id	sid	tid	token	lemma	pos
cblr-1780	1	1	microsoft	microsoft	PROPN
cblr-1780	1	2	word	word	NOUN
cblr-1780	1	3	1_2014.3_guttentag_final	1_2014.3_guttentag_final	NUM
cblr-1780	1	4	guttentag	guttentag	NOUN
cblr-1780	1	5	–	–	PUNCT
cblr-1780	1	6	final	final	ADJ
cblr-1780	1	7	on	on	ADP
cblr-1780	1	8	requiring	require	VERB
cblr-1780	1	9	public	public	ADJ
cblr-1780	1	10	companies	company	NOUN
cblr-1780	1	11	to	to	PART
cblr-1780	1	12	disclose	disclose	VERB
cblr-1780	1	13	political	political	ADJ
cblr-1780	1	14	spending	spending	NOUN
cblr-1780	1	15	michael	michael	PROPN
cblr-1780	1	16	d.	d.	PROPN
cblr-1780	1	17	guttentag	guttentag	PROPN
cblr-1780	1	18	*	*	PUNCT
cblr-1780	1	19	mandatory	mandatory	ADJ
cblr-1780	1	20	disclosure	disclosure	NOUN
cblr-1780	1	21	is	be	AUX
cblr-1780	1	22	a	a	DET
cblr-1780	1	23	central	central	ADJ
cblr-1780	1	24	feature	feature	NOUN
cblr-1780	1	25	of	of	ADP
cblr-1780	1	26	securities	security	NOUN
cblr-1780	1	27	regulation	regulation	NOUN
cblr-1780	1	28	in	in	ADP
cblr-1780	1	29	the	the	DET
cblr-1780	1	30	united	united	PROPN
cblr-1780	1	31	states	states	PROPN
cblr-1780	1	32	,	,	PUNCT
cblr-1780	1	33	yet	yet	CCONJ
cblr-1780	1	34	there	there	PRON
cblr-1780	1	35	is	be	VERB
cblr-1780	1	36	little	little	ADJ
cblr-1780	1	37	agreement	agreement	NOUN
cblr-1780	1	38	about	about	ADP
cblr-1780	1	39	how	how	SCONJ
cblr-1780	1	40	to	to	PART
cblr-1780	1	41	determine	determine	VERB
cblr-1780	1	42	precisely	precisely	ADV
cblr-1780	1	43	what	what	PRON
cblr-1780	1	44	public	public	ADJ
cblr-1780	1	45	companies	company	NOUN
cblr-1780	1	46	should	should	AUX
cblr-1780	1	47	be	be	AUX
cblr-1780	1	48	required	require	VERB
cblr-1780	1	49	to	to	PART
cblr-1780	1	50	disclose	disclose	VERB
cblr-1780	1	51	.	.	PUNCT
cblr-1780	2	1	this	this	DET
cblr-1780	2	2	lack	lack	NOUN
cblr-1780	2	3	of	of	ADP
cblr-1780	2	4	consensus	consensus	NOUN
cblr-1780	2	5	explains	explain	VERB
cblr-1780	2	6	much	much	ADJ
cblr-1780	2	7	of	of	ADP
cblr-1780	2	8	the	the	DET
cblr-1780	2	9	disagreement	disagreement	NOUN
cblr-1780	2	10	about	about	ADP
cblr-1780	2	11	whether	whether	SCONJ
cblr-1780	2	12	the	the	DET
cblr-1780	2	13	securities	security	NOUN
cblr-1780	2	14	and	and	CCONJ
cblr-1780	2	15	exchange	exchange	PROPN
cblr-1780	2	16	commission	commission	NOUN
cblr-1780	2	17	should	should	AUX
cblr-1780	2	18	require	require	VERB
cblr-1780	2	19	public	public	ADJ
cblr-1780	2	20	companies	company	NOUN
cblr-1780	2	21	to	to	PART
cblr-1780	2	22	disclose	disclose	VERB
cblr-1780	2	23	political	political	ADJ
cblr-1780	2	24	spending	spending	NOUN
cblr-1780	2	25	.	.	PUNCT
cblr-1780	3	1	to	to	PART
cblr-1780	3	2	resolve	resolve	VERB
cblr-1780	3	3	the	the	DET
cblr-1780	3	4	political	political	ADJ
cblr-1780	3	5	spending	spending	NOUN
cblr-1780	3	6	disclosure	disclosure	NOUN
cblr-1780	3	7	debate	debate	NOUN
cblr-1780	3	8	i	i	PRON
cblr-1780	3	9	therefore	therefore	ADV
cblr-1780	3	10	begin	begin	VERB
cblr-1780	3	11	by	by	ADP
cblr-1780	3	12	considering	consider	VERB
cblr-1780	3	13	the	the	DET
cblr-1780	3	14	more	more	ADV
cblr-1780	3	15	general	general	ADJ
cblr-1780	3	16	question	question	NOUN
cblr-1780	3	17	of	of	ADP
cblr-1780	3	18	how	how	SCONJ
cblr-1780	3	19	to	to	PART
cblr-1780	3	20	evaluate	evaluate	VERB
cblr-1780	3	21	any	any	DET
cblr-1780	3	22	proposed	propose	VERB
cblr-1780	3	23	mandatory	mandatory	ADJ
cblr-1780	3	24	disclosure	disclosure	NOUN
cblr-1780	3	25	requirement	requirement	NOUN
cblr-1780	3	26	.	.	PUNCT
cblr-1780	4	1	i	i	PRON
cblr-1780	4	2	show	show	VERB
cblr-1780	4	3	why	why	SCONJ
cblr-1780	4	4	the	the	DET
cblr-1780	4	5	presumption	presumption	NOUN
cblr-1780	4	6	should	should	AUX
cblr-1780	4	7	be	be	AUX
cblr-1780	4	8	against	against	ADP
cblr-1780	4	9	adding	add	VERB
cblr-1780	4	10	a	a	DET
cblr-1780	4	11	new	new	ADJ
cblr-1780	4	12	disclosure	disclosure	NOUN
cblr-1780	4	13	requirement	requirement	NOUN
cblr-1780	4	14	,	,	PUNCT
cblr-1780	4	15	and	and	CCONJ
cblr-1780	4	16	then	then	ADV
cblr-1780	4	17	identify	identify	VERB
cblr-1780	4	18	the	the	DET
cblr-1780	4	19	kinds	kind	NOUN
cblr-1780	4	20	of	of	ADP
cblr-1780	4	21	evidence	evidence	NOUN
cblr-1780	4	22	that	that	PRON
cblr-1780	4	23	should	should	AUX
cblr-1780	4	24	be	be	AUX
cblr-1780	4	25	sufficient	sufficient	ADJ
cblr-1780	4	26	to	to	PART
cblr-1780	4	27	overcome	overcome	VERB
cblr-1780	4	28	this	this	DET
cblr-1780	4	29	presumption	presumption	NOUN
cblr-1780	4	30	.	.	PUNCT
cblr-1780	5	1	applying	apply	VERB
cblr-1780	5	2	this	this	DET
cblr-1780	5	3	new	new	ADJ
cblr-1780	5	4	analytic	analytic	ADJ
cblr-1780	5	5	framework	framework	NOUN
cblr-1780	5	6	to	to	ADP
cblr-1780	5	7	the	the	DET
cblr-1780	5	8	political	political	ADJ
cblr-1780	5	9	spending	spending	NOUN
cblr-1780	5	10	disclosure	disclosure	NOUN
cblr-1780	5	11	debate	debate	NOUN
cblr-1780	5	12	—	—	PUNCT
cblr-1780	5	13	and	and	CCONJ
cblr-1780	5	14	basing	base	VERB
cblr-1780	5	15	this	this	DET
cblr-1780	5	16	analysis	analysis	NOUN
cblr-1780	5	17	in	in	ADP
cblr-1780	5	18	part	part	NOUN
cblr-1780	5	19	on	on	ADP
cblr-1780	5	20	previously	previously	ADV
cblr-1780	5	21	unpublished	unpublished	ADJ
cblr-1780	5	22	empirical	empirical	ADJ
cblr-1780	5	23	findings	finding	NOUN
cblr-1780	5	24	—	—	PUNCT
cblr-1780	5	25	shows	show	VERB
cblr-1780	5	26	that	that	SCONJ
cblr-1780	5	27	public	public	ADJ
cblr-1780	5	28	companies	company	NOUN
cblr-1780	5	29	should	should	AUX
cblr-1780	5	30	not	not	PART
cblr-1780	5	31	be	be	AUX
cblr-1780	5	32	required	require	VERB
cblr-1780	5	33	to	to	PART
cblr-1780	5	34	disclose	disclose	VERB
cblr-1780	5	35	political	political	ADJ
cblr-1780	5	36	spending	spending	NOUN
cblr-1780	5	37	.	.	PUNCT
cblr-1780	6	1	i.	i.	NOUN
cblr-1780	6	2	introduction	introduction	NOUN
cblr-1780	6	3	...............................................................	...............................................................	PUNCT
cblr-1780	6	4	594	594	NUM
cblr-1780	6	5	ii	ii	NOUN
cblr-1780	6	6	.	.	PUNCT
cblr-1780	7	1	current	current	ADJ
cblr-1780	7	2	arguments	argument	NOUN
cblr-1780	7	3	for	for	ADP
cblr-1780	7	4	requiring	require	VERB
cblr-1780	7	5	political	political	ADJ
cblr-1780	7	6	spending	spending	NOUN
cblr-1780	7	7	disclosure	disclosure	NOUN
cblr-1780	7	8	and	and	CCONJ
cblr-1780	7	9	their	their	PRON
cblr-1780	7	10	shortcomings	shortcoming	NOUN
cblr-1780	7	11	..........	..........	PUNCT
cblr-1780	7	12	599	599	NUM
cblr-1780	7	13	a.	a.	NOUN
cblr-1780	7	14	analogy	analogy	NOUN
cblr-1780	7	15	to	to	ADP
cblr-1780	7	16	information	information	NOUN
cblr-1780	7	17	already	already	ADV
cblr-1780	7	18	required	require	VERB
cblr-1780	7	19	to	to	PART
cblr-1780	7	20	be	be	AUX
cblr-1780	7	21	disclosed	disclose	VERB
cblr-1780	7	22	..............................................................	..............................................................	PUNCT
cblr-1780	7	23	607	607	NUM
cblr-1780	7	24	b.	b.	NOUN
cblr-1780	7	25	problems	problem	NOUN
cblr-1780	7	26	with	with	ADP
cblr-1780	7	27	the	the	DET
cblr-1780	7	28	argument	argument	NOUN
cblr-1780	7	29	by	by	ADP
cblr-1780	7	30	analogy	analogy	NOUN
cblr-1780	7	31	...........	...........	PUNCT
cblr-1780	8	1	610	610	NUM
cblr-1780	8	2	*	*	PUNCT
cblr-1780	8	3	professor	professor	NOUN
cblr-1780	8	4	of	of	ADP
cblr-1780	8	5	law	law	NOUN
cblr-1780	8	6	and	and	CCONJ
cblr-1780	8	7	john	john	PROPN
cblr-1780	8	8	t.	t.	PROPN
cblr-1780	8	9	gurash	gurash	PROPN
cblr-1780	8	10	fellow	fellow	NOUN
cblr-1780	8	11	of	of	ADP
cblr-1780	8	12	corporate	corporate	ADJ
cblr-1780	8	13	law	law	NOUN
cblr-1780	8	14	and	and	CCONJ
cblr-1780	8	15	business	business	NOUN
cblr-1780	8	16	,	,	PUNCT
cblr-1780	8	17	loyola	loyola	PROPN
cblr-1780	8	18	law	law	NOUN
cblr-1780	8	19	school	school	NOUN
cblr-1780	8	20	,	,	PUNCT
cblr-1780	8	21	los	los	PROPN
cblr-1780	8	22	angeles	angeles	PROPN
cblr-1780	8	23	.	.	PUNCT
cblr-1780	9	1	i	i	PRON
cblr-1780	9	2	would	would	AUX
cblr-1780	9	3	like	like	VERB
cblr-1780	9	4	to	to	PART
cblr-1780	9	5	thank	thank	VERB
cblr-1780	9	6	the	the	DET
cblr-1780	9	7	participants	participant	NOUN
cblr-1780	9	8	in	in	ADP
cblr-1780	9	9	the	the	DET
cblr-1780	9	10	loyola	loyola	PROPN
cblr-1780	9	11	law	law	NOUN
cblr-1780	9	12	school	school	NOUN
cblr-1780	9	13	summer	summer	NOUN
cblr-1780	9	14	scholarship	scholarship	NOUN
cblr-1780	9	15	colloquium	colloquium	NOUN
cblr-1780	9	16	,	,	PUNCT
cblr-1780	9	17	as	as	ADV
cblr-1780	9	18	well	well	ADV
cblr-1780	9	19	as	as	ADP
cblr-1780	9	20	james	james	PROPN
cblr-1780	9	21	angel	angel	PROPN
cblr-1780	9	22	,	,	PUNCT
cblr-1780	9	23	stephen	stephen	PROPN
cblr-1780	9	24	bainbridge	bainbridge	PROPN
cblr-1780	9	25	,	,	PUNCT
cblr-1780	9	26	carlos	carlos	PROPN
cblr-1780	9	27	berdejo	berdejo	PROPN
cblr-1780	9	28	,	,	PUNCT
cblr-1780	9	29	victor	victor	PROPN
cblr-1780	9	30	fleischer	fleischer	PROPN
cblr-1780	9	31	,	,	PUNCT
cblr-1780	9	32	sarah	sarah	PROPN
cblr-1780	9	33	c.	c.	PROPN
cblr-1780	9	34	haan	haan	PROPN
cblr-1780	9	35	,	,	PUNCT
cblr-1780	9	36	robert	robert	PROPN
cblr-1780	9	37	j.	j.	PROPN
cblr-1780	9	38	jackson	jackson	PROPN
cblr-1780	9	39	,	,	PUNCT
cblr-1780	9	40	jr	jr	PROPN
cblr-1780	9	41	.	.	PROPN
cblr-1780	9	42	,	,	PUNCT
cblr-1780	9	43	justin	justin	PROPN
cblr-1780	9	44	levitt	levitt	PROPN
cblr-1780	9	45	,	,	PUNCT
cblr-1780	9	46	elizabeth	elizabeth	PROPN
cblr-1780	9	47	pollman	pollman	PROPN
cblr-1780	9	48	,	,	PUNCT
cblr-1780	9	49	allison	allison	PROPN
cblr-1780	9	50	quaglino	quaglino	PROPN
cblr-1780	9	51	,	,	PUNCT
cblr-1780	9	52	tracy	tracy	PROPN
cblr-1780	9	53	yue	yue	PROPN
cblr-1780	9	54	wang	wang	PROPN
cblr-1780	9	55	,	,	PUNCT
cblr-1780	9	56	and	and	CCONJ
cblr-1780	9	57	michael	michael	PROPN
cblr-1780	9	58	waterstone	waterstone	PROPN
cblr-1780	9	59	for	for	ADP
cblr-1780	9	60	very	very	ADV
cblr-1780	9	61	helpful	helpful	ADJ
cblr-1780	9	62	comments	comment	NOUN
cblr-1780	9	63	on	on	ADP
cblr-1780	9	64	earlier	early	ADJ
cblr-1780	9	65	drafts	draft	NOUN
cblr-1780	9	66	of	of	ADP
cblr-1780	9	67	this	this	DET
cblr-1780	9	68	article	article	NOUN
cblr-1780	9	69	.	.	PUNCT
cblr-1780	10	1	guttentag	guttentag	NOUN
cblr-1780	10	2	–	–	PUNCT
cblr-1780	10	3	final	final	ADJ
cblr-1780	10	4	594	594	NUM
cblr-1780	10	5	columbia	columbia	PROPN
cblr-1780	10	6	business	business	NOUN
cblr-1780	10	7	law	law	PROPN
cblr-1780	10	8	review	review	NOUN
cblr-1780	11	1	[	[	X
cblr-1780	11	2	vol	vol	NOUN
cblr-1780	11	3	.	.	PUNCT
cblr-1780	11	4	2014	2014	NUM
cblr-1780	11	5	c.	c.	PROPN
cblr-1780	11	6	expressive	expressive	PROPN
cblr-1780	11	7	investor	investor	NOUN
cblr-1780	11	8	protection	protection	NOUN
cblr-1780	11	9	and	and	CCONJ
cblr-1780	11	10	political	political	ADJ
cblr-1780	11	11	spending	spending	NOUN
cblr-1780	11	12	..............................................................	..............................................................	PUNCT
cblr-1780	11	13	616	616	NUM
cblr-1780	11	14	d.	d.	PROPN
cblr-1780	11	15	problems	problem	NOUN
cblr-1780	11	16	with	with	ADP
cblr-1780	11	17	the	the	DET
cblr-1780	11	18	expressive	expressive	ADJ
cblr-1780	11	19	investor	investor	NOUN
cblr-1780	11	20	protection	protection	NOUN
cblr-1780	11	21	argument	argument	NOUN
cblr-1780	11	22	...........................................	...........................................	PUNCT
cblr-1780	11	23	619	619	NUM
cblr-1780	11	24	e.	e.	NOUN
cblr-1780	11	25	market	market	NOUN
cblr-1780	11	26	failures	failure	NOUN
cblr-1780	11	27	and	and	CCONJ
cblr-1780	11	28	the	the	DET
cblr-1780	11	29	mandatory	mandatory	ADJ
cblr-1780	11	30	disclosure	disclosure	NOUN
cblr-1780	11	31	of	of	ADP
cblr-1780	11	32	political	political	ADJ
cblr-1780	11	33	spending	spending	NOUN
cblr-1780	11	34	..........................	..........................	PUNCT
cblr-1780	11	35	627	627	NUM
cblr-1780	11	36	iii	iii	NOUN
cblr-1780	11	37	.	.	PUNCT
cblr-1780	12	1	a	a	DET
cblr-1780	12	2	general	general	ADJ
cblr-1780	12	3	theory	theory	NOUN
cblr-1780	12	4	of	of	ADP
cblr-1780	12	5	how	how	SCONJ
cblr-1780	12	6	to	to	PART
cblr-1780	12	7	evaluate	evaluate	VERB
cblr-1780	12	8	a	a	DET
cblr-1780	12	9	topicspecific	topicspecific	ADJ
cblr-1780	12	10	disclosure	disclosure	NOUN
cblr-1780	12	11	requirement	requirement	NOUN
cblr-1780	12	12	...............................	...............................	PUNCT
cblr-1780	12	13	630	630	NUM
cblr-1780	12	14	a.	a.	NOUN
cblr-1780	12	15	presumption	presumption	NOUN
cblr-1780	12	16	against	against	ADP
cblr-1780	12	17	regulatory	regulatory	ADJ
cblr-1780	12	18	intervention	intervention	NOUN
cblr-1780	12	19	..	..	PUNCT
cblr-1780	12	20	630	630	NUM
cblr-1780	12	21	b.	b.	NOUN
cblr-1780	12	22	market	market	NOUN
cblr-1780	12	23	failure	failure	NOUN
cblr-1780	12	24	justifications	justification	NOUN
cblr-1780	12	25	for	for	ADP
cblr-1780	12	26	regulatory	regulatory	ADJ
cblr-1780	12	27	intervention	intervention	NOUN
cblr-1780	12	28	.........................................................	.........................................................	PUNCT
cblr-1780	13	1	637	637	NUM
cblr-1780	13	2	1	1	NUM
cblr-1780	13	3	.	.	PUNCT
cblr-1780	13	4	positive	positive	ADJ
cblr-1780	13	5	externalities	externality	NOUN
cblr-1780	13	6	and	and	CCONJ
cblr-1780	13	7	topic	topic	NOUN
cblr-1780	13	8	-	-	PUNCT
cblr-1780	13	9	specific	specific	ADJ
cblr-1780	13	10	disclosure	disclosure	NOUN
cblr-1780	13	11	requirements	requirement	NOUN
cblr-1780	13	12	...............................	...............................	PUNCT
cblr-1780	13	13	638	638	NUM
cblr-1780	13	14	2	2	NUM
cblr-1780	13	15	.	.	PUNCT
cblr-1780	13	16	reducing	reduce	VERB
cblr-1780	13	17	tunneling	tunneling	NOUN
cblr-1780	13	18	and	and	CCONJ
cblr-1780	13	19	topic	topic	NOUN
cblr-1780	13	20	-	-	PUNCT
cblr-1780	13	21	specific	specific	ADJ
cblr-1780	13	22	disclosure	disclosure	NOUN
cblr-1780	13	23	requirements	requirement	NOUN
cblr-1780	13	24	...............................	...............................	PUNCT
cblr-1780	13	25	642	642	NUM
cblr-1780	13	26	iv	iv	NOUN
cblr-1780	13	27	.	.	PUNCT
cblr-1780	14	1	the	the	DET
cblr-1780	14	2	general	general	ADJ
cblr-1780	14	3	theory	theory	NOUN
cblr-1780	14	4	applied	apply	VERB
cblr-1780	14	5	to	to	ADP
cblr-1780	14	6	a	a	DET
cblr-1780	14	7	political	political	ADJ
cblr-1780	14	8	spending	spending	NOUN
cblr-1780	14	9	disclosure	disclosure	NOUN
cblr-1780	14	10	requirement	requirement	NOUN
cblr-1780	14	11	............................	............................	PUNCT
cblr-1780	14	12	645	645	NUM
cblr-1780	14	13	a.	a.	NOUN
cblr-1780	14	14	positive	positive	ADJ
cblr-1780	14	15	externalities	externality	NOUN
cblr-1780	14	16	and	and	CCONJ
cblr-1780	14	17	political	political	ADJ
cblr-1780	14	18	spending	spending	NOUN
cblr-1780	14	19	disclosure	disclosure	NOUN
cblr-1780	14	20	............................................................	............................................................	PUNCT
cblr-1780	14	21	646	646	NUM
cblr-1780	14	22	b.	b.	NOUN
cblr-1780	14	23	reducing	reduce	VERB
cblr-1780	14	24	tunneling	tunneling	NOUN
cblr-1780	14	25	and	and	CCONJ
cblr-1780	14	26	political	political	ADJ
cblr-1780	14	27	spending	spending	NOUN
cblr-1780	14	28	disclosure	disclosure	NOUN
cblr-1780	14	29	............................................................	............................................................	PUNCT
cblr-1780	14	30	652	652	NUM
cblr-1780	14	31	v.	v.	ADP
cblr-1780	14	32	conclusion	conclusion	NOUN
cblr-1780	14	33	..................................................................	..................................................................	PUNCT
cblr-1780	14	34	661	661	NUM
cblr-1780	14	35	i.	i.	NOUN
cblr-1780	14	36	introduction	introduction	NOUN
cblr-1780	14	37	the	the	DET
cblr-1780	14	38	arguments	argument	NOUN
cblr-1780	14	39	for	for	ADP
cblr-1780	14	40	requiring	require	VERB
cblr-1780	14	41	public	public	ADJ
cblr-1780	14	42	companies	company	NOUN
cblr-1780	14	43	to	to	PART
cblr-1780	14	44	disclose	disclose	VERB
cblr-1780	14	45	their	their	PRON
cblr-1780	14	46	political	political	ADJ
cblr-1780	14	47	spending	spending	NOUN
cblr-1780	14	48	are	be	AUX
cblr-1780	14	49	certainly	certainly	ADV
cblr-1780	14	50	alluring	alluring	ADJ
cblr-1780	14	51	.	.	PUNCT
cblr-1780	15	1	political	political	ADJ
cblr-1780	15	2	spending	spending	NOUN
cblr-1780	15	3	is	be	AUX
cblr-1780	15	4	quite	quite	ADV
cblr-1780	15	5	similar	similar	ADJ
cblr-1780	15	6	to	to	ADP
cblr-1780	15	7	much	much	ADJ
cblr-1780	15	8	of	of	ADP
cblr-1780	15	9	the	the	DET
cblr-1780	15	10	information	information	NOUN
cblr-1780	15	11	public	public	ADJ
cblr-1780	15	12	companies	company	NOUN
cblr-1780	15	13	are	be	AUX
cblr-1780	15	14	already	already	ADV
cblr-1780	15	15	required	require	VERB
cblr-1780	15	16	to	to	ADP
cblr-1780	15	17	disclose.1	disclose.1	ADJ
cblr-1780	15	18	access	access	NOUN
cblr-1780	15	19	to	to	ADP
cblr-1780	15	20	this	this	DET
cblr-1780	15	21	information	information	NOUN
cblr-1780	15	22	would	would	AUX
cblr-1780	15	23	appear	appear	VERB
cblr-1780	15	24	to	to	PART
cblr-1780	15	25	be	be	AUX
cblr-1780	15	26	a	a	DET
cblr-1780	15	27	necessary	necessary	ADJ
cblr-1780	15	28	prerequisite	prerequisite	NOUN
cblr-1780	15	29	for	for	SCONJ
cblr-1780	15	30	shareholders	shareholder	NOUN
cblr-1780	15	31	to	to	PART
cblr-1780	15	32	exercise	exercise	VERB
cblr-1780	15	33	their	their	PRON
cblr-1780	15	34	basic	basic	ADJ
cblr-1780	15	35	rights	right	NOUN
cblr-1780	15	36	as	as	ADP
cblr-1780	15	37	the	the	DET
cblr-1780	15	38	firm	firm	NOUN
cblr-1780	15	39	’s	’s	NOUN
cblr-1780	15	40	owners.2	owners.2	ADV
cblr-1780	15	41	finally	finally	ADV
cblr-1780	15	42	,	,	PUNCT
cblr-1780	15	43	there	there	PRON
cblr-1780	15	44	are	be	VERB
cblr-1780	15	45	many	many	ADJ
cblr-1780	15	46	reasons	reason	NOUN
cblr-1780	15	47	to	to	PART
cblr-1780	15	48	suspect	suspect	VERB
cblr-1780	15	49	that	that	SCONJ
cblr-1780	15	50	private	private	ADJ
cblr-1780	15	51	ordering	ordering	NOUN
cblr-1780	15	52	alone	alone	ADV
cblr-1780	15	53	will	will	AUX
cblr-1780	15	54	not	not	PART
cblr-1780	15	55	lead	lead	VERB
cblr-1780	15	56	public	public	ADJ
cblr-1780	15	57	companies	company	NOUN
cblr-1780	15	58	to	to	PART
cblr-1780	15	59	adopt	adopt	VERB
cblr-1780	15	60	socially	socially	ADV
cblr-1780	15	61	optimal	optimal	ADJ
cblr-1780	15	62	disclosure	disclosure	NOUN
cblr-1780	15	63	policies.3	policies.3	NOUN
cblr-1780	15	64	1	1	NUM
cblr-1780	15	65	see	see	VERB
cblr-1780	15	66	infra	infra	NOUN
cblr-1780	15	67	part	part	NOUN
cblr-1780	15	68	ii.a	ii.a	NOUN
cblr-1780	15	69	.	.	PROPN
cblr-1780	15	70	2	2	NUM
cblr-1780	15	71	see	see	VERB
cblr-1780	15	72	infra	infra	NOUN
cblr-1780	15	73	part	part	NOUN
cblr-1780	15	74	ii.c	ii.c	VERB
cblr-1780	15	75	.	.	PUNCT
cblr-1780	16	1	3	3	NUM
cblr-1780	16	2	see	see	VERB
cblr-1780	16	3	infra	infra	NOUN
cblr-1780	16	4	parts	part	NOUN
cblr-1780	16	5	ii.e	ii.e	ADV
cblr-1780	16	6	and	and	CCONJ
cblr-1780	16	7	iii.b	iii.b	PROPN
cblr-1780	16	8	.	.	PUNCT
cblr-1780	16	9	guttentag	guttentag	NOUN
cblr-1780	16	10	–	–	PUNCT
cblr-1780	16	11	final	final	ADJ
cblr-1780	16	12	no	no	NOUN
cblr-1780	16	13	.	.	PUNCT
cblr-1780	17	1	3:593	3:593	NUM
cblr-1780	17	2	]	]	PUNCT
cblr-1780	17	3	on	on	ADP
cblr-1780	17	4	political	political	ADJ
cblr-1780	17	5	spending	spending	NOUN
cblr-1780	17	6	disclosure	disclosure	NOUN
cblr-1780	17	7	595	595	NUM
cblr-1780	17	8	these	these	DET
cblr-1780	17	9	arguments	argument	NOUN
cblr-1780	17	10	help	help	VERB
cblr-1780	17	11	to	to	PART
cblr-1780	17	12	explain	explain	VERB
cblr-1780	17	13	why	why	SCONJ
cblr-1780	17	14	a	a	DET
cblr-1780	17	15	preeminent	preeminent	ADJ
cblr-1780	17	16	group	group	NOUN
cblr-1780	17	17	of	of	ADP
cblr-1780	17	18	scholars	scholar	NOUN
cblr-1780	17	19	asked	ask	VERB
cblr-1780	17	20	the	the	DET
cblr-1780	17	21	securities	security	NOUN
cblr-1780	17	22	and	and	CCONJ
cblr-1780	17	23	exchange	exchange	PROPN
cblr-1780	17	24	commission	commission	PROPN
cblr-1780	17	25	(	(	PUNCT
cblr-1780	17	26	“	"	PUNCT
cblr-1780	17	27	sec	sec	PROPN
cblr-1780	17	28	”	"	PUNCT
cblr-1780	17	29	)	)	PUNCT
cblr-1780	17	30	to	to	PART
cblr-1780	17	31	develop	develop	VERB
cblr-1780	17	32	a	a	DET
cblr-1780	17	33	rule	rule	NOUN
cblr-1780	17	34	requiring	require	VERB
cblr-1780	17	35	disclosure	disclosure	NOUN
cblr-1780	17	36	of	of	ADP
cblr-1780	17	37	political	political	ADJ
cblr-1780	17	38	spending	spending	NOUN
cblr-1780	17	39	by	by	ADP
cblr-1780	17	40	public	public	ADJ
cblr-1780	17	41	companies,4	companies,4	NOUN
cblr-1780	17	42	and	and	CCONJ
cblr-1780	17	43	why	why	SCONJ
cblr-1780	17	44	their	their	PRON
cblr-1780	17	45	proposal	proposal	NOUN
cblr-1780	17	46	has	have	AUX
cblr-1780	17	47	received	receive	VERB
cblr-1780	17	48	an	an	DET
cblr-1780	17	49	unprecedented	unprecedented	ADJ
cblr-1780	17	50	amount	amount	NOUN
cblr-1780	17	51	of	of	ADP
cblr-1780	17	52	support.5	support.5	NOUN
cblr-1780	17	53	however	however	ADV
cblr-1780	17	54	,	,	PUNCT
cblr-1780	17	55	the	the	DET
cblr-1780	17	56	4	4	NUM
cblr-1780	17	57	a	a	DET
cblr-1780	17	58	committee	committee	NOUN
cblr-1780	17	59	co	co	VERB
cblr-1780	17	60	-	-	VERB
cblr-1780	17	61	chaired	chair	VERB
cblr-1780	17	62	by	by	ADP
cblr-1780	17	63	lucian	lucian	PROPN
cblr-1780	17	64	bebchuk	bebchuk	PROPN
cblr-1780	17	65	,	,	PUNCT
cblr-1780	17	66	harvard	harvard	PROPN
cblr-1780	17	67	law	law	PROPN
cblr-1780	17	68	school	school	NOUN
cblr-1780	17	69	,	,	PUNCT
cblr-1780	17	70	and	and	CCONJ
cblr-1780	17	71	robert	robert	PROPN
cblr-1780	17	72	j.	j.	PROPN
cblr-1780	17	73	jackson	jackson	PROPN
cblr-1780	17	74	,	,	PUNCT
cblr-1780	17	75	jr	jr	PROPN
cblr-1780	17	76	.	.	PROPN
cblr-1780	17	77	,	,	PUNCT
cblr-1780	17	78	columbia	columbia	PROPN
cblr-1780	17	79	law	law	PROPN
cblr-1780	17	80	school	school	NOUN
cblr-1780	17	81	,	,	PUNCT
cblr-1780	17	82	submitted	submit	VERB
cblr-1780	17	83	a	a	DET
cblr-1780	17	84	rulemaking	rulemake	VERB
cblr-1780	17	85	petition	petition	NOUN
cblr-1780	17	86	to	to	ADP
cblr-1780	17	87	the	the	DET
cblr-1780	17	88	securities	securities	PROPN
cblr-1780	17	89	and	and	CCONJ
cblr-1780	17	90	exchange	exchange	PROPN
cblr-1780	17	91	commission	commission	PROPN
cblr-1780	17	92	(	(	PUNCT
cblr-1780	17	93	sec	sec	PROPN
cblr-1780	17	94	)	)	PUNCT
cblr-1780	17	95	,	,	PUNCT
cblr-1780	17	96	requesting	request	VERB
cblr-1780	17	97	that	that	SCONJ
cblr-1780	17	98	“	"	PUNCT
cblr-1780	17	99	the	the	DET
cblr-1780	17	100	commission	commission	NOUN
cblr-1780	17	101	develop	develop	VERB
cblr-1780	17	102	rules	rule	NOUN
cblr-1780	17	103	to	to	PART
cblr-1780	17	104	require	require	VERB
cblr-1780	17	105	public	public	ADJ
cblr-1780	17	106	companies	company	NOUN
cblr-1780	17	107	to	to	PART
cblr-1780	17	108	disclose	disclose	VERB
cblr-1780	17	109	to	to	ADP
cblr-1780	17	110	shareholders	shareholder	NOUN
cblr-1780	17	111	the	the	DET
cblr-1780	17	112	use	use	NOUN
cblr-1780	17	113	of	of	ADP
cblr-1780	17	114	corporate	corporate	ADJ
cblr-1780	17	115	resources	resource	NOUN
cblr-1780	17	116	for	for	ADP
cblr-1780	17	117	political	political	ADJ
cblr-1780	17	118	activities	activity	NOUN
cblr-1780	17	119	.	.	PUNCT
cblr-1780	17	120	”	"	PUNCT
cblr-1780	17	121	letter	letter	NOUN
cblr-1780	17	122	from	from	ADP
cblr-1780	17	123	comm	comm	NOUN
cblr-1780	17	124	.	.	PUNCT
cblr-1780	18	1	on	on	ADP
cblr-1780	18	2	disclosure	disclosure	NOUN
cblr-1780	18	3	of	of	ADP
cblr-1780	18	4	corporate	corporate	ADJ
cblr-1780	18	5	political	political	ADJ
cblr-1780	18	6	spending	spending	NOUN
cblr-1780	18	7	to	to	ADP
cblr-1780	18	8	elizabeth	elizabeth	PROPN
cblr-1780	18	9	m.	m.	PROPN
cblr-1780	18	10	murphy	murphy	PROPN
cblr-1780	18	11	,	,	PUNCT
cblr-1780	18	12	sec’y	sec’y	NUM
cblr-1780	18	13	,	,	PUNCT
cblr-1780	18	14	u.s	u.s	PROPN
cblr-1780	18	15	.	.	PROPN
cblr-1780	18	16	sec	sec	PROPN
cblr-1780	18	17	.	.	PROPN
cblr-1780	18	18	&	&	CCONJ
cblr-1780	18	19	exch	exch	PROPN
cblr-1780	18	20	.	.	PUNCT
cblr-1780	18	21	comm’n	comm’n	PROPN
cblr-1780	18	22	(	(	PUNCT
cblr-1780	18	23	aug	aug	PROPN
cblr-1780	18	24	.	.	PROPN
cblr-1780	18	25	3	3	NUM
cblr-1780	18	26	,	,	PUNCT
cblr-1780	18	27	2011	2011	NUM
cblr-1780	18	28	)	)	PUNCT
cblr-1780	19	1	[	[	X
cblr-1780	19	2	hereinafter	hereinafter	NOUN
cblr-1780	19	3	bebchuk	bebchuk	NOUN
cblr-1780	19	4	petition	petition	PROPN
cblr-1780	19	5	]	]	PUNCT
cblr-1780	19	6	,	,	PUNCT
cblr-1780	19	7	available	available	ADJ
cblr-1780	19	8	at	at	ADP
cblr-1780	19	9	http://perma.cc/p75p-baf5	http://perma.cc/p75p-baf5	PROPN
cblr-1780	19	10	.	.	PUNCT
cblr-1780	20	1	the	the	DET
cblr-1780	20	2	other	other	ADJ
cblr-1780	20	3	co	co	NOUN
cblr-1780	20	4	-	-	NOUN
cblr-1780	20	5	authors	author	NOUN
cblr-1780	20	6	of	of	ADP
cblr-1780	20	7	the	the	DET
cblr-1780	20	8	bebchuk	bebchuk	NOUN
cblr-1780	20	9	petition	petition	NOUN
cblr-1780	20	10	are	be	AUX
cblr-1780	20	11	:	:	PUNCT
cblr-1780	20	12	bernard	bernard	PROPN
cblr-1780	20	13	s.	s.	PROPN
cblr-1780	20	14	black	black	PROPN
cblr-1780	20	15	,	,	PUNCT
cblr-1780	20	16	northwestern	northwestern	ADJ
cblr-1780	20	17	university	university	NOUN
cblr-1780	20	18	law	law	NOUN
cblr-1780	20	19	school	school	NOUN
cblr-1780	20	20	;	;	PUNCT
cblr-1780	20	21	john	john	PROPN
cblr-1780	20	22	c.	c.	PROPN
cblr-1780	20	23	coffee	coffee	PROPN
cblr-1780	20	24	,	,	PUNCT
cblr-1780	20	25	jr	jr	PROPN
cblr-1780	20	26	.	.	PROPN
cblr-1780	20	27	,	,	PUNCT
cblr-1780	20	28	columbia	columbia	PROPN
cblr-1780	20	29	law	law	PROPN
cblr-1780	20	30	school	school	NOUN
cblr-1780	20	31	;	;	PUNCT
cblr-1780	20	32	james	james	PROPN
cblr-1780	20	33	d.	d.	PROPN
cblr-1780	20	34	cox	cox	PROPN
cblr-1780	20	35	,	,	PUNCT
cblr-1780	20	36	duke	duke	PROPN
cblr-1780	20	37	law	law	PROPN
cblr-1780	20	38	school	school	NOUN
cblr-1780	20	39	;	;	PUNCT
cblr-1780	20	40	ronald	ronald	PROPN
cblr-1780	20	41	j.	j.	PROPN
cblr-1780	20	42	gilson	gilson	PROPN
cblr-1780	20	43	,	,	PUNCT
cblr-1780	20	44	stanford	stanford	PROPN
cblr-1780	20	45	law	law	PROPN
cblr-1780	20	46	school	school	PROPN
cblr-1780	20	47	and	and	CCONJ
cblr-1780	20	48	columbia	columbia	PROPN
cblr-1780	20	49	law	law	NOUN
cblr-1780	20	50	school	school	NOUN
cblr-1780	20	51	;	;	PUNCT
cblr-1780	20	52	jeffrey	jeffrey	PROPN
cblr-1780	20	53	n.	n.	PROPN
cblr-1780	20	54	gordon	gordon	PROPN
cblr-1780	20	55	,	,	PUNCT
cblr-1780	20	56	columbia	columbia	PROPN
cblr-1780	20	57	law	law	PROPN
cblr-1780	20	58	school	school	NOUN
cblr-1780	20	59	;	;	PUNCT
cblr-1780	20	60	henry	henry	PROPN
cblr-1780	20	61	hansmann	hansmann	PROPN
cblr-1780	20	62	,	,	PUNCT
cblr-1780	20	63	yale	yale	PROPN
cblr-1780	20	64	law	law	PROPN
cblr-1780	20	65	school	school	NOUN
cblr-1780	20	66	;	;	PUNCT
cblr-1780	20	67	donald	donald	PROPN
cblr-1780	20	68	c.	c.	PROPN
cblr-1780	20	69	langevoort	langevoort	PROPN
cblr-1780	20	70	,	,	PUNCT
cblr-1780	20	71	georgetown	georgetown	PROPN
cblr-1780	20	72	law	law	NOUN
cblr-1780	20	73	school	school	NOUN
cblr-1780	20	74	;	;	PUNCT
cblr-1780	20	75	and	and	CCONJ
cblr-1780	20	76	hillary	hillary	PROPN
cblr-1780	20	77	sale	sale	NOUN
cblr-1780	20	78	,	,	PUNCT
cblr-1780	20	79	washington	washington	PROPN
cblr-1780	20	80	university	university	PROPN
cblr-1780	20	81	in	in	ADP
cblr-1780	20	82	st	st	PROPN
cblr-1780	20	83	.	.	PROPN
cblr-1780	20	84	louis	louis	PROPN
cblr-1780	20	85	school	school	NOUN
cblr-1780	20	86	of	of	ADP
cblr-1780	20	87	law	law	NOUN
cblr-1780	20	88	.	.	PUNCT
cblr-1780	21	1	5	5	NUM
cblr-1780	21	2	the	the	DET
cblr-1780	21	3	sec	sec	PROPN
cblr-1780	21	4	received	receive	VERB
cblr-1780	21	5	over	over	ADP
cblr-1780	21	6	1,113,000	1,113,000	NUM
cblr-1780	21	7	comments	comment	NOUN
cblr-1780	21	8	in	in	ADP
cblr-1780	21	9	support	support	NOUN
cblr-1780	21	10	of	of	ADP
cblr-1780	21	11	such	such	DET
cblr-1780	21	12	a	a	DET
cblr-1780	21	13	requirement	requirement	NOUN
cblr-1780	21	14	as	as	ADP
cblr-1780	21	15	of	of	ADP
cblr-1780	21	16	september	september	PROPN
cblr-1780	21	17	13	13	NUM
cblr-1780	21	18	,	,	PUNCT
cblr-1780	21	19	2014	2014	NUM
cblr-1780	21	20	.	.	PUNCT
cblr-1780	22	1	u.s	u.s	PROPN
cblr-1780	22	2	.	.	PROPN
cblr-1780	22	3	sec	sec	PROPN
cblr-1780	22	4	.	.	PROPN
cblr-1780	22	5	&	&	CCONJ
cblr-1780	22	6	exch	exch	PROPN
cblr-1780	22	7	.	.	PUNCT
cblr-1780	23	1	comm’n	comm’n	PROPN
cblr-1780	23	2	,	,	PUNCT
cblr-1780	23	3	comments	comment	NOUN
cblr-1780	23	4	on	on	ADP
cblr-1780	23	5	rulemaking	rulemake	VERB
cblr-1780	23	6	petition	petition	NOUN
cblr-1780	23	7	:	:	PUNCT
cblr-1780	23	8	petition	petition	NOUN
cblr-1780	23	9	to	to	PART
cblr-1780	23	10	require	require	VERB
cblr-1780	23	11	public	public	ADJ
cblr-1780	23	12	companies	company	NOUN
cblr-1780	23	13	to	to	PART
cblr-1780	23	14	disclose	disclose	VERB
cblr-1780	23	15	to	to	ADP
cblr-1780	23	16	shareholders	shareholder	NOUN
cblr-1780	23	17	the	the	DET
cblr-1780	23	18	use	use	NOUN
cblr-1780	23	19	of	of	ADP
cblr-1780	23	20	corporate	corporate	ADJ
cblr-1780	23	21	resources	resource	NOUN
cblr-1780	23	22	for	for	ADP
cblr-1780	23	23	political	political	ADJ
cblr-1780	23	24	activities	activity	NOUN
cblr-1780	23	25	,	,	PUNCT
cblr-1780	23	26	file	file	VERB
cblr-1780	23	27	no	no	PRON
cblr-1780	23	28	.	.	NOUN
cblr-1780	24	1	4	4	NUM
cblr-1780	24	2	-	-	SYM
cblr-1780	24	3	637	637	NUM
cblr-1780	24	4	,	,	PUNCT
cblr-1780	24	5	available	available	ADJ
cblr-1780	24	6	at	at	ADP
cblr-1780	24	7	http://perma.cc/7spg-z8ky	http://perma.cc/7spg-z8ky	PROPN
cblr-1780	24	8	.	.	PUNCT
cblr-1780	25	1	see	see	VERB
cblr-1780	25	2	also	also	ADV
cblr-1780	25	3	nicholas	nicholas	PROPN
cblr-1780	25	4	confessore	confessore	PROPN
cblr-1780	25	5	,	,	PUNCT
cblr-1780	25	6	s.e.c	s.e.c	NOUN
cblr-1780	25	7	.	.	PUNCT
cblr-1780	26	1	gets	get	VERB
cblr-1780	26	2	plea	plea	NOUN
cblr-1780	26	3	:	:	PUNCT
cblr-1780	26	4	force	force	NOUN
cblr-1780	26	5	companies	company	NOUN
cblr-1780	26	6	to	to	ADP
cblr-1780	26	7	air	air	NOUN
cblr-1780	26	8	donations	donation	NOUN
cblr-1780	26	9	,	,	PUNCT
cblr-1780	26	10	n.y	n.y	PROPN
cblr-1780	26	11	.	.	PROPN
cblr-1780	26	12	times	times	PROPN
cblr-1780	26	13	,	,	PUNCT
cblr-1780	26	14	apr	apr	PROPN
cblr-1780	26	15	.	.	PROPN
cblr-1780	26	16	24	24	NUM
cblr-1780	26	17	,	,	PUNCT
cblr-1780	26	18	2013	2013	NUM
cblr-1780	26	19	,	,	PUNCT
cblr-1780	26	20	at	at	ADP
cblr-1780	26	21	a1	a1	NOUN
cblr-1780	26	22	.	.	PUNCT
cblr-1780	27	1	the	the	DET
cblr-1780	27	2	sec	sec	PROPN
cblr-1780	27	3	decided	decide	VERB
cblr-1780	27	4	at	at	ADP
cblr-1780	27	5	the	the	DET
cblr-1780	27	6	end	end	NOUN
cblr-1780	27	7	of	of	ADP
cblr-1780	27	8	2013	2013	NUM
cblr-1780	27	9	to	to	PART
cblr-1780	27	10	remove	remove	VERB
cblr-1780	27	11	consideration	consideration	NOUN
cblr-1780	27	12	of	of	ADP
cblr-1780	27	13	a	a	DET
cblr-1780	27	14	political	political	ADJ
cblr-1780	27	15	spending	spending	NOUN
cblr-1780	27	16	disclosure	disclosure	NOUN
cblr-1780	27	17	requirement	requirement	NOUN
cblr-1780	27	18	from	from	ADP
cblr-1780	27	19	its	its	PRON
cblr-1780	27	20	2014	2014	NUM
cblr-1780	27	21	agenda	agenda	NOUN
cblr-1780	27	22	.	.	PUNCT
cblr-1780	28	1	dina	dina	PROPN
cblr-1780	28	2	el	el	PROPN
cblr-1780	28	3	boghdady	boghdady	PROPN
cblr-1780	28	4	,	,	PUNCT
cblr-1780	28	5	sec	sec	PROPN
cblr-1780	28	6	drops	drop	VERB
cblr-1780	28	7	disclosures	disclosure	NOUN
cblr-1780	28	8	of	of	ADP
cblr-1780	28	9	corporate	corporate	ADJ
cblr-1780	28	10	political	political	ADJ
cblr-1780	28	11	spending	spending	NOUN
cblr-1780	28	12	from	from	ADP
cblr-1780	28	13	its	its	PRON
cblr-1780	28	14	priority	priority	NOUN
cblr-1780	28	15	list	list	NOUN
cblr-1780	28	16	,	,	PUNCT
cblr-1780	28	17	wash	wash	NOUN
cblr-1780	28	18	.	.	PUNCT
cblr-1780	29	1	post	post	NOUN
cblr-1780	29	2	,	,	PUNCT
cblr-1780	29	3	dec	dec	PROPN
cblr-1780	29	4	.	.	PROPN
cblr-1780	29	5	1	1	NUM
cblr-1780	29	6	,	,	PUNCT
cblr-1780	29	7	2013	2013	NUM
cblr-1780	29	8	,	,	PUNCT
cblr-1780	29	9	at	at	ADP
cblr-1780	29	10	a8	a8	PROPN
cblr-1780	29	11	.	.	PUNCT
cblr-1780	30	1	the	the	DET
cblr-1780	30	2	new	new	PROPN
cblr-1780	30	3	york	york	PROPN
cblr-1780	30	4	times	times	PROPN
cblr-1780	30	5	responded	respond	VERB
cblr-1780	30	6	with	with	ADP
cblr-1780	30	7	a	a	DET
cblr-1780	30	8	lead	lead	ADJ
cblr-1780	30	9	editorial	editorial	NOUN
cblr-1780	30	10	rebuking	rebuke	VERB
cblr-1780	30	11	the	the	DET
cblr-1780	30	12	sec	sec	PROPN
cblr-1780	30	13	’s	’s	PART
cblr-1780	30	14	decision	decision	NOUN
cblr-1780	30	15	.	.	PUNCT
cblr-1780	31	1	editorial	editorial	NOUN
cblr-1780	31	2	,	,	PUNCT
cblr-1780	31	3	keeping	keep	VERB
cblr-1780	31	4	shareholders	shareholder	NOUN
cblr-1780	31	5	in	in	ADP
cblr-1780	31	6	the	the	DET
cblr-1780	31	7	dark	dark	NOUN
cblr-1780	31	8	,	,	PUNCT
cblr-1780	31	9	n.y	n.y	PROPN
cblr-1780	31	10	.	.	PROPN
cblr-1780	31	11	times	times	PROPN
cblr-1780	31	12	,	,	PUNCT
cblr-1780	31	13	dec	dec	PROPN
cblr-1780	31	14	.	.	PROPN
cblr-1780	31	15	4	4	NUM
cblr-1780	31	16	,	,	PUNCT
cblr-1780	31	17	2013	2013	NUM
cblr-1780	31	18	,	,	PUNCT
cblr-1780	31	19	at	at	ADP
cblr-1780	31	20	a32	a32	PROPN
cblr-1780	31	21	(	(	PUNCT
cblr-1780	31	22	“	"	PUNCT
cblr-1780	31	23	good	good	ADJ
cblr-1780	31	24	corporate	corporate	ADJ
cblr-1780	31	25	governance	governance	NOUN
cblr-1780	31	26	requires	require	VERB
cblr-1780	31	27	that	that	SCONJ
cblr-1780	31	28	companies	company	NOUN
cblr-1780	31	29	are	be	AUX
cblr-1780	31	30	transparent	transparent	ADJ
cblr-1780	31	31	about	about	ADP
cblr-1780	31	32	their	their	PRON
cblr-1780	31	33	use	use	NOUN
cblr-1780	31	34	of	of	ADP
cblr-1780	31	35	corporate	corporate	ADJ
cblr-1780	31	36	resources	resource	NOUN
cblr-1780	32	1	[	[	X
cblr-1780	32	2	on	on	ADP
cblr-1780	32	3	political	political	ADJ
cblr-1780	32	4	spending	spending	NOUN
cblr-1780	32	5	]	]	PUNCT
cblr-1780	32	6	.	.	PUNCT
cblr-1780	33	1	shareholders	shareholder	NOUN
cblr-1780	33	2	know	know	VERB
cblr-1780	33	3	this	this	PRON
cblr-1780	33	4	and	and	CCONJ
cblr-1780	33	5	have	have	AUX
cblr-1780	33	6	demanded	demand	VERB
cblr-1780	33	7	disclosure	disclosure	NOUN
cblr-1780	33	8	.	.	PUNCT
cblr-1780	33	9	”	"	PUNCT
cblr-1780	33	10	)	)	PUNCT
cblr-1780	33	11	.	.	PUNCT
cblr-1780	34	1	a	a	DET
cblr-1780	34	2	group	group	NOUN
cblr-1780	34	3	of	of	ADP
cblr-1780	34	4	seventeen	seventeen	NUM
cblr-1780	34	5	u.s	u.s	PROPN
cblr-1780	34	6	.	.	PROPN
cblr-1780	34	7	senators	senator	NOUN
cblr-1780	34	8	wrote	write	VERB
cblr-1780	34	9	a	a	DET
cblr-1780	34	10	letter	letter	NOUN
cblr-1780	34	11	to	to	ADP
cblr-1780	34	12	sec	sec	PROPN
cblr-1780	34	13	chair	chair	NOUN
cblr-1780	34	14	mary	mary	PROPN
cblr-1780	34	15	jo	jo	PROPN
cblr-1780	34	16	white	white	PROPN
cblr-1780	34	17	expressing	express	VERB
cblr-1780	34	18	their	their	PRON
cblr-1780	34	19	disappointment	disappointment	NOUN
cblr-1780	34	20	about	about	ADP
cblr-1780	34	21	the	the	DET
cblr-1780	34	22	apparent	apparent	ADJ
cblr-1780	34	23	non	non	ADJ
cblr-1780	34	24	-	-	NOUN
cblr-1780	34	25	decision	decision	NOUN
cblr-1780	34	26	.	.	PUNCT
cblr-1780	35	1	letter	letter	NOUN
cblr-1780	35	2	from	from	ADP
cblr-1780	35	3	robert	robert	PROPN
cblr-1780	35	4	j.	j.	PROPN
cblr-1780	35	5	menendez	menendez	PROPN
cblr-1780	35	6	,	,	PUNCT
cblr-1780	35	7	u.s	u.s	PROPN
cblr-1780	35	8	.	.	PROPN
cblr-1780	35	9	sen	sen	PROPN
cblr-1780	35	10	.	.	PROPN
cblr-1780	35	11	,	,	PUNCT
cblr-1780	35	12	et	et	PROPN
cblr-1780	35	13	al	al	PROPN
cblr-1780	35	14	.	.	PROPN
cblr-1780	35	15	,	,	PUNCT
cblr-1780	35	16	to	to	ADP
cblr-1780	35	17	mary	mary	PROPN
cblr-1780	35	18	jo	jo	PROPN
cblr-1780	35	19	white	white	PROPN
cblr-1780	35	20	,	,	PUNCT
cblr-1780	35	21	chair	chair	NOUN
cblr-1780	35	22	,	,	PUNCT
cblr-1780	35	23	u.s	u.s	PROPN
cblr-1780	35	24	.	.	PROPN
cblr-1780	35	25	sec	sec	PROPN
cblr-1780	35	26	.	.	PROPN
cblr-1780	35	27	&	&	CCONJ
cblr-1780	35	28	exch	exch	PROPN
cblr-1780	35	29	.	.	PUNCT
cblr-1780	36	1	comm’n	comm’n	PROPN
cblr-1780	36	2	(	(	PUNCT
cblr-1780	36	3	jan	jan	PROPN
cblr-1780	36	4	.	.	PROPN
cblr-1780	36	5	9	9	NUM
cblr-1780	36	6	,	,	PUNCT
cblr-1780	36	7	2014	2014	NUM
cblr-1780	36	8	)	)	PUNCT
cblr-1780	36	9	,	,	PUNCT
cblr-1780	36	10	available	available	ADJ
cblr-1780	36	11	at	at	ADP
cblr-1780	36	12	http://perma.cc/qxm2-bjud	http://perma.cc/qxm2-bjud	PROPN
cblr-1780	36	13	.	.	PUNCT
cblr-1780	37	1	see	see	VERB
cblr-1780	37	2	also	also	ADV
cblr-1780	37	3	john	john	PROPN
cblr-1780	37	4	coates	coates	PROPN
cblr-1780	37	5	,	,	PUNCT
cblr-1780	37	6	sec	sec	PROPN
cblr-1780	37	7	’s	’s	PART
cblr-1780	37	8	non	non	ADJ
cblr-1780	37	9	-	-	ADJ
cblr-1780	37	10	decision	decision	ADJ
cblr-1780	37	11	decision	decision	NOUN
cblr-1780	37	12	on	on	ADP
cblr-1780	37	13	corporate	corporate	ADJ
cblr-1780	37	14	political	political	ADJ
cblr-1780	37	15	activity	activity	NOUN
cblr-1780	37	16	a	a	DET
cblr-1780	37	17	policy	policy	NOUN
cblr-1780	37	18	and	and	CCONJ
cblr-1780	37	19	political	political	ADJ
cblr-1780	37	20	mistake	mistake	NOUN
cblr-1780	37	21	,	,	PUNCT
cblr-1780	37	22	harv	harv	NOUN
cblr-1780	37	23	.	.	PUNCT
cblr-1780	38	1	law	law	NOUN
cblr-1780	38	2	sch	sch	PROPN
cblr-1780	38	3	.	.	PROPN
cblr-1780	38	4	forum	forum	PROPN
cblr-1780	38	5	on	on	ADP
cblr-1780	38	6	corporate	corporate	ADJ
cblr-1780	38	7	governance	governance	NOUN
cblr-1780	38	8	&	&	CCONJ
cblr-1780	38	9	fin	fin	NOUN
cblr-1780	38	10	.	.	PUNCT
cblr-1780	39	1	regulation	regulation	NOUN
cblr-1780	39	2	(	(	PUNCT
cblr-1780	39	3	dec	dec	PROPN
cblr-1780	39	4	.	.	PROPN
cblr-1780	39	5	13	13	NUM
cblr-1780	39	6	,	,	PUNCT
cblr-1780	39	7	2013	2013	NUM
cblr-1780	39	8	,	,	PUNCT
cblr-1780	39	9	8:51	8:51	NUM
cblr-1780	39	10	am	am	NOUN
cblr-1780	39	11	)	)	PUNCT
cblr-1780	39	12	,	,	PUNCT
cblr-1780	39	13	http://perma.cc/8abc-rjg4	http://perma.cc/8abc-rjg4	PROPN
cblr-1780	39	14	.	.	PUNCT
cblr-1780	40	1	guttentag	guttentag	NOUN
cblr-1780	40	2	–	–	PUNCT
cblr-1780	40	3	final	final	ADJ
cblr-1780	40	4	596	596	NUM
cblr-1780	40	5	columbia	columbia	PROPN
cblr-1780	40	6	business	business	NOUN
cblr-1780	40	7	law	law	PROPN
cblr-1780	40	8	review	review	NOUN
cblr-1780	41	1	[	[	X
cblr-1780	41	2	vol	vol	NOUN
cblr-1780	41	3	.	.	PUNCT
cblr-1780	41	4	2014	2014	NUM
cblr-1780	41	5	arguments	argument	NOUN
cblr-1780	41	6	thus	thus	ADV
cblr-1780	41	7	far	far	ADV
cblr-1780	41	8	offered	offer	VERB
cblr-1780	41	9	for	for	ADP
cblr-1780	41	10	requiring	require	VERB
cblr-1780	41	11	public	public	ADJ
cblr-1780	41	12	companies	company	NOUN
cblr-1780	41	13	to	to	PART
cblr-1780	41	14	disclose	disclose	VERB
cblr-1780	41	15	political	political	ADJ
cblr-1780	41	16	spending	spending	NOUN
cblr-1780	41	17	are	be	AUX
cblr-1780	41	18	unpersuasive	unpersuasive	ADJ
cblr-1780	41	19	.	.	PUNCT
cblr-1780	42	1	an	an	DET
cblr-1780	42	2	argument	argument	NOUN
cblr-1780	42	3	based	base	VERB
cblr-1780	42	4	on	on	ADP
cblr-1780	42	5	similarities	similarity	NOUN
cblr-1780	42	6	between	between	ADP
cblr-1780	42	7	political	political	ADJ
cblr-1780	42	8	spending	spending	NOUN
cblr-1780	42	9	and	and	CCONJ
cblr-1780	42	10	information	information	NOUN
cblr-1780	42	11	that	that	SCONJ
cblr-1780	42	12	public	public	ADJ
cblr-1780	42	13	companies	company	NOUN
cblr-1780	42	14	are	be	AUX
cblr-1780	42	15	currently	currently	ADV
cblr-1780	42	16	required	require	VERB
cblr-1780	42	17	to	to	PART
cblr-1780	42	18	be	be	AUX
cblr-1780	42	19	disclosed	disclose	VERB
cblr-1780	42	20	ignores	ignore	VERB
cblr-1780	42	21	similarities	similarity	NOUN
cblr-1780	42	22	between	between	ADP
cblr-1780	42	23	political	political	ADJ
cblr-1780	42	24	spending	spending	NOUN
cblr-1780	42	25	and	and	CCONJ
cblr-1780	42	26	information	information	NOUN
cblr-1780	42	27	not	not	PART
cblr-1780	42	28	required	require	VERB
cblr-1780	42	29	to	to	PART
cblr-1780	42	30	be	be	AUX
cblr-1780	42	31	disclosed	disclose	VERB
cblr-1780	42	32	,	,	PUNCT
cblr-1780	42	33	and	and	CCONJ
cblr-1780	42	34	places	place	VERB
cblr-1780	42	35	unjustifiable	unjustifiable	ADJ
cblr-1780	42	36	reliance	reliance	NOUN
cblr-1780	42	37	on	on	ADP
cblr-1780	42	38	the	the	DET
cblr-1780	42	39	efficacy	efficacy	NOUN
cblr-1780	42	40	of	of	ADP
cblr-1780	42	41	existing	exist	VERB
cblr-1780	42	42	disclosure	disclosure	NOUN
cblr-1780	42	43	requirements.6	requirements.6	PROPN
cblr-1780	42	44	the	the	DET
cblr-1780	42	45	argument	argument	NOUN
cblr-1780	42	46	that	that	SCONJ
cblr-1780	42	47	mandatory	mandatory	ADJ
cblr-1780	42	48	political	political	ADJ
cblr-1780	42	49	spending	spending	NOUN
cblr-1780	42	50	disclosure	disclosure	NOUN
cblr-1780	42	51	is	be	AUX
cblr-1780	42	52	necessary	necessary	ADJ
cblr-1780	42	53	to	to	PART
cblr-1780	42	54	protect	protect	VERB
cblr-1780	42	55	shareholder	shareholder	NOUN
cblr-1780	42	56	rights	right	NOUN
cblr-1780	42	57	fails	fail	VERB
cblr-1780	42	58	to	to	PART
cblr-1780	42	59	explain	explain	VERB
cblr-1780	42	60	why	why	SCONJ
cblr-1780	42	61	the	the	DET
cblr-1780	42	62	federal	federal	ADJ
cblr-1780	42	63	government	government	NOUN
cblr-1780	42	64	should	should	AUX
cblr-1780	42	65	grant	grant	VERB
cblr-1780	42	66	expressive	expressive	ADJ
cblr-1780	42	67	protection	protection	NOUN
cblr-1780	42	68	to	to	ADP
cblr-1780	42	69	public	public	ADJ
cblr-1780	42	70	company	company	NOUN
cblr-1780	42	71	shareholders	shareholder	NOUN
cblr-1780	42	72	or	or	CCONJ
cblr-1780	42	73	to	to	PART
cblr-1780	42	74	acknowledge	acknowledge	VERB
cblr-1780	42	75	the	the	DET
cblr-1780	42	76	degree	degree	NOUN
cblr-1780	42	77	to	to	PART
cblr-1780	42	78	which	which	PRON
cblr-1780	42	79	voluntary	voluntary	ADJ
cblr-1780	42	80	disclosures	disclosure	NOUN
cblr-1780	42	81	already	already	ADV
cblr-1780	42	82	provide	provide	VERB
cblr-1780	42	83	such	such	ADJ
cblr-1780	42	84	protection	protection	NOUN
cblr-1780	42	85	to	to	ADP
cblr-1780	42	86	concerned	concerned	ADJ
cblr-1780	42	87	investors.7	investors.7	NOUN
cblr-1780	42	88	finally	finally	ADV
cblr-1780	42	89	,	,	PUNCT
cblr-1780	42	90	observing	observe	VERB
cblr-1780	42	91	that	that	SCONJ
cblr-1780	42	92	market	market	NOUN
cblr-1780	42	93	failures	failure	NOUN
cblr-1780	42	94	can	can	AUX
cblr-1780	42	95	distort	distort	VERB
cblr-1780	42	96	public	public	ADJ
cblr-1780	42	97	company	company	NOUN
cblr-1780	42	98	disclosure	disclosure	NOUN
cblr-1780	42	99	policies	policy	NOUN
cblr-1780	42	100	only	only	ADV
cblr-1780	42	101	begins	begin	VERB
cblr-1780	42	102	the	the	DET
cblr-1780	42	103	process	process	NOUN
cblr-1780	42	104	of	of	ADP
cblr-1780	42	105	evaluating	evaluate	VERB
cblr-1780	42	106	a	a	DET
cblr-1780	42	107	topic	topic	NOUN
cblr-1780	42	108	-	-	PUNCT
cblr-1780	42	109	specific	specific	ADJ
cblr-1780	42	110	disclosure	disclosure	NOUN
cblr-1780	42	111	proposal.8	proposal.8	PROPN
cblr-1780	42	112	to	to	PART
cblr-1780	42	113	advance	advance	VERB
cblr-1780	42	114	the	the	DET
cblr-1780	42	115	debate	debate	NOUN
cblr-1780	42	116	about	about	ADP
cblr-1780	42	117	political	political	ADJ
cblr-1780	42	118	spending	spending	NOUN
cblr-1780	42	119	disclosure	disclosure	NOUN
cblr-1780	42	120	it	it	PRON
cblr-1780	42	121	is	be	AUX
cblr-1780	42	122	necessary	necessary	ADJ
cblr-1780	42	123	to	to	PART
cblr-1780	42	124	first	first	ADV
cblr-1780	42	125	answer	answer	VERB
cblr-1780	42	126	a	a	DET
cblr-1780	42	127	more	more	ADV
cblr-1780	42	128	general	general	ADJ
cblr-1780	42	129	question	question	NOUN
cblr-1780	42	130	:	:	PUNCT
cblr-1780	42	131	how	how	SCONJ
cblr-1780	42	132	the	the	DET
cblr-1780	42	133	efficacy	efficacy	NOUN
cblr-1780	42	134	of	of	ADP
cblr-1780	42	135	any	any	DET
cblr-1780	42	136	topic	topic	NOUN
cblr-1780	42	137	-	-	PUNCT
cblr-1780	42	138	specific	specific	ADJ
cblr-1780	42	139	disclosure	disclosure	NOUN
cblr-1780	42	140	requirement	requirement	NOUN
cblr-1780	42	141	should	should	AUX
cblr-1780	42	142	be	be	AUX
cblr-1780	42	143	evaluated	evaluate	VERB
cblr-1780	42	144	.	.	PUNCT
cblr-1780	43	1	in	in	ADP
cblr-1780	43	2	part	part	NOUN
cblr-1780	43	3	iii	iii	NOUN
cblr-1780	43	4	of	of	ADP
cblr-1780	43	5	this	this	DET
cblr-1780	43	6	article	article	NOUN
cblr-1780	43	7	,	,	PUNCT
cblr-1780	43	8	i	i	PRON
cblr-1780	43	9	answer	answer	VERB
cblr-1780	43	10	this	this	DET
cblr-1780	43	11	more	more	ADV
cblr-1780	43	12	general	general	ADJ
cblr-1780	43	13	question	question	NOUN
cblr-1780	43	14	.	.	PUNCT
cblr-1780	44	1	the	the	DET
cblr-1780	44	2	answer	answer	NOUN
cblr-1780	44	3	makes	make	VERB
cblr-1780	44	4	two	two	NUM
cblr-1780	44	5	claims	claim	NOUN
cblr-1780	44	6	.	.	PUNCT
cblr-1780	45	1	the	the	DET
cblr-1780	45	2	first	first	ADJ
cblr-1780	45	3	claim	claim	NOUN
cblr-1780	45	4	is	be	AUX
cblr-1780	45	5	that	that	SCONJ
cblr-1780	45	6	the	the	DET
cblr-1780	45	7	presumption	presumption	NOUN
cblr-1780	45	8	should	should	AUX
cblr-1780	45	9	be	be	AUX
cblr-1780	45	10	against	against	ADP
cblr-1780	45	11	imposing	impose	VERB
cblr-1780	45	12	new	new	ADJ
cblr-1780	45	13	topic	topic	NOUN
cblr-1780	45	14	-	-	PUNCT
cblr-1780	45	15	specific	specific	ADJ
cblr-1780	45	16	disclosure	disclosure	NOUN
cblr-1780	45	17	requirements	requirement	NOUN
cblr-1780	45	18	on	on	ADP
cblr-1780	45	19	public	public	ADJ
cblr-1780	45	20	companies	company	NOUN
cblr-1780	45	21	because	because	SCONJ
cblr-1780	45	22	of	of	ADP
cblr-1780	45	23	:	:	PUNCT
cblr-1780	45	24	(	(	PUNCT
cblr-1780	45	25	1	1	X
cblr-1780	45	26	)	)	PUNCT
cblr-1780	45	27	the	the	DET
cblr-1780	45	28	breadth	breadth	NOUN
cblr-1780	45	29	of	of	ADP
cblr-1780	45	30	the	the	DET
cblr-1780	45	31	materiality	materiality	NOUN
cblr-1780	45	32	disclosure	disclosure	NOUN
cblr-1780	45	33	obligation	obligation	NOUN
cblr-1780	45	34	already	already	ADV
cblr-1780	45	35	imposed	impose	VERB
cblr-1780	45	36	on	on	ADP
cblr-1780	45	37	these	these	DET
cblr-1780	45	38	companies	company	NOUN
cblr-1780	45	39	,	,	PUNCT
cblr-1780	45	40	(	(	PUNCT
cblr-1780	45	41	2	2	X
cblr-1780	45	42	)	)	PUNCT
cblr-1780	45	43	the	the	DET
cblr-1780	45	44	heterogeneity	heterogeneity	NOUN
cblr-1780	45	45	among	among	ADP
cblr-1780	45	46	firms	firm	NOUN
cblr-1780	45	47	subject	subject	ADJ
cblr-1780	45	48	to	to	ADP
cblr-1780	45	49	the	the	DET
cblr-1780	45	50	mandatory	mandatory	ADJ
cblr-1780	45	51	disclosure	disclosure	NOUN
cblr-1780	45	52	regime	regime	NOUN
cblr-1780	45	53	,	,	PUNCT
cblr-1780	45	54	(	(	PUNCT
cblr-1780	45	55	3	3	X
cblr-1780	45	56	)	)	PUNCT
cblr-1780	45	57	the	the	DET
cblr-1780	45	58	increasing	increase	VERB
cblr-1780	45	59	ease	ease	NOUN
cblr-1780	45	60	with	with	ADP
cblr-1780	45	61	which	which	PRON
cblr-1780	45	62	firms	firm	NOUN
cblr-1780	45	63	can	can	AUX
cblr-1780	45	64	avoid	avoid	VERB
cblr-1780	45	65	public	public	ADJ
cblr-1780	45	66	company	company	NOUN
cblr-1780	45	67	disclosure	disclosure	NOUN
cblr-1780	45	68	obligations	obligation	NOUN
cblr-1780	45	69	,	,	PUNCT
cblr-1780	45	70	(	(	PUNCT
cblr-1780	45	71	4	4	X
cblr-1780	45	72	)	)	PUNCT
cblr-1780	45	73	the	the	DET
cblr-1780	45	74	efficacy	efficacy	NOUN
cblr-1780	45	75	of	of	ADP
cblr-1780	45	76	private	private	ADJ
cblr-1780	45	77	ordering	ordering	NOUN
cblr-1780	45	78	,	,	PUNCT
cblr-1780	45	79	and	and	CCONJ
cblr-1780	45	80	(	(	PUNCT
cblr-1780	45	81	5	5	X
cblr-1780	45	82	)	)	PUNCT
cblr-1780	45	83	challenges	challenge	NOUN
cblr-1780	45	84	to	to	ADP
cblr-1780	45	85	removing	remove	VERB
cblr-1780	45	86	disclosure	disclosure	NOUN
cblr-1780	45	87	requirements	requirement	NOUN
cblr-1780	45	88	once	once	ADV
cblr-1780	45	89	imposed.9	imposed.9	PROPN
cblr-1780	45	90	earlier	early	ADV
cblr-1780	45	91	editorials	editorial	NOUN
cblr-1780	45	92	on	on	ADP
cblr-1780	45	93	the	the	DET
cblr-1780	45	94	mandatory	mandatory	ADJ
cblr-1780	45	95	disclosure	disclosure	NOUN
cblr-1780	45	96	of	of	ADP
cblr-1780	45	97	political	political	ADJ
cblr-1780	45	98	spending	spending	NOUN
cblr-1780	45	99	by	by	ADP
cblr-1780	45	100	public	public	ADJ
cblr-1780	45	101	companies	company	NOUN
cblr-1780	45	102	include	include	VERB
cblr-1780	45	103	:	:	PUNCT
cblr-1780	45	104	editorial	editorial	ADJ
cblr-1780	45	105	,	,	PUNCT
cblr-1780	45	106	corporate	corporate	ADJ
cblr-1780	45	107	donations	donation	NOUN
cblr-1780	45	108	and	and	CCONJ
cblr-1780	45	109	the	the	DET
cblr-1780	45	110	s.e.c	s.e.c	NOUN
cblr-1780	45	111	.	.	PUNCT
cblr-1780	45	112	,	,	PUNCT
cblr-1780	45	113	n.y	n.y	PROPN
cblr-1780	45	114	.	.	PROPN
cblr-1780	45	115	times	times	PROPN
cblr-1780	45	116	,	,	PUNCT
cblr-1780	45	117	apr	apr	PROPN
cblr-1780	45	118	.	.	PROPN
cblr-1780	45	119	25	25	NUM
cblr-1780	45	120	,	,	PUNCT
cblr-1780	45	121	2013	2013	NUM
cblr-1780	45	122	,	,	PUNCT
cblr-1780	45	123	at	at	ADP
cblr-1780	45	124	a30	a30	NOUN
cblr-1780	45	125	;	;	PUNCT
cblr-1780	45	126	editorial	editorial	NOUN
cblr-1780	45	127	,	,	PUNCT
cblr-1780	45	128	serving	serve	VERB
cblr-1780	45	129	shareholders	shareholder	NOUN
cblr-1780	45	130	and	and	CCONJ
cblr-1780	45	131	democracy	democracy	NOUN
cblr-1780	45	132	,	,	PUNCT
cblr-1780	45	133	n.y	n.y	PROPN
cblr-1780	45	134	.	.	PROPN
cblr-1780	45	135	times	times	PROPN
cblr-1780	45	136	,	,	PUNCT
cblr-1780	45	137	aug	aug	PROPN
cblr-1780	45	138	.	.	PROPN
cblr-1780	45	139	10	10	NUM
cblr-1780	45	140	,	,	PUNCT
cblr-1780	45	141	2011	2011	NUM
cblr-1780	45	142	,	,	PUNCT
cblr-1780	45	143	at	at	ADP
cblr-1780	45	144	a22	a22	NUM
cblr-1780	45	145	;	;	PUNCT
cblr-1780	45	146	and	and	CCONJ
cblr-1780	45	147	editorial	editorial	NOUN
cblr-1780	45	148	,	,	PUNCT
cblr-1780	45	149	the	the	DET
cblr-1780	45	150	corporate	corporate	ADJ
cblr-1780	45	151	disclosure	disclosure	NOUN
cblr-1780	45	152	assault	assault	NOUN
cblr-1780	45	153	,	,	PUNCT
cblr-1780	45	154	wall	wall	PROPN
cblr-1780	45	155	st	st	PROPN
cblr-1780	45	156	.	.	PROPN
cblr-1780	45	157	j.	j.	PROPN
cblr-1780	45	158	,	,	PUNCT
cblr-1780	45	159	mar	mar	PROPN
cblr-1780	45	160	.	.	PROPN
cblr-1780	45	161	19	19	NUM
cblr-1780	45	162	,	,	PUNCT
cblr-1780	45	163	2012	2012	NUM
cblr-1780	45	164	,	,	PUNCT
cblr-1780	45	165	at	at	ADP
cblr-1780	45	166	a16	a16	PROPN
cblr-1780	45	167	.	.	PROPN
cblr-1780	46	1	6	6	NUM
cblr-1780	46	2	see	see	VERB
cblr-1780	46	3	infra	infra	NOUN
cblr-1780	46	4	part	part	NOUN
cblr-1780	46	5	ii.b	ii.b	NOUN
cblr-1780	46	6	.	.	PUNCT
cblr-1780	47	1	7	7	NUM
cblr-1780	47	2	see	see	VERB
cblr-1780	47	3	infra	infra	NOUN
cblr-1780	47	4	part	part	VERB
cblr-1780	47	5	ii.d	ii.d	PRON
cblr-1780	47	6	.	.	PUNCT
cblr-1780	48	1	8	8	NUM
cblr-1780	48	2	see	see	VERB
cblr-1780	48	3	infra	infra	NOUN
cblr-1780	48	4	parts	part	NOUN
cblr-1780	48	5	ii.e	ii.e	ADV
cblr-1780	48	6	and	and	CCONJ
cblr-1780	48	7	iii	iii	X
cblr-1780	48	8	.	.	NOUN
cblr-1780	48	9	9	9	NUM
cblr-1780	48	10	see	see	VERB
cblr-1780	48	11	infra	infra	NOUN
cblr-1780	48	12	part	part	NOUN
cblr-1780	48	13	iii.a	iii.a	PROPN
cblr-1780	48	14	.	.	PUNCT
cblr-1780	48	15	guttentag	guttentag	NOUN
cblr-1780	48	16	–	–	PUNCT
cblr-1780	48	17	final	final	ADJ
cblr-1780	48	18	no	no	NOUN
cblr-1780	48	19	.	.	PUNCT
cblr-1780	49	1	3:593	3:593	NUM
cblr-1780	49	2	]	]	PUNCT
cblr-1780	49	3	on	on	ADP
cblr-1780	49	4	political	political	ADJ
cblr-1780	49	5	spending	spending	NOUN
cblr-1780	49	6	disclosure	disclosure	NOUN
cblr-1780	49	7	597	597	NUM
cblr-1780	49	8	the	the	DET
cblr-1780	49	9	second	second	ADJ
cblr-1780	49	10	claim	claim	NOUN
cblr-1780	49	11	about	about	ADP
cblr-1780	49	12	how	how	SCONJ
cblr-1780	49	13	to	to	PART
cblr-1780	49	14	evaluate	evaluate	VERB
cblr-1780	49	15	the	the	DET
cblr-1780	49	16	efficacy	efficacy	NOUN
cblr-1780	49	17	of	of	ADP
cblr-1780	49	18	any	any	DET
cblr-1780	49	19	topic	topic	NOUN
cblr-1780	49	20	-	-	PUNCT
cblr-1780	49	21	specific	specific	ADJ
cblr-1780	49	22	disclosure	disclosure	NOUN
cblr-1780	49	23	requirement	requirement	NOUN
cblr-1780	49	24	is	be	AUX
cblr-1780	49	25	that	that	SCONJ
cblr-1780	49	26	the	the	DET
cblr-1780	49	27	presumption	presumption	NOUN
cblr-1780	49	28	against	against	ADP
cblr-1780	49	29	creating	create	VERB
cblr-1780	49	30	new	new	ADJ
cblr-1780	49	31	topic	topic	NOUN
cblr-1780	49	32	-	-	PUNCT
cblr-1780	49	33	specific	specific	ADJ
cblr-1780	49	34	disclosure	disclosure	NOUN
cblr-1780	49	35	requirements	requirement	NOUN
cblr-1780	49	36	should	should	AUX
cblr-1780	49	37	only	only	ADV
cblr-1780	49	38	be	be	AUX
cblr-1780	49	39	set	set	VERB
cblr-1780	49	40	aside	aside	ADV
cblr-1780	49	41	if	if	SCONJ
cblr-1780	49	42	there	there	PRON
cblr-1780	49	43	is	be	VERB
cblr-1780	49	44	evidence	evidence	NOUN
cblr-1780	49	45	that	that	SCONJ
cblr-1780	49	46	such	such	DET
cblr-1780	49	47	a	a	DET
cblr-1780	49	48	requirement	requirement	NOUN
cblr-1780	49	49	will	will	AUX
cblr-1780	49	50	effectively	effectively	ADV
cblr-1780	49	51	address	address	VERB
cblr-1780	49	52	one	one	NUM
cblr-1780	49	53	of	of	ADP
cblr-1780	49	54	two	two	NUM
cblr-1780	49	55	market	market	NOUN
cblr-1780	49	56	failures	failure	NOUN
cblr-1780	49	57	.	.	PUNCT
cblr-1780	50	1	the	the	DET
cblr-1780	50	2	two	two	NUM
cblr-1780	50	3	market	market	NOUN
cblr-1780	50	4	failures	failure	NOUN
cblr-1780	50	5	that	that	PRON
cblr-1780	50	6	justify	justify	VERB
cblr-1780	50	7	regulating	regulate	VERB
cblr-1780	50	8	public	public	ADJ
cblr-1780	50	9	company	company	NOUN
cblr-1780	50	10	disclosures	disclosure	NOUN
cblr-1780	50	11	are	be	AUX
cblr-1780	50	12	those	those	PRON
cblr-1780	50	13	caused	cause	VERB
cblr-1780	50	14	by	by	ADP
cblr-1780	50	15	positive	positive	ADJ
cblr-1780	50	16	externalities	externality	NOUN
cblr-1780	50	17	and	and	CCONJ
cblr-1780	50	18	by	by	ADP
cblr-1780	50	19	excessive	excessive	ADJ
cblr-1780	50	20	tunneling.10	tunneling.10	ADP
cblr-1780	50	21	positive	positive	ADJ
cblr-1780	50	22	externalities	externality	NOUN
cblr-1780	50	23	can	can	AUX
cblr-1780	50	24	distort	distort	VERB
cblr-1780	50	25	public	public	ADJ
cblr-1780	50	26	company	company	NOUN
cblr-1780	50	27	disclosure	disclosure	NOUN
cblr-1780	50	28	policies	policy	NOUN
cblr-1780	50	29	when	when	SCONJ
cblr-1780	50	30	these	these	DET
cblr-1780	50	31	firms	firm	NOUN
cblr-1780	50	32	are	be	AUX
cblr-1780	50	33	unable	unable	ADJ
cblr-1780	50	34	to	to	PART
cblr-1780	50	35	capture	capture	VERB
cblr-1780	50	36	all	all	PRON
cblr-1780	50	37	of	of	ADP
cblr-1780	50	38	the	the	DET
cblr-1780	50	39	benefits	benefit	NOUN
cblr-1780	50	40	their	their	PRON
cblr-1780	50	41	disclosures	disclosure	NOUN
cblr-1780	50	42	provide	provide	VERB
cblr-1780	50	43	to	to	ADP
cblr-1780	50	44	others	other	NOUN
cblr-1780	50	45	.	.	PUNCT
cblr-1780	51	1	tunneling	tunnel	VERB
cblr-1780	51	2	,	,	PUNCT
cblr-1780	51	3	which	which	PRON
cblr-1780	51	4	occurs	occur	VERB
cblr-1780	51	5	when	when	SCONJ
cblr-1780	51	6	insiders	insider	NOUN
cblr-1780	51	7	take	take	VERB
cblr-1780	51	8	assets	asset	NOUN
cblr-1780	51	9	from	from	ADP
cblr-1780	51	10	the	the	DET
cblr-1780	51	11	firm	firm	NOUN
cblr-1780	51	12	at	at	ADP
cblr-1780	51	13	a	a	DET
cblr-1780	51	14	discount	discount	NOUN
cblr-1780	51	15	to	to	ADP
cblr-1780	51	16	their	their	PRON
cblr-1780	51	17	real	real	ADJ
cblr-1780	51	18	value	value	NOUN
cblr-1780	51	19	,	,	PUNCT
cblr-1780	51	20	can	can	AUX
cblr-1780	51	21	create	create	VERB
cblr-1780	51	22	incentives	incentive	NOUN
cblr-1780	51	23	for	for	ADP
cblr-1780	51	24	those	those	PRON
cblr-1780	51	25	in	in	ADP
cblr-1780	51	26	control	control	NOUN
cblr-1780	51	27	of	of	ADP
cblr-1780	51	28	the	the	DET
cblr-1780	51	29	firm	firm	NOUN
cblr-1780	51	30	to	to	PART
cblr-1780	51	31	implement	implement	VERB
cblr-1780	51	32	opaque	opaque	ADJ
cblr-1780	51	33	disclosure	disclosure	NOUN
cblr-1780	51	34	policies.11	policies.11	NOUN
cblr-1780	51	35	disclosure	disclosure	NOUN
cblr-1780	51	36	regulation	regulation	NOUN
cblr-1780	51	37	can	can	AUX
cblr-1780	51	38	be	be	AUX
cblr-1780	51	39	an	an	DET
cblr-1780	51	40	effective	effective	ADJ
cblr-1780	51	41	tool	tool	NOUN
cblr-1780	51	42	to	to	PART
cblr-1780	51	43	address	address	VERB
cblr-1780	51	44	market	market	NOUN
cblr-1780	51	45	failures	failure	NOUN
cblr-1780	51	46	caused	cause	VERB
cblr-1780	51	47	by	by	ADP
cblr-1780	51	48	either	either	CCONJ
cblr-1780	51	49	a	a	DET
cblr-1780	51	50	positive	positive	ADJ
cblr-1780	51	51	externalities	externality	NOUN
cblr-1780	51	52	or	or	CCONJ
cblr-1780	51	53	an	an	DET
cblr-1780	51	54	excessive	excessive	ADJ
cblr-1780	51	55	tunneling	tunneling	NOUN
cblr-1780	51	56	market	market	NOUN
cblr-1780	51	57	failure	failure	NOUN
cblr-1780	51	58	,	,	PUNCT
cblr-1780	51	59	but	but	CCONJ
cblr-1780	51	60	finding	find	VERB
cblr-1780	51	61	evidence	evidence	NOUN
cblr-1780	51	62	of	of	ADP
cblr-1780	51	63	a	a	DET
cblr-1780	51	64	link	link	NOUN
cblr-1780	51	65	between	between	ADP
cblr-1780	51	66	either	either	PRON
cblr-1780	51	67	of	of	ADP
cblr-1780	51	68	these	these	DET
cblr-1780	51	69	market	market	NOUN
cblr-1780	51	70	failures	failure	NOUN
cblr-1780	51	71	and	and	CCONJ
cblr-1780	51	72	the	the	DET
cblr-1780	51	73	systematic	systematic	ADJ
cblr-1780	51	74	underdisclosure	underdisclosure	NOUN
cblr-1780	51	75	of	of	ADP
cblr-1780	51	76	a	a	DET
cblr-1780	51	77	specific	specific	ADJ
cblr-1780	51	78	category	category	NOUN
cblr-1780	51	79	of	of	ADP
cblr-1780	51	80	information	information	NOUN
cblr-1780	51	81	is	be	AUX
cblr-1780	51	82	challenging.12	challenging.12	NOUN
cblr-1780	51	83	positive	positive	ADJ
cblr-1780	51	84	externalities	externality	NOUN
cblr-1780	51	85	may	may	AUX
cblr-1780	51	86	lead	lead	VERB
cblr-1780	51	87	public	public	ADJ
cblr-1780	51	88	companies	company	NOUN
cblr-1780	51	89	to	to	PART
cblr-1780	51	90	systematically	systematically	ADV
cblr-1780	51	91	disclose	disclose	VERB
cblr-1780	51	92	less	less	ADJ
cblr-1780	51	93	information	information	NOUN
cblr-1780	51	94	,	,	PUNCT
cblr-1780	51	95	but	but	CCONJ
cblr-1780	51	96	less	less	ADJ
cblr-1780	51	97	information	information	NOUN
cblr-1780	51	98	does	do	AUX
cblr-1780	51	99	not	not	PART
cblr-1780	51	100	necessarily	necessarily	ADV
cblr-1780	51	101	make	make	VERB
cblr-1780	51	102	investors	investor	NOUN
cblr-1780	51	103	worse	bad	ADJ
cblr-1780	51	104	off	off	ADP
cblr-1780	51	105	.	.	PUNCT
cblr-1780	52	1	positive	positive	ADJ
cblr-1780	52	2	externalities	externality	NOUN
cblr-1780	52	3	only	only	ADV
cblr-1780	52	4	harm	harm	VERB
cblr-1780	52	5	investors	investor	NOUN
cblr-1780	52	6	when	when	SCONJ
cblr-1780	52	7	underdisclosure	underdisclosure	NOUN
cblr-1780	52	8	caused	cause	VERB
cblr-1780	52	9	by	by	ADP
cblr-1780	52	10	this	this	DET
cblr-1780	52	11	market	market	NOUN
cblr-1780	52	12	failure	failure	NOUN
cblr-1780	52	13	somehow	somehow	ADV
cblr-1780	52	14	harms	harm	VERB
cblr-1780	52	15	investors	investor	NOUN
cblr-1780	52	16	for	for	ADP
cblr-1780	52	17	some	some	DET
cblr-1780	52	18	other	other	ADJ
cblr-1780	52	19	reason	reason	NOUN
cblr-1780	52	20	.	.	PUNCT
cblr-1780	53	1	evidence	evidence	NOUN
cblr-1780	53	2	of	of	ADP
cblr-1780	53	3	this	this	DET
cblr-1780	53	4	kind	kind	NOUN
cblr-1780	53	5	of	of	ADP
cblr-1780	53	6	combined	combined	ADJ
cblr-1780	53	7	effect	effect	NOUN
cblr-1780	53	8	is	be	AUX
cblr-1780	53	9	difficult	difficult	ADJ
cblr-1780	53	10	to	to	ADP
cblr-1780	53	11	discern.13	discern.13	PROPN
cblr-1780	53	12	there	there	PRON
cblr-1780	53	13	are	be	VERB
cblr-1780	53	14	similar	similar	ADJ
cblr-1780	53	15	challenges	challenge	NOUN
cblr-1780	53	16	in	in	ADP
cblr-1780	53	17	identifying	identify	VERB
cblr-1780	53	18	when	when	SCONJ
cblr-1780	53	19	specific	specific	ADJ
cblr-1780	53	20	disclosure	disclosure	NOUN
cblr-1780	53	21	requirements	requirement	NOUN
cblr-1780	53	22	would	would	AUX
cblr-1780	53	23	provide	provide	VERB
cblr-1780	53	24	an	an	DET
cblr-1780	53	25	effective	effective	ADJ
cblr-1780	53	26	means	mean	NOUN
cblr-1780	53	27	to	to	PART
cblr-1780	53	28	reduce	reduce	VERB
cblr-1780	53	29	10	10	NUM
cblr-1780	53	30	see	see	NOUN
cblr-1780	53	31	infra	infra	NOUN
cblr-1780	53	32	part	part	NOUN
cblr-1780	53	33	iii.b	iii.b	X
cblr-1780	53	34	.	.	NOUN
cblr-1780	53	35	11	11	NUM
cblr-1780	53	36	for	for	ADP
cblr-1780	53	37	a	a	DET
cblr-1780	53	38	discussion	discussion	NOUN
cblr-1780	53	39	of	of	ADP
cblr-1780	53	40	the	the	DET
cblr-1780	53	41	rationale	rationale	NOUN
cblr-1780	53	42	for	for	ADP
cblr-1780	53	43	using	use	VERB
cblr-1780	53	44	the	the	DET
cblr-1780	53	45	tunneling	tunneling	NOUN
cblr-1780	53	46	terminology	terminology	NOUN
cblr-1780	53	47	,	,	PUNCT
cblr-1780	53	48	see	see	VERB
cblr-1780	53	49	michael	michael	PROPN
cblr-1780	53	50	d.	d.	PROPN
cblr-1780	53	51	guttentag	guttentag	PROPN
cblr-1780	53	52	,	,	PUNCT
cblr-1780	53	53	protection	protection	NOUN
cblr-1780	53	54	from	from	ADP
cblr-1780	53	55	what	what	PRON
cblr-1780	53	56	?	?	PUNCT
cblr-1780	54	1	investor	investor	NOUN
cblr-1780	54	2	protection	protection	NOUN
cblr-1780	54	3	and	and	CCONJ
cblr-1780	54	4	the	the	DET
cblr-1780	54	5	jobs	job	NOUN
cblr-1780	54	6	act	act	PROPN
cblr-1780	54	7	,	,	PUNCT
cblr-1780	54	8	13	13	NUM
cblr-1780	54	9	u.c	u.c	PROPN
cblr-1780	54	10	.	.	PROPN
cblr-1780	54	11	davis	davis	PROPN
cblr-1780	54	12	bus	bus	PROPN
cblr-1780	54	13	.	.	PUNCT
cblr-1780	55	1	l.j	l.j	PROPN
cblr-1780	55	2	.	.	PROPN
cblr-1780	55	3	207	207	NUM
cblr-1780	55	4	,	,	PUNCT
cblr-1780	55	5	227	227	NUM
cblr-1780	55	6	(	(	PUNCT
cblr-1780	55	7	2013	2013	NUM
cblr-1780	55	8	)	)	PUNCT
cblr-1780	56	1	[	[	X
cblr-1780	56	2	hereinafter	hereinafter	NOUN
cblr-1780	56	3	,	,	PUNCT
cblr-1780	56	4	guttentag	guttentag	NOUN
cblr-1780	56	5	,	,	PUNCT
cblr-1780	56	6	investor	investor	NOUN
cblr-1780	56	7	protection	protection	NOUN
cblr-1780	56	8	]	]	PUNCT
cblr-1780	56	9	.	.	PUNCT
cblr-1780	57	1	other	other	ADJ
cblr-1780	57	2	terms	term	NOUN
cblr-1780	57	3	frequently	frequently	ADV
cblr-1780	57	4	used	use	VERB
cblr-1780	57	5	to	to	PART
cblr-1780	57	6	describe	describe	VERB
cblr-1780	57	7	similar	similar	ADJ
cblr-1780	57	8	phenomena	phenomenon	NOUN
cblr-1780	57	9	are	be	AUX
cblr-1780	57	10	self	self	NOUN
cblr-1780	57	11	-	-	PUNCT
cblr-1780	57	12	dealing	deal	VERB
cblr-1780	57	13	and	and	CCONJ
cblr-1780	57	14	agency	agency	NOUN
cblr-1780	57	15	costs	cost	NOUN
cblr-1780	57	16	.	.	PUNCT
cblr-1780	58	1	see	see	VERB
cblr-1780	58	2	i	i	PRON
cblr-1780	58	3	d.	d.	PROPN
cblr-1780	58	4	at	at	ADP
cblr-1780	58	5	227	227	NUM
cblr-1780	58	6	n.101	n.101	NOUN
cblr-1780	58	7	(	(	PUNCT
cblr-1780	58	8	providing	provide	VERB
cblr-1780	58	9	examples	example	NOUN
cblr-1780	58	10	)	)	PUNCT
cblr-1780	58	11	.	.	PUNCT
cblr-1780	59	1	12	12	NUM
cblr-1780	59	2	see	see	VERB
cblr-1780	59	3	infra	infra	NOUN
cblr-1780	59	4	part	part	NOUN
cblr-1780	59	5	iii.b	iii.b	X
cblr-1780	59	6	.	.	PROPN
cblr-1780	59	7	13	13	NUM
cblr-1780	59	8	see	see	VERB
cblr-1780	59	9	infra	infra	NOUN
cblr-1780	59	10	part	part	NOUN
cblr-1780	59	11	iii.b.1	iii.b.1	NOUN
cblr-1780	59	12	.	.	PUNCT
cblr-1780	59	13	guttentag	guttentag	NOUN
cblr-1780	59	14	–	–	PUNCT
cblr-1780	60	1	final	final	ADJ
cblr-1780	60	2	598	598	NUM
cblr-1780	60	3	columbia	columbia	PROPN
cblr-1780	60	4	business	business	NOUN
cblr-1780	60	5	law	law	NOUN
cblr-1780	60	6	review	review	NOUN
cblr-1780	60	7	[	[	X
cblr-1780	60	8	vol	vol	NOUN
cblr-1780	60	9	.	.	PUNCT
cblr-1780	60	10	2014	2014	NUM
cblr-1780	60	11	tunneling	tunneling	NOUN
cblr-1780	60	12	,	,	PUNCT
cblr-1780	60	13	because	because	SCONJ
cblr-1780	60	14	our	our	PRON
cblr-1780	60	15	understanding	understanding	NOUN
cblr-1780	60	16	of	of	ADP
cblr-1780	60	17	the	the	DET
cblr-1780	60	18	links	link	NOUN
cblr-1780	60	19	between	between	ADP
cblr-1780	60	20	more	more	ADJ
cblr-1780	60	21	disclosure	disclosure	NOUN
cblr-1780	60	22	and	and	CCONJ
cblr-1780	60	23	less	less	ADJ
cblr-1780	60	24	tunneling	tunneling	NOUN
cblr-1780	60	25	is	be	AUX
cblr-1780	60	26	highly	highly	ADV
cblr-1780	60	27	imperfect.14	imperfect.14	NOUN
cblr-1780	60	28	in	in	ADP
cblr-1780	60	29	part	part	NOUN
cblr-1780	60	30	iv	iv	ADP
cblr-1780	60	31	of	of	ADP
cblr-1780	60	32	this	this	DET
cblr-1780	60	33	article	article	NOUN
cblr-1780	60	34	,	,	PUNCT
cblr-1780	60	35	i	i	PRON
cblr-1780	60	36	then	then	ADV
cblr-1780	60	37	evaluate	evaluate	VERB
cblr-1780	60	38	the	the	DET
cblr-1780	60	39	efficacy	efficacy	NOUN
cblr-1780	60	40	of	of	ADP
cblr-1780	60	41	requiring	require	VERB
cblr-1780	60	42	the	the	DET
cblr-1780	60	43	disclosure	disclosure	NOUN
cblr-1780	60	44	of	of	ADP
cblr-1780	60	45	political	political	ADJ
cblr-1780	60	46	spending	spending	NOUN
cblr-1780	60	47	based	base	VERB
cblr-1780	60	48	on	on	ADP
cblr-1780	60	49	the	the	DET
cblr-1780	60	50	general	general	ADJ
cblr-1780	60	51	method	method	NOUN
cblr-1780	60	52	for	for	ADP
cblr-1780	60	53	carrying	carry	VERB
cblr-1780	60	54	out	out	ADP
cblr-1780	60	55	such	such	DET
cblr-1780	60	56	an	an	DET
cblr-1780	60	57	analysis	analysis	NOUN
cblr-1780	60	58	developed	develop	VERB
cblr-1780	60	59	in	in	ADP
cblr-1780	60	60	part	part	NOUN
cblr-1780	60	61	iii	iii	NOUN
cblr-1780	60	62	.	.	PUNCT
cblr-1780	61	1	i	i	PRON
cblr-1780	61	2	begin	begin	VERB
cblr-1780	61	3	with	with	ADP
cblr-1780	61	4	a	a	DET
cblr-1780	61	5	presumption	presumption	NOUN
cblr-1780	61	6	against	against	ADP
cblr-1780	61	7	requiring	require	VERB
cblr-1780	61	8	public	public	ADJ
cblr-1780	61	9	companies	company	NOUN
cblr-1780	61	10	to	to	PART
cblr-1780	61	11	disclose	disclose	VERB
cblr-1780	61	12	political	political	ADJ
cblr-1780	61	13	spending	spending	NOUN
cblr-1780	61	14	,	,	PUNCT
cblr-1780	61	15	and	and	CCONJ
cblr-1780	61	16	then	then	ADV
cblr-1780	61	17	consider	consider	VERB
cblr-1780	61	18	whether	whether	SCONJ
cblr-1780	61	19	there	there	PRON
cblr-1780	61	20	is	be	VERB
cblr-1780	61	21	evidence	evidence	NOUN
cblr-1780	61	22	of	of	ADP
cblr-1780	61	23	a	a	DET
cblr-1780	61	24	positive	positive	ADJ
cblr-1780	61	25	externalities	externality	NOUN
cblr-1780	61	26	or	or	CCONJ
cblr-1780	61	27	a	a	DET
cblr-1780	61	28	tunneling	tunneling	NOUN
cblr-1780	61	29	market	market	NOUN
cblr-1780	61	30	failure	failure	NOUN
cblr-1780	61	31	large	large	ADJ
cblr-1780	61	32	enough	enough	ADV
cblr-1780	61	33	to	to	PART
cblr-1780	61	34	justify	justify	VERB
cblr-1780	61	35	rejecting	reject	VERB
cblr-1780	61	36	the	the	DET
cblr-1780	61	37	presumption	presumption	NOUN
cblr-1780	61	38	.	.	PUNCT
cblr-1780	62	1	ultimately	ultimately	ADV
cblr-1780	62	2	,	,	PUNCT
cblr-1780	62	3	i	i	PRON
cblr-1780	62	4	do	do	AUX
cblr-1780	62	5	not	not	PART
cblr-1780	62	6	find	find	VERB
cblr-1780	62	7	sufficient	sufficient	ADJ
cblr-1780	62	8	evidence	evidence	NOUN
cblr-1780	62	9	to	to	PART
cblr-1780	62	10	overcome	overcome	VERB
cblr-1780	62	11	this	this	DET
cblr-1780	62	12	presumption	presumption	NOUN
cblr-1780	62	13	.	.	PUNCT
cblr-1780	63	1	positive	positive	ADJ
cblr-1780	63	2	externalities	externality	NOUN
cblr-1780	63	3	might	might	AUX
cblr-1780	63	4	lead	lead	VERB
cblr-1780	63	5	public	public	ADJ
cblr-1780	63	6	firms	firm	NOUN
cblr-1780	63	7	to	to	ADP
cblr-1780	63	8	systematically	systematically	ADV
cblr-1780	63	9	under	under	ADP
cblr-1780	63	10	-	-	PUNCT
cblr-1780	63	11	disclose	disclose	VERB
cblr-1780	63	12	political	political	ADJ
cblr-1780	63	13	spending	spending	NOUN
cblr-1780	63	14	,	,	PUNCT
cblr-1780	63	15	but	but	CCONJ
cblr-1780	63	16	the	the	DET
cblr-1780	63	17	trivially	trivially	ADV
cblr-1780	63	18	small	small	ADJ
cblr-1780	63	19	dollar	dollar	NOUN
cblr-1780	63	20	amounts	amount	NOUN
cblr-1780	63	21	involved	involve	VERB
cblr-1780	63	22	provide	provide	VERB
cblr-1780	63	23	the	the	DET
cblr-1780	63	24	better	well	ADJ
cblr-1780	63	25	explanation	explanation	NOUN
cblr-1780	63	26	for	for	ADP
cblr-1780	63	27	the	the	DET
cblr-1780	63	28	non	non	ADJ
cblr-1780	63	29	-	-	NOUN
cblr-1780	63	30	disclosure	disclosure	NOUN
cblr-1780	63	31	of	of	ADP
cblr-1780	63	32	political	political	ADJ
cblr-1780	63	33	spending	spending	NOUN
cblr-1780	63	34	by	by	ADP
cblr-1780	63	35	many	many	ADJ
cblr-1780	63	36	firms.15	firms.15	NOUN
cblr-1780	63	37	there	there	PRON
cblr-1780	63	38	is	be	VERB
cblr-1780	63	39	,	,	PUNCT
cblr-1780	63	40	however	however	ADV
cblr-1780	63	41	,	,	PUNCT
cblr-1780	63	42	one	one	NUM
cblr-1780	63	43	caveat	caveat	NOUN
cblr-1780	63	44	before	before	ADP
cblr-1780	63	45	dismissing	dismiss	VERB
cblr-1780	63	46	entirely	entirely	ADV
cblr-1780	63	47	a	a	DET
cblr-1780	63	48	positive	positive	ADJ
cblr-1780	63	49	externalities	externality	NOUN
cblr-1780	63	50	market	market	NOUN
cblr-1780	63	51	failure	failure	NOUN
cblr-1780	63	52	justification	justification	NOUN
cblr-1780	63	53	for	for	ADP
cblr-1780	63	54	requiring	require	VERB
cblr-1780	63	55	disclosure	disclosure	NOUN
cblr-1780	63	56	of	of	ADP
cblr-1780	63	57	political	political	ADJ
cblr-1780	63	58	spending	spending	NOUN
cblr-1780	63	59	.	.	PUNCT
cblr-1780	64	1	even	even	ADV
cblr-1780	64	2	though	though	SCONJ
cblr-1780	64	3	the	the	DET
cblr-1780	64	4	amounts	amount	NOUN
cblr-1780	64	5	involved	involve	VERB
cblr-1780	64	6	in	in	ADP
cblr-1780	64	7	political	political	ADJ
cblr-1780	64	8	spending	spending	NOUN
cblr-1780	64	9	are	be	AUX
cblr-1780	64	10	trivially	trivially	ADV
cblr-1780	64	11	small	small	ADJ
cblr-1780	64	12	from	from	ADP
cblr-1780	64	13	the	the	DET
cblr-1780	64	14	perspective	perspective	NOUN
cblr-1780	64	15	of	of	ADP
cblr-1780	64	16	overall	overall	ADJ
cblr-1780	64	17	firm	firm	ADJ
cblr-1780	64	18	value	value	NOUN
cblr-1780	64	19	,	,	PUNCT
cblr-1780	64	20	the	the	DET
cblr-1780	64	21	amount	amount	NOUN
cblr-1780	64	22	of	of	ADP
cblr-1780	64	23	a	a	DET
cblr-1780	64	24	firm	firm	NOUN
cblr-1780	64	25	’s	’s	PART
cblr-1780	64	26	political	political	ADJ
cblr-1780	64	27	spending	spending	NOUN
cblr-1780	64	28	does	do	AUX
cblr-1780	64	29	provide	provide	VERB
cblr-1780	64	30	useful	useful	ADJ
cblr-1780	64	31	information	information	NOUN
cblr-1780	64	32	about	about	ADP
cblr-1780	64	33	the	the	DET
cblr-1780	64	34	future	future	ADJ
cblr-1780	64	35	performance	performance	NOUN
cblr-1780	64	36	of	of	ADP
cblr-1780	64	37	a	a	DET
cblr-1780	64	38	firm	firm	NOUN
cblr-1780	64	39	’s	’s	NOUN
cblr-1780	64	40	securities.16	securities.16	PRON
cblr-1780	64	41	one	one	PRON
cblr-1780	64	42	might	might	AUX
cblr-1780	64	43	argue	argue	VERB
cblr-1780	64	44	that	that	SCONJ
cblr-1780	64	45	the	the	DET
cblr-1780	64	46	non	non	NOUN
cblr-1780	64	47	-	-	NOUN
cblr-1780	64	48	disclosure	disclosure	NOUN
cblr-1780	64	49	of	of	ADP
cblr-1780	64	50	value	value	NOUN
cblr-1780	64	51	-	-	PUNCT
cblr-1780	64	52	relevant	relevant	ADJ
cblr-1780	64	53	information	information	NOUN
cblr-1780	64	54	is	be	AUX
cblr-1780	64	55	prima	prima	NOUN
cblr-1780	64	56	facie	facie	NOUN
cblr-1780	64	57	evidence	evidence	NOUN
cblr-1780	64	58	of	of	ADP
cblr-1780	64	59	a	a	DET
cblr-1780	64	60	market	market	NOUN
cblr-1780	64	61	failure	failure	NOUN
cblr-1780	64	62	;	;	PUNCT
cblr-1780	64	63	however	however	ADV
cblr-1780	64	64	,	,	PUNCT
cblr-1780	64	65	the	the	DET
cblr-1780	64	66	evidence	evidence	NOUN
cblr-1780	64	67	also	also	ADV
cblr-1780	64	68	shows	show	VERB
cblr-1780	64	69	that	that	SCONJ
cblr-1780	64	70	political	political	ADJ
cblr-1780	64	71	spending	spending	NOUN
cblr-1780	64	72	is	be	AUX
cblr-1780	64	73	value	value	NOUN
cblr-1780	64	74	-	-	PUNCT
cblr-1780	64	75	relevant	relevant	ADJ
cblr-1780	64	76	because	because	SCONJ
cblr-1780	64	77	it	it	PRON
cblr-1780	64	78	provides	provide	VERB
cblr-1780	64	79	an	an	DET
cblr-1780	64	80	informative	informative	ADJ
cblr-1780	64	81	signal	signal	NOUN
cblr-1780	64	82	about	about	ADP
cblr-1780	64	83	otherwise	otherwise	ADV
cblr-1780	64	84	unobservable	unobservable	ADJ
cblr-1780	64	85	firm	firm	NOUN
cblr-1780	64	86	attributes	attribute	VERB
cblr-1780	64	87	,	,	PUNCT
cblr-1780	64	88	not	not	PART
cblr-1780	64	89	because	because	SCONJ
cblr-1780	64	90	it	it	PRON
cblr-1780	64	91	causes	cause	VERB
cblr-1780	64	92	a	a	DET
cblr-1780	64	93	future	future	ADJ
cblr-1780	64	94	decline	decline	NOUN
cblr-1780	64	95	in	in	ADP
cblr-1780	64	96	firm	firm	ADJ
cblr-1780	64	97	value	value	NOUN
cblr-1780	64	98	.	.	PUNCT
cblr-1780	65	1	mandating	mandate	VERB
cblr-1780	65	2	the	the	DET
cblr-1780	65	3	disclosure	disclosure	NOUN
cblr-1780	65	4	of	of	ADP
cblr-1780	65	5	an	an	DET
cblr-1780	65	6	informative	informative	ADJ
cblr-1780	65	7	signal	signal	NOUN
cblr-1780	65	8	is	be	AUX
cblr-1780	65	9	not	not	PART
cblr-1780	65	10	likely	likely	ADJ
cblr-1780	65	11	to	to	PART
cblr-1780	65	12	benefit	benefit	VERB
cblr-1780	65	13	shareholders	shareholder	NOUN
cblr-1780	65	14	,	,	PUNCT
cblr-1780	65	15	even	even	ADV
cblr-1780	65	16	in	in	ADP
cblr-1780	65	17	the	the	DET
cblr-1780	65	18	event	event	NOUN
cblr-1780	65	19	(	(	PUNCT
cblr-1780	65	20	unlikely	unlikely	ADJ
cblr-1780	65	21	here	here	ADV
cblr-1780	65	22	)	)	PUNCT
cblr-1780	65	23	that	that	SCONJ
cblr-1780	65	24	the	the	DET
cblr-1780	65	25	signal	signal	NOUN
cblr-1780	65	26	was	be	AUX
cblr-1780	65	27	withheld	withhold	VERB
cblr-1780	65	28	because	because	SCONJ
cblr-1780	65	29	of	of	ADP
cblr-1780	65	30	positive	positive	ADJ
cblr-1780	65	31	externalities	externality	NOUN
cblr-1780	65	32	.	.	PUNCT
cblr-1780	66	1	14	14	NUM
cblr-1780	66	2	see	see	VERB
cblr-1780	66	3	infra	infra	NOUN
cblr-1780	66	4	part	part	NOUN
cblr-1780	66	5	iii.b.2	iii.b.2	PROPN
cblr-1780	66	6	.	.	PUNCT
cblr-1780	66	7	15	15	NUM
cblr-1780	66	8	see	see	VERB
cblr-1780	66	9	infra	infra	NOUN
cblr-1780	66	10	notes	note	VERB
cblr-1780	66	11	168–177	168–177	NUM
cblr-1780	66	12	and	and	CCONJ
cblr-1780	66	13	accompanying	accompany	VERB
cblr-1780	66	14	text	text	NOUN
cblr-1780	66	15	.	.	PUNCT
cblr-1780	67	1	16	16	NUM
cblr-1780	67	2	see	see	VERB
cblr-1780	67	3	,	,	PUNCT
cblr-1780	67	4	e.g.	e.g.	ADV
cblr-1780	67	5	,	,	PUNCT
cblr-1780	67	6	rajesh	rajesh	PROPN
cblr-1780	67	7	k.	k.	PROPN
cblr-1780	67	8	aggarwal	aggarwal	PROPN
cblr-1780	67	9	,	,	PUNCT
cblr-1780	67	10	felix	felix	PROPN
cblr-1780	67	11	meschke	meschke	PROPN
cblr-1780	67	12	&	&	CCONJ
cblr-1780	67	13	tracy	tracy	PROPN
cblr-1780	67	14	yue	yue	PROPN
cblr-1780	67	15	wang	wang	PROPN
cblr-1780	67	16	,	,	PUNCT
cblr-1780	67	17	corporate	corporate	ADJ
cblr-1780	67	18	political	political	ADJ
cblr-1780	67	19	donations	donation	NOUN
cblr-1780	67	20	:	:	PUNCT
cblr-1780	67	21	investment	investment	NOUN
cblr-1780	67	22	or	or	CCONJ
cblr-1780	67	23	agency	agency	NOUN
cblr-1780	67	24	?	?	PUNCT
cblr-1780	67	25	,	,	PUNCT
cblr-1780	67	26	14	14	NUM
cblr-1780	67	27	bus	bus	NOUN
cblr-1780	67	28	.	.	PUNCT
cblr-1780	67	29	&	&	CCONJ
cblr-1780	67	30	pol	pol	PROPN
cblr-1780	67	31	.	.	PUNCT
cblr-1780	67	32	,	,	PUNCT
cblr-1780	67	33	no	no	INTJ
cblr-1780	67	34	.	.	NOUN
cblr-1780	67	35	1	1	NUM
cblr-1780	67	36	,	,	PUNCT
cblr-1780	67	37	article	article	NOUN
cblr-1780	67	38	3	3	NUM
cblr-1780	67	39	,	,	PUNCT
cblr-1780	67	40	1	1	NUM
cblr-1780	67	41	,	,	PUNCT
cblr-1780	67	42	36	36	NUM
cblr-1780	67	43	(	(	PUNCT
cblr-1780	67	44	2012	2012	NUM
cblr-1780	67	45	)	)	PUNCT
cblr-1780	67	46	(	(	PUNCT
cblr-1780	67	47	finding	find	VERB
cblr-1780	67	48	that	that	SCONJ
cblr-1780	67	49	corporate	corporate	ADJ
cblr-1780	67	50	political	political	ADJ
cblr-1780	67	51	donations	donation	NOUN
cblr-1780	67	52	are	be	AUX
cblr-1780	67	53	negatively	negatively	ADV
cblr-1780	67	54	correlated	correlate	VERB
cblr-1780	67	55	with	with	ADP
cblr-1780	67	56	future	future	ADJ
cblr-1780	67	57	excess	excess	ADJ
cblr-1780	67	58	returns	return	NOUN
cblr-1780	67	59	)	)	PUNCT
cblr-1780	67	60	.	.	PUNCT
cblr-1780	68	1	guttentag	guttentag	NOUN
cblr-1780	68	2	–	–	PUNCT
cblr-1780	68	3	final	final	ADJ
cblr-1780	68	4	no	no	NOUN
cblr-1780	68	5	.	.	PUNCT
cblr-1780	69	1	3:593	3:593	NUM
cblr-1780	69	2	]	]	PUNCT
cblr-1780	69	3	on	on	ADP
cblr-1780	69	4	political	political	ADJ
cblr-1780	69	5	spending	spending	NOUN
cblr-1780	69	6	disclosure	disclosure	NOUN
cblr-1780	69	7	599	599	NUM
cblr-1780	69	8	persistent	persistent	ADJ
cblr-1780	69	9	underdisclosure	underdisclosure	NOUN
cblr-1780	69	10	by	by	ADP
cblr-1780	69	11	firm	firm	ADJ
cblr-1780	69	12	insiders	insider	NOUN
cblr-1780	69	13	to	to	PART
cblr-1780	69	14	facilitate	facilitate	VERB
cblr-1780	69	15	tunneling	tunneling	NOUN
cblr-1780	69	16	is	be	AUX
cblr-1780	69	17	the	the	DET
cblr-1780	69	18	second	second	ADJ
cblr-1780	69	19	market	market	NOUN
cblr-1780	69	20	failure	failure	NOUN
cblr-1780	69	21	that	that	PRON
cblr-1780	69	22	can	can	AUX
cblr-1780	69	23	justify	justify	VERB
cblr-1780	69	24	mandating	mandate	VERB
cblr-1780	69	25	the	the	DET
cblr-1780	69	26	disclosure	disclosure	NOUN
cblr-1780	69	27	of	of	ADP
cblr-1780	69	28	a	a	DET
cblr-1780	69	29	specific	specific	ADJ
cblr-1780	69	30	category	category	NOUN
cblr-1780	69	31	of	of	ADP
cblr-1780	69	32	information.17	information.17	NOUN
cblr-1780	69	33	there	there	PRON
cblr-1780	69	34	are	be	VERB
cblr-1780	69	35	indications	indication	NOUN
cblr-1780	69	36	that	that	SCONJ
cblr-1780	69	37	political	political	ADJ
cblr-1780	69	38	spending	spending	NOUN
cblr-1780	69	39	may	may	AUX
cblr-1780	69	40	be	be	AUX
cblr-1780	69	41	a	a	DET
cblr-1780	69	42	form	form	NOUN
cblr-1780	69	43	of	of	ADP
cblr-1780	69	44	tunneling	tunneling	NOUN
cblr-1780	69	45	by	by	ADP
cblr-1780	69	46	firm	firm	ADJ
cblr-1780	69	47	insiders	insider	NOUN
cblr-1780	69	48	.	.	PUNCT
cblr-1780	70	1	for	for	ADP
cblr-1780	70	2	example	example	NOUN
cblr-1780	70	3	,	,	PUNCT
cblr-1780	70	4	there	there	PRON
cblr-1780	70	5	is	be	VERB
cblr-1780	70	6	a	a	DET
cblr-1780	70	7	high	high	ADJ
cblr-1780	70	8	correlation	correlation	NOUN
cblr-1780	70	9	between	between	ADP
cblr-1780	70	10	the	the	DET
cblr-1780	70	11	political	political	ADJ
cblr-1780	70	12	beliefs	belief	NOUN
cblr-1780	70	13	supported	support	VERB
cblr-1780	70	14	by	by	ADP
cblr-1780	70	15	the	the	DET
cblr-1780	70	16	firm	firm	NOUN
cblr-1780	70	17	and	and	CCONJ
cblr-1780	70	18	those	those	PRON
cblr-1780	70	19	held	hold	VERB
cblr-1780	70	20	by	by	ADP
cblr-1780	70	21	the	the	DET
cblr-1780	70	22	firm	firm	NOUN
cblr-1780	70	23	’s	’s	PART
cblr-1780	70	24	ceo	ceo	NOUN
cblr-1780	70	25	,	,	PUNCT
cblr-1780	70	26	and	and	CCONJ
cblr-1780	70	27	higher	high	ADJ
cblr-1780	70	28	levels	level	NOUN
cblr-1780	70	29	of	of	ADP
cblr-1780	70	30	political	political	ADJ
cblr-1780	70	31	spending	spending	NOUN
cblr-1780	70	32	are	be	AUX
cblr-1780	70	33	observed	observe	VERB
cblr-1780	70	34	at	at	ADP
cblr-1780	70	35	firms	firm	NOUN
cblr-1780	70	36	with	with	ADP
cblr-1780	70	37	weaker	weak	ADJ
cblr-1780	70	38	corporate	corporate	ADJ
cblr-1780	70	39	governance	governance	NOUN
cblr-1780	70	40	practices	practice	NOUN
cblr-1780	70	41	in	in	ADP
cblr-1780	70	42	general.18	general.18	PROPN
cblr-1780	70	43	however	however	ADV
cblr-1780	70	44	,	,	PUNCT
cblr-1780	70	45	even	even	ADV
cblr-1780	70	46	if	if	SCONJ
cblr-1780	70	47	public	public	ADJ
cblr-1780	70	48	company	company	NOUN
cblr-1780	70	49	political	political	ADJ
cblr-1780	70	50	spending	spending	NOUN
cblr-1780	70	51	often	often	ADV
cblr-1780	70	52	benefits	benefit	VERB
cblr-1780	70	53	firm	firm	ADJ
cblr-1780	70	54	insiders	insider	NOUN
cblr-1780	70	55	more	more	ADJ
cblr-1780	70	56	than	than	ADP
cblr-1780	70	57	the	the	DET
cblr-1780	70	58	firm	firm	NOUN
cblr-1780	70	59	itself	itself	PRON
cblr-1780	70	60	,	,	PUNCT
cblr-1780	70	61	there	there	PRON
cblr-1780	70	62	is	be	VERB
cblr-1780	70	63	little	little	ADJ
cblr-1780	70	64	reason	reason	NOUN
cblr-1780	70	65	to	to	PART
cblr-1780	70	66	expect	expect	VERB
cblr-1780	70	67	that	that	SCONJ
cblr-1780	70	68	mandatory	mandatory	ADJ
cblr-1780	70	69	disclosure	disclosure	NOUN
cblr-1780	70	70	would	would	AUX
cblr-1780	70	71	provide	provide	VERB
cblr-1780	70	72	a	a	DET
cblr-1780	70	73	cost	cost	NOUN
cblr-1780	70	74	-	-	PUNCT
cblr-1780	70	75	effective	effective	ADJ
cblr-1780	70	76	means	mean	NOUN
cblr-1780	70	77	to	to	PART
cblr-1780	70	78	reduce	reduce	VERB
cblr-1780	70	79	this	this	DET
cblr-1780	70	80	form	form	NOUN
cblr-1780	70	81	of	of	ADP
cblr-1780	70	82	tunneling	tunneling	NOUN
cblr-1780	70	83	.	.	PUNCT
cblr-1780	71	1	previously	previously	ADV
cblr-1780	71	2	unpublished	unpublishe	VERB
cblr-1780	71	3	findings	finding	NOUN
cblr-1780	71	4	from	from	ADP
cblr-1780	71	5	research	research	NOUN
cblr-1780	71	6	by	by	ADP
cblr-1780	71	7	rajesh	rajesh	PROPN
cblr-1780	71	8	aggarwal	aggarwal	PROPN
cblr-1780	71	9	and	and	CCONJ
cblr-1780	71	10	his	his	PRON
cblr-1780	71	11	colleagues	colleague	NOUN
cblr-1780	71	12	that	that	PRON
cblr-1780	71	13	suggest	suggest	VERB
cblr-1780	71	14	transparency	transparency	NOUN
cblr-1780	71	15	about	about	ADP
cblr-1780	71	16	political	political	ADJ
cblr-1780	71	17	spending	spending	NOUN
cblr-1780	71	18	might	might	AUX
cblr-1780	71	19	reduce	reduce	VERB
cblr-1780	71	20	the	the	DET
cblr-1780	71	21	deleterious	deleterious	ADJ
cblr-1780	71	22	effects	effect	NOUN
cblr-1780	71	23	of	of	ADP
cblr-1780	71	24	political	political	ADJ
cblr-1780	71	25	spending	spending	NOUN
cblr-1780	71	26	on	on	ADP
cblr-1780	71	27	future	future	ADJ
cblr-1780	71	28	stock	stock	NOUN
cblr-1780	71	29	returns	return	NOUN
cblr-1780	71	30	do	do	VERB
cblr-1780	71	31	not	not	PART
cblr-1780	71	32	,	,	PUNCT
cblr-1780	71	33	despite	despite	SCONJ
cblr-1780	71	34	appearances	appearance	NOUN
cblr-1780	71	35	,	,	PUNCT
cblr-1780	71	36	show	show	VERB
cblr-1780	71	37	that	that	SCONJ
cblr-1780	71	38	political	political	ADJ
cblr-1780	71	39	spending	spending	NOUN
cblr-1780	71	40	disclosure	disclosure	NOUN
cblr-1780	71	41	will	will	AUX
cblr-1780	71	42	deter	deter	VERB
cblr-1780	71	43	this	this	DET
cblr-1780	71	44	form	form	NOUN
cblr-1780	71	45	of	of	ADP
cblr-1780	71	46	tunneling.19	tunneling.19	NOUN
cblr-1780	71	47	mandatory	mandatory	ADJ
cblr-1780	71	48	disclosure	disclosure	NOUN
cblr-1780	71	49	does	do	AUX
cblr-1780	71	50	make	make	VERB
cblr-1780	71	51	sense	sense	NOUN
cblr-1780	71	52	as	as	ADP
cblr-1780	71	53	a	a	DET
cblr-1780	71	54	central	central	ADJ
cblr-1780	71	55	pillar	pillar	NOUN
cblr-1780	71	56	of	of	ADP
cblr-1780	71	57	securities	security	NOUN
cblr-1780	71	58	regulation	regulation	NOUN
cblr-1780	71	59	,	,	PUNCT
cblr-1780	71	60	but	but	CCONJ
cblr-1780	71	61	the	the	DET
cblr-1780	71	62	justifications	justification	NOUN
cblr-1780	71	63	for	for	ADP
cblr-1780	71	64	this	this	DET
cblr-1780	71	65	central	central	ADJ
cblr-1780	71	66	role	role	NOUN
cblr-1780	71	67	are	be	AUX
cblr-1780	71	68	more	more	ADV
cblr-1780	71	69	subtle	subtle	ADJ
cblr-1780	71	70	and	and	CCONJ
cblr-1780	71	71	complex	complex	ADJ
cblr-1780	71	72	than	than	SCONJ
cblr-1780	71	73	most	most	ADJ
cblr-1780	71	74	realize	realize	VERB
cblr-1780	71	75	.	.	PUNCT
cblr-1780	72	1	if	if	SCONJ
cblr-1780	72	2	the	the	DET
cblr-1780	72	3	mandatory	mandatory	ADJ
cblr-1780	72	4	disclosure	disclosure	NOUN
cblr-1780	72	5	system	system	NOUN
cblr-1780	72	6	is	be	AUX
cblr-1780	72	7	to	to	PART
cblr-1780	72	8	function	function	VERB
cblr-1780	72	9	effectively	effectively	ADV
cblr-1780	72	10	,	,	PUNCT
cblr-1780	72	11	it	it	PRON
cblr-1780	72	12	is	be	AUX
cblr-1780	72	13	crucial	crucial	ADJ
cblr-1780	72	14	to	to	PART
cblr-1780	72	15	understand	understand	VERB
cblr-1780	72	16	these	these	DET
cblr-1780	72	17	justifications	justification	NOUN
cblr-1780	72	18	and	and	CCONJ
cblr-1780	72	19	to	to	PART
cblr-1780	72	20	only	only	ADV
cblr-1780	72	21	turn	turn	VERB
cblr-1780	72	22	to	to	ADP
cblr-1780	72	23	mandatory	mandatory	ADJ
cblr-1780	72	24	disclosure	disclosure	NOUN
cblr-1780	72	25	regulation	regulation	NOUN
cblr-1780	72	26	when	when	SCONJ
cblr-1780	72	27	the	the	DET
cblr-1780	72	28	evidence	evidence	NOUN
cblr-1780	72	29	suggests	suggest	VERB
cblr-1780	72	30	such	such	ADJ
cblr-1780	72	31	intervention	intervention	NOUN
cblr-1780	72	32	is	be	AUX
cblr-1780	72	33	likely	likely	ADJ
cblr-1780	72	34	to	to	PART
cblr-1780	72	35	be	be	AUX
cblr-1780	72	36	efficacious	efficacious	ADJ
cblr-1780	72	37	.	.	PUNCT
cblr-1780	73	1	the	the	DET
cblr-1780	73	2	available	available	ADJ
cblr-1780	73	3	evidence	evidence	NOUN
cblr-1780	73	4	simply	simply	ADV
cblr-1780	73	5	does	do	AUX
cblr-1780	73	6	not	not	PART
cblr-1780	73	7	justify	justify	VERB
cblr-1780	73	8	requiring	require	VERB
cblr-1780	73	9	public	public	ADJ
cblr-1780	73	10	companies	company	NOUN
cblr-1780	73	11	to	to	PART
cblr-1780	73	12	disclose	disclose	VERB
cblr-1780	73	13	their	their	PRON
cblr-1780	73	14	political	political	ADJ
cblr-1780	73	15	spending	spending	NOUN
cblr-1780	73	16	.	.	PUNCT
cblr-1780	74	1	ii	ii	X
cblr-1780	74	2	.	.	PUNCT
cblr-1780	75	1	current	current	ADJ
cblr-1780	75	2	arguments	argument	NOUN
cblr-1780	75	3	for	for	ADP
cblr-1780	75	4	requiring	require	VERB
cblr-1780	75	5	political	political	ADJ
cblr-1780	75	6	spending	spending	NOUN
cblr-1780	75	7	disclosure	disclosure	NOUN
cblr-1780	75	8	and	and	CCONJ
cblr-1780	75	9	their	their	PRON
cblr-1780	75	10	shortcomings	shortcoming	NOUN
cblr-1780	75	11	recent	recent	ADJ
cblr-1780	75	12	interest	interest	NOUN
cblr-1780	75	13	in	in	ADP
cblr-1780	75	14	requiring	require	VERB
cblr-1780	75	15	the	the	DET
cblr-1780	75	16	disclosure	disclosure	NOUN
cblr-1780	75	17	of	of	ADP
cblr-1780	75	18	political	political	ADJ
cblr-1780	75	19	spending	spending	NOUN
cblr-1780	75	20	by	by	ADP
cblr-1780	75	21	public	public	ADJ
cblr-1780	75	22	companies	company	NOUN
cblr-1780	75	23	arose	arise	VERB
cblr-1780	75	24	out	out	ADP
cblr-1780	75	25	of	of	ADP
cblr-1780	75	26	the	the	DET
cblr-1780	75	27	supreme	supreme	ADJ
cblr-1780	75	28	17	17	NUM
cblr-1780	75	29	see	see	NOUN
cblr-1780	75	30	infra	infra	NOUN
cblr-1780	75	31	part	part	NOUN
cblr-1780	75	32	iii.b.2	iii.b.2	PROPN
cblr-1780	75	33	.	.	PUNCT
cblr-1780	75	34	18	18	NUM
cblr-1780	75	35	see	see	VERB
cblr-1780	75	36	infra	infra	NOUN
cblr-1780	75	37	notes	note	VERB
cblr-1780	75	38	191–196	191–196	NUM
cblr-1780	75	39	and	and	CCONJ
cblr-1780	75	40	accompanying	accompany	VERB
cblr-1780	75	41	text	text	NOUN
cblr-1780	75	42	.	.	PUNCT
cblr-1780	76	1	19	19	NUM
cblr-1780	76	2	see	see	VERB
cblr-1780	76	3	infra	infra	NOUN
cblr-1780	76	4	notes	note	VERB
cblr-1780	76	5	209–219	209–219	NUM
cblr-1780	76	6	and	and	CCONJ
cblr-1780	76	7	accompanying	accompany	VERB
cblr-1780	76	8	text	text	NOUN
cblr-1780	76	9	.	.	PUNCT
cblr-1780	77	1	guttentag	guttentag	NOUN
cblr-1780	77	2	–	–	PUNCT
cblr-1780	77	3	final	final	ADJ
cblr-1780	77	4	600	600	NUM
cblr-1780	77	5	columbia	columbia	PROPN
cblr-1780	77	6	business	business	NOUN
cblr-1780	77	7	law	law	PROPN
cblr-1780	77	8	review	review	NOUN
cblr-1780	78	1	[	[	X
cblr-1780	78	2	vol	vol	NOUN
cblr-1780	78	3	.	.	PUNCT
cblr-1780	78	4	2014	2014	NUM
cblr-1780	78	5	court	court	NOUN
cblr-1780	78	6	’s	’s	PART
cblr-1780	78	7	citizens	citizen	NOUN
cblr-1780	78	8	united	unite	VERB
cblr-1780	78	9	v.	v.	ADP
cblr-1780	78	10	federal	federal	PROPN
cblr-1780	78	11	election	election	PROPN
cblr-1780	78	12	commission	commission	NOUN
cblr-1780	78	13	decision.20	decision.20	PROPN
cblr-1780	78	14	the	the	DET
cblr-1780	78	15	citizens	citizen	NOUN
cblr-1780	78	16	united	unite	VERB
cblr-1780	78	17	decision	decision	PROPN
cblr-1780	78	18	overturned	overturn	VERB
cblr-1780	78	19	a	a	DET
cblr-1780	78	20	statute	statute	NOUN
cblr-1780	78	21	limiting	limit	VERB
cblr-1780	78	22	corporate	corporate	ADJ
cblr-1780	78	23	contributions	contribution	NOUN
cblr-1780	78	24	to	to	ADP
cblr-1780	78	25	contests	contest	NOUN
cblr-1780	78	26	for	for	ADP
cblr-1780	78	27	federal	federal	ADJ
cblr-1780	78	28	political	political	ADJ
cblr-1780	78	29	office	office	NOUN
cblr-1780	78	30	,	,	PUNCT
cblr-1780	78	31	and	and	CCONJ
cblr-1780	78	32	raised	raise	VERB
cblr-1780	78	33	the	the	DET
cblr-1780	78	34	specter	specter	NOUN
cblr-1780	78	35	of	of	ADP
cblr-1780	78	36	corporate	corporate	ADJ
cblr-1780	78	37	spending	spending	NOUN
cblr-1780	78	38	unduly	unduly	ADV
cblr-1780	78	39	influencing	influence	VERB
cblr-1780	78	40	the	the	DET
cblr-1780	78	41	federal	federal	ADJ
cblr-1780	78	42	political	political	ADJ
cblr-1780	78	43	process.21	process.21	NOUN
cblr-1780	78	44	but	but	CCONJ
cblr-1780	78	45	within	within	ADP
cblr-1780	78	46	the	the	DET
cblr-1780	78	47	citizens	citizen	NOUN
cblr-1780	78	48	united	united	ADJ
cblr-1780	78	49	decision	decision	NOUN
cblr-1780	78	50	was	be	AUX
cblr-1780	78	51	the	the	DET
cblr-1780	78	52	germ	germ	NOUN
cblr-1780	78	53	of	of	ADP
cblr-1780	78	54	an	an	DET
cblr-1780	78	55	idea	idea	NOUN
cblr-1780	78	56	about	about	ADP
cblr-1780	78	57	how	how	SCONJ
cblr-1780	78	58	to	to	PART
cblr-1780	78	59	limit	limit	VERB
cblr-1780	78	60	corporate	corporate	ADJ
cblr-1780	78	61	involvement	involvement	NOUN
cblr-1780	78	62	in	in	ADP
cblr-1780	78	63	federal	federal	ADJ
cblr-1780	78	64	political	political	ADJ
cblr-1780	78	65	contests	contest	NOUN
cblr-1780	78	66	:	:	PUNCT
cblr-1780	78	67	the	the	DET
cblr-1780	78	68	mechanisms	mechanism	NOUN
cblr-1780	78	69	of	of	ADP
cblr-1780	78	70	corporate	corporate	ADJ
cblr-1780	78	71	governance	governance	NOUN
cblr-1780	78	72	.	.	PUNCT
cblr-1780	79	1	in	in	ADP
cblr-1780	79	2	the	the	DET
cblr-1780	79	3	majority	majority	NOUN
cblr-1780	79	4	opinion	opinion	NOUN
cblr-1780	79	5	in	in	ADP
cblr-1780	79	6	citizens	citizen	NOUN
cblr-1780	79	7	united	united	PROPN
cblr-1780	79	8	,	,	PUNCT
cblr-1780	79	9	justice	justice	PROPN
cblr-1780	79	10	kennedy	kennedy	PROPN
cblr-1780	79	11	wrote	write	VERB
cblr-1780	79	12	that	that	SCONJ
cblr-1780	79	13	“	"	PUNCT
cblr-1780	79	14	[	[	X
cblr-1780	79	15	t]here	t]here	NOUN
cblr-1780	79	16	is	be	AUX
cblr-1780	79	17	,	,	PUNCT
cblr-1780	79	18	furthermore	furthermore	ADV
cblr-1780	79	19	,	,	PUNCT
cblr-1780	79	20	little	little	ADJ
cblr-1780	79	21	evidence	evidence	NOUN
cblr-1780	79	22	of	of	ADP
cblr-1780	79	23	abuse	abuse	NOUN
cblr-1780	79	24	that	that	PRON
cblr-1780	79	25	can	can	AUX
cblr-1780	79	26	not	not	PART
cblr-1780	79	27	be	be	AUX
cblr-1780	79	28	corrected	correct	VERB
cblr-1780	79	29	by	by	ADP
cblr-1780	79	30	shareholders	shareholder	NOUN
cblr-1780	79	31	‘	'	PUNCT
cblr-1780	79	32	through	through	ADP
cblr-1780	79	33	the	the	DET
cblr-1780	79	34	procedures	procedure	NOUN
cblr-1780	79	35	of	of	ADP
cblr-1780	79	36	corporate	corporate	ADJ
cblr-1780	79	37	democracy	democracy	NOUN
cblr-1780	79	38	.	.	PUNCT
cblr-1780	79	39	’”22	’”22	X
cblr-1780	79	40	20	20	NUM
cblr-1780	79	41	citizens	citizen	NOUN
cblr-1780	79	42	united	unite	VERB
cblr-1780	79	43	v.	v.	ADP
cblr-1780	79	44	fed	fed	PROPN
cblr-1780	79	45	.	.	PUNCT
cblr-1780	80	1	election	election	NOUN
cblr-1780	80	2	comm’n	comm’n	NOUN
cblr-1780	80	3	,	,	PUNCT
cblr-1780	80	4	558	558	NUM
cblr-1780	80	5	u.s	u.s	PROPN
cblr-1780	80	6	.	.	PROPN
cblr-1780	80	7	310	310	NUM
cblr-1780	80	8	(	(	PUNCT
cblr-1780	80	9	2010	2010	NUM
cblr-1780	80	10	)	)	PUNCT
cblr-1780	80	11	.	.	PUNCT
cblr-1780	81	1	21	21	NUM
cblr-1780	81	2	for	for	ADP
cblr-1780	81	3	a	a	DET
cblr-1780	81	4	review	review	NOUN
cblr-1780	81	5	of	of	ADP
cblr-1780	81	6	some	some	PRON
cblr-1780	81	7	of	of	ADP
cblr-1780	81	8	the	the	DET
cblr-1780	81	9	concerns	concern	NOUN
cblr-1780	81	10	about	about	ADP
cblr-1780	81	11	the	the	DET
cblr-1780	81	12	adverse	adverse	ADJ
cblr-1780	81	13	effects	effect	NOUN
cblr-1780	81	14	of	of	ADP
cblr-1780	81	15	the	the	DET
cblr-1780	81	16	citizens	citizen	NOUN
cblr-1780	81	17	united	unite	VERB
cblr-1780	81	18	decision	decision	NOUN
cblr-1780	81	19	,	,	PUNCT
cblr-1780	81	20	see	see	VERB
cblr-1780	81	21	bradley	bradley	PROPN
cblr-1780	81	22	a.	a.	PROPN
cblr-1780	81	23	smith	smith	PROPN
cblr-1780	81	24	&	&	CCONJ
cblr-1780	81	25	allen	allen	PROPN
cblr-1780	81	26	dickerson	dickerson	PROPN
cblr-1780	81	27	,	,	PUNCT
cblr-1780	81	28	the	the	DET
cblr-1780	81	29	non	non	ADJ
cblr-1780	81	30	-	-	ADJ
cblr-1780	81	31	expert	expert	ADJ
cblr-1780	81	32	agency	agency	NOUN
cblr-1780	81	33	:	:	PUNCT
cblr-1780	81	34	using	use	VERB
cblr-1780	81	35	the	the	DET
cblr-1780	81	36	sec	sec	PROPN
cblr-1780	81	37	to	to	PART
cblr-1780	81	38	regulate	regulate	VERB
cblr-1780	81	39	partisan	partisan	ADJ
cblr-1780	81	40	politics	politic	NOUN
cblr-1780	81	41	,	,	PUNCT
cblr-1780	81	42	3	3	NUM
cblr-1780	81	43	harv	harv	NOUN
cblr-1780	81	44	.	.	PUNCT
cblr-1780	82	1	bus	bus	NOUN
cblr-1780	82	2	.	.	PUNCT
cblr-1780	83	1	l.	l.	PROPN
cblr-1780	83	2	rev	rev	PROPN
cblr-1780	83	3	.	.	PROPN
cblr-1780	83	4	419	419	NUM
cblr-1780	83	5	,	,	PUNCT
cblr-1780	83	6	423–24	423–24	PROPN
cblr-1780	83	7	(	(	PUNCT
cblr-1780	83	8	2013	2013	NUM
cblr-1780	83	9	)	)	PUNCT
cblr-1780	83	10	.	.	PUNCT
cblr-1780	84	1	see	see	VERB
cblr-1780	84	2	also	also	ADV
cblr-1780	84	3	president	president	PROPN
cblr-1780	84	4	barack	barack	PROPN
cblr-1780	84	5	h.	h.	PROPN
cblr-1780	84	6	obama	obama	PROPN
cblr-1780	84	7	,	,	PUNCT
cblr-1780	84	8	state	state	NOUN
cblr-1780	84	9	of	of	ADP
cblr-1780	84	10	the	the	DET
cblr-1780	84	11	union	union	NOUN
cblr-1780	84	12	address	address	NOUN
cblr-1780	84	13	(	(	PUNCT
cblr-1780	84	14	jan	jan	PROPN
cblr-1780	84	15	.	.	PROPN
cblr-1780	84	16	27	27	NUM
cblr-1780	84	17	,	,	PUNCT
cblr-1780	84	18	2010	2010	NUM
cblr-1780	84	19	)	)	PUNCT
cblr-1780	84	20	,	,	PUNCT
cblr-1780	84	21	available	available	ADJ
cblr-1780	84	22	at	at	ADP
cblr-1780	84	23	http://perma.cc/rj5h-w73x	http://perma.cc/rj5h-w73x	PROPN
cblr-1780	84	24	(	(	PUNCT
cblr-1780	84	25	“	"	PUNCT
cblr-1780	84	26	with	with	ADP
cblr-1780	84	27	all	all	DET
cblr-1780	84	28	due	due	ADJ
cblr-1780	84	29	deference	deference	NOUN
cblr-1780	84	30	to	to	ADP
cblr-1780	84	31	separation	separation	NOUN
cblr-1780	84	32	of	of	ADP
cblr-1780	84	33	powers	power	NOUN
cblr-1780	84	34	,	,	PUNCT
cblr-1780	84	35	last	last	ADJ
cblr-1780	84	36	week	week	NOUN
cblr-1780	84	37	the	the	DET
cblr-1780	84	38	supreme	supreme	PROPN
cblr-1780	84	39	court	court	PROPN
cblr-1780	84	40	reversed	reverse	VERB
cblr-1780	84	41	a	a	DET
cblr-1780	84	42	century	century	NOUN
cblr-1780	84	43	of	of	ADP
cblr-1780	84	44	law	law	NOUN
cblr-1780	84	45	[	[	X
cblr-1780	84	46	with	with	SCONJ
cblr-1780	84	47	the	the	DET
cblr-1780	84	48	citizens	citizen	NOUN
cblr-1780	84	49	united	unite	VERB
cblr-1780	84	50	decision	decision	NOUN
cblr-1780	84	51	]	]	PUNCT
cblr-1780	84	52	that	that	SCONJ
cblr-1780	84	53	i	i	PRON
cblr-1780	84	54	believe	believe	VERB
cblr-1780	84	55	will	will	AUX
cblr-1780	84	56	open	open	VERB
cblr-1780	84	57	the	the	DET
cblr-1780	84	58	floodgates	floodgate	NOUN
cblr-1780	84	59	for	for	ADP
cblr-1780	84	60	special	special	ADJ
cblr-1780	84	61	interests	interest	NOUN
cblr-1780	84	62	—	—	PUNCT
cblr-1780	84	63	including	include	VERB
cblr-1780	84	64	foreign	foreign	ADJ
cblr-1780	84	65	corporations	corporation	NOUN
cblr-1780	84	66	—	—	PUNCT
cblr-1780	84	67	to	to	PART
cblr-1780	84	68	spend	spend	VERB
cblr-1780	84	69	without	without	ADP
cblr-1780	84	70	limit	limit	NOUN
cblr-1780	84	71	in	in	ADP
cblr-1780	84	72	our	our	PRON
cblr-1780	84	73	elections	election	NOUN
cblr-1780	84	74	.	.	PUNCT
cblr-1780	85	1	i	i	PRON
cblr-1780	85	2	do	do	AUX
cblr-1780	85	3	n’t	not	PART
cblr-1780	85	4	think	think	VERB
cblr-1780	85	5	american	american	ADJ
cblr-1780	85	6	elections	election	NOUN
cblr-1780	85	7	should	should	AUX
cblr-1780	85	8	be	be	AUX
cblr-1780	85	9	bankrolled	bankroll	VERB
cblr-1780	85	10	by	by	ADP
cblr-1780	85	11	america	america	PROPN
cblr-1780	85	12	’s	’s	PART
cblr-1780	85	13	most	most	ADV
cblr-1780	85	14	powerful	powerful	ADJ
cblr-1780	85	15	interests	interest	NOUN
cblr-1780	85	16	,	,	PUNCT
cblr-1780	85	17	or	or	CCONJ
cblr-1780	85	18	worse	bad	ADJ
cblr-1780	85	19	,	,	PUNCT
cblr-1780	85	20	by	by	ADP
cblr-1780	85	21	foreign	foreign	ADJ
cblr-1780	85	22	entities	entity	NOUN
cblr-1780	85	23	.	.	PUNCT
cblr-1780	85	24	”	"	PUNCT
cblr-1780	85	25	)	)	PUNCT
cblr-1780	85	26	.	.	PUNCT
cblr-1780	86	1	for	for	ADP
cblr-1780	86	2	evidence	evidence	NOUN
cblr-1780	86	3	of	of	ADP
cblr-1780	86	4	increased	increase	VERB
cblr-1780	86	5	corporate	corporate	ADJ
cblr-1780	86	6	political	political	ADJ
cblr-1780	86	7	spending	spending	NOUN
cblr-1780	86	8	after	after	SCONJ
cblr-1780	86	9	the	the	DET
cblr-1780	86	10	citizens	citizen	NOUN
cblr-1780	86	11	united	unite	VERB
cblr-1780	86	12	decision	decision	NOUN
cblr-1780	86	13	,	,	PUNCT
cblr-1780	86	14	see	see	VERB
cblr-1780	86	15	samuel	samuel	PROPN
cblr-1780	86	16	issacharoff	issacharoff	PROPN
cblr-1780	86	17	&	&	CCONJ
cblr-1780	86	18	jeremy	jeremy	PROPN
cblr-1780	86	19	peterman	peterman	PROPN
cblr-1780	86	20	,	,	PUNCT
cblr-1780	86	21	special	special	ADJ
cblr-1780	86	22	interests	interest	NOUN
cblr-1780	86	23	after	after	SCONJ
cblr-1780	86	24	citizens	citizen	NOUN
cblr-1780	86	25	united	unite	VERB
cblr-1780	86	26	:	:	PUNCT
cblr-1780	86	27	access	access	NOUN
cblr-1780	86	28	,	,	PUNCT
cblr-1780	86	29	replacement	replacement	NOUN
cblr-1780	86	30	,	,	PUNCT
cblr-1780	86	31	and	and	CCONJ
cblr-1780	86	32	interest	interest	NOUN
cblr-1780	86	33	group	group	NOUN
cblr-1780	86	34	response	response	NOUN
cblr-1780	86	35	to	to	ADP
cblr-1780	86	36	legal	legal	ADJ
cblr-1780	86	37	change	change	NOUN
cblr-1780	86	38	,	,	PUNCT
cblr-1780	86	39	9	9	NUM
cblr-1780	86	40	ann	ann	PROPN
cblr-1780	86	41	.	.	PUNCT
cblr-1780	87	1	rev	rev	PROPN
cblr-1780	87	2	.	.	PROPN
cblr-1780	87	3	l.	l.	PROPN
cblr-1780	87	4	&	&	CCONJ
cblr-1780	87	5	soc	soc	PROPN
cblr-1780	87	6	.	.	PUNCT
cblr-1780	88	1	sci	sci	PROPN
cblr-1780	88	2	.	.	PROPN
cblr-1780	88	3	185	185	NUM
cblr-1780	88	4	,	,	PUNCT
cblr-1780	88	5	199–201	199–201	NUM
cblr-1780	88	6	(	(	PUNCT
cblr-1780	88	7	2013	2013	NUM
cblr-1780	88	8	)	)	PUNCT
cblr-1780	88	9	;	;	PUNCT
cblr-1780	88	10	tilman	tilman	PROPN
cblr-1780	88	11	klumpp	klumpp	PROPN
cblr-1780	88	12	,	,	PUNCT
cblr-1780	88	13	hugo	hugo	PROPN
cblr-1780	88	14	m.	m.	NOUN
cblr-1780	88	15	mialon	mialon	PROPN
cblr-1780	88	16	&	&	CCONJ
cblr-1780	88	17	michael	michael	PROPN
cblr-1780	88	18	a.	a.	PROPN
cblr-1780	88	19	williams	williams	PROPN
cblr-1780	88	20	,	,	PUNCT
cblr-1780	88	21	the	the	DET
cblr-1780	88	22	business	business	NOUN
cblr-1780	88	23	of	of	ADP
cblr-1780	88	24	american	american	ADJ
cblr-1780	88	25	democracy	democracy	NOUN
cblr-1780	88	26	:	:	PUNCT
cblr-1780	88	27	citizens	citizen	NOUN
cblr-1780	88	28	united	unite	VERB
cblr-1780	88	29	,	,	PUNCT
cblr-1780	88	30	independent	independent	ADJ
cblr-1780	88	31	spending	spending	NOUN
cblr-1780	88	32	,	,	PUNCT
cblr-1780	88	33	and	and	CCONJ
cblr-1780	88	34	elections	election	NOUN
cblr-1780	88	35	(	(	PUNCT
cblr-1780	88	36	july	july	PROPN
cblr-1780	88	37	2014	2014	NUM
cblr-1780	88	38	)	)	PUNCT
cblr-1780	88	39	,	,	PUNCT
cblr-1780	88	40	available	available	ADJ
cblr-1780	88	41	at	at	ADP
cblr-1780	88	42	http://perma.cc/gz6j-rryz	http://perma.cc/gz6j-rryz	PROPN
cblr-1780	88	43	.	.	PUNCT
cblr-1780	89	1	22	22	NUM
cblr-1780	89	2	citizens	citizen	NOUN
cblr-1780	89	3	united	unite	VERB
cblr-1780	89	4	,	,	PUNCT
cblr-1780	89	5	558	558	NUM
cblr-1780	89	6	u.s	u.s	PROPN
cblr-1780	89	7	.	.	PROPN
cblr-1780	89	8	at	at	ADP
cblr-1780	89	9	361	361	NUM
cblr-1780	89	10	(	(	PUNCT
cblr-1780	89	11	quoting	quote	VERB
cblr-1780	89	12	first	first	PROPN
cblr-1780	89	13	nat’l	nat’l	NUM
cblr-1780	89	14	bank	bank	PROPN
cblr-1780	89	15	of	of	ADP
cblr-1780	89	16	bos	bos	PROPN
cblr-1780	89	17	.	.	PUNCT
cblr-1780	90	1	v.	v.	ADP
cblr-1780	90	2	belotti	belotti	ADJ
cblr-1780	90	3	,	,	PUNCT
cblr-1780	90	4	425	425	NUM
cblr-1780	90	5	u.s	u.s	PROPN
cblr-1780	90	6	.	.	PROPN
cblr-1780	90	7	765	765	NUM
cblr-1780	90	8	,	,	PUNCT
cblr-1780	90	9	794	794	NUM
cblr-1780	90	10	(	(	PUNCT
cblr-1780	90	11	1978	1978	NUM
cblr-1780	90	12	)	)	PUNCT
cblr-1780	90	13	)	)	PUNCT
cblr-1780	90	14	.	.	PUNCT
cblr-1780	91	1	justice	justice	PROPN
cblr-1780	91	2	kennedy	kennedy	PROPN
cblr-1780	91	3	’s	’s	PART
cblr-1780	91	4	assertion	assertion	NOUN
cblr-1780	91	5	assumes	assume	VERB
cblr-1780	91	6	that	that	SCONJ
cblr-1780	91	7	the	the	DET
cblr-1780	91	8	interests	interest	NOUN
cblr-1780	91	9	of	of	ADP
cblr-1780	91	10	a	a	DET
cblr-1780	91	11	firm	firm	NOUN
cblr-1780	91	12	’s	’s	PART
cblr-1780	91	13	shareholders	shareholder	NOUN
cblr-1780	91	14	are	be	AUX
cblr-1780	91	15	generally	generally	ADV
cblr-1780	91	16	aligned	align	VERB
cblr-1780	91	17	with	with	ADP
cblr-1780	91	18	the	the	DET
cblr-1780	91	19	interests	interest	NOUN
cblr-1780	91	20	of	of	ADP
cblr-1780	91	21	the	the	DET
cblr-1780	91	22	public	public	NOUN
cblr-1780	91	23	at	at	ADP
cblr-1780	91	24	large	large	ADJ
cblr-1780	91	25	when	when	SCONJ
cblr-1780	91	26	considering	consider	VERB
cblr-1780	91	27	political	political	ADJ
cblr-1780	91	28	spending	spending	NOUN
cblr-1780	91	29	by	by	ADP
cblr-1780	91	30	corporations	corporation	NOUN
cblr-1780	91	31	.	.	PUNCT
cblr-1780	92	1	this	this	DET
cblr-1780	92	2	assumption	assumption	NOUN
cblr-1780	92	3	raises	raise	VERB
cblr-1780	92	4	issues	issue	NOUN
cblr-1780	92	5	beyond	beyond	ADP
cblr-1780	92	6	the	the	DET
cblr-1780	92	7	scope	scope	NOUN
cblr-1780	92	8	of	of	ADP
cblr-1780	92	9	this	this	DET
cblr-1780	92	10	article	article	NOUN
cblr-1780	92	11	,	,	PUNCT
cblr-1780	92	12	which	which	PRON
cblr-1780	92	13	considers	consider	VERB
cblr-1780	92	14	the	the	DET
cblr-1780	92	15	more	more	ADV
cblr-1780	92	16	limited	limited	ADJ
cblr-1780	92	17	question	question	NOUN
cblr-1780	92	18	of	of	ADP
cblr-1780	92	19	whether	whether	SCONJ
cblr-1780	92	20	making	make	VERB
cblr-1780	92	21	the	the	DET
cblr-1780	92	22	disclosure	disclosure	NOUN
cblr-1780	92	23	of	of	ADP
cblr-1780	92	24	political	political	ADJ
cblr-1780	92	25	spending	spending	NOUN
cblr-1780	92	26	mandatory	mandatory	ADJ
cblr-1780	92	27	will	will	AUX
cblr-1780	92	28	benefit	benefit	VERB
cblr-1780	92	29	public	public	ADJ
cblr-1780	92	30	company	company	NOUN
cblr-1780	92	31	shareholders	shareholder	NOUN
cblr-1780	92	32	.	.	PUNCT
cblr-1780	93	1	for	for	ADP
cblr-1780	93	2	a	a	DET
cblr-1780	93	3	discussion	discussion	NOUN
cblr-1780	93	4	of	of	ADP
cblr-1780	93	5	the	the	DET
cblr-1780	93	6	importance	importance	NOUN
cblr-1780	93	7	of	of	ADP
cblr-1780	93	8	distinguishing	distinguish	VERB
cblr-1780	93	9	between	between	ADP
cblr-1780	93	10	the	the	DET
cblr-1780	93	11	interests	interest	NOUN
cblr-1780	93	12	of	of	ADP
cblr-1780	93	13	public	public	ADJ
cblr-1780	93	14	company	company	NOUN
cblr-1780	93	15	shareholders	shareholder	NOUN
cblr-1780	93	16	and	and	CCONJ
cblr-1780	93	17	other	other	ADJ
cblr-1780	93	18	constituents	constituent	NOUN
cblr-1780	93	19	in	in	ADP
cblr-1780	93	20	information	information	NOUN
cblr-1780	93	21	about	about	ADP
cblr-1780	93	22	political	political	ADJ
cblr-1780	93	23	spending	spending	NOUN
cblr-1780	93	24	,	,	PUNCT
cblr-1780	93	25	see	see	VERB
cblr-1780	93	26	sarah	sarah	PROPN
cblr-1780	93	27	c.	c.	PROPN
cblr-1780	93	28	haan	haan	PROPN
cblr-1780	93	29	,	,	PUNCT
cblr-1780	93	30	voter	voter	NOUN
cblr-1780	93	31	primacy	primacy	NOUN
cblr-1780	93	32	,	,	PUNCT
cblr-1780	93	33	83	83	NUM
cblr-1780	93	34	fordham	fordham	PROPN
cblr-1780	93	35	l.	l.	PROPN
cblr-1780	93	36	rev	rev	PROPN
cblr-1780	93	37	.	.	PUNCT
cblr-1780	94	1	(	(	PUNCT
cblr-1780	94	2	forthcoming	forthcoming	ADJ
cblr-1780	94	3	2015	2015	NUM
cblr-1780	94	4	)	)	PUNCT
cblr-1780	94	5	.	.	PUNCT
cblr-1780	95	1	guttentag	guttentag	NOUN
cblr-1780	95	2	–	–	PUNCT
cblr-1780	95	3	final	final	ADJ
cblr-1780	95	4	no	no	NOUN
cblr-1780	95	5	.	.	PUNCT
cblr-1780	96	1	3:593	3:593	NUM
cblr-1780	96	2	]	]	PUNCT
cblr-1780	96	3	on	on	ADP
cblr-1780	96	4	political	political	ADJ
cblr-1780	96	5	spending	spending	NOUN
cblr-1780	96	6	disclosure	disclosure	NOUN
cblr-1780	96	7	601	601	NUM
cblr-1780	96	8	following	follow	VERB
cblr-1780	96	9	up	up	ADP
cblr-1780	96	10	on	on	ADP
cblr-1780	96	11	kennedy	kennedy	PROPN
cblr-1780	96	12	’s	’s	PART
cblr-1780	96	13	suggestion	suggestion	NOUN
cblr-1780	96	14	about	about	ADP
cblr-1780	96	15	the	the	DET
cblr-1780	96	16	potential	potential	ADJ
cblr-1780	96	17	efficacy	efficacy	NOUN
cblr-1780	96	18	of	of	ADP
cblr-1780	96	19	these	these	DET
cblr-1780	96	20	“	"	PUNCT
cblr-1780	96	21	procedures	procedure	NOUN
cblr-1780	96	22	of	of	ADP
cblr-1780	96	23	corporate	corporate	ADJ
cblr-1780	96	24	democracy	democracy	NOUN
cblr-1780	96	25	”	"	PUNCT
cblr-1780	96	26	to	to	PART
cblr-1780	96	27	limit	limit	VERB
cblr-1780	96	28	corporate	corporate	ADJ
cblr-1780	96	29	political	political	ADJ
cblr-1780	96	30	spending	spending	NOUN
cblr-1780	96	31	,	,	PUNCT
cblr-1780	96	32	lucien	lucien	PROPN
cblr-1780	96	33	bebchuk	bebchuk	PROPN
cblr-1780	96	34	and	and	CCONJ
cblr-1780	96	35	robert	robert	PROPN
cblr-1780	96	36	j.	j.	PROPN
cblr-1780	96	37	jackson	jackson	PROPN
cblr-1780	96	38	,	,	PUNCT
cblr-1780	96	39	jr	jr	PROPN
cblr-1780	96	40	.	.	PROPN
cblr-1780	96	41	wrote	write	VERB
cblr-1780	96	42	“	"	PUNCT
cblr-1780	96	43	corporate	corporate	ADJ
cblr-1780	96	44	political	political	ADJ
cblr-1780	96	45	speech	speech	NOUN
cblr-1780	96	46	:	:	PUNCT
cblr-1780	96	47	who	who	PRON
cblr-1780	96	48	decides	decide	VERB
cblr-1780	96	49	,	,	PUNCT
cblr-1780	96	50	”	"	PUNCT
cblr-1780	96	51	a	a	DET
cblr-1780	96	52	comment	comment	NOUN
cblr-1780	96	53	in	in	ADP
cblr-1780	96	54	the	the	DET
cblr-1780	96	55	harvard	harvard	PROPN
cblr-1780	96	56	law	law	PROPN
cblr-1780	96	57	review	review	NOUN
cblr-1780	96	58	(	(	PUNCT
cblr-1780	96	59	“	"	PUNCT
cblr-1780	96	60	who	who	PRON
cblr-1780	96	61	decides”).23	decides”).23	VERB
cblr-1780	96	62	in	in	ADP
cblr-1780	96	63	who	who	PRON
cblr-1780	96	64	decides	decide	VERB
cblr-1780	96	65	,	,	PUNCT
cblr-1780	96	66	bebchuk	bebchuk	PROPN
cblr-1780	96	67	and	and	CCONJ
cblr-1780	96	68	jackson	jackson	PROPN
cblr-1780	96	69	observe	observe	VERB
cblr-1780	96	70	that	that	SCONJ
cblr-1780	96	71	access	access	NOUN
cblr-1780	96	72	to	to	ADP
cblr-1780	96	73	information	information	NOUN
cblr-1780	96	74	about	about	ADP
cblr-1780	96	75	political	political	ADJ
cblr-1780	96	76	spending	spending	NOUN
cblr-1780	96	77	by	by	ADP
cblr-1780	96	78	public	public	ADJ
cblr-1780	96	79	companies	company	NOUN
cblr-1780	96	80	is	be	AUX
cblr-1780	96	81	a	a	DET
cblr-1780	96	82	necessary	necessary	ADJ
cblr-1780	96	83	,	,	PUNCT
cblr-1780	96	84	but	but	CCONJ
cblr-1780	96	85	often	often	ADV
cblr-1780	96	86	missing	miss	VERB
cblr-1780	96	87	,	,	PUNCT
cblr-1780	96	88	prerequisite	prerequisite	NOUN
cblr-1780	96	89	to	to	ADP
cblr-1780	96	90	the	the	DET
cblr-1780	96	91	application	application	NOUN
cblr-1780	96	92	of	of	ADP
cblr-1780	96	93	the	the	DET
cblr-1780	96	94	corporate	corporate	ADJ
cblr-1780	96	95	governance	governance	NOUN
cblr-1780	96	96	tools	tool	NOUN
cblr-1780	96	97	that	that	PRON
cblr-1780	96	98	kennedy	kennedy	PROPN
cblr-1780	96	99	referred	refer	VERB
cblr-1780	96	100	to	to	ADP
cblr-1780	96	101	in	in	ADP
cblr-1780	96	102	citizens	citizen	NOUN
cblr-1780	96	103	united.24	united.24	NOUN
cblr-1780	96	104	following	follow	VERB
cblr-1780	96	105	up	up	ADP
cblr-1780	96	106	on	on	ADP
cblr-1780	96	107	who	who	PRON
cblr-1780	96	108	decides	decide	VERB
cblr-1780	96	109	,	,	PUNCT
cblr-1780	96	110	bebchuk	bebchuk	PROPN
cblr-1780	96	111	and	and	CCONJ
cblr-1780	96	112	jackson	jackson	PROPN
cblr-1780	96	113	drafted	draft	VERB
cblr-1780	96	114	a	a	DET
cblr-1780	96	115	petition	petition	NOUN
cblr-1780	96	116	that	that	PRON
cblr-1780	96	117	was	be	AUX
cblr-1780	96	118	submitted	submit	VERB
cblr-1780	96	119	by	by	ADP
cblr-1780	96	120	a	a	DET
cblr-1780	96	121	group	group	NOUN
cblr-1780	96	122	of	of	ADP
cblr-1780	96	123	scholars	scholar	NOUN
cblr-1780	96	124	to	to	ADP
cblr-1780	96	125	the	the	DET
cblr-1780	96	126	sec	sec	PROPN
cblr-1780	96	127	asking	ask	VERB
cblr-1780	96	128	the	the	DET
cblr-1780	96	129	sec	sec	PROPN
cblr-1780	96	130	to	to	PART
cblr-1780	96	131	develop	develop	VERB
cblr-1780	96	132	a	a	DET
cblr-1780	96	133	rule	rule	NOUN
cblr-1780	96	134	requiring	require	VERB
cblr-1780	96	135	disclosure	disclosure	NOUN
cblr-1780	96	136	of	of	ADP
cblr-1780	96	137	political	political	ADJ
cblr-1780	96	138	spending	spending	NOUN
cblr-1780	96	139	by	by	ADP
cblr-1780	96	140	public	public	ADJ
cblr-1780	96	141	companies	company	NOUN
cblr-1780	96	142	(	(	PUNCT
cblr-1780	96	143	“	"	PUNCT
cblr-1780	96	144	bebchuk	bebchuk	NOUN
cblr-1780	96	145	petition”).25	petition”).25	NOUN
cblr-1780	96	146	the	the	DET
cblr-1780	96	147	bebchuk	bebchuk	NOUN
cblr-1780	96	148	petition	petition	NOUN
cblr-1780	96	149	has	have	AUX
cblr-1780	96	150	garnered	garner	VERB
cblr-1780	96	151	an	an	DET
cblr-1780	96	152	unprecedented	unprecedented	ADJ
cblr-1780	96	153	amount	amount	NOUN
cblr-1780	96	154	of	of	ADP
cblr-1780	96	155	attention.26	attention.26	PROPN
cblr-1780	96	156	more	more	ADV
cblr-1780	96	157	recently	recently	ADV
cblr-1780	96	158	,	,	PUNCT
cblr-1780	96	159	bebchuk	bebchuk	PROPN
cblr-1780	96	160	and	and	CCONJ
cblr-1780	96	161	jackson	jackson	PROPN
cblr-1780	96	162	published	publish	VERB
cblr-1780	96	163	shining	shine	VERB
cblr-1780	96	164	light	light	NOUN
cblr-1780	96	165	on	on	ADP
cblr-1780	96	166	corporate	corporate	ADJ
cblr-1780	96	167	political	political	ADJ
cblr-1780	96	168	spending	spending	NOUN
cblr-1780	96	169	,	,	PUNCT
cblr-1780	96	170	which	which	PRON
cblr-1780	96	171	offers	offer	VERB
cblr-1780	96	172	a	a	DET
cblr-1780	96	173	comprehensive	comprehensive	ADJ
cblr-1780	96	174	analysis	analysis	NOUN
cblr-1780	96	175	of	of	ADP
cblr-1780	96	176	the	the	DET
cblr-1780	96	177	arguments	argument	NOUN
cblr-1780	96	178	for	for	ADP
cblr-1780	96	179	and	and	CCONJ
cblr-1780	96	180	against	against	ADP
cblr-1780	96	181	requiring	require	VERB
cblr-1780	96	182	public	public	ADJ
cblr-1780	96	183	companies	company	NOUN
cblr-1780	96	184	to	to	PART
cblr-1780	96	185	disclose	disclose	VERB
cblr-1780	96	186	political	political	ADJ
cblr-1780	96	187	spending	spending	NOUN
cblr-1780	96	188	(	(	PUNCT
cblr-1780	96	189	“	"	PUNCT
cblr-1780	96	190	shining	shine	VERB
cblr-1780	96	191	light”).27	light”).27	PROPN
cblr-1780	96	192	a	a	DET
cblr-1780	96	193	detailed	detailed	ADJ
cblr-1780	96	194	consideration	consideration	NOUN
cblr-1780	96	195	of	of	ADP
cblr-1780	96	196	arguments	argument	NOUN
cblr-1780	96	197	offered	offer	VERB
cblr-1780	96	198	by	by	ADP
cblr-1780	96	199	bebchuk	bebchuk	NOUN
cblr-1780	96	200	and	and	CCONJ
cblr-1780	96	201	jackson	jackson	PROPN
cblr-1780	96	202	for	for	ADP
cblr-1780	96	203	political	political	ADJ
cblr-1780	96	204	spending	spending	NOUN
cblr-1780	96	205	disclosure	disclosure	NOUN
cblr-1780	96	206	highlights	highlight	NOUN
cblr-1780	96	207	what	what	PRON
cblr-1780	96	208	23	23	NUM
cblr-1780	96	209	lucien	lucien	PROPN
cblr-1780	96	210	a.	a.	PROPN
cblr-1780	96	211	bebchuk	bebchuk	PROPN
cblr-1780	96	212	&	&	CCONJ
cblr-1780	96	213	robert	robert	PROPN
cblr-1780	96	214	j.	j.	PROPN
cblr-1780	96	215	jackson	jackson	PROPN
cblr-1780	96	216	,	,	PUNCT
cblr-1780	96	217	jr	jr	PROPN
cblr-1780	96	218	.	.	PROPN
cblr-1780	96	219	,	,	PUNCT
cblr-1780	96	220	corporate	corporate	ADJ
cblr-1780	96	221	political	political	ADJ
cblr-1780	96	222	speech	speech	NOUN
cblr-1780	96	223	:	:	PUNCT
cblr-1780	96	224	who	who	PRON
cblr-1780	96	225	decides	decide	VERB
cblr-1780	96	226	?	?	PUNCT
cblr-1780	96	227	,	,	PUNCT
cblr-1780	96	228	124	124	NUM
cblr-1780	96	229	harv	harv	NOUN
cblr-1780	96	230	.	.	PUNCT
cblr-1780	97	1	l.	l.	PROPN
cblr-1780	97	2	rev	rev	PROPN
cblr-1780	97	3	.	.	PROPN
cblr-1780	97	4	83	83	NUM
cblr-1780	97	5	(	(	PUNCT
cblr-1780	97	6	2010	2010	NUM
cblr-1780	97	7	)	)	PUNCT
cblr-1780	98	1	[	[	X
cblr-1780	98	2	hereinafter	hereinafter	NOUN
cblr-1780	98	3	bebchuk	bebchuk	PROPN
cblr-1780	98	4	&	&	CCONJ
cblr-1780	98	5	jackson	jackson	PROPN
cblr-1780	98	6	,	,	PUNCT
cblr-1780	98	7	who	who	PRON
cblr-1780	98	8	decides	decide	VERB
cblr-1780	98	9	]	]	PUNCT
cblr-1780	98	10	.	.	PUNCT
cblr-1780	99	1	24	24	NUM
cblr-1780	100	1	i	i	PRON
cblr-1780	100	2	d.	d.	PROPN
cblr-1780	100	3	at	at	ADP
cblr-1780	100	4	104–07	104–07	NUM
cblr-1780	100	5	.	.	PUNCT
cblr-1780	101	1	as	as	ADP
cblr-1780	101	2	evidence	evidence	NOUN
cblr-1780	101	3	of	of	ADP
cblr-1780	101	4	the	the	DET
cblr-1780	101	5	potential	potential	ADJ
cblr-1780	101	6	magnitude	magnitude	NOUN
cblr-1780	101	7	of	of	ADP
cblr-1780	101	8	undisclosed	undisclosed	ADJ
cblr-1780	101	9	political	political	ADJ
cblr-1780	101	10	spending	spending	NOUN
cblr-1780	101	11	by	by	ADP
cblr-1780	101	12	public	public	ADJ
cblr-1780	101	13	companies	company	NOUN
cblr-1780	101	14	,	,	PUNCT
cblr-1780	101	15	bebchuk	bebchuk	PROPN
cblr-1780	101	16	and	and	CCONJ
cblr-1780	101	17	jackson	jackson	PROPN
cblr-1780	101	18	present	present	ADJ
cblr-1780	101	19	evidence	evidence	NOUN
cblr-1780	101	20	of	of	ADP
cblr-1780	101	21	substantial	substantial	ADJ
cblr-1780	101	22	sums	sum	NOUN
cblr-1780	101	23	that	that	SCONJ
cblr-1780	101	24	political	political	ADJ
cblr-1780	101	25	intermediaries	intermediary	NOUN
cblr-1780	101	26	,	,	PUNCT
cblr-1780	101	27	such	such	ADJ
cblr-1780	101	28	as	as	ADP
cblr-1780	101	29	the	the	DET
cblr-1780	101	30	chamber	chamber	PROPN
cblr-1780	101	31	of	of	ADP
cblr-1780	101	32	commerce	commerce	PROPN
cblr-1780	101	33	,	,	PUNCT
cblr-1780	101	34	raised	raise	VERB
cblr-1780	101	35	.	.	PUNCT
cblr-1780	102	1	i	i	PRON
cblr-1780	102	2	d.	d.	VERB
cblr-1780	102	3	at	at	ADP
cblr-1780	102	4	93–95	93–95	NUM
cblr-1780	102	5	.	.	PUNCT
cblr-1780	103	1	contributions	contribution	NOUN
cblr-1780	103	2	to	to	ADP
cblr-1780	103	3	political	political	ADJ
cblr-1780	103	4	intermediaries	intermediary	NOUN
cblr-1780	103	5	do	do	AUX
cblr-1780	103	6	not	not	PART
cblr-1780	103	7	need	need	VERB
cblr-1780	103	8	to	to	PART
cblr-1780	103	9	be	be	AUX
cblr-1780	103	10	disclosed	disclose	VERB
cblr-1780	103	11	in	in	ADP
cblr-1780	103	12	any	any	DET
cblr-1780	103	13	manner	manner	NOUN
cblr-1780	103	14	,	,	PUNCT
cblr-1780	103	15	and	and	CCONJ
cblr-1780	103	16	bebchuk	bebchuk	PROPN
cblr-1780	103	17	and	and	CCONJ
cblr-1780	103	18	jackson	jackson	PROPN
cblr-1780	103	19	speculate	speculate	VERB
cblr-1780	103	20	that	that	SCONJ
cblr-1780	103	21	the	the	DET
cblr-1780	103	22	supreme	supreme	PROPN
cblr-1780	103	23	court	court	PROPN
cblr-1780	103	24	’s	’s	PART
cblr-1780	103	25	holding	holding	NOUN
cblr-1780	103	26	in	in	ADP
cblr-1780	103	27	citizens	citizen	NOUN
cblr-1780	103	28	united	unite	VERB
cblr-1780	103	29	may	may	AUX
cblr-1780	103	30	have	have	AUX
cblr-1780	103	31	increased	increase	VERB
cblr-1780	103	32	significantly	significantly	ADV
cblr-1780	103	33	the	the	DET
cblr-1780	103	34	amount	amount	NOUN
cblr-1780	103	35	of	of	ADP
cblr-1780	103	36	such	such	ADJ
cblr-1780	103	37	political	political	ADJ
cblr-1780	103	38	spending	spending	NOUN
cblr-1780	103	39	.	.	PUNCT
cblr-1780	104	1	i	i	PRON
cblr-1780	104	2	d.	d.	PROPN
cblr-1780	104	3	see	see	VERB
cblr-1780	104	4	also	also	ADV
cblr-1780	104	5	john	john	PROPN
cblr-1780	104	6	c.	c.	PROPN
cblr-1780	104	7	coates	coat	VERB
cblr-1780	104	8	iv	iv	NUM
cblr-1780	104	9	,	,	PUNCT
cblr-1780	104	10	corporate	corporate	ADJ
cblr-1780	104	11	politics	politic	NOUN
cblr-1780	104	12	,	,	PUNCT
cblr-1780	104	13	governance	governance	NOUN
cblr-1780	104	14	,	,	PUNCT
cblr-1780	104	15	and	and	CCONJ
cblr-1780	104	16	value	value	NOUN
cblr-1780	104	17	before	before	ADV
cblr-1780	104	18	and	and	CCONJ
cblr-1780	104	19	after	after	SCONJ
cblr-1780	104	20	citizens	citizen	NOUN
cblr-1780	104	21	united	unite	VERB
cblr-1780	104	22	,	,	PUNCT
cblr-1780	104	23	9	9	NUM
cblr-1780	104	24	j.	j.	NOUN
cblr-1780	104	25	empirical	empirical	ADJ
cblr-1780	104	26	legal	legal	ADJ
cblr-1780	104	27	stud	stud	NOUN
cblr-1780	104	28	.	.	PUNCT
cblr-1780	105	1	657	657	NUM
cblr-1780	105	2	,	,	PUNCT
cblr-1780	105	3	661–63	661–63	NUM
cblr-1780	105	4	(	(	PUNCT
cblr-1780	105	5	2012	2012	NUM
cblr-1780	105	6	)	)	PUNCT
cblr-1780	105	7	(	(	PUNCT
cblr-1780	105	8	describing	describe	VERB
cblr-1780	105	9	the	the	DET
cblr-1780	105	10	various	various	ADJ
cblr-1780	105	11	ways	way	NOUN
cblr-1780	105	12	in	in	ADP
cblr-1780	105	13	which	which	PRON
cblr-1780	105	14	public	public	ADJ
cblr-1780	105	15	companies	company	NOUN
cblr-1780	105	16	can	can	AUX
cblr-1780	105	17	avoid	avoid	VERB
cblr-1780	105	18	reporting	report	VERB
cblr-1780	105	19	political	political	ADJ
cblr-1780	105	20	spending	spending	NOUN
cblr-1780	105	21	)	)	PUNCT
cblr-1780	105	22	.	.	PUNCT
cblr-1780	106	1	25	25	NUM
cblr-1780	106	2	bebchuk	bebchuk	NOUN
cblr-1780	106	3	petition	petition	NOUN
cblr-1780	106	4	,	,	PUNCT
cblr-1780	106	5	supra	supra	PROPN
cblr-1780	106	6	note	note	NOUN
cblr-1780	106	7	4	4	NUM
cblr-1780	106	8	.	.	SYM
cblr-1780	106	9	26	26	NUM
cblr-1780	106	10	see	see	VERB
cblr-1780	106	11	supra	supra	PROPN
cblr-1780	106	12	note	note	NOUN
cblr-1780	106	13	5	5	NUM
cblr-1780	106	14	and	and	CCONJ
cblr-1780	106	15	accompanying	accompany	VERB
cblr-1780	106	16	text	text	NOUN
cblr-1780	106	17	.	.	PUNCT
cblr-1780	107	1	27	27	NUM
cblr-1780	107	2	lucien	lucien	PROPN
cblr-1780	107	3	a.	a.	PROPN
cblr-1780	107	4	bebchuk	bebchuk	PROPN
cblr-1780	107	5	&	&	CCONJ
cblr-1780	107	6	robert	robert	PROPN
cblr-1780	107	7	j.	j.	PROPN
cblr-1780	107	8	jackson	jackson	PROPN
cblr-1780	107	9	,	,	PUNCT
cblr-1780	107	10	jr	jr	PROPN
cblr-1780	107	11	.	.	PROPN
cblr-1780	107	12	,	,	PUNCT
cblr-1780	107	13	shining	shine	VERB
cblr-1780	107	14	light	light	NOUN
cblr-1780	107	15	on	on	ADP
cblr-1780	107	16	corporate	corporate	ADJ
cblr-1780	107	17	political	political	ADJ
cblr-1780	107	18	spending	spending	NOUN
cblr-1780	107	19	,	,	PUNCT
cblr-1780	107	20	101	101	NUM
cblr-1780	107	21	geo	geo	PROPN
cblr-1780	107	22	.	.	PUNCT
cblr-1780	107	23	l.j	l.j	PROPN
cblr-1780	107	24	.	.	PROPN
cblr-1780	107	25	923	923	NUM
cblr-1780	107	26	,	,	PUNCT
cblr-1780	107	27	925–26	925–26	NOUN
cblr-1780	107	28	(	(	PUNCT
cblr-1780	107	29	2013	2013	NUM
cblr-1780	107	30	)	)	PUNCT
cblr-1780	108	1	[	[	X
cblr-1780	108	2	hereinafter	hereinafter	NOUN
cblr-1780	108	3	,	,	PUNCT
cblr-1780	108	4	bebchuk	bebchuk	PROPN
cblr-1780	108	5	&	&	CCONJ
cblr-1780	108	6	jackson	jackson	PROPN
cblr-1780	108	7	,	,	PUNCT
cblr-1780	108	8	shining	shine	VERB
cblr-1780	108	9	light	light	NOUN
cblr-1780	108	10	]	]	PUNCT
cblr-1780	108	11	.	.	PUNCT
cblr-1780	109	1	guttentag	guttentag	NOUN
cblr-1780	109	2	–	–	PUNCT
cblr-1780	109	3	final	final	ADJ
cblr-1780	109	4	602	602	NUM
cblr-1780	109	5	columbia	columbia	PROPN
cblr-1780	109	6	business	business	NOUN
cblr-1780	109	7	law	law	PROPN
cblr-1780	109	8	review	review	NOUN
cblr-1780	110	1	[	[	X
cblr-1780	110	2	vol	vol	NOUN
cblr-1780	110	3	.	.	PUNCT
cblr-1780	110	4	2014	2014	NUM
cblr-1780	110	5	is	be	AUX
cblr-1780	110	6	missing	miss	VERB
cblr-1780	110	7	thus	thus	ADV
cblr-1780	110	8	far	far	ADV
cblr-1780	110	9	in	in	ADP
cblr-1780	110	10	the	the	DET
cblr-1780	110	11	debate	debate	NOUN
cblr-1780	110	12	on	on	ADP
cblr-1780	110	13	making	make	VERB
cblr-1780	110	14	this	this	DET
cblr-1780	110	15	disclosure	disclosure	NOUN
cblr-1780	110	16	mandatory	mandatory	ADJ
cblr-1780	110	17	for	for	ADP
cblr-1780	110	18	public	public	ADJ
cblr-1780	110	19	companies	company	NOUN
cblr-1780	110	20	.	.	PUNCT
cblr-1780	111	1	i	i	PRON
cblr-1780	111	2	focus	focus	VERB
cblr-1780	111	3	on	on	ADP
cblr-1780	111	4	bebchuk	bebchuk	PROPN
cblr-1780	111	5	and	and	CCONJ
cblr-1780	111	6	jackson	jackson	PROPN
cblr-1780	111	7	’s	’s	PART
cblr-1780	111	8	work	work	NOUN
cblr-1780	111	9	for	for	ADP
cblr-1780	111	10	four	four	NUM
cblr-1780	111	11	reasons.28	reasons.28	NOUN
cblr-1780	111	12	first	first	ADV
cblr-1780	111	13	,	,	PUNCT
cblr-1780	111	14	bebchuk	bebchuk	NOUN
cblr-1780	111	15	and	and	CCONJ
cblr-1780	111	16	28	28	NUM
cblr-1780	111	17	there	there	PRON
cblr-1780	111	18	are	be	VERB
cblr-1780	111	19	certainly	certainly	ADV
cblr-1780	111	20	other	other	ADJ
cblr-1780	111	21	sources	source	NOUN
cblr-1780	111	22	for	for	ADP
cblr-1780	111	23	arguments	argument	NOUN
cblr-1780	111	24	for	for	ADP
cblr-1780	111	25	requiring	require	VERB
cblr-1780	111	26	public	public	ADJ
cblr-1780	111	27	companies	company	NOUN
cblr-1780	111	28	to	to	PART
cblr-1780	111	29	disclose	disclose	VERB
cblr-1780	111	30	political	political	ADJ
cblr-1780	111	31	spending	spending	NOUN
cblr-1780	111	32	.	.	PUNCT
cblr-1780	112	1	for	for	ADP
cblr-1780	112	2	example	example	NOUN
cblr-1780	112	3	,	,	PUNCT
cblr-1780	112	4	there	there	PRON
cblr-1780	112	5	is	be	VERB
cblr-1780	112	6	the	the	DET
cblr-1780	112	7	excellent	excellent	ADJ
cblr-1780	112	8	scholarship	scholarship	NOUN
cblr-1780	112	9	by	by	ADP
cblr-1780	112	10	ciara	ciara	PROPN
cblr-1780	112	11	torres	torres	PROPN
cblr-1780	112	12	-	-	PUNCT
cblr-1780	112	13	spelliscy	spelliscy	NOUN
cblr-1780	112	14	.	.	PUNCT
cblr-1780	113	1	see	see	VERB
cblr-1780	113	2	,	,	PUNCT
cblr-1780	113	3	e.g.	e.g.	ADV
cblr-1780	113	4	,	,	PUNCT
cblr-1780	113	5	corporate	corporate	ADJ
cblr-1780	113	6	governance	governance	NOUN
cblr-1780	113	7	after	after	SCONJ
cblr-1780	113	8	citizens	citizen	NOUN
cblr-1780	113	9	united	unite	VERB
cblr-1780	113	10	:	:	PUNCT
cblr-1780	113	11	hearing	hear	VERB
cblr-1780	113	12	before	before	ADP
cblr-1780	113	13	the	the	DET
cblr-1780	113	14	subcomm	subcomm	NOUN
cblr-1780	113	15	.	.	PUNCT
cblr-1780	114	1	on	on	ADP
cblr-1780	114	2	capital	capital	NOUN
cblr-1780	114	3	mkts	mkts	NOUN
cblr-1780	114	4	.	.	PUNCT
cblr-1780	114	5	,	,	PUNCT
cblr-1780	114	6	ins	ins	PROPN
cblr-1780	114	7	.	.	PROPN
cblr-1780	114	8	&	&	CCONJ
cblr-1780	114	9	gov’t	gov’t	PROPN
cblr-1780	114	10	sponsored	sponsor	VERB
cblr-1780	114	11	enters	enter	NOUN
cblr-1780	114	12	.	.	PUNCT
cblr-1780	115	1	of	of	ADP
cblr-1780	115	2	the	the	DET
cblr-1780	115	3	h.	h.	PROPN
cblr-1780	115	4	comm	comm	NOUN
cblr-1780	115	5	.	.	PUNCT
cblr-1780	116	1	on	on	ADP
cblr-1780	116	2	fin	fin	NOUN
cblr-1780	116	3	.	.	PUNCT
cblr-1780	117	1	servs	servs	PROPN
cblr-1780	117	2	.	.	PROPN
cblr-1780	117	3	,	,	PUNCT
cblr-1780	117	4	111th	111th	ADJ
cblr-1780	117	5	cong	cong	NOUN
cblr-1780	117	6	.	.	PUNCT
cblr-1780	118	1	192–210	192–210	NUM
cblr-1780	118	2	(	(	PUNCT
cblr-1780	118	3	2010	2010	NUM
cblr-1780	118	4	)	)	PUNCT
cblr-1780	118	5	(	(	PUNCT
cblr-1780	118	6	written	write	VERB
cblr-1780	118	7	statement	statement	NOUN
cblr-1780	118	8	of	of	ADP
cblr-1780	118	9	ciara	ciara	PROPN
cblr-1780	118	10	torresspelliscy	torresspelliscy	PROPN
cblr-1780	118	11	,	,	PUNCT
cblr-1780	118	12	counsel	counsel	NOUN
cblr-1780	118	13	,	,	PUNCT
cblr-1780	118	14	brennan	brennan	PROPN
cblr-1780	118	15	center	center	PROPN
cblr-1780	118	16	for	for	ADP
cblr-1780	118	17	justice	justice	NOUN
cblr-1780	118	18	)	)	PUNCT
cblr-1780	118	19	;	;	PUNCT
cblr-1780	118	20	ciara	ciara	PROPN
cblr-1780	118	21	torres	torres	PROPN
cblr-1780	118	22	-	-	PUNCT
cblr-1780	118	23	spelliscy	spelliscy	NOUN
cblr-1780	118	24	,	,	PUNCT
cblr-1780	118	25	hiding	hide	VERB
cblr-1780	118	26	behind	behind	ADP
cblr-1780	118	27	the	the	DET
cblr-1780	118	28	tax	tax	NOUN
cblr-1780	118	29	code	code	NOUN
cblr-1780	118	30	,	,	PUNCT
cblr-1780	118	31	the	the	DET
cblr-1780	118	32	dark	dark	ADJ
cblr-1780	118	33	election	election	NOUN
cblr-1780	118	34	of	of	ADP
cblr-1780	118	35	2010	2010	NUM
cblr-1780	118	36	and	and	CCONJ
cblr-1780	118	37	why	why	SCONJ
