ
cblr-1719	136	64	there	there	PRON
cblr-1719	136	65	are	be	VERB
cblr-1719	136	66	many	many	ADJ
cblr-1719	136	67	substitutes	substitute	NOUN
cblr-1719	136	68	to	to	ADP
cblr-1719	136	69	voting	vote	VERB
cblr-1719	136	70	restrictions	restriction	NOUN
cblr-1719	136	71	that	that	PRON
cblr-1719	136	72	would	would	AUX
cblr-1719	136	73	create	create	VERB
cblr-1719	136	74	similar	similar	ADJ
cblr-1719	136	75	28	28	NUM
cblr-1719	136	76	i	i	PRON
cblr-1719	136	77	d.	d.	PROPN
cblr-1719	136	78	at	at	ADP
cblr-1719	136	79	3	3	NUM
cblr-1719	136	80	.	.	PROPN
cblr-1719	136	81	29	29	NUM
cblr-1719	136	82	iss	iss	PROPN
cblr-1719	136	83	et	et	PROPN
cblr-1719	136	84	al	al	PROPN
cblr-1719	136	85	.	.	PROPN
cblr-1719	136	86	,	,	PUNCT
cblr-1719	136	87	supra	supra	PROPN
cblr-1719	136	88	note	note	VERB
cblr-1719	136	89	7	7	NUM
cblr-1719	136	90	.	.	SYM
cblr-1719	136	91	30	30	NUM
cblr-1719	136	92	commission	commission	NOUN
cblr-1719	136	93	of	of	ADP
cblr-1719	136	94	the	the	DET
cblr-1719	136	95	european	european	PROPN
cblr-1719	136	96	communities	communities	PROPN
cblr-1719	136	97	,	,	PUNCT
cblr-1719	136	98	supra	supra	PROPN
cblr-1719	136	99	note	note	NOUN
cblr-1719	136	100	24	24	NUM
cblr-1719	136	101	,	,	PUNCT
cblr-1719	136	102	8–9	8–9	PROPN
cblr-1719	136	103	.	.	PROPN
cblr-1719	136	104	31	31	NUM
cblr-1719	137	1	i	i	PRON
cblr-1719	137	2	d.	d.	PROPN
cblr-1719	137	3	at	at	ADP
cblr-1719	137	4	49	49	NUM
cblr-1719	137	5	.	.	PUNCT
cblr-1719	138	1	32	32	NUM
cblr-1719	138	2	wolf	wolf	NOUN
cblr-1719	138	3	-	-	PUNCT
cblr-1719	138	4	georg	georg	NOUN
cblr-1719	138	5	ringe	ringe	NOUN
cblr-1719	138	6	,	,	PUNCT
cblr-1719	138	7	deviations	deviation	NOUN
cblr-1719	138	8	from	from	ADP
cblr-1719	138	9	ownership	ownership	NOUN
cblr-1719	138	10	-	-	PUNCT
cblr-1719	138	11	control	control	NOUN
cblr-1719	138	12	proportionality	proportionality	NOUN
cblr-1719	138	13	—	—	PUNCT
cblr-1719	138	14	economic	economic	ADJ
cblr-1719	138	15	protectionism	protectionism	NOUN
cblr-1719	138	16	revisited	revisit	VERB
cblr-1719	138	17	,	,	PUNCT
cblr-1719	138	18	in	in	ADP
cblr-1719	138	19	company	company	NOUN
cblr-1719	138	20	law	law	NOUN
cblr-1719	138	21	and	and	CCONJ
cblr-1719	138	22	economic	economic	ADJ
cblr-1719	138	23	protectionism	protectionism	NOUN
cblr-1719	138	24	:	:	PUNCT
cblr-1719	138	25	new	new	ADJ
cblr-1719	138	26	challenges	challenge	NOUN
cblr-1719	138	27	to	to	ADP
cblr-1719	138	28	european	european	ADJ
cblr-1719	138	29	integration	integration	NOUN
cblr-1719	138	30	212–13	212–13	NOUN
cblr-1719	138	31	(	(	PUNCT
cblr-1719	138	32	ulf	ulf	PROPN
cblr-1719	138	33	bernitz	bernitz	PROPN
cblr-1719	138	34	and	and	CCONJ
cblr-1719	138	35	wolf	wolf	NOUN
cblr-1719	138	36	-	-	PUNCT
cblr-1719	138	37	georg	georg	NOUN
cblr-1719	138	38	ringe	ringe	NOUN
cblr-1719	138	39	eds	ed	NOUN
cblr-1719	138	40	.	.	PROPN
cblr-1719	138	41	,	,	PUNCT
cblr-1719	138	42	2010	2010	NUM
cblr-1719	138	43	)	)	PUNCT
cblr-1719	138	44	.	.	PUNCT
cblr-1719	139	1	33	33	NUM
cblr-1719	139	2	oecd	oecd	PROPN
cblr-1719	139	3	steering	steering	NOUN
cblr-1719	139	4	group	group	NOUN
cblr-1719	139	5	on	on	ADP
cblr-1719	139	6	corporate	corporate	ADJ
cblr-1719	139	7	governance	governance	NOUN
cblr-1719	139	8	,	,	PUNCT
cblr-1719	139	9	supra	supra	PROPN
cblr-1719	139	10	note	note	NOUN
cblr-1719	139	11	24	24	NUM
cblr-1719	139	12	.	.	PUNCT
cblr-1719	140	1	lin	lin	PROPN
cblr-1719	140	2	–	–	PUNCT
cblr-1719	140	3	final	final	ADJ
cblr-1719	140	4	no	no	NOUN
cblr-1719	140	5	.	.	PUNCT
cblr-1719	140	6	2:453	2:453	NUM
cblr-1719	140	7	]	]	X
cblr-1719	140	8	controlling	control	VERB
cblr-1719	140	9	-	-	PUNCT
cblr-1719	140	10	minority	minority	NOUN
cblr-1719	140	11	shareholders	shareholder	NOUN
cblr-1719	140	12	465	465	NUM
cblr-1719	140	13	deviations	deviation	NOUN
cblr-1719	140	14	as	as	ADP
cblr-1719	140	15	a	a	DET
cblr-1719	140	16	result.34	result.34	NOUN
cblr-1719	140	17	in	in	ADP
cblr-1719	140	18	addition	addition	NOUN
cblr-1719	140	19	,	,	PUNCT
cblr-1719	140	20	mandating	mandate	VERB
cblr-1719	140	21	one	one	NUM
cblr-1719	140	22	-	-	PUNCT
cblr-1719	140	23	share	share	NOUN
cblr-1719	140	24	one	one	NUM
cblr-1719	140	25	-	-	PUNCT
cblr-1719	140	26	vote	vote	NOUN
cblr-1719	140	27	may	may	AUX
cblr-1719	140	28	deter	deter	VERB
cblr-1719	140	29	companies	company	NOUN
cblr-1719	140	30	controlled	control	VERB
cblr-1719	140	31	by	by	ADP
cblr-1719	140	32	entrepreneurs	entrepreneur	NOUN
cblr-1719	140	33	from	from	ADP
cblr-1719	140	34	seeking	seek	VERB
cblr-1719	140	35	public	public	ADJ
cblr-1719	140	36	listing	listing	NOUN
cblr-1719	140	37	and	and	CCONJ
cblr-1719	140	38	thus	thus	ADV
cblr-1719	140	39	discourage	discourage	VERB
cblr-1719	140	40	the	the	DET
cblr-1719	140	41	innovation	innovation	NOUN
cblr-1719	140	42	and	and	CCONJ
cblr-1719	140	43	entrepreneurship	entrepreneurship	NOUN
cblr-1719	140	44	that	that	PRON
cblr-1719	140	45	are	be	AUX
cblr-1719	140	46	essential	essential	ADJ
cblr-1719	140	47	for	for	ADP
cblr-1719	140	48	economic	economic	ADJ
cblr-1719	140	49	development.35	development.35	NOUN
cblr-1719	140	50	in	in	ADP
cblr-1719	140	51	the	the	DET
cblr-1719	140	52	end	end	NOUN
cblr-1719	140	53	,	,	PUNCT
cblr-1719	140	54	the	the	DET
cblr-1719	140	55	oecd	oecd	PROPN
cblr-1719	140	56	recommended	recommend	VERB
cblr-1719	140	57	alternatives	alternative	NOUN
cblr-1719	140	58	,	,	PUNCT
cblr-1719	140	59	such	such	ADJ
cblr-1719	140	60	as	as	ADP
cblr-1719	140	61	strengthening	strengthen	VERB
cblr-1719	140	62	the	the	DET
cblr-1719	140	63	corporate	corporate	ADJ
cblr-1719	140	64	governance	governance	NOUN
cblr-1719	140	65	framework	framework	NOUN
cblr-1719	140	66	,	,	PUNCT
cblr-1719	140	67	to	to	PART
cblr-1719	140	68	reduce	reduce	VERB
cblr-1719	140	69	private	private	ADJ
cblr-1719	140	70	benefits	benefit	NOUN
cblr-1719	140	71	extraction	extraction	NOUN
cblr-1719	140	72	and	and	CCONJ
cblr-1719	140	73	to	to	PART
cblr-1719	140	74	target	target	VERB
cblr-1719	140	75	specific	specific	ADJ
cblr-1719	140	76	problems	problem	NOUN
cblr-1719	140	77	involving	involve	VERB
cblr-1719	140	78	proportionality	proportionality	NOUN
cblr-1719	140	79	with	with	ADP
cblr-1719	140	80	appropriate	appropriate	ADJ
cblr-1719	140	81	regulatory	regulatory	ADJ
cblr-1719	140	82	impact	impact	NOUN
cblr-1719	140	83	assessments.36	assessments.36	NOUN
cblr-1719	140	84	ultimately	ultimately	ADV
cblr-1719	140	85	,	,	PUNCT
cblr-1719	140	86	both	both	CCONJ
cblr-1719	140	87	the	the	DET
cblr-1719	140	88	eu	eu	PROPN
cblr-1719	140	89	and	and	CCONJ
cblr-1719	140	90	oecd	oecd	PROPN
cblr-1719	140	91	came	come	VERB
cblr-1719	140	92	to	to	ADP
cblr-1719	140	93	the	the	DET
cblr-1719	140	94	same	same	ADJ
cblr-1719	140	95	conclusion	conclusion	NOUN
cblr-1719	140	96	—	—	PUNCT
cblr-1719	140	97	rather	rather	ADV
cblr-1719	140	98	than	than	ADP
cblr-1719	140	99	impose	impose	VERB
cblr-1719	140	100	the	the	DET
cblr-1719	140	101	one	one	NUM
cblr-1719	140	102	-	-	PUNCT
cblr-1719	140	103	share	share	NOUN
cblr-1719	140	104	onevote	onevote	ADJ
cblr-1719	140	105	principle	principle	NOUN
cblr-1719	140	106	across	across	ADP
cblr-1719	140	107	jurisdictions	jurisdiction	NOUN
cblr-1719	140	108	,	,	PUNCT
cblr-1719	140	109	the	the	DET
cblr-1719	140	110	decision	decision	NOUN
cblr-1719	140	111	should	should	AUX
cblr-1719	140	112	be	be	AUX
cblr-1719	140	113	left	leave	VERB
cblr-1719	140	114	to	to	ADP
cblr-1719	140	115	local	local	ADJ
cblr-1719	140	116	government	government	NOUN
cblr-1719	140	117	authorities	authority	NOUN
cblr-1719	140	118	.	.	PUNCT
cblr-1719	141	1	2	2	X
cblr-1719	141	2	.	.	X
cblr-1719	141	3	divergent	divergent	ADJ
cblr-1719	141	4	regulatory	regulatory	ADJ
cblr-1719	141	5	policies	policy	NOUN
cblr-1719	141	6	towards	towards	ADP
cblr-1719	141	7	dualclass	dualclass	NOUN
cblr-1719	141	8	shares	share	NOUN
cblr-1719	141	9	in	in	ADP
cblr-1719	141	10	general	general	ADJ
cblr-1719	141	11	,	,	PUNCT
cblr-1719	141	12	there	there	PRON
cblr-1719	141	13	is	be	VERB
cblr-1719	141	14	consensus	consensus	NOUN
cblr-1719	141	15	on	on	ADP
cblr-1719	141	16	the	the	DET
cblr-1719	141	17	principle	principle	NOUN
cblr-1719	141	18	of	of	ADP
cblr-1719	141	19	proportionality	proportionality	NOUN
cblr-1719	141	20	between	between	ADP
cblr-1719	141	21	equity	equity	NOUN
cblr-1719	141	22	ownership	ownership	NOUN
cblr-1719	141	23	and	and	CCONJ
cblr-1719	141	24	control	control	NOUN
cblr-1719	141	25	based	base	VERB
cblr-1719	141	26	on	on	ADP
cblr-1719	141	27	relatively	relatively	ADV
cblr-1719	141	28	straightforward	straightforward	ADJ
cblr-1719	141	29	economic	economic	ADJ
cblr-1719	141	30	sense	sense	NOUN
cblr-1719	141	31	and	and	CCONJ
cblr-1719	141	32	equal	equal	ADJ
cblr-1719	141	33	treatment	treatment	NOUN
cblr-1719	141	34	among	among	ADP
cblr-1719	141	35	shareholders	shareholder	NOUN
cblr-1719	141	36	.	.	PUNCT
cblr-1719	142	1	at	at	ADP
cblr-1719	142	2	the	the	DET
cblr-1719	142	3	same	same	ADJ
cblr-1719	142	4	time	time	NOUN
cblr-1719	142	5	,	,	PUNCT
cblr-1719	142	6	there	there	PRON
cblr-1719	142	7	seems	seem	VERB
cblr-1719	142	8	to	to	PART
cblr-1719	142	9	be	be	AUX
cblr-1719	142	10	consensus	consensus	NOUN
cblr-1719	142	11	that	that	SCONJ
cblr-1719	142	12	companies	company	NOUN
cblr-1719	142	13	should	should	AUX
cblr-1719	142	14	be	be	AUX
cblr-1719	142	15	allowed	allow	VERB
cblr-1719	142	16	to	to	PART
cblr-1719	142	17	deviate	deviate	VERB
cblr-1719	142	18	from	from	ADP
cblr-1719	142	19	this	this	DET
cblr-1719	142	20	proportionality	proportionality	NOUN
cblr-1719	142	21	principle	principle	NOUN
cblr-1719	142	22	—	—	PUNCT
cblr-1719	142	23	at	at	ADP
cblr-1719	142	24	least	least	ADJ
cblr-1719	142	25	as	as	SCONJ
cblr-1719	142	26	evidenced	evidence	VERB
cblr-1719	142	27	by	by	ADP
cblr-1719	142	28	the	the	DET
cblr-1719	142	29	prevalence	prevalence	NOUN
cblr-1719	142	30	of	of	ADP
cblr-1719	142	31	pyramidal	pyramidal	ADJ
cblr-1719	142	32	group	group	NOUN
cblr-1719	142	33	structures	structure	NOUN
cblr-1719	142	34	in	in	ADP
cblr-1719	142	35	most	most	ADJ
cblr-1719	142	36	countries	country	NOUN
cblr-1719	142	37	.	.	PUNCT
cblr-1719	143	1	37	37	NUM
cblr-1719	143	2	within	within	ADP
cblr-1719	143	3	this	this	DET
cblr-1719	143	4	consensus	consensus	NOUN
cblr-1719	143	5	,	,	PUNCT
cblr-1719	143	6	however	however	ADV
cblr-1719	143	7	,	,	PUNCT
cblr-1719	143	8	lie	lie	VERB
cblr-1719	143	9	disagreements	disagreement	NOUN
cblr-1719	143	10	over	over	ADP
cblr-1719	143	11	which	which	PRON
cblr-1719	143	12	mechanisms	mechanism	NOUN
cblr-1719	143	13	should	should	AUX
cblr-1719	143	14	be	be	AUX
cblr-1719	143	15	allowed	allow	VERB
cblr-1719	143	16	to	to	PART
cblr-1719	143	17	create	create	VERB
cblr-1719	143	18	such	such	ADJ
cblr-1719	143	19	deviations	deviation	NOUN
cblr-1719	143	20	.	.	PUNCT
cblr-1719	144	1	as	as	SCONJ
cblr-1719	144	2	the	the	DET
cblr-1719	144	3	iss	iss	PROPN
cblr-1719	144	4	survey	survey	NOUN
cblr-1719	144	5	shows	show	NOUN
cblr-1719	144	6	,	,	PUNCT
cblr-1719	144	7	the	the	DET
cblr-1719	144	8	main	main	ADJ
cblr-1719	144	9	difficulty	difficulty	NOUN
cblr-1719	144	10	pertains	pertain	VERB
cblr-1719	144	11	to	to	ADP
cblr-1719	144	12	the	the	DET
cblr-1719	144	13	restriction	restriction	NOUN
cblr-1719	144	14	or	or	CCONJ
cblr-1719	144	15	empowerment	empowerment	NOUN
cblr-1719	144	16	of	of	ADP
cblr-1719	144	17	certain	certain	ADJ
cblr-1719	144	18	types	type	NOUN
cblr-1719	144	19	of	of	ADP
cblr-1719	144	20	shares	share	NOUN
cblr-1719	144	21	,	,	PUNCT
cblr-1719	144	22	or	or	CCONJ
cblr-1719	144	23	specific	specific	ADJ
cblr-1719	144	24	shareholders	shareholder	NOUN
cblr-1719	144	25	,	,	PUNCT
cblr-1719	144	26	in	in	ADP
cblr-1719	144	27	the	the	DET
cblr-1719	144	28	corporate	corporate	ADJ
cblr-1719	144	29	charter.38	charter.38	NOUN
cblr-1719	144	30	in	in	ADP
cblr-1719	144	31	particular	particular	ADJ
cblr-1719	144	32	,	,	PUNCT
cblr-1719	144	33	the	the	DET
cblr-1719	144	34	dual	dual	ADJ
cblr-1719	144	35	-	-	PUNCT
cblr-1719	144	36	class	class	NOUN
cblr-1719	144	37	share	share	NOUN
cblr-1719	144	38	structure	structure	NOUN
cblr-1719	144	39	has	have	AUX
cblr-1719	144	40	attracted	attract	VERB
cblr-1719	144	41	the	the	DET
cblr-1719	144	42	most	most	ADJ
cblr-1719	144	43	attention	attention	NOUN
cblr-1719	144	44	in	in	ADP
cblr-1719	144	45	recent	recent	ADJ
cblr-1719	144	46	years	year	NOUN
cblr-1719	144	47	because	because	SCONJ
cblr-1719	144	48	many	many	ADJ
cblr-1719	144	49	prominent	prominent	ADJ
cblr-1719	144	50	ipo	ipo	NOUN
cblr-1719	144	51	firms	firm	NOUN
cblr-1719	144	52	adopted	adopt	VERB
cblr-1719	144	53	such	such	DET
cblr-1719	144	54	a	a	DET
cblr-1719	144	55	34	34	NUM
cblr-1719	144	56	i	i	PROPN
cblr-1719	144	57	d.	d.	PROPN
cblr-1719	144	58	at	at	ADP
cblr-1719	144	59	5	5	NUM
cblr-1719	144	60	.	.	NUM
cblr-1719	144	61	35	35	NUM
cblr-1719	145	1	i	i	PRON
cblr-1719	145	2	d.	d.	PROPN
cblr-1719	145	3	36	36	NUM
cblr-1719	145	4	see	see	VERB
cblr-1719	145	5	i	i	PRON
cblr-1719	145	6	d.	d.	PROPN
cblr-1719	145	7	at	at	ADP
cblr-1719	145	8	4–6	4–6	PROPN
cblr-1719	145	9	.	.	PROPN
cblr-1719	145	10	37	37	NUM
cblr-1719	145	11	see	see	VERB
cblr-1719	145	12	iss	iss	PROPN
cblr-1719	145	13	et	et	PROPN
cblr-1719	145	14	al	al	PROPN
cblr-1719	145	15	.	.	PROPN
cblr-1719	145	16	,	,	PUNCT
cblr-1719	145	17	supra	supra	PROPN
cblr-1719	145	18	note	note	PROPN
cblr-1719	145	19	7	7	NUM
cblr-1719	145	20	,	,	PUNCT
cblr-1719	145	21	at	at	ADP
cblr-1719	145	22	14–15	14–15	NUM
cblr-1719	145	23	.	.	PUNCT
cblr-1719	146	1	38	38	NUM
cblr-1719	146	2	see	see	VERB
cblr-1719	146	3	i	i	PRON
cblr-1719	146	4	d.	d.	PROPN
cblr-1719	146	5	at	at	ADP
cblr-1719	146	6	15–16	15–16	PROPN
cblr-1719	146	7	.	.	PUNCT
cblr-1719	147	1	lin	lin	PROPN
cblr-1719	147	2	–	–	PUNCT
cblr-1719	147	3	final	final	ADJ
cblr-1719	147	4	466	466	NUM
cblr-1719	147	5	columbia	columbia	PROPN
cblr-1719	147	6	business	business	NOUN
cblr-1719	147	7	law	law	NOUN
cblr-1719	147	8	review	review	NOUN
cblr-1719	147	9	[	[	X
cblr-1719	147	10	vol	vol	NOUN
cblr-1719	147	11	.	.	NOUN
cblr-1719	147	12	2017	2017	NUM
cblr-1719	147	13	structure	structure	NOUN
cblr-1719	147	14	,	,	PUNCT
cblr-1719	147	15	and	and	CCONJ
cblr-1719	147	16	it	it	PRON
cblr-1719	147	17	has	have	AUX
cblr-1719	147	18	provoked	provoke	VERB
cblr-1719	147	19	debate	debate	NOUN
cblr-1719	147	20	among	among	ADP
cblr-1719	147	21	stock	stock	NOUN
cblr-1719	147	22	exchanges	exchange	NOUN
cblr-1719	147	23	as	as	ADP
cblr-1719	147	24	to	to	ADP
cblr-1719	147	25	whether	whether	SCONJ
cblr-1719	147	26	to	to	PART
cblr-1719	147	27	allow	allow	VERB
cblr-1719	147	28	multiple	multiple	ADJ
cblr-1719	147	29	voting	voting	NOUN
cblr-1719	147	30	rights	right	NOUN
cblr-1719	147	31	shares.39	shares.39	NOUN
cblr-1719	147	32	there	there	PRON
cblr-1719	147	33	are	be	VERB
cblr-1719	147	34	three	three	NUM
cblr-1719	147	35	main	main	ADJ
cblr-1719	147	36	regulatory	regulatory	ADJ
cblr-1719	147	37	policies	policy	NOUN
cblr-1719	147	38	governing	govern	VERB
cblr-1719	147	39	dualclass	dualclass	NOUN
cblr-1719	147	40	share	share	NOUN
cblr-1719	147	41	structures.40	structures.40	PROPN
cblr-1719	147	42	the	the	DET
cblr-1719	147	43	first	first	ADJ
cblr-1719	147	44	is	be	AUX
cblr-1719	147	45	the	the	DET
cblr-1719	147	46	permissive	permissive	ADJ
cblr-1719	147	47	approach	approach	NOUN
cblr-1719	147	48	,	,	PUNCT
cblr-1719	147	49	which	which	PRON
cblr-1719	147	50	is	be	AUX
cblr-1719	147	51	complemented	complement	VERB
cblr-1719	147	52	by	by	ADP
cblr-1719	147	53	substantial	substantial	ADJ
cblr-1719	147	54	disclosure	disclosure	NOUN
cblr-1719	147	55	requirements	requirement	NOUN
cblr-1719	147	56	,	,	PUNCT
cblr-1719	147	57	such	such	ADJ
cblr-1719	147	58	as	as	ADP
cblr-1719	147	59	those	those	PRON
cblr-1719	147	60	that	that	PRON
cblr-1719	147	61	are	be	AUX
cblr-1719	147	62	seen	see	VERB
cblr-1719	147	63	in	in	ADP
cblr-1719	147	64	the	the	DET
cblr-1719	147	65	united	united	PROPN
cblr-1719	147	66	states	states	PROPN
cblr-1719	147	67	and	and	CCONJ
cblr-1719	147	68	canada.41	canada.41	NOUN
cblr-1719	147	69	the	the	DET
cblr-1719	147	70	second	second	ADJ
cblr-1719	147	71	approach	approach	NOUN
cblr-1719	147	72	is	be	AUX
cblr-1719	147	73	prohibition	prohibition	NOUN
cblr-1719	147	74	and	and	CCONJ
cblr-1719	147	75	mandating	mandate	VERB
cblr-1719	147	76	one	one	NUM
cblr-1719	147	77	-	-	PUNCT
cblr-1719	147	78	share	share	NOUN
cblr-1719	147	79	one	one	NUM
cblr-1719	147	80	-	-	PUNCT
cblr-1719	147	81	vote	vote	NOUN
cblr-1719	147	82	through	through	ADP
cblr-1719	147	83	corporate	corporate	ADJ
cblr-1719	147	84	law	law	NOUN
cblr-1719	147	85	.	.	PUNCT
cblr-1719	148	1	this	this	DET
cblr-1719	148	2	approach	approach	NOUN
cblr-1719	148	3	applies	apply	VERB
cblr-1719	148	4	in	in	ADP
cblr-1719	148	5	countries	country	NOUN
cblr-1719	148	6	such	such	ADJ
cblr-1719	148	7	as	as	ADP
cblr-1719	148	8	germany	germany	PROPN
cblr-1719	148	9	,	,	PUNCT
cblr-1719	148	10	spain	spain	PROPN
cblr-1719	148	11	,	,	PUNCT
cblr-1719	148	12	and	and	CCONJ
cblr-1719	148	13	china.42	china.42	VERB
cblr-1719	148	14	the	the	DET
cblr-1719	148	15	third	third	NOUN
cblr-1719	148	16	is	be	AUX
cblr-1719	148	17	to	to	PART
cblr-1719	148	18	allow	allow	VERB
cblr-1719	148	19	dual	dual	ADJ
cblr-1719	148	20	-	-	PUNCT
cblr-1719	148	21	class	class	NOUN
cblr-1719	148	22	shares	share	NOUN
cblr-1719	148	23	in	in	ADP
cblr-1719	148	24	private	private	ADJ
cblr-1719	148	25	companies	company	NOUN
cblr-1719	148	26	but	but	CCONJ
cblr-1719	148	27	prohibit	prohibit	VERB
cblr-1719	148	28	public	public	ADJ
cblr-1719	148	29	companies	company	NOUN
cblr-1719	148	30	from	from	ADP
cblr-1719	148	31	deviating	deviate	VERB
cblr-1719	148	32	from	from	ADP
cblr-1719	148	33	the	the	DET
cblr-1719	148	34	one	one	NUM
cblr-1719	148	35	-	-	PUNCT
cblr-1719	148	36	share	share	NOUN
cblr-1719	148	37	one	one	NUM
cblr-1719	148	38	-	-	PUNCT
cblr-1719	148	39	vote	vote	NOUN
cblr-1719	148	40	principle	principle	NOUN
cblr-1719	148	41	.	.	PUNCT
cblr-1719	149	1	most	most	ADJ
cblr-1719	149	2	commonwealth	commonwealth	NOUN
cblr-1719	149	3	jurisdictions	jurisdiction	NOUN
cblr-1719	149	4	,	,	PUNCT
cblr-1719	149	5	such	such	ADJ
cblr-1719	149	6	as	as	ADP
cblr-1719	149	7	the	the	DET
cblr-1719	149	8	uk	uk	PROPN
cblr-1719	149	9	,	,	PUNCT
cblr-1719	149	10	hong	hong	PROPN
cblr-1719	149	11	kong	kong	PROPN
cblr-1719	149	12	,	,	PUNCT
cblr-1719	149	13	and	and	CCONJ
cblr-1719	149	14	australia	australia	PROPN
cblr-1719	149	15	,	,	PUNCT
cblr-1719	149	16	have	have	AUX
cblr-1719	149	17	adopted	adopt	VERB
cblr-1719	149	18	the	the	DET
cblr-1719	149	19	third	third	ADJ
cblr-1719	149	20	approach.43	approach.43	NOUN
cblr-1719	149	21	since	since	SCONJ
cblr-1719	149	22	2014	2014	NUM
cblr-1719	149	23	,	,	PUNCT
cblr-1719	149	24	regulators	regulator	NOUN
cblr-1719	149	25	in	in	ADP
cblr-1719	149	26	china	china	PROPN
cblr-1719	149	27	,	,	PUNCT
cblr-1719	149	28	hong	hong	PROPN
cblr-1719	149	29	kong	kong	PROPN
cblr-1719	149	30	,	,	PUNCT
cblr-1719	149	31	and	and	CCONJ
cblr-1719	149	32	singapore	singapore	PROPN
cblr-1719	149	33	have	have	AUX
cblr-1719	149	34	revisited	revisit	VERB
cblr-1719	149	35	their	their	PRON
cblr-1719	149	36	one	one	NUM
cblr-1719	149	37	-	-	PUNCT
cblr-1719	149	38	share	share	NOUN
cblr-1719	149	39	one	one	NUM
cblr-1719	149	40	-	-	PUNCT
cblr-1719	149	41	vote	vote	NOUN
cblr-1719	149	42	policy	policy	NOUN
cblr-1719	149	43	and	and	CCONJ
cblr-1719	149	44	reconsidered	reconsider	VERB
cblr-1719	149	45	accepting	accept	VERB
cblr-1719	149	46	a	a	DET
cblr-1719	149	47	dual	dual	ADJ
cblr-1719	149	48	-	-	PUNCT
cblr-1719	149	49	class	class	NOUN
cblr-1719	149	50	share	share	NOUN
cblr-1719	149	51	structure	structure	NOUN
cblr-1719	149	52	.	.	PUNCT
cblr-1719	150	1	china	china	PROPN
cblr-1719	150	2	’s	’s	PART
cblr-1719	150	3	largest	large	ADJ
cblr-1719	150	4	e	e	NOUN
cblr-1719	150	5	-	-	NOUN
cblr-1719	150	6	retailer	retailer	NOUN
cblr-1719	150	7	,	,	PUNCT
cblr-1719	150	8	alibaba	alibaba	PROPN
cblr-1719	150	9	,	,	PUNCT
cblr-1719	150	10	launched	launch	VERB
cblr-1719	150	11	the	the	DET
cblr-1719	150	12	largest	large	ADJ
cblr-1719	150	13	ipo	ipo	NOUN
cblr-1719	150	14	of	of	ADP
cblr-1719	150	15	all	all	DET
cblr-1719	150	16	time	time	NOUN
cblr-1719	150	17	in	in	ADP
cblr-1719	150	18	september	september	PROPN
cblr-1719	150	19	2014	2014	NUM
cblr-1719	150	20	on	on	ADP
cblr-1719	150	21	the	the	DET
cblr-1719	150	22	new	new	PROPN
cblr-1719	150	23	york	york	PROPN
cblr-1719	150	24	stock	stock	PROPN
cblr-1719	150	25	exchange	exchange	PROPN
cblr-1719	150	26	(	(	PUNCT
cblr-1719	150	27	“	"	PUNCT
cblr-1719	150	28	nyse	nyse	PROPN
cblr-1719	150	29	”	"	PUNCT
cblr-1719	150	30	)	)	PUNCT
cblr-1719	150	31	.	.	PUNCT
cblr-1719	151	1	alibaba	alibaba	PROPN
cblr-1719	151	2	had	have	AUX
cblr-1719	151	3	previously	previously	ADV
cblr-1719	151	4	sought	seek	VERB
cblr-1719	151	5	to	to	PART
cblr-1719	151	6	list	list	VERB
cblr-1719	151	7	on	on	ADP
cblr-1719	151	8	the	the	DET
cblr-1719	151	9	stock	stock	NOUN
cblr-1719	151	10	exchange	exchange	NOUN
cblr-1719	151	11	of	of	ADP
cblr-1719	151	12	hong	hong	PROPN
cblr-1719	151	13	kong	kong	PROPN
cblr-1719	151	14	(	(	PUNCT
cblr-1719	151	15	“	"	PUNCT
cblr-1719	151	16	hkex	hkex	ADJ
cblr-1719	151	17	”	"	PUNCT
cblr-1719	151	18	)	)	PUNCT
cblr-1719	151	19	with	with	ADP
cblr-1719	151	20	a	a	DET
cblr-1719	151	21	dual	dual	ADJ
cblr-1719	151	22	-	-	PUNCT
cblr-1719	151	23	class	class	NOUN
cblr-1719	151	24	share	share	NOUN
cblr-1719	151	25	structure,44	structure,44	ADV
cblr-1719	151	26	but	but	CCONJ
cblr-1719	151	27	it	it	PRON
cblr-1719	151	28	was	be	AUX
cblr-1719	151	29	rebuffed	rebuff	VERB
cblr-1719	151	30	on	on	ADP
cblr-1719	151	31	the	the	DET
cblr-1719	151	32	grounds	ground	NOUN
cblr-1719	151	33	that	that	SCONJ
cblr-1719	151	34	the	the	DET
cblr-1719	151	35	dualclass	dualclass	NOUN
cblr-1719	151	36	share	share	NOUN
cblr-1719	151	37	structure	structure	NOUN
cblr-1719	151	38	violated	violate	VERB
cblr-1719	151	39	the	the	DET
cblr-1719	151	40	one	one	NUM
cblr-1719	151	41	-	-	PUNCT
cblr-1719	151	42	share	share	NOUN
cblr-1719	151	43	one	one	NUM
cblr-1719	151	44	-	-	PUNCT
cblr-1719	151	45	vote	vote	NOUN
cblr-1719	151	46	rule.45	rule.45	NOUN
cblr-1719	151	47	however	however	ADV
cblr-1719	151	48	,	,	PUNCT
cblr-1719	151	49	competition	competition	NOUN
cblr-1719	151	50	among	among	ADP
cblr-1719	151	51	international	international	ADJ
cblr-1719	151	52	stock	stock	NOUN
cblr-1719	151	53	exchanges	exchange	NOUN
cblr-1719	151	54	has	have	AUX
cblr-1719	151	55	forced	force	VERB
cblr-1719	151	56	participants	participant	NOUN
cblr-1719	151	57	in	in	ADP
cblr-1719	151	58	the	the	DET
cblr-1719	151	59	hong	hong	PROPN
cblr-1719	151	60	kong	kong	PROPN
cblr-1719	151	61	market	market	NOUN
cblr-1719	151	62	to	to	PART
cblr-1719	151	63	reconsider	reconsider	VERB
cblr-1719	151	64	their	their	PRON
cblr-1719	151	65	strict	strict	ADJ
cblr-1719	151	66	one	one	NUM
cblr-1719	151	67	-	-	PUNCT
cblr-1719	151	68	share	share	NOUN
cblr-1719	151	69	one	one	NUM
cblr-1719	151	70	-	-	PUNCT
cblr-1719	151	71	vote	vote	NOUN
cblr-1719	151	72	policy	policy	NOUN
cblr-1719	151	73	.	.	PUNCT
cblr-1719	152	1	in	in	ADP
cblr-1719	152	2	august	august	PROPN
cblr-1719	152	3	2014	2014	NUM
cblr-1719	152	4	,	,	PUNCT
cblr-1719	152	5	hkex	hkex	PROPN
cblr-1719	152	6	issued	issue	VERB
cblr-1719	152	7	a	a	DET
cblr-1719	152	8	concept	concept	NOUN
cblr-1719	152	9	paper	paper	NOUN
cblr-1719	152	10	on	on	ADP
cblr-1719	152	11	weighted	weight	VERB
cblr-1719	152	12	voting	voting	NOUN
cblr-1719	152	13	rights	right	NOUN
cblr-1719	152	14	and	and	CCONJ
cblr-1719	152	15	solicited	solicit	VERB
cblr-1719	152	16	the	the	DET
cblr-1719	152	17	opinions	opinion	NOUN
cblr-1719	152	18	of	of	ADP
cblr-1719	152	19	market	market	NOUN
cblr-1719	152	20	participants.46	participants.46	NOUN
cblr-1719	152	21	in	in	ADP
cblr-1719	152	22	june	june	PROPN
cblr-1719	152	23	2015	2015	NUM
cblr-1719	152	24	,	,	PUNCT
cblr-1719	152	25	hkex	hkex	ADJ
cblr-1719	152	26	concluded	conclude	VERB
cblr-1719	152	27	,	,	PUNCT
cblr-1719	152	28	“	"	PUNCT
cblr-1719	152	29	generally	generally	ADV
cblr-1719	152	30	,	,	PUNCT
cblr-1719	152	31	‘	'	PUNCT
cblr-1719	152	32	one	one	NUM
cblr-1719	152	33	share	share	NOUN
cblr-1719	152	34	,	,	PUNCT
cblr-1719	152	35	one	one	NUM
cblr-1719	152	36	vote	vote	NOUN
cblr-1719	152	37	’	'	PUNCT
cblr-1719	152	38	39	39	NUM
cblr-1719	152	39	see	see	VERB
cblr-1719	152	40	infra	infra	NOUN
cblr-1719	152	41	text	text	NOUN
cblr-1719	152	42	accompanying	accompanying	ADJ
cblr-1719	152	43	notes	note	NOUN
cblr-1719	152	44	43–52	43–52	NUM
cblr-1719	152	45	.	.	PROPN
cblr-1719	153	1	40	40	NUM
cblr-1719	153	2	hong	hong	PROPN
cblr-1719	153	3	kong	kong	PROPN
cblr-1719	153	4	exchanges	exchange	NOUN
cblr-1719	153	5	&	&	CCONJ
cblr-1719	153	6	clearing	clearing	PROPN
cblr-1719	153	7	ltd	ltd	PROPN
cblr-1719	153	8	.	.	PROPN
cblr-1719	153	9	,	,	PUNCT
cblr-1719	153	10	supra	supra	PROPN
cblr-1719	153	11	note	note	PROPN
cblr-1719	153	12	17	17	NUM
cblr-1719	153	13	,	,	PUNCT
cblr-1719	153	14	at	at	ADP
cblr-1719	153	15	10	10	NUM
cblr-1719	153	16	.	.	PUNCT
cblr-1719	154	1	41	41	NUM
cblr-1719	155	1	i	i	PRON
cblr-1719	155	2	d.	d.	PROPN
cblr-1719	155	3	42	42	NUM
cblr-1719	156	1	i	i	PRON
cblr-1719	156	2	d.	d.	PROPN
cblr-1719	156	3	43	43	NUM
cblr-1719	156	4	see	see	VERB
cblr-1719	156	5	i	i	PRON
cblr-1719	156	6	d.	d.	PROPN
cblr-1719	156	7	44	44	NUM
cblr-1719	156	8	yu	yu	PROPN
cblr-1719	156	9	-	-	PROPN
cblr-1719	156	10	hsin	hsin	PROPN
cblr-1719	156	11	lin	lin	PROPN
cblr-1719	156	12	&	&	CCONJ
cblr-1719	156	13	thomas	thomas	PROPN
cblr-1719	156	14	mehaffy	mehaffy	PROPN
cblr-1719	156	15	,	,	PUNCT
cblr-1719	156	16	open	open	ADJ
cblr-1719	156	17	sesame	sesame	NOUN
cblr-1719	156	18	:	:	PUNCT
cblr-1719	156	19	the	the	DET
cblr-1719	156	20	myth	myth	NOUN
cblr-1719	156	21	of	of	ADP
cblr-1719	156	22	alibaba	alibaba	PROPN
cblr-1719	156	23	’s	’s	PART
cblr-1719	156	24	extreme	extreme	ADJ
cblr-1719	156	25	corporate	corporate	ADJ
cblr-1719	156	26	governance	governance	NOUN
cblr-1719	156	27	and	and	CCONJ
cblr-1719	156	28	control	control	NOUN
cblr-1719	156	29	,	,	PUNCT
cblr-1719	156	30	10	10	NUM
cblr-1719	156	31	brook	brook	NOUN
cblr-1719	156	32	.	.	PUNCT
cblr-1719	157	1	j.	j.	PROPN
cblr-1719	157	2	corp	corp	PROPN
cblr-1719	157	3	.	.	PROPN
cblr-1719	157	4	fin	fin	PROPN
cblr-1719	157	5	.	.	PUNCT
cblr-1719	157	6	&	&	CCONJ
cblr-1719	157	7	com	com	PROPN
cblr-1719	157	8	.	.	PROPN
cblr-1719	157	9	l.	l.	PROPN
cblr-1719	157	10	437	437	NUM
cblr-1719	157	11	,	,	PUNCT
cblr-1719	157	12	441–42	441–42	X
cblr-1719	157	13	(	(	PUNCT
cblr-1719	157	14	2016	2016	NUM
cblr-1719	157	15	)	)	PUNCT
cblr-1719	157	16	.	.	PUNCT
cblr-1719	158	1	45	45	NUM
cblr-1719	159	1	i	i	PROPN
cblr-1719	159	2	d.	d.	PROPN
cblr-1719	159	3	46	46	NUM
cblr-1719	159	4	hong	hong	PROPN
cblr-1719	159	5	kong	kong	PROPN
cblr-1719	159	6	exchanges	exchange	NOUN
cblr-1719	159	7	&	&	CCONJ
cblr-1719	159	8	clearing	clearing	PROPN
cblr-1719	159	9	ltd	ltd	PROPN
cblr-1719	159	10	.	.	PROPN
cblr-1719	159	11	,	,	PUNCT
cblr-1719	159	12	supra	supra	PROPN
cblr-1719	159	13	note	note	PROPN
cblr-1719	159	14	17	17	NUM
cblr-1719	159	15	.	.	PUNCT
cblr-1719	160	1	lin	lin	PROPN
cblr-1719	160	2	–	–	PUNCT
cblr-1719	160	3	final	final	ADJ
cblr-1719	160	4	no	no	NOUN
cblr-1719	160	5	.	.	PUNCT
cblr-1719	160	6	2:453	2:453	NUM
cblr-1719	160	7	]	]	X
cblr-1719	160	8	controlling	control	VERB
cblr-1719	160	9	-	-	PUNCT
cblr-1719	160	10	minority	minority	NOUN
cblr-1719	160	11	shareholders	shareholder	NOUN
cblr-1719	160	12	467	467	NUM
cblr-1719	160	13	should	should	AUX
cblr-1719	160	14	prevail	prevail	VERB
cblr-1719	160	15	but	but	CCONJ
cblr-1719	160	16	that	that	DET
cblr-1719	160	17	wvr	wvr	NOUN
cblr-1719	161	1	[	[	X
cblr-1719	161	2	weighted	weight	VERB
cblr-1719	161	3	voting	voting	NOUN
cblr-1719	161	4	rights	right	NOUN
cblr-1719	161	5	]	]	PUNCT
cblr-1719	161	6	structures	structure	NOUN
cblr-1719	161	7	should	should	AUX
cblr-1719	161	8	be	be	AUX
cblr-1719	161	9	allowed	allow	VERB
cblr-1719	161	10	for	for	ADP
cblr-1719	161	11	certain	certain	ADJ
cblr-1719	161	12	companies	company	NOUN
cblr-1719	161	13	in	in	ADP
cblr-1719	161	14	certain	certain	ADJ
cblr-1719	161	15	circumstances	circumstance	NOUN
cblr-1719	161	16	and	and	CCONJ
cblr-1719	161	17	with	with	ADP
cblr-1719	161	18	certain	certain	ADJ
cblr-1719	161	19	safeguards	safeguard	NOUN
cblr-1719	161	20	.	.	PUNCT
cblr-1719	162	1	”47	”47	PROPN
cblr-1719	162	2	however	however	ADV
cblr-1719	162	3	,	,	PUNCT
cblr-1719	162	4	the	the	DET
cblr-1719	162	5	securities	security	NOUN
cblr-1719	162	6	and	and	CCONJ
cblr-1719	162	7	futures	future	NOUN
cblr-1719	162	8	commission	commission	PROPN
cblr-1719	162	9	rejected	reject	VERB
cblr-1719	162	10	hkex	hkex	ADJ
cblr-1719	162	11	’s	’s	PART
cblr-1719	162	12	proposal	proposal	NOUN
cblr-1719	162	13	on	on	ADP
cblr-1719	162	14	the	the	DET
cblr-1719	162	15	basis	basis	NOUN
cblr-1719	162	16	that	that	SCONJ
cblr-1719	162	17	safeguards	safeguard	NOUN
cblr-1719	162	18	and	and	CCONJ
cblr-1719	162	19	conditions	condition	NOUN
cblr-1719	162	20	might	might	AUX
cblr-1719	162	21	not	not	PART
cblr-1719	162	22	be	be	AUX
cblr-1719	162	23	monitored	monitor	VERB
cblr-1719	162	24	on	on	ADP
cblr-1719	162	25	an	an	DET
cblr-1719	162	26	ongoing	ongoing	ADJ
cblr-1719	162	27	basis.48	basis.48	NOUN
cblr-1719	162	28	in	in	ADP
cblr-1719	162	29	october	october	PROPN
cblr-1719	162	30	2015	2015	NUM
cblr-1719	162	31	,	,	PUNCT
cblr-1719	162	32	hkex	hkex	ADJ
cblr-1719	162	33	finally	finally	ADV
cblr-1719	162	34	decided	decide	VERB
cblr-1719	162	35	to	to	PART
cblr-1719	162	36	abandon	abandon	VERB
cblr-1719	162	37	its	its	PRON
cblr-1719	162	38	proposal	proposal	NOUN
cblr-1719	162	39	to	to	PART
cblr-1719	162	40	allow	allow	VERB
cblr-1719	162	41	a	a	DET
cblr-1719	162	42	dualclass	dualclass	NOUN
cblr-1719	162	43	share	share	NOUN
cblr-1719	162	44	structure	structure	NOUN
cblr-1719	162	45	and	and	CCONJ
cblr-1719	162	46	to	to	PART
cblr-1719	162	47	continue	continue	VERB
cblr-1719	162	48	to	to	PART
cblr-1719	162	49	strictly	strictly	ADV
cblr-1719	162	50	uphold	uphold	VERB
cblr-1719	162	51	the	the	DET
cblr-1719	162	52	one	one	NUM
cblr-1719	162	53	-	-	PUNCT
cblr-1719	162	54	share	share	NOUN
cblr-1719	162	55	one	one	NUM
cblr-1719	162	56	-	-	PUNCT
cblr-1719	162	57	vote	vote	NOUN
cblr-1719	162	58	rule	rule	NOUN
cblr-1719	162	59	for	for	ADP
cblr-1719	162	60	future	future	ADJ
cblr-1719	162	61	listings.49	listings.49	PROPN
cblr-1719	162	62	in	in	ADP
cblr-1719	162	63	contrast	contrast	NOUN
cblr-1719	162	64	to	to	ADP
cblr-1719	162	65	hong	hong	PROPN
cblr-1719	162	66	kong	kong	PROPN
cblr-1719	162	67	,	,	PUNCT
cblr-1719	162	68	singapore	singapore	PROPN
cblr-1719	162	69	has	have	AUX
cblr-1719	162	70	been	be	AUX
cblr-1719	162	71	more	more	ADV
cblr-1719	162	72	aggressive	aggressive	ADJ
cblr-1719	162	73	in	in	ADP
cblr-1719	162	74	competing	compete	VERB
cblr-1719	162	75	for	for	ADP
cblr-1719	162	76	international	international	ADJ
cblr-1719	162	77	equity	equity	NOUN
cblr-1719	162	78	offerings	offering	NOUN
cblr-1719	162	79	.	.	PUNCT
cblr-1719	163	1	on	on	ADP
cblr-1719	163	2	august	august	PROPN
cblr-1719	163	3	29	29	NUM
cblr-1719	163	4	,	,	PUNCT
cblr-1719	163	5	2016	2016	NUM
cblr-1719	163	6	,	,	PUNCT
cblr-1719	163	7	the	the	DET
cblr-1719	163	8	singapore	singapore	PROPN
cblr-1719	163	9	exchange	exchange	PROPN
cblr-1719	163	10	’s	’s	PART
cblr-1719	163	11	listings	listing	NOUN
cblr-1719	163	12	advisory	advisory	PROPN
cblr-1719	163	13	committee	committee	NOUN
cblr-1719	163	14	approved	approve	VERB
cblr-1719	163	15	the	the	DET
cblr-1719	163	16	proposal	proposal	NOUN
cblr-1719	163	17	to	to	PART
cblr-1719	163	18	allow	allow	VERB
cblr-1719	163	19	listing	list	VERB
cblr-1719	163	20	companies	company	NOUN
cblr-1719	163	21	to	to	PART
cblr-1719	163	22	have	have	VERB
cblr-1719	163	23	dual	dual	ADJ
cblr-1719	163	24	-	-	PUNCT
cblr-1719	163	25	class	class	NOUN
cblr-1719	163	26	shares	share	NOUN
cblr-1719	163	27	.	.	PUNCT
cblr-1719	164	1	50	50	NUM
cblr-1719	164	2	singapore	singapore	NOUN
cblr-1719	164	3	has	have	AUX
cblr-1719	164	4	debated	debate	VERB
cblr-1719	164	5	this	this	DET
cblr-1719	164	6	issue	issue	NOUN
cblr-1719	164	7	ever	ever	ADV
cblr-1719	164	8	since	since	SCONJ
cblr-1719	164	9	manchester	manchester	PROPN
cblr-1719	164	10	united	united	PROPN
cblr-1719	164	11	considered	consider	VERB
cblr-1719	164	12	listing	list	VERB
cblr-1719	164	13	there	there	ADV
cblr-1719	164	14	in	in	ADP
cblr-1719	164	15	2011	2011	NUM
cblr-1719	164	16	but	but	CCONJ
cblr-1719	164	17	eventually	eventually	ADV
cblr-1719	164	18	listed	list	VERB
cblr-1719	164	19	in	in	ADP
cblr-1719	164	20	the	the	DET
cblr-1719	164	21	united	united	PROPN
cblr-1719	164	22	states	states	PROPN
cblr-1719	164	23	under	under	ADP
cblr-1719	164	24	a	a	DET
cblr-1719	164	25	dual	dual	ADJ
cblr-1719	164	26	-	-	PUNCT
cblr-1719	164	27	class	class	NOUN
cblr-1719	164	28	share	share	NOUN
cblr-1719	164	29	structure.51	structure.51	NOUN
cblr-1719	164	30	traditionally	traditionally	ADV
cblr-1719	164	31	,	,	PUNCT
cblr-1719	164	32	singapore	singapore	PROPN
cblr-1719	164	33	has	have	AUX
cblr-1719	164	34	followed	follow	VERB
cblr-1719	164	35	the	the	DET
cblr-1719	164	36	commonwealth	commonwealth	NOUN
cblr-1719	164	37	approach	approach	NOUN
cblr-1719	164	38	,	,	PUNCT
cblr-1719	164	39	where	where	SCONJ
cblr-1719	164	40	only	only	ADJ
cblr-1719	164	41	private	private	ADJ
cblr-1719	164	42	companies	company	NOUN
cblr-1719	164	43	are	be	AUX
cblr-1719	164	44	allowed	allow	VERB
cblr-1719	164	45	to	to	PART
cblr-1719	164	46	have	have	VERB
cblr-1719	164	47	dual	dual	ADJ
cblr-1719	164	48	-	-	PUNCT
cblr-1719	164	49	class	class	NOUN
cblr-1719	164	50	shares	share	NOUN
cblr-1719	164	51	.	.	PUNCT
cblr-1719	165	1	to	to	PART
cblr-1719	165	2	pave	pave	VERB
cblr-1719	165	3	the	the	DET
cblr-1719	165	4	way	way	NOUN
cblr-1719	165	5	for	for	ADP
cblr-1719	165	6	the	the	DET
cblr-1719	165	7	change	change	NOUN
cblr-1719	165	8	,	,	PUNCT
cblr-1719	165	9	the	the	DET
cblr-1719	165	10	singapore	singapore	PROPN
cblr-1719	165	11	companies	company	NOUN
cblr-1719	165	12	act	act	VERB
cblr-1719	165	13	was	be	AUX
cblr-1719	165	14	amended	amend	VERB
cblr-1719	165	15	and	and	CCONJ
cblr-1719	165	16	took	take	VERB
cblr-1719	165	17	effect	effect	NOUN
cblr-1719	165	18	in	in	ADP
cblr-1719	165	19	early	early	ADJ
cblr-1719	165	20	2016	2016	NUM
cblr-1719	165	21	,	,	PUNCT
cblr-1719	165	22	allowing	allow	VERB
cblr-1719	165	23	public	public	ADJ
cblr-1719	165	24	companies	company	NOUN
cblr-1719	165	25	to	to	PART
cblr-1719	165	26	have	have	VERB
cblr-1719	165	27	different	different	ADJ
cblr-1719	165	28	classes	class	NOUN
cblr-1719	165	29	of	of	ADP
cblr-1719	165	30	shares	share	NOUN
cblr-1719	165	31	that	that	PRON
cblr-1719	165	32	confer	confer	VERB
cblr-1719	165	33	different	different	ADJ
cblr-1719	165	34	voting	voting	NOUN
cblr-1719	165	35	rights	right	NOUN
cblr-1719	165	36	,	,	PUNCT
cblr-1719	165	37	including	include	VERB
cblr-1719	165	38	dual	dual	ADJ
cblr-1719	165	39	-	-	PUNCT
cblr-1719	165	40	class	class	NOUN
cblr-1719	165	41	47	47	NUM
cblr-1719	165	42	hong	hong	PROPN
cblr-1719	165	43	kong	kong	PROPN
cblr-1719	165	44	exchanges	exchange	NOUN
cblr-1719	165	45	&	&	CCONJ
cblr-1719	165	46	clearing	clearing	PROPN
cblr-1719	165	47	ltd	ltd	PROPN
cblr-1719	165	48	.	.	PROPN
cblr-1719	165	49	,	,	PUNCT
cblr-1719	165	50	consultation	consultation	NOUN
cblr-1719	165	51	conclusions	conclusion	NOUN
cblr-1719	165	52	to	to	PART
cblr-1719	165	53	concept	concept	VERB
cblr-1719	165	54	paper	paper	NOUN
cblr-1719	165	55	on	on	ADP
cblr-1719	165	56	weighted	weight	VERB
cblr-1719	165	57	voting	voting	NOUN
cblr-1719	165	58	rights	right	NOUN
cblr-1719	165	59	3	3	NUM
cblr-1719	165	60	(	(	PUNCT
cblr-1719	165	61	2015	2015	NUM
cblr-1719	165	62	)	)	PUNCT
cblr-1719	165	63	.	.	PUNCT
cblr-1719	166	1	48	48	NUM
cblr-1719	166	2	sfc	sfc	NOUN
cblr-1719	166	3	statement	statement	NOUN
cblr-1719	166	4	on	on	ADP
cblr-1719	166	5	the	the	DET
cblr-1719	166	6	sehk	sehk	NOUN
cblr-1719	166	7	’s	’s	PART
cblr-1719	166	8	draft	draft	NOUN
cblr-1719	166	9	proposal	proposal	NOUN
cblr-1719	166	10	on	on	ADP
cblr-1719	166	11	weighted	weight	VERB
cblr-1719	166	12	voting	voting	NOUN
cblr-1719	166	13	rights	right	NOUN
cblr-1719	166	14	,	,	PUNCT
cblr-1719	166	15	sec	sec	PROPN
cblr-1719	166	16	.	.	PROPN
cblr-1719	166	17	&	&	CCONJ
cblr-1719	166	18	futures	future	NOUN
cblr-1719	166	19	comm’n	comm’n	NOUN
cblr-1719	166	20	(	(	PUNCT
cblr-1719	166	21	june	june	PROPN
cblr-1719	166	22	25	25	NUM
cblr-1719	166	23	,	,	PUNCT
cblr-1719	166	24	2015	2015	NUM
cblr-1719	166	25	)	)	PUNCT
cblr-1719	166	26	,	,	PUNCT
cblr-1719	166	27	https://www.sfc.hk/edistributionweb/gateway/en/news-andannouncements/news/doc?refno=15pr69	https://www.sfc.hk/edistributionweb/gateway/en/news-andannouncements/news/doc?refno=15pr69	X
cblr-1719	166	28	.	.	PROPN
cblr-1719	166	29	49	49	NUM
cblr-1719	166	30	jennifer	jennifer	PROPN
cblr-1719	166	31	hughes	hughes	PROPN
cblr-1719	166	32	,	,	PUNCT
cblr-1719	166	33	hong	hong	PROPN
cblr-1719	166	34	kong	kong	PROPN
cblr-1719	166	35	puts	put	VERB
cblr-1719	166	36	shareholder	shareholder	NOUN
cblr-1719	166	37	rights	right	NOUN
cblr-1719	166	38	ahead	ahead	ADV
cblr-1719	166	39	of	of	ADP
cblr-1719	166	40	desire	desire	NOUN
cblr-1719	166	41	for	for	ADP
cblr-1719	166	42	ipos	ipos	NOUN
cblr-1719	166	43	,	,	PUNCT
cblr-1719	166	44	fin	fin	PROPN
cblr-1719	166	45	.	.	PUNCT
cblr-1719	167	1	times	times	PROPN
cblr-1719	167	2	(	(	PUNCT
cblr-1719	167	3	oct	oct	PROPN
cblr-1719	167	4	.	.	PROPN
cblr-1719	167	5	5	5	NUM
cblr-1719	167	6	,	,	PUNCT
cblr-1719	167	7	2015	2015	NUM
cblr-1719	167	8	)	)	PUNCT
cblr-1719	167	9	,	,	PUNCT
cblr-1719	167	10	http://www.ft.com/cms/s/0/	http://www.ft.com/cms/s/0/	NOUN
cblr-1719	167	11	7b8a1732-6b4a-11e5-aca9-d87542bf8673.html#axzz3nkfpkrnh	7b8a1732-6b4a-11e5-aca9-d87542bf8673.html#axzz3nkfpkrnh	NUM
cblr-1719	167	12	.	.	PROPN
cblr-1719	167	13	50	50	NUM
cblr-1719	167	14	andrea	andrea	PROPN
cblr-1719	167	15	tan	tan	PROPN
cblr-1719	167	16	,	,	PUNCT
cblr-1719	167	17	joyce	joyce	PROPN
cblr-1719	167	18	koh	koh	PROPN
cblr-1719	167	19	&	&	CCONJ
cblr-1719	167	20	yoolim	yoolim	PROPN
cblr-1719	167	21	lee	lee	PROPN
cblr-1719	167	22	,	,	PUNCT
cblr-1719	167	23	singapore	singapore	PROPN
cblr-1719	167	24	’s	’s	PART
cblr-1719	167	25	dual	dual	ADJ
cblr-1719	167	26	-	-	PUNCT
cblr-1719	167	27	class	class	NOUN
cblr-1719	167	28	shares	share	NOUN
cblr-1719	167	29	change	change	NOUN
cblr-1719	167	30	looks	look	VERB
cblr-1719	167	31	like	like	ADP
cblr-1719	167	32	just	just	ADV
cblr-1719	167	33	a	a	DET
cblr-1719	167	34	first	first	ADJ
cblr-1719	167	35	step	step	NOUN
cblr-1719	167	36	,	,	PUNCT
cblr-1719	167	37	bloomberg	bloomberg	PROPN
cblr-1719	167	38	(	(	PUNCT
cblr-1719	167	39	aug	aug	PROPN
cblr-1719	167	40	.	.	PROPN
cblr-1719	167	41	29	29	NUM
cblr-1719	167	42	,	,	PUNCT
cblr-1719	167	43	2016	2016	NUM
cblr-1719	167	44	,	,	PUNCT
cblr-1719	167	45	6:44	6:44	NUM
cblr-1719	167	46	am	am	NOUN
cblr-1719	167	47	)	)	PUNCT
cblr-1719	167	48	,	,	PUNCT
cblr-1719	167	49	http://www.bloomberg.com/news/articles/2016-08-29/singapores-dual-class-shares-move-wins-nod-from-listings-group	http://www.bloomberg.com/news/articles/2016-08-29/singapores-dual-class-shares-move-wins-nod-from-listings-group	X
cblr-1719	168	1	[	[	X
cblr-1719	168	2	https://perma.cc/d4gd-xam7	https://perma.cc/d4gd-xam7	X
cblr-1719	168	3	]	]	PUNCT
cblr-1719	168	4	.	.	PUNCT
cblr-1719	169	1	51	51	NUM
cblr-1719	170	1	i	i	PRON
cblr-1719	170	2	d.	d.	PROPN
cblr-1719	170	3	lin	lin	PROPN
cblr-1719	170	4	–	–	PUNCT
cblr-1719	170	5	final	final	ADJ
cblr-1719	170	6	468	468	NUM
cblr-1719	170	7	columbia	columbia	PROPN
cblr-1719	170	8	business	business	NOUN
cblr-1719	170	9	law	law	PROPN
cblr-1719	170	10	review	review	NOUN
cblr-1719	171	1	[	[	X
cblr-1719	171	2	vol	vol	NOUN
cblr-1719	171	3	.	.	NOUN
cblr-1719	171	4	2017	2017	NUM
cblr-1719	171	5	shares.52	shares.52	NOUN
cblr-1719	171	6	following	follow	VERB
cblr-1719	171	7	hong	hong	PROPN
cblr-1719	171	8	kong	kong	PROPN
cblr-1719	171	9	’s	’s	PART
cblr-1719	171	10	rejection	rejection	NOUN
cblr-1719	171	11	of	of	ADP
cblr-1719	171	12	the	the	DET
cblr-1719	171	13	dual	dual	ADJ
cblr-1719	171	14	-	-	PUNCT
cblr-1719	171	15	class	class	NOUN
cblr-1719	171	16	share	share	NOUN
cblr-1719	171	17	structure	structure	NOUN
cblr-1719	171	18	,	,	PUNCT
cblr-1719	171	19	market	market	NOUN
cblr-1719	171	20	observers	observer	NOUN
cblr-1719	171	21	expect	expect	VERB
cblr-1719	171	22	singapore	singapore	PROPN
cblr-1719	171	23	to	to	PART
cblr-1719	171	24	fill	fill	VERB
cblr-1719	171	25	the	the	DET
cblr-1719	171	26	gap	gap	NOUN
cblr-1719	171	27	and	and	CCONJ
cblr-1719	171	28	attract	attract	VERB
cblr-1719	171	29	more	more	ADJ
cblr-1719	171	30	international	international	ADJ
cblr-1719	171	31	equity	equity	NOUN
cblr-1719	171	32	offerings.53	offerings.53	PROPN
cblr-1719	171	33	as	as	ADP
cblr-1719	171	34	for	for	ADP
cblr-1719	171	35	china	china	PROPN
cblr-1719	171	36	,	,	PUNCT
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cblr-1719	171	38	state	state	PROPN
cblr-1719	171	39	council	council	PROPN
cblr-1719	171	40	and	and	CCONJ
cblr-1719	171	41	shanghai	shanghai	PROPN
cblr-1719	171	42	stock	stock	PROPN
cblr-1719	171	43	exchange	exchange	PROPN
cblr-1719	171	44	had	have	AUX
cblr-1719	171	45	considered	consider	VERB
cblr-1719	171	46	opening	open	VERB
cblr-1719	171	47	the	the	DET
cblr-1719	171	48	market	market	NOUN
cblr-1719	171	49	to	to	PART
cblr-1719	171	50	foreignregistered	foreignregistere	VERB
cblr-1719	171	51	chinese	chinese	ADJ
cblr-1719	171	52	firms	firm	NOUN
cblr-1719	171	53	that	that	PRON
cblr-1719	171	54	have	have	VERB
cblr-1719	171	55	a	a	DET
cblr-1719	171	56	dual	dual	ADJ
cblr-1719	171	57	-	-	PUNCT
cblr-1719	171	58	class	class	NOUN
cblr-1719	171	59	share	share	NOUN
cblr-1719	171	60	structure	structure	NOUN
cblr-1719	171	61	to	to	PART
cblr-1719	171	62	encourage	encourage	VERB
cblr-1719	171	63	entrepreneurship	entrepreneurship	NOUN
cblr-1719	171	64	and	and	CCONJ
cblr-1719	171	65	innovation	innovation	NOUN
cblr-1719	171	66	and	and	CCONJ
cblr-1719	171	67	the	the	DET
cblr-1719	171	68	return	return	NOUN
cblr-1719	171	69	of	of	ADP
cblr-1719	171	70	foreign	foreign	ADJ
cblr-1719	171	71	-	-	PUNCT
cblr-1719	171	72	listed	list	VERB
cblr-1719	171	73	chinese	chinese	PROPN
cblr-1719	171	74	firms.54	firms.54	VERB
cblr-1719	171	75	as	as	ADP
cblr-1719	171	76	of	of	ADP
cblr-1719	171	77	may	may	PROPN
cblr-1719	171	78	2014	2014	NUM
cblr-1719	171	79	,	,	PUNCT
cblr-1719	171	80	102	102	NUM
cblr-1719	171	81	chinese	chinese	ADJ
cblr-1719	171	82	companies	company	NOUN
cblr-1719	171	83	listed	list	VERB
cblr-1719	171	84	their	their	PRON
cblr-1719	171	85	shares	share	NOUN
cblr-1719	171	86	on	on	ADP
cblr-1719	171	87	u.s	u.s	PROPN
cblr-1719	171	88	.	.	PROPN
cblr-1719	171	89	stock	stock	NOUN
cblr-1719	171	90	exchanges	exchange	NOUN
cblr-1719	171	91	;	;	PUNCT
cblr-1719	171	92	among	among	ADP
cblr-1719	171	93	them	they	PRON
cblr-1719	171	94	,	,	PUNCT
cblr-1719	171	95	almost	almost	ADV
cblr-1719	171	96	one	one	NUM
cblr-1719	171	97	-	-	PUNCT
cblr-1719	171	98	third	third	NOUN
cblr-1719	171	99	(	(	PUNCT
cblr-1719	171	100	30	30	NUM
cblr-1719	171	101	out	out	ADP
cblr-1719	171	102	of	of	ADP
cblr-1719	171	103	102	102	NUM
cblr-1719	171	104	)	)	PUNCT
cblr-1719	171	105	had	have	VERB
cblr-1719	171	106	dual	dual	ADJ
cblr-1719	171	107	-	-	PUNCT
cblr-1719	171	108	class	class	NOUN
cblr-1719	171	109	share	share	NOUN
cblr-1719	171	110	structures.55	structures.55	NOUN
cblr-1719	171	111	this	this	DET
cblr-1719	171	112	third	third	ADV
cblr-1719	171	113	represents	represent	VERB
cblr-1719	171	114	70	70	NUM
cblr-1719	171	115	%	%	NOUN
cblr-1719	171	116	of	of	ADP
cblr-1719	171	117	the	the	DET
cblr-1719	171	118	market	market	NOUN
cblr-1719	171	119	capitalization	capitalization	NOUN
cblr-1719	171	120	of	of	ADP
cblr-1719	171	121	all	all	DET
cblr-1719	171	122	u.s.-listed	u.s.-listed	ADJ
cblr-1719	171	123	chinese	chinese	ADJ
cblr-1719	171	124	firms.56	firms.56	PROPN
cblr-1719	171	125	however	however	ADV
cblr-1719	171	126	,	,	PUNCT
cblr-1719	171	127	this	this	DET
cblr-1719	171	128	proposal	proposal	NOUN
cblr-1719	171	129	has	have	AUX
cblr-1719	171	130	not	not	PART
cblr-1719	171	131	been	be	AUX
cblr-1719	171	132	put	put	VERB
cblr-1719	171	133	into	into	ADP
cblr-1719	171	134	practice	practice	NOUN
cblr-1719	171	135	so	so	ADV
cblr-1719	171	136	far	far	ADV
cblr-1719	171	137	.	.	PUNCT
cblr-1719	172	1	that	that	PRON
cblr-1719	172	2	being	be	AUX
cblr-1719	172	3	said	say	VERB
cblr-1719	172	4	,	,	PUNCT
cblr-1719	172	5	the	the	DET
cblr-1719	172	6	policy	policy	NOUN
cblr-1719	172	7	debate	debate	NOUN
cblr-1719	172	8	over	over	ADP
cblr-1719	172	9	the	the	DET
cblr-1719	172	10	relaxation	relaxation	NOUN
cblr-1719	172	11	of	of	ADP
cblr-1719	172	12	the	the	DET
cblr-1719	172	13	one	one	NUM
cblr-1719	172	14	-	-	PUNCT
cblr-1719	172	15	share	share	NOUN
cblr-1719	172	16	one	one	NUM
cblr-1719	172	17	-	-	PUNCT
cblr-1719	172	18	vote	vote	NOUN
cblr-1719	172	19	principle	principle	NOUN
cblr-1719	172	20	in	in	ADP
cblr-1719	172	21	china	china	PROPN
cblr-1719	172	22	is	be	AUX
cblr-1719	172	23	still	still	ADV
cblr-1719	172	24	ongoing	ongoing	ADJ
cblr-1719	172	25	.	.	PUNCT
cblr-1719	173	1	whether	whether	SCONJ
cblr-1719	173	2	due	due	ADP
cblr-1719	173	3	to	to	ADP
cblr-1719	173	4	the	the	DET
cblr-1719	173	5	purpose	purpose	NOUN
cblr-1719	173	6	of	of	ADP
cblr-1719	173	7	encouraging	encourage	VERB
cblr-1719	173	8	long	long	ADJ
cblr-1719	173	9	-	-	PUNCT
cblr-1719	173	10	term	term	NOUN
cblr-1719	173	11	focus	focus	NOUN
cblr-1719	173	12	in	in	ADP
cblr-1719	173	13	public	public	ADJ
cblr-1719	173	14	companies	company	NOUN
cblr-1719	173	15	or	or	CCONJ
cblr-1719	173	16	of	of	ADP
cblr-1719	173	17	providing	provide	VERB
cblr-1719	173	18	more	more	ADJ
cblr-1719	173	19	equity	equity	NOUN
cblr-1719	173	20	financing	financing	NOUN
cblr-1719	173	21	options	option	NOUN
cblr-1719	173	22	to	to	PART
cblr-1719	173	23	start	start	VERB
cblr-1719	173	24	-	-	PUNCT
cblr-1719	173	25	up	up	ADP
cblr-1719	173	26	companies	company	NOUN
cblr-1719	173	27	,	,	PUNCT
cblr-1719	173	28	the	the	DET
cblr-1719	173	29	trend	trend	NOUN
cblr-1719	173	30	towards	towards	ADP
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cblr-1719	173	32	diverse	diverse	ADJ
cblr-1719	173	33	corporate	corporate	ADJ
cblr-1719	173	34	control	control	NOUN
cblr-1719	173	35	design	design	NOUN
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cblr-1719	173	37	inevitable.57	inevitable.57	ADJ
cblr-1719	173	38	52	52	NUM
cblr-1719	173	39	companies	company	NOUN
cblr-1719	173	40	(	(	PUNCT
cblr-1719	173	41	amendment	amendment	NOUN
cblr-1719	173	42	)	)	PUNCT
cblr-1719	173	43	act	act	NOUN
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cblr-1719	173	45	,	,	PUNCT
cblr-1719	173	46	§	§	PROPN
cblr-1719	173	47	64a	64a	NOUN
cblr-1719	173	48	(	(	PUNCT
cblr-1719	173	49	no	no	INTJ
cblr-1719	173	50	.	.	NOUN
cblr-1719	173	51	36	36	NUM
cblr-1719	173	52	of	of	ADP
cblr-1719	173	53	2014	2014	NUM
cblr-1719	173	54	)	)	PUNCT
cblr-1719	173	55	;	;	PUNCT
cblr-1719	173	56	jacqueline	jacqueline	PROPN
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cblr-1719	173	58	,	,	PUNCT
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cblr-1719	173	60	-	-	PUNCT
cblr-1719	173	61	class	class	NOUN
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cblr-1719	173	64	help	help	VERB
cblr-1719	173	65	boost	boost	VERB
cblr-1719	173	66	local	local	ADJ
cblr-1719	173	67	market	market	NOUN
cblr-1719	173	68	,	,	PUNCT
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cblr-1719	173	70	times	time	NOUN
cblr-1719	173	71	(	(	PUNCT
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cblr-1719	173	77	,	,	PUNCT
cblr-1719	173	78	5:00	5:00	NUM
cblr-1719	173	79	am	am	NOUN
cblr-1719	173	80	)	)	PUNCT
cblr-1719	173	81	,	,	PUNCT
cblr-1719	173	82	http://www.straitstimes.com/	http://www.straitstimes.com/	NOUN
cblr-1719	173	83	business	business	NOUN
cblr-1719	173	84	/	/	SYM
cblr-1719	173	85	companies	company	NOUN
cblr-1719	173	86	-	-	PUNCT
cblr-1719	173	87	markets	market	NOUN
cblr-1719	173	88	/	/	SYM
cblr-1719	173	89	dual	dual	ADJ
cblr-1719	173	90	-	-	PUNCT
cblr-1719	173	91	class	class	NOUN
cblr-1719	173	92	-	-	PUNCT
cblr-1719	173	93	shares	share	NOUN
cblr-1719	173	94	-	-	PUNCT
cblr-1719	173	95	could	could	AUX
cblr-1719	173	96	-	-	PUNCT
cblr-1719	173	97	help	help	VERB
cblr-1719	173	98	-	-	PUNCT
cblr-1719	173	99	boost	boost	NOUN
cblr-1719	173	100	-	-	PUNCT
cblr-1719	173	101	localmarket	localmarket	NOUN
cblr-1719	174	1	[	[	X
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cblr-1719	174	4	.	.	PUNCT
cblr-1719	175	1	53	53	NUM
cblr-1719	176	1	i	i	PRON
cblr-1719	176	2	d.	d.	PROPN
cblr-1719	176	3	54	54	NUM
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cblr-1719	176	7	of	of	ADP
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cblr-1719	176	27	and	and	CCONJ
cblr-1719	176	28	innovation	innovation	NOUN
cblr-1719	176	29	(	(	PUNCT
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cblr-1719	179	1	[	[	X
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cblr-1719	179	7	(	(	PUNCT
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cblr-1719	180	3	xinchun	xinchun	PROPN
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cblr-1719	180	9	dual	dual	ADJ
cblr-1719	180	10	-	-	PUNCT
cblr-1719	180	11	class	class	NOUN
cblr-1719	180	12	share	share	NOUN
cblr-1719	180	13	structures	structure	NOUN
cblr-1719	180	14	to	to	PART
cblr-1719	180	15	adapt	adapt	VERB
cblr-1719	180	16	to	to	ADP
cblr-1719	180	17	new	new	ADJ
cblr-1719	180	18	corporate	corporate	ADJ
cblr-1719	180	19	governance	governance	NOUN
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cblr-1719	180	21	(	(	PUNCT
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cblr-1719	180	41	(	(	PUNCT
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cblr-1719	180	60	.	.	PUNCT
cblr-1719	181	1	55	55	NUM
cblr-1719	181	2	hong	hong	PROPN
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cblr-1719	181	9	,	,	PUNCT
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cblr-1719	181	11	note	note	PROPN
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cblr-1719	181	16	.	.	PUNCT
cblr-1719	182	1	56	56	NUM
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cblr-1719	185	3	,	,	PUNCT
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cblr-1719	186	1	2:453	2:453	NUM
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cblr-1719	186	4	-	-	PUNCT
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cblr-1719	186	9	.	.	PUNCT
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cblr-1719	187	8	-	-	PUNCT
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cblr-1719	187	19	been	be	AUX
cblr-1719	187	20	a	a	DET
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cblr-1719	187	22	towards	towards	ADP
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cblr-1719	187	24	multiple	multiple	ADJ
cblr-1719	187	25	voting	voting	NOUN
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cblr-1719	187	30	-	-	PUNCT
cblr-1719	187	31	term	term	NOUN
cblr-1719	187	32	investment	investment	NOUN
cblr-1719	187	33	.	.	PUNCT
cblr-1719	188	1	france	france	PROPN
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cblr-1719	188	3	the	the	DET
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cblr-1719	188	6	in	in	ADP
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cblr-1719	188	14	-	-	PUNCT
cblr-1719	188	15	123	123	NUM
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cblr-1719	188	18	french	french	ADJ
cblr-1719	188	19	commercial	commercial	ADJ
cblr-1719	188	20	code	code	NOUN
cblr-1719	188	21	,	,	PUNCT
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cblr-1719	188	23	it	it	PRON
cblr-1719	188	24	a	a	DET
cblr-1719	188	25	default	default	NOUN
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cblr-1719	188	28	shareholders	shareholder	NOUN
cblr-1719	188	29	who	who	PRON
cblr-1719	188	30	hold	hold	VERB
cblr-1719	188	31	shares	share	NOUN
cblr-1719	188	32	for	for	ADP
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cblr-1719	188	40	double	double	ADJ
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cblr-1719	188	42	rights	right	NOUN
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cblr-1719	188	44	two	two	NUM
cblr-1719	188	45	-	-	PUNCT
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cblr-1719	188	49	agree	agree	VERB
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cblr-1719	188	59	with	with	ADP
cblr-1719	188	60	double	double	ADJ
cblr-1719	188	61	voting	voting	NOUN
cblr-1719	188	62	rights	right	NOUN
cblr-1719	188	63	to	to	PART
cblr-1719	188	64	encourage	encourage	VERB
cblr-1719	188	65	long	long	ADJ
cblr-1719	188	66	-	-	PUNCT
cblr-1719	188	67	term	term	NOUN
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cblr-1719	188	69	.	.	PUNCT
cblr-1719	189	1	before	before	SCONJ
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cblr-1719	189	6	,	,	PUNCT
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cblr-1719	189	15	voting	voting	NOUN
cblr-1719	189	16	,	,	PUNCT
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cblr-1719	189	22	-	-	PUNCT
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cblr-1719	189	24	one	one	NUM
cblr-1719	189	25	-	-	PUNCT
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cblr-1719	189	42	-	-	PUNCT
cblr-1719	189	43	phased	phased	ADJ
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cblr-1719	189	45	a	a	DET
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cblr-1719	189	48	,	,	PUNCT
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cblr-1719	189	59	by	by	ADP
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cblr-1719	189	73	-	-	PUNCT
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cblr-1719	189	79	and	and	CCONJ
cblr-1719	189	80	34	34	NUM
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cblr-1719	189	83	.	.	PUNCT
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cblr-1719	190	3	-	-	PUNCT
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cblr-1719	190	11	;	;	PUNCT
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cblr-1719	190	18	the	the	DET
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cblr-1719	191	21	-	-	PUNCT
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cblr-1719	191	37	(	(	PUNCT
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cblr-1719	194	1	(	(	PUNCT
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cblr-1719	194	10	,	,	PUNCT
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cblr-1719	196	4	-	-	SYM
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cblr-1719	196	18	-	-	SYM
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cblr-1719	199	1	7	7	X
cblr-1719	199	2	,	,	PUNCT
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cblr-1719	199	5	=	=	NOUN
cblr-1719	199	6	jorftext000028811102&d	jorftext000028811102&d	NOUN
cblr-1719	199	7	atetexte=&oldaction	atetexte=&oldaction	NOUN
cblr-1719	199	8	=	=	SYM
cblr-1719	199	9	rechjo&categorielien	rechjo&categorielien	NOUN
cblr-1719	199	10	=	=	NOUN
cblr-1719	199	11	id&idjo	id&idjo	NOUN
cblr-1719	199	12	=	=	ADJ
cblr-1719	199	13	jorfcont00002	jorfcont00002	NOUN
cblr-1719	199	14	8811093	8811093	NUM
cblr-1719	200	1	[	[	X
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cblr-1719	200	4	.	.	PUNCT
cblr-1719	201	1	59	59	NUM
cblr-1719	201	2	kevin	kevin	PROPN
cblr-1719	201	3	de	de	PROPN
cblr-1719	201	4	pril	pril	PROPN
cblr-1719	201	5	et	et	PROPN
cblr-1719	201	6	al	al	PROPN
cblr-1719	201	7	.	.	PROPN
cblr-1719	201	8	,	,	PUNCT
cblr-1719	201	9	iss	iss	PROPN
cblr-1719	201	10	,	,	PUNCT
cblr-1719	201	11	european	european	ADJ
cblr-1719	201	12	voting	voting	NOUN
cblr-1719	201	13	results	result	NOUN
cblr-1719	201	14	report	report	VERB
cblr-1719	201	15	:	:	PUNCT
cblr-1719	201	16	2015	2015	NUM
cblr-1719	201	17	update	update	NOUN
cblr-1719	201	18	21	21	NUM
cblr-1719	201	19	(	(	PUNCT
cblr-1719	201	20	2015	2015	NUM
cblr-1719	201	21	)	)	PUNCT
cblr-1719	201	22	.	.	PUNCT
cblr-1719	202	1	60	60	NUM
cblr-1719	203	1	i	i	PRON
cblr-1719	203	2	d.	d.	PROPN
cblr-1719	203	3	61	61	NUM
cblr-1719	203	4	i	i	PRON
cblr-1719	203	5	d.	d.	PROPN
cblr-1719	203	6	at	at	ADP
cblr-1719	203	7	22	22	NUM
cblr-1719	203	8	.	.	PUNCT
cblr-1719	204	1	62	62	NUM
cblr-1719	205	1	i	i	PRON
cblr-1719	205	2	d.	d.	PROPN
cblr-1719	205	3	lin	lin	PROPN
cblr-1719	205	4	–	–	PUNCT
cblr-1719	205	5	final	final	ADJ
cblr-1719	205	6	470	470	NUM
cblr-1719	205	7	columbia	columbia	PROPN
cblr-1719	205	8	business	business	NOUN
cblr-1719	205	9	law	law	PROPN
cblr-1719	205	10	review	review	NOUN
cblr-1719	206	1	[	[	X
cblr-1719	206	2	vol	vol	NOUN
cblr-1719	206	3	.	.	NOUN
cblr-1719	206	4	2017	2017	NUM
cblr-1719	206	5	followed	follow	VERB
cblr-1719	206	6	france	france	PROPN
cblr-1719	206	7	and	and	CCONJ
cblr-1719	206	8	removed	remove	VERB
cblr-1719	206	9	its	its	PRON
cblr-1719	206	10	prohibition	prohibition	NOUN
cblr-1719	206	11	on	on	ADP
cblr-1719	206	12	multiple	multiple	ADJ
cblr-1719	206	13	voting	voting	NOUN
cblr-1719	206	14	rights	right	NOUN
cblr-1719	206	15	in	in	ADP
cblr-1719	206	16	august	august	PROPN
cblr-1719	206	17	2015	2015	NUM
cblr-1719	206	18	to	to	PART
cblr-1719	206	19	allow	allow	VERB
cblr-1719	206	20	companies	company	NOUN
cblr-1719	206	21	to	to	PART
cblr-1719	206	22	opt	opt	VERB
cblr-1719	206	23	-	-	PUNCT
cblr-1719	206	24	in	in	ADP
cblr-1719	206	25	if	if	SCONJ
cblr-1719	206	26	two	two	NUM
cblr-1719	206	27	-	-	PUNCT
cblr-1719	206	28	thirds	third	NOUN
cblr-1719	206	29	of	of	ADP
cblr-1719	206	30	the	the	DET
cblr-1719	206	31	shareholders	shareholder	NOUN
cblr-1719	206	32	approve.63	approve.63	NOUN
cblr-1719	206	33	however	however	ADV
cblr-1719	206	34	,	,	PUNCT
cblr-1719	206	35	a	a	DET
cblr-1719	206	36	further	further	ADJ
cblr-1719	206	37	revision	revision	NOUN
cblr-1719	206	38	to	to	PART
cblr-1719	206	39	lower	lower	VERB
cblr-1719	206	40	the	the	DET
cblr-1719	206	41	threshold	threshold	NOUN
cblr-1719	206	42	to	to	ADP
cblr-1719	206	43	a	a	DET
cblr-1719	206	44	simple	simple	ADJ
cblr-1719	206	45	majority	majority	NOUN
cblr-1719	206	46	was	be	AUX
cblr-1719	206	47	later	later	ADV
cblr-1719	206	48	suspended	suspend	VERB
cblr-1719	206	49	due	due	ADP
cblr-1719	206	50	to	to	ADP
cblr-1719	206	51	fierce	fierce	ADJ
cblr-1719	206	52	opposition	opposition	NOUN
cblr-1719	206	53	from	from	ADP
cblr-1719	206	54	institutional	institutional	ADJ
cblr-1719	206	55	investors	investor	NOUN
cblr-1719	206	56	since	since	SCONJ
cblr-1719	206	57	most	most	ADJ
cblr-1719	206	58	italian	italian	ADJ
cblr-1719	206	59	public	public	ADJ
cblr-1719	206	60	companies	company	NOUN
cblr-1719	206	61	have	have	AUX
cblr-1719	206	62	controlling	control	VERB
cblr-1719	206	63	shareholders.64	shareholders.64	NOUN
cblr-1719	206	64	in	in	ADP
cblr-1719	206	65	2015	2015	NUM
cblr-1719	206	66	,	,	PUNCT
cblr-1719	206	67	the	the	DET
cblr-1719	206	68	european	european	PROPN
cblr-1719	206	69	union	union	PROPN
cblr-1719	206	70	also	also	ADV
cblr-1719	206	71	considered	consider	VERB
cblr-1719	206	72	an	an	DET
cblr-1719	206	73	amendment	amendment	NOUN
cblr-1719	206	74	proposal	proposal	NOUN
cblr-1719	206	75	to	to	ADP
cblr-1719	206	76	the	the	DET
cblr-1719	206	77	shareholders	shareholder	NOUN
cblr-1719	206	78	’	’	PART
cblr-1719	206	79	rights	right	NOUN
cblr-1719	206	80	directive	directive	NOUN
cblr-1719	206	81	of	of	ADP
cblr-1719	206	82	2007	2007	NUM
cblr-1719	206	83	to	to	PART
cblr-1719	206	84	reward	reward	VERB
cblr-1719	206	85	long	long	ADJ
cblr-1719	206	86	-	-	PUNCT
cblr-1719	206	87	term	term	NOUN
cblr-1719	206	88	shareholders	shareholder	NOUN
cblr-1719	206	89	with	with	ADP
cblr-1719	206	90	extra	extra	ADJ
cblr-1719	206	91	voting	voting	NOUN
cblr-1719	206	92	rights	right	NOUN
cblr-1719	206	93	or	or	CCONJ
cblr-1719	206	94	dividends.65	dividends.65	NOUN
cblr-1719	206	95	even	even	ADV
cblr-1719	206	96	in	in	ADP
cblr-1719	206	97	the	the	DET
cblr-1719	206	98	united	united	PROPN
cblr-1719	206	99	states	states	PROPN
cblr-1719	206	100	,	,	PUNCT
cblr-1719	206	101	scholars	scholar	NOUN
cblr-1719	206	102	advocate	advocate	VERB
cblr-1719	206	103	that	that	SCONJ
cblr-1719	206	104	companies	company	NOUN
cblr-1719	206	105	should	should	AUX
cblr-1719	206	106	use	use	VERB
cblr-1719	206	107	timephased	timephase	VERB
cblr-1719	206	108	voting	voting	NOUN
cblr-1719	206	109	to	to	PART
cblr-1719	206	110	address	address	VERB
cblr-1719	206	111	concerns	concern	NOUN
cblr-1719	206	112	over	over	ADP
cblr-1719	206	113	short	short	NOUN
cblr-1719	206	114	-	-	PUNCT
cblr-1719	206	115	termism.66	termism.66	NOUN
cblr-1719	206	116	however	however	ADV
cblr-1719	206	117	,	,	PUNCT
cblr-1719	206	118	time	time	NOUN
cblr-1719	206	119	-	-	PUNCT
cblr-1719	206	120	phased	phase	VERB
cblr-1719	206	121	voting	voting	NOUN
cblr-1719	206	122	also	also	ADV
cblr-1719	206	123	raises	raise	VERB
cblr-1719	206	124	the	the	DET
cblr-1719	206	125	concern	concern	NOUN
cblr-1719	206	126	over	over	ADP
cblr-1719	206	127	protectionism	protectionism	NOUN
cblr-1719	206	128	in	in	ADP
cblr-1719	206	129	europe	europe	PROPN
cblr-1719	206	130	if	if	SCONJ
cblr-1719	206	131	used	use	VERB
cblr-1719	206	132	by	by	ADP
cblr-1719	206	133	a	a	DET
cblr-1719	206	134	state	state	NOUN
cblr-1719	206	135	-	-	PUNCT
cblr-1719	206	136	owned	own	VERB
cblr-1719	206	137	enterprise.67	enterprise.67	NOUN
cblr-1719	206	138	the	the	DET
cblr-1719	206	139	french	french	ADJ
cblr-1719	206	140	government	government	NOUN
cblr-1719	206	141	actively	actively	ADV
cblr-1719	206	142	supports	support	VERB
cblr-1719	206	143	time	time	NOUN
cblr-1719	206	144	63	63	NUM
cblr-1719	206	145	marco	marco	PROPN
cblr-1719	206	146	ventoruzzo	ventoruzzo	PROPN
cblr-1719	206	147	,	,	PUNCT
cblr-1719	206	148	the	the	DET
cblr-1719	206	149	disappearing	disappear	VERB
cblr-1719	206	150	taboo	taboo	NOUN
cblr-1719	206	151	of	of	ADP
cblr-1719	206	152	multiple	multiple	ADJ
cblr-1719	206	153	voting	voting	NOUN
cblr-1719	206	154	shares	share	NOUN
cblr-1719	206	155	:	:	PUNCT
cblr-1719	206	156	regulatory	regulatory	ADJ
cblr-1719	206	157	responses	response	NOUN
cblr-1719	206	158	to	to	ADP
cblr-1719	206	159	the	the	DET
cblr-1719	206	160	migration	migration	NOUN
cblr-1719	206	161	of	of	ADP
cblr-1719	206	162	chrysler	chrysler	NOUN
cblr-1719	206	163	-	-	PUNCT
cblr-1719	206	164	fiat	fiat	NOUN
cblr-1719	206	165	1	1	NUM
cblr-1719	206	166	(	(	PUNCT
cblr-1719	206	167	european	european	ADJ
cblr-1719	206	168	corporate	corporate	ADJ
cblr-1719	206	169	governance	governance	NOUN
cblr-1719	206	170	institute	institute	NOUN
cblr-1719	206	171	,	,	PUNCT
cblr-1719	206	172	law	law	NOUN
cblr-1719	206	173	working	working	NOUN
cblr-1719	206	174	paper	paper	NOUN
cblr-1719	206	175	no	no	INTJ
cblr-1719	206	176	.	.	PUNCT
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cblr-1719	207	2	,	,	PUNCT
cblr-1719	207	3	2015	2015	NUM
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cblr-1719	208	1	,	,	PUNCT
cblr-1719	208	2	http://ssrn.com/abstract=2574236	http://ssrn.com/abstract=2574236	PROPN
cblr-1719	208	3	.	.	PROPN
cblr-1719	208	4	64	64	NUM
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cblr-1719	208	6	hendriks	hendriks	PROPN
cblr-1719	208	7	,	,	PUNCT
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cblr-1719	208	9	ownership	ownership	NOUN
cblr-1719	208	10	rights	right	NOUN
cblr-1719	208	11	:	:	PUNCT
cblr-1719	208	12	a	a	DET
cblr-1719	208	13	tool	tool	NOUN
cblr-1719	208	14	to	to	PART
cblr-1719	208	15	stimulate	stimulate	VERB
cblr-1719	208	16	long	long	ADJ
cblr-1719	208	17	-	-	PUNCT
cblr-1719	208	18	term	term	NOUN
cblr-1719	208	19	share	share	NOUN
cblr-1719	208	20	ownership	ownership	NOUN
cblr-1719	208	21	with	with	ADP
cblr-1719	208	22	negative	negative	ADJ
cblr-1719	208	23	consequences	consequence	NOUN
cblr-1719	208	24	,	,	PUNCT
cblr-1719	208	25	investment	investment	NOUN
cblr-1719	208	26	europe	europe	PROPN
cblr-1719	208	27	(	(	PUNCT
cblr-1719	208	28	sept	sept	PROPN
cblr-1719	208	29	.	.	PROPN
cblr-1719	208	30	30	30	NUM
cblr-1719	208	31	,	,	PUNCT
cblr-1719	208	32	2015	2015	NUM
cblr-1719	208	33	)	)	PUNCT
cblr-1719	208	34	,	,	PUNCT
cblr-1719	208	35	http://www.investmenteurope.net/opinion/	http://www.investmenteurope.net/opinion/	NOUN
cblr-1719	208	36	differential	differential	ADJ
cblr-1719	208	37	-	-	PUNCT
cblr-1719	208	38	ownership	ownership	NOUN
cblr-1719	208	39	-	-	PUNCT
cblr-1719	208	40	rights	right	NOUN
cblr-1719	208	41	-	-	PUNCT
cblr-1719	208	42	a	a	DET
cblr-1719	208	43	-	-	PUNCT
cblr-1719	208	44	tool	tool	NOUN
cblr-1719	208	45	-	-	PUNCT
cblr-1719	208	46	to	to	AUX
cblr-1719	208	47	-	-	PUNCT
cblr-1719	208	48	stimulate	stimulate	VERB
cblr-1719	208	49	-	-	PUNCT
cblr-1719	208	50	long	long	ADJ
cblr-1719	208	51	-	-	PUNCT
cblr-1719	208	52	term	term	NOUN
cblr-1719	208	53	-	-	PUNCT
cblr-1719	208	54	shareownership	shareownership	NOUN
cblr-1719	208	55	-	-	PUNCT
cblr-1719	208	56	with	with	ADP
cblr-1719	208	57	-	-	PUNCT
cblr-1719	208	58	negative	negative	ADJ
cblr-1719	208	59	-	-	PUNCT
cblr-1719	208	60	consequences/	consequences/	NUM
cblr-1719	208	61	[	[	X
cblr-1719	208	62	https://perma.cc/9neu-uv82	https://perma.cc/9neu-uv82	X
cblr-1719	208	63	]	]	X
cblr-1719	208	64	;	;	PUNCT
cblr-1719	208	65	faccio	faccio	PROPN
cblr-1719	208	66	&	&	CCONJ
cblr-1719	208	67	lang	lang	PROPN
cblr-1719	208	68	,	,	PUNCT
cblr-1719	208	69	supra	supra	PROPN
cblr-1719	208	70	note	note	PROPN
cblr-1719	208	71	15	15	NUM
cblr-1719	208	72	,	,	PUNCT
cblr-1719	208	73	at	at	ADP
cblr-1719	208	74	378–79	378–79	NUM
cblr-1719	208	75	.	.	PUNCT
cblr-1719	209	1	65	65	NUM
cblr-1719	209	2	report	report	NOUN
cblr-1719	209	3	on	on	ADP
cblr-1719	209	4	the	the	DET
cblr-1719	209	5	proposal	proposal	NOUN
cblr-1719	209	6	for	for	ADP
cblr-1719	209	7	a	a	DET
cblr-1719	209	8	directive	directive	NOUN
cblr-1719	209	9	of	of	ADP
cblr-1719	209	10	the	the	DET
cblr-1719	209	11	european	european	ADJ
cblr-1719	209	12	parliament	parliament	NOUN
cblr-1719	209	13	and	and	CCONJ
cblr-1719	209	14	of	of	ADP
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cblr-1719	209	16	council	council	NOUN
cblr-1719	209	17	amending	amend	VERB
cblr-1719	209	18	directive	directive	NOUN
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cblr-1719	209	26	of	of	ADP
cblr-1719	209	27	long	long	ADJ
cblr-1719	209	28	-	-	PUNCT
cblr-1719	209	29	term	term	NOUN
cblr-1719	209	30	shareholder	shareholder	NOUN
cblr-1719	209	31	engagement	engagement	NOUN
cblr-1719	209	32	and	and	CCONJ
cblr-1719	209	33	directive	directive	NOUN
cblr-1719	209	34	2013/34	2013/34	NUM
cblr-1719	209	35	/	/	SYM
cblr-1719	209	36	eu	eu	PROPN
cblr-1719	209	37	as	as	SCONJ
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cblr-1719	209	39	certain	certain	ADJ
cblr-1719	209	40	elements	element	NOUN
cblr-1719	209	41	of	of	ADP
cblr-1719	209	42	the	the	DET
cblr-1719	209	43	corporate	corporate	ADJ
cblr-1719	209	44	governance	governance	NOUN
cblr-1719	209	45	statement	statement	NOUN
cblr-1719	209	46	,	,	PUNCT
cblr-1719	209	47	at	at	ADP
cblr-1719	209	48	10	10	NUM
cblr-1719	209	49	,	,	PUNCT
cblr-1719	209	50	33	33	NUM
cblr-1719	209	51	,	,	PUNCT
cblr-1719	209	52	com	com	NOUN
cblr-1719	209	53	(	(	PUNCT
cblr-1719	209	54	2014	2014	NUM
cblr-1719	209	55	)	)	PUNCT
cblr-1719	209	56	0213	0213	NUM
cblr-1719	209	57	(	(	PUNCT
cblr-1719	209	58	may	may	PROPN
cblr-1719	209	59	12	12	NUM
cblr-1719	209	60	,	,	PUNCT
cblr-1719	209	61	2015	2015	NUM
cblr-1719	209	62	)	)	PUNCT
cblr-1719	209	63	;	;	PUNCT
cblr-1719	209	64	jeroen	jeroen	PROPN
cblr-1719	209	65	delvoie	delvoie	PROPN
cblr-1719	209	66	&	&	CCONJ
cblr-1719	209	67	carl	carl	PROPN
cblr-1719	209	68	clottens	clottens	PROPN
cblr-1719	209	69	,	,	PUNCT
cblr-1719	209	70	accountability	accountability	NOUN
cblr-1719	209	71	and	and	CCONJ
cblr-1719	209	72	short	short	ADJ
cblr-1719	209	73	-	-	PUNCT
cblr-1719	209	74	termism	termism	NOUN
cblr-1719	209	75	:	:	PUNCT
cblr-1719	209	76	some	some	DET
cblr-1719	209	77	notes	note	NOUN
cblr-1719	209	78	on	on	ADP
cblr-1719	209	79	loyalty	loyalty	NOUN
cblr-1719	209	80	shares	share	NOUN
cblr-1719	209	81	,	,	PUNCT
cblr-1719	209	82	9	9	NUM
cblr-1719	209	83	l.	l.	PROPN
cblr-1719	209	84	&	&	CCONJ
cblr-1719	209	85	fin	fin	PROPN
cblr-1719	209	86	.	.	PUNCT
cblr-1719	210	1	markets	market	NOUN
cblr-1719	210	2	rev	rev	VERB
cblr-1719	210	3	.	.	PROPN
cblr-1719	210	4	19	19	NUM
cblr-1719	210	5	,	,	PUNCT
cblr-1719	210	6	23	23	NUM
cblr-1719	210	7	(	(	PUNCT
cblr-1719	210	8	2015	2015	NUM
cblr-1719	210	9	)	)	PUNCT
cblr-1719	210	10	.	.	PUNCT
cblr-1719	211	1	on	on	ADP
cblr-1719	211	2	july	july	PROPN
cblr-1719	211	3	8	8	NUM
cblr-1719	211	4	,	,	PUNCT
cblr-1719	211	5	2015	2015	NUM
cblr-1719	211	6	,	,	PUNCT
cblr-1719	211	7	the	the	DET
cblr-1719	211	8	european	european	ADJ
cblr-1719	211	9	parliament	parliament	NOUN
cblr-1719	211	10	rejected	reject	VERB
cblr-1719	211	11	the	the	DET
cblr-1719	211	12	proposal	proposal	NOUN
cblr-1719	211	13	to	to	PART
cblr-1719	211	14	reward	reward	VERB
cblr-1719	211	15	long	long	ADJ
cblr-1719	211	16	-	-	PUNCT
cblr-1719	211	17	term	term	NOUN
cblr-1719	211	18	shareholders	shareholder	NOUN
cblr-1719	211	19	.	.	PUNCT
cblr-1719	212	1	see	see	VERB
cblr-1719	212	2	nctm	nctm	ADJ
cblr-1719	212	3	studio	studio	NOUN
cblr-1719	212	4	legale	legale	NOUN
cblr-1719	212	5	,	,	PUNCT
cblr-1719	212	6	revision	revision	NOUN
cblr-1719	212	7	of	of	ADP
cblr-1719	212	8	the	the	DET
cblr-1719	212	9	shareholders	shareholder	NOUN
cblr-1719	212	10	rights	right	NOUN
cblr-1719	212	11	directive	directive	NOUN
cblr-1719	212	12	:	:	PUNCT
cblr-1719	212	13	it	it	PRON
cblr-1719	212	14	’s	’	VERB
cblr-1719	212	15	a	a	DET
cblr-1719	212	16	long	long	ADJ
cblr-1719	212	17	way	way	NOUN
cblr-1719	212	18	home	home	NOUN
cblr-1719	212	19	,	,	PUNCT
cblr-1719	212	20	lexology	lexology	NOUN
cblr-1719	212	21	(	(	PUNCT
cblr-1719	212	22	july	july	PROPN
cblr-1719	212	23	14	14	NUM
cblr-1719	212	24	,	,	PUNCT
cblr-1719	212	25	2015	2015	NUM
cblr-1719	212	26	)	)	PUNCT
cblr-1719	212	27	,	,	PUNCT
cblr-1719	213	1	http://www.lexology.com/library/detail.aspx?g=10cdafcd-9dea-43fc-9016a96ae6952489	http://www.lexology.com/library/detail.aspx?g=10cdafcd-9dea-43fc-9016a96ae6952489	PROPN
cblr-1719	214	1	[	[	X
cblr-1719	214	2	https://perma.cc/6yel-yn3	https://perma.cc/6yel-yn3	PROPN
cblr-1719	214	3	m	m	NOUN
cblr-1719	214	4	]	]	X
cblr-1719	214	5	.	.	PUNCT
cblr-1719	215	1	66	66	NUM
cblr-1719	215	2	lynne	lynne	PROPN
cblr-1719	215	3	l.	l.	PROPN
cblr-1719	215	4	dallas	dallas	PROPN
cblr-1719	215	5	&	&	CCONJ
cblr-1719	215	6	jordan	jordan	PROPN
cblr-1719	215	7	m.	m.	PROPN
cblr-1719	215	8	barry	barry	PROPN
cblr-1719	215	9	,	,	PUNCT
cblr-1719	215	10	long	long	ADJ
cblr-1719	215	11	-	-	PUNCT
cblr-1719	215	12	term	term	NOUN
cblr-1719	215	13	shareholders	shareholder	NOUN
cblr-1719	215	14	and	and	CCONJ
cblr-1719	215	15	time	time	NOUN
cblr-1719	215	16	-	-	PUNCT
cblr-1719	215	17	phased	phase	VERB
cblr-1719	215	18	voting	voting	NOUN
cblr-1719	215	19	,	,	PUNCT
cblr-1719	215	20	40	40	NUM
cblr-1719	215	21	del	del	PROPN
cblr-1719	215	22	.	.	PROPN
cblr-1719	215	23	j.	j.	PROPN
cblr-1719	215	24	corp	corp	PROPN
cblr-1719	215	25	.	.	PROPN
cblr-1719	215	26	l.	l.	PROPN
cblr-1719	215	27	541	541	NUM
cblr-1719	215	28	,	,	PUNCT
cblr-1719	215	29	546–47	546–47	NUM
cblr-1719	215	30	(	(	PUNCT
cblr-1719	215	31	2015	2015	NUM
cblr-1719	215	32	)	)	PUNCT
cblr-1719	215	33	.	.	PUNCT
cblr-1719	216	1	see	see	VERB
cblr-1719	216	2	generally	generally	ADV
cblr-1719	216	3	david	david	PROPN
cblr-1719	216	4	j.	j.	PROPN
cblr-1719	216	5	berger	berger	PROPN
cblr-1719	216	6	et	et	PROPN
cblr-1719	216	7	al	al	PROPN
cblr-1719	216	8	.	.	PROPN
cblr-1719	216	9	,	,	PUNCT
cblr-1719	216	10	tenure	tenure	NOUN
cblr-1719	216	11	voting	voting	NOUN
cblr-1719	216	12	and	and	CCONJ
cblr-1719	216	13	the	the	DET
cblr-1719	216	14	u.s	u.s	PROPN
cblr-1719	216	15	.	.	PROPN
cblr-1719	216	16	public	public	ADJ
cblr-1719	216	17	company	company	NOUN
cblr-1719	216	18	,	,	PUNCT
cblr-1719	216	19	72	72	NUM
cblr-1719	216	20	bus	bus	NOUN
cblr-1719	216	21	.	.	PUNCT
cblr-1719	217	1	law	law	NOUN
cblr-1719	217	2	.	.	PUNCT
cblr-1719	218	1	295	295	NUM
cblr-1719	218	2	(	(	PUNCT
cblr-1719	218	3	2017	2017	NUM
cblr-1719	218	4	)	)	PUNCT
cblr-1719	218	5	.	.	PUNCT
cblr-1719	219	1	67	67	NUM
cblr-1719	219	2	ringe	ringe	PROPN
cblr-1719	219	3	,	,	PUNCT
cblr-1719	219	4	supra	supra	PROPN
cblr-1719	219	5	note	note	NOUN
cblr-1719	219	6	32	32	NUM
cblr-1719	219	7	,	,	PUNCT
cblr-1719	219	8	at	at	ADP
cblr-1719	219	9	218	218	NUM
cblr-1719	219	10	.	.	PUNCT
cblr-1719	220	1	lin	lin	PROPN
cblr-1719	220	2	–	–	PUNCT
cblr-1719	220	3	final	final	ADJ
cblr-1719	220	4	no	no	NOUN
cblr-1719	220	5	.	.	PUNCT
cblr-1719	221	1	2:453	2:453	NUM
cblr-1719	221	2	]	]	X
cblr-1719	221	3	controlling	control	VERB
cblr-1719	221	4	-	-	PUNCT
cblr-1719	221	5	minority	minority	NOUN
cblr-1719	221	6	shareholders	shareholder	NOUN
cblr-1719	221	7	471	471	NUM
cblr-1719	221	8	phased	phase	VERB
cblr-1719	221	9	voting	voting	NOUN
cblr-1719	221	10	in	in	ADP
cblr-1719	221	11	companies	company	NOUN
cblr-1719	221	12	where	where	SCONJ
cblr-1719	221	13	the	the	DET
cblr-1719	221	14	government	government	NOUN
cblr-1719	221	15	itself	itself	PRON
