id	sid	tid	token	lemma	pos
cblr-7808	1	1	microsoft	microsoft	PROPN
cblr-7808	1	2	word	word	NOUN
cblr-7808	1	3	2	2	NUM
cblr-7808	1	4	kastiel	kastiel	NOUN
cblr-7808	1	5	(	(	PUNCT
cblr-7808	1	6	comment	comment	NOUN
cblr-7808	1	7	)	)	PUNCT
cblr-7808	1	8	kasitel	kasitel	NOUN
cblr-7808	1	9	(	(	PUNCT
cblr-7808	1	10	comment	comment	NOUN
cblr-7808	1	11	)	)	PUNCT
cblr-7808	1	12	1/15/2021	1/15/2021	NUM
cblr-7808	1	13	2:38	2:38	NUM
cblr-7808	1	14	pm	pm	NOUN
cblr-7808	1	15	comment	comment	NOUN
cblr-7808	1	16	long	long	ADJ
cblr-7808	1	17	-	-	PUNCT
cblr-7808	1	18	term	term	NOUN
cblr-7808	1	19	bias	bias	NOUN
cblr-7808	1	20	,	,	PUNCT
cblr-7808	1	21	incentives	incentive	NOUN
cblr-7808	1	22	,	,	PUNCT
cblr-7808	1	23	and	and	CCONJ
cblr-7808	1	24	agency	agency	NOUN
cblr-7808	1	25	costs	cost	VERB
cblr-7808	1	26	kobi	kobi	PROPN
cblr-7808	1	27	kastiel	kastiel	PROPN
cblr-7808	1	28	*	*	PROPN
cblr-7808	1	29	the	the	DET
cblr-7808	1	30	problem	problem	NOUN
cblr-7808	1	31	of	of	ADP
cblr-7808	1	32	managerial	managerial	ADJ
cblr-7808	1	33	short	short	ADJ
cblr-7808	1	34	-	-	PUNCT
cblr-7808	1	35	termism	termism	NOUN
cblr-7808	1	36	has	have	VERB
cblr-7808	1	37	long	long	ADV
cblr-7808	1	38	preoccupied	preoccupied	ADJ
cblr-7808	1	39	policymakers	policymaker	NOUN
cblr-7808	1	40	,	,	PUNCT
cblr-7808	1	41	researchers	researcher	NOUN
cblr-7808	1	42	,	,	PUNCT
cblr-7808	1	43	and	and	CCONJ
cblr-7808	1	44	practitioners	practitioner	NOUN
cblr-7808	1	45	.	.	PUNCT
cblr-7808	2	1	these	these	DET
cblr-7808	2	2	groups	group	NOUN
cblr-7808	2	3	have	have	AUX
cblr-7808	2	4	given	give	VERB
cblr-7808	2	5	much	much	ADV
cblr-7808	2	6	less	less	ADJ
cblr-7808	2	7	attention	attention	NOUN
cblr-7808	2	8	,	,	PUNCT
cblr-7808	2	9	however	however	ADV
cblr-7808	2	10	,	,	PUNCT
cblr-7808	2	11	to	to	ADP
cblr-7808	2	12	the	the	DET
cblr-7808	2	13	converse	converse	NOUN
cblr-7808	2	14	problem	problem	NOUN
cblr-7808	2	15	of	of	ADP
cblr-7808	2	16	managerial	managerial	ADJ
cblr-7808	2	17	long	long	ADJ
cblr-7808	2	18	-	-	PUNCT
cblr-7808	2	19	termism	termism	NOUN
cblr-7808	2	20	.	.	PUNCT
cblr-7808	3	1	michal	michal	PROPN
cblr-7808	3	2	barzuza	barzuza	PROPN
cblr-7808	3	3	and	and	CCONJ
cblr-7808	3	4	eric	eric	PROPN
cblr-7808	3	5	talley	talley	PROPN
cblr-7808	3	6	fill	fill	VERB
cblr-7808	3	7	this	this	DET
cblr-7808	3	8	gap	gap	NOUN
cblr-7808	3	9	in	in	ADP
cblr-7808	3	10	their	their	PRON
cblr-7808	3	11	pioneering	pioneer	VERB
cblr-7808	3	12	article	article	NOUN
cblr-7808	3	13	,	,	PUNCT
cblr-7808	3	14	long	long	ADJ
cblr-7808	3	15	-	-	PUNCT
cblr-7808	3	16	term	term	NOUN
cblr-7808	3	17	bias	bias	NOUN
cblr-7808	3	18	.	.	PUNCT
cblr-7808	4	1	relying	rely	VERB
cblr-7808	4	2	on	on	ADP
cblr-7808	4	3	the	the	DET
cblr-7808	4	4	behavioral	behavioral	ADJ
cblr-7808	4	5	finance	finance	NOUN
cblr-7808	4	6	and	and	CCONJ
cblr-7808	4	7	psychology	psychology	NOUN
cblr-7808	4	8	literatures	literature	NOUN
cblr-7808	4	9	,	,	PUNCT
cblr-7808	4	10	the	the	DET
cblr-7808	4	11	authors	author	NOUN
cblr-7808	4	12	provide	provide	VERB
cblr-7808	4	13	a	a	DET
cblr-7808	4	14	novel	novel	NOUN
cblr-7808	4	15	and	and	CCONJ
cblr-7808	4	16	thought	thought	NOUN
cblr-7808	4	17	-	-	PUNCT
cblr-7808	4	18	provoking	provoke	VERB
cblr-7808	4	19	analysis	analysis	NOUN
cblr-7808	4	20	of	of	ADP
cblr-7808	4	21	managerial	managerial	ADJ
cblr-7808	4	22	long	long	ADJ
cblr-7808	4	23	-	-	PUNCT
cblr-7808	4	24	term	term	NOUN
cblr-7808	4	25	bias	bias	NOUN
cblr-7808	4	26	,	,	PUNCT
cblr-7808	4	27	which	which	PRON
cblr-7808	4	28	may	may	AUX
cblr-7808	4	29	be	be	AUX
cblr-7808	4	30	just	just	ADV
cblr-7808	4	31	as	as	ADV
cblr-7808	4	32	detrimental	detrimental	ADJ
cblr-7808	4	33	as	as	ADP
cblr-7808	4	34	the	the	DET
cblr-7808	4	35	more	more	ADV
cblr-7808	4	36	widely	widely	ADV
cblr-7808	4	37	condemned	condemn	VERB
cblr-7808	4	38	short	short	ADJ
cblr-7808	4	39	-	-	PUNCT
cblr-7808	4	40	term	term	NOUN
cblr-7808	4	41	bias	bias	NOUN
cblr-7808	4	42	.	.	PUNCT
cblr-7808	5	1	this	this	PRON
cblr-7808	5	2	invited	invite	VERB
cblr-7808	5	3	comment	comment	NOUN
cblr-7808	5	4	to	to	PART
cblr-7808	5	5	barzuza	barzuza	NOUN
cblr-7808	5	6	and	and	CCONJ
cblr-7808	5	7	talley	talley	NOUN
cblr-7808	5	8	’s	’s	PART
cblr-7808	5	9	article	article	NOUN
cblr-7808	5	10	advances	advance	VERB
cblr-7808	5	11	three	three	NUM
cblr-7808	5	12	claims	claim	NOUN
cblr-7808	5	13	.	.	PUNCT
cblr-7808	6	1	first	first	ADV
cblr-7808	6	2	,	,	PUNCT
cblr-7808	6	3	it	it	PRON
cblr-7808	6	4	argues	argue	VERB
cblr-7808	6	5	that	that	SCONJ
cblr-7808	6	6	proper	proper	ADJ
cblr-7808	6	7	incentives	incentive	NOUN
cblr-7808	6	8	—	—	PUNCT
cblr-7808	6	9	created	create	VERB
cblr-7808	6	10	by	by	ADP
cblr-7808	6	11	executive	executive	ADJ
cblr-7808	6	12	compensation	compensation	NOUN
cblr-7808	6	13	,	,	PUNCT
cblr-7808	6	14	heightened	heighten	VERB
cblr-7808	6	15	risk	risk	NOUN
cblr-7808	6	16	of	of	ADP
cblr-7808	6	17	early	early	ADJ
cblr-7808	6	18	termination	termination	NOUN
cblr-7808	6	19	,	,	PUNCT
cblr-7808	6	20	market	market	NOUN
cblr-7808	6	21	responses	response	NOUN
cblr-7808	6	22	and	and	CCONJ
cblr-7808	6	23	shareholder	shareholder	NOUN
cblr-7808	6	24	pressures	pressure	NOUN
cblr-7808	6	25	—	—	PUNCT
cblr-7808	6	26	are	be	AUX
cblr-7808	6	27	likely	likely	ADJ
cblr-7808	6	28	to	to	PART
cblr-7808	6	29	turn	turn	VERB
cblr-7808	6	30	most	most	ADJ
cblr-7808	6	31	managers	manager	NOUN
cblr-7808	6	32	more	more	ADV
cblr-7808	6	33	realistic	realistic	ADJ
cblr-7808	6	34	and	and	CCONJ
cblr-7808	6	35	thus	thus	ADV
cblr-7808	6	36	to	to	PART
cblr-7808	6	37	mitigate	mitigate	VERB
cblr-7808	6	38	their	their	PRON
cblr-7808	6	39	long	long	ADJ
cblr-7808	6	40	-	-	PUNCT
cblr-7808	6	41	term	term	NOUN
cblr-7808	6	42	biases	bias	NOUN
cblr-7808	6	43	.	.	PUNCT
cblr-7808	7	1	second	second	ADV
cblr-7808	7	2	,	,	PUNCT
cblr-7808	7	3	it	it	PRON
cblr-7808	7	4	explains	explain	VERB
cblr-7808	7	5	how	how	SCONJ
cblr-7808	7	6	,	,	PUNCT
cblr-7808	7	7	in	in	ADP
cblr-7808	7	8	reality	reality	NOUN
cblr-7808	7	9	,	,	PUNCT
cblr-7808	7	10	it	it	PRON
cblr-7808	7	11	could	could	AUX
cblr-7808	7	12	be	be	AUX
cblr-7808	7	13	almost	almost	ADV
cblr-7808	7	14	impossible	impossible	ADJ
cblr-7808	7	15	to	to	PART
cblr-7808	7	16	distinguish	distinguish	VERB
cblr-7808	7	17	between	between	ADP
cblr-7808	7	18	long	long	ADJ
cblr-7808	7	19	-	-	PUNCT
cblr-7808	7	20	term	term	NOUN
cblr-7808	7	21	bias	bias	NOUN
cblr-7808	7	22	and	and	CCONJ
cblr-7808	7	23	traditional	traditional	ADJ
cblr-7808	7	24	agency	agency	NOUN
cblr-7808	7	25	theories	theory	NOUN
cblr-7808	7	26	of	of	ADP
cblr-7808	7	27	empire	empire	NOUN
cblr-7808	7	28	building	building	NOUN
cblr-7808	7	29	and	and	CCONJ
cblr-7808	7	30	pet	pet	ADJ
cblr-7808	7	31	projects	project	NOUN
cblr-7808	7	32	.	.	PUNCT
cblr-7808	8	1	ultimately	ultimately	ADV
cblr-7808	8	2	,	,	PUNCT
cblr-7808	8	3	both	both	CCONJ
cblr-7808	8	4	long	long	ADJ
cblr-7808	8	5	-	-	PUNCT
cblr-7808	8	6	termist	termist	NOUN
cblr-7808	8	7	and	and	CCONJ
cblr-7808	8	8	self	self	NOUN
cblr-7808	8	9	-	-	PUNCT
cblr-7808	8	10	interested	interest	VERB
cblr-7808	8	11	managers	manager	NOUN
cblr-7808	8	12	systematically	systematically	ADV
cblr-7808	8	13	harm	harm	VERB
cblr-7808	8	14	shareholders	shareholder	NOUN
cblr-7808	8	15	;	;	PUNCT
cblr-7808	8	16	both	both	PRON
cblr-7808	8	17	choose	choose	VERB
cblr-7808	8	18	to	to	PART
cblr-7808	8	19	ignore	ignore	VERB
cblr-7808	8	20	shareholder	shareholder	NOUN
cblr-7808	8	21	interests	interest	NOUN
cblr-7808	8	22	and	and	CCONJ
cblr-7808	8	23	waste	waste	VERB
cblr-7808	8	24	free	free	ADJ
cblr-7808	8	25	cash	cash	NOUN
cblr-7808	8	26	flow	flow	NOUN
cblr-7808	8	27	on	on	ADP
cblr-7808	8	28	inferior	inferior	ADJ
cblr-7808	8	29	*	*	PUNCT
cblr-7808	8	30	associate	associate	NOUN
cblr-7808	8	31	professor	professor	NOUN
cblr-7808	8	32	,	,	PUNCT
cblr-7808	8	33	tel	tel	PROPN
cblr-7808	8	34	aviv	aviv	PROPN
cblr-7808	8	35	university	university	PROPN
cblr-7808	8	36	faculty	faculty	NOUN
cblr-7808	8	37	of	of	ADP
cblr-7808	8	38	law	law	NOUN
cblr-7808	8	39	;	;	PUNCT
cblr-7808	8	40	research	research	NOUN
cblr-7808	8	41	fellow	fellow	NOUN
cblr-7808	8	42	,	,	PUNCT
cblr-7808	8	43	program	program	NOUN
cblr-7808	8	44	on	on	ADP
cblr-7808	8	45	corporate	corporate	ADJ
cblr-7808	8	46	governance	governance	NOUN
cblr-7808	8	47	,	,	PUNCT
cblr-7808	8	48	harvard	harvard	PROPN
cblr-7808	8	49	law	law	PROPN
cblr-7808	8	50	school	school	NOUN
cblr-7808	8	51	.	.	PUNCT
cblr-7808	9	1	i	i	PRON
cblr-7808	9	2	have	have	AUX
cblr-7808	9	3	benefitted	benefit	VERB
cblr-7808	9	4	from	from	ADP
cblr-7808	9	5	helpful	helpful	ADJ
cblr-7808	9	6	discussions	discussion	NOUN
cblr-7808	9	7	with	with	ADP
cblr-7808	9	8	michal	michal	PROPN
cblr-7808	9	9	barzuza	barzuza	PROPN
cblr-7808	9	10	,	,	PUNCT
cblr-7808	9	11	lucian	lucian	PROPN
cblr-7808	9	12	bebchuk	bebchuk	PROPN
cblr-7808	9	13	,	,	PUNCT
cblr-7808	9	14	assaf	assaf	PROPN
cblr-7808	9	15	hamdani	hamdani	PROPN
cblr-7808	9	16	,	,	PUNCT
cblr-7808	9	17	sharon	sharon	PROPN
cblr-7808	9	18	hannes	hannes	PROPN
cblr-7808	9	19	,	,	PUNCT
cblr-7808	9	20	and	and	CCONJ
cblr-7808	9	21	ehud	ehud	PROPN
cblr-7808	9	22	kamar	kamar	PROPN
cblr-7808	9	23	,	,	PUNCT
cblr-7808	9	24	as	as	ADV
cblr-7808	9	25	well	well	ADV
cblr-7808	9	26	as	as	ADP
cblr-7808	9	27	from	from	ADP
cblr-7808	9	28	the	the	DET
cblr-7808	9	29	comments	comment	NOUN
cblr-7808	9	30	and	and	CCONJ
cblr-7808	9	31	questions	question	NOUN
cblr-7808	9	32	of	of	ADP
cblr-7808	9	33	the	the	DET
cblr-7808	9	34	participants	participant	NOUN
cblr-7808	9	35	at	at	ADP
cblr-7808	9	36	the	the	DET
cblr-7808	9	37	2019	2019	NUM
cblr-7808	9	38	tau	tau	PROPN
cblr-7808	9	39	/	/	SYM
cblr-7808	9	40	nyu	nyu	PROPN
cblr-7808	9	41	annual	annual	ADJ
cblr-7808	9	42	conference	conference	NOUN
cblr-7808	9	43	and	and	CCONJ
cblr-7808	9	44	the	the	DET
cblr-7808	9	45	iias	iias	NOUN
cblr-7808	9	46	workshop	workshop	VERB
cblr-7808	9	47	behavioral	behavioral	ADJ
cblr-7808	9	48	ethics	ethic	NOUN
cblr-7808	9	49	meets	meet	VERB
cblr-7808	9	50	corporate	corporate	ADJ
cblr-7808	9	51	governance	governance	NOUN
cblr-7808	9	52	.	.	PUNCT
cblr-7808	10	1	i	i	PRON
cblr-7808	10	2	also	also	ADV
cblr-7808	10	3	gratefully	gratefully	ADV
cblr-7808	10	4	acknowledge	acknowledge	VERB
cblr-7808	10	5	the	the	DET
cblr-7808	10	6	excellent	excellent	ADJ
cblr-7808	10	7	research	research	NOUN
cblr-7808	10	8	assistance	assistance	NOUN
cblr-7808	10	9	of	of	ADP
cblr-7808	10	10	gal	gal	ADJ
cblr-7808	10	11	rosenfeld	rosenfeld	NOUN
cblr-7808	10	12	.	.	PUNCT
cblr-7808	11	1	kastiel	kastiel	PROPN
cblr-7808	11	2	(	(	PUNCT
cblr-7808	11	3	comment	comment	NOUN
cblr-7808	11	4	)	)	PUNCT
cblr-7808	11	5	1/15/2021	1/15/2021	NUM
cblr-7808	11	6	2:38	2:38	NUM
cblr-7808	11	7	pm	pm	NOUN
cblr-7808	11	8	no	no	INTJ
cblr-7808	11	9	.	.	PUNCT
cblr-7808	12	1	3:834	3:834	NUM
cblr-7808	12	2	]	]	X
cblr-7808	12	3	long	long	ADJ
cblr-7808	12	4	-	-	PUNCT
cblr-7808	12	5	term	term	NOUN
cblr-7808	12	6	bias	bias	NOUN
cblr-7808	12	7	,	,	PUNCT
cblr-7808	12	8	incentives	incentive	NOUN
cblr-7808	12	9	,	,	PUNCT
cblr-7808	12	10	and	and	CCONJ
cblr-7808	12	11	agency	agency	NOUN
cblr-7808	12	12	costs	cost	VERB
cblr-7808	12	13	835	835	NUM
cblr-7808	12	14	business	business	NOUN
cblr-7808	12	15	investments	investment	NOUN
cblr-7808	12	16	.	.	PUNCT
cblr-7808	13	1	this	this	PRON
cblr-7808	13	2	also	also	ADV
cblr-7808	13	3	explains	explain	VERB
cblr-7808	13	4	why	why	SCONJ
cblr-7808	13	5	the	the	DET
cblr-7808	13	6	cure	cure	NOUN
cblr-7808	13	7	to	to	ADP
cblr-7808	13	8	both	both	PRON
cblr-7808	13	9	long	long	ADJ
cblr-7808	13	10	-	-	PUNCT
cblr-7808	13	11	term	term	NOUN
cblr-7808	13	12	bias	bias	NOUN
cblr-7808	13	13	and	and	CCONJ
cblr-7808	13	14	agency	agency	NOUN
cblr-7808	13	15	costs	cost	NOUN
cblr-7808	13	16	is	be	AUX
cblr-7808	13	17	similar	similar	ADJ
cblr-7808	13	18	:	:	PUNCT
cblr-7808	13	19	reducing	reduce	VERB
cblr-7808	13	20	the	the	DET
cblr-7808	13	21	relative	relative	ADJ
cblr-7808	13	22	insulation	insulation	NOUN
cblr-7808	13	23	of	of	ADP
cblr-7808	13	24	the	the	DET
cblr-7808	13	25	board	board	NOUN
cblr-7808	13	26	from	from	ADP
cblr-7808	13	27	shareholders	shareholder	NOUN
cblr-7808	13	28	’	'	PUNCT
cblr-7808	13	29	disciplinary	disciplinary	ADJ
cblr-7808	13	30	power	power	NOUN
cblr-7808	13	31	.	.	PUNCT
cblr-7808	14	1	finally	finally	ADV
cblr-7808	14	2	,	,	PUNCT
cblr-7808	14	3	this	this	DET
cblr-7808	14	4	comment	comment	NOUN
cblr-7808	14	5	expresses	express	VERB
cblr-7808	14	6	strong	strong	ADJ
cblr-7808	14	7	support	support	NOUN
cblr-7808	14	8	for	for	ADP
cblr-7808	14	9	most	most	ADJ
cblr-7808	14	10	of	of	ADP
cblr-7808	14	11	barzuza	barzuza	NOUN
cblr-7808	14	12	and	and	CCONJ
cblr-7808	14	13	talley	talley	NOUN
cblr-7808	14	14	’s	’s	PART
cblr-7808	14	15	normative	normative	ADJ
cblr-7808	14	16	conclusions	conclusion	NOUN
cblr-7808	14	17	,	,	PUNCT
cblr-7808	14	18	with	with	ADP
cblr-7808	14	19	one	one	NUM
cblr-7808	14	20	important	important	ADJ
cblr-7808	14	21	exception	exception	NOUN
cblr-7808	14	22	:	:	PUNCT
cblr-7808	14	23	their	their	PRON
cblr-7808	14	24	acceptance	acceptance	NOUN
cblr-7808	14	25	of	of	ADP
cblr-7808	14	26	the	the	DET
cblr-7808	14	27	use	use	NOUN
cblr-7808	14	28	of	of	ADP
cblr-7808	14	29	dual	dual	ADJ
cblr-7808	14	30	-	-	PUNCT
cblr-7808	14	31	class	class	NOUN
cblr-7808	14	32	stock	stock	NOUN
cblr-7808	14	33	.	.	PUNCT
cblr-7808	15	1	with	with	ADP
cblr-7808	15	2	a	a	DET
cblr-7808	15	3	perpetual	perpetual	ADJ
cblr-7808	15	4	lock	lock	NOUN
cblr-7808	15	5	on	on	ADP
cblr-7808	15	6	control	control	NOUN
cblr-7808	15	7	and	and	CCONJ
cblr-7808	15	8	a	a	DET
cblr-7808	15	9	limited	limited	ADJ
cblr-7808	15	10	equity	equity	NOUN
cblr-7808	15	11	stake	stake	NOUN
cblr-7808	15	12	,	,	PUNCT
cblr-7808	15	13	corporate	corporate	ADJ
cblr-7808	15	14	leaders	leader	NOUN
cblr-7808	15	15	will	will	AUX
cblr-7808	15	16	be	be	AUX
cblr-7808	15	17	immune	immune	ADJ
cblr-7808	15	18	to	to	ADP
cblr-7808	15	19	any	any	DET
cblr-7808	15	20	“	"	PUNCT
cblr-7808	15	21	institutional	institutional	ADJ
cblr-7808	15	22	brake	brake	NOUN
cblr-7808	15	23	”	"	PUNCT
cblr-7808	15	24	on	on	ADP
cblr-7808	15	25	all	all	DET
cblr-7808	15	26	forms	form	NOUN
cblr-7808	15	27	of	of	ADP
cblr-7808	15	28	long	long	ADJ
cblr-7808	15	29	-	-	PUNCT
cblr-7808	15	30	termist	termist	NOUN
cblr-7808	15	31	overinvestment	overinvestment	NOUN
cblr-7808	15	32	.	.	PUNCT
cblr-7808	16	1	if	if	SCONJ
cblr-7808	16	2	anything	anything	PRON
cblr-7808	16	3	,	,	PUNCT
cblr-7808	16	4	the	the	DET
cblr-7808	16	5	analysis	analysis	NOUN
cblr-7808	16	6	of	of	ADP
cblr-7808	16	7	barzuza	barzuza	NOUN
cblr-7808	16	8	and	and	CCONJ
cblr-7808	16	9	talley	talley	NOUN