cblr-1780	118	38	taxexempt	taxexempt	ADJ
cblr-1780	118	39	entities	entity	NOUN
cblr-1780	118	40	should	should	AUX
cblr-1780	118	41	be	be	AUX
cblr-1780	118	42	subject	subject	ADJ
cblr-1780	118	43	to	to	ADP
cblr-1780	118	44	robust	robust	ADJ
cblr-1780	118	45	federal	federal	ADJ
cblr-1780	118	46	campaign	campaign	NOUN
cblr-1780	118	47	finance	finance	NOUN
cblr-1780	118	48	disclosure	disclosure	NOUN
cblr-1780	118	49	laws	law	NOUN
cblr-1780	118	50	,	,	PUNCT
cblr-1780	118	51	16	16	NUM
cblr-1780	118	52	nexus	nexus	NOUN
cblr-1780	118	53	:	:	PUNCT
cblr-1780	118	54	chap	chap	PROPN
cblr-1780	118	55	.	.	PUNCT
cblr-1780	119	1	j.l	j.l	PROPN
cblr-1780	119	2	.	.	PROPN
cblr-1780	119	3	&	&	CCONJ
cblr-1780	119	4	pol’y	pol’y	NOUN
cblr-1780	119	5	59	59	NUM
cblr-1780	119	6	,	,	PUNCT
cblr-1780	119	7	62–63	62–63	NUM
cblr-1780	119	8	(	(	PUNCT
cblr-1780	119	9	2011	2011	NUM
cblr-1780	119	10	)	)	PUNCT
cblr-1780	119	11	(	(	PUNCT
cblr-1780	119	12	discussing	discuss	VERB
cblr-1780	119	13	disclosure	disclosure	NOUN
cblr-1780	119	14	loopholes	loophole	NOUN
cblr-1780	119	15	in	in	ADP
cblr-1780	119	16	federal	federal	ADJ
cblr-1780	119	17	and	and	CCONJ
cblr-1780	119	18	state	state	NOUN
cblr-1780	119	19	laws	law	NOUN
cblr-1780	119	20	)	)	PUNCT
cblr-1780	119	21	;	;	PUNCT
cblr-1780	119	22	ciara	ciara	PROPN
cblr-1780	119	23	torresspelliscy	torresspelliscy	PROPN
cblr-1780	119	24	,	,	PUNCT
cblr-1780	119	25	brennan	brennan	PROPN
cblr-1780	119	26	ctr	ctr	PROPN
cblr-1780	119	27	.	.	PUNCT
cblr-1780	120	1	for	for	ADP
cblr-1780	120	2	justice	justice	NOUN
cblr-1780	120	3	,	,	PUNCT
cblr-1780	120	4	corporate	corporate	ADJ
cblr-1780	120	5	campaign	campaign	NOUN
cblr-1780	120	6	spending	spending	NOUN
cblr-1780	120	7	:	:	PUNCT
cblr-1780	120	8	giving	give	VERB
cblr-1780	120	9	shareholders	shareholder	NOUN
cblr-1780	120	10	a	a	DET
cblr-1780	120	11	voice	voice	NOUN
cblr-1780	120	12	4	4	NUM
cblr-1780	120	13	(	(	PUNCT
cblr-1780	120	14	2010	2010	NUM
cblr-1780	120	15	)	)	PUNCT
cblr-1780	120	16	,	,	PUNCT
cblr-1780	120	17	http://perma.cc/9r68-s7jy	http://perma.cc/9r68-s7jy	NOUN
cblr-1780	120	18	(	(	PUNCT
cblr-1780	120	19	arguing	argue	VERB
cblr-1780	120	20	for	for	ADP
cblr-1780	120	21	disclosure	disclosure	NOUN
cblr-1780	120	22	and	and	CCONJ
cblr-1780	120	23	mandatory	mandatory	ADJ
cblr-1780	120	24	shareholder	shareholder	NOUN
cblr-1780	120	25	consent	consent	NOUN
cblr-1780	120	26	for	for	ADP
cblr-1780	120	27	political	political	ADJ
cblr-1780	120	28	spending	spending	NOUN
cblr-1780	120	29	)	)	PUNCT
cblr-1780	120	30	;	;	PUNCT
cblr-1780	120	31	ciara	ciara	PROPN
cblr-1780	120	32	torres	torres	PROPN
cblr-1780	120	33	-	-	PUNCT
cblr-1780	120	34	spelliscy	spelliscy	ADJ
cblr-1780	120	35	,	,	PUNCT
cblr-1780	120	36	corporate	corporate	ADJ
cblr-1780	120	37	reform	reform	NOUN
cblr-1780	120	38	coal	coal	NOUN
cblr-1780	120	39	.	.	PUNCT
cblr-1780	121	1	,	,	PUNCT
cblr-1780	121	2	the	the	DET
cblr-1780	121	3	sec	sec	PROPN
cblr-1780	121	4	and	and	CCONJ
cblr-1780	121	5	dark	dark	ADJ
cblr-1780	121	6	political	political	ADJ
cblr-1780	121	7	money	money	NOUN
cblr-1780	121	8	:	:	PUNCT
cblr-1780	121	9	an	an	DET
cblr-1780	121	10	historical	historical	ADJ
cblr-1780	121	11	argument	argument	NOUN
cblr-1780	121	12	for	for	ADP
cblr-1780	121	13	requiring	require	VERB
cblr-1780	121	14	disclosure	disclosure	NOUN
cblr-1780	121	15	4–5	4–5	PROPN
cblr-1780	121	16	(	(	PUNCT
cblr-1780	121	17	june	june	PROPN
cblr-1780	121	18	18	18	NUM
cblr-1780	121	19	,	,	PUNCT
cblr-1780	121	20	2013	2013	NUM
cblr-1780	121	21	)	)	PUNCT
cblr-1780	121	22	,	,	PUNCT
cblr-1780	121	23	http://perma.cc/una4-gsta	http://perma.cc/una4-gsta	PROPN
cblr-1780	122	1	[	[	X
cblr-1780	122	2	hereinafter	hereinafter	NOUN
cblr-1780	122	3	,	,	PUNCT
cblr-1780	122	4	torres	torre	NOUN
cblr-1780	122	5	-	-	PUNCT
cblr-1780	122	6	spelliscy	spelliscy	ADJ
cblr-1780	122	7	,	,	PUNCT
cblr-1780	122	8	dark	dark	ADJ
cblr-1780	122	9	political	political	ADJ
cblr-1780	122	10	money	money	NOUN
cblr-1780	122	11	]	]	PUNCT
cblr-1780	122	12	(	(	PUNCT
cblr-1780	122	13	reviewing	review	VERB
cblr-1780	122	14	three	three	NUM
cblr-1780	122	15	examples	example	NOUN
cblr-1780	122	16	of	of	ADP
cblr-1780	122	17	sec	sec	PROPN
cblr-1780	122	18	involvement	involvement	NOUN
cblr-1780	122	19	in	in	ADP
cblr-1780	122	20	matters	matter	NOUN
cblr-1780	122	21	related	relate	VERB
cblr-1780	122	22	to	to	ADP
cblr-1780	122	23	political	political	ADJ
cblr-1780	122	24	spending	spending	NOUN
cblr-1780	122	25	over	over	ADP
cblr-1780	122	26	the	the	DET
cblr-1780	122	27	past	past	ADJ
cblr-1780	122	28	four	four	NUM
cblr-1780	122	29	decades	decade	NOUN
cblr-1780	122	30	)	)	PUNCT
cblr-1780	122	31	.	.	PUNCT
cblr-1780	123	1	also	also	ADV
cblr-1780	123	2	relevant	relevant	ADJ
cblr-1780	123	3	to	to	ADP
cblr-1780	123	4	the	the	DET
cblr-1780	123	5	debate	debate	NOUN
cblr-1780	123	6	on	on	ADP
cblr-1780	123	7	requiring	require	VERB
cblr-1780	123	8	the	the	DET
cblr-1780	123	9	disclosure	disclosure	NOUN
cblr-1780	123	10	of	of	ADP
cblr-1780	123	11	political	political	ADJ
cblr-1780	123	12	spending	spending	NOUN
cblr-1780	123	13	are	be	AUX
cblr-1780	123	14	congressional	congressional	ADJ
cblr-1780	123	15	hearings	hearing	NOUN
cblr-1780	123	16	held	hold	VERB
cblr-1780	123	17	shortly	shortly	ADV
cblr-1780	123	18	after	after	ADP
cblr-1780	123	19	the	the	DET
cblr-1780	123	20	decision	decision	NOUN
cblr-1780	123	21	in	in	ADP
cblr-1780	123	22	citizens	citizen	NOUN
cblr-1780	123	23	united	unite	VERB
cblr-1780	123	24	and	and	CCONJ
cblr-1780	123	25	,	,	PUNCT
cblr-1780	123	26	in	in	ADP
cblr-1780	123	27	particular	particular	ADJ
cblr-1780	123	28	,	,	PUNCT
cblr-1780	123	29	the	the	DET
cblr-1780	123	30	testimony	testimony	NOUN
cblr-1780	123	31	of	of	ADP
cblr-1780	123	32	professor	professor	NOUN
cblr-1780	123	33	john	john	PROPN
cblr-1780	123	34	coffee	coffee	PROPN
cblr-1780	123	35	,	,	PUNCT
cblr-1780	123	36	one	one	NUM
cblr-1780	123	37	of	of	ADP
cblr-1780	123	38	the	the	DET
cblr-1780	123	39	co	co	NOUN
cblr-1780	123	40	-	-	NOUN
cblr-1780	123	41	authors	author	NOUN
cblr-1780	123	42	of	of	ADP
cblr-1780	123	43	the	the	DET
cblr-1780	123	44	bebchuk	bebchuk	NOUN
cblr-1780	123	45	petition	petition	NOUN
cblr-1780	123	46	.	.	PUNCT
cblr-1780	124	1	see	see	VERB
cblr-1780	124	2	corporate	corporate	ADJ
cblr-1780	124	3	governance	governance	NOUN
cblr-1780	124	4	after	after	SCONJ
cblr-1780	124	5	citizens	citizen	NOUN
cblr-1780	124	6	united	unite	VERB
cblr-1780	124	7	:	:	PUNCT
cblr-1780	124	8	hearing	hear	VERB
cblr-1780	124	9	before	before	ADP
cblr-1780	124	10	the	the	DET
cblr-1780	124	11	subcomm	subcomm	NOUN
cblr-1780	124	12	.	.	PUNCT
cblr-1780	125	1	on	on	ADP
cblr-1780	125	2	capital	capital	NOUN
cblr-1780	125	3	mkts	mkts	NOUN
cblr-1780	125	4	.	.	PUNCT
cblr-1780	125	5	,	,	PUNCT
cblr-1780	125	6	ins	ins	PROPN
cblr-1780	125	7	.	.	PROPN
cblr-1780	125	8	&	&	CCONJ
cblr-1780	125	9	gov’t	gov’t	PROPN
cblr-1780	125	10	sponsored	sponsor	VERB
cblr-1780	125	11	enters	enter	NOUN
cblr-1780	125	12	.	.	PUNCT
cblr-1780	126	1	of	of	ADP
cblr-1780	126	2	the	the	DET
cblr-1780	126	3	h.	h.	PROPN
cblr-1780	126	4	comm	comm	NOUN
cblr-1780	126	5	.	.	PUNCT
cblr-1780	127	1	on	on	ADP
cblr-1780	127	2	fin	fin	NOUN
cblr-1780	127	3	.	.	PUNCT
cblr-1780	128	1	servs	servs	PROPN
cblr-1780	128	2	.	.	PROPN
cblr-1780	128	3	,	,	PUNCT
cblr-1780	128	4	111th	111th	ADJ
cblr-1780	128	5	cong	cong	NOUN
cblr-1780	128	6	.	.	PUNCT
cblr-1780	129	1	5–8	5–8	NUM
cblr-1780	129	2	(	(	PUNCT
cblr-1780	129	3	2010	2010	NUM
cblr-1780	129	4	)	)	PUNCT
cblr-1780	129	5	(	(	PUNCT
cblr-1780	129	6	statement	statement	NOUN
cblr-1780	129	7	of	of	ADP
cblr-1780	129	8	john	john	PROPN
cblr-1780	129	9	c.	c.	PROPN
cblr-1780	129	10	coffee	coffee	PROPN
cblr-1780	129	11	,	,	PUNCT
cblr-1780	129	12	jr	jr	PROPN
cblr-1780	129	13	.	.	PROPN
cblr-1780	129	14	,	,	PUNCT
cblr-1780	129	15	adolf	adolf	PROPN
cblr-1780	129	16	a.	a.	PROPN
cblr-1780	129	17	berle	berle	PROPN
cblr-1780	129	18	professor	professor	PROPN
cblr-1780	129	19	of	of	ADP
cblr-1780	129	20	law	law	PROPN
cblr-1780	129	21	,	,	PUNCT
cblr-1780	129	22	columbia	columbia	PROPN
cblr-1780	129	23	law	law	PROPN
cblr-1780	129	24	school	school	PROPN
cblr-1780	129	25	)	)	PUNCT
cblr-1780	129	26	.	.	PUNCT
cblr-1780	130	1	the	the	DET
cblr-1780	130	2	bebchuk	bebchuk	PROPN
cblr-1780	130	3	and	and	CCONJ
cblr-1780	130	4	jackson	jackson	PROPN
cblr-1780	130	5	arguments	argument	NOUN
cblr-1780	130	6	for	for	ADP
cblr-1780	130	7	mandatory	mandatory	ADJ
cblr-1780	130	8	disclosure	disclosure	NOUN
cblr-1780	130	9	of	of	ADP
cblr-1780	130	10	political	political	ADJ
cblr-1780	130	11	spending	spending	NOUN
cblr-1780	130	12	have	have	AUX
cblr-1780	130	13	already	already	ADV
cblr-1780	130	14	generated	generate	VERB
cblr-1780	130	15	a	a	DET
cblr-1780	130	16	large	large	ADJ
cblr-1780	130	17	amount	amount	NOUN
cblr-1780	130	18	of	of	ADP
cblr-1780	130	19	criticism	criticism	NOUN
cblr-1780	130	20	.	.	PUNCT
cblr-1780	131	1	among	among	ADP
cblr-1780	131	2	the	the	DET
cblr-1780	131	3	important	important	ADJ
cblr-1780	131	4	criticisms	criticism	NOUN
cblr-1780	131	5	that	that	PRON
cblr-1780	131	6	were	be	AUX
cblr-1780	131	7	submitted	submit	VERB
cblr-1780	131	8	in	in	ADP
cblr-1780	131	9	comment	comment	NOUN
cblr-1780	131	10	letters	letter	NOUN
cblr-1780	131	11	to	to	ADP
cblr-1780	131	12	the	the	DET
cblr-1780	131	13	sec	sec	PROPN
cblr-1780	131	14	are	be	AUX
cblr-1780	131	15	:	:	PUNCT
cblr-1780	131	16	letter	letter	NOUN
cblr-1780	131	17	from	from	ADP
cblr-1780	131	18	james	james	PROPN
cblr-1780	131	19	j.	j.	PROPN
cblr-1780	131	20	angel	angel	PROPN
cblr-1780	131	21	,	,	PUNCT
cblr-1780	131	22	assoc	assoc	PROPN
cblr-1780	131	23	.	.	PUNCT
cblr-1780	132	1	professor	professor	NOUN
cblr-1780	132	2	of	of	ADP
cblr-1780	132	3	fin	fin	PROPN
cblr-1780	132	4	.	.	PUNCT
cblr-1780	132	5	,	,	PUNCT
cblr-1780	132	6	georgetown	georgetown	PROPN
cblr-1780	132	7	univ	univ	PROPN
cblr-1780	132	8	.	.	PROPN
cblr-1780	132	9	,	,	PUNCT
cblr-1780	132	10	mcdonough	mcdonough	PROPN
cblr-1780	132	11	sch	sch	PROPN
cblr-1780	132	12	.	.	PROPN
cblr-1780	132	13	of	of	ADP
cblr-1780	132	14	bus	bus	NOUN
cblr-1780	132	15	.	.	PUNCT
cblr-1780	132	16	,	,	PUNCT
cblr-1780	132	17	to	to	ADP
cblr-1780	132	18	u.s	u.s	PROPN
cblr-1780	132	19	.	.	PROPN
cblr-1780	132	20	sec	sec	PROPN
cblr-1780	132	21	.	.	PROPN
cblr-1780	132	22	&	&	CCONJ
cblr-1780	132	23	exch	exch	PROPN
cblr-1780	132	24	.	.	PUNCT
cblr-1780	133	1	comm’n	comm’n	PROPN
cblr-1780	133	2	(	(	PUNCT
cblr-1780	133	3	mar	mar	PROPN
cblr-1780	133	4	.	.	PROPN
cblr-1780	133	5	22	22	NUM
cblr-1780	133	6	,	,	PUNCT
cblr-1780	133	7	2013	2013	NUM
cblr-1780	133	8	)	)	PUNCT
cblr-1780	134	1	[	[	X
cblr-1780	134	2	hereinafter	hereinafter	NOUN
cblr-1780	134	3	angel	angel	NOUN
cblr-1780	134	4	letter	letter	NOUN
cblr-1780	134	5	]	]	PUNCT
cblr-1780	134	6	,	,	PUNCT
cblr-1780	134	7	available	available	ADJ
cblr-1780	134	8	at	at	ADP
cblr-1780	134	9	http://perma.cc/pjb4-paxw	http://perma.cc/pjb4-paxw	PROPN
cblr-1780	134	10	(	(	PUNCT
cblr-1780	134	11	noting	note	VERB
cblr-1780	134	12	shortcomings	shortcoming	NOUN
cblr-1780	134	13	in	in	ADP
cblr-1780	134	14	the	the	DET
cblr-1780	134	15	political	political	ADJ
cblr-1780	134	16	spending	spending	NOUN
cblr-1780	134	17	disclosure	disclosure	NOUN
cblr-1780	134	18	proposal	proposal	NOUN
cblr-1780	134	19	,	,	PUNCT
cblr-1780	134	20	including	include	VERB
cblr-1780	134	21	that	that	PRON
cblr-1780	134	22	:	:	PUNCT
cblr-1780	134	23	(	(	PUNCT
cblr-1780	134	24	1	1	X
cblr-1780	134	25	)	)	PUNCT
cblr-1780	134	26	placing	place	VERB
cblr-1780	134	27	disclosure	disclosure	NOUN
cblr-1780	134	28	burdens	burden	NOUN
cblr-1780	134	29	on	on	ADP
cblr-1780	134	30	public	public	ADJ
cblr-1780	134	31	companies	company	NOUN
cblr-1780	134	32	will	will	AUX
cblr-1780	134	33	further	further	VERB
cblr-1780	134	34	the	the	DET
cblr-1780	134	35	flight	flight	NOUN
cblr-1780	134	36	of	of	ADP
cblr-1780	134	37	companies	company	NOUN
cblr-1780	134	38	from	from	ADP
cblr-1780	134	39	public	public	ADJ
cblr-1780	134	40	securities	security	NOUN
cblr-1780	134	41	markets	market	NOUN
cblr-1780	134	42	;	;	PUNCT
cblr-1780	134	43	(	(	PUNCT
cblr-1780	134	44	2	2	X
cblr-1780	134	45	)	)	PUNCT
cblr-1780	134	46	the	the	DET
cblr-1780	134	47	proponents	proponent	NOUN
cblr-1780	134	48	of	of	ADP
cblr-1780	134	49	the	the	DET
cblr-1780	134	50	proposed	propose	VERB
cblr-1780	134	51	rule	rule	NOUN
cblr-1780	134	52	conflate	conflate	VERB
cblr-1780	134	53	public	public	ADJ
cblr-1780	134	54	company	company	NOUN
cblr-1780	134	55	and	and	CCONJ
cblr-1780	134	56	private	private	ADJ
cblr-1780	134	57	company	company	NOUN
cblr-1780	134	58	political	political	ADJ
cblr-1780	134	59	spending	spending	NOUN
cblr-1780	134	60	;	;	PUNCT
cblr-1780	134	61	(	(	PUNCT
cblr-1780	134	62	3	3	X
cblr-1780	134	63	)	)	PUNCT
cblr-1780	134	64	political	political	ADJ
cblr-1780	134	65	spending	spending	NOUN
cblr-1780	134	66	is	be	AUX
cblr-1780	134	67	not	not	PART
cblr-1780	134	68	important	important	ADJ
cblr-1780	134	69	to	to	ADP
cblr-1780	134	70	most	most	ADJ
cblr-1780	134	71	investors	investor	NOUN
cblr-1780	134	72	;	;	PUNCT
cblr-1780	134	73	(	(	PUNCT
cblr-1780	134	74	4	4	X
cblr-1780	134	75	)	)	PUNCT
cblr-1780	134	76	political	political	ADJ
cblr-1780	134	77	spending	spending	NOUN
cblr-1780	134	78	is	be	AUX
cblr-1780	134	79	different	different	ADJ
cblr-1780	134	80	than	than	ADP
cblr-1780	134	81	executive	executive	ADJ
cblr-1780	134	82	compensation	compensation	NOUN
cblr-1780	134	83	,	,	PUNCT
cblr-1780	134	84	which	which	PRON
cblr-1780	134	85	is	be	AUX
cblr-1780	134	86	subject	subject	ADJ
cblr-1780	134	87	to	to	ADP
cblr-1780	134	88	disclosure	disclosure	NOUN
cblr-1780	134	89	obligations	obligation	NOUN
cblr-1780	134	90	;	;	PUNCT
cblr-1780	134	91	and	and	CCONJ
cblr-1780	134	92	(	(	PUNCT
cblr-1780	134	93	5	5	X
cblr-1780	134	94	)	)	PUNCT
cblr-1780	134	95	guttentag	guttentag	NOUN
cblr-1780	134	96	–	–	PUNCT
cblr-1780	134	97	final	final	ADJ
cblr-1780	134	98	no	no	NOUN
cblr-1780	134	99	.	.	PUNCT
cblr-1780	135	1	3:593	3:593	NUM
cblr-1780	135	2	]	]	PUNCT
cblr-1780	135	3	on	on	ADP
cblr-1780	135	4	political	political	ADJ
cblr-1780	135	5	spending	spending	NOUN
cblr-1780	135	6	disclosure	disclosure	NOUN
cblr-1780	135	7	603	603	NUM
cblr-1780	135	8	the	the	DET
cblr-1780	135	9	costs	cost	NOUN
cblr-1780	135	10	of	of	ADP
cblr-1780	135	11	implementing	implement	VERB
cblr-1780	135	12	the	the	DET
cblr-1780	135	13	proposed	propose	VERB
cblr-1780	135	14	rule	rule	NOUN
cblr-1780	135	15	are	be	AUX
cblr-1780	135	16	likely	likely	ADJ
cblr-1780	135	17	to	to	PART
cblr-1780	135	18	exceed	exceed	VERB
cblr-1780	135	19	the	the	DET
cblr-1780	135	20	“	"	PUNCT
cblr-1780	135	21	nonexistent	nonexistent	ADJ
cblr-1780	135	22	benefits	benefit	NOUN
cblr-1780	135	23	”	"	PUNCT
cblr-1780	135	24	)	)	PUNCT
cblr-1780	135	25	;	;	PUNCT
cblr-1780	135	26	letter	letter	NOUN
cblr-1780	135	27	from	from	ADP
cblr-1780	135	28	stephen	stephen	PROPN
cblr-1780	135	29	m.	m.	PROPN
cblr-1780	135	30	bainbridge	bainbridge	PROPN
cblr-1780	135	31	,	,	PUNCT
cblr-1780	135	32	william	william	PROPN
cblr-1780	135	33	d.	d.	PROPN
cblr-1780	135	34	warren	warren	PROPN
cblr-1780	135	35	distinguished	distinguish	VERB
cblr-1780	135	36	professor	professor	NOUN
cblr-1780	135	37	of	of	ADP
cblr-1780	135	38	law	law	NOUN
cblr-1780	135	39	,	,	PUNCT
cblr-1780	135	40	ucla	ucla	PROPN
cblr-1780	135	41	sch	sch	PROPN
cblr-1780	135	42	.	.	PROPN
cblr-1780	136	1	of	of	ADP
cblr-1780	136	2	law	law	NOUN
cblr-1780	136	3	,	,	PUNCT
cblr-1780	136	4	et	et	PROPN
cblr-1780	136	5	al	al	PROPN
cblr-1780	136	6	.	.	PROPN
cblr-1780	136	7	,	,	PUNCT
cblr-1780	136	8	to	to	ADP
cblr-1780	136	9	elizabeth	elizabeth	PROPN
cblr-1780	136	10	m.	m.	PROPN
cblr-1780	136	11	murphy	murphy	PROPN
cblr-1780	136	12	,	,	PUNCT
cblr-1780	136	13	sec’y	sec’y	NUM
cblr-1780	136	14	,	,	PUNCT
cblr-1780	136	15	u.s	u.s	PROPN
cblr-1780	136	16	.	.	PROPN
cblr-1780	136	17	sec	sec	PROPN
cblr-1780	136	18	.	.	PROPN
cblr-1780	136	19	&	&	CCONJ
cblr-1780	136	20	exch	exch	PROPN
cblr-1780	136	21	.	.	PUNCT
cblr-1780	136	22	comm’n	comm’n	PROPN
cblr-1780	137	1	(	(	PUNCT
cblr-1780	137	2	mar	mar	PROPN
cblr-1780	137	3	.	.	PROPN
cblr-1780	137	4	23	23	NUM
cblr-1780	137	5	,	,	PUNCT
cblr-1780	137	6	2012	2012	NUM
cblr-1780	137	7	)	)	PUNCT
cblr-1780	138	1	[	[	X
cblr-1780	138	2	hereinafter	hereinafter	NOUN
cblr-1780	138	3	bainbridge	bainbridge	PROPN
cblr-1780	138	4	letter	letter	PROPN
cblr-1780	138	5	]	]	PUNCT
cblr-1780	138	6	,	,	PUNCT
cblr-1780	138	7	available	available	ADJ
cblr-1780	138	8	at	at	ADP
cblr-1780	138	9	http://perma.cc/e3rr-4j4l	http://perma.cc/e3rr-4j4l	PROPN
cblr-1780	138	10	(	(	PUNCT
cblr-1780	138	11	noting	note	VERB
cblr-1780	138	12	shortcomings	shortcoming	NOUN
cblr-1780	138	13	in	in	ADP
cblr-1780	138	14	the	the	DET
cblr-1780	138	15	political	political	ADJ
cblr-1780	138	16	spending	spending	NOUN
cblr-1780	138	17	disclosure	disclosure	NOUN
cblr-1780	138	18	proposal	proposal	NOUN
cblr-1780	138	19	,	,	PUNCT
cblr-1780	138	20	including	include	VERB
cblr-1780	138	21	:	:	PUNCT
cblr-1780	138	22	(	(	PUNCT
cblr-1780	138	23	1	1	X
cblr-1780	138	24	)	)	PUNCT
cblr-1780	138	25	current	current	ADJ
cblr-1780	138	26	political	political	ADJ
cblr-1780	138	27	disclosure	disclosure	NOUN
cblr-1780	138	28	rules	rule	NOUN
cblr-1780	138	29	already	already	ADV
cblr-1780	138	30	require	require	VERB
cblr-1780	138	31	disclosure	disclosure	NOUN
cblr-1780	138	32	of	of	ADP
cblr-1780	138	33	much	much	ADJ
cblr-1780	138	34	political	political	ADJ
cblr-1780	138	35	spending	spending	NOUN
cblr-1780	138	36	by	by	ADP
cblr-1780	138	37	public	public	ADJ
cblr-1780	138	38	companies	company	NOUN
cblr-1780	138	39	;	;	PUNCT
cblr-1780	138	40	(	(	PUNCT
cblr-1780	138	41	2	2	X
cblr-1780	138	42	)	)	PUNCT
cblr-1780	138	43	the	the	DET
cblr-1780	138	44	proposed	propose	VERB
cblr-1780	138	45	rule	rule	NOUN
cblr-1780	138	46	might	might	AUX
cblr-1780	138	47	lead	lead	VERB
cblr-1780	138	48	to	to	ADP
cblr-1780	138	49	“	"	PUNCT
cblr-1780	138	50	over	over	ADP
cblr-1780	138	51	-	-	PUNCT
cblr-1780	138	52	reporting	reporting	NOUN
cblr-1780	138	53	[	[	X
cblr-1780	138	54	that	that	PRON
cblr-1780	138	55	]	]	PUNCT
cblr-1780	138	56	would	would	AUX
cblr-1780	138	57	be	be	AUX
cblr-1780	138	58	confusing	confusing	ADJ
cblr-1780	138	59	and	and	CCONJ
cblr-1780	138	60	misleading	misleading	ADJ
cblr-1780	138	61	to	to	ADP
cblr-1780	138	62	shareholders	shareholder	NOUN
cblr-1780	138	63	;	;	PUNCT
cblr-1780	138	64	”	"	PUNCT
cblr-1780	138	65	(	(	PUNCT
cblr-1780	138	66	3	3	X
cblr-1780	138	67	)	)	PUNCT
cblr-1780	138	68	shareholders	shareholder	NOUN
cblr-1780	138	69	have	have	AUX
cblr-1780	138	70	consistently	consistently	ADV
cblr-1780	138	71	rejected	reject	VERB
cblr-1780	138	72	proposals	proposal	NOUN
cblr-1780	138	73	for	for	ADP
cblr-1780	138	74	more	more	ADJ
cblr-1780	138	75	political	political	ADJ
cblr-1780	138	76	spending	spending	NOUN
cblr-1780	138	77	disclosure	disclosure	NOUN
cblr-1780	138	78	by	by	ADP
cblr-1780	138	79	public	public	ADJ
cblr-1780	138	80	companies	company	NOUN
cblr-1780	138	81	;	;	PUNCT
cblr-1780	138	82	(	(	PUNCT
cblr-1780	138	83	4	4	X
cblr-1780	138	84	)	)	PUNCT
cblr-1780	138	85	the	the	DET
cblr-1780	138	86	proposed	propose	VERB
cblr-1780	138	87	rule	rule	NOUN
cblr-1780	138	88	would	would	AUX
cblr-1780	138	89	chill	chill	VERB
cblr-1780	138	90	political	political	ADJ
cblr-1780	138	91	speech	speech	NOUN
cblr-1780	138	92	by	by	ADP
cblr-1780	138	93	public	public	ADJ
cblr-1780	138	94	firms	firm	NOUN
cblr-1780	138	95	;	;	PUNCT
cblr-1780	138	96	and	and	CCONJ
cblr-1780	138	97	(	(	PUNCT
cblr-1780	138	98	5	5	X
cblr-1780	138	99	)	)	PUNCT
cblr-1780	138	100	the	the	DET
cblr-1780	138	101	proposed	propose	VERB
cblr-1780	138	102	rule	rule	NOUN
cblr-1780	138	103	would	would	AUX
cblr-1780	138	104	unnecessarily	unnecessarily	ADV
cblr-1780	138	105	draw	draw	VERB
cblr-1780	138	106	the	the	DET
cblr-1780	138	107	sec	sec	PROPN
cblr-1780	138	108	into	into	ADP
cblr-1780	138	109	a	a	DET
cblr-1780	138	110	political	political	ADJ
cblr-1780	138	111	debate	debate	NOUN
cblr-1780	138	112	)	)	PUNCT
cblr-1780	138	113	;	;	PUNCT
cblr-1780	138	114	letter	letter	NOUN
cblr-1780	138	115	from	from	ADP
cblr-1780	138	116	keith	keith	PROPN
cblr-1780	138	117	paul	paul	PROPN
cblr-1780	138	118	bishop	bishop	PROPN
cblr-1780	138	119	,	,	PUNCT
cblr-1780	138	120	adjunct	adjunct	ADJ
cblr-1780	138	121	professor	professor	NOUN
cblr-1780	138	122	of	of	ADP
cblr-1780	138	123	law	law	NOUN
cblr-1780	138	124	,	,	PUNCT
cblr-1780	138	125	chapman	chapman	PROPN
cblr-1780	138	126	univ	univ	PROPN
cblr-1780	138	127	.	.	PUNCT
cblr-1780	139	1	law	law	PROPN
cblr-1780	139	2	sch	sch	PROPN
cblr-1780	139	3	.	.	PROPN
cblr-1780	139	4	,	,	PUNCT
cblr-1780	139	5	to	to	ADP
cblr-1780	139	6	elizabeth	elizabeth	PROPN
cblr-1780	139	7	m.	m.	PROPN
cblr-1780	139	8	murphy	murphy	PROPN
cblr-1780	139	9	,	,	PUNCT
cblr-1780	139	10	sec’y	sec’y	NUM
cblr-1780	139	11	,	,	PUNCT
cblr-1780	139	12	u.s	u.s	PROPN
cblr-1780	139	13	.	.	PROPN
cblr-1780	139	14	sec	sec	PROPN
cblr-1780	139	15	.	.	PROPN
cblr-1780	139	16	&	&	CCONJ
cblr-1780	139	17	exch	exch	PROPN
cblr-1780	139	18	.	.	PUNCT
cblr-1780	140	1	comm’n	comm’n	PROPN
cblr-1780	140	2	(	(	PUNCT
cblr-1780	140	3	aug	aug	PROPN
cblr-1780	140	4	.	.	PROPN
cblr-1780	140	5	6	6	NUM
cblr-1780	140	6	,	,	PUNCT
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cblr-1780	140	9	,	,	PUNCT
cblr-1780	140	10	available	available	ADJ
cblr-1780	140	11	at	at	ADP
cblr-1780	140	12	http://perma.cc/66yz-4r47	http://perma.cc/66yz-4r47	PROPN
cblr-1780	140	13	(	(	PUNCT
cblr-1780	140	14	arguing	argue	VERB
cblr-1780	140	15	that	that	SCONJ
cblr-1780	140	16	disclosure	disclosure	NOUN
cblr-1780	140	17	requirements	requirement	NOUN
cblr-1780	140	18	would	would	AUX
cblr-1780	140	19	unnecessarily	unnecessarily	ADV
cblr-1780	140	20	burden	burden	VERB
cblr-1780	140	21	reporting	report	VERB
cblr-1780	140	22	companies	company	NOUN
cblr-1780	140	23	)	)	PUNCT
cblr-1780	140	24	;	;	PUNCT
cblr-1780	140	25	letter	letter	NOUN
cblr-1780	140	26	from	from	ADP
cblr-1780	140	27	60	60	NUM
cblr-1780	140	28	plus	plus	CCONJ
cblr-1780	140	29	ass’n	ass’n	NUM
cblr-1780	140	30	,	,	PUNCT
cblr-1780	140	31	et	et	PROPN
cblr-1780	140	32	al	al	PROPN
cblr-1780	140	33	.	.	PROPN
cblr-1780	140	34	,	,	PUNCT
cblr-1780	140	35	to	to	ADP
cblr-1780	140	36	elizabeth	elizabeth	PROPN
cblr-1780	140	37	m.	m.	PROPN
cblr-1780	140	38	murphy	murphy	PROPN
cblr-1780	140	39	,	,	PUNCT
cblr-1780	140	40	sec’y	sec’y	NUM
cblr-1780	140	41	,	,	PUNCT
cblr-1780	140	42	u.s	u.s	PROPN
cblr-1780	140	43	.	.	PROPN
cblr-1780	140	44	sec	sec	PROPN
cblr-1780	140	45	.	.	PROPN
cblr-1780	140	46	&	&	CCONJ
cblr-1780	140	47	exch	exch	PROPN
cblr-1780	140	48	.	.	PUNCT
cblr-1780	141	1	comm’n	comm’n	PROPN
cblr-1780	141	2	(	(	PUNCT
cblr-1780	141	3	jan	jan	PROPN
cblr-1780	141	4	.	.	PROPN
cblr-1780	141	5	4	4	NUM
cblr-1780	141	6	,	,	PUNCT
cblr-1780	141	7	2013	2013	NUM
cblr-1780	141	8	)	)	PUNCT
cblr-1780	142	1	[	[	X
cblr-1780	142	2	hereinafter	hereinafter	NOUN
cblr-1780	142	3	60	60	NUM
cblr-1780	142	4	plus	plus	CCONJ
cblr-1780	142	5	association	association	NOUN
cblr-1780	142	6	letter	letter	NOUN
cblr-1780	142	7	]	]	PUNCT
cblr-1780	142	8	,	,	PUNCT
cblr-1780	142	9	available	available	ADJ
cblr-1780	142	10	at	at	ADP
cblr-1780	142	11	http://perma.cc/6bl2-jx7r	http://perma.cc/6bl2-jx7r	PROPN
cblr-1780	142	12	(	(	PUNCT
cblr-1780	142	13	arguing	argue	VERB
cblr-1780	142	14	that	that	SCONJ
cblr-1780	142	15	the	the	DET
cblr-1780	142	16	sec	sec	PROPN
cblr-1780	142	17	can	can	AUX
cblr-1780	142	18	not	not	PART
cblr-1780	142	19	legally	legally	ADV
cblr-1780	142	20	adopt	adopt	VERB
cblr-1780	142	21	the	the	DET
cblr-1780	142	22	proposals	proposal	NOUN
cblr-1780	142	23	in	in	ADP
cblr-1780	142	24	the	the	DET
cblr-1780	142	25	petition	petition	NOUN
cblr-1780	142	26	because	because	SCONJ
cblr-1780	142	27	they	they	PRON
cblr-1780	142	28	exceed	exceed	VERB
cblr-1780	142	29	the	the	DET
cblr-1780	142	30	sec	sec	PROPN
cblr-1780	142	31	’s	’s	PART
cblr-1780	142	32	authority	authority	NOUN
cblr-1780	142	33	and	and	CCONJ
cblr-1780	142	34	violate	violate	VERB
cblr-1780	142	35	the	the	DET
cblr-1780	142	36	first	first	ADJ
cblr-1780	142	37	amendment	amendment	NOUN
cblr-1780	142	38	)	)	PUNCT
cblr-1780	142	39	.	.	PUNCT
cblr-1780	143	1	the	the	DET
cblr-1780	143	2	60	60	NUM
cblr-1780	143	3	plus	plus	CCONJ
cblr-1780	143	4	association	association	NOUN
cblr-1780	143	5	letter	letter	NOUN
cblr-1780	143	6	was	be	AUX
cblr-1780	143	7	filed	file	VERB
cblr-1780	143	8	on	on	ADP
cblr-1780	143	9	behalf	behalf	NOUN
cblr-1780	143	10	of	of	ADP
cblr-1780	143	11	the	the	DET
cblr-1780	143	12	u.s	u.s	PROPN
cblr-1780	143	13	.	.	PROPN
cblr-1780	143	14	chamber	chamber	PROPN
cblr-1780	143	15	of	of	ADP
cblr-1780	143	16	commerce	commerce	PROPN
cblr-1780	143	17	and	and	CCONJ
cblr-1780	143	18	twentyeight	twentyeight	VERB
cblr-1780	143	19	other	other	ADJ
cblr-1780	143	20	similar	similar	ADJ
cblr-1780	143	21	organizations	organization	NOUN
cblr-1780	143	22	.	.	PUNCT
cblr-1780	144	1	finally	finally	ADV
cblr-1780	144	2	,	,	PUNCT
cblr-1780	144	3	following	follow	VERB
cblr-1780	144	4	the	the	DET
cblr-1780	144	5	publication	publication	NOUN
cblr-1780	144	6	of	of	ADP
cblr-1780	144	7	shining	shine	VERB
cblr-1780	144	8	light	light	NOUN
cblr-1780	144	9	,	,	PUNCT
cblr-1780	144	10	a	a	DET
cblr-1780	144	11	symposium	symposium	NOUN
cblr-1780	144	12	issue	issue	NOUN
cblr-1780	144	13	of	of	ADP
cblr-1780	144	14	the	the	DET
cblr-1780	144	15	harvard	harvard	PROPN
cblr-1780	144	16	business	business	PROPN
cblr-1780	144	17	law	law	PROPN
cblr-1780	144	18	review	review	NOUN
cblr-1780	144	19	published	publish	VERB
cblr-1780	144	20	several	several	ADJ
cblr-1780	144	21	additional	additional	ADJ
cblr-1780	144	22	critiques	critique	NOUN
cblr-1780	144	23	of	of	ADP
cblr-1780	144	24	a	a	DET
cblr-1780	144	25	political	political	ADJ
cblr-1780	144	26	spending	spending	NOUN
cblr-1780	144	27	mandatory	mandatory	ADJ
cblr-1780	144	28	disclosure	disclosure	NOUN
cblr-1780	144	29	requirement	requirement	NOUN
cblr-1780	144	30	,	,	PUNCT
cblr-1780	144	31	including	include	VERB
cblr-1780	144	32	:	:	PUNCT
cblr-1780	144	33	paul	paul	PROPN
cblr-1780	144	34	atkins	atkins	PROPN
cblr-1780	144	35	,	,	PUNCT
cblr-1780	144	36	materiality	materiality	NOUN
cblr-1780	144	37	:	:	PUNCT
cblr-1780	144	38	a	a	DET
cblr-1780	144	39	bedrock	bedrock	NOUN
cblr-1780	144	40	principle	principle	NOUN
cblr-1780	144	41	protecting	protect	VERB
cblr-1780	144	42	legitimate	legitimate	ADJ
cblr-1780	144	43	shareholder	shareholder	NOUN
cblr-1780	144	44	interests	interest	NOUN
cblr-1780	144	45	against	against	ADP
cblr-1780	144	46	disguised	disguised	ADJ
cblr-1780	144	47	political	political	ADJ
cblr-1780	144	48	agendas	agenda	NOUN
cblr-1780	144	49	,	,	PUNCT
cblr-1780	144	50	3	3	NUM
cblr-1780	144	51	harv	harv	NOUN
cblr-1780	144	52	.	.	PUNCT
cblr-1780	145	1	bus	bus	NOUN
cblr-1780	145	2	.	.	PUNCT
cblr-1780	146	1	l.	l.	PROPN
cblr-1780	146	2	rev	rev	PROPN
cblr-1780	146	3	.	.	PROPN
cblr-1780	146	4	363	363	NUM
cblr-1780	146	5	(	(	PUNCT
cblr-1780	146	6	2013	2013	NUM
cblr-1780	146	7	)	)	PUNCT
cblr-1780	146	8	;	;	PUNCT
cblr-1780	146	9	james	james	PROPN
cblr-1780	146	10	r.	r.	PROPN
cblr-1780	146	11	copland	copland	PROPN
cblr-1780	146	12	,	,	PUNCT
cblr-1780	146	13	against	against	ADP
cblr-1780	146	14	an	an	DET
cblr-1780	146	15	secmandated	secmandate	VERB
cblr-1780	146	16	rule	rule	NOUN
cblr-1780	146	17	on	on	ADP
cblr-1780	146	18	political	political	ADJ
cblr-1780	146	19	spending	spending	NOUN
cblr-1780	146	20	disclosure	disclosure	NOUN
cblr-1780	146	21	:	:	PUNCT
cblr-1780	146	22	a	a	DET
cblr-1780	146	23	reply	reply	NOUN
cblr-1780	146	24	to	to	ADP
cblr-1780	146	25	bebchuk	bebchuk	NOUN
cblr-1780	146	26	and	and	CCONJ
cblr-1780	146	27	jackson	jackson	PROPN
cblr-1780	146	28	,	,	PUNCT
cblr-1780	146	29	3	3	NUM
cblr-1780	146	30	harv	harv	NOUN
cblr-1780	146	31	.	.	PUNCT
cblr-1780	147	1	bus	bus	NOUN
cblr-1780	147	2	.	.	PUNCT
cblr-1780	148	1	l.	l.	PROPN
cblr-1780	148	2	rev	rev	PROPN
cblr-1780	148	3	.	.	PROPN
cblr-1780	148	4	381	381	NUM
cblr-1780	148	5	(	(	PUNCT
cblr-1780	148	6	2013	2013	NUM
cblr-1780	148	7	)	)	PUNCT
cblr-1780	148	8	;	;	PUNCT
cblr-1780	148	9	matthew	matthew	PROPN
cblr-1780	148	10	lepore	lepore	PROPN
cblr-1780	148	11	,	,	PUNCT
cblr-1780	148	12	a	a	DET
cblr-1780	148	13	case	case	NOUN
cblr-1780	148	14	for	for	ADP
cblr-1780	148	15	the	the	DET
cblr-1780	148	16	status	status	NOUN
cblr-1780	148	17	quo	quo	NOUN
cblr-1780	148	18	:	:	PUNCT
cblr-1780	148	19	voluntary	voluntary	ADJ
cblr-1780	148	20	disclosure	disclosure	NOUN
cblr-1780	148	21	,	,	PUNCT
cblr-1780	148	22	3	3	NUM
cblr-1780	148	23	harv	harv	NOUN
cblr-1780	148	24	.	.	PUNCT
cblr-1780	149	1	bus	bus	NOUN
cblr-1780	149	2	.	.	PUNCT
cblr-1780	150	1	l.	l.	PROPN
cblr-1780	150	2	rev	rev	PROPN
cblr-1780	150	3	.	.	PROPN
cblr-1780	151	1	413	413	NUM
cblr-1780	151	2	(	(	PUNCT
cblr-1780	151	3	2013	2013	NUM
cblr-1780	151	4	)	)	PUNCT
cblr-1780	151	5	;	;	PUNCT
cblr-1780	151	6	smith	smith	PROPN
cblr-1780	151	7	&	&	CCONJ
cblr-1780	151	8	dickerson	dickerson	PROPN
cblr-1780	151	9	,	,	PUNCT
cblr-1780	151	10	supra	supra	PROPN
cblr-1780	151	11	note	note	PROPN
cblr-1780	151	12	21	21	NUM
cblr-1780	151	13	;	;	PUNCT
cblr-1780	151	14	and	and	CCONJ
cblr-1780	151	15	j.w	j.w	PROPN
cblr-1780	151	16	.	.	PROPN
cblr-1780	151	17	verret	verret	PROPN
cblr-1780	151	18	,	,	PUNCT
cblr-1780	151	19	the	the	DET
cblr-1780	151	20	securities	security	NOUN
cblr-1780	151	21	exchange	exchange	PROPN
cblr-1780	151	22	act	act	NOUN
cblr-1780	151	23	is	be	AUX
cblr-1780	151	24	a	a	DET
cblr-1780	151	25	material	material	ADJ
cblr-1780	151	26	girl	girl	NOUN
cblr-1780	151	27	,	,	PUNCT
cblr-1780	151	28	living	live	VERB
cblr-1780	151	29	in	in	ADP
cblr-1780	151	30	a	a	DET
cblr-1780	151	31	material	material	NOUN
cblr-1780	151	32	world	world	NOUN
cblr-1780	151	33	:	:	PUNCT
cblr-1780	151	34	a	a	DET
cblr-1780	151	35	response	response	NOUN
cblr-1780	151	36	to	to	ADP
cblr-1780	151	37	bebchuk	bebchuk	PROPN
cblr-1780	151	38	and	and	CCONJ
cblr-1780	151	39	jackson	jackson	PROPN
cblr-1780	151	40	’s	’s	PART
cblr-1780	151	41	“	"	PUNCT
cblr-1780	151	42	shining	shine	VERB
cblr-1780	151	43	light	light	NOUN
cblr-1780	151	44	on	on	ADP
cblr-1780	151	45	corporate	corporate	ADJ
cblr-1780	151	46	political	political	ADJ
cblr-1780	151	47	spending	spending	NOUN
cblr-1780	151	48	,	,	PUNCT
cblr-1780	151	49	”	"	PUNCT
cblr-1780	151	50	3	3	NUM
cblr-1780	151	51	harv	harv	NOUN
cblr-1780	151	52	.	.	PUNCT
cblr-1780	152	1	bus	bus	NOUN
cblr-1780	152	2	.	.	PUNCT
cblr-1780	153	1	l.	l.	PROPN
cblr-1780	153	2	rev	rev	PROPN
cblr-1780	153	3	.	.	PROPN
cblr-1780	154	1	453	453	NUM
cblr-1780	154	2	(	(	PUNCT
cblr-1780	154	3	2013	2013	NUM
cblr-1780	154	4	)	)	PUNCT
cblr-1780	154	5	.	.	PUNCT
cblr-1780	155	1	opponents	opponent	NOUN
cblr-1780	155	2	of	of	ADP
cblr-1780	155	3	the	the	DET
cblr-1780	155	4	bebchuk	bebchuk	NOUN
cblr-1780	155	5	petition	petition	NOUN
cblr-1780	155	6	have	have	AUX
cblr-1780	155	7	argued	argue	VERB
cblr-1780	155	8	,	,	PUNCT
cblr-1780	155	9	among	among	ADP
cblr-1780	155	10	other	other	ADJ
cblr-1780	155	11	things	thing	NOUN
cblr-1780	155	12	:	:	PUNCT
cblr-1780	155	13	(	(	PUNCT
cblr-1780	155	14	1	1	X
cblr-1780	155	15	)	)	PUNCT
cblr-1780	155	16	that	that	SCONJ
cblr-1780	155	17	such	such	DET
cblr-1780	155	18	a	a	DET
cblr-1780	155	19	requirement	requirement	NOUN
cblr-1780	155	20	is	be	AUX
cblr-1780	155	21	superfluous	superfluous	ADJ
cblr-1780	155	22	given	give	VERB
cblr-1780	155	23	existing	exist	VERB
cblr-1780	155	24	public	public	ADJ
cblr-1780	155	25	company	company	NOUN
cblr-1780	155	26	disclosure	disclosure	NOUN
cblr-1780	155	27	obligations	obligation	NOUN
cblr-1780	155	28	(	(	PUNCT
cblr-1780	155	29	see	see	VERB
cblr-1780	155	30	,	,	PUNCT
cblr-1780	155	31	e.g.	e.g.	ADV
cblr-1780	155	32	,	,	PUNCT
cblr-1780	155	33	atkins	atkin	NOUN
cblr-1780	155	34	,	,	PUNCT
cblr-1780	155	35	supra	supra	NOUN
cblr-1780	155	36	,	,	PUNCT
cblr-1780	155	37	at	at	ADP
cblr-1780	155	38	367	367	NUM
cblr-1780	155	39	;	;	PUNCT
cblr-1780	155	40	verret	verret	PROPN
cblr-1780	155	41	,	,	PUNCT
cblr-1780	155	42	supra	supra	PROPN
cblr-1780	155	43	,	,	PUNCT
cblr-1780	155	44	at	at	ADP
cblr-1780	155	45	464–65	464–65	NUM
cblr-1780	155	46	)	)	PUNCT
cblr-1780	155	47	;	;	PUNCT
cblr-1780	155	48	(	(	PUNCT
cblr-1780	155	49	2	2	X
cblr-1780	155	50	)	)	PUNCT
cblr-1780	155	51	that	that	SCONJ
cblr-1780	155	52	such	such	DET
cblr-1780	155	53	a	a	DET
cblr-1780	155	54	requirement	requirement	NOUN
cblr-1780	155	55	is	be	AUX
cblr-1780	155	56	more	more	ADV
cblr-1780	155	57	likely	likely	ADJ
cblr-1780	155	58	to	to	PART
cblr-1780	155	59	harm	harm	VERB
cblr-1780	155	60	than	than	SCONJ
cblr-1780	155	61	benefit	benefit	VERB
cblr-1780	155	62	public	public	ADJ
cblr-1780	155	63	company	company	NOUN
cblr-1780	155	64	shareholders	shareholder	NOUN
cblr-1780	155	65	(	(	PUNCT
cblr-1780	155	66	see	see	VERB
cblr-1780	155	67	,	,	PUNCT
cblr-1780	155	68	e.g.	e.g.	ADV
cblr-1780	155	69	,	,	PUNCT
cblr-1780	155	70	copland	copland	PROPN
cblr-1780	155	71	,	,	PUNCT
cblr-1780	155	72	supra	supra	PROPN
cblr-1780	155	73	,	,	PUNCT
cblr-1780	155	74	at	at	ADP
cblr-1780	155	75	384	384	NUM
cblr-1780	155	76	)	)	PUNCT
cblr-1780	155	77	;	;	PUNCT
cblr-1780	155	78	and	and	CCONJ
cblr-1780	155	79	(	(	PUNCT
cblr-1780	155	80	3	3	X
cblr-1780	155	81	)	)	PUNCT
cblr-1780	155	82	that	that	SCONJ
cblr-1780	155	83	public	public	ADJ
cblr-1780	155	84	company	company	NOUN
cblr-1780	155	85	political	political	ADJ
cblr-1780	155	86	spending	spending	NOUN
cblr-1780	155	87	disclosure	disclosure	NOUN
cblr-1780	155	88	is	be	AUX
cblr-1780	155	89	not	not	PART
cblr-1780	155	90	an	an	DET
cblr-1780	155	91	appropriate	appropriate	ADJ
cblr-1780	155	92	topic	topic	NOUN
cblr-1780	155	93	for	for	ADP
cblr-1780	155	94	sec	sec	PROPN
cblr-1780	155	95	consideration	consideration	NOUN
cblr-1780	155	96	(	(	PUNCT
cblr-1780	155	97	see	see	VERB
cblr-1780	155	98	,	,	PUNCT
cblr-1780	155	99	e.g.	e.g.	ADV
cblr-1780	155	100	,	,	PUNCT
cblr-1780	155	101	smith	smith	PROPN
cblr-1780	155	102	&	&	CCONJ
cblr-1780	155	103	dickerson	dickerson	PROPN
cblr-1780	155	104	,	,	PUNCT
cblr-1780	155	105	supra	supra	PROPN
cblr-1780	155	106	,	,	PUNCT
cblr-1780	155	107	at	at	ADP
cblr-1780	155	108	422	422	NUM
cblr-1780	155	109	)	)	PUNCT
cblr-1780	155	110	.	.	PUNCT
cblr-1780	156	1	but	but	CCONJ
cblr-1780	156	2	these	these	DET
cblr-1780	156	3	three	three	NUM
cblr-1780	156	4	critiques	critique	NOUN
cblr-1780	156	5	do	do	AUX
cblr-1780	156	6	not	not	PART
cblr-1780	156	7	convincingly	convincingly	ADV
cblr-1780	156	8	address	address	VERB
cblr-1780	156	9	evidence	evidence	NOUN
cblr-1780	156	10	suggesting	suggest	VERB
cblr-1780	156	11	a	a	DET
cblr-1780	156	12	reasonable	reasonable	ADJ
cblr-1780	156	13	investor	investor	NOUN
cblr-1780	156	14	would	would	AUX
cblr-1780	156	15	be	be	AUX
cblr-1780	156	16	interested	interested	ADJ
cblr-1780	156	17	in	in	ADP
cblr-1780	156	18	political	political	ADJ
cblr-1780	156	19	guttentag	guttentag	NOUN
cblr-1780	156	20	–	–	PUNCT
cblr-1780	157	1	final	final	ADJ
cblr-1780	157	2	604	604	NUM
cblr-1780	157	3	columbia	columbia	PROPN
cblr-1780	157	4	business	business	NOUN
cblr-1780	157	5	law	law	NOUN
cblr-1780	157	6	review	review	NOUN
cblr-1780	157	7	[	[	X
cblr-1780	157	8	vol	vol	NOUN
cblr-1780	157	9	.	.	PUNCT
cblr-1780	157	10	2014	2014	NUM
cblr-1780	157	11	jackson	jackson	PROPN
cblr-1780	157	12	offer	offer	VERB
cblr-1780	157	13	a	a	DET
cblr-1780	157	14	coherent	coherent	ADJ
cblr-1780	157	15	and	and	CCONJ
cblr-1780	157	16	sustained	sustain	VERB
cblr-1780	157	17	analysis	analysis	NOUN
cblr-1780	157	18	of	of	ADP
cblr-1780	157	19	arguments	argument	NOUN
cblr-1780	157	20	for	for	ADP
cblr-1780	157	21	requiring	require	VERB
cblr-1780	157	22	the	the	DET
cblr-1780	157	23	disclosure	disclosure	NOUN
cblr-1780	157	24	of	of	ADP
cblr-1780	157	25	political	political	ADJ
cblr-1780	157	26	spending	spending	NOUN
cblr-1780	157	27	by	by	ADP
cblr-1780	157	28	public	public	ADJ
cblr-1780	157	29	companies	company	NOUN
cblr-1780	157	30	.	.	PUNCT
cblr-1780	158	1	second	second	ADJ
cblr-1780	158	2	,	,	PUNCT
cblr-1780	158	3	bebchuk	bebchuk	PROPN
cblr-1780	158	4	and	and	CCONJ
cblr-1780	158	5	jackson	jackson	PROPN
cblr-1780	158	6	consider	consider	VERB
cblr-1780	158	7	in	in	ADP
cblr-1780	158	8	detail	detail	NOUN
cblr-1780	158	9	several	several	ADJ
cblr-1780	158	10	objections	objection	NOUN
cblr-1780	158	11	to	to	ADP
cblr-1780	158	12	a	a	DET
cblr-1780	158	13	mandatory	mandatory	ADJ
cblr-1780	158	14	political	political	ADJ
cblr-1780	158	15	spending	spending	NOUN
cblr-1780	158	16	disclosure	disclosure	NOUN
cblr-1780	158	17	requirement.29	requirement.29	NOUN
cblr-1780	158	18	third	third	ADJ
cblr-1780	158	19	,	,	PUNCT
cblr-1780	158	20	much	much	ADJ
cblr-1780	158	21	of	of	ADP
cblr-1780	158	22	the	the	DET
cblr-1780	158	23	bebchuk	bebchuk	NOUN
cblr-1780	158	24	and	and	CCONJ
cblr-1780	158	25	jackson	jackson	PROPN
cblr-1780	158	26	argument	argument	PROPN
cblr-1780	158	27	for	for	ADP
cblr-1780	158	28	requiring	require	VERB
cblr-1780	158	29	public	public	ADJ
cblr-1780	158	30	companies	company	NOUN
cblr-1780	158	31	to	to	PART
cblr-1780	158	32	disclose	disclose	VERB
cblr-1780	158	33	political	political	ADJ
cblr-1780	158	34	spending	spending	NOUN
cblr-1780	158	35	is	be	AUX
cblr-1780	158	36	grounded	ground	VERB
cblr-1780	158	37	in	in	ADP
cblr-1780	158	38	the	the	DET
cblr-1780	158	39	economic	economic	ADJ
cblr-1780	158	40	analysis	analysis	NOUN
cblr-1780	158	41	of	of	ADP
cblr-1780	158	42	disclosure	disclosure	NOUN
cblr-1780	158	43	regulation	regulation	NOUN
cblr-1780	158	44	.	.	PUNCT
cblr-1780	159	1	their	their	PRON
cblr-1780	159	2	approach	approach	NOUN
cblr-1780	159	3	,	,	PUNCT
cblr-1780	159	4	therefore	therefore	ADV
cblr-1780	159	5	,	,	PUNCT
cblr-1780	159	6	provides	provide	VERB
cblr-1780	159	7	a	a	DET
cblr-1780	159	8	welcome	welcome	ADJ
cblr-1780	159	9	opportunity	opportunity	NOUN
cblr-1780	159	10	to	to	PART
cblr-1780	159	11	situate	situate	VERB
cblr-1780	159	12	a	a	DET
cblr-1780	159	13	rule	rule	NOUN
cblr-1780	159	14	that	that	PRON
cblr-1780	159	15	would	would	AUX
cblr-1780	159	16	force	force	VERB
cblr-1780	159	17	public	public	ADJ
cblr-1780	159	18	companies	company	NOUN
cblr-1780	159	19	to	to	PART
cblr-1780	159	20	disclose	disclose	VERB
cblr-1780	159	21	political	political	ADJ
cblr-1780	159	22	spending	spending	NOUN
cblr-1780	159	23	within	within	ADP
cblr-1780	159	24	the	the	DET
cblr-1780	159	25	broader	broad	ADJ
cblr-1780	159	26	context	context	NOUN
cblr-1780	159	27	of	of	ADP
cblr-1780	159	28	scholarship	scholarship	NOUN
cblr-1780	159	29	on	on	ADP
cblr-1780	159	30	the	the	DET
cblr-1780	159	31	economics	economic	NOUN
cblr-1780	159	32	of	of	ADP
cblr-1780	159	33	mandatory	mandatory	ADJ
cblr-1780	159	34	disclosure	disclosure	NOUN
cblr-1780	159	35	regulation.30	regulation.30	PROPN
cblr-1780	159	36	finally	finally	ADV
cblr-1780	159	37	,	,	PUNCT
cblr-1780	159	38	the	the	DET
cblr-1780	159	39	work	work	NOUN
cblr-1780	159	40	of	of	ADP
cblr-1780	159	41	bebchuk	bebchuk	NOUN
cblr-1780	159	42	and	and	CCONJ
cblr-1780	159	43	jackson	jackson	PROPN
cblr-1780	159	44	on	on	ADP
cblr-1780	159	45	this	this	DET
cblr-1780	159	46	topic	topic	NOUN
cblr-1780	159	47	is	be	AUX
cblr-1780	159	48	central	central	ADJ
cblr-1780	159	49	to	to	ADP
cblr-1780	159	50	efforts	effort	NOUN
cblr-1780	159	51	to	to	PART
cblr-1780	159	52	bring	bring	VERB
cblr-1780	159	53	this	this	DET
cblr-1780	159	54	issue	issue	NOUN
cblr-1780	159	55	to	to	ADP
cblr-1780	159	56	public	public	ADJ
cblr-1780	159	57	attention	attention	NOUN
cblr-1780	159	58	.	.	PUNCT
cblr-1780	160	1	bebchuk	bebchuk	PROPN
cblr-1780	160	2	and	and	CCONJ
cblr-1780	160	3	jackson	jackson	PROPN
cblr-1780	160	4	,	,	PUNCT
cblr-1780	160	5	for	for	ADP
cblr-1780	160	6	example	example	NOUN
cblr-1780	160	7	,	,	PUNCT
cblr-1780	160	8	were	be	AUX
cblr-1780	160	9	not	not	PART
cblr-1780	160	10	only	only	ADV
cblr-1780	160	11	the	the	DET
cblr-1780	160	12	principal	principal	ADJ
cblr-1780	160	13	draftsmen	draftsman	NOUN
cblr-1780	160	14	,	,	PUNCT
cblr-1780	160	15	but	but	CCONJ
cblr-1780	160	16	also	also	ADV
cblr-1780	160	17	the	the	DET
cblr-1780	160	18	co	co	NOUN
cblr-1780	160	19	-	-	NOUN
cblr-1780	160	20	chairmen	chairman	NOUN
cblr-1780	160	21	of	of	ADP
cblr-1780	160	22	the	the	DET
cblr-1780	160	23	committee	committee	NOUN
cblr-1780	160	24	that	that	PRON
cblr-1780	160	25	submitted	submit	VERB
cblr-1780	160	26	the	the	DET
cblr-1780	160	27	bebchuk	bebchuk	NOUN
cblr-1780	160	28	petition	petition	NOUN
cblr-1780	160	29	to	to	ADP
cblr-1780	160	30	the	the	DET
cblr-1780	160	31	sec.31	sec.31	X
cblr-1780	160	32	i	i	PRON
cblr-1780	160	33	rely	rely	VERB
cblr-1780	160	34	,	,	PUNCT
cblr-1780	160	35	in	in	ADP
cblr-1780	160	36	turn	turn	NOUN
cblr-1780	160	37	,	,	PUNCT
cblr-1780	160	38	on	on	ADP
cblr-1780	160	39	three	three	NUM
cblr-1780	160	40	sources	source	NOUN
cblr-1780	160	41	to	to	PART
cblr-1780	160	42	reconstruct	reconstruct	VERB
cblr-1780	160	43	the	the	DET
cblr-1780	160	44	bebchuk	bebchuk	NOUN
cblr-1780	160	45	and	and	CCONJ
cblr-1780	160	46	jackson	jackson	PROPN
cblr-1780	160	47	arguments	argument	NOUN
cblr-1780	160	48	for	for	ADP
cblr-1780	160	49	requiring	require	VERB
cblr-1780	160	50	public	public	ADJ
cblr-1780	160	51	companies	company	NOUN
cblr-1780	160	52	to	to	PART
cblr-1780	160	53	disclose	disclose	VERB
cblr-1780	160	54	political	political	ADJ
cblr-1780	160	55	spending.32	spending.32	NOUN
cblr-1780	160	56	the	the	DET
cblr-1780	160	57	first	first	ADJ
cblr-1780	160	58	source	source	NOUN
cblr-1780	160	59	is	be	AUX
cblr-1780	160	60	the	the	PRON
cblr-1780	160	61	who	who	PRON
cblr-1780	160	62	decides	decide	VERB
cblr-1780	160	63	comment.33	comment.33	NOUN
cblr-1780	160	64	who	who	PRON
cblr-1780	160	65	decides	decide	VERB
cblr-1780	160	66	primarily	primarily	ADV
cblr-1780	160	67	highlights	highlight	VERB
cblr-1780	160	68	the	the	DET
cblr-1780	160	69	extent	extent	NOUN
cblr-1780	160	70	to	to	PART
cblr-1780	160	71	which	which	PRON
cblr-1780	160	72	justice	justice	PROPN
cblr-1780	160	73	kennedy	kennedy	PROPN
cblr-1780	160	74	’s	’s	PART
cblr-1780	160	75	reliance	reliance	NOUN
cblr-1780	160	76	in	in	ADP
cblr-1780	160	77	his	his	PRON
cblr-1780	160	78	majority	majority	NOUN
cblr-1780	160	79	opinion	opinion	NOUN
cblr-1780	160	80	in	in	ADP
cblr-1780	160	81	citizens	citizen	NOUN
cblr-1780	160	82	united	unite	VERB
cblr-1780	160	83	on	on	ADP
cblr-1780	160	84	the	the	DET
cblr-1780	160	85	“	"	PUNCT
cblr-1780	160	86	procedures	procedure	NOUN
cblr-1780	160	87	of	of	ADP
cblr-1780	160	88	corporate	corporate	ADJ
cblr-1780	160	89	democracy	democracy	NOUN
cblr-1780	160	90	”	"	PUNCT
cblr-1780	160	91	to	to	PART
cblr-1780	160	92	limit	limit	VERB
cblr-1780	160	93	political	political	ADJ
cblr-1780	160	94	spending	spending	NOUN
cblr-1780	160	95	by	by	ADP
cblr-1780	160	96	public	public	ADJ
cblr-1780	160	97	spending	spending	NOUN
cblr-1780	160	98	information	information	NOUN
cblr-1780	160	99	(	(	PUNCT
cblr-1780	160	100	see	see	VERB
cblr-1780	160	101	infra	infra	NOUN
cblr-1780	160	102	part	part	NOUN
cblr-1780	160	103	iv.a	iv.a	VERB
cblr-1780	160	104	)	)	PUNCT
cblr-1780	160	105	,	,	PUNCT
cblr-1780	160	106	or	or	CCONJ
cblr-1780	160	107	that	that	SCONJ
cblr-1780	160	108	political	political	ADJ
cblr-1780	160	109	spending	spending	NOUN
cblr-1780	160	110	disclosure	disclosure	NOUN
cblr-1780	160	111	could	could	AUX
cblr-1780	160	112	reduce	reduce	VERB
cblr-1780	160	113	self	self	NOUN
cblr-1780	160	114	-	-	PUNCT
cblr-1780	160	115	serving	serve	VERB
cblr-1780	160	116	behavior	behavior	NOUN
cblr-1780	160	117	by	by	ADP
cblr-1780	160	118	firm	firm	ADJ
cblr-1780	160	119	insiders	insider	NOUN
cblr-1780	160	120	(	(	PUNCT
cblr-1780	160	121	see	see	VERB
cblr-1780	160	122	infra	infra	NOUN
cblr-1780	160	123	part	part	NOUN
cblr-1780	160	124	iv.b	iv.b	NOUN
cblr-1780	160	125	)	)	PUNCT
cblr-1780	160	126	.	.	PUNCT
cblr-1780	161	1	more	more	ADV
cblr-1780	161	2	generally	generally	ADV
cblr-1780	161	3	,	,	PUNCT
cblr-1780	161	4	these	these	DET
cblr-1780	161	5	attacks	attack	NOUN
cblr-1780	161	6	suffer	suffer	VERB
cblr-1780	161	7	from	from	ADP
cblr-1780	161	8	many	many	ADJ
cblr-1780	161	9	of	of	ADP
cblr-1780	161	10	the	the	DET
cblr-1780	161	11	same	same	ADJ
cblr-1780	161	12	shortcomings	shortcoming	NOUN
cblr-1780	161	13	as	as	SCONJ
cblr-1780	161	14	does	do	VERB
cblr-1780	161	15	the	the	DET
cblr-1780	161	16	bebchuk	bebchuk	NOUN
cblr-1780	161	17	and	and	CCONJ
cblr-1780	161	18	jackson	jackson	PROPN
cblr-1780	161	19	analysis	analysis	NOUN
cblr-1780	161	20	because	because	SCONJ
cblr-1780	161	21	they	they	PRON
cblr-1780	161	22	do	do	AUX
cblr-1780	161	23	not	not	PART
cblr-1780	161	24	adequately	adequately	ADV
cblr-1780	161	25	ground	ground	VERB
cblr-1780	161	26	their	their	PRON
cblr-1780	161	27	critiques	critique	NOUN
cblr-1780	161	28	in	in	ADP
cblr-1780	161	29	a	a	DET
cblr-1780	161	30	more	more	ADV
cblr-1780	161	31	fundamental	fundamental	ADJ
cblr-1780	161	32	analysis	analysis	NOUN
cblr-1780	161	33	of	of	ADP
cblr-1780	161	34	the	the	DET
cblr-1780	161	35	purposes	purpose	NOUN
cblr-1780	161	36	legitimately	legitimately	ADV
cblr-1780	161	37	served	serve	VERB
cblr-1780	161	38	by	by	ADP
cblr-1780	161	39	the	the	DET
cblr-1780	161	40	public	public	ADJ
cblr-1780	161	41	company	company	NOUN
cblr-1780	161	42	mandatory	mandatory	ADJ
cblr-1780	161	43	disclosure	disclosure	NOUN
cblr-1780	161	44	regime	regime	NOUN
cblr-1780	161	45	.	.	PUNCT
cblr-1780	162	1	29	29	NUM
cblr-1780	162	2	bebchuk	bebchuk	PROPN
cblr-1780	162	3	&	&	CCONJ
cblr-1780	162	4	jackson	jackson	PROPN
cblr-1780	162	5	,	,	PUNCT
cblr-1780	162	6	shining	shine	VERB
cblr-1780	162	7	light	light	NOUN
cblr-1780	162	8	,	,	PUNCT
cblr-1780	162	9	supra	supra	PROPN
cblr-1780	162	10	note	note	NOUN
cblr-1780	162	11	27	27	NUM
cblr-1780	162	12	,	,	PUNCT
cblr-1780	162	13	at	at	ADP
cblr-1780	162	14	953–66	953–66	NUM
cblr-1780	162	15	.	.	PUNCT
cblr-1780	163	1	30	30	NUM
cblr-1780	163	2	see	see	VERB
cblr-1780	163	3	infra	infra	NOUN
cblr-1780	163	4	part	part	NOUN
cblr-1780	163	5	iv	iv	NUM
cblr-1780	163	6	.	.	PROPN
cblr-1780	163	7	31	31	NUM
cblr-1780	163	8	bebchuk	bebchuk	PROPN
cblr-1780	163	9	&	&	CCONJ
cblr-1780	163	10	jackson	jackson	PROPN
cblr-1780	163	11	,	,	PUNCT
cblr-1780	163	12	shining	shine	VERB
cblr-1780	163	13	light	light	NOUN
cblr-1780	163	14	,	,	PUNCT
cblr-1780	163	15	supra	supra	PROPN
cblr-1780	163	16	note	note	NOUN
cblr-1780	163	17	27	27	NUM
cblr-1780	163	18	,	,	PUNCT
cblr-1780	163	19	at	at	ADP
cblr-1780	163	20	925	925	NUM
cblr-1780	163	21	n.1	n.1	NOUN
cblr-1780	163	22	.	.	PUNCT
cblr-1780	164	1	32	32	NUM
cblr-1780	164	2	bebchuk	bebchuk	NOUN
cblr-1780	164	3	and	and	CCONJ
cblr-1780	164	4	jackson	jackson	PROPN
cblr-1780	164	5	also	also	ADV
cblr-1780	164	6	write	write	VERB
cblr-1780	164	7	an	an	DET
cblr-1780	164	8	ongoing	ongoing	ADJ
cblr-1780	164	9	series	series	NOUN
cblr-1780	164	10	of	of	ADP
cblr-1780	164	11	posts	post	NOUN
cblr-1780	164	12	regarding	regard	VERB
cblr-1780	164	13	mandatory	mandatory	ADJ
cblr-1780	164	14	disclosure	disclosure	NOUN
cblr-1780	164	15	of	of	ADP
cblr-1780	164	16	public	public	ADJ
cblr-1780	164	17	company	company	NOUN
cblr-1780	164	18	political	political	ADJ
cblr-1780	164	19	spending	spending	NOUN
cblr-1780	164	20	.	.	PUNCT
cblr-1780	165	1	posts	post	NOUN
cblr-1780	165	2	tagged	tag	VERB
cblr-1780	165	3	‘	'	PUNCT
cblr-1780	165	4	rulemaking	rulemake	VERB
cblr-1780	165	5	petition	petition	NOUN
cblr-1780	165	6	on	on	ADP
cblr-1780	165	7	corporate	corporate	ADJ
cblr-1780	165	8	political	political	ADJ
cblr-1780	165	9	spending	spending	NOUN
cblr-1780	165	10	’	'	PUNCT
cblr-1780	165	11	,	,	PUNCT
cblr-1780	166	1	harvard	harvard	PROPN
cblr-1780	166	2	law	law	PROPN
cblr-1780	166	3	sch	sch	PROPN
cblr-1780	166	4	.	.	PROPN
cblr-1780	166	5	forum	forum	PROPN
cblr-1780	166	6	on	on	ADP
cblr-1780	166	7	corporate	corporate	ADJ
cblr-1780	166	8	governance	governance	NOUN
cblr-1780	166	9	&	&	CCONJ
cblr-1780	166	10	fin	fin	NOUN
cblr-1780	166	11	.	.	PUNCT
cblr-1780	167	1	regulation	regulation	NOUN
cblr-1780	167	2	,	,	PUNCT
cblr-1780	167	3	http://perma.cc/h95q-lkr2	http://perma.cc/h95q-lkr2	PROPN
cblr-1780	167	4	(	(	PUNCT
cblr-1780	167	5	last	last	ADV
cblr-1780	167	6	visited	visit	VERB
cblr-1780	167	7	nov	nov	PROPN
cblr-1780	167	8	.	.	PROPN
cblr-1780	167	9	24	24	NUM
cblr-1780	167	10	,	,	PUNCT
cblr-1780	167	11	2014	2014	NUM
cblr-1780	167	12	)	)	PUNCT
cblr-1780	167	13	.	.	PUNCT
cblr-1780	168	1	33	33	NUM
cblr-1780	168	2	see	see	VERB
cblr-1780	168	3	bebchuk	bebchuk	PROPN
cblr-1780	168	4	&	&	CCONJ
cblr-1780	168	5	jackson	jackson	PROPN
cblr-1780	168	6	,	,	PUNCT
cblr-1780	168	7	who	who	PRON
cblr-1780	168	8	decides	decide	VERB
cblr-1780	168	9	,	,	PUNCT
cblr-1780	168	10	supra	supra	PROPN
cblr-1780	168	11	note	note	NOUN
cblr-1780	168	12	23	23	NUM
cblr-1780	168	13	.	.	PUNCT
cblr-1780	169	1	guttentag	guttentag	NOUN
cblr-1780	169	2	–	–	PUNCT
cblr-1780	169	3	final	final	ADJ
cblr-1780	169	4	no	no	NOUN
cblr-1780	169	5	.	.	PUNCT
cblr-1780	170	1	3:593	3:593	NUM
cblr-1780	170	2	]	]	PUNCT
cblr-1780	170	3	on	on	ADP
cblr-1780	170	4	political	political	ADJ
cblr-1780	170	5	spending	spending	NOUN
cblr-1780	170	6	disclosure	disclosure	NOUN
cblr-1780	170	7	605	605	NUM
cblr-1780	170	8	companies	company	NOUN
cblr-1780	170	9	is	be	AUX
cblr-1780	170	10	contingent	contingent	ADJ
cblr-1780	170	11	on	on	ADP
cblr-1780	170	12	the	the	DET
cblr-1780	170	13	availability	availability	NOUN
cblr-1780	170	14	of	of	ADP
cblr-1780	170	15	such	such	ADJ
cblr-1780	170	16	mechanisms	mechanism	NOUN
cblr-1780	170	17	.	.	PUNCT
cblr-1780	171	1	who	who	PRON
cblr-1780	171	2	decides	decide	VERB
cblr-1780	171	3	identifies	identify	VERB
cblr-1780	171	4	four	four	NUM
cblr-1780	171	5	new	new	ADJ
cblr-1780	171	6	corporate	corporate	ADJ
cblr-1780	171	7	governance	governance	NOUN
cblr-1780	171	8	mechanisms	mechanism	NOUN
cblr-1780	171	9	that	that	PRON
cblr-1780	171	10	might	might	AUX
cblr-1780	171	11	better	well	ADV
cblr-1780	171	12	align	align	VERB
cblr-1780	171	13	corporate	corporate	ADJ
cblr-1780	171	14	spending	spending	NOUN
cblr-1780	171	15	on	on	ADP
cblr-1780	171	16	political	political	ADJ
cblr-1780	171	17	contests	contest	NOUN
cblr-1780	171	18	with	with	ADP
cblr-1780	171	19	shareholder	shareholder	NOUN
cblr-1780	171	20	interests	interest	NOUN
cblr-1780	171	21	:	:	PUNCT
cblr-1780	171	22	(	(	PUNCT
cblr-1780	171	23	1	1	X
cblr-1780	171	24	)	)	PUNCT
cblr-1780	171	25	mandatory	mandatory	ADJ
cblr-1780	171	26	shareholder	shareholder	NOUN
cblr-1780	171	27	approval	approval	NOUN
cblr-1780	171	28	of	of	ADP
cblr-1780	171	29	political	political	ADJ
cblr-1780	171	30	spending	spending	NOUN
cblr-1780	171	31	,	,	PUNCT
cblr-1780	171	32	(	(	PUNCT
cblr-1780	171	33	2	2	X
cblr-1780	171	34	)	)	PUNCT
cblr-1780	171	35	mandatory	mandatory	ADJ
cblr-1780	171	36	independent	independent	ADJ
cblr-1780	171	37	director	director	NOUN
cblr-1780	171	38	approval	approval	NOUN
cblr-1780	171	39	of	of	ADP
cblr-1780	171	40	political	political	ADJ
cblr-1780	171	41	spending	spending	NOUN
cblr-1780	171	42	,	,	PUNCT
cblr-1780	171	43	(	(	PUNCT
cblr-1780	171	44	3	3	X
cblr-1780	171	45	)	)	PUNCT
cblr-1780	171	46	permitting	permit	VERB
cblr-1780	171	47	shareholders	shareholder	NOUN
cblr-1780	171	48	to	to	PART
cblr-1780	171	49	determine	determine	VERB
cblr-1780	171	50	the	the	DET
cblr-1780	171	51	extent	extent	NOUN
cblr-1780	171	52	to	to	PART
cblr-1780	171	53	which	which	PRON
cblr-1780	171	54	shareholder	shareholder	NOUN
cblr-1780	171	55	approval	approval	NOUN
cblr-1780	171	56	or	or	CCONJ
cblr-1780	171	57	independent	independent	ADJ
cblr-1780	171	58	director	director	NOUN
cblr-1780	171	59	approval	approval	NOUN
cblr-1780	171	60	of	of	ADP
cblr-1780	171	61	political	political	ADJ
cblr-1780	171	62	spending	spending	NOUN
cblr-1780	171	63	is	be	AUX
cblr-1780	171	64	required	require	VERB
cblr-1780	171	65	,	,	PUNCT
cblr-1780	171	66	and	and	CCONJ
cblr-1780	171	67	(	(	PUNCT
cblr-1780	171	68	4	4	X
cblr-1780	171	69	)	)	PUNCT
cblr-1780	171	70	requiring	require	VERB
cblr-1780	171	71	public	public	ADJ
cblr-1780	171	72	firms	firm	NOUN
cblr-1780	171	73	to	to	PART
cblr-1780	171	74	disclose	disclose	VERB
cblr-1780	171	75	political	political	ADJ
cblr-1780	171	76	spending.34	spending.34	NOUN
cblr-1780	171	77	the	the	DET
cblr-1780	171	78	second	second	ADJ
cblr-1780	171	79	source	source	NOUN
cblr-1780	171	80	i	i	PRON
cblr-1780	171	81	rely	rely	VERB
cblr-1780	171	82	upon	upon	SCONJ
cblr-1780	171	83	to	to	PART
cblr-1780	171	84	reconstruct	reconstruct	VERB
cblr-1780	171	85	the	the	DET
cblr-1780	171	86	bebchuk	bebchuk	NOUN
cblr-1780	171	87	and	and	CCONJ
cblr-1780	171	88	jackson	jackson	PROPN
cblr-1780	171	89	arguments	argument	NOUN
cblr-1780	171	90	is	be	AUX
cblr-1780	171	91	the	the	DET
cblr-1780	171	92	bebchuk	bebchuk	NOUN
cblr-1780	171	93	petition.35	petition.35	NOUN
cblr-1780	171	94	i	i	PRON
cblr-1780	171	95	look	look	VERB
cblr-1780	171	96	to	to	ADP
cblr-1780	171	97	the	the	DET
cblr-1780	171	98	bebchuk	bebchuk	NOUN
cblr-1780	171	99	petition	petition	NOUN
cblr-1780	171	100	because	because	SCONJ
cblr-1780	171	101	bebchuk	bebchuk	PROPN
cblr-1780	171	102	and	and	CCONJ
cblr-1780	171	103	jackson	jackson	PROPN
cblr-1780	171	104	were	be	AUX
cblr-1780	171	105	the	the	DET
cblr-1780	171	106	co	co	NOUN
cblr-1780	171	107	-	-	NOUN
cblr-1780	171	108	chairmen	chairman	NOUN
cblr-1780	171	109	of	of	ADP
cblr-1780	171	110	the	the	DET
cblr-1780	171	111	committee	committee	NOUN
cblr-1780	171	112	and	and	CCONJ
cblr-1780	171	113	the	the	DET
cblr-1780	171	114	“	"	PUNCT
cblr-1780	171	115	principal	principal	ADJ
cblr-1780	171	116	draftsmen	draftsman	NOUN
cblr-1780	171	117	”	"	PUNCT
cblr-1780	171	118	of	of	ADP
cblr-1780	171	119	the	the	DET
cblr-1780	171	120	petition.36	petition.36	NOUN
cblr-1780	171	121	the	the	DET
cblr-1780	171	122	bebchuk	bebchuk	NOUN
cblr-1780	171	123	petition	petition	NOUN
cblr-1780	171	124	primarily	primarily	ADV
cblr-1780	171	125	argues	argue	VERB
cblr-1780	171	126	that	that	SCONJ
cblr-1780	171	127	investor	investor	NOUN
cblr-1780	171	128	interest	interest	NOUN
cblr-1780	171	129	in	in	ADP
cblr-1780	171	130	public	public	ADJ
cblr-1780	171	131	company	company	NOUN
cblr-1780	171	132	political	political	ADJ
cblr-1780	171	133	spending	spending	NOUN
cblr-1780	171	134	justifies	justify	VERB
cblr-1780	171	135	making	make	VERB
cblr-1780	171	136	disclosure	disclosure	NOUN
cblr-1780	171	137	of	of	ADP
cblr-1780	171	138	this	this	DET
cblr-1780	171	139	information	information	NOUN
cblr-1780	171	140	mandatory.37	mandatory.37	VERB
cblr-1780	171	141	the	the	DET
cblr-1780	171	142	third	third	ADJ
cblr-1780	171	143	source	source	NOUN
cblr-1780	171	144	i	i	PRON
cblr-1780	171	145	rely	rely	VERB
cblr-1780	171	146	on	on	ADP
cblr-1780	171	147	to	to	PART
cblr-1780	171	148	reconstruct	reconstruct	VERB
cblr-1780	171	149	the	the	DET
cblr-1780	171	150	bebchuk	bebchuk	NOUN
cblr-1780	171	151	and	and	CCONJ
cblr-1780	171	152	jackson	jackson	PROPN
cblr-1780	171	153	arguments	argument	NOUN
cblr-1780	171	154	is	be	AUX
cblr-1780	171	155	the	the	DET
cblr-1780	171	156	shining	shine	VERB
cblr-1780	171	157	light	light	NOUN
cblr-1780	171	158	article.38	article.38	NOUN
cblr-1780	171	159	in	in	ADP
cblr-1780	171	160	shining	shine	VERB
cblr-1780	171	161	light	light	NOUN
cblr-1780	171	162	,	,	PUNCT
cblr-1780	171	163	bebchuk	bebchuk	PROPN
cblr-1780	171	164	and	and	CCONJ
cblr-1780	171	165	jackson	jackson	PROPN
cblr-1780	171	166	consider	consider	VERB
cblr-1780	171	167	several	several	ADJ
cblr-1780	171	168	aspects	aspect	NOUN
cblr-1780	171	169	of	of	ADP
cblr-1780	171	170	the	the	DET
cblr-1780	171	171	debate	debate	NOUN
cblr-1780	171	172	on	on	ADP
cblr-1780	171	173	political	political	ADJ
cblr-1780	171	174	spending	spending	NOUN
cblr-1780	171	175	disclosure	disclosure	NOUN
cblr-1780	171	176	,	,	PUNCT
cblr-1780	171	177	including	include	VERB
cblr-1780	171	178	:	:	PUNCT
cblr-1780	171	179	(	(	PUNCT
cblr-1780	171	180	1	1	X
cblr-1780	171	181	)	)	PUNCT
cblr-1780	171	182	the	the	DET
cblr-1780	171	183	sec	sec	PROPN
cblr-1780	171	184	’s	’s	PART
cblr-1780	171	185	past	past	ADJ
cblr-1780	171	186	practice	practice	NOUN
cblr-1780	171	187	of	of	ADP
cblr-1780	171	188	enacting	enact	VERB
cblr-1780	171	189	disclosure	disclosure	NOUN
cblr-1780	171	190	requirements	requirement	NOUN
cblr-1780	171	191	in	in	ADP
cblr-1780	171	192	response	response	NOUN
cblr-1780	171	193	to	to	ADP
cblr-1780	171	194	investor	investor	NOUN
cblr-1780	171	195	interest,39	interest,39	NOUN
cblr-1780	171	196	(	(	PUNCT
cblr-1780	171	197	2	2	NUM
cblr-1780	171	198	)	)	PUNCT
cblr-1780	171	199	evidence	evidence	NOUN
cblr-1780	171	200	of	of	ADP
cblr-1780	171	201	substantial	substantial	ADJ
cblr-1780	171	202	investor	investor	NOUN
cblr-1780	171	203	interest	interest	NOUN
cblr-1780	171	204	in	in	ADP
cblr-1780	171	205	political	political	ADJ
cblr-1780	171	206	spending,40	spending,40	NOUN
cblr-1780	171	207	(	(	PUNCT
cblr-1780	171	208	3	3	NUM
cblr-1780	171	209	)	)	PUNCT
cblr-1780	171	210	evidence	evidence	NOUN
cblr-1780	171	211	that	that	SCONJ
cblr-1780	171	212	public	public	ADJ
cblr-1780	171	213	company	company	NOUN
cblr-1780	171	214	political	political	ADJ
cblr-1780	171	215	spending	spending	NOUN
cblr-1780	171	216	information	information	NOUN
cblr-1780	171	217	is	be	AUX
cblr-1780	171	218	not	not	PART
cblr-1780	171	219	yet	yet	ADV
cblr-1780	171	220	34	34	NUM
cblr-1780	171	221	bebchuk	bebchuk	PROPN
cblr-1780	171	222	&	&	CCONJ
cblr-1780	171	223	jackson	jackson	PROPN
cblr-1780	171	224	,	,	PUNCT
cblr-1780	171	225	who	who	PRON
cblr-1780	171	226	decides	decide	VERB
cblr-1780	171	227	,	,	PUNCT
cblr-1780	171	228	supra	supra	PROPN
cblr-1780	171	229	note	note	NOUN
cblr-1780	171	230	23	23	NUM
cblr-1780	171	231	,	,	PUNCT
cblr-1780	171	232	at	at	ADP
cblr-1780	171	233	117	117	NUM
cblr-1780	171	234	(	(	PUNCT
cblr-1780	171	235	“	"	PUNCT
cblr-1780	171	236	we	we	PRON
cblr-1780	171	237	have	have	AUX
cblr-1780	171	238	examined	examine	VERB
cblr-1780	171	239	which	which	DET
cblr-1780	171	240	rules	rule	NOUN
cblr-1780	171	241	would	would	AUX
cblr-1780	171	242	best	well	ADV
cblr-1780	171	243	address	address	VERB
cblr-1780	171	244	agency	agency	NOUN
cblr-1780	171	245	problems	problem	NOUN
cblr-1780	171	246	and	and	CCONJ
cblr-1780	171	247	align	align	VERB
cblr-1780	171	248	political	political	ADJ
cblr-1780	171	249	speech	speech	NOUN
cblr-1780	171	250	decisions	decision	NOUN
cblr-1780	171	251	with	with	ADP
cblr-1780	171	252	the	the	DET
cblr-1780	171	253	interests	interest	NOUN
cblr-1780	171	254	of	of	ADP
cblr-1780	171	255	shareholders	shareholder	NOUN
cblr-1780	171	256	.	.	PUNCT
cblr-1780	171	257	”	"	PUNCT
cblr-1780	171	258	)	)	PUNCT
cblr-1780	171	259	.	.	PUNCT
cblr-1780	172	1	35	35	NUM
cblr-1780	172	2	see	see	VERB
cblr-1780	172	3	bebchuk	bebchuk	NOUN
cblr-1780	172	4	petition	petition	NOUN
cblr-1780	172	5	,	,	PUNCT
cblr-1780	172	6	supra	supra	PROPN
cblr-1780	172	7	note	note	NOUN
cblr-1780	172	8	4	4	NUM
cblr-1780	172	9	.	.	SYM
cblr-1780	172	10	36	36	NUM
cblr-1780	172	11	see	see	VERB
cblr-1780	172	12	bebchuk	bebchuk	PROPN
cblr-1780	172	13	&	&	CCONJ
cblr-1780	172	14	jackson	jackson	PROPN
cblr-1780	172	15	,	,	PUNCT
cblr-1780	172	16	shining	shine	VERB
cblr-1780	172	17	light	light	NOUN
cblr-1780	172	18	,	,	PUNCT
cblr-1780	172	19	supra	supra	PROPN
cblr-1780	172	20	note	note	NOUN
cblr-1780	172	21	27	27	NUM
cblr-1780	172	22	,	,	PUNCT
cblr-1780	172	23	at	at	ADP
cblr-1780	172	24	925	925	NUM
cblr-1780	172	25	n.1	n.1	NUM
cblr-1780	172	26	.	.	PUNCT
cblr-1780	173	1	37	37	NUM
cblr-1780	173	2	see	see	VERB
cblr-1780	173	3	bebchuk	bebchuk	NOUN
cblr-1780	173	4	petition	petition	NOUN
cblr-1780	173	5	,	,	PUNCT
cblr-1780	173	6	supra	supra	PROPN
cblr-1780	173	7	note	note	NOUN
cblr-1780	173	8	4	4	NUM
cblr-1780	173	9	,	,	PUNCT
cblr-1780	173	10	at	at	ADP
cblr-1780	173	11	7	7	NUM
cblr-1780	173	12	,	,	PUNCT
cblr-1780	173	13	9–10	9–10	NOUN
cblr-1780	173	14	.	.	PUNCT
cblr-1780	174	1	the	the	DET
cblr-1780	174	2	arguments	argument	NOUN
cblr-1780	174	3	offered	offer	VERB
cblr-1780	174	4	in	in	ADP
cblr-1780	174	5	the	the	DET
cblr-1780	174	6	bebchuk	bebchuk	NOUN
cblr-1780	174	7	petition	petition	NOUN
cblr-1780	174	8	for	for	ADP
cblr-1780	174	9	requiring	require	VERB
cblr-1780	174	10	political	political	ADJ
cblr-1780	174	11	spending	spending	NOUN
cblr-1780	174	12	disclosures	disclosure	NOUN
cblr-1780	174	13	are	be	AUX
cblr-1780	174	14	,	,	PUNCT
cblr-1780	174	15	perhaps	perhaps	ADV
cblr-1780	174	16	surprisingly	surprisingly	ADV
cblr-1780	174	17	,	,	PUNCT
cblr-1780	174	18	quite	quite	ADV
cblr-1780	174	19	limited	limited	ADJ
cblr-1780	174	20	in	in	ADP
cblr-1780	174	21	scope	scope	NOUN
cblr-1780	174	22	.	.	PUNCT
cblr-1780	175	1	there	there	PRON
cblr-1780	175	2	are	be	VERB
cblr-1780	175	3	several	several	ADJ
cblr-1780	175	4	possible	possible	ADJ
cblr-1780	175	5	explanations	explanation	NOUN
cblr-1780	175	6	for	for	ADP
cblr-1780	175	7	this	this	DET
cblr-1780	175	8	limited	limited	ADJ
cblr-1780	175	9	scope	scope	NOUN
cblr-1780	175	10	,	,	PUNCT
cblr-1780	175	11	including	include	VERB
cblr-1780	175	12	differences	difference	NOUN
cblr-1780	175	13	of	of	ADP
cblr-1780	175	14	opinion	opinion	NOUN
cblr-1780	175	15	between	between	ADP
cblr-1780	175	16	the	the	DET
cblr-1780	175	17	committee	committee	NOUN
cblr-1780	175	18	members	member	NOUN
cblr-1780	175	19	,	,	PUNCT
cblr-1780	175	20	a	a	DET
cblr-1780	175	21	desire	desire	NOUN
cblr-1780	175	22	to	to	PART
cblr-1780	175	23	keep	keep	VERB
cblr-1780	175	24	the	the	DET
cblr-1780	175	25	rule	rule	NOUN
cblr-1780	175	26	-	-	PUNCT
cblr-1780	175	27	making	make	VERB
cblr-1780	175	28	proposal	proposal	NOUN
cblr-1780	175	29	short	short	ADJ
cblr-1780	175	30	and	and	CCONJ
cblr-1780	175	31	concise	concise	ADJ
cblr-1780	175	32	,	,	PUNCT
cblr-1780	175	33	and	and	CCONJ
cblr-1780	175	34	an	an	DET
cblr-1780	175	35	effort	effort	NOUN
cblr-1780	175	36	to	to	PART
cblr-1780	175	37	focus	focus	VERB
cblr-1780	175	38	on	on	ADP
cblr-1780	175	39	arguments	argument	NOUN
cblr-1780	175	40	that	that	PRON
cblr-1780	175	41	would	would	AUX
cblr-1780	175	42	be	be	AUX
cblr-1780	175	43	especially	especially	ADV
cblr-1780	175	44	appealing	appeal	VERB
cblr-1780	175	45	to	to	ADP
cblr-1780	175	46	the	the	DET
cblr-1780	175	47	sec	sec	PROPN
cblr-1780	175	48	.	.	PROPN
cblr-1780	175	49	38	38	NUM
cblr-1780	175	50	see	see	VERB
cblr-1780	175	51	bebchuk	bebchuk	PROPN
cblr-1780	175	52	&	&	CCONJ
cblr-1780	175	53	jackson	jackson	PROPN
cblr-1780	175	54	,	,	PUNCT
cblr-1780	175	55	shining	shine	VERB
cblr-1780	175	56	light	light	NOUN
cblr-1780	175	57	,	,	PUNCT
cblr-1780	175	58	supra	supra	PROPN
cblr-1780	175	59	note	note	NOUN
cblr-1780	175	60	27	27	NUM
cblr-1780	175	61	.	.	NOUN
cblr-1780	175	62	39	39	NUM
cblr-1780	176	1	i	i	PRON
cblr-1780	176	2	d.	d.	NOUN
cblr-1780	176	3	at	at	ADP
cblr-1780	176	4	939–40	939–40	NUM
cblr-1780	176	5	.	.	PUNCT
cblr-1780	177	1	40	40	NUM
cblr-1780	178	1	i	i	PRON
cblr-1780	178	2	d.	d.	PROPN
cblr-1780	178	3	at	at	ADP
cblr-1780	178	4	940–41	940–41	PROPN
cblr-1780	178	5	.	.	PUNCT
cblr-1780	179	1	guttentag	guttentag	NOUN
cblr-1780	179	2	–	–	PUNCT
cblr-1780	179	3	final	final	ADJ
cblr-1780	179	4	606	606	NUM
cblr-1780	179	5	columbia	columbia	PROPN
cblr-1780	179	6	business	business	NOUN
cblr-1780	179	7	law	law	NOUN
cblr-1780	179	8	review	review	NOUN
cblr-1780	180	1	[	[	X
cblr-1780	180	2	vol	vol	NOUN
cblr-1780	180	3	.	.	PUNCT
cblr-1780	180	4	2014	2014	NUM
cblr-1780	180	5	readily	readily	ADV
cblr-1780	180	6	available,41	available,41	ADP
cblr-1780	180	7	(	(	PUNCT
cblr-1780	180	8	4	4	X
cblr-1780	180	9	)	)	PUNCT
cblr-1780	180	10	why	why	SCONJ
cblr-1780	180	11	political	political	ADJ
cblr-1780	180	12	spending	spending	NOUN
cblr-1780	180	13	is	be	AUX
cblr-1780	180	14	sufficiently	sufficiently	ADV
cblr-1780	180	15	different	different	ADJ
cblr-1780	180	16	from	from	ADP
cblr-1780	180	17	ordinary	ordinary	ADJ
cblr-1780	180	18	types	type	NOUN
cblr-1780	180	19	of	of	ADP
cblr-1780	180	20	corporate	corporate	ADJ
cblr-1780	180	21	spending	spending	NOUN
cblr-1780	180	22	to	to	PART
cblr-1780	180	23	justify	justify	VERB
cblr-1780	180	24	its	its	PRON
cblr-1780	180	25	own	own	ADJ
cblr-1780	180	26	mandatory	mandatory	ADJ
cblr-1780	180	27	disclosure	disclosure	NOUN
cblr-1780	180	28	requirement,42	requirement,42	NOUN
cblr-1780	180	29	(	(	PUNCT
cblr-1780	180	30	5	5	NUM
cblr-1780	180	31	)	)	PUNCT
cblr-1780	180	32	why	why	SCONJ
cblr-1780	180	33	a	a	DET
cblr-1780	180	34	voluntary	voluntary	ADJ
cblr-1780	180	35	disclosure	disclosure	NOUN
cblr-1780	180	36	regime	regime	NOUN
cblr-1780	180	37	alone	alone	ADV
cblr-1780	180	38	will	will	AUX
cblr-1780	180	39	not	not	PART
cblr-1780	180	40	address	address	VERB
cblr-1780	180	41	the	the	DET
cblr-1780	180	42	demand	demand	NOUN
cblr-1780	180	43	for	for	ADP
cblr-1780	180	44	information	information	NOUN
cblr-1780	180	45	about	about	ADP
cblr-1780	180	46	public	public	ADJ
cblr-1780	180	47	company	company	NOUN
cblr-1780	180	48	political	political	NOUN
cblr-1780	180	49	spending,43	spending,43	NOUN
cblr-1780	180	50	and	and	CCONJ
cblr-1780	180	51	(	(	PUNCT
cblr-1780	180	52	6	6	NUM
cblr-1780	180	53	)	)	PUNCT
cblr-1780	180	54	recommendations	recommendation	NOUN
cblr-1780	180	55	as	as	ADP
cblr-1780	180	56	to	to	ADP
cblr-1780	180	57	how	how	SCONJ
cblr-1780	180	58	to	to	PART
cblr-1780	180	59	implement	implement	VERB
cblr-1780	180	60	a	a	DET
cblr-1780	180	61	corporate	corporate	ADJ
cblr-1780	180	62	political	political	ADJ
cblr-1780	180	63	spending	spending	NOUN
cblr-1780	180	64	disclosure	disclosure	NOUN
cblr-1780	180	65	requirement.44	requirement.44	VERB
cblr-1780	180	66	bebchuk	bebchuk	NOUN
cblr-1780	180	67	and	and	CCONJ
cblr-1780	180	68	jackson	jackson	PROPN
cblr-1780	180	69	also	also	ADV
cblr-1780	180	70	identify	identify	VERB
cblr-1780	180	71	and	and	CCONJ
cblr-1780	180	72	respond	respond	VERB
cblr-1780	180	73	to	to	ADP
cblr-1780	180	74	ten	ten	NUM
cblr-1780	180	75	objections	objection	NOUN
cblr-1780	180	76	against	against	ADP
cblr-1780	180	77	requiring	require	VERB
cblr-1780	180	78	public	public	ADJ
cblr-1780	180	79	companies	company	NOUN
cblr-1780	180	80	to	to	PART
cblr-1780	180	81	disclose	disclose	VERB
cblr-1780	180	82	political	political	ADJ
cblr-1780	180	83	spending.45	spending.45	NOUN
cblr-1780	180	84	for	for	ADP
cblr-1780	180	85	example	example	NOUN
cblr-1780	180	86	,	,	PUNCT
cblr-1780	180	87	they	they	PRON
cblr-1780	180	88	argue	argue	VERB
cblr-1780	180	89	that	that	SCONJ
cblr-1780	180	90	such	such	ADJ
cblr-1780	180	91	disclosure	disclosure	NOUN
cblr-1780	180	92	would	would	AUX
cblr-1780	180	93	impose	impose	VERB
cblr-1780	180	94	only	only	ADV
cblr-1780	180	95	minimal	minimal	ADJ
cblr-1780	180	96	costs	cost	NOUN
cblr-1780	180	97	on	on	ADP
cblr-1780	180	98	public	public	ADJ
cblr-1780	180	99	companies.46	companies.46	PROPN
cblr-1780	180	100	bebchuk	bebchuk	PROPN
cblr-1780	180	101	and	and	CCONJ
cblr-1780	180	102	jackson	jackson	PROPN
cblr-1780	180	103	may	may	AUX
cblr-1780	180	104	be	be	AUX
cblr-1780	180	105	understood	understand	VERB
cblr-1780	180	106	from	from	ADP
cblr-1780	180	107	these	these	DET
cblr-1780	180	108	sources	source	NOUN
cblr-1780	180	109	as	as	ADP
cblr-1780	180	110	advancing	advance	VERB
cblr-1780	180	111	three	three	NUM
cblr-1780	180	112	main	main	ADJ
cblr-1780	180	113	arguments	argument	NOUN
cblr-1780	180	114	for	for	ADP
cblr-1780	180	115	requiring	require	VERB
cblr-1780	180	116	public	public	ADJ
cblr-1780	180	117	companies	company	NOUN
cblr-1780	180	118	to	to	PART
cblr-1780	180	119	disclose	disclose	VERB
cblr-1780	180	120	political	political	ADJ
cblr-1780	180	121	spending	spending	NOUN
cblr-1780	180	122	.	.	PUNCT
cblr-1780	181	1	first	first	ADV
cblr-1780	181	2	,	,	PUNCT
cblr-1780	181	3	bebchuk	bebchuk	PROPN
cblr-1780	181	4	and	and	CCONJ
cblr-1780	181	5	jackson	jackson	PROPN
cblr-1780	181	6	argue	argue	VERB
cblr-1780	181	7	that	that	SCONJ
cblr-1780	181	8	similarities	similarity	NOUN
cblr-1780	181	9	between	between	ADP
cblr-1780	181	10	political	political	ADJ
cblr-1780	181	11	spending	spending	NOUN
cblr-1780	181	12	and	and	CCONJ
cblr-1780	181	13	other	other	ADJ
cblr-1780	181	14	types	type	NOUN
cblr-1780	181	15	of	of	ADP
cblr-1780	181	16	information	information	NOUN
cblr-1780	181	17	public	public	ADJ
cblr-1780	181	18	companies	company	NOUN
cblr-1780	181	19	are	be	AUX
cblr-1780	181	20	already	already	ADV
cblr-1780	181	21	required	require	VERB
cblr-1780	181	22	to	to	PART
cblr-1780	181	23	disclose	disclose	VERB
cblr-1780	181	24	justify	justify	VERB
cblr-1780	181	25	requiring	require	VERB
cblr-1780	181	26	the	the	DET
cblr-1780	181	27	disclosure	disclosure	NOUN
cblr-1780	181	28	of	of	ADP
cblr-1780	181	29	political	political	ADJ
cblr-1780	181	30	spending	spending	NOUN
cblr-1780	181	31	(	(	PUNCT
cblr-1780	181	32	the	the	DET
cblr-1780	181	33	“	"	PUNCT
cblr-1780	181	34	argument	argument	NOUN
cblr-1780	181	35	by	by	ADP
cblr-1780	181	36	analogy”).47	analogy”).47	NOUN
cblr-1780	181	37	second	second	ADJ
cblr-1780	181	38	,	,	PUNCT
cblr-1780	181	39	bebchuk	bebchuk	PROPN
cblr-1780	181	40	and	and	CCONJ
cblr-1780	181	41	jackson	jackson	PROPN
cblr-1780	181	42	claim	claim	VERB
cblr-1780	181	43	that	that	SCONJ
cblr-1780	181	44	the	the	DET
cblr-1780	181	45	mandatory	mandatory	ADJ
cblr-1780	181	46	disclosure	disclosure	NOUN
cblr-1780	181	47	of	of	ADP
cblr-1780	181	48	political	political	ADJ
cblr-1780	181	49	spending	spending	NOUN
cblr-1780	181	50	provides	provide	VERB
cblr-1780	181	51	shareholders	shareholder	NOUN
cblr-1780	181	52	the	the	DET
cblr-1780	181	53	information	information	NOUN
cblr-1780	181	54	they	they	PRON
cblr-1780	181	55	need	need	VERB
cblr-1780	181	56	to	to	PART
cblr-1780	181	57	protect	protect	VERB
cblr-1780	181	58	against	against	ADP
cblr-1780	181	59	investing	invest	VERB
cblr-1780	181	60	in	in	ADP
cblr-1780	181	61	firms	firm	NOUN
cblr-1780	181	62	that	that	PRON
cblr-1780	181	63	support	support	VERB
cblr-1780	181	64	political	political	ADJ
cblr-1780	181	65	causes	cause	NOUN
cblr-1780	181	66	they	they	PRON
cblr-1780	181	67	may	may	AUX
cblr-1780	181	68	find	find	VERB
cblr-1780	181	69	objectionable	objectionable	ADJ
cblr-1780	181	70	(	(	PUNCT
cblr-1780	181	71	the	the	DET
cblr-1780	181	72	“	"	PUNCT
cblr-1780	181	73	expressive	expressive	ADJ
cblr-1780	181	74	investor	investor	NOUN
cblr-1780	181	75	protection	protection	NOUN
cblr-1780	181	76	argument”).48	argument”).48	VERB
cblr-1780	181	77	third	third	ADJ
cblr-1780	181	78	,	,	PUNCT
cblr-1780	181	79	bebchuk	bebchuk	PROPN
cblr-1780	181	80	and	and	CCONJ
cblr-1780	181	81	jackson	jackson	PROPN
cblr-1780	181	82	identify	identify	VERB
cblr-1780	181	83	several	several	ADJ
cblr-1780	181	84	problems	problem	NOUN
cblr-1780	181	85	with	with	ADP
cblr-1780	181	86	relying	rely	VERB
cblr-1780	181	87	on	on	ADP
cblr-1780	181	88	private	private	ADJ
cblr-1780	181	89	ordering	ordering	NOUN
cblr-1780	181	90	to	to	PART
cblr-1780	181	91	establish	establish	VERB
cblr-1780	181	92	an	an	DET
cblr-1780	181	93	optimal	optimal	ADJ
cblr-1780	181	94	level	level	NOUN
cblr-1780	181	95	of	of	ADP
cblr-1780	181	96	political	political	ADJ
cblr-1780	181	97	spending	spending	NOUN
cblr-1780	181	98	disclosure	disclosure	NOUN
cblr-1780	181	99	by	by	ADP
cblr-1780	181	100	public	public	ADJ
cblr-1780	181	101	41	41	NUM
cblr-1780	181	102	bebchuk	bebchuk	PROPN
cblr-1780	181	103	&	&	CCONJ
cblr-1780	181	104	jackson	jackson	PROPN
cblr-1780	181	105	,	,	PUNCT
cblr-1780	181	106	shining	shine	VERB
cblr-1780	181	107	light	light	NOUN
cblr-1780	181	108	,	,	PUNCT
cblr-1780	181	109	supra	supra	PROPN
cblr-1780	181	110	note	note	NOUN
cblr-1780	181	111	27	27	NUM
cblr-1780	181	112	,	,	PUNCT
cblr-1780	181	113	at	at	ADP
cblr-1780	181	114	930–37	930–37	NOUN
cblr-1780	181	115	.	.	PUNCT
cblr-1780	182	1	42	42	NUM
cblr-1780	183	1	i	i	PRON
cblr-1780	183	2	d.	d.	PROPN
cblr-1780	183	3	at	at	ADP
cblr-1780	183	4	942–44	942–44	PROPN
cblr-1780	183	5	.	.	PUNCT
cblr-1780	184	1	43	43	NUM
cblr-1780	185	1	i	i	PRON
cblr-1780	185	2	d.	d.	VERB
cblr-1780	185	3	at	at	ADP
cblr-1780	185	4	947–49	947–49	NUM
cblr-1780	185	5	.	.	PUNCT
cblr-1780	186	1	44	44	NUM
cblr-1780	187	1	i	i	PRON
cblr-1780	187	2	d.	d.	PROPN
cblr-1780	187	3	at	at	ADP
cblr-1780	187	4	949–53	949–53	NUM
cblr-1780	187	5	.	.	PUNCT
cblr-1780	188	1	45	45	NUM
cblr-1780	189	1	i	i	PROPN
cblr-1780	189	2	d.	d.	PROPN
cblr-1780	189	3	at	at	ADP
cblr-1780	189	4	953–65	953–65	NOUN
cblr-1780	189	5	.	.	PUNCT
cblr-1780	190	1	46	46	NUM
cblr-1780	191	1	i	i	PRON
cblr-1780	191	2	d.	d.	PROPN
cblr-1780	191	3	at	at	ADP
cblr-1780	191	4	964	964	NUM
cblr-1780	191	5	.	.	PUNCT
cblr-1780	192	1	47	47	NUM
cblr-1780	192	2	see	see	VERB
cblr-1780	192	3	infra	infra	NOUN
cblr-1780	192	4	part	part	NOUN
cblr-1780	192	5	ii.a	ii.a	NOUN
cblr-1780	192	6	.	.	PUNCT
cblr-1780	193	1	48	48	NUM
cblr-1780	193	2	see	see	VERB
cblr-1780	193	3	infra	infra	NOUN
cblr-1780	193	4	part	part	NOUN
cblr-1780	193	5	ii.c	ii.c	VERB
cblr-1780	193	6	.	.	PUNCT
cblr-1780	194	1	i	i	PRON
cblr-1780	194	2	use	use	VERB
cblr-1780	194	3	the	the	DET
cblr-1780	194	4	term	term	NOUN
cblr-1780	194	5	“	"	PUNCT
cblr-1780	194	6	expressive	expressive	ADJ
cblr-1780	194	7	investor	investor	NOUN
cblr-1780	194	8	protection	protection	NOUN
cblr-1780	194	9	”	"	PUNCT
cblr-1780	194	10	to	to	PART
cblr-1780	194	11	describe	describe	VERB
cblr-1780	194	12	the	the	DET
cblr-1780	194	13	distinctive	distinctive	ADJ
cblr-1780	194	14	type	type	NOUN
cblr-1780	194	15	of	of	ADP
cblr-1780	194	16	investor	investor	NOUN
cblr-1780	194	17	protection	protection	NOUN
cblr-1780	194	18	bebchuk	bebchuk	PROPN
cblr-1780	194	19	and	and	CCONJ
cblr-1780	194	20	jackson	jackson	PROPN
cblr-1780	194	21	claim	claim	VERB
cblr-1780	194	22	a	a	DET
cblr-1780	194	23	political	political	ADJ
cblr-1780	194	24	spending	spending	NOUN
cblr-1780	194	25	disclosure	disclosure	NOUN
cblr-1780	194	26	requirement	requirement	NOUN
cblr-1780	194	27	might	might	AUX
cblr-1780	194	28	provide	provide	VERB
cblr-1780	194	29	.	.	PUNCT
cblr-1780	195	1	guttentag	guttentag	NOUN
cblr-1780	195	2	–	–	PUNCT
cblr-1780	195	3	final	final	ADJ
cblr-1780	195	4	no	no	NOUN
cblr-1780	195	5	.	.	PUNCT
cblr-1780	196	1	3:593	3:593	NUM
cblr-1780	196	2	]	]	PUNCT
cblr-1780	196	3	on	on	ADP
cblr-1780	196	4	political	political	ADJ
cblr-1780	196	5	spending	spending	NOUN
cblr-1780	196	6	disclosure	disclosure	NOUN
cblr-1780	196	7	607	607	NUM
cblr-1780	196	8	companies	company	NOUN
cblr-1780	196	9	(	(	PUNCT
cblr-1780	196	10	the	the	DET
cblr-1780	196	11	“	"	PUNCT
cblr-1780	196	12	market	market	NOUN
cblr-1780	196	13	failure	failure	NOUN
cblr-1780	196	14	arguments”).49	arguments”).49	ADP
cblr-1780	196	15	each	each	PRON
cblr-1780	196	16	of	of	ADP
cblr-1780	196	17	these	these	DET
cblr-1780	196	18	arguments	argument	NOUN
cblr-1780	196	19	and	and	CCONJ
cblr-1780	196	20	their	their	PRON
cblr-1780	196	21	limitations	limitation	NOUN
cblr-1780	196	22	are	be	AUX
cblr-1780	196	23	reviewed	review	VERB
cblr-1780	196	24	next	next	ADV
cblr-1780	196	25	.	.	PUNCT
cblr-1780	197	1	a.	a.	NOUN
cblr-1780	197	2	analogy	analogy	NOUN
cblr-1780	197	3	to	to	ADP
cblr-1780	197	4	information	information	NOUN
cblr-1780	197	5	already	already	ADV
cblr-1780	197	6	required	require	VERB
cblr-1780	197	7	to	to	PART
cblr-1780	197	8	be	be	AUX
cblr-1780	197	9	disclosed	disclose	VERB
cblr-1780	197	10	the	the	DET
cblr-1780	197	11	first	first	ADJ
cblr-1780	197	12	argument	argument	NOUN
cblr-1780	197	13	bebchuk	bebchuk	NOUN
cblr-1780	197	14	and	and	CCONJ
cblr-1780	197	15	jackson	jackson	PROPN
cblr-1780	197	16	offer	offer	VERB
cblr-1780	197	17	for	for	ADP
cblr-1780	197	18	requiring	require	VERB
cblr-1780	197	19	public	public	ADJ
cblr-1780	197	20	companies	company	NOUN
cblr-1780	197	21	to	to	PART
cblr-1780	197	22	disclose	disclose	VERB
cblr-1780	197	23	political	political	ADJ
cblr-1780	197	24	spending	spending	NOUN
cblr-1780	197	25	is	be	AUX
cblr-1780	197	26	an	an	DET
cblr-1780	197	27	argument	argument	NOUN
cblr-1780	197	28	by	by	ADP
cblr-1780	197	29	analogy	analogy	NOUN
cblr-1780	197	30	.	.	PUNCT
cblr-1780	198	1	the	the	DET
cblr-1780	198	2	essence	essence	NOUN
cblr-1780	198	3	of	of	ADP
cblr-1780	198	4	this	this	DET
cblr-1780	198	5	argument	argument	NOUN
cblr-1780	198	6	is	be	AUX
cblr-1780	198	7	that	that	SCONJ
cblr-1780	198	8	similarities	similarity	NOUN
cblr-1780	198	9	between	between	ADP
cblr-1780	198	10	political	political	ADJ
cblr-1780	198	11	spending	spending	NOUN
cblr-1780	198	12	and	and	CCONJ
cblr-1780	198	13	other	other	ADJ
cblr-1780	198	14	information	information	NOUN
cblr-1780	198	15	that	that	PRON
cblr-1780	198	16	the	the	DET
cblr-1780	198	17	sec	sec	PROPN
cblr-1780	198	18	already	already	ADV
cblr-1780	198	19	mandates	mandate	VERB
cblr-1780	198	20	disclosure	disclosure	NOUN
cblr-1780	198	21	of	of	ADP
cblr-1780	198	22	justify	justify	VERB
cblr-1780	198	23	requiring	require	VERB
cblr-1780	198	24	the	the	DET
cblr-1780	198	25	disclosure	disclosure	NOUN
cblr-1780	198	26	of	of	ADP
cblr-1780	198	27	political	political	ADJ
cblr-1780	198	28	spending	spending	NOUN
cblr-1780	198	29	.	.	PUNCT
cblr-1780	199	1	bebchuk	bebchuk	PROPN
cblr-1780	199	2	and	and	CCONJ
cblr-1780	199	3	jackson	jackson	PROPN
cblr-1780	199	4	emphasize	emphasize	VERB
cblr-1780	199	5	two	two	NUM
cblr-1780	199	6	similarities	similarity	NOUN
cblr-1780	199	7	in	in	ADP
cblr-1780	199	8	particular	particular	ADJ
cblr-1780	199	9	in	in	ADP
cblr-1780	199	10	advancing	advance	VERB
cblr-1780	199	11	this	this	DET
cblr-1780	199	12	argument	argument	NOUN
cblr-1780	199	13	by	by	ADP
cblr-1780	199	14	analogy	analogy	NOUN
cblr-1780	199	15	.	.	PUNCT
cblr-1780	200	1	first	first	ADV
cblr-1780	200	2	,	,	PUNCT
cblr-1780	200	3	bebchuk	bebchuk	PROPN
cblr-1780	200	4	and	and	CCONJ
cblr-1780	200	5	jackson	jackson	PROPN
cblr-1780	200	6	highlight	highlight	VERB
cblr-1780	200	7	the	the	DET
cblr-1780	200	8	extent	extent	NOUN
cblr-1780	200	9	to	to	PART
cblr-1780	200	10	which	which	PRON
cblr-1780	200	11	political	political	ADJ
cblr-1780	200	12	spending	spending	NOUN
cblr-1780	200	13	,	,	PUNCT
cblr-1780	200	14	as	as	ADP
cblr-1780	200	15	with	with	ADP
cblr-1780	200	16	other	other	ADJ
cblr-1780	200	17	information	information	NOUN
cblr-1780	200	18	the	the	DET
cblr-1780	200	19	sec	sec	PROPN
cblr-1780	200	20	has	have	AUX
cblr-1780	200	21	previously	previously	ADV
cblr-1780	200	22	mandated	mandate	VERB
cblr-1780	200	23	disclosure	disclosure	NOUN
cblr-1780	200	24	of	of	ADP
cblr-1780	200	25	,	,	PUNCT
cblr-1780	200	26	is	be	AUX
cblr-1780	200	27	an	an	DET
cblr-1780	200	28	expenditure	expenditure	NOUN
cblr-1780	200	29	that	that	PRON
cblr-1780	200	30	can	can	AUX
cblr-1780	200	31	benefit	benefit	VERB
cblr-1780	200	32	firm	firm	ADJ
cblr-1780	200	33	insiders	insider	NOUN
cblr-1780	200	34	as	as	ADV
cblr-1780	200	35	much	much	ADV
cblr-1780	200	36	as	as	ADP
cblr-1780	200	37	or	or	CCONJ
cblr-1780	200	38	more	more	ADJ
cblr-1780	200	39	than	than	ADP
cblr-1780	200	40	shareholders.50	shareholders.50	PROPN
cblr-1780	200	41	second	second	NOUN
cblr-1780	200	42	,	,	PUNCT
cblr-1780	200	43	they	they	PRON
cblr-1780	200	44	observe	observe	VERB
cblr-1780	200	45	that	that	SCONJ
cblr-1780	200	46	investor	investor	NOUN
cblr-1780	200	47	interest	interest	NOUN
cblr-1780	200	48	in	in	ADP
cblr-1780	200	49	information	information	NOUN
cblr-1780	200	50	about	about	ADP
cblr-1780	200	51	political	political	ADJ
cblr-1780	200	52	spending	spending	NOUN
cblr-1780	200	53	by	by	ADP
cblr-1780	200	54	public	public	ADJ
cblr-1780	200	55	companies	company	NOUN
cblr-1780	200	56	is	be	AUX
cblr-1780	200	57	at	at	ADP
cblr-1780	200	58	least	least	ADJ
cblr-1780	200	59	as	as	ADV
cblr-1780	200	60	great	great	ADJ
cblr-1780	200	61	,	,	PUNCT
cblr-1780	200	62	if	if	SCONJ
cblr-1780	200	63	not	not	PART
cblr-1780	200	64	greater	great	ADJ
cblr-1780	200	65	than	than	ADP
cblr-1780	200	66	,	,	PUNCT
cblr-1780	200	67	the	the	DET
cblr-1780	200	68	level	level	NOUN
cblr-1780	200	69	of	of	ADP
cblr-1780	200	70	investor	investor	NOUN
cblr-1780	200	71	interest	interest	NOUN
cblr-1780	200	72	in	in	ADP
cblr-1780	200	73	other	other	ADJ
cblr-1780	200	74	information	information	NOUN
cblr-1780	200	75	that	that	PRON
cblr-1780	200	76	the	the	DET
cblr-1780	200	77	sec	sec	PROPN
cblr-1780	200	78	has	have	AUX
cblr-1780	200	79	required	require	VERB
cblr-1780	200	80	public	public	ADJ
cblr-1780	200	81	firms	firm	NOUN
cblr-1780	200	82	to	to	ADP
cblr-1780	200	83	disclose.51	disclose.51	NOUN
cblr-1780	200	84	there	there	PRON
cblr-1780	200	85	are	be	VERB
cblr-1780	200	86	,	,	PUNCT
cblr-1780	200	87	in	in	ADP
cblr-1780	200	88	turn	turn	NOUN
cblr-1780	200	89	,	,	PUNCT
cblr-1780	200	90	two	two	NUM
cblr-1780	200	91	categories	category	NOUN
cblr-1780	200	92	of	of	ADP
cblr-1780	200	93	information	information	NOUN
cblr-1780	200	94	that	that	PRON
cblr-1780	200	95	bebchuk	bebchuk	NOUN
cblr-1780	200	96	and	and	CCONJ
cblr-1780	200	97	jackson	jackson	PROPN
cblr-1780	200	98	highlight	highlight	PROPN
cblr-1780	200	99	as	as	ADP
cblr-1780	200	100	providing	provide	VERB
cblr-1780	200	101	an	an	DET
cblr-1780	200	102	especially	especially	ADV
cblr-1780	200	103	relevant	relevant	ADJ
cblr-1780	200	104	precedent	precedent	NOUN
cblr-1780	200	105	for	for	ADP
cblr-1780	200	106	the	the	DET
cblr-1780	200	107	mandatory	mandatory	ADJ
cblr-1780	200	108	disclosure	disclosure	NOUN
cblr-1780	200	109	of	of	ADP
cblr-1780	200	110	49	49	NUM
cblr-1780	200	111	see	see	NOUN
cblr-1780	200	112	infra	infra	NOUN
cblr-1780	200	113	part	part	NOUN
cblr-1780	200	114	ii.e	ii.e	ADV
cblr-1780	200	115	.	.	PUNCT
cblr-1780	201	1	50	50	NUM
cblr-1780	201	2	bebchuk	bebchuk	NOUN
cblr-1780	201	3	and	and	CCONJ
cblr-1780	201	4	jackson	jackson	PROPN
cblr-1780	201	5	write	write	VERB
cblr-1780	201	6	in	in	ADP
cblr-1780	201	7	who	who	PRON
cblr-1780	201	8	decides	decide	VERB
cblr-1780	201	9	that	that	DET
cblr-1780	201	10	political	political	ADJ
cblr-1780	201	11	spending	spending	NOUN
cblr-1780	201	12	decisions	decision	NOUN
cblr-1780	201	13	“	"	PUNCT
cblr-1780	201	14	may	may	AUX
cblr-1780	201	15	be	be	AUX
cblr-1780	201	16	a	a	DET
cblr-1780	201	17	product	product	NOUN
cblr-1780	201	18	not	not	PART
cblr-1780	201	19	merely	merely	ADV
cblr-1780	201	20	of	of	ADP
cblr-1780	201	21	a	a	DET
cblr-1780	201	22	business	business	NOUN
cblr-1780	201	23	judgment	judgment	NOUN
cblr-1780	201	24	regarding	regard	VERB
cblr-1780	201	25	the	the	DET
cblr-1780	201	26	firm	firm	NOUN
cblr-1780	201	27	’s	’s	PART
cblr-1780	201	28	strategy	strategy	NOUN
cblr-1780	201	29	,	,	PUNCT
cblr-1780	201	30	but	but	CCONJ
cblr-1780	201	31	also	also	ADV
cblr-1780	201	32	of	of	ADP
cblr-1780	201	33	the	the	DET
cblr-1780	201	34	directors	director	NOUN
cblr-1780	201	35	’	'	PUNCT
cblr-1780	201	36	and	and	CCONJ
cblr-1780	201	37	executives	executive	NOUN
cblr-1780	201	38	’	'	PUNCT
cblr-1780	201	39	own	own	ADJ
cblr-1780	201	40	political	political	ADJ
cblr-1780	201	41	preferences	preference	NOUN
cblr-1780	201	42	and	and	CCONJ
cblr-1780	201	43	beliefs	belief	NOUN
cblr-1780	201	44	.	.	PUNCT
cblr-1780	201	45	”	"	PUNCT
cblr-1780	202	1	see	see	VERB
cblr-1780	202	2	bebchuk	bebchuk	PROPN
cblr-1780	202	3	&	&	CCONJ
cblr-1780	202	4	jackson	jackson	PROPN
cblr-1780	202	5	,	,	PUNCT
cblr-1780	202	6	who	who	PRON
cblr-1780	202	7	decides	decide	VERB
cblr-1780	202	8	,	,	PUNCT
cblr-1780	202	9	supra	supra	PROPN
cblr-1780	202	10	note	note	NOUN
cblr-1780	202	11	23	23	NUM
cblr-1780	202	12	,	,	PUNCT
cblr-1780	202	13	at	at	ADP
cblr-1780	202	14	90	90	NUM
cblr-1780	202	15	.	.	PUNCT
cblr-1780	203	1	bebchuk	bebchuk	PROPN
cblr-1780	203	2	and	and	CCONJ
cblr-1780	203	3	jackson	jackson	PROPN
cblr-1780	203	4	also	also	ADV
cblr-1780	203	5	observe	observe	VERB
cblr-1780	203	6	that	that	SCONJ
cblr-1780	203	7	such	such	ADJ
cblr-1780	203	8	divergences	divergence	NOUN
cblr-1780	203	9	“	"	PUNCT
cblr-1780	203	10	may	may	AUX
cblr-1780	203	11	be	be	AUX
cblr-1780	203	12	particularly	particularly	ADV
cblr-1780	203	13	likely	likely	ADJ
cblr-1780	203	14	”	"	PUNCT
cblr-1780	203	15	in	in	ADP
cblr-1780	203	16	the	the	DET
cblr-1780	203	17	context	context	NOUN
cblr-1780	203	18	of	of	ADP
cblr-1780	203	19	“	"	PUNCT
cblr-1780	203	20	rules	rule	NOUN
cblr-1780	203	21	concerning	concern	VERB
cblr-1780	203	22	corporate	corporate	ADJ
cblr-1780	203	23	governance	governance	NOUN
cblr-1780	203	24	and	and	CCONJ
cblr-1780	203	25	shareholder	shareholder	NOUN
cblr-1780	203	26	rights	right	NOUN
cblr-1780	203	27	.	.	PUNCT
cblr-1780	203	28	”	"	PUNCT
cblr-1780	204	1	i	i	PRON
cblr-1780	204	2	d.	d.	VERB
cblr-1780	204	3	at	at	ADP
cblr-1780	204	4	91	91	NUM
cblr-1780	204	5	.	.	PUNCT
cblr-1780	205	1	51	51	NUM
cblr-1780	205	2	for	for	ADP
cblr-1780	205	3	more	more	ADV
cblr-1780	205	4	recent	recent	ADJ
cblr-1780	205	5	evidence	evidence	NOUN
cblr-1780	205	6	of	of	ADP
cblr-1780	205	7	investor	investor	NOUN
cblr-1780	205	8	interest	interest	NOUN
cblr-1780	205	9	in	in	ADP
cblr-1780	205	10	this	this	DET
cblr-1780	205	11	information	information	NOUN
cblr-1780	205	12	,	,	PUNCT
cblr-1780	205	13	see	see	VERB
cblr-1780	205	14	jason	jason	PROPN
cblr-1780	205	15	zweig	zweig	PROPN
cblr-1780	205	16	,	,	PUNCT
cblr-1780	205	17	corporate	corporate	ADJ
cblr-1780	205	18	political	political	ADJ
cblr-1780	205	19	gifts	gift	NOUN
cblr-1780	205	20	:	:	PUNCT
cblr-1780	205	21	count	count	VERB
cblr-1780	205	22	’em	’em	PRON
cblr-1780	205	23	if	if	SCONJ
cblr-1780	205	24	you	you	PRON
cblr-1780	205	25	can	can	AUX
cblr-1780	205	26	,	,	PUNCT
cblr-1780	206	1	wall	wall	PROPN
cblr-1780	206	2	st	st	PROPN
cblr-1780	206	3	.	.	PROPN
cblr-1780	206	4	j.	j.	PROPN
cblr-1780	206	5	,	,	PUNCT
cblr-1780	206	6	aug	aug	PROPN
cblr-1780	206	7	.	.	PROPN
cblr-1780	206	8	30–31	30–31	NUM
cblr-1780	206	9	,	,	PUNCT
cblr-1780	206	10	2014	2014	NUM
cblr-1780	206	11	,	,	PUNCT
cblr-1780	206	12	at	at	ADP
cblr-1780	206	13	b1	b1	NOUN
cblr-1780	206	14	.	.	PUNCT
cblr-1780	207	1	as	as	ADP
cblr-1780	207	2	a	a	DET
cblr-1780	207	3	general	general	ADJ
cblr-1780	207	4	matter	matter	NOUN
cblr-1780	207	5	,	,	PUNCT
cblr-1780	207	6	it	it	PRON
cblr-1780	207	7	is	be	AUX
cblr-1780	207	8	unclear	unclear	ADJ
cblr-1780	207	9	why	why	SCONJ
cblr-1780	207	10	investor	investor	NOUN
cblr-1780	207	11	interest	interest	NOUN
cblr-1780	207	12	alone	alone	ADV
cblr-1780	207	13	would	would	AUX
cblr-1780	207	14	be	be	AUX
cblr-1780	207	15	a	a	DET
cblr-1780	207	16	good	good	ADJ
cblr-1780	207	17	metric	metric	NOUN
cblr-1780	207	18	for	for	ADP
cblr-1780	207	19	determining	determine	VERB
cblr-1780	207	20	when	when	SCONJ
cblr-1780	207	21	information	information	NOUN
cblr-1780	207	22	should	should	AUX
cblr-1780	207	23	be	be	AUX
cblr-1780	207	24	subject	subject	ADJ
cblr-1780	207	25	to	to	ADP
cblr-1780	207	26	a	a	DET
cblr-1780	207	27	mandatory	mandatory	ADJ
cblr-1780	207	28	disclosure	disclosure	NOUN
cblr-1780	207	29	obligation	obligation	NOUN
cblr-1780	207	30	.	.	PUNCT
cblr-1780	208	1	among	among	ADP
cblr-1780	208	2	other	other	ADJ
cblr-1780	208	3	things	thing	NOUN
cblr-1780	208	4	,	,	PUNCT
cblr-1780	208	5	such	such	DET
cblr-1780	208	6	an	an	DET
cblr-1780	208	7	observation	observation	NOUN
cblr-1780	208	8	does	do	AUX
cblr-1780	208	9	not	not	PART
cblr-1780	208	10	address	address	VERB
cblr-1780	208	11	either	either	CCONJ
cblr-1780	208	12	the	the	DET
cblr-1780	208	13	costs	cost	NOUN
cblr-1780	208	14	of	of	ADP
cblr-1780	208	15	such	such	ADJ
cblr-1780	208	16	disclosures	disclosure	NOUN
cblr-1780	208	17	or	or	CCONJ
cblr-1780	208	18	why	why	SCONJ
cblr-1780	208	19	private	private	ADJ
cblr-1780	208	20	ordering	ordering	NOUN
cblr-1780	208	21	is	be	AUX
cblr-1780	208	22	inadequate	inadequate	ADJ
cblr-1780	208	23	.	.	PUNCT
cblr-1780	209	1	guttentag	guttentag	NOUN
cblr-1780	209	2	–	–	PUNCT
cblr-1780	209	3	final	final	ADJ
cblr-1780	209	4	608	608	NUM
cblr-1780	209	5	columbia	columbia	PROPN
cblr-1780	209	6	business	business	NOUN
cblr-1780	209	7	law	law	NOUN
cblr-1780	209	8	review	review	NOUN
cblr-1780	210	1	[	[	X
cblr-1780	210	2	vol	vol	NOUN
cblr-1780	210	3	.	.	NOUN
cblr-1780	210	4	2014	2014	NUM
cblr-1780	210	5	political	political	ADJ
cblr-1780	210	6	spending	spending	NOUN
cblr-1780	210	7	:	:	PUNCT
cblr-1780	210	8	information	information	NOUN
cblr-1780	210	9	about	about	ADP
cblr-1780	210	10	executive	executive	ADJ
cblr-1780	210	11	compensation	compensation	NOUN
cblr-1780	210	12	arrangements	arrangement	NOUN
cblr-1780	210	13	and	and	CCONJ
cblr-1780	210	14	information	information	NOUN
cblr-1780	210	15	about	about	ADP
cblr-1780	210	16	related	related	ADJ
cblr-1780	210	17	party	party	NOUN
cblr-1780	210	18	transactions.52	transactions.52	ADP
cblr-1780	210	19	the	the	DET
cblr-1780	210	20	bebchuk	bebchuk	NOUN
cblr-1780	210	21	and	and	CCONJ
cblr-1780	210	22	jackson	jackson	PROPN
cblr-1780	210	23	argument	argument	PROPN
cblr-1780	210	24	by	by	ADP
cblr-1780	210	25	analogy	analogy	NOUN
cblr-1780	210	26	for	for	ADP
cblr-1780	210	27	requiring	require	VERB
cblr-1780	210	28	the	the	DET
cblr-1780	210	29	disclosure	disclosure	NOUN
cblr-1780	210	30	of	of	ADP
cblr-1780	210	31	political	political	ADJ
cblr-1780	210	32	spending	spending	NOUN
cblr-1780	210	33	by	by	ADP
cblr-1780	210	34	public	public	ADJ
cblr-1780	210	35	companies	company	NOUN
cblr-1780	210	36	first	first	ADV
cblr-1780	210	37	appears	appear	VERB
cblr-1780	210	38	in	in	ADP
cblr-1780	210	39	who	who	PRON
cblr-1780	210	40	decides.53	decides.53	VERB
cblr-1780	210	41	in	in	ADP
cblr-1780	210	42	who	who	PRON
cblr-1780	210	43	decides	decide	VERB
cblr-1780	210	44	,	,	PUNCT
cblr-1780	210	45	bebchuk	bebchuk	PROPN
cblr-1780	210	46	and	and	CCONJ
cblr-1780	210	47	jackson	jackson	PROPN
cblr-1780	210	48	treat	treat	VERB
cblr-1780	210	49	the	the	DET
cblr-1780	210	50	benefits	benefit	NOUN
cblr-1780	210	51	of	of	ADP
cblr-1780	210	52	mandating	mandate	VERB
cblr-1780	210	53	disclosure	disclosure	NOUN
cblr-1780	210	54	of	of	ADP
cblr-1780	210	55	political	political	ADJ
cblr-1780	210	56	spending	spending	NOUN
cblr-1780	210	57	by	by	ADP
cblr-1780	210	58	public	public	ADJ
cblr-1780	210	59	companies	company	NOUN
cblr-1780	210	60	as	as	ADP
cblr-1780	210	61	sufficiently	sufficiently	ADV
cblr-1780	210	62	self	self	NOUN
cblr-1780	210	63	-	-	PUNCT
cblr-1780	210	64	evident	evident	ADJ
cblr-1780	210	65	as	as	SCONJ
cblr-1780	210	66	to	to	PART
cblr-1780	210	67	not	not	PART
cblr-1780	210	68	require	require	VERB
cblr-1780	210	69	detailed	detailed	ADJ
cblr-1780	210	70	consideration	consideration	NOUN
cblr-1780	210	71	.	.	PUNCT
cblr-1780	211	1	they	they	PRON
cblr-1780	211	2	write	write	VERB
cblr-1780	211	3	that	that	SCONJ
cblr-1780	211	4	“	"	PUNCT
cblr-1780	211	5	[	[	X
cblr-1780	211	6	e]ffective	e]ffective	ADJ
cblr-1780	211	7	disclosure	disclosure	NOUN
cblr-1780	211	8	should	should	AUX
cblr-1780	211	9	be	be	AUX
cblr-1780	211	10	supported	support	VERB
cblr-1780	211	11	even	even	ADV
cblr-1780	211	12	by	by	ADP
cblr-1780	211	13	those	those	PRON
cblr-1780	211	14	who	who	PRON
cblr-1780	211	15	are	be	AUX
cblr-1780	211	16	fully	fully	ADV
cblr-1780	211	17	content	content	ADJ
cblr-1780	211	18	with	with	ADP
cblr-1780	211	19	the	the	DET
cblr-1780	211	20	existing	exist	VERB
cblr-1780	211	21	‘	'	PUNCT
cblr-1780	211	22	procedures	procedure	NOUN
cblr-1780	211	23	of	of	ADP
cblr-1780	211	24	corporate	corporate	ADJ
cblr-1780	211	25	democracy	democracy	NOUN
cblr-1780	211	26	’	'	PUNCT
cblr-1780	211	27	under	under	ADP
cblr-1780	211	28	corporate	corporate	ADJ
cblr-1780	211	29	law	law	NOUN
cblr-1780	211	30	rules	rule	NOUN
cblr-1780	211	31	,	,	PUNCT
cblr-1780	211	32	as	as	SCONJ
cblr-1780	211	33	such	such	ADJ
cblr-1780	211	34	procedures	procedure	NOUN
cblr-1780	211	35	can	can	AUX
cblr-1780	211	36	not	not	PART
cblr-1780	211	37	be	be	AUX
cblr-1780	211	38	expected	expect	VERB
cblr-1780	211	39	to	to	PART
cblr-1780	211	40	have	have	VERB
cblr-1780	211	41	a	a	DET
cblr-1780	211	42	meaningful	meaningful	ADJ
cblr-1780	211	43	impact	impact	NOUN
cblr-1780	211	44	on	on	ADP
cblr-1780	211	45	political	political	ADJ
cblr-1780	211	46	speech	speech	NOUN
cblr-1780	211	47	decisions	decision	NOUN
cblr-1780	211	48	if	if	SCONJ
cblr-1780	211	49	shareholders	shareholder	NOUN
cblr-1780	211	50	are	be	AUX
cblr-1780	211	51	uninformed	uninformed	ADJ
cblr-1780	211	52	about	about	ADP
cblr-1780	211	53	the	the	DET
cblr-1780	211	54	corporation	corporation	NOUN
cblr-1780	211	55	’s	’s	PART
cblr-1780	211	56	political	political	ADJ
cblr-1780	211	57	spending	spending	NOUN
cblr-1780	211	58	.	.	PUNCT
cblr-1780	212	1	”54	”54	VERB
cblr-1780	212	2	the	the	DET
cblr-1780	212	3	argument	argument	NOUN
cblr-1780	212	4	by	by	ADP
cblr-1780	212	5	analogy	analogy	NOUN
cblr-1780	212	6	is	be	AUX
cblr-1780	212	7	developed	develop	VERB
cblr-1780	212	8	in	in	ADP
cblr-1780	212	9	slightly	slightly	ADV
cblr-1780	212	10	more	more	ADJ
cblr-1780	212	11	detail	detail	NOUN
cblr-1780	212	12	in	in	ADP
cblr-1780	212	13	the	the	DET
cblr-1780	212	14	bebchuk	bebchuk	NOUN
cblr-1780	212	15	petition	petition	NOUN
cblr-1780	212	16	.	.	PUNCT
cblr-1780	213	1	the	the	DET
cblr-1780	213	2	bebchuk	bebchuk	PROPN
cblr-1780	213	3	petition	petition	NOUN
cblr-1780	213	4	provides	provide	VERB
cblr-1780	213	5	evidence	evidence	NOUN
cblr-1780	213	6	of	of	ADP
cblr-1780	213	7	a	a	DET
cblr-1780	213	8	high	high	ADJ
cblr-1780	213	9	level	level	NOUN
cblr-1780	213	10	of	of	ADP
cblr-1780	213	11	investor	investor	NOUN
cblr-1780	213	12	interest	interest	NOUN
cblr-1780	213	13	in	in	ADP
cblr-1780	213	14	political	political	ADJ
cblr-1780	213	15	spending	spending	NOUN
cblr-1780	213	16	by	by	ADP
cblr-1780	213	17	companies55	companies55	NOUN
cblr-1780	213	18	and	and	CCONJ
cblr-1780	213	19	reviews	review	NOUN
cblr-1780	213	20	past	past	ADP
cblr-1780	213	21	examples	example	NOUN
cblr-1780	213	22	of	of	ADP
cblr-1780	213	23	situations	situation	NOUN
cblr-1780	213	24	in	in	ADP
cblr-1780	213	25	which	which	PRON
cblr-1780	213	26	the	the	DET
cblr-1780	213	27	sec	sec	PROPN
cblr-1780	213	28	relied	rely	VERB
cblr-1780	213	29	upon	upon	SCONJ
cblr-1780	213	30	indications	indication	NOUN
cblr-1780	213	31	of	of	ADP
cblr-1780	213	32	investor	investor	NOUN
cblr-1780	213	33	interest	interest	NOUN
cblr-1780	213	34	to	to	PART
cblr-1780	213	35	determine	determine	VERB
cblr-1780	213	36	what	what	PRON
cblr-1780	213	37	public	public	ADJ
cblr-1780	213	38	companies	company	NOUN
cblr-1780	213	39	should	should	AUX
cblr-1780	213	40	52	52	NUM
cblr-1780	213	41	according	accord	VERB
cblr-1780	213	42	to	to	ADP
cblr-1780	213	43	bebchuk	bebchuk	NOUN
cblr-1780	213	44	and	and	CCONJ
cblr-1780	213	45	jackson	jackson	PROPN
cblr-1780	213	46	,	,	PUNCT
cblr-1780	213	47	where	where	SCONJ
cblr-1780	213	48	“	"	PUNCT
cblr-1780	213	49	the	the	DET
cblr-1780	213	50	interests	interest	NOUN
cblr-1780	213	51	of	of	ADP
cblr-1780	213	52	directors	director	NOUN
cblr-1780	213	53	and	and	CCONJ
cblr-1780	213	54	executives	executive	NOUN
cblr-1780	213	55	diverge	diverge	VERB
cblr-1780	213	56	from	from	ADP
cblr-1780	213	57	those	those	PRON
cblr-1780	213	58	of	of	ADP
cblr-1780	213	59	shareholders	shareholder	NOUN
cblr-1780	213	60	with	with	ADP
cblr-1780	213	61	sufficient	sufficient	ADJ
cblr-1780	213	62	regularity	regularity	NOUN
cblr-1780	213	63	and	and	CCONJ
cblr-1780	213	64	magnitude	magnitude	NOUN
cblr-1780	213	65	,	,	PUNCT
cblr-1780	213	66	”	"	PUNCT
cblr-1780	213	67	the	the	DET
cblr-1780	213	68	types	type	NOUN
cblr-1780	213	69	of	of	ADP
cblr-1780	213	70	“	"	PUNCT
cblr-1780	213	71	special	special	ADJ
cblr-1780	213	72	[	[	X
cblr-1780	213	73	disclosure	disclosure	NOUN
cblr-1780	213	74	]	]	PUNCT
cblr-1780	213	75	requirements	requirement	NOUN
cblr-1780	213	76	”	"	PUNCT
cblr-1780	213	77	associated	associate	VERB
cblr-1780	213	78	,	,	PUNCT
cblr-1780	213	79	for	for	ADP
cblr-1780	213	80	example	example	NOUN
cblr-1780	213	81	,	,	PUNCT
cblr-1780	213	82	with	with	ADP
cblr-1780	213	83	“	"	PUNCT
cblr-1780	213	84	decisions	decision	NOUN
cblr-1780	213	85	related	relate	VERB
cblr-1780	213	86	to	to	ADP
cblr-1780	213	87	executive	executive	ADJ
cblr-1780	213	88	compensation	compensation	NOUN
cblr-1780	213	89	”	"	PUNCT
cblr-1780	213	90	should	should	AUX
cblr-1780	213	91	be	be	AUX
cblr-1780	213	92	applied	apply	VERB
cblr-1780	213	93	.	.	PUNCT
cblr-1780	214	1	bebchuk	bebchuk	PROPN
cblr-1780	214	2	&	&	CCONJ
cblr-1780	214	3	jackson	jackson	PROPN
cblr-1780	214	4	,	,	PUNCT
cblr-1780	214	5	who	who	PRON
cblr-1780	214	6	decides	decide	VERB
cblr-1780	214	7	,	,	PUNCT
cblr-1780	214	8	supra	supra	PROPN
cblr-1780	214	9	note	note	NOUN
cblr-1780	214	10	23	23	NUM
cblr-1780	214	11	,	,	PUNCT
cblr-1780	214	12	at	at	ADP
cblr-1780	214	13	90	90	NUM
cblr-1780	214	14	;	;	PUNCT
cblr-1780	214	15	see	see	VERB
cblr-1780	214	16	also	also	ADV
cblr-1780	214	17	i	i	PROPN
cblr-1780	214	18	d.	d.	PROPN
cblr-1780	214	19	at	at	ADP
cblr-1780	214	20	93	93	NUM
cblr-1780	214	21	.	.	PUNCT
cblr-1780	215	1	53	53	NUM
cblr-1780	215	2	i	i	PROPN
cblr-1780	215	3	d.	d.	PROPN
cblr-1780	215	4	at	at	ADP
cblr-1780	215	5	96–97	96–97	NUM
cblr-1780	215	6	.	.	PUNCT
cblr-1780	216	1	54	54	NUM
cblr-1780	217	1	i	i	PRON
cblr-1780	217	2	d.	d.	VERB
cblr-1780	217	3	at	at	ADP
cblr-1780	217	4	105	105	NUM
cblr-1780	217	5	.	.	PUNCT
cblr-1780	218	1	55	55	NUM
cblr-1780	218	2	evidence	evidence	NOUN
cblr-1780	218	3	of	of	ADP
cblr-1780	218	4	investor	investor	NOUN
cblr-1780	218	5	interest	interest	NOUN
cblr-1780	218	6	in	in	ADP
cblr-1780	218	7	the	the	DET
cblr-1780	218	8	bebchuk	bebchuk	NOUN
cblr-1780	218	9	petition	petition	NOUN
cblr-1780	218	10	includes	include	VERB
cblr-1780	218	11	:	:	PUNCT
cblr-1780	218	12	(	(	PUNCT
cblr-1780	218	13	1	1	X
cblr-1780	218	14	)	)	PUNCT
cblr-1780	218	15	polls	poll	NOUN
cblr-1780	218	16	of	of	ADP
cblr-1780	218	17	shareholders	shareholder	NOUN
cblr-1780	218	18	about	about	ADP
cblr-1780	218	19	their	their	PRON
cblr-1780	218	20	level	level	NOUN
cblr-1780	218	21	of	of	ADP
cblr-1780	218	22	interest	interest	NOUN
cblr-1780	218	23	in	in	ADP
cblr-1780	218	24	such	such	ADJ
cblr-1780	218	25	spending	spending	NOUN
cblr-1780	218	26	,	,	PUNCT
cblr-1780	218	27	(	(	PUNCT
cblr-1780	218	28	2	2	X
cblr-1780	218	29	)	)	PUNCT
cblr-1780	218	30	shareholder	shareholder	NOUN
cblr-1780	218	31	proposals	proposal	NOUN
cblr-1780	218	32	offered	offer	VERB
cblr-1780	218	33	in	in	ADP
cblr-1780	218	34	support	support	NOUN
cblr-1780	218	35	of	of	ADP
cblr-1780	218	36	political	political	ADJ
cblr-1780	218	37	spending	spending	NOUN
cblr-1780	218	38	disclosure	disclosure	NOUN
cblr-1780	218	39	,	,	PUNCT
cblr-1780	218	40	and	and	CCONJ
cblr-1780	218	41	(	(	PUNCT
cblr-1780	218	42	3	3	X
cblr-1780	218	43	)	)	PUNCT
cblr-1780	218	44	indications	indication	NOUN
cblr-1780	218	45	of	of	ADP
cblr-1780	218	46	interest	interest	NOUN
cblr-1780	218	47	from	from	ADP
cblr-1780	218	48	large	large	ADJ
cblr-1780	218	49	institutional	institutional	ADJ
cblr-1780	218	50	shareholders	shareholder	NOUN
cblr-1780	218	51	in	in	ADP
cblr-1780	218	52	information	information	NOUN
cblr-1780	218	53	about	about	ADP
cblr-1780	218	54	political	political	ADJ
cblr-1780	218	55	spending	spending	NOUN
cblr-1780	218	56	by	by	ADP
cblr-1780	218	57	public	public	ADJ
cblr-1780	218	58	firms	firm	NOUN
cblr-1780	218	59	.	.	PUNCT
cblr-1780	219	1	bebchuk	bebchuk	PROPN
cblr-1780	219	2	petition	petition	PROPN
cblr-1780	219	3	,	,	PUNCT
cblr-1780	219	4	supra	supra	PROPN
cblr-1780	219	5	note	note	NOUN
cblr-1780	219	6	4	4	NUM
cblr-1780	219	7	,	,	PUNCT
cblr-1780	219	8	at	at	ADP
cblr-1780	219	9	3–6	3–6	NUM
cblr-1780	219	10	.	.	PUNCT
cblr-1780	220	1	but	but	CCONJ
cblr-1780	220	2	see	see	VERB
cblr-1780	220	3	angel	angel	NOUN
cblr-1780	220	4	letter	letter	NOUN
cblr-1780	220	5	,	,	PUNCT
cblr-1780	220	6	supra	supra	PROPN
cblr-1780	220	7	note	note	PROPN
cblr-1780	220	8	28	28	NUM
cblr-1780	220	9	,	,	PUNCT
cblr-1780	220	10	at	at	ADP
cblr-1780	220	11	4–5	4–5	PROPN
cblr-1780	220	12	(	(	PUNCT
cblr-1780	220	13	observing	observe	VERB
cblr-1780	220	14	that	that	SCONJ
cblr-1780	220	15	some	some	PRON
cblr-1780	220	16	of	of	ADP
cblr-1780	220	17	the	the	DET
cblr-1780	220	18	data	datum	NOUN
cblr-1780	220	19	regarding	regard	VERB
cblr-1780	220	20	investor	investor	NOUN
cblr-1780	220	21	interest	interest	NOUN
cblr-1780	220	22	in	in	ADP
cblr-1780	220	23	political	political	ADJ
cblr-1780	220	24	spending	spending	NOUN
cblr-1780	220	25	by	by	ADP
cblr-1780	220	26	public	public	ADJ
cblr-1780	220	27	corporations	corporation	NOUN
cblr-1780	220	28	is	be	AUX
cblr-1780	220	29	indicative	indicative	ADJ
cblr-1780	220	30	of	of	ADP
cblr-1780	220	31	interest	interest	NOUN
cblr-1780	220	32	in	in	ADP
cblr-1780	220	33	political	political	ADJ
cblr-1780	220	34	spending	spending	NOUN
cblr-1780	220	35	by	by	ADP
cblr-1780	220	36	corporations	corporation	NOUN
cblr-1780	220	37	generally	generally	ADV
cblr-1780	220	38	—	—	PUNCT
cblr-1780	220	39	not	not	PART
cblr-1780	220	40	just	just	ADV
cblr-1780	220	41	corporations	corporation	NOUN
cblr-1780	220	42	that	that	PRON
cblr-1780	220	43	are	be	AUX
cblr-1780	220	44	public	public	ADJ
cblr-1780	220	45	)	)	PUNCT
cblr-1780	220	46	.	.	PUNCT
cblr-1780	221	1	guttentag	guttentag	NOUN
cblr-1780	221	2	–	–	PUNCT
cblr-1780	221	3	final	final	ADJ
cblr-1780	221	4	no	no	NOUN
cblr-1780	221	5	.	.	PUNCT
cblr-1780	222	1	3:593	3:593	NUM
cblr-1780	222	2	]	]	PUNCT
cblr-1780	222	3	on	on	ADP
cblr-1780	222	4	political	political	ADJ
cblr-1780	222	5	spending	spending	NOUN
cblr-1780	222	6	disclosure	disclosure	NOUN
cblr-1780	222	7	609	609	NUM
cblr-1780	222	8	be	be	AUX
cblr-1780	222	9	required	require	VERB
cblr-1780	222	10	to	to	PART
cblr-1780	222	11	disclose.56	disclose.56	VERB
cblr-1780	222	12	the	the	DET
cblr-1780	222	13	bebchuk	bebchuk	NOUN
cblr-1780	222	14	petition	petition	NOUN
cblr-1780	222	15	explains	explain	VERB
cblr-1780	222	16	that	that	SCONJ
cblr-1780	222	17	“	"	PUNCT
cblr-1780	222	18	the	the	DET
cblr-1780	222	19	commission	commission	NOUN
cblr-1780	222	20	’s	’s	PART
cblr-1780	222	21	disclosure	disclosure	NOUN
cblr-1780	222	22	rules	rule	NOUN
cblr-1780	222	23	have	have	AUX
cblr-1780	222	24	changed	change	VERB
cblr-1780	222	25	in	in	ADP
cblr-1780	222	26	response	response	NOUN
cblr-1780	222	27	to	to	ADP
cblr-1780	222	28	increased	increase	VERB
cblr-1780	222	29	investor	investor	NOUN
cblr-1780	222	30	interest	interest	NOUN
cblr-1780	222	31	in	in	ADP
cblr-1780	222	32	receiving	receive	VERB
cblr-1780	222	33	particular	particular	ADJ
cblr-1780	222	34	types	type	NOUN
cblr-1780	222	35	of	of	ADP
cblr-1780	222	36	information	information	NOUN
cblr-1780	222	37	about	about	ADP
cblr-1780	222	38	the	the	DET
cblr-1780	222	39	companies	company	NOUN
cblr-1780	222	40	they	they	PRON
cblr-1780	222	41	invest	invest	VERB
cblr-1780	222	42	in	in	ADP
cblr-1780	222	43	,	,	PUNCT
cblr-1780	222	44	changes	change	NOUN
cblr-1780	222	45	in	in	ADP
cblr-1780	222	46	disclosure	disclosure	NOUN
cblr-1780	222	47	practices	practice	NOUN
cblr-1780	222	48	,	,	PUNCT
cblr-1780	222	49	or	or	CCONJ
cblr-1780	222	50	external	external	ADJ
cblr-1780	222	51	events	event	NOUN
cblr-1780	222	52	that	that	PRON
cblr-1780	222	53	increase	increase	VERB
cblr-1780	222	54	the	the	DET
cblr-1780	222	55	importance	importance	NOUN
cblr-1780	222	56	of	of	ADP
cblr-1780	222	57	certain	certain	ADJ
cblr-1780	222	58	types	type	NOUN
cblr-1780	222	59	of	of	ADP
cblr-1780	222	60	information	information	NOUN
cblr-1780	222	61	for	for	ADP
cblr-1780	222	62	shareholders	shareholder	NOUN
cblr-1780	222	63	.	.	PUNCT
cblr-1780	223	1	”57	”57	PROPN
cblr-1780	223	2	based	base	VERB
cblr-1780	223	3	on	on	ADP
cblr-1780	223	4	this	this	DET
cblr-1780	223	5	past	past	ADJ
cblr-1780	223	6	practice	practice	NOUN
cblr-1780	223	7	,	,	PUNCT
cblr-1780	223	8	the	the	DET
cblr-1780	223	9	bebchuk	bebchuk	NOUN
cblr-1780	223	10	petition	petition	NOUN
cblr-1780	223	11	concludes	conclude	VERB
cblr-1780	223	12	that	that	SCONJ
cblr-1780	223	13	a	a	DET
cblr-1780	223	14	high	high	ADJ
cblr-1780	223	15	level	level	NOUN
cblr-1780	223	16	of	of	ADP
cblr-1780	223	17	investor	investor	NOUN
cblr-1780	223	18	interest	interest	NOUN
cblr-1780	223	19	in	in	ADP
cblr-1780	223	20	public	public	ADJ
cblr-1780	223	21	company	company	NOUN
cblr-1780	223	22	political	political	ADJ
cblr-1780	223	23	spending	spending	NOUN
cblr-1780	223	24	justifies	justify	VERB
cblr-1780	223	25	requiring	require	VERB
cblr-1780	223	26	the	the	DET
cblr-1780	223	27	disclosure	disclosure	NOUN
cblr-1780	223	28	of	of	ADP
cblr-1780	223	29	this	this	DET
cblr-1780	223	30	information.58	information.58	NOUN
cblr-1780	223	31	in	in	ADP
cblr-1780	223	32	shining	shine	VERB
cblr-1780	223	33	light	light	NOUN
cblr-1780	223	34	,	,	PUNCT
cblr-1780	223	35	bebchuk	bebchuk	PROPN
cblr-1780	223	36	and	and	CCONJ
cblr-1780	223	37	jackson	jackson	PROPN
cblr-1780	223	38	continue	continue	VERB
cblr-1780	223	39	the	the	DET
cblr-1780	223	40	argument	argument	NOUN
cblr-1780	223	41	by	by	ADP
cblr-1780	223	42	analogy	analogy	NOUN
cblr-1780	223	43	for	for	ADP
cblr-1780	223	44	requiring	require	VERB
cblr-1780	223	45	public	public	ADJ
cblr-1780	223	46	companies	company	NOUN
cblr-1780	223	47	to	to	PART
cblr-1780	223	48	disclose	disclose	VERB
cblr-1780	223	49	political	political	ADJ
cblr-1780	223	50	spending	spending	NOUN
cblr-1780	223	51	.	.	PUNCT
cblr-1780	224	1	bebchuk	bebchuk	PROPN
cblr-1780	224	2	and	and	CCONJ
cblr-1780	224	3	jackson	jackson	PROPN
cblr-1780	224	4	note	note	VERB
cblr-1780	224	5	that	that	SCONJ
cblr-1780	224	6	,	,	PUNCT
cblr-1780	224	7	unlike	unlike	ADP
cblr-1780	224	8	many	many	ADJ
cblr-1780	224	9	other	other	ADJ
cblr-1780	224	10	business	business	NOUN
cblr-1780	224	11	decisions	decision	NOUN
cblr-1780	224	12	,	,	PUNCT
cblr-1780	224	13	political	political	ADJ
cblr-1780	224	14	spending	spending	NOUN
cblr-1780	224	15	is	be	AUX
cblr-1780	224	16	apt	apt	ADJ
cblr-1780	224	17	to	to	PART
cblr-1780	224	18	be	be	AUX
cblr-1780	224	19	an	an	DET
cblr-1780	224	20	area	area	NOUN
cblr-1780	224	21	in	in	ADP
cblr-1780	224	22	which	which	PRON
cblr-1780	224	23	the	the	DET
cblr-1780	224	24	interests	interest	NOUN
cblr-1780	224	25	of	of	ADP
cblr-1780	224	26	directors	director	NOUN
cblr-1780	224	27	and	and	CCONJ
cblr-1780	224	28	officers	officer	NOUN
cblr-1780	224	29	systematically	systematically	ADV
cblr-1780	224	30	diverge	diverge	VERB
cblr-1780	224	31	from	from	ADP
cblr-1780	224	32	the	the	DET
cblr-1780	224	33	interests	interest	NOUN
cblr-1780	224	34	of	of	ADP
cblr-1780	224	35	other	other	ADJ
cblr-1780	224	36	shareholders	shareholder	NOUN
cblr-1780	224	37	because	because	SCONJ
cblr-1780	224	38	“	"	PUNCT
cblr-1780	224	39	corporate	corporate	ADJ
cblr-1780	224	40	political	political	ADJ
cblr-1780	224	41	spending	spending	NOUN
cblr-1780	224	42	may	may	AUX
cblr-1780	224	43	reflect	reflect	VERB
cblr-1780	224	44	not	not	PART
cblr-1780	224	45	only	only	ADV
cblr-1780	224	46	directors	director	NOUN
cblr-1780	224	47	’	'	PUNCT
cblr-1780	224	48	and	and	CCONJ
cblr-1780	224	49	executives	executive	NOUN
cblr-1780	224	50	’	’	PART
cblr-1780	224	51	business	business	NOUN
cblr-1780	224	52	judgment	judgment	NOUN
cblr-1780	224	53	,	,	PUNCT
cblr-1780	224	54	but	but	CCONJ
cblr-1780	224	55	also	also	ADV
cblr-1780	224	56	their	their	PRON
cblr-1780	224	57	political	political	ADJ
cblr-1780	224	58	preferences	preference	NOUN
cblr-1780	224	59	.	.	PUNCT
cblr-1780	225	1	”59	”59	ADJ
cblr-1780	225	2	shining	shine	VERB
cblr-1780	225	3	light	light	NOUN
cblr-1780	225	4	also	also	ADV
cblr-1780	225	5	highlights	highlight	VERB
cblr-1780	225	6	several	several	ADJ
cblr-1780	225	7	similarities	similarity	NOUN
cblr-1780	225	8	between	between	ADP
cblr-1780	225	9	political	political	ADJ
cblr-1780	225	10	spending	spending	NOUN
cblr-1780	225	11	56	56	NUM
cblr-1780	225	12	among	among	ADP
cblr-1780	225	13	the	the	DET
cblr-1780	225	14	past	past	ADJ
cblr-1780	225	15	examples	example	NOUN
cblr-1780	225	16	reviewed	review	VERB
cblr-1780	225	17	in	in	ADP
cblr-1780	225	18	the	the	DET
cblr-1780	225	19	bebchuk	bebchuk	NOUN
cblr-1780	225	20	petition	petition	NOUN
cblr-1780	225	21	are	be	AUX
cblr-1780	225	22	the	the	DET
cblr-1780	225	23	decisions	decision	NOUN
cblr-1780	225	24	to	to	PART
cblr-1780	225	25	mandate	mandate	VERB
cblr-1780	225	26	additional	additional	ADJ
cblr-1780	225	27	disclosure	disclosure	NOUN
cblr-1780	225	28	related	relate	VERB
cblr-1780	225	29	to	to	ADP
cblr-1780	225	30	executive	executive	ADJ
cblr-1780	225	31	compensation	compensation	NOUN
cblr-1780	225	32	arrangements	arrangement	NOUN
cblr-1780	225	33	and	and	CCONJ
cblr-1780	225	34	to	to	PART
cblr-1780	225	35	mandate	mandate	VERB
cblr-1780	225	36	disclosure	disclosure	NOUN
cblr-1780	225	37	about	about	ADP
cblr-1780	225	38	director	director	NOUN
cblr-1780	225	39	oversight	oversight	NOUN
cblr-1780	225	40	of	of	ADP
cblr-1780	225	41	a	a	DET
cblr-1780	225	42	firm	firm	NOUN
cblr-1780	225	43	’s	’s	PART
cblr-1780	225	44	risk	risk	NOUN
cblr-1780	225	45	-	-	PUNCT
cblr-1780	225	46	taking	take	VERB
cblr-1780	225	47	activities	activity	NOUN
cblr-1780	225	48	.	.	PUNCT
cblr-1780	226	1	see	see	VERB
cblr-1780	226	2	bebchuk	bebchuk	NOUN
cblr-1780	226	3	petition	petition	PROPN
cblr-1780	226	4	,	,	PUNCT
cblr-1780	226	5	supra	supra	PROPN
cblr-1780	226	6	note	note	PROPN
cblr-1780	226	7	4	4	NUM
cblr-1780	226	8	,	,	PUNCT
cblr-1780	226	9	at	at	ADP
cblr-1780	226	10	2–3	2–3	NUM
cblr-1780	226	11	.	.	NOUN
cblr-1780	226	12	57	57	NUM
cblr-1780	226	13	i	i	PRON
cblr-1780	226	14	d.	d.	PROPN
cblr-1780	226	15	at	at	ADP
cblr-1780	226	16	2	2	NUM
cblr-1780	226	17	.	.	NUM
cblr-1780	226	18	58	58	NUM
cblr-1780	227	1	i	i	PRON
cblr-1780	227	2	d.	d.	PROPN
cblr-1780	227	3	the	the	DET
cblr-1780	227	4	bebchuk	bebchuk	PROPN
cblr-1780	227	5	petition	petition	NOUN
cblr-1780	227	6	also	also	ADV
cblr-1780	227	7	observes	observe	VERB
cblr-1780	227	8	that	that	SCONJ
cblr-1780	227	9	disclosure	disclosure	NOUN
cblr-1780	227	10	of	of	ADP
cblr-1780	227	11	political	political	ADJ
cblr-1780	227	12	spending	spending	NOUN
cblr-1780	227	13	is	be	AUX
cblr-1780	227	14	a	a	DET
cblr-1780	227	15	necessary	necessary	ADJ
cblr-1780	227	16	prerequisite	prerequisite	NOUN
cblr-1780	227	17	for	for	ADP
cblr-1780	227	18	the	the	DET
cblr-1780	227	19	type	type	NOUN
cblr-1780	227	20	of	of	ADP
cblr-1780	227	21	shareholder	shareholder	NOUN
cblr-1780	227	22	monitoring	monitoring	NOUN
cblr-1780	227	23	that	that	SCONJ
cblr-1780	227	24	the	the	DET
cblr-1780	227	25	court	court	NOUN
cblr-1780	227	26	suggested	suggest	VERB
cblr-1780	227	27	in	in	ADP
cblr-1780	227	28	the	the	DET
cblr-1780	227	29	citizens	citizen	NOUN
cblr-1780	227	30	united	united	PROPN
cblr-1780	227	31	opinion	opinion	PROPN
cblr-1780	227	32	.	.	PUNCT
cblr-1780	228	1	i	i	PRON
cblr-1780	228	2	d.	d.	PROPN
cblr-1780	228	3	at	at	ADP
cblr-1780	228	4	7	7	NUM
cblr-1780	228	5	.	.	PUNCT
cblr-1780	229	1	however	however	ADV
cblr-1780	229	2	,	,	PUNCT
cblr-1780	229	3	it	it	PRON
cblr-1780	229	4	is	be	AUX
cblr-1780	229	5	unclear	unclear	ADJ
cblr-1780	229	6	why	why	SCONJ
cblr-1780	229	7	the	the	DET
cblr-1780	229	8	court	court	NOUN
cblr-1780	229	9	’s	’	VERB
cblr-1780	229	10	dicta	dicta	ADV
cblr-1780	229	11	in	in	ADP
cblr-1780	229	12	citizens	citizen	NOUN
cblr-1780	229	13	united	unite	VERB
cblr-1780	229	14	about	about	ADP
cblr-1780	229	15	how	how	SCONJ
cblr-1780	229	16	corporate	corporate	ADJ
cblr-1780	229	17	political	political	ADJ
cblr-1780	229	18	spending	spending	NOUN
cblr-1780	229	19	might	might	AUX
cblr-1780	229	20	be	be	AUX
cblr-1780	229	21	constrained	constrain	VERB
cblr-1780	229	22	should	should	AUX
cblr-1780	229	23	be	be	AUX
cblr-1780	229	24	accepted	accept	VERB
cblr-1780	229	25	as	as	ADP
cblr-1780	229	26	an	an	DET
cblr-1780	229	27	accurate	accurate	ADJ
cblr-1780	229	28	description	description	NOUN
cblr-1780	229	29	of	of	ADP
cblr-1780	229	30	what	what	PRON
cblr-1780	229	31	the	the	DET
cblr-1780	229	32	law	law	NOUN
cblr-1780	229	33	of	of	ADP
cblr-1780	229	34	corporate	corporate	ADJ
cblr-1780	229	35	governance	governance	NOUN
cblr-1780	229	36	is	be	AUX
cblr-1780	229	37	or	or	CCONJ
cblr-1780	229	38	should	should	AUX
cblr-1780	229	39	be	be	AUX
cblr-1780	229	40	with	with	ADP
cblr-1780	229	41	respect	respect	NOUN
cblr-1780	229	42	to	to	ADP
cblr-1780	229	43	this	this	DET
cblr-1780	229	44	activity	activity	NOUN
cblr-1780	229	45	.	.	PUNCT
cblr-1780	230	1	furthermore	furthermore	ADV
cblr-1780	230	2	,	,	PUNCT
cblr-1780	230	3	the	the	DET
cblr-1780	230	4	bebchuk	bebchuk	NOUN
cblr-1780	230	5	petition	petition	NOUN
cblr-1780	230	6	cites	cite	VERB
cblr-1780	230	7	who	who	PRON
cblr-1780	230	8	decides	decide	VERB
cblr-1780	230	9	to	to	PART
cblr-1780	230	10	support	support	VERB
cblr-1780	230	11	the	the	DET
cblr-1780	230	12	assertion	assertion	NOUN
cblr-1780	230	13	that	that	SCONJ
cblr-1780	230	14	a	a	DET
cblr-1780	230	15	political	political	ADJ
cblr-1780	230	16	spending	spending	NOUN
cblr-1780	230	17	disclosure	disclosure	NOUN
cblr-1780	230	18	requirement	requirement	NOUN
cblr-1780	230	19	would	would	AUX
cblr-1780	230	20	benefit	benefit	VERB
cblr-1780	230	21	shareholders	shareholder	NOUN
cblr-1780	230	22	,	,	PUNCT
cblr-1780	230	23	but	but	CCONJ
cblr-1780	230	24	the	the	DET
cblr-1780	230	25	discussion	discussion	NOUN
cblr-1780	230	26	in	in	ADP
cblr-1780	230	27	who	who	PRON
cblr-1780	230	28	decides	decide	VERB
cblr-1780	230	29	did	do	AUX
cblr-1780	230	30	not	not	PART
cblr-1780	230	31	include	include	VERB
cblr-1780	230	32	analytic	analytic	ADJ
cblr-1780	230	33	support	support	NOUN
cblr-1780	230	34	for	for	ADP
cblr-1780	230	35	the	the	DET
cblr-1780	230	36	claim	claim	NOUN
cblr-1780	230	37	that	that	SCONJ
cblr-1780	230	38	political	political	ADJ
cblr-1780	230	39	spending	spending	NOUN
cblr-1780	230	40	should	should	AUX
cblr-1780	230	41	be	be	AUX
cblr-1780	230	42	disclosed	disclose	VERB
cblr-1780	230	43	.	.	PUNCT
cblr-1780	231	1	see	see	VERB
cblr-1780	231	2	bebchuk	bebchuk	PROPN
cblr-1780	231	3	petition	petition	PROPN
cblr-1780	231	4	,	,	PUNCT
cblr-1780	231	5	supra	supra	PROPN
cblr-1780	231	6	note	note	NOUN
cblr-1780	231	7	4	4	NUM
cblr-1780	231	8	,	,	PUNCT
cblr-1780	231	9	at	at	ADP
cblr-1780	231	10	7	7	NUM
cblr-1780	231	11	(	(	PUNCT
cblr-1780	231	12	citing	cite	VERB
cblr-1780	231	13	bebchuk	bebchuk	PROPN
cblr-1780	231	14	&	&	CCONJ
cblr-1780	231	15	jackson	jackson	PROPN
cblr-1780	231	16	,	,	PUNCT
cblr-1780	231	17	who	who	PRON
cblr-1780	231	18	decides	decide	VERB
cblr-1780	231	19	,	,	PUNCT
cblr-1780	231	20	supra	supra	PROPN
cblr-1780	231	21	note	note	NOUN
cblr-1780	231	22	23	23	NUM
cblr-1780	231	23	,	,	PUNCT
cblr-1780	231	24	at	at	ADP
cblr-1780	231	25	97	97	NUM
cblr-1780	231	26	)	)	PUNCT
cblr-1780	231	27	(	(	PUNCT
cblr-1780	231	28	but	but	CCONJ
cblr-1780	231	29	discussion	discussion	NOUN
cblr-1780	231	30	of	of	ADP
cblr-1780	231	31	the	the	DET
cblr-1780	231	32	efficacy	efficacy	NOUN
cblr-1780	231	33	of	of	ADP
cblr-1780	231	34	disclosure	disclosure	NOUN
cblr-1780	231	35	actually	actually	ADV
cblr-1780	231	36	appears	appear	VERB
cblr-1780	231	37	on	on	ADP
cblr-1780	231	38	pages	page	NOUN
cblr-1780	231	39	104	104	NUM
cblr-1780	231	40	to	to	ADP
cblr-1780	231	41	107	107	NUM
cblr-1780	231	42	of	of	ADP
cblr-1780	231	43	who	who	PRON
cblr-1780	231	44	decides	decide	VERB
cblr-1780	231	45	)	)	PUNCT
cblr-1780	231	46	.	.	PUNCT
cblr-1780	232	1	59	59	NUM
cblr-1780	232	2	see	see	VERB
cblr-1780	232	3	bebchuk	bebchuk	PROPN
cblr-1780	232	4	&	&	CCONJ
cblr-1780	232	5	jackson	jackson	PROPN
cblr-1780	232	6	,	,	PUNCT
cblr-1780	232	7	shining	shine	VERB
cblr-1780	232	8	light	light	NOUN
cblr-1780	232	9	,	,	PUNCT
cblr-1780	232	10	supra	supra	PROPN
cblr-1780	232	11	note	note	NOUN
cblr-1780	232	12	27	27	NUM
cblr-1780	232	13	,	,	PUNCT
cblr-1780	232	14	at	at	ADP
cblr-1780	232	15	942	942	NUM
cblr-1780	232	16	.	.	PUNCT
cblr-1780	233	1	guttentag	guttentag	NOUN
cblr-1780	233	2	–	–	PUNCT
cblr-1780	233	3	final	final	ADJ
cblr-1780	233	4	610	610	NUM
cblr-1780	233	5	columbia	columbia	PROPN
cblr-1780	233	6	business	business	NOUN
cblr-1780	233	7	law	law	PROPN
cblr-1780	233	8	review	review	NOUN
cblr-1780	233	9	[	[	X
cblr-1780	233	10	vol	vol	NOUN
cblr-1780	233	11	.	.	PUNCT
cblr-1780	233	12	2014	2014	NUM
cblr-1780	233	13	and	and	CCONJ
cblr-1780	233	14	other	other	ADJ
cblr-1780	233	15	types	type	NOUN
cblr-1780	233	16	of	of	ADP
cblr-1780	233	17	expenditures	expenditure	NOUN
cblr-1780	233	18	where	where	SCONJ
cblr-1780	233	19	a	a	DET
cblr-1780	233	20	conflict	conflict	NOUN
cblr-1780	233	21	of	of	ADP
cblr-1780	233	22	interest	interest	NOUN
cblr-1780	233	23	exists	exist	VERB
cblr-1780	233	24	and	and	CCONJ
cblr-1780	233	25	disclosure	disclosure	NOUN
cblr-1780	233	26	is	be	AUX
cblr-1780	233	27	mandatory.60	mandatory.60	PROPN
cblr-1780	233	28	b.	b.	PROPN
cblr-1780	233	29	problems	problem	NOUN
cblr-1780	233	30	with	with	ADP
cblr-1780	233	31	the	the	DET
cblr-1780	233	32	argument	argument	NOUN
cblr-1780	233	33	by	by	ADP
cblr-1780	233	34	analogy	analogy	NOUN
cblr-1780	233	35	the	the	DET
cblr-1780	233	36	argument	argument	NOUN
cblr-1780	233	37	by	by	ADP
cblr-1780	233	38	analogy	analogy	NOUN
cblr-1780	233	39	as	as	ADP
cblr-1780	233	40	a	a	DET
cblr-1780	233	41	justification	justification	NOUN
cblr-1780	233	42	for	for	ADP
cblr-1780	233	43	mandatory	mandatory	ADJ
cblr-1780	233	44	disclosure	disclosure	NOUN
cblr-1780	233	45	of	of	ADP
cblr-1780	233	46	political	political	ADJ
cblr-1780	233	47	spending	spending	NOUN
cblr-1780	233	48	is	be	AUX
cblr-1780	233	49	unconvincing	unconvincing	ADJ
cblr-1780	233	50	.	.	PUNCT
cblr-1780	234	1	such	such	DET
cblr-1780	234	2	an	an	DET
cblr-1780	234	3	argument	argument	NOUN
cblr-1780	234	4	relies	rely	VERB
cblr-1780	234	5	on	on	ADP
cblr-1780	234	6	two	two	NUM
cblr-1780	234	7	premises	premise	NOUN
cblr-1780	234	8	:	:	PUNCT
cblr-1780	234	9	(	(	PUNCT
cblr-1780	234	10	1	1	X
cblr-1780	234	11	)	)	PUNCT
cblr-1780	234	12	that	that	SCONJ
cblr-1780	234	13	political	political	ADJ
cblr-1780	234	14	spending	spending	NOUN
cblr-1780	234	15	is	be	AUX
cblr-1780	234	16	analogous	analogous	ADJ
cblr-1780	234	17	to	to	ADP
cblr-1780	234	18	information	information	NOUN
cblr-1780	234	19	public	public	ADJ
cblr-1780	234	20	companies	company	NOUN
cblr-1780	234	21	are	be	AUX
cblr-1780	234	22	already	already	ADV
cblr-1780	234	23	required	require	VERB
cblr-1780	234	24	to	to	PART
cblr-1780	234	25	disclose	disclose	VERB
cblr-1780	234	26	,	,	PUNCT
cblr-1780	234	27	and	and	CCONJ
cblr-1780	234	28	(	(	PUNCT
cblr-1780	234	29	2	2	X
cblr-1780	234	30	)	)	PUNCT
cblr-1780	234	31	that	that	PRON
cblr-1780	234	32	current	current	ADJ
cblr-1780	234	33	mandatory	mandatory	ADJ
cblr-1780	234	34	disclosure	disclosure	NOUN
cblr-1780	234	35	requirements	requirement	NOUN
cblr-1780	234	36	provide	provide	VERB
cblr-1780	234	37	reliable	reliable	ADJ
cblr-1780	234	38	precedent	precedent	NOUN
cblr-1780	234	39	.	.	PUNCT
cblr-1780	235	1	both	both	DET
cblr-1780	235	2	premises	premise	NOUN
cblr-1780	235	3	are	be	AUX
cblr-1780	235	4	suspect	suspect	ADJ
cblr-1780	235	5	.	.	PUNCT
cblr-1780	236	1	the	the	DET
cblr-1780	236	2	first	first	ADJ
cblr-1780	236	3	premise	premise	NOUN
cblr-1780	236	4	of	of	ADP
cblr-1780	236	5	the	the	DET
cblr-1780	236	6	bebchuk	bebchuk	NOUN
cblr-1780	236	7	and	and	CCONJ
cblr-1780	236	8	jackson	jackson	PROPN
cblr-1780	236	9	argument	argument	NOUN
cblr-1780	236	10	by	by	ADP
cblr-1780	236	11	analogy––that	analogy––that	DET
cblr-1780	236	12	political	political	ADJ
cblr-1780	236	13	spending	spending	NOUN
cblr-1780	236	14	is	be	AUX
cblr-1780	236	15	analogous	analogous	ADJ
cblr-1780	236	16	to	to	ADP
cblr-1780	236	17	information	information	NOUN
cblr-1780	236	18	public	public	ADJ
cblr-1780	236	19	companies	company	NOUN
cblr-1780	236	20	are	be	AUX
cblr-1780	236	21	already	already	ADV
cblr-1780	236	22	required	require	VERB
cblr-1780	236	23	to	to	ADP
cblr-1780	236	24	disclose––is	disclose––is	PROPN
cblr-1780	236	25	suspect	suspect	NOUN
cblr-1780	236	26	because	because	SCONJ
cblr-1780	236	27	political	political	ADJ
cblr-1780	236	28	spending	spending	NOUN
cblr-1780	236	29	appears	appear	VERB
cblr-1780	236	30	to	to	PART
cblr-1780	236	31	be	be	AUX
cblr-1780	236	32	more	more	ADV
cblr-1780	236	33	similar	similar	ADJ
cblr-1780	236	34	in	in	ADP
cblr-1780	236	35	important	important	ADJ
cblr-1780	236	36	respects	respect	NOUN
cblr-1780	236	37	to	to	ADP
cblr-1780	236	38	information	information	NOUN
cblr-1780	236	39	that	that	PRON
cblr-1780	236	40	is	be	AUX
cblr-1780	236	41	not	not	PART
cblr-1780	236	42	currently	currently	ADV
cblr-1780	236	43	subject	subject	ADJ
cblr-1780	236	44	to	to	ADP
cblr-1780	236	45	a	a	DET
cblr-1780	236	46	mandatory	mandatory	ADJ
cblr-1780	236	47	disclosure	disclosure	NOUN
cblr-1780	236	48	requirement	requirement	NOUN
cblr-1780	236	49	than	than	ADP
cblr-1780	236	50	to	to	ADP
cblr-1780	236	51	information	information	NOUN
cblr-1780	236	52	that	that	PRON
cblr-1780	236	53	is	be	AUX
cblr-1780	236	54	required	require	VERB
cblr-1780	236	55	to	to	PART
cblr-1780	236	56	be	be	AUX
cblr-1780	236	57	disclosed	disclose	VERB
cblr-1780	236	58	.	.	PUNCT
cblr-1780	237	1	for	for	ADP
cblr-1780	237	2	example	example	NOUN
cblr-1780	237	3	,	,	PUNCT
cblr-1780	237	4	bebchuk	bebchuk	PROPN
cblr-1780	237	5	and	and	CCONJ
cblr-1780	237	6	jackson	jackson	PROPN
cblr-1780	237	7	highlight	highlight	PROPN
cblr-1780	237	8	similarities	similarity	NOUN
cblr-1780	237	9	between	between	ADP
cblr-1780	237	10	political	political	ADJ
cblr-1780	237	11	spending	spending	NOUN
cblr-1780	237	12	and	and	CCONJ
cblr-1780	237	13	executive	executive	ADJ
cblr-1780	237	14	compensation.61	compensation.61	NOUN
cblr-1780	237	15	bebchuk	bebchuk	PROPN
cblr-1780	237	16	and	and	CCONJ
cblr-1780	237	17	jackson	jackson	PROPN
cblr-1780	237	18	,	,	PUNCT
cblr-1780	237	19	however	however	ADV