cblr-1719	221	16	is	be	AUX
cblr-1719	221	17	a	a	DET
cblr-1719	221	18	major	major	ADJ
cblr-1719	221	19	shareholder.68	shareholder.68	NOUN
cblr-1719	221	20	for	for	ADP
cblr-1719	221	21	example	example	NOUN
cblr-1719	221	22	,	,	PUNCT
cblr-1719	221	23	the	the	DET
cblr-1719	221	24	french	french	ADJ
cblr-1719	221	25	government	government	NOUN
cblr-1719	221	26	temporarily	temporarily	ADV
cblr-1719	221	27	increased	increase	VERB
cblr-1719	221	28	its	its	PRON
cblr-1719	221	29	stakes	stake	NOUN
cblr-1719	221	30	in	in	ADP
cblr-1719	221	31	renault	renault	PROPN
cblr-1719	221	32	,	,	PUNCT
cblr-1719	221	33	for	for	ADP
cblr-1719	221	34	which	which	PRON
cblr-1719	221	35	it	it	PRON
cblr-1719	221	36	is	be	AUX
cblr-1719	221	37	a	a	DET
cblr-1719	221	38	major	major	ADJ
cblr-1719	221	39	shareholder	shareholder	NOUN
cblr-1719	221	40	,	,	PUNCT
cblr-1719	221	41	during	during	ADP
cblr-1719	221	42	the	the	DET
cblr-1719	221	43	voting	voting	NOUN
cblr-1719	221	44	season	season	NOUN
cblr-1719	221	45	through	through	ADP
cblr-1719	221	46	share	share	NOUN
cblr-1719	221	47	borrowing	borrowing	NOUN
cblr-1719	221	48	and	and	CCONJ
cblr-1719	221	49	put	put	VERB
cblr-1719	221	50	and	and	CCONJ
cblr-1719	221	51	call	call	VERB
cblr-1719	221	52	options	option	NOUN
cblr-1719	221	53	.	.	PUNCT
cblr-1719	222	1	69	69	NUM
cblr-1719	222	2	critics	critic	NOUN
cblr-1719	222	3	have	have	AUX
cblr-1719	222	4	commented	comment	VERB
cblr-1719	222	5	that	that	SCONJ
cblr-1719	222	6	the	the	DET
cblr-1719	222	7	french	french	ADJ
cblr-1719	222	8	reforms	reform	NOUN
cblr-1719	222	9	were	be	AUX
cblr-1719	222	10	led	lead	VERB
cblr-1719	222	11	by	by	ADP
cblr-1719	222	12	a	a	DET
cblr-1719	222	13	socialist	socialist	ADJ
cblr-1719	222	14	government	government	NOUN
cblr-1719	222	15	in	in	ADP
cblr-1719	222	16	order	order	NOUN
cblr-1719	222	17	to	to	PART
cblr-1719	222	18	control	control	VERB
cblr-1719	222	19	state	state	NOUN
cblr-1719	222	20	-	-	PUNCT
cblr-1719	222	21	owned	own	VERB
cblr-1719	222	22	enterprises	enterprise	NOUN
cblr-1719	222	23	with	with	ADP
cblr-1719	222	24	less	less	ADJ
cblr-1719	222	25	capital	capital	NOUN
cblr-1719	222	26	and	and	CCONJ
cblr-1719	222	27	as	as	ADP
cblr-1719	222	28	a	a	DET
cblr-1719	222	29	protectionist	protectionist	ADJ
cblr-1719	222	30	guard	guard	NOUN
cblr-1719	222	31	against	against	ADP
cblr-1719	222	32	foreign	foreign	ADJ
cblr-1719	222	33	investors.70	investors.70	ADJ
cblr-1719	222	34	iii	iii	NOUN
cblr-1719	222	35	.	.	PUNCT
cblr-1719	222	36	theoretical	theoretical	ADJ
cblr-1719	222	37	debate	debate	NOUN
cblr-1719	222	38	and	and	CCONJ
cblr-1719	222	39	empirical	empirical	ADJ
cblr-1719	222	40	findings	finding	NOUN
cblr-1719	222	41	as	as	SCONJ
cblr-1719	222	42	illustrated	illustrate	VERB
cblr-1719	222	43	in	in	ADP
cblr-1719	222	44	the	the	DET
cblr-1719	222	45	previous	previous	ADJ
cblr-1719	222	46	section	section	NOUN
cblr-1719	222	47	,	,	PUNCT
cblr-1719	222	48	leveraged	leveraged	ADJ
cblr-1719	222	49	corporate	corporate	ADJ
cblr-1719	222	50	control	control	NOUN
cblr-1719	222	51	is	be	AUX
cblr-1719	222	52	common	common	ADJ
cblr-1719	222	53	,	,	PUNCT
cblr-1719	222	54	but	but	CCONJ
cblr-1719	222	55	the	the	DET
cblr-1719	222	56	means	mean	NOUN
cblr-1719	222	57	utilized	utilize	VERB
cblr-1719	222	58	by	by	ADP
cblr-1719	222	59	controlling	control	VERB
cblr-1719	222	60	shareholders	shareholder	NOUN
cblr-1719	222	61	are	be	AUX
cblr-1719	222	62	quite	quite	ADV
cblr-1719	222	63	diverse	diverse	ADJ
cblr-1719	222	64	and	and	CCONJ
cblr-1719	222	65	vary	vary	VERB
cblr-1719	222	66	markedly	markedly	ADV
cblr-1719	222	67	among	among	ADP
cblr-1719	222	68	jurisdictions	jurisdiction	NOUN
cblr-1719	222	69	.	.	PUNCT
cblr-1719	223	1	no	no	DET
cblr-1719	223	2	consensus	consensus	NOUN
cblr-1719	223	3	on	on	ADP
cblr-1719	223	4	policy	policy	NOUN
cblr-1719	223	5	has	have	AUX
cblr-1719	223	6	been	be	AUX
cblr-1719	223	7	reached	reach	VERB
cblr-1719	223	8	on	on	ADP
cblr-1719	223	9	a	a	DET
cblr-1719	223	10	regional	regional	ADJ
cblr-1719	223	11	level	level	NOUN
cblr-1719	223	12	and	and	CCONJ
cblr-1719	223	13	different	different	ADJ
cblr-1719	223	14	jurisdictions	jurisdiction	NOUN
cblr-1719	223	15	usually	usually	ADV
cblr-1719	223	16	have	have	VERB
cblr-1719	223	17	different	different	ADJ
cblr-1719	223	18	preferences	preference	NOUN
cblr-1719	223	19	when	when	SCONJ
cblr-1719	223	20	it	it	PRON
cblr-1719	223	21	comes	come	VERB
cblr-1719	223	22	to	to	ADP
cblr-1719	223	23	the	the	DET
cblr-1719	223	24	means	mean	NOUN
cblr-1719	223	25	for	for	ADP
cblr-1719	223	26	leveraged	leveraged	ADJ
cblr-1719	223	27	control	control	NOUN
cblr-1719	223	28	.	.	PUNCT
cblr-1719	224	1	different	different	ADJ
cblr-1719	224	2	countries	country	NOUN
cblr-1719	224	3	may	may	AUX
cblr-1719	224	4	value	value	VERB
cblr-1719	224	5	equality	equality	NOUN
cblr-1719	224	6	and	and	CCONJ
cblr-1719	224	7	democracy	democracy	NOUN
cblr-1719	224	8	in	in	ADP
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cblr-1719	224	10	corporate	corporate	ADJ
cblr-1719	224	11	setting	setting	NOUN
cblr-1719	224	12	differently	differently	ADV
cblr-1719	224	13	due	due	ADP
cblr-1719	224	14	to	to	ADP
cblr-1719	224	15	diversity	diversity	NOUN
cblr-1719	224	16	in	in	ADP
cblr-1719	224	17	their	their	PRON
cblr-1719	224	18	political	political	ADJ
cblr-1719	224	19	,	,	PUNCT
cblr-1719	224	20	societal	societal	ADJ
cblr-1719	224	21	,	,	PUNCT
cblr-1719	224	22	cultural	cultural	ADJ
cblr-1719	224	23	,	,	PUNCT
cblr-1719	224	24	and	and	CCONJ
cblr-1719	224	25	economic	economic	ADJ
cblr-1719	224	26	conditions	condition	NOUN
cblr-1719	224	27	.	.	PUNCT
cblr-1719	225	1	this	this	DET
cblr-1719	225	2	section	section	NOUN
cblr-1719	225	3	reviews	review	VERB
cblr-1719	225	4	existing	exist	VERB
cblr-1719	225	5	theories	theory	NOUN
cblr-1719	225	6	with	with	ADP
cblr-1719	225	7	regard	regard	NOUN
cblr-1719	225	8	to	to	ADP
cblr-1719	225	9	proportionality	proportionality	NOUN
cblr-1719	225	10	in	in	ADP
cblr-1719	225	11	corporate	corporate	ADJ
cblr-1719	225	12	control	control	NOUN
cblr-1719	225	13	to	to	PART
cblr-1719	225	14	explore	explore	VERB
cblr-1719	225	15	whether	whether	SCONJ
cblr-1719	225	16	there	there	PRON
cblr-1719	225	17	are	be	VERB
cblr-1719	225	18	coherent	coherent	ADJ
cblr-1719	225	19	grounds	ground	NOUN
cblr-1719	225	20	for	for	ADP
cblr-1719	225	21	or	or	CCONJ
cblr-1719	225	22	against	against	ADP
cblr-1719	225	23	proportionality	proportionality	NOUN
cblr-1719	225	24	in	in	ADP
cblr-1719	225	25	corporate	corporate	ADJ
cblr-1719	225	26	ownership	ownership	NOUN
cblr-1719	225	27	and	and	CCONJ
cblr-1719	225	28	control	control	NOUN
cblr-1719	225	29	.	.	PUNCT
cblr-1719	226	1	as	as	SCONJ
cblr-1719	226	2	demonstrated	demonstrate	VERB
cblr-1719	226	3	in	in	ADP
cblr-1719	226	4	this	this	DET
cblr-1719	226	5	section	section	NOUN
cblr-1719	226	6	,	,	PUNCT
cblr-1719	226	7	since	since	SCONJ
cblr-1719	226	8	there	there	PRON
cblr-1719	226	9	are	be	VERB
cblr-1719	226	10	competing	compete	VERB
cblr-1719	226	11	views	view	NOUN
cblr-1719	226	12	among	among	ADP
cblr-1719	226	13	scholars	scholar	NOUN
cblr-1719	226	14	about	about	ADP
cblr-1719	226	15	the	the	DET
cblr-1719	226	16	effects	effect	NOUN
cblr-1719	226	17	of	of	ADP
cblr-1719	226	18	leveraged	leveraged	ADJ
cblr-1719	226	19	control	control	NOUN
cblr-1719	226	20	,	,	PUNCT
cblr-1719	226	21	a	a	DET
cblr-1719	226	22	further	further	ADJ
cblr-1719	226	23	review	review	NOUN
cblr-1719	226	24	of	of	ADP
cblr-1719	226	25	the	the	DET
cblr-1719	226	26	empirical	empirical	ADJ
cblr-1719	226	27	studies	study	NOUN
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cblr-1719	226	29	warranted	warrant	VERB
cblr-1719	226	30	.	.	PUNCT
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cblr-1719	227	19	a	a	DET
cblr-1719	227	20	framework	framework	NOUN
cblr-1719	227	21	to	to	ADP
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cblr-1719	227	24	de	de	PROPN
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cblr-1719	227	26	et	et	PROPN
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cblr-1719	227	28	.	.	PROPN
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cblr-1719	227	33	note	note	PROPN
cblr-1719	227	34	59	59	NUM
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cblr-1719	227	36	at	at	ADP
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cblr-1719	229	7	or	or	CCONJ
cblr-1719	229	8	short	short	ADV
cblr-1719	229	9	-	-	PUNCT
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cblr-1719	229	11	?	?	PUNCT
cblr-1719	229	12	,	,	PUNCT
cblr-1719	229	13	economist	economist	NOUN
cblr-1719	229	14	(	(	PUNCT
cblr-1719	229	15	may	may	PROPN
cblr-1719	229	16	2	2	NUM
cblr-1719	229	17	,	,	PUNCT
cblr-1719	229	18	2015	2015	NUM
cblr-1719	229	19	)	)	PUNCT
cblr-1719	229	20	,	,	PUNCT
cblr-1719	229	21	http://www.economist.com/news/business/21650149-enhanced-rights-loyalinvestors-are-increasingly-touted-way-make-companies-think	http://www.economist.com/news/business/21650149-enhanced-rights-loyalinvestors-are-increasingly-touted-way-make-companies-think	VERB
cblr-1719	229	22	[	[	X
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cblr-1719	229	25	.	.	PUNCT
cblr-1719	230	1	lin	lin	PROPN
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cblr-1719	230	4	472	472	NUM
cblr-1719	230	5	columbia	columbia	PROPN
cblr-1719	230	6	business	business	NOUN
cblr-1719	230	7	law	law	PROPN
cblr-1719	230	8	review	review	NOUN
cblr-1719	231	1	[	[	X
cblr-1719	231	2	vol	vol	NOUN
cblr-1719	231	3	.	.	NOUN
cblr-1719	231	4	2017	2017	NUM
cblr-1719	231	5	empirically	empirically	ADV
cblr-1719	231	6	examine	examine	VERB
cblr-1719	231	7	the	the	DET
cblr-1719	231	8	effects	effect	NOUN
cblr-1719	231	9	of	of	ADP
cblr-1719	231	10	leveraged	leveraged	ADJ
cblr-1719	231	11	control	control	NOUN
cblr-1719	231	12	.	.	PUNCT
cblr-1719	232	1	in	in	ADP
cblr-1719	232	2	a	a	DET
cblr-1719	232	3	controlled	control	VERB
cblr-1719	232	4	firm	firm	NOUN
cblr-1719	232	5	,	,	PUNCT
cblr-1719	232	6	the	the	DET
cblr-1719	232	7	principal	principal	ADJ
cblr-1719	232	8	-	-	PUNCT
cblr-1719	232	9	agency	agency	NOUN
cblr-1719	232	10	problem	problem	NOUN
cblr-1719	232	11	arises	arise	VERB
cblr-1719	232	12	between	between	ADP
cblr-1719	232	13	controlling	control	VERB
cblr-1719	232	14	shareholders	shareholder	NOUN
cblr-1719	232	15	and	and	CCONJ
cblr-1719	232	16	non	non	ADJ
cblr-1719	232	17	-	-	ADJ
cblr-1719	232	18	controlling	controlling	ADJ
cblr-1719	232	19	shareholders	shareholder	NOUN
cblr-1719	232	20	,	,	PUNCT
cblr-1719	232	21	as	as	SCONJ
cblr-1719	232	22	opposed	oppose	VERB
cblr-1719	232	23	to	to	ADP
cblr-1719	232	24	that	that	PRON
cblr-1719	232	25	which	which	PRON
cblr-1719	232	26	exists	exist	VERB
cblr-1719	232	27	between	between	ADP
cblr-1719	232	28	managers	manager	NOUN
cblr-1719	232	29	and	and	CCONJ
cblr-1719	232	30	shareholders	shareholder	NOUN
cblr-1719	232	31	in	in	ADP
cblr-1719	232	32	a	a	DET
cblr-1719	232	33	dispersed	disperse	VERB
cblr-1719	232	34	ownership	ownership	NOUN
cblr-1719	232	35	firm	firm	NOUN
cblr-1719	232	36	.	.	PUNCT
cblr-1719	233	1	there	there	PRON
cblr-1719	233	2	are	be	VERB
cblr-1719	233	3	two	two	NUM
cblr-1719	233	4	counteracting	counteract	VERB
cblr-1719	233	5	effects	effect	NOUN
cblr-1719	233	6	of	of	ADP
cblr-1719	233	7	concentrated	concentrated	ADJ
cblr-1719	233	8	ownership	ownership	NOUN
cblr-1719	233	9	on	on	ADP
cblr-1719	233	10	the	the	DET
cblr-1719	233	11	governance	governance	NOUN
cblr-1719	233	12	of	of	ADP
cblr-1719	233	13	firms	firm	NOUN
cblr-1719	233	14	:	:	PUNCT
cblr-1719	233	15	(	(	PUNCT
cblr-1719	233	16	1	1	X
cblr-1719	233	17	)	)	PUNCT
cblr-1719	233	18	the	the	DET
cblr-1719	233	19	entrenchment	entrenchment	ADJ
cblr-1719	233	20	effect	effect	NOUN
cblr-1719	233	21	,	,	PUNCT
cblr-1719	233	22	where	where	SCONJ
cblr-1719	233	23	concentrated	concentrated	ADJ
cblr-1719	233	24	ownership	ownership	NOUN
cblr-1719	233	25	protects	protect	VERB
cblr-1719	233	26	controlling	control	VERB
cblr-1719	233	27	shareholders	shareholder	NOUN
cblr-1719	233	28	from	from	ADP
cblr-1719	233	29	potential	potential	ADJ
cblr-1719	233	30	takeover	takeover	NOUN
cblr-1719	233	31	threats	threat	NOUN
cblr-1719	233	32	and	and	CCONJ
cblr-1719	233	33	makes	make	VERB
cblr-1719	233	34	it	it	PRON
cblr-1719	233	35	easier	easy	ADJ
cblr-1719	233	36	for	for	SCONJ
cblr-1719	233	37	opportunistic	opportunistic	ADJ
cblr-1719	233	38	controllers	controller	NOUN
cblr-1719	233	39	to	to	PART
cblr-1719	233	40	expropriate	expropriate	VERB
cblr-1719	233	41	minority	minority	NOUN
cblr-1719	233	42	shareholders	shareholder	NOUN
cblr-1719	233	43	;	;	PUNCT
cblr-1719	233	44	and	and	CCONJ
cblr-1719	233	45	(	(	PUNCT
cblr-1719	233	46	2	2	X
cblr-1719	233	47	)	)	PUNCT
cblr-1719	233	48	the	the	DET
cblr-1719	233	49	incentive	incentive	NOUN
cblr-1719	233	50	effect	effect	NOUN
cblr-1719	233	51	,	,	PUNCT
cblr-1719	233	52	where	where	SCONJ
cblr-1719	233	53	concentrated	concentrated	ADJ
cblr-1719	233	54	ownership	ownership	NOUN
cblr-1719	233	55	provides	provide	VERB
cblr-1719	233	56	controlling	control	VERB
cblr-1719	233	57	shareholders	shareholder	NOUN
cblr-1719	233	58	with	with	ADP
cblr-1719	233	59	incentives	incentive	NOUN
cblr-1719	233	60	to	to	PART
cblr-1719	233	61	monitor	monitor	VERB
cblr-1719	233	62	management	management	NOUN
cblr-1719	233	63	,	,	PUNCT
cblr-1719	233	64	which	which	PRON
cblr-1719	233	65	makes	make	VERB
cblr-1719	233	66	monitoring	monitor	VERB
cblr-1719	233	67	more	more	ADJ
cblr-1719	233	68	efficient.71	efficient.71	NOUN
cblr-1719	233	69	as	as	ADV
cblr-1719	233	70	long	long	ADV
cblr-1719	233	71	as	as	SCONJ
cblr-1719	233	72	the	the	DET
cblr-1719	233	73	incentive	incentive	NOUN
cblr-1719	233	74	effect	effect	NOUN
cblr-1719	233	75	is	be	AUX
cblr-1719	233	76	greater	great	ADJ
cblr-1719	233	77	than	than	ADP
cblr-1719	233	78	the	the	DET
cblr-1719	233	79	entrenchment	entrenchment	ADJ
cblr-1719	233	80	effect	effect	NOUN
cblr-1719	233	81	,	,	PUNCT
cblr-1719	233	82	non	non	ADJ
cblr-1719	233	83	-	-	ADJ
cblr-1719	233	84	controlling	controlling	ADJ
cblr-1719	233	85	shareholders	shareholder	NOUN
cblr-1719	233	86	should	should	AUX
cblr-1719	233	87	benefit	benefit	VERB
cblr-1719	233	88	from	from	ADP
cblr-1719	233	89	having	have	VERB
cblr-1719	233	90	controlling	control	VERB
cblr-1719	233	91	shareholders	shareholder	NOUN
cblr-1719	233	92	in	in	ADP
cblr-1719	233	93	a	a	DET
cblr-1719	233	94	firm.72	firm.72	NOUN
cblr-1719	233	95	in	in	ADP
cblr-1719	233	96	a	a	DET
cblr-1719	233	97	firm	firm	NOUN
cblr-1719	233	98	with	with	ADP
cblr-1719	233	99	leveraged	leveraged	ADJ
cblr-1719	233	100	control	control	NOUN
cblr-1719	233	101	,	,	PUNCT
cblr-1719	233	102	it	it	PRON
cblr-1719	233	103	is	be	AUX
cblr-1719	233	104	not	not	PART
cblr-1719	233	105	clear	clear	ADJ
cblr-1719	233	106	from	from	ADP
cblr-1719	233	107	the	the	DET
cblr-1719	233	108	agency	agency	NOUN
cblr-1719	233	109	theory	theory	NOUN
cblr-1719	233	110	whether	whether	SCONJ
cblr-1719	233	111	the	the	DET
cblr-1719	233	112	benefits	benefit	NOUN
cblr-1719	233	113	of	of	ADP
cblr-1719	233	114	the	the	DET
cblr-1719	233	115	incentive	incentive	NOUN
cblr-1719	233	116	effect	effect	NOUN
cblr-1719	233	117	would	would	AUX
cblr-1719	233	118	outweigh	outweigh	VERB
cblr-1719	233	119	the	the	DET
cblr-1719	233	120	costs	cost	NOUN
cblr-1719	233	121	of	of	ADP
cblr-1719	233	122	the	the	DET
cblr-1719	233	123	entrenchment	entrenchment	ADJ
cblr-1719	233	124	effect	effect	NOUN
cblr-1719	233	125	or	or	CCONJ
cblr-1719	233	126	the	the	DET
cblr-1719	233	127	other	other	ADJ
cblr-1719	233	128	way	way	NOUN
cblr-1719	233	129	around	around	ADV
cblr-1719	233	130	.	.	PUNCT
cblr-1719	234	1	easterbrook	easterbrook	PROPN
cblr-1719	234	2	and	and	CCONJ
cblr-1719	234	3	fischel	fischel	PROPN
cblr-1719	234	4	promoted	promote	VERB
cblr-1719	234	5	the	the	DET
cblr-1719	234	6	one	one	NUM
cblr-1719	234	7	-	-	PUNCT
cblr-1719	234	8	share	share	NOUN
cblr-1719	234	9	one	one	NUM
cblr-1719	234	10	-	-	PUNCT
cblr-1719	234	11	vote	vote	NOUN
cblr-1719	234	12	principle	principle	NOUN
cblr-1719	234	13	by	by	ADP
cblr-1719	234	14	arguing	argue	VERB
cblr-1719	234	15	that	that	SCONJ
cblr-1719	234	16	shareholders	shareholder	NOUN
cblr-1719	234	17	are	be	AUX
cblr-1719	234	18	the	the	DET
cblr-1719	234	19	only	only	ADJ
cblr-1719	234	20	group	group	NOUN
cblr-1719	234	21	of	of	ADP
cblr-1719	234	22	corporate	corporate	ADJ
cblr-1719	234	23	stakeholders	stakeholder	NOUN
cblr-1719	234	24	who	who	PRON
cblr-1719	234	25	have	have	VERB
cblr-1719	234	26	the	the	DET
cblr-1719	234	27	appropriate	appropriate	ADJ
cblr-1719	234	28	incentives	incentive	NOUN
cblr-1719	234	29	to	to	PART
cblr-1719	234	30	make	make	VERB
cblr-1719	234	31	discretionary	discretionary	ADJ
cblr-1719	234	32	decisions	decision	NOUN
cblr-1719	234	33	because	because	SCONJ
cblr-1719	234	34	they	they	PRON
cblr-1719	234	35	are	be	AUX
cblr-1719	234	36	the	the	DET
cblr-1719	234	37	ones	one	NOUN
cblr-1719	234	38	who	who	PRON
cblr-1719	234	39	bear	bear	VERB
cblr-1719	234	40	the	the	DET
cblr-1719	234	41	risks	risk	NOUN
cblr-1719	234	42	of	of	ADP
cblr-1719	234	43	bad	bad	ADJ
cblr-1719	234	44	decisions.73	decisions.73	NOUN
cblr-1719	234	45	leveraged	leveraged	ADJ
cblr-1719	234	46	control	control	NOUN
cblr-1719	234	47	would	would	AUX
cblr-1719	234	48	undermine	undermine	VERB
cblr-1719	234	49	the	the	DET
cblr-1719	234	50	incentive	incentive	NOUN
cblr-1719	234	51	mechanism	mechanism	NOUN
cblr-1719	234	52	arising	arise	VERB
cblr-1719	234	53	from	from	ADP
cblr-1719	234	54	ownership	ownership	NOUN
cblr-1719	234	55	-	-	PUNCT
cblr-1719	234	56	control	control	NOUN
cblr-1719	234	57	proportionality	proportionality	NOUN
cblr-1719	234	58	and	and	CCONJ
cblr-1719	234	59	result	result	VERB
cblr-1719	234	60	in	in	ADP
cblr-1719	234	61	great	great	ADJ
cblr-1719	234	62	risks	risk	NOUN
cblr-1719	234	63	of	of	ADP
cblr-1719	234	64	opportunistic	opportunistic	ADJ
cblr-1719	234	65	expropriation	expropriation	NOUN
cblr-1719	234	66	.	.	PUNCT
cblr-1719	235	1	furthermore	furthermore	ADV
cblr-1719	235	2	,	,	PUNCT
cblr-1719	235	3	a	a	DET
cblr-1719	235	4	controllingminority	controllingminority	NOUN
cblr-1719	235	5	structure	structure	NOUN
cblr-1719	235	6	would	would	AUX
cblr-1719	235	7	insulate	insulate	VERB
cblr-1719	235	8	controllers	controller	NOUN
cblr-1719	235	9	from	from	ADP
cblr-1719	235	10	potential	potential	ADJ
cblr-1719	235	11	takeovers	takeover	NOUN
cblr-1719	235	12	and	and	CCONJ
cblr-1719	235	13	protect	protect	VERB
cblr-1719	235	14	them	they	PRON
cblr-1719	235	15	from	from	ADP
cblr-1719	235	16	being	be	AUX
cblr-1719	235	17	replaced	replace	VERB
cblr-1719	235	18	,	,	PUNCT
cblr-1719	235	19	even	even	ADV
cblr-1719	235	20	if	if	SCONJ
cblr-1719	235	21	there	there	PRON
cblr-1719	235	22	are	be	VERB
cblr-1719	235	23	inefficiencies.74	inefficiencies.74	VERB
cblr-1719	235	24	as	as	ADP
cblr-1719	235	25	a	a	DET
cblr-1719	235	26	result	result	NOUN
cblr-1719	235	27	,	,	PUNCT
cblr-1719	235	28	leveraged	leveraged	ADJ
cblr-1719	235	29	control	control	NOUN
cblr-1719	235	30	firms	firm	NOUN
cblr-1719	235	31	71	71	NUM
cblr-1719	235	32	randall	randall	PROPN
cblr-1719	235	33	morck	morck	PROPN
cblr-1719	235	34	et	et	PROPN
cblr-1719	235	35	al	al	PROPN
cblr-1719	235	36	.	.	PROPN
cblr-1719	235	37	,	,	PUNCT
cblr-1719	235	38	management	management	NOUN
cblr-1719	235	39	ownership	ownership	NOUN
cblr-1719	235	40	and	and	CCONJ
cblr-1719	235	41	market	market	NOUN
cblr-1719	235	42	valuation	valuation	NOUN
cblr-1719	235	43	:	:	PUNCT
cblr-1719	235	44	an	an	DET
cblr-1719	235	45	empirical	empirical	ADJ
cblr-1719	235	46	analysis	analysis	NOUN
cblr-1719	235	47	,	,	PUNCT
cblr-1719	235	48	20	20	NUM
cblr-1719	235	49	j.	j.	PROPN
cblr-1719	235	50	fin	fin	PROPN
cblr-1719	235	51	.	.	PUNCT
cblr-1719	236	1	econ	econ	PROPN
cblr-1719	236	2	.	.	PROPN
cblr-1719	237	1	293	293	NUM
cblr-1719	237	2	,	,	PUNCT
cblr-1719	237	3	294	294	NUM
cblr-1719	237	4	(	(	PUNCT
cblr-1719	237	5	1988	1988	NUM
cblr-1719	237	6	)	)	PUNCT
cblr-1719	237	7	;	;	PUNCT
cblr-1719	237	8	morten	morten	PROPN
cblr-1719	237	9	bennedsen	bennedsen	PROPN
cblr-1719	237	10	&	&	CCONJ
cblr-1719	237	11	kasper	kasper	PROPN
cblr-1719	237	12	meisner	meisner	PROPN
cblr-1719	237	13	nielsen	nielsen	PROPN
cblr-1719	237	14	,	,	PUNCT
cblr-1719	237	15	incentive	incentive	NOUN
cblr-1719	237	16	and	and	CCONJ
cblr-1719	237	17	entrenchment	entrenchment	ADJ
cblr-1719	237	18	effects	effect	NOUN
cblr-1719	237	19	in	in	ADP
cblr-1719	237	20	european	european	ADJ
cblr-1719	237	21	ownership	ownership	NOUN
cblr-1719	237	22	,	,	PUNCT
cblr-1719	237	23	34	34	NUM
cblr-1719	237	24	j.	j.	PROPN
cblr-1719	237	25	banking	banking	PROPN
cblr-1719	237	26	&	&	CCONJ
cblr-1719	237	27	fin	fin	PROPN
cblr-1719	237	28	.	.	PUNCT
cblr-1719	237	29	2212	2212	NUM
cblr-1719	237	30	,	,	PUNCT
cblr-1719	237	31	2212	2212	NUM
cblr-1719	237	32	(	(	PUNCT
cblr-1719	237	33	2010	2010	NUM
cblr-1719	237	34	)	)	PUNCT
cblr-1719	237	35	.	.	PUNCT
cblr-1719	238	1	72	72	NUM
cblr-1719	238	2	ronald	ronald	PROPN
cblr-1719	238	3	j.	j.	PROPN
cblr-1719	238	4	gilson	gilson	PROPN
cblr-1719	238	5	&	&	CCONJ
cblr-1719	238	6	jeffrey	jeffrey	PROPN
cblr-1719	238	7	n.	n.	PROPN
cblr-1719	238	8	gordon	gordon	PROPN
cblr-1719	238	9	,	,	PUNCT
cblr-1719	238	10	controlling	control	VERB
cblr-1719	238	11	controlling	control	VERB
cblr-1719	238	12	shareholders	shareholder	NOUN
cblr-1719	238	13	,	,	PUNCT
cblr-1719	238	14	152	152	NUM
cblr-1719	238	15	u.	u.	PROPN
cblr-1719	238	16	pa	pa	PROPN
cblr-1719	238	17	.	.	PUNCT
cblr-1719	238	18	l.	l.	PROPN
cblr-1719	238	19	rev	rev	PROPN
cblr-1719	238	20	.	.	PROPN
cblr-1719	238	21	785	785	NUM
cblr-1719	238	22	,	,	PUNCT
cblr-1719	238	23	785–86	785–86	NUM
cblr-1719	238	24	(	(	PUNCT
cblr-1719	238	25	2003	2003	NUM
cblr-1719	238	26	)	)	PUNCT
cblr-1719	238	27	.	.	PUNCT
cblr-1719	239	1	73	73	NUM
cblr-1719	239	2	easterbrook	easterbrook	PROPN
cblr-1719	239	3	&	&	CCONJ
cblr-1719	239	4	fischel	fischel	PROPN
cblr-1719	239	5	,	,	PUNCT
cblr-1719	239	6	supra	supra	PROPN
cblr-1719	239	7	note	note	NOUN
cblr-1719	239	8	2	2	NUM
cblr-1719	239	9	,	,	PUNCT
cblr-1719	239	10	at	at	ADP
cblr-1719	239	11	67–70	67–70	NUM
cblr-1719	239	12	.	.	PUNCT
cblr-1719	240	1	74	74	NUM
cblr-1719	241	1	i	i	PRON
cblr-1719	241	2	d.	d.	NOUN
cblr-1719	241	3	at	at	ADP
cblr-1719	241	4	70–74	70–74	NUM
cblr-1719	241	5	;	;	PUNCT
cblr-1719	241	6	ringe	ringe	NOUN
cblr-1719	241	7	,	,	PUNCT
cblr-1719	241	8	supra	supra	PROPN
cblr-1719	241	9	note	note	NOUN
cblr-1719	241	10	32	32	NUM
cblr-1719	241	11	,	,	PUNCT
cblr-1719	241	12	at	at	ADP
cblr-1719	241	13	217	217	NUM
cblr-1719	241	14	.	.	PUNCT
cblr-1719	242	1	lin	lin	PROPN
cblr-1719	242	2	–	–	PUNCT
cblr-1719	242	3	final	final	ADJ
cblr-1719	242	4	no	no	NOUN
cblr-1719	242	5	.	.	PUNCT
cblr-1719	243	1	2:453	2:453	NUM
cblr-1719	243	2	]	]	X
cblr-1719	243	3	controlling	control	VERB
cblr-1719	243	4	-	-	PUNCT
cblr-1719	243	5	minority	minority	NOUN
cblr-1719	243	6	shareholders	shareholder	NOUN
cblr-1719	243	7	473	473	NUM
cblr-1719	243	8	suffer	suffer	VERB
cblr-1719	243	9	from	from	ADP
cblr-1719	243	10	increased	increase	VERB
cblr-1719	243	11	agency	agency	NOUN
cblr-1719	243	12	costs	cost	NOUN
cblr-1719	243	13	,	,	PUNCT
cblr-1719	243	14	which	which	PRON
cblr-1719	243	15	have	have	VERB
cblr-1719	243	16	an	an	DET
cblr-1719	243	17	adverse	adverse	ADJ
cblr-1719	243	18	effect	effect	NOUN
cblr-1719	243	19	on	on	ADP
cblr-1719	243	20	firm	firm	NOUN
cblr-1719	243	21	value.75	value.75	VERB
cblr-1719	243	22	the	the	DET
cblr-1719	243	23	agency	agency	NOUN
cblr-1719	243	24	theory	theory	NOUN
cblr-1719	243	25	provides	provide	VERB
cblr-1719	243	26	a	a	DET
cblr-1719	243	27	normative	normative	ADJ
cblr-1719	243	28	theory	theory	NOUN
cblr-1719	243	29	on	on	ADP
cblr-1719	243	30	concentrated	concentrated	ADJ
cblr-1719	243	31	ownership	ownership	NOUN
cblr-1719	243	32	.	.	PUNCT
cblr-1719	244	1	whether	whether	SCONJ
cblr-1719	244	2	a	a	DET
cblr-1719	244	3	leveraged	leverage	VERB
cblr-1719	244	4	control	control	NOUN
cblr-1719	244	5	structure	structure	NOUN
cblr-1719	244	6	generates	generate	VERB
cblr-1719	244	7	net	net	ADJ
cblr-1719	244	8	benefits	benefit	NOUN
cblr-1719	244	9	or	or	CCONJ
cblr-1719	244	10	net	net	ADJ
cblr-1719	244	11	costs	cost	NOUN
cblr-1719	244	12	to	to	ADP
cblr-1719	244	13	shareholders	shareholder	NOUN
cblr-1719	244	14	may	may	AUX
cblr-1719	244	15	vary	vary	VERB
cblr-1719	244	16	depending	depend	VERB
cblr-1719	244	17	on	on	ADP
cblr-1719	244	18	the	the	DET
cblr-1719	244	19	characteristics	characteristic	NOUN
cblr-1719	244	20	of	of	ADP
cblr-1719	244	21	the	the	DET
cblr-1719	244	22	companies	company	NOUN
cblr-1719	244	23	or	or	CCONJ
cblr-1719	244	24	the	the	DET
cblr-1719	244	25	regulatory	regulatory	ADJ
cblr-1719	244	26	environment	environment	NOUN
cblr-1719	244	27	of	of	ADP
cblr-1719	244	28	a	a	DET
cblr-1719	244	29	given	give	VERB
cblr-1719	244	30	jurisdiction	jurisdiction	NOUN
cblr-1719	244	31	.	.	PUNCT
cblr-1719	245	1	empirical	empirical	ADJ
cblr-1719	245	2	studies	study	NOUN
cblr-1719	245	3	are	be	AUX
cblr-1719	245	4	thus	thus	ADV
cblr-1719	245	5	useful	useful	ADJ
cblr-1719	245	6	for	for	ADP
cblr-1719	245	7	a	a	DET
cblr-1719	245	8	positive	positive	ADJ
cblr-1719	245	9	account	account	NOUN
cblr-1719	245	10	of	of	ADP
cblr-1719	245	11	the	the	DET
cblr-1719	245	12	net	net	ADJ
cblr-1719	245	13	effect	effect	NOUN
cblr-1719	245	14	of	of	ADP
cblr-1719	245	15	leveraged	leveraged	ADJ
cblr-1719	245	16	corporate	corporate	ADJ
cblr-1719	245	17	control	control	NOUN
cblr-1719	245	18	.	.	PUNCT
cblr-1719	246	1	b.	b.	PROPN
cblr-1719	246	2	freedom	freedom	NOUN
cblr-1719	246	3	of	of	ADP
cblr-1719	246	4	contract	contract	NOUN
cblr-1719	246	5	account	account	VERB
cblr-1719	246	6	the	the	DET
cblr-1719	246	7	freedom	freedom	NOUN
cblr-1719	246	8	of	of	ADP
cblr-1719	246	9	contract	contract	NOUN
cblr-1719	246	10	account	account	NOUN
cblr-1719	246	11	is	be	AUX
cblr-1719	246	12	a	a	DET
cblr-1719	246	13	market	market	NOUN
cblr-1719	246	14	-	-	PUNCT
cblr-1719	246	15	based	base	VERB
cblr-1719	246	16	claim	claim	NOUN
cblr-1719	246	17	that	that	PRON
cblr-1719	246	18	challenges	challenge	VERB
cblr-1719	246	19	the	the	DET
cblr-1719	246	20	strict	strict	ADJ
cblr-1719	246	21	proportionality	proportionality	NOUN
cblr-1719	246	22	principle	principle	NOUN
cblr-1719	246	23	from	from	ADP
cblr-1719	246	24	the	the	DET
cblr-1719	246	25	perspective	perspective	NOUN
cblr-1719	246	26	of	of	ADP
cblr-1719	246	27	contractual	contractual	ADJ
cblr-1719	246	28	freedom.76	freedom.76	PROPN
cblr-1719	246	29	proponents	proponent	NOUN
cblr-1719	246	30	of	of	ADP
cblr-1719	246	31	the	the	DET
cblr-1719	246	32	freedom	freedom	NOUN
cblr-1719	246	33	of	of	ADP
cblr-1719	246	34	contract	contract	NOUN
cblr-1719	246	35	account	account	NOUN
cblr-1719	246	36	consider	consider	VERB
cblr-1719	246	37	a	a	DET
cblr-1719	246	38	mandatory	mandatory	ADJ
cblr-1719	246	39	one	one	NUM
cblr-1719	246	40	-	-	PUNCT
cblr-1719	246	41	share	share	NOUN
cblr-1719	246	42	one	one	NUM
cblr-1719	246	43	-	-	PUNCT
cblr-1719	246	44	vote	vote	NOUN
cblr-1719	246	45	rule	rule	NOUN
cblr-1719	246	46	as	as	ADP
cblr-1719	246	47	interference	interference	NOUN
cblr-1719	246	48	in	in	ADP
cblr-1719	246	49	shareholder	shareholder	NOUN
cblr-1719	246	50	’s	’s	PART
cblr-1719	246	51	sovereignty	sovereignty	NOUN
cblr-1719	246	52	and	and	CCONJ
cblr-1719	246	53	independence	independence	NOUN
cblr-1719	246	54	.	.	PUNCT
cblr-1719	247	1	shareholders	shareholder	NOUN
cblr-1719	247	2	are	be	AUX
cblr-1719	247	3	free	free	ADJ
cblr-1719	247	4	to	to	PART
cblr-1719	247	5	decide	decide	VERB
cblr-1719	247	6	a	a	DET
cblr-1719	247	7	company	company	NOUN
cblr-1719	247	8	’s	’s	PART
cblr-1719	247	9	internal	internal	ADJ
cblr-1719	247	10	affairs	affair	NOUN
cblr-1719	247	11	because	because	SCONJ
cblr-1719	247	12	they	they	PRON
cblr-1719	247	13	are	be	AUX
cblr-1719	247	14	the	the	DET
cblr-1719	247	15	ones	one	NOUN
cblr-1719	247	16	who	who	PRON
cblr-1719	247	17	ultimately	ultimately	ADV
cblr-1719	247	18	bear	bear	VERB
cblr-1719	247	19	the	the	DET
cblr-1719	247	20	risks	risk	NOUN
cblr-1719	247	21	.	.	PUNCT
cblr-1719	248	1	companies	company	NOUN
cblr-1719	248	2	should	should	AUX
cblr-1719	248	3	enjoy	enjoy	VERB
cblr-1719	248	4	autonomy	autonomy	NOUN
cblr-1719	248	5	and	and	CCONJ
cblr-1719	248	6	regulators	regulator	NOUN
cblr-1719	248	7	should	should	AUX
cblr-1719	248	8	not	not	PART
cblr-1719	248	9	intervene	intervene	VERB
cblr-1719	248	10	unless	unless	SCONJ
cblr-1719	248	11	the	the	DET
cblr-1719	248	12	corporate	corporate	ADJ
cblr-1719	248	13	decision	decision	NOUN
cblr-1719	248	14	causes	cause	VERB
cblr-1719	248	15	harm	harm	NOUN
cblr-1719	248	16	to	to	ADP
cblr-1719	248	17	society	society	NOUN
cblr-1719	248	18	as	as	ADP
cblr-1719	248	19	a	a	DET
cblr-1719	248	20	whole	whole	NOUN
cblr-1719	248	21	.	.	PUNCT
cblr-1719	249	1	the	the	DET
cblr-1719	249	2	freedom	freedom	NOUN
cblr-1719	249	3	of	of	ADP
cblr-1719	249	4	contract	contract	NOUN
cblr-1719	249	5	claim	claim	NOUN
cblr-1719	249	6	basically	basically	ADV
cblr-1719	249	7	advocates	advocate	VERB
cblr-1719	249	8	contractual	contractual	ADJ
cblr-1719	249	9	freedom	freedom	NOUN
cblr-1719	249	10	among	among	ADP
cblr-1719	249	11	shareholders	shareholder	NOUN
cblr-1719	249	12	for	for	ADP
cblr-1719	249	13	the	the	DET
cblr-1719	249	14	governance	governance	NOUN
cblr-1719	249	15	of	of	ADP
cblr-1719	249	16	internal	internal	ADJ
cblr-1719	249	17	corporate	corporate	ADJ
cblr-1719	249	18	affairs.77	affairs.77	NOUN
cblr-1719	249	19	this	this	PRON
cblr-1719	249	20	is	be	AUX
cblr-1719	249	21	the	the	DET
cblr-1719	249	22	claim	claim	NOUN
cblr-1719	249	23	that	that	PRON
cblr-1719	249	24	is	be	AUX
cblr-1719	249	25	mostly	mostly	ADV
cblr-1719	249	26	used	use	VERB
cblr-1719	249	27	by	by	ADP
cblr-1719	249	28	nordic	nordic	ADJ
cblr-1719	249	29	scholars	scholar	NOUN
cblr-1719	249	30	and	and	CCONJ
cblr-1719	249	31	policy	policy	NOUN
cblr-1719	249	32	makers	maker	NOUN
cblr-1719	249	33	to	to	PART
cblr-1719	249	34	explain	explain	VERB
cblr-1719	249	35	the	the	DET
cblr-1719	249	36	widespread	widespread	ADJ
cblr-1719	249	37	adoption	adoption	NOUN
cblr-1719	249	38	of	of	ADP
cblr-1719	249	39	multiple	multiple	ADJ
cblr-1719	249	40	voting	voting	NOUN
cblr-1719	249	41	rights	right	NOUN
cblr-1719	249	42	shares	share	NOUN
cblr-1719	249	43	in	in	ADP
cblr-1719	249	44	the	the	DET
cblr-1719	249	45	region.78	region.78	ADJ
cblr-1719	249	46	c.	c.	NOUN
cblr-1719	249	47	long	long	ADJ
cblr-1719	249	48	-	-	PUNCT
cblr-1719	249	49	term	term	NOUN
cblr-1719	249	50	value	value	NOUN
cblr-1719	249	51	account	account	VERB
cblr-1719	249	52	the	the	DET
cblr-1719	249	53	long	long	ADJ
cblr-1719	249	54	-	-	PUNCT
cblr-1719	249	55	term	term	NOUN
cblr-1719	249	56	value	value	NOUN
cblr-1719	249	57	account	account	NOUN
cblr-1719	249	58	argues	argue	VERB
cblr-1719	249	59	that	that	SCONJ
cblr-1719	249	60	by	by	ADP
cblr-1719	249	61	shielding	shield	VERB
cblr-1719	249	62	companies	company	NOUN
cblr-1719	249	63	from	from	ADP
cblr-1719	249	64	the	the	DET
cblr-1719	249	65	market	market	NOUN
cblr-1719	249	66	for	for	ADP
cblr-1719	249	67	corporate	corporate	ADJ
cblr-1719	249	68	control	control	NOUN
cblr-1719	249	69	,	,	PUNCT
cblr-1719	249	70	controlenhancing	controlenhancing	ADJ
cblr-1719	249	71	mechanisms	mechanism	NOUN
cblr-1719	249	72	help	help	VERB
cblr-1719	249	73	incumbents	incumbent	NOUN
cblr-1719	249	74	fight	fight	VERB
cblr-1719	249	75	short	short	ADJ
cblr-1719	249	76	-	-	PUNCT
cblr-1719	249	77	termism	termism	NOUN
cblr-1719	249	78	75	75	NUM
cblr-1719	249	79	lucian	lucian	ADJ
cblr-1719	249	80	a.	a.	NOUN
cblr-1719	249	81	bebchuk	bebchuk	PROPN
cblr-1719	249	82	,	,	PUNCT
cblr-1719	249	83	the	the	DET
cblr-1719	249	84	myth	myth	NOUN
cblr-1719	249	85	that	that	SCONJ
cblr-1719	249	86	insulating	insulate	VERB
cblr-1719	249	87	boards	board	NOUN
cblr-1719	249	88	serves	serve	VERB
cblr-1719	249	89	longterm	longterm	NOUN
cblr-1719	249	90	value	value	NOUN
cblr-1719	249	91	,	,	PUNCT
cblr-1719	249	92	113	113	NUM
cblr-1719	249	93	colum	colum	NOUN
cblr-1719	249	94	.	.	PUNCT
cblr-1719	250	1	l.	l.	PROPN
cblr-1719	250	2	rev	rev	PROPN
cblr-1719	250	3	.	.	PROPN
cblr-1719	250	4	1637	1637	NUM
cblr-1719	250	5	,	,	PUNCT
cblr-1719	250	6	1684–86	1684–86	NUM
cblr-1719	250	7	(	(	PUNCT
cblr-1719	250	8	2013	2013	NUM
cblr-1719	250	9	)	)	PUNCT
cblr-1719	250	10	.	.	PUNCT
cblr-1719	251	1	76	76	NUM
cblr-1719	251	2	see	see	VERB
cblr-1719	251	3	oecd	oecd	PROPN
cblr-1719	251	4	steering	steering	NOUN
cblr-1719	251	5	group	group	NOUN
cblr-1719	251	6	on	on	ADP
cblr-1719	251	7	corporate	corporate	ADJ
cblr-1719	251	8	governance	governance	NOUN
cblr-1719	251	9	,	,	PUNCT
cblr-1719	251	10	supra	supra	PROPN
cblr-1719	251	11	note	note	NOUN
cblr-1719	251	12	24	24	NUM
cblr-1719	251	13	,	,	PUNCT
cblr-1719	251	14	at	at	ADP
cblr-1719	251	15	6–7	6–7	NUM
cblr-1719	251	16	;	;	PUNCT
cblr-1719	251	17	ringe	ringe	NOUN
cblr-1719	251	18	,	,	PUNCT
cblr-1719	251	19	supra	supra	PROPN
cblr-1719	251	20	note	note	NOUN
cblr-1719	251	21	32	32	NUM
cblr-1719	251	22	,	,	PUNCT
cblr-1719	251	23	at	at	ADP
cblr-1719	251	24	219	219	NUM
cblr-1719	251	25	.	.	PUNCT
cblr-1719	252	1	77	77	NUM
cblr-1719	252	2	ringe	ringe	PROPN
cblr-1719	252	3	,	,	PUNCT
cblr-1719	252	4	supra	supra	PROPN
cblr-1719	252	5	note	note	NOUN
cblr-1719	252	6	32	32	NUM
cblr-1719	252	7	,	,	PUNCT
cblr-1719	252	8	at	at	ADP
cblr-1719	252	9	219	219	NUM
cblr-1719	252	10	.	.	PUNCT
cblr-1719	253	1	78	78	NUM
cblr-1719	253	2	ulf	ulf	PROPN
cblr-1719	253	3	bernitz	bernitz	PROPN
cblr-1719	253	4	,	,	PUNCT
cblr-1719	253	5	the	the	DET
cblr-1719	253	6	attack	attack	NOUN
cblr-1719	253	7	on	on	ADP
cblr-1719	253	8	the	the	DET
cblr-1719	253	9	nordic	nordic	ADJ
cblr-1719	253	10	multiple	multiple	ADJ
cblr-1719	253	11	voting	voting	NOUN
cblr-1719	253	12	rights	right	NOUN
cblr-1719	253	13	model	model	NOUN
cblr-1719	253	14	:	:	PUNCT
cblr-1719	253	15	the	the	DET
cblr-1719	253	16	legal	legal	ADJ
cblr-1719	253	17	limits	limit	NOUN
cblr-1719	253	18	under	under	ADP
cblr-1719	253	19	eu	eu	PROPN
cblr-1719	253	20	law	law	NOUN
cblr-1719	253	21	,	,	PUNCT
cblr-1719	253	22	15	15	NUM
cblr-1719	253	23	eur	eur	NOUN
cblr-1719	253	24	.	.	PUNCT
cblr-1719	253	25	bus	bus	NOUN
cblr-1719	253	26	.	.	PUNCT
cblr-1719	254	1	l.	l.	PROPN
cblr-1719	254	2	rev	rev	PROPN
cblr-1719	254	3	.	.	PROPN
cblr-1719	254	4	1423	1423	NUM
cblr-1719	254	5	,	,	PUNCT
cblr-1719	254	6	1424	1424	NUM
cblr-1719	254	7	(	(	PUNCT
cblr-1719	254	8	2004	2004	NUM
cblr-1719	254	9	)	)	PUNCT
cblr-1719	254	10	.	.	PUNCT
cblr-1719	255	1	lin	lin	PROPN
cblr-1719	255	2	–	–	PUNCT
cblr-1719	255	3	final	final	ADJ
cblr-1719	255	4	474	474	NUM
cblr-1719	255	5	columbia	columbia	PROPN
cblr-1719	255	6	business	business	NOUN
cblr-1719	255	7	law	law	PROPN
cblr-1719	255	8	review	review	NOUN
cblr-1719	255	9	[	[	X
cblr-1719	255	10	vol	vol	NOUN
cblr-1719	255	11	.	.	NOUN
cblr-1719	255	12	2017	2017	NUM
cblr-1719	255	13	and	and	CCONJ
cblr-1719	255	14	encourage	encourage	VERB
cblr-1719	255	15	them	they	PRON
cblr-1719	255	16	to	to	PART
cblr-1719	255	17	pursue	pursue	VERB
cblr-1719	255	18	long	long	ADJ
cblr-1719	255	19	-	-	PUNCT
cblr-1719	255	20	term	term	NOUN
cblr-1719	255	21	investments	investment	NOUN
cblr-1719	255	22	,	,	PUNCT
cblr-1719	255	23	which	which	PRON
cblr-1719	255	24	in	in	ADP
cblr-1719	255	25	turn	turn	NOUN
cblr-1719	255	26	increase	increase	VERB
cblr-1719	255	27	long	long	ADJ
cblr-1719	255	28	-	-	PUNCT
cblr-1719	255	29	term	term	NOUN
cblr-1719	255	30	shareholder	shareholder	NOUN
cblr-1719	255	31	value.79	value.79	NOUN
cblr-1719	255	32	recent	recent	ADJ
cblr-1719	255	33	legal	legal	ADJ
cblr-1719	255	34	scholarship	scholarship	NOUN
cblr-1719	255	35	further	far	ADV
cblr-1719	255	36	expands	expand	VERB
cblr-1719	255	37	on	on	ADP
cblr-1719	255	38	this	this	DET
cblr-1719	255	39	argument	argument	NOUN
cblr-1719	255	40	by	by	ADP
cblr-1719	255	41	focusing	focus	VERB
cblr-1719	255	42	on	on	ADP
cblr-1719	255	43	entrepreneurial	entrepreneurial	ADJ
cblr-1719	255	44	vision	vision	NOUN
cblr-1719	255	45	.	.	PUNCT
cblr-1719	256	1	in	in	ADP
cblr-1719	256	2	recent	recent	ADJ
cblr-1719	256	3	years	year	NOUN
cblr-1719	256	4	,	,	PUNCT
cblr-1719	256	5	many	many	ADJ
cblr-1719	256	6	high	high	ADJ
cblr-1719	256	7	-	-	PUNCT
cblr-1719	256	8	tech	tech	NOUN
cblr-1719	256	9	firms	firm	NOUN
cblr-1719	256	10	have	have	AUX
cblr-1719	256	11	gone	go	VERB
cblr-1719	256	12	public	public	ADJ
cblr-1719	256	13	with	with	ADP
cblr-1719	256	14	their	their	PRON
cblr-1719	256	15	entrepreneurs	entrepreneur	NOUN
cblr-1719	256	16	still	still	ADV
cblr-1719	256	17	maintaining	maintain	VERB
cblr-1719	256	18	control	control	NOUN
cblr-1719	256	19	through	through	ADP
cblr-1719	256	20	the	the	DET
cblr-1719	256	21	adoption	adoption	NOUN
cblr-1719	256	22	of	of	ADP
cblr-1719	256	23	dual	dual	ADJ
cblr-1719	256	24	-	-	PUNCT
cblr-1719	256	25	class	class	NOUN
cblr-1719	256	26	shares	share	NOUN
cblr-1719	256	27	or	or	CCONJ
cblr-1719	256	28	other	other	ADJ
cblr-1719	256	29	control	control	NOUN
cblr-1719	256	30	-	-	PUNCT
cblr-1719	256	31	enhancing	enhance	VERB
cblr-1719	256	32	mechanisms	mechanism	NOUN
cblr-1719	256	33	.	.	PUNCT
cblr-1719	257	1	scholars	scholar	NOUN
cblr-1719	257	2	argue	argue	VERB
cblr-1719	257	3	that	that	SCONJ
cblr-1719	257	4	entrepreneurs	entrepreneur	NOUN
cblr-1719	257	5	usually	usually	ADV
cblr-1719	257	6	possess	possess	VERB
cblr-1719	257	7	idiosyncratic	idiosyncratic	ADJ
cblr-1719	257	8	visions	vision	NOUN
cblr-1719	257	9	for	for	ADP
cblr-1719	257	10	their	their	PRON
cblr-1719	257	11	companies	company	NOUN
cblr-1719	257	12	that	that	SCONJ
cblr-1719	257	13	outside	outside	ADJ
cblr-1719	257	14	shareholders	shareholder	NOUN
cblr-1719	257	15	do	do	AUX
cblr-1719	257	16	not	not	PART
cblr-1719	257	17	have.80	have.80	VERB
cblr-1719	257	18	with	with	ADP
cblr-1719	257	19	stable	stable	ADJ
cblr-1719	257	20	control	control	NOUN
cblr-1719	257	21	,	,	PUNCT
cblr-1719	257	22	entrepreneurs	entrepreneur	NOUN
cblr-1719	257	23	will	will	AUX
cblr-1719	257	24	be	be	AUX
cblr-1719	257	25	able	able	ADJ
cblr-1719	257	26	to	to	PART
cblr-1719	257	27	realize	realize	VERB
cblr-1719	257	28	their	their	PRON
cblr-1719	257	29	idiosyncratic	idiosyncratic	ADJ
cblr-1719	257	30	visions	vision	NOUN
cblr-1719	257	31	by	by	ADP
cblr-1719	257	32	executing	execute	VERB
cblr-1719	257	33	the	the	DET
cblr-1719	257	34	business	business	NOUN
cblr-1719	257	35	decisions	decision	NOUN
cblr-1719	257	36	of	of	ADP
cblr-1719	257	37	their	their	PRON
cblr-1719	257	38	choice	choice	NOUN
cblr-1719	257	39	even	even	ADV
cblr-1719	257	40	though	though	SCONJ
cblr-1719	257	41	outside	outside	ADJ
cblr-1719	257	42	investors	investor	NOUN
cblr-1719	257	43	may	may	AUX
cblr-1719	257	44	not	not	PART
cblr-1719	257	45	recognize	recognize	VERB
cblr-1719	257	46	the	the	DET
cblr-1719	257	47	potential	potential	ADJ
cblr-1719	257	48	value	value	NOUN
cblr-1719	257	49	of	of	ADP
cblr-1719	257	50	the	the	DET
cblr-1719	257	51	decision	decision	NOUN
cblr-1719	257	52	.	.	PUNCT
cblr-1719	258	1	if	if	SCONJ
cblr-1719	258	2	an	an	DET
cblr-1719	258	3	investment	investment	NOUN
cblr-1719	258	4	succeeds	succeed	VERB
cblr-1719	258	5	,	,	PUNCT
cblr-1719	258	6	all	all	DET
cblr-1719	258	7	the	the	DET
cblr-1719	258	8	shareholders	shareholder	NOUN
cblr-1719	258	9	will	will	AUX
cblr-1719	258	10	share	share	VERB
cblr-1719	258	11	the	the	DET
cblr-1719	258	12	profits	profit	NOUN
cblr-1719	258	13	pro	pro	ADJ
cblr-1719	258	14	rata	rata	NOUN
cblr-1719	258	15	.	.	PUNCT
cblr-1719	259	1	thus	thus	ADV
cblr-1719	259	2	,	,	PUNCT
cblr-1719	259	3	a	a	DET
cblr-1719	259	4	dual	dual	ADJ
cblr-1719	259	5	-	-	PUNCT
cblr-1719	259	6	class	class	NOUN
cblr-1719	259	7	share	share	NOUN
cblr-1719	259	8	structure	structure	NOUN
cblr-1719	259	9	is	be	AUX
cblr-1719	259	10	likely	likely	ADJ
cblr-1719	259	11	to	to	PART
cblr-1719	259	12	benefit	benefit	VERB
cblr-1719	259	13	the	the	DET
cblr-1719	259	14	investors	investor	NOUN
cblr-1719	259	15	if	if	SCONJ
cblr-1719	259	16	the	the	DET
cblr-1719	259	17	entrepreneurs	entrepreneur	NOUN
cblr-1719	259	18	turn	turn	VERB
cblr-1719	259	19	out	out	ADP
cblr-1719	259	20	to	to	PART
cblr-1719	259	21	be	be	AUX
cblr-1719	259	22	right.81	right.81	NOUN
cblr-1719	259	23	this	this	PRON
cblr-1719	259	24	is	be	AUX
cblr-1719	259	25	especially	especially	ADV
cblr-1719	259	26	true	true	ADJ
cblr-1719	259	27	with	with	ADP
cblr-1719	259	28	today	today	NOUN
cblr-1719	259	29	’s	’s	PART
cblr-1719	259	30	corporations	corporation	NOUN
cblr-1719	259	31	.	.	PUNCT
cblr-1719	260	1	unlike	unlike	ADP
cblr-1719	260	2	the	the	DET
cblr-1719	260	3	corporations	corporation	NOUN
cblr-1719	260	4	during	during	ADP
cblr-1719	260	5	the	the	DET
cblr-1719	260	6	industrial	industrial	ADJ
cblr-1719	260	7	age	age	NOUN
cblr-1719	260	8	when	when	SCONJ
cblr-1719	260	9	most	most	ADJ
cblr-1719	260	10	of	of	ADP
cblr-1719	260	11	their	their	PRON
cblr-1719	260	12	value	value	NOUN
cblr-1719	260	13	was	be	AUX
cblr-1719	260	14	derived	derive	VERB
cblr-1719	260	15	from	from	ADP
cblr-1719	260	16	physical	physical	ADJ
cblr-1719	260	17	assets	asset	NOUN
cblr-1719	260	18	and	and	CCONJ
cblr-1719	260	19	manufacturing	manufacturing	NOUN
cblr-1719	260	20	activities	activity	NOUN
cblr-1719	260	21	,	,	PUNCT
cblr-1719	260	22	corporations	corporation	NOUN
cblr-1719	260	23	in	in	ADP
cblr-1719	260	24	the	the	DET
cblr-1719	260	25	information	information	NOUN
cblr-1719	260	26	economy	economy	NOUN
cblr-1719	260	27	create	create	VERB
cblr-1719	260	28	value	value	NOUN
cblr-1719	260	29	from	from	ADP
cblr-1719	260	30	human	human	ADJ
cblr-1719	260	31	capital	capital	NOUN
cblr-1719	260	32	and	and	CCONJ
cblr-1719	260	33	intangible	intangible	ADJ
cblr-1719	260	34	assets	asset	NOUN
cblr-1719	260	35	,	,	PUNCT
cblr-1719	260	36	such	such	ADJ
cblr-1719	260	37	as	as	ADP
cblr-1719	260	38	know	know	NOUN
cblr-1719	260	39	-	-	PUNCT
cblr-1719	260	40	how	how	NOUN
cblr-1719	260	41	,	,	PUNCT
cblr-1719	260	42	patents	patent	NOUN
cblr-1719	260	43	,	,	PUNCT
cblr-1719	260	44	and	and	CCONJ
cblr-1719	260	45	research	research	NOUN
cblr-1719	260	46	and	and	CCONJ
cblr-1719	260	47	development	development	NOUN
cblr-1719	260	48	projects.82	projects.82	NOUN
cblr-1719	260	49	from	from	ADP
cblr-1719	260	50	the	the	DET
cblr-1719	260	51	perspective	perspective	NOUN
cblr-1719	260	52	of	of	ADP
cblr-1719	260	53	asset	asset	NOUN
cblr-1719	260	54	pricing	pricing	NOUN
cblr-1719	260	55	theory	theory	NOUN
cblr-1719	260	56	,	,	PUNCT
cblr-1719	260	57	information	information	NOUN
cblr-1719	260	58	about	about	ADP
cblr-1719	260	59	the	the	DET
cblr-1719	260	60	value	value	NOUN
cblr-1719	260	61	of	of	ADP
cblr-1719	260	62	long	long	ADJ
cblr-1719	260	63	-	-	PUNCT
cblr-1719	260	64	term	term	NOUN
cblr-1719	260	65	investments	investment	NOUN
cblr-1719	260	66	is	be	AUX
cblr-1719	260	67	not	not	PART
cblr-1719	260	68	observable	observable	ADJ
cblr-1719	260	69	or	or	CCONJ
cblr-1719	260	70	verifiable	verifiable	ADJ
cblr-1719	260	71	by	by	ADP
cblr-1719	260	72	outside	outside	ADJ
cblr-1719	260	73	investors	investor	NOUN
cblr-1719	260	74	and	and	CCONJ
cblr-1719	260	75	hence	hence	ADV
cblr-1719	260	76	it	it	PRON
cblr-1719	260	77	is	be	AUX
cblr-1719	260	78	less	less	ADV
cblr-1719	260	79	accurately	accurately	ADV
cblr-1719	260	80	reflected	reflect	VERB
cblr-1719	260	81	in	in	ADP
cblr-1719	260	82	the	the	DET
cblr-1719	260	83	asset	asset	NOUN
cblr-1719	260	84	price	price	NOUN
cblr-1719	260	85	.	.	PUNCT
cblr-1719	261	1	in	in	ADP
cblr-1719	261	2	this	this	DET
cblr-1719	261	3	situation	situation	NOUN
cblr-1719	261	4	,	,	PUNCT
cblr-1719	261	5	the	the	DET
cblr-1719	261	6	market	market	NOUN
cblr-1719	261	7	is	be	AUX
cblr-1719	261	8	more	more	ADV
cblr-1719	261	9	likely	likely	ADJ
cblr-1719	261	10	to	to	PART
cblr-1719	261	11	suffer	suffer	VERB
cblr-1719	261	12	from	from	ADP
cblr-1719	261	13	short	short	ADJ
cblr-1719	261	14	-	-	PUNCT
cblr-1719	261	15	termism	termism	NOUN
cblr-1719	261	16	because	because	SCONJ
cblr-1719	261	17	shareholders	shareholder	NOUN
cblr-1719	261	18	are	be	AUX
cblr-1719	261	19	apt	apt	ADJ
cblr-1719	261	20	to	to	PART
cblr-1719	261	21	misjudge	misjudge	VERB
cblr-1719	261	22	a	a	DET
cblr-1719	261	23	valuable	valuable	ADJ
cblr-1719	261	24	long	long	ADJ
cblr-1719	261	25	-	-	PUNCT
cblr-1719	261	26	term	term	NOUN
cblr-1719	261	27	investment	investment	NOUN
cblr-1719	261	28	as	as	ADP
cblr-1719	261	29	valuedecreasing	valuedecrease	VERB
cblr-1719	261	30	because	because	SCONJ
cblr-1719	261	31	of	of	ADP
cblr-1719	261	32	a	a	DET
cblr-1719	261	33	short	short	ADJ
cblr-1719	261	34	-	-	PUNCT
cblr-1719	261	35	term	term	NOUN
cblr-1719	261	36	increase	increase	NOUN
cblr-1719	261	37	in	in	ADP
cblr-1719	261	38	capital	capital	NOUN
cblr-1719	261	39	79	79	NUM
cblr-1719	261	40	see	see	VERB
cblr-1719	261	41	lynn	lynn	PROPN
cblr-1719	261	42	stout	stout	PROPN
cblr-1719	261	43	,	,	PUNCT
cblr-1719	261	44	the	the	DET
cblr-1719	261	45	shareholder	shareholder	NOUN
cblr-1719	261	46	value	value	NOUN
cblr-1719	261	47	myth	myth	NOUN
cblr-1719	261	48	:	:	PUNCT
cblr-1719	261	49	how	how	SCONJ
cblr-1719	261	50	putting	put	VERB
cblr-1719	261	51	shareholders	shareholder	NOUN
cblr-1719	261	52	first	first	ADV
cblr-1719	261	53	harms	harm	VERB
cblr-1719	261	54	investors	investor	NOUN
cblr-1719	261	55	,	,	PUNCT
cblr-1719	261	56	corporations	corporation	NOUN
cblr-1719	261	57	,	,	PUNCT
cblr-1719	261	58	and	and	CCONJ
cblr-1719	261	59	the	the	DET
cblr-1719	261	60	public	public	ADJ
cblr-1719	261	61	63–73	63–73	NUM
cblr-1719	261	62	(	(	PUNCT
cblr-1719	261	63	2012	2012	NUM
cblr-1719	261	64	)	)	PUNCT
cblr-1719	261	65	;	;	PUNCT
cblr-1719	261	66	william	william	PROPN
cblr-1719	261	67	w.	w.	PROPN
cblr-1719	261	68	bratton	bratton	PROPN
cblr-1719	261	69	&	&	CCONJ
cblr-1719	261	70	michael	michael	PROPN
cblr-1719	261	71	l.	l.	PROPN
cblr-1719	261	72	wachter	wachter	PROPN
cblr-1719	261	73	,	,	PUNCT
cblr-1719	261	74	the	the	DET
cblr-1719	261	75	case	case	NOUN
cblr-1719	261	76	against	against	ADP
cblr-1719	261	77	shareholder	shareholder	NOUN
cblr-1719	261	78	empowerment	empowerment	NOUN
cblr-1719	261	79	,	,	PUNCT
cblr-1719	261	80	158	158	NUM
cblr-1719	261	81	u.	u.	PROPN
cblr-1719	261	82	pa	pa	PROPN
cblr-1719	261	83	.	.	PUNCT
cblr-1719	261	84	l.	l.	PROPN
cblr-1719	261	85	rev	rev	PROPN
cblr-1719	261	86	.	.	PROPN
cblr-1719	261	87	653	653	NUM
cblr-1719	261	88	,	,	PUNCT
cblr-1719	261	89	656	656	NUM
cblr-1719	261	90	(	(	PUNCT
cblr-1719	261	91	2010	2010	NUM
cblr-1719	261	92	)	)	PUNCT
cblr-1719	261	93	;	;	PUNCT
cblr-1719	261	94	stephen	stephen	PROPN
cblr-1719	261	95	m.	m.	PROPN
cblr-1719	261	96	bainbridge	bainbridge	PROPN
cblr-1719	261	97	,	,	PUNCT
cblr-1719	261	98	director	director	NOUN
cblr-1719	261	99	primacy	primacy	NOUN
cblr-1719	261	100	and	and	CCONJ
cblr-1719	261	101	shareholder	shareholder	NOUN
cblr-1719	261	102	disempowerment	disempowerment	NOUN
cblr-1719	261	103	,	,	PUNCT
cblr-1719	261	104	119	119	NUM
cblr-1719	261	105	harv	harv	NOUN
cblr-1719	261	106	.	.	PUNCT
cblr-1719	262	1	l.	l.	PROPN
cblr-1719	262	2	rev	rev	PROPN
cblr-1719	262	3	.	.	PROPN
cblr-1719	262	4	1735	1735	NUM
cblr-1719	262	5	,	,	PUNCT
cblr-1719	262	6	1739	1739	NUM
cblr-1719	262	7	(	(	PUNCT
cblr-1719	262	8	2006	2006	NUM
cblr-1719	262	9	)	)	PUNCT
cblr-1719	262	10	.	.	PUNCT
cblr-1719	263	1	80	80	NUM
cblr-1719	263	2	zohar	zohar	PROPN
cblr-1719	263	3	goshen	goshen	PROPN
cblr-1719	263	4	&	&	CCONJ
cblr-1719	263	5	assaf	assaf	PROPN
cblr-1719	263	6	hamdani	hamdani	PROPN
cblr-1719	263	7	,	,	PUNCT
cblr-1719	263	8	corporate	corporate	ADJ
cblr-1719	263	9	control	control	NOUN
cblr-1719	263	10	and	and	CCONJ
cblr-1719	263	11	idiosyncratic	idiosyncratic	ADJ
cblr-1719	263	12	vision	vision	NOUN
cblr-1719	263	13	,	,	PUNCT
cblr-1719	263	14	125	125	NUM
cblr-1719	263	15	yale	yale	PROPN
cblr-1719	263	16	l.j	l.j	PROPN
cblr-1719	263	17	.	.	PROPN
cblr-1719	263	18	560	560	NUM
cblr-1719	263	19	,	,	PUNCT
cblr-1719	263	20	577–579	577–579	NUM
cblr-1719	263	21	(	(	PUNCT
cblr-1719	263	22	2016	2016	NUM
cblr-1719	263	23	)	)	PUNCT
cblr-1719	263	24	.	.	PUNCT
cblr-1719	264	1	81	81	NUM
cblr-1719	264	2	see	see	VERB
cblr-1719	264	3	i	i	PROPN
cblr-1719	264	4	d.	d.	PROPN
cblr-1719	264	5	82	82	NUM
cblr-1719	264	6	see	see	VERB
cblr-1719	264	7	carol	carol	NOUN
cblr-1719	264	8	a.	a.	PROPN
cblr-1719	264	9	corrado	corrado	PROPN
cblr-1719	264	10	&	&	CCONJ
cblr-1719	264	11	charles	charles	PROPN
cblr-1719	264	12	r.	r.	PROPN
cblr-1719	264	13	hulten	hulten	PROPN
cblr-1719	264	14	,	,	PUNCT
cblr-1719	264	15	how	how	SCONJ
cblr-1719	264	16	do	do	AUX
cblr-1719	264	17	you	you	PRON
cblr-1719	264	18	measure	measure	VERB
cblr-1719	264	19	a	a	DET
cblr-1719	264	20	“	"	PUNCT
cblr-1719	264	21	technological	technological	ADJ
cblr-1719	264	22	revolution	revolution	NOUN
cblr-1719	264	23	”	"	PUNCT
cblr-1719	264	24	?	?	PUNCT
cblr-1719	264	25	,	,	PUNCT
cblr-1719	264	26	100	100	NUM
cblr-1719	264	27	am	am	NOUN
cblr-1719	264	28	.	.	PUNCT
cblr-1719	265	1	econ	econ	PROPN
cblr-1719	265	2	.	.	PUNCT
cblr-1719	266	1	rev	rev	PROPN
cblr-1719	266	2	.	.	PROPN
cblr-1719	266	3	99	99	NUM
cblr-1719	266	4	,	,	PUNCT
cblr-1719	266	5	100–03	100–03	NUM
cblr-1719	266	6	(	(	PUNCT
cblr-1719	266	7	2010	2010	NUM
cblr-1719	266	8	)	)	PUNCT
cblr-1719	266	9	.	.	PUNCT
cblr-1719	267	1	lin	lin	PROPN
cblr-1719	267	2	–	–	PUNCT
cblr-1719	267	3	final	final	ADJ
cblr-1719	267	4	no	no	NOUN
cblr-1719	267	5	.	.	PUNCT
cblr-1719	268	1	2:453	2:453	NUM
cblr-1719	268	2	]	]	X
cblr-1719	268	3	controlling	control	VERB
cblr-1719	268	4	-	-	PUNCT
cblr-1719	268	5	minority	minority	NOUN
cblr-1719	268	6	shareholders	shareholder	NOUN
cblr-1719	268	7	475	475	NUM
cblr-1719	268	8	expenditure.83	expenditure.83	ADV
cblr-1719	268	9	in	in	ADP
cblr-1719	268	10	this	this	DET
cblr-1719	268	11	case	case	NOUN
cblr-1719	268	12	,	,	PUNCT
cblr-1719	268	13	it	it	PRON
cblr-1719	268	14	would	would	AUX
cblr-1719	268	15	be	be	AUX
cblr-1719	268	16	more	more	ADV
cblr-1719	268	17	efficient	efficient	ADJ
cblr-1719	268	18	to	to	PART
cblr-1719	268	19	allocate	allocate	VERB
cblr-1719	268	20	more	more	ADJ
cblr-1719	268	21	power	power	NOUN
cblr-1719	268	22	to	to	ADP
cblr-1719	268	23	the	the	DET
cblr-1719	268	24	entrepreneurs	entrepreneur	NOUN
cblr-1719	268	25	by	by	ADP
cblr-1719	268	26	granting	grant	VERB
cblr-1719	268	27	them	they	PRON
cblr-1719	268	28	leveraged	leveraged	ADJ
cblr-1719	268	29	control	control	NOUN
cblr-1719	268	30	through	through	ADP
cblr-1719	268	31	adopting	adopt	VERB
cblr-1719	268	32	a	a	DET
cblr-1719	268	33	dual	dual	ADJ
cblr-1719	268	34	-	-	PUNCT
cblr-1719	268	35	class	class	NOUN
cblr-1719	268	36	share	share	NOUN
cblr-1719	268	37	structure	structure	NOUN
cblr-1719	268	38	or	or	CCONJ
cblr-1719	268	39	other	other	ADJ
cblr-1719	268	40	control	control	NOUN
cblr-1719	268	41	-	-	PUNCT
cblr-1719	268	42	enhancing	enhance	VERB
cblr-1719	268	43	devices	device	NOUN
cblr-1719	268	44	.	.	PUNCT
cblr-1719	269	1	d.	d.	PROPN
cblr-1719	269	2	empirical	empirical	ADJ
cblr-1719	269	3	findings	finding	NOUN
cblr-1719	269	4	in	in	ADP
cblr-1719	269	5	the	the	DET
cblr-1719	269	6	face	face	NOUN
cblr-1719	269	7	of	of	ADP
cblr-1719	269	8	opposing	oppose	VERB
cblr-1719	269	9	theoretical	theoretical	ADJ
cblr-1719	269	10	claims	claim	NOUN
cblr-1719	269	11	and	and	CCONJ
cblr-1719	269	12	unsettled	unsettle	VERB
cblr-1719	269	13	regulatory	regulatory	ADJ
cblr-1719	269	14	approaches	approach	NOUN
cblr-1719	269	15	,	,	PUNCT
cblr-1719	269	16	existing	exist	VERB
cblr-1719	269	17	empirical	empirical	ADJ
cblr-1719	269	18	evidence	evidence	NOUN
cblr-1719	269	19	must	must	AUX
cblr-1719	269	20	be	be	AUX
cblr-1719	269	21	analyzed	analyze	VERB
cblr-1719	269	22	for	for	ADP
cblr-1719	269	23	further	further	ADJ
cblr-1719	269	24	guidance	guidance	NOUN
cblr-1719	269	25	.	.	PUNCT
cblr-1719	270	1	the	the	DET
cblr-1719	270	2	key	key	ADJ
cblr-1719	270	3	question	question	NOUN
cblr-1719	270	4	is	be	AUX
cblr-1719	270	5	whether	whether	SCONJ
cblr-1719	270	6	control	control	NOUN
cblr-1719	270	7	-	-	PUNCT
cblr-1719	270	8	enhancing	enhance	VERB
cblr-1719	270	9	mechanisms	mechanism	NOUN
cblr-1719	270	10	affect	affect	VERB
cblr-1719	270	11	shareholder	shareholder	NOUN
cblr-1719	270	12	value	value	NOUN
cblr-1719	270	13	.	.	PUNCT
cblr-1719	271	1	would	would	AUX
cblr-1719	271	2	leveraged	leverage	VERB
cblr-1719	271	3	control	control	NOUN
cblr-1719	271	4	create	create	VERB
cblr-1719	271	5	greater	great	ADJ
cblr-1719	271	6	agency	agency	NOUN
cblr-1719	271	7	costs	cost	NOUN
cblr-1719	271	8	of	of	ADP
cblr-1719	271	9	entrenchment	entrenchment	NOUN
cblr-1719	271	10	and	and	CCONJ
cblr-1719	271	11	thus	thus	ADV
cblr-1719	271	12	decrease	decrease	VERB
cblr-1719	271	13	outside	outside	ADP
cblr-1719	271	14	shareholders	shareholder	NOUN
cblr-1719	271	15	’	'	PUNCT
cblr-1719	271	16	value	value	NOUN
cblr-1719	271	17	(	(	PUNCT
cblr-1719	271	18	the	the	DET
cblr-1719	271	19	entrenchment	entrenchment	ADJ
cblr-1719	271	20	effect	effect	NOUN
cblr-1719	271	21	)	)	PUNCT
cblr-1719	271	22	?	?	PUNCT
cblr-1719	272	1	or	or	CCONJ
cblr-1719	272	2	would	would	AUX
cblr-1719	272	3	leveraged	leveraged	ADJ
cblr-1719	272	4	control	control	NOUN
cblr-1719	272	5	help	help	NOUN
cblr-1719	272	6	controlling	control	VERB
cblr-1719	272	7	shareholders	shareholder	NOUN
cblr-1719	272	8	better	well	ADV
cblr-1719	272	9	monitor	monitor	VERB
cblr-1719	272	10	the	the	DET
cblr-1719	272	11	firm	firm	NOUN
cblr-1719	272	12	and	and	CCONJ
cblr-1719	272	13	maximize	maximize	VERB
cblr-1719	272	14	its	its	PRON
cblr-1719	272	15	value	value	NOUN
cblr-1719	272	16	(	(	PUNCT
cblr-1719	272	17	the	the	DET
cblr-1719	272	18	incentive	incentive	NOUN
cblr-1719	272	19	effect	effect	NOUN
cblr-1719	272	20	)	)	PUNCT
cblr-1719	272	21	?	?	PUNCT
cblr-1719	273	1	under	under	ADP
cblr-1719	273	2	what	what	DET
cblr-1719	273	3	circumstances	circumstance	NOUN
cblr-1719	273	4	would	would	AUX
cblr-1719	273	5	the	the	DET
cblr-1719	273	6	benefits	benefit	NOUN
cblr-1719	273	7	of	of	ADP
cblr-1719	273	8	value	value	NOUN
cblr-1719	273	9	creation	creation	NOUN
cblr-1719	273	10	outweigh	outweigh	VERB
cblr-1719	273	11	the	the	DET
cblr-1719	273	12	costs	cost	NOUN
cblr-1719	273	13	of	of	ADP
cblr-1719	273	14	entrenchment	entrenchment	NOUN
cblr-1719	273	15	?	?	PUNCT
cblr-1719	274	1	for	for	ADP
cblr-1719	274	2	shareholder	shareholder	NOUN
cblr-1719	274	3	value	value	NOUN
cblr-1719	274	4	,	,	PUNCT
cblr-1719	274	5	it	it	PRON
cblr-1719	274	6	should	should	AUX
cblr-1719	274	7	be	be	AUX
cblr-1719	274	8	noted	note	VERB
cblr-1719	274	9	that	that	SCONJ
cblr-1719	274	10	the	the	DET
cblr-1719	274	11	value	value	NOUN
cblr-1719	274	12	of	of	ADP
cblr-1719	274	13	control	control	NOUN
cblr-1719	274	14	-	-	PUNCT
cblr-1719	274	15	enhancing	enhance	VERB
cblr-1719	274	16	mechanisms	mechanism	NOUN
cblr-1719	274	17	to	to	ADP
cblr-1719	274	18	outside	outside	ADJ
cblr-1719	274	19	shareholders	shareholder	NOUN
cblr-1719	274	20	is	be	AUX
cblr-1719	274	21	different	different	ADJ
cblr-1719	274	22	from	from	ADP
cblr-1719	274	23	the	the	DET
cblr-1719	274	24	value	value	NOUN
cblr-1719	274	25	to	to	ADP
cblr-1719	274	26	controlling	control	VERB
cblr-1719	274	27	shareholders	shareholder	NOUN
cblr-1719	274	28	.	.	PUNCT
cblr-1719	275	1	for	for	ADP
cblr-1719	275	2	example	example	NOUN
cblr-1719	275	3	,	,	PUNCT
cblr-1719	275	4	in	in	ADP
cblr-1719	275	5	a	a	DET
cblr-1719	275	6	firm	firm	NOUN
cblr-1719	275	7	with	with	ADP
cblr-1719	275	8	a	a	DET
cblr-1719	275	9	dual	dual	ADJ
cblr-1719	275	10	-	-	PUNCT
cblr-1719	275	11	class	class	NOUN
cblr-1719	275	12	share	share	NOUN
cblr-1719	275	13	structure	structure	NOUN
cblr-1719	275	14	,	,	PUNCT
cblr-1719	275	15	shares	share	NOUN
cblr-1719	275	16	that	that	PRON
cblr-1719	275	17	carry	carry	VERB
cblr-1719	275	18	more	more	ADJ
cblr-1719	275	19	votes	vote	NOUN
cblr-1719	275	20	should	should	AUX
cblr-1719	275	21	be	be	AUX
cblr-1719	275	22	worth	worth	ADJ
cblr-1719	275	23	more	more	ADJ
cblr-1719	275	24	than	than	ADP
cblr-1719	275	25	shares	share	NOUN
cblr-1719	275	26	that	that	PRON
cblr-1719	275	27	carry	carry	VERB
cblr-1719	275	28	only	only	ADV
cblr-1719	275	29	one	one	NUM
cblr-1719	275	30	vote	vote	NOUN
cblr-1719	275	31	.	.	PUNCT
cblr-1719	276	1	the	the	DET
cblr-1719	276	2	extra	extra	ADJ
cblr-1719	276	3	value	value	NOUN
cblr-1719	276	4	that	that	PRON
cblr-1719	276	5	the	the	DET
cblr-1719	276	6	market	market	NOUN
cblr-1719	276	7	awards	award	NOUN
cblr-1719	276	8	to	to	ADP
cblr-1719	276	9	these	these	DET
cblr-1719	276	10	multiple	multiple	ADJ
cblr-1719	276	11	vote	vote	NOUN
cblr-1719	276	12	shares	share	NOUN
cblr-1719	276	13	is	be	AUX
cblr-1719	276	14	called	call	VERB
cblr-1719	276	15	the	the	DET
cblr-1719	276	16	“	"	PUNCT
cblr-1719	276	17	control	control	NOUN
cblr-1719	276	18	premium	premium	NOUN
cblr-1719	276	19	.	.	PUNCT
cblr-1719	276	20	”	"	PUNCT
cblr-1719	277	1	however	however	ADV
cblr-1719	277	2	,	,	PUNCT
cblr-1719	277	3	multiple	multiple	ADJ
cblr-1719	277	4	vote	vote	NOUN
cblr-1719	277	5	shares	share	NOUN
cblr-1719	277	6	are	be	AUX
cblr-1719	277	7	usually	usually	ADV
cblr-1719	277	8	not	not	PART
cblr-1719	277	9	tradable	tradable	ADJ
cblr-1719	277	10	in	in	ADP
cblr-1719	277	11	the	the	DET
cblr-1719	277	12	market	market	NOUN
cblr-1719	277	13	.	.	PUNCT
cblr-1719	278	1	most	most	ADJ
cblr-1719	278	2	prior	prior	ADJ
cblr-1719	278	3	empirical	empirical	ADJ
cblr-1719	278	4	studies	study	NOUN
cblr-1719	278	5	use	use	VERB
cblr-1719	278	6	market	market	NOUN
cblr-1719	278	7	price	price	NOUN
cblr-1719	278	8	as	as	ADP
cblr-1719	278	9	a	a	DET
cblr-1719	278	10	proxy	proxy	NOUN
cblr-1719	278	11	for	for	ADP
cblr-1719	278	12	shareholder	shareholder	NOUN
cblr-1719	278	13	value	value	NOUN
cblr-1719	278	14	,	,	PUNCT
cblr-1719	278	15	which	which	PRON
cblr-1719	278	16	in	in	ADP
cblr-1719	278	17	fact	fact	NOUN
cblr-1719	278	18	only	only	ADV
cblr-1719	278	19	measures	measure	VERB
cblr-1719	278	20	the	the	DET
cblr-1719	278	21	value	value	NOUN
cblr-1719	278	22	of	of	ADP
cblr-1719	278	23	shares	share	NOUN
cblr-1719	278	24	to	to	ADP
cblr-1719	278	25	outside	outside	ADP
cblr-1719	278	26	shareholders.84	shareholders.84	NOUN
cblr-1719	278	27	consequently	consequently	ADV
cblr-1719	278	28	,	,	PUNCT
cblr-1719	278	29	the	the	DET
cblr-1719	278	30	value	value	NOUN
cblr-1719	278	31	of	of	ADP
cblr-1719	278	32	leveraged	leveraged	ADJ
cblr-1719	278	33	control	control	NOUN
cblr-1719	278	34	to	to	ADP
cblr-1719	278	35	a	a	DET
cblr-1719	278	36	controlling	control	VERB
cblr-1719	278	37	shareholder	shareholder	NOUN
cblr-1719	278	38	is	be	AUX
cblr-1719	278	39	very	very	ADV
cblr-1719	278	40	difficult	difficult	ADJ
cblr-1719	278	41	to	to	PART
cblr-1719	278	42	measure	measure	VERB
cblr-1719	278	43	empirically	empirically	ADV
cblr-1719	278	44	and	and	CCONJ
cblr-1719	278	45	typically	typically	ADV
cblr-1719	278	46	can	can	AUX
cblr-1719	278	47	only	only	ADV
cblr-1719	278	48	be	be	AUX
cblr-1719	278	49	assessed	assess	VERB
cblr-1719	278	50	in	in	ADP
cblr-1719	278	51	a	a	DET
cblr-1719	278	52	change	change	NOUN
cblr-1719	278	53	-	-	PUNCT
cblr-1719	278	54	of	of	ADP
cblr-1719	278	55	-	-	PUNCT
cblr-1719	278	56	control	control	NOUN
cblr-1719	278	57	transaction	transaction	NOUN
cblr-1719	278	58	.	.	PUNCT
cblr-1719	279	1	for	for	ADP
cblr-1719	279	2	the	the	DET
cblr-1719	279	3	purposes	purpose	NOUN
cblr-1719	279	4	of	of	ADP
cblr-1719	279	5	this	this	DET
cblr-1719	279	6	research	research	NOUN
cblr-1719	279	7	,	,	PUNCT
cblr-1719	279	8	we	we	PRON
cblr-1719	279	9	care	care	VERB
cblr-1719	279	10	more	more	ADJ
cblr-1719	279	11	about	about	ADP
cblr-1719	279	12	the	the	DET
cblr-1719	279	13	impact	impact	NOUN
cblr-1719	279	14	of	of	ADP
cblr-1719	279	15	the	the	DET
cblr-1719	279	16	control	control	NOUN
cblr-1719	279	17	-	-	PUNCT
cblr-1719	279	18	enhancing	enhance	VERB
cblr-1719	279	19	mechanism	mechanism	NOUN
cblr-1719	279	20	on	on	ADP
cblr-1719	279	21	the	the	DET
cblr-1719	279	22	share	share	NOUN
cblr-1719	279	23	value	value	NOUN
cblr-1719	279	24	of	of	ADP
cblr-1719	279	25	83	83	NUM
cblr-1719	279	26	alex	alex	PROPN
cblr-1719	279	27	edmans	edman	NOUN
cblr-1719	279	28	et	et	PROPN
cblr-1719	279	29	al	al	PROPN
cblr-1719	279	30	.	.	PROPN
cblr-1719	279	31	,	,	PUNCT
cblr-1719	279	32	the	the	DET
cblr-1719	279	33	real	real	ADJ
cblr-1719	279	34	costs	cost	NOUN
cblr-1719	279	35	of	of	ADP
cblr-1719	279	36	financial	financial	ADJ
cblr-1719	279	37	efficiency	efficiency	NOUN
cblr-1719	279	38	when	when	SCONJ
cblr-1719	279	39	some	some	DET
cblr-1719	279	40	information	information	NOUN
cblr-1719	279	41	is	be	AUX
cblr-1719	279	42	soft	soft	ADJ
cblr-1719	279	43	,	,	PUNCT
cblr-1719	279	44	20	20	NUM
cblr-1719	279	45	rev	rev	X
cblr-1719	279	46	.	.	PROPN
cblr-1719	279	47	fin	fin	NOUN
cblr-1719	279	48	.	.	PUNCT
cblr-1719	280	1	2151	2151	NUM
cblr-1719	280	2	,	,	PUNCT
cblr-1719	280	3	2153	2153	NUM
cblr-1719	280	4	(	(	PUNCT
cblr-1719	280	5	2016	2016	NUM
cblr-1719	280	6	)	)	PUNCT
cblr-1719	280	7	;	;	PUNCT
cblr-1719	280	8	cremers	cremer	NOUN
cblr-1719	280	9	&	&	CCONJ
cblr-1719	280	10	sepe	sepe	PROPN
cblr-1719	280	11	,	,	PUNCT
cblr-1719	280	12	supra	supra	PROPN
cblr-1719	280	13	note	note	PROPN
cblr-1719	280	14	80	80	NUM
cblr-1719	280	15	,	,	PUNCT
cblr-1719	280	16	at	at	ADP
cblr-1719	280	17	81	81	NUM
cblr-1719	280	18	.	.	PUNCT
cblr-1719	281	1	84	84	NUM
cblr-1719	281	2	renée	renée	PROPN
cblr-1719	281	3	adams	adams	PROPN
cblr-1719	281	4	&	&	CCONJ
cblr-1719	281	5	daniel	daniel	PROPN
cblr-1719	281	6	ferreira	ferreira	PROPN
cblr-1719	281	7	,	,	PUNCT
cblr-1719	281	8	one	one	NUM
cblr-1719	281	9	share	share	NOUN
cblr-1719	281	10	-	-	PUNCT
cblr-1719	281	11	one	one	NUM
cblr-1719	281	12	vote	vote	NOUN
cblr-1719	281	13	:	:	PUNCT
cblr-1719	281	14	the	the	DET
cblr-1719	281	15	empirical	empirical	ADJ
cblr-1719	281	16	evidence	evidence	NOUN
cblr-1719	281	17	,	,	PUNCT
cblr-1719	281	18	12	12	NUM
cblr-1719	281	19	rev	rev	X
cblr-1719	281	20	.	.	PROPN
cblr-1719	281	21	fin	fin	NOUN
cblr-1719	281	22	.	.	PUNCT
cblr-1719	281	23	51	51	NUM
cblr-1719	281	24	,	,	PUNCT
cblr-1719	281	25	62–63	62–63	NUM
cblr-1719	281	26	(	(	PUNCT
cblr-1719	281	27	2008	2008	NUM
cblr-1719	281	28	)	)	PUNCT
cblr-1719	281	29	.	.	PUNCT
cblr-1719	282	1	lin	lin	PROPN
cblr-1719	282	2	–	–	PUNCT
cblr-1719	282	3	final	final	ADJ
cblr-1719	282	4	476	476	NUM
cblr-1719	282	5	columbia	columbia	PROPN
cblr-1719	282	6	business	business	NOUN
cblr-1719	282	7	law	law	PROPN
cblr-1719	282	8	review	review	NOUN
cblr-1719	282	9	[	[	X
cblr-1719	282	10	vol	vol	NOUN
cblr-1719	282	11	.	.	NOUN
cblr-1719	282	12	2017	2017	NUM
cblr-1719	282	13	outside	outside	ADJ
cblr-1719	282	14	shareholdings	shareholding	NOUN
cblr-1719	282	15	.	.	PUNCT
cblr-1719	283	1	therefore	therefore	ADV
cblr-1719	283	2	,	,	PUNCT
cblr-1719	283	3	in	in	ADP
cblr-1719	283	4	this	this	DET
cblr-1719	283	5	section	section	NOUN
cblr-1719	283	6	we	we	PRON
cblr-1719	283	7	review	review	VERB
cblr-1719	283	8	empirical	empirical	ADJ
cblr-1719	283	9	studies	study	NOUN
cblr-1719	283	10	that	that	PRON
cblr-1719	283	11	address	address	VERB
cblr-1719	283	12	this	this	DET
cblr-1719	283	13	issue	issue	NOUN
cblr-1719	283	14	.	.	PUNCT
cblr-1719	284	1	most	most	ADJ
cblr-1719	284	2	earlier	early	ADJ
cblr-1719	284	3	studies	study	NOUN
cblr-1719	284	4	use	use	VERB
cblr-1719	284	5	the	the	DET
cblr-1719	284	6	wedge	wedge	NOUN
cblr-1719	284	7	between	between	ADP
cblr-1719	284	8	the	the	DET
cblr-1719	284	9	economic	economic	ADJ
cblr-1719	284	10	rights	right	NOUN
cblr-1719	284	11	and	and	CCONJ
cblr-1719	284	12	the	the	DET
cblr-1719	284	13	control	control	NOUN
cblr-1719	284	14	rights	right	NOUN
cblr-1719	284	15	of	of	ADP
cblr-1719	284	16	shareholders	shareholder	NOUN
cblr-1719	284	17	to	to	PART
cblr-1719	284	18	measure	measure	VERB
cblr-1719	284	19	the	the	DET
cblr-1719	284	20	level	level	NOUN
cblr-1719	284	21	of	of	ADP
cblr-1719	284	22	deviation	deviation	NOUN
cblr-1719	284	23	and	and	CCONJ
cblr-1719	284	24	examine	examine	VERB
cblr-1719	284	25	the	the	DET
cblr-1719	284	26	impact	impact	NOUN
cblr-1719	284	27	of	of	ADP
cblr-1719	284	28	such	such	ADJ
cblr-1719	284	29	deviation	deviation	NOUN
cblr-1719	284	30	on	on	ADP
cblr-1719	284	31	shareholder	shareholder	NOUN
cblr-1719	284	32	value	value	NOUN
cblr-1719	284	33	without	without	ADP
cblr-1719	284	34	differentiating	differentiate	VERB
cblr-1719	284	35	between	between	ADP
cblr-1719	284	36	the	the	DET
cblr-1719	284	37	types	type	NOUN
cblr-1719	284	38	of	of	ADP
cblr-1719	284	39	mechanisms	mechanism	NOUN
cblr-1719	284	40	that	that	PRON
cblr-1719	284	41	have	have	AUX
cblr-1719	284	42	caused	cause	VERB
cblr-1719	284	43	the	the	DET
cblr-1719	284	44	wedge	wedge	NOUN
cblr-1719	284	45	.	.	PUNCT
cblr-1719	285	1	using	use	VERB
cblr-1719	285	2	cross	cross	ADJ
cblr-1719	285	3	-	-	ADJ
cblr-1719	285	4	country	country	ADJ
cblr-1719	285	5	data	datum	NOUN
cblr-1719	285	6	,	,	PUNCT
cblr-1719	285	7	both	both	CCONJ
cblr-1719	285	8	la	la	DET
cblr-1719	285	9	porta	porta	NOUN
cblr-1719	285	10	et	et	PROPN
cblr-1719	285	11	al	al	PROPN
cblr-1719	285	12	.	.	PROPN
cblr-1719	286	1	and	and	CCONJ
cblr-1719	286	2	claessens	claessen	VERB
cblr-1719	286	3	et	et	PROPN
cblr-1719	286	4	al	al	PROPN
cblr-1719	286	5	.	.	PROPN
cblr-1719	286	6	find	find	VERB
cblr-1719	286	7	that	that	SCONJ
cblr-1719	286	8	the	the	DET
cblr-1719	286	9	cash	cash	NOUN
cblr-1719	286	10	-	-	PUNCT
cblr-1719	286	11	flow	flow	NOUN
cblr-1719	286	12	rights	right	NOUN
cblr-1719	286	13	of	of	ADP
cblr-1719	286	14	controlling	control	VERB
cblr-1719	286	15	shareholders	shareholder	NOUN
cblr-1719	286	16	are	be	AUX
cblr-1719	286	17	positively	positively	ADV
cblr-1719	286	18	correlated	correlate	VERB
cblr-1719	286	19	with	with	ADP
cblr-1719	286	20	shareholder	shareholder	NOUN
cblr-1719	286	21	value	value	NOUN
cblr-1719	286	22	,	,	PUNCT
cblr-1719	286	23	which	which	PRON
cblr-1719	286	24	is	be	AUX
cblr-1719	286	25	consistent	consistent	ADJ
cblr-1719	286	26	with	with	ADP
cblr-1719	286	27	the	the	DET
cblr-1719	286	28	incentive	incentive	NOUN
cblr-1719	286	29	effect	effect	NOUN
cblr-1719	286	30	of	of	ADP
cblr-1719	286	31	cash	cash	NOUN
cblr-1719	286	32	-	-	PUNCT
cblr-1719	286	33	flow	flow	NOUN
cblr-1719	286	34	ownership	ownership	NOUN
cblr-1719	286	35	under	under	ADP
cblr-1719	286	36	agency	agency	NOUN
cblr-1719	286	37	theory.85	theory.85	NOUN
cblr-1719	286	38	with	with	ADP
cblr-1719	286	39	regard	regard	NOUN
cblr-1719	286	40	to	to	ADP
cblr-1719	286	41	the	the	DET
cblr-1719	286	42	effect	effect	NOUN
cblr-1719	286	43	of	of	ADP
cblr-1719	286	44	the	the	DET
cblr-1719	286	45	wedge	wedge	NOUN
cblr-1719	286	46	on	on	ADP
cblr-1719	286	47	firm	firm	ADJ
cblr-1719	286	48	value	value	NOUN
cblr-1719	286	49	,	,	PUNCT
cblr-1719	286	50	the	the	DET
cblr-1719	286	51	results	result	NOUN
cblr-1719	286	52	are	be	AUX
cblr-1719	286	53	somewhat	somewhat	ADV
cblr-1719	286	54	mixed	mixed	ADJ
cblr-1719	286	55	.	.	PUNCT
cblr-1719	287	1	most	most	ADJ
cblr-1719	287	2	studies	study	NOUN
cblr-1719	287	3	find	find	VERB
cblr-1719	287	4	the	the	DET
cblr-1719	287	5	wedge	wedge	NOUN
cblr-1719	287	6	correlates	correlate	VERB
cblr-1719	287	7	with	with	ADP
cblr-1719	287	8	lower	low	ADJ
cblr-1719	287	9	firm	firm	ADJ
cblr-1719	287	10	value	value	NOUN
cblr-1719	287	11	,	,	PUNCT
cblr-1719	287	12	supporting	support	VERB
cblr-1719	287	13	the	the	DET
cblr-1719	287	14	entrenchment	entrenchment	ADJ
cblr-1719	287	15	effect	effect	NOUN
cblr-1719	287	16	hypothesis	hypothesis	NOUN
cblr-1719	287	17	.	.	PUNCT
cblr-1719	288	1	claessens	claessen	NOUN
cblr-1719	288	2	et	et	PROPN
cblr-1719	288	3	al	al	PROPN
cblr-1719	288	4	.	.	PROPN
cblr-1719	288	5	’s	’s	PART
cblr-1719	288	6	study	study	NOUN
cblr-1719	288	7	of	of	ADP
cblr-1719	288	8	firms	firm	NOUN
cblr-1719	288	9	in	in	ADP
cblr-1719	288	10	eight	eight	NUM
cblr-1719	288	11	east	east	ADJ
cblr-1719	288	12	asian	asian	ADJ
cblr-1719	288	13	economies	economy	NOUN
cblr-1719	288	14	found	find	VERB
cblr-1719	288	15	that	that	SCONJ
cblr-1719	288	16	the	the	DET
cblr-1719	288	17	wedge	wedge	NOUN
cblr-1719	288	18	correlates	correlate	VERB
cblr-1719	288	19	with	with	ADP
cblr-1719	288	20	lower	low	ADJ
cblr-1719	288	21	firm	firm	ADJ
cblr-1719	288	22	value	value	NOUN
cblr-1719	288	23	.	.	PUNCT
cblr-1719	289	1	however	however	ADV
cblr-1719	289	2	,	,	PUNCT
cblr-1719	289	3	they	they	PRON
cblr-1719	289	4	did	do	AUX
cblr-1719	289	5	not	not	PART
cblr-1719	289	6	uncover	uncover	VERB
cblr-1719	289	7	whether	whether	SCONJ
cblr-1719	289	8	any	any	DET
cblr-1719	289	9	specific	specific	ADJ
cblr-1719	289	10	type	type	NOUN
cblr-1719	289	11	of	of	ADP
cblr-1719	289	12	mechanism	mechanism	NOUN
cblr-1719	289	13	,	,	PUNCT
cblr-1719	289	14	i.e.	i.e.	X
cblr-1719	289	15	,	,	PUNCT
cblr-1719	289	16	pyramids	pyramid	NOUN
cblr-1719	289	17	,	,	PUNCT
cblr-1719	289	18	cross	cross	NOUN
cblr-1719	289	19	-	-	ADJ
cblr-1719	289	20	shareholding	shareholding	ADJ
cblr-1719	289	21	,	,	PUNCT
cblr-1719	289	22	or	or	CCONJ
cblr-1719	289	23	dual	dual	ADJ
cblr-1719	289	24	-	-	PUNCT
cblr-1719	289	25	class	class	NOUN
cblr-1719	289	26	shares	share	NOUN
cblr-1719	289	27	,	,	PUNCT
cblr-1719	289	28	drives	drive	VERB
cblr-1719	289	29	the	the	DET
cblr-1719	289	30	value	value	NOUN
cblr-1719	289	31	discount.86	discount.86	NOUN
cblr-1719	289	32	lins	lin	NOUN
cblr-1719	289	33	found	find	VERB
cblr-1719	289	34	similar	similar	ADJ
cblr-1719	289	35	evidence	evidence	NOUN
cblr-1719	289	36	on	on	ADP
cblr-1719	289	37	the	the	DET
cblr-1719	289	38	negative	negative	ADJ
cblr-1719	289	39	impact	impact	NOUN
cblr-1719	289	40	of	of	ADP
cblr-1719	289	41	the	the	DET
cblr-1719	289	42	wedge	wedge	NOUN
cblr-1719	289	43	created	create	VERB
cblr-1719	289	44	by	by	ADP
cblr-1719	289	45	disproportionate	disproportionate	ADJ
cblr-1719	289	46	mechanisms	mechanism	NOUN
cblr-1719	289	47	on	on	ADP
cblr-1719	289	48	firm	firm	ADJ
cblr-1719	289	49	value	value	NOUN
cblr-1719	289	50	in	in	ADP
cblr-1719	289	51	1433	1433	NUM
cblr-1719	289	52	sample	sample	NOUN
cblr-1719	289	53	firms	firm	NOUN
cblr-1719	289	54	from	from	ADP
cblr-1719	289	55	18	18	NUM
cblr-1719	289	56	emerging	emerge	VERB
cblr-1719	289	57	economies.87	economies.87	NOUN
cblr-1719	289	58	in	in	ADP
cblr-1719	289	59	contrast	contrast	NOUN
cblr-1719	289	60	,	,	PUNCT
cblr-1719	289	61	based	base	VERB
cblr-1719	289	62	on	on	ADP
cblr-1719	289	63	a	a	DET
cblr-1719	289	64	sample	sample	NOUN
cblr-1719	289	65	of	of	ADP
cblr-1719	289	66	large	large	ADJ
cblr-1719	289	67	firms	firm	NOUN
cblr-1719	289	68	in	in	ADP
cblr-1719	289	69	27	27	NUM
cblr-1719	289	70	wealthy	wealthy	ADJ
cblr-1719	289	71	economies	economy	NOUN
cblr-1719	289	72	,	,	PUNCT
cblr-1719	290	1	la	la	X
cblr-1719	290	2	porta	porta	NOUN
cblr-1719	290	3	et	et	PROPN
cblr-1719	290	4	al	al	PROPN
cblr-1719	290	5	.	.	PROPN
cblr-1719	290	6	did	do	AUX
cblr-1719	290	7	not	not	PART
cblr-1719	290	8	find	find	VERB
cblr-1719	290	9	a	a	DET
cblr-1719	290	10	significant	significant	ADJ
cblr-1719	290	11	correlation	correlation	NOUN
cblr-1719	290	12	between	between	ADP
cblr-1719	290	13	the	the	DET
cblr-1719	290	14	wedge	wedge	NOUN
cblr-1719	290	15	and	and	CCONJ
cblr-1719	290	16	firm	firm	ADJ
cblr-1719	290	17	value	value	NOUN
cblr-1719	290	18	,	,	PUNCT
cblr-1719	290	19	but	but	CCONJ
cblr-1719	290	20	they	they	PRON
cblr-1719	290	21	support	support	VERB
cblr-1719	290	22	the	the	DET
cblr-1719	290	23	notion	notion	NOUN
cblr-1719	290	24	that	that	SCONJ
cblr-1719	290	25	country	country	NOUN
cblr-1719	290	26	-	-	PUNCT
cblr-1719	290	27	level	level	NOUN
cblr-1719	290	28	investor	investor	NOUN
cblr-1719	290	29	protection	protection	NOUN
cblr-1719	290	30	increases	increase	VERB
cblr-1719	290	31	firm	firm	ADJ
cblr-1719	290	32	value.88	value.88	PROPN
cblr-1719	290	33	other	other	ADJ
cblr-1719	290	34	studies	study	NOUN
cblr-1719	290	35	on	on	ADP
cblr-1719	290	36	european	european	ADJ
cblr-1719	290	37	countries	country	NOUN
cblr-1719	290	38	fail	fail	VERB
cblr-1719	290	39	to	to	PART
cblr-1719	290	40	support	support	VERB
cblr-1719	290	41	the	the	DET
cblr-1719	290	42	incentive	incentive	NOUN
cblr-1719	290	43	effect	effect	NOUN
cblr-1719	290	44	and	and	CCONJ
cblr-1719	290	45	find	find	VERB
cblr-1719	290	46	limited	limited	ADJ
cblr-1719	290	47	evidence	evidence	NOUN
cblr-1719	290	48	on	on	ADP
cblr-1719	290	49	the	the	DET
cblr-1719	290	50	entrenchment	entrenchment	ADJ
cblr-1719	290	51	effect	effect	NOUN
cblr-1719	290	52	.	.	PUNCT
cblr-1719	291	1	cronqvist	cronqvist	PROPN
cblr-1719	291	2	and	and	CCONJ
cblr-1719	291	3	nilsson	nilsson	PROPN
cblr-1719	291	4	analyzed	analyze	VERB
cblr-1719	291	5	a	a	DET
cblr-1719	291	6	sample	sample	NOUN
cblr-1719	291	7	of	of	ADP
cblr-1719	291	8	309	309	NUM
cblr-1719	291	9	swedish	swedish	ADJ
cblr-1719	291	10	firms	firm	NOUN
cblr-1719	291	11	and	and	CCONJ
cblr-1719	291	12	found	find	VERB
cblr-1719	291	13	that	that	SCONJ
cblr-1719	291	14	the	the	DET
cblr-1719	291	15	voting	voting	NOUN
cblr-1719	291	16	power	power	NOUN
cblr-1719	291	17	85	85	NUM
cblr-1719	291	18	rafael	rafael	PROPN
cblr-1719	291	19	la	la	PROPN
cblr-1719	291	20	porta	porta	PROPN
cblr-1719	291	21	et	et	PROPN
cblr-1719	291	22	al	al	PROPN
cblr-1719	291	23	.	.	PROPN