cblr-7808	16	10	provides	provide	VERB
cblr-7808	16	11	an	an	DET
cblr-7808	16	12	additional	additional	ADJ
cblr-7808	16	13	strong	strong	ADJ
cblr-7808	16	14	justification	justification	NOUN
cblr-7808	16	15	to	to	PART
cblr-7808	16	16	oppose	oppose	VERB
cblr-7808	16	17	the	the	DET
cblr-7808	16	18	use	use	NOUN
cblr-7808	16	19	of	of	ADP
cblr-7808	16	20	perpetual	perpetual	ADJ
cblr-7808	16	21	dual	dual	ADJ
cblr-7808	16	22	-	-	PUNCT
cblr-7808	16	23	class	class	NOUN
cblr-7808	16	24	stock	stock	NOUN
cblr-7808	16	25	.	.	PUNCT
cblr-7808	17	1	i.	i.	PROPN
cblr-7808	17	2	introduction	introduction	NOUN
cblr-7808	17	3	...................................................................	...................................................................	PUNCT
cblr-7808	17	4	835	835	NUM
cblr-7808	17	5	ii	ii	NOUN
cblr-7808	17	6	.	.	PUNCT
cblr-7808	18	1	biases	bias	NOUN
cblr-7808	18	2	versus	versus	ADP
cblr-7808	18	3	incentives	incentive	NOUN
cblr-7808	18	4	..............................................	..............................................	PUNCT
cblr-7808	18	5	841	841	NUM
cblr-7808	18	6	a.	a.	NOUN
cblr-7808	18	7	the	the	DET
cblr-7808	18	8	importance	importance	NOUN
cblr-7808	18	9	of	of	ADP
cblr-7808	18	10	incentives	incentive	NOUN
cblr-7808	18	11	..............................	..............................	PUNCT
cblr-7808	18	12	841	841	NUM
cblr-7808	18	13	b.	b.	NOUN
cblr-7808	18	14	mitigating	mitigate	VERB
cblr-7808	18	15	factors	factor	NOUN
cblr-7808	18	16	...............................................	...............................................	PUNCT
cblr-7808	19	1	845	845	NUM
cblr-7808	19	2	1	1	NUM
cblr-7808	19	3	.	.	PUNCT
cblr-7808	19	4	executive	executive	PROPN
cblr-7808	19	5	compensation	compensation	PROPN
cblr-7808	19	6	................................	................................	PUNCT
cblr-7808	19	7	845	845	NUM
cblr-7808	19	8	2	2	NUM
cblr-7808	19	9	.	.	PUNCT
cblr-7808	19	10	market	market	NOUN
cblr-7808	19	11	signals	signal	NOUN
cblr-7808	19	12	...............................................	...............................................	PUNCT
cblr-7808	19	13	849	849	NUM
cblr-7808	19	14	3	3	NUM
cblr-7808	19	15	.	.	PUNCT
cblr-7808	19	16	risk	risk	NOUN
cblr-7808	19	17	of	of	ADP
cblr-7808	19	18	removal	removal	NOUN
cblr-7808	19	19	..............................................	..............................................	PUNCT
cblr-7808	19	20	851	851	NUM
cblr-7808	19	21	4	4	X
cblr-7808	19	22	.	.	PUNCT
cblr-7808	19	23	activist	activist	ADJ
cblr-7808	19	24	investors	investor	NOUN
cblr-7808	19	25	...........................................	...........................................	PUNCT
cblr-7808	19	26	854	854	NUM
cblr-7808	19	27	iii	iii	NOUN
cblr-7808	19	28	.	.	PUNCT
cblr-7808	19	29	long	long	ADJ
cblr-7808	19	30	-	-	PUNCT
cblr-7808	19	31	term	term	NOUN
cblr-7808	19	32	bias	bias	NOUN
cblr-7808	19	33	as	as	ADP
cblr-7808	19	34	a	a	DET
cblr-7808	19	35	private	private	ADJ
cblr-7808	19	36	benefit	benefit	NOUN
cblr-7808	19	37	?	?	PUNCT
cblr-7808	19	38	.........................	.........................	PUNCT
cblr-7808	20	1	857	857	NUM
cblr-7808	20	2	iv	iv	NOUN
cblr-7808	20	3	.	.	PUNCT
cblr-7808	20	4	implications	implication	NOUN
cblr-7808	20	5	..................................................................	..................................................................	PUNCT
cblr-7808	20	6	863	863	NUM
cblr-7808	20	7	v.	v.	ADP
cblr-7808	20	8	going	go	VERB
cblr-7808	20	9	forward	forward	ADV
cblr-7808	20	10	..............................................................	..............................................................	PUNCT
cblr-7808	20	11	867	867	NUM
cblr-7808	20	12	i.	i.	NOUN
cblr-7808	20	13	introduction	introduction	NOUN
cblr-7808	20	14	the	the	DET
cblr-7808	20	15	problem	problem	NOUN
cblr-7808	20	16	of	of	ADP
cblr-7808	20	17	managerial	managerial	ADJ
cblr-7808	20	18	short	short	ADJ
cblr-7808	20	19	-	-	PUNCT
cblr-7808	20	20	termism	termism	NOUN
cblr-7808	20	21	has	have	AUX
cblr-7808	20	22	long	long	ADV
cblr-7808	20	23	preoccupied	preoccupy	VERB
cblr-7808	20	24	policymakers	policymaker	NOUN
cblr-7808	20	25	,	,	PUNCT
cblr-7808	20	26	financial	financial	ADJ
cblr-7808	20	27	economists	economist	NOUN
cblr-7808	20	28	,	,	PUNCT
cblr-7808	20	29	governance	governance	NOUN
cblr-7808	20	30	scholars	scholar	NOUN
cblr-7808	20	31	,	,	PUNCT
cblr-7808	20	32	and	and	CCONJ
cblr-7808	20	33	practitioners.1	practitioners.1	VERB
cblr-7808	20	34	the	the	DET
cblr-7808	20	35	rise	rise	NOUN
cblr-7808	20	36	of	of	ADP
cblr-7808	20	37	hedge	hedge	NOUN
cblr-7808	20	38	fund	fund	NOUN
cblr-7808	20	39	activism	activism	NOUN
cblr-7808	20	40	has	have	AUX
cblr-7808	20	41	reinforced	reinforce	VERB
cblr-7808	20	42	concerns	concern	NOUN
cblr-7808	20	43	regarding	regard	VERB
cblr-7808	20	44	managers	manager	NOUN
cblr-7808	20	45	’	'	PUNCT
cblr-7808	20	46	purported	purport	VERB
cblr-7808	20	47	tendency	tendency	NOUN
cblr-7808	20	48	to	to	PART
cblr-7808	20	49	favor	favor	VERB
cblr-7808	20	50	the	the	DET
cblr-7808	20	51	short	short	ADJ
cblr-7808	20	52	term	term	NOUN
cblr-7808	20	53	at	at	ADP
cblr-7808	20	54	the	the	DET
cblr-7808	20	55	expense	expense	NOUN
cblr-7808	20	56	of	of	ADP
cblr-7808	20	57	the	the	DET
cblr-7808	20	58	long	long	ADJ
cblr-7808	20	59	1	1	NUM
cblr-7808	20	60	for	for	ADP
cblr-7808	20	61	a	a	DET
cblr-7808	20	62	review	review	NOUN
cblr-7808	20	63	of	of	ADP
cblr-7808	20	64	these	these	DET
cblr-7808	20	65	different	different	ADJ
cblr-7808	20	66	views	view	NOUN
cblr-7808	20	67	and	and	CCONJ
cblr-7808	20	68	the	the	DET
cblr-7808	20	69	asserted	asserted	ADJ
cblr-7808	20	70	gravity	gravity	NOUN
cblr-7808	20	71	of	of	ADP
cblr-7808	20	72	the	the	DET
cblr-7808	20	73	debate	debate	NOUN
cblr-7808	20	74	,	,	PUNCT
cblr-7808	20	75	see	see	VERB
cblr-7808	20	76	lucian	lucian	PROPN
cblr-7808	20	77	a.	a.	PROPN
cblr-7808	20	78	bebchuk	bebchuk	PROPN
cblr-7808	20	79	,	,	PUNCT
cblr-7808	20	80	the	the	DET
cblr-7808	20	81	myth	myth	NOUN
cblr-7808	20	82	that	that	SCONJ
cblr-7808	20	83	insulating	insulate	VERB
cblr-7808	20	84	boards	board	NOUN
cblr-7808	20	85	serves	serve	VERB
cblr-7808	20	86	long	long	ADJ
cblr-7808	20	87	-	-	PUNCT
cblr-7808	20	88	term	term	NOUN
cblr-7808	20	89	value	value	NOUN
cblr-7808	20	90	,	,	PUNCT
cblr-7808	20	91	113	113	NUM
cblr-7808	20	92	colum	colum	NOUN
cblr-7808	20	93	.	.	PUNCT
cblr-7808	21	1	l.	l.	PROPN
cblr-7808	21	2	rev	rev	PROPN
cblr-7808	21	3	.	.	PROPN
cblr-7808	21	4	1637	1637	NUM
cblr-7808	21	5	,	,	PUNCT
cblr-7808	21	6	1646–58	1646–58	NUM
cblr-7808	21	7	(	(	PUNCT
cblr-7808	21	8	2013	2013	NUM
cblr-7808	21	9	)	)	PUNCT
cblr-7808	21	10	.	.	PUNCT
cblr-7808	22	1	kastiel	kastiel	PROPN
cblr-7808	22	2	(	(	PUNCT
cblr-7808	22	3	comment	comment	NOUN
cblr-7808	22	4	)	)	PUNCT
cblr-7808	22	5	1/15/2021	1/15/2021	NUM
cblr-7808	22	6	2:38	2:38	NUM
cblr-7808	22	7	pm	pm	NOUN
cblr-7808	22	8	836	836	NUM
cblr-7808	22	9	columbia	columbia	PROPN
cblr-7808	22	10	business	business	NOUN
cblr-7808	22	11	law	law	PROPN
cblr-7808	22	12	review	review	NOUN
cblr-7808	22	13	[	[	X
cblr-7808	22	14	vol	vol	NOUN
cblr-7808	22	15	.	.	PUNCT
cblr-7808	22	16	2020	2020	NUM
cblr-7808	23	1	term.2	term.2	ADP
cblr-7808	23	2	these	these	DET
cblr-7808	23	3	concerns	concern	NOUN
cblr-7808	23	4	have	have	AUX
cblr-7808	23	5	led	lead	VERB
cblr-7808	23	6	to	to	ADP
cblr-7808	23	7	a	a	DET
cblr-7808	23	8	heated	heated	ADJ
cblr-7808	23	9	,	,	PUNCT
cblr-7808	23	10	ongoing	ongoing	ADJ
cblr-7808	23	11	public	public	ADJ
cblr-7808	23	12	debate	debate	NOUN
cblr-7808	23	13	on	on	ADP
cblr-7808	23	14	the	the	DET
cblr-7808	23	15	very	very	ADJ
cblr-7808	23	16	existence	existence	NOUN
cblr-7808	23	17	of	of	ADP
cblr-7808	23	18	such	such	ADJ
cblr-7808	23	19	short	short	ADJ
cblr-7808	23	20	-	-	PUNCT
cblr-7808	23	21	term	term	NOUN
cblr-7808	23	22	bias,3	bias,3	NOUN
cblr-7808	23	23	its	its	PRON
cblr-7808	23	24	financial	financial	ADJ
cblr-7808	23	25	consequences,4	consequences,4	NOUN
cblr-7808	23	26	and	and	CCONJ
cblr-7808	23	27	the	the	DET
cblr-7808	23	28	need	need	NOUN
cblr-7808	23	29	to	to	PART
cblr-7808	23	30	enact	enact	VERB
cblr-7808	23	31	legal	legal	ADJ
cblr-7808	23	32	reforms	reform	NOUN
cblr-7808	23	33	to	to	PART
cblr-7808	23	34	mitigate	mitigate	VERB
cblr-7808	23	35	it.5	it.5	NOUN
cblr-7808	23	36	researchers	researcher	NOUN
cblr-7808	23	37	have	have	AUX
cblr-7808	23	38	given	give	VERB
cblr-7808	23	39	much	much	ADV
cblr-7808	23	40	less	less	ADJ
cblr-7808	23	41	attention	attention	NOUN
cblr-7808	23	42	,	,	PUNCT
cblr-7808	23	43	however	however	ADV
cblr-7808	23	44	,	,	PUNCT
cblr-7808	23	45	to	to	ADP
cblr-7808	23	46	the	the	DET
cblr-7808	23	47	converse	converse	NOUN
cblr-7808	23	48	problem	problem	NOUN
cblr-7808	23	49	of	of	ADP
cblr-7808	23	50	managerial	managerial	ADJ
cblr-7808	23	51	long	long	ADJ
cblr-7808	23	52	-	-	PUNCT
cblr-7808	23	53	termism	termism	NOUN
cblr-7808	23	54	.	.	PUNCT
cblr-7808	24	1	barzuza	barzuza	NOUN
cblr-7808	24	2	and	and	CCONJ
cblr-7808	24	3	talley	talley	PROPN
cblr-7808	24	4	fill	fill	VERB
cblr-7808	24	5	this	this	DET
cblr-7808	24	6	gap	gap	NOUN
cblr-7808	24	7	in	in	ADP
cblr-7808	24	8	their	their	PRON
cblr-7808	24	9	thought	thought	NOUN
cblr-7808	24	10	-	-	PUNCT
cblr-7808	24	11	provoking	provoke	VERB
cblr-7808	24	12	and	and	CCONJ
cblr-7808	24	13	well	well	ADV
cblr-7808	24	14	2	2	NUM
cblr-7808	24	15	see	see	VERB
cblr-7808	24	16	,	,	PUNCT
cblr-7808	24	17	e.g.	e.g.	ADV
cblr-7808	24	18	,	,	PUNCT
cblr-7808	24	19	john	john	PROPN
cblr-7808	24	20	c.	c.	PROPN
cblr-7808	24	21	coffee	coffee	PROPN
cblr-7808	24	22	,	,	PUNCT
cblr-7808	24	23	jr	jr	PROPN
cblr-7808	24	24	.	.	PROPN
cblr-7808	24	25	&	&	CCONJ
cblr-7808	24	26	darius	darius	PROPN
cblr-7808	24	27	palia	palia	PROPN
cblr-7808	24	28	,	,	PUNCT
cblr-7808	24	29	the	the	DET
cblr-7808	24	30	wolf	wolf	NOUN
cblr-7808	24	31	at	at	ADP
cblr-7808	24	32	the	the	DET
cblr-7808	24	33	door	door	NOUN
cblr-7808	24	34	:	:	PUNCT
cblr-7808	24	35	the	the	DET
cblr-7808	24	36	impact	impact	NOUN
cblr-7808	24	37	of	of	ADP
cblr-7808	24	38	hedge	hedge	NOUN
cblr-7808	24	39	fund	fund	NOUN
cblr-7808	24	40	activism	activism	NOUN
cblr-7808	24	41	on	on	ADP
cblr-7808	24	42	corporate	corporate	ADJ
cblr-7808	24	43	governance	governance	NOUN
cblr-7808	24	44	,	,	PUNCT
cblr-7808	24	45	41	41	NUM
cblr-7808	24	46	j.	j.	PROPN
cblr-7808	24	47	corp	corp	PROPN
cblr-7808	24	48	.	.	PROPN
cblr-7808	24	49	l.	l.	PROPN
cblr-7808	24	50	545	545	NUM
cblr-7808	24	51	,	,	PUNCT
cblr-7808	24	52	573	573	NUM
cblr-7808	24	53	(	(	PUNCT
cblr-7808	24	54	2016	2016	NUM
cblr-7808	24	55	)	)	PUNCT
cblr-7808	24	56	;	;	PUNCT
cblr-7808	24	57	leo	leo	PROPN
cblr-7808	24	58	e.	e.	PROPN
cblr-7808	24	59	strine	strine	PROPN
cblr-7808	24	60	,	,	PUNCT
cblr-7808	24	61	jr	jr	PROPN
cblr-7808	24	62	.	.	PROPN
cblr-7808	24	63	,	,	PUNCT
cblr-7808	24	64	who	who	PRON
cblr-7808	24	65	bleeds	bleed	VERB
cblr-7808	24	66	when	when	SCONJ
cblr-7808	24	67	the	the	DET
cblr-7808	24	68	wolves	wolf	NOUN
cblr-7808	24	69	bite	bite	VERB
cblr-7808	24	70	?	?	PUNCT
cblr-7808	25	1	:	:	PUNCT
cblr-7808	25	2	a	a	DET
cblr-7808	25	3	flesh	flesh	NOUN
cblr-7808	25	4	-	-	PUNCT
cblr-7808	25	5	and	and	CCONJ
cblr-7808	25	6	-	-	PUNCT
cblr-7808	25	7	blood	blood	NOUN
cblr-7808	25	8	perspective	perspective	NOUN
cblr-7808	25	9	on	on	ADP
cblr-7808	25	10	hedge	hedge	NOUN
cblr-7808	25	11	fund	fund	NOUN
cblr-7808	25	12	activism	activism	NOUN
cblr-7808	25	13	and	and	CCONJ
cblr-7808	25	14	our	our	PRON
cblr-7808	25	15	strange	strange	ADJ
cblr-7808	25	16	corporate	corporate	ADJ
cblr-7808	25	17	governance	governance	NOUN
cblr-7808	25	18	system	system	NOUN
cblr-7808	25	19	,	,	PUNCT
cblr-7808	25	20	126	126	NUM
cblr-7808	25	21	yale	yale	PROPN
cblr-7808	25	22	l.j	l.j	PROPN
cblr-7808	25	23	.	.	PROPN
cblr-7808	25	24	1870	1870	NUM
cblr-7808	25	25	,	,	PUNCT
cblr-7808	25	26	1884–86	1884–86	NUM
cblr-7808	25	27	,	,	PUNCT
cblr-7808	25	28	1892	1892	NUM
cblr-7808	25	29	(	(	PUNCT
cblr-7808	25	30	2017	2017	NUM
cblr-7808	25	31	)	)	PUNCT
cblr-7808	25	32	.	.	PUNCT
cblr-7808	26	1	3	3	NUM
cblr-7808	26	2	see	see	VERB
cblr-7808	26	3	,	,	PUNCT
cblr-7808	26	4	e.g.	e.g.	ADV
cblr-7808	26	5	,	,	PUNCT
cblr-7808	26	6	mark	mark	PROPN
cblr-7808	26	7	j.	j.	PROPN
cblr-7808	26	8	roe	roe	PROPN
cblr-7808	26	9	,	,	PUNCT
cblr-7808	26	10	stock	stock	NOUN
cblr-7808	26	11	market	market	NOUN
cblr-7808	26	12	short	short	ADJ
cblr-7808	26	13	-	-	PUNCT
cblr-7808	26	14	termism	termism	NOUN
cblr-7808	26	15	’s	’s	PART
cblr-7808	26	16	impact	impact	NOUN
cblr-7808	26	17	,	,	PUNCT
cblr-7808	26	18	167	167	NUM
cblr-7808	26	19	u.	u.	PROPN
cblr-7808	26	20	pa	pa	PROPN
cblr-7808	26	21	.	.	PUNCT
cblr-7808	26	22	l.	l.	PROPN
cblr-7808	26	23	rev	rev	PROPN
cblr-7808	26	24	.	.	PROPN
cblr-7808	26	25	71	71	NUM
cblr-7808	26	26	,	,	PUNCT
cblr-7808	26	27	113–16	113–16	NUM
cblr-7808	26	28	(	(	PUNCT
cblr-7808	26	29	2018	2018	NUM
cblr-7808	26	30	)	)	PUNCT
cblr-7808	26	31	(	(	PUNCT
cblr-7808	26	32	arguing	argue	VERB
cblr-7808	26	33	that	that	SCONJ
cblr-7808	26	34	short	short	ADJ
cblr-7808	26	35	-	-	PUNCT
cblr-7808	26	36	termism	termism	NOUN
cblr-7808	26	37	is	be	AUX
cblr-7808	26	38	relatively	relatively	ADV
cblr-7808	26	39	unimportant	unimportant	ADJ
cblr-7808	26	40	)	)	PUNCT
cblr-7808	26	41	;	;	PUNCT
cblr-7808	26	42	charles	charles	PROPN
cblr-7808	26	43	nathan	nathan	PROPN
cblr-7808	26	44	&	&	CCONJ
cblr-7808	26	45	kal	kal	PROPN
cblr-7808	26	46	goldberg	goldberg	PROPN
cblr-7808	26	47	,	,	PUNCT
cblr-7808	26	48	the	the	DET
cblr-7808	26	49	short	short	ADJ
cblr-7808	26	50	-	-	PUNCT
cblr-7808	26	51	termism	termism	NOUN
cblr-7808	26	52	thesis	thesis	NOUN
cblr-7808	26	53	:	:	PUNCT
cblr-7808	26	54	dogma	dogma	NOUN
cblr-7808	26	55	vs.	vs.	ADP
cblr-7808	26	56	reality	reality	NOUN
cblr-7808	26	57	,	,	PUNCT
cblr-7808	26	58	harv	harv	PROPN
cblr-7808	26	59	.	.	PUNCT
cblr-7808	27	1	l.	l.	PROPN
cblr-7808	27	2	sch	sch	PROPN
cblr-7808	27	3	.	.	PUNCT
cblr-7808	28	1	f.	f.	PROPN
cblr-7808	28	2	on	on	ADP
cblr-7808	28	3	corp	corp	PROPN
cblr-7808	28	4	.	.	PROPN
cblr-7808	28	5	governance	governance	PROPN
cblr-7808	28	6	(	(	PUNCT
cblr-7808	28	7	mar	mar	PROPN
cblr-7808	28	8	.	.	PROPN
cblr-7808	28	9	18	18	NUM
cblr-7808	28	10	,	,	PUNCT
cblr-7808	28	11	2019	2019	NUM
cblr-7808	28	12	)	)	PUNCT
cblr-7808	28	13	,	,	PUNCT
cblr-7808	28	14	https://corpgov.law.harvard.edu/2019/03/18/the-short-termism-thesisdogma-vs-reality/	https://corpgov.law.harvard.edu/2019/03/18/the-short-termism-thesisdogma-vs-reality/	PROPN
cblr-7808	29	1	[	[	X
cblr-7808	29	2	https://perma.cc/jc5k-lpdk	https://perma.cc/jc5k-lpdk	X
cblr-7808	29	3	]	]	X