cblr-1780	237	20	,	,	PUNCT
cblr-1780	237	21	do	do	AUX
cblr-1780	237	22	not	not	PART
cblr-1780	237	23	consider	consider	VERB
cblr-1780	237	24	how	how	SCONJ
cblr-1780	237	25	limited	limited	ADJ
cblr-1780	237	26	executive	executive	ADJ
cblr-1780	237	27	compensation	compensation	NOUN
cblr-1780	237	28	disclosure	disclosure	NOUN
cblr-1780	237	29	obligations	obligation	NOUN
cblr-1780	237	30	are	be	AUX
cblr-1780	237	31	in	in	ADP
cblr-1780	237	32	certain	certain	ADJ
cblr-1780	237	33	respects	respect	NOUN
cblr-1780	237	34	.	.	PUNCT
cblr-1780	238	1	public	public	ADJ
cblr-1780	238	2	companies	company	NOUN
cblr-1780	238	3	are	be	AUX
cblr-1780	238	4	required	require	VERB
cblr-1780	238	5	to	to	PART
cblr-1780	238	6	disclose	disclose	VERB
cblr-1780	238	7	the	the	DET
cblr-1780	238	8	compensation	compensation	NOUN
cblr-1780	238	9	provided	provide	VERB
cblr-1780	238	10	to	to	ADP
cblr-1780	238	11	,	,	PUNCT
cblr-1780	238	12	at	at	ADP
cblr-1780	238	13	most	most	ADJ
cblr-1780	238	14	,	,	PUNCT
cblr-1780	238	15	five	five	NUM
cblr-1780	238	16	executives.62	executives.62	NOUN
cblr-1780	238	17	there	there	PRON
cblr-1780	238	18	are	be	VERB
cblr-1780	238	19	many	many	ADJ
cblr-1780	238	20	compensation	compensation	NOUN
cblr-1780	238	21	arrangements	arrangement	NOUN
cblr-1780	238	22	that	that	PRON
cblr-1780	238	23	may	may	AUX
cblr-1780	238	24	involve	involve	VERB
cblr-1780	238	25	significant	significant	ADJ
cblr-1780	238	26	conflicts	conflict	NOUN
cblr-1780	238	27	of	of	ADP
cblr-1780	238	28	interest	interest	NOUN
cblr-1780	238	29	,	,	PUNCT
cblr-1780	238	30	but	but	CCONJ
cblr-1780	238	31	for	for	ADP
cblr-1780	238	32	which	which	PRON
cblr-1780	238	33	there	there	PRON
cblr-1780	238	34	is	be	VERB
cblr-1780	238	35	no	no	DET
cblr-1780	238	36	mandatory	mandatory	ADJ
cblr-1780	238	37	disclosure	disclosure	NOUN
cblr-1780	238	38	obligation	obligation	NOUN
cblr-1780	238	39	currently	currently	ADV
cblr-1780	238	40	in	in	ADP
cblr-1780	238	41	place.63	place.63	PROPN
cblr-1780	238	42	a	a	DET
cblr-1780	238	43	60	60	NUM
cblr-1780	238	44	bebchuk	bebchuk	NOUN
cblr-1780	238	45	&	&	CCONJ
cblr-1780	238	46	jackson	jackson	PROPN
cblr-1780	238	47	,	,	PUNCT
cblr-1780	238	48	shining	shine	VERB
cblr-1780	238	49	light	light	NOUN
cblr-1780	238	50	,	,	PUNCT
cblr-1780	238	51	supra	supra	PROPN
cblr-1780	238	52	note	note	NOUN
cblr-1780	238	53	27	27	NUM
cblr-1780	238	54	,	,	PUNCT
cblr-1780	238	55	at	at	ADP
cblr-1780	238	56	948–49	948–49	NUM
cblr-1780	238	57	.	.	PUNCT
cblr-1780	239	1	61	61	NUM
cblr-1780	239	2	see	see	VERB
cblr-1780	239	3	supra	supra	PROPN
cblr-1780	239	4	note	note	NOUN
cblr-1780	239	5	52	52	NUM
cblr-1780	239	6	and	and	CCONJ
cblr-1780	239	7	accompanying	accompany	VERB
cblr-1780	239	8	text	text	NOUN
cblr-1780	239	9	.	.	PUNCT
cblr-1780	240	1	62	62	NUM
cblr-1780	240	2	item	item	NOUN
cblr-1780	240	3	402(a)(3	402(a)(3	NOUN
cblr-1780	240	4	)	)	PUNCT
cblr-1780	240	5	of	of	ADP
cblr-1780	240	6	regulation	regulation	NOUN
cblr-1780	240	7	s	s	PROPN
cblr-1780	240	8	-	-	PUNCT
cblr-1780	240	9	k	k	NOUN
cblr-1780	240	10	sets	set	VERB
cblr-1780	240	11	out	out	ADP
cblr-1780	240	12	the	the	DET
cblr-1780	240	13	criteria	criterion	NOUN
cblr-1780	240	14	for	for	ADP
cblr-1780	240	15	determining	determine	VERB
cblr-1780	240	16	which	which	PRON
cblr-1780	240	17	executives	executive	NOUN
cblr-1780	240	18	will	will	AUX
cblr-1780	240	19	be	be	AUX
cblr-1780	240	20	subject	subject	ADJ
cblr-1780	240	21	to	to	ADP
cblr-1780	240	22	the	the	DET
cblr-1780	240	23	compensation	compensation	NOUN
cblr-1780	240	24	disclosure	disclosure	NOUN
cblr-1780	240	25	obligations	obligation	NOUN
cblr-1780	240	26	.	.	PUNCT
cblr-1780	241	1	those	those	DET
cblr-1780	241	2	executives	executive	NOUN
cblr-1780	241	3	are	be	AUX
cblr-1780	241	4	typically	typically	ADV
cblr-1780	241	5	the	the	DET
cblr-1780	241	6	firm	firm	NOUN
cblr-1780	241	7	’s	’s	PART
cblr-1780	241	8	chief	chief	ADJ
cblr-1780	241	9	executive	executive	ADJ
cblr-1780	241	10	officer	officer	NOUN
cblr-1780	241	11	(	(	PUNCT
cblr-1780	241	12	ceo	ceo	NOUN
cblr-1780	241	13	)	)	PUNCT
cblr-1780	241	14	,	,	PUNCT
cblr-1780	241	15	chief	chief	ADJ
cblr-1780	241	16	financial	financial	ADJ
cblr-1780	241	17	officer	officer	NOUN
cblr-1780	241	18	(	(	PUNCT
cblr-1780	241	19	cfo	cfo	PROPN
cblr-1780	241	20	)	)	PUNCT
cblr-1780	241	21	,	,	PUNCT
cblr-1780	241	22	and	and	CCONJ
cblr-1780	241	23	the	the	DET
cblr-1780	241	24	three	three	NUM
cblr-1780	241	25	other	other	ADJ
cblr-1780	241	26	most	most	ADV
cblr-1780	241	27	highly	highly	ADV
cblr-1780	241	28	compensated	compensate	VERB
cblr-1780	241	29	firm	firm	ADJ
cblr-1780	241	30	employees	employee	NOUN
cblr-1780	241	31	.	.	PUNCT
cblr-1780	242	1	17	17	NUM
cblr-1780	242	2	c.f.r	c.f.r	NOUN
cblr-1780	242	3	.	.	PUNCT
cblr-1780	243	1	§	§	PROPN
cblr-1780	243	2	229.402	229.402	NUM
cblr-1780	243	3	(	(	PUNCT
cblr-1780	243	4	2014	2014	NUM
cblr-1780	243	5	)	)	PUNCT
cblr-1780	243	6	.	.	PUNCT
cblr-1780	244	1	see	see	VERB
cblr-1780	244	2	also	also	ADV
cblr-1780	244	3	smith	smith	PROPN
cblr-1780	244	4	&	&	CCONJ
cblr-1780	244	5	dickerson	dickerson	PROPN
cblr-1780	244	6	,	,	PUNCT
cblr-1780	244	7	non	non	ADJ
cblr-1780	244	8	-	-	ADJ
cblr-1780	244	9	expert	expert	ADJ
cblr-1780	244	10	agency	agency	NOUN
cblr-1780	244	11	,	,	PUNCT
cblr-1780	244	12	supra	supra	PROPN
cblr-1780	244	13	note	note	PROPN
cblr-1780	244	14	28	28	NUM
cblr-1780	244	15	,	,	PUNCT
cblr-1780	244	16	at	at	ADP
cblr-1780	244	17	448	448	NUM
cblr-1780	244	18	.	.	PUNCT
cblr-1780	244	19	63	63	NUM
cblr-1780	244	20	a	a	DET
cblr-1780	244	21	study	study	NOUN
cblr-1780	244	22	that	that	SCONJ
cblr-1780	244	23	bebchuk	bebchuk	NOUN
cblr-1780	244	24	and	and	CCONJ
cblr-1780	244	25	jesse	jesse	PROPN
cblr-1780	244	26	fried	fry	VERB
cblr-1780	244	27	cite	cite	VERB
cblr-1780	244	28	in	in	ADP
cblr-1780	244	29	their	their	PRON
cblr-1780	244	30	book	book	NOUN
cblr-1780	244	31	on	on	ADP
cblr-1780	244	32	executive	executive	NOUN
cblr-1780	244	33	compensation	compensation	NOUN
cblr-1780	244	34	shows	show	VERB
cblr-1780	244	35	that	that	SCONJ
cblr-1780	244	36	compensation	compensation	NOUN
cblr-1780	244	37	arrangements	arrangement	NOUN
cblr-1780	244	38	for	for	ADP
cblr-1780	244	39	employees	employee	NOUN
cblr-1780	244	40	other	other	ADJ
cblr-1780	244	41	than	than	ADP
cblr-1780	244	42	the	the	DET
cblr-1780	244	43	top	top	ADJ
cblr-1780	244	44	five	five	NUM
cblr-1780	244	45	executives	executive	NOUN
cblr-1780	244	46	may	may	AUX
cblr-1780	244	47	result	result	VERB
cblr-1780	244	48	in	in	ADP
cblr-1780	244	49	significant	significant	ADJ
cblr-1780	244	50	guttentag	guttentag	NOUN
cblr-1780	244	51	–	–	PUNCT
cblr-1780	244	52	final	final	ADJ
cblr-1780	244	53	no	no	NOUN
cblr-1780	244	54	.	.	PUNCT
cblr-1780	245	1	3:593	3:593	NUM
cblr-1780	245	2	]	]	PUNCT
cblr-1780	245	3	on	on	ADP
cblr-1780	245	4	political	political	ADJ
cblr-1780	245	5	spending	spending	NOUN
cblr-1780	245	6	disclosure	disclosure	NOUN
cblr-1780	245	7	611	611	NUM
cblr-1780	245	8	convincing	convincing	ADJ
cblr-1780	245	9	argument	argument	NOUN
cblr-1780	245	10	for	for	ADP
cblr-1780	245	11	mandatory	mandatory	ADJ
cblr-1780	245	12	disclosure	disclosure	NOUN
cblr-1780	245	13	of	of	ADP
cblr-1780	245	14	political	political	ADJ
cblr-1780	245	15	spending	spending	NOUN
cblr-1780	245	16	based	base	VERB
cblr-1780	245	17	on	on	ADP
cblr-1780	245	18	its	its	PRON
cblr-1780	245	19	similarity	similarity	NOUN
cblr-1780	245	20	to	to	ADP
cblr-1780	245	21	executive	executive	ADJ
cblr-1780	245	22	compensation	compensation	NOUN
cblr-1780	245	23	arrangements	arrangement	NOUN
cblr-1780	245	24	should	should	AUX
cblr-1780	245	25	show	show	VERB
cblr-1780	245	26	that	that	SCONJ
cblr-1780	245	27	political	political	ADJ
cblr-1780	245	28	spending	spending	NOUN
cblr-1780	245	29	is	be	AUX
cblr-1780	245	30	not	not	PART
cblr-1780	245	31	only	only	ADV
cblr-1780	245	32	similar	similar	ADJ
cblr-1780	245	33	to	to	ADP
cblr-1780	245	34	executive	executive	NOUN
cblr-1780	245	35	compensation	compensation	NOUN
cblr-1780	245	36	generally	generally	ADV
cblr-1780	245	37	,	,	PUNCT
cblr-1780	245	38	but	but	CCONJ
cblr-1780	245	39	also	also	ADV
cblr-1780	245	40	that	that	SCONJ
cblr-1780	245	41	political	political	ADJ
cblr-1780	245	42	spending	spending	NOUN
cblr-1780	245	43	is	be	AUX
cblr-1780	245	44	more	more	ADV
cblr-1780	245	45	comparable	comparable	ADJ
cblr-1780	245	46	to	to	ADP
cblr-1780	245	47	the	the	DET
cblr-1780	245	48	compensation	compensation	NOUN
cblr-1780	245	49	received	receive	VERB
cblr-1780	245	50	by	by	ADP
cblr-1780	245	51	the	the	DET
cblr-1780	245	52	firm	firm	NOUN
cblr-1780	245	53	’s	’s	PART
cblr-1780	245	54	top	top	ADJ
cblr-1780	245	55	five	five	NUM
cblr-1780	245	56	executives	executive	NOUN
cblr-1780	245	57	than	than	ADP
cblr-1780	245	58	to	to	ADP
cblr-1780	245	59	the	the	DET
cblr-1780	245	60	compensation	compensation	NOUN
cblr-1780	245	61	received	receive	VERB
cblr-1780	245	62	by	by	ADP
cblr-1780	245	63	all	all	PRON
cblr-1780	245	64	of	of	ADP
cblr-1780	245	65	the	the	DET
cblr-1780	245	66	firm	firm	NOUN
cblr-1780	245	67	’s	’s	PART
cblr-1780	245	68	other	other	ADJ
cblr-1780	245	69	employees.64	employees.64	X
cblr-1780	245	70	considering	consider	VERB
cblr-1780	245	71	similarities	similarity	NOUN
cblr-1780	245	72	between	between	ADP
cblr-1780	245	73	political	political	ADJ
cblr-1780	245	74	spending	spending	NOUN
cblr-1780	245	75	and	and	CCONJ
cblr-1780	245	76	related	relate	VERB
cblr-1780	245	77	party	party	NOUN
cblr-1780	245	78	transactions	transaction	NOUN
cblr-1780	245	79	not	not	PART
cblr-1780	245	80	subject	subject	ADJ
cblr-1780	245	81	to	to	ADP
cblr-1780	245	82	a	a	DET
cblr-1780	245	83	mandatory	mandatory	ADJ
cblr-1780	245	84	disclosure	disclosure	NOUN
cblr-1780	245	85	obligation	obligation	NOUN
cblr-1780	245	86	also	also	ADV
cblr-1780	245	87	complicates	complicate	VERB
cblr-1780	245	88	the	the	DET
cblr-1780	245	89	argument	argument	NOUN
cblr-1780	245	90	by	by	ADP
cblr-1780	245	91	analogy	analogy	NOUN
cblr-1780	245	92	for	for	ADP
cblr-1780	245	93	requiring	require	VERB
cblr-1780	245	94	political	political	ADJ
cblr-1780	245	95	spending	spending	NOUN
cblr-1780	245	96	disclosure	disclosure	NOUN
cblr-1780	245	97	.	.	PUNCT
cblr-1780	246	1	while	while	SCONJ
cblr-1780	246	2	it	it	PRON
cblr-1780	246	3	is	be	AUX
cblr-1780	246	4	true	true	ADJ
cblr-1780	246	5	that	that	SCONJ
cblr-1780	246	6	any	any	DET
cblr-1780	246	7	transaction	transaction	NOUN
cblr-1780	246	8	between	between	ADP
cblr-1780	246	9	the	the	DET
cblr-1780	246	10	firm	firm	NOUN
cblr-1780	246	11	and	and	CCONJ
cblr-1780	246	12	someone	someone	PRON
cblr-1780	246	13	defined	define	VERB
cblr-1780	246	14	as	as	ADP
cblr-1780	246	15	a	a	DET
cblr-1780	246	16	related	related	ADJ
cblr-1780	246	17	party	party	NOUN
cblr-1780	246	18	with	with	ADP
cblr-1780	246	19	a	a	DET
cblr-1780	246	20	value	value	NOUN
cblr-1780	246	21	in	in	ADP
cblr-1780	246	22	excess	excess	NOUN
cblr-1780	246	23	of	of	ADP
cblr-1780	246	24	$	$	SYM
cblr-1780	246	25	120,000	120,000	NUM
cblr-1780	246	26	is	be	AUX
cblr-1780	246	27	subject	subject	ADJ
cblr-1780	246	28	to	to	ADP
cblr-1780	246	29	a	a	DET
cblr-1780	246	30	mandatory	mandatory	ADJ
cblr-1780	246	31	disclosure	disclosure	NOUN
cblr-1780	246	32	obligation	obligation	NOUN
cblr-1780	246	33	,	,	PUNCT
cblr-1780	246	34	not	not	PART
cblr-1780	246	35	all	all	DET
cblr-1780	246	36	relationships	relationship	NOUN
cblr-1780	246	37	that	that	PRON
cblr-1780	246	38	might	might	AUX
cblr-1780	246	39	involve	involve	VERB
cblr-1780	246	40	related	related	ADJ
cblr-1780	246	41	parties	party	NOUN
cblr-1780	246	42	are	be	AUX
cblr-1780	246	43	included	include	VERB
cblr-1780	246	44	within	within	ADP
cblr-1780	246	45	the	the	DET
cblr-1780	246	46	definition	definition	NOUN
cblr-1780	246	47	of	of	ADP
cblr-1780	246	48	a	a	DET
cblr-1780	246	49	related	related	ADJ
cblr-1780	246	50	party	party	NOUN
cblr-1780	246	51	for	for	ADP
cblr-1780	246	52	the	the	DET
cblr-1780	246	53	purposes	purpose	NOUN
cblr-1780	246	54	of	of	ADP
cblr-1780	246	55	this	this	DET
cblr-1780	246	56	disclosure	disclosure	NOUN
cblr-1780	246	57	obligation.65	obligation.65	PROPN
cblr-1780	246	58	for	for	ADP
cblr-1780	246	59	example	example	NOUN
cblr-1780	246	60	,	,	PUNCT
cblr-1780	246	61	a	a	DET
cblr-1780	246	62	transaction	transaction	NOUN
cblr-1780	246	63	between	between	ADP
cblr-1780	246	64	the	the	DET
cblr-1780	246	65	firm	firm	NOUN
cblr-1780	246	66	and	and	CCONJ
cblr-1780	246	67	the	the	DET
cblr-1780	246	68	step	step	NOUN
cblr-1780	246	69	-	-	PUNCT
cblr-1780	246	70	child	child	NOUN
cblr-1780	246	71	of	of	ADP
cblr-1780	246	72	a	a	DET
cblr-1780	246	73	director	director	NOUN
cblr-1780	246	74	with	with	ADP
cblr-1780	246	75	a	a	DET
cblr-1780	246	76	value	value	NOUN
cblr-1780	246	77	in	in	ADP
cblr-1780	246	78	excess	excess	NOUN
cblr-1780	246	79	of	of	ADP
cblr-1780	246	80	$	$	SYM
cblr-1780	246	81	120,000	120,000	NUM
cblr-1780	246	82	must	must	AUX
cblr-1780	246	83	be	be	AUX
cblr-1780	246	84	disclosed	disclose	VERB
cblr-1780	246	85	,	,	PUNCT
cblr-1780	246	86	whereas	whereas	SCONJ
cblr-1780	246	87	a	a	DET
cblr-1780	246	88	similar	similar	ADJ
cblr-1780	246	89	extraction	extraction	NOUN
cblr-1780	246	90	of	of	ADP
cblr-1780	246	91	value	value	NOUN
cblr-1780	246	92	from	from	ADP
cblr-1780	246	93	the	the	DET
cblr-1780	246	94	firm	firm	NOUN
cblr-1780	246	95	by	by	ADP
cblr-1780	246	96	firm	firm	ADJ
cblr-1780	246	97	insiders	insider	NOUN
cblr-1780	246	98	.	.	PUNCT
cblr-1780	247	1	bebchuk	bebchuk	NOUN
cblr-1780	247	2	and	and	CCONJ
cblr-1780	247	3	fried	fry	VERB
cblr-1780	247	4	discuss	discuss	VERB
cblr-1780	247	5	a	a	DET
cblr-1780	247	6	study	study	NOUN
cblr-1780	247	7	finding	find	VERB
cblr-1780	247	8	that	that	SCONJ
cblr-1780	247	9	“	"	PUNCT
cblr-1780	247	10	where	where	SCONJ
cblr-1780	247	11	the	the	DET
cblr-1780	247	12	ceo	ceo	NOUN
cblr-1780	247	13	is	be	AUX
cblr-1780	247	14	highly	highly	ADV
cblr-1780	247	15	paid	pay	VERB
cblr-1780	247	16	(	(	PUNCT
cblr-1780	247	17	relative	relative	ADJ
cblr-1780	247	18	to	to	ADP
cblr-1780	247	19	similarly	similarly	ADV
cblr-1780	247	20	situated	situate	VERB
cblr-1780	247	21	ceos	ceo	NOUN
cblr-1780	247	22	)	)	PUNCT
cblr-1780	247	23	,	,	PUNCT
cblr-1780	247	24	executives	executive	NOUN
cblr-1780	247	25	at	at	ADP
cblr-1780	247	26	all	all	DET
cblr-1780	247	27	four	four	NUM
cblr-1780	247	28	levels	level	NOUN
cblr-1780	247	29	below	below	ADP
cblr-1780	247	30	the	the	DET
cblr-1780	247	31	ceo	ceo	NOUN
cblr-1780	247	32	also	also	ADV
cblr-1780	247	33	tend	tend	VERB
cblr-1780	247	34	to	to	PART
cblr-1780	247	35	be	be	AUX
cblr-1780	247	36	overpaid	overpay	VERB
cblr-1780	247	37	.	.	PUNCT
cblr-1780	247	38	”	"	PUNCT
cblr-1780	248	1	lucian	lucian	PROPN
cblr-1780	248	2	bebchuk	bebchuk	PROPN
cblr-1780	248	3	&	&	CCONJ
cblr-1780	248	4	jesse	jesse	PROPN
cblr-1780	248	5	fried	fried	PROPN
cblr-1780	248	6	,	,	PUNCT
cblr-1780	248	7	pay	pay	VERB
cblr-1780	248	8	without	without	ADP
cblr-1780	248	9	performance	performance	NOUN
cblr-1780	248	10	:	:	PUNCT
cblr-1780	248	11	the	the	DET
cblr-1780	248	12	unfulfilled	unfulfilled	ADJ
cblr-1780	248	13	promise	promise	NOUN
cblr-1780	248	14	of	of	ADP
cblr-1780	248	15	executive	executive	ADJ
cblr-1780	248	16	compensation	compensation	NOUN
cblr-1780	248	17	64	64	NUM
cblr-1780	248	18	(	(	PUNCT
cblr-1780	248	19	2004	2004	NUM
cblr-1780	248	20	)	)	PUNCT
cblr-1780	248	21	(	(	PUNCT
cblr-1780	248	22	citing	cite	VERB
cblr-1780	248	23	james	james	PROPN
cblr-1780	248	24	b.	b.	PROPN
cblr-1780	248	25	wade	wade	PROPN
cblr-1780	248	26	,	,	PUNCT
cblr-1780	248	27	charles	charles	PROPN
cblr-1780	248	28	a.	a.	PROPN
cblr-1780	248	29	o’reilly	o’reilly	PROPN
cblr-1780	248	30	,	,	PUNCT
cblr-1780	248	31	iii	iii	PROPN
cblr-1780	248	32	&	&	CCONJ
cblr-1780	248	33	timothy	timothy	PROPN
cblr-1780	248	34	g.	g.	PROPN
cblr-1780	248	35	pollock	pollock	PROPN
cblr-1780	248	36	,	,	PUNCT
cblr-1780	248	37	overpaid	overpay	VERB
cblr-1780	248	38	ceos	ceos	NOUN
cblr-1780	248	39	and	and	CCONJ
cblr-1780	248	40	underpaid	underpaid	ADJ
cblr-1780	248	41	managers	manager	NOUN
cblr-1780	248	42	:	:	PUNCT
cblr-1780	248	43	fairness	fairness	NOUN
cblr-1780	248	44	and	and	CCONJ
cblr-1780	248	45	executive	executive	NOUN
cblr-1780	248	46	compensation	compensation	NOUN
cblr-1780	248	47	,	,	PUNCT
cblr-1780	248	48	17	17	NUM
cblr-1780	248	49	org	org	NOUN
cblr-1780	248	50	.	.	PUNCT
cblr-1780	249	1	sci	sci	PROPN
cblr-1780	249	2	.	.	PROPN
cblr-1780	250	1	527	527	NUM
cblr-1780	250	2	(	(	PUNCT
cblr-1780	250	3	2006	2006	NUM
cblr-1780	250	4	)	)	PUNCT
cblr-1780	250	5	)	)	PUNCT
cblr-1780	250	6	.	.	PUNCT
cblr-1780	251	1	64	64	NUM
cblr-1780	251	2	one	one	PRON
cblr-1780	251	3	might	might	AUX
cblr-1780	251	4	imagine	imagine	VERB
cblr-1780	251	5	how	how	SCONJ
cblr-1780	251	6	such	such	DET
cblr-1780	251	7	an	an	DET
cblr-1780	251	8	argument	argument	NOUN
cblr-1780	251	9	could	could	AUX
cblr-1780	251	10	proceed	proceed	VERB
cblr-1780	251	11	.	.	PUNCT
cblr-1780	252	1	presumably	presumably	ADV
cblr-1780	252	2	one	one	PRON
cblr-1780	252	3	would	would	AUX
cblr-1780	252	4	focus	focus	VERB
cblr-1780	252	5	on	on	ADP
cblr-1780	252	6	the	the	DET
cblr-1780	252	7	need	need	NOUN
cblr-1780	252	8	for	for	ADP
cblr-1780	252	9	disclosure	disclosure	NOUN
cblr-1780	252	10	when	when	SCONJ
cblr-1780	252	11	personal	personal	ADJ
cblr-1780	252	12	benefits	benefit	NOUN
cblr-1780	252	13	are	be	AUX
cblr-1780	252	14	received	receive	VERB
cblr-1780	252	15	directly	directly	ADV
cblr-1780	252	16	by	by	ADP
cblr-1780	252	17	those	those	PRON
cblr-1780	252	18	in	in	ADP
cblr-1780	252	19	control	control	NOUN
cblr-1780	252	20	of	of	ADP
cblr-1780	252	21	the	the	DET
cblr-1780	252	22	firm	firm	NOUN
cblr-1780	252	23	,	,	PUNCT
cblr-1780	252	24	as	as	SCONJ
cblr-1780	252	25	is	be	AUX
cblr-1780	252	26	likely	likely	ADJ
cblr-1780	252	27	the	the	DET
cblr-1780	252	28	case	case	NOUN
cblr-1780	252	29	for	for	ADP
cblr-1780	252	30	compensation	compensation	NOUN
cblr-1780	252	31	paid	pay	VERB
cblr-1780	252	32	to	to	ADP
cblr-1780	252	33	the	the	DET
cblr-1780	252	34	firm	firm	NOUN
cblr-1780	252	35	’s	’s	PART
cblr-1780	252	36	top	top	ADJ
cblr-1780	252	37	five	five	NUM
cblr-1780	252	38	executives	executive	NOUN
cblr-1780	252	39	.	.	PUNCT
cblr-1780	253	1	comparatively	comparatively	ADV
cblr-1780	253	2	,	,	PUNCT
cblr-1780	253	3	disclosure	disclosure	NOUN
cblr-1780	253	4	may	may	AUX
cblr-1780	253	5	be	be	AUX
cblr-1780	253	6	less	less	ADV
cblr-1780	253	7	helpful	helpful	ADJ
cblr-1780	253	8	when	when	SCONJ
cblr-1780	253	9	the	the	DET
cblr-1780	253	10	benefits	benefit	NOUN
cblr-1780	253	11	are	be	AUX
cblr-1780	253	12	provided	provide	VERB
cblr-1780	253	13	to	to	ADP
cblr-1780	253	14	those	those	PRON
cblr-1780	253	15	in	in	ADP
cblr-1780	253	16	control	control	NOUN
cblr-1780	253	17	of	of	ADP
cblr-1780	253	18	the	the	DET
cblr-1780	253	19	firm	firm	NOUN
cblr-1780	253	20	indirectly	indirectly	ADV
cblr-1780	253	21	.	.	PUNCT
cblr-1780	254	1	it	it	PRON
cblr-1780	254	2	is	be	AUX
cblr-1780	254	3	not	not	PART
cblr-1780	254	4	self	self	NOUN
cblr-1780	254	5	-	-	PUNCT
cblr-1780	254	6	evident	evident	ADJ
cblr-1780	254	7	,	,	PUNCT
cblr-1780	254	8	however	however	ADV
cblr-1780	254	9	,	,	PUNCT
cblr-1780	254	10	where	where	SCONJ
cblr-1780	254	11	political	political	ADJ
cblr-1780	254	12	spending	spending	NOUN
cblr-1780	254	13	falls	fall	VERB
cblr-1780	254	14	in	in	ADP
cblr-1780	254	15	the	the	DET
cblr-1780	254	16	spectrum	spectrum	NOUN
cblr-1780	254	17	between	between	ADP
cblr-1780	254	18	direct	direct	ADJ
cblr-1780	254	19	personal	personal	ADJ
cblr-1780	254	20	benefit	benefit	NOUN
cblr-1780	254	21	and	and	CCONJ
cblr-1780	254	22	indirect	indirect	ADJ
cblr-1780	254	23	personal	personal	ADJ
cblr-1780	254	24	benefit	benefit	NOUN
cblr-1780	254	25	,	,	PUNCT
cblr-1780	254	26	because	because	SCONJ
cblr-1780	254	27	political	political	ADJ
cblr-1780	254	28	spending	spending	NOUN
cblr-1780	254	29	by	by	ADP
cblr-1780	254	30	the	the	DET
cblr-1780	254	31	firm	firm	NOUN
cblr-1780	254	32	does	do	AUX
cblr-1780	254	33	not	not	PART
cblr-1780	254	34	directly	directly	ADV
cblr-1780	254	35	put	put	VERB
cblr-1780	254	36	more	more	ADJ
cblr-1780	254	37	cash	cash	NOUN
cblr-1780	254	38	in	in	ADP
cblr-1780	254	39	the	the	DET
cblr-1780	254	40	pockets	pocket	NOUN
cblr-1780	254	41	of	of	ADP
cblr-1780	254	42	those	those	PRON
cblr-1780	254	43	in	in	ADP
cblr-1780	254	44	control	control	NOUN
cblr-1780	254	45	of	of	ADP
cblr-1780	254	46	the	the	DET
cblr-1780	254	47	firm	firm	NOUN
cblr-1780	254	48	.	.	PUNCT
cblr-1780	255	1	65	65	NUM
cblr-1780	256	1	the	the	DET
cblr-1780	256	2	criteria	criterion	NOUN
cblr-1780	256	3	for	for	ADP
cblr-1780	256	4	determining	determine	VERB
cblr-1780	256	5	when	when	SCONJ
cblr-1780	256	6	a	a	DET
cblr-1780	256	7	conflict	conflict	NOUN
cblr-1780	256	8	of	of	ADP
cblr-1780	256	9	interest	interest	NOUN
cblr-1780	256	10	transaction	transaction	NOUN
cblr-1780	256	11	must	must	AUX
cblr-1780	256	12	be	be	AUX
cblr-1780	256	13	disclosed	disclose	VERB
cblr-1780	256	14	is	be	AUX
cblr-1780	256	15	set	set	VERB
cblr-1780	256	16	out	out	ADP
cblr-1780	256	17	in	in	ADP
cblr-1780	256	18	item	item	NOUN
cblr-1780	256	19	404	404	NUM
cblr-1780	256	20	of	of	ADP
cblr-1780	256	21	regulation	regulation	NOUN
cblr-1780	256	22	s	s	NOUN
cblr-1780	256	23	-	-	X
cblr-1780	256	24	k	k	NOUN
cblr-1780	256	25	,	,	PUNCT
cblr-1780	256	26	and	and	CCONJ
cblr-1780	256	27	the	the	DET
cblr-1780	256	28	criteria	criterion	NOUN
cblr-1780	256	29	for	for	ADP
cblr-1780	256	30	determining	determine	VERB
cblr-1780	256	31	what	what	PRON
cblr-1780	256	32	constitutes	constitute	VERB
cblr-1780	256	33	a	a	DET
cblr-1780	256	34	related	related	ADJ
cblr-1780	256	35	party	party	NOUN
cblr-1780	256	36	transaction	transaction	NOUN
cblr-1780	256	37	is	be	AUX
cblr-1780	256	38	set	set	VERB
cblr-1780	256	39	out	out	ADP
cblr-1780	256	40	in	in	ADP
cblr-1780	256	41	instructions	instruction	NOUN
cblr-1780	256	42	to	to	PART
cblr-1780	256	43	item	item	VERB
cblr-1780	256	44	404(a)(1)(b)(ii	404(a)(1)(b)(ii	PROPN
cblr-1780	256	45	)	)	PUNCT
cblr-1780	256	46	.	.	PUNCT
cblr-1780	257	1	17	17	NUM
cblr-1780	257	2	c.f.r	c.f.r	NOUN
cblr-1780	257	3	.	.	PUNCT
cblr-1780	258	1	§	§	PROPN
cblr-1780	258	2	229.404	229.404	NUM
cblr-1780	258	3	(	(	PUNCT
cblr-1780	258	4	2014	2014	NUM
cblr-1780	258	5	)	)	PUNCT
cblr-1780	258	6	.	.	PUNCT
cblr-1780	259	1	guttentag	guttentag	NOUN
cblr-1780	259	2	–	–	PUNCT
cblr-1780	259	3	final	final	ADJ
cblr-1780	259	4	612	612	NUM
cblr-1780	259	5	columbia	columbia	PROPN
cblr-1780	259	6	business	business	NOUN
cblr-1780	259	7	law	law	NOUN
cblr-1780	259	8	review	review	NOUN
cblr-1780	260	1	[	[	X
cblr-1780	260	2	vol	vol	NOUN
cblr-1780	260	3	.	.	PUNCT
cblr-1780	260	4	2014	2014	NUM
cblr-1780	260	5	transaction	transaction	NOUN
cblr-1780	260	6	between	between	ADP
cblr-1780	260	7	the	the	DET
cblr-1780	260	8	firm	firm	NOUN
cblr-1780	260	9	and	and	CCONJ
cblr-1780	260	10	the	the	DET
cblr-1780	260	11	cousin	cousin	NOUN
cblr-1780	260	12	of	of	ADP
cblr-1780	260	13	a	a	DET
cblr-1780	260	14	director	director	NOUN
cblr-1780	260	15	does	do	AUX
cblr-1780	260	16	not	not	PART
cblr-1780	260	17	need	need	VERB
cblr-1780	260	18	to	to	PART
cblr-1780	260	19	be	be	AUX
cblr-1780	260	20	disclosed.66	disclosed.66	ADP
cblr-1780	260	21	which	which	PRON
cblr-1780	260	22	of	of	ADP
cblr-1780	260	23	these	these	DET
cblr-1780	260	24	two	two	NUM
cblr-1780	260	25	relationships	relationship	NOUN
cblr-1780	260	26	is	be	AUX
cblr-1780	260	27	more	more	ADV
cblr-1780	260	28	analogous	analogous	ADJ
cblr-1780	260	29	to	to	ADP
cblr-1780	260	30	political	political	ADJ
cblr-1780	260	31	contributions	contribution	NOUN
cblr-1780	260	32	again	again	ADV
cblr-1780	260	33	presents	present	VERB
cblr-1780	260	34	a	a	DET
cblr-1780	260	35	challenging	challenging	ADJ
cblr-1780	260	36	question	question	NOUN
cblr-1780	260	37	that	that	SCONJ
cblr-1780	260	38	bebchuk	bebchuk	NOUN
cblr-1780	260	39	and	and	CCONJ
cblr-1780	260	40	jackson	jackson	PROPN
cblr-1780	260	41	do	do	AUX
cblr-1780	260	42	not	not	PART
cblr-1780	260	43	address.67	address.67	VERB
cblr-1780	260	44	another	another	DET
cblr-1780	260	45	problem	problem	NOUN
cblr-1780	260	46	with	with	ADP
cblr-1780	260	47	relying	rely	VERB
cblr-1780	260	48	on	on	ADP
cblr-1780	260	49	apparent	apparent	ADJ
cblr-1780	260	50	similarities	similarity	NOUN
cblr-1780	260	51	between	between	ADP
cblr-1780	260	52	political	political	ADJ
cblr-1780	260	53	spending	spending	NOUN
cblr-1780	260	54	and	and	CCONJ
cblr-1780	260	55	other	other	ADJ
cblr-1780	260	56	types	type	NOUN
cblr-1780	260	57	of	of	ADP
cblr-1780	260	58	information	information	NOUN
cblr-1780	260	59	already	already	ADV
cblr-1780	260	60	requiring	require	VERB
cblr-1780	260	61	disclosure	disclosure	NOUN
cblr-1780	260	62	is	be	AUX
cblr-1780	260	63	that	that	SCONJ
cblr-1780	260	64	similarities	similarity	NOUN
cblr-1780	260	65	can	can	AUX
cblr-1780	260	66	be	be	AUX
cblr-1780	260	67	feigned	feign	VERB
cblr-1780	260	68	.	.	PUNCT
cblr-1780	261	1	bebchuk	bebchuk	NOUN
cblr-1780	261	2	and	and	CCONJ
cblr-1780	261	3	jackson	jackson	PROPN
cblr-1780	261	4	argue	argue	VERB
cblr-1780	261	5	that	that	SCONJ
cblr-1780	261	6	the	the	DET
cblr-1780	261	7	large	large	ADJ
cblr-1780	261	8	number	number	NOUN
cblr-1780	261	9	of	of	ADP
cblr-1780	261	10	political	political	ADJ
cblr-1780	261	11	spending	spending	NOUN
cblr-1780	261	12	shareholder	shareholder	NOUN
cblr-1780	261	13	proposals	proposal	NOUN
cblr-1780	261	14	and	and	CCONJ
cblr-1780	261	15	the	the	DET
cblr-1780	261	16	unprecedented	unprecedented	ADJ
cblr-1780	261	17	number	number	NOUN
cblr-1780	261	18	of	of	ADP
cblr-1780	261	19	comments	comment	NOUN
cblr-1780	261	20	received	receive	VERB
cblr-1780	261	21	by	by	ADP
cblr-1780	261	22	the	the	DET
cblr-1780	261	23	sec	sec	PROPN
cblr-1780	261	24	on	on	ADP
cblr-1780	261	25	the	the	DET
cblr-1780	261	26	bebchuk	bebchuk	NOUN
cblr-1780	261	27	petition	petition	NOUN
cblr-1780	261	28	indicate	indicate	VERB
cblr-1780	261	29	a	a	DET
cblr-1780	261	30	high	high	ADJ
cblr-1780	261	31	degree	degree	NOUN
cblr-1780	261	32	of	of	ADP
cblr-1780	261	33	investor	investor	NOUN
cblr-1780	261	34	interest	interest	NOUN
cblr-1780	261	35	in	in	ADP
cblr-1780	261	36	this	this	DET
cblr-1780	261	37	information.68	information.68	NOUN
cblr-1780	261	38	however	however	ADV
cblr-1780	261	39	,	,	PUNCT
cblr-1780	261	40	the	the	DET
cblr-1780	261	41	costs	cost	NOUN
cblr-1780	261	42	of	of	ADP
cblr-1780	261	43	submitting	submit	VERB
cblr-1780	261	44	a	a	DET
cblr-1780	261	45	shareholder	shareholder	NOUN
cblr-1780	261	46	proposal	proposal	NOUN
cblr-1780	261	47	or	or	CCONJ
cblr-1780	261	48	providing	provide	VERB
cblr-1780	261	49	a	a	DET
cblr-1780	261	50	comment	comment	NOUN
cblr-1780	261	51	on	on	ADP
cblr-1780	261	52	a	a	DET
cblr-1780	261	53	rule	rule	NOUN
cblr-1780	261	54	-	-	PUNCT
cblr-1780	261	55	making	make	VERB
cblr-1780	261	56	proposal	proposal	NOUN
cblr-1780	261	57	are	be	AUX
cblr-1780	261	58	quite	quite	ADV
cblr-1780	261	59	low	low	ADJ
cblr-1780	261	60	.	.	PUNCT
cblr-1780	262	1	for	for	ADP
cblr-1780	262	2	example	example	NOUN
cblr-1780	262	3	,	,	PUNCT
cblr-1780	262	4	the	the	DET
cblr-1780	262	5	seventy	seventy	NUM
cblr-1780	262	6	-	-	PUNCT
cblr-1780	262	7	one	one	NUM
cblr-1780	262	8	shareholder	shareholder	NOUN
cblr-1780	262	9	political	political	ADJ
cblr-1780	262	10	spending	spending	NOUN
cblr-1780	262	11	proposals	proposal	NOUN
cblr-1780	262	12	made	make	VERB
cblr-1780	262	13	in	in	ADP
cblr-1780	262	14	the	the	DET
cblr-1780	262	15	2012	2012	NUM
cblr-1780	262	16	proxy	proxy	NOUN
cblr-1780	262	17	season	season	NOUN
cblr-1780	262	18	that	that	PRON
cblr-1780	262	19	bebchuk	bebchuk	NOUN
cblr-1780	262	20	and	and	CCONJ
cblr-1780	262	21	jackson	jackson	PROPN
cblr-1780	262	22	report	report	PROPN
cblr-1780	262	23	upon	upon	SCONJ
cblr-1780	262	24	could	could	AUX
cblr-1780	262	25	have	have	AUX
cblr-1780	262	26	been	be	AUX
cblr-1780	262	27	made	make	VERB
cblr-1780	262	28	by	by	ADP
cblr-1780	262	29	shareholders	shareholder	NOUN
cblr-1780	262	30	holding	hold	VERB
cblr-1780	262	31	less	less	ADJ
cblr-1780	262	32	than	than	ADP
cblr-1780	262	33	$	$	SYM
cblr-1780	262	34	150,000	150,000	NUM
cblr-1780	262	35	of	of	ADP
cblr-1780	262	36	the	the	DET
cblr-1780	262	37	relevant	relevant	ADJ
cblr-1780	262	38	companies	company	NOUN
cblr-1780	262	39	’	'	PUNCT
cblr-1780	262	40	stock.69	stock.69	NOUN
cblr-1780	262	41	similarly	similarly	ADV
cblr-1780	262	42	,	,	PUNCT
cblr-1780	262	43	the	the	DET
cblr-1780	262	44	vast	vast	ADJ
cblr-1780	262	45	majority	majority	NOUN
cblr-1780	262	46	of	of	ADP
cblr-1780	262	47	the	the	DET
cblr-1780	262	48	comments	comment	NOUN
cblr-1780	262	49	received	receive	VERB
cblr-1780	262	50	by	by	ADP
cblr-1780	262	51	the	the	DET
cblr-1780	262	52	sec	sec	PROPN
cblr-1780	262	53	on	on	ADP
cblr-1780	262	54	the	the	DET
cblr-1780	262	55	political	political	ADJ
cblr-1780	262	56	spending	spending	NOUN
cblr-1780	262	57	disclosure	disclosure	NOUN
cblr-1780	262	58	proposal	proposal	NOUN
cblr-1780	262	59	consist	consist	NOUN
cblr-1780	262	60	of	of	ADP
cblr-1780	262	61	form	form	NOUN
cblr-1780	262	62	letters.70	letters.70	NOUN
cblr-1780	262	63	why	why	SCONJ
cblr-1780	262	64	should	should	AUX
cblr-1780	262	65	similarities	similaritie	VERB
cblr-1780	262	66	to	to	ADP
cblr-1780	262	67	information	information	NOUN
cblr-1780	262	68	that	that	SCONJ
cblr-1780	262	69	public	public	ADJ
cblr-1780	262	70	66	66	NUM
cblr-1780	262	71	see	see	VERB
cblr-1780	262	72	17	17	NUM
cblr-1780	262	73	c.f.r	c.f.r	NOUN
cblr-1780	262	74	.	.	PUNCT
cblr-1780	263	1	§	§	PROPN
cblr-1780	263	2	229.404	229.404	NUM
cblr-1780	263	3	(	(	PUNCT
cblr-1780	263	4	2014	2014	NUM
cblr-1780	263	5	)	)	PUNCT
cblr-1780	263	6	.	.	PUNCT
cblr-1780	264	1	67	67	NUM
cblr-1780	265	1	i	i	PRON
cblr-1780	265	2	would	would	AUX
cblr-1780	265	3	suspect	suspect	VERB
cblr-1780	265	4	that	that	SCONJ
cblr-1780	265	5	this	this	DET
cblr-1780	265	6	kind	kind	NOUN
cblr-1780	265	7	of	of	ADP
cblr-1780	265	8	question	question	NOUN
cblr-1780	265	9	is	be	AUX
cblr-1780	265	10	simply	simply	ADV
cblr-1780	265	11	too	too	ADV
cblr-1780	265	12	difficult	difficult	ADJ
cblr-1780	265	13	to	to	PART
cblr-1780	265	14	answer	answer	VERB
cblr-1780	265	15	conclusively	conclusively	ADV
cblr-1780	265	16	,	,	PUNCT
cblr-1780	265	17	which	which	PRON
cblr-1780	265	18	is	be	AUX
cblr-1780	265	19	why	why	SCONJ
cblr-1780	265	20	i	i	PRON
cblr-1780	265	21	prefer	prefer	VERB
cblr-1780	265	22	to	to	PART
cblr-1780	265	23	evaluate	evaluate	VERB
cblr-1780	265	24	the	the	DET
cblr-1780	265	25	proposal	proposal	NOUN
cblr-1780	265	26	to	to	PART
cblr-1780	265	27	require	require	VERB
cblr-1780	265	28	public	public	ADJ
cblr-1780	265	29	companies	company	NOUN
cblr-1780	265	30	to	to	PART
cblr-1780	265	31	disclose	disclose	VERB
cblr-1780	265	32	political	political	ADJ
cblr-1780	265	33	spending	spending	NOUN
cblr-1780	265	34	in	in	ADP
cblr-1780	265	35	the	the	DET
cblr-1780	265	36	context	context	NOUN
cblr-1780	265	37	of	of	ADP
cblr-1780	265	38	the	the	DET
cblr-1780	265	39	more	more	ADV
cblr-1780	265	40	fundamental	fundamental	ADJ
cblr-1780	265	41	purposes	purpose	NOUN
cblr-1780	265	42	served	serve	VERB
cblr-1780	265	43	by	by	ADP
cblr-1780	265	44	mandating	mandate	VERB
cblr-1780	265	45	firm	firm	ADJ
cblr-1780	265	46	disclosure	disclosure	NOUN
cblr-1780	265	47	policies	policy	NOUN
cblr-1780	265	48	.	.	PUNCT
cblr-1780	266	1	see	see	VERB
cblr-1780	266	2	infra	infra	NOUN
cblr-1780	266	3	parts	part	NOUN
cblr-1780	266	4	iii	iii	NOUN
cblr-1780	266	5	and	and	CCONJ
cblr-1780	266	6	iv	iv	NUM
cblr-1780	266	7	.	.	PROPN
cblr-1780	266	8	68	68	NUM
cblr-1780	266	9	bebchuk	bebchuk	PROPN
cblr-1780	266	10	&	&	CCONJ
cblr-1780	266	11	jackson	jackson	PROPN
cblr-1780	266	12	,	,	PUNCT
cblr-1780	266	13	shining	shine	VERB
cblr-1780	266	14	light	light	NOUN
cblr-1780	266	15	,	,	PUNCT
cblr-1780	266	16	supra	supra	PROPN
cblr-1780	266	17	note	note	NOUN
cblr-1780	266	18	27	27	NUM
cblr-1780	266	19	,	,	PUNCT
cblr-1780	266	20	at	at	ADP
cblr-1780	266	21	937–41	937–41	NUM
cblr-1780	266	22	.	.	PUNCT
cblr-1780	267	1	69	69	NUM
cblr-1780	268	1	i	i	PRON
cblr-1780	268	2	d.	d.	PROPN
cblr-1780	268	3	at	at	ADP
cblr-1780	268	4	938	938	NUM
cblr-1780	268	5	.	.	PUNCT
cblr-1780	269	1	a	a	DET
cblr-1780	269	2	shareholder	shareholder	NOUN
cblr-1780	269	3	must	must	AUX
cblr-1780	269	4	hold	hold	VERB
cblr-1780	269	5	at	at	ADV
cblr-1780	269	6	least	least	ADV
cblr-1780	269	7	$	$	SYM
cblr-1780	269	8	2,000	2,000	NUM
cblr-1780	269	9	worth	worth	NOUN
cblr-1780	269	10	of	of	ADP
cblr-1780	269	11	a	a	DET
cblr-1780	269	12	company	company	NOUN
cblr-1780	269	13	’s	’s	PART
cblr-1780	269	14	stock	stock	NOUN
cblr-1780	269	15	during	during	ADP
cblr-1780	269	16	the	the	DET
cblr-1780	269	17	relevant	relevant	ADJ
cblr-1780	269	18	period	period	NOUN
cblr-1780	269	19	to	to	PART
cblr-1780	269	20	submit	submit	VERB
cblr-1780	269	21	a	a	DET
cblr-1780	269	22	shareholder	shareholder	NOUN
cblr-1780	269	23	proposal	proposal	NOUN
cblr-1780	269	24	to	to	ADP
cblr-1780	269	25	the	the	DET
cblr-1780	269	26	firm	firm	NOUN
cblr-1780	269	27	.	.	PUNCT
cblr-1780	270	1	17	17	NUM
cblr-1780	270	2	c.f.r	c.f.r	NOUN
cblr-1780	270	3	.	.	PUNCT
cblr-1780	271	1	§	§	PROPN
cblr-1780	271	2	240.14a-8(b)(1	240.14a-8(b)(1	NUM
cblr-1780	271	3	)	)	PUNCT
cblr-1780	271	4	(	(	PUNCT
cblr-1780	271	5	2012	2012	NUM
cblr-1780	271	6	)	)	PUNCT
cblr-1780	271	7	.	.	PUNCT
cblr-1780	272	1	the	the	DET
cblr-1780	272	2	ability	ability	NOUN
cblr-1780	272	3	to	to	PART
cblr-1780	272	4	generate	generate	VERB
cblr-1780	272	5	a	a	DET
cblr-1780	272	6	large	large	ADJ
cblr-1780	272	7	number	number	NOUN
cblr-1780	272	8	of	of	ADP
cblr-1780	272	9	such	such	ADJ
cblr-1780	272	10	proposals	proposal	NOUN
cblr-1780	272	11	with	with	ADP
cblr-1780	272	12	limited	limited	ADJ
cblr-1780	272	13	resources	resource	NOUN
cblr-1780	272	14	is	be	AUX
cblr-1780	272	15	more	more	ADJ
cblr-1780	272	16	than	than	ADP
cblr-1780	272	17	just	just	ADV
cblr-1780	272	18	a	a	DET
cblr-1780	272	19	theoretical	theoretical	ADJ
cblr-1780	272	20	possibility	possibility	NOUN
cblr-1780	272	21	.	.	PUNCT
cblr-1780	273	1	see	see	VERB
cblr-1780	273	2	steven	steven	PROPN
cblr-1780	273	3	davidoff	davidoff	PROPN
cblr-1780	273	4	solomon	solomon	PROPN
cblr-1780	273	5	,	,	PUNCT
cblr-1780	273	6	grappling	grapple	VERB
cblr-1780	273	7	with	with	ADP
cblr-1780	273	8	the	the	DET
cblr-1780	273	9	cost	cost	NOUN
cblr-1780	273	10	of	of	ADP
cblr-1780	273	11	corporate	corporate	ADJ
cblr-1780	273	12	gadflies	gadfly	NOUN
cblr-1780	273	13	,	,	PUNCT
cblr-1780	273	14	n.y	n.y	PROPN
cblr-1780	273	15	.	.	PROPN
cblr-1780	273	16	times	times	PROPN
cblr-1780	273	17	,	,	PUNCT
cblr-1780	273	18	aug	aug	PROPN
cblr-1780	273	19	.	.	PROPN
cblr-1780	273	20	20	20	NUM
cblr-1780	273	21	,	,	PUNCT
cblr-1780	273	22	2014	2014	NUM
cblr-1780	273	23	,	,	PUNCT
cblr-1780	273	24	at	at	ADP
cblr-1780	273	25	b1	b1	NOUN
cblr-1780	273	26	(	(	PUNCT
cblr-1780	273	27	discussing	discuss	VERB
cblr-1780	273	28	how	how	SCONJ
cblr-1780	273	29	three	three	NUM
cblr-1780	273	30	individuals	individual	NOUN
cblr-1780	273	31	who	who	PRON
cblr-1780	273	32	owned	own	VERB
cblr-1780	273	33	a	a	DET
cblr-1780	273	34	relatively	relatively	ADV
cblr-1780	273	35	small	small	ADJ
cblr-1780	273	36	number	number	NOUN
cblr-1780	273	37	of	of	ADP
cblr-1780	273	38	shares	share	NOUN
cblr-1780	273	39	accounted	account	VERB
cblr-1780	273	40	for	for	ADP
cblr-1780	273	41	seventy	seventy	NUM
cblr-1780	273	42	percent	percent	NOUN
cblr-1780	273	43	of	of	ADP
cblr-1780	273	44	all	all	DET
cblr-1780	273	45	individual	individual	ADJ
cblr-1780	273	46	-	-	PUNCT
cblr-1780	273	47	sponsored	sponsor	VERB
cblr-1780	273	48	proposals	proposal	NOUN
cblr-1780	273	49	among	among	ADP
cblr-1780	273	50	fortune	fortune	NOUN
cblr-1780	273	51	250	250	NUM
cblr-1780	273	52	companies	company	NOUN
cblr-1780	273	53	that	that	DET
cblr-1780	273	54	year	year	NOUN
cblr-1780	273	55	)	)	PUNCT
cblr-1780	273	56	.	.	PUNCT
cblr-1780	274	1	70	70	NUM
cblr-1780	274	2	for	for	ADP
cblr-1780	274	3	the	the	DET
cblr-1780	274	4	various	various	ADJ
cblr-1780	274	5	comments	comment	NOUN
cblr-1780	274	6	,	,	PUNCT
cblr-1780	274	7	including	include	VERB
cblr-1780	274	8	those	those	PRON
cblr-1780	274	9	that	that	PRON
cblr-1780	274	10	appear	appear	VERB
cblr-1780	274	11	to	to	PART
cblr-1780	274	12	be	be	AUX
cblr-1780	274	13	form	form	NOUN
cblr-1780	274	14	letters	letter	NOUN
cblr-1780	274	15	,	,	PUNCT
cblr-1780	274	16	on	on	ADP
cblr-1780	274	17	the	the	DET
cblr-1780	274	18	bebchuk	bebchuk	NOUN
cblr-1780	274	19	petition	petition	NOUN
cblr-1780	274	20	,	,	PUNCT
cblr-1780	274	21	see	see	VERB
cblr-1780	274	22	u.s	u.s	PROPN
cblr-1780	274	23	.	.	PROPN
cblr-1780	274	24	sec	sec	PROPN
cblr-1780	274	25	.	.	PROPN
cblr-1780	274	26	&	&	CCONJ
cblr-1780	274	27	exch	exch	PROPN
cblr-1780	274	28	.	.	PUNCT
cblr-1780	275	1	comm’n	comm’n	PROPN
cblr-1780	275	2	,	,	PUNCT
cblr-1780	275	3	comments	comment	NOUN
cblr-1780	275	4	on	on	ADP
cblr-1780	275	5	rulemaking	rulemake	VERB
cblr-1780	275	6	petition	petition	NOUN
cblr-1780	275	7	:	:	PUNCT
cblr-1780	275	8	petition	petition	NOUN
cblr-1780	275	9	to	to	PART
cblr-1780	275	10	require	require	VERB
cblr-1780	275	11	public	public	ADJ
cblr-1780	275	12	companies	company	NOUN
cblr-1780	275	13	to	to	PART
cblr-1780	275	14	guttentag	guttentag	VERB
cblr-1780	275	15	–	–	PUNCT
cblr-1780	275	16	final	final	ADJ
cblr-1780	275	17	no	no	NOUN
cblr-1780	275	18	.	.	PUNCT
cblr-1780	276	1	3:593	3:593	NUM
cblr-1780	276	2	]	]	PUNCT
cblr-1780	276	3	on	on	ADP
cblr-1780	276	4	political	political	ADJ
cblr-1780	276	5	spending	spending	NOUN
cblr-1780	276	6	disclosure	disclosure	NOUN
cblr-1780	276	7	613	613	NUM
cblr-1780	276	8	companies	company	NOUN
cblr-1780	276	9	are	be	AUX
cblr-1780	276	10	required	require	VERB
cblr-1780	276	11	to	to	PART
cblr-1780	276	12	disclose	disclose	VERB
cblr-1780	276	13	be	be	AUX
cblr-1780	276	14	given	give	VERB
cblr-1780	276	15	more	more	ADJ
cblr-1780	276	16	weight	weight	NOUN
cblr-1780	276	17	than	than	ADP
cblr-1780	276	18	similarities	similarity	NOUN
cblr-1780	276	19	to	to	ADP
cblr-1780	276	20	information	information	NOUN
cblr-1780	276	21	not	not	PART
cblr-1780	276	22	required	require	VERB
cblr-1780	276	23	to	to	PART
cblr-1780	276	24	be	be	AUX
cblr-1780	276	25	disclosed	disclose	VERB
cblr-1780	276	26	,	,	PUNCT
cblr-1780	276	27	particularly	particularly	ADV
cblr-1780	276	28	when	when	SCONJ
cblr-1780	276	29	such	such	ADJ
cblr-1780	276	30	similarities	similarity	NOUN
cblr-1780	276	31	can	can	AUX
cblr-1780	276	32	be	be	AUX
cblr-1780	276	33	feigned	feign	VERB
cblr-1780	276	34	?	?	PUNCT
cblr-1780	277	1	these	these	PRON
cblr-1780	277	2	are	be	AUX
cblr-1780	277	3	questions	question	NOUN
cblr-1780	277	4	raised	raise	VERB
cblr-1780	277	5	by	by	ADP
cblr-1780	277	6	the	the	DET
cblr-1780	277	7	argument	argument	NOUN
cblr-1780	277	8	by	by	ADP
cblr-1780	277	9	analogy	analogy	NOUN
cblr-1780	277	10	,	,	PUNCT
cblr-1780	277	11	which	which	DET
cblr-1780	277	12	bebchuk	bebchuk	NOUN
cblr-1780	277	13	and	and	CCONJ
cblr-1780	277	14	jackson	jackson	PROPN
cblr-1780	277	15	do	do	VERB
cblr-1780	277	16	not	not	PART
cblr-1780	277	17	and	and	CCONJ
cblr-1780	277	18	,	,	PUNCT
cblr-1780	277	19	perhaps	perhaps	ADV
cblr-1780	277	20	,	,	PUNCT
cblr-1780	277	21	can	can	AUX
cblr-1780	277	22	not	not	PART
cblr-1780	277	23	fully	fully	ADV
cblr-1780	277	24	address.71	address.71	VERB
cblr-1780	277	25	the	the	DET
cblr-1780	277	26	second	second	ADJ
cblr-1780	277	27	premise	premise	NOUN
cblr-1780	277	28	of	of	ADP
cblr-1780	277	29	the	the	DET
cblr-1780	277	30	argument	argument	NOUN
cblr-1780	277	31	by	by	ADP
cblr-1780	277	32	analogy	analogy	NOUN
cblr-1780	277	33	is	be	AUX
cblr-1780	277	34	that	that	SCONJ
cblr-1780	277	35	current	current	ADJ
cblr-1780	277	36	mandatory	mandatory	ADJ
cblr-1780	277	37	disclosure	disclosure	NOUN
cblr-1780	277	38	requirements	requirement	NOUN
cblr-1780	277	39	provide	provide	VERB
cblr-1780	277	40	a	a	DET
cblr-1780	277	41	useful	useful	ADJ
cblr-1780	277	42	precedent	precedent	NOUN
cblr-1780	277	43	for	for	ADP
cblr-1780	277	44	establishing	establish	VERB
cblr-1780	277	45	new	new	ADJ
cblr-1780	277	46	disclosure	disclosure	NOUN
cblr-1780	277	47	requirements	requirement	NOUN
cblr-1780	277	48	.	.	PUNCT
cblr-1780	278	1	there	there	PRON
cblr-1780	278	2	are	be	VERB
cblr-1780	278	3	several	several	ADJ
cblr-1780	278	4	reasons	reason	NOUN
cblr-1780	278	5	to	to	PART
cblr-1780	278	6	be	be	AUX
cblr-1780	278	7	hesitant	hesitant	ADJ
cblr-1780	278	8	in	in	ADP
cblr-1780	278	9	relying	rely	VERB
cblr-1780	278	10	on	on	ADP
cblr-1780	278	11	the	the	DET
cblr-1780	278	12	precedent	precedent	NOUN
cblr-1780	278	13	of	of	ADP
cblr-1780	278	14	sec	sec	PROPN
cblr-1780	278	15	determinations	determination	NOUN
cblr-1780	278	16	as	as	ADP
cblr-1780	278	17	to	to	ADP
cblr-1780	278	18	what	what	DET
cblr-1780	278	19	information	information	NOUN
cblr-1780	278	20	should	should	AUX
cblr-1780	278	21	be	be	AUX
cblr-1780	278	22	subject	subject	ADJ
cblr-1780	278	23	to	to	ADP
cblr-1780	278	24	a	a	DET
cblr-1780	278	25	mandatory	mandatory	ADJ
cblr-1780	278	26	disclosure	disclosure	NOUN
cblr-1780	278	27	requirement	requirement	NOUN
cblr-1780	278	28	.	.	PUNCT
cblr-1780	279	1	both	both	DET
cblr-1780	279	2	scholars	scholar	NOUN
cblr-1780	279	3	and	and	CCONJ
cblr-1780	279	4	courts	court	NOUN
cblr-1780	279	5	have	have	AUX
cblr-1780	279	6	raised	raise	VERB
cblr-1780	279	7	concerns	concern	NOUN
cblr-1780	279	8	about	about	ADP
cblr-1780	279	9	whether	whether	SCONJ
cblr-1780	279	10	the	the	DET
cblr-1780	279	11	sec	sec	PROPN
cblr-1780	279	12	has	have	AUX
cblr-1780	279	13	established	establish	VERB
cblr-1780	279	14	the	the	DET
cblr-1780	279	15	content	content	NOUN
cblr-1780	279	16	of	of	ADP
cblr-1780	279	17	past	past	ADJ
cblr-1780	279	18	disclosure	disclosure	NOUN
cblr-1780	279	19	requirements	requirement	NOUN
cblr-1780	279	20	in	in	ADP
cblr-1780	279	21	an	an	DET
cblr-1780	279	22	optimal	optimal	ADJ
cblr-1780	279	23	manner	manner	NOUN
cblr-1780	279	24	.	.	PUNCT
cblr-1780	280	1	the	the	DET
cblr-1780	280	2	scholarly	scholarly	ADJ
cblr-1780	280	3	critique	critique	NOUN
cblr-1780	280	4	of	of	ADP
cblr-1780	280	5	the	the	DET
cblr-1780	280	6	sec	sec	PROPN
cblr-1780	280	7	mandatory	mandatory	ADJ
cblr-1780	280	8	disclosure	disclosure	NOUN
cblr-1780	280	9	regime	regime	NOUN
cblr-1780	280	10	has	have	AUX
cblr-1780	280	11	been	be	AUX
cblr-1780	280	12	ongoing	ongoing	ADJ
cblr-1780	280	13	for	for	SCONJ
cblr-1780	280	14	several	several	ADJ
cblr-1780	280	15	decades.72	decades.72	NOUN
cblr-1780	280	16	academics	academic	NOUN
cblr-1780	280	17	have	have	AUX
cblr-1780	280	18	,	,	PUNCT
cblr-1780	280	19	for	for	ADP
cblr-1780	280	20	example	example	NOUN
cblr-1780	280	21	,	,	PUNCT
cblr-1780	280	22	argued	argue	VERB
cblr-1780	280	23	that	that	SCONJ
cblr-1780	280	24	disclose	disclose	VERB
cblr-1780	280	25	to	to	ADP
cblr-1780	280	26	shareholders	shareholder	NOUN
cblr-1780	280	27	the	the	DET
cblr-1780	280	28	use	use	NOUN
cblr-1780	280	29	of	of	ADP
cblr-1780	280	30	corporate	corporate	ADJ
cblr-1780	280	31	resources	resource	NOUN
cblr-1780	280	32	for	for	ADP
cblr-1780	280	33	political	political	ADJ
cblr-1780	280	34	activities	activity	NOUN
cblr-1780	280	35	,	,	PUNCT
cblr-1780	280	36	file	file	VERB
cblr-1780	280	37	no	no	PRON
cblr-1780	280	38	.	.	NOUN
cblr-1780	280	39	4	4	NUM
cblr-1780	280	40	-	-	SYM
cblr-1780	280	41	637	637	NUM
cblr-1780	280	42	,	,	PUNCT
cblr-1780	280	43	available	available	ADJ
cblr-1780	280	44	at	at	ADP
cblr-1780	280	45	http://perma.cc/7spgz8ky	http://perma.cc/7spgz8ky	NOUN
cblr-1780	280	46	.	.	PUNCT
cblr-1780	281	1	71	71	NUM
cblr-1780	281	2	see	see	VERB
cblr-1780	281	3	supra	supra	PROPN
cblr-1780	281	4	note	note	PROPN
cblr-1780	281	5	67	67	NUM
cblr-1780	281	6	.	.	PUNCT
cblr-1780	281	7	72	72	NUM
cblr-1780	282	1	the	the	DET
cblr-1780	282	2	debate	debate	NOUN
cblr-1780	282	3	about	about	ADP
cblr-1780	282	4	the	the	DET
cblr-1780	282	5	efficacy	efficacy	NOUN
cblr-1780	282	6	of	of	ADP
cblr-1780	282	7	public	public	ADJ
cblr-1780	282	8	company	company	NOUN
cblr-1780	282	9	disclosure	disclosure	NOUN
cblr-1780	282	10	regulation	regulation	NOUN
cblr-1780	282	11	can	can	AUX
cblr-1780	282	12	be	be	AUX
cblr-1780	282	13	divided	divide	VERB
cblr-1780	282	14	into	into	ADP
cblr-1780	282	15	three	three	NUM
cblr-1780	282	16	epochs	epoch	NOUN
cblr-1780	282	17	.	.	PUNCT
cblr-1780	283	1	the	the	DET
cblr-1780	283	2	first	first	ADJ
cblr-1780	283	3	epoch	epoch	NOUN
cblr-1780	283	4	was	be	AUX
cblr-1780	283	5	largely	largely	ADV
cblr-1780	283	6	shaped	shape	VERB
cblr-1780	283	7	by	by	ADP
cblr-1780	283	8	econometric	econometric	ADJ
cblr-1780	283	9	studies	study	NOUN
cblr-1780	283	10	in	in	ADP
cblr-1780	283	11	the	the	DET
cblr-1780	283	12	1960s	1960	NOUN
cblr-1780	283	13	and	and	CCONJ
cblr-1780	283	14	1970s	1970	NOUN
cblr-1780	283	15	,	,	PUNCT
cblr-1780	283	16	which	which	PRON
cblr-1780	283	17	failed	fail	VERB
cblr-1780	283	18	to	to	PART
cblr-1780	283	19	find	find	VERB
cblr-1780	283	20	any	any	DET
cblr-1780	283	21	measureable	measureable	ADJ
cblr-1780	283	22	benefits	benefit	NOUN
cblr-1780	283	23	from	from	ADP
cblr-1780	283	24	the	the	DET
cblr-1780	283	25	enactment	enactment	NOUN
cblr-1780	283	26	of	of	ADP
cblr-1780	283	27	either	either	CCONJ
cblr-1780	283	28	the	the	DET
cblr-1780	283	29	securities	security	NOUN
cblr-1780	283	30	act	act	PROPN
cblr-1780	283	31	,	,	PUNCT
cblr-1780	283	32	see	see	VERB
cblr-1780	283	33	gregg	gregg	PROPN
cblr-1780	283	34	a.	a.	PROPN
cblr-1780	283	35	jarrell	jarrell	PROPN
cblr-1780	283	36	,	,	PUNCT
cblr-1780	283	37	the	the	DET
cblr-1780	283	38	economic	economic	ADJ
cblr-1780	283	39	effects	effect	NOUN
cblr-1780	283	40	of	of	ADP
cblr-1780	283	41	federal	federal	ADJ
cblr-1780	283	42	regulation	regulation	NOUN
cblr-1780	283	43	of	of	ADP
cblr-1780	283	44	the	the	DET
cblr-1780	283	45	market	market	NOUN
cblr-1780	283	46	for	for	ADP
cblr-1780	283	47	new	new	ADJ
cblr-1780	283	48	security	security	NOUN
cblr-1780	283	49	issues	issue	NOUN
cblr-1780	283	50	,	,	PUNCT
cblr-1780	283	51	24	24	NUM
cblr-1780	283	52	j.l	j.l	PROPN
cblr-1780	283	53	.	.	PROPN
cblr-1780	283	54	&	&	CCONJ
cblr-1780	283	55	econ	econ	PROPN
cblr-1780	283	56	.	.	PUNCT
cblr-1780	284	1	613	613	NUM
cblr-1780	284	2	,	,	PUNCT
cblr-1780	284	3	615	615	NUM
cblr-1780	284	4	,	,	PUNCT
cblr-1780	284	5	666–69	666–69	X
cblr-1780	284	6	(	(	PUNCT
cblr-1780	284	7	1981	1981	NUM
cblr-1780	284	8	)	)	PUNCT
cblr-1780	284	9	;	;	PUNCT
cblr-1780	284	10	carol	carol	PROPN
cblr-1780	284	11	j.	j.	PROPN
cblr-1780	284	12	simon	simon	PROPN
cblr-1780	284	13	,	,	PUNCT
cblr-1780	284	14	the	the	DET
cblr-1780	284	15	effect	effect	NOUN
cblr-1780	284	16	of	of	ADP
cblr-1780	284	17	the	the	DET
cblr-1780	284	18	1933	1933	NUM
cblr-1780	284	19	securities	security	NOUN
cblr-1780	284	20	act	act	VERB
cblr-1780	284	21	on	on	ADP
cblr-1780	284	22	investor	investor	NOUN
cblr-1780	284	23	information	information	NOUN
cblr-1780	284	24	and	and	CCONJ
cblr-1780	284	25	the	the	DET
cblr-1780	284	26	performance	performance	NOUN
cblr-1780	284	27	of	of	ADP
cblr-1780	284	28	new	new	ADJ
cblr-1780	284	29	issues	issue	NOUN
cblr-1780	284	30	,	,	PUNCT
cblr-1780	284	31	79	79	NUM
cblr-1780	284	32	am	am	NOUN
cblr-1780	284	33	.	.	PUNCT
cblr-1780	285	1	econ	econ	PROPN
cblr-1780	285	2	.	.	PUNCT
cblr-1780	286	1	rev	rev	PROPN
cblr-1780	286	2	.	.	PROPN
cblr-1780	286	3	295	295	NUM
cblr-1780	286	4	,	,	PUNCT
cblr-1780	286	5	295	295	NUM
cblr-1780	286	6	(	(	PUNCT
cblr-1780	286	7	1989	1989	NUM
cblr-1780	286	8	)	)	PUNCT
cblr-1780	286	9	;	;	PUNCT
cblr-1780	286	10	or	or	CCONJ
cblr-1780	286	11	the	the	DET
cblr-1780	286	12	exchange	exchange	NOUN
cblr-1780	286	13	act	act	NOUN
cblr-1780	286	14	,	,	PUNCT
cblr-1780	286	15	see	see	VERB
cblr-1780	286	16	george	george	PROPN
cblr-1780	286	17	j.	j.	PROPN
cblr-1780	286	18	benston	benston	PROPN
cblr-1780	286	19	,	,	PUNCT
cblr-1780	286	20	required	require	VERB
cblr-1780	286	21	disclosure	disclosure	NOUN
cblr-1780	286	22	and	and	CCONJ
cblr-1780	286	23	the	the	DET
cblr-1780	286	24	stock	stock	NOUN
cblr-1780	286	25	market	market	NOUN
cblr-1780	286	26	:	:	PUNCT
cblr-1780	286	27	an	an	DET
cblr-1780	286	28	evaluation	evaluation	NOUN
cblr-1780	286	29	of	of	ADP
cblr-1780	286	30	the	the	DET
cblr-1780	286	31	securities	securities	PROPN
cblr-1780	286	32	exchange	exchange	PROPN
cblr-1780	286	33	act	act	NOUN
cblr-1780	286	34	of	of	ADP
cblr-1780	286	35	1934	1934	NUM
cblr-1780	286	36	,	,	PUNCT
cblr-1780	286	37	63	63	NUM
cblr-1780	286	38	am	am	NOUN
cblr-1780	286	39	.	.	PUNCT
cblr-1780	287	1	econ	econ	PROPN
cblr-1780	287	2	.	.	PUNCT
cblr-1780	288	1	rev	rev	PROPN
cblr-1780	288	2	.	.	PROPN
cblr-1780	288	3	132	132	NUM
cblr-1780	288	4	,	,	PUNCT
cblr-1780	288	5	152	152	NUM
cblr-1780	288	6	(	(	PUNCT
cblr-1780	288	7	1973	1973	NUM
cblr-1780	288	8	)	)	PUNCT
cblr-1780	288	9	.	.	PUNCT
cblr-1780	289	1	several	several	ADJ
cblr-1780	289	2	important	important	ADJ
cblr-1780	289	3	articles	article	NOUN
cblr-1780	289	4	from	from	ADP
cblr-1780	289	5	this	this	DET
cblr-1780	289	6	epoch	epoch	NOUN
cblr-1780	289	7	appeared	appear	VERB
cblr-1780	289	8	in	in	ADP
cblr-1780	289	9	a	a	DET
cblr-1780	289	10	virginia	virginia	PROPN
cblr-1780	289	11	law	law	NOUN
cblr-1780	289	12	review	review	NOUN
cblr-1780	289	13	issue	issue	NOUN
cblr-1780	289	14	dedicated	dedicate	VERB
cblr-1780	289	15	to	to	ADP
cblr-1780	289	16	the	the	DET
cblr-1780	289	17	securities	security	NOUN
cblr-1780	289	18	act	act	NOUN
cblr-1780	289	19	and	and	CCONJ
cblr-1780	289	20	the	the	DET
cblr-1780	289	21	exchange	exchange	NOUN
cblr-1780	289	22	act	act	VERB
cblr-1780	289	23	fifty	fifty	NUM
cblr-1780	289	24	years	year	NOUN
cblr-1780	289	25	after	after	ADP
cblr-1780	289	26	their	their	PRON
cblr-1780	289	27	passage	passage	NOUN
cblr-1780	289	28	,	,	PUNCT
cblr-1780	289	29	including	include	VERB
cblr-1780	289	30	john	john	PROPN
cblr-1780	289	31	c.	c.	PROPN
cblr-1780	289	32	coffee	coffee	PROPN
cblr-1780	289	33	,	,	PUNCT
cblr-1780	289	34	jr	jr	PROPN
cblr-1780	289	35	.	.	PROPN
cblr-1780	289	36	,	,	PUNCT
cblr-1780	289	37	market	market	NOUN
cblr-1780	289	38	failure	failure	NOUN
cblr-1780	289	39	and	and	CCONJ
cblr-1780	289	40	the	the	DET
cblr-1780	289	41	economic	economic	ADJ
cblr-1780	289	42	case	case	NOUN
cblr-1780	289	43	for	for	ADP
cblr-1780	289	44	a	a	DET
cblr-1780	289	45	mandatory	mandatory	ADJ
cblr-1780	289	46	disclosure	disclosure	NOUN
cblr-1780	289	47	system	system	NOUN
cblr-1780	289	48	,	,	PUNCT
cblr-1780	289	49	70	70	NUM
cblr-1780	289	50	va	va	NOUN
cblr-1780	289	51	.	.	PUNCT
cblr-1780	290	1	l.	l.	PROPN
cblr-1780	290	2	rev	rev	PROPN
cblr-1780	290	3	.	.	PROPN
cblr-1780	291	1	717	717	NUM
cblr-1780	291	2	(	(	PUNCT
cblr-1780	291	3	1984	1984	NUM
cblr-1780	291	4	)	)	PUNCT
cblr-1780	291	5	,	,	PUNCT
cblr-1780	291	6	and	and	CCONJ
cblr-1780	291	7	frank	frank	PROPN
cblr-1780	291	8	h.	h.	PROPN
cblr-1780	291	9	easterbrook	easterbrook	PROPN
cblr-1780	291	10	&	&	CCONJ
cblr-1780	291	11	daniel	daniel	PROPN
cblr-1780	291	12	r.	r.	PROPN
cblr-1780	291	13	fischel	fischel	PROPN
cblr-1780	291	14	,	,	PUNCT
cblr-1780	291	15	mandatory	mandatory	ADJ
cblr-1780	291	16	disclosure	disclosure	NOUN
cblr-1780	291	17	and	and	CCONJ
cblr-1780	291	18	the	the	DET
cblr-1780	291	19	protection	protection	NOUN
cblr-1780	291	20	of	of	ADP
cblr-1780	291	21	investors	investor	NOUN
cblr-1780	291	22	,	,	PUNCT
cblr-1780	291	23	70	70	NUM
cblr-1780	291	24	va	va	NOUN
cblr-1780	291	25	.	.	PUNCT
cblr-1780	292	1	l.	l.	PROPN
cblr-1780	292	2	rev	rev	PROPN
cblr-1780	292	3	.	.	PROPN
cblr-1780	293	1	669	669	NUM
cblr-1780	293	2	(	(	PUNCT
cblr-1780	293	3	1984	1984	NUM
cblr-1780	293	4	)	)	PUNCT
cblr-1780	293	5	.	.	PUNCT
cblr-1780	294	1	a	a	DET
cblr-1780	294	2	second	second	ADJ
cblr-1780	294	3	epoch	epoch	NOUN
cblr-1780	294	4	primarily	primarily	ADV
cblr-1780	294	5	revolved	revolve	VERB
cblr-1780	294	6	around	around	ADP
cblr-1780	294	7	the	the	DET
cblr-1780	294	8	publication	publication	NOUN
cblr-1780	294	9	of	of	ADP
cblr-1780	294	10	one	one	NUM
cblr-1780	294	11	seminal	seminal	ADJ
cblr-1780	294	12	article	article	NOUN
cblr-1780	294	13	.	.	PUNCT
cblr-1780	295	1	in	in	ADP
cblr-1780	295	2	1995	1995	NUM
cblr-1780	295	3	,	,	PUNCT
cblr-1780	295	4	the	the	DET
cblr-1780	295	5	publication	publication	NOUN
cblr-1780	295	6	of	of	ADP
cblr-1780	295	7	paul	paul	PROPN
cblr-1780	295	8	g.	g.	PROPN
cblr-1780	295	9	mahoney	mahoney	PROPN
cblr-1780	295	10	,	,	PUNCT
cblr-1780	295	11	mandatory	mandatory	ADJ
cblr-1780	295	12	disclosure	disclosure	NOUN
cblr-1780	295	13	as	as	ADP
cblr-1780	295	14	a	a	DET
cblr-1780	295	15	solution	solution	NOUN
cblr-1780	295	16	to	to	ADP
cblr-1780	295	17	agency	agency	NOUN
cblr-1780	295	18	problems	problem	NOUN
cblr-1780	295	19	,	,	PUNCT
cblr-1780	295	20	62	62	NUM
cblr-1780	295	21	u.	u.	NOUN
cblr-1780	295	22	chi	chi	PROPN
cblr-1780	295	23	.	.	PUNCT
cblr-1780	296	1	l.	l.	PROPN
cblr-1780	296	2	rev	rev	PROPN
cblr-1780	296	3	.	.	PROPN
cblr-1780	296	4	1047	1047	NUM
cblr-1780	296	5	(	(	PUNCT
cblr-1780	296	6	1995	1995	NUM
cblr-1780	296	7	)	)	PUNCT
cblr-1780	296	8	reminded	remind	VERB
cblr-1780	296	9	legal	legal	ADJ
cblr-1780	296	10	academics	academic	NOUN
cblr-1780	296	11	that	that	PRON
cblr-1780	296	12	disclosure	disclosure	NOUN
cblr-1780	296	13	rules	rule	NOUN
cblr-1780	296	14	can	can	AUX
cblr-1780	296	15	be	be	AUX
cblr-1780	296	16	used	use	VERB
cblr-1780	296	17	to	to	ADP
cblr-1780	296	18	both	both	PRON
cblr-1780	296	19	guttentag	guttentag	VERB
cblr-1780	296	20	–	–	PUNCT
cblr-1780	297	1	final	final	ADJ
cblr-1780	297	2	614	614	NUM
cblr-1780	297	3	columbia	columbia	PROPN
cblr-1780	297	4	business	business	NOUN
cblr-1780	297	5	law	law	NOUN
cblr-1780	297	6	review	review	NOUN
cblr-1780	297	7	[	[	X
cblr-1780	297	8	vol	vol	NOUN
cblr-1780	297	9	.	.	PUNCT
cblr-1780	297	10	2014	2014	NUM
cblr-1780	298	1	the	the	DET
cblr-1780	298	2	sec	sec	PROPN
cblr-1780	298	3	consistently	consistently	ADV
cblr-1780	298	4	fails	fail	VERB
cblr-1780	298	5	to	to	PART
cblr-1780	298	6	use	use	VERB
cblr-1780	298	7	the	the	DET
cblr-1780	298	8	best	good	ADJ
cblr-1780	298	9	available	available	ADJ
cblr-1780	298	10	evidence	evidence	NOUN
cblr-1780	298	11	when	when	SCONJ
cblr-1780	298	12	engaging	engage	VERB
cblr-1780	298	13	in	in	ADP
cblr-1780	298	14	rulemaking	rulemaking	NOUN
cblr-1780	298	15	because	because	SCONJ
cblr-1780	298	16	of	of	ADP
cblr-1780	298	17	behavioral	behavioral	ADJ
cblr-1780	298	18	biases	bias	NOUN
cblr-1780	298	19	that	that	PRON
cblr-1780	298	20	limit	limit	VERB
cblr-1780	298	21	the	the	DET
cblr-1780	298	22	efficacy	efficacy	NOUN
cblr-1780	298	23	with	with	ADP
cblr-1780	298	24	which	which	PRON
cblr-1780	298	25	the	the	DET
cblr-1780	298	26	sec	sec	PROPN
cblr-1780	298	27	carries	carry	VERB
cblr-1780	298	28	out	out	ADP
cblr-1780	298	29	its	its	PRON
cblr-1780	298	30	mission.73	mission.73	NOUN
cblr-1780	298	31	other	other	ADJ
cblr-1780	298	32	critiques	critique	NOUN
cblr-1780	298	33	of	of	ADP
cblr-1780	298	34	the	the	DET
cblr-1780	298	35	sec	sec	PROPN
cblr-1780	298	36	rulemaking	rulemaking	NOUN
cblr-1780	298	37	process	process	NOUN
cblr-1780	298	38	note	note	VERB
cblr-1780	298	39	that	that	SCONJ
cblr-1780	298	40	the	the	DET
cblr-1780	298	41	decision	decision	NOUN
cblr-1780	298	42	-	-	PUNCT
cblr-1780	298	43	making	make	VERB
cblr-1780	298	44	process	process	NOUN
cblr-1780	298	45	within	within	ADP
cblr-1780	298	46	the	the	DET
cblr-1780	298	47	sec	sec	PROPN
cblr-1780	298	48	is	be	AUX
cblr-1780	298	49	skewed	skewed	ADJ
cblr-1780	298	50	because	because	SCONJ
cblr-1780	298	51	the	the	DET
cblr-1780	298	52	sec	sec	PROPN
cblr-1780	298	53	commissioners	commissioner	NOUN
cblr-1780	298	54	have	have	VERB
cblr-1780	298	55	to	to	PART
cblr-1780	298	56	navigate	navigate	VERB
cblr-1780	298	57	enhance	enhance	NOUN
cblr-1780	298	58	share	share	NOUN
cblr-1780	298	59	price	price	NOUN
cblr-1780	298	60	accuracy	accuracy	NOUN
cblr-1780	298	61	and	and	CCONJ
cblr-1780	298	62	deter	deter	VERB
cblr-1780	298	63	untoward	untoward	ADJ
cblr-1780	298	64	behavior	behavior	NOUN
cblr-1780	298	65	.	.	PUNCT
cblr-1780	299	1	in	in	ADP
cblr-1780	299	2	his	his	PRON
cblr-1780	299	3	article	article	NOUN
cblr-1780	299	4	,	,	PUNCT
cblr-1780	299	5	mahoney	mahoney	PROPN
cblr-1780	299	6	nicely	nicely	ADV
cblr-1780	299	7	illustrates	illustrate	VERB
cblr-1780	299	8	the	the	DET
cblr-1780	299	9	long	long	ADJ
cblr-1780	299	10	history	history	NOUN
cblr-1780	299	11	of	of	ADP
cblr-1780	299	12	reliance	reliance	NOUN
cblr-1780	299	13	on	on	ADP
cblr-1780	299	14	disclosure	disclosure	NOUN
cblr-1780	299	15	rules	rule	NOUN
cblr-1780	299	16	as	as	ADP
cblr-1780	299	17	a	a	DET
cblr-1780	299	18	way	way	NOUN
cblr-1780	299	19	to	to	PART
cblr-1780	299	20	deter	deter	VERB
cblr-1780	299	21	untoward	untoward	ADJ
cblr-1780	299	22	behavior	behavior	NOUN
cblr-1780	299	23	that	that	PRON
cblr-1780	299	24	preceded	precede	VERB
cblr-1780	299	25	federalization	federalization	NOUN
cblr-1780	299	26	of	of	ADP
cblr-1780	299	27	securities	security	NOUN
cblr-1780	299	28	regulation	regulation	NOUN
cblr-1780	299	29	in	in	ADP
cblr-1780	299	30	the	the	DET
cblr-1780	299	31	united	united	PROPN
cblr-1780	299	32	states	states	PROPN
cblr-1780	299	33	by	by	ADP
cblr-1780	299	34	several	several	ADJ
cblr-1780	299	35	centuries	century	NOUN
cblr-1780	299	36	.	.	PUNCT
cblr-1780	300	1	another	another	DET
cblr-1780	300	2	article	article	NOUN
cblr-1780	300	3	published	publish	VERB
cblr-1780	300	4	in	in	ADP
cblr-1780	300	5	the	the	DET
cblr-1780	300	6	same	same	ADJ
cblr-1780	300	7	year	year	NOUN
cblr-1780	300	8	and	and	CCONJ
cblr-1780	300	9	reaching	reach	VERB
cblr-1780	300	10	conclusions	conclusion	NOUN
cblr-1780	300	11	similar	similar	ADJ
cblr-1780	300	12	to	to	ADP
cblr-1780	300	13	mahoney	mahoney	PROPN
cblr-1780	300	14	’s	’s	PART
cblr-1780	300	15	was	be	AUX
cblr-1780	300	16	edmund	edmund	PROPN
cblr-1780	300	17	w.	w.	PROPN
cblr-1780	300	18	kitch	kitch	PROPN
cblr-1780	300	19	,	,	PUNCT
cblr-1780	300	20	the	the	DET
cblr-1780	300	21	theory	theory	NOUN
cblr-1780	300	22	and	and	CCONJ
cblr-1780	300	23	practice	practice	NOUN
cblr-1780	300	24	of	of	ADP
cblr-1780	300	25	securities	security	NOUN
cblr-1780	300	26	disclosure	disclosure	NOUN
cblr-1780	300	27	,	,	PUNCT
cblr-1780	300	28	61	61	NUM
cblr-1780	300	29	brook	brook	NOUN
cblr-1780	300	30	.	.	PUNCT
cblr-1780	301	1	l.	l.	PROPN
cblr-1780	301	2	rev	rev	PROPN
cblr-1780	301	3	.	.	PROPN
cblr-1780	301	4	763	763	NUM
cblr-1780	301	5	(	(	PUNCT
cblr-1780	301	6	1995	1995	NUM
cblr-1780	301	7	)	)	PUNCT
cblr-1780	301	8	.	.	PUNCT
cblr-1780	302	1	the	the	DET
cblr-1780	302	2	third	third	ADJ
cblr-1780	302	3	epoch	epoch	NOUN
cblr-1780	302	4	of	of	ADP
cblr-1780	302	5	articles	article	NOUN
cblr-1780	302	6	on	on	ADP
cblr-1780	302	7	the	the	DET
cblr-1780	302	8	efficiency	efficiency	NOUN
cblr-1780	302	9	of	of	ADP
cblr-1780	302	10	the	the	DET
cblr-1780	302	11	regulation	regulation	NOUN
cblr-1780	302	12	of	of	ADP
cblr-1780	302	13	public	public	ADJ
cblr-1780	302	14	company	company	NOUN
cblr-1780	302	15	disclosure	disclosure	NOUN
cblr-1780	302	16	policies	policy	NOUN
cblr-1780	302	17	appeared	appear	VERB
cblr-1780	302	18	starting	start	VERB
cblr-1780	302	19	in	in	ADP
cblr-1780	302	20	1998	1998	NUM
cblr-1780	302	21	.	.	PUNCT
cblr-1780	303	1	these	these	DET
cblr-1780	303	2	articles	article	NOUN
cblr-1780	303	3	addressed	address	VERB
cblr-1780	303	4	the	the	DET
cblr-1780	303	5	potential	potential	ADJ
cblr-1780	303	6	costs	cost	NOUN
cblr-1780	303	7	and	and	CCONJ
cblr-1780	303	8	benefits	benefit	NOUN
cblr-1780	303	9	of	of	ADP
cblr-1780	303	10	allowing	allow	VERB
cblr-1780	303	11	issuers	issuer	NOUN
cblr-1780	303	12	to	to	PART
cblr-1780	303	13	select	select	VERB
cblr-1780	303	14	the	the	DET
cblr-1780	303	15	regime	regime	NOUN
cblr-1780	303	16	under	under	ADP
cblr-1780	303	17	which	which	PRON
cblr-1780	303	18	their	their	PRON
cblr-1780	303	19	securities	security	NOUN
cblr-1780	303	20	would	would	AUX
cblr-1780	303	21	be	be	AUX
cblr-1780	303	22	regulated	regulate	VERB
cblr-1780	303	23	,	,	PUNCT
cblr-1780	303	24	much	much	ADV
cblr-1780	303	25	as	as	SCONJ
cblr-1780	303	26	firms	firm	NOUN
cblr-1780	303	27	in	in	ADP
cblr-1780	303	28	the	the	DET
cblr-1780	303	29	united	united	PROPN
cblr-1780	303	30	states	states	PROPN
cblr-1780	303	31	select	select	VERB
cblr-1780	303	32	the	the	DET
cblr-1780	303	33	state	state	NOUN
cblr-1780	303	34	law	law	NOUN
cblr-1780	303	35	that	that	PRON
cblr-1780	303	36	governs	govern	VERB
cblr-1780	303	37	their	their	PRON
cblr-1780	303	38	internal	internal	ADJ
cblr-1780	303	39	affairs	affair	NOUN
cblr-1780	303	40	.	.	PUNCT
cblr-1780	304	1	among	among	ADP
cblr-1780	304	2	the	the	DET
cblr-1780	304	3	important	important	ADJ
cblr-1780	304	4	articles	article	NOUN
cblr-1780	304	5	from	from	ADP
cblr-1780	304	6	this	this	DET
cblr-1780	304	7	epoch	epoch	NOUN
cblr-1780	304	8	are	be	AUX
cblr-1780	304	9	:	:	PUNCT
cblr-1780	304	10	stephen	stephen	PROPN
cblr-1780	304	11	j.	j.	PROPN
cblr-1780	304	12	choi	choi	PROPN
cblr-1780	304	13	&	&	CCONJ
cblr-1780	304	14	andrew	andrew	PROPN
cblr-1780	304	15	guzman	guzman	PROPN
cblr-1780	304	16	,	,	PUNCT
cblr-1780	304	17	portable	portable	ADJ
cblr-1780	304	18	reciprocity	reciprocity	NOUN
cblr-1780	304	19	:	:	PUNCT
cblr-1780	304	20	rethinking	rethink	VERB
cblr-1780	304	21	the	the	DET
cblr-1780	304	22	international	international	ADJ
cblr-1780	304	23	reach	reach	NOUN
cblr-1780	304	24	of	of	ADP
cblr-1780	304	25	securities	security	NOUN
cblr-1780	304	26	regulation	regulation	NOUN
cblr-1780	304	27	,	,	PUNCT
cblr-1780	304	28	71	71	NUM
cblr-1780	304	29	s.	s.	PROPN
cblr-1780	304	30	cal	cal	PROPN
cblr-1780	304	31	.	.	PUNCT
cblr-1780	305	1	l.	l.	PROPN
cblr-1780	305	2	rev	rev	PROPN
cblr-1780	305	3	.	.	PROPN
cblr-1780	306	1	903	903	NUM
cblr-1780	306	2	(	(	PUNCT
cblr-1780	306	3	1998	1998	NUM
cblr-1780	306	4	)	)	PUNCT
cblr-1780	306	5	;	;	PUNCT
cblr-1780	307	1	merritt	merritt	PROPN
cblr-1780	307	2	b.	b.	PROPN
cblr-1780	307	3	fox	fox	PROPN
cblr-1780	307	4	,	,	PUNCT
cblr-1780	307	5	the	the	DET
cblr-1780	307	6	issuer	issuer	ADJ
cblr-1780	307	7	choice	choice	NOUN
cblr-1780	307	8	debate	debate	NOUN
cblr-1780	307	9	,	,	PUNCT
cblr-1780	307	10	2	2	NUM
cblr-1780	307	11	theoretical	theoretical	ADJ
cblr-1780	307	12	inquiries	inquiry	NOUN
cblr-1780	307	13	l.	l.	PROPN
cblr-1780	307	14	563	563	NUM
cblr-1780	307	15	(	(	PUNCT
cblr-1780	307	16	2001	2001	NUM
cblr-1780	307	17	)	)	PUNCT
cblr-1780	307	18	;	;	PUNCT
cblr-1780	307	19	merritt	merritt	PROPN
cblr-1780	307	20	b.	b.	PROPN
cblr-1780	307	21	fox	fox	PROPN
cblr-1780	307	22	,	,	PUNCT
cblr-1780	307	23	retaining	retain	VERB
cblr-1780	307	24	mandatory	mandatory	ADJ
cblr-1780	307	25	securities	security	NOUN
cblr-1780	307	26	disclosure	disclosure	NOUN
cblr-1780	307	27	:	:	PUNCT
cblr-1780	307	28	why	why	SCONJ
cblr-1780	307	29	issuer	issuer	ADJ
cblr-1780	307	30	choice	choice	NOUN
cblr-1780	307	31	is	be	AUX
cblr-1780	307	32	not	not	PART
cblr-1780	307	33	investor	investor	NOUN
cblr-1780	307	34	empowerment	empowerment	NOUN
cblr-1780	307	35	,	,	PUNCT
cblr-1780	307	36	85	85	NUM
cblr-1780	307	37	va	va	NOUN
cblr-1780	307	38	.	.	PUNCT
cblr-1780	308	1	l.	l.	PROPN
cblr-1780	308	2	rev	rev	PROPN
cblr-1780	308	3	.	.	PROPN
cblr-1780	308	4	1335	1335	NUM
cblr-1780	308	5	(	(	PUNCT
cblr-1780	308	6	1999	1999	NUM
cblr-1780	308	7	)	)	PUNCT
cblr-1780	308	8	;	;	PUNCT
cblr-1780	308	9	joseph	joseph	PROPN
cblr-1780	308	10	a.	a.	PROPN
cblr-1780	308	11	franco	franco	PROPN
cblr-1780	308	12	,	,	PUNCT
cblr-1780	308	13	why	why	SCONJ
cblr-1780	308	14	antifraud	antifraud	PROPN
cblr-1780	308	15	prohibitions	prohibition	NOUN
cblr-1780	308	16	are	be	AUX
cblr-1780	308	17	not	not	PART
cblr-1780	308	18	enough	enough	ADJ
cblr-1780	308	19	:	:	PUNCT
cblr-1780	308	20	the	the	DET
cblr-1780	308	21	significance	significance	NOUN
cblr-1780	308	22	of	of	ADP
cblr-1780	308	23	opportunism	opportunism	NOUN
cblr-1780	308	24	,	,	PUNCT
cblr-1780	308	25	candor	candor	NOUN
cblr-1780	308	26	and	and	CCONJ
cblr-1780	308	27	signaling	signal	VERB
cblr-1780	308	28	in	in	ADP
cblr-1780	308	29	the	the	DET
cblr-1780	308	30	economic	economic	ADJ
cblr-1780	308	31	case	case	NOUN
cblr-1780	308	32	for	for	ADP
cblr-1780	308	33	mandatory	mandatory	ADJ
cblr-1780	308	34	securities	security	NOUN
cblr-1780	308	35	disclosure	disclosure	NOUN
cblr-1780	308	36	,	,	PUNCT
cblr-1780	308	37	2002	2002	NUM
cblr-1780	308	38	colum	colum	NOUN
cblr-1780	308	39	.	.	PUNCT
cblr-1780	309	1	bus	bus	NOUN
cblr-1780	309	2	.	.	PUNCT
cblr-1780	310	1	l.	l.	PROPN
cblr-1780	310	2	rev	rev	PROPN
cblr-1780	310	3	.	.	PROPN
cblr-1780	310	4	223	223	NUM
cblr-1780	310	5	(	(	PUNCT
cblr-1780	310	6	2002	2002	NUM
cblr-1780	310	7	)	)	PUNCT
cblr-1780	310	8	;	;	PUNCT
cblr-1780	310	9	michael	michael	PROPN
cblr-1780	310	10	d.	d.	PROPN
cblr-1780	310	11	guttentag	guttentag	PROPN
cblr-1780	310	12	,	,	PUNCT
cblr-1780	310	13	an	an	DET
cblr-1780	310	14	argument	argument	NOUN
cblr-1780	310	15	for	for	ADP
cblr-1780	310	16	imposing	impose	VERB
cblr-1780	310	17	disclosure	disclosure	NOUN
cblr-1780	310	18	requirements	requirement	NOUN
cblr-1780	310	19	on	on	ADP
cblr-1780	310	20	public	public	ADJ
cblr-1780	310	21	companies	company	NOUN
cblr-1780	310	22	,	,	PUNCT
cblr-1780	310	23	32	32	NUM
cblr-1780	310	24	fla	fla	PROPN
cblr-1780	310	25	.	.	PUNCT
cblr-1780	311	1	st	st	PROPN
cblr-1780	311	2	.	.	PROPN
cblr-1780	311	3	u.	u.	PROPN
cblr-1780	311	4	l.	l.	PROPN
cblr-1780	311	5	rev	rev	PROPN
cblr-1780	311	6	.	.	PROPN
cblr-1780	311	7	123	123	NUM
cblr-1780	311	8	(	(	PUNCT
cblr-1780	311	9	2004	2004	NUM
cblr-1780	311	10	)	)	PUNCT
cblr-1780	311	11	;	;	PUNCT
cblr-1780	311	12	edward	edward	PROPN
cblr-1780	311	13	rock	rock	PROPN
cblr-1780	311	14	,	,	PUNCT
cblr-1780	311	15	securities	security	NOUN
cblr-1780	311	16	regulation	regulation	NOUN
cblr-1780	311	17	as	as	ADP
cblr-1780	311	18	lobster	lobster	NOUN
cblr-1780	311	19	trap	trap	NOUN
cblr-1780	311	20	:	:	PUNCT
cblr-1780	311	21	a	a	DET
cblr-1780	311	22	credible	credible	ADJ
cblr-1780	311	23	commitment	commitment	NOUN
cblr-1780	311	24	theory	theory	NOUN
cblr-1780	311	25	of	of	ADP
cblr-1780	311	26	mandatory	mandatory	ADJ
cblr-1780	311	27	disclosure	disclosure	NOUN
cblr-1780	311	28	,	,	PUNCT
cblr-1780	311	29	23	23	NUM
cblr-1780	311	30	cardozo	cardozo	PROPN
cblr-1780	311	31	l.	l.	PROPN
cblr-1780	311	32	rev	rev	PROPN
cblr-1780	311	33	.	.	PROPN
cblr-1780	311	34	675	675	NUM
cblr-1780	311	35	(	(	PUNCT
cblr-1780	311	36	2002	2002	NUM
cblr-1780	311	37	)	)	PUNCT
cblr-1780	311	38	;	;	PUNCT
cblr-1780	311	39	roberta	roberta	PROPN
cblr-1780	311	40	romano	romano	PROPN
cblr-1780	311	41	,	,	PUNCT
cblr-1780	311	42	empowering	empower	VERB
cblr-1780	311	43	investors	investor	NOUN
cblr-1780	311	44	:	:	PUNCT
cblr-1780	311	45	a	a	DET
cblr-1780	311	46	market	market	NOUN
cblr-1780	311	47	approach	approach	NOUN
cblr-1780	311	48	to	to	ADP
cblr-1780	311	49	securities	security	NOUN
cblr-1780	311	50	regulation	regulation	NOUN
cblr-1780	311	51	,	,	PUNCT
cblr-1780	311	52	107	107	NUM
cblr-1780	311	53	yale	yale	PROPN
cblr-1780	311	54	l.j	l.j	PROPN
cblr-1780	311	55	.	.	PROPN
cblr-1780	311	56	2359	2359	NUM
cblr-1780	311	57	(	(	PUNCT
cblr-1780	311	58	1998	1998	NUM
cblr-1780	311	59	)	)	PUNCT
cblr-1780	311	60	;	;	PUNCT
cblr-1780	311	61	and	and	CCONJ
cblr-1780	311	62	roberta	roberta	PROPN
cblr-1780	311	63	romano	romano	PROPN
cblr-1780	311	64	,	,	PUNCT
cblr-1780	311	65	the	the	DET
cblr-1780	311	66	need	need	NOUN
cblr-1780	311	67	for	for	ADP
cblr-1780	311	68	competition	competition	NOUN
cblr-1780	311	69	in	in	ADP
cblr-1780	311	70	international	international	ADJ
cblr-1780	311	71	securities	security	NOUN
cblr-1780	311	72	regulation	regulation	NOUN
cblr-1780	311	73	,	,	PUNCT
cblr-1780	311	74	2	2	NUM
cblr-1780	311	75	theoretical	theoretical	ADJ
cblr-1780	311	76	inquiries	inquiry	NOUN
cblr-1780	311	77	l.	l.	PROPN
cblr-1780	311	78	387	387	NUM
cblr-1780	311	79	(	(	PUNCT
cblr-1780	311	80	2001	2001	NUM
cblr-1780	311	81	)	)	PUNCT
cblr-1780	311	82	.	.	PUNCT
cblr-1780	312	1	73	73	NUM
cblr-1780	312	2	stephen	stephen	PROPN
cblr-1780	312	3	j.	j.	PROPN
cblr-1780	312	4	choi	choi	PROPN
cblr-1780	312	5	&	&	CCONJ
cblr-1780	312	6	a.c	a.c	PROPN
cblr-1780	312	7	.	.	PROPN
cblr-1780	312	8	pritchard	pritchard	PROPN
cblr-1780	312	9	,	,	PUNCT
cblr-1780	312	10	behavioral	behavioral	ADJ
cblr-1780	312	11	economics	economic	NOUN
cblr-1780	312	12	and	and	CCONJ
cblr-1780	312	13	the	the	DET
cblr-1780	312	14	sec	sec	PROPN
cblr-1780	312	15	,	,	PUNCT
cblr-1780	312	16	56	56	NUM
cblr-1780	312	17	stan	stan	PROPN
cblr-1780	312	18	.	.	PUNCT
cblr-1780	313	1	l.	l.	PROPN
cblr-1780	313	2	rev	rev	PROPN
cblr-1780	313	3	.	.	PROPN
cblr-1780	313	4	1	1	NUM
cblr-1780	313	5	,	,	PUNCT
cblr-1780	313	6	23	23	NUM
cblr-1780	313	7	(	(	PUNCT
cblr-1780	313	8	2003	2003	NUM
cblr-1780	313	9	)	)	PUNCT
cblr-1780	313	10	(	(	PUNCT
cblr-1780	313	11	noting	note	VERB
cblr-1780	313	12	that	that	SCONJ
cblr-1780	313	13	the	the	DET
cblr-1780	313	14	sec	sec	PROPN
cblr-1780	313	15	“	"	PUNCT
cblr-1780	313	16	prefers	prefer	NOUN
cblr-1780	313	17	to	to	PART
cblr-1780	313	18	remain	remain	VERB
cblr-1780	313	19	above	above	ADP
cblr-1780	313	20	the	the	DET
cblr-1780	313	21	grubbiness	grubbiness	NOUN
cblr-1780	313	22	of	of	ADP
cblr-1780	313	23	empirical	empirical	ADJ
cblr-1780	313	24	data	datum	NOUN
cblr-1780	313	25	,	,	PUNCT
cblr-1780	313	26	preferring	prefer	VERB
cblr-1780	313	27	to	to	PART
cblr-1780	313	28	ground	ground	VERB
cblr-1780	313	29	its	its	PRON
cblr-1780	313	30	policy	policy	NOUN
cblr-1780	313	31	prescriptions	prescription	NOUN
cblr-1780	313	32	in	in	ADP
cblr-1780	313	33	‘	'	PUNCT
cblr-1780	313	34	investor	investor	NOUN
cblr-1780	313	35	confidence	confidence	NOUN
cblr-1780	313	36	’	'	PUNCT
cblr-1780	313	37	”	"	PUNCT
cblr-1780	313	38	)	)	PUNCT
cblr-1780	313	39	;	;	PUNCT
cblr-1780	313	40	see	see	VERB
cblr-1780	313	41	also	also	ADV
cblr-1780	313	42	donald	donald	PROPN
cblr-1780	313	43	c.	c.	PROPN
cblr-1780	313	44	langevoort	langevoort	PROPN
cblr-1780	313	45	,	,	PUNCT
cblr-1780	313	46	taming	tame	VERB
cblr-1780	313	47	the	the	DET
cblr-1780	313	48	animal	animal	NOUN
cblr-1780	313	49	spirits	spirit	NOUN
cblr-1780	313	50	of	of	ADP
cblr-1780	313	51	the	the	DET
cblr-1780	313	52	stock	stock	NOUN
cblr-1780	313	53	markets	market	NOUN
cblr-1780	313	54	:	:	PUNCT
cblr-1780	313	55	a	a	DET
cblr-1780	313	56	behavioral	behavioral	ADJ
cblr-1780	313	57	approach	approach	NOUN
cblr-1780	313	58	to	to	ADP
cblr-1780	313	59	securities	security	NOUN
cblr-1780	313	60	regulation	regulation	NOUN
cblr-1780	313	61	,	,	PUNCT
cblr-1780	313	62	97	97	NUM
cblr-1780	313	63	nw	nw	NOUN
cblr-1780	313	64	.	.	PUNCT
cblr-1780	313	65	u.	u.	PROPN
cblr-1780	313	66	l.	l.	PROPN
cblr-1780	313	67	rev	rev	PROPN
cblr-1780	313	68	.	.	PROPN
cblr-1780	313	69	135	135	NUM
cblr-1780	313	70	,	,	PUNCT
cblr-1780	313	71	173	173	NUM
cblr-1780	313	72	(	(	PUNCT
cblr-1780	313	73	2002	2002	NUM
cblr-1780	313	74	)	)	PUNCT
cblr-1780	313	75	(	(	PUNCT
cblr-1780	313	76	noting	note	VERB
cblr-1780	313	77	the	the	DET
cblr-1780	313	78	absence	absence	NOUN
cblr-1780	313	79	of	of	ADP
cblr-1780	313	80	empirical	empirical	ADJ
cblr-1780	313	81	support	support	NOUN
cblr-1780	313	82	for	for	ADP
cblr-1780	313	83	policies	policy	NOUN
cblr-1780	313	84	implemented	implement	VERB
cblr-1780	313	85	by	by	ADP
cblr-1780	313	86	the	the	DET
cblr-1780	313	87	sec	sec	PROPN
cblr-1780	313	88	)	)	PUNCT
cblr-1780	313	89	.	.	PUNCT
cblr-1780	314	1	guttentag	guttentag	NOUN
cblr-1780	314	2	–	–	PUNCT
cblr-1780	314	3	final	final	ADJ
cblr-1780	314	4	no	no	NOUN
cblr-1780	314	5	.	.	PUNCT
cblr-1780	315	1	3:593	3:593	NUM
cblr-1780	315	2	]	]	PUNCT
cblr-1780	315	3	on	on	ADP
cblr-1780	315	4	political	political	ADJ
cblr-1780	315	5	spending	spending	NOUN
cblr-1780	315	6	disclosure	disclosure	NOUN
cblr-1780	315	7	615	615	NUM
cblr-1780	315	8	through	through	ADP
cblr-1780	315	9	a	a	DET
cblr-1780	315	10	challenging	challenging	ADJ
cblr-1780	315	11	political	political	ADJ
cblr-1780	315	12	environment.74	environment.74	ADJ
cblr-1780	315	13	one	one	NUM
cblr-1780	315	14	knowledgeable	knowledgeable	ADJ
cblr-1780	315	15	observer	observer	NOUN
cblr-1780	315	16	,	,	PUNCT
cblr-1780	315	17	professor	professor	PROPN
cblr-1780	315	18	joan	joan	PROPN
cblr-1780	315	19	heminway	heminway	PROPN
cblr-1780	315	20	,	,	PUNCT
cblr-1780	315	21	supports	support	VERB
cblr-1780	315	22	the	the	DET
cblr-1780	315	23	“	"	PUNCT
cblr-1780	315	24	complex	complex	ADJ
cblr-1780	315	25	,	,	PUNCT
cblr-1780	315	26	dissonant	dissonant	ADJ
cblr-1780	315	27	characterization	characterization	NOUN
cblr-1780	315	28	of	of	ADP
cblr-1780	315	29	the	the	DET
cblr-1780	315	30	sec	sec	PROPN
cblr-1780	316	1	[	[	X
cblr-1780	316	2	]	]	X
cblr-1780	316	3	as	as	ADP
cblr-1780	316	4	open	open	ADJ
cblr-1780	316	5	-	-	PUNCT
cblr-1780	316	6	minded	minded	ADJ
cblr-1780	316	7	and	and	CCONJ
cblr-1780	316	8	reformist	reformist	ADJ
cblr-1780	316	9	,	,	PUNCT
cblr-1780	316	10	yet	yet	ADV
cblr-1780	316	11	also	also	ADV
cblr-1780	316	12	conservative	conservative	ADJ
cblr-1780	316	13	,	,	PUNCT
cblr-1780	316	14	hierarchical	hierarchical	ADJ
cblr-1780	316	15	,	,	PUNCT
cblr-1780	316	16	and	and	CCONJ
cblr-1780	316	17	slow	slow	ADV
cblr-1780	316	18	-	-	PUNCT
cblr-1780	316	19	moving	move	VERB
cblr-1780	316	20	.	.	PUNCT
cblr-1780	317	1	”75	”75	PROPN
cblr-1780	317	2	heminway	heminway	PROPN
cblr-1780	317	3	notes	note	VERB
cblr-1780	317	4	that	that	SCONJ
cblr-1780	317	5	another	another	DET
cblr-1780	317	6	factor	factor	NOUN
cblr-1780	317	7	that	that	PRON
cblr-1780	317	8	might	might	AUX
cblr-1780	317	9	limit	limit	VERB
cblr-1780	317	10	the	the	DET
cblr-1780	317	11	efficacy	efficacy	NOUN
cblr-1780	317	12	of	of	ADP
cblr-1780	317	13	the	the	DET
cblr-1780	317	14	sec	sec	PROPN
cblr-1780	317	15	is	be	AUX
cblr-1780	317	16	constraints	constraint	NOUN
cblr-1780	317	17	on	on	ADP
cblr-1780	317	18	resources.76	resources.76	PROPN
cblr-1780	317	19	federal	federal	ADJ
cblr-1780	317	20	courts	court	NOUN
cblr-1780	317	21	have	have	AUX
cblr-1780	317	22	likewise	likewise	ADV
cblr-1780	317	23	criticized	criticize	VERB
cblr-1780	317	24	the	the	DET
cblr-1780	317	25	sec	sec	PROPN
cblr-1780	317	26	for	for	ADP
cblr-1780	317	27	failing	fail	VERB
cblr-1780	317	28	to	to	PART
cblr-1780	317	29	carry	carry	VERB
cblr-1780	317	30	out	out	ADP
cblr-1780	317	31	a	a	DET
cblr-1780	317	32	thorough	thorough	ADJ
cblr-1780	317	33	enough	enough	ADJ
cblr-1780	317	34	review	review	NOUN
cblr-1780	317	35	of	of	ADP
cblr-1780	317	36	costs	cost	NOUN
cblr-1780	317	37	and	and	CCONJ
cblr-1780	317	38	benefits	benefit	NOUN
cblr-1780	317	39	in	in	ADP
cblr-1780	317	40	the	the	DET
cblr-1780	317	41	rule	rule	NOUN
cblr-1780	317	42	-	-	PUNCT
cblr-1780	317	43	making	make	VERB
cblr-1780	317	44	process	process	NOUN
cblr-1780	317	45	.	.	PUNCT
cblr-1780	318	1	in	in	ADP
cblr-1780	318	2	business	business	NOUN
cblr-1780	318	3	roundtable	roundtable	PROPN
cblr-1780	318	4	v.	v.	PROPN
cblr-1780	318	5	sec	sec	PROPN
cblr-1780	318	6	,	,	PUNCT
cblr-1780	318	7	for	for	ADP
cblr-1780	318	8	example	example	NOUN
cblr-1780	318	9	,	,	PUNCT
cblr-1780	318	10	the	the	DET
cblr-1780	318	11	district	district	NOUN
cblr-1780	318	12	of	of	ADP
cblr-1780	318	13	columbia	columbia	PROPN
cblr-1780	318	14	court	court	PROPN
cblr-1780	318	15	of	of	ADP
cblr-1780	318	16	appeals	appeals	PROPN
cblr-1780	318	17	overturned	overturn	VERB
cblr-1780	318	18	implementation	implementation	NOUN
cblr-1780	318	19	of	of	ADP
cblr-1780	318	20	sec	sec	PROPN
cblr-1780	318	21	rules	rule	NOUN
cblr-1780	318	22	designed	design	VERB
cblr-1780	318	23	to	to	PART
cblr-1780	318	24	provide	provide	VERB
cblr-1780	318	25	shareholders	shareholder	NOUN
cblr-1780	318	26	greater	great	ADJ
cblr-1780	318	27	access	access	NOUN
cblr-1780	318	28	to	to	ADP
cblr-1780	318	29	the	the	DET
cblr-1780	318	30	firm	firm	NOUN
cblr-1780	318	31	’s	’s	PART
cblr-1780	318	32	proxy	proxy	ADJ
cblr-1780	318	33	statement	statement	NOUN
cblr-1780	318	34	,	,	PUNCT
cblr-1780	318	35	holding	hold	VERB
cblr-1780	318	36	that	that	SCONJ
cblr-1780	318	37	the	the	DET
cblr-1780	318	38	sec	sec	PROPN
cblr-1780	318	39	had	have	AUX
cblr-1780	318	40	failed	fail	VERB
cblr-1780	318	41	to	to	PART
cblr-1780	318	42	sufficiently	sufficiently	ADV
cblr-1780	318	43	evaluate	evaluate	VERB
cblr-1780	318	44	the	the	DET
cblr-1780	318	45	economic	economic	ADJ
cblr-1780	318	46	consequences	consequence	NOUN
cblr-1780	318	47	of	of	ADP
cblr-1780	318	48	the	the	DET
cblr-1780	318	49	proposed	propose	VERB
cblr-1780	318	50	rule.77	rule.77	NOUN
cblr-1780	318	51	uncertainty	uncertainty	NOUN
cblr-1780	318	52	about	about	ADP
cblr-1780	318	53	the	the	DET
cblr-1780	318	54	efficacy	efficacy	NOUN
cblr-1780	318	55	of	of	ADP
cblr-1780	318	56	executive	executive	ADJ
cblr-1780	318	57	compensation	compensation	NOUN
cblr-1780	318	58	disclosure	disclosure	NOUN
cblr-1780	318	59	requirements	requirement	NOUN
cblr-1780	318	60	provides	provide	VERB
cblr-1780	318	61	another	another	DET
cblr-1780	318	62	example	example	NOUN
cblr-1780	318	63	of	of	ADP
cblr-1780	318	64	why	why	SCONJ
cblr-1780	318	65	current	current	ADJ
cblr-1780	318	66	sec	sec	PROPN
cblr-1780	318	67	disclosure	disclosure	NOUN
cblr-1780	318	68	requirements	requirement	NOUN
cblr-1780	318	69	might	might	AUX
cblr-1780	318	70	not	not	PART
cblr-1780	318	71	provide	provide	VERB
cblr-1780	318	72	a	a	DET
cblr-1780	318	73	useful	useful	ADJ
cblr-1780	318	74	precedent	precedent	NOUN
cblr-1780	318	75	.	.	PUNCT
cblr-1780	319	1	despite	despite	SCONJ
cblr-1780	319	2	their	their	PRON
cblr-1780	319	3	growing	grow	VERB
cblr-1780	319	4	scope	scope	NOUN
cblr-1780	319	5	,	,	PUNCT
cblr-1780	319	6	the	the	DET
cblr-1780	319	7	efficacy	efficacy	NOUN
cblr-1780	319	8	of	of	ADP
cblr-1780	319	9	the	the	DET
cblr-1780	319	10	mandatory	mandatory	ADJ
cblr-1780	319	11	disclosure	disclosure	NOUN
cblr-1780	319	12	of	of	ADP
cblr-1780	319	13	executive	executive	ADJ
cblr-1780	319	14	compensation	compensation	NOUN
cblr-1780	319	15	arrangements	arrangement	NOUN
cblr-1780	319	16	remains	remain	VERB
cblr-1780	319	17	a	a	DET
cblr-1780	319	18	matter	matter	NOUN
cblr-1780	319	19	of	of	ADP
cblr-1780	319	20	ongoing	ongoing	ADJ
cblr-1780	319	21	dispute	dispute	NOUN
cblr-1780	319	22	.	.	PUNCT
cblr-1780	320	1	for	for	ADP
cblr-1780	320	2	example	example	NOUN
cblr-1780	320	3	,	,	PUNCT
cblr-1780	320	4	benjamin	benjamin	PROPN
cblr-1780	320	5	hermalin	hermalin	PROPN
cblr-1780	320	6	and	and	CCONJ
cblr-1780	320	7	michael	michael	PROPN
cblr-1780	320	8	weisbach	weisbach	VERB
cblr-1780	320	9	74	74	NUM
cblr-1780	320	10	see	see	VERB
cblr-1780	320	11	,	,	PUNCT
cblr-1780	320	12	e.g.	e.g.	ADV
cblr-1780	320	13	,	,	PUNCT
cblr-1780	320	14	floyd	floyd	PROPN
cblr-1780	320	15	norris	norris	PROPN
cblr-1780	320	16	,	,	PUNCT
cblr-1780	320	17	independent	independent	ADJ
cblr-1780	320	18	agencies	agency	NOUN
cblr-1780	320	19	,	,	PUNCT
cblr-1780	320	20	sometimes	sometimes	ADV
cblr-1780	320	21	in	in	ADP
cblr-1780	320	22	name	name	NOUN
cblr-1780	320	23	only	only	ADV
cblr-1780	320	24	,	,	PUNCT
cblr-1780	320	25	n.y	n.y	PROPN
cblr-1780	320	26	.	.	PROPN
cblr-1780	320	27	times	times	PROPN
cblr-1780	320	28	,	,	PUNCT
cblr-1780	320	29	aug	aug	PROPN
cblr-1780	320	30	.	.	PROPN
cblr-1780	320	31	9	9	NUM
cblr-1780	320	32	,	,	PUNCT
cblr-1780	320	33	2013	2013	NUM
cblr-1780	320	34	,	,	PUNCT
cblr-1780	320	35	at	at	ADP
cblr-1780	320	36	b1	b1	NOUN
cblr-1780	320	37	(	(	PUNCT
cblr-1780	320	38	“	"	PUNCT
cblr-1780	320	39	but	but	CCONJ
cblr-1780	320	40	while	while	SCONJ
cblr-1780	320	41	[	[	X
cblr-1780	320	42	an	an	X
cblr-1780	320	43	]	]	X
cblr-1780	320	44	agency	agency	NOUN
cblr-1780	320	45	may	may	AUX
cblr-1780	320	46	be	be	AUX
cblr-1780	320	47	formally	formally	ADV
cblr-1780	320	48	independent	independent	ADJ
cblr-1780	320	49	,	,	PUNCT
cblr-1780	320	50	individual	individual	ADJ
cblr-1780	320	51	commissioners	commissioner	NOUN
cblr-1780	320	52	are	be	AUX
cblr-1780	320	53	widely	widely	ADV
cblr-1780	320	54	expected	expect	VERB
cblr-1780	320	55	to	to	PART
cblr-1780	320	56	be	be	AUX
cblr-1780	320	57	anything	anything	PRON
cblr-1780	320	58	but	but	CCONJ
cblr-1780	320	59	independent	independent	ADJ
cblr-1780	320	60	.	.	PUNCT
cblr-1780	320	61	”	"	PUNCT
cblr-1780	320	62	)	)	PUNCT
cblr-1780	320	63	.	.	PUNCT
cblr-1780	321	1	75	75	NUM
cblr-1780	321	2	joan	joan	PROPN
cblr-1780	321	3	m.	m.	PROPN
cblr-1780	321	4	heminway	heminway	PROPN
cblr-1780	321	5	,	,	PUNCT
cblr-1780	321	6	desire	desire	NOUN
cblr-1780	321	7	,	,	PUNCT
cblr-1780	321	8	conservatism	conservatism	NOUN
cblr-1780	321	9	,	,	PUNCT
cblr-1780	321	10	underfunding	underfunding	ADJ
cblr-1780	321	11	,	,	PUNCT
cblr-1780	321	12	congressional	congressional	ADJ
cblr-1780	321	13	meddling	meddling	NOUN
cblr-1780	321	14	,	,	PUNCT
cblr-1780	321	15	and	and	CCONJ
cblr-1780	321	16	study	study	NOUN
cblr-1780	321	17	fatigue	fatigue	NOUN
cblr-1780	321	18	:	:	PUNCT
cblr-1780	321	19	ingredients	ingredient	NOUN
cblr-1780	321	20	for	for	ADP
cblr-1780	321	21	ongoing	ongoing	ADJ
cblr-1780	321	22	reform	reform	NOUN
cblr-1780	321	23	at	at	ADP
cblr-1780	321	24	the	the	DET
cblr-1780	321	25	securities	securities	PROPN
cblr-1780	321	26	and	and	CCONJ
cblr-1780	321	27	exchange	exchange	PROPN
cblr-1780	321	28	commission	commission	PROPN
cblr-1780	321	29	?	?	PUNCT
cblr-1780	321	30	,	,	PUNCT
cblr-1780	321	31	81	81	NUM
cblr-1780	321	32	u.	u.	NOUN
cblr-1780	321	33	cin	cin	PROPN
cblr-1780	321	34	.	.	PUNCT
cblr-1780	322	1	l.	l.	PROPN
cblr-1780	322	2	rev	rev	PROPN
cblr-1780	322	3	.	.	PROPN
cblr-1780	322	4	443	443	NUM
cblr-1780	322	5	,	,	PUNCT
cblr-1780	322	6	446	446	NUM
cblr-1780	322	7	(	(	PUNCT
cblr-1780	322	8	2012	2012	NUM
cblr-1780	322	9	)	)	PUNCT
cblr-1780	322	10	.	.	PUNCT
cblr-1780	323	1	76	76	NUM
cblr-1780	323	2	see	see	VERB
cblr-1780	323	3	i	i	PRON
cblr-1780	323	4	d.	d.	PROPN
cblr-1780	323	5	77	77	NUM
cblr-1780	323	6	business	business	NOUN
cblr-1780	323	7	roundtable	roundtable	PROPN
cblr-1780	323	8	v.	v.	ADP
cblr-1780	323	9	sec	sec	PROPN
cblr-1780	323	10	,	,	PUNCT
cblr-1780	323	11	647	647	NUM
cblr-1780	323	12	f.3d	f.3d	NUM
cblr-1780	323	13	1144	1144	NUM
cblr-1780	323	14	,	,	PUNCT
cblr-1780	323	15	1148–49	1148–49	NUM
cblr-1780	323	16	(	(	PUNCT
cblr-1780	323	17	d.c	d.c	PROPN
cblr-1780	323	18	.	.	PROPN
cblr-1780	323	19	cir	cir	PROPN
cblr-1780	323	20	.	.	PROPN
cblr-1780	323	21	2011	2011	NUM
cblr-1780	323	22	)	)	PUNCT
cblr-1780	323	23	.	.	PUNCT
cblr-1780	324	1	however	however	ADV
cblr-1780	324	2	,	,	PUNCT
cblr-1780	324	3	many	many	ADJ
cblr-1780	324	4	commentators	commentator	NOUN
cblr-1780	324	5	have	have	AUX
cblr-1780	324	6	,	,	PUNCT
cblr-1780	324	7	in	in	ADP
cblr-1780	324	8	turn	turn	NOUN
cblr-1780	324	9	,	,	PUNCT
cblr-1780	324	10	criticized	criticize	VERB
cblr-1780	324	11	the	the	DET
cblr-1780	324	12	district	district	NOUN
cblr-1780	324	13	of	of	ADP
cblr-1780	324	14	columbia	columbia	PROPN
cblr-1780	324	15	court	court	PROPN
cblr-1780	324	16	of	of	ADP
cblr-1780	324	17	appeals	appeal	NOUN
cblr-1780	324	18	’	'	PUNCT
cblr-1780	324	19	critique	critique	NOUN
cblr-1780	324	20	of	of	ADP
cblr-1780	324	21	the	the	DET
cblr-1780	324	22	sec	sec	PROPN
cblr-1780	324	23	’s	’s	PART
cblr-1780	324	24	methods	method	NOUN
cblr-1780	324	25	as	as	ADV
cblr-1780	324	26	unsound	unsound	ADJ
cblr-1780	324	27	.	.	PUNCT
cblr-1780	325	1	see	see	VERB
cblr-1780	325	2	,	,	PUNCT
cblr-1780	325	3	e.g.	e.g.	ADV
cblr-1780	325	4	,	,	PUNCT
cblr-1780	325	5	james	james	PROPN
cblr-1780	325	6	d.	d.	PROPN
cblr-1780	325	7	cox	cox	PROPN
cblr-1780	325	8	&	&	CCONJ
cblr-1780	325	9	benjamin	benjamin	PROPN
cblr-1780	325	10	j.c	j.c	PROPN
cblr-1780	325	11	.	.	PROPN
cblr-1780	325	12	baucom	baucom	PROPN
cblr-1780	325	13	,	,	PUNCT
cblr-1780	325	14	the	the	DET
cblr-1780	325	15	emperor	emperor	NOUN
cblr-1780	325	16	has	have	VERB
cblr-1780	325	17	no	no	DET
cblr-1780	325	18	clothes	clothe	NOUN
cblr-1780	325	19	:	:	PUNCT
cblr-1780	325	20	confronting	confront	VERB
cblr-1780	325	21	the	the	DET
cblr-1780	325	22	d.c	d.c	PROPN
cblr-1780	325	23	.	.	PROPN
cblr-1780	325	24	circuit	circuit	PROPN
cblr-1780	325	25	’s	’s	PART
cblr-1780	325	26	usurpation	usurpation	NOUN
cblr-1780	325	27	of	of	ADP
cblr-1780	325	28	sec	sec	PROPN
cblr-1780	325	29	rulemaking	rulemaking	NOUN
cblr-1780	325	30	authority	authority	NOUN
cblr-1780	325	31	,	,	PUNCT
cblr-1780	325	32	90	90	NUM
cblr-1780	325	33	tex	tex	PROPN
cblr-1780	325	34	.	.	PROPN
cblr-1780	325	35	l.	l.	PROPN
cblr-1780	325	36	rev	rev	PROPN
cblr-1780	325	37	.	.	PROPN
cblr-1780	325	38	1811	1811	NUM
cblr-1780	325	39	,	,	PUNCT
cblr-1780	325	40	1813	1813	NUM
cblr-1780	325	41	(	(	PUNCT
cblr-1780	325	42	2012	2012	NUM
cblr-1780	325	43	)	)	PUNCT
cblr-1780	325	44	;	;	PUNCT
cblr-1780	325	45	bruce	bruce	PROPN
cblr-1780	325	46	kraus	kraus	PROPN
cblr-1780	325	47	&	&	CCONJ
cblr-1780	325	48	connor	connor	PROPN
cblr-1780	325	49	raso	raso	NOUN
cblr-1780	325	50	,	,	PUNCT
cblr-1780	325	51	rational	rational	ADJ
cblr-1780	325	52	boundaries	boundary	NOUN
cblr-1780	325	53	for	for	ADP
cblr-1780	325	54	sec	sec	PROPN
cblr-1780	325	55	cost	cost	NOUN
cblr-1780	325	56	-	-	PUNCT
cblr-1780	325	57	benefit	benefit	NOUN
cblr-1780	325	58	analysis	analysis	NOUN
cblr-1780	325	59	,	,	PUNCT
cblr-1780	325	60	30	30	NUM
cblr-1780	325	61	yale	yale	PROPN
cblr-1780	325	62	j.	j.	PROPN
cblr-1780	325	63	on	on	ADP
cblr-1780	325	64	reg	reg	PROPN
cblr-1780	325	65	.	.	PUNCT
cblr-1780	326	1	289	289	NUM
cblr-1780	326	2	,	,	PUNCT
cblr-1780	326	3	293	293	NUM
cblr-1780	326	4	(	(	PUNCT
cblr-1780	326	5	2013	2013	NUM
cblr-1780	326	6	)	)	PUNCT
cblr-1780	326	7	;	;	PUNCT
cblr-1780	326	8	cass	cass	PROPN
cblr-1780	326	9	r.	r.	PROPN
cblr-1780	326	10	sunstein	sunstein	PROPN
cblr-1780	326	11	&	&	CCONJ
cblr-1780	326	12	adrian	adrian	PROPN
cblr-1780	326	13	vermeule	vermeule	PROPN
cblr-1780	326	14	,	,	PUNCT
cblr-1780	326	15	libertarian	libertarian	ADJ
cblr-1780	326	16	administrative	administrative	ADJ
cblr-1780	326	17	law	law	NOUN
cblr-1780	326	18	,	,	PUNCT
cblr-1780	326	19	u.	u.	PROPN
cblr-1780	326	20	chi	chi	PROPN
cblr-1780	326	21	.	.	PUNCT
cblr-1780	327	1	l.	l.	PROPN
cblr-1780	327	2	rev	rev	PROPN
cblr-1780	327	3	.	.	PUNCT
cblr-1780	328	1	(	(	PUNCT
cblr-1780	328	2	forthcoming	forthcoming	ADJ
cblr-1780	328	3	)	)	PUNCT
cblr-1780	328	4	.	.	PUNCT
cblr-1780	329	1	this	this	DET
cblr-1780	329	2	article	article	NOUN
cblr-1780	329	3	does	do	AUX
cblr-1780	329	4	not	not	PART
cblr-1780	329	5	take	take	VERB
cblr-1780	329	6	any	any	DET
cblr-1780	329	7	position	position	NOUN
cblr-1780	329	8	on	on	ADP
cblr-1780	329	9	whether	whether	SCONJ
cblr-1780	329	10	this	this	DET
cblr-1780	329	11	case	case	NOUN
cblr-1780	329	12	was	be	AUX
cblr-1780	329	13	rightly	rightly	ADV
cblr-1780	329	14	or	or	CCONJ
cblr-1780	329	15	wrongly	wrongly	ADV
cblr-1780	329	16	decided	decide	VERB
cblr-1780	329	17	.	.	PUNCT
cblr-1780	330	1	guttentag	guttentag	NOUN
cblr-1780	330	2	–	–	PUNCT
cblr-1780	330	3	final	final	ADJ
cblr-1780	330	4	616	616	NUM
cblr-1780	330	5	columbia	columbia	PROPN
cblr-1780	330	6	business	business	NOUN
cblr-1780	330	7	law	law	PROPN
cblr-1780	330	8	review	review	NOUN
cblr-1780	331	1	[	[	X
cblr-1780	331	2	vol	vol	NOUN
cblr-1780	331	3	.	.	PUNCT
cblr-1780	331	4	2014	2014	NUM
cblr-1780	331	5	developed	develop	VERB
cblr-1780	331	6	an	an	DET
cblr-1780	331	7	analytic	analytic	ADJ
cblr-1780	331	8	model	model	NOUN
cblr-1780	331	9	that	that	PRON
cblr-1780	331	10	shows	show	VERB
cblr-1780	331	11	conditions	condition	NOUN
cblr-1780	331	12	under	under	ADP
cblr-1780	331	13	which	which	PRON
cblr-1780	331	14	“	"	PUNCT
cblr-1780	331	15	better	well	ADJ
cblr-1780	331	16	disclosure	disclosure	NOUN
cblr-1780	331	17	regimes	regime	NOUN
cblr-1780	331	18	can	can	AUX
cblr-1780	331	19	also	also	ADV
cblr-1780	331	20	aggravate	aggravate	VERB
cblr-1780	331	21	agency	agency	NOUN
cblr-1780	331	22	problems	problem	NOUN
cblr-1780	331	23	and	and	CCONJ
cblr-1780	331	24	related	related	ADJ
cblr-1780	331	25	costs	cost	NOUN
cblr-1780	331	26	,	,	PUNCT
cblr-1780	331	27	including	include	VERB
cblr-1780	331	28	executive	executive	ADJ
cblr-1780	331	29	compensation	compensation	NOUN
cblr-1780	331	30	.	.	PUNCT
cblr-1780	332	1	”78	”78	ADJ
cblr-1780	332	2	other	other	ADJ
cblr-1780	332	3	disclosure	disclosure	NOUN
cblr-1780	332	4	provisions	provision	NOUN
cblr-1780	332	5	related	relate	VERB
cblr-1780	332	6	to	to	ADP
cblr-1780	332	7	executive	executive	ADJ
cblr-1780	332	8	compensation	compensation	NOUN
cblr-1780	332	9	,	,	PUNCT
cblr-1780	332	10	such	such	ADJ
cblr-1780	332	11	as	as	ADP
cblr-1780	332	12	the	the	DET
cblr-1780	332	13	requirement	requirement	NOUN
cblr-1780	332	14	that	that	SCONJ
cblr-1780	332	15	firms	firm	NOUN
cblr-1780	332	16	compare	compare	VERB
cblr-1780	332	17	the	the	DET
cblr-1780	332	18	ceo	ceo	NOUN
cblr-1780	332	19	’s	’s	PART
cblr-1780	332	20	pay	pay	NOUN
cblr-1780	332	21	with	with	ADP
cblr-1780	332	22	that	that	PRON
cblr-1780	332	23	of	of	ADP
cblr-1780	332	24	the	the	DET
cblr-1780	332	25	median	median	ADJ
cblr-1780	332	26	employee	employee	NOUN
cblr-1780	332	27	at	at	ADP
cblr-1780	332	28	the	the	DET
cblr-1780	332	29	firm	firm	NOUN
cblr-1780	332	30	,	,	PUNCT
cblr-1780	332	31	have	have	AUX
cblr-1780	332	32	likewise	likewise	ADV
cblr-1780	332	33	been	be	AUX
cblr-1780	332	34	criticized	criticize	VERB
cblr-1780	332	35	for	for	ADP
cblr-1780	332	36	their	their	PRON
cblr-1780	332	37	expense	expense	NOUN
cblr-1780	332	38	and	and	CCONJ
cblr-1780	332	39	lack	lack	NOUN
cblr-1780	332	40	of	of	ADP
cblr-1780	332	41	efficacy.79	efficacy.79	NOUN
cblr-1780	332	42	ralph	ralph	PROPN
cblr-1780	332	43	waldo	waldo	PROPN
cblr-1780	332	44	emerson	emerson	PROPN
cblr-1780	332	45	observed	observe	VERB
cblr-1780	332	46	that	that	SCONJ
cblr-1780	332	47	a	a	DET
cblr-1780	332	48	“	"	PUNCT
cblr-1780	332	49	foolish	foolish	ADJ
cblr-1780	332	50	consistency	consistency	NOUN
cblr-1780	332	51	is	be	AUX
cblr-1780	332	52	the	the	DET
cblr-1780	332	53	hobgoblin	hobgoblin	NOUN
cblr-1780	332	54	of	of	ADP
cblr-1780	332	55	little	little	ADJ
cblr-1780	332	56	minds	mind	NOUN
cblr-1780	332	57	.	.	PUNCT
cblr-1780	333	1	”80	”80	NOUN
cblr-1780	333	2	it	it	PRON
cblr-1780	333	3	may	may	AUX
cblr-1780	333	4	be	be	AUX
cblr-1780	333	5	possible	possible	ADJ
cblr-1780	333	6	to	to	PART
cblr-1780	333	7	rescue	rescue	VERB
cblr-1780	333	8	the	the	DET
cblr-1780	333	9	argument	argument	NOUN
cblr-1780	333	10	by	by	ADP
cblr-1780	333	11	analogy	analogy	NOUN
cblr-1780	333	12	by	by	ADP
cblr-1780	333	13	addressing	address	VERB
cblr-1780	333	14	the	the	DET
cblr-1780	333	15	various	various	ADJ
cblr-1780	333	16	concerns	concern	NOUN
cblr-1780	333	17	with	with	ADP
cblr-1780	333	18	bebchuk	bebchuk	NOUN
cblr-1780	333	19	and	and	CCONJ
cblr-1780	333	20	jackson	jackson	PROPN
cblr-1780	333	21	’s	’s	PART
cblr-1780	333	22	reliance	reliance	NOUN
cblr-1780	333	23	on	on	ADP
cblr-1780	333	24	this	this	DET
cblr-1780	333	25	approach	approach	NOUN
cblr-1780	333	26	noted	note	VERB
cblr-1780	333	27	here	here	ADV
cblr-1780	333	28	.	.	PUNCT
cblr-1780	334	1	the	the	DET
cblr-1780	334	2	more	more	ADV
cblr-1780	334	3	promising	promising	ADJ
cblr-1780	334	4	approach	approach	NOUN
cblr-1780	334	5	,	,	PUNCT
cblr-1780	334	6	however	however	ADV
cblr-1780	334	7	,	,	PUNCT
cblr-1780	334	8	is	be	AUX
cblr-1780	334	9	to	to	PART
cblr-1780	334	10	develop	develop	VERB
cblr-1780	334	11	a	a	DET
cblr-1780	334	12	method	method	NOUN
cblr-1780	334	13	to	to	PART
cblr-1780	334	14	systematically	systematically	ADV
cblr-1780	334	15	evaluate	evaluate	VERB
cblr-1780	334	16	evidence	evidence	NOUN
cblr-1780	334	17	related	relate	VERB
cblr-1780	334	18	to	to	ADP
cblr-1780	334	19	any	any	DET
cblr-1780	334	20	topic	topic	NOUN
cblr-1780	334	21	-	-	PUNCT
cblr-1780	334	22	specific	specific	ADJ
cblr-1780	334	23	disclosure	disclosure	NOUN
cblr-1780	334	24	requirement	requirement	NOUN
cblr-1780	334	25	and	and	CCONJ
cblr-1780	334	26	apply	apply	VERB
cblr-1780	334	27	such	such	DET
cblr-1780	334	28	a	a	DET
cblr-1780	334	29	method	method	NOUN
cblr-1780	334	30	to	to	ADP
cblr-1780	334	31	the	the	DET
cblr-1780	334	32	evaluation	evaluation	NOUN
cblr-1780	334	33	of	of	ADP
cblr-1780	334	34	a	a	DET
cblr-1780	334	35	political	political	ADJ
cblr-1780	334	36	spending	spending	NOUN
cblr-1780	334	37	disclosure	disclosure	NOUN
cblr-1780	334	38	requirement	requirement	NOUN
cblr-1780	334	39	rather	rather	ADV
cblr-1780	334	40	than	than	ADP
cblr-1780	334	41	rely	rely	VERB
cblr-1780	334	42	on	on	ADP
cblr-1780	334	43	analogies.81	analogies.81	PROPN
cblr-1780	334	44	c.	c.	PROPN
cblr-1780	334	45	expressive	expressive	PROPN
cblr-1780	334	46	investor	investor	NOUN
cblr-1780	334	47	protection	protection	NOUN
cblr-1780	334	48	and	and	CCONJ
cblr-1780	334	49	political	political	ADJ
cblr-1780	334	50	spending	spending	NOUN
cblr-1780	334	51	bebchuk	bebchuk	NOUN
cblr-1780	334	52	and	and	CCONJ
cblr-1780	334	53	jackson	jackson	PROPN
cblr-1780	334	54	’s	’s	PART
cblr-1780	334	55	second	second	ADJ
cblr-1780	334	56	main	main	ADJ
cblr-1780	334	57	argument	argument	NOUN
cblr-1780	334	58	for	for	ADP
cblr-1780	334	59	mandating	mandate	VERB
cblr-1780	334	60	the	the	DET
cblr-1780	334	61	disclosure	disclosure	NOUN
cblr-1780	334	62	of	of	ADP
cblr-1780	334	63	political	political	ADJ
cblr-1780	334	64	spending	spending	NOUN
cblr-1780	334	65	by	by	ADP
cblr-1780	334	66	public	public	ADJ
cblr-1780	334	67	companies	company	NOUN
cblr-1780	334	68	is	be	AUX
cblr-1780	334	69	that	that	SCONJ
cblr-1780	334	70	such	such	ADJ
cblr-1780	334	71	disclosure	disclosure	NOUN
cblr-1780	334	72	would	would	AUX
cblr-1780	334	73	provide	provide	VERB
cblr-1780	334	74	shareholders	shareholder	NOUN
cblr-1780	334	75	with	with	ADP
cblr-1780	334	76	the	the	DET
cblr-1780	334	77	information	information	NOUN
cblr-1780	334	78	they	they	PRON
cblr-1780	334	79	need	need	VERB
cblr-1780	334	80	to	to	PART
cblr-1780	334	81	protect	protect	VERB
cblr-1780	334	82	78	78	NUM
cblr-1780	334	83	benjamin	benjamin	PROPN
cblr-1780	334	84	e.	e.	PROPN
cblr-1780	334	85	hermalin	hermalin	PROPN
cblr-1780	334	86	&	&	CCONJ
cblr-1780	334	87	michael	michael	PROPN
cblr-1780	334	88	s.	s.	PROPN
cblr-1780	334	89	weisbach	weisbach	PROPN
cblr-1780	334	90	,	,	PUNCT
cblr-1780	334	91	information	information	NOUN
cblr-1780	334	92	disclosure	disclosure	NOUN
cblr-1780	334	93	and	and	CCONJ
cblr-1780	334	94	corporate	corporate	ADJ
cblr-1780	334	95	governance	governance	NOUN
cblr-1780	334	96	,	,	PUNCT
cblr-1780	334	97	67	67	NUM
cblr-1780	334	98	j.	j.	PROPN
cblr-1780	334	99	fin	fin	PROPN
cblr-1780	334	100	.	.	PUNCT
cblr-1780	335	1	195	195	NUM
cblr-1780	335	2	,	,	PUNCT
cblr-1780	335	3	195	195	NUM
cblr-1780	335	4	(	(	PUNCT
cblr-1780	335	5	2012	2012	NUM
cblr-1780	335	6	)	)	PUNCT
cblr-1780	335	7	.	.	PUNCT
cblr-1780	336	1	79	79	NUM
cblr-1780	336	2	steven	steven	PROPN
cblr-1780	336	3	m.	m.	PROPN
cblr-1780	336	4	davidoff	davidoff	PROPN
cblr-1780	336	5	,	,	PUNCT
cblr-1780	336	6	a	a	DET
cblr-1780	336	7	simple	simple	ADJ
cblr-1780	336	8	solution	solution	NOUN
cblr-1780	336	9	that	that	PRON
cblr-1780	336	10	made	make	VERB
cblr-1780	336	11	a	a	DET
cblr-1780	336	12	hard	hard	ADJ
cblr-1780	336	13	problem	problem	NOUN
cblr-1780	336	14	more	more	ADV
cblr-1780	336	15	difficult	difficult	ADJ
cblr-1780	336	16	,	,	PUNCT
cblr-1780	336	17	n.y	n.y	PROPN
cblr-1780	336	18	.	.	PROPN
cblr-1780	336	19	times	times	PROPN
cblr-1780	336	20	,	,	PUNCT
cblr-1780	336	21	aug	aug	PROPN
cblr-1780	336	22	.	.	PROPN
cblr-1780	336	23	28	28	NUM
cblr-1780	336	24	,	,	PUNCT
cblr-1780	336	25	2013	2013	NUM
cblr-1780	336	26	,	,	PUNCT
cblr-1780	336	27	at	at	ADP
cblr-1780	336	28	b7	b7	PROPN
cblr-1780	336	29	.	.	PUNCT
cblr-1780	337	1	but	but	CCONJ
cblr-1780	337	2	see	see	VERB
cblr-1780	337	3	editorial	editorial	NOUN
cblr-1780	337	4	,	,	PUNCT
cblr-1780	337	5	exposing	expose	VERB
cblr-1780	337	6	the	the	DET
cblr-1780	337	7	pay	pay	NOUN
cblr-1780	337	8	gap	gap	NOUN
cblr-1780	337	9	,	,	PUNCT
cblr-1780	337	10	n.y	n.y	PROPN
cblr-1780	337	11	.	.	PROPN
cblr-1780	337	12	times	times	PROPN
cblr-1780	337	13	,	,	PUNCT
cblr-1780	337	14	sept	sept	PROPN
cblr-1780	337	15	.	.	PROPN
cblr-1780	337	16	25	25	NUM
cblr-1780	337	17	,	,	PUNCT
cblr-1780	337	18	2013	2013	NUM
cblr-1780	337	19	,	,	PUNCT
cblr-1780	337	20	at	at	ADP
cblr-1780	337	21	a28	a28	PROPN
cblr-1780	337	22	(	(	PUNCT
cblr-1780	337	23	arguing	argue	VERB
cblr-1780	337	24	that	that	SCONJ
cblr-1780	337	25	exposing	expose	VERB
cblr-1780	337	26	the	the	DET
cblr-1780	337	27	pay	pay	NOUN
cblr-1780	337	28	gap	gap	NOUN
cblr-1780	337	29	between	between	ADP
cblr-1780	337	30	ceos	ceos	NOUN
cblr-1780	337	31	and	and	CCONJ
cblr-1780	337	32	the	the	DET
cblr-1780	337	33	median	median	ADJ
cblr-1780	337	34	employee	employee	NOUN
cblr-1780	337	35	“	"	PUNCT
cblr-1780	337	36	will	will	AUX
cblr-1780	337	37	be	be	AUX
cblr-1780	337	38	enormously	enormously	ADV
cblr-1780	337	39	helpful	helpful	ADJ
cblr-1780	337	40	.	.	PUNCT
cblr-1780	337	41	”	"	PUNCT
cblr-1780	337	42	)	)	PUNCT
cblr-1780	337	43	.	.	PUNCT
cblr-1780	338	1	80	80	NUM
cblr-1780	338	2	ralph	ralph	PROPN
cblr-1780	338	3	waldo	waldo	PROPN
cblr-1780	338	4	emerson	emerson	PROPN
cblr-1780	338	5	,	,	PUNCT
cblr-1780	338	6	the	the	DET
cblr-1780	338	7	selected	select	VERB
cblr-1780	338	8	writings	writing	NOUN
cblr-1780	338	9	of	of	ADP
cblr-1780	338	10	ralph	ralph	PROPN
cblr-1780	338	11	waldo	waldo	PROPN
cblr-1780	338	12	emerson	emerson	PROPN
cblr-1780	338	13	138	138	NUM
cblr-1780	338	14	(	(	PUNCT
cblr-1780	338	15	brooks	brooks	PROPN
cblr-1780	338	16	atkinson	atkinson	PROPN
cblr-1780	338	17	ed	ed	PROPN
cblr-1780	338	18	.	.	PROPN
cblr-1780	338	19	,	,	PUNCT
cblr-1780	338	20	1992	1992	NUM
cblr-1780	338	21	)	)	PUNCT
cblr-1780	338	22	.	.	PUNCT
cblr-1780	339	1	81	81	NUM
cblr-1780	339	2	see	see	VERB
cblr-1780	339	3	infra	infra	NOUN
cblr-1780	339	4	parts	part	NOUN
cblr-1780	339	5	iii	iii	X
cblr-1780	339	6	and	and	CCONJ
cblr-1780	339	7	iv	iv	PROPN
cblr-1780	339	8	.	.	PROPN
cblr-1780	339	9	bebchuk	bebchuk	PROPN
cblr-1780	339	10	and	and	CCONJ
cblr-1780	339	11	jackson	jackson	PROPN
cblr-1780	339	12	probably	probably	ADV
cblr-1780	339	13	recognize	recognize	VERB
cblr-1780	339	14	limitations	limitation	NOUN
cblr-1780	339	15	in	in	ADP
cblr-1780	339	16	relying	rely	VERB
cblr-1780	339	17	solely	solely	ADV
cblr-1780	339	18	on	on	ADP
cblr-1780	339	19	an	an	DET
cblr-1780	339	20	argument	argument	NOUN
cblr-1780	339	21	by	by	ADP
cblr-1780	339	22	analogy	analogy	NOUN
cblr-1780	339	23	to	to	PART
cblr-1780	339	24	justify	justify	VERB
cblr-1780	339	25	requiring	require	VERB
cblr-1780	339	26	the	the	DET
cblr-1780	339	27	disclosure	disclosure	NOUN
cblr-1780	339	28	of	of	ADP
cblr-1780	339	29	political	political	ADJ
cblr-1780	339	30	spending	spending	NOUN
cblr-1780	339	31	by	by	ADP
cblr-1780	339	32	public	public	ADJ
cblr-1780	339	33	companies	company	NOUN
cblr-1780	339	34	,	,	PUNCT
cblr-1780	339	35	which	which	PRON
cblr-1780	339	36	is	be	AUX
cblr-1780	339	37	why	why	SCONJ
cblr-1780	339	38	their	their	PRON
cblr-1780	339	39	discussion	discussion	NOUN
cblr-1780	339	40	also	also	ADV
cblr-1780	339	41	includes	include	VERB
cblr-1780	339	42	more	more	ADJ
cblr-1780	339	43	fundamental	fundamental	ADJ
cblr-1780	339	44	justifications	justification	NOUN
cblr-1780	339	45	for	for	ADP
cblr-1780	339	46	imposing	impose	VERB
cblr-1780	339	47	mandatory	mandatory	ADJ
cblr-1780	339	48	disclosure	disclosure	NOUN
cblr-1780	339	49	requirements	requirement	NOUN
cblr-1780	339	50	.	.	PUNCT
cblr-1780	340	1	see	see	VERB
cblr-1780	340	2	infra	infra	NOUN
cblr-1780	340	3	part	part	NOUN
cblr-1780	340	4	ii.e	ii.e	ADV
cblr-1780	340	5	.	.	PUNCT
cblr-1780	341	1	guttentag	guttentag	NOUN
cblr-1780	341	2	–	–	PUNCT
cblr-1780	341	3	final	final	ADJ
cblr-1780	341	4	no	no	NOUN
cblr-1780	341	5	.	.	PUNCT
cblr-1780	342	1	3:593	3:593	NUM
cblr-1780	342	2	]	]	PUNCT
cblr-1780	342	3	on	on	ADP
cblr-1780	342	4	political	political	ADJ
cblr-1780	342	5	spending	spending	NOUN
cblr-1780	342	6	disclosure	disclosure	NOUN
cblr-1780	342	7	617	617	NUM
cblr-1780	342	8	themselves	themselves	PRON
cblr-1780	342	9	from	from	ADP
cblr-1780	342	10	investing	invest	VERB
cblr-1780	342	11	in	in	ADP
cblr-1780	342	12	firms	firm	NOUN
cblr-1780	342	13	supporting	support	VERB
cblr-1780	342	14	political	political	ADJ
cblr-1780	342	15	causes	cause	NOUN
cblr-1780	342	16	they	they	PRON
cblr-1780	342	17	find	find	VERB
cblr-1780	342	18	objectionable	objectionable	ADJ
cblr-1780	342	19	.	.	PUNCT
cblr-1780	343	1	this	this	DET
cblr-1780	343	2	second	second	ADJ
cblr-1780	343	3	argument	argument	NOUN
cblr-1780	343	4	might	might	AUX
cblr-1780	343	5	be	be	AUX
cblr-1780	343	6	described	describe	VERB
cblr-1780	343	7	in	in	ADP
cblr-1780	343	8	terms	term	NOUN
cblr-1780	343	9	of	of	ADP
cblr-1780	343	10	expressive	expressive	ADJ
cblr-1780	343	11	investor	investor	NOUN
cblr-1780	343	12	protection,82	protection,82	NOUN
cblr-1780	343	13	and	and	CCONJ
cblr-1780	343	14	emphasizes	emphasize	VERB
cblr-1780	343	15	the	the	DET
cblr-1780	343	16	expressive	expressive	ADJ
cblr-1780	343	17	,	,	PUNCT
cblr-1780	343	18	rather	rather	ADV
cblr-1780	343	19	than	than	ADP
cblr-1780	343	20	economic	economic	ADJ
cblr-1780	343	21	,	,	PUNCT
cblr-1780	343	22	benefits	benefit	VERB
cblr-1780	343	23	political	political	ADJ
cblr-1780	343	24	spending	spending	NOUN
cblr-1780	343	25	disclosure	disclosure	NOUN
cblr-1780	343	26	can	can	AUX
cblr-1780	343	27	provide	provide	VERB
cblr-1780	343	28	to	to	ADP
cblr-1780	343	29	the	the	DET
cblr-1780	343	30	firm	firm	NOUN
cblr-1780	343	31	’s	’s	PART
cblr-1780	343	32	shareholders	shareholder	NOUN
cblr-1780	343	33	.	.	PUNCT
cblr-1780	344	1	this	this	DET
cblr-1780	344	2	expressive	expressive	ADJ
cblr-1780	344	3	investor	investor	NOUN
cblr-1780	344	4	protection	protection	NOUN
cblr-1780	344	5	argument	argument	NOUN
cblr-1780	344	6	for	for	ADP
cblr-1780	344	7	political	political	ADJ
cblr-1780	344	8	spending	spending	NOUN
cblr-1780	344	9	disclosure	disclosure	NOUN
cblr-1780	344	10	first	first	ADV
cblr-1780	344	11	appears	appear	VERB
cblr-1780	344	12	in	in	ADP
cblr-1780	344	13	who	who	PRON
cblr-1780	344	14	decides	decide	VERB
cblr-1780	344	15	.	.	PUNCT
cblr-1780	345	1	there	there	ADV
cblr-1780	345	2	,	,	PUNCT
cblr-1780	345	3	bebchuk	bebchuk	PROPN
cblr-1780	345	4	and	and	CCONJ
cblr-1780	345	5	jackson	jackson	PROPN
cblr-1780	345	6	observe	observe	VERB
cblr-1780	345	7	that	that	SCONJ
cblr-1780	345	8	“	"	PUNCT
cblr-1780	345	9	shareholders	shareholder	NOUN
cblr-1780	345	10	may	may	AUX
cblr-1780	345	11	attach	attach	VERB
cblr-1780	345	12	expressive	expressive	ADJ
cblr-1780	345	13	significance	significance	NOUN
cblr-1780	345	14	to	to	ADP
cblr-1780	345	15	corporate	corporate	ADJ
cblr-1780	345	16	political	political	ADJ
cblr-1780	345	17	speech	speech	NOUN
cblr-1780	345	18	that	that	PRON
cblr-1780	345	19	goes	go	VERB
cblr-1780	345	20	far	far	ADV
cblr-1780	345	21	beyond	beyond	ADP
cblr-1780	345	22	the	the	DET
cblr-1780	345	23	amount	amount	NOUN
cblr-1780	345	24	spent	spend	VERB
cblr-1780	345	25	.	.	PUNCT
cblr-1780	346	1	”83	”83	VERB
cblr-1780	346	2	the	the	DET
cblr-1780	346	3	potential	potential	ADJ
cblr-1780	346	4	expressive	expressive	ADJ
cblr-1780	346	5	significance	significance	NOUN
cblr-1780	346	6	of	of	ADP
cblr-1780	346	7	corporate	corporate	ADJ
cblr-1780	346	8	political	political	ADJ
cblr-1780	346	9	spending	spending	NOUN
cblr-1780	346	10	is	be	AUX
cblr-1780	346	11	also	also	ADV
cblr-1780	346	12	discussed	discuss	VERB
cblr-1780	346	13	in	in	ADP
cblr-1780	346	14	shining	shine	VERB
cblr-1780	346	15	light	light	NOUN
cblr-1780	346	16	where	where	SCONJ
cblr-1780	346	17	bebchuk	bebchuk	NOUN
cblr-1780	346	18	and	and	CCONJ
cblr-1780	346	19	jackson	jackson	PROPN
cblr-1780	346	20	highlight	highlight	PROPN
cblr-1780	346	21	both	both	CCONJ
cblr-1780	346	22	the	the	DET
cblr-1780	346	23	“	"	PUNCT
cblr-1780	346	24	unique	unique	ADJ
cblr-1780	346	25	expressive	expressive	ADJ
cblr-1780	346	26	significance	significance	NOUN
cblr-1780	346	27	for	for	ADP
cblr-1780	346	28	shareholders	shareholder	NOUN
cblr-1780	346	29	”	"	PUNCT
cblr-1780	346	30	of	of	ADP
cblr-1780	346	31	this	this	DET
cblr-1780	346	32	type	type	NOUN
cblr-1780	346	33	of	of	ADP
cblr-1780	346	34	spending	spending	NOUN
cblr-1780	346	35	and	and	CCONJ
cblr-1780	346	36	that	that	SCONJ
cblr-1780	346	37	some	some	DET
cblr-1780	346	38	shareholders	shareholder	NOUN
cblr-1780	346	39	may	may	AUX
cblr-1780	346	40	have	have	VERB
cblr-1780	346	41	“	"	PUNCT
cblr-1780	346	42	a	a	DET
cblr-1780	346	43	strong	strong	ADJ
cblr-1780	346	44	interest	interest	NOUN
cblr-1780	346	45	in	in	ADP
cblr-1780	346	46	not	not	PART
cblr-1780	346	47	being	be	AUX
cblr-1780	346	48	associated	associate	VERB
cblr-1780	346	49	with	with	ADP
cblr-1780	346	50	political	political	ADJ
cblr-1780	346	51	speech	speech	NOUN
cblr-1780	346	52	they	they	PRON
cblr-1780	346	53	oppose	oppose	VERB
cblr-1780	346	54	.	.	PUNCT
cblr-1780	347	1	”84	”84	NOUN
cblr-1780	347	2	as	as	SCONJ
cblr-1780	347	3	they	they	PRON
cblr-1780	347	4	do	do	VERB
cblr-1780	347	5	with	with	ADP
cblr-1780	347	6	their	their	PRON
cblr-1780	347	7	argument	argument	NOUN
cblr-1780	347	8	by	by	ADP
cblr-1780	347	9	analogy	analogy	NOUN
cblr-1780	347	10	,	,	PUNCT
cblr-1780	347	11	bebchuk	bebchuk	PROPN
cblr-1780	347	12	and	and	CCONJ
cblr-1780	347	13	jackson	jackson	PROPN
cblr-1780	347	14	provide	provide	VERB
cblr-1780	347	15	a	a	DET
cblr-1780	347	16	precedent	precedent	NOUN
cblr-1780	347	17	in	in	ADP
cblr-1780	347	18	securities	security	NOUN
cblr-1780	347	19	regulation	regulation	NOUN
cblr-1780	347	20	policymaking	policymake	VERB
cblr-1780	347	21	for	for	ADP
cblr-1780	347	22	granting	grant	VERB
cblr-1780	347	23	special	special	ADJ
cblr-1780	347	24	weight	weight	NOUN
cblr-1780	347	25	to	to	ADP
cblr-1780	347	26	activities	activity	NOUN
cblr-1780	347	27	that	that	PRON
cblr-1780	347	28	might	might	AUX
cblr-1780	347	29	affect	affect	VERB
cblr-1780	347	30	the	the	DET
cblr-1780	347	31	expressive	expressive	ADJ
cblr-1780	347	32	interests	interest	NOUN
cblr-1780	347	33	of	of	ADP
cblr-1780	347	34	a	a	DET
cblr-1780	347	35	firm	firm	NOUN
cblr-1780	347	36	’s	’s	PART
cblr-1780	347	37	shareholders	shareholder	NOUN
cblr-1780	347	38	.	.	PUNCT
cblr-1780	348	1	the	the	DET
cblr-1780	348	2	precedent	precedent	NOUN
cblr-1780	348	3	they	they	PRON
cblr-1780	348	4	cite	cite	VERB
cblr-1780	348	5	is	be	AUX
cblr-1780	348	6	the	the	DET
cblr-1780	348	7	shareholder	shareholder	NOUN
cblr-1780	348	8	proposal	proposal	NOUN
cblr-1780	348	9	process.85	process.85	NOUN
cblr-1780	348	10	the	the	DET
cblr-1780	348	11	sec	sec	PROPN
cblr-1780	348	12	put	put	VERB
cblr-1780	348	13	in	in	ADP
cblr-1780	348	14	place	place	NOUN
cblr-1780	348	15	a	a	DET
cblr-1780	348	16	formal	formal	ADJ
cblr-1780	348	17	system	system	NOUN
cblr-1780	348	18	in	in	ADP
cblr-1780	348	19	1942	1942	NUM
cblr-1780	348	20	that	that	PRON
cblr-1780	348	21	allowed	allow	VERB
cblr-1780	348	22	firm	firm	ADJ
cblr-1780	348	23	shareholders	shareholder	NOUN
cblr-1780	348	24	to	to	PART
cblr-1780	348	25	place	place	VERB
cblr-1780	348	26	a	a	DET
cblr-1780	348	27	brief	brief	ADJ
cblr-1780	348	28	proposal	proposal	NOUN
cblr-1780	348	29	in	in	ADP
cblr-1780	348	30	the	the	DET
cblr-1780	348	31	firm	firm	NOUN
cblr-1780	348	32	’s	’s	PART
cblr-1780	348	33	annual	annual	ADJ
cblr-1780	348	34	proxy	proxy	ADJ
cblr-1780	348	35	statement	statement	NOUN
cblr-1780	348	36	for	for	SCONJ
cblr-1780	348	37	shareholder	shareholder	NOUN
cblr-1780	348	38	vote.86	vote.86	NOUN
cblr-1780	348	39	to	to	PART
cblr-1780	348	40	be	be	AUX
cblr-1780	348	41	included	include	VERB
cblr-1780	348	42	in	in	ADP
cblr-1780	348	43	the	the	DET
cblr-1780	348	44	82	82	NUM
cblr-1780	348	45	see	see	NOUN
cblr-1780	348	46	supra	supra	PROPN
cblr-1780	348	47	note	note	PROPN
cblr-1780	349	1	48	48	NUM
cblr-1780	349	2	.	.	NOUN
cblr-1780	350	1	83	83	NUM
cblr-1780	350	2	bebchuk	bebchuk	PROPN
cblr-1780	350	3	&	&	CCONJ
cblr-1780	350	4	jackson	jackson	PROPN
cblr-1780	350	5	,	,	PUNCT
cblr-1780	350	6	who	who	PRON
cblr-1780	350	7	decides	decide	VERB
cblr-1780	350	8	,	,	PUNCT
cblr-1780	350	9	supra	supra	PROPN
cblr-1780	350	10	note	note	NOUN
cblr-1780	350	11	23	23	NUM
cblr-1780	350	12	,	,	PUNCT
cblr-1780	350	13	at	at	ADP
cblr-1780	350	14	96	96	NUM
cblr-1780	350	15	.	.	PUNCT
cblr-1780	351	1	see	see	VERB
cblr-1780	351	2	also	also	ADV
cblr-1780	351	3	bebchuk	bebchuk	PROPN
cblr-1780	351	4	&	&	CCONJ
cblr-1780	351	5	jackson	jackson	PROPN
cblr-1780	351	6	,	,	PUNCT
cblr-1780	351	7	shining	shine	VERB
cblr-1780	351	8	light	light	NOUN
cblr-1780	351	9	,	,	PUNCT
cblr-1780	351	10	supra	supra	PROPN
cblr-1780	351	11	note	note	NOUN
cblr-1780	351	12	27	27	NUM
cblr-1780	351	13	,	,	PUNCT
cblr-1780	351	14	at	at	ADP
cblr-1780	351	15	927	927	NUM
cblr-1780	351	16	(	(	PUNCT
cblr-1780	351	17	“	"	PUNCT
cblr-1780	351	18	[	[	X
cblr-1780	351	19	b]ecause	b]ecause	NOUN
cblr-1780	351	20	of	of	ADP
cblr-1780	351	21	the	the	DET
cblr-1780	351	22	expressive	expressive	ADJ
cblr-1780	351	23	significance	significance	NOUN
cblr-1780	351	24	of	of	ADP
cblr-1780	351	25	political	political	ADJ
cblr-1780	351	26	spending	spending	NOUN
cblr-1780	351	27	,	,	PUNCT
cblr-1780	351	28	shareholders	shareholder	NOUN
cblr-1780	351	29	may	may	AUX
cblr-1780	351	30	attach	attach	VERB
cblr-1780	351	31	greater	great	ADJ
cblr-1780	351	32	importance	importance	NOUN
cblr-1780	351	33	,	,	PUNCT
cblr-1780	351	34	beyond	beyond	ADP
cblr-1780	351	35	the	the	DET
cblr-1780	351	36	amounts	amount	NOUN
cblr-1780	351	37	spent	spend	VERB
cblr-1780	351	38	,	,	PUNCT
cblr-1780	351	39	to	to	ADP
cblr-1780	351	40	political	political	ADJ
cblr-1780	351	41	spending	spending	NOUN
cblr-1780	351	42	that	that	PRON
cblr-1780	351	43	deviates	deviate	VERB
cblr-1780	351	44	from	from	ADP
cblr-1780	351	45	their	their	PRON
cblr-1780	351	46	preferences	preference	NOUN
cblr-1780	351	47	.	.	PUNCT
cblr-1780	351	48	”	"	PUNCT
cblr-1780	351	49	)	)	PUNCT
cblr-1780	351	50	.	.	PUNCT
cblr-1780	352	1	84	84	NUM
cblr-1780	352	2	bebchuk	bebchuk	PROPN
cblr-1780	352	3	&	&	CCONJ
cblr-1780	352	4	jackson	jackson	PROPN
cblr-1780	352	5	,	,	PUNCT
cblr-1780	352	6	shining	shine	VERB
cblr-1780	352	7	light	light	NOUN
cblr-1780	352	8	,	,	PUNCT
cblr-1780	352	9	supra	supra	PROPN
cblr-1780	352	10	note	note	NOUN
cblr-1780	352	11	27	27	NUM
cblr-1780	352	12	,	,	PUNCT
cblr-1780	352	13	at	at	ADP
cblr-1780	352	14	943	943	NUM
cblr-1780	352	15	.	.	NOUN
cblr-1780	352	16	85	85	NUM
cblr-1780	352	17	bebchuk	bebchuk	PROPN
cblr-1780	352	18	&	&	CCONJ
cblr-1780	352	19	jackson	jackson	PROPN
cblr-1780	352	20	,	,	PUNCT
cblr-1780	352	21	who	who	PRON
cblr-1780	352	22	decides	decide	VERB
cblr-1780	352	23	,	,	PUNCT
cblr-1780	352	24	supra	supra	PROPN
cblr-1780	352	25	note	note	NOUN
cblr-1780	352	26	23	23	NUM
cblr-1780	352	27	,	,	PUNCT
cblr-1780	352	28	at	at	ADP
cblr-1780	352	29	96	96	NUM
cblr-1780	352	30	;	;	PUNCT
cblr-1780	352	31	bebchuk	bebchuk	PROPN
cblr-1780	352	32	&	&	CCONJ
cblr-1780	352	33	jackson	jackson	PROPN
cblr-1780	352	34	,	,	PUNCT
cblr-1780	352	35	shining	shine	VERB
cblr-1780	352	36	light	light	NOUN
cblr-1780	352	37	,	,	PUNCT
cblr-1780	352	38	supra	supra	PROPN
cblr-1780	352	39	note	note	NOUN
cblr-1780	352	40	27	27	NUM
cblr-1780	352	41	,	,	PUNCT
cblr-1780	352	42	at	at	ADP
cblr-1780	352	43	938	938	NUM
cblr-1780	352	44	.	.	PUNCT
cblr-1780	352	45	86	86	NUM
cblr-1780	352	46	for	for	ADP
cblr-1780	352	47	a	a	DET
cblr-1780	352	48	review	review	NOUN
cblr-1780	352	49	of	of	ADP
cblr-1780	352	50	the	the	DET
cblr-1780	352	51	history	history	NOUN
cblr-1780	352	52	of	of	ADP
cblr-1780	352	53	the	the	DET
cblr-1780	352	54	shareholder	shareholder	NOUN
cblr-1780	352	55	proposal	proposal	NOUN
cblr-1780	352	56	process	process	NOUN
cblr-1780	352	57	,	,	PUNCT
cblr-1780	352	58	see	see	VERB
cblr-1780	352	59	maya	maya	PROPN
cblr-1780	352	60	mueller	mueller	PROPN
cblr-1780	352	61	,	,	PUNCT
cblr-1780	352	62	the	the	DET
cblr-1780	352	63	shareholder	shareholder	NOUN
cblr-1780	352	64	proposal	proposal	NOUN
cblr-1780	352	65	rule	rule	NOUN
cblr-1780	352	66	:	:	PUNCT
cblr-1780	352	67	cracker	cracker	NOUN
cblr-1780	352	68	barrel	barrel	NOUN
cblr-1780	352	69	,	,	PUNCT
cblr-1780	352	70	institutional	institutional	ADJ
cblr-1780	352	71	investors	investor	NOUN
cblr-1780	352	72	,	,	PUNCT
cblr-1780	352	73	and	and	CCONJ
cblr-1780	352	74	the	the	DET
cblr-1780	352	75	1998	1998	NUM
cblr-1780	352	76	amendments	amendment	NOUN
cblr-1780	352	77	,	,	PUNCT
cblr-1780	352	78	28	28	NUM
cblr-1780	352	79	stetson	stetson	NOUN
cblr-1780	352	80	l.	l.	PROPN
cblr-1780	352	81	rev	rev	PROPN
cblr-1780	352	82	.	.	PROPN
cblr-1780	352	83	451	451	NUM
cblr-1780	352	84	,	,	PUNCT
cblr-1780	352	85	456–67	456–67	NUM
cblr-1780	352	86	(	(	PUNCT
cblr-1780	352	87	1998	1998	NUM
cblr-1780	352	88	)	)	PUNCT
cblr-1780	352	89	.	.	PUNCT
cblr-1780	353	1	for	for	ADP
cblr-1780	353	2	a	a	DET
cblr-1780	353	3	recent	recent	ADJ
cblr-1780	353	4	critique	critique	NOUN
cblr-1780	353	5	of	of	ADP
cblr-1780	353	6	this	this	DET
cblr-1780	353	7	process	process	NOUN
cblr-1780	353	8	,	,	PUNCT
cblr-1780	353	9	see	see	VERB
cblr-1780	353	10	leo	leo	PROPN
cblr-1780	353	11	e.	e.	PROPN
cblr-1780	353	12	strine	strine	PROPN
cblr-1780	353	13	,	,	PUNCT
cblr-1780	353	14	jr	jr	PROPN
cblr-1780	353	15	.	.	PROPN
cblr-1780	353	16	,	,	PUNCT
cblr-1780	353	17	can	can	AUX
cblr-1780	353	18	we	we	PRON
cblr-1780	353	19	do	do	VERB
cblr-1780	353	20	better	well	ADV
cblr-1780	353	21	by	by	ADP
cblr-1780	353	22	ordinary	ordinary	ADJ
cblr-1780	353	23	investors	investor	NOUN
cblr-1780	353	24	?	?	PUNCT
cblr-1780	354	1	a	a	DET
cblr-1780	354	2	pragmatic	pragmatic	ADJ
cblr-1780	354	3	reaction	reaction	NOUN
cblr-1780	354	4	to	to	ADP
cblr-1780	354	5	the	the	DET
cblr-1780	354	6	guttentag	guttentag	NOUN
cblr-1780	354	7	–	–	PUNCT
cblr-1780	354	8	final	final	ADJ
cblr-1780	354	9	618	618	NUM
cblr-1780	354	10	columbia	columbia	PROPN
cblr-1780	354	11	business	business	NOUN
cblr-1780	354	12	law	law	PROPN
cblr-1780	354	13	review	review	NOUN
cblr-1780	355	1	[	[	X
cblr-1780	355	2	vol	vol	NOUN
cblr-1780	355	3	.	.	PUNCT
cblr-1780	355	4	2014	2014	NUM
cblr-1780	355	5	firm	firm	NOUN
cblr-1780	355	6	’s	’s	PART
cblr-1780	355	7	annual	annual	ADJ
cblr-1780	355	8	proxy	proxy	ADJ
cblr-1780	355	9	statement	statement	NOUN
cblr-1780	355	10	,	,	PUNCT
cblr-1780	355	11	both	both	CCONJ
cblr-1780	355	12	the	the	DET
cblr-1780	355	13	shareholder	shareholder	NOUN
cblr-1780	355	14	and	and	CCONJ
cblr-1780	355	15	the	the	DET
cblr-1780	355	16	proposal	proposal	NOUN
cblr-1780	355	17	need	need	VERB
cblr-1780	355	18	to	to	PART
cblr-1780	355	19	meet	meet	VERB
cblr-1780	355	20	various	various	ADJ
cblr-1780	355	21	criteria.87	criteria.87	PROPN
cblr-1780	355	22	bebchuk	bebchuk	NOUN
cblr-1780	355	23	and	and	CCONJ
cblr-1780	355	24	jackson	jackson	PROPN
cblr-1780	355	25	correctly	correctly	ADV
cblr-1780	355	26	observe	observe	VERB
cblr-1780	355	27	that	that	SCONJ
cblr-1780	355	28	the	the	DET
cblr-1780	355	29	criteria	criterion	NOUN
cblr-1780	355	30	used	use	VERB
cblr-1780	355	31	to	to	PART
cblr-1780	355	32	evaluate	evaluate	VERB
cblr-1780	355	33	whether	whether	SCONJ
cblr-1780	355	34	a	a	DET
cblr-1780	355	35	firm	firm	NOUN
cblr-1780	355	36	is	be	AUX
cblr-1780	355	37	required	require	VERB
cblr-1780	355	38	to	to	PART
cblr-1780	355	39	include	include	VERB
cblr-1780	355	40	a	a	DET
cblr-1780	355	41	particular	particular	ADJ
cblr-1780	355	42	proposal	proposal	NOUN
cblr-1780	355	43	in	in	ADP
cblr-1780	355	44	the	the	DET
cblr-1780	355	45	firm	firm	NOUN
cblr-1780	355	46	’s	’s	PART
cblr-1780	355	47	proxy	proxy	ADJ
cblr-1780	355	48	materials	material	NOUN
cblr-1780	355	49	include	include	VERB
cblr-1780	355	50	expressive	expressive	ADJ
cblr-1780	355	51	investor	investor	NOUN
cblr-1780	355	52	protection	protection	NOUN
cblr-1780	355	53	concerns	concern	NOUN
cblr-1780	355	54	.	.	PUNCT
cblr-1780	356	1	more	more	ADV
cblr-1780	356	2	specifically	specifically	ADV
cblr-1780	356	3	,	,	PUNCT
cblr-1780	356	4	rule	rule	NOUN
cblr-1780	356	5	14a-8(i)(5	14a-8(i)(5	NOUN
cblr-1780	356	6	)	)	PUNCT
cblr-1780	356	7	of	of	ADP
cblr-1780	356	8	the	the	DET
cblr-1780	356	9	exchange	exchange	NOUN
cblr-1780	356	10	act	act	NOUN
cblr-1780	356	11	allows	allow	VERB
cblr-1780	356	12	firms	firm	NOUN
cblr-1780	356	13	to	to	PART
cblr-1780	356	14	exclude	exclude	VERB
cblr-1780	356	15	shareholder	shareholder	NOUN
cblr-1780	356	16	proposals	proposal	NOUN
cblr-1780	356	17	from	from	ADP
cblr-1780	356	18	the	the	DET
cblr-1780	356	19	firm	firm	NOUN
cblr-1780	356	20	’s	’s	PART
cblr-1780	356	21	proxy	proxy	ADJ
cblr-1780	356	22	statement	statement	NOUN
cblr-1780	356	23	if	if	SCONJ
cblr-1780	356	24	the	the	DET
cblr-1780	356	25	issues	issue	NOUN
cblr-1780	356	26	raised	raise	VERB
cblr-1780	356	27	by	by	ADP
cblr-1780	356	28	the	the	DET
cblr-1780	356	29	proposal	proposal	NOUN
cblr-1780	356	30	are	be	AUX
cblr-1780	356	31	not	not	PART
cblr-1780	356	32	material	material	ADJ
cblr-1780	356	33	to	to	ADP
cblr-1780	356	34	shareholders	shareholder	NOUN
cblr-1780	356	35	;	;	PUNCT
cblr-1780	356	36	however	however	ADV
cblr-1780	356	37	,	,	PUNCT
cblr-1780	356	38	this	this	DET
cblr-1780	356	39	basis	basis	NOUN
cblr-1780	356	40	for	for	ADP
cblr-1780	356	41	exclusion	exclusion	NOUN
cblr-1780	356	42	of	of	ADP
cblr-1780	356	43	a	a	DET
cblr-1780	356	44	shareholder	shareholder	NOUN
cblr-1780	356	45	proposal	proposal	NOUN
cblr-1780	356	46	is	be	AUX
cblr-1780	356	47	not	not	PART
cblr-1780	356	48	available	available	ADJ
cblr-1780	356	49	if	if	SCONJ
cblr-1780	356	50	the	the	DET
cblr-1780	356	51	proposal	proposal	NOUN
cblr-1780	356	52	involves	involve	VERB
cblr-1780	356	53	firm	firm	ADJ
cblr-1780	356	54	operations	operation	NOUN
cblr-1780	356	55	that	that	PRON
cblr-1780	356	56	are	be	AUX
cblr-1780	356	57	“	"	PUNCT
cblr-1780	356	58	otherwise	otherwise	ADV
cblr-1780	356	59	significantly	significantly	ADV
cblr-1780	356	60	related	relate	VERB
cblr-1780	356	61	to	to	ADP
cblr-1780	356	62	the	the	DET
cblr-1780	356	63	company	company	NOUN
cblr-1780	356	64	’s	’s	PART
cblr-1780	356	65	business	business	NOUN
cblr-1780	356	66	.	.	PUNCT
cblr-1780	357	1	”88	”88	ADJ
cblr-1780	357	2	in	in	ADP
cblr-1780	357	3	lovenheim	lovenheim	PROPN
cblr-1780	357	4	v.	v.	ADP
cblr-1780	357	5	iroquois	iroquois	PROPN
cblr-1780	357	6	brands	brands	PROPN
cblr-1780	357	7	ltd	ltd	PROPN
cblr-1780	357	8	.	.	PROPN
cblr-1780	357	9	,	,	PUNCT
cblr-1780	357	10	a	a	DET
cblr-1780	357	11	district	district	NOUN
cblr-1780	357	12	court	court	NOUN
cblr-1780	357	13	interpreted	interpret	VERB
cblr-1780	357	14	the	the	DET
cblr-1780	357	15	“	"	PUNCT
cblr-1780	357	16	otherwise	otherwise	ADV
cblr-1780	357	17	significantly	significantly	ADV
cblr-1780	357	18	related	relate	VERB
cblr-1780	357	19	”	"	PUNCT
cblr-1780	357	20	language	language	NOUN
cblr-1780	357	21	as	as	ADP
cblr-1780	357	22	requiring	require	VERB
cblr-1780	357	23	a	a	DET
cblr-1780	357	24	firm	firm	NOUN
cblr-1780	357	25	to	to	PART
cblr-1780	357	26	include	include	VERB
cblr-1780	357	27	a	a	DET
cblr-1780	357	28	proposal	proposal	NOUN
cblr-1780	357	29	involving	involve	VERB
cblr-1780	357	30	the	the	DET
cblr-1780	357	31	method	method	NOUN
cblr-1780	357	32	of	of	ADP
cblr-1780	357	33	preparing	prepare	VERB
cblr-1780	357	34	fois	fois	ADJ
cblr-1780	357	35	gras	gras	PROPN
cblr-1780	357	36	,	,	PUNCT
cblr-1780	357	37	even	even	ADV
cblr-1780	357	38	though	though	SCONJ
cblr-1780	357	39	the	the	DET
cblr-1780	357	40	financial	financial	ADJ
cblr-1780	357	41	value	value	NOUN
cblr-1780	357	42	of	of	ADP
cblr-1780	357	43	the	the	DET
cblr-1780	357	44	business	business	NOUN
cblr-1780	357	45	to	to	ADP
cblr-1780	357	46	the	the	DET
cblr-1780	357	47	firm	firm	NOUN
cblr-1780	357	48	was	be	AUX
cblr-1780	357	49	minimal.89	minimal.89	NOUN
cblr-1780	357	50	as	as	SCONJ
cblr-1780	357	51	john	john	PROPN
cblr-1780	357	52	coffee	coffee	PROPN
cblr-1780	357	53	and	and	CCONJ
cblr-1780	357	54	hillary	hillary	PROPN
cblr-1780	357	55	sale	sale	NOUN
cblr-1780	357	56	explain	explain	VERB
cblr-1780	357	57	in	in	ADP
cblr-1780	357	58	their	their	PRON
cblr-1780	357	59	securities	security	NOUN
cblr-1780	357	60	regulation	regulation	NOUN
cblr-1780	357	61	textbook	textbook	NOUN
cblr-1780	357	62	,	,	PUNCT
cblr-1780	357	63	shareholder	shareholder	NOUN
cblr-1780	357	64	proposals	proposal	NOUN
cblr-1780	357	65	can	can	AUX
cblr-1780	357	66	“	"	PUNCT
cblr-1780	357	67	survive	survive	VERB
cblr-1780	357	68	exclusion	exclusion	NOUN
cblr-1780	357	69	due	due	ADJ
cblr-1780	357	70	to	to	ADP
cblr-1780	357	71	social	social	ADJ
cblr-1780	357	72	and	and	CCONJ
cblr-1780	357	73	political	political	ADJ
cblr-1780	357	74	reasons	reason	NOUN
cblr-1780	357	75	.	.	PUNCT
cblr-1780	358	1	”90	”90	PROPN
cblr-1780	358	2	bebchuk	bebchuk	PROPN
cblr-1780	358	3	and	and	CCONJ
cblr-1780	358	4	jackson	jackson	PROPN
cblr-1780	358	5	conclude	conclude	VERB
cblr-1780	358	6	that	that	SCONJ
cblr-1780	358	7	expressive	expressive	ADJ
cblr-1780	358	8	investor	investor	NOUN
cblr-1780	358	9	protection	protection	NOUN
cblr-1780	358	10	concerns	concern	NOUN
cblr-1780	358	11	similarly	similarly	ADV
cblr-1780	358	12	justify	justify	VERB
cblr-1780	358	13	requiring	require	VERB
cblr-1780	358	14	the	the	DET
cblr-1780	358	15	disclosure	disclosure	NOUN
cblr-1780	358	16	of	of	ADP
cblr-1780	358	17	political	political	ADJ
cblr-1780	358	18	spending	spending	NOUN
cblr-1780	358	19	by	by	ADP
cblr-1780	358	20	public	public	ADJ
cblr-1780	358	21	firms	firm	NOUN
cblr-1780	358	22	regardless	regardless	ADV
cblr-1780	358	23	of	of	ADP
cblr-1780	358	24	the	the	DET
cblr-1780	358	25	dollar	dollar	NOUN
cblr-1780	358	26	amounts	amount	NOUN
cblr-1780	358	27	involved	involve	VERB
cblr-1780	358	28	.	.	PUNCT
cblr-1780	359	1	dueling	duel	VERB