cblr-1719	291	24	,	,	PUNCT
cblr-1719	291	25	investor	investor	NOUN
cblr-1719	291	26	protection	protection	NOUN
cblr-1719	291	27	and	and	CCONJ
cblr-1719	291	28	corporate	corporate	ADJ
cblr-1719	291	29	valuation	valuation	NOUN
cblr-1719	291	30	,	,	PUNCT
cblr-1719	291	31	57	57	NUM
cblr-1719	291	32	j.	j.	PROPN
cblr-1719	291	33	fin	fin	PROPN
cblr-1719	291	34	.	.	PUNCT
cblr-1719	291	35	1147	1147	NUM
cblr-1719	291	36	,	,	PUNCT
cblr-1719	291	37	1147–49	1147–49	NUM
cblr-1719	291	38	(	(	PUNCT
cblr-1719	291	39	2002	2002	NUM
cblr-1719	291	40	)	)	PUNCT
cblr-1719	291	41	;	;	PUNCT
cblr-1719	291	42	stijn	stijn	PROPN
cblr-1719	291	43	claessens	claessen	VERB
cblr-1719	291	44	et	et	PROPN
cblr-1719	291	45	al	al	PROPN
cblr-1719	291	46	.	.	PROPN
cblr-1719	291	47	,	,	PUNCT
cblr-1719	291	48	disentangling	disentangle	VERB
cblr-1719	291	49	the	the	DET
cblr-1719	291	50	incentive	incentive	NOUN
cblr-1719	291	51	and	and	CCONJ
cblr-1719	291	52	entrenchment	entrenchment	ADJ
cblr-1719	291	53	effects	effect	NOUN
cblr-1719	291	54	of	of	ADP
cblr-1719	291	55	large	large	ADJ
cblr-1719	291	56	shareholdings	shareholding	NOUN
cblr-1719	291	57	,	,	PUNCT
cblr-1719	291	58	57	57	NUM
cblr-1719	291	59	j.	j.	PROPN
cblr-1719	291	60	fin	fin	PROPN
cblr-1719	291	61	.	.	PUNCT
cblr-1719	292	1	2741	2741	NUM
cblr-1719	292	2	,	,	PUNCT
cblr-1719	292	3	2758	2758	NUM
cblr-1719	292	4	(	(	PUNCT
cblr-1719	292	5	2002	2002	NUM
cblr-1719	292	6	)	)	PUNCT
cblr-1719	292	7	.	.	PUNCT
cblr-1719	293	1	86	86	NUM
cblr-1719	293	2	claessens	claessen	NOUN
cblr-1719	293	3	et	et	PROPN
cblr-1719	293	4	al	al	PROPN
cblr-1719	293	5	.	.	PROPN
cblr-1719	293	6	,	,	PUNCT
cblr-1719	293	7	supra	supra	PROPN
cblr-1719	293	8	note	note	PROPN
cblr-1719	293	9	86	86	NUM
cblr-1719	293	10	,	,	PUNCT
cblr-1719	293	11	at	at	ADP
cblr-1719	293	12	2756–58	2756–58	ADJ
cblr-1719	293	13	,	,	PUNCT
cblr-1719	293	14	2768	2768	NUM
cblr-1719	293	15	.	.	PUNCT
cblr-1719	294	1	87	87	NUM
cblr-1719	294	2	karl	karl	PROPN
cblr-1719	294	3	v.	v.	PROPN
cblr-1719	294	4	lins	lins	PROPN
cblr-1719	294	5	,	,	PUNCT
cblr-1719	294	6	equity	equity	NOUN
cblr-1719	294	7	ownership	ownership	NOUN
cblr-1719	294	8	and	and	CCONJ
cblr-1719	294	9	firm	firm	ADJ
cblr-1719	294	10	value	value	NOUN
cblr-1719	294	11	in	in	ADP
cblr-1719	294	12	emerging	emerge	VERB
cblr-1719	294	13	markets	market	NOUN
cblr-1719	294	14	,	,	PUNCT
cblr-1719	294	15	38	38	NUM
cblr-1719	294	16	j.	j.	PROPN
cblr-1719	294	17	fin	fin	PROPN
cblr-1719	294	18	.	.	PROPN
cblr-1719	294	19	&	&	CCONJ
cblr-1719	294	20	quan	quan	PROPN
cblr-1719	294	21	.	.	PUNCT
cblr-1719	295	1	analysis	analysis	NOUN
cblr-1719	295	2	159	159	NUM
cblr-1719	295	3	,	,	PUNCT
cblr-1719	295	4	181	181	NUM
cblr-1719	295	5	(	(	PUNCT
cblr-1719	295	6	2003	2003	NUM
cblr-1719	295	7	)	)	PUNCT
cblr-1719	295	8	.	.	PUNCT
cblr-1719	296	1	88	88	NUM
cblr-1719	296	2	la	la	ADJ
cblr-1719	296	3	porta	porta	NOUN
cblr-1719	296	4	et	et	PROPN
cblr-1719	296	5	al	al	PROPN
cblr-1719	296	6	.	.	PROPN
cblr-1719	296	7	,	,	PUNCT
cblr-1719	296	8	supra	supra	PROPN
cblr-1719	296	9	note	note	PROPN
cblr-1719	296	10	85	85	NUM
cblr-1719	296	11	,	,	PUNCT
cblr-1719	296	12	at	at	ADP
cblr-1719	296	13	1162–64	1162–64	NUM
cblr-1719	296	14	,	,	PUNCT
cblr-1719	296	15	1163	1163	NUM
cblr-1719	296	16	n.11	n.11	SYM
cblr-1719	296	17	.	.	PUNCT
cblr-1719	296	18	lin	lin	PROPN
cblr-1719	296	19	–	–	PUNCT
cblr-1719	296	20	final	final	ADJ
cblr-1719	296	21	no	no	NOUN
cblr-1719	296	22	.	.	PUNCT
cblr-1719	297	1	2:453	2:453	NUM
cblr-1719	297	2	]	]	X
cblr-1719	297	3	controlling	control	VERB
cblr-1719	297	4	-	-	PUNCT
cblr-1719	297	5	minority	minority	NOUN
cblr-1719	297	6	shareholders	shareholder	NOUN
cblr-1719	297	7	477	477	NUM
cblr-1719	297	8	of	of	ADP
cblr-1719	297	9	controlling	control	VERB
cblr-1719	297	10	shareholders	shareholder	NOUN
cblr-1719	297	11	is	be	AUX
cblr-1719	297	12	negatively	negatively	ADV
cblr-1719	297	13	correlated	correlate	VERB
cblr-1719	297	14	with	with	ADP
cblr-1719	297	15	firm	firm	ADJ
cblr-1719	297	16	value	value	NOUN
cblr-1719	297	17	.	.	PUNCT
cblr-1719	298	1	they	they	PRON
cblr-1719	298	2	did	do	AUX
cblr-1719	298	3	not	not	PART
cblr-1719	298	4	find	find	VERB
cblr-1719	298	5	a	a	DET
cblr-1719	298	6	significant	significant	ADJ
cblr-1719	298	7	correlation	correlation	NOUN
cblr-1719	298	8	between	between	ADP
cblr-1719	298	9	cash	cash	NOUN
cblr-1719	298	10	-	-	PUNCT
cblr-1719	298	11	flow	flow	NOUN
cblr-1719	298	12	rights	right	NOUN
cblr-1719	298	13	and	and	CCONJ
cblr-1719	298	14	the	the	DET
cblr-1719	298	15	wedge	wedge	NOUN
cblr-1719	298	16	,	,	PUNCT
cblr-1719	298	17	but	but	CCONJ
cblr-1719	298	18	relate	relate	VERB
cblr-1719	298	19	family	family	NOUN
cblr-1719	298	20	ownership	ownership	NOUN
cblr-1719	298	21	to	to	ADP
cblr-1719	298	22	negative	negative	ADJ
cblr-1719	298	23	firm	firm	ADJ
cblr-1719	298	24	value.89	value.89	NOUN
cblr-1719	298	25	maury	maury	PROPN
cblr-1719	298	26	and	and	CCONJ
cblr-1719	298	27	pajuste	pajuste	NOUN
cblr-1719	298	28	studied	study	VERB
cblr-1719	298	29	finnish	finnish	ADJ
cblr-1719	298	30	firms	firm	NOUN
cblr-1719	298	31	and	and	CCONJ
cblr-1719	298	32	used	use	VERB
cblr-1719	298	33	the	the	DET
cblr-1719	298	34	control	control	NOUN
cblr-1719	298	35	-	-	PUNCT
cblr-1719	298	36	to	to	ADP
cblr-1719	298	37	-	-	PUNCT
cblr-1719	298	38	ownership	ownership	NOUN
cblr-1719	298	39	ratio	ratio	NOUN
cblr-1719	298	40	as	as	ADP
cblr-1719	298	41	a	a	DET
cblr-1719	298	42	proxy	proxy	NOUN
cblr-1719	298	43	for	for	ADP
cblr-1719	298	44	the	the	DET
cblr-1719	298	45	entrenchment	entrenchment	ADJ
cblr-1719	298	46	effect	effect	NOUN
cblr-1719	298	47	.	.	PUNCT
cblr-1719	299	1	they	they	PRON
cblr-1719	299	2	found	find	VERB
cblr-1719	299	3	a	a	DET
cblr-1719	299	4	negative	negative	ADJ
cblr-1719	299	5	impact	impact	NOUN
cblr-1719	299	6	of	of	ADP
cblr-1719	299	7	vote	vote	NOUN
cblr-1719	299	8	concentration	concentration	NOUN
cblr-1719	299	9	on	on	ADP
cblr-1719	299	10	firm	firm	ADJ
cblr-1719	299	11	value	value	NOUN
cblr-1719	299	12	(	(	PUNCT
cblr-1719	299	13	which	which	PRON
cblr-1719	299	14	supports	support	VERB
cblr-1719	299	15	the	the	DET
cblr-1719	299	16	entrenchment	entrenchment	ADJ
cblr-1719	299	17	effect	effect	NOUN
cblr-1719	299	18	)	)	PUNCT
cblr-1719	299	19	,	,	PUNCT
cblr-1719	299	20	but	but	CCONJ
cblr-1719	299	21	they	they	PRON
cblr-1719	299	22	did	do	AUX
cblr-1719	299	23	not	not	PART
cblr-1719	299	24	find	find	VERB
cblr-1719	299	25	evidence	evidence	NOUN
cblr-1719	299	26	for	for	ADP
cblr-1719	299	27	the	the	DET
cblr-1719	299	28	incentive	incentive	NOUN
cblr-1719	299	29	effect	effect	NOUN
cblr-1719	299	30	of	of	ADP
cblr-1719	299	31	cash	cash	NOUN
cblr-1719	299	32	-	-	PUNCT
cblr-1719	299	33	flow	flow	NOUN
cblr-1719	299	34	ownership.90	ownership.90	NOUN
cblr-1719	299	35	apart	apart	ADV
cblr-1719	299	36	from	from	ADP
cblr-1719	299	37	large	large	ADJ
cblr-1719	299	38	-	-	PUNCT
cblr-1719	299	39	scale	scale	NOUN
cblr-1719	299	40	cross	cross	ADJ
cblr-1719	299	41	-	-	ADJ
cblr-1719	299	42	country	country	NOUN
cblr-1719	299	43	analyses	analysis	NOUN
cblr-1719	299	44	,	,	PUNCT
cblr-1719	299	45	studies	study	NOUN
cblr-1719	299	46	on	on	ADP
cblr-1719	299	47	u.s	u.s	PROPN
cblr-1719	299	48	.	.	PROPN
cblr-1719	299	49	public	public	ADJ
cblr-1719	299	50	firms	firm	NOUN
cblr-1719	299	51	mainly	mainly	ADV
cblr-1719	299	52	focus	focus	VERB
cblr-1719	299	53	on	on	ADP
cblr-1719	299	54	one	one	NUM
cblr-1719	299	55	mechanism	mechanism	NOUN
cblr-1719	299	56	—	—	PUNCT
cblr-1719	299	57	dual	dual	ADJ
cblr-1719	299	58	-	-	PUNCT
cblr-1719	299	59	class	class	NOUN
cblr-1719	299	60	shares.91	shares.91	NOUN
cblr-1719	299	61	the	the	DET
cblr-1719	299	62	seminal	seminal	ADJ
cblr-1719	299	63	paper	paper	NOUN
cblr-1719	299	64	written	write	VERB
cblr-1719	299	65	by	by	ADP
cblr-1719	299	66	gompers	gomper	NOUN
cblr-1719	299	67	et	et	PROPN
cblr-1719	299	68	al	al	PROPN
cblr-1719	299	69	.	.	PROPN
cblr-1719	299	70	tried	try	VERB
cblr-1719	299	71	to	to	PART
cblr-1719	299	72	disentangle	disentangle	VERB
cblr-1719	299	73	the	the	DET
cblr-1719	299	74	incentive	incentive	NOUN
cblr-1719	299	75	and	and	CCONJ
cblr-1719	299	76	entrenchment	entrenchment	ADJ
cblr-1719	299	77	effects	effect	NOUN
cblr-1719	299	78	by	by	ADP
cblr-1719	299	79	examining	examine	VERB
cblr-1719	299	80	u.s	u.s	PROPN
cblr-1719	299	81	.	.	PROPN
cblr-1719	299	82	public	public	ADJ
cblr-1719	299	83	firms	firm	NOUN
cblr-1719	299	84	with	with	ADP
cblr-1719	299	85	dual	dual	ADJ
cblr-1719	299	86	-	-	PUNCT
cblr-1719	299	87	class	class	NOUN
cblr-1719	299	88	share	share	NOUN
cblr-1719	299	89	structures.92	structures.92	NOUN
cblr-1719	299	90	they	they	PRON
cblr-1719	299	91	found	find	VERB
cblr-1719	299	92	that	that	SCONJ
cblr-1719	299	93	firm	firm	ADJ
cblr-1719	299	94	value	value	NOUN
cblr-1719	299	95	increases	increase	VERB
cblr-1719	299	96	alongside	alongside	ADP
cblr-1719	299	97	an	an	DET
cblr-1719	299	98	increase	increase	NOUN
cblr-1719	299	99	in	in	ADP
cblr-1719	299	100	insider	insider	NOUN
cblr-1719	299	101	cash	cash	NOUN
cblr-1719	299	102	flow	flow	NOUN
cblr-1719	299	103	rights	right	NOUN
cblr-1719	299	104	and	and	CCONJ
cblr-1719	299	105	decreases	decrease	NOUN
cblr-1719	299	106	with	with	ADP
cblr-1719	299	107	the	the	DET
cblr-1719	299	108	increase	increase	NOUN
cblr-1719	299	109	in	in	ADP
cblr-1719	299	110	insider	insider	NOUN
cblr-1719	299	111	voting	voting	NOUN
cblr-1719	299	112	rights	right	NOUN
cblr-1719	299	113	.	.	PUNCT
cblr-1719	300	1	they	they	PRON
cblr-1719	300	2	also	also	ADV
cblr-1719	300	3	found	find	VERB
cblr-1719	300	4	firm	firm	ADJ
cblr-1719	300	5	value	value	NOUN
cblr-1719	300	6	to	to	PART
cblr-1719	300	7	be	be	AUX
cblr-1719	300	8	negatively	negatively	ADV
cblr-1719	300	9	correlated	correlate	VERB
cblr-1719	300	10	with	with	ADP
cblr-1719	300	11	the	the	DET
cblr-1719	300	12	wedge	wedge	NOUN
cblr-1719	300	13	between	between	ADP
cblr-1719	300	14	cash	cash	NOUN
cblr-1719	300	15	flow	flow	NOUN
cblr-1719	300	16	rights	right	NOUN
cblr-1719	300	17	and	and	CCONJ
cblr-1719	300	18	voting	voting	NOUN
cblr-1719	300	19	rights	right	NOUN
cblr-1719	300	20	,	,	PUNCT
cblr-1719	300	21	suggesting	suggest	VERB
cblr-1719	300	22	a	a	DET
cblr-1719	300	23	negative	negative	ADJ
cblr-1719	300	24	impact	impact	NOUN
cblr-1719	300	25	of	of	ADP
cblr-1719	300	26	the	the	DET
cblr-1719	300	27	dual	dual	ADJ
cblr-1719	300	28	-	-	PUNCT
cblr-1719	300	29	class	class	NOUN
cblr-1719	300	30	share	share	NOUN
cblr-1719	300	31	structure	structure	NOUN
cblr-1719	300	32	on	on	ADP
cblr-1719	300	33	shareholder	shareholder	NOUN
cblr-1719	300	34	value.93	value.93	NOUN
cblr-1719	300	35	since	since	SCONJ
cblr-1719	300	36	control	control	NOUN
cblr-1719	300	37	-	-	PUNCT
cblr-1719	300	38	enhancing	enhance	VERB
cblr-1719	300	39	mechanisms	mechanism	NOUN
cblr-1719	300	40	are	be	AUX
cblr-1719	300	41	chosen	choose	VERB
cblr-1719	300	42	by	by	ADP
cblr-1719	300	43	the	the	DET
cblr-1719	300	44	firm	firm	NOUN
cblr-1719	300	45	,	,	PUNCT
cblr-1719	300	46	they	they	PRON
cblr-1719	300	47	are	be	AUX
cblr-1719	300	48	inherently	inherently	ADV
cblr-1719	300	49	endogenous	endogenous	ADJ
cblr-1719	300	50	.	.	PUNCT
cblr-1719	301	1	hence	hence	ADV
cblr-1719	301	2	,	,	PUNCT
cblr-1719	301	3	these	these	DET
cblr-1719	301	4	studies	study	NOUN
cblr-1719	301	5	are	be	AUX
cblr-1719	301	6	subject	subject	ADJ
cblr-1719	301	7	to	to	ADP
cblr-1719	301	8	the	the	DET
cblr-1719	301	9	endogeneity	endogeneity	NOUN
cblr-1719	301	10	problem	problem	NOUN
cblr-1719	301	11	and	and	CCONJ
cblr-1719	301	12	require	require	VERB
cblr-1719	301	13	a	a	DET
cblr-1719	301	14	cautious	cautious	ADJ
cblr-1719	301	15	interpretation	interpretation	NOUN
cblr-1719	301	16	of	of	ADP
cblr-1719	301	17	their	their	PRON
cblr-1719	301	18	results	result	NOUN
cblr-1719	301	19	.	.	PUNCT
cblr-1719	302	1	94	94	NUM
cblr-1719	302	2	gompers	gomper	NOUN
cblr-1719	302	3	et	et	PROPN
cblr-1719	302	4	al	al	PROPN
cblr-1719	302	5	.	.	PROPN
cblr-1719	302	6	attempted	attempt	VERB
cblr-1719	302	7	to	to	PART
cblr-1719	302	8	address	address	VERB
cblr-1719	302	9	the	the	DET
cblr-1719	302	10	endogeneity	endogeneity	NOUN
cblr-1719	302	11	problem	problem	NOUN
cblr-1719	302	12	by	by	ADP
cblr-1719	302	13	using	use	VERB
cblr-1719	302	14	seven	seven	NUM
cblr-1719	302	15	instrumental	instrumental	ADJ
cblr-1719	302	16	variables.95	variables.95	NOUN
cblr-1719	302	17	however	however	ADV
cblr-1719	302	18	,	,	PUNCT
cblr-1719	302	19	the	the	DET
cblr-1719	302	20	quality	quality	NOUN
cblr-1719	302	21	of	of	ADP
cblr-1719	302	22	the	the	DET
cblr-1719	302	23	instruments	instrument	NOUN
cblr-1719	302	24	has	have	AUX
cblr-1719	302	25	been	be	AUX
cblr-1719	302	26	contested	contest	VERB
cblr-1719	302	27	by	by	ADP
cblr-1719	302	28	scholars	scholar	NOUN
cblr-1719	302	29	and	and	CCONJ
cblr-1719	302	30	additional	additional	ADJ
cblr-1719	302	31	89	89	NUM
cblr-1719	302	32	henrik	henrik	PROPN
cblr-1719	302	33	cronqvist	cronqvist	PROPN
cblr-1719	302	34	&	&	CCONJ
cblr-1719	302	35	mattias	mattias	PROPN
cblr-1719	302	36	nilsson	nilsson	PROPN
cblr-1719	302	37	,	,	PUNCT
cblr-1719	302	38	agency	agency	NOUN
cblr-1719	302	39	costs	cost	NOUN
cblr-1719	302	40	of	of	ADP
cblr-1719	302	41	controlling	control	VERB
cblr-1719	302	42	minority	minority	NOUN
cblr-1719	302	43	shareholders	shareholder	NOUN
cblr-1719	302	44	,	,	PUNCT
cblr-1719	302	45	38	38	NUM
cblr-1719	302	46	j.	j.	PROPN
cblr-1719	302	47	fin	fin	PROPN
cblr-1719	302	48	.	.	PROPN
cblr-1719	302	49	&	&	CCONJ
cblr-1719	302	50	quan	quan	PROPN
cblr-1719	302	51	.	.	PUNCT
cblr-1719	303	1	analysis	analysis	NOUN
cblr-1719	303	2	695	695	NUM
cblr-1719	303	3	,	,	PUNCT
cblr-1719	303	4	697	697	NUM
cblr-1719	303	5	(	(	PUNCT
cblr-1719	303	6	2003	2003	NUM
cblr-1719	303	7	)	)	PUNCT
cblr-1719	303	8	.	.	PUNCT
cblr-1719	304	1	90	90	NUM
cblr-1719	304	2	benjamin	benjamin	PROPN
cblr-1719	304	3	maury	maury	PROPN
cblr-1719	304	4	&	&	CCONJ
cblr-1719	304	5	anete	anete	ADJ
cblr-1719	304	6	pajuste	pajuste	NOUN
cblr-1719	304	7	,	,	PUNCT
cblr-1719	304	8	multiple	multiple	ADJ
cblr-1719	304	9	large	large	ADJ
cblr-1719	304	10	shareholders	shareholder	NOUN
cblr-1719	304	11	and	and	CCONJ
cblr-1719	304	12	firm	firm	ADJ
cblr-1719	304	13	value	value	NOUN
cblr-1719	304	14	,	,	PUNCT
cblr-1719	304	15	29	29	NUM
cblr-1719	304	16	j.	j.	PROPN
cblr-1719	304	17	banking	banking	PROPN
cblr-1719	304	18	&	&	CCONJ
cblr-1719	304	19	fin	fin	PROPN
cblr-1719	304	20	.	.	PUNCT
cblr-1719	304	21	1813	1813	NUM
cblr-1719	304	22	,	,	PUNCT
cblr-1719	304	23	1827	1827	NUM
cblr-1719	304	24	(	(	PUNCT
cblr-1719	304	25	2005	2005	NUM
cblr-1719	304	26	)	)	PUNCT
cblr-1719	304	27	.	.	PUNCT
cblr-1719	305	1	91	91	NUM
cblr-1719	305	2	large	large	ADJ
cblr-1719	305	3	firms	firm	NOUN
cblr-1719	305	4	in	in	ADP
cblr-1719	305	5	the	the	DET
cblr-1719	305	6	united	united	PROPN
cblr-1719	305	7	states	states	PROPN
cblr-1719	305	8	are	be	AUX
cblr-1719	305	9	free	free	ADV
cblr-1719	305	10	-	-	PUNCT
cblr-1719	305	11	standing	stand	VERB
cblr-1719	305	12	and	and	CCONJ
cblr-1719	305	13	widely	widely	ADV
cblr-1719	305	14	held	hold	VERB
cblr-1719	305	15	.	.	PUNCT
cblr-1719	306	1	pyramidal	pyramidal	ADJ
cblr-1719	306	2	ownership	ownership	NOUN
cblr-1719	306	3	is	be	AUX
cblr-1719	306	4	virtually	virtually	ADV
cblr-1719	306	5	non	non	ADJ
cblr-1719	306	6	-	-	ADJ
cblr-1719	306	7	existent	existent	ADJ
cblr-1719	306	8	due	due	ADP
cblr-1719	306	9	to	to	ADP
cblr-1719	306	10	the	the	DET
cblr-1719	306	11	introduction	introduction	NOUN
cblr-1719	306	12	of	of	ADP
cblr-1719	306	13	the	the	DET
cblr-1719	306	14	intercorporate	intercorporate	ADJ
cblr-1719	306	15	dividend	dividend	NOUN
cblr-1719	306	16	tax	tax	NOUN
cblr-1719	306	17	in	in	ADP
cblr-1719	306	18	1935	1935	NUM
cblr-1719	306	19	.	.	PUNCT
cblr-1719	307	1	randall	randall	PROPN
cblr-1719	307	2	morck	morck	PROPN
cblr-1719	307	3	&	&	CCONJ
cblr-1719	307	4	bernard	bernard	PROPN
cblr-1719	307	5	yeung	yeung	PROPN
cblr-1719	307	6	,	,	PUNCT
cblr-1719	307	7	dividend	dividend	NOUN
cblr-1719	307	8	taxation	taxation	NOUN
cblr-1719	307	9	and	and	CCONJ
cblr-1719	307	10	corporate	corporate	ADJ
cblr-1719	307	11	governance	governance	NOUN
cblr-1719	307	12	,	,	PUNCT
cblr-1719	307	13	19	19	NUM
cblr-1719	307	14	j.	j.	PROPN
cblr-1719	307	15	econ	econ	PROPN
cblr-1719	307	16	.	.	PUNCT
cblr-1719	308	1	persp	persp	PROPN
cblr-1719	308	2	.	.	PUNCT
cblr-1719	309	1	163	163	NUM
cblr-1719	309	2	,	,	PUNCT
cblr-1719	309	3	164	164	NUM
cblr-1719	309	4	(	(	PUNCT
cblr-1719	309	5	2005	2005	NUM
cblr-1719	309	6	)	)	PUNCT
cblr-1719	309	7	.	.	PUNCT
cblr-1719	310	1	92	92	NUM
cblr-1719	310	2	gompers	gomper	NOUN
cblr-1719	310	3	et	et	PROPN
cblr-1719	310	4	al	al	PROPN
cblr-1719	310	5	.	.	PROPN
cblr-1719	310	6	,	,	PUNCT
cblr-1719	310	7	supra	supra	PROPN
cblr-1719	310	8	note	note	PROPN
cblr-1719	310	9	8	8	NUM
cblr-1719	310	10	,	,	PUNCT
cblr-1719	310	11	at	at	ADP
cblr-1719	310	12	1054	1054	NUM
cblr-1719	310	13	.	.	PUNCT
cblr-1719	311	1	93	93	NUM
cblr-1719	312	1	i	i	PRON
cblr-1719	312	2	d.	d.	PROPN
cblr-1719	312	3	at	at	ADP
cblr-1719	312	4	1073–76	1073–76	NUM
cblr-1719	312	5	.	.	PUNCT
cblr-1719	313	1	94	94	NUM
cblr-1719	313	2	adams	adams	PROPN
cblr-1719	313	3	&	&	CCONJ
cblr-1719	313	4	ferreira	ferreira	PROPN
cblr-1719	313	5	,	,	PUNCT
cblr-1719	313	6	supra	supra	PROPN
cblr-1719	313	7	note	note	PROPN
cblr-1719	313	8	84	84	NUM
cblr-1719	313	9	,	,	PUNCT
cblr-1719	313	10	at	at	ADP
cblr-1719	313	11	67–68	67–68	NUM
cblr-1719	313	12	.	.	PUNCT
cblr-1719	314	1	95	95	NUM
cblr-1719	314	2	gompers	gomper	NOUN
cblr-1719	314	3	et	et	NOUN
cblr-1719	314	4	al	al	PROPN
cblr-1719	314	5	.	.	PROPN
cblr-1719	314	6	,	,	PUNCT
cblr-1719	314	7	supra	supra	PROPN
cblr-1719	314	8	note	note	PROPN
cblr-1719	314	9	8	8	NUM
cblr-1719	314	10	,	,	PUNCT
cblr-1719	314	11	at	at	ADP
cblr-1719	314	12	1071–72	1071–72	NUM
cblr-1719	314	13	.	.	PUNCT
cblr-1719	315	1	lin	lin	PROPN
cblr-1719	315	2	–	–	PUNCT
cblr-1719	315	3	final	final	ADJ
cblr-1719	315	4	478	478	NUM
cblr-1719	315	5	columbia	columbia	PROPN
cblr-1719	315	6	business	business	NOUN
cblr-1719	315	7	law	law	PROPN
cblr-1719	315	8	review	review	NOUN
cblr-1719	315	9	[	[	X
cblr-1719	315	10	vol	vol	NOUN
cblr-1719	315	11	.	.	NOUN
cblr-1719	315	12	2017	2017	NUM
cblr-1719	315	13	research	research	NOUN
cblr-1719	315	14	needs	need	VERB
cblr-1719	315	15	to	to	PART
cblr-1719	315	16	be	be	AUX
cblr-1719	315	17	undertaken	undertake	VERB
cblr-1719	315	18	to	to	PART
cblr-1719	315	19	address	address	VERB
cblr-1719	315	20	the	the	DET
cblr-1719	315	21	endogeneity	endogeneity	NOUN
cblr-1719	315	22	issue.96	issue.96	NOUN
cblr-1719	315	23	in	in	ADP
cblr-1719	315	24	summary	summary	NOUN
cblr-1719	315	25	,	,	PUNCT
cblr-1719	315	26	there	there	PRON
cblr-1719	315	27	is	be	VERB
cblr-1719	315	28	empirical	empirical	ADJ
cblr-1719	315	29	evidence	evidence	NOUN
cblr-1719	315	30	supporting	support	VERB
cblr-1719	315	31	the	the	DET
cblr-1719	315	32	correlation	correlation	NOUN
cblr-1719	315	33	between	between	ADP
cblr-1719	315	34	control	control	NOUN
cblr-1719	315	35	-	-	PUNCT
cblr-1719	315	36	enhancing	enhance	VERB
cblr-1719	315	37	mechanisms	mechanism	NOUN
cblr-1719	315	38	and	and	CCONJ
cblr-1719	315	39	lower	low	ADJ
cblr-1719	315	40	firm	firm	ADJ
cblr-1719	315	41	value	value	NOUN
cblr-1719	315	42	,	,	PUNCT
cblr-1719	315	43	but	but	CCONJ
cblr-1719	315	44	a	a	DET
cblr-1719	315	45	causal	causal	NOUN
cblr-1719	315	46	link	link	NOUN
cblr-1719	315	47	between	between	ADP
cblr-1719	315	48	the	the	DET
cblr-1719	315	49	two	two	NUM
cblr-1719	315	50	has	have	VERB
cblr-1719	315	51	yet	yet	ADV
cblr-1719	315	52	to	to	PART
cblr-1719	315	53	be	be	AUX
cblr-1719	315	54	established.97	established.97	NOUN
cblr-1719	315	55	if	if	SCONJ
cblr-1719	315	56	our	our	PRON
cblr-1719	315	57	policy	policy	NOUN
cblr-1719	315	58	goal	goal	NOUN
cblr-1719	315	59	is	be	AUX
cblr-1719	315	60	to	to	PART
cblr-1719	315	61	protect	protect	VERB
cblr-1719	315	62	outside	outside	ADJ
cblr-1719	315	63	shareholders	shareholder	NOUN
cblr-1719	315	64	,	,	PUNCT
cblr-1719	315	65	it	it	PRON
cblr-1719	315	66	is	be	AUX
cblr-1719	315	67	then	then	ADV
cblr-1719	315	68	justified	justified	ADJ
cblr-1719	315	69	to	to	PART
cblr-1719	315	70	implement	implement	VERB
cblr-1719	315	71	policies	policy	NOUN
cblr-1719	315	72	that	that	PRON
cblr-1719	315	73	would	would	AUX
cblr-1719	315	74	align	align	VERB
cblr-1719	315	75	the	the	DET
cblr-1719	315	76	proportionality	proportionality	NOUN
cblr-1719	315	77	between	between	ADP
cblr-1719	315	78	control	control	NOUN
cblr-1719	315	79	and	and	CCONJ
cblr-1719	315	80	ownership	ownership	NOUN
cblr-1719	315	81	.	.	PUNCT
cblr-1719	316	1	however	however	ADV
cblr-1719	316	2	,	,	PUNCT
cblr-1719	316	3	do	do	AUX
cblr-1719	316	4	we	we	PRON
cblr-1719	316	5	know	know	VERB
cblr-1719	316	6	which	which	DET
cblr-1719	316	7	mechanism	mechanism	NOUN
cblr-1719	316	8	creates	create	VERB
cblr-1719	316	9	the	the	DET
cblr-1719	316	10	most	most	ADJ
cblr-1719	316	11	agency	agency	NOUN
cblr-1719	316	12	costs	cost	NOUN
cblr-1719	316	13	to	to	ADP
cblr-1719	316	14	outside	outside	ADJ
cblr-1719	316	15	shareholders	shareholder	NOUN
cblr-1719	316	16	?	?	PUNCT
cblr-1719	317	1	most	most	ADJ
cblr-1719	317	2	studies	study	NOUN
cblr-1719	317	3	focus	focus	VERB
cblr-1719	317	4	on	on	ADP
cblr-1719	317	5	the	the	DET
cblr-1719	317	6	degree	degree	NOUN
cblr-1719	317	7	of	of	ADP
cblr-1719	317	8	deviation	deviation	NOUN
cblr-1719	317	9	from	from	ADP
cblr-1719	317	10	proportionality	proportionality	NOUN
cblr-1719	317	11	,	,	PUNCT
cblr-1719	317	12	whereas	whereas	SCONJ
cblr-1719	317	13	very	very	ADV
cblr-1719	317	14	few	few	ADJ
cblr-1719	317	15	discuss	discuss	VERB
cblr-1719	317	16	whether	whether	SCONJ
cblr-1719	317	17	the	the	DET
cblr-1719	317	18	mechanisms	mechanism	NOUN
cblr-1719	317	19	used	use	VERB
cblr-1719	317	20	also	also	ADV
cblr-1719	317	21	matter	matter	VERB
cblr-1719	317	22	.	.	PUNCT
cblr-1719	318	1	bennedsen	bennedsen	PROPN
cblr-1719	318	2	and	and	CCONJ
cblr-1719	318	3	nielsen	nielsen	PROPN
cblr-1719	318	4	addressed	address	VERB
cblr-1719	318	5	this	this	DET
cblr-1719	318	6	issue	issue	NOUN
cblr-1719	318	7	by	by	ADP
cblr-1719	318	8	studying	study	VERB
cblr-1719	318	9	a	a	DET
cblr-1719	318	10	large	large	ADJ
cblr-1719	318	11	sample	sample	NOUN
cblr-1719	318	12	of	of	ADP
cblr-1719	318	13	european	european	ADJ
cblr-1719	318	14	firms	firm	NOUN
cblr-1719	318	15	.	.	PUNCT
cblr-1719	319	1	consistent	consistent	ADJ
cblr-1719	319	2	with	with	ADP
cblr-1719	319	3	prior	prior	ADJ
cblr-1719	319	4	research	research	NOUN
cblr-1719	319	5	,	,	PUNCT
cblr-1719	319	6	they	they	PRON
cblr-1719	319	7	found	find	VERB
cblr-1719	319	8	large	large	ADJ
cblr-1719	319	9	and	and	CCONJ
cblr-1719	319	10	significant	significant	ADJ
cblr-1719	319	11	value	value	NOUN
cblr-1719	319	12	discounts	discount	NOUN
cblr-1719	319	13	on	on	ADP
cblr-1719	319	14	firms	firm	NOUN
cblr-1719	319	15	with	with	ADP
cblr-1719	319	16	leveraged	leveraged	ADJ
cblr-1719	319	17	control	control	NOUN
cblr-1719	319	18	in	in	ADP
cblr-1719	319	19	europe.98	europe.98	PROPN
cblr-1719	319	20	in	in	ADP
cblr-1719	319	21	particular	particular	ADJ
cblr-1719	319	22	,	,	PUNCT
cblr-1719	319	23	the	the	DET
cblr-1719	319	24	value	value	NOUN
cblr-1719	319	25	discount	discount	NOUN
cblr-1719	319	26	on	on	ADP
cblr-1719	319	27	firms	firm	NOUN
cblr-1719	319	28	with	with	ADP
cblr-1719	319	29	dual	dual	ADJ
cblr-1719	319	30	-	-	PUNCT
cblr-1719	319	31	class	class	NOUN
cblr-1719	319	32	shares	share	NOUN
cblr-1719	319	33	was	be	AUX
cblr-1719	319	34	more	more	ADJ
cblr-1719	319	35	than	than	ADP
cblr-1719	319	36	twice	twice	ADV
cblr-1719	319	37	as	as	ADV
cblr-1719	319	38	large	large	ADJ
cblr-1719	319	39	as	as	ADP
cblr-1719	319	40	the	the	DET
cblr-1719	319	41	discounts	discount	NOUN
cblr-1719	319	42	on	on	ADP
cblr-1719	319	43	firms	firm	NOUN
cblr-1719	319	44	with	with	ADP
cblr-1719	319	45	pyramidal	pyramidal	ADJ
cblr-1719	319	46	structures	structure	NOUN
cblr-1719	319	47	,	,	PUNCT
cblr-1719	319	48	while	while	SCONJ
cblr-1719	319	49	crossshareholding	crossshareholde	VERB
cblr-1719	319	50	and	and	CCONJ
cblr-1719	319	51	other	other	ADJ
cblr-1719	319	52	mechanisms	mechanism	NOUN
cblr-1719	319	53	did	do	AUX
cblr-1719	319	54	not	not	PART
cblr-1719	319	55	have	have	VERB
cblr-1719	319	56	a	a	DET
cblr-1719	319	57	significant	significant	ADJ
cblr-1719	319	58	impact	impact	NOUN
cblr-1719	319	59	on	on	ADP
cblr-1719	319	60	firm	firm	ADJ
cblr-1719	319	61	value.99	value.99	NOUN
cblr-1719	319	62	when	when	SCONJ
cblr-1719	319	63	comparing	compare	VERB
cblr-1719	319	64	firms	firm	NOUN
cblr-1719	319	65	with	with	ADP
cblr-1719	319	66	different	different	ADJ
cblr-1719	319	67	control	control	NOUN
cblr-1719	319	68	-	-	PUNCT
cblr-1719	319	69	enhancing	enhance	VERB
cblr-1719	319	70	mechanisms	mechanism	NOUN
cblr-1719	319	71	,	,	PUNCT
cblr-1719	319	72	they	they	PRON
cblr-1719	319	73	found	find	VERB
cblr-1719	319	74	that	that	SCONJ
cblr-1719	319	75	the	the	DET
cblr-1719	319	76	larger	large	ADJ
cblr-1719	319	77	value	value	NOUN
cblr-1719	319	78	discount	discount	NOUN
cblr-1719	319	79	in	in	ADP
cblr-1719	319	80	dual	dual	ADJ
cblr-1719	319	81	-	-	PUNCT
cblr-1719	319	82	class	class	NOUN
cblr-1719	319	83	share	share	NOUN
cblr-1719	319	84	firms	firm	NOUN
cblr-1719	319	85	may	may	AUX
cblr-1719	319	86	be	be	AUX
cblr-1719	319	87	attributed	attribute	VERB
cblr-1719	319	88	to	to	ADP
cblr-1719	319	89	worse	bad	ADJ
cblr-1719	319	90	operating	operating	NOUN
cblr-1719	319	91	performance	performance	NOUN
cblr-1719	319	92	,	,	PUNCT
cblr-1719	319	93	smaller	small	ADJ
cblr-1719	319	94	dividend	dividend	NOUN
cblr-1719	319	95	payout	payout	NOUN
cblr-1719	319	96	,	,	PUNCT
cblr-1719	319	97	and	and	CCONJ
cblr-1719	319	98	lower	low	ADJ
cblr-1719	319	99	growth	growth	NOUN
cblr-1719	319	100	in	in	ADP
cblr-1719	319	101	assets	asset	NOUN
cblr-1719	319	102	relative	relative	ADJ
cblr-1719	319	103	to	to	ADP
cblr-1719	319	104	pyramidal	pyramidal	ADJ
cblr-1719	319	105	firms.100	firms.100	NOUN
cblr-1719	319	106	since	since	SCONJ
cblr-1719	319	107	family	family	NOUN
cblr-1719	319	108	firms	firm	NOUN
cblr-1719	319	109	are	be	AUX
cblr-1719	319	110	overrepresented	overrepresente	VERB
cblr-1719	319	111	among	among	ADP
cblr-1719	319	112	firms	firm	NOUN
cblr-1719	319	113	with	with	ADP
cblr-1719	319	114	a	a	DET
cblr-1719	319	115	controlling	control	VERB
cblr-1719	319	116	-	-	PUNCT
cblr-1719	319	117	minority	minority	NOUN
cblr-1719	319	118	structure	structure	NOUN
cblr-1719	319	119	,	,	PUNCT
cblr-1719	319	120	it	it	PRON
cblr-1719	319	121	is	be	AUX
cblr-1719	319	122	not	not	PART
cblr-1719	319	123	clear	clear	ADJ
cblr-1719	319	124	whether	whether	SCONJ
cblr-1719	319	125	the	the	DET
cblr-1719	319	126	lower	low	ADJ
cblr-1719	319	127	value	value	NOUN
cblr-1719	319	128	discount	discount	NOUN
cblr-1719	319	129	is	be	AUX
cblr-1719	319	130	driven	drive	VERB
cblr-1719	319	131	by	by	ADP
cblr-1719	319	132	their	their	PRON
cblr-1719	319	133	over	over	NOUN
cblr-1719	319	134	-	-	PUNCT
cblr-1719	319	135	representation	representation	NOUN
cblr-1719	319	136	among	among	ADP
cblr-1719	319	137	dual	dual	ADJ
cblr-1719	319	138	-	-	PUNCT
cblr-1719	319	139	class	class	NOUN
cblr-1719	319	140	firms.101	firms.101	PRON
cblr-1719	319	141	villalonga	villalonga	ADJ
cblr-1719	319	142	and	and	CCONJ
cblr-1719	319	143	amit	amit	PROPN
cblr-1719	319	144	studied	study	VERB
cblr-1719	319	145	whether	whether	SCONJ
cblr-1719	319	146	different	different	ADJ
cblr-1719	319	147	forms	form	NOUN
cblr-1719	319	148	of	of	ADP
cblr-1719	319	149	control	control	NOUN
cblr-1719	319	150	-	-	PUNCT
cblr-1719	319	151	enhancing	enhance	VERB
cblr-1719	319	152	mechanisms	mechanism	NOUN
cblr-1719	319	153	matter	matter	NOUN
cblr-1719	319	154	in	in	ADP
cblr-1719	319	155	u.s	u.s	PROPN
cblr-1719	319	156	.	.	PROPN
cblr-1719	319	157	firms	firm	NOUN
cblr-1719	319	158	by	by	ADP
cblr-1719	319	159	examining	examine	VERB
cblr-1719	319	160	the	the	DET
cblr-1719	319	161	individual	individual	ADJ
cblr-1719	319	162	effects	effect	NOUN
cblr-1719	319	163	of	of	ADP
cblr-1719	319	164	dual	dual	ADJ
cblr-1719	319	165	-	-	PUNCT
cblr-1719	319	166	class	class	NOUN
cblr-1719	319	167	shares	share	NOUN
cblr-1719	319	168	,	,	PUNCT
cblr-1719	319	169	voting	voting	NOUN
cblr-1719	319	170	agreements	agreement	NOUN
cblr-1719	319	171	,	,	PUNCT
cblr-1719	319	172	pyramids	pyramid	NOUN
cblr-1719	319	173	,	,	PUNCT
cblr-1719	319	174	and	and	CCONJ
cblr-1719	319	175	disproportional	disproportional	ADJ
cblr-1719	319	176	board	board	NOUN
cblr-1719	319	177	96	96	NUM
cblr-1719	319	178	bennedsen	bennedsen	PROPN
cblr-1719	319	179	&	&	CCONJ
cblr-1719	319	180	nielsen	nielsen	PROPN
cblr-1719	319	181	,	,	PUNCT
cblr-1719	320	1	supra	supra	PROPN
cblr-1719	320	2	note	note	NOUN
cblr-1719	320	3	71	71	NUM
cblr-1719	320	4	,	,	PUNCT
cblr-1719	320	5	at	at	ADP
cblr-1719	320	6	2213	2213	NUM
cblr-1719	320	7	;	;	PUNCT
cblr-1719	320	8	adams	adams	PROPN
cblr-1719	320	9	&	&	CCONJ
cblr-1719	320	10	ferreira	ferreira	PROPN
cblr-1719	320	11	,	,	PUNCT
cblr-1719	320	12	supra	supra	PROPN
cblr-1719	320	13	note	note	PROPN
cblr-1719	320	14	84	84	NUM
cblr-1719	320	15	,	,	PUNCT
cblr-1719	320	16	at	at	ADP
cblr-1719	320	17	64–65	64–65	NUM
cblr-1719	320	18	.	.	PUNCT
cblr-1719	321	1	97	97	NUM
cblr-1719	321	2	adams	adams	PROPN
cblr-1719	321	3	&	&	CCONJ
cblr-1719	321	4	ferreira	ferreira	PROPN
cblr-1719	321	5	,	,	PUNCT
cblr-1719	321	6	supra	supra	PROPN
cblr-1719	321	7	note	note	PROPN
cblr-1719	321	8	84	84	NUM
cblr-1719	321	9	,	,	PUNCT
cblr-1719	321	10	at	at	ADP
cblr-1719	321	11	64–65	64–65	NUM
cblr-1719	321	12	.	.	PUNCT
cblr-1719	322	1	98	98	NUM
cblr-1719	322	2	bennedsen	bennedsen	PROPN
cblr-1719	322	3	&	&	CCONJ
cblr-1719	322	4	nielsen	nielsen	PROPN
cblr-1719	322	5	,	,	PUNCT
cblr-1719	322	6	supra	supra	PROPN
cblr-1719	322	7	note	note	NOUN
cblr-1719	322	8	71	71	NUM
cblr-1719	322	9	,	,	PUNCT
cblr-1719	322	10	at	at	ADP
cblr-1719	322	11	2216–17	2216–17	NUM
cblr-1719	322	12	.	.	PUNCT
cblr-1719	323	1	99	99	NUM
cblr-1719	324	1	i	i	PRON
cblr-1719	324	2	d.	d.	PROPN
cblr-1719	324	3	at	at	ADP
cblr-1719	324	4	2217	2217	NUM
cblr-1719	324	5	,	,	PUNCT
cblr-1719	324	6	2220	2220	NUM
cblr-1719	324	7	.	.	NOUN
cblr-1719	324	8	100	100	NUM
cblr-1719	325	1	i	i	PRON
cblr-1719	325	2	d.	d.	PROPN
cblr-1719	325	3	at	at	ADP
cblr-1719	325	4	2221–23	2221–23	NOUN
cblr-1719	325	5	.	.	PUNCT
cblr-1719	326	1	101	101	NUM
cblr-1719	327	1	i	i	PRON
cblr-1719	327	2	d.	d.	PROPN
cblr-1719	327	3	at	at	ADP
cblr-1719	327	4	2222	2222	NUM
cblr-1719	327	5	.	.	PUNCT
cblr-1719	328	1	lin	lin	PROPN
cblr-1719	328	2	–	–	PUNCT
cblr-1719	328	3	final	final	ADJ
cblr-1719	328	4	no	no	NOUN
cblr-1719	328	5	.	.	PUNCT
cblr-1719	328	6	2:453	2:453	NUM
cblr-1719	328	7	]	]	X
cblr-1719	328	8	controlling	control	VERB
cblr-1719	328	9	-	-	PUNCT
cblr-1719	328	10	minority	minority	NOUN
cblr-1719	328	11	shareholders	shareholder	NOUN
cblr-1719	328	12	479	479	NUM
cblr-1719	328	13	representation	representation	NOUN
cblr-1719	328	14	.	.	PUNCT
cblr-1719	329	1	they	they	PRON
cblr-1719	329	2	found	find	VERB
cblr-1719	329	3	that	that	SCONJ
cblr-1719	329	4	dual	dual	ADJ
cblr-1719	329	5	-	-	PUNCT
cblr-1719	329	6	class	class	NOUN
cblr-1719	329	7	shares	share	NOUN
cblr-1719	329	8	and	and	CCONJ
cblr-1719	329	9	disproportional	disproportional	ADJ
cblr-1719	329	10	board	board	NOUN
cblr-1719	329	11	representation	representation	NOUN
cblr-1719	329	12	have	have	VERB
cblr-1719	329	13	a	a	DET
cblr-1719	329	14	negative	negative	ADJ
cblr-1719	329	15	impact	impact	NOUN
cblr-1719	329	16	,	,	PUNCT
cblr-1719	329	17	though	though	SCONJ
cblr-1719	329	18	not	not	PART
cblr-1719	329	19	statistically	statistically	ADV
cblr-1719	329	20	significant	significant	ADJ
cblr-1719	329	21	,	,	PUNCT
cblr-1719	329	22	while	while	SCONJ
cblr-1719	329	23	pyramids	pyramid	NOUN
cblr-1719	329	24	and	and	CCONJ
cblr-1719	329	25	voting	voting	NOUN
cblr-1719	329	26	agreements	agreement	NOUN
cblr-1719	329	27	have	have	VERB
cblr-1719	329	28	a	a	DET
cblr-1719	329	29	positive	positive	ADJ
cblr-1719	329	30	impact	impact	NOUN
cblr-1719	329	31	on	on	ADP
cblr-1719	329	32	the	the	DET
cblr-1719	329	33	market	market	NOUN
cblr-1719	329	34	value	value	NOUN
cblr-1719	329	35	of	of	ADP
cblr-1719	329	36	a	a	DET
cblr-1719	329	37	firm.102	firm.102	NOUN
cblr-1719	329	38	based	base	VERB
cblr-1719	329	39	on	on	ADP
cblr-1719	329	40	the	the	DET
cblr-1719	329	41	research	research	NOUN
cblr-1719	329	42	presented	present	VERB
cblr-1719	329	43	thus	thus	ADV
cblr-1719	329	44	far	far	ADV
cblr-1719	329	45	,	,	PUNCT
cblr-1719	329	46	the	the	DET
cblr-1719	329	47	difference	difference	NOUN
cblr-1719	329	48	in	in	ADP
cblr-1719	329	49	the	the	DET
cblr-1719	329	50	value	value	NOUN
cblr-1719	329	51	discount	discount	NOUN
cblr-1719	329	52	between	between	ADP
cblr-1719	329	53	dual	dual	ADJ
cblr-1719	329	54	-	-	PUNCT
cblr-1719	329	55	class	class	NOUN
cblr-1719	329	56	firms	firm	NOUN
cblr-1719	329	57	and	and	CCONJ
cblr-1719	329	58	pyramidal	pyramidal	ADJ
cblr-1719	329	59	firms	firm	NOUN
cblr-1719	329	60	—	—	PUNCT
cblr-1719	329	61	which	which	PRON
cblr-1719	329	62	is	be	AUX
cblr-1719	329	63	both	both	PRON
cblr-1719	329	64	economically	economically	ADV
cblr-1719	329	65	and	and	CCONJ
cblr-1719	329	66	statistically	statistically	ADV
cblr-1719	329	67	significant	significant	ADJ
cblr-1719	329	68	—	—	PUNCT
cblr-1719	329	69	implies	imply	VERB
cblr-1719	329	70	that	that	SCONJ
cblr-1719	329	71	future	future	ADJ
cblr-1719	329	72	policymakers	policymaker	NOUN
cblr-1719	329	73	and	and	CCONJ
cblr-1719	329	74	researchers	researcher	NOUN
cblr-1719	329	75	need	need	VERB
cblr-1719	329	76	to	to	PART
cblr-1719	329	77	pay	pay	VERB
cblr-1719	329	78	more	more	ADJ
cblr-1719	329	79	attention	attention	NOUN
cblr-1719	329	80	to	to	ADP
cblr-1719	329	81	the	the	DET
cblr-1719	329	82	impact	impact	NOUN
cblr-1719	329	83	of	of	ADP
cblr-1719	329	84	different	different	ADJ
cblr-1719	329	85	forms	form	NOUN
cblr-1719	329	86	of	of	ADP
cblr-1719	329	87	control	control	NOUN
cblr-1719	329	88	-	-	PUNCT
cblr-1719	329	89	enhancing	enhance	VERB
cblr-1719	329	90	mechanisms	mechanism	NOUN
cblr-1719	329	91	.	.	PUNCT
cblr-1719	330	1	103	103	NUM
cblr-1719	330	2	however	however	ADV
cblr-1719	330	3	,	,	PUNCT
cblr-1719	330	4	it	it	PRON
cblr-1719	330	5	should	should	AUX
cblr-1719	330	6	also	also	ADV
cblr-1719	330	7	be	be	AUX
cblr-1719	330	8	noted	note	VERB
cblr-1719	330	9	that	that	SCONJ
cblr-1719	330	10	,	,	PUNCT
cblr-1719	330	11	similar	similar	ADJ
cblr-1719	330	12	to	to	ADP
cblr-1719	330	13	other	other	ADJ
cblr-1719	330	14	ownership	ownership	NOUN
cblr-1719	330	15	studies	study	NOUN
cblr-1719	330	16	,	,	PUNCT
cblr-1719	330	17	these	these	DET
cblr-1719	330	18	studies	study	NOUN
cblr-1719	330	19	encounter	encounter	VERB
cblr-1719	330	20	the	the	DET
cblr-1719	330	21	problem	problem	NOUN
cblr-1719	330	22	that	that	SCONJ
cblr-1719	330	23	firms	firm	NOUN
cblr-1719	330	24	do	do	AUX
cblr-1719	330	25	not	not	PART
cblr-1719	330	26	randomly	randomly	ADV
cblr-1719	330	27	choose	choose	VERB
cblr-1719	330	28	their	their	PRON
cblr-1719	330	29	ownership	ownership	NOUN
cblr-1719	330	30	structure	structure	NOUN
cblr-1719	330	31	and	and	CCONJ
cblr-1719	330	32	it	it	PRON
cblr-1719	330	33	is	be	AUX
cblr-1719	330	34	very	very	ADV
cblr-1719	330	35	hard	hard	ADJ
cblr-1719	330	36	to	to	PART
cblr-1719	330	37	dissect	dissect	VERB
cblr-1719	330	38	the	the	DET
cblr-1719	330	39	pure	pure	ADJ
cblr-1719	330	40	effects	effect	NOUN
cblr-1719	330	41	of	of	ADP
cblr-1719	330	42	adopting	adopt	VERB
cblr-1719	330	43	controlenhancing	controlenhancing	ADJ
cblr-1719	330	44	mechanisms	mechanism	NOUN
cblr-1719	330	45	.	.	PUNCT
cblr-1719	331	1	with	with	ADP
cblr-1719	331	2	regard	regard	NOUN
cblr-1719	331	3	to	to	ADP
cblr-1719	331	4	the	the	DET
cblr-1719	331	5	channels	channel	NOUN
cblr-1719	331	6	through	through	ADP
cblr-1719	331	7	which	which	PRON
cblr-1719	331	8	the	the	DET
cblr-1719	331	9	wedge	wedge	NOUN
cblr-1719	331	10	leads	lead	VERB
cblr-1719	331	11	to	to	ADP
cblr-1719	331	12	lower	low	ADJ
cblr-1719	331	13	shareholder	shareholder	NOUN
cblr-1719	331	14	values	value	NOUN
cblr-1719	331	15	,	,	PUNCT
cblr-1719	331	16	empirical	empirical	ADJ
cblr-1719	331	17	studies	study	NOUN
cblr-1719	331	18	have	have	AUX
cblr-1719	331	19	shown	show	VERB
cblr-1719	331	20	that	that	SCONJ
cblr-1719	331	21	the	the	DET
cblr-1719	331	22	operating	operating	NOUN
cblr-1719	331	23	performance	performance	NOUN
cblr-1719	331	24	of	of	ADP
cblr-1719	331	25	leveraged	leveraged	ADJ
cblr-1719	331	26	control	control	NOUN
cblr-1719	331	27	firms	firm	NOUN
cblr-1719	331	28	is	be	AUX
cblr-1719	331	29	not	not	PART
cblr-1719	331	30	significantly	significantly	ADV
cblr-1719	331	31	different	different	ADJ
cblr-1719	331	32	than	than	ADP
cblr-1719	331	33	that	that	PRON
cblr-1719	331	34	of	of	ADP
cblr-1719	331	35	regular	regular	ADJ
cblr-1719	331	36	firms	firm	NOUN
cblr-1719	331	37	,	,	PUNCT
cblr-1719	331	38	yet	yet	CCONJ
cblr-1719	331	39	the	the	DET
cblr-1719	331	40	market	market	NOUN
cblr-1719	331	41	values	value	NOUN
cblr-1719	331	42	of	of	ADP
cblr-1719	331	43	leveraged	leveraged	ADJ
cblr-1719	331	44	control	control	NOUN
cblr-1719	331	45	firms	firm	NOUN
cblr-1719	331	46	are	be	AUX
cblr-1719	331	47	significantly	significantly	ADV
cblr-1719	331	48	lower	low	ADJ
cblr-1719	331	49	than	than	ADP
cblr-1719	331	50	those	those	PRON
cblr-1719	331	51	of	of	ADP
cblr-1719	331	52	regular	regular	ADJ
cblr-1719	331	53	firms	firm	NOUN
cblr-1719	331	54	.	.	PUNCT
cblr-1719	332	1	the	the	DET
cblr-1719	332	2	result	result	NOUN
cblr-1719	332	3	indicates	indicate	VERB
cblr-1719	332	4	that	that	SCONJ
cblr-1719	332	5	controlling	control	VERB
cblr-1719	332	6	shareholders	shareholder	NOUN
cblr-1719	332	7	efficiently	efficiently	ADV
cblr-1719	332	8	monitor	monitor	VERB
cblr-1719	332	9	firm	firm	ADJ
cblr-1719	332	10	operations	operation	NOUN
cblr-1719	332	11	but	but	CCONJ
cblr-1719	332	12	extract	extract	VERB
cblr-1719	332	13	disproportional	disproportional	ADJ
cblr-1719	332	14	surplus	surplus	NOUN
cblr-1719	332	15	after	after	SCONJ
cblr-1719	332	16	the	the	DET
cblr-1719	332	17	operations	operation	NOUN
cblr-1719	332	18	have	have	AUX
cblr-1719	332	19	been	be	AUX
cblr-1719	332	20	carried	carry	VERB
cblr-1719	332	21	out.104	out.104	NOUN
cblr-1719	332	22	masulis	masuli	NOUN
cblr-1719	332	23	et	et	PROPN
cblr-1719	332	24	al	al	PROPN
cblr-1719	332	25	.	.	PROPN
cblr-1719	332	26	found	find	VERB
cblr-1719	332	27	evidence	evidence	NOUN
cblr-1719	332	28	that	that	PRON
cblr-1719	332	29	supports	support	VERB
cblr-1719	332	30	the	the	DET
cblr-1719	332	31	notion	notion	NOUN
cblr-1719	332	32	that	that	SCONJ
cblr-1719	332	33	managers	manager	NOUN
cblr-1719	332	34	in	in	ADP
cblr-1719	332	35	u.s	u.s	PROPN
cblr-1719	332	36	.	.	PROPN
cblr-1719	332	37	dual	dual	ADJ
cblr-1719	332	38	-	-	PUNCT
cblr-1719	332	39	class	class	NOUN
cblr-1719	332	40	firms	firm	NOUN
cblr-1719	332	41	extract	extract	VERB
cblr-1719	332	42	private	private	ADJ
cblr-1719	332	43	benefits	benefit	NOUN
cblr-1719	332	44	at	at	ADP
cblr-1719	332	45	the	the	DET
cblr-1719	332	46	expense	expense	NOUN
cblr-1719	332	47	of	of	ADP
cblr-1719	332	48	outside	outside	ADJ
cblr-1719	332	49	shareholders	shareholder	NOUN
cblr-1719	332	50	.	.	PUNCT
cblr-1719	333	1	they	they	PRON
cblr-1719	333	2	found	find	VERB
cblr-1719	333	3	that	that	SCONJ
cblr-1719	333	4	as	as	SCONJ
cblr-1719	333	5	the	the	DET
cblr-1719	333	6	gap	gap	NOUN
cblr-1719	333	7	between	between	ADP
cblr-1719	333	8	voting	voting	NOUN
cblr-1719	333	9	rights	right	NOUN
cblr-1719	333	10	and	and	CCONJ
cblr-1719	333	11	cash	cash	NOUN
cblr-1719	333	12	flow	flow	NOUN
cblr-1719	333	13	rights	right	NOUN
cblr-1719	333	14	widen	widen	VERB
cblr-1719	333	15	,	,	PUNCT
cblr-1719	333	16	cash	cash	NOUN
cblr-1719	333	17	reserves	reserve	NOUN
cblr-1719	333	18	are	be	AUX
cblr-1719	333	19	worth	worth	ADJ
cblr-1719	333	20	less	less	ADV
cblr-1719	333	21	to	to	ADP
cblr-1719	333	22	outside	outside	ADJ
cblr-1719	333	23	shareholders	shareholder	NOUN
cblr-1719	333	24	,	,	PUNCT
cblr-1719	333	25	ceos	ceo	NOUN
cblr-1719	333	26	receive	receive	VERB
cblr-1719	333	27	higher	high	ADJ
cblr-1719	333	28	compensation	compensation	NOUN
cblr-1719	333	29	,	,	PUNCT
cblr-1719	333	30	managers	manager	NOUN
cblr-1719	333	31	make	make	VERB
cblr-1719	333	32	shareholder	shareholder	NOUN
cblr-1719	333	33	value	value	NOUN
cblr-1719	333	34	-	-	PUNCT
cblr-1719	333	35	destroying	destroy	VERB
cblr-1719	333	36	acquisitions	acquisition	NOUN
cblr-1719	333	37	that	that	PRON
cblr-1719	333	38	benefit	benefit	VERB
cblr-1719	333	39	themselves	themselves	PRON
cblr-1719	333	40	more	more	ADV
cblr-1719	333	41	often	often	ADV
cblr-1719	333	42	,	,	PUNCT
cblr-1719	333	43	and	and	CCONJ
cblr-1719	333	44	capital	capital	NOUN
cblr-1719	333	45	expenditures	expenditure	NOUN
cblr-1719	333	46	contribute	contribute	VERB
cblr-1719	333	47	less	less	ADJ
cblr-1719	333	48	to	to	PART
cblr-1719	333	49	shareholder	shareholder	VERB
cblr-1719	333	50	value.105	value.105	NOUN
cblr-1719	333	51	102	102	NUM
cblr-1719	333	52	belén	belén	PROPN
cblr-1719	333	53	villalonga	villalonga	PROPN
cblr-1719	333	54	&	&	CCONJ
cblr-1719	333	55	raphael	raphael	PROPN
cblr-1719	333	56	amit	amit	PROPN
cblr-1719	333	57	,	,	PUNCT
cblr-1719	333	58	how	how	SCONJ
cblr-1719	333	59	are	be	AUX
cblr-1719	333	60	u.s	u.s	PROPN
cblr-1719	333	61	.	.	PROPN
cblr-1719	333	62	family	family	NOUN
cblr-1719	333	63	firms	firm	NOUN
cblr-1719	333	64	controlled	control	VERB
cblr-1719	333	65	?	?	PUNCT
cblr-1719	333	66	,	,	PUNCT
cblr-1719	333	67	22	22	NUM
cblr-1719	333	68	rev	rev	VERB
cblr-1719	333	69	.	.	PROPN
cblr-1719	333	70	fin	fin	NOUN
cblr-1719	333	71	.	.	PUNCT
cblr-1719	333	72	stud	stud	PROPN
cblr-1719	333	73	.	.	PUNCT
cblr-1719	334	1	3047	3047	NUM
cblr-1719	334	2	,	,	PUNCT
cblr-1719	334	3	3082–88	3082–88	NUM
cblr-1719	334	4	(	(	PUNCT
cblr-1719	334	5	2009	2009	NUM
cblr-1719	334	6	)	)	PUNCT
cblr-1719	334	7	.	.	PUNCT
cblr-1719	335	1	103	103	NUM
cblr-1719	335	2	bennedsen	bennedsen	PROPN
cblr-1719	335	3	&	&	CCONJ
cblr-1719	335	4	nielsen	nielsen	PROPN
cblr-1719	335	5	,	,	PUNCT
cblr-1719	335	6	supra	supra	PROPN
cblr-1719	335	7	note	note	NOUN
cblr-1719	335	8	71	71	NUM
cblr-1719	335	9	,	,	PUNCT
cblr-1719	335	10	at	at	ADP
cblr-1719	335	11	2227	2227	NUM
cblr-1719	335	12	.	.	PUNCT
cblr-1719	336	1	104	104	NUM
cblr-1719	337	1	i	i	PRON
cblr-1719	337	2	d.	d.	PROPN
cblr-1719	337	3	at	at	ADP
cblr-1719	337	4	2222	2222	NUM
cblr-1719	337	5	.	.	PUNCT
cblr-1719	338	1	105	105	NUM
cblr-1719	338	2	ronald	ronald	PROPN
cblr-1719	338	3	w.	w.	PROPN
cblr-1719	338	4	masulis	masulis	PROPN
cblr-1719	338	5	et	et	PROPN
cblr-1719	338	6	al	al	PROPN
cblr-1719	338	7	.	.	PROPN
cblr-1719	338	8	,	,	PUNCT
cblr-1719	338	9	agency	agency	NOUN
cblr-1719	338	10	problems	problem	NOUN
cblr-1719	338	11	at	at	ADP
cblr-1719	338	12	dual	dual	ADJ
cblr-1719	338	13	-	-	PUNCT
cblr-1719	338	14	class	class	NOUN
cblr-1719	338	15	companies	company	NOUN
cblr-1719	338	16	,	,	PUNCT
cblr-1719	338	17	64	64	NUM
cblr-1719	338	18	j.	j.	PROPN
cblr-1719	338	19	fin	fin	PROPN
cblr-1719	338	20	.	.	PUNCT
cblr-1719	338	21	1697	1697	NUM
cblr-1719	338	22	,	,	PUNCT
cblr-1719	338	23	1697	1697	NUM
cblr-1719	338	24	(	(	PUNCT
cblr-1719	338	25	2009	2009	NUM
cblr-1719	338	26	)	)	PUNCT
cblr-1719	338	27	.	.	PUNCT
cblr-1719	339	1	lin	lin	PROPN
cblr-1719	339	2	–	–	PUNCT
cblr-1719	339	3	final	final	ADJ
cblr-1719	339	4	480	480	NUM
cblr-1719	339	5	columbia	columbia	PROPN
cblr-1719	339	6	business	business	NOUN
cblr-1719	339	7	law	law	PROPN
cblr-1719	339	8	review	review	NOUN
cblr-1719	339	9	[	[	X
cblr-1719	339	10	vol	vol	NOUN
cblr-1719	339	11	.	.	PUNCT
cblr-1719	339	12	2017	2017	NUM
cblr-1719	339	13	despite	despite	SCONJ
cblr-1719	339	14	the	the	DET
cblr-1719	339	15	fact	fact	NOUN
cblr-1719	339	16	that	that	SCONJ
cblr-1719	339	17	there	there	PRON
cblr-1719	339	18	are	be	VERB
cblr-1719	339	19	certain	certain	ADJ
cblr-1719	339	20	variations	variation	NOUN
cblr-1719	339	21	in	in	ADP
cblr-1719	339	22	the	the	DET
cblr-1719	339	23	empirical	empirical	ADJ
cblr-1719	339	24	results	result	NOUN
cblr-1719	339	25	,	,	PUNCT
cblr-1719	339	26	most	most	ADJ
cblr-1719	339	27	of	of	ADP
cblr-1719	339	28	the	the	DET
cblr-1719	339	29	research	research	NOUN
cblr-1719	339	30	studies	study	NOUN
cblr-1719	339	31	that	that	PRON
cblr-1719	339	32	we	we	PRON
cblr-1719	339	33	surveyed	survey	VERB
cblr-1719	339	34	suggest	suggest	VERB
cblr-1719	339	35	that	that	SCONJ
cblr-1719	339	36	controlling	control	VERB
cblr-1719	339	37	-	-	PUNCT
cblr-1719	339	38	minority	minority	NOUN
cblr-1719	339	39	structure	structure	NOUN
cblr-1719	339	40	correlates	correlate	VERB
cblr-1719	339	41	with	with	ADP
cblr-1719	339	42	lower	low	ADJ
cblr-1719	339	43	firm	firm	ADJ
cblr-1719	339	44	value	value	NOUN
cblr-1719	339	45	.	.	PUNCT
cblr-1719	340	1	that	that	PRON
cblr-1719	340	2	means	mean	VERB
cblr-1719	340	3	that	that	SCONJ
cblr-1719	340	4	there	there	PRON
cblr-1719	340	5	is	be	VERB
cblr-1719	340	6	a	a	DET
cblr-1719	340	7	value	value	NOUN
cblr-1719	340	8	discount	discount	NOUN
cblr-1719	340	9	on	on	ADP
cblr-1719	340	10	firms	firm	NOUN
cblr-1719	340	11	with	with	ADP
cblr-1719	340	12	leveraged	leveraged	ADJ
cblr-1719	340	13	corporate	corporate	ADJ
cblr-1719	340	14	control	control	NOUN
cblr-1719	340	15	.	.	PUNCT
cblr-1719	341	1	the	the	DET
cblr-1719	341	2	evidence	evidence	NOUN
cblr-1719	341	3	,	,	PUNCT
cblr-1719	341	4	though	though	SCONJ
cblr-1719	341	5	limited	limited	ADJ
cblr-1719	341	6	,	,	PUNCT
cblr-1719	341	7	tends	tend	VERB
cblr-1719	341	8	to	to	PART
cblr-1719	341	9	show	show	VERB
cblr-1719	341	10	that	that	SCONJ
cblr-1719	341	11	the	the	DET
cblr-1719	341	12	value	value	NOUN
cblr-1719	341	13	discount	discount	NOUN
cblr-1719	341	14	does	do	AUX
cblr-1719	341	15	not	not	PART
cblr-1719	341	16	come	come	VERB
cblr-1719	341	17	from	from	ADP
cblr-1719	341	18	the	the	DET
cblr-1719	341	19	inefficient	inefficient	ADJ
cblr-1719	341	20	monitoring	monitoring	NOUN
cblr-1719	341	21	of	of	ADP
cblr-1719	341	22	controllers	controller	NOUN
cblr-1719	341	23	,	,	PUNCT
cblr-1719	341	24	but	but	CCONJ
cblr-1719	341	25	rather	rather	ADV
cblr-1719	341	26	,	,	PUNCT
cblr-1719	341	27	it	it	PRON
cblr-1719	341	28	comes	come	VERB
cblr-1719	341	29	from	from	ADP
cblr-1719	341	30	the	the	DET
cblr-1719	341	31	extraction	extraction	NOUN
cblr-1719	341	32	of	of	ADP
cblr-1719	341	33	private	private	ADJ
cblr-1719	341	34	benefits	benefit	NOUN
cblr-1719	341	35	of	of	ADP
cblr-1719	341	36	control	control	NOUN
cblr-1719	341	37	by	by	ADP
cblr-1719	341	38	controllers	controller	NOUN
cblr-1719	341	39	.	.	PUNCT
cblr-1719	342	1	from	from	ADP
cblr-1719	342	2	an	an	DET
cblr-1719	342	3	outside	outside	ADJ
cblr-1719	342	4	shareholder	shareholder	NOUN
cblr-1719	342	5	’s	’s	PART
cblr-1719	342	6	perspective	perspective	NOUN
cblr-1719	342	7	,	,	PUNCT
cblr-1719	342	8	the	the	DET
cblr-1719	342	9	cost	cost	NOUN
cblr-1719	342	10	of	of	ADP
cblr-1719	342	11	extraction	extraction	NOUN
cblr-1719	342	12	is	be	AUX
cblr-1719	342	13	higher	high	ADJ
cblr-1719	342	14	than	than	ADP
cblr-1719	342	15	the	the	DET
cblr-1719	342	16	benefits	benefit	NOUN
cblr-1719	342	17	of	of	ADP
cblr-1719	342	18	efficient	efficient	ADJ
cblr-1719	342	19	monitoring	monitoring	NOUN
cblr-1719	342	20	.	.	PUNCT
cblr-1719	343	1	furthermore	furthermore	ADV
cblr-1719	343	2	,	,	PUNCT
cblr-1719	343	3	the	the	DET
cblr-1719	343	4	mechanism	mechanism	NOUN
cblr-1719	343	5	that	that	PRON
cblr-1719	343	6	is	be	AUX
cblr-1719	343	7	used	use	VERB
cblr-1719	343	8	to	to	PART
cblr-1719	343	9	create	create	VERB
cblr-1719	343	10	leveraged	leveraged	ADJ
cblr-1719	343	11	corporate	corporate	ADJ
cblr-1719	343	12	control	control	NOUN
cblr-1719	343	13	matters	matter	NOUN
cblr-1719	343	14	;	;	PUNCT
cblr-1719	343	15	dual	dual	ADJ
cblr-1719	343	16	-	-	PUNCT
cblr-1719	343	17	class	class	NOUN
cblr-1719	343	18	share	share	NOUN
cblr-1719	343	19	structures	structure	NOUN
cblr-1719	343	20	seem	seem	VERB
cblr-1719	343	21	to	to	PART
cblr-1719	343	22	receive	receive	VERB
cblr-1719	343	23	a	a	DET
cblr-1719	343	24	higher	high	ADJ
cblr-1719	343	25	discount	discount	NOUN
cblr-1719	343	26	than	than	ADP
cblr-1719	343	27	pyramidal	pyramidal	ADJ
cblr-1719	343	28	structures	structure	NOUN
cblr-1719	343	29	,	,	PUNCT
cblr-1719	343	30	yet	yet	CCONJ
cblr-1719	343	31	we	we	PRON
cblr-1719	343	32	do	do	AUX
cblr-1719	343	33	not	not	PART
cblr-1719	343	34	know	know	VERB
cblr-1719	343	35	much	much	ADJ
cblr-1719	343	36	about	about	ADP
cblr-1719	343	37	the	the	DET
cblr-1719	343	38	factors	factor	NOUN
cblr-1719	343	39	contributing	contribute	VERB
cblr-1719	343	40	to	to	ADP
cblr-1719	343	41	the	the	DET
cblr-1719	343	42	creation	creation	NOUN
cblr-1719	343	43	of	of	ADP
cblr-1719	343	44	such	such	ADJ
cblr-1719	343	45	difference	difference	NOUN
cblr-1719	343	46	.	.	PUNCT
cblr-1719	344	1	iv	iv	X
cblr-1719	344	2	.	.	PUNCT
cblr-1719	345	1	a	a	DET
cblr-1719	345	2	contractarian	contractarian	ADJ
cblr-1719	345	3	view	view	NOUN
cblr-1719	345	4	of	of	ADP
cblr-1719	345	5	the	the	DET
cblr-1719	345	6	current	current	ADJ
cblr-1719	345	7	regime	regime	NOUN
cblr-1719	345	8	the	the	DET
cblr-1719	345	9	most	most	ADV
cblr-1719	345	10	common	common	ADJ
cblr-1719	345	11	challenge	challenge	NOUN
cblr-1719	345	12	associated	associate	VERB
cblr-1719	345	13	with	with	ADP
cblr-1719	345	14	a	a	DET
cblr-1719	345	15	strict	strict	ADJ
cblr-1719	345	16	proportionality	proportionality	NOUN
cblr-1719	345	17	principle	principle	NOUN
cblr-1719	345	18	is	be	AUX
cblr-1719	345	19	the	the	DET
cblr-1719	345	20	contractual	contractual	ADJ
cblr-1719	345	21	freedom	freedom	NOUN
cblr-1719	345	22	of	of	ADP
cblr-1719	345	23	shareholders.106	shareholders.106	PROPN
cblr-1719	345	24	the	the	DET
cblr-1719	345	25	contractarian	contractarian	ADJ
cblr-1719	345	26	theory	theory	NOUN
cblr-1719	345	27	of	of	ADP
cblr-1719	345	28	the	the	DET
cblr-1719	345	29	firm	firm	NOUN
cblr-1719	345	30	views	view	VERB
cblr-1719	345	31	the	the	DET
cblr-1719	345	32	corporation	corporation	NOUN
cblr-1719	345	33	as	as	ADP
cblr-1719	345	34	a	a	DET
cblr-1719	345	35	nexus	nexus	NOUN
cblr-1719	345	36	of	of	ADP
cblr-1719	345	37	contracts	contract	NOUN
cblr-1719	345	38	between	between	ADP
cblr-1719	345	39	stakeholders	stakeholder	NOUN
cblr-1719	345	40	,	,	PUNCT
cblr-1719	345	41	including	include	VERB
cblr-1719	345	42	shareholders	shareholder	NOUN
cblr-1719	345	43	,	,	PUNCT
cblr-1719	345	44	managers	manager	NOUN
cblr-1719	345	45	,	,	PUNCT
cblr-1719	345	46	employees	employee	NOUN
cblr-1719	345	47	,	,	PUNCT
cblr-1719	345	48	creditors	creditor	NOUN
cblr-1719	345	49	,	,	PUNCT
cblr-1719	345	50	and	and	CCONJ
cblr-1719	345	51	others.107	others.107	VERB
cblr-1719	345	52	the	the	DET
cblr-1719	345	53	most	most	ADV
cblr-1719	345	54	important	important	ADJ
cblr-1719	345	55	contractual	contractual	ADJ
cblr-1719	345	56	right	right	NOUN
cblr-1719	345	57	that	that	SCONJ
cblr-1719	345	58	shareholders	shareholder	NOUN
cblr-1719	345	59	have	have	VERB
cblr-1719	345	60	is	be	AUX
cblr-1719	345	61	to	to	PART
cblr-1719	345	62	vote	vote	VERB
cblr-1719	345	63	on	on	ADP
cblr-1719	345	64	corporate	corporate	ADJ
cblr-1719	345	65	matters	matter	NOUN
cblr-1719	345	66	.	.	PUNCT
cblr-1719	346	1	shareholders	shareholder	NOUN
cblr-1719	346	2	should	should	AUX
cblr-1719	346	3	be	be	AUX
cblr-1719	346	4	free	free	ADJ
cblr-1719	346	5	to	to	PART
cblr-1719	346	6	decide	decide	VERB
cblr-1719	346	7	on	on	ADP
cblr-1719	346	8	the	the	DET
cblr-1719	346	9	allocation	allocation	NOUN
cblr-1719	346	10	of	of	ADP
cblr-1719	346	11	corporate	corporate	ADJ
cblr-1719	346	12	control	control	NOUN
cblr-1719	346	13	,	,	PUNCT
cblr-1719	346	14	including	include	VERB
cblr-1719	346	15	limiting	limit	VERB
cblr-1719	346	16	or	or	CCONJ
cblr-1719	346	17	giving	give	VERB
cblr-1719	346	18	up	up	ADP
cblr-1719	346	19	their	their	PRON
cblr-1719	346	20	voting	voting	NOUN
cblr-1719	346	21	rights	right	NOUN
cblr-1719	346	22	and	and	CCONJ
cblr-1719	346	23	control	control	NOUN
cblr-1719	346	24	.	.	PUNCT
cblr-1719	347	1	in	in	ADP
cblr-1719	347	2	an	an	DET
cblr-1719	347	3	efficient	efficient	ADJ
cblr-1719	347	4	market	market	NOUN
cblr-1719	347	5	,	,	PUNCT
cblr-1719	347	6	we	we	PRON
cblr-1719	347	7	shall	shall	AUX
cblr-1719	347	8	see	see	VERB
cblr-1719	347	9	different	different	ADJ
cblr-1719	347	10	allocations	allocation	NOUN
cblr-1719	347	11	of	of	ADP
cblr-1719	347	12	corporate	corporate	ADJ
cblr-1719	347	13	control	control	NOUN
cblr-1719	347	14	in	in	ADP
cblr-1719	347	15	different	different	ADJ
cblr-1719	347	16	firms	firm	NOUN
cblr-1719	347	17	,	,	PUNCT
cblr-1719	347	18	thus	thus	ADV
cblr-1719	347	19	reflecting	reflect	VERB
cblr-1719	347	20	the	the	DET
cblr-1719	347	21	preferences	preference	NOUN
cblr-1719	347	22	of	of	ADP
cblr-1719	347	23	shareholders	shareholder	NOUN
cblr-1719	347	24	and	and	CCONJ
cblr-1719	347	25	the	the	DET
cblr-1719	347	26	characteristics	characteristic	NOUN
cblr-1719	347	27	of	of	ADP
cblr-1719	347	28	individual	individual	ADJ
cblr-1719	347	29	firms	firm	NOUN
cblr-1719	347	30	.	.	PUNCT
cblr-1719	348	1	the	the	DET
cblr-1719	348	2	contractual	contractual	ADJ
cblr-1719	348	3	106	106	NUM
cblr-1719	348	4	to	to	PART
cblr-1719	348	5	narrow	narrow	VERB
cblr-1719	348	6	the	the	DET
cblr-1719	348	7	scope	scope	NOUN
cblr-1719	348	8	of	of	ADP
cblr-1719	348	9	discussion	discussion	NOUN
cblr-1719	348	10	,	,	PUNCT
cblr-1719	348	11	this	this	DET
cblr-1719	348	12	article	article	NOUN
cblr-1719	348	13	only	only	ADV
cblr-1719	348	14	focuses	focus	VERB
cblr-1719	348	15	on	on	ADP
cblr-1719	348	16	the	the	DET
cblr-1719	348	17	deviations	deviation	NOUN
cblr-1719	348	18	stipulated	stipulate	VERB
cblr-1719	348	19	in	in	ADP
cblr-1719	348	20	the	the	DET
cblr-1719	348	21	corporate	corporate	ADJ
cblr-1719	348	22	charters	charter	NOUN
cblr-1719	348	23	that	that	PRON
cblr-1719	348	24	are	be	AUX
cblr-1719	348	25	directly	directly	ADV
cblr-1719	348	26	related	relate	VERB
cblr-1719	348	27	to	to	ADP
cblr-1719	348	28	the	the	DET
cblr-1719	348	29	contractual	contractual	ADJ
cblr-1719	348	30	freedom	freedom	NOUN
cblr-1719	348	31	claim	claim	NOUN
cblr-1719	348	32	,	,	PUNCT
cblr-1719	348	33	such	such	ADJ
cblr-1719	348	34	as	as	ADP
cblr-1719	348	35	dual	dual	ADJ
cblr-1719	348	36	-	-	PUNCT
cblr-1719	348	37	class	class	NOUN
cblr-1719	348	38	shares	share	NOUN
cblr-1719	348	39	,	,	PUNCT
cblr-1719	348	40	priority	priority	NOUN
cblr-1719	348	41	shares	share	NOUN
cblr-1719	348	42	,	,	PUNCT
cblr-1719	348	43	or	or	CCONJ
cblr-1719	348	44	non	non	ADJ
cblr-1719	348	45	-	-	ADJ
cblr-1719	348	46	voting	voting	ADJ
cblr-1719	348	47	shares	share	NOUN
cblr-1719	348	48	.	.	PUNCT
cblr-1719	349	1	107	107	NUM
cblr-1719	349	2	michael	michael	PROPN
cblr-1719	349	3	c.	c.	PROPN
cblr-1719	349	4	jensen	jensen	PROPN
cblr-1719	349	5	&	&	CCONJ
cblr-1719	349	6	william	william	PROPN
cblr-1719	349	7	h.	h.	PROPN
cblr-1719	349	8	meckling	meckling	PROPN
cblr-1719	349	9	,	,	PUNCT
cblr-1719	349	10	theory	theory	NOUN
cblr-1719	349	11	of	of	ADP
cblr-1719	349	12	the	the	DET
cblr-1719	349	13	firm	firm	NOUN
cblr-1719	349	14	:	:	PUNCT
cblr-1719	349	15	managerial	managerial	ADJ
cblr-1719	349	16	behavior	behavior	NOUN
cblr-1719	349	17	,	,	PUNCT
cblr-1719	349	18	agency	agency	NOUN
cblr-1719	349	19	costs	cost	NOUN
cblr-1719	349	20	and	and	CCONJ
cblr-1719	349	21	ownership	ownership	NOUN
cblr-1719	349	22	structure	structure	NOUN
cblr-1719	349	23	,	,	PUNCT
cblr-1719	349	24	3	3	NUM
cblr-1719	349	25	j.	j.	PROPN
cblr-1719	349	26	fin	fin	PROPN
cblr-1719	349	27	.	.	PUNCT
cblr-1719	349	28	econ	econ	PROPN
cblr-1719	349	29	.	.	PUNCT
cblr-1719	350	1	305	305	NUM
cblr-1719	350	2	,	,	PUNCT
cblr-1719	350	3	310–11	310–11	NUM
cblr-1719	350	4	(	(	PUNCT
cblr-1719	350	5	1976	1976	NUM
cblr-1719	350	6	)	)	PUNCT
cblr-1719	350	7	.	.	PUNCT
cblr-1719	351	1	lin	lin	PROPN
cblr-1719	351	2	–	–	PUNCT
cblr-1719	351	3	final	final	ADJ
cblr-1719	351	4	no	no	NOUN
cblr-1719	351	5	.	.	PUNCT
cblr-1719	352	1	2:453	2:453	NUM
cblr-1719	352	2	]	]	X
cblr-1719	352	3	controlling	control	VERB
cblr-1719	352	4	-	-	PUNCT
cblr-1719	352	5	minority	minority	NOUN
cblr-1719	352	6	shareholders	shareholder	NOUN
cblr-1719	352	7	481	481	NUM
cblr-1719	352	8	mechanism	mechanism	NOUN
cblr-1719	352	9	is	be	AUX
cblr-1719	352	10	achieved	achieve	VERB
cblr-1719	352	11	through	through	ADP
cblr-1719	352	12	pricing	pricing	NOUN
cblr-1719	352	13	.	.	PUNCT
cblr-1719	353	1	if	if	SCONJ
cblr-1719	353	2	the	the	DET
cblr-1719	353	3	shareholders	shareholder	NOUN
cblr-1719	353	4	perceive	perceive	VERB
cblr-1719	353	5	high	high	ADJ
cblr-1719	353	6	entrenchment	entrenchment	NOUN
cblr-1719	353	7	costs	cost	NOUN
cblr-1719	353	8	arising	arise	VERB
cblr-1719	353	9	from	from	ADP
cblr-1719	353	10	the	the	DET
cblr-1719	353	11	controlling	control	VERB
cblr-1719	353	12	-	-	PUNCT
cblr-1719	353	13	minority	minority	NOUN
cblr-1719	353	14	structure	structure	NOUN
cblr-1719	353	15	,	,	PUNCT
cblr-1719	353	16	shareholders	shareholder	NOUN
cblr-1719	353	17	would	would	AUX
cblr-1719	353	18	place	place	VERB
cblr-1719	353	19	a	a	DET
cblr-1719	353	20	discount	discount	NOUN
cblr-1719	353	21	on	on	ADP
cblr-1719	353	22	the	the	DET
cblr-1719	353	23	share	share	NOUN
cblr-1719	353	24	price	price	NOUN
cblr-1719	353	25	and	and	CCONJ
cblr-1719	353	26	the	the	DET
cblr-1719	353	27	insiders	insider	NOUN
cblr-1719	353	28	would	would	AUX
cblr-1719	353	29	be	be	AUX
cblr-1719	353	30	penalized	penalize	VERB
cblr-1719	353	31	by	by	ADP
cblr-1719	353	32	such	such	DET
cblr-1719	353	33	a	a	DET
cblr-1719	353	34	discount	discount	NOUN
cblr-1719	353	35	directly	directly	ADV
cblr-1719	353	36	in	in	ADP
cblr-1719	353	37	the	the	DET
cblr-1719	353	38	ipo.108	ipo.108	NOUN
cblr-1719	353	39	however	however	ADV
cblr-1719	353	40	,	,	PUNCT
cblr-1719	353	41	markets	market	NOUN
cblr-1719	353	42	are	be	AUX
cblr-1719	353	43	not	not	PART
cblr-1719	353	44	perfect	perfect	ADJ
cblr-1719	353	45	.	.	PUNCT
cblr-1719	354	1	the	the	DET
cblr-1719	354	2	existing	exist	VERB
cblr-1719	354	3	literature	literature	NOUN
cblr-1719	354	4	has	have	AUX
cblr-1719	354	5	identified	identify	VERB
cblr-1719	354	6	externalities	externality	NOUN
cblr-1719	354	7	in	in	ADP
cblr-1719	354	8	the	the	DET
cblr-1719	354	9	ipo	ipo	NOUN
cblr-1719	354	10	contracting	contracting	NOUN
cblr-1719	354	11	process	process	NOUN
cblr-1719	354	12	and	and	CCONJ
cblr-1719	354	13	has	have	AUX
cblr-1719	354	14	found	find	VERB
cblr-1719	354	15	empirical	empirical	ADJ
cblr-1719	354	16	evidence	evidence	NOUN
cblr-1719	354	17	that	that	PRON
cblr-1719	354	18	counteracts	counteract	VERB
cblr-1719	354	19	the	the	DET
cblr-1719	354	20	notion	notion	NOUN
cblr-1719	354	21	that	that	SCONJ
cblr-1719	354	22	ipo	ipo	PROPN
cblr-1719	354	23	governance	governance	NOUN
cblr-1719	354	24	design	design	NOUN
cblr-1719	354	25	is	be	AUX
cblr-1719	354	26	optimal.109	optimal.109	ADJ
cblr-1719	354	27	furthermore	furthermore	ADV
cblr-1719	354	28	,	,	PUNCT
cblr-1719	354	29	prior	prior	ADJ
cblr-1719	354	30	literature	literature	NOUN
cblr-1719	354	31	has	have	AUX
cblr-1719	354	32	also	also	ADV
cblr-1719	354	33	identified	identify	VERB
cblr-1719	354	34	inefficiencies	inefficiency	NOUN
cblr-1719	354	35	in	in	ADP
cblr-1719	354	36	corporate	corporate	ADJ
cblr-1719	354	37	contracting	contracting	NOUN
cblr-1719	354	38	in	in	ADP
cblr-1719	354	39	the	the	DET
cblr-1719	354	40	post	post	ADJ
cblr-1719	354	41	-	-	ADJ
cblr-1719	354	42	ipo	ipo	ADJ
cblr-1719	354	43	stage	stage	NOUN
cblr-1719	354	44	in	in	ADP
cblr-1719	354	45	a	a	DET
cblr-1719	354	46	widely	widely	ADV
cblr-1719	354	47	-	-	PUNCT
cblr-1719	354	48	held	hold	VERB
cblr-1719	354	49	firm	firm	NOUN
cblr-1719	354	50	and	and	CCONJ
cblr-1719	354	51	called	call	VERB
cblr-1719	354	52	for	for	ADP
cblr-1719	354	53	limits	limit	NOUN
cblr-1719	354	54	to	to	PART
cblr-1719	354	55	contractual	contractual	ADJ
cblr-1719	354	56	freedom	freedom	NOUN
cblr-1719	354	57	post	post	NOUN
cblr-1719	354	58	-	-	NOUN
cblr-1719	354	59	ipo	ipo	NOUN
cblr-1719	354	60	.	.	PUNCT
cblr-1719	355	1	110	110	NUM
cblr-1719	355	2	this	this	DET
cblr-1719	355	3	article	article	NOUN
cblr-1719	355	4	draws	draw	VERB
cblr-1719	355	5	on	on	ADP
cblr-1719	355	6	existing	exist	VERB
cblr-1719	355	7	contractarian	contractarian	ADJ
cblr-1719	355	8	literature	literature	NOUN
cblr-1719	355	9	and	and	CCONJ
cblr-1719	355	10	applies	apply	VERB
cblr-1719	355	11	it	it	PRON
cblr-1719	355	12	to	to	ADP
cblr-1719	355	13	the	the	DET
cblr-1719	355	14	controlling	control	VERB
cblr-1719	355	15	-	-	PUNCT
cblr-1719	355	16	minority	minority	NOUN
cblr-1719	355	17	corporate	corporate	ADJ
cblr-1719	355	18	structure	structure	NOUN
cblr-1719	355	19	with	with	ADP
cblr-1719	355	20	the	the	DET
cblr-1719	355	21	aim	aim	NOUN
cblr-1719	355	22	of	of	ADP
cblr-1719	355	23	reconsidering	reconsider	VERB
cblr-1719	355	24	the	the	DET
cblr-1719	355	25	freedom	freedom	NOUN
cblr-1719	355	26	of	of	ADP
cblr-1719	355	27	contract	contract	NOUN
cblr-1719	355	28	account	account	NOUN
cblr-1719	355	29	and	and	CCONJ
cblr-1719	355	30	identifying	identify	VERB
cblr-1719	355	31	externalities	externality	NOUN
cblr-1719	355	32	in	in	ADP
cblr-1719	355	33	the	the	DET
cblr-1719	355	34	post	post	ADJ
cblr-1719	355	35	-	-	ADJ
cblr-1719	355	36	ipo	ipo	ADJ
cblr-1719	355	37	contracting	contracting	NOUN
cblr-1719	355	38	process	process	NOUN
cblr-1719	355	39	.	.	PUNCT
cblr-1719	356	1	importantly	importantly	ADV
cblr-1719	356	2	,	,	PUNCT
cblr-1719	356	3	this	this	DET
cblr-1719	356	4	article	article	NOUN
cblr-1719	356	5	uncovers	uncover	VERB
cblr-1719	356	6	serious	serious	ADJ
cblr-1719	356	7	pro	pro	ADJ
cblr-1719	356	8	-	-	ADJ
cblr-1719	356	9	insider	insider	ADJ
cblr-1719	356	10	distortions	distortion	NOUN
cblr-1719	356	11	in	in	ADP
cblr-1719	356	12	the	the	DET
cblr-1719	356	13	post	post	ADJ
cblr-1719	356	14	-	-	ADJ
cblr-1719	356	15	ipo	ipo	ADJ
cblr-1719	356	16	stage	stage	NOUN
cblr-1719	356	17	through	through	ADP
cblr-1719	356	18	examples	example	NOUN
cblr-1719	356	19	taken	take	VERB
cblr-1719	356	20	from	from	ADP
cblr-1719	356	21	leveraged	leveraged	ADJ
cblr-1719	356	22	control	control	NOUN
cblr-1719	356	23	firms	firm	NOUN
cblr-1719	356	24	and	and	CCONJ
cblr-1719	356	25	calls	call	VERB
cblr-1719	356	26	for	for	ADP
cblr-1719	356	27	changes	change	NOUN
cblr-1719	356	28	to	to	PART
cblr-1719	356	29	protect	protect	VERB
cblr-1719	356	30	the	the	DET
cblr-1719	356	31	interests	interest	NOUN
cblr-1719	356	32	of	of	ADP
cblr-1719	356	33	outside	outside	ADJ
cblr-1719	356	34	shareholders	shareholder	NOUN
cblr-1719	356	35	.	.	PUNCT
cblr-1719	357	1	a.	a.	NOUN
cblr-1719	357	2	is	be	AUX
cblr-1719	357	3	the	the	DET
cblr-1719	357	4	ipo	ipo	PROPN
cblr-1719	357	5	governance	governance	NOUN
cblr-1719	357	6	design	design	NOUN
cblr-1719	357	7	optimal	optimal	ADJ
cblr-1719	357	8	?	?	PUNCT
cblr-1719	358	1	the	the	DET
cblr-1719	358	2	agency	agency	NOUN
cblr-1719	358	3	relation	relation	NOUN
cblr-1719	358	4	between	between	ADP
cblr-1719	358	5	managers	manager	NOUN
cblr-1719	358	6	and	and	CCONJ
cblr-1719	358	7	shareholders	shareholder	NOUN
cblr-1719	358	8	in	in	ADP
cblr-1719	358	9	a	a	DET
cblr-1719	358	10	dispersed	disperse	VERB
cblr-1719	358	11	-	-	PUNCT
cblr-1719	358	12	ownership	ownership	NOUN
cblr-1719	358	13	firm	firm	NOUN
cblr-1719	358	14	,	,	PUNCT
cblr-1719	358	15	or	or	CCONJ
cblr-1719	358	16	that	that	SCONJ
cblr-1719	358	17	between	between	ADP
cblr-1719	358	18	controlling	control	VERB
cblr-1719	358	19	shareholders	shareholder	NOUN
cblr-1719	358	20	and	and	CCONJ
cblr-1719	358	21	minority	minority	NOUN
cblr-1719	358	22	shareholders	shareholder	NOUN
cblr-1719	358	23	in	in	ADP
cblr-1719	358	24	a	a	DET
cblr-1719	358	25	concentratedownership	concentratedownership	NOUN
cblr-1719	358	26	firm	firm	NOUN
cblr-1719	358	27	,	,	PUNCT
cblr-1719	358	28	is	be	AUX
cblr-1719	358	29	at	at	ADP
cblr-1719	358	30	the	the	DET
cblr-1719	358	31	heart	heart	NOUN
cblr-1719	358	32	of	of	ADP
cblr-1719	358	33	modern	modern	ADJ
cblr-1719	358	34	corporate	corporate	ADJ
cblr-1719	358	35	governance	governance	NOUN
cblr-1719	358	36	theory.111	theory.111	NOUN
cblr-1719	358	37	the	the	DET
cblr-1719	358	38	aim	aim	NOUN
cblr-1719	358	39	of	of	ADP
cblr-1719	358	40	corporate	corporate	ADJ
cblr-1719	358	41	governance	governance	NOUN
cblr-1719	358	42	rules	rule	NOUN
cblr-1719	358	43	108	108	NUM
cblr-1719	358	44	see	see	VERB
cblr-1719	358	45	lucian	lucian	PROPN
cblr-1719	358	46	a.	a.	PROPN
cblr-1719	358	47	bebchuk	bebchuk	PROPN
cblr-1719	358	48	,	,	PUNCT
cblr-1719	358	49	limiting	limit	VERB
cblr-1719	358	50	contractual	contractual	ADJ
cblr-1719	358	51	freedom	freedom	NOUN
cblr-1719	358	52	in	in	ADP
cblr-1719	358	53	corporate	corporate	ADJ
cblr-1719	358	54	law	law	NOUN
cblr-1719	358	55	:	:	PUNCT
cblr-1719	358	56	the	the	DET
cblr-1719	358	57	desirable	desirable	ADJ
cblr-1719	358	58	constraints	constraint	NOUN
cblr-1719	358	59	on	on	ADP
cblr-1719	358	60	charter	charter	NOUN
cblr-1719	358	61	amendments	amendment	NOUN
cblr-1719	358	62	,	,	PUNCT
cblr-1719	358	63	102	102	NUM
cblr-1719	358	64	harv	harv	NOUN
cblr-1719	358	65	.	.	PUNCT
cblr-1719	359	1	l.	l.	PROPN
cblr-1719	359	2	rev	rev	PROPN
cblr-1719	359	3	.	.	PROPN
cblr-1719	359	4	1820	1820	NUM
cblr-1719	359	5	,	,	PUNCT
cblr-1719	359	6	1828–29	1828–29	X
cblr-1719	359	7	(	(	PUNCT
cblr-1719	359	8	1989	1989	NUM
cblr-1719	359	9	)	)	PUNCT
cblr-1719	359	10	.	.	PUNCT
cblr-1719	360	1	109	109	NUM
cblr-1719	360	2	see	see	VERB
cblr-1719	360	3	michael	michael	PROPN
cblr-1719	360	4	klausner	klausner	PROPN
cblr-1719	360	5	,	,	PUNCT
cblr-1719	360	6	corporations	corporation	NOUN
cblr-1719	360	7	,	,	PUNCT
cblr-1719	360	8	corporate	corporate	ADJ
cblr-1719	360	9	law	law	NOUN
cblr-1719	360	10	,	,	PUNCT
cblr-1719	360	11	and	and	CCONJ
cblr-1719	360	12	networks	network	NOUN
cblr-1719	360	13	of	of	ADP
cblr-1719	360	14	contracts	contract	NOUN
cblr-1719	360	15	,	,	PUNCT
cblr-1719	360	16	81	81	NUM
cblr-1719	360	17	va	va	NOUN
cblr-1719	360	18	.	.	PUNCT
cblr-1719	360	19	l.	l.	PROPN
cblr-1719	360	20	rev	rev	PROPN
cblr-1719	360	21	.	.	PROPN
cblr-1719	360	22	757	757	NUM
cblr-1719	360	23	,	,	PUNCT
cblr-1719	360	24	759	759	NUM
cblr-1719	360	25	(	(	PUNCT
cblr-1719	360	26	1995	1995	NUM
cblr-1719	360	27	)	)	PUNCT
cblr-1719	360	28	;	;	PUNCT
cblr-1719	360	29	marcel	marcel	PROPN
cblr-1719	360	30	kahan	kahan	PROPN
cblr-1719	360	31	&	&	CCONJ
cblr-1719	360	32	michael	michael	PROPN
cblr-1719	360	33	klausner	klausner	PROPN
cblr-1719	360	34	,	,	PUNCT
cblr-1719	360	35	standardization	standardization	NOUN
cblr-1719	360	36	and	and	CCONJ
cblr-1719	360	37	innovation	innovation	NOUN
cblr-1719	360	38	in	in	ADP
cblr-1719	360	39	corporate	corporate	ADJ
cblr-1719	360	40	contracting	contracting	NOUN
cblr-1719	360	41	(	(	PUNCT
cblr-1719	360	42	or	or	CCONJ
cblr-1719	360	43	“	"	PUNCT
cblr-1719	360	44	the	the	DET
cblr-1719	360	45	economics	economic	NOUN
cblr-1719	360	46	of	of	ADP
cblr-1719	360	47	boilerplate	boilerplate	NOUN
cblr-1719	360	48	”	"	PUNCT
cblr-1719	360	49	)	)	PUNCT
cblr-1719	360	50	,	,	PUNCT
cblr-1719	360	51	83	83	NUM
cblr-1719	360	52	va	va	NOUN
cblr-1719	360	53	.	.	PUNCT
cblr-1719	360	54	l.	l.	PROPN
cblr-1719	360	55	rev	rev	PROPN
cblr-1719	360	56	.	.	PROPN
cblr-1719	360	57	713	713	NUM
cblr-1719	360	58	,	,	PUNCT
cblr-1719	360	59	717	717	NUM
cblr-1719	360	60	(	(	PUNCT
cblr-1719	360	61	1997	1997	NUM
cblr-1719	360	62	)	)	PUNCT
cblr-1719	360	63	;	;	PUNCT
cblr-1719	360	64	john	john	PROPN
cblr-1719	360	65	c.	c.	PROPN
cblr-1719	360	66	coates	coat	VERB
cblr-1719	360	67	iv	iv	NUM
cblr-1719	360	68	,	,	PUNCT
cblr-1719	360	69	explaining	explain	VERB
cblr-1719	360	70	variation	variation	NOUN
cblr-1719	360	71	in	in	ADP
cblr-1719	360	72	takeover	takeover	NOUN
cblr-1719	360	73	defenses	defense	NOUN
cblr-1719	360	74	:	:	PUNCT
cblr-1719	360	75	blame	blame	VERB
cblr-1719	360	76	the	the	DET
cblr-1719	360	77	lawyers	lawyer	NOUN
cblr-1719	360	78	,	,	PUNCT
cblr-1719	360	79	89	89	NUM
cblr-1719	360	80	cal	cal	NOUN
cblr-1719	360	81	.	.	PUNCT
cblr-1719	361	1	l.	l.	PROPN
cblr-1719	361	2	rev	rev	PROPN
cblr-1719	361	3	.	.	PROPN
cblr-1719	361	4	1301	1301	NUM
cblr-1719	361	5	,	,	PUNCT
cblr-1719	361	6	1385	1385	NUM
cblr-1719	361	7	(	(	PUNCT
cblr-1719	361	8	2001	2001	NUM
cblr-1719	361	9	)	)	PUNCT
cblr-1719	361	10	.	.	PUNCT
cblr-1719	362	1	for	for	ADP
cblr-1719	362	2	empirical	empirical	ADJ
cblr-1719	362	3	studies	study	NOUN
cblr-1719	362	4	,	,	PUNCT
cblr-1719	362	5	see	see	VERB
cblr-1719	362	6	infra	infra	NOUN
cblr-1719	362	7	note	note	VERB
cblr-1719	362	8	121	121	NUM
cblr-1719	362	9	.	.	PUNCT
cblr-1719	363	1	110	110	NUM
cblr-1719	363	2	see	see	VERB
cblr-1719	363	3	bebchuk	bebchuk	NOUN
cblr-1719	363	4	,	,	PUNCT
cblr-1719	363	5	supra	supra	PROPN
cblr-1719	363	6	note	note	PROPN
cblr-1719	363	7	108	108	NUM
cblr-1719	363	8	,	,	PUNCT
cblr-1719	363	9	at	at	ADP
cblr-1719	363	10	1827–29	1827–29	NUM
cblr-1719	363	11	.	.	PUNCT
cblr-1719	364	1	111	111	NUM
cblr-1719	364	2	jensen	jensen	PROPN
cblr-1719	364	3	&	&	CCONJ
cblr-1719	364	4	meckling	meckling	PROPN
cblr-1719	364	5	,	,	PUNCT
cblr-1719	364	6	supra	supra	PROPN
cblr-1719	364	7	note	note	VERB
cblr-1719	364	8	107	107	NUM
cblr-1719	364	9	,	,	PUNCT
cblr-1719	364	10	at	at	ADP
cblr-1719	364	11	308–10	308–10	NOUN
cblr-1719	364	12	.	.	PUNCT
cblr-1719	365	1	lin	lin	PROPN
cblr-1719	365	2	–	–	PUNCT
cblr-1719	365	3	final	final	ADJ
cblr-1719	365	4	482	482	NUM
cblr-1719	365	5	columbia	columbia	PROPN
cblr-1719	365	6	business	business	PROPN
cblr-1719	365	7	law	law	PROPN
cblr-1719	365	8	review	review	NOUN
cblr-1719	365	9	[	[	X
cblr-1719	365	10	vol	vol	NOUN
cblr-1719	365	11	.	.	NOUN
cblr-1719	365	12	2017	2017	NUM
cblr-1719	365	13	is	be	AUX
cblr-1719	365	14	to	to	PART
cblr-1719	365	15	minimize	minimize	VERB
cblr-1719	365	16	agency	agency	NOUN
cblr-1719	365	17	costs	cost	NOUN
cblr-1719	365	18	and	and	CCONJ
cblr-1719	365	19	maximize	maximize	VERB
cblr-1719	365	20	shareholder	shareholder	NOUN
cblr-1719	365	21	value.112	value.112	ADP
cblr-1719	365	22	the	the	DET
cblr-1719	365	23	contractarian	contractarian	ADJ
cblr-1719	365	24	view	view	NOUN
cblr-1719	365	25	of	of	ADP
cblr-1719	365	26	corporate	corporate	ADJ
cblr-1719	365	27	law	law	NOUN
cblr-1719	365	28	characterizes	characterize	VERB
cblr-1719	365	29	a	a	DET
cblr-1719	365	30	corporate	corporate	ADJ
cblr-1719	365	31	charter	charter	NOUN
cblr-1719	365	32	as	as	ADP
cblr-1719	365	33	a	a	DET
cblr-1719	365	34	contract	contract	NOUN
cblr-1719	365	35	between	between	ADP
cblr-1719	365	36	the	the	DET
cblr-1719	365	37	firm	firm	NOUN
cblr-1719	365	38	,	,	PUNCT
cblr-1719	365	39	its	its	PRON
cblr-1719	365	40	controllers	controller	NOUN
cblr-1719	365	41	(	(	PUNCT
cblr-1719	365	42	managers	manager	NOUN
cblr-1719	365	43	or	or	CCONJ
cblr-1719	365	44	controlling	control	VERB
cblr-1719	365	45	shareholders	shareholder	NOUN
cblr-1719	365	46	)	)	PUNCT
cblr-1719	365	47	,	,	PUNCT
cblr-1719	365	48	and	and	CCONJ
cblr-1719	365	49	outside	outside	ADJ
cblr-1719	365	50	shareholders	shareholder	NOUN
cblr-1719	365	51	.	.	PUNCT
cblr-1719	366	1	the	the	DET
cblr-1719	366	2	contractual	contractual	ADJ
cblr-1719	366	3	agreement	agreement	NOUN
cblr-1719	366	4	is	be	AUX
cblr-1719	366	5	formed	form	VERB
cblr-1719	366	6	through	through	ADP
cblr-1719	366	7	pricing.113	pricing.113	PROPN
cblr-1719	366	8	the	the	DET
cblr-1719	366	9	price	price	NOUN
cblr-1719	366	10	of	of	ADP
cblr-1719	366	11	a	a	DET
cblr-1719	366	12	stock	stock	NOUN
cblr-1719	366	13	reflects	reflect	VERB
cblr-1719	366	14	the	the	DET
cblr-1719	366	15	quality	quality	NOUN
cblr-1719	366	16	of	of	ADP
cblr-1719	366	17	the	the	DET
cblr-1719	366	18	corporate	corporate	ADJ
cblr-1719	366	19	governance	governance	NOUN
cblr-1719	366	20	rules	rule	NOUN
cblr-1719	366	21	and	and	CCONJ
cblr-1719	366	22	the	the	DET
cblr-1719	366	23	extent	extent	NOUN
cblr-1719	366	24	to	to	PART
cblr-1719	366	25	which	which	PRON
cblr-1719	366	26	these	these	DET
cblr-1719	366	27	rules	rule	NOUN
cblr-1719	366	28	reduce	reduce	VERB
cblr-1719	366	29	agency	agency	NOUN
cblr-1719	366	30	costs	cost	NOUN
cblr-1719	366	31	and	and	CCONJ
cblr-1719	366	32	maximize	maximize	VERB
cblr-1719	366	33	firm	firm	ADJ
cblr-1719	366	34	value.114	value.114	NOUN
cblr-1719	366	35	this	this	DET
cblr-1719	366	36	theory	theory	NOUN
cblr-1719	366	37	predicts	predict	VERB
cblr-1719	366	38	that	that	SCONJ
cblr-1719	366	39	when	when	SCONJ
cblr-1719	366	40	firms	firm	NOUN
cblr-1719	366	41	go	go	VERB
cblr-1719	366	42	public	public	ADJ
cblr-1719	366	43	,	,	PUNCT
cblr-1719	366	44	they	they	PRON
cblr-1719	366	45	will	will	AUX
cblr-1719	366	46	adopt	adopt	VERB
cblr-1719	366	47	a	a	DET
cblr-1719	366	48	set	set	NOUN
cblr-1719	366	49	of	of	ADP
cblr-1719	366	50	optimal	optimal	ADJ
cblr-1719	366	51	governance	governance	NOUN
cblr-1719	366	52	rules	rule	NOUN
cblr-1719	366	53	in	in	ADP
cblr-1719	366	54	their	their	PRON
cblr-1719	366	55	ipo	ipo	NOUN
cblr-1719	366	56	charters	charter	NOUN
cblr-1719	366	57	in	in	ADP
cblr-1719	366	58	order	order	NOUN
cblr-1719	366	59	to	to	PART
cblr-1719	366	60	be	be	AUX
cblr-1719	366	61	competitive	competitive	ADJ