cblr-7808	29	4	(	(	PUNCT
cblr-7808	29	5	challenging	challenge	VERB
cblr-7808	29	6	“	"	PUNCT
cblr-7808	29	7	[	[	X
cblr-7808	29	8	t]he	t]he	ADV
cblr-7808	29	9	belief	belief	NOUN
cblr-7808	29	10	that	that	SCONJ
cblr-7808	29	11	short	short	ADJ
cblr-7808	29	12	-	-	PUNCT
cblr-7808	29	13	termism	termism	NOUN
cblr-7808	29	14	.	.	PUNCT
cblr-7808	29	15	.	.	PUNCT
cblr-7808	30	1	.	.	PUNCT
cblr-7808	31	1	is	be	AUX
cblr-7808	31	2	seriously	seriously	ADV
cblr-7808	31	3	.	.	PUNCT
cblr-7808	31	4	.	.	PUNCT
cblr-7808	31	5	.	.	PUNCT
cblr-7808	32	1	damaging	damage	VERB
cblr-7808	32	2	our	our	PRON
cblr-7808	32	3	economy	economy	NOUN
cblr-7808	32	4	”	"	PUNCT
cblr-7808	32	5	)	)	PUNCT
cblr-7808	32	6	.	.	PUNCT
cblr-7808	32	7	4	4	NUM
cblr-7808	32	8	for	for	ADP
cblr-7808	32	9	studies	study	NOUN
cblr-7808	32	10	documenting	document	VERB
cblr-7808	32	11	the	the	DET
cblr-7808	32	12	positive	positive	ADJ
cblr-7808	32	13	long	long	ADJ
cblr-7808	32	14	-	-	PUNCT
cblr-7808	32	15	term	term	NOUN
cblr-7808	32	16	effects	effect	NOUN
cblr-7808	32	17	of	of	ADP
cblr-7808	32	18	hedge	hedge	NOUN
cblr-7808	32	19	funds	fund	NOUN
cblr-7808	32	20	,	,	PUNCT
cblr-7808	32	21	see	see	VERB
cblr-7808	32	22	,	,	PUNCT
cblr-7808	32	23	e.g.	e.g.	ADV
cblr-7808	32	24	,	,	PUNCT
cblr-7808	32	25	generally	generally	ADV
cblr-7808	32	26	alon	alon	PROPN
cblr-7808	32	27	brav	brav	PROPN
cblr-7808	32	28	,	,	PUNCT
cblr-7808	32	29	wei	wei	PROPN
cblr-7808	32	30	jiang	jiang	PROPN
cblr-7808	32	31	,	,	PUNCT
cblr-7808	32	32	frank	frank	PROPN
cblr-7808	32	33	partnoy	partnoy	PROPN
cblr-7808	32	34	&	&	CCONJ
cblr-7808	32	35	randall	randall	PROPN
cblr-7808	32	36	thomas	thomas	PROPN
cblr-7808	32	37	,	,	PUNCT
cblr-7808	32	38	hedge	hedge	NOUN
cblr-7808	32	39	fund	fund	NOUN
cblr-7808	32	40	activism	activism	NOUN
cblr-7808	32	41	,	,	PUNCT
cblr-7808	32	42	corporate	corporate	ADJ
cblr-7808	32	43	governance	governance	NOUN
cblr-7808	32	44	,	,	PUNCT
cblr-7808	32	45	and	and	CCONJ
cblr-7808	32	46	firm	firm	ADJ
cblr-7808	32	47	performance	performance	NOUN
cblr-7808	32	48	,	,	PUNCT
cblr-7808	32	49	63	63	NUM
cblr-7808	32	50	j.	j.	PROPN
cblr-7808	32	51	fin	fin	PROPN
cblr-7808	32	52	.	.	PUNCT
cblr-7808	33	1	1729	1729	NUM
cblr-7808	33	2	(	(	PUNCT
cblr-7808	33	3	2008	2008	NUM
cblr-7808	33	4	)	)	PUNCT
cblr-7808	33	5	;	;	PUNCT
cblr-7808	33	6	lucian	lucian	PROPN
cblr-7808	33	7	a.	a.	PROPN
cblr-7808	33	8	bebchuk	bebchuk	PROPN
cblr-7808	33	9	,	,	PUNCT
cblr-7808	33	10	alon	alon	PROPN
cblr-7808	33	11	brav	brav	PROPN
cblr-7808	33	12	&	&	CCONJ
cblr-7808	33	13	wei	wei	PROPN
cblr-7808	33	14	jiang	jiang	PROPN
cblr-7808	33	15	,	,	PUNCT
cblr-7808	33	16	the	the	DET
cblr-7808	33	17	longterm	longterm	ADJ
cblr-7808	33	18	effects	effect	NOUN
cblr-7808	33	19	of	of	ADP
cblr-7808	33	20	hedge	hedge	NOUN
cblr-7808	33	21	fund	fund	NOUN
cblr-7808	33	22	activism	activism	NOUN
cblr-7808	33	23	,	,	PUNCT
cblr-7808	33	24	115	115	NUM
cblr-7808	33	25	colum	colum	NOUN
cblr-7808	33	26	.	.	PUNCT
cblr-7808	34	1	l.	l.	PROPN
cblr-7808	34	2	rev	rev	PROPN
cblr-7808	34	3	.	.	PROPN
cblr-7808	34	4	1085	1085	NUM
cblr-7808	34	5	(	(	PUNCT
cblr-7808	34	6	2015	2015	NUM
cblr-7808	34	7	)	)	PUNCT
cblr-7808	34	8	.	.	PUNCT
cblr-7808	35	1	but	but	CCONJ
cblr-7808	35	2	see	see	VERB
cblr-7808	35	3	generally	generally	ADV
cblr-7808	35	4	k.j	k.j	PROPN
cblr-7808	35	5	.	.	PUNCT
cblr-7808	36	1	martijn	martijn	PROPN
cblr-7808	36	2	cremers	cremers	PROPN
cblr-7808	36	3	,	,	PUNCT
cblr-7808	36	4	erasmo	erasmo	PROPN
cblr-7808	36	5	giambona	giambona	PROPN
cblr-7808	36	6	,	,	PUNCT
cblr-7808	36	7	simone	simone	PROPN
cblr-7808	36	8	m.	m.	PROPN
cblr-7808	36	9	sepe	sepe	PROPN
cblr-7808	36	10	&	&	CCONJ
cblr-7808	36	11	ye	ye	PROPN
cblr-7808	36	12	wang	wang	PROPN
cblr-7808	36	13	,	,	PUNCT
cblr-7808	36	14	hedge	hedge	NOUN
cblr-7808	36	15	fund	fund	NOUN
cblr-7808	36	16	activism	activism	NOUN
cblr-7808	36	17	and	and	CCONJ
cblr-7808	36	18	long	long	ADJ
cblr-7808	36	19	-	-	PUNCT
cblr-7808	36	20	term	term	NOUN
cblr-7808	36	21	firm	firm	ADJ
cblr-7808	36	22	value	value	NOUN
cblr-7808	36	23	(	(	PUNCT
cblr-7808	36	24	december	december	PROPN
cblr-7808	36	25	13	13	NUM
cblr-7808	36	26	,	,	PUNCT
cblr-7808	36	27	2018	2018	NUM
cblr-7808	36	28	)	)	PUNCT
cblr-7808	36	29	(	(	PUNCT
cblr-7808	36	30	unpublished	unpublished	ADJ
cblr-7808	36	31	manuscript	manuscript	NOUN
cblr-7808	36	32	)	)	PUNCT
cblr-7808	36	33	,	,	PUNCT
cblr-7808	36	34	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2693231	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2693231	PROPN
cblr-7808	36	35	(	(	PUNCT
cblr-7808	36	36	on	on	ADP
cblr-7808	36	37	file	file	NOUN
cblr-7808	36	38	with	with	ADP
cblr-7808	36	39	the	the	DET
cblr-7808	36	40	columbia	columbia	PROPN
cblr-7808	36	41	business	business	PROPN
cblr-7808	36	42	law	law	PROPN
cblr-7808	36	43	review	review	PROPN
cblr-7808	36	44	)	)	PUNCT
cblr-7808	36	45	(	(	PUNCT
cblr-7808	36	46	finding	find	VERB
cblr-7808	36	47	that	that	SCONJ
cblr-7808	36	48	activist	activist	ADJ
cblr-7808	36	49	hedge	hedge	NOUN
cblr-7808	36	50	funds	fund	NOUN
cblr-7808	36	51	pick	pick	VERB
cblr-7808	36	52	stocks	stock	NOUN
cblr-7808	36	53	well	well	ADV
cblr-7808	36	54	but	but	CCONJ
cblr-7808	36	55	do	do	AUX
cblr-7808	36	56	not	not	PART
cblr-7808	36	57	cause	cause	VERB
cblr-7808	36	58	long	long	ADJ
cblr-7808	36	59	-	-	PUNCT
cblr-7808	36	60	term	term	NOUN
cblr-7808	36	61	abnormal	abnormal	ADJ
cblr-7808	36	62	stock	stock	NOUN
cblr-7808	36	63	returns	return	NOUN
cblr-7808	36	64	)	)	PUNCT
cblr-7808	36	65	.	.	PUNCT
cblr-7808	37	1	5	5	NUM
cblr-7808	37	2	see	see	VERB
cblr-7808	37	3	,	,	PUNCT
cblr-7808	37	4	e.g.	e.g.	ADV
cblr-7808	37	5	,	,	PUNCT
cblr-7808	37	6	the	the	DET
cblr-7808	37	7	aspen	aspen	PROPN
cblr-7808	37	8	inst	inst	PROPN
cblr-7808	37	9	.	.	PROPN
cblr-7808	37	10	,	,	PUNCT
cblr-7808	37	11	overcoming	overcome	VERB
cblr-7808	37	12	short	short	ADJ
cblr-7808	37	13	-	-	PUNCT
cblr-7808	37	14	termism	termism	NOUN
cblr-7808	37	15	:	:	PUNCT
cblr-7808	37	16	a	a	DET
cblr-7808	37	17	call	call	NOUN
cblr-7808	37	18	for	for	ADP
cblr-7808	37	19	a	a	DET
cblr-7808	37	20	more	more	ADV
cblr-7808	37	21	responsible	responsible	ADJ
cblr-7808	37	22	approach	approach	NOUN
cblr-7808	37	23	to	to	ADP
cblr-7808	37	24	investment	investment	NOUN
cblr-7808	37	25	and	and	CCONJ
cblr-7808	37	26	business	business	NOUN
cblr-7808	37	27	management	management	NOUN
cblr-7808	37	28	2–3	2–3	PROPN
cblr-7808	37	29	,	,	PUNCT
cblr-7808	37	30	5–6	5–6	NUM
cblr-7808	37	31	(	(	PUNCT
cblr-7808	37	32	2009	2009	NUM
cblr-7808	37	33	)	)	PUNCT
cblr-7808	37	34	,	,	PUNCT
cblr-7808	37	35	https://assets.aspeninstitute.org/content/uploads/files/content/docs/pubs/ov	https://assets.aspeninstitute.org/content/uploads/files/content/docs/pubs/ov	NOUN
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cblr-7808	37	37	[	[	X
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cblr-7808	37	39	]	]	X
cblr-7808	37	40	(	(	PUNCT
cblr-7808	37	41	calling	call	VERB
cblr-7808	37	42	for	for	ADP
cblr-7808	37	43	a	a	DET
cblr-7808	37	44	collective	collective	ADJ
cblr-7808	37	45	response	response	NOUN
cblr-7808	37	46	and	and	CCONJ
cblr-7808	37	47	approach	approach	NOUN
cblr-7808	37	48	towards	towards	ADP
cblr-7808	37	49	short	short	ADJ
cblr-7808	37	50	-	-	PUNCT
cblr-7808	37	51	termism	termism	NOUN
cblr-7808	37	52	)	)	PUNCT
cblr-7808	37	53	.	.	PUNCT
cblr-7808	38	1	but	but	CCONJ
cblr-7808	38	2	cf	cf	X
cblr-7808	38	3	.	.	PUNCT
cblr-7808	39	1	also	also	ADV
cblr-7808	39	2	martin	martin	PROPN
cblr-7808	39	3	lipton	lipton	PROPN
cblr-7808	39	4	,	,	PUNCT
cblr-7808	39	5	corporate	corporate	ADJ
cblr-7808	39	6	governance	governance	NOUN
cblr-7808	39	7	:	:	PUNCT
cblr-7808	39	8	the	the	DET
cblr-7808	39	9	new	new	ADJ
cblr-7808	39	10	paradigm	paradigm	NOUN
cblr-7808	39	11	,	,	PUNCT
cblr-7808	39	12	harv	harv	PROPN
cblr-7808	39	13	.	.	PUNCT
cblr-7808	40	1	l.	l.	PROPN
cblr-7808	40	2	sch	sch	PROPN
cblr-7808	40	3	.	.	PUNCT
cblr-7808	41	1	f.	f.	PROPN
cblr-7808	41	2	on	on	ADP
cblr-7808	41	3	corp	corp	PROPN
cblr-7808	41	4	.	.	PROPN
cblr-7808	41	5	governance	governance	PROPN
cblr-7808	41	6	(	(	PUNCT
cblr-7808	41	7	jan	jan	PROPN
cblr-7808	41	8	.	.	PROPN
cblr-7808	41	9	11	11	NUM
cblr-7808	41	10	,	,	PUNCT
cblr-7808	41	11	2017	2017	NUM
cblr-7808	41	12	)	)	PUNCT
cblr-7808	41	13	,	,	PUNCT
cblr-7808	41	14	https://corpgov.law.harvard.edu/2017/01/11/corporate-governance-the-newparadigm/	https://corpgov.law.harvard.edu/2017/01/11/corporate-governance-the-newparadigm/	PROPN
cblr-7808	42	1	[	[	X
cblr-7808	42	2	https://perma.cc/mr5k-3z82	https://perma.cc/mr5k-3z82	X
cblr-7808	42	3	]	]	PUNCT
cblr-7808	42	4	(	(	PUNCT
cblr-7808	42	5	encouraging	encourage	VERB
cblr-7808	42	6	reforms	reform	NOUN
cblr-7808	42	7	that	that	PRON
cblr-7808	42	8	start	start	VERB
cblr-7808	42	9	with	with	ADP
cblr-7808	42	10	voluntary	voluntary	ADJ
cblr-7808	42	11	corporate	corporate	ADJ
cblr-7808	42	12	and	and	CCONJ
cblr-7808	42	13	investor	investor	NOUN
cblr-7808	42	14	action	action	NOUN
cblr-7808	42	15	)	)	PUNCT
cblr-7808	42	16	.	.	PUNCT
cblr-7808	43	1	for	for	ADP
cblr-7808	43	2	a	a	DET
cblr-7808	43	3	review	review	NOUN
cblr-7808	43	4	of	of	ADP
cblr-7808	43	5	,	,	PUNCT
cblr-7808	43	6	and	and	CCONJ
cblr-7808	43	7	opposition	opposition	NOUN
cblr-7808	43	8	to	to	ADP
cblr-7808	43	9	,	,	PUNCT
cblr-7808	43	10	such	such	ADJ
cblr-7808	43	11	proposed	propose	VERB
cblr-7808	43	12	reforms	reform	NOUN
cblr-7808	43	13	,	,	PUNCT
cblr-7808	43	14	see	see	VERB
cblr-7808	43	15	,	,	PUNCT
cblr-7808	43	16	e.g.	e.g.	ADV
cblr-7808	43	17	,	,	PUNCT
cblr-7808	43	18	bebchuk	bebchuk	NOUN
cblr-7808	43	19	,	,	PUNCT
cblr-7808	43	20	supra	supra	PROPN
cblr-7808	43	21	note	note	NOUN
cblr-7808	43	22	1	1	NUM
cblr-7808	43	23	,	,	PUNCT
cblr-7808	43	24	at	at	ADP
cblr-7808	43	25	1640–42	1640–42	NUM
cblr-7808	43	26	.	.	PUNCT
cblr-7808	44	1	kastiel	kastiel	PROPN
cblr-7808	44	2	(	(	PUNCT
cblr-7808	44	3	comment	comment	NOUN
cblr-7808	44	4	)	)	PUNCT
cblr-7808	44	5	1/15/2021	1/15/2021	NUM
cblr-7808	44	6	2:38	2:38	NUM
cblr-7808	44	7	pm	pm	NOUN
cblr-7808	44	8	no	no	INTJ
cblr-7808	44	9	.	.	PUNCT
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cblr-7808	45	3	long	long	ADJ
cblr-7808	45	4	-	-	PUNCT
cblr-7808	45	5	term	term	NOUN
cblr-7808	45	6	bias	bias	NOUN
cblr-7808	45	7	,	,	PUNCT
cblr-7808	45	8	incentives	incentive	NOUN
cblr-7808	45	9	,	,	PUNCT
cblr-7808	45	10	and	and	CCONJ
cblr-7808	45	11	agency	agency	NOUN
cblr-7808	45	12	costs	cost	VERB
cblr-7808	45	13	837	837	NUM
cblr-7808	45	14	written	write	VERB
cblr-7808	45	15	article	article	NOUN
cblr-7808	45	16	long	long	ADJ
cblr-7808	45	17	-	-	PUNCT
cblr-7808	45	18	term	term	NOUN
cblr-7808	45	19	bias.6	bias.6	PROPN
cblr-7808	45	20	relying	rely	VERB
cblr-7808	45	21	on	on	ADP
cblr-7808	45	22	the	the	DET
cblr-7808	45	23	behavioral	behavioral	ADJ
cblr-7808	45	24	finance	finance	NOUN
cblr-7808	45	25	and	and	CCONJ
cblr-7808	45	26	psychology	psychology	NOUN
cblr-7808	45	27	literatures	literature	NOUN
cblr-7808	45	28	,	,	PUNCT
cblr-7808	45	29	the	the	DET
cblr-7808	45	30	authors	author	NOUN
cblr-7808	45	31	provide	provide	VERB
cblr-7808	45	32	a	a	DET
cblr-7808	45	33	novel	novel	ADJ
cblr-7808	45	34	analysis	analysis	NOUN
cblr-7808	45	35	of	of	ADP
cblr-7808	45	36	managerial	managerial	ADJ
cblr-7808	45	37	long	long	ADJ
cblr-7808	45	38	-	-	PUNCT
cblr-7808	45	39	term	term	NOUN
cblr-7808	45	40	bias	bias	NOUN
cblr-7808	45	41	.	.	PUNCT
cblr-7808	46	1	they	they	PRON
cblr-7808	46	2	show	show	VERB
cblr-7808	46	3	that	that	SCONJ
cblr-7808	46	4	executives	executive	NOUN
cblr-7808	46	5	could	could	AUX
cblr-7808	46	6	suffer	suffer	VERB
cblr-7808	46	7	from	from	ADP
cblr-7808	46	8	a	a	DET
cblr-7808	46	9	long	long	ADJ
cblr-7808	46	10	-	-	PUNCT
cblr-7808	46	11	term	term	NOUN
cblr-7808	46	12	bias	bias	NOUN
cblr-7808	46	13	as	as	ADV
cblr-7808	46	14	well	well	ADV
cblr-7808	46	15	as	as	ADP
cblr-7808	46	16	the	the	DET
cblr-7808	46	17	commonly	commonly	ADV
cblr-7808	46	18	-	-	PUNCT
cblr-7808	46	19	recognized	recognize	VERB
cblr-7808	46	20	short	short	ADJ
cblr-7808	46	21	-	-	PUNCT
cblr-7808	46	22	term	term	NOUN
cblr-7808	46	23	bias	bias	NOUN
cblr-7808	46	24	,	,	PUNCT
cblr-7808	46	25	and	and	CCONJ
cblr-7808	46	26	that	that	SCONJ
cblr-7808	46	27	focusing	focus	VERB
cblr-7808	46	28	on	on	ADP
cblr-7808	46	29	the	the	DET
cblr-7808	46	30	long	long	ADJ
cblr-7808	46	31	term	term	NOUN
cblr-7808	46	32	may	may	AUX
cblr-7808	46	33	be	be	AUX
cblr-7808	46	34	just	just	ADV
cblr-7808	46	35	as	as	ADV
cblr-7808	46	36	detrimental	detrimental	ADJ
cblr-7808	46	37	as	as	ADP
cblr-7808	46	38	focusing	focus	VERB
cblr-7808	46	39	on	on	ADP
cblr-7808	46	40	the	the	DET
cblr-7808	46	41	short	short	ADJ
cblr-7808	46	42	term.7	term.7	NOUN
cblr-7808	46	43	thus	thus	ADV
cblr-7808	46	44	,	,	PUNCT
cblr-7808	46	45	the	the	DET
cblr-7808	46	46	intense	intense	ADJ
cblr-7808	46	47	debate	debate	NOUN
cblr-7808	46	48	about	about	ADP
cblr-7808	46	49	short	short	ADJ
cblr-7808	46	50	-	-	PUNCT
cblr-7808	46	51	termism	termism	NOUN
cblr-7808	46	52	is	be	AUX
cblr-7808	46	53	incomplete	incomplete	ADJ
cblr-7808	46	54	without	without	ADP
cblr-7808	46	55	recognizing	recognize	VERB
cblr-7808	46	56	both	both	CCONJ
cblr-7808	46	57	the	the	DET
cblr-7808	46	58	converse	converse	NOUN
cblr-7808	46	59	longtermism	longtermism	NOUN
cblr-7808	46	60	bias	bias	NOUN
cblr-7808	46	61	,	,	PUNCT
cblr-7808	46	62	and	and	CCONJ
cblr-7808	46	63	the	the	DET
cblr-7808	46	64	interactions	interaction	NOUN
cblr-7808	46	65	between	between	ADP
cblr-7808	46	66	the	the	DET
cblr-7808	46	67	two	two	NUM
cblr-7808	46	68	biases.8	biases.8	PROPN
cblr-7808	46	69	barzuza	barzuza	NOUN
cblr-7808	46	70	and	and	CCONJ
cblr-7808	46	71	talley	talley	NOUN
cblr-7808	46	72	supplement	supplement	VERB
cblr-7808	46	73	their	their	PRON
cblr-7808	46	74	analysis	analysis	NOUN
cblr-7808	46	75	by	by	ADP
cblr-7808	46	76	examining	examine	VERB
cblr-7808	46	77	three	three	NUM
cblr-7808	46	78	high	high	ADJ
cblr-7808	46	79	-	-	PUNCT
cblr-7808	46	80	profile	profile	NOUN
cblr-7808	46	81	case	case	NOUN
cblr-7808	46	82	studies	study	NOUN
cblr-7808	46	83	that	that	PRON
cblr-7808	46	84	demonstrate	demonstrate	VERB
cblr-7808	46	85	the	the	DET
cblr-7808	46	86	negative	negative	ADJ
cblr-7808	46	87	implications	implication	NOUN
cblr-7808	46	88	of	of	ADP
cblr-7808	46	89	managerial	managerial	ADJ
cblr-7808	46	90	overconfidence	overconfidence	NOUN
cblr-7808	46	91	and	and	CCONJ
cblr-7808	46	92	illustrate	illustrate	VERB
cblr-7808	46	93	how	how	SCONJ
cblr-7808	46	94	hedge	hedge	NOUN
cblr-7808	46	95	fund	fund	NOUN
cblr-7808	46	96	activism	activism	NOUN
cblr-7808	46	97	could	could	AUX