cblr-1780	359	2	ideological	ideological	ADJ
cblr-1780	359	3	mythologists	mythologist	NOUN
cblr-1780	359	4	of	of	ADP
cblr-1780	359	5	corporate	corporate	ADJ
cblr-1780	359	6	law	law	NOUN
cblr-1780	359	7	,	,	PUNCT
cblr-1780	359	8	114	114	NUM
cblr-1780	359	9	colum	colum	NOUN
cblr-1780	359	10	.	.	PUNCT
cblr-1780	360	1	l.	l.	PROPN
cblr-1780	360	2	rev	rev	PROPN
cblr-1780	360	3	.	.	PROPN
cblr-1780	360	4	449	449	NUM
cblr-1780	360	5	,	,	PUNCT
cblr-1780	360	6	488–91	488–91	NUM
cblr-1780	360	7	(	(	PUNCT
cblr-1780	360	8	2014	2014	NUM
cblr-1780	360	9	)	)	PUNCT
cblr-1780	360	10	.	.	PUNCT
cblr-1780	361	1	87	87	NUM
cblr-1780	361	2	criteria	criterion	NOUN
cblr-1780	361	3	for	for	ADP
cblr-1780	361	4	exclusion	exclusion	NOUN
cblr-1780	361	5	by	by	ADP
cblr-1780	361	6	the	the	DET
cblr-1780	361	7	company	company	NOUN
cblr-1780	361	8	are	be	AUX
cblr-1780	361	9	set	set	VERB
cblr-1780	361	10	out	out	ADP
cblr-1780	361	11	in	in	ADP
cblr-1780	361	12	17	17	NUM
cblr-1780	361	13	c.f.r	c.f.r	NOUN
cblr-1780	361	14	.	.	PUNCT
cblr-1780	362	1	§	§	PROPN
cblr-1780	362	2	240.14a-8	240.14a-8	NOUN
cblr-1780	362	3	(	(	PUNCT
cblr-1780	362	4	2014	2014	NUM
cblr-1780	362	5	)	)	PUNCT
cblr-1780	362	6	.	.	PUNCT
cblr-1780	363	1	see	see	VERB
cblr-1780	363	2	also	also	ADV
cblr-1780	363	3	stephen	stephen	PROPN
cblr-1780	363	4	j.	j.	PROPN
cblr-1780	363	5	choi	choi	PROPN
cblr-1780	363	6	&	&	CCONJ
cblr-1780	363	7	a.c	a.c	PROPN
cblr-1780	363	8	.	.	PROPN
cblr-1780	363	9	pritchard	pritchard	PROPN
cblr-1780	363	10	,	,	PUNCT
cblr-1780	363	11	securities	security	NOUN
cblr-1780	363	12	regulation	regulation	NOUN
cblr-1780	363	13	:	:	PUNCT
cblr-1780	363	14	cases	case	NOUN
cblr-1780	363	15	and	and	CCONJ
cblr-1780	363	16	analysis	analysis	NOUN
cblr-1780	363	17	677–91	677–91	NUM
cblr-1780	363	18	(	(	PUNCT
cblr-1780	363	19	3d	3d	NUM
cblr-1780	363	20	ed	ed	NOUN
cblr-1780	363	21	.	.	PROPN
cblr-1780	363	22	2012	2012	NUM
cblr-1780	363	23	)	)	PUNCT
cblr-1780	363	24	;	;	PUNCT
cblr-1780	363	25	john	john	PROPN
cblr-1780	363	26	c.	c.	PROPN
cblr-1780	363	27	coffee	coffee	PROPN
cblr-1780	363	28	,	,	PUNCT
cblr-1780	363	29	jr	jr	PROPN
cblr-1780	363	30	.	.	PROPN
cblr-1780	363	31	&	&	CCONJ
cblr-1780	363	32	hillary	hillary	PROPN
cblr-1780	363	33	a.	a.	PROPN
cblr-1780	363	34	sale	sale	PROPN
cblr-1780	363	35	,	,	PUNCT
cblr-1780	363	36	securities	security	NOUN
cblr-1780	363	37	regulation	regulation	NOUN
cblr-1780	363	38	:	:	PUNCT
cblr-1780	363	39	cases	case	NOUN
cblr-1780	363	40	and	and	CCONJ
cblr-1780	363	41	materials	material	NOUN
cblr-1780	363	42	1248–76	1248–76	NUM
cblr-1780	363	43	(	(	PUNCT
cblr-1780	363	44	12th	12th	NOUN
cblr-1780	363	45	ed	ed	NOUN
cblr-1780	363	46	.	.	PROPN
cblr-1780	363	47	2012	2012	NUM
cblr-1780	363	48	)	)	PUNCT
cblr-1780	363	49	;	;	PUNCT
cblr-1780	363	50	bebchuk	bebchuk	PROPN
cblr-1780	363	51	&	&	CCONJ
cblr-1780	363	52	jackson	jackson	PROPN
cblr-1780	363	53	,	,	PUNCT
cblr-1780	363	54	shining	shine	VERB
cblr-1780	363	55	light	light	NOUN
cblr-1780	363	56	,	,	PUNCT
cblr-1780	363	57	supra	supra	PROPN
cblr-1780	363	58	note	note	NOUN
cblr-1780	363	59	27	27	NUM
cblr-1780	363	60	,	,	PUNCT
cblr-1780	363	61	at	at	ADP
cblr-1780	363	62	943–44	943–44	NUM
cblr-1780	363	63	.	.	PROPN
cblr-1780	363	64	88	88	NUM
cblr-1780	363	65	17	17	NUM
cblr-1780	363	66	c.f.r	c.f.r	NOUN
cblr-1780	363	67	.	.	PUNCT
cblr-1780	364	1	§	§	PROPN
cblr-1780	364	2	240.14a-8(i)(5	240.14a-8(i)(5	NUM
cblr-1780	364	3	)	)	PUNCT
cblr-1780	364	4	(	(	PUNCT
cblr-1780	364	5	2014	2014	NUM
cblr-1780	364	6	)	)	PUNCT
cblr-1780	364	7	.	.	PUNCT
cblr-1780	365	1	89	89	NUM
cblr-1780	365	2	lovenheim	lovenheim	PROPN
cblr-1780	365	3	v.	v.	ADP
cblr-1780	365	4	iroquois	iroquois	PROPN
cblr-1780	365	5	brands	brands	PROPN
cblr-1780	365	6	,	,	PUNCT
cblr-1780	365	7	ltd	ltd	PROPN
cblr-1780	365	8	.	.	PROPN
cblr-1780	365	9	,	,	PUNCT
cblr-1780	365	10	618	618	NUM
cblr-1780	365	11	f.	f.	NOUN
cblr-1780	365	12	supp	supp	PROPN
cblr-1780	365	13	.	.	PUNCT
cblr-1780	366	1	554	554	NUM
cblr-1780	366	2	,	,	PUNCT
cblr-1780	366	3	561	561	NUM
cblr-1780	366	4	(	(	PUNCT
cblr-1780	366	5	1985	1985	NUM
cblr-1780	366	6	)	)	PUNCT
cblr-1780	366	7	.	.	PUNCT
cblr-1780	367	1	90	90	NUM
cblr-1780	367	2	coffee	coffee	NOUN
cblr-1780	367	3	&	&	CCONJ
cblr-1780	367	4	sale	sale	NOUN
cblr-1780	367	5	,	,	PUNCT
cblr-1780	367	6	supra	supra	PROPN
cblr-1780	367	7	note	note	PROPN
cblr-1780	367	8	87	87	NUM
cblr-1780	367	9	,	,	PUNCT
cblr-1780	367	10	at	at	ADP
cblr-1780	367	11	1253	1253	NUM
cblr-1780	367	12	.	.	PUNCT
cblr-1780	368	1	guttentag	guttentag	NOUN
cblr-1780	368	2	–	–	PUNCT
cblr-1780	368	3	final	final	ADJ
cblr-1780	368	4	no	no	NOUN
cblr-1780	368	5	.	.	PUNCT
cblr-1780	369	1	3:593	3:593	NUM
cblr-1780	369	2	]	]	PUNCT
cblr-1780	369	3	on	on	ADP
cblr-1780	369	4	political	political	ADJ
cblr-1780	369	5	spending	spending	NOUN
cblr-1780	369	6	disclosure	disclosure	NOUN
cblr-1780	369	7	619	619	NUM
cblr-1780	369	8	d.	d.	PROPN
cblr-1780	369	9	problems	problem	NOUN
cblr-1780	369	10	with	with	ADP
cblr-1780	369	11	the	the	DET
cblr-1780	369	12	expressive	expressive	ADJ
cblr-1780	369	13	investor	investor	NOUN
cblr-1780	369	14	protection	protection	NOUN
cblr-1780	369	15	argument	argument	NOUN
cblr-1780	369	16	the	the	DET
cblr-1780	369	17	investor	investor	NOUN
cblr-1780	369	18	expressive	expressive	ADJ
cblr-1780	369	19	protection	protection	NOUN
cblr-1780	369	20	argument	argument	NOUN
cblr-1780	369	21	for	for	ADP
cblr-1780	369	22	requiring	require	VERB
cblr-1780	369	23	the	the	DET
cblr-1780	369	24	disclosure	disclosure	NOUN
cblr-1780	369	25	of	of	ADP
cblr-1780	369	26	political	political	ADJ
cblr-1780	369	27	spending	spending	NOUN
cblr-1780	369	28	,	,	PUNCT
cblr-1780	369	29	however	however	ADV
cblr-1780	369	30	,	,	PUNCT
cblr-1780	369	31	is	be	AUX
cblr-1780	369	32	,	,	PUNCT
cblr-1780	369	33	at	at	ADP
cblr-1780	369	34	best	good	ADJ
cblr-1780	369	35	,	,	PUNCT
cblr-1780	369	36	incomplete	incomplete	ADJ
cblr-1780	369	37	.	.	PUNCT
cblr-1780	370	1	bebchuk	bebchuk	PROPN
cblr-1780	370	2	and	and	CCONJ
cblr-1780	370	3	jackson	jackson	PROPN
cblr-1780	370	4	take	take	VERB
cblr-1780	370	5	it	it	PRON
cblr-1780	370	6	as	as	ADP
cblr-1780	370	7	a	a	DET
cblr-1780	370	8	given	give	VERB
cblr-1780	370	9	that	that	PRON
cblr-1780	370	10	investor	investor	NOUN
cblr-1780	370	11	expressive	expressive	ADJ
cblr-1780	370	12	concerns	concern	NOUN
cblr-1780	370	13	are	be	AUX
cblr-1780	370	14	a	a	DET
cblr-1780	370	15	legitimate	legitimate	ADJ
cblr-1780	370	16	basis	basis	NOUN
cblr-1780	370	17	for	for	ADP
cblr-1780	370	18	determining	determine	VERB
cblr-1780	370	19	the	the	DET
cblr-1780	370	20	content	content	NOUN
cblr-1780	370	21	of	of	ADP
cblr-1780	370	22	mandatory	mandatory	ADJ
cblr-1780	370	23	disclosure	disclosure	NOUN
cblr-1780	370	24	requirements	requirement	NOUN
cblr-1780	370	25	.	.	PUNCT
cblr-1780	371	1	but	but	CCONJ
cblr-1780	371	2	it	it	PRON
cblr-1780	371	3	is	be	AUX
cblr-1780	371	4	not	not	PART
cblr-1780	371	5	obvious	obvious	ADJ
cblr-1780	371	6	why	why	SCONJ
cblr-1780	371	7	purchases	purchase	NOUN
cblr-1780	371	8	of	of	ADP
cblr-1780	371	9	public	public	ADJ
cblr-1780	371	10	company	company	NOUN
cblr-1780	371	11	securities	security	NOUN
cblr-1780	371	12	,	,	PUNCT
cblr-1780	371	13	which	which	PRON
cblr-1780	371	14	are	be	AUX
cblr-1780	371	15	in	in	ADP
cblr-1780	371	16	essence	essence	NOUN
cblr-1780	371	17	private	private	ADJ
cblr-1780	371	18	contracts	contract	NOUN
cblr-1780	371	19	between	between	ADP
cblr-1780	371	20	the	the	DET
cblr-1780	371	21	investor	investor	NOUN
cblr-1780	371	22	and	and	CCONJ
cblr-1780	371	23	the	the	DET
cblr-1780	371	24	firm	firm	NOUN
cblr-1780	371	25	,	,	PUNCT
cblr-1780	371	26	should	should	AUX
cblr-1780	371	27	entitle	entitle	VERB
cblr-1780	371	28	purchasers	purchaser	NOUN
cblr-1780	371	29	to	to	PART
cblr-1780	371	30	have	have	VERB
cblr-1780	371	31	their	their	PRON
cblr-1780	371	32	expressive	expressive	ADJ
cblr-1780	371	33	concerns	concern	NOUN
cblr-1780	371	34	addressed	address	VERB
cblr-1780	371	35	by	by	ADP
cblr-1780	371	36	federal	federal	ADJ
cblr-1780	371	37	regulation.91	regulation.91	NOUN
cblr-1780	371	38	this	this	DET
cblr-1780	371	39	particular	particular	ADJ
cblr-1780	371	40	form	form	NOUN
cblr-1780	371	41	of	of	ADP
cblr-1780	371	42	investor	investor	NOUN
cblr-1780	371	43	protection	protection	NOUN
cblr-1780	371	44	—	—	PUNCT
cblr-1780	371	45	investor	investor	NOUN
cblr-1780	371	46	expressive	expressive	ADJ
cblr-1780	371	47	protection	protection	NOUN
cblr-1780	371	48	—	—	PUNCT
cblr-1780	371	49	does	do	AUX
cblr-1780	371	50	not	not	PART
cblr-1780	371	51	,	,	PUNCT
cblr-1780	371	52	for	for	ADP
cblr-1780	371	53	example	example	NOUN
cblr-1780	371	54	,	,	PUNCT
cblr-1780	371	55	have	have	VERB
cblr-1780	371	56	a	a	DET
cblr-1780	371	57	historical	historical	ADJ
cblr-1780	371	58	foundation	foundation	NOUN
cblr-1780	371	59	in	in	ADP
cblr-1780	371	60	the	the	DET
cblr-1780	371	61	federal	federal	ADJ
cblr-1780	371	62	securities	security	NOUN
cblr-1780	371	63	statutes	statute	NOUN
cblr-1780	371	64	’	'	PUNCT
cblr-1780	371	65	goal	goal	NOUN
cblr-1780	371	66	of	of	ADP
cblr-1780	371	67	protecting	protect	VERB
cblr-1780	371	68	investors	investor	NOUN
cblr-1780	371	69	from	from	ADP
cblr-1780	371	70	various	various	ADJ
cblr-1780	371	71	harms.92	harms.92	NOUN
cblr-1780	371	72	three	three	NUM
cblr-1780	371	73	additional	additional	ADJ
cblr-1780	371	74	observations	observation	NOUN
cblr-1780	371	75	further	far	ADV
cblr-1780	371	76	suggest	suggest	VERB
cblr-1780	371	77	why	why	SCONJ
cblr-1780	371	78	the	the	DET
cblr-1780	371	79	public	public	ADJ
cblr-1780	371	80	company	company	NOUN
cblr-1780	371	81	mandatory	mandatory	ADJ
cblr-1780	371	82	disclosure	disclosure	NOUN
cblr-1780	371	83	regime	regime	NOUN
cblr-1780	371	84	is	be	AUX
cblr-1780	371	85	probably	probably	ADV
cblr-1780	371	86	not	not	PART
cblr-1780	371	87	the	the	DET
cblr-1780	371	88	best	good	ADJ
cblr-1780	371	89	tool	tool	NOUN
cblr-1780	371	90	for	for	ADP
cblr-1780	371	91	addressing	address	VERB
cblr-1780	371	92	expressive	expressive	ADJ
cblr-1780	371	93	investor	investor	NOUN
cblr-1780	371	94	protection	protection	NOUN
cblr-1780	371	95	concerns	concern	NOUN
cblr-1780	371	96	,	,	PUNCT
cblr-1780	371	97	such	such	ADJ
cblr-1780	371	98	as	as	ADP
cblr-1780	371	99	investor	investor	NOUN
cblr-1780	371	100	expressive	expressive	ADJ
cblr-1780	371	101	concerns	concern	NOUN
cblr-1780	371	102	about	about	ADP
cblr-1780	371	103	political	political	ADJ
cblr-1780	371	104	spending.93	spending.93	NOUN
cblr-1780	371	105	91	91	NUM
cblr-1780	372	1	i	i	PRON
cblr-1780	372	2	thank	thank	VERB
cblr-1780	372	3	sarah	sarah	PROPN
cblr-1780	372	4	haan	haan	PROPN
cblr-1780	372	5	for	for	ADP
cblr-1780	372	6	bringing	bring	VERB
cblr-1780	372	7	this	this	PRON
cblr-1780	372	8	to	to	ADP
cblr-1780	372	9	my	my	PRON
cblr-1780	372	10	attention	attention	NOUN
cblr-1780	372	11	.	.	PUNCT
cblr-1780	373	1	92	92	NUM
cblr-1780	373	2	guttentag	guttentag	NOUN
cblr-1780	373	3	,	,	PUNCT
cblr-1780	373	4	investor	investor	NOUN
cblr-1780	373	5	protection	protection	NOUN
cblr-1780	373	6	,	,	PUNCT
cblr-1780	373	7	supra	supra	PROPN
cblr-1780	373	8	note	note	NOUN
cblr-1780	373	9	10	10	NUM
cblr-1780	373	10	(	(	PUNCT
cblr-1780	373	11	identifying	identify	VERB
cblr-1780	373	12	efforts	effort	NOUN
cblr-1780	373	13	to	to	PART
cblr-1780	373	14	protect	protect	VERB
cblr-1780	373	15	investors	investor	NOUN
cblr-1780	373	16	from	from	ADP
cblr-1780	373	17	fraud	fraud	NOUN
cblr-1780	373	18	,	,	PUNCT
cblr-1780	373	19	an	an	DET
cblr-1780	373	20	unlevel	unlevel	ADJ
cblr-1780	373	21	informational	informational	ADJ
cblr-1780	373	22	playing	playing	NOUN
cblr-1780	373	23	field	field	NOUN
cblr-1780	373	24	,	,	PUNCT
cblr-1780	373	25	the	the	DET
cblr-1780	373	26	extraction	extraction	NOUN
cblr-1780	373	27	of	of	ADP
cblr-1780	373	28	private	private	ADJ
cblr-1780	373	29	benefits	benefit	NOUN
cblr-1780	373	30	from	from	ADP
cblr-1780	373	31	the	the	DET
cblr-1780	373	32	firm	firm	NOUN
cblr-1780	373	33	by	by	ADP
cblr-1780	373	34	firm	firm	ADJ
cblr-1780	373	35	insiders	insider	NOUN
cblr-1780	373	36	,	,	PUNCT
cblr-1780	373	37	and	and	CCONJ
cblr-1780	373	38	investors	investor	NOUN
cblr-1780	373	39	’	’	PART
cblr-1780	373	40	propensity	propensity	NOUN
cblr-1780	373	41	to	to	PART
cblr-1780	373	42	make	make	VERB
cblr-1780	373	43	unwise	unwise	ADJ
cblr-1780	373	44	investment	investment	NOUN
cblr-1780	373	45	decisions	decision	NOUN
cblr-1780	373	46	as	as	ADP
cblr-1780	373	47	the	the	DET
cblr-1780	373	48	harms	harm	NOUN
cblr-1780	373	49	from	from	ADP
cblr-1780	373	50	which	which	PRON
cblr-1780	373	51	securities	security	NOUN
cblr-1780	373	52	regulations	regulation	NOUN
cblr-1780	373	53	in	in	ADP
cblr-1780	373	54	the	the	DET
cblr-1780	373	55	united	united	PROPN
cblr-1780	373	56	states	states	PROPN
cblr-1780	373	57	were	be	AUX
cblr-1780	373	58	historically	historically	ADV
cblr-1780	373	59	designed	design	VERB
cblr-1780	373	60	to	to	PART
cblr-1780	373	61	protect	protect	VERB
cblr-1780	373	62	investors	investor	NOUN
cblr-1780	373	63	)	)	PUNCT
cblr-1780	373	64	;	;	PUNCT
cblr-1780	373	65	torres	torre	NOUN
cblr-1780	373	66	-	-	PUNCT
cblr-1780	373	67	spelliscy	spelliscy	ADJ
cblr-1780	373	68	,	,	PUNCT
cblr-1780	373	69	dark	dark	ADJ
cblr-1780	373	70	political	political	ADJ
cblr-1780	373	71	money	money	NOUN
cblr-1780	373	72	,	,	PUNCT
cblr-1780	373	73	supra	supra	PROPN
cblr-1780	373	74	note	note	PROPN
cblr-1780	373	75	28	28	NUM
cblr-1780	373	76	,	,	PUNCT
cblr-1780	373	77	at	at	ADP
cblr-1780	373	78	20–21	20–21	NUM
cblr-1780	373	79	.	.	PUNCT
cblr-1780	373	80	93	93	NUM
cblr-1780	373	81	an	an	DET
cblr-1780	373	82	additional	additional	ADJ
cblr-1780	373	83	observation	observation	NOUN
cblr-1780	373	84	about	about	ADP
cblr-1780	373	85	bebchuk	bebchuk	PROPN
cblr-1780	373	86	and	and	CCONJ
cblr-1780	373	87	jackson	jackson	PROPN
cblr-1780	373	88	’s	’s	PART
cblr-1780	373	89	expressive	expressive	ADJ
cblr-1780	373	90	investor	investor	NOUN
cblr-1780	373	91	protection	protection	NOUN
cblr-1780	373	92	argument	argument	NOUN
cblr-1780	373	93	for	for	ADP
cblr-1780	373	94	requiring	require	VERB
cblr-1780	373	95	the	the	DET
cblr-1780	373	96	disclosure	disclosure	NOUN
cblr-1780	373	97	of	of	ADP
cblr-1780	373	98	political	political	ADJ
cblr-1780	373	99	spending	spending	NOUN
cblr-1780	373	100	by	by	ADP
cblr-1780	373	101	public	public	ADJ
cblr-1780	373	102	companies	company	NOUN
cblr-1780	373	103	is	be	AUX
cblr-1780	373	104	that	that	SCONJ
cblr-1780	373	105	this	this	DET
cblr-1780	373	106	aspect	aspect	NOUN
cblr-1780	373	107	of	of	ADP
cblr-1780	373	108	their	their	PRON
cblr-1780	373	109	argument	argument	NOUN
cblr-1780	373	110	is	be	AUX
cblr-1780	373	111	not	not	PART
cblr-1780	373	112	buttressed	buttress	VERB
cblr-1780	373	113	by	by	ADP
cblr-1780	373	114	noting	note	VERB
cblr-1780	373	115	similarities	similarity	NOUN
cblr-1780	373	116	between	between	ADP
cblr-1780	373	117	political	political	ADJ
cblr-1780	373	118	spending	spending	NOUN
cblr-1780	373	119	,	,	PUNCT
cblr-1780	373	120	executive	executive	ADJ
cblr-1780	373	121	compensation	compensation	NOUN
cblr-1780	373	122	arrangements	arrangement	NOUN
cblr-1780	373	123	,	,	PUNCT
cblr-1780	373	124	and	and	CCONJ
cblr-1780	373	125	related	related	ADJ
cblr-1780	373	126	party	party	NOUN
cblr-1780	373	127	transactions	transaction	NOUN
cblr-1780	373	128	.	.	PUNCT
cblr-1780	374	1	at	at	ADP
cblr-1780	374	2	least	least	ADV
cblr-1780	374	3	historically	historically	ADV
cblr-1780	374	4	,	,	PUNCT
cblr-1780	374	5	the	the	DET
cblr-1780	374	6	justifications	justification	NOUN
cblr-1780	374	7	for	for	ADP
cblr-1780	374	8	requiring	require	VERB
cblr-1780	374	9	the	the	DET
cblr-1780	374	10	disclosure	disclosure	NOUN
cblr-1780	374	11	of	of	ADP
cblr-1780	374	12	executive	executive	ADJ
cblr-1780	374	13	compensation	compensation	NOUN
cblr-1780	374	14	and	and	CCONJ
cblr-1780	374	15	related	relate	VERB
cblr-1780	374	16	party	party	NOUN
cblr-1780	374	17	transactions	transaction	NOUN
cblr-1780	374	18	do	do	AUX
cblr-1780	374	19	not	not	PART
cblr-1780	374	20	depend	depend	VERB
cblr-1780	374	21	on	on	ADP
cblr-1780	374	22	how	how	SCONJ
cblr-1780	374	23	such	such	ADJ
cblr-1780	374	24	disclosures	disclosure	NOUN
cblr-1780	374	25	might	might	AUX
cblr-1780	374	26	provide	provide	VERB
cblr-1780	374	27	expressive	expressive	ADJ
cblr-1780	374	28	investor	investor	NOUN
cblr-1780	374	29	protection	protection	NOUN
cblr-1780	374	30	,	,	PUNCT
cblr-1780	374	31	but	but	CCONJ
cblr-1780	374	32	rather	rather	ADV
cblr-1780	374	33	on	on	ADP
cblr-1780	374	34	the	the	DET
cblr-1780	374	35	deterrent	deterrent	NOUN
cblr-1780	374	36	value	value	NOUN
cblr-1780	374	37	of	of	ADP
cblr-1780	374	38	such	such	ADJ
cblr-1780	374	39	disclosure	disclosure	NOUN
cblr-1780	374	40	requirements	requirement	NOUN
cblr-1780	374	41	.	.	PUNCT
cblr-1780	375	1	see	see	VERB
cblr-1780	375	2	infra	infra	NOUN
cblr-1780	375	3	part	part	NOUN
cblr-1780	375	4	iv.b	iv.b	NOUN
cblr-1780	375	5	.	.	PUNCT
cblr-1780	376	1	but	but	CCONJ
cblr-1780	376	2	jackson	jackson	PROPN
cblr-1780	376	3	has	have	AUX
cblr-1780	376	4	argued	argue	VERB
cblr-1780	376	5	that	that	SCONJ
cblr-1780	376	6	“	"	PUNCT
cblr-1780	376	7	corporate	corporate	ADJ
cblr-1780	376	8	spending	spending	NOUN
cblr-1780	376	9	on	on	ADP
cblr-1780	376	10	politics	politic	NOUN
cblr-1780	376	11	has	have	AUX
cblr-1780	376	12	unique	unique	ADJ
cblr-1780	376	13	,	,	PUNCT
cblr-1780	376	14	expressive	expressive	ADJ
cblr-1780	376	15	significance	significance	NOUN
cblr-1780	376	16	that	that	PRON
cblr-1780	376	17	goes	go	VERB
cblr-1780	376	18	far	far	ADV
cblr-1780	376	19	beyond	beyond	ADP
cblr-1780	376	20	the	the	DET
cblr-1780	376	21	bottom	bottom	ADJ
cblr-1780	376	22	line	line	NOUN
cblr-1780	376	23	of	of	ADP
cblr-1780	376	24	the	the	DET
cblr-1780	376	25	corporation	corporation	NOUN
cblr-1780	376	26	.	.	PUNCT
cblr-1780	377	1	that	that	PRON
cblr-1780	377	2	’s	’	VERB
cblr-1780	377	3	why	why	SCONJ
cblr-1780	377	4	,	,	PUNCT
cblr-1780	377	5	for	for	ADP
cblr-1780	377	6	example	example	NOUN
cblr-1780	377	7	,	,	PUNCT
cblr-1780	377	8	executive	executive	ADJ
cblr-1780	377	9	compensation	compensation	NOUN
cblr-1780	377	10	is	be	AUX
cblr-1780	377	11	required	require	VERB
cblr-1780	377	12	guttentag	guttentag	NOUN
cblr-1780	377	13	–	–	PUNCT
cblr-1780	378	1	final	final	ADJ
cblr-1780	378	2	620	620	NUM
cblr-1780	378	3	columbia	columbia	PROPN
cblr-1780	378	4	business	business	NOUN
cblr-1780	378	5	law	law	PROPN
cblr-1780	378	6	review	review	NOUN
cblr-1780	378	7	[	[	X
cblr-1780	378	8	vol	vol	NOUN
cblr-1780	378	9	.	.	PUNCT
cblr-1780	378	10	2014	2014	NUM
cblr-1780	378	11	the	the	DET
cblr-1780	378	12	first	first	ADJ
cblr-1780	378	13	observation	observation	NOUN
cblr-1780	378	14	is	be	AUX
cblr-1780	378	15	that	that	SCONJ
cblr-1780	378	16	information	information	NOUN
cblr-1780	378	17	unraveling	unravel	VERB
cblr-1780	378	18	should	should	AUX
cblr-1780	378	19	address	address	VERB
cblr-1780	378	20	most	most	ADJ
cblr-1780	378	21	concerns	concern	NOUN
cblr-1780	378	22	about	about	ADP
cblr-1780	378	23	expressive	expressive	ADJ
cblr-1780	378	24	investor	investor	NOUN
cblr-1780	378	25	protection	protection	NOUN
cblr-1780	378	26	without	without	ADP
cblr-1780	378	27	the	the	DET
cblr-1780	378	28	need	need	NOUN
cblr-1780	378	29	for	for	ADP
cblr-1780	378	30	regulatory	regulatory	ADJ
cblr-1780	378	31	intervention	intervention	NOUN
cblr-1780	378	32	.	.	PUNCT
cblr-1780	379	1	comparative	comparative	ADJ
cblr-1780	379	2	efficacy	efficacy	NOUN
cblr-1780	379	3	of	of	ADP
cblr-1780	379	4	private	private	ADJ
cblr-1780	379	5	ordering	ordering	NOUN
cblr-1780	379	6	is	be	AUX
cblr-1780	379	7	an	an	DET
cblr-1780	379	8	issue	issue	NOUN
cblr-1780	379	9	that	that	PRON
cblr-1780	379	10	inevitably	inevitably	ADV
cblr-1780	379	11	arises	arise	VERB
cblr-1780	379	12	when	when	SCONJ
cblr-1780	379	13	considering	consider	VERB
cblr-1780	379	14	imposing	impose	VERB
cblr-1780	379	15	mandatory	mandatory	ADJ
cblr-1780	379	16	obligations	obligation	NOUN
cblr-1780	379	17	.	.	PUNCT
cblr-1780	380	1	in	in	ADP
cblr-1780	380	2	the	the	DET
cblr-1780	380	3	absence	absence	NOUN
cblr-1780	380	4	of	of	ADP
cblr-1780	380	5	market	market	NOUN
cblr-1780	380	6	failures	failure	NOUN
cblr-1780	380	7	,	,	PUNCT
cblr-1780	380	8	private	private	ADJ
cblr-1780	380	9	ordering	ordering	NOUN
cblr-1780	380	10	would	would	AUX
cblr-1780	380	11	presumably	presumably	ADV
cblr-1780	380	12	provide	provide	VERB
cblr-1780	380	13	a	a	DET
cblr-1780	380	14	more	more	ADV
cblr-1780	380	15	nuanced	nuanced	ADJ
cblr-1780	380	16	way	way	NOUN
cblr-1780	380	17	to	to	PART
cblr-1780	380	18	determine	determine	VERB
cblr-1780	380	19	what	what	PRON
cblr-1780	380	20	information	information	NOUN
cblr-1780	380	21	firms	firm	NOUN
cblr-1780	380	22	commit	commit	VERB
cblr-1780	380	23	to	to	PART
cblr-1780	380	24	disclose	disclose	VERB
cblr-1780	380	25	.	.	PUNCT
cblr-1780	381	1	one	one	NUM
cblr-1780	381	2	argument	argument	NOUN
cblr-1780	381	3	that	that	PRON
cblr-1780	381	4	might	might	AUX
cblr-1780	381	5	be	be	AUX
cblr-1780	381	6	offered	offer	VERB
cblr-1780	381	7	about	about	ADP
cblr-1780	381	8	why	why	SCONJ
cblr-1780	381	9	relying	rely	VERB
cblr-1780	381	10	on	on	ADP
cblr-1780	381	11	voluntary	voluntary	ADJ
cblr-1780	381	12	disclosure	disclosure	NOUN
cblr-1780	381	13	to	to	PART
cblr-1780	381	14	address	address	VERB
cblr-1780	381	15	expressive	expressive	ADJ
cblr-1780	381	16	investor	investor	NOUN
cblr-1780	381	17	protection	protection	NOUN
cblr-1780	381	18	concerns	concern	NOUN
cblr-1780	381	19	is	be	AUX
cblr-1780	381	20	doomed	doom	VERB
cblr-1780	381	21	to	to	PART
cblr-1780	381	22	fail	fail	VERB
cblr-1780	381	23	is	be	AUX
cblr-1780	381	24	that	that	SCONJ
cblr-1780	381	25	firms	firm	NOUN
cblr-1780	381	26	will	will	AUX
cblr-1780	381	27	not	not	PART
cblr-1780	381	28	voluntarily	voluntarily	ADV
cblr-1780	381	29	disclose	disclose	VERB
cblr-1780	381	30	questionable	questionable	ADJ
cblr-1780	381	31	behavior.94	behavior.94	NOUN
cblr-1780	381	32	however	however	ADV
cblr-1780	381	33	,	,	PUNCT
cblr-1780	381	34	a	a	DET
cblr-1780	381	35	general	general	ADJ
cblr-1780	381	36	theory	theory	NOUN
cblr-1780	381	37	about	about	ADP
cblr-1780	381	38	information	information	NOUN
cblr-1780	381	39	disclosure	disclosure	NOUN
cblr-1780	381	40	suggests	suggest	VERB
cblr-1780	381	41	that	that	SCONJ
cblr-1780	381	42	non	non	ADJ
cblr-1780	381	43	-	-	NOUN
cblr-1780	381	44	disclosure	disclosure	NOUN
cblr-1780	381	45	in	in	ADP
cblr-1780	381	46	the	the	DET
cblr-1780	381	47	absence	absence	NOUN
cblr-1780	381	48	of	of	ADP
cblr-1780	381	49	mandatory	mandatory	ADJ
cblr-1780	381	50	disclosure	disclosure	NOUN
cblr-1780	381	51	regulation	regulation	NOUN
cblr-1780	381	52	is	be	AUX
cblr-1780	381	53	not	not	PART
cblr-1780	381	54	inevitable	inevitable	ADJ
cblr-1780	381	55	.	.	PUNCT
cblr-1780	382	1	the	the	DET
cblr-1780	382	2	theory	theory	NOUN
cblr-1780	382	3	is	be	AUX
cblr-1780	382	4	known	know	VERB
cblr-1780	382	5	by	by	ADP
cblr-1780	382	6	its	its	PRON
cblr-1780	382	7	unraveling	unraveling	ADJ
cblr-1780	382	8	result.95	result.95	NOUN
cblr-1780	382	9	this	this	DET
cblr-1780	382	10	theory	theory	NOUN
cblr-1780	382	11	describes	describe	VERB
cblr-1780	382	12	how	how	SCONJ
cblr-1780	382	13	voluntary	voluntary	ADJ
cblr-1780	382	14	disclosures	disclosure	NOUN
cblr-1780	382	15	occur	occur	VERB
cblr-1780	382	16	as	as	ADP
cblr-1780	382	17	firms	firm	NOUN
cblr-1780	382	18	that	that	PRON
cblr-1780	382	19	are	be	AUX
cblr-1780	382	20	high	high	ADJ
cblr-1780	382	21	quality	quality	NOUN
cblr-1780	382	22	(	(	PUNCT
cblr-1780	382	23	as	as	SCONJ
cblr-1780	382	24	measured	measure	VERB
cblr-1780	382	25	by	by	ADP
cblr-1780	382	26	whatever	whatever	PRON
cblr-1780	382	27	the	the	DET
cblr-1780	382	28	relevant	relevant	ADJ
cblr-1780	382	29	criteria	criterion	NOUN
cblr-1780	382	30	are	be	AUX
cblr-1780	382	31	)	)	PUNCT
cblr-1780	382	32	choose	choose	VERB
cblr-1780	382	33	to	to	PART
cblr-1780	382	34	reveal	reveal	VERB
cblr-1780	382	35	their	their	PRON
cblr-1780	382	36	quality	quality	NOUN
cblr-1780	382	37	in	in	ADP
cblr-1780	382	38	order	order	NOUN
cblr-1780	382	39	to	to	PART
cblr-1780	382	40	distinguish	distinguish	VERB
cblr-1780	382	41	themselves	themselves	PRON
cblr-1780	382	42	from	from	ADP
cblr-1780	382	43	lower	low	ADJ
cblr-1780	382	44	quality	quality	NOUN
cblr-1780	382	45	firms	firm	NOUN
cblr-1780	382	46	.	.	PUNCT
cblr-1780	383	1	individually	individually	ADV
cblr-1780	383	2	rational	rational	ADJ
cblr-1780	383	3	disclosure	disclosure	NOUN
cblr-1780	383	4	decisions	decision	NOUN
cblr-1780	383	5	can	can	AUX
cblr-1780	383	6	thus	thus	ADV
cblr-1780	383	7	lead	lead	VERB
cblr-1780	383	8	to	to	ADP
cblr-1780	383	9	all	all	DET
cblr-1780	383	10	information	information	NOUN
cblr-1780	383	11	about	about	ADP
cblr-1780	383	12	firm	firm	ADJ
cblr-1780	383	13	quality	quality	NOUN
cblr-1780	383	14	being	be	AUX
cblr-1780	383	15	voluntarily	voluntarily	ADV
cblr-1780	383	16	revealed	reveal	VERB
cblr-1780	383	17	(	(	PUNCT
cblr-1780	383	18	“	"	PUNCT
cblr-1780	383	19	unraveling	unravel	VERB
cblr-1780	383	20	”	"	PUNCT
cblr-1780	383	21	)	)	PUNCT
cblr-1780	383	22	.	.	PUNCT
cblr-1780	384	1	the	the	DET
cblr-1780	384	2	unraveling	unraveling	ADJ
cblr-1780	384	3	process	process	NOUN
cblr-1780	384	4	can	can	AUX
cblr-1780	384	5	solve	solve	VERB
cblr-1780	384	6	many	many	ADJ
cblr-1780	384	7	expressive	expressive	ADJ
cblr-1780	384	8	investor	investor	NOUN
cblr-1780	384	9	protection	protection	NOUN
cblr-1780	384	10	concerns	concern	NOUN
cblr-1780	384	11	without	without	ADP
cblr-1780	384	12	the	the	DET
cblr-1780	384	13	need	need	NOUN
cblr-1780	384	14	for	for	ADP
cblr-1780	384	15	regulatory	regulatory	ADJ
cblr-1780	384	16	intervention	intervention	NOUN
cblr-1780	384	17	.	.	PUNCT
cblr-1780	385	1	if	if	SCONJ
cblr-1780	385	2	investors	investor	NOUN
cblr-1780	385	3	find	find	VERB
cblr-1780	385	4	certain	certain	ADJ
cblr-1780	385	5	kinds	kind	NOUN
cblr-1780	385	6	of	of	ADP
cblr-1780	385	7	firm	firm	ADJ
cblr-1780	385	8	behavior	behavior	NOUN
cblr-1780	385	9	troubling	troubling	ADJ
cblr-1780	385	10	,	,	PUNCT
cblr-1780	385	11	firms	firm	NOUN
cblr-1780	385	12	can	can	AUX
cblr-1780	385	13	voluntarily	voluntarily	ADV
cblr-1780	385	14	and	and	CCONJ
cblr-1780	385	15	credibly	credibly	ADV
cblr-1780	385	16	commit	commit	VERB
cblr-1780	385	17	either	either	PRON
cblr-1780	385	18	not	not	PART
cblr-1780	385	19	to	to	PART
cblr-1780	385	20	engage	engage	VERB
cblr-1780	385	21	in	in	ADP
cblr-1780	385	22	the	the	DET
cblr-1780	385	23	expressively	expressively	ADV
cblr-1780	385	24	problematic	problematic	ADJ
cblr-1780	385	25	behavior	behavior	NOUN
cblr-1780	385	26	or	or	CCONJ
cblr-1780	385	27	to	to	PART
cblr-1780	385	28	disclose	disclose	VERB
cblr-1780	385	29	their	their	PRON
cblr-1780	385	30	actions	action	NOUN
cblr-1780	385	31	when	when	SCONJ
cblr-1780	385	32	they	they	PRON
cblr-1780	385	33	do	do	AUX
cblr-1780	385	34	engage	engage	VERB
cblr-1780	385	35	in	in	ADP
cblr-1780	385	36	this	this	DET
cblr-1780	385	37	type	type	NOUN
cblr-1780	385	38	of	of	ADP
cblr-1780	385	39	behavior	behavior	NOUN
cblr-1780	385	40	.	.	PUNCT
cblr-1780	386	1	by	by	ADP
cblr-1780	386	2	holding	hold	VERB
cblr-1780	386	3	a	a	DET
cblr-1780	386	4	portfolio	portfolio	NOUN
cblr-1780	386	5	consisting	consist	VERB
cblr-1780	386	6	of	of	ADP
cblr-1780	386	7	only	only	ADJ
cblr-1780	386	8	firms	firm	NOUN
cblr-1780	386	9	that	that	PRON
cblr-1780	386	10	commit	commit	VERB
cblr-1780	386	11	to	to	ADP
cblr-1780	386	12	the	the	DET
cblr-1780	386	13	desired	desire	VERB
cblr-1780	386	14	behavior	behavior	NOUN
cblr-1780	386	15	or	or	CCONJ
cblr-1780	386	16	disclosure	disclosure	NOUN
cblr-1780	386	17	policies	policy	NOUN
cblr-1780	386	18	,	,	PUNCT
cblr-1780	386	19	an	an	DET
cblr-1780	386	20	investor	investor	NOUN
cblr-1780	386	21	could	could	AUX
cblr-1780	386	22	be	be	AUX
cblr-1780	386	23	assured	assure	VERB
cblr-1780	386	24	that	that	SCONJ
cblr-1780	386	25	her	her	PRON
cblr-1780	386	26	expressive	expressive	ADJ
cblr-1780	386	27	concerns	concern	NOUN
cblr-1780	386	28	are	be	AUX
cblr-1780	386	29	addressed	address	VERB
cblr-1780	386	30	.	.	PUNCT
cblr-1780	387	1	moreover	moreover	ADV
cblr-1780	387	2	,	,	PUNCT
cblr-1780	387	3	the	the	DET
cblr-1780	387	4	financial	financial	ADJ
cblr-1780	387	5	cost	cost	NOUN
cblr-1780	387	6	of	of	ADP
cblr-1780	387	7	following	follow	VERB
cblr-1780	387	8	this	this	PRON
cblr-1780	387	9	to	to	PART
cblr-1780	387	10	be	be	AUX
cblr-1780	387	11	disclosed	disclose	VERB
cblr-1780	387	12	.	.	PUNCT
cblr-1780	387	13	”	"	PUNCT
cblr-1780	388	1	pbs	pbs	PROPN
cblr-1780	388	2	newshour	newshour	PROPN
cblr-1780	388	3	:	:	PUNCT
cblr-1780	388	4	sec	sec	PROPN
cblr-1780	388	5	considering	consider	VERB
cblr-1780	388	6	new	new	ADJ
cblr-1780	388	7	rule	rule	NOUN
cblr-1780	388	8	for	for	ADP
cblr-1780	388	9	political	political	ADJ
cblr-1780	388	10	contributions	contribution	NOUN
cblr-1780	388	11	by	by	ADP
cblr-1780	388	12	public	public	ADJ
cblr-1780	388	13	companies	company	NOUN
cblr-1780	388	14	,	,	PUNCT
cblr-1780	388	15	(	(	PUNCT
cblr-1780	388	16	pbs	pbs	PROPN
cblr-1780	388	17	television	television	PROPN
cblr-1780	388	18	broadcast	broadcast	NOUN
cblr-1780	388	19	may	may	AUX
cblr-1780	388	20	6	6	NUM
cblr-1780	388	21	,	,	PUNCT
cblr-1780	388	22	2013	2013	NUM
cblr-1780	388	23	)	)	PUNCT
cblr-1780	388	24	,	,	PUNCT
cblr-1780	388	25	available	available	ADJ
cblr-1780	388	26	at	at	ADP
cblr-1780	388	27	http://perma.cc/r285-7bjn	http://perma.cc/r285-7bjn	PROPN
cblr-1780	388	28	.	.	PROPN
cblr-1780	388	29	94	94	NUM
cblr-1780	388	30	bebchuk	bebchuk	PROPN
cblr-1780	388	31	&	&	CCONJ
cblr-1780	388	32	jackson	jackson	PROPN
cblr-1780	388	33	,	,	PUNCT
cblr-1780	388	34	shining	shine	VERB
cblr-1780	388	35	light	light	NOUN
cblr-1780	388	36	,	,	PUNCT
cblr-1780	388	37	supra	supra	PROPN
cblr-1780	388	38	note	note	NOUN
cblr-1780	388	39	27	27	NUM
cblr-1780	388	40	,	,	PUNCT
cblr-1780	388	41	at	at	ADP
cblr-1780	388	42	947–49	947–49	NUM
cblr-1780	388	43	.	.	PUNCT
cblr-1780	388	44	95	95	NUM
cblr-1780	388	45	for	for	ADP
cblr-1780	388	46	a	a	DET
cblr-1780	388	47	survey	survey	NOUN
cblr-1780	388	48	of	of	ADP
cblr-1780	388	49	research	research	NOUN
cblr-1780	388	50	related	relate	VERB
cblr-1780	388	51	to	to	ADP
cblr-1780	388	52	unraveling	unravel	VERB
cblr-1780	388	53	,	,	PUNCT
cblr-1780	388	54	see	see	VERB
cblr-1780	388	55	david	david	PROPN
cblr-1780	388	56	dranove	dranove	PROPN
cblr-1780	388	57	&	&	CCONJ
cblr-1780	388	58	ginger	ginger	PROPN
cblr-1780	388	59	z.	z.	PROPN
cblr-1780	388	60	jin	jin	PROPN
cblr-1780	388	61	,	,	PUNCT
cblr-1780	388	62	quality	quality	NOUN
cblr-1780	388	63	disclosure	disclosure	NOUN
cblr-1780	388	64	and	and	CCONJ
cblr-1780	388	65	certification	certification	NOUN
cblr-1780	388	66	:	:	PUNCT
cblr-1780	388	67	theory	theory	NOUN
cblr-1780	388	68	and	and	CCONJ
cblr-1780	388	69	practice	practice	NOUN
cblr-1780	388	70	,	,	PUNCT
cblr-1780	388	71	48	48	NUM
cblr-1780	388	72	j.	j.	PROPN
cblr-1780	388	73	econ	econ	PROPN
cblr-1780	388	74	.	.	PUNCT
cblr-1780	389	1	literature	literature	PROPN
cblr-1780	389	2	935	935	NUM
cblr-1780	389	3	,	,	PUNCT
cblr-1780	389	4	941–45	941–45	PROPN
cblr-1780	389	5	(	(	PUNCT
cblr-1780	389	6	2010	2010	NUM
cblr-1780	389	7	)	)	PUNCT
cblr-1780	389	8	.	.	PUNCT
cblr-1780	390	1	guttentag	guttentag	NOUN
cblr-1780	390	2	–	–	PUNCT
cblr-1780	390	3	final	final	ADJ
cblr-1780	390	4	no	no	NOUN
cblr-1780	390	5	.	.	PUNCT
cblr-1780	391	1	3:593	3:593	NUM
cblr-1780	391	2	]	]	PUNCT
cblr-1780	391	3	on	on	ADP
cblr-1780	391	4	political	political	ADJ
cblr-1780	391	5	spending	spending	NOUN
cblr-1780	391	6	disclosure	disclosure	NOUN
cblr-1780	391	7	621	621	NUM
cblr-1780	391	8	investment	investment	NOUN
cblr-1780	391	9	strategy	strategy	NOUN
cblr-1780	391	10	is	be	AUX
cblr-1780	391	11	likely	likely	ADJ
cblr-1780	391	12	to	to	PART
cblr-1780	391	13	be	be	AUX
cblr-1780	391	14	minimal	minimal	ADJ
cblr-1780	391	15	,	,	PUNCT
cblr-1780	391	16	because	because	SCONJ
cblr-1780	391	17	the	the	DET
cblr-1780	391	18	foregone	foregone	NOUN
cblr-1780	391	19	opportunity	opportunity	NOUN
cblr-1780	391	20	cost	cost	NOUN
cblr-1780	391	21	of	of	ADP
cblr-1780	391	22	investing	invest	VERB
cblr-1780	391	23	in	in	ADP
cblr-1780	391	24	any	any	DET
cblr-1780	391	25	one	one	NUM
cblr-1780	391	26	firm	firm	NOUN
cblr-1780	391	27	or	or	CCONJ
cblr-1780	391	28	group	group	NOUN
cblr-1780	391	29	of	of	ADP
cblr-1780	391	30	firms	firm	NOUN
cblr-1780	391	31	is	be	AUX
cblr-1780	391	32	quite	quite	ADV
cblr-1780	391	33	small.96	small.96	NOUN
cblr-1780	391	34	indeed	indeed	ADV
cblr-1780	391	35	,	,	PUNCT
cblr-1780	391	36	bebchuk	bebchuk	PROPN
cblr-1780	391	37	and	and	CCONJ
cblr-1780	391	38	jackson	jackson	PROPN
cblr-1780	391	39	96	96	NUM
cblr-1780	391	40	from	from	ADP
cblr-1780	391	41	a	a	DET
cblr-1780	391	42	financial	financial	ADJ
cblr-1780	391	43	perspective	perspective	NOUN
cblr-1780	391	44	,	,	PUNCT
cblr-1780	391	45	the	the	DET
cblr-1780	391	46	economic	economic	ADJ
cblr-1780	391	47	benefits	benefit	NOUN
cblr-1780	391	48	of	of	ADP
cblr-1780	391	49	diversification	diversification	NOUN
cblr-1780	391	50	can	can	AUX
cblr-1780	391	51	be	be	AUX
cblr-1780	391	52	achieved	achieve	VERB
cblr-1780	391	53	even	even	ADV
cblr-1780	391	54	with	with	ADP
cblr-1780	391	55	an	an	DET
cblr-1780	391	56	investment	investment	NOUN
cblr-1780	391	57	in	in	ADP
cblr-1780	391	58	a	a	DET
cblr-1780	391	59	relatively	relatively	ADV
cblr-1780	391	60	small	small	ADJ
cblr-1780	391	61	number	number	NOUN
cblr-1780	391	62	of	of	ADP
cblr-1780	391	63	firms	firm	NOUN
cblr-1780	391	64	.	.	PUNCT
cblr-1780	392	1	meir	meir	PROPN
cblr-1780	392	2	statman	statman	PROPN
cblr-1780	392	3	,	,	PUNCT
cblr-1780	392	4	how	how	SCONJ
cblr-1780	392	5	many	many	ADJ
cblr-1780	392	6	stocks	stock	NOUN
cblr-1780	392	7	make	make	VERB
cblr-1780	392	8	a	a	DET
cblr-1780	392	9	diversified	diversified	ADJ
cblr-1780	392	10	portfolio	portfolio	NOUN
cblr-1780	392	11	?	?	PUNCT
cblr-1780	392	12	,	,	PUNCT
cblr-1780	392	13	22	22	NUM
cblr-1780	392	14	j.	j.	PROPN
cblr-1780	392	15	fin	fin	PROPN
cblr-1780	392	16	.	.	PUNCT
cblr-1780	392	17	&	&	CCONJ
cblr-1780	392	18	quantitative	quantitative	ADJ
cblr-1780	392	19	anal	anal	PROPN
cblr-1780	392	20	.	.	PUNCT
cblr-1780	393	1	353	353	NUM
cblr-1780	393	2	,	,	PUNCT
cblr-1780	393	3	353	353	NUM
cblr-1780	393	4	(	(	PUNCT
cblr-1780	393	5	1987	1987	NUM
cblr-1780	393	6	)	)	PUNCT
cblr-1780	393	7	(	(	PUNCT
cblr-1780	393	8	discussing	discuss	VERB
cblr-1780	393	9	the	the	DET
cblr-1780	393	10	minimum	minimum	ADJ
cblr-1780	393	11	diversification	diversification	NOUN
cblr-1780	393	12	required	require	VERB
cblr-1780	393	13	for	for	ADP
cblr-1780	393	14	economic	economic	ADJ
cblr-1780	393	15	benefit	benefit	NOUN
cblr-1780	393	16	)	)	PUNCT
cblr-1780	393	17	.	.	PUNCT
cblr-1780	394	1	moreover	moreover	ADV
cblr-1780	394	2	,	,	PUNCT
cblr-1780	394	3	if	if	SCONJ
cblr-1780	394	4	enough	enough	ADJ
cblr-1780	394	5	investors	investor	NOUN
cblr-1780	394	6	share	share	VERB
cblr-1780	394	7	similar	similar	ADJ
cblr-1780	394	8	expressive	expressive	ADJ
cblr-1780	394	9	concerns	concern	NOUN
cblr-1780	394	10	,	,	PUNCT
cblr-1780	394	11	two	two	NUM
cblr-1780	394	12	market	market	NOUN
cblr-1780	394	13	forces	force	NOUN
cblr-1780	394	14	are	be	AUX
cblr-1780	394	15	likely	likely	ADJ
cblr-1780	394	16	to	to	PART
cblr-1780	394	17	further	far	ADV
cblr-1780	394	18	reduce	reduce	VERB
cblr-1780	394	19	the	the	DET
cblr-1780	394	20	cost	cost	NOUN
cblr-1780	394	21	of	of	ADP
cblr-1780	394	22	making	make	VERB
cblr-1780	394	23	investments	investment	NOUN
cblr-1780	394	24	that	that	PRON
cblr-1780	394	25	address	address	VERB
cblr-1780	394	26	such	such	ADJ
cblr-1780	394	27	concerns	concern	NOUN
cblr-1780	394	28	.	.	PUNCT
cblr-1780	395	1	first	first	ADV
cblr-1780	395	2	,	,	PUNCT
cblr-1780	395	3	financial	financial	ADJ
cblr-1780	395	4	intermediaries	intermediary	NOUN
cblr-1780	395	5	may	may	AUX
cblr-1780	395	6	have	have	VERB
cblr-1780	395	7	a	a	DET
cblr-1780	395	8	sufficient	sufficient	ADJ
cblr-1780	395	9	incentive	incentive	NOUN
cblr-1780	395	10	to	to	PART
cblr-1780	395	11	create	create	VERB
cblr-1780	395	12	a	a	DET
cblr-1780	395	13	fund	fund	NOUN
cblr-1780	395	14	that	that	PRON
cblr-1780	395	15	consists	consist	VERB
cblr-1780	395	16	only	only	ADV
cblr-1780	395	17	of	of	ADP
cblr-1780	395	18	the	the	DET
cblr-1780	395	19	securities	security	NOUN
cblr-1780	395	20	of	of	ADP
cblr-1780	395	21	firms	firm	NOUN
cblr-1780	395	22	that	that	PRON
cblr-1780	395	23	agree	agree	VERB
cblr-1780	395	24	not	not	PART
cblr-1780	395	25	to	to	PART
cblr-1780	395	26	engage	engage	VERB
cblr-1780	395	27	in	in	ADP
cblr-1780	395	28	the	the	DET
cblr-1780	395	29	troubling	troubling	ADJ
cblr-1780	395	30	behavior	behavior	NOUN
cblr-1780	395	31	.	.	PUNCT
cblr-1780	396	1	see	see	VERB
cblr-1780	396	2	,	,	PUNCT
cblr-1780	396	3	e.g.	e.g.	ADV
cblr-1780	396	4	,	,	PUNCT
cblr-1780	396	5	paul	paul	PROPN
cblr-1780	396	6	sullivan	sullivan	PROPN
cblr-1780	396	7	,	,	PUNCT
cblr-1780	396	8	when	when	SCONJ
cblr-1780	396	9	buying	buy	VERB
cblr-1780	396	10	stock	stock	NOUN
cblr-1780	396	11	in	in	ADP
cblr-1780	396	12	gluttony	gluttony	NOUN
cblr-1780	396	13	is	be	AUX
cblr-1780	396	14	a	a	DET
cblr-1780	396	15	good	good	ADJ
cblr-1780	396	16	investment	investment	NOUN
cblr-1780	396	17	,	,	PUNCT
cblr-1780	396	18	n.y	n.y	PROPN
cblr-1780	396	19	.	.	PROPN
cblr-1780	396	20	times	times	PROPN
cblr-1780	396	21	,	,	PUNCT
cblr-1780	396	22	feb	feb	PROPN
cblr-1780	396	23	.	.	PROPN
cblr-1780	396	24	1	1	NUM
cblr-1780	396	25	,	,	PUNCT
cblr-1780	396	26	2014	2014	NUM
cblr-1780	396	27	,	,	PUNCT
cblr-1780	396	28	at	at	ADP
cblr-1780	396	29	b5	b5	PROPN
cblr-1780	396	30	.	.	PUNCT
cblr-1780	397	1	the	the	DET
cblr-1780	397	2	article	article	NOUN
cblr-1780	397	3	describes	describe	VERB
cblr-1780	397	4	an	an	DET
cblr-1780	397	5	online	online	ADJ
cblr-1780	397	6	company	company	NOUN
cblr-1780	397	7	,	,	PUNCT
cblr-1780	397	8	motif	motif	NOUN
cblr-1780	397	9	,	,	PUNCT
cblr-1780	397	10	which	which	PRON
cblr-1780	397	11	offers	offer	VERB
cblr-1780	397	12	investors	investor	NOUN
cblr-1780	397	13	theme	theme	NOUN
cblr-1780	397	14	-	-	PUNCT
cblr-1780	397	15	based	base	VERB
cblr-1780	397	16	collections	collection	NOUN
cblr-1780	397	17	of	of	ADP
cblr-1780	397	18	securities	security	NOUN
cblr-1780	397	19	to	to	PART
cblr-1780	397	20	invest	invest	VERB
cblr-1780	397	21	in	in	ADP
cblr-1780	397	22	at	at	ADP
cblr-1780	397	23	a	a	DET
cblr-1780	397	24	relatively	relatively	ADV
cblr-1780	397	25	low	low	ADJ
cblr-1780	397	26	cost	cost	NOUN
cblr-1780	397	27	.	.	PUNCT
cblr-1780	398	1	another	another	DET
cblr-1780	398	2	organization	organization	NOUN
cblr-1780	398	3	,	,	PUNCT
cblr-1780	398	4	us	us	PROPN
cblr-1780	398	5	sif	sif	NOUN
cblr-1780	398	6	,	,	PUNCT
cblr-1780	398	7	offers	offer	VERB
cblr-1780	398	8	a	a	DET
cblr-1780	398	9	list	list	NOUN
cblr-1780	398	10	of	of	ADP
cblr-1780	398	11	mutual	mutual	ADJ
cblr-1780	398	12	funds	fund	NOUN
cblr-1780	398	13	which	which	PRON
cblr-1780	398	14	are	be	AUX
cblr-1780	398	15	designed	design	VERB
cblr-1780	398	16	to	to	PART
cblr-1780	398	17	serve	serve	VERB
cblr-1780	398	18	various	various	ADJ
cblr-1780	398	19	expressive	expressive	ADJ
cblr-1780	398	20	interests	interest	NOUN
cblr-1780	398	21	of	of	ADP
cblr-1780	398	22	investors	investor	NOUN
cblr-1780	398	23	.	.	PUNCT
cblr-1780	399	1	see	see	VERB
cblr-1780	399	2	about	about	ADP
cblr-1780	399	3	us	we	PRON
cblr-1780	399	4	,	,	PUNCT
cblr-1780	399	5	us	us	PROPN
cblr-1780	399	6	sif	sif	NOUN
cblr-1780	399	7	,	,	PUNCT
cblr-1780	399	8	http://perma.cc/r23c-cc8h	http://perma.cc/r23c-cc8h	ADJ
cblr-1780	399	9	(	(	PUNCT
cblr-1780	399	10	last	last	ADV
cblr-1780	399	11	visited	visit	VERB
cblr-1780	399	12	nov	nov	PROPN
cblr-1780	399	13	.	.	PROPN
cblr-1780	399	14	23	23	NUM
cblr-1780	399	15	,	,	PUNCT
cblr-1780	399	16	2014	2014	NUM
cblr-1780	399	17	)	)	PUNCT
cblr-1780	399	18	.	.	PUNCT
cblr-1780	400	1	the	the	DET
cblr-1780	400	2	creation	creation	NOUN
cblr-1780	400	3	of	of	ADP
cblr-1780	400	4	special	special	ADJ
cblr-1780	400	5	purpose	purpose	NOUN
cblr-1780	400	6	funds	fund	NOUN
cblr-1780	400	7	is	be	AUX
cblr-1780	400	8	likely	likely	ADJ
cblr-1780	400	9	to	to	PART
cblr-1780	400	10	lower	lower	VERB
cblr-1780	400	11	the	the	DET
cblr-1780	400	12	costs	cost	NOUN
cblr-1780	400	13	for	for	ADP
cblr-1780	400	14	investors	investor	NOUN
cblr-1780	400	15	interested	interested	ADJ
cblr-1780	400	16	in	in	ADP
cblr-1780	400	17	assuring	assure	VERB
cblr-1780	400	18	that	that	SCONJ
cblr-1780	400	19	their	their	PRON
cblr-1780	400	20	expressive	expressive	ADJ
cblr-1780	400	21	interests	interest	NOUN
cblr-1780	400	22	are	be	AUX
cblr-1780	400	23	addressed	address	VERB
cblr-1780	400	24	.	.	PUNCT
cblr-1780	401	1	the	the	DET
cblr-1780	401	2	second	second	ADJ
cblr-1780	401	3	market	market	NOUN
cblr-1780	401	4	force	force	NOUN
cblr-1780	401	5	that	that	PRON
cblr-1780	401	6	might	might	AUX
cblr-1780	401	7	lower	lower	VERB
cblr-1780	401	8	the	the	DET
cblr-1780	401	9	cost	cost	NOUN
cblr-1780	401	10	for	for	SCONJ
cblr-1780	401	11	investors	investor	NOUN
cblr-1780	401	12	to	to	PART
cblr-1780	401	13	invest	invest	VERB
cblr-1780	401	14	in	in	ADP
cblr-1780	401	15	firms	firm	NOUN
cblr-1780	401	16	that	that	PRON
cblr-1780	401	17	address	address	VERB
cblr-1780	401	18	their	their	PRON
cblr-1780	401	19	expressive	expressive	ADJ
cblr-1780	401	20	preferences	preference	NOUN
cblr-1780	401	21	is	be	AUX
cblr-1780	401	22	that	that	SCONJ
cblr-1780	401	23	firms	firm	NOUN
cblr-1780	401	24	will	will	AUX
cblr-1780	401	25	have	have	VERB
cblr-1780	401	26	an	an	DET
cblr-1780	401	27	incentive	incentive	NOUN
cblr-1780	401	28	to	to	PART
cblr-1780	401	29	make	make	VERB
cblr-1780	401	30	such	such	DET
cblr-1780	401	31	a	a	DET
cblr-1780	401	32	commitment	commitment	NOUN
cblr-1780	401	33	in	in	ADP
cblr-1780	401	34	order	order	NOUN
cblr-1780	401	35	to	to	PART
cblr-1780	401	36	access	access	VERB
cblr-1780	401	37	additional	additional	ADJ
cblr-1780	401	38	sources	source	NOUN
cblr-1780	401	39	of	of	ADP
cblr-1780	401	40	capital	capital	NOUN
cblr-1780	401	41	.	.	PUNCT
cblr-1780	402	1	professor	professor	NOUN
cblr-1780	402	2	robert	robert	PROPN
cblr-1780	402	3	sitkoff	sitkoff	PROPN
cblr-1780	402	4	nicely	nicely	ADV
cblr-1780	402	5	described	describe	VERB
cblr-1780	402	6	more	more	ADJ
cblr-1780	402	7	than	than	ADP
cblr-1780	402	8	a	a	DET
cblr-1780	402	9	decade	decade	NOUN
cblr-1780	402	10	ago	ago	ADV
cblr-1780	402	11	how	how	SCONJ
cblr-1780	402	12	such	such	DET
cblr-1780	402	13	a	a	DET
cblr-1780	402	14	voluntary	voluntary	ADJ
cblr-1780	402	15	mechanism	mechanism	NOUN
cblr-1780	402	16	was	be	AUX
cblr-1780	402	17	already	already	ADV
cblr-1780	402	18	addressing	address	VERB
cblr-1780	402	19	many	many	ADJ
cblr-1780	402	20	various	various	ADJ
cblr-1780	402	21	expressive	expressive	ADJ
cblr-1780	402	22	investor	investor	NOUN
cblr-1780	402	23	concerns	concern	NOUN
cblr-1780	402	24	,	,	PUNCT
cblr-1780	402	25	including	include	VERB
cblr-1780	402	26	political	political	ADJ
cblr-1780	402	27	spending	spending	NOUN
cblr-1780	402	28	.	.	PUNCT
cblr-1780	403	1	robert	robert	PROPN
cblr-1780	403	2	h.	h.	PROPN
cblr-1780	403	3	sitkoff	sitkoff	PROPN
cblr-1780	403	4	,	,	PUNCT
cblr-1780	403	5	corporate	corporate	ADJ
cblr-1780	403	6	political	political	ADJ
cblr-1780	403	7	speech	speech	NOUN
cblr-1780	403	8	,	,	PUNCT
cblr-1780	403	9	political	political	ADJ
cblr-1780	403	10	extortion	extortion	NOUN
cblr-1780	403	11	,	,	PUNCT
cblr-1780	403	12	and	and	CCONJ
cblr-1780	403	13	the	the	DET
cblr-1780	403	14	competition	competition	NOUN
cblr-1780	403	15	for	for	ADP
cblr-1780	403	16	corporate	corporate	ADJ
cblr-1780	403	17	charters	charter	NOUN
cblr-1780	403	18	,	,	PUNCT
cblr-1780	403	19	69	69	NUM
cblr-1780	403	20	u.	u.	NOUN
cblr-1780	403	21	chi	chi	PROPN
cblr-1780	403	22	.	.	PUNCT
cblr-1780	404	1	l.	l.	PROPN
cblr-1780	404	2	rev	rev	PROPN
cblr-1780	404	3	.	.	PROPN
cblr-1780	404	4	1103	1103	NUM
cblr-1780	404	5	,	,	PUNCT
cblr-1780	404	6	1119	1119	NUM
cblr-1780	404	7	(	(	PUNCT
cblr-1780	404	8	2002	2002	NUM
cblr-1780	404	9	)	)	PUNCT
cblr-1780	404	10	(	(	PUNCT
cblr-1780	404	11	“	"	PUNCT
cblr-1780	404	12	take	take	VERB
cblr-1780	404	13	the	the	DET
cblr-1780	404	14	assumption	assumption	NOUN
cblr-1780	404	15	that	that	SCONJ
cblr-1780	404	16	in	in	ADP
cblr-1780	404	17	the	the	DET
cblr-1780	404	18	absence	absence	NOUN
cblr-1780	404	19	of	of	ADP
cblr-1780	404	20	a	a	DET
cblr-1780	404	21	statutory	statutory	ADJ
cblr-1780	404	22	prohibition	prohibition	NOUN
cblr-1780	404	23	no	no	DET
cblr-1780	404	24	firm	firm	NOUN
cblr-1780	404	25	would	would	AUX
cblr-1780	404	26	swear	swear	VERB
cblr-1780	404	27	off	off	ADP
cblr-1780	404	28	political	political	ADJ
cblr-1780	404	29	activity	activity	NOUN
cblr-1780	404	30	.	.	PUNCT
cblr-1780	405	1	if	if	SCONJ
cblr-1780	405	2	there	there	PRON
cblr-1780	405	3	are	be	VERB
cblr-1780	405	4	resources	resource	NOUN
cblr-1780	405	5	held	hold	VERB
cblr-1780	405	6	by	by	ADP
cblr-1780	405	7	prospective	prospective	ADJ
cblr-1780	405	8	investors	investor	NOUN
cblr-1780	405	9	who	who	PRON
cblr-1780	405	10	are	be	AUX
cblr-1780	405	11	skittish	skittish	ADJ
cblr-1780	405	12	about	about	ADP
cblr-1780	405	13	funding	fund	VERB
cblr-1780	405	14	political	political	ADJ
cblr-1780	405	15	speech	speech	NOUN
cblr-1780	405	16	(	(	PUNCT
cblr-1780	405	17	perhaps	perhaps	ADV
cblr-1780	405	18	because	because	SCONJ
cblr-1780	405	19	they	they	PRON
cblr-1780	405	20	are	be	AUX
cblr-1780	405	21	a	a	DET
cblr-1780	405	22	church	church	NOUN
cblr-1780	405	23	or	or	CCONJ
cblr-1780	405	24	a	a	DET
cblr-1780	405	25	university	university	NOUN
cblr-1780	405	26	)	)	PUNCT
cblr-1780	405	27	but	but	CCONJ
cblr-1780	405	28	otherwise	otherwise	ADV
cblr-1780	405	29	would	would	AUX
cblr-1780	405	30	be	be	AUX
cblr-1780	405	31	happy	happy	ADJ
cblr-1780	405	32	to	to	PART
cblr-1780	405	33	invest	invest	VERB
cblr-1780	405	34	in	in	ADP
cblr-1780	405	35	stock	stock	NOUN
cblr-1780	405	36	,	,	PUNCT
cblr-1780	405	37	then	then	ADV
cblr-1780	405	38	some	some	DET
cblr-1780	405	39	firms	firm	NOUN
cblr-1780	405	40	would	would	AUX
cblr-1780	405	41	simply	simply	ADV
cblr-1780	405	42	insert	insert	VERB
cblr-1780	405	43	‘	'	PUNCT
cblr-1780	405	44	no	no	DET
cblr-1780	405	45	politics	politic	NOUN
cblr-1780	405	46	’	'	PUNCT
cblr-1780	405	47	clauses	clause	NOUN
cblr-1780	405	48	into	into	ADP
cblr-1780	405	49	their	their	PRON
cblr-1780	405	50	corporate	corporate	ADJ
cblr-1780	405	51	charters	charter	NOUN
cblr-1780	405	52	,	,	PUNCT
cblr-1780	405	53	or	or	CCONJ
cblr-1780	405	54	mutual	mutual	ADJ
cblr-1780	405	55	fund	fund	NOUN
cblr-1780	405	56	companies	company	NOUN
cblr-1780	405	57	would	would	AUX
cblr-1780	405	58	create	create	VERB
cblr-1780	405	59	a	a	DET
cblr-1780	405	60	‘	'	PUNCT
cblr-1780	405	61	no	no	DET
cblr-1780	405	62	politics	politic	NOUN
cblr-1780	405	63	’	'	PUNCT
cblr-1780	405	64	fund	fund	NOUN
cblr-1780	405	65	,	,	PUNCT
cblr-1780	405	66	to	to	PART
cblr-1780	405	67	tap	tap	VERB
cblr-1780	405	68	into	into	ADP
cblr-1780	405	69	this	this	DET
cblr-1780	405	70	source	source	NOUN
cblr-1780	405	71	of	of	ADP
cblr-1780	405	72	capital	capital	NOUN
cblr-1780	405	73	.	.	PUNCT
cblr-1780	406	1	consider	consider	VERB
cblr-1780	406	2	the	the	DET
cblr-1780	406	3	proliferation	proliferation	NOUN
cblr-1780	406	4	of	of	ADP
cblr-1780	406	5	‘	'	PUNCT
cblr-1780	406	6	social	social	ADJ
cblr-1780	406	7	responsibility	responsibility	NOUN
cblr-1780	406	8	’	'	PUNCT
cblr-1780	406	9	funds	fund	NOUN
cblr-1780	406	10	.	.	PUNCT
cblr-1780	407	1	these	these	DET
cblr-1780	407	2	funds	fund	NOUN
cblr-1780	407	3	assure	assure	VERB
cblr-1780	407	4	investors	investor	NOUN
cblr-1780	407	5	that	that	SCONJ
cblr-1780	407	6	their	their	PRON
cblr-1780	407	7	money	money	NOUN
cblr-1780	407	8	will	will	AUX
cblr-1780	407	9	not	not	PART
cblr-1780	407	10	be	be	AUX
cblr-1780	407	11	invested	invest	VERB
cblr-1780	407	12	in	in	ADP
cblr-1780	407	13	corporations	corporation	NOUN
cblr-1780	407	14	engaged	engage	VERB
cblr-1780	407	15	in	in	ADP
cblr-1780	407	16	certain	certain	ADJ
cblr-1780	407	17	specific	specific	ADJ
cblr-1780	407	18	forms	form	NOUN
cblr-1780	407	19	of	of	ADP
cblr-1780	407	20	behavior	behavior	NOUN
cblr-1780	407	21	,	,	PUNCT
cblr-1780	407	22	such	such	ADJ
cblr-1780	407	23	as	as	ADP
cblr-1780	407	24	the	the	DET
cblr-1780	407	25	sale	sale	NOUN
cblr-1780	407	26	of	of	ADP
cblr-1780	407	27	alcohol	alcohol	NOUN
cblr-1780	407	28	or	or	CCONJ
cblr-1780	407	29	tobacco	tobacco	NOUN
cblr-1780	407	30	,	,	PUNCT
cblr-1780	407	31	military	military	ADJ
cblr-1780	407	32	contracting	contracting	NOUN
cblr-1780	407	33	,	,	PUNCT
cblr-1780	407	34	abortion	abortion	NOUN
cblr-1780	407	35	-	-	PUNCT
cblr-1780	407	36	related	relate	VERB
cblr-1780	407	37	services	service	NOUN
cblr-1780	407	38	,	,	PUNCT
cblr-1780	407	39	and	and	CCONJ
cblr-1780	407	40	so	so	ADV
cblr-1780	407	41	on	on	ADV
cblr-1780	407	42	.	.	PUNCT
cblr-1780	408	1	there	there	PRON
cblr-1780	408	2	is	be	VERB
cblr-1780	408	3	a	a	DET
cblr-1780	408	4	fund	fund	NOUN
cblr-1780	408	5	for	for	ADP
cblr-1780	408	6	everyone	everyone	PRON
cblr-1780	408	7	:	:	PUNCT
cblr-1780	408	8	just	just	ADV
cblr-1780	408	9	as	as	SCONJ
cblr-1780	408	10	the	the	DET
cblr-1780	408	11	meyers	meyer	NOUN
cblr-1780	408	12	pride	pride	NOUN
cblr-1780	408	13	value	value	NOUN
cblr-1780	408	14	fund	fund	NOUN
cblr-1780	408	15	avoids	avoid	VERB
cblr-1780	408	16	companies	company	NOUN
cblr-1780	408	17	that	that	PRON
cblr-1780	408	18	lack	lack	VERB
cblr-1780	408	19	stated	state	VERB
cblr-1780	408	20	policies	policy	NOUN
cblr-1780	408	21	against	against	ADP
cblr-1780	408	22	discrimination	discrimination	NOUN
cblr-1780	408	23	on	on	ADP
cblr-1780	408	24	the	the	DET
cblr-1780	408	25	basis	basis	NOUN
cblr-1780	408	26	of	of	ADP
cblr-1780	408	27	sexual	sexual	ADJ
cblr-1780	408	28	guttentag	guttentag	NOUN
cblr-1780	408	29	–	–	PUNCT
cblr-1780	408	30	final	final	ADJ
cblr-1780	408	31	622	622	NUM
cblr-1780	408	32	columbia	columbia	PROPN
cblr-1780	408	33	business	business	NOUN
cblr-1780	408	34	law	law	NOUN
cblr-1780	408	35	review	review	NOUN
cblr-1780	408	36	[	[	X
cblr-1780	408	37	vol	vol	NOUN
cblr-1780	408	38	.	.	PUNCT
cblr-1780	408	39	2014	2014	NUM
cblr-1780	408	40	report	report	NOUN
cblr-1780	408	41	that	that	SCONJ
cblr-1780	408	42	a	a	DET
cblr-1780	408	43	number	number	NOUN
cblr-1780	408	44	of	of	ADP
cblr-1780	408	45	public	public	ADJ
cblr-1780	408	46	companies	company	NOUN
cblr-1780	408	47	have	have	AUX
cblr-1780	408	48	already	already	ADV
cblr-1780	408	49	committed	commit	VERB
cblr-1780	408	50	to	to	ADP
cblr-1780	408	51	disclosing	disclose	VERB
cblr-1780	408	52	their	their	PRON
cblr-1780	408	53	political	political	ADJ
cblr-1780	408	54	spending.97	spending.97	NOUN
cblr-1780	408	55	following	follow	VERB
cblr-1780	408	56	an	an	DET
cblr-1780	408	57	investment	investment	NOUN
cblr-1780	408	58	strategy	strategy	NOUN
cblr-1780	408	59	that	that	PRON
cblr-1780	408	60	avoids	avoid	VERB
cblr-1780	408	61	firms	firm	NOUN
cblr-1780	408	62	engaging	engage	VERB
cblr-1780	408	63	in	in	ADP
cblr-1780	408	64	objectionable	objectionable	ADJ
cblr-1780	408	65	political	political	ADJ
cblr-1780	408	66	spending	spending	NOUN
cblr-1780	408	67	is	be	AUX
cblr-1780	408	68	already	already	ADV
cblr-1780	408	69	a	a	DET
cblr-1780	408	70	real	real	ADJ
cblr-1780	408	71	option	option	NOUN
cblr-1780	408	72	for	for	ADP
cblr-1780	408	73	concerned	concerned	ADJ
cblr-1780	408	74	investors	investor	NOUN
cblr-1780	408	75	.	.	PUNCT
cblr-1780	409	1	it	it	PRON
cblr-1780	409	2	is	be	AUX
cblr-1780	409	3	well	well	ADV
cblr-1780	409	4	-	-	PUNCT
cblr-1780	409	5	recognized	recognize	VERB
cblr-1780	409	6	that	that	SCONJ
cblr-1780	409	7	unraveling	unraveling	NOUN
cblr-1780	409	8	may	may	AUX
cblr-1780	409	9	not	not	PART
cblr-1780	409	10	solve	solve	VERB
cblr-1780	409	11	all	all	DET
cblr-1780	409	12	public	public	ADJ
cblr-1780	409	13	company	company	NOUN
cblr-1780	409	14	disclosure	disclosure	NOUN
cblr-1780	409	15	market	market	NOUN
cblr-1780	409	16	failures,98	failures,98	NOUN
cblr-1780	409	17	but	but	CCONJ
cblr-1780	409	18	bebchuk	bebchuk	PROPN
cblr-1780	409	19	and	and	CCONJ
cblr-1780	409	20	jackson	jackson	PROPN
cblr-1780	409	21	do	do	AUX
cblr-1780	409	22	not	not	PART
cblr-1780	409	23	explain	explain	VERB
cblr-1780	409	24	why	why	SCONJ
cblr-1780	409	25	unraveling	unraveling	NOUN
cblr-1780	409	26	would	would	AUX
cblr-1780	409	27	fail	fail	VERB
cblr-1780	409	28	to	to	PART
cblr-1780	409	29	provide	provide	VERB
cblr-1780	409	30	expressive	expressive	ADJ
cblr-1780	409	31	investor	investor	NOUN
cblr-1780	409	32	protection	protection	NOUN
cblr-1780	409	33	in	in	ADP
cblr-1780	409	34	the	the	DET
cblr-1780	409	35	context	context	NOUN
cblr-1780	409	36	of	of	ADP
cblr-1780	409	37	political	political	ADJ
cblr-1780	409	38	spending	spending	NOUN
cblr-1780	409	39	by	by	ADP
cblr-1780	409	40	public	public	ADJ
cblr-1780	409	41	firms	firm	NOUN
cblr-1780	409	42	.	.	PUNCT
cblr-1780	410	1	even	even	ADV
cblr-1780	410	2	partial	partial	ADJ
cblr-1780	410	3	unraveling	unraveling	NOUN
cblr-1780	410	4	should	should	AUX
cblr-1780	410	5	,	,	PUNCT
cblr-1780	410	6	and	and	CCONJ
cblr-1780	410	7	probably	probably	ADV
cblr-1780	410	8	already	already	ADV
cblr-1780	410	9	does	do	AUX
cblr-1780	410	10	,	,	PUNCT
cblr-1780	410	11	provide	provide	VERB
cblr-1780	410	12	investors	investor	NOUN
cblr-1780	410	13	enough	enough	ADJ
cblr-1780	410	14	options	option	NOUN
cblr-1780	410	15	to	to	PART
cblr-1780	410	16	ensure	ensure	VERB
cblr-1780	410	17	that	that	SCONJ
cblr-1780	410	18	they	they	PRON
cblr-1780	410	19	can	can	AUX
cblr-1780	410	20	find	find	VERB
cblr-1780	410	21	investment	investment	NOUN
cblr-1780	410	22	opportunities	opportunity	NOUN
cblr-1780	410	23	that	that	PRON
cblr-1780	410	24	both	both	PRON
cblr-1780	410	25	address	address	VERB
cblr-1780	410	26	their	their	PRON
cblr-1780	410	27	expressive	expressive	ADJ
cblr-1780	410	28	concerns	concern	NOUN
cblr-1780	410	29	and	and	CCONJ
cblr-1780	410	30	provide	provide	VERB
cblr-1780	410	31	market	market	NOUN
cblr-1780	410	32	returns	return	NOUN
cblr-1780	410	33	without	without	ADP
cblr-1780	410	34	any	any	DET
cblr-1780	410	35	regulatory	regulatory	ADJ
cblr-1780	410	36	intervention	intervention	NOUN
cblr-1780	410	37	.	.	PUNCT
cblr-1780	411	1	the	the	DET
cblr-1780	411	2	second	second	ADJ
cblr-1780	411	3	observation	observation	NOUN
cblr-1780	411	4	suggesting	suggest	VERB
cblr-1780	411	5	why	why	SCONJ
cblr-1780	411	6	mandatory	mandatory	ADJ
cblr-1780	411	7	disclosure	disclosure	NOUN
cblr-1780	411	8	is	be	AUX
cblr-1780	411	9	unlikely	unlikely	ADJ
cblr-1780	411	10	to	to	PART
cblr-1780	411	11	be	be	AUX
cblr-1780	411	12	the	the	DET
cblr-1780	411	13	best	good	ADJ
cblr-1780	411	14	tool	tool	NOUN
cblr-1780	411	15	for	for	ADP
cblr-1780	411	16	addressing	address	VERB
cblr-1780	411	17	expressive	expressive	ADJ
cblr-1780	411	18	investor	investor	NOUN
cblr-1780	411	19	protection	protection	NOUN
cblr-1780	411	20	relates	relate	VERB
cblr-1780	411	21	to	to	ADP
cblr-1780	411	22	a	a	DET
cblr-1780	411	23	line	line	NOUN
cblr-1780	411	24	-	-	PUNCT
cblr-1780	411	25	drawing	draw	VERB
cblr-1780	411	26	challenge	challenge	NOUN
cblr-1780	411	27	.	.	PUNCT
cblr-1780	412	1	it	it	PRON
cblr-1780	412	2	is	be	AUX
cblr-1780	412	3	certainly	certainly	ADV
cblr-1780	412	4	true	true	ADJ
cblr-1780	412	5	that	that	SCONJ
cblr-1780	412	6	line	line	NOUN
cblr-1780	412	7	-	-	PUNCT
cblr-1780	412	8	drawing	draw	VERB
cblr-1780	412	9	challenges	challenge	NOUN
cblr-1780	412	10	are	be	AUX
cblr-1780	412	11	ubiquitous	ubiquitous	ADJ
cblr-1780	412	12	and	and	CCONJ
cblr-1780	412	13	not	not	PART
cblr-1780	412	14	reason	reason	NOUN
cblr-1780	412	15	enough	enough	ADJ
cblr-1780	412	16	to	to	PART
cblr-1780	412	17	avoid	avoid	VERB
cblr-1780	412	18	regulatory	regulatory	ADJ
cblr-1780	412	19	intervention	intervention	NOUN
cblr-1780	412	20	,	,	PUNCT
cblr-1780	412	21	but	but	CCONJ
cblr-1780	412	22	without	without	ADP
cblr-1780	412	23	a	a	DET
cblr-1780	412	24	theory	theory	NOUN
cblr-1780	412	25	about	about	ADP
cblr-1780	412	26	why	why	SCONJ
cblr-1780	412	27	expressive	expressive	ADJ
cblr-1780	412	28	investor	investor	NOUN
cblr-1780	412	29	concerns	concern	NOUN
cblr-1780	412	30	deserve	deserve	VERB
cblr-1780	412	31	a	a	DET
cblr-1780	412	32	regulatory	regulatory	ADJ
cblr-1780	412	33	response	response	NOUN
cblr-1780	412	34	such	such	ADJ
cblr-1780	412	35	linedrawing	linedrawing	NOUN
cblr-1780	412	36	challenges	challenge	NOUN
cblr-1780	412	37	would	would	AUX
cblr-1780	412	38	likely	likely	ADV
cblr-1780	412	39	prove	prove	VERB
cblr-1780	412	40	insurmountable	insurmountable	ADJ
cblr-1780	412	41	.	.	PUNCT
cblr-1780	413	1	there	there	PRON
cblr-1780	413	2	are	be	VERB
cblr-1780	413	3	many	many	ADJ
cblr-1780	413	4	actions	action	NOUN
cblr-1780	413	5	firms	firm	NOUN
cblr-1780	413	6	might	might	AUX
cblr-1780	413	7	take	take	VERB
cblr-1780	413	8	that	that	PRON
cblr-1780	413	9	could	could	AUX
cblr-1780	413	10	offend	offend	VERB
cblr-1780	413	11	some	some	PRON
cblr-1780	413	12	of	of	ADP
cblr-1780	413	13	the	the	DET
cblr-1780	413	14	firm	firm	NOUN
cblr-1780	413	15	’s	’s	PART
cblr-1780	413	16	shareholders	shareholder	NOUN
cblr-1780	413	17	.	.	PUNCT
cblr-1780	414	1	robert	robert	PROPN
cblr-1780	414	2	sitkoff	sitkoff	PROPN
cblr-1780	414	3	lists	list	VERB
cblr-1780	414	4	just	just	ADV
cblr-1780	414	5	a	a	DET
cblr-1780	414	6	few	few	ADJ
cblr-1780	414	7	of	of	ADP
cblr-1780	414	8	the	the	DET
cblr-1780	414	9	ways	way	NOUN
cblr-1780	414	10	a	a	DET
cblr-1780	414	11	firm	firm	NOUN
cblr-1780	414	12	’s	’s	PART
cblr-1780	414	13	business	business	NOUN
cblr-1780	414	14	operations	operation	NOUN
cblr-1780	414	15	may	may	AUX
cblr-1780	414	16	touch	touch	VERB
cblr-1780	414	17	on	on	ADP
cblr-1780	414	18	issues	issue	NOUN
cblr-1780	414	19	related	relate	VERB
cblr-1780	414	20	to	to	ADP
cblr-1780	414	21	expressive	expressive	ADJ
cblr-1780	414	22	investor	investor	NOUN
cblr-1780	414	23	protection	protection	NOUN
cblr-1780	414	24	concerns	concern	NOUN
cblr-1780	414	25	,	,	PUNCT
cblr-1780	414	26	including	include	VERB
cblr-1780	414	27	:	:	PUNCT
cblr-1780	414	28	the	the	DET
cblr-1780	414	29	sale	sale	NOUN
cblr-1780	414	30	of	of	ADP
cblr-1780	414	31	alcohol	alcohol	NOUN
cblr-1780	414	32	or	or	CCONJ
cblr-1780	414	33	tobacco	tobacco	NOUN
cblr-1780	414	34	,	,	PUNCT
cblr-1780	414	35	providing	provide	VERB
cblr-1780	414	36	goods	good	NOUN
cblr-1780	414	37	or	or	CCONJ
cblr-1780	414	38	services	service	NOUN
cblr-1780	414	39	for	for	ADP
cblr-1780	414	40	military	military	ADJ
cblr-1780	414	41	purposes	purpose	NOUN
cblr-1780	414	42	,	,	PUNCT
cblr-1780	414	43	the	the	DET
cblr-1780	414	44	production	production	NOUN
cblr-1780	414	45	of	of	ADP
cblr-1780	414	46	firearms	firearm	NOUN
cblr-1780	414	47	,	,	PUNCT
cblr-1780	414	48	providing	provide	VERB
cblr-1780	414	49	abortion	abortion	NOUN
cblr-1780	414	50	-	-	PUNCT
cblr-1780	414	51	related	relate	VERB
cblr-1780	414	52	services	service	NOUN
cblr-1780	414	53	,	,	PUNCT
cblr-1780	414	54	and	and	CCONJ
cblr-1780	414	55	employee	employee	NOUN
cblr-1780	414	56	policies	policy	NOUN
cblr-1780	414	57	including	include	VERB
cblr-1780	414	58	the	the	DET
cblr-1780	414	59	absence	absence	NOUN
cblr-1780	414	60	of	of	ADP
cblr-1780	414	61	a	a	DET
cblr-1780	414	62	stated	state	VERB
cblr-1780	414	63	policy	policy	NOUN
cblr-1780	414	64	against	against	ADP
cblr-1780	414	65	discrimination	discrimination	NOUN
cblr-1780	414	66	on	on	ADP
cblr-1780	414	67	the	the	DET
cblr-1780	414	68	basis	basis	NOUN
cblr-1780	414	69	of	of	ADP
cblr-1780	414	70	sexual	sexual	ADJ
cblr-1780	414	71	orientation	orientation	NOUN
cblr-1780	414	72	,	,	PUNCT
cblr-1780	414	73	or	or	CCONJ
cblr-1780	414	74	,	,	PUNCT
cblr-1780	414	75	on	on	ADP
cblr-1780	414	76	the	the	DET
cblr-1780	414	77	other	other	ADJ
cblr-1780	414	78	side	side	NOUN
cblr-1780	414	79	of	of	ADP
cblr-1780	414	80	the	the	DET
cblr-1780	414	81	political	political	ADJ
cblr-1780	414	82	spectrum	spectrum	NOUN
cblr-1780	414	83	,	,	PUNCT
cblr-1780	414	84	the	the	DET
cblr-1780	414	85	granting	granting	NOUN
cblr-1780	414	86	of	of	ADP
cblr-1780	414	87	domestic	domestic	ADJ
cblr-1780	414	88	partner	partner	NOUN
cblr-1780	414	89	benefits.99	benefits.99	PROPN
cblr-1780	414	90	bebchuk	bebchuk	PROPN
cblr-1780	414	91	and	and	CCONJ
cblr-1780	414	92	jackson	jackson	PROPN
cblr-1780	414	93	’s	’s	PART
cblr-1780	414	94	analysis	analysis	NOUN
cblr-1780	414	95	provides	provide	VERB
cblr-1780	414	96	orientation	orientation	NOUN
cblr-1780	414	97	,	,	PUNCT
cblr-1780	414	98	the	the	DET
cblr-1780	414	99	timothy	timothy	PROPN
cblr-1780	414	100	plan	plan	NOUN
cblr-1780	414	101	funds	fund	NOUN
cblr-1780	414	102	avoid	avoid	VERB
cblr-1780	414	103	companies	company	NOUN
cblr-1780	414	104	that	that	PRON
cblr-1780	414	105	provide	provide	VERB
cblr-1780	414	106	domestic	domestic	ADJ
cblr-1780	414	107	partner	partner	NOUN
cblr-1780	414	108	benefits	benefit	NOUN
cblr-1780	414	109	.	.	PUNCT
cblr-1780	414	110	”	"	PUNCT
cblr-1780	414	111	)	)	PUNCT
cblr-1780	414	112	.	.	PUNCT
cblr-1780	415	1	97	97	NUM
cblr-1780	415	2	bebchuk	bebchuk	PROPN
cblr-1780	415	3	&	&	CCONJ
cblr-1780	415	4	jackson	jackson	PROPN
cblr-1780	415	5	,	,	PUNCT
cblr-1780	415	6	shining	shine	VERB
cblr-1780	415	7	light	light	NOUN
cblr-1780	415	8	,	,	PUNCT
cblr-1780	415	9	supra	supra	PROPN
cblr-1780	415	10	note	note	NOUN
cblr-1780	415	11	27	27	NUM
cblr-1780	415	12	,	,	PUNCT
cblr-1780	415	13	at	at	ADP
cblr-1780	415	14	946–48	946–48	NUM
cblr-1780	415	15	.	.	PUNCT
cblr-1780	416	1	98	98	NUM
cblr-1780	416	2	see	see	VERB
cblr-1780	416	3	infra	infra	NOUN
cblr-1780	416	4	part	part	NOUN
cblr-1780	416	5	iii.b	iii.b	X
cblr-1780	416	6	.	.	PROPN
cblr-1780	416	7	99	99	NUM
cblr-1780	416	8	sitkoff	sitkoff	NOUN
cblr-1780	416	9	,	,	PUNCT
cblr-1780	416	10	supra	supra	PROPN
cblr-1780	416	11	note	note	NOUN
cblr-1780	416	12	96	96	NUM
cblr-1780	416	13	,	,	PUNCT
cblr-1780	416	14	at	at	ADP
cblr-1780	416	15	1119	1119	NUM
cblr-1780	416	16	.	.	PUNCT
cblr-1780	417	1	guttentag	guttentag	NOUN
cblr-1780	417	2	–	–	PUNCT
cblr-1780	417	3	final	final	ADJ
cblr-1780	417	4	no	no	NOUN
cblr-1780	417	5	.	.	PUNCT
cblr-1780	418	1	3:593	3:593	NUM
cblr-1780	418	2	]	]	PUNCT
cblr-1780	418	3	on	on	ADP
cblr-1780	418	4	political	political	ADJ
cblr-1780	418	5	spending	spending	NOUN
cblr-1780	418	6	disclosure	disclosure	NOUN
cblr-1780	418	7	623	623	NUM
cblr-1780	419	1	no	no	DET
cblr-1780	419	2	guidance	guidance	NOUN
cblr-1780	419	3	for	for	ADP
cblr-1780	419	4	determining	determine	VERB
cblr-1780	419	5	when	when	SCONJ
cblr-1780	419	6	the	the	DET
cblr-1780	419	7	potential	potential	ADJ
cblr-1780	419	8	expressive	expressive	ADJ
cblr-1780	419	9	significance	significance	NOUN
cblr-1780	419	10	to	to	ADP
cblr-1780	419	11	investors	investor	NOUN
cblr-1780	419	12	of	of	ADP
cblr-1780	419	13	the	the	DET
cblr-1780	419	14	firm	firm	NOUN
cblr-1780	419	15	’s	’s	PART
cblr-1780	419	16	activities	activity	NOUN
cblr-1780	419	17	should	should	AUX
cblr-1780	419	18	trigger	trigger	VERB
cblr-1780	419	19	a	a	DET
cblr-1780	419	20	mandatory	mandatory	ADJ
cblr-1780	419	21	disclosure	disclosure	NOUN
cblr-1780	419	22	obligation	obligation	NOUN
cblr-1780	419	23	,	,	PUNCT
cblr-1780	419	24	and	and	CCONJ
cblr-1780	419	25	mandatory	mandatory	ADJ
cblr-1780	419	26	disclosure	disclosure	NOUN
cblr-1780	419	27	of	of	ADP
cblr-1780	419	28	any	any	DET
cblr-1780	419	29	behavior	behavior	NOUN
cblr-1780	419	30	that	that	PRON
cblr-1780	419	31	touches	touch	VERB
cblr-1780	419	32	on	on	ADP
cblr-1780	419	33	investor	investor	NOUN
cblr-1780	419	34	expressive	expressive	ADJ
cblr-1780	419	35	concerns	concern	NOUN
cblr-1780	419	36	seems	seem	VERB
cblr-1780	419	37	unwieldy	unwieldy	ADJ
cblr-1780	419	38	.	.	PUNCT
cblr-1780	420	1	the	the	DET
cblr-1780	420	2	third	third	ADJ
cblr-1780	420	3	observation	observation	NOUN
cblr-1780	420	4	suggesting	suggest	VERB
cblr-1780	420	5	why	why	SCONJ
cblr-1780	420	6	mandatory	mandatory	ADJ
cblr-1780	420	7	disclosure	disclosure	NOUN
cblr-1780	420	8	is	be	AUX
cblr-1780	420	9	unlikely	unlikely	ADJ
cblr-1780	420	10	to	to	PART
cblr-1780	420	11	be	be	AUX
cblr-1780	420	12	the	the	DET
cblr-1780	420	13	best	good	ADJ
cblr-1780	420	14	tool	tool	NOUN
cblr-1780	420	15	for	for	ADP
cblr-1780	420	16	addressing	address	VERB
cblr-1780	420	17	expressive	expressive	ADJ
cblr-1780	420	18	investor	investor	NOUN
cblr-1780	420	19	protection	protection	NOUN
cblr-1780	420	20	relates	relate	VERB
cblr-1780	420	21	to	to	ADP
cblr-1780	420	22	the	the	DET
cblr-1780	420	23	mismatch	mismatch	NOUN
cblr-1780	420	24	between	between	ADP
cblr-1780	420	25	the	the	DET
cblr-1780	420	26	investors	investor	NOUN
cblr-1780	420	27	who	who	PRON
cblr-1780	420	28	might	might	AUX
cblr-1780	420	29	have	have	VERB
cblr-1780	420	30	such	such	ADJ
cblr-1780	420	31	concerns	concern	NOUN
cblr-1780	420	32	and	and	CCONJ
cblr-1780	420	33	differences	difference	NOUN
cblr-1780	420	34	between	between	ADP
cblr-1780	420	35	public	public	ADJ
cblr-1780	420	36	firms	firm	NOUN
cblr-1780	420	37	and	and	CCONJ
cblr-1780	420	38	private	private	ADJ
cblr-1780	420	39	firm	firm	NOUN
cblr-1780	420	40	.	.	PUNCT
cblr-1780	421	1	firms	firm	NOUN
cblr-1780	421	2	are	be	AUX
cblr-1780	421	3	public	public	ADJ
cblr-1780	421	4	or	or	CCONJ
cblr-1780	421	5	private	private	ADJ
cblr-1780	421	6	depending	depend	VERB
cblr-1780	421	7	on	on	ADP
cblr-1780	421	8	considerations	consideration	NOUN
cblr-1780	421	9	such	such	ADJ
cblr-1780	421	10	as	as	ADP
cblr-1780	421	11	where	where	SCONJ
cblr-1780	421	12	the	the	DET
cblr-1780	421	13	firm	firm	NOUN
cblr-1780	421	14	’s	’s	PART
cblr-1780	421	15	securities	security	NOUN
cblr-1780	421	16	are	be	AUX
cblr-1780	421	17	traded	trade	VERB
cblr-1780	421	18	or	or	CCONJ
cblr-1780	421	19	how	how	SCONJ
cblr-1780	421	20	many	many	ADJ
cblr-1780	421	21	“	"	PUNCT
cblr-1780	421	22	beneficial	beneficial	ADJ
cblr-1780	421	23	”	"	PUNCT
cblr-1780	421	24	shareholders	shareholder	NOUN
cblr-1780	421	25	the	the	DET
cblr-1780	421	26	firm	firm	ADJ
cblr-1780	421	27	has.100	has.100	PROPN
cblr-1780	421	28	bebchuk	bebchuk	PROPN
cblr-1780	421	29	and	and	CCONJ
cblr-1780	421	30	jackson	jackson	PROPN
cblr-1780	421	31	’s	’s	PART
cblr-1780	421	32	proposal	proposal	NOUN
cblr-1780	421	33	is	be	AUX
cblr-1780	421	34	that	that	SCONJ
cblr-1780	421	35	only	only	ADV
cblr-1780	421	36	public	public	ADJ
cblr-1780	421	37	firms	firm	NOUN
cblr-1780	421	38	,	,	PUNCT
cblr-1780	421	39	which	which	PRON
cblr-1780	421	40	are	be	AUX
cblr-1780	421	41	already	already	ADV
cblr-1780	421	42	required	require	VERB
cblr-1780	421	43	to	to	PART
cblr-1780	421	44	periodically	periodically	ADV
cblr-1780	421	45	disclose	disclose	VERB
cblr-1780	421	46	financial	financial	ADJ
cblr-1780	421	47	and	and	CCONJ
cblr-1780	421	48	operating	operate	VERB
cblr-1780	421	49	information	information	NOUN
cblr-1780	421	50	,	,	PUNCT
cblr-1780	421	51	also	also	ADV
cblr-1780	421	52	be	be	AUX
cblr-1780	421	53	required	require	VERB
cblr-1780	421	54	to	to	PART
cblr-1780	421	55	disclose	disclose	VERB
cblr-1780	421	56	political	political	ADJ
cblr-1780	421	57	spending	spending	NOUN
cblr-1780	421	58	.	.	PUNCT
cblr-1780	422	1	limiting	limit	VERB
cblr-1780	422	2	a	a	DET
cblr-1780	422	3	political	political	ADJ
cblr-1780	422	4	spending	spending	NOUN
cblr-1780	422	5	disclosure	disclosure	NOUN
cblr-1780	422	6	requirement	requirement	NOUN
cblr-1780	422	7	to	to	ADP
cblr-1780	422	8	public	public	ADJ
cblr-1780	422	9	firms	firm	NOUN
cblr-1780	422	10	is	be	AUX
cblr-1780	422	11	both	both	ADV
cblr-1780	422	12	unjustifiable	unjustifiable	ADJ
cblr-1780	422	13	and	and	CCONJ
cblr-1780	422	14	potentially	potentially	ADV
cblr-1780	422	15	counterproductive	counterproductive	ADJ
cblr-1780	422	16	if	if	SCONJ
cblr-1780	422	17	limiting	limit	VERB
cblr-1780	422	18	these	these	DET
cblr-1780	422	19	disclosure	disclosure	NOUN
cblr-1780	422	20	obligations	obligation	NOUN
cblr-1780	422	21	to	to	ADP
cblr-1780	422	22	public	public	ADJ
cblr-1780	422	23	companies	company	NOUN
cblr-1780	422	24	is	be	AUX
cblr-1780	422	25	based	base	VERB
cblr-1780	422	26	on	on	ADP
cblr-1780	422	27	protecting	protect	VERB
cblr-1780	422	28	investors	investor	NOUN
cblr-1780	422	29	’	'	PUNCT
cblr-1780	422	30	expressive	expressive	ADJ
cblr-1780	422	31	concerns	concern	NOUN
cblr-1780	422	32	.	.	PUNCT
cblr-1780	423	1	there	there	PRON
cblr-1780	423	2	are	be	VERB
cblr-1780	423	3	good	good	ADJ
cblr-1780	423	4	reasons	reason	NOUN
cblr-1780	423	5	to	to	PART
cblr-1780	423	6	be	be	AUX
cblr-1780	423	7	equally	equally	ADV
cblr-1780	423	8	,	,	PUNCT
cblr-1780	423	9	if	if	SCONJ
cblr-1780	423	10	not	not	PART
cblr-1780	423	11	more	more	ADV
cblr-1780	423	12	troubled	troubled	ADJ
cblr-1780	423	13	by	by	ADP
cblr-1780	423	14	the	the	DET
cblr-1780	423	15	expressive	expressive	ADJ
cblr-1780	423	16	concerns	concern	NOUN
cblr-1780	423	17	of	of	ADP
cblr-1780	423	18	investors	investor	NOUN
cblr-1780	423	19	in	in	ADP
cblr-1780	423	20	private	private	ADJ
cblr-1780	423	21	companies	company	NOUN
cblr-1780	423	22	.	.	PUNCT
cblr-1780	424	1	differences	difference	NOUN
cblr-1780	424	2	between	between	ADP
cblr-1780	424	3	public	public	ADJ
cblr-1780	424	4	firms	firm	NOUN
cblr-1780	424	5	and	and	CCONJ
cblr-1780	424	6	private	private	ADJ
cblr-1780	424	7	firms	firm	NOUN
cblr-1780	424	8	often	often	ADV
cblr-1780	424	9	have	have	VERB
cblr-1780	424	10	little	little	ADJ
cblr-1780	424	11	to	to	PART
cblr-1780	424	12	do	do	VERB
cblr-1780	424	13	with	with	ADP
cblr-1780	424	14	differences	difference	NOUN
cblr-1780	424	15	between	between	ADP
cblr-1780	424	16	the	the	DET
cblr-1780	424	17	investors	investor	NOUN
cblr-1780	424	18	who	who	PRON
cblr-1780	424	19	are	be	AUX
cblr-1780	424	20	the	the	DET
cblr-1780	424	21	ultimate	ultimate	ADJ
cblr-1780	424	22	owners	owner	NOUN
cblr-1780	424	23	of	of	ADP
cblr-1780	424	24	the	the	DET
cblr-1780	424	25	firm.101	firm.101	PROPN
cblr-1780	424	26	as	as	ADP
cblr-1780	424	27	a	a	DET
cblr-1780	424	28	result	result	NOUN
cblr-1780	424	29	,	,	PUNCT
cblr-1780	424	30	100	100	NUM
cblr-1780	424	31	michael	michael	PROPN
cblr-1780	424	32	d.	d.	PROPN
cblr-1780	424	33	guttentag	guttentag	PROPN
cblr-1780	424	34	,	,	PUNCT
cblr-1780	424	35	patching	patch	VERB
cblr-1780	424	36	a	a	DET
cblr-1780	424	37	hole	hole	NOUN
cblr-1780	424	38	in	in	ADP
cblr-1780	424	39	the	the	DET
cblr-1780	424	40	jobs	job	NOUN
cblr-1780	424	41	act	act	NOUN
cblr-1780	424	42	:	:	PUNCT
cblr-1780	424	43	how	how	SCONJ
cblr-1780	424	44	and	and	CCONJ
cblr-1780	424	45	why	why	SCONJ
cblr-1780	424	46	to	to	PART
cblr-1780	424	47	rewrite	rewrite	VERB
cblr-1780	424	48	the	the	DET
cblr-1780	424	49	rules	rule	NOUN
cblr-1780	424	50	that	that	PRON
cblr-1780	424	51	require	require	VERB
cblr-1780	424	52	firms	firm	NOUN
cblr-1780	424	53	to	to	PART
cblr-1780	424	54	make	make	VERB
cblr-1780	424	55	periodic	periodic	ADJ
cblr-1780	424	56	disclosures	disclosure	NOUN
cblr-1780	424	57	,	,	PUNCT
cblr-1780	424	58	88	88	NUM
cblr-1780	424	59	ind	ind	NOUN
cblr-1780	424	60	.	.	PUNCT
cblr-1780	425	1	l.j	l.j	PROPN
cblr-1780	425	2	.	.	PROPN
cblr-1780	425	3	151	151	NUM
cblr-1780	425	4	,	,	PUNCT
cblr-1780	425	5	152–53	152–53	NUM
cblr-1780	425	6	,	,	PUNCT
cblr-1780	425	7	157	157	NUM
cblr-1780	425	8	(	(	PUNCT
cblr-1780	425	9	2013	2013	NUM
cblr-1780	425	10	)	)	PUNCT
cblr-1780	426	1	[	[	X
cblr-1780	426	2	hereinafter	hereinafter	NOUN
cblr-1780	426	3	guttentag	guttentag	NOUN
cblr-1780	426	4	,	,	PUNCT
cblr-1780	426	5	patching	patch	VERB
cblr-1780	426	6	a	a	DET
cblr-1780	426	7	hole	hole	NOUN
cblr-1780	426	8	]	]	PUNCT
cblr-1780	426	9	.	.	PUNCT
cblr-1780	427	1	101	101	NUM
cblr-1780	427	2	one	one	NUM
cblr-1780	427	3	important	important	ADJ
cblr-1780	427	4	example	example	NOUN
cblr-1780	427	5	of	of	ADP
cblr-1780	427	6	similar	similar	ADJ
cblr-1780	427	7	beneficiaries	beneficiary	NOUN
cblr-1780	427	8	for	for	ADP
cblr-1780	427	9	public	public	ADJ
cblr-1780	427	10	and	and	CCONJ
cblr-1780	427	11	private	private	ADJ
cblr-1780	427	12	firms	firm	NOUN
cblr-1780	427	13	is	be	AUX
cblr-1780	427	14	provided	provide	VERB
cblr-1780	427	15	by	by	ADP
cblr-1780	427	16	the	the	DET
cblr-1780	427	17	widespread	widespread	ADJ
cblr-1780	427	18	ownership	ownership	NOUN
cblr-1780	427	19	of	of	ADP
cblr-1780	427	20	businesses	business	NOUN
cblr-1780	427	21	by	by	ADP
cblr-1780	427	22	private	private	ADJ
cblr-1780	427	23	equity	equity	NOUN
cblr-1780	427	24	firms	firm	NOUN
cblr-1780	427	25	.	.	PUNCT
cblr-1780	428	1	private	private	ADJ
cblr-1780	428	2	equity	equity	NOUN
cblr-1780	428	3	firms	firm	NOUN
cblr-1780	428	4	,	,	PUNCT
cblr-1780	428	5	which	which	PRON
cblr-1780	428	6	act	act	VERB
cblr-1780	428	7	as	as	ADP
cblr-1780	428	8	intermediaries	intermediary	NOUN
cblr-1780	428	9	between	between	ADP
cblr-1780	428	10	institutional	institutional	ADJ
cblr-1780	428	11	investors	investor	NOUN
cblr-1780	428	12	and	and	CCONJ
cblr-1780	428	13	businesses	business	NOUN
cblr-1780	428	14	of	of	ADP
cblr-1780	428	15	various	various	ADJ
cblr-1780	428	16	kinds	kind	NOUN
cblr-1780	428	17	,	,	PUNCT
cblr-1780	428	18	grew	grow	VERB
cblr-1780	428	19	in	in	ADP
cblr-1780	428	20	popularity	popularity	NOUN
cblr-1780	428	21	starting	start	VERB
cblr-1780	428	22	in	in	ADP
cblr-1780	428	23	the	the	DET
cblr-1780	428	24	1980s	1980s	NUM
cblr-1780	428	25	.	.	PUNCT
cblr-1780	429	1	by	by	ADP
cblr-1780	429	2	2008	2008	NUM
cblr-1780	429	3	there	there	PRON
cblr-1780	429	4	had	have	AUX
cblr-1780	429	5	“	"	PUNCT
cblr-1780	429	6	been	be	AUX
cblr-1780	429	7	a	a	DET
cblr-1780	429	8	large	large	ADJ
cblr-1780	429	9	movement	movement	NOUN
cblr-1780	429	10	of	of	ADP
cblr-1780	429	11	public	public	ADJ
cblr-1780	429	12	companies	company	NOUN
cblr-1780	429	13	into	into	ADP
cblr-1780	429	14	private	private	ADJ
cblr-1780	429	15	ownership	ownership	NOUN
cblr-1780	429	16	through	through	ADP
cblr-1780	429	17	leveraged	leveraged	ADJ
cblr-1780	429	18	acquisitions	acquisition	NOUN
cblr-1780	429	19	by	by	ADP
cblr-1780	429	20	private	private	ADJ
cblr-1780	429	21	equity	equity	NOUN
cblr-1780	429	22	firms	firm	NOUN
cblr-1780	429	23	.	.	PUNCT
cblr-1780	429	24	”	"	PUNCT
cblr-1780	430	1	ronald	ronald	PROPN
cblr-1780	430	2	j.	j.	PROPN
cblr-1780	430	3	gilson	gilson	PROPN
cblr-1780	430	4	&	&	CCONJ
cblr-1780	430	5	charles	charles	PROPN
cblr-1780	430	6	k.	k.	PROPN
cblr-1780	430	7	whitehead	whitehead	PROPN
cblr-1780	430	8	,	,	PUNCT
cblr-1780	430	9	deconstructing	deconstruct	VERB
cblr-1780	430	10	equity	equity	NOUN
cblr-1780	430	11	:	:	PUNCT
cblr-1780	430	12	public	public	ADJ
cblr-1780	430	13	ownership	ownership	NOUN
cblr-1780	430	14	,	,	PUNCT
cblr-1780	430	15	agency	agency	NOUN
cblr-1780	430	16	costs	cost	NOUN
cblr-1780	430	17	,	,	PUNCT
cblr-1780	430	18	and	and	CCONJ
cblr-1780	430	19	complete	complete	ADJ
cblr-1780	430	20	capital	capital	NOUN
cblr-1780	430	21	markets	market	NOUN
cblr-1780	430	22	,	,	PUNCT
cblr-1780	430	23	108	108	NUM
cblr-1780	430	24	colum	colum	NOUN
cblr-1780	430	25	.	.	PUNCT
cblr-1780	431	1	l.	l.	PROPN
cblr-1780	431	2	rev	rev	PROPN
cblr-1780	431	3	.	.	PROPN
cblr-1780	431	4	231	231	NUM
cblr-1780	431	5	,	,	PUNCT
cblr-1780	431	6	233	233	NUM
cblr-1780	431	7	(	(	PUNCT
cblr-1780	431	8	2008	2008	NUM
cblr-1780	431	9	)	)	PUNCT
cblr-1780	431	10	.	.	PUNCT
cblr-1780	432	1	one	one	NUM
cblr-1780	432	2	estimate	estimate	NOUN
cblr-1780	432	3	is	be	AUX
cblr-1780	432	4	that	that	SCONJ
cblr-1780	432	5	private	private	ADJ
cblr-1780	432	6	equity	equity	NOUN
cblr-1780	432	7	firms	firm	NOUN
cblr-1780	432	8	now	now	ADV
cblr-1780	432	9	“	"	PUNCT
cblr-1780	432	10	own	own	ADJ
cblr-1780	432	11	and	and	CCONJ
cblr-1780	432	12	operate	operate	VERB
cblr-1780	432	13	trillions	trillion	NOUN
cblr-1780	432	14	of	of	ADP
cblr-1780	432	15	guttentag	guttentag	NOUN
cblr-1780	432	16	–	–	PUNCT
cblr-1780	432	17	final	final	ADJ
cblr-1780	432	18	624	624	NUM
cblr-1780	432	19	columbia	columbia	PROPN
cblr-1780	432	20	business	business	NOUN
cblr-1780	432	21	law	law	NOUN
cblr-1780	432	22	review	review	NOUN
cblr-1780	432	23	[	[	X
cblr-1780	432	24	vol	vol	NOUN
cblr-1780	432	25	.	.	NOUN
cblr-1780	432	26	2014	2014	NUM
cblr-1780	432	27	shareholders	shareholder	NOUN
cblr-1780	432	28	in	in	ADP
cblr-1780	432	29	private	private	ADJ
cblr-1780	432	30	firms	firm	NOUN
cblr-1780	432	31	in	in	ADP
cblr-1780	432	32	the	the	DET
cblr-1780	432	33	absence	absence	NOUN
cblr-1780	432	34	of	of	ADP
cblr-1780	432	35	disclosure	disclosure	NOUN
cblr-1780	432	36	are	be	AUX
cblr-1780	432	37	equally	equally	ADV
cblr-1780	432	38	,	,	PUNCT
cblr-1780	432	39	if	if	SCONJ
cblr-1780	432	40	not	not	PART
cblr-1780	432	41	more	more	ADJ
cblr-1780	432	42	,	,	PUNCT
cblr-1780	432	43	unlikely	unlikely	ADJ
cblr-1780	432	44	to	to	PART
cblr-1780	432	45	have	have	VERB
cblr-1780	432	46	the	the	DET
cblr-1780	432	47	information	information	NOUN
cblr-1780	432	48	necessary	necessary	ADJ
cblr-1780	432	49	to	to	PART
cblr-1780	432	50	avoid	avoid	VERB
cblr-1780	432	51	investing	invest	VERB
cblr-1780	432	52	in	in	ADP
cblr-1780	432	53	businesses	business	NOUN
cblr-1780	432	54	whose	whose	DET
cblr-1780	432	55	activities	activity	NOUN
cblr-1780	432	56	they	they	PRON
cblr-1780	432	57	find	find	VERB
cblr-1780	432	58	objectionable	objectionable	ADJ
cblr-1780	432	59	.	.	PUNCT
cblr-1780	433	1	this	this	DET
cblr-1780	433	2	comparison	comparison	NOUN
cblr-1780	433	3	is	be	AUX
cblr-1780	433	4	important	important	ADJ
cblr-1780	433	5	because	because	SCONJ
cblr-1780	433	6	companies	company	NOUN
cblr-1780	433	7	have	have	VERB
cblr-1780	433	8	a	a	DET
cblr-1780	433	9	large	large	ADJ
cblr-1780	433	10	and	and	CCONJ
cblr-1780	433	11	growing	grow	VERB
cblr-1780	433	12	degree	degree	NOUN
cblr-1780	433	13	of	of	ADP
cblr-1780	433	14	control	control	NOUN
cblr-1780	433	15	over	over	ADP
cblr-1780	433	16	whether	whether	SCONJ
cblr-1780	433	17	to	to	PART
cblr-1780	433	18	become	become	VERB
cblr-1780	433	19	public.102	public.102	NOUN
cblr-1780	433	20	particularly	particularly	ADV
cblr-1780	433	21	after	after	ADP
cblr-1780	433	22	changes	change	NOUN
cblr-1780	433	23	enacted	enact	VERB
cblr-1780	433	24	as	as	ADP
cblr-1780	433	25	part	part	NOUN
cblr-1780	433	26	of	of	ADP
cblr-1780	433	27	the	the	DET
cblr-1780	433	28	jobs	job	NOUN
cblr-1780	433	29	act	act	NOUN
cblr-1780	433	30	of	of	ADP
cblr-1780	433	31	2012	2012	NUM
cblr-1780	433	32	,	,	PUNCT
cblr-1780	433	33	it	it	PRON
cblr-1780	433	34	is	be	AUX
cblr-1780	433	35	now	now	ADV
cblr-1780	433	36	quite	quite	ADV
cblr-1780	433	37	palatable	palatable	ADJ
cblr-1780	433	38	for	for	SCONJ
cblr-1780	433	39	even	even	ADV
cblr-1780	433	40	very	very	ADV
cblr-1780	433	41	large	large	ADJ
cblr-1780	433	42	firms	firm	NOUN
cblr-1780	433	43	to	to	PART
cblr-1780	433	44	remain	remain	VERB
cblr-1780	433	45	outside	outside	ADV
cblr-1780	433	46	of	of	ADP
cblr-1780	433	47	the	the	DET
cblr-1780	433	48	public	public	ADJ
cblr-1780	433	49	company	company	NOUN
cblr-1780	433	50	reporting	report	VERB
cblr-1780	433	51	regime.103	regime.103	NOUN
cblr-1780	433	52	to	to	ADP
cblr-1780	433	53	the	the	DET
cblr-1780	433	54	extent	extent	NOUN
cblr-1780	433	55	a	a	DET
cblr-1780	433	56	disclosure	disclosure	NOUN
cblr-1780	433	57	requirement	requirement	NOUN
cblr-1780	433	58	dollars	dollar	NOUN
cblr-1780	433	59	’	'	PUNCT
cblr-1780	433	60	worth	worth	NOUN
cblr-1780	433	61	of	of	ADP
cblr-1780	433	62	american	american	ADJ
cblr-1780	433	63	businesses	business	NOUN
cblr-1780	433	64	.	.	PUNCT
cblr-1780	433	65	”	"	PUNCT
cblr-1780	434	1	robert	robert	PROPN
cblr-1780	434	2	j.	j.	PROPN
cblr-1780	434	3	jackson	jackson	PROPN
cblr-1780	434	4	,	,	PUNCT
cblr-1780	434	5	jr	jr	PROPN
cblr-1780	434	6	.	.	PROPN
cblr-1780	434	7	,	,	PUNCT
cblr-1780	434	8	private	private	ADJ
cblr-1780	434	9	equity	equity	NOUN
cblr-1780	434	10	and	and	CCONJ
cblr-1780	434	11	executive	executive	NOUN
cblr-1780	434	12	compensation	compensation	NOUN
cblr-1780	434	13	,	,	PUNCT
cblr-1780	434	14	160	160	NUM
cblr-1780	434	15	ucla	ucla	PROPN
cblr-1780	434	16	l.	l.	PROPN
cblr-1780	434	17	rev	rev	PROPN
cblr-1780	434	18	.	.	PROPN
cblr-1780	434	19	638	638	NUM
cblr-1780	434	20	,	,	PUNCT
cblr-1780	434	21	642	642	NUM
cblr-1780	434	22	(	(	PUNCT
cblr-1780	434	23	2013	2013	NUM
cblr-1780	434	24	)	)	PUNCT
cblr-1780	434	25	.	.	PUNCT
cblr-1780	435	1	the	the	DET
cblr-1780	435	2	ultimate	ultimate	ADJ
cblr-1780	435	3	financial	financial	ADJ
cblr-1780	435	4	beneficiaries	beneficiary	NOUN
cblr-1780	435	5	of	of	ADP
cblr-1780	435	6	private	private	ADJ
cblr-1780	435	7	equity	equity	NOUN
cblr-1780	435	8	firms	firm	NOUN
cblr-1780	435	9	are	be	AUX
cblr-1780	435	10	quite	quite	ADV
cblr-1780	435	11	often	often	ADV
cblr-1780	435	12	the	the	DET
cblr-1780	435	13	same	same	ADJ
cblr-1780	435	14	investors	investor	NOUN
cblr-1780	435	15	,	,	PUNCT
cblr-1780	435	16	who	who	PRON
cblr-1780	435	17	,	,	PUNCT
cblr-1780	435	18	if	if	SCONJ
cblr-1780	435	19	they	they	PRON
cblr-1780	435	20	owned	own	VERB
cblr-1780	435	21	shares	share	NOUN
cblr-1780	435	22	directly	directly	ADV
cblr-1780	435	23	,	,	PUNCT
cblr-1780	435	24	might	might	AUX
cblr-1780	435	25	have	have	VERB
cblr-1780	435	26	the	the	DET
cblr-1780	435	27	types	type	NOUN
cblr-1780	435	28	of	of	ADP
cblr-1780	435	29	expressive	expressive	ADJ
cblr-1780	435	30	investor	investor	NOUN
cblr-1780	435	31	protection	protection	NOUN
cblr-1780	435	32	concerns	concern	VERB
cblr-1780	435	33	a	a	DET
cblr-1780	435	34	political	political	ADJ
cblr-1780	435	35	spending	spending	NOUN
cblr-1780	435	36	disclosure	disclosure	NOUN
cblr-1780	435	37	requirement	requirement	NOUN
cblr-1780	435	38	is	be	AUX
cblr-1780	435	39	designed	design	VERB
cblr-1780	435	40	to	to	PART
cblr-1780	435	41	address	address	VERB
cblr-1780	435	42	.	.	PUNCT
cblr-1780	436	1	investments	investment	NOUN
cblr-1780	436	2	in	in	ADP
cblr-1780	436	3	private	private	ADJ
cblr-1780	436	4	equity	equity	NOUN
cblr-1780	436	5	firms	firm	NOUN
cblr-1780	436	6	are	be	AUX
cblr-1780	436	7	“	"	PUNCT
cblr-1780	436	8	dominated	dominate	VERB
cblr-1780	436	9	by	by	ADP
cblr-1780	436	10	public	public	ADJ
cblr-1780	436	11	pension	pension	NOUN
cblr-1780	436	12	funds	fund	NOUN
cblr-1780	436	13	,	,	PUNCT
cblr-1780	436	14	with	with	ADP
cblr-1780	436	15	calpers	calpers	PROPN
cblr-1780	436	16	(	(	PUNCT
cblr-1780	436	17	california	california	PROPN
cblr-1780	436	18	public	public	ADJ
cblr-1780	436	19	employees	employee	NOUN
cblr-1780	436	20	’	’	PART
cblr-1780	436	21	retirement	retirement	NOUN
cblr-1780	436	22	system	system	NOUN
cblr-1780	436	23	)	)	PUNCT
cblr-1780	436	24	,	,	PUNCT
cblr-1780	436	25	calsters	calster	NOUN
cblr-1780	436	26	(	(	PUNCT
cblr-1780	436	27	california	california	PROPN
cblr-1780	436	28	state	state	PROPN
cblr-1780	436	29	teachers	teachers	PROPN
cblr-1780	436	30	’	’	PART
cblr-1780	436	31	retirement	retirement	NOUN
cblr-1780	436	32	system	system	NOUN
cblr-1780	436	33	)	)	PUNCT
cblr-1780	436	34	,	,	PUNCT
cblr-1780	436	35	psers	pser	NOUN
cblr-1780	436	36	(	(	PUNCT
cblr-1780	436	37	pennsylvania	pennsylvania	PROPN
cblr-1780	436	38	public	public	PROPN
cblr-1780	436	39	school	school	NOUN
cblr-1780	436	40	employees	employee	NOUN
cblr-1780	436	41	’	’	PART
cblr-1780	436	42	retirement	retirement	NOUN
cblr-1780	436	43	system	system	NOUN
cblr-1780	436	44	)	)	PUNCT
cblr-1780	436	45	,	,	PUNCT
cblr-1780	436	46	and	and	CCONJ
cblr-1780	436	47	the	the	DET
cblr-1780	436	48	washington	washington	PROPN
cblr-1780	436	49	state	state	PROPN
cblr-1780	436	50	investment	investment	PROPN
cblr-1780	436	51	board	board	NOUN
cblr-1780	436	52	occupying	occupy	VERB
cblr-1780	436	53	the	the	DET
cblr-1780	436	54	top	top	ADJ
cblr-1780	436	55	four	four	NUM
cblr-1780	436	56	slots	slot	NOUN
cblr-1780	436	57	.	.	PUNCT
cblr-1780	436	58	”	"	PUNCT
cblr-1780	437	1	steven	steven	PROPN
cblr-1780	437	2	n.	n.	PROPN
cblr-1780	437	3	kaplan	kaplan	PROPN
cblr-1780	437	4	&	&	CCONJ
cblr-1780	437	5	per	per	ADP
cblr-1780	437	6	strömberg	strömberg	NOUN
cblr-1780	437	7	,	,	PUNCT
cblr-1780	437	8	leveraged	leveraged	ADJ
cblr-1780	437	9	buyouts	buyout	NOUN
cblr-1780	437	10	and	and	CCONJ
cblr-1780	437	11	private	private	ADJ
cblr-1780	437	12	equity	equity	NOUN
cblr-1780	437	13	,	,	PUNCT
cblr-1780	437	14	23	23	NUM
cblr-1780	437	15	j.	j.	PROPN
cblr-1780	437	16	econ	econ	PROPN
cblr-1780	437	17	.	.	PUNCT
cblr-1780	438	1	persp	persp	PROPN
cblr-1780	438	2	.	.	PUNCT
cblr-1780	439	1	121	121	NUM
cblr-1780	439	2	,	,	PUNCT
cblr-1780	439	3	124	124	NUM
cblr-1780	439	4	(	(	PUNCT
cblr-1780	439	5	2009	2009	NUM
cblr-1780	439	6	)	)	PUNCT
cblr-1780	439	7	.	.	PUNCT
cblr-1780	440	1	the	the	DET
cblr-1780	440	2	beneficiaries	beneficiary	NOUN
cblr-1780	440	3	of	of	ADP
cblr-1780	440	4	these	these	DET
cblr-1780	440	5	institutional	institutional	ADJ
cblr-1780	440	6	investors	investor	NOUN
cblr-1780	440	7	are	be	AUX
cblr-1780	440	8	those	those	PRON
cblr-1780	440	9	who	who	PRON
cblr-1780	440	10	have	have	VERB
cblr-1780	440	11	a	a	DET
cblr-1780	440	12	stake	stake	NOUN
cblr-1780	440	13	in	in	ADP
cblr-1780	440	14	the	the	DET
cblr-1780	440	15	financial	financial	ADJ
cblr-1780	440	16	health	health	NOUN
cblr-1780	440	17	of	of	ADP
cblr-1780	440	18	public	public	ADJ
cblr-1780	440	19	pension	pension	NOUN
cblr-1780	440	20	funds	fund	NOUN
cblr-1780	440	21	.	.	PUNCT
cblr-1780	441	1	anne	anne	PROPN
cblr-1780	441	2	tucker	tucker	PROPN
cblr-1780	441	3	,	,	PUNCT
cblr-1780	441	4	retirement	retirement	NOUN
cblr-1780	441	5	revolution	revolution	NOUN
cblr-1780	441	6	:	:	PUNCT
cblr-1780	441	7	unmitigated	unmitigated	ADJ
cblr-1780	441	8	risks	risk	NOUN
cblr-1780	441	9	in	in	ADP
cblr-1780	441	10	the	the	DET
cblr-1780	441	11	defined	define	VERB
cblr-1780	441	12	contribution	contribution	NOUN
cblr-1780	441	13	society	society	NOUN
cblr-1780	441	14	,	,	PUNCT
cblr-1780	441	15	51	51	NUM
cblr-1780	441	16	hous	hous	ADJ
cblr-1780	441	17	.	.	PUNCT
cblr-1780	442	1	l.	l.	PROPN
cblr-1780	442	2	rev	rev	PROPN
cblr-1780	442	3	.	.	PROPN
cblr-1780	442	4	153	153	NUM
cblr-1780	442	5	,	,	PUNCT
cblr-1780	442	6	153–54	153–54	NUM
cblr-1780	442	7	(	(	PUNCT
cblr-1780	442	8	2013	2013	NUM
cblr-1780	442	9	)	)	PUNCT
cblr-1780	442	10	.	.	PUNCT
cblr-1780	443	1	it	it	PRON
cblr-1780	443	2	is	be	AUX
cblr-1780	443	3	true	true	ADJ
cblr-1780	443	4	that	that	SCONJ
cblr-1780	443	5	,	,	PUNCT
cblr-1780	443	6	even	even	ADV
cblr-1780	443	7	if	if	SCONJ
cblr-1780	443	8	nonpublic	nonpublic	ADJ
cblr-1780	443	9	firms	firm	NOUN
cblr-1780	443	10	have	have	VERB
cblr-1780	443	11	access	access	NOUN
cblr-1780	443	12	to	to	ADP
cblr-1780	443	13	political	political	ADJ
cblr-1780	443	14	spending	spending	NOUN
cblr-1780	443	15	information	information	NOUN
cblr-1780	443	16	,	,	PUNCT
cblr-1780	443	17	indirect	indirect	ADJ
cblr-1780	443	18	investors	investor	NOUN
cblr-1780	443	19	might	might	AUX
cblr-1780	443	20	not	not	PART
cblr-1780	443	21	be	be	AUX
cblr-1780	443	22	able	able	ADJ
cblr-1780	443	23	to	to	PART
cblr-1780	443	24	use	use	VERB
cblr-1780	443	25	the	the	DET
cblr-1780	443	26	traditional	traditional	ADJ
cblr-1780	443	27	tools	tool	NOUN
cblr-1780	443	28	of	of	ADP
cblr-1780	443	29	corporate	corporate	ADJ
cblr-1780	443	30	governance	governance	NOUN
cblr-1780	443	31	to	to	PART
cblr-1780	443	32	affect	affect	VERB
cblr-1780	443	33	undesirable	undesirable	ADJ
cblr-1780	443	34	corporate	corporate	ADJ
cblr-1780	443	35	behavior	behavior	NOUN
cblr-1780	443	36	.	.	PUNCT
cblr-1780	444	1	on	on	ADP
cblr-1780	444	2	the	the	DET
cblr-1780	444	3	other	other	ADJ
cblr-1780	444	4	hand	hand	NOUN
cblr-1780	444	5	,	,	PUNCT
cblr-1780	444	6	the	the	DET
cblr-1780	444	7	presence	presence	NOUN
cblr-1780	444	8	of	of	ADP
cblr-1780	444	9	intermediary	intermediary	ADJ
cblr-1780	444	10	owners	owner	NOUN
cblr-1780	444	11	may	may	AUX
cblr-1780	444	12	,	,	PUNCT
cblr-1780	444	13	at	at	ADP
cblr-1780	444	14	least	least	ADJ
cblr-1780	444	15	in	in	ADP
cblr-1780	444	16	some	some	DET
cblr-1780	444	17	circumstance	circumstance	NOUN
cblr-1780	444	18	,	,	PUNCT
cblr-1780	444	19	help	help	AUX
cblr-1780	444	20	overcome	overcome	VERB
cblr-1780	444	21	collective	collective	ADJ
cblr-1780	444	22	action	action	NOUN
cblr-1780	444	23	problems	problem	NOUN
cblr-1780	444	24	and	and	CCONJ
cblr-1780	444	25	facilitate	facilitate	VERB
cblr-1780	444	26	the	the	DET
cblr-1780	444	27	ability	ability	NOUN
cblr-1780	444	28	of	of	ADP
cblr-1780	444	29	the	the	DET
cblr-1780	444	30	ultimate	ultimate	ADJ
cblr-1780	444	31	owners	owner	NOUN
cblr-1780	444	32	to	to	PART
cblr-1780	444	33	address	address	VERB
cblr-1780	444	34	their	their	PRON
cblr-1780	444	35	expressive	expressive	ADJ
cblr-1780	444	36	concerns	concern	NOUN
cblr-1780	444	37	.	.	PUNCT
cblr-1780	445	1	102	102	NUM
cblr-1780	445	2	as	as	ADP
cblr-1780	445	3	but	but	CCONJ
cblr-1780	445	4	one	one	NUM
cblr-1780	445	5	example	example	NOUN
cblr-1780	445	6	of	of	ADP
cblr-1780	445	7	a	a	DET
cblr-1780	445	8	firm	firm	NOUN
cblr-1780	445	9	choosing	choose	VERB
cblr-1780	445	10	to	to	PART
cblr-1780	445	11	remain	remain	VERB
cblr-1780	445	12	private	private	ADJ
cblr-1780	445	13	when	when	SCONJ
cblr-1780	445	14	,	,	PUNCT
cblr-1780	445	15	in	in	ADP
cblr-1780	445	16	the	the	DET
cblr-1780	445	17	past	past	NOUN
cblr-1780	445	18	,	,	PUNCT
cblr-1780	445	19	it	it	PRON
cblr-1780	445	20	might	might	AUX
cblr-1780	445	21	have	have	AUX
cblr-1780	445	22	gone	go	VERB
cblr-1780	445	23	public	public	ADJ
cblr-1780	445	24	,	,	PUNCT
cblr-1780	445	25	see	see	VERB
cblr-1780	445	26	michael	michael	PROPN
cblr-1780	445	27	j.	j.	PROPN
cblr-1780	445	28	de	de	PROPN
cblr-1780	445	29	la	la	PROPN
cblr-1780	445	30	merced	merced	PROPN
cblr-1780	445	31	,	,	PUNCT
cblr-1780	445	32	surveymonkey	surveymonkey	PROPN
cblr-1780	445	33	raises	raise	VERB
cblr-1780	445	34	nearly	nearly	ADV
cblr-1780	445	35	$	$	SYM
cblr-1780	445	36	800	800	NUM
cblr-1780	445	37	million	million	NUM
cblr-1780	445	38	while	while	SCONJ
cblr-1780	445	39	staying	stay	VERB
cblr-1780	445	40	private	private	ADJ
cblr-1780	445	41	,	,	PUNCT
cblr-1780	445	42	n.y	n.y	PROPN
cblr-1780	445	43	.	.	PROPN
cblr-1780	445	44	times	times	PROPN
cblr-1780	445	45	dealbook	dealbook	PROPN
cblr-1780	445	46	(	(	PUNCT
cblr-1780	445	47	jan	jan	PROPN
cblr-1780	445	48	.	.	PROPN
cblr-1780	445	49	17	17	NUM
cblr-1780	445	50	,	,	PUNCT
cblr-1780	445	51	2013	2013	NUM
cblr-1780	445	52	,	,	PUNCT
cblr-1780	445	53	11:43	11:43	NUM
cblr-1780	445	54	am	am	NOUN
cblr-1780	445	55	)	)	PUNCT
cblr-1780	445	56	,	,	PUNCT
cblr-1780	445	57	http://perma.cc/bus6-8ggu	http://perma.cc/bus6-8ggu	NOUN
cblr-1780	445	58	.	.	PUNCT
cblr-1780	446	1	103	103	NUM
cblr-1780	446	2	several	several	ADJ
cblr-1780	446	3	aspects	aspect	NOUN
cblr-1780	446	4	of	of	ADP
cblr-1780	446	5	the	the	DET
cblr-1780	446	6	jobs	job	NOUN
cblr-1780	446	7	act	act	VERB
cblr-1780	446	8	made	make	VERB
cblr-1780	446	9	staying	stay	VERB
cblr-1780	446	10	private	private	ADJ
cblr-1780	446	11	easier	easy	ADJ
cblr-1780	446	12	and	and	CCONJ
cblr-1780	446	13	more	more	ADV
cblr-1780	446	14	palatable	palatable	ADJ
cblr-1780	446	15	.	.	PUNCT
cblr-1780	447	1	first	first	ADV
cblr-1780	447	2	,	,	PUNCT
cblr-1780	447	3	the	the	DET
cblr-1780	447	4	jobs	job	NOUN
cblr-1780	447	5	act	act	AUX
cblr-1780	447	6	substantially	substantially	ADV
cblr-1780	447	7	increased	increase	VERB
cblr-1780	447	8	the	the	DET
cblr-1780	447	9	threshold	threshold	NOUN
cblr-1780	447	10	level	level	NOUN
cblr-1780	447	11	of	of	ADP
cblr-1780	447	12	shareholders	shareholder	NOUN
cblr-1780	447	13	of	of	ADP
cblr-1780	447	14	record	record	NOUN
cblr-1780	447	15	that	that	PRON
cblr-1780	447	16	trigger	trigger	VERB
cblr-1780	447	17	mandatory	mandatory	ADJ
cblr-1780	447	18	compliance	compliance	NOUN
cblr-1780	447	19	with	with	ADP
cblr-1780	447	20	federal	federal	ADJ
cblr-1780	447	21	periodic	periodic	ADJ
cblr-1780	447	22	disclosure	disclosure	NOUN
cblr-1780	447	23	requirements	requirement	NOUN
cblr-1780	447	24	,	,	PUNCT
cblr-1780	447	25	guttentag	guttentag	NOUN
cblr-1780	447	26	,	,	PUNCT
cblr-1780	447	27	patching	patch	VERB
cblr-1780	447	28	a	a	DET
cblr-1780	447	29	hole	hole	NOUN
cblr-1780	447	30	,	,	PUNCT
cblr-1780	447	31	supra	supra	PROPN
cblr-1780	447	32	note	note	PROPN
cblr-1780	447	33	100	100	NUM
cblr-1780	447	34	,	,	PUNCT
cblr-1780	447	35	at	at	ADP
cblr-1780	447	36	153	153	NUM
cblr-1780	447	37	.	.	PUNCT
cblr-1780	448	1	a	a	DET
cblr-1780	448	2	second	second	ADJ
cblr-1780	448	3	way	way	NOUN
cblr-1780	448	4	in	in	ADP
cblr-1780	448	5	which	which	PRON
cblr-1780	448	6	the	the	DET
cblr-1780	448	7	jobs	job	NOUN
cblr-1780	448	8	act	act	NOUN
cblr-1780	448	9	has	have	AUX
cblr-1780	448	10	reduced	reduce	VERB
cblr-1780	448	11	the	the	DET
cblr-1780	448	12	incentives	incentive	NOUN
cblr-1780	448	13	for	for	SCONJ
cblr-1780	448	14	firms	firm	NOUN
cblr-1780	448	15	to	to	PART
cblr-1780	448	16	comply	comply	VERB
cblr-1780	448	17	with	with	ADP
cblr-1780	448	18	federal	federal	ADJ
cblr-1780	448	19	public	public	ADJ
cblr-1780	448	20	reporting	reporting	NOUN
cblr-1780	448	21	disclosure	disclosure	NOUN
cblr-1780	448	22	obligations	obligation	NOUN
cblr-1780	448	23	is	be	AUX
cblr-1780	448	24	by	by	ADP
cblr-1780	448	25	making	make	VERB
cblr-1780	448	26	it	it	PRON
cblr-1780	448	27	easier	easy	ADJ
cblr-1780	448	28	for	for	SCONJ
cblr-1780	448	29	firms	firm	NOUN
cblr-1780	448	30	to	to	PART
cblr-1780	448	31	raise	raise	VERB
cblr-1780	448	32	funds	fund	NOUN
cblr-1780	448	33	privately	privately	ADV
cblr-1780	448	34	.	.	PUNCT
cblr-1780	449	1	title	title	NOUN
cblr-1780	449	2	ii	ii	PROPN
cblr-1780	449	3	guttentag	guttentag	NOUN
cblr-1780	449	4	–	–	PUNCT
cblr-1780	449	5	final	final	ADJ
cblr-1780	449	6	no	no	NOUN
cblr-1780	449	7	.	.	PUNCT
cblr-1780	450	1	3:593	3:593	NUM
cblr-1780	450	2	]	]	PUNCT
cblr-1780	450	3	on	on	ADP
cblr-1780	450	4	political	political	ADJ
cblr-1780	450	5	spending	spending	NOUN
cblr-1780	450	6	disclosure	disclosure	NOUN
cblr-1780	450	7	625	625	NUM
cblr-1780	450	8	is	be	AUX
cblr-1780	450	9	especially	especially	ADV
cblr-1780	450	10	burdensome	burdensome	ADJ
cblr-1780	450	11	for	for	ADP
cblr-1780	450	12	companies	company	NOUN
cblr-1780	450	13	involved	involve	VERB
cblr-1780	450	14	in	in	ADP
cblr-1780	450	15	business	business	NOUN
cblr-1780	450	16	that	that	PRON
cblr-1780	450	17	touch	touch	VERB
cblr-1780	450	18	on	on	ADP
cblr-1780	450	19	expressive	expressive	ADJ
cblr-1780	450	20	concerns	concern	NOUN
cblr-1780	450	21	,	,	PUNCT
cblr-1780	450	22	and	and	CCONJ
cblr-1780	450	23	that	that	DET
cblr-1780	450	24	disclosure	disclosure	NOUN
cblr-1780	450	25	requirement	requirement	NOUN
cblr-1780	450	26	is	be	AUX
cblr-1780	450	27	only	only	ADV
cblr-1780	450	28	imposed	impose	VERB
cblr-1780	450	29	on	on	ADP
cblr-1780	450	30	public	public	ADJ
cblr-1780	450	31	companies	company	NOUN
cblr-1780	450	32	,	,	PUNCT
cblr-1780	450	33	the	the	DET
cblr-1780	450	34	economic	economic	ADJ
cblr-1780	450	35	effect	effect	NOUN
cblr-1780	450	36	of	of	ADP
cblr-1780	450	37	imposing	impose	VERB
cblr-1780	450	38	a	a	DET
cblr-1780	450	39	public	public	ADJ
cblr-1780	450	40	company	company	NOUN
cblr-1780	450	41	disclosure	disclosure	NOUN
cblr-1780	450	42	requirement	requirement	NOUN
cblr-1780	450	43	may	may	AUX
cblr-1780	450	44	simply	simply	ADV
cblr-1780	450	45	be	be	AUX
cblr-1780	450	46	to	to	PART
cblr-1780	450	47	create	create	VERB
cblr-1780	450	48	a	a	DET
cblr-1780	450	49	subsidy	subsidy	NOUN
cblr-1780	450	50	that	that	PRON
cblr-1780	450	51	rewards	reward	VERB
cblr-1780	450	52	firms	firm	NOUN
cblr-1780	450	53	in	in	ADP
cblr-1780	450	54	the	the	DET
cblr-1780	450	55	affected	affected	ADJ
cblr-1780	450	56	industry	industry	NOUN
cblr-1780	450	57	that	that	PRON
cblr-1780	450	58	avoid	avoid	VERB
cblr-1780	450	59	or	or	CCONJ
cblr-1780	450	60	exit	exit	VERB
cblr-1780	450	61	the	the	DET
cblr-1780	450	62	public	public	ADJ
cblr-1780	450	63	disclosure	disclosure	NOUN
cblr-1780	450	64	regime.104	regime.104	VERB
cblr-1780	450	65	the	the	DET
cblr-1780	450	66	ownership	ownership	NOUN
cblr-1780	450	67	of	of	ADP
cblr-1780	450	68	firearm	firearm	NOUN
cblr-1780	450	69	manufacturers	manufacturer	NOUN
cblr-1780	450	70	in	in	ADP
cblr-1780	450	71	the	the	DET
cblr-1780	450	72	united	united	PROPN
cblr-1780	450	73	states	states	PROPN
cblr-1780	450	74	illustrates	illustrate	VERB
cblr-1780	450	75	that	that	SCONJ
cblr-1780	450	76	the	the	DET
cblr-1780	450	77	consequences	consequence	NOUN
cblr-1780	450	78	of	of	ADP
cblr-1780	450	79	the	the	DET
cblr-1780	450	80	mismatch	mismatch	NOUN
cblr-1780	450	81	between	between	ADP
cblr-1780	450	82	whether	whether	SCONJ
cblr-1780	450	83	a	a	DET
cblr-1780	450	84	firm	firm	NOUN
cblr-1780	450	85	is	be	AUX
cblr-1780	450	86	public	public	ADJ
cblr-1780	450	87	and	and	CCONJ
cblr-1780	450	88	the	the	DET
cblr-1780	450	89	expressive	expressive	ADJ
cblr-1780	450	90	concerns	concern	NOUN
cblr-1780	450	91	of	of	ADP
cblr-1780	450	92	a	a	DET
cblr-1780	450	93	firm	firm	NOUN
cblr-1780	450	94	’s	’s	PART
cblr-1780	450	95	ultimate	ultimate	ADJ
cblr-1780	450	96	owners	owner	NOUN
cblr-1780	450	97	is	be	AUX
cblr-1780	450	98	not	not	PART
cblr-1780	450	99	simply	simply	ADV
cblr-1780	450	100	a	a	DET
cblr-1780	450	101	matter	matter	NOUN
cblr-1780	450	102	of	of	ADP
cblr-1780	450	103	theoretical	theoretical	ADJ
cblr-1780	450	104	curiosity	curiosity	NOUN
cblr-1780	450	105	.	.	PUNCT
cblr-1780	451	1	the	the	DET
cblr-1780	451	2	largest	large	ADJ
cblr-1780	451	3	firms	firm	NOUN
cblr-1780	451	4	engaged	engage	VERB
cblr-1780	451	5	in	in	ADP
cblr-1780	451	6	the	the	DET
cblr-1780	451	7	manufacture	manufacture	NOUN
cblr-1780	451	8	of	of	ADP
cblr-1780	451	9	firearms	firearm	NOUN
cblr-1780	451	10	in	in	ADP
cblr-1780	451	11	the	the	DET
cblr-1780	451	12	united	united	PROPN
cblr-1780	451	13	states	states	PROPN
cblr-1780	451	14	offer	offer	VERB
cblr-1780	451	15	investors	investor	NOUN
cblr-1780	451	16	two	two	NUM
cblr-1780	451	17	very	very	ADV
cblr-1780	451	18	different	different	ADJ
cblr-1780	451	19	ways	way	NOUN
cblr-1780	451	20	in	in	ADP
cblr-1780	451	21	which	which	PRON
cblr-1780	451	22	to	to	PART
cblr-1780	451	23	address	address	VERB
cblr-1780	451	24	expressive	expressive	ADJ
cblr-1780	451	25	investor	investor	NOUN
cblr-1780	451	26	protection	protection	NOUN
cblr-1780	451	27	concerns	concern	NOUN
cblr-1780	451	28	.	.	PUNCT
cblr-1780	452	1	on	on	ADP
cblr-1780	452	2	the	the	DET
cblr-1780	452	3	one	one	NUM
cblr-1780	452	4	hand	hand	NOUN
cblr-1780	452	5	,	,	PUNCT
cblr-1780	452	6	some	some	DET
cblr-1780	452	7	firms	firm	NOUN
cblr-1780	452	8	engaged	engage	VERB
cblr-1780	452	9	in	in	ADP
cblr-1780	452	10	the	the	DET
cblr-1780	452	11	manufacture	manufacture	NOUN
cblr-1780	452	12	of	of	ADP
cblr-1780	452	13	firearms	firearm	NOUN
cblr-1780	452	14	,	,	PUNCT
cblr-1780	452	15	including	include	VERB
cblr-1780	452	16	smith	smith	PROPN
cblr-1780	452	17	&	&	CCONJ
cblr-1780	452	18	wesson	wesson	PROPN
cblr-1780	452	19	and	and	CCONJ
cblr-1780	452	20	sturm	sturm	PROPN
cblr-1780	452	21	,	,	PUNCT
cblr-1780	452	22	ruger	ruger	NOUN
cblr-1780	452	23	&	&	CCONJ
cblr-1780	452	24	company	company	NOUN
cblr-1780	452	25	,	,	PUNCT
cblr-1780	452	26	are	be	AUX
cblr-1780	452	27	public	public	ADJ
cblr-1780	452	28	companies	company	NOUN
cblr-1780	452	29	.	.	PUNCT
cblr-1780	453	1	investors	investor	NOUN
cblr-1780	453	2	can	can	AUX
cblr-1780	453	3	relatively	relatively	ADV
cblr-1780	453	4	easily	easily	ADV
cblr-1780	453	5	avoid	avoid	VERB
cblr-1780	453	6	investing	invest	VERB
cblr-1780	453	7	in	in	ADP
cblr-1780	453	8	these	these	DET
cblr-1780	453	9	firms	firm	NOUN
cblr-1780	453	10	’	'	PUNCT
cblr-1780	453	11	securities	security	NOUN
cblr-1780	453	12	because	because	SCONJ
cblr-1780	453	13	of	of	ADP
cblr-1780	453	14	their	their	PRON
cblr-1780	453	15	expressive	expressive	ADJ
cblr-1780	453	16	concerns	concern	NOUN
cblr-1780	453	17	,	,	PUNCT
cblr-1780	453	18	if	if	SCONJ
cblr-1780	453	19	they	they	PRON
cblr-1780	453	20	so	so	ADV
cblr-1780	453	21	choose.105	choose.105	VERB
cblr-1780	453	22	another	another	DET
cblr-1780	453	23	major	major	ADJ
cblr-1780	453	24	manufacturer	manufacturer	NOUN
cblr-1780	453	25	of	of	ADP
cblr-1780	453	26	firearms	firearm	NOUN
cblr-1780	453	27	in	in	ADP
cblr-1780	453	28	the	the	DET
cblr-1780	453	29	united	united	PROPN
cblr-1780	453	30	states	states	PROPN
cblr-1780	453	31	,	,	PUNCT
cblr-1780	453	32	the	the	DET
cblr-1780	453	33	freedom	freedom	NOUN
cblr-1780	453	34	group	group	NOUN
cblr-1780	453	35	,	,	PUNCT
cblr-1780	453	36	is	be	AUX
cblr-1780	453	37	not	not	PART
cblr-1780	453	38	a	a	DET
cblr-1780	453	39	public	public	ADJ
cblr-1780	453	40	company	company	NOUN
cblr-1780	453	41	,	,	PUNCT
cblr-1780	453	42	but	but	CCONJ
cblr-1780	453	43	is	be	AUX
cblr-1780	453	44	owned	own	VERB
cblr-1780	453	45	by	by	ADP
cblr-1780	453	46	a	a	DET
cblr-1780	453	47	private	private	ADJ
cblr-1780	453	48	equity	equity	NOUN
cblr-1780	453	49	firm	firm	NOUN
cblr-1780	453	50	,	,	PUNCT
cblr-1780	453	51	cerberus	cerberus	PROPN
cblr-1780	453	52	capital	capital	NOUN
cblr-1780	453	53	of	of	ADP
cblr-1780	453	54	the	the	DET
cblr-1780	453	55	jobs	job	NOUN
cblr-1780	453	56	act	act	NOUN
cblr-1780	453	57	required	require	VERB
cblr-1780	453	58	the	the	DET
cblr-1780	453	59	sec	sec	PROPN
cblr-1780	453	60	to	to	PART
cblr-1780	453	61	remove	remove	VERB
cblr-1780	453	62	the	the	DET
cblr-1780	453	63	“	"	PUNCT
cblr-1780	453	64	prohibition	prohibition	NOUN
cblr-1780	453	65	against	against	ADP
cblr-1780	453	66	general	general	ADJ
cblr-1780	453	67	solicitation	solicitation	NOUN
cblr-1780	453	68	or	or	CCONJ
cblr-1780	453	69	general	general	ADJ
cblr-1780	453	70	advertising	advertising	NOUN
cblr-1780	453	71	”	"	PUNCT
cblr-1780	453	72	when	when	SCONJ
cblr-1780	453	73	firms	firm	NOUN
cblr-1780	453	74	raise	raise	VERB
cblr-1780	453	75	funds	fund	NOUN
cblr-1780	453	76	pursuant	pursuant	ADJ
cblr-1780	453	77	to	to	PART
cblr-1780	453	78	rule	rule	VERB
cblr-1780	453	79	506	506	NUM
cblr-1780	453	80	of	of	ADP
cblr-1780	453	81	regulation	regulation	NOUN
cblr-1780	453	82	d	d	NOUN
cblr-1780	453	83	,	,	PUNCT
cblr-1780	453	84	so	so	ADV
cblr-1780	453	85	long	long	ADV
cblr-1780	453	86	as	as	SCONJ
cblr-1780	453	87	only	only	ADV
cblr-1780	453	88	accredited	accredit	VERB
cblr-1780	453	89	investors	investor	NOUN
cblr-1780	453	90	purchase	purchase	VERB
cblr-1780	453	91	the	the	DET
cblr-1780	453	92	securities	security	NOUN
cblr-1780	453	93	offered	offer	VERB
cblr-1780	453	94	.	.	PUNCT
cblr-1780	454	1	jumpstart	jumpstart	VERB
cblr-1780	454	2	our	our	PRON
cblr-1780	454	3	business	business	NOUN
cblr-1780	454	4	startups	startup	NOUN
cblr-1780	454	5	act	act	NOUN
cblr-1780	454	6	,	,	PUNCT
cblr-1780	454	7	2	2	NUM
cblr-1780	454	8	pub	pub	NOUN
cblr-1780	454	9	.	.	PUNCT
cblr-1780	455	1	l.	l.	PROPN
cblr-1780	455	2	no	no	INTJ
cblr-1780	455	3	.	.	PROPN
cblr-1780	456	1	112	112	NUM
cblr-1780	456	2	-	-	SYM
cblr-1780	456	3	106	106	NUM
cblr-1780	456	4	,	,	PUNCT
cblr-1780	456	5	§	§	PROPN
cblr-1780	456	6	201(a)(1	201(a)(1	NUM
cblr-1780	456	7	)	)	PUNCT
cblr-1780	456	8	,	,	PUNCT
cblr-1780	456	9	126	126	NUM
cblr-1780	456	10	stat	stat	NOUN
cblr-1780	456	11	.	.	PUNCT
cblr-1780	457	1	306	306	NUM
cblr-1780	457	2	,	,	PUNCT
cblr-1780	457	3	313–314	313–314	NUM
cblr-1780	457	4	(	(	PUNCT
cblr-1780	457	5	2012	2012	NUM
cblr-1780	457	6	)	)	PUNCT
cblr-1780	457	7	.	.	PUNCT
cblr-1780	458	1	the	the	DET
cblr-1780	458	2	rules	rule	NOUN
cblr-1780	458	3	implementing	implement	VERB
cblr-1780	458	4	this	this	DET
cblr-1780	458	5	section	section	NOUN
cblr-1780	458	6	of	of	ADP
cblr-1780	458	7	the	the	DET
cblr-1780	458	8	jobs	job	NOUN
cblr-1780	458	9	act	act	NOUN
cblr-1780	458	10	took	take	VERB
cblr-1780	458	11	effect	effect	NOUN
cblr-1780	458	12	on	on	ADP
cblr-1780	458	13	september	september	PROPN
cblr-1780	458	14	23	23	NUM
cblr-1780	458	15	,	,	PUNCT
cblr-1780	458	16	2013	2013	NUM
cblr-1780	458	17	.	.	PUNCT
cblr-1780	459	1	see	see	VERB
cblr-1780	459	2	press	press	NOUN
cblr-1780	459	3	release	release	NOUN
cblr-1780	459	4	,	,	PUNCT
cblr-1780	459	5	u.s	u.s	PROPN
cblr-1780	459	6	.	.	PROPN
cblr-1780	459	7	sec	sec	PROPN
cblr-1780	459	8	.	.	PROPN
cblr-1780	459	9	&	&	CCONJ
cblr-1780	459	10	exch	exch	PROPN
cblr-1780	459	11	.	.	PUNCT
cblr-1780	460	1	comm’n	comm’n	PROPN
cblr-1780	460	2	,	,	PUNCT
cblr-1780	460	3	sec	sec	PROPN
cblr-1780	460	4	approves	approve	VERB
cblr-1780	460	5	jobs	job	NOUN
cblr-1780	460	6	act	act	PROPN
cblr-1780	460	7	requirement	requirement	NOUN
cblr-1780	460	8	to	to	PART
cblr-1780	460	9	lift	lift	VERB
cblr-1780	460	10	general	general	ADJ
cblr-1780	460	11	solicitation	solicitation	NOUN
cblr-1780	460	12	ban	ban	NOUN
cblr-1780	460	13	(	(	PUNCT
cblr-1780	460	14	july	july	PROPN
cblr-1780	460	15	10	10	NUM
cblr-1780	460	16	,	,	PUNCT
cblr-1780	460	17	2013	2013	NUM
cblr-1780	460	18	)	)	PUNCT
cblr-1780	460	19	,	,	PUNCT
cblr-1780	460	20	http://perma.cc/vh6e-n2bb	http://perma.cc/vh6e-n2bb	PROPN
cblr-1780	460	21	.	.	PUNCT
cblr-1780	461	1	for	for	ADP
cblr-1780	461	2	a	a	DET
cblr-1780	461	3	discussion	discussion	NOUN
cblr-1780	461	4	of	of	ADP
cblr-1780	461	5	the	the	DET
cblr-1780	461	6	legislative	legislative	ADJ
cblr-1780	461	7	history	history	NOUN
cblr-1780	461	8	surrounding	surround	VERB
cblr-1780	461	9	the	the	DET
cblr-1780	461	10	adoption	adoption	NOUN
cblr-1780	461	11	of	of	ADP
cblr-1780	461	12	this	this	DET
cblr-1780	461	13	section	section	NOUN
cblr-1780	461	14	of	of	ADP
cblr-1780	461	15	the	the	DET
cblr-1780	461	16	jobs	job	NOUN
cblr-1780	461	17	act	act	PROPN
cblr-1780	461	18	,	,	PUNCT
cblr-1780	461	19	see	see	VERB
cblr-1780	461	20	guttentag	guttentag	NOUN
cblr-1780	461	21	,	,	PUNCT
cblr-1780	461	22	investor	investor	NOUN
cblr-1780	461	23	protection	protection	NOUN
cblr-1780	461	24	,	,	PUNCT
cblr-1780	461	25	supra	supra	PROPN
cblr-1780	461	26	note	note	PROPN
cblr-1780	461	27	11	11	NUM
cblr-1780	461	28	,	,	PUNCT
cblr-1780	461	29	at	at	ADP
cblr-1780	461	30	245–47	245–47	NUM
cblr-1780	461	31	.	.	NOUN
cblr-1780	462	1	for	for	ADP
cblr-1780	462	2	a	a	DET
cblr-1780	462	3	discussion	discussion	NOUN
cblr-1780	462	4	of	of	ADP
cblr-1780	462	5	the	the	DET
cblr-1780	462	6	use	use	NOUN
cblr-1780	462	7	of	of	ADP
cblr-1780	462	8	private	private	ADJ
cblr-1780	462	9	markets	market	NOUN
cblr-1780	462	10	to	to	PART
cblr-1780	462	11	trade	trade	NOUN
cblr-1780	462	12	securities	security	NOUN
cblr-1780	462	13	,	,	PUNCT
cblr-1780	462	14	see	see	VERB
cblr-1780	462	15	elizabeth	elizabeth	PROPN
cblr-1780	462	16	pollman	pollman	PROPN
cblr-1780	462	17	,	,	PUNCT
cblr-1780	462	18	information	information	NOUN
cblr-1780	462	19	issues	issue	NOUN
cblr-1780	462	20	on	on	ADP
cblr-1780	462	21	wall	wall	PROPN
cblr-1780	462	22	street	street	PROPN
cblr-1780	462	23	2.0	2.0	NUM
cblr-1780	462	24	,	,	PUNCT
cblr-1780	462	25	161	161	NUM
cblr-1780	462	26	u.	u.	NOUN
cblr-1780	462	27	pa	pa	PROPN
cblr-1780	462	28	.	.	PUNCT
cblr-1780	462	29	l.	l.	PROPN
cblr-1780	462	30	rev	rev	PROPN
cblr-1780	462	31	.	.	PROPN
cblr-1780	462	32	179	179	NUM
cblr-1780	462	33	,	,	PUNCT
cblr-1780	462	34	179	179	NUM
cblr-1780	462	35	(	(	PUNCT
cblr-1780	462	36	2012	2012	NUM
cblr-1780	462	37	)	)	PUNCT
cblr-1780	462	38	.	.	PUNCT
cblr-1780	463	1	104	104	NUM
cblr-1780	463	2	see	see	VERB
cblr-1780	463	3	angel	angel	NOUN
cblr-1780	463	4	letter	letter	NOUN
cblr-1780	463	5	,	,	PUNCT
cblr-1780	463	6	supra	supra	PROPN
cblr-1780	463	7	note	note	PROPN
cblr-1780	463	8	28	28	NUM
cblr-1780	463	9	,	,	PUNCT
cblr-1780	463	10	at	at	ADP
cblr-1780	463	11	1–4	1–4	PROPN
cblr-1780	463	12	.	.	PROPN
cblr-1780	464	1	105	105	NUM
cblr-1780	464	2	there	there	PRON
cblr-1780	464	3	are	be	VERB
cblr-1780	464	4	,	,	PUNCT
cblr-1780	464	5	for	for	ADP
cblr-1780	464	6	example	example	NOUN
cblr-1780	464	7	,	,	PUNCT
cblr-1780	464	8	specialized	specialized	ADJ
cblr-1780	464	9	funds	fund	NOUN
cblr-1780	464	10	,	,	PUNCT
cblr-1780	464	11	which	which	PRON
cblr-1780	464	12	commit	commit	VERB
cblr-1780	464	13	not	not	PART
cblr-1780	464	14	to	to	PART
cblr-1780	464	15	hold	hold	VERB
cblr-1780	464	16	any	any	DET
cblr-1780	464	17	securities	security	NOUN
cblr-1780	464	18	issued	issue	VERB
cblr-1780	464	19	by	by	ADP
cblr-1780	464	20	a	a	DET
cblr-1780	464	21	firm	firm	NOUN
cblr-1780	464	22	that	that	PRON
cblr-1780	464	23	manufactures	manufacture	VERB
cblr-1780	464	24	firearms	firearm	NOUN
cblr-1780	464	25	.	.	PUNCT
cblr-1780	465	1	jeff	jeff	PROPN
cblr-1780	465	2	sommer	sommer	PROPN
cblr-1780	465	3	,	,	PUNCT
cblr-1780	465	4	the	the	DET
cblr-1780	465	5	guns	gun	NOUN
cblr-1780	465	6	hiding	hide	VERB
cblr-1780	465	7	in	in	ADP
cblr-1780	465	8	your	your	PRON
cblr-1780	465	9	portfolio	portfolio	NOUN
cblr-1780	465	10	,	,	PUNCT
cblr-1780	465	11	n.y	n.y	PROPN
cblr-1780	465	12	.	.	PROPN
cblr-1780	465	13	times	times	PROPN
cblr-1780	465	14	,	,	PUNCT
cblr-1780	465	15	jan	jan	PROPN
cblr-1780	465	16	.	.	PROPN
cblr-1780	465	17	20	20	NUM
cblr-1780	465	18	,	,	PUNCT
cblr-1780	465	19	2013	2013	NUM
cblr-1780	465	20	,	,	PUNCT
cblr-1780	465	21	at	at	ADP
cblr-1780	465	22	mb1	mb1	PROPN
cblr-1780	465	23	.	.	PUNCT
cblr-1780	466	1	guttentag	guttentag	NOUN
cblr-1780	466	2	–	–	PUNCT
cblr-1780	466	3	final	final	ADJ
cblr-1780	466	4	626	626	NUM
cblr-1780	466	5	columbia	columbia	PROPN
cblr-1780	466	6	business	business	NOUN
cblr-1780	466	7	law	law	NOUN
cblr-1780	466	8	review	review	NOUN
cblr-1780	467	1	[	[	X
cblr-1780	467	2	vol	vol	NOUN
cblr-1780	467	3	.	.	PUNCT
cblr-1780	467	4	2014	2014	NUM
cblr-1780	467	5	management.106	management.106	NOUN
cblr-1780	467	6	for	for	ADP
cblr-1780	467	7	those	those	PRON
cblr-1780	467	8	who	who	PRON
cblr-1780	467	9	find	find	VERB
cblr-1780	467	10	profiting	profit	VERB
cblr-1780	467	11	from	from	ADP
cblr-1780	467	12	gun	gun	NOUN
cblr-1780	467	13	manufacturing	manufacturing	NOUN
cblr-1780	467	14	unpalatable	unpalatable	ADJ
cblr-1780	467	15	,	,	PUNCT
cblr-1780	467	16	there	there	PRON
cblr-1780	467	17	is	be	VERB
cblr-1780	467	18	little	little	ADJ
cblr-1780	467	19	they	they	PRON
cblr-1780	467	20	can	can	AUX
cblr-1780	467	21	do	do	VERB
cblr-1780	467	22	about	about	ADP
cblr-1780	467	23	the	the	DET
cblr-1780	467	24	fact	fact	NOUN
cblr-1780	467	25	that	that	SCONJ
cblr-1780	467	26	they	they	PRON
cblr-1780	467	27	are	be	AUX
cblr-1780	467	28	invested	invest	VERB
cblr-1780	467	29	,	,	PUNCT
cblr-1780	467	30	albeit	albeit	SCONJ
cblr-1780	467	31	indirectly	indirectly	ADV
cblr-1780	467	32	,	,	PUNCT
cblr-1780	467	33	in	in	ADP
cblr-1780	467	34	the	the	DET
cblr-1780	467	35	cerberus	cerberus	PROPN
cblr-1780	467	36	capital	capital	NOUN
cblr-1780	467	37	management	management	NOUN
cblr-1780	467	38	funds	fund	NOUN
cblr-1780	467	39	that	that	PRON
cblr-1780	467	40	own	own	VERB
cblr-1780	467	41	the	the	DET
cblr-1780	467	42	freedom	freedom	NOUN
cblr-1780	467	43	group	group	NOUN
cblr-1780	467	44	.	.	PUNCT
cblr-1780	468	1	investors	investor	NOUN
cblr-1780	468	2	that	that	PRON
cblr-1780	468	3	have	have	VERB
cblr-1780	468	4	an	an	DET
cblr-1780	468	5	investment	investment	NOUN
cblr-1780	468	6	in	in	ADP
cblr-1780	468	7	cerberus	cerberus	PROPN
cblr-1780	468	8	capital	capital	NOUN
cblr-1780	468	9	management	management	NOUN
cblr-1780	468	10	,	,	PUNCT
cblr-1780	468	11	and	and	CCONJ
cblr-1780	468	12	,	,	PUNCT
cblr-1780	468	13	therefore	therefore	ADV
cblr-1780	468	14	,	,	PUNCT
cblr-1780	468	15	profit	profit	NOUN
cblr-1780	468	16	from	from	ADP
cblr-1780	468	17	the	the	DET
cblr-1780	468	18	sale	sale	NOUN
cblr-1780	468	19	of	of	ADP
cblr-1780	468	20	products	product	NOUN
cblr-1780	468	21	such	such	ADJ
cblr-1780	468	22	as	as	ADP
cblr-1780	468	23	the	the	DET
cblr-1780	468	24	bushmaster	bushmaster	NOUN
cblr-1780	468	25	rifle	rifle	NOUN
cblr-1780	468	26	include	include	VERB
cblr-1780	468	27	the	the	DET
cblr-1780	468	28	university	university	PROPN
cblr-1780	468	29	of	of	ADP
cblr-1780	468	30	california	california	PROPN
cblr-1780	468	31	and	and	CCONJ
cblr-1780	468	32	calstrs.107	calstrs.107	VERB
cblr-1780	468	33	moreover	moreover	ADV
cblr-1780	468	34	,	,	PUNCT
cblr-1780	468	35	the	the	DET
cblr-1780	468	36	intermediation	intermediation	NOUN
cblr-1780	468	37	by	by	ADP
cblr-1780	468	38	private	private	ADJ
cblr-1780	468	39	equity	equity	NOUN
cblr-1780	468	40	firms	firm	NOUN
cblr-1780	468	41	between	between	ADP
cblr-1780	468	42	businesses	business	NOUN
cblr-1780	468	43	and	and	CCONJ
cblr-1780	468	44	investors	investor	NOUN
cblr-1780	468	45	,	,	PUNCT
cblr-1780	468	46	which	which	PRON
cblr-1780	468	47	is	be	AUX
cblr-1780	468	48	likely	likely	ADJ
cblr-1780	468	49	to	to	PART
cblr-1780	468	50	limit	limit	VERB
cblr-1780	468	51	the	the	DET
cblr-1780	468	52	ability	ability	NOUN
cblr-1780	468	53	of	of	ADP
cblr-1780	468	54	investors	investor	NOUN
cblr-1780	468	55	to	to	PART
cblr-1780	468	56	act	act	VERB
cblr-1780	468	57	on	on	ADP
cblr-1780	468	58	their	their	PRON
cblr-1780	468	59	expressive	expressive	ADJ
cblr-1780	468	60	investor	investor	NOUN
cblr-1780	468	61	protection	protection	NOUN
cblr-1780	468	62	concerns	concern	NOUN
cblr-1780	468	63	,	,	PUNCT
cblr-1780	468	64	is	be	AUX
cblr-1780	468	65	not	not	PART
cblr-1780	468	66	costless.108	costless.108	VERB
cblr-1780	468	67	neither	neither	CCONJ
cblr-1780	468	68	the	the	DET
cblr-1780	468	69	argument	argument	NOUN
cblr-1780	468	70	by	by	ADP
cblr-1780	468	71	analogy	analogy	NOUN
cblr-1780	468	72	nor	nor	CCONJ
cblr-1780	468	73	the	the	DET
cblr-1780	468	74	expressive	expressive	ADJ
cblr-1780	468	75	investor	investor	NOUN
cblr-1780	468	76	protection	protection	NOUN
cblr-1780	468	77	argument	argument	NOUN
cblr-1780	468	78	justify	justify	VERB
cblr-1780	468	79	imposing	impose	VERB
cblr-1780	468	80	a	a	DET
cblr-1780	468	81	disclosure	disclosure	NOUN
cblr-1780	468	82	requirement	requirement	NOUN
cblr-1780	468	83	on	on	ADP
cblr-1780	468	84	public	public	ADJ
cblr-1780	468	85	company	company	NOUN
cblr-1780	468	86	political	political	ADJ
cblr-1780	468	87	spending	spending	NOUN
cblr-1780	468	88	.	.	PUNCT
cblr-1780	469	1	political	political	ADJ
cblr-1780	469	2	spending	spending	NOUN
cblr-1780	469	3	is	be	AUX
cblr-1780	469	4	analogous	analogous	ADJ
cblr-1780	469	5	both	both	PRON
cblr-1780	469	6	to	to	ADP
cblr-1780	469	7	information	information	NOUN
cblr-1780	469	8	that	that	PRON
cblr-1780	469	9	is	be	AUX
cblr-1780	469	10	subject	subject	ADJ
cblr-1780	469	11	to	to	ADP
cblr-1780	469	12	a	a	DET
cblr-1780	469	13	mandatory	mandatory	ADJ
cblr-1780	469	14	disclosure	disclosure	NOUN
cblr-1780	469	15	requirement	requirement	NOUN
cblr-1780	469	16	and	and	CCONJ
cblr-1780	469	17	information	information	NOUN
cblr-1780	469	18	that	that	PRON
cblr-1780	469	19	is	be	AUX
cblr-1780	469	20	not	not	PART
cblr-1780	469	21	subject	subject	ADJ
cblr-1780	469	22	to	to	ADP
cblr-1780	469	23	such	such	DET
cblr-1780	469	24	a	a	DET
cblr-1780	469	25	disclosure	disclosure	NOUN
cblr-1780	469	26	obligation	obligation	NOUN
cblr-1780	469	27	.	.	PUNCT
cblr-1780	470	1	there	there	PRON
cblr-1780	470	2	is	be	VERB
cblr-1780	470	3	also	also	ADV
cblr-1780	470	4	a	a	DET
cblr-1780	470	5	legitimate	legitimate	ADJ
cblr-1780	470	6	issue	issue	NOUN
cblr-1780	470	7	as	as	SCONJ
cblr-1780	470	8	to	to	ADP
cblr-1780	470	9	how	how	SCONJ
cblr-1780	470	10	much	much	ADJ
cblr-1780	470	11	precedential	precedential	ADJ
cblr-1780	470	12	weight	weight	NOUN
cblr-1780	470	13	should	should	AUX
cblr-1780	470	14	be	be	AUX
cblr-1780	470	15	given	give	VERB
cblr-1780	470	16	to	to	ADP
cblr-1780	470	17	past	past	ADJ
cblr-1780	470	18	disclosure	disclosure	NOUN
cblr-1780	470	19	requirements	requirement	NOUN
cblr-1780	470	20	.	.	PUNCT
cblr-1780	471	1	as	as	ADP
cblr-1780	471	2	for	for	ADP
cblr-1780	471	3	the	the	DET
cblr-1780	471	4	expressive	expressive	ADJ
cblr-1780	471	5	investor	investor	NOUN
cblr-1780	471	6	protection	protection	NOUN
cblr-1780	471	7	argument	argument	NOUN
cblr-1780	471	8	for	for	ADP
cblr-1780	471	9	mandating	mandate	VERB
cblr-1780	471	10	political	political	ADJ
cblr-1780	471	11	spending	spending	NOUN
cblr-1780	471	12	disclosure	disclosure	NOUN
cblr-1780	471	13	,	,	PUNCT
cblr-1780	471	14	there	there	PRON
cblr-1780	471	15	is	be	VERB
cblr-1780	471	16	not	not	PART
cblr-1780	471	17	an	an	DET
cblr-1780	471	18	obvious	obvious	ADJ
cblr-1780	471	19	rationale	rationale	NOUN
cblr-1780	471	20	for	for	ADP
cblr-1780	471	21	using	use	VERB
cblr-1780	471	22	the	the	DET
cblr-1780	471	23	mandatory	mandatory	ADJ
cblr-1780	471	24	disclosure	disclosure	NOUN
cblr-1780	471	25	regime	regime	NOUN
cblr-1780	471	26	to	to	PART
cblr-1780	471	27	address	address	VERB
cblr-1780	471	28	these	these	DET
cblr-1780	471	29	concerns	concern	NOUN
cblr-1780	471	30	.	.	PUNCT
cblr-1780	472	1	moreover	moreover	ADV
cblr-1780	472	2	,	,	PUNCT
cblr-1780	472	3	given	give	VERB
cblr-1780	472	4	the	the	DET
cblr-1780	472	5	amount	amount	NOUN
cblr-1780	472	6	of	of	ADP
cblr-1780	472	7	voluntary	voluntary	ADJ
cblr-1780	472	8	disclosure	disclosure	NOUN
cblr-1780	472	9	regarding	regard	VERB
cblr-1780	472	10	these	these	DET
cblr-1780	472	11	activities	activity	NOUN
cblr-1780	472	12	already	already	ADV
cblr-1780	472	13	106	106	NUM
cblr-1780	472	14	natasha	natasha	PROPN
cblr-1780	472	15	singer	singer	NOUN
cblr-1780	472	16	,	,	PUNCT
cblr-1780	472	17	the	the	DET
cblr-1780	472	18	big	big	ADJ
cblr-1780	472	19	shot	shot	NOUN
cblr-1780	472	20	:	:	PUNCT
cblr-1780	472	21	how	how	SCONJ
cblr-1780	472	22	an	an	DET
cblr-1780	472	23	unknown	unknown	ADJ
cblr-1780	472	24	company	company	NOUN
cblr-1780	472	25	became	become	VERB
cblr-1780	472	26	the	the	DET
cblr-1780	472	27	gun	gun	NOUN
cblr-1780	472	28	industry	industry	NOUN
cblr-1780	472	29	’s	’s	PART
cblr-1780	472	30	giant	giant	NOUN
cblr-1780	472	31	,	,	PUNCT
cblr-1780	472	32	n.y	n.y	PROPN
cblr-1780	472	33	.	.	PROPN
cblr-1780	472	34	times	times	PROPN
cblr-1780	472	35	,	,	PUNCT
cblr-1780	472	36	nov	nov	PROPN
cblr-1780	472	37	.	.	PROPN
cblr-1780	472	38	27	27	NUM
cblr-1780	472	39	,	,	PUNCT
cblr-1780	472	40	2011	2011	NUM
cblr-1780	472	41	,	,	PUNCT
cblr-1780	472	42	at	at	ADP
cblr-1780	472	43	bu1	bu1	NOUN
cblr-1780	472	44	.	.	PUNCT
cblr-1780	473	1	107	107	NUM
cblr-1780	473	2	greg	greg	PROPN
cblr-1780	473	3	roumeliotis	roumeliotis	PROPN
cblr-1780	473	4	,	,	PUNCT
cblr-1780	473	5	cerberus	cerberus	PROPN
cblr-1780	473	6	raises	raise	VERB
cblr-1780	473	7	$	$	SYM
cblr-1780	473	8	2.61	2.61	NUM
cblr-1780	473	9	billion	billion	NUM
cblr-1780	473	10	private	private	ADJ
cblr-1780	473	11	equity	equity	NOUN
cblr-1780	473	12	fund	fund	PROPN
cblr-1780	473	13	:	:	PUNCT
cblr-1780	473	14	sources	source	NOUN
cblr-1780	473	15	,	,	PUNCT
cblr-1780	473	16	reuters	reuter	NOUN
cblr-1780	473	17	,	,	PUNCT
cblr-1780	473	18	may	may	AUX
cblr-1780	473	19	1	1	NUM
cblr-1780	473	20	,	,	PUNCT
cblr-1780	473	21	2013	2013	NUM
cblr-1780	473	22	,	,	PUNCT
cblr-1780	473	23	available	available	ADJ
cblr-1780	473	24	at	at	ADP
cblr-1780	473	25	http://perma.cc/b5g4p7y8	http://perma.cc/b5g4p7y8	PROPN
cblr-1780	473	26	;	;	PUNCT
cblr-1780	473	27	ricardo	ricardo	PROPN
cblr-1780	473	28	duran	duran	PROPN
cblr-1780	473	29	,	,	PUNCT
cblr-1780	473	30	calstrs	calstrs	ADJ
cblr-1780	473	31	releases	release	NOUN
cblr-1780	473	32	statement	statement	NOUN
cblr-1780	473	33	on	on	ADP
cblr-1780	473	34	investments	investment	NOUN
cblr-1780	473	35	in	in	ADP
cblr-1780	473	36	firearms	firearm	NOUN
cblr-1780	473	37	manufacturers	manufacturer	NOUN
cblr-1780	473	38	,	,	PUNCT
cblr-1780	473	39	calstrs.com	calstrs.com	X
cblr-1780	473	40	(	(	PUNCT
cblr-1780	473	41	dec	dec	PROPN
cblr-1780	473	42	.	.	PROPN
cblr-1780	473	43	18	18	NUM
cblr-1780	473	44	,	,	PUNCT
cblr-1780	473	45	2012	2012	NUM
cblr-1780	473	46	)	)	PUNCT
cblr-1780	473	47	,	,	PUNCT
cblr-1780	473	48	http://perma.cc/zrv5-92h2	http://perma.cc/zrv5-92h2	CCONJ
cblr-1780	473	49	(	(	PUNCT
cblr-1780	473	50	describing	describe	VERB
cblr-1780	473	51	the	the	DET
cblr-1780	473	52	end	end	NOUN
cblr-1780	473	53	of	of	ADP
cblr-1780	473	54	calstrs	calstrs	ADJ
cblr-1780	473	55	investment	investment	NOUN
cblr-1780	473	56	in	in	ADP
cblr-1780	473	57	cerberus	cerberus	PROPN
cblr-1780	473	58	)	)	PUNCT
cblr-1780	473	59	.	.	PUNCT
cblr-1780	474	1	shortly	shortly	ADV
cblr-1780	474	2	after	after	SCONJ
cblr-1780	474	3	adam	adam	PROPN
cblr-1780	474	4	lanza	lanza	PROPN
cblr-1780	474	5	killed	kill	VERB
cblr-1780	474	6	twenty	twenty	NUM
cblr-1780	474	7	-	-	PUNCT
cblr-1780	474	8	six	six	NUM
cblr-1780	474	9	people	people	NOUN
cblr-1780	474	10	on	on	ADP
cblr-1780	474	11	december	december	PROPN
cblr-1780	474	12	14	14	NUM
cblr-1780	474	13	,	,	PUNCT
cblr-1780	474	14	2012	2012	NUM
cblr-1780	474	15	using	use	VERB
cblr-1780	474	16	guns	gun	NOUN
cblr-1780	474	17	manufactured	manufacture	VERB
cblr-1780	474	18	by	by	ADP
cblr-1780	474	19	the	the	DET
cblr-1780	474	20	freedom	freedom	NOUN
cblr-1780	474	21	group	group	NOUN
cblr-1780	474	22	,	,	PUNCT
cblr-1780	474	23	apparently	apparently	ADV
cblr-1780	474	24	because	because	SCONJ
cblr-1780	474	25	of	of	ADP
cblr-1780	474	26	the	the	DET
cblr-1780	474	27	ensuing	ensue	VERB
cblr-1780	474	28	publicity	publicity	NOUN
cblr-1780	474	29	,	,	PUNCT
cblr-1780	474	30	cerberus	cerberus	PROPN
cblr-1780	474	31	attempted	attempt	VERB
cblr-1780	474	32	to	to	PART
cblr-1780	474	33	sell	sell	VERB
cblr-1780	474	34	its	its	PRON
cblr-1780	474	35	stake	stake	NOUN
cblr-1780	474	36	in	in	ADP
cblr-1780	474	37	the	the	DET
cblr-1780	474	38	freedom	freedom	NOUN
cblr-1780	474	39	group	group	NOUN
cblr-1780	474	40	.	.	PUNCT
cblr-1780	475	1	peter	peter	PROPN
cblr-1780	475	2	lattman	lattman	PROPN
cblr-1780	475	3	,	,	PUNCT
cblr-1780	475	4	dropping	drop	VERB
cblr-1780	475	5	its	its	PRON
cblr-1780	475	6	guns	gun	NOUN
cblr-1780	475	7	:	:	PUNCT
cblr-1780	475	8	in	in	ADP
cblr-1780	475	9	unusual	unusual	ADJ
cblr-1780	475	10	move	move	NOUN
cblr-1780	475	11	,	,	PUNCT
cblr-1780	475	12	cerberus	cerberus	PROPN
cblr-1780	475	13	is	be	AUX
cblr-1780	475	14	to	to	PART
cblr-1780	475	15	sell	sell	VERB