cblr-1719	366	62	in	in	ADP
cblr-1719	366	63	obtaining	obtain	VERB
cblr-1719	366	64	external	external	ADJ
cblr-1719	366	65	finance	finance	NOUN
cblr-1719	366	66	.	.	PUNCT
cblr-1719	367	1	preipo	preipo	NOUN
cblr-1719	367	2	shareholders	shareholder	NOUN
cblr-1719	367	3	would	would	AUX
cblr-1719	367	4	bear	bear	VERB
cblr-1719	367	5	the	the	DET
cblr-1719	367	6	cost	cost	NOUN
cblr-1719	367	7	of	of	ADP
cblr-1719	367	8	any	any	DET
cblr-1719	367	9	price	price	NOUN
cblr-1719	367	10	discount	discount	NOUN
cblr-1719	367	11	if	if	SCONJ
cblr-1719	367	12	outside	outside	ADJ
cblr-1719	367	13	investors	investor	NOUN
cblr-1719	367	14	were	be	AUX
cblr-1719	367	15	to	to	PART
cblr-1719	367	16	price	price	VERB
cblr-1719	367	17	the	the	DET
cblr-1719	367	18	shares	share	NOUN
cblr-1719	367	19	lower	low	ADJ
cblr-1719	367	20	for	for	ADP
cblr-1719	367	21	bad	bad	ADJ
cblr-1719	367	22	corporate	corporate	ADJ
cblr-1719	367	23	governance	governance	NOUN
cblr-1719	367	24	design.115	design.115	PROPN
cblr-1719	367	25	therefore	therefore	ADV
cblr-1719	367	26	,	,	PUNCT
cblr-1719	367	27	provisions	provision	NOUN
cblr-1719	367	28	that	that	PRON
cblr-1719	367	29	would	would	AUX
cblr-1719	367	30	decrease	decrease	VERB
cblr-1719	367	31	shareholder	shareholder	NOUN
cblr-1719	367	32	value	value	NOUN
cblr-1719	367	33	are	be	AUX
cblr-1719	367	34	not	not	PART
cblr-1719	367	35	expected	expect	VERB
cblr-1719	367	36	to	to	PART
cblr-1719	367	37	be	be	AUX
cblr-1719	367	38	included	include	VERB
cblr-1719	367	39	in	in	ADP
cblr-1719	367	40	ipo	ipo	PROPN
cblr-1719	367	41	charters	charter	NOUN
cblr-1719	367	42	.	.	PUNCT
cblr-1719	368	1	116	116	NUM
cblr-1719	368	2	the	the	DET
cblr-1719	368	3	contractarian	contractarian	ADJ
cblr-1719	368	4	theory	theory	NOUN
cblr-1719	368	5	provides	provide	VERB
cblr-1719	368	6	a	a	DET
cblr-1719	368	7	powerful	powerful	ADJ
cblr-1719	368	8	normative	normative	ADJ
cblr-1719	368	9	claim	claim	NOUN
cblr-1719	368	10	for	for	ADP
cblr-1719	368	11	what	what	PRON
cblr-1719	368	12	ipo	ipo	NOUN
cblr-1719	368	13	charters	charter	NOUN
cblr-1719	368	14	should	should	AUX
cblr-1719	368	15	look	look	VERB
cblr-1719	368	16	like	like	ADP
cblr-1719	368	17	.	.	PUNCT
cblr-1719	369	1	similar	similar	ADJ
cblr-1719	369	2	to	to	ADP
cblr-1719	369	3	other	other	ADJ
cblr-1719	369	4	theoretical	theoretical	ADJ
cblr-1719	369	5	claims	claim	NOUN
cblr-1719	369	6	,	,	PUNCT
cblr-1719	369	7	contractarian	contractarian	ADJ
cblr-1719	369	8	theory	theory	NOUN
cblr-1719	369	9	is	be	AUX
cblr-1719	369	10	based	base	VERB
cblr-1719	369	11	on	on	ADP
cblr-1719	369	12	the	the	DET
cblr-1719	369	13	assumption	assumption	NOUN
cblr-1719	369	14	of	of	ADP
cblr-1719	369	15	a	a	DET
cblr-1719	369	16	perfect	perfect	ADJ
cblr-1719	369	17	market	market	NOUN
cblr-1719	369	18	in	in	ADP
cblr-1719	369	19	which	which	PRON
cblr-1719	369	20	there	there	PRON
cblr-1719	369	21	are	be	VERB
cblr-1719	369	22	no	no	DET
cblr-1719	369	23	transaction	transaction	NOUN
cblr-1719	369	24	costs	cost	NOUN
cblr-1719	369	25	or	or	CCONJ
cblr-1719	369	26	other	other	ADJ
cblr-1719	369	27	market	market	NOUN
cblr-1719	369	28	imperfections	imperfection	NOUN
cblr-1719	369	29	.	.	PUNCT
cblr-1719	370	1	even	even	ADV
cblr-1719	370	2	if	if	SCONJ
cblr-1719	370	3	there	there	PRON
cblr-1719	370	4	were	be	VERB
cblr-1719	370	5	,	,	PUNCT
cblr-1719	370	6	they	they	PRON
cblr-1719	370	7	would	would	AUX
cblr-1719	370	8	only	only	ADV
cblr-1719	370	9	be	be	AUX
cblr-1719	370	10	the	the	DET
cblr-1719	370	11	drafting	drafting	NOUN
cblr-1719	370	12	costs	cost	NOUN
cblr-1719	370	13	for	for	ADP
cblr-1719	370	14	corporate	corporate	ADJ
cblr-1719	370	15	charters	charter	NOUN
cblr-1719	370	16	,	,	PUNCT
cblr-1719	370	17	which	which	PRON
cblr-1719	370	18	should	should	AUX
cblr-1719	370	19	be	be	AUX
cblr-1719	370	20	modest.117	modest.117	VERB
cblr-1719	370	21	in	in	ADP
cblr-1719	370	22	reality	reality	NOUN
cblr-1719	370	23	,	,	PUNCT
cblr-1719	370	24	market	market	NOUN
cblr-1719	370	25	imperfections	imperfection	NOUN
cblr-1719	370	26	are	be	AUX
cblr-1719	370	27	more	more	ADV
cblr-1719	370	28	complex	complex	ADJ
cblr-1719	370	29	and	and	CCONJ
cblr-1719	370	30	prevalent	prevalent	ADJ
cblr-1719	370	31	than	than	ADP
cblr-1719	370	32	the	the	DET
cblr-1719	370	33	contractarian	contractarian	ADJ
cblr-1719	370	34	theory	theory	NOUN
cblr-1719	370	35	posits.118	posits.118	PROPN
cblr-1719	370	36	scholars	scholar	NOUN
cblr-1719	370	37	have	have	AUX
cblr-1719	370	38	identified	identify	VERB
cblr-1719	370	39	the	the	DET
cblr-1719	370	40	network	network	NOUN
cblr-1719	370	41	externalities	externality	NOUN
cblr-1719	370	42	of	of	ADP
cblr-1719	370	43	corporate	corporate	ADJ
cblr-1719	370	44	contracting	contracting	NOUN
cblr-1719	370	45	as	as	ADP
cblr-1719	370	46	one	one	NUM
cblr-1719	370	47	of	of	ADP
cblr-1719	370	48	the	the	DET
cblr-1719	370	49	impediments	impediment	NOUN
cblr-1719	370	50	to	to	ADP
cblr-1719	370	51	the	the	DET
cblr-1719	370	52	optimal	optimal	ADJ
cblr-1719	370	53	ipo	ipo	NOUN
cblr-1719	370	54	charter	charter	NOUN
cblr-1719	370	55	predicted	predict	VERB
cblr-1719	370	56	by	by	ADP
cblr-1719	370	57	the	the	DET
cblr-1719	370	58	contractarian	contractarian	ADJ
cblr-1719	370	59	112	112	NUM
cblr-1719	370	60	i	i	PRON
cblr-1719	370	61	d.	d.	PROPN
cblr-1719	370	62	at	at	ADP
cblr-1719	370	63	309–10	309–10	PROPN
cblr-1719	370	64	.	.	PROPN
cblr-1719	370	65	113	113	NUM
cblr-1719	370	66	easterbrook	easterbrook	PROPN
cblr-1719	370	67	&	&	CCONJ
cblr-1719	370	68	fischel	fischel	PROPN
cblr-1719	370	69	,	,	PUNCT
cblr-1719	370	70	supra	supra	PROPN
cblr-1719	370	71	note	note	NOUN
cblr-1719	370	72	2	2	NUM
cblr-1719	370	73	,	,	PUNCT
cblr-1719	370	74	at	at	ADP
cblr-1719	370	75	15–22	15–22	NUM
cblr-1719	370	76	;	;	PUNCT
cblr-1719	370	77	michael	michael	PROPN
cblr-1719	370	78	klausner	klausner	PROPN
cblr-1719	370	79	,	,	PUNCT
cblr-1719	370	80	fact	fact	NOUN
cblr-1719	370	81	and	and	CCONJ
cblr-1719	370	82	fiction	fiction	NOUN
cblr-1719	370	83	in	in	ADP
cblr-1719	370	84	corporate	corporate	ADJ
cblr-1719	370	85	law	law	NOUN
cblr-1719	370	86	and	and	CCONJ
cblr-1719	370	87	governance	governance	NOUN
cblr-1719	370	88	,	,	PUNCT
cblr-1719	370	89	65	65	NUM
cblr-1719	370	90	stan	stan	PROPN
cblr-1719	370	91	.	.	PUNCT
cblr-1719	371	1	l.	l.	PROPN
cblr-1719	371	2	rev	rev	PROPN
cblr-1719	371	3	.	.	PROPN
cblr-1719	371	4	1325	1325	NUM
cblr-1719	371	5	,	,	PUNCT
cblr-1719	371	6	1332	1332	NUM
cblr-1719	371	7	(	(	PUNCT
cblr-1719	371	8	2013	2013	NUM
cblr-1719	371	9	)	)	PUNCT
cblr-1719	371	10	.	.	PUNCT
cblr-1719	372	1	114	114	NUM
cblr-1719	372	2	easterbrook	easterbrook	PROPN
cblr-1719	372	3	&	&	CCONJ
cblr-1719	372	4	fischel	fischel	PROPN
cblr-1719	372	5	,	,	PUNCT
cblr-1719	372	6	supra	supra	PROPN
cblr-1719	372	7	note	note	NOUN
cblr-1719	372	8	2	2	NUM
cblr-1719	372	9	,	,	PUNCT
cblr-1719	372	10	at	at	ADP
cblr-1719	372	11	17–19	17–19	NUM
cblr-1719	372	12	.	.	PUNCT
cblr-1719	372	13	115	115	NUM
cblr-1719	373	1	i	i	PRON
cblr-1719	373	2	d.	d.	PROPN
cblr-1719	373	3	at	at	ADP
cblr-1719	373	4	17–19	17–19	NUM
cblr-1719	373	5	.	.	PUNCT
cblr-1719	374	1	116	116	NUM
cblr-1719	375	1	i	i	PRON
cblr-1719	375	2	d.	d.	VERB
cblr-1719	375	3	at	at	ADP
cblr-1719	375	4	204–05	204–05	NUM
cblr-1719	375	5	;	;	PUNCT
cblr-1719	375	6	klausner	klausner	PROPN
cblr-1719	375	7	,	,	PUNCT
cblr-1719	375	8	supra	supra	PROPN
cblr-1719	375	9	note	note	PROPN
cblr-1719	375	10	113	113	NUM
cblr-1719	375	11	,	,	PUNCT
cblr-1719	375	12	at	at	ADP
cblr-1719	375	13	1332–33	1332–33	PROPN
cblr-1719	375	14	.	.	PUNCT
cblr-1719	376	1	117	117	NUM
cblr-1719	376	2	klausner	klausner	PROPN
cblr-1719	376	3	,	,	PUNCT
cblr-1719	376	4	supra	supra	PROPN
cblr-1719	376	5	note	note	PROPN
cblr-1719	376	6	113	113	NUM
cblr-1719	376	7	,	,	PUNCT
cblr-1719	376	8	at	at	ADP
cblr-1719	376	9	1330	1330	NUM
cblr-1719	376	10	.	.	PUNCT
cblr-1719	377	1	118	118	NUM
cblr-1719	378	1	i	i	NOUN
cblr-1719	378	2	d.	d.	PROPN
cblr-1719	378	3	at	at	ADP
cblr-1719	378	4	1330	1330	NUM
cblr-1719	378	5	;	;	PUNCT
cblr-1719	378	6	michael	michael	PROPN
cblr-1719	378	7	klausner	klausner	PROPN
cblr-1719	378	8	,	,	PUNCT
cblr-1719	378	9	the	the	DET
cblr-1719	378	10	contractarian	contractarian	ADJ
cblr-1719	378	11	theory	theory	NOUN
cblr-1719	378	12	of	of	ADP
cblr-1719	378	13	corporate	corporate	ADJ
cblr-1719	378	14	law	law	NOUN
cblr-1719	378	15	:	:	PUNCT
cblr-1719	378	16	a	a	DET
cblr-1719	378	17	generation	generation	NOUN
cblr-1719	378	18	later	later	ADV
cblr-1719	378	19	,	,	PUNCT
cblr-1719	378	20	31	31	NUM
cblr-1719	378	21	j.	j.	PROPN
cblr-1719	378	22	corp	corp	PROPN
cblr-1719	378	23	.	.	PROPN
cblr-1719	378	24	l.	l.	PROPN
cblr-1719	378	25	779	779	NUM
cblr-1719	378	26	,	,	PUNCT
cblr-1719	378	27	779	779	NUM
cblr-1719	378	28	(	(	PUNCT
cblr-1719	378	29	2006	2006	NUM
cblr-1719	378	30	)	)	PUNCT
cblr-1719	378	31	.	.	PUNCT
cblr-1719	379	1	lin	lin	PROPN
cblr-1719	379	2	–	–	PUNCT
cblr-1719	379	3	final	final	ADJ
cblr-1719	379	4	no	no	NOUN
cblr-1719	379	5	.	.	PUNCT
cblr-1719	380	1	2:453	2:453	NUM
cblr-1719	380	2	]	]	X
cblr-1719	380	3	controlling	control	VERB
cblr-1719	380	4	-	-	PUNCT
cblr-1719	380	5	minority	minority	NOUN
cblr-1719	380	6	shareholders	shareholder	NOUN
cblr-1719	380	7	483	483	NUM
cblr-1719	380	8	theorists.119	theorists.119	NOUN
cblr-1719	380	9	in	in	ADP
cblr-1719	380	10	practice	practice	NOUN
cblr-1719	380	11	,	,	PUNCT
cblr-1719	380	12	firms	firm	NOUN
cblr-1719	380	13	adopt	adopt	VERB
cblr-1719	380	14	boilerplate	boilerplate	ADJ
cblr-1719	380	15	charter	charter	NOUN
cblr-1719	380	16	provisions	provision	NOUN
cblr-1719	380	17	to	to	PART
cblr-1719	380	18	avoid	avoid	VERB
cblr-1719	380	19	the	the	DET
cblr-1719	380	20	legal	legal	ADJ
cblr-1719	380	21	uncertainty	uncertainty	NOUN
cblr-1719	380	22	of	of	ADP
cblr-1719	380	23	adopting	adopt	VERB
cblr-1719	380	24	innovative	innovative	ADJ
cblr-1719	380	25	and	and	CCONJ
cblr-1719	380	26	customized	customized	ADJ
cblr-1719	380	27	provisions	provision	NOUN
cblr-1719	380	28	that	that	PRON
cblr-1719	380	29	are	be	AUX
cblr-1719	380	30	best	well	ADV
cblr-1719	380	31	suited	suited	ADJ
cblr-1719	380	32	to	to	ADP
cblr-1719	380	33	their	their	PRON
cblr-1719	380	34	firms.120	firms.120	ADJ
cblr-1719	380	35	empirical	empirical	ADJ
cblr-1719	380	36	studies	study	NOUN
cblr-1719	380	37	also	also	ADV
cblr-1719	380	38	provide	provide	VERB
cblr-1719	380	39	evidence	evidence	NOUN
cblr-1719	380	40	that	that	SCONJ
cblr-1719	380	41	firms	firm	NOUN
cblr-1719	380	42	do	do	AUX
cblr-1719	380	43	not	not	PART
cblr-1719	380	44	always	always	ADV
cblr-1719	380	45	adopt	adopt	VERB
cblr-1719	380	46	value	value	NOUN
cblr-1719	380	47	-	-	PUNCT
cblr-1719	380	48	enhancing	enhance	VERB
cblr-1719	380	49	provisions	provision	NOUN
cblr-1719	380	50	in	in	ADP
cblr-1719	380	51	their	their	PRON
cblr-1719	380	52	ipo	ipo	NOUN
cblr-1719	380	53	charters	charter	NOUN
cblr-1719	380	54	.	.	PUNCT
cblr-1719	381	1	instead	instead	ADV
cblr-1719	381	2	,	,	PUNCT
cblr-1719	381	3	ipo	ipo	PROPN
cblr-1719	381	4	charters	charter	NOUN
cblr-1719	381	5	commonly	commonly	ADV
cblr-1719	381	6	include	include	VERB
cblr-1719	381	7	a	a	DET
cblr-1719	381	8	staggered	staggered	ADJ
cblr-1719	381	9	board	board	NOUN
cblr-1719	381	10	,	,	PUNCT
cblr-1719	381	11	which	which	PRON
cblr-1719	381	12	is	be	AUX
cblr-1719	381	13	a	a	DET
cblr-1719	381	14	takeover	takeover	NOUN
cblr-1719	381	15	defense	defense	NOUN
cblr-1719	381	16	that	that	PRON
cblr-1719	381	17	is	be	AUX
cblr-1719	381	18	considered	consider	VERB
cblr-1719	381	19	to	to	PART
cblr-1719	381	20	be	be	AUX
cblr-1719	381	21	value	value	NOUN
cblr-1719	381	22	-	-	PUNCT
cblr-1719	381	23	decreasing.121	decreasing.121	VERB
cblr-1719	381	24	from	from	ADP
cblr-1719	381	25	an	an	DET
cblr-1719	381	26	agency	agency	NOUN
cblr-1719	381	27	theory	theory	NOUN
cblr-1719	381	28	perspective	perspective	NOUN
cblr-1719	381	29	,	,	PUNCT
cblr-1719	381	30	one	one	NUM
cblr-1719	381	31	-	-	PUNCT
cblr-1719	381	32	share	share	NOUN
cblr-1719	381	33	one	one	NUM
cblr-1719	381	34	-	-	PUNCT
cblr-1719	381	35	vote	vote	NOUN
cblr-1719	381	36	is	be	AUX
cblr-1719	381	37	an	an	DET
cblr-1719	381	38	efficient	efficient	ADJ
cblr-1719	381	39	allocation	allocation	NOUN
cblr-1719	381	40	of	of	ADP
cblr-1719	381	41	corporate	corporate	ADJ
cblr-1719	381	42	control	control	NOUN
cblr-1719	381	43	because	because	SCONJ
cblr-1719	381	44	shareholders	shareholder	NOUN
cblr-1719	381	45	are	be	AUX
cblr-1719	381	46	the	the	DET
cblr-1719	381	47	only	only	ADJ
cblr-1719	381	48	group	group	NOUN
cblr-1719	381	49	of	of	ADP
cblr-1719	381	50	corporate	corporate	ADJ
cblr-1719	381	51	stakeholders	stakeholder	NOUN
cblr-1719	381	52	who	who	PRON
cblr-1719	381	53	bear	bear	VERB
cblr-1719	381	54	the	the	DET
cblr-1719	381	55	risks	risk	NOUN
cblr-1719	381	56	of	of	ADP
cblr-1719	381	57	bad	bad	ADJ
cblr-1719	381	58	decisions	decision	NOUN
cblr-1719	381	59	and	and	CCONJ
cblr-1719	381	60	have	have	VERB
cblr-1719	381	61	the	the	DET
cblr-1719	381	62	right	right	ADJ
cblr-1719	381	63	incentives	incentive	NOUN
cblr-1719	381	64	to	to	PART
cblr-1719	381	65	make	make	VERB
cblr-1719	381	66	discretionary	discretionary	ADJ
cblr-1719	381	67	decisions.122	decisions.122	NOUN
cblr-1719	381	68	mechanisms	mechanism	NOUN
cblr-1719	381	69	that	that	PRON
cblr-1719	381	70	create	create	VERB
cblr-1719	381	71	deviations	deviation	NOUN
cblr-1719	381	72	from	from	ADP
cblr-1719	381	73	the	the	DET
cblr-1719	381	74	one	one	NUM
cblr-1719	381	75	-	-	PUNCT
cblr-1719	381	76	share	share	NOUN
cblr-1719	381	77	one	one	NUM
cblr-1719	381	78	-	-	PUNCT
cblr-1719	381	79	vote	vote	NOUN
cblr-1719	381	80	rule	rule	NOUN
cblr-1719	381	81	would	would	AUX
cblr-1719	381	82	result	result	VERB
cblr-1719	381	83	in	in	ADP
cblr-1719	381	84	greater	great	ADJ
cblr-1719	381	85	entrenchment	entrenchment	ADJ
cblr-1719	381	86	agency	agency	NOUN
cblr-1719	381	87	costs	cost	NOUN
cblr-1719	381	88	by	by	ADP
cblr-1719	381	89	insulating	insulate	VERB
cblr-1719	381	90	managers	manager	NOUN
cblr-1719	381	91	from	from	ADP
cblr-1719	381	92	the	the	DET
cblr-1719	381	93	market	market	NOUN
cblr-1719	381	94	for	for	ADP
cblr-1719	381	95	corporate	corporate	ADJ
cblr-1719	381	96	control.123	control.123	NOUN
cblr-1719	381	97	controlling	controlling	NOUN
cblr-1719	381	98	-	-	PUNCT
cblr-1719	381	99	minority	minority	NOUN
cblr-1719	381	100	shareholders	shareholder	NOUN
cblr-1719	381	101	not	not	PART
cblr-1719	381	102	only	only	ADV
cblr-1719	381	103	have	have	VERB
cblr-1719	381	104	the	the	DET
cblr-1719	381	105	incentive	incentive	NOUN
cblr-1719	381	106	,	,	PUNCT
cblr-1719	381	107	but	but	CCONJ
cblr-1719	381	108	also	also	ADV
cblr-1719	381	109	the	the	DET
cblr-1719	381	110	ability	ability	NOUN
cblr-1719	381	111	,	,	PUNCT
cblr-1719	381	112	to	to	PART
cblr-1719	381	113	extract	extract	VERB
cblr-1719	381	114	private	private	ADJ
cblr-1719	381	115	benefits	benefit	NOUN
cblr-1719	381	116	at	at	ADP
cblr-1719	381	117	the	the	DET
cblr-1719	381	118	expense	expense	NOUN
cblr-1719	381	119	of	of	ADP
cblr-1719	381	120	outside	outside	ADJ
cblr-1719	381	121	shareholders.124	shareholders.124	NOUN
cblr-1719	381	122	from	from	ADP
cblr-1719	381	123	a	a	DET
cblr-1719	381	124	contractarian	contractarian	ADJ
cblr-1719	381	125	theorist	theorist	NOUN
cblr-1719	381	126	’s	’s	PART
cblr-1719	381	127	point	point	NOUN
cblr-1719	381	128	of	of	ADP
cblr-1719	381	129	view	view	NOUN
cblr-1719	381	130	,	,	PUNCT
cblr-1719	381	131	mechanisms	mechanism	NOUN
cblr-1719	381	132	that	that	PRON
cblr-1719	381	133	offer	offer	VERB
cblr-1719	381	134	shareholders	shareholder	NOUN
cblr-1719	381	135	leveraged	leveraged	ADJ
cblr-1719	381	136	control	control	NOUN
cblr-1719	381	137	are	be	AUX
cblr-1719	381	138	not	not	PART
cblr-1719	381	139	desirable	desirable	ADJ
cblr-1719	381	140	in	in	ADP
cblr-1719	381	141	ipo	ipo	PROPN
cblr-1719	381	142	charters	charter	NOUN
cblr-1719	381	143	.	.	PUNCT
cblr-1719	382	1	however	however	ADV
cblr-1719	382	2	,	,	PUNCT
cblr-1719	382	3	as	as	SCONJ
cblr-1719	382	4	mentioned	mention	VERB
cblr-1719	382	5	earlier	early	ADV
cblr-1719	382	6	,	,	PUNCT
cblr-1719	382	7	leveraged	leveraged	ADJ
cblr-1719	382	8	control	control	NOUN
cblr-1719	382	9	mechanisms	mechanism	NOUN
cblr-1719	382	10	among	among	ADP
cblr-1719	382	11	european	european	ADJ
cblr-1719	382	12	and	and	CCONJ
cblr-1719	382	13	east	east	ADJ
cblr-1719	382	14	asian	asian	ADJ
cblr-1719	382	15	firms	firm	NOUN
cblr-1719	382	16	are	be	AUX
cblr-1719	382	17	119	119	NUM
cblr-1719	382	18	klausner	klausner	NOUN
cblr-1719	382	19	,	,	PUNCT
cblr-1719	382	20	supra	supra	PROPN
cblr-1719	382	21	note	note	PROPN
cblr-1719	382	22	109	109	NUM
cblr-1719	382	23	,	,	PUNCT
cblr-1719	382	24	at	at	ADP
cblr-1719	382	25	785–86	785–86	NUM
cblr-1719	382	26	.	.	PUNCT
cblr-1719	383	1	120	120	NUM
cblr-1719	383	2	kahan	kahan	PROPN
cblr-1719	383	3	&	&	CCONJ
cblr-1719	383	4	klausner	klausner	PROPN
cblr-1719	383	5	,	,	PUNCT
cblr-1719	383	6	supra	supra	PROPN
cblr-1719	383	7	note	note	PROPN
cblr-1719	383	8	109	109	NUM
cblr-1719	383	9	,	,	PUNCT
cblr-1719	383	10	at	at	ADP
cblr-1719	383	11	718–24	718–24	PROPN
cblr-1719	383	12	.	.	PUNCT
cblr-1719	383	13	121	121	NUM
cblr-1719	383	14	robert	robert	PROPN
cblr-1719	383	15	daines	daines	PROPN
cblr-1719	383	16	&	&	CCONJ
cblr-1719	383	17	michael	michael	PROPN
cblr-1719	383	18	klausner	klausner	PROPN
cblr-1719	383	19	,	,	PUNCT
cblr-1719	383	20	do	do	AUX
cblr-1719	383	21	ipo	ipo	NOUN
cblr-1719	383	22	charters	charter	NOUN
cblr-1719	383	23	maximize	maximize	VERB
cblr-1719	383	24	firm	firm	ADJ
cblr-1719	383	25	value	value	NOUN
cblr-1719	383	26	?	?	PUNCT
cblr-1719	384	1	antitakeover	antitakeover	ADJ
cblr-1719	384	2	protection	protection	NOUN
cblr-1719	384	3	in	in	ADP
cblr-1719	384	4	ipos	ipos	PROPN
cblr-1719	384	5	,	,	PUNCT
cblr-1719	384	6	17	17	NUM
cblr-1719	384	7	j.l	j.l	PROPN
cblr-1719	384	8	.	.	PROPN
cblr-1719	384	9	econ	econ	PROPN
cblr-1719	384	10	.	.	PROPN
cblr-1719	384	11	&	&	CCONJ
cblr-1719	384	12	org	org	PROPN
cblr-1719	384	13	.	.	PROPN
cblr-1719	384	14	83	83	NUM
cblr-1719	384	15	,	,	PUNCT
cblr-1719	384	16	110	110	NUM
cblr-1719	384	17	(	(	PUNCT
cblr-1719	384	18	2001	2001	NUM
cblr-1719	384	19	)	)	PUNCT
cblr-1719	384	20	;	;	PUNCT
cblr-1719	384	21	laura	laura	PROPN
cblr-1719	384	22	casares	casares	PROPN
cblr-1719	384	23	field	field	PROPN
cblr-1719	384	24	&	&	CCONJ
cblr-1719	384	25	jonathan	jonathan	PROPN
cblr-1719	384	26	m.	m.	PROPN
cblr-1719	384	27	karpoff	karpoff	PROPN
cblr-1719	384	28	,	,	PUNCT
cblr-1719	384	29	takeover	takeover	NOUN
cblr-1719	384	30	defenses	defense	NOUN
cblr-1719	384	31	of	of	ADP
cblr-1719	384	32	ipo	ipo	NOUN
cblr-1719	384	33	firms	firm	NOUN
cblr-1719	384	34	,	,	PUNCT
cblr-1719	384	35	57	57	NUM
cblr-1719	384	36	j.	j.	PROPN
cblr-1719	384	37	fin	fin	PROPN
cblr-1719	384	38	.	.	PUNCT
cblr-1719	385	1	1857	1857	NUM
cblr-1719	385	2	,	,	PUNCT
cblr-1719	385	3	1858	1858	NUM
cblr-1719	385	4	(	(	PUNCT
cblr-1719	385	5	2002	2002	NUM
cblr-1719	385	6	)	)	PUNCT
cblr-1719	385	7	;	;	PUNCT
cblr-1719	385	8	william	william	PROPN
cblr-1719	385	9	c.	c.	PROPN
cblr-1719	385	10	johnson	johnson	PROPN
cblr-1719	385	11	et	et	PROPN
cblr-1719	385	12	al	al	PROPN
cblr-1719	385	13	.	.	PROPN
cblr-1719	385	14	,	,	PUNCT
cblr-1719	385	15	the	the	DET
cblr-1719	385	16	bonding	bonding	NOUN
cblr-1719	385	17	hypothesis	hypothesis	NOUN
cblr-1719	385	18	of	of	ADP
cblr-1719	385	19	takeover	takeover	NOUN
cblr-1719	385	20	defenses	defense	NOUN
cblr-1719	385	21	:	:	PUNCT
cblr-1719	385	22	evidence	evidence	NOUN
cblr-1719	385	23	from	from	ADP
cblr-1719	385	24	ipo	ipo	NOUN
cblr-1719	385	25	firms	firm	NOUN
cblr-1719	385	26	,	,	PUNCT
cblr-1719	385	27	117	117	NUM
cblr-1719	385	28	j.	j.	PROPN
cblr-1719	385	29	fin	fin	PROPN
cblr-1719	385	30	.	.	PUNCT
cblr-1719	385	31	econ	econ	PROPN
cblr-1719	385	32	.	.	PUNCT
cblr-1719	386	1	307	307	NUM
cblr-1719	386	2	,	,	PUNCT
cblr-1719	386	3	308	308	NUM
cblr-1719	386	4	(	(	PUNCT
cblr-1719	386	5	2015	2015	NUM
cblr-1719	386	6	)	)	PUNCT
cblr-1719	386	7	.	.	PUNCT
cblr-1719	387	1	122	122	NUM
cblr-1719	387	2	see	see	VERB
cblr-1719	387	3	easterbrook	easterbrook	PROPN
cblr-1719	387	4	&	&	CCONJ
cblr-1719	387	5	fischel	fischel	PROPN
cblr-1719	387	6	,	,	PUNCT
cblr-1719	387	7	supra	supra	PROPN
cblr-1719	387	8	note	note	NOUN
cblr-1719	387	9	2	2	NUM
cblr-1719	387	10	,	,	PUNCT
cblr-1719	387	11	at	at	ADP
cblr-1719	387	12	67–70	67–70	NUM
cblr-1719	387	13	.	.	PUNCT
cblr-1719	388	1	123	123	NUM
cblr-1719	388	2	i	i	PRON
cblr-1719	388	3	d.	d.	VERB
cblr-1719	388	4	at	at	ADP
cblr-1719	388	5	71	71	NUM
cblr-1719	388	6	;	;	PUNCT
cblr-1719	388	7	see	see	VERB
cblr-1719	388	8	bebchuk	bebchuk	NOUN
cblr-1719	388	9	,	,	PUNCT
cblr-1719	388	10	supra	supra	PROPN
cblr-1719	388	11	note	note	NOUN
cblr-1719	388	12	75	75	NUM
cblr-1719	388	13	,	,	PUNCT
cblr-1719	388	14	1679–81	1679–81	NUM
cblr-1719	388	15	;	;	PUNCT
cblr-1719	388	16	c.f	c.f	PROPN
cblr-1719	388	17	.	.	PROPN
cblr-1719	388	18	rolf	rolf	PROPN
cblr-1719	388	19	skog	skog	PROPN
cblr-1719	388	20	,	,	PUNCT
cblr-1719	388	21	the	the	DET
cblr-1719	388	22	european	european	PROPN
cblr-1719	388	23	union	union	PROPN
cblr-1719	388	24	’s	’s	PART
cblr-1719	388	25	proposed	propose	VERB
cblr-1719	388	26	takeover	takeover	NOUN
cblr-1719	388	27	directive	directive	NOUN
cblr-1719	388	28	,	,	PUNCT
cblr-1719	388	29	the	the	DET
cblr-1719	388	30	“	"	PUNCT
cblr-1719	388	31	breakthrough	breakthrough	ADJ
cblr-1719	388	32	”	"	PUNCT
cblr-1719	388	33	rule	rule	NOUN
cblr-1719	388	34	and	and	CCONJ
cblr-1719	388	35	the	the	DET
cblr-1719	388	36	swedish	swedish	ADJ
cblr-1719	388	37	system	system	NOUN
cblr-1719	388	38	of	of	ADP
cblr-1719	388	39	dual	dual	ADJ
cblr-1719	388	40	class	class	NOUN
cblr-1719	388	41	common	common	ADJ
cblr-1719	388	42	stock	stock	NOUN
cblr-1719	388	43	,	,	PUNCT
cblr-1719	388	44	45	45	NUM
cblr-1719	388	45	scandinavian	scandinavian	ADJ
cblr-1719	388	46	stud	stud	NOUN
cblr-1719	388	47	.	.	PUNCT
cblr-1719	389	1	l.	l.	PROPN
cblr-1719	389	2	293	293	NUM
cblr-1719	389	3	,	,	PUNCT
cblr-1719	389	4	302–04	302–04	NUM
cblr-1719	389	5	(	(	PUNCT
cblr-1719	389	6	2003	2003	NUM
cblr-1719	389	7	)	)	PUNCT
cblr-1719	389	8	.	.	PUNCT
cblr-1719	390	1	124	124	NUM
cblr-1719	390	2	see	see	VERB
cblr-1719	390	3	bebchuk	bebchuk	PROPN
cblr-1719	390	4	et	et	PROPN
cblr-1719	390	5	al	al	PROPN
cblr-1719	390	6	.	.	PROPN
cblr-1719	390	7	,	,	PUNCT
cblr-1719	390	8	supra	supra	PROPN
cblr-1719	390	9	note	note	NOUN
cblr-1719	390	10	4	4	NUM
cblr-1719	390	11	.	.	X
cblr-1719	391	1	lin	lin	PROPN
cblr-1719	391	2	–	–	PUNCT
cblr-1719	391	3	final	final	ADJ
cblr-1719	391	4	484	484	NUM
cblr-1719	391	5	columbia	columbia	PROPN
cblr-1719	391	6	business	business	NOUN
cblr-1719	391	7	law	law	PROPN
cblr-1719	391	8	review	review	NOUN
cblr-1719	391	9	[	[	X
cblr-1719	391	10	vol	vol	NOUN
cblr-1719	391	11	.	.	NOUN
cblr-1719	391	12	2017	2017	NUM
cblr-1719	391	13	widespread.125	widespread.125	CCONJ
cblr-1719	391	14	even	even	ADV
cblr-1719	391	15	in	in	ADP
cblr-1719	391	16	the	the	DET
cblr-1719	391	17	united	united	PROPN
cblr-1719	391	18	states	states	PROPN
cblr-1719	391	19	,	,	PUNCT
cblr-1719	391	20	where	where	SCONJ
cblr-1719	391	21	historically	historically	ADV
cblr-1719	391	22	only	only	ADV
cblr-1719	391	23	around	around	ADV
cblr-1719	391	24	6	6	NUM
cblr-1719	391	25	%	%	NOUN
cblr-1719	391	26	of	of	ADP
cblr-1719	391	27	firms	firm	NOUN
cblr-1719	391	28	have	have	AUX
cblr-1719	391	29	employed	employ	VERB
cblr-1719	391	30	a	a	DET
cblr-1719	391	31	multi	multi	ADJ
cblr-1719	391	32	-	-	ADJ
cblr-1719	391	33	class	class	ADJ
cblr-1719	391	34	share	share	NOUN
cblr-1719	391	35	structure	structure	NOUN
cblr-1719	391	36	,	,	PUNCT
cblr-1719	391	37	leveraged	leveraged	ADJ
cblr-1719	391	38	control	control	NOUN
cblr-1719	391	39	mechanisms	mechanism	NOUN
cblr-1719	391	40	have	have	AUX
cblr-1719	391	41	gained	gain	VERB
cblr-1719	391	42	more	more	ADJ
cblr-1719	391	43	traction	traction	NOUN
cblr-1719	391	44	in	in	ADP
cblr-1719	391	45	recent	recent	ADJ
cblr-1719	391	46	decades.126	decades.126	NOUN
cblr-1719	391	47	in	in	ADP
cblr-1719	391	48	their	their	PRON
cblr-1719	391	49	ipo	ipo	NOUN
cblr-1719	391	50	charters	charter	NOUN
cblr-1719	391	51	,	,	PUNCT
cblr-1719	391	52	large	large	ADJ
cblr-1719	391	53	tech	tech	NOUN
cblr-1719	391	54	firms	firm	NOUN
cblr-1719	391	55	that	that	PRON
cblr-1719	391	56	went	go	VERB
cblr-1719	391	57	public	public	ADJ
cblr-1719	391	58	since	since	SCONJ
cblr-1719	391	59	google	google	PROPN
cblr-1719	391	60	’s	’s	PART
cblr-1719	391	61	ipo	ipo	NOUN
cblr-1719	391	62	in	in	ADP
cblr-1719	391	63	2004	2004	NUM
cblr-1719	391	64	have	have	AUX
cblr-1719	391	65	commonly	commonly	ADV
cblr-1719	391	66	adopted	adopt	VERB
cblr-1719	391	67	dual	dual	ADJ
cblr-1719	391	68	-	-	PUNCT
cblr-1719	391	69	class	class	NOUN
cblr-1719	391	70	shares	share	NOUN
cblr-1719	391	71	or	or	CCONJ
cblr-1719	391	72	other	other	ADJ
cblr-1719	391	73	leveraged	leveraged	ADJ
cblr-1719	391	74	control	control	NOUN
cblr-1719	391	75	mechanisms	mechanism	NOUN
cblr-1719	391	76	that	that	PRON
cblr-1719	391	77	grant	grant	VERB
cblr-1719	391	78	multiple	multiple	ADJ
cblr-1719	391	79	voting	voting	NOUN
cblr-1719	391	80	rights	right	NOUN
cblr-1719	391	81	or	or	CCONJ
cblr-1719	391	82	other	other	ADJ
cblr-1719	391	83	priority	priority	NOUN
cblr-1719	391	84	rights	right	NOUN
cblr-1719	391	85	to	to	ADP
cblr-1719	391	86	their	their	PRON
cblr-1719	391	87	founders.127	founders.127	NOUN
cblr-1719	391	88	google	google	PROPN
cblr-1719	391	89	,	,	PUNCT
cblr-1719	391	90	facebook	facebook	NOUN
cblr-1719	391	91	,	,	PUNCT
cblr-1719	391	92	groupon	groupon	NOUN
cblr-1719	391	93	,	,	PUNCT
cblr-1719	391	94	linkedin	linkedin	NOUN
cblr-1719	391	95	,	,	PUNCT
cblr-1719	391	96	zynga	zynga	NOUN
cblr-1719	391	97	,	,	PUNCT
cblr-1719	391	98	and	and	CCONJ
cblr-1719	391	99	alibaba	alibaba	PROPN
cblr-1719	391	100	are	be	AUX
cblr-1719	391	101	some	some	DET
cblr-1719	391	102	wellknown	wellknown	NOUN
cblr-1719	391	103	examples.128	examples.128	ADP
cblr-1719	391	104	a	a	DET
cblr-1719	391	105	recent	recent	ADJ
cblr-1719	391	106	survey	survey	NOUN
cblr-1719	391	107	by	by	ADP
cblr-1719	391	108	davis	davis	PROPN
cblr-1719	391	109	polk	polk	PROPN
cblr-1719	391	110	on	on	ADP
cblr-1719	391	111	u.s	u.s	PROPN
cblr-1719	391	112	.	.	PROPN
cblr-1719	391	113	ipos	ipos	PROPN
cblr-1719	391	114	between	between	ADP
cblr-1719	391	115	september	september	PROPN
cblr-1719	391	116	1	1	NUM
cblr-1719	391	117	,	,	PUNCT
cblr-1719	391	118	2011	2011	NUM
cblr-1719	391	119	and	and	CCONJ
cblr-1719	391	120	october	october	PROPN
cblr-1719	391	121	31	31	NUM
cblr-1719	391	122	,	,	PUNCT
cblr-1719	391	123	2013	2013	NUM
cblr-1719	391	124	reports	report	VERB
cblr-1719	391	125	that	that	SCONJ
cblr-1719	391	126	28	28	NUM
cblr-1719	391	127	%	%	NOUN
cblr-1719	391	128	of	of	ADP
cblr-1719	391	129	the	the	DET
cblr-1719	391	130	newly	newly	ADV
cblr-1719	391	131	listed	list	VERB
cblr-1719	391	132	non	non	ADJ
cblr-1719	391	133	-	-	ADJ
cblr-1719	391	134	controlled	control	VERB
cblr-1719	391	135	firms	firm	NOUN
cblr-1719	391	136	employ	employ	VERB
cblr-1719	391	137	dual	dual	ADJ
cblr-1719	391	138	or	or	CCONJ
cblr-1719	391	139	multi	multi	ADJ
cblr-1719	391	140	-	-	ADJ
cblr-1719	391	141	class	class	ADJ
cblr-1719	391	142	common	common	ADJ
cblr-1719	391	143	stock.129	stock.129	NOUN
cblr-1719	391	144	as	as	SCONJ
cblr-1719	391	145	compared	compare	VERB
cblr-1719	391	146	to	to	ADP
cblr-1719	391	147	8	8	NUM
cblr-1719	391	148	%	%	NOUN
cblr-1719	391	149	in	in	ADP
cblr-1719	391	150	2008	2008	NUM
cblr-1719	391	151	and	and	CCONJ
cblr-1719	391	152	18	18	NUM
cblr-1719	391	153	%	%	NOUN
cblr-1719	391	154	in	in	ADP
cblr-1719	391	155	2011	2011	NUM
cblr-1719	391	156	,	,	PUNCT
cblr-1719	391	157	we	we	PRON
cblr-1719	391	158	see	see	VERB
cblr-1719	391	159	a	a	DET
cblr-1719	391	160	steady	steady	ADJ
cblr-1719	391	161	growth	growth	NOUN
cblr-1719	391	162	in	in	ADP
cblr-1719	391	163	adopting	adopt	VERB
cblr-1719	391	164	leveraged	leveraged	ADJ
cblr-1719	391	165	control	control	NOUN
cblr-1719	391	166	mechanisms	mechanism	NOUN
cblr-1719	391	167	in	in	ADP
cblr-1719	391	168	the	the	DET
cblr-1719	391	169	u.s	u.s	PROPN
cblr-1719	391	170	.	.	PROPN
cblr-1719	391	171	ipo	ipo	PROPN
cblr-1719	391	172	market.130	market.130	PROPN
cblr-1719	391	173	since	since	SCONJ
cblr-1719	391	174	these	these	DET
cblr-1719	391	175	firms	firm	NOUN
cblr-1719	391	176	are	be	AUX
cblr-1719	391	177	the	the	DET
cblr-1719	391	178	driving	drive	VERB
cblr-1719	391	179	force	force	NOUN
cblr-1719	391	180	of	of	ADP
cblr-1719	391	181	the	the	DET
cblr-1719	391	182	economy	economy	NOUN
cblr-1719	391	183	and	and	CCONJ
cblr-1719	391	184	their	their	PRON
cblr-1719	391	185	market	market	NOUN
cblr-1719	391	186	capitalizations	capitalization	NOUN
cblr-1719	391	187	are	be	AUX
cblr-1719	391	188	huge	huge	ADJ
cblr-1719	391	189	,	,	PUNCT
cblr-1719	391	190	we	we	PRON
cblr-1719	391	191	should	should	AUX
cblr-1719	391	192	not	not	PART
cblr-1719	391	193	overlook	overlook	VERB
cblr-1719	391	194	the	the	DET
cblr-1719	391	195	impact	impact	NOUN
cblr-1719	391	196	of	of	ADP
cblr-1719	391	197	their	their	PRON
cblr-1719	391	198	corporate	corporate	ADJ
cblr-1719	391	199	governance	governance	NOUN
cblr-1719	391	200	practices	practice	NOUN
cblr-1719	391	201	on	on	ADP
cblr-1719	391	202	investor	investor	NOUN
cblr-1719	391	203	protection	protection	NOUN
cblr-1719	391	204	and	and	CCONJ
cblr-1719	391	205	capital	capital	NOUN
cblr-1719	391	206	market	market	NOUN
cblr-1719	391	207	development	development	NOUN
cblr-1719	391	208	.	.	PUNCT
cblr-1719	392	1	in	in	ADP
cblr-1719	392	2	sum	sum	NOUN
cblr-1719	392	3	,	,	PUNCT
cblr-1719	392	4	the	the	DET
cblr-1719	392	5	contractarian	contractarian	ADJ
cblr-1719	392	6	view	view	NOUN
cblr-1719	392	7	of	of	ADP
cblr-1719	392	8	corporate	corporate	ADJ
cblr-1719	392	9	law	law	NOUN
cblr-1719	392	10	suggests	suggest	VERB
cblr-1719	392	11	that	that	SCONJ
cblr-1719	392	12	ipo	ipo	PROPN
cblr-1719	392	13	charters	charter	NOUN
cblr-1719	392	14	are	be	AUX
cblr-1719	392	15	optimal	optimal	ADJ
cblr-1719	392	16	,	,	PUNCT
cblr-1719	392	17	yet	yet	CCONJ
cblr-1719	392	18	in	in	ADP
cblr-1719	392	19	practice	practice	NOUN
cblr-1719	392	20	these	these	DET
cblr-1719	392	21	charters	charter	NOUN
cblr-1719	392	22	commonly	commonly	ADV
cblr-1719	392	23	include	include	VERB
cblr-1719	392	24	leveraged	leveraged	ADJ
cblr-1719	392	25	control	control	NOUN
cblr-1719	392	26	or	or	CCONJ
cblr-1719	392	27	other	other	ADJ
cblr-1719	392	28	entrenchment	entrenchment	ADJ
cblr-1719	392	29	provisions	provision	NOUN
cblr-1719	392	30	.	.	PUNCT
cblr-1719	393	1	scholars	scholar	NOUN
cblr-1719	393	2	have	have	AUX
cblr-1719	393	3	tried	try	VERB
cblr-1719	393	4	to	to	PART
cblr-1719	393	5	examine	examine	VERB
cblr-1719	393	6	whether	whether	SCONJ
cblr-1719	393	7	there	there	PRON
cblr-1719	393	8	are	be	VERB
cblr-1719	393	9	efficiency	efficiency	NOUN
cblr-1719	393	10	reasons	reason	NOUN
cblr-1719	393	11	for	for	SCONJ
cblr-1719	393	12	firms	firm	NOUN
cblr-1719	393	13	to	to	PART
cblr-1719	393	14	adopt	adopt	VERB
cblr-1719	393	15	entrenchment	entrenchment	ADJ
cblr-1719	393	16	provisions	provision	NOUN
cblr-1719	393	17	at	at	ADP
cblr-1719	393	18	the	the	DET
cblr-1719	393	19	ipo	ipo	NOUN
cblr-1719	393	20	stage	stage	NOUN
cblr-1719	393	21	,	,	PUNCT
cblr-1719	393	22	such	such	ADJ
cblr-1719	393	23	as	as	ADP
cblr-1719	393	24	ensuring	ensure	VERB
cblr-1719	393	25	stronger	strong	ADJ
cblr-1719	393	26	bargaining	bargaining	NOUN
cblr-1719	393	27	125	125	NUM
cblr-1719	393	28	see	see	VERB
cblr-1719	393	29	iss	iss	PROPN
cblr-1719	393	30	et	et	PROPN
cblr-1719	393	31	al	al	PROPN
cblr-1719	393	32	.	.	PROPN
cblr-1719	393	33	,	,	PUNCT
cblr-1719	393	34	supra	supra	PROPN
cblr-1719	393	35	note	note	PROPN
cblr-1719	393	36	7	7	NUM
cblr-1719	393	37	;	;	PUNCT
cblr-1719	393	38	faccio	faccio	PROPN
cblr-1719	393	39	&	&	CCONJ
cblr-1719	393	40	lang	lang	PROPN
cblr-1719	393	41	,	,	PUNCT
cblr-1719	393	42	supra	supra	PROPN
cblr-1719	393	43	note	note	PROPN
cblr-1719	393	44	15	15	NUM
cblr-1719	393	45	;	;	PUNCT
cblr-1719	393	46	claessens	claessen	VERB
cblr-1719	393	47	et	et	PROPN
cblr-1719	393	48	al	al	PROPN
cblr-1719	393	49	.	.	PROPN
cblr-1719	393	50	,	,	PUNCT
cblr-1719	393	51	supra	supra	PROPN
cblr-1719	393	52	note	note	NOUN
cblr-1719	393	53	7	7	NUM
cblr-1719	393	54	.	.	SYM
cblr-1719	393	55	126	126	NUM
cblr-1719	393	56	see	see	VERB
cblr-1719	393	57	gompers	gomper	NOUN
cblr-1719	393	58	et	et	PROPN
cblr-1719	393	59	al	al	PROPN
cblr-1719	393	60	.	.	PROPN
cblr-1719	393	61	,	,	PUNCT
cblr-1719	393	62	supra	supra	PROPN
cblr-1719	393	63	note	note	PROPN
cblr-1719	393	64	8	8	NUM
cblr-1719	393	65	,	,	PUNCT
cblr-1719	393	66	at	at	ADP
cblr-1719	393	67	1052	1052	NUM
cblr-1719	393	68	;	;	PUNCT
cblr-1719	393	69	irrc	irrc	PROPN
cblr-1719	393	70	institute	institute	PROPN
cblr-1719	393	71	&	&	CCONJ
cblr-1719	393	72	iss	iss	PROPN
cblr-1719	393	73	,	,	PUNCT
cblr-1719	393	74	supra	supra	PROPN
cblr-1719	393	75	note	note	PROPN
cblr-1719	393	76	19	19	NUM
cblr-1719	393	77	.	.	PUNCT
cblr-1719	394	1	127	127	NUM
cblr-1719	394	2	james	james	PROPN
cblr-1719	394	3	surowiecki	surowiecki	PROPN
cblr-1719	394	4	,	,	PUNCT
cblr-1719	394	5	unequal	unequal	ADJ
cblr-1719	394	6	shares	share	NOUN
cblr-1719	394	7	,	,	PUNCT
cblr-1719	394	8	new	new	ADJ
cblr-1719	394	9	yorker	yorker	PROPN
cblr-1719	394	10	(	(	PUNCT
cblr-1719	394	11	may	may	PROPN
cblr-1719	394	12	28	28	NUM
cblr-1719	394	13	,	,	PUNCT
cblr-1719	394	14	2012	2012	NUM
cblr-1719	394	15	)	)	PUNCT
cblr-1719	394	16	,	,	PUNCT
cblr-1719	394	17	http://www.newyorker.com/magazine/2012/05/28/unequal-shares	http://www.newyorker.com/magazine/2012/05/28/unequal-share	VERB
cblr-1719	395	1	[	[	X
cblr-1719	395	2	https://perma.cc/9ywu-2qw9	https://perma.cc/9ywu-2qw9	X
cblr-1719	395	3	]	]	X
cblr-1719	395	4	.	.	PUNCT
cblr-1719	396	1	128	128	NUM
cblr-1719	396	2	see	see	PROPN
cblr-1719	396	3	hodgson	hodgson	PROPN
cblr-1719	396	4	,	,	PUNCT
cblr-1719	396	5	supra	supra	PROPN
cblr-1719	396	6	note	note	NOUN
cblr-1719	396	7	10	10	NUM
cblr-1719	396	8	.	.	PUNCT
cblr-1719	396	9	129	129	NUM
cblr-1719	396	10	see	see	VERB
cblr-1719	396	11	sandler	sandler	PROPN
cblr-1719	396	12	&	&	CCONJ
cblr-1719	396	13	hall	hall	PROPN
cblr-1719	396	14	,	,	PUNCT
cblr-1719	396	15	supra	supra	PROPN
cblr-1719	396	16	note	note	NOUN
cblr-1719	396	17	9	9	NUM
cblr-1719	396	18	,	,	PUNCT
cblr-1719	396	19	at	at	ADP
cblr-1719	396	20	18	18	NUM
cblr-1719	396	21	tbl.1	tbl.1	ADV
cblr-1719	396	22	.	.	PUNCT
cblr-1719	397	1	the	the	DET
cblr-1719	397	2	definition	definition	NOUN
cblr-1719	397	3	of	of	ADP
cblr-1719	397	4	“	"	PUNCT
cblr-1719	397	5	controlled	control	VERB
cblr-1719	397	6	companies	company	NOUN
cblr-1719	397	7	”	"	PUNCT
cblr-1719	397	8	is	be	AUX
cblr-1719	397	9	in	in	ADP
cblr-1719	397	10	accordance	accordance	NOUN
cblr-1719	397	11	with	with	ADP
cblr-1719	397	12	the	the	DET
cblr-1719	397	13	nyse	nyse	NOUN
cblr-1719	397	14	listing	listing	NOUN
cblr-1719	397	15	rule	rule	NOUN
cblr-1719	397	16	which	which	PRON
cblr-1719	397	17	provides	provide	VERB
cblr-1719	397	18	that	that	SCONJ
cblr-1719	397	19	“	"	PUNCT
cblr-1719	397	20	[	[	X
cblr-1719	397	21	a	a	X
cblr-1719	397	22	]	]	X
cblr-1719	397	23	listed	list	VERB
cblr-1719	397	24	company	company	NOUN
cblr-1719	397	25	of	of	ADP
cblr-1719	397	26	which	which	PRON
cblr-1719	397	27	more	more	ADJ
cblr-1719	397	28	than	than	ADP
cblr-1719	397	29	50	50	NUM
cblr-1719	397	30	%	%	NOUN
cblr-1719	397	31	of	of	ADP
cblr-1719	397	32	the	the	DET
cblr-1719	397	33	voting	voting	NOUN
cblr-1719	397	34	power	power	NOUN
cblr-1719	397	35	for	for	ADP
cblr-1719	397	36	the	the	DET
cblr-1719	397	37	election	election	NOUN
cblr-1719	397	38	of	of	ADP
cblr-1719	397	39	directors	director	NOUN
cblr-1719	397	40	is	be	AUX
cblr-1719	397	41	held	hold	VERB
cblr-1719	397	42	by	by	ADP
cblr-1719	397	43	an	an	DET
cblr-1719	397	44	individual	individual	NOUN
cblr-1719	397	45	,	,	PUNCT
cblr-1719	397	46	a	a	DET
cblr-1719	397	47	group	group	NOUN
cblr-1719	397	48	or	or	CCONJ
cblr-1719	397	49	another	another	DET
cblr-1719	397	50	company	company	NOUN
cblr-1719	397	51	”	"	PUNCT
cblr-1719	397	52	.	.	PUNCT
cblr-1719	398	1	see	see	VERB
cblr-1719	398	2	nyse	nyse	PROPN
cblr-1719	398	3	,	,	PUNCT
cblr-1719	398	4	listed	list	VERB
cblr-1719	398	5	company	company	NOUN
cblr-1719	398	6	manual	manual	NOUN
cblr-1719	398	7	§	§	PROPN
cblr-1719	398	8	303a.00	303a.00	NUM
cblr-1719	398	9	.	.	NOUN
cblr-1719	398	10	130	130	NUM
cblr-1719	398	11	sandler	sandler	PROPN
cblr-1719	398	12	&	&	CCONJ
cblr-1719	398	13	hall	hall	PROPN
cblr-1719	398	14	,	,	PUNCT
cblr-1719	398	15	supra	supra	PROPN
cblr-1719	398	16	note	note	NOUN
cblr-1719	398	17	9	9	NUM
cblr-1719	398	18	,	,	PUNCT
cblr-1719	398	19	at	at	ADP
cblr-1719	398	20	18	18	NUM
cblr-1719	398	21	tbl.1	tbl.1	NUM
cblr-1719	398	22	.	.	PUNCT
cblr-1719	399	1	lin	lin	PROPN
cblr-1719	399	2	–	–	PUNCT
cblr-1719	399	3	final	final	ADJ
cblr-1719	399	4	no	no	NOUN
cblr-1719	399	5	.	.	PUNCT
cblr-1719	399	6	2:453	2:453	NUM
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cblr-1719	399	8	controlling	control	VERB
cblr-1719	399	9	-	-	PUNCT
cblr-1719	399	10	minority	minority	NOUN
cblr-1719	399	11	shareholders	shareholder	NOUN
cblr-1719	399	12	485	485	NUM
cblr-1719	399	13	power	power	NOUN
cblr-1719	399	14	in	in	ADP
cblr-1719	399	15	the	the	DET
cblr-1719	399	16	event	event	NOUN
cblr-1719	399	17	of	of	ADP
cblr-1719	399	18	a	a	DET
cblr-1719	399	19	hostile	hostile	ADJ
cblr-1719	399	20	bid	bid	NOUN
cblr-1719	399	21	.	.	PUNCT
cblr-1719	400	1	however	however	ADV
cblr-1719	400	2	,	,	PUNCT
cblr-1719	400	3	they	they	PRON
cblr-1719	400	4	not	not	PART
cblr-1719	400	5	only	only	ADV
cblr-1719	400	6	find	find	VERB
cblr-1719	400	7	no	no	DET
cblr-1719	400	8	supporting	support	VERB
cblr-1719	400	9	evidence	evidence	NOUN
cblr-1719	400	10	,	,	PUNCT
cblr-1719	400	11	but	but	CCONJ
cblr-1719	400	12	they	they	PRON
cblr-1719	400	13	actually	actually	ADV
cblr-1719	400	14	find	find	VERB
cblr-1719	400	15	evidence	evidence	NOUN
cblr-1719	400	16	supporting	support	VERB
cblr-1719	400	17	the	the	DET
cblr-1719	400	18	notion	notion	NOUN
cblr-1719	400	19	that	that	SCONJ
cblr-1719	400	20	ipo	ipo	NOUN
cblr-1719	400	21	managers	manager	NOUN
cblr-1719	400	22	deploy	deploy	VERB
cblr-1719	400	23	antitakeover	antitakeover	ADJ
cblr-1719	400	24	measures	measure	NOUN
cblr-1719	400	25	to	to	PART
cblr-1719	400	26	pursue	pursue	VERB
cblr-1719	400	27	private	private	ADJ
cblr-1719	400	28	benefits	benefit	NOUN
cblr-1719	400	29	of	of	ADP
cblr-1719	400	30	control.131	control.131	X
cblr-1719	400	31	further	further	ADJ
cblr-1719	400	32	evidence	evidence	NOUN
cblr-1719	400	33	from	from	ADP
cblr-1719	400	34	the	the	DET
cblr-1719	400	35	united	united	PROPN
cblr-1719	400	36	states	states	PROPN
cblr-1719	400	37	suggests	suggest	VERB
cblr-1719	400	38	that	that	SCONJ
cblr-1719	400	39	lawyers	lawyer	NOUN
cblr-1719	400	40	are	be	AUX
cblr-1719	400	41	the	the	DET
cblr-1719	400	42	primary	primary	ADJ
cblr-1719	400	43	influence	influence	NOUN
cblr-1719	400	44	in	in	ADP
cblr-1719	400	45	firms	firm	NOUN
cblr-1719	400	46	adopting	adopt	VERB
cblr-1719	400	47	a	a	DET
cblr-1719	400	48	staggered	staggered	ADJ
cblr-1719	400	49	board	board	NOUN
cblr-1719	400	50	,	,	PUNCT
cblr-1719	400	51	an	an	DET
cblr-1719	400	52	entrenchment	entrenchment	ADJ
cblr-1719	400	53	provision	provision	NOUN
cblr-1719	400	54	in	in	ADP
cblr-1719	400	55	ipo	ipo	PROPN
cblr-1719	400	56	charters.132	charters.132	VERB
cblr-1719	400	57	anecdotal	anecdotal	ADJ
cblr-1719	400	58	reports	report	NOUN
cblr-1719	400	59	from	from	ADP
cblr-1719	400	60	practitioners	practitioner	NOUN
cblr-1719	400	61	also	also	ADV
cblr-1719	400	62	imply	imply	VERB
cblr-1719	400	63	that	that	SCONJ
cblr-1719	400	64	entrenched	entrenched	ADJ
cblr-1719	400	65	governance	governance	NOUN
cblr-1719	400	66	provisions	provision	NOUN
cblr-1719	400	67	do	do	AUX
cblr-1719	400	68	not	not	PART
cblr-1719	400	69	affect	affect	VERB
cblr-1719	400	70	ipo	ipo	PROPN
cblr-1719	400	71	pricing.133	pricing.133	NOUN
cblr-1719	400	72	what	what	PRON
cblr-1719	400	73	investors	investor	NOUN
cblr-1719	400	74	care	care	VERB
cblr-1719	400	75	more	more	ADV
cblr-1719	400	76	about	about	ADP
cblr-1719	400	77	in	in	ADP
cblr-1719	400	78	the	the	DET
cblr-1719	400	79	ipo	ipo	NOUN
cblr-1719	400	80	stage	stage	NOUN
cblr-1719	400	81	is	be	AUX
cblr-1719	400	82	the	the	DET
cblr-1719	400	83	business	business	NOUN
cblr-1719	400	84	’	'	PUNCT
cblr-1719	400	85	value	value	NOUN
cblr-1719	400	86	itself	itself	PRON
cblr-1719	400	87	,	,	PUNCT
cblr-1719	400	88	not	not	PART
cblr-1719	400	89	so	so	ADV
cblr-1719	400	90	much	much	ADJ
cblr-1719	400	91	corporate	corporate	ADJ
cblr-1719	400	92	governance	governance	NOUN
cblr-1719	400	93	issues	issue	NOUN
cblr-1719	400	94	.	.	PUNCT
cblr-1719	401	1	from	from	ADP
cblr-1719	401	2	the	the	DET
cblr-1719	401	3	empirical	empirical	ADJ
cblr-1719	401	4	evidence	evidence	NOUN
cblr-1719	401	5	that	that	SCONJ
cblr-1719	401	6	we	we	PRON
cblr-1719	401	7	have	have	VERB
cblr-1719	401	8	so	so	ADV
cblr-1719	401	9	far	far	ADV
cblr-1719	401	10	,	,	PUNCT
cblr-1719	401	11	it	it	PRON
cblr-1719	401	12	seems	seem	VERB
cblr-1719	401	13	that	that	SCONJ
cblr-1719	401	14	practitioners	practitioner	NOUN
cblr-1719	401	15	do	do	AUX
cblr-1719	401	16	not	not	PART
cblr-1719	401	17	factor	factor	VERB
cblr-1719	401	18	in	in	ADP
cblr-1719	401	19	governance	governance	NOUN
cblr-1719	401	20	rules	rule	NOUN
cblr-1719	401	21	in	in	ADP
cblr-1719	401	22	ipo	ipo	NOUN
cblr-1719	401	23	pricing	pricing	NOUN
cblr-1719	401	24	as	as	SCONJ
cblr-1719	401	25	hypothesized	hypothesize	VERB
cblr-1719	401	26	by	by	ADP
cblr-1719	401	27	the	the	DET
cblr-1719	401	28	contractarian	contractarian	ADJ
cblr-1719	401	29	theory	theory	NOUN
cblr-1719	401	30	.	.	PUNCT
cblr-1719	402	1	this	this	PRON
cblr-1719	402	2	casts	cast	VERB
cblr-1719	402	3	further	further	ADJ
cblr-1719	402	4	doubt	doubt	NOUN
cblr-1719	402	5	on	on	ADP
cblr-1719	402	6	the	the	DET
cblr-1719	402	7	contractarians	contractarian	NOUN
cblr-1719	402	8	’	’	PART
cblr-1719	402	9	belief	belief	NOUN
cblr-1719	402	10	that	that	SCONJ
cblr-1719	402	11	ipo	ipo	PROPN
cblr-1719	402	12	charters	charter	NOUN
cblr-1719	402	13	are	be	AUX
cblr-1719	402	14	optimal	optimal	ADJ
cblr-1719	402	15	.	.	PUNCT
cblr-1719	403	1	b.	b.	VERB
cblr-1719	403	2	pro	pro	ADJ
cblr-1719	403	3	-	-	ADJ
cblr-1719	403	4	insider	insider	ADJ
cblr-1719	403	5	distortions	distortion	NOUN
cblr-1719	403	6	in	in	ADP
cblr-1719	403	7	the	the	DET
cblr-1719	403	8	midstream	midstream	NOUN
cblr-1719	403	9	stage	stage	NOUN
cblr-1719	403	10	even	even	ADV
cblr-1719	403	11	if	if	SCONJ
cblr-1719	403	12	we	we	PRON
cblr-1719	403	13	consider	consider	VERB
cblr-1719	403	14	the	the	DET
cblr-1719	403	15	initial	initial	ADJ
cblr-1719	403	16	charter	charter	NOUN
cblr-1719	403	17	to	to	PART
cblr-1719	403	18	be	be	AUX
cblr-1719	403	19	optimal	optimal	ADJ
cblr-1719	403	20	and	and	CCONJ
cblr-1719	403	21	that	that	SCONJ
cblr-1719	403	22	governance	governance	NOUN
cblr-1719	403	23	rules	rule	NOUN
cblr-1719	403	24	are	be	AUX
cblr-1719	403	25	fully	fully	ADV
cblr-1719	403	26	integrated	integrate	VERB
cblr-1719	403	27	into	into	ADP
cblr-1719	403	28	the	the	DET
cblr-1719	403	29	ipo	ipo	NOUN
cblr-1719	403	30	pricing	pricing	NOUN
cblr-1719	403	31	where	where	SCONJ
cblr-1719	403	32	entrepreneurs	entrepreneur	NOUN
cblr-1719	403	33	fully	fully	ADV
cblr-1719	403	34	internalize	internalize	VERB
cblr-1719	403	35	the	the	DET
cblr-1719	403	36	costs	cost	NOUN
cblr-1719	403	37	of	of	ADP
cblr-1719	403	38	suboptimal	suboptimal	ADJ
cblr-1719	403	39	governance	governance	NOUN
cblr-1719	403	40	mechanisms	mechanism	NOUN
cblr-1719	403	41	,	,	PUNCT
cblr-1719	403	42	the	the	DET
cblr-1719	403	43	contracting	contracting	NOUN
cblr-1719	403	44	mechanism	mechanism	NOUN
cblr-1719	403	45	posited	posit	VERB
cblr-1719	403	46	by	by	ADP
cblr-1719	403	47	contractarians	contractarian	NOUN
cblr-1719	403	48	does	do	AUX
cblr-1719	403	49	not	not	PART
cblr-1719	403	50	seem	seem	VERB
cblr-1719	403	51	to	to	PART
cblr-1719	403	52	work	work	VERB
cblr-1719	403	53	that	that	PRON
cblr-1719	403	54	well	well	ADV
cblr-1719	403	55	after	after	ADP
cblr-1719	403	56	the	the	DET
cblr-1719	403	57	initial	initial	ADJ
cblr-1719	403	58	offering	offering	NOUN
cblr-1719	403	59	—	—	PUNCT
cblr-1719	403	60	a	a	DET
cblr-1719	403	61	stage	stage	NOUN
cblr-1719	403	62	that	that	PRON
cblr-1719	403	63	is	be	AUX
cblr-1719	403	64	known	know	VERB
cblr-1719	403	65	as	as	ADP
cblr-1719	403	66	the	the	DET
cblr-1719	403	67	“	"	PUNCT
cblr-1719	403	68	midstream	midstream	NOUN
cblr-1719	403	69	”	"	PUNCT
cblr-1719	403	70	stage.134	stage.134	NOUN
cblr-1719	403	71	a	a	DET
cblr-1719	403	72	corporation	corporation	NOUN
cblr-1719	403	73	is	be	AUX
cblr-1719	403	74	a	a	DET
cblr-1719	403	75	separate	separate	ADJ
cblr-1719	403	76	legal	legal	ADJ
cblr-1719	403	77	entity	entity	NOUN
cblr-1719	403	78	from	from	ADP
cblr-1719	403	79	its	its	PRON
cblr-1719	403	80	founders	founder	NOUN
cblr-1719	403	81	and	and	CCONJ
cblr-1719	403	82	has	have	VERB
cblr-1719	403	83	a	a	DET
cblr-1719	403	84	distinct	distinct	ADJ
cblr-1719	403	85	legal	legal	ADJ
cblr-1719	403	86	personality	personality	NOUN
cblr-1719	403	87	that	that	PRON
cblr-1719	403	88	lasts	last	VERB
cblr-1719	403	89	in	in	ADP
cblr-1719	403	90	perpetuity	perpetuity	NOUN
cblr-1719	403	91	,	,	PUNCT
cblr-1719	403	92	wholly	wholly	ADV
cblr-1719	403	93	independent	independent	ADJ
cblr-1719	403	94	of	of	ADP
cblr-1719	403	95	its	its	PRON
cblr-1719	403	96	founders.135	founders.135	PRON
cblr-1719	403	97	to	to	PART
cblr-1719	403	98	succeed	succeed	VERB
cblr-1719	403	99	and	and	CCONJ
cblr-1719	403	100	stay	stay	VERB
cblr-1719	403	101	profitable	profitable	ADJ
cblr-1719	403	102	in	in	ADP
cblr-1719	403	103	a	a	DET
cblr-1719	403	104	competitive	competitive	ADJ
cblr-1719	403	105	market	market	NOUN
cblr-1719	403	106	,	,	PUNCT
cblr-1719	403	107	companies	company	NOUN
cblr-1719	403	108	need	need	VERB
cblr-1719	403	109	to	to	PART
cblr-1719	403	110	have	have	VERB
cblr-1719	403	111	the	the	DET
cblr-1719	403	112	ability	ability	NOUN
cblr-1719	403	113	to	to	PART
cblr-1719	403	114	adapt	adapt	VERB
cblr-1719	403	115	to	to	ADP
cblr-1719	403	116	the	the	DET
cblr-1719	403	117	ever	ever	ADV
cblr-1719	403	118	-	-	PUNCT
cblr-1719	403	119	changing	change	VERB
cblr-1719	403	120	business	business	NOUN
cblr-1719	403	121	environment.136	environment.136	ADJ
cblr-1719	403	122	even	even	ADV
cblr-1719	403	123	corporate	corporate	ADJ
cblr-1719	403	124	131	131	NUM
cblr-1719	403	125	see	see	NOUN
cblr-1719	403	126	daines	daine	NOUN
cblr-1719	403	127	&	&	CCONJ
cblr-1719	403	128	klausner	klausner	PROPN
cblr-1719	403	129	,	,	PUNCT
cblr-1719	403	130	supra	supra	PROPN
cblr-1719	403	131	note	note	PROPN
cblr-1719	403	132	121	121	NUM
cblr-1719	403	133	,	,	PUNCT
cblr-1719	403	134	at	at	ADP
cblr-1719	403	135	98–104	98–104	PROPN
cblr-1719	403	136	;	;	PUNCT
cblr-1719	403	137	field	field	NOUN
cblr-1719	403	138	&	&	CCONJ
cblr-1719	403	139	karpoff	karpoff	PROPN
cblr-1719	403	140	,	,	PUNCT
cblr-1719	403	141	supra	supra	PROPN
cblr-1719	403	142	note	note	PROPN
cblr-1719	403	143	121	121	NUM
cblr-1719	403	144	,	,	PUNCT
cblr-1719	403	145	at	at	ADP
cblr-1719	403	146	1857–58	1857–58	NUM
cblr-1719	403	147	.	.	PUNCT
cblr-1719	404	1	132	132	NUM
cblr-1719	404	2	see	see	VERB
cblr-1719	404	3	coates	coate	NOUN
cblr-1719	404	4	iv	iv	NUM
cblr-1719	404	5	,	,	PUNCT
cblr-1719	404	6	supra	supra	PROPN
cblr-1719	404	7	note	note	NOUN
cblr-1719	404	8	109	109	NUM
cblr-1719	404	9	,	,	PUNCT
cblr-1719	404	10	at	at	ADP
cblr-1719	404	11	1304	1304	NUM
cblr-1719	404	12	.	.	PUNCT
cblr-1719	405	1	133	133	NUM
cblr-1719	405	2	i	i	PRON
cblr-1719	405	3	d.	d.	PROPN
cblr-1719	405	4	at	at	ADP
cblr-1719	405	5	1381–82	1381–82	NUM
cblr-1719	405	6	;	;	PUNCT
cblr-1719	405	7	see	see	VERB
cblr-1719	405	8	klausner	klausner	PROPN
cblr-1719	405	9	,	,	PUNCT
cblr-1719	405	10	supra	supra	PROPN
cblr-1719	405	11	note	note	PROPN
cblr-1719	405	12	113	113	NUM
cblr-1719	405	13	,	,	PUNCT
cblr-1719	405	14	at	at	ADP
cblr-1719	405	15	1334	1334	NUM
cblr-1719	405	16	.	.	PUNCT
cblr-1719	406	1	134	134	NUM
cblr-1719	406	2	see	see	NOUN
cblr-1719	406	3	bebchuk	bebchuk	NOUN
cblr-1719	406	4	,	,	PUNCT
cblr-1719	406	5	supra	supra	PROPN
cblr-1719	406	6	note	note	PROPN
cblr-1719	406	7	108	108	NUM
cblr-1719	406	8	,	,	PUNCT
cblr-1719	406	9	at	at	ADP
cblr-1719	406	10	1825–29	1825–29	NUM
cblr-1719	406	11	;	;	PUNCT
cblr-1719	406	12	see	see	VERB
cblr-1719	406	13	klausner	klausner	PROPN
cblr-1719	406	14	,	,	PUNCT
cblr-1719	406	15	supra	supra	PROPN
cblr-1719	406	16	note	note	PROPN
cblr-1719	406	17	113	113	NUM
cblr-1719	406	18	,	,	PUNCT
cblr-1719	406	19	at	at	ADP
cblr-1719	406	20	134–47	134–47	PROPN
cblr-1719	406	21	.	.	PUNCT
cblr-1719	407	1	135	135	NUM
cblr-1719	407	2	salomon	salomon	PROPN
cblr-1719	407	3	v.	v.	ADP
cblr-1719	407	4	salomon	salomon	PROPN
cblr-1719	407	5	[	[	X
cblr-1719	407	6	1897	1897	NUM
cblr-1719	407	7	]	]	PUNCT
cblr-1719	407	8	ac	ac	PROPN
cblr-1719	407	9	22	22	NUM
cblr-1719	407	10	(	(	PUNCT
cblr-1719	407	11	h.l	h.l	PROPN
cblr-1719	407	12	.	.	PROPN
cblr-1719	407	13	)	)	PUNCT
cblr-1719	407	14	30	30	NUM
cblr-1719	407	15	(	(	PUNCT
cblr-1719	407	16	u.k	u.k	NOUN
cblr-1719	407	17	.	.	PROPN
cblr-1719	407	18	)	)	PUNCT
cblr-1719	407	19	.	.	PUNCT
cblr-1719	408	1	136	136	NUM
cblr-1719	408	2	see	see	VERB
cblr-1719	408	3	bebchuk	bebchuk	NOUN
cblr-1719	408	4	,	,	PUNCT
cblr-1719	408	5	supra	supra	PROPN
cblr-1719	408	6	note	note	PROPN
cblr-1719	408	7	108	108	NUM
cblr-1719	408	8	.	.	PUNCT
cblr-1719	409	1	lin	lin	PROPN
cblr-1719	409	2	–	–	PUNCT
cblr-1719	409	3	final	final	ADJ
cblr-1719	409	4	486	486	NUM
cblr-1719	409	5	columbia	columbia	PROPN
cblr-1719	409	6	business	business	NOUN
cblr-1719	409	7	law	law	PROPN
cblr-1719	409	8	review	review	NOUN
cblr-1719	409	9	[	[	X
cblr-1719	409	10	vol	vol	NOUN
cblr-1719	409	11	.	.	NOUN
cblr-1719	409	12	2017	2017	NUM
cblr-1719	409	13	ownership	ownership	NOUN
cblr-1719	409	14	may	may	AUX
cblr-1719	409	15	change	change	VERB
cblr-1719	409	16	over	over	ADP
cblr-1719	409	17	time	time	NOUN
cblr-1719	409	18	as	as	ADP
cblr-1719	409	19	the	the	DET
cblr-1719	409	20	firm	firm	ADJ
cblr-1719	409	21	ages.137	ages.137	NOUN
cblr-1719	409	22	the	the	DET
cblr-1719	409	23	optimal	optimal	ADJ
cblr-1719	409	24	governance	governance	NOUN
cblr-1719	409	25	design	design	NOUN
cblr-1719	409	26	in	in	ADP
cblr-1719	409	27	the	the	DET
cblr-1719	409	28	initial	initial	ADJ
cblr-1719	409	29	offering	offering	NOUN
cblr-1719	409	30	stage	stage	NOUN
cblr-1719	409	31	may	may	AUX
cblr-1719	409	32	not	not	PART
cblr-1719	409	33	,	,	PUNCT
cblr-1719	409	34	and	and	CCONJ
cblr-1719	409	35	can	can	AUX
cblr-1719	409	36	not	not	PART
cblr-1719	409	37	,	,	PUNCT
cblr-1719	409	38	be	be	AUX
cblr-1719	409	39	the	the	DET
cblr-1719	409	40	optimal	optimal	ADJ
cblr-1719	409	41	design	design	NOUN
cblr-1719	409	42	forever.138	forever.138	ADJ
cblr-1719	409	43	midstream	midstream	NOUN
cblr-1719	409	44	changes	change	NOUN
cblr-1719	409	45	by	by	ADP
cblr-1719	409	46	managers	manager	NOUN
cblr-1719	409	47	or	or	CCONJ
cblr-1719	409	48	controllers	controller	NOUN
cblr-1719	409	49	represent	represent	VERB
cblr-1719	409	50	a	a	DET
cblr-1719	409	51	governance	governance	NOUN
cblr-1719	409	52	issue	issue	NOUN
cblr-1719	409	53	that	that	PRON
cblr-1719	409	54	is	be	AUX
cblr-1719	409	55	widely	widely	ADV
cblr-1719	409	56	recognized	recognize	VERB
cblr-1719	409	57	by	by	ADP
cblr-1719	409	58	scholars	scholar	NOUN
cblr-1719	409	59	and	and	CCONJ
cblr-1719	409	60	institutional	institutional	ADJ
cblr-1719	409	61	shareholders	shareholder	NOUN
cblr-1719	409	62	.	.	PUNCT
cblr-1719	410	1	139	139	NUM
cblr-1719	410	2	after	after	ADP
cblr-1719	410	3	the	the	DET
cblr-1719	410	4	ipo	ipo	NOUN
cblr-1719	410	5	,	,	PUNCT
cblr-1719	410	6	managers	manager	NOUN
cblr-1719	410	7	and	and	CCONJ
cblr-1719	410	8	controlling	control	VERB
cblr-1719	410	9	shareholders	shareholder	NOUN
cblr-1719	410	10	tend	tend	VERB
cblr-1719	410	11	to	to	PART
cblr-1719	410	12	adopt	adopt	VERB
cblr-1719	410	13	changes	change	NOUN
cblr-1719	410	14	that	that	PRON
cblr-1719	410	15	entrench	entrench	VERB
cblr-1719	410	16	themselves	themselves	PRON
cblr-1719	410	17	at	at	ADP
cblr-1719	410	18	the	the	DET
cblr-1719	410	19	expense	expense	NOUN
cblr-1719	410	20	of	of	ADP
cblr-1719	410	21	shareholders	shareholder	NOUN
cblr-1719	410	22	,	,	PUNCT
cblr-1719	410	23	notably	notably	ADV
cblr-1719	410	24	in	in	ADP
cblr-1719	410	25	the	the	DET
cblr-1719	410	26	poison	poison	NOUN
cblr-1719	410	27	pills	pill	NOUN
cblr-1719	410	28	and	and	CCONJ
cblr-1719	410	29	staggered	staggered	ADJ
cblr-1719	410	30	boards	board	NOUN
cblr-1719	410	31	witnessed	witness	VERB
cblr-1719	410	32	in	in	ADP
cblr-1719	410	33	the	the	DET
cblr-1719	410	34	united	united	PROPN
cblr-1719	410	35	states.140	states.140	PROPN
cblr-1719	410	36	in	in	ADP
cblr-1719	410	37	a	a	DET
cblr-1719	410	38	leveraged	leverage	VERB
cblr-1719	410	39	control	control	NOUN
cblr-1719	410	40	firm	firm	NOUN
cblr-1719	410	41	,	,	PUNCT
cblr-1719	410	42	pro	pro	ADJ
cblr-1719	410	43	-	-	ADJ
cblr-1719	410	44	insider	insider	ADJ
cblr-1719	410	45	distortions	distortion	NOUN
cblr-1719	410	46	in	in	ADP
cblr-1719	410	47	the	the	DET
cblr-1719	410	48	midstream	midstream	NOUN
cblr-1719	410	49	stage	stage	NOUN
cblr-1719	410	50	would	would	AUX
cblr-1719	410	51	be	be	AUX
cblr-1719	410	52	more	more	ADV
cblr-1719	410	53	severe	severe	ADJ
cblr-1719	410	54	as	as	SCONJ
cblr-1719	410	55	insiders	insider	NOUN
cblr-1719	410	56	are	be	AUX
cblr-1719	410	57	more	more	ADV
cblr-1719	410	58	entrenched	entrenched	ADJ
cblr-1719	410	59	and	and	CCONJ
cblr-1719	410	60	outside	outside	ADJ
cblr-1719	410	61	shareholders	shareholder	NOUN
cblr-1719	410	62	lack	lack	VERB
cblr-1719	410	63	the	the	DET
cblr-1719	410	64	necessary	necessary	ADJ
cblr-1719	410	65	voting	voting	NOUN
cblr-1719	410	66	powers	power	NOUN
cblr-1719	410	67	to	to	PART
cblr-1719	410	68	counter	counter	VERB
cblr-1719	410	69	any	any	DET
cblr-1719	410	70	potentially	potentially	ADV
cblr-1719	410	71	value	value	NOUN
cblr-1719	410	72	-	-	PUNCT
cblr-1719	410	73	decreasing	decrease	VERB
cblr-1719	410	74	proposals	proposal	NOUN
cblr-1719	410	75	.	.	PUNCT
cblr-1719	411	1	therefore	therefore	ADV
cblr-1719	411	2	,	,	PUNCT
cblr-1719	411	3	shareholders	shareholder	NOUN
cblr-1719	411	4	need	need	VERB
cblr-1719	411	5	an	an	DET
cblr-1719	411	6	appropriate	appropriate	ADJ
cblr-1719	411	7	midstream	midstream	NOUN
cblr-1719	411	8	charter	charter	NOUN
cblr-1719	411	9	amendment	amendment	NOUN
cblr-1719	411	10	procedure	procedure	NOUN
cblr-1719	411	11	to	to	PART
cblr-1719	411	12	adjust	adjust	VERB
cblr-1719	411	13	the	the	DET
cblr-1719	411	14	governance	governance	NOUN
cblr-1719	411	15	design	design	NOUN
cblr-1719	411	16	to	to	PART
cblr-1719	411	17	reach	reach	VERB
cblr-1719	411	18	an	an	DET
cblr-1719	411	19	optimal	optimal	ADJ
cblr-1719	411	20	level	level	NOUN
cblr-1719	411	21	that	that	PRON
cblr-1719	411	22	would	would	AUX
cblr-1719	411	23	benefit	benefit	VERB
cblr-1719	411	24	all	all	DET
cblr-1719	411	25	shareholders.141	shareholders.141	NOUN
cblr-1719	411	26	however	however	ADV
cblr-1719	411	27	,	,	PUNCT
cblr-1719	411	28	as	as	SCONJ
cblr-1719	411	29	this	this	DET
cblr-1719	411	30	article	article	NOUN
cblr-1719	411	31	argues	argue	VERB
cblr-1719	411	32	in	in	ADP
cblr-1719	411	33	the	the	DET
cblr-1719	411	34	following	follow	VERB
cblr-1719	411	35	section	section	NOUN
cblr-1719	411	36	,	,	PUNCT
cblr-1719	411	37	the	the	DET
cblr-1719	411	38	common	common	ADJ
cblr-1719	411	39	adoption	adoption	NOUN
cblr-1719	411	40	of	of	ADP
cblr-1719	411	41	supermajority	supermajority	NOUN
cblr-1719	411	42	provisions	provision	NOUN
cblr-1719	411	43	in	in	ADP
cblr-1719	411	44	charter	charter	NOUN
cblr-1719	411	45	amendments	amendment	NOUN
cblr-1719	411	46	deters	deter	VERB
cblr-1719	411	47	shareholders	shareholder	NOUN
cblr-1719	411	48	from	from	ADP
cblr-1719	411	49	making	make	VERB
cblr-1719	411	50	any	any	DET
cblr-1719	411	51	value	value	NOUN
cblr-1719	411	52	-	-	PUNCT
cblr-1719	411	53	increasing	increase	VERB
cblr-1719	411	54	midstream	midstream	NOUN
cblr-1719	411	55	changes	change	NOUN
cblr-1719	411	56	and	and	CCONJ
cblr-1719	411	57	distorts	distort	VERB
cblr-1719	411	58	the	the	DET
cblr-1719	411	59	contracting	contracting	NOUN
cblr-1719	411	60	mechanism	mechanism	NOUN
cblr-1719	411	61	between	between	ADP
cblr-1719	411	62	leveraged	leveraged	ADJ
cblr-1719	411	63	controllers	controller	NOUN
cblr-1719	411	64	and	and	CCONJ
cblr-1719	411	65	outside	outside	ADJ
cblr-1719	411	66	shareholders	shareholder	NOUN
cblr-1719	411	67	.	.	PUNCT
cblr-1719	412	1	examples	example	NOUN
cblr-1719	412	2	provided	provide	VERB
cblr-1719	412	3	by	by	ADP
cblr-1719	412	4	google	google	PROPN
cblr-1719	412	5	’s	’s	PART
cblr-1719	412	6	and	and	CCONJ
cblr-1719	412	7	facebook	facebook	PROPN
cblr-1719	412	8	’s	’s	PART
cblr-1719	412	9	issuance	issuance	NOUN
cblr-1719	412	10	of	of	ADP
cblr-1719	412	11	non	non	ADJ
cblr-1719	412	12	-	-	ADJ
cblr-1719	412	13	voting	voting	ADJ
cblr-1719	412	14	class	class	NOUN
cblr-1719	412	15	c	c	PROPN
cblr-1719	412	16	137	137	NUM
cblr-1719	412	17	julian	julian	PROPN
cblr-1719	412	18	franks	frank	NOUN
cblr-1719	412	19	et	et	PROPN
cblr-1719	412	20	al	al	PROPN
cblr-1719	412	21	.	.	PROPN
cblr-1719	412	22	,	,	PUNCT
cblr-1719	412	23	the	the	DET
cblr-1719	412	24	life	life	NOUN
cblr-1719	412	25	cycle	cycle	NOUN
cblr-1719	412	26	of	of	ADP
cblr-1719	412	27	family	family	NOUN
cblr-1719	412	28	ownership	ownership	NOUN
cblr-1719	412	29	:	:	PUNCT
cblr-1719	412	30	international	international	ADJ
cblr-1719	412	31	evidence	evidence	NOUN
cblr-1719	412	32	,	,	PUNCT
cblr-1719	412	33	25	25	NUM
cblr-1719	412	34	rev	rev	X
cblr-1719	412	35	.	.	PROPN
cblr-1719	412	36	fin	fin	NOUN
cblr-1719	412	37	.	.	PUNCT
cblr-1719	412	38	stud	stud	PROPN
cblr-1719	412	39	.	.	PUNCT
cblr-1719	413	1	1675	1675	NUM
cblr-1719	413	2	,	,	PUNCT
cblr-1719	413	3	1675	1675	NUM
cblr-1719	413	4	(	(	PUNCT
cblr-1719	413	5	2012	2012	NUM
cblr-1719	413	6	)	)	PUNCT
cblr-1719	413	7	(	(	PUNCT
cblr-1719	413	8	finding	find	VERB
cblr-1719	413	9	that	that	SCONJ
cblr-1719	413	10	family	family	NOUN
cblr-1719	413	11	firms	firm	NOUN
cblr-1719	413	12	in	in	ADP
cblr-1719	413	13	a	a	DET
cblr-1719	413	14	strong	strong	ADJ
cblr-1719	413	15	investor	investor	NOUN
cblr-1719	413	16	protection	protection	NOUN
cblr-1719	413	17	jurisdiction	jurisdiction	NOUN
cblr-1719	413	18	tend	tend	VERB
cblr-1719	413	19	to	to	PART
cblr-1719	413	20	evolve	evolve	VERB
cblr-1719	413	21	into	into	ADP
cblr-1719	413	22	widely	widely	ADV
cblr-1719	413	23	-	-	PUNCT
cblr-1719	413	24	held	hold	VERB
cblr-1719	413	25	firms	firm	NOUN
cblr-1719	413	26	,	,	PUNCT
cblr-1719	413	27	while	while	SCONJ
cblr-1719	413	28	family	family	NOUN
cblr-1719	413	29	firms	firm	NOUN
cblr-1719	413	30	in	in	ADP
cblr-1719	413	31	a	a	DET
cblr-1719	413	32	weak	weak	ADJ
cblr-1719	413	33	investor	investor	NOUN
cblr-1719	413	34	protection	protection	NOUN
cblr-1719	413	35	regime	regime	NOUN
cblr-1719	413	36	tend	tend	VERB
cblr-1719	413	37	to	to	PART
cblr-1719	413	38	preserve	preserve	VERB
cblr-1719	413	39	family	family	NOUN
cblr-1719	413	40	control	control	NOUN
cblr-1719	413	41	overtime	overtime	NOUN
cblr-1719	413	42	)	)	PUNCT
cblr-1719	413	43	.	.	PUNCT
cblr-1719	414	1	138	138	NUM
cblr-1719	414	2	lucian	lucian	PROPN
cblr-1719	414	3	a.	a.	PROPN
cblr-1719	414	4	bebchuk	bebchuk	PROPN
cblr-1719	414	5	,	,	PUNCT
cblr-1719	414	6	the	the	DET
cblr-1719	414	7	case	case	NOUN
cblr-1719	414	8	for	for	ADP
cblr-1719	414	9	increasing	increase	VERB
cblr-1719	414	10	shareholder	shareholder	NOUN
cblr-1719	414	11	power	power	NOUN
cblr-1719	414	12	,	,	PUNCT
cblr-1719	414	13	118	118	NUM
cblr-1719	414	14	harv	harv	NOUN
cblr-1719	414	15	.	.	PUNCT
cblr-1719	415	1	l.	l.	PROPN
cblr-1719	415	2	rev	rev	PROPN
cblr-1719	415	3	.	.	PROPN
cblr-1719	415	4	833	833	NUM
cblr-1719	415	5	,	,	PUNCT
cblr-1719	415	6	865	865	NUM
cblr-1719	415	7	(	(	PUNCT
cblr-1719	415	8	2005	2005	NUM
cblr-1719	415	9	)	)	PUNCT
cblr-1719	415	10	;	;	PUNCT
cblr-1719	415	11	see	see	VERB
cblr-1719	415	12	bebchuk	bebchuk	NOUN
cblr-1719	415	13	,	,	PUNCT
cblr-1719	415	14	supra	supra	PROPN
cblr-1719	415	15	note	note	PROPN
cblr-1719	415	16	108	108	NUM
cblr-1719	415	17	,	,	PUNCT
cblr-1719	415	18	at	at	ADP
cblr-1719	415	19	1830	1830	NUM
cblr-1719	415	20	.	.	PUNCT
cblr-1719	416	1	139	139	NUM
cblr-1719	416	2	see	see	VERB
cblr-1719	416	3	bebchuk	bebchuk	NOUN
cblr-1719	416	4	,	,	PUNCT
cblr-1719	416	5	supra	supra	PROPN
cblr-1719	416	6	note	note	NOUN
cblr-1719	416	7	108	108	NUM
cblr-1719	416	8	at	at	ADP
cblr-1719	416	9	1820	1820	NUM
cblr-1719	416	10	;	;	PUNCT
cblr-1719	416	11	klausner	klausner	PROPN
cblr-1719	416	12	,	,	PUNCT
cblr-1719	416	13	supra	supra	PROPN
cblr-1719	416	14	note	note	PROPN
cblr-1719	416	15	113	113	NUM
cblr-1719	416	16	,	,	PUNCT
cblr-1719	416	17	at	at	ADP
cblr-1719	416	18	1346	1346	NUM
cblr-1719	416	19	;	;	PUNCT
cblr-1719	416	20	goshen	goshen	PROPN
cblr-1719	416	21	&	&	CCONJ
cblr-1719	416	22	hamdani	hamdani	PROPN
cblr-1719	416	23	,	,	PUNCT
cblr-1719	416	24	supra	supra	PROPN
cblr-1719	416	25	note	note	NOUN
cblr-1719	416	26	81	81	NUM
cblr-1719	416	27	,	,	PUNCT
cblr-1719	416	28	at	at	ADP
cblr-1719	416	29	608–10	608–10	NUM
cblr-1719	416	30	.	.	PUNCT
cblr-1719	417	1	140	140	NUM
cblr-1719	417	2	john	john	PROPN
cblr-1719	417	3	c.	c.	PROPN
cblr-1719	417	4	coates	coates	PROPN
cblr-1719	417	5	iv	iv	NUM
cblr-1719	417	6	,	,	PUNCT
cblr-1719	417	7	takeover	takeover	NOUN
cblr-1719	417	8	defenses	defense	NOUN
cblr-1719	417	9	in	in	ADP
cblr-1719	417	10	the	the	DET
cblr-1719	417	11	shadow	shadow	NOUN
cblr-1719	417	12	of	of	ADP
cblr-1719	417	13	the	the	DET
cblr-1719	417	14	pill	pill	NOUN
cblr-1719	417	15	:	:	PUNCT
cblr-1719	417	16	a	a	DET
cblr-1719	417	17	critique	critique	NOUN
cblr-1719	417	18	of	of	ADP
cblr-1719	417	19	the	the	DET
cblr-1719	417	20	scientific	scientific	ADJ
cblr-1719	417	21	evidence	evidence	NOUN
cblr-1719	417	22	,	,	PUNCT
cblr-1719	417	23	79	79	NUM
cblr-1719	417	24	tex	tex	PROPN
cblr-1719	417	25	.	.	PROPN
cblr-1719	417	26	l.	l.	PROPN
cblr-1719	417	27	rev	rev	PROPN
cblr-1719	417	28	.	.	PROPN
cblr-1719	417	29	271	271	NUM
cblr-1719	417	30	,	,	PUNCT
cblr-1719	417	31	273–74	273–74	NUM
cblr-1719	417	32	(	(	PUNCT
cblr-1719	417	33	2000	2000	NUM
cblr-1719	417	34	)	)	PUNCT
cblr-1719	417	35	;	;	PUNCT
cblr-1719	417	36	lucian	lucian	PROPN
cblr-1719	417	37	a.	a.	PROPN
cblr-1719	417	38	bebchuk	bebchuk	PROPN
cblr-1719	417	39	et	et	PROPN
cblr-1719	417	40	al	al	PROPN
cblr-1719	417	41	.	.	PROPN
cblr-1719	417	42	,	,	PUNCT
cblr-1719	417	43	the	the	DET
cblr-1719	417	44	powerful	powerful	ADJ
cblr-1719	417	45	antitakeover	antitakeover	ADJ
cblr-1719	417	46	force	force	NOUN
cblr-1719	417	47	of	of	ADP
cblr-1719	417	48	staggered	staggered	ADJ
cblr-1719	417	49	boards	board	NOUN
cblr-1719	417	50	:	:	PUNCT
cblr-1719	417	51	theory	theory	NOUN
cblr-1719	417	52	,	,	PUNCT
cblr-1719	417	53	evidence	evidence	NOUN
cblr-1719	417	54	,	,	PUNCT
cblr-1719	417	55	and	and	CCONJ
cblr-1719	417	56	policy	policy	NOUN
cblr-1719	417	57	,	,	PUNCT
cblr-1719	417	58	54	54	NUM
cblr-1719	417	59	stan	stan	PROPN
cblr-1719	417	60	.	.	PUNCT
cblr-1719	418	1	l.	l.	PROPN
cblr-1719	418	2	rev	rev	PROPN
cblr-1719	418	3	.	.	PROPN
cblr-1719	418	4	887	887	NUM
cblr-1719	418	5	,	,	PUNCT
cblr-1719	418	6	895	895	NUM
cblr-1719	418	7	(	(	PUNCT
cblr-1719	418	8	2002	2002	NUM
cblr-1719	418	9	)	)	PUNCT
cblr-1719	418	10	.	.	PUNCT
cblr-1719	419	1	141	141	NUM
cblr-1719	419	2	jeffrey	jeffrey	PROPN
cblr-1719	419	3	n.	n.	PROPN
cblr-1719	419	4	gordon	gordon	PROPN
cblr-1719	419	5	,	,	PUNCT
cblr-1719	419	6	the	the	DET
cblr-1719	419	7	mandatory	mandatory	ADJ
cblr-1719	419	8	structure	structure	NOUN
cblr-1719	419	9	of	of	ADP
cblr-1719	419	10	corporate	corporate	ADJ
cblr-1719	419	11	law	law	NOUN
cblr-1719	419	12	,	,	PUNCT
cblr-1719	419	13	89	89	NUM
cblr-1719	419	14	colum	colum	NOUN
cblr-1719	419	15	.	.	PUNCT
cblr-1719	420	1	l.	l.	PROPN
cblr-1719	420	2	rev	rev	AUX
cblr-1719	420	3	.	.	PROPN
cblr-1719	420	4	1549	1549	NUM
cblr-1719	420	5	,	,	PUNCT
cblr-1719	420	6	1573–85	1573–85	NUM
cblr-1719	420	7	(	(	PUNCT
cblr-1719	420	8	1989	1989	NUM
cblr-1719	420	9	)	)	PUNCT
cblr-1719	420	10	(	(	PUNCT
cblr-1719	420	11	elaborating	elaborate	VERB
cblr-1719	420	12	the	the	DET
cblr-1719	420	13	risks	risk	NOUN
cblr-1719	420	14	of	of	ADP
cblr-1719	420	15	midstream	midstream	NOUN
cblr-1719	420	16	charter	charter	NOUN
cblr-1719	420	17	amendments	amendment	NOUN
cblr-1719	420	18	)	)	PUNCT
cblr-1719	420	19	.	.	PUNCT
cblr-1719	421	1	lin	lin	PROPN
cblr-1719	421	2	–	–	PUNCT
cblr-1719	421	3	final	final	ADJ
cblr-1719	421	4	no	no	NOUN
cblr-1719	421	5	.	.	PUNCT
cblr-1719	422	1	2:453	2:453	NUM
cblr-1719	422	2	]	]	X
cblr-1719	422	3	controlling	control	VERB
cblr-1719	422	4	-	-	PUNCT
cblr-1719	422	5	minority	minority	NOUN
cblr-1719	422	6	shareholders	shareholder	NOUN
cblr-1719	422	7	487	487	NUM
cblr-1719	422	8	shares	share	NOUN
cblr-1719	422	9	and	and	CCONJ
cblr-1719	422	10	recent	recent	ADJ
cblr-1719	422	11	going	go	VERB
cblr-1719	422	12	-	-	PUNCT
cblr-1719	422	13	private	private	ADJ
cblr-1719	422	14	transactions	transaction	NOUN
cblr-1719	422	15	of	of	ADP
cblr-1719	422	16	u.s.-listed	u.s.-listed	ADJ
cblr-1719	422	17	chinese	chinese	ADJ
cblr-1719	422	18	firms	firm	NOUN
cblr-1719	422	19	further	far	ADV
cblr-1719	422	20	illustrate	illustrate	VERB
cblr-1719	422	21	how	how	SCONJ
cblr-1719	422	22	midstream	midstream	NOUN
cblr-1719	422	23	decisions	decision	NOUN
cblr-1719	422	24	are	be	AUX
cblr-1719	422	25	distorted	distort	VERB
cblr-1719	422	26	towards	towards	ADP
cblr-1719	422	27	pro	pro	ADJ
cblr-1719	422	28	-	-	ADJ
cblr-1719	422	29	insider	insider	ADJ
cblr-1719	422	30	decisions	decision	NOUN
cblr-1719	422	31	in	in	ADP
cblr-1719	422	32	a	a	DET
cblr-1719	422	33	leveraged	leveraged	ADJ
cblr-1719	422	34	control	control	NOUN
cblr-1719	422	35	firm	firm	NOUN
cblr-1719	422	36	.	.	PUNCT
cblr-1719	423	1	1	1	X
cblr-1719	423	2	.	.	X
cblr-1719	423	3	supermajority	supermajority	NOUN
cblr-1719	423	4	provision	provision	NOUN
cblr-1719	423	5	deters	deter	NOUN
cblr-1719	423	6	valueincreasing	valueincrease	VERB
cblr-1719	423	7	midstream	midstream	NOUN
cblr-1719	423	8	changes	change	NOUN
cblr-1719	423	9	the	the	DET
cblr-1719	423	10	fact	fact	NOUN
cblr-1719	423	11	that	that	SCONJ
cblr-1719	423	12	ipo	ipo	PROPN
cblr-1719	423	13	charters	charter	NOUN
cblr-1719	423	14	are	be	AUX
cblr-1719	423	15	not	not	PART
cblr-1719	423	16	optimal	optimal	ADJ
cblr-1719	423	17	should	should	AUX
cblr-1719	423	18	come	come	VERB
cblr-1719	423	19	as	as	ADP
cblr-1719	423	20	no	no	DET
cblr-1719	423	21	surprise	surprise	NOUN
cblr-1719	423	22	given	give	VERB
cblr-1719	423	23	that	that	SCONJ
cblr-1719	423	24	the	the	DET
cblr-1719	423	25	market	market	NOUN
cblr-1719	423	26	is	be	AUX
cblr-1719	423	27	imperfect	imperfect	ADJ
cblr-1719	423	28	.	.	PUNCT
cblr-1719	424	1	in	in	ADP
cblr-1719	424	2	addition	addition	NOUN
cblr-1719	424	3	to	to	ADP
cblr-1719	424	4	including	include	VERB
cblr-1719	424	5	control	control	NOUN
cblr-1719	424	6	-	-	PUNCT
cblr-1719	424	7	enhancing	enhance	VERB
cblr-1719	424	8	mechanisms	mechanism	NOUN
cblr-1719	424	9	in	in	ADP
cblr-1719	424	10	ipo	ipo	PROPN
cblr-1719	424	11	charters	charter	NOUN
cblr-1719	424	12	,	,	PUNCT
cblr-1719	424	13	founders	founder	NOUN
cblr-1719	424	14	often	often	ADV
cblr-1719	424	15	raise	raise	VERB
cblr-1719	424	16	the	the	DET
cblr-1719	424	17	threshold	threshold	NOUN
cblr-1719	424	18	to	to	PART
cblr-1719	424	19	amend	amend	VERB
cblr-1719	424	20	charters	charter	NOUN
cblr-1719	424	21	as	as	ADP
cblr-1719	424	22	well.142	well.142	NUM
cblr-1719	424	23	by	by	ADP
cblr-1719	424	24	adopting	adopt	VERB
cblr-1719	424	25	a	a	DET
cblr-1719	424	26	supermajority	supermajority	NOUN
cblr-1719	424	27	vote	vote	NOUN
cblr-1719	424	28	requirement	requirement	NOUN
cblr-1719	424	29	for	for	ADP
cblr-1719	424	30	charter	charter	NOUN
cblr-1719	424	31	amendments	amendment	NOUN
cblr-1719	424	32	,	,	PUNCT
cblr-1719	424	33	controlling	control	VERB
cblr-1719	424	34	-	-	PUNCT
cblr-1719	424	35	minority	minority	NOUN
cblr-1719	424	36	shareholders	shareholder	NOUN
cblr-1719	424	37	effectively	effectively	ADV
cblr-1719	424	38	deter	deter	VERB
cblr-1719	424	39	shareholders	shareholder	NOUN
cblr-1719	424	40	from	from	ADP
cblr-1719	424	41	amending	amend	VERB
cblr-1719	424	42	ipo	ipo	NOUN
cblr-1719	424	43	charters	charter	NOUN
cblr-1719	424	44	in	in	ADP
cblr-1719	424	45	the	the	DET
cblr-1719	424	46	midstream	midstream	NOUN
cblr-1719	424	47	stage	stage	NOUN
cblr-1719	424	48	and	and	CCONJ
cblr-1719	424	49	thereby	thereby	ADV
cblr-1719	424	50	maintain	maintain	VERB
cblr-1719	424	51	leveraged	leveraged	ADJ
cblr-1719	424	52	control	control	NOUN
cblr-1719	424	53	.	.	PUNCT
cblr-1719	425	1	within	within	ADP
cblr-1719	425	2	european	european	ADJ
cblr-1719	425	3	countries	country	NOUN
cblr-1719	425	4	,	,	PUNCT
cblr-1719	425	5	supermajority	supermajority	NOUN
cblr-1719	425	6	voting	voting	NOUN
cblr-1719	425	7	requirements	requirement	NOUN
cblr-1719	425	8	are	be	AUX
cblr-1719	425	9	widely	widely	ADV
cblr-1719	425	10	adopted	adopt	VERB
cblr-1719	425	11	in	in	ADP
cblr-1719	425	12	different	different	ADJ
cblr-1719	425	13	matters	matter	NOUN
cblr-1719	425	14	.	.	PUNCT
cblr-1719	426	1	143	143	NUM
cblr-1719	426	2	most	most	ADJ
cblr-1719	426	3	eu	eu	PROPN
cblr-1719	426	4	member	member	PROPN
cblr-1719	426	5	states	state	NOUN
cblr-1719	426	6	allow	allow	VERB
cblr-1719	426	7	companies	company	NOUN
cblr-1719	426	8	to	to	PART
cblr-1719	426	9	adopt	adopt	VERB
cblr-1719	426	10	a	a	DET
cblr-1719	426	11	supermajority	supermajority	NOUN
cblr-1719	426	12	vote	vote	NOUN
cblr-1719	426	13	requirement	requirement	NOUN
cblr-1719	426	14	for	for	ADP
cblr-1719	426	15	charter	charter	NOUN
cblr-1719	426	16	amendments.144	amendments.144	ADV
cblr-1719	426	17	in	in	ADP
cblr-1719	426	18	fact	fact	NOUN
cblr-1719	426	19	,	,	PUNCT
cblr-1719	426	20	supermajority	supermajority	NOUN
cblr-1719	426	21	provisions	provision	NOUN
cblr-1719	426	22	are	be	AUX
cblr-1719	426	23	often	often	ADV
cblr-1719	426	24	seen	see	VERB
cblr-1719	426	25	as	as	ADP
cblr-1719	426	26	a	a	DET
cblr-1719	426	27	tool	tool	NOUN
cblr-1719	426	28	to	to	PART
cblr-1719	426	29	protect	protect	VERB
cblr-1719	426	30	minority	minority	NOUN
cblr-1719	426	31	shareholders	shareholder	NOUN
cblr-1719	426	32	because	because	SCONJ
cblr-1719	426	33	they	they	PRON
cblr-1719	426	34	prevent	prevent	VERB
cblr-1719	426	35	controllers	controller	NOUN
cblr-1719	426	36	from	from	ADP
cblr-1719	426	37	adopting	adopt	VERB
cblr-1719	426	38	amendments	amendment	NOUN
cblr-1719	426	39	that	that	PRON
cblr-1719	426	40	favor	favor	VERB
cblr-1719	426	41	controllers	controller	NOUN
cblr-1719	426	42	at	at	ADP
cblr-1719	426	43	the	the	DET
cblr-1719	426	44	detriment	detriment	NOUN
cblr-1719	426	45	of	of	ADP
cblr-1719	426	46	minority	minority	NOUN
cblr-1719	426	47	shareholders	shareholder	NOUN
cblr-1719	426	48	.	.	PUNCT
cblr-1719	427	1	however	however	ADV
cblr-1719	427	2	,	,	PUNCT
cblr-1719	427	3	in	in	ADP
cblr-1719	427	4	a	a	DET
cblr-1719	427	5	firm	firm	NOUN
cblr-1719	427	6	with	with	ADP
cblr-1719	427	7	a	a	DET
cblr-1719	427	8	controlling	control	VERB
cblr-1719	427	9	-	-	PUNCT
cblr-1719	427	10	minority	minority	NOUN
cblr-1719	427	11	structure	structure	NOUN
cblr-1719	427	12	,	,	PUNCT
cblr-1719	427	13	a	a	DET
cblr-1719	427	14	supermajority	supermajority	NOUN
cblr-1719	427	15	provision	provision	NOUN
cblr-1719	427	16	for	for	ADP
cblr-1719	427	17	charter	charter	NOUN
cblr-1719	427	18	amendment	amendment	NOUN
cblr-1719	427	19	may	may	AUX
cblr-1719	427	20	serve	serve	VERB
cblr-1719	427	21	to	to	PART
cblr-1719	427	22	further	far	ADV
cblr-1719	427	23	entrench	entrench	VERB
cblr-1719	427	24	the	the	DET
cblr-1719	427	25	controllers	controller	NOUN
cblr-1719	427	26	at	at	ADP
cblr-1719	427	27	the	the	DET
cblr-1719	427	28	expense	expense	NOUN
cblr-1719	427	29	of	of	ADP
cblr-1719	427	30	minority	minority	NOUN
cblr-1719	427	31	shareholders	shareholder	NOUN
cblr-1719	427	32	because	because	SCONJ
cblr-1719	427	33	leveraged	leveraged	ADJ
cblr-1719	427	34	controllers	controller	NOUN
cblr-1719	427	35	can	can	AUX
cblr-1719	427	36	easily	easily	ADV
cblr-1719	427	37	block	block	VERB
cblr-1719	427	38	charter	charter	NOUN
cblr-1719	427	39	amendments	amendment	NOUN
cblr-1719	427	40	with	with	ADP
cblr-1719	427	41	enhanced	enhanced	ADJ
cblr-1719	427	42	voting	voting	NOUN
cblr-1719	427	43	power	power	NOUN
cblr-1719	427	44	.	.	PUNCT
cblr-1719	428	1	in	in	ADP
cblr-1719	428	2	a	a	DET
cblr-1719	428	3	dispersed	disperse	VERB
cblr-1719	428	4	ownership	ownership	NOUN
cblr-1719	428	5	firm	firm	NOUN
cblr-1719	428	6	,	,	PUNCT
cblr-1719	428	7	a	a	DET
cblr-1719	428	8	supermajority	supermajority	NOUN
cblr-1719	428	9	provision	provision	NOUN
cblr-1719	428	10	is	be	AUX
cblr-1719	428	11	generally	generally	ADV
cblr-1719	428	12	seen	see	VERB