cblr-7808	46	98	provide	provide	VERB
cblr-7808	46	99	“	"	PUNCT
cblr-7808	46	100	a	a	DET
cblr-7808	46	101	symbiotic	symbiotic	ADJ
cblr-7808	46	102	counterballast	counterballast	NOUN
cblr-7808	46	103	”	"	PUNCT
cblr-7808	46	104	against	against	ADP
cblr-7808	46	105	it.9	it.9	PROPN
cblr-7808	46	106	barzuza	barzuza	NOUN
cblr-7808	46	107	and	and	CCONJ
cblr-7808	46	108	talley	talley	NOUN
cblr-7808	46	109	’s	’s	PART
cblr-7808	46	110	analysis	analysis	NOUN
cblr-7808	46	111	has	have	VERB
cblr-7808	46	112	important	important	ADJ
cblr-7808	46	113	policy	policy	NOUN
cblr-7808	46	114	implications	implication	NOUN
cblr-7808	46	115	for	for	ADP
cblr-7808	46	116	reform	reform	NOUN
cblr-7808	46	117	proposals	proposal	NOUN
cblr-7808	46	118	.	.	PUNCT
cblr-7808	47	1	in	in	ADP
cblr-7808	47	2	particular	particular	ADJ
cblr-7808	47	3	,	,	PUNCT
cblr-7808	47	4	their	their	PRON
cblr-7808	47	5	analysis	analysis	NOUN
cblr-7808	47	6	provides	provide	VERB
cblr-7808	47	7	an	an	DET
cblr-7808	47	8	additional	additional	ADJ
cblr-7808	47	9	important	important	ADJ
cblr-7808	47	10	justification	justification	NOUN
cblr-7808	47	11	for	for	ADP
cblr-7808	47	12	reducing	reduce	VERB
cblr-7808	47	13	managerial	managerial	ADJ
cblr-7808	47	14	insulation	insulation	NOUN
cblr-7808	47	15	.	.	PUNCT
cblr-7808	48	1	this	this	DET
cblr-7808	48	2	comment	comment	NOUN
cblr-7808	48	3	,	,	PUNCT
cblr-7808	48	4	which	which	PRON
cblr-7808	48	5	is	be	AUX
cblr-7808	48	6	an	an	DET
cblr-7808	48	7	invited	invite	VERB
cblr-7808	48	8	response	response	NOUN
cblr-7808	48	9	to	to	ADP
cblr-7808	48	10	barzuza	barzuza	NOUN
cblr-7808	48	11	and	and	CCONJ
cblr-7808	48	12	talley	talley	NOUN
cblr-7808	48	13	’s	’s	PART
cblr-7808	48	14	article	article	NOUN
cblr-7808	48	15	,	,	PUNCT
cblr-7808	48	16	advances	advance	VERB
cblr-7808	48	17	three	three	NUM
cblr-7808	48	18	claims	claim	NOUN
cblr-7808	48	19	.	.	PUNCT
cblr-7808	49	1	first	first	ADV
cblr-7808	49	2	,	,	PUNCT
cblr-7808	49	3	while	while	SCONJ
cblr-7808	49	4	managers	manager	NOUN
cblr-7808	49	5	(	(	PUNCT
cblr-7808	49	6	like	like	ADP
cblr-7808	49	7	other	other	ADJ
cblr-7808	49	8	human	human	ADJ
cblr-7808	49	9	beings	being	NOUN
cblr-7808	49	10	)	)	PUNCT
cblr-7808	49	11	can	can	AUX
cblr-7808	49	12	be	be	AUX
cblr-7808	49	13	subject	subject	ADJ
cblr-7808	49	14	to	to	ADP
cblr-7808	49	15	systemic	systemic	ADJ
cblr-7808	49	16	long	long	ADJ
cblr-7808	49	17	-	-	PUNCT
cblr-7808	49	18	term	term	NOUN
cblr-7808	49	19	bias	bias	NOUN
cblr-7808	49	20	,	,	PUNCT
cblr-7808	49	21	part	part	PROPN
cblr-7808	49	22	ii	ii	PROPN
cblr-7808	49	23	argues	argue	VERB
cblr-7808	49	24	that	that	SCONJ
cblr-7808	49	25	the	the	DET
cblr-7808	49	26	presence	presence	NOUN
cblr-7808	49	27	of	of	ADP
cblr-7808	49	28	proper	proper	ADJ
cblr-7808	49	29	incentives	incentive	NOUN
cblr-7808	49	30	,	,	PUNCT
cblr-7808	49	31	such	such	ADJ
cblr-7808	49	32	as	as	ADP
cblr-7808	49	33	monetary	monetary	ADJ
cblr-7808	49	34	compensation	compensation	NOUN
cblr-7808	49	35	,	,	PUNCT
cblr-7808	49	36	a	a	DET
cblr-7808	49	37	potential	potential	ADJ
cblr-7808	49	38	decline	decline	NOUN
cblr-7808	49	39	in	in	ADP
cblr-7808	49	40	share	share	NOUN
cblr-7808	49	41	price	price	NOUN
cblr-7808	49	42	and	and	CCONJ
cblr-7808	49	43	the	the	DET
cblr-7808	49	44	threat	threat	NOUN
cblr-7808	49	45	of	of	ADP
cblr-7808	49	46	removal	removal	NOUN
cblr-7808	49	47	from	from	ADP
cblr-7808	49	48	office	office	NOUN
cblr-7808	49	49	,	,	PUNCT
cblr-7808	49	50	is	be	AUX
cblr-7808	49	51	likely	likely	ADJ
cblr-7808	49	52	to	to	PART
cblr-7808	49	53	mitigate	mitigate	VERB
cblr-7808	49	54	this	this	DET
cblr-7808	49	55	bias	bias	NOUN
cblr-7808	49	56	and	and	CCONJ
cblr-7808	49	57	elicit	elicit	VERB
cblr-7808	49	58	more	more	ADV
cblr-7808	49	59	sensitive	sensitive	ADJ
cblr-7808	49	60	judgments	judgment	NOUN
cblr-7808	49	61	.	.	PUNCT
cblr-7808	50	1	managers	manager	NOUN
cblr-7808	50	2	who	who	PRON
cblr-7808	50	3	do	do	AUX
cblr-7808	50	4	not	not	PART
cblr-7808	50	5	respond	respond	VERB
cblr-7808	50	6	to	to	ADP
cblr-7808	50	7	these	these	DET
cblr-7808	50	8	incentives	incentive	NOUN
cblr-7808	50	9	,	,	PUNCT
cblr-7808	50	10	as	as	SCONJ
cblr-7808	50	11	barzuza	barzuza	NOUN
cblr-7808	50	12	and	and	CCONJ
cblr-7808	50	13	talley	talley	PROPN
cblr-7808	50	14	demonstrate	demonstrate	NOUN
cblr-7808	50	15	,	,	PUNCT
cblr-7808	50	16	could	could	AUX
cblr-7808	50	17	also	also	ADV
cblr-7808	50	18	become	become	VERB
cblr-7808	50	19	attractive	attractive	ADJ
cblr-7808	50	20	targets	target	NOUN
cblr-7808	50	21	for	for	ADP
cblr-7808	50	22	activist	activist	ADJ
cblr-7808	50	23	hedge	hedge	NOUN
cblr-7808	50	24	funds	fund	NOUN
cblr-7808	50	25	.	.	PUNCT
cblr-7808	51	1	consider	consider	VERB
cblr-7808	51	2	the	the	DET
cblr-7808	51	3	example	example	NOUN
cblr-7808	51	4	of	of	ADP
cblr-7808	51	5	executive	executive	ADJ
cblr-7808	51	6	compensation	compensation	NOUN
cblr-7808	51	7	.	.	PUNCT
cblr-7808	52	1	the	the	DET
cblr-7808	52	2	traditional	traditional	ADJ
cblr-7808	52	3	economic	economic	ADJ
cblr-7808	52	4	view	view	NOUN
cblr-7808	52	5	posits	posit	NOUN
cblr-7808	52	6	that	that	PRON
cblr-7808	52	7	risk‐averse	risk‐averse	NOUN
cblr-7808	52	8	ceos	ceos	NOUN
cblr-7808	52	9	should	should	AUX
cblr-7808	52	10	exercise	exercise	VERB
cblr-7808	52	11	their	their	PRON
cblr-7808	52	12	options	option	NOUN
cblr-7808	52	13	or	or	CCONJ
cblr-7808	52	14	unload	unload	VERB
cblr-7808	52	15	their	their	PRON
cblr-7808	52	16	shares	share	NOUN
cblr-7808	52	17	when	when	SCONJ
cblr-7808	52	18	they	they	PRON
cblr-7808	52	19	can	can	AUX
cblr-7808	52	20	to	to	ADP
cblr-7808	52	21	6	6	NUM
cblr-7808	52	22	see	see	VERB
cblr-7808	52	23	generally	generally	ADV
cblr-7808	52	24	michal	michal	PROPN
cblr-7808	52	25	barzuza	barzuza	PROPN
cblr-7808	52	26	&	&	CCONJ
cblr-7808	52	27	eric	eric	PROPN
cblr-7808	52	28	talley	talley	PROPN
cblr-7808	52	29	,	,	PUNCT
cblr-7808	52	30	long	long	ADJ
cblr-7808	52	31	-	-	PUNCT
cblr-7808	52	32	term	term	NOUN
cblr-7808	52	33	bias	bias	NOUN
cblr-7808	52	34	,	,	PUNCT
cblr-7808	52	35	2020	2020	NUM
cblr-7808	52	36	colum	colum	NOUN
cblr-7808	52	37	.	.	PUNCT
cblr-7808	53	1	bus	bus	NOUN
cblr-7808	53	2	.	.	PUNCT
cblr-7808	54	1	l.	l.	PROPN
cblr-7808	54	2	rev	rev	PROPN
cblr-7808	54	3	.	.	PROPN
cblr-7808	55	1	104	104	NUM
cblr-7808	55	2	.	.	X
cblr-7808	55	3	7	7	NUM
cblr-7808	55	4	see	see	VERB
cblr-7808	55	5	i	i	PRON
cblr-7808	55	6	d.	d.	PROPN
cblr-7808	55	7	at	at	ADP
cblr-7808	55	8	189	189	NUM
cblr-7808	55	9	.	.	NOUN
cblr-7808	55	10	8	8	NUM
cblr-7808	56	1	i	i	PRON
cblr-7808	56	2	d.	d.	NOUN
cblr-7808	56	3	at	at	ADP
cblr-7808	56	4	174	174	NUM
cblr-7808	56	5	(	(	PUNCT
cblr-7808	56	6	“	"	PUNCT
cblr-7808	56	7	[	[	X
cblr-7808	56	8	t]he	t]he	ADV
cblr-7808	56	9	interaction	interaction	NOUN
cblr-7808	56	10	of	of	ADP
cblr-7808	56	11	longand	longand	PROPN
cblr-7808	56	12	short	short	ADJ
cblr-7808	56	13	-	-	PUNCT
cblr-7808	56	14	term	term	NOUN
cblr-7808	56	15	biases	bias	NOUN
cblr-7808	56	16	probably	probably	ADV
cblr-7808	56	17	does	do	AUX
cblr-7808	56	18	not	not	PART
cblr-7808	56	19	always	always	ADV
cblr-7808	56	20	result	result	VERB
cblr-7808	56	21	in	in	ADP
cblr-7808	56	22	perfectly	perfectly	ADV
cblr-7808	56	23	optimal	optimal	ADJ
cblr-7808	56	24	outcomes	outcome	NOUN
cblr-7808	56	25	,	,	PUNCT
cblr-7808	56	26	but	but	CCONJ
cblr-7808	56	27	by	by	ADP
cblr-7808	56	28	plausibly	plausibly	ADV
cblr-7808	56	29	interacting	interact	VERB
cblr-7808	56	30	in	in	ADP
cblr-7808	56	31	this	this	DET
cblr-7808	56	32	way	way	NOUN
cblr-7808	56	33	,	,	PUNCT
cblr-7808	56	34	short	short	ADJ
cblr-7808	56	35	-	-	PUNCT
cblr-7808	56	36	term	term	NOUN
cblr-7808	56	37	bias	bias	NOUN
cblr-7808	56	38	and	and	CCONJ
cblr-7808	56	39	long	long	ADJ
cblr-7808	56	40	-	-	PUNCT
cblr-7808	56	41	term	term	NOUN
cblr-7808	56	42	bias	bias	NOUN
cblr-7808	56	43	will	will	AUX
cblr-7808	56	44	tend	tend	VERB
cblr-7808	56	45	to	to	PART
cblr-7808	56	46	mitigate	mitigate	VERB
cblr-7808	56	47	one	one	NUM
cblr-7808	56	48	another	another	DET
cblr-7808	56	49	’s	’s	PART
cblr-7808	56	50	greatest	great	ADJ
cblr-7808	56	51	shortcomings	shortcoming	NOUN
cblr-7808	56	52	.	.	PUNCT
cblr-7808	56	53	”	"	PUNCT
cblr-7808	56	54	)	)	PUNCT
cblr-7808	56	55	.	.	PUNCT
cblr-7808	57	1	9	9	NUM
cblr-7808	57	2	see	see	VERB
cblr-7808	57	3	i	i	PROPN
cblr-7808	57	4	d.	d.	PROPN
cblr-7808	57	5	at	at	ADP
cblr-7808	57	6	105	105	NUM
cblr-7808	57	7	,	,	PUNCT
cblr-7808	57	8	113	113	NUM
cblr-7808	57	9	.	.	PUNCT
cblr-7808	58	1	kastiel	kastiel	NOUN
cblr-7808	58	2	(	(	PUNCT
cblr-7808	58	3	comment	comment	NOUN
cblr-7808	58	4	)	)	PUNCT
cblr-7808	58	5	1/15/2021	1/15/2021	NUM
cblr-7808	58	6	2:38	2:38	NUM
cblr-7808	58	7	pm	pm	NOUN
cblr-7808	58	8	838	838	NUM
cblr-7808	58	9	columbia	columbia	PROPN
cblr-7808	58	10	business	business	NOUN
cblr-7808	58	11	law	law	NOUN
cblr-7808	58	12	review	review	NOUN
cblr-7808	58	13	[	[	X
cblr-7808	58	14	vol	vol	NOUN
cblr-7808	58	15	.	.	PUNCT
cblr-7808	58	16	2020	2020	NUM
cblr-7808	58	17	reduce	reduce	VERB
cblr-7808	58	18	exposure	exposure	NOUN
cblr-7808	58	19	to	to	ADP
cblr-7808	58	20	firm	firm	ADJ
cblr-7808	58	21	-	-	PUNCT
cblr-7808	58	22	specific	specific	ADJ
cblr-7808	58	23	risk.10	risk.10	NOUN
cblr-7808	58	24	conversely	conversely	ADV
cblr-7808	58	25	,	,	PUNCT
cblr-7808	58	26	if	if	SCONJ
cblr-7808	58	27	overconfidence	overconfidence	NOUN
cblr-7808	58	28	and	and	CCONJ
cblr-7808	58	29	overoptimism	overoptimism	NOUN
cblr-7808	58	30	motivate	motivate	VERB
cblr-7808	58	31	most	most	ADJ
cblr-7808	58	32	executives	executive	NOUN
cblr-7808	58	33	,	,	PUNCT
cblr-7808	58	34	it	it	PRON
cblr-7808	58	35	should	should	AUX
cblr-7808	58	36	be	be	AUX
cblr-7808	58	37	anticipated	anticipate	VERB
cblr-7808	58	38	that	that	SCONJ
cblr-7808	58	39	most	most	ADJ
cblr-7808	58	40	of	of	ADP
cblr-7808	58	41	them	they	PRON
cblr-7808	58	42	will	will	AUX
cblr-7808	58	43	increase	increase	VERB
cblr-7808	58	44	their	their	PRON
cblr-7808	58	45	equity	equity	NOUN
cblr-7808	58	46	holdings	holding	NOUN
cblr-7808	58	47	or	or	CCONJ
cblr-7808	58	48	hold	hold	VERB
cblr-7808	58	49	on	on	ADP
cblr-7808	58	50	to	to	ADP
cblr-7808	58	51	an	an	DET
cblr-7808	58	52	option	option	NOUN
cblr-7808	58	53	until	until	ADP
cblr-7808	58	54	late	late	ADV
cblr-7808	58	55	in	in	ADP
cblr-7808	58	56	the	the	DET
cblr-7808	58	57	option	option	NOUN
cblr-7808	58	58	’s	’s	PART
cblr-7808	58	59	life	life	NOUN
cblr-7808	58	60	,	,	PUNCT
cblr-7808	58	61	and	and	CCONJ
cblr-7808	58	62	that	that	SCONJ
cblr-7808	58	63	such	such	ADJ
cblr-7808	58	64	behavior	behavior	NOUN
cblr-7808	58	65	will	will	AUX
cblr-7808	58	66	cause	cause	VERB
cblr-7808	58	67	them	they	PRON
cblr-7808	58	68	to	to	PART
cblr-7808	58	69	overinvest	overinvest	VERB
cblr-7808	58	70	in	in	ADP
cblr-7808	58	71	the	the	DET
cblr-7808	58	72	long	long	ADJ
cblr-7808	58	73	-	-	PUNCT
cblr-7808	58	74	term	term	NOUN
cblr-7808	58	75	even	even	ADV
cblr-7808	58	76	without	without	ADP
cblr-7808	58	77	earning	earn	VERB
cblr-7808	58	78	significant	significant	ADJ
cblr-7808	58	79	abnormal	abnormal	ADJ
cblr-7808	58	80	returns.11	returns.11	VERB
cblr-7808	58	81	the	the	DET
cblr-7808	58	82	empirical	empirical	ADJ
cblr-7808	58	83	evidence	evidence	NOUN
cblr-7808	58	84	,	,	PUNCT
cblr-7808	58	85	however	however	ADV
cblr-7808	58	86	,	,	PUNCT
cblr-7808	58	87	shows	show	VERB
cblr-7808	58	88	that	that	SCONJ
cblr-7808	58	89	only	only	ADV
cblr-7808	58	90	a	a	DET
cblr-7808	58	91	minority	minority	NOUN
cblr-7808	58	92	of	of	ADP
cblr-7808	58	93	ceos	ceo	NOUN
cblr-7808	58	94	hold	hold	VERB
cblr-7808	58	95	their	their	PRON
cblr-7808	58	96	options	option	NOUN
cblr-7808	58	97	beyond	beyond	ADP
cblr-7808	58	98	the	the	DET
cblr-7808	58	99	required	require	VERB
cblr-7808	58	100	holding	hold	VERB
cblr-7808	58	101	period.12	period.12	NOUN
cblr-7808	58	102	evidence	evidence	NOUN
cblr-7808	58	103	also	also	ADV
cblr-7808	58	104	shows	show	VERB
cblr-7808	58	105	that	that	SCONJ
cblr-7808	58	106	executives	executive	NOUN
cblr-7808	58	107	often	often	ADV
cblr-7808	58	108	dispose	dispose	VERB
cblr-7808	58	109	of	of	ADP
cblr-7808	58	110	equity	equity	NOUN
cblr-7808	58	111	-	-	PUNCT
cblr-7808	58	112	based	base	VERB
cblr-7808	58	113	pay	pay	NOUN
cblr-7808	58	114	upon	upon	SCONJ
cblr-7808	58	115	vesting,13	vesting,13	NOUN
cblr-7808	58	116	and	and	CCONJ
cblr-7808	58	117	that	that	SCONJ
cblr-7808	58	118	most	most	ADJ
cblr-7808	58	119	ceo	ceo	NOUN
cblr-7808	58	120	stock	stock	NOUN
cblr-7808	58	121	ownership	ownership	NOUN
cblr-7808	58	122	policies	policy	NOUN
cblr-7808	58	123	are	be	AUX
cblr-7808	58	124	ineffectual	ineffectual	ADJ
cblr-7808	58	125	in	in	ADP
cblr-7808	58	126	practice	practice	NOUN
cblr-7808	58	127	,	,	PUNCT
cblr-7808	58	128	as	as	SCONJ
cblr-7808	58	129	ceos	ceo	NOUN
cblr-7808	58	130	tend	tend	VERB
cblr-7808	58	131	to	to	PART
cblr-7808	58	132	sell	sell	VERB
cblr-7808	58	133	their	their	PRON
cblr-7808	58	134	vested	vested	ADJ
cblr-7808	58	135	stock	stock	NOUN
cblr-7808	58	136	rights	right	NOUN
cblr-7808	58	137	when	when	SCONJ
cblr-7808	58	138	they	they	PRON
cblr-7808	58	139	can.14	can.14	VERB
cblr-7808	58	140	this	this	PRON
cblr-7808	58	141	suggests	suggest	VERB
cblr-7808	58	142	that	that	SCONJ
cblr-7808	58	143	ceos	ceo	NOUN
cblr-7808	58	144	,	,	PUNCT
cblr-7808	58	145	on	on	ADP
cblr-7808	58	146	average	average	ADJ
cblr-7808	58	147	,	,	PUNCT
cblr-7808	58	148	respond	respond	VERB
cblr-7808	58	149	to	to	ADP
cblr-7808	58	150	financial	financial	ADJ
cblr-7808	58	151	incentives	incentive	NOUN
cblr-7808	58	152	and	and	CCONJ
cblr-7808	58	153	behave	behave	VERB
cblr-7808	58	154	rationally	rationally	ADV
cblr-7808	58	155	.	.	PUNCT
cblr-7808	59	1	another	another	DET
cblr-7808	59	2	example	example	NOUN
cblr-7808	59	3	involves	involve	VERB
cblr-7808	59	4	stock	stock	NOUN
cblr-7808	59	5	market	market	NOUN
cblr-7808	59	6	reactions	reaction	NOUN
cblr-7808	59	7	to	to	ADP
cblr-7808	59	8	investment	investment	NOUN
cblr-7808	59	9	announcements	announcement	NOUN
cblr-7808	59	10	.	.	PUNCT
cblr-7808	60	1	it	it	PRON
cblr-7808	60	2	can	can	AUX
cblr-7808	60	3	be	be	AUX
cblr-7808	60	4	assumed	assume	VERB
cblr-7808	60	5	that	that	SCONJ
cblr-7808	60	6	managers	manager	NOUN
cblr-7808	60	7	with	with	ADP
cblr-7808	60	8	long	long	ADJ
cblr-7808	60	9	-	-	PUNCT
cblr-7808	60	10	term	term	NOUN
cblr-7808	60	11	biases	bias	NOUN
cblr-7808	60	12	are	be	AUX
cblr-7808	60	13	prone	prone	ADJ
cblr-7808	60	14	to	to	PART
cblr-7808	60	15	ignore	ignore	VERB
cblr-7808	60	16	such	such	ADJ
cblr-7808	60	17	external	external	ADJ
cblr-7808	60	18	signals	signal	NOUN
cblr-7808	60	19	,	,	PUNCT
cblr-7808	60	20	whereas	whereas	SCONJ