cblr-1780	475	16	firearms	firearm	NOUN
cblr-1780	475	17	company	company	NOUN
cblr-1780	475	18	,	,	PUNCT
cblr-1780	475	19	n.y	n.y	PROPN
cblr-1780	475	20	.	.	PROPN
cblr-1780	475	21	times	times	PROPN
cblr-1780	475	22	,	,	PUNCT
cblr-1780	475	23	dec	dec	PROPN
cblr-1780	475	24	.	.	PROPN
cblr-1780	475	25	19	19	NUM
cblr-1780	475	26	,	,	PUNCT
cblr-1780	475	27	2012	2012	NUM
cblr-1780	475	28	,	,	PUNCT
cblr-1780	475	29	at	at	ADP
cblr-1780	475	30	b1	b1	NOUN
cblr-1780	475	31	;	;	PUNCT
cblr-1780	475	32	michael	michael	PROPN
cblr-1780	475	33	j.	j.	PROPN
cblr-1780	475	34	de	de	PROPN
cblr-1780	475	35	la	la	PROPN
cblr-1780	475	36	merced	merced	PROPN
cblr-1780	475	37	,	,	PUNCT
cblr-1780	475	38	cerberus	cerberus	PROPN
cblr-1780	475	39	regrouping	regroup	VERB
cblr-1780	475	40	in	in	ADP
cblr-1780	475	41	bid	bid	NOUN
cblr-1780	475	42	to	to	PART
cblr-1780	475	43	sell	sell	VERB
cblr-1780	475	44	gun	gun	NOUN
cblr-1780	475	45	maker	maker	NOUN
cblr-1780	475	46	,	,	PUNCT
cblr-1780	475	47	n.y	n.y	PROPN
cblr-1780	475	48	.	.	PROPN
cblr-1780	475	49	times	times	PROPN
cblr-1780	475	50	,	,	PUNCT
cblr-1780	475	51	dec	dec	PROPN
cblr-1780	475	52	.	.	PROPN
cblr-1780	475	53	10	10	NUM
cblr-1780	475	54	,	,	PUNCT
cblr-1780	475	55	2013	2013	NUM
cblr-1780	475	56	,	,	PUNCT
cblr-1780	475	57	at	at	ADP
cblr-1780	475	58	b1	b1	NOUN
cblr-1780	475	59	.	.	PUNCT
cblr-1780	476	1	108	108	NUM
cblr-1780	476	2	see	see	VERB
cblr-1780	476	3	,	,	PUNCT
cblr-1780	476	4	e.g.	e.g.	ADV
cblr-1780	476	5	,	,	PUNCT
cblr-1780	476	6	victor	victor	PROPN
cblr-1780	476	7	fleischer	fleischer	PROPN
cblr-1780	476	8	,	,	PUNCT
cblr-1780	476	9	two	two	NUM
cblr-1780	476	10	and	and	CCONJ
cblr-1780	476	11	twenty	twenty	NUM
cblr-1780	476	12	:	:	PUNCT
cblr-1780	476	13	taxing	tax	VERB
cblr-1780	476	14	partnership	partnership	NOUN
cblr-1780	476	15	profits	profit	NOUN
cblr-1780	476	16	in	in	ADP
cblr-1780	476	17	private	private	ADJ
cblr-1780	476	18	equity	equity	NOUN
cblr-1780	476	19	funds	fund	NOUN
cblr-1780	476	20	,	,	PUNCT
cblr-1780	476	21	83	83	NUM
cblr-1780	476	22	n.y.u	n.y.u	NOUN
cblr-1780	476	23	.	.	PUNCT
cblr-1780	477	1	l.	l.	PROPN
cblr-1780	477	2	rev	rev	PROPN
cblr-1780	477	3	.	.	PROPN
cblr-1780	477	4	1	1	NUM
cblr-1780	477	5	,	,	PUNCT
cblr-1780	477	6	1–2	1–2	NUM
cblr-1780	477	7	(	(	PUNCT
cblr-1780	477	8	2008	2008	NUM
cblr-1780	477	9	)	)	PUNCT
cblr-1780	477	10	.	.	PUNCT
cblr-1780	478	1	guttentag	guttentag	NOUN
cblr-1780	478	2	–	–	PUNCT
cblr-1780	478	3	final	final	ADJ
cblr-1780	478	4	no	no	NOUN
cblr-1780	478	5	.	.	PUNCT
cblr-1780	479	1	3:593	3:593	NUM
cblr-1780	479	2	]	]	PUNCT
cblr-1780	479	3	on	on	ADP
cblr-1780	479	4	political	political	ADJ
cblr-1780	479	5	spending	spending	NOUN
cblr-1780	479	6	disclosure	disclosure	NOUN
cblr-1780	479	7	627	627	NUM
cblr-1780	479	8	occurring	occurring	NOUN
cblr-1780	479	9	and	and	CCONJ
cblr-1780	479	10	the	the	DET
cblr-1780	479	11	ease	ease	NOUN
cblr-1780	479	12	with	with	ADP
cblr-1780	479	13	which	which	PRON
cblr-1780	479	14	firms	firm	NOUN
cblr-1780	479	15	can	can	AUX
cblr-1780	479	16	avoid	avoid	VERB
cblr-1780	479	17	the	the	DET
cblr-1780	479	18	public	public	ADJ
cblr-1780	479	19	company	company	NOUN
cblr-1780	479	20	reporting	report	VERB
cblr-1780	479	21	regime	regime	NOUN
cblr-1780	479	22	entirely	entirely	ADV
cblr-1780	479	23	,	,	PUNCT
cblr-1780	479	24	imposing	impose	VERB
cblr-1780	479	25	disclosure	disclosure	NOUN
cblr-1780	479	26	requirements	requirement	NOUN
cblr-1780	479	27	based	base	VERB
cblr-1780	479	28	on	on	ADP
cblr-1780	479	29	expressive	expressive	ADJ
cblr-1780	479	30	concerns	concern	NOUN
cblr-1780	479	31	is	be	AUX
cblr-1780	479	32	probably	probably	ADV
cblr-1780	479	33	unnecessary	unnecessary	ADJ
cblr-1780	479	34	and	and	CCONJ
cblr-1780	479	35	potentially	potentially	ADV
cblr-1780	479	36	even	even	ADV
cblr-1780	479	37	counter	counter	NOUN
cblr-1780	479	38	-	-	NOUN
cblr-1780	479	39	productive	productive	ADJ
cblr-1780	479	40	.	.	PUNCT
cblr-1780	480	1	e.	e.	PROPN
cblr-1780	480	2	market	market	NOUN
cblr-1780	480	3	failures	failure	NOUN
cblr-1780	480	4	and	and	CCONJ
cblr-1780	480	5	the	the	DET
cblr-1780	480	6	mandatory	mandatory	ADJ
cblr-1780	480	7	disclosure	disclosure	NOUN
cblr-1780	480	8	of	of	ADP
cblr-1780	480	9	political	political	ADJ
cblr-1780	480	10	spending	spending	NOUN
cblr-1780	480	11	bebchuk	bebchuk	NOUN
cblr-1780	480	12	and	and	CCONJ
cblr-1780	480	13	jackson	jackson	PROPN
cblr-1780	480	14	do	do	AUX
cblr-1780	480	15	not	not	PART
cblr-1780	480	16	rely	rely	VERB
cblr-1780	480	17	solely	solely	ADV
cblr-1780	480	18	on	on	ADP
cblr-1780	480	19	the	the	DET
cblr-1780	480	20	argument	argument	NOUN
cblr-1780	480	21	by	by	ADP
cblr-1780	480	22	analogy	analogy	NOUN
cblr-1780	480	23	and	and	CCONJ
cblr-1780	480	24	the	the	DET
cblr-1780	480	25	expressive	expressive	ADJ
cblr-1780	480	26	investor	investor	NOUN
cblr-1780	480	27	protection	protection	NOUN
cblr-1780	480	28	argument	argument	NOUN
cblr-1780	480	29	to	to	PART
cblr-1780	480	30	justify	justify	VERB
cblr-1780	480	31	requiring	require	VERB
cblr-1780	480	32	the	the	DET
cblr-1780	480	33	disclosure	disclosure	NOUN
cblr-1780	480	34	of	of	ADP
cblr-1780	480	35	political	political	ADJ
cblr-1780	480	36	spending	spending	NOUN
cblr-1780	480	37	by	by	ADP
cblr-1780	480	38	public	public	ADJ
cblr-1780	480	39	firms	firm	NOUN
cblr-1780	480	40	.	.	PUNCT
cblr-1780	481	1	they	they	PRON
cblr-1780	481	2	also	also	ADV
cblr-1780	481	3	consider	consider	VERB
cblr-1780	481	4	market	market	NOUN
cblr-1780	481	5	failure	failure	NOUN
cblr-1780	481	6	justifications	justification	NOUN
cblr-1780	481	7	for	for	ADP
cblr-1780	481	8	mandatory	mandatory	ADJ
cblr-1780	481	9	disclosure	disclosure	NOUN
cblr-1780	481	10	regulation	regulation	NOUN
cblr-1780	481	11	.	.	PUNCT
cblr-1780	482	1	two	two	NUM
cblr-1780	482	2	instances	instance	NOUN
cblr-1780	482	3	in	in	ADP
cblr-1780	482	4	which	which	PRON
cblr-1780	482	5	bebchuk	bebchuk	NOUN
cblr-1780	482	6	and	and	CCONJ
cblr-1780	482	7	jackson	jackson	PROPN
cblr-1780	482	8	turn	turn	VERB
cblr-1780	482	9	to	to	ADP
cblr-1780	482	10	market	market	NOUN
cblr-1780	482	11	failure	failure	NOUN
cblr-1780	482	12	arguments	argument	NOUN
cblr-1780	482	13	are	be	AUX
cblr-1780	482	14	especially	especially	ADV
cblr-1780	482	15	noteworthy	noteworthy	ADJ
cblr-1780	482	16	.	.	PUNCT
cblr-1780	483	1	the	the	DET
cblr-1780	483	2	first	first	ADJ
cblr-1780	483	3	instance	instance	NOUN
cblr-1780	483	4	in	in	ADP
cblr-1780	483	5	which	which	PRON
cblr-1780	483	6	bebchuk	bebchuk	NOUN
cblr-1780	483	7	and	and	CCONJ
cblr-1780	483	8	jackson	jackson	PROPN
cblr-1780	483	9	offer	offer	VERB
cblr-1780	483	10	a	a	DET
cblr-1780	483	11	more	more	ADV
cblr-1780	483	12	fundamental	fundamental	ADJ
cblr-1780	483	13	economic	economic	ADJ
cblr-1780	483	14	justification	justification	NOUN
cblr-1780	483	15	for	for	ADP
cblr-1780	483	16	requiring	require	VERB
cblr-1780	483	17	political	political	ADJ
cblr-1780	483	18	spending	spending	NOUN
cblr-1780	483	19	disclosure	disclosure	NOUN
cblr-1780	483	20	by	by	ADP
cblr-1780	483	21	public	public	ADJ
cblr-1780	483	22	companies	company	NOUN
cblr-1780	483	23	comes	come	VERB
cblr-1780	483	24	when	when	SCONJ
cblr-1780	483	25	they	they	PRON
cblr-1780	483	26	consider	consider	VERB
cblr-1780	483	27	why	why	SCONJ
cblr-1780	483	28	private	private	ADJ
cblr-1780	483	29	ordering	ordering	NOUN
cblr-1780	483	30	may	may	AUX
cblr-1780	483	31	not	not	PART
cblr-1780	483	32	lead	lead	VERB
cblr-1780	483	33	to	to	ADP
cblr-1780	483	34	an	an	DET
cblr-1780	483	35	optimal	optimal	ADJ
cblr-1780	483	36	amount	amount	NOUN
cblr-1780	483	37	of	of	ADP
cblr-1780	483	38	political	political	ADJ
cblr-1780	483	39	spending	spending	NOUN
cblr-1780	483	40	disclosure	disclosure	NOUN
cblr-1780	483	41	.	.	PUNCT
cblr-1780	484	1	bebchuk	bebchuk	PROPN
cblr-1780	484	2	and	and	CCONJ
cblr-1780	484	3	jackson	jackson	PROPN
cblr-1780	484	4	offer	offer	VERB
cblr-1780	484	5	four	four	NUM
cblr-1780	484	6	reasons	reason	NOUN
cblr-1780	484	7	related	relate	VERB
cblr-1780	484	8	to	to	ADP
cblr-1780	484	9	disclosure	disclosure	NOUN
cblr-1780	484	10	market	market	NOUN
cblr-1780	484	11	failures	failure	NOUN
cblr-1780	484	12	to	to	PART
cblr-1780	484	13	explain	explain	VERB
cblr-1780	484	14	why	why	SCONJ
cblr-1780	484	15	private	private	ADJ
cblr-1780	484	16	ordering	ordering	NOUN
cblr-1780	484	17	could	could	AUX
cblr-1780	484	18	fail	fail	VERB
cblr-1780	484	19	in	in	ADP
cblr-1780	484	20	the	the	DET
cblr-1780	484	21	context	context	NOUN
cblr-1780	484	22	of	of	ADP
cblr-1780	484	23	political	political	ADJ
cblr-1780	484	24	spending	spending	NOUN
cblr-1780	484	25	disclosure	disclosure	NOUN
cblr-1780	484	26	.	.	PUNCT
cblr-1780	485	1	first	first	ADV
cblr-1780	485	2	,	,	PUNCT
cblr-1780	485	3	bebchuk	bebchuk	PROPN
cblr-1780	485	4	and	and	CCONJ
cblr-1780	485	5	jackson	jackson	PROPN
cblr-1780	485	6	observe	observe	VERB
cblr-1780	485	7	that	that	SCONJ
cblr-1780	485	8	firms	firm	NOUN
cblr-1780	485	9	that	that	PRON
cblr-1780	485	10	do	do	AUX
cblr-1780	485	11	not	not	PART
cblr-1780	485	12	disclose	disclose	VERB
cblr-1780	485	13	political	political	ADJ
cblr-1780	485	14	spending	spending	NOUN
cblr-1780	485	15	may	may	AUX
cblr-1780	485	16	nevertheless	nevertheless	ADV
cblr-1780	485	17	be	be	AUX
cblr-1780	485	18	the	the	DET
cblr-1780	485	19	low	low	ADJ
cblr-1780	485	20	-	-	PUNCT
cblr-1780	485	21	cost	cost	NOUN
cblr-1780	485	22	provider	provider	NOUN
cblr-1780	485	23	of	of	ADP
cblr-1780	485	24	this	this	PRON
cblr-1780	485	25	information.109	information.109	VERB
cblr-1780	485	26	in	in	ADP
cblr-1780	485	27	this	this	DET
cblr-1780	485	28	regard	regard	NOUN
cblr-1780	485	29	,	,	PUNCT
cblr-1780	485	30	bebchuk	bebchuk	PROPN
cblr-1780	485	31	and	and	CCONJ
cblr-1780	485	32	jackson	jackson	PROPN
cblr-1780	485	33	observe	observe	VERB
cblr-1780	485	34	109	109	NUM
cblr-1780	485	35	bebchuk	bebchuk	PROPN
cblr-1780	485	36	&	&	CCONJ
cblr-1780	485	37	jackson	jackson	PROPN
cblr-1780	485	38	,	,	PUNCT
cblr-1780	485	39	shining	shine	VERB
cblr-1780	485	40	light	light	NOUN
cblr-1780	485	41	,	,	PUNCT
cblr-1780	485	42	supra	supra	PROPN
cblr-1780	485	43	note	note	NOUN
cblr-1780	485	44	27	27	NUM
cblr-1780	485	45	,	,	PUNCT
cblr-1780	485	46	at	at	ADP
cblr-1780	485	47	935	935	NUM
cblr-1780	485	48	(	(	PUNCT
cblr-1780	485	49	“	"	PUNCT
cblr-1780	485	50	investors	investor	NOUN
cblr-1780	485	51	in	in	ADP
cblr-1780	485	52	public	public	ADJ
cblr-1780	485	53	companies	company	NOUN
cblr-1780	485	54	should	should	AUX
cblr-1780	485	55	not	not	PART
cblr-1780	485	56	have	have	VERB
cblr-1780	485	57	to	to	PART
cblr-1780	485	58	bear	bear	VERB
cblr-1780	485	59	the	the	DET
cblr-1780	485	60	costs	cost	NOUN
cblr-1780	485	61	of	of	ADP
cblr-1780	485	62	assembling	assemble	VERB
cblr-1780	485	63	this	this	DET
cblr-1780	485	64	information	information	NOUN
cblr-1780	485	65	when	when	SCONJ
cblr-1780	485	66	the	the	DET
cblr-1780	485	67	corporation	corporation	NOUN
cblr-1780	485	68	,	,	PUNCT
cblr-1780	485	69	which	which	PRON
cblr-1780	485	70	already	already	ADV
cblr-1780	485	71	has	have	VERB
cblr-1780	485	72	the	the	DET
cblr-1780	485	73	information	information	NOUN
cblr-1780	485	74	,	,	PUNCT
cblr-1780	485	75	can	can	AUX
cblr-1780	485	76	easily	easily	ADV
cblr-1780	485	77	provide	provide	VERB
cblr-1780	485	78	it	it	PRON
cblr-1780	485	79	to	to	ADP
cblr-1780	485	80	shareholders	shareholder	NOUN
cblr-1780	485	81	.	.	PUNCT
cblr-1780	485	82	”	"	PUNCT
cblr-1780	485	83	)	)	PUNCT
cblr-1780	485	84	.	.	PUNCT
cblr-1780	486	1	see	see	VERB
cblr-1780	486	2	also	also	ADV
cblr-1780	486	3	bebchuk	bebchuk	PROPN
cblr-1780	486	4	&	&	CCONJ
cblr-1780	486	5	jackson	jackson	PROPN
cblr-1780	486	6	,	,	PUNCT
cblr-1780	486	7	who	who	PRON
cblr-1780	486	8	decides	decide	VERB
cblr-1780	486	9	,	,	PUNCT
cblr-1780	486	10	supra	supra	PROPN
cblr-1780	486	11	note	note	NOUN
cblr-1780	486	12	23	23	NUM
cblr-1780	486	13	,	,	PUNCT
cblr-1780	486	14	at	at	ADP
cblr-1780	486	15	106	106	NUM
cblr-1780	486	16	(	(	PUNCT
cblr-1780	486	17	“	"	PUNCT
cblr-1780	486	18	the	the	DET
cblr-1780	486	19	corporation	corporation	NOUN
cblr-1780	486	20	,	,	PUNCT
cblr-1780	486	21	rather	rather	ADV
cblr-1780	486	22	than	than	ADP
cblr-1780	486	23	individual	individual	ADJ
cblr-1780	486	24	investors	investor	NOUN
cblr-1780	486	25	,	,	PUNCT
cblr-1780	486	26	is	be	AUX
cblr-1780	486	27	in	in	ADP
cblr-1780	486	28	the	the	DET
cblr-1780	486	29	best	good	ADJ
cblr-1780	486	30	position	position	NOUN
cblr-1780	486	31	to	to	PART
cblr-1780	486	32	put	put	VERB
cblr-1780	486	33	together	together	ADV
cblr-1780	486	34	the	the	DET
cblr-1780	486	35	needed	needed	ADJ
cblr-1780	486	36	information	information	NOUN
cblr-1780	486	37	in	in	ADP
cblr-1780	486	38	a	a	DET
cblr-1780	486	39	cost	cost	NOUN
cblr-1780	486	40	-	-	PUNCT
cblr-1780	486	41	effective	effective	ADJ
cblr-1780	486	42	way	way	NOUN
cblr-1780	486	43	.	.	PUNCT
cblr-1780	486	44	”	"	PUNCT
cblr-1780	486	45	)	)	PUNCT
cblr-1780	486	46	.	.	PUNCT
cblr-1780	487	1	this	this	DET
cblr-1780	487	2	bebchuk	bebchuk	NOUN
cblr-1780	487	3	and	and	CCONJ
cblr-1780	487	4	jackson	jackson	PROPN
cblr-1780	487	5	argument	argument	PROPN
cblr-1780	487	6	harkens	harken	VERB
cblr-1780	487	7	back	back	ADV
cblr-1780	487	8	to	to	ADP
cblr-1780	487	9	observations	observation	NOUN
cblr-1780	487	10	made	make	VERB
cblr-1780	487	11	in	in	ADP
cblr-1780	487	12	frank	frank	PROPN
cblr-1780	487	13	h.	h.	PROPN
cblr-1780	487	14	easterbrook	easterbrook	PROPN
cblr-1780	487	15	&	&	CCONJ
cblr-1780	487	16	daniel	daniel	PROPN
cblr-1780	487	17	r.	r.	PROPN
cblr-1780	487	18	fischel	fischel	PROPN
cblr-1780	487	19	,	,	PUNCT
cblr-1780	487	20	mandatory	mandatory	ADJ
cblr-1780	487	21	disclosure	disclosure	NOUN
cblr-1780	487	22	and	and	CCONJ
cblr-1780	487	23	the	the	DET
cblr-1780	487	24	protection	protection	NOUN
cblr-1780	487	25	of	of	ADP
cblr-1780	487	26	investors	investor	NOUN
cblr-1780	487	27	,	,	PUNCT
cblr-1780	487	28	70	70	NUM
cblr-1780	487	29	va	va	NOUN
cblr-1780	487	30	.	.	PUNCT
cblr-1780	488	1	l.	l.	PROPN
cblr-1780	488	2	rev	rev	PROPN
cblr-1780	488	3	.	.	PROPN
cblr-1780	488	4	669	669	NUM
cblr-1780	488	5	,	,	PUNCT
cblr-1780	488	6	684	684	NUM
cblr-1780	488	7	(	(	PUNCT
cblr-1780	488	8	1984	1984	NUM
cblr-1780	488	9	)	)	PUNCT
cblr-1780	488	10	(	(	PUNCT
cblr-1780	488	11	“	"	PUNCT
cblr-1780	488	12	for	for	ADP
cblr-1780	488	13	most	most	ADJ
cblr-1780	488	14	information	information	NOUN
cblr-1780	488	15	about	about	ADP
cblr-1780	488	16	a	a	DET
cblr-1780	488	17	firm	firm	NOUN
cblr-1780	488	18	,	,	PUNCT
cblr-1780	488	19	the	the	DET
cblr-1780	488	20	firm	firm	NOUN
cblr-1780	488	21	itself	itself	PRON
cblr-1780	488	22	can	can	AUX
cblr-1780	488	23	create	create	VERB
cblr-1780	488	24	and	and	CCONJ
cblr-1780	488	25	distribute	distribute	VERB
cblr-1780	488	26	the	the	DET
cblr-1780	488	27	knowledge	knowledge	NOUN
cblr-1780	488	28	at	at	ADP
cblr-1780	488	29	less	less	ADJ
cblr-1780	488	30	cost	cost	NOUN
cblr-1780	488	31	than	than	ADP
cblr-1780	488	32	the	the	DET
cblr-1780	488	33	shareholders	shareholder	NOUN
cblr-1780	488	34	.	.	PUNCT
cblr-1780	488	35	”	"	PUNCT
cblr-1780	488	36	)	)	PUNCT
cblr-1780	488	37	.	.	PUNCT
cblr-1780	489	1	easterbrook	easterbrook	PROPN
cblr-1780	489	2	and	and	CCONJ
cblr-1780	489	3	fischel	fischel	PROPN
cblr-1780	489	4	observe	observe	VERB
cblr-1780	489	5	that	that	SCONJ
cblr-1780	489	6	the	the	DET
cblr-1780	489	7	argument	argument	NOUN
cblr-1780	489	8	that	that	SCONJ
cblr-1780	489	9	the	the	DET
cblr-1780	489	10	firm	firm	NOUN
cblr-1780	489	11	may	may	AUX
cblr-1780	489	12	be	be	AUX
cblr-1780	489	13	the	the	DET
cblr-1780	489	14	low	low	ADJ
cblr-1780	489	15	-	-	PUNCT
cblr-1780	489	16	cost	cost	NOUN
cblr-1780	489	17	provider	provider	NOUN
cblr-1780	489	18	of	of	ADP
cblr-1780	489	19	firm	firm	ADJ
cblr-1780	489	20	-	-	PUNCT
cblr-1780	489	21	specific	specific	ADJ
cblr-1780	489	22	information	information	NOUN
cblr-1780	489	23	and	and	CCONJ
cblr-1780	489	24	other	other	ADJ
cblr-1780	489	25	economic	economic	ADJ
cblr-1780	489	26	arguments	argument	NOUN
cblr-1780	489	27	for	for	ADP
cblr-1780	489	28	mandatory	mandatory	ADJ
cblr-1780	489	29	disclosure	disclosure	NOUN
cblr-1780	489	30	requirements	requirement	NOUN
cblr-1780	489	31	“	"	PUNCT
cblr-1780	489	32	have	have	VERB
cblr-1780	489	33	a	a	DET
cblr-1780	489	34	common	common	ADJ
cblr-1780	489	35	problem	problem	NOUN
cblr-1780	489	36	:	:	PUNCT
cblr-1780	489	37	they	they	PRON
cblr-1780	489	38	do	do	AUX
cblr-1780	489	39	not	not	PART
cblr-1780	489	40	link	link	VERB
cblr-1780	489	41	the	the	DET
cblr-1780	489	42	guttentag	guttentag	NOUN
cblr-1780	489	43	–	–	PUNCT
cblr-1780	490	1	final	final	ADJ
cblr-1780	490	2	628	628	NUM
cblr-1780	490	3	columbia	columbia	PROPN
cblr-1780	490	4	business	business	NOUN
cblr-1780	490	5	law	law	PROPN
cblr-1780	490	6	review	review	NOUN
cblr-1780	490	7	[	[	X
cblr-1780	490	8	vol	vol	NOUN
cblr-1780	490	9	.	.	PUNCT
cblr-1780	490	10	2014	2014	NUM
cblr-1780	490	11	that	that	SCONJ
cblr-1780	490	12	“	"	PUNCT
cblr-1780	490	13	the	the	DET
cblr-1780	490	14	quality	quality	NOUN
cblr-1780	490	15	of	of	ADP
cblr-1780	490	16	[	[	X
cblr-1780	490	17	political	political	ADJ
cblr-1780	490	18	spending	spending	NOUN
cblr-1780	490	19	]	]	PUNCT
cblr-1780	490	20	information	information	NOUN
cblr-1780	490	21	that	that	SCONJ
cblr-1780	490	22	large	large	ADJ
cblr-1780	490	23	public	public	ADJ
cblr-1780	490	24	companies	company	NOUN
cblr-1780	490	25	have	have	AUX
cblr-1780	490	26	so	so	ADV
cblr-1780	490	27	far	far	ADV
cblr-1780	490	28	provided	provide	VERB
cblr-1780	490	29	to	to	ADP
cblr-1780	490	30	investors	investor	NOUN
cblr-1780	490	31	through	through	ADP
cblr-1780	490	32	voluntary	voluntary	ADJ
cblr-1780	490	33	disclosure	disclosure	NOUN
cblr-1780	490	34	policies	policy	NOUN
cblr-1780	490	35	is	be	AUX
cblr-1780	490	36	generally	generally	ADV
cblr-1780	490	37	low	low	ADJ
cblr-1780	490	38	.	.	PUNCT
cblr-1780	490	39	”110	”110	PUNCT
cblr-1780	490	40	however	however	ADV
cblr-1780	490	41	,	,	PUNCT
cblr-1780	490	42	it	it	PRON
cblr-1780	490	43	is	be	AUX
cblr-1780	490	44	unclear	unclear	ADJ
cblr-1780	490	45	why	why	SCONJ
cblr-1780	490	46	it	it	PRON
cblr-1780	490	47	might	might	AUX
cblr-1780	490	48	not	not	PART
cblr-1780	490	49	simply	simply	ADV
cblr-1780	490	50	be	be	AUX
cblr-1780	490	51	the	the	DET
cblr-1780	490	52	case	case	NOUN
cblr-1780	490	53	that	that	SCONJ
cblr-1780	490	54	low	low	ADJ
cblr-1780	490	55	quality	quality	NOUN
cblr-1780	490	56	disclosures	disclosure	NOUN
cblr-1780	490	57	are	be	AUX
cblr-1780	490	58	the	the	DET
cblr-1780	490	59	optimal	optimal	ADJ
cblr-1780	490	60	output	output	NOUN
cblr-1780	490	61	of	of	ADP
cblr-1780	490	62	an	an	DET
cblr-1780	490	63	efficient	efficient	ADJ
cblr-1780	490	64	private	private	ADJ
cblr-1780	490	65	ordering	ordering	NOUN
cblr-1780	490	66	process	process	NOUN
cblr-1780	490	67	.	.	PUNCT
cblr-1780	491	1	second	second	ADJ
cblr-1780	491	2	,	,	PUNCT
cblr-1780	491	3	bebchuk	bebchuk	PROPN
cblr-1780	491	4	and	and	CCONJ
cblr-1780	491	5	jackson	jackson	PROPN
cblr-1780	491	6	observe	observe	VERB
cblr-1780	491	7	that	that	SCONJ
cblr-1780	491	8	private	private	ADJ
cblr-1780	491	9	ordering	ordering	NOUN
cblr-1780	491	10	might	might	AUX
cblr-1780	491	11	result	result	VERB
cblr-1780	491	12	in	in	ADP
cblr-1780	491	13	a	a	DET
cblr-1780	491	14	“	"	PUNCT
cblr-1780	491	15	lack	lack	NOUN
cblr-1780	491	16	of	of	ADP
cblr-1780	491	17	uniformity	uniformity	NOUN
cblr-1780	491	18	[	[	X
cblr-1780	491	19	which	which	PRON
cblr-1780	491	20	]	]	PUNCT
cblr-1780	491	21	makes	make	VERB
cblr-1780	491	22	comparison	comparison	NOUN
cblr-1780	491	23	among	among	ADP
cblr-1780	491	24	companies	company	NOUN
cblr-1780	491	25	costly	costly	ADJ
cblr-1780	491	26	for	for	ADP
cblr-1780	491	27	investors	investor	NOUN
cblr-1780	491	28	.	.	PUNCT
cblr-1780	492	1	”111	”111	PROPN
cblr-1780	492	2	third	third	ADV
cblr-1780	492	3	,	,	PUNCT
cblr-1780	492	4	bebchuk	bebchuk	PROPN
cblr-1780	492	5	and	and	CCONJ
cblr-1780	492	6	jackson	jackson	PROPN
cblr-1780	492	7	express	express	PROPN
cblr-1780	492	8	concern	concern	NOUN
cblr-1780	492	9	that	that	SCONJ
cblr-1780	492	10	relying	rely	VERB
cblr-1780	492	11	on	on	ADP
cblr-1780	492	12	voluntary	voluntary	ADJ
cblr-1780	492	13	disclosure	disclosure	NOUN
cblr-1780	492	14	of	of	ADP
cblr-1780	492	15	political	political	ADJ
cblr-1780	492	16	spending	spending	NOUN
cblr-1780	492	17	is	be	AUX
cblr-1780	492	18	problematic	problematic	ADJ
cblr-1780	492	19	,	,	PUNCT
cblr-1780	492	20	because	because	SCONJ
cblr-1780	492	21	of	of	ADP
cblr-1780	492	22	the	the	DET
cblr-1780	492	23	collective	collective	ADJ
cblr-1780	492	24	action	action	NOUN
cblr-1780	492	25	problems	problem	NOUN
cblr-1780	492	26	shareholders	shareholder	NOUN
cblr-1780	492	27	face	face	VERB
cblr-1780	492	28	generally.112	generally.112	VERB
cblr-1780	492	29	to	to	PART
cblr-1780	492	30	support	support	VERB
cblr-1780	492	31	this	this	DET
cblr-1780	492	32	claim	claim	NOUN
cblr-1780	492	33	,	,	PUNCT
cblr-1780	492	34	bebchuk	bebchuk	PROPN
cblr-1780	492	35	and	and	CCONJ
cblr-1780	492	36	jackson	jackson	PROPN
cblr-1780	492	37	observe	observe	VERB
cblr-1780	492	38	that	that	SCONJ
cblr-1780	492	39	“	"	PUNCT
cblr-1780	492	40	most	most	ADJ
cblr-1780	492	41	public	public	ADJ
cblr-1780	492	42	companies	company	NOUN
cblr-1780	492	43	currently	currently	ADV
cblr-1780	492	44	do	do	AUX
cblr-1780	492	45	not	not	PART
cblr-1780	492	46	disclose	disclose	VERB
cblr-1780	492	47	any	any	DET
cblr-1780	492	48	information	information	NOUN
cblr-1780	492	49	at	at	ADV
cblr-1780	492	50	all	all	ADV
cblr-1780	492	51	about	about	ADP
cblr-1780	492	52	political	political	ADJ
cblr-1780	492	53	spending,”113	spending,”113	NOUN
cblr-1780	492	54	but	but	CCONJ
cblr-1780	492	55	do	do	AUX
cblr-1780	492	56	not	not	PART
cblr-1780	492	57	present	present	VERB
cblr-1780	492	58	evidence	evidence	NOUN
cblr-1780	492	59	that	that	SCONJ
cblr-1780	492	60	,	,	PUNCT
cblr-1780	492	61	but	but	CCONJ
cblr-1780	492	62	for	for	ADP
cblr-1780	492	63	collective	collective	ADJ
cblr-1780	492	64	action	action	NOUN
cblr-1780	492	65	problems	problem	NOUN
cblr-1780	492	66	,	,	PUNCT
cblr-1780	492	67	firms	firm	NOUN
cblr-1780	492	68	would	would	AUX
cblr-1780	492	69	disclose	disclose	VERB
cblr-1780	492	70	this	this	DET
cblr-1780	492	71	information.114	information.114	ADJ
cblr-1780	492	72	fourth	fourth	ADJ
cblr-1780	492	73	,	,	PUNCT
cblr-1780	492	74	bebchuk	bebchuk	PROPN
cblr-1780	492	75	and	and	CCONJ
cblr-1780	492	76	jackson	jackson	PROPN
cblr-1780	492	77	observe	observe	VERB
cblr-1780	492	78	that	that	SCONJ
cblr-1780	492	79	,	,	PUNCT
cblr-1780	492	80	even	even	ADV
cblr-1780	492	81	if	if	SCONJ
cblr-1780	492	82	most	most	ADJ
cblr-1780	492	83	firms	firm	NOUN
cblr-1780	492	84	did	do	AUX
cblr-1780	492	85	comply	comply	VERB
cblr-1780	492	86	with	with	ADP
cblr-1780	492	87	a	a	DET
cblr-1780	492	88	voluntary	voluntary	ADJ
cblr-1780	492	89	disclosure	disclosure	NOUN
cblr-1780	492	90	regime	regime	NOUN
cblr-1780	492	91	,	,	PUNCT
cblr-1780	492	92	there	there	PRON
cblr-1780	492	93	might	might	AUX
cblr-1780	492	94	remain	remain	VERB
cblr-1780	492	95	a	a	DET
cblr-1780	492	96	few	few	ADJ
cblr-1780	492	97	recalcitrant	recalcitrant	ADJ
cblr-1780	492	98	firms	firm	NOUN
cblr-1780	492	99	that	that	PRON
cblr-1780	492	100	refuse	refuse	VERB
cblr-1780	492	101	to	to	PART
cblr-1780	492	102	disclose	disclose	VERB
cblr-1780	492	103	their	their	PRON
cblr-1780	492	104	political	political	ADJ
cblr-1780	492	105	spending	spending	NOUN
cblr-1780	492	106	,	,	PUNCT
cblr-1780	492	107	and	and	CCONJ
cblr-1780	492	108	that	that	SCONJ
cblr-1780	492	109	the	the	DET
cblr-1780	492	110	“	"	PUNCT
cblr-1780	492	111	companies	company	NOUN
cblr-1780	492	112	that	that	PRON
cblr-1780	492	113	do	do	AUX
cblr-1780	492	114	decline	decline	VERB
cblr-1780	492	115	to	to	PART
cblr-1780	492	116	disclose	disclose	VERB
cblr-1780	492	117	might	might	AUX
cblr-1780	492	118	be	be	AUX
cblr-1780	492	119	benefit	benefit	NOUN
cblr-1780	492	120	of	of	ADP
cblr-1780	492	121	disclosure	disclosure	NOUN
cblr-1780	492	122	and	and	CCONJ
cblr-1780	492	123	the	the	DET
cblr-1780	492	124	benefit	benefit	NOUN
cblr-1780	492	125	of	of	ADP
cblr-1780	492	126	mandatory	mandatory	ADJ
cblr-1780	492	127	disclosure	disclosure	NOUN
cblr-1780	492	128	.	.	PUNCT
cblr-1780	493	1	if	if	SCONJ
cblr-1780	493	2	disclosure	disclosure	NOUN
cblr-1780	493	3	is	be	AUX
cblr-1780	493	4	worthwhile	worthwhile	ADJ
cblr-1780	493	5	to	to	ADP
cblr-1780	493	6	investors	investor	NOUN
cblr-1780	493	7	,	,	PUNCT
cblr-1780	493	8	the	the	DET
cblr-1780	493	9	firm	firm	NOUN
cblr-1780	493	10	can	can	AUX
cblr-1780	493	11	profit	profit	VERB
cblr-1780	493	12	by	by	ADP
cblr-1780	493	13	providing	provide	VERB
cblr-1780	493	14	it	it	PRON
cblr-1780	493	15	.	.	PUNCT
cblr-1780	493	16	”	"	PUNCT
cblr-1780	494	1	i	i	PRON
cblr-1780	494	2	d.	d.	VERB
cblr-1780	494	3	at	at	ADP
cblr-1780	494	4	682	682	NUM
cblr-1780	494	5	.	.	PUNCT
cblr-1780	495	1	110	110	NUM
cblr-1780	495	2	bebchuk	bebchuk	PROPN
cblr-1780	495	3	&	&	CCONJ
cblr-1780	495	4	jackson	jackson	PROPN
cblr-1780	495	5	,	,	PUNCT
cblr-1780	495	6	shining	shine	VERB
cblr-1780	495	7	light	light	NOUN
cblr-1780	495	8	,	,	PUNCT
cblr-1780	495	9	supra	supra	PROPN
cblr-1780	495	10	note	note	NOUN
cblr-1780	495	11	27	27	NUM
cblr-1780	495	12	,	,	PUNCT
cblr-1780	495	13	at	at	ADP
cblr-1780	495	14	947	947	NUM
cblr-1780	495	15	.	.	SYM
cblr-1780	495	16	111	111	NUM
cblr-1780	496	1	i	i	PROPN
cblr-1780	496	2	d.	d.	NOUN
cblr-1780	496	3	at	at	ADP
cblr-1780	496	4	948	948	NUM
cblr-1780	496	5	.	.	PUNCT
cblr-1780	497	1	this	this	PRON
cblr-1780	497	2	is	be	AUX
cblr-1780	497	3	,	,	PUNCT
cblr-1780	497	4	again	again	ADV
cblr-1780	497	5	,	,	PUNCT
cblr-1780	497	6	a	a	DET
cblr-1780	497	7	familiar	familiar	ADJ
cblr-1780	497	8	argument	argument	NOUN
cblr-1780	497	9	for	for	ADP
cblr-1780	497	10	a	a	DET
cblr-1780	497	11	mandatory	mandatory	ADJ
cblr-1780	497	12	disclosure	disclosure	NOUN
cblr-1780	497	13	regime	regime	NOUN
cblr-1780	497	14	,	,	PUNCT
cblr-1780	497	15	but	but	CCONJ
cblr-1780	497	16	,	,	PUNCT
cblr-1780	497	17	as	as	SCONJ
cblr-1780	497	18	others	other	NOUN
cblr-1780	497	19	have	have	AUX
cblr-1780	497	20	noted	note	VERB
cblr-1780	497	21	,	,	PUNCT
cblr-1780	497	22	there	there	PRON
cblr-1780	497	23	are	be	VERB
cblr-1780	497	24	less	less	ADV
cblr-1780	497	25	intrusive	intrusive	ADJ
cblr-1780	497	26	ways	way	NOUN
cblr-1780	497	27	of	of	ADP
cblr-1780	497	28	establishing	establish	VERB
cblr-1780	497	29	disclosure	disclosure	NOUN
cblr-1780	497	30	practices	practice	NOUN
cblr-1780	497	31	that	that	PRON
cblr-1780	497	32	facilitate	facilitate	VERB
cblr-1780	497	33	investor	investor	NOUN
cblr-1780	497	34	comparison	comparison	NOUN
cblr-1780	497	35	between	between	ADP
cblr-1780	497	36	companies	company	NOUN
cblr-1780	497	37	.	.	PUNCT
cblr-1780	498	1	easterbrook	easterbrook	PROPN
cblr-1780	498	2	&	&	CCONJ
cblr-1780	498	3	fischel	fischel	PROPN
cblr-1780	498	4	,	,	PUNCT
cblr-1780	498	5	supra	supra	PROPN
cblr-1780	498	6	note	note	NOUN
cblr-1780	498	7	109	109	NUM
cblr-1780	498	8	,	,	PUNCT
cblr-1780	498	9	at	at	ADP
cblr-1780	498	10	685–87	685–87	NUM
cblr-1780	498	11	(	(	PUNCT
cblr-1780	498	12	“	"	PUNCT
cblr-1780	498	13	mandatory	mandatory	ADJ
cblr-1780	498	14	disclosure	disclosure	NOUN
cblr-1780	498	15	rules	rule	NOUN
cblr-1780	498	16	promulgated	promulgate	VERB
cblr-1780	498	17	by	by	ADP
cblr-1780	498	18	the	the	DET
cblr-1780	498	19	government	government	NOUN
cblr-1780	498	20	are	be	AUX
cblr-1780	498	21	one	one	NUM
cblr-1780	498	22	means	mean	NOUN
cblr-1780	498	23	to	to	PART
cblr-1780	498	24	achieve	achieve	VERB
cblr-1780	498	25	standardization	standardization	NOUN
cblr-1780	498	26	,	,	PUNCT
cblr-1780	498	27	but	but	CCONJ
cblr-1780	498	28	it	it	PRON
cblr-1780	498	29	does	do	AUX
cblr-1780	498	30	not	not	PART
cblr-1780	498	31	follow	follow	VERB
cblr-1780	498	32	that	that	PRON
cblr-1780	498	33	mandatory	mandatory	ADJ
cblr-1780	498	34	disclosure	disclosure	NOUN
cblr-1780	498	35	is	be	AUX
cblr-1780	498	36	necessary	necessary	ADJ
cblr-1780	498	37	.	.	PUNCT
cblr-1780	499	1	markets	market	NOUN
cblr-1780	499	2	frequently	frequently	ADV
cblr-1780	499	3	devise	devise	VERB
cblr-1780	499	4	ingenious	ingenious	ADJ
cblr-1780	499	5	solutions	solution	NOUN
cblr-1780	499	6	to	to	ADP
cblr-1780	499	7	problems	problem	NOUN
cblr-1780	499	8	of	of	ADP
cblr-1780	499	9	information	information	NOUN
cblr-1780	499	10	.	.	PUNCT
cblr-1780	499	11	”	"	PUNCT
cblr-1780	499	12	)	)	PUNCT
cblr-1780	499	13	.	.	PUNCT
cblr-1780	500	1	paul	paul	PROPN
cblr-1780	500	2	mahoney	mahoney	PROPN
cblr-1780	500	3	has	have	AUX
cblr-1780	500	4	considered	consider	VERB
cblr-1780	500	5	in	in	ADP
cblr-1780	500	6	detail	detail	NOUN
cblr-1780	500	7	how	how	SCONJ
cblr-1780	500	8	securities	security	NOUN
cblr-1780	500	9	exchanges	exchange	NOUN
cblr-1780	500	10	have	have	VERB
cblr-1780	500	11	in	in	ADP
cblr-1780	500	12	the	the	DET
cblr-1780	500	13	past	past	NOUN
cblr-1780	500	14	,	,	PUNCT
cblr-1780	500	15	and	and	CCONJ
cblr-1780	500	16	could	could	AUX
cblr-1780	500	17	in	in	ADP
cblr-1780	500	18	future	future	NOUN
cblr-1780	500	19	,	,	PUNCT
cblr-1780	500	20	continue	continue	VERB
cblr-1780	500	21	to	to	PART
cblr-1780	500	22	play	play	VERB
cblr-1780	500	23	these	these	DET
cblr-1780	500	24	kinds	kind	NOUN
cblr-1780	500	25	of	of	ADP
cblr-1780	500	26	coordination	coordination	NOUN
cblr-1780	500	27	roles	role	NOUN
cblr-1780	500	28	without	without	ADP
cblr-1780	500	29	regulatory	regulatory	ADJ
cblr-1780	500	30	intervention	intervention	NOUN
cblr-1780	500	31	.	.	PUNCT
cblr-1780	501	1	paul	paul	PROPN
cblr-1780	501	2	g.	g.	PROPN
cblr-1780	501	3	mahoney	mahoney	PROPN
cblr-1780	501	4	,	,	PUNCT
cblr-1780	501	5	the	the	DET
cblr-1780	501	6	exchange	exchange	NOUN
cblr-1780	501	7	as	as	ADP
cblr-1780	501	8	regulator	regulator	NOUN
cblr-1780	501	9	,	,	PUNCT
cblr-1780	501	10	83	83	NUM
cblr-1780	501	11	va	va	NOUN
cblr-1780	501	12	.	.	PUNCT
cblr-1780	502	1	l.	l.	PROPN
cblr-1780	502	2	rev	rev	PROPN
cblr-1780	502	3	.	.	PROPN
cblr-1780	502	4	1453	1453	NUM
cblr-1780	502	5	(	(	PUNCT
cblr-1780	502	6	1997	1997	NUM
cblr-1780	502	7	)	)	PUNCT
cblr-1780	502	8	.	.	PUNCT
cblr-1780	503	1	112	112	NUM
cblr-1780	503	2	bebchuk	bebchuk	PROPN
cblr-1780	503	3	&	&	CCONJ
cblr-1780	503	4	jackson	jackson	PROPN
cblr-1780	503	5	,	,	PUNCT
cblr-1780	503	6	shining	shine	VERB
cblr-1780	503	7	light	light	NOUN
cblr-1780	503	8	,	,	PUNCT
cblr-1780	503	9	supra	supra	PROPN
cblr-1780	503	10	note	note	NOUN
cblr-1780	503	11	27	27	NUM
cblr-1780	503	12	,	,	PUNCT
cblr-1780	503	13	at	at	ADP
cblr-1780	503	14	948	948	NUM
cblr-1780	503	15	.	.	NOUN
cblr-1780	503	16	113	113	NUM
cblr-1780	503	17	i	i	PRON
cblr-1780	503	18	d.	d.	PROPN
cblr-1780	503	19	114	114	NUM
cblr-1780	503	20	such	such	ADJ
cblr-1780	503	21	evidence	evidence	NOUN
cblr-1780	503	22	might	might	AUX
cblr-1780	503	23	be	be	AUX
cblr-1780	503	24	provided	provide	VERB
cblr-1780	503	25	,	,	PUNCT
cblr-1780	503	26	for	for	ADP
cblr-1780	503	27	example	example	NOUN
cblr-1780	503	28	,	,	PUNCT
cblr-1780	503	29	by	by	ADP
cblr-1780	503	30	looking	look	VERB
cblr-1780	503	31	at	at	ADP
cblr-1780	503	32	the	the	DET
cblr-1780	503	33	disclosure	disclosure	NOUN
cblr-1780	503	34	practices	practice	NOUN
cblr-1780	503	35	of	of	ADP
cblr-1780	503	36	firms	firm	NOUN
cblr-1780	503	37	where	where	SCONJ
cblr-1780	503	38	there	there	PRON
cblr-1780	503	39	are	be	VERB
cblr-1780	503	40	sufficiently	sufficiently	ADV
cblr-1780	503	41	few	few	ADJ
cblr-1780	503	42	shareholders	shareholder	NOUN
cblr-1780	503	43	that	that	SCONJ
cblr-1780	503	44	collective	collective	ADJ
cblr-1780	503	45	action	action	NOUN
cblr-1780	503	46	problems	problem	NOUN
cblr-1780	503	47	are	be	AUX
cblr-1780	503	48	unlikely	unlikely	ADJ
cblr-1780	503	49	to	to	PART
cblr-1780	503	50	present	present	VERB
cblr-1780	503	51	a	a	DET
cblr-1780	503	52	bar	bar	NOUN
cblr-1780	503	53	to	to	ADP
cblr-1780	503	54	adopting	adopt	VERB
cblr-1780	503	55	otherwise	otherwise	ADV
cblr-1780	503	56	efficient	efficient	ADJ
cblr-1780	503	57	disclosure	disclosure	NOUN
cblr-1780	503	58	practices	practice	NOUN
cblr-1780	503	59	.	.	PUNCT
cblr-1780	504	1	guttentag	guttentag	NOUN
cblr-1780	504	2	–	–	PUNCT
cblr-1780	504	3	final	final	ADJ
cblr-1780	504	4	no	no	NOUN
cblr-1780	504	5	.	.	PUNCT
cblr-1780	505	1	3:593	3:593	NUM
cblr-1780	505	2	]	]	PUNCT
cblr-1780	505	3	on	on	ADP
cblr-1780	505	4	political	political	ADJ
cblr-1780	505	5	spending	spending	NOUN
cblr-1780	505	6	disclosure	disclosure	NOUN
cblr-1780	505	7	629	629	NUM
cblr-1780	505	8	disproportionately	disproportionately	ADV
cblr-1780	505	9	likely	likely	ADJ
cblr-1780	505	10	to	to	PART
cblr-1780	505	11	engage	engage	VERB
cblr-1780	505	12	in	in	ADP
cblr-1780	505	13	political	political	ADJ
cblr-1780	505	14	spending	spending	NOUN
cblr-1780	505	15	that	that	PRON
cblr-1780	505	16	is	be	AUX
cblr-1780	505	17	inconsistent	inconsistent	ADJ
cblr-1780	505	18	with	with	ADP
cblr-1780	505	19	shareholder	shareholder	NOUN
cblr-1780	505	20	interests	interest	NOUN
cblr-1780	505	21	.	.	PUNCT
cblr-1780	505	22	”115	”115	PROPN
cblr-1780	505	23	bebchuk	bebchuk	PROPN
cblr-1780	505	24	and	and	CCONJ
cblr-1780	505	25	jackson	jackson	PROPN
cblr-1780	505	26	are	be	AUX
cblr-1780	505	27	correct	correct	ADJ
cblr-1780	505	28	to	to	PART
cblr-1780	505	29	observe	observe	VERB
cblr-1780	505	30	that	that	SCONJ
cblr-1780	505	31	there	there	PRON
cblr-1780	505	32	are	be	VERB
cblr-1780	505	33	often	often	ADV
cblr-1780	505	34	limitations	limitation	NOUN
cblr-1780	505	35	to	to	ADP
cblr-1780	505	36	private	private	ADJ
cblr-1780	505	37	ordering	ordering	NOUN
cblr-1780	505	38	in	in	ADP
cblr-1780	505	39	the	the	DET
cblr-1780	505	40	context	context	NOUN
cblr-1780	505	41	of	of	ADP
cblr-1780	505	42	public	public	ADJ
cblr-1780	505	43	company	company	NOUN
cblr-1780	505	44	disclosures	disclosure	NOUN
cblr-1780	505	45	,	,	PUNCT
cblr-1780	505	46	but	but	CCONJ
cblr-1780	505	47	situating	situate	VERB
cblr-1780	505	48	such	such	ADJ
cblr-1780	505	49	claims	claim	NOUN
cblr-1780	505	50	more	more	ADV
cblr-1780	505	51	precisely	precisely	ADV
cblr-1780	505	52	in	in	ADP
cblr-1780	505	53	the	the	DET
cblr-1780	505	54	context	context	NOUN
cblr-1780	505	55	of	of	ADP
cblr-1780	505	56	market	market	NOUN
cblr-1780	505	57	failure	failure	NOUN
cblr-1780	505	58	arguments	argument	NOUN
cblr-1780	505	59	for	for	ADP
cblr-1780	505	60	mandatory	mandatory	ADJ
cblr-1780	505	61	disclosure	disclosure	NOUN
cblr-1780	505	62	regulation	regulation	NOUN
cblr-1780	505	63	would	would	AUX
cblr-1780	505	64	make	make	VERB
cblr-1780	505	65	this	this	DET
cblr-1780	505	66	aspect	aspect	NOUN
cblr-1780	505	67	of	of	ADP
cblr-1780	505	68	their	their	PRON
cblr-1780	505	69	analysis	analysis	NOUN
cblr-1780	505	70	more	more	ADV
cblr-1780	505	71	compelling.116	compelling.116	VERB
cblr-1780	505	72	the	the	DET
cblr-1780	505	73	second	second	ADJ
cblr-1780	505	74	instance	instance	NOUN
cblr-1780	505	75	in	in	ADP
cblr-1780	505	76	which	which	PRON
cblr-1780	505	77	bebchuk	bebchuk	NOUN
cblr-1780	505	78	and	and	CCONJ
cblr-1780	505	79	jackson	jackson	PROPN
cblr-1780	505	80	offer	offer	VERB
cblr-1780	505	81	a	a	DET
cblr-1780	505	82	more	more	ADV
cblr-1780	505	83	fundamental	fundamental	ADJ
cblr-1780	505	84	economic	economic	ADJ
cblr-1780	505	85	justification	justification	NOUN
cblr-1780	505	86	for	for	ADP
cblr-1780	505	87	requiring	require	VERB
cblr-1780	505	88	political	political	ADJ
cblr-1780	505	89	spending	spending	NOUN
cblr-1780	505	90	disclosure	disclosure	NOUN
cblr-1780	505	91	by	by	ADP
cblr-1780	505	92	public	public	ADJ
cblr-1780	505	93	companies	company	NOUN
cblr-1780	505	94	comes	come	VERB
cblr-1780	505	95	by	by	ADP
cblr-1780	505	96	implication	implication	NOUN
cblr-1780	505	97	from	from	ADP
cblr-1780	505	98	their	their	PRON
cblr-1780	505	99	emphasis	emphasis	NOUN
cblr-1780	505	100	on	on	ADP
cblr-1780	505	101	similarities	similarity	NOUN
cblr-1780	505	102	between	between	ADP
cblr-1780	505	103	political	political	ADJ
cblr-1780	505	104	spending	spending	NOUN
cblr-1780	505	105	and	and	CCONJ
cblr-1780	505	106	executive	executive	ADJ
cblr-1780	505	107	compensation	compensation	NOUN
cblr-1780	505	108	.	.	PUNCT
cblr-1780	506	1	presumably	presumably	ADV
cblr-1780	506	2	bebchuk	bebchuk	PROPN
cblr-1780	506	3	and	and	CCONJ
cblr-1780	506	4	jackson	jackson	PROPN
cblr-1780	506	5	are	be	AUX
cblr-1780	506	6	relying	rely	VERB
cblr-1780	506	7	on	on	ADP
cblr-1780	506	8	justifications	justification	NOUN
cblr-1780	506	9	for	for	ADP
cblr-1780	506	10	the	the	DET
cblr-1780	506	11	mandatory	mandatory	ADJ
cblr-1780	506	12	disclosure	disclosure	NOUN
cblr-1780	506	13	of	of	ADP
cblr-1780	506	14	executive	executive	ADJ
cblr-1780	506	15	compensation	compensation	NOUN
cblr-1780	506	16	arrangements	arrangement	NOUN
cblr-1780	506	17	.	.	PUNCT
cblr-1780	507	1	bebchuk	bebchuk	PROPN
cblr-1780	507	2	is	be	AUX
cblr-1780	507	3	,	,	PUNCT
cblr-1780	507	4	for	for	ADP
cblr-1780	507	5	example	example	NOUN
cblr-1780	507	6	,	,	PUNCT
cblr-1780	507	7	the	the	DET
cblr-1780	507	8	co	co	NOUN
cblr-1780	507	9	-	-	NOUN
cblr-1780	507	10	author	author	NOUN
cblr-1780	507	11	with	with	ADP
cblr-1780	507	12	jesse	jesse	PROPN
cblr-1780	507	13	fried	fry	VERB
cblr-1780	507	14	of	of	ADP
cblr-1780	507	15	the	the	DET
cblr-1780	507	16	highly	highly	ADV
cblr-1780	507	17	influential	influential	ADJ
cblr-1780	507	18	book	book	NOUN
cblr-1780	507	19	on	on	ADP
cblr-1780	507	20	market	market	NOUN
cblr-1780	507	21	failures	failure	NOUN
cblr-1780	507	22	associated	associate	VERB
cblr-1780	507	23	with	with	ADP
cblr-1780	507	24	executive	executive	ADJ
cblr-1780	507	25	compensation	compensation	NOUN
cblr-1780	507	26	at	at	ADP
cblr-1780	507	27	public	public	ADJ
cblr-1780	507	28	firms	firm	NOUN
cblr-1780	507	29	,	,	PUNCT
cblr-1780	507	30	pay	pay	VERB
cblr-1780	507	31	without	without	ADP
cblr-1780	507	32	performance	performance	NOUN
cblr-1780	507	33	:	:	PUNCT
cblr-1780	507	34	the	the	DET
cblr-1780	507	35	unfulfilled	unfulfilled	ADJ
cblr-1780	507	36	promise	promise	NOUN
cblr-1780	507	37	of	of	ADP
cblr-1780	507	38	executive	executive	NOUN
cblr-1780	507	39	compensation.117	compensation.117	VERB
cblr-1780	507	40	in	in	ADP
cblr-1780	507	41	pay	pay	NOUN
cblr-1780	507	42	without	without	ADP
cblr-1780	507	43	performance	performance	NOUN
cblr-1780	507	44	,	,	PUNCT
cblr-1780	507	45	bebchuk	bebchuk	NOUN
cblr-1780	507	46	and	and	CCONJ
cblr-1780	507	47	fried	fry	VERB
cblr-1780	507	48	argue	argue	VERB
cblr-1780	507	49	that	that	SCONJ
cblr-1780	507	50	disclosure	disclosure	NOUN
cblr-1780	507	51	can	can	AUX
cblr-1780	507	52	limit	limit	VERB
cblr-1780	507	53	excessive	excessive	ADJ
cblr-1780	507	54	executive	executive	ADJ
cblr-1780	507	55	compensation	compensation	NOUN
cblr-1780	507	56	,	,	PUNCT
cblr-1780	507	57	because	because	SCONJ
cblr-1780	507	58	“	"	PUNCT
cblr-1780	507	59	[	[	X
cblr-1780	507	60	e]verything	e]verythe	VERB
cblr-1780	507	61	else	else	ADV
cblr-1780	507	62	being	be	AUX
cblr-1780	507	63	equal	equal	ADJ
cblr-1780	507	64	,	,	PUNCT
cblr-1780	507	65	we	we	PRON
cblr-1780	507	66	believe	believe	VERB
cblr-1780	507	67	,	,	PUNCT
cblr-1780	507	68	increased	increase	VERB
cblr-1780	507	69	transparency	transparency	NOUN
cblr-1780	507	70	should	should	AUX
cblr-1780	507	71	operate	operate	VERB
cblr-1780	507	72	to	to	PART
cblr-1780	507	73	constrain	constrain	VERB
cblr-1780	507	74	pay	pay	NOUN
cblr-1780	507	75	.	.	PUNCT
cblr-1780	507	76	”118	”118	VERB
cblr-1780	507	77	a	a	DET
cblr-1780	507	78	similar	similar	ADJ
cblr-1780	507	79	argument	argument	NOUN
cblr-1780	507	80	about	about	ADP
cblr-1780	507	81	the	the	DET
cblr-1780	507	82	prophylactic	prophylactic	ADJ
cblr-1780	507	83	benefits	benefit	NOUN
cblr-1780	507	84	of	of	ADP
cblr-1780	507	85	the	the	DET
cblr-1780	507	86	mandatory	mandatory	ADJ
cblr-1780	507	87	disclosure	disclosure	NOUN
cblr-1780	507	88	of	of	ADP
cblr-1780	507	89	political	political	ADJ
cblr-1780	507	90	spending	spending	NOUN
cblr-1780	507	91	is	be	AUX
cblr-1780	507	92	presumably	presumably	ADV
cblr-1780	507	93	made	make	VERB
cblr-1780	507	94	when	when	SCONJ
cblr-1780	507	95	drawing	draw	VERB
cblr-1780	507	96	a	a	DET
cblr-1780	507	97	parallel	parallel	NOUN
cblr-1780	507	98	between	between	ADP
cblr-1780	507	99	political	political	ADJ
cblr-1780	507	100	spending	spending	NOUN
cblr-1780	507	101	and	and	CCONJ
cblr-1780	507	102	executive	executive	NOUN
cblr-1780	507	103	compensation	compensation	NOUN
cblr-1780	507	104	.	.	PUNCT
cblr-1780	508	1	again	again	ADV
cblr-1780	508	2	,	,	PUNCT
cblr-1780	508	3	bebchuk	bebchuk	PROPN
cblr-1780	508	4	and	and	CCONJ
cblr-1780	508	5	jackson	jackson	PROPN
cblr-1780	508	6	are	be	AUX
cblr-1780	508	7	right	right	ADJ
cblr-1780	508	8	to	to	PART
cblr-1780	508	9	reach	reach	VERB
cblr-1780	508	10	beyond	beyond	ADP
cblr-1780	508	11	an	an	DET
cblr-1780	508	12	argument	argument	NOUN
cblr-1780	508	13	by	by	ADP
cblr-1780	508	14	analogy	analogy	NOUN
cblr-1780	508	15	or	or	CCONJ
cblr-1780	508	16	expressive	expressive	ADJ
cblr-1780	508	17	investor	investor	NOUN
cblr-1780	508	18	protection	protection	NOUN
cblr-1780	508	19	to	to	PART
cblr-1780	508	20	justify	justify	VERB
cblr-1780	508	21	requiring	require	VERB
cblr-1780	508	22	public	public	ADJ
cblr-1780	508	23	companies	company	NOUN
cblr-1780	508	24	to	to	PART
cblr-1780	508	25	disclose	disclose	VERB
cblr-1780	508	26	political	political	ADJ
cblr-1780	508	27	115	115	NUM
cblr-1780	508	28	bebchuk	bebchuk	NOUN
cblr-1780	508	29	&	&	CCONJ
cblr-1780	508	30	jackson	jackson	PROPN
cblr-1780	508	31	,	,	PUNCT
cblr-1780	508	32	shining	shine	VERB
cblr-1780	508	33	light	light	NOUN
cblr-1780	508	34	,	,	PUNCT
cblr-1780	508	35	supra	supra	PROPN
cblr-1780	508	36	note	note	NOUN
cblr-1780	508	37	27	27	NUM
cblr-1780	508	38	,	,	PUNCT
cblr-1780	508	39	at	at	ADP
cblr-1780	508	40	949	949	NUM
cblr-1780	508	41	(	(	PUNCT
cblr-1780	508	42	the	the	DET
cblr-1780	508	43	recalcitrant	recalcitrant	ADJ
cblr-1780	508	44	firms	firm	NOUN
cblr-1780	508	45	would	would	AUX
cblr-1780	508	46	likely	likely	ADV
cblr-1780	508	47	be	be	AUX
cblr-1780	508	48	the	the	DET
cblr-1780	508	49	firms	firm	NOUN
cblr-1780	508	50	that	that	PRON
cblr-1780	508	51	would	would	AUX
cblr-1780	508	52	have	have	VERB
cblr-1780	508	53	to	to	PART
cblr-1780	508	54	“	"	PUNCT
cblr-1780	508	55	reveal	reveal	VERB
cblr-1780	508	56	spending	spending	NOUN
cblr-1780	508	57	that	that	SCONJ
cblr-1780	508	58	shareholders	shareholder	NOUN
cblr-1780	508	59	would	would	AUX
cblr-1780	508	60	find	find	VERB
cblr-1780	508	61	objectionable	objectionable	ADJ
cblr-1780	508	62	.	.	PUNCT
cblr-1780	508	63	”	"	PUNCT
cblr-1780	508	64	)	)	PUNCT
cblr-1780	508	65	.	.	PUNCT
cblr-1780	509	1	116	116	NUM
cblr-1780	509	2	see	see	VERB
cblr-1780	509	3	infra	infra	NOUN
cblr-1780	509	4	part	part	NOUN
cblr-1780	509	5	iii	iii	NOUN
cblr-1780	509	6	and	and	CCONJ
cblr-1780	509	7	part	part	NOUN
cblr-1780	509	8	iv	iv	NUM
cblr-1780	509	9	.	.	PROPN
cblr-1780	509	10	117	117	NUM
cblr-1780	509	11	bebchuk	bebchuk	PROPN
cblr-1780	509	12	&	&	CCONJ
cblr-1780	509	13	fried	fried	PROPN
cblr-1780	509	14	,	,	PUNCT
cblr-1780	509	15	supra	supra	PROPN
cblr-1780	509	16	note	note	PROPN
cblr-1780	509	17	63	63	NUM
cblr-1780	509	18	at	at	ADP
cblr-1780	509	19	vii	vii	PROPN
cblr-1780	509	20	.	.	PROPN
cblr-1780	510	1	118	118	NUM
cblr-1780	511	1	i	i	PRON
cblr-1780	511	2	d.	d.	PROPN
cblr-1780	511	3	at	at	ADP
cblr-1780	511	4	72	72	NUM
cblr-1780	511	5	.	.	PUNCT
cblr-1780	512	1	see	see	VERB
cblr-1780	512	2	also	also	ADV
cblr-1780	512	3	i	i	PROPN
cblr-1780	512	4	d.	d.	PROPN
cblr-1780	512	5	at	at	ADP
cblr-1780	512	6	192	192	NUM
cblr-1780	512	7	(	(	PUNCT
cblr-1780	512	8	“	"	PUNCT
cblr-1780	512	9	the	the	DET
cblr-1780	512	10	main	main	ADJ
cblr-1780	512	11	aim	aim	NOUN
cblr-1780	512	12	of	of	ADP
cblr-1780	512	13	requiring	require	VERB
cblr-1780	512	14	disclosure	disclosure	NOUN
cblr-1780	512	15	of	of	ADP
cblr-1780	512	16	executive	executive	ADJ
cblr-1780	512	17	compensation	compensation	NOUN
cblr-1780	512	18	is	be	AUX
cblr-1780	512	19	not	not	PART
cblr-1780	512	20	to	to	PART
cblr-1780	512	21	enable	enable	VERB
cblr-1780	512	22	accurate	accurate	ADJ
cblr-1780	512	23	pricing	pricing	NOUN
cblr-1780	512	24	of	of	ADP
cblr-1780	512	25	the	the	DET
cblr-1780	512	26	firm	firm	NOUN
cblr-1780	512	27	’s	’s	PART
cblr-1780	512	28	securities	security	NOUN
cblr-1780	512	29	.	.	PUNCT
cblr-1780	513	1	rather	rather	ADV
cblr-1780	513	2	,	,	PUNCT
cblr-1780	513	3	this	this	DET
cblr-1780	513	4	disclosure	disclosure	NOUN
cblr-1780	513	5	is	be	AUX
cblr-1780	513	6	primarily	primarily	ADV
cblr-1780	513	7	intended	intend	VERB
cblr-1780	513	8	to	to	PART
cblr-1780	513	9	provide	provide	VERB
cblr-1780	513	10	some	some	DET
cblr-1780	513	11	check	check	NOUN
cblr-1780	513	12	on	on	ADP
cblr-1780	513	13	arrangements	arrangement	NOUN
cblr-1780	513	14	that	that	PRON
cblr-1780	513	15	are	be	AUX
cblr-1780	513	16	too	too	ADV
cblr-1780	513	17	favorable	favorable	ADJ
cblr-1780	513	18	to	to	ADP
cblr-1780	513	19	executives	executive	NOUN
cblr-1780	513	20	.	.	PUNCT
cblr-1780	513	21	”	"	PUNCT
cblr-1780	513	22	)	)	PUNCT
cblr-1780	513	23	.	.	PUNCT
cblr-1780	514	1	guttentag	guttentag	NOUN
cblr-1780	514	2	–	–	PUNCT
cblr-1780	514	3	final	final	ADJ
cblr-1780	514	4	630	630	NUM
cblr-1780	514	5	columbia	columbia	PROPN
cblr-1780	514	6	business	business	NOUN
cblr-1780	514	7	law	law	PROPN
cblr-1780	514	8	review	review	NOUN
cblr-1780	515	1	[	[	X
cblr-1780	515	2	vol	vol	NOUN
cblr-1780	515	3	.	.	NOUN
cblr-1780	515	4	2014	2014	NUM
cblr-1780	515	5	spending	spending	NOUN
cblr-1780	515	6	.	.	PUNCT
cblr-1780	516	1	however	however	ADV
cblr-1780	516	2	,	,	PUNCT
cblr-1780	516	3	the	the	DET
cblr-1780	516	4	bebchuk	bebchuk	PROPN
cblr-1780	516	5	and	and	CCONJ
cblr-1780	516	6	jackson	jackson	PROPN
cblr-1780	516	7	analysis	analysis	NOUN
cblr-1780	516	8	could	could	AUX
cblr-1780	516	9	be	be	AUX
cblr-1780	516	10	improved	improve	VERB
cblr-1780	516	11	by	by	ADP
cblr-1780	516	12	situating	situate	VERB
cblr-1780	516	13	their	their	PRON
cblr-1780	516	14	argument	argument	NOUN
cblr-1780	516	15	in	in	ADP
cblr-1780	516	16	the	the	DET
cblr-1780	516	17	context	context	NOUN
cblr-1780	516	18	of	of	ADP
cblr-1780	516	19	the	the	DET
cblr-1780	516	20	broader	broad	ADJ
cblr-1780	516	21	scholarly	scholarly	ADJ
cblr-1780	516	22	debate	debate	NOUN
cblr-1780	516	23	on	on	ADP
cblr-1780	516	24	why	why	SCONJ
cblr-1780	516	25	firms	firm	NOUN
cblr-1780	516	26	should	should	AUX
cblr-1780	516	27	be	be	AUX
cblr-1780	516	28	required	require	VERB
cblr-1780	516	29	to	to	PART
cblr-1780	516	30	adopt	adopt	VERB
cblr-1780	516	31	certain	certain	ADJ
cblr-1780	516	32	disclosure	disclosure	NOUN
cblr-1780	516	33	policies	policy	NOUN
cblr-1780	516	34	.	.	PUNCT
cblr-1780	517	1	such	such	DET
cblr-1780	517	2	an	an	DET
cblr-1780	517	3	analysis	analysis	NOUN
cblr-1780	517	4	is	be	AUX
cblr-1780	517	5	provided	provide	VERB
cblr-1780	517	6	next	next	ADV
cblr-1780	517	7	.	.	PUNCT
cblr-1780	518	1	iii	iii	X
cblr-1780	518	2	.	.	PUNCT
cblr-1780	519	1	a	a	DET
cblr-1780	519	2	general	general	ADJ
cblr-1780	519	3	theory	theory	NOUN
cblr-1780	519	4	of	of	ADP
cblr-1780	519	5	how	how	SCONJ
cblr-1780	519	6	to	to	PART
cblr-1780	519	7	evaluate	evaluate	VERB
cblr-1780	519	8	a	a	DET
cblr-1780	519	9	topic	topic	NOUN
cblr-1780	519	10	-	-	PUNCT
cblr-1780	519	11	specific	specific	ADJ
cblr-1780	519	12	disclosure	disclosure	NOUN
cblr-1780	519	13	requirement	requirement	NOUN
cblr-1780	519	14	this	this	DET
cblr-1780	519	15	section	section	NOUN
cblr-1780	519	16	extends	extend	VERB
cblr-1780	519	17	research	research	NOUN
cblr-1780	519	18	on	on	ADP
cblr-1780	519	19	public	public	ADJ
cblr-1780	519	20	company	company	NOUN
cblr-1780	519	21	disclosure	disclosure	NOUN
cblr-1780	519	22	regulation	regulation	NOUN
cblr-1780	519	23	to	to	PART
cblr-1780	519	24	develop	develop	VERB
cblr-1780	519	25	a	a	DET
cblr-1780	519	26	new	new	ADJ
cblr-1780	519	27	method	method	NOUN
cblr-1780	519	28	to	to	PART
cblr-1780	519	29	determine	determine	VERB
cblr-1780	519	30	when	when	SCONJ
cblr-1780	519	31	information	information	NOUN
cblr-1780	519	32	regarding	regard	VERB
cblr-1780	519	33	a	a	DET
cblr-1780	519	34	specific	specific	ADJ
cblr-1780	519	35	topic	topic	NOUN
cblr-1780	519	36	should	should	AUX
cblr-1780	519	37	be	be	AUX
cblr-1780	519	38	subject	subject	ADJ
cblr-1780	519	39	to	to	ADP
cblr-1780	519	40	a	a	DET
cblr-1780	519	41	mandatory	mandatory	ADJ
cblr-1780	519	42	disclosure	disclosure	NOUN
cblr-1780	519	43	requirement	requirement	NOUN
cblr-1780	519	44	.	.	PUNCT
cblr-1780	520	1	the	the	DET
cblr-1780	520	2	method	method	NOUN
cblr-1780	520	3	i	i	PRON
cblr-1780	520	4	propose	propose	VERB
cblr-1780	520	5	addresses	address	VERB
cblr-1780	520	6	two	two	NUM
cblr-1780	520	7	questions	question	NOUN
cblr-1780	520	8	.	.	PUNCT
cblr-1780	521	1	the	the	DET
cblr-1780	521	2	first	first	ADJ
cblr-1780	521	3	question	question	NOUN
cblr-1780	521	4	addressed	address	VERB
cblr-1780	521	5	is	be	AUX
cblr-1780	521	6	where	where	SCONJ
cblr-1780	521	7	the	the	DET
cblr-1780	521	8	burden	burden	NOUN
cblr-1780	521	9	of	of	ADP
cblr-1780	521	10	proof	proof	NOUN
cblr-1780	521	11	should	should	AUX
cblr-1780	521	12	be	be	AUX
cblr-1780	521	13	placed	place	VERB
cblr-1780	521	14	when	when	SCONJ
cblr-1780	521	15	evaluating	evaluate	VERB
cblr-1780	521	16	a	a	DET
cblr-1780	521	17	topic	topic	NOUN
cblr-1780	521	18	-	-	PUNCT
cblr-1780	521	19	specific	specific	ADJ
cblr-1780	521	20	disclosure	disclosure	NOUN
cblr-1780	521	21	proposal	proposal	NOUN
cblr-1780	521	22	.	.	PUNCT
cblr-1780	522	1	the	the	DET
cblr-1780	522	2	second	second	ADJ
cblr-1780	522	3	question	question	NOUN
cblr-1780	522	4	addressed	address	VERB
cblr-1780	522	5	is	be	AUX
cblr-1780	522	6	what	what	PRON
cblr-1780	522	7	evidence	evidence	NOUN
cblr-1780	522	8	should	should	AUX
cblr-1780	522	9	be	be	AUX
cblr-1780	522	10	sufficient	sufficient	ADJ
cblr-1780	522	11	to	to	PART
cblr-1780	522	12	overcome	overcome	VERB
cblr-1780	522	13	such	such	DET
cblr-1780	522	14	a	a	DET
cblr-1780	522	15	presumption	presumption	NOUN
cblr-1780	522	16	.	.	PUNCT
cblr-1780	523	1	a.	a.	NOUN
cblr-1780	523	2	presumption	presumption	NOUN
cblr-1780	523	3	against	against	ADP
cblr-1780	523	4	regulatory	regulatory	ADJ
cblr-1780	523	5	intervention	intervention	NOUN
cblr-1780	523	6	the	the	DET
cblr-1780	523	7	first	first	ADJ
cblr-1780	523	8	question	question	NOUN
cblr-1780	523	9	i	i	PRON
cblr-1780	523	10	address	address	VERB
cblr-1780	523	11	regarding	regard	VERB
cblr-1780	523	12	a	a	DET
cblr-1780	523	13	topic	topic	NOUN
cblr-1780	523	14	-	-	PUNCT
cblr-1780	523	15	specific	specific	ADJ
cblr-1780	523	16	disclosure	disclosure	NOUN
cblr-1780	523	17	proposal	proposal	NOUN
cblr-1780	523	18	,	,	PUNCT
cblr-1780	523	19	such	such	ADJ
cblr-1780	523	20	as	as	ADP
cblr-1780	523	21	the	the	DET
cblr-1780	523	22	proposal	proposal	NOUN
cblr-1780	523	23	to	to	PART
cblr-1780	523	24	require	require	VERB
cblr-1780	523	25	disclosure	disclosure	NOUN
cblr-1780	523	26	of	of	ADP
cblr-1780	523	27	political	political	ADJ
cblr-1780	523	28	spending	spending	NOUN
cblr-1780	523	29	,	,	PUNCT
cblr-1780	523	30	is	be	AUX
cblr-1780	523	31	where	where	SCONJ
cblr-1780	523	32	the	the	DET
cblr-1780	523	33	burden	burden	NOUN
cblr-1780	523	34	of	of	ADP
cblr-1780	523	35	proof	proof	NOUN
cblr-1780	523	36	should	should	AUX
cblr-1780	523	37	be	be	AUX
cblr-1780	523	38	placed	place	VERB
cblr-1780	523	39	.	.	PUNCT
cblr-1780	524	1	one	one	PRON
cblr-1780	524	2	might	might	AUX
cblr-1780	524	3	argue	argue	VERB
cblr-1780	524	4	that	that	SCONJ
cblr-1780	524	5	the	the	DET
cblr-1780	524	6	presumption	presumption	NOUN
cblr-1780	524	7	should	should	AUX
cblr-1780	524	8	be	be	AUX
cblr-1780	524	9	in	in	ADP
cblr-1780	524	10	favor	favor	NOUN
cblr-1780	524	11	of	of	ADP
cblr-1780	524	12	imposing	impose	VERB
cblr-1780	524	13	a	a	DET
cblr-1780	524	14	disclosure	disclosure	NOUN
cblr-1780	524	15	requirement	requirement	NOUN
cblr-1780	524	16	,	,	PUNCT
cblr-1780	524	17	as	as	ADV
cblr-1780	524	18	long	long	ADV
cblr-1780	524	19	as	as	SCONJ
cblr-1780	524	20	there	there	PRON
cblr-1780	524	21	is	be	VERB
cblr-1780	524	22	some	some	DET
cblr-1780	524	23	evidence	evidence	NOUN
cblr-1780	524	24	that	that	SCONJ
cblr-1780	524	25	disclosure	disclosure	NOUN
cblr-1780	524	26	of	of	ADP
cblr-1780	524	27	the	the	DET
cblr-1780	524	28	information	information	NOUN
cblr-1780	524	29	would	would	AUX
cblr-1780	524	30	be	be	AUX
cblr-1780	524	31	of	of	ADP
cblr-1780	524	32	interest	interest	NOUN
cblr-1780	524	33	to	to	ADP
cblr-1780	524	34	a	a	DET
cblr-1780	524	35	reasonable	reasonable	ADJ
cblr-1780	524	36	investor	investor	NOUN
cblr-1780	524	37	and	and	CCONJ
cblr-1780	524	38	that	that	SCONJ
cblr-1780	524	39	the	the	DET
cblr-1780	524	40	costs	cost	NOUN
cblr-1780	524	41	of	of	ADP
cblr-1780	524	42	mandatory	mandatory	ADJ
cblr-1780	524	43	disclosure	disclosure	NOUN
cblr-1780	524	44	of	of	ADP
cblr-1780	524	45	the	the	DET
cblr-1780	524	46	information	information	NOUN
cblr-1780	524	47	in	in	ADP
cblr-1780	524	48	question	question	NOUN
cblr-1780	524	49	would	would	AUX
cblr-1780	524	50	be	be	AUX
cblr-1780	524	51	minimal.119	minimal.119	PROPN
cblr-1780	524	52	there	there	PRON
cblr-1780	524	53	are	be	VERB
cblr-1780	524	54	,	,	PUNCT
cblr-1780	524	55	however	however	ADV
cblr-1780	524	56	,	,	PUNCT
cblr-1780	524	57	five	five	NUM
cblr-1780	524	58	reasons	reason	NOUN
cblr-1780	524	59	to	to	PART
cblr-1780	524	60	start	start	VERB
cblr-1780	524	61	with	with	ADP
cblr-1780	524	62	a	a	DET
cblr-1780	524	63	strong	strong	ADJ
cblr-1780	524	64	presumption	presumption	NOUN
cblr-1780	524	65	against	against	ADP
cblr-1780	524	66	mandating	mandate	VERB
cblr-1780	524	67	the	the	DET
cblr-1780	524	68	disclosure	disclosure	NOUN
cblr-1780	524	69	of	of	ADP
cblr-1780	524	70	information	information	NOUN
cblr-1780	524	71	regarding	regard	VERB
cblr-1780	524	72	a	a	DET
cblr-1780	524	73	specific	specific	ADJ
cblr-1780	524	74	topic	topic	NOUN
cblr-1780	524	75	.	.	PUNCT
cblr-1780	525	1	these	these	DET
cblr-1780	525	2	five	five	NUM
cblr-1780	525	3	reasons	reason	NOUN
cblr-1780	525	4	are	be	AUX
cblr-1780	525	5	:	:	PUNCT
cblr-1780	525	6	(	(	PUNCT
cblr-1780	525	7	1	1	X
cblr-1780	525	8	)	)	PUNCT
cblr-1780	525	9	the	the	DET
cblr-1780	525	10	breadth	breadth	NOUN
cblr-1780	525	11	of	of	ADP
cblr-1780	525	12	the	the	DET
cblr-1780	525	13	119	119	NUM
cblr-1780	525	14	one	one	NUM
cblr-1780	525	15	advantage	advantage	NOUN
cblr-1780	525	16	of	of	ADP
cblr-1780	525	17	moving	move	VERB
cblr-1780	525	18	forward	forward	ADV
cblr-1780	525	19	with	with	ADP
cblr-1780	525	20	mandating	mandate	VERB
cblr-1780	525	21	disclosure	disclosure	NOUN
cblr-1780	525	22	is	be	AUX
cblr-1780	525	23	that	that	SCONJ
cblr-1780	525	24	doing	do	VERB
cblr-1780	525	25	so	so	ADV
cblr-1780	525	26	would	would	AUX
cblr-1780	525	27	likely	likely	ADV
cblr-1780	525	28	generate	generate	VERB
cblr-1780	525	29	information	information	NOUN
cblr-1780	525	30	,	,	PUNCT
cblr-1780	525	31	which	which	PRON
cblr-1780	525	32	could	could	AUX
cblr-1780	525	33	be	be	AUX
cblr-1780	525	34	useful	useful	ADJ
cblr-1780	525	35	in	in	ADP
cblr-1780	525	36	the	the	DET
cblr-1780	525	37	future	future	NOUN
cblr-1780	525	38	in	in	ADP
cblr-1780	525	39	improving	improve	VERB
cblr-1780	525	40	this	this	DET
cblr-1780	525	41	and	and	CCONJ
cblr-1780	525	42	other	other	ADJ
cblr-1780	525	43	disclosure	disclosure	NOUN
cblr-1780	525	44	interventions	intervention	NOUN
cblr-1780	525	45	.	.	PUNCT
cblr-1780	526	1	cf	cf	X
cblr-1780	526	2	.	.	PUNCT
cblr-1780	527	1	michael	michael	PROPN
cblr-1780	527	2	abramowicz	abramowicz	VERB
cblr-1780	527	3	et	et	PROPN
cblr-1780	527	4	al	al	PROPN
cblr-1780	527	5	.	.	PROPN
cblr-1780	527	6	,	,	PUNCT
cblr-1780	527	7	randomizing	randomize	VERB
cblr-1780	527	8	law	law	NOUN
cblr-1780	527	9	,	,	PUNCT
cblr-1780	527	10	159	159	NUM
cblr-1780	527	11	u.	u.	PROPN
cblr-1780	527	12	pa	pa	PROPN
cblr-1780	527	13	.	.	PUNCT
cblr-1780	527	14	l.	l.	PROPN
cblr-1780	527	15	rev	rev	PROPN
cblr-1780	527	16	.	.	PROPN
cblr-1780	527	17	929	929	NUM
cblr-1780	527	18	,	,	PUNCT
cblr-1780	527	19	929–30	929–30	NUM
cblr-1780	527	20	(	(	PUNCT
cblr-1780	527	21	2011	2011	NUM
cblr-1780	527	22	)	)	PUNCT
cblr-1780	527	23	(	(	PUNCT
cblr-1780	527	24	arguing	argue	VERB
cblr-1780	527	25	that	that	SCONJ
cblr-1780	527	26	,	,	PUNCT
cblr-1780	527	27	while	while	SCONJ
cblr-1780	527	28	much	much	ADJ
cblr-1780	527	29	can	can	AUX
cblr-1780	527	30	be	be	AUX
cblr-1780	527	31	learned	learn	VERB
cblr-1780	527	32	from	from	ADP
cblr-1780	527	33	experimenting	experiment	VERB
cblr-1780	527	34	with	with	ADP
cblr-1780	527	35	legal	legal	ADJ
cblr-1780	527	36	changes	change	NOUN
cblr-1780	527	37	,	,	PUNCT
cblr-1780	527	38	randomized	randomize	VERB
cblr-1780	527	39	trials	trial	NOUN
cblr-1780	527	40	produce	produce	VERB
cblr-1780	527	41	better	well	ADJ
cblr-1780	527	42	results	result	NOUN
cblr-1780	527	43	)	)	PUNCT
cblr-1780	527	44	.	.	PUNCT
cblr-1780	528	1	guttentag	guttentag	NOUN
cblr-1780	528	2	–	–	PUNCT
cblr-1780	528	3	final	final	ADJ
cblr-1780	528	4	no	no	NOUN
cblr-1780	528	5	.	.	PUNCT
cblr-1780	529	1	3:593	3:593	NUM
cblr-1780	529	2	]	]	PUNCT
cblr-1780	529	3	on	on	ADP
cblr-1780	529	4	political	political	ADJ
cblr-1780	529	5	spending	spending	NOUN
cblr-1780	529	6	disclosure	disclosure	NOUN
cblr-1780	529	7	631	631	NUM
cblr-1780	529	8	materiality	materiality	NOUN
cblr-1780	529	9	disclosure	disclosure	NOUN
cblr-1780	529	10	obligation	obligation	NOUN
cblr-1780	529	11	already	already	ADV
cblr-1780	529	12	imposed	impose	VERB
cblr-1780	529	13	on	on	ADP
cblr-1780	529	14	all	all	DET
cblr-1780	529	15	public	public	ADJ
cblr-1780	529	16	companies,120	companies,120	PUNCT
cblr-1780	529	17	(	(	PUNCT
cblr-1780	529	18	2	2	X
cblr-1780	529	19	)	)	PUNCT
cblr-1780	529	20	the	the	DET
cblr-1780	529	21	heterogeneity	heterogeneity	NOUN
cblr-1780	529	22	among	among	ADP
cblr-1780	529	23	firms	firm	NOUN
cblr-1780	529	24	subject	subject	ADJ
cblr-1780	529	25	to	to	ADP
cblr-1780	529	26	the	the	DET
cblr-1780	529	27	public	public	ADJ
cblr-1780	529	28	company	company	NOUN
cblr-1780	529	29	mandatory	mandatory	ADJ
cblr-1780	529	30	disclosure	disclosure	NOUN
cblr-1780	529	31	regime,121	regime,121	VERB
cblr-1780	529	32	(	(	PUNCT
cblr-1780	529	33	3	3	X
cblr-1780	529	34	)	)	PUNCT
cblr-1780	529	35	the	the	DET
cblr-1780	529	36	ease	ease	NOUN
cblr-1780	529	37	with	with	ADP
cblr-1780	529	38	which	which	PRON
cblr-1780	529	39	firms	firm	NOUN
cblr-1780	529	40	can	can	AUX
cblr-1780	529	41	avoid	avoid	VERB
cblr-1780	529	42	public	public	ADJ
cblr-1780	529	43	company	company	NOUN
cblr-1780	529	44	reporting,122	reporting,122	PROPN
cblr-1780	529	45	(	(	PUNCT
cblr-1780	529	46	4	4	X
cblr-1780	529	47	)	)	PUNCT
cblr-1780	529	48	the	the	DET
cblr-1780	529	49	availability	availability	NOUN
cblr-1780	529	50	of	of	ADP
cblr-1780	529	51	private	private	ADJ
cblr-1780	529	52	ordering	ordering	NOUN
cblr-1780	529	53	to	to	PART
cblr-1780	529	54	establish	establish	VERB
cblr-1780	529	55	firm	firm	ADJ
cblr-1780	529	56	-	-	PUNCT
cblr-1780	529	57	specific	specific	ADJ
cblr-1780	529	58	disclosure	disclosure	NOUN
cblr-1780	529	59	obligations,123	obligations,123	PROPN
cblr-1780	530	1	and	and	CCONJ
cblr-1780	530	2	(	(	PUNCT
cblr-1780	530	3	5	5	X
cblr-1780	530	4	)	)	PUNCT
cblr-1780	530	5	challenges	challenge	NOUN
cblr-1780	530	6	to	to	ADP
cblr-1780	530	7	removing	remove	VERB
cblr-1780	530	8	disclosure	disclosure	NOUN
cblr-1780	530	9	requirements	requirement	NOUN
cblr-1780	530	10	once	once	ADV
cblr-1780	530	11	imposed.124	imposed.124	VERB
cblr-1780	530	12	each	each	PRON
cblr-1780	530	13	of	of	ADP
cblr-1780	530	14	these	these	DET
cblr-1780	530	15	reasons	reason	NOUN
cblr-1780	530	16	is	be	AUX
cblr-1780	530	17	considered	consider	VERB
cblr-1780	530	18	in	in	ADP
cblr-1780	530	19	greater	great	ADJ
cblr-1780	530	20	detail	detail	NOUN
cblr-1780	530	21	next	next	ADV
cblr-1780	530	22	.	.	PUNCT
cblr-1780	531	1	first	first	ADV
cblr-1780	531	2	,	,	PUNCT
cblr-1780	531	3	the	the	DET
cblr-1780	531	4	breadth	breadth	NOUN
cblr-1780	531	5	of	of	ADP
cblr-1780	531	6	the	the	DET
cblr-1780	531	7	materiality	materiality	NOUN
cblr-1780	531	8	disclosure	disclosure	NOUN
cblr-1780	531	9	obligation	obligation	NOUN
cblr-1780	531	10	already	already	ADV
cblr-1780	531	11	imposed	impose	VERB
cblr-1780	531	12	on	on	ADP
cblr-1780	531	13	public	public	ADJ
cblr-1780	531	14	companies	company	NOUN
cblr-1780	531	15	provides	provide	VERB
cblr-1780	531	16	at	at	ADP
cblr-1780	531	17	least	least	ADJ
cblr-1780	531	18	some	some	PRON
cblr-1780	531	19	justification	justification	NOUN
cblr-1780	531	20	for	for	ADP
cblr-1780	531	21	arguing	argue	VERB
cblr-1780	531	22	that	that	SCONJ
cblr-1780	531	23	any	any	DET
cblr-1780	531	24	topic	topic	NOUN
cblr-1780	531	25	-	-	PUNCT
cblr-1780	531	26	specific	specific	ADJ
cblr-1780	531	27	disclosure	disclosure	NOUN
cblr-1780	531	28	requirement	requirement	NOUN
cblr-1780	531	29	is	be	AUX
cblr-1780	531	30	superfluous	superfluous	ADJ
cblr-1780	531	31	.	.	PUNCT
cblr-1780	532	1	both	both	CCONJ
cblr-1780	532	2	the	the	DET
cblr-1780	532	3	securities	security	NOUN
cblr-1780	532	4	act	act	NOUN
cblr-1780	532	5	and	and	CCONJ
cblr-1780	532	6	the	the	DET
cblr-1780	532	7	exchange	exchange	NOUN
cblr-1780	532	8	act	act	NOUN
cblr-1780	532	9	contain	contain	VERB
cblr-1780	532	10	provisions	provision	NOUN
cblr-1780	532	11	requiring	require	VERB
cblr-1780	532	12	public	public	ADJ
cblr-1780	532	13	companies	company	NOUN
cblr-1780	532	14	,	,	PUNCT
cblr-1780	532	15	when	when	SCONJ
cblr-1780	532	16	making	make	VERB
cblr-1780	532	17	disclosures	disclosure	NOUN
cblr-1780	532	18	,	,	PUNCT
cblr-1780	532	19	to	to	PART
cblr-1780	532	20	always	always	ADV
cblr-1780	532	21	disclose	disclose	VERB
cblr-1780	532	22	“	"	PUNCT
cblr-1780	532	23	such	such	ADJ
cblr-1780	532	24	further	further	ADJ
cblr-1780	532	25	material	material	NOUN
cblr-1780	532	26	information	information	NOUN
cblr-1780	532	27	.	.	PUNCT
cblr-1780	532	28	.	.	PUNCT
cblr-1780	533	1	.	.	PUNCT
cblr-1780	534	1	as	as	SCONJ
cblr-1780	534	2	may	may	AUX
cblr-1780	534	3	be	be	AUX
cblr-1780	534	4	necessary	necessary	ADJ
cblr-1780	534	5	to	to	PART
cblr-1780	534	6	make	make	VERB
cblr-1780	534	7	the	the	DET
cblr-1780	534	8	required	require	VERB
cblr-1780	534	9	statements	statement	NOUN
cblr-1780	534	10	.	.	PUNCT
cblr-1780	534	11	.	.	PUNCT
cblr-1780	535	1	.	.	PUNCT
cblr-1780	536	1	not	not	PART
cblr-1780	536	2	misleading	mislead	VERB
cblr-1780	536	3	.	.	PUNCT
cblr-1780	537	1	”125	”125	PROPN
cblr-1780	538	1	the	the	DET
cblr-1780	538	2	supreme	supreme	PROPN
cblr-1780	538	3	court	court	PROPN
cblr-1780	538	4	in	in	ADP
cblr-1780	538	5	basic	basic	ADJ
cblr-1780	538	6	v.	v.	PROPN
cblr-1780	538	7	levinson	levinson	PROPN
cblr-1780	538	8	held	hold	VERB
cblr-1780	538	9	that	that	SCONJ
cblr-1780	538	10	the	the	DET
cblr-1780	538	11	term	term	NOUN
cblr-1780	538	12	material	material	NOUN
cblr-1780	538	13	as	as	SCONJ
cblr-1780	538	14	used	use	VERB
cblr-1780	538	15	in	in	ADP
cblr-1780	538	16	the	the	DET
cblr-1780	538	17	federal	federal	ADJ
cblr-1780	538	18	securities	security	NOUN
cblr-1780	538	19	statutes	statute	NOUN
cblr-1780	538	20	should	should	AUX
cblr-1780	538	21	be	be	AUX
cblr-1780	538	22	interpreted	interpret	VERB
cblr-1780	538	23	based	base	VERB
cblr-1780	538	24	on	on	ADP
cblr-1780	538	25	“	"	PUNCT
cblr-1780	538	26	the	the	DET
cblr-1780	538	27	significance	significance	NOUN
cblr-1780	538	28	the	the	DET
cblr-1780	538	29	reasonable	reasonable	ADJ
cblr-1780	538	30	investor	investor	NOUN
cblr-1780	538	31	would	would	AUX
cblr-1780	538	32	place	place	VERB
cblr-1780	538	33	on	on	ADP
cblr-1780	538	34	the	the	DET
cblr-1780	538	35	withheld	withhold	VERB
cblr-1780	538	36	or	or	CCONJ
cblr-1780	538	37	misrepresented	misrepresent	VERB
cblr-1780	538	38	information	information	NOUN
cblr-1780	538	39	.	.	PUNCT
cblr-1780	539	1	”126	”126	X
cblr-1780	539	2	120	120	NUM
cblr-1780	539	3	see	see	NOUN
cblr-1780	539	4	infra	infra	NOUN
cblr-1780	539	5	notes	note	VERB
cblr-1780	539	6	127–132	127–132	NUM
cblr-1780	539	7	and	and	CCONJ
cblr-1780	539	8	accompanying	accompany	VERB
cblr-1780	539	9	text	text	NOUN
cblr-1780	539	10	.	.	PUNCT
cblr-1780	540	1	121	121	NUM
cblr-1780	540	2	see	see	VERB
cblr-1780	540	3	infra	infra	NOUN
cblr-1780	540	4	notes	note	VERB
cblr-1780	540	5	133–137	133–137	NUM
cblr-1780	540	6	and	and	CCONJ
cblr-1780	540	7	accompanying	accompany	VERB
cblr-1780	540	8	text	text	NOUN
cblr-1780	540	9	.	.	PUNCT
cblr-1780	541	1	122	122	NUM
cblr-1780	541	2	see	see	VERB
cblr-1780	541	3	infra	infra	NOUN
cblr-1780	541	4	notes	note	VERB
cblr-1780	541	5	136–137	136–137	NUM
cblr-1780	541	6	and	and	CCONJ
cblr-1780	541	7	accompanying	accompany	VERB
cblr-1780	541	8	text	text	NOUN
cblr-1780	541	9	.	.	PUNCT
cblr-1780	542	1	123	123	NUM
cblr-1780	542	2	see	see	VERB
cblr-1780	542	3	infra	infra	NOUN
cblr-1780	542	4	note	note	VERB
cblr-1780	542	5	139	139	NUM
cblr-1780	542	6	and	and	CCONJ
cblr-1780	542	7	accompanying	accompany	VERB
cblr-1780	542	8	text	text	NOUN
cblr-1780	542	9	.	.	PUNCT
cblr-1780	543	1	124	124	NUM
cblr-1780	543	2	see	see	VERB
cblr-1780	543	3	infra	infra	NOUN
cblr-1780	543	4	notes	note	VERB
cblr-1780	543	5	141–142	141–142	NUM
cblr-1780	543	6	and	and	CCONJ
cblr-1780	543	7	accompanying	accompany	VERB
cblr-1780	543	8	text	text	NOUN
cblr-1780	543	9	.	.	PUNCT
cblr-1780	544	1	125	125	NUM
cblr-1780	544	2	17	17	NUM
cblr-1780	544	3	c.f.r	c.f.r	NOUN
cblr-1780	544	4	.	.	PUNCT
cblr-1780	545	1	§	§	PROPN
cblr-1780	545	2	230.408a	230.408a	NUM
cblr-1780	545	3	(	(	PUNCT
cblr-1780	545	4	2014	2014	NUM
cblr-1780	545	5	)	)	PUNCT
cblr-1780	545	6	(	(	PUNCT
cblr-1780	545	7	securities	security	NOUN
cblr-1780	545	8	act	act	VERB
cblr-1780	545	9	filings	filing	NOUN
cblr-1780	545	10	)	)	PUNCT
cblr-1780	545	11	;	;	PUNCT
cblr-1780	545	12	17	17	NUM
cblr-1780	545	13	c.f.r	c.f.r	NOUN
cblr-1780	545	14	.	.	PUNCT
cblr-1780	546	1	§	§	PROPN
cblr-1780	546	2	240.12b-20	240.12b-20	NUM
cblr-1780	546	3	(	(	PUNCT
cblr-1780	546	4	2014	2014	NUM
cblr-1780	546	5	)	)	PUNCT
cblr-1780	546	6	(	(	PUNCT
cblr-1780	546	7	exchange	exchange	NOUN
cblr-1780	546	8	act	act	PROPN
cblr-1780	546	9	filings	filing	NOUN
cblr-1780	546	10	)	)	PUNCT
cblr-1780	546	11	.	.	PUNCT
cblr-1780	547	1	this	this	DET
cblr-1780	547	2	requirement	requirement	NOUN
cblr-1780	547	3	echoes	echo	VERB
cblr-1780	547	4	president	president	PROPN
cblr-1780	547	5	franklin	franklin	PROPN
cblr-1780	547	6	d.	d.	PROPN
cblr-1780	547	7	roosevelt	roosevelt	PROPN
cblr-1780	547	8	’s	’s	PART
cblr-1780	547	9	call	call	VERB
cblr-1780	547	10	that	that	SCONJ
cblr-1780	547	11	“	"	PUNCT
cblr-1780	547	12	no	no	DET
cblr-1780	547	13	essentially	essentially	ADV
cblr-1780	547	14	important	important	ADJ
cblr-1780	547	15	element	element	NOUN
cblr-1780	547	16	attending	attend	VERB
cblr-1780	547	17	the	the	DET
cblr-1780	547	18	[	[	X
cblr-1780	547	19	issuance	issuance	NOUN
cblr-1780	547	20	of	of	ADP
cblr-1780	547	21	securities	security	NOUN
cblr-1780	547	22	]	]	PUNCT
cblr-1780	547	23	shall	shall	AUX
cblr-1780	547	24	be	be	AUX
cblr-1780	547	25	concealed	conceal	VERB
cblr-1780	547	26	from	from	ADP
cblr-1780	547	27	the	the	DET
cblr-1780	547	28	buying	buying	NOUN
cblr-1780	547	29	public	public	NOUN
cblr-1780	547	30	.	.	PUNCT
cblr-1780	547	31	”	"	PUNCT
cblr-1780	548	1	joel	joel	PROPN
cblr-1780	548	2	seligman	seligman	PROPN
cblr-1780	548	3	,	,	PUNCT
cblr-1780	548	4	the	the	DET
cblr-1780	548	5	transformation	transformation	NOUN
cblr-1780	548	6	of	of	ADP
cblr-1780	548	7	wall	wall	PROPN
cblr-1780	548	8	street	street	PROPN
cblr-1780	548	9	:	:	PUNCT
cblr-1780	548	10	a	a	DET
cblr-1780	548	11	history	history	NOUN
cblr-1780	548	12	of	of	ADP
cblr-1780	548	13	the	the	DET
cblr-1780	548	14	securities	securities	PROPN
cblr-1780	548	15	and	and	CCONJ
cblr-1780	548	16	exchange	exchange	PROPN
cblr-1780	548	17	commission	commission	PROPN
cblr-1780	548	18	and	and	CCONJ
cblr-1780	548	19	modern	modern	ADJ
cblr-1780	548	20	corporate	corporate	ADJ
cblr-1780	548	21	finance	finance	NOUN
cblr-1780	548	22	53	53	NUM
cblr-1780	548	23	(	(	PUNCT
cblr-1780	548	24	3d	3d	NUM
cblr-1780	548	25	ed	ed	NOUN
cblr-1780	548	26	.	.	PROPN
cblr-1780	548	27	2003	2003	NUM
cblr-1780	548	28	)	)	PUNCT
cblr-1780	548	29	(	(	PUNCT
cblr-1780	548	30	quoting	quote	VERB
cblr-1780	548	31	73	73	NUM
cblr-1780	548	32	cong	cong	NOUN
cblr-1780	548	33	.	.	PUNCT
cblr-1780	549	1	rec	rec	PROPN
cblr-1780	549	2	.	.	PROPN
cblr-1780	549	3	937	937	NUM
cblr-1780	549	4	,	,	PUNCT
cblr-1780	549	5	954	954	NUM
cblr-1780	549	6	(	(	PUNCT
cblr-1780	549	7	1933	1933	NUM
cblr-1780	549	8	)	)	PUNCT
cblr-1780	549	9	)	)	PUNCT
cblr-1780	549	10	.	.	PUNCT
cblr-1780	550	1	see	see	VERB
cblr-1780	550	2	also	also	ADV
cblr-1780	550	3	choi	choi	PROPN
cblr-1780	550	4	&	&	CCONJ
cblr-1780	550	5	pritchard	pritchard	PROPN
cblr-1780	550	6	,	,	PUNCT
cblr-1780	550	7	supra	supra	PROPN
cblr-1780	550	8	note	note	VERB
cblr-1780	550	9	87	87	NUM
cblr-1780	550	10	,	,	PUNCT
cblr-1780	550	11	at	at	ADP
cblr-1780	550	12	48–98	48–98	NUM
cblr-1780	550	13	;	;	PUNCT
cblr-1780	550	14	coffee	coffee	NOUN
cblr-1780	550	15	&	&	CCONJ
cblr-1780	550	16	sale	sale	PROPN
cblr-1780	550	17	,	,	PUNCT
cblr-1780	550	18	supra	supra	PROPN
cblr-1780	550	19	note	note	PROPN
cblr-1780	550	20	87	87	NUM
cblr-1780	550	21	,	,	PUNCT
cblr-1780	550	22	at	at	ADP
cblr-1780	550	23	943–77	943–77	NUM
cblr-1780	550	24	.	.	PUNCT
cblr-1780	551	1	but	but	CCONJ
cblr-1780	551	2	see	see	VERB
cblr-1780	551	3	bebchuk	bebchuk	PROPN
cblr-1780	551	4	&	&	CCONJ
cblr-1780	551	5	jackson	jackson	PROPN
cblr-1780	551	6	,	,	PUNCT
cblr-1780	551	7	who	who	PRON
cblr-1780	551	8	decides	decide	VERB
cblr-1780	551	9	,	,	PUNCT
cblr-1780	551	10	supra	supra	PROPN
cblr-1780	551	11	note	note	NOUN
cblr-1780	551	12	23	23	NUM
cblr-1780	551	13	,	,	PUNCT
cblr-1780	551	14	at	at	ADP
cblr-1780	551	15	87	87	NUM
cblr-1780	551	16	(	(	PUNCT
cblr-1780	551	17	“	"	PUNCT
cblr-1780	551	18	[	[	X
cblr-1780	551	19	t]here	t]here	NOUN
cblr-1780	551	20	is	be	AUX
cblr-1780	551	21	under	under	ADP
cblr-1780	551	22	current	current	ADJ
cblr-1780	551	23	corporate	corporate	ADJ
cblr-1780	551	24	law	law	NOUN
cblr-1780	551	25	.	.	PUNCT
cblr-1780	551	26	.	.	PUNCT
cblr-1780	551	27	.	.	PUNCT
cblr-1780	552	1	no	no	DET
cblr-1780	552	2	mandatory	mandatory	ADJ
cblr-1780	552	3	disclosure	disclosure	NOUN
cblr-1780	552	4	to	to	ADP
cblr-1780	552	5	investors	investor	NOUN
cblr-1780	552	6	[	[	X
cblr-1780	552	7	of	of	ADP
cblr-1780	552	8	corporate	corporate	ADJ
cblr-1780	552	9	political	political	ADJ
cblr-1780	552	10	speech	speech	NOUN
cblr-1780	552	11	decisions	decision	NOUN
cblr-1780	552	12	]	]	PUNCT
cblr-1780	552	13	.	.	PUNCT
cblr-1780	552	14	”	"	PUNCT
cblr-1780	552	15	)	)	PUNCT
cblr-1780	552	16	.	.	PUNCT
cblr-1780	553	1	126	126	NUM
cblr-1780	553	2	basic	basic	PROPN
cblr-1780	553	3	inc	inc	PROPN
cblr-1780	553	4	.	.	PROPN
cblr-1780	554	1	v.	v.	PROPN
cblr-1780	554	2	levinson	levinson	PROPN
cblr-1780	554	3	,	,	PUNCT
cblr-1780	554	4	485	485	NUM
cblr-1780	554	5	u.s	u.s	PROPN
cblr-1780	554	6	.	.	PROPN
cblr-1780	554	7	224	224	NUM
cblr-1780	554	8	,	,	PUNCT
cblr-1780	554	9	240	240	NUM
cblr-1780	554	10	(	(	PUNCT
cblr-1780	554	11	1988	1988	NUM
cblr-1780	554	12	)	)	PUNCT
cblr-1780	554	13	.	.	PUNCT
cblr-1780	555	1	guttentag	guttentag	NOUN
cblr-1780	555	2	–	–	PUNCT
cblr-1780	555	3	final	final	ADJ
cblr-1780	555	4	632	632	NUM
cblr-1780	555	5	columbia	columbia	PROPN
cblr-1780	555	6	business	business	NOUN
cblr-1780	555	7	law	law	PROPN
cblr-1780	555	8	review	review	NOUN
cblr-1780	556	1	[	[	X
cblr-1780	556	2	vol	vol	NOUN
cblr-1780	556	3	.	.	PUNCT
cblr-1780	556	4	2014	2014	NUM
cblr-1780	556	5	thus	thus	ADV
cblr-1780	556	6	,	,	PUNCT
cblr-1780	556	7	public	public	ADJ
cblr-1780	556	8	companies	company	NOUN
cblr-1780	556	9	already	already	ADV
cblr-1780	556	10	appear	appear	VERB
cblr-1780	556	11	to	to	PART
cblr-1780	556	12	be	be	AUX
cblr-1780	556	13	required	require	VERB
cblr-1780	556	14	to	to	PART
cblr-1780	556	15	disclose	disclose	VERB
cblr-1780	556	16	all	all	DET
cblr-1780	556	17	information	information	NOUN
cblr-1780	556	18	of	of	ADP
cblr-1780	556	19	interest	interest	NOUN
cblr-1780	556	20	to	to	ADP
cblr-1780	556	21	a	a	DET
cblr-1780	556	22	reasonable	reasonable	ADJ
cblr-1780	556	23	investor	investor	NOUN
cblr-1780	556	24	in	in	ADP
cblr-1780	556	25	many	many	ADJ
cblr-1780	556	26	circumstances	circumstance	NOUN
cblr-1780	556	27	.	.	PUNCT
cblr-1780	557	1	the	the	DET
cblr-1780	557	2	breadth	breadth	NOUN
cblr-1780	557	3	of	of	ADP
cblr-1780	557	4	the	the	DET
cblr-1780	557	5	materiality	materiality	NOUN
cblr-1780	557	6	disclosure	disclosure	NOUN
cblr-1780	557	7	obligation	obligation	NOUN
cblr-1780	557	8	might	might	AUX
cblr-1780	557	9	,	,	PUNCT
cblr-1780	557	10	in	in	ADP
cblr-1780	557	11	fact	fact	NOUN
cblr-1780	557	12	,	,	PUNCT
cblr-1780	557	13	appear	appear	VERB
cblr-1780	557	14	to	to	PART
cblr-1780	557	15	obviate	obviate	VERB
cblr-1780	557	16	the	the	DET
cblr-1780	557	17	need	need	NOUN
cblr-1780	557	18	for	for	ADP
cblr-1780	557	19	any	any	DET
cblr-1780	557	20	topicspecific	topicspecific	ADJ
cblr-1780	557	21	disclosure	disclosure	NOUN
cblr-1780	557	22	requirements.127	requirements.127	PROPN
cblr-1780	557	23	however	however	ADV
cblr-1780	557	24	,	,	PUNCT
cblr-1780	557	25	the	the	DET
cblr-1780	557	26	broad	broad	ADJ
cblr-1780	557	27	reach	reach	NOUN
cblr-1780	557	28	of	of	ADP
cblr-1780	557	29	the	the	DET
cblr-1780	557	30	materiality	materiality	NOUN
cblr-1780	557	31	disclosure	disclosure	NOUN
cblr-1780	557	32	obligation	obligation	NOUN
cblr-1780	557	33	does	do	AUX
cblr-1780	557	34	not	not	PART
cblr-1780	557	35	fully	fully	ADV
cblr-1780	557	36	dispense	dispense	VERB
cblr-1780	557	37	with	with	ADP
cblr-1780	557	38	the	the	DET
cblr-1780	557	39	need	need	NOUN
cblr-1780	557	40	for	for	ADP
cblr-1780	557	41	topic	topic	NOUN
cblr-1780	557	42	-	-	PUNCT
cblr-1780	557	43	specific	specific	ADJ
cblr-1780	557	44	disclosure	disclosure	NOUN
cblr-1780	557	45	requirements	requirement	NOUN
cblr-1780	557	46	for	for	ADP
cblr-1780	557	47	two	two	NUM
cblr-1780	557	48	reasons	reason	NOUN
cblr-1780	557	49	.	.	PUNCT
cblr-1780	558	1	first	first	ADV
cblr-1780	558	2	,	,	PUNCT
cblr-1780	558	3	there	there	PRON
cblr-1780	558	4	is	be	VERB
cblr-1780	558	5	a	a	DET
cblr-1780	558	6	fair	fair	ADJ
cblr-1780	558	7	degree	degree	NOUN
cblr-1780	558	8	of	of	ADP
cblr-1780	558	9	ambiguity	ambiguity	NOUN
cblr-1780	558	10	and	and	CCONJ
cblr-1780	558	11	uncertainty	uncertainty	NOUN
cblr-1780	558	12	in	in	ADP
cblr-1780	558	13	practice	practice	NOUN
cblr-1780	558	14	as	as	ADP
cblr-1780	558	15	to	to	ADP
cblr-1780	558	16	how	how	SCONJ
cblr-1780	558	17	to	to	PART
cblr-1780	558	18	apply	apply	VERB
cblr-1780	558	19	the	the	DET
cblr-1780	558	20	materiality	materiality	NOUN
cblr-1780	558	21	standard.128	standard.128	ADP
cblr-1780	558	22	one	one	NUM
cblr-1780	558	23	manifestation	manifestation	NOUN
cblr-1780	558	24	of	of	ADP
cblr-1780	558	25	this	this	DET
cblr-1780	558	26	ambiguity	ambiguity	NOUN
cblr-1780	558	27	and	and	CCONJ
cblr-1780	558	28	uncertainty	uncertainty	NOUN
cblr-1780	558	29	is	be	AUX
cblr-1780	558	30	that	that	SCONJ
cblr-1780	558	31	the	the	DET
cblr-1780	558	32	application	application	NOUN
cblr-1780	558	33	of	of	ADP
cblr-1780	558	34	the	the	DET
cblr-1780	558	35	materiality	materiality	NOUN
cblr-1780	558	36	standard	standard	NOUN
cblr-1780	558	37	by	by	ADP
cblr-1780	558	38	courts	court	NOUN
cblr-1780	558	39	tends	tend	VERB
cblr-1780	558	40	to	to	PART
cblr-1780	558	41	vary	vary	VERB
cblr-1780	558	42	by	by	ADP
cblr-1780	558	43	jurisdiction	jurisdiction	NOUN
cblr-1780	558	44	along	along	ADP
cblr-1780	558	45	many	many	ADJ
cblr-1780	558	46	dimensions.129	dimensions.129	PROPN
cblr-1780	558	47	the	the	DET
cblr-1780	558	48	use	use	NOUN
cblr-1780	558	49	of	of	ADP
cblr-1780	558	50	topic	topic	NOUN
cblr-1780	558	51	-	-	PUNCT
cblr-1780	558	52	specific	specific	ADJ
cblr-1780	558	53	disclosure	disclosure	NOUN
cblr-1780	558	54	127	127	NUM
cblr-1780	558	55	see	see	NOUN
cblr-1780	558	56	,	,	PUNCT
cblr-1780	558	57	e.g.	e.g.	ADV
cblr-1780	558	58	,	,	PUNCT
cblr-1780	558	59	atkins	atkins	PROPN
cblr-1780	558	60	,	,	PUNCT
cblr-1780	558	61	supra	supra	PROPN
cblr-1780	558	62	note	note	PROPN
cblr-1780	558	63	28	28	NUM
cblr-1780	558	64	,	,	PUNCT
cblr-1780	558	65	at	at	ADP
cblr-1780	558	66	364	364	NUM
cblr-1780	558	67	;	;	PUNCT
cblr-1780	559	1	j.w	j.w	PROPN
cblr-1780	559	2	.	.	PROPN
cblr-1780	559	3	verret	verret	PROPN
cblr-1780	559	4	,	,	PUNCT
cblr-1780	559	5	supra	supra	PROPN
cblr-1780	559	6	note	note	NOUN
cblr-1780	559	7	28	28	NUM
cblr-1780	559	8	,	,	PUNCT
cblr-1780	559	9	at	at	ADP
cblr-1780	559	10	453	453	NUM
cblr-1780	559	11	.	.	NOUN
cblr-1780	559	12	128	128	NUM
cblr-1780	559	13	to	to	PART
cblr-1780	559	14	address	address	VERB
cblr-1780	559	15	this	this	DET
cblr-1780	559	16	particular	particular	ADJ
cblr-1780	559	17	concern	concern	NOUN
cblr-1780	559	18	and	and	CCONJ
cblr-1780	559	19	as	as	ADP
cblr-1780	559	20	an	an	DET
cblr-1780	559	21	alternative	alternative	NOUN
cblr-1780	559	22	to	to	ADP
cblr-1780	559	23	introducing	introduce	VERB
cblr-1780	559	24	topic	topic	NOUN
cblr-1780	559	25	-	-	PUNCT
cblr-1780	559	26	specific	specific	ADJ
cblr-1780	559	27	disclosure	disclosure	NOUN
cblr-1780	559	28	requirements	requirement	NOUN
cblr-1780	559	29	,	,	PUNCT
cblr-1780	559	30	the	the	DET
cblr-1780	559	31	sec	sec	PROPN
cblr-1780	559	32	could	could	AUX
cblr-1780	559	33	also	also	ADV
cblr-1780	559	34	provide	provide	VERB
cblr-1780	559	35	guidance	guidance	NOUN
cblr-1780	559	36	as	as	ADP
cblr-1780	559	37	to	to	ADP
cblr-1780	559	38	what	what	PRON
cblr-1780	559	39	specific	specific	ADJ
cblr-1780	559	40	types	type	NOUN
cblr-1780	559	41	of	of	ADP
cblr-1780	559	42	information	information	NOUN
cblr-1780	559	43	are	be	AUX
cblr-1780	559	44	material	material	ADJ
cblr-1780	559	45	.	.	PUNCT
cblr-1780	560	1	the	the	DET
cblr-1780	560	2	sec	sec	PROPN
cblr-1780	560	3	has	have	AUX
cblr-1780	560	4	provided	provide	VERB
cblr-1780	560	5	such	such	ADJ
cblr-1780	560	6	guidance	guidance	NOUN
cblr-1780	560	7	in	in	ADP
cblr-1780	560	8	the	the	DET
cblr-1780	560	9	past	past	NOUN
cblr-1780	560	10	,	,	PUNCT
cblr-1780	560	11	as	as	ADP
cblr-1780	560	12	in	in	ADP
cblr-1780	560	13	the	the	DET
cblr-1780	560	14	case	case	NOUN
cblr-1780	560	15	of	of	ADP
cblr-1780	560	16	the	the	DET
cblr-1780	560	17	financial	financial	ADJ
cblr-1780	560	18	impact	impact	NOUN
cblr-1780	560	19	of	of	ADP
cblr-1780	560	20	climate	climate	NOUN
cblr-1780	560	21	change	change	NOUN
cblr-1780	560	22	,	,	PUNCT
cblr-1780	560	23	without	without	ADP
cblr-1780	560	24	altering	alter	VERB
cblr-1780	560	25	the	the	DET
cblr-1780	560	26	rule	rule	NOUN
cblr-1780	560	27	that	that	SCONJ
cblr-1780	560	28	all	all	DET
cblr-1780	560	29	material	material	NOUN
cblr-1780	560	30	information	information	NOUN
cblr-1780	560	31	should	should	AUX
cblr-1780	560	32	be	be	AUX
cblr-1780	560	33	disclosed	disclose	VERB
cblr-1780	560	34	.	.	PUNCT
cblr-1780	561	1	commission	commission	NOUN
cblr-1780	561	2	guidance	guidance	NOUN
cblr-1780	561	3	regarding	regard	VERB
cblr-1780	561	4	disclosure	disclosure	NOUN
cblr-1780	561	5	related	relate	VERB
cblr-1780	561	6	to	to	ADP
cblr-1780	561	7	climate	climate	NOUN
cblr-1780	561	8	change	change	NOUN
cblr-1780	561	9	,	,	PUNCT
cblr-1780	561	10	exchange	exchange	NOUN
cblr-1780	561	11	act	act	PROPN
cblr-1780	561	12	release	release	PROPN
cblr-1780	561	13	nos	nos	NOUN
cblr-1780	561	14	.	.	PROPN
cblr-1780	561	15	339106	339106	NUM
cblr-1780	561	16	,	,	PUNCT
cblr-1780	561	17	34	34	NUM
cblr-1780	561	18	-	-	SYM
cblr-1780	561	19	61469	61469	NUM
cblr-1780	561	20	,	,	PUNCT
cblr-1780	561	21	75	75	NUM
cblr-1780	561	22	fed	feed	VERB
cblr-1780	561	23	.	.	PUNCT
cblr-1780	562	1	reg	reg	PROPN
cblr-1780	562	2	.	.	PUNCT
cblr-1780	563	1	6290	6290	NUM
cblr-1780	563	2	,	,	PUNCT
cblr-1780	563	3	6291	6291	NUM
cblr-1780	563	4	,	,	PUNCT
cblr-1780	563	5	6296	6296	NUM
cblr-1780	563	6	(	(	PUNCT
cblr-1780	563	7	feb	feb	PROPN
cblr-1780	563	8	.	.	PROPN
cblr-1780	563	9	8	8	NUM
cblr-1780	563	10	,	,	PUNCT
cblr-1780	563	11	2010	2010	NUM
cblr-1780	563	12	)	)	PUNCT
cblr-1780	563	13	.	.	PUNCT
cblr-1780	564	1	129	129	NUM
cblr-1780	564	2	see	see	VERB
cblr-1780	564	3	,	,	PUNCT
cblr-1780	564	4	e.g.	e.g.	ADV
cblr-1780	564	5	,	,	PUNCT
cblr-1780	564	6	dale	dale	PROPN
cblr-1780	564	7	a.	a.	NOUN
cblr-1780	564	8	oesterle	oesterle	NOUN
cblr-1780	564	9	,	,	PUNCT
cblr-1780	564	10	the	the	DET
cblr-1780	564	11	overused	overused	ADJ
cblr-1780	564	12	and	and	CCONJ
cblr-1780	564	13	under	under	ADV
cblr-1780	564	14	-	-	PUNCT
cblr-1780	564	15	defined	define	VERB
cblr-1780	564	16	notion	notion	NOUN
cblr-1780	564	17	of	of	ADP
cblr-1780	564	18	“	"	PUNCT
cblr-1780	564	19	material	material	NOUN
cblr-1780	564	20	”	"	PUNCT
cblr-1780	564	21	in	in	ADP
cblr-1780	564	22	securities	security	NOUN
cblr-1780	564	23	law	law	NOUN
cblr-1780	564	24	,	,	PUNCT
cblr-1780	564	25	14	14	NUM
cblr-1780	564	26	u.	u.	PROPN
cblr-1780	564	27	pa	pa	PROPN
cblr-1780	564	28	.	.	PUNCT
cblr-1780	565	1	j.	j.	PROPN
cblr-1780	565	2	bus	bus	PROPN
cblr-1780	565	3	.	.	PUNCT
cblr-1780	566	1	l.	l.	PROPN
cblr-1780	566	2	167	167	NUM
cblr-1780	566	3	,	,	PUNCT
cblr-1780	566	4	167	167	NUM
cblr-1780	566	5	(	(	PUNCT
cblr-1780	566	6	2011	2011	NUM
cblr-1780	566	7	)	)	PUNCT
cblr-1780	567	1	(	(	PUNCT
cblr-1780	567	2	describing	describe	VERB
cblr-1780	567	3	the	the	DET
cblr-1780	567	4	application	application	NOUN
cblr-1780	567	5	of	of	ADP
cblr-1780	567	6	the	the	DET
cblr-1780	567	7	term	term	NOUN
cblr-1780	567	8	materiality	materiality	NOUN
cblr-1780	567	9	by	by	ADP
cblr-1780	567	10	federal	federal	ADJ
cblr-1780	567	11	courts	court	NOUN
cblr-1780	567	12	as	as	ADP
cblr-1780	567	13	“	"	PUNCT
cblr-1780	567	14	quixotic	quixotic	ADJ
cblr-1780	567	15	at	at	ADP
cblr-1780	567	16	best	good	ADJ
cblr-1780	567	17	”	"	PUNCT
cblr-1780	567	18	)	)	PUNCT
cblr-1780	567	19	.	.	PUNCT
cblr-1780	568	1	there	there	PRON
cblr-1780	568	2	is	be	VERB
cblr-1780	568	3	,	,	PUNCT
cblr-1780	568	4	for	for	ADP
cblr-1780	568	5	example	example	NOUN
cblr-1780	568	6	,	,	PUNCT
cblr-1780	568	7	uncertainty	uncertainty	NOUN
cblr-1780	568	8	about	about	ADP
cblr-1780	568	9	whether	whether	SCONJ
cblr-1780	568	10	the	the	DET
cblr-1780	568	11	reasonable	reasonable	ADJ
cblr-1780	568	12	investor	investor	NOUN
cblr-1780	568	13	should	should	AUX
cblr-1780	568	14	be	be	AUX
cblr-1780	568	15	defined	define	VERB
cblr-1780	568	16	based	base	VERB
cblr-1780	568	17	on	on	ADP
cblr-1780	568	18	the	the	DET
cblr-1780	568	19	attributes	attribute	NOUN
cblr-1780	568	20	of	of	ADP
cblr-1780	568	21	individual	individual	ADJ
cblr-1780	568	22	or	or	CCONJ
cblr-1780	568	23	institutional	institutional	ADJ
cblr-1780	568	24	investors	investor	NOUN
cblr-1780	568	25	,	,	PUNCT
cblr-1780	568	26	and	and	CCONJ
cblr-1780	568	27	whether	whether	SCONJ
cblr-1780	568	28	common	common	ADJ
cblr-1780	568	29	behavioral	behavioral	ADJ
cblr-1780	568	30	biases	bias	NOUN
cblr-1780	568	31	should	should	AUX
cblr-1780	568	32	be	be	AUX
cblr-1780	568	33	included	include	VERB
cblr-1780	568	34	in	in	ADP
cblr-1780	568	35	the	the	DET
cblr-1780	568	36	characterization	characterization	NOUN
cblr-1780	568	37	of	of	ADP
cblr-1780	568	38	the	the	DET
cblr-1780	568	39	reasonable	reasonable	ADJ
cblr-1780	568	40	investor	investor	NOUN
cblr-1780	568	41	.	.	PUNCT
cblr-1780	569	1	barbara	barbara	PROPN
cblr-1780	569	2	black	black	PROPN
cblr-1780	569	3	,	,	PUNCT
cblr-1780	569	4	behavioral	behavioral	ADJ
cblr-1780	569	5	economics	economic	NOUN
cblr-1780	569	6	and	and	CCONJ
cblr-1780	569	7	investor	investor	NOUN
cblr-1780	569	8	protection	protection	NOUN
cblr-1780	569	9	:	:	PUNCT
cblr-1780	569	10	reasonable	reasonable	ADJ
cblr-1780	569	11	investors	investor	NOUN
cblr-1780	569	12	,	,	PUNCT
cblr-1780	569	13	efficient	efficient	ADJ
cblr-1780	569	14	markets	market	NOUN
cblr-1780	569	15	,	,	PUNCT
cblr-1780	569	16	44	44	NUM
cblr-1780	569	17	loy	loy	NOUN
cblr-1780	569	18	.	.	PUNCT
cblr-1780	570	1	u.	u.	PROPN
cblr-1780	570	2	chi	chi	PROPN
cblr-1780	570	3	.	.	PUNCT
cblr-1780	571	1	l.j	l.j	PROPN
cblr-1780	571	2	.	.	PROPN
cblr-1780	571	3	1493	1493	NUM
cblr-1780	571	4	,	,	PUNCT
cblr-1780	571	5	1493	1493	NUM
cblr-1780	571	6	(	(	PUNCT
cblr-1780	571	7	2013	2013	NUM
cblr-1780	571	8	)	)	PUNCT
cblr-1780	571	9	;	;	PUNCT
cblr-1780	571	10	see	see	VERB
cblr-1780	571	11	also	also	ADV
cblr-1780	571	12	michael	michael	PROPN
cblr-1780	571	13	d.	d.	PROPN
cblr-1780	571	14	guttentag	guttentag	PROPN
cblr-1780	571	15	,	,	PUNCT
cblr-1780	571	16	an	an	DET
cblr-1780	571	17	argument	argument	NOUN
cblr-1780	571	18	for	for	ADP
cblr-1780	571	19	imposing	impose	VERB
cblr-1780	571	20	disclosure	disclosure	NOUN
cblr-1780	571	21	requirements	requirement	NOUN
cblr-1780	571	22	on	on	ADP
cblr-1780	571	23	public	public	ADJ
cblr-1780	571	24	companies	company	NOUN
cblr-1780	571	25	,	,	PUNCT
cblr-1780	571	26	32	32	NUM
cblr-1780	571	27	fla	fla	PROPN
cblr-1780	571	28	.	.	PUNCT
cblr-1780	572	1	st	st	PROPN
cblr-1780	572	2	.	.	PROPN
cblr-1780	572	3	u.	u.	PROPN
cblr-1780	572	4	l.	l.	PROPN
cblr-1780	572	5	rev	rev	PROPN
cblr-1780	572	6	.	.	PROPN
cblr-1780	572	7	123	123	NUM
cblr-1780	572	8	,	,	PUNCT
cblr-1780	572	9	170	170	NUM
cblr-1780	572	10	n.185	n.185	NUM
cblr-1780	572	11	(	(	PUNCT
cblr-1780	572	12	2004	2004	NUM
cblr-1780	572	13	)	)	PUNCT
cblr-1780	573	1	[	[	X
cblr-1780	573	2	hereinafter	hereinafter	NOUN
cblr-1780	573	3	guttentag	guttentag	NOUN
cblr-1780	573	4	,	,	PUNCT
cblr-1780	573	5	imposing	impose	VERB
cblr-1780	573	6	disclosure	disclosure	NOUN
cblr-1780	573	7	requirements	requirement	NOUN
cblr-1780	573	8	]	]	PUNCT
cblr-1780	573	9	(	(	PUNCT
cblr-1780	573	10	discussing	discuss	VERB
cblr-1780	573	11	the	the	DET
cblr-1780	573	12	difficulties	difficulty	NOUN
cblr-1780	573	13	with	with	ADP
cblr-1780	573	14	the	the	DET
cblr-1780	573	15	“	"	PUNCT
cblr-1780	573	16	reasonable	reasonable	ADJ
cblr-1780	573	17	investor	investor	NOUN
cblr-1780	573	18	”	"	PUNCT
cblr-1780	573	19	standard	standard	NOUN
cblr-1780	573	20	)	)	PUNCT
cblr-1780	573	21	;	;	PUNCT
cblr-1780	573	22	elizabeth	elizabeth	PROPN
cblr-1780	573	23	pollman	pollman	PROPN
cblr-1780	573	24	,	,	PUNCT
cblr-1780	573	25	a	a	DET
cblr-1780	573	26	corporate	corporate	ADJ
cblr-1780	573	27	right	right	NOUN
cblr-1780	573	28	to	to	ADP
cblr-1780	573	29	privacy	privacy	NOUN
cblr-1780	573	30	,	,	PUNCT
cblr-1780	573	31	99	99	NUM
cblr-1780	573	32	minn	minn	PROPN
cblr-1780	573	33	.	.	PUNCT
cblr-1780	574	1	l.	l.	PROPN
cblr-1780	574	2	rev	rev	PROPN
cblr-1780	574	3	.	.	PUNCT
cblr-1780	575	1	(	(	PUNCT
cblr-1780	575	2	forthcoming	forthcoming	ADJ
cblr-1780	575	3	apr	apr	NOUN
cblr-1780	575	4	.	.	NOUN
cblr-1780	575	5	2014	2014	NUM
cblr-1780	575	6	)	)	PUNCT
cblr-1780	576	1	(	(	PUNCT
cblr-1780	576	2	discussing	discuss	VERB
cblr-1780	576	3	how	how	SCONJ
cblr-1780	576	4	the	the	DET
cblr-1780	576	5	materiality	materiality	NOUN
cblr-1780	576	6	standard	standard	NOUN
cblr-1780	576	7	is	be	AUX
cblr-1780	576	8	vague	vague	ADJ
cblr-1780	576	9	and	and	CCONJ
cblr-1780	576	10	it	it	PRON
cblr-1780	576	11	is	be	AUX
cblr-1780	576	12	therefore	therefore	ADV
cblr-1780	576	13	unclear	unclear	ADJ
cblr-1780	576	14	whether	whether	SCONJ
cblr-1780	576	15	it	it	PRON
cblr-1780	576	16	would	would	AUX
cblr-1780	576	17	require	require	VERB
cblr-1780	576	18	disclosure	disclosure	NOUN
cblr-1780	576	19	of	of	ADP
cblr-1780	576	20	executive	executive	ADJ
cblr-1780	576	21	health	health	NOUN
cblr-1780	576	22	problems	problem	NOUN
cblr-1780	576	23	)	)	PUNCT
cblr-1780	576	24	.	.	PUNCT
cblr-1780	577	1	guttentag	guttentag	NOUN
cblr-1780	577	2	–	–	PUNCT
cblr-1780	577	3	final	final	ADJ
cblr-1780	577	4	no	no	NOUN
cblr-1780	577	5	.	.	PUNCT
cblr-1780	578	1	3:593	3:593	NUM
cblr-1780	578	2	]	]	PUNCT
cblr-1780	578	3	on	on	ADP
cblr-1780	578	4	political	political	ADJ
cblr-1780	578	5	spending	spending	NOUN
cblr-1780	578	6	disclosure	disclosure	NOUN
cblr-1780	578	7	633	633	NUM
cblr-1780	578	8	requirements	requirement	NOUN
cblr-1780	578	9	may	may	AUX
cblr-1780	578	10	provide	provide	VERB
cblr-1780	578	11	an	an	DET
cblr-1780	578	12	efficient	efficient	ADJ
cblr-1780	578	13	and	and	CCONJ
cblr-1780	578	14	reliable	reliable	ADJ
cblr-1780	578	15	way	way	NOUN
cblr-1780	578	16	to	to	PART
cblr-1780	578	17	ensure	ensure	VERB
cblr-1780	578	18	firms	firm	NOUN
cblr-1780	578	19	make	make	VERB
cblr-1780	578	20	appropriate	appropriate	ADJ
cblr-1780	578	21	public	public	ADJ
cblr-1780	578	22	disclosures.130	disclosures.130	NOUN
cblr-1780	578	23	the	the	DET
cblr-1780	578	24	second	second	ADJ
cblr-1780	578	25	reason	reason	NOUN
cblr-1780	578	26	that	that	SCONJ
cblr-1780	578	27	the	the	DET
cblr-1780	578	28	broad	broad	ADJ
cblr-1780	578	29	reach	reach	NOUN
cblr-1780	578	30	of	of	ADP
cblr-1780	578	31	the	the	DET
cblr-1780	578	32	materiality	materiality	NOUN
cblr-1780	578	33	disclosure	disclosure	NOUN
cblr-1780	578	34	obligation	obligation	NOUN
cblr-1780	578	35	does	do	AUX
cblr-1780	578	36	not	not	PART
cblr-1780	578	37	fully	fully	ADV
cblr-1780	578	38	dispense	dispense	VERB
cblr-1780	578	39	with	with	ADP
cblr-1780	578	40	the	the	DET
cblr-1780	578	41	need	need	NOUN
cblr-1780	578	42	for	for	ADP
cblr-1780	578	43	topic	topic	NOUN
cblr-1780	578	44	-	-	PUNCT
cblr-1780	578	45	specific	specific	ADJ
cblr-1780	578	46	disclosure	disclosure	NOUN
cblr-1780	578	47	requirements	requirement	NOUN
cblr-1780	578	48	is	be	AUX
cblr-1780	578	49	that	that	SCONJ
cblr-1780	578	50	there	there	PRON
cblr-1780	578	51	is	be	VERB
cblr-1780	578	52	an	an	DET
cblr-1780	578	53	entire	entire	ADJ
cblr-1780	578	54	class	class	NOUN
cblr-1780	578	55	of	of	ADP
cblr-1780	578	56	disclosure	disclosure	NOUN
cblr-1780	578	57	requirements	requirement	NOUN
cblr-1780	578	58	that	that	PRON
cblr-1780	578	59	are	be	AUX
cblr-1780	578	60	valuable	valuable	ADJ
cblr-1780	578	61	to	to	ADP
cblr-1780	578	62	investors	investor	NOUN
cblr-1780	578	63	for	for	ADP
cblr-1780	578	64	reasons	reason	NOUN
cblr-1780	578	65	other	other	ADJ
cblr-1780	578	66	than	than	ADP
cblr-1780	578	67	because	because	SCONJ
cblr-1780	578	68	they	they	PRON
cblr-1780	578	69	generate	generate	VERB
cblr-1780	578	70	information	information	NOUN
cblr-1780	578	71	a	a	DET
cblr-1780	578	72	reasonable	reasonable	ADJ
cblr-1780	578	73	investor	investor	NOUN
cblr-1780	578	74	would	would	AUX
cblr-1780	578	75	find	find	VERB
cblr-1780	578	76	useful	useful	ADJ
cblr-1780	578	77	in	in	ADP
cblr-1780	578	78	valuing	value	VERB
cblr-1780	578	79	the	the	DET
cblr-1780	578	80	company	company	NOUN
cblr-1780	578	81	’s	’s	PART
cblr-1780	578	82	securities	security	NOUN
cblr-1780	578	83	.	.	PUNCT
cblr-1780	579	1	many	many	ADJ
cblr-1780	579	2	disclosure	disclosure	NOUN
cblr-1780	579	3	requirements	requirement	NOUN
cblr-1780	579	4	are	be	AUX
cblr-1780	579	5	adopted	adopt	VERB
cblr-1780	579	6	because	because	SCONJ
cblr-1780	579	7	they	they	PRON
cblr-1780	579	8	alter	alter	VERB
cblr-1780	579	9	behavior	behavior	NOUN
cblr-1780	579	10	,	,	PUNCT
cblr-1780	579	11	not	not	PART
cblr-1780	579	12	because	because	SCONJ
cblr-1780	579	13	they	they	PRON
cblr-1780	579	14	are	be	AUX
cblr-1780	579	15	likely	likely	ADJ
cblr-1780	579	16	to	to	PART
cblr-1780	579	17	lead	lead	VERB
cblr-1780	579	18	to	to	ADP
cblr-1780	579	19	the	the	DET
cblr-1780	579	20	disclosure	disclosure	NOUN
cblr-1780	579	21	of	of	ADP
cblr-1780	579	22	valuerelevant	valuerelevant	ADJ
cblr-1780	579	23	information	information	NOUN
cblr-1780	579	24	.	.	PUNCT
cblr-1780	580	1	the	the	DET
cblr-1780	580	2	use	use	NOUN
cblr-1780	580	3	of	of	ADP
cblr-1780	580	4	disclosure	disclosure	NOUN
cblr-1780	580	5	rules	rule	NOUN
cblr-1780	580	6	to	to	PART
cblr-1780	580	7	alter	alter	VERB
cblr-1780	580	8	behavior	behavior	NOUN
cblr-1780	580	9	,	,	PUNCT
cblr-1780	580	10	in	in	ADP
cblr-1780	580	11	fact	fact	NOUN
cblr-1780	580	12	,	,	PUNCT
cblr-1780	580	13	has	have	VERB
cblr-1780	580	14	an	an	DET
cblr-1780	580	15	older	old	ADJ
cblr-1780	580	16	pedigree	pedigree	NOUN
cblr-1780	580	17	than	than	ADP
cblr-1780	580	18	the	the	DET
cblr-1780	580	19	use	use	NOUN
cblr-1780	580	20	of	of	ADP
cblr-1780	580	21	disclosure	disclosure	NOUN
cblr-1780	580	22	rules	rule	NOUN
cblr-1780	580	23	as	as	ADP
cblr-1780	580	24	a	a	DET
cblr-1780	580	25	way	way	NOUN
cblr-1780	580	26	to	to	PART
cblr-1780	580	27	ensure	ensure	VERB
cblr-1780	580	28	investors	investor	NOUN
cblr-1780	580	29	receive	receive	VERB
cblr-1780	580	30	information	information	NOUN
cblr-1780	580	31	relevant	relevant	ADJ
cblr-1780	580	32	to	to	ADP
cblr-1780	580	33	a	a	DET
cblr-1780	580	34	firm	firm	NOUN
cblr-1780	580	35	’s	’s	PART
cblr-1780	580	36	value.131	value.131	NOUN
cblr-1780	580	37	these	these	DET
cblr-1780	580	38	two	two	NUM
cblr-1780	580	39	limitations	limitation	NOUN
cblr-1780	580	40	to	to	ADP
cblr-1780	580	41	the	the	DET
cblr-1780	580	42	application	application	NOUN
cblr-1780	580	43	of	of	ADP
cblr-1780	580	44	the	the	DET
cblr-1780	580	45	general	general	ADJ
cblr-1780	580	46	materiality	materiality	NOUN
cblr-1780	580	47	disclosure	disclosure	NOUN
cblr-1780	580	48	obligation	obligation	NOUN
cblr-1780	580	49	,	,	PUNCT
cblr-1780	580	50	ambiguity	ambiguity	NOUN
cblr-1780	580	51	in	in	ADP
cblr-1780	580	52	applying	apply	VERB
cblr-1780	580	53	such	such	DET
cblr-1780	580	54	a	a	DET
cblr-1780	580	55	general	general	ADJ
cblr-1780	580	56	standard	standard	NOUN
cblr-1780	580	57	,	,	PUNCT
cblr-1780	580	58	and	and	CCONJ
cblr-1780	580	59	the	the	DET
cblr-1780	580	60	usefulness	usefulness	NOUN
cblr-1780	580	61	of	of	ADP
cblr-1780	580	62	disclosure	disclosure	NOUN
cblr-1780	580	63	rules	rule	NOUN
cblr-1780	580	64	as	as	ADP
cblr-1780	580	65	a	a	DET
cblr-1780	580	66	way	way	NOUN
cblr-1780	580	67	to	to	PART
cblr-1780	580	68	deter	deter	VERB
cblr-1780	580	69	untoward	untoward	ADJ
cblr-1780	580	70	behavior	behavior	NOUN
cblr-1780	580	71	,	,	PUNCT
cblr-1780	580	72	explain	explain	VERB
cblr-1780	580	73	why	why	SCONJ
cblr-1780	580	74	the	the	DET
cblr-1780	580	75	federal	federal	ADJ
cblr-1780	580	76	public	public	ADJ
cblr-1780	580	77	disclosure	disclosure	NOUN
cblr-1780	580	78	regime	regime	NOUN
cblr-1780	580	79	has	have	AUX
cblr-1780	580	80	historically	historically	ADV
cblr-1780	580	81	combined	combine	VERB
cblr-1780	580	82	the	the	DET
cblr-1780	580	83	materiality	materiality	NOUN
cblr-1780	580	84	disclosure	disclosure	NOUN
cblr-1780	580	85	obligation	obligation	NOUN
cblr-1780	580	86	with	with	ADP
cblr-1780	580	87	a	a	DET
cblr-1780	580	88	number	number	NOUN
cblr-1780	580	89	of	of	ADP
cblr-1780	580	90	topic	topic	NOUN
cblr-1780	580	91	130	130	NUM
cblr-1780	580	92	the	the	DET
cblr-1780	580	93	choice	choice	NOUN
cblr-1780	580	94	between	between	ADP
cblr-1780	580	95	the	the	DET
cblr-1780	580	96	application	application	NOUN
cblr-1780	580	97	of	of	ADP
cblr-1780	580	98	general	general	ADJ
cblr-1780	580	99	principles	principle	NOUN
cblr-1780	580	100	and	and	CCONJ
cblr-1780	580	101	specific	specific	ADJ
cblr-1780	580	102	rules	rule	NOUN
cblr-1780	580	103	in	in	ADP
cblr-1780	580	104	determining	determine	VERB
cblr-1780	580	105	what	what	PRON
cblr-1780	580	106	information	information	NOUN
cblr-1780	580	107	public	public	ADJ
cblr-1780	580	108	companies	company	NOUN
cblr-1780	580	109	should	should	AUX
cblr-1780	580	110	be	be	AUX
cblr-1780	580	111	required	require	VERB
cblr-1780	580	112	to	to	PART
cblr-1780	580	113	disclose	disclose	VERB
cblr-1780	580	114	touches	touch	NOUN
cblr-1780	580	115	on	on	ADP
cblr-1780	580	116	broader	broad	ADJ
cblr-1780	580	117	questions	question	NOUN
cblr-1780	580	118	about	about	ADP
cblr-1780	580	119	the	the	DET
cblr-1780	580	120	trade	trade	NOUN
cblr-1780	580	121	-	-	PUNCT
cblr-1780	580	122	offs	off	NOUN
cblr-1780	580	123	between	between	ADP
cblr-1780	580	124	these	these	DET
cblr-1780	580	125	two	two	NUM
cblr-1780	580	126	approaches	approach	NOUN
cblr-1780	580	127	to	to	ADP
cblr-1780	580	128	lawmaking	lawmaking	NOUN
cblr-1780	580	129	.	.	PUNCT
cblr-1780	581	1	see	see	VERB
cblr-1780	581	2	,	,	PUNCT
cblr-1780	581	3	e.g.	e.g.	ADV
cblr-1780	581	4	,	,	PUNCT
cblr-1780	581	5	louis	louis	PROPN
cblr-1780	581	6	kaplow	kaplow	PROPN
cblr-1780	581	7	,	,	PUNCT
cblr-1780	581	8	rules	rule	NOUN
cblr-1780	581	9	versus	versus	ADP
cblr-1780	581	10	standards	standard	NOUN
cblr-1780	581	11	:	:	PUNCT
cblr-1780	581	12	an	an	DET
cblr-1780	581	13	economic	economic	ADJ
cblr-1780	581	14	analysis	analysis	NOUN
cblr-1780	581	15	,	,	PUNCT
cblr-1780	581	16	42	42	NUM
cblr-1780	581	17	duke	duke	PROPN
cblr-1780	581	18	l.j	l.j	PROPN
cblr-1780	581	19	.	.	PROPN
cblr-1780	581	20	557	557	NUM
cblr-1780	581	21	,	,	PUNCT
cblr-1780	581	22	557	557	NUM
cblr-1780	581	23	(	(	PUNCT
cblr-1780	581	24	1992	1992	NUM
cblr-1780	581	25	)	)	PUNCT
cblr-1780	581	26	.	.	PUNCT
cblr-1780	582	1	131	131	NUM
cblr-1780	582	2	louis	louis	PROPN
cblr-1780	582	3	brandeis	brandeis	PROPN
cblr-1780	582	4	highlighted	highlight	VERB
cblr-1780	582	5	the	the	DET
cblr-1780	582	6	prophylactic	prophylactic	ADJ
cblr-1780	582	7	benefits	benefit	NOUN
cblr-1780	582	8	of	of	ADP
cblr-1780	582	9	disclosure	disclosure	NOUN
cblr-1780	582	10	rules	rule	NOUN
cblr-1780	582	11	in	in	ADP
cblr-1780	582	12	his	his	PRON
cblr-1780	582	13	1913	1913	NUM
cblr-1780	582	14	essay	essay	NOUN
cblr-1780	582	15	,	,	PUNCT
cblr-1780	582	16	what	what	DET
cblr-1780	582	17	publicity	publicity	NOUN
cblr-1780	582	18	can	can	AUX
cblr-1780	582	19	do	do	VERB
cblr-1780	582	20	.	.	PUNCT
cblr-1780	583	1	louis	louis	PROPN
cblr-1780	583	2	d.	d.	PROPN
cblr-1780	583	3	brandeis	brandeis	PROPN
cblr-1780	583	4	,	,	PUNCT
cblr-1780	583	5	what	what	DET
cblr-1780	583	6	publicity	publicity	NOUN
cblr-1780	583	7	can	can	AUX
cblr-1780	583	8	do	do	VERB
cblr-1780	583	9	,	,	PUNCT
cblr-1780	583	10	harper	harper	NOUN
cblr-1780	583	11	’s	’s	PART
cblr-1780	583	12	weekly	weekly	ADJ
cblr-1780	583	13	,	,	PUNCT
cblr-1780	583	14	dec	dec	PROPN
cblr-1780	583	15	.	.	PROPN
cblr-1780	583	16	20	20	NUM
cblr-1780	583	17	,	,	PUNCT
cblr-1780	583	18	1913	1913	NUM
cblr-1780	583	19	,	,	PUNCT
cblr-1780	583	20	reprinted	reprint	VERB
cblr-1780	583	21	in	in	ADP
cblr-1780	583	22	louis	louis	PROPN
cblr-1780	583	23	d.	d.	PROPN
cblr-1780	583	24	brandeis	brandeis	PROPN
cblr-1780	583	25	,	,	PUNCT
cblr-1780	583	26	other	other	ADJ
cblr-1780	583	27	people	people	NOUN
cblr-1780	583	28	’s	’s	PART
cblr-1780	583	29	money	money	NOUN
cblr-1780	583	30	and	and	CCONJ
cblr-1780	583	31	how	how	SCONJ
cblr-1780	583	32	the	the	DET
cblr-1780	583	33	bankers	banker	NOUN
cblr-1780	583	34	use	use	VERB
cblr-1780	583	35	it	it	PRON
cblr-1780	583	36	92	92	NUM
cblr-1780	583	37	(	(	PUNCT
cblr-1780	583	38	1914	1914	NUM
cblr-1780	583	39	)	)	PUNCT
cblr-1780	583	40	(	(	PUNCT
cblr-1780	583	41	“	"	PUNCT
cblr-1780	583	42	sunlight	sunlight	NOUN
cblr-1780	583	43	is	be	AUX
cblr-1780	583	44	said	say	VERB
cblr-1780	583	45	to	to	PART
cblr-1780	583	46	be	be	AUX
cblr-1780	583	47	the	the	DET
cblr-1780	583	48	best	good	ADJ
cblr-1780	583	49	of	of	ADP
cblr-1780	583	50	disinfectants	disinfectant	NOUN
cblr-1780	583	51	;	;	PUNCT
cblr-1780	583	52	electric	electric	ADJ
cblr-1780	583	53	light	light	NOUN
cblr-1780	583	54	the	the	DET
cblr-1780	583	55	most	most	ADV
cblr-1780	583	56	efficient	efficient	ADJ
cblr-1780	583	57	policeman	policeman	NOUN
cblr-1780	583	58	.	.	PUNCT
cblr-1780	583	59	”	"	PUNCT
cblr-1780	583	60	)	)	PUNCT
cblr-1780	583	61	.	.	PUNCT
cblr-1780	584	1	the	the	DET
cblr-1780	584	2	prototypical	prototypical	ADJ
cblr-1780	584	3	disclosure	disclosure	NOUN
cblr-1780	584	4	rule	rule	NOUN
cblr-1780	584	5	relied	rely	VERB
cblr-1780	584	6	upon	upon	SCONJ
cblr-1780	584	7	specifically	specifically	ADV
cblr-1780	584	8	to	to	PART
cblr-1780	584	9	deter	deter	VERB
cblr-1780	584	10	untoward	untoward	ADJ
cblr-1780	584	11	behavior	behavior	NOUN
cblr-1780	584	12	is	be	AUX
cblr-1780	584	13	a	a	DET
cblr-1780	584	14	requirement	requirement	NOUN
cblr-1780	584	15	that	that	SCONJ
cblr-1780	584	16	a	a	DET
cblr-1780	584	17	firm	firm	NOUN
cblr-1780	584	18	disclose	disclose	VERB
cblr-1780	584	19	related	relate	VERB
cblr-1780	584	20	party	party	NOUN
cblr-1780	584	21	transactions	transaction	NOUN
cblr-1780	584	22	(	(	PUNCT
cblr-1780	584	23	regulation	regulation	NOUN
cblr-1780	584	24	s	s	NOUN
cblr-1780	584	25	-	-	PUNCT
cblr-1780	584	26	k	k	ADJ
cblr-1780	584	27	,	,	PUNCT
cblr-1780	584	28	item	item	NOUN
cblr-1780	584	29	404	404	NUM
cblr-1780	584	30	)	)	PUNCT
cblr-1780	584	31	.	.	PUNCT
cblr-1780	585	1	such	such	DET
cblr-1780	585	2	a	a	DET
cblr-1780	585	3	rule	rule	NOUN
cblr-1780	585	4	is	be	AUX
cblr-1780	585	5	most	most	ADV
cblr-1780	585	6	effective	effective	ADJ
cblr-1780	585	7	if	if	SCONJ
cblr-1780	585	8	it	it	PRON
cblr-1780	585	9	results	result	VERB
cblr-1780	585	10	in	in	ADP
cblr-1780	585	11	non	non	ADJ
cblr-1780	585	12	-	-	NOUN
cblr-1780	585	13	disclosure	disclosure	ADJ
cblr-1780	585	14	,	,	PUNCT
cblr-1780	585	15	because	because	SCONJ
cblr-1780	585	16	of	of	ADP
cblr-1780	585	17	its	its	PRON
cblr-1780	585	18	deterrent	deterrent	NOUN
cblr-1780	585	19	effect	effect	NOUN
cblr-1780	585	20	.	.	PUNCT
cblr-1780	586	1	see	see	VERB
cblr-1780	586	2	also	also	ADV
cblr-1780	586	3	mahoney	mahoney	PROPN
cblr-1780	586	4	,	,	PUNCT
cblr-1780	586	5	supra	supra	PROPN
cblr-1780	586	6	note	note	PROPN
cblr-1780	586	7	72	72	NUM
cblr-1780	586	8	.	.	PUNCT
cblr-1780	587	1	guttentag	guttentag	NOUN
cblr-1780	587	2	–	–	PUNCT
cblr-1780	587	3	final	final	ADJ
cblr-1780	587	4	634	634	NUM
cblr-1780	587	5	columbia	columbia	PROPN
cblr-1780	587	6	business	business	NOUN
cblr-1780	587	7	law	law	PROPN
cblr-1780	587	8	review	review	NOUN
cblr-1780	587	9	[	[	X
cblr-1780	587	10	vol	vol	NOUN
cblr-1780	587	11	.	.	PUNCT
cblr-1780	587	12	2014	2014	NUM
cblr-1780	587	13	specific	specific	ADJ
cblr-1780	587	14	disclosure	disclosure	NOUN
cblr-1780	587	15	obligations	obligation	NOUN
cblr-1780	587	16	,	,	PUNCT
cblr-1780	587	17	rather	rather	ADV
cblr-1780	587	18	than	than	ADP
cblr-1780	587	19	rely	rely	VERB
cblr-1780	587	20	solely	solely	ADV
cblr-1780	587	21	on	on	ADP
cblr-1780	587	22	the	the	DET
cblr-1780	587	23	materiality	materiality	NOUN
cblr-1780	587	24	standard.132	standard.132	NOUN
cblr-1780	587	25	a	a	DET
cblr-1780	587	26	second	second	ADJ
cblr-1780	587	27	reason	reason	NOUN
cblr-1780	587	28	that	that	SCONJ
cblr-1780	587	29	the	the	DET
cblr-1780	587	30	initial	initial	ADJ
cblr-1780	587	31	presumption	presumption	NOUN
cblr-1780	587	32	should	should	AUX
cblr-1780	587	33	be	be	AUX
cblr-1780	587	34	against	against	ADP
cblr-1780	587	35	imposing	impose	VERB
cblr-1780	587	36	topic	topic	NOUN
cblr-1780	587	37	-	-	PUNCT
cblr-1780	587	38	specific	specific	ADJ
cblr-1780	587	39	disclosure	disclosure	NOUN
cblr-1780	587	40	obligations	obligation	NOUN
cblr-1780	587	41	on	on	ADP
cblr-1780	587	42	public	public	ADJ
cblr-1780	587	43	companies	company	NOUN
cblr-1780	587	44	is	be	AUX
cblr-1780	587	45	that	that	SCONJ
cblr-1780	587	46	there	there	PRON
cblr-1780	587	47	is	be	VERB
cblr-1780	587	48	a	a	DET
cblr-1780	587	49	large	large	ADJ
cblr-1780	587	50	amount	amount	NOUN
cblr-1780	587	51	of	of	ADP
cblr-1780	587	52	heterogeneity	heterogeneity	NOUN
cblr-1780	587	53	among	among	ADP
cblr-1780	587	54	public	public	ADJ
cblr-1780	587	55	firms	firm	NOUN
cblr-1780	587	56	in	in	ADP
cblr-1780	587	57	the	the	DET
cblr-1780	587	58	united	united	PROPN
cblr-1780	587	59	states	states	PROPN
cblr-1780	587	60	.	.	PUNCT
cblr-1780	588	1	there	there	PRON
cblr-1780	588	2	are	be	VERB
cblr-1780	588	3	over	over	ADP
cblr-1780	588	4	5,000	5,000	NUM
cblr-1780	588	5	firms	firm	NOUN
cblr-1780	588	6	subject	subject	ADJ
cblr-1780	588	7	to	to	ADP
cblr-1780	588	8	the	the	DET
cblr-1780	588	9	mandatory	mandatory	ADJ
cblr-1780	588	10	federal	federal	ADJ
cblr-1780	588	11	public	public	ADJ
cblr-1780	588	12	company	company	NOUN
cblr-1780	588	13	disclosure	disclosure	NOUN
cblr-1780	588	14	regime	regime	NOUN
cblr-1780	588	15	in	in	ADP
cblr-1780	588	16	the	the	DET
cblr-1780	588	17	united	united	PROPN
cblr-1780	588	18	states,133	states,133	PROPN
cblr-1780	588	19	and	and	CCONJ
cblr-1780	588	20	these	these	DET
cblr-1780	588	21	firms	firm	NOUN
cblr-1780	588	22	come	come	VERB
cblr-1780	588	23	in	in	ADP
cblr-1780	588	24	many	many	ADJ
cblr-1780	588	25	shapes	shape	NOUN
cblr-1780	588	26	and	and	CCONJ
cblr-1780	588	27	sizes	size	NOUN
cblr-1780	588	28	.	.	PUNCT
cblr-1780	589	1	to	to	PART
cblr-1780	589	2	consider	consider	VERB
cblr-1780	589	3	just	just	ADV
cblr-1780	589	4	one	one	NUM
cblr-1780	589	5	dimension	dimension	NOUN
cblr-1780	589	6	,	,	PUNCT
cblr-1780	589	7	the	the	DET
cblr-1780	589	8	market	market	NOUN
cblr-1780	589	9	capitalization	capitalization	NOUN
cblr-1780	589	10	of	of	ADP
cblr-1780	589	11	apple	apple	PROPN
cblr-1780	589	12	inc	inc	PROPN
cblr-1780	589	13	.	.	PROPN
cblr-1780	590	1	in	in	ADP
cblr-1780	590	2	august	august	PROPN
cblr-1780	590	3	of	of	ADP
cblr-1780	590	4	2014	2014	NUM
cblr-1780	590	5	was	be	AUX
cblr-1780	590	6	over	over	ADP
cblr-1780	590	7	$	$	SYM
cblr-1780	590	8	600	600	NUM
cblr-1780	590	9	billion,134	billion,134	ADJ
cblr-1780	590	10	while	while	SCONJ
cblr-1780	590	11	many	many	ADJ
cblr-1780	590	12	public	public	ADJ
cblr-1780	590	13	companies	company	NOUN
cblr-1780	590	14	have	have	VERB
cblr-1780	590	15	market	market	NOUN
cblr-1780	590	16	capitalizations	capitalization	NOUN
cblr-1780	590	17	under	under	ADP
cblr-1780	590	18	$	$	SYM
cblr-1780	590	19	10	10	NUM
cblr-1780	590	20	million	million	NUM
cblr-1780	590	21	.	.	PUNCT
cblr-1780	591	1	this	this	PRON
cblr-1780	591	2	means	mean	VERB
cblr-1780	591	3	the	the	DET
cblr-1780	591	4	multiple	multiple	NOUN
cblr-1780	591	5	between	between	ADP
cblr-1780	591	6	the	the	DET
cblr-1780	591	7	market	market	NOUN
cblr-1780	591	8	capitalization	capitalization	NOUN
cblr-1780	591	9	of	of	ADP
cblr-1780	591	10	the	the	DET
cblr-1780	591	11	smallest	small	ADJ
cblr-1780	591	12	and	and	CCONJ
cblr-1780	591	13	largest	large	ADJ
cblr-1780	591	14	firms	firm	NOUN
cblr-1780	591	15	subject	subject	ADJ
cblr-1780	591	16	to	to	ADP
cblr-1780	591	17	roughly	roughly	ADV
cblr-1780	591	18	the	the	DET
cblr-1780	591	19	same	same	ADJ
cblr-1780	591	20	mandatory	mandatory	ADJ
cblr-1780	591	21	disclosure	disclosure	NOUN
cblr-1780	591	22	obligations	obligation	NOUN
cblr-1780	591	23	is	be	AUX
cblr-1780	591	24	on	on	ADP
cblr-1780	591	25	the	the	DET
cblr-1780	591	26	order	order	NOUN
cblr-1780	591	27	of	of	ADP
cblr-1780	591	28	at	at	ADV
cblr-1780	591	29	least	least	ADV
cblr-1780	591	30	6,000	6,000	NUM
cblr-1780	591	31	to	to	PART
cblr-1780	591	32	1	1	NUM
cblr-1780	591	33	,	,	PUNCT
cblr-1780	591	34	a	a	DET
cblr-1780	591	35	dramatic	dramatic	ADJ
cblr-1780	591	36	range	range	NOUN
cblr-1780	591	37	.	.	PUNCT
cblr-1780	592	1	this	this	DET
cblr-1780	592	2	heterogeneity	heterogeneity	NOUN
cblr-1780	592	3	inevitably	inevitably	ADV
cblr-1780	592	4	challenges	challenge	VERB
cblr-1780	592	5	the	the	DET
cblr-1780	592	6	ability	ability	NOUN
cblr-1780	592	7	of	of	ADP
cblr-1780	592	8	regulators	regulator	NOUN
cblr-1780	592	9	to	to	PART
cblr-1780	592	10	create	create	VERB
cblr-1780	592	11	topic	topic	NOUN
cblr-1780	592	12	-	-	PUNCT
cblr-1780	592	13	specific	specific	ADJ
cblr-1780	592	14	disclosure	disclosure	NOUN
cblr-1780	592	15	requirements	requirement	NOUN
cblr-1780	592	16	that	that	PRON
cblr-1780	592	17	work	work	VERB
cblr-1780	592	18	well	well	ADV
cblr-1780	592	19	for	for	ADP
cblr-1780	592	20	all	all	DET
cblr-1780	592	21	public	public	ADJ
cblr-1780	592	22	companies.135	companies.135	NOUN
cblr-1780	592	23	a	a	DET
cblr-1780	592	24	third	third	ADJ
cblr-1780	592	25	reason	reason	NOUN
cblr-1780	592	26	that	that	SCONJ
cblr-1780	592	27	the	the	DET
cblr-1780	592	28	presumption	presumption	NOUN
cblr-1780	592	29	should	should	AUX
cblr-1780	592	30	be	be	AUX
cblr-1780	592	31	against	against	ADP
cblr-1780	592	32	imposing	impose	VERB
cblr-1780	592	33	topic	topic	NOUN
cblr-1780	592	34	-	-	PUNCT
cblr-1780	592	35	specific	specific	ADJ
cblr-1780	592	36	disclosure	disclosure	NOUN
cblr-1780	592	37	obligations	obligation	NOUN
cblr-1780	592	38	on	on	ADP
cblr-1780	592	39	public	public	ADJ
cblr-1780	592	40	132	132	NUM
cblr-1780	592	41	the	the	DET
cblr-1780	592	42	advisability	advisability	NOUN
cblr-1780	592	43	of	of	ADP
cblr-1780	592	44	including	include	VERB
cblr-1780	592	45	topic	topic	NOUN
cblr-1780	592	46	-	-	PUNCT
cblr-1780	592	47	specific	specific	ADJ
cblr-1780	592	48	disclosure	disclosure	NOUN
cblr-1780	592	49	requirements	requirement	NOUN
cblr-1780	592	50	was	be	AUX
cblr-1780	592	51	one	one	NUM
cblr-1780	592	52	of	of	ADP
cblr-1780	592	53	the	the	DET
cblr-1780	592	54	few	few	ADJ
cblr-1780	592	55	areas	area	NOUN
cblr-1780	592	56	of	of	ADP
cblr-1780	592	57	disagreement	disagreement	NOUN
cblr-1780	592	58	between	between	ADP
cblr-1780	592	59	the	the	DET
cblr-1780	592	60	original	original	ADJ
cblr-1780	592	61	drafters	drafter	NOUN
cblr-1780	592	62	of	of	ADP
cblr-1780	592	63	the	the	DET
cblr-1780	592	64	securities	security	NOUN
cblr-1780	592	65	act	act	PROPN
cblr-1780	592	66	.	.	PUNCT
cblr-1780	593	1	joel	joel	PROPN
cblr-1780	593	2	seligman	seligman	PROPN
cblr-1780	593	3	writes	write	VERB
cblr-1780	593	4	in	in	ADP
cblr-1780	593	5	his	his	PRON
cblr-1780	593	6	history	history	NOUN
cblr-1780	593	7	of	of	ADP
cblr-1780	593	8	the	the	DET
cblr-1780	593	9	sec	sec	PROPN
cblr-1780	593	10	:	:	PUNCT
cblr-1780	593	11	in	in	ADP
cblr-1780	593	12	particular	particular	ADJ
cblr-1780	593	13	,	,	PUNCT
cblr-1780	593	14	landis	landis	PROPN
cblr-1780	593	15	fought	fight	VERB
cblr-1780	593	16	with	with	ADP
cblr-1780	593	17	cohen	cohen	PROPN
cblr-1780	593	18	about	about	ADP
cblr-1780	593	19	the	the	DET
cblr-1780	593	20	wisdom	wisdom	NOUN
cblr-1780	593	21	of	of	ADP
cblr-1780	593	22	including	include	VERB
cblr-1780	593	23	a	a	DET
cblr-1780	593	24	detailed	detailed	ADJ
cblr-1780	593	25	schedule	schedule	NOUN
cblr-1780	593	26	of	of	ADP
cblr-1780	593	27	data	datum	NOUN
cblr-1780	593	28	to	to	PART
cblr-1780	593	29	be	be	AUX
cblr-1780	593	30	disclosed	disclose	VERB
cblr-1780	593	31	by	by	ADP
cblr-1780	593	32	each	each	DET
cblr-1780	593	33	firm	firm	NOUN
cblr-1780	593	34	before	before	SCONJ
cblr-1780	593	35	it	it	PRON
cblr-1780	593	36	sold	sell	VERB
cblr-1780	593	37	securities	security	NOUN
cblr-1780	593	38	to	to	ADP
cblr-1780	593	39	the	the	DET
cblr-1780	593	40	public	public	NOUN
cblr-1780	593	41	.	.	PUNCT
cblr-1780	593	42	.	.	PUNCT
cblr-1780	593	43	.	.	PUNCT
cblr-1780	593	44	.	.	PUNCT
cblr-1780	594	1	by	by	ADP
cblr-1780	594	2	april	april	PROPN
cblr-1780	594	3	21	21	NUM
cblr-1780	594	4	,	,	PUNCT
cblr-1780	594	5	[	[	X
cblr-1780	594	6	1933	1933	NUM
cblr-1780	594	7	,	,	PUNCT
cblr-1780	594	8	]	]	PUNCT
cblr-1780	594	9	landis	landis	PROPN
cblr-1780	594	10	and	and	CCONJ
cblr-1780	594	11	cohen	cohen	PROPN
cblr-1780	594	12	had	have	AUX
cblr-1780	594	13	completed	complete	VERB
cblr-1780	594	14	a	a	DET
cblr-1780	594	15	revised	revised	ADJ
cblr-1780	594	16	draft	draft	NOUN
cblr-1780	594	17	.	.	PUNCT
cblr-1780	595	1	the	the	DET
cblr-1780	595	2	hard	hard	ADV
cblr-1780	595	3	-	-	PUNCT
cblr-1780	595	4	won	win	VERB
cblr-1780	595	5	schedule	schedule	NOUN
cblr-1780	595	6	of	of	ADP
cblr-1780	595	7	items	item	NOUN
cblr-1780	595	8	to	to	PART
cblr-1780	595	9	be	be	AUX
cblr-1780	595	10	disclosed	disclose	VERB
cblr-1780	595	11	remained	remain	VERB
cblr-1780	595	12	and	and	CCONJ
cblr-1780	595	13	had	have	AUX
cblr-1780	595	14	been	be	AUX
cblr-1780	595	15	somewhat	somewhat	ADV
cblr-1780	595	16	expanded	expand	VERB
cblr-1780	595	17	.	.	PUNCT
cblr-1780	596	1	seligman	seligman	PROPN
cblr-1780	596	2	,	,	PUNCT
cblr-1780	596	3	supra	supra	PROPN
cblr-1780	596	4	note	note	NOUN
cblr-1780	596	5	125	125	NUM
cblr-1780	596	6	,	,	PUNCT
cblr-1780	596	7	at	at	ADP
cblr-1780	596	8	64–65	64–65	NUM
cblr-1780	596	9	.	.	PUNCT
cblr-1780	597	1	133	133	NUM
cblr-1780	597	2	dan	dan	PROPN
cblr-1780	597	3	strumpf	strumpf	NOUN
cblr-1780	597	4	,	,	PUNCT
cblr-1780	597	5	in	in	ADP
cblr-1780	597	6	public	public	ADJ
cblr-1780	597	7	markets	market	NOUN
cblr-1780	597	8	,	,	PUNCT
cblr-1780	597	9	echoes	echo	VERB
cblr-1780	597	10	of	of	ADP
cblr-1780	597	11	a	a	DET
cblr-1780	597	12	boom	boom	NOUN
cblr-1780	597	13	,	,	PUNCT
cblr-1780	597	14	wall	wall	PROPN
cblr-1780	597	15	st	st	PROPN
cblr-1780	597	16	.	.	PROPN
cblr-1780	597	17	j.	j.	PROPN
cblr-1780	597	18	,	,	PUNCT
cblr-1780	597	19	feb	feb	PROPN
cblr-1780	597	20	.	.	PROPN
cblr-1780	597	21	6	6	NUM
cblr-1780	597	22	,	,	PUNCT
cblr-1780	597	23	2014	2014	NUM
cblr-1780	597	24	,	,	PUNCT
cblr-1780	597	25	at	at	ADP
cblr-1780	597	26	c1	c1	NOUN
cblr-1780	597	27	.	.	PUNCT
cblr-1780	598	1	134	134	NUM
cblr-1780	598	2	apple	apple	NOUN
cblr-1780	598	3	market	market	NOUN
cblr-1780	598	4	cap	cap	NOUN
cblr-1780	598	5	,	,	PUNCT
cblr-1780	598	6	ycharts	ychart	NOUN
cblr-1780	598	7	,	,	PUNCT
cblr-1780	598	8	available	available	ADJ
cblr-1780	598	9	at	at	ADP
cblr-1780	598	10	http://perma.cc/9bkaaysd	http://perma.cc/9bkaaysd	PROPN
cblr-1780	598	11	(	(	PUNCT
cblr-1780	598	12	last	last	ADV
cblr-1780	598	13	visited	visit	VERB
cblr-1780	598	14	nov	nov	PROPN
cblr-1780	598	15	.	.	PROPN
cblr-1780	598	16	24	24	NUM
cblr-1780	598	17	,	,	PUNCT
cblr-1780	598	18	2014	2014	NUM
cblr-1780	598	19	)	)	PUNCT
cblr-1780	598	20	.	.	PUNCT
cblr-1780	599	1	apple	apple	PROPN
cblr-1780	599	2	inc	inc	PROPN
cblr-1780	599	3	.	.	PROPN
cblr-1780	599	4	’s	’s	PART
cblr-1780	599	5	market	market	NOUN
cblr-1780	599	6	capitalization	capitalization	NOUN
cblr-1780	599	7	was	be	AUX
cblr-1780	599	8	in	in	ADP
cblr-1780	599	9	excess	excess	NOUN
cblr-1780	599	10	of	of	ADP
cblr-1780	599	11	$	$	SYM
cblr-1780	599	12	500	500	NUM
cblr-1780	599	13	billion	billion	NUM
cblr-1780	599	14	at	at	ADP
cblr-1780	599	15	the	the	DET
cblr-1780	599	16	end	end	NOUN
cblr-1780	599	17	of	of	ADP
cblr-1780	599	18	the	the	DET
cblr-1780	599	19	day	day	NOUN
cblr-1780	599	20	on	on	ADP
cblr-1780	599	21	may	may	PROPN
cblr-1780	599	22	13	13	NUM
cblr-1780	599	23	,	,	PUNCT
cblr-1780	599	24	2014	2014	NUM
cblr-1780	599	25	;	;	PUNCT
cblr-1780	599	26	guttentag	guttentag	NOUN
cblr-1780	599	27	,	,	PUNCT
cblr-1780	599	28	patching	patch	VERB
cblr-1780	599	29	a	a	DET
cblr-1780	599	30	hole	hole	NOUN
cblr-1780	599	31	,	,	PUNCT
cblr-1780	599	32	supra	supra	PROPN
cblr-1780	599	33	note	note	PROPN
cblr-1780	599	34	100	100	NUM
cblr-1780	599	35	,	,	PUNCT
cblr-1780	599	36	at	at	ADP
cblr-1780	599	37	200–05	200–05	NOUN
cblr-1780	599	38	.	.	PUNCT
cblr-1780	600	1	135	135	NUM
cblr-1780	600	2	this	this	PRON
cblr-1780	600	3	is	be	AUX
cblr-1780	600	4	probably	probably	ADV
cblr-1780	600	5	true	true	ADJ
cblr-1780	600	6	even	even	ADV
cblr-1780	600	7	when	when	SCONJ
cblr-1780	600	8	disclosure	disclosure	NOUN
cblr-1780	600	9	regulations	regulation	NOUN
cblr-1780	600	10	vary	vary	VERB
cblr-1780	600	11	by	by	ADP
cblr-1780	600	12	firm	firm	ADJ
cblr-1780	600	13	size	size	NOUN
cblr-1780	600	14	to	to	ADP
cblr-1780	600	15	some	some	DET
cblr-1780	600	16	degree	degree	NOUN
cblr-1780	600	17	.	.	PUNCT
cblr-1780	601	1	for	for	ADP
cblr-1780	601	2	a	a	DET
cblr-1780	601	3	review	review	NOUN
cblr-1780	601	4	of	of	ADP
cblr-1780	601	5	size	size	NOUN
cblr-1780	601	6	-	-	PUNCT
cblr-1780	601	7	based	base	VERB
cblr-1780	601	8	disclosure	disclosure	NOUN
cblr-1780	601	9	obligations	obligation	NOUN
cblr-1780	601	10	in	in	ADP
cblr-1780	601	11	federal	federal	ADJ
cblr-1780	601	12	securities	security	NOUN
cblr-1780	601	13	regulation	regulation	NOUN
cblr-1780	601	14	,	,	PUNCT
cblr-1780	601	15	see	see	VERB
cblr-1780	601	16	choi	choi	NOUN
cblr-1780	601	17	&	&	CCONJ
cblr-1780	601	18	pritchard	pritchard	PROPN
cblr-1780	601	19	,	,	PUNCT
cblr-1780	601	20	supra	supra	PROPN
cblr-1780	601	21	note	note	VERB
cblr-1780	601	22	87	87	NUM
cblr-1780	601	23	,	,	PUNCT
cblr-1780	601	24	at	at	ADP
cblr-1780	601	25	409–10	409–10	NUM
cblr-1780	601	26	;	;	PUNCT
cblr-1780	601	27	coffee	coffee	NOUN
cblr-1780	601	28	&	&	CCONJ
cblr-1780	601	29	sale	sale	PROPN
cblr-1780	601	30	,	,	PUNCT
cblr-1780	601	31	supra	supra	PROPN
cblr-1780	601	32	note	note	PROPN
cblr-1780	601	33	87	87	NUM
cblr-1780	601	34	,	,	PUNCT
cblr-1780	601	35	at	at	ADP
cblr-1780	601	36	151–53	151–53	NUM
cblr-1780	601	37	.	.	PUNCT
cblr-1780	602	1	guttentag	guttentag	NOUN
cblr-1780	602	2	–	–	PUNCT
cblr-1780	602	3	final	final	ADJ
cblr-1780	602	4	no	no	NOUN
cblr-1780	602	5	.	.	PUNCT
cblr-1780	603	1	3:593	3:593	NUM
cblr-1780	603	2	]	]	PUNCT
cblr-1780	603	3	on	on	ADP
cblr-1780	603	4	political	political	ADJ
cblr-1780	603	5	spending	spending	NOUN
cblr-1780	603	6	disclosure	disclosure	NOUN
cblr-1780	603	7	635	635	NUM
cblr-1780	603	8	companies	company	NOUN
cblr-1780	603	9	has	have	VERB
cblr-1780	603	10	to	to	PART
cblr-1780	603	11	do	do	VERB
cblr-1780	603	12	with	with	ADP
cblr-1780	603	13	one	one	NUM
cblr-1780	603	14	of	of	ADP
cblr-1780	603	15	the	the	DET
cblr-1780	603	16	potential	potential	ADJ
cblr-1780	603	17	ramifications	ramification	NOUN
cblr-1780	603	18	of	of	ADP
cblr-1780	603	19	increasing	increase	VERB
cblr-1780	603	20	the	the	DET
cblr-1780	603	21	disclosure	disclosure	NOUN
cblr-1780	603	22	burden	burden	NOUN
cblr-1780	603	23	on	on	ADP
cblr-1780	603	24	public	public	ADJ
cblr-1780	603	25	companies	company	NOUN
cblr-1780	603	26	in	in	ADP
cblr-1780	603	27	general	general	ADJ
cblr-1780	603	28	.	.	PUNCT
cblr-1780	604	1	it	it	PRON
cblr-1780	604	2	is	be	AUX
cblr-1780	604	3	not	not	PART
cblr-1780	604	4	the	the	DET
cblr-1780	604	5	case	case	NOUN
cblr-1780	604	6	that	that	SCONJ
cblr-1780	604	7	firms	firm	NOUN
cblr-1780	604	8	have	have	AUX
cblr-1780	604	9	no	no	DET
cblr-1780	604	10	choice	choice	NOUN
cblr-1780	604	11	but	but	SCONJ
cblr-1780	604	12	to	to	PART
cblr-1780	604	13	comply	comply	VERB
cblr-1780	604	14	with	with	ADP
cblr-1780	604	15	any	any	DET
cblr-1780	604	16	topic	topic	NOUN
cblr-1780	604	17	-	-	PUNCT
cblr-1780	604	18	specific	specific	ADJ
cblr-1780	604	19	disclosure	disclosure	NOUN
cblr-1780	604	20	requirement	requirement	NOUN
cblr-1780	604	21	imposed	impose	VERB
cblr-1780	604	22	upon	upon	SCONJ
cblr-1780	604	23	them	they	PRON
cblr-1780	604	24	.	.	PUNCT
cblr-1780	605	1	there	there	PRON
cblr-1780	605	2	may	may	AUX
cblr-1780	605	3	be	be	AUX
cblr-1780	605	4	firms	firm	NOUN
cblr-1780	605	5	that	that	PRON
cblr-1780	605	6	view	view	VERB
cblr-1780	605	7	a	a	DET
cblr-1780	605	8	particular	particular	ADJ
cblr-1780	605	9	disclosure	disclosure	NOUN
cblr-1780	605	10	requirement	requirement	NOUN
cblr-1780	605	11	as	as	ADP
cblr-1780	605	12	too	too	ADV
cblr-1780	605	13	costly	costly	ADJ
cblr-1780	605	14	or	or	CCONJ
cblr-1780	605	15	otherwise	otherwise	ADV
cblr-1780	605	16	too	too	ADV
cblr-1780	605	17	burdensome	burdensome	ADJ
cblr-1780	605	18	to	to	PART
cblr-1780	605	19	comply	comply	VERB
cblr-1780	605	20	with	with	ADP
cblr-1780	605	21	,	,	PUNCT
cblr-1780	605	22	and	and	CCONJ
cblr-1780	605	23	that	that	SCONJ
cblr-1780	605	24	,	,	PUNCT
cblr-1780	605	25	therefore	therefore	ADV
cblr-1780	605	26	,	,	PUNCT
cblr-1780	605	27	choose	choose	VERB
cblr-1780	605	28	to	to	PART
cblr-1780	605	29	exit	exit	VERB
cblr-1780	605	30	or	or	CCONJ
cblr-1780	605	31	avoid	avoid	VERB
cblr-1780	605	32	the	the	DET
cblr-1780	605	33	public	public	ADJ
cblr-1780	605	34	company	company	NOUN
cblr-1780	605	35	disclosure	disclosure	NOUN
cblr-1780	605	36	regime	regime	NOUN
cblr-1780	605	37	rather	rather	ADV
cblr-1780	605	38	than	than	ADP
cblr-1780	605	39	comply	comply	ADJ
cblr-1780	605	40	.	.	PUNCT
cblr-1780	606	1	with	with	ADP
cblr-1780	606	2	the	the	DET
cblr-1780	606	3	passage	passage	NOUN
cblr-1780	606	4	of	of	ADP
cblr-1780	606	5	the	the	DET
cblr-1780	606	6	jobs	job	NOUN
cblr-1780	606	7	act	act	VERB
cblr-1780	606	8	in	in	ADP
cblr-1780	606	9	2012	2012	NUM
cblr-1780	606	10	,	,	PUNCT
cblr-1780	606	11	it	it	PRON
cblr-1780	606	12	is	be	AUX
cblr-1780	606	13	not	not	PART
cblr-1780	606	14	especially	especially	ADV
cblr-1780	606	15	difficult	difficult	ADJ
cblr-1780	606	16	for	for	SCONJ
cblr-1780	606	17	many	many	ADJ
cblr-1780	606	18	firms	firm	NOUN
cblr-1780	606	19	to	to	PART
cblr-1780	606	20	avoid	avoid	VERB
cblr-1780	606	21	a	a	DET
cblr-1780	606	22	topic	topic	NOUN
cblr-1780	606	23	-	-	PUNCT
cblr-1780	606	24	specific	specific	ADJ
cblr-1780	606	25	disclosure	disclosure	NOUN
cblr-1780	606	26	requirement	requirement	NOUN
cblr-1780	606	27	they	they	PRON
cblr-1780	606	28	dislike	dislike	VERB
cblr-1780	606	29	by	by	ADP
cblr-1780	606	30	avoiding	avoid	VERB
cblr-1780	606	31	the	the	DET
cblr-1780	606	32	public	public	ADJ
cblr-1780	606	33	company	company	NOUN
cblr-1780	606	34	disclosure	disclosure	NOUN
cblr-1780	606	35	regime	regime	NOUN
cblr-1780	606	36	entirely.136	entirely.136	NOUN
cblr-1780	606	37	moreover	moreover	ADV
cblr-1780	606	38	,	,	PUNCT
cblr-1780	606	39	a	a	DET
cblr-1780	606	40	firm	firm	NOUN
cblr-1780	606	41	’s	’s	PART
cblr-1780	606	42	choice	choice	NOUN
cblr-1780	606	43	to	to	PART
cblr-1780	606	44	avoid	avoid	VERB
cblr-1780	606	45	or	or	CCONJ
cblr-1780	606	46	exit	exit	VERB
cblr-1780	606	47	from	from	ADP
cblr-1780	606	48	public	public	ADJ
cblr-1780	606	49	disclosure	disclosure	NOUN
cblr-1780	606	50	obligations	obligation	NOUN
cblr-1780	606	51	in	in	ADP
cblr-1780	606	52	response	response	NOUN
cblr-1780	606	53	to	to	ADP
cblr-1780	606	54	new	new	ADJ
cblr-1780	606	55	disclosure	disclosure	NOUN
cblr-1780	606	56	requirements	requirement	NOUN
cblr-1780	606	57	may	may	AUX
cblr-1780	606	58	have	have	VERB
cblr-1780	606	59	undesirable	undesirable	ADJ
cblr-1780	606	60	repercussions	repercussion	NOUN
cblr-1780	606	61	.	.	PUNCT
cblr-1780	607	1	the	the	DET
cblr-1780	607	2	imposition	imposition	NOUN
cblr-1780	607	3	of	of	ADP
cblr-1780	607	4	costly	costly	ADJ
cblr-1780	607	5	disclosure	disclosure	NOUN
cblr-1780	607	6	requirements	requirement	NOUN