cblr-1719	428	13	as	as	ADP
cblr-1719	428	14	an	an	DET
cblr-1719	428	15	entrenchment	entrenchment	ADJ
cblr-1719	428	16	provision	provision	NOUN
cblr-1719	428	17	with	with	ADP
cblr-1719	428	18	the	the	DET
cblr-1719	428	19	effect	effect	NOUN
cblr-1719	428	20	of	of	ADP
cblr-1719	428	21	an	an	DET
cblr-1719	428	22	anti	anti	ADJ
cblr-1719	428	23	-	-	ADJ
cblr-1719	428	24	takeover	takeover	ADJ
cblr-1719	428	25	provision	provision	NOUN
cblr-1719	428	26	.	.	PUNCT
cblr-1719	429	1	in	in	ADP
cblr-1719	429	2	the	the	DET
cblr-1719	429	3	united	united	PROPN
cblr-1719	429	4	states	states	PROPN
cblr-1719	429	5	,	,	PUNCT
cblr-1719	429	6	142	142	NUM
cblr-1719	429	7	klausner	klausner	NOUN
cblr-1719	429	8	,	,	PUNCT
cblr-1719	429	9	fact	fact	NOUN
cblr-1719	429	10	and	and	CCONJ
cblr-1719	429	11	fiction	fiction	NOUN
cblr-1719	429	12	in	in	ADP
cblr-1719	429	13	corporate	corporate	ADJ
cblr-1719	429	14	law	law	NOUN
cblr-1719	429	15	and	and	CCONJ
cblr-1719	429	16	governance	governance	NOUN
cblr-1719	429	17	,	,	PUNCT
cblr-1719	429	18	supra	supra	PROPN
cblr-1719	429	19	note	note	NOUN
cblr-1719	429	20	113	113	NUM
cblr-1719	429	21	,	,	PUNCT
cblr-1719	429	22	at	at	ADP
cblr-1719	429	23	1348	1348	NUM
cblr-1719	429	24	;	;	PUNCT
cblr-1719	429	25	see	see	VERB
cblr-1719	429	26	paul	paul	PROPN
cblr-1719	429	27	gompers	gompers	PROPN
cblr-1719	429	28	et	et	PROPN
cblr-1719	429	29	al	al	PROPN
cblr-1719	429	30	.	.	PROPN
cblr-1719	429	31	,	,	PUNCT
cblr-1719	429	32	corporate	corporate	ADJ
cblr-1719	429	33	governance	governance	NOUN
cblr-1719	429	34	and	and	CCONJ
cblr-1719	429	35	equity	equity	NOUN
cblr-1719	429	36	prices	price	NOUN
cblr-1719	429	37	,	,	PUNCT
cblr-1719	429	38	118	118	NUM
cblr-1719	429	39	q.j	q.j	PROPN
cblr-1719	429	40	.	.	PROPN
cblr-1719	429	41	econ	econ	PROPN
cblr-1719	429	42	.	.	PUNCT
cblr-1719	430	1	107	107	NUM
cblr-1719	430	2	,	,	PUNCT
cblr-1719	430	3	146	146	NUM
cblr-1719	430	4	(	(	PUNCT
cblr-1719	430	5	2003	2003	NUM
cblr-1719	430	6	)	)	PUNCT
cblr-1719	430	7	.	.	PUNCT
cblr-1719	431	1	143	143	NUM
cblr-1719	431	2	iss	iss	PROPN
cblr-1719	431	3	et	et	PROPN
cblr-1719	431	4	al	al	PROPN
cblr-1719	431	5	.	.	PROPN
cblr-1719	431	6	,	,	PUNCT
cblr-1719	431	7	supra	supra	PROPN
cblr-1719	431	8	note	note	PROPN
cblr-1719	431	9	7	7	NUM
cblr-1719	431	10	,	,	PUNCT
cblr-1719	431	11	at	at	ADP
cblr-1719	431	12	21	21	NUM
cblr-1719	431	13	.	.	PUNCT
cblr-1719	431	14	144	144	NUM
cblr-1719	431	15	according	accord	VERB
cblr-1719	431	16	to	to	ADP
cblr-1719	431	17	the	the	DET
cblr-1719	431	18	survey	survey	NOUN
cblr-1719	431	19	of	of	ADP
cblr-1719	431	20	16	16	NUM
cblr-1719	431	21	eu	eu	PROPN
cblr-1719	431	22	member	member	PROPN
cblr-1719	431	23	states	state	NOUN
cblr-1719	431	24	in	in	ADP
cblr-1719	431	25	2007	2007	NUM
cblr-1719	431	26	,	,	PUNCT
cblr-1719	431	27	only	only	ADV
cblr-1719	431	28	ireland	ireland	PROPN
cblr-1719	431	29	restricts	restrict	VERB
cblr-1719	431	30	the	the	DET
cblr-1719	431	31	application	application	NOUN
cblr-1719	431	32	of	of	ADP
cblr-1719	431	33	supermajority	supermajority	NOUN
cblr-1719	431	34	vote	vote	NOUN
cblr-1719	431	35	on	on	ADP
cblr-1719	431	36	amendments	amendment	NOUN
cblr-1719	431	37	to	to	ADP
cblr-1719	431	38	the	the	DET
cblr-1719	431	39	articles	article	NOUN
cblr-1719	431	40	of	of	ADP
cblr-1719	431	41	association	association	NOUN
cblr-1719	431	42	.	.	PUNCT
cblr-1719	432	1	i	i	PRON
cblr-1719	432	2	d.	d.	PROPN
cblr-1719	432	3	lin	lin	PROPN
cblr-1719	432	4	–	–	PUNCT
cblr-1719	432	5	final	final	ADJ
cblr-1719	432	6	488	488	NUM
cblr-1719	432	7	columbia	columbia	PROPN
cblr-1719	432	8	business	business	NOUN
cblr-1719	432	9	law	law	PROPN
cblr-1719	432	10	review	review	NOUN
cblr-1719	433	1	[	[	X
cblr-1719	433	2	vol	vol	NOUN
cblr-1719	433	3	.	.	NOUN
cblr-1719	433	4	2017	2017	NUM
cblr-1719	433	5	state	state	NOUN
cblr-1719	433	6	corporate	corporate	ADJ
cblr-1719	433	7	law	law	NOUN
cblr-1719	433	8	generally	generally	ADV
cblr-1719	433	9	provides	provide	VERB
cblr-1719	433	10	that	that	SCONJ
cblr-1719	433	11	a	a	DET
cblr-1719	433	12	charter	charter	NOUN
cblr-1719	433	13	amendment	amendment	NOUN
cblr-1719	433	14	has	have	VERB
cblr-1719	433	15	to	to	PART
cblr-1719	433	16	be	be	AUX
cblr-1719	433	17	initiated	initiate	VERB
cblr-1719	433	18	by	by	ADP
cblr-1719	433	19	the	the	DET
cblr-1719	433	20	board	board	NOUN
cblr-1719	433	21	and	and	CCONJ
cblr-1719	433	22	approved	approve	VERB
cblr-1719	433	23	by	by	ADP
cblr-1719	433	24	a	a	DET
cblr-1719	433	25	majority	majority	NOUN
cblr-1719	433	26	vote	vote	NOUN
cblr-1719	433	27	of	of	ADP
cblr-1719	433	28	shareholders.145	shareholders.145	NOUN
cblr-1719	433	29	the	the	DET
cblr-1719	433	30	law	law	NOUN
cblr-1719	433	31	does	do	AUX
cblr-1719	433	32	not	not	PART
cblr-1719	433	33	require	require	VERB
cblr-1719	433	34	a	a	DET
cblr-1719	433	35	supermajority	supermajority	NOUN
cblr-1719	433	36	provision	provision	NOUN
cblr-1719	433	37	,	,	PUNCT
cblr-1719	433	38	as	as	SCONJ
cblr-1719	433	39	do	do	VERB
cblr-1719	433	40	some	some	DET
cblr-1719	433	41	laws	law	NOUN
cblr-1719	433	42	in	in	ADP
cblr-1719	433	43	european	european	ADJ
cblr-1719	433	44	countries	country	NOUN
cblr-1719	433	45	,	,	PUNCT
cblr-1719	433	46	yet	yet	CCONJ
cblr-1719	433	47	the	the	DET
cblr-1719	433	48	law	law	NOUN
cblr-1719	433	49	does	do	AUX
cblr-1719	433	50	not	not	PART
cblr-1719	433	51	restrict	restrict	VERB
cblr-1719	433	52	the	the	DET
cblr-1719	433	53	adoption	adoption	NOUN
cblr-1719	433	54	of	of	ADP
cblr-1719	433	55	supermajority	supermajority	NOUN
cblr-1719	433	56	provisions	provision	NOUN
cblr-1719	433	57	either.146	either.146	ADP
cblr-1719	433	58	a	a	DET
cblr-1719	433	59	recent	recent	ADJ
cblr-1719	433	60	survey	survey	NOUN
cblr-1719	433	61	of	of	ADP
cblr-1719	433	62	u.s	u.s	PROPN
cblr-1719	433	63	.	.	PROPN
cblr-1719	433	64	ipo	ipo	NOUN
cblr-1719	433	65	firms	firm	NOUN
cblr-1719	433	66	from	from	ADP
cblr-1719	433	67	2009–2011	2009–2011	NUM
cblr-1719	433	68	reports	report	NOUN
cblr-1719	433	69	that	that	SCONJ
cblr-1719	433	70	74	74	NUM
cblr-1719	433	71	%	%	NOUN
cblr-1719	433	72	of	of	ADP
cblr-1719	433	73	non	non	ADJ
cblr-1719	433	74	-	-	ADJ
cblr-1719	433	75	controlled	control	VERB
cblr-1719	433	76	ipo	ipo	NOUN
cblr-1719	433	77	companies	company	NOUN
cblr-1719	433	78	required	require	VERB
cblr-1719	433	79	a	a	DET
cblr-1719	433	80	supermajority	supermajority	NOUN
cblr-1719	433	81	shareholder	shareholder	NOUN
cblr-1719	433	82	vote	vote	NOUN
cblr-1719	433	83	to	to	PART
cblr-1719	433	84	amend	amend	VERB
cblr-1719	433	85	their	their	PRON
cblr-1719	433	86	charters.147	charters.147	NOUN
cblr-1719	433	87	in	in	ADP
cblr-1719	433	88	general	general	ADJ
cblr-1719	433	89	,	,	PUNCT
cblr-1719	433	90	modern	modern	ADJ
cblr-1719	433	91	company	company	NOUN
cblr-1719	433	92	law	law	NOUN
cblr-1719	433	93	only	only	ADV
cblr-1719	433	94	sets	set	VERB
cblr-1719	433	95	the	the	DET
cblr-1719	433	96	lower	lower	ADV
cblr-1719	433	97	bound	bind	VERB
cblr-1719	433	98	threshold	threshold	NOUN
cblr-1719	433	99	for	for	ADP
cblr-1719	433	100	charter	charter	NOUN
cblr-1719	433	101	amendment	amendment	NOUN
cblr-1719	433	102	,	,	PUNCT
cblr-1719	433	103	not	not	PART
cblr-1719	433	104	the	the	DET
cblr-1719	433	105	ceiling.148	ceiling.148	NOUN
cblr-1719	433	106	in	in	ADP
cblr-1719	433	107	extreme	extreme	ADJ
cblr-1719	433	108	cases	case	NOUN
cblr-1719	433	109	,	,	PUNCT
cblr-1719	433	110	the	the	DET
cblr-1719	433	111	threshold	threshold	NOUN
cblr-1719	433	112	for	for	ADP
cblr-1719	433	113	amending	amend	VERB
cblr-1719	433	114	leveraged	leveraged	ADJ
cblr-1719	433	115	-	-	PUNCT
cblr-1719	433	116	control	control	NOUN
cblr-1719	433	117	-	-	PUNCT
cblr-1719	433	118	related	relate	VERB
cblr-1719	433	119	provisions	provision	NOUN
cblr-1719	433	120	can	can	AUX
cblr-1719	433	121	be	be	AUX
cblr-1719	433	122	as	as	ADV
cblr-1719	433	123	high	high	ADJ
cblr-1719	433	124	as	as	ADP
cblr-1719	433	125	unanimous	unanimous	ADJ
cblr-1719	433	126	consent	consent	NOUN
cblr-1719	433	127	.	.	PUNCT
cblr-1719	434	1	for	for	ADP
cblr-1719	434	2	example	example	NOUN
cblr-1719	434	3	,	,	PUNCT
cblr-1719	434	4	the	the	DET
cblr-1719	434	5	chinese	chinese	ADJ
cblr-1719	434	6	internet	internet	NOUN
cblr-1719	434	7	giant	giant	NOUN
cblr-1719	434	8	alibaba	alibaba	PROPN
cblr-1719	434	9	publicly	publicly	ADV
cblr-1719	434	10	listed	list	VERB
cblr-1719	434	11	its	its	PRON
cblr-1719	434	12	shares	share	NOUN
cblr-1719	434	13	on	on	ADP
cblr-1719	434	14	the	the	DET
cblr-1719	434	15	nyse	nyse	PROPN
cblr-1719	434	16	in	in	ADP
cblr-1719	434	17	september	september	PROPN
cblr-1719	434	18	2014.149	2014.149	NUM
cblr-1719	434	19	instead	instead	ADV
cblr-1719	434	20	of	of	ADP
cblr-1719	434	21	adopting	adopt	VERB
cblr-1719	434	22	dual	dual	ADJ
cblr-1719	434	23	-	-	PUNCT
cblr-1719	434	24	class	class	NOUN
cblr-1719	434	25	shares	share	NOUN
cblr-1719	434	26	,	,	PUNCT
cblr-1719	434	27	alibaba	alibaba	PROPN
cblr-1719	434	28	granted	grant	VERB
cblr-1719	434	29	a	a	DET
cblr-1719	434	30	partnership	partnership	NOUN
cblr-1719	434	31	formed	form	VERB
cblr-1719	434	32	by	by	ADP
cblr-1719	434	33	a	a	DET
cblr-1719	434	34	group	group	NOUN
cblr-1719	434	35	of	of	ADP
cblr-1719	434	36	its	its	PRON
cblr-1719	434	37	founders	founder	NOUN
cblr-1719	434	38	and	and	CCONJ
cblr-1719	434	39	executives	executive	NOUN
cblr-1719	434	40	an	an	DET
cblr-1719	434	41	exclusive	exclusive	ADJ
cblr-1719	434	42	right	right	NOUN
cblr-1719	434	43	to	to	PART
cblr-1719	434	44	nominate	nominate	VERB
cblr-1719	434	45	the	the	DET
cblr-1719	434	46	majority	majority	NOUN
cblr-1719	434	47	of	of	ADP
cblr-1719	434	48	the	the	DET
cblr-1719	434	49	board	board	NOUN
cblr-1719	434	50	of	of	ADP
cblr-1719	434	51	directors.150	directors.150	VERB
cblr-1719	434	52	the	the	DET
cblr-1719	434	53	nomination	nomination	NOUN
cblr-1719	434	54	right	right	NOUN
cblr-1719	434	55	is	be	AUX
cblr-1719	434	56	not	not	PART
cblr-1719	434	57	attached	attach	VERB
cblr-1719	434	58	to	to	ADP
cblr-1719	434	59	any	any	DET
cblr-1719	434	60	shares	share	NOUN
cblr-1719	434	61	but	but	CCONJ
cblr-1719	434	62	has	have	VERB
cblr-1719	434	63	the	the	DET
cblr-1719	434	64	same	same	ADJ
cblr-1719	434	65	function	function	NOUN
cblr-1719	434	66	as	as	ADP
cblr-1719	434	67	priority	priority	NOUN
cblr-1719	434	68	shares	share	NOUN
cblr-1719	434	69	where	where	SCONJ
cblr-1719	434	70	special	special	ADJ
cblr-1719	434	71	nomination	nomination	NOUN
cblr-1719	434	72	(	(	PUNCT
cblr-1719	434	73	or	or	CCONJ
cblr-1719	434	74	veto	veto	NOUN
cblr-1719	434	75	)	)	PUNCT
cblr-1719	434	76	rights	right	NOUN
cblr-1719	434	77	are	be	AUX
cblr-1719	434	78	granted	grant	VERB
cblr-1719	434	79	to	to	ADP
cblr-1719	434	80	certain	certain	ADJ
cblr-1719	434	81	shareholders	shareholder	NOUN
cblr-1719	434	82	.	.	PUNCT
cblr-1719	435	1	151	151	NUM
cblr-1719	435	2	to	to	PART
cblr-1719	435	3	ensure	ensure	VERB
cblr-1719	435	4	that	that	SCONJ
cblr-1719	435	5	these	these	DET
cblr-1719	435	6	leveraged	leverage	VERB
cblr-1719	435	7	control	control	NOUN
cblr-1719	435	8	rights	right	NOUN
cblr-1719	435	9	will	will	AUX
cblr-1719	435	10	not	not	PART
cblr-1719	435	11	be	be	AUX
cblr-1719	435	12	changed	change	VERB
cblr-1719	435	13	through	through	ADP
cblr-1719	435	14	midstream	midstream	NOUN
cblr-1719	435	15	amendments	amendment	NOUN
cblr-1719	435	16	,	,	PUNCT
cblr-1719	435	17	alibaba	alibaba	PROPN
cblr-1719	435	18	also	also	ADV
cblr-1719	435	19	inserted	insert	VERB
cblr-1719	435	20	a	a	DET
cblr-1719	435	21	supermajority	supermajority	NOUN
cblr-1719	435	22	vote	vote	NOUN
cblr-1719	435	23	requirement	requirement	NOUN
cblr-1719	435	24	for	for	ADP
cblr-1719	435	25	future	future	ADJ
cblr-1719	435	26	charter	charter	NOUN
cblr-1719	435	27	145	145	NUM
cblr-1719	435	28	see	see	VERB
cblr-1719	435	29	,	,	PUNCT
cblr-1719	435	30	e.g.	e.g.	ADV
cblr-1719	435	31	,	,	PUNCT
cblr-1719	435	32	model	model	PROPN
cblr-1719	435	33	business	business	PROPN
cblr-1719	435	34	corp	corp	PROPN
cblr-1719	435	35	.	.	PROPN
cblr-1719	435	36	act	act	PROPN
cblr-1719	435	37	§	§	PROPN
cblr-1719	435	38	10.03	10.03	NUM
cblr-1719	435	39	(	(	PUNCT
cblr-1719	435	40	2006	2006	NUM
cblr-1719	435	41	)	)	PUNCT
cblr-1719	435	42	;	;	PUNCT
cblr-1719	435	43	del	del	PROPN
cblr-1719	435	44	.	.	PROPN
cblr-1719	435	45	code	code	PROPN
cblr-1719	435	46	.	.	PUNCT
cblr-1719	436	1	ann	ann	PROPN
cblr-1719	436	2	.	.	PUNCT
cblr-1719	437	1	tit	tit	PROPN
cblr-1719	437	2	.	.	PROPN
cblr-1719	438	1	8	8	NUM
cblr-1719	438	2	,	,	PUNCT
cblr-1719	438	3	§	§	PROPN
cblr-1719	438	4	242(b)(1	242(b)(1	NUM
cblr-1719	438	5	)	)	PUNCT
cblr-1719	438	6	(	(	PUNCT
cblr-1719	439	1	2016	2016	NUM
cblr-1719	439	2	)	)	PUNCT
cblr-1719	439	3	;	;	PUNCT
cblr-1719	440	1	cal	cal	PROPN
cblr-1719	440	2	.	.	PUNCT
cblr-1719	440	3	corp	corp	PROPN
cblr-1719	440	4	.	.	PROPN
cblr-1719	440	5	code	code	PROPN
cblr-1719	440	6	§	§	PROPN
cblr-1719	440	7	902	902	NUM
cblr-1719	440	8	(	(	PUNCT
cblr-1719	440	9	2016	2016	NUM
cblr-1719	440	10	)	)	PUNCT
cblr-1719	440	11	;	;	PUNCT
cblr-1719	440	12	n.y	n.y	PROPN
cblr-1719	440	13	.	.	PROPN
cblr-1719	440	14	bus	bus	PROPN
cblr-1719	440	15	.	.	PUNCT
cblr-1719	440	16	corp	corp	PROPN
cblr-1719	440	17	.	.	PROPN
cblr-1719	440	18	law	law	PROPN
cblr-1719	440	19	§	§	PROPN
cblr-1719	440	20	803	803	NUM
cblr-1719	440	21	(	(	PUNCT
cblr-1719	440	22	2016	2016	NUM
cblr-1719	440	23	)	)	PUNCT
cblr-1719	440	24	.	.	PUNCT
cblr-1719	441	1	146	146	NUM
cblr-1719	441	2	see	see	VERB
cblr-1719	441	3	,	,	PUNCT
cblr-1719	441	4	e.g.	e.g.	ADV
cblr-1719	441	5	,	,	PUNCT
cblr-1719	441	6	model	model	NOUN
cblr-1719	441	7	bus	bus	PROPN
cblr-1719	441	8	.	.	PUNCT
cblr-1719	441	9	corp	corp	PROPN
cblr-1719	441	10	.	.	PROPN
cblr-1719	441	11	act	act	PROPN
cblr-1719	441	12	§	§	PROPN
cblr-1719	441	13	7.27	7.27	NUM
cblr-1719	441	14	(	(	PUNCT
cblr-1719	441	15	2006	2006	NUM
cblr-1719	441	16	)	)	PUNCT
cblr-1719	441	17	.	.	PUNCT
cblr-1719	442	1	147	147	NUM
cblr-1719	442	2	richard	richard	PROPN
cblr-1719	442	3	sandler	sandler	PROPN
cblr-1719	442	4	&	&	CCONJ
cblr-1719	442	5	elizabeth	elizabeth	PROPN
cblr-1719	442	6	weinstein	weinstein	PROPN
cblr-1719	442	7	,	,	PUNCT
cblr-1719	442	8	corporate	corporate	ADJ
cblr-1719	442	9	governance	governance	NOUN
cblr-1719	442	10	practices	practice	NOUN
cblr-1719	442	11	for	for	ADP
cblr-1719	442	12	initial	initial	ADJ
cblr-1719	442	13	public	public	ADJ
cblr-1719	442	14	offerings	offering	NOUN
cblr-1719	442	15	in	in	ADP
cblr-1719	442	16	the	the	DET
cblr-1719	442	17	united	united	PROPN
cblr-1719	442	18	states	states	PROPN
cblr-1719	442	19	5	5	NUM
cblr-1719	442	20	(	(	PUNCT
cblr-1719	442	21	2012	2012	NUM
cblr-1719	442	22	)	)	PUNCT
cblr-1719	442	23	,	,	PUNCT
cblr-1719	442	24	https://www.davispolk.com/files/files/publication/	https://www.davispolk.com/files/files/publication/	PROPN
cblr-1719	442	25	81644133	81644133	NUM
cblr-1719	442	26	-	-	PUNCT
cblr-1719	442	27	c3f2	c3f2	NOUN
cblr-1719	442	28	-	-	PUNCT
cblr-1719	442	29	4eb4	4eb4	NUM
cblr-1719	442	30	-	-	PUNCT
cblr-1719	442	31	a30c-78cb3fe421ac	a30c-78cb3fe421ac	NOUN
cblr-1719	442	32	/	/	SYM
cblr-1719	442	33	preview	preview	NOUN
cblr-1719	442	34	/	/	SYM
cblr-1719	442	35	publicationattachment/	publicationattachment/	NUM
cblr-1719	442	36	58d40b26	58d40b26	NUM
cblr-1719	442	37	-	-	PUNCT
cblr-1719	442	38	2090	2090	NUM
cblr-1719	442	39	-	-	PUNCT
cblr-1719	442	40	4625	4625	NUM
cblr-1719	442	41	-	-	PUNCT
cblr-1719	442	42	9651	9651	NUM
cblr-1719	442	43	-	-	PUNCT
cblr-1719	442	44	858d3b0a8600	858d3b0a8600	NUM
cblr-1719	442	45	/	/	SYM
cblr-1719	442	46	sandler.eweinstn.conference	sandler.eweinstn.conference	NOUN
cblr-1719	442	47	.	.	PUNCT
cblr-1719	443	1	board.article.feb12.pdf	board.article.feb12.pdf	X
cblr-1719	443	2	.	.	NOUN
cblr-1719	443	3	148	148	NUM
cblr-1719	443	4	exceptions	exception	NOUN
cblr-1719	443	5	are	be	AUX
cblr-1719	443	6	found	find	VERB
cblr-1719	443	7	in	in	ADP
cblr-1719	443	8	some	some	DET
cblr-1719	443	9	european	european	ADJ
cblr-1719	443	10	countries	country	NOUN
cblr-1719	443	11	.	.	PUNCT
cblr-1719	444	1	in	in	ADP
cblr-1719	444	2	greece	greece	PROPN
cblr-1719	444	3	,	,	PUNCT
cblr-1719	444	4	spain	spain	PROPN
cblr-1719	444	5	,	,	PUNCT
cblr-1719	444	6	italy	italy	PROPN
cblr-1719	444	7	,	,	PUNCT
cblr-1719	444	8	and	and	CCONJ
cblr-1719	444	9	poland	poland	PROPN
cblr-1719	444	10	,	,	PUNCT
cblr-1719	444	11	the	the	DET
cblr-1719	444	12	law	law	NOUN
cblr-1719	444	13	restricts	restrict	VERB
cblr-1719	444	14	supermajority	supermajority	NOUN
cblr-1719	444	15	from	from	ADP
cblr-1719	444	16	attaining	attain	VERB
cblr-1719	444	17	unanimity	unanimity	NOUN
cblr-1719	444	18	.	.	PUNCT
cblr-1719	445	1	iss	iss	PROPN
cblr-1719	445	2	et	et	PROPN
cblr-1719	445	3	al	al	PROPN
cblr-1719	445	4	.	.	PROPN
cblr-1719	445	5	,	,	PUNCT
cblr-1719	445	6	supra	supra	PROPN
cblr-1719	445	7	note	note	PROPN
cblr-1719	445	8	7	7	NUM
cblr-1719	445	9	,	,	PUNCT
cblr-1719	445	10	at	at	ADP
cblr-1719	445	11	21	21	NUM
cblr-1719	445	12	.	.	NOUN
cblr-1719	445	13	149	149	NUM
cblr-1719	445	14	see	see	VERB
cblr-1719	445	15	supra	supra	PROPN
cblr-1719	445	16	note	note	NOUN
cblr-1719	445	17	44	44	NUM
cblr-1719	445	18	and	and	CCONJ
cblr-1719	445	19	accompanying	accompany	VERB
cblr-1719	445	20	text	text	NOUN
cblr-1719	445	21	.	.	PUNCT
cblr-1719	446	1	150	150	NUM
cblr-1719	446	2	lin	lin	PROPN
cblr-1719	446	3	&	&	CCONJ
cblr-1719	446	4	mehaffy	mehaffy	PROPN
cblr-1719	446	5	,	,	PUNCT
cblr-1719	446	6	supra	supra	ADJ
cblr-1719	446	7	note	note	NOUN
cblr-1719	446	8	44	44	NUM
cblr-1719	446	9	,	,	PUNCT
cblr-1719	446	10	at	at	ADP
cblr-1719	446	11	455–56	455–56	NOUN
cblr-1719	446	12	.	.	PUNCT
cblr-1719	447	1	151	151	NUM
cblr-1719	447	2	i	i	PRON
cblr-1719	447	3	d.	d.	PROPN
cblr-1719	447	4	lin	lin	PROPN
cblr-1719	447	5	–	–	PUNCT
cblr-1719	447	6	final	final	ADJ
cblr-1719	447	7	no	no	NOUN
cblr-1719	447	8	.	.	PUNCT
cblr-1719	448	1	2:453	2:453	NUM
cblr-1719	448	2	]	]	X
cblr-1719	448	3	controlling	control	VERB
cblr-1719	448	4	-	-	PUNCT
cblr-1719	448	5	minority	minority	NOUN
cblr-1719	448	6	shareholders	shareholder	NOUN
cblr-1719	448	7	489	489	NUM
cblr-1719	448	8	amendments	amendment	NOUN
cblr-1719	448	9	in	in	ADP
cblr-1719	448	10	its	its	PRON
cblr-1719	448	11	ipo	ipo	NOUN
cblr-1719	448	12	charter	charter	NOUN
cblr-1719	448	13	.	.	PUNCT
cblr-1719	449	1	the	the	DET
cblr-1719	449	2	charter	charter	NOUN
cblr-1719	449	3	provides	provide	VERB
cblr-1719	449	4	that	that	SCONJ
cblr-1719	449	5	any	any	DET
cblr-1719	449	6	change	change	NOUN
cblr-1719	449	7	to	to	ADP
cblr-1719	449	8	the	the	DET
cblr-1719	449	9	nomination	nomination	NOUN
cblr-1719	449	10	rights	right	NOUN
cblr-1719	449	11	requires	require	VERB
cblr-1719	449	12	the	the	DET
cblr-1719	449	13	approval	approval	NOUN
cblr-1719	449	14	of	of	ADP
cblr-1719	449	15	95	95	NUM
cblr-1719	449	16	%	%	NOUN
cblr-1719	449	17	of	of	ADP
cblr-1719	449	18	all	all	DET
cblr-1719	449	19	shareholders	shareholder	NOUN
cblr-1719	449	20	at	at	ADP
cblr-1719	449	21	the	the	DET
cblr-1719	449	22	shareholders	shareholder	NOUN
cblr-1719	449	23	’	'	PUNCT
cblr-1719	449	24	meeting.152	meeting.152	PROPN
cblr-1719	449	25	the	the	DET
cblr-1719	449	26	near	near	ADJ
cblr-1719	449	27	unanimous	unanimous	ADJ
cblr-1719	449	28	consent	consent	NOUN
cblr-1719	449	29	requirement	requirement	NOUN
cblr-1719	449	30	for	for	ADP
cblr-1719	449	31	a	a	DET
cblr-1719	449	32	charter	charter	NOUN
cblr-1719	449	33	amendment	amendment	NOUN
cblr-1719	449	34	is	be	AUX
cblr-1719	449	35	unusual	unusual	ADJ
cblr-1719	449	36	,	,	PUNCT
cblr-1719	449	37	but	but	CCONJ
cblr-1719	449	38	legal	legal	ADJ
cblr-1719	449	39	,	,	PUNCT
cblr-1719	449	40	as	as	SCONJ
cblr-1719	449	41	there	there	PRON
cblr-1719	449	42	is	be	VERB
cblr-1719	449	43	no	no	DET
cblr-1719	449	44	restriction	restriction	NOUN
cblr-1719	449	45	on	on	ADP
cblr-1719	449	46	the	the	DET
cblr-1719	449	47	height	height	NOUN
cblr-1719	449	48	of	of	ADP
cblr-1719	449	49	the	the	DET
cblr-1719	449	50	voting	voting	NOUN
cblr-1719	449	51	requirement	requirement	NOUN
cblr-1719	449	52	ceiling	ceiling	NOUN
cblr-1719	449	53	.	.	PUNCT
cblr-1719	450	1	however	however	ADV
cblr-1719	450	2	,	,	PUNCT
cblr-1719	450	3	requiring	require	VERB
cblr-1719	450	4	unanimity	unanimity	NOUN
cblr-1719	450	5	in	in	ADP
cblr-1719	450	6	a	a	DET
cblr-1719	450	7	charter	charter	NOUN
cblr-1719	450	8	amendment	amendment	NOUN
cblr-1719	450	9	creates	create	VERB
cblr-1719	450	10	a	a	DET
cblr-1719	450	11	holdout	holdout	NOUN
cblr-1719	450	12	problem	problem	NOUN
cblr-1719	450	13	.	.	PUNCT
cblr-1719	451	1	one	one	NUM
cblr-1719	451	2	or	or	CCONJ
cblr-1719	451	3	more	more	ADJ
cblr-1719	451	4	shareholders	shareholder	NOUN
cblr-1719	451	5	may	may	AUX
cblr-1719	451	6	engage	engage	VERB
cblr-1719	451	7	in	in	ADP
cblr-1719	451	8	holdout	holdout	NOUN
cblr-1719	451	9	behavior	behavior	NOUN
cblr-1719	451	10	where	where	SCONJ
cblr-1719	451	11	,	,	PUNCT
cblr-1719	451	12	in	in	ADP
cblr-1719	451	13	exchange	exchange	NOUN
cblr-1719	451	14	for	for	ADP
cblr-1719	451	15	some	some	DET
cblr-1719	451	16	extra	extra	ADJ
cblr-1719	451	17	private	private	ADJ
cblr-1719	451	18	benefits	benefit	NOUN
cblr-1719	451	19	,	,	PUNCT
cblr-1719	451	20	they	they	PRON
cblr-1719	451	21	may	may	AUX
cblr-1719	451	22	deny	deny	VERB
cblr-1719	451	23	consent	consent	NOUN
cblr-1719	451	24	for	for	ADP
cblr-1719	451	25	amendments	amendment	NOUN
cblr-1719	451	26	that	that	PRON
cblr-1719	451	27	are	be	AUX
cblr-1719	451	28	value	value	NOUN
cblr-1719	451	29	-	-	PUNCT
cblr-1719	451	30	enhancing	enhance	VERB
cblr-1719	451	31	to	to	ADP
cblr-1719	451	32	all	all	DET
cblr-1719	451	33	shareholders.153	shareholders.153	NOUN
cblr-1719	451	34	therefore	therefore	ADV
cblr-1719	451	35	,	,	PUNCT
cblr-1719	451	36	alibaba	alibaba	PROPN
cblr-1719	451	37	’s	’s	PART
cblr-1719	451	38	near	near	ADJ
cblr-1719	451	39	-	-	PUNCT
cblr-1719	451	40	unanimity	unanimity	NOUN
cblr-1719	451	41	requirement	requirement	NOUN
cblr-1719	451	42	for	for	ADP
cblr-1719	451	43	charter	charter	NOUN
cblr-1719	451	44	amendment	amendment	NOUN
cblr-1719	451	45	leads	lead	VERB
cblr-1719	451	46	to	to	ADP
cblr-1719	451	47	greater	great	ADJ
cblr-1719	451	48	entrenchment	entrenchment	ADJ
cblr-1719	451	49	agency	agency	NOUN
cblr-1719	451	50	costs	cost	NOUN
cblr-1719	451	51	to	to	ADP
cblr-1719	451	52	minority	minority	NOUN
cblr-1719	451	53	shareholders	shareholder	NOUN
cblr-1719	451	54	.	.	PUNCT
cblr-1719	452	1	similarly	similarly	ADV
cblr-1719	452	2	,	,	PUNCT
cblr-1719	452	3	google	google	PROPN
cblr-1719	452	4	inserted	insert	VERB
cblr-1719	452	5	several	several	ADJ
cblr-1719	452	6	protective	protective	ADJ
cblr-1719	452	7	provisions	provision	NOUN
cblr-1719	452	8	to	to	PART
cblr-1719	452	9	prevent	prevent	VERB
cblr-1719	452	10	its	its	PRON
cblr-1719	452	11	shareholders	shareholder	NOUN
cblr-1719	452	12	from	from	ADP
cblr-1719	452	13	repealing	repeal	VERB
cblr-1719	452	14	its	its	PRON
cblr-1719	452	15	leveraged	leveraged	ADJ
cblr-1719	452	16	control	control	NOUN
cblr-1719	452	17	structure	structure	NOUN
cblr-1719	452	18	through	through	ADP
cblr-1719	452	19	midstream	midstream	NOUN
cblr-1719	452	20	amendments	amendment	NOUN
cblr-1719	452	21	.	.	PUNCT
cblr-1719	453	1	google	google	PROPN
cblr-1719	453	2	,	,	PUNCT
cblr-1719	453	3	as	as	ADP
cblr-1719	453	4	a	a	DET
cblr-1719	453	5	representative	representative	ADJ
cblr-1719	453	6	case	case	NOUN
cblr-1719	453	7	for	for	ADP
cblr-1719	453	8	controlling	control	VERB
cblr-1719	453	9	-	-	PUNCT
cblr-1719	453	10	minority	minority	NOUN
cblr-1719	453	11	structure	structure	NOUN
cblr-1719	453	12	in	in	ADP
cblr-1719	453	13	the	the	DET
cblr-1719	453	14	united	united	PROPN
cblr-1719	453	15	states	states	PROPN
cblr-1719	453	16	,	,	PUNCT
cblr-1719	453	17	issued	issue	VERB
cblr-1719	453	18	two	two	NUM
cblr-1719	453	19	classes	class	NOUN
cblr-1719	453	20	of	of	ADP
cblr-1719	453	21	shares	share	NOUN
cblr-1719	453	22	upon	upon	SCONJ
cblr-1719	453	23	its	its	PRON
cblr-1719	453	24	ipo	ipo	NOUN
cblr-1719	453	25	.	.	PUNCT
cblr-1719	454	1	class	class	PROPN
cblr-1719	454	2	a	a	PRON
cblr-1719	454	3	carries	carry	VERB
cblr-1719	454	4	one	one	NUM
cblr-1719	454	5	vote	vote	NOUN
cblr-1719	454	6	per	per	ADP
cblr-1719	454	7	share	share	NOUN
cblr-1719	454	8	,	,	PUNCT
cblr-1719	454	9	while	while	SCONJ
cblr-1719	454	10	class	class	NOUN
cblr-1719	454	11	b	b	PROPN
cblr-1719	454	12	carries	carry	VERB
cblr-1719	454	13	ten	ten	NUM
cblr-1719	454	14	votes	vote	NOUN
cblr-1719	454	15	per	per	ADP
cblr-1719	454	16	share	share	NOUN
cblr-1719	454	17	.	.	PUNCT
cblr-1719	455	1	class	class	NOUN
cblr-1719	455	2	b	b	PROPN
cblr-1719	455	3	shares	share	NOUN
cblr-1719	455	4	are	be	AUX
cblr-1719	455	5	issued	issue	VERB
cblr-1719	455	6	to	to	ADP
cblr-1719	455	7	founders	founder	NOUN
cblr-1719	455	8	,	,	PUNCT
cblr-1719	455	9	executives	executive	NOUN
cblr-1719	455	10	,	,	PUNCT
cblr-1719	455	11	and	and	CCONJ
cblr-1719	455	12	directors	director	NOUN
cblr-1719	455	13	,	,	PUNCT
cblr-1719	455	14	whereas	whereas	SCONJ
cblr-1719	455	15	class	class	NOUN
cblr-1719	455	16	a	a	DET
cblr-1719	455	17	shares	share	NOUN
cblr-1719	455	18	are	be	AUX
cblr-1719	455	19	issued	issue	VERB
cblr-1719	455	20	to	to	ADP
cblr-1719	455	21	the	the	DET
cblr-1719	455	22	public.154	public.154	NOUN
cblr-1719	455	23	two	two	NUM
cblr-1719	455	24	protective	protective	ADJ
cblr-1719	455	25	provisions	provision	NOUN
cblr-1719	455	26	operate	operate	VERB
cblr-1719	455	27	to	to	PART
cblr-1719	455	28	prevent	prevent	VERB
cblr-1719	455	29	making	make	VERB
cblr-1719	455	30	a	a	DET
cblr-1719	455	31	midstream	midstream	NOUN
cblr-1719	455	32	change	change	NOUN
cblr-1719	455	33	to	to	ADP
cblr-1719	455	34	the	the	DET
cblr-1719	455	35	founders	founder	NOUN
cblr-1719	455	36	’	’	PART
cblr-1719	455	37	leveraged	leveraged	ADJ
cblr-1719	455	38	control	control	NOUN
cblr-1719	455	39	.	.	PUNCT
cblr-1719	456	1	the	the	DET
cblr-1719	456	2	first	first	ADJ
cblr-1719	456	3	provision	provision	NOUN
cblr-1719	456	4	is	be	AUX
cblr-1719	456	5	similar	similar	ADJ
cblr-1719	456	6	to	to	ADP
cblr-1719	456	7	the	the	DET
cblr-1719	456	8	supermajority	supermajority	NOUN
cblr-1719	456	9	vote	vote	NOUN
cblr-1719	456	10	requirement	requirement	NOUN
cblr-1719	456	11	for	for	ADP
cblr-1719	456	12	charter	charter	NOUN
cblr-1719	456	13	amendments	amendment	NOUN
cblr-1719	456	14	.	.	PUNCT
cblr-1719	457	1	in	in	ADP
cblr-1719	457	2	article	article	NOUN
cblr-1719	457	3	12	12	NUM
cblr-1719	457	4	of	of	ADP
cblr-1719	457	5	google	google	PROPN
cblr-1719	457	6	’s	’s	PART
cblr-1719	457	7	ipo	ipo	NOUN
cblr-1719	457	8	charter	charter	NOUN
cblr-1719	457	9	,	,	PUNCT
cblr-1719	457	10	any	any	DET
cblr-1719	457	11	amendment	amendment	NOUN
cblr-1719	457	12	to	to	ADP
cblr-1719	457	13	,	,	PUNCT
cblr-1719	457	14	or	or	CCONJ
cblr-1719	457	15	repeal	repeal	NOUN
cblr-1719	457	16	of	of	ADP
cblr-1719	457	17	,	,	PUNCT
cblr-1719	457	18	the	the	DET
cblr-1719	457	19	152	152	NUM
cblr-1719	457	20	alibaba	alibaba	PROPN
cblr-1719	457	21	grp	grp	PROPN
cblr-1719	457	22	.	.	PUNCT
cblr-1719	457	23	holding	hold	VERB
cblr-1719	457	24	ltd	ltd	PROPN
cblr-1719	457	25	.	.	PROPN
cblr-1719	457	26	,	,	PUNCT
cblr-1719	457	27	ex	ex	PROPN
cblr-1719	457	28	.	.	PROPN
cblr-1719	457	29	3.2	3.2	NUM
cblr-1719	457	30	amended	amend	VERB
cblr-1719	457	31	and	and	CCONJ
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cblr-1719	457	33	memorandum	memorandum	NOUN
cblr-1719	457	34	and	and	CCONJ
cblr-1719	457	35	articles	article	NOUN
cblr-1719	457	36	of	of	ADP
cblr-1719	457	37	association	association	NOUN
cblr-1719	457	38	of	of	ADP
cblr-1719	457	39	alibaba	alibaba	PROPN
cblr-1719	457	40	group	group	NOUN
cblr-1719	457	41	holding	hold	VERB
cblr-1719	457	42	limited	limit	VERB
cblr-1719	457	43	6	6	NUM
cblr-1719	457	44	(	(	PUNCT
cblr-1719	457	45	form	form	NOUN
cblr-1719	457	46	f-1	f-1	NOUN
cblr-1719	457	47	)	)	PUNCT
cblr-1719	457	48	(	(	PUNCT
cblr-1719	457	49	june	june	PROPN
cblr-1719	457	50	5	5	NUM
cblr-1719	457	51	,	,	PUNCT
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cblr-1719	457	54	,	,	PUNCT
cblr-1719	457	55	https://www.sec.gov/	https://www.sec.gov/	VERB
cblr-1719	457	56	archives	archive	NOUN
cblr-1719	457	57	/	/	SYM
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cblr-1719	458	1	[	[	X
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cblr-1719	458	4	(	(	PUNCT
cblr-1719	458	5	“	"	PUNCT
cblr-1719	458	6	special	special	ADJ
cblr-1719	458	7	resolution	resolution	NOUN
cblr-1719	458	8	.	.	PUNCT
cblr-1719	458	9	.	.	PUNCT
cblr-1719	458	10	.	.	PUNCT
cblr-1719	459	1	being	be	AUX
cblr-1719	459	2	a	a	DET
cblr-1719	459	3	resolution	resolution	NOUN
cblr-1719	459	4	:	:	PUNCT
cblr-1719	459	5	(	(	PUNCT
cblr-1719	459	6	a	a	X
cblr-1719	459	7	)	)	PUNCT
cblr-1719	459	8	passed	pass	VERB
cblr-1719	459	9	by	by	ADP
cblr-1719	459	10	a	a	DET
cblr-1719	459	11	majority	majority	NOUN
cblr-1719	459	12	of	of	ADP
cblr-1719	459	13	not	not	PART
cblr-1719	459	14	less	less	ADJ
cblr-1719	459	15	than	than	ADP
cblr-1719	459	16	three	three	NUM
cblr-1719	459	17	-	-	PUNCT
cblr-1719	459	18	fourths	fourth	NOUN
cblr-1719	459	19	(	(	PUNCT
cblr-1719	459	20	or	or	CCONJ
cblr-1719	459	21	,	,	PUNCT
cblr-1719	459	22	in	in	ADP
cblr-1719	459	23	respect	respect	NOUN
cblr-1719	459	24	of	of	ADP
cblr-1719	459	25	any	any	DET
cblr-1719	459	26	resolution	resolution	NOUN
cblr-1719	459	27	relating	relate	VERB
cblr-1719	459	28	to	to	ADP
cblr-1719	459	29	a	a	DET
cblr-1719	459	30	special	special	ADJ
cblr-1719	459	31	partnership	partnership	NOUN
cblr-1719	459	32	matter	matter	NOUN
cblr-1719	459	33	,	,	PUNCT
cblr-1719	459	34	or	or	CCONJ
cblr-1719	459	35	in	in	ADP
cblr-1719	459	36	any	any	DET
cblr-1719	459	37	way	way	NOUN
cblr-1719	459	38	having	have	VERB
cblr-1719	459	39	the	the	DET
cblr-1719	459	40	effect	effect	NOUN
cblr-1719	459	41	of	of	ADP
cblr-1719	459	42	affecting	affect	VERB
cblr-1719	459	43	a	a	DET
cblr-1719	459	44	special	special	ADJ
cblr-1719	459	45	partnership	partnership	NOUN
cblr-1719	459	46	matter	matter	NOUN
cblr-1719	459	47	,	,	PUNCT
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cblr-1719	459	49	,	,	PUNCT
cblr-1719	459	50	without	without	ADP
cblr-1719	459	51	limitation	limitation	NOUN
cblr-1719	459	52	,	,	PUNCT
cblr-1719	459	53	any	any	DET
cblr-1719	459	54	amendment	amendment	NOUN
cblr-1719	459	55	to	to	ADP
cblr-1719	459	56	the	the	DET
cblr-1719	459	57	provisions	provision	NOUN
cblr-1719	459	58	of	of	ADP
cblr-1719	459	59	the	the	DET
cblr-1719	459	60	memorandum	memorandum	NOUN
cblr-1719	459	61	or	or	CCONJ
cblr-1719	459	62	articles	article	NOUN
cblr-1719	459	63	which	which	PRON
cblr-1719	459	64	relate	relate	VERB
cblr-1719	459	65	to	to	ADP
cblr-1719	459	66	a	a	DET
cblr-1719	459	67	special	special	ADJ
cblr-1719	459	68	partnership	partnership	NOUN
cblr-1719	459	69	matter	matter	NOUN
cblr-1719	459	70	,	,	PUNCT
cblr-1719	459	71	by	by	ADP
cblr-1719	459	72	95	95	NUM
cblr-1719	459	73	%	%	NOUN
cblr-1719	459	74	.	.	PUNCT
cblr-1719	459	75	.	.	PUNCT
cblr-1719	459	76	.	.	PUNCT
cblr-1719	459	77	)	)	PUNCT
cblr-1719	459	78	”	"	PUNCT
cblr-1719	459	79	)	)	PUNCT
cblr-1719	459	80	.	.	PUNCT
cblr-1719	460	1	153	153	NUM
cblr-1719	460	2	bebchuk	bebchuk	NOUN
cblr-1719	460	3	,	,	PUNCT
cblr-1719	460	4	supra	supra	PROPN
cblr-1719	460	5	note	note	PROPN
cblr-1719	460	6	108	108	NUM
cblr-1719	460	7	,	,	PUNCT
cblr-1719	460	8	at	at	ADP
cblr-1719	460	9	1830–31	1830–31	PROPN
cblr-1719	460	10	.	.	PUNCT
cblr-1719	461	1	154	154	NUM
cblr-1719	461	2	google	google	PROPN
cblr-1719	461	3	inc	inc	PROPN
cblr-1719	461	4	.	.	PROPN
cblr-1719	461	5	,	,	PUNCT
cblr-1719	461	6	final	final	ADJ
cblr-1719	461	7	prospectus	prospectus	NOUN
cblr-1719	461	8	(	(	PUNCT
cblr-1719	461	9	form	form	NOUN
cblr-1719	461	10	424b4	424b4	NUM
cblr-1719	461	11	)	)	PUNCT
cblr-1719	461	12	,	,	PUNCT
cblr-1719	461	13	at	at	ADP
cblr-1719	461	14	102–03	102–03	PROPN
cblr-1719	461	15	(	(	PUNCT
cblr-1719	461	16	aug	aug	PROPN
cblr-1719	461	17	.	.	PROPN
cblr-1719	461	18	18	18	NUM
cblr-1719	461	19	,	,	PUNCT
cblr-1719	461	20	2004	2004	NUM
cblr-1719	461	21	)	)	PUNCT
cblr-1719	461	22	,	,	PUNCT
cblr-1719	461	23	https://www.sec.gov/archives/edgar/data/1288776/	https://www.sec.gov/archives/edgar/data/1288776/	NOUN
cblr-1719	461	24	000119312504143377	000119312504143377	NUM
cblr-1719	461	25	/	/	SYM
cblr-1719	461	26	d424b4.htm	d424b4.htm	PROPN
cblr-1719	462	1	[	[	X
cblr-1719	462	2	https://perma.cc/ll5q-jqpf	https://perma.cc/ll5q-jqpf	X
cblr-1719	462	3	]	]	PUNCT
cblr-1719	462	4	.	.	PUNCT
cblr-1719	463	1	lin	lin	PROPN
cblr-1719	463	2	–	–	PUNCT
cblr-1719	463	3	final	final	ADJ
cblr-1719	463	4	490	490	NUM
cblr-1719	463	5	columbia	columbia	PROPN
cblr-1719	463	6	business	business	NOUN
cblr-1719	463	7	law	law	PROPN
cblr-1719	463	8	review	review	NOUN
cblr-1719	463	9	[	[	X
cblr-1719	463	10	vol	vol	NOUN
cblr-1719	463	11	.	.	NOUN
cblr-1719	463	12	2017	2017	NUM
cblr-1719	463	13	dual	dual	ADJ
cblr-1719	463	14	-	-	PUNCT
cblr-1719	463	15	class	class	NOUN
cblr-1719	463	16	share	share	NOUN
cblr-1719	463	17	structure	structure	NOUN
cblr-1719	463	18	will	will	AUX
cblr-1719	463	19	require	require	VERB
cblr-1719	463	20	unanimous	unanimous	ADJ
cblr-1719	463	21	consent	consent	NOUN
cblr-1719	463	22	from	from	ADP
cblr-1719	463	23	the	the	DET
cblr-1719	463	24	board	board	NOUN
cblr-1719	463	25	of	of	ADP
cblr-1719	463	26	directors	director	NOUN
cblr-1719	463	27	,	,	PUNCT
cblr-1719	463	28	as	as	ADV
cblr-1719	463	29	well	well	ADV
cblr-1719	463	30	as	as	ADP
cblr-1719	463	31	the	the	DET
cblr-1719	463	32	affirmative	affirmative	ADJ
cblr-1719	463	33	vote	vote	NOUN
cblr-1719	463	34	of	of	ADP
cblr-1719	463	35	the	the	DET
cblr-1719	463	36	holders	holder	NOUN
cblr-1719	463	37	of	of	ADP
cblr-1719	463	38	at	at	ADP
cblr-1719	463	39	least	least	ADJ
cblr-1719	463	40	a	a	DET
cblr-1719	463	41	majority	majority	NOUN
cblr-1719	463	42	of	of	ADP
cblr-1719	463	43	the	the	DET
cblr-1719	463	44	voting	voting	NOUN
cblr-1719	463	45	power.155	power.155	NOUN
cblr-1719	463	46	although	although	SCONJ
cblr-1719	463	47	the	the	DET
cblr-1719	463	48	threshold	threshold	NOUN
cblr-1719	463	49	for	for	ADP
cblr-1719	463	50	the	the	DET
cblr-1719	463	51	shareholder	shareholder	NOUN
cblr-1719	463	52	vote	vote	NOUN
cblr-1719	463	53	is	be	AUX
cblr-1719	463	54	a	a	DET
cblr-1719	463	55	majority	majority	NOUN
cblr-1719	463	56	,	,	PUNCT
cblr-1719	463	57	instead	instead	ADV
cblr-1719	463	58	of	of	ADP
cblr-1719	463	59	a	a	DET
cblr-1719	463	60	supermajority	supermajority	NOUN
cblr-1719	463	61	,	,	PUNCT
cblr-1719	463	62	this	this	DET
cblr-1719	463	63	provision	provision	NOUN
cblr-1719	463	64	requires	require	VERB
cblr-1719	463	65	unanimous	unanimous	ADJ
cblr-1719	463	66	consent	consent	NOUN
cblr-1719	463	67	from	from	ADP
cblr-1719	463	68	all	all	DET
cblr-1719	463	69	directors	director	NOUN
cblr-1719	463	70	.	.	PUNCT
cblr-1719	464	1	since	since	SCONJ
cblr-1719	464	2	the	the	DET
cblr-1719	464	3	directors	director	NOUN
cblr-1719	464	4	are	be	AUX
cblr-1719	464	5	also	also	ADV
cblr-1719	464	6	holders	holder	NOUN
cblr-1719	464	7	of	of	ADP
cblr-1719	464	8	multiple	multiple	ADJ
cblr-1719	464	9	voting	voting	NOUN
cblr-1719	464	10	rights	right	NOUN
cblr-1719	464	11	shares	share	NOUN
cblr-1719	464	12	,	,	PUNCT
cblr-1719	464	13	such	such	DET
cblr-1719	464	14	a	a	DET
cblr-1719	464	15	provision	provision	NOUN
cblr-1719	464	16	effectively	effectively	ADV
cblr-1719	464	17	precludes	preclude	VERB
cblr-1719	464	18	the	the	DET
cblr-1719	464	19	possibility	possibility	NOUN
cblr-1719	464	20	of	of	ADP
cblr-1719	464	21	passing	pass	VERB
cblr-1719	464	22	any	any	DET
cblr-1719	464	23	midstream	midstream	NOUN
cblr-1719	464	24	amendments	amendment	NOUN
cblr-1719	464	25	seeking	seek	VERB
cblr-1719	464	26	to	to	PART
cblr-1719	464	27	amend	amend	VERB
cblr-1719	464	28	or	or	CCONJ
cblr-1719	464	29	repeal	repeal	VERB
cblr-1719	464	30	the	the	DET
cblr-1719	464	31	dual	dual	ADJ
cblr-1719	464	32	-	-	PUNCT
cblr-1719	464	33	class	class	NOUN
cblr-1719	464	34	share	share	NOUN
cblr-1719	464	35	structure	structure	NOUN
cblr-1719	464	36	.	.	PUNCT
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cblr-1719	465	4	to	to	ADP
cblr-1719	465	5	changing	change	VERB
cblr-1719	465	6	google	google	PROPN
cblr-1719	465	7	’s	’s	PART
cblr-1719	465	8	controlling	control	VERB
cblr-1719	465	9	-	-	PUNCT
cblr-1719	465	10	minority	minority	NOUN
cblr-1719	465	11	structure	structure	NOUN
cblr-1719	465	12	midstream	midstream	NOUN
cblr-1719	465	13	is	be	AUX
cblr-1719	465	14	that	that	SCONJ
cblr-1719	465	15	any	any	DET
cblr-1719	465	16	change	change	NOUN
cblr-1719	465	17	to	to	ADP
cblr-1719	465	18	the	the	DET
cblr-1719	465	19	special	special	ADJ
cblr-1719	465	20	powers	power	NOUN
cblr-1719	465	21	,	,	PUNCT
cblr-1719	465	22	preferences	preference	NOUN
cblr-1719	465	23	,	,	PUNCT
cblr-1719	465	24	or	or	CCONJ
cblr-1719	465	25	rights	right	NOUN
cblr-1719	465	26	of	of	ADP
cblr-1719	465	27	a	a	DET
cblr-1719	465	28	class	class	NOUN
cblr-1719	465	29	of	of	ADP
cblr-1719	465	30	stock	stock	NOUN
cblr-1719	465	31	in	in	ADP
cblr-1719	465	32	an	an	DET
cblr-1719	465	33	adverse	adverse	ADJ
cblr-1719	465	34	way	way	NOUN
cblr-1719	465	35	would	would	AUX
cblr-1719	465	36	require	require	VERB
cblr-1719	465	37	that	that	DET
cblr-1719	465	38	class	class	NOUN
cblr-1719	465	39	to	to	PART
cblr-1719	465	40	vote	vote	VERB
cblr-1719	465	41	separately	separately	ADV
cblr-1719	465	42	to	to	PART
cblr-1719	465	43	approve	approve	VERB
cblr-1719	465	44	the	the	DET
cblr-1719	465	45	proposed	propose	VERB
cblr-1719	465	46	amendment.156	amendment.156	NOUN
cblr-1719	465	47	again	again	ADV
cblr-1719	465	48	,	,	PUNCT
cblr-1719	465	49	if	if	SCONJ
cblr-1719	465	50	the	the	DET
cblr-1719	465	51	shareholders	shareholder	NOUN
cblr-1719	465	52	wish	wish	VERB
cblr-1719	465	53	to	to	PART
cblr-1719	465	54	change	change	VERB
cblr-1719	465	55	the	the	DET
cblr-1719	465	56	right	right	NOUN
cblr-1719	465	57	of	of	ADP
cblr-1719	465	58	multiple	multiple	ADJ
cblr-1719	465	59	voting	voting	NOUN
cblr-1719	465	60	rights	right	NOUN
cblr-1719	465	61	shares	share	NOUN
cblr-1719	465	62	,	,	PUNCT
cblr-1719	465	63	an	an	DET
cblr-1719	465	64	approval	approval	NOUN
cblr-1719	465	65	from	from	ADP
cblr-1719	465	66	the	the	DET
cblr-1719	465	67	founders	founder	NOUN
cblr-1719	465	68	of	of	ADP
cblr-1719	465	69	google	google	PROPN
cblr-1719	465	70	is	be	AUX
cblr-1719	465	71	required	require	VERB
cblr-1719	465	72	.	.	PUNCT
cblr-1719	466	1	the	the	DET
cblr-1719	466	2	fact	fact	NOUN
cblr-1719	466	3	that	that	SCONJ
cblr-1719	466	4	firms	firm	NOUN
cblr-1719	466	5	adopt	adopt	VERB
cblr-1719	466	6	a	a	DET
cblr-1719	466	7	supermajority	supermajority	NOUN
cblr-1719	466	8	vote	vote	NOUN
cblr-1719	466	9	requirement	requirement	NOUN
cblr-1719	466	10	for	for	ADP
cblr-1719	466	11	amending	amend	VERB
cblr-1719	466	12	charters	charter	NOUN
cblr-1719	466	13	is	be	AUX
cblr-1719	466	14	especially	especially	ADV
cblr-1719	466	15	problematic	problematic	ADJ
cblr-1719	466	16	in	in	ADP
cblr-1719	466	17	leveraged	leveraged	ADJ
cblr-1719	466	18	control	control	NOUN
cblr-1719	466	19	firms	firm	NOUN
cblr-1719	466	20	.	.	PUNCT
cblr-1719	467	1	a	a	DET
cblr-1719	467	2	supermajority	supermajority	NOUN
cblr-1719	467	3	vote	vote	NOUN
cblr-1719	467	4	provision	provision	NOUN
cblr-1719	467	5	typically	typically	ADV
cblr-1719	467	6	requires	require	VERB
cblr-1719	467	7	the	the	DET
cblr-1719	467	8	approval	approval	NOUN
cblr-1719	467	9	of	of	ADP
cblr-1719	467	10	between	between	ADP
cblr-1719	467	11	two	two	NUM
cblr-1719	467	12	-	-	PUNCT
cblr-1719	467	13	thirds	third	NOUN
cblr-1719	467	14	to	to	ADP
cblr-1719	467	15	three	three	NUM
cblr-1719	467	16	-	-	PUNCT
cblr-1719	467	17	quarters	quarter	NOUN
cblr-1719	467	18	of	of	ADP
cblr-1719	467	19	the	the	DET
cblr-1719	467	20	voting	voting	NOUN
cblr-1719	467	21	rights	right	NOUN
cblr-1719	467	22	.	.	PUNCT
cblr-1719	468	1	that	that	PRON
cblr-1719	468	2	means	mean	VERB
cblr-1719	468	3	that	that	SCONJ
cblr-1719	468	4	,	,	PUNCT
cblr-1719	468	5	at	at	ADP
cblr-1719	468	6	most	most	ADJ
cblr-1719	468	7	,	,	PUNCT
cblr-1719	468	8	controllers	controller	NOUN
cblr-1719	468	9	only	only	ADV
cblr-1719	468	10	need	need	VERB
cblr-1719	468	11	to	to	PART
cblr-1719	468	12	control	control	VERB
cblr-1719	468	13	one	one	NUM
cblr-1719	468	14	-	-	PUNCT
cblr-1719	468	15	third	third	NOUN
cblr-1719	468	16	of	of	ADP
cblr-1719	468	17	the	the	DET
cblr-1719	468	18	voting	voting	NOUN
cblr-1719	468	19	power	power	NOUN
cblr-1719	468	20	to	to	PART
cblr-1719	468	21	outvote	outvote	VERB
cblr-1719	468	22	an	an	DET
cblr-1719	468	23	amendment	amendment	NOUN
cblr-1719	468	24	proposal	proposal	NOUN
cblr-1719	468	25	suggested	suggest	VERB
cblr-1719	468	26	by	by	ADP
cblr-1719	468	27	outside	outside	ADJ
cblr-1719	468	28	shareholders	shareholder	NOUN
cblr-1719	468	29	.	.	PUNCT
cblr-1719	469	1	with	with	ADP
cblr-1719	469	2	leveraged	leveraged	ADJ
cblr-1719	469	3	control	control	NOUN
cblr-1719	469	4	mechanisms	mechanism	NOUN
cblr-1719	469	5	in	in	ADP
cblr-1719	469	6	place	place	NOUN
cblr-1719	469	7	,	,	PUNCT
cblr-1719	469	8	controllers	controller	NOUN
cblr-1719	469	9	can	can	AUX
cblr-1719	469	10	easily	easily	ADV
cblr-1719	469	11	control	control	VERB
cblr-1719	469	12	one	one	NUM
cblr-1719	469	13	-	-	PUNCT
cblr-1719	469	14	third	third	NOUN
cblr-1719	469	15	of	of	ADP
cblr-1719	469	16	the	the	DET
cblr-1719	469	17	total	total	ADJ
cblr-1719	469	18	voting	voting	NOUN
cblr-1719	469	19	rights	right	NOUN
cblr-1719	469	20	.	.	PUNCT
cblr-1719	470	1	contrary	contrary	ADJ
cblr-1719	470	2	to	to	ADP
cblr-1719	470	3	the	the	DET
cblr-1719	470	4	traditional	traditional	ADJ
cblr-1719	470	5	view	view	NOUN
cblr-1719	470	6	of	of	ADP
cblr-1719	470	7	a	a	DET
cblr-1719	470	8	supermajority	supermajority	NOUN
cblr-1719	470	9	vote	vote	NOUN
cblr-1719	470	10	as	as	ADP
cblr-1719	470	11	a	a	DET
cblr-1719	470	12	shareholder	shareholder	NOUN
cblr-1719	470	13	protection	protection	NOUN
cblr-1719	470	14	mechanism	mechanism	NOUN
cblr-1719	470	15	,	,	PUNCT
cblr-1719	470	16	the	the	DET
cblr-1719	470	17	supermajority	supermajority	NOUN
cblr-1719	470	18	provision	provision	NOUN
cblr-1719	470	19	actually	actually	ADV
cblr-1719	470	20	operates	operate	VERB
cblr-1719	470	21	to	to	PART
cblr-1719	470	22	achieve	achieve	VERB
cblr-1719	470	23	the	the	DET
cblr-1719	470	24	opposite	opposite	ADJ
cblr-1719	470	25	effect	effect	NOUN
cblr-1719	470	26	of	of	ADP
cblr-1719	470	27	entrenching	entrench	VERB
cblr-1719	470	28	insiders	insider	NOUN
cblr-1719	470	29	.	.	PUNCT
cblr-1719	471	1	therefore	therefore	ADV
cblr-1719	471	2	,	,	PUNCT
cblr-1719	471	3	the	the	DET
cblr-1719	471	4	155	155	NUM
cblr-1719	471	5	google	google	PROPN
cblr-1719	471	6	inc	inc	PROPN
cblr-1719	471	7	.	.	PROPN
cblr-1719	471	8	,	,	PUNCT
cblr-1719	471	9	ex	ex	X
cblr-1719	471	10	.	.	NOUN
cblr-1719	471	11	3.01.2	3.01.2	NUM
cblr-1719	471	12	third	third	ADV
cblr-1719	471	13	amended	amend	VERB
cblr-1719	471	14	and	and	CCONJ
cblr-1719	471	15	restated	restate	VERB
cblr-1719	471	16	certificate	certificate	NOUN
cblr-1719	471	17	of	of	ADP
cblr-1719	471	18	incorporation	incorporation	NOUN
cblr-1719	471	19	of	of	ADP
cblr-1719	471	20	google	google	PROPN
cblr-1719	471	21	inc	inc	PROPN
cblr-1719	471	22	.	.	PROPN
cblr-1719	471	23	11	11	NUM
cblr-1719	471	24	art	art	NOUN
cblr-1719	471	25	.	.	PUNCT
cblr-1719	472	1	12	12	NUM
cblr-1719	472	2	(	(	PUNCT
cblr-1719	472	3	form	form	VERB
cblr-1719	472	4	s-1	s-1	PROPN
cblr-1719	472	5	/	/	SYM
cblr-1719	472	6	a	a	NOUN
cblr-1719	472	7	)	)	PUNCT
cblr-1719	472	8	(	(	PUNCT
cblr-1719	472	9	aug	aug	PROPN
cblr-1719	472	10	.	.	PROPN
cblr-1719	472	11	9	9	NUM
cblr-1719	472	12	,	,	PUNCT
cblr-1719	472	13	2004	2004	NUM
cblr-1719	472	14	)	)	PUNCT
cblr-1719	472	15	,	,	PUNCT
cblr-1719	472	16	https://www.sec.gov/archives/edgar/data/1288776/000119312504135503/de	https://www.sec.gov/archives/edgar/data/1288776/000119312504135503/de	PROPN
cblr-1719	473	1	x3012.htm	x3012.htm	PROPN
cblr-1719	474	1	[	[	X
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cblr-1719	474	3	]	]	X
cblr-1719	474	4	(	(	PUNCT
cblr-1719	474	5	“	"	PUNCT
cblr-1719	474	6	(	(	PUNCT
cblr-1719	474	7	i	i	NOUN
cblr-1719	474	8	)	)	PUNCT
cblr-1719	474	9	the	the	DET
cblr-1719	474	10	unanimous	unanimous	ADJ
cblr-1719	474	11	consent	consent	NOUN
cblr-1719	474	12	of	of	ADP
cblr-1719	474	13	board	board	NOUN
cblr-1719	474	14	of	of	ADP
cblr-1719	474	15	directors	director	NOUN
cblr-1719	474	16	then	then	ADV
cblr-1719	474	17	in	in	ADP
cblr-1719	474	18	office	office	NOUN
cblr-1719	474	19	,	,	PUNCT
cblr-1719	474	20	and	and	CCONJ
cblr-1719	474	21	the	the	DET
cblr-1719	474	22	affirmative	affirmative	ADJ
cblr-1719	474	23	vote	vote	NOUN
cblr-1719	474	24	of	of	ADP
cblr-1719	474	25	the	the	DET
cblr-1719	474	26	holders	holder	NOUN
cblr-1719	474	27	at	at	ADP
cblr-1719	474	28	least	least	ADJ
cblr-1719	474	29	a	a	DET
cblr-1719	474	30	majority	majority	NOUN
cblr-1719	474	31	of	of	ADP
cblr-1719	474	32	the	the	DET
cblr-1719	474	33	voting	voting	NOUN
cblr-1719	474	34	power	power	NOUN
cblr-1719	474	35	of	of	ADP
cblr-1719	474	36	the	the	DET
cblr-1719	474	37	issued	issue	VERB
cblr-1719	474	38	and	and	CCONJ
cblr-1719	474	39	outstanding	outstanding	ADJ
cblr-1719	474	40	shares	share	NOUN
cblr-1719	474	41	of	of	ADP
cblr-1719	474	42	capital	capital	NOUN
cblr-1719	474	43	stock	stock	NOUN
cblr-1719	474	44	of	of	ADP
cblr-1719	474	45	the	the	DET
cblr-1719	474	46	corporation	corporation	NOUN
cblr-1719	474	47	then	then	ADV
cblr-1719	474	48	entitled	entitle	VERB
cblr-1719	474	49	to	to	PART
cblr-1719	474	50	vote	vote	VERB
cblr-1719	474	51	,	,	PUNCT
cblr-1719	474	52	shall	shall	AUX
cblr-1719	474	53	be	be	AUX
cblr-1719	474	54	required	require	VERB
cblr-1719	474	55	to	to	PART
cblr-1719	474	56	amend	amend	VERB
cblr-1719	474	57	or	or	CCONJ
cblr-1719	474	58	repeal	repeal	NOUN
cblr-1719	474	59	article	article	NOUN
cblr-1719	474	60	iv	iv	NUM
cblr-1719	474	61	,	,	PUNCT
cblr-1719	474	62	section	section	NOUN
cblr-1719	474	63	2	2	NUM
cblr-1719	474	64	or	or	CCONJ
cblr-1719	474	65	this	this	DET
cblr-1719	474	66	clause	clause	NOUN
cblr-1719	474	67	(	(	PUNCT
cblr-1719	474	68	i	i	NOUN
cblr-1719	474	69	)	)	PUNCT
cblr-1719	474	70	of	of	ADP
cblr-1719	474	71	article	article	PROPN
cblr-1719	474	72	xii	xii	PROPN
cblr-1719	474	73	;	;	PUNCT
cblr-1719	474	74	”	"	PUNCT
cblr-1719	474	75	)	)	PUNCT
cblr-1719	474	76	.	.	PUNCT
cblr-1719	475	1	156	156	NUM
cblr-1719	475	2	del	del	PROPN
cblr-1719	475	3	.	.	PROPN
cblr-1719	475	4	code	code	PROPN
cblr-1719	475	5	.	.	PUNCT
cblr-1719	476	1	ann	ann	PROPN
cblr-1719	476	2	.	.	PUNCT
cblr-1719	477	1	tit	tit	PROPN
cblr-1719	477	2	.	.	PROPN
cblr-1719	478	1	8	8	NUM
cblr-1719	478	2	,	,	PUNCT
cblr-1719	478	3	§	§	PROPN
cblr-1719	478	4	242(b)(2	242(b)(2	NUM
cblr-1719	478	5	)	)	PUNCT
cblr-1719	478	6	(	(	PUNCT
cblr-1719	478	7	2016	2016	NUM
cblr-1719	478	8	)	)	PUNCT
cblr-1719	478	9	;	;	PUNCT
cblr-1719	479	1	google	google	PROPN
cblr-1719	479	2	inc	inc	PROPN
cblr-1719	479	3	.	.	PROPN
cblr-1719	479	4	,	,	PUNCT
cblr-1719	479	5	supra	supra	PROPN
cblr-1719	479	6	note	note	PROPN
cblr-1719	479	7	154	154	NUM
cblr-1719	479	8	,	,	PUNCT
cblr-1719	479	9	at	at	ADP
cblr-1719	479	10	105	105	NUM
cblr-1719	479	11	.	.	PUNCT
cblr-1719	480	1	lin	lin	PROPN
cblr-1719	480	2	–	–	PUNCT
cblr-1719	480	3	final	final	ADJ
cblr-1719	480	4	no	no	NOUN
cblr-1719	480	5	.	.	PUNCT
cblr-1719	480	6	2:453	2:453	NUM
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cblr-1719	480	8	controlling	control	VERB
cblr-1719	480	9	-	-	PUNCT
cblr-1719	480	10	minority	minority	NOUN
cblr-1719	480	11	shareholders	shareholder	NOUN
cblr-1719	480	12	491	491	NUM
cblr-1719	480	13	combination	combination	NOUN
cblr-1719	480	14	of	of	ADP
cblr-1719	480	15	control	control	NOUN
cblr-1719	480	16	-	-	PUNCT
cblr-1719	480	17	enhancing	enhance	VERB
cblr-1719	480	18	mechanisms	mechanism	NOUN
cblr-1719	480	19	and	and	CCONJ
cblr-1719	480	20	a	a	DET
cblr-1719	480	21	supermajority	supermajority	NOUN
cblr-1719	480	22	vote	vote	NOUN
cblr-1719	480	23	requirement	requirement	NOUN
cblr-1719	480	24	for	for	ADP
cblr-1719	480	25	charter	charter	NOUN
cblr-1719	480	26	amendment	amendment	NOUN
cblr-1719	480	27	deters	deter	VERB
cblr-1719	480	28	minority	minority	NOUN
cblr-1719	480	29	shareholders	shareholder	NOUN
cblr-1719	480	30	from	from	ADP
cblr-1719	480	31	adopting	adopt	VERB
cblr-1719	480	32	midstream	midstream	NOUN
cblr-1719	480	33	charter	charter	NOUN
cblr-1719	480	34	amendments	amendment	NOUN
cblr-1719	480	35	that	that	PRON
cblr-1719	480	36	would	would	AUX
cblr-1719	480	37	amend	amend	VERB
cblr-1719	480	38	or	or	CCONJ
cblr-1719	480	39	repeal	repeal	VERB
cblr-1719	480	40	an	an	DET
cblr-1719	480	41	inefficient	inefficient	ADJ
cblr-1719	480	42	control	control	NOUN
cblr-1719	480	43	-	-	PUNCT
cblr-1719	480	44	enhancing	enhance	VERB
cblr-1719	480	45	mechanism	mechanism	NOUN
cblr-1719	480	46	or	or	CCONJ
cblr-1719	480	47	one	one	NUM
cblr-1719	480	48	that	that	PRON
cblr-1719	480	49	would	would	AUX
cblr-1719	480	50	enhance	enhance	VERB
cblr-1719	480	51	overall	overall	ADJ
cblr-1719	480	52	shareholder	shareholder	NOUN
cblr-1719	480	53	value	value	NOUN
cblr-1719	480	54	.	.	PUNCT
cblr-1719	481	1	2	2	X
cblr-1719	481	2	.	.	X
cblr-1719	481	3	potential	potential	ADJ
cblr-1719	481	4	expropriation	expropriation	NOUN
cblr-1719	481	5	in	in	ADP
cblr-1719	481	6	midstream	midstream	NOUN
cblr-1719	481	7	changes	change	NOUN
cblr-1719	481	8	in	in	ADP
cblr-1719	481	9	a	a	DET
cblr-1719	481	10	leveraged	leveraged	ADJ
cblr-1719	481	11	control	control	NOUN
cblr-1719	481	12	firm	firm	NOUN
cblr-1719	481	13	,	,	PUNCT
cblr-1719	481	14	outside	outside	ADJ
cblr-1719	481	15	shareholders	shareholder	NOUN
cblr-1719	481	16	are	be	AUX
cblr-1719	481	17	exposed	expose	VERB
cblr-1719	481	18	to	to	ADP
cblr-1719	481	19	high	high	ADJ
cblr-1719	481	20	risks	risk	NOUN
cblr-1719	481	21	of	of	ADP
cblr-1719	481	22	expropriation	expropriation	NOUN
cblr-1719	481	23	by	by	ADP
cblr-1719	481	24	controlling	control	VERB
cblr-1719	481	25	-	-	PUNCT
cblr-1719	481	26	minority	minority	NOUN
cblr-1719	481	27	shareholders	shareholder	NOUN
cblr-1719	481	28	.	.	PUNCT
cblr-1719	482	1	google	google	PROPN
cblr-1719	482	2	’s	’s	PART
cblr-1719	482	3	issuance	issuance	NOUN
cblr-1719	482	4	of	of	ADP
cblr-1719	482	5	non	non	ADJ
cblr-1719	482	6	-	-	ADJ
cblr-1719	482	7	voting	voting	ADJ
cblr-1719	482	8	class	class	NOUN
cblr-1719	482	9	c	c	NOUN
cblr-1719	482	10	shares	share	NOUN
cblr-1719	482	11	in	in	ADP
cblr-1719	482	12	2014	2014	NUM
cblr-1719	482	13	is	be	AUX
cblr-1719	482	14	a	a	DET
cblr-1719	482	15	vivid	vivid	ADJ
cblr-1719	482	16	example	example	NOUN
cblr-1719	482	17	.	.	PUNCT
cblr-1719	483	1	as	as	SCONJ
cblr-1719	483	2	mentioned	mention	VERB
cblr-1719	483	3	,	,	PUNCT
cblr-1719	483	4	when	when	SCONJ
cblr-1719	483	5	google	google	PROPN
cblr-1719	483	6	went	go	VERB
cblr-1719	483	7	public	public	ADJ
cblr-1719	483	8	in	in	ADP
cblr-1719	483	9	2004	2004	NUM
cblr-1719	483	10	,	,	PUNCT
cblr-1719	483	11	there	there	PRON
cblr-1719	483	12	were	be	VERB
cblr-1719	483	13	two	two	NUM
cblr-1719	483	14	classes	class	NOUN
cblr-1719	483	15	of	of	ADP
cblr-1719	483	16	shares	share	NOUN
cblr-1719	483	17	,	,	PUNCT
cblr-1719	483	18	class	class	NOUN
cblr-1719	483	19	b	b	PROPN
cblr-1719	483	20	with	with	ADP
cblr-1719	483	21	ten	ten	NUM
cblr-1719	483	22	votes	vote	NOUN
cblr-1719	483	23	per	per	ADP
cblr-1719	483	24	share	share	NOUN
cblr-1719	483	25	and	and	CCONJ
cblr-1719	483	26	class	class	NOUN
cblr-1719	483	27	a	a	PRON
cblr-1719	483	28	with	with	SCONJ
cblr-1719	483	29	one	one	NUM
cblr-1719	483	30	vote	vote	NOUN
cblr-1719	483	31	per	per	ADP
cblr-1719	483	32	share.157	share.157	NOUN
cblr-1719	483	33	class	class	NOUN
cblr-1719	483	34	b	b	PROPN
cblr-1719	483	35	shares	share	NOUN
cblr-1719	483	36	were	be	AUX
cblr-1719	483	37	held	hold	VERB
cblr-1719	483	38	by	by	ADP
cblr-1719	483	39	larry	larry	PROPN
cblr-1719	483	40	page	page	PROPN
cblr-1719	483	41	,	,	PUNCT
cblr-1719	483	42	sergey	sergey	PROPN
cblr-1719	483	43	brin	brin	PROPN
cblr-1719	483	44	,	,	PUNCT
cblr-1719	483	45	and	and	CCONJ
cblr-1719	483	46	other	other	ADJ
cblr-1719	483	47	executives	executive	NOUN
cblr-1719	483	48	.	.	PUNCT
cblr-1719	484	1	over	over	ADP
cblr-1719	484	2	the	the	DET
cblr-1719	484	3	years	year	NOUN
cblr-1719	484	4	,	,	PUNCT
cblr-1719	484	5	google	google	PROPN
cblr-1719	484	6	has	have	AUX
cblr-1719	484	7	issued	issue	VERB
cblr-1719	484	8	class	class	NOUN
cblr-1719	484	9	a	a	DET
cblr-1719	484	10	shares	share	NOUN
cblr-1719	484	11	to	to	PART
cblr-1719	484	12	fund	fund	VERB
cblr-1719	484	13	acquisitions	acquisition	NOUN
cblr-1719	484	14	and	and	CCONJ
cblr-1719	484	15	employee	employee	NOUN
cblr-1719	484	16	compensation	compensation	NOUN
cblr-1719	484	17	.	.	PUNCT
cblr-1719	485	1	as	as	ADP
cblr-1719	485	2	a	a	DET
cblr-1719	485	3	result	result	NOUN
cblr-1719	485	4	,	,	PUNCT
cblr-1719	485	5	the	the	DET
cblr-1719	485	6	control	control	NOUN
cblr-1719	485	7	power	power	NOUN
cblr-1719	485	8	of	of	ADP
cblr-1719	485	9	class	class	NOUN
cblr-1719	485	10	b	b	PROPN
cblr-1719	485	11	shares	share	NOUN
cblr-1719	485	12	was	be	AUX
cblr-1719	485	13	gradually	gradually	ADV
cblr-1719	485	14	diluted	dilute	VERB
cblr-1719	485	15	and	and	CCONJ
cblr-1719	485	16	,	,	PUNCT
cblr-1719	485	17	as	as	SCONJ
cblr-1719	485	18	asserted	assert	VERB
cblr-1719	485	19	by	by	ADP
cblr-1719	485	20	class	class	NOUN
cblr-1719	485	21	a	a	DET
cblr-1719	485	22	shareholders	shareholder	NOUN
cblr-1719	485	23	in	in	ADP
cblr-1719	485	24	a	a	DET
cblr-1719	485	25	lawsuit	lawsuit	NOUN
cblr-1719	485	26	challenging	challenge	VERB
cblr-1719	485	27	the	the	DET
cblr-1719	485	28	issuance	issuance	NOUN
cblr-1719	485	29	of	of	ADP
cblr-1719	485	30	the	the	DET
cblr-1719	485	31	class	class	NOUN
cblr-1719	485	32	c	c	PROPN
cblr-1719	485	33	stock	stock	NOUN
cblr-1719	485	34	,	,	PUNCT
cblr-1719	485	35	the	the	DET
cblr-1719	485	36	founders	founder	NOUN
cblr-1719	485	37	became	become	VERB
cblr-1719	485	38	concerned	concerned	ADJ
cblr-1719	485	39	that	that	SCONJ
cblr-1719	485	40	they	they	PRON
cblr-1719	485	41	would	would	AUX
cblr-1719	485	42	lose	lose	VERB
cblr-1719	485	43	control	control	NOUN
cblr-1719	485	44	in	in	ADP
cblr-1719	485	45	the	the	DET
cblr-1719	485	46	foreseeable	foreseeable	ADJ
cblr-1719	485	47	future	future	NOUN
cblr-1719	485	48	.	.	PUNCT
cblr-1719	486	1	to	to	PART
cblr-1719	486	2	avoid	avoid	VERB
cblr-1719	486	3	that	that	PRON
cblr-1719	486	4	,	,	PUNCT
cblr-1719	486	5	page	page	NOUN
cblr-1719	486	6	and	and	CCONJ
cblr-1719	486	7	brin	brin	PROPN
cblr-1719	486	8	presented	present	VERB
cblr-1719	486	9	a	a	DET
cblr-1719	486	10	proposal	proposal	NOUN
cblr-1719	486	11	to	to	ADP
cblr-1719	486	12	the	the	DET
cblr-1719	486	13	board	board	NOUN
cblr-1719	486	14	to	to	PART
cblr-1719	486	15	create	create	VERB
cblr-1719	486	16	a	a	DET
cblr-1719	486	17	new	new	ADJ
cblr-1719	486	18	,	,	PUNCT
cblr-1719	486	19	non	non	ADJ
cblr-1719	486	20	-	-	ADJ
cblr-1719	486	21	voting	voting	ADJ
cblr-1719	486	22	class	class	NOUN
cblr-1719	486	23	of	of	ADP
cblr-1719	486	24	shares	share	NOUN
cblr-1719	486	25	on	on	ADP
cblr-1719	486	26	january	january	PROPN
cblr-1719	486	27	11	11	NUM
cblr-1719	486	28	,	,	PUNCT
cblr-1719	486	29	2011.158	2011.158	NUM
cblr-1719	486	30	on	on	ADP
cblr-1719	486	31	april	april	PROPN
cblr-1719	486	32	11	11	NUM
cblr-1719	486	33	,	,	PUNCT
cblr-1719	486	34	2012	2012	NUM
cblr-1719	486	35	,	,	PUNCT
cblr-1719	486	36	google	google	PROPN
cblr-1719	486	37	’s	’s	PART
cblr-1719	486	38	special	special	PROPN
cblr-1719	486	39	board	board	PROPN
cblr-1719	486	40	committee	committee	PROPN
cblr-1719	486	41	and	and	CCONJ
cblr-1719	486	42	the	the	DET
cblr-1719	486	43	board	board	NOUN
cblr-1719	486	44	approved	approve	VERB
cblr-1719	486	45	a	a	DET
cblr-1719	486	46	recapitalization	recapitalization	NOUN
cblr-1719	486	47	plan	plan	NOUN
cblr-1719	486	48	to	to	PART
cblr-1719	486	49	create	create	VERB
cblr-1719	486	50	a	a	DET
cblr-1719	486	51	new	new	ADJ
cblr-1719	486	52	class	class	NOUN
cblr-1719	486	53	of	of	ADP
cblr-1719	486	54	shares	share	NOUN
cblr-1719	486	55	,	,	PUNCT
cblr-1719	486	56	class	class	NOUN
cblr-1719	486	57	c	c	NOUN
cblr-1719	486	58	shares	share	NOUN
cblr-1719	486	59	,	,	PUNCT
cblr-1719	486	60	and	and	CCONJ
cblr-1719	486	61	to	to	PART
cblr-1719	486	62	undergo	undergo	VERB
cblr-1719	486	63	a	a	DET
cblr-1719	486	64	stock	stock	NOUN
cblr-1719	486	65	split	split	NOUN
cblr-1719	486	66	where	where	SCONJ
cblr-1719	486	67	each	each	DET
cblr-1719	486	68	class	class	NOUN
cblr-1719	486	69	a	a	PRON
cblr-1719	486	70	or	or	CCONJ
cblr-1719	486	71	class	class	NOUN
cblr-1719	486	72	b	b	PROPN
cblr-1719	486	73	share	share	NOUN
cblr-1719	486	74	would	would	AUX
cblr-1719	486	75	receive	receive	VERB
cblr-1719	486	76	a	a	DET
cblr-1719	486	77	dividend	dividend	NOUN
cblr-1719	486	78	of	of	ADP
cblr-1719	486	79	non	non	ADJ
cblr-1719	486	80	-	-	ADJ
cblr-1719	486	81	voting	voting	ADJ
cblr-1719	486	82	class	class	NOUN
cblr-1719	486	83	c	c	NOUN
cblr-1719	486	84	share	share	NOUN
cblr-1719	486	85	.	.	PUNCT
cblr-1719	487	1	159	159	NUM
cblr-1719	487	2	the	the	DET
cblr-1719	487	3	purpose	purpose	NOUN
cblr-1719	487	4	of	of	ADP
cblr-1719	487	5	recapitalization	recapitalization	NOUN
cblr-1719	487	6	was	be	AUX
cblr-1719	487	7	to	to	PART
cblr-1719	487	8	extend	extend	VERB
cblr-1719	487	9	the	the	DET
cblr-1719	487	10	control	control	NOUN
cblr-1719	487	11	of	of	ADP
cblr-1719	487	12	google	google	PROPN
cblr-1719	487	13	’s	’s	PART
cblr-1719	487	14	founders	founder	NOUN
cblr-1719	487	15	,	,	PUNCT
cblr-1719	487	16	page	page	NOUN
cblr-1719	487	17	and	and	CCONJ
cblr-1719	487	18	brin	brin	NOUN
cblr-1719	487	19	,	,	PUNCT
cblr-1719	487	20	who	who	PRON
cblr-1719	487	21	enjoyed	enjoy	VERB
cblr-1719	487	22	over	over	ADP
cblr-1719	487	23	56.1	56.1	NUM
cblr-1719	487	24	%	%	NOUN
cblr-1719	487	25	of	of	ADP
cblr-1719	487	26	google	google	PROPN
cblr-1719	487	27	’s	’s	PART
cblr-1719	487	28	157	157	NUM
cblr-1719	487	29	see	see	NOUN
cblr-1719	487	30	supra	supra	PROPN
cblr-1719	487	31	note	note	PROPN
cblr-1719	487	32	154	154	NUM
cblr-1719	487	33	and	and	CCONJ
cblr-1719	487	34	accompanying	accompany	VERB
cblr-1719	487	35	text	text	NOUN
cblr-1719	487	36	.	.	PUNCT
cblr-1719	488	1	158	158	NUM
cblr-1719	488	2	plaintiffs	plaintiff	NOUN
cblr-1719	488	3	’	'	PUNCT
cblr-1719	488	4	opening	open	VERB
cblr-1719	488	5	pre	pre	ADJ
cblr-1719	488	6	-	-	ADJ
cblr-1719	488	7	trial	trial	ADJ
cblr-1719	488	8	brief	brief	NOUN
cblr-1719	488	9	at	at	ADP
cblr-1719	488	10	12	12	NUM
cblr-1719	488	11	,	,	PUNCT
cblr-1719	488	12	in	in	ADP
cblr-1719	488	13	re	re	PROPN
cblr-1719	488	14	google	google	PROPN
cblr-1719	488	15	inc	inc	PROPN
cblr-1719	488	16	.	.	PROPN
cblr-1719	488	17	class	class	PROPN
cblr-1719	488	18	c	c	PROPN
cblr-1719	488	19	s’holder	s’holder	PROPN
cblr-1719	488	20	litig	litig	PROPN
cblr-1719	488	21	.	.	PUNCT
cblr-1719	488	22	,	,	PUNCT
cblr-1719	488	23	no	no	INTJ
cblr-1719	488	24	.	.	PUNCT
cblr-1719	489	1	7469	7469	NUM
cblr-1719	489	2	-	-	SYM
cblr-1719	489	3	cs	cs	PROPN
cblr-1719	489	4	(	(	PUNCT
cblr-1719	489	5	del	del	PROPN
cblr-1719	489	6	.	.	PROPN
cblr-1719	489	7	ch	ch	PROPN
cblr-1719	489	8	.	.	PUNCT
cblr-1719	489	9	jun	jun	PROPN
cblr-1719	489	10	.	.	PROPN
cblr-1719	489	11	10	10	NUM
cblr-1719	489	12	,	,	PUNCT
cblr-1719	489	13	2013	2013	NUM
cblr-1719	489	14	)	)	PUNCT
cblr-1719	489	15	,	,	PUNCT
cblr-1719	489	16	2013	2013	NUM
cblr-1719	489	17	wl	wl	NOUN
cblr-1719	489	18	6735045	6735045	NUM
cblr-1719	489	19	.	.	PUNCT
cblr-1719	490	1	159	159	NUM
cblr-1719	490	2	i	i	PRON
cblr-1719	490	3	d.	d.	PROPN
cblr-1719	490	4	at	at	ADP
cblr-1719	490	5	31	31	NUM
cblr-1719	490	6	.	.	PUNCT
cblr-1719	491	1	lin	lin	PROPN
cblr-1719	491	2	–	–	PUNCT
cblr-1719	491	3	final	final	ADJ
cblr-1719	491	4	492	492	NUM
cblr-1719	491	5	columbia	columbia	PROPN
cblr-1719	491	6	business	business	NOUN
cblr-1719	491	7	law	law	PROPN
cblr-1719	491	8	review	review	NOUN
cblr-1719	491	9	[	[	X
cblr-1719	491	10	vol	vol	NOUN
cblr-1719	491	11	.	.	NOUN
cblr-1719	491	12	2017	2017	NUM
cblr-1719	491	13	voting	voting	NOUN
cblr-1719	491	14	power	power	NOUN
cblr-1719	491	15	with	with	ADP
cblr-1719	491	16	only	only	ADV
cblr-1719	491	17	15	15	NUM
cblr-1719	491	18	%	%	NOUN
cblr-1719	491	19	equity	equity	NOUN
cblr-1719	491	20	ownership.160	ownership.160	NOUN
cblr-1719	491	21	the	the	DET
cblr-1719	491	22	recapitalization	recapitalization	NOUN
cblr-1719	491	23	plan	plan	NOUN
cblr-1719	491	24	raised	raise	VERB
cblr-1719	491	25	several	several	ADJ
cblr-1719	491	26	shareholder	shareholder	NOUN
cblr-1719	491	27	protection	protection	NOUN
cblr-1719	491	28	concerns	concern	NOUN
cblr-1719	491	29	.	.	PUNCT
cblr-1719	492	1	two	two	NUM
cblr-1719	492	2	weeks	week	NOUN
cblr-1719	492	3	after	after	ADP
cblr-1719	492	4	the	the	DET
cblr-1719	492	5	board	board	NOUN
cblr-1719	492	6	’s	’s	PART
cblr-1719	492	7	approval	approval	NOUN
cblr-1719	492	8	,	,	PUNCT
cblr-1719	492	9	shareholders	shareholder	NOUN
cblr-1719	492	10	filed	file	VERB
cblr-1719	492	11	class	class	NOUN
cblr-1719	492	12	action	action	NOUN
cblr-1719	492	13	complaints	complaint	NOUN
cblr-1719	492	14	alleging	allege	VERB
cblr-1719	492	15	breach	breach	NOUN
cblr-1719	492	16	of	of	ADP
cblr-1719	492	17	directors	director	NOUN
cblr-1719	492	18	’	'	PUNCT
cblr-1719	492	19	fiduciary	fiduciary	ADJ
cblr-1719	492	20	duties.161	duties.161	VERB
cblr-1719	492	21	when	when	SCONJ
cblr-1719	492	22	the	the	DET
cblr-1719	492	23	recapitalization	recapitalization	NOUN
cblr-1719	492	24	proposal	proposal	NOUN
cblr-1719	492	25	was	be	AUX
cblr-1719	492	26	finally	finally	ADV
cblr-1719	492	27	presented	present	VERB
cblr-1719	492	28	to	to	ADP
cblr-1719	492	29	the	the	DET
cblr-1719	492	30	shareholders	shareholder	NOUN
cblr-1719	492	31	,	,	PUNCT
cblr-1719	492	32	85.3	85.3	NUM
cblr-1719	492	33	%	%	NOUN
cblr-1719	492	34	of	of	ADP
cblr-1719	492	35	class	class	NOUN
cblr-1719	492	36	a	a	DET
cblr-1719	492	37	shareholders	shareholder	NOUN
cblr-1719	492	38	voted	vote	VERB
cblr-1719	492	39	against	against	ADP
cblr-1719	492	40	the	the	DET
cblr-1719	492	41	recapitalization	recapitalization	NOUN
cblr-1719	492	42	proposal	proposal	NOUN
cblr-1719	492	43	at	at	ADP
cblr-1719	492	44	the	the	DET
cblr-1719	492	45	shareholders	shareholder	NOUN
cblr-1719	492	46	’	’	PART
cblr-1719	492	47	meeting	meeting	NOUN
cblr-1719	492	48	.	.	PUNCT
cblr-1719	493	1	nevertheless	nevertheless	ADV
cblr-1719	493	2	,	,	PUNCT
cblr-1719	493	3	the	the	DET
cblr-1719	493	4	proposal	proposal	NOUN
cblr-1719	493	5	still	still	ADV
cblr-1719	493	6	passed	pass	VERB
cblr-1719	493	7	with	with	ADP
cblr-1719	493	8	the	the	DET
cblr-1719	493	9	support	support	NOUN
cblr-1719	493	10	of	of	ADP
cblr-1719	493	11	the	the	DET
cblr-1719	493	12	founders	founder	NOUN
cblr-1719	493	13	’	'	PUNCT
cblr-1719	493	14	super	super	ADJ
cblr-1719	493	15	-	-	ADJ
cblr-1719	493	16	voting	voting	ADJ
cblr-1719	493	17	class	class	NOUN
cblr-1719	493	18	b	b	PROPN
cblr-1719	493	19	shares.162	shares.162	NOUN
cblr-1719	493	20	this	this	PRON
cblr-1719	493	21	was	be	AUX
cblr-1719	493	22	clearly	clearly	ADV
cblr-1719	493	23	a	a	DET
cblr-1719	493	24	pro	pro	ADJ
cblr-1719	493	25	-	-	ADJ
cblr-1719	493	26	insider	insider	ADJ
cblr-1719	493	27	distorted	distort	VERB
cblr-1719	493	28	midstream	midstream	NOUN
cblr-1719	493	29	amendment	amendment	NOUN
cblr-1719	493	30	by	by	ADP
cblr-1719	493	31	controlling	control	VERB
cblr-1719	493	32	-	-	PUNCT
cblr-1719	493	33	minority	minority	NOUN
cblr-1719	493	34	shareholders	shareholder	NOUN
cblr-1719	493	35	.	.	PUNCT
cblr-1719	494	1	the	the	DET
cblr-1719	494	2	case	case	NOUN
cblr-1719	494	3	finally	finally	ADV
cblr-1719	494	4	settled	settle	VERB
cblr-1719	494	5	on	on	ADP
cblr-1719	494	6	the	the	DET
cblr-1719	494	7	eve	eve	NOUN
cblr-1719	494	8	of	of	ADP
cblr-1719	494	9	the	the	DET
cblr-1719	494	10	delaware	delaware	PROPN
cblr-1719	494	11	chancery	chancery	PROPN
cblr-1719	494	12	court	court	PROPN
cblr-1719	494	13	trial	trial	NOUN
cblr-1719	494	14	proceedings.163	proceedings.163	VERB
cblr-1719	494	15	similarly	similarly	ADV
cblr-1719	494	16	,	,	PUNCT
cblr-1719	494	17	facebook	facebook	PROPN
cblr-1719	494	18	,	,	PUNCT
cblr-1719	494	19	which	which	PRON
cblr-1719	494	20	also	also	ADV
cblr-1719	494	21	has	have	VERB
cblr-1719	494	22	a	a	DET
cblr-1719	494	23	dual	dual	ADJ
cblr-1719	494	24	-	-	PUNCT
cblr-1719	494	25	class	class	NOUN
cblr-1719	494	26	share	share	NOUN
cblr-1719	494	27	structure	structure	NOUN
cblr-1719	494	28	,	,	PUNCT
cblr-1719	494	29	announced	announce	VERB
cblr-1719	494	30	a	a	DET
cblr-1719	494	31	three	three	NUM
cblr-1719	494	32	-	-	PUNCT
cblr-1719	494	33	for	for	ADP
cblr-1719	494	34	-	-	PUNCT
cblr-1719	494	35	one	one	NUM
cblr-1719	494	36	stock	stock	NOUN
cblr-1719	494	37	split	split	NOUN
cblr-1719	494	38	in	in	ADP
cblr-1719	494	39	april	april	PROPN
cblr-1719	494	40	2016	2016	NUM
cblr-1719	494	41	whereby	whereby	SCONJ
cblr-1719	494	42	facebook	facebook	PROPN
cblr-1719	494	43	will	will	AUX
cblr-1719	494	44	issue	issue	VERB
cblr-1719	494	45	two	two	NUM
cblr-1719	494	46	non	non	ADJ
cblr-1719	494	47	-	-	ADJ
cblr-1719	494	48	voting	voting	ADJ
cblr-1719	494	49	class	class	NOUN
cblr-1719	494	50	c	c	NOUN
cblr-1719	494	51	shares	share	NOUN
cblr-1719	494	52	for	for	ADP
cblr-1719	494	53	each	each	DET
cblr-1719	494	54	outstanding	outstanding	ADJ
cblr-1719	494	55	class	class	NOUN
cblr-1719	494	56	a	a	DET
cblr-1719	494	57	and	and	CCONJ
cblr-1719	494	58	class	class	NOUN
cblr-1719	494	59	b	b	PROPN
cblr-1719	494	60	share	share	NOUN
cblr-1719	494	61	held	hold	VERB
cblr-1719	494	62	by	by	ADP
cblr-1719	494	63	shareholders.164	shareholders.164	NOUN
cblr-1719	494	64	the	the	DET
cblr-1719	494	65	main	main	ADJ
cblr-1719	494	66	purpose	purpose	NOUN
cblr-1719	494	67	for	for	ADP
cblr-1719	494	68	the	the	DET
cblr-1719	494	69	recapitalization	recapitalization	NOUN
cblr-1719	494	70	is	be	AUX
cblr-1719	494	71	to	to	PART
cblr-1719	494	72	enable	enable	VERB
cblr-1719	494	73	facebook	facebook	PROPN
cblr-1719	494	74	’s	’s	PART
cblr-1719	494	75	founder	founder	NOUN
cblr-1719	494	76	mark	mark	PROPN
cblr-1719	494	77	zuckerberg	zuckerberg	PROPN
cblr-1719	494	78	to	to	PART
cblr-1719	494	79	sell	sell	VERB
cblr-1719	494	80	99	99	NUM
cblr-1719	494	81	%	%	NOUN
cblr-1719	494	82	of	of	ADP
cblr-1719	494	83	his	his	PRON
cblr-1719	494	84	shares	share	NOUN
cblr-1719	494	85	for	for	ADP
cblr-1719	494	86	philanthropy	philanthropy	ADJ
cblr-1719	494	87	purposes	purpose	NOUN
cblr-1719	494	88	yet	yet	ADV
cblr-1719	494	89	still	still	ADV
cblr-1719	494	90	maintain	maintain	VERB
cblr-1719	494	91	control.165	control.165	PROPN
cblr-1719	494	92	with	with	ADP
cblr-1719	494	93	mr	mr	PROPN
cblr-1719	494	94	.	.	PROPN
cblr-1719	494	95	zuckerberg	zuckerberg	PROPN
cblr-1719	494	96	holding	hold	VERB
cblr-1719	494	97	60	60	NUM
cblr-1719	494	98	%	%	NOUN
cblr-1719	494	99	of	of	ADP
cblr-1719	494	100	the	the	DET
cblr-1719	494	101	voting	voting	NOUN
cblr-1719	494	102	power	power	NOUN
cblr-1719	494	103	,	,	PUNCT
cblr-1719	494	104	recapitalization	recapitalization	NOUN
cblr-1719	494	105	plan	plan	NOUN
cblr-1719	494	106	to	to	PART
cblr-1719	494	107	issue	issue	VERB
cblr-1719	494	108	class	class	NOUN
cblr-1719	494	109	c	c	NOUN
cblr-1719	494	110	shares	share	NOUN
cblr-1719	494	111	passed	pass	VERB
cblr-1719	494	112	160	160	NUM
cblr-1719	494	113	settlement	settlement	NOUN
cblr-1719	494	114	hearing	hearing	NOUN
cblr-1719	494	115	and	and	CCONJ
cblr-1719	494	116	rulings	ruling	NOUN
cblr-1719	494	117	of	of	ADP
cblr-1719	494	118	the	the	DET
cblr-1719	494	119	court	court	NOUN
cblr-1719	494	120	,	,	PUNCT
cblr-1719	494	121	in	in	ADP
cblr-1719	494	122	re	re	PROPN
cblr-1719	494	123	google	google	PROPN
cblr-1719	494	124	inc	inc	PROPN
cblr-1719	494	125	.	.	PROPN
cblr-1719	494	126	class	class	PROPN
cblr-1719	494	127	c	c	PROPN
cblr-1719	494	128	s’holder	s’holder	PROPN
cblr-1719	494	129	litig	litig	PROPN
cblr-1719	494	130	.	.	PUNCT
cblr-1719	495	1	,	,	PUNCT
cblr-1719	495	2	no	no	INTJ
cblr-1719	495	3	.	.	PUNCT
cblr-1719	496	1	7469	7469	NUM
cblr-1719	496	2	-	-	SYM
cblr-1719	496	3	cs	cs	PROPN
cblr-1719	496	4	(	(	PUNCT
cblr-1719	496	5	del	del	PROPN
cblr-1719	496	6	.	.	PROPN
cblr-1719	496	7	ch	ch	PROPN
cblr-1719	496	8	.	.	PUNCT
cblr-1719	496	9	oct	oct	PROPN
cblr-1719	496	10	.	.	PROPN
cblr-1719	496	11	28	28	NUM
cblr-1719	496	12	,	,	PUNCT
cblr-1719	496	13	2013	2013	NUM
cblr-1719	496	14	)	)	PUNCT
cblr-1719	496	15	,	,	PUNCT
cblr-1719	496	16	2013	2013	NUM
cblr-1719	496	17	wl	wl	NOUN
cblr-1719	496	18	6735045	6735045	NUM
cblr-1719	496	19	.	.	PUNCT
cblr-1719	497	1	161	161	NUM
cblr-1719	497	2	plaintiffs	plaintiff	NOUN
cblr-1719	497	3	’	'	PUNCT
cblr-1719	497	4	opening	open	VERB
cblr-1719	497	5	pre	pre	ADJ
cblr-1719	497	6	-	-	ADJ
cblr-1719	497	7	trial	trial	ADJ
cblr-1719	497	8	brief	brief	NOUN
cblr-1719	497	9	at	at	ADP
cblr-1719	497	10	32–37	32–37	NUM
cblr-1719	497	11	,	,	PUNCT
cblr-1719	497	12	in	in	ADP
cblr-1719	497	13	re	re	PROPN
cblr-1719	497	14	google	google	PROPN
cblr-1719	497	15	inc	inc	PROPN
cblr-1719	497	16	.	.	PROPN
cblr-1719	497	17	class	class	PROPN
cblr-1719	497	18	c	c	PROPN
cblr-1719	497	19	s’holder	s’holder	PROPN
cblr-1719	497	20	litig	litig	PROPN
cblr-1719	497	21	.	.	PUNCT
cblr-1719	497	22	,	,	PUNCT
cblr-1719	497	23	no	no	INTJ
cblr-1719	497	24	.	.	PUNCT
cblr-1719	498	1	7469	7469	NUM
cblr-1719	498	2	-	-	SYM
cblr-1719	498	3	cs	cs	PROPN
cblr-1719	498	4	(	(	PUNCT
cblr-1719	498	5	del	del	PROPN
cblr-1719	498	6	.	.	PROPN
cblr-1719	498	7	ch	ch	PROPN
cblr-1719	498	8	.	.	PROPN
cblr-1719	499	1	june	june	PROPN
cblr-1719	499	2	10	10	NUM
cblr-1719	499	3	,	,	PUNCT
cblr-1719	499	4	2013	2013	NUM
cblr-1719	499	5	)	)	PUNCT
cblr-1719	499	6	,	,	PUNCT
cblr-1719	499	7	2013	2013	NUM
cblr-1719	499	8	wl	wl	NOUN
cblr-1719	499	9	6735045	6735045	NUM
cblr-1719	499	10	.	.	PUNCT
cblr-1719	500	1	162	162	NUM
cblr-1719	500	2	see	see	VERB
cblr-1719	500	3	google	google	PROPN
cblr-1719	500	4	inc	inc	PROPN
cblr-1719	500	5	.	.	PROPN
cblr-1719	500	6	,	,	PUNCT
cblr-1719	500	7	current	current	ADJ
cblr-1719	500	8	report	report	NOUN
cblr-1719	500	9	(	(	PUNCT
cblr-1719	500	10	form	form	NOUN
cblr-1719	500	11	8	8	NUM
cblr-1719	500	12	-	-	PUNCT
cblr-1719	500	13	k	k	NOUN
cblr-1719	500	14	)	)	PUNCT
cblr-1719	500	15	,	,	PUNCT
cblr-1719	500	16	at	at	ADP
cblr-1719	500	17	3–4	3–4	NUM
cblr-1719	500	18	(	(	PUNCT
cblr-1719	500	19	june	june	PROPN
cblr-1719	500	20	21	21	NUM
cblr-1719	500	21	,	,	PUNCT
cblr-1719	500	22	2012	2012	NUM
cblr-1719	500	23	)	)	PUNCT
cblr-1719	500	24	.	.	PUNCT
cblr-1719	501	1	163	163	NUM
cblr-1719	501	2	jamie	jamie	PROPN
cblr-1719	501	3	santo	santo	PROPN
cblr-1719	501	4	,	,	PUNCT
cblr-1719	501	5	google	google	PROPN
cblr-1719	501	6	settles	settle	VERB
cblr-1719	501	7	stock	stock	NOUN
cblr-1719	501	8	-	-	PUNCT
cblr-1719	501	9	split	split	NOUN
cblr-1719	501	10	suit	suit	NOUN
cblr-1719	501	11	on	on	ADP
cblr-1719	501	12	eve	eve	NOUN
cblr-1719	501	13	of	of	ADP
cblr-1719	501	14	trial	trial	NOUN
cblr-1719	501	15	,	,	PUNCT
cblr-1719	501	16	law360	law360	PROPN
cblr-1719	501	17	(	(	PUNCT
cblr-1719	501	18	june	june	PROPN
cblr-1719	501	19	17	17	NUM
cblr-1719	501	20	,	,	PUNCT
cblr-1719	501	21	2013	2013	NUM
cblr-1719	501	22	)	)	PUNCT
cblr-1719	501	23	,	,	PUNCT
cblr-1719	501	24	https://www.law360.com/articles/450580/googlesettles-stock-split-suit-on-eve-of-trial	https://www.law360.com/articles/450580/googlesettles-stock-split-suit-on-eve-of-trial	PROPN
cblr-1719	501	25	[	[	X
cblr-1719	501	26	https://perma.cc/l2h9-aycj	https://perma.cc/l2h9-aycj	NOUN
cblr-1719	501	27	]	]	PUNCT
cblr-1719	501	28	.	.	PROPN
cblr-1719	501	29	164	164	NUM
cblr-1719	501	30	dan	dan	PROPN
cblr-1719	501	31	levine	levine	PROPN
cblr-1719	501	32	,	,	PUNCT
cblr-1719	501	33	facebook	facebook	PROPN
cblr-1719	501	34	hit	hit	VERB
cblr-1719	501	35	with	with	ADP
cblr-1719	501	36	lawsuit	lawsuit	NOUN
cblr-1719	501	37	over	over	ADP
cblr-1719	501	38	plan	plan	NOUN
cblr-1719	501	39	to	to	PART
cblr-1719	501	40	issue	issue	VERB
cblr-1719	501	41	new	new	ADJ
cblr-1719	501	42	stock	stock	NOUN
cblr-1719	501	43	,	,	PUNCT
cblr-1719	501	44	reuters	reuters	PROPN
cblr-1719	501	45	(	(	PUNCT
cblr-1719	501	46	apr	apr	PROPN
cblr-1719	501	47	.	.	PROPN
cblr-1719	501	48	29	29	NUM
cblr-1719	501	49	,	,	PUNCT
cblr-1719	501	50	2016	2016	NUM
cblr-1719	501	51	)	)	PUNCT
cblr-1719	501	52	,	,	PUNCT
cblr-1719	501	53	http://www.reuters.com/article/usfacebook-stocks-lawsuit-iduskcn0xq2lm	http://www.reuters.com/article/usfacebook-stocks-lawsuit-iduskcn0xq2lm	ADJ
cblr-1719	501	54	[	[	X
cblr-1719	501	55	https://perma.cc/a8e3-99kx	https://perma.cc/a8e3-99kx	X
cblr-1719	501	56	]	]	X
cblr-1719	501	57	.	.	PUNCT
cblr-1719	502	1	165	165	NUM
cblr-1719	502	2	zacks	zacks	PROPN
cblr-1719	502	3	equity	equity	NOUN
cblr-1719	502	4	research	research	NOUN
cblr-1719	502	5	,	,	PUNCT
cblr-1719	502	6	facebook	facebook	PROPN
cblr-1719	502	7	shareholders	shareholder	NOUN
cblr-1719	502	8	approve	approve	VERB
cblr-1719	502	9	creation	creation	NOUN
cblr-1719	502	10	of	of	ADP
cblr-1719	502	11	class	class	NOUN
cblr-1719	502	12	c	c	NOUN
cblr-1719	502	13	shares	share	NOUN
cblr-1719	502	14	,	,	PUNCT
cblr-1719	502	15	nasdaq	nasdaq	PROPN