cblr-7808	60	21	rational	rational	ADJ
cblr-7808	60	22	managers	manager	NOUN
cblr-7808	60	23	will	will	AUX
cblr-7808	60	24	respond	respond	VERB
cblr-7808	60	25	to	to	ADP
cblr-7808	60	26	market	market	NOUN
cblr-7808	60	27	signals	signal	NOUN
cblr-7808	60	28	in	in	ADP
cblr-7808	60	29	order	order	NOUN
cblr-7808	60	30	to	to	PART
cblr-7808	60	31	avoid	avoid	VERB
cblr-7808	60	32	the	the	DET
cblr-7808	60	33	risk	risk	NOUN
cblr-7808	60	34	of	of	ADP
cblr-7808	60	35	early	early	ADJ
cblr-7808	60	36	termination	termination	NOUN
cblr-7808	60	37	.	.	PUNCT
cblr-7808	61	1	here	here	ADV
cblr-7808	61	2	again	again	ADV
cblr-7808	61	3	,	,	PUNCT
cblr-7808	61	4	empirical	empirical	ADJ
cblr-7808	61	5	evidence	evidence	NOUN
cblr-7808	61	6	shows	show	VERB
cblr-7808	61	7	that	that	SCONJ
cblr-7808	61	8	when	when	SCONJ
cblr-7808	61	9	the	the	DET
cblr-7808	61	10	market	market	NOUN
cblr-7808	61	11	expresses	express	VERB
cblr-7808	61	12	clear	clear	ADJ
cblr-7808	61	13	dissatisfaction	dissatisfaction	NOUN
cblr-7808	61	14	with	with	ADP
cblr-7808	61	15	a	a	DET
cblr-7808	61	16	contemplated	contemplated	ADJ
cblr-7808	61	17	transaction	transaction	NOUN
cblr-7808	61	18	,	,	PUNCT
cblr-7808	61	19	managers	manager	NOUN
cblr-7808	61	20	behave	behave	VERB
cblr-7808	61	21	rationally.15	rationally.15	NOUN
cblr-7808	61	22	10	10	NUM
cblr-7808	61	23	for	for	ADP
cblr-7808	61	24	a	a	DET
cblr-7808	61	25	review	review	NOUN
cblr-7808	61	26	of	of	ADP
cblr-7808	61	27	this	this	DET
cblr-7808	61	28	literature	literature	NOUN
cblr-7808	61	29	,	,	PUNCT
cblr-7808	61	30	see	see	VERB
cblr-7808	61	31	ulrike	ulrike	NOUN
cblr-7808	61	32	malmendier	malmendier	NOUN
cblr-7808	61	33	&	&	CCONJ
cblr-7808	61	34	geoffrey	geoffrey	PROPN
cblr-7808	61	35	tate	tate	PROPN
cblr-7808	61	36	,	,	PUNCT
cblr-7808	61	37	ceo	ceo	NOUN
cblr-7808	61	38	overconfidence	overconfidence	NOUN
cblr-7808	61	39	and	and	CCONJ
cblr-7808	61	40	corporate	corporate	ADJ
cblr-7808	61	41	investment	investment	NOUN
cblr-7808	61	42	,	,	PUNCT
cblr-7808	61	43	60	60	NUM
cblr-7808	61	44	j.	j.	PROPN
cblr-7808	61	45	fin	fin	PROPN
cblr-7808	61	46	.	.	PUNCT
cblr-7808	62	1	2661	2661	NUM
cblr-7808	62	2	,	,	PUNCT
cblr-7808	62	3	2663	2663	NUM
cblr-7808	62	4	(	(	PUNCT
cblr-7808	62	5	2005	2005	NUM
cblr-7808	62	6	)	)	PUNCT
cblr-7808	63	1	[	[	X
cblr-7808	63	2	hereinafter	hereinafter	NOUN
cblr-7808	63	3	malmendier	malmendier	NOUN
cblr-7808	63	4	&	&	CCONJ
cblr-7808	63	5	tate	tate	PROPN
cblr-7808	63	6	,	,	PUNCT
cblr-7808	63	7	corporate	corporate	ADJ
cblr-7808	63	8	investment	investment	NOUN
cblr-7808	63	9	]	]	PUNCT
cblr-7808	63	10	.	.	PUNCT
cblr-7808	64	1	11	11	NUM
cblr-7808	64	2	see	see	VERB
cblr-7808	64	3	i	i	PRON
cblr-7808	64	4	d.	d.	PROPN
cblr-7808	64	5	at	at	ADP
cblr-7808	64	6	2663	2663	NUM
cblr-7808	64	7	,	,	PUNCT
cblr-7808	64	8	2671	2671	NUM
cblr-7808	64	9	.	.	PUNCT
cblr-7808	65	1	12	12	NUM
cblr-7808	65	2	see	see	VERB
cblr-7808	65	3	i	i	PROPN
cblr-7808	65	4	d.	d.	PROPN
cblr-7808	65	5	at	at	ADP
cblr-7808	65	6	2669	2669	NUM
cblr-7808	65	7	tbl.1	tbl.1	PROPN
cblr-7808	65	8	,	,	PUNCT
cblr-7808	65	9	2673	2673	NUM
cblr-7808	65	10	;	;	PUNCT
cblr-7808	65	11	ulrike	ulrike	NOUN
cblr-7808	65	12	malmendier	malmendier	NOUN
cblr-7808	65	13	&	&	CCONJ
cblr-7808	65	14	geoffrey	geoffrey	PROPN
cblr-7808	65	15	tate	tate	PROPN
cblr-7808	65	16	,	,	PUNCT
cblr-7808	65	17	who	who	PRON
cblr-7808	65	18	makes	make	VERB
cblr-7808	65	19	acquisitions	acquisition	NOUN
cblr-7808	65	20	?	?	PUNCT
cblr-7808	66	1	ceo	ceo	NOUN
cblr-7808	66	2	overconfidence	overconfidence	NOUN
cblr-7808	66	3	and	and	CCONJ
cblr-7808	66	4	the	the	DET
cblr-7808	66	5	market	market	NOUN
cblr-7808	66	6	’s	’s	PART
cblr-7808	66	7	reaction	reaction	NOUN
cblr-7808	66	8	,	,	PUNCT
cblr-7808	66	9	89	89	NUM
cblr-7808	66	10	j.	j.	PROPN
cblr-7808	66	11	fin	fin	PROPN
cblr-7808	66	12	.	.	PUNCT
cblr-7808	66	13	econ	econ	PROPN
cblr-7808	66	14	.	.	PROPN
cblr-7808	67	1	20	20	NUM
cblr-7808	67	2	,	,	PUNCT
cblr-7808	67	3	25	25	NUM
cblr-7808	67	4	tbl.1	tbl.1	PROPN
cblr-7808	67	5	(	(	PUNCT
cblr-7808	67	6	2008	2008	NUM
cblr-7808	67	7	)	)	PUNCT
cblr-7808	68	1	[	[	X
cblr-7808	68	2	hereinafter	hereinafter	NOUN
cblr-7808	68	3	malmendier	malmendier	NOUN
cblr-7808	68	4	&	&	CCONJ
cblr-7808	68	5	tate	tate	PROPN
cblr-7808	68	6	,	,	PUNCT
cblr-7808	68	7	market	market	NOUN
cblr-7808	68	8	’s	’s	PART
cblr-7808	68	9	reaction	reaction	NOUN
cblr-7808	68	10	]	]	PUNCT
cblr-7808	68	11	.	.	PUNCT
cblr-7808	69	1	13	13	NUM
cblr-7808	69	2	see	see	VERB
cblr-7808	69	3	alex	alex	PROPN
cblr-7808	69	4	edmans	edmans	PROPN
cblr-7808	69	5	,	,	PUNCT
cblr-7808	69	6	vivian	vivian	PROPN
cblr-7808	69	7	w.	w.	PROPN
cblr-7808	69	8	fang	fang	PROPN
cblr-7808	69	9	&	&	CCONJ
cblr-7808	69	10	katharina	katharina	PROPN
cblr-7808	69	11	a.	a.	PROPN
cblr-7808	69	12	lewellen	lewellen	PROPN
cblr-7808	69	13	,	,	PUNCT
cblr-7808	69	14	equity	equity	NOUN
cblr-7808	69	15	vesting	vesting	NOUN
cblr-7808	69	16	and	and	CCONJ
cblr-7808	69	17	investment	investment	NOUN
cblr-7808	69	18	,	,	PUNCT
cblr-7808	69	19	30	30	NUM
cblr-7808	69	20	rev	rev	X
cblr-7808	69	21	.	.	PROPN
cblr-7808	69	22	fin	fin	NOUN
cblr-7808	69	23	.	.	PUNCT
cblr-7808	69	24	stud	stud	PROPN
cblr-7808	69	25	.	.	PUNCT
cblr-7808	70	1	2229	2229	NUM
cblr-7808	70	2	,	,	PUNCT
cblr-7808	70	3	2230	2230	NUM
cblr-7808	70	4	(	(	PUNCT
cblr-7808	70	5	2017	2017	NUM
cblr-7808	70	6	)	)	PUNCT
cblr-7808	70	7	.	.	PUNCT
cblr-7808	71	1	14	14	NUM
cblr-7808	71	2	nitzan	nitzan	PROPN
cblr-7808	71	3	shilon	shilon	NOUN
cblr-7808	71	4	,	,	PUNCT
cblr-7808	71	5	ceo	ceo	NOUN
cblr-7808	71	6	stock	stock	NOUN
cblr-7808	71	7	ownership	ownership	NOUN
cblr-7808	71	8	policies	policy	NOUN
cblr-7808	71	9	—	—	PUNCT
cblr-7808	71	10	rhetoric	rhetoric	NOUN
cblr-7808	71	11	and	and	CCONJ
cblr-7808	71	12	reality	reality	NOUN
cblr-7808	71	13	,	,	PUNCT
cblr-7808	71	14	90	90	NUM
cblr-7808	71	15	ind	ind	NOUN
cblr-7808	71	16	.	.	PUNCT
cblr-7808	72	1	l.j	l.j	PROPN
cblr-7808	72	2	.	.	PROPN
cblr-7808	72	3	353	353	NUM
cblr-7808	72	4	,	,	PUNCT
cblr-7808	72	5	369–71	369–71	NUM
cblr-7808	72	6	,	,	PUNCT
cblr-7808	72	7	394–95	394–95	NUM
cblr-7808	72	8	(	(	PUNCT
cblr-7808	72	9	2015	2015	NUM
cblr-7808	72	10	)	)	PUNCT
cblr-7808	72	11	.	.	PUNCT
cblr-7808	73	1	15	15	NUM
cblr-7808	73	2	see	see	VERB
cblr-7808	73	3	james	james	PROPN
cblr-7808	73	4	b.	b.	PROPN
cblr-7808	73	5	kau	kau	PROPN
cblr-7808	73	6	,	,	PUNCT
cblr-7808	73	7	james	james	PROPN
cblr-7808	73	8	s.	s.	PROPN
cblr-7808	73	9	linck	linck	PROPN
cblr-7808	73	10	&	&	CCONJ
cblr-7808	73	11	paul	paul	PROPN
cblr-7808	73	12	h.	h.	PROPN
cblr-7808	73	13	rubin	rubin	PROPN
cblr-7808	73	14	,	,	PUNCT
cblr-7808	73	15	do	do	AUX
cblr-7808	73	16	managers	manager	NOUN
cblr-7808	73	17	listen	listen	VERB
cblr-7808	73	18	to	to	ADP
cblr-7808	73	19	the	the	DET
cblr-7808	73	20	market	market	NOUN
cblr-7808	73	21	?	?	PUNCT
cblr-7808	73	22	,	,	PUNCT
cblr-7808	73	23	14	14	NUM
cblr-7808	73	24	j.	j.	PROPN
cblr-7808	73	25	corp	corp	PROPN
cblr-7808	73	26	.	.	PROPN
cblr-7808	73	27	fin	fin	PROPN
cblr-7808	73	28	.	.	PUNCT
cblr-7808	74	1	347	347	NUM
cblr-7808	74	2	,	,	PUNCT
cblr-7808	74	3	348	348	NUM
cblr-7808	74	4	,	,	PUNCT
cblr-7808	74	5	361	361	NUM
cblr-7808	74	6	(	(	PUNCT
cblr-7808	74	7	2008	2008	NUM
cblr-7808	74	8	)	)	PUNCT
cblr-7808	74	9	;	;	PUNCT
cblr-7808	74	10	yuanzhi	yuanzhi	PROPN
cblr-7808	74	11	luo	luo	PROPN
cblr-7808	74	12	,	,	PUNCT
cblr-7808	74	13	do	do	AUX
cblr-7808	74	14	insiders	insider	NOUN
cblr-7808	74	15	learn	learn	VERB
cblr-7808	74	16	from	from	ADP
cblr-7808	74	17	outsiders	outsider	NOUN
cblr-7808	74	18	?	?	PUNCT
cblr-7808	75	1	evidence	evidence	NOUN
cblr-7808	75	2	from	from	ADP
cblr-7808	75	3	mergers	merger	NOUN
cblr-7808	75	4	and	and	CCONJ
cblr-7808	75	5	acquisitions	acquisition	NOUN
cblr-7808	75	6	,	,	PUNCT
cblr-7808	75	7	60	60	NUM
cblr-7808	75	8	j.	j.	PROPN
cblr-7808	75	9	fin	fin	PROPN
cblr-7808	75	10	.	.	PUNCT
cblr-7808	76	1	1951	1951	NUM
cblr-7808	76	2	,	,	PUNCT
cblr-7808	76	3	1951–54	1951–54	NUM
cblr-7808	76	4	(	(	PUNCT
cblr-7808	76	5	2005	2005	NUM
cblr-7808	76	6	)	)	PUNCT
cblr-7808	76	7	;	;	PUNCT
cblr-7808	76	8	baixiao	baixiao	PROPN
cblr-7808	76	9	liu	liu	PROPN
cblr-7808	76	10	&	&	CCONJ
cblr-7808	76	11	john	john	PROPN
cblr-7808	76	12	j.	j.	PROPN
cblr-7808	76	13	mcconnell	mcconnell	PROPN
cblr-7808	76	14	,	,	PUNCT
cblr-7808	76	15	the	the	DET
cblr-7808	76	16	role	role	NOUN
cblr-7808	76	17	of	of	ADP
cblr-7808	76	18	the	the	DET
cblr-7808	76	19	media	medium	NOUN
cblr-7808	76	20	in	in	ADP
cblr-7808	76	21	corporate	corporate	ADJ
cblr-7808	76	22	governance	governance	NOUN
cblr-7808	76	23	:	:	PUNCT
cblr-7808	76	24	do	do	VERB
cblr-7808	76	25	the	the	DET
cblr-7808	76	26	media	medium	NOUN
cblr-7808	76	27	influence	influence	NOUN
cblr-7808	76	28	managers	manager	NOUN
cblr-7808	76	29	’	’	PART
cblr-7808	76	30	capital	capital	NOUN
cblr-7808	76	31	allocation	allocation	NOUN
cblr-7808	76	32	decisions	decision	NOUN
cblr-7808	76	33	?	?	PUNCT
cblr-7808	76	34	,	,	PUNCT
cblr-7808	76	35	110	110	NUM
cblr-7808	76	36	j.	j.	PROPN
cblr-7808	76	37	fin	fin	PROPN
cblr-7808	76	38	.	.	PUNCT
cblr-7808	76	39	econ	econ	PROPN
cblr-7808	76	40	.	.	PUNCT
cblr-7808	77	1	1	1	NUM
cblr-7808	77	2	,	,	PUNCT
cblr-7808	77	3	2	2	NUM
cblr-7808	77	4	(	(	PUNCT
cblr-7808	77	5	2013	2013	NUM
cblr-7808	77	6	)	)	PUNCT
cblr-7808	77	7	.	.	PUNCT
cblr-7808	78	1	kastiel	kastiel	PROPN
cblr-7808	78	2	(	(	PUNCT
cblr-7808	78	3	comment	comment	NOUN
cblr-7808	78	4	)	)	PUNCT
cblr-7808	78	5	1/15/2021	1/15/2021	NUM
cblr-7808	78	6	2:38	2:38	NUM
cblr-7808	78	7	pm	pm	NOUN
cblr-7808	78	8	no	no	INTJ
cblr-7808	78	9	.	.	PUNCT
cblr-7808	79	1	3:834	3:834	NUM
cblr-7808	79	2	]	]	X
cblr-7808	79	3	long	long	ADJ
cblr-7808	79	4	-	-	PUNCT
cblr-7808	79	5	term	term	NOUN
cblr-7808	79	6	bias	bias	NOUN
cblr-7808	79	7	,	,	PUNCT
cblr-7808	79	8	incentives	incentive	NOUN
cblr-7808	79	9	,	,	PUNCT
cblr-7808	79	10	and	and	CCONJ
cblr-7808	79	11	agency	agency	NOUN
cblr-7808	79	12	costs	cost	VERB
cblr-7808	79	13	839	839	NUM
cblr-7808	79	14	similarly	similarly	ADV
cblr-7808	79	15	,	,	PUNCT
cblr-7808	79	16	if	if	SCONJ
cblr-7808	79	17	a	a	DET
cblr-7808	79	18	ceo	ceo	NOUN
cblr-7808	79	19	with	with	ADP
cblr-7808	79	20	a	a	DET
cblr-7808	79	21	long	long	ADJ
cblr-7808	79	22	-	-	PUNCT
cblr-7808	79	23	term	term	NOUN
cblr-7808	79	24	bias	bias	NOUN
cblr-7808	79	25	consistently	consistently	ADV
cblr-7808	79	26	pursues	pursue	VERB
cblr-7808	79	27	long	long	ADJ
cblr-7808	79	28	-	-	PUNCT
cblr-7808	79	29	term	term	NOUN
cblr-7808	79	30	strategies	strategy	NOUN
cblr-7808	79	31	that	that	PRON
cblr-7808	79	32	harm	harm	VERB
cblr-7808	79	33	shareholders	shareholder	NOUN
cblr-7808	79	34	,	,	PUNCT
cblr-7808	79	35	such	such	ADJ
cblr-7808	79	36	bias	bias	NOUN
cblr-7808	79	37	should	should	AUX
cblr-7808	79	38	increase	increase	VERB
cblr-7808	79	39	their	their	PRON
cblr-7808	79	40	likelihood	likelihood	NOUN
cblr-7808	79	41	of	of	ADP
cblr-7808	79	42	being	be	AUX
cblr-7808	79	43	replaced	replace	VERB
cblr-7808	79	44	.	.	PUNCT
cblr-7808	80	1	the	the	DET
cblr-7808	80	2	recent	recent	ADJ
cblr-7808	80	3	decline	decline	NOUN
cblr-7808	80	4	in	in	ADP
cblr-7808	80	5	average	average	ADJ
cblr-7808	80	6	ceo	ceo	NOUN
cblr-7808	80	7	tenure,16	tenure,16	NOUN
cblr-7808	80	8	combined	combine	VERB
cblr-7808	80	9	with	with	ADP
cblr-7808	80	10	the	the	DET
cblr-7808	80	11	increase	increase	NOUN
cblr-7808	80	12	in	in	ADP
cblr-7808	80	13	investor	investor	NOUN
cblr-7808	80	14	engagement	engagement	NOUN
cblr-7808	80	15	,	,	PUNCT
cblr-7808	80	16	suggests	suggest	VERB
cblr-7808	80	17	that	that	SCONJ
cblr-7808	80	18	this	this	DET
cblr-7808	80	19	risk	risk	NOUN
cblr-7808	80	20	of	of	ADP
cblr-7808	80	21	early	early	ADJ
cblr-7808	80	22	termination	termination	NOUN
cblr-7808	80	23	is	be	AUX
cblr-7808	80	24	real.17	real.17	NOUN
cblr-7808	80	25	under	under	ADP
cblr-7808	80	26	these	these	DET
cblr-7808	80	27	circumstances	circumstance	NOUN
cblr-7808	80	28	,	,	PUNCT
cblr-7808	80	29	managers	manager	NOUN
cblr-7808	80	30	have	have	AUX
cblr-7808	80	31	limited	limit	VERB
cblr-7808	80	32	incentives	incentive	NOUN
cblr-7808	80	33	to	to	PART
cblr-7808	80	34	invest	invest	VERB
cblr-7808	80	35	in	in	ADP
cblr-7808	80	36	long	long	ADJ
cblr-7808	80	37	-	-	PUNCT
cblr-7808	80	38	term	term	NOUN
cblr-7808	80	39	projects	project	NOUN
cblr-7808	80	40	with	with	ADP
cblr-7808	80	41	uncertain	uncertain	ADJ
cblr-7808	80	42	benefits	benefit	NOUN
cblr-7808	80	43	which	which	PRON
cblr-7808	80	44	would	would	AUX
cblr-7808	80	45	accrue	accrue	VERB
cblr-7808	80	46	only	only	ADV
cblr-7808	80	47	well	well	ADV
cblr-7808	80	48	after	after	ADP
cblr-7808	80	49	the	the	DET
cblr-7808	80	50	anticipated	anticipate	VERB
cblr-7808	80	51	lengths	length	NOUN
cblr-7808	80	52	of	of	ADP
cblr-7808	80	53	their	their	PRON
cblr-7808	80	54	terms.18	terms.18	NOUN
cblr-7808	80	55	it	it	PRON
cblr-7808	80	56	should	should	AUX
cblr-7808	80	57	be	be	AUX
cblr-7808	80	58	clarified	clarify	VERB
cblr-7808	80	59	that	that	SCONJ
cblr-7808	80	60	the	the	DET
cblr-7808	80	61	analysis	analysis	NOUN
cblr-7808	80	62	i	i	PRON
cblr-7808	80	63	present	present	VERB
cblr-7808	80	64	in	in	ADP
cblr-7808	80	65	part	part	NOUN
cblr-7808	80	66	ii	ii	PROPN
cblr-7808	80	67	does	do	AUX
cblr-7808	80	68	not	not	PART
cblr-7808	80	69	deny	deny	VERB
cblr-7808	80	70	that	that	SCONJ
cblr-7808	80	71	some	some	DET
cblr-7808	80	72	managers	manager	NOUN
cblr-7808	80	73	will	will	AUX
cblr-7808	80	74	suffer	suffer	VERB
cblr-7808	80	75	from	from	ADP
cblr-7808	80	76	long	long	ADJ
cblr-7808	80	77	-	-	PUNCT
cblr-7808	80	78	term	term	NOUN
cblr-7808	80	79	bias	bias	NOUN
cblr-7808	80	80	.	.	PUNCT
cblr-7808	81	1	despite	despite	SCONJ
cblr-7808	81	2	the	the	DET
cblr-7808	81	3	mitigating	mitigating	NOUN
cblr-7808	81	4	impact	impact	NOUN
cblr-7808	81	5	of	of	ADP
cblr-7808	81	6	incentives	incentive	NOUN
cblr-7808	81	7	,	,	PUNCT
cblr-7808	81	8	some	some	DET
cblr-7808	81	9	managers	manager	NOUN
cblr-7808	81	10	could	could	AUX
cblr-7808	81	11	still	still	ADV
cblr-7808	81	12	exhibit	exhibit	VERB
cblr-7808	81	13	a	a	DET
cblr-7808	81	14	bias	bias	NOUN
cblr-7808	81	15	toward	toward	ADP
cblr-7808	81	16	inferior	inferior	ADJ
cblr-7808	81	17	long	long	ADJ
cblr-7808	81	18	-	-	PUNCT
cblr-7808	81	19	term	term	NOUN
cblr-7808	81	20	projects	project	NOUN
cblr-7808	81	21	and	and	CCONJ
cblr-7808	81	22	bear	bear	VERB
cblr-7808	81	23	personal	personal	ADJ
cblr-7808	81	24	losses	loss	NOUN
cblr-7808	81	25	.	.	PUNCT
cblr-7808	82	1	nonetheless	nonetheless	ADV
cblr-7808	82	2	,	,	PUNCT
cblr-7808	82	3	when	when	SCONJ
cblr-7808	82	4	motivating	motivating	NOUN
cblr-7808	82	5	incentives	incentive	VERB