cblr-1780	607	7	could	could	AUX
cblr-1780	607	8	,	,	PUNCT
cblr-1780	607	9	for	for	ADP
cblr-1780	607	10	example	example	NOUN
cblr-1780	607	11	,	,	PUNCT
cblr-1780	607	12	reward	reward	VERB
cblr-1780	607	13	financial	financial	ADJ
cblr-1780	607	14	intermediaries	intermediary	NOUN
cblr-1780	607	15	that	that	PRON
cblr-1780	607	16	help	help	VERB
cblr-1780	607	17	firms	firm	NOUN
cblr-1780	607	18	avoid	avoid	VERB
cblr-1780	607	19	public	public	ADJ
cblr-1780	607	20	securities	security	NOUN
cblr-1780	607	21	markets	market	NOUN
cblr-1780	607	22	,	,	PUNCT
cblr-1780	607	23	rather	rather	ADV
cblr-1780	607	24	than	than	ADP
cblr-1780	607	25	provide	provide	VERB
cblr-1780	607	26	any	any	DET
cblr-1780	607	27	benefit	benefit	NOUN
cblr-1780	607	28	to	to	ADP
cblr-1780	607	29	the	the	DET
cblr-1780	607	30	firms	firm	NOUN
cblr-1780	607	31	’	'	PUNCT
cblr-1780	607	32	ultimate	ultimate	ADJ
cblr-1780	607	33	investors.137	investors.137	NOUN
cblr-1780	607	34	the	the	DET
cblr-1780	607	35	fourth	fourth	ADJ
cblr-1780	607	36	reason	reason	NOUN
cblr-1780	607	37	that	that	SCONJ
cblr-1780	607	38	the	the	DET
cblr-1780	607	39	presumption	presumption	NOUN
cblr-1780	607	40	should	should	AUX
cblr-1780	607	41	be	be	AUX
cblr-1780	607	42	against	against	ADP
cblr-1780	607	43	imposing	impose	VERB
cblr-1780	607	44	topic	topic	NOUN
cblr-1780	607	45	-	-	PUNCT
cblr-1780	607	46	specific	specific	ADJ
cblr-1780	607	47	disclosure	disclosure	NOUN
cblr-1780	607	48	obligations	obligation	NOUN
cblr-1780	607	49	on	on	ADP
cblr-1780	607	50	public	public	ADJ
cblr-1780	607	51	companies	company	NOUN
cblr-1780	607	52	has	have	VERB
cblr-1780	607	53	to	to	PART
cblr-1780	607	54	do	do	VERB
cblr-1780	607	55	with	with	ADP
cblr-1780	607	56	the	the	DET
cblr-1780	607	57	availability	availability	NOUN
cblr-1780	607	58	of	of	ADP
cblr-1780	607	59	private	private	ADJ
cblr-1780	607	60	ordering.138	ordering.138	PROPN
cblr-1780	607	61	there	there	PRON
cblr-1780	607	62	are	be	VERB
cblr-1780	607	63	likely	likely	ADV
cblr-1780	607	64	many	many	ADJ
cblr-1780	607	65	firms	firm	NOUN
cblr-1780	607	66	that	that	PRON
cblr-1780	607	67	would	would	AUX
cblr-1780	607	68	benefit	benefit	VERB
cblr-1780	607	69	from	from	ADP
cblr-1780	607	70	a	a	DET
cblr-1780	607	71	commitment	commitment	NOUN
cblr-1780	607	72	to	to	PART
cblr-1780	607	73	disclose	disclose	VERB
cblr-1780	607	74	specific	specific	ADJ
cblr-1780	607	75	categories	category	NOUN
cblr-1780	607	76	of	of	ADP
cblr-1780	607	77	information	information	NOUN
cblr-1780	607	78	.	.	PUNCT
cblr-1780	608	1	in	in	ADP
cblr-1780	608	2	fact	fact	NOUN
cblr-1780	608	3	,	,	PUNCT
cblr-1780	608	4	many	many	ADJ
cblr-1780	608	5	public	public	ADJ
cblr-1780	608	6	firms	firm	NOUN
cblr-1780	608	7	already	already	ADV
cblr-1780	608	8	provide	provide	VERB
cblr-1780	608	9	investors	investor	NOUN
cblr-1780	608	10	information	information	NOUN
cblr-1780	608	11	in	in	ADP
cblr-1780	608	12	addition	addition	NOUN
cblr-1780	608	13	to	to	ADP
cblr-1780	608	14	that	that	PRON
cblr-1780	608	15	required	require	VERB
cblr-1780	608	16	by	by	ADP
cblr-1780	608	17	federal	federal	ADJ
cblr-1780	608	18	periodic	periodic	ADJ
cblr-1780	608	19	reporting	reporting	NOUN
cblr-1780	608	20	requirements	requirement	NOUN
cblr-1780	608	21	.	.	PUNCT
cblr-1780	609	1	perhaps	perhaps	ADV
cblr-1780	609	2	including	include	VERB
cblr-1780	609	3	these	these	DET
cblr-1780	609	4	kinds	kind	NOUN
cblr-1780	609	5	of	of	ADP
cblr-1780	609	6	supplemental	supplemental	ADJ
cblr-1780	609	7	disclosures	disclosure	NOUN
cblr-1780	609	8	in	in	ADP
cblr-1780	609	9	the	the	DET
cblr-1780	609	10	mandatory	mandatory	ADJ
cblr-1780	609	11	disclosure	disclosure	NOUN
cblr-1780	609	12	regime	regime	NOUN
cblr-1780	609	13	would	would	AUX
cblr-1780	609	14	make	make	VERB
cblr-1780	609	15	a	a	DET
cblr-1780	609	16	firm	firm	NOUN
cblr-1780	609	17	’s	’s	PART
cblr-1780	609	18	commitment	commitment	NOUN
cblr-1780	609	19	to	to	ADP
cblr-1780	609	20	such	such	ADJ
cblr-1780	609	21	ongoing	ongoing	ADJ
cblr-1780	609	22	disclosure	disclosure	NOUN
cblr-1780	609	23	more	more	ADJ
cblr-1780	609	24	credible.139	credible.139	NOUN
cblr-1780	609	25	however	however	ADV
cblr-1780	609	26	,	,	PUNCT
cblr-1780	609	27	firms	firm	NOUN
cblr-1780	609	28	probably	probably	ADV
cblr-1780	609	29	136	136	NUM
cblr-1780	609	30	see	see	VERB
cblr-1780	609	31	supra	supra	PROPN
cblr-1780	609	32	notes	note	VERB
cblr-1780	609	33	105–111	105–111	NUM
cblr-1780	609	34	and	and	CCONJ
cblr-1780	609	35	accompanying	accompany	VERB
cblr-1780	609	36	text	text	NOUN
cblr-1780	609	37	.	.	PUNCT
cblr-1780	610	1	137	137	NUM
cblr-1780	610	2	in	in	ADP
cblr-1780	610	3	his	his	PRON
cblr-1780	610	4	comment	comment	NOUN
cblr-1780	610	5	letter	letter	NOUN
cblr-1780	610	6	to	to	ADP
cblr-1780	610	7	the	the	DET
cblr-1780	610	8	sec	sec	PROPN
cblr-1780	610	9	on	on	ADP
cblr-1780	610	10	the	the	DET
cblr-1780	610	11	bebchuk	bebchuk	NOUN
cblr-1780	610	12	proposal	proposal	NOUN
cblr-1780	610	13	,	,	PUNCT
cblr-1780	610	14	professor	professor	NOUN
cblr-1780	610	15	james	james	PROPN
cblr-1780	610	16	angel	angel	PROPN
cblr-1780	610	17	identified	identify	VERB
cblr-1780	610	18	avoidance	avoidance	NOUN
cblr-1780	610	19	of	of	ADP
cblr-1780	610	20	public	public	ADJ
cblr-1780	610	21	markets	market	NOUN
cblr-1780	610	22	as	as	ADP
cblr-1780	610	23	one	one	NUM
cblr-1780	610	24	possible	possible	ADJ
cblr-1780	610	25	response	response	NOUN
cblr-1780	610	26	to	to	ADP
cblr-1780	610	27	a	a	DET
cblr-1780	610	28	mandatory	mandatory	ADJ
cblr-1780	610	29	public	public	ADJ
cblr-1780	610	30	company	company	NOUN
cblr-1780	610	31	political	political	ADJ
cblr-1780	610	32	spending	spending	NOUN
cblr-1780	610	33	disclosure	disclosure	NOUN
cblr-1780	610	34	obligation	obligation	NOUN
cblr-1780	610	35	.	.	PUNCT
cblr-1780	611	1	angel	angel	NOUN
cblr-1780	611	2	letter	letter	PROPN
cblr-1780	611	3	,	,	PUNCT
cblr-1780	611	4	supra	supra	PROPN
cblr-1780	611	5	note	note	PROPN
cblr-1780	611	6	28	28	NUM
cblr-1780	611	7	,	,	PUNCT
cblr-1780	611	8	at	at	ADP
cblr-1780	611	9	1–4	1–4	PROPN
cblr-1780	611	10	.	.	PUNCT
cblr-1780	612	1	see	see	VERB
cblr-1780	612	2	also	also	ADV
cblr-1780	612	3	victor	victor	PROPN
cblr-1780	612	4	fleischer	fleischer	PROPN
cblr-1780	612	5	,	,	PUNCT
cblr-1780	612	6	regulatory	regulatory	ADJ
cblr-1780	612	7	arbitrage	arbitrage	NOUN
cblr-1780	612	8	,	,	PUNCT
cblr-1780	612	9	89	89	NUM
cblr-1780	612	10	tex	tex	PROPN
cblr-1780	612	11	.	.	PROPN
cblr-1780	612	12	l.	l.	PROPN
cblr-1780	612	13	rev	rev	PROPN
cblr-1780	612	14	.	.	PROPN
cblr-1780	612	15	227	227	NUM
cblr-1780	612	16	,	,	PUNCT
cblr-1780	612	17	229	229	NUM
cblr-1780	612	18	(	(	PUNCT
cblr-1780	612	19	2010	2010	NUM
cblr-1780	612	20	)	)	PUNCT
cblr-1780	612	21	.	.	PUNCT
cblr-1780	613	1	138	138	NUM
cblr-1780	613	2	see	see	VERB
cblr-1780	613	3	supra	supra	PROPN
cblr-1780	613	4	notes	note	VERB
cblr-1780	613	5	96–100	96–100	PROPN
cblr-1780	613	6	and	and	CCONJ
cblr-1780	613	7	accompanying	accompany	VERB
cblr-1780	613	8	text	text	NOUN
cblr-1780	613	9	.	.	PUNCT
cblr-1780	614	1	139	139	NUM
cblr-1780	614	2	rock	rock	NOUN
cblr-1780	614	3	,	,	PUNCT
cblr-1780	614	4	supra	supra	PROPN
cblr-1780	614	5	note	note	PROPN
cblr-1780	614	6	72	72	NUM
cblr-1780	614	7	,	,	PUNCT
cblr-1780	614	8	at	at	ADP
cblr-1780	614	9	676	676	NUM
cblr-1780	614	10	,	,	PUNCT
cblr-1780	614	11	685	685	NUM
cblr-1780	614	12	(	(	PUNCT
cblr-1780	614	13	arguing	argue	VERB
cblr-1780	614	14	that	that	SCONJ
cblr-1780	614	15	“	"	PUNCT
cblr-1780	614	16	an	an	DET
cblr-1780	614	17	important	important	ADJ
cblr-1780	614	18	but	but	CCONJ
cblr-1780	614	19	largely	largely	ADV
cblr-1780	614	20	unappreciated	unappreciated	ADJ
cblr-1780	614	21	function	function	NOUN
cblr-1780	614	22	of	of	ADP
cblr-1780	614	23	the	the	DET
cblr-1780	614	24	u.s	u.s	PROPN
cblr-1780	614	25	.	.	PROPN
cblr-1780	614	26	mandatory	mandatory	ADJ
cblr-1780	614	27	disclosure	disclosure	NOUN
cblr-1780	614	28	regime	regime	NOUN
cblr-1780	614	29	is	be	AUX
cblr-1780	614	30	guttentag	guttentag	NOUN
cblr-1780	614	31	–	–	PUNCT
cblr-1780	614	32	final	final	ADJ
cblr-1780	614	33	636	636	NUM
cblr-1780	614	34	columbia	columbia	PROPN
cblr-1780	614	35	business	business	NOUN
cblr-1780	614	36	law	law	PROPN
cblr-1780	614	37	review	review	NOUN
cblr-1780	614	38	[	[	X
cblr-1780	614	39	vol	vol	NOUN
cblr-1780	614	40	.	.	PUNCT
cblr-1780	614	41	2014	2014	NUM
cblr-1780	614	42	already	already	ADV
cblr-1780	614	43	would	would	AUX
cblr-1780	614	44	anticipate	anticipate	VERB
cblr-1780	614	45	retribution	retribution	NOUN
cblr-1780	614	46	if	if	SCONJ
cblr-1780	614	47	they	they	PRON
cblr-1780	614	48	choose	choose	VERB
cblr-1780	614	49	to	to	PART
cblr-1780	614	50	reverse	reverse	VERB
cblr-1780	614	51	past	past	ADJ
cblr-1780	614	52	disclosure	disclosure	NOUN
cblr-1780	614	53	practices	practice	NOUN
cblr-1780	614	54	without	without	ADP
cblr-1780	614	55	a	a	DET
cblr-1780	614	56	legitimate	legitimate	ADJ
cblr-1780	614	57	justification	justification	NOUN
cblr-1780	614	58	for	for	ADP
cblr-1780	614	59	doing	do	VERB
cblr-1780	614	60	so	so	ADV
cblr-1780	614	61	.	.	PUNCT
cblr-1780	615	1	the	the	DET
cblr-1780	615	2	choice	choice	NOUN
cblr-1780	615	3	to	to	PART
cblr-1780	615	4	rely	rely	VERB
cblr-1780	615	5	on	on	ADP
cblr-1780	615	6	private	private	ADJ
cblr-1780	615	7	ordering	ordering	NOUN
cblr-1780	615	8	to	to	PART
cblr-1780	615	9	determine	determine	VERB
cblr-1780	615	10	individual	individual	ADJ
cblr-1780	615	11	firm	firm	ADJ
cblr-1780	615	12	disclosure	disclosure	NOUN
cblr-1780	615	13	commitments	commitment	NOUN
cblr-1780	615	14	is	be	AUX
cblr-1780	615	15	likely	likely	ADV
cblr-1780	615	16	superior	superior	ADJ
cblr-1780	615	17	to	to	ADP
cblr-1780	615	18	regulatory	regulatory	ADJ
cblr-1780	615	19	intervention	intervention	NOUN
cblr-1780	615	20	,	,	PUNCT
cblr-1780	615	21	unless	unless	SCONJ
cblr-1780	615	22	there	there	PRON
cblr-1780	615	23	is	be	VERB
cblr-1780	615	24	evidence	evidence	NOUN
cblr-1780	615	25	of	of	ADP
cblr-1780	615	26	some	some	DET
cblr-1780	615	27	significant	significant	ADJ
cblr-1780	615	28	market	market	NOUN
cblr-1780	615	29	failure.140	failure.140	NOUN
cblr-1780	615	30	a	a	DET
cblr-1780	615	31	fifth	fifth	ADJ
cblr-1780	615	32	reason	reason	NOUN
cblr-1780	615	33	that	that	SCONJ
cblr-1780	615	34	the	the	DET
cblr-1780	615	35	presumption	presumption	NOUN
cblr-1780	615	36	should	should	AUX
cblr-1780	615	37	be	be	AUX
cblr-1780	615	38	against	against	ADP
cblr-1780	615	39	imposing	impose	VERB
cblr-1780	615	40	topic	topic	NOUN
cblr-1780	615	41	-	-	PUNCT
cblr-1780	615	42	specific	specific	ADJ
cblr-1780	615	43	disclosure	disclosure	NOUN
cblr-1780	615	44	obligations	obligation	NOUN
cblr-1780	615	45	on	on	ADP
cblr-1780	615	46	public	public	ADJ
cblr-1780	615	47	companies	company	NOUN
cblr-1780	615	48	has	have	VERB
cblr-1780	615	49	to	to	PART
cblr-1780	615	50	do	do	VERB
cblr-1780	615	51	with	with	ADP
cblr-1780	615	52	challenges	challenge	NOUN
cblr-1780	615	53	to	to	PART
cblr-1780	615	54	rolling	roll	VERB
cblr-1780	615	55	back	back	ADP
cblr-1780	615	56	disclosure	disclosure	NOUN
cblr-1780	615	57	obligations	obligation	NOUN
cblr-1780	615	58	once	once	SCONJ
cblr-1780	615	59	they	they	PRON
cblr-1780	615	60	are	be	AUX
cblr-1780	615	61	imposed	impose	VERB
cblr-1780	615	62	.	.	PUNCT
cblr-1780	616	1	the	the	DET
cblr-1780	616	2	extent	extent	NOUN
cblr-1780	616	3	of	of	ADP
cblr-1780	616	4	disclosure	disclosure	NOUN
cblr-1780	616	5	obligations	obligation	NOUN
cblr-1780	616	6	imposed	impose	VERB
cblr-1780	616	7	on	on	ADP
cblr-1780	616	8	public	public	ADJ
cblr-1780	616	9	companies	company	NOUN
cblr-1780	616	10	is	be	AUX
cblr-1780	616	11	steadily	steadily	ADV
cblr-1780	616	12	increasing.141	increasing.141	VERB
cblr-1780	616	13	one	one	NUM
cblr-1780	616	14	explanation	explanation	NOUN
cblr-1780	616	15	for	for	ADP
cblr-1780	616	16	this	this	DET
cblr-1780	616	17	phenomenon	phenomenon	NOUN
cblr-1780	616	18	is	be	AUX
cblr-1780	616	19	that	that	SCONJ
cblr-1780	616	20	it	it	PRON
cblr-1780	616	21	is	be	AUX
cblr-1780	616	22	even	even	ADV
cblr-1780	616	23	more	more	ADV
cblr-1780	616	24	difficult	difficult	ADJ
cblr-1780	616	25	to	to	PART
cblr-1780	616	26	eliminate	eliminate	VERB
cblr-1780	616	27	a	a	DET
cblr-1780	616	28	disclosure	disclosure	NOUN
cblr-1780	616	29	obligation	obligation	NOUN
cblr-1780	616	30	once	once	ADV
cblr-1780	616	31	imposed	impose	VERB
cblr-1780	616	32	than	than	SCONJ
cblr-1780	616	33	it	it	PRON
cblr-1780	616	34	is	be	AUX
cblr-1780	616	35	to	to	PART
cblr-1780	616	36	impose	impose	VERB
cblr-1780	616	37	one	one	NUM
cblr-1780	616	38	in	in	ADP
cblr-1780	616	39	the	the	DET
cblr-1780	616	40	first	first	ADJ
cblr-1780	616	41	place.142	place.142	PROPN
cblr-1780	616	42	ideally	ideally	ADV
cblr-1780	616	43	,	,	PUNCT
cblr-1780	616	44	it	it	PRON
cblr-1780	616	45	would	would	AUX
cblr-1780	616	46	be	be	AUX
cblr-1780	616	47	feasible	feasible	ADJ
cblr-1780	616	48	to	to	PART
cblr-1780	616	49	experiment	experiment	VERB
cblr-1780	616	50	with	with	ADP
cblr-1780	616	51	the	the	DET
cblr-1780	616	52	introduction	introduction	NOUN
cblr-1780	616	53	of	of	ADP
cblr-1780	616	54	new	new	ADJ
cblr-1780	616	55	disclosure	disclosure	NOUN
cblr-1780	616	56	obligations	obligation	NOUN
cblr-1780	616	57	and	and	CCONJ
cblr-1780	616	58	then	then	ADV
cblr-1780	616	59	remove	remove	VERB
cblr-1780	616	60	them	they	PRON
cblr-1780	616	61	if	if	SCONJ
cblr-1780	616	62	the	the	DET
cblr-1780	616	63	resulting	result	VERB
cblr-1780	616	64	evidence	evidence	NOUN
cblr-1780	616	65	showed	show	VERB
cblr-1780	616	66	that	that	SCONJ
cblr-1780	616	67	the	the	DET
cblr-1780	616	68	costs	cost	NOUN
cblr-1780	616	69	of	of	ADP
cblr-1780	616	70	the	the	DET
cblr-1780	616	71	disclosure	disclosure	NOUN
cblr-1780	616	72	obligation	obligation	NOUN
cblr-1780	616	73	exceeded	exceed	VERB
cblr-1780	616	74	the	the	DET
cblr-1780	616	75	benefits	benefit	NOUN
cblr-1780	616	76	.	.	PUNCT
cblr-1780	617	1	however	however	ADV
cblr-1780	617	2	,	,	PUNCT
cblr-1780	617	3	our	our	PRON
cblr-1780	617	4	disclosure	disclosure	NOUN
cblr-1780	617	5	system	system	NOUN
cblr-1780	617	6	is	be	AUX
cblr-1780	617	7	not	not	PART
cblr-1780	617	8	yet	yet	ADV
cblr-1780	617	9	that	that	PRON
cblr-1780	617	10	facile	facile	ADJ
cblr-1780	617	11	,	,	PUNCT
cblr-1780	617	12	and	and	CCONJ
cblr-1780	617	13	a	a	DET
cblr-1780	617	14	disclosure	disclosure	NOUN
cblr-1780	617	15	obligation	obligation	NOUN
cblr-1780	617	16	once	once	ADV
cblr-1780	617	17	imposed	impose	VERB
cblr-1780	617	18	is	be	AUX
cblr-1780	617	19	likely	likely	ADJ
cblr-1780	617	20	to	to	PART
cblr-1780	617	21	remain	remain	VERB
cblr-1780	617	22	in	in	ADP
cblr-1780	617	23	place	place	NOUN
cblr-1780	617	24	for	for	ADP
cblr-1780	617	25	no	no	DET
cblr-1780	617	26	other	other	ADJ
cblr-1780	617	27	reason	reason	NOUN
cblr-1780	617	28	than	than	ADP
cblr-1780	617	29	administrative	administrative	ADJ
cblr-1780	617	30	inertia	inertia	NOUN
cblr-1780	617	31	.	.	PUNCT
cblr-1780	618	1	a	a	DET
cblr-1780	618	2	nimble	nimble	ADJ
cblr-1780	618	3	public	public	ADJ
cblr-1780	618	4	company	company	NOUN
cblr-1780	618	5	disclosure	disclosure	NOUN
cblr-1780	618	6	regime	regime	NOUN
cblr-1780	618	7	would	would	AUX
cblr-1780	618	8	be	be	AUX
cblr-1780	618	9	one	one	NUM
cblr-1780	618	10	in	in	ADP
cblr-1780	618	11	which	which	PRON
cblr-1780	618	12	disclosure	disclosure	NOUN
cblr-1780	618	13	obligations	obligation	NOUN
cblr-1780	618	14	are	be	AUX
cblr-1780	618	15	regularly	regularly	ADV
cblr-1780	618	16	imposed	impose	VERB
cblr-1780	618	17	and	and	CCONJ
cblr-1780	618	18	removed	remove	VERB
cblr-1780	618	19	in	in	ADP
cblr-1780	618	20	an	an	DET
cblr-1780	618	21	ever	ever	ADV
cblr-1780	618	22	-	-	PUNCT
cblr-1780	618	23	improving	improve	VERB
cblr-1780	618	24	process	process	NOUN
cblr-1780	618	25	that	that	PRON
cblr-1780	618	26	systematically	systematically	ADV
cblr-1780	618	27	the	the	DET
cblr-1780	618	28	extent	extent	NOUN
cblr-1780	618	29	to	to	PART
cblr-1780	618	30	which	which	PRON
cblr-1780	618	31	it	it	PRON
cblr-1780	618	32	permits	permit	VERB
cblr-1780	618	33	issuers	issuer	NOUN
cblr-1780	618	34	to	to	PART
cblr-1780	618	35	make	make	VERB
cblr-1780	618	36	a	a	DET
cblr-1780	618	37	credible	credible	ADJ
cblr-1780	618	38	commitment	commitment	NOUN
cblr-1780	618	39	to	to	ADP
cblr-1780	618	40	a	a	DET
cblr-1780	618	41	level	level	NOUN
cblr-1780	618	42	and	and	CCONJ
cblr-1780	618	43	permanence	permanence	NOUN
cblr-1780	618	44	of	of	ADP
cblr-1780	618	45	disclosure	disclosure	NOUN
cblr-1780	618	46	”	"	PUNCT
cblr-1780	618	47	)	)	PUNCT
cblr-1780	618	48	.	.	PUNCT
cblr-1780	619	1	140	140	NUM
cblr-1780	619	2	see	see	VERB
cblr-1780	619	3	infra	infra	NOUN
cblr-1780	619	4	part	part	NOUN
cblr-1780	619	5	iv.b	iv.b	NOUN
cblr-1780	619	6	.	.	PUNCT
cblr-1780	620	1	for	for	ADP
cblr-1780	620	2	a	a	DET
cblr-1780	620	3	detailed	detailed	ADJ
cblr-1780	620	4	consideration	consideration	NOUN
cblr-1780	620	5	of	of	ADP
cblr-1780	620	6	market	market	NOUN
cblr-1780	620	7	failure	failure	NOUN
cblr-1780	620	8	justifications	justification	NOUN
cblr-1780	620	9	for	for	ADP
cblr-1780	620	10	disclosure	disclosure	NOUN
cblr-1780	620	11	regulation	regulation	NOUN
cblr-1780	620	12	.	.	PUNCT
cblr-1780	621	1	141	141	NUM
cblr-1780	621	2	see	see	NOUN
cblr-1780	621	3	,	,	PUNCT
cblr-1780	621	4	e.g.	e.g.	ADV
cblr-1780	621	5	,	,	PUNCT
cblr-1780	621	6	angel	angel	NOUN
cblr-1780	621	7	letter	letter	NOUN
cblr-1780	621	8	,	,	PUNCT
cblr-1780	621	9	supra	supra	PROPN
cblr-1780	621	10	note	note	PROPN
cblr-1780	621	11	28	28	NUM
cblr-1780	621	12	,	,	PUNCT
cblr-1780	621	13	at	at	ADP
cblr-1780	621	14	3–4	3–4	NUM
cblr-1780	621	15	.	.	NOUN
cblr-1780	621	16	142	142	NUM
cblr-1780	621	17	one	one	NUM
cblr-1780	621	18	possible	possible	ADJ
cblr-1780	621	19	solution	solution	NOUN
cblr-1780	621	20	to	to	ADP
cblr-1780	621	21	this	this	DET
cblr-1780	621	22	difficulty	difficulty	NOUN
cblr-1780	621	23	would	would	AUX
cblr-1780	621	24	be	be	AUX
cblr-1780	621	25	to	to	PART
cblr-1780	621	26	include	include	VERB
cblr-1780	621	27	sunset	sunset	NOUN
cblr-1780	621	28	provisions	provision	NOUN
cblr-1780	621	29	in	in	ADP
cblr-1780	621	30	disclosure	disclosure	NOUN
cblr-1780	621	31	requirements	requirement	NOUN
cblr-1780	621	32	.	.	PUNCT
cblr-1780	622	1	despite	despite	SCONJ
cblr-1780	622	2	many	many	ADJ
cblr-1780	622	3	potential	potential	ADJ
cblr-1780	622	4	benefits	benefit	NOUN
cblr-1780	622	5	,	,	PUNCT
cblr-1780	622	6	sunset	sunset	NOUN
cblr-1780	622	7	provisions	provision	NOUN
cblr-1780	622	8	do	do	AUX
cblr-1780	622	9	not	not	PART
cblr-1780	622	10	appear	appear	VERB
cblr-1780	622	11	to	to	PART
cblr-1780	622	12	have	have	AUX
cblr-1780	622	13	garnered	garner	VERB
cblr-1780	622	14	widespread	widespread	ADJ
cblr-1780	622	15	acceptance	acceptance	NOUN
cblr-1780	622	16	in	in	ADP
cblr-1780	622	17	this	this	DET
cblr-1780	622	18	context	context	NOUN
cblr-1780	622	19	.	.	PUNCT
cblr-1780	623	1	see	see	VERB
cblr-1780	623	2	,	,	PUNCT
cblr-1780	623	3	e.g.	e.g.	ADV
cblr-1780	623	4	,	,	PUNCT
cblr-1780	623	5	roberta	roberta	PROPN
cblr-1780	623	6	romano	romano	PROPN
cblr-1780	623	7	,	,	PUNCT
cblr-1780	623	8	regulating	regulate	VERB
cblr-1780	623	9	in	in	ADP
cblr-1780	623	10	the	the	DET
cblr-1780	623	11	dark	dark	NOUN
cblr-1780	623	12	,	,	PUNCT
cblr-1780	623	13	in	in	ADP
cblr-1780	623	14	regulatory	regulatory	ADJ
cblr-1780	623	15	breakdown	breakdown	NOUN
cblr-1780	623	16	:	:	PUNCT
cblr-1780	623	17	the	the	DET
cblr-1780	623	18	crises	crisis	NOUN
cblr-1780	623	19	of	of	ADP
cblr-1780	623	20	confidence	confidence	NOUN
cblr-1780	623	21	in	in	ADP
cblr-1780	623	22	u.s	u.s	PROPN
cblr-1780	623	23	.	.	PROPN
cblr-1780	623	24	regulation	regulation	PROPN
cblr-1780	623	25	96–98	96–98	NUM
cblr-1780	623	26	,	,	PUNCT
cblr-1780	623	27	101	101	NUM
cblr-1780	623	28	(	(	PUNCT
cblr-1780	623	29	discussing	discuss	VERB
cblr-1780	623	30	opposition	opposition	NOUN
cblr-1780	623	31	to	to	ADP
cblr-1780	623	32	sunsetting	sunsetting	NOUN
cblr-1780	623	33	and	and	CCONJ
cblr-1780	623	34	possible	possible	ADJ
cblr-1780	623	35	reasons	reason	NOUN
cblr-1780	623	36	why	why	SCONJ
cblr-1780	623	37	it	it	PRON
cblr-1780	623	38	has	have	AUX
cblr-1780	623	39	not	not	PART
cblr-1780	623	40	been	be	AUX
cblr-1780	623	41	more	more	ADV
cblr-1780	623	42	widely	widely	ADV
cblr-1780	623	43	adopted	adopt	VERB
cblr-1780	623	44	)	)	PUNCT
cblr-1780	623	45	.	.	PUNCT
cblr-1780	624	1	but	but	CCONJ
cblr-1780	624	2	see	see	VERB
cblr-1780	624	3	,	,	PUNCT
cblr-1780	624	4	e.g.	e.g.	ADV
cblr-1780	624	5	,	,	PUNCT
cblr-1780	624	6	keith	keith	PROPN
cblr-1780	624	7	f.	f.	PROPN
cblr-1780	624	8	higgins	higgins	PROPN
cblr-1780	624	9	,	,	PUNCT
cblr-1780	624	10	div	div	PROPN
cblr-1780	624	11	.	.	PROPN
cblr-1780	624	12	of	of	ADP
cblr-1780	624	13	corp	corp	PROPN
cblr-1780	624	14	.	.	PROPN
cblr-1780	625	1	fin	fin	PROPN
cblr-1780	625	2	.	.	PUNCT
cblr-1780	626	1	dir	dir	PROPN
cblr-1780	626	2	.	.	PUNCT
cblr-1780	626	3	,	,	PUNCT
cblr-1780	626	4	u.s	u.s	PROPN
cblr-1780	626	5	.	.	PROPN
cblr-1780	626	6	sec	sec	PROPN
cblr-1780	626	7	.	.	PROPN
cblr-1780	626	8	&	&	CCONJ
cblr-1780	626	9	exch	exch	PROPN
cblr-1780	626	10	.	.	PUNCT
cblr-1780	627	1	comm’n	comm’n	PROPN
cblr-1780	627	2	,	,	PUNCT
cblr-1780	627	3	disclosure	disclosure	NOUN
cblr-1780	627	4	effectiveness	effectiveness	NOUN
cblr-1780	627	5	,	,	PUNCT
cblr-1780	627	6	remarks	remark	NOUN
cblr-1780	627	7	before	before	ADP
cblr-1780	627	8	the	the	DET
cblr-1780	627	9	american	american	PROPN
cblr-1780	627	10	bar	bar	PROPN
cblr-1780	627	11	association	association	PROPN
cblr-1780	627	12	business	business	NOUN
cblr-1780	627	13	law	law	NOUN
cblr-1780	627	14	section	section	NOUN
cblr-1780	627	15	spring	spring	NOUN
cblr-1780	627	16	meeting	meeting	NOUN
cblr-1780	627	17	(	(	PUNCT
cblr-1780	627	18	apr	apr	PROPN
cblr-1780	627	19	.	.	PROPN
cblr-1780	627	20	11	11	NUM
cblr-1780	627	21	,	,	PUNCT
cblr-1780	627	22	2014	2014	NUM
cblr-1780	627	23	)	)	PUNCT
cblr-1780	627	24	,	,	PUNCT
cblr-1780	627	25	available	available	ADJ
cblr-1780	627	26	at	at	ADP
cblr-1780	627	27	http://perma.cc/z8q5-ut38	http://perma.cc/z8q5-ut38	PROPN
cblr-1780	627	28	(	(	PUNCT
cblr-1780	627	29	arguing	argue	VERB
cblr-1780	627	30	for	for	ADP
cblr-1780	627	31	removing	remove	VERB
cblr-1780	627	32	disclosure	disclosure	NOUN
cblr-1780	627	33	when	when	SCONJ
cblr-1780	627	34	it	it	PRON
cblr-1780	627	35	is	be	AUX
cblr-1780	627	36	“	"	PUNCT
cblr-1780	627	37	immaterial	immaterial	ADJ
cblr-1780	627	38	or	or	CCONJ
cblr-1780	627	39	outdated	outdated	ADJ
cblr-1780	627	40	even	even	ADV
cblr-1780	627	41	if	if	SCONJ
cblr-1780	627	42	it	it	PRON
cblr-1780	627	43	was	be	AUX
cblr-1780	627	44	included	include	VERB
cblr-1780	627	45	in	in	ADP
cblr-1780	627	46	a	a	DET
cblr-1780	627	47	prior	prior	ADJ
cblr-1780	627	48	filing	filing	NOUN
cblr-1780	627	49	”	"	PUNCT
cblr-1780	627	50	)	)	PUNCT
cblr-1780	627	51	.	.	PUNCT
cblr-1780	628	1	guttentag	guttentag	NOUN
cblr-1780	628	2	–	–	PUNCT
cblr-1780	628	3	final	final	ADJ
cblr-1780	628	4	no	no	NOUN
cblr-1780	628	5	.	.	PUNCT
cblr-1780	629	1	3:593	3:593	NUM
cblr-1780	629	2	]	]	PUNCT
cblr-1780	629	3	on	on	ADP
cblr-1780	629	4	political	political	ADJ
cblr-1780	629	5	spending	spending	NOUN
cblr-1780	629	6	disclosure	disclosure	NOUN
cblr-1780	629	7	637	637	NUM
cblr-1780	629	8	lowers	lower	VERB
cblr-1780	629	9	capital	capital	NOUN
cblr-1780	629	10	costs	cost	NOUN
cblr-1780	629	11	for	for	ADP
cblr-1780	629	12	public	public	ADJ
cblr-1780	629	13	firms	firm	NOUN
cblr-1780	629	14	.	.	PUNCT
cblr-1780	630	1	our	our	PRON
cblr-1780	630	2	disclosure	disclosure	NOUN
cblr-1780	630	3	system	system	NOUN
cblr-1780	630	4	is	be	AUX
cblr-1780	630	5	not	not	PART
cblr-1780	630	6	such	such	DET
cblr-1780	630	7	a	a	DET
cblr-1780	630	8	system	system	NOUN
cblr-1780	630	9	,	,	PUNCT
cblr-1780	630	10	and	and	CCONJ
cblr-1780	630	11	for	for	ADP
cblr-1780	630	12	the	the	DET
cblr-1780	630	13	five	five	NUM
cblr-1780	630	14	reasons	reason	NOUN
cblr-1780	630	15	listed	list	VERB
cblr-1780	630	16	above	above	ADV
cblr-1780	630	17	,	,	PUNCT
cblr-1780	630	18	one	one	NUM
cblr-1780	630	19	implication	implication	NOUN
cblr-1780	630	20	of	of	ADP
cblr-1780	630	21	the	the	DET
cblr-1780	630	22	current	current	ADJ
cblr-1780	630	23	state	state	NOUN
cblr-1780	630	24	of	of	ADP
cblr-1780	630	25	the	the	DET
cblr-1780	630	26	mandatory	mandatory	ADJ
cblr-1780	630	27	disclosure	disclosure	NOUN
cblr-1780	630	28	regulation	regulation	NOUN
cblr-1780	630	29	in	in	ADP
cblr-1780	630	30	the	the	DET
cblr-1780	630	31	united	united	PROPN
cblr-1780	630	32	states	states	PROPN
cblr-1780	630	33	is	be	AUX
cblr-1780	630	34	that	that	SCONJ
cblr-1780	630	35	we	we	PRON
cblr-1780	630	36	should	should	AUX
cblr-1780	630	37	start	start	VERB
cblr-1780	630	38	with	with	ADP
cblr-1780	630	39	a	a	DET
cblr-1780	630	40	presumption	presumption	NOUN
cblr-1780	630	41	against	against	ADP
cblr-1780	630	42	imposing	impose	VERB
cblr-1780	630	43	new	new	ADJ
cblr-1780	630	44	topic	topic	NOUN
cblr-1780	630	45	-	-	PUNCT
cblr-1780	630	46	specific	specific	ADJ
cblr-1780	630	47	disclosure	disclosure	NOUN
cblr-1780	630	48	obligations	obligation	NOUN
cblr-1780	630	49	on	on	ADP
cblr-1780	630	50	public	public	ADJ
cblr-1780	630	51	companies	company	NOUN
cblr-1780	630	52	.	.	PUNCT
cblr-1780	631	1	b.	b.	NOUN
cblr-1780	631	2	market	market	NOUN
cblr-1780	631	3	failure	failure	NOUN
cblr-1780	631	4	justifications	justification	NOUN
cblr-1780	631	5	for	for	ADP
cblr-1780	631	6	regulatory	regulatory	ADJ
cblr-1780	631	7	intervention	intervention	NOUN
cblr-1780	631	8	the	the	DET
cblr-1780	631	9	second	second	ADJ
cblr-1780	631	10	question	question	NOUN
cblr-1780	631	11	to	to	PART
cblr-1780	631	12	be	be	AUX
cblr-1780	631	13	addressed	address	VERB
cblr-1780	631	14	is	be	AUX
cblr-1780	631	15	what	what	PRON
cblr-1780	631	16	evidence	evidence	NOUN
cblr-1780	631	17	should	should	AUX
cblr-1780	631	18	be	be	AUX
cblr-1780	631	19	sufficient	sufficient	ADJ
cblr-1780	631	20	to	to	PART
cblr-1780	631	21	overcome	overcome	VERB
cblr-1780	631	22	the	the	DET
cblr-1780	631	23	presumption	presumption	NOUN
cblr-1780	631	24	against	against	ADP
cblr-1780	631	25	making	make	VERB
cblr-1780	631	26	a	a	DET
cblr-1780	631	27	new	new	ADJ
cblr-1780	631	28	topic	topic	NOUN
cblr-1780	631	29	-	-	PUNCT
cblr-1780	631	30	specific	specific	ADJ
cblr-1780	631	31	disclosure	disclosure	NOUN
cblr-1780	631	32	mandatory	mandatory	ADJ
cblr-1780	631	33	.	.	PUNCT
cblr-1780	632	1	scholarship	scholarship	NOUN
cblr-1780	632	2	on	on	ADP
cblr-1780	632	3	public	public	ADJ
cblr-1780	632	4	company	company	NOUN
cblr-1780	632	5	disclosure	disclosure	NOUN
cblr-1780	632	6	regulation	regulation	NOUN
cblr-1780	632	7	provides	provide	VERB
cblr-1780	632	8	a	a	DET
cblr-1780	632	9	useful	useful	ADJ
cblr-1780	632	10	starting	starting	NOUN
cblr-1780	632	11	point	point	NOUN
cblr-1780	632	12	to	to	PART
cblr-1780	632	13	answer	answer	VERB
cblr-1780	632	14	this	this	DET
cblr-1780	632	15	question	question	NOUN
cblr-1780	632	16	.	.	PUNCT
cblr-1780	633	1	whether	whether	SCONJ
cblr-1780	633	2	and	and	CCONJ
cblr-1780	633	3	to	to	ADP
cblr-1780	633	4	what	what	DET
cblr-1780	633	5	extent	extent	NOUN
cblr-1780	633	6	the	the	DET
cblr-1780	633	7	disclosure	disclosure	NOUN
cblr-1780	633	8	policies	policy	NOUN
cblr-1780	633	9	of	of	ADP
cblr-1780	633	10	public	public	ADJ
cblr-1780	633	11	companies	company	NOUN
cblr-1780	633	12	should	should	AUX
cblr-1780	633	13	be	be	AUX
cblr-1780	633	14	regulated	regulate	VERB
cblr-1780	633	15	is	be	AUX
cblr-1780	633	16	the	the	DET
cblr-1780	633	17	subject	subject	NOUN
cblr-1780	633	18	of	of	ADP
cblr-1780	633	19	a	a	DET
cblr-1780	633	20	lively	lively	ADJ
cblr-1780	633	21	and	and	CCONJ
cblr-1780	633	22	ongoing	ongoing	ADJ
cblr-1780	633	23	academic	academic	ADJ
cblr-1780	633	24	debate.143	debate.143	NOUN
cblr-1780	633	25	the	the	DET
cblr-1780	633	26	debate	debate	NOUN
cblr-1780	633	27	on	on	ADP
cblr-1780	633	28	the	the	DET
cblr-1780	633	29	efficacy	efficacy	NOUN
cblr-1780	633	30	of	of	ADP
cblr-1780	633	31	public	public	ADJ
cblr-1780	633	32	company	company	NOUN
cblr-1780	633	33	disclosure	disclosure	NOUN
cblr-1780	633	34	regulation	regulation	NOUN
cblr-1780	633	35	brings	bring	VERB
cblr-1780	633	36	clarity	clarity	NOUN
cblr-1780	633	37	to	to	ADP
cblr-1780	633	38	the	the	DET
cblr-1780	633	39	question	question	NOUN
cblr-1780	633	40	of	of	ADP
cblr-1780	633	41	if	if	SCONJ
cblr-1780	633	42	or	or	CCONJ
cblr-1780	633	43	when	when	SCONJ
cblr-1780	633	44	a	a	DET
cblr-1780	633	45	new	new	ADJ
cblr-1780	633	46	topic	topic	NOUN
cblr-1780	633	47	-	-	PUNCT
cblr-1780	633	48	specific	specific	ADJ
cblr-1780	633	49	disclosure	disclosure	NOUN
cblr-1780	633	50	requirement	requirement	NOUN
cblr-1780	633	51	might	might	AUX
cblr-1780	633	52	be	be	AUX
cblr-1780	633	53	beneficial	beneficial	ADJ
cblr-1780	633	54	.	.	PUNCT
cblr-1780	634	1	more	more	ADV
cblr-1780	634	2	specifically	specifically	ADV
cblr-1780	634	3	,	,	PUNCT
cblr-1780	634	4	this	this	DET
cblr-1780	634	5	scholarship	scholarship	NOUN
cblr-1780	634	6	identifies	identify	VERB
cblr-1780	634	7	only	only	ADV
cblr-1780	634	8	two	two	NUM
cblr-1780	634	9	market	market	NOUN
cblr-1780	634	10	failures	failure	NOUN
cblr-1780	634	11	that	that	PRON
cblr-1780	634	12	might	might	AUX
cblr-1780	634	13	be	be	AUX
cblr-1780	634	14	sufficiently	sufficiently	ADV
cblr-1780	634	15	large	large	ADJ
cblr-1780	634	16	to	to	PART
cblr-1780	634	17	justify	justify	VERB
cblr-1780	634	18	regulatory	regulatory	ADJ
cblr-1780	634	19	intervention	intervention	NOUN
cblr-1780	634	20	into	into	ADP
cblr-1780	634	21	public	public	ADJ
cblr-1780	634	22	company	company	NOUN
cblr-1780	634	23	disclosure	disclosure	NOUN
cblr-1780	634	24	practices	practice	NOUN
cblr-1780	634	25	.	.	PUNCT
cblr-1780	635	1	the	the	DET
cblr-1780	635	2	first	first	ADJ
cblr-1780	635	3	market	market	NOUN
cblr-1780	635	4	failure	failure	NOUN
cblr-1780	635	5	involves	involve	VERB
cblr-1780	635	6	positive	positive	ADJ
cblr-1780	635	7	externalities	externality	NOUN
cblr-1780	635	8	.	.	PUNCT
cblr-1780	636	1	without	without	ADP
cblr-1780	636	2	regulatory	regulatory	ADJ
cblr-1780	636	3	intervention	intervention	NOUN
cblr-1780	636	4	,	,	PUNCT
cblr-1780	636	5	public	public	ADJ
cblr-1780	636	6	companies	company	NOUN
cblr-1780	636	7	may	may	AUX
cblr-1780	636	8	systematically	systematically	ADV
cblr-1780	636	9	under	under	ADV
cblr-1780	636	10	-	-	PUNCT
cblr-1780	636	11	disclose	disclose	NOUN
cblr-1780	636	12	,	,	PUNCT
cblr-1780	636	13	because	because	SCONJ
cblr-1780	636	14	of	of	ADP
cblr-1780	636	15	difficulties	difficulty	NOUN
cblr-1780	636	16	they	they	PRON
cblr-1780	636	17	inevitably	inevitably	ADV
cblr-1780	636	18	face	face	VERB
cblr-1780	636	19	in	in	ADP
cblr-1780	636	20	capturing	capture	VERB
cblr-1780	636	21	all	all	PRON
cblr-1780	636	22	of	of	ADP
cblr-1780	636	23	the	the	DET
cblr-1780	636	24	benefits	benefit	NOUN
cblr-1780	636	25	their	their	PRON
cblr-1780	636	26	disclosures	disclosure	NOUN
cblr-1780	636	27	provide	provide	VERB
cblr-1780	636	28	to	to	ADP
cblr-1780	636	29	outsiders.144	outsiders.144	PROPN
cblr-1780	636	30	the	the	DET
cblr-1780	636	31	second	second	ADJ
cblr-1780	636	32	market	market	NOUN
cblr-1780	636	33	failure	failure	NOUN
cblr-1780	636	34	involves	involve	VERB
cblr-1780	636	35	the	the	DET
cblr-1780	636	36	possibility	possibility	NOUN
cblr-1780	636	37	of	of	ADP
cblr-1780	636	38	tunneling	tunnel	VERB
cblr-1780	636	39	by	by	ADP
cblr-1780	636	40	firm	firm	ADJ
cblr-1780	636	41	insiders	insider	NOUN
cblr-1780	636	42	.	.	PUNCT
cblr-1780	637	1	without	without	ADP
cblr-1780	637	2	regulatory	regulatory	ADJ
cblr-1780	637	3	intervention	intervention	NOUN
cblr-1780	637	4	,	,	PUNCT
cblr-1780	637	5	firm	firm	ADJ
cblr-1780	637	6	insiders	insider	NOUN
cblr-1780	637	7	may	may	AUX
cblr-1780	637	8	establish	establish	VERB
cblr-1780	637	9	disclosure	disclosure	NOUN
cblr-1780	637	10	policies	policy	NOUN
cblr-1780	637	11	that	that	PRON
cblr-1780	637	12	provide	provide	VERB
cblr-1780	637	13	insiders	insider	NOUN
cblr-1780	637	14	with	with	ADP
cblr-1780	637	15	more	more	ADJ
cblr-1780	637	16	opportunities	opportunity	NOUN
cblr-1780	637	17	for	for	ADP
cblr-1780	637	18	personal	personal	ADJ
cblr-1780	637	19	benefit	benefit	NOUN
cblr-1780	637	20	,	,	PUNCT
cblr-1780	637	21	but	but	CCONJ
cblr-1780	637	22	diminish	diminish	VERB
cblr-1780	637	23	firm	firm	ADJ
cblr-1780	637	24	value.145	value.145	PROPN
cblr-1780	638	1	i	i	PRON
cblr-1780	638	2	next	next	ADV
cblr-1780	638	3	consider	consider	VERB
cblr-1780	638	4	how	how	SCONJ
cblr-1780	638	5	a	a	DET
cblr-1780	638	6	better	well	ADJ
cblr-1780	638	7	understanding	understanding	NOUN
cblr-1780	638	8	of	of	ADP
cblr-1780	638	9	each	each	PRON
cblr-1780	638	10	of	of	ADP
cblr-1780	638	11	these	these	DET
cblr-1780	638	12	market	market	NOUN
cblr-1780	638	13	failures	failure	NOUN
cblr-1780	638	14	can	can	AUX
cblr-1780	638	15	guide	guide	VERB
cblr-1780	638	16	an	an	DET
cblr-1780	638	17	evaluation	evaluation	NOUN
cblr-1780	638	18	of	of	ADP
cblr-1780	638	19	the	the	DET
cblr-1780	638	20	likely	likely	ADJ
cblr-1780	638	21	efficacy	efficacy	NOUN
cblr-1780	638	22	of	of	ADP
cblr-1780	638	23	a	a	DET
cblr-1780	638	24	topic	topic	NOUN
cblr-1780	638	25	-	-	PUNCT
cblr-1780	638	26	specific	specific	ADJ
cblr-1780	638	27	disclosure	disclosure	NOUN
cblr-1780	638	28	requirement	requirement	NOUN
cblr-1780	638	29	.	.	PUNCT
cblr-1780	639	1	143	143	NUM
cblr-1780	639	2	see	see	VERB
cblr-1780	639	3	supra	supra	PROPN
cblr-1780	639	4	note	note	PROPN
cblr-1780	639	5	72	72	NUM
cblr-1780	639	6	.	.	PUNCT
cblr-1780	640	1	144	144	NUM
cblr-1780	640	2	see	see	VERB
cblr-1780	640	3	supra	supra	PROPN
cblr-1780	640	4	part	part	PROPN
cblr-1780	640	5	iii.b.1	iii.b.1	PROPN
cblr-1780	640	6	.	.	PROPN
cblr-1780	640	7	145	145	NUM
cblr-1780	640	8	see	see	VERB
cblr-1780	640	9	supra	supra	PROPN
cblr-1780	640	10	part	part	PROPN
cblr-1780	640	11	iii.b.2	iii.b.2	PROPN
cblr-1780	640	12	.	.	PUNCT
cblr-1780	641	1	guttentag	guttentag	NOUN
cblr-1780	641	2	–	–	PUNCT
cblr-1780	641	3	final	final	ADJ
cblr-1780	641	4	638	638	NUM
cblr-1780	641	5	columbia	columbia	PROPN
cblr-1780	641	6	business	business	NOUN
cblr-1780	641	7	law	law	NOUN
cblr-1780	641	8	review	review	NOUN
cblr-1780	642	1	[	[	X
cblr-1780	642	2	vol	vol	NOUN
cblr-1780	642	3	.	.	PUNCT
cblr-1780	642	4	2014	2014	NUM
cblr-1780	642	5	1	1	NUM
cblr-1780	642	6	.	.	PUNCT
cblr-1780	642	7	positive	positive	ADJ
cblr-1780	642	8	externalities	externality	NOUN
cblr-1780	642	9	and	and	CCONJ
cblr-1780	642	10	topic	topic	NOUN
cblr-1780	642	11	-	-	PUNCT
cblr-1780	642	12	specific	specific	ADJ
cblr-1780	642	13	disclosure	disclosure	NOUN
cblr-1780	642	14	requirements	requirement	VERB
cblr-1780	642	15	one	one	NUM
cblr-1780	642	16	market	market	NOUN
cblr-1780	642	17	failure	failure	NOUN
cblr-1780	642	18	that	that	PRON
cblr-1780	642	19	justifies	justify	VERB
cblr-1780	642	20	regulating	regulate	VERB
cblr-1780	642	21	public	public	ADJ
cblr-1780	642	22	company	company	NOUN
cblr-1780	642	23	disclosure	disclosure	NOUN
cblr-1780	642	24	policies	policy	NOUN
cblr-1780	642	25	arises	arise	VERB
cblr-1780	642	26	out	out	ADP
cblr-1780	642	27	of	of	ADP
cblr-1780	642	28	the	the	DET
cblr-1780	642	29	benefits	benefit	NOUN
cblr-1780	642	30	these	these	DET
cblr-1780	642	31	disclosures	disclosure	NOUN
cblr-1780	642	32	can	can	AUX
cblr-1780	642	33	provide	provide	VERB
cblr-1780	642	34	to	to	ADP
cblr-1780	642	35	those	those	PRON
cblr-1780	642	36	outside	outside	ADP
cblr-1780	642	37	of	of	ADP
cblr-1780	642	38	the	the	DET
cblr-1780	642	39	firm	firm	NOUN
cblr-1780	642	40	.	.	PUNCT
cblr-1780	643	1	more	more	ADV
cblr-1780	643	2	specifically	specifically	ADV
cblr-1780	643	3	,	,	PUNCT
cblr-1780	643	4	without	without	ADP
cblr-1780	643	5	regulatory	regulatory	ADJ
cblr-1780	643	6	intervention	intervention	NOUN
cblr-1780	643	7	,	,	PUNCT
cblr-1780	643	8	public	public	ADJ
cblr-1780	643	9	firms	firm	NOUN
cblr-1780	643	10	may	may	AUX
cblr-1780	643	11	disclose	disclose	VERB
cblr-1780	643	12	less	less	ADJ
cblr-1780	643	13	than	than	ADP
cblr-1780	643	14	a	a	DET
cblr-1780	643	15	socially	socially	ADV
cblr-1780	643	16	optimal	optimal	ADJ
cblr-1780	643	17	amount	amount	NOUN
cblr-1780	643	18	of	of	ADP
cblr-1780	643	19	information	information	NOUN
cblr-1780	643	20	,	,	PUNCT
cblr-1780	643	21	because	because	SCONJ
cblr-1780	643	22	they	they	PRON
cblr-1780	643	23	are	be	AUX
cblr-1780	643	24	not	not	PART
cblr-1780	643	25	able	able	ADJ
cblr-1780	643	26	to	to	PART
cblr-1780	643	27	capture	capture	VERB
cblr-1780	643	28	the	the	DET
cblr-1780	643	29	full	full	ADJ
cblr-1780	643	30	value	value	NOUN
cblr-1780	643	31	their	their	PRON
cblr-1780	643	32	disclosures	disclosure	NOUN
cblr-1780	643	33	provide	provide	VERB
cblr-1780	643	34	to	to	ADP
cblr-1780	643	35	:	:	PUNCT
cblr-1780	643	36	(	(	PUNCT
cblr-1780	643	37	1	1	X
cblr-1780	643	38	)	)	PUNCT
cblr-1780	643	39	competitors	competitor	NOUN
cblr-1780	643	40	,	,	PUNCT
cblr-1780	643	41	(	(	PUNCT
cblr-1780	643	42	2	2	X
cblr-1780	643	43	)	)	PUNCT
cblr-1780	643	44	other	other	ADJ
cblr-1780	643	45	firms	firm	NOUN
cblr-1780	643	46	with	with	ADP
cblr-1780	643	47	securities	security	NOUN
cblr-1780	643	48	traded	trade	VERB
cblr-1780	643	49	on	on	ADP
cblr-1780	643	50	the	the	DET
cblr-1780	643	51	same	same	ADJ
cblr-1780	643	52	venue	venue	NOUN
cblr-1780	643	53	as	as	ADP
cblr-1780	643	54	the	the	DET
cblr-1780	643	55	disclosing	disclosing	NOUN
cblr-1780	643	56	firm	firm	NOUN
cblr-1780	643	57	,	,	PUNCT
cblr-1780	643	58	or	or	CCONJ
cblr-1780	643	59	(	(	PUNCT
cblr-1780	643	60	3	3	X
cblr-1780	643	61	)	)	PUNCT
cblr-1780	643	62	the	the	DET
cblr-1780	643	63	economy	economy	NOUN
cblr-1780	643	64	at	at	ADP
cblr-1780	643	65	large.146	large.146	PROPN
cblr-1780	643	66	there	there	PRON
cblr-1780	643	67	are	be	VERB
cblr-1780	643	68	several	several	ADJ
cblr-1780	643	69	reasons	reason	NOUN
cblr-1780	643	70	to	to	PART
cblr-1780	643	71	suspect	suspect	VERB
cblr-1780	643	72	that	that	SCONJ
cblr-1780	643	73	regulating	regulate	VERB
cblr-1780	643	74	public	public	ADJ
cblr-1780	643	75	company	company	NOUN
cblr-1780	643	76	disclosure	disclosure	NOUN
cblr-1780	643	77	policies	policy	NOUN
cblr-1780	643	78	can	can	AUX
cblr-1780	643	79	provide	provide	VERB
cblr-1780	643	80	a	a	DET
cblr-1780	643	81	corrective	corrective	NOUN
cblr-1780	643	82	for	for	ADP
cblr-1780	643	83	distortions	distortion	NOUN
cblr-1780	643	84	in	in	ADP
cblr-1780	643	85	public	public	ADJ
cblr-1780	643	86	company	company	NOUN
cblr-1780	643	87	disclosure	disclosure	NOUN
cblr-1780	643	88	policies	policy	NOUN
cblr-1780	643	89	caused	cause	VERB
cblr-1780	643	90	by	by	ADP
cblr-1780	643	91	these	these	DET
cblr-1780	643	92	positive	positive	ADJ
cblr-1780	643	93	externalities.147	externalities.147	NOUN
cblr-1780	643	94	however	however	ADV
cblr-1780	643	95	,	,	PUNCT
cblr-1780	643	96	there	there	PRON
cblr-1780	643	97	are	be	VERB
cblr-1780	643	98	also	also	ADV
cblr-1780	643	99	significant	significant	ADJ
cblr-1780	643	100	challenges	challenge	NOUN
cblr-1780	643	101	in	in	ADP
cblr-1780	643	102	linking	link	VERB
cblr-1780	643	103	a	a	DET
cblr-1780	643	104	market	market	NOUN
cblr-1780	643	105	failure	failure	NOUN
cblr-1780	643	106	caused	cause	VERB
cblr-1780	643	107	by	by	ADP
cblr-1780	643	108	positive	positive	ADJ
cblr-1780	643	109	externalities	externality	NOUN
cblr-1780	643	110	to	to	ADP
cblr-1780	643	111	the	the	DET
cblr-1780	643	112	systematic	systematic	ADJ
cblr-1780	643	113	under	under	NOUN
cblr-1780	643	114	-	-	PUNCT
cblr-1780	643	115	disclosure	disclosure	NOUN
cblr-1780	643	116	of	of	ADP
cblr-1780	643	117	information	information	NOUN
cblr-1780	643	118	regarding	regard	VERB
cblr-1780	643	119	a	a	DET
cblr-1780	643	120	specific	specific	ADJ
cblr-1780	643	121	topic	topic	NOUN
cblr-1780	643	122	.	.	PUNCT
cblr-1780	644	1	in	in	ADP
cblr-1780	644	2	considering	consider	VERB
cblr-1780	644	3	how	how	SCONJ
cblr-1780	644	4	a	a	DET
cblr-1780	644	5	positive	positive	ADJ
cblr-1780	644	6	externalities	externality	NOUN
cblr-1780	644	7	market	market	NOUN
cblr-1780	644	8	failure	failure	NOUN
cblr-1780	644	9	might	might	AUX
cblr-1780	644	10	justify	justify	VERB
cblr-1780	644	11	requiring	require	VERB
cblr-1780	644	12	that	that	DET
cblr-1780	644	13	information	information	NOUN
cblr-1780	644	14	regarding	regard	VERB
cblr-1780	644	15	a	a	DET
cblr-1780	644	16	specific	specific	ADJ
cblr-1780	644	17	topic	topic	NOUN
cblr-1780	644	18	be	be	AUX
cblr-1780	644	19	disclosed	disclose	VERB
cblr-1780	644	20	,	,	PUNCT
cblr-1780	644	21	it	it	PRON
cblr-1780	644	22	is	be	AUX
cblr-1780	644	23	helpful	helpful	ADJ
cblr-1780	644	24	to	to	PART
cblr-1780	644	25	consider	consider	VERB
cblr-1780	644	26	in	in	ADP
cblr-1780	644	27	turn	turn	NOUN
cblr-1780	644	28	each	each	PRON
cblr-1780	644	29	of	of	ADP
cblr-1780	644	30	the	the	DET
cblr-1780	644	31	three	three	NUM
cblr-1780	644	32	potential	potential	ADJ
cblr-1780	644	33	beneficiaries	beneficiary	NOUN
cblr-1780	644	34	of	of	ADP
cblr-1780	644	35	such	such	ADJ
cblr-1780	644	36	disclosures	disclosure	NOUN
cblr-1780	644	37	:	:	PUNCT
cblr-1780	644	38	(	(	PUNCT
cblr-1780	644	39	1	1	X
cblr-1780	644	40	)	)	PUNCT
cblr-1780	644	41	competitors	competitor	NOUN
cblr-1780	644	42	,	,	PUNCT
cblr-1780	644	43	(	(	PUNCT
cblr-1780	644	44	2	2	X
cblr-1780	644	45	)	)	PUNCT
cblr-1780	644	46	other	other	ADJ
cblr-1780	644	47	firms	firm	NOUN
cblr-1780	644	48	with	with	ADP
cblr-1780	644	49	securities	security	NOUN
cblr-1780	644	50	traded	trade	VERB
cblr-1780	644	51	on	on	ADP
cblr-1780	644	52	the	the	DET
cblr-1780	644	53	same	same	ADJ
cblr-1780	644	54	venue	venue	NOUN
cblr-1780	644	55	as	as	ADP
cblr-1780	644	56	the	the	DET
cblr-1780	644	57	disclosing	disclosing	NOUN
cblr-1780	644	58	firm	firm	NOUN
cblr-1780	644	59	,	,	PUNCT
cblr-1780	644	60	and	and	CCONJ
cblr-1780	644	61	(	(	PUNCT
cblr-1780	644	62	3	3	X
cblr-1780	644	63	)	)	PUNCT
cblr-1780	644	64	the	the	DET
cblr-1780	644	65	economy	economy	NOUN
cblr-1780	644	66	at	at	ADP
cblr-1780	644	67	large	large	ADJ
cblr-1780	644	68	.	.	PUNCT
cblr-1780	645	1	with	with	ADP
cblr-1780	645	2	respect	respect	NOUN
cblr-1780	645	3	to	to	ADP
cblr-1780	645	4	the	the	DET
cblr-1780	645	5	first	first	ADJ
cblr-1780	645	6	group	group	NOUN
cblr-1780	645	7	of	of	ADP
cblr-1780	645	8	potential	potential	ADJ
cblr-1780	645	9	beneficiaries	beneficiary	NOUN
cblr-1780	645	10	from	from	ADP
cblr-1780	645	11	these	these	DET
cblr-1780	645	12	disclosures	disclosure	NOUN
cblr-1780	645	13	,	,	PUNCT
cblr-1780	645	14	firms	firm	NOUN
cblr-1780	645	15	’	'	PUNCT
cblr-1780	645	16	competitors	competitor	NOUN
cblr-1780	645	17	,	,	PUNCT
cblr-1780	645	18	it	it	PRON
cblr-1780	645	19	is	be	AUX
cblr-1780	645	20	worth	worth	ADJ
cblr-1780	645	21	noting	note	VERB
cblr-1780	645	22	that	that	SCONJ
cblr-1780	645	23	whether	whether	SCONJ
cblr-1780	645	24	positive	positive	ADJ
cblr-1780	645	25	interfirm	interfirm	NOUN
cblr-1780	645	26	externalities	externality	NOUN
cblr-1780	645	27	ever	ever	ADV
cblr-1780	645	28	justify	justify	VERB
cblr-1780	645	29	regulatory	regulatory	ADJ
cblr-1780	645	30	intervention	intervention	NOUN
cblr-1780	645	31	is	be	AUX
cblr-1780	645	32	a	a	DET
cblr-1780	645	33	controversial	controversial	ADJ
cblr-1780	645	34	topic.148	topic.148	NOUN
cblr-1780	645	35	146	146	NUM
cblr-1780	645	36	another	another	DET
cblr-1780	645	37	positive	positive	ADJ
cblr-1780	645	38	spillover	spillover	NOUN
cblr-1780	645	39	effect	effect	NOUN
cblr-1780	645	40	,	,	PUNCT
cblr-1780	645	41	potentially	potentially	ADV
cblr-1780	645	42	not	not	PART
cblr-1780	645	43	captured	capture	VERB
cblr-1780	645	44	by	by	ADP
cblr-1780	645	45	a	a	DET
cblr-1780	645	46	firm	firm	NOUN
cblr-1780	645	47	making	make	VERB
cblr-1780	645	48	public	public	ADJ
cblr-1780	645	49	disclosures	disclosure	NOUN
cblr-1780	645	50	,	,	PUNCT
cblr-1780	645	51	comes	come	VERB
cblr-1780	645	52	from	from	ADP
cblr-1780	645	53	the	the	DET
cblr-1780	645	54	value	value	NOUN
cblr-1780	645	55	the	the	DET
cblr-1780	645	56	disclosed	disclose	VERB
cblr-1780	645	57	information	information	NOUN
cblr-1780	645	58	provides	provide	VERB
cblr-1780	645	59	to	to	ADP
cblr-1780	645	60	investors	investor	NOUN
cblr-1780	645	61	generally	generally	ADV
cblr-1780	645	62	.	.	PUNCT
cblr-1780	646	1	i	i	PRON
cblr-1780	646	2	choose	choose	VERB
cblr-1780	646	3	to	to	PART
cblr-1780	646	4	exclude	exclude	VERB
cblr-1780	646	5	this	this	DET
cblr-1780	646	6	potential	potential	ADJ
cblr-1780	646	7	positive	positive	ADJ
cblr-1780	646	8	spillover	spillover	NOUN
cblr-1780	646	9	effect	effect	NOUN
cblr-1780	646	10	for	for	ADP
cblr-1780	646	11	reasons	reason	NOUN
cblr-1780	646	12	i	i	PRON
cblr-1780	646	13	have	have	AUX
cblr-1780	646	14	elaborated	elaborate	VERB
cblr-1780	646	15	on	on	ADP
cblr-1780	646	16	elsewhere	elsewhere	ADV
cblr-1780	646	17	.	.	PUNCT
cblr-1780	647	1	guttentag	guttentag	NOUN
cblr-1780	647	2	,	,	PUNCT
cblr-1780	647	3	patching	patch	VERB
cblr-1780	647	4	a	a	DET
cblr-1780	647	5	hole	hole	NOUN
cblr-1780	647	6	,	,	PUNCT
cblr-1780	647	7	supra	supra	PROPN
cblr-1780	647	8	note	note	PROPN
cblr-1780	647	9	100	100	NUM
cblr-1780	647	10	,	,	PUNCT
cblr-1780	647	11	at	at	ADP
cblr-1780	647	12	193	193	NUM
cblr-1780	647	13	.	.	PUNCT
cblr-1780	648	1	147	147	NUM
cblr-1780	648	2	guttentag	guttentag	NOUN
cblr-1780	648	3	,	,	PUNCT
cblr-1780	648	4	imposing	impose	VERB
cblr-1780	648	5	disclosure	disclosure	NOUN
cblr-1780	648	6	requirements	requirement	NOUN
cblr-1780	648	7	,	,	PUNCT
cblr-1780	648	8	supra	supra	PROPN
cblr-1780	648	9	note	note	NOUN
cblr-1780	648	10	129	129	NUM
cblr-1780	648	11	,	,	PUNCT
cblr-1780	648	12	182–84	182–84	NOUN
cblr-1780	648	13	.	.	PUNCT
cblr-1780	649	1	148	148	NUM
cblr-1780	649	2	see	see	NOUN
cblr-1780	649	3	,	,	PUNCT
cblr-1780	649	4	e.g.	e.g.	ADV
cblr-1780	649	5	,	,	PUNCT
cblr-1780	649	6	merritt	merritt	PROPN
cblr-1780	649	7	b.	b.	PROPN
cblr-1780	649	8	fox	fox	PROPN
cblr-1780	649	9	,	,	PUNCT
cblr-1780	649	10	the	the	DET
cblr-1780	649	11	issuer	issuer	ADJ
cblr-1780	649	12	choice	choice	NOUN
cblr-1780	649	13	debate	debate	NOUN
cblr-1780	649	14	,	,	PUNCT
cblr-1780	649	15	supra	supra	PROPN
cblr-1780	649	16	note	note	NOUN
cblr-1780	649	17	72	72	NUM
cblr-1780	649	18	,	,	PUNCT
cblr-1780	649	19	at	at	ADP
cblr-1780	649	20	570	570	NUM
cblr-1780	649	21	;	;	PUNCT
cblr-1780	649	22	merritt	merritt	PROPN
cblr-1780	649	23	b.	b.	PROPN
cblr-1780	649	24	fox	fox	PROPN
cblr-1780	649	25	,	,	PUNCT
cblr-1780	649	26	retaining	retain	VERB
cblr-1780	649	27	mandatory	mandatory	ADJ
cblr-1780	649	28	securities	security	NOUN
cblr-1780	649	29	disclosure	disclosure	NOUN
cblr-1780	649	30	:	:	PUNCT
cblr-1780	649	31	why	why	SCONJ
cblr-1780	649	32	issuer	issuer	ADJ
cblr-1780	649	33	choice	choice	NOUN
cblr-1780	649	34	is	be	AUX
cblr-1780	649	35	not	not	PART
cblr-1780	649	36	investor	investor	NOUN
cblr-1780	649	37	empowerment	empowerment	NOUN
cblr-1780	649	38	,	,	PUNCT
cblr-1780	649	39	supra	supra	PROPN
cblr-1780	649	40	note	note	PROPN
cblr-1780	649	41	72	72	NUM
cblr-1780	649	42	,	,	PUNCT
cblr-1780	649	43	at	at	ADP
cblr-1780	649	44	1345–46	1345–46	NUM
cblr-1780	649	45	;	;	PUNCT
cblr-1780	649	46	guttentag	guttentag	NOUN
cblr-1780	649	47	,	,	PUNCT
cblr-1780	649	48	imposing	impose	VERB
cblr-1780	649	49	disclosure	disclosure	NOUN
cblr-1780	649	50	requirements	requirement	NOUN
cblr-1780	649	51	,	,	PUNCT
cblr-1780	649	52	supra	supra	PROPN
cblr-1780	649	53	note	note	NOUN
cblr-1780	649	54	129	129	NUM
cblr-1780	649	55	,	,	PUNCT
cblr-1780	649	56	at	at	ADP
cblr-1780	649	57	128	128	NUM
cblr-1780	649	58	;	;	PUNCT
cblr-1780	649	59	guttentag	guttentag	NOUN
cblr-1780	649	60	–	–	PUNCT
cblr-1780	649	61	final	final	ADJ
cblr-1780	649	62	no	no	NOUN
cblr-1780	649	63	.	.	PUNCT
cblr-1780	650	1	3:593	3:593	NUM
cblr-1780	650	2	]	]	PUNCT
cblr-1780	650	3	on	on	ADP
cblr-1780	650	4	political	political	ADJ
cblr-1780	650	5	spending	spending	NOUN
cblr-1780	650	6	disclosure	disclosure	NOUN
cblr-1780	650	7	639	639	NUM
cblr-1780	651	1	i	i	PRON
cblr-1780	651	2	believe	believe	VERB
cblr-1780	651	3	the	the	DET
cblr-1780	651	4	available	available	ADJ
cblr-1780	651	5	evidence	evidence	NOUN
cblr-1780	651	6	shows	show	VERB
cblr-1780	651	7	that	that	SCONJ
cblr-1780	651	8	:	:	PUNCT
cblr-1780	651	9	(	(	PUNCT
cblr-1780	651	10	1	1	X
cblr-1780	651	11	)	)	PUNCT
cblr-1780	651	12	positive	positive	ADJ
cblr-1780	651	13	interfirm	interfirm	NOUN
cblr-1780	651	14	externalities	externality	NOUN
cblr-1780	651	15	do	do	AUX
cblr-1780	651	16	significantly	significantly	ADV
cblr-1780	651	17	distort	distort	VERB
cblr-1780	651	18	public	public	ADJ
cblr-1780	651	19	firm	firm	ADJ
cblr-1780	651	20	disclosure	disclosure	NOUN
cblr-1780	651	21	policies	policy	NOUN
cblr-1780	651	22	,	,	PUNCT
cblr-1780	651	23	and	and	CCONJ
cblr-1780	651	24	(	(	PUNCT
cblr-1780	651	25	2	2	X
cblr-1780	651	26	)	)	PUNCT
cblr-1780	651	27	regulatory	regulatory	ADJ
cblr-1780	651	28	intervention	intervention	NOUN
cblr-1780	651	29	can	can	AUX
cblr-1780	651	30	provide	provide	VERB
cblr-1780	651	31	a	a	DET
cblr-1780	651	32	welfare	welfare	NOUN
cblr-1780	651	33	-	-	PUNCT
cblr-1780	651	34	enhancing	enhance	VERB
cblr-1780	651	35	corrective	corrective	ADJ
cblr-1780	651	36	for	for	ADP
cblr-1780	651	37	these	these	DET
cblr-1780	651	38	distortions.149	distortions.149	NOUN
cblr-1780	651	39	however	however	ADV
cblr-1780	651	40	,	,	PUNCT
cblr-1780	651	41	the	the	DET
cblr-1780	651	42	implications	implication	NOUN
cblr-1780	651	43	of	of	ADP
cblr-1780	651	44	positive	positive	ADJ
cblr-1780	651	45	interfirm	interfirm	NOUN
cblr-1780	651	46	externalities	externality	NOUN
cblr-1780	651	47	for	for	ADP
cblr-1780	651	48	the	the	DET
cblr-1780	651	49	advisability	advisability	NOUN
cblr-1780	651	50	of	of	ADP
cblr-1780	651	51	adopting	adopt	VERB
cblr-1780	651	52	a	a	DET
cblr-1780	651	53	requirement	requirement	NOUN
cblr-1780	651	54	to	to	PART
cblr-1780	651	55	disclose	disclose	VERB
cblr-1780	651	56	information	information	NOUN
cblr-1780	651	57	regarding	regard	VERB
cblr-1780	651	58	a	a	DET
cblr-1780	651	59	specific	specific	ADJ
cblr-1780	651	60	topic	topic	NOUN
cblr-1780	651	61	are	be	AUX
cblr-1780	651	62	quite	quite	ADV
cblr-1780	651	63	difficult	difficult	ADJ
cblr-1780	651	64	to	to	PART
cblr-1780	651	65	discern	discern	VERB
cblr-1780	651	66	for	for	ADP
cblr-1780	651	67	several	several	ADJ
cblr-1780	651	68	reasons	reason	NOUN
cblr-1780	651	69	.	.	PUNCT
cblr-1780	652	1	first	first	ADV
cblr-1780	652	2	,	,	PUNCT
cblr-1780	652	3	it	it	PRON
cblr-1780	652	4	is	be	AUX
cblr-1780	652	5	hard	hard	ADJ
cblr-1780	652	6	to	to	PART
cblr-1780	652	7	determine	determine	VERB
cblr-1780	652	8	when	when	SCONJ
cblr-1780	652	9	specific	specific	ADJ
cblr-1780	652	10	information	information	NOUN
cblr-1780	652	11	would	would	AUX
cblr-1780	652	12	have	have	AUX
cblr-1780	652	13	been	be	AUX
cblr-1780	652	14	disclosed	disclose	VERB
cblr-1780	652	15	,	,	PUNCT
cblr-1780	652	16	but	but	CCONJ
cblr-1780	652	17	for	for	ADP
cblr-1780	652	18	a	a	DET
cblr-1780	652	19	firm	firm	NOUN
cblr-1780	652	20	’s	’s	PART
cblr-1780	652	21	inability	inability	NOUN
cblr-1780	652	22	to	to	PART
cblr-1780	652	23	realize	realize	VERB
cblr-1780	652	24	the	the	DET
cblr-1780	652	25	benefits	benefit	NOUN
cblr-1780	652	26	such	such	ADJ
cblr-1780	652	27	disclosures	disclosure	NOUN
cblr-1780	652	28	provide	provide	VERB
cblr-1780	652	29	to	to	PART
cblr-1780	652	30	competitors.150	competitors.150	VERB
cblr-1780	652	31	moreover	moreover	ADV
cblr-1780	652	32	,	,	PUNCT
cblr-1780	652	33	even	even	ADV
cblr-1780	652	34	if	if	SCONJ
cblr-1780	652	35	information	information	NOUN
cblr-1780	652	36	is	be	AUX
cblr-1780	652	37	withheld	withhold	VERB
cblr-1780	652	38	because	because	SCONJ
cblr-1780	652	39	of	of	ADP
cblr-1780	652	40	positive	positive	ADJ
cblr-1780	652	41	interfirm	interfirm	NOUN
cblr-1780	652	42	externalities	externality	NOUN
cblr-1780	652	43	,	,	PUNCT
cblr-1780	652	44	the	the	DET
cblr-1780	652	45	disclosure	disclosure	NOUN
cblr-1780	652	46	of	of	ADP
cblr-1780	652	47	less	less	ADJ
cblr-1780	652	48	information	information	NOUN
cblr-1780	652	49	does	do	AUX
cblr-1780	652	50	not	not	PART
cblr-1780	652	51	inevitably	inevitably	ADV
cblr-1780	652	52	make	make	VERB
cblr-1780	652	53	investors	investor	NOUN
cblr-1780	652	54	worse	bad	ADJ
cblr-1780	652	55	off	off	ADP
cblr-1780	652	56	.	.	PUNCT
cblr-1780	653	1	withholding	withhold	VERB
cblr-1780	653	2	information	information	NOUN
cblr-1780	653	3	because	because	SCONJ
cblr-1780	653	4	of	of	ADP
cblr-1780	653	5	positive	positive	ADJ
cblr-1780	653	6	interfirm	interfirm	NOUN
cblr-1780	653	7	externalities	externality	NOUN
cblr-1780	653	8	is	be	AUX
cblr-1780	653	9	only	only	ADV
cblr-1780	653	10	harmful	harmful	ADJ
cblr-1780	653	11	when	when	SCONJ
cblr-1780	653	12	the	the	DET
cblr-1780	653	13	information	information	NOUN
cblr-1780	653	14	involved	involve	VERB
cblr-1780	653	15	is	be	AUX
cblr-1780	653	16	both	both	PRON
cblr-1780	653	17	competitively	competitively	ADV
cblr-1780	653	18	disadvantaging	disadvantage	VERB
cblr-1780	653	19	to	to	PART
cblr-1780	653	20	disclose	disclose	VERB
cblr-1780	653	21	and	and	CCONJ
cblr-1780	653	22	,	,	PUNCT
cblr-1780	653	23	at	at	ADP
cblr-1780	653	24	the	the	DET
cblr-1780	653	25	same	same	ADJ
cblr-1780	653	26	time	time	NOUN
cblr-1780	653	27	,	,	PUNCT
cblr-1780	653	28	if	if	SCONJ
cblr-1780	653	29	roberta	roberta	PROPN
cblr-1780	653	30	romano	romano	PROPN
cblr-1780	653	31	,	,	PUNCT
cblr-1780	653	32	empowering	empower	VERB
cblr-1780	653	33	investors	investor	NOUN
cblr-1780	653	34	:	:	PUNCT
cblr-1780	653	35	a	a	DET
cblr-1780	653	36	market	market	NOUN
cblr-1780	653	37	approach	approach	NOUN
cblr-1780	653	38	to	to	ADP
cblr-1780	653	39	securities	security	NOUN
cblr-1780	653	40	regulation	regulation	NOUN
cblr-1780	653	41	,	,	PUNCT
cblr-1780	653	42	supra	supra	PROPN
cblr-1780	653	43	note	note	PROPN
cblr-1780	653	44	72	72	NUM
cblr-1780	653	45	,	,	PUNCT
cblr-1780	653	46	at	at	ADP
cblr-1780	653	47	2373–75	2373–75	NUM
cblr-1780	653	48	;	;	PUNCT
cblr-1780	653	49	roberta	roberta	PROPN
cblr-1780	653	50	romano	romano	PROPN
cblr-1780	653	51	,	,	PUNCT
cblr-1780	653	52	the	the	DET
cblr-1780	653	53	need	need	NOUN
cblr-1780	653	54	for	for	ADP
cblr-1780	653	55	competition	competition	NOUN
cblr-1780	653	56	in	in	ADP
cblr-1780	653	57	international	international	ADJ
cblr-1780	653	58	securities	security	NOUN
cblr-1780	653	59	regulation	regulation	NOUN
cblr-1780	653	60	,	,	PUNCT
cblr-1780	653	61	supra	supra	PROPN
cblr-1780	653	62	note	note	PROPN
cblr-1780	653	63	72	72	NUM
cblr-1780	653	64	,	,	PUNCT
cblr-1780	653	65	at	at	ADP
cblr-1780	653	66	387	387	NUM
cblr-1780	653	67	–	–	PUNCT
cblr-1780	653	68	88	88	NUM
cblr-1780	653	69	,	,	PUNCT
cblr-1780	653	70	420	420	NUM
cblr-1780	653	71	.	.	NOUN
cblr-1780	653	72	149	149	NUM
cblr-1780	653	73	guttentag	guttentag	NOUN
cblr-1780	653	74	,	,	PUNCT
cblr-1780	653	75	imposing	impose	VERB
cblr-1780	653	76	disclosure	disclosure	NOUN
cblr-1780	653	77	requirements	requirement	NOUN
cblr-1780	653	78	,	,	PUNCT
cblr-1780	653	79	supra	supra	PROPN
cblr-1780	653	80	note	note	NOUN
cblr-1780	653	81	129	129	NUM
cblr-1780	653	82	,	,	PUNCT
cblr-1780	653	83	at	at	ADP
cblr-1780	653	84	149–53	149–53	NUM
cblr-1780	653	85	.	.	PUNCT
cblr-1780	654	1	gains	gain	NOUN
cblr-1780	654	2	from	from	ADP
cblr-1780	654	3	regulatory	regulatory	ADJ
cblr-1780	654	4	interventions	intervention	NOUN
cblr-1780	654	5	intended	intend	VERB
cblr-1780	654	6	to	to	PART
cblr-1780	654	7	provide	provide	VERB
cblr-1780	654	8	corrective	corrective	ADJ
cblr-1780	654	9	for	for	ADP
cblr-1780	654	10	positive	positive	ADJ
cblr-1780	654	11	interfirm	interfirm	NOUN
cblr-1780	654	12	externalities	externality	NOUN
cblr-1780	654	13	generally	generally	ADV
cblr-1780	654	14	are	be	AUX
cblr-1780	654	15	,	,	PUNCT
cblr-1780	654	16	however	however	ADV
cblr-1780	654	17	,	,	PUNCT
cblr-1780	654	18	difficult	difficult	ADJ
cblr-1780	654	19	to	to	PART
cblr-1780	654	20	measure	measure	VERB
cblr-1780	654	21	.	.	PUNCT
cblr-1780	655	1	see	see	VERB
cblr-1780	655	2	guttentag	guttentag	NOUN
cblr-1780	655	3	,	,	PUNCT
cblr-1780	655	4	patching	patch	VERB
cblr-1780	655	5	a	a	DET
cblr-1780	655	6	hole	hole	NOUN
cblr-1780	655	7	,	,	PUNCT
cblr-1780	655	8	supra	supra	PROPN
cblr-1780	655	9	note	note	PROPN
cblr-1780	655	10	100	100	NUM
cblr-1780	655	11	,	,	PUNCT
cblr-1780	655	12	at	at	ADP
cblr-1780	655	13	189–90	189–90	NUM
cblr-1780	655	14	.	.	PUNCT
cblr-1780	656	1	150	150	NUM
cblr-1780	656	2	one	one	NUM
cblr-1780	656	3	practical	practical	ADJ
cblr-1780	656	4	solution	solution	NOUN
cblr-1780	656	5	is	be	AUX
cblr-1780	656	6	to	to	PART
cblr-1780	656	7	look	look	VERB
cblr-1780	656	8	to	to	ADP
cblr-1780	656	9	disclosure	disclosure	NOUN
cblr-1780	656	10	policies	policy	NOUN
cblr-1780	656	11	when	when	SCONJ
cblr-1780	656	12	there	there	PRON
cblr-1780	656	13	are	be	VERB
cblr-1780	656	14	no	no	DET
cblr-1780	656	15	positive	positive	ADJ
cblr-1780	656	16	interfirm	interfirm	NOUN
cblr-1780	656	17	externalities	externality	NOUN
cblr-1780	656	18	present	present	ADJ
cblr-1780	656	19	.	.	PUNCT
cblr-1780	657	1	guttentag	guttentag	NOUN
cblr-1780	657	2	,	,	PUNCT
cblr-1780	657	3	imposing	impose	VERB
cblr-1780	657	4	disclosure	disclosure	NOUN
cblr-1780	657	5	requirements	requirement	NOUN
cblr-1780	657	6	,	,	PUNCT
cblr-1780	657	7	supra	supra	PROPN
cblr-1780	657	8	note	note	NOUN
cblr-1780	657	9	129	129	NUM
cblr-1780	657	10	,	,	PUNCT
cblr-1780	657	11	at	at	ADP
cblr-1780	657	12	172–74	172–74	NUM
cblr-1780	657	13	(	(	PUNCT
cblr-1780	657	14	relying	rely	VERB
cblr-1780	657	15	on	on	ADP
cblr-1780	657	16	this	this	DET
cblr-1780	657	17	approach	approach	NOUN
cblr-1780	657	18	)	)	PUNCT
cblr-1780	657	19	.	.	PUNCT
cblr-1780	658	1	however	however	ADV
cblr-1780	658	2	,	,	PUNCT
cblr-1780	658	3	determining	determine	VERB
cblr-1780	658	4	whether	whether	SCONJ
cblr-1780	658	5	information	information	NOUN
cblr-1780	658	6	regarding	regard	VERB
cblr-1780	658	7	a	a	DET
cblr-1780	658	8	specific	specific	ADJ
cblr-1780	658	9	topic	topic	NOUN
cblr-1780	658	10	is	be	AUX
cblr-1780	658	11	customarily	customarily	ADV
cblr-1780	658	12	disclosed	disclose	VERB
cblr-1780	658	13	in	in	ADP
cblr-1780	658	14	the	the	DET
cblr-1780	658	15	absence	absence	NOUN
cblr-1780	658	16	of	of	ADP
cblr-1780	658	17	positive	positive	ADJ
cblr-1780	658	18	interfirm	interfirm	NOUN
cblr-1780	658	19	externalities	externality	NOUN
cblr-1780	658	20	can	can	AUX
cblr-1780	658	21	be	be	AUX
cblr-1780	658	22	challenging	challenge	VERB
cblr-1780	658	23	.	.	PUNCT
cblr-1780	659	1	a	a	DET
cblr-1780	659	2	second	second	ADJ
cblr-1780	659	3	practical	practical	ADJ
cblr-1780	659	4	solution	solution	NOUN
cblr-1780	659	5	is	be	AUX
cblr-1780	659	6	to	to	PART
cblr-1780	659	7	assume	assume	VERB
cblr-1780	659	8	that	that	SCONJ
cblr-1780	659	9	all	all	DET
cblr-1780	659	10	information	information	NOUN
cblr-1780	659	11	of	of	ADP
cblr-1780	659	12	interest	interest	NOUN
cblr-1780	659	13	to	to	ADP
cblr-1780	659	14	investors	investor	NOUN
cblr-1780	659	15	would	would	AUX
cblr-1780	659	16	be	be	AUX
cblr-1780	659	17	disclosed	disclose	VERB
cblr-1780	659	18	,	,	PUNCT
cblr-1780	659	19	but	but	CCONJ
cblr-1780	659	20	for	for	ADP
cblr-1780	659	21	the	the	DET
cblr-1780	659	22	presence	presence	NOUN
cblr-1780	659	23	of	of	ADP
cblr-1780	659	24	positive	positive	ADJ
cblr-1780	659	25	interfirm	interfirm	NOUN
cblr-1780	659	26	externalities	externality	NOUN
cblr-1780	659	27	.	.	PUNCT
cblr-1780	660	1	this	this	DET
cblr-1780	660	2	solution	solution	NOUN
cblr-1780	660	3	has	have	VERB
cblr-1780	660	4	the	the	DET
cblr-1780	660	5	advantage	advantage	NOUN
cblr-1780	660	6	of	of	ADP
cblr-1780	660	7	establishing	establish	VERB
cblr-1780	660	8	a	a	DET
cblr-1780	660	9	minimum	minimum	ADJ
cblr-1780	660	10	standard	standard	NOUN
cblr-1780	660	11	for	for	ADP
cblr-1780	660	12	raising	raise	VERB
cblr-1780	660	13	concerns	concern	NOUN
cblr-1780	660	14	about	about	ADP
cblr-1780	660	15	the	the	DET
cblr-1780	660	16	possibility	possibility	NOUN
cblr-1780	660	17	of	of	ADP
cblr-1780	660	18	distortions	distortion	NOUN
cblr-1780	660	19	caused	cause	VERB
cblr-1780	660	20	by	by	ADP
cblr-1780	660	21	interfirm	interfirm	NOUN
cblr-1780	660	22	externalities	externality	NOUN
cblr-1780	660	23	,	,	PUNCT
cblr-1780	660	24	but	but	CCONJ
cblr-1780	660	25	relies	rely	VERB
cblr-1780	660	26	on	on	ADP
cblr-1780	660	27	a	a	DET
cblr-1780	660	28	tenuous	tenuous	ADJ
cblr-1780	660	29	link	link	NOUN
cblr-1780	660	30	between	between	ADP
cblr-1780	660	31	investor	investor	NOUN
cblr-1780	660	32	interest	interest	NOUN
cblr-1780	660	33	and	and	CCONJ
cblr-1780	660	34	a	a	DET
cblr-1780	660	35	positive	positive	ADJ
cblr-1780	660	36	interfirm	interfirm	NOUN
cblr-1780	660	37	market	market	NOUN
cblr-1780	660	38	failure	failure	NOUN
cblr-1780	660	39	.	.	PUNCT
cblr-1780	661	1	guttentag	guttentag	NOUN
cblr-1780	661	2	–	–	PUNCT
cblr-1780	661	3	final	final	ADJ
cblr-1780	661	4	640	640	NUM
cblr-1780	661	5	columbia	columbia	PROPN
cblr-1780	661	6	business	business	NOUN
cblr-1780	661	7	law	law	NOUN
cblr-1780	661	8	review	review	NOUN
cblr-1780	662	1	[	[	X
cblr-1780	662	2	vol	vol	NOUN
cblr-1780	662	3	.	.	PUNCT
cblr-1780	662	4	2014	2014	NUM
cblr-1780	662	5	disclosed	disclose	VERB
cblr-1780	662	6	,	,	PUNCT
cblr-1780	662	7	would	would	AUX
cblr-1780	662	8	increase	increase	VERB
cblr-1780	662	9	social	social	ADJ
cblr-1780	662	10	welfare.151	welfare.151	NOUN
cblr-1780	662	11	identifying	identify	VERB
cblr-1780	662	12	specific	specific	ADJ
cblr-1780	662	13	types	type	NOUN
cblr-1780	662	14	of	of	ADP
cblr-1780	662	15	information	information	NOUN
cblr-1780	662	16	that	that	PRON
cblr-1780	662	17	have	have	VERB
cblr-1780	662	18	both	both	PRON
cblr-1780	662	19	of	of	ADP
cblr-1780	662	20	these	these	DET
cblr-1780	662	21	attributes	attribute	NOUN
cblr-1780	662	22	is	be	AUX
cblr-1780	662	23	difficult	difficult	ADJ
cblr-1780	662	24	,	,	PUNCT
cblr-1780	662	25	and	and	CCONJ
cblr-1780	662	26	so	so	ADV
cblr-1780	662	27	linking	link	VERB
cblr-1780	662	28	positive	positive	ADJ
cblr-1780	662	29	interfirm	interfirm	NOUN
cblr-1780	662	30	externalities	externality	NOUN
cblr-1780	662	31	to	to	ADP
cblr-1780	662	32	a	a	DET
cblr-1780	662	33	recommendation	recommendation	NOUN
cblr-1780	662	34	to	to	PART
cblr-1780	662	35	require	require	VERB
cblr-1780	662	36	disclosure	disclosure	NOUN
cblr-1780	662	37	of	of	ADP
cblr-1780	662	38	a	a	DET
cblr-1780	662	39	particular	particular	ADJ
cblr-1780	662	40	category	category	NOUN
cblr-1780	662	41	of	of	ADP
cblr-1780	662	42	information	information	NOUN
cblr-1780	662	43	is	be	AUX
cblr-1780	662	44	challenging.152	challenging.152	PROPN
cblr-1780	662	45	other	other	ADJ
cblr-1780	662	46	firms	firm	NOUN
cblr-1780	662	47	with	with	ADP
cblr-1780	662	48	securities	security	NOUN
cblr-1780	662	49	traded	trade	VERB
cblr-1780	662	50	on	on	ADP
cblr-1780	662	51	the	the	DET
cblr-1780	662	52	same	same	ADJ
cblr-1780	662	53	venue	venue	NOUN
cblr-1780	662	54	are	be	AUX
cblr-1780	662	55	the	the	DET
cblr-1780	662	56	second	second	ADJ
cblr-1780	662	57	group	group	NOUN
cblr-1780	662	58	that	that	PRON
cblr-1780	662	59	firms	firm	NOUN
cblr-1780	662	60	making	make	VERB
cblr-1780	662	61	disclosures	disclosure	NOUN
cblr-1780	662	62	may	may	AUX
cblr-1780	662	63	not	not	PART
cblr-1780	662	64	realize	realize	VERB
cblr-1780	662	65	are	be	AUX
cblr-1780	662	66	benefiting	benefit	VERB
cblr-1780	662	67	from	from	ADP
cblr-1780	662	68	these	these	DET
cblr-1780	662	69	disclosures	disclosure	NOUN
cblr-1780	662	70	.	.	PUNCT
cblr-1780	663	1	brian	brian	PROPN
cblr-1780	663	2	bushee	bushee	PROPN
cblr-1780	663	3	and	and	CCONJ
cblr-1780	663	4	christian	christian	PROPN
cblr-1780	663	5	leuz	leuz	NOUN
cblr-1780	663	6	studied	study	VERB
cblr-1780	663	7	the	the	DET
cblr-1780	663	8	impact	impact	NOUN
cblr-1780	663	9	of	of	ADP
cblr-1780	663	10	a	a	DET
cblr-1780	663	11	rule	rule	NOUN
cblr-1780	663	12	enacted	enact	VERB
cblr-1780	663	13	in	in	ADP
cblr-1780	663	14	1999	1999	NUM
cblr-1780	663	15	that	that	PRON
cblr-1780	663	16	required	require	VERB
cblr-1780	663	17	all	all	DET
cblr-1780	663	18	firms	firm	NOUN
cblr-1780	663	19	with	with	ADP
cblr-1780	663	20	shares	share	NOUN
cblr-1780	663	21	traded	trade	VERB
cblr-1780	663	22	on	on	ADP
cblr-1780	663	23	the	the	DET
cblr-1780	663	24	overthe	overthe	ADJ
cblr-1780	663	25	-	-	PUNCT
cblr-1780	663	26	counter	counter	ADJ
cblr-1780	663	27	bulletin	bulletin	NOUN
cblr-1780	663	28	board	board	NOUN
cblr-1780	663	29	(	(	PUNCT
cblr-1780	663	30	otcbb	otcbb	PROPN
cblr-1780	663	31	)	)	PUNCT
cblr-1780	663	32	to	to	PART
cblr-1780	663	33	either	either	CCONJ
cblr-1780	663	34	improve	improve	VERB
cblr-1780	663	35	the	the	DET
cblr-1780	663	36	quality	quality	NOUN
cblr-1780	663	37	of	of	ADP
cblr-1780	663	38	their	their	PRON
cblr-1780	663	39	disclosures	disclosure	NOUN
cblr-1780	663	40	or	or	CCONJ
cblr-1780	663	41	leave	leave	VERB
cblr-1780	663	42	the	the	DET
cblr-1780	663	43	otcbb.153	otcbb.153	ADJ
cblr-1780	663	44	bushee	bushee	NOUN
cblr-1780	663	45	and	and	CCONJ
cblr-1780	663	46	leuz	leuz	NOUN
cblr-1780	663	47	found	find	VERB
cblr-1780	663	48	that	that	SCONJ
cblr-1780	663	49	the	the	DET
cblr-1780	663	50	securities	security	NOUN
cblr-1780	663	51	of	of	ADP
cblr-1780	663	52	firms	firm	NOUN
cblr-1780	663	53	traded	trade	VERB
cblr-1780	663	54	on	on	ADP
cblr-1780	663	55	the	the	DET
cblr-1780	663	56	otcbb	otcbb	NOUN
cblr-1780	663	57	that	that	PRON
cblr-1780	663	58	had	have	AUX
cblr-1780	663	59	already	already	ADV
cblr-1780	663	60	been	be	AUX
cblr-1780	663	61	complying	comply	VERB
cblr-1780	663	62	with	with	ADP
cblr-1780	663	63	federal	federal	ADJ
cblr-1780	663	64	disclosure	disclosure	NOUN
cblr-1780	663	65	requirements	requirement	NOUN
cblr-1780	663	66	“	"	PUNCT
cblr-1780	663	67	experience[d	experience[d	PROPN
cblr-1780	663	68	]	]	PUNCT
cblr-1780	663	69	positive	positive	ADJ
cblr-1780	663	70	stock	stock	NOUN
cblr-1780	663	71	returns	return	NOUN
cblr-1780	663	72	and	and	CCONJ
cblr-1780	663	73	permanent	permanent	ADJ
cblr-1780	663	74	increases	increase	NOUN
cblr-1780	663	75	in	in	ADP
cblr-1780	663	76	liquidity	liquidity	NOUN
cblr-1780	663	77	”	"	PUNCT
cblr-1780	663	78	when	when	SCONJ
cblr-1780	663	79	this	this	DET
cblr-1780	663	80	rule	rule	NOUN
cblr-1780	663	81	was	be	AUX
cblr-1780	663	82	implemented.154	implemented.154	VERB
cblr-1780	663	83	this	this	DET
cblr-1780	663	84	finding	finding	NOUN
cblr-1780	663	85	provides	provide	VERB
cblr-1780	663	86	evidence	evidence	NOUN
cblr-1780	663	87	of	of	ADP
cblr-1780	663	88	the	the	DET
cblr-1780	663	89	positive	positive	ADJ
cblr-1780	663	90	spillover	spillover	NOUN
cblr-1780	663	91	effects	effect	NOUN
cblr-1780	663	92	from	from	ADP
cblr-1780	663	93	public	public	ADJ
cblr-1780	663	94	company	company	NOUN
cblr-1780	663	95	disclosures	disclosure	NOUN
cblr-1780	663	96	that	that	PRON
cblr-1780	663	97	can	can	AUX
cblr-1780	663	98	flow	flow	VERB
cblr-1780	663	99	to	to	ADP
cblr-1780	663	100	other	other	ADJ
cblr-1780	663	101	firms	firm	NOUN
cblr-1780	663	102	with	with	ADP
cblr-1780	663	103	securities	security	NOUN
cblr-1780	663	104	traded	trade	VERB
cblr-1780	663	105	on	on	ADP
cblr-1780	663	106	the	the	DET
cblr-1780	663	107	same	same	ADJ
cblr-1780	663	108	venue	venue	NOUN
cblr-1780	663	109	.	.	PUNCT
cblr-1780	664	1	however	however	ADV
cblr-1780	664	2	,	,	PUNCT
cblr-1780	664	3	our	our	PRON
cblr-1780	664	4	understanding	understanding	NOUN
cblr-1780	664	5	of	of	ADP
cblr-1780	664	6	precisely	precisely	ADV
cblr-1780	664	7	how	how	SCONJ
cblr-1780	664	8	enhanced	enhanced	ADJ
cblr-1780	664	9	disclosures	disclosure	NOUN
cblr-1780	664	10	by	by	ADP
cblr-1780	664	11	some	some	DET
cblr-1780	664	12	firms	firm	NOUN
cblr-1780	664	13	benefits	benefit	VERB
cblr-1780	664	14	other	other	ADJ
cblr-1780	664	15	firms	firm	NOUN
cblr-1780	664	16	with	with	ADP
cblr-1780	664	17	securities	security	NOUN
cblr-1780	664	18	traded	trade	VERB
cblr-1780	664	19	on	on	ADP
cblr-1780	664	20	the	the	DET
cblr-1780	664	21	same	same	ADJ
cblr-1780	664	22	venue	venue	NOUN
cblr-1780	664	23	is	be	AUX
cblr-1780	664	24	quite	quite	ADV
cblr-1780	664	25	limited	limited	ADJ
cblr-1780	664	26	.	.	PUNCT
cblr-1780	665	1	the	the	DET
cblr-1780	665	2	positive	positive	ADJ
cblr-1780	665	3	spillover	spillover	NOUN
cblr-1780	665	4	effects	effect	NOUN
cblr-1780	665	5	observed	observe	VERB
cblr-1780	665	6	by	by	ADP
cblr-1780	665	7	bushee	bushee	NOUN
cblr-1780	665	8	and	and	CCONJ
cblr-1780	665	9	leuz	leuz	NOUN
cblr-1780	665	10	occurred	occur	VERB
cblr-1780	665	11	in	in	ADP
cblr-1780	665	12	a	a	DET
cblr-1780	665	13	situation	situation	NOUN
cblr-1780	665	14	where	where	SCONJ
cblr-1780	665	15	the	the	DET
cblr-1780	665	16	disclosure	disclosure	NOUN
cblr-1780	665	17	policies	policy	NOUN
cblr-1780	665	18	of	of	ADP
cblr-1780	665	19	several	several	ADJ
cblr-1780	665	20	thousand	thousand	NUM
cblr-1780	665	21	firms	firm	NOUN
cblr-1780	665	22	were	be	AUX
cblr-1780	665	23	suddenly	suddenly	ADV
cblr-1780	665	24	shifted	shift	VERB
cblr-1780	665	25	from	from	ADP
cblr-1780	665	26	a	a	DET
cblr-1780	665	27	voluntary	voluntary	ADJ
cblr-1780	665	28	disclosure	disclosure	NOUN
cblr-1780	665	29	regime	regime	NOUN
cblr-1780	665	30	to	to	ADP
cblr-1780	665	31	a	a	DET
cblr-1780	665	32	disclosure	disclosure	NOUN
cblr-1780	665	33	regime	regime	NOUN
cblr-1780	665	34	where	where	SCONJ
cblr-1780	665	35	the	the	DET
cblr-1780	665	36	full	full	ADJ
cblr-1780	665	37	panoply	panoply	NOUN
cblr-1780	665	38	of	of	ADP
cblr-1780	665	39	federal	federal	ADJ
cblr-1780	665	40	disclosure	disclosure	NOUN
cblr-1780	665	41	requirements	requirement	NOUN
cblr-1780	665	42	was	be	AUX
cblr-1780	665	43	imposed.155	imposed.155	PROPN
cblr-1780	665	44	it	it	PRON
cblr-1780	665	45	is	be	AUX
cblr-1780	665	46	unclear	unclear	ADJ
cblr-1780	665	47	how	how	SCONJ
cblr-1780	665	48	the	the	DET
cblr-1780	665	49	spill	spill	NOUN
cblr-1780	665	50	-	-	PUNCT
cblr-1780	665	51	over	over	ADP
cblr-1780	665	52	benefits	benefit	NOUN
cblr-1780	665	53	observed	observe	VERB
cblr-1780	665	54	from	from	ADP
cblr-1780	665	55	such	such	DET
cblr-1780	665	56	a	a	DET
cblr-1780	665	57	large	large	ADJ
cblr-1780	665	58	-	-	PUNCT
cblr-1780	665	59	scale	scale	NOUN
cblr-1780	665	60	151	151	NUM
cblr-1780	665	61	michael	michael	PROPN
cblr-1780	665	62	d.	d.	PROPN
cblr-1780	665	63	guttentag	guttentag	PROPN
cblr-1780	665	64	,	,	PUNCT
cblr-1780	665	65	accuracy	accuracy	NOUN
cblr-1780	665	66	enhancement	enhancement	NOUN
cblr-1780	665	67	,	,	PUNCT
cblr-1780	665	68	agency	agency	NOUN
cblr-1780	665	69	costs	cost	NOUN
cblr-1780	665	70	,	,	PUNCT
cblr-1780	665	71	and	and	CCONJ
cblr-1780	665	72	disclosure	disclosure	NOUN
cblr-1780	665	73	regulation	regulation	NOUN
cblr-1780	665	74	,	,	PUNCT
cblr-1780	665	75	3	3	NUM
cblr-1780	665	76	rev	rev	X
cblr-1780	665	77	.	.	PROPN
cblr-1780	665	78	l.	l.	PROPN
cblr-1780	665	79	&	&	CCONJ
cblr-1780	665	80	econ	econ	PROPN
cblr-1780	665	81	.	.	PUNCT
cblr-1780	666	1	611	611	NUM
cblr-1780	666	2	,	,	PUNCT
cblr-1780	666	3	624–25	624–25	NUM
cblr-1780	666	4	,	,	PUNCT
cblr-1780	666	5	627–29	627–29	NUM
cblr-1780	666	6	(	(	PUNCT
cblr-1780	666	7	2007	2007	NUM
cblr-1780	666	8	)	)	PUNCT
cblr-1780	667	1	[	[	X
cblr-1780	667	2	hereinafter	hereinafter	NOUN
cblr-1780	667	3	guttentag	guttentag	NOUN
cblr-1780	667	4	,	,	PUNCT
cblr-1780	667	5	accuracy	accuracy	NOUN
cblr-1780	667	6	enhancement	enhancement	NOUN
cblr-1780	667	7	]	]	PUNCT
cblr-1780	667	8	(	(	PUNCT
cblr-1780	667	9	providing	provide	VERB
cblr-1780	667	10	an	an	DET
cblr-1780	667	11	analytic	analytic	ADJ
cblr-1780	667	12	model	model	NOUN
cblr-1780	667	13	formalizing	formalizing	NOUN
cblr-1780	667	14	this	this	DET
cblr-1780	667	15	observation	observation	NOUN
cblr-1780	667	16	)	)	PUNCT
cblr-1780	667	17	.	.	PUNCT
cblr-1780	668	1	152	152	NUM
cblr-1780	669	1	i	i	PRON
cblr-1780	669	2	d.	d.	PROPN
cblr-1780	669	3	at	at	ADP
cblr-1780	669	4	627–29	627–29	NUM
cblr-1780	669	5	.	.	PUNCT
cblr-1780	670	1	153	153	NUM
cblr-1780	670	2	brian	brian	PROPN
cblr-1780	670	3	j.	j.	PROPN
cblr-1780	670	4	bushee	bushee	PROPN
cblr-1780	670	5	&	&	CCONJ
cblr-1780	670	6	christian	christian	PROPN
cblr-1780	670	7	leuz	leuz	PROPN
cblr-1780	670	8	,	,	PUNCT
cblr-1780	670	9	economic	economic	ADJ
cblr-1780	670	10	consequences	consequence	NOUN
cblr-1780	670	11	of	of	ADP
cblr-1780	670	12	sec	sec	PROPN
cblr-1780	670	13	disclosure	disclosure	NOUN
cblr-1780	670	14	regulation	regulation	NOUN
cblr-1780	670	15	:	:	PUNCT
cblr-1780	670	16	evidence	evidence	NOUN
cblr-1780	670	17	from	from	ADP
cblr-1780	670	18	the	the	DET
cblr-1780	670	19	otc	otc	PROPN
cblr-1780	670	20	bulletin	bulletin	NOUN
cblr-1780	670	21	board	board	NOUN
cblr-1780	670	22	,	,	PUNCT
cblr-1780	670	23	39	39	NUM
cblr-1780	670	24	j.	j.	PROPN
cblr-1780	670	25	acct	acct	PROPN
cblr-1780	670	26	.	.	PROPN
cblr-1780	670	27	&	&	CCONJ
cblr-1780	670	28	econ	econ	PROPN
cblr-1780	670	29	.	.	PUNCT
cblr-1780	670	30	233	233	NUM
cblr-1780	670	31	,	,	PUNCT
cblr-1780	670	32	234–35	234–35	NUM
cblr-1780	670	33	(	(	PUNCT
cblr-1780	670	34	2005	2005	NUM
cblr-1780	670	35	)	)	PUNCT
cblr-1780	670	36	.	.	PUNCT
cblr-1780	671	1	154	154	NUM
cblr-1780	672	1	i	i	PRON
cblr-1780	672	2	d.	d.	PROPN
cblr-1780	672	3	at	at	ADP
cblr-1780	672	4	233–34	233–34	NUM
cblr-1780	672	5	.	.	PUNCT
cblr-1780	673	1	155	155	NUM
cblr-1780	674	1	i	i	PROPN
cblr-1780	674	2	d.	d.	PROPN
cblr-1780	674	3	at	at	ADP
cblr-1780	674	4	234–35	234–35	NUM
cblr-1780	674	5	.	.	PUNCT
cblr-1780	675	1	guttentag	guttentag	NOUN
cblr-1780	675	2	–	–	PUNCT
cblr-1780	675	3	final	final	ADJ
cblr-1780	675	4	no	no	NOUN
cblr-1780	675	5	.	.	PUNCT
cblr-1780	676	1	3:593	3:593	NUM
cblr-1780	676	2	]	]	PUNCT
cblr-1780	676	3	on	on	ADP
cblr-1780	676	4	political	political	ADJ
cblr-1780	676	5	spending	spending	NOUN
cblr-1780	676	6	disclosure	disclosure	NOUN
cblr-1780	676	7	641	641	NUM
cblr-1780	676	8	change	change	NOUN
cblr-1780	676	9	could	could	AUX
cblr-1780	676	10	be	be	AUX
cblr-1780	676	11	used	use	VERB
cblr-1780	676	12	to	to	PART
cblr-1780	676	13	determine	determine	VERB
cblr-1780	676	14	when	when	SCONJ
cblr-1780	676	15	requiring	require	VERB
cblr-1780	676	16	the	the	DET
cblr-1780	676	17	disclosure	disclosure	NOUN
cblr-1780	676	18	of	of	ADP
cblr-1780	676	19	information	information	NOUN
cblr-1780	676	20	regarding	regard	VERB
cblr-1780	676	21	a	a	DET
cblr-1780	676	22	specific	specific	ADJ
cblr-1780	676	23	topic	topic	NOUN
cblr-1780	676	24	would	would	AUX
cblr-1780	676	25	also	also	ADV
cblr-1780	676	26	provide	provide	VERB
cblr-1780	676	27	a	a	DET
cblr-1780	676	28	spill	spill	NOUN
cblr-1780	676	29	-	-	PUNCT
cblr-1780	676	30	over	over	ADP
cblr-1780	676	31	benefit	benefit	NOUN
cblr-1780	676	32	to	to	ADP
cblr-1780	676	33	other	other	ADJ
cblr-1780	676	34	firms	firm	NOUN
cblr-1780	676	35	with	with	ADP
cblr-1780	676	36	securities	security	NOUN
cblr-1780	676	37	traded	trade	VERB
cblr-1780	676	38	on	on	ADP
cblr-1780	676	39	the	the	DET
cblr-1780	676	40	same	same	ADJ
cblr-1780	676	41	venue	venue	NOUN
cblr-1780	676	42	.	.	PUNCT
cblr-1780	677	1	the	the	DET
cblr-1780	677	2	third	third	ADJ
cblr-1780	677	3	positive	positive	ADJ
cblr-1780	677	4	externality	externality	NOUN
cblr-1780	677	5	that	that	PRON
cblr-1780	677	6	may	may	AUX
cblr-1780	677	7	justify	justify	VERB
cblr-1780	677	8	requiring	require	VERB
cblr-1780	677	9	more	more	ADJ
cblr-1780	677	10	disclosure	disclosure	NOUN
cblr-1780	677	11	by	by	ADP
cblr-1780	677	12	public	public	ADJ
cblr-1780	677	13	companies	company	NOUN
cblr-1780	677	14	comes	come	VERB
cblr-1780	677	15	from	from	ADP
cblr-1780	677	16	benefits	benefit	NOUN
cblr-1780	677	17	to	to	ADP
cblr-1780	677	18	the	the	DET
cblr-1780	677	19	economy	economy	NOUN
cblr-1780	677	20	at	at	ADP
cblr-1780	677	21	large	large	ADJ
cblr-1780	677	22	that	that	PRON
cblr-1780	677	23	may	may	AUX
cblr-1780	677	24	result	result	VERB
cblr-1780	677	25	when	when	SCONJ
cblr-1780	677	26	firms	firm	NOUN
cblr-1780	677	27	are	be	AUX
cblr-1780	677	28	more	more	ADV
cblr-1780	677	29	transparent	transparent	ADJ
cblr-1780	677	30	.	.	PUNCT
cblr-1780	678	1	marcel	marcel	PROPN
cblr-1780	678	2	kahan	kahan	PROPN
cblr-1780	678	3	in	in	ADP
cblr-1780	678	4	“	"	PUNCT
cblr-1780	678	5	securities	security	NOUN
cblr-1780	678	6	laws	law	NOUN
cblr-1780	678	7	and	and	CCONJ
cblr-1780	678	8	the	the	DET
cblr-1780	678	9	social	social	ADJ
cblr-1780	678	10	cost	cost	NOUN
cblr-1780	678	11	of	of	ADP
cblr-1780	678	12	‘	'	PUNCT
cblr-1780	678	13	inaccurate	inaccurate	ADJ
cblr-1780	678	14	’	'	PUNCT
cblr-1780	678	15	stock	stock	NOUN
cblr-1780	678	16	prices	price	NOUN
cblr-1780	678	17	”	"	PUNCT
cblr-1780	678	18	identifies	identify	VERB
cblr-1780	678	19	several	several	ADJ
cblr-1780	678	20	pathways	pathway	NOUN
cblr-1780	678	21	through	through	ADP
cblr-1780	678	22	which	which	PRON
cblr-1780	678	23	more	more	ADV
cblr-1780	678	24	accurate	accurate	ADJ
cblr-1780	678	25	share	share	NOUN
cblr-1780	678	26	prices	price	NOUN
cblr-1780	678	27	can	can	AUX
cblr-1780	678	28	provide	provide	VERB
cblr-1780	678	29	benefits	benefit	NOUN
cblr-1780	678	30	to	to	ADP
cblr-1780	678	31	the	the	DET
cblr-1780	678	32	real	real	ADJ
cblr-1780	678	33	economy.156	economy.156	NOUN
cblr-1780	678	34	in	in	ADP
cblr-1780	678	35	a	a	DET
cblr-1780	678	36	more	more	ADV
cblr-1780	678	37	limited	limited	ADJ
cblr-1780	678	38	context	context	NOUN
cblr-1780	678	39	,	,	PUNCT
cblr-1780	678	40	robert	robert	PROPN
cblr-1780	678	41	bartlett	bartlett	PROPN
cblr-1780	678	42	has	have	AUX
cblr-1780	678	43	shown	show	VERB
cblr-1780	678	44	how	how	SCONJ
cblr-1780	678	45	public	public	ADJ
cblr-1780	678	46	disclosures	disclosure	NOUN
cblr-1780	678	47	may	may	AUX
cblr-1780	678	48	help	help	VERB
cblr-1780	678	49	in	in	ADP
cblr-1780	678	50	monitoring	monitor	VERB
cblr-1780	678	51	systemically	systemically	ADV
cblr-1780	678	52	important	important	ADJ
cblr-1780	678	53	firms.157	firms.157	NOUN
cblr-1780	678	54	however	however	ADV
cblr-1780	678	55	,	,	PUNCT
cblr-1780	678	56	except	except	SCONJ
cblr-1780	678	57	perhaps	perhaps	ADV
cblr-1780	678	58	in	in	ADP
cblr-1780	678	59	the	the	DET
cblr-1780	678	60	special	special	ADJ
cblr-1780	678	61	case	case	NOUN
cblr-1780	678	62	studied	study	VERB
cblr-1780	678	63	by	by	ADP
cblr-1780	678	64	bartlett	bartlett	PROPN
cblr-1780	678	65	,	,	PUNCT
cblr-1780	678	66	drawing	draw	VERB
cblr-1780	678	67	a	a	DET
cblr-1780	678	68	link	link	NOUN
cblr-1780	678	69	between	between	ADP
cblr-1780	678	70	the	the	DET
cblr-1780	678	71	mandatory	mandatory	ADJ
cblr-1780	678	72	disclosure	disclosure	NOUN
cblr-1780	678	73	of	of	ADP
cblr-1780	678	74	information	information	NOUN
cblr-1780	678	75	regarding	regard	VERB
cblr-1780	678	76	a	a	DET
cblr-1780	678	77	specific	specific	ADJ
cblr-1780	678	78	topic	topic	NOUN
cblr-1780	678	79	and	and	CCONJ
cblr-1780	678	80	the	the	DET
cblr-1780	678	81	economy	economy	NOUN
cblr-1780	678	82	-	-	PUNCT
cblr-1780	678	83	wide	wide	ADJ
cblr-1780	678	84	benefits	benefit	NOUN
cblr-1780	678	85	public	public	ADJ
cblr-1780	678	86	disclosures	disclosure	NOUN
cblr-1780	678	87	can	can	AUX
cblr-1780	678	88	provide	provide	VERB
cblr-1780	678	89	would	would	AUX
cblr-1780	678	90	seem	seem	VERB
cblr-1780	678	91	to	to	PART
cblr-1780	678	92	be	be	AUX
cblr-1780	678	93	exceedingly	exceedingly	ADV
cblr-1780	678	94	difficult	difficult	ADJ
cblr-1780	678	95	.	.	PUNCT
cblr-1780	679	1	even	even	ADV
cblr-1780	679	2	if	if	SCONJ
cblr-1780	679	3	investors	investor	NOUN
cblr-1780	679	4	and	and	CCONJ
cblr-1780	679	5	securities	security	NOUN
cblr-1780	679	6	markets	market	NOUN
cblr-1780	679	7	have	have	AUX
cblr-1780	679	8	benefited	benefit	VERB
cblr-1780	679	9	from	from	ADP
cblr-1780	679	10	the	the	DET
cblr-1780	679	11	imposition	imposition	NOUN
cblr-1780	679	12	of	of	ADP
cblr-1780	679	13	disclosure	disclosure	NOUN
cblr-1780	679	14	requirements	requirement	NOUN
cblr-1780	679	15	that	that	PRON
cblr-1780	679	16	address	address	NOUN
cblr-1780	679	17	distortions	distortion	NOUN
cblr-1780	679	18	caused	cause	VERB
cblr-1780	679	19	by	by	ADP
cblr-1780	679	20	positive	positive	ADJ
cblr-1780	679	21	externalities	externality	NOUN
cblr-1780	679	22	,	,	PUNCT
cblr-1780	679	23	our	our	PRON
cblr-1780	679	24	ability	ability	NOUN
cblr-1780	679	25	to	to	PART
cblr-1780	679	26	draw	draw	VERB
cblr-1780	679	27	insight	insight	NOUN
cblr-1780	679	28	from	from	ADP
cblr-1780	679	29	this	this	DET
cblr-1780	679	30	observation	observation	NOUN
cblr-1780	679	31	to	to	PART
cblr-1780	679	32	reach	reach	VERB
cblr-1780	679	33	conclusions	conclusion	NOUN
cblr-1780	679	34	about	about	ADP
cblr-1780	679	35	whether	whether	SCONJ
cblr-1780	679	36	information	information	NOUN
cblr-1780	679	37	regarding	regard	VERB
cblr-1780	679	38	a	a	DET
cblr-1780	679	39	specific	specific	ADJ
cblr-1780	679	40	topic	topic	NOUN
cblr-1780	679	41	should	should	AUX
cblr-1780	679	42	be	be	AUX
cblr-1780	679	43	subject	subject	ADJ
cblr-1780	679	44	to	to	ADP
cblr-1780	679	45	a	a	DET
cblr-1780	679	46	mandatory	mandatory	ADJ
cblr-1780	679	47	disclosure	disclosure	NOUN
cblr-1780	679	48	requirement	requirement	NOUN
cblr-1780	679	49	is	be	AUX
cblr-1780	679	50	quite	quite	ADV
cblr-1780	679	51	limited	limited	ADJ
cblr-1780	679	52	.	.	PUNCT
cblr-1780	680	1	various	various	ADJ
cblr-1780	680	2	approaches	approach	NOUN
cblr-1780	680	3	could	could	AUX
cblr-1780	680	4	be	be	AUX
cblr-1780	680	5	tried	try	VERB
cblr-1780	680	6	to	to	PART
cblr-1780	680	7	overcome	overcome	VERB
cblr-1780	680	8	these	these	DET
cblr-1780	680	9	obstacles	obstacle	NOUN
cblr-1780	680	10	.	.	PUNCT
cblr-1780	681	1	one	one	NUM
cblr-1780	681	2	approach	approach	NOUN
cblr-1780	681	3	would	would	AUX
cblr-1780	681	4	be	be	AUX
cblr-1780	681	5	to	to	PART
cblr-1780	681	6	identify	identify	VERB
cblr-1780	681	7	those	those	DET
cblr-1780	681	8	types	type	NOUN
cblr-1780	681	9	of	of	ADP
cblr-1780	681	10	information	information	NOUN
cblr-1780	681	11	that	that	PRON
cblr-1780	681	12	would	would	AUX
cblr-1780	681	13	both	both	PRON
cblr-1780	681	14	benefit	benefit	VERB
cblr-1780	681	15	competitors	competitor	NOUN
cblr-1780	681	16	and	and	CCONJ
cblr-1780	681	17	prove	prove	VERB
cblr-1780	681	18	useful	useful	ADJ
cblr-1780	681	19	to	to	ADP
cblr-1780	681	20	the	the	DET
cblr-1780	681	21	firm	firm	NOUN
cblr-1780	681	22	’s	’s	PART
cblr-1780	681	23	investors	investor	NOUN
cblr-1780	681	24	,	,	PUNCT
cblr-1780	681	25	if	if	SCONJ
cblr-1780	681	26	disclosed	disclose	VERB
cblr-1780	681	27	.	.	PUNCT
cblr-1780	682	1	an	an	DET
cblr-1780	682	2	alternative	alternative	ADJ
cblr-1780	682	3	approach	approach	NOUN
cblr-1780	682	4	is	be	AUX
cblr-1780	682	5	to	to	PART
cblr-1780	682	6	look	look	VERB
cblr-1780	682	7	to	to	ADP
cblr-1780	682	8	disclosure	disclosure	NOUN
cblr-1780	682	9	policies	policy	NOUN
cblr-1780	682	10	where	where	SCONJ
cblr-1780	682	11	externalities	externality	NOUN
cblr-1780	682	12	do	do	AUX
cblr-1780	682	13	not	not	PART
cblr-1780	682	14	distort	distort	VERB
cblr-1780	682	15	disclosure	disclosure	NOUN
cblr-1780	682	16	policies	policy	NOUN
cblr-1780	682	17	,	,	PUNCT
cblr-1780	682	18	such	such	ADJ
cblr-1780	682	19	as	as	ADP
cblr-1780	682	20	in	in	ADP
cblr-1780	682	21	private	private	ADJ
cblr-1780	682	22	156	156	NUM
cblr-1780	682	23	marcel	marcel	PROPN
cblr-1780	682	24	kahan	kahan	PROPN
cblr-1780	682	25	,	,	PUNCT
cblr-1780	682	26	securities	security	NOUN
cblr-1780	682	27	laws	law	NOUN
cblr-1780	682	28	and	and	CCONJ
cblr-1780	682	29	the	the	DET
cblr-1780	682	30	social	social	ADJ
cblr-1780	682	31	costs	cost	NOUN
cblr-1780	682	32	of	of	ADP
cblr-1780	682	33	“	"	PUNCT
cblr-1780	682	34	inaccurate	inaccurate	ADJ
cblr-1780	682	35	”	"	PUNCT
cblr-1780	682	36	stock	stock	NOUN
cblr-1780	682	37	prices	price	NOUN
cblr-1780	682	38	,	,	PUNCT
cblr-1780	682	39	41	41	NUM
cblr-1780	682	40	duke	duke	PROPN
cblr-1780	682	41	l.j	l.j	PROPN
cblr-1780	682	42	.	.	PROPN
cblr-1780	682	43	977	977	NUM
cblr-1780	682	44	,	,	PUNCT
cblr-1780	682	45	1005–42	1005–42	NUM
cblr-1780	682	46	(	(	PUNCT
cblr-1780	682	47	1992	1992	NUM
cblr-1780	682	48	)	)	PUNCT
cblr-1780	682	49	.	.	PUNCT
cblr-1780	683	1	see	see	VERB
cblr-1780	683	2	also	also	ADV
cblr-1780	683	3	guttentag	guttentag	VERB
cblr-1780	683	4	,	,	PUNCT
cblr-1780	683	5	patching	patch	VERB
cblr-1780	683	6	a	a	DET
cblr-1780	683	7	hole	hole	NOUN
cblr-1780	683	8	,	,	PUNCT
cblr-1780	683	9	supra	supra	PROPN
cblr-1780	683	10	note	note	PROPN
cblr-1780	683	11	100	100	NUM
cblr-1780	683	12	,	,	PUNCT
cblr-1780	683	13	at	at	ADP
cblr-1780	683	14	183	183	NUM
cblr-1780	683	15	.	.	PUNCT
cblr-1780	684	1	there	there	PRON
cblr-1780	684	2	is	be	VERB
cblr-1780	684	3	related	related	ADJ
cblr-1780	684	4	evidence	evidence	NOUN
cblr-1780	684	5	that	that	SCONJ
cblr-1780	684	6	fraudulent	fraudulent	ADJ
cblr-1780	684	7	financial	financial	ADJ
cblr-1780	684	8	reporting	reporting	NOUN
cblr-1780	684	9	,	,	PUNCT
cblr-1780	684	10	which	which	PRON
cblr-1780	684	11	is	be	AUX
cblr-1780	684	12	admittedly	admittedly	ADV
cblr-1780	684	13	an	an	DET
cblr-1780	684	14	extreme	extreme	ADJ
cblr-1780	684	15	version	version	NOUN
cblr-1780	684	16	of	of	ADP
cblr-1780	684	17	inaccurate	inaccurate	ADJ
cblr-1780	684	18	financial	financial	ADJ
cblr-1780	684	19	reporting	reporting	NOUN
cblr-1780	684	20	,	,	PUNCT
cblr-1780	684	21	can	can	AUX
cblr-1780	684	22	distort	distort	VERB
cblr-1780	684	23	real	real	ADJ
cblr-1780	684	24	economic	economic	ADJ
cblr-1780	684	25	investment	investment	NOUN
cblr-1780	684	26	policy	policy	NOUN
cblr-1780	684	27	.	.	PUNCT
cblr-1780	685	1	anne	anne	PROPN
cblr-1780	685	2	beatty	beatty	PROPN
cblr-1780	685	3	et	et	PROPN
cblr-1780	685	4	al	al	PROPN
cblr-1780	685	5	.	.	PROPN
cblr-1780	685	6	,	,	PUNCT
cblr-1780	685	7	the	the	DET
cblr-1780	685	8	spillover	spillover	ADJ
cblr-1780	685	9	effect	effect	NOUN
cblr-1780	685	10	of	of	ADP
cblr-1780	685	11	fraudulent	fraudulent	ADJ
cblr-1780	685	12	financial	financial	ADJ
cblr-1780	685	13	reporting	reporting	NOUN
cblr-1780	685	14	on	on	ADP
cblr-1780	685	15	peer	peer	NOUN
cblr-1780	685	16	firms	firm	NOUN
cblr-1780	685	17	’	'	PUNCT
cblr-1780	685	18	investments	investment	NOUN
cblr-1780	685	19	,	,	PUNCT
cblr-1780	685	20	55	55	NUM
cblr-1780	685	21	j.	j.	PROPN
cblr-1780	685	22	acct	acct	PROPN
cblr-1780	685	23	.	.	PROPN
cblr-1780	685	24	&	&	CCONJ
cblr-1780	685	25	econ	econ	PROPN
cblr-1780	685	26	.	.	PUNCT
cblr-1780	686	1	183	183	NUM
cblr-1780	686	2	,	,	PUNCT
cblr-1780	686	3	185	185	NUM
cblr-1780	686	4	(	(	PUNCT
cblr-1780	686	5	2013	2013	NUM
cblr-1780	686	6	)	)	PUNCT
cblr-1780	686	7	.	.	PUNCT
cblr-1780	687	1	157	157	NUM
cblr-1780	687	2	see	see	VERB
cblr-1780	687	3	,	,	PUNCT
cblr-1780	687	4	e.g.	e.g.	ADV
cblr-1780	687	5	,	,	PUNCT
cblr-1780	687	6	robert	robert	PROPN
cblr-1780	687	7	p.	p.	PROPN
cblr-1780	687	8	bartlett	bartlett	PROPN
cblr-1780	687	9	,	,	PUNCT
cblr-1780	687	10	iii	iii	PROPN
cblr-1780	687	11	,	,	PUNCT
cblr-1780	687	12	making	make	VERB
cblr-1780	687	13	banks	bank	NOUN
cblr-1780	687	14	transparent	transparent	ADJ
cblr-1780	687	15	,	,	PUNCT
cblr-1780	687	16	65	65	NUM
cblr-1780	687	17	vand	vand	NOUN
cblr-1780	687	18	.	.	PUNCT
cblr-1780	688	1	l.	l.	PROPN
cblr-1780	688	2	rev	rev	PROPN
cblr-1780	688	3	.	.	PROPN
cblr-1780	688	4	293	293	NUM
cblr-1780	688	5	,	,	PUNCT
cblr-1780	688	6	295–96	295–96	NUM
cblr-1780	688	7	(	(	PUNCT
cblr-1780	688	8	2012	2012	NUM
cblr-1780	688	9	)	)	PUNCT
cblr-1780	688	10	.	.	PUNCT
cblr-1780	689	1	guttentag	guttentag	NOUN
cblr-1780	689	2	–	–	PUNCT
cblr-1780	689	3	final	final	ADJ
cblr-1780	689	4	642	642	NUM
cblr-1780	689	5	columbia	columbia	PROPN
cblr-1780	689	6	business	business	NOUN
cblr-1780	689	7	law	law	PROPN
cblr-1780	689	8	review	review	NOUN
cblr-1780	690	1	[	[	X
cblr-1780	690	2	vol	vol	NOUN
cblr-1780	690	3	.	.	PUNCT
cblr-1780	690	4	2014	2014	NUM
cblr-1780	690	5	transactions	transaction	NOUN
cblr-1780	690	6	,	,	PUNCT
cblr-1780	690	7	for	for	ADP
cblr-1780	690	8	guidance	guidance	NOUN
cblr-1780	690	9	as	as	ADP
cblr-1780	690	10	to	to	ADP
cblr-1780	690	11	when	when	SCONJ
cblr-1780	690	12	information	information	NOUN
cblr-1780	690	13	regarding	regard	VERB
cblr-1780	690	14	a	a	DET
cblr-1780	690	15	specific	specific	ADJ
cblr-1780	690	16	topic	topic	NOUN
cblr-1780	690	17	should	should	AUX
cblr-1780	690	18	be	be	AUX
cblr-1780	690	19	required	require	VERB
cblr-1780	690	20	to	to	PART
cblr-1780	690	21	be	be	AUX
cblr-1780	690	22	disclosed	disclose	VERB
cblr-1780	690	23	.	.	PUNCT
cblr-1780	691	1	a	a	DET
cblr-1780	691	2	third	third	ADJ
cblr-1780	691	3	approach	approach	NOUN
cblr-1780	691	4	would	would	AUX
cblr-1780	691	5	be	be	AUX
cblr-1780	691	6	to	to	PART
cblr-1780	691	7	assume	assume	VERB
cblr-1780	691	8	that	that	SCONJ
cblr-1780	691	9	any	any	DET
cblr-1780	691	10	information	information	NOUN
cblr-1780	691	11	that	that	PRON
cblr-1780	691	12	might	might	AUX
cblr-1780	691	13	be	be	AUX
cblr-1780	691	14	of	of	ADP
cblr-1780	691	15	interest	interest	NOUN
cblr-1780	691	16	to	to	ADP
cblr-1780	691	17	a	a	DET
cblr-1780	691	18	reasonable	reasonable	ADJ
cblr-1780	691	19	investor	investor	NOUN
cblr-1780	691	20	would	would	AUX
cblr-1780	691	21	be	be	AUX
cblr-1780	691	22	disclosed	disclose	VERB
cblr-1780	691	23	,	,	PUNCT
cblr-1780	691	24	but	but	CCONJ
cblr-1780	691	25	for	for	ADP
cblr-1780	691	26	distortions	distortion	NOUN
cblr-1780	691	27	caused	cause	VERB
cblr-1780	691	28	by	by	ADP
cblr-1780	691	29	positive	positive	ADJ
cblr-1780	691	30	externalities	externality	NOUN
cblr-1780	691	31	.	.	PUNCT
cblr-1780	692	1	this	this	DET
cblr-1780	692	2	third	third	ADJ
cblr-1780	692	3	approach	approach	NOUN
cblr-1780	692	4	is	be	AUX
cblr-1780	692	5	almost	almost	ADV
cblr-1780	692	6	certainly	certainly	ADV
cblr-1780	692	7	an	an	DET
cblr-1780	692	8	over	over	ADP
cblr-1780	692	9	-	-	PUNCT
cblr-1780	692	10	inclusive	inclusive	ADJ
cblr-1780	692	11	way	way	NOUN
cblr-1780	692	12	to	to	PART
cblr-1780	692	13	address	address	VERB
cblr-1780	692	14	distortions	distortion	NOUN
cblr-1780	692	15	caused	cause	VERB
cblr-1780	692	16	by	by	ADP
cblr-1780	692	17	positive	positive	ADJ
cblr-1780	692	18	externalities	externality	NOUN
cblr-1780	692	19	.	.	PUNCT
cblr-1780	693	1	2	2	X
cblr-1780	693	2	.	.	X
cblr-1780	693	3	reducing	reduce	VERB
cblr-1780	693	4	tunneling	tunneling	NOUN
cblr-1780	693	5	and	and	CCONJ
cblr-1780	693	6	topic	topic	NOUN
cblr-1780	693	7	-	-	PUNCT
cblr-1780	693	8	specific	specific	ADJ
cblr-1780	693	9	disclosure	disclosure	NOUN
cblr-1780	693	10	requirements	requirement	NOUN
cblr-1780	693	11	the	the	DET
cblr-1780	693	12	second	second	ADJ
cblr-1780	693	13	type	type	NOUN
cblr-1780	693	14	of	of	ADP
cblr-1780	693	15	market	market	NOUN
cblr-1780	693	16	failure	failure	NOUN
cblr-1780	693	17	that	that	PRON
cblr-1780	693	18	justifies	justify	VERB
cblr-1780	693	19	imposing	impose	VERB
cblr-1780	693	20	disclosure	disclosure	NOUN
cblr-1780	693	21	requirements	requirement	NOUN
cblr-1780	693	22	on	on	ADP
cblr-1780	693	23	public	public	ADJ
cblr-1780	693	24	companies	company	NOUN
cblr-1780	693	25	arises	arise	VERB
cblr-1780	693	26	out	out	ADP
cblr-1780	693	27	of	of	ADP
cblr-1780	693	28	insiders	insider	NOUN
cblr-1780	693	29	’	'	PUNCT
cblr-1780	693	30	desire	desire	NOUN
cblr-1780	693	31	to	to	PART
cblr-1780	693	32	adopt	adopt	VERB
cblr-1780	693	33	disclosure	disclosure	NOUN
cblr-1780	693	34	policies	policy	NOUN
cblr-1780	693	35	that	that	PRON
cblr-1780	693	36	maximize	maximize	VERB
cblr-1780	693	37	their	their	PRON
cblr-1780	693	38	own	own	ADJ
cblr-1780	693	39	welfare	welfare	NOUN
cblr-1780	693	40	rather	rather	ADV
cblr-1780	693	41	than	than	ADP
cblr-1780	693	42	firm	firm	ADJ
cblr-1780	693	43	value.158	value.158	NOUN
cblr-1780	693	44	there	there	PRON
cblr-1780	693	45	is	be	VERB
cblr-1780	693	46	evidence	evidence	NOUN
cblr-1780	693	47	that	that	SCONJ
cblr-1780	693	48	without	without	ADP
cblr-1780	693	49	mandatory	mandatory	ADJ
cblr-1780	693	50	disclosure	disclosure	NOUN
cblr-1780	693	51	regulation	regulation	NOUN
cblr-1780	693	52	insiders	insider	NOUN
cblr-1780	693	53	will	will	AUX
cblr-1780	693	54	adopt	adopt	VERB
cblr-1780	693	55	disclosure	disclosure	NOUN
cblr-1780	693	56	policies	policy	NOUN
cblr-1780	693	57	that	that	PRON
cblr-1780	693	58	facilitate	facilitate	VERB
cblr-1780	693	59	tunneling	tunnel	VERB
cblr-1780	693	60	at	at	ADP
cblr-1780	693	61	the	the	DET
cblr-1780	693	62	expense	expense	NOUN
cblr-1780	693	63	of	of	ADP
cblr-1780	693	64	maximizing	maximize	VERB
cblr-1780	693	65	firm	firm	ADJ
cblr-1780	693	66	value	value	NOUN
cblr-1780	693	67	.	.	PUNCT
cblr-1780	694	1	michael	michael	PROPN
cblr-1780	694	2	greenstone	greenstone	PROPN
cblr-1780	694	3	and	and	CCONJ
cblr-1780	694	4	colleagues	colleague	NOUN
cblr-1780	694	5	(	(	PUNCT
cblr-1780	694	6	“	"	PUNCT
cblr-1780	694	7	greenstone	greenstone	NOUN
cblr-1780	694	8	et	et	NOUN
cblr-1780	694	9	al	al	PROPN
cblr-1780	694	10	.	.	PUNCT
cblr-1780	694	11	”	"	PUNCT
cblr-1780	694	12	)	)	PUNCT
cblr-1780	694	13	studied	study	VERB
cblr-1780	694	14	the	the	DET
cblr-1780	694	15	impact	impact	NOUN
cblr-1780	694	16	of	of	ADP
cblr-1780	694	17	an	an	DET
cblr-1780	694	18	amendment	amendment	NOUN
cblr-1780	694	19	to	to	ADP
cblr-1780	694	20	the	the	DET
cblr-1780	694	21	exchange	exchange	NOUN
cblr-1780	694	22	act	act	NOUN
cblr-1780	694	23	enacted	enact	VERB
cblr-1780	694	24	in	in	ADP
cblr-1780	694	25	1964	1964	NUM
cblr-1780	694	26	(	(	PUNCT
cblr-1780	694	27	“	"	PUNCT
cblr-1780	694	28	1964	1964	NUM
cblr-1780	694	29	amendment	amendment	NOUN
cblr-1780	694	30	”	"	PUNCT
cblr-1780	694	31	)	)	PUNCT
cblr-1780	694	32	,	,	PUNCT
cblr-1780	694	33	which	which	PRON
cblr-1780	694	34	forced	force	VERB
cblr-1780	694	35	several	several	ADJ
cblr-1780	694	36	thousand	thousand	NUM
cblr-1780	694	37	firms	firm	NOUN
cblr-1780	694	38	to	to	PART
cblr-1780	694	39	comply	comply	VERB
cblr-1780	694	40	with	with	ADP
cblr-1780	694	41	public	public	ADJ
cblr-1780	694	42	company	company	NOUN
cblr-1780	694	43	disclosure	disclosure	NOUN
cblr-1780	694	44	requirements	requirement	NOUN
cblr-1780	694	45	for	for	ADP
cblr-1780	694	46	the	the	DET
cblr-1780	694	47	first	first	ADJ
cblr-1780	694	48	time.159	time.159	ADJ
cblr-1780	694	49	greenstone	greenstone	NOUN
cblr-1780	694	50	et	et	PROPN
cblr-1780	694	51	al	al	PROPN
cblr-1780	694	52	.	.	PROPN
cblr-1780	694	53	found	find	VERB
cblr-1780	694	54	that	that	SCONJ
cblr-1780	694	55	the	the	DET
cblr-1780	694	56	affected	affect	VERB
cblr-1780	694	57	firms	firm	NOUN
cblr-1780	694	58	’	'	PUNCT
cblr-1780	694	59	value	value	NOUN
cblr-1780	694	60	went	go	VERB
cblr-1780	694	61	up	up	ADP
cblr-1780	694	62	both	both	PRON
cblr-1780	694	63	when	when	SCONJ
cblr-1780	694	64	the	the	DET
cblr-1780	694	65	legislation	legislation	NOUN
cblr-1780	694	66	was	be	AUX
cblr-1780	694	67	announced	announce	VERB
cblr-1780	694	68	and	and	CCONJ
cblr-1780	694	69	during	during	ADP
cblr-1780	694	70	the	the	DET
cblr-1780	694	71	period	period	NOUN
cblr-1780	694	72	between	between	ADP
cblr-1780	694	73	the	the	DET
cblr-1780	694	74	announcement	announcement	NOUN
cblr-1780	694	75	of	of	ADP
cblr-1780	694	76	the	the	DET
cblr-1780	694	77	legislation	legislation	NOUN
cblr-1780	694	78	and	and	CCONJ
cblr-1780	694	79	the	the	DET
cblr-1780	694	80	legislation	legislation	NOUN
cblr-1780	694	81	going	go	VERB
cblr-1780	694	82	into	into	ADP
cblr-1780	694	83	effect	effect	NOUN
cblr-1780	694	84	.	.	PUNCT
cblr-1780	695	1	this	this	DET
cblr-1780	695	2	measurable	measurable	ADJ
cblr-1780	695	3	benefit	benefit	NOUN
cblr-1780	695	4	is	be	AUX
cblr-1780	695	5	best	well	ADV
cblr-1780	695	6	explained	explain	VERB
cblr-1780	695	7	as	as	ADP
cblr-1780	695	8	158	158	NUM
cblr-1780	695	9	for	for	ADP
cblr-1780	695	10	a	a	DET
cblr-1780	695	11	model	model	NOUN
cblr-1780	695	12	illustrating	illustrate	VERB
cblr-1780	695	13	how	how	SCONJ
cblr-1780	695	14	this	this	DET
cblr-1780	695	15	type	type	NOUN
cblr-1780	695	16	of	of	ADP
cblr-1780	695	17	self	self	NOUN
cblr-1780	695	18	-	-	PUNCT
cblr-1780	695	19	serving	serve	VERB
cblr-1780	695	20	insider	insider	NOUN
cblr-1780	695	21	behavior	behavior	NOUN
cblr-1780	695	22	is	be	AUX
cblr-1780	695	23	sustainable	sustainable	ADJ
cblr-1780	695	24	in	in	ADP
cblr-1780	695	25	efficient	efficient	ADJ
cblr-1780	695	26	public	public	ADJ
cblr-1780	695	27	securities	security	NOUN
cblr-1780	695	28	markets	market	NOUN
cblr-1780	695	29	,	,	PUNCT
cblr-1780	695	30	see	see	VERB
cblr-1780	695	31	lucian	lucian	PROPN
cblr-1780	695	32	a.	a.	PROPN
cblr-1780	695	33	bebchuk	bebchuk	PROPN
cblr-1780	695	34	&	&	CCONJ
cblr-1780	695	35	zvika	zvika	PROPN
cblr-1780	695	36	neeman	neeman	PROPN
cblr-1780	695	37	,	,	PUNCT
cblr-1780	695	38	investor	investor	NOUN
cblr-1780	695	39	protection	protection	NOUN
cblr-1780	695	40	and	and	CCONJ
cblr-1780	695	41	interest	interest	NOUN
cblr-1780	695	42	group	group	NOUN
cblr-1780	695	43	politics	politic	NOUN
cblr-1780	695	44	,	,	PUNCT
cblr-1780	695	45	23	23	NUM
cblr-1780	695	46	rev	rev	X
cblr-1780	695	47	.	.	PROPN
cblr-1780	695	48	fin	fin	NOUN
cblr-1780	695	49	.	.	PUNCT
cblr-1780	695	50	stud	stud	PROPN
cblr-1780	695	51	.	.	PUNCT
cblr-1780	696	1	1089	1089	NUM
cblr-1780	696	2	,	,	PUNCT
cblr-1780	696	3	1089–90	1089–90	NUM
cblr-1780	696	4	(	(	PUNCT
cblr-1780	696	5	2010	2010	NUM
cblr-1780	696	6	)	)	PUNCT
cblr-1780	696	7	.	.	PUNCT
cblr-1780	697	1	159	159	NUM
cblr-1780	697	2	michael	michael	PROPN
cblr-1780	697	3	greenstone	greenstone	NOUN
cblr-1780	697	4	,	,	PUNCT
cblr-1780	697	5	paul	paul	PROPN
cblr-1780	697	6	oyer	oyer	PROPN
cblr-1780	697	7	&	&	CCONJ
cblr-1780	697	8	annette	annette	PROPN
cblr-1780	697	9	vissing	vissing	PROPN
cblr-1780	697	10	-	-	PUNCT
cblr-1780	697	11	jorgensen	jorgensen	PROPN
cblr-1780	697	12	,	,	PUNCT
cblr-1780	697	13	mandated	mandate	VERB
cblr-1780	697	14	disclosure	disclosure	NOUN
cblr-1780	697	15	,	,	PUNCT
cblr-1780	697	16	stock	stock	NOUN
cblr-1780	697	17	returns	return	NOUN
cblr-1780	697	18	,	,	PUNCT
cblr-1780	697	19	and	and	CCONJ
cblr-1780	697	20	the	the	DET
cblr-1780	697	21	1964	1964	NUM
cblr-1780	697	22	securities	security	NOUN
cblr-1780	697	23	act	act	NOUN
cblr-1780	697	24	amendments	amendment	NOUN
cblr-1780	697	25	,	,	PUNCT
cblr-1780	697	26	121	121	NUM
cblr-1780	697	27	q.j	q.j	PROPN
cblr-1780	697	28	.	.	PROPN
cblr-1780	697	29	econ	econ	PROPN
cblr-1780	697	30	.	.	PUNCT
cblr-1780	698	1	399	399	NUM
cblr-1780	698	2	,	,	PUNCT
cblr-1780	698	3	399	399	NUM
cblr-1780	698	4	(	(	PUNCT
cblr-1780	698	5	2006	2006	NUM
cblr-1780	698	6	)	)	PUNCT
cblr-1780	698	7	.	.	PUNCT
cblr-1780	699	1	similar	similar	ADJ
cblr-1780	699	2	findings	finding	NOUN
cblr-1780	699	3	based	base	VERB
cblr-1780	699	4	on	on	ADP
cblr-1780	699	5	a	a	DET
cblr-1780	699	6	smaller	small	ADJ
cblr-1780	699	7	sample	sample	NOUN
cblr-1780	699	8	of	of	ADP
cblr-1780	699	9	the	the	DET
cblr-1780	699	10	affected	affected	ADJ
cblr-1780	699	11	securities	security	NOUN
cblr-1780	699	12	are	be	AUX
cblr-1780	699	13	reported	report	VERB
cblr-1780	699	14	in	in	ADP
cblr-1780	699	15	allen	allen	PROPN
cblr-1780	699	16	ferrell	ferrell	PROPN
cblr-1780	699	17	,	,	PUNCT
cblr-1780	699	18	mandatory	mandatory	ADJ
cblr-1780	699	19	disclosure	disclosure	NOUN
cblr-1780	699	20	and	and	CCONJ
cblr-1780	699	21	stock	stock	NOUN
cblr-1780	699	22	returns	return	NOUN
cblr-1780	699	23	:	:	PUNCT
cblr-1780	699	24	evidence	evidence	NOUN
cblr-1780	699	25	from	from	ADP
cblr-1780	699	26	the	the	DET
cblr-1780	699	27	over	over	ADP
cblr-1780	699	28	-	-	PUNCT
cblr-1780	699	29	thecounter	thecounter	NOUN
cblr-1780	699	30	market	market	NOUN
cblr-1780	699	31	,	,	PUNCT
cblr-1780	699	32	36	36	NUM
cblr-1780	699	33	j.	j.	PROPN
cblr-1780	699	34	legal	legal	ADJ
cblr-1780	699	35	stud	stud	NOUN
cblr-1780	699	36	.	.	PUNCT
cblr-1780	700	1	213	213	NUM
cblr-1780	700	2	,	,	PUNCT
cblr-1780	700	3	213–16	213–16	NOUN
cblr-1780	700	4	(	(	PUNCT
cblr-1780	700	5	2007	2007	NUM
cblr-1780	700	6	)	)	PUNCT
cblr-1780	700	7	.	.	PUNCT
cblr-1780	701	1	for	for	ADP
cblr-1780	701	2	a	a	DET
cblr-1780	701	3	more	more	ADV
cblr-1780	701	4	detailed	detailed	ADJ
cblr-1780	701	5	discussion	discussion	NOUN
cblr-1780	701	6	,	,	PUNCT
cblr-1780	701	7	see	see	VERB
cblr-1780	701	8	guttentag	guttentag	NOUN
cblr-1780	701	9	,	,	PUNCT
cblr-1780	701	10	patching	patch	VERB
cblr-1780	701	11	a	a	DET
cblr-1780	701	12	hole	hole	NOUN
cblr-1780	701	13	,	,	PUNCT
cblr-1780	701	14	supra	supra	PROPN
cblr-1780	701	15	note	note	PROPN
cblr-1780	701	16	100	100	NUM
cblr-1780	701	17	,	,	PUNCT
cblr-1780	701	18	at	at	ADP
cblr-1780	701	19	184–88	184–88	NUM
cblr-1780	701	20	.	.	PUNCT
cblr-1780	702	1	guttentag	guttentag	NOUN
cblr-1780	702	2	–	–	PUNCT
cblr-1780	702	3	final	final	ADJ
cblr-1780	702	4	no	no	NOUN
cblr-1780	702	5	.	.	PUNCT
cblr-1780	703	1	3:593	3:593	NUM
cblr-1780	703	2	]	]	PUNCT
cblr-1780	703	3	on	on	ADP
cblr-1780	703	4	political	political	ADJ
cblr-1780	703	5	spending	spending	NOUN
cblr-1780	703	6	disclosure	disclosure	NOUN
cblr-1780	703	7	643	643	NUM
cblr-1780	703	8	evidence	evidence	NOUN
cblr-1780	703	9	that	that	SCONJ
cblr-1780	703	10	imposing	impose	VERB
cblr-1780	703	11	disclosure	disclosure	NOUN
cblr-1780	703	12	requirements	requirement	NOUN
cblr-1780	703	13	on	on	ADP
cblr-1780	703	14	public	public	ADJ
cblr-1780	703	15	companies	company	NOUN
cblr-1780	703	16	can	can	AUX
cblr-1780	703	17	efficiently	efficiently	ADV
cblr-1780	703	18	reduce	reduce	VERB
cblr-1780	703	19	tunneling.160	tunneling.160	NOUN
cblr-1780	704	1	but	but	CCONJ
cblr-1780	704	2	it	it	PRON
cblr-1780	704	3	is	be	AUX
cblr-1780	704	4	difficult	difficult	ADJ
cblr-1780	704	5	to	to	PART
cblr-1780	704	6	know	know	VERB
cblr-1780	704	7	when	when	SCONJ
cblr-1780	704	8	specific	specific	ADJ
cblr-1780	704	9	disclosure	disclosure	NOUN
cblr-1780	704	10	requirements	requirement	NOUN
cblr-1780	704	11	will	will	AUX
cblr-1780	704	12	benefit	benefit	VERB
cblr-1780	704	13	shareholders	shareholder	NOUN
cblr-1780	704	14	by	by	ADP
cblr-1780	704	15	reducing	reduce	VERB
cblr-1780	704	16	tunneling	tunneling	NOUN
cblr-1780	704	17	opportunities	opportunity	NOUN
cblr-1780	704	18	.	.	PUNCT
cblr-1780	705	1	this	this	DET
cblr-1780	705	2	difficulty	difficulty	NOUN
cblr-1780	705	3	arises	arise	VERB
cblr-1780	705	4	because	because	SCONJ
cblr-1780	705	5	there	there	PRON
cblr-1780	705	6	are	be	VERB
cblr-1780	705	7	several	several	ADJ
cblr-1780	705	8	ways	way	NOUN
cblr-1780	705	9	in	in	ADP
cblr-1780	705	10	which	which	PRON
cblr-1780	705	11	disclosure	disclosure	NOUN
cblr-1780	705	12	requirements	requirement	NOUN
cblr-1780	705	13	might	might	AUX
cblr-1780	705	14	reduce	reduce	VERB
cblr-1780	705	15	tunneling	tunneling	NOUN
cblr-1780	705	16	,	,	PUNCT
cblr-1780	705	17	and	and	CCONJ
cblr-1780	705	18	it	it	PRON
cblr-1780	705	19	is	be	AUX
cblr-1780	705	20	unclear	unclear	ADJ
cblr-1780	705	21	which	which	DET
cblr-1780	705	22	ways	way	NOUN
cblr-1780	705	23	are	be	AUX
cblr-1780	705	24	most	most	ADV
cblr-1780	705	25	important	important	ADJ
cblr-1780	705	26	.	.	PUNCT
cblr-1780	706	1	disclosure	disclosure	NOUN
cblr-1780	706	2	requirements	requirement	NOUN
cblr-1780	706	3	might	might	AUX
cblr-1780	706	4	prevent	prevent	VERB
cblr-1780	706	5	tunneling	tunnel	VERB
cblr-1780	706	6	through	through	ADP
cblr-1780	706	7	their	their	PRON
cblr-1780	706	8	deterrent	deterrent	NOUN
cblr-1780	706	9	effect	effect	NOUN
cblr-1780	706	10	,	,	PUNCT
cblr-1780	706	11	a	a	DET
cblr-1780	706	12	possibility	possibility	NOUN
cblr-1780	706	13	that	that	PRON
cblr-1780	706	14	harkens	harken	VERB
cblr-1780	706	15	back	back	ADV
cblr-1780	706	16	to	to	ADP
cblr-1780	706	17	brandeis	brandeis	PROPN
cblr-1780	706	18	’	'	PUNCT
cblr-1780	706	19	metaphor	metaphor	NOUN
cblr-1780	706	20	of	of	ADP
cblr-1780	706	21	disclosure	disclosure	NOUN
cblr-1780	706	22	rules	rule	NOUN
cblr-1780	706	23	acting	act	VERB
cblr-1780	706	24	like	like	ADP
cblr-1780	706	25	a	a	DET
cblr-1780	706	26	street	street	NOUN
cblr-1780	706	27	light.161	light.161	ADJ
cblr-1780	706	28	there	there	PRON
cblr-1780	706	29	is	be	VERB
cblr-1780	706	30	,	,	PUNCT
cblr-1780	706	31	for	for	ADP
cblr-1780	706	32	example	example	NOUN
cblr-1780	706	33	,	,	PUNCT
cblr-1780	706	34	a	a	DET
cblr-1780	706	35	longstanding	longstanding	ADJ
cblr-1780	706	36	precedent	precedent	NOUN
cblr-1780	706	37	of	of	ADP
cblr-1780	706	38	relying	rely	VERB
cblr-1780	706	39	on	on	ADP
cblr-1780	706	40	the	the	DET
cblr-1780	706	41	disclosure	disclosure	NOUN
cblr-1780	706	42	of	of	ADP
cblr-1780	706	43	conflict	conflict	NOUN
cblr-1780	706	44	-	-	PUNCT
cblr-1780	706	45	of	of	ADP
cblr-1780	706	46	-	-	PUNCT
cblr-1780	706	47	interest	interest	NOUN
cblr-1780	706	48	transactions	transaction	NOUN
cblr-1780	706	49	to	to	PART
cblr-1780	706	50	reduce	reduce	VERB
cblr-1780	706	51	tunneling	tunneling	NOUN
cblr-1780	706	52	and	and	CCONJ
cblr-1780	706	53	deter	deter	VERB
cblr-1780	706	54	untoward	untoward	ADV
cblr-1780	706	55	behavior,162	behavior,162	PUNCT
cblr-1780	707	1	but	but	CCONJ
cblr-1780	707	2	evidence	evidence	NOUN
cblr-1780	707	3	of	of	ADP
cblr-1780	707	4	the	the	DET
cblr-1780	707	5	extent	extent	NOUN
cblr-1780	707	6	to	to	PART
cblr-1780	707	7	which	which	PRON
cblr-1780	707	8	disclosure	disclosure	NOUN
cblr-1780	707	9	rules	rule	NOUN
cblr-1780	707	10	can	can	AUX
cblr-1780	707	11	effectively	effectively	ADV
cblr-1780	707	12	deter	deter	VERB
cblr-1780	707	13	untoward	untoward	ADJ
cblr-1780	707	14	behavior	behavior	NOUN
cblr-1780	707	15	in	in	ADP
cblr-1780	707	16	this	this	DET
cblr-1780	707	17	way	way	NOUN
cblr-1780	707	18	is	be	AUX
cblr-1780	707	19	ambiguous	ambiguous	ADJ
cblr-1780	707	20	.	.	PUNCT
cblr-1780	708	1	one	one	NUM
cblr-1780	708	2	psychology	psychology	NOUN
cblr-1780	708	3	experiment	experiment	NOUN
cblr-1780	708	4	found	find	VERB
cblr-1780	708	5	that	that	SCONJ
cblr-1780	708	6	the	the	DET
cblr-1780	708	7	mere	mere	ADJ
cblr-1780	708	8	presence	presence	NOUN
cblr-1780	708	9	of	of	ADP
cblr-1780	708	10	a	a	DET
cblr-1780	708	11	disclosure	disclosure	NOUN
cblr-1780	708	12	requirement	requirement	NOUN
cblr-1780	708	13	,	,	PUNCT
cblr-1780	708	14	even	even	ADV
cblr-1780	708	15	if	if	SCONJ
cblr-1780	708	16	the	the	DET
cblr-1780	708	17	information	information	NOUN
cblr-1780	708	18	required	require	VERB
cblr-1780	708	19	to	to	PART
cblr-1780	708	20	be	be	AUX
cblr-1780	708	21	disclosed	disclose	VERB
cblr-1780	708	22	was	be	AUX
cblr-1780	708	23	trivial	trivial	ADJ
cblr-1780	708	24	,	,	PUNCT
cblr-1780	708	25	could	could	AUX
cblr-1780	708	26	significantly	significantly	ADV
cblr-1780	708	27	reduce	reduce	VERB
cblr-1780	708	28	morally	morally	ADV
cblr-1780	708	29	questionable	questionable	ADJ
cblr-1780	708	30	behavior	behavior	NOUN
cblr-1780	708	31	,	,	PUNCT
cblr-1780	708	32	while	while	SCONJ
cblr-1780	708	33	another	another	DET
cblr-1780	708	34	psychology	psychology	NOUN
cblr-1780	708	35	experiment	experiment	NOUN
cblr-1780	708	36	found	find	VERB
cblr-1780	708	37	that	that	SCONJ
cblr-1780	708	38	mandatory	mandatory	ADJ
cblr-1780	708	39	disclosure	disclosure	NOUN
cblr-1780	708	40	of	of	ADP
cblr-1780	708	41	a	a	DET
cblr-1780	708	42	conflict	conflict	NOUN
cblr-1780	708	43	of	of	ADP
cblr-1780	708	44	interest	interest	NOUN
cblr-1780	708	45	can	can	AUX
cblr-1780	708	46	have	have	VERB
cblr-1780	708	47	a	a	DET
cblr-1780	708	48	disinhibitory	disinhibitory	NOUN
cblr-1780	708	49	effect.163	effect.163	NOUN
cblr-1780	708	50	a	a	DET
cblr-1780	708	51	second	second	ADJ
cblr-1780	708	52	way	way	NOUN
cblr-1780	708	53	in	in	ADP
cblr-1780	708	54	which	which	PRON
cblr-1780	708	55	disclosure	disclosure	NOUN
cblr-1780	708	56	requirements	requirement	NOUN
cblr-1780	708	57	can	can	AUX
cblr-1780	708	58	affect	affect	VERB
cblr-1780	708	59	the	the	DET
cblr-1780	708	60	level	level	NOUN
cblr-1780	708	61	of	of	ADP
cblr-1780	708	62	tunneling	tunneling	NOUN
cblr-1780	708	63	by	by	ADP
cblr-1780	708	64	firm	firm	ADJ
cblr-1780	708	65	insiders	insider	NOUN
cblr-1780	708	66	is	be	AUX
cblr-1780	708	67	through	through	ADP
cblr-1780	708	68	the	the	DET
cblr-1780	708	69	160	160	NUM
cblr-1780	708	70	firms	firm	NOUN
cblr-1780	708	71	can	can	AUX
cblr-1780	708	72	voluntarily	voluntarily	ADV
cblr-1780	708	73	elect	elect	VERB
cblr-1780	708	74	in	in	ADP
cblr-1780	708	75	various	various	ADJ
cblr-1780	708	76	ways	way	NOUN
cblr-1780	708	77	to	to	PART
cblr-1780	708	78	be	be	AUX
cblr-1780	708	79	subject	subject	ADJ
cblr-1780	708	80	to	to	ADP
cblr-1780	708	81	the	the	DET
cblr-1780	708	82	same	same	ADJ
cblr-1780	708	83	disclosure	disclosure	NOUN
cblr-1780	708	84	requirements	requirement	NOUN
cblr-1780	708	85	that	that	PRON
cblr-1780	708	86	were	be	AUX
cblr-1780	708	87	forcibly	forcibly	ADV
cblr-1780	708	88	imposed	impose	VERB
cblr-1780	708	89	upon	upon	SCONJ
cblr-1780	708	90	them	they	PRON
cblr-1780	708	91	by	by	ADP
cblr-1780	708	92	the	the	DET
cblr-1780	708	93	1964	1964	NUM
cblr-1780	708	94	amendment	amendment	NOUN
cblr-1780	708	95	.	.	PUNCT
cblr-1780	709	1	rock	rock	PROPN
cblr-1780	709	2	,	,	PUNCT
cblr-1780	709	3	supra	supra	PROPN
cblr-1780	709	4	note	note	PROPN
cblr-1780	709	5	72	72	NUM
cblr-1780	709	6	,	,	PUNCT
cblr-1780	709	7	at	at	ADP
cblr-1780	709	8	678–82	678–82	NUM
cblr-1780	709	9	.	.	PUNCT
cblr-1780	710	1	161	161	NUM
cblr-1780	710	2	see	see	VERB
cblr-1780	710	3	brandeis	brandeis	PROPN
cblr-1780	710	4	,	,	PUNCT
cblr-1780	710	5	supra	supra	PROPN
cblr-1780	710	6	note	note	NOUN
cblr-1780	710	7	131	131	NUM
cblr-1780	710	8	and	and	CCONJ
cblr-1780	710	9	accompanying	accompany	VERB
cblr-1780	710	10	text	text	NOUN
cblr-1780	710	11	.	.	PUNCT
cblr-1780	711	1	162	162	NUM
cblr-1780	711	2	see	see	VERB
cblr-1780	711	3	,	,	PUNCT
cblr-1780	711	4	e.g.	e.g.	ADV
cblr-1780	711	5	,	,	PUNCT
cblr-1780	711	6	mahoney	mahoney	PROPN
cblr-1780	711	7	,	,	PUNCT
cblr-1780	711	8	supra	supra	PROPN
cblr-1780	711	9	note	note	PROPN
cblr-1780	711	10	72	72	NUM
cblr-1780	711	11	,	,	PUNCT
cblr-1780	711	12	at	at	ADP
cblr-1780	711	13	1048–49	1048–49	NUM
cblr-1780	711	14	.	.	PUNCT
cblr-1780	712	1	163	163	NUM
cblr-1780	712	2	daylian	daylian	PROPN
cblr-1780	712	3	m.	m.	NOUN
cblr-1780	712	4	cain	cain	PROPN
cblr-1780	712	5	,	,	PUNCT
cblr-1780	712	6	george	george	PROPN
cblr-1780	712	7	loewenstein	loewenstein	PROPN
cblr-1780	712	8	&	&	CCONJ
cblr-1780	712	9	don	don	PROPN
cblr-1780	712	10	a.	a.	PROPN
cblr-1780	712	11	moore	moore	PROPN
cblr-1780	712	12	,	,	PUNCT
cblr-1780	712	13	the	the	DET
cblr-1780	712	14	dirt	dirt	NOUN
cblr-1780	712	15	on	on	ADP
cblr-1780	712	16	coming	come	VERB
cblr-1780	712	17	clean	clean	ADJ
cblr-1780	712	18	:	:	PUNCT
cblr-1780	712	19	perverse	perverse	ADJ
cblr-1780	712	20	effects	effect	NOUN
cblr-1780	712	21	of	of	ADP
cblr-1780	712	22	disclosing	disclose	VERB
cblr-1780	712	23	conflicts	conflict	NOUN
cblr-1780	712	24	of	of	ADP
cblr-1780	712	25	interest	interest	NOUN
cblr-1780	712	26	,	,	PUNCT
cblr-1780	712	27	34	34	NUM
cblr-1780	712	28	j.	j.	PROPN
cblr-1780	712	29	legal	legal	ADJ
cblr-1780	712	30	stud	stud	NOUN
cblr-1780	712	31	.	.	PUNCT
cblr-1780	713	1	1	1	NUM
cblr-1780	713	2	,	,	PUNCT
cblr-1780	713	3	5–6	5–6	NUM
cblr-1780	713	4	(	(	PUNCT
cblr-1780	713	5	2005	2005	NUM
cblr-1780	713	6	)	)	PUNCT
cblr-1780	713	7	(	(	PUNCT
cblr-1780	713	8	finding	find	VERB
cblr-1780	713	9	a	a	DET
cblr-1780	713	10	disinhibitory	disinhibitory	ADJ
cblr-1780	713	11	effect	effect	NOUN
cblr-1780	713	12	from	from	ADP
cblr-1780	713	13	conflict	conflict	NOUN
cblr-1780	713	14	of	of	ADP
cblr-1780	713	15	interest	interest	NOUN
cblr-1780	713	16	mandatory	mandatory	ADJ
cblr-1780	713	17	disclosure	disclosure	NOUN
cblr-1780	713	18	)	)	PUNCT
cblr-1780	713	19	;	;	PUNCT
cblr-1780	713	20	michael	michael	PROPN
cblr-1780	713	21	d.	d.	PROPN
cblr-1780	713	22	guttentag	guttentag	PROPN
cblr-1780	713	23	,	,	PUNCT
cblr-1780	713	24	christine	christine	PROPN
cblr-1780	713	25	l.	l.	PROPN
cblr-1780	713	26	porath	porath	PROPN
cblr-1780	713	27	&	&	CCONJ
cblr-1780	713	28	samuel	samuel	PROPN
cblr-1780	713	29	n.	n.	PROPN
cblr-1780	713	30	fraidin	fraidin	PROPN
cblr-1780	713	31	,	,	PUNCT
cblr-1780	713	32	brandeis	brandeis	PROPN
cblr-1780	713	33	’	'	PUNCT
cblr-1780	713	34	policeman	policeman	NOUN
cblr-1780	713	35	:	:	PUNCT
cblr-1780	713	36	results	result	NOUN
cblr-1780	713	37	from	from	ADP
cblr-1780	713	38	a	a	DET
cblr-1780	713	39	laboratory	laboratory	NOUN
cblr-1780	713	40	experiment	experiment	NOUN
cblr-1780	713	41	on	on	ADP
cblr-1780	713	42	how	how	SCONJ
cblr-1780	713	43	to	to	PART
cblr-1780	713	44	prevent	prevent	VERB
cblr-1780	713	45	corporate	corporate	ADJ
cblr-1780	713	46	fraud	fraud	NOUN
cblr-1780	713	47	,	,	PUNCT
cblr-1780	713	48	5	5	NUM
cblr-1780	713	49	j.	j.	PROPN
cblr-1780	713	50	empirical	empirical	ADJ
cblr-1780	713	51	legal	legal	ADJ
cblr-1780	713	52	stud	stud	NOUN
cblr-1780	713	53	.	.	PUNCT
cblr-1780	714	1	239	239	NUM
cblr-1780	714	2	,	,	PUNCT
cblr-1780	714	3	239	239	NUM
cblr-1780	714	4	(	(	PUNCT
cblr-1780	714	5	2008	2008	NUM
cblr-1780	714	6	)	)	PUNCT
cblr-1780	714	7	(	(	PUNCT
cblr-1780	714	8	finding	find	VERB
cblr-1780	714	9	requiring	require	VERB
cblr-1780	714	10	disclosure	disclosure	NOUN
cblr-1780	714	11	of	of	ADP
cblr-1780	714	12	even	even	ADV
cblr-1780	714	13	trivial	trivial	ADJ
cblr-1780	714	14	information	information	NOUN
cblr-1780	714	15	deterred	deter	VERB
cblr-1780	714	16	untoward	untoward	ADJ
cblr-1780	714	17	behavior	behavior	NOUN
cblr-1780	714	18	)	)	PUNCT
cblr-1780	714	19	.	.	PUNCT
cblr-1780	715	1	see	see	VERB
cblr-1780	715	2	also	also	ADV
cblr-1780	715	3	james	james	PROPN
cblr-1780	715	4	p.	p.	PROPN
cblr-1780	715	5	naughton	naughton	PROPN
cblr-1780	715	6	,	,	PUNCT
cblr-1780	715	7	mandatory	mandatory	ADJ
cblr-1780	715	8	disclosure	disclosure	NOUN
cblr-1780	715	9	and	and	CCONJ
cblr-1780	715	10	managerial	managerial	ADJ
cblr-1780	715	11	discretion	discretion	NOUN
cblr-1780	715	12	:	:	PUNCT
cblr-1780	715	13	evidence	evidence	NOUN
cblr-1780	715	14	from	from	ADP
cblr-1780	715	15	sfas132r	sfas132r	PROPN
cblr-1780	715	16	3	3	NUM
cblr-1780	715	17	(	(	PUNCT
cblr-1780	715	18	june	june	PROPN
cblr-1780	715	19	5	5	NUM
cblr-1780	715	20	,	,	PUNCT
cblr-1780	715	21	2014	2014	NUM
cblr-1780	715	22	)	)	PUNCT
cblr-1780	715	23	(	(	PUNCT
cblr-1780	715	24	unpublished	unpublished	ADJ
cblr-1780	715	25	manuscript	manuscript	NOUN
cblr-1780	715	26	)	)	PUNCT
cblr-1780	715	27	,	,	PUNCT
cblr-1780	715	28	http://perma.cc/ej7d-tvwp	http://perma.cc/ej7d-tvwp	PROPN
cblr-1780	715	29	(	(	PUNCT
cblr-1780	715	30	finding	find	VERB
cblr-1780	715	31	that	that	PRON
cblr-1780	715	32	increased	increase	VERB
cblr-1780	715	33	mandatory	mandatory	ADJ
cblr-1780	715	34	disclosure	disclosure	NOUN
cblr-1780	715	35	reduced	reduce	VERB
cblr-1780	715	36	managerial	managerial	ADJ
cblr-1780	715	37	discretion	discretion	NOUN
cblr-1780	715	38	in	in	ADP
cblr-1780	715	39	recognizing	recognize	VERB
cblr-1780	715	40	the	the	DET
cblr-1780	715	41	costs	cost	NOUN
cblr-1780	715	42	of	of	ADP
cblr-1780	715	43	pension	pension	NOUN
cblr-1780	715	44	plans	plan	NOUN
cblr-1780	715	45	)	)	PUNCT
cblr-1780	715	46	.	.	PUNCT
cblr-1780	716	1	guttentag	guttentag	NOUN
cblr-1780	716	2	–	–	PUNCT
cblr-1780	716	3	final	final	ADJ
cblr-1780	716	4	644	644	NUM
cblr-1780	716	5	columbia	columbia	PROPN
cblr-1780	716	6	business	business	NOUN
cblr-1780	716	7	law	law	PROPN
cblr-1780	716	8	review	review	NOUN
cblr-1780	716	9	[	[	X
cblr-1780	716	10	vol	vol	NOUN
cblr-1780	716	11	.	.	NOUN
cblr-1780	716	12	2014	2014	NUM
cblr-1780	716	13	mechanisms	mechanism	NOUN
cblr-1780	716	14	of	of	ADP
cblr-1780	716	15	corporate	corporate	ADJ
cblr-1780	716	16	governance	governance	NOUN
cblr-1780	716	17	.	.	PUNCT
cblr-1780	717	1	disclosure	disclosure	NOUN
cblr-1780	717	2	requirements	requirement	NOUN
cblr-1780	717	3	can	can	AUX
cblr-1780	717	4	insure	insure	VERB
cblr-1780	717	5	that	that	SCONJ
cblr-1780	717	6	the	the	DET
cblr-1780	717	7	information	information	NOUN
cblr-1780	717	8	necessary	necessary	ADJ
cblr-1780	717	9	to	to	PART
cblr-1780	717	10	effectively	effectively	ADV
cblr-1780	717	11	use	use	VERB
cblr-1780	717	12	the	the	DET
cblr-1780	717	13	levers	lever	NOUN
cblr-1780	717	14	of	of	ADP
cblr-1780	717	15	control	control	NOUN
cblr-1780	717	16	is	be	AUX
cblr-1780	717	17	available	available	ADJ
cblr-1780	717	18	to	to	ADP
cblr-1780	717	19	shareholders	shareholder	NOUN
cblr-1780	717	20	.	.	PUNCT
cblr-1780	718	1	as	as	SCONJ
cblr-1780	718	2	gerard	gerard	PROPN
cblr-1780	718	3	hertig	hertig	PROPN
cblr-1780	718	4	,	,	PUNCT
cblr-1780	718	5	reinier	reinier	ADJ
cblr-1780	718	6	kraakman	kraakman	NOUN
cblr-1780	718	7	,	,	PUNCT
cblr-1780	718	8	and	and	CCONJ
cblr-1780	718	9	edward	edward	PROPN
cblr-1780	718	10	rock	rock	PROPN
cblr-1780	718	11	observe	observe	PROPN
cblr-1780	718	12	,	,	PUNCT
cblr-1780	718	13	“	"	PUNCT
cblr-1780	718	14	informed	inform	VERB
cblr-1780	718	15	shareholders	shareholder	NOUN
cblr-1780	718	16	can	can	AUX
cblr-1780	718	17	better	well	ADV
cblr-1780	718	18	exercise	exercise	VERB
cblr-1780	718	19	their	their	PRON
cblr-1780	718	20	decision	decision	NOUN
cblr-1780	718	21	and	and	CCONJ
cblr-1780	718	22	appointment	appointment	NOUN
cblr-1780	718	23	rights	right	NOUN
cblr-1780	718	24	.	.	PUNCT
cblr-1780	719	1	”164	”164	NOUN
cblr-1780	719	2	a	a	DET
cblr-1780	719	3	third	third	ADJ
cblr-1780	719	4	way	way	NOUN
cblr-1780	719	5	in	in	ADP
cblr-1780	719	6	which	which	PRON
cblr-1780	719	7	disclosure	disclosure	NOUN
cblr-1780	719	8	policies	policy	NOUN
cblr-1780	719	9	can	can	AUX
cblr-1780	719	10	affect	affect	VERB
cblr-1780	719	11	the	the	DET
cblr-1780	719	12	level	level	NOUN
cblr-1780	719	13	of	of	ADP
cblr-1780	719	14	tunneling	tunneling	NOUN
cblr-1780	719	15	by	by	ADP
cblr-1780	719	16	firm	firm	ADJ
cblr-1780	719	17	insiders	insider	NOUN
cblr-1780	719	18	is	be	AUX
cblr-1780	719	19	through	through	ADP
cblr-1780	719	20	their	their	PRON
cblr-1780	719	21	effects	effect	NOUN
cblr-1780	719	22	on	on	ADP
cblr-1780	719	23	the	the	DET
cblr-1780	719	24	accuracy	accuracy	NOUN
cblr-1780	719	25	of	of	ADP
cblr-1780	719	26	the	the	DET
cblr-1780	719	27	firm	firm	NOUN
cblr-1780	719	28	’s	’s	PART
cblr-1780	719	29	share	share	NOUN
cblr-1780	719	30	price	price	NOUN
cblr-1780	719	31	.	.	PUNCT
cblr-1780	720	1	by	by	ADP
cblr-1780	720	2	enhancing	enhance	VERB
cblr-1780	720	3	share	share	NOUN
cblr-1780	720	4	price	price	NOUN
cblr-1780	720	5	accuracy	accuracy	NOUN
cblr-1780	720	6	,	,	PUNCT
cblr-1780	720	7	disclosures	disclosure	NOUN
cblr-1780	720	8	can	can	AUX
cblr-1780	720	9	limit	limit	VERB
cblr-1780	720	10	opportunities	opportunity	NOUN
cblr-1780	720	11	for	for	SCONJ
cblr-1780	720	12	firm	firm	ADJ
cblr-1780	720	13	insiders	insider	NOUN
cblr-1780	720	14	to	to	PART
cblr-1780	720	15	profit	profit	VERB
cblr-1780	720	16	from	from	ADP
cblr-1780	720	17	exclusive	exclusive	ADJ
cblr-1780	720	18	access	access	NOUN
cblr-1780	720	19	to	to	ADP
cblr-1780	720	20	firm	firm	ADJ
cblr-1780	720	21	information.165	information.165	NOUN
cblr-1780	720	22	correctly	correctly	ADV
cblr-1780	720	23	identifying	identify	VERB
cblr-1780	720	24	and	and	CCONJ
cblr-1780	720	25	understanding	understand	VERB
cblr-1780	720	26	the	the	DET
cblr-1780	720	27	ways	way	NOUN
cblr-1780	720	28	in	in	ADP
cblr-1780	720	29	which	which	PRON
cblr-1780	720	30	disclosure	disclosure	NOUN
cblr-1780	720	31	rules	rule	NOUN
cblr-1780	720	32	reduce	reduce	VERB
cblr-1780	720	33	tunneling	tunneling	NOUN
cblr-1780	720	34	is	be	AUX
cblr-1780	720	35	crucial	crucial	ADJ
cblr-1780	720	36	when	when	SCONJ
cblr-1780	720	37	evaluating	evaluate	VERB
cblr-1780	720	38	the	the	DET
cblr-1780	720	39	likelihood	likelihood	NOUN
cblr-1780	720	40	a	a	DET
cblr-1780	720	41	topic	topic	NOUN
cblr-1780	720	42	-	-	PUNCT
cblr-1780	720	43	specific	specific	ADJ
cblr-1780	720	44	disclosure	disclosure	NOUN
cblr-1780	720	45	requirement	requirement	NOUN
cblr-1780	720	46	will	will	AUX
cblr-1780	720	47	reduce	reduce	VERB
cblr-1780	720	48	tunneling	tunneling	NOUN
cblr-1780	720	49	in	in	ADP
cblr-1780	720	50	a	a	DET
cblr-1780	720	51	cost	cost	NOUN
cblr-1780	720	52	-	-	PUNCT
cblr-1780	720	53	effective	effective	ADJ
cblr-1780	720	54	manner	manner	NOUN
cblr-1780	720	55	.	.	PUNCT
cblr-1780	721	1	for	for	ADP
cblr-1780	721	2	example	example	NOUN
cblr-1780	721	3	,	,	PUNCT
cblr-1780	721	4	if	if	SCONJ
cblr-1780	721	5	disclosure	disclosure	NOUN
cblr-1780	721	6	rules	rule	NOUN
cblr-1780	721	7	reduce	reduce	VERB
cblr-1780	721	8	tunneling	tunneling	NOUN
cblr-1780	721	9	because	because	SCONJ
cblr-1780	721	10	of	of	ADP
cblr-1780	721	11	their	their	PRON
cblr-1780	721	12	deterrent	deterrent	NOUN
cblr-1780	721	13	effect	effect	NOUN
cblr-1780	721	14	,	,	PUNCT
cblr-1780	721	15	then	then	ADV
cblr-1780	721	16	disclosure	disclosure	NOUN
cblr-1780	721	17	rules	rule	NOUN
cblr-1780	721	18	are	be	AUX
cblr-1780	721	19	more	more	ADV
cblr-1780	721	20	likely	likely	ADJ
cblr-1780	721	21	to	to	PART
cblr-1780	721	22	reduce	reduce	VERB
cblr-1780	721	23	tunneling	tunneling	NOUN
cblr-1780	721	24	when	when	SCONJ
cblr-1780	721	25	the	the	DET
cblr-1780	721	26	information	information	NOUN
cblr-1780	721	27	subject	subject	ADJ
cblr-1780	721	28	to	to	ADP
cblr-1780	721	29	the	the	DET
cblr-1780	721	30	disclosure	disclosure	NOUN
cblr-1780	721	31	obligation	obligation	NOUN
cblr-1780	721	32	would	would	AUX
cblr-1780	721	33	be	be	AUX
cblr-1780	721	34	embarrassing	embarrassing	ADJ
cblr-1780	721	35	if	if	SCONJ
cblr-1780	721	36	revealed	reveal	VERB
cblr-1780	721	37	.	.	PUNCT
cblr-1780	722	1	alternatively	alternatively	ADV
cblr-1780	722	2	,	,	PUNCT
cblr-1780	722	3	if	if	SCONJ
cblr-1780	722	4	disclosure	disclosure	NOUN
cblr-1780	722	5	rules	rule	NOUN
cblr-1780	722	6	reduce	reduce	VERB
cblr-1780	722	7	tunneling	tunneling	NOUN
cblr-1780	722	8	because	because	SCONJ
cblr-1780	722	9	of	of	ADP
cblr-1780	722	10	their	their	PRON
cblr-1780	722	11	link	link	NOUN
cblr-1780	722	12	to	to	ADP
cblr-1780	722	13	corporate	corporate	ADJ
cblr-1780	722	14	governance	governance	NOUN
cblr-1780	722	15	,	,	PUNCT
cblr-1780	722	16	then	then	ADV
cblr-1780	722	17	the	the	DET