cblr-1719	502	16	(	(	PUNCT
cblr-1719	502	17	june	june	PROPN
cblr-1719	502	18	21	21	NUM
cblr-1719	502	19	,	,	PUNCT
cblr-1719	502	20	2016	2016	NUM
cblr-1719	502	21	)	)	PUNCT
cblr-1719	502	22	,	,	PUNCT
cblr-1719	502	23	http://www.nasdaq.com/article/facebook-shareholders-approve-creation-ofclass-c-shares-cm638528	http://www.nasdaq.com/article/facebook-shareholders-approve-creation-ofclass-c-shares-cm638528	X
cblr-1719	503	1	[	[	X
cblr-1719	503	2	https://perma.cc/vv2u-kyae	https://perma.cc/vv2u-kyae	PROPN
cblr-1719	503	3	]	]	PUNCT
cblr-1719	503	4	.	.	PUNCT
cblr-1719	504	1	lin	lin	PROPN
cblr-1719	504	2	–	–	PUNCT
cblr-1719	504	3	final	final	ADJ
cblr-1719	504	4	no	no	NOUN
cblr-1719	504	5	.	.	PUNCT
cblr-1719	505	1	2:453	2:453	NUM
cblr-1719	505	2	]	]	X
cblr-1719	505	3	controlling	control	VERB
cblr-1719	505	4	-	-	PUNCT
cblr-1719	505	5	minority	minority	NOUN
cblr-1719	505	6	shareholders	shareholder	NOUN
cblr-1719	505	7	493	493	NUM
cblr-1719	505	8	at	at	ADP
cblr-1719	505	9	the	the	DET
cblr-1719	505	10	shareholders	shareholder	NOUN
cblr-1719	505	11	’	'	PUNCT
cblr-1719	505	12	meeting	meeting	NOUN
cblr-1719	505	13	on	on	ADP
cblr-1719	505	14	june	june	PROPN
cblr-1719	505	15	20	20	NUM
cblr-1719	505	16	,	,	PUNCT
cblr-1719	505	17	2016.166	2016.166	NUM
cblr-1719	505	18	shareholders	shareholder	NOUN
cblr-1719	505	19	filed	file	VERB
cblr-1719	505	20	class	class	NOUN
cblr-1719	505	21	action	action	NOUN
cblr-1719	505	22	lawsuits	lawsuit	NOUN
cblr-1719	505	23	shortly	shortly	ADV
cblr-1719	505	24	after	after	SCONJ
cblr-1719	505	25	the	the	DET
cblr-1719	505	26	board	board	NOUN
cblr-1719	505	27	announced	announce	VERB
cblr-1719	505	28	the	the	DET
cblr-1719	505	29	recapitalization	recapitalization	NOUN
cblr-1719	505	30	plan	plan	NOUN
cblr-1719	505	31	,	,	PUNCT
cblr-1719	505	32	alleging	allege	VERB
cblr-1719	505	33	that	that	SCONJ
cblr-1719	505	34	directors	director	NOUN
cblr-1719	505	35	breached	breach	VERB
cblr-1719	505	36	their	their	PRON
cblr-1719	505	37	fiduciary	fiduciary	ADJ
cblr-1719	505	38	duties	duty	NOUN
cblr-1719	505	39	by	by	ADP
cblr-1719	505	40	diluting	dilute	VERB
cblr-1719	505	41	voting	voting	NOUN
cblr-1719	505	42	rights	right	NOUN
cblr-1719	505	43	and	and	CCONJ
cblr-1719	505	44	entrenching	entrench	VERB
cblr-1719	505	45	control	control	NOUN
cblr-1719	505	46	by	by	ADP
cblr-1719	505	47	existing	exist	VERB
cblr-1719	505	48	controllers.167	controllers.167	ADP
cblr-1719	505	49	the	the	DET
cblr-1719	505	50	recapitalization	recapitalization	NOUN
cblr-1719	505	51	plan	plan	NOUN
cblr-1719	505	52	is	be	AUX
cblr-1719	505	53	a	a	DET
cblr-1719	505	54	pro	pro	ADJ
cblr-1719	505	55	-	-	ADJ
cblr-1719	505	56	insider	insider	ADJ
cblr-1719	505	57	charter	charter	NOUN
cblr-1719	505	58	amendment	amendment	NOUN
cblr-1719	505	59	that	that	PRON
cblr-1719	505	60	will	will	AUX
cblr-1719	505	61	allow	allow	VERB
cblr-1719	505	62	controlling	control	VERB
cblr-1719	505	63	-	-	PUNCT
cblr-1719	505	64	minority	minority	NOUN
cblr-1719	505	65	shareholders	shareholder	NOUN
cblr-1719	505	66	to	to	PART
cblr-1719	505	67	sell	sell	VERB
cblr-1719	505	68	billions	billion	NOUN
cblr-1719	505	69	of	of	ADP
cblr-1719	505	70	dollars	dollar	NOUN
cblr-1719	505	71	of	of	ADP
cblr-1719	505	72	shares	share	NOUN
cblr-1719	505	73	without	without	ADP
cblr-1719	505	74	relinquishing	relinquish	VERB
cblr-1719	505	75	corporate	corporate	ADJ
cblr-1719	505	76	control	control	NOUN
cblr-1719	505	77	.	.	PUNCT
cblr-1719	506	1	both	both	DET
cblr-1719	506	2	google	google	PROPN
cblr-1719	506	3	’s	’s	PART
cblr-1719	506	4	and	and	CCONJ
cblr-1719	506	5	facebook	facebook	PROPN
cblr-1719	506	6	’s	’s	PART
cblr-1719	506	7	recent	recent	ADJ
cblr-1719	506	8	recapitalization	recapitalization	NOUN
cblr-1719	506	9	plans	plan	NOUN
cblr-1719	506	10	vividly	vividly	ADV
cblr-1719	506	11	illustrate	illustrate	VERB
cblr-1719	506	12	the	the	DET
cblr-1719	506	13	expropriation	expropriation	NOUN
cblr-1719	506	14	risks	risk	NOUN
cblr-1719	506	15	faced	face	VERB
cblr-1719	506	16	by	by	ADP
cblr-1719	506	17	minority	minority	NOUN
cblr-1719	506	18	shareholders	shareholder	NOUN
cblr-1719	506	19	of	of	ADP
cblr-1719	506	20	pro	pro	ADJ
cblr-1719	506	21	-	-	ADJ
cblr-1719	506	22	insider	insider	ADJ
cblr-1719	506	23	midstream	midstream	NOUN
cblr-1719	506	24	charter	charter	NOUN
cblr-1719	506	25	amendments	amendment	NOUN
cblr-1719	506	26	.	.	PUNCT
cblr-1719	507	1	another	another	DET
cblr-1719	507	2	example	example	NOUN
cblr-1719	507	3	of	of	ADP
cblr-1719	507	4	pro	pro	ADJ
cblr-1719	507	5	-	-	ADJ
cblr-1719	507	6	insider	insider	ADJ
cblr-1719	507	7	midstream	midstream	NOUN
cblr-1719	507	8	change	change	NOUN
cblr-1719	507	9	is	be	AUX
cblr-1719	507	10	the	the	DET
cblr-1719	507	11	recent	recent	ADJ
cblr-1719	507	12	privatization	privatization	NOUN
cblr-1719	507	13	of	of	ADP
cblr-1719	507	14	many	many	ADJ
cblr-1719	507	15	u.s.-listed	u.s.-listed	ADJ
cblr-1719	507	16	chinese	chinese	ADJ
cblr-1719	507	17	firms	firm	NOUN
cblr-1719	507	18	.	.	PUNCT
cblr-1719	508	1	an	an	DET
cblr-1719	508	2	entrenched	entrenched	ADJ
cblr-1719	508	3	controlling	control	VERB
cblr-1719	508	4	shareholder	shareholder	NOUN
cblr-1719	508	5	normally	normally	ADV
cblr-1719	508	6	extracts	extract	VERB
cblr-1719	508	7	private	private	ADJ
cblr-1719	508	8	benefits	benefit	NOUN
cblr-1719	508	9	of	of	ADP
cblr-1719	508	10	control	control	NOUN
cblr-1719	508	11	through	through	ADP
cblr-1719	508	12	three	three	NUM
cblr-1719	508	13	major	major	ADJ
cblr-1719	508	14	channels	channel	NOUN
cblr-1719	508	15	:	:	PUNCT
cblr-1719	508	16	related	related	ADJ
cblr-1719	508	17	party	party	NOUN
cblr-1719	508	18	transactions	transaction	NOUN
cblr-1719	508	19	,	,	PUNCT
cblr-1719	508	20	change	change	NOUN
cblr-1719	508	21	-	-	PUNCT
cblr-1719	508	22	of	of	ADP
cblr-1719	508	23	-	-	PUNCT
cblr-1719	508	24	control	control	NOUN
cblr-1719	508	25	transactions	transaction	NOUN
cblr-1719	508	26	,	,	PUNCT
cblr-1719	508	27	and	and	CCONJ
cblr-1719	508	28	the	the	DET
cblr-1719	508	29	freeze	freeze	NOUN
cblr-1719	508	30	-	-	PUNCT
cblr-1719	508	31	out	out	NOUN
cblr-1719	508	32	of	of	ADP
cblr-1719	508	33	minority	minority	NOUN
cblr-1719	508	34	shareholders.168	shareholders.168	NOUN
cblr-1719	508	35	in	in	ADP
cblr-1719	508	36	a	a	DET
cblr-1719	508	37	public	public	ADJ
cblr-1719	508	38	corporation	corporation	NOUN
cblr-1719	508	39	with	with	ADP
cblr-1719	508	40	a	a	DET
cblr-1719	508	41	controlling	control	VERB
cblr-1719	508	42	shareholder	shareholder	NOUN
cblr-1719	508	43	,	,	PUNCT
cblr-1719	508	44	the	the	DET
cblr-1719	508	45	market	market	NOUN
cblr-1719	508	46	price	price	NOUN
cblr-1719	508	47	of	of	ADP
cblr-1719	508	48	a	a	DET
cblr-1719	508	49	share	share	NOUN
cblr-1719	508	50	reflects	reflect	VERB
cblr-1719	508	51	the	the	DET
cblr-1719	508	52	value	value	NOUN
cblr-1719	508	53	of	of	ADP
cblr-1719	508	54	a	a	DET
cblr-1719	508	55	non	non	ADJ
cblr-1719	508	56	-	-	ADJ
cblr-1719	508	57	controlling	control	VERB
cblr-1719	508	58	share.169	share.169	NUM
cblr-1719	508	59	the	the	DET
cblr-1719	508	60	price	price	NOUN
cblr-1719	508	61	of	of	ADP
cblr-1719	508	62	a	a	DET
cblr-1719	508	63	non	non	ADJ
cblr-1719	508	64	-	-	ADJ
cblr-1719	508	65	controlling	controlling	ADJ
cblr-1719	508	66	share	share	NOUN
cblr-1719	508	67	is	be	AUX
cblr-1719	508	68	usually	usually	ADV
cblr-1719	508	69	discounted	discount	VERB
cblr-1719	508	70	by	by	ADP
cblr-1719	508	71	the	the	DET
cblr-1719	508	72	capitalized	capitalize	VERB
cblr-1719	508	73	value	value	NOUN
cblr-1719	508	74	of	of	ADP
cblr-1719	508	75	the	the	DET
cblr-1719	508	76	expected	expect	VERB
cblr-1719	508	77	private	private	ADJ
cblr-1719	508	78	benefits	benefit	NOUN
cblr-1719	508	79	.	.	PUNCT
cblr-1719	509	1	170	170	NUM
cblr-1719	509	2	in	in	ADP
cblr-1719	509	3	a	a	DET
cblr-1719	509	4	freeze	freeze	VERB
cblr-1719	509	5	-	-	PUNCT
cblr-1719	509	6	out	out	ADP
cblr-1719	509	7	transaction	transaction	NOUN
cblr-1719	509	8	,	,	PUNCT
cblr-1719	509	9	controlling	control	VERB
cblr-1719	509	10	shareholders	shareholder	NOUN
cblr-1719	509	11	will	will	AUX
cblr-1719	509	12	be	be	AUX
cblr-1719	509	13	able	able	ADJ
cblr-1719	509	14	to	to	PART
cblr-1719	509	15	capture	capture	VERB
cblr-1719	509	16	the	the	DET
cblr-1719	509	17	value	value	NOUN
cblr-1719	509	18	of	of	ADP
cblr-1719	509	19	future	future	ADJ
cblr-1719	509	20	private	private	ADJ
cblr-1719	509	21	benefits	benefit	NOUN
cblr-1719	509	22	by	by	ADP
cblr-1719	509	23	buying	buy	VERB
cblr-1719	509	24	out	out	ADP
cblr-1719	509	25	noncontrolling	noncontrolling	NOUN
cblr-1719	509	26	shares	share	NOUN
cblr-1719	509	27	at	at	ADP
cblr-1719	509	28	the	the	DET
cblr-1719	509	29	then	then	ADV
cblr-1719	509	30	market	market	NOUN
cblr-1719	509	31	price.171	price.171	INTJ
cblr-1719	509	32	this	this	DET
cblr-1719	509	33	article	article	NOUN
cblr-1719	509	34	uses	use	VERB
cblr-1719	509	35	the	the	DET
cblr-1719	509	36	recent	recent	ADJ
cblr-1719	509	37	privatization	privatization	NOUN
cblr-1719	509	38	of	of	ADP
cblr-1719	509	39	u.s.-listed	u.s.-listed	ADJ
cblr-1719	509	40	chinese	chinese	ADJ
cblr-1719	509	41	firms	firm	NOUN
cblr-1719	509	42	as	as	ADP
cblr-1719	509	43	an	an	DET
cblr-1719	509	44	example	example	NOUN
cblr-1719	509	45	to	to	PART
cblr-1719	509	46	illustrate	illustrate	VERB
cblr-1719	509	47	how	how	SCONJ
cblr-1719	509	48	controlling	control	VERB
cblr-1719	509	49	-	-	PUNCT
cblr-1719	509	50	minority	minority	NOUN
cblr-1719	509	51	shareholders	shareholder	NOUN
cblr-1719	509	52	can	can	AUX
cblr-1719	509	53	easily	easily	ADV
cblr-1719	509	54	extract	extract	VERB
cblr-1719	509	55	private	private	ADJ
cblr-1719	509	56	benefits	benefit	NOUN
cblr-1719	509	57	by	by	ADP
cblr-1719	509	58	freezing	freeze	VERB
cblr-1719	509	59	out	out	ADP
cblr-1719	509	60	minority	minority	NOUN
cblr-1719	509	61	shareholders	shareholder	NOUN
cblr-1719	509	62	in	in	ADP
cblr-1719	509	63	a	a	DET
cblr-1719	509	64	leveraged	leveraged	ADJ
cblr-1719	509	65	control	control	NOUN
cblr-1719	509	66	firm	firm	NOUN
cblr-1719	509	67	.	.	PUNCT
cblr-1719	510	1	166	166	NUM
cblr-1719	510	2	see	see	VERB
cblr-1719	510	3	facebook	facebook	PROPN
cblr-1719	510	4	inc	inc	PROPN
cblr-1719	510	5	.	.	PROPN
cblr-1719	510	6	,	,	PUNCT
cblr-1719	510	7	current	current	ADJ
cblr-1719	510	8	report	report	NOUN
cblr-1719	510	9	(	(	PUNCT
cblr-1719	510	10	form	form	NOUN
cblr-1719	510	11	8	8	NUM
cblr-1719	510	12	-	-	PUNCT
cblr-1719	510	13	k	k	NOUN
cblr-1719	510	14	)	)	PUNCT
cblr-1719	510	15	(	(	PUNCT
cblr-1719	510	16	june	june	PROPN
cblr-1719	510	17	20	20	NUM
cblr-1719	510	18	,	,	PUNCT
cblr-1719	510	19	2016	2016	NUM
cblr-1719	510	20	)	)	PUNCT
cblr-1719	510	21	,	,	PUNCT
cblr-1719	510	22	https://www.sec.gov/archives/edgar/data/1326801/000132680116000077/for	https://www.sec.gov/archives/edgar/data/1326801/000132680116000077/for	ADP
cblr-1719	511	1	m8-k2016annualmeeting.htm	m8-k2016annualmeeting.htm	PROPN
cblr-1719	511	2	[	[	X
cblr-1719	511	3	https://perma.cc/9d87-kwgz	https://perma.cc/9d87-kwgz	PROPN
cblr-1719	511	4	]	]	PUNCT
cblr-1719	511	5	.	.	PUNCT
cblr-1719	512	1	167	167	NUM
cblr-1719	512	2	tom	tom	PROPN
cblr-1719	512	3	zanki	zanki	PROPN
cblr-1719	512	4	,	,	PUNCT
cblr-1719	512	5	facebook	facebook	PROPN
cblr-1719	512	6	class	class	PROPN
cblr-1719	512	7	c	c	PROPN
cblr-1719	512	8	share	share	NOUN
cblr-1719	512	9	plan	plan	NOUN
cblr-1719	512	10	could	could	AUX
cblr-1719	512	11	spur	spur	VERB
cblr-1719	512	12	followers	follower	NOUN
cblr-1719	512	13	,	,	PUNCT
cblr-1719	512	14	law360	law360	PROPN
cblr-1719	512	15	(	(	PUNCT
cblr-1719	512	16	may	may	PROPN
cblr-1719	512	17	19	19	NUM
cblr-1719	512	18	,	,	PUNCT
cblr-1719	512	19	2016	2016	NUM
cblr-1719	512	20	)	)	PUNCT
cblr-1719	512	21	,	,	PUNCT
cblr-1719	512	22	https://www.law360.com/articles/798263/facebookclass-c-share-plan-could-spur-followers	https://www.law360.com/articles/798263/facebookclass-c-share-plan-could-spur-followers	PROPN
cblr-1719	512	23	[	[	X
cblr-1719	512	24	https://perma.cc/2mf8-93ps	https://perma.cc/2mf8-93ps	NOUN
cblr-1719	512	25	]	]	X
cblr-1719	512	26	.	.	PUNCT
cblr-1719	513	1	168	168	NUM
cblr-1719	513	2	gilson	gilson	PROPN
cblr-1719	513	3	&	&	CCONJ
cblr-1719	513	4	gordon	gordon	PROPN
cblr-1719	513	5	,	,	PUNCT
cblr-1719	513	6	supra	supra	PROPN
cblr-1719	513	7	note	note	PROPN
cblr-1719	513	8	72	72	NUM
cblr-1719	513	9	,	,	PUNCT
cblr-1719	513	10	at	at	ADP
cblr-1719	513	11	786	786	NUM
cblr-1719	513	12	.	.	NOUN
cblr-1719	513	13	169	169	NUM
cblr-1719	514	1	i	i	PRON
cblr-1719	514	2	d.	d.	NOUN
cblr-1719	514	3	at	at	ADP
cblr-1719	514	4	787	787	NUM
cblr-1719	514	5	.	.	NUM
cblr-1719	515	1	170	170	NUM
cblr-1719	516	1	i	i	PRON
cblr-1719	516	2	d.	d.	PROPN
cblr-1719	516	3	171	171	NUM
cblr-1719	517	1	i	i	PROPN
cblr-1719	517	2	d.	d.	PROPN
cblr-1719	517	3	lin	lin	PROPN
cblr-1719	517	4	–	–	PUNCT
cblr-1719	517	5	final	final	ADJ
cblr-1719	517	6	494	494	NUM
cblr-1719	517	7	columbia	columbia	PROPN
cblr-1719	517	8	business	business	NOUN
cblr-1719	517	9	law	law	PROPN
cblr-1719	517	10	review	review	NOUN
cblr-1719	518	1	[	[	X
cblr-1719	518	2	vol	vol	NOUN
cblr-1719	518	3	.	.	NOUN
cblr-1719	518	4	2017	2017	NUM
cblr-1719	518	5	in	in	ADP
cblr-1719	518	6	light	light	NOUN
cblr-1719	518	7	of	of	ADP
cblr-1719	518	8	the	the	DET
cblr-1719	518	9	higher	high	ADJ
cblr-1719	518	10	valuation	valuation	NOUN
cblr-1719	518	11	of	of	ADP
cblr-1719	518	12	tech	tech	NOUN
cblr-1719	518	13	stocks	stock	NOUN
cblr-1719	518	14	in	in	ADP
cblr-1719	518	15	the	the	DET
cblr-1719	518	16	chinese	chinese	ADJ
cblr-1719	518	17	stock	stock	NOUN
cblr-1719	518	18	market	market	NOUN
cblr-1719	518	19	,	,	PUNCT
cblr-1719	518	20	many	many	ADJ
cblr-1719	518	21	u.s.-listed	u.s.-listed	ADJ
cblr-1719	518	22	chinese	chinese	ADJ
cblr-1719	518	23	firms	firm	NOUN
cblr-1719	518	24	plan	plan	VERB
cblr-1719	518	25	to	to	AUX
cblr-1719	518	26	de	de	NOUN
cblr-1719	518	27	-	-	NOUN
cblr-1719	518	28	list	list	NOUN
cblr-1719	518	29	in	in	ADP
cblr-1719	518	30	the	the	DET
cblr-1719	518	31	united	united	PROPN
cblr-1719	518	32	states	states	PROPN
cblr-1719	518	33	and	and	CCONJ
cblr-1719	518	34	re	re	NOUN
cblr-1719	518	35	-	-	NOUN
cblr-1719	518	36	list	list	NOUN
cblr-1719	518	37	in	in	ADP
cblr-1719	518	38	china	china	PROPN
cblr-1719	518	39	.	.	PUNCT
cblr-1719	519	1	privatization	privatization	NOUN
cblr-1719	519	2	of	of	ADP
cblr-1719	519	3	these	these	DET
cblr-1719	519	4	firms	firm	NOUN
cblr-1719	519	5	typically	typically	ADV
cblr-1719	519	6	involves	involve	VERB
cblr-1719	519	7	buyout	buyout	NOUN
cblr-1719	519	8	offers	offer	NOUN
cblr-1719	519	9	from	from	ADP
cblr-1719	519	10	founders	founder	NOUN
cblr-1719	519	11	,	,	PUNCT
cblr-1719	519	12	controlling	control	VERB
cblr-1719	519	13	shareholders	shareholder	NOUN
cblr-1719	519	14	,	,	PUNCT
cblr-1719	519	15	or	or	CCONJ
cblr-1719	519	16	private	private	ADJ
cblr-1719	519	17	equity	equity	NOUN
cblr-1719	519	18	investors	investor	NOUN
cblr-1719	519	19	.	.	PUNCT
cblr-1719	520	1	since	since	SCONJ
cblr-1719	520	2	2015	2015	NUM
cblr-1719	520	3	,	,	PUNCT
cblr-1719	520	4	37	37	NUM
cblr-1719	520	5	u.s.-listed	u.s.-listed	ADJ
cblr-1719	520	6	chinese	chinese	ADJ
cblr-1719	520	7	firms	firm	NOUN
cblr-1719	520	8	have	have	AUX
cblr-1719	520	9	received	receive	VERB
cblr-1719	520	10	buyout	buyout	NOUN
cblr-1719	520	11	offers	offer	NOUN
cblr-1719	520	12	totaling	total	VERB
cblr-1719	520	13	$	$	SYM
cblr-1719	520	14	38.9	38.9	NUM
cblr-1719	520	15	billion	billion	NUM
cblr-1719	520	16	,	,	PUNCT
cblr-1719	520	17	which	which	PRON
cblr-1719	520	18	is	be	AUX
cblr-1719	520	19	larger	large	ADJ
cblr-1719	520	20	than	than	ADP
cblr-1719	520	21	the	the	DET
cblr-1719	520	22	total	total	ADJ
cblr-1719	520	23	u.s	u.s	PROPN
cblr-1719	520	24	.	.	PROPN
cblr-1719	520	25	ipo	ipo	PROPN
cblr-1719	520	26	proceeds	proceed	NOUN
cblr-1719	520	27	of	of	ADP
cblr-1719	520	28	$	$	SYM
cblr-1719	520	29	30.3	30.3	NUM
cblr-1719	520	30	billion	billion	NUM
cblr-1719	520	31	in	in	ADP
cblr-1719	520	32	2015.172	2015.172	NUM
cblr-1719	520	33	the	the	DET
cblr-1719	520	34	scale	scale	NOUN
cblr-1719	520	35	is	be	AUX
cblr-1719	520	36	widespread	widespread	ADJ
cblr-1719	520	37	and	and	CCONJ
cblr-1719	520	38	has	have	VERB
cblr-1719	520	39	a	a	DET
cblr-1719	520	40	substantial	substantial	ADJ
cblr-1719	520	41	impact	impact	NOUN
cblr-1719	520	42	on	on	ADP
cblr-1719	520	43	u.s	u.s	PROPN
cblr-1719	520	44	.	.	PROPN
cblr-1719	520	45	capital	capital	NOUN
cblr-1719	520	46	markets	market	NOUN
cblr-1719	520	47	.	.	PUNCT
cblr-1719	521	1	in	in	ADP
cblr-1719	521	2	a	a	DET
cblr-1719	521	3	management	management	NOUN
cblr-1719	521	4	buyout	buyout	NOUN
cblr-1719	521	5	,	,	PUNCT
cblr-1719	521	6	manager	manager	NOUN
cblr-1719	521	7	controllers	controller	NOUN
cblr-1719	521	8	usually	usually	ADV
cblr-1719	521	9	have	have	VERB
cblr-1719	521	10	substantial	substantial	ADJ
cblr-1719	521	11	control	control	NOUN
cblr-1719	521	12	over	over	ADP
cblr-1719	521	13	the	the	DET
cblr-1719	521	14	privatization	privatization	NOUN
cblr-1719	521	15	process	process	NOUN
cblr-1719	521	16	,	,	PUNCT
cblr-1719	521	17	from	from	ADP
cblr-1719	521	18	offer	offer	NOUN
cblr-1719	521	19	timing	timing	NOUN
cblr-1719	521	20	and	and	CCONJ
cblr-1719	521	21	offer	offer	VERB
cblr-1719	521	22	price	price	NOUN
cblr-1719	521	23	to	to	ADP
cblr-1719	521	24	funding	funding	NOUN
cblr-1719	521	25	sources	source	NOUN
cblr-1719	521	26	.	.	PUNCT
cblr-1719	522	1	in	in	ADP
cblr-1719	522	2	a	a	DET
cblr-1719	522	3	firm	firm	NOUN
cblr-1719	522	4	that	that	PRON
cblr-1719	522	5	adopts	adopt	VERB
cblr-1719	522	6	a	a	DET
cblr-1719	522	7	dual	dual	ADJ
cblr-1719	522	8	-	-	PUNCT
cblr-1719	522	9	class	class	NOUN
cblr-1719	522	10	share	share	NOUN
cblr-1719	522	11	structure	structure	NOUN
cblr-1719	522	12	,	,	PUNCT
cblr-1719	522	13	controlling	control	VERB
cblr-1719	522	14	shareholders	shareholder	NOUN
cblr-1719	522	15	typically	typically	ADV
cblr-1719	522	16	retain	retain	VERB
cblr-1719	522	17	more	more	ADJ
cblr-1719	522	18	than	than	ADP
cblr-1719	522	19	half	half	NOUN
cblr-1719	522	20	of	of	ADP
cblr-1719	522	21	the	the	DET
cblr-1719	522	22	voting	voting	NOUN
cblr-1719	522	23	power	power	NOUN
cblr-1719	522	24	through	through	ADP
cblr-1719	522	25	multiple	multiple	ADJ
cblr-1719	522	26	voting	voting	NOUN
cblr-1719	522	27	shares	share	NOUN
cblr-1719	522	28	,	,	PUNCT
cblr-1719	522	29	which	which	PRON
cblr-1719	522	30	means	mean	VERB
cblr-1719	522	31	they	they	PRON
cblr-1719	522	32	are	be	AUX
cblr-1719	522	33	able	able	ADJ
cblr-1719	522	34	to	to	PART
cblr-1719	522	35	dominate	dominate	VERB
cblr-1719	522	36	the	the	DET
cblr-1719	522	37	resolutions	resolution	NOUN
cblr-1719	522	38	of	of	ADP
cblr-1719	522	39	a	a	DET
cblr-1719	522	40	shareholders	shareholder	NOUN
cblr-1719	522	41	’	'	PUNCT
cblr-1719	522	42	meeting.173	meeting.173	PROPN
cblr-1719	522	43	outside	outside	ADJ
cblr-1719	522	44	investors	investor	NOUN
cblr-1719	522	45	are	be	AUX
cblr-1719	522	46	consequently	consequently	ADV
cblr-1719	522	47	exposed	expose	VERB
cblr-1719	522	48	to	to	ADP
cblr-1719	522	49	high	high	ADJ
cblr-1719	522	50	expropriation	expropriation	NOUN
cblr-1719	522	51	risks	risk	NOUN
cblr-1719	522	52	because	because	SCONJ
cblr-1719	522	53	controlling	control	VERB
cblr-1719	522	54	shareholders	shareholder	NOUN
cblr-1719	522	55	can	can	AUX
cblr-1719	522	56	engineer	engineer	VERB
cblr-1719	522	57	the	the	DET
cblr-1719	522	58	whole	whole	ADJ
cblr-1719	522	59	process	process	NOUN
cblr-1719	522	60	,	,	PUNCT
cblr-1719	522	61	such	such	ADJ
cblr-1719	522	62	as	as	ADP
cblr-1719	522	63	choosing	choose	VERB
cblr-1719	522	64	a	a	DET
cblr-1719	522	65	time	time	NOUN
cblr-1719	522	66	when	when	SCONJ
cblr-1719	522	67	the	the	DET
cblr-1719	522	68	share	share	NOUN
cblr-1719	522	69	price	price	NOUN
cblr-1719	522	70	is	be	AUX
cblr-1719	522	71	low	low	ADJ
cblr-1719	522	72	to	to	PART
cblr-1719	522	73	minimize	minimize	VERB
cblr-1719	522	74	the	the	DET
cblr-1719	522	75	privatization	privatization	NOUN
cblr-1719	522	76	costs.174	costs.174	INTJ
cblr-1719	522	77	here	here	ADV
cblr-1719	522	78	,	,	PUNCT
cblr-1719	522	79	we	we	PRON
cblr-1719	522	80	take	take	AUX
cblr-1719	522	81	qihoo	qihoo	NOUN
cblr-1719	522	82	360	360	NUM
cblr-1719	522	83	technology	technology	PROPN
cblr-1719	522	84	co.	co.	PROPN
cblr-1719	522	85	(	(	PUNCT
cblr-1719	522	86	“	"	PUNCT
cblr-1719	522	87	qihoo	qihoo	PROPN
cblr-1719	522	88	”	"	PUNCT
cblr-1719	522	89	)	)	PUNCT
cblr-1719	522	90	,	,	PUNCT
cblr-1719	522	91	which	which	PRON
cblr-1719	522	92	underwent	undergo	VERB
cblr-1719	522	93	the	the	DET
cblr-1719	522	94	largest	large	ADJ
cblr-1719	522	95	privatization	privatization	NOUN
cblr-1719	522	96	among	among	ADP
cblr-1719	522	97	u.s.-listed	u.s.-listed	ADJ
cblr-1719	522	98	chinese	chinese	ADJ
cblr-1719	522	99	firms	firm	NOUN
cblr-1719	522	100	,	,	PUNCT
cblr-1719	522	101	as	as	ADP
cblr-1719	522	102	an	an	DET
cblr-1719	522	103	example	example	NOUN
cblr-1719	522	104	.	.	PUNCT
cblr-1719	523	1	qihoo	qihoo	PROPN
cblr-1719	523	2	announced	announce	VERB
cblr-1719	523	3	receipt	receipt	NOUN
cblr-1719	523	4	of	of	ADP
cblr-1719	523	5	a	a	DET
cblr-1719	523	6	172	172	NUM
cblr-1719	523	7	wei	wei	PROPN
cblr-1719	523	8	gu	gu	PROPN
cblr-1719	523	9	,	,	PUNCT
cblr-1719	523	10	scrutiny	scrutiny	NOUN
cblr-1719	523	11	greets	greet	VERB
cblr-1719	523	12	overseas	overseas	ADV
cblr-1719	523	13	-	-	PUNCT
cblr-1719	523	14	listed	list	VERB
cblr-1719	523	15	chinese	chinese	ADJ
cblr-1719	523	16	companies	company	NOUN
cblr-1719	523	17	returning	return	VERB
cblr-1719	523	18	home	home	ADV
cblr-1719	523	19	to	to	PART
cblr-1719	523	20	relist	relist	VERB
cblr-1719	523	21	,	,	PUNCT
cblr-1719	524	1	wall	wall	PROPN
cblr-1719	524	2	st	st	PROPN
cblr-1719	524	3	.	.	PROPN
cblr-1719	524	4	j.	j.	PROPN
cblr-1719	524	5	(	(	PUNCT
cblr-1719	524	6	may	may	PROPN
cblr-1719	524	7	6	6	NUM
cblr-1719	524	8	,	,	PUNCT
cblr-1719	524	9	2016	2016	NUM
cblr-1719	524	10	)	)	PUNCT
cblr-1719	524	11	,	,	PUNCT
cblr-1719	524	12	http://www.wsj.com/articles/china-scrutinizes-deals-for-foreign-listedcompanies-to-relist-at-home-1462537821	http://www.wsj.com/articles/china-scrutinizes-deals-for-foreign-listedcompanies-to-relist-at-home-1462537821	NOUN
cblr-1719	524	13	;	;	PUNCT
cblr-1719	524	14	ipo	ipo	NOUN
cblr-1719	524	15	proceeds	proceed	NOUN
cblr-1719	524	16	raised	raise	VERB
cblr-1719	524	17	,	,	PUNCT
cblr-1719	524	18	renaissance	renaissance	NOUN
cblr-1719	524	19	capital	capital	NOUN
cblr-1719	524	20	,	,	PUNCT
cblr-1719	524	21	http://www.renaissancecapital.com/ipocenter/stats/proceeds	http://www.renaissancecapital.com/ipocenter/stats/proceed	VERB
cblr-1719	525	1	[	[	X
cblr-1719	525	2	https://perma.cc/j5wr-5shh	https://perma.cc/j5wr-5shh	X
cblr-1719	525	3	]	]	X
cblr-1719	525	4	(	(	PUNCT
cblr-1719	525	5	last	last	ADJ
cblr-1719	525	6	visited	visit	VERB
cblr-1719	525	7	feb	feb	PROPN
cblr-1719	525	8	.	.	PROPN
cblr-1719	525	9	14	14	NUM
cblr-1719	525	10	,	,	PUNCT
cblr-1719	525	11	2017	2017	NUM
cblr-1719	525	12	)	)	PUNCT
cblr-1719	525	13	.	.	PUNCT
cblr-1719	526	1	173	173	NUM
cblr-1719	527	1	the	the	DET
cblr-1719	527	2	founders	founder	NOUN
cblr-1719	527	3	generally	generally	ADV
cblr-1719	527	4	have	have	VERB
cblr-1719	527	5	control	control	NOUN
cblr-1719	527	6	over	over	ADP
cblr-1719	527	7	the	the	DET
cblr-1719	527	8	resolutions	resolution	NOUN
cblr-1719	527	9	of	of	ADP
cblr-1719	527	10	shareholders	shareholder	NOUN
cblr-1719	527	11	’	'	PUNCT
cblr-1719	527	12	meetings	meeting	NOUN
cblr-1719	527	13	unless	unless	SCONJ
cblr-1719	527	14	the	the	DET
cblr-1719	527	15	law	law	NOUN
cblr-1719	527	16	or	or	CCONJ
cblr-1719	527	17	the	the	DET
cblr-1719	527	18	corporate	corporate	ADJ
cblr-1719	527	19	charter	charter	NOUN
cblr-1719	527	20	requires	require	VERB
cblr-1719	527	21	majority	majority	NOUN
cblr-1719	527	22	of	of	ADP
cblr-1719	527	23	the	the	DET
cblr-1719	527	24	disinterested	disinterested	ADJ
cblr-1719	527	25	shareholders	shareholder	NOUN
cblr-1719	527	26	’	'	PUNCT
cblr-1719	527	27	approval	approval	NOUN
cblr-1719	527	28	.	.	PUNCT
cblr-1719	528	1	174	174	NUM
cblr-1719	528	2	controllers	controller	NOUN
cblr-1719	528	3	,	,	PUNCT
cblr-1719	528	4	who	who	PRON
cblr-1719	528	5	decide	decide	VERB
cblr-1719	528	6	on	on	ADP
cblr-1719	528	7	whether	whether	SCONJ
cblr-1719	528	8	and	and	CCONJ
cblr-1719	528	9	when	when	SCONJ
cblr-1719	528	10	to	to	PART
cblr-1719	528	11	effect	effect	VERB
cblr-1719	528	12	a	a	DET
cblr-1719	528	13	freeze	freeze	NOUN
cblr-1719	528	14	-out	-out	NUM
cblr-1719	528	15	,	,	PUNCT
cblr-1719	528	16	are	be	AUX
cblr-1719	528	17	likely	likely	ADJ
cblr-1719	528	18	to	to	PART
cblr-1719	528	19	have	have	VERB
cblr-1719	528	20	private	private	ADJ
cblr-1719	528	21	information	information	NOUN
cblr-1719	528	22	on	on	ADP
cblr-1719	528	23	the	the	DET
cblr-1719	528	24	true	true	ADJ
cblr-1719	528	25	value	value	NOUN
cblr-1719	528	26	of	of	ADP
cblr-1719	528	27	the	the	DET
cblr-1719	528	28	firm	firm	NOUN
cblr-1719	528	29	.	.	PUNCT
cblr-1719	529	1	therefore	therefore	ADV
cblr-1719	529	2	,	,	PUNCT
cblr-1719	529	3	the	the	DET
cblr-1719	529	4	pre	pre	ADJ
cblr-1719	529	5	-	-	ADJ
cblr-1719	529	6	freezeout	freezeout	ADJ
cblr-1719	529	7	market	market	NOUN
cblr-1719	529	8	price	price	NOUN
cblr-1719	529	9	is	be	AUX
cblr-1719	529	10	likely	likely	ADJ
cblr-1719	529	11	to	to	PART
cblr-1719	529	12	underestimate	underestimate	VERB
cblr-1719	529	13	a	a	DET
cblr-1719	529	14	firm	firm	NOUN
cblr-1719	529	15	’s	’s	PART
cblr-1719	529	16	true	true	ADJ
cblr-1719	529	17	value	value	NOUN
cblr-1719	529	18	.	.	PUNCT
cblr-1719	530	1	see	see	VERB
cblr-1719	530	2	lucian	lucian	PROPN
cblr-1719	530	3	arye	arye	PROPN
cblr-1719	530	4	bebchuk	bebchuk	PROPN
cblr-1719	530	5	&	&	CCONJ
cblr-1719	530	6	marcel	marcel	PROPN
cblr-1719	530	7	kahan	kahan	PROPN
cblr-1719	530	8	,	,	PUNCT
cblr-1719	530	9	adverse	adverse	ADJ
cblr-1719	530	10	selection	selection	NOUN
cblr-1719	530	11	and	and	CCONJ
cblr-1719	530	12	gains	gain	NOUN
cblr-1719	530	13	to	to	ADP
cblr-1719	530	14	controllers	controller	NOUN
cblr-1719	530	15	in	in	ADP
cblr-1719	530	16	corporate	corporate	ADJ
cblr-1719	530	17	freezeouts	freezeout	NOUN
cblr-1719	530	18	,	,	PUNCT
cblr-1719	530	19	in	in	ADP
cblr-1719	530	20	concentrated	concentrated	ADJ
cblr-1719	530	21	corporate	corporate	ADJ
cblr-1719	530	22	ownership	ownership	NOUN
cblr-1719	530	23	247	247	NUM
cblr-1719	530	24	,	,	PUNCT
cblr-1719	530	25	249	249	NUM
cblr-1719	530	26	(	(	PUNCT
cblr-1719	530	27	randall	randall	PROPN
cblr-1719	530	28	k.	k.	PROPN
cblr-1719	530	29	morck	morck	PROPN
cblr-1719	530	30	ed	ed	PROPN
cblr-1719	530	31	.	.	PROPN
cblr-1719	530	32	,	,	PUNCT
cblr-1719	530	33	2000	2000	NUM
cblr-1719	530	34	)	)	PUNCT
cblr-1719	530	35	.	.	PUNCT
cblr-1719	531	1	lin	lin	PROPN
cblr-1719	531	2	–	–	PUNCT
cblr-1719	531	3	final	final	ADJ
cblr-1719	531	4	no	no	NOUN
cblr-1719	531	5	.	.	PUNCT
cblr-1719	532	1	2:453	2:453	NUM
cblr-1719	532	2	]	]	X
cblr-1719	532	3	controlling	control	VERB
cblr-1719	532	4	-	-	PUNCT
cblr-1719	532	5	minority	minority	NOUN
cblr-1719	532	6	shareholders	shareholder	NOUN
cblr-1719	532	7	495	495	NUM
cblr-1719	532	8	buyout	buyout	NOUN
cblr-1719	532	9	offer	offer	NOUN
cblr-1719	532	10	from	from	ADP
cblr-1719	532	11	its	its	PRON
cblr-1719	532	12	founders	founder	NOUN
cblr-1719	532	13	and	and	CCONJ
cblr-1719	532	14	other	other	ADJ
cblr-1719	532	15	private	private	ADJ
cblr-1719	532	16	investors	investor	NOUN
cblr-1719	532	17	on	on	ADP
cblr-1719	532	18	june	june	PROPN
cblr-1719	532	19	17	17	NUM
cblr-1719	532	20	,	,	PUNCT
cblr-1719	532	21	2015.175	2015.175	PROPN
cblr-1719	532	22	the	the	DET
cblr-1719	532	23	offer	offer	NOUN
cblr-1719	532	24	price	price	NOUN
cblr-1719	532	25	was	be	AUX
cblr-1719	532	26	$	$	SYM
cblr-1719	532	27	77	77	NUM
cblr-1719	532	28	per	per	ADP
cblr-1719	532	29	american	american	ADJ
cblr-1719	532	30	depositary	depositary	ADJ
cblr-1719	532	31	share	share	NOUN
cblr-1719	532	32	,	,	PUNCT
cblr-1719	532	33	representing	represent	VERB
cblr-1719	532	34	a	a	DET
cblr-1719	532	35	16.6	16.6	NUM
cblr-1719	532	36	%	%	NOUN
cblr-1719	532	37	premium	premium	NOUN
cblr-1719	532	38	on	on	ADP
cblr-1719	532	39	the	the	DET
cblr-1719	532	40	market	market	NOUN
cblr-1719	532	41	price	price	NOUN
cblr-1719	532	42	when	when	SCONJ
cblr-1719	532	43	the	the	DET
cblr-1719	532	44	offer	offer	NOUN
cblr-1719	532	45	was	be	AUX
cblr-1719	532	46	made	make	VERB
cblr-1719	532	47	.	.	PUNCT
cblr-1719	533	1	the	the	DET
cblr-1719	533	2	total	total	ADJ
cblr-1719	533	3	buyout	buyout	NOUN
cblr-1719	533	4	offer	offer	NOUN
cblr-1719	533	5	was	be	AUX
cblr-1719	533	6	$	$	SYM
cblr-1719	533	7	9.3	9.3	NUM
cblr-1719	533	8	billion.176	billion.176	NOUN
cblr-1719	533	9	on	on	ADP
cblr-1719	533	10	december	december	PROPN
cblr-1719	533	11	18	18	NUM
cblr-1719	533	12	,	,	PUNCT
cblr-1719	533	13	2015	2015	NUM
cblr-1719	533	14	,	,	PUNCT
cblr-1719	533	15	the	the	DET
cblr-1719	533	16	board	board	NOUN
cblr-1719	533	17	,	,	PUNCT
cblr-1719	533	18	acting	act	VERB
cblr-1719	533	19	upon	upon	SCONJ
cblr-1719	533	20	the	the	DET
cblr-1719	533	21	recommendation	recommendation	NOUN
cblr-1719	533	22	of	of	ADP
cblr-1719	533	23	an	an	DET
cblr-1719	533	24	independent	independent	ADJ
cblr-1719	533	25	special	special	ADJ
cblr-1719	533	26	committee	committee	NOUN
cblr-1719	533	27	,	,	PUNCT
cblr-1719	533	28	approved	approve	VERB
cblr-1719	533	29	the	the	DET
cblr-1719	533	30	proposed	propose	VERB
cblr-1719	533	31	merger	merger	NOUN
cblr-1719	533	32	and	and	CCONJ
cblr-1719	533	33	recommended	recommend	VERB
cblr-1719	533	34	that	that	SCONJ
cblr-1719	533	35	shareholders	shareholder	NOUN
cblr-1719	533	36	vote	vote	NOUN
cblr-1719	533	37	in	in	ADP
cblr-1719	533	38	favor	favor	NOUN
cblr-1719	533	39	of	of	ADP
cblr-1719	533	40	the	the	DET
cblr-1719	533	41	merger	merger	NOUN
cblr-1719	533	42	plan	plan	NOUN
cblr-1719	533	43	.	.	PUNCT
cblr-1719	534	1	qihoo	qihoo	PROPN
cblr-1719	534	2	adopted	adopt	VERB
cblr-1719	534	3	a	a	DET
cblr-1719	534	4	dual	dual	ADJ
cblr-1719	534	5	-	-	PUNCT
cblr-1719	534	6	class	class	NOUN
cblr-1719	534	7	share	share	NOUN
cblr-1719	534	8	structure	structure	NOUN
cblr-1719	534	9	where	where	SCONJ
cblr-1719	534	10	its	its	PRON
cblr-1719	534	11	founders	founder	NOUN
cblr-1719	534	12	held	hold	VERB
cblr-1719	534	13	multiple	multiple	ADJ
cblr-1719	534	14	voting	voting	NOUN
cblr-1719	534	15	rights	right	NOUN
cblr-1719	534	16	shares	share	NOUN
cblr-1719	534	17	with	with	ADP
cblr-1719	534	18	five	five	NUM
cblr-1719	534	19	votes	vote	NOUN
cblr-1719	534	20	per	per	ADP
cblr-1719	534	21	share	share	NOUN
cblr-1719	534	22	and	and	CCONJ
cblr-1719	534	23	controlled	control	VERB
cblr-1719	534	24	more	more	ADJ
cblr-1719	534	25	than	than	ADP
cblr-1719	534	26	61	61	NUM
cblr-1719	534	27	%	%	NOUN
cblr-1719	534	28	of	of	ADP
cblr-1719	534	29	the	the	DET
cblr-1719	534	30	voting	vote	VERB
cblr-1719	534	31	power.177	power.177	NOUN
cblr-1719	534	32	to	to	PART
cblr-1719	534	33	complete	complete	VERB
cblr-1719	534	34	the	the	DET
cblr-1719	534	35	statutory	statutory	ADJ
cblr-1719	534	36	merger	merger	NOUN
cblr-1719	534	37	,	,	PUNCT
cblr-1719	534	38	approval	approval	NOUN
cblr-1719	534	39	by	by	ADP
cblr-1719	534	40	an	an	DET
cblr-1719	534	41	affirmative	affirmative	ADJ
cblr-1719	534	42	vote	vote	NOUN
cblr-1719	534	43	of	of	ADP
cblr-1719	534	44	the	the	DET
cblr-1719	534	45	shareholders	shareholder	NOUN
cblr-1719	534	46	,	,	PUNCT
cblr-1719	534	47	representing	represent	VERB
cblr-1719	534	48	at	at	ADV
cblr-1719	534	49	least	least	ADV
cblr-1719	534	50	two	two	NUM
cblr-1719	534	51	-	-	PUNCT
cblr-1719	534	52	thirds	third	NOUN
cblr-1719	534	53	of	of	ADP
cblr-1719	534	54	the	the	DET
cblr-1719	534	55	voting	voting	NOUN
cblr-1719	534	56	power	power	NOUN
cblr-1719	534	57	of	of	ADP
cblr-1719	534	58	the	the	DET
cblr-1719	534	59	shares	share	NOUN
cblr-1719	534	60	present	present	ADJ
cblr-1719	534	61	and	and	CCONJ
cblr-1719	534	62	voting	voting	NOUN
cblr-1719	534	63	,	,	PUNCT
cblr-1719	534	64	was	be	AUX
cblr-1719	534	65	required	require	VERB
cblr-1719	534	66	by	by	ADP
cblr-1719	534	67	the	the	DET
cblr-1719	534	68	companies	company	NOUN
cblr-1719	534	69	law	law	NOUN
cblr-1719	534	70	of	of	ADP
cblr-1719	534	71	the	the	DET
cblr-1719	534	72	cayman	cayman	NOUN
cblr-1719	534	73	islands.178	islands.178	ADJ
cblr-1719	534	74	with	with	ADP
cblr-1719	534	75	61	61	NUM
cblr-1719	534	76	%	%	NOUN
cblr-1719	534	77	of	of	ADP
cblr-1719	534	78	votes	vote	NOUN
cblr-1719	534	79	at	at	ADP
cblr-1719	534	80	hand,179	hand,179	PROPN
cblr-1719	534	81	the	the	DET
cblr-1719	534	82	founders	founder	NOUN
cblr-1719	534	83	easily	easily	ADV
cblr-1719	534	84	passed	pass	VERB
cblr-1719	534	85	the	the	DET
cblr-1719	534	86	resolution	resolution	NOUN
cblr-1719	534	87	at	at	ADP
cblr-1719	534	88	a	a	DET
cblr-1719	534	89	shareholders	shareholder	NOUN
cblr-1719	534	90	’	'	PUNCT
cblr-1719	534	91	meeting	meeting	NOUN
cblr-1719	534	92	,	,	PUNCT
cblr-1719	534	93	with	with	ADP
cblr-1719	534	94	69.3	69.3	NUM
cblr-1719	534	95	%	%	NOUN
cblr-1719	534	96	of	of	ADP
cblr-1719	534	97	votes	vote	NOUN
cblr-1719	534	98	presenting	present	VERB
cblr-1719	534	99	and	and	CCONJ
cblr-1719	534	100	99.8	99.8	NUM
cblr-1719	534	101	%	%	NOUN
cblr-1719	534	102	of	of	ADP
cblr-1719	534	103	presenting	present	VERB
cblr-1719	534	104	shares	share	NOUN
cblr-1719	534	105	approving	approve	VERB
cblr-1719	534	106	the	the	DET
cblr-1719	534	107	merger.180	merger.180	NOUN
cblr-1719	534	108	there	there	PRON
cblr-1719	534	109	are	be	VERB
cblr-1719	534	110	several	several	ADJ
cblr-1719	534	111	reasons	reason	NOUN
cblr-1719	534	112	to	to	PART
cblr-1719	534	113	be	be	AUX
cblr-1719	534	114	concerned	concern	VERB
cblr-1719	534	115	about	about	ADP
cblr-1719	534	116	expropriation	expropriation	NOUN
cblr-1719	534	117	from	from	ADP
cblr-1719	534	118	qihoo	qihoo	PROPN
cblr-1719	534	119	’s	’s	PART
cblr-1719	534	120	going	go	VERB
cblr-1719	534	121	-	-	PUNCT
cblr-1719	534	122	private	private	ADJ
cblr-1719	534	123	transaction	transaction	NOUN
cblr-1719	534	124	.	.	PUNCT
cblr-1719	535	1	first	first	ADV
cblr-1719	535	2	,	,	PUNCT
cblr-1719	535	3	the	the	DET
cblr-1719	535	4	buyout	buyout	NOUN
cblr-1719	535	5	offer	offer	NOUN
cblr-1719	535	6	was	be	AUX
cblr-1719	535	7	made	make	VERB
cblr-1719	535	8	at	at	ADP
cblr-1719	535	9	a	a	DET
cblr-1719	535	10	time	time	NOUN
cblr-1719	535	11	when	when	SCONJ
cblr-1719	535	12	the	the	DET
cblr-1719	535	13	market	market	NOUN
cblr-1719	535	14	price	price	NOUN
cblr-1719	535	15	175	175	NUM
cblr-1719	535	16	carlos	carlos	PROPN
cblr-1719	535	17	tejada	tejada	PROPN
cblr-1719	535	18	,	,	PUNCT
cblr-1719	535	19	qihoo	qihoo	PROPN
cblr-1719	535	20	gets	get	VERB
cblr-1719	535	21	$	$	SYM
cblr-1719	535	22	9	9	NUM
cblr-1719	535	23	billion	billion	NUM
cblr-1719	535	24	buyout	buyout	NOUN
cblr-1719	535	25	offer	offer	NOUN
cblr-1719	535	26	from	from	ADP
cblr-1719	535	27	ceo	ceo	PROPN
cblr-1719	535	28	,	,	PUNCT
cblr-1719	535	29	wall	wall	PROPN
cblr-1719	535	30	st	st	PROPN
cblr-1719	535	31	.	.	PROPN
cblr-1719	535	32	j.	j.	PROPN
cblr-1719	535	33	(	(	PUNCT
cblr-1719	535	34	june	june	PROPN
cblr-1719	535	35	17	17	NUM
cblr-1719	535	36	,	,	PUNCT
cblr-1719	535	37	2015	2015	NUM
cblr-1719	535	38	)	)	PUNCT
cblr-1719	536	1	https://www.wsj.com/articles/qihoo-receivesbuyout-offer-from-ceo-1434542416	https://www.wsj.com/articles/qihoo-receivesbuyout-offer-from-ceo-1434542416	NOUN
cblr-1719	536	2	.	.	NOUN
cblr-1719	536	3	176	176	NUM
cblr-1719	536	4	bonnie	bonnie	PROPN
cblr-1719	536	5	cao	cao	PROPN
cblr-1719	536	6	&	&	CCONJ
cblr-1719	536	7	jonathan	jonathan	PROPN
cblr-1719	536	8	browning	browning	PROPN
cblr-1719	536	9	,	,	PUNCT
cblr-1719	536	10	qihoo	qihoo	VERB
cblr-1719	536	11	’s	’s	PART
cblr-1719	536	12	$	$	SYM
cblr-1719	536	13	9.3	9.3	NUM
cblr-1719	536	14	billion	billion	NUM
cblr-1719	536	15	privatization	privatization	NOUN
cblr-1719	536	16	rekindles	rekindle	VERB
cblr-1719	536	17	china	china	PROPN
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cblr-1719	536	20	,	,	PUNCT
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cblr-1719	536	22	(	(	PUNCT
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cblr-1719	536	24	.	.	PROPN
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cblr-1719	539	4	.	.	PUNCT
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cblr-1719	539	6	companies	company	NOUN
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cblr-1719	539	13	)	)	PUNCT
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cblr-1719	539	17	.	.	PUNCT
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cblr-1719	539	19	.	.	PUNCT
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cblr-1719	540	2	press	press	NOUN
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cblr-1719	540	4	,	,	PUNCT
cblr-1719	540	5	qihoo	qihoo	VERB
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cblr-1719	540	10	.	.	PROPN
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cblr-1719	540	13	note	note	PROPN
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cblr-1719	541	4	,	,	PUNCT
cblr-1719	541	5	qihoo	qihoo	VERB
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cblr-1719	541	10	.	.	PROPN
cblr-1719	541	11	,	,	PUNCT
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cblr-1719	541	24	,	,	PUNCT
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cblr-1719	543	9	[	[	X
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cblr-1719	543	20	.	.	PUNCT
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cblr-1719	544	21	.	.	PUNCT
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cblr-1719	545	30	.	.	PUNCT
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cblr-1719	547	20	be	be	AUX
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cblr-1719	552	11	,	,	PUNCT
cblr-1719	552	12	(	(	PUNCT
cblr-1719	552	13	d	d	NOUN
cblr-1719	552	14	)	)	PUNCT
cblr-1719	552	15	,	,	PUNCT
cblr-1719	552	16	and	and	CCONJ
cblr-1719	552	17	(	(	PUNCT
cblr-1719	552	18	e	e	NOUN
cblr-1719	552	19	)	)	PUNCT
cblr-1719	552	20	(	(	PUNCT
cblr-1719	552	21	2016	2016	NUM
cblr-1719	552	22	)	)	PUNCT
cblr-1719	552	23	;	;	PUNCT
cblr-1719	552	24	melvin	melvin	PROPN
cblr-1719	552	25	aron	aron	PROPN
cblr-1719	552	26	eisenberg	eisenberg	PROPN
cblr-1719	552	27	&	&	CCONJ
cblr-1719	552	28	james	james	PROPN
cblr-1719	552	29	d.	d.	PROPN
cblr-1719	552	30	cox	cox	PROPN
cblr-1719	552	31	,	,	PUNCT
cblr-1719	552	32	business	business	NOUN
cblr-1719	552	33	organizations	organization	NOUN
cblr-1719	552	34	cases	case	NOUN
cblr-1719	552	35	and	and	CCONJ
cblr-1719	552	36	materials	material	NOUN
cblr-1719	552	37	1147–48	1147–48	NUM
cblr-1719	552	38	(	(	PUNCT
cblr-1719	552	39	11th	11th	NOUN
cblr-1719	552	40	ed	ed	NOUN
cblr-1719	552	41	.	.	PROPN
cblr-1719	552	42	2014	2014	NUM
cblr-1719	552	43	)	)	PUNCT
cblr-1719	552	44	;	;	PUNCT
cblr-1719	552	45	stephen	stephen	PROPN
cblr-1719	552	46	m.	m.	PROPN
cblr-1719	552	47	bainbridge	bainbridge	PROPN
cblr-1719	552	48	,	,	PUNCT
cblr-1719	552	49	mergers	merger	NOUN
cblr-1719	552	50	and	and	CCONJ
cblr-1719	552	51	acquisitions	acquisition	NOUN
cblr-1719	552	52	132–33	132–33	NUM
cblr-1719	552	53	(	(	PUNCT
cblr-1719	552	54	3rd	3rd	ADJ
cblr-1719	552	55	ed	ed	NOUN
cblr-1719	552	56	.	.	PROPN
cblr-1719	552	57	2012	2012	NUM
cblr-1719	552	58	)	)	PUNCT
cblr-1719	552	59	.	.	PUNCT
cblr-1719	553	1	183	183	NUM
cblr-1719	553	2	del	del	PROPN
cblr-1719	553	3	.	.	PROPN
cblr-1719	553	4	code	code	PROPN
cblr-1719	553	5	ann	ann	PROPN
cblr-1719	553	6	.	.	PUNCT
cblr-1719	553	7	tit	tit	PROPN
cblr-1719	553	8	.	.	PROPN
cblr-1719	553	9	8	8	NUM
cblr-1719	553	10	,	,	PUNCT
cblr-1719	553	11	§	§	PROPN
cblr-1719	553	12	262(b)(1	262(b)(1	NUM
cblr-1719	553	13	)	)	PUNCT
cblr-1719	553	14	(	(	PUNCT
cblr-1719	553	15	2016	2016	NUM
cblr-1719	553	16	)	)	PUNCT
cblr-1719	553	17	.	.	PUNCT
cblr-1719	554	1	184	184	NUM
cblr-1719	554	2	bainbridge	bainbridge	PROPN
cblr-1719	554	3	,	,	PUNCT
cblr-1719	554	4	supra	supra	PROPN
cblr-1719	554	5	note	note	PROPN
cblr-1719	554	6	182	182	NUM
cblr-1719	554	7	,	,	PUNCT
cblr-1719	554	8	at	at	ADP
cblr-1719	554	9	99–108	99–108	NUM
cblr-1719	554	10	.	.	PUNCT
cblr-1719	554	11	185	185	NUM
cblr-1719	554	12	the	the	DET
cblr-1719	554	13	law	law	NOUN
cblr-1719	554	14	in	in	ADP
cblr-1719	554	15	cayman	cayman	PROPN
cblr-1719	554	16	island	island	NOUN
cblr-1719	554	17	does	do	AUX
cblr-1719	554	18	not	not	PART
cblr-1719	554	19	dictate	dictate	VERB
cblr-1719	554	20	any	any	DET
cblr-1719	554	21	particular	particular	ADJ
cblr-1719	554	22	approach	approach	NOUN
cblr-1719	554	23	.	.	PUNCT
cblr-1719	555	1	see	see	VERB
cblr-1719	555	2	cayman	cayman	PROPN
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cblr-1719	555	5	first	first	ADJ
cblr-1719	555	6	ruling	rule	VERB
cblr-1719	555	7	on	on	ADP
cblr-1719	555	8	the	the	DET
cblr-1719	555	9	meaning	meaning	NOUN
cblr-1719	555	10	of	of	ADP
cblr-1719	555	11	“	"	PUNCT
cblr-1719	555	12	fair	fair	ADJ
cblr-1719	555	13	value	value	NOUN
cblr-1719	555	14	”	"	PUNCT
cblr-1719	555	15	under	under	ADP
cblr-1719	555	16	the	the	DET
cblr-1719	555	17	statutory	statutory	ADJ
cblr-1719	555	18	merger	merger	NOUN
cblr-1719	555	19	regime	regime	NOUN
cblr-1719	555	20	,	,	PUNCT
cblr-1719	555	21	mourant	mourant	PROPN
cblr-1719	555	22	ozannes	ozanne	NOUN
cblr-1719	555	23	(	(	PUNCT
cblr-1719	555	24	sept	sept	PROPN
cblr-1719	555	25	.	.	PROPN
cblr-1719	555	26	2015	2015	NUM
cblr-1719	555	27	)	)	PUNCT
cblr-1719	555	28	,	,	PUNCT
cblr-1719	555	29	https://www.mourantozannes.com/media/1393540/cayman-courtmakes-first-ruling-on-the-meaning-of-fair-value-under-the-statutorymerger-regime.pdf	https://www.mourantozannes.com/media/1393540/cayman-courtmakes-first-ruling-on-the-meaning-of-fair-value-under-the-statutorymerger-regime.pdf	PROPN
cblr-1719	556	1	[	[	X
cblr-1719	556	2	https://perma.cc/wd4j-ryab	https://perma.cc/wd4j-ryab	X
cblr-1719	556	3	]	]	X
cblr-1719	556	4	.	.	PUNCT
cblr-1719	557	1	“	"	PUNCT
cblr-1719	557	2	the	the	DET
cblr-1719	557	3	cayman	cayman	PROPN
cblr-1719	557	4	court	court	PROPN
cblr-1719	557	5	cited	cite	VERB
cblr-1719	557	6	canadian	canadian	PROPN
cblr-1719	557	7	and	and	CCONJ
cblr-1719	557	8	delaware	delaware	PROPN
cblr-1719	557	9	jurisprudence	jurisprudence	NOUN
cblr-1719	557	10	which	which	PRON
cblr-1719	557	11	establishes	establish	VERB
cblr-1719	557	12	that	that	SCONJ
cblr-1719	557	13	fair	fair	ADJ
cblr-1719	557	14	value	value	NOUN
cblr-1719	557	15	should	should	AUX
cblr-1719	557	16	be	be	AUX
cblr-1719	557	17	proved	prove	VERB
cblr-1719	557	18	by	by	ADP
cblr-1719	557	19	any	any	DET
cblr-1719	557	20	techniques	technique	NOUN
cblr-1719	557	21	or	or	CCONJ
cblr-1719	557	22	methods	method	NOUN
cblr-1719	557	23	which	which	PRON
cblr-1719	557	24	are	be	AUX
cblr-1719	557	25	generally	generally	ADV
cblr-1719	557	26	lin	lin	PROPN
cblr-1719	557	27	–	–	PUNCT
cblr-1719	557	28	final	final	ADJ
cblr-1719	557	29	no	no	NOUN
cblr-1719	557	30	.	.	PUNCT
cblr-1719	558	1	2:453	2:453	NUM
cblr-1719	558	2	]	]	X
cblr-1719	558	3	controlling	control	VERB
cblr-1719	558	4	-	-	PUNCT
cblr-1719	558	5	minority	minority	NOUN
cblr-1719	558	6	shareholders	shareholder	NOUN
cblr-1719	558	7	497	497	NUM
cblr-1719	558	8	companies	company	NOUN
cblr-1719	558	9	,	,	PUNCT
cblr-1719	558	10	trading	trading	NOUN
cblr-1719	558	11	prices	price	NOUN
cblr-1719	558	12	are	be	AUX
cblr-1719	558	13	likely	likely	ADJ
cblr-1719	558	14	to	to	PART
cblr-1719	558	15	be	be	AUX
cblr-1719	558	16	a	a	DET
cblr-1719	558	17	benchmark	benchmark	NOUN
cblr-1719	558	18	for	for	ADP
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cblr-1719	558	20	value	value	NOUN
cblr-1719	558	21	if	if	SCONJ
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cblr-1719	558	24	a	a	DET
cblr-1719	558	25	well	well	ADV
cblr-1719	558	26	-	-	PUNCT
cblr-1719	558	27	informed	inform	VERB
cblr-1719	558	28	and	and	CCONJ
cblr-1719	558	29	liquid	liquid	ADJ
cblr-1719	558	30	market	market	NOUN
cblr-1719	558	31	with	with	ADP
cblr-1719	558	32	a	a	DET
cblr-1719	558	33	large	large	ADJ
cblr-1719	558	34	public	public	NOUN
cblr-1719	558	35	float.186	float.186	PROPN
cblr-1719	558	36	therefore	therefore	ADV
cblr-1719	558	37	,	,	PUNCT
cblr-1719	558	38	even	even	ADV
cblr-1719	558	39	an	an	DET
cblr-1719	558	40	appraisal	appraisal	NOUN
cblr-1719	558	41	right	right	NOUN
cblr-1719	558	42	does	do	AUX
cblr-1719	558	43	not	not	PART
cblr-1719	558	44	help	help	VERB
cblr-1719	558	45	much	much	ADJ
cblr-1719	558	46	because	because	SCONJ
cblr-1719	558	47	insiders	insider	NOUN
cblr-1719	558	48	can	can	AUX
cblr-1719	558	49	choose	choose	VERB
cblr-1719	558	50	a	a	DET
cblr-1719	558	51	time	time	NOUN
cblr-1719	558	52	when	when	SCONJ
cblr-1719	558	53	the	the	DET
cblr-1719	558	54	price	price	NOUN
cblr-1719	558	55	and	and	CCONJ
cblr-1719	558	56	earnings	earning	NOUN
cblr-1719	558	57	performance	performance	NOUN
cblr-1719	558	58	will	will	AUX
cblr-1719	558	59	give	give	VERB
cblr-1719	558	60	an	an	DET
cblr-1719	558	61	unfairly	unfairly	ADV
cblr-1719	558	62	low	low	ADJ
cblr-1719	558	63	indication	indication	NOUN
cblr-1719	558	64	of	of	ADP
cblr-1719	558	65	the	the	DET
cblr-1719	558	66	company	company	NOUN
cblr-1719	558	67	’s	’s	PART
cblr-1719	558	68	true	true	ADJ
cblr-1719	558	69	value.187	value.187	ADP
cblr-1719	558	70	second	second	ADJ
cblr-1719	558	71	,	,	PUNCT
cblr-1719	558	72	the	the	DET
cblr-1719	558	73	going	go	VERB
cblr-1719	558	74	-	-	PUNCT
cblr-1719	558	75	private	private	ADJ
cblr-1719	558	76	transaction	transaction	NOUN
cblr-1719	558	77	had	have	VERB
cblr-1719	558	78	no	no	DET
cblr-1719	558	79	independent	independent	ADJ
cblr-1719	558	80	business	business	NOUN
cblr-1719	558	81	purpose	purpose	NOUN
cblr-1719	558	82	.	.	PUNCT
cblr-1719	559	1	the	the	DET
cblr-1719	559	2	only	only	ADJ
cblr-1719	559	3	reason	reason	NOUN
cblr-1719	559	4	to	to	PART
cblr-1719	559	5	go	go	VERB
cblr-1719	559	6	private	private	ADJ
cblr-1719	559	7	was	be	AUX
cblr-1719	559	8	that	that	SCONJ
cblr-1719	559	9	the	the	DET
cblr-1719	559	10	insiders	insider	NOUN
cblr-1719	559	11	wanted	want	VERB
cblr-1719	559	12	to	to	PART
cblr-1719	559	13	eliminate	eliminate	VERB
cblr-1719	559	14	the	the	DET
cblr-1719	559	15	minority	minority	NOUN
cblr-1719	559	16	public	public	ADJ
cblr-1719	559	17	investors	investor	NOUN
cblr-1719	559	18	and	and	CCONJ
cblr-1719	559	19	re	re	NOUN
cblr-1719	559	20	-	-	NOUN
cblr-1719	559	21	list	list	VERB
cblr-1719	559	22	the	the	DET
cblr-1719	559	23	company	company	NOUN
cblr-1719	559	24	in	in	ADP
cblr-1719	559	25	china	china	PROPN
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cblr-1719	559	27	the	the	DET
cblr-1719	559	28	market	market	NOUN
cblr-1719	559	29	valuation	valuation	NOUN
cblr-1719	559	30	would	would	AUX
cblr-1719	559	31	be	be	AUX
cblr-1719	559	32	much	much	ADV
cblr-1719	559	33	higher.188	higher.188	NOUN
cblr-1719	559	34	in	in	ADP
cblr-1719	559	35	the	the	DET
cblr-1719	559	36	united	united	PROPN
cblr-1719	559	37	states	states	PROPN
cblr-1719	559	38	,	,	PUNCT
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cblr-1719	559	40	state	state	NOUN
cblr-1719	559	41	courts	court	NOUN
cblr-1719	559	42	would	would	AUX
cblr-1719	559	43	closely	closely	ADV
cblr-1719	559	44	scrutinize	scrutinize	VERB
cblr-1719	559	45	the	the	DET
cblr-1719	559	46	deal	deal	NOUN
cblr-1719	559	47	if	if	SCONJ
cblr-1719	559	48	there	there	PRON
cblr-1719	559	49	were	be	VERB
cblr-1719	559	50	no	no	DET
cblr-1719	559	51	legitimate	legitimate	ADJ
cblr-1719	559	52	business	business	NOUN
cblr-1719	559	53	purpose	purpose	NOUN
cblr-1719	559	54	because	because	SCONJ
cblr-1719	559	55	there	there	PRON
cblr-1719	559	56	is	be	VERB
cblr-1719	559	57	a	a	DET
cblr-1719	559	58	higher	high	ADJ
cblr-1719	559	59	chance	chance	NOUN
cblr-1719	559	60	of	of	ADP
cblr-1719	559	61	expropriation.189	expropriation.189	PROPN
cblr-1719	559	62	in	in	ADP
cblr-1719	559	63	addition	addition	NOUN
cblr-1719	559	64	,	,	PUNCT
cblr-1719	559	65	the	the	DET
cblr-1719	559	66	founders	founder	NOUN
cblr-1719	559	67	considered	consider	VERB
cblr-1719	559	68	acceptable	acceptable	ADJ
cblr-1719	559	69	in	in	ADP
cblr-1719	559	70	the	the	DET
cblr-1719	559	71	financial	financial	ADJ
cblr-1719	559	72	community	community	NOUN
cblr-1719	559	73	and	and	CCONJ
cblr-1719	559	74	are	be	AUX
cblr-1719	559	75	otherwise	otherwise	ADV
cblr-1719	559	76	admissible	admissible	ADJ
cblr-1719	559	77	in	in	ADP
cblr-1719	559	78	court	court	NOUN
cblr-1719	559	79	.	.	PUNCT
cblr-1719	559	80	”	"	PUNCT
cblr-1719	560	1	i	i	PRON
cblr-1719	560	2	d.	d.	PROPN
cblr-1719	560	3	;	;	PUNCT
cblr-1719	560	4	see	see	VERB
cblr-1719	560	5	also	also	ADV
cblr-1719	560	6	weinberger	weinberger	PROPN
cblr-1719	560	7	v.	v.	ADP
cblr-1719	560	8	uop	uop	PROPN
cblr-1719	560	9	,	,	PUNCT
cblr-1719	560	10	inc	inc	PROPN
cblr-1719	560	11	.	.	PROPN
cblr-1719	560	12	,	,	PUNCT
cblr-1719	560	13	457	457	NUM
cblr-1719	560	14	a.2d	a.2d	SYM
cblr-1719	560	15	701	701	NUM
cblr-1719	560	16	,	,	PUNCT
cblr-1719	560	17	713	713	NUM
cblr-1719	560	18	(	(	PUNCT
cblr-1719	560	19	del	del	PROPN
cblr-1719	560	20	.	.	PROPN
cblr-1719	560	21	1983	1983	NUM
cblr-1719	560	22	)	)	PUNCT
cblr-1719	560	23	.	.	PUNCT
cblr-1719	561	1	186	186	NUM
cblr-1719	561	2	see	see	VERB
cblr-1719	561	3	cayman	cayman	PROPN
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cblr-1719	561	8	on	on	ADP
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cblr-1719	561	11	of	of	ADP
cblr-1719	561	12	“	"	PUNCT
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cblr-1719	561	15	”	"	PUNCT
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cblr-1719	561	25	;	;	PUNCT
cblr-1719	561	26	bainbridge	bainbridge	PROPN
cblr-1719	561	27	,	,	PUNCT
cblr-1719	561	28	supra	supra	PROPN
cblr-1719	561	29	note	note	PROPN
cblr-1719	561	30	182	182	NUM
cblr-1719	561	31	,	,	PUNCT
cblr-1719	561	32	at	at	ADP
cblr-1719	561	33	105	105	NUM
cblr-1719	561	34	.	.	PUNCT
cblr-1719	562	1	“	"	PUNCT
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cblr-1719	562	3	float	float	NOUN
cblr-1719	562	4	”	"	PUNCT
cblr-1719	562	5	refers	refer	VERB
cblr-1719	562	6	to	to	ADP
cblr-1719	562	7	the	the	DET
cblr-1719	562	8	percentage	percentage	NOUN
cblr-1719	562	9	of	of	ADP
cblr-1719	562	10	shares	share	NOUN
cblr-1719	562	11	available	available	ADJ
cblr-1719	562	12	to	to	ADP
cblr-1719	562	13	the	the	DET
cblr-1719	562	14	public	public	NOUN
cblr-1719	562	15	.	.	PUNCT
cblr-1719	563	1	see	see	VERB
cblr-1719	563	2	michael	michael	PROPN
cblr-1719	563	3	l.	l.	PROPN
cblr-1719	563	4	hartzmark	hartzmark	PROPN
cblr-1719	563	5	&	&	CCONJ
cblr-1719	563	6	h.	h.	PROPN
cblr-1719	563	7	nejat	nejat	PROPN
cblr-1719	563	8	seyhun	seyhun	PROPN
cblr-1719	563	9	,	,	PUNCT
cblr-1719	563	10	understanding	understand	VERB
cblr-1719	563	11	the	the	DET
cblr-1719	563	12	efficiency	efficiency	NOUN
cblr-1719	563	13	of	of	ADP
cblr-1719	563	14	the	the	DET
cblr-1719	563	15	market	market	NOUN
cblr-1719	563	16	for	for	ADP
cblr-1719	563	17	preferred	preferred	ADJ
cblr-1719	563	18	stock	stock	NOUN
cblr-1719	563	19	,	,	PUNCT
cblr-1719	563	20	8	8	NUM
cblr-1719	563	21	va	va	NOUN
cblr-1719	563	22	.	.	PUNCT
cblr-1719	563	23	l.	l.	PROPN
cblr-1719	563	24	&	&	CCONJ
cblr-1719	563	25	bus	bus	PROPN
cblr-1719	563	26	.	.	PUNCT
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cblr-1719	564	2	.	.	PROPN
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cblr-1719	564	6	(	(	PUNCT
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cblr-1719	564	8	)	)	PUNCT
cblr-1719	564	9	.	.	PUNCT
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cblr-1719	565	3	are	be	VERB
cblr-1719	565	4	three	three	NUM
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cblr-1719	565	6	valuation	valuation	NOUN
cblr-1719	565	7	methods	method	NOUN
cblr-1719	565	8	:	:	PUNCT
cblr-1719	565	9	net	net	ADJ
cblr-1719	565	10	asset	asset	NOUN
cblr-1719	565	11	value	value	NOUN
cblr-1719	565	12	,	,	PUNCT
cblr-1719	565	13	capitalized	capitalize	VERB
cblr-1719	565	14	earnings	earning	NOUN
cblr-1719	565	15	,	,	PUNCT
cblr-1719	565	16	and	and	CCONJ
cblr-1719	565	17	market	market	NOUN
cblr-1719	565	18	value	value	NOUN
cblr-1719	565	19	.	.	PUNCT
cblr-1719	566	1	net	net	ADJ
cblr-1719	566	2	asset	asset	NOUN
cblr-1719	566	3	valuation	valuation	NOUN
cblr-1719	566	4	is	be	AUX
cblr-1719	566	5	a	a	DET
cblr-1719	566	6	balance	balance	NOUN
cblr-1719	566	7	sheet	sheet	NOUN
cblr-1719	566	8	-	-	PUNCT
cblr-1719	566	9	based	base	VERB
cblr-1719	566	10	valuation	valuation	NOUN
cblr-1719	566	11	method	method	NOUN
cblr-1719	566	12	that	that	PRON
cblr-1719	566	13	requires	require	VERB
cblr-1719	566	14	an	an	DET
cblr-1719	566	15	appraisal	appraisal	NOUN
cblr-1719	566	16	of	of	ADP
cblr-1719	566	17	the	the	DET
cblr-1719	566	18	current	current	ADJ
cblr-1719	566	19	fair	fair	ADJ
cblr-1719	566	20	market	market	NOUN
cblr-1719	566	21	value	value	NOUN
cblr-1719	566	22	of	of	ADP
cblr-1719	566	23	the	the	DET
cblr-1719	566	24	corporation	corporation	NOUN
cblr-1719	566	25	’s	’s	PART
cblr-1719	566	26	assets	asset	NOUN
cblr-1719	566	27	on	on	ADP
cblr-1719	566	28	a	a	DET
cblr-1719	566	29	going	go	VERB
cblr-1719	566	30	concern	concern	NOUN
cblr-1719	566	31	basis	basis	NOUN
cblr-1719	566	32	.	.	PUNCT
cblr-1719	567	1	capitalized	capitalize	VERB
cblr-1719	567	2	earnings	earning	NOUN
cblr-1719	567	3	valuation	valuation	NOUN
cblr-1719	567	4	is	be	AUX
cblr-1719	567	5	an	an	DET
cblr-1719	567	6	income	income	NOUN
cblr-1719	567	7	statement	statement	NOUN
cblr-1719	567	8	-	-	PUNCT
cblr-1719	567	9	based	base	VERB
cblr-1719	567	10	valuation	valuation	NOUN
cblr-1719	567	11	method	method	NOUN
cblr-1719	567	12	that	that	PRON
cblr-1719	567	13	determines	determine	VERB
cblr-1719	567	14	fair	fair	ADJ
cblr-1719	567	15	value	value	NOUN
cblr-1719	567	16	by	by	ADP
cblr-1719	567	17	dividing	divide	VERB
cblr-1719	567	18	the	the	DET
cblr-1719	567	19	corporation	corporation	NOUN
cblr-1719	567	20	’s	’s	PART
cblr-1719	567	21	earnings	earning	NOUN
cblr-1719	567	22	per	per	ADP
cblr-1719	567	23	share	share	NOUN
cblr-1719	567	24	by	by	ADP
cblr-1719	567	25	a	a	DET
cblr-1719	567	26	capitalization	capitalization	NOUN
cblr-1719	567	27	rate	rate	NOUN
cblr-1719	567	28	(	(	PUNCT
cblr-1719	567	29	usually	usually	ADV
cblr-1719	567	30	the	the	DET
cblr-1719	567	31	reciprocal	reciprocal	NOUN
cblr-1719	567	32	of	of	ADP
cblr-1719	567	33	a	a	DET
cblr-1719	567	34	comparable	comparable	ADJ
cblr-1719	567	35	company	company	NOUN
cblr-1719	567	36	’s	’s	PART
cblr-1719	567	37	price	price	NOUN
cblr-1719	567	38	/	/	SYM
cblr-1719	567	39	earnings	earning	NOUN
cblr-1719	567	40	ratio	ratio	NOUN
cblr-1719	567	41	)	)	PUNCT
cblr-1719	567	42	.	.	PUNCT
cblr-1719	568	1	the	the	DET
cblr-1719	568	2	capitalized	capitalize	VERB
cblr-1719	568	3	earnings	earning	NOUN
cblr-1719	568	4	method	method	NOUN
cblr-1719	568	5	is	be	AUX
cblr-1719	568	6	frequently	frequently	ADV
cblr-1719	568	7	used	use	VERB
cblr-1719	568	8	to	to	PART
cblr-1719	568	9	value	value	VERB
cblr-1719	568	10	close	close	ADJ
cblr-1719	568	11	corporations	corporation	NOUN
cblr-1719	568	12	.	.	PUNCT
cblr-1719	569	1	the	the	DET
cblr-1719	569	2	market	market	NOUN
cblr-1719	569	3	value	value	NOUN
cblr-1719	569	4	method	method	NOUN
cblr-1719	569	5	relies	rely	VERB
cblr-1719	569	6	on	on	ADP
cblr-1719	569	7	the	the	DET
cblr-1719	569	8	market	market	NOUN
cblr-1719	569	9	value	value	NOUN
cblr-1719	569	10	of	of	ADP
cblr-1719	569	11	the	the	DET
cblr-1719	569	12	firm	firm	NOUN
cblr-1719	569	13	’s	’s	PART
cblr-1719	569	14	stock	stock	NOUN
cblr-1719	569	15	.	.	PUNCT
cblr-1719	570	1	therefore	therefore	ADV
cblr-1719	570	2	,	,	PUNCT
cblr-1719	570	3	market	market	NOUN
cblr-1719	570	4	prices	price	NOUN
cblr-1719	570	5	are	be	AUX
cblr-1719	570	6	considered	consider	VERB
cblr-1719	570	7	both	both	PRON
cblr-1719	570	8	in	in	ADP
cblr-1719	570	9	capitalized	capitalize	VERB
cblr-1719	570	10	earnings	earning	NOUN
cblr-1719	570	11	valuation	valuation	NOUN
cblr-1719	570	12	and	and	CCONJ
cblr-1719	570	13	the	the	DET
cblr-1719	570	14	market	market	NOUN
cblr-1719	570	15	value	value	NOUN
cblr-1719	570	16	method	method	NOUN
cblr-1719	570	17	.	.	PUNCT
cblr-1719	571	1	see	see	VERB
cblr-1719	571	2	bainbridge	bainbridge	PROPN
cblr-1719	571	3	,	,	PUNCT
cblr-1719	571	4	supra	supra	PROPN
cblr-1719	571	5	note	note	PROPN
cblr-1719	571	6	182	182	NUM
cblr-1719	571	7	,	,	PUNCT
cblr-1719	571	8	at	at	ADP
cblr-1719	571	9	99–105	99–105	NUM
cblr-1719	571	10	;	;	PUNCT
cblr-1719	571	11	robert	robert	PROPN
cblr-1719	571	12	charles	charles	PROPN
cblr-1719	571	13	clark	clark	PROPN
cblr-1719	571	14	,	,	PUNCT
cblr-1719	571	15	corporate	corporate	ADJ
cblr-1719	571	16	law	law	NOUN
cblr-1719	571	17	§	§	PROPN
cblr-1719	571	18	12.2	12.2	NUM
cblr-1719	571	19	(	(	PUNCT
cblr-1719	571	20	1986	1986	NUM
cblr-1719	571	21	)	)	PUNCT
cblr-1719	571	22	.	.	PUNCT
cblr-1719	572	1	188	188	NUM
cblr-1719	572	2	samuel	samuel	PROPN
cblr-1719	572	3	shen	shen	PROPN
cblr-1719	572	4	&	&	CCONJ
cblr-1719	572	5	pete	pete	PROPN
cblr-1719	572	6	sweeney	sweeney	PROPN
cblr-1719	572	7	,	,	PUNCT
cblr-1719	572	8	chinese	chinese	ADJ
cblr-1719	572	9	companies	company	NOUN
cblr-1719	572	10	relisting	reliste	VERB
cblr-1719	572	11	at	at	ADP
cblr-1719	572	12	home	home	NOUN
cblr-1719	572	13	attract	attract	NOUN
cblr-1719	572	14	swarm	swarm	NOUN
cblr-1719	572	15	of	of	ADP
cblr-1719	572	16	quick	quick	ADV
cblr-1719	572	17	-	-	PUNCT
cblr-1719	572	18	hit	hit	VERB
cblr-1719	572	19	investors	investor	NOUN
cblr-1719	572	20	,	,	PUNCT
cblr-1719	572	21	reuters	reuters	PROPN
cblr-1719	572	22	(	(	PUNCT
cblr-1719	572	23	june	june	PROPN
cblr-1719	572	24	29	29	NUM
cblr-1719	572	25	,	,	PUNCT
cblr-1719	572	26	2016	2016	NUM
cblr-1719	572	27	,	,	PUNCT
cblr-1719	572	28	7:17	7:17	NUM
cblr-1719	572	29	pm	pm	NOUN
cblr-1719	572	30	)	)	PUNCT
cblr-1719	572	31	,	,	PUNCT
cblr-1719	572	32	http://www.reuters.com/article/us-china-relisting-iduskcn0zf2vp	http://www.reuters.com/article/us-china-relisting-iduskcn0zf2vp	PROPN
cblr-1719	572	33	[	[	PUNCT
cblr-1719	572	34	https://perma.cc/7ukw-hw2	https://perma.cc/7ukw-hw2	PROPN
cblr-1719	572	35	m	m	NOUN
cblr-1719	572	36	]	]	X
cblr-1719	572	37	.	.	PUNCT
cblr-1719	573	1	189	189	NUM
cblr-1719	573	2	delaware	delaware	PROPN
cblr-1719	573	3	courts	court	NOUN
cblr-1719	573	4	abandoned	abandon	VERB
cblr-1719	573	5	the	the	DET
cblr-1719	573	6	business	business	NOUN
cblr-1719	573	7	purpose	purpose	NOUN
cblr-1719	573	8	test	test	NOUN
cblr-1719	573	9	in	in	ADP
cblr-1719	573	10	the	the	DET
cblr-1719	573	11	weinberger	weinberger	PROPN
cblr-1719	573	12	case	case	NOUN
cblr-1719	573	13	,	,	PUNCT
cblr-1719	573	14	but	but	CCONJ
cblr-1719	573	15	new	new	PROPN
cblr-1719	573	16	york	york	PROPN
cblr-1719	573	17	and	and	CCONJ
cblr-1719	573	18	massachusetts	massachusetts	PROPN
cblr-1719	573	19	continue	continue	VERB
cblr-1719	573	20	to	to	PART
cblr-1719	573	21	use	use	VERB
cblr-1719	573	22	the	the	DET
cblr-1719	573	23	lin	lin	PROPN
cblr-1719	573	24	–	–	PUNCT
cblr-1719	574	1	final	final	ADJ
cblr-1719	574	2	498	498	NUM
cblr-1719	574	3	columbia	columbia	PROPN
cblr-1719	574	4	business	business	NOUN
cblr-1719	574	5	law	law	PROPN
cblr-1719	574	6	review	review	NOUN
cblr-1719	574	7	[	[	X
cblr-1719	574	8	vol	vol	NOUN
cblr-1719	574	9	.	.	NOUN
cblr-1719	574	10	2017	2017	NUM
cblr-1719	574	11	and	and	CCONJ
cblr-1719	574	12	the	the	DET
cblr-1719	574	13	investor	investor	NOUN
cblr-1719	574	14	group	group	NOUN
cblr-1719	574	15	expect	expect	VERB
cblr-1719	574	16	to	to	PART
cblr-1719	574	17	reap	reap	VERB
cblr-1719	574	18	a	a	DET
cblr-1719	574	19	huge	huge	ADJ
cblr-1719	574	20	reward	reward	NOUN
cblr-1719	574	21	when	when	SCONJ
cblr-1719	574	22	they	they	PRON
cblr-1719	574	23	re	re	VERB
cblr-1719	574	24	-	-	NOUN
cblr-1719	574	25	list	list	VERB
cblr-1719	574	26	the	the	DET
cblr-1719	574	27	shares	share	NOUN
cblr-1719	574	28	in	in	ADP
cblr-1719	574	29	the	the	DET
cblr-1719	574	30	chinese	chinese	ADJ
cblr-1719	574	31	stock	stock	NOUN
cblr-1719	574	32	market	market	NOUN
cblr-1719	574	33	.	.	PUNCT
cblr-1719	575	1	commentators	commentator	NOUN
cblr-1719	575	2	expect	expect	VERB
cblr-1719	575	3	that	that	SCONJ
cblr-1719	575	4	the	the	DET
cblr-1719	575	5	market	market	NOUN
cblr-1719	575	6	value	value	NOUN
cblr-1719	575	7	of	of	ADP
cblr-1719	575	8	qihoo	qihoo	NOUN
cblr-1719	575	9	in	in	ADP
cblr-1719	575	10	the	the	DET
cblr-1719	575	11	chinese	chinese	ADJ
cblr-1719	575	12	market	market	NOUN
cblr-1719	575	13	will	will	AUX
cblr-1719	575	14	be	be	AUX
cblr-1719	575	15	more	more	ADJ
cblr-1719	575	16	than	than	ADP
cblr-1719	575	17	six	six	NUM
cblr-1719	575	18	times	time	NOUN
cblr-1719	575	19	that	that	PRON
cblr-1719	575	20	of	of	ADP
cblr-1719	575	21	its	its	PRON
cblr-1719	575	22	buyout	buyout	NOUN
cblr-1719	575	23	value	value	NOUN
cblr-1719	575	24	,	,	PUNCT
cblr-1719	575	25	but	but	CCONJ
cblr-1719	575	26	current	current	ADJ
cblr-1719	575	27	u.s	u.s	PROPN
cblr-1719	575	28	.	.	PROPN
cblr-1719	575	29	public	public	ADJ
cblr-1719	575	30	investors	investor	NOUN
cblr-1719	575	31	will	will	AUX
cblr-1719	575	32	not	not	PART
cblr-1719	575	33	be	be	AUX
cblr-1719	575	34	able	able	ADJ
cblr-1719	575	35	to	to	PART
cblr-1719	575	36	share	share	VERB
cblr-1719	575	37	in	in	ADP
cblr-1719	575	38	the	the	DET
cblr-1719	575	39	gains.190	gains.190	NOUN
cblr-1719	575	40	third	third	NOUN
cblr-1719	575	41	,	,	PUNCT
cblr-1719	575	42	the	the	DET
cblr-1719	575	43	qihoo	qihoo	NOUN
cblr-1719	575	44	freeze	freeze	NOUN
cblr-1719	575	45	-	-	PUNCT
cblr-1719	575	46	out	out	ADP
cblr-1719	575	47	transaction	transaction	NOUN
cblr-1719	575	48	,	,	PUNCT
cblr-1719	575	49	like	like	ADP
cblr-1719	575	50	most	most	ADJ
cblr-1719	575	51	other	other	ADJ
cblr-1719	575	52	privatization	privatization	NOUN
cblr-1719	575	53	deals	deal	NOUN
cblr-1719	575	54	of	of	ADP
cblr-1719	575	55	u.s.-listed	u.s.-listed	ADJ
cblr-1719	575	56	chinese	chinese	ADJ
cblr-1719	575	57	firms	firm	NOUN
cblr-1719	575	58	,	,	PUNCT
cblr-1719	575	59	is	be	AUX
cblr-1719	575	60	backed	back	VERB
cblr-1719	575	61	by	by	ADP
cblr-1719	575	62	not	not	PART
cblr-1719	575	63	only	only	ADV
cblr-1719	575	64	founders	founder	NOUN
cblr-1719	575	65	but	but	CCONJ
cblr-1719	575	66	also	also	ADV
cblr-1719	575	67	u.s	u.s	PROPN
cblr-1719	575	68	.	.	PROPN
cblr-1719	575	69	venture	venture	NOUN
cblr-1719	575	70	capital	capital	NOUN
cblr-1719	575	71	firms	firm	NOUN
cblr-1719	575	72	and	and	CCONJ
cblr-1719	575	73	other	other	ADJ
cblr-1719	575	74	chinese	chinese	ADJ
cblr-1719	575	75	institutional	institutional	ADJ
cblr-1719	575	76	investors.191	investors.191	NOUN
cblr-1719	575	77	the	the	DET
cblr-1719	575	78	investor	investor	NOUN
cblr-1719	575	79	group	group	NOUN
cblr-1719	575	80	was	be	AUX
cblr-1719	575	81	invited	invite	VERB
cblr-1719	575	82	and	and	CCONJ
cblr-1719	575	83	selected	select	VERB
cblr-1719	575	84	by	by	ADP
cblr-1719	575	85	the	the	DET
cblr-1719	575	86	founders	founder	NOUN
cblr-1719	575	87	without	without	ADP
cblr-1719	575	88	the	the	DET
cblr-1719	575	89	participation	participation	NOUN
cblr-1719	575	90	of	of	ADP
cblr-1719	575	91	u.s	u.s	PROPN
cblr-1719	575	92	.	.	PROPN
cblr-1719	575	93	public	public	ADJ
cblr-1719	575	94	shareholders	shareholder	NOUN
cblr-1719	575	95	.	.	PUNCT
cblr-1719	576	1	these	these	DET
cblr-1719	576	2	investors	investor	NOUN
cblr-1719	576	3	all	all	PRON
cblr-1719	576	4	expect	expect	VERB
cblr-1719	576	5	to	to	PART
cblr-1719	576	6	gain	gain	VERB
cblr-1719	576	7	a	a	DET
cblr-1719	576	8	huge	huge	ADJ
cblr-1719	576	9	profit	profit	NOUN
cblr-1719	576	10	from	from	ADP
cblr-1719	576	11	the	the	DET
cblr-1719	576	12	going	go	VERB
cblr-1719	576	13	-	-	PUNCT
cblr-1719	576	14	private	private	ADJ
cblr-1719	576	15	transaction	transaction	NOUN
cblr-1719	576	16	.	.	PUNCT
cblr-1719	577	1	a	a	DET
cblr-1719	577	2	recent	recent	ADJ
cblr-1719	577	3	news	news	NOUN
cblr-1719	577	4	report	report	NOUN
cblr-1719	577	5	reveals	reveal	VERB
cblr-1719	577	6	that	that	SCONJ
cblr-1719	577	7	some	some	DET
cblr-1719	577	8	domestic	domestic	ADJ
cblr-1719	577	9	financial	financial	ADJ
cblr-1719	577	10	institutions	institution	NOUN
cblr-1719	577	11	are	be	AUX
cblr-1719	577	12	promising	promise	VERB
cblr-1719	577	13	retail	retail	ADJ
cblr-1719	577	14	investors	investor	NOUN
cblr-1719	577	15	in	in	ADP
cblr-1719	577	16	china	china	PROPN
cblr-1719	577	17	a	a	DET
cblr-1719	577	18	500	500	NUM
cblr-1719	577	19	%	%	NOUN
cblr-1719	577	20	return	return	NOUN
cblr-1719	577	21	on	on	ADP
cblr-1719	577	22	products	product	NOUN
cblr-1719	577	23	that	that	PRON
cblr-1719	577	24	are	be	AUX
cblr-1719	577	25	linked	link	VERB
cblr-1719	577	26	to	to	AUX
cblr-1719	577	27	qihoo	qihoo	AUX
cblr-1719	577	28	’s	’s	PART
cblr-1719	577	29	relisting	reliste	VERB
cblr-1719	577	30	in	in	ADP
cblr-1719	577	31	china.192	china.192	NOUN
cblr-1719	577	32	such	such	DET
cblr-1719	577	33	a	a	DET
cblr-1719	577	34	promise	promise	NOUN
cblr-1719	577	35	suggests	suggest	VERB
cblr-1719	577	36	the	the	DET
cblr-1719	577	37	potential	potential	ADJ
cblr-1719	577	38	profits	profit	NOUN
cblr-1719	577	39	associated	associate	VERB
cblr-1719	577	40	with	with	ADP
cblr-1719	577	41	investing	invest	VERB
cblr-1719	577	42	in	in	ADP
cblr-1719	577	43	qihoo	qihoo	NOUN
cblr-1719	577	44	’s	’s	PART
cblr-1719	577	45	privatization	privatization	NOUN
cblr-1719	577	46	deal	deal	NOUN
cblr-1719	577	47	.	.	PUNCT
cblr-1719	578	1	finally	finally	ADV
cblr-1719	578	2	,	,	PUNCT
cblr-1719	578	3	most	most	ADJ
cblr-1719	578	4	of	of	ADP
cblr-1719	578	5	the	the	DET
cblr-1719	578	6	legal	legal	ADJ
cblr-1719	578	7	scrutiny	scrutiny	NOUN
cblr-1719	578	8	on	on	ADP
cblr-1719	578	9	the	the	DET
cblr-1719	578	10	extraction	extraction	NOUN
cblr-1719	578	11	of	of	ADP
cblr-1719	578	12	private	private	ADJ
cblr-1719	578	13	benefits	benefit	NOUN
cblr-1719	578	14	of	of	ADP
cblr-1719	578	15	control	control	NOUN
cblr-1719	578	16	in	in	ADP
cblr-1719	578	17	a	a	DET
cblr-1719	578	18	going	go	VERB
cblr-1719	578	19	-	-	PUNCT
cblr-1719	578	20	private	private	ADJ
cblr-1719	578	21	deal	deal	NOUN
cblr-1719	578	22	lies	lie	VERB
cblr-1719	578	23	with	with	ADP
cblr-1719	578	24	state	state	NOUN
cblr-1719	578	25	corporate	corporate	ADJ
cblr-1719	578	26	law	law	NOUN
cblr-1719	578	27	,	,	PUNCT
cblr-1719	578	28	not	not	PART
cblr-1719	578	29	federal	federal	ADJ
cblr-1719	578	30	securities	security	NOUN
cblr-1719	578	31	law	law	NOUN
cblr-1719	578	32	.	.	PUNCT
cblr-1719	579	1	federal	federal	ADJ
cblr-1719	579	2	securities	security	NOUN
cblr-1719	579	3	law	law	NOUN
cblr-1719	579	4	mainly	mainly	ADV
cblr-1719	579	5	focuses	focus	VERB
cblr-1719	579	6	on	on	ADP
cblr-1719	579	7	disclosure	disclosure	NOUN
cblr-1719	579	8	and	and	CCONJ
cblr-1719	579	9	anti	anti	ADJ
cblr-1719	579	10	-	-	NOUN
cblr-1719	579	11	fraud	fraud	NOUN
cblr-1719	579	12	,	,	PUNCT
cblr-1719	579	13	as	as	ADP
cblr-1719	579	14	in	in	ADP
cblr-1719	579	15	rule	rule	NOUN
cblr-1719	579	16	10b-5	10b-5	NUM
cblr-1719	579	17	and	and	CCONJ
cblr-1719	579	18	13e-3	13e-3	NUM
cblr-1719	579	19	,	,	PUNCT
cblr-1719	579	20	which	which	PRON
cblr-1719	579	21	have	have	VERB
cblr-1719	579	22	little	little	ADJ
cblr-1719	579	23	effect	effect	NOUN
cblr-1719	579	24	on	on	ADP
cblr-1719	579	25	the	the	DET
cblr-1719	579	26	structure	structure	NOUN
cblr-1719	579	27	of	of	ADP
cblr-1719	579	28	going	go	VERB
cblr-1719	579	29	-	-	PUNCT
cblr-1719	579	30	private	private	ADJ
cblr-1719	579	31	deals.193	deals.193	PROPN
cblr-1719	579	32	under	under	ADP
cblr-1719	579	33	delaware	delaware	PROPN
cblr-1719	579	34	law	law	PROPN
cblr-1719	579	35	,	,	PUNCT
cblr-1719	579	36	the	the	DET
cblr-1719	579	37	entire	entire	ADJ
cblr-1719	579	38	fairness	fairness	NOUN
cblr-1719	579	39	standard	standard	NOUN
cblr-1719	579	40	would	would	AUX
cblr-1719	579	41	apply	apply	VERB
cblr-1719	579	42	to	to	ADP
cblr-1719	579	43	a	a	DET
cblr-1719	579	44	freeze	freeze	VERB
cblr-1719	579	45	-	-	PUNCT
cblr-1719	579	46	out	out	ADP
cblr-1719	579	47	transaction	transaction	NOUN
cblr-1719	579	48	where	where	SCONJ
cblr-1719	579	49	the	the	DET
cblr-1719	579	50	majority	majority	NOUN
cblr-1719	579	51	shareholder	shareholder	NOUN
cblr-1719	579	52	is	be	AUX
cblr-1719	579	53	standing	stand	VERB
cblr-1719	579	54	on	on	ADP
cblr-1719	579	55	business	business	NOUN
cblr-1719	579	56	purpose	purpose	NOUN
cblr-1719	579	57	test	test	NOUN
cblr-1719	579	58	.	.	PUNCT
cblr-1719	580	1	see	see	VERB
cblr-1719	580	2	,	,	PUNCT
cblr-1719	580	3	e.g.	e.g.	ADV
cblr-1719	580	4	,	,	PUNCT
cblr-1719	580	5	coggins	coggin	NOUN
cblr-1719	580	6	v.	v.	ADP
cblr-1719	580	7	new	new	PROPN
cblr-1719	580	8	england	england	PROPN
cblr-1719	580	9	patriots	patriots	PROPN
cblr-1719	580	10	football	football	NOUN
cblr-1719	580	11	club	club	PROPN
cblr-1719	580	12	,	,	PUNCT
cblr-1719	580	13	inc	inc	PROPN
cblr-1719	580	14	.	.	PROPN
cblr-1719	580	15	,	,	PUNCT
cblr-1719	580	16	492	492	NUM
cblr-1719	580	17	n.e.2d	n.e.2d	NOUN
cblr-1719	580	18	1112	1112	NUM
cblr-1719	580	19	,	,	PUNCT
cblr-1719	580	20	1116–17	1116–17	NUM
cblr-1719	580	21	(	(	PUNCT
cblr-1719	580	22	mass	mass	PROPN
cblr-1719	580	23	.	.	PROPN
cblr-1719	580	24	1986	1986	NUM
cblr-1719	580	25	)	)	PUNCT
cblr-1719	580	26	.	.	PUNCT
cblr-1719	581	1	190	190	NUM
cblr-1719	581	2	lulu	lulu	PROPN
cblr-1719	581	3	yilun	yilun	PROPN
cblr-1719	581	4	chen	chen	PROPN
cblr-1719	581	5	&	&	CCONJ
cblr-1719	581	6	shai	shai	PROPN
cblr-1719	581	7	oster	oster	PROPN
cblr-1719	581	8	,	,	PUNCT
cblr-1719	581	9	a	a	DET
cblr-1719	581	10	slice	slice	NOUN
cblr-1719	581	11	of	of	ADP
cblr-1719	581	12	qihoo	qihoo	NOUN
cblr-1719	581	13	’s	’s	PART
cblr-1719	581	14	$	$	SYM
cblr-1719	581	15	9.3	9.3	NUM
cblr-1719	581	16	billion	billion	NUM
cblr-1719	581	17	buyout	buyout	NOUN
cblr-1719	581	18	for	for	ADP
cblr-1719	581	19	sale	sale	NOUN
cblr-1719	581	20	on	on	ADP
cblr-1719	581	21	china	china	PROPN
cblr-1719	581	22	streets	streets	PROPN
cblr-1719	581	23	,	,	PUNCT
cblr-1719	581	24	bloomberg	bloomberg	PROPN
cblr-1719	581	25	(	(	PUNCT
cblr-1719	581	26	june	june	PROPN
cblr-1719	581	27	27	27	NUM
cblr-1719	581	28	,	,	PUNCT
cblr-1719	581	29	2016	2016	NUM
cblr-1719	581	30	,	,	PUNCT
cblr-1719	581	31	8:01	8:01	NUM
cblr-1719	581	32	pm	pm	NOUN
cblr-1719	581	33	)	)	PUNCT
cblr-1719	581	34	,	,	PUNCT
cblr-1719	581	35	http://www.bloomberg.com/news/articles/2016-06-27/a-slice-of-qihoo-s-9-3billion-buyout-for-sale-on-china-streets	http://www.bloomberg.com/news/articles/2016-06-27/a-slice-of-qihoo-s-9-3billion-buyout-for-sale-on-china-street	NOUN
cblr-1719	582	1	[	[	X
cblr-1719	582	2	https://perma.cc/28jx-y3zm	https://perma.cc/28jx-y3zm	NOUN
cblr-1719	582	3	]	]	PUNCT
cblr-1719	582	4	.	.	PUNCT
cblr-1719	583	1	191	191	NUM
cblr-1719	583	2	qu	qu	PROPN
cblr-1719	583	3	yunxu	yunxu	PROPN
cblr-1719	583	4	&	&	CCONJ
cblr-1719	583	5	wang	wang	PROPN
cblr-1719	583	6	qionghui	qionghui	PROPN
cblr-1719	583	7	,	,	PUNCT
cblr-1719	583	8	several	several	ADJ
cblr-1719	583	9	buyout	buyout	NOUN
cblr-1719	583	10	investors	investor	NOUN
cblr-1719	583	11	backing	back	VERB
cblr-1719	583	12	qihoo	qihoo	PROPN
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cblr-1719	583	14	concern	concern	NOUN
cblr-1719	583	15	over	over	ADP
cblr-1719	583	16	firm	firm	NOUN
cblr-1719	583	17	’s	’s	PART
cblr-1719	583	18	relisting	reliste	VERB
cblr-1719	583	19	arrangement	arrangement	NOUN
cblr-1719	583	20	,	,	PUNCT
cblr-1719	583	21	caixin	caixin	PROPN
cblr-1719	583	22	online	online	PROPN
cblr-1719	583	23	(	(	PUNCT
cblr-1719	583	24	aug	aug	PROPN
cblr-1719	583	25	.	.	PROPN
cblr-1719	583	26	4	4	NUM
cblr-1719	583	27	,	,	PUNCT
cblr-1719	583	28	2016	2016	NUM
cblr-1719	583	29	,	,	PUNCT
cblr-1719	583	30	7:04	7:04	NUM
cblr-1719	583	31	am	am	NOUN
cblr-1719	583	32	)	)	PUNCT
cblr-1719	583	33	,	,	PUNCT
cblr-1719	583	34	http://www.caixinglobal.com/2016-0804/101011470.html	http://www.caixinglobal.com/2016-0804/101011470.html	PROPN
cblr-1719	583	35	(	(	PUNCT
cblr-1719	583	36	last	last	ADJ
cblr-1719	583	37	visited	visit	VERB
cblr-1719	583	38	feb	feb	PROPN
cblr-1719	583	39	.	.	PROPN
cblr-1719	583	40	25	25	NUM
cblr-1719	583	41	,	,	PUNCT
cblr-1719	583	42	2017	2017	NUM
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cblr-1719	584	1	[	[	X
cblr-1719	584	2	https://perma.cc/kx4kuzed	https://perma.cc/kx4kuze	VERB
cblr-1719	584	3	]	]	PUNCT
cblr-1719	584	4	.	.	PUNCT
cblr-1719	585	1	192	192	NUM
cblr-1719	585	2	i	i	PRON
cblr-1719	585	3	d.	d.	PROPN
cblr-1719	585	4	193	193	NUM
cblr-1719	585	5	see	see	VERB
cblr-1719	585	6	clark	clark	NOUN
cblr-1719	585	7	,	,	PUNCT
cblr-1719	585	8	supra	supra	PROPN
cblr-1719	585	9	note	note	PROPN
cblr-1719	585	10	187	187	NUM
cblr-1719	585	11	,	,	PUNCT
cblr-1719	585	12	at	at	ADP
cblr-1719	585	13	524	524	NUM
cblr-1719	585	14	.	.	PUNCT
cblr-1719	586	1	lin	lin	PROPN
cblr-1719	586	2	–	–	PUNCT
cblr-1719	586	3	final	final	ADJ
cblr-1719	586	4	no	no	NOUN
cblr-1719	586	5	.	.	PUNCT
cblr-1719	586	6	2:453	2:453	NUM
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cblr-1719	586	8	controlling	control	VERB
cblr-1719	586	9	-	-	PUNCT
cblr-1719	586	10	minority	minority	NOUN
cblr-1719	586	11	shareholders	shareholder	NOUN
cblr-1719	586	12	499	499	NUM
cblr-1719	586	13	both	both	DET
cblr-1719	586	14	sides	side	NOUN
cblr-1719	586	15	of	of	ADP
cblr-1719	586	16	the	the	DET
cblr-1719	586	17	transaction.194	transaction.194	NOUN