cblr-7808	82	6	such	such	ADJ
cblr-7808	82	7	as	as	ADP
cblr-7808	82	8	those	those	PRON
cblr-7808	82	9	discussed	discuss	VERB
cblr-7808	82	10	in	in	ADP
cblr-7808	82	11	part	part	NOUN
cblr-7808	82	12	ii	ii	PROPN
cblr-7808	82	13	are	be	AUX
cblr-7808	82	14	present	present	ADJ
cblr-7808	82	15	,	,	PUNCT
cblr-7808	82	16	managers	manager	NOUN
cblr-7808	82	17	are	be	AUX
cblr-7808	82	18	less	less	ADV
cblr-7808	82	19	likely	likely	ADJ
cblr-7808	82	20	on	on	ADP
cblr-7808	82	21	average	average	ADJ
cblr-7808	82	22	to	to	PART
cblr-7808	82	23	exhibit	exhibit	VERB
cblr-7808	82	24	a	a	DET
cblr-7808	82	25	persistent	persistent	ADJ
cblr-7808	82	26	long	long	ADJ
cblr-7808	82	27	-	-	PUNCT
cblr-7808	82	28	term	term	NOUN
cblr-7808	82	29	bias	bias	NOUN
cblr-7808	82	30	.	.	PUNCT
cblr-7808	83	1	second	second	ADJ
cblr-7808	83	2	,	,	PUNCT
cblr-7808	83	3	part	part	NOUN
cblr-7808	83	4	iii	iii	NUM
cblr-7808	83	5	questions	question	NOUN
cblr-7808	83	6	the	the	DET
cblr-7808	83	7	distinction	distinction	NOUN
cblr-7808	83	8	between	between	ADP
cblr-7808	83	9	longterm	longterm	ADJ
cblr-7808	83	10	bias	bias	NOUN
cblr-7808	83	11	and	and	CCONJ
cblr-7808	83	12	traditional	traditional	ADJ
cblr-7808	83	13	agency	agency	NOUN
cblr-7808	83	14	theories	theory	NOUN
cblr-7808	83	15	of	of	ADP
cblr-7808	83	16	empire	empire	NOUN
cblr-7808	83	17	building	building	NOUN
cblr-7808	83	18	.	.	PUNCT
cblr-7808	84	1	the	the	DET
cblr-7808	84	2	behavioral	behavioral	ADJ
cblr-7808	84	3	economics	economic	NOUN
cblr-7808	84	4	literature	literature	PROPN
cblr-7808	84	5	tries	try	VERB
cblr-7808	84	6	to	to	PART
cblr-7808	84	7	distinguish	distinguish	VERB
cblr-7808	84	8	longterm	longterm	NOUN
cblr-7808	84	9	bias	bias	NOUN
cblr-7808	84	10	because	because	SCONJ
cblr-7808	84	11	the	the	DET
cblr-7808	84	12	agency	agency	NOUN
cblr-7808	84	13	theories	theory	NOUN
cblr-7808	84	14	involve	involve	VERB
cblr-7808	84	15	a	a	DET
cblr-7808	84	16	decisionmaker	decisionmaker	NOUN
cblr-7808	84	17	’s	’s	PART
cblr-7808	84	18	intentional	intentional	ADJ
cblr-7808	84	19	behavior.19	behavior.19	NOUN
cblr-7808	84	20	but	but	CCONJ
cblr-7808	84	21	from	from	ADP
cblr-7808	84	22	the	the	DET
cblr-7808	84	23	16	16	NUM
cblr-7808	84	24	dan	dan	PROPN
cblr-7808	84	25	marcec	marcec	PROPN
cblr-7808	84	26	,	,	PUNCT
cblr-7808	84	27	ceo	ceo	NOUN
cblr-7808	84	28	tenure	tenure	NOUN
cblr-7808	84	29	rates	rate	NOUN
cblr-7808	84	30	,	,	PUNCT
cblr-7808	84	31	harv	harv	PROPN
cblr-7808	84	32	.	.	PUNCT
cblr-7808	85	1	l.	l.	PROPN
cblr-7808	85	2	sch	sch	PROPN
cblr-7808	85	3	.	.	PUNCT
cblr-7808	86	1	f.	f.	PROPN
cblr-7808	86	2	on	on	ADP
cblr-7808	86	3	corp	corp	PROPN
cblr-7808	86	4	.	.	PROPN
cblr-7808	86	5	governance	governance	PROPN
cblr-7808	86	6	(	(	PUNCT
cblr-7808	86	7	feb	feb	PROPN
cblr-7808	86	8	.	.	PROPN
cblr-7808	86	9	12	12	NUM
cblr-7808	86	10	,	,	PUNCT
cblr-7808	86	11	2018	2018	NUM
cblr-7808	86	12	)	)	PUNCT
cblr-7808	86	13	,	,	PUNCT
cblr-7808	86	14	https://corpgov.law.harvard.edu/2018/02/12/ceo-tenure-rates/	https://corpgov.law.harvard.edu/2018/02/12/ceo-tenure-rates/	PUNCT
cblr-7808	87	1	[	[	X
cblr-7808	87	2	https://perma.cc/2af5-fm94	https://perma.cc/2af5-fm94	X
cblr-7808	87	3	]	]	PUNCT
cblr-7808	87	4	.	.	PUNCT
cblr-7808	88	1	17	17	NUM
cblr-7808	88	2	see	see	VERB
cblr-7808	88	3	reena	reena	PROPN
cblr-7808	88	4	aggarwal	aggarwal	PROPN
cblr-7808	88	5	,	,	PUNCT
cblr-7808	88	6	sandeep	sandeep	PROPN
cblr-7808	88	7	dahiya	dahiya	PROPN
cblr-7808	88	8	&	&	CCONJ
cblr-7808	88	9	nagpurnanand	nagpurnanand	PROPN
cblr-7808	88	10	r.	r.	PROPN
cblr-7808	88	11	prabhala	prabhala	PROPN
cblr-7808	88	12	,	,	PUNCT
cblr-7808	88	13	the	the	DET
cblr-7808	88	14	power	power	NOUN
cblr-7808	88	15	of	of	ADP
cblr-7808	88	16	shareholder	shareholder	NOUN
cblr-7808	88	17	votes	vote	NOUN
cblr-7808	88	18	:	:	PUNCT
cblr-7808	88	19	evidence	evidence	NOUN
cblr-7808	88	20	from	from	ADP
cblr-7808	88	21	uncontested	uncontested	ADJ
cblr-7808	88	22	director	director	NOUN
cblr-7808	88	23	elections	election	NOUN
cblr-7808	88	24	,	,	PUNCT
cblr-7808	88	25	133	133	NUM
cblr-7808	88	26	j.	j.	PROPN
cblr-7808	88	27	fin	fin	PROPN
cblr-7808	88	28	.	.	PUNCT
cblr-7808	88	29	econ	econ	PROPN
cblr-7808	88	30	.	.	PUNCT
cblr-7808	89	1	134	134	NUM
cblr-7808	89	2	,	,	PUNCT
cblr-7808	89	3	134–36	134–36	NUM
cblr-7808	89	4	(	(	PUNCT
cblr-7808	89	5	2019	2019	NUM
cblr-7808	89	6	)	)	PUNCT
cblr-7808	89	7	;	;	PUNCT
cblr-7808	90	1	michal	michal	PROPN
cblr-7808	90	2	barzuza	barzuza	PROPN
cblr-7808	90	3	,	,	PUNCT
cblr-7808	90	4	quinn	quinn	PROPN
cblr-7808	90	5	curtis	curtis	PROPN
cblr-7808	90	6	&	&	CCONJ
cblr-7808	90	7	david	david	PROPN
cblr-7808	90	8	h.	h.	PROPN
cblr-7808	90	9	webber	webber	PROPN
cblr-7808	90	10	,	,	PUNCT
cblr-7808	90	11	shareholder	shareholder	NOUN
cblr-7808	90	12	value(s	value(s	NOUN
cblr-7808	90	13	):	):	PUNCT
cblr-7808	90	14	index	index	NOUN
cblr-7808	90	15	fund	fund	NOUN
cblr-7808	90	16	esg	esg	PROPN
cblr-7808	90	17	activism	activism	NOUN
cblr-7808	90	18	and	and	CCONJ
cblr-7808	90	19	the	the	DET
cblr-7808	90	20	new	new	ADJ
cblr-7808	90	21	millennial	millennial	ADJ
cblr-7808	90	22	corporate	corporate	ADJ
cblr-7808	90	23	governance	governance	NOUN
cblr-7808	90	24	,	,	PUNCT
cblr-7808	90	25	93	93	NUM
cblr-7808	90	26	s.	s.	PROPN
cblr-7808	90	27	cal	cal	PROPN
cblr-7808	90	28	.	.	PUNCT
cblr-7808	91	1	l.	l.	PROPN
cblr-7808	91	2	rev	rev	PROPN
cblr-7808	91	3	.	.	PUNCT
cblr-7808	92	1	(	(	PUNCT
cblr-7808	92	2	forthcoming	forthcoming	ADJ
cblr-7808	92	3	2020	2020	NUM
cblr-7808	92	4	)	)	PUNCT
cblr-7808	92	5	(	(	PUNCT
cblr-7808	92	6	manuscript	manuscript	NOUN
cblr-7808	92	7	at	at	ADP
cblr-7808	92	8	124–25	124–25	NUM
cblr-7808	92	9	)	)	PUNCT
cblr-7808	92	10	(	(	PUNCT
cblr-7808	92	11	describing	describe	VERB
cblr-7808	92	12	how	how	SCONJ
cblr-7808	92	13	index	index	NOUN
cblr-7808	92	14	funds	fund	NOUN
cblr-7808	92	15	exert	exert	VERB
cblr-7808	92	16	pressure	pressure	NOUN
cblr-7808	92	17	on	on	ADP
cblr-7808	92	18	boards	board	NOUN
cblr-7808	92	19	by	by	ADP
cblr-7808	92	20	backing	back	VERB
cblr-7808	92	21	their	their	PRON
cblr-7808	92	22	advocacy	advocacy	NOUN
cblr-7808	92	23	with	with	ADP
cblr-7808	92	24	votes	vote	NOUN
cblr-7808	92	25	)	)	PUNCT
cblr-7808	92	26	.	.	PUNCT
cblr-7808	93	1	18	18	NUM
cblr-7808	93	2	this	this	DET
cblr-7808	93	3	analysis	analysis	NOUN
cblr-7808	93	4	is	be	AUX
cblr-7808	93	5	limited	limit	VERB
cblr-7808	93	6	to	to	ADP
cblr-7808	93	7	companies	company	NOUN
cblr-7808	93	8	without	without	ADP
cblr-7808	93	9	a	a	DET
cblr-7808	93	10	controlling	control	VERB
cblr-7808	93	11	shareholder	shareholder	NOUN
cblr-7808	93	12	.	.	PUNCT
cblr-7808	94	1	when	when	SCONJ
cblr-7808	94	2	companies	company	NOUN
cblr-7808	94	3	have	have	AUX
cblr-7808	94	4	controlling	control	VERB
cblr-7808	94	5	shareholders	shareholder	NOUN
cblr-7808	94	6	,	,	PUNCT
cblr-7808	94	7	a	a	DET
cblr-7808	94	8	shareholder	shareholder	NOUN
cblr-7808	94	9	vote	vote	NOUN
cblr-7808	94	10	is	be	AUX
cblr-7808	94	11	meaningless	meaningless	ADJ
cblr-7808	94	12	,	,	PUNCT
cblr-7808	94	13	and	and	CCONJ
cblr-7808	94	14	the	the	DET
cblr-7808	94	15	likelihood	likelihood	NOUN
cblr-7808	94	16	of	of	ADP
cblr-7808	94	17	activist	activist	ADJ
cblr-7808	94	18	intervention	intervention	NOUN
cblr-7808	94	19	is	be	AUX
cblr-7808	94	20	substantially	substantially	ADV
cblr-7808	94	21	lower	low	ADJ
cblr-7808	94	22	than	than	ADP
cblr-7808	94	23	in	in	ADP
cblr-7808	94	24	the	the	DET
cblr-7808	94	25	case	case	NOUN
cblr-7808	94	26	of	of	ADP
cblr-7808	94	27	widely	widely	ADV
cblr-7808	94	28	-	-	PUNCT
cblr-7808	94	29	held	hold	VERB
cblr-7808	94	30	companies	company	NOUN
cblr-7808	94	31	.	.	PUNCT
cblr-7808	95	1	see	see	VERB
cblr-7808	95	2	kobi	kobi	PROPN
cblr-7808	95	3	kastiel	kastiel	PROPN
cblr-7808	95	4	,	,	PUNCT
cblr-7808	95	5	against	against	ADP
cblr-7808	95	6	all	all	DET
cblr-7808	95	7	odds	odd	NOUN
cblr-7808	95	8	:	:	PUNCT
cblr-7808	95	9	hedge	hedge	NOUN
cblr-7808	95	10	fund	fund	NOUN
cblr-7808	95	11	activism	activism	NOUN
cblr-7808	95	12	in	in	ADP
cblr-7808	95	13	controlled	control	VERB
cblr-7808	95	14	companies	company	NOUN
cblr-7808	95	15	,	,	PUNCT
cblr-7808	95	16	2016	2016	NUM
cblr-7808	95	17	colum	colum	NOUN
cblr-7808	95	18	.	.	PUNCT
cblr-7808	96	1	bus	bus	NOUN
cblr-7808	96	2	.	.	PUNCT
cblr-7808	97	1	l.	l.	PROPN
cblr-7808	97	2	rev	rev	PROPN
cblr-7808	97	3	.	.	PROPN
cblr-7808	97	4	60	60	NUM
cblr-7808	97	5	,	,	PUNCT
cblr-7808	97	6	70–74	70–74	NUM
cblr-7808	97	7	.	.	NOUN
cblr-7808	98	1	19	19	NUM
cblr-7808	98	2	see	see	VERB
cblr-7808	98	3	barzuza	barzuza	NOUN
cblr-7808	98	4	&	&	CCONJ
cblr-7808	98	5	talley	talley	PROPN
cblr-7808	98	6	,	,	PUNCT
cblr-7808	98	7	supra	supra	PROPN
cblr-7808	98	8	note	note	NOUN
cblr-7808	98	9	6	6	NUM
cblr-7808	98	10	,	,	PUNCT
cblr-7808	98	11	at	at	ADP
cblr-7808	98	12	177	177	NUM
cblr-7808	98	13	(	(	PUNCT
cblr-7808	98	14	implicitly	implicitly	ADV
cblr-7808	98	15	suggesting	suggest	VERB
cblr-7808	98	16	this	this	DET
cblr-7808	98	17	distinction	distinction	NOUN
cblr-7808	98	18	)	)	PUNCT
cblr-7808	98	19	.	.	PUNCT
cblr-7808	99	1	kastiel	kastiel	PROPN
cblr-7808	99	2	(	(	PUNCT
cblr-7808	99	3	comment	comment	NOUN
cblr-7808	99	4	)	)	PUNCT
cblr-7808	99	5	1/15/2021	1/15/2021	NUM
cblr-7808	99	6	2:38	2:38	NUM
cblr-7808	99	7	pm	pm	NOUN
cblr-7808	99	8	840	840	NUM
cblr-7808	99	9	columbia	columbia	PROPN
cblr-7808	99	10	business	business	NOUN
cblr-7808	99	11	law	law	PROPN
cblr-7808	99	12	review	review	NOUN
cblr-7808	99	13	[	[	X
cblr-7808	99	14	vol	vol	NOUN
cblr-7808	99	15	.	.	PUNCT
cblr-7808	99	16	2020	2020	NUM
cblr-7808	99	17	perspective	perspective	NOUN
cblr-7808	99	18	of	of	ADP
cblr-7808	99	19	public	public	ADJ
cblr-7808	99	20	shareholders	shareholder	NOUN
cblr-7808	99	21	,	,	PUNCT
cblr-7808	99	22	should	should	AUX
cblr-7808	99	23	the	the	DET
cblr-7808	99	24	lack	lack	NOUN
cblr-7808	99	25	of	of	ADP
cblr-7808	99	26	intention	intention	NOUN
cblr-7808	99	27	make	make	VERB
cblr-7808	99	28	a	a	DET
cblr-7808	99	29	difference	difference	NOUN
cblr-7808	99	30	?	?	PUNCT
cblr-7808	100	1	ultimately	ultimately	ADV
cblr-7808	100	2	,	,	PUNCT
cblr-7808	100	3	both	both	DET
cblr-7808	100	4	types	type	NOUN
cblr-7808	100	5	of	of	ADP
cblr-7808	100	6	behaviors	behavior	NOUN
cblr-7808	100	7	systematically	systematically	ADV
cblr-7808	100	8	harm	harm	VERB
cblr-7808	100	9	shareholders	shareholder	NOUN
cblr-7808	100	10	,	,	PUNCT
cblr-7808	100	11	and	and	CCONJ
cblr-7808	100	12	in	in	ADP
cblr-7808	100	13	both	both	DET
cblr-7808	100	14	cases	case	NOUN
cblr-7808	100	15	corporate	corporate	ADJ
cblr-7808	100	16	leaders	leader	NOUN
cblr-7808	100	17	choose	choose	VERB
cblr-7808	100	18	to	to	PART
cblr-7808	100	19	ignore	ignore	VERB
cblr-7808	100	20	shareholder	shareholder	NOUN
cblr-7808	100	21	interests	interest	NOUN
cblr-7808	100	22	and	and	CCONJ
cblr-7808	100	23	waste	waste	VERB
cblr-7808	100	24	free	free	ADJ
cblr-7808	100	25	cash	cash	NOUN
cblr-7808	100	26	flow	flow	NOUN
cblr-7808	100	27	on	on	ADP
cblr-7808	100	28	inferior	inferior	ADJ
cblr-7808	100	29	business	business	NOUN
cblr-7808	100	30	investments	investment	NOUN
cblr-7808	100	31	that	that	PRON
cblr-7808	100	32	provide	provide	VERB
cblr-7808	100	33	them	they	PRON
cblr-7808	100	34	with	with	ADP
cblr-7808	100	35	private	private	ADJ
cblr-7808	100	36	benefits	benefit	NOUN
cblr-7808	100	37	of	of	ADP
cblr-7808	100	38	control	control	NOUN
cblr-7808	100	39	.	.	PUNCT
cblr-7808	101	1	moreover	moreover	ADV
cblr-7808	101	2	,	,	PUNCT
cblr-7808	101	3	distinguishing	distinguish	VERB
cblr-7808	101	4	between	between	ADP
cblr-7808	101	5	overconfidence	overconfidence	NOUN
cblr-7808	101	6	and	and	CCONJ
cblr-7808	101	7	traditional	traditional	ADJ
cblr-7808	101	8	agency	agency	NOUN
cblr-7808	101	9	costs	cost	NOUN
cblr-7808	101	10	ex	ex	PRON
cblr-7808	101	11	post	post	NOUN
cblr-7808	101	12	could	could	AUX
cblr-7808	101	13	prove	prove	VERB
cblr-7808	101	14	complicated	complicated	ADJ
cblr-7808	101	15	if	if	SCONJ
cblr-7808	101	16	not	not	PART
cblr-7808	101	17	impossible	impossible	ADJ
cblr-7808	101	18	.	.	PUNCT
cblr-7808	102	1	consider	consider	VERB
cblr-7808	102	2	the	the	DET
cblr-7808	102	3	three	three	NUM
cblr-7808	102	4	case	case	NOUN
cblr-7808	102	5	studies	study	NOUN
cblr-7808	102	6	presented	present	VERB
cblr-7808	102	7	by	by	ADP
cblr-7808	102	8	barzuza	barzuza	NOUN
cblr-7808	102	9	and	and	CCONJ
cblr-7808	102	10	talley	talley	NOUN
cblr-7808	102	11	.	.	PUNCT
cblr-7808	103	1	while	while	SCONJ
cblr-7808	103	2	they	they	PRON
cblr-7808	103	3	can	can	AUX
cblr-7808	103	4	be	be	AUX
cblr-7808	103	5	viewed	view	VERB
cblr-7808	103	6	as	as	ADP
cblr-7808	103	7	examples	example	NOUN
cblr-7808	103	8	of	of	ADP
cblr-7808	103	9	managerial	managerial	ADJ
cblr-7808	103	10	long	long	ADJ
cblr-7808	103	11	-	-	PUNCT
cblr-7808	103	12	term	term	NOUN
cblr-7808	103	13	bias	bias	NOUN
cblr-7808	103	14	,	,	PUNCT
cblr-7808	103	15	an	an	DET
cblr-7808	103	16	equally	equally	ADV
cblr-7808	103	17	plausible	plausible	ADJ
cblr-7808	103	18	interpretation	interpretation	NOUN
cblr-7808	103	19	would	would	AUX
cblr-7808	103	20	view	view	VERB
cblr-7808	103	21	them	they	PRON
cblr-7808	103	22	as	as	ADP
cblr-7808	103	23	examples	example	NOUN
cblr-7808	103	24	of	of	ADP
cblr-7808	103	25	pet	pet	ADJ
cblr-7808	103	26	projects	project	NOUN
cblr-7808	103	27	that	that	PRON
cblr-7808	103	28	provided	provide	VERB
cblr-7808	103	29	the	the	DET
cblr-7808	103	30	ceos	ceos	NOUN
cblr-7808	103	31	of	of	ADP
cblr-7808	103	32	these	these	DET
cblr-7808	103	33	companies	company	NOUN
cblr-7808	103	34	with	with	ADP
cblr-7808	103	35	psychic	psychic	ADJ
cblr-7808	103	36	private	private	ADJ
cblr-7808	103	37	benefits	benefit	NOUN
cblr-7808	103	38	.	.	PUNCT
cblr-7808	104	1	this	this	PRON
cblr-7808	104	2	also	also	ADV
cblr-7808	104	3	explains	explain	VERB
cblr-7808	104	4	why	why	SCONJ
cblr-7808	104	5	the	the	DET
cblr-7808	104	6	cure	cure	NOUN
cblr-7808	104	7	to	to	ADP
cblr-7808	104	8	both	both	CCONJ
cblr-7808	104	9	longterm	longterm	ADJ
cblr-7808	104	10	bias	bias	NOUN
cblr-7808	104	11	and	and	CCONJ
cblr-7808	104	12	agency	agency	NOUN
cblr-7808	104	13	costs	cost	NOUN
cblr-7808	104	14	is	be	AUX
cblr-7808	104	15	similar	similar	ADJ
cblr-7808	104	16	:	:	PUNCT
cblr-7808	104	17	reducing	reduce	VERB
cblr-7808	104	18	the	the	DET
cblr-7808	104	19	relative	relative	ADJ
cblr-7808	104	20	insulation	insulation	NOUN
cblr-7808	104	21	of	of	ADP
cblr-7808	104	22	the	the	DET
cblr-7808	104	23	board	board	NOUN
cblr-7808	104	24	from	from	ADP
cblr-7808	104	25	shareholders	shareholder	NOUN
cblr-7808	104	26	’	'	PUNCT
cblr-7808	104	27	disciplinary	disciplinary	ADJ
cblr-7808	104	28	power	power	NOUN