cblr-1780	722	18	most	most	ADV
cblr-1780	722	19	important	important	ADJ
cblr-1780	722	20	information	information	NOUN
cblr-1780	722	21	to	to	PART
cblr-1780	722	22	require	require	VERB
cblr-1780	722	23	disclosure	disclosure	NOUN
cblr-1780	722	24	of	of	ADP
cblr-1780	722	25	is	be	AUX
cblr-1780	722	26	information	information	NOUN
cblr-1780	722	27	that	that	PRON
cblr-1780	722	28	can	can	AUX
cblr-1780	722	29	empower	empower	VERB
cblr-1780	722	30	shareholders	shareholder	NOUN
cblr-1780	722	31	.	.	PUNCT
cblr-1780	723	1	finally	finally	ADV
cblr-1780	723	2	,	,	PUNCT
cblr-1780	723	3	if	if	SCONJ
cblr-1780	723	4	disclosure	disclosure	NOUN
cblr-1780	723	5	rules	rule	NOUN
cblr-1780	723	6	reduce	reduce	VERB
cblr-1780	723	7	tunneling	tunnel	VERB
cblr-1780	723	8	through	through	ADP
cblr-1780	723	9	more	more	ADV
cblr-1780	723	10	accurate	accurate	ADJ
cblr-1780	723	11	share	share	NOUN
cblr-1780	723	12	pricing	pricing	NOUN
cblr-1780	723	13	,	,	PUNCT
cblr-1780	723	14	then	then	ADV
cblr-1780	723	15	the	the	DET
cblr-1780	723	16	information	information	NOUN
cblr-1780	723	17	most	most	ADV
cblr-1780	723	18	likely	likely	ADJ
cblr-1780	723	19	to	to	PART
cblr-1780	723	20	be	be	AUX
cblr-1780	723	21	effective	effective	ADJ
cblr-1780	723	22	in	in	ADP
cblr-1780	723	23	reducing	reduce	VERB
cblr-1780	723	24	tunneling	tunneling	NOUN
cblr-1780	723	25	will	will	AUX
cblr-1780	723	26	be	be	AUX
cblr-1780	723	27	those	those	DET
cblr-1780	723	28	disclosures	disclosure	NOUN
cblr-1780	723	29	that	that	PRON
cblr-1780	723	30	enhance	enhance	VERB
cblr-1780	723	31	share	share	NOUN
cblr-1780	723	32	price	price	NOUN
cblr-1780	723	33	accuracy	accuracy	NOUN
cblr-1780	723	34	.	.	PUNCT
cblr-1780	724	1	there	there	PRON
cblr-1780	724	2	is	be	VERB
cblr-1780	724	3	little	little	ADJ
cblr-1780	724	4	evidence	evidence	NOUN
cblr-1780	724	5	that	that	SCONJ
cblr-1780	724	6	any	any	DET
cblr-1780	724	7	one	one	NUM
cblr-1780	724	8	of	of	ADP
cblr-1780	724	9	these	these	DET
cblr-1780	724	10	pathways	pathway	NOUN
cblr-1780	724	11	is	be	AUX
cblr-1780	724	12	clearly	clearly	ADV
cblr-1780	724	13	dominant	dominant	ADJ
cblr-1780	724	14	.	.	PUNCT
cblr-1780	725	1	insight	insight	NOUN
cblr-1780	725	2	into	into	ADP
cblr-1780	725	3	whether	whether	SCONJ
cblr-1780	725	4	a	a	DET
cblr-1780	725	5	topic	topic	NOUN
cblr-1780	725	6	-	-	PUNCT
cblr-1780	725	7	specific	specific	ADJ
cblr-1780	725	8	164	164	NUM
cblr-1780	725	9	gerard	gerard	PROPN
cblr-1780	725	10	hertig	hertig	PROPN
cblr-1780	725	11	et	et	PROPN
cblr-1780	725	12	al	al	PROPN
cblr-1780	725	13	.	.	PROPN
cblr-1780	725	14	,	,	PUNCT
cblr-1780	725	15	issuers	issuer	NOUN
cblr-1780	725	16	and	and	CCONJ
cblr-1780	725	17	investor	investor	NOUN
cblr-1780	725	18	protection	protection	NOUN
cblr-1780	725	19	,	,	PUNCT
cblr-1780	725	20	in	in	ADP
cblr-1780	725	21	the	the	DET
cblr-1780	725	22	anatomy	anatomy	NOUN
cblr-1780	725	23	of	of	ADP
cblr-1780	725	24	corporate	corporate	ADJ
cblr-1780	725	25	law	law	NOUN
cblr-1780	725	26	:	:	PUNCT
cblr-1780	725	27	a	a	DET
cblr-1780	725	28	comparative	comparative	ADJ
cblr-1780	725	29	and	and	CCONJ
cblr-1780	725	30	functional	functional	ADJ
cblr-1780	725	31	approach	approach	NOUN
cblr-1780	725	32	280	280	NUM
cblr-1780	725	33	(	(	PUNCT
cblr-1780	725	34	reinier	reinier	X
cblr-1780	725	35	kraakman	kraakman	NOUN
cblr-1780	725	36	et	et	PROPN
cblr-1780	725	37	al	al	PROPN
cblr-1780	725	38	.	.	PUNCT
cblr-1780	726	1	eds	eds	PROPN
cblr-1780	726	2	.	.	PROPN
cblr-1780	726	3	,	,	PUNCT
cblr-1780	726	4	2nd	2nd	ADJ
cblr-1780	726	5	ed	ed	NOUN
cblr-1780	726	6	.	.	PUNCT
cblr-1780	726	7	2009	2009	NUM
cblr-1780	726	8	)	)	PUNCT
cblr-1780	726	9	.	.	PUNCT
cblr-1780	727	1	the	the	DET
cblr-1780	727	2	link	link	NOUN
cblr-1780	727	3	between	between	ADP
cblr-1780	727	4	disclosure	disclosure	NOUN
cblr-1780	727	5	and	and	CCONJ
cblr-1780	727	6	corporate	corporate	ADJ
cblr-1780	727	7	governance	governance	NOUN
cblr-1780	727	8	appears	appear	VERB
cblr-1780	727	9	to	to	PART
cblr-1780	727	10	have	have	AUX
cblr-1780	727	11	been	be	AUX
cblr-1780	727	12	of	of	ADP
cblr-1780	727	13	central	central	ADJ
cblr-1780	727	14	importance	importance	NOUN
cblr-1780	727	15	to	to	PART
cblr-1780	727	16	bebchuk	bebchuk	NOUN
cblr-1780	727	17	and	and	CCONJ
cblr-1780	727	18	jackson	jackson	PROPN
cblr-1780	727	19	when	when	SCONJ
cblr-1780	727	20	they	they	PRON
cblr-1780	727	21	first	first	ADV
cblr-1780	727	22	offered	offer	VERB
cblr-1780	727	23	arguments	argument	NOUN
cblr-1780	727	24	for	for	ADP
cblr-1780	727	25	mandatory	mandatory	ADJ
cblr-1780	727	26	disclosure	disclosure	NOUN
cblr-1780	727	27	of	of	ADP
cblr-1780	727	28	political	political	ADJ
cblr-1780	727	29	spending	spending	NOUN
cblr-1780	727	30	information	information	NOUN
cblr-1780	727	31	.	.	PUNCT
cblr-1780	728	1	bebchuk	bebchuk	PROPN
cblr-1780	728	2	&	&	CCONJ
cblr-1780	728	3	jackson	jackson	PROPN
cblr-1780	728	4	,	,	PUNCT
cblr-1780	728	5	who	who	PRON
cblr-1780	728	6	decides	decide	VERB
cblr-1780	728	7	,	,	PUNCT
cblr-1780	728	8	supra	supra	PROPN
cblr-1780	728	9	note	note	NOUN
cblr-1780	728	10	23	23	NUM
cblr-1780	728	11	.	.	PUNCT
cblr-1780	729	1	165	165	NUM
cblr-1780	729	2	see	see	VERB
cblr-1780	729	3	,	,	PUNCT
cblr-1780	729	4	e.g.	e.g.	ADV
cblr-1780	729	5	,	,	PUNCT
cblr-1780	729	6	david	david	PROPN
cblr-1780	729	7	aboody	aboody	PROPN
cblr-1780	729	8	&	&	CCONJ
cblr-1780	729	9	baruch	baruch	ADJ
cblr-1780	729	10	lev	lev	NOUN
cblr-1780	729	11	,	,	PUNCT
cblr-1780	729	12	information	information	NOUN
cblr-1780	729	13	asymmetry	asymmetry	NOUN
cblr-1780	729	14	,	,	PUNCT
cblr-1780	729	15	r&d	r&d	NOUN
cblr-1780	729	16	,	,	PUNCT
cblr-1780	729	17	and	and	CCONJ
cblr-1780	729	18	insider	insider	NOUN
cblr-1780	729	19	gains	gain	NOUN
cblr-1780	729	20	,	,	PUNCT
cblr-1780	729	21	55	55	NUM
cblr-1780	729	22	j.	j.	PROPN
cblr-1780	729	23	fin	fin	PROPN
cblr-1780	729	24	.	.	PUNCT
cblr-1780	730	1	2747	2747	NUM
cblr-1780	730	2	,	,	PUNCT
cblr-1780	730	3	2748–49	2748–49	NUM
cblr-1780	730	4	(	(	PUNCT
cblr-1780	730	5	2000	2000	NUM
cblr-1780	730	6	)	)	PUNCT
cblr-1780	730	7	;	;	PUNCT
cblr-1780	730	8	hollis	hollis	PROPN
cblr-1780	730	9	a.	a.	NOUN
cblr-1780	730	10	skaife	skaife	PROPN
cblr-1780	730	11	,	,	PUNCT
cblr-1780	730	12	david	david	PROPN
cblr-1780	730	13	veenman	veenman	PROPN
cblr-1780	730	14	&	&	CCONJ
cblr-1780	730	15	daniel	daniel	PROPN
cblr-1780	730	16	wangerin	wangerin	PROPN
cblr-1780	730	17	,	,	PUNCT
cblr-1780	730	18	internal	internal	ADJ
cblr-1780	730	19	control	control	NOUN
cblr-1780	730	20	over	over	ADP
cblr-1780	730	21	financial	financial	ADJ
cblr-1780	730	22	reporting	reporting	NOUN
cblr-1780	730	23	and	and	CCONJ
cblr-1780	730	24	managerial	managerial	ADJ
cblr-1780	730	25	rent	rent	NOUN
cblr-1780	730	26	extraction	extraction	NOUN
cblr-1780	730	27	:	:	PUNCT
cblr-1780	730	28	evidence	evidence	NOUN
cblr-1780	730	29	from	from	ADP
cblr-1780	730	30	the	the	DET
cblr-1780	730	31	profitability	profitability	NOUN
cblr-1780	730	32	of	of	ADP
cblr-1780	730	33	insider	insider	NOUN
cblr-1780	730	34	trading	trading	NOUN
cblr-1780	730	35	,	,	PUNCT
cblr-1780	730	36	55	55	NUM
cblr-1780	730	37	j.	j.	PROPN
cblr-1780	730	38	acct	acct	PROPN
cblr-1780	730	39	.	.	PROPN
cblr-1780	730	40	&	&	CCONJ
cblr-1780	730	41	econ	econ	PROPN
cblr-1780	730	42	.	.	PUNCT
cblr-1780	731	1	91	91	NUM
cblr-1780	731	2	,	,	PUNCT
cblr-1780	731	3	91–92	91–92	NUM
cblr-1780	731	4	(	(	PUNCT
cblr-1780	731	5	2013	2013	NUM
cblr-1780	731	6	)	)	PUNCT
cblr-1780	731	7	.	.	PUNCT
cblr-1780	732	1	guttentag	guttentag	NOUN
cblr-1780	732	2	–	–	PUNCT
cblr-1780	732	3	final	final	ADJ
cblr-1780	732	4	no	no	NOUN
cblr-1780	732	5	.	.	PUNCT
cblr-1780	733	1	3:593	3:593	NUM
cblr-1780	733	2	]	]	PUNCT
cblr-1780	733	3	on	on	ADP
cblr-1780	733	4	political	political	ADJ
cblr-1780	733	5	spending	spending	NOUN
cblr-1780	733	6	disclosure	disclosure	NOUN
cblr-1780	733	7	645	645	NUM
cblr-1780	733	8	disclosure	disclosure	NOUN
cblr-1780	733	9	requirement	requirement	NOUN
cblr-1780	733	10	is	be	AUX
cblr-1780	733	11	likely	likely	ADJ
cblr-1780	733	12	to	to	PART
cblr-1780	733	13	provide	provide	VERB
cblr-1780	733	14	a	a	DET
cblr-1780	733	15	cost	cost	NOUN
cblr-1780	733	16	-	-	PUNCT
cblr-1780	733	17	effective	effective	ADJ
cblr-1780	733	18	way	way	NOUN
cblr-1780	733	19	to	to	PART
cblr-1780	733	20	reduce	reduce	VERB
cblr-1780	733	21	tunneling	tunneling	NOUN
cblr-1780	733	22	needs	need	NOUN
cblr-1780	733	23	to	to	PART
cblr-1780	733	24	be	be	AUX
cblr-1780	733	25	sought	seek	VERB
cblr-1780	733	26	on	on	ADP
cblr-1780	733	27	a	a	DET
cblr-1780	733	28	case	case	NOUN
cblr-1780	733	29	-	-	PUNCT
cblr-1780	733	30	by	by	ADP
cblr-1780	733	31	-	-	PUNCT
cblr-1780	733	32	case	case	NOUN
cblr-1780	733	33	basis	basis	NOUN
cblr-1780	733	34	.	.	PUNCT
cblr-1780	734	1	the	the	DET
cblr-1780	734	2	debate	debate	NOUN
cblr-1780	734	3	on	on	ADP
cblr-1780	734	4	the	the	DET
cblr-1780	734	5	mandatory	mandatory	ADJ
cblr-1780	734	6	disclosure	disclosure	NOUN
cblr-1780	734	7	of	of	ADP
cblr-1780	734	8	political	political	ADJ
cblr-1780	734	9	spending	spending	NOUN
cblr-1780	734	10	has	have	AUX
cblr-1780	734	11	focused	focus	VERB
cblr-1780	734	12	primarily	primarily	ADV
cblr-1780	734	13	on	on	ADP
cblr-1780	734	14	questions	question	NOUN
cblr-1780	734	15	such	such	ADJ
cblr-1780	734	16	as	as	ADP
cblr-1780	734	17	the	the	DET
cblr-1780	734	18	extent	extent	NOUN
cblr-1780	734	19	of	of	ADP
cblr-1780	734	20	investor	investor	NOUN
cblr-1780	734	21	interest	interest	NOUN
cblr-1780	734	22	in	in	ADP
cblr-1780	734	23	the	the	DET
cblr-1780	734	24	topic	topic	NOUN
cblr-1780	734	25	under	under	ADP
cblr-1780	734	26	consideration	consideration	NOUN
cblr-1780	734	27	or	or	CCONJ
cblr-1780	734	28	how	how	SCONJ
cblr-1780	734	29	similar	similar	ADJ
cblr-1780	734	30	the	the	DET
cblr-1780	734	31	information	information	NOUN
cblr-1780	734	32	is	be	AUX
cblr-1780	734	33	to	to	SCONJ
cblr-1780	734	34	information	information	NOUN
cblr-1780	734	35	firms	firm	NOUN
cblr-1780	734	36	are	be	AUX
cblr-1780	734	37	already	already	ADV
cblr-1780	734	38	required	require	VERB
cblr-1780	734	39	to	to	PART
cblr-1780	734	40	disclose.166	disclose.166	VERB
cblr-1780	734	41	these	these	PRON
cblr-1780	734	42	are	be	AUX
cblr-1780	734	43	not	not	PART
cblr-1780	734	44	the	the	DET
cblr-1780	734	45	best	good	ADJ
cblr-1780	734	46	questions	question	NOUN
cblr-1780	734	47	to	to	PART
cblr-1780	734	48	ask	ask	VERB
cblr-1780	734	49	when	when	SCONJ
cblr-1780	734	50	evaluating	evaluate	VERB
cblr-1780	734	51	whether	whether	SCONJ
cblr-1780	734	52	to	to	PART
cblr-1780	734	53	require	require	VERB
cblr-1780	734	54	disclosure	disclosure	NOUN
cblr-1780	734	55	of	of	ADP
cblr-1780	734	56	information	information	NOUN
cblr-1780	734	57	regarding	regard	VERB
cblr-1780	734	58	a	a	DET
cblr-1780	734	59	specific	specific	ADJ
cblr-1780	734	60	topic	topic	NOUN
cblr-1780	734	61	.	.	PUNCT
cblr-1780	735	1	rather	rather	ADV
cblr-1780	735	2	,	,	PUNCT
cblr-1780	735	3	the	the	DET
cblr-1780	735	4	evaluation	evaluation	NOUN
cblr-1780	735	5	of	of	ADP
cblr-1780	735	6	any	any	DET
cblr-1780	735	7	proposed	propose	VERB
cblr-1780	735	8	topic	topic	NOUN
cblr-1780	735	9	-	-	PUNCT
cblr-1780	735	10	specific	specific	ADJ
cblr-1780	735	11	disclosure	disclosure	NOUN
cblr-1780	735	12	rule	rule	NOUN
cblr-1780	735	13	is	be	AUX
cblr-1780	735	14	best	well	ADV
cblr-1780	735	15	considered	consider	VERB
cblr-1780	735	16	in	in	ADP
cblr-1780	735	17	light	light	NOUN
cblr-1780	735	18	of	of	ADP
cblr-1780	735	19	the	the	DET
cblr-1780	735	20	two	two	NUM
cblr-1780	735	21	market	market	NOUN
cblr-1780	735	22	failures	failure	NOUN
cblr-1780	735	23	that	that	SCONJ
cblr-1780	735	24	mandatory	mandatory	ADJ
cblr-1780	735	25	disclosure	disclosure	NOUN
cblr-1780	735	26	requirements	requirement	NOUN
cblr-1780	735	27	imposed	impose	VERB
cblr-1780	735	28	on	on	ADP
cblr-1780	735	29	public	public	ADJ
cblr-1780	735	30	companies	company	NOUN
cblr-1780	735	31	have	have	AUX
cblr-1780	735	32	effectively	effectively	ADV
cblr-1780	735	33	addressed	address	VERB
cblr-1780	735	34	in	in	ADP
cblr-1780	735	35	the	the	DET
cblr-1780	735	36	past	past	NOUN
cblr-1780	735	37	:	:	PUNCT
cblr-1780	735	38	(	(	PUNCT
cblr-1780	735	39	1	1	X
cblr-1780	735	40	)	)	PUNCT
cblr-1780	735	41	positive	positive	ADJ
cblr-1780	735	42	externalities	externality	NOUN
cblr-1780	735	43	,	,	PUNCT
cblr-1780	735	44	and	and	CCONJ
cblr-1780	735	45	(	(	PUNCT
cblr-1780	735	46	2	2	X
cblr-1780	735	47	)	)	PUNCT
cblr-1780	735	48	excessive	excessive	ADJ
cblr-1780	735	49	tunneling	tunneling	NOUN
cblr-1780	735	50	.	.	PUNCT
cblr-1780	736	1	each	each	PRON
cblr-1780	736	2	of	of	ADP
cblr-1780	736	3	these	these	DET
cblr-1780	736	4	market	market	NOUN
cblr-1780	736	5	failures	failure	NOUN
cblr-1780	736	6	illuminates	illuminate	VERB
cblr-1780	736	7	a	a	DET
cblr-1780	736	8	new	new	ADJ
cblr-1780	736	9	way	way	NOUN
cblr-1780	736	10	to	to	PART
cblr-1780	736	11	determine	determine	VERB
cblr-1780	736	12	what	what	PRON
cblr-1780	736	13	information	information	NOUN
cblr-1780	736	14	firms	firm	NOUN
cblr-1780	736	15	should	should	AUX
cblr-1780	736	16	be	be	AUX
cblr-1780	736	17	required	require	VERB
cblr-1780	736	18	to	to	PART
cblr-1780	736	19	disclose	disclose	VERB
cblr-1780	736	20	.	.	PUNCT
cblr-1780	737	1	in	in	ADP
cblr-1780	737	2	implementing	implement	VERB
cblr-1780	737	3	disclosure	disclosure	NOUN
cblr-1780	737	4	requirements	requirement	NOUN
cblr-1780	737	5	as	as	ADP
cblr-1780	737	6	a	a	DET
cblr-1780	737	7	corrective	corrective	ADJ
cblr-1780	737	8	for	for	ADP
cblr-1780	737	9	positive	positive	ADJ
cblr-1780	737	10	externalities	externality	NOUN
cblr-1780	737	11	,	,	PUNCT
cblr-1780	737	12	we	we	PRON
cblr-1780	737	13	can	can	AUX
cblr-1780	737	14	look	look	VERB
cblr-1780	737	15	to	to	ADP
cblr-1780	737	16	whether	whether	SCONJ
cblr-1780	737	17	the	the	DET
cblr-1780	737	18	information	information	NOUN
cblr-1780	737	19	involved	involve	VERB
cblr-1780	737	20	is	be	AUX
cblr-1780	737	21	both	both	PRON
cblr-1780	737	22	competitively	competitively	ADV
cblr-1780	737	23	disadvantaging	disadvantage	VERB
cblr-1780	737	24	and	and	CCONJ
cblr-1780	737	25	at	at	ADP
cblr-1780	737	26	the	the	DET
cblr-1780	737	27	same	same	ADJ
cblr-1780	737	28	time	time	NOUN
cblr-1780	737	29	,	,	PUNCT
cblr-1780	737	30	if	if	SCONJ
cblr-1780	737	31	disclosed	disclose	VERB
cblr-1780	737	32	,	,	PUNCT
cblr-1780	737	33	would	would	AUX
cblr-1780	737	34	increase	increase	VERB
cblr-1780	737	35	social	social	ADJ
cblr-1780	737	36	welfare	welfare	NOUN
cblr-1780	737	37	.	.	PUNCT
cblr-1780	738	1	to	to	PART
cblr-1780	738	2	provide	provide	VERB
cblr-1780	738	3	a	a	DET
cblr-1780	738	4	corrective	corrective	ADJ
cblr-1780	738	5	for	for	ADP
cblr-1780	738	6	insider	insider	NOUN
cblr-1780	738	7	capture	capture	NOUN
cblr-1780	738	8	of	of	ADP
cblr-1780	738	9	the	the	DET
cblr-1780	738	10	firm	firm	NOUN
cblr-1780	738	11	’s	’s	PART
cblr-1780	738	12	disclosure	disclosure	NOUN
cblr-1780	738	13	policies	policy	NOUN
cblr-1780	738	14	,	,	PUNCT
cblr-1780	738	15	the	the	DET
cblr-1780	738	16	types	type	NOUN
cblr-1780	738	17	of	of	ADP
cblr-1780	738	18	disclosure	disclosure	NOUN
cblr-1780	738	19	rules	rule	NOUN
cblr-1780	738	20	that	that	PRON
cblr-1780	738	21	would	would	AUX
cblr-1780	738	22	be	be	AUX
cblr-1780	738	23	most	most	ADV
cblr-1780	738	24	effective	effective	ADJ
cblr-1780	738	25	are	be	AUX
cblr-1780	738	26	those	those	PRON
cblr-1780	738	27	that	that	PRON
cblr-1780	738	28	can	can	AUX
cblr-1780	738	29	cost	cost	VERB
cblr-1780	738	30	-	-	PUNCT
cblr-1780	738	31	effectively	effectively	ADV
cblr-1780	738	32	:	:	PUNCT
cblr-1780	738	33	(	(	PUNCT
cblr-1780	738	34	1	1	X
cblr-1780	738	35	)	)	PUNCT
cblr-1780	738	36	deter	deter	VERB
cblr-1780	738	37	untoward	untoward	ADJ
cblr-1780	738	38	behavior	behavior	NOUN
cblr-1780	738	39	,	,	PUNCT
cblr-1780	738	40	(	(	PUNCT
cblr-1780	738	41	2	2	X
cblr-1780	738	42	)	)	PUNCT
cblr-1780	738	43	empower	empower	NOUN
cblr-1780	738	44	shareholders	shareholder	NOUN
cblr-1780	738	45	,	,	PUNCT
cblr-1780	738	46	or	or	CCONJ
cblr-1780	738	47	(	(	PUNCT
cblr-1780	738	48	3	3	X
cblr-1780	738	49	)	)	PUNCT
cblr-1780	738	50	prevent	prevent	NOUN
cblr-1780	738	51	firm	firm	ADJ
cblr-1780	738	52	insiders	insider	NOUN
cblr-1780	738	53	from	from	ADP
cblr-1780	738	54	maintaining	maintain	VERB
cblr-1780	738	55	an	an	DET
cblr-1780	738	56	informational	informational	ADJ
cblr-1780	738	57	advantage	advantage	NOUN
cblr-1780	738	58	over	over	ADP
cblr-1780	738	59	those	those	PRON
cblr-1780	738	60	outside	outside	ADP
cblr-1780	738	61	the	the	DET
cblr-1780	738	62	firm	firm	NOUN
cblr-1780	738	63	.	.	PUNCT
cblr-1780	739	1	i	i	PRON
cblr-1780	739	2	consider	consider	VERB
cblr-1780	739	3	next	next	ADV
cblr-1780	739	4	whether	whether	SCONJ
cblr-1780	739	5	the	the	DET
cblr-1780	739	6	evidence	evidence	NOUN
cblr-1780	739	7	suggests	suggest	VERB
cblr-1780	739	8	that	that	SCONJ
cblr-1780	739	9	the	the	DET
cblr-1780	739	10	mandatory	mandatory	ADJ
cblr-1780	739	11	disclosure	disclosure	NOUN
cblr-1780	739	12	of	of	ADP
cblr-1780	739	13	political	political	ADJ
cblr-1780	739	14	spending	spending	NOUN
cblr-1780	739	15	meets	meet	VERB
cblr-1780	739	16	any	any	PRON
cblr-1780	739	17	of	of	ADP
cblr-1780	739	18	the	the	DET
cblr-1780	739	19	criteria	criterion	NOUN
cblr-1780	739	20	linked	link	VERB
cblr-1780	739	21	to	to	ADP
cblr-1780	739	22	disclosure	disclosure	NOUN
cblr-1780	739	23	market	market	NOUN
cblr-1780	739	24	failures	failure	NOUN
cblr-1780	739	25	.	.	PUNCT
cblr-1780	740	1	iv	iv	X
cblr-1780	740	2	.	.	PUNCT
cblr-1780	741	1	the	the	DET
cblr-1780	741	2	general	general	ADJ
cblr-1780	741	3	theory	theory	NOUN
cblr-1780	741	4	applied	apply	VERB
cblr-1780	741	5	to	to	ADP
cblr-1780	741	6	a	a	DET
cblr-1780	741	7	political	political	ADJ
cblr-1780	741	8	spending	spending	NOUN
cblr-1780	741	9	disclosure	disclosure	NOUN
cblr-1780	741	10	requirement	requirement	NOUN
cblr-1780	741	11	in	in	ADP
cblr-1780	741	12	this	this	DET
cblr-1780	741	13	section	section	NOUN
cblr-1780	741	14	i	i	PRON
cblr-1780	741	15	start	start	VERB
cblr-1780	741	16	from	from	ADP
cblr-1780	741	17	the	the	DET
cblr-1780	741	18	presumption	presumption	NOUN
cblr-1780	741	19	that	that	SCONJ
cblr-1780	741	20	political	political	ADJ
cblr-1780	741	21	spending	spending	NOUN
cblr-1780	741	22	should	should	AUX
cblr-1780	741	23	not	not	PART
cblr-1780	741	24	be	be	AUX
cblr-1780	741	25	subject	subject	ADJ
cblr-1780	741	26	to	to	ADP
cblr-1780	741	27	a	a	DET
cblr-1780	741	28	mandatory	mandatory	ADJ
cblr-1780	741	29	disclosure	disclosure	NOUN
cblr-1780	741	30	obligation	obligation	NOUN
cblr-1780	741	31	,	,	PUNCT
cblr-1780	741	32	and	and	CCONJ
cblr-1780	741	33	then	then	ADV
cblr-1780	741	34	consider	consider	VERB
cblr-1780	741	35	whether	whether	SCONJ
cblr-1780	741	36	there	there	PRON
cblr-1780	741	37	is	be	VERB
cblr-1780	741	38	evidence	evidence	NOUN
cblr-1780	741	39	that	that	SCONJ
cblr-1780	741	40	166	166	NUM
cblr-1780	741	41	see	see	VERB
cblr-1780	741	42	supra	supra	PROPN
cblr-1780	741	43	part	part	NOUN
cblr-1780	741	44	ii.a	ii.a	PROPN
cblr-1780	741	45	.	.	PUNCT
cblr-1780	742	1	guttentag	guttentag	NOUN
cblr-1780	742	2	–	–	PUNCT
cblr-1780	742	3	final	final	ADJ
cblr-1780	742	4	646	646	NUM
cblr-1780	742	5	columbia	columbia	PROPN
cblr-1780	742	6	business	business	NOUN
cblr-1780	742	7	law	law	NOUN
cblr-1780	742	8	review	review	NOUN
cblr-1780	743	1	[	[	X
cblr-1780	743	2	vol	vol	NOUN
cblr-1780	743	3	.	.	PUNCT
cblr-1780	743	4	2014	2014	NUM
cblr-1780	743	5	requiring	require	VERB
cblr-1780	743	6	political	political	ADJ
cblr-1780	743	7	spending	spending	NOUN
cblr-1780	743	8	disclosure	disclosure	NOUN
cblr-1780	743	9	would	would	AUX
cblr-1780	743	10	provide	provide	VERB
cblr-1780	743	11	enough	enough	ADJ
cblr-1780	743	12	of	of	ADP
cblr-1780	743	13	a	a	DET
cblr-1780	743	14	corrective	corrective	ADJ
cblr-1780	743	15	for	for	ADP
cblr-1780	743	16	positive	positive	ADJ
cblr-1780	743	17	externalities	externality	NOUN
cblr-1780	743	18	or	or	CCONJ
cblr-1780	743	19	excessive	excessive	ADJ
cblr-1780	743	20	tunneling	tunneling	NOUN
cblr-1780	743	21	to	to	PART
cblr-1780	743	22	overcome	overcome	VERB
cblr-1780	743	23	this	this	DET
cblr-1780	743	24	presumption	presumption	NOUN
cblr-1780	743	25	.	.	PUNCT
cblr-1780	744	1	a.	a.	NOUN
cblr-1780	744	2	positive	positive	ADJ
cblr-1780	744	3	externalities	externality	NOUN
cblr-1780	744	4	and	and	CCONJ
cblr-1780	744	5	political	political	ADJ
cblr-1780	744	6	spending	spending	NOUN
cblr-1780	744	7	disclosure	disclosure	NOUN
cblr-1780	744	8	the	the	DET
cblr-1780	744	9	benefits	benefit	NOUN
cblr-1780	744	10	that	that	PRON
cblr-1780	744	11	disclosure	disclosure	NOUN
cblr-1780	744	12	requirements	requirement	NOUN
cblr-1780	744	13	can	can	AUX
cblr-1780	744	14	provide	provide	VERB
cblr-1780	744	15	as	as	ADP
cblr-1780	744	16	a	a	DET
cblr-1780	744	17	corrective	corrective	ADJ
cblr-1780	744	18	for	for	ADP
cblr-1780	744	19	positive	positive	ADJ
cblr-1780	744	20	externalities	externality	NOUN
cblr-1780	744	21	are	be	AUX
cblr-1780	744	22	unlikely	unlikely	ADJ
cblr-1780	744	23	to	to	PART
cblr-1780	744	24	justify	justify	VERB
cblr-1780	744	25	requiring	require	VERB
cblr-1780	744	26	disclosure	disclosure	NOUN
cblr-1780	744	27	of	of	ADP
cblr-1780	744	28	political	political	ADJ
cblr-1780	744	29	spending	spending	NOUN
cblr-1780	744	30	.	.	PUNCT
cblr-1780	745	1	it	it	PRON
cblr-1780	745	2	is	be	AUX
cblr-1780	745	3	doubtful	doubtful	ADJ
cblr-1780	745	4	that	that	SCONJ
cblr-1780	745	5	a	a	DET
cblr-1780	745	6	firm	firm	NOUN
cblr-1780	745	7	’s	’s	PART
cblr-1780	745	8	choice	choice	NOUN
cblr-1780	745	9	about	about	ADP
cblr-1780	745	10	whether	whether	SCONJ
cblr-1780	745	11	to	to	PART
cblr-1780	745	12	disclose	disclose	VERB
cblr-1780	745	13	its	its	PRON
cblr-1780	745	14	political	political	ADJ
cblr-1780	745	15	spending	spending	NOUN
cblr-1780	745	16	is	be	AUX
cblr-1780	745	17	affected	affect	VERB
cblr-1780	745	18	by	by	ADP
cblr-1780	745	19	positive	positive	ADJ
cblr-1780	745	20	externalities	externality	NOUN
cblr-1780	745	21	.	.	PUNCT
cblr-1780	746	1	many	many	ADJ
cblr-1780	746	2	public	public	ADJ
cblr-1780	746	3	firms	firm	NOUN
cblr-1780	746	4	do	do	AUX
cblr-1780	746	5	not	not	PART
cblr-1780	746	6	disclose	disclose	VERB
cblr-1780	746	7	their	their	PRON
cblr-1780	746	8	political	political	ADJ
cblr-1780	746	9	spending	spending	NOUN
cblr-1780	746	10	,	,	PUNCT
cblr-1780	746	11	but	but	CCONJ
cblr-1780	746	12	there	there	PRON
cblr-1780	746	13	is	be	VERB
cblr-1780	746	14	a	a	DET
cblr-1780	746	15	much	much	ADV
cblr-1780	746	16	more	more	ADV
cblr-1780	746	17	plausible	plausible	ADJ
cblr-1780	746	18	explanation	explanation	NOUN
cblr-1780	746	19	,	,	PUNCT
cblr-1780	746	20	other	other	ADJ
cblr-1780	746	21	than	than	ADP
cblr-1780	746	22	distortions	distortion	NOUN
cblr-1780	746	23	caused	cause	VERB
cblr-1780	746	24	by	by	ADP
cblr-1780	746	25	positive	positive	ADJ
cblr-1780	746	26	externalities	externality	NOUN
cblr-1780	746	27	,	,	PUNCT
cblr-1780	746	28	for	for	ADP
cblr-1780	746	29	this	this	DET
cblr-1780	746	30	non	non	ADJ
cblr-1780	746	31	-	-	NOUN
cblr-1780	746	32	disclosure	disclosure	NOUN
cblr-1780	746	33	of	of	ADP
cblr-1780	746	34	political	political	ADJ
cblr-1780	746	35	spending.167	spending.167	NOUN
cblr-1780	746	36	for	for	ADP
cblr-1780	746	37	almost	almost	ADV
cblr-1780	746	38	all	all	PRON
cblr-1780	746	39	,	,	PUNCT
cblr-1780	746	40	if	if	SCONJ
cblr-1780	746	41	not	not	PART
cblr-1780	746	42	all	all	PRON
cblr-1780	746	43	,	,	PUNCT
cblr-1780	746	44	public	public	ADJ
cblr-1780	746	45	firms	firm	NOUN
cblr-1780	746	46	,	,	PUNCT
cblr-1780	746	47	the	the	DET
cblr-1780	746	48	amounts	amount	NOUN
cblr-1780	746	49	involved	involve	VERB
cblr-1780	746	50	in	in	ADP
cblr-1780	746	51	political	political	ADJ
cblr-1780	746	52	spending	spending	NOUN
cblr-1780	746	53	are	be	AUX
cblr-1780	746	54	so	so	ADV
cblr-1780	746	55	small	small	ADJ
cblr-1780	746	56	that	that	SCONJ
cblr-1780	746	57	they	they	PRON
cblr-1780	746	58	are	be	AUX
cblr-1780	746	59	trivial	trivial	ADJ
cblr-1780	746	60	from	from	ADP
cblr-1780	746	61	the	the	DET
cblr-1780	746	62	perspective	perspective	NOUN
cblr-1780	746	63	of	of	ADP
cblr-1780	746	64	overall	overall	ADJ
cblr-1780	746	65	firm	firm	ADJ
cblr-1780	746	66	value	value	NOUN
cblr-1780	746	67	.	.	PUNCT
cblr-1780	747	1	the	the	DET
cblr-1780	747	2	dollar	dollar	NOUN
cblr-1780	747	3	amounts	amount	NOUN
cblr-1780	747	4	involved	involve	VERB
cblr-1780	747	5	in	in	ADP
cblr-1780	747	6	political	political	ADJ
cblr-1780	747	7	spending	spending	NOUN
cblr-1780	747	8	by	by	ADP
cblr-1780	747	9	public	public	ADJ
cblr-1780	747	10	firms	firm	NOUN
cblr-1780	747	11	may	may	AUX
cblr-1780	747	12	appear	appear	VERB
cblr-1780	747	13	large	large	ADJ
cblr-1780	747	14	.	.	PUNCT
cblr-1780	748	1	for	for	ADP
cblr-1780	748	2	example	example	NOUN
cblr-1780	748	3	,	,	PUNCT
cblr-1780	748	4	publiclyreporting	publiclyreporte	VERB
cblr-1780	748	5	corporate	corporate	ADJ
cblr-1780	748	6	political	political	ADJ
cblr-1780	748	7	action	action	NOUN
cblr-1780	748	8	committees	committee	NOUN
cblr-1780	748	9	(	(	PUNCT
cblr-1780	748	10	“	"	PUNCT
cblr-1780	748	11	pacs	pac	NOUN
cblr-1780	748	12	”	"	PUNCT
cblr-1780	748	13	)	)	PUNCT
cblr-1780	748	14	spent	spend	VERB
cblr-1780	748	15	almost	almost	ADV
cblr-1780	748	16	$	$	SYM
cblr-1780	748	17	350	350	NUM
cblr-1780	748	18	million	million	NUM
cblr-1780	748	19	in	in	ADP
cblr-1780	748	20	2012.168	2012.168	NOUN
cblr-1780	748	21	moreover	moreover	ADV
cblr-1780	748	22	,	,	PUNCT
cblr-1780	748	23	not	not	PART
cblr-1780	748	24	all	all	DET
cblr-1780	748	25	public	public	ADJ
cblr-1780	748	26	company	company	NOUN
cblr-1780	748	27	political	political	ADJ
cblr-1780	748	28	spending	spending	NOUN
cblr-1780	748	29	can	can	AUX
cblr-1780	748	30	be	be	AUX
cblr-1780	748	31	observed.169	observed.169	ADJ
cblr-1780	748	32	as	as	ADP
cblr-1780	748	33	one	one	NUM
cblr-1780	748	34	indicator	indicator	NOUN
cblr-1780	748	35	of	of	ADP
cblr-1780	748	36	the	the	DET
cblr-1780	748	37	magnitude	magnitude	NOUN
cblr-1780	748	38	of	of	ADP
cblr-1780	748	39	undisclosed	undisclosed	ADJ
cblr-1780	748	40	political	political	ADJ
cblr-1780	748	41	spending	spending	NOUN
cblr-1780	748	42	by	by	ADP
cblr-1780	748	43	public	public	ADJ
cblr-1780	748	44	corporations	corporation	NOUN
cblr-1780	748	45	,	,	PUNCT
cblr-1780	748	46	bebchuk	bebchuk	PROPN
cblr-1780	748	47	and	and	CCONJ
cblr-1780	748	48	jackson	jackson	PROPN
cblr-1780	748	49	note	note	VERB
cblr-1780	748	50	that	that	SCONJ
cblr-1780	748	51	“	"	PUNCT
cblr-1780	748	52	spending	spend	VERB
cblr-1780	748	53	by	by	ADP
cblr-1780	748	54	just	just	ADV
cblr-1780	748	55	eight	eight	NUM
cblr-1780	748	56	of	of	ADP
cblr-1780	748	57	the	the	DET
cblr-1780	748	58	most	most	ADV
cblr-1780	748	59	active	active	ADJ
cblr-1780	748	60	intermediaries	intermediary	NOUN
cblr-1780	748	61	between	between	ADP
cblr-1780	748	62	public	public	ADJ
cblr-1780	748	63	companies	company	NOUN
cblr-1780	748	64	and	and	CCONJ
cblr-1780	748	65	politics	politic	NOUN
cblr-1780	748	66	exceeded	exceed	VERB
cblr-1780	748	67	$	$	SYM
cblr-1780	748	68	1.5	1.5	NUM
cblr-1780	748	69	billion	billion	NUM
cblr-1780	748	70	167	167	NUM
cblr-1780	748	71	bebchuk	bebchuk	NOUN
cblr-1780	748	72	and	and	CCONJ
cblr-1780	748	73	jackson	jackson	PROPN
cblr-1780	748	74	report	report	VERB
cblr-1780	748	75	that	that	SCONJ
cblr-1780	748	76	some	some	PRON
cblr-1780	748	77	,	,	PUNCT
cblr-1780	748	78	but	but	CCONJ
cblr-1780	748	79	not	not	PART
cblr-1780	748	80	all	all	PRON
cblr-1780	748	81	,	,	PUNCT
cblr-1780	748	82	public	public	ADJ
cblr-1780	748	83	firms	firm	NOUN
cblr-1780	748	84	already	already	ADV
cblr-1780	748	85	do	do	AUX
cblr-1780	748	86	voluntarily	voluntarily	ADV
cblr-1780	748	87	disclose	disclose	VERB
cblr-1780	748	88	political	political	ADJ
cblr-1780	748	89	spending	spending	NOUN
cblr-1780	748	90	information	information	NOUN
cblr-1780	748	91	.	.	PUNCT
cblr-1780	749	1	bebchuk	bebchuk	PROPN
cblr-1780	749	2	&	&	CCONJ
cblr-1780	749	3	jackson	jackson	PROPN
cblr-1780	749	4	,	,	PUNCT
cblr-1780	749	5	shining	shine	VERB
cblr-1780	749	6	light	light	NOUN
cblr-1780	749	7	,	,	PUNCT
cblr-1780	749	8	supra	supra	PROPN
cblr-1780	749	9	note	note	NOUN
cblr-1780	749	10	27	27	NUM
cblr-1780	749	11	,	,	PUNCT
cblr-1780	749	12	at	at	ADP
cblr-1780	749	13	934	934	NUM
cblr-1780	749	14	.	.	PUNCT
cblr-1780	750	1	168	168	NUM
cblr-1780	750	2	press	press	NOUN
cblr-1780	750	3	release	release	NOUN
cblr-1780	750	4	,	,	PUNCT
cblr-1780	750	5	federal	federal	ADJ
cblr-1780	750	6	election	election	NOUN
cblr-1780	750	7	commission	commission	PROPN
cblr-1780	750	8	,	,	PUNCT
cblr-1780	750	9	fec	fec	PROPN
cblr-1780	750	10	summarizes	summarize	NOUN
cblr-1780	750	11	campaign	campaign	NOUN
cblr-1780	750	12	activity	activity	NOUN
cblr-1780	750	13	of	of	ADP
cblr-1780	750	14	the	the	DET
cblr-1780	750	15	2011	2011	NUM
cblr-1780	750	16	-	-	SYM
cblr-1780	750	17	2012	2012	NUM
cblr-1780	750	18	election	election	NOUN
cblr-1780	750	19	cycle	cycle	NOUN
cblr-1780	750	20	(	(	PUNCT
cblr-1780	750	21	apr	apr	PROPN
cblr-1780	750	22	.	.	PROPN
cblr-1780	750	23	19	19	NUM
cblr-1780	750	24	,	,	PUNCT
cblr-1780	750	25	2013	2013	NUM
cblr-1780	750	26	)	)	PUNCT
cblr-1780	750	27	,	,	PUNCT
cblr-1780	750	28	http://perma.cc/7aq6-fy4q	http://perma.cc/7aq6-fy4q	PRON
cblr-1780	750	29	.	.	PUNCT
cblr-1780	751	1	but	but	CCONJ
cblr-1780	751	2	see	see	VERB
cblr-1780	751	3	eduardo	eduardo	PROPN
cblr-1780	751	4	porter	porter	PROPN
cblr-1780	751	5	,	,	PUNCT
cblr-1780	751	6	business	business	NOUN
cblr-1780	751	7	losing	lose	VERB
cblr-1780	751	8	clout	clout	NOUN
cblr-1780	751	9	in	in	ADP
cblr-1780	751	10	a	a	DET
cblr-1780	751	11	g.o.p	g.o.p	NOUN
cblr-1780	751	12	.	.	PUNCT
cblr-1780	752	1	moving	move	VERB
cblr-1780	752	2	right	right	ADJ
cblr-1780	752	3	,	,	PUNCT
cblr-1780	752	4	n.y	n.y	PROPN
cblr-1780	752	5	.	.	PROPN
cblr-1780	752	6	times	times	PROPN
cblr-1780	752	7	,	,	PUNCT
cblr-1780	752	8	sept	sept	PROPN
cblr-1780	752	9	.	.	PROPN
cblr-1780	752	10	4	4	NUM
cblr-1780	752	11	,	,	PUNCT
cblr-1780	752	12	2013	2013	NUM
cblr-1780	752	13	,	,	PUNCT
cblr-1780	752	14	at	at	ADP
cblr-1780	752	15	b1	b1	NOUN
cblr-1780	752	16	(	(	PUNCT
cblr-1780	752	17	noting	note	VERB
cblr-1780	752	18	that	that	SCONJ
cblr-1780	752	19	“	"	PUNCT
cblr-1780	752	20	companies	company	NOUN
cblr-1780	752	21	openly	openly	ADV
cblr-1780	752	22	spent	spend	VERB
cblr-1780	752	23	about	about	ADP
cblr-1780	752	24	$	$	SYM
cblr-1780	752	25	75	75	NUM
cblr-1780	752	26	million	million	NUM
cblr-1780	752	27	from	from	ADP
cblr-1780	752	28	their	their	PRON
cblr-1780	752	29	treasuries	treasury	NOUN
cblr-1780	752	30	on	on	ADP
cblr-1780	752	31	federal	federal	ADJ
cblr-1780	752	32	elections	election	NOUN
cblr-1780	752	33	in	in	ADP
cblr-1780	752	34	2012	2012	NUM
cblr-1780	752	35	)	)	PUNCT
cblr-1780	752	36	(	(	PUNCT
cblr-1780	752	37	citing	cite	VERB
cblr-1780	752	38	adam	adam	PROPN
cblr-1780	752	39	bonica	bonica	PROPN
cblr-1780	752	40	,	,	PUNCT
cblr-1780	752	41	avenues	avenue	NOUN
cblr-1780	752	42	of	of	ADP
cblr-1780	752	43	influence	influence	NOUN
cblr-1780	752	44	:	:	PUNCT
cblr-1780	752	45	on	on	ADP
cblr-1780	752	46	the	the	DET
cblr-1780	752	47	political	political	ADJ
cblr-1780	752	48	expenditures	expenditure	NOUN
cblr-1780	752	49	of	of	ADP
cblr-1780	752	50	corporations	corporation	NOUN
cblr-1780	752	51	and	and	CCONJ
cblr-1780	752	52	their	their	PRON
cblr-1780	752	53	directors	director	NOUN
cblr-1780	752	54	and	and	CCONJ
cblr-1780	752	55	executives	executive	NOUN
cblr-1780	752	56	1	1	NUM
cblr-1780	752	57	(	(	PUNCT
cblr-1780	752	58	june	june	PROPN
cblr-1780	752	59	20	20	NUM
cblr-1780	752	60	,	,	PUNCT
cblr-1780	752	61	2014	2014	NUM
cblr-1780	752	62	)	)	PUNCT
cblr-1780	752	63	(	(	PUNCT
cblr-1780	752	64	unpublished	unpublished	ADJ
cblr-1780	752	65	manuscript	manuscript	NOUN
cblr-1780	752	66	)	)	PUNCT
cblr-1780	752	67	,	,	PUNCT
cblr-1780	752	68	available	available	ADJ
cblr-1780	752	69	at	at	ADP
cblr-1780	752	70	http://perma.cc/e38u-uysx	http://perma.cc/e38u-uysx	PROPN
cblr-1780	752	71	)	)	PUNCT
cblr-1780	752	72	.	.	PUNCT
cblr-1780	753	1	moreover	moreover	ADV
cblr-1780	753	2	,	,	PUNCT
cblr-1780	753	3	bonica	bonica	NOUN
cblr-1780	753	4	estimates	estimate	VERB
cblr-1780	753	5	that	that	SCONJ
cblr-1780	753	6	the	the	DET
cblr-1780	753	7	majority	majority	NOUN
cblr-1780	753	8	of	of	ADP
cblr-1780	753	9	this	this	DET
cblr-1780	753	10	$	$	SYM
cblr-1780	753	11	75	75	NUM
cblr-1780	753	12	million	million	NUM
cblr-1780	753	13	does	do	AUX
cblr-1780	753	14	not	not	PART
cblr-1780	753	15	come	come	VERB
cblr-1780	753	16	from	from	ADP
cblr-1780	753	17	public	public	ADJ
cblr-1780	753	18	companies	company	NOUN
cblr-1780	753	19	.	.	PUNCT
cblr-1780	754	1	i	i	PRON
cblr-1780	754	2	d.	d.	PROPN
cblr-1780	754	3	at	at	ADP
cblr-1780	754	4	1	1	NUM
cblr-1780	754	5	.	.	SYM
cblr-1780	754	6	169	169	NUM
cblr-1780	754	7	see	see	VERB
cblr-1780	754	8	bebchuk	bebchuk	PROPN
cblr-1780	754	9	&	&	CCONJ
cblr-1780	754	10	jackson	jackson	PROPN
cblr-1780	754	11	,	,	PUNCT
cblr-1780	754	12	who	who	PRON
cblr-1780	754	13	decides	decide	VERB
cblr-1780	754	14	,	,	PUNCT
cblr-1780	754	15	supra	supra	PROPN
cblr-1780	754	16	note	note	NOUN
cblr-1780	754	17	23	23	NUM
cblr-1780	754	18	,	,	PUNCT
cblr-1780	754	19	at	at	ADP
cblr-1780	754	20	104–07	104–07	NUM
cblr-1780	754	21	.	.	PUNCT
cblr-1780	755	1	guttentag	guttentag	NOUN
cblr-1780	755	2	–	–	PUNCT
cblr-1780	755	3	final	final	ADJ
cblr-1780	755	4	no	no	NOUN
cblr-1780	755	5	.	.	PUNCT
cblr-1780	756	1	3:593	3:593	NUM
cblr-1780	756	2	]	]	PUNCT
cblr-1780	756	3	on	on	ADP
cblr-1780	756	4	political	political	ADJ
cblr-1780	756	5	spending	spending	NOUN
cblr-1780	756	6	disclosure	disclosure	NOUN
cblr-1780	756	7	647	647	NUM
cblr-1780	756	8	between	between	ADP
cblr-1780	756	9	2005	2005	NUM
cblr-1780	756	10	and	and	CCONJ
cblr-1780	756	11	2010.”170	2010.”170	NUM
cblr-1780	756	12	about	about	ADP
cblr-1780	756	13	this	this	DET
cblr-1780	756	14	amount	amount	NOUN
cblr-1780	756	15	,	,	PUNCT
cblr-1780	756	16	bebchuk	bebchuk	NOUN
cblr-1780	756	17	and	and	CCONJ
cblr-1780	756	18	jackson	jackson	PROPN
cblr-1780	756	19	observe	observe	PROPN
cblr-1780	756	20	,	,	PUNCT
cblr-1780	756	21	“	"	PUNCT
cblr-1780	756	22	[	[	X
cblr-1780	756	23	this	this	PRON
cblr-1780	756	24	]	]	PUNCT
cblr-1780	756	25	is	be	AUX
cblr-1780	756	26	hardly	hardly	ADV
cblr-1780	756	27	a	a	DET
cblr-1780	756	28	trivial	trivial	ADJ
cblr-1780	756	29	sum	sum	NOUN
cblr-1780	756	30	.	.	PUNCT
cblr-1780	757	1	”171	”171	PROPN
cblr-1780	758	1	however	however	ADV
cblr-1780	758	2	,	,	PUNCT
cblr-1780	758	3	from	from	ADP
cblr-1780	758	4	the	the	DET
cblr-1780	758	5	perspective	perspective	NOUN
cblr-1780	758	6	of	of	ADP
cblr-1780	758	7	the	the	DET
cblr-1780	758	8	enterprise	enterprise	NOUN
cblr-1780	758	9	value	value	NOUN
cblr-1780	758	10	of	of	ADP
cblr-1780	758	11	public	public	ADJ
cblr-1780	758	12	firms	firm	NOUN
cblr-1780	758	13	,	,	PUNCT
cblr-1780	758	14	the	the	DET
cblr-1780	758	15	amounts	amount	NOUN
cblr-1780	758	16	involved	involve	VERB
cblr-1780	758	17	in	in	ADP
cblr-1780	758	18	political	political	ADJ
cblr-1780	758	19	spending	spending	NOUN
cblr-1780	758	20	are	be	AUX
cblr-1780	758	21	,	,	PUNCT
cblr-1780	758	22	in	in	ADP
cblr-1780	758	23	fact	fact	NOUN
cblr-1780	758	24	,	,	PUNCT
cblr-1780	758	25	trivial.172	trivial.172	NOUN
cblr-1780	758	26	the	the	DET
cblr-1780	758	27	market	market	NOUN
cblr-1780	758	28	capitalization	capitalization	NOUN
cblr-1780	758	29	of	of	ADP
cblr-1780	758	30	public	public	ADJ
cblr-1780	758	31	firms	firm	NOUN
cblr-1780	758	32	in	in	ADP
cblr-1780	758	33	the	the	DET
cblr-1780	758	34	united	united	PROPN
cblr-1780	758	35	states	states	PROPN
cblr-1780	758	36	exceeded	exceed	VERB
cblr-1780	758	37	$	$	SYM
cblr-1780	758	38	18	18	NUM
cblr-1780	758	39	trillion	trillion	NUM
cblr-1780	758	40	at	at	ADP
cblr-1780	758	41	the	the	DET
cblr-1780	758	42	end	end	NOUN
cblr-1780	758	43	of	of	ADP
cblr-1780	758	44	2012.173	2012.173	PROPN
cblr-1780	758	45	in	in	ADP
cblr-1780	758	46	comparison	comparison	NOUN
cblr-1780	758	47	,	,	PUNCT
cblr-1780	758	48	the	the	DET
cblr-1780	758	49	value	value	NOUN
cblr-1780	758	50	of	of	ADP
cblr-1780	758	51	all	all	DET
cblr-1780	758	52	known	know	VERB
cblr-1780	758	53	expenditures	expenditure	NOUN
cblr-1780	758	54	on	on	ADP
cblr-1780	758	55	federal	federal	ADJ
cblr-1780	758	56	election	election	NOUN
cblr-1780	758	57	campaigns	campaign	NOUN
cblr-1780	758	58	in	in	ADP
cblr-1780	758	59	the	the	DET
cblr-1780	758	60	2012	2012	NUM
cblr-1780	758	61	election	election	NOUN
cblr-1780	758	62	cycle	cycle	NOUN
cblr-1780	758	63	(	(	PUNCT
cblr-1780	758	64	$	$	SYM
cblr-1780	758	65	7	7	NUM
cblr-1780	758	66	billion	billion	NUM
cblr-1780	758	67	)	)	PUNCT
cblr-1780	758	68	is	be	AUX
cblr-1780	758	69	a	a	DET
cblr-1780	758	70	minor	minor	ADJ
cblr-1780	758	71	rounding	rounding	NOUN
cblr-1780	758	72	error	error	NOUN
cblr-1780	758	73	,	,	PUNCT
cblr-1780	758	74	less	less	ADJ
cblr-1780	758	75	than	than	ADP
cblr-1780	758	76	four	four	NUM
cblr-1780	758	77	-	-	PUNCT
cblr-1780	758	78	one	one	NUM
cblr-1780	758	79	hundredths	hundredth	NOUN
cblr-1780	758	80	of	of	ADP
cblr-1780	758	81	a	a	DET
cblr-1780	758	82	percentage	percentage	NOUN
cblr-1780	758	83	point	point	NOUN
cblr-1780	758	84	(	(	PUNCT
cblr-1780	758	85	0.04%).174	0.04%).174	ADV
cblr-1780	758	86	moreover	moreover	ADV
cblr-1780	758	87	,	,	PUNCT
cblr-1780	758	88	the	the	DET
cblr-1780	758	89	value	value	NOUN
cblr-1780	758	90	of	of	ADP
cblr-1780	758	91	all	all	DET
cblr-1780	758	92	known	know	VERB
cblr-1780	758	93	expenditures	expenditure	NOUN
cblr-1780	758	94	on	on	ADP
cblr-1780	758	95	federal	federal	ADJ
cblr-1780	758	96	election	election	NOUN
cblr-1780	758	97	campaigns	campaign	NOUN
cblr-1780	758	98	in	in	ADP
cblr-1780	758	99	2012	2012	NUM
cblr-1780	758	100	certainly	certainly	ADV
cblr-1780	758	101	overstates	overstate	VERB
cblr-1780	758	102	the	the	DET
cblr-1780	758	103	amount	amount	NOUN
cblr-1780	758	104	of	of	ADP
cblr-1780	758	105	political	political	ADJ
cblr-1780	758	106	spending	spending	NOUN
cblr-1780	758	107	on	on	ADP
cblr-1780	758	108	federal	federal	ADJ
cblr-1780	758	109	elections	election	NOUN
cblr-1780	758	110	by	by	ADP
cblr-1780	758	111	public	public	ADJ
cblr-1780	758	112	firms	firm	NOUN
cblr-1780	758	113	for	for	ADP
cblr-1780	758	114	two	two	NUM
cblr-1780	758	115	reasons	reason	NOUN
cblr-1780	758	116	.	.	PUNCT
cblr-1780	759	1	first	first	ADV
cblr-1780	759	2	,	,	PUNCT
cblr-1780	759	3	this	this	DET
cblr-1780	759	4	estimate	estimate	NOUN
cblr-1780	759	5	assumes	assume	VERB
cblr-1780	759	6	that	that	SCONJ
cblr-1780	759	7	all	all	DET
cblr-1780	759	8	federal	federal	ADJ
cblr-1780	759	9	campaign	campaign	NOUN
cblr-1780	759	10	financing	financing	NOUN
cblr-1780	759	11	is	be	AUX
cblr-1780	759	12	provided	provide	VERB
cblr-1780	759	13	exclusively	exclusively	ADV
cblr-1780	759	14	by	by	ADP
cblr-1780	759	15	public	public	ADJ
cblr-1780	759	16	companies	company	NOUN
cblr-1780	759	17	,	,	PUNCT
cblr-1780	759	18	which	which	PRON
cblr-1780	759	19	is	be	AUX
cblr-1780	759	20	obviously	obviously	ADV
cblr-1780	759	21	not	not	PART
cblr-1780	759	22	the	the	DET
cblr-1780	759	23	case	case	NOUN
cblr-1780	759	24	.	.	PUNCT
cblr-1780	760	1	a	a	DET
cblr-1780	760	2	more	more	ADV
cblr-1780	760	3	plausible	plausible	ADJ
cblr-1780	760	4	,	,	PUNCT
cblr-1780	760	5	although	although	SCONJ
cblr-1780	760	6	still	still	ADV
cblr-1780	760	7	quite	quite	ADV
cblr-1780	760	8	generous	generous	ADJ
cblr-1780	760	9	,	,	PUNCT
cblr-1780	760	10	upper	upper	ADJ
cblr-1780	760	11	bound	bind	VERB
cblr-1780	760	12	on	on	ADP
cblr-1780	760	13	political	political	ADJ
cblr-1780	760	14	spending	spending	NOUN
cblr-1780	760	15	by	by	ADP
cblr-1780	760	16	public	public	ADJ
cblr-1780	760	17	companies	company	NOUN
cblr-1780	760	18	during	during	ADP
cblr-1780	760	19	this	this	DET
cblr-1780	760	20	election	election	NOUN
cblr-1780	760	21	cycle	cycle	NOUN
cblr-1780	760	22	comes	come	VERB
cblr-1780	760	23	from	from	ADP
cblr-1780	760	24	the	the	DET
cblr-1780	760	25	work	work	NOUN
cblr-1780	760	26	of	of	ADP
cblr-1780	760	27	political	political	ADJ
cblr-1780	760	28	scientist	scientist	NOUN
cblr-1780	760	29	adam	adam	PROPN
cblr-1780	760	30	bonica	bonica	PROPN
cblr-1780	760	31	.	.	PUNCT
cblr-1780	761	1	bonica	bonica	PROPN
cblr-1780	761	2	estimated	estimate	VERB
cblr-1780	761	3	that	that	SCONJ
cblr-1780	761	4	private	private	ADJ
cblr-1780	761	5	and	and	CCONJ
cblr-1780	761	6	public	public	ADJ
cblr-1780	761	7	companies	company	NOUN
cblr-1780	761	8	combined	combine	VERB
cblr-1780	761	9	spent	spend	VERB
cblr-1780	761	10	no	no	DET
cblr-1780	761	11	more	more	ADJ
cblr-1780	761	12	than	than	ADP
cblr-1780	761	13	$	$	SYM
cblr-1780	761	14	400	400	NUM
cblr-1780	761	15	million	million	NUM
cblr-1780	761	16	in	in	ADP
cblr-1780	761	17	2012.175	2012.175	PROPN
cblr-1780	761	18	this	this	DET
cblr-1780	761	19	amount	amount	NOUN
cblr-1780	761	20	represents	represent	VERB
cblr-1780	761	21	less	less	ADJ
cblr-1780	761	22	than	than	ADP
cblr-1780	761	23	two	two	NUM
cblr-1780	761	24	one	one	NUM
cblr-1780	761	25	-	-	PUNCT
cblr-1780	761	26	thousandths	thousandth	NOUN
cblr-1780	761	27	of	of	ADP
cblr-1780	761	28	a	a	DET
cblr-1780	761	29	percentage	percentage	NOUN
cblr-1780	761	30	point	point	NOUN
cblr-1780	761	31	(	(	PUNCT
cblr-1780	761	32	0.002	0.002	NUM
cblr-1780	761	33	%	%	NOUN
cblr-1780	761	34	)	)	PUNCT
cblr-1780	761	35	of	of	ADP
cblr-1780	761	36	public	public	ADJ
cblr-1780	761	37	firm	firm	ADJ
cblr-1780	761	38	market	market	NOUN
cblr-1780	761	39	170	170	NUM
cblr-1780	761	40	bebchuk	bebchuk	PROPN
cblr-1780	761	41	&	&	CCONJ
cblr-1780	761	42	jackson	jackson	PROPN
cblr-1780	761	43	,	,	PUNCT
cblr-1780	761	44	shining	shine	VERB
cblr-1780	761	45	light	light	NOUN
cblr-1780	761	46	,	,	PUNCT
cblr-1780	761	47	supra	supra	PROPN
cblr-1780	761	48	note	note	NOUN
cblr-1780	761	49	27	27	NUM
cblr-1780	761	50	,	,	PUNCT
cblr-1780	761	51	at	at	ADP
cblr-1780	761	52	931	931	NUM
cblr-1780	761	53	,	,	PUNCT
cblr-1780	761	54	956	956	NUM
cblr-1780	761	55	.	.	NOUN
cblr-1780	761	56	171	171	NUM
cblr-1780	762	1	i	i	PRON
cblr-1780	762	2	d.	d.	NOUN
cblr-1780	762	3	at	at	ADP
cblr-1780	762	4	956	956	NUM
cblr-1780	762	5	.	.	PUNCT
cblr-1780	763	1	172	172	NUM
cblr-1780	763	2	see	see	VERB
cblr-1780	763	3	also	also	ADV
cblr-1780	763	4	copland	copland	PROPN
cblr-1780	763	5	,	,	PUNCT
cblr-1780	763	6	supra	supra	PROPN
cblr-1780	763	7	note	note	PROPN
cblr-1780	763	8	28	28	NUM
cblr-1780	763	9	,	,	PUNCT
cblr-1780	763	10	at	at	ADP
cblr-1780	763	11	385–89	385–89	NUM
cblr-1780	763	12	.	.	PUNCT
cblr-1780	764	1	173	173	NUM
cblr-1780	764	2	data	datum	NOUN
cblr-1780	764	3	:	:	PUNCT
cblr-1780	764	4	market	market	NOUN
cblr-1780	764	5	capitalization	capitalization	NOUN
cblr-1780	764	6	of	of	ADP
cblr-1780	764	7	listed	list	VERB
cblr-1780	764	8	companies	company	NOUN
cblr-1780	764	9	(	(	PUNCT
cblr-1780	764	10	current	current	ADJ
cblr-1780	764	11	us$	us$	NOUN
cblr-1780	764	12	)	)	PUNCT
cblr-1780	764	13	,	,	PUNCT
cblr-1780	764	14	world	world	NOUN
cblr-1780	764	15	bank	bank	PROPN
cblr-1780	764	16	,	,	PUNCT
cblr-1780	764	17	http://perma.cc/5jq2-kr43	http://perma.cc/5jq2-kr43	X
cblr-1780	764	18	(	(	PUNCT
cblr-1780	764	19	last	last	ADV
cblr-1780	764	20	visited	visit	VERB
cblr-1780	764	21	nov	nov	PROPN
cblr-1780	764	22	.	.	PROPN
cblr-1780	764	23	23	23	NUM
cblr-1780	764	24	,	,	PUNCT
cblr-1780	764	25	2014	2014	NUM
cblr-1780	764	26	)	)	PUNCT
cblr-1780	764	27	.	.	PUNCT
cblr-1780	765	1	174	174	NUM
cblr-1780	765	2	press	press	NOUN
cblr-1780	765	3	release	release	NOUN
cblr-1780	765	4	,	,	PUNCT
cblr-1780	765	5	federal	federal	ADJ
cblr-1780	765	6	election	election	NOUN
cblr-1780	765	7	commission	commission	PROPN
cblr-1780	765	8	,	,	PUNCT
cblr-1780	765	9	fec	fec	PROPN
cblr-1780	765	10	summarizes	summarize	NOUN
cblr-1780	765	11	campaign	campaign	NOUN
cblr-1780	765	12	activity	activity	NOUN
cblr-1780	765	13	of	of	ADP
cblr-1780	765	14	the	the	DET
cblr-1780	765	15	2011	2011	NUM
cblr-1780	765	16	-	-	SYM
cblr-1780	765	17	2012	2012	NUM
cblr-1780	765	18	election	election	NOUN
cblr-1780	765	19	cycle	cycle	NOUN
cblr-1780	765	20	(	(	PUNCT
cblr-1780	765	21	apr	apr	PROPN
cblr-1780	765	22	.	.	PROPN
cblr-1780	765	23	19	19	NUM
cblr-1780	765	24	,	,	PUNCT
cblr-1780	765	25	2013	2013	NUM
cblr-1780	765	26	)	)	PUNCT
cblr-1780	765	27	,	,	PUNCT
cblr-1780	765	28	http://perma.cc/7aq6-fy4q	http://perma.cc/7aq6-fy4q	NOUN
cblr-1780	765	29	(	(	PUNCT
cblr-1780	765	30	estimating	estimate	VERB
cblr-1780	765	31	expenditures	expenditure	NOUN
cblr-1780	765	32	on	on	ADP
cblr-1780	765	33	all	all	DET
cblr-1780	765	34	federal	federal	ADJ
cblr-1780	765	35	election	election	NOUN
cblr-1780	765	36	campaigns	campaign	NOUN
cblr-1780	765	37	in	in	ADP
cblr-1780	765	38	the	the	DET
cblr-1780	765	39	2012	2012	NUM
cblr-1780	765	40	election	election	NOUN
cblr-1780	765	41	cycle	cycle	NOUN
cblr-1780	765	42	)	)	PUNCT
cblr-1780	765	43	.	.	PUNCT
cblr-1780	766	1	175	175	NUM
cblr-1780	766	2	bonica	bonica	NOUN
cblr-1780	766	3	,	,	PUNCT
cblr-1780	766	4	supra	supra	PROPN
cblr-1780	766	5	note	note	PROPN
cblr-1780	766	6	168	168	NUM
cblr-1780	766	7	,	,	PUNCT
cblr-1780	766	8	at	at	ADP
cblr-1780	766	9	1	1	NUM
cblr-1780	766	10	,	,	PUNCT
cblr-1780	766	11	estimates	estimate	VERB
cblr-1780	766	12	that	that	SCONJ
cblr-1780	766	13	even	even	ADV
cblr-1780	766	14	with	with	ADP
cblr-1780	766	15	the	the	DET
cblr-1780	766	16	“	"	PUNCT
cblr-1780	766	17	heroic	heroic	ADJ
cblr-1780	766	18	assumption	assumption	NOUN
cblr-1780	766	19	that	that	SCONJ
cblr-1780	766	20	all	all	DET
cblr-1780	766	21	‘	'	PUNCT
cblr-1780	766	22	dark	dark	ADJ
cblr-1780	766	23	money	money	NOUN
cblr-1780	766	24	’	'	PUNCT
cblr-1780	766	25	funneled	funnel	VERB
cblr-1780	766	26	through	through	ADP
cblr-1780	766	27	non	non	ADJ
cblr-1780	766	28	-	-	ADJ
cblr-1780	766	29	disclosing	disclose	VERB
cblr-1780	766	30	501(c	501(c	NOUN
cblr-1780	766	31	)	)	PUNCT
cblr-1780	766	32	non	non	ADJ
cblr-1780	766	33	-	-	ADJ
cblr-1780	766	34	profit	profit	ADJ
cblr-1780	766	35	organizations	organization	NOUN
cblr-1780	766	36	originated	originate	VERB
cblr-1780	766	37	from	from	ADP
cblr-1780	766	38	corporate	corporate	ADJ
cblr-1780	766	39	treasuries	treasury	NOUN
cblr-1780	766	40	,	,	PUNCT
cblr-1780	766	41	”	"	PUNCT
cblr-1780	766	42	the	the	DET
cblr-1780	766	43	maximum	maximum	ADJ
cblr-1780	766	44	contributions	contribution	NOUN
cblr-1780	766	45	to	to	ADP
cblr-1780	766	46	federal	federal	ADJ
cblr-1780	766	47	election	election	NOUN
cblr-1780	766	48	campaigns	campaign	NOUN
cblr-1780	766	49	during	during	ADP
cblr-1780	766	50	the	the	DET
cblr-1780	766	51	2012	2012	NUM
cblr-1780	766	52	cycle	cycle	NOUN
cblr-1780	766	53	from	from	ADP
cblr-1780	766	54	both	both	DET
cblr-1780	766	55	private	private	ADJ
cblr-1780	766	56	companies	company	NOUN
cblr-1780	766	57	and	and	CCONJ
cblr-1780	766	58	public	public	ADJ
cblr-1780	766	59	companies	company	NOUN
cblr-1780	766	60	did	do	AUX
cblr-1780	766	61	not	not	PART
cblr-1780	766	62	exceed	exceed	VERB
cblr-1780	766	63	$	$	SYM
cblr-1780	766	64	400	400	NUM
cblr-1780	766	65	million	million	NUM
cblr-1780	766	66	.	.	PUNCT
cblr-1780	767	1	guttentag	guttentag	NOUN
cblr-1780	767	2	–	–	PUNCT
cblr-1780	767	3	final	final	ADJ
cblr-1780	767	4	648	648	NUM
cblr-1780	767	5	columbia	columbia	PROPN
cblr-1780	767	6	business	business	NOUN
cblr-1780	767	7	law	law	PROPN
cblr-1780	767	8	review	review	NOUN
cblr-1780	768	1	[	[	X
cblr-1780	768	2	vol	vol	NOUN
cblr-1780	768	3	.	.	PUNCT
cblr-1780	768	4	2014	2014	NUM
cblr-1780	768	5	capitalization.176	capitalization.176	NOUN
cblr-1780	768	6	second	second	NOUN
cblr-1780	768	7	,	,	PUNCT
cblr-1780	768	8	this	this	DET
cblr-1780	768	9	estimate	estimate	NOUN
cblr-1780	768	10	assumes	assume	VERB
cblr-1780	768	11	that	that	SCONJ
cblr-1780	768	12	all	all	DET
cblr-1780	768	13	public	public	ADJ
cblr-1780	768	14	companies	company	NOUN
cblr-1780	768	15	fund	fund	VERB
cblr-1780	768	16	political	political	ADJ
cblr-1780	768	17	spending	spending	NOUN
cblr-1780	768	18	equally	equally	ADV
cblr-1780	768	19	,	,	PUNCT
cblr-1780	768	20	but	but	CCONJ
cblr-1780	768	21	the	the	DET
cblr-1780	768	22	evidence	evidence	NOUN
cblr-1780	768	23	suggests	suggest	VERB
cblr-1780	768	24	that	that	SCONJ
cblr-1780	768	25	political	political	ADJ
cblr-1780	768	26	spending	spending	NOUN
cblr-1780	768	27	is	be	AUX
cblr-1780	768	28	carried	carry	VERB
cblr-1780	768	29	out	out	ADP
cblr-1780	768	30	disproportionately	disproportionately	ADV
cblr-1780	768	31	by	by	ADP
cblr-1780	768	32	larger	large	ADJ
cblr-1780	768	33	firms.177	firms.177	NOUN
cblr-1780	768	34	if	if	SCONJ
cblr-1780	768	35	larger	large	ADJ
cblr-1780	768	36	firms	firm	NOUN
cblr-1780	768	37	are	be	AUX
cblr-1780	768	38	disproportionately	disproportionately	ADV
cblr-1780	768	39	more	more	ADV
cblr-1780	768	40	likely	likely	ADJ
cblr-1780	768	41	to	to	PART
cblr-1780	768	42	engage	engage	VERB
cblr-1780	768	43	in	in	ADP
cblr-1780	768	44	significant	significant	ADJ
cblr-1780	768	45	political	political	ADJ
cblr-1780	768	46	spending	spending	NOUN
cblr-1780	768	47	,	,	PUNCT
cblr-1780	768	48	then	then	ADV
cblr-1780	768	49	,	,	PUNCT
cblr-1780	768	50	on	on	ADP
cblr-1780	768	51	average	average	ADJ
cblr-1780	768	52	,	,	PUNCT
cblr-1780	768	53	the	the	DET
cblr-1780	768	54	relative	relative	ADJ
cblr-1780	768	55	impact	impact	NOUN
cblr-1780	768	56	on	on	ADP
cblr-1780	768	57	firm	firm	ADJ
cblr-1780	768	58	value	value	NOUN
cblr-1780	768	59	is	be	AUX
cblr-1780	768	60	likely	likely	ADJ
cblr-1780	768	61	to	to	PART
cblr-1780	768	62	be	be	AUX
cblr-1780	768	63	even	even	ADV
cblr-1780	768	64	less	less	ADJ
cblr-1780	768	65	than	than	ADP
cblr-1780	768	66	that	that	PRON
cblr-1780	768	67	estimated	estimate	VERB
cblr-1780	768	68	above	above	ADV
cblr-1780	768	69	.	.	PUNCT
cblr-1780	769	1	it	it	PRON
cblr-1780	769	2	may	may	AUX
cblr-1780	769	3	be	be	AUX
cblr-1780	769	4	true	true	ADJ
cblr-1780	769	5	,	,	PUNCT
cblr-1780	769	6	as	as	SCONJ
cblr-1780	769	7	bebchuk	bebchuk	NOUN
cblr-1780	769	8	and	and	CCONJ
cblr-1780	769	9	jackson	jackson	PROPN
cblr-1780	769	10	observe	observe	PROPN
cblr-1780	769	11	,	,	PUNCT
cblr-1780	769	12	that	that	SCONJ
cblr-1780	769	13	:	:	PUNCT
cblr-1780	769	14	(	(	PUNCT
cblr-1780	769	15	1	1	X
cblr-1780	769	16	)	)	PUNCT
cblr-1780	769	17	only	only	ADV
cblr-1780	769	18	some	some	DET
cblr-1780	769	19	public	public	ADJ
cblr-1780	769	20	companies	company	NOUN
cblr-1780	769	21	voluntarily	voluntarily	ADV
cblr-1780	769	22	provide	provide	VERB
cblr-1780	769	23	detailed	detailed	ADJ
cblr-1780	769	24	information	information	NOUN
cblr-1780	769	25	about	about	ADP
cblr-1780	769	26	the	the	DET
cblr-1780	769	27	total	total	ADJ
cblr-1780	769	28	amount	amount	NOUN
cblr-1780	769	29	of	of	ADP
cblr-1780	769	30	their	their	PRON
cblr-1780	769	31	political	political	ADJ
cblr-1780	769	32	spending,178	spending,178	NOUN
cblr-1780	769	33	(	(	PUNCT
cblr-1780	769	34	2	2	X
cblr-1780	769	35	)	)	PUNCT
cblr-1780	769	36	much	much	ADJ
cblr-1780	769	37	public	public	ADJ
cblr-1780	769	38	company	company	NOUN
cblr-1780	769	39	political	political	ADJ
cblr-1780	769	40	spending	spending	NOUN
cblr-1780	769	41	is	be	AUX
cblr-1780	769	42	not	not	PART
cblr-1780	769	43	required	require	VERB
cblr-1780	769	44	to	to	PART
cblr-1780	769	45	be	be	AUX
cblr-1780	769	46	disclosed	disclose	VERB
cblr-1780	769	47	in	in	ADP
cblr-1780	769	48	any	any	DET
cblr-1780	769	49	forum,179	forum,179	NOUN
cblr-1780	769	50	and	and	CCONJ
cblr-1780	769	51	(	(	PUNCT
cblr-1780	769	52	3	3	X
cblr-1780	769	53	)	)	PUNCT
cblr-1780	769	54	other	other	ADJ
cblr-1780	769	55	information	information	NOUN
cblr-1780	769	56	about	about	ADP
cblr-1780	769	57	public	public	ADJ
cblr-1780	769	58	company	company	NOUN
cblr-1780	769	59	political	political	ADJ
cblr-1780	769	60	spending	spending	NOUN
cblr-1780	769	61	is	be	AUX
cblr-1780	769	62	not	not	PART
cblr-1780	769	63	readily	readily	ADV
cblr-1780	769	64	accessible.180	accessible.180	ADJ
cblr-1780	769	65	but	but	CCONJ
cblr-1780	769	66	even	even	ADV
cblr-1780	769	67	with	with	ADP
cblr-1780	769	68	this	this	DET
cblr-1780	769	69	limited	limited	ADJ
cblr-1780	769	70	information	information	NOUN
cblr-1780	769	71	,	,	PUNCT
cblr-1780	769	72	the	the	DET
cblr-1780	769	73	evidence	evidence	NOUN
cblr-1780	769	74	shows	show	VERB
cblr-1780	769	75	that	that	SCONJ
cblr-1780	769	76	the	the	DET
cblr-1780	769	77	magnitude	magnitude	NOUN
cblr-1780	769	78	of	of	ADP
cblr-1780	769	79	political	political	ADJ
cblr-1780	769	80	spending	spending	NOUN
cblr-1780	769	81	must	must	AUX
cblr-1780	769	82	be	be	AUX
cblr-1780	769	83	trivial	trivial	ADJ
cblr-1780	769	84	from	from	ADP
cblr-1780	769	85	the	the	DET
cblr-1780	769	86	perspective	perspective	NOUN
cblr-1780	769	87	of	of	ADP
cblr-1780	769	88	total	total	ADJ
cblr-1780	769	89	firm	firm	ADJ
cblr-1780	769	90	value	value	NOUN
cblr-1780	769	91	for	for	ADP
cblr-1780	769	92	most	most	ADJ
cblr-1780	769	93	,	,	PUNCT
cblr-1780	769	94	if	if	SCONJ
cblr-1780	769	95	not	not	PART
cblr-1780	769	96	all	all	PRON
cblr-1780	769	97	,	,	PUNCT
cblr-1780	769	98	public	public	ADJ
cblr-1780	769	99	firms	firm	NOUN
cblr-1780	769	100	.	.	PUNCT
cblr-1780	770	1	therefore	therefore	ADV
cblr-1780	770	2	,	,	PUNCT
cblr-1780	770	3	its	its	PRON
cblr-1780	770	4	non	non	NOUN
cblr-1780	770	5	-	-	NOUN
cblr-1780	770	6	disclosure	disclosure	NOUN
cblr-1780	770	7	by	by	ADP
cblr-1780	770	8	many	many	ADJ
cblr-1780	770	9	public	public	ADJ
cblr-1780	770	10	firms	firm	NOUN
cblr-1780	770	11	does	do	AUX
cblr-1780	770	12	not	not	PART
cblr-1780	770	13	appear	appear	VERB
cblr-1780	770	14	to	to	PART
cblr-1780	770	15	be	be	AUX
cblr-1780	770	16	the	the	DET
cblr-1780	770	17	result	result	NOUN
cblr-1780	770	18	of	of	ADP
cblr-1780	770	19	176	176	NUM
cblr-1780	770	20	an	an	DET
cblr-1780	770	21	argument	argument	NOUN
cblr-1780	770	22	might	might	AUX
cblr-1780	770	23	be	be	AUX
cblr-1780	770	24	made	make	VERB
cblr-1780	770	25	that	that	SCONJ
cblr-1780	770	26	the	the	DET
cblr-1780	770	27	amounts	amount	NOUN
cblr-1780	770	28	that	that	SCONJ
cblr-1780	770	29	corporations	corporation	NOUN
cblr-1780	770	30	spent	spend	VERB
cblr-1780	770	31	on	on	ADP
cblr-1780	770	32	lobbying	lobbying	NOUN
cblr-1780	770	33	provide	provide	VERB
cblr-1780	770	34	a	a	DET
cblr-1780	770	35	better	well	ADJ
cblr-1780	770	36	measure	measure	NOUN
cblr-1780	770	37	of	of	ADP
cblr-1780	770	38	the	the	DET
cblr-1780	770	39	influence	influence	NOUN
cblr-1780	770	40	of	of	ADP
cblr-1780	770	41	corporations	corporation	NOUN
cblr-1780	770	42	in	in	ADP
cblr-1780	770	43	politics	politic	NOUN
cblr-1780	770	44	,	,	PUNCT
cblr-1780	770	45	and	and	CCONJ
cblr-1780	770	46	that	that	SCONJ
cblr-1780	770	47	these	these	DET
cblr-1780	770	48	amounts	amount	NOUN
cblr-1780	770	49	are	be	AUX
cblr-1780	770	50	substantially	substantially	ADV
cblr-1780	770	51	larger	large	ADJ
cblr-1780	770	52	than	than	ADP
cblr-1780	770	53	the	the	DET
cblr-1780	770	54	amounts	amount	NOUN
cblr-1780	770	55	contributed	contribute	VERB
cblr-1780	770	56	to	to	ADP
cblr-1780	770	57	federal	federal	ADJ
cblr-1780	770	58	political	political	ADJ
cblr-1780	770	59	campaigns	campaign	NOUN
cblr-1780	770	60	.	.	PUNCT
cblr-1780	771	1	bonica	bonica	NOUN
cblr-1780	771	2	,	,	PUNCT
cblr-1780	771	3	for	for	ADP
cblr-1780	771	4	example	example	NOUN
cblr-1780	771	5	,	,	PUNCT
cblr-1780	771	6	reports	report	VERB
cblr-1780	771	7	that	that	SCONJ
cblr-1780	771	8	corporations	corporation	NOUN
cblr-1780	771	9	spent	spend	VERB
cblr-1780	771	10	over	over	ADP
cblr-1780	771	11	$	$	SYM
cblr-1780	771	12	5	5	NUM
cblr-1780	771	13	billion	billion	NUM
cblr-1780	771	14	on	on	ADP
cblr-1780	771	15	lobbying	lobby	VERB
cblr-1780	771	16	in	in	ADP
cblr-1780	771	17	2010	2010	NUM
cblr-1780	771	18	.	.	PUNCT
cblr-1780	772	1	bonica	bonica	NOUN
cblr-1780	772	2	,	,	PUNCT
cblr-1780	772	3	supra	supra	PROPN
cblr-1780	772	4	note	note	PROPN
cblr-1780	772	5	168	168	NUM
cblr-1780	772	6	,	,	PUNCT
cblr-1780	772	7	at	at	ADP
cblr-1780	772	8	8	8	NUM
cblr-1780	772	9	.	.	PUNCT
cblr-1780	773	1	however	however	ADV
cblr-1780	773	2	,	,	PUNCT
cblr-1780	773	3	even	even	ADV
cblr-1780	773	4	if	if	SCONJ
cblr-1780	773	5	we	we	PRON
cblr-1780	773	6	consider	consider	VERB
cblr-1780	773	7	the	the	DET
cblr-1780	773	8	amount	amount	NOUN
cblr-1780	773	9	spent	spend	VERB
cblr-1780	773	10	on	on	ADP
cblr-1780	773	11	lobbying	lobby	VERB
cblr-1780	773	12	relative	relative	ADJ
cblr-1780	773	13	to	to	ADP
cblr-1780	773	14	public	public	ADJ
cblr-1780	773	15	firm	firm	ADJ
cblr-1780	773	16	market	market	NOUN
cblr-1780	773	17	capitalization	capitalization	NOUN
cblr-1780	773	18	,	,	PUNCT
cblr-1780	773	19	the	the	DET
cblr-1780	773	20	amounts	amount	NOUN
cblr-1780	773	21	involved	involve	VERB
cblr-1780	773	22	are	be	AUX
cblr-1780	773	23	still	still	ADV
cblr-1780	773	24	relatively	relatively	ADV
cblr-1780	773	25	trivial	trivial	ADJ
cblr-1780	773	26	(	(	PUNCT
cblr-1780	773	27	less	less	ADJ
cblr-1780	773	28	than	than	ADP
cblr-1780	773	29	three	three	NUM
cblr-1780	773	30	-	-	PUNCT
cblr-1780	773	31	one	one	NUM
cblr-1780	773	32	hundredths	hundredth	NOUN
cblr-1780	773	33	of	of	ADP
cblr-1780	773	34	a	a	DET
cblr-1780	773	35	percentage	percentage	NOUN
cblr-1780	773	36	point	point	NOUN
cblr-1780	773	37	(	(	PUNCT
cblr-1780	773	38	0.03	0.03	NUM
cblr-1780	773	39	%	%	NOUN
cblr-1780	773	40	)	)	PUNCT
cblr-1780	773	41	)	)	PUNCT
cblr-1780	773	42	.	.	PUNCT
cblr-1780	774	1	the	the	DET
cblr-1780	774	2	relatively	relatively	ADV
cblr-1780	774	3	small	small	ADJ
cblr-1780	774	4	magnitude	magnitude	NOUN
cblr-1780	774	5	of	of	ADP
cblr-1780	774	6	political	political	ADJ
cblr-1780	774	7	spending	spending	NOUN
cblr-1780	774	8	when	when	SCONJ
cblr-1780	774	9	compared	compare	VERB
cblr-1780	774	10	to	to	ADP
cblr-1780	774	11	private	private	ADJ
cblr-1780	774	12	sector	sector	NOUN
cblr-1780	774	13	economic	economic	ADJ
cblr-1780	774	14	activity	activity	NOUN
cblr-1780	774	15	generally	generally	ADV
cblr-1780	774	16	in	in	ADP
cblr-1780	774	17	the	the	DET
cblr-1780	774	18	united	united	PROPN
cblr-1780	774	19	states	states	PROPN
cblr-1780	774	20	prompted	prompt	VERB
cblr-1780	774	21	one	one	NUM
cblr-1780	774	22	group	group	NOUN
cblr-1780	774	23	of	of	ADP
cblr-1780	774	24	scholars	scholar	NOUN
cblr-1780	774	25	to	to	PART
cblr-1780	774	26	write	write	VERB
cblr-1780	774	27	an	an	DET
cblr-1780	774	28	article	article	NOUN
cblr-1780	774	29	asking	ask	VERB
cblr-1780	774	30	why	why	SCONJ
cblr-1780	774	31	there	there	PRON
cblr-1780	774	32	is	be	VERB
cblr-1780	774	33	so	so	ADV
cblr-1780	774	34	little	little	ADJ
cblr-1780	774	35	political	political	ADJ
cblr-1780	774	36	spending	spending	NOUN
cblr-1780	774	37	in	in	ADP
cblr-1780	774	38	the	the	DET
cblr-1780	774	39	united	united	PROPN
cblr-1780	774	40	states	states	PROPN
cblr-1780	774	41	.	.	PUNCT
cblr-1780	775	1	stephen	stephen	PROPN
cblr-1780	775	2	ansolabehere	ansolabehere	PROPN
cblr-1780	775	3	,	,	PUNCT
cblr-1780	775	4	john	john	PROPN
cblr-1780	775	5	m.	m.	PROPN
cblr-1780	775	6	de	de	PROPN
cblr-1780	775	7	figueiredo	figueiredo	PROPN
cblr-1780	775	8	&	&	CCONJ
cblr-1780	775	9	james	james	PROPN
cblr-1780	775	10	m.	m.	PROPN
cblr-1780	775	11	snyder	snyder	PROPN
cblr-1780	775	12	,	,	PUNCT
cblr-1780	775	13	jr	jr	PROPN
cblr-1780	775	14	.	.	PROPN
cblr-1780	775	15	,	,	PUNCT
cblr-1780	775	16	why	why	SCONJ
cblr-1780	775	17	is	be	AUX
cblr-1780	775	18	there	there	PRON
cblr-1780	775	19	so	so	ADV
cblr-1780	775	20	little	little	ADJ
cblr-1780	775	21	money	money	NOUN
cblr-1780	775	22	in	in	ADP
cblr-1780	775	23	u.s	u.s	PROPN
cblr-1780	775	24	.	.	PROPN
cblr-1780	775	25	politics	politic	NOUN
cblr-1780	775	26	?	?	PUNCT
cblr-1780	775	27	,	,	PUNCT
cblr-1780	775	28	17	17	NUM
cblr-1780	775	29	j.	j.	PROPN
cblr-1780	775	30	econ	econ	PROPN
cblr-1780	775	31	.	.	PUNCT
cblr-1780	776	1	persp	persp	PROPN
cblr-1780	776	2	.	.	PUNCT
cblr-1780	777	1	105	105	NUM
cblr-1780	777	2	(	(	PUNCT
cblr-1780	777	3	2003	2003	NUM
cblr-1780	777	4	)	)	PUNCT
cblr-1780	777	5	.	.	PUNCT
cblr-1780	778	1	bonica	bonica	NOUN
cblr-1780	778	2	,	,	PUNCT
cblr-1780	778	3	supra	supra	PROPN
cblr-1780	778	4	note	note	PROPN
cblr-1780	778	5	168	168	NUM
cblr-1780	778	6	,	,	PUNCT
cblr-1780	778	7	at	at	ADP
cblr-1780	778	8	2	2	NUM
cblr-1780	778	9	,	,	PUNCT
cblr-1780	778	10	reaches	reach	VERB
cblr-1780	778	11	a	a	DET
cblr-1780	778	12	similar	similar	ADJ
cblr-1780	778	13	conclusion	conclusion	NOUN
cblr-1780	778	14	.	.	PUNCT
cblr-1780	779	1	177	177	NUM
cblr-1780	779	2	aggarwal	aggarwal	NOUN
cblr-1780	779	3	et	et	NOUN
cblr-1780	779	4	al	al	PROPN
cblr-1780	779	5	.	.	PROPN
cblr-1780	779	6	,	,	PUNCT
cblr-1780	779	7	supra	supra	PROPN
cblr-1780	779	8	note	note	PROPN
cblr-1780	779	9	16	16	NUM
cblr-1780	779	10	,	,	PUNCT
cblr-1780	779	11	at	at	ADP
cblr-1780	779	12	12–13	12–13	NUM
cblr-1780	779	13	.	.	NOUN
cblr-1780	779	14	178	178	NUM
cblr-1780	779	15	bebchuk	bebchuk	PROPN
cblr-1780	779	16	&	&	CCONJ
cblr-1780	779	17	jackson	jackson	PROPN
cblr-1780	779	18	,	,	PUNCT
cblr-1780	779	19	shining	shine	VERB
cblr-1780	779	20	light	light	NOUN
cblr-1780	779	21	,	,	PUNCT
cblr-1780	779	22	supra	supra	PROPN
cblr-1780	779	23	note	note	NOUN
cblr-1780	779	24	27	27	NUM
cblr-1780	779	25	,	,	PUNCT
cblr-1780	779	26	at	at	ADP
cblr-1780	779	27	934	934	NUM
cblr-1780	779	28	.	.	PUNCT
cblr-1780	779	29	179	179	NUM
cblr-1780	780	1	i	i	PRON
cblr-1780	780	2	d.	d.	NOUN
cblr-1780	780	3	at	at	ADP
cblr-1780	780	4	934–35	934–35	NUM
cblr-1780	780	5	(	(	PUNCT
cblr-1780	780	6	reviewing	review	VERB
cblr-1780	780	7	the	the	DET
cblr-1780	780	8	amount	amount	NOUN
cblr-1780	780	9	of	of	ADP
cblr-1780	780	10	contributions	contribution	NOUN
cblr-1780	780	11	made	make	VERB
cblr-1780	780	12	to	to	ADP
cblr-1780	780	13	political	political	ADJ
cblr-1780	780	14	intermediaries	intermediary	NOUN
cblr-1780	780	15	that	that	PRON
cblr-1780	780	16	have	have	AUX
cblr-1780	780	17	voluntarily	voluntarily	ADV
cblr-1780	780	18	chosen	choose	VERB
cblr-1780	780	19	to	to	PART
cblr-1780	780	20	disclose	disclose	VERB
cblr-1780	780	21	these	these	DET
cblr-1780	780	22	contributions	contribution	NOUN
cblr-1780	780	23	)	)	PUNCT
cblr-1780	780	24	.	.	PUNCT
cblr-1780	781	1	see	see	VERB
cblr-1780	781	2	also	also	ADV
cblr-1780	781	3	coates	coate	NOUN
cblr-1780	781	4	,	,	PUNCT
cblr-1780	781	5	supra	supra	PROPN
cblr-1780	781	6	note	note	NOUN
cblr-1780	781	7	24	24	NUM
cblr-1780	781	8	,	,	PUNCT
cblr-1780	781	9	at	at	ADP
cblr-1780	781	10	661–63	661–63	NOUN
cblr-1780	781	11	.	.	PUNCT
cblr-1780	782	1	180	180	NUM
cblr-1780	782	2	bebchuk	bebchuk	PROPN
cblr-1780	782	3	&	&	CCONJ
cblr-1780	782	4	jackson	jackson	PROPN
cblr-1780	782	5	,	,	PUNCT
cblr-1780	782	6	shining	shine	VERB
cblr-1780	782	7	light	light	NOUN
cblr-1780	782	8	,	,	PUNCT
cblr-1780	782	9	supra	supra	PROPN
cblr-1780	782	10	note	note	NOUN
cblr-1780	782	11	27	27	NUM
cblr-1780	782	12	,	,	PUNCT
cblr-1780	782	13	at	at	ADP
cblr-1780	782	14	935–36	935–36	NUM
cblr-1780	782	15	.	.	PUNCT
cblr-1780	782	16	guttentag	guttentag	NOUN
cblr-1780	782	17	–	–	PUNCT
cblr-1780	782	18	final	final	ADJ
cblr-1780	782	19	no	no	NOUN
cblr-1780	782	20	.	.	PUNCT
cblr-1780	783	1	3:593	3:593	NUM
cblr-1780	783	2	]	]	PUNCT
cblr-1780	783	3	on	on	ADP
cblr-1780	783	4	political	political	ADJ
cblr-1780	783	5	spending	spending	NOUN
cblr-1780	783	6	disclosure	disclosure	NOUN
cblr-1780	783	7	649	649	NUM
cblr-1780	783	8	distortions	distortion	NOUN
cblr-1780	783	9	in	in	ADP
cblr-1780	783	10	disclosure	disclosure	NOUN
cblr-1780	783	11	policies	policy	NOUN
cblr-1780	783	12	caused	cause	VERB
cblr-1780	783	13	by	by	ADP
cblr-1780	783	14	positive	positive	ADJ
cblr-1780	783	15	externalities	externality	NOUN
cblr-1780	783	16	.	.	PUNCT
cblr-1780	784	1	however	however	ADV
cblr-1780	784	2	,	,	PUNCT
cblr-1780	784	3	there	there	PRON
cblr-1780	784	4	is	be	VERB
cblr-1780	784	5	one	one	NUM
cblr-1780	784	6	caveat	caveat	NOUN
cblr-1780	784	7	before	before	ADP
cblr-1780	784	8	concluding	conclude	VERB
cblr-1780	784	9	that	that	SCONJ
cblr-1780	784	10	the	the	DET
cblr-1780	784	11	disclosure	disclosure	NOUN
cblr-1780	784	12	of	of	ADP
cblr-1780	784	13	political	political	ADJ
cblr-1780	784	14	spending	spending	NOUN
cblr-1780	784	15	is	be	AUX
cblr-1780	784	16	not	not	PART
cblr-1780	784	17	a	a	DET
cblr-1780	784	18	plausible	plausible	ADJ
cblr-1780	784	19	candidate	candidate	NOUN
cblr-1780	784	20	for	for	ADP
cblr-1780	784	21	concerns	concern	NOUN
cblr-1780	784	22	about	about	ADP
cblr-1780	784	23	distortions	distortion	NOUN
cblr-1780	784	24	caused	cause	VERB
cblr-1780	784	25	by	by	ADP
cblr-1780	784	26	positive	positive	ADJ
cblr-1780	784	27	externalities	externality	NOUN
cblr-1780	784	28	.	.	PUNCT
cblr-1780	785	1	even	even	ADV
cblr-1780	785	2	though	though	SCONJ
cblr-1780	785	3	the	the	DET
cblr-1780	785	4	dollar	dollar	NOUN
cblr-1780	785	5	amounts	amount	NOUN
cblr-1780	785	6	involved	involve	VERB
cblr-1780	785	7	in	in	ADP
cblr-1780	785	8	political	political	ADJ
cblr-1780	785	9	spending	spending	NOUN
cblr-1780	785	10	are	be	AUX
cblr-1780	785	11	small	small	ADJ
cblr-1780	785	12	,	,	PUNCT
cblr-1780	785	13	political	political	ADJ
cblr-1780	785	14	spending	spending	NOUN
cblr-1780	785	15	information	information	NOUN
cblr-1780	785	16	does	do	AUX
cblr-1780	785	17	appear	appear	VERB
cblr-1780	785	18	to	to	PART
cblr-1780	785	19	provide	provide	VERB
cblr-1780	785	20	valuable	valuable	ADJ
cblr-1780	785	21	information	information	NOUN
cblr-1780	785	22	about	about	ADP
cblr-1780	785	23	the	the	DET
cblr-1780	785	24	future	future	ADJ
cblr-1780	785	25	performance	performance	NOUN
cblr-1780	785	26	of	of	ADP
cblr-1780	785	27	the	the	DET
cblr-1780	785	28	firm	firm	NOUN
cblr-1780	785	29	’s	’s	PART
cblr-1780	785	30	securities	security	NOUN
cblr-1780	785	31	.	.	PUNCT
cblr-1780	786	1	aggarwal	aggarwal	NOUN
cblr-1780	786	2	et	et	PROPN
cblr-1780	786	3	al	al	PROPN
cblr-1780	786	4	.	.	PROPN
cblr-1780	787	1	study	study	VERB
cblr-1780	787	2	the	the	DET
cblr-1780	787	3	stock	stock	NOUN
cblr-1780	787	4	returns	return	NOUN
cblr-1780	787	5	of	of	ADP
cblr-1780	787	6	firms	firm	NOUN
cblr-1780	787	7	for	for	ADP
cblr-1780	787	8	which	which	PRON
cblr-1780	787	9	political	political	ADJ
cblr-1780	787	10	spending	spending	NOUN
cblr-1780	787	11	information	information	NOUN
cblr-1780	787	12	is	be	AUX
cblr-1780	787	13	publicly	publicly	ADV
cblr-1780	787	14	available	available	ADJ
cblr-1780	787	15	during	during	ADP
cblr-1780	787	16	the	the	DET
cblr-1780	787	17	period	period	NOUN
cblr-1780	787	18	from	from	ADP
cblr-1780	787	19	1991	1991	NUM
cblr-1780	787	20	to	to	ADP
cblr-1780	787	21	2004	2004	NUM
cblr-1780	787	22	,	,	PUNCT
cblr-1780	787	23	and	and	CCONJ
cblr-1780	787	24	find	find	VERB
cblr-1780	787	25	that	that	SCONJ
cblr-1780	787	26	higher	high	ADJ
cblr-1780	787	27	levels	level	NOUN
cblr-1780	787	28	of	of	ADP
cblr-1780	787	29	political	political	ADJ
cblr-1780	787	30	spending	spending	NOUN
cblr-1780	787	31	are	be	AUX
cblr-1780	787	32	associated	associate	VERB
cblr-1780	787	33	with	with	ADP
cblr-1780	787	34	negative	negative	ADJ
cblr-1780	787	35	future	future	ADJ
cblr-1780	787	36	stock	stock	NOUN
cblr-1780	787	37	returns.181	returns.181	NOUN
cblr-1780	787	38	this	this	DET
cblr-1780	787	39	finding	finding	NOUN
cblr-1780	787	40	might	might	AUX
cblr-1780	787	41	be	be	AUX
cblr-1780	787	42	interpreted	interpret	VERB
cblr-1780	787	43	as	as	ADP
cblr-1780	787	44	providing	provide	VERB
cblr-1780	787	45	a	a	DET
cblr-1780	787	46	justification	justification	NOUN
cblr-1780	787	47	for	for	ADP
cblr-1780	787	48	requiring	require	VERB
cblr-1780	787	49	the	the	DET
cblr-1780	787	50	disclosure	disclosure	NOUN
cblr-1780	787	51	of	of	ADP
cblr-1780	787	52	political	political	ADJ
cblr-1780	787	53	spending	spending	NOUN
cblr-1780	787	54	,	,	PUNCT
cblr-1780	787	55	because	because	SCONJ
cblr-1780	787	56	this	this	DET
cblr-1780	787	57	finding	finding	NOUN
cblr-1780	787	58	might	might	AUX
cblr-1780	787	59	suggest	suggest	VERB
cblr-1780	787	60	that	that	SCONJ
cblr-1780	787	61	political	political	ADJ
cblr-1780	787	62	spending	spending	NOUN
cblr-1780	787	63	is	be	AUX
cblr-1780	787	64	the	the	DET
cblr-1780	787	65	type	type	NOUN
cblr-1780	787	66	of	of	ADP
cblr-1780	787	67	information	information	NOUN
cblr-1780	787	68	firms	firm	NOUN
cblr-1780	787	69	would	would	AUX
cblr-1780	787	70	choose	choose	VERB
cblr-1780	787	71	to	to	PART
cblr-1780	787	72	disclose	disclose	VERB
cblr-1780	787	73	,	,	PUNCT
cblr-1780	787	74	but	but	CCONJ
cblr-1780	787	75	for	for	ADP
cblr-1780	787	76	the	the	DET
cblr-1780	787	77	effects	effect	NOUN
cblr-1780	787	78	of	of	ADP
cblr-1780	787	79	a	a	DET
cblr-1780	787	80	market	market	NOUN
cblr-1780	787	81	failure	failure	NOUN
cblr-1780	787	82	.	.	PUNCT
cblr-1780	788	1	but	but	CCONJ
cblr-1780	788	2	a	a	DET
cblr-1780	788	3	deeper	deep	ADJ
cblr-1780	788	4	analysis	analysis	NOUN
cblr-1780	788	5	of	of	ADP
cblr-1780	788	6	the	the	DET
cblr-1780	788	7	link	link	NOUN
cblr-1780	788	8	between	between	ADP
cblr-1780	788	9	the	the	DET
cblr-1780	788	10	valuerelevance	valuerelevance	NOUN
cblr-1780	788	11	of	of	ADP
cblr-1780	788	12	political	political	ADJ
cblr-1780	788	13	spending	spending	NOUN
cblr-1780	788	14	uncovered	uncover	VERB
cblr-1780	788	15	by	by	ADP
cblr-1780	788	16	aggarwal	aggarwal	PROPN
cblr-1780	788	17	et	et	PROPN
cblr-1780	788	18	al	al	PROPN
cblr-1780	788	19	.	.	PROPN
cblr-1780	788	20	and	and	CCONJ
cblr-1780	788	21	the	the	DET
cblr-1780	788	22	justifications	justification	NOUN
cblr-1780	788	23	for	for	ADP
cblr-1780	788	24	mandatory	mandatory	ADJ
cblr-1780	788	25	disclosure	disclosure	NOUN
cblr-1780	788	26	requirements	requirement	NOUN
cblr-1780	788	27	is	be	AUX
cblr-1780	788	28	necessary	necessary	ADJ
cblr-1780	788	29	to	to	PART
cblr-1780	788	30	fully	fully	ADV
cblr-1780	788	31	understand	understand	VERB
cblr-1780	788	32	the	the	DET
cblr-1780	788	33	relevance	relevance	NOUN
cblr-1780	788	34	of	of	ADP
cblr-1780	788	35	findings	finding	NOUN
cblr-1780	788	36	such	such	ADJ
cblr-1780	788	37	as	as	ADP
cblr-1780	788	38	those	those	PRON
cblr-1780	788	39	by	by	ADP
cblr-1780	788	40	aggarwal	aggarwal	PROPN
cblr-1780	788	41	et	et	PROPN
cblr-1780	788	42	al	al	PROPN
cblr-1780	788	43	.	.	PROPN
cblr-1780	789	1	to	to	ADP
cblr-1780	789	2	the	the	DET
cblr-1780	789	3	debate	debate	NOUN
cblr-1780	789	4	on	on	ADP
cblr-1780	789	5	the	the	DET
cblr-1780	789	6	mandatory	mandatory	ADJ
cblr-1780	789	7	disclosure	disclosure	NOUN
cblr-1780	789	8	of	of	ADP
cblr-1780	789	9	political	political	ADJ
cblr-1780	789	10	spending	spending	NOUN
cblr-1780	789	11	.	.	PUNCT
cblr-1780	790	1	how	how	SCONJ
cblr-1780	790	2	can	can	AUX
cblr-1780	790	3	the	the	DET
cblr-1780	790	4	amounts	amount	NOUN
cblr-1780	790	5	involved	involve	VERB
cblr-1780	790	6	in	in	ADP
cblr-1780	790	7	political	political	ADJ
cblr-1780	790	8	spending	spending	NOUN
cblr-1780	790	9	be	be	VERB
cblr-1780	790	10	so	so	ADV
cblr-1780	790	11	trivial	trivial	ADJ
cblr-1780	790	12	from	from	ADP
cblr-1780	790	13	the	the	DET
cblr-1780	790	14	perspective	perspective	NOUN
cblr-1780	790	15	of	of	ADP
cblr-1780	790	16	total	total	ADJ
cblr-1780	790	17	firm	firm	ADJ
cblr-1780	790	18	value	value	NOUN
cblr-1780	790	19	,	,	PUNCT
cblr-1780	790	20	and	and	CCONJ
cblr-1780	790	21	yet	yet	ADV
cblr-1780	790	22	provide	provide	VERB
cblr-1780	790	23	investors	investor	NOUN
cblr-1780	790	24	useful	useful	ADJ
cblr-1780	790	25	information	information	NOUN
cblr-1780	790	26	about	about	ADP
cblr-1780	790	27	future	future	ADJ
cblr-1780	790	28	stock	stock	NOUN
cblr-1780	790	29	performance	performance	NOUN
cblr-1780	790	30	?	?	PUNCT
cblr-1780	791	1	the	the	DET
cblr-1780	791	2	answer	answer	NOUN
cblr-1780	791	3	to	to	ADP
cblr-1780	791	4	this	this	DET
cblr-1780	791	5	puzzle	puzzle	NOUN
cblr-1780	791	6	is	be	AUX
cblr-1780	791	7	that	that	SCONJ
cblr-1780	791	8	these	these	DET
cblr-1780	791	9	expenditures	expenditure	NOUN
cblr-1780	791	10	,	,	PUNCT
cblr-1780	791	11	although	although	SCONJ
cblr-1780	791	12	trivially	trivially	ADV
cblr-1780	791	13	small	small	ADJ
cblr-1780	791	14	,	,	PUNCT
cblr-1780	791	15	must	must	AUX
cblr-1780	791	16	provide	provide	VERB
cblr-1780	791	17	an	an	DET
cblr-1780	791	18	informative	informative	ADJ
cblr-1780	791	19	signal	signal	NOUN
cblr-1780	791	20	about	about	ADP
cblr-1780	791	21	some	some	DET
cblr-1780	791	22	other	other	ADJ
cblr-1780	791	23	otherwise	otherwise	ADV
cblr-1780	791	24	unobservable	unobservable	ADJ
cblr-1780	791	25	firm	firm	NOUN
cblr-1780	791	26	attributes	attribute	NOUN
cblr-1780	791	27	that	that	PRON
cblr-1780	791	28	do	do	AUX
cblr-1780	791	29	affect	affect	VERB
cblr-1780	791	30	future	future	ADJ
cblr-1780	791	31	firm	firm	ADJ
cblr-1780	791	32	value	value	NOUN
cblr-1780	791	33	.	.	PUNCT
cblr-1780	792	1	181	181	NUM
cblr-1780	792	2	aggarwal	aggarwal	NOUN
cblr-1780	792	3	et	et	NOUN
cblr-1780	792	4	al	al	PROPN
cblr-1780	792	5	.	.	PROPN
cblr-1780	792	6	,	,	PUNCT
cblr-1780	792	7	supra	supra	PROPN
cblr-1780	792	8	note	note	VERB
cblr-1780	792	9	16	16	NUM
cblr-1780	792	10	.	.	PUNCT
cblr-1780	793	1	more	more	ADV
cblr-1780	793	2	specifically	specifically	ADV
cblr-1780	793	3	,	,	PUNCT
cblr-1780	793	4	the	the	DET
cblr-1780	793	5	aggarwal	aggarwal	NOUN
cblr-1780	793	6	et	et	PROPN
cblr-1780	793	7	al	al	PROPN
cblr-1780	793	8	.	.	PROPN
cblr-1780	793	9	study	study	PROPN
cblr-1780	793	10	analyzes	analyze	VERB
cblr-1780	793	11	the	the	DET
cblr-1780	793	12	relationships	relationship	NOUN
cblr-1780	793	13	between	between	ADP
cblr-1780	793	14	future	future	ADJ
cblr-1780	793	15	stock	stock	NOUN
cblr-1780	793	16	returns	return	NOUN
cblr-1780	793	17	and	and	CCONJ
cblr-1780	793	18	public	public	ADJ
cblr-1780	793	19	company	company	NOUN
cblr-1780	793	20	political	political	ADJ
cblr-1780	793	21	donations	donation	NOUN
cblr-1780	793	22	made	make	VERB
cblr-1780	793	23	in	in	ADP
cblr-1780	793	24	the	the	DET
cblr-1780	793	25	form	form	NOUN
cblr-1780	793	26	of	of	ADP
cblr-1780	793	27	soft	soft	ADJ
cblr-1780	793	28	money	money	NOUN
cblr-1780	793	29	contributions	contribution	NOUN
cblr-1780	793	30	and	and	CCONJ
cblr-1780	793	31	527	527	NUM
cblr-1780	793	32	committee	committee	NOUN
cblr-1780	793	33	donations	donation	NOUN
cblr-1780	793	34	.	.	PUNCT
cblr-1780	794	1	i	i	PRON
cblr-1780	794	2	d.	d.	PROPN
cblr-1780	794	3	at	at	ADP
cblr-1780	794	4	6	6	NUM
cblr-1780	794	5	.	.	PUNCT
cblr-1780	794	6	aggarwal	aggarwal	NOUN
cblr-1780	794	7	et	et	PROPN
cblr-1780	794	8	al	al	PROPN
cblr-1780	794	9	.	.	PROPN
cblr-1780	794	10	also	also	ADV
cblr-1780	794	11	find	find	VERB
cblr-1780	794	12	that	that	SCONJ
cblr-1780	794	13	in	in	ADP
cblr-1780	794	14	a	a	DET
cblr-1780	794	15	regression	regression	NOUN
cblr-1780	794	16	that	that	PRON
cblr-1780	794	17	controls	control	VERB
cblr-1780	794	18	for	for	ADP
cblr-1780	794	19	other	other	ADJ
cblr-1780	794	20	publicly	publicly	ADV
cblr-1780	794	21	available	available	ADJ
cblr-1780	794	22	information	information	NOUN
cblr-1780	794	23	about	about	ADP
cblr-1780	794	24	corporate	corporate	ADJ
cblr-1780	794	25	governance	governance	NOUN
cblr-1780	794	26	,	,	PUNCT
cblr-1780	794	27	the	the	DET
cblr-1780	794	28	“	"	PUNCT
cblr-1780	794	29	negative	negative	ADJ
cblr-1780	794	30	relation	relation	NOUN
cblr-1780	794	31	between	between	ADP
cblr-1780	794	32	donations	donation	NOUN
cblr-1780	794	33	and	and	CCONJ
cblr-1780	794	34	returns	return	NOUN
cblr-1780	794	35	is	be	AUX
cblr-1780	794	36	exacerbated	exacerbate	VERB
cblr-1780	794	37	.	.	PUNCT
cblr-1780	794	38	”	"	PUNCT
cblr-1780	795	1	i	i	PRON
cblr-1780	795	2	d.	d.	PROPN
cblr-1780	795	3	at	at	ADP
cblr-1780	795	4	25	25	NUM
cblr-1780	795	5	.	.	PUNCT
cblr-1780	796	1	guttentag	guttentag	NOUN
cblr-1780	796	2	–	–	PUNCT
cblr-1780	796	3	final	final	ADJ
cblr-1780	796	4	650	650	NUM
cblr-1780	796	5	columbia	columbia	PROPN
cblr-1780	796	6	business	business	NOUN
cblr-1780	796	7	law	law	PROPN
cblr-1780	796	8	review	review	NOUN
cblr-1780	797	1	[	[	X
cblr-1780	797	2	vol	vol	NOUN
cblr-1780	797	3	.	.	PUNCT
cblr-1780	797	4	2014	2014	NUM
cblr-1780	798	1	the	the	DET
cblr-1780	798	2	magnitude	magnitude	NOUN
cblr-1780	798	3	of	of	ADP
cblr-1780	798	4	the	the	DET
cblr-1780	798	5	decline	decline	NOUN
cblr-1780	798	6	in	in	ADP
cblr-1780	798	7	firm	firm	ADJ
cblr-1780	798	8	value	value	NOUN
cblr-1780	798	9	associated	associate	VERB
cblr-1780	798	10	with	with	ADP
cblr-1780	798	11	political	political	ADJ
cblr-1780	798	12	spending	spending	NOUN
cblr-1780	798	13	reported	report	VERB
cblr-1780	798	14	by	by	ADP
cblr-1780	798	15	aggarwal	aggarwal	PROPN
cblr-1780	798	16	et	et	PROPN
cblr-1780	798	17	al	al	PROPN
cblr-1780	798	18	.	.	PROPN
cblr-1780	798	19	reveals	reveal	VERB
cblr-1780	798	20	that	that	SCONJ
cblr-1780	798	21	political	political	ADJ
cblr-1780	798	22	spending	spending	NOUN
cblr-1780	798	23	provides	provide	VERB
cblr-1780	798	24	an	an	DET
cblr-1780	798	25	informative	informative	ADJ
cblr-1780	798	26	signal	signal	NOUN
cblr-1780	798	27	,	,	PUNCT
cblr-1780	798	28	rather	rather	ADV
cblr-1780	798	29	than	than	ADP
cblr-1780	798	30	directly	directly	ADV
cblr-1780	798	31	causing	cause	VERB
cblr-1780	798	32	,	,	PUNCT
cblr-1780	798	33	future	future	ADJ
cblr-1780	798	34	declines	decline	NOUN
cblr-1780	798	35	in	in	ADP
cblr-1780	798	36	firm	firm	ADJ
cblr-1780	798	37	value.182	value.182	PROPN
cblr-1780	798	38	aggarwal	aggarwal	NOUN
cblr-1780	798	39	et	et	NOUN
cblr-1780	798	40	al	al	PROPN
cblr-1780	798	41	.	.	PROPN
cblr-1780	799	1	report	report	VERB
cblr-1780	799	2	that	that	SCONJ
cblr-1780	799	3	for	for	ADP
cblr-1780	799	4	the	the	DET
cblr-1780	799	5	median	median	ADJ
cblr-1780	799	6	firm	firm	NOUN
cblr-1780	799	7	making	make	VERB
cblr-1780	799	8	a	a	DET
cblr-1780	799	9	political	political	ADJ
cblr-1780	799	10	contribution	contribution	NOUN
cblr-1780	799	11	in	in	ADP
cblr-1780	799	12	their	their	PRON
cblr-1780	799	13	sample	sample	NOUN
cblr-1780	799	14	,	,	PUNCT
cblr-1780	799	15	a	a	DET
cblr-1780	799	16	$	$	SYM
cblr-1780	799	17	10,000	10,000	NUM
cblr-1780	799	18	political	political	ADJ
cblr-1780	799	19	contribution	contribution	NOUN
cblr-1780	799	20	is	be	AUX
cblr-1780	799	21	correlated	correlate	VERB
cblr-1780	799	22	with	with	ADP
cblr-1780	799	23	a	a	DET
cblr-1780	799	24	$	$	SYM
cblr-1780	799	25	1.33	1.33	NUM
cblr-1780	799	26	million	million	NUM
cblr-1780	799	27	decline	decline	NOUN
cblr-1780	799	28	in	in	ADP
cblr-1780	799	29	firm	firm	ADJ
cblr-1780	799	30	value.183	value.183	NOUN
cblr-1780	799	31	this	this	PRON
cblr-1780	799	32	means	mean	VERB
cblr-1780	799	33	that	that	SCONJ
cblr-1780	799	34	each	each	DET
cblr-1780	799	35	$	$	SYM
cblr-1780	799	36	1	1	NUM
cblr-1780	799	37	spent	spend	VERB
cblr-1780	799	38	on	on	ADP
cblr-1780	799	39	politics	politic	NOUN
cblr-1780	799	40	is	be	AUX
cblr-1780	799	41	correlated	correlate	VERB
cblr-1780	799	42	with	with	ADP
cblr-1780	799	43	a	a	DET
cblr-1780	799	44	$	$	SYM
cblr-1780	799	45	130	130	NUM
cblr-1780	799	46	loss	loss	NOUN
cblr-1780	799	47	in	in	ADP
cblr-1780	799	48	value	value	NOUN
cblr-1780	799	49	.	.	PUNCT
cblr-1780	800	1	this	this	DET
cblr-1780	800	2	huge	huge	ADJ
cblr-1780	800	3	multiple	multiple	NOUN
cblr-1780	800	4	(	(	PUNCT
cblr-1780	800	5	over	over	ADP
cblr-1780	800	6	100	100	NUM
cblr-1780	800	7	times	time	NOUN
cblr-1780	800	8	)	)	PUNCT
cblr-1780	800	9	makes	make	VERB
cblr-1780	800	10	clear	clear	ADJ
cblr-1780	800	11	that	that	SCONJ
cblr-1780	800	12	political	political	ADJ
cblr-1780	800	13	spending	spending	NOUN
cblr-1780	800	14	is	be	AUX
cblr-1780	800	15	an	an	DET
cblr-1780	800	16	informative	informative	ADJ
cblr-1780	800	17	signal	signal	NOUN
cblr-1780	800	18	about	about	ADP
cblr-1780	800	19	,	,	PUNCT
cblr-1780	800	20	rather	rather	ADV
cblr-1780	800	21	than	than	ADP
cblr-1780	800	22	the	the	DET
cblr-1780	800	23	actual	actual	ADJ
cblr-1780	800	24	cause	cause	NOUN
cblr-1780	800	25	of	of	ADP
cblr-1780	800	26	,	,	PUNCT
cblr-1780	800	27	the	the	DET
cblr-1780	800	28	subsequent	subsequent	ADJ
cblr-1780	800	29	decline	decline	NOUN
cblr-1780	800	30	in	in	ADP
cblr-1780	800	31	firm	firm	ADJ
cblr-1780	800	32	value.184	value.184	NOUN
cblr-1780	800	33	182	182	NUM
cblr-1780	800	34	another	another	DET
cblr-1780	800	35	example	example	NOUN
cblr-1780	800	36	of	of	ADP
cblr-1780	800	37	how	how	SCONJ
cblr-1780	800	38	information	information	NOUN
cblr-1780	800	39	about	about	ADP
cblr-1780	800	40	trivially	trivially	ADV
cblr-1780	800	41	small	small	ADJ
cblr-1780	800	42	expenditures	expenditure	NOUN
cblr-1780	800	43	can	can	AUX
cblr-1780	800	44	provide	provide	VERB
cblr-1780	800	45	an	an	DET
cblr-1780	800	46	informative	informative	ADJ
cblr-1780	800	47	signal	signal	NOUN
cblr-1780	800	48	about	about	ADP
cblr-1780	800	49	firm	firm	ADJ
cblr-1780	800	50	value	value	NOUN
cblr-1780	800	51	comes	come	VERB
cblr-1780	800	52	from	from	ADP
cblr-1780	800	53	david	david	PROPN
cblr-1780	800	54	yermack	yermack	PROPN
cblr-1780	800	55	’s	’s	PART
cblr-1780	800	56	research	research	NOUN
cblr-1780	800	57	on	on	ADP
cblr-1780	800	58	the	the	DET
cblr-1780	800	59	personal	personal	ADJ
cblr-1780	800	60	use	use	NOUN
cblr-1780	800	61	of	of	ADP
cblr-1780	800	62	corporate	corporate	ADJ
cblr-1780	800	63	jets	jet	NOUN
cblr-1780	800	64	by	by	ADP
cblr-1780	800	65	public	public	ADJ
cblr-1780	800	66	company	company	NOUN
cblr-1780	800	67	ceos	ceos	NOUN
cblr-1780	800	68	.	.	PUNCT
cblr-1780	801	1	david	david	PROPN
cblr-1780	801	2	yermack	yermack	PROPN
cblr-1780	801	3	,	,	PUNCT
cblr-1780	801	4	flights	flight	NOUN
cblr-1780	801	5	of	of	ADP
cblr-1780	801	6	fancy	fancy	ADJ
cblr-1780	801	7	:	:	PUNCT
cblr-1780	801	8	corporate	corporate	ADJ
cblr-1780	801	9	jets	jet	NOUN
cblr-1780	801	10	,	,	PUNCT
cblr-1780	801	11	ceo	ceo	NOUN
cblr-1780	801	12	perquisites	perquisite	NOUN
cblr-1780	801	13	,	,	PUNCT
cblr-1780	801	14	and	and	CCONJ
cblr-1780	801	15	inferior	inferior	ADJ
cblr-1780	801	16	shareholder	shareholder	NOUN
cblr-1780	801	17	returns	return	NOUN
cblr-1780	801	18	,	,	PUNCT
cblr-1780	801	19	80	80	NUM
cblr-1780	801	20	j.	j.	PROPN
cblr-1780	801	21	fin	fin	PROPN
cblr-1780	801	22	.	.	PUNCT
cblr-1780	801	23	econ	econ	PROPN
cblr-1780	801	24	.	.	PUNCT
cblr-1780	802	1	211	211	NUM
cblr-1780	802	2	(	(	PUNCT
cblr-1780	802	3	2006	2006	NUM
cblr-1780	802	4	)	)	PUNCT
cblr-1780	802	5	.	.	PUNCT
cblr-1780	803	1	yermack	yermack	NOUN
cblr-1780	803	2	finds	find	VERB
cblr-1780	803	3	that	that	PRON
cblr-1780	803	4	increased	increase	VERB
cblr-1780	803	5	personal	personal	ADJ
cblr-1780	803	6	use	use	NOUN
cblr-1780	803	7	of	of	ADP
cblr-1780	803	8	corporate	corporate	ADJ
cblr-1780	803	9	jets	jet	NOUN
cblr-1780	803	10	by	by	ADP
cblr-1780	803	11	these	these	DET
cblr-1780	803	12	ceos	ceos	NOUN
cblr-1780	803	13	is	be	AUX
cblr-1780	803	14	correlated	correlate	VERB
cblr-1780	803	15	with	with	ADP
cblr-1780	803	16	significantly	significantly	ADV
cblr-1780	803	17	lower	low	ADJ
cblr-1780	803	18	future	future	ADJ
cblr-1780	803	19	stock	stock	NOUN
cblr-1780	803	20	returns	return	NOUN
cblr-1780	803	21	for	for	ADP
cblr-1780	803	22	that	that	DET
cblr-1780	803	23	firm	firm	NOUN
cblr-1780	803	24	.	.	PUNCT
cblr-1780	804	1	i	i	PRON
cblr-1780	804	2	d.	d.	PROPN
cblr-1780	804	3	at	at	ADP
cblr-1780	804	4	213	213	NUM
cblr-1780	804	5	.	.	PUNCT
cblr-1780	805	1	this	this	DET
cblr-1780	805	2	future	future	ADJ
cblr-1780	805	3	decline	decline	NOUN
cblr-1780	805	4	in	in	ADP
cblr-1780	805	5	firm	firm	ADJ
cblr-1780	805	6	value	value	NOUN
cblr-1780	805	7	is	be	AUX
cblr-1780	805	8	many	many	ADJ
cblr-1780	805	9	,	,	PUNCT
cblr-1780	805	10	many	many	ADJ
cblr-1780	805	11	multiples	multiple	NOUN
cblr-1780	805	12	of	of	ADP
cblr-1780	805	13	the	the	DET
cblr-1780	805	14	actual	actual	ADJ
cblr-1780	805	15	cost	cost	NOUN
cblr-1780	805	16	of	of	ADP
cblr-1780	805	17	the	the	DET
cblr-1780	805	18	flights	flight	NOUN
cblr-1780	805	19	involved	involve	VERB
cblr-1780	805	20	.	.	PUNCT
cblr-1780	806	1	i	i	PRON
cblr-1780	806	2	d.	d.	PROPN
cblr-1780	806	3	therefore	therefore	ADV
cblr-1780	806	4	,	,	PUNCT
cblr-1780	806	5	rather	rather	ADV
cblr-1780	806	6	than	than	ADP
cblr-1780	806	7	identifying	identify	VERB
cblr-1780	806	8	a	a	DET
cblr-1780	806	9	direct	direct	ADJ
cblr-1780	806	10	cause	cause	NOUN
cblr-1780	806	11	of	of	ADP
cblr-1780	806	12	future	future	ADJ
cblr-1780	806	13	financial	financial	ADJ
cblr-1780	806	14	loss	loss	NOUN
cblr-1780	806	15	,	,	PUNCT
cblr-1780	806	16	yermack	yermack	NOUN
cblr-1780	806	17	’s	’s	PART
cblr-1780	806	18	analysis	analysis	NOUN
cblr-1780	806	19	on	on	ADP
cblr-1780	806	20	the	the	DET
cblr-1780	806	21	personal	personal	ADJ
cblr-1780	806	22	use	use	NOUN
cblr-1780	806	23	of	of	ADP
cblr-1780	806	24	corporate	corporate	ADJ
cblr-1780	806	25	jets	jet	NOUN
cblr-1780	806	26	provides	provide	VERB
cblr-1780	806	27	an	an	DET
cblr-1780	806	28	informative	informative	ADJ
cblr-1780	806	29	signal	signal	NOUN
cblr-1780	806	30	about	about	ADP
cblr-1780	806	31	other	other	ADJ
cblr-1780	806	32	firm	firm	ADJ
cblr-1780	806	33	attributes	attribute	NOUN
cblr-1780	806	34	that	that	PRON
cblr-1780	806	35	are	be	AUX
cblr-1780	806	36	associated	associate	VERB
cblr-1780	806	37	with	with	ADP
cblr-1780	806	38	lower	low	ADJ
cblr-1780	806	39	future	future	ADJ
cblr-1780	806	40	stock	stock	NOUN
cblr-1780	806	41	returns	return	NOUN
cblr-1780	806	42	.	.	PUNCT
cblr-1780	807	1	yermack	yermack	NOUN
cblr-1780	807	2	also	also	ADV
cblr-1780	807	3	finds	find	VERB
cblr-1780	807	4	that	that	SCONJ
cblr-1780	807	5	a	a	DET
cblr-1780	807	6	firm	firm	NOUN
cblr-1780	807	7	’s	’s	PART
cblr-1780	807	8	stock	stock	NOUN
cblr-1780	807	9	price	price	NOUN
cblr-1780	807	10	drops	drop	NOUN
cblr-1780	807	11	when	when	SCONJ
cblr-1780	807	12	personal	personal	ADJ
cblr-1780	807	13	use	use	NOUN
cblr-1780	807	14	of	of	ADP
cblr-1780	807	15	corporate	corporate	ADJ
cblr-1780	807	16	jets	jet	NOUN
cblr-1780	807	17	by	by	ADP
cblr-1780	807	18	the	the	DET
cblr-1780	807	19	ceo	ceo	NOUN
cblr-1780	807	20	is	be	AUX
cblr-1780	807	21	first	first	ADV
cblr-1780	807	22	disclosed	disclose	VERB
cblr-1780	807	23	.	.	PUNCT
cblr-1780	808	1	i	i	PRON
cblr-1780	808	2	d.	d.	PROPN
cblr-1780	808	3	presumably	presumably	ADV
cblr-1780	808	4	,	,	PUNCT
cblr-1780	808	5	some	some	DET
cblr-1780	808	6	investors	investor	NOUN
cblr-1780	808	7	realize	realize	VERB
cblr-1780	808	8	the	the	DET
cblr-1780	808	9	value	value	NOUN
cblr-1780	808	10	-	-	PUNCT
cblr-1780	808	11	relevance	relevance	NOUN
cblr-1780	808	12	of	of	ADP
cblr-1780	808	13	information	information	NOUN
cblr-1780	808	14	about	about	ADP
cblr-1780	808	15	other	other	ADJ
cblr-1780	808	16	attributes	attribute	NOUN
cblr-1780	808	17	of	of	ADP
cblr-1780	808	18	the	the	DET
cblr-1780	808	19	firm	firm	NOUN
cblr-1780	808	20	contained	contain	VERB
cblr-1780	808	21	in	in	ADP
cblr-1780	808	22	the	the	DET
cblr-1780	808	23	decision	decision	NOUN
cblr-1780	808	24	of	of	ADP
cblr-1780	808	25	the	the	DET
cblr-1780	808	26	ceo	ceo	NOUN
cblr-1780	808	27	to	to	PART
cblr-1780	808	28	use	use	VERB
cblr-1780	808	29	corporate	corporate	ADJ
cblr-1780	808	30	jets	jet	NOUN
cblr-1780	808	31	for	for	ADP
cblr-1780	808	32	personal	personal	ADJ
cblr-1780	808	33	trips	trip	NOUN
cblr-1780	808	34	.	.	PUNCT
cblr-1780	809	1	183	183	NUM
cblr-1780	809	2	aggarwal	aggarwal	NOUN
cblr-1780	809	3	et	et	NOUN
cblr-1780	809	4	al	al	PROPN
cblr-1780	809	5	.	.	PROPN
cblr-1780	809	6	,	,	PUNCT
cblr-1780	809	7	supra	supra	PROPN
cblr-1780	809	8	note	note	PROPN
cblr-1780	809	9	16	16	NUM
cblr-1780	809	10	,	,	PUNCT
cblr-1780	809	11	at	at	ADP
cblr-1780	809	12	15	15	NUM
cblr-1780	809	13	.	.	PUNCT
cblr-1780	810	1	184	184	NUM
cblr-1780	810	2	coates	coate	NOUN
cblr-1780	810	3	also	also	ADV
cblr-1780	810	4	rejects	reject	VERB
cblr-1780	810	5	direct	direct	ADJ
cblr-1780	810	6	causation	causation	NOUN
cblr-1780	810	7	as	as	ADP
cblr-1780	810	8	providing	provide	VERB
cblr-1780	810	9	a	a	DET
cblr-1780	810	10	plausible	plausible	ADJ
cblr-1780	810	11	explanation	explanation	NOUN
cblr-1780	810	12	of	of	ADP
cblr-1780	810	13	the	the	DET
cblr-1780	810	14	relationship	relationship	NOUN
cblr-1780	810	15	between	between	ADP
cblr-1780	810	16	political	political	ADJ
cblr-1780	810	17	spending	spending	NOUN
cblr-1780	810	18	and	and	CCONJ
cblr-1780	810	19	a	a	DET
cblr-1780	810	20	future	future	ADJ
cblr-1780	810	21	decline	decline	NOUN
cblr-1780	810	22	in	in	ADP
cblr-1780	810	23	firm	firm	ADJ
cblr-1780	810	24	value	value	NOUN
cblr-1780	810	25	.	.	PUNCT
cblr-1780	811	1	coates	coate	NOUN
cblr-1780	811	2	,	,	PUNCT
cblr-1780	811	3	supra	supra	PROPN
cblr-1780	811	4	note	note	NOUN
cblr-1780	811	5	24	24	NUM
cblr-1780	811	6	,	,	PUNCT
cblr-1780	811	7	at	at	ADP
cblr-1780	811	8	659	659	NUM
cblr-1780	811	9	.	.	PUNCT
cblr-1780	812	1	however	however	ADV
cblr-1780	812	2	,	,	PUNCT
cblr-1780	812	3	coates	coates	PROPN
cblr-1780	812	4	hypothesizes	hypothesize	VERB
cblr-1780	812	5	that	that	SCONJ
cblr-1780	812	6	there	there	PRON
cblr-1780	812	7	may	may	AUX
cblr-1780	812	8	be	be	AUX
cblr-1780	812	9	an	an	DET
cblr-1780	812	10	indirect	indirect	ADJ
cblr-1780	812	11	but	but	CCONJ
cblr-1780	812	12	causal	causal	ADJ
cblr-1780	812	13	link	link	NOUN
cblr-1780	812	14	between	between	ADP
cblr-1780	812	15	more	more	ADJ
cblr-1780	812	16	political	political	ADJ
cblr-1780	812	17	spending	spending	NOUN
cblr-1780	812	18	and	and	CCONJ
cblr-1780	812	19	the	the	DET
cblr-1780	812	20	decline	decline	NOUN
cblr-1780	812	21	in	in	ADP
cblr-1780	812	22	value	value	NOUN
cblr-1780	812	23	,	,	PUNCT
cblr-1780	812	24	noting	note	VERB
cblr-1780	812	25	that	that	SCONJ
cblr-1780	812	26	“	"	PUNCT
cblr-1780	812	27	the	the	DET
cblr-1780	812	28	costs	cost	NOUN
cblr-1780	812	29	of	of	ADP
cblr-1780	812	30	politics	politic	NOUN
cblr-1780	812	31	could	could	AUX
cblr-1780	812	32	extend	extend	VERB
cblr-1780	812	33	far	far	ADV
cblr-1780	812	34	beyond	beyond	ADP
cblr-1780	812	35	direct	direct	ADJ
cblr-1780	812	36	costs	cost	NOUN
cblr-1780	812	37	to	to	PART
cblr-1780	812	38	include	include	VERB
cblr-1780	812	39	opportunity	opportunity	NOUN
cblr-1780	812	40	costs	cost	NOUN
cblr-1780	812	41	of	of	ADP
cblr-1780	812	42	manager	manager	NOUN
cblr-1780	812	43	time	time	NOUN
cblr-1780	812	44	,	,	PUNCT
cblr-1780	812	45	distraction	distraction	NOUN
cblr-1780	812	46	and	and	CCONJ
cblr-1780	812	47	confusion	confusion	NOUN
cblr-1780	812	48	for	for	ADP
cblr-1780	812	49	middle	middle	ADJ
cblr-1780	812	50	managers	manager	NOUN
cblr-1780	812	51	and	and	CCONJ
cblr-1780	812	52	employees	employee	NOUN
cblr-1780	812	53	,	,	PUNCT
cblr-1780	812	54	the	the	DET
cblr-1780	812	55	risks	risk	NOUN
cblr-1780	812	56	of	of	ADP
cblr-1780	812	57	consumer	consumer	NOUN
cblr-1780	812	58	backlash	backlash	NOUN
cblr-1780	812	59	,	,	PUNCT
cblr-1780	812	60	and	and	CCONJ
cblr-1780	812	61	the	the	DET
cblr-1780	812	62	risks	risk	NOUN
cblr-1780	812	63	that	that	PRON
cblr-1780	812	64	politically	politically	ADV
cblr-1780	812	65	contingent	contingent	ADJ
cblr-1780	812	66	operational	operational	ADJ
cblr-1780	812	67	investments	investment	NOUN
cblr-1780	812	68	turn	turn	VERB
cblr-1780	812	69	sour	sour	ADJ
cblr-1780	812	70	.	.	PUNCT
cblr-1780	812	71	”	"	PUNCT
cblr-1780	813	1	i	i	PRON
cblr-1780	813	2	d.	d.	PROPN
cblr-1780	813	3	at	at	ADP
cblr-1780	813	4	689	689	NUM
cblr-1780	813	5	.	.	PUNCT
cblr-1780	814	1	i	i	PRON
cblr-1780	814	2	am	be	AUX
cblr-1780	814	3	not	not	PART
cblr-1780	814	4	convinced	convince	VERB
cblr-1780	814	5	that	that	SCONJ
cblr-1780	814	6	spending	spend	VERB
cblr-1780	814	7	$	$	SYM
cblr-1780	814	8	1	1	NUM
cblr-1780	814	9	on	on	ADP
cblr-1780	814	10	politics	politic	NOUN
cblr-1780	814	11	could	could	AUX
cblr-1780	814	12	impose	impose	VERB
cblr-1780	814	13	an	an	DET
cblr-1780	814	14	average	average	ADJ
cblr-1780	814	15	cost	cost	NOUN
cblr-1780	814	16	$	$	SYM
cblr-1780	814	17	130	130	NUM
cblr-1780	814	18	on	on	ADP
cblr-1780	814	19	the	the	DET
cblr-1780	814	20	firm	firm	NOUN
cblr-1780	814	21	,	,	PUNCT
cblr-1780	814	22	even	even	ADV
cblr-1780	814	23	through	through	ADP
cblr-1780	814	24	these	these	DET
cblr-1780	814	25	indirect	indirect	ADJ
cblr-1780	814	26	channels	channel	NOUN
cblr-1780	814	27	.	.	PUNCT
cblr-1780	815	1	guttentag	guttentag	NOUN
cblr-1780	815	2	–	–	PUNCT
cblr-1780	815	3	final	final	ADJ
cblr-1780	815	4	no	no	NOUN
cblr-1780	815	5	.	.	PUNCT
cblr-1780	816	1	3:593	3:593	NUM
cblr-1780	816	2	]	]	PUNCT
cblr-1780	816	3	on	on	ADP
cblr-1780	816	4	political	political	ADJ
cblr-1780	816	5	spending	spending	NOUN
cblr-1780	816	6	disclosure	disclosure	NOUN
cblr-1780	816	7	651	651	NUM
cblr-1780	816	8	the	the	DET
cblr-1780	816	9	evidence	evidence	NOUN
cblr-1780	816	10	that	that	SCONJ
cblr-1780	816	11	political	political	ADJ
cblr-1780	816	12	spending	spending	NOUN
cblr-1780	816	13	is	be	AUX
cblr-1780	816	14	an	an	DET
cblr-1780	816	15	informative	informative	ADJ
cblr-1780	816	16	signal	signal	NOUN
cblr-1780	816	17	about	about	ADP
cblr-1780	816	18	,	,	PUNCT
cblr-1780	816	19	rather	rather	ADV
cblr-1780	816	20	than	than	ADP
cblr-1780	816	21	the	the	DET
cblr-1780	816	22	cause	cause	NOUN
cblr-1780	816	23	of	of	ADP
cblr-1780	816	24	,	,	PUNCT
cblr-1780	816	25	future	future	ADJ
cblr-1780	816	26	share	share	NOUN
cblr-1780	816	27	price	price	NOUN
cblr-1780	816	28	declines	decline	NOUN
cblr-1780	816	29	,	,	PUNCT
cblr-1780	816	30	significantly	significantly	ADV
cblr-1780	816	31	weakens	weaken	VERB
cblr-1780	816	32	an	an	DET
cblr-1780	816	33	argument	argument	NOUN
cblr-1780	816	34	that	that	SCONJ
cblr-1780	816	35	mandatory	mandatory	ADJ
cblr-1780	816	36	disclosure	disclosure	NOUN
cblr-1780	816	37	of	of	ADP
cblr-1780	816	38	this	this	DET
cblr-1780	816	39	information	information	NOUN
cblr-1780	816	40	would	would	AUX
cblr-1780	816	41	provide	provide	VERB
cblr-1780	816	42	a	a	DET
cblr-1780	816	43	helpful	helpful	ADJ
cblr-1780	816	44	corrective	corrective	NOUN
cblr-1780	816	45	for	for	ADP
cblr-1780	816	46	positive	positive	ADJ
cblr-1780	816	47	externalities.185	externalities.185	NOUN
cblr-1780	816	48	even	even	ADV
cblr-1780	816	49	if	if	SCONJ
cblr-1780	816	50	we	we	PRON
cblr-1780	816	51	accept	accept	VERB
cblr-1780	816	52	the	the	DET
cblr-1780	816	53	unlikely	unlikely	ADJ
cblr-1780	816	54	proposition	proposition	NOUN
cblr-1780	816	55	that	that	SCONJ
cblr-1780	816	56	political	political	ADJ
cblr-1780	816	57	spending	spending	NOUN
cblr-1780	816	58	information	information	NOUN
cblr-1780	816	59	is	be	AUX
cblr-1780	816	60	withheld	withhold	VERB
cblr-1780	816	61	because	because	SCONJ
cblr-1780	816	62	of	of	ADP
cblr-1780	816	63	distortions	distortion	NOUN
cblr-1780	816	64	caused	cause	VERB
cblr-1780	816	65	by	by	ADP
cblr-1780	816	66	positive	positive	ADJ
cblr-1780	816	67	externalities	externality	NOUN
cblr-1780	816	68	,	,	PUNCT
cblr-1780	816	69	the	the	DET
cblr-1780	816	70	benefits	benefit	NOUN
cblr-1780	816	71	of	of	ADP
cblr-1780	816	72	corrective	corrective	ADJ
cblr-1780	816	73	mandatory	mandatory	ADJ
cblr-1780	816	74	disclosure	disclosure	NOUN
cblr-1780	816	75	would	would	AUX
cblr-1780	816	76	probably	probably	ADV
cblr-1780	816	77	be	be	AUX
cblr-1780	816	78	minimal	minimal	ADJ
cblr-1780	816	79	in	in	ADP
cblr-1780	816	80	this	this	DET
cblr-1780	816	81	context	context	NOUN
cblr-1780	816	82	.	.	PUNCT
cblr-1780	817	1	the	the	DET
cblr-1780	817	2	effects	effect	NOUN
cblr-1780	817	3	of	of	ADP
cblr-1780	817	4	mandating	mandate	VERB
cblr-1780	817	5	the	the	DET
cblr-1780	817	6	disclosure	disclosure	NOUN
cblr-1780	817	7	of	of	ADP
cblr-1780	817	8	an	an	DET
cblr-1780	817	9	informative	informative	ADJ
cblr-1780	817	10	signal	signal	NOUN
cblr-1780	817	11	will	will	AUX
cblr-1780	817	12	be	be	AUX
cblr-1780	817	13	different	different	ADJ
cblr-1780	817	14	than	than	ADP
cblr-1780	817	15	the	the	DET
cblr-1780	817	16	effects	effect	NOUN
cblr-1780	817	17	of	of	ADP
cblr-1780	817	18	mandating	mandate	VERB
cblr-1780	817	19	the	the	DET
cblr-1780	817	20	disclosure	disclosure	NOUN
cblr-1780	817	21	of	of	ADP
cblr-1780	817	22	the	the	DET
cblr-1780	817	23	underlying	underlying	ADJ
cblr-1780	817	24	cause	cause	NOUN
cblr-1780	817	25	of	of	ADP
cblr-1780	817	26	a	a	DET
cblr-1780	817	27	decline	decline	NOUN
cblr-1780	817	28	in	in	ADP
cblr-1780	817	29	firm	firm	ADJ
cblr-1780	817	30	value	value	NOUN
cblr-1780	817	31	.	.	PUNCT
cblr-1780	818	1	requiring	require	VERB
cblr-1780	818	2	the	the	DET
cblr-1780	818	3	disclosure	disclosure	NOUN
cblr-1780	818	4	of	of	ADP
cblr-1780	818	5	an	an	DET
cblr-1780	818	6	informative	informative	ADJ
cblr-1780	818	7	signal	signal	NOUN
cblr-1780	818	8	is	be	AUX
cblr-1780	818	9	more	more	ADV
cblr-1780	818	10	likely	likely	ADJ
cblr-1780	818	11	to	to	PART
cblr-1780	818	12	alter	alter	VERB
cblr-1780	818	13	the	the	DET
cblr-1780	818	14	behavior	behavior	NOUN
cblr-1780	818	15	producing	produce	VERB
cblr-1780	818	16	the	the	DET
cblr-1780	818	17	signal	signal	NOUN
cblr-1780	818	18	than	than	SCONJ
cblr-1780	818	19	to	to	PART
cblr-1780	818	20	affect	affect	VERB
cblr-1780	818	21	the	the	DET
cblr-1780	818	22	behavior	behavior	NOUN
cblr-1780	818	23	that	that	PRON
cblr-1780	818	24	is	be	AUX
cblr-1780	818	25	reducing	reduce	VERB
cblr-1780	818	26	the	the	DET
cblr-1780	818	27	firm	firm	NOUN
cblr-1780	818	28	’s	’s	PART
cblr-1780	818	29	value	value	NOUN
cblr-1780	818	30	.	.	PUNCT
cblr-1780	819	1	looking	look	VERB
cblr-1780	819	2	to	to	ADP
cblr-1780	819	3	the	the	DET
cblr-1780	819	4	analogy	analogy	NOUN
cblr-1780	819	5	of	of	ADP
cblr-1780	819	6	personal	personal	ADJ
cblr-1780	819	7	use	use	NOUN
cblr-1780	819	8	of	of	ADP
cblr-1780	819	9	corporate	corporate	ADJ
cblr-1780	819	10	jets	jet	NOUN
cblr-1780	819	11	by	by	ADP
cblr-1780	819	12	public	public	ADJ
cblr-1780	819	13	company	company	NOUN
cblr-1780	819	14	ceos	ceos	NOUN
cblr-1780	819	15	is	be	AUX
cblr-1780	819	16	instructive	instructive	ADJ
cblr-1780	819	17	,	,	PUNCT
cblr-1780	819	18	because	because	SCONJ
cblr-1780	819	19	such	such	ADJ
cblr-1780	819	20	jet	jet	NOUN
cblr-1780	819	21	use	use	NOUN
cblr-1780	819	22	is	be	AUX
cblr-1780	819	23	also	also	ADV
cblr-1780	819	24	a	a	DET
cblr-1780	819	25	signal	signal	NOUN
cblr-1780	819	26	of	of	ADP
cblr-1780	819	27	future	future	ADJ
cblr-1780	819	28	stock	stock	NOUN
cblr-1780	819	29	price	price	NOUN
cblr-1780	819	30	underperformance.186	underperformance.186	NOUN
cblr-1780	819	31	it	it	PRON
cblr-1780	819	32	would	would	AUX
cblr-1780	819	33	seem	seem	VERB
cblr-1780	819	34	implausible	implausible	ADJ
cblr-1780	819	35	that	that	SCONJ
cblr-1780	819	36	a	a	DET
cblr-1780	819	37	ban	ban	NOUN
cblr-1780	819	38	on	on	ADP
cblr-1780	819	39	personal	personal	ADJ
cblr-1780	819	40	use	use	NOUN
cblr-1780	819	41	of	of	ADP
cblr-1780	819	42	corporate	corporate	ADJ
cblr-1780	819	43	jets	jet	NOUN
cblr-1780	819	44	(	(	PUNCT
cblr-1780	819	45	a	a	DET
cblr-1780	819	46	more	more	ADV
cblr-1780	819	47	severe	severe	ADJ
cblr-1780	819	48	intervention	intervention	NOUN
cblr-1780	819	49	than	than	ADP
cblr-1780	819	50	a	a	DET
cblr-1780	819	51	disclosure	disclosure	NOUN
cblr-1780	819	52	requirement	requirement	NOUN
cblr-1780	819	53	)	)	PUNCT
cblr-1780	819	54	would	would	AUX
cblr-1780	819	55	prevent	prevent	VERB
cblr-1780	819	56	the	the	DET
cblr-1780	819	57	substantial	substantial	ADJ
cblr-1780	819	58	decline	decline	NOUN
cblr-1780	819	59	in	in	ADP
cblr-1780	819	60	value	value	NOUN
cblr-1780	819	61	correlated	correlate	VERB
cblr-1780	819	62	with	with	ADP
cblr-1780	819	63	this	this	DET
cblr-1780	819	64	type	type	NOUN
cblr-1780	819	65	of	of	ADP
cblr-1780	819	66	jet	jet	NOUN
cblr-1780	819	67	use	use	NOUN
cblr-1780	819	68	,	,	PUNCT
cblr-1780	819	69	because	because	SCONJ
cblr-1780	819	70	corporate	corporate	ADJ
cblr-1780	819	71	jet	jet	NOUN
cblr-1780	819	72	use	use	NOUN
cblr-1780	819	73	was	be	AUX
cblr-1780	819	74	not	not	PART
cblr-1780	819	75	the	the	DET
cblr-1780	819	76	cause	cause	NOUN
cblr-1780	819	77	of	of	ADP
cblr-1780	819	78	the	the	DET
cblr-1780	819	79	decline	decline	NOUN
cblr-1780	819	80	in	in	ADP
cblr-1780	819	81	firm	firm	ADJ
cblr-1780	819	82	value	value	NOUN
cblr-1780	819	83	in	in	ADP
cblr-1780	819	84	the	the	DET
cblr-1780	819	85	first	first	ADJ
cblr-1780	819	86	place.187	place.187	NOUN
cblr-1780	819	87	similarly	similarly	ADV
cblr-1780	819	88	,	,	PUNCT
cblr-1780	819	89	banning	ban	VERB
cblr-1780	819	90	or	or	CCONJ
cblr-1780	819	91	requiring	require	VERB
cblr-1780	819	92	disclosure	disclosure	NOUN
cblr-1780	819	93	of	of	ADP
cblr-1780	819	94	political	political	ADJ
cblr-1780	819	95	spending	spending	NOUN
cblr-1780	819	96	is	be	AUX
cblr-1780	819	97	unlikely	unlikely	ADJ
cblr-1780	819	98	to	to	PART
cblr-1780	819	99	alter	alter	VERB
cblr-1780	819	100	the	the	DET
cblr-1780	819	101	underlying	underlie	VERB
cblr-1780	819	102	dynamics	dynamic	NOUN
cblr-1780	819	103	about	about	ADP
cblr-1780	819	104	which	which	PRON
cblr-1780	819	105	it	it	PRON
cblr-1780	819	106	provides	provide	VERB
cblr-1780	819	107	an	an	DET
cblr-1780	819	108	informative	informative	ADJ
cblr-1780	819	109	signal	signal	NOUN
cblr-1780	819	110	.	.	PUNCT
cblr-1780	820	1	one	one	NUM
cblr-1780	820	2	justification	justification	NOUN
cblr-1780	820	3	for	for	ADP
cblr-1780	820	4	the	the	DET
cblr-1780	820	5	regulation	regulation	NOUN
cblr-1780	820	6	of	of	ADP
cblr-1780	820	7	public	public	ADJ
cblr-1780	820	8	company	company	NOUN
cblr-1780	820	9	disclosure	disclosure	NOUN
cblr-1780	820	10	policies	policy	NOUN
cblr-1780	820	11	is	be	AUX
cblr-1780	820	12	that	that	SCONJ
cblr-1780	820	13	such	such	ADJ
cblr-1780	820	14	regulation	regulation	NOUN
cblr-1780	820	15	might	might	AUX
cblr-1780	820	16	be	be	AUX
cblr-1780	820	17	helpful	helpful	ADJ
cblr-1780	820	18	in	in	ADP
cblr-1780	820	19	correcting	correct	VERB
cblr-1780	820	20	for	for	ADP
cblr-1780	820	21	distortions	distortion	NOUN
cblr-1780	820	22	in	in	ADP
cblr-1780	820	23	disclosure	disclosure	NOUN
cblr-1780	820	24	policies	policy	NOUN
cblr-1780	820	25	caused	cause	VERB
cblr-1780	820	26	by	by	ADP
cblr-1780	820	27	185	185	NUM
cblr-1780	820	28	the	the	DET
cblr-1780	820	29	related	relate	VERB
cblr-1780	820	30	question	question	NOUN
cblr-1780	820	31	of	of	ADP
cblr-1780	820	32	whether	whether	SCONJ
cblr-1780	820	33	an	an	DET
cblr-1780	820	34	informative	informative	ADJ
cblr-1780	820	35	signal	signal	NOUN
cblr-1780	820	36	of	of	ADP
cblr-1780	820	37	firm	firm	ADJ
cblr-1780	820	38	value	value	NOUN
cblr-1780	820	39	should	should	AUX
cblr-1780	820	40	be	be	AUX
cblr-1780	820	41	subject	subject	ADJ
cblr-1780	820	42	to	to	ADP
cblr-1780	820	43	the	the	DET
cblr-1780	820	44	materiality	materiality	NOUN
cblr-1780	820	45	disclosure	disclosure	NOUN
cblr-1780	820	46	requirement	requirement	NOUN
cblr-1780	820	47	raises	raise	VERB
cblr-1780	820	48	an	an	DET
cblr-1780	820	49	interesting	interesting	ADJ
cblr-1780	820	50	question	question	NOUN
cblr-1780	820	51	that	that	SCONJ
cblr-1780	820	52	,	,	PUNCT
cblr-1780	820	53	to	to	ADP
cblr-1780	820	54	the	the	DET
cblr-1780	820	55	best	good	ADJ
cblr-1780	820	56	of	of	ADP
cblr-1780	820	57	my	my	PRON
cblr-1780	820	58	knowledge	knowledge	NOUN
cblr-1780	820	59	,	,	PUNCT
cblr-1780	820	60	has	have	AUX
cblr-1780	820	61	not	not	PART
cblr-1780	820	62	been	be	AUX
cblr-1780	820	63	previously	previously	ADV
cblr-1780	820	64	considered	consider	VERB
cblr-1780	820	65	elsewhere	elsewhere	ADV
cblr-1780	820	66	.	.	PUNCT
cblr-1780	821	1	technically	technically	ADV
cblr-1780	821	2	,	,	PUNCT
cblr-1780	821	3	an	an	DET
cblr-1780	821	4	informative	informative	ADJ
cblr-1780	821	5	signal	signal	NOUN
cblr-1780	821	6	would	would	AUX
cblr-1780	821	7	seem	seem	VERB
cblr-1780	821	8	to	to	PART
cblr-1780	821	9	meet	meet	VERB
cblr-1780	821	10	the	the	DET
cblr-1780	821	11	u.s	u.s	PROPN
cblr-1780	821	12	.	.	PROPN
cblr-1780	821	13	supreme	supreme	PROPN
cblr-1780	821	14	court	court	PROPN
cblr-1780	821	15	’s	’s	PART
cblr-1780	821	16	definition	definition	NOUN
cblr-1780	821	17	of	of	ADP
cblr-1780	821	18	materiality	materiality	NOUN
cblr-1780	821	19	as	as	SCONJ
cblr-1780	821	20	set	set	VERB
cblr-1780	821	21	out	out	ADP
cblr-1780	821	22	in	in	ADP
cblr-1780	821	23	basic	basic	PROPN
cblr-1780	821	24	inc	inc	PROPN
cblr-1780	821	25	.	.	PROPN
cblr-1780	822	1	v.	v.	PROPN
cblr-1780	822	2	levinson	levinson	PROPN
cblr-1780	822	3	,	,	PUNCT
cblr-1780	822	4	485	485	NUM
cblr-1780	822	5	u.s	u.s	PROPN
cblr-1780	822	6	.	.	PROPN
cblr-1780	822	7	224	224	NUM
cblr-1780	822	8	,	,	PUNCT
cblr-1780	822	9	240	240	NUM
cblr-1780	822	10	(	(	PUNCT
cblr-1780	822	11	1988	1988	NUM
cblr-1780	822	12	)	)	PUNCT
cblr-1780	822	13	,	,	PUNCT
cblr-1780	822	14	because	because	SCONJ
cblr-1780	822	15	it	it	PRON
cblr-1780	822	16	is	be	AUX
cblr-1780	822	17	information	information	NOUN
cblr-1780	822	18	that	that	PRON
cblr-1780	822	19	would	would	AUX
cblr-1780	822	20	be	be	AUX
cblr-1780	822	21	of	of	ADP
cblr-1780	822	22	interest	interest	NOUN
cblr-1780	822	23	to	to	ADP
cblr-1780	822	24	a	a	DET
cblr-1780	822	25	reasonable	reasonable	ADJ
cblr-1780	822	26	investor	investor	NOUN
cblr-1780	822	27	.	.	PUNCT
cblr-1780	823	1	this	this	PRON
cblr-1780	823	2	is	be	AUX
cblr-1780	823	3	a	a	DET
cblr-1780	823	4	topic	topic	NOUN
cblr-1780	823	5	worthy	worthy	ADJ
cblr-1780	823	6	of	of	ADP
cblr-1780	823	7	further	further	ADJ
cblr-1780	823	8	consideration	consideration	NOUN
cblr-1780	823	9	,	,	PUNCT
cblr-1780	823	10	but	but	CCONJ
cblr-1780	823	11	is	be	AUX
cblr-1780	823	12	beyond	beyond	ADP
cblr-1780	823	13	the	the	DET
cblr-1780	823	14	scope	scope	NOUN
cblr-1780	823	15	of	of	ADP
cblr-1780	823	16	this	this	DET
cblr-1780	823	17	article	article	NOUN
cblr-1780	823	18	.	.	PUNCT
cblr-1780	824	1	186	186	NUM
cblr-1780	824	2	see	see	VERB
cblr-1780	824	3	yermack	yermack	NOUN
cblr-1780	824	4	,	,	PUNCT
cblr-1780	824	5	supra	supra	PROPN
cblr-1780	824	6	note	note	PROPN
cblr-1780	824	7	182	182	NUM
cblr-1780	824	8	,	,	PUNCT
cblr-1780	824	9	at	at	ADP
cblr-1780	824	10	211	211	NUM
cblr-1780	824	11	.	.	PUNCT
cblr-1780	825	1	187	187	NUM
cblr-1780	825	2	see	see	VERB
cblr-1780	825	3	i	i	PRON
cblr-1780	825	4	d.	d.	PROPN
cblr-1780	825	5	at	at	ADP
cblr-1780	825	6	225	225	NUM
cblr-1780	825	7	.	.	PUNCT
cblr-1780	826	1	guttentag	guttentag	NOUN
cblr-1780	826	2	–	–	PUNCT
cblr-1780	826	3	final	final	ADJ
cblr-1780	826	4	652	652	NUM
cblr-1780	826	5	columbia	columbia	PROPN
cblr-1780	826	6	business	business	NOUN
cblr-1780	826	7	law	law	PROPN
cblr-1780	826	8	review	review	NOUN
cblr-1780	827	1	[	[	X
cblr-1780	827	2	vol	vol	NOUN
cblr-1780	827	3	.	.	PUNCT
cblr-1780	827	4	2014	2014	NUM
cblr-1780	827	5	positive	positive	ADJ
cblr-1780	827	6	externalities	externality	NOUN
cblr-1780	827	7	.	.	PUNCT
cblr-1780	828	1	the	the	DET
cblr-1780	828	2	potential	potential	ADJ
cblr-1780	828	3	beneficiaries	beneficiary	NOUN
cblr-1780	828	4	of	of	ADP
cblr-1780	828	5	public	public	ADJ
cblr-1780	828	6	company	company	NOUN
cblr-1780	828	7	disclosures	disclosure	NOUN
cblr-1780	828	8	whose	whose	DET
cblr-1780	828	9	interests	interest	NOUN
cblr-1780	828	10	may	may	AUX
cblr-1780	828	11	not	not	PART
cblr-1780	828	12	be	be	AUX
cblr-1780	828	13	fully	fully	ADV
cblr-1780	828	14	realized	realize	VERB
cblr-1780	828	15	by	by	ADP
cblr-1780	828	16	firms	firm	NOUN
cblr-1780	828	17	when	when	SCONJ
cblr-1780	828	18	selecting	select	VERB
cblr-1780	828	19	disclosure	disclosure	NOUN
cblr-1780	828	20	policies	policy	NOUN
cblr-1780	828	21	are	be	AUX
cblr-1780	828	22	:	:	PUNCT
cblr-1780	828	23	(	(	PUNCT
cblr-1780	828	24	1	1	X
cblr-1780	828	25	)	)	PUNCT
cblr-1780	828	26	competitors	competitor	NOUN
cblr-1780	828	27	,	,	PUNCT
cblr-1780	828	28	(	(	PUNCT
cblr-1780	828	29	2	2	X
cblr-1780	828	30	)	)	PUNCT
cblr-1780	828	31	other	other	ADJ
cblr-1780	828	32	firms	firm	NOUN
cblr-1780	828	33	with	with	ADP
cblr-1780	828	34	securities	security	NOUN
cblr-1780	828	35	traded	trade	VERB
cblr-1780	828	36	on	on	ADP
cblr-1780	828	37	the	the	DET
cblr-1780	828	38	same	same	ADJ
cblr-1780	828	39	venue	venue	NOUN
cblr-1780	828	40	as	as	ADP
cblr-1780	828	41	the	the	DET
cblr-1780	828	42	disclosing	disclosing	NOUN
cblr-1780	828	43	firm	firm	NOUN
cblr-1780	828	44	,	,	PUNCT
cblr-1780	828	45	and	and	CCONJ
cblr-1780	828	46	(	(	PUNCT
cblr-1780	828	47	3	3	X
cblr-1780	828	48	)	)	PUNCT
cblr-1780	828	49	the	the	DET
cblr-1780	828	50	economy	economy	NOUN
cblr-1780	828	51	at	at	ADP
cblr-1780	828	52	large.188	large.188	VERB
cblr-1780	828	53	the	the	DET
cblr-1780	828	54	evidence	evidence	NOUN
cblr-1780	828	55	does	do	AUX
cblr-1780	828	56	not	not	PART
cblr-1780	828	57	suggest	suggest	VERB
cblr-1780	828	58	that	that	SCONJ
cblr-1780	828	59	more	more	ADJ
cblr-1780	828	60	political	political	ADJ
cblr-1780	828	61	spending	spending	NOUN
cblr-1780	828	62	information	information	NOUN
cblr-1780	828	63	would	would	AUX
cblr-1780	828	64	be	be	AUX
cblr-1780	828	65	disclosed	disclose	VERB
cblr-1780	828	66	by	by	ADP
cblr-1780	828	67	public	public	ADJ
cblr-1780	828	68	firms	firm	NOUN
cblr-1780	828	69	,	,	PUNCT
cblr-1780	828	70	but	but	CCONJ
cblr-1780	828	71	for	for	ADP
cblr-1780	828	72	distortions	distortion	NOUN
cblr-1780	828	73	caused	cause	VERB
cblr-1780	828	74	by	by	ADP
cblr-1780	828	75	unrealized	unrealized	ADJ
cblr-1780	828	76	benefits	benefit	NOUN
cblr-1780	828	77	such	such	ADJ
cblr-1780	828	78	disclosures	disclosure	NOUN
cblr-1780	828	79	would	would	AUX
cblr-1780	828	80	provide	provide	VERB
cblr-1780	828	81	to	to	ADP
cblr-1780	828	82	any	any	PRON
cblr-1780	828	83	of	of	ADP
cblr-1780	828	84	these	these	DET
cblr-1780	828	85	third	third	ADJ
cblr-1780	828	86	parties	party	NOUN
cblr-1780	828	87	.	.	PUNCT
cblr-1780	829	1	therefore	therefore	ADV
cblr-1780	829	2	,	,	PUNCT
cblr-1780	829	3	the	the	DET
cblr-1780	829	4	available	available	ADJ
cblr-1780	829	5	evidence	evidence	NOUN
cblr-1780	829	6	suggests	suggest	VERB
cblr-1780	829	7	that	that	SCONJ
cblr-1780	829	8	positive	positive	ADJ
cblr-1780	829	9	externalities	externality	NOUN
cblr-1780	829	10	do	do	AUX
cblr-1780	829	11	not	not	PART
cblr-1780	829	12	justify	justify	VERB
cblr-1780	829	13	mandating	mandate	VERB
cblr-1780	829	14	the	the	DET
cblr-1780	829	15	disclosure	disclosure	NOUN
cblr-1780	829	16	of	of	ADP
cblr-1780	829	17	political	political	ADJ
cblr-1780	829	18	spending	spending	NOUN
cblr-1780	829	19	by	by	ADP
cblr-1780	829	20	public	public	ADJ
cblr-1780	829	21	companies	company	NOUN
cblr-1780	829	22	.	.	PUNCT
cblr-1780	830	1	b.	b.	PROPN
cblr-1780	830	2	reducing	reduce	VERB
cblr-1780	830	3	tunneling	tunneling	NOUN
cblr-1780	830	4	and	and	CCONJ
cblr-1780	830	5	political	political	ADJ
cblr-1780	830	6	spending	spending	NOUN
cblr-1780	830	7	disclosure	disclosure	NOUN
cblr-1780	830	8	public	public	ADJ
cblr-1780	830	9	company	company	NOUN
cblr-1780	830	10	disclosure	disclosure	NOUN
cblr-1780	830	11	regulation	regulation	NOUN
cblr-1780	830	12	can	can	AUX
cblr-1780	830	13	also	also	ADV
cblr-1780	830	14	benefit	benefit	VERB
cblr-1780	830	15	shareholders	shareholder	NOUN
cblr-1780	830	16	by	by	ADP
cblr-1780	830	17	reducing	reduce	VERB
cblr-1780	830	18	tunneling	tunneling	NOUN
cblr-1780	830	19	.	.	PUNCT
cblr-1780	831	1	without	without	ADP
cblr-1780	831	2	regulatory	regulatory	ADJ
cblr-1780	831	3	intervention	intervention	NOUN
cblr-1780	831	4	public	public	ADJ
cblr-1780	831	5	firms	firm	NOUN
cblr-1780	831	6	may	may	AUX
cblr-1780	831	7	not	not	PART
cblr-1780	831	8	adopt	adopt	VERB
cblr-1780	831	9	a	a	DET
cblr-1780	831	10	sufficient	sufficient	ADJ
cblr-1780	831	11	number	number	NOUN
cblr-1780	831	12	of	of	ADP
cblr-1780	831	13	disclosure	disclosure	NOUN
cblr-1780	831	14	rules	rule	NOUN
cblr-1780	831	15	to	to	PART
cblr-1780	831	16	maximize	maximize	VERB
cblr-1780	831	17	firm	firm	ADJ
cblr-1780	831	18	value.189	value.189	PROPN
cblr-1780	831	19	the	the	DET
cblr-1780	831	20	possibility	possibility	NOUN
cblr-1780	831	21	of	of	ADP
cblr-1780	831	22	reducing	reduce	VERB
cblr-1780	831	23	tunneling	tunneling	NOUN
cblr-1780	831	24	via	via	ADP
cblr-1780	831	25	political	political	ADJ
cblr-1780	831	26	spending	spending	NOUN
cblr-1780	831	27	disclosure	disclosure	NOUN
cblr-1780	831	28	would	would	AUX
cblr-1780	831	29	appear	appear	VERB
cblr-1780	831	30	to	to	PART
cblr-1780	831	31	offer	offer	VERB
cblr-1780	831	32	a	a	DET
cblr-1780	831	33	more	more	ADV
cblr-1780	831	34	plausible	plausible	ADJ
cblr-1780	831	35	justification	justification	NOUN
cblr-1780	831	36	than	than	ADP
cblr-1780	831	37	positive	positive	ADJ
cblr-1780	831	38	externalities	externality	NOUN
cblr-1780	831	39	for	for	ADP
cblr-1780	831	40	requiring	require	VERB
cblr-1780	831	41	this	this	DET
cblr-1780	831	42	disclosure	disclosure	NOUN
cblr-1780	831	43	for	for	ADP
cblr-1780	831	44	two	two	NUM
cblr-1780	831	45	reasons	reason	NOUN
cblr-1780	831	46	.	.	PUNCT
cblr-1780	832	1	first	first	ADV
cblr-1780	832	2	,	,	PUNCT
cblr-1780	832	3	under	under	NOUN
cblr-1780	832	4	-	-	PUNCT
cblr-1780	832	5	disclosure	disclosure	NOUN
cblr-1780	832	6	to	to	PART
cblr-1780	832	7	facilitate	facilitate	VERB
cblr-1780	832	8	tunneling	tunneling	NOUN
cblr-1780	832	9	appears	appear	VERB
cblr-1780	832	10	to	to	PART
cblr-1780	832	11	be	be	AUX
cblr-1780	832	12	a	a	DET
cblr-1780	832	13	fairly	fairly	ADV
cblr-1780	832	14	common	common	ADJ
cblr-1780	832	15	phenomenon.190	phenomenon.190	ADJ
cblr-1780	832	16	second	second	ADJ
cblr-1780	832	17	,	,	PUNCT
cblr-1780	832	18	and	and	CCONJ
cblr-1780	832	19	more	more	ADV
cblr-1780	832	20	specifically	specifically	ADV
cblr-1780	832	21	,	,	PUNCT
cblr-1780	832	22	evidence	evidence	NOUN
cblr-1780	832	23	suggests	suggest	VERB
cblr-1780	832	24	that	that	SCONJ
cblr-1780	832	25	political	political	ADJ
cblr-1780	832	26	spending	spending	NOUN
cblr-1780	832	27	often	often	ADV
cblr-1780	832	28	constitutes	constitute	VERB
cblr-1780	832	29	a	a	DET
cblr-1780	832	30	form	form	NOUN
cblr-1780	832	31	of	of	ADP
cblr-1780	832	32	tunneling.191	tunneling.191	NOUN
cblr-1780	832	33	two	two	NUM
cblr-1780	832	34	pieces	piece	NOUN
cblr-1780	832	35	of	of	ADP
cblr-1780	832	36	evidence	evidence	NOUN
cblr-1780	832	37	,	,	PUNCT
cblr-1780	832	38	in	in	ADP
cblr-1780	832	39	particular	particular	ADJ
cblr-1780	832	40	,	,	PUNCT
cblr-1780	832	41	suggest	suggest	VERB
cblr-1780	832	42	that	that	SCONJ
cblr-1780	832	43	political	political	ADJ
cblr-1780	832	44	spending	spending	NOUN
cblr-1780	832	45	is	be	AUX
cblr-1780	832	46	often	often	ADV
cblr-1780	832	47	carried	carry	VERB
cblr-1780	832	48	out	out	ADP
cblr-1780	832	49	for	for	ADP
cblr-1780	832	50	the	the	DET
cblr-1780	832	51	benefit	benefit	NOUN
cblr-1780	832	52	of	of	ADP
cblr-1780	832	53	firm	firm	ADJ
cblr-1780	832	54	insiders	insider	NOUN
cblr-1780	832	55	rather	rather	ADV
cblr-1780	832	56	than	than	ADP
cblr-1780	832	57	for	for	ADP
cblr-1780	832	58	the	the	DET
cblr-1780	832	59	benefit	benefit	NOUN
cblr-1780	832	60	of	of	ADP
cblr-1780	832	61	the	the	DET
cblr-1780	832	62	firm	firm	NOUN
cblr-1780	832	63	as	as	ADP
cblr-1780	832	64	a	a	DET
cblr-1780	832	65	whole	whole	NOUN
cblr-1780	832	66	.	.	PUNCT
cblr-1780	833	1	first	first	ADV
cblr-1780	833	2	,	,	PUNCT
cblr-1780	833	3	there	there	PRON
cblr-1780	833	4	is	be	VERB
cblr-1780	833	5	a	a	DET
cblr-1780	833	6	high	high	ADJ
cblr-1780	833	7	correlation	correlation	NOUN
cblr-1780	833	8	between	between	ADP
cblr-1780	833	9	the	the	DET
cblr-1780	833	10	political	political	ADJ
cblr-1780	833	11	beliefs	belief	NOUN
cblr-1780	833	12	supported	support	VERB
cblr-1780	833	13	by	by	ADP
cblr-1780	833	14	the	the	DET
cblr-1780	833	15	firm	firm	NOUN
cblr-1780	833	16	and	and	CCONJ
cblr-1780	833	17	those	those	PRON
cblr-1780	833	18	held	hold	VERB
cblr-1780	833	19	by	by	ADP
cblr-1780	833	20	the	the	DET
cblr-1780	833	21	firm	firm	NOUN
cblr-1780	833	22	’s	’s	PART
cblr-1780	833	23	ceo.192	ceo.192	NOUN
cblr-1780	833	24	this	this	DET
cblr-1780	833	25	correlation	correlation	NOUN
cblr-1780	833	26	suggests	suggest	VERB
cblr-1780	833	27	that	that	SCONJ
cblr-1780	833	28	ceos	ceos	NOUN
cblr-1780	833	29	may	may	AUX
cblr-1780	833	30	be	be	AUX
cblr-1780	833	31	spending	spend	VERB
cblr-1780	833	32	firm	firm	ADJ
cblr-1780	833	33	resources	resource	NOUN
cblr-1780	833	34	to	to	PART
cblr-1780	833	35	support	support	VERB
cblr-1780	833	36	political	political	ADJ
cblr-1780	833	37	causes	cause	NOUN
cblr-1780	833	38	aligned	align	VERB
cblr-1780	833	39	with	with	ADP
cblr-1780	833	40	their	their	PRON
cblr-1780	833	41	own	own	ADJ
cblr-1780	833	42	188	188	NUM
cblr-1780	833	43	see	see	NOUN
cblr-1780	833	44	supra	supra	PROPN
cblr-1780	833	45	part	part	PROPN
cblr-1780	833	46	iii.b.1	iii.b.1	PROPN
cblr-1780	833	47	.	.	PROPN
cblr-1780	834	1	189	189	NUM
cblr-1780	834	2	see	see	VERB
cblr-1780	834	3	supra	supra	PROPN
cblr-1780	834	4	notes	note	VERB
cblr-1780	834	5	158	158	NUM
cblr-1780	834	6	and	and	CCONJ
cblr-1780	834	7	159	159	NUM
cblr-1780	834	8	and	and	CCONJ
cblr-1780	834	9	accompanying	accompany	VERB
cblr-1780	834	10	text	text	NOUN
cblr-1780	834	11	.	.	PUNCT
cblr-1780	835	1	190	190	NUM
cblr-1780	835	2	see	see	VERB
cblr-1780	835	3	supra	supra	PROPN
cblr-1780	835	4	part	part	PROPN
cblr-1780	835	5	iii.b.2	iii.b.2	PROPN
cblr-1780	835	6	.	.	PUNCT
cblr-1780	835	7	191	191	NUM
cblr-1780	835	8	see	see	NOUN
cblr-1780	835	9	,	,	PUNCT
cblr-1780	835	10	e.g.	e.g.	ADV
cblr-1780	835	11	,	,	PUNCT
cblr-1780	835	12	aggarwal	aggarwal	NOUN
cblr-1780	835	13	et	et	NOUN
cblr-1780	835	14	al	al	PROPN
cblr-1780	835	15	.	.	PROPN
cblr-1780	835	16	,	,	PUNCT
cblr-1780	835	17	supra	supra	PROPN
cblr-1780	835	18	note	note	PROPN
cblr-1780	835	19	16	16	NUM
cblr-1780	835	20	,	,	PUNCT
cblr-1780	835	21	at	at	ADP
cblr-1780	835	22	37	37	NUM
cblr-1780	835	23	.	.	PUNCT
cblr-1780	836	1	192	192	NUM
cblr-1780	836	2	aggarwal	aggarwal	NOUN
cblr-1780	836	3	et	et	NOUN
cblr-1780	836	4	al	al	PROPN
cblr-1780	836	5	.	.	PROPN
cblr-1780	836	6	,	,	PUNCT
cblr-1780	836	7	supra	supra	PROPN
cblr-1780	836	8	note	note	PROPN
cblr-1780	836	9	16	16	NUM
cblr-1780	836	10	,	,	PUNCT
cblr-1780	836	11	at	at	ADP
cblr-1780	836	12	11	11	NUM
cblr-1780	836	13	.	.	PUNCT
cblr-1780	837	1	guttentag	guttentag	NOUN
cblr-1780	837	2	–	–	PUNCT
cblr-1780	837	3	final	final	ADJ
cblr-1780	837	4	no	no	NOUN
cblr-1780	837	5	.	.	PUNCT
cblr-1780	838	1	3:593	3:593	NUM
cblr-1780	838	2	]	]	PUNCT
cblr-1780	838	3	on	on	ADP
cblr-1780	838	4	political	political	ADJ
cblr-1780	838	5	spending	spending	NOUN
cblr-1780	838	6	disclosure	disclosure	NOUN
cblr-1780	838	7	653	653	NUM
cblr-1780	838	8	personal	personal	ADJ
cblr-1780	838	9	political	political	ADJ
cblr-1780	838	10	beliefs	belief	NOUN
cblr-1780	838	11	,	,	PUNCT
cblr-1780	838	12	rather	rather	ADV
cblr-1780	838	13	than	than	ADP
cblr-1780	838	14	because	because	SCONJ
cblr-1780	838	15	these	these	DET
cblr-1780	838	16	expenditures	expenditure	NOUN
cblr-1780	838	17	are	be	AUX
cblr-1780	838	18	in	in	ADP
cblr-1780	838	19	the	the	DET
cblr-1780	838	20	best	good	ADJ
cblr-1780	838	21	interest	interest	NOUN
cblr-1780	838	22	of	of	ADP
cblr-1780	838	23	the	the	DET
cblr-1780	838	24	firm	firm	NOUN
cblr-1780	838	25	.	.	PUNCT
cblr-1780	839	1	there	there	PRON
cblr-1780	839	2	are	be	VERB
cblr-1780	839	3	,	,	PUNCT
cblr-1780	839	4	however	however	ADV
cblr-1780	839	5	,	,	PUNCT
cblr-1780	839	6	explanations	explanation	NOUN
cblr-1780	839	7	other	other	ADJ
cblr-1780	839	8	than	than	ADP
cblr-1780	839	9	self	self	NOUN
cblr-1780	839	10	-	-	PUNCT
cblr-1780	839	11	serving	serve	VERB
cblr-1780	839	12	political	political	ADJ
cblr-1780	839	13	spending	spending	NOUN
cblr-1780	839	14	that	that	PRON
cblr-1780	839	15	might	might	AUX
cblr-1780	839	16	explain	explain	VERB
cblr-1780	839	17	this	this	DET
cblr-1780	839	18	correlation	correlation	NOUN
cblr-1780	839	19	.	.	PUNCT
cblr-1780	840	1	for	for	ADP
cblr-1780	840	2	example	example	NOUN
cblr-1780	840	3	,	,	PUNCT
cblr-1780	840	4	ceos	ceos	PROPN
cblr-1780	840	5	may	may	AUX
cblr-1780	840	6	come	come	VERB
cblr-1780	840	7	to	to	PART
cblr-1780	840	8	personally	personally	ADV
cblr-1780	840	9	embrace	embrace	VERB
cblr-1780	840	10	the	the	DET
cblr-1780	840	11	political	political	ADJ
cblr-1780	840	12	beliefs	belief	NOUN
cblr-1780	840	13	that	that	PRON
cblr-1780	840	14	serve	serve	VERB
cblr-1780	840	15	the	the	DET
cblr-1780	840	16	best	good	ADJ
cblr-1780	840	17	interests	interest	NOUN
cblr-1780	840	18	of	of	ADP
cblr-1780	840	19	their	their	PRON
cblr-1780	840	20	firms	firm	NOUN
cblr-1780	840	21	,	,	PUNCT
cblr-1780	840	22	or	or	CCONJ
cblr-1780	840	23	ceos	ceos	NOUN
cblr-1780	840	24	may	may	AUX
cblr-1780	840	25	choose	choose	VERB
cblr-1780	840	26	to	to	PART
cblr-1780	840	27	work	work	VERB
cblr-1780	840	28	at	at	ADP
cblr-1780	840	29	firms	firm	NOUN
cblr-1780	840	30	whose	whose	DET
cblr-1780	840	31	political	political	ADJ
cblr-1780	840	32	interests	interest	NOUN
cblr-1780	840	33	are	be	AUX
cblr-1780	840	34	aligned	align	VERB
cblr-1780	840	35	with	with	ADP
cblr-1780	840	36	their	their	PRON
cblr-1780	840	37	own	own	ADJ
cblr-1780	840	38	personal	personal	ADJ
cblr-1780	840	39	political	political	ADJ
cblr-1780	840	40	beliefs	belief	NOUN
cblr-1780	840	41	.	.	PUNCT
cblr-1780	841	1	a	a	DET
cblr-1780	841	2	second	second	ADJ
cblr-1780	841	3	piece	piece	NOUN
cblr-1780	841	4	of	of	ADP
cblr-1780	841	5	evidence	evidence	NOUN
cblr-1780	841	6	suggesting	suggest	VERB
cblr-1780	841	7	that	that	SCONJ
cblr-1780	841	8	political	political	ADJ
cblr-1780	841	9	spending	spending	NOUN
cblr-1780	841	10	is	be	AUX
cblr-1780	841	11	not	not	PART
cblr-1780	841	12	solely	solely	ADV
cblr-1780	841	13	done	do	VERB
cblr-1780	841	14	to	to	PART
cblr-1780	841	15	benefit	benefit	VERB
cblr-1780	841	16	firm	firm	ADJ
cblr-1780	841	17	shareholders	shareholder	NOUN
cblr-1780	841	18	is	be	AUX
cblr-1780	841	19	that	that	SCONJ
cblr-1780	841	20	there	there	PRON
cblr-1780	841	21	is	be	VERB
cblr-1780	841	22	a	a	DET
cblr-1780	841	23	statistically	statistically	ADV
cblr-1780	841	24	significant	significant	ADJ
cblr-1780	841	25	correlation	correlation	NOUN
cblr-1780	841	26	between	between	ADP
cblr-1780	841	27	higher	high	ADJ
cblr-1780	841	28	levels	level	NOUN
cblr-1780	841	29	of	of	ADP
cblr-1780	841	30	political	political	ADJ