cblr-1719	586	18	however	however	ADV
cblr-1719	586	19	,	,	PUNCT
cblr-1719	586	20	if	if	SCONJ
cblr-1719	586	21	the	the	DET
cblr-1719	586	22	transaction	transaction	NOUN
cblr-1719	586	23	is	be	AUX
cblr-1719	586	24	approved	approve	VERB
cblr-1719	586	25	ex	ex	PRON
cblr-1719	586	26	ante	ante	NOUN
cblr-1719	586	27	by	by	ADP
cblr-1719	586	28	a	a	DET
cblr-1719	586	29	truly	truly	ADV
cblr-1719	586	30	independent	independent	ADJ
cblr-1719	586	31	and	and	CCONJ
cblr-1719	586	32	empowered	empowered	ADJ
cblr-1719	586	33	committee	committee	NOUN
cblr-1719	586	34	as	as	ADV
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cblr-1719	586	36	as	as	ADP
cblr-1719	586	37	by	by	ADP
cblr-1719	586	38	an	an	DET
cblr-1719	586	39	informed	informed	ADJ
cblr-1719	586	40	majority	majority	NOUN
cblr-1719	586	41	of	of	ADP
cblr-1719	586	42	minority	minority	NOUN
cblr-1719	586	43	shareholders	shareholder	NOUN
cblr-1719	586	44	,	,	PUNCT
cblr-1719	586	45	the	the	DET
cblr-1719	586	46	business	business	NOUN
cblr-1719	586	47	judgment	judgment	NOUN
cblr-1719	586	48	rule	rule	NOUN
cblr-1719	586	49	would	would	AUX
cblr-1719	586	50	apply	apply	VERB
cblr-1719	586	51	and	and	CCONJ
cblr-1719	586	52	the	the	DET
cblr-1719	586	53	burden	burden	NOUN
cblr-1719	586	54	of	of	ADP
cblr-1719	586	55	proof	proof	NOUN
cblr-1719	586	56	on	on	ADP
cblr-1719	586	57	the	the	DET
cblr-1719	586	58	issue	issue	NOUN
cblr-1719	586	59	of	of	ADP
cblr-1719	586	60	fairness	fairness	NOUN
cblr-1719	586	61	would	would	AUX
cblr-1719	586	62	shift	shift	VERB
cblr-1719	586	63	from	from	ADP
cblr-1719	586	64	the	the	DET
cblr-1719	586	65	controlling	control	VERB
cblr-1719	586	66	shareholder	shareholder	NOUN
cblr-1719	586	67	to	to	ADP
cblr-1719	586	68	the	the	DET
cblr-1719	586	69	challenging	challenge	VERB
cblr-1719	586	70	shareholderplaintiff.195	shareholderplaintiff.195	NOUN
cblr-1719	586	71	hence	hence	ADV
cblr-1719	586	72	,	,	PUNCT
cblr-1719	586	73	approvals	approval	NOUN
cblr-1719	586	74	by	by	ADP
cblr-1719	586	75	an	an	DET
cblr-1719	586	76	empowered	empower	VERB
cblr-1719	586	77	independent	independent	ADJ
cblr-1719	586	78	committee	committee	NOUN
cblr-1719	586	79	and	and	CCONJ
cblr-1719	586	80	majority	majority	NOUN
cblr-1719	586	81	of	of	ADP
cblr-1719	586	82	minority	minority	NOUN
cblr-1719	586	83	shareholders	shareholder	NOUN
cblr-1719	586	84	serve	serve	VERB
cblr-1719	586	85	as	as	ADP
cblr-1719	586	86	important	important	ADJ
cblr-1719	586	87	ex	ex	X
cblr-1719	586	88	ante	ante	NOUN
cblr-1719	586	89	safeguards	safeguard	NOUN
cblr-1719	586	90	for	for	ADP
cblr-1719	586	91	the	the	DET
cblr-1719	586	92	interest	interest	NOUN
cblr-1719	586	93	of	of	ADP
cblr-1719	586	94	minority	minority	NOUN
cblr-1719	586	95	shareholders	shareholder	NOUN
cblr-1719	586	96	in	in	ADP
cblr-1719	586	97	a	a	DET
cblr-1719	586	98	going	go	VERB
cblr-1719	586	99	-	-	PUNCT
cblr-1719	586	100	private	private	ADJ
cblr-1719	586	101	transaction	transaction	NOUN
cblr-1719	586	102	by	by	ADP
cblr-1719	586	103	controlling	control	VERB
cblr-1719	586	104	shareholders	shareholder	NOUN
cblr-1719	586	105	.	.	PUNCT
cblr-1719	587	1	in	in	ADP
cblr-1719	587	2	the	the	DET
cblr-1719	587	3	case	case	NOUN
cblr-1719	587	4	of	of	ADP
cblr-1719	587	5	qihoo	qihoo	NOUN
cblr-1719	587	6	,	,	PUNCT
cblr-1719	587	7	it	it	PRON
cblr-1719	587	8	is	be	AUX
cblr-1719	587	9	not	not	PART
cblr-1719	587	10	subject	subject	ADJ
cblr-1719	587	11	to	to	ADP
cblr-1719	587	12	the	the	DET
cblr-1719	587	13	laws	law	NOUN
cblr-1719	587	14	of	of	ADP
cblr-1719	587	15	delaware	delaware	PROPN
cblr-1719	587	16	because	because	SCONJ
cblr-1719	587	17	qihoo	qihoo	PROPN
cblr-1719	587	18	is	be	AUX
cblr-1719	587	19	incorporated	incorporate	VERB
cblr-1719	587	20	in	in	ADP
cblr-1719	587	21	the	the	DET
cblr-1719	587	22	cayman	cayman	NOUN
cblr-1719	587	23	islands.196	islands.196	PROPN
cblr-1719	587	24	since	since	SCONJ
cblr-1719	587	25	the	the	DET
cblr-1719	587	26	laws	law	NOUN
cblr-1719	587	27	of	of	ADP
cblr-1719	587	28	the	the	DET
cblr-1719	587	29	cayman	cayman	PROPN
cblr-1719	587	30	islands	island	NOUN
cblr-1719	587	31	do	do	AUX
cblr-1719	587	32	not	not	PART
cblr-1719	587	33	require	require	VERB
cblr-1719	587	34	a	a	DET
cblr-1719	587	35	majority	majority	NOUN
cblr-1719	587	36	of	of	ADP
cblr-1719	587	37	minority	minority	NOUN
cblr-1719	587	38	shareholder	shareholder	NOUN
cblr-1719	587	39	vote	vote	NOUN
cblr-1719	587	40	,	,	PUNCT
cblr-1719	587	41	shareholders	shareholder	NOUN
cblr-1719	587	42	who	who	PRON
cblr-1719	587	43	are	be	AUX
cblr-1719	587	44	related	relate	VERB
cblr-1719	587	45	to	to	ADP
cblr-1719	587	46	the	the	DET
cblr-1719	587	47	buyer	buyer	NOUN
cblr-1719	587	48	’s	’s	PART
cblr-1719	587	49	group	group	NOUN
cblr-1719	587	50	are	be	AUX
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cblr-1719	587	52	to	to	PART
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cblr-1719	587	54	in	in	ADP
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cblr-1719	588	4	lynch	lynch	PROPN
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cblr-1719	588	8	,	,	PUNCT
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cblr-1719	588	13	a.2d	a.2d	SYM
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cblr-1719	588	17	(	(	PUNCT
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cblr-1719	588	19	.	.	PROPN
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cblr-1719	589	4	,	,	PUNCT
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cblr-1719	589	16	in	in	ADP
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cblr-1719	589	20	in	in	ADP
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cblr-1719	589	23	of	of	ADP
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cblr-1719	589	33	.	.	PUNCT
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cblr-1719	590	2	in	in	ADP
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cblr-1719	590	9	,	,	PUNCT
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cblr-1719	590	11	.	.	PROPN
cblr-1719	590	12	,	,	PUNCT
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cblr-1719	591	1	,	,	PUNCT
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cblr-1719	591	5	(	(	PUNCT
cblr-1719	591	6	n.y	n.y	PROPN
cblr-1719	591	7	.	.	PROPN
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cblr-1719	591	9	)	)	PUNCT
cblr-1719	591	10	.	.	PUNCT
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cblr-1719	592	2	,	,	PUNCT
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cblr-1719	592	6	in	in	ADP
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cblr-1719	592	8	,	,	PUNCT
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cblr-1719	592	45	a	a	DET
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cblr-1719	593	24	,	,	PUNCT
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cblr-1719	594	20	-	-	PUNCT
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cblr-1719	597	39	[	[	X
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cblr-1719	598	76	which	which	PRON
cblr-1719	598	77	means	mean	VERB
cblr-1719	598	78	that	that	SCONJ
cblr-1719	598	79	a	a	DET
cblr-1719	598	80	substantial	substantial	ADJ
cblr-1719	598	81	portion	portion	NOUN
cblr-1719	598	82	of	of	ADP
cblr-1719	598	83	the	the	DET
cblr-1719	598	84	insiders	insider	NOUN
cblr-1719	598	85	have	have	VERB
cblr-1719	598	86	disproportionate	disproportionate	ADJ
cblr-1719	598	87	control	control	NOUN
cblr-1719	598	88	and	and	CCONJ
cblr-1719	598	89	can	can	AUX
cblr-1719	598	90	influence	influence	VERB
cblr-1719	598	91	,	,	PUNCT
cblr-1719	598	92	or	or	CCONJ
cblr-1719	598	93	even	even	ADV
cblr-1719	598	94	dominate	dominate	VERB
cblr-1719	598	95	,	,	PUNCT
cblr-1719	598	96	the	the	DET
cblr-1719	598	97	shareholder	shareholder	NOUN
cblr-1719	598	98	approval	approval	NOUN
cblr-1719	598	99	for	for	ADP
cblr-1719	598	100	going	go	VERB
cblr-1719	598	101	-	-	PUNCT
cblr-1719	598	102	private	private	ADJ
cblr-1719	598	103	mergers.202	mergers.202	NOUN
cblr-1719	598	104	the	the	DET
cblr-1719	598	105	leveraged	leverage	VERB
cblr-1719	598	106	control	control	NOUN
cblr-1719	598	107	of	of	ADP
cblr-1719	598	108	these	these	DET
cblr-1719	598	109	firms	firm	NOUN
cblr-1719	598	110	exacerbates	exacerbate	VERB
cblr-1719	598	111	the	the	DET
cblr-1719	598	112	expropriation	expropriation	NOUN
cblr-1719	598	113	concern	concern	NOUN
cblr-1719	598	114	because	because	SCONJ
cblr-1719	598	115	shareholder	shareholder	NOUN
cblr-1719	598	116	approval	approval	NOUN
cblr-1719	598	117	serves	serve	VERB
cblr-1719	598	118	no	no	DET
cblr-1719	598	119	scrutiny	scrutiny	NOUN
cblr-1719	598	120	function	function	NOUN
cblr-1719	598	121	to	to	PART
cblr-1719	598	122	mitigate	mitigate	VERB
cblr-1719	598	123	the	the	DET
cblr-1719	598	124	conflict	conflict	NOUN
cblr-1719	598	125	of	of	ADP
cblr-1719	598	126	interest	interest	NOUN
cblr-1719	598	127	problem	problem	NOUN
cblr-1719	598	128	in	in	ADP
cblr-1719	598	129	a	a	DET
cblr-1719	598	130	going	go	VERB
cblr-1719	598	131	-	-	PUNCT
cblr-1719	598	132	private	private	ADJ
cblr-1719	598	133	decision	decision	NOUN
cblr-1719	598	134	.	.	PUNCT
cblr-1719	599	1	lessons_learnt_from_take_private_transactions.pdf	lessons_learnt_from_take_private_transactions.pdf	NOUN
cblr-1719	600	1	[	[	X
cblr-1719	600	2	https://perma.cc/	https://perma.cc/	VERB
cblr-1719	600	3	k368	k368	PROPN
cblr-1719	600	4	-	-	PUNCT
cblr-1719	600	5	bjhg	bjhg	PROPN
cblr-1719	600	6	]	]	PUNCT
cblr-1719	600	7	.	.	PUNCT
cblr-1719	601	1	198	198	NUM
cblr-1719	601	2	“	"	PUNCT
cblr-1719	601	3	global	global	ADJ
cblr-1719	601	4	village	village	NOUN
cblr-1719	601	5	associates	associate	NOUN
cblr-1719	601	6	limited	limit	VERB
cblr-1719	601	7	,	,	PUNCT
cblr-1719	601	8	an	an	DET
cblr-1719	601	9	entity	entity	NOUN
cblr-1719	601	10	controlled	control	VERB
cblr-1719	601	11	by	by	ADP
cblr-1719	601	12	mr	mr	PROPN
cblr-1719	601	13	.	.	PROPN
cblr-1719	601	14	hongyi	hongyi	PROPN
cblr-1719	601	15	zhou	zhou	PROPN
cblr-1719	601	16	,	,	PUNCT
cblr-1719	601	17	and	and	CCONJ
cblr-1719	601	18	young	young	ADJ
cblr-1719	601	19	vision	vision	NOUN
cblr-1719	601	20	group	group	NOUN
cblr-1719	601	21	limited	limit	VERB
cblr-1719	601	22	,	,	PUNCT
cblr-1719	601	23	an	an	DET
cblr-1719	601	24	entity	entity	NOUN
cblr-1719	601	25	controlled	control	VERB
cblr-1719	601	26	by	by	ADP
cblr-1719	601	27	mr	mr	PROPN
cblr-1719	601	28	.	.	PROPN
cblr-1719	601	29	xiangdong	xiangdong	PROPN
cblr-1719	601	30	qi	qi	PROPN
cblr-1719	601	31	,	,	PUNCT
cblr-1719	601	32	have	have	AUX
cblr-1719	601	33	agreed	agree	VERB
cblr-1719	601	34	to	to	PART
cblr-1719	601	35	vote	vote	VERB
cblr-1719	601	36	all	all	PRON
cblr-1719	601	37	of	of	ADP
cblr-1719	601	38	the	the	DET
cblr-1719	601	39	shares	share	NOUN
cblr-1719	601	40	they	they	PRON
cblr-1719	601	41	beneficially	beneficially	ADV
cblr-1719	601	42	own	own	ADJ
cblr-1719	601	43	,	,	PUNCT
cblr-1719	601	44	which	which	PRON
cblr-1719	601	45	represent	represent	VERB
cblr-1719	601	46	approximately	approximately	ADV
cblr-1719	601	47	61	61	NUM
cblr-1719	601	48	%	%	NOUN
cblr-1719	601	49	of	of	ADP
cblr-1719	601	50	the	the	DET
cblr-1719	601	51	voting	voting	NOUN
cblr-1719	601	52	rights	right	NOUN
cblr-1719	601	53	attached	attach	VERB
cblr-1719	601	54	to	to	ADP
cblr-1719	601	55	the	the	DET
cblr-1719	601	56	outstanding	outstanding	ADJ
cblr-1719	601	57	shares	share	NOUN
cblr-1719	601	58	as	as	ADP
cblr-1719	601	59	of	of	ADP
cblr-1719	601	60	the	the	DET
cblr-1719	601	61	date	date	NOUN
cblr-1719	601	62	of	of	ADP
cblr-1719	601	63	the	the	DET
cblr-1719	601	64	merger	merger	NOUN
cblr-1719	601	65	agreement	agreement	NOUN
cblr-1719	601	66	,	,	PUNCT
cblr-1719	601	67	in	in	ADP
cblr-1719	601	68	favor	favor	NOUN
cblr-1719	601	69	of	of	ADP
cblr-1719	601	70	the	the	DET
cblr-1719	601	71	authorization	authorization	NOUN
cblr-1719	601	72	and	and	CCONJ
cblr-1719	601	73	approval	approval	NOUN
cblr-1719	601	74	of	of	ADP
cblr-1719	601	75	the	the	DET
cblr-1719	601	76	merger	merger	NOUN
cblr-1719	601	77	agreement	agreement	NOUN
cblr-1719	601	78	and	and	CCONJ
cblr-1719	601	79	the	the	DET
cblr-1719	601	80	merger	merger	NOUN
cblr-1719	601	81	.	.	PUNCT
cblr-1719	601	82	”	"	PUNCT
cblr-1719	602	1	press	press	NOUN
cblr-1719	602	2	release	release	NOUN
cblr-1719	602	3	,	,	PUNCT
cblr-1719	602	4	qihoo	qihoo	VERB
cblr-1719	602	5	360	360	NUM
cblr-1719	602	6	technology	technology	PROPN
cblr-1719	602	7	co.	co.	PROPN
cblr-1719	602	8	ltd	ltd	PROPN
cblr-1719	602	9	.	.	PROPN
cblr-1719	602	10	,	,	PUNCT
cblr-1719	602	11	supra	supra	PROPN
cblr-1719	602	12	note	note	PROPN
cblr-1719	602	13	177	177	NUM
cblr-1719	602	14	.	.	PUNCT
cblr-1719	603	1	199	199	NUM
cblr-1719	604	1	i	i	NOUN
cblr-1719	604	2	d.	d.	PROPN
cblr-1719	604	3	200	200	NUM
cblr-1719	604	4	lin	lin	PROPN
cblr-1719	604	5	,	,	PUNCT
cblr-1719	604	6	2016	2016	NUM
cblr-1719	604	7	u.s.-listed	u.s.-liste	VERB
cblr-1719	604	8	chinese	chinese	ADJ
cblr-1719	604	9	firms	firm	NOUN
cblr-1719	604	10	going	go	VERB
cblr-1719	604	11	-	-	PUNCT
cblr-1719	604	12	private	private	ADJ
cblr-1719	604	13	transactions	transaction	NOUN
cblr-1719	604	14	data	datum	NOUN
cblr-1719	604	15	base	base	NOUN
cblr-1719	604	16	(	(	PUNCT
cblr-1719	604	17	on	on	ADP
cblr-1719	604	18	file	file	NOUN
cblr-1719	604	19	with	with	ADP
cblr-1719	604	20	author	author	NOUN
cblr-1719	604	21	)	)	PUNCT
cblr-1719	604	22	.	.	PUNCT
cblr-1719	605	1	201	201	NUM
cblr-1719	606	1	i	i	PRON
cblr-1719	606	2	d.	d.	NOUN
cblr-1719	606	3	202	202	NUM
cblr-1719	607	1	i	i	PRON
cblr-1719	607	2	d.	d.	PROPN
cblr-1719	607	3	lin	lin	PROPN
cblr-1719	607	4	–	–	PUNCT
cblr-1719	607	5	final	final	ADJ
cblr-1719	607	6	no	no	NOUN
cblr-1719	607	7	.	.	PUNCT
cblr-1719	608	1	2:453	2:453	NUM
cblr-1719	608	2	]	]	X
cblr-1719	608	3	controlling	control	VERB
cblr-1719	608	4	-	-	PUNCT
cblr-1719	608	5	minority	minority	NOUN
cblr-1719	608	6	shareholders	shareholder	NOUN
cblr-1719	608	7	501	501	NUM
cblr-1719	608	8	v.	v.	ADP
cblr-1719	608	9	governing	govern	VERB
cblr-1719	608	10	midstream	midstream	NOUN
cblr-1719	608	11	pro	pro	ADJ
cblr-1719	608	12	-	-	ADJ
cblr-1719	608	13	insider	insider	ADJ
cblr-1719	608	14	distortions	distortion	NOUN
cblr-1719	608	15	a.	a.	NOUN
cblr-1719	608	16	prohibiting	prohibit	VERB
cblr-1719	608	17	leveraged	leveraged	ADJ
cblr-1719	608	18	corporate	corporate	ADJ
cblr-1719	608	19	control	control	NOUN
cblr-1719	608	20	?	?	PUNCT
cblr-1719	609	1	the	the	DET
cblr-1719	609	2	inability	inability	NOUN
cblr-1719	609	3	of	of	ADP
cblr-1719	609	4	minority	minority	NOUN
cblr-1719	609	5	shareholders	shareholder	NOUN
cblr-1719	609	6	to	to	PART
cblr-1719	609	7	act	act	VERB
cblr-1719	609	8	in	in	ADP
cblr-1719	609	9	response	response	NOUN
cblr-1719	609	10	to	to	ADP
cblr-1719	609	11	inefficient	inefficient	ADJ
cblr-1719	609	12	governance	governance	NOUN
cblr-1719	609	13	rules	rule	NOUN
cblr-1719	609	14	or	or	CCONJ
cblr-1719	609	15	other	other	ADJ
cblr-1719	609	16	value	value	NOUN
cblr-1719	609	17	-	-	PUNCT
cblr-1719	609	18	destroying	destroy	VERB
cblr-1719	609	19	business	business	NOUN
cblr-1719	609	20	decisions	decision	NOUN
cblr-1719	609	21	in	in	ADP
cblr-1719	609	22	a	a	DET
cblr-1719	609	23	leveraged	leverage	VERB
cblr-1719	609	24	control	control	NOUN
cblr-1719	609	25	firm	firm	NOUN
cblr-1719	609	26	can	can	AUX
cblr-1719	609	27	partly	partly	ADV
cblr-1719	609	28	be	be	AUX
cblr-1719	609	29	cured	cure	VERB
cblr-1719	609	30	with	with	ADP
cblr-1719	609	31	proper	proper	ADJ
cblr-1719	609	32	legal	legal	ADJ
cblr-1719	609	33	intervention	intervention	NOUN
cblr-1719	609	34	.	.	PUNCT
cblr-1719	610	1	for	for	ADP
cblr-1719	610	2	instance	instance	NOUN
cblr-1719	610	3	,	,	PUNCT
cblr-1719	610	4	mandatory	mandatory	ADJ
cblr-1719	610	5	rules	rule	NOUN
cblr-1719	610	6	that	that	PRON
cblr-1719	610	7	forbid	forbid	VERB
cblr-1719	610	8	the	the	DET
cblr-1719	610	9	adoption	adoption	NOUN
cblr-1719	610	10	of	of	ADP
cblr-1719	610	11	controlenhancing	controlenhance	VERB
cblr-1719	610	12	mechanisms	mechanism	NOUN
cblr-1719	610	13	could	could	AUX
cblr-1719	610	14	be	be	AUX
cblr-1719	610	15	a	a	DET
cblr-1719	610	16	sensible	sensible	ADJ
cblr-1719	610	17	solution	solution	NOUN
cblr-1719	610	18	to	to	ADP
cblr-1719	610	19	the	the	DET
cblr-1719	610	20	currently	currently	ADV
cblr-1719	610	21	distorted	distort	VERB
cblr-1719	610	22	system.203	system.203	NOUN
cblr-1719	610	23	mandatory	mandatory	ADJ
cblr-1719	610	24	rules	rule	NOUN
cblr-1719	610	25	in	in	ADP
cblr-1719	610	26	corporate	corporate	ADJ
cblr-1719	610	27	law	law	NOUN
cblr-1719	610	28	can	can	AUX
cblr-1719	610	29	restore	restore	VERB
cblr-1719	610	30	the	the	DET
cblr-1719	610	31	imbalance	imbalance	NOUN
cblr-1719	610	32	of	of	ADP
cblr-1719	610	33	power	power	NOUN
cblr-1719	610	34	between	between	ADP
cblr-1719	610	35	controllers	controller	NOUN
cblr-1719	610	36	and	and	CCONJ
cblr-1719	610	37	minority	minority	NOUN
cblr-1719	610	38	shareholders	shareholder	NOUN
cblr-1719	610	39	.	.	PUNCT
cblr-1719	611	1	a	a	DET
cblr-1719	611	2	mandatory	mandatory	ADJ
cblr-1719	611	3	structure	structure	NOUN
cblr-1719	611	4	of	of	ADP
cblr-1719	611	5	corporate	corporate	ADJ
cblr-1719	611	6	law	law	NOUN
cblr-1719	611	7	,	,	PUNCT
cblr-1719	611	8	which	which	PRON
cblr-1719	611	9	bars	bar	VERB
cblr-1719	611	10	a	a	DET
cblr-1719	611	11	wide	wide	ADJ
cblr-1719	611	12	variety	variety	NOUN
cblr-1719	611	13	of	of	ADP
cblr-1719	611	14	suspected	suspect	VERB
cblr-1719	611	15	corporate	corporate	ADJ
cblr-1719	611	16	behavior	behavior	NOUN
cblr-1719	611	17	,	,	PUNCT
cblr-1719	611	18	would	would	AUX
cblr-1719	611	19	be	be	AUX
cblr-1719	611	20	especially	especially	ADV
cblr-1719	611	21	justified	justify	VERB
cblr-1719	611	22	in	in	ADP
cblr-1719	611	23	jurisdictions	jurisdiction	NOUN
cblr-1719	611	24	where	where	SCONJ
cblr-1719	611	25	enforcement	enforcement	NOUN
cblr-1719	611	26	is	be	AUX
cblr-1719	611	27	weak	weak	ADJ
cblr-1719	611	28	and	and	CCONJ
cblr-1719	611	29	investor	investor	NOUN
cblr-1719	611	30	protection	protection	NOUN
cblr-1719	611	31	is	be	AUX
cblr-1719	611	32	low.204	low.204	NOUN
cblr-1719	611	33	in	in	ADP
cblr-1719	611	34	such	such	ADJ
cblr-1719	611	35	jurisdictions	jurisdiction	NOUN
cblr-1719	611	36	,	,	PUNCT
cblr-1719	611	37	the	the	DET
cblr-1719	611	38	level	level	NOUN
cblr-1719	611	39	of	of	ADP
cblr-1719	611	40	private	private	ADJ
cblr-1719	611	41	benefits	benefit	NOUN
cblr-1719	611	42	extracted	extract	VERB
cblr-1719	611	43	by	by	ADP
cblr-1719	611	44	controllers	controller	NOUN
cblr-1719	611	45	is	be	AUX
cblr-1719	611	46	high	high	ADJ
cblr-1719	611	47	.	.	PUNCT
cblr-1719	612	1	therefore	therefore	ADV
cblr-1719	612	2	,	,	PUNCT
cblr-1719	612	3	an	an	DET
cblr-1719	612	4	outright	outright	ADJ
cblr-1719	612	5	ban	ban	NOUN
cblr-1719	612	6	on	on	ADP
cblr-1719	612	7	certain	certain	ADJ
cblr-1719	612	8	control	control	NOUN
cblr-1719	612	9	-	-	PUNCT
cblr-1719	612	10	enhancing	enhance	VERB
cblr-1719	612	11	mechanisms	mechanism	NOUN
cblr-1719	612	12	could	could	AUX
cblr-1719	612	13	be	be	AUX
cblr-1719	612	14	an	an	DET
cblr-1719	612	15	effective	effective	ADJ
cblr-1719	612	16	way	way	NOUN
cblr-1719	612	17	to	to	PART
cblr-1719	612	18	restrict	restrict	VERB
cblr-1719	612	19	expropriations	expropriation	NOUN
cblr-1719	612	20	from	from	ADP
cblr-1719	612	21	controllers	controller	NOUN
cblr-1719	612	22	.	.	PUNCT
cblr-1719	613	1	for	for	ADP
cblr-1719	613	2	example	example	NOUN
cblr-1719	613	3	,	,	PUNCT
cblr-1719	613	4	in	in	ADP
cblr-1719	613	5	south	south	PROPN
cblr-1719	613	6	korea	korea	PROPN
cblr-1719	613	7	,	,	PUNCT
cblr-1719	613	8	the	the	DET
cblr-1719	613	9	economy	economy	NOUN
cblr-1719	613	10	is	be	AUX
cblr-1719	613	11	dominated	dominate	VERB
cblr-1719	613	12	by	by	ADP
cblr-1719	613	13	large	large	ADJ
cblr-1719	613	14	chaebols	chaebol	NOUN
cblr-1719	613	15	,	,	PUNCT
cblr-1719	613	16	which	which	PRON
cblr-1719	613	17	are	be	AUX
cblr-1719	613	18	family	family	NOUN
cblr-1719	613	19	-	-	PUNCT
cblr-1719	613	20	controlled	control	VERB
cblr-1719	613	21	conglomerates.205	conglomerates.205	NOUN
cblr-1719	613	22	pyramids	pyramid	NOUN
cblr-1719	613	23	and	and	CCONJ
cblr-1719	613	24	cross	cross	NOUN
cblr-1719	613	25	-	-	ADJ
cblr-1719	613	26	shareholding	shareholding	NOUN
cblr-1719	613	27	are	be	AUX
cblr-1719	613	28	frequently	frequently	ADV
cblr-1719	613	29	used	use	VERB
cblr-1719	613	30	to	to	PART
cblr-1719	613	31	enhance	enhance	VERB
cblr-1719	613	32	the	the	DET
cblr-1719	613	33	control	control	NOUN
cblr-1719	613	34	of	of	ADP
cblr-1719	613	35	chaebol	chaebol	NOUN
cblr-1719	613	36	families.206	families.206	PROPN
cblr-1719	613	37	to	to	PART
cblr-1719	613	38	improve	improve	VERB
cblr-1719	613	39	the	the	DET
cblr-1719	613	40	corporate	corporate	ADJ
cblr-1719	613	41	governance	governance	NOUN
cblr-1719	613	42	of	of	ADP
cblr-1719	613	43	chaebols	chaebols	PROPN
cblr-1719	613	44	,	,	PUNCT
cblr-1719	613	45	the	the	DET
cblr-1719	613	46	government	government	NOUN
cblr-1719	613	47	of	of	ADP
cblr-1719	613	48	south	south	PROPN
cblr-1719	613	49	korea	korea	PROPN
cblr-1719	613	50	passed	pass	VERB
cblr-1719	613	51	a	a	DET
cblr-1719	613	52	rule	rule	NOUN
cblr-1719	613	53	that	that	PRON
cblr-1719	613	54	bans	ban	VERB
cblr-1719	613	55	any	any	DET
cblr-1719	613	56	new	new	ADJ
cblr-1719	613	57	cross	cross	ADJ
cblr-1719	613	58	-	-	ADJ
cblr-1719	613	59	shareholding	shareholding	ADJ
cblr-1719	613	60	investment	investment	NOUN
cblr-1719	613	61	among	among	ADP
cblr-1719	613	62	the	the	DET
cblr-1719	613	63	affiliates	affiliate	NOUN
cblr-1719	613	64	of	of	ADP
cblr-1719	613	65	conglomerates	conglomerate	NOUN
cblr-1719	613	66	.	.	PUNCT
cblr-1719	614	1	under	under	ADP
cblr-1719	614	2	south	south	PROPN
cblr-1719	614	3	korea	korea	PROPN
cblr-1719	614	4	’s	’s	PART
cblr-1719	614	5	monopoly	monopoly	NOUN
cblr-1719	614	6	regulation	regulation	NOUN
cblr-1719	614	7	and	and	CCONJ
cblr-1719	614	8	fair	fair	ADJ
cblr-1719	614	9	trade	trade	NOUN
cblr-1719	614	10	act	act	NOUN
cblr-1719	614	11	,	,	PUNCT
cblr-1719	614	12	affiliates	affiliate	NOUN
cblr-1719	614	13	of	of	ADP
cblr-1719	614	14	large	large	ADJ
cblr-1719	614	15	conglomerates	conglomerate	NOUN
cblr-1719	614	16	with	with	ADP
cblr-1719	614	17	assets	asset	NOUN
cblr-1719	614	18	worth	worth	ADJ
cblr-1719	614	19	five	five	NUM
cblr-1719	614	20	trillion	trillion	NUM
cblr-1719	614	21	won	won	NOUN
cblr-1719	614	22	(	(	PUNCT
cblr-1719	614	23	equal	equal	ADJ
cblr-1719	614	24	to	to	ADP
cblr-1719	614	25	around	around	ADP
cblr-1719	614	26	$	$	SYM
cblr-1719	614	27	4.8	4.8	NUM
cblr-1719	614	28	billion	billion	NUM
cblr-1719	614	29	)	)	PUNCT
cblr-1719	614	30	or	or	CCONJ
cblr-1719	614	31	more	more	ADJ
cblr-1719	614	32	are	be	AUX
cblr-1719	614	33	banned	ban	VERB
cblr-1719	614	34	from	from	ADP
cblr-1719	614	35	making	make	VERB
cblr-1719	614	36	new	new	ADJ
cblr-1719	614	37	investments	investment	NOUN
cblr-1719	614	38	in	in	ADP
cblr-1719	614	39	one	one	NUM
cblr-1719	614	40	203	203	NUM
cblr-1719	614	41	see	see	NOUN
cblr-1719	614	42	bebchuk	bebchuk	NOUN
cblr-1719	614	43	,	,	PUNCT
cblr-1719	614	44	supra	supra	PROPN
cblr-1719	614	45	note	note	PROPN
cblr-1719	614	46	108	108	NUM
cblr-1719	614	47	,	,	PUNCT
cblr-1719	614	48	at	at	ADP
cblr-1719	614	49	1851–52	1851–52	NUM
cblr-1719	614	50	;	;	PUNCT
cblr-1719	614	51	gordon	gordon	PROPN
cblr-1719	614	52	,	,	PUNCT
cblr-1719	614	53	supra	supra	PROPN
cblr-1719	614	54	note	note	NOUN
cblr-1719	614	55	141	141	NUM
cblr-1719	614	56	.	.	PUNCT
cblr-1719	614	57	204	204	NUM
cblr-1719	614	58	bernard	bernard	PROPN
cblr-1719	614	59	black	black	PROPN
cblr-1719	614	60	&	&	CCONJ
cblr-1719	614	61	reinier	reinier	PROPN
cblr-1719	614	62	kraakman	kraakman	PROPN
cblr-1719	614	63	,	,	PUNCT
cblr-1719	614	64	a	a	DET
cblr-1719	614	65	self	self	NOUN
cblr-1719	614	66	-	-	PUNCT
cblr-1719	614	67	enforcing	enforce	VERB
cblr-1719	614	68	model	model	NOUN
cblr-1719	614	69	of	of	ADP
cblr-1719	614	70	corporate	corporate	ADJ
cblr-1719	614	71	law	law	NOUN
cblr-1719	614	72	,	,	PUNCT
cblr-1719	614	73	109	109	NUM
cblr-1719	614	74	harv	harv	NOUN
cblr-1719	614	75	.	.	PUNCT
cblr-1719	615	1	l.	l.	PROPN
cblr-1719	615	2	rev	rev	PROPN
cblr-1719	615	3	.	.	PROPN
cblr-1719	615	4	1911	1911	NUM
cblr-1719	615	5	,	,	PUNCT
cblr-1719	615	6	1929	1929	NUM
cblr-1719	615	7	(	(	PUNCT
cblr-1719	615	8	1996	1996	NUM
cblr-1719	615	9	)	)	PUNCT
cblr-1719	615	10	.	.	PUNCT
cblr-1719	616	1	205	205	NUM
cblr-1719	616	2	terry	terry	PROPN
cblr-1719	616	3	l.	l.	PROPN
cblr-1719	616	4	campbell	campbell	PROPN
cblr-1719	616	5	ii	ii	PROPN
cblr-1719	616	6	&	&	CCONJ
cblr-1719	616	7	phyllis	phyllis	PROPN
cblr-1719	616	8	y.	y.	PROPN
cblr-1719	616	9	keys	key	NOUN
cblr-1719	616	10	,	,	PUNCT
cblr-1719	616	11	corporate	corporate	ADJ
cblr-1719	616	12	governance	governance	NOUN
cblr-1719	616	13	in	in	ADP
cblr-1719	616	14	south	south	PROPN
cblr-1719	616	15	korea	korea	PROPN
cblr-1719	616	16	:	:	PUNCT
cblr-1719	616	17	the	the	DET
cblr-1719	616	18	chaebol	chaebol	NOUN
cblr-1719	616	19	experience	experience	NOUN
cblr-1719	616	20	,	,	PUNCT
cblr-1719	616	21	8	8	PROPN
cblr-1719	616	22	j.	j.	PROPN
cblr-1719	616	23	corp	corp	PROPN
cblr-1719	616	24	.	.	PROPN
cblr-1719	616	25	fin	fin	PROPN
cblr-1719	616	26	.	.	PUNCT
cblr-1719	617	1	373	373	NUM
cblr-1719	617	2	,	,	PUNCT
cblr-1719	617	3	374	374	NUM
cblr-1719	617	4	(	(	PUNCT
cblr-1719	617	5	2002	2002	NUM
cblr-1719	617	6	)	)	PUNCT
cblr-1719	617	7	.	.	PUNCT
cblr-1719	618	1	206	206	NUM
cblr-1719	618	2	claessens	claessen	NOUN
cblr-1719	618	3	et	et	PROPN
cblr-1719	618	4	al	al	PROPN
cblr-1719	618	5	.	.	PROPN
cblr-1719	618	6	,	,	PUNCT
cblr-1719	618	7	supra	supra	PROPN
cblr-1719	618	8	note	note	PROPN
cblr-1719	618	9	7	7	NUM
cblr-1719	618	10	,	,	PUNCT
cblr-1719	618	11	at	at	ADP
cblr-1719	618	12	92	92	NUM
cblr-1719	618	13	.	.	PUNCT
cblr-1719	619	1	lin	lin	PROPN
cblr-1719	619	2	–	–	PUNCT
cblr-1719	619	3	final	final	ADJ
cblr-1719	619	4	502	502	NUM
cblr-1719	619	5	columbia	columbia	PROPN
cblr-1719	619	6	business	business	NOUN
cblr-1719	619	7	law	law	PROPN
cblr-1719	619	8	review	review	NOUN
cblr-1719	619	9	[	[	X
cblr-1719	619	10	vol	vol	NOUN
cblr-1719	619	11	.	.	NOUN
cblr-1719	619	12	2017	2017	NUM
cblr-1719	619	13	another.207	another.207	NOUN
cblr-1719	619	14	in	in	ADP
cblr-1719	619	15	2001	2001	NUM
cblr-1719	619	16	and	and	CCONJ
cblr-1719	619	17	2005	2005	NUM
cblr-1719	619	18	,	,	PUNCT
cblr-1719	619	19	taiwan	taiwan	PROPN
cblr-1719	619	20	adopted	adopt	VERB
cblr-1719	619	21	a	a	DET
cblr-1719	619	22	similar	similar	ADJ
cblr-1719	619	23	prohibition	prohibition	NOUN
cblr-1719	619	24	on	on	ADP
cblr-1719	619	25	cross	cross	NOUN
cblr-1719	619	26	-	-	NOUN
cblr-1719	619	27	shareholding	shareholding	NOUN
cblr-1719	619	28	between	between	ADP
cblr-1719	619	29	parent	parent	NOUN
cblr-1719	619	30	companies	company	NOUN
cblr-1719	619	31	and	and	CCONJ
cblr-1719	619	32	subsidiaries	subsidiary	NOUN
cblr-1719	619	33	and	and	CCONJ
cblr-1719	619	34	also	also	ADV
cblr-1719	619	35	restricted	restrict	VERB
cblr-1719	619	36	the	the	DET
cblr-1719	619	37	voting	voting	NOUN
cblr-1719	619	38	power	power	NOUN
cblr-1719	619	39	of	of	ADP
cblr-1719	619	40	subsidiaries.208	subsidiaries.208	VERB
cblr-1719	619	41	dual	dual	ADJ
cblr-1719	619	42	-	-	PUNCT
cblr-1719	619	43	class	class	NOUN
cblr-1719	619	44	shares	share	NOUN
cblr-1719	619	45	are	be	AUX
cblr-1719	619	46	banned	ban	VERB
cblr-1719	619	47	in	in	ADP
cblr-1719	619	48	almost	almost	ADV
cblr-1719	619	49	half	half	NOUN
cblr-1719	619	50	of	of	ADP
cblr-1719	619	51	the	the	DET
cblr-1719	619	52	european	european	ADJ
cblr-1719	619	53	countries	country	NOUN
cblr-1719	619	54	.	.	PUNCT
cblr-1719	620	1	the	the	DET
cblr-1719	620	2	2007	2007	NUM
cblr-1719	620	3	eu	eu	PROPN
cblr-1719	620	4	proportionality	proportionality	NOUN
cblr-1719	620	5	report	report	NOUN
cblr-1719	620	6	showed	show	VERB
cblr-1719	620	7	that	that	SCONJ
cblr-1719	620	8	47	47	NUM
cblr-1719	620	9	%	%	NOUN
cblr-1719	620	10	of	of	ADP
cblr-1719	620	11	the	the	DET
cblr-1719	620	12	16	16	NUM
cblr-1719	620	13	surveyed	survey	VERB
cblr-1719	620	14	e.u	e.u	PROPN
cblr-1719	620	15	.	.	PROPN
cblr-1719	620	16	countries	country	NOUN
cblr-1719	620	17	prohibit	prohibit	VERB
cblr-1719	620	18	multiple	multiple	ADJ
cblr-1719	620	19	voting	vote	VERB
cblr-1719	620	20	right	right	ADJ
cblr-1719	620	21	shares	share	NOUN
cblr-1719	620	22	while	while	SCONJ
cblr-1719	620	23	all	all	PRON
cblr-1719	620	24	of	of	ADP
cblr-1719	620	25	them	they	PRON
cblr-1719	620	26	allow	allow	VERB
cblr-1719	620	27	pyramidal	pyramidal	ADJ
cblr-1719	620	28	ownership	ownership	NOUN
cblr-1719	620	29	and	and	CCONJ
cblr-1719	620	30	cross	cross	NOUN
cblr-1719	620	31	-	-	ADJ
cblr-1719	620	32	shareholding.209	shareholding.209	ADJ
cblr-1719	620	33	similar	similar	ADJ
cblr-1719	620	34	to	to	ADP
cblr-1719	620	35	european	european	ADJ
cblr-1719	620	36	countries	country	NOUN
cblr-1719	620	37	,	,	PUNCT
cblr-1719	620	38	dual	dual	ADJ
cblr-1719	620	39	-	-	PUNCT
cblr-1719	620	40	class	class	NOUN
cblr-1719	620	41	shares	share	NOUN
cblr-1719	620	42	are	be	AUX
cblr-1719	620	43	also	also	ADV
cblr-1719	620	44	banned	ban	VERB
cblr-1719	620	45	in	in	ADP
cblr-1719	620	46	most	most	ADJ
cblr-1719	620	47	east	east	ADJ
cblr-1719	620	48	asian	asian	ADJ
cblr-1719	620	49	jurisdictions	jurisdiction	NOUN
cblr-1719	620	50	.	.	PUNCT
cblr-1719	621	1	210	210	NUM
cblr-1719	621	2	most	most	ADV
cblr-1719	621	3	controlling	control	VERB
cblr-1719	621	4	shareholders	shareholder	NOUN
cblr-1719	621	5	of	of	ADP
cblr-1719	621	6	east	east	ADJ
cblr-1719	621	7	asian	asian	ADJ
cblr-1719	621	8	public	public	ADJ
cblr-1719	621	9	companies	company	NOUN
cblr-1719	621	10	enhance	enhance	VERB
cblr-1719	621	11	their	their	PRON
cblr-1719	621	12	control	control	NOUN
cblr-1719	621	13	through	through	ADP
cblr-1719	621	14	pyramidal	pyramidal	ADJ
cblr-1719	621	15	ownership	ownership	NOUN
cblr-1719	621	16	and	and	CCONJ
cblr-1719	621	17	crossshareholding.211	crossshareholding.211	NOUN
cblr-1719	621	18	to	to	PART
cblr-1719	621	19	limit	limit	VERB
cblr-1719	621	20	the	the	DET
cblr-1719	621	21	anti	anti	ADJ
cblr-1719	621	22	-	-	ADJ
cblr-1719	621	23	takeover	takeover	ADJ
cblr-1719	621	24	effect	effect	NOUN
cblr-1719	621	25	of	of	ADP
cblr-1719	621	26	leveraged	leveraged	ADJ
cblr-1719	621	27	control	control	NOUN
cblr-1719	621	28	provisions	provision	NOUN
cblr-1719	621	29	in	in	ADP
cblr-1719	621	30	the	the	DET
cblr-1719	621	31	articles	article	NOUN
cblr-1719	621	32	of	of	ADP
cblr-1719	621	33	association	association	NOUN
cblr-1719	621	34	of	of	ADP
cblr-1719	621	35	european	european	ADJ
cblr-1719	621	36	companies	company	NOUN
cblr-1719	621	37	,	,	PUNCT
cblr-1719	621	38	the	the	DET
cblr-1719	621	39	high	high	ADJ
cblr-1719	621	40	level	level	NOUN
cblr-1719	621	41	group	group	NOUN
cblr-1719	621	42	of	of	ADP
cblr-1719	621	43	company	company	NOUN
cblr-1719	621	44	law	law	NOUN
cblr-1719	621	45	experts	expert	NOUN
cblr-1719	621	46	proposed	propose	VERB
cblr-1719	621	47	a	a	DET
cblr-1719	621	48	“	"	PUNCT
cblr-1719	621	49	breakthrough	breakthrough	NOUN
cblr-1719	621	50	rule	rule	NOUN
cblr-1719	621	51	”	"	PUNCT
cblr-1719	621	52	which	which	PRON
cblr-1719	621	53	disables	disable	VERB
cblr-1719	621	54	such	such	ADJ
cblr-1719	621	55	leveraged	leveraged	ADJ
cblr-1719	621	56	control	control	NOUN
cblr-1719	621	57	mechanisms	mechanism	NOUN
cblr-1719	621	58	when	when	SCONJ
cblr-1719	621	59	a	a	DET
cblr-1719	621	60	takeover	takeover	NOUN
cblr-1719	621	61	bidder	bidder	NOUN
cblr-1719	621	62	acquires	acquire	VERB
cblr-1719	621	63	75	75	NUM
cblr-1719	621	64	%	%	NOUN
cblr-1719	621	65	or	or	CCONJ
cblr-1719	621	66	more	more	ADJ
cblr-1719	621	67	of	of	ADP
cblr-1719	621	68	the	the	DET
cblr-1719	621	69	risk	risk	NOUN
cblr-1719	621	70	-	-	PUNCT
cblr-1719	621	71	bearing	bear	VERB
cblr-1719	621	72	capital.212	capital.212	PROPN
cblr-1719	621	73	under	under	ADP
cblr-1719	621	74	the	the	DET
cblr-1719	621	75	proposed	propose	VERB
cblr-1719	621	76	rule	rule	NOUN
cblr-1719	621	77	,	,	PUNCT
cblr-1719	621	78	all	all	DET
cblr-1719	621	79	control	control	NOUN
cblr-1719	621	80	-	-	PUNCT
cblr-1719	621	81	enhancing	enhance	VERB
cblr-1719	621	82	mechanisms	mechanism	NOUN
cblr-1719	621	83	stipulated	stipulate	VERB
cblr-1719	621	84	in	in	ADP
cblr-1719	621	85	articles	article	NOUN
cblr-1719	621	86	of	of	ADP
cblr-1719	621	87	association	association	NOUN
cblr-1719	621	88	would	would	AUX
cblr-1719	621	89	be	be	AUX
cblr-1719	621	90	dismantled	dismantle	VERB
cblr-1719	621	91	,	,	PUNCT
cblr-1719	621	92	including	include	VERB
cblr-1719	621	93	voting	vote	VERB
cblr-1719	621	94	caps	cap	NOUN
cblr-1719	621	95	,	,	PUNCT
cblr-1719	621	96	multiple	multiple	ADJ
cblr-1719	621	97	voting	voting	NOUN
cblr-1719	621	98	rights	right	NOUN
cblr-1719	621	99	,	,	PUNCT
cblr-1719	621	100	non	non	ADJ
cblr-1719	621	101	-	-	ADJ
cblr-1719	621	102	voting	voting	ADJ
cblr-1719	621	103	shares	share	NOUN
cblr-1719	621	104	,	,	PUNCT
cblr-1719	621	105	voting	voting	NOUN
cblr-1719	621	106	rights	right	NOUN
cblr-1719	621	107	attributed	attribute	VERB
cblr-1719	621	108	to	to	ADP
cblr-1719	621	109	non	non	ADJ
cblr-1719	621	110	-	-	ADJ
cblr-1719	621	111	risk	risk	NOUN
cblr-1719	621	112	-	-	PUNCT
cblr-1719	621	113	bearing	bear	VERB
cblr-1719	621	114	capital	capital	NOUN
cblr-1719	621	115	,	,	PUNCT
cblr-1719	621	116	and	and	CCONJ
cblr-1719	621	117	special	special	ADJ
cblr-1719	621	118	rights	right	NOUN
cblr-1719	621	119	to	to	PART
cblr-1719	621	120	appoint	appoint	VERB
cblr-1719	621	121	directors	director	NOUN
cblr-1719	621	122	or	or	CCONJ
cblr-1719	621	123	amend	amend	VERB
cblr-1719	621	124	articles	article	NOUN
cblr-1719	621	125	of	of	ADP
cblr-1719	621	126	association.213	association.213	PROPN
cblr-1719	621	127	as	as	ADP
cblr-1719	621	128	a	a	DET
cblr-1719	621	129	result	result	NOUN
cblr-1719	621	130	of	of	ADP
cblr-1719	621	131	the	the	DET
cblr-1719	621	132	criticism	criticism	NOUN
cblr-1719	621	133	levied	levy	VERB
cblr-1719	621	134	on	on	ADP
cblr-1719	621	135	the	the	DET
cblr-1719	621	136	effect	effect	NOUN
cblr-1719	621	137	of	of	ADP
cblr-1719	621	138	such	such	DET
cblr-1719	621	139	a	a	DET
cblr-1719	621	140	rule	rule	NOUN
cblr-1719	621	141	and	and	CCONJ
cblr-1719	621	142	pressure	pressure	NOUN
cblr-1719	621	143	from	from	ADP
cblr-1719	621	144	interested	interested	ADJ
cblr-1719	621	145	groups	group	NOUN
cblr-1719	621	146	,	,	PUNCT
cblr-1719	621	147	the	the	DET
cblr-1719	621	148	rule	rule	NOUN
cblr-1719	621	149	was	be	AUX
cblr-1719	621	150	adopted	adopt	VERB
cblr-1719	621	151	in	in	ADP
cblr-1719	621	152	the	the	DET
cblr-1719	621	153	european	european	ADJ
cblr-1719	621	154	takeover	takeover	NOUN
cblr-1719	621	155	directive	directive	NOUN
cblr-1719	621	156	as	as	ADP
cblr-1719	621	157	207	207	NUM
cblr-1719	621	158	oh	oh	INTJ
cblr-1719	621	159	kyu	kyu	NOUN
cblr-1719	621	160	-	-	PUNCT
cblr-1719	621	161	wook	wook	NOUN
cblr-1719	621	162	,	,	PUNCT
cblr-1719	621	163	new	new	ADJ
cblr-1719	621	164	cross	cross	ADJ
cblr-1719	621	165	-	-	ADJ
cblr-1719	621	166	shareholding	shareholding	ADJ
cblr-1719	621	167	ban	ban	NOUN
cblr-1719	621	168	takes	take	VERB
cblr-1719	621	169	effect	effect	NOUN
cblr-1719	621	170	:	:	PUNCT
cblr-1719	621	171	conglomerates	conglomerate	NOUN
cblr-1719	621	172	pressured	pressure	VERB
cblr-1719	621	173	to	to	PART
cblr-1719	621	174	improve	improve	VERB
cblr-1719	621	175	governance	governance	NOUN
cblr-1719	621	176	,	,	PUNCT
cblr-1719	621	177	korea	korea	PROPN
cblr-1719	621	178	herald	herald	PROPN
cblr-1719	621	179	(	(	PUNCT
cblr-1719	621	180	july	july	PROPN
cblr-1719	621	181	25	25	NUM
cblr-1719	621	182	,	,	PUNCT
cblr-1719	621	183	2014	2014	NUM
cblr-1719	621	184	)	)	PUNCT
cblr-1719	621	185	,	,	PUNCT
cblr-1719	621	186	http://www.koreaherald.com/view.php?ud=20140725000716	http://www.koreaherald.com/view.php?ud=20140725000716	VERB
cblr-1719	621	187	[	[	X
cblr-1719	621	188	https://perma.cc/8y6j-l2xt	https://perma.cc/8y6j-l2xt	X
cblr-1719	621	189	]	]	PUNCT
cblr-1719	621	190	.	.	PUNCT
cblr-1719	622	1	208	208	NUM
cblr-1719	622	2	company	company	NOUN
cblr-1719	622	3	act	act	NOUN
cblr-1719	622	4	art	art	NOUN
cblr-1719	622	5	.	.	PUNCT
cblr-1719	623	1	167	167	NUM
cblr-1719	623	2	(	(	PUNCT
cblr-1719	623	3	3	3	NUM
cblr-1719	623	4	)	)	PUNCT
cblr-1719	623	5	(	(	PUNCT
cblr-1719	623	6	4	4	NUM
cblr-1719	623	7	)	)	PUNCT
cblr-1719	623	8	&	&	CCONJ
cblr-1719	623	9	179	179	NUM
cblr-1719	623	10	ii	ii	PROPN
cblr-1719	623	11	(	(	PUNCT
cblr-1719	623	12	2	2	NUM
cblr-1719	623	13	)	)	PUNCT
cblr-1719	623	14	(	(	PUNCT
cblr-1719	623	15	3	3	X
cblr-1719	623	16	)	)	PUNCT
cblr-1719	623	17	(	(	PUNCT
cblr-1719	623	18	2016	2016	NUM
cblr-1719	623	19	)	)	PUNCT
cblr-1719	623	20	(	(	PUNCT
cblr-1719	623	21	taiwan	taiwan	PROPN
cblr-1719	623	22	)	)	PUNCT
cblr-1719	623	23	.	.	PUNCT
cblr-1719	624	1	209	209	NUM
cblr-1719	624	2	iss	iss	VERB
cblr-1719	624	3	et	et	PROPN
cblr-1719	624	4	al	al	PROPN
cblr-1719	624	5	.	.	PROPN
cblr-1719	624	6	,	,	PUNCT
cblr-1719	624	7	supra	supra	PROPN
cblr-1719	624	8	note	note	PROPN
cblr-1719	624	9	7	7	NUM
cblr-1719	624	10	,	,	PUNCT
cblr-1719	624	11	at	at	ADP
cblr-1719	624	12	18–22	18–22	NUM
cblr-1719	624	13	.	.	PUNCT
cblr-1719	624	14	210	210	NUM
cblr-1719	624	15	see	see	VERB
cblr-1719	624	16	claessens	claessen	NOUN
cblr-1719	624	17	et	et	PROPN
cblr-1719	624	18	al	al	PROPN
cblr-1719	624	19	.	.	PROPN
cblr-1719	624	20	,	,	PUNCT
cblr-1719	624	21	supra	supra	PROPN
cblr-1719	624	22	note	note	PROPN
cblr-1719	624	23	7	7	NUM
cblr-1719	624	24	,	,	PUNCT
cblr-1719	624	25	at	at	ADP
cblr-1719	624	26	91–92	91–92	NUM
cblr-1719	624	27	.	.	PUNCT
cblr-1719	625	1	211	211	NUM
cblr-1719	626	1	i	i	PRON
cblr-1719	626	2	d.	d.	PROPN
cblr-1719	626	3	212	212	NUM
cblr-1719	626	4	see	see	VERB
cblr-1719	626	5	high	high	ADJ
cblr-1719	626	6	level	level	NOUN
cblr-1719	626	7	group	group	NOUN
cblr-1719	626	8	of	of	ADP
cblr-1719	626	9	company	company	NOUN
cblr-1719	626	10	law	law	NOUN
cblr-1719	626	11	experts	expert	NOUN
cblr-1719	626	12	,	,	PUNCT
cblr-1719	626	13	supra	supra	PROPN
cblr-1719	626	14	note	note	NOUN
cblr-1719	626	15	24	24	NUM
cblr-1719	626	16	,	,	PUNCT
cblr-1719	626	17	at	at	ADP
cblr-1719	626	18	32	32	NUM
cblr-1719	626	19	;	;	PUNCT
cblr-1719	626	20	guido	guido	NOUN
cblr-1719	626	21	ferrarini	ferrarini	PROPN
cblr-1719	626	22	,	,	PUNCT
cblr-1719	626	23	one	one	NUM
cblr-1719	626	24	share	share	NOUN
cblr-1719	626	25	–	–	PUNCT
cblr-1719	626	26	one	one	NUM
cblr-1719	626	27	vote	vote	NOUN
cblr-1719	626	28	:	:	PUNCT
cblr-1719	626	29	a	a	DET
cblr-1719	626	30	european	european	ADJ
cblr-1719	626	31	rule	rule	NOUN
cblr-1719	626	32	?	?	PUNCT
cblr-1719	626	33	,	,	PUNCT
cblr-1719	626	34	3	3	NUM
cblr-1719	626	35	european	european	PROPN
cblr-1719	626	36	company	company	PROPN
cblr-1719	626	37	&	&	CCONJ
cblr-1719	626	38	fin	fin	PROPN
cblr-1719	626	39	.	.	PUNCT
cblr-1719	627	1	l.	l.	PROPN
cblr-1719	627	2	rev	rev	PROPN
cblr-1719	627	3	.	.	PUNCT
cblr-1719	628	1	(	(	PUNCT
cblr-1719	628	2	ecfr	ecfr	NOUN
cblr-1719	628	3	)	)	PUNCT
cblr-1719	628	4	147	147	NUM
cblr-1719	628	5	,	,	PUNCT
cblr-1719	628	6	149–50	149–50	NUM
cblr-1719	628	7	(	(	PUNCT
cblr-1719	628	8	2006	2006	NUM
cblr-1719	628	9	)	)	PUNCT
cblr-1719	628	10	.	.	PUNCT
cblr-1719	629	1	213	213	NUM
cblr-1719	629	2	ferrarini	ferrarini	ADJ
cblr-1719	629	3	,	,	PUNCT
cblr-1719	629	4	supra	supra	PROPN
cblr-1719	629	5	note	note	NOUN
cblr-1719	629	6	212	212	NUM
cblr-1719	629	7	,	,	PUNCT
cblr-1719	629	8	at	at	ADP
cblr-1719	629	9	149–50	149–50	NUM
cblr-1719	629	10	.	.	PUNCT
cblr-1719	630	1	lin	lin	PROPN
cblr-1719	630	2	–	–	PUNCT
cblr-1719	630	3	final	final	ADJ
cblr-1719	630	4	no	no	NOUN
cblr-1719	630	5	.	.	PUNCT
cblr-1719	630	6	2:453	2:453	NUM
cblr-1719	630	7	]	]	X
cblr-1719	630	8	controlling	control	VERB
cblr-1719	630	9	-	-	PUNCT
cblr-1719	630	10	minority	minority	NOUN
cblr-1719	630	11	shareholders	shareholder	NOUN
cblr-1719	630	12	503	503	NUM
cblr-1719	630	13	optional.214	optional.214	ADV
cblr-1719	630	14	ultimately	ultimately	ADV
cblr-1719	630	15	,	,	PUNCT
cblr-1719	630	16	only	only	ADV
cblr-1719	630	17	three	three	NUM
cblr-1719	630	18	member	member	NOUN
cblr-1719	630	19	states	state	NOUN
cblr-1719	630	20	adopted	adopt	VERB
cblr-1719	630	21	the	the	DET
cblr-1719	630	22	breakthrough	breakthrough	NOUN
cblr-1719	630	23	rule.215	rule.215	VERB
cblr-1719	630	24	a	a	DET
cblr-1719	630	25	european	european	PROPN
cblr-1719	630	26	commission	commission	PROPN
cblr-1719	630	27	review	review	NOUN
cblr-1719	630	28	in	in	ADP
cblr-1719	630	29	2012	2012	NUM
cblr-1719	630	30	deemed	deem	VERB
cblr-1719	630	31	the	the	DET
cblr-1719	630	32	breakthrough	breakthrough	NOUN
cblr-1719	630	33	rule	rule	NOUN
cblr-1719	630	34	unsuccessful	unsuccessful	ADJ
cblr-1719	630	35	;	;	PUNCT
cblr-1719	630	36	however	however	ADV
cblr-1719	630	37	,	,	PUNCT
cblr-1719	630	38	it	it	PRON
cblr-1719	630	39	did	do	AUX
cblr-1719	630	40	not	not	PART
cblr-1719	630	41	seek	seek	VERB
cblr-1719	630	42	to	to	PART
cblr-1719	630	43	make	make	VERB
cblr-1719	630	44	the	the	DET
cblr-1719	630	45	rule	rule	NOUN
cblr-1719	630	46	mandatory	mandatory	ADJ
cblr-1719	630	47	because	because	SCONJ
cblr-1719	630	48	,	,	PUNCT
cblr-1719	630	49	in	in	ADP
cblr-1719	630	50	the	the	DET
cblr-1719	630	51	commission	commission	NOUN
cblr-1719	630	52	’s	’s	PART
cblr-1719	630	53	estimation	estimation	NOUN
cblr-1719	630	54	,	,	PUNCT
cblr-1719	630	55	the	the	DET
cblr-1719	630	56	current	current	ADJ
cblr-1719	630	57	mixed	mixed	ADJ
cblr-1719	630	58	regulatory	regulatory	ADJ
cblr-1719	630	59	approach	approach	NOUN
cblr-1719	630	60	seems	seem	VERB
cblr-1719	630	61	to	to	PART
cblr-1719	630	62	provide	provide	VERB
cblr-1719	630	63	sufficient	sufficient	ADJ
cblr-1719	630	64	means	mean	NOUN
cblr-1719	630	65	to	to	PART
cblr-1719	630	66	break	break	VERB
cblr-1719	630	67	through	through	ADP
cblr-1719	630	68	takeover	takeover	NOUN
cblr-1719	630	69	defenses	defense	NOUN
cblr-1719	630	70	even	even	ADV
cblr-1719	630	71	without	without	ADP
cblr-1719	630	72	adopting	adopt	VERB
cblr-1719	630	73	the	the	DET
cblr-1719	630	74	proposed	propose	VERB
cblr-1719	630	75	breakthrough	breakthrough	NOUN
cblr-1719	630	76	rule.216	rule.216	VERB
cblr-1719	630	77	mandatory	mandatory	ADJ
cblr-1719	630	78	rules	rule	NOUN
cblr-1719	630	79	have	have	AUX
cblr-1719	630	80	been	be	AUX
cblr-1719	630	81	adopted	adopt	VERB
cblr-1719	630	82	by	by	ADP
cblr-1719	630	83	regulators	regulator	NOUN
cblr-1719	630	84	in	in	ADP
cblr-1719	630	85	different	different	ADJ
cblr-1719	630	86	jurisdictions	jurisdiction	NOUN
cblr-1719	630	87	to	to	PART
cblr-1719	630	88	restrict	restrict	VERB
cblr-1719	630	89	certain	certain	ADJ
cblr-1719	630	90	types	type	NOUN
cblr-1719	630	91	of	of	ADP
cblr-1719	630	92	controlenhancing	controlenhance	VERB
cblr-1719	630	93	mechanisms	mechanism	NOUN
cblr-1719	630	94	.	.	PUNCT
cblr-1719	631	1	yet	yet	ADV
cblr-1719	631	2	,	,	PUNCT
cblr-1719	631	3	there	there	PRON
cblr-1719	631	4	does	do	AUX
cblr-1719	631	5	not	not	PART
cblr-1719	631	6	seem	seem	VERB
cblr-1719	631	7	to	to	PART
cblr-1719	631	8	be	be	AUX
cblr-1719	631	9	a	a	DET
cblr-1719	631	10	consistent	consistent	ADJ
cblr-1719	631	11	rationale	rationale	NOUN
cblr-1719	631	12	in	in	ADP
cblr-1719	631	13	the	the	DET
cblr-1719	631	14	choice	choice	NOUN
cblr-1719	631	15	of	of	ADP
cblr-1719	631	16	prohibitive	prohibitive	ADJ
cblr-1719	631	17	mechanisms	mechanism	NOUN
cblr-1719	631	18	.	.	PUNCT
cblr-1719	632	1	most	most	ADV
cblr-1719	632	2	european	european	ADJ
cblr-1719	632	3	and	and	CCONJ
cblr-1719	632	4	east	east	ADJ
cblr-1719	632	5	asian	asian	ADJ
cblr-1719	632	6	jurisdictions	jurisdiction	NOUN
cblr-1719	632	7	prohibit	prohibit	VERB
cblr-1719	632	8	multiple	multiple	ADJ
cblr-1719	632	9	voting	voting	NOUN
cblr-1719	632	10	rights	right	NOUN
cblr-1719	632	11	shares	share	NOUN
cblr-1719	632	12	through	through	ADP
cblr-1719	632	13	the	the	DET
cblr-1719	632	14	one	one	NUM
cblr-1719	632	15	-	-	PUNCT
cblr-1719	632	16	share	share	NOUN
cblr-1719	632	17	one	one	NUM
cblr-1719	632	18	-	-	PUNCT
cblr-1719	632	19	vote	vote	NOUN
cblr-1719	632	20	rule	rule	NOUN
cblr-1719	632	21	.	.	PUNCT
cblr-1719	633	1	however	however	ADV
cblr-1719	633	2	,	,	PUNCT
cblr-1719	633	3	these	these	DET
cblr-1719	633	4	jurisdictions	jurisdiction	NOUN
cblr-1719	633	5	also	also	ADV
cblr-1719	633	6	allow	allow	VERB
cblr-1719	633	7	pyramidal	pyramidal	ADJ
cblr-1719	633	8	ownership	ownership	NOUN
cblr-1719	633	9	and	and	CCONJ
cblr-1719	633	10	cross	cross	NOUN
cblr-1719	633	11	-	-	NOUN
cblr-1719	633	12	shareholding	shareholding	NOUN
cblr-1719	633	13	,	,	PUNCT
cblr-1719	633	14	which	which	PRON
cblr-1719	633	15	create	create	VERB
cblr-1719	633	16	deviations	deviation	NOUN
cblr-1719	633	17	between	between	ADP
cblr-1719	633	18	control	control	NOUN
cblr-1719	633	19	rights	right	NOUN
cblr-1719	633	20	and	and	CCONJ
cblr-1719	633	21	voting	voting	NOUN
cblr-1719	633	22	rights	right	NOUN
cblr-1719	633	23	similar	similar	ADJ
cblr-1719	633	24	to	to	ADP
cblr-1719	633	25	multiple	multiple	ADJ
cblr-1719	633	26	voting	voting	NOUN
cblr-1719	633	27	rights	right	NOUN
cblr-1719	633	28	shares	share	NOUN
cblr-1719	633	29	.	.	PUNCT
cblr-1719	634	1	it	it	PRON
cblr-1719	634	2	would	would	AUX
cblr-1719	634	3	be	be	AUX
cblr-1719	634	4	a	a	DET
cblr-1719	634	5	challenge	challenge	NOUN
cblr-1719	634	6	for	for	SCONJ
cblr-1719	634	7	regulators	regulator	NOUN
cblr-1719	634	8	to	to	PART
cblr-1719	634	9	prohibit	prohibit	VERB
cblr-1719	634	10	pyramidal	pyramidal	ADJ
cblr-1719	634	11	ownership	ownership	NOUN
cblr-1719	634	12	because	because	SCONJ
cblr-1719	634	13	business	business	NOUN
cblr-1719	634	14	groups	group	NOUN
cblr-1719	634	15	,	,	PUNCT
cblr-1719	634	16	which	which	PRON
cblr-1719	634	17	are	be	AUX
cblr-1719	634	18	structured	structure	VERB
cblr-1719	634	19	on	on	ADP
cblr-1719	634	20	pyramidal	pyramidal	ADJ
cblr-1719	634	21	ownership	ownership	NOUN
cblr-1719	634	22	,	,	PUNCT
cblr-1719	634	23	create	create	VERB
cblr-1719	634	24	synergies	synergy	NOUN
cblr-1719	634	25	in	in	ADP
cblr-1719	634	26	business	business	NOUN
cblr-1719	634	27	operation	operation	NOUN
cblr-1719	634	28	and	and	CCONJ
cblr-1719	634	29	therefore	therefore	ADV
cblr-1719	634	30	should	should	AUX
cblr-1719	634	31	generally	generally	ADV
cblr-1719	634	32	be	be	AUX
cblr-1719	634	33	allowed	allow	VERB
cblr-1719	634	34	.	.	PUNCT
cblr-1719	635	1	in	in	ADP
cblr-1719	635	2	addition	addition	NOUN
cblr-1719	635	3	,	,	PUNCT
cblr-1719	635	4	it	it	PRON
cblr-1719	635	5	may	may	AUX
cblr-1719	635	6	not	not	PART
cblr-1719	635	7	be	be	AUX
cblr-1719	635	8	easy	easy	ADJ
cblr-1719	635	9	for	for	SCONJ
cblr-1719	635	10	regulators	regulator	NOUN
cblr-1719	635	11	to	to	PART
cblr-1719	635	12	define	define	VERB
cblr-1719	635	13	the	the	DET
cblr-1719	635	14	scope	scope	NOUN
cblr-1719	635	15	of	of	ADP
cblr-1719	635	16	pyramids	pyramid	NOUN
cblr-1719	635	17	and	and	CCONJ
cblr-1719	635	18	to	to	PART
cblr-1719	635	19	properly	properly	ADV
cblr-1719	635	20	limit	limit	VERB
cblr-1719	635	21	their	their	PRON
cblr-1719	635	22	use.217	use.217	NOUN
cblr-1719	635	23	every	every	DET
cblr-1719	635	24	company	company	NOUN
cblr-1719	635	25	has	have	VERB
cblr-1719	635	26	its	its	PRON
cblr-1719	635	27	own	own	ADJ
cblr-1719	635	28	distinct	distinct	ADJ
cblr-1719	635	29	characteristics	characteristic	NOUN
cblr-1719	635	30	,	,	PUNCT
cblr-1719	635	31	and	and	CCONJ
cblr-1719	635	32	shareholders	shareholder	NOUN
cblr-1719	635	33	are	be	AUX
cblr-1719	635	34	the	the	DET
cblr-1719	635	35	best	good	ADJ
cblr-1719	635	36	party	party	NOUN
cblr-1719	635	37	to	to	PART
cblr-1719	635	38	decide	decide	VERB
cblr-1719	635	39	on	on	ADP
cblr-1719	635	40	internal	internal	ADJ
cblr-1719	635	41	corporate	corporate	ADJ
cblr-1719	635	42	affairs	affair	NOUN
cblr-1719	635	43	.	.	PUNCT
cblr-1719	636	1	the	the	DET
cblr-1719	636	2	rationale	rationale	NOUN
cblr-1719	636	3	of	of	ADP
cblr-1719	636	4	“	"	PUNCT
cblr-1719	636	5	one	one	NUM
cblr-1719	636	6	size	size	NOUN
cblr-1719	636	7	fits	fit	VERB
cblr-1719	636	8	all	all	PRON
cblr-1719	636	9	”	"	PUNCT
cblr-1719	636	10	does	do	AUX
cblr-1719	636	11	not	not	PART
cblr-1719	636	12	work	work	VERB
cblr-1719	636	13	in	in	ADP
cblr-1719	636	14	corporate	corporate	ADJ
cblr-1719	636	15	governance	governance	NOUN
cblr-1719	636	16	regulation	regulation	NOUN
cblr-1719	636	17	.	.	PUNCT
cblr-1719	637	1	control	control	NOUN
cblr-1719	637	2	-	-	PUNCT
cblr-1719	637	3	enhancing	enhance	VERB
cblr-1719	637	4	214	214	NUM
cblr-1719	637	5	council	council	NOUN
cblr-1719	637	6	directive	directive	NOUN
cblr-1719	637	7	04/25	04/25	NUM
cblr-1719	637	8	,	,	PUNCT
cblr-1719	637	9	2004	2004	NUM
cblr-1719	637	10	o.j	o.j	PROPN
cblr-1719	637	11	.	.	PUNCT
cblr-1719	638	1	(	(	PUNCT
cblr-1719	638	2	l	l	NOUN
cblr-1719	638	3	142	142	NUM
cblr-1719	638	4	)	)	PUNCT
cblr-1719	638	5	12	12	NUM
cblr-1719	638	6	(	(	PUNCT
cblr-1719	638	7	ec	ec	PROPN
cblr-1719	638	8	)	)	PUNCT
cblr-1719	638	9	(	(	PUNCT
cblr-1719	638	10	on	on	ADP
cblr-1719	638	11	takeover	takeover	NOUN
cblr-1719	638	12	bids	bid	NOUN
cblr-1719	638	13	)	)	PUNCT
cblr-1719	638	14	.	.	PUNCT
cblr-1719	639	1	several	several	ADJ
cblr-1719	639	2	nordic	nordic	ADJ
cblr-1719	639	3	countries	country	NOUN
cblr-1719	639	4	,	,	PUNCT
cblr-1719	639	5	including	include	VERB
cblr-1719	639	6	sweden	sweden	PROPN
cblr-1719	639	7	,	,	PUNCT
cblr-1719	639	8	finland	finland	PROPN
cblr-1719	639	9	and	and	CCONJ
cblr-1719	639	10	denmark	denmark	PROPN
cblr-1719	639	11	,	,	PUNCT
cblr-1719	639	12	opposed	oppose	VERB
cblr-1719	639	13	the	the	DET
cblr-1719	639	14	extension	extension	NOUN
cblr-1719	639	15	of	of	ADP
cblr-1719	639	16	“	"	PUNCT
cblr-1719	639	17	breakthrough	breakthrough	ADJ
cblr-1719	639	18	”	"	PUNCT
cblr-1719	639	19	rule	rule	NOUN
cblr-1719	639	20	.	.	PUNCT
cblr-1719	640	1	for	for	ADP
cblr-1719	640	2	a	a	DET
cblr-1719	640	3	detailed	detailed	ADJ
cblr-1719	640	4	description	description	NOUN
cblr-1719	640	5	on	on	ADP
cblr-1719	640	6	criticisms	criticism	NOUN
cblr-1719	640	7	and	and	CCONJ
cblr-1719	640	8	oppositions	opposition	NOUN
cblr-1719	640	9	from	from	ADP
cblr-1719	640	10	member	member	NOUN
cblr-1719	640	11	states	state	NOUN
cblr-1719	640	12	,	,	PUNCT
cblr-1719	640	13	see	see	VERB
cblr-1719	640	14	skog	skog	NOUN
cblr-1719	640	15	,	,	PUNCT
cblr-1719	640	16	supra	supra	PROPN
cblr-1719	640	17	note	note	NOUN
cblr-1719	640	18	123	123	NUM
cblr-1719	640	19	,	,	PUNCT
cblr-1719	640	20	at	at	ADP
cblr-1719	640	21	296–99	296–99	NUM
cblr-1719	640	22	.	.	PUNCT
cblr-1719	641	1	215	215	NUM
cblr-1719	641	2	the	the	DET
cblr-1719	641	3	three	three	NUM
cblr-1719	641	4	countries	country	NOUN
cblr-1719	641	5	are	be	AUX
cblr-1719	641	6	estonia	estonia	PROPN
cblr-1719	641	7	,	,	PUNCT
cblr-1719	641	8	latvia	latvia	PROPN
cblr-1719	641	9	,	,	PUNCT
cblr-1719	641	10	and	and	CCONJ
cblr-1719	641	11	lithuania	lithuania	PROPN
cblr-1719	641	12	.	.	PUNCT
cblr-1719	642	1	see	see	VERB
cblr-1719	642	2	report	report	NOUN
cblr-1719	642	3	from	from	ADP
cblr-1719	642	4	the	the	DET
cblr-1719	642	5	commission	commission	NOUN
cblr-1719	642	6	to	to	ADP
cblr-1719	642	7	the	the	DET
cblr-1719	642	8	european	european	PROPN
cblr-1719	642	9	parliament	parliament	NOUN
cblr-1719	642	10	,	,	PUNCT
cblr-1719	642	11	the	the	DET
cblr-1719	642	12	council	council	NOUN
cblr-1719	642	13	,	,	PUNCT
cblr-1719	642	14	the	the	DET
cblr-1719	642	15	european	european	ADJ
cblr-1719	642	16	economic	economic	ADJ
cblr-1719	642	17	and	and	CCONJ
cblr-1719	642	18	social	social	ADJ
cblr-1719	642	19	committee	committee	NOUN
cblr-1719	642	20	and	and	CCONJ
cblr-1719	642	21	the	the	DET
cblr-1719	642	22	committee	committee	NOUN
cblr-1719	642	23	of	of	ADP
cblr-1719	642	24	the	the	DET
cblr-1719	642	25	regions	region	NOUN
cblr-1719	642	26	:	:	PUNCT
cblr-1719	642	27	application	application	NOUN
cblr-1719	642	28	of	of	ADP
cblr-1719	642	29	directive	directive	NOUN
cblr-1719	642	30	2004/25	2004/25	NUM
cblr-1719	642	31	/	/	SYM
cblr-1719	642	32	ec	ec	PROPN
cblr-1719	642	33	on	on	ADP
cblr-1719	642	34	takeover	takeover	NOUN
cblr-1719	642	35	bids	bid	NOUN
cblr-1719	642	36	,	,	PUNCT
cblr-1719	642	37	at	at	ADP
cblr-1719	642	38	3–4	3–4	NUM
cblr-1719	642	39	,	,	PUNCT
cblr-1719	642	40	com	com	NOUN
cblr-1719	642	41	(	(	PUNCT
cblr-1719	642	42	2012	2012	NUM
cblr-1719	642	43	)	)	PUNCT
cblr-1719	642	44	346	346	NUM
cblr-1719	642	45	final	final	ADJ
cblr-1719	642	46	(	(	PUNCT
cblr-1719	642	47	june	june	PROPN
cblr-1719	642	48	28	28	NUM
cblr-1719	642	49	,	,	PUNCT
cblr-1719	642	50	2012	2012	NUM
cblr-1719	642	51	)	)	PUNCT
cblr-1719	642	52	.	.	PUNCT
cblr-1719	643	1	216	216	NUM
cblr-1719	644	1	i	i	PRON
cblr-1719	644	2	d.	d.	NOUN
cblr-1719	644	3	at	at	ADP
cblr-1719	644	4	10	10	NUM
cblr-1719	644	5	.	.	PUNCT
cblr-1719	644	6	217	217	NUM
cblr-1719	644	7	ferrarini	ferrarini	X
cblr-1719	644	8	,	,	PUNCT
cblr-1719	644	9	supra	supra	PROPN
cblr-1719	644	10	note	note	NOUN
cblr-1719	644	11	212	212	NUM
cblr-1719	644	12	,	,	PUNCT
cblr-1719	644	13	at	at	ADP
cblr-1719	644	14	150–51	150–51	NUM
cblr-1719	644	15	.	.	PUNCT
cblr-1719	645	1	lin	lin	PROPN
cblr-1719	645	2	–	–	PUNCT
cblr-1719	645	3	final	final	ADJ
cblr-1719	645	4	504	504	NUM
cblr-1719	645	5	columbia	columbia	PROPN
cblr-1719	645	6	business	business	NOUN
cblr-1719	645	7	law	law	NOUN
cblr-1719	645	8	review	review	NOUN
cblr-1719	645	9	[	[	X
cblr-1719	645	10	vol	vol	NOUN
cblr-1719	645	11	.	.	NOUN
cblr-1719	645	12	2017	2017	NUM
cblr-1719	645	13	mechanisms	mechanism	NOUN
cblr-1719	645	14	could	could	AUX
cblr-1719	645	15	be	be	AUX
cblr-1719	645	16	beneficial	beneficial	ADJ
cblr-1719	645	17	under	under	ADP
cblr-1719	645	18	certain	certain	ADJ
cblr-1719	645	19	situations	situation	NOUN
cblr-1719	645	20	and/or	and/or	CCONJ
cblr-1719	645	21	for	for	ADP
cblr-1719	645	22	certain	certain	ADJ
cblr-1719	645	23	companies	company	NOUN
cblr-1719	645	24	.	.	PUNCT
cblr-1719	646	1	family	family	NOUN
cblr-1719	646	2	-	-	PUNCT
cblr-1719	646	3	controlled	control	VERB
cblr-1719	646	4	firms	firm	NOUN
cblr-1719	646	5	,	,	PUNCT
cblr-1719	646	6	firms	firm	NOUN
cblr-1719	646	7	in	in	ADP
cblr-1719	646	8	the	the	DET
cblr-1719	646	9	media	medium	NOUN
cblr-1719	646	10	industry	industry	NOUN
cblr-1719	646	11	,	,	PUNCT
cblr-1719	646	12	and	and	CCONJ
cblr-1719	646	13	,	,	PUNCT
cblr-1719	646	14	recently	recently	ADV
cblr-1719	646	15	,	,	PUNCT
cblr-1719	646	16	firms	firm	NOUN
cblr-1719	646	17	in	in	ADP
cblr-1719	646	18	the	the	DET
cblr-1719	646	19	high	high	ADJ
cblr-1719	646	20	-	-	PUNCT
cblr-1719	646	21	tech	tech	NOUN
cblr-1719	646	22	industry	industry	NOUN
cblr-1719	646	23	are	be	AUX
cblr-1719	646	24	the	the	DET
cblr-1719	646	25	types	type	NOUN
cblr-1719	646	26	of	of	ADP
cblr-1719	646	27	firms	firm	NOUN
cblr-1719	646	28	that	that	PRON
cblr-1719	646	29	tend	tend	VERB
cblr-1719	646	30	to	to	PART
cblr-1719	646	31	choose	choose	VERB
cblr-1719	646	32	a	a	DET
cblr-1719	646	33	leveraged	leverage	VERB
cblr-1719	646	34	control	control	NOUN
cblr-1719	646	35	structure.218	structure.218	PROPN
cblr-1719	646	36	oftentimes	oftentime	NOUN
cblr-1719	646	37	,	,	PUNCT
cblr-1719	646	38	founding	found	VERB
cblr-1719	646	39	families	family	NOUN
cblr-1719	646	40	and	and	CCONJ
cblr-1719	646	41	entrepreneurs	entrepreneur	NOUN
cblr-1719	646	42	are	be	AUX
cblr-1719	646	43	unwilling	unwilling	ADJ
cblr-1719	646	44	to	to	PART
cblr-1719	646	45	relinquish	relinquish	VERB
cblr-1719	646	46	control	control	NOUN
cblr-1719	646	47	in	in	ADP
cblr-1719	646	48	exchange	exchange	NOUN
cblr-1719	646	49	for	for	ADP
cblr-1719	646	50	external	external	ADJ
cblr-1719	646	51	financing	financing	NOUN
cblr-1719	646	52	.	.	PUNCT
cblr-1719	647	1	however	however	ADV
cblr-1719	647	2	,	,	PUNCT
cblr-1719	647	3	if	if	SCONJ
cblr-1719	647	4	controlenhancing	controlenhancing	ADJ
cblr-1719	647	5	mechanisms	mechanism	NOUN
cblr-1719	647	6	are	be	AUX
cblr-1719	647	7	not	not	PART
cblr-1719	647	8	allowed	allow	VERB
cblr-1719	647	9	,	,	PUNCT
cblr-1719	647	10	many	many	ADJ
cblr-1719	647	11	start	start	VERB
cblr-1719	647	12	-	-	PUNCT
cblr-1719	647	13	up	up	ADP
cblr-1719	647	14	companies	company	NOUN
cblr-1719	647	15	or	or	CCONJ
cblr-1719	647	16	family	family	NOUN
cblr-1719	647	17	businesses	business	NOUN
cblr-1719	647	18	may	may	AUX
cblr-1719	647	19	lose	lose	VERB
cblr-1719	647	20	the	the	DET
cblr-1719	647	21	chance	chance	NOUN
cblr-1719	647	22	to	to	PART
cblr-1719	647	23	grow	grow	VERB
cblr-1719	647	24	,	,	PUNCT
cblr-1719	647	25	which	which	PRON
cblr-1719	647	26	could	could	AUX
cblr-1719	647	27	hamper	hamper	VERB
cblr-1719	647	28	national	national	ADJ
cblr-1719	647	29	economic	economic	ADJ
cblr-1719	647	30	development	development	NOUN
cblr-1719	647	31	.	.	PUNCT
cblr-1719	648	1	thus	thus	ADV
cblr-1719	648	2	,	,	PUNCT
cblr-1719	648	3	this	this	DET
cblr-1719	648	4	article	article	NOUN
cblr-1719	648	5	argues	argue	VERB
cblr-1719	648	6	against	against	ADP
cblr-1719	648	7	the	the	DET
cblr-1719	648	8	outright	outright	ADJ
cblr-1719	648	9	prohibition	prohibition	NOUN
cblr-1719	648	10	of	of	ADP
cblr-1719	648	11	any	any	DET
cblr-1719	648	12	specific	specific	ADJ
cblr-1719	648	13	type	type	NOUN
cblr-1719	648	14	of	of	ADP
cblr-1719	648	15	control	control	NOUN
cblr-1719	648	16	-	-	PUNCT
cblr-1719	648	17	enhancing	enhance	VERB
cblr-1719	648	18	device	device	NOUN
cblr-1719	648	19	and	and	CCONJ
cblr-1719	648	20	advocates	advocate	VERB
cblr-1719	648	21	returning	return	VERB
cblr-1719	648	22	decision	decision	NOUN
cblr-1719	648	23	-	-	PUNCT
cblr-1719	648	24	making	make	VERB
cblr-1719	648	25	rights	right	NOUN
cblr-1719	648	26	to	to	ADP
cblr-1719	648	27	shareholders	shareholder	NOUN
cblr-1719	648	28	to	to	PART
cblr-1719	648	29	decide	decide	VERB
cblr-1719	648	30	whether	whether	SCONJ
cblr-1719	648	31	specific	specific	ADJ
cblr-1719	648	32	governance	governance	NOUN
cblr-1719	648	33	structures	structure	NOUN
cblr-1719	648	34	are	be	AUX
cblr-1719	648	35	good	good	ADJ
cblr-1719	648	36	for	for	ADP
cblr-1719	648	37	the	the	DET
cblr-1719	648	38	company	company	NOUN
cblr-1719	648	39	.	.	PUNCT
cblr-1719	649	1	b.	b.	PROPN
cblr-1719	650	1	empowering	empower	VERB
cblr-1719	650	2	minority	minority	NOUN
cblr-1719	650	3	shareholders	shareholder	NOUN
cblr-1719	650	4	this	this	DET
cblr-1719	650	5	article	article	NOUN
cblr-1719	650	6	argues	argue	VERB
cblr-1719	650	7	that	that	SCONJ
cblr-1719	650	8	empowering	empower	VERB
cblr-1719	650	9	shareholders	shareholder	NOUN
cblr-1719	650	10	would	would	AUX
cblr-1719	650	11	best	well	ADV
cblr-1719	650	12	mitigate	mitigate	VERB
cblr-1719	650	13	the	the	DET
cblr-1719	650	14	risks	risk	NOUN
cblr-1719	650	15	of	of	ADP
cblr-1719	650	16	midstream	midstream	NOUN
cblr-1719	650	17	opportunistic	opportunistic	ADJ
cblr-1719	650	18	change	change	NOUN
cblr-1719	650	19	by	by	ADP
cblr-1719	650	20	controllers	controller	NOUN
cblr-1719	650	21	with	with	ADP
cblr-1719	650	22	leveraged	leveraged	ADJ
cblr-1719	650	23	control	control	NOUN
cblr-1719	650	24	and	and	CCONJ
cblr-1719	650	25	would	would	AUX
cblr-1719	650	26	allow	allow	VERB
cblr-1719	650	27	shareholders	shareholder	NOUN
cblr-1719	650	28	to	to	PART
cblr-1719	650	29	adopt	adopt	VERB
cblr-1719	650	30	value	value	NOUN
cblr-1719	650	31	-	-	PUNCT
cblr-1719	650	32	increasing	increase	VERB
cblr-1719	650	33	midstream	midstream	NOUN
cblr-1719	650	34	charter	charter	NOUN
cblr-1719	650	35	amendments	amendment	NOUN
cblr-1719	650	36	.	.	PUNCT
cblr-1719	651	1	as	as	SCONJ
cblr-1719	651	2	this	this	DET
cblr-1719	651	3	article	article	NOUN
cblr-1719	651	4	has	have	AUX
cblr-1719	651	5	previously	previously	ADV
cblr-1719	651	6	illustrated	illustrate	VERB
cblr-1719	651	7	,	,	PUNCT
cblr-1719	651	8	there	there	PRON
cblr-1719	651	9	is	be	VERB
cblr-1719	651	10	an	an	DET
cblr-1719	651	11	extreme	extreme	ADJ
cblr-1719	651	12	imbalance	imbalance	NOUN
cblr-1719	651	13	of	of	ADP
cblr-1719	651	14	power	power	NOUN
cblr-1719	651	15	between	between	ADP
cblr-1719	651	16	leveraged	leveraged	ADJ
cblr-1719	651	17	controllers	controller	NOUN
cblr-1719	651	18	and	and	CCONJ
cblr-1719	651	19	outside	outside	ADJ
cblr-1719	651	20	shareholders	shareholder	NOUN
cblr-1719	651	21	.	.	PUNCT
cblr-1719	652	1	the	the	DET
cblr-1719	652	2	extreme	extreme	ADJ
cblr-1719	652	3	protective	protective	ADJ
cblr-1719	652	4	schemes	scheme	NOUN
cblr-1719	652	5	created	create	VERB
cblr-1719	652	6	during	during	ADP
cblr-1719	652	7	the	the	DET
cblr-1719	652	8	ipo	ipo	NOUN
cblr-1719	652	9	stage	stage	NOUN
cblr-1719	652	10	are	be	AUX
cblr-1719	652	11	unlikely	unlikely	ADJ
cblr-1719	652	12	to	to	PART
cblr-1719	652	13	be	be	AUX
cblr-1719	652	14	renegotiated	renegotiate	VERB
cblr-1719	652	15	by	by	ADP
cblr-1719	652	16	outside	outside	ADJ
cblr-1719	652	17	shareholders	shareholder	NOUN
cblr-1719	652	18	afterwards	afterwards	ADV
cblr-1719	652	19	due	due	ADP
cblr-1719	652	20	to	to	ADP
cblr-1719	652	21	the	the	DET
cblr-1719	652	22	nature	nature	NOUN
cblr-1719	652	23	of	of	ADP
cblr-1719	652	24	control	control	NOUN
cblr-1719	652	25	-	-	PUNCT
cblr-1719	652	26	enhancing	enhance	VERB
cblr-1719	652	27	mechanisms	mechanism	NOUN
cblr-1719	652	28	and	and	CCONJ
cblr-1719	652	29	the	the	DET
cblr-1719	652	30	commonly	commonly	ADV
cblr-1719	652	31	included	include	VERB
cblr-1719	652	32	supermajority	supermajority	NOUN
cblr-1719	652	33	vote	vote	NOUN
cblr-1719	652	34	requirement	requirement	NOUN
cblr-1719	652	35	for	for	ADP
cblr-1719	652	36	charter	charter	NOUN
cblr-1719	652	37	amendments	amendment	NOUN
cblr-1719	652	38	.	.	PUNCT
cblr-1719	653	1	even	even	ADV
cblr-1719	653	2	without	without	ADP
cblr-1719	653	3	the	the	DET
cblr-1719	653	4	supermajority	supermajority	NOUN
cblr-1719	653	5	provision	provision	NOUN
cblr-1719	653	6	,	,	PUNCT
cblr-1719	653	7	controllers	controller	NOUN
cblr-1719	653	8	are	be	AUX
cblr-1719	653	9	likely	likely	ADJ
cblr-1719	653	10	to	to	PART
cblr-1719	653	11	control	control	VERB
cblr-1719	653	12	over	over	ADP
cblr-1719	653	13	half	half	NOUN
cblr-1719	653	14	of	of	ADP
cblr-1719	653	15	voting	vote	VERB
cblr-1719	653	16	powers	power	NOUN
cblr-1719	653	17	through	through	ADP
cblr-1719	653	18	control	control	NOUN
cblr-1719	653	19	-	-	PUNCT
cblr-1719	653	20	enhancing	enhance	VERB
cblr-1719	653	21	mechanisms	mechanism	NOUN
cblr-1719	653	22	.	.	PUNCT
cblr-1719	654	1	thus	thus	ADV
cblr-1719	654	2	,	,	PUNCT
cblr-1719	654	3	outside	outside	ADJ
cblr-1719	654	4	shareholders	shareholder	NOUN
cblr-1719	654	5	of	of	ADP
cblr-1719	654	6	leveraged	leveraged	ADJ
cblr-1719	654	7	control	control	NOUN
cblr-1719	654	8	firms	firm	NOUN
cblr-1719	654	9	are	be	AUX
cblr-1719	654	10	generally	generally	ADV
cblr-1719	654	11	unable	unable	ADJ
cblr-1719	654	12	to	to	PART
cblr-1719	654	13	exercise	exercise	VERB
cblr-1719	654	14	their	their	PRON
cblr-1719	654	15	renegotiation	renegotiation	NOUN
cblr-1719	654	16	right	right	ADV
cblr-1719	654	17	and	and	CCONJ
cblr-1719	654	18	thus	thus	ADV
cblr-1719	654	19	are	be	AUX
cblr-1719	654	20	exposed	expose	VERB
cblr-1719	654	21	to	to	ADP
cblr-1719	654	22	higher	high	ADJ
cblr-1719	654	23	agency	agency	NOUN
cblr-1719	654	24	costs	cost	NOUN
cblr-1719	654	25	arising	arise	VERB
cblr-1719	654	26	from	from	ADP
cblr-1719	654	27	insiders	insider	NOUN
cblr-1719	654	28	’	'	PUNCT
cblr-1719	654	29	moral	moral	ADJ
cblr-1719	654	30	hazard	hazard	NOUN
cblr-1719	655	1	problem.219	problem.219	ADP
cblr-1719	655	2	the	the	DET
cblr-1719	655	3	best	good	ADJ
cblr-1719	655	4	way	way	NOUN
cblr-1719	655	5	to	to	PART
cblr-1719	655	6	restore	restore	VERB
cblr-1719	655	7	the	the	DET
cblr-1719	655	8	balance	balance	NOUN
cblr-1719	655	9	of	of	ADP
cblr-1719	655	10	power	power	NOUN
cblr-1719	655	11	in	in	ADP
cblr-1719	655	12	a	a	DET
cblr-1719	655	13	218	218	NUM
cblr-1719	655	14	gompers	gomper	NOUN
cblr-1719	655	15	et	et	NOUN
cblr-1719	655	16	al	al	PROPN
cblr-1719	655	17	.	.	PROPN
cblr-1719	655	18	,	,	PUNCT
cblr-1719	655	19	supra	supra	PROPN
cblr-1719	655	20	note	note	PROPN
cblr-1719	655	21	8	8	NUM
cblr-1719	655	22	,	,	PUNCT
cblr-1719	655	23	at	at	ADP
cblr-1719	655	24	1084	1084	NUM
cblr-1719	655	25	;	;	PUNCT
cblr-1719	655	26	goshen	goshen	PROPN
cblr-1719	655	27	&	&	CCONJ
cblr-1719	655	28	hamdani	hamdani	PROPN
cblr-1719	656	1	,	,	PUNCT
cblr-1719	656	2	supra	supra	PROPN
cblr-1719	656	3	note	note	NOUN
cblr-1719	656	4	81	81	NUM
cblr-1719	656	5	,	,	PUNCT
cblr-1719	656	6	at	at	ADP
cblr-1719	656	7	591	591	NUM
cblr-1719	656	8	.	.	PUNCT
cblr-1719	657	1	219	219	NUM
cblr-1719	657	2	see	see	VERB
cblr-1719	657	3	goshen	goshen	PROPN
cblr-1719	657	4	&	&	CCONJ
cblr-1719	657	5	hamdani	hamdani	PROPN
cblr-1719	657	6	,	,	PUNCT
cblr-1719	657	7	supra	supra	PROPN
cblr-1719	657	8	note	note	NOUN
cblr-1719	657	9	81	81	NUM
cblr-1719	657	10	,	,	PUNCT
cblr-1719	657	11	at	at	ADP
cblr-1719	657	12	588–91	588–91	NUM
cblr-1719	657	13	.	.	PUNCT
cblr-1719	658	1	lin	lin	PROPN
cblr-1719	658	2	–	–	PUNCT
cblr-1719	658	3	final	final	ADJ
cblr-1719	658	4	no	no	NOUN
cblr-1719	658	5	.	.	PUNCT
cblr-1719	658	6	2:453	2:453	NUM
cblr-1719	658	7	]	]	X
cblr-1719	658	8	controlling	control	VERB
cblr-1719	658	9	-	-	PUNCT
cblr-1719	658	10	minority	minority	NOUN
cblr-1719	658	11	shareholders	shareholder	NOUN
cblr-1719	658	12	505	505	NUM
cblr-1719	658	13	leveraged	leveraged	ADJ
cblr-1719	658	14	control	control	NOUN
cblr-1719	658	15	firm	firm	NOUN
cblr-1719	658	16	is	be	AUX
cblr-1719	658	17	to	to	PART
cblr-1719	658	18	empower	empower	VERB
cblr-1719	658	19	outside	outside	ADP
cblr-1719	658	20	shareholders	shareholder	NOUN
cblr-1719	658	21	.	.	PUNCT
cblr-1719	659	1	specifically	specifically	ADV
cblr-1719	659	2	,	,	PUNCT
cblr-1719	659	3	this	this	DET
cblr-1719	659	4	article	article	NOUN
cblr-1719	659	5	proposes	propose	VERB
cblr-1719	659	6	empowering	empower	VERB
cblr-1719	659	7	outside	outside	ADJ
cblr-1719	659	8	shareholders	shareholder	NOUN
cblr-1719	659	9	by	by	ADP
cblr-1719	659	10	increasing	increase	VERB
cblr-1719	659	11	shareholder	shareholder	NOUN
cblr-1719	659	12	participation	participation	NOUN
cblr-1719	659	13	through	through	ADP
cblr-1719	659	14	shareholder	shareholder	NOUN
cblr-1719	659	15	activism	activism	NOUN
cblr-1719	659	16	.	.	PUNCT
cblr-1719	660	1	1	1	X
cblr-1719	660	2	.	.	X
cblr-1719	660	3	increasing	increase	VERB
cblr-1719	660	4	shareholder	shareholder	NOUN
cblr-1719	660	5	participation	participation	NOUN
cblr-1719	660	6	similar	similar	ADJ
cblr-1719	660	7	to	to	ADP
cblr-1719	660	8	control	control	NOUN
cblr-1719	660	9	-	-	PUNCT
cblr-1719	660	10	enhancing	enhance	VERB
cblr-1719	660	11	mechanisms	mechanism	NOUN
cblr-1719	660	12	,	,	PUNCT
cblr-1719	660	13	anti	anti	ADJ
cblr-1719	660	14	-	-	ADJ
cblr-1719	660	15	takeover	takeover	ADJ
cblr-1719	660	16	measures	measure	NOUN
cblr-1719	660	17	are	be	AUX
cblr-1719	660	18	commonly	commonly	ADV
cblr-1719	660	19	viewed	view	VERB
cblr-1719	660	20	as	as	ADP
cblr-1719	660	21	protective	protective	ADJ
cblr-1719	660	22	schemes	scheme	NOUN
cblr-1719	660	23	that	that	PRON
cblr-1719	660	24	entrench	entrench	VERB
cblr-1719	660	25	incumbents	incumbent	NOUN
cblr-1719	660	26	and	and	CCONJ
cblr-1719	660	27	reduce	reduce	VERB
cblr-1719	660	28	shareholder	shareholder	NOUN
cblr-1719	660	29	value.220	value.220	ADP
cblr-1719	660	30	however	however	ADV
cblr-1719	660	31	,	,	PUNCT
cblr-1719	660	32	shareholder	shareholder	NOUN
cblr-1719	660	33	participation	participation	NOUN
cblr-1719	660	34	in	in	ADP
cblr-1719	660	35	the	the	DET
cblr-1719	660	36	adoption	adoption	NOUN
cblr-1719	660	37	of	of	ADP
cblr-1719	660	38	antitakeover	antitakeover	ADJ
cblr-1719	660	39	measures	measure	NOUN
cblr-1719	660	40	may	may	AUX
cblr-1719	660	41	bring	bring	VERB
cblr-1719	660	42	positive	positive	ADJ
cblr-1719	660	43	value	value	NOUN
cblr-1719	660	44	to	to	ADP
cblr-1719	660	45	shareholders	shareholder	NOUN
cblr-1719	660	46	.	.	PUNCT
cblr-1719	661	1	this	this	PRON
cblr-1719	661	2	is	be	AUX
cblr-1719	661	3	because	because	SCONJ
cblr-1719	661	4	their	their	PRON
cblr-1719	661	5	approval	approval	NOUN
cblr-1719	661	6	may	may	AUX
cblr-1719	661	7	represent	represent	VERB
cblr-1719	661	8	shareholder	shareholder	NOUN
cblr-1719	661	9	commitment	commitment	NOUN
cblr-1719	661	10	not	not	PART
cblr-1719	661	11	to	to	PART
cblr-1719	661	12	dismiss	dismiss	VERB
cblr-1719	661	13	directors	director	NOUN
cblr-1719	661	14	prematurely	prematurely	ADV
cblr-1719	661	15	and	and	CCONJ
cblr-1719	661	16	thus	thus	ADV
cblr-1719	661	17	allow	allow	VERB
cblr-1719	661	18	directors	director	NOUN
cblr-1719	661	19	to	to	PART
cblr-1719	661	20	pursue	pursue	VERB
cblr-1719	661	21	projects	project	NOUN
cblr-1719	661	22	that	that	PRON
cblr-1719	661	23	are	be	AUX
cblr-1719	661	24	beneficial	beneficial	ADJ
cblr-1719	661	25	to	to	ADP
cblr-1719	661	26	shareholders	shareholder	NOUN
cblr-1719	661	27	in	in	ADP
cblr-1719	661	28	the	the	DET
cblr-1719	661	29	long	long	ADJ
cblr-1719	661	30	run.221	run.221	NOUN
cblr-1719	661	31	recent	recent	ADJ
cblr-1719	661	32	empirical	empirical	ADJ
cblr-1719	661	33	studies	study	NOUN
cblr-1719	661	34	also	also	ADV
cblr-1719	661	35	confirm	confirm	VERB
cblr-1719	661	36	the	the	DET
cblr-1719	661	37	validity	validity	NOUN
cblr-1719	661	38	of	of	ADP
cblr-1719	661	39	this	this	DET
cblr-1719	661	40	hypothesis	hypothesis	NOUN
cblr-1719	661	41	and	and	CCONJ
cblr-1719	661	42	find	find	VERB
cblr-1719	661	43	that	that	SCONJ
cblr-1719	661	44	antitakeover	antitakeover	ADJ
cblr-1719	661	45	measures	measure	NOUN
cblr-1719	661	46	that	that	PRON
cblr-1719	661	47	require	require	VERB
cblr-1719	661	48	shareholder	shareholder	NOUN
cblr-1719	661	49	approval	approval	NOUN
cblr-1719	661	50	,	,	PUNCT
cblr-1719	661	51	such	such	ADJ
cblr-1719	661	52	as	as	ADP
cblr-1719	661	53	staggered	staggered	ADJ
cblr-1719	661	54	boards	board	NOUN
cblr-1719	661	55	and	and	CCONJ
cblr-1719	661	56	charter	charter	NOUN
cblr-1719	661	57	amendment	amendment	NOUN
cblr-1719	661	58	restrictions	restriction	NOUN
cblr-1719	661	59	,	,	PUNCT
cblr-1719	661	60	are	be	AUX
cblr-1719	661	61	associated	associate	VERB
cblr-1719	661	62	with	with	ADP
cblr-1719	661	63	higher	high	ADJ
cblr-1719	661	64	firm	firm	ADJ
cblr-1719	661	65	value	value	NOUN
cblr-1719	661	66	than	than	ADP
cblr-1719	661	67	those	those	PRON
cblr-1719	661	68	adopted	adopt	VERB
cblr-1719	661	69	unilaterally	unilaterally	ADV
cblr-1719	661	70	by	by	ADP
cblr-1719	661	71	the	the	DET
cblr-1719	661	72	board	board	NOUN
cblr-1719	661	73	,	,	PUNCT
cblr-1719	661	74	such	such	ADJ
cblr-1719	661	75	as	as	ADP
cblr-1719	661	76	poison	poison	NOUN
cblr-1719	661	77	pills	pill	NOUN
cblr-1719	661	78	and	and	CCONJ
cblr-1719	661	79	golden	golden	ADJ
cblr-1719	661	80	parachutes.222	parachutes.222	ADJ
cblr-1719	661	81	people	people	NOUN
cblr-1719	661	82	may	may	AUX
cblr-1719	661	83	doubt	doubt	VERB
cblr-1719	661	84	the	the	DET
cblr-1719	661	85	effectiveness	effectiveness	NOUN
cblr-1719	661	86	of	of	ADP
cblr-1719	661	87	shareholder	shareholder	NOUN
cblr-1719	661	88	voting	voting	NOUN
cblr-1719	661	89	in	in	ADP
cblr-1719	661	90	a	a	DET
cblr-1719	661	91	controlled	control	VERB
cblr-1719	661	92	firm	firm	NOUN
cblr-1719	661	93	,	,	PUNCT
cblr-1719	661	94	particularly	particularly	ADV
cblr-1719	661	95	in	in	ADP
cblr-1719	661	96	a	a	DET
cblr-1719	661	97	leveraged	leveraged	ADJ
cblr-1719	661	98	control	control	NOUN
cblr-1719	661	99	firm	firm	NOUN
cblr-1719	661	100	,	,	PUNCT
cblr-1719	661	101	because	because	SCONJ
cblr-1719	661	102	the	the	PRON
cblr-1719	661	103	higher	high	ADJ
cblr-1719	661	104	the	the	DET
cblr-1719	661	105	percentage	percentage	NOUN
cblr-1719	661	106	of	of	ADP
cblr-1719	661	107	votes	vote	NOUN
cblr-1719	661	108	controlled	control	VERB
cblr-1719	661	109	by	by	ADP
cblr-1719	661	110	insiders	insider	NOUN
cblr-1719	661	111	,	,	PUNCT
cblr-1719	661	112	the	the	PRON
cblr-1719	661	113	lesser	less	ADJ
cblr-1719	661	114	the	the	DET
cblr-1719	661	115	chance	chance	NOUN
cblr-1719	661	116	that	that	SCONJ
cblr-1719	661	117	outside	outside	ADJ
cblr-1719	661	118	shareholders	shareholder	NOUN
cblr-1719	661	119	will	will	AUX
cblr-1719	661	120	be	be	AUX
cblr-1719	661	121	able	able	ADJ
cblr-1719	661	122	to	to	PART
cblr-1719	661	123	challenge	challenge	VERB
cblr-1719	661	124	the	the	DET
cblr-1719	661	125	exertion	exertion	NOUN
cblr-1719	661	126	of	of	ADP
cblr-1719	661	127	such	such	ADJ
cblr-1719	661	128	control	control	NOUN
cblr-1719	661	129	.	.	PUNCT
cblr-1719	662	1	however	however	ADV
cblr-1719	662	2	,	,	PUNCT
cblr-1719	662	3	recent	recent	ADJ
cblr-1719	662	4	empirical	empirical	ADJ
cblr-1719	662	5	studies	study	NOUN
cblr-1719	662	6	report	report	VERB
cblr-1719	662	7	otherwise	otherwise	ADV
cblr-1719	662	8	.	.	PUNCT
cblr-1719	663	1	they	they	PRON
cblr-1719	663	2	show	show	VERB
cblr-1719	663	3	that	that	SCONJ
cblr-1719	663	4	shareholder	shareholder	NOUN
cblr-1719	663	5	voting	voting	NOUN
cblr-1719	663	6	can	can	AUX
cblr-1719	663	7	be	be	AUX
cblr-1719	663	8	an	an	DET
cblr-1719	663	9	effective	effective	ADJ
cblr-1719	663	10	means	mean	NOUN
cblr-1719	663	11	to	to	PART
cblr-1719	663	12	exercise	exercise	VERB
cblr-1719	663	13	governance	governance	NOUN
cblr-1719	663	14	,	,	PUNCT
cblr-1719	663	15	not	not	PART
cblr-1719	663	16	only	only	ADV
cblr-1719	663	17	in	in	ADP
cblr-1719	663	18	u.s	u.s	PROPN
cblr-1719	663	19	.	.	PROPN
cblr-1719	663	20	firms	firm	NOUN
cblr-1719	663	21	but	but	CCONJ
cblr-1719	663	22	also	also	ADV