cblr-7808	104	29	so	so	SCONJ
cblr-7808	104	30	that	that	SCONJ
cblr-7808	104	31	shareholders	shareholder	NOUN
cblr-7808	104	32	can	can	AUX
cblr-7808	104	33	hold	hold	VERB
cblr-7808	104	34	managers	manager	NOUN
cblr-7808	104	35	accountable	accountable	ADJ
cblr-7808	104	36	when	when	SCONJ
cblr-7808	104	37	they	they	PRON
cblr-7808	104	38	underperform	underperform	VERB
cblr-7808	104	39	.	.	PUNCT
cblr-7808	105	1	finally	finally	ADV
cblr-7808	105	2	,	,	PUNCT
cblr-7808	105	3	part	part	NOUN
cblr-7808	105	4	iv	iv	NUM
cblr-7808	105	5	discusses	discuss	VERB
cblr-7808	105	6	the	the	DET
cblr-7808	105	7	policy	policy	NOUN
cblr-7808	105	8	implications	implication	NOUN
cblr-7808	105	9	of	of	ADP
cblr-7808	105	10	barzuza	barzuza	NOUN
cblr-7808	105	11	and	and	CCONJ
cblr-7808	105	12	talley	talley	NOUN
cblr-7808	105	13	’s	’s	PART
cblr-7808	105	14	analysis	analysis	NOUN
cblr-7808	105	15	.	.	PUNCT
cblr-7808	106	1	most	most	ADJ
cblr-7808	106	2	of	of	ADP
cblr-7808	106	3	their	their	PRON
cblr-7808	106	4	recommendations	recommendation	NOUN
cblr-7808	106	5	for	for	ADP
cblr-7808	106	6	mitigating	mitigate	VERB
cblr-7808	106	7	long	long	ADJ
cblr-7808	106	8	-	-	PUNCT
cblr-7808	106	9	term	term	NOUN
cblr-7808	106	10	bias	bias	NOUN
cblr-7808	106	11	—	—	PUNCT
cblr-7808	106	12	by	by	ADP
cblr-7808	106	13	reducing	reduce	VERB
cblr-7808	106	14	managerial	managerial	ADJ
cblr-7808	106	15	insulation	insulation	NOUN
cblr-7808	106	16	,	,	PUNCT
cblr-7808	106	17	increasing	increase	VERB
cblr-7808	106	18	accountability	accountability	NOUN
cblr-7808	106	19	by	by	ADP
cblr-7808	106	20	upholding	uphold	VERB
cblr-7808	106	21	quarterly	quarterly	ADJ
cblr-7808	106	22	reporting	reporting	NOUN
cblr-7808	106	23	,	,	PUNCT
cblr-7808	106	24	and	and	CCONJ
cblr-7808	106	25	enabling	enable	VERB
cblr-7808	106	26	hedge	hedge	NOUN
cblr-7808	106	27	funds	fund	NOUN
cblr-7808	106	28	to	to	PART
cblr-7808	106	29	engage	engage	VERB
cblr-7808	106	30	with	with	ADP
cblr-7808	106	31	targets20	targets20	NOUN
cblr-7808	106	32	—	—	PUNCT
cblr-7808	106	33	have	have	VERB
cblr-7808	106	34	merit	merit	NOUN
cblr-7808	106	35	.	.	PUNCT
cblr-7808	107	1	unlike	unlike	ADP
cblr-7808	107	2	stephen	stephen	PROPN
cblr-7808	107	3	bainbridge	bainbridge	PROPN
cblr-7808	107	4	,	,	PUNCT
cblr-7808	107	5	who	who	PRON
cblr-7808	107	6	rejects	reject	VERB
cblr-7808	107	7	barzuza	barzuza	NOUN
cblr-7808	107	8	and	and	CCONJ
cblr-7808	107	9	talley	talley	PROPN
cblr-7808	107	10	’s	’s	PART
cblr-7808	107	11	recommendations,21	recommendations,21	VERB
cblr-7808	107	12	i	i	PRON
cblr-7808	107	13	strongly	strongly	ADV
cblr-7808	107	14	support	support	VERB
cblr-7808	107	15	most	most	ADJ
cblr-7808	107	16	of	of	ADP
cblr-7808	107	17	their	their	PRON
cblr-7808	107	18	normative	normative	ADJ
cblr-7808	107	19	conclusions	conclusion	NOUN
cblr-7808	107	20	,	,	PUNCT
cblr-7808	107	21	with	with	ADP
cblr-7808	107	22	one	one	NUM
cblr-7808	107	23	important	important	ADJ
cblr-7808	107	24	exception	exception	NOUN
cblr-7808	107	25	:	:	PUNCT
cblr-7808	107	26	their	their	PRON
cblr-7808	107	27	acceptance	acceptance	NOUN
cblr-7808	107	28	of	of	ADP
cblr-7808	107	29	the	the	DET
cblr-7808	107	30	use	use	NOUN
cblr-7808	107	31	of	of	ADP
cblr-7808	107	32	dual	dual	ADJ
cblr-7808	107	33	-	-	PUNCT
cblr-7808	107	34	class	class	NOUN
cblr-7808	107	35	stock.22	stock.22	NOUN
cblr-7808	107	36	founders	founder	NOUN
cblr-7808	107	37	are	be	AUX
cblr-7808	107	38	especially	especially	ADV
cblr-7808	107	39	prone	prone	ADJ
cblr-7808	107	40	to	to	ADP
cblr-7808	107	41	overconfidence	overconfidence	NOUN
cblr-7808	107	42	and	and	CCONJ
cblr-7808	107	43	overoptimism	overoptimism	NOUN
cblr-7808	107	44	,	,	PUNCT
cblr-7808	107	45	which	which	PRON
cblr-7808	107	46	could	could	AUX
cblr-7808	107	47	manifest	manifest	VERB
cblr-7808	107	48	in	in	ADP
cblr-7808	107	49	long	long	ADJ
cblr-7808	107	50	-	-	PUNCT
cblr-7808	107	51	term	term	NOUN
cblr-7808	107	52	biases	bias	NOUN
cblr-7808	107	53	.	.	PUNCT
cblr-7808	108	1	having	have	VERB
cblr-7808	108	2	a	a	DET
cblr-7808	108	3	perpetual	perpetual	ADJ
cblr-7808	108	4	lock	lock	NOUN
cblr-7808	108	5	on	on	ADP
cblr-7808	108	6	control	control	NOUN
cblr-7808	108	7	and	and	CCONJ
cblr-7808	108	8	a	a	DET
cblr-7808	108	9	limited	limited	ADJ
cblr-7808	108	10	equity	equity	NOUN
cblr-7808	108	11	stake	stake	NOUN
cblr-7808	108	12	,	,	PUNCT
cblr-7808	108	13	these	these	DET
cblr-7808	108	14	founders	founder	NOUN
cblr-7808	108	15	are	be	AUX
cblr-7808	108	16	immune	immune	ADJ
cblr-7808	108	17	to	to	ADP
cblr-7808	108	18	any	any	DET
cblr-7808	108	19	“	"	PUNCT
cblr-7808	108	20	institutional	institutional	ADJ
cblr-7808	108	21	brake	brake	NOUN
cblr-7808	108	22	”	"	PUNCT
cblr-7808	108	23	on	on	ADP
cblr-7808	108	24	any	any	DET
cblr-7808	108	25	form	form	NOUN
cblr-7808	108	26	of	of	ADP
cblr-7808	108	27	long	long	ADJ
cblr-7808	108	28	-	-	PUNCT
cblr-7808	108	29	termist	termist	NOUN
cblr-7808	108	30	overinvestment.23	overinvestment.23	NOUN
cblr-7808	108	31	i	i	PRON
cblr-7808	108	32	posit	posit	VERB
cblr-7808	108	33	that	that	SCONJ
cblr-7808	108	34	,	,	PUNCT
cblr-7808	108	35	if	if	SCONJ
cblr-7808	108	36	anything	anything	PRON
cblr-7808	108	37	,	,	PUNCT
cblr-7808	108	38	barzuza	barzuza	NOUN
cblr-7808	108	39	and	and	CCONJ
cblr-7808	108	40	talley	talley	NOUN
cblr-7808	108	41	’s	’s	PART
cblr-7808	108	42	analysis	analysis	NOUN
cblr-7808	108	43	,	,	PUNCT
cblr-7808	108	44	which	which	PRON
cblr-7808	108	45	calls	call	VERB
cblr-7808	108	46	for	for	ADP
cblr-7808	108	47	increasing	increase	VERB
cblr-7808	108	48	20	20	NUM
cblr-7808	108	49	see	see	VERB
cblr-7808	108	50	i	i	PRON
cblr-7808	108	51	d.	d.	PROPN
cblr-7808	108	52	at	at	ADP
cblr-7808	108	53	181–83	181–83	NUM
cblr-7808	108	54	.	.	PUNCT
cblr-7808	109	1	21	21	NUM
cblr-7808	109	2	stephen	stephen	PROPN
cblr-7808	109	3	bainbridge	bainbridge	PROPN
cblr-7808	109	4	,	,	PUNCT
cblr-7808	109	5	comment	comment	NOUN
cblr-7808	109	6	,	,	PUNCT
cblr-7808	109	7	long	long	ADJ
cblr-7808	109	8	-	-	PUNCT
cblr-7808	109	9	term	term	NOUN
cblr-7808	109	10	bias	bias	NOUN
cblr-7808	109	11	and	and	CCONJ
cblr-7808	109	12	director	director	NOUN
cblr-7808	109	13	primacy	primacy	NOUN
cblr-7808	109	14	,	,	PUNCT
cblr-7808	109	15	2020	2020	NUM
cblr-7808	109	16	colum	colum	NOUN
cblr-7808	109	17	.	.	PUNCT
cblr-7808	110	1	bus	bus	NOUN
cblr-7808	110	2	.	.	PUNCT
cblr-7808	111	1	l.	l.	PROPN
cblr-7808	111	2	rev	rev	PROPN
cblr-7808	111	3	.	.	PROPN
cblr-7808	111	4	801	801	NUM
cblr-7808	111	5	,	,	PUNCT
cblr-7808	111	6	818–24	818–24	NUM
cblr-7808	111	7	.	.	PUNCT
cblr-7808	112	1	22	22	NUM
cblr-7808	112	2	see	see	VERB
cblr-7808	112	3	barzuza	barzuza	NOUN
cblr-7808	112	4	&	&	CCONJ
cblr-7808	112	5	talley	talley	PROPN
cblr-7808	112	6	,	,	PUNCT
cblr-7808	112	7	supra	supra	PROPN
cblr-7808	112	8	note	note	PROPN
cblr-7808	112	9	6	6	NUM
cblr-7808	112	10	,	,	PUNCT
cblr-7808	112	11	at	at	ADP
cblr-7808	112	12	183–85	183–85	NUM
cblr-7808	112	13	.	.	PUNCT
cblr-7808	113	1	23	23	NUM
cblr-7808	113	2	see	see	VERB
cblr-7808	113	3	i	i	PRON
cblr-7808	113	4	d.	d.	PROPN
cblr-7808	113	5	kastiel	kastiel	PROPN
cblr-7808	113	6	(	(	PUNCT
cblr-7808	113	7	comment	comment	NOUN
cblr-7808	113	8	)	)	PUNCT
cblr-7808	113	9	1/15/2021	1/15/2021	NUM
cblr-7808	113	10	2:38	2:38	NUM
cblr-7808	113	11	pm	pm	NOUN
cblr-7808	113	12	no	no	INTJ
cblr-7808	113	13	.	.	PUNCT
cblr-7808	114	1	3:834	3:834	NUM
cblr-7808	114	2	]	]	X
cblr-7808	114	3	long	long	ADJ
cblr-7808	114	4	-	-	PUNCT
cblr-7808	114	5	term	term	NOUN
cblr-7808	114	6	bias	bias	NOUN
cblr-7808	114	7	,	,	PUNCT
cblr-7808	114	8	incentives	incentive	NOUN
cblr-7808	114	9	,	,	PUNCT
cblr-7808	114	10	and	and	CCONJ
cblr-7808	114	11	agency	agency	NOUN
cblr-7808	114	12	costs	cost	VERB
cblr-7808	114	13	841	841	NUM
cblr-7808	114	14	managerial	managerial	ADJ
cblr-7808	114	15	accountability	accountability	NOUN
cblr-7808	114	16	,	,	PUNCT
cblr-7808	114	17	provides	provide	VERB
cblr-7808	114	18	an	an	DET
cblr-7808	114	19	additional	additional	ADJ
cblr-7808	114	20	strong	strong	ADJ
cblr-7808	114	21	justification	justification	NOUN
cblr-7808	114	22	to	to	PART
cblr-7808	114	23	oppose	oppose	VERB
cblr-7808	114	24	the	the	DET
cblr-7808	114	25	use	use	NOUN
cblr-7808	114	26	of	of	ADP
cblr-7808	114	27	dual	dual	ADJ
cblr-7808	114	28	-	-	PUNCT
cblr-7808	114	29	class	class	NOUN
cblr-7808	114	30	stock	stock	NOUN
cblr-7808	114	31	:	:	PUNCT
cblr-7808	114	32	to	to	PART
cblr-7808	114	33	put	put	VERB
cblr-7808	114	34	an	an	DET
cblr-7808	114	35	end	end	NOUN
cblr-7808	114	36	to	to	ADP
cblr-7808	114	37	founders	founder	NOUN
cblr-7808	114	38	’	'	PUNCT
cblr-7808	114	39	perpetual	perpetual	ADJ
cblr-7808	114	40	insulation	insulation	NOUN
cblr-7808	114	41	from	from	ADP
cblr-7808	114	42	shareholder	shareholder	NOUN
cblr-7808	114	43	intervention	intervention	NOUN
cblr-7808	114	44	.	.	PUNCT
cblr-7808	115	1	ii	ii	PROPN
cblr-7808	115	2	.	.	PUNCT
cblr-7808	116	1	biases	bias	NOUN
cblr-7808	116	2	versus	versus	ADP
cblr-7808	116	3	incentives	incentive	VERB
cblr-7808	116	4	a.	a.	NOUN
cblr-7808	116	5	the	the	DET
cblr-7808	116	6	importance	importance	NOUN
cblr-7808	116	7	of	of	ADP
cblr-7808	116	8	incentives	incentive	NOUN
cblr-7808	116	9	barzuza	barzuza	NOUN
cblr-7808	116	10	and	and	CCONJ
cblr-7808	116	11	talley	talley	NOUN
cblr-7808	116	12	draw	draw	VERB
cblr-7808	116	13	upon	upon	SCONJ
cblr-7808	116	14	the	the	DET
cblr-7808	116	15	large	large	ADJ
cblr-7808	116	16	body	body	NOUN
cblr-7808	116	17	of	of	ADP
cblr-7808	116	18	literature	literature	NOUN
cblr-7808	116	19	in	in	ADP
cblr-7808	116	20	psychology	psychology	NOUN
cblr-7808	116	21	and	and	CCONJ
cblr-7808	116	22	behavioral	behavioral	ADJ
cblr-7808	116	23	economics	economic	NOUN
cblr-7808	116	24	that	that	PRON
cblr-7808	116	25	documents	document	VERB
cblr-7808	116	26	a	a	DET
cblr-7808	116	27	widespread	widespread	ADJ
cblr-7808	116	28	human	human	ADJ
cblr-7808	116	29	tendency	tendency	NOUN
cblr-7808	116	30	to	to	PART
cblr-7808	116	31	be	be	AUX
cblr-7808	116	32	overconfident	overconfident	ADJ
cblr-7808	116	33	in	in	ADP
cblr-7808	116	34	their	their	PRON
cblr-7808	116	35	abilities	ability	NOUN
cblr-7808	116	36	and	and	CCONJ
cblr-7808	116	37	overly	overly	ADV
cblr-7808	116	38	-	-	PUNCT
cblr-7808	116	39	optimistic	optimistic	ADJ
cblr-7808	116	40	,	,	PUNCT
cblr-7808	116	41	with	with	ADP
cblr-7808	116	42	such	such	ADJ
cblr-7808	116	43	biases	bias	NOUN
cblr-7808	116	44	causing	cause	VERB
cblr-7808	116	45	irrational	irrational	ADJ
cblr-7808	116	46	behavior.24	behavior.24	NOUN
cblr-7808	116	47	corporate	corporate	ADJ
cblr-7808	116	48	managers	manager	NOUN
cblr-7808	116	49	are	be	AUX
cblr-7808	116	50	not	not	PART
cblr-7808	116	51	different	different	ADJ
cblr-7808	116	52	.	.	PUNCT
cblr-7808	117	1	if	if	SCONJ
cblr-7808	117	2	anything	anything	PRON
cblr-7808	117	3	,	,	PUNCT
cblr-7808	117	4	according	accord	VERB
cblr-7808	117	5	to	to	ADP
cblr-7808	117	6	barzuza	barzuza	NOUN
cblr-7808	117	7	and	and	CCONJ
cblr-7808	117	8	talley	talley	NOUN
cblr-7808	117	9	,	,	PUNCT
cblr-7808	117	10	these	these	DET
cblr-7808	117	11	executives	executive	NOUN
cblr-7808	117	12	appear	appear	VERB
cblr-7808	117	13	to	to	PART
cblr-7808	117	14	be	be	AUX
cblr-7808	117	15	particularly	particularly	ADV
cblr-7808	117	16	prone	prone	ADJ
cblr-7808	117	17	to	to	ADP
cblr-7808	117	18	overconfidence	overconfidence	NOUN
cblr-7808	117	19	and	and	CCONJ
cblr-7808	117	20	optimism	optimism	NOUN
cblr-7808	117	21	.	.	PUNCT
cblr-7808	118	1	as	as	SCONJ
cblr-7808	118	2	the	the	DET
cblr-7808	118	3	authors	author	NOUN
cblr-7808	118	4	explain	explain	VERB
cblr-7808	118	5	,	,	PUNCT
cblr-7808	118	6	managerial	managerial	ADJ
cblr-7808	118	7	decisionmakers	decisionmaker	NOUN
cblr-7808	118	8	tend	tend	VERB
cblr-7808	118	9	to	to	PART
cblr-7808	118	10	suffer	suffer	VERB
cblr-7808	118	11	from	from	ADP
cblr-7808	118	12	the	the	DET
cblr-7808	118	13	“	"	PUNCT
cblr-7808	118	14	illusion	illusion	NOUN
cblr-7808	118	15	of	of	ADP
cblr-7808	118	16	control	control	NOUN
cblr-7808	118	17	.	.	PUNCT
cblr-7808	119	1	”25	”25	ADJ
cblr-7808	119	2	managers	manager	NOUN
cblr-7808	119	3	also	also	ADV
cblr-7808	119	4	“	"	PUNCT
cblr-7808	119	5	tend	tend	VERB
cblr-7808	119	6	to	to	PART
cblr-7808	119	7	discount	discount	VERB
cblr-7808	119	8	feedback	feedback	NOUN
cblr-7808	119	9	and	and	CCONJ
cblr-7808	119	10	relevant	relevant	ADJ
cblr-7808	119	11	data	datum	NOUN
cblr-7808	119	12	;	;	PUNCT
cblr-7808	119	13	and	and	CCONJ
cblr-7808	119	14	.	.	PUNCT
cblr-7808	119	15	.	.	PUNCT
cblr-7808	120	1	.	.	PUNCT
cblr-7808	121	1	tend	tend	VERB
cblr-7808	121	2	to	to	PART
cblr-7808	121	3	receive	receive	VERB
cblr-7808	121	4	such	such	ADJ
cblr-7808	121	5	feedback	feedback	NOUN
cblr-7808	121	6	more	more	ADV
cblr-7808	121	7	sporadically	sporadically	ADV
cblr-7808	121	8	for	for	ADP
cblr-7808	121	9	long	long	ADJ
cblr-7808	121	10	-	-	PUNCT
cblr-7808	121	11	term	term	NOUN
cblr-7808	121	12	endeavors	endeavor	NOUN
cblr-7808	121	13	.	.	PUNCT
cblr-7808	122	1	”26	”26	VERB
cblr-7808	122	2	consequently	consequently	ADV
cblr-7808	122	3	,	,	PUNCT
cblr-7808	122	4	they	they	PRON
cblr-7808	122	5	conclude	conclude	VERB
cblr-7808	122	6	that	that	SCONJ
cblr-7808	122	7	“	"	PUNCT
cblr-7808	122	8	managers	manager	NOUN
cblr-7808	122	9	’	'	PUNCT
cblr-7808	122	10	long	long	ADJ
cblr-7808	122	11	-	-	PUNCT
cblr-7808	122	12	term	term	NOUN
cblr-7808	122	13	24	24	NUM
cblr-7808	122	14	as	as	SCONJ
cblr-7808	122	15	shelley	shelley	PROPN
cblr-7808	122	16	e.	e.	PROPN
cblr-7808	122	17	taylor	taylor	PROPN
cblr-7808	122	18	&	&	CCONJ
cblr-7808	122	19	jonathon	jonathon	PROPN
cblr-7808	122	20	d.	d.	PROPN
cblr-7808	122	21	brown	brown	PROPN
cblr-7808	122	22	summarize	summarize	VERB
cblr-7808	122	23	:	:	PUNCT
cblr-7808	122	24	[	[	X
cblr-7808	122	25	a	a	X
cblr-7808	122	26	]	]	X
cblr-7808	122	27	great	great	ADJ
cblr-7808	122	28	deal	deal	NOUN
cblr-7808	122	29	of	of	ADP
cblr-7808	122	30	research	research	NOUN
cblr-7808	122	31	in	in	ADP
cblr-7808	122	32	social	social	ADJ
cblr-7808	122	33	,	,	PUNCT
cblr-7808	122	34	personality	personality	NOUN
cblr-7808	122	35	,	,	PUNCT
cblr-7808	122	36	clinical	clinical	ADJ
cblr-7808	122	37	,	,	PUNCT
cblr-7808	122	38	and	and	CCONJ
cblr-7808	122	39	developmental	developmental	ADJ
cblr-7808	122	40	psychology	psychology	NOUN
cblr-7808	122	41	documents	document	NOUN
cblr-7808	122	42	that	that	PRON
cblr-7808	122	43	normal	normal	ADJ
cblr-7808	122	44	individuals	individual	NOUN
cblr-7808	122	45	possess	possess	VERB
cblr-7808	122	46	unrealistically	unrealistically	ADV
cblr-7808	122	47	positive	positive	ADJ
cblr-7808	122	48	views	view	NOUN
cblr-7808	122	49	of	of	ADP