cblr-1780	841	31	spending	spending	NOUN
cblr-1780	841	32	and	and	CCONJ
cblr-1780	841	33	both	both	DET
cblr-1780	841	34	sub	sub	ADJ
cblr-1780	841	35	-	-	ADJ
cblr-1780	841	36	par	par	ADJ
cblr-1780	841	37	future	future	ADJ
cblr-1780	841	38	stock	stock	NOUN
cblr-1780	841	39	returns	return	NOUN
cblr-1780	841	40	and	and	CCONJ
cblr-1780	841	41	firm	firm	ADJ
cblr-1780	841	42	attributes	attribute	NOUN
cblr-1780	841	43	associated	associate	VERB
cblr-1780	841	44	with	with	ADP
cblr-1780	841	45	weak	weak	ADJ
cblr-1780	841	46	corporate	corporate	ADJ
cblr-1780	841	47	governance.193	governance.193	NOUN
cblr-1780	841	48	the	the	DET
cblr-1780	841	49	correlation	correlation	NOUN
cblr-1780	841	50	between	between	ADP
cblr-1780	841	51	political	political	ADJ
cblr-1780	841	52	spending	spending	NOUN
cblr-1780	841	53	and	and	CCONJ
cblr-1780	841	54	sub	sub	ADJ
cblr-1780	841	55	-	-	ADJ
cblr-1780	841	56	par	par	ADJ
cblr-1780	841	57	future	future	ADJ
cblr-1780	841	58	stock	stock	NOUN
cblr-1780	841	59	returns	return	NOUN
cblr-1780	841	60	might	might	AUX
cblr-1780	841	61	even	even	ADV
cblr-1780	841	62	naively	naively	ADV
cblr-1780	841	63	be	be	AUX
cblr-1780	841	64	taken	take	VERB
cblr-1780	841	65	as	as	ADP
cblr-1780	841	66	providing	provide	VERB
cblr-1780	841	67	evidence	evidence	NOUN
cblr-1780	841	68	that	that	SCONJ
cblr-1780	841	69	wasteful	wasteful	ADJ
cblr-1780	841	70	political	political	ADJ
cblr-1780	841	71	spending	spending	NOUN
cblr-1780	841	72	reduces	reduce	VERB
cblr-1780	841	73	firm	firm	ADJ
cblr-1780	841	74	value.194	value.194	NOUN
cblr-1780	841	75	the	the	DET
cblr-1780	841	76	correlation	correlation	NOUN
cblr-1780	841	77	between	between	ADP
cblr-1780	841	78	political	political	ADJ
cblr-1780	841	79	spending	spending	NOUN
cblr-1780	841	80	and	and	CCONJ
cblr-1780	841	81	weak	weak	ADJ
cblr-1780	841	82	corporate	corporate	ADJ
cblr-1780	841	83	governance	governance	NOUN
cblr-1780	841	84	similarly	similarly	ADV
cblr-1780	841	85	might	might	AUX
cblr-1780	841	86	suggest	suggest	VERB
cblr-1780	841	87	that	that	SCONJ
cblr-1780	841	88	much	much	ADJ
cblr-1780	841	89	political	political	ADJ
cblr-1780	841	90	spending	spending	NOUN
cblr-1780	841	91	is	be	AUX
cblr-1780	841	92	a	a	DET
cblr-1780	841	93	form	form	NOUN
cblr-1780	841	94	of	of	ADP
cblr-1780	841	95	tunneling	tunneling	NOUN
cblr-1780	841	96	,	,	PUNCT
cblr-1780	841	97	because	because	SCONJ
cblr-1780	841	98	the	the	DET
cblr-1780	841	99	level	level	NOUN
cblr-1780	841	100	of	of	ADP
cblr-1780	841	101	such	such	ADJ
cblr-1780	841	102	spending	spending	NOUN
cblr-1780	841	103	is	be	AUX
cblr-1780	841	104	elevated	elevate	VERB
cblr-1780	841	105	when	when	SCONJ
cblr-1780	841	106	the	the	DET
cblr-1780	841	107	mechanisms	mechanism	NOUN
cblr-1780	841	108	of	of	ADP
cblr-1780	841	109	corporate	corporate	ADJ
cblr-1780	841	110	governance	governance	NOUN
cblr-1780	841	111	are	be	AUX
cblr-1780	841	112	less	less	ADV
cblr-1780	841	113	constraining	constrain	VERB
cblr-1780	841	114	on	on	ADP
cblr-1780	841	115	self	self	NOUN
cblr-1780	841	116	-	-	PUNCT
cblr-1780	841	117	serving	serve	VERB
cblr-1780	841	118	behavior	behavior	NOUN
cblr-1780	841	119	generally	generally	ADV
cblr-1780	841	120	.	.	PUNCT
cblr-1780	842	1	there	there	PRON
cblr-1780	842	2	are	be	VERB
cblr-1780	842	3	,	,	PUNCT
cblr-1780	842	4	however	however	ADV
cblr-1780	842	5	,	,	PUNCT
cblr-1780	842	6	reasons	reason	NOUN
cblr-1780	842	7	to	to	PART
cblr-1780	842	8	be	be	AUX
cblr-1780	842	9	cautious	cautious	ADJ
cblr-1780	842	10	in	in	ADP
cblr-1780	842	11	inferring	infer	VERB
cblr-1780	842	12	causation	causation	NOUN
cblr-1780	842	13	from	from	ADP
cblr-1780	842	14	193	193	NUM
cblr-1780	842	15	the	the	DET
cblr-1780	842	16	study	study	NOUN
cblr-1780	842	17	by	by	ADP
cblr-1780	842	18	aggarwal	aggarwal	PROPN
cblr-1780	842	19	et	et	PROPN
cblr-1780	842	20	al	al	PROPN
cblr-1780	842	21	.	.	PROPN
cblr-1780	842	22	,	,	PUNCT
cblr-1780	842	23	for	for	ADP
cblr-1780	842	24	example	example	NOUN
cblr-1780	842	25	,	,	PUNCT
cblr-1780	842	26	reports	report	VERB
cblr-1780	842	27	several	several	ADJ
cblr-1780	842	28	indicia	indicia	NOUN
cblr-1780	842	29	of	of	ADP
cblr-1780	842	30	such	such	DET
cblr-1780	842	31	a	a	DET
cblr-1780	842	32	correlation	correlation	NOUN
cblr-1780	842	33	.	.	PUNCT
cblr-1780	843	1	first	first	ADV
cblr-1780	843	2	,	,	PUNCT
cblr-1780	843	3	aggarwal	aggarwal	NOUN
cblr-1780	843	4	et	et	NOUN
cblr-1780	843	5	al	al	PROPN
cblr-1780	843	6	.	.	PROPN
cblr-1780	843	7	find	find	VERB
cblr-1780	843	8	that	that	SCONJ
cblr-1780	843	9	firms	firm	NOUN
cblr-1780	843	10	with	with	ADP
cblr-1780	843	11	high	high	ADJ
cblr-1780	843	12	levels	level	NOUN
cblr-1780	843	13	of	of	ADP
cblr-1780	843	14	political	political	ADJ
cblr-1780	843	15	spending	spending	NOUN
cblr-1780	843	16	subsequently	subsequently	ADV
cblr-1780	843	17	generated	generate	VERB
cblr-1780	843	18	lower	low	ADJ
cblr-1780	843	19	returns	return	NOUN
cblr-1780	843	20	to	to	ADP
cblr-1780	843	21	the	the	DET
cblr-1780	843	22	firm	firm	NOUN
cblr-1780	843	23	’s	’s	PART
cblr-1780	843	24	shareholders	shareholder	NOUN
cblr-1780	843	25	.	.	PUNCT
cblr-1780	844	1	aggarwal	aggarwal	NOUN
cblr-1780	844	2	et	et	NOUN
cblr-1780	844	3	al	al	PROPN
cblr-1780	844	4	.	.	PROPN
cblr-1780	844	5	,	,	PUNCT
cblr-1780	844	6	supra	supra	PROPN
cblr-1780	844	7	note	note	PROPN
cblr-1780	844	8	16	16	NUM
cblr-1780	844	9	,	,	PUNCT
cblr-1780	844	10	at	at	ADP
cblr-1780	844	11	13–22	13–22	NUM
cblr-1780	844	12	.	.	PUNCT
cblr-1780	845	1	second	second	ADJ
cblr-1780	845	2	,	,	PUNCT
cblr-1780	845	3	aggarwal	aggarwal	NOUN
cblr-1780	845	4	et	et	NOUN
cblr-1780	845	5	al	al	PROPN
cblr-1780	845	6	.	.	PROPN
cblr-1780	845	7	find	find	VERB
cblr-1780	845	8	that	that	SCONJ
cblr-1780	845	9	measures	measure	NOUN
cblr-1780	845	10	of	of	ADP
cblr-1780	845	11	poor	poor	ADJ
cblr-1780	845	12	corporate	corporate	ADJ
cblr-1780	845	13	governance	governance	NOUN
cblr-1780	845	14	,	,	PUNCT
cblr-1780	845	15	including	include	VERB
cblr-1780	845	16	when	when	SCONJ
cblr-1780	845	17	a	a	DET
cblr-1780	845	18	ceo	ceo	NOUN
cblr-1780	845	19	is	be	AUX
cblr-1780	845	20	also	also	ADV
cblr-1780	845	21	chairman	chairman	NOUN
cblr-1780	845	22	of	of	ADP
cblr-1780	845	23	the	the	DET
cblr-1780	845	24	board	board	NOUN
cblr-1780	845	25	,	,	PUNCT
cblr-1780	845	26	when	when	SCONJ
cblr-1780	845	27	the	the	DET
cblr-1780	845	28	ceo	ceo	NOUN
cblr-1780	845	29	receives	receive	VERB
cblr-1780	845	30	abnormally	abnormally	ADV
cblr-1780	845	31	high	high	ADJ
cblr-1780	845	32	compensation	compensation	NOUN
cblr-1780	845	33	,	,	PUNCT
cblr-1780	845	34	when	when	SCONJ
cblr-1780	845	35	there	there	PRON
cblr-1780	845	36	is	be	VERB
cblr-1780	845	37	less	less	ADJ
cblr-1780	845	38	insider	insider	NOUN
cblr-1780	845	39	ownership	ownership	NOUN
cblr-1780	845	40	of	of	ADP
cblr-1780	845	41	the	the	DET
cblr-1780	845	42	firm	firm	NOUN
cblr-1780	845	43	,	,	PUNCT
cblr-1780	845	44	and	and	CCONJ
cblr-1780	845	45	when	when	SCONJ
cblr-1780	845	46	the	the	DET
cblr-1780	845	47	firm	firm	NOUN
cblr-1780	845	48	has	have	VERB
cblr-1780	845	49	fewer	few	ADJ
cblr-1780	845	50	block	block	NOUN
cblr-1780	845	51	or	or	CCONJ
cblr-1780	845	52	institutional	institutional	ADJ
cblr-1780	845	53	shareholders	shareholder	NOUN
cblr-1780	845	54	,	,	PUNCT
cblr-1780	845	55	are	be	AUX
cblr-1780	845	56	associated	associate	VERB
cblr-1780	845	57	with	with	ADP
cblr-1780	845	58	higher	high	ADJ
cblr-1780	845	59	amounts	amount	NOUN
cblr-1780	845	60	of	of	ADP
cblr-1780	845	61	political	political	ADJ
cblr-1780	845	62	spending	spending	NOUN
cblr-1780	845	63	.	.	PUNCT
cblr-1780	846	1	i	i	PRON
cblr-1780	846	2	d.	d.	VERB
cblr-1780	846	3	at	at	ADP
cblr-1780	846	4	22–25	22–25	NUM
cblr-1780	846	5	.	.	PUNCT
cblr-1780	847	1	aggarwal	aggarwal	NOUN
cblr-1780	847	2	et	et	PROPN
cblr-1780	847	3	al	al	PROPN
cblr-1780	847	4	.	.	PROPN
cblr-1780	848	1	conclude	conclude	VERB
cblr-1780	848	2	that	that	SCONJ
cblr-1780	848	3	their	their	PRON
cblr-1780	848	4	findings	finding	NOUN
cblr-1780	848	5	“	"	PUNCT
cblr-1780	848	6	support	support	VERB
cblr-1780	848	7	the	the	DET
cblr-1780	848	8	view	view	NOUN
cblr-1780	848	9	that	that	SCONJ
cblr-1780	848	10	lack	lack	NOUN
cblr-1780	848	11	of	of	ADP
cblr-1780	848	12	transparency	transparency	NOUN
cblr-1780	848	13	allows	allow	VERB
cblr-1780	848	14	donations	donation	NOUN
cblr-1780	848	15	to	to	PART
cblr-1780	848	16	function	function	VERB
cblr-1780	848	17	as	as	ADP
cblr-1780	848	18	a	a	DET
cblr-1780	848	19	form	form	NOUN
cblr-1780	848	20	of	of	ADP
cblr-1780	848	21	private	private	ADJ
cblr-1780	848	22	benefits	benefit	NOUN
cblr-1780	848	23	for	for	ADP
cblr-1780	848	24	managers	manager	NOUN
cblr-1780	848	25	.	.	PUNCT
cblr-1780	848	26	”	"	PUNCT
cblr-1780	849	1	i	i	PRON
cblr-1780	849	2	d.	d.	PROPN
cblr-1780	849	3	at	at	ADP
cblr-1780	849	4	37	37	NUM
cblr-1780	849	5	.	.	PUNCT
cblr-1780	850	1	coates	coate	NOUN
cblr-1780	850	2	carries	carry	VERB
cblr-1780	850	3	out	out	ADP
cblr-1780	850	4	a	a	DET
cblr-1780	850	5	similar	similar	ADJ
cblr-1780	850	6	empirical	empirical	ADJ
cblr-1780	850	7	research	research	NOUN
cblr-1780	850	8	project	project	NOUN
cblr-1780	850	9	,	,	PUNCT
cblr-1780	850	10	and	and	CCONJ
cblr-1780	850	11	his	his	PRON
cblr-1780	850	12	findings	finding	NOUN
cblr-1780	850	13	are	be	AUX
cblr-1780	850	14	similar	similar	ADJ
cblr-1780	850	15	.	.	PUNCT
cblr-1780	851	1	see	see	VERB
cblr-1780	851	2	coates	coate	NOUN
cblr-1780	851	3	,	,	PUNCT
cblr-1780	851	4	supra	supra	PROPN
cblr-1780	851	5	note	note	NOUN
cblr-1780	851	6	24	24	NUM
cblr-1780	851	7	,	,	PUNCT
cblr-1780	851	8	at	at	ADP
cblr-1780	851	9	658	658	NUM
cblr-1780	851	10	.	.	PUNCT
cblr-1780	852	1	coates	coate	NOUN
cblr-1780	852	2	also	also	ADV
cblr-1780	852	3	finds	find	VERB
cblr-1780	852	4	that	that	SCONJ
cblr-1780	852	5	higher	high	ADJ
cblr-1780	852	6	levels	level	NOUN
cblr-1780	852	7	of	of	ADP
cblr-1780	852	8	political	political	ADJ
cblr-1780	852	9	spending	spending	NOUN
cblr-1780	852	10	are	be	AUX
cblr-1780	852	11	correlated	correlate	VERB
cblr-1780	852	12	with	with	ADP
cblr-1780	852	13	various	various	ADJ
cblr-1780	852	14	indicia	indicia	NOUN
cblr-1780	852	15	of	of	ADP
cblr-1780	852	16	weak	weak	ADJ
cblr-1780	852	17	corporate	corporate	ADJ
cblr-1780	852	18	governance	governance	NOUN
cblr-1780	852	19	and	and	CCONJ
cblr-1780	852	20	greater	great	ADJ
cblr-1780	852	21	personal	personal	ADJ
cblr-1780	852	22	use	use	NOUN
cblr-1780	852	23	of	of	ADP
cblr-1780	852	24	corporate	corporate	ADJ
cblr-1780	852	25	jets	jet	NOUN
cblr-1780	852	26	.	.	PUNCT
cblr-1780	853	1	coates	coate	NOUN
cblr-1780	853	2	,	,	PUNCT
cblr-1780	853	3	supra	supra	PROPN
cblr-1780	853	4	note	note	NOUN
cblr-1780	853	5	24	24	NUM
cblr-1780	853	6	,	,	PUNCT
cblr-1780	853	7	at	at	ADP
cblr-1780	853	8	675–78	675–78	NOUN
cblr-1780	853	9	.	.	PROPN
cblr-1780	853	10	194	194	NUM
cblr-1780	853	11	but	but	CCONJ
cblr-1780	853	12	see	see	VERB
cblr-1780	853	13	supra	supra	PROPN
cblr-1780	853	14	notes	note	VERB
cblr-1780	853	15	183	183	NUM
cblr-1780	853	16	to	to	PART
cblr-1780	853	17	187	187	NUM
cblr-1780	853	18	and	and	CCONJ
cblr-1780	853	19	accompanying	accompany	VERB
cblr-1780	853	20	text	text	NOUN
cblr-1780	853	21	.	.	PUNCT
cblr-1780	854	1	guttentag	guttentag	NOUN
cblr-1780	854	2	–	–	PUNCT
cblr-1780	854	3	final	final	ADJ
cblr-1780	854	4	654	654	NUM
cblr-1780	854	5	columbia	columbia	PROPN
cblr-1780	854	6	business	business	NOUN
cblr-1780	854	7	law	law	PROPN
cblr-1780	854	8	review	review	NOUN
cblr-1780	855	1	[	[	X
cblr-1780	855	2	vol	vol	NOUN
cblr-1780	855	3	.	.	PUNCT
cblr-1780	855	4	2014	2014	NUM
cblr-1780	856	1	these	these	DET
cblr-1780	856	2	correlations	correlation	NOUN
cblr-1780	856	3	between	between	ADP
cblr-1780	856	4	higher	high	ADJ
cblr-1780	856	5	levels	level	NOUN
cblr-1780	856	6	of	of	ADP
cblr-1780	856	7	political	political	ADJ
cblr-1780	856	8	spending	spending	NOUN
cblr-1780	856	9	,	,	PUNCT
cblr-1780	856	10	sub	sub	ADJ
cblr-1780	856	11	-	-	ADJ
cblr-1780	856	12	par	par	ADJ
cblr-1780	856	13	future	future	ADJ
cblr-1780	856	14	stock	stock	NOUN
cblr-1780	856	15	returns	return	NOUN
cblr-1780	856	16	,	,	PUNCT
cblr-1780	856	17	and	and	CCONJ
cblr-1780	856	18	weaker	weak	ADJ
cblr-1780	856	19	corporate	corporate	ADJ
cblr-1780	856	20	governance	governance	NOUN
cblr-1780	856	21	,	,	PUNCT
cblr-1780	856	22	in	in	ADP
cblr-1780	856	23	addition	addition	NOUN
cblr-1780	856	24	to	to	ADP
cblr-1780	856	25	the	the	DET
cblr-1780	856	26	general	general	ADJ
cblr-1780	856	27	admonition	admonition	NOUN
cblr-1780	856	28	against	against	ADP
cblr-1780	856	29	inferring	infer	VERB
cblr-1780	856	30	causation	causation	NOUN
cblr-1780	856	31	from	from	ADP
cblr-1780	856	32	correlation.195	correlation.195	PROPN
cblr-1780	856	33	a	a	DET
cblr-1780	856	34	major	major	ADJ
cblr-1780	856	35	factor	factor	NOUN
cblr-1780	856	36	arguing	argue	VERB
cblr-1780	856	37	against	against	ADP
cblr-1780	856	38	there	there	PRON
cblr-1780	856	39	being	be	AUX
cblr-1780	856	40	a	a	DET
cblr-1780	856	41	causal	causal	ADJ
cblr-1780	856	42	link	link	NOUN
cblr-1780	856	43	between	between	ADP
cblr-1780	856	44	tunneling	tunnel	VERB
cblr-1780	856	45	via	via	ADP
cblr-1780	856	46	political	political	ADJ
cblr-1780	856	47	spending	spending	NOUN
cblr-1780	856	48	and	and	CCONJ
cblr-1780	856	49	a	a	DET
cblr-1780	856	50	decline	decline	NOUN
cblr-1780	856	51	in	in	ADP
cblr-1780	856	52	firm	firm	ADJ
cblr-1780	856	53	value	value	NOUN
cblr-1780	856	54	is	be	AUX
cblr-1780	856	55	the	the	DET
cblr-1780	856	56	very	very	ADV
cblr-1780	856	57	small	small	ADJ
cblr-1780	856	58	dollar	dollar	NOUN
cblr-1780	856	59	amounts	amount	NOUN
cblr-1780	856	60	involved	involve	VERB
cblr-1780	856	61	in	in	ADP
cblr-1780	856	62	political	political	ADJ
cblr-1780	856	63	spending	spending	NOUN
cblr-1780	856	64	as	as	ADP
cblr-1780	856	65	compared	compare	VERB
cblr-1780	856	66	to	to	ADP
cblr-1780	856	67	the	the	DET
cblr-1780	856	68	observable	observable	ADJ
cblr-1780	856	69	effects	effect	NOUN
cblr-1780	856	70	on	on	ADP
cblr-1780	856	71	firm	firm	ADJ
cblr-1780	856	72	value	value	NOUN
cblr-1780	856	73	.	.	PUNCT
cblr-1780	857	1	recall	recall	VERB
cblr-1780	857	2	that	that	SCONJ
cblr-1780	857	3	each	each	DET
cblr-1780	857	4	dollar	dollar	NOUN
cblr-1780	857	5	spent	spend	VERB
cblr-1780	857	6	on	on	ADP
cblr-1780	857	7	politics	politic	NOUN
cblr-1780	857	8	is	be	AUX
cblr-1780	857	9	correlated	correlate	VERB
cblr-1780	857	10	with	with	ADP
cblr-1780	857	11	a	a	DET
cblr-1780	857	12	$	$	SYM
cblr-1780	857	13	130	130	NUM
cblr-1780	857	14	future	future	ADJ
cblr-1780	857	15	decline	decline	NOUN
cblr-1780	857	16	in	in	ADP
cblr-1780	857	17	firm	firm	ADJ
cblr-1780	857	18	value.196	value.196	ADV
cblr-1780	857	19	because	because	SCONJ
cblr-1780	857	20	the	the	DET
cblr-1780	857	21	statistical	statistical	ADJ
cblr-1780	857	22	significance	significance	NOUN
cblr-1780	857	23	of	of	ADP
cblr-1780	857	24	political	political	ADJ
cblr-1780	857	25	spending	spending	NOUN
cblr-1780	857	26	evidently	evidently	ADV
cblr-1780	857	27	comes	come	VERB
cblr-1780	857	28	from	from	ADP
cblr-1780	857	29	its	its	PRON
cblr-1780	857	30	role	role	NOUN
cblr-1780	857	31	as	as	ADP
cblr-1780	857	32	an	an	DET
cblr-1780	857	33	informative	informative	ADJ
cblr-1780	857	34	signal	signal	NOUN
cblr-1780	857	35	,	,	PUNCT
cblr-1780	857	36	correlations	correlation	NOUN
cblr-1780	857	37	between	between	ADP
cblr-1780	857	38	political	political	ADJ
cblr-1780	857	39	spending	spending	NOUN
cblr-1780	857	40	,	,	PUNCT
cblr-1780	857	41	future	future	ADJ
cblr-1780	857	42	stock	stock	NOUN
cblr-1780	857	43	returns	return	NOUN
cblr-1780	857	44	,	,	PUNCT
cblr-1780	857	45	and	and	CCONJ
cblr-1780	857	46	corporate	corporate	ADJ
cblr-1780	857	47	governance	governance	NOUN
cblr-1780	857	48	are	be	AUX
cblr-1780	857	49	more	more	ADV
cblr-1780	857	50	likely	likely	ADJ
cblr-1780	857	51	to	to	PART
cblr-1780	857	52	be	be	AUX
cblr-1780	857	53	the	the	DET
cblr-1780	857	54	result	result	NOUN
cblr-1780	857	55	of	of	ADP
cblr-1780	857	56	altering	alter	VERB
cblr-1780	857	57	the	the	DET
cblr-1780	857	58	nature	nature	NOUN
cblr-1780	857	59	of	of	ADP
cblr-1780	857	60	the	the	DET
cblr-1780	857	61	signaling	signal	VERB
cblr-1780	857	62	effect	effect	NOUN
cblr-1780	857	63	,	,	PUNCT
cblr-1780	857	64	rather	rather	ADV
cblr-1780	857	65	than	than	ADP
cblr-1780	857	66	evidence	evidence	NOUN
cblr-1780	857	67	of	of	ADP
cblr-1780	857	68	a	a	DET
cblr-1780	857	69	causal	causal	ADJ
cblr-1780	857	70	relationship	relationship	NOUN
cblr-1780	857	71	.	.	PUNCT
cblr-1780	858	1	but	but	CCONJ
cblr-1780	858	2	,	,	PUNCT
cblr-1780	858	3	more	more	ADV
cblr-1780	858	4	importantly	importantly	ADV
cblr-1780	858	5	,	,	PUNCT
cblr-1780	858	6	the	the	DET
cblr-1780	858	7	relevant	relevant	ADJ
cblr-1780	858	8	question	question	NOUN
cblr-1780	858	9	is	be	AUX
cblr-1780	858	10	not	not	PART
cblr-1780	858	11	whether	whether	SCONJ
cblr-1780	858	12	political	political	ADJ
cblr-1780	858	13	spending	spending	NOUN
cblr-1780	858	14	sometimes	sometimes	ADV
cblr-1780	858	15	constitutes	constitute	VERB
cblr-1780	858	16	tunneling	tunneling	NOUN
cblr-1780	858	17	,	,	PUNCT
cblr-1780	858	18	but	but	CCONJ
cblr-1780	858	19	rather	rather	ADV
cblr-1780	858	20	whether	whether	SCONJ
cblr-1780	858	21	mandatory	mandatory	ADJ
cblr-1780	858	22	disclosure	disclosure	NOUN
cblr-1780	858	23	of	of	ADP
cblr-1780	858	24	political	political	ADJ
cblr-1780	858	25	spending	spending	NOUN
cblr-1780	858	26	is	be	AUX
cblr-1780	858	27	likely	likely	ADJ
cblr-1780	858	28	to	to	PART
cblr-1780	858	29	be	be	AUX
cblr-1780	858	30	a	a	DET
cblr-1780	858	31	cost	cost	NOUN
cblr-1780	858	32	-	-	PUNCT
cblr-1780	858	33	effective	effective	ADJ
cblr-1780	858	34	means	mean	NOUN
cblr-1780	858	35	of	of	ADP
cblr-1780	858	36	reducing	reduce	VERB
cblr-1780	858	37	political	political	ADJ
cblr-1780	858	38	spending	spending	NOUN
cblr-1780	858	39	that	that	PRON
cblr-1780	858	40	does	do	AUX
cblr-1780	858	41	not	not	PART
cblr-1780	858	42	benefit	benefit	VERB
cblr-1780	858	43	the	the	DET
cblr-1780	858	44	firm	firm	NOUN
cblr-1780	858	45	.	.	PUNCT
cblr-1780	859	1	there	there	PRON
cblr-1780	859	2	are	be	VERB
cblr-1780	859	3	three	three	NUM
cblr-1780	859	4	pieces	piece	NOUN
cblr-1780	859	5	of	of	ADP
cblr-1780	859	6	evidence	evidence	NOUN
cblr-1780	859	7	that	that	PRON
cblr-1780	859	8	suggest	suggest	AUX
cblr-1780	859	9	mandating	mandate	VERB
cblr-1780	859	10	disclosure	disclosure	NOUN
cblr-1780	859	11	of	of	ADP
cblr-1780	859	12	political	political	ADJ
cblr-1780	859	13	spending	spending	NOUN
cblr-1780	859	14	would	would	AUX
cblr-1780	859	15	not	not	PART
cblr-1780	859	16	provide	provide	VERB
cblr-1780	859	17	a	a	DET
cblr-1780	859	18	cost	cost	NOUN
cblr-1780	859	19	-	-	PUNCT
cblr-1780	859	20	effective	effective	ADJ
cblr-1780	859	21	means	mean	NOUN
cblr-1780	859	22	to	to	PART
cblr-1780	859	23	reduce	reduce	VERB
cblr-1780	859	24	this	this	DET
cblr-1780	859	25	form	form	NOUN
cblr-1780	859	26	of	of	ADP
cblr-1780	859	27	tunneling	tunneling	NOUN
cblr-1780	859	28	,	,	PUNCT
cblr-1780	859	29	each	each	PRON
cblr-1780	859	30	discussed	discuss	VERB
cblr-1780	859	31	more	more	ADV
cblr-1780	859	32	fully	fully	ADV
cblr-1780	859	33	below	below	ADV
cblr-1780	859	34	.	.	PUNCT
cblr-1780	860	1	first	first	ADV
cblr-1780	860	2	,	,	PUNCT
cblr-1780	860	3	the	the	DET
cblr-1780	860	4	dollar	dollar	NOUN
cblr-1780	860	5	amounts	amount	NOUN
cblr-1780	860	6	involved	involve	VERB
cblr-1780	860	7	in	in	ADP
cblr-1780	860	8	political	political	ADJ
cblr-1780	860	9	spending	spending	NOUN
cblr-1780	860	10	are	be	AUX
cblr-1780	860	11	so	so	ADV
cblr-1780	860	12	trivially	trivially	ADV
cblr-1780	860	13	small	small	ADJ
cblr-1780	860	14	that	that	SCONJ
cblr-1780	860	15	it	it	PRON
cblr-1780	860	16	seems	seem	VERB
cblr-1780	860	17	unlikely	unlikely	ADJ
cblr-1780	860	18	that	that	SCONJ
cblr-1780	860	19	any	any	DET
cblr-1780	860	20	disclosure	disclosure	NOUN
cblr-1780	860	21	requirement	requirement	NOUN
cblr-1780	860	22	related	relate	VERB
cblr-1780	860	23	to	to	ADP
cblr-1780	860	24	such	such	ADJ
cblr-1780	860	25	spending	spending	NOUN
cblr-1780	860	26	could	could	AUX
cblr-1780	860	27	be	be	AUX
cblr-1780	860	28	justified	justify	VERB
cblr-1780	860	29	solely	solely	ADV
cblr-1780	860	30	based	base	VERB
cblr-1780	860	31	on	on	ADP
cblr-1780	860	32	the	the	DET
cblr-1780	860	33	benefits	benefit	NOUN
cblr-1780	860	34	from	from	ADP
cblr-1780	860	35	reducing	reduce	VERB
cblr-1780	860	36	tunneling	tunneling	NOUN
cblr-1780	860	37	.	.	PUNCT
cblr-1780	861	1	second	second	ADJ
cblr-1780	861	2	,	,	PUNCT
cblr-1780	861	3	the	the	DET
cblr-1780	861	4	related	relate	VERB
cblr-1780	861	5	british	british	ADJ
cblr-1780	861	6	experience	experience	NOUN
cblr-1780	861	7	suggests	suggest	VERB
cblr-1780	861	8	such	such	ADJ
cblr-1780	861	9	requirements	requirement	NOUN
cblr-1780	861	10	will	will	AUX
cblr-1780	861	11	not	not	PART
cblr-1780	861	12	have	have	VERB
cblr-1780	861	13	a	a	DET
cblr-1780	861	14	significant	significant	ADJ
cblr-1780	861	15	deterrent	deterrent	NOUN
cblr-1780	861	16	effect	effect	NOUN
cblr-1780	861	17	.	.	PUNCT
cblr-1780	862	1	third	third	ADV
cblr-1780	862	2	,	,	PUNCT
cblr-1780	862	3	previously	previously	ADV
cblr-1780	862	4	unpublished	unpublished	ADJ
cblr-1780	862	5	findings	finding	NOUN
cblr-1780	862	6	from	from	ADP
cblr-1780	862	7	the	the	DET
cblr-1780	862	8	aggarwal	aggarwal	NOUN
cblr-1780	862	9	et	et	PROPN
cblr-1780	862	10	al	al	PROPN
cblr-1780	862	11	.	.	PROPN
cblr-1780	862	12	research	research	NOUN
cblr-1780	862	13	are	be	AUX
cblr-1780	862	14	not	not	PART
cblr-1780	862	15	supportive	supportive	ADJ
cblr-1780	862	16	,	,	PUNCT
cblr-1780	862	17	despite	despite	SCONJ
cblr-1780	862	18	appearances	appearance	NOUN
cblr-1780	862	19	,	,	PUNCT
cblr-1780	862	20	of	of	ADP
cblr-1780	862	21	a	a	DET
cblr-1780	862	22	causal	causal	NOUN
cblr-1780	862	23	link	link	NOUN
cblr-1780	862	24	between	between	ADP
cblr-1780	862	25	more	more	ADJ
cblr-1780	862	26	transparency	transparency	NOUN
cblr-1780	862	27	and	and	CCONJ
cblr-1780	862	28	less	less	ADV
cblr-1780	862	29	wasteful	wasteful	ADJ
cblr-1780	862	30	political	political	ADJ
cblr-1780	862	31	spending	spending	NOUN
cblr-1780	862	32	.	.	PUNCT
cblr-1780	863	1	195	195	NUM
cblr-1780	863	2	see	see	NOUN
cblr-1780	863	3	,	,	PUNCT
cblr-1780	863	4	e.g.	e.g.	ADV
cblr-1780	863	5	,	,	PUNCT
cblr-1780	863	6	robert	robert	PROPN
cblr-1780	863	7	m.	m.	PROPN
cblr-1780	863	8	lawless	lawless	PROPN
cblr-1780	863	9	,	,	PUNCT
cblr-1780	863	10	jennifer	jennifer	PROPN
cblr-1780	863	11	k.	k.	PROPN
cblr-1780	863	12	robbennolt	robbennolt	PROPN
cblr-1780	863	13	&	&	CCONJ
cblr-1780	863	14	thomas	thomas	PROPN
cblr-1780	863	15	s.	s.	PROPN
cblr-1780	863	16	ulen	ulen	PROPN
cblr-1780	863	17	,	,	PUNCT
cblr-1780	863	18	empirical	empirical	ADJ
cblr-1780	863	19	methods	method	NOUN
cblr-1780	863	20	in	in	ADP
cblr-1780	863	21	law	law	NOUN
cblr-1780	863	22	290	290	NUM
cblr-1780	863	23	(	(	PUNCT
cblr-1780	863	24	1st	1st	ADJ
cblr-1780	863	25	ed	ed	NOUN
cblr-1780	863	26	.	.	PUNCT
cblr-1780	863	27	2010	2010	NUM
cblr-1780	863	28	)	)	PUNCT
cblr-1780	863	29	.	.	PUNCT
cblr-1780	864	1	196	196	NUM
cblr-1780	864	2	aggarwal	aggarwal	NOUN
cblr-1780	864	3	et	et	NOUN
cblr-1780	864	4	al	al	PROPN
cblr-1780	864	5	.	.	PROPN
cblr-1780	864	6	,	,	PUNCT
cblr-1780	864	7	supra	supra	PROPN
cblr-1780	864	8	note	note	PROPN
cblr-1780	864	9	16	16	NUM
cblr-1780	864	10	,	,	PUNCT
cblr-1780	864	11	at	at	ADP
cblr-1780	864	12	15	15	NUM
cblr-1780	864	13	.	.	PUNCT
cblr-1780	865	1	see	see	VERB
cblr-1780	865	2	also	also	ADV
cblr-1780	865	3	supra	supra	ADJ
cblr-1780	865	4	notes	note	VERB
cblr-1780	865	5	182	182	NUM
cblr-1780	865	6	to	to	ADP
cblr-1780	865	7	184	184	NUM
cblr-1780	865	8	and	and	CCONJ
cblr-1780	865	9	accompanying	accompany	VERB
cblr-1780	865	10	text	text	NOUN
cblr-1780	865	11	.	.	PUNCT
cblr-1780	866	1	guttentag	guttentag	NOUN
cblr-1780	866	2	–	–	PUNCT
cblr-1780	866	3	final	final	ADJ
cblr-1780	866	4	no	no	NOUN
cblr-1780	866	5	.	.	PUNCT
cblr-1780	867	1	3:593	3:593	NUM
cblr-1780	867	2	]	]	PUNCT
cblr-1780	867	3	on	on	ADP
cblr-1780	867	4	political	political	ADJ
cblr-1780	867	5	spending	spending	NOUN
cblr-1780	867	6	disclosure	disclosure	NOUN
cblr-1780	867	7	655	655	NUM
cblr-1780	867	8	the	the	DET
cblr-1780	867	9	first	first	ADJ
cblr-1780	867	10	reason	reason	NOUN
cblr-1780	867	11	to	to	PART
cblr-1780	867	12	doubt	doubt	VERB
cblr-1780	867	13	that	that	SCONJ
cblr-1780	867	14	a	a	DET
cblr-1780	867	15	political	political	ADJ
cblr-1780	867	16	spending	spending	NOUN
cblr-1780	867	17	disclosure	disclosure	NOUN
cblr-1780	867	18	requirement	requirement	NOUN
cblr-1780	867	19	will	will	AUX
cblr-1780	867	20	deter	deter	VERB
cblr-1780	867	21	self	self	NOUN
cblr-1780	867	22	-	-	PUNCT
cblr-1780	867	23	serving	serve	VERB
cblr-1780	867	24	political	political	ADJ
cblr-1780	867	25	spending	spending	NOUN
cblr-1780	867	26	in	in	ADP
cblr-1780	867	27	a	a	DET
cblr-1780	867	28	cost	cost	NOUN
cblr-1780	867	29	-	-	PUNCT
cblr-1780	867	30	effective	effective	ADJ
cblr-1780	867	31	manner	manner	NOUN
cblr-1780	867	32	is	be	AUX
cblr-1780	867	33	that	that	SCONJ
cblr-1780	867	34	,	,	PUNCT
cblr-1780	867	35	even	even	ADV
cblr-1780	867	36	in	in	ADP
cblr-1780	867	37	the	the	DET
cblr-1780	867	38	best	good	ADJ
cblr-1780	867	39	case	case	NOUN
cblr-1780	867	40	,	,	PUNCT
cblr-1780	867	41	the	the	DET
cblr-1780	867	42	potential	potential	ADJ
cblr-1780	867	43	deterrent	deterrent	NOUN
cblr-1780	867	44	benefits	benefit	NOUN
cblr-1780	867	45	these	these	DET
cblr-1780	867	46	disclosures	disclosure	NOUN
cblr-1780	867	47	might	might	AUX
cblr-1780	867	48	provide	provide	VERB
cblr-1780	867	49	are	be	AUX
cblr-1780	867	50	going	go	VERB
cblr-1780	867	51	to	to	PART
cblr-1780	867	52	be	be	AUX
cblr-1780	867	53	very	very	ADV
cblr-1780	867	54	small.197	small.197	ADJ
cblr-1780	867	55	for	for	ADP
cblr-1780	867	56	example	example	NOUN
cblr-1780	867	57	,	,	PUNCT
cblr-1780	867	58	the	the	DET
cblr-1780	867	59	average	average	ADJ
cblr-1780	867	60	annual	annual	ADJ
cblr-1780	867	61	political	political	ADJ
cblr-1780	867	62	spending	spending	NOUN
cblr-1780	867	63	by	by	ADP
cblr-1780	867	64	the	the	DET
cblr-1780	867	65	firms	firm	NOUN
cblr-1780	867	66	studied	study	VERB
cblr-1780	867	67	by	by	ADP
cblr-1780	867	68	aggarwal	aggarwal	PROPN
cblr-1780	867	69	et	et	PROPN
cblr-1780	867	70	al	al	PROPN
cblr-1780	867	71	.	.	PROPN
cblr-1780	867	72	was	be	AUX
cblr-1780	867	73	$	$	SYM
cblr-1780	867	74	44,000.198	44,000.198	NOUN
cblr-1780	867	75	another	another	DET
cblr-1780	867	76	estimate	estimate	NOUN
cblr-1780	867	77	of	of	ADP
cblr-1780	867	78	the	the	DET
cblr-1780	867	79	amounts	amount	NOUN
cblr-1780	867	80	of	of	ADP
cblr-1780	867	81	political	political	ADJ
cblr-1780	867	82	spending	spending	NOUN
cblr-1780	867	83	per	per	ADP
cblr-1780	867	84	public	public	ADJ
cblr-1780	867	85	company	company	NOUN
cblr-1780	867	86	can	can	AUX
cblr-1780	867	87	be	be	AUX
cblr-1780	867	88	derived	derive	VERB
cblr-1780	867	89	by	by	ADP
cblr-1780	867	90	considering	consider	VERB
cblr-1780	867	91	the	the	DET
cblr-1780	867	92	work	work	NOUN
cblr-1780	867	93	of	of	ADP
cblr-1780	867	94	bonica	bonica	NOUN
cblr-1780	867	95	discussed	discuss	VERB
cblr-1780	867	96	above.199	above.199	PROPN
cblr-1780	867	97	bonica	bonica	NOUN
cblr-1780	867	98	conservatively	conservatively	ADV
cblr-1780	867	99	estimated	estimate	VERB
cblr-1780	867	100	that	that	SCONJ
cblr-1780	867	101	the	the	DET
cblr-1780	867	102	combined	combined	ADJ
cblr-1780	867	103	political	political	ADJ
cblr-1780	867	104	spending	spending	NOUN
cblr-1780	867	105	by	by	ADP
cblr-1780	867	106	both	both	CCONJ
cblr-1780	867	107	public	public	ADJ
cblr-1780	867	108	and	and	CCONJ
cblr-1780	867	109	private	private	ADJ
cblr-1780	867	110	firms	firm	NOUN
cblr-1780	867	111	in	in	ADP
cblr-1780	867	112	the	the	DET
cblr-1780	867	113	2012	2012	NUM
cblr-1780	867	114	election	election	NOUN
cblr-1780	867	115	cycle	cycle	NOUN
cblr-1780	867	116	was	be	AUX
cblr-1780	867	117	not	not	PART
cblr-1780	867	118	more	more	ADJ
cblr-1780	867	119	than	than	ADP
cblr-1780	867	120	$	$	SYM
cblr-1780	867	121	400	400	NUM
cblr-1780	867	122	million.200	million.200	NOUN
cblr-1780	867	123	if	if	SCONJ
cblr-1780	867	124	we	we	PRON
cblr-1780	867	125	also	also	ADV
cblr-1780	867	126	conservatively	conservatively	ADV
cblr-1780	867	127	assume	assume	VERB
cblr-1780	867	128	this	this	PRON
cblr-1780	867	129	was	be	AUX
cblr-1780	867	130	all	all	PRON
cblr-1780	867	131	spent	spend	VERB
cblr-1780	867	132	only	only	ADV
cblr-1780	867	133	by	by	ADP
cblr-1780	867	134	public	public	ADJ
cblr-1780	867	135	firms	firm	NOUN
cblr-1780	867	136	,	,	PUNCT
cblr-1780	867	137	then	then	ADV
cblr-1780	867	138	,	,	PUNCT
cblr-1780	867	139	since	since	SCONJ
cblr-1780	867	140	there	there	PRON
cblr-1780	867	141	are	be	VERB
cblr-1780	867	142	approximately	approximately	ADV
cblr-1780	867	143	5,000	5,000	NUM
cblr-1780	867	144	public	public	ADJ
cblr-1780	867	145	firms	firm	NOUN
cblr-1780	867	146	in	in	ADP
cblr-1780	867	147	the	the	DET
cblr-1780	867	148	united	united	PROPN
cblr-1780	867	149	states	states	PROPN
cblr-1780	867	150	,	,	PUNCT
cblr-1780	867	151	the	the	DET
cblr-1780	867	152	aggregate	aggregate	ADJ
cblr-1780	867	153	amount	amount	NOUN
cblr-1780	867	154	of	of	ADP
cblr-1780	867	155	political	political	ADJ
cblr-1780	867	156	spending	spending	NOUN
cblr-1780	867	157	by	by	ADP
cblr-1780	867	158	public	public	ADJ
cblr-1780	867	159	firms	firm	NOUN
cblr-1780	867	160	would	would	AUX
cblr-1780	867	161	be	be	AUX
cblr-1780	867	162	$	$	SYM
cblr-1780	867	163	80,000	80,000	NUM
cblr-1780	867	164	per	per	ADP
cblr-1780	867	165	firm.201	firm.201	NOUN
cblr-1780	867	166	even	even	ADV
cblr-1780	867	167	if	if	SCONJ
cblr-1780	867	168	the	the	DET
cblr-1780	867	169	entire	entire	ADJ
cblr-1780	867	170	amount	amount	NOUN
cblr-1780	867	171	of	of	ADP
cblr-1780	867	172	a	a	DET
cblr-1780	867	173	range	range	NOUN
cblr-1780	867	174	between	between	ADP
cblr-1780	867	175	$	$	SYM
cblr-1780	867	176	2,000	2,000	NUM
cblr-1780	867	177	and	and	CCONJ
cblr-1780	867	178	$	$	SYM
cblr-1780	867	179	80,000	80,000	NUM
cblr-1780	867	180	per	per	ADP
cblr-1780	867	181	firm	firm	NOUN
cblr-1780	867	182	was	be	AUX
cblr-1780	867	183	wasteful	wasteful	ADJ
cblr-1780	867	184	and	and	CCONJ
cblr-1780	867	185	entirely	entirely	ADV
cblr-1780	867	186	eliminated	eliminate	VERB
cblr-1780	867	187	by	by	ADP
cblr-1780	867	188	a	a	DET
cblr-1780	867	189	political	political	ADJ
cblr-1780	867	190	spending	spending	NOUN
cblr-1780	867	191	disclosure	disclosure	NOUN
cblr-1780	867	192	requirement	requirement	NOUN
cblr-1780	867	193	,	,	PUNCT
cblr-1780	867	194	these	these	DET
cblr-1780	867	195	savings	saving	NOUN
cblr-1780	867	196	would	would	AUX
cblr-1780	867	197	probably	probably	ADV
cblr-1780	867	198	not	not	PART
cblr-1780	867	199	be	be	AUX
cblr-1780	867	200	sufficient	sufficient	ADJ
cblr-1780	867	201	to	to	PART
cblr-1780	867	202	offset	offset	VERB
cblr-1780	867	203	a	a	DET
cblr-1780	867	204	reasonable	reasonable	ADJ
cblr-1780	867	205	estimate	estimate	NOUN
cblr-1780	867	206	of	of	ADP
cblr-1780	867	207	the	the	DET
cblr-1780	867	208	costs	cost	NOUN
cblr-1780	867	209	of	of	ADP
cblr-1780	867	210	mandating	mandate	VERB
cblr-1780	867	211	disclosure	disclosure	NOUN
cblr-1780	867	212	of	of	ADP
cblr-1780	867	213	political	political	ADJ
cblr-1780	867	214	spending	spending	NOUN
cblr-1780	867	215	by	by	ADP
cblr-1780	867	216	all	all	DET
cblr-1780	867	217	public	public	ADJ
cblr-1780	867	218	companies.202	companies.202	PROPN
cblr-1780	867	219	197	197	NUM
cblr-1780	867	220	see	see	VERB
cblr-1780	867	221	supra	supra	PROPN
cblr-1780	867	222	notes	note	VERB
cblr-1780	867	223	168–177	168–177	NUM
cblr-1780	867	224	and	and	CCONJ
cblr-1780	867	225	accompanying	accompany	VERB
cblr-1780	867	226	text	text	NOUN
cblr-1780	867	227	.	.	PUNCT
cblr-1780	868	1	198	198	NUM
cblr-1780	868	2	aggarwal	aggarwal	NOUN
cblr-1780	868	3	et	et	NOUN
cblr-1780	868	4	al	al	PROPN
cblr-1780	868	5	.	.	PROPN
cblr-1780	868	6	,	,	PUNCT
cblr-1780	868	7	supra	supra	PROPN
cblr-1780	868	8	note	note	PROPN
cblr-1780	868	9	16	16	NUM
cblr-1780	868	10	,	,	PUNCT
cblr-1780	868	11	at	at	ADP
cblr-1780	868	12	7	7	NUM
cblr-1780	868	13	(	(	PUNCT
cblr-1780	868	14	this	this	DET
cblr-1780	868	15	amount	amount	NOUN
cblr-1780	868	16	only	only	ADV
cblr-1780	868	17	includes	include	VERB
cblr-1780	868	18	the	the	DET
cblr-1780	868	19	donations	donation	NOUN
cblr-1780	868	20	made	make	VERB
cblr-1780	868	21	in	in	ADP
cblr-1780	868	22	the	the	DET
cblr-1780	868	23	form	form	NOUN
cblr-1780	868	24	of	of	ADP
cblr-1780	868	25	soft	soft	ADJ
cblr-1780	868	26	money	money	NOUN
cblr-1780	868	27	contributions	contribution	NOUN
cblr-1780	868	28	and	and	CCONJ
cblr-1780	868	29	527	527	NUM
cblr-1780	868	30	committee	committee	NOUN
cblr-1780	868	31	donations	donation	NOUN
cblr-1780	868	32	listed	list	VERB
cblr-1780	868	33	in	in	ADP
cblr-1780	868	34	panel	panel	NOUN
cblr-1780	868	35	a	a	PRON
cblr-1780	868	36	,	,	PUNCT
cblr-1780	868	37	table	table	NOUN
cblr-1780	868	38	1	1	NUM
cblr-1780	868	39	,	,	PUNCT
cblr-1780	868	40	because	because	SCONJ
cblr-1780	868	41	pac	pac	PROPN
cblr-1780	868	42	donations	donation	NOUN
cblr-1780	868	43	and	and	CCONJ
cblr-1780	868	44	individual	individual	ADJ
cblr-1780	868	45	money	money	NOUN
cblr-1780	868	46	donations	donation	NOUN
cblr-1780	868	47	are	be	AUX
cblr-1780	868	48	not	not	PART
cblr-1780	868	49	expenditures	expenditure	NOUN
cblr-1780	868	50	funded	fund	VERB
cblr-1780	868	51	by	by	ADP
cblr-1780	868	52	the	the	DET
cblr-1780	868	53	firm	firm	NOUN
cblr-1780	868	54	,	,	PUNCT
cblr-1780	868	55	i	i	PRON
cblr-1780	868	56	d.	d.	VERB
cblr-1780	868	57	at	at	ADP
cblr-1780	868	58	5	5	NUM
cblr-1780	868	59	)	)	PUNCT
cblr-1780	868	60	.	.	PUNCT
cblr-1780	869	1	199	199	NUM
cblr-1780	869	2	bonica	bonica	NOUN
cblr-1780	869	3	,	,	PUNCT
cblr-1780	869	4	supra	supra	PROPN
cblr-1780	869	5	note	note	NOUN
cblr-1780	869	6	168	168	NUM
cblr-1780	869	7	.	.	PUNCT
cblr-1780	870	1	200	200	NUM
cblr-1780	870	2	i	i	PROPN
cblr-1780	870	3	d.	d.	PROPN
cblr-1780	870	4	at	at	ADP
cblr-1780	870	5	1	1	NUM
cblr-1780	870	6	.	.	PUNCT
cblr-1780	870	7	201	201	NUM
cblr-1780	870	8	see	see	NOUN
cblr-1780	870	9	strumpf	strumpf	NOUN
cblr-1780	870	10	,	,	PUNCT
cblr-1780	870	11	supra	supra	PROPN
cblr-1780	870	12	note	note	NOUN
cblr-1780	870	13	133	133	NUM
cblr-1780	870	14	and	and	CCONJ
cblr-1780	870	15	accompanying	accompany	VERB
cblr-1780	870	16	text	text	NOUN
cblr-1780	870	17	.	.	PUNCT
cblr-1780	871	1	202	202	NUM
cblr-1780	871	2	bebchuk	bebchuk	NOUN
cblr-1780	871	3	and	and	CCONJ
cblr-1780	871	4	jackson	jackson	PROPN
cblr-1780	871	5	hypothesize	hypothesize	VERB
cblr-1780	871	6	that	that	SCONJ
cblr-1780	871	7	the	the	DET
cblr-1780	871	8	costs	cost	NOUN
cblr-1780	871	9	of	of	ADP
cblr-1780	871	10	requiring	require	VERB
cblr-1780	871	11	disclosure	disclosure	NOUN
cblr-1780	871	12	of	of	ADP
cblr-1780	871	13	political	political	ADJ
cblr-1780	871	14	spending	spending	NOUN
cblr-1780	871	15	would	would	AUX
cblr-1780	871	16	be	be	AUX
cblr-1780	871	17	minimal	minimal	ADJ
cblr-1780	871	18	.	.	PUNCT
cblr-1780	872	1	bebchuk	bebchuk	PROPN
cblr-1780	872	2	&	&	CCONJ
cblr-1780	872	3	jackson	jackson	PROPN
cblr-1780	872	4	,	,	PUNCT
cblr-1780	872	5	shining	shine	VERB
cblr-1780	872	6	light	light	NOUN
cblr-1780	872	7	,	,	PUNCT
cblr-1780	872	8	supra	supra	PROPN
cblr-1780	872	9	note	note	NOUN
cblr-1780	872	10	27	27	NUM
cblr-1780	872	11	,	,	PUNCT
cblr-1780	872	12	at	at	ADP
cblr-1780	872	13	964–65	964–65	NUM
cblr-1780	872	14	.	.	PUNCT
cblr-1780	873	1	they	they	PRON
cblr-1780	873	2	do	do	AUX
cblr-1780	873	3	not	not	PART
cblr-1780	873	4	provide	provide	VERB
cblr-1780	873	5	specific	specific	ADJ
cblr-1780	873	6	cost	cost	NOUN
cblr-1780	873	7	estimates	estimate	NOUN
cblr-1780	873	8	,	,	PUNCT
cblr-1780	873	9	however	however	ADV
cblr-1780	873	10	,	,	PUNCT
cblr-1780	873	11	and	and	CCONJ
cblr-1780	873	12	past	past	ADJ
cblr-1780	873	13	experience	experience	NOUN
cblr-1780	873	14	suggests	suggest	VERB
cblr-1780	873	15	there	there	PRON
cblr-1780	873	16	are	be	VERB
cblr-1780	873	17	reasons	reason	NOUN
cblr-1780	873	18	to	to	PART
cblr-1780	873	19	be	be	AUX
cblr-1780	873	20	skeptical	skeptical	ADJ
cblr-1780	873	21	of	of	ADP
cblr-1780	873	22	minimal	minimal	ADJ
cblr-1780	873	23	cost	cost	NOUN
cblr-1780	873	24	estimates	estimate	NOUN
cblr-1780	873	25	of	of	ADP
cblr-1780	873	26	topic	topic	NOUN
cblr-1780	873	27	-	-	PUNCT
cblr-1780	873	28	specific	specific	ADJ
cblr-1780	873	29	disclosure	disclosure	NOUN
cblr-1780	873	30	requirements	requirement	NOUN
cblr-1780	873	31	.	.	PUNCT
cblr-1780	874	1	see	see	VERB
cblr-1780	874	2	davidoff	davidoff	PROPN
cblr-1780	874	3	,	,	PUNCT
cblr-1780	874	4	supra	supra	PROPN
cblr-1780	874	5	note	note	NOUN
cblr-1780	874	6	79	79	NUM
cblr-1780	874	7	(	(	PUNCT
cblr-1780	874	8	discussing	discuss	VERB
cblr-1780	874	9	the	the	DET
cblr-1780	874	10	unanticipated	unanticipated	ADJ
cblr-1780	874	11	costs	cost	NOUN
cblr-1780	874	12	of	of	ADP
cblr-1780	874	13	a	a	DET
cblr-1780	874	14	requirement	requirement	NOUN
cblr-1780	874	15	that	that	SCONJ
cblr-1780	874	16	public	public	ADJ
cblr-1780	874	17	firms	firm	NOUN
cblr-1780	874	18	disclose	disclose	VERB
cblr-1780	874	19	the	the	DET
cblr-1780	874	20	ratio	ratio	NOUN
cblr-1780	874	21	between	between	ADP
cblr-1780	874	22	ceo	ceo	NOUN
cblr-1780	874	23	compensation	compensation	NOUN
cblr-1780	874	24	and	and	CCONJ
cblr-1780	874	25	average	average	ADJ
cblr-1780	874	26	worker	worker	NOUN
cblr-1780	874	27	compensation	compensation	NOUN
cblr-1780	874	28	)	)	PUNCT
cblr-1780	874	29	.	.	PUNCT
cblr-1780	875	1	guttentag	guttentag	NOUN
cblr-1780	875	2	–	–	PUNCT
cblr-1780	875	3	final	final	ADJ
cblr-1780	875	4	656	656	NUM
cblr-1780	875	5	columbia	columbia	PROPN
cblr-1780	875	6	business	business	NOUN
cblr-1780	875	7	law	law	NOUN
cblr-1780	875	8	review	review	NOUN
cblr-1780	876	1	[	[	X
cblr-1780	876	2	vol	vol	NOUN
cblr-1780	876	3	.	.	PUNCT
cblr-1780	876	4	2014	2014	NUM
cblr-1780	876	5	a	a	DET
cblr-1780	876	6	second	second	ADJ
cblr-1780	876	7	reason	reason	NOUN
cblr-1780	876	8	the	the	DET
cblr-1780	876	9	evidence	evidence	NOUN
cblr-1780	876	10	does	do	AUX
cblr-1780	876	11	not	not	PART
cblr-1780	876	12	support	support	VERB
cblr-1780	876	13	a	a	DET
cblr-1780	876	14	conclusion	conclusion	NOUN
cblr-1780	876	15	that	that	SCONJ
cblr-1780	876	16	mandatory	mandatory	ADJ
cblr-1780	876	17	disclosure	disclosure	NOUN
cblr-1780	876	18	of	of	ADP
cblr-1780	876	19	political	political	ADJ
cblr-1780	876	20	spending	spending	NOUN
cblr-1780	876	21	will	will	AUX
cblr-1780	876	22	deter	deter	VERB
cblr-1780	876	23	wasteful	wasteful	ADJ
cblr-1780	876	24	political	political	ADJ
cblr-1780	876	25	spending	spending	NOUN
cblr-1780	876	26	in	in	ADP
cblr-1780	876	27	an	an	DET
cblr-1780	876	28	efficient	efficient	ADJ
cblr-1780	876	29	manner	manner	NOUN
cblr-1780	876	30	comes	come	VERB
cblr-1780	876	31	from	from	ADP
cblr-1780	876	32	a	a	DET
cblr-1780	876	33	study	study	NOUN
cblr-1780	876	34	of	of	ADP
cblr-1780	876	35	the	the	DET
cblr-1780	876	36	effects	effect	NOUN
cblr-1780	876	37	of	of	ADP
cblr-1780	876	38	changes	change	NOUN
cblr-1780	876	39	in	in	ADP
cblr-1780	876	40	the	the	DET
cblr-1780	876	41	regulation	regulation	NOUN
cblr-1780	876	42	of	of	ADP
cblr-1780	876	43	political	political	ADJ
cblr-1780	876	44	spending	spending	NOUN
cblr-1780	876	45	by	by	ADP
cblr-1780	876	46	public	public	ADJ
cblr-1780	876	47	companies	company	NOUN
cblr-1780	876	48	in	in	ADP
cblr-1780	876	49	the	the	DET
cblr-1780	876	50	united	united	ADJ
cblr-1780	876	51	kingdom	kingdom	PROPN
cblr-1780	876	52	.	.	PUNCT
cblr-1780	877	1	ciara	ciara	PROPN
cblr-1780	877	2	torres	torres	PROPN
cblr-1780	877	3	-	-	PUNCT
cblr-1780	877	4	spelliscy	spelliscy	NOUN
cblr-1780	877	5	and	and	CCONJ
cblr-1780	877	6	kathy	kathy	PROPN
cblr-1780	877	7	fogel	fogel	PROPN
cblr-1780	877	8	analyzed	analyze	VERB
cblr-1780	877	9	political	political	ADJ
cblr-1780	877	10	spending	spending	NOUN
cblr-1780	877	11	disclosure	disclosure	NOUN
cblr-1780	877	12	rules	rule	NOUN
cblr-1780	877	13	enacted	enact	VERB
cblr-1780	877	14	in	in	ADP
cblr-1780	877	15	2000	2000	NUM
cblr-1780	877	16	in	in	ADP
cblr-1780	877	17	the	the	DET
cblr-1780	877	18	united	united	ADJ
cblr-1780	877	19	kingdom	kingdom	PROPN
cblr-1780	877	20	(	(	PUNCT
cblr-1780	877	21	“	"	PUNCT
cblr-1780	877	22	uk	uk	PROPN
cblr-1780	877	23	2000	2000	NUM
cblr-1780	877	24	amendments”).203	amendments”).203	ADP
cblr-1780	878	1	these	these	DET
cblr-1780	878	2	rules	rule	NOUN
cblr-1780	878	3	required	require	VERB
cblr-1780	878	4	both	both	DET
cblr-1780	878	5	shareholder	shareholder	NOUN
cblr-1780	878	6	preapproval	preapproval	NOUN
cblr-1780	878	7	and	and	CCONJ
cblr-1780	878	8	ongoing	ongoing	ADJ
cblr-1780	878	9	disclosure	disclosure	NOUN
cblr-1780	878	10	of	of	ADP
cblr-1780	878	11	political	political	ADJ
cblr-1780	878	12	spending	spending	NOUN
cblr-1780	878	13	by	by	ADP
cblr-1780	878	14	public	public	ADJ
cblr-1780	878	15	companies	company	NOUN
cblr-1780	878	16	.	.	PUNCT
cblr-1780	879	1	torresspelliscy	torresspelliscy	NOUN
cblr-1780	879	2	and	and	CCONJ
cblr-1780	879	3	fogel	fogel	PROPN
cblr-1780	879	4	did	do	AUX
cblr-1780	879	5	not	not	PART
cblr-1780	879	6	find	find	VERB
cblr-1780	879	7	evidence	evidence	NOUN
cblr-1780	879	8	of	of	ADP
cblr-1780	879	9	a	a	DET
cblr-1780	879	10	significant	significant	ADJ
cblr-1780	879	11	impact	impact	NOUN
cblr-1780	879	12	on	on	ADP
cblr-1780	879	13	the	the	DET
cblr-1780	879	14	level	level	NOUN
cblr-1780	879	15	of	of	ADP
cblr-1780	879	16	political	political	ADJ
cblr-1780	879	17	spending	spending	NOUN
cblr-1780	879	18	by	by	ADP
cblr-1780	879	19	public	public	ADJ
cblr-1780	879	20	companies	company	NOUN
cblr-1780	879	21	in	in	ADP
cblr-1780	879	22	the	the	DET
cblr-1780	879	23	united	united	PROPN
cblr-1780	879	24	kingdom	kingdom	PROPN
cblr-1780	879	25	as	as	ADP
cblr-1780	879	26	a	a	DET
cblr-1780	879	27	result	result	NOUN
cblr-1780	879	28	of	of	ADP
cblr-1780	879	29	this	this	DET
cblr-1780	879	30	change	change	NOUN
cblr-1780	879	31	in	in	ADP
cblr-1780	879	32	the	the	DET
cblr-1780	879	33	law	law	NOUN
cblr-1780	879	34	.	.	PUNCT
cblr-1780	880	1	torres	torres	PROPN
cblr-1780	880	2	-	-	PUNCT
cblr-1780	880	3	spelliscy	spelliscy	NOUN
cblr-1780	880	4	and	and	CCONJ
cblr-1780	880	5	fogel	fogel	PROPN
cblr-1780	880	6	instead	instead	ADV
cblr-1780	880	7	found	find	VERB
cblr-1780	880	8	that	that	SCONJ
cblr-1780	880	9	“	"	PUNCT
cblr-1780	880	10	corporate	corporate	ADJ
cblr-1780	880	11	political	political	ADJ
cblr-1780	880	12	spending	spending	NOUN
cblr-1780	880	13	by	by	ADP
cblr-1780	880	14	publicly	publicly	ADV
cblr-1780	880	15	traded	trade	VERB
cblr-1780	880	16	companies	company	NOUN
cblr-1780	880	17	remained	remain	VERB
cblr-1780	880	18	relatively	relatively	ADV
cblr-1780	880	19	stable	stable	ADJ
cblr-1780	880	20	by	by	ADP
cblr-1780	880	21	aggregate	aggregate	NOUN
cblr-1780	880	22	during	during	ADP
cblr-1780	880	23	the	the	DET
cblr-1780	880	24	1993	1993	NUM
cblr-1780	880	25	-	-	SYM
cblr-1780	880	26	2010	2010	NUM
cblr-1780	880	27	period	period	NOUN
cblr-1780	880	28	.	.	PUNCT
cblr-1780	880	29	”204	”204	PROPN
cblr-1780	880	30	in	in	ADP
cblr-1780	880	31	considering	consider	VERB
cblr-1780	880	32	the	the	DET
cblr-1780	880	33	extent	extent	NOUN
cblr-1780	880	34	to	to	PART
cblr-1780	880	35	which	which	PRON
cblr-1780	880	36	an	an	DET
cblr-1780	880	37	inference	inference	NOUN
cblr-1780	880	38	can	can	AUX
cblr-1780	880	39	be	be	AUX
cblr-1780	880	40	drawn	draw	VERB
cblr-1780	880	41	from	from	ADP
cblr-1780	880	42	the	the	DET
cblr-1780	880	43	british	british	ADJ
cblr-1780	880	44	experience	experience	NOUN
cblr-1780	880	45	as	as	ADP
cblr-1780	880	46	to	to	ADP
cblr-1780	880	47	what	what	PRON
cblr-1780	880	48	might	might	AUX
cblr-1780	880	49	happen	happen	VERB
cblr-1780	880	50	in	in	ADP
cblr-1780	880	51	the	the	DET
cblr-1780	880	52	united	united	PROPN
cblr-1780	880	53	states	states	PROPN
cblr-1780	880	54	if	if	SCONJ
cblr-1780	880	55	a	a	DET
cblr-1780	880	56	disclosure	disclosure	NOUN
cblr-1780	880	57	rule	rule	NOUN
cblr-1780	880	58	were	be	AUX
cblr-1780	880	59	imposed	impose	VERB
cblr-1780	880	60	on	on	ADP
cblr-1780	880	61	public	public	ADJ
cblr-1780	880	62	company	company	NOUN
cblr-1780	880	63	political	political	ADJ
cblr-1780	880	64	spending	spending	NOUN
cblr-1780	880	65	,	,	PUNCT
cblr-1780	880	66	two	two	NUM
cblr-1780	880	67	countervailing	countervailing	ADJ
cblr-1780	880	68	factors	factor	NOUN
cblr-1780	880	69	are	be	AUX
cblr-1780	880	70	noteworthy.205	noteworthy.205	ADJ
cblr-1780	880	71	on	on	ADP
cblr-1780	880	72	the	the	DET
cblr-1780	880	73	one	one	NUM
cblr-1780	880	74	hand	hand	NOUN
cblr-1780	880	75	,	,	PUNCT
cblr-1780	880	76	in	in	ADP
cblr-1780	880	77	the	the	DET
cblr-1780	880	78	period	period	NOUN
cblr-1780	880	79	following	follow	VERB
cblr-1780	880	80	the	the	DET
cblr-1780	880	81	adoption	adoption	NOUN
cblr-1780	880	82	of	of	ADP
cblr-1780	880	83	the	the	DET
cblr-1780	880	84	uk	uk	PROPN
cblr-1780	880	85	2000	2000	NUM
cblr-1780	880	86	amendments	amendment	NOUN
cblr-1780	880	87	,	,	PUNCT
cblr-1780	880	88	political	political	ADJ
cblr-1780	880	89	contributions	contribution	NOUN
cblr-1780	880	90	by	by	ADP
cblr-1780	880	91	private	private	ADJ
cblr-1780	880	92	firms	firm	NOUN
cblr-1780	880	93	in	in	ADP
cblr-1780	880	94	the	the	DET
cblr-1780	880	95	united	united	PROPN
cblr-1780	880	96	kingdom	kingdom	PROPN
cblr-1780	880	97	increased	increase	VERB
cblr-1780	880	98	dramatically	dramatically	ADV
cblr-1780	880	99	,	,	PUNCT
cblr-1780	880	100	suggesting	suggest	VERB
cblr-1780	880	101	that	that	SCONJ
cblr-1780	880	102	,	,	PUNCT
cblr-1780	880	103	perhaps	perhaps	ADV
cblr-1780	880	104	,	,	PUNCT
cblr-1780	880	105	but	but	CCONJ
cblr-1780	880	106	for	for	ADP
cblr-1780	880	107	the	the	DET
cblr-1780	880	108	uk	uk	PROPN
cblr-1780	880	109	2000	2000	NUM
cblr-1780	880	110	amendments	amendment	NOUN
cblr-1780	880	111	,	,	PUNCT
cblr-1780	880	112	british	british	ADJ
cblr-1780	880	113	public	public	ADJ
cblr-1780	880	114	company	company	NOUN
cblr-1780	880	115	political	political	ADJ
cblr-1780	880	116	203	203	NUM
cblr-1780	880	117	ciara	ciara	NOUN
cblr-1780	880	118	torres	torre	NOUN
cblr-1780	880	119	-	-	PUNCT
cblr-1780	880	120	spelliscy	spelliscy	NOUN
cblr-1780	880	121	&	&	CCONJ
cblr-1780	880	122	kathy	kathy	PROPN
cblr-1780	880	123	fogel	fogel	PROPN
cblr-1780	880	124	,	,	PUNCT
cblr-1780	880	125	shareholder	shareholder	NOUN
cblr-1780	880	126	-	-	PUNCT
cblr-1780	880	127	authorized	authorize	VERB
cblr-1780	880	128	corporate	corporate	ADJ
cblr-1780	880	129	political	political	ADJ
cblr-1780	880	130	spending	spending	NOUN
cblr-1780	880	131	in	in	ADP
cblr-1780	880	132	the	the	DET
cblr-1780	880	133	united	united	ADJ
cblr-1780	880	134	kingdom	kingdom	PROPN
cblr-1780	880	135	,	,	PUNCT
cblr-1780	880	136	46	46	NUM
cblr-1780	880	137	u.s.f	u.s.f	ADJ
cblr-1780	880	138	.	.	PUNCT
cblr-1780	880	139	l.	l.	PROPN
cblr-1780	880	140	rev	rev	PROPN
cblr-1780	880	141	.	.	PROPN
cblr-1780	880	142	525	525	NUM
cblr-1780	880	143	,	,	PUNCT
cblr-1780	880	144	526–27	526–27	PROPN
cblr-1780	880	145	(	(	PUNCT
cblr-1780	880	146	2011	2011	NUM
cblr-1780	880	147	)	)	PUNCT
cblr-1780	880	148	.	.	PUNCT
cblr-1780	881	1	204	204	NUM
cblr-1780	882	1	i	i	PRON
cblr-1780	882	2	d.	d.	VERB
cblr-1780	882	3	at	at	ADP
cblr-1780	882	4	558	558	NUM
cblr-1780	882	5	.	.	PUNCT
cblr-1780	883	1	see	see	AUX
cblr-1780	883	2	also	also	ADV
cblr-1780	883	3	saumya	saumya	VERB
cblr-1780	883	4	prabhat	prabhat	PROPN
cblr-1780	883	5	&	&	CCONJ
cblr-1780	883	6	david	david	PROPN
cblr-1780	883	7	m.	m.	PROPN
cblr-1780	883	8	primo	primo	PROPN
cblr-1780	883	9	,	,	PUNCT
cblr-1780	883	10	risky	risky	ADJ
cblr-1780	883	11	business	business	NOUN
cblr-1780	883	12	?	?	PUNCT
cblr-1780	884	1	corporate	corporate	ADJ
cblr-1780	884	2	political	political	ADJ
cblr-1780	884	3	spending	spending	NOUN
cblr-1780	884	4	,	,	PUNCT
cblr-1780	884	5	shareholder	shareholder	NOUN
cblr-1780	884	6	approval	approval	NOUN
cblr-1780	884	7	,	,	PUNCT
cblr-1780	884	8	and	and	CCONJ
cblr-1780	884	9	stock	stock	NOUN
cblr-1780	884	10	volatility	volatility	NOUN
cblr-1780	884	11	(	(	PUNCT
cblr-1780	884	12	sept	sept	PROPN
cblr-1780	884	13	.	.	PROPN
cblr-1780	884	14	1	1	NUM
cblr-1780	884	15	,	,	PUNCT
cblr-1780	884	16	2014	2014	NUM
cblr-1780	884	17	)	)	PUNCT
cblr-1780	884	18	(	(	PUNCT
cblr-1780	884	19	unpublished	unpublished	ADJ
cblr-1780	884	20	manuscript	manuscript	NOUN
cblr-1780	884	21	)	)	PUNCT
cblr-1780	884	22	,	,	PUNCT
cblr-1780	884	23	http://perma.cc/b78ntuk4	http://perma.cc/b78ntuk4	PRON
cblr-1780	884	24	(	(	PUNCT
cblr-1780	884	25	finding	find	VERB
cblr-1780	884	26	that	that	SCONJ
cblr-1780	884	27	the	the	DET
cblr-1780	884	28	uk	uk	PROPN
cblr-1780	884	29	2000	2000	NUM
cblr-1780	884	30	amendments	amendment	NOUN
cblr-1780	884	31	increased	increase	VERB
cblr-1780	884	32	the	the	DET
cblr-1780	884	33	stock	stock	NOUN
cblr-1780	884	34	volatility	volatility	NOUN
cblr-1780	884	35	of	of	ADP
cblr-1780	884	36	politically	politically	ADV
cblr-1780	884	37	active	active	ADJ
cblr-1780	884	38	firms	firm	NOUN
cblr-1780	884	39	)	)	PUNCT
cblr-1780	884	40	.	.	PUNCT
cblr-1780	885	1	205	205	NUM
cblr-1780	885	2	there	there	PRON
cblr-1780	885	3	are	be	VERB
cblr-1780	885	4	,	,	PUNCT
cblr-1780	885	5	of	of	ADP
cblr-1780	885	6	course	course	NOUN
cblr-1780	885	7	,	,	PUNCT
cblr-1780	885	8	many	many	ADJ
cblr-1780	885	9	additional	additional	ADJ
cblr-1780	885	10	challenges	challenge	NOUN
cblr-1780	885	11	in	in	ADP
cblr-1780	885	12	drawing	draw	VERB
cblr-1780	885	13	an	an	DET
cblr-1780	885	14	inference	inference	NOUN
cblr-1780	885	15	from	from	ADP
cblr-1780	885	16	the	the	DET
cblr-1780	885	17	failure	failure	NOUN
cblr-1780	885	18	of	of	ADP
cblr-1780	885	19	a	a	DET
cblr-1780	885	20	mandatory	mandatory	ADJ
cblr-1780	885	21	disclosure	disclosure	NOUN
cblr-1780	885	22	requirement	requirement	NOUN
cblr-1780	885	23	to	to	PART
cblr-1780	885	24	alter	alter	VERB
cblr-1780	885	25	political	political	ADJ
cblr-1780	885	26	spending	spending	NOUN
cblr-1780	885	27	by	by	ADP
cblr-1780	885	28	public	public	ADJ
cblr-1780	885	29	companies	company	NOUN
cblr-1780	885	30	in	in	ADP
cblr-1780	885	31	the	the	DET
cblr-1780	885	32	united	united	ADJ
cblr-1780	885	33	kingdom	kingdom	PROPN
cblr-1780	885	34	.	.	PUNCT
cblr-1780	886	1	as	as	ADP
cblr-1780	886	2	torresspelliscy	torresspelliscy	NOUN
cblr-1780	886	3	and	and	CCONJ
cblr-1780	886	4	fogel	fogel	PROPN
cblr-1780	886	5	observe	observe	PROPN
cblr-1780	886	6	,	,	PUNCT
cblr-1780	886	7	there	there	PRON
cblr-1780	886	8	are	be	VERB
cblr-1780	886	9	major	major	ADJ
cblr-1780	886	10	differences	difference	NOUN
cblr-1780	886	11	between	between	ADP
cblr-1780	886	12	the	the	DET
cblr-1780	886	13	british	british	ADJ
cblr-1780	886	14	and	and	CCONJ
cblr-1780	886	15	united	united	PROPN
cblr-1780	886	16	states	states	PROPN
cblr-1780	886	17	political	political	ADJ
cblr-1780	886	18	and	and	CCONJ
cblr-1780	886	19	corporate	corporate	ADJ
cblr-1780	886	20	governance	governance	NOUN
cblr-1780	886	21	systems	system	NOUN
cblr-1780	886	22	.	.	PUNCT
cblr-1780	887	1	torres	torres	PROPN
cblr-1780	887	2	-	-	PUNCT
cblr-1780	887	3	spelliscy	spelliscy	NOUN
cblr-1780	887	4	&	&	CCONJ
cblr-1780	887	5	fogel	fogel	PROPN
cblr-1780	887	6	,	,	PUNCT
cblr-1780	887	7	supra	supra	PROPN
cblr-1780	887	8	note	note	NOUN
cblr-1780	887	9	203	203	NUM
cblr-1780	887	10	,	,	PUNCT
cblr-1780	887	11	at	at	ADP
cblr-1780	887	12	536–42	536–42	NUM
cblr-1780	887	13	.	.	PUNCT
cblr-1780	888	1	guttentag	guttentag	NOUN
cblr-1780	888	2	–	–	PUNCT
cblr-1780	888	3	final	final	ADJ
cblr-1780	888	4	no	no	NOUN
cblr-1780	888	5	.	.	PUNCT
cblr-1780	889	1	3:593	3:593	NUM
cblr-1780	889	2	]	]	PUNCT
cblr-1780	889	3	on	on	ADP
cblr-1780	889	4	political	political	ADJ
cblr-1780	889	5	spending	spending	NOUN
cblr-1780	889	6	disclosure	disclosure	NOUN
cblr-1780	889	7	657	657	NUM
cblr-1780	889	8	spending	spending	NOUN
cblr-1780	889	9	might	might	AUX
cblr-1780	889	10	have	have	AUX
cblr-1780	889	11	increased	increase	VERB
cblr-1780	889	12	more	more	ADV
cblr-1780	889	13	significantly	significantly	ADV
cblr-1780	889	14	during	during	ADP
cblr-1780	889	15	the	the	DET
cblr-1780	889	16	period	period	NOUN
cblr-1780	889	17	under	under	ADP
cblr-1780	889	18	study.206	study.206	PROPN
cblr-1780	889	19	on	on	ADP
cblr-1780	889	20	the	the	DET
cblr-1780	889	21	other	other	ADJ
cblr-1780	889	22	hand	hand	NOUN
cblr-1780	889	23	,	,	PUNCT
cblr-1780	889	24	the	the	DET
cblr-1780	889	25	uk	uk	PROPN
cblr-1780	889	26	2000	2000	NUM
cblr-1780	889	27	amendments	amendment	NOUN
cblr-1780	889	28	implemented	implement	VERB
cblr-1780	889	29	two	two	NUM
cblr-1780	889	30	different	different	ADJ
cblr-1780	889	31	hurdles	hurdle	NOUN
cblr-1780	889	32	to	to	PART
cblr-1780	889	33	continued	continue	VERB
cblr-1780	889	34	political	political	ADJ
cblr-1780	889	35	spending	spending	NOUN
cblr-1780	889	36	by	by	ADP
cblr-1780	889	37	public	public	ADJ
cblr-1780	889	38	companies	company	NOUN
cblr-1780	889	39	.	.	PUNCT
cblr-1780	890	1	in	in	ADP
cblr-1780	890	2	addition	addition	NOUN
cblr-1780	890	3	to	to	ADP
cblr-1780	890	4	putting	put	VERB
cblr-1780	890	5	in	in	ADP
cblr-1780	890	6	place	place	NOUN
cblr-1780	890	7	a	a	DET
cblr-1780	890	8	disclosure	disclosure	NOUN
cblr-1780	890	9	requirement	requirement	NOUN
cblr-1780	890	10	,	,	PUNCT
cblr-1780	890	11	the	the	DET
cblr-1780	890	12	uk	uk	PROPN
cblr-1780	890	13	2000	2000	NUM
cblr-1780	890	14	amendments	amendment	NOUN
cblr-1780	890	15	also	also	ADV
cblr-1780	890	16	required	require	VERB
cblr-1780	890	17	that	that	SCONJ
cblr-1780	890	18	all	all	DET
cblr-1780	890	19	public	public	ADJ
cblr-1780	890	20	company	company	NOUN
cblr-1780	890	21	political	political	ADJ
cblr-1780	890	22	spending	spending	NOUN
cblr-1780	890	23	above	above	ADP
cblr-1780	890	24	a	a	DET
cblr-1780	890	25	minimal	minimal	ADJ
cblr-1780	890	26	amount	amount	NOUN
cblr-1780	890	27	be	be	VERB
cblr-1780	890	28	pre	pre	VERB
cblr-1780	890	29	-	-	VERB
cblr-1780	890	30	approved	approve	VERB
cblr-1780	890	31	by	by	ADP
cblr-1780	890	32	shareholders.207	shareholders.207	NOUN
cblr-1780	890	33	this	this	DET
cblr-1780	890	34	additional	additional	ADJ
cblr-1780	890	35	hurdle	hurdle	NOUN
cblr-1780	890	36	suggests	suggest	VERB
cblr-1780	890	37	that	that	SCONJ
cblr-1780	890	38	imposing	impose	VERB
cblr-1780	890	39	both	both	CCONJ
cblr-1780	890	40	the	the	DET
cblr-1780	890	41	requirements	requirement	NOUN
cblr-1780	890	42	of	of	ADP
cblr-1780	890	43	the	the	DET
cblr-1780	890	44	uk	uk	PROPN
cblr-1780	890	45	2000	2000	NUM
cblr-1780	890	46	amendments	amendment	NOUN
cblr-1780	890	47	would	would	AUX
cblr-1780	890	48	be	be	AUX
cblr-1780	890	49	more	more	ADV
cblr-1780	890	50	likely	likely	ADJ
cblr-1780	890	51	to	to	PART
cblr-1780	890	52	have	have	VERB
cblr-1780	890	53	a	a	DET
cblr-1780	890	54	deterrent	deterrent	NOUN
cblr-1780	890	55	effect	effect	NOUN
cblr-1780	890	56	than	than	ADP
cblr-1780	890	57	imposing	impose	VERB
cblr-1780	890	58	a	a	DET
cblr-1780	890	59	disclosure	disclosure	NOUN
cblr-1780	890	60	requirement	requirement	NOUN
cblr-1780	890	61	alone	alone	ADV
cblr-1780	890	62	,	,	PUNCT
cblr-1780	890	63	which	which	PRON
cblr-1780	890	64	is	be	AUX
cblr-1780	890	65	the	the	DET
cblr-1780	890	66	proposal	proposal	NOUN
cblr-1780	890	67	under	under	ADP
cblr-1780	890	68	consideration	consideration	NOUN
cblr-1780	890	69	in	in	ADP
cblr-1780	890	70	the	the	DET
cblr-1780	890	71	united	united	PROPN
cblr-1780	890	72	states	states	PROPN
cblr-1780	890	73	.	.	PUNCT
cblr-1780	891	1	a	a	DET
cblr-1780	891	2	third	third	ADJ
cblr-1780	891	3	reason	reason	NOUN
cblr-1780	891	4	to	to	PART
cblr-1780	891	5	doubt	doubt	VERB
cblr-1780	891	6	that	that	SCONJ
cblr-1780	891	7	mandatory	mandatory	ADJ
cblr-1780	891	8	disclosure	disclosure	NOUN
cblr-1780	891	9	of	of	ADP
cblr-1780	891	10	political	political	ADJ
cblr-1780	891	11	spending	spending	NOUN
cblr-1780	891	12	reduces	reduce	VERB
cblr-1780	891	13	tunneling	tunneling	NOUN
cblr-1780	891	14	is	be	AUX
cblr-1780	891	15	the	the	DET
cblr-1780	891	16	lack	lack	NOUN
cblr-1780	891	17	of	of	ADP
cblr-1780	891	18	empirical	empirical	ADJ
cblr-1780	891	19	evidence	evidence	NOUN
cblr-1780	891	20	,	,	PUNCT
cblr-1780	891	21	despite	despite	SCONJ
cblr-1780	891	22	appearances	appearance	NOUN
cblr-1780	891	23	,	,	PUNCT
cblr-1780	891	24	of	of	ADP
cblr-1780	891	25	a	a	DET
cblr-1780	891	26	causal	causal	NOUN
cblr-1780	891	27	link	link	NOUN
cblr-1780	891	28	between	between	ADP
cblr-1780	891	29	more	more	ADJ
cblr-1780	891	30	disclosure	disclosure	NOUN
cblr-1780	891	31	and	and	CCONJ
cblr-1780	891	32	less	less	ADV
cblr-1780	891	33	wasteful	wasteful	ADJ
cblr-1780	891	34	political	political	ADJ
cblr-1780	891	35	spending	spending	NOUN
cblr-1780	891	36	.	.	PUNCT
cblr-1780	892	1	the	the	DET
cblr-1780	892	2	one	one	NUM
cblr-1780	892	3	piece	piece	NOUN
cblr-1780	892	4	of	of	ADP
cblr-1780	892	5	evidence	evidence	NOUN
cblr-1780	892	6	most	most	ADV
cblr-1780	892	7	suggestive	suggestive	ADJ
cblr-1780	892	8	of	of	ADP
cblr-1780	892	9	a	a	DET
cblr-1780	892	10	causal	causal	NOUN
cblr-1780	892	11	link	link	NOUN
cblr-1780	892	12	between	between	ADP
cblr-1780	892	13	more	more	ADV
cblr-1780	892	14	political	political	ADJ
cblr-1780	892	15	spending	spending	NOUN
cblr-1780	892	16	disclosure	disclosure	NOUN
cblr-1780	892	17	and	and	CCONJ
cblr-1780	892	18	less	less	ADJ
cblr-1780	892	19	tunneling	tunneling	NOUN
cblr-1780	892	20	comes	come	VERB
cblr-1780	892	21	from	from	ADP
cblr-1780	892	22	the	the	DET
cblr-1780	892	23	aggarwal	aggarwal	NOUN
cblr-1780	892	24	et	et	PROPN
cblr-1780	892	25	al	al	PROPN
cblr-1780	892	26	.	.	PUNCT
cblr-1780	893	1	study.208	study.208	NOUN
cblr-1780	893	2	in	in	ADP
cblr-1780	893	3	a	a	DET
cblr-1780	893	4	footnote	footnote	NOUN
cblr-1780	893	5	,	,	PUNCT
cblr-1780	893	6	aggarwal	aggarwal	NOUN
cblr-1780	893	7	et	et	NOUN
cblr-1780	893	8	al	al	PROPN
cblr-1780	893	9	.	.	PROPN
cblr-1780	894	1	write	write	VERB
cblr-1780	894	2	that	that	PRON
cblr-1780	894	3	:	:	PUNCT
cblr-1780	894	4	“	"	PUNCT
cblr-1780	894	5	[	[	X
cblr-1780	894	6	i]n	i]n	ADJ
cblr-1780	894	7	unreported	unreported	ADJ
cblr-1780	894	8	results	result	NOUN
cblr-1780	894	9	,	,	PUNCT
cblr-1780	894	10	we	we	PRON
cblr-1780	894	11	have	have	AUX
cblr-1780	894	12	also	also	ADV
cblr-1780	894	13	examined	examine	VERB
cblr-1780	894	14	the	the	DET
cblr-1780	894	15	effect	effect	NOUN
cblr-1780	894	16	of	of	ADP
cblr-1780	894	17	greater	great	ADJ
cblr-1780	894	18	disclosure	disclosure	NOUN
cblr-1780	894	19	(	(	PUNCT
cblr-1780	894	20	transparency	transparency	NOUN
cblr-1780	894	21	)	)	PUNCT
cblr-1780	894	22	of	of	ADP
cblr-1780	894	23	political	political	ADJ
cblr-1780	894	24	donations	donation	NOUN
cblr-1780	894	25	.	.	PUNCT
cblr-1780	895	1	we	we	PRON
cblr-1780	895	2	find	find	VERB
cblr-1780	895	3	that	that	SCONJ
cblr-1780	895	4	firms	firm	NOUN
cblr-1780	895	5	with	with	ADP
cblr-1780	895	6	greater	great	ADJ
cblr-1780	895	7	disclosure	disclosure	NOUN
cblr-1780	895	8	of	of	ADP
cblr-1780	895	9	political	political	ADJ
cblr-1780	895	10	donations	donation	NOUN
cblr-1780	895	11	have	have	VERB
cblr-1780	895	12	less	less	ADJ
cblr-1780	895	13	negative	negative	ADJ
cblr-1780	895	14	donation	donation	NOUN
cblr-1780	895	15	-	-	PUNCT
cblr-1780	895	16	return	return	NOUN
cblr-1780	895	17	relations	relation	NOUN
cblr-1780	895	18	,	,	PUNCT
cblr-1780	895	19	suggesting	suggest	VERB
cblr-1780	895	20	that	that	SCONJ
cblr-1780	895	21	greater	great	ADJ
cblr-1780	895	22	transparency	transparency	NOUN
cblr-1780	895	23	attenuates	attenuate	VERB
cblr-1780	895	24	the	the	DET
cblr-1780	895	25	negative	negative	ADJ
cblr-1780	895	26	effects	effect	NOUN
cblr-1780	895	27	of	of	ADP
cblr-1780	895	28	donations	donation	NOUN
cblr-1780	895	29	.	.	PUNCT
cblr-1780	896	1	”209	”209	NOUN
cblr-1780	896	2	this	this	DET
cblr-1780	896	3	footnote	footnote	NOUN
cblr-1780	896	4	suggests	suggest	VERB
cblr-1780	896	5	that	that	SCONJ
cblr-1780	896	6	for	for	ADP
cblr-1780	896	7	firms	firm	NOUN
cblr-1780	896	8	that	that	PRON
cblr-1780	896	9	are	be	AUX
cblr-1780	896	10	more	more	ADV
cblr-1780	896	11	transparent	transparent	ADJ
cblr-1780	896	12	about	about	ADP
cblr-1780	896	13	political	political	ADJ
cblr-1780	896	14	spending	spending	NOUN
cblr-1780	896	15	,	,	PUNCT
cblr-1780	896	16	the	the	DET
cblr-1780	896	17	political	political	ADJ
cblr-1780	896	18	spending	spending	NOUN
cblr-1780	896	19	disclosures	disclosure	NOUN
cblr-1780	896	20	that	that	PRON
cblr-1780	896	21	do	do	AUX
cblr-1780	896	22	occur	occur	VERB
cblr-1780	896	23	are	be	AUX
cblr-1780	896	24	less	less	ADV
cblr-1780	896	25	likely	likely	ADJ
cblr-1780	896	26	to	to	PART
cblr-1780	896	27	be	be	AUX
cblr-1780	896	28	associated	associate	VERB
cblr-1780	896	29	with	with	ADP
cblr-1780	896	30	sub	sub	ADJ
cblr-1780	896	31	-	-	ADJ
cblr-1780	896	32	par	par	ADJ
cblr-1780	896	33	future	future	ADJ
cblr-1780	896	34	stock	stock	NOUN
cblr-1780	896	35	returns	return	NOUN
cblr-1780	896	36	.	.	PUNCT
cblr-1780	897	1	this	this	DET
cblr-1780	897	2	footnote	footnote	NOUN
cblr-1780	897	3	could	could	AUX
cblr-1780	897	4	reasonably	reasonably	ADV
cblr-1780	897	5	be	be	AUX
cblr-1780	897	6	interpreted	interpret	VERB
cblr-1780	897	7	as	as	ADP
cblr-1780	897	8	providing	provide	VERB
cblr-1780	897	9	enough	enough	ADJ
cblr-1780	897	10	evidence	evidence	NOUN
cblr-1780	897	11	of	of	ADP
cblr-1780	897	12	a	a	DET
cblr-1780	897	13	causal	causal	ADJ
cblr-1780	897	14	relationship	relationship	NOUN
cblr-1780	897	15	between	between	ADP
cblr-1780	897	16	more	more	ADJ
cblr-1780	897	17	disclosure	disclosure	NOUN
cblr-1780	897	18	and	and	CCONJ
cblr-1780	897	19	less	less	ADV
cblr-1780	897	20	tunneling	tunneling	NOUN
cblr-1780	897	21	to	to	PART
cblr-1780	897	22	justify	justify	VERB
cblr-1780	897	23	the	the	DET
cblr-1780	897	24	mandatory	mandatory	ADJ
cblr-1780	897	25	disclosure	disclosure	NOUN
cblr-1780	897	26	of	of	ADP
cblr-1780	897	27	political	political	ADJ
cblr-1780	897	28	spending.210	spending.210	NOUN
cblr-1780	897	29	206	206	NUM
cblr-1780	897	30	torres	torre	NOUN
cblr-1780	897	31	-	-	PUNCT
cblr-1780	897	32	spelliscy	spelliscy	NOUN
cblr-1780	897	33	&	&	CCONJ
cblr-1780	897	34	fogel	fogel	PROPN
cblr-1780	897	35	,	,	PUNCT
cblr-1780	897	36	supra	supra	PROPN
cblr-1780	897	37	note	note	NOUN
cblr-1780	897	38	203	203	NUM
cblr-1780	897	39	,	,	PUNCT
cblr-1780	897	40	at	at	ADP
cblr-1780	897	41	561	561	NUM
cblr-1780	897	42	.	.	PUNCT
cblr-1780	897	43	207	207	NUM
cblr-1780	898	1	i	i	PRON
cblr-1780	898	2	d.	d.	PROPN
cblr-1780	898	3	at	at	ADP
cblr-1780	898	4	545	545	NUM
cblr-1780	898	5	.	.	PUNCT
cblr-1780	899	1	208	208	NUM
cblr-1780	899	2	aggarwal	aggarwal	NOUN
cblr-1780	899	3	et	et	NOUN
cblr-1780	899	4	al	al	PROPN
cblr-1780	899	5	.	.	PROPN
cblr-1780	899	6	,	,	PUNCT
cblr-1780	899	7	supra	supra	PROPN
cblr-1780	899	8	note	note	PROPN
cblr-1780	899	9	16	16	NUM
cblr-1780	899	10	,	,	PUNCT
cblr-1780	899	11	at	at	ADP
cblr-1780	899	12	25	25	NUM
cblr-1780	899	13	n.14	n.14	NOUN
cblr-1780	899	14	.	.	PROPN
cblr-1780	899	15	209	209	NUM
cblr-1780	900	1	i	i	PRON
cblr-1780	900	2	d.	d.	PROPN
cblr-1780	900	3	210	210	NUM
cblr-1780	900	4	to	to	PART
cblr-1780	900	5	be	be	AUX
cblr-1780	900	6	clear	clear	ADJ
cblr-1780	900	7	,	,	PUNCT
cblr-1780	900	8	aggarwal	aggarwal	NOUN
cblr-1780	900	9	et	et	NOUN
cblr-1780	900	10	al	al	PROPN
cblr-1780	900	11	.	.	PROPN
cblr-1780	901	1	are	be	AUX
cblr-1780	901	2	certainly	certainly	ADV
cblr-1780	901	3	aware	aware	ADJ
cblr-1780	901	4	of	of	ADP
cblr-1780	901	5	the	the	DET
cblr-1780	901	6	general	general	ADJ
cblr-1780	901	7	and	and	CCONJ
cblr-1780	901	8	specific	specific	ADJ
cblr-1780	901	9	details	detail	NOUN
cblr-1780	901	10	discussed	discuss	VERB
cblr-1780	901	11	below	below	ADP
cblr-1780	901	12	that	that	DET
cblr-1780	901	13	mandate	mandate	NOUN
cblr-1780	901	14	caution	caution	NOUN
cblr-1780	901	15	in	in	ADP
cblr-1780	901	16	concluding	conclude	VERB
cblr-1780	901	17	their	their	PRON
cblr-1780	901	18	findings	finding	NOUN
cblr-1780	901	19	provide	provide	VERB
cblr-1780	901	20	direct	direct	ADJ
cblr-1780	901	21	evidence	evidence	NOUN
cblr-1780	901	22	of	of	ADP
cblr-1780	901	23	causation	causation	NOUN
cblr-1780	901	24	.	.	PUNCT
cblr-1780	902	1	guttentag	guttentag	NOUN
cblr-1780	902	2	–	–	PUNCT
cblr-1780	902	3	final	final	ADJ
cblr-1780	902	4	658	658	NUM
cblr-1780	902	5	columbia	columbia	PROPN
cblr-1780	902	6	business	business	NOUN
cblr-1780	902	7	law	law	NOUN
cblr-1780	902	8	review	review	NOUN
cblr-1780	903	1	[	[	X
cblr-1780	903	2	vol	vol	NOUN
cblr-1780	903	3	.	.	PUNCT
cblr-1780	903	4	2014	2014	NUM
cblr-1780	903	5	aggarwal	aggarwal	NOUN
cblr-1780	903	6	et	et	NOUN
cblr-1780	903	7	al	al	PROPN
cblr-1780	903	8	.	.	PROPN
cblr-1780	903	9	were	be	AUX
cblr-1780	903	10	kind	kind	ADJ
cblr-1780	903	11	enough	enough	ADV
cblr-1780	903	12	to	to	PART
cblr-1780	903	13	allow	allow	VERB
cblr-1780	903	14	me	i	PRON
cblr-1780	903	15	to	to	PART
cblr-1780	903	16	review	review	VERB
cblr-1780	903	17	and	and	CCONJ
cblr-1780	903	18	publish	publish	VERB
cblr-1780	903	19	the	the	DET
cblr-1780	903	20	data	datum	NOUN
cblr-1780	903	21	underlying	underlie	VERB
cblr-1780	903	22	the	the	DET
cblr-1780	903	23	finding	finding	NOUN
cblr-1780	903	24	summarized	summarize	VERB
cblr-1780	903	25	in	in	ADP
cblr-1780	903	26	their	their	PRON
cblr-1780	903	27	footnote.211	footnote.211	NOUN
cblr-1780	903	28	my	my	PRON
cblr-1780	903	29	understanding	understanding	NOUN
cblr-1780	903	30	of	of	ADP
cblr-1780	903	31	their	their	PRON
cblr-1780	903	32	analysis	analysis	NOUN
cblr-1780	903	33	is	be	AUX
cblr-1780	903	34	as	as	SCONJ
cblr-1780	903	35	follows.212	follows.212	ADJ
cblr-1780	903	36	first	first	ADJ
cblr-1780	903	37	,	,	PUNCT
cblr-1780	903	38	aggarwal	aggarwal	NOUN
cblr-1780	904	1	et	et	NOUN
cblr-1780	904	2	al	al	PROPN
cblr-1780	904	3	.	.	PROPN
cblr-1780	905	1	compiled	compile	VERB
cblr-1780	905	2	information	information	NOUN
cblr-1780	905	3	about	about	ADP
cblr-1780	905	4	the	the	DET
cblr-1780	905	5	extent	extent	NOUN
cblr-1780	905	6	to	to	PART
cblr-1780	905	7	which	which	PRON
cblr-1780	905	8	the	the	DET
cblr-1780	905	9	firms	firm	NOUN
cblr-1780	905	10	they	they	PRON
cblr-1780	905	11	studied	study	VERB
cblr-1780	905	12	were	be	AUX
cblr-1780	905	13	transparent	transparent	ADJ
cblr-1780	905	14	about	about	ADP
cblr-1780	905	15	this	this	DET
cblr-1780	905	16	kind	kind	NOUN
cblr-1780	905	17	of	of	ADP
cblr-1780	905	18	spending	spending	NOUN
cblr-1780	905	19	in	in	ADP
cblr-1780	905	20	2010.213	2010.213	NUM
cblr-1780	905	21	aggarwal	aggarwal	NOUN
cblr-1780	905	22	et	et	NOUN
cblr-1780	905	23	al	al	PROPN
cblr-1780	905	24	.	.	PUNCT
cblr-1780	906	1	then	then	ADV
cblr-1780	906	2	use	use	VERB
cblr-1780	906	3	this	this	DET
cblr-1780	906	4	2010	2010	NUM
cblr-1780	906	5	political	political	ADJ
cblr-1780	906	6	spending	spending	NOUN
cblr-1780	906	7	transparency	transparency	NOUN
cblr-1780	906	8	information	information	NOUN
cblr-1780	906	9	to	to	PART
cblr-1780	906	10	sort	sort	VERB
cblr-1780	906	11	the	the	DET
cblr-1780	906	12	firms	firm	NOUN
cblr-1780	906	13	whose	whose	DET
cblr-1780	906	14	political	political	ADJ
cblr-1780	906	15	spending	spending	NOUN
cblr-1780	906	16	and	and	CCONJ
cblr-1780	906	17	subsequent	subsequent	ADJ
cblr-1780	906	18	stock	stock	NOUN
cblr-1780	906	19	returns	return	NOUN
cblr-1780	906	20	they	they	PRON
cblr-1780	906	21	study	study	VERB
cblr-1780	906	22	(	(	PUNCT
cblr-1780	906	23	even	even	ADV
cblr-1780	906	24	though	though	SCONJ
cblr-1780	906	25	they	they	PRON
cblr-1780	906	26	studied	study	VERB
cblr-1780	906	27	firms	firm	NOUN
cblr-1780	906	28	during	during	ADP
cblr-1780	906	29	the	the	DET
cblr-1780	906	30	period	period	NOUN
cblr-1780	906	31	from	from	ADP
cblr-1780	906	32	1991	1991	NUM
cblr-1780	906	33	through	through	ADP
cblr-1780	906	34	2004	2004	NUM
cblr-1780	906	35	)	)	PUNCT
cblr-1780	906	36	.	.	PUNCT
cblr-1780	907	1	aggarwal	aggarwal	NOUN
cblr-1780	907	2	et	et	PROPN
cblr-1780	907	3	al	al	PROPN
cblr-1780	907	4	.	.	PROPN
cblr-1780	907	5	find	find	VERB
cblr-1780	907	6	that	that	SCONJ
cblr-1780	907	7	within	within	ADP
cblr-1780	907	8	the	the	DET
cblr-1780	907	9	subset	subset	NOUN
cblr-1780	907	10	of	of	ADP
cblr-1780	907	11	firms	firm	NOUN
cblr-1780	907	12	for	for	ADP
cblr-1780	907	13	which	which	PRON
cblr-1780	907	14	they	they	PRON
cblr-1780	907	15	were	be	AUX
cblr-1780	907	16	able	able	ADJ
cblr-1780	907	17	to	to	PART
cblr-1780	907	18	collect	collect	VERB
cblr-1780	907	19	transparency	transparency	NOUN
cblr-1780	907	20	estimates	estimate	NOUN
cblr-1780	907	21	,	,	PUNCT
cblr-1780	907	22	the	the	DET
cblr-1780	907	23	extent	extent	NOUN
cblr-1780	907	24	to	to	PART
cblr-1780	907	25	which	which	PRON
cblr-1780	907	26	political	political	ADJ
cblr-1780	907	27	spending	spending	NOUN
cblr-1780	907	28	was	be	AUX
cblr-1780	907	29	predictive	predictive	ADJ
cblr-1780	907	30	of	of	ADP
cblr-1780	907	31	reduced	reduce	VERB
cblr-1780	907	32	future	future	ADJ
cblr-1780	907	33	returns	return	NOUN
cblr-1780	907	34	declined	decline	VERB
cblr-1780	907	35	as	as	SCONJ
cblr-1780	907	36	transparency	transparency	NOUN
cblr-1780	907	37	increased	increase	VERB
cblr-1780	907	38	.	.	PUNCT
cblr-1780	908	1	specifically	specifically	ADV
cblr-1780	908	2	,	,	PUNCT
cblr-1780	908	3	aggarwal	aggarwal	NOUN
cblr-1780	908	4	et	et	NOUN
cblr-1780	908	5	al	al	PROPN
cblr-1780	908	6	.	.	PROPN
cblr-1780	908	7	find	find	VERB
cblr-1780	908	8	that	that	SCONJ
cblr-1780	908	9	in	in	ADP
cblr-1780	908	10	a	a	DET
cblr-1780	908	11	regression	regression	NOUN
cblr-1780	908	12	with	with	ADP
cblr-1780	908	13	excess	excess	ADJ
cblr-1780	908	14	returns	return	NOUN
cblr-1780	908	15	over	over	ADP
cblr-1780	908	16	a	a	DET
cblr-1780	908	17	twelve	twelve	NUM
cblr-1780	908	18	-	-	PUNCT
cblr-1780	908	19	month	month	NOUN
cblr-1780	908	20	period	period	NOUN
cblr-1780	908	21	as	as	ADP
cblr-1780	908	22	the	the	DET
cblr-1780	908	23	dependent	dependent	ADJ
cblr-1780	908	24	variable	variable	NOUN
cblr-1780	908	25	,	,	PUNCT
cblr-1780	908	26	the	the	DET
cblr-1780	908	27	coefficient	coefficient	NOUN
cblr-1780	908	28	for	for	ADP
cblr-1780	908	29	the	the	DET
cblr-1780	908	30	interaction	interaction	NOUN
cblr-1780	908	31	term	term	NOUN
cblr-1780	908	32	between	between	ADP
cblr-1780	908	33	amounts	amount	NOUN
cblr-1780	908	34	of	of	ADP
cblr-1780	908	35	donations	donation	NOUN
cblr-1780	908	36	and	and	CCONJ
cblr-1780	908	37	transparency	transparency	NOUN
cblr-1780	908	38	is	be	AUX
cblr-1780	908	39	positive	positive	ADJ
cblr-1780	908	40	at	at	ADP
cblr-1780	908	41	a	a	DET
cblr-1780	908	42	statistically	statistically	ADV
cblr-1780	908	43	significant	significant	ADJ
cblr-1780	908	44	level.214	level.214	ADJ
cblr-1780	908	45	211	211	NUM
cblr-1780	908	46	letter	letter	NOUN
cblr-1780	908	47	from	from	ADP
cblr-1780	908	48	tracy	tracy	PROPN
cblr-1780	908	49	yue	yue	PROPN
cblr-1780	908	50	wang	wang	PROPN
cblr-1780	908	51	to	to	ADP
cblr-1780	908	52	author	author	NOUN
cblr-1780	908	53	(	(	PUNCT
cblr-1780	908	54	june	june	PROPN
cblr-1780	908	55	4	4	NUM
cblr-1780	908	56	,	,	PUNCT
cblr-1780	908	57	2013	2013	NUM
cblr-1780	908	58	)	)	PUNCT
cblr-1780	908	59	(	(	PUNCT
cblr-1780	908	60	on	on	ADP
cblr-1780	908	61	file	file	NOUN
cblr-1780	908	62	with	with	ADP
cblr-1780	908	63	author	author	NOUN
cblr-1780	908	64	)	)	PUNCT
cblr-1780	908	65	.	.	PUNCT
cblr-1780	909	1	212	212	NUM
cblr-1780	909	2	i	i	PRON
cblr-1780	909	3	,	,	PUNCT
cblr-1780	909	4	of	of	ADP
cblr-1780	909	5	course	course	NOUN
cblr-1780	909	6	,	,	PUNCT
cblr-1780	909	7	assume	assume	VERB
cblr-1780	909	8	full	full	ADJ
cblr-1780	909	9	responsibility	responsibility	NOUN
cblr-1780	909	10	to	to	ADP
cblr-1780	909	11	the	the	DET
cblr-1780	909	12	extent	extent	NOUN
cblr-1780	909	13	my	my	PRON
cblr-1780	909	14	description	description	NOUN
cblr-1780	909	15	does	do	AUX
cblr-1780	909	16	not	not	PART
cblr-1780	909	17	fairly	fairly	ADV
cblr-1780	909	18	represent	represent	VERB
cblr-1780	909	19	their	their	PRON
cblr-1780	909	20	findings	finding	NOUN
cblr-1780	909	21	.	.	PUNCT
cblr-1780	910	1	213	213	NUM
cblr-1780	910	2	“	"	PUNCT
cblr-1780	910	3	[	[	PUNCT
cblr-1780	910	4	w]e	w]e	NOUN
cblr-1780	910	5	use	use	VERB
cblr-1780	910	6	the	the	DET
cblr-1780	910	7	2010	2010	NUM
cblr-1780	910	8	baruch	baruch	ADJ
cblr-1780	910	9	index	index	NOUN
cblr-1780	910	10	of	of	ADP
cblr-1780	910	11	corporate	corporate	ADJ
cblr-1780	910	12	political	political	ADJ
cblr-1780	910	13	disclosure	disclosure	NOUN
cblr-1780	910	14	,	,	PUNCT
cblr-1780	910	15	which	which	PRON
cblr-1780	910	16	assigns	assign	VERB
cblr-1780	910	17	a	a	DET
cblr-1780	910	18	score	score	NOUN
cblr-1780	910	19	from	from	ADP
cblr-1780	910	20	0	0	NUM
cblr-1780	910	21	to	to	ADP
cblr-1780	910	22	100	100	NUM
cblr-1780	910	23	to	to	ADP
cblr-1780	910	24	each	each	PRON
cblr-1780	910	25	of	of	ADP
cblr-1780	910	26	the	the	DET
cblr-1780	910	27	s&p	s&p	PROPN
cblr-1780	910	28	100	100	NUM
cblr-1780	910	29	companies	company	NOUN
cblr-1780	910	30	about	about	ADP
cblr-1780	910	31	the	the	DET
cblr-1780	910	32	transparency	transparency	NOUN
cblr-1780	910	33	of	of	ADP
cblr-1780	910	34	their	their	PRON
cblr-1780	910	35	corporate	corporate	ADJ
cblr-1780	910	36	political	political	ADJ
cblr-1780	910	37	spending	spending	NOUN
cblr-1780	910	38	and	and	CCONJ
cblr-1780	910	39	political	political	ADJ
cblr-1780	910	40	activities	activity	NOUN
cblr-1780	910	41	.	.	PUNCT
cblr-1780	911	1	of	of	ADP
cblr-1780	911	2	course	course	NOUN
cblr-1780	911	3	,	,	PUNCT
cblr-1780	911	4	the	the	DET
cblr-1780	911	5	index	index	NOUN
cblr-1780	911	6	is	be	AUX
cblr-1780	911	7	constructed	construct	VERB
cblr-1780	911	8	based	base	VERB
cblr-1780	911	9	on	on	ADP
cblr-1780	911	10	the	the	DET
cblr-1780	911	11	information	information	NOUN
cblr-1780	911	12	in	in	ADP
cblr-1780	911	13	2010	2010	NUM
cblr-1780	911	14	,	,	PUNCT
cblr-1780	911	15	which	which	PRON
cblr-1780	911	16	is	be	AUX
cblr-1780	911	17	outside	outside	ADP
cblr-1780	911	18	our	our	PRON
cblr-1780	911	19	sample	sample	NOUN
cblr-1780	911	20	period	period	NOUN
cblr-1780	911	21	.	.	PUNCT
cblr-1780	912	1	however	however	ADV
cblr-1780	912	2	,	,	PUNCT
cblr-1780	912	3	if	if	SCONJ
cblr-1780	912	4	the	the	DET
cblr-1780	912	5	transparency	transparency	NOUN
cblr-1780	912	6	of	of	ADP
cblr-1780	912	7	corporate	corporate	ADJ
cblr-1780	912	8	political	political	ADJ
cblr-1780	912	9	spending	spending	NOUN
cblr-1780	912	10	is	be	AUX
cblr-1780	912	11	negatively	negatively	ADV
cblr-1780	912	12	correlated	correlate	VERB
cblr-1780	912	13	with	with	ADP
cblr-1780	912	14	the	the	DET
cblr-1780	912	15	degree	degree	NOUN
cblr-1780	912	16	of	of	ADP
cblr-1780	912	17	agency	agency	NOUN
cblr-1780	912	18	problems	problem	NOUN
cblr-1780	912	19	,	,	PUNCT
cblr-1780	912	20	then	then	ADV
cblr-1780	912	21	such	such	ADJ
cblr-1780	912	22	transparency	transparency	NOUN
cblr-1780	912	23	could	could	AUX
cblr-1780	912	24	be	be	AUX
cblr-1780	912	25	quite	quite	ADV
cblr-1780	912	26	persistent	persistent	ADJ
cblr-1780	912	27	over	over	ADP
cblr-1780	912	28	time	time	NOUN
cblr-1780	912	29	.	.	PUNCT
cblr-1780	913	1	we	we	PRON
cblr-1780	913	2	create	create	VERB
cblr-1780	913	3	a	a	DET
cblr-1780	913	4	variable	variable	NOUN
cblr-1780	913	5	called	call	VERB
cblr-1780	913	6	‘	'	PUNCT
cblr-1780	913	7	transparency	transparency	NOUN
cblr-1780	913	8	’	'	PUNCT
cblr-1780	913	9	based	base	VERB
cblr-1780	913	10	on	on	ADP
cblr-1780	913	11	the	the	DET
cblr-1780	913	12	information	information	NOUN
cblr-1780	913	13	in	in	ADP
cblr-1780	913	14	this	this	DET
cblr-1780	913	15	index	index	NOUN
cblr-1780	913	16	.	.	PUNCT
cblr-1780	914	1	‘	'	PUNCT
cblr-1780	914	2	transparency’=4	transparency’=4	ADV
cblr-1780	914	3	if	if	SCONJ
cblr-1780	914	4	81<=index	81<=index	NOUN
cblr-1780	914	5	value<=100	value<=100	PROPN
cblr-1780	914	6	,	,	PUNCT
cblr-1780	914	7	=3	=3	VERB
cblr-1780	914	8	if	if	SCONJ
cblr-1780	914	9	61<=index	61<=index	PROPN
cblr-1780	914	10	value<=80	value<=80	NOUN
cblr-1780	914	11	,	,	PUNCT
cblr-1780	914	12	=	=	NOUN
cblr-1780	914	13	2	2	NUM
cblr-1780	914	14	if	if	SCONJ
cblr-1780	914	15	41<=index	41<=index	NOUN
cblr-1780	914	16	value<=60	value<=60	ADJ
cblr-1780	914	17	,	,	PUNCT
cblr-1780	914	18	=	=	NOUN
cblr-1780	914	19	1	1	NUM
cblr-1780	914	20	if	if	SCONJ
cblr-1780	914	21	21<=index	21<=index	NOUN
cblr-1780	914	22	value<=40	value<=40	VERB
cblr-1780	914	23	,	,	PUNCT
cblr-1780	914	24	and	and	CCONJ
cblr-1780	914	25	=	=	SYM
cblr-1780	914	26	0	0	PROPN
cblr-1780	914	27	if	if	SCONJ
cblr-1780	914	28	0<=index	0<=index	PROPN
cblr-1780	914	29	value<=20	value<=20	X
cblr-1780	914	30	.	.	PUNCT
cblr-1780	914	31	”	"	PUNCT
cblr-1780	914	32	letter	letter	NOUN
cblr-1780	914	33	from	from	ADP
cblr-1780	914	34	tracy	tracy	PROPN
cblr-1780	914	35	yue	yue	PROPN
cblr-1780	914	36	wang	wang	PROPN
cblr-1780	914	37	to	to	PART
cblr-1780	914	38	author	author	PROPN
cblr-1780	914	39	,	,	PUNCT
cblr-1780	914	40	supra	supra	PROPN
cblr-1780	914	41	note	note	PROPN
cblr-1780	914	42	211	211	NUM
cblr-1780	914	43	.	.	PUNCT
cblr-1780	915	1	214	214	NUM
cblr-1780	915	2	the	the	DET
cblr-1780	915	3	direct	direct	ADJ
cblr-1780	915	4	effect	effect	NOUN
cblr-1780	915	5	of	of	ADP
cblr-1780	915	6	donation	donation	NOUN
cblr-1780	915	7	on	on	ADP
cblr-1780	915	8	excess	excess	ADJ
cblr-1780	915	9	return	return	NOUN
cblr-1780	915	10	(	(	PUNCT
cblr-1780	915	11	the	the	DET
cblr-1780	915	12	-0.185	-0.185	PROPN
cblr-1780	915	13	*	*	NOUN
cblr-1780	915	14	coefficient	coefficient	NOUN
cblr-1780	915	15	)	)	PUNCT
cblr-1780	915	16	is	be	AUX
cblr-1780	915	17	negative	negative	ADJ
cblr-1780	915	18	.	.	PUNCT
cblr-1780	916	1	the	the	DET
cblr-1780	916	2	interaction	interaction	NOUN
cblr-1780	916	3	effect	effect	NOUN
cblr-1780	916	4	on	on	ADP
cblr-1780	916	5	excess	excess	ADJ
cblr-1780	916	6	return	return	NOUN
cblr-1780	916	7	between	between	ADP
cblr-1780	916	8	donation	donation	NOUN
cblr-1780	916	9	and	and	CCONJ
cblr-1780	916	10	transparency	transparency	NOUN
cblr-1780	916	11	(	(	PUNCT
cblr-1780	916	12	the	the	DET
cblr-1780	916	13	0.064	0.064	NUM
cblr-1780	916	14	*	*	NOUN
cblr-1780	916	15	coefficient	coefficient	NOUN
cblr-1780	916	16	)	)	PUNCT
cblr-1780	916	17	is	be	AUX
cblr-1780	916	18	positive	positive	ADJ
cblr-1780	916	19	at	at	ADP
cblr-1780	916	20	a	a	DET
cblr-1780	916	21	statistically	statistically	ADV
cblr-1780	916	22	significant	significant	ADJ
cblr-1780	916	23	level	level	NOUN
cblr-1780	916	24	.	.	PUNCT
cblr-1780	917	1	the	the	DET
cblr-1780	917	2	full	full	ADJ
cblr-1780	917	3	regression	regression	NOUN
cblr-1780	917	4	results	result	NOUN
cblr-1780	917	5	are	be	AUX
cblr-1780	917	6	as	as	SCONJ
cblr-1780	917	7	follows	follow	VERB
cblr-1780	917	8	:	:	PUNCT
cblr-1780	917	9	dependent	dependent	ADJ
cblr-1780	917	10	variable	variable	ADJ
cblr-1780	917	11	excess	excess	ADJ
cblr-1780	917	12	return	return	NOUN
cblr-1780	917	13	(	(	PUNCT
cblr-1780	917	14	s&p	s&p	PROPN
cblr-1780	917	15	100	100	NUM
cblr-1780	917	16	companies	company	NOUN
cblr-1780	917	17	)	)	PUNCT
cblr-1780	917	18	guttentag	guttentag	NOUN
cblr-1780	917	19	–	–	PUNCT
cblr-1780	917	20	final	final	ADJ
cblr-1780	917	21	no	no	NOUN
cblr-1780	917	22	.	.	PUNCT
cblr-1780	918	1	3:593	3:593	NUM
cblr-1780	918	2	]	]	PUNCT
cblr-1780	918	3	on	on	ADP
cblr-1780	918	4	political	political	ADJ
cblr-1780	918	5	spending	spending	NOUN
cblr-1780	918	6	disclosure	disclosure	NOUN
cblr-1780	918	7	659	659	NUM
cblr-1780	918	8	this	this	PRON
cblr-1780	918	9	means	mean	VERB
cblr-1780	918	10	that	that	SCONJ
cblr-1780	918	11	for	for	ADP
cblr-1780	918	12	firms	firm	NOUN
cblr-1780	918	13	that	that	PRON
cblr-1780	918	14	were	be	AUX
cblr-1780	918	15	more	more	ADV
cblr-1780	918	16	transparent	transparent	ADJ
cblr-1780	918	17	about	about	ADP
cblr-1780	918	18	political	political	ADJ
cblr-1780	918	19	spending	spending	NOUN
cblr-1780	918	20	as	as	SCONJ
cblr-1780	918	21	measured	measure	VERB
cblr-1780	918	22	in	in	ADP
cblr-1780	918	23	2010	2010	NUM
cblr-1780	918	24	,	,	PUNCT
cblr-1780	918	25	the	the	DET
cblr-1780	918	26	correlation	correlation	NOUN
cblr-1780	918	27	between	between	ADP
cblr-1780	918	28	more	more	ADJ
cblr-1780	918	29	political	political	ADJ
cblr-1780	918	30	spending	spending	NOUN
cblr-1780	918	31	and	and	CCONJ
cblr-1780	918	32	lower	low	ADJ
cblr-1780	918	33	future	future	ADJ
cblr-1780	918	34	returns	return	NOUN
cblr-1780	918	35	was	be	AUX
cblr-1780	918	36	reversed	reverse	VERB
cblr-1780	918	37	to	to	PART
cblr-1780	918	38	statistically	statistically	ADV
cblr-1780	918	39	significant	significant	ADJ
cblr-1780	918	40	degree.215	degree.215	VERB
cblr-1780	918	41	this	this	DET
cblr-1780	918	42	finding	finding	NOUN
cblr-1780	918	43	could	could	AUX
cblr-1780	918	44	be	be	AUX
cblr-1780	918	45	interpreted	interpret	VERB
cblr-1780	918	46	as	as	ADP
cblr-1780	918	47	showing	show	VERB
cblr-1780	918	48	that	that	SCONJ
cblr-1780	918	49	requiring	require	VERB
cblr-1780	918	50	disclosure	disclosure	NOUN
cblr-1780	918	51	of	of	ADP
cblr-1780	918	52	political	political	ADJ
cblr-1780	918	53	spending	spending	NOUN
cblr-1780	918	54	would	would	AUX
cblr-1780	918	55	have	have	VERB
cblr-1780	918	56	precisely	precisely	ADV
cblr-1780	918	57	the	the	DET
cblr-1780	918	58	effect	effect	NOUN
cblr-1780	918	59	proponents	proponent	NOUN
cblr-1780	918	60	of	of	ADP
cblr-1780	918	61	mandatory	mandatory	ADJ
cblr-1780	918	62	disclosure	disclosure	NOUN
cblr-1780	918	63	of	of	ADP
cblr-1780	918	64	political	political	ADJ
cblr-1780	918	65	spending	spending	NOUN
cblr-1780	918	66	desire	desire	NOUN
cblr-1780	918	67	,	,	PUNCT
cblr-1780	918	68	namely	namely	ADV
cblr-1780	918	69	reducing	reduce	VERB
cblr-1780	918	70	self	self	NOUN
cblr-1780	918	71	-	-	PUNCT
cblr-1780	918	72	serving	serve	VERB
cblr-1780	918	73	political	political	ADJ
cblr-1780	918	74	spending	spending	NOUN
cblr-1780	918	75	.	.	PUNCT
cblr-1780	919	1	there	there	PRON
cblr-1780	919	2	are	be	VERB
cblr-1780	919	3	,	,	PUNCT
cblr-1780	919	4	however	however	ADV
cblr-1780	919	5	,	,	PUNCT
cblr-1780	919	6	three	three	NUM
cblr-1780	919	7	reasons	reason	NOUN
cblr-1780	919	8	for	for	ADP
cblr-1780	919	9	caution	caution	NOUN
cblr-1780	919	10	in	in	ADP
cblr-1780	919	11	inferring	infer	VERB
cblr-1780	919	12	causation	causation	NOUN
cblr-1780	919	13	from	from	ADP
cblr-1780	919	14	the	the	DET
cblr-1780	919	15	aggarwal	aggarwal	NOUN
cblr-1780	919	16	et	et	PROPN
cblr-1780	919	17	al	al	PROPN
cblr-1780	919	18	.	.	PROPN
cblr-1780	919	19	findings	finding	NOUN
cblr-1780	919	20	of	of	ADP
cblr-1780	919	21	a	a	DET
cblr-1780	919	22	moderating	moderate	VERB
cblr-1780	919	23	effect	effect	NOUN
cblr-1780	919	24	of	of	ADP
cblr-1780	919	25	political	political	ADJ
cblr-1780	919	26	spending	spending	NOUN
cblr-1780	919	27	transparency	transparency	NOUN
cblr-1780	919	28	on	on	ADP
cblr-1780	919	29	the	the	DET
cblr-1780	919	30	link	link	NOUN
cblr-1780	919	31	they	they	PRON
cblr-1780	919	32	otherwise	otherwise	ADV
cblr-1780	919	33	find	find	VERB
cblr-1780	919	34	between	between	ADP
cblr-1780	919	35	political	political	ADJ
cblr-1780	919	36	spending	spending	NOUN
cblr-1780	919	37	and	and	CCONJ
cblr-1780	919	38	a	a	DET
cblr-1780	919	39	downturn	downturn	NOUN
cblr-1780	919	40	in	in	ADP
cblr-1780	919	41	future	future	ADJ
cblr-1780	919	42	returns	return	NOUN
cblr-1780	919	43	.	.	PUNCT
cblr-1780	920	1	first	first	ADV
cblr-1780	920	2	,	,	PUNCT
cblr-1780	920	3	the	the	DET
cblr-1780	920	4	most	most	ADV
cblr-1780	920	5	plausible	plausible	ADJ
cblr-1780	920	6	explanation	explanation	NOUN
cblr-1780	920	7	of	of	ADP
cblr-1780	920	8	the	the	DET
cblr-1780	920	9	finding	finding	NOUN
cblr-1780	920	10	of	of	ADP
cblr-1780	920	11	a	a	DET
cblr-1780	920	12	correlation	correlation	NOUN
cblr-1780	920	13	between	between	ADP
cblr-1780	920	14	political	political	ADJ
cblr-1780	920	15	spending	spending	NOUN
cblr-1780	920	16	and	and	CCONJ
cblr-1780	920	17	lower	low	ADJ
cblr-1780	920	18	future	future	ADJ
cblr-1780	920	19	returns	return	NOUN
cblr-1780	920	20	that	that	PRON
cblr-1780	920	21	aggarwal	aggarwal	AUX
cblr-1780	920	22	et	et	NOUN
cblr-1780	920	23	al	al	PROPN
cblr-1780	920	24	.	.	PROPN
cblr-1780	920	25	report	report	NOUN
cblr-1780	920	26	on	on	ADP
cblr-1780	920	27	is	be	AUX
cblr-1780	920	28	that	that	SCONJ
cblr-1780	920	29	political	political	ADJ
cblr-1780	920	30	spending	spending	NOUN
cblr-1780	920	31	provides	provide	VERB
cblr-1780	920	32	an	an	DET
cblr-1780	920	33	informative	informative	ADJ
cblr-1780	920	34	signal	signal	NOUN
cblr-1780	920	35	,	,	PUNCT
cblr-1780	920	36	rather	rather	ADV
cblr-1780	920	37	than	than	ADP
cblr-1780	920	38	actually	actually	ADV
cblr-1780	920	39	causing	cause	VERB
cblr-1780	920	40	declines	decline	NOUN
cblr-1780	920	41	in	in	ADP
cblr-1780	920	42	future	future	ADJ
cblr-1780	920	43	stock	stock	NOUN
cblr-1780	920	44	prices	price	NOUN
cblr-1780	920	45	.	.	PUNCT
cblr-1780	921	1	this	this	PRON
cblr-1780	921	2	is	be	AUX
cblr-1780	921	3	true	true	ADJ
cblr-1780	921	4	because	because	SCONJ
cblr-1780	921	5	the	the	DET
cblr-1780	921	6	dollars	dollar	NOUN
cblr-1780	921	7	spent	spend	VERB
cblr-1780	921	8	on	on	ADP
cblr-1780	921	9	political	political	ADJ
cblr-1780	921	10	spending	spending	NOUN
cblr-1780	921	11	are	be	AUX
cblr-1780	921	12	so	so	ADV
cblr-1780	921	13	small	small	ADJ
cblr-1780	921	14	,	,	PUNCT
cblr-1780	921	15	even	even	ADV
cblr-1780	921	16	as	as	SCONJ
cblr-1780	921	17	compared	compare	VERB
cblr-1780	921	18	to	to	ADP
cblr-1780	921	19	the	the	DET
cblr-1780	921	20	decline	decline	NOUN
cblr-1780	921	21	in	in	ADP
cblr-1780	921	22	value	value	NOUN
cblr-1780	921	23	they	they	PRON
cblr-1780	921	24	predict.216	predict.216	VERB
cblr-1780	921	25	if	if	SCONJ
cblr-1780	921	26	political	political	ADJ
cblr-1780	921	27	spending	spending	NOUN
cblr-1780	921	28	is	be	AUX
cblr-1780	921	29	associated	associate	VERB
cblr-1780	921	30	with	with	ADP
cblr-1780	921	31	future	future	ADJ
cblr-1780	921	32	stock	stock	NOUN
cblr-1780	921	33	price	price	NOUN
cblr-1780	921	34	performance	performance	NOUN
cblr-1780	921	35	because	because	SCONJ
cblr-1780	921	36	it	it	PRON
cblr-1780	921	37	provides	provide	VERB
cblr-1780	921	38	an	an	DET
cblr-1780	921	39	informative	informative	ADJ
cblr-1780	921	40	signal	signal	NOUN
cblr-1780	921	41	,	,	PUNCT
cblr-1780	921	42	then	then	ADV
cblr-1780	921	43	log(donation	log(donation	NOUN
cblr-1780	921	44	)	)	PUNCT
cblr-1780	922	1	-0.185	-0.185	NOUN
cblr-1780	922	2	*	*	PUNCT
cblr-1780	922	3	(	(	PUNCT
cblr-1780	922	4	0.104	0.104	NUM
cblr-1780	922	5	)	)	PUNCT
cblr-1780	922	6	transparency	transparency	NOUN
cblr-1780	922	7	0.007	0.007	NUM
cblr-1780	922	8	(	(	PUNCT
cblr-1780	922	9	0.013	0.013	NUM
cblr-1780	922	10	)	)	PUNCT
cblr-1780	922	11	log(donation	log(donation	NOUN
cblr-1780	922	12	)	)	PUNCT
cblr-1780	922	13	x	x	X
cblr-1780	923	1	transparency	transparency	NOUN
cblr-1780	923	2	0.064	0.064	NUM
cblr-1780	923	3	*	*	SYM
cblr-1780	923	4	(	(	PUNCT
cblr-1780	923	5	0.036	0.036	NUM
cblr-1780	923	6	)	)	PUNCT
cblr-1780	923	7	constant	constant	ADJ
cblr-1780	923	8	0.147	0.147	NUM
cblr-1780	923	9	*	*	NOUN
cblr-1780	923	10	*	*	PUNCT
cblr-1780	923	11	(	(	PUNCT
cblr-1780	923	12	0.062	0.062	NUM
cblr-1780	923	13	)	)	PUNCT
cblr-1780	923	14	year	year	NOUN
cblr-1780	923	15	dummies	dummy	NOUN
cblr-1780	923	16	included	include	VERB
cblr-1780	923	17	#	#	NOUN
cblr-1780	923	18	of	of	ADP
cblr-1780	923	19	observations	observation	NOUN
cblr-1780	923	20	927	927	NUM
cblr-1780	923	21	r	r	NOUN
cblr-1780	923	22	-	-	PUNCT
cblr-1780	923	23	squared	square	VERB
cblr-1780	923	24	0.03	0.03	NUM
cblr-1780	923	25	see	see	NOUN
cblr-1780	923	26	letter	letter	NOUN
cblr-1780	923	27	from	from	ADP
cblr-1780	923	28	tracy	tracy	PROPN
cblr-1780	923	29	yue	yue	PROPN
cblr-1780	923	30	wang	wang	PROPN
cblr-1780	923	31	to	to	PART
cblr-1780	923	32	author	author	PROPN
cblr-1780	923	33	,	,	PUNCT
cblr-1780	923	34	supra	supra	PROPN
cblr-1780	923	35	note	note	PROPN
cblr-1780	923	36	211	211	NUM
cblr-1780	923	37	.	.	PUNCT
cblr-1780	924	1	215	215	NUM
cblr-1780	924	2	“	"	PUNCT
cblr-1780	924	3	the	the	DET
cblr-1780	924	4	direct	direct	ADJ
cblr-1780	924	5	effect	effect	NOUN
cblr-1780	924	6	of	of	ADP
cblr-1780	924	7	donation	donation	NOUN
cblr-1780	924	8	on	on	ADP
cblr-1780	924	9	excess	excess	ADJ
cblr-1780	924	10	return	return	NOUN
cblr-1780	924	11	is	be	AUX
cblr-1780	924	12	still	still	ADV
cblr-1780	924	13	negative	negative	ADJ
cblr-1780	924	14	.	.	PUNCT
cblr-1780	925	1	however	however	ADV
cblr-1780	925	2	,	,	PUNCT
cblr-1780	925	3	it	it	PRON
cblr-1780	925	4	is	be	AUX
cblr-1780	925	5	less	less	ADV
cblr-1780	925	6	negative	negative	ADJ
cblr-1780	925	7	for	for	ADP
cblr-1780	925	8	firms	firm	NOUN
cblr-1780	925	9	that	that	PRON
cblr-1780	925	10	are	be	AUX
cblr-1780	925	11	more	more	ADV
cblr-1780	925	12	transparent	transparent	ADJ
cblr-1780	925	13	in	in	ADP
cblr-1780	925	14	disclosing	disclose	VERB
cblr-1780	925	15	their	their	PRON
cblr-1780	925	16	corporate	corporate	ADJ
cblr-1780	925	17	political	political	ADJ
cblr-1780	925	18	spending	spending	NOUN
cblr-1780	925	19	and	and	CCONJ
cblr-1780	925	20	political	political	ADJ
cblr-1780	925	21	activities	activity	NOUN
cblr-1780	925	22	.	.	PUNCT
cblr-1780	925	23	”	"	PUNCT
cblr-1780	926	1	letter	letter	NOUN
cblr-1780	926	2	from	from	ADP
cblr-1780	926	3	tracy	tracy	PROPN
cblr-1780	926	4	yue	yue	PROPN
cblr-1780	926	5	wang	wang	PROPN
cblr-1780	926	6	to	to	PART
cblr-1780	926	7	author	author	PROPN
cblr-1780	926	8	,	,	PUNCT
cblr-1780	926	9	supra	supra	PROPN
cblr-1780	926	10	note	note	PROPN
cblr-1780	926	11	211	211	NUM
cblr-1780	926	12	.	.	PUNCT
cblr-1780	927	1	216	216	NUM
cblr-1780	927	2	see	see	VERB
cblr-1780	927	3	supra	supra	PROPN
cblr-1780	927	4	notes	note	VERB
cblr-1780	927	5	183–184	183–184	NUM
cblr-1780	927	6	and	and	CCONJ
cblr-1780	927	7	accompanying	accompany	VERB
cblr-1780	927	8	text	text	NOUN
cblr-1780	927	9	.	.	PUNCT
cblr-1780	928	1	guttentag	guttentag	NOUN
cblr-1780	928	2	–	–	PUNCT
cblr-1780	928	3	final	final	ADJ
cblr-1780	928	4	660	660	NUM
cblr-1780	928	5	columbia	columbia	PROPN
cblr-1780	928	6	business	business	NOUN
cblr-1780	928	7	law	law	PROPN
cblr-1780	928	8	review	review	NOUN
cblr-1780	929	1	[	[	X
cblr-1780	929	2	vol	vol	NOUN
cblr-1780	929	3	.	.	PUNCT
cblr-1780	929	4	2014	2014	NUM
cblr-1780	929	5	variables	variable	NOUN
cblr-1780	929	6	that	that	PRON
cblr-1780	929	7	moderate	moderate	VERB
cblr-1780	929	8	this	this	DET
cblr-1780	929	9	relationship	relationship	NOUN
cblr-1780	929	10	are	be	AUX
cblr-1780	929	11	generating	generate	VERB
cblr-1780	929	12	these	these	DET
cblr-1780	929	13	moderating	moderate	VERB
cblr-1780	929	14	effects	effect	NOUN
cblr-1780	929	15	through	through	ADP
cblr-1780	929	16	changes	change	NOUN
cblr-1780	929	17	in	in	ADP
cblr-1780	929	18	signaling	signal	VERB
cblr-1780	929	19	effects	effect	NOUN
cblr-1780	929	20	,	,	PUNCT
cblr-1780	929	21	rather	rather	ADV
cblr-1780	929	22	than	than	ADP
cblr-1780	929	23	by	by	ADP
cblr-1780	929	24	actually	actually	ADV
cblr-1780	929	25	changing	change	VERB
cblr-1780	929	26	behavior	behavior	NOUN
cblr-1780	929	27	within	within	ADP
cblr-1780	929	28	the	the	DET
cblr-1780	929	29	firm	firm	NOUN
cblr-1780	929	30	.	.	PUNCT
cblr-1780	930	1	in	in	ADP
cblr-1780	930	2	other	other	ADJ
cblr-1780	930	3	words	word	NOUN
cblr-1780	930	4	,	,	PUNCT
cblr-1780	930	5	the	the	DET
cblr-1780	930	6	moderating	moderate	VERB
cblr-1780	930	7	effect	effect	NOUN
cblr-1780	930	8	observed	observe	VERB
cblr-1780	930	9	by	by	ADP
cblr-1780	930	10	aggarwal	aggarwal	PROPN
cblr-1780	930	11	et	et	PROPN
cblr-1780	930	12	al	al	PROPN
cblr-1780	930	13	.	.	PROPN
cblr-1780	930	14	is	be	AUX
cblr-1780	930	15	almost	almost	ADV
cblr-1780	930	16	certainly	certainly	ADV
cblr-1780	930	17	the	the	DET
cblr-1780	930	18	result	result	NOUN
cblr-1780	930	19	of	of	ADP
cblr-1780	930	20	a	a	DET
cblr-1780	930	21	refinement	refinement	NOUN
cblr-1780	930	22	in	in	ADP
cblr-1780	930	23	the	the	DET
cblr-1780	930	24	quality	quality	NOUN
cblr-1780	930	25	of	of	ADP
cblr-1780	930	26	the	the	DET
cblr-1780	930	27	political	political	ADJ
cblr-1780	930	28	spending	spending	NOUN
cblr-1780	930	29	signal	signal	NOUN
cblr-1780	930	30	,	,	PUNCT
cblr-1780	930	31	rather	rather	ADV
cblr-1780	930	32	than	than	ADP
cblr-1780	930	33	because	because	SCONJ
cblr-1780	930	34	more	more	ADJ
cblr-1780	930	35	transparency	transparency	NOUN
cblr-1780	930	36	about	about	ADP
cblr-1780	930	37	political	political	ADJ
cblr-1780	930	38	spending	spending	NOUN
cblr-1780	930	39	alters	alter	VERB
cblr-1780	930	40	behavior	behavior	NOUN
cblr-1780	930	41	.	.	PUNCT
cblr-1780	931	1	the	the	DET
cblr-1780	931	2	second	second	ADJ
cblr-1780	931	3	reason	reason	NOUN
cblr-1780	931	4	for	for	ADP
cblr-1780	931	5	caution	caution	NOUN
cblr-1780	931	6	before	before	ADP
cblr-1780	931	7	concluding	conclude	VERB
cblr-1780	931	8	from	from	ADP
cblr-1780	931	9	the	the	DET
cblr-1780	931	10	aggarwal	aggarwal	NOUN
cblr-1780	931	11	et	et	PROPN
cblr-1780	931	12	al	al	PROPN
cblr-1780	931	13	.	.	PROPN
cblr-1780	931	14	findings	finding	VERB
cblr-1780	931	15	that	that	SCONJ
cblr-1780	931	16	there	there	PRON
cblr-1780	931	17	is	be	VERB
cblr-1780	931	18	a	a	DET
cblr-1780	931	19	causal	causal	ADJ
cblr-1780	931	20	link	link	NOUN
cblr-1780	931	21	between	between	ADP
cblr-1780	931	22	greater	great	ADJ
cblr-1780	931	23	political	political	ADJ
cblr-1780	931	24	spending	spending	NOUN
cblr-1780	931	25	transparency	transparency	NOUN
cblr-1780	931	26	and	and	CCONJ
cblr-1780	931	27	less	less	ADV
cblr-1780	931	28	wasteful	wasteful	ADJ
cblr-1780	931	29	political	political	ADJ
cblr-1780	931	30	spending	spending	NOUN
cblr-1780	931	31	comes	come	VERB
cblr-1780	931	32	from	from	ADP
cblr-1780	931	33	another	another	DET
cblr-1780	931	34	finding	finding	NOUN
cblr-1780	931	35	(	(	PUNCT
cblr-1780	931	36	or	or	CCONJ
cblr-1780	931	37	lack	lack	VERB
cblr-1780	931	38	thereof	thereof	ADV
cblr-1780	931	39	)	)	PUNCT
cblr-1780	931	40	in	in	ADP
cblr-1780	931	41	this	this	DET
cblr-1780	931	42	regression	regression	NOUN
cblr-1780	931	43	.	.	PUNCT
cblr-1780	932	1	aggarwal	aggarwal	NOUN
cblr-1780	932	2	et	et	PROPN
cblr-1780	932	3	al	al	PROPN
cblr-1780	932	4	.	.	PROPN
cblr-1780	932	5	do	do	AUX
cblr-1780	932	6	not	not	PART
cblr-1780	932	7	find	find	VERB
cblr-1780	932	8	evidence	evidence	NOUN
cblr-1780	932	9	of	of	ADP
cblr-1780	932	10	a	a	DET
cblr-1780	932	11	statistically	statistically	ADV
cblr-1780	932	12	significant	significant	ADJ
cblr-1780	932	13	relationship	relationship	NOUN
cblr-1780	932	14	between	between	ADP
cblr-1780	932	15	the	the	DET
cblr-1780	932	16	extent	extent	NOUN
cblr-1780	932	17	of	of	ADP
cblr-1780	932	18	a	a	DET
cblr-1780	932	19	firm	firm	NOUN
cblr-1780	932	20	’s	’s	PART
cblr-1780	932	21	transparency	transparency	NOUN
cblr-1780	932	22	about	about	ADP
cblr-1780	932	23	political	political	ADJ
cblr-1780	932	24	spending	spending	NOUN
cblr-1780	932	25	and	and	CCONJ
cblr-1780	932	26	that	that	DET
cblr-1780	932	27	firm	firm	NOUN
cblr-1780	932	28	’s	’s	PART
cblr-1780	932	29	future	future	ADJ
cblr-1780	932	30	stock	stock	NOUN
cblr-1780	932	31	performance	performance	NOUN
cblr-1780	932	32	among	among	ADP
cblr-1780	932	33	the	the	DET
cblr-1780	932	34	firms	firm	NOUN
cblr-1780	932	35	for	for	ADP
cblr-1780	932	36	which	which	PRON
cblr-1780	932	37	political	political	ADJ
cblr-1780	932	38	spending	spending	NOUN
cblr-1780	932	39	transparency	transparency	NOUN
cblr-1780	932	40	data	datum	NOUN
cblr-1780	932	41	is	be	AUX
cblr-1780	932	42	available.217	available.217	NOUN
cblr-1780	932	43	it	it	PRON
cblr-1780	932	44	is	be	AUX
cblr-1780	932	45	incorrect	incorrect	ADJ
cblr-1780	932	46	to	to	PART
cblr-1780	932	47	conclude	conclude	VERB
cblr-1780	932	48	based	base	VERB
cblr-1780	932	49	on	on	ADP
cblr-1780	932	50	the	the	DET
cblr-1780	932	51	aggarwal	aggarwal	NOUN
cblr-1780	933	1	et	et	PROPN
cblr-1780	933	2	al	al	PROPN
cblr-1780	933	3	.	.	PUNCT
cblr-1780	933	4	interaction	interaction	NOUN
cblr-1780	933	5	effect	effect	NOUN
cblr-1780	933	6	findings	finding	VERB
cblr-1780	933	7	that	that	SCONJ
cblr-1780	933	8	a	a	DET
cblr-1780	933	9	causal	causal	ADJ
cblr-1780	933	10	link	link	NOUN
cblr-1780	933	11	exists	exist	VERB
cblr-1780	933	12	between	between	ADP
cblr-1780	933	13	transparency	transparency	NOUN
cblr-1780	933	14	and	and	CCONJ
cblr-1780	933	15	less	less	ADV
cblr-1780	933	16	wasteful	wasteful	ADJ
cblr-1780	933	17	political	political	ADJ
cblr-1780	933	18	spending	spending	NOUN
cblr-1780	933	19	given	give	VERB
cblr-1780	933	20	the	the	DET
cblr-1780	933	21	absence	absence	NOUN
cblr-1780	933	22	of	of	ADP
cblr-1780	933	23	a	a	DET
cblr-1780	933	24	statistically	statistically	ADV
cblr-1780	933	25	significant	significant	ADJ
cblr-1780	933	26	correlation	correlation	NOUN
cblr-1780	933	27	between	between	ADP
cblr-1780	933	28	additional	additional	ADJ
cblr-1780	933	29	transparency	transparency	NOUN
cblr-1780	933	30	in	in	ADP
cblr-1780	933	31	political	political	ADJ
cblr-1780	933	32	spending	spending	NOUN
cblr-1780	933	33	and	and	CCONJ
cblr-1780	933	34	lower	low	ADJ
cblr-1780	933	35	future	future	ADJ
cblr-1780	933	36	returns	return	NOUN
cblr-1780	933	37	in	in	ADP
cblr-1780	933	38	this	this	DET
cblr-1780	933	39	subsample.218	subsample.218	NOUN
cblr-1780	933	40	the	the	DET
cblr-1780	933	41	third	third	ADJ
cblr-1780	933	42	reason	reason	NOUN
cblr-1780	933	43	for	for	ADP
cblr-1780	933	44	caution	caution	NOUN
cblr-1780	933	45	before	before	ADP
cblr-1780	933	46	concluding	conclude	VERB
cblr-1780	933	47	from	from	ADP
cblr-1780	933	48	the	the	DET
cblr-1780	933	49	aggarwal	aggarwal	NOUN
cblr-1780	933	50	et	et	PROPN
cblr-1780	933	51	al	al	PROPN
cblr-1780	933	52	.	.	PUNCT
cblr-1780	933	53	finding	find	VERB
cblr-1780	933	54	that	that	SCONJ
cblr-1780	933	55	there	there	PRON
cblr-1780	933	56	is	be	VERB
cblr-1780	933	57	a	a	DET
cblr-1780	933	58	causal	causal	ADJ
cblr-1780	933	59	link	link	NOUN
cblr-1780	933	60	between	between	ADP
cblr-1780	933	61	greater	great	ADJ
cblr-1780	933	62	transparency	transparency	NOUN
cblr-1780	933	63	and	and	CCONJ
cblr-1780	933	64	less	less	ADV
cblr-1780	933	65	wasteful	wasteful	ADJ
cblr-1780	933	66	political	political	ADJ
cblr-1780	933	67	spending	spending	NOUN
cblr-1780	933	68	is	be	AUX
cblr-1780	933	69	that	that	SCONJ
cblr-1780	933	70	there	there	PRON
cblr-1780	933	71	is	be	VERB
cblr-1780	933	72	a	a	DET
cblr-1780	933	73	more	more	ADV
cblr-1780	933	74	obvious	obvious	ADJ
cblr-1780	933	75	explanation	explanation	NOUN
cblr-1780	933	76	for	for	ADP
cblr-1780	933	77	the	the	DET
cblr-1780	933	78	moderating	moderate	VERB
cblr-1780	933	79	effect	effect	NOUN
cblr-1780	933	80	they	they	PRON
cblr-1780	933	81	observe	observe	VERB
cblr-1780	933	82	.	.	PUNCT
cblr-1780	934	1	increased	increase	VERB
cblr-1780	934	2	transparency	transparency	NOUN
cblr-1780	934	3	should	should	AUX
cblr-1780	934	4	make	make	VERB
cblr-1780	934	5	information	information	NOUN
cblr-1780	934	6	about	about	ADP
cblr-1780	934	7	a	a	DET
cblr-1780	934	8	firm	firm	NOUN
cblr-1780	934	9	’s	’s	PART
cblr-1780	934	10	political	political	ADJ
cblr-1780	934	11	spending	spending	NOUN
cblr-1780	934	12	more	more	ADV
cblr-1780	934	13	readily	readily	ADV
cblr-1780	934	14	accessible	accessible	ADJ
cblr-1780	934	15	,	,	PUNCT
cblr-1780	934	16	which	which	PRON
cblr-1780	934	17	means	mean	VERB
cblr-1780	934	18	current	current	ADJ
cblr-1780	934	19	spending	spending	NOUN
cblr-1780	934	20	is	be	AUX
cblr-1780	934	21	less	less	ADV
cblr-1780	934	22	likely	likely	ADJ
cblr-1780	934	23	to	to	ADP
cblr-1780	934	24	217	217	NUM
cblr-1780	934	25	the	the	DET
cblr-1780	934	26	direct	direct	ADJ
cblr-1780	934	27	effect	effect	NOUN
cblr-1780	934	28	of	of	ADP
cblr-1780	934	29	transparency	transparency	NOUN
cblr-1780	934	30	(	(	PUNCT
cblr-1780	934	31	the	the	DET
cblr-1780	934	32	0.007	0.007	NUM
cblr-1780	934	33	coefficient	coefficient	NOUN
cblr-1780	934	34	)	)	PUNCT
cblr-1780	934	35	is	be	AUX
cblr-1780	934	36	not	not	PART
cblr-1780	934	37	statistically	statistically	ADV
cblr-1780	934	38	significant	significant	ADJ
cblr-1780	934	39	.	.	PUNCT
cblr-1780	935	1	218	218	NUM
cblr-1780	935	2	tracy	tracy	PROPN
cblr-1780	935	3	yue	yue	PROPN
cblr-1780	935	4	wang	wang	PROPN
cblr-1780	935	5	noted	note	VERB
cblr-1780	935	6	the	the	DET
cblr-1780	935	7	potential	potential	ADJ
cblr-1780	935	8	relevance	relevance	NOUN
cblr-1780	935	9	of	of	ADP
cblr-1780	935	10	this	this	DET
cblr-1780	935	11	coefficient	coefficient	NOUN
cblr-1780	935	12	in	in	ADP
cblr-1780	935	13	her	her	PRON
cblr-1780	935	14	correspondence	correspondence	NOUN
cblr-1780	935	15	as	as	SCONJ
cblr-1780	935	16	follows	follow	VERB
cblr-1780	935	17	:	:	PUNCT
cblr-1780	935	18	“	"	PUNCT
cblr-1780	935	19	if	if	SCONJ
cblr-1780	935	20	transparency	transparency	NOUN
cblr-1780	935	21	is	be	AUX
cblr-1780	935	22	negatively	negatively	ADV
cblr-1780	935	23	correlated	correlate	VERB
cblr-1780	935	24	with	with	ADP
cblr-1780	935	25	the	the	DET
cblr-1780	935	26	degree	degree	NOUN
cblr-1780	935	27	of	of	ADP
cblr-1780	935	28	agency	agency	NOUN
cblr-1780	935	29	problems	problem	NOUN
cblr-1780	935	30	in	in	ADP
cblr-1780	935	31	the	the	DET
cblr-1780	935	32	firm	firm	NOUN
cblr-1780	935	33	,	,	PUNCT
cblr-1780	935	34	then	then	ADV
cblr-1780	935	35	the	the	DET
cblr-1780	935	36	political	political	ADJ
cblr-1780	935	37	donation	donation	NOUN
cblr-1780	935	38	from	from	ADP
cblr-1780	935	39	more	more	ADV
cblr-1780	935	40	transparent	transparent	ADJ
cblr-1780	935	41	firms	firm	NOUN
cblr-1780	935	42	may	may	AUX
cblr-1780	935	43	be	be	AUX
cblr-1780	935	44	less	less	ADV
cblr-1780	935	45	likely	likely	ADJ
cblr-1780	935	46	to	to	PART
cblr-1780	935	47	due	due	ADP
cblr-1780	935	48	to	to	ADP
cblr-1780	935	49	agency	agency	NOUN
cblr-1780	935	50	motives	motive	NOUN
cblr-1780	935	51	,	,	PUNCT
cblr-1780	935	52	although	although	SCONJ
cblr-1780	935	53	the	the	DET
cblr-1780	935	54	fact	fact	NOUN
cblr-1780	935	55	that	that	SCONJ
cblr-1780	935	56	the	the	DET
cblr-1780	935	57	coefficient	coefficient	NOUN
cblr-1780	935	58	on	on	ADP
cblr-1780	935	59	transparency	transparency	NOUN
cblr-1780	935	60	itself	itself	PRON
cblr-1780	935	61	is	be	AUX
cblr-1780	935	62	insignificant	insignificant	ADJ
cblr-1780	935	63	weakens	weaken	VERB
cblr-1780	935	64	this	this	DET
cblr-1780	935	65	argument	argument	NOUN
cblr-1780	935	66	.	.	PUNCT
cblr-1780	935	67	”	"	PUNCT
cblr-1780	935	68	letter	letter	NOUN
cblr-1780	935	69	from	from	ADP
cblr-1780	935	70	tracy	tracy	PROPN
cblr-1780	935	71	yue	yue	PROPN
cblr-1780	935	72	wang	wang	PROPN
cblr-1780	935	73	to	to	PART
cblr-1780	935	74	author	author	PROPN
cblr-1780	935	75	,	,	PUNCT
cblr-1780	935	76	supra	supra	PROPN
cblr-1780	935	77	note	note	NOUN
cblr-1780	935	78	211	211	NUM
cblr-1780	935	79	.	.	PUNCT
cblr-1780	936	1	guttentag	guttentag	NOUN
cblr-1780	936	2	–	–	PUNCT
cblr-1780	936	3	final	final	ADJ
cblr-1780	936	4	no	no	NOUN
cblr-1780	936	5	.	.	PUNCT
cblr-1780	937	1	3:593	3:593	NUM
cblr-1780	937	2	]	]	PUNCT
cblr-1780	937	3	on	on	ADP
cblr-1780	937	4	political	political	ADJ
cblr-1780	937	5	spending	spending	NOUN
cblr-1780	937	6	disclosure	disclosure	NOUN
cblr-1780	937	7	661	661	NUM
cblr-1780	937	8	provide	provide	VERB
cblr-1780	937	9	a	a	DET
cblr-1780	937	10	valuable	valuable	ADJ
cblr-1780	937	11	signal	signal	NOUN
cblr-1780	937	12	about	about	ADP
cblr-1780	937	13	losses	loss	NOUN
cblr-1780	937	14	at	at	ADP
cblr-1780	937	15	some	some	DET
cblr-1780	937	16	point	point	NOUN
cblr-1780	937	17	in	in	ADP
cblr-1780	937	18	the	the	DET
cblr-1780	937	19	future.219	future.219	NOUN
cblr-1780	937	20	this	this	DET
cblr-1780	937	21	explanation	explanation	NOUN
cblr-1780	937	22	for	for	ADP
cblr-1780	937	23	the	the	DET
cblr-1780	937	24	moderating	moderate	VERB
cblr-1780	937	25	effect	effect	NOUN
cblr-1780	937	26	of	of	ADP
cblr-1780	937	27	transparency	transparency	NOUN
cblr-1780	937	28	on	on	ADP
cblr-1780	937	29	the	the	DET
cblr-1780	937	30	relationship	relationship	NOUN
cblr-1780	937	31	between	between	ADP
cblr-1780	937	32	political	political	ADJ
cblr-1780	937	33	spending	spending	NOUN
cblr-1780	937	34	and	and	CCONJ
cblr-1780	937	35	future	future	ADJ
cblr-1780	937	36	losses	loss	NOUN
cblr-1780	937	37	is	be	AUX
cblr-1780	937	38	,	,	PUNCT
cblr-1780	937	39	again	again	ADV
cblr-1780	937	40	,	,	PUNCT
cblr-1780	937	41	not	not	PART
cblr-1780	937	42	related	relate	VERB
cblr-1780	937	43	to	to	ADP
cblr-1780	937	44	changes	change	NOUN
cblr-1780	937	45	in	in	ADP
cblr-1780	937	46	the	the	DET
cblr-1780	937	47	actual	actual	ADJ
cblr-1780	937	48	amount	amount	NOUN
cblr-1780	937	49	of	of	ADP
cblr-1780	937	50	political	political	ADJ
cblr-1780	937	51	spending	spending	NOUN
cblr-1780	937	52	.	.	PUNCT
cblr-1780	938	1	in	in	ADP
cblr-1780	938	2	summary	summary	NOUN
cblr-1780	938	3	,	,	PUNCT
cblr-1780	938	4	there	there	PRON
cblr-1780	938	5	are	be	VERB
cblr-1780	938	6	at	at	ADV
cblr-1780	938	7	least	least	ADJ
cblr-1780	938	8	three	three	NUM
cblr-1780	938	9	reasons	reason	NOUN
cblr-1780	938	10	that	that	PRON
cblr-1780	938	11	the	the	DET
cblr-1780	938	12	previously	previously	ADV
cblr-1780	938	13	unpublished	unpublished	ADJ
cblr-1780	938	14	data	datum	NOUN
cblr-1780	938	15	underlying	underlie	VERB
cblr-1780	938	16	the	the	DET
cblr-1780	938	17	aggarwal	aggarwal	NOUN
cblr-1780	938	18	et	et	PROPN
cblr-1780	938	19	al	al	PROPN
cblr-1780	938	20	.	.	PROPN
cblr-1780	938	21	findings	finding	NOUN
cblr-1780	938	22	should	should	AUX
cblr-1780	938	23	probably	probably	ADV
cblr-1780	938	24	not	not	PART
cblr-1780	938	25	be	be	AUX
cblr-1780	938	26	interpreted	interpret	VERB
cblr-1780	938	27	as	as	ADP
cblr-1780	938	28	providing	provide	VERB
cblr-1780	938	29	evidence	evidence	NOUN
cblr-1780	938	30	of	of	ADP
cblr-1780	938	31	a	a	DET
cblr-1780	938	32	causal	causal	NOUN
cblr-1780	938	33	a	a	DET
cblr-1780	938	34	link	link	NOUN
cblr-1780	938	35	between	between	ADP
cblr-1780	938	36	more	more	ADJ
cblr-1780	938	37	transparency	transparency	NOUN
cblr-1780	938	38	and	and	CCONJ
cblr-1780	938	39	less	less	ADV
cblr-1780	938	40	wasteful	wasteful	ADJ
cblr-1780	938	41	political	political	ADJ
cblr-1780	938	42	spending	spending	NOUN
cblr-1780	938	43	.	.	PUNCT
cblr-1780	939	1	the	the	DET
cblr-1780	939	2	idea	idea	NOUN
cblr-1780	939	3	that	that	SCONJ
cblr-1780	939	4	requiring	require	VERB
cblr-1780	939	5	public	public	ADJ
cblr-1780	939	6	companies	company	NOUN
cblr-1780	939	7	to	to	PART
cblr-1780	939	8	disclose	disclose	VERB
cblr-1780	939	9	political	political	ADJ
cblr-1780	939	10	spending	spending	NOUN
cblr-1780	939	11	will	will	AUX
cblr-1780	939	12	lead	lead	VERB
cblr-1780	939	13	managers	manager	NOUN
cblr-1780	939	14	to	to	PART
cblr-1780	939	15	engage	engage	VERB
cblr-1780	939	16	in	in	ADP
cblr-1780	939	17	less	less	ADV
cblr-1780	939	18	wasteful	wasteful	ADJ
cblr-1780	939	19	political	political	ADJ
cblr-1780	939	20	spending	spending	NOUN
cblr-1780	939	21	is	be	AUX
cblr-1780	939	22	intuitive	intuitive	ADJ
cblr-1780	939	23	and	and	CCONJ
cblr-1780	939	24	appealing	appealing	ADJ
cblr-1780	939	25	.	.	PUNCT
cblr-1780	940	1	however	however	ADV
cblr-1780	940	2	,	,	PUNCT
cblr-1780	940	3	the	the	DET
cblr-1780	940	4	available	available	ADJ
cblr-1780	940	5	evidence	evidence	NOUN
cblr-1780	940	6	does	do	AUX
cblr-1780	940	7	not	not	PART
cblr-1780	940	8	suggest	suggest	VERB
cblr-1780	940	9	that	that	SCONJ
cblr-1780	940	10	requiring	require	VERB
cblr-1780	940	11	political	political	ADJ
cblr-1780	940	12	spending	spending	NOUN
cblr-1780	940	13	disclosure	disclosure	NOUN
cblr-1780	940	14	will	will	AUX
cblr-1780	940	15	have	have	VERB
cblr-1780	940	16	this	this	DET
cblr-1780	940	17	effect	effect	NOUN
cblr-1780	940	18	.	.	PUNCT
cblr-1780	941	1	thus	thus	ADV
cblr-1780	941	2	,	,	PUNCT
cblr-1780	941	3	there	there	PRON
cblr-1780	941	4	is	be	VERB
cblr-1780	941	5	no	no	DET
cblr-1780	941	6	compelling	compelling	ADJ
cblr-1780	941	7	evidence	evidence	NOUN
cblr-1780	941	8	that	that	SCONJ
cblr-1780	941	9	either	either	PRON
cblr-1780	941	10	of	of	ADP
cblr-1780	941	11	the	the	DET
cblr-1780	941	12	market	market	NOUN
cblr-1780	941	13	failures	failure	NOUN
cblr-1780	941	14	that	that	PRON
cblr-1780	941	15	can	can	AUX
cblr-1780	941	16	provide	provide	VERB
cblr-1780	941	17	a	a	DET
cblr-1780	941	18	sound	sound	ADJ
cblr-1780	941	19	basis	basis	NOUN
cblr-1780	941	20	for	for	ADP
cblr-1780	941	21	regulating	regulate	VERB
cblr-1780	941	22	public	public	ADJ
cblr-1780	941	23	company	company	NOUN
cblr-1780	941	24	disclosure	disclosure	NOUN
cblr-1780	941	25	policies	policy	NOUN
cblr-1780	941	26	,	,	PUNCT
cblr-1780	941	27	positive	positive	ADJ
cblr-1780	941	28	externalities	externality	NOUN
cblr-1780	941	29	or	or	CCONJ
cblr-1780	941	30	the	the	DET
cblr-1780	941	31	deterrence	deterrence	NOUN
cblr-1780	941	32	of	of	ADP
cblr-1780	941	33	tunneling	tunneling	NOUN
cblr-1780	941	34	,	,	PUNCT
cblr-1780	941	35	justifies	justify	VERB
cblr-1780	941	36	the	the	DET
cblr-1780	941	37	mandatory	mandatory	ADJ
cblr-1780	941	38	disclosure	disclosure	NOUN
cblr-1780	941	39	of	of	ADP
cblr-1780	941	40	political	political	ADJ
cblr-1780	941	41	spending	spending	NOUN
cblr-1780	941	42	.	.	PUNCT
cblr-1780	942	1	in	in	ADP
cblr-1780	942	2	the	the	DET
cblr-1780	942	3	absence	absence	NOUN
cblr-1780	942	4	of	of	ADP
cblr-1780	942	5	such	such	ADJ
cblr-1780	942	6	evidence	evidence	NOUN
cblr-1780	942	7	,	,	PUNCT
cblr-1780	942	8	the	the	DET
cblr-1780	942	9	presumption	presumption	NOUN
cblr-1780	942	10	against	against	ADP
cblr-1780	942	11	imposing	impose	VERB
cblr-1780	942	12	new	new	ADJ
cblr-1780	942	13	topicspecific	topicspecific	NOUN
cblr-1780	942	14	disclosure	disclosure	NOUN
cblr-1780	942	15	requirements	requirement	NOUN
cblr-1780	942	16	on	on	ADP
cblr-1780	942	17	public	public	ADJ
cblr-1780	942	18	companies	company	NOUN
cblr-1780	942	19	should	should	AUX
cblr-1780	942	20	prevail	prevail	VERB
cblr-1780	942	21	.	.	PUNCT
cblr-1780	943	1	v.	v.	ADP
cblr-1780	943	2	conclusion	conclusion	NOUN
cblr-1780	943	3	for	for	ADP
cblr-1780	943	4	those	those	PRON
cblr-1780	943	5	concerned	concern	VERB
cblr-1780	943	6	about	about	ADP
cblr-1780	943	7	too	too	ADV
cblr-1780	943	8	much	much	ADJ
cblr-1780	943	9	corporate	corporate	ADJ
cblr-1780	943	10	money	money	NOUN
cblr-1780	943	11	flowing	flow	VERB
cblr-1780	943	12	into	into	ADP
cblr-1780	943	13	federal	federal	ADJ
cblr-1780	943	14	political	political	ADJ
cblr-1780	943	15	contests	contest	NOUN
cblr-1780	943	16	,	,	PUNCT
cblr-1780	943	17	a	a	DET
cblr-1780	943	18	rule	rule	NOUN
cblr-1780	943	19	requiring	require	VERB
cblr-1780	943	20	public	public	ADJ
cblr-1780	943	21	companies	company	NOUN
cblr-1780	943	22	to	to	PART
cblr-1780	943	23	disclose	disclose	VERB
cblr-1780	943	24	political	political	ADJ
cblr-1780	943	25	spending	spending	NOUN
cblr-1780	943	26	would	would	AUX
cblr-1780	943	27	seem	seem	VERB
cblr-1780	943	28	to	to	PART
cblr-1780	943	29	offer	offer	VERB
cblr-1780	943	30	a	a	DET
cblr-1780	943	31	reasonable	reasonable	ADJ
cblr-1780	943	32	,	,	PUNCT
cblr-1780	943	33	albeit	albeit	SCONJ
cblr-1780	943	34	imperfect	imperfect	ADJ
cblr-1780	943	35	,	,	PUNCT
cblr-1780	943	36	solution	solution	NOUN
cblr-1780	943	37	.	.	PUNCT
cblr-1780	944	1	the	the	DET
cblr-1780	944	2	use	use	NOUN
cblr-1780	944	3	of	of	ADP
cblr-1780	944	4	disclosure	disclosure	NOUN
cblr-1780	944	5	requirements	requirement	NOUN
cblr-1780	944	6	is	be	AUX
cblr-1780	944	7	a	a	DET
cblr-1780	944	8	common	common	ADJ
cblr-1780	944	9	feature	feature	NOUN
cblr-1780	944	10	of	of	ADP
cblr-1780	944	11	the	the	DET
cblr-1780	944	12	securities	security	NOUN
cblr-1780	944	13	regulation	regulation	NOUN
cblr-1780	944	14	regime	regime	NOUN
cblr-1780	944	15	in	in	ADP
cblr-1780	944	16	the	the	DET
cblr-1780	944	17	united	united	PROPN
cblr-1780	944	18	states	states	PROPN
cblr-1780	944	19	.	.	PUNCT
cblr-1780	945	1	disclosure	disclosure	NOUN
cblr-1780	945	2	rules	rule	NOUN
cblr-1780	945	3	provide	provide	VERB
cblr-1780	945	4	an	an	DET
cblr-1780	945	5	appealing	appealing	ADJ
cblr-1780	945	6	way	way	NOUN
cblr-1780	945	7	to	to	PART
cblr-1780	945	8	avoid	avoid	VERB
cblr-1780	945	9	prohibiting	prohibit	VERB
cblr-1780	945	10	firms	firm	NOUN
cblr-1780	945	11	from	from	ADP
cblr-1780	945	12	219	219	NUM
cblr-1780	945	13	tracy	tracy	PROPN
cblr-1780	945	14	yue	yue	PROPN
cblr-1780	945	15	wang	wang	PROPN
cblr-1780	945	16	also	also	ADV
cblr-1780	945	17	noted	note	VERB
cblr-1780	945	18	the	the	DET
cblr-1780	945	19	potential	potential	ADJ
cblr-1780	945	20	relevance	relevance	NOUN
cblr-1780	945	21	of	of	ADP
cblr-1780	945	22	this	this	DET
cblr-1780	945	23	coefficient	coefficient	NOUN
cblr-1780	945	24	in	in	ADP
cblr-1780	945	25	her	her	PRON
cblr-1780	945	26	correspondence	correspondence	NOUN
cblr-1780	945	27	as	as	SCONJ
cblr-1780	945	28	follows	follow	VERB
cblr-1780	945	29	:	:	PUNCT
cblr-1780	945	30	“	"	PUNCT
cblr-1780	945	31	there	there	PRON
cblr-1780	945	32	are	be	VERB
cblr-1780	945	33	two	two	NUM
cblr-1780	945	34	possible	possible	ADJ
cblr-1780	945	35	interpretations	interpretation	NOUN
cblr-1780	945	36	of	of	ADP
cblr-1780	945	37	this	this	DET
cblr-1780	945	38	result	result	NOUN
cblr-1780	945	39	.	.	PUNCT
cblr-1780	945	40	.	.	PUNCT
cblr-1780	945	41	.	.	PUNCT
cblr-1780	945	42	.	.	PUNCT
cblr-1780	946	1	second	second	ADV
cblr-1780	946	2	,	,	PUNCT
cblr-1780	946	3	transparency	transparency	NOUN
cblr-1780	946	4	means	mean	VERB
cblr-1780	946	5	that	that	SCONJ
cblr-1780	946	6	the	the	DET
cblr-1780	946	7	consequences	consequence	NOUN
cblr-1780	946	8	of	of	ADP
cblr-1780	946	9	political	political	ADJ
cblr-1780	946	10	donations	donation	NOUN
cblr-1780	946	11	are	be	AUX
cblr-1780	946	12	already	already	ADV
cblr-1780	946	13	priced	price	VERB
cblr-1780	946	14	and	and	CCONJ
cblr-1780	946	15	thus	thus	ADV
cblr-1780	946	16	less	less	ADV
cblr-1780	946	17	likely	likely	ADJ
cblr-1780	946	18	to	to	PART
cblr-1780	946	19	be	be	AUX
cblr-1780	946	20	reflected	reflect	VERB
cblr-1780	946	21	in	in	ADP
cblr-1780	946	22	abnormal	abnormal	ADJ
cblr-1780	946	23	returns	return	NOUN
cblr-1780	946	24	.	.	PUNCT
cblr-1780	946	25	”	"	PUNCT
cblr-1780	947	1	letter	letter	NOUN
cblr-1780	947	2	from	from	ADP
cblr-1780	947	3	tracy	tracy	PROPN
cblr-1780	947	4	yue	yue	PROPN
cblr-1780	947	5	wang	wang	PROPN
cblr-1780	947	6	to	to	PART
cblr-1780	947	7	author	author	PROPN
cblr-1780	947	8	,	,	PUNCT
cblr-1780	947	9	supra	supra	PROPN
cblr-1780	947	10	note	note	NOUN
cblr-1780	947	11	211	211	NUM
cblr-1780	947	12	.	.	PUNCT
cblr-1780	948	1	guttentag	guttentag	NOUN
cblr-1780	948	2	–	–	PUNCT
cblr-1780	948	3	final	final	ADJ
cblr-1780	948	4	662	662	NUM
cblr-1780	948	5	columbia	columbia	PROPN
cblr-1780	948	6	business	business	NOUN
cblr-1780	948	7	law	law	PROPN
cblr-1780	948	8	review	review	NOUN
cblr-1780	948	9	[	[	X
cblr-1780	948	10	vol	vol	NOUN
cblr-1780	948	11	.	.	PUNCT
cblr-1780	948	12	2014	2014	NUM
cblr-1780	949	1	engaging	engage	VERB
cblr-1780	949	2	in	in	ADP
cblr-1780	949	3	certain	certain	ADJ
cblr-1780	949	4	activities	activity	NOUN
cblr-1780	949	5	while	while	SCONJ
cblr-1780	949	6	,	,	PUNCT
cblr-1780	949	7	at	at	ADP
cblr-1780	949	8	the	the	DET
cblr-1780	949	9	same	same	ADJ
cblr-1780	949	10	time	time	NOUN
cblr-1780	949	11	,	,	PUNCT
cblr-1780	949	12	ensuring	ensure	VERB
cblr-1780	949	13	that	that	SCONJ
cblr-1780	949	14	a	a	DET
cblr-1780	949	15	firm	firm	NOUN
cblr-1780	949	16	’s	’s	PART
cblr-1780	949	17	investors	investor	NOUN
cblr-1780	949	18	are	be	AUX
cblr-1780	949	19	aware	aware	ADJ
cblr-1780	949	20	of	of	ADP
cblr-1780	949	21	important	important	ADJ
cblr-1780	949	22	firm	firm	ADJ
cblr-1780	949	23	activities	activity	NOUN
cblr-1780	949	24	.	.	PUNCT
cblr-1780	950	1	perhaps	perhaps	ADV
cblr-1780	950	2	this	this	PRON
cblr-1780	950	3	is	be	AUX
cblr-1780	950	4	why	why	SCONJ
cblr-1780	950	5	such	such	DET
cblr-1780	950	6	a	a	DET
cblr-1780	950	7	preeminent	preeminent	ADJ
cblr-1780	950	8	group	group	NOUN
cblr-1780	950	9	of	of	ADP
cblr-1780	950	10	scholars	scholar	NOUN
cblr-1780	950	11	requested	request	VERB
cblr-1780	950	12	that	that	SCONJ
cblr-1780	950	13	the	the	DET
cblr-1780	950	14	sec	sec	PROPN
cblr-1780	950	15	begin	begin	VERB
cblr-1780	950	16	the	the	DET
cblr-1780	950	17	rulemaking	rulemaking	NOUN
cblr-1780	950	18	process	process	NOUN
cblr-1780	950	19	with	with	ADP
cblr-1780	950	20	respect	respect	NOUN
cblr-1780	950	21	to	to	ADP
cblr-1780	950	22	a	a	DET
cblr-1780	950	23	political	political	ADJ
cblr-1780	950	24	spending	spending	NOUN
cblr-1780	950	25	disclosure	disclosure	NOUN
cblr-1780	950	26	rule	rule	NOUN
cblr-1780	950	27	,	,	PUNCT
cblr-1780	950	28	and	and	CCONJ
cblr-1780	950	29	why	why	SCONJ
cblr-1780	950	30	this	this	DET
cblr-1780	950	31	request	request	NOUN
cblr-1780	950	32	has	have	AUX
cblr-1780	950	33	received	receive	VERB
cblr-1780	950	34	a	a	DET
cblr-1780	950	35	truly	truly	ADV
cblr-1780	950	36	unprecedented	unprecedented	ADJ
cblr-1780	950	37	amount	amount	NOUN
cblr-1780	950	38	of	of	ADP
cblr-1780	950	39	support	support	NOUN
cblr-1780	950	40	.	.	PUNCT
cblr-1780	951	1	however	however	ADV
cblr-1780	951	2	,	,	PUNCT
cblr-1780	951	3	a	a	DET
cblr-1780	951	4	careful	careful	ADJ
cblr-1780	951	5	review	review	NOUN
cblr-1780	951	6	of	of	ADP
cblr-1780	951	7	the	the	DET
cblr-1780	951	8	evidence	evidence	NOUN
cblr-1780	951	9	,	,	PUNCT
cblr-1780	951	10	including	include	VERB
cblr-1780	951	11	previously	previously	ADV
cblr-1780	951	12	unpublished	unpublished	ADJ
cblr-1780	951	13	empirical	empirical	ADJ
cblr-1780	951	14	findings	finding	NOUN
cblr-1780	951	15	,	,	PUNCT
cblr-1780	951	16	shows	show	VERB
cblr-1780	951	17	that	that	SCONJ
cblr-1780	951	18	even	even	ADV
cblr-1780	951	19	those	those	PRON
cblr-1780	951	20	who	who	PRON
cblr-1780	951	21	favor	favor	VERB
cblr-1780	951	22	increased	increase	VERB
cblr-1780	951	23	disclosure	disclosure	NOUN
cblr-1780	951	24	of	of	ADP
cblr-1780	951	25	corporate	corporate	ADJ
cblr-1780	951	26	spending	spending	NOUN
cblr-1780	951	27	in	in	ADP
cblr-1780	951	28	political	political	ADJ
cblr-1780	951	29	contests	contest	NOUN
cblr-1780	951	30	generally	generally	ADV
cblr-1780	951	31	should	should	AUX
cblr-1780	951	32	be	be	AUX
cblr-1780	951	33	hesitant	hesitant	ADJ
cblr-1780	951	34	to	to	PART
cblr-1780	951	35	support	support	VERB
cblr-1780	951	36	a	a	DET
cblr-1780	951	37	rule	rule	NOUN
cblr-1780	951	38	that	that	PRON
cblr-1780	951	39	would	would	AUX
cblr-1780	951	40	require	require	VERB
cblr-1780	951	41	only	only	ADV
cblr-1780	951	42	public	public	ADJ
cblr-1780	951	43	companies	company	NOUN
cblr-1780	951	44	to	to	PART
cblr-1780	951	45	disclose	disclose	VERB
cblr-1780	951	46	political	political	ADJ
cblr-1780	951	47	spending	spending	NOUN
cblr-1780	951	48	.	.	PUNCT
cblr-1780	952	1	such	such	DET
cblr-1780	952	2	a	a	DET
cblr-1780	952	3	rule	rule	NOUN
cblr-1780	952	4	is	be	AUX
cblr-1780	952	5	unlikely	unlikely	ADJ
cblr-1780	952	6	to	to	PART
cblr-1780	952	7	address	address	VERB
cblr-1780	952	8	the	the	DET
cblr-1780	952	9	market	market	NOUN
cblr-1780	952	10	failures	failure	NOUN
cblr-1780	952	11	that	that	PRON
cblr-1780	952	12	legitimately	legitimately	ADV
cblr-1780	952	13	justify	justify	VERB
cblr-1780	952	14	regulatory	regulatory	ADJ
cblr-1780	952	15	intervention	intervention	NOUN
cblr-1780	952	16	into	into	ADP
cblr-1780	952	17	public	public	ADJ
cblr-1780	952	18	company	company	NOUN
cblr-1780	952	19	disclosure	disclosure	NOUN
cblr-1780	952	20	practices	practice	NOUN
cblr-1780	952	21	.	.	PUNCT
cblr-1780	953	1	in	in	ADP
cblr-1780	953	2	fact	fact	NOUN
cblr-1780	953	3	,	,	PUNCT
cblr-1780	953	4	to	to	PART
cblr-1780	953	5	impose	impose	VERB
cblr-1780	953	6	this	this	DET
cblr-1780	953	7	disclosure	disclosure	NOUN
cblr-1780	953	8	requirement	requirement	NOUN
cblr-1780	953	9	only	only	ADV
cblr-1780	953	10	on	on	ADP
cblr-1780	953	11	public	public	ADJ
cblr-1780	953	12	firms	firm	NOUN
cblr-1780	953	13	could	could	AUX
cblr-1780	953	14	easily	easily	ADV
cblr-1780	953	15	prove	prove	VERB
cblr-1780	953	16	counter	counter	ADJ
cblr-1780	953	17	-	-	NOUN
cblr-1780	953	18	productive	productive	ADJ
cblr-1780	953	19	by	by	ADP
cblr-1780	953	20	encouraging	encourage	VERB
cblr-1780	953	21	companies	company	NOUN
cblr-1780	953	22	to	to	PART
cblr-1780	953	23	exit	exit	VERB
cblr-1780	953	24	the	the	DET
cblr-1780	953	25	public	public	ADJ
cblr-1780	953	26	company	company	NOUN
cblr-1780	953	27	reporting	report	VERB
cblr-1780	953	28	regime	regime	NOUN
cblr-1780	953	29	.	.	PUNCT
cblr-1780	954	1	looking	look	VERB
cblr-1780	954	2	at	at	ADP
cblr-1780	954	3	the	the	DET
cblr-1780	954	4	proposal	proposal	NOUN
cblr-1780	954	5	to	to	PART
cblr-1780	954	6	require	require	VERB
cblr-1780	954	7	the	the	DET
cblr-1780	954	8	disclosure	disclosure	NOUN
cblr-1780	954	9	of	of	ADP
cblr-1780	954	10	political	political	ADJ
cblr-1780	954	11	spending	spending	NOUN
cblr-1780	954	12	by	by	ADP
cblr-1780	954	13	public	public	ADJ
cblr-1780	954	14	companies	company	NOUN
cblr-1780	954	15	in	in	ADP
cblr-1780	954	16	the	the	DET
cblr-1780	954	17	proper	proper	ADJ
cblr-1780	954	18	context	context	NOUN
cblr-1780	954	19	shows	show	VERB
cblr-1780	954	20	that	that	SCONJ
cblr-1780	954	21	this	this	DET
cblr-1780	954	22	simple	simple	ADJ
cblr-1780	954	23	and	and	CCONJ
cblr-1780	954	24	appealing	appealing	ADJ
cblr-1780	954	25	idea	idea	NOUN
cblr-1780	954	26	is	be	AUX
cblr-1780	954	27	neither	neither	CCONJ
cblr-1780	954	28	necessary	necessary	ADJ
cblr-1780	954	29	nor	nor	CCONJ
cblr-1780	954	30	in	in	ADP
cblr-1780	954	31	the	the	DET
cblr-1780	954	32	best	good	ADJ
cblr-1780	954	33	interest	interest	NOUN
cblr-1780	954	34	of	of	ADP
cblr-1780	954	35	public	public	ADJ
cblr-1780	954	36	companies	company	NOUN
cblr-1780	954	37	or	or	CCONJ
cblr-1780	954	38	their	their	PRON
cblr-1780	954	39	shareholders	shareholder	NOUN
cblr-1780	954	40	.	.	PUNCT