cblr-1719	663	23	in	in	ADP
cblr-1719	663	24	non	non	ADJ
cblr-1719	663	25	-	-	ADJ
cblr-1719	663	26	u.s	u.s	ADJ
cblr-1719	663	27	.	.	PROPN
cblr-1719	663	28	220	220	NUM
cblr-1719	663	29	gompers	gomper	NOUN
cblr-1719	663	30	et	et	PROPN
cblr-1719	663	31	al	al	PROPN
cblr-1719	663	32	.	.	PROPN
cblr-1719	663	33	,	,	PUNCT
cblr-1719	663	34	supra	supra	PROPN
cblr-1719	663	35	note	note	PROPN
cblr-1719	663	36	8	8	NUM
cblr-1719	663	37	;	;	PUNCT
cblr-1719	663	38	lucian	lucian	PROPN
cblr-1719	663	39	a.	a.	PROPN
cblr-1719	663	40	bebchuk	bebchuk	PROPN
cblr-1719	663	41	,	,	PUNCT
cblr-1719	663	42	alma	alma	PROPN
cblr-1719	663	43	cohen	cohen	PROPN
cblr-1719	663	44	&	&	CCONJ
cblr-1719	663	45	allen	allen	PROPN
cblr-1719	663	46	ferrell	ferrell	PROPN
cblr-1719	663	47	,	,	PUNCT
cblr-1719	663	48	what	what	PRON
cblr-1719	663	49	matters	matter	VERB
cblr-1719	663	50	in	in	ADP
cblr-1719	663	51	corporate	corporate	ADJ
cblr-1719	663	52	governance	governance	NOUN
cblr-1719	663	53	?	?	PUNCT
cblr-1719	663	54	,	,	PUNCT
cblr-1719	663	55	22	22	NUM
cblr-1719	663	56	rev	rev	VERB
cblr-1719	663	57	.	.	PROPN
cblr-1719	664	1	fin	fin	NOUN
cblr-1719	664	2	.	.	PUNCT
cblr-1719	665	1	studs	stud	NOUN
cblr-1719	665	2	.	.	PUNCT
cblr-1719	666	1	783	783	NUM
cblr-1719	666	2	,	,	PUNCT
cblr-1719	666	3	784	784	NUM
cblr-1719	666	4	(	(	PUNCT
cblr-1719	666	5	2009	2009	NUM
cblr-1719	666	6	)	)	PUNCT
cblr-1719	666	7	.	.	PUNCT
cblr-1719	667	1	221	221	NUM
cblr-1719	667	2	ronald	ronald	PROPN
cblr-1719	667	3	j.	j.	PROPN
cblr-1719	667	4	gilson	gilson	PROPN
cblr-1719	667	5	,	,	PUNCT
cblr-1719	667	6	seeking	seek	VERB
cblr-1719	667	7	competitive	competitive	ADJ
cblr-1719	667	8	bids	bid	NOUN
cblr-1719	667	9	versus	versus	ADP
cblr-1719	667	10	pure	pure	ADJ
cblr-1719	667	11	passivity	passivity	NOUN
cblr-1719	667	12	in	in	ADP
cblr-1719	667	13	tender	tender	NOUN
cblr-1719	667	14	offer	offer	NOUN
cblr-1719	667	15	defense	defense	NOUN
cblr-1719	667	16	,	,	PUNCT
cblr-1719	667	17	35	35	NUM
cblr-1719	667	18	stan	stan	NOUN
cblr-1719	667	19	.	.	PUNCT
cblr-1719	668	1	l.	l.	PROPN
cblr-1719	668	2	rev	rev	PROPN
cblr-1719	668	3	.	.	PROPN
cblr-1719	668	4	51	51	NUM
cblr-1719	668	5	,	,	PUNCT
cblr-1719	668	6	63–64	63–64	NUM
cblr-1719	668	7	(	(	PUNCT
cblr-1719	668	8	1982	1982	NUM
cblr-1719	668	9	)	)	PUNCT
cblr-1719	668	10	.	.	PUNCT
cblr-1719	669	1	222	222	NUM
cblr-1719	669	2	k.j	k.j	PROPN
cblr-1719	669	3	.	.	PUNCT
cblr-1719	670	1	martijn	martijn	PROPN
cblr-1719	670	2	cremers	cremers	PROPN
cblr-1719	670	3	et	et	PROPN
cblr-1719	670	4	al	al	PROPN
cblr-1719	670	5	.	.	PROPN
cblr-1719	670	6	,	,	PUNCT
cblr-1719	670	7	commitment	commitment	NOUN
cblr-1719	670	8	and	and	CCONJ
cblr-1719	670	9	entrenchment	entrenchment	NOUN
cblr-1719	670	10	in	in	ADP
cblr-1719	670	11	corporate	corporate	ADJ
cblr-1719	670	12	governance	governance	NOUN
cblr-1719	670	13	,	,	PUNCT
cblr-1719	670	14	110	110	NUM
cblr-1719	670	15	nw	nw	AUX
cblr-1719	670	16	u.l	u.l	PROPN
cblr-1719	670	17	.	.	PROPN
cblr-1719	670	18	rev	rev	PROPN
cblr-1719	670	19	.	.	PROPN
cblr-1719	670	20	727	727	NUM
cblr-1719	670	21	,	,	PUNCT
cblr-1719	670	22	730	730	NUM
cblr-1719	670	23	(	(	PUNCT
cblr-1719	670	24	2016	2016	NUM
cblr-1719	670	25	)	)	PUNCT
cblr-1719	670	26	;	;	PUNCT
cblr-1719	670	27	cremers	cremer	NOUN
cblr-1719	670	28	&	&	CCONJ
cblr-1719	670	29	sepe	sepe	PROPN
cblr-1719	670	30	,	,	PUNCT
cblr-1719	670	31	supra	supra	PROPN
cblr-1719	670	32	note	note	PROPN
cblr-1719	670	33	80	80	NUM
cblr-1719	670	34	,	,	PUNCT
cblr-1719	670	35	at	at	ADP
cblr-1719	670	36	67	67	NUM
cblr-1719	670	37	.	.	PUNCT
cblr-1719	671	1	lin	lin	PROPN
cblr-1719	671	2	–	–	PUNCT
cblr-1719	671	3	final	final	ADJ
cblr-1719	671	4	506	506	NUM
cblr-1719	671	5	columbia	columbia	PROPN
cblr-1719	671	6	business	business	NOUN
cblr-1719	671	7	law	law	PROPN
cblr-1719	671	8	review	review	NOUN
cblr-1719	671	9	[	[	X
cblr-1719	671	10	vol	vol	NOUN
cblr-1719	671	11	.	.	NOUN
cblr-1719	671	12	2017	2017	NUM
cblr-1719	671	13	firms223	firms223	PROPN
cblr-1719	671	14	and	and	CCONJ
cblr-1719	671	15	firms	firm	NOUN
cblr-1719	671	16	with	with	ADP
cblr-1719	671	17	substantial	substantial	ADJ
cblr-1719	671	18	insider	insider	NOUN
cblr-1719	671	19	control.224	control.224	NOUN
cblr-1719	671	20	peter	peter	PROPN
cblr-1719	671	21	iliev	iliev	PROPN
cblr-1719	671	22	et	et	PROPN
cblr-1719	671	23	al	al	PROPN
cblr-1719	671	24	.	.	PROPN
cblr-1719	671	25	investigated	investigate	VERB
cblr-1719	671	26	the	the	DET
cblr-1719	671	27	effectiveness	effectiveness	NOUN
cblr-1719	671	28	of	of	ADP
cblr-1719	671	29	shareholder	shareholder	NOUN
cblr-1719	671	30	voting	voting	NOUN
cblr-1719	671	31	by	by	ADP
cblr-1719	671	32	u.s	u.s	PROPN
cblr-1719	671	33	.	.	PROPN
cblr-1719	671	34	institutional	institutional	ADJ
cblr-1719	671	35	investors	investor	NOUN
cblr-1719	671	36	on	on	ADP
cblr-1719	671	37	director	director	NOUN
cblr-1719	671	38	election	election	NOUN
cblr-1719	671	39	and	and	CCONJ
cblr-1719	671	40	merger	merger	NOUN
cblr-1719	671	41	approval	approval	NOUN
cblr-1719	671	42	in	in	ADP
cblr-1719	671	43	8160	8160	NUM
cblr-1719	671	44	firms	firm	NOUN
cblr-1719	671	45	across	across	ADP
cblr-1719	671	46	43	43	NUM
cblr-1719	671	47	countries	country	NOUN
cblr-1719	671	48	.	.	PUNCT
cblr-1719	672	1	the	the	DET
cblr-1719	672	2	sample	sample	NOUN
cblr-1719	672	3	firms	firm	NOUN
cblr-1719	672	4	had	have	VERB
cblr-1719	672	5	an	an	DET
cblr-1719	672	6	average	average	ADJ
cblr-1719	672	7	insider	insider	NOUN
cblr-1719	672	8	control	control	NOUN
cblr-1719	672	9	of	of	ADP
cblr-1719	672	10	38.2	38.2	NUM
cblr-1719	672	11	%	%	NOUN
cblr-1719	672	12	;	;	PUNCT
cblr-1719	672	13	yet	yet	CCONJ
cblr-1719	672	14	,	,	PUNCT
cblr-1719	672	15	they	they	PRON
cblr-1719	672	16	found	find	VERB
cblr-1719	672	17	evidence	evidence	NOUN
cblr-1719	672	18	showing	show	VERB
cblr-1719	672	19	that	that	SCONJ
cblr-1719	672	20	there	there	PRON
cblr-1719	672	21	were	be	VERB
cblr-1719	672	22	active	active	ADJ
cblr-1719	672	23	shareholder	shareholder	NOUN
cblr-1719	672	24	voting	voting	NOUN
cblr-1719	672	25	actions	action	NOUN
cblr-1719	672	26	and	and	CCONJ
cblr-1719	672	27	that	that	SCONJ
cblr-1719	672	28	such	such	ADJ
cblr-1719	672	29	voting	voting	NOUN
cblr-1719	672	30	actions	action	NOUN
cblr-1719	672	31	resulted	result	VERB
cblr-1719	672	32	in	in	ADP
cblr-1719	672	33	governance	governance	NOUN
cblr-1719	672	34	-	-	PUNCT
cblr-1719	672	35	related	relate	VERB
cblr-1719	672	36	outcomes	outcome	NOUN
cblr-1719	672	37	.	.	PUNCT
cblr-1719	673	1	225	225	NUM
cblr-1719	673	2	in	in	ADP
cblr-1719	673	3	particular	particular	ADJ
cblr-1719	673	4	,	,	PUNCT
cblr-1719	673	5	greater	great	ADJ
cblr-1719	673	6	dissent	dissent	NOUN
cblr-1719	673	7	voting	voting	NOUN
cblr-1719	673	8	by	by	ADP
cblr-1719	673	9	outside	outside	ADJ
cblr-1719	673	10	shareholders	shareholder	NOUN
cblr-1719	673	11	is	be	AUX
cblr-1719	673	12	associated	associate	VERB
cblr-1719	673	13	with	with	ADP
cblr-1719	673	14	higher	high	ADJ
cblr-1719	673	15	subsequent	subsequent	ADJ
cblr-1719	673	16	director	director	NOUN
cblr-1719	673	17	turnover	turnover	NOUN
cblr-1719	673	18	and	and	CCONJ
cblr-1719	673	19	more	more	ADJ
cblr-1719	673	20	withdrawals	withdrawal	NOUN
cblr-1719	673	21	from	from	ADP
cblr-1719	673	22	merger	merger	NOUN
cblr-1719	673	23	and	and	CCONJ
cblr-1719	673	24	acquisition	acquisition	NOUN
cblr-1719	673	25	deals.226	deals.226	NOUN
cblr-1719	673	26	therefore	therefore	ADV
cblr-1719	673	27	,	,	PUNCT
cblr-1719	673	28	shareholder	shareholder	NOUN
cblr-1719	673	29	participation	participation	NOUN
cblr-1719	673	30	through	through	ADP
cblr-1719	673	31	voting	voting	NOUN
cblr-1719	673	32	may	may	AUX
cblr-1719	673	33	serve	serve	VERB
cblr-1719	673	34	as	as	ADP
cblr-1719	673	35	an	an	DET
cblr-1719	673	36	effective	effective	ADJ
cblr-1719	673	37	monitoring	monitoring	NOUN
cblr-1719	673	38	device	device	NOUN
cblr-1719	673	39	,	,	PUNCT
cblr-1719	673	40	even	even	ADV
cblr-1719	673	41	in	in	ADP
cblr-1719	673	42	a	a	DET
cblr-1719	673	43	controlled	control	VERB
cblr-1719	673	44	firm	firm	NOUN
cblr-1719	673	45	.	.	PUNCT
cblr-1719	674	1	furthermore	furthermore	ADV
cblr-1719	674	2	,	,	PUNCT
cblr-1719	674	3	institutional	institutional	ADJ
cblr-1719	674	4	ownership	ownership	NOUN
cblr-1719	674	5	has	have	AUX
cblr-1719	674	6	grown	grow	VERB
cblr-1719	674	7	dramatically	dramatically	ADV
cblr-1719	674	8	in	in	ADP
cblr-1719	674	9	recent	recent	ADJ
cblr-1719	674	10	years	year	NOUN
cblr-1719	674	11	.	.	PUNCT
cblr-1719	675	1	in	in	ADP
cblr-1719	675	2	the	the	DET
cblr-1719	675	3	united	united	PROPN
cblr-1719	675	4	states	states	PROPN
cblr-1719	675	5	,	,	PUNCT
cblr-1719	675	6	the	the	DET
cblr-1719	675	7	institutional	institutional	ADJ
cblr-1719	675	8	holdings	holding	NOUN
cblr-1719	675	9	of	of	ADP
cblr-1719	675	10	public	public	ADJ
cblr-1719	675	11	equities	equity	NOUN
cblr-1719	675	12	have	have	AUX
cblr-1719	675	13	grown	grow	VERB
cblr-1719	675	14	from	from	ADP
cblr-1719	675	15	6.1	6.1	NUM
cblr-1719	675	16	%	%	NOUN
cblr-1719	675	17	in	in	ADP
cblr-1719	675	18	the	the	DET
cblr-1719	675	19	1950s	1950	NOUN
cblr-1719	675	20	to	to	ADP
cblr-1719	675	21	28.4	28.4	NUM
cblr-1719	675	22	%	%	NOUN
cblr-1719	675	23	in	in	ADP
cblr-1719	675	24	1980	1980	NUM
cblr-1719	675	25	and	and	CCONJ
cblr-1719	675	26	reached	reach	VERB
cblr-1719	675	27	50.6	50.6	NUM
cblr-1719	675	28	%	%	NOUN
cblr-1719	675	29	in	in	ADP
cblr-1719	675	30	2009.227	2009.227	NUM
cblr-1719	675	31	other	other	ADJ
cblr-1719	675	32	countries	country	NOUN
cblr-1719	675	33	are	be	AUX
cblr-1719	675	34	also	also	ADV
cblr-1719	675	35	experiencing	experience	VERB
cblr-1719	675	36	steady	steady	ADJ
cblr-1719	675	37	growth	growth	NOUN
cblr-1719	675	38	in	in	ADP
cblr-1719	675	39	institutional	institutional	ADJ
cblr-1719	675	40	ownership	ownership	NOUN
cblr-1719	675	41	in	in	ADP
cblr-1719	675	42	public	public	ADJ
cblr-1719	675	43	equities.228	equities.228	NUM
cblr-1719	675	44	according	accord	VERB
cblr-1719	675	45	to	to	ADP
cblr-1719	675	46	a	a	DET
cblr-1719	675	47	survey	survey	NOUN
cblr-1719	675	48	of	of	ADP
cblr-1719	675	49	public	public	ADJ
cblr-1719	675	50	companies	company	NOUN
cblr-1719	675	51	in	in	ADP
cblr-1719	675	52	23	23	NUM
cblr-1719	675	53	countries	country	NOUN
cblr-1719	675	54	,	,	PUNCT
cblr-1719	675	55	the	the	DET
cblr-1719	675	56	average	average	ADJ
cblr-1719	675	57	total	total	ADJ
cblr-1719	675	58	institutional	institutional	ADJ
cblr-1719	675	59	ownership	ownership	NOUN
cblr-1719	675	60	in	in	ADP
cblr-1719	675	61	non	non	ADJ
cblr-1719	675	62	-	-	ADJ
cblr-1719	675	63	u.s	u.s	ADJ
cblr-1719	675	64	.	.	PROPN
cblr-1719	675	65	jurisdictions	jurisdiction	NOUN
cblr-1719	675	66	was	be	AUX
cblr-1719	675	67	around	around	ADV
cblr-1719	675	68	27	27	NUM
cblr-1719	675	69	%	%	NOUN
cblr-1719	675	70	in	in	ADP
cblr-1719	675	71	2007	2007	NUM
cblr-1719	675	72	,	,	PUNCT
cblr-1719	675	73	with	with	ADP
cblr-1719	675	74	an	an	DET
cblr-1719	675	75	average	average	ADJ
cblr-1719	675	76	growth	growth	NOUN
cblr-1719	675	77	of	of	ADP
cblr-1719	675	78	2.4	2.4	NUM
cblr-1719	675	79	%	%	NOUN
cblr-1719	675	80	each	each	DET
cblr-1719	675	81	year	year	NOUN
cblr-1719	675	82	from	from	ADP
cblr-1719	675	83	2003.229	2003.229	NUM
cblr-1719	675	84	it	it	PRON
cblr-1719	675	85	is	be	AUX
cblr-1719	675	86	expected	expect	VERB
cblr-1719	675	87	that	that	SCONJ
cblr-1719	675	88	institutional	institutional	ADJ
cblr-1719	675	89	investors	investor	NOUN
cblr-1719	675	90	,	,	PUNCT
cblr-1719	675	91	including	include	VERB
cblr-1719	675	92	pension	pension	NOUN
cblr-1719	675	93	funds	fund	NOUN
cblr-1719	675	94	,	,	PUNCT
cblr-1719	675	95	mutual	mutual	ADJ
cblr-1719	675	96	funds	fund	NOUN
cblr-1719	675	97	,	,	PUNCT
cblr-1719	675	98	and	and	CCONJ
cblr-1719	675	99	insurance	insurance	NOUN
cblr-1719	675	100	223	223	NUM
cblr-1719	675	101	recent	recent	ADJ
cblr-1719	675	102	studies	study	NOUN
cblr-1719	675	103	on	on	ADP
cblr-1719	675	104	u.k	u.k	PROPN
cblr-1719	675	105	.	.	PROPN
cblr-1719	675	106	corporate	corporate	ADJ
cblr-1719	675	107	acquisition	acquisition	NOUN
cblr-1719	675	108	voting	voting	NOUN
cblr-1719	675	109	also	also	ADV
cblr-1719	675	110	support	support	VERB
cblr-1719	675	111	the	the	DET
cblr-1719	675	112	positive	positive	ADJ
cblr-1719	675	113	impact	impact	NOUN
cblr-1719	675	114	of	of	ADP
cblr-1719	675	115	shareholder	shareholder	NOUN
cblr-1719	675	116	voting	vote	VERB
cblr-1719	675	117	on	on	ADP
cblr-1719	675	118	firm	firm	ADJ
cblr-1719	675	119	value	value	NOUN
cblr-1719	675	120	.	.	PUNCT
cblr-1719	676	1	see	see	VERB
cblr-1719	676	2	marco	marco	PROPN
cblr-1719	676	3	becht	becht	PROPN
cblr-1719	676	4	et	et	PROPN
cblr-1719	676	5	al	al	PROPN
cblr-1719	676	6	.	.	PROPN
cblr-1719	676	7	,	,	PUNCT
cblr-1719	676	8	does	do	AUX
cblr-1719	676	9	mandatory	mandatory	ADJ
cblr-1719	676	10	shareholder	shareholder	NOUN
cblr-1719	676	11	voting	voting	NOUN
cblr-1719	676	12	prevent	prevent	VERB
cblr-1719	676	13	bad	bad	ADJ
cblr-1719	676	14	acquisitions	acquisition	NOUN
cblr-1719	676	15	?	?	PUNCT
cblr-1719	676	16	,	,	PUNCT
cblr-1719	676	17	29	29	NUM
cblr-1719	676	18	rev	rev	VERB
cblr-1719	676	19	.	.	PROPN
cblr-1719	676	20	fin	fin	PROPN
cblr-1719	676	21	.	.	PUNCT
cblr-1719	676	22	stud	stud	PROPN
cblr-1719	676	23	.	.	PUNCT
cblr-1719	677	1	3035	3035	NUM
cblr-1719	677	2	,	,	PUNCT
cblr-1719	677	3	3035–36	3035–36	NUM
cblr-1719	677	4	.	.	PUNCT
cblr-1719	678	1	224	224	NUM
cblr-1719	678	2	reena	reena	PROPN
cblr-1719	678	3	aggarwal	aggarwal	PROPN
cblr-1719	678	4	et	et	PROPN
cblr-1719	678	5	al	al	PROPN
cblr-1719	678	6	.	.	PROPN
cblr-1719	678	7	,	,	PUNCT
cblr-1719	678	8	does	do	AUX
cblr-1719	678	9	governance	governance	NOUN
cblr-1719	678	10	travel	travel	VERB
cblr-1719	678	11	around	around	ADP
cblr-1719	678	12	the	the	DET
cblr-1719	678	13	world	world	NOUN
cblr-1719	678	14	?	?	PUNCT
cblr-1719	679	1	evidence	evidence	NOUN
cblr-1719	679	2	from	from	ADP
cblr-1719	679	3	institutional	institutional	ADJ
cblr-1719	679	4	investors	investor	NOUN
cblr-1719	679	5	,	,	PUNCT
cblr-1719	679	6	100	100	NUM
cblr-1719	679	7	j.	j.	PROPN
cblr-1719	679	8	fin	fin	PROPN
cblr-1719	679	9	.	.	PUNCT
cblr-1719	680	1	econ	econ	PROPN
cblr-1719	680	2	.	.	PUNCT
cblr-1719	681	1	154	154	NUM
cblr-1719	681	2	,	,	PUNCT
cblr-1719	681	3	154	154	NUM
cblr-1719	681	4	,	,	PUNCT
cblr-1719	681	5	167	167	NUM
cblr-1719	681	6	(	(	PUNCT
cblr-1719	681	7	2011	2011	NUM
cblr-1719	681	8	)	)	PUNCT
cblr-1719	681	9	;	;	PUNCT
cblr-1719	681	10	peter	peter	PROPN
cblr-1719	681	11	iliev	iliev	PROPN
cblr-1719	681	12	et	et	PROPN
cblr-1719	681	13	al	al	PROPN
cblr-1719	681	14	.	.	PROPN
cblr-1719	681	15	,	,	PUNCT
cblr-1719	681	16	shareholder	shareholder	NOUN
cblr-1719	681	17	voting	voting	NOUN
cblr-1719	681	18	and	and	CCONJ
cblr-1719	681	19	corporate	corporate	ADJ
cblr-1719	681	20	governance	governance	NOUN
cblr-1719	681	21	around	around	ADP
cblr-1719	681	22	the	the	DET
cblr-1719	681	23	world	world	NOUN
cblr-1719	681	24	,	,	PUNCT
cblr-1719	681	25	28	28	NUM
cblr-1719	681	26	rev	rev	X
cblr-1719	681	27	.	.	PROPN
cblr-1719	681	28	fin	fin	NOUN
cblr-1719	681	29	.	.	PUNCT
cblr-1719	681	30	stud	stud	PROPN
cblr-1719	681	31	.	.	PUNCT
cblr-1719	682	1	2167	2167	NUM
cblr-1719	682	2	,	,	PUNCT
cblr-1719	682	3	2168	2168	NUM
cblr-1719	682	4	(	(	PUNCT
cblr-1719	682	5	2015	2015	NUM
cblr-1719	682	6	)	)	PUNCT
cblr-1719	682	7	.	.	PUNCT
cblr-1719	683	1	225	225	NUM
cblr-1719	683	2	iliev	iliev	INTJ
cblr-1719	683	3	et	et	PROPN
cblr-1719	683	4	al	al	PROPN
cblr-1719	683	5	.	.	PROPN
cblr-1719	683	6	,	,	PUNCT
cblr-1719	683	7	supra	supra	PROPN
cblr-1719	683	8	note	note	VERB
cblr-1719	683	9	224	224	NUM
cblr-1719	683	10	at	at	ADP
cblr-1719	683	11	2168	2168	NUM
cblr-1719	683	12	,	,	PUNCT
cblr-1719	683	13	2170–71	2170–71	NOUN
cblr-1719	683	14	,	,	PUNCT
cblr-1719	683	15	2180	2180	NUM
cblr-1719	683	16	.	.	PUNCT
cblr-1719	684	1	226	226	NUM
cblr-1719	685	1	i	i	PRON
cblr-1719	685	2	d.	d.	NOUN
cblr-1719	685	3	at	at	ADP
cblr-1719	685	4	2188–96	2188–96	NUM
cblr-1719	685	5	.	.	PUNCT
cblr-1719	686	1	227	227	NUM
cblr-1719	686	2	ronald	ronald	PROPN
cblr-1719	686	3	j.	j.	PROPN
cblr-1719	686	4	gilson	gilson	PROPN
cblr-1719	686	5	&	&	CCONJ
cblr-1719	686	6	jeffrey	jeffrey	PROPN
cblr-1719	686	7	n.	n.	PROPN
cblr-1719	686	8	gordon	gordon	PROPN
cblr-1719	686	9	,	,	PUNCT
cblr-1719	686	10	the	the	DET
cblr-1719	686	11	agency	agency	NOUN
cblr-1719	686	12	costs	cost	NOUN
cblr-1719	686	13	of	of	ADP
cblr-1719	686	14	agency	agency	NOUN
cblr-1719	686	15	capitalism	capitalism	NOUN
cblr-1719	686	16	:	:	PUNCT
cblr-1719	686	17	activist	activist	ADJ
cblr-1719	686	18	investors	investor	NOUN
cblr-1719	686	19	and	and	CCONJ
cblr-1719	686	20	the	the	DET
cblr-1719	686	21	revaluation	revaluation	NOUN
cblr-1719	686	22	of	of	ADP
cblr-1719	686	23	governance	governance	NOUN
cblr-1719	686	24	rights	right	NOUN
cblr-1719	686	25	,	,	PUNCT
cblr-1719	686	26	113	113	NUM
cblr-1719	686	27	colum	colum	NOUN
cblr-1719	686	28	.	.	PUNCT
cblr-1719	687	1	l.	l.	PROPN
cblr-1719	687	2	rev	rev	PROPN
cblr-1719	687	3	.	.	PROPN
cblr-1719	687	4	863	863	NUM
cblr-1719	687	5	,	,	PUNCT
cblr-1719	687	6	874–75	874–75	PROPN
cblr-1719	687	7	(	(	PUNCT
cblr-1719	687	8	2013	2013	NUM
cblr-1719	687	9	)	)	PUNCT
cblr-1719	687	10	.	.	PUNCT
cblr-1719	688	1	228	228	NUM
cblr-1719	688	2	oecd	oecd	PROPN
cblr-1719	688	3	,	,	PUNCT
cblr-1719	688	4	the	the	DET
cblr-1719	688	5	role	role	NOUN
cblr-1719	688	6	of	of	ADP
cblr-1719	688	7	institutional	institutional	ADJ
cblr-1719	688	8	investors	investor	NOUN
cblr-1719	688	9	in	in	ADP
cblr-1719	688	10	promoting	promote	VERB
cblr-1719	688	11	good	good	ADJ
cblr-1719	688	12	corporate	corporate	ADJ
cblr-1719	688	13	governance	governance	NOUN
cblr-1719	688	14	20–21	20–21	NUM
cblr-1719	688	15	(	(	PUNCT
cblr-1719	688	16	2011	2011	NUM
cblr-1719	688	17	)	)	PUNCT
cblr-1719	688	18	.	.	PUNCT
cblr-1719	689	1	229	229	NUM
cblr-1719	689	2	aggarwal	aggarwal	NOUN
cblr-1719	689	3	et	et	NOUN
cblr-1719	689	4	al	al	PROPN
cblr-1719	689	5	.	.	PROPN
cblr-1719	689	6	,	,	PUNCT
cblr-1719	689	7	supra	supra	PROPN
cblr-1719	689	8	note	note	PROPN
cblr-1719	689	9	224	224	NUM
cblr-1719	689	10	,	,	PUNCT
cblr-1719	689	11	at	at	ADP
cblr-1719	689	12	159	159	NUM
cblr-1719	689	13	.	.	PUNCT
cblr-1719	690	1	lin	lin	PROPN
cblr-1719	690	2	–	–	PUNCT
cblr-1719	690	3	final	final	ADJ
cblr-1719	690	4	no	no	NOUN
cblr-1719	690	5	.	.	PUNCT
cblr-1719	690	6	2:453	2:453	NUM
cblr-1719	690	7	]	]	X
cblr-1719	690	8	controlling	control	VERB
cblr-1719	690	9	-	-	PUNCT
cblr-1719	690	10	minority	minority	NOUN
cblr-1719	690	11	shareholders	shareholder	NOUN
cblr-1719	690	12	507	507	NUM
cblr-1719	690	13	companies	company	NOUN
cblr-1719	690	14	,	,	PUNCT
cblr-1719	690	15	will	will	AUX
cblr-1719	690	16	play	play	VERB
cblr-1719	690	17	an	an	DET
cblr-1719	690	18	important	important	ADJ
cblr-1719	690	19	role	role	NOUN
cblr-1719	690	20	in	in	ADP
cblr-1719	690	21	constraining	constrain	VERB
cblr-1719	690	22	the	the	DET
cblr-1719	690	23	opportunistic	opportunistic	ADJ
cblr-1719	690	24	behavior	behavior	NOUN
cblr-1719	690	25	of	of	ADP
cblr-1719	690	26	controlling	control	VERB
cblr-1719	690	27	shareholders.230	shareholders.230	PROPN
cblr-1719	690	28	2	2	NUM
cblr-1719	690	29	.	.	PUNCT
cblr-1719	691	1	the	the	DET
cblr-1719	691	2	role	role	NOUN
cblr-1719	691	3	of	of	ADP
cblr-1719	691	4	institutional	institutional	ADJ
cblr-1719	691	5	shareholders	shareholder	NOUN
cblr-1719	691	6	and	and	CCONJ
cblr-1719	691	7	shareholder	shareholder	NOUN
cblr-1719	691	8	activism	activism	NOUN
cblr-1719	691	9	the	the	DET
cblr-1719	691	10	growth	growth	NOUN
cblr-1719	691	11	of	of	ADP
cblr-1719	691	12	institutional	institutional	ADJ
cblr-1719	691	13	ownership	ownership	NOUN
cblr-1719	691	14	does	do	AUX
cblr-1719	691	15	not	not	PART
cblr-1719	691	16	,	,	PUNCT
cblr-1719	691	17	in	in	ADP
cblr-1719	691	18	and	and	CCONJ
cblr-1719	691	19	of	of	ADP
cblr-1719	691	20	itself	itself	PRON
cblr-1719	691	21	,	,	PUNCT
cblr-1719	691	22	improve	improve	VERB
cblr-1719	691	23	the	the	DET
cblr-1719	691	24	corporate	corporate	ADJ
cblr-1719	691	25	governance	governance	NOUN
cblr-1719	691	26	of	of	ADP
cblr-1719	691	27	controlled	control	VERB
cblr-1719	691	28	firms	firm	NOUN
cblr-1719	691	29	.	.	PUNCT
cblr-1719	692	1	institutional	institutional	ADJ
cblr-1719	692	2	investors	investor	NOUN
cblr-1719	692	3	are	be	AUX
cblr-1719	692	4	usually	usually	ADV
cblr-1719	692	5	passive	passive	ADJ
cblr-1719	692	6	investors	investor	NOUN
cblr-1719	692	7	who	who	PRON
cblr-1719	692	8	tend	tend	VERB
cblr-1719	692	9	to	to	PART
cblr-1719	692	10	be	be	AUX
cblr-1719	692	11	silent	silent	ADJ
cblr-1719	692	12	on	on	ADP
cblr-1719	692	13	voting	vote	VERB
cblr-1719	692	14	.	.	PUNCT
cblr-1719	693	1	the	the	DET
cblr-1719	693	2	voting	voting	NOUN
cblr-1719	693	3	power	power	NOUN
cblr-1719	693	4	of	of	ADP
cblr-1719	693	5	institutional	institutional	ADJ
cblr-1719	693	6	investors	investor	NOUN
cblr-1719	693	7	only	only	ADV
cblr-1719	693	8	becomes	become	VERB
cblr-1719	693	9	influential	influential	ADJ
cblr-1719	693	10	when	when	SCONJ
cblr-1719	693	11	they	they	PRON
cblr-1719	693	12	are	be	AUX
cblr-1719	693	13	persuaded	persuade	VERB
cblr-1719	693	14	by	by	ADP
cblr-1719	693	15	activist	activist	ADJ
cblr-1719	693	16	shareholders	shareholder	NOUN
cblr-1719	693	17	or	or	CCONJ
cblr-1719	693	18	proxy	proxy	ADJ
cblr-1719	693	19	advisory	advisory	ADJ
cblr-1719	693	20	services	service	NOUN
cblr-1719	693	21	firms.231	firms.231	PROPN
cblr-1719	693	22	that	that	PRON
cblr-1719	693	23	is	be	AUX
cblr-1719	693	24	,	,	PUNCT
cblr-1719	693	25	shareholder	shareholder	NOUN
cblr-1719	693	26	activists	activist	NOUN
cblr-1719	693	27	propose	propose	VERB
cblr-1719	693	28	governance	governance	NOUN
cblr-1719	693	29	proposals	proposal	NOUN
cblr-1719	693	30	while	while	SCONJ
cblr-1719	693	31	institutional	institutional	ADJ
cblr-1719	693	32	investors	investor	NOUN
cblr-1719	693	33	evaluate	evaluate	VERB
cblr-1719	693	34	proposals	proposal	NOUN
cblr-1719	693	35	and	and	CCONJ
cblr-1719	693	36	decide	decide	VERB
cblr-1719	693	37	their	their	PRON
cblr-1719	693	38	voting	voting	NOUN
cblr-1719	693	39	strategies.232	strategies.232	NOUN
cblr-1719	693	40	such	such	ADJ
cblr-1719	693	41	cooperation	cooperation	NOUN
cblr-1719	693	42	has	have	AUX
cblr-1719	693	43	gained	gain	VERB
cblr-1719	693	44	prominence	prominence	NOUN
cblr-1719	693	45	and	and	CCONJ
cblr-1719	693	46	drastically	drastically	ADV
cblr-1719	693	47	changed	change	VERB
cblr-1719	693	48	the	the	DET
cblr-1719	693	49	landscape	landscape	NOUN
cblr-1719	693	50	of	of	ADP
cblr-1719	693	51	corporate	corporate	ADJ
cblr-1719	693	52	governance	governance	NOUN
cblr-1719	693	53	in	in	ADP
cblr-1719	693	54	recent	recent	ADJ
cblr-1719	693	55	years.233	years.233	NUM
cblr-1719	693	56	with	with	ADP
cblr-1719	693	57	the	the	DET
cblr-1719	693	58	assistance	assistance	NOUN
cblr-1719	693	59	of	of	ADP
cblr-1719	693	60	shareholder	shareholder	NOUN
cblr-1719	693	61	activists	activist	NOUN
cblr-1719	693	62	,	,	PUNCT
cblr-1719	693	63	institutional	institutional	ADJ
cblr-1719	693	64	investors	investor	NOUN
cblr-1719	693	65	are	be	AUX
cblr-1719	693	66	playing	play	VERB
cblr-1719	693	67	an	an	DET
cblr-1719	693	68	active	active	ADJ
cblr-1719	693	69	role	role	NOUN
cblr-1719	693	70	in	in	ADP
cblr-1719	693	71	policing	police	VERB
cblr-1719	693	72	corporations	corporation	NOUN
cblr-1719	693	73	and	and	CCONJ
cblr-1719	693	74	asking	ask	VERB
cblr-1719	693	75	for	for	ADP
cblr-1719	693	76	change	change	NOUN
cblr-1719	693	77	through	through	ADP
cblr-1719	693	78	shareholder	shareholder	NOUN
cblr-1719	693	79	proposals	proposal	NOUN
cblr-1719	693	80	to	to	PART
cblr-1719	693	81	declassify	declassify	VERB
cblr-1719	693	82	boards	board	NOUN
cblr-1719	693	83	and	and	CCONJ
cblr-1719	693	84	advocate	advocate	VERB
cblr-1719	693	85	for	for	ADP
cblr-1719	693	86	other	other	ADJ
cblr-1719	693	87	governance	governance	NOUN
cblr-1719	693	88	-	-	PUNCT
cblr-1719	693	89	related	relate	VERB
cblr-1719	693	90	changes.234	changes.234	NOUN
cblr-1719	693	91	the	the	DET
cblr-1719	693	92	common	common	ADJ
cblr-1719	693	93	view	view	NOUN
cblr-1719	693	94	is	be	AUX
cblr-1719	693	95	that	that	SCONJ
cblr-1719	693	96	staggered	staggered	ADJ
cblr-1719	693	97	boards	board	NOUN
cblr-1719	693	98	decrease	decrease	VERB
cblr-1719	693	99	shareholder	shareholder	NOUN
cblr-1719	693	100	value.235	value.235	NUM
cblr-1719	693	101	the	the	DET
cblr-1719	693	102	shareholder	shareholder	NOUN
cblr-1719	693	103	rights	right	NOUN
cblr-1719	693	104	project	project	NOUN
cblr-1719	693	105	at	at	ADP
cblr-1719	693	106	harvard	harvard	PROPN
cblr-1719	693	107	law	law	PROPN
cblr-1719	693	108	230	230	NUM
cblr-1719	693	109	oecd	oecd	NOUN
cblr-1719	693	110	,	,	PUNCT
cblr-1719	693	111	the	the	DET
cblr-1719	693	112	role	role	NOUN
cblr-1719	693	113	of	of	ADP
cblr-1719	693	114	institutional	institutional	ADJ
cblr-1719	693	115	investors	investor	NOUN
cblr-1719	693	116	in	in	ADP
cblr-1719	693	117	promoting	promote	VERB
cblr-1719	693	118	good	good	ADJ
cblr-1719	693	119	corporate	corporate	ADJ
cblr-1719	693	120	governance	governance	NOUN
cblr-1719	693	121	20–21	20–21	NUM
cblr-1719	693	122	(	(	PUNCT
cblr-1719	693	123	2011	2011	NUM
cblr-1719	693	124	)	)	PUNCT
cblr-1719	693	125	;	;	PUNCT
cblr-1719	693	126	gilson	gilson	PROPN
cblr-1719	693	127	,	,	PUNCT
cblr-1719	693	128	supra	supra	PROPN
cblr-1719	693	129	note	note	PROPN
cblr-1719	693	130	5	5	NUM
cblr-1719	693	131	,	,	PUNCT
cblr-1719	693	132	at	at	ADP
cblr-1719	693	133	108–12	108–12	NUM
cblr-1719	693	134	.	.	PUNCT
cblr-1719	693	135	231	231	NUM
cblr-1719	693	136	gilson	gilson	NOUN
cblr-1719	693	137	and	and	CCONJ
cblr-1719	693	138	gordon	gordon	PROPN
cblr-1719	693	139	described	describe	VERB
cblr-1719	693	140	the	the	DET
cblr-1719	693	141	attitude	attitude	NOUN
cblr-1719	693	142	as	as	ADP
cblr-1719	693	143	“	"	PUNCT
cblr-1719	693	144	rationally	rationally	ADV
cblr-1719	693	145	reticent	reticent	ADJ
cblr-1719	693	146	”	"	PUNCT
cblr-1719	693	147	—	—	PUNCT
cblr-1719	693	148	a	a	DET
cblr-1719	693	149	willingness	willingness	NOUN
cblr-1719	693	150	to	to	PART
cblr-1719	693	151	respond	respond	VERB
cblr-1719	693	152	to	to	ADP
cblr-1719	693	153	governance	governance	NOUN
cblr-1719	693	154	proposals	proposal	NOUN
cblr-1719	693	155	but	but	CCONJ
cblr-1719	693	156	not	not	PART
cblr-1719	693	157	to	to	PART
cblr-1719	693	158	propose	propose	VERB
cblr-1719	693	159	them	they	PRON
cblr-1719	693	160	.	.	PUNCT
cblr-1719	694	1	gilson	gilson	PROPN
cblr-1719	694	2	&	&	CCONJ
cblr-1719	694	3	gordon	gordon	PROPN
cblr-1719	694	4	,	,	PUNCT
cblr-1719	694	5	supra	supra	PROPN
cblr-1719	694	6	note	note	NOUN
cblr-1719	694	7	227	227	NUM
cblr-1719	694	8	,	,	PUNCT
cblr-1719	694	9	at	at	ADP
cblr-1719	694	10	895	895	NUM
cblr-1719	694	11	.	.	PUNCT
cblr-1719	694	12	232	232	NUM
cblr-1719	695	1	i	i	PRON
cblr-1719	695	2	d.	d.	PROPN
cblr-1719	695	3	at	at	ADP
cblr-1719	695	4	896–97	896–97	NUM
cblr-1719	695	5	.	.	PUNCT
cblr-1719	696	1	233	233	NUM
cblr-1719	696	2	see	see	VERB
cblr-1719	696	3	bebchuk	bebchuk	NOUN
cblr-1719	696	4	,	,	PUNCT
cblr-1719	696	5	supra	supra	PROPN
cblr-1719	696	6	note	note	PROPN
cblr-1719	696	7	138	138	NUM
cblr-1719	696	8	,	,	PUNCT
cblr-1719	696	9	18–22	18–22	NUM
cblr-1719	696	10	.	.	PUNCT
cblr-1719	696	11	234	234	NUM
cblr-1719	696	12	iss	iss	PROPN
cblr-1719	696	13	,	,	PUNCT
cblr-1719	696	14	iss	iss	PROPN
cblr-1719	696	15	2016	2016	NUM
cblr-1719	696	16	board	board	NOUN
cblr-1719	696	17	practices	practice	NOUN
cblr-1719	696	18	study	study	VERB
cblr-1719	696	19	,	,	PUNCT
cblr-1719	696	20	harv	harv	PROPN
cblr-1719	696	21	.	.	PUNCT
cblr-1719	697	1	l.	l.	PROPN
cblr-1719	697	2	sch	sch	PROPN
cblr-1719	697	3	.	.	PROPN
cblr-1719	697	4	f.	f.	PROPN
cblr-1719	697	5	corp	corp	PROPN
cblr-1719	697	6	.	.	PROPN
cblr-1719	697	7	governance	governance	PROPN
cblr-1719	697	8	&	&	CCONJ
cblr-1719	697	9	fin	fin	PROPN
cblr-1719	697	10	.	.	PUNCT
cblr-1719	698	1	reg	reg	PROPN
cblr-1719	698	2	.	.	PUNCT
cblr-1719	699	1	(	(	PUNCT
cblr-1719	699	2	june	june	PROPN
cblr-1719	699	3	1	1	NUM
cblr-1719	699	4	,	,	PUNCT
cblr-1719	699	5	2016	2016	NUM
cblr-1719	699	6	)	)	PUNCT
cblr-1719	699	7	,	,	PUNCT
cblr-1719	699	8	https://corpgov.law.harvard.edu/	https://corpgov.law.harvard.edu/	NOUN
cblr-1719	699	9	2016/06/01	2016/06/01	NUM
cblr-1719	699	10	/	/	SYM
cblr-1719	699	11	iss-2016	iss-2016	ADJ
cblr-1719	699	12	-	-	PUNCT
cblr-1719	699	13	board	board	NOUN
cblr-1719	699	14	-	-	PUNCT
cblr-1719	699	15	practices	practice	NOUN
cblr-1719	699	16	-	-	PUNCT
cblr-1719	699	17	study/	study/	NUM
cblr-1719	700	1	[	[	X
cblr-1719	700	2	https://perma.cc/mg8c-nj2x	https://perma.cc/mg8c-nj2x	NOUN
cblr-1719	700	3	]	]	X
cblr-1719	700	4	.	.	PUNCT
cblr-1719	701	1	235	235	NUM
cblr-1719	701	2	bebchuk	bebchuk	NOUN
cblr-1719	701	3	,	,	PUNCT
cblr-1719	701	4	cohen	cohen	PROPN
cblr-1719	701	5	&	&	CCONJ
cblr-1719	701	6	ferrell	ferrell	PROPN
cblr-1719	701	7	,	,	PUNCT
cblr-1719	701	8	supra	supra	PROPN
cblr-1719	701	9	note	note	NOUN
cblr-1719	701	10	220	220	NUM
cblr-1719	701	11	,	,	PUNCT
cblr-1719	701	12	at	at	ADP
cblr-1719	701	13	784–85	784–85	NOUN
cblr-1719	701	14	(	(	PUNCT
cblr-1719	701	15	finding	find	VERB
cblr-1719	701	16	six	six	NUM
cblr-1719	701	17	measures	measure	NOUN
cblr-1719	701	18	,	,	PUNCT
cblr-1719	701	19	including	include	VERB
cblr-1719	701	20	staggered	staggered	ADJ
cblr-1719	701	21	boards	board	NOUN
cblr-1719	701	22	,	,	PUNCT
cblr-1719	701	23	limits	limit	VERB
cblr-1719	701	24	to	to	ADP
cblr-1719	701	25	shareholder	shareholder	NOUN
cblr-1719	701	26	bylaw	bylaw	NOUN
cblr-1719	701	27	amendments	amendment	NOUN
cblr-1719	701	28	,	,	PUNCT
cblr-1719	701	29	poison	poison	NOUN
cblr-1719	701	30	pills	pill	NOUN
cblr-1719	701	31	,	,	PUNCT
cblr-1719	701	32	golden	golden	ADJ
cblr-1719	701	33	parachutes	parachute	NOUN
cblr-1719	701	34	,	,	PUNCT
cblr-1719	701	35	and	and	CCONJ
cblr-1719	701	36	supermajority	supermajority	NOUN
cblr-1719	701	37	requirements	requirement	NOUN
cblr-1719	701	38	for	for	ADP
cblr-1719	701	39	mergers	merger	NOUN
cblr-1719	701	40	and	and	CCONJ
cblr-1719	701	41	charter	charter	NOUN
cblr-1719	701	42	amendments	amendment	NOUN
cblr-1719	701	43	,	,	PUNCT
cblr-1719	701	44	are	be	AUX
cblr-1719	701	45	correlated	correlate	VERB
cblr-1719	701	46	with	with	ADP
cblr-1719	701	47	negative	negative	ADJ
cblr-1719	701	48	firm	firm	ADJ
cblr-1719	701	49	value	value	NOUN
cblr-1719	701	50	)	)	PUNCT
cblr-1719	701	51	.	.	PUNCT
cblr-1719	702	1	later	later	ADV
cblr-1719	702	2	,	,	PUNCT
cblr-1719	702	3	bebchuk	bebchuk	PROPN
cblr-1719	702	4	,	,	PUNCT
cblr-1719	702	5	cohen	cohen	PROPN
cblr-1719	702	6	,	,	PUNCT
cblr-1719	702	7	and	and	CCONJ
cblr-1719	702	8	wang	wang	PROPN
cblr-1719	702	9	further	far	ADV
cblr-1719	702	10	focused	focus	VERB
cblr-1719	702	11	on	on	ADP
cblr-1719	702	12	the	the	DET
cblr-1719	702	13	effect	effect	NOUN
cblr-1719	702	14	of	of	ADP
cblr-1719	702	15	staggered	staggered	ADJ
cblr-1719	702	16	boards	board	NOUN
cblr-1719	702	17	and	and	CCONJ
cblr-1719	702	18	found	find	VERB
cblr-1719	702	19	that	that	SCONJ
cblr-1719	702	20	staggered	staggered	ADJ
cblr-1719	702	21	boards	board	NOUN
cblr-1719	702	22	were	be	AUX
cblr-1719	702	23	associated	associate	VERB
cblr-1719	702	24	with	with	ADP
cblr-1719	702	25	statistically	statistically	ADV
cblr-1719	702	26	significant	significant	ADJ
cblr-1719	702	27	reduction	reduction	NOUN
cblr-1719	702	28	in	in	ADP
cblr-1719	702	29	firm	firm	ADJ
cblr-1719	702	30	value	value	NOUN
cblr-1719	702	31	.	.	PUNCT
cblr-1719	703	1	see	see	VERB
cblr-1719	703	2	alma	alma	PROPN
cblr-1719	703	3	cohen	cohen	PROPN
cblr-1719	703	4	&	&	CCONJ
cblr-1719	703	5	charles	charles	PROPN
cblr-1719	703	6	c.y	c.y	PROPN
cblr-1719	703	7	.	.	PROPN
cblr-1719	703	8	wang	wang	PROPN
cblr-1719	703	9	,	,	PUNCT
cblr-1719	703	10	how	how	SCONJ
cblr-1719	703	11	do	do	AUX
cblr-1719	703	12	staggered	stagger	VERB
cblr-1719	703	13	boards	board	NOUN
cblr-1719	703	14	affect	affect	VERB
cblr-1719	703	15	shareholder	shareholder	NOUN
cblr-1719	703	16	lin	lin	PROPN
cblr-1719	703	17	–	–	PUNCT
cblr-1719	704	1	final	final	ADJ
cblr-1719	704	2	508	508	NUM
cblr-1719	704	3	columbia	columbia	PROPN
cblr-1719	704	4	business	business	NOUN
cblr-1719	704	5	law	law	NOUN
cblr-1719	704	6	review	review	NOUN
cblr-1719	704	7	[	[	X
cblr-1719	704	8	vol	vol	NOUN
cblr-1719	704	9	.	.	NOUN
cblr-1719	705	1	2017	2017	NUM
cblr-1719	705	2	school	school	NOUN
cblr-1719	705	3	has	have	AUX
cblr-1719	705	4	worked	work	VERB
cblr-1719	705	5	with	with	ADP
cblr-1719	705	6	institutional	institutional	ADJ
cblr-1719	705	7	investors	investor	NOUN
cblr-1719	705	8	since	since	SCONJ
cblr-1719	705	9	2012	2012	NUM
cblr-1719	705	10	to	to	PART
cblr-1719	705	11	bring	bring	VERB
cblr-1719	705	12	shareholder	shareholder	NOUN
cblr-1719	705	13	proposals	proposal	NOUN
cblr-1719	705	14	for	for	ADP
cblr-1719	705	15	de	de	ADJ
cblr-1719	705	16	-	-	ADJ
cblr-1719	705	17	staggering	staggering	ADJ
cblr-1719	705	18	boards	board	NOUN
cblr-1719	705	19	to	to	ADP
cblr-1719	705	20	s&p	s&p	PROPN
cblr-1719	705	21	500	500	NUM
cblr-1719	705	22	and	and	CCONJ
cblr-1719	705	23	fortune	fortune	NOUN
cblr-1719	705	24	500	500	NUM
cblr-1719	705	25	companies	company	NOUN
cblr-1719	705	26	.	.	PUNCT
cblr-1719	706	1	from	from	ADP
cblr-1719	706	2	2012	2012	NUM
cblr-1719	706	3	to	to	ADP
cblr-1719	706	4	2015	2015	NUM
cblr-1719	706	5	,	,	PUNCT
cblr-1719	706	6	102	102	NUM
cblr-1719	706	7	s&p	s&p	PROPN
cblr-1719	706	8	500	500	NUM
cblr-1719	706	9	and	and	CCONJ
cblr-1719	706	10	fortune	fortune	NOUN
cblr-1719	706	11	500	500	NUM
cblr-1719	706	12	companies	company	NOUN
cblr-1719	706	13	declassified	declassify	VERB
cblr-1719	706	14	their	their	PRON
cblr-1719	706	15	boards	board	NOUN
cblr-1719	706	16	as	as	ADP
cblr-1719	706	17	a	a	DET
cblr-1719	706	18	result	result	NOUN
cblr-1719	706	19	of	of	ADP
cblr-1719	706	20	shareholder	shareholder	NOUN
cblr-1719	706	21	actions.236	actions.236	PROPN
cblr-1719	706	22	the	the	DET
cblr-1719	706	23	shareholder	shareholder	NOUN
cblr-1719	706	24	empowerment	empowerment	NOUN
cblr-1719	706	25	movement	movement	NOUN
cblr-1719	706	26	began	begin	VERB
cblr-1719	706	27	to	to	PART
cblr-1719	706	28	change	change	VERB
cblr-1719	706	29	the	the	DET
cblr-1719	706	30	dynamics	dynamic	NOUN
cblr-1719	706	31	of	of	ADP
cblr-1719	706	32	corporate	corporate	ADJ
cblr-1719	706	33	powers	power	NOUN
cblr-1719	706	34	in	in	ADP
cblr-1719	706	35	the	the	DET
cblr-1719	706	36	1980s	1980	NOUN
cblr-1719	706	37	when	when	SCONJ
cblr-1719	706	38	many	many	ADJ
cblr-1719	706	39	large	large	ADJ
cblr-1719	706	40	companies	company	NOUN
cblr-1719	706	41	adopted	adopt	VERB
cblr-1719	706	42	protective	protective	ADJ
cblr-1719	706	43	measures	measure	NOUN
cblr-1719	706	44	in	in	ADP
cblr-1719	706	45	response	response	NOUN
cblr-1719	706	46	to	to	ADP
cblr-1719	706	47	an	an	DET
cblr-1719	706	48	active	active	ADJ
cblr-1719	706	49	takeover	takeover	NOUN
cblr-1719	706	50	market.237	market.237	NOUN
cblr-1719	706	51	the	the	DET
cblr-1719	706	52	percentage	percentage	NOUN
cblr-1719	706	53	of	of	ADP
cblr-1719	706	54	s&p	s&p	PROPN
cblr-1719	706	55	500	500	NUM
cblr-1719	706	56	companies	company	NOUN
cblr-1719	706	57	that	that	PRON
cblr-1719	706	58	have	have	AUX
cblr-1719	706	59	classified	classified	ADJ
cblr-1719	706	60	boards	board	NOUN
cblr-1719	706	61	drastically	drastically	ADV
cblr-1719	706	62	decreased	decrease	VERB
cblr-1719	706	63	from	from	ADP
cblr-1719	706	64	45	45	NUM
cblr-1719	706	65	%	%	NOUN
cblr-1719	706	66	in	in	ADP
cblr-1719	706	67	2004	2004	NUM
cblr-1719	706	68	to	to	ADP
cblr-1719	706	69	7	7	NUM
cblr-1719	706	70	%	%	NOUN
cblr-1719	706	71	in	in	ADP
cblr-1719	706	72	2014.238	2014.238	NUM
cblr-1719	706	73	u.s	u.s	PROPN
cblr-1719	706	74	.	.	PROPN
cblr-1719	706	75	hedge	hedge	PROPN
cblr-1719	706	76	fund	fund	NOUN
cblr-1719	706	77	activists	activist	NOUN
cblr-1719	706	78	are	be	AUX
cblr-1719	706	79	not	not	PART
cblr-1719	706	80	only	only	ADV
cblr-1719	706	81	active	active	ADJ
cblr-1719	706	82	in	in	ADP
cblr-1719	706	83	policing	police	VERB
cblr-1719	706	84	firms	firm	NOUN
cblr-1719	706	85	with	with	ADP
cblr-1719	706	86	dispersed	disperse	VERB
cblr-1719	706	87	corporate	corporate	ADJ
cblr-1719	706	88	ownership	ownership	NOUN
cblr-1719	706	89	,	,	PUNCT
cblr-1719	706	90	but	but	CCONJ
cblr-1719	706	91	also	also	ADV
cblr-1719	706	92	go	go	VERB
cblr-1719	706	93	after	after	ADP
cblr-1719	706	94	controlled	control	VERB
cblr-1719	706	95	firms	firm	NOUN
cblr-1719	706	96	.	.	PUNCT
cblr-1719	707	1	with	with	ADP
cblr-1719	707	2	proper	proper	ADJ
cblr-1719	707	3	legal	legal	ADJ
cblr-1719	707	4	tools	tool	NOUN
cblr-1719	707	5	,	,	PUNCT
cblr-1719	707	6	such	such	ADJ
cblr-1719	707	7	as	as	ADP
cblr-1719	707	8	the	the	DET
cblr-1719	707	9	right	right	NOUN
cblr-1719	707	10	to	to	PART
cblr-1719	707	11	nominate	nominate	VERB
cblr-1719	707	12	and	and	CCONJ
cblr-1719	707	13	elect	elect	VERB
cblr-1719	707	14	minority	minority	NOUN
cblr-1719	707	15	directors	director	NOUN
cblr-1719	707	16	,	,	PUNCT
cblr-1719	707	17	activists	activist	NOUN
cblr-1719	707	18	are	be	AUX
cblr-1719	707	19	able	able	ADJ
cblr-1719	707	20	to	to	PART
cblr-1719	707	21	exert	exert	VERB
cblr-1719	707	22	effective	effective	ADJ
cblr-1719	707	23	influence	influence	NOUN
cblr-1719	707	24	even	even	ADV
cblr-1719	707	25	in	in	ADP
cblr-1719	707	26	a	a	DET
cblr-1719	707	27	dualclass	dualclass	NOUN
cblr-1719	707	28	firm	firm	NOUN
cblr-1719	707	29	with	with	ADP
cblr-1719	707	30	the	the	DET
cblr-1719	707	31	presence	presence	NOUN
cblr-1719	707	32	of	of	ADP
cblr-1719	707	33	a	a	DET
cblr-1719	707	34	controlling	control	VERB
cblr-1719	707	35	-	-	PUNCT
cblr-1719	707	36	minority	minority	NOUN
cblr-1719	707	37	shareholder	shareholder	NOUN
cblr-1719	707	38	.	.	PUNCT
cblr-1719	708	1	239	239	NUM
cblr-1719	708	2	a	a	DET
cblr-1719	708	3	survey	survey	NOUN
cblr-1719	708	4	of	of	ADP
cblr-1719	708	5	interventions	intervention	NOUN
cblr-1719	708	6	by	by	ADP
cblr-1719	708	7	hedge	hedge	NOUN
cblr-1719	708	8	fund	fund	NOUN
cblr-1719	708	9	activists	activist	NOUN
cblr-1719	708	10	in	in	ADP
cblr-1719	708	11	europe	europe	PROPN
cblr-1719	708	12	reports	report	VERB
cblr-1719	708	13	a	a	DET
cblr-1719	708	14	positive	positive	ADJ
cblr-1719	708	15	increase	increase	NOUN
cblr-1719	708	16	in	in	ADP
cblr-1719	708	17	the	the	DET
cblr-1719	708	18	value	value	NOUN
cblr-1719	708	19	?	?	PUNCT
cblr-1719	709	1	evidence	evidence	NOUN
cblr-1719	709	2	from	from	ADP
cblr-1719	709	3	a	a	DET
cblr-1719	709	4	natural	natural	ADJ
cblr-1719	709	5	experiment	experiment	NOUN
cblr-1719	709	6	,	,	PUNCT
cblr-1719	709	7	110	110	NUM
cblr-1719	709	8	j.	j.	PROPN
cblr-1719	709	9	fin	fin	PROPN
cblr-1719	709	10	.	.	PUNCT
cblr-1719	710	1	econ	econ	PROPN
cblr-1719	710	2	.	.	PUNCT
cblr-1719	711	1	627	627	NUM
cblr-1719	711	2	,	,	PUNCT
cblr-1719	711	3	627	627	NUM
cblr-1719	711	4	(	(	PUNCT
cblr-1719	711	5	2013	2013	NUM
cblr-1719	711	6	)	)	PUNCT
cblr-1719	711	7	;	;	PUNCT
cblr-1719	712	1	lucian	lucian	PROPN
cblr-1719	712	2	a.	a.	PROPN
cblr-1719	712	3	bebchuk	bebchuk	PROPN
cblr-1719	712	4	&	&	CCONJ
cblr-1719	712	5	alma	alma	PROPN
cblr-1719	712	6	cohen	cohen	PROPN
cblr-1719	712	7	,	,	PUNCT
cblr-1719	712	8	the	the	DET
cblr-1719	712	9	costs	cost	NOUN
cblr-1719	712	10	of	of	ADP
cblr-1719	712	11	entrenched	entrenched	ADJ
cblr-1719	712	12	boards	board	NOUN
cblr-1719	712	13	,	,	PUNCT
cblr-1719	712	14	78	78	NUM
cblr-1719	712	15	j.	j.	PROPN
cblr-1719	712	16	fin	fin	PROPN
cblr-1719	712	17	.	.	PUNCT
cblr-1719	712	18	econ	econ	PROPN
cblr-1719	712	19	.	.	PUNCT
cblr-1719	712	20	409	409	NUM
cblr-1719	712	21	,	,	PUNCT
cblr-1719	712	22	409	409	NUM
cblr-1719	712	23	(	(	PUNCT
cblr-1719	712	24	2005	2005	NUM
cblr-1719	712	25	)	)	PUNCT
cblr-1719	712	26	;	;	PUNCT
cblr-1719	712	27	see	see	VERB
cblr-1719	712	28	also	also	ADV
cblr-1719	712	29	cremers	cremer	NOUN
cblr-1719	712	30	&	&	CCONJ
cblr-1719	712	31	sepe	sepe	PROPN
cblr-1719	712	32	,	,	PUNCT
cblr-1719	712	33	supra	supra	PROPN
cblr-1719	712	34	note	note	PROPN
cblr-1719	712	35	80	80	NUM
cblr-1719	712	36	,	,	PUNCT
cblr-1719	712	37	at	at	ADP
cblr-1719	712	38	67	67	NUM
cblr-1719	712	39	(	(	PUNCT
cblr-1719	712	40	finding	find	VERB
cblr-1719	712	41	staggered	staggered	ADJ
cblr-1719	712	42	boards	board	NOUN
cblr-1719	712	43	are	be	AUX
cblr-1719	712	44	positively	positively	ADV
cblr-1719	712	45	correlated	correlate	VERB
cblr-1719	712	46	with	with	ADP
cblr-1719	712	47	firm	firm	ADJ
cblr-1719	712	48	value	value	NOUN
cblr-1719	712	49	)	)	PUNCT
cblr-1719	712	50	;	;	PUNCT
cblr-1719	712	51	cremers	cremer	NOUN
cblr-1719	712	52	et	et	PROPN
cblr-1719	712	53	al	al	PROPN
cblr-1719	712	54	.	.	PROPN
cblr-1719	712	55	,	,	PUNCT
cblr-1719	712	56	supra	supra	PROPN
cblr-1719	712	57	note	note	VERB
cblr-1719	712	58	222	222	NUM
cblr-1719	712	59	at	at	ADP
cblr-1719	712	60	727	727	NUM
cblr-1719	712	61	(	(	PUNCT
cblr-1719	712	62	finding	find	VERB
cblr-1719	712	63	shareholder	shareholder	NOUN
cblr-1719	712	64	approved	approve	VERB
cblr-1719	712	65	anti	anti	ADJ
cblr-1719	712	66	-	-	ADJ
cblr-1719	712	67	takeover	takeover	ADJ
cblr-1719	712	68	measures	measure	NOUN
cblr-1719	712	69	,	,	PUNCT
cblr-1719	712	70	including	include	VERB
cblr-1719	712	71	staggered	staggered	ADJ
cblr-1719	712	72	boards	board	NOUN
cblr-1719	712	73	,	,	PUNCT
cblr-1719	712	74	are	be	AUX
cblr-1719	712	75	positively	positively	ADV
cblr-1719	712	76	correlated	correlate	VERB
cblr-1719	712	77	with	with	ADP
cblr-1719	712	78	firm	firm	ADJ
cblr-1719	712	79	value	value	NOUN
cblr-1719	712	80	)	)	PUNCT
cblr-1719	712	81	.	.	PUNCT
cblr-1719	713	1	236	236	NUM
cblr-1719	713	2	declassifications	declassification	NOUN
cblr-1719	713	3	,	,	PUNCT
cblr-1719	713	4	shareholder	shareholder	NOUN
cblr-1719	713	5	rights	right	NOUN
cblr-1719	713	6	project	project	NOUN
cblr-1719	713	7	,	,	PUNCT
cblr-1719	713	8	http://www.srp.law.harvard.edu/declassifications.shtml	http://www.srp.law.harvard.edu/declassifications.shtml	PUNCT
cblr-1719	714	1	[	[	X
cblr-1719	714	2	https://perma.cc/	https://perma.cc/	VERB
cblr-1719	714	3	8qz3	8qz3	NUM
cblr-1719	714	4	-	-	PUNCT
cblr-1719	714	5	39nq	39nq	NOUN
cblr-1719	714	6	]	]	PUNCT
cblr-1719	714	7	(	(	PUNCT
cblr-1719	714	8	last	last	ADJ
cblr-1719	714	9	visited	visit	VERB
cblr-1719	714	10	feb	feb	PROPN
cblr-1719	714	11	.	.	PROPN
cblr-1719	714	12	17	17	NUM
cblr-1719	714	13	,	,	PUNCT
cblr-1719	714	14	2017	2017	NUM
cblr-1719	714	15	)	)	PUNCT
cblr-1719	714	16	.	.	PUNCT
cblr-1719	715	1	237	237	NUM
cblr-1719	715	2	harwell	harwell	PROPN
cblr-1719	715	3	wells	wells	PROPN
cblr-1719	715	4	,	,	PUNCT
cblr-1719	715	5	shareholder	shareholder	NOUN
cblr-1719	715	6	power	power	NOUN
cblr-1719	715	7	in	in	ADP
cblr-1719	715	8	america	america	PROPN
cblr-1719	715	9	,	,	PUNCT
cblr-1719	715	10	1800	1800	NUM
cblr-1719	715	11	-	-	SYM
cblr-1719	715	12	2000	2000	NUM
cblr-1719	715	13	:	:	PUNCT
cblr-1719	715	14	a	a	DET
cblr-1719	715	15	short	short	ADJ
cblr-1719	715	16	history	history	NOUN
cblr-1719	715	17	,	,	PUNCT
cblr-1719	715	18	in	in	ADP
cblr-1719	715	19	research	research	NOUN
cblr-1719	715	20	handbook	handbook	NOUN
cblr-1719	715	21	on	on	ADP
cblr-1719	715	22	shareholder	shareholder	NOUN
cblr-1719	715	23	power	power	NOUN
cblr-1719	715	24	13	13	NUM
cblr-1719	715	25	,	,	PUNCT
cblr-1719	715	26	24	24	NUM
cblr-1719	715	27	(	(	PUNCT
cblr-1719	715	28	2015	2015	NUM
cblr-1719	715	29	)	)	PUNCT
cblr-1719	715	30	.	.	PUNCT
cblr-1719	716	1	238	238	NUM
cblr-1719	716	2	spencer	spencer	PROPN
cblr-1719	716	3	stuart	stuart	PROPN
cblr-1719	716	4	,	,	PUNCT
cblr-1719	716	5	spencer	spencer	PROPN
cblr-1719	716	6	stuart	stuart	PROPN
cblr-1719	716	7	2014	2014	NUM
cblr-1719	716	8	u.s	u.s	PROPN
cblr-1719	716	9	.	.	PROPN
cblr-1719	716	10	board	board	PROPN
cblr-1719	716	11	index	index	NOUN
cblr-1719	716	12	7	7	NUM
cblr-1719	716	13	,	,	PUNCT
cblr-1719	716	14	https://www.spencerstuart.com/~/media/pdf%20files/research%20and%20i	https://www.spencerstuart.com/~/media/pdf%20files/research%20and%20i	NOUN
cblr-1719	716	15	nsight%20pdfs	nsight%20pdfs	AUX
cblr-1719	716	16	/	/	SYM
cblr-1719	716	17	ssbi2014web14nov2014.pdf%20target	ssbi2014web14nov2014.pdf%20target	NOUN
cblr-1719	717	1	[	[	X
cblr-1719	717	2	https://perma.cc/	https://perma.cc/	PROPN
cblr-1719	717	3	7cvv-25pa	7cvv-25pa	NUM
cblr-1719	717	4	]	]	PUNCT
cblr-1719	717	5	.	.	PUNCT
cblr-1719	718	1	239	239	NUM
cblr-1719	718	2	other	other	ADJ
cblr-1719	718	3	legal	legal	ADJ
cblr-1719	718	4	tools	tool	NOUN
cblr-1719	718	5	include	include	VERB
cblr-1719	718	6	majority	majority	NOUN
cblr-1719	718	7	of	of	ADP
cblr-1719	718	8	minority	minority	NOUN
cblr-1719	718	9	shareholder	shareholder	NOUN
cblr-1719	718	10	approval	approval	NOUN
cblr-1719	718	11	in	in	ADP
cblr-1719	718	12	a	a	DET
cblr-1719	718	13	going	go	VERB
cblr-1719	718	14	-	-	PUNCT
cblr-1719	718	15	private	private	ADJ
cblr-1719	718	16	transaction	transaction	NOUN
cblr-1719	718	17	and	and	CCONJ
cblr-1719	718	18	shareholder	shareholder	NOUN
cblr-1719	718	19	litigation	litigation	NOUN
cblr-1719	718	20	.	.	PUNCT
cblr-1719	719	1	see	see	VERB
cblr-1719	719	2	kobi	kobi	PROPN
cblr-1719	719	3	kastiel	kastiel	PROPN
cblr-1719	719	4	,	,	PUNCT
cblr-1719	719	5	against	against	ADP
cblr-1719	719	6	all	all	DET
cblr-1719	719	7	odds	odd	NOUN
cblr-1719	719	8	:	:	PUNCT
cblr-1719	719	9	hedge	hedge	NOUN
cblr-1719	719	10	fund	fund	NOUN
cblr-1719	719	11	activism	activism	NOUN
cblr-1719	719	12	in	in	ADP
cblr-1719	719	13	controlled	control	VERB
cblr-1719	719	14	companies	company	NOUN
cblr-1719	719	15	,	,	PUNCT
cblr-1719	719	16	2016	2016	NUM
cblr-1719	719	17	colum	colum	NOUN
cblr-1719	719	18	.	.	PUNCT
cblr-1719	720	1	bus	bus	NOUN
cblr-1719	720	2	.	.	PUNCT
cblr-1719	721	1	l.	l.	PROPN
cblr-1719	721	2	rev	rev	PROPN
cblr-1719	721	3	.	.	PROPN
cblr-1719	721	4	60	60	NUM
cblr-1719	721	5	,	,	PUNCT
cblr-1719	721	6	90–103	90–103	NUM
cblr-1719	721	7	(	(	PUNCT
cblr-1719	721	8	2016	2016	NUM
cblr-1719	721	9	)	)	PUNCT
cblr-1719	721	10	.	.	PUNCT
cblr-1719	722	1	empirical	empirical	ADJ
cblr-1719	722	2	research	research	NOUN
cblr-1719	722	3	shows	show	VERB
cblr-1719	722	4	that	that	SCONJ
cblr-1719	722	5	minority	minority	NOUN
cblr-1719	722	6	shareholders	shareholder	NOUN
cblr-1719	722	7	receive	receive	VERB
cblr-1719	722	8	lower	low	ADJ
cblr-1719	722	9	merger	merger	NOUN
cblr-1719	722	10	consideration	consideration	NOUN
cblr-1719	722	11	when	when	SCONJ
cblr-1719	722	12	controllers	controller	NOUN
cblr-1719	722	13	do	do	AUX
cblr-1719	722	14	not	not	PART
cblr-1719	722	15	have	have	VERB
cblr-1719	722	16	to	to	PART
cblr-1719	722	17	seek	seek	VERB
cblr-1719	722	18	the	the	DET
cblr-1719	722	19	approval	approval	NOUN
cblr-1719	722	20	of	of	ADP
cblr-1719	722	21	majority	majority	NOUN
cblr-1719	722	22	of	of	ADP
cblr-1719	722	23	minority	minority	NOUN
cblr-1719	722	24	shareholders	shareholder	NOUN
cblr-1719	722	25	or	or	CCONJ
cblr-1719	722	26	of	of	ADP
cblr-1719	722	27	an	an	DET
cblr-1719	722	28	independent	independent	ADJ
cblr-1719	722	29	board	board	NOUN
cblr-1719	722	30	committee	committee	NOUN
cblr-1719	722	31	.	.	PUNCT
cblr-1719	723	1	see	see	VERB
cblr-1719	723	2	guhan	guhan	PROPN
cblr-1719	723	3	subramanian	subramanian	PROPN
cblr-1719	723	4	,	,	PUNCT
cblr-1719	723	5	post	post	ADJ
cblr-1719	723	6	-	-	ADJ
cblr-1719	723	7	siliconix	siliconix	ADJ
cblr-1719	723	8	freeze	freeze	NOUN
cblr-1719	723	9	-	-	PUNCT
cblr-1719	723	10	outs	out	NOUN
cblr-1719	723	11	:	:	PUNCT
cblr-1719	723	12	theory	theory	NOUN
cblr-1719	723	13	and	and	CCONJ
cblr-1719	723	14	evidence	evidence	NOUN
cblr-1719	723	15	,	,	PUNCT
cblr-1719	723	16	36	36	NUM
cblr-1719	723	17	j.	j.	PROPN
cblr-1719	723	18	leg	leg	PROPN
cblr-1719	723	19	.	.	PUNCT
cblr-1719	723	20	stud	stud	PROPN
cblr-1719	723	21	.	.	PUNCT
cblr-1719	724	1	1	1	NUM
cblr-1719	724	2	,	,	PUNCT
cblr-1719	724	3	14–18	14–18	NUM
cblr-1719	724	4	(	(	PUNCT
cblr-1719	724	5	2007	2007	NUM
cblr-1719	724	6	)	)	PUNCT
cblr-1719	724	7	.	.	PUNCT
cblr-1719	725	1	lin	lin	PROPN
cblr-1719	725	2	–	–	PUNCT
cblr-1719	725	3	final	final	ADJ
cblr-1719	725	4	no	no	NOUN
cblr-1719	725	5	.	.	PUNCT
cblr-1719	726	1	2:453	2:453	NUM
cblr-1719	726	2	]	]	X
cblr-1719	726	3	controlling	control	VERB
cblr-1719	726	4	-	-	PUNCT
cblr-1719	726	5	minority	minority	NOUN
cblr-1719	726	6	shareholders	shareholder	NOUN
cblr-1719	726	7	509	509	NUM
cblr-1719	726	8	shareholder	shareholder	NOUN
cblr-1719	726	9	value	value	NOUN
cblr-1719	726	10	of	of	ADP
cblr-1719	726	11	target	target	NOUN
cblr-1719	726	12	firms	firm	NOUN
cblr-1719	726	13	and	and	CCONJ
cblr-1719	726	14	further	far	ADV
cblr-1719	726	15	supports	support	VERB
cblr-1719	726	16	the	the	DET
cblr-1719	726	17	notion	notion	NOUN
cblr-1719	726	18	that	that	SCONJ
cblr-1719	726	19	shareholder	shareholder	NOUN
cblr-1719	726	20	participation	participation	NOUN
cblr-1719	726	21	creates	create	VERB
cblr-1719	726	22	value	value	NOUN
cblr-1719	726	23	for	for	ADP
cblr-1719	726	24	the	the	DET
cblr-1719	726	25	firm.240	firm.240	NOUN
cblr-1719	726	26	this	this	DET
cblr-1719	726	27	article	article	NOUN
cblr-1719	726	28	thus	thus	ADV
cblr-1719	726	29	argues	argue	VERB
cblr-1719	726	30	that	that	SCONJ
cblr-1719	726	31	proxy	proxy	ADJ
cblr-1719	726	32	advisory	advisory	ADJ
cblr-1719	726	33	firms	firm	NOUN
cblr-1719	726	34	and	and	CCONJ
cblr-1719	726	35	shareholder	shareholder	NOUN
cblr-1719	726	36	activists	activist	NOUN
cblr-1719	726	37	should	should	AUX
cblr-1719	726	38	also	also	ADV
cblr-1719	726	39	include	include	VERB
cblr-1719	726	40	leveraged	leveraged	ADJ
cblr-1719	726	41	control	control	NOUN
cblr-1719	726	42	devices	device	NOUN
cblr-1719	726	43	in	in	ADP
cblr-1719	726	44	their	their	PRON
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cblr-1719	726	46	.	.	PUNCT
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cblr-1719	727	2	recent	recent	ADJ
cblr-1719	727	3	years	year	NOUN
cblr-1719	727	4	,	,	PUNCT
cblr-1719	727	5	iss	iss	PROPN
cblr-1719	727	6	and	and	CCONJ
cblr-1719	727	7	glass	glass	PROPN
cblr-1719	727	8	lewis	lewis	PROPN
cblr-1719	727	9	,	,	PUNCT
cblr-1719	727	10	the	the	DET
cblr-1719	727	11	two	two	NUM
cblr-1719	727	12	most	most	ADV
cblr-1719	727	13	prominent	prominent	ADJ
cblr-1719	727	14	proxy	proxy	ADJ
cblr-1719	727	15	advisory	advisory	ADJ
cblr-1719	727	16	services	service	NOUN
cblr-1719	727	17	firms	firm	NOUN
cblr-1719	727	18	,	,	PUNCT
cblr-1719	727	19	have	have	AUX
cblr-1719	727	20	made	make	VERB
cblr-1719	727	21	great	great	ADJ
cblr-1719	727	22	progress241	progress241	X
cblr-1719	727	23	by	by	ADP
cblr-1719	727	24	focusing	focus	VERB
cblr-1719	727	25	heavily	heavily	ADV
cblr-1719	727	26	on	on	ADP
cblr-1719	727	27	declassifying	declassify	VERB
cblr-1719	727	28	boards	board	NOUN
cblr-1719	727	29	,	,	PUNCT
cblr-1719	727	30	majority	majority	NOUN
cblr-1719	727	31	voting	voting	NOUN
cblr-1719	727	32	rules	rule	NOUN
cblr-1719	727	33	for	for	ADP
cblr-1719	727	34	director	director	NOUN
cblr-1719	727	35	election	election	NOUN
cblr-1719	727	36	,	,	PUNCT
cblr-1719	727	37	and	and	CCONJ
cblr-1719	727	38	proxy	proxy	NOUN
cblr-1719	727	39	access.242	access.242	NOUN
cblr-1719	727	40	the	the	DET
cblr-1719	727	41	risk	risk	NOUN
cblr-1719	727	42	of	of	ADP
cblr-1719	727	43	insiders	insider	NOUN
cblr-1719	727	44	making	make	VERB
cblr-1719	727	45	opportunistic	opportunistic	ADJ
cblr-1719	727	46	decisions	decision	NOUN
cblr-1719	727	47	at	at	ADP
cblr-1719	727	48	the	the	DET
cblr-1719	727	49	midstream	midstream	NOUN
cblr-1719	727	50	stage	stage	NOUN
cblr-1719	727	51	in	in	ADP
cblr-1719	727	52	leveraged	leveraged	ADJ
cblr-1719	727	53	control	control	NOUN
cblr-1719	727	54	firms	firm	NOUN
cblr-1719	727	55	has	have	AUX
cblr-1719	727	56	not	not	PART
cblr-1719	727	57	been	be	AUX
cblr-1719	727	58	fully	fully	ADV
cblr-1719	727	59	recognized	recognize	VERB
cblr-1719	727	60	by	by	ADP
cblr-1719	727	61	shareholder	shareholder	NOUN
cblr-1719	727	62	activists	activist	NOUN
cblr-1719	727	63	.	.	PUNCT
cblr-1719	728	1	recently	recently	ADV
cblr-1719	728	2	,	,	PUNCT
cblr-1719	728	3	iss	iss	PROPN
cblr-1719	728	4	identified	identify	VERB
cblr-1719	728	5	inefficient	inefficient	ADJ
cblr-1719	728	6	ipo	ipo	NOUN
cblr-1719	728	7	governance	governance	NOUN
cblr-1719	728	8	arrangements	arrangement	NOUN
cblr-1719	728	9	as	as	ADP
cblr-1719	728	10	detrimental	detrimental	ADJ
cblr-1719	728	11	to	to	ADP
cblr-1719	728	12	shareholders	shareholder	NOUN
cblr-1719	728	13	.	.	PUNCT
cblr-1719	729	1	in	in	ADP
cblr-1719	729	2	november	november	PROPN
cblr-1719	729	3	2015	2015	NUM
cblr-1719	729	4	,	,	PUNCT
cblr-1719	729	5	iss	iss	PROPN
cblr-1719	729	6	announced	announce	VERB
cblr-1719	729	7	a	a	DET
cblr-1719	729	8	new	new	ADJ
cblr-1719	729	9	voting	voting	NOUN
cblr-1719	729	10	policy	policy	NOUN
cblr-1719	729	11	on	on	ADP
cblr-1719	729	12	unilateral	unilateral	ADJ
cblr-1719	729	13	bylaw	bylaw	NOUN
cblr-1719	729	14	or	or	CCONJ
cblr-1719	729	15	charter	charter	NOUN
cblr-1719	729	16	amendments	amendment	NOUN
cblr-1719	729	17	.	.	PUNCT
cblr-1719	730	1	iss	iss	PROPN
cblr-1719	730	2	recommends	recommend	VERB
cblr-1719	730	3	either	either	CCONJ
cblr-1719	730	4	withholding	withholding	NOUN
cblr-1719	730	5	or	or	CCONJ
cblr-1719	730	6	voting	vote	VERB
cblr-1719	730	7	against	against	ADP
cblr-1719	730	8	directors	director	NOUN
cblr-1719	730	9	of	of	ADP
cblr-1719	730	10	companies	company	NOUN
cblr-1719	730	11	who	who	PRON
cblr-1719	730	12	,	,	PUNCT
cblr-1719	730	13	prior	prior	ADV
cblr-1719	730	14	to	to	ADP
cblr-1719	730	15	or	or	CCONJ
cblr-1719	730	16	in	in	ADP
cblr-1719	730	17	connection	connection	NOUN
cblr-1719	730	18	with	with	ADP
cblr-1719	730	19	,	,	PUNCT
cblr-1719	730	20	their	their	PRON
cblr-1719	730	21	ipo	ipo	NOUN
cblr-1719	730	22	,	,	PUNCT
cblr-1719	730	23	adopt	adopt	VERB
cblr-1719	730	24	bylaw	bylaw	NOUN
cblr-1719	730	25	or	or	CCONJ
cblr-1719	730	26	charter	charter	NOUN
cblr-1719	730	27	provisions	provision	NOUN
cblr-1719	730	28	that	that	PRON
cblr-1719	730	29	are	be	AUX
cblr-1719	730	30	detrimental	detrimental	ADJ
cblr-1719	730	31	to	to	ADP
cblr-1719	730	32	shareholders	shareholder	NOUN
cblr-1719	730	33	until	until	SCONJ
cblr-1719	730	34	the	the	DET
cblr-1719	730	35	amendments	amendment	NOUN
cblr-1719	730	36	are	be	AUX
cblr-1719	730	37	reversed	reverse	VERB
cblr-1719	730	38	or	or	CCONJ
cblr-1719	730	39	ratified	ratify	VERB
cblr-1719	730	40	by	by	ADP
cblr-1719	730	41	shareholders.243	shareholders.243	PROPN
cblr-1719	730	42	iss	iss	PROPN
cblr-1719	730	43	regards	regard	VERB
cblr-1719	730	44	preipo	preipo	NOUN
cblr-1719	730	45	bylaw	bylaw	NOUN
cblr-1719	730	46	or	or	CCONJ
cblr-1719	730	47	charter	charter	NOUN
cblr-1719	730	48	provisions	provision	NOUN
cblr-1719	730	49	as	as	ADP
cblr-1719	730	50	unilateral	unilateral	ADJ
cblr-1719	730	51	actions	action	NOUN
cblr-1719	730	52	because	because	SCONJ
cblr-1719	730	53	post	post	ADJ
cblr-1719	730	54	-	-	ADJ
cblr-1719	730	55	ipo	ipo	ADJ
cblr-1719	730	56	investors	investor	NOUN
cblr-1719	730	57	do	do	AUX
cblr-1719	730	58	not	not	PART
cblr-1719	730	59	have	have	VERB
cblr-1719	730	60	a	a	DET
cblr-1719	730	61	chance	chance	NOUN
cblr-1719	730	62	to	to	PART
cblr-1719	730	63	participate	participate	VERB
cblr-1719	730	64	in	in	ADP
cblr-1719	730	65	the	the	DET
cblr-1719	730	66	decision	decision	NOUN
cblr-1719	730	67	-	-	PUNCT
cblr-1719	730	68	making	make	VERB
cblr-1719	730	69	process	process	NOUN
cblr-1719	730	70	when	when	SCONJ
cblr-1719	730	71	the	the	DET
cblr-1719	730	72	provisions	provision	NOUN
cblr-1719	730	73	are	be	AUX
cblr-1719	730	74	adopted	adopt	VERB
cblr-1719	730	75	during	during	ADP
cblr-1719	730	76	the	the	DET
cblr-1719	730	77	ipo	ipo	NOUN
cblr-1719	730	78	stage	stage	NOUN
cblr-1719	730	79	.	.	PUNCT
cblr-1719	731	1	most	most	ADJ
cblr-1719	731	2	of	of	ADP
cblr-1719	731	3	the	the	DET
cblr-1719	731	4	time	time	NOUN
cblr-1719	731	5	,	,	PUNCT
cblr-1719	731	6	pre	pre	ADJ
cblr-1719	731	7	-	-	ADJ
cblr-1719	731	8	ipo	ipo	ADJ
cblr-1719	731	9	shareholders	shareholder	NOUN
cblr-1719	731	10	also	also	ADV
cblr-1719	731	11	implement	implement	VERB
cblr-1719	731	12	a	a	DET
cblr-1719	731	13	supermajority	supermajority	NOUN
cblr-1719	731	14	vote	vote	NOUN
cblr-1719	731	15	provision	provision	NOUN
cblr-1719	731	16	to	to	PART
cblr-1719	731	17	make	make	VERB
cblr-1719	731	18	it	it	PRON
cblr-1719	731	19	harder	hard	ADJ
cblr-1719	731	20	to	to	PART
cblr-1719	731	21	change	change	VERB
cblr-1719	731	22	charters	charter	NOUN
cblr-1719	731	23	afterwards	afterwards	ADV
cblr-1719	731	24	and	and	CCONJ
cblr-1719	731	25	in	in	ADP
cblr-1719	731	26	order	order	NOUN
cblr-1719	731	27	to	to	PART
cblr-1719	731	28	ensure	ensure	VERB
cblr-1719	731	29	240	240	NUM
cblr-1719	731	30	marco	marco	PROPN
cblr-1719	731	31	becht	becht	PROPN
cblr-1719	731	32	et	et	PROPN
cblr-1719	731	33	al	al	PROPN
cblr-1719	731	34	.	.	PROPN
cblr-1719	731	35	,	,	PUNCT
cblr-1719	731	36	hedge	hedge	NOUN
cblr-1719	731	37	fund	fund	NOUN
cblr-1719	731	38	activism	activism	NOUN
cblr-1719	731	39	in	in	ADP
cblr-1719	731	40	europe	europe	PROPN
cblr-1719	731	41	20–22	20–22	PROPN
cblr-1719	731	42	(	(	PUNCT
cblr-1719	731	43	ecgifinance	ecgifinance	NOUN
cblr-1719	731	44	working	working	NOUN
cblr-1719	731	45	paper	paper	NOUN
cblr-1719	731	46	no	no	INTJ
cblr-1719	731	47	.	.	PUNCT
cblr-1719	731	48	283/2010	283/2010	NUM
cblr-1719	731	49	,	,	PUNCT
cblr-1719	731	50	2010	2010	NUM
cblr-1719	731	51	)	)	PUNCT
cblr-1719	731	52	.	.	PUNCT
cblr-1719	732	1	241	241	NUM
cblr-1719	732	2	s&p	s&p	PROPN
cblr-1719	732	3	500	500	NUM
cblr-1719	732	4	companies	company	NOUN
cblr-1719	732	5	that	that	PRON
cblr-1719	732	6	adopt	adopt	VERB
cblr-1719	732	7	majority	majority	NOUN
cblr-1719	732	8	voting	voting	NOUN
cblr-1719	732	9	grow	grow	VERB
cblr-1719	732	10	from	from	ADP
cblr-1719	732	11	nearly	nearly	ADV
cblr-1719	732	12	60	60	NUM
cblr-1719	732	13	%	%	NOUN
cblr-1719	732	14	in	in	ADP
cblr-1719	732	15	2009	2009	NUM
cblr-1719	732	16	to	to	ADP
cblr-1719	732	17	nearly	nearly	ADV
cblr-1719	732	18	90	90	NUM
cblr-1719	732	19	%	%	NOUN
cblr-1719	732	20	in	in	ADP
cblr-1719	732	21	2015	2015	NUM
cblr-1719	732	22	.	.	PUNCT
cblr-1719	733	1	see	see	VERB
cblr-1719	733	2	iss	iss	PROPN
cblr-1719	733	3	,	,	PUNCT
cblr-1719	733	4	supra	supra	PROPN
cblr-1719	733	5	note	note	PROPN
cblr-1719	733	6	234	234	NUM
cblr-1719	733	7	.	.	NOUN
cblr-1719	733	8	242	242	NUM
cblr-1719	734	1	see	see	VERB
cblr-1719	734	2	iss	iss	PROPN
cblr-1719	734	3	,	,	PUNCT
cblr-1719	734	4	executive	executive	ADJ
cblr-1719	734	5	summary	summary	NOUN
cblr-1719	734	6	:	:	PUNCT
cblr-1719	734	7	proxy	proxy	NOUN
cblr-1719	734	8	voting	voting	NOUN
cblr-1719	734	9	guideline	guideline	NOUN
cblr-1719	734	10	updates	update	NOUN
cblr-1719	734	11	and	and	CCONJ
cblr-1719	734	12	process	process	NOUN
cblr-1719	734	13	(	(	PUNCT
cblr-1719	734	14	2015	2015	NUM
cblr-1719	734	15	)	)	PUNCT
cblr-1719	734	16	,	,	PUNCT
cblr-1719	734	17	https://www.issgovernance.com/	https://www.issgovernance.com/	ADJ
cblr-1719	734	18	file	file	NOUN
cblr-1719	734	19	/	/	SYM
cblr-1719	734	20	policy	policy	NOUN
cblr-1719	734	21	/	/	SYM
cblr-1719	734	22	executivesummary	executivesummary	NOUN
cblr-1719	734	23	-	-	PUNCT
cblr-1719	734	24	of	of	ADP
cblr-1719	734	25	-	-	PUNCT
cblr-1719	734	26	key-2016	key-2016	NOUN
cblr-1719	734	27	-	-	PUNCT
cblr-1719	734	28	updates	update	NOUN
cblr-1719	734	29	-	-	PUNCT
cblr-1719	734	30	and	and	CCONJ
cblr-1719	734	31	-	-	PUNCT
cblr-1719	734	32	policy.pdf	policy.pdf	NOUN
cblr-1719	734	33	[	[	X
cblr-1719	734	34	https://perma.cc/4zb5374w	https://perma.cc/4zb5374w	PROPN
cblr-1719	734	35	]	]	PUNCT
cblr-1719	734	36	;	;	PUNCT
cblr-1719	734	37	glass	glass	PROPN
cblr-1719	734	38	lewis	lewis	PROPN
cblr-1719	734	39	,	,	PUNCT
cblr-1719	734	40	proxy	proxy	ADJ
cblr-1719	734	41	paper	paper	NOUN
cblr-1719	734	42	guidelines	guideline	VERB
cblr-1719	734	43	2016	2016	NUM
cblr-1719	734	44	proxy	proxy	NOUN
cblr-1719	734	45	season	season	NOUN
cblr-1719	734	46	:	:	PUNCT
cblr-1719	734	47	united	united	PROPN
cblr-1719	734	48	states	states	PROPN
cblr-1719	734	49	(	(	PUNCT
cblr-1719	734	50	2016	2016	NUM
cblr-1719	734	51	)	)	PUNCT
cblr-1719	734	52	,	,	PUNCT
cblr-1719	734	53	http://www.glasslewis.com/wpcontent/uploads/2016/01/2016_guidelines_united_states.pdf	http://www.glasslewis.com/wpcontent/uploads/2016/01/2016_guidelines_united_states.pdf	NOUN
cblr-1719	734	54	[	[	X
cblr-1719	734	55	https://perma.cc/wp73-b476	https://perma.cc/wp73-b476	NOUN
cblr-1719	734	56	]	]	X
cblr-1719	734	57	.	.	PUNCT
cblr-1719	735	1	243	243	NUM
cblr-1719	735	2	iss	iss	PROPN
cblr-1719	735	3	releases	release	VERB
cblr-1719	735	4	2016	2016	NUM
cblr-1719	735	5	benchmark	benchmark	NOUN
cblr-1719	735	6	policy	policy	NOUN
cblr-1719	735	7	updates	update	NOUN
cblr-1719	735	8	,	,	PUNCT
cblr-1719	735	9	iss	iss	PROPN
cblr-1719	735	10	,	,	PUNCT
cblr-1719	735	11	https://www.issgovernance.com/iss-releases-2016-benchmark-policyupdates-2/	https://www.issgovernance.com/iss-releases-2016-benchmark-policyupdates-2/	VERB
cblr-1719	736	1	[	[	X
cblr-1719	736	2	https://perma.cc/9pcr-vy96	https://perma.cc/9pcr-vy96	X
cblr-1719	736	3	]	]	X
cblr-1719	736	4	(	(	PUNCT
cblr-1719	736	5	last	last	ADJ
cblr-1719	736	6	visited	visit	VERB
cblr-1719	736	7	feb	feb	PROPN
cblr-1719	736	8	.	.	PROPN
cblr-1719	736	9	14	14	NUM
cblr-1719	736	10	,	,	PUNCT
cblr-1719	736	11	2017	2017	NUM
cblr-1719	736	12	)	)	PUNCT
cblr-1719	736	13	.	.	PUNCT
cblr-1719	737	1	lin	lin	PROPN
cblr-1719	737	2	–	–	PUNCT
cblr-1719	737	3	final	final	ADJ
cblr-1719	737	4	510	510	NUM
cblr-1719	737	5	columbia	columbia	PROPN
cblr-1719	737	6	business	business	NOUN
cblr-1719	737	7	law	law	PROPN
cblr-1719	737	8	review	review	NOUN
cblr-1719	737	9	[	[	X
cblr-1719	737	10	vol	vol	NOUN
cblr-1719	737	11	.	.	NOUN
cblr-1719	737	12	2017	2017	NUM
cblr-1719	737	13	that	that	PRON
cblr-1719	737	14	the	the	DET
cblr-1719	737	15	entrenchment	entrenchment	ADJ
cblr-1719	737	16	provisions	provision	NOUN
cblr-1719	737	17	they	they	PRON
cblr-1719	737	18	surreptitiously	surreptitiously	ADV
cblr-1719	737	19	implemented	implement	VERB
cblr-1719	737	20	at	at	ADP
cblr-1719	737	21	the	the	DET
cblr-1719	737	22	ipo	ipo	NOUN
cblr-1719	737	23	stage	stage	NOUN
cblr-1719	737	24	remain	remain	VERB
cblr-1719	737	25	in	in	ADP
cblr-1719	737	26	place	place	NOUN
cblr-1719	737	27	after	after	SCONJ
cblr-1719	737	28	the	the	DET
cblr-1719	737	29	company	company	NOUN
cblr-1719	737	30	goes	go	VERB
cblr-1719	737	31	public.244	public.244	NOUN
cblr-1719	737	32	to	to	PART
cblr-1719	737	33	prevent	prevent	VERB
cblr-1719	737	34	midstream	midstream	NOUN
cblr-1719	737	35	opportunistic	opportunistic	ADJ
cblr-1719	737	36	behaviors	behavior	NOUN
cblr-1719	737	37	from	from	ADP
cblr-1719	737	38	occurring	occur	VERB
cblr-1719	737	39	,	,	PUNCT
cblr-1719	737	40	iss	iss	PROPN
cblr-1719	737	41	proposes	propose	VERB
cblr-1719	737	42	that	that	SCONJ
cblr-1719	737	43	ipo	ipo	PROPN
cblr-1719	737	44	governance	governance	NOUN
cblr-1719	737	45	measures	measure	NOUN
cblr-1719	737	46	that	that	PRON
cblr-1719	737	47	are	be	AUX
cblr-1719	737	48	detrimental	detrimental	ADJ
cblr-1719	737	49	to	to	ADP
cblr-1719	737	50	shareholders	shareholder	NOUN
cblr-1719	737	51	should	should	AUX
cblr-1719	737	52	be	be	AUX
cblr-1719	737	53	ratified	ratify	VERB
cblr-1719	737	54	by	by	ADP
cblr-1719	737	55	post	post	ADJ
cblr-1719	737	56	-	-	ADJ
cblr-1719	737	57	ipo	ipo	ADJ
cblr-1719	737	58	shareholders	shareholder	NOUN
cblr-1719	737	59	in	in	ADP
cblr-1719	737	60	order	order	NOUN
cblr-1719	737	61	to	to	PART
cblr-1719	737	62	make	make	VERB
cblr-1719	737	63	insiders	insider	NOUN
cblr-1719	737	64	accountable	accountable	ADJ
cblr-1719	737	65	to	to	ADP
cblr-1719	737	66	shareholders.245	shareholders.245	PROPN
cblr-1719	737	67	even	even	ADV
cblr-1719	737	68	though	though	SCONJ
cblr-1719	737	69	iss	iss	PROPN
cblr-1719	737	70	’s	’s	PART
cblr-1719	737	71	actions	action	NOUN
cblr-1719	737	72	mainly	mainly	ADV
cblr-1719	737	73	focus	focus	VERB
cblr-1719	737	74	on	on	ADP
cblr-1719	737	75	the	the	DET
cblr-1719	737	76	pre	pre	ADJ
cblr-1719	737	77	-	-	ADJ
cblr-1719	737	78	ipo	ipo	ADJ
cblr-1719	737	79	adoption	adoption	NOUN
cblr-1719	737	80	of	of	ADP
cblr-1719	737	81	classified	classified	ADJ
cblr-1719	737	82	boards	board	NOUN
cblr-1719	737	83	and	and	CCONJ
cblr-1719	737	84	supermajority	supermajority	NOUN
cblr-1719	737	85	vote	vote	NOUN
cblr-1719	737	86	requirements	requirement	NOUN
cblr-1719	737	87	for	for	ADP
cblr-1719	737	88	charter	charter	NOUN
cblr-1719	737	89	amendments	amendment	NOUN
cblr-1719	737	90	,	,	PUNCT
cblr-1719	737	91	this	this	DET
cblr-1719	737	92	article	article	NOUN
cblr-1719	737	93	argues	argue	VERB
cblr-1719	737	94	that	that	SCONJ
cblr-1719	737	95	a	a	DET
cblr-1719	737	96	dual	dual	ADJ
cblr-1719	737	97	-	-	PUNCT
cblr-1719	737	98	class	class	NOUN
cblr-1719	737	99	share	share	NOUN
cblr-1719	737	100	structure	structure	NOUN
cblr-1719	737	101	and	and	CCONJ
cblr-1719	737	102	other	other	ADJ
cblr-1719	737	103	leveraged	leveraged	ADJ
cblr-1719	737	104	control	control	NOUN
cblr-1719	737	105	arrangements	arrangement	NOUN
cblr-1719	737	106	should	should	AUX
cblr-1719	737	107	also	also	ADV
cblr-1719	737	108	be	be	AUX
cblr-1719	737	109	subject	subject	ADJ
cblr-1719	737	110	to	to	ADP
cblr-1719	737	111	post	post	ADJ
cblr-1719	737	112	-	-	ADJ
cblr-1719	737	113	ipo	ipo	ADJ
cblr-1719	737	114	ratification	ratification	NOUN
cblr-1719	737	115	by	by	ADP
cblr-1719	737	116	shareholders	shareholder	NOUN
cblr-1719	737	117	.	.	PUNCT
cblr-1719	738	1	vi	vi	X
cblr-1719	738	2	.	.	NOUN
cblr-1719	738	3	conclusions	conclusion	NOUN
cblr-1719	738	4	corporate	corporate	ADJ
cblr-1719	738	5	control	control	NOUN
cblr-1719	738	6	structure	structure	NOUN
cblr-1719	738	7	differs	differ	VERB
cblr-1719	738	8	according	accord	VERB
cblr-1719	738	9	to	to	ADP
cblr-1719	738	10	firms	firm	NOUN
cblr-1719	738	11	.	.	PUNCT
cblr-1719	739	1	what	what	PRON
cblr-1719	739	2	works	work	VERB
cblr-1719	739	3	in	in	ADP
cblr-1719	739	4	one	one	NUM
cblr-1719	739	5	firm	firm	NOUN
cblr-1719	739	6	may	may	AUX
cblr-1719	739	7	not	not	PART
cblr-1719	739	8	work	work	VERB
cblr-1719	739	9	in	in	ADP
cblr-1719	739	10	another	another	PRON
cblr-1719	739	11	.	.	PUNCT
cblr-1719	740	1	the	the	DET
cblr-1719	740	2	tradeoff	tradeoff	NOUN
cblr-1719	740	3	between	between	ADP
cblr-1719	740	4	monitoring	monitor	VERB
cblr-1719	740	5	benefits	benefit	NOUN
cblr-1719	740	6	and	and	CCONJ
cblr-1719	740	7	entrenchment	entrenchment	ADJ
cblr-1719	740	8	agency	agency	NOUN
cblr-1719	740	9	costs	cost	NOUN
cblr-1719	740	10	is	be	AUX
cblr-1719	740	11	always	always	ADV
cblr-1719	740	12	difficult	difficult	ADJ
cblr-1719	740	13	to	to	PART
cblr-1719	740	14	weigh	weigh	VERB
cblr-1719	740	15	in	in	ADP
cblr-1719	740	16	a	a	DET
cblr-1719	740	17	controlled	control	VERB
cblr-1719	740	18	firm	firm	NOUN
cblr-1719	740	19	;	;	PUNCT
cblr-1719	740	20	the	the	DET
cblr-1719	740	21	key	key	NOUN
cblr-1719	740	22	is	be	AUX
cblr-1719	740	23	to	to	PART
cblr-1719	740	24	constrain	constrain	VERB
cblr-1719	740	25	the	the	DET
cblr-1719	740	26	extraction	extraction	NOUN
cblr-1719	740	27	of	of	ADP
cblr-1719	740	28	private	private	ADJ
cblr-1719	740	29	benefits	benefit	NOUN
cblr-1719	740	30	of	of	ADP
cblr-1719	740	31	control	control	NOUN
cblr-1719	740	32	by	by	ADP
cblr-1719	740	33	controlling	control	VERB
cblr-1719	740	34	shareholders	shareholder	NOUN
cblr-1719	740	35	.	.	PUNCT
cblr-1719	741	1	regulators	regulator	NOUN
cblr-1719	741	2	can	can	AUX
cblr-1719	741	3	create	create	VERB
cblr-1719	741	4	a	a	DET
cblr-1719	741	5	sound	sound	ADJ
cblr-1719	741	6	legal	legal	ADJ
cblr-1719	741	7	system	system	NOUN
cblr-1719	741	8	that	that	PRON
cblr-1719	741	9	reduces	reduce	VERB
cblr-1719	741	10	the	the	DET
cblr-1719	741	11	level	level	NOUN
cblr-1719	741	12	of	of	ADP
cblr-1719	741	13	private	private	ADJ
cblr-1719	741	14	benefits	benefit	NOUN
cblr-1719	741	15	extractions	extraction	NOUN
cblr-1719	741	16	by	by	ADP
cblr-1719	741	17	leveraged	leveraged	ADJ
cblr-1719	741	18	controllers	controller	NOUN
cblr-1719	741	19	,	,	PUNCT
cblr-1719	741	20	but	but	CCONJ
cblr-1719	741	21	they	they	PRON
cblr-1719	741	22	are	be	AUX
cblr-1719	741	23	not	not	PART
cblr-1719	741	24	in	in	ADP
cblr-1719	741	25	a	a	DET
cblr-1719	741	26	suitable	suitable	ADJ
cblr-1719	741	27	position	position	NOUN
cblr-1719	741	28	to	to	PART
cblr-1719	741	29	make	make	VERB
cblr-1719	741	30	choices	choice	NOUN
cblr-1719	741	31	for	for	ADP
cblr-1719	741	32	shareholders	shareholder	NOUN
cblr-1719	741	33	.	.	PUNCT
cblr-1719	742	1	this	this	DET
cblr-1719	742	2	article	article	NOUN
cblr-1719	742	3	therefore	therefore	ADV
cblr-1719	742	4	argues	argue	VERB
cblr-1719	742	5	against	against	ADP
cblr-1719	742	6	the	the	DET
cblr-1719	742	7	outright	outright	ADJ
cblr-1719	742	8	prohibition	prohibition	NOUN
cblr-1719	742	9	of	of	ADP
cblr-1719	742	10	any	any	DET
cblr-1719	742	11	specific	specific	ADJ
cblr-1719	742	12	types	type	NOUN
cblr-1719	742	13	of	of	ADP
cblr-1719	742	14	control	control	NOUN
cblr-1719	742	15	-	-	PUNCT
cblr-1719	742	16	enhancing	enhance	VERB
cblr-1719	742	17	mechanisms	mechanism	NOUN
cblr-1719	742	18	.	.	PUNCT
cblr-1719	743	1	instead	instead	ADV
cblr-1719	743	2	,	,	PUNCT
cblr-1719	743	3	the	the	DET
cblr-1719	743	4	shareholders	shareholder	NOUN
cblr-1719	743	5	of	of	ADP
cblr-1719	743	6	each	each	DET
cblr-1719	743	7	firm	firm	NOUN
cblr-1719	743	8	should	should	AUX
cblr-1719	743	9	choose	choose	VERB
cblr-1719	743	10	an	an	DET
cblr-1719	743	11	optimal	optimal	ADJ
cblr-1719	743	12	governance	governance	NOUN
cblr-1719	743	13	regime	regime	NOUN
cblr-1719	743	14	.	.	PUNCT
cblr-1719	744	1	inefficiencies	inefficiency	NOUN
cblr-1719	744	2	in	in	ADP
cblr-1719	744	3	governance	governance	NOUN
cblr-1719	744	4	would	would	AUX
cblr-1719	744	5	be	be	AUX
cblr-1719	744	6	best	well	ADV
cblr-1719	744	7	addressed	address	VERB
cblr-1719	744	8	by	by	ADP
cblr-1719	744	9	each	each	DET
cblr-1719	744	10	firm	firm	NOUN
cblr-1719	744	11	’s	’s	PART
cblr-1719	744	12	shareholders	shareholder	NOUN
cblr-1719	744	13	through	through	ADP
cblr-1719	744	14	voting	voting	NOUN
cblr-1719	744	15	.	.	PUNCT
cblr-1719	745	1	therefore	therefore	ADV
cblr-1719	745	2	,	,	PUNCT
cblr-1719	745	3	this	this	DET
cblr-1719	745	4	article	article	NOUN
cblr-1719	745	5	advocates	advocate	VERB
cblr-1719	745	6	increasing	increase	VERB
cblr-1719	745	7	shareholder	shareholder	NOUN
cblr-1719	745	8	participation	participation	NOUN
cblr-1719	745	9	in	in	ADP
cblr-1719	745	10	leveraged	leveraged	ADJ
cblr-1719	745	11	control	control	NOUN
cblr-1719	745	12	firms	firm	NOUN
cblr-1719	745	13	and	and	CCONJ
cblr-1719	745	14	suggests	suggest	VERB
cblr-1719	745	15	proxy	proxy	ADJ
cblr-1719	745	16	advisory	advisory	ADJ
cblr-1719	745	17	firms	firm	NOUN
cblr-1719	745	18	and	and	CCONJ
cblr-1719	745	19	shareholder	shareholder	NOUN
cblr-1719	745	20	activists	activist	NOUN
cblr-1719	745	21	include	include	VERB
cblr-1719	745	22	leveraged	leveraged	ADJ
cblr-1719	745	23	control	control	NOUN
cblr-1719	745	24	devices	device	NOUN
cblr-1719	745	25	in	in	ADP
cblr-1719	745	26	their	their	PRON
cblr-1719	745	27	agenda	agenda	NOUN
cblr-1719	745	28	so	so	SCONJ
cblr-1719	745	29	as	as	SCONJ
cblr-1719	745	30	to	to	PART
cblr-1719	745	31	govern	govern	VERB
cblr-1719	745	32	the	the	DET
cblr-1719	745	33	midstream	midstream	NOUN
cblr-1719	745	34	opportunistic	opportunistic	ADJ
cblr-1719	745	35	behaviors	behavior	NOUN
cblr-1719	745	36	of	of	ADP
cblr-1719	745	37	leveraged	leveraged	ADJ
cblr-1719	745	38	controllers	controller	NOUN
cblr-1719	745	39	.	.	PUNCT
cblr-1719	746	1	244	244	NUM
cblr-1719	747	1	“	"	PUNCT
cblr-1719	747	2	a	a	DET
cblr-1719	747	3	significant	significant	ADJ
cblr-1719	747	4	percentage	percentage	NOUN
cblr-1719	747	5	of	of	ADP
cblr-1719	747	6	recent	recent	ADJ
cblr-1719	747	7	ipos	ipos	NOUN
cblr-1719	747	8	in	in	ADP
cblr-1719	747	9	the	the	DET
cblr-1719	747	10	u.s	u.s	PROPN
cblr-1719	747	11	.	.	PROPN
cblr-1719	747	12	have	have	AUX
cblr-1719	747	13	included	include	VERB
cblr-1719	747	14	provisions	provision	NOUN
cblr-1719	747	15	that	that	PRON
cblr-1719	747	16	limit	limit	VERB
cblr-1719	747	17	board	board	NOUN
cblr-1719	747	18	accountability	accountability	NOUN
cblr-1719	747	19	to	to	ADP
cblr-1719	747	20	post	post	ADJ
cblr-1719	747	21	-	-	ADJ
cblr-1719	747	22	ipo	ipo	ADJ
cblr-1719	747	23	investors	investor	NOUN
cblr-1719	747	24	and	and	CCONJ
cblr-1719	747	25	make	make	VERB
cblr-1719	747	26	it	it	PRON
cblr-1719	747	27	difficult	difficult	ADJ
cblr-1719	747	28	for	for	SCONJ
cblr-1719	747	29	shareholders	shareholder	NOUN
cblr-1719	747	30	to	to	PART
cblr-1719	747	31	amend	amend	VERB
cblr-1719	747	32	the	the	DET
cblr-1719	747	33	company	company	NOUN
cblr-1719	747	34	’s	’s	PART
cblr-1719	747	35	governing	govern	VERB
cblr-1719	747	36	documents	document	NOUN
cblr-1719	747	37	or	or	CCONJ
cblr-1719	747	38	take	take	VERB
cblr-1719	747	39	other	other	ADJ
cblr-1719	747	40	corporate	corporate	ADJ
cblr-1719	747	41	actions	action	NOUN
cblr-1719	747	42	.	.	PUNCT
cblr-1719	747	43	”	"	PUNCT
cblr-1719	748	1	i	i	PRON
cblr-1719	748	2	d.	d.	PROPN
cblr-1719	748	3	245	245	NUM
cblr-1719	749	1	i	i	PROPN
cblr-1719	749	2	d.	d.	PROPN