cblr-7808	122	50	themselves	themselves	PRON
cblr-7808	122	51	,	,	PUNCT
cblr-7808	122	52	an	an	DET
cblr-7808	122	53	exaggerated	exaggerated	ADJ
cblr-7808	122	54	belief	belief	NOUN
cblr-7808	122	55	in	in	ADP
cblr-7808	122	56	their	their	PRON
cblr-7808	122	57	ability	ability	NOUN
cblr-7808	122	58	to	to	PART
cblr-7808	122	59	control	control	VERB
cblr-7808	122	60	their	their	PRON
cblr-7808	122	61	environment	environment	NOUN
cblr-7808	122	62	,	,	PUNCT
cblr-7808	122	63	and	and	CCONJ
cblr-7808	122	64	a	a	DET
cblr-7808	122	65	view	view	NOUN
cblr-7808	122	66	of	of	ADP
cblr-7808	122	67	the	the	DET
cblr-7808	122	68	future	future	NOUN
cblr-7808	122	69	that	that	PRON
cblr-7808	122	70	maintains	maintain	VERB
cblr-7808	122	71	that	that	SCONJ
cblr-7808	122	72	their	their	PRON
cblr-7808	122	73	future	future	NOUN
cblr-7808	122	74	will	will	AUX
cblr-7808	122	75	be	be	AUX
cblr-7808	122	76	far	far	ADV
cblr-7808	122	77	better	well	ADJ
cblr-7808	122	78	than	than	ADP
cblr-7808	122	79	the	the	DET
cblr-7808	122	80	average	average	ADJ
cblr-7808	122	81	person	person	NOUN
cblr-7808	122	82	’s	’s	PART
cblr-7808	122	83	.	.	PUNCT
cblr-7808	123	1	illusion	illusion	NOUN
cblr-7808	123	2	and	and	CCONJ
cblr-7808	123	3	well	well	ADV
cblr-7808	123	4	-	-	PUNCT
cblr-7808	123	5	being	being	NOUN
cblr-7808	123	6	:	:	PUNCT
cblr-7808	123	7	a	a	DET
cblr-7808	123	8	social	social	ADJ
cblr-7808	123	9	psychological	psychological	ADJ
cblr-7808	123	10	perspective	perspective	NOUN
cblr-7808	123	11	on	on	ADP
cblr-7808	123	12	mental	mental	ADJ
cblr-7808	123	13	health	health	NOUN
cblr-7808	123	14	,	,	PUNCT
cblr-7808	123	15	103	103	NUM
cblr-7808	123	16	psych	psych	NOUN
cblr-7808	123	17	.	.	PUNCT
cblr-7808	124	1	bull	bull	NOUN
cblr-7808	124	2	.	.	PUNCT
cblr-7808	125	1	193	193	NUM
cblr-7808	125	2	,	,	PUNCT
cblr-7808	125	3	197	197	NUM
cblr-7808	125	4	(	(	PUNCT
cblr-7808	125	5	1988	1988	NUM
cblr-7808	125	6	)	)	PUNCT
cblr-7808	125	7	.	.	PUNCT
cblr-7808	126	1	evidence	evidence	NOUN
cblr-7808	126	2	that	that	SCONJ
cblr-7808	126	3	such	such	ADJ
cblr-7808	126	4	biases	bias	NOUN
cblr-7808	126	5	extend	extend	VERB
cblr-7808	126	6	to	to	ADP
cblr-7808	126	7	management	management	NOUN
cblr-7808	126	8	students	student	NOUN
cblr-7808	126	9	,	,	PUNCT
cblr-7808	126	10	entrepreneurs	entrepreneur	NOUN
cblr-7808	126	11	,	,	PUNCT
cblr-7808	126	12	and	and	CCONJ
cblr-7808	126	13	corporate	corporate	ADJ
cblr-7808	126	14	presidents	president	NOUN
cblr-7808	126	15	appears	appear	VERB
cblr-7808	126	16	,	,	PUNCT
cblr-7808	126	17	for	for	ADP
cblr-7808	126	18	example	example	NOUN
cblr-7808	126	19	,	,	PUNCT
cblr-7808	126	20	in	in	ADP
cblr-7808	126	21	colin	colin	PROPN
cblr-7808	126	22	camerer	camerer	PROPN
cblr-7808	126	23	&	&	CCONJ
cblr-7808	126	24	dan	dan	PROPN
cblr-7808	126	25	lovallo	lovallo	PROPN
cblr-7808	126	26	,	,	PUNCT
cblr-7808	126	27	overconfidence	overconfidence	NOUN
cblr-7808	126	28	and	and	CCONJ
cblr-7808	126	29	excess	excess	ADJ
cblr-7808	126	30	entry	entry	NOUN
cblr-7808	126	31	:	:	PUNCT
cblr-7808	126	32	an	an	DET
cblr-7808	126	33	experimental	experimental	ADJ
cblr-7808	126	34	approach	approach	NOUN
cblr-7808	126	35	,	,	PUNCT
cblr-7808	126	36	89	89	NUM
cblr-7808	126	37	am	am	NOUN
cblr-7808	126	38	.	.	PUNCT
cblr-7808	127	1	econ	econ	PROPN
cblr-7808	127	2	.	.	PUNCT
cblr-7808	128	1	rev	rev	PROPN
cblr-7808	128	2	.	.	PROPN
cblr-7808	128	3	306	306	NUM
cblr-7808	128	4	,	,	PUNCT
cblr-7808	128	5	310	310	NUM
cblr-7808	128	6	,	,	PUNCT
cblr-7808	128	7	311	311	NUM
cblr-7808	128	8	&	&	CCONJ
cblr-7808	128	9	n.6	n.6	PROPN
cblr-7808	128	10	,	,	PUNCT
cblr-7808	128	11	312–16	312–16	NOUN
cblr-7808	128	12	(	(	PUNCT
cblr-7808	128	13	1999	1999	NUM
cblr-7808	128	14	)	)	PUNCT
cblr-7808	128	15	.	.	PUNCT
cblr-7808	129	1	25	25	NUM
cblr-7808	129	2	a	a	DET
cblr-7808	129	3	ceo	ceo	NOUN
cblr-7808	129	4	who	who	PRON
cblr-7808	129	5	hand	hand	NOUN
cblr-7808	129	6	-	-	PUNCT
cblr-7808	129	7	picks	pick	VERB
cblr-7808	129	8	an	an	DET
cblr-7808	129	9	investment	investment	NOUN
cblr-7808	129	10	project	project	NOUN
cblr-7808	129	11	is	be	AUX
cblr-7808	129	12	likely	likely	ADJ
cblr-7808	129	13	to	to	PART
cblr-7808	129	14	believe	believe	VERB
cblr-7808	129	15	he	he	PRON
cblr-7808	129	16	can	can	AUX
cblr-7808	129	17	control	control	VERB
cblr-7808	129	18	its	its	PRON
cblr-7808	129	19	outcome	outcome	NOUN
cblr-7808	129	20	and	and	CCONJ
cblr-7808	129	21	underestimate	underestimate	VERB
cblr-7808	129	22	the	the	DET
cblr-7808	129	23	likelihood	likelihood	NOUN
cblr-7808	129	24	of	of	ADP
cblr-7808	129	25	failure	failure	NOUN
cblr-7808	129	26	.	.	PUNCT
cblr-7808	130	1	see	see	VERB
cblr-7808	130	2	barzuza	barzuza	PROPN
cblr-7808	130	3	&	&	CCONJ
cblr-7808	130	4	talley	talley	PROPN
cblr-7808	130	5	,	,	PUNCT
cblr-7808	130	6	supra	supra	PROPN
cblr-7808	130	7	note	note	PROPN
cblr-7808	130	8	6	6	NUM
cblr-7808	130	9	,	,	PUNCT
cblr-7808	130	10	at	at	ADP
cblr-7808	130	11	143–47	143–47	NUM
cblr-7808	130	12	.	.	X
cblr-7808	130	13	26	26	NUM
cblr-7808	131	1	i	i	PRON
cblr-7808	131	2	d.	d.	PROPN
cblr-7808	131	3	at	at	ADP
cblr-7808	131	4	112	112	NUM
cblr-7808	131	5	.	.	PUNCT
cblr-7808	132	1	kastiel	kastiel	NOUN
cblr-7808	132	2	(	(	PUNCT
cblr-7808	132	3	comment	comment	NOUN
cblr-7808	132	4	)	)	PUNCT
cblr-7808	132	5	1/15/2021	1/15/2021	NUM
cblr-7808	132	6	2:38	2:38	NUM
cblr-7808	132	7	pm	pm	NOUN
cblr-7808	132	8	842	842	NUM
cblr-7808	132	9	columbia	columbia	PROPN
cblr-7808	132	10	business	business	NOUN
cblr-7808	132	11	law	law	PROPN
cblr-7808	132	12	review	review	NOUN
cblr-7808	132	13	[	[	X
cblr-7808	132	14	vol	vol	NOUN
cblr-7808	132	15	.	.	NOUN
cblr-7808	132	16	2020	2020	NUM
cblr-7808	132	17	projects	project	NOUN
cblr-7808	132	18	are	be	AUX
cblr-7808	132	19	particularly	particularly	ADV
cblr-7808	132	20	prone	prone	ADJ
cblr-7808	132	21	to	to	ADP
cblr-7808	132	22	persistent	persistent	ADJ
cblr-7808	132	23	overestimation	overestimation	NOUN
cblr-7808	132	24	.	.	PUNCT
cblr-7808	133	1	”27	”27	ADJ
cblr-7808	133	2	long	long	ADJ
cblr-7808	133	3	-	-	PUNCT
cblr-7808	133	4	term	term	NOUN
cblr-7808	133	5	biases	bias	NOUN
cblr-7808	133	6	come	come	VERB
cblr-7808	133	7	with	with	ADP
cblr-7808	133	8	costs	cost	NOUN
cblr-7808	133	9	.	.	PUNCT
cblr-7808	134	1	barzuza	barzuza	NOUN
cblr-7808	134	2	and	and	CCONJ
cblr-7808	134	3	talley	talley	NOUN
cblr-7808	134	4	define	define	VERB
cblr-7808	134	5	long	long	ADJ
cblr-7808	134	6	-	-	PUNCT
cblr-7808	134	7	term	term	NOUN
cblr-7808	134	8	bias	bias	NOUN
cblr-7808	134	9	as	as	ADP
cblr-7808	134	10	a	a	DET
cblr-7808	134	11	“	"	PUNCT
cblr-7808	134	12	preference	preference	NOUN
cblr-7808	134	13	for	for	ADP
cblr-7808	134	14	a	a	DET
cblr-7808	134	15	long	long	ADJ
cblr-7808	134	16	-	-	PUNCT
cblr-7808	134	17	term	term	NOUN
cblr-7808	134	18	investment	investment	NOUN
cblr-7808	134	19	over	over	ADP
cblr-7808	134	20	a	a	DET
cblr-7808	134	21	superior	superior	ADJ
cblr-7808	134	22	short	short	ADJ
cblr-7808	134	23	-	-	PUNCT
cblr-7808	134	24	term	term	NOUN
cblr-7808	134	25	investment	investment	NOUN
cblr-7808	134	26	/	/	SYM
cblr-7808	134	27	return	return	NOUN
cblr-7808	134	28	”	"	PUNCT
cblr-7808	134	29	and	and	CCONJ
cblr-7808	134	30	short	short	ADJ
cblr-7808	134	31	-	-	PUNCT
cblr-7808	134	32	term	term	NOUN
cblr-7808	134	33	bias	bias	NOUN
cblr-7808	134	34	as	as	ADP
cblr-7808	134	35	a	a	DET
cblr-7808	134	36	“	"	PUNCT
cblr-7808	134	37	preference	preference	NOUN
cblr-7808	134	38	for	for	ADP
cblr-7808	134	39	a	a	DET
cblr-7808	134	40	short	short	ADJ
cblr-7808	134	41	-	-	PUNCT
cblr-7808	134	42	term	term	NOUN
cblr-7808	134	43	investment	investment	NOUN
cblr-7808	134	44	/	/	SYM
cblr-7808	134	45	gain	gain	NOUN
cblr-7808	134	46	over	over	ADP
cblr-7808	134	47	a	a	DET
cblr-7808	134	48	superior	superior	ADJ
cblr-7808	134	49	long	long	ADJ
cblr-7808	134	50	-	-	PUNCT
cblr-7808	134	51	term	term	NOUN
cblr-7808	134	52	investment	investment	NOUN
cblr-7808	134	53	/	/	SYM
cblr-7808	134	54	return	return	NOUN
cblr-7808	134	55	.	.	PUNCT
cblr-7808	135	1	”28	”28	NOUN
cblr-7808	135	2	this	this	PRON
cblr-7808	135	3	suggests	suggest	VERB
cblr-7808	135	4	a	a	DET
cblr-7808	135	5	crucial	crucial	ADJ
cblr-7808	135	6	difference	difference	NOUN
cblr-7808	135	7	between	between	ADP
cblr-7808	135	8	these	these	DET
cblr-7808	135	9	two	two	NUM
cblr-7808	135	10	biases	bias	NOUN
cblr-7808	135	11	.	.	PUNCT
cblr-7808	136	1	short	short	ADJ
cblr-7808	136	2	-	-	PUNCT
cblr-7808	136	3	term	term	NOUN
cblr-7808	136	4	bias	bias	NOUN
cblr-7808	136	5	presents	present	VERB
cblr-7808	136	6	a	a	DET
cblr-7808	136	7	clear	clear	ADJ
cblr-7808	136	8	trade	trade	NOUN
cblr-7808	136	9	-	-	PUNCT
cblr-7808	136	10	off	off	NOUN
cblr-7808	136	11	:	:	PUNCT
cblr-7808	136	12	investors	investor	NOUN
cblr-7808	136	13	enjoy	enjoy	VERB
cblr-7808	136	14	liquidity	liquidity	NOUN
cblr-7808	136	15	and	and	CCONJ
cblr-7808	136	16	early	early	ADJ
cblr-7808	136	17	realization	realization	NOUN
cblr-7808	136	18	of	of	ADP
cblr-7808	136	19	their	their	PRON
cblr-7808	136	20	investments	investment	NOUN
cblr-7808	136	21	in	in	ADP
cblr-7808	136	22	exchange	exchange	NOUN
cblr-7808	136	23	for	for	ADP
cblr-7808	136	24	inferior	inferior	ADJ
cblr-7808	136	25	returns	return	NOUN
cblr-7808	136	26	.	.	PUNCT
cblr-7808	137	1	long	long	ADJ
cblr-7808	137	2	-	-	PUNCT
cblr-7808	137	3	term	term	NOUN
cblr-7808	137	4	bias	bias	NOUN
cblr-7808	137	5	,	,	PUNCT
cblr-7808	137	6	however	however	ADV
cblr-7808	137	7	,	,	PUNCT
cblr-7808	137	8	is	be	AUX
cblr-7808	137	9	a	a	DET
cblr-7808	137	10	lose	lose	NOUN
cblr-7808	137	11	-	-	PUNCT
cblr-7808	137	12	lose	lose	NOUN
cblr-7808	137	13	proposition	proposition	NOUN
cblr-7808	137	14	.	.	PUNCT
cblr-7808	138	1	investors	investor	NOUN
cblr-7808	138	2	suffer	suffer	VERB
cblr-7808	138	3	from	from	ADP
cblr-7808	138	4	a	a	DET
cblr-7808	138	5	delayed	delay	VERB
cblr-7808	138	6	realization	realization	NOUN
cblr-7808	138	7	of	of	ADP
cblr-7808	138	8	their	their	PRON
cblr-7808	138	9	investments	investment	NOUN
cblr-7808	138	10	and	and	CCONJ
cblr-7808	138	11	inferior	inferior	ADJ
cblr-7808	138	12	returns	return	NOUN
cblr-7808	138	13	.	.	PUNCT
cblr-7808	139	1	why	why	SCONJ
cblr-7808	139	2	would	would	AUX
cblr-7808	139	3	managers	manager	NOUN
cblr-7808	139	4	make	make	VERB
cblr-7808	139	5	such	such	ADJ
cblr-7808	139	6	value	value	NOUN
cblr-7808	139	7	-	-	PUNCT
cblr-7808	139	8	decreasing	decrease	VERB
cblr-7808	139	9	decisions	decision	NOUN
cblr-7808	139	10	that	that	PRON
cblr-7808	139	11	investors	investor	NOUN
cblr-7808	139	12	have	have	VERB
cblr-7808	139	13	no	no	DET
cblr-7808	139	14	reason	reason	NOUN
cblr-7808	139	15	to	to	AUX
cblr-7808	139	16	favor	favor	VERB
cblr-7808	139	17	?	?	PUNCT
cblr-7808	140	1	there	there	PRON
cblr-7808	140	2	are	be	VERB
cblr-7808	140	3	a	a	DET
cblr-7808	140	4	few	few	ADJ
cblr-7808	140	5	possible	possible	ADJ
cblr-7808	140	6	explanations	explanation	NOUN
cblr-7808	140	7	.	.	PUNCT
cblr-7808	141	1	the	the	DET
cblr-7808	141	2	first	first	ADJ
cblr-7808	141	3	is	be	AUX
cblr-7808	141	4	that	that	SCONJ
cblr-7808	141	5	managers	manager	NOUN
cblr-7808	141	6	,	,	PUNCT
cblr-7808	141	7	at	at	ADP
cblr-7808	141	8	the	the	DET
cblr-7808	141	9	expense	expense	NOUN
cblr-7808	141	10	of	of	ADP
cblr-7808	141	11	other	other	ADJ
cblr-7808	141	12	investors	investor	NOUN
cblr-7808	141	13	,	,	PUNCT
cblr-7808	141	14	derive	derive	VERB
cblr-7808	141	15	some	some	DET
cblr-7808	141	16	private	private	ADJ
cblr-7808	141	17	benefits	benefit	NOUN
cblr-7808	141	18	from	from	ADP
cblr-7808	141	19	this	this	DET
cblr-7808	141	20	strategy	strategy	NOUN
cblr-7808	141	21	.	.	PUNCT
cblr-7808	142	1	i	i	PRON
cblr-7808	142	2	address	address	VERB
cblr-7808	142	3	this	this	DET
cblr-7808	142	4	suggestion	suggestion	NOUN
cblr-7808	142	5	in	in	ADP
cblr-7808	142	6	the	the	DET
cblr-7808	142	7	next	next	ADJ
cblr-7808	142	8	part.29	part.29	NOUN
cblr-7808	142	9	the	the	DET
cblr-7808	142	10	second	second	ADJ
cblr-7808	142	11	explanation	explanation	NOUN
cblr-7808	142	12	,	,	PUNCT
cblr-7808	142	13	offered	offer	VERB
cblr-7808	142	14	by	by	ADP
cblr-7808	142	15	barzuza	barzuza	NOUN
cblr-7808	142	16	and	and	CCONJ
cblr-7808	142	17	talley	talley	NOUN
cblr-7808	142	18	,	,	PUNCT
cblr-7808	142	19	is	be	AUX
cblr-7808	142	20	that	that	SCONJ
cblr-7808	142	21	managers	manager	NOUN
cblr-7808	142	22	“	"	PUNCT
cblr-7808	142	23	genuinely	genuinely	ADV
cblr-7808	142	24	(	(	PUNCT
cblr-7808	142	25	but	but	CCONJ
cblr-7808	142	26	mistakenly	mistakenly	ADV
cblr-7808	142	27	)	)	PUNCT
cblr-7808	142	28	believe	believe	VERB
cblr-7808	142	29	in	in	ADP
cblr-7808	142	30	the	the	DET
cblr-7808	142	31	quality	quality	NOUN
cblr-7808	142	32	of	of	ADP
cblr-7808	142	33	their	their	PRON
cblr-7808	142	34	long	long	ADJ
cblr-7808	142	35	-	-	PUNCT
cblr-7808	142	36	term	term	NOUN
cblr-7808	142	37	investment	investment	NOUN
cblr-7808	142	38	[	[	X
cblr-7808	142	39	]	]	X
cblr-7808	142	40	”	"	PUNCT
cblr-7808	142	41	decisions.30	decisions.30	VERB
cblr-7808	142	42	these	these	DET
cblr-7808	142	43	genuine	genuine	ADJ
cblr-7808	142	44	mistakes	mistake	NOUN
cblr-7808	142	45	could	could	AUX
cblr-7808	142	46	be	be	AUX
cblr-7808	142	47	costly	costly	ADJ
cblr-7808	142	48	not	not	PART
cblr-7808	142	49	only	only	ADV
cblr-7808	142	50	for	for	ADP
cblr-7808	142	51	investors	investor	NOUN
cblr-7808	142	52	but	but	CCONJ
cblr-7808	142	53	also	also	ADV
cblr-7808	142	54	for	for	ADP
cblr-7808	142	55	corporate	corporate	ADJ
cblr-7808	142	56	managers	manager	NOUN
cblr-7808	142	57	.	.	PUNCT
cblr-7808	143	1	managers	manager	NOUN
cblr-7808	143	2	who	who	PRON
cblr-7808	143	3	have	have	VERB
cblr-7808	143	4	a	a	DET
cblr-7808	143	5	systematic	systematic	ADJ
cblr-7808	143	6	tendency	tendency	NOUN
cblr-7808	143	7	to	to	PART
cblr-7808	143	8	choose	choose	VERB
cblr-7808	143	9	long	long	ADJ
cblr-7808	143	10	-	-	PUNCT
cblr-7808	143	11	term	term	NOUN
cblr-7808	143	12	endeavors	endeavor	NOUN
cblr-7808	143	13	with	with	ADP
cblr-7808	143	14	inferior	inferior	ADJ
cblr-7808	143	15	returns	return	NOUN
cblr-7808	143	16	could	could	AUX
cblr-7808	143	17	suffer	suffer	VERB
cblr-7808	143	18	significant	significant	ADJ
cblr-7808	143	19	economic	economic	ADJ
cblr-7808	143	20	losses	loss	NOUN
cblr-7808	143	21	in	in	ADP
cblr-7808	143	22	the	the	DET
cblr-7808	143	23	form	form	NOUN
cblr-7808	143	24	of	of	ADP
cblr-7808	143	25	low	low	ADJ
cblr-7808	143	26	compensation	compensation	NOUN
cblr-7808	143	27	,	,	PUNCT
cblr-7808	143	28	high	high	ADJ
cblr-7808	143	29	risk	risk	NOUN
cblr-7808	143	30	of	of	ADP
cblr-7808	143	31	early	early	ADJ
cblr-7808	143	32	termination	termination	NOUN
cblr-7808	143	33	,	,	PUNCT
cblr-7808	143	34	a	a	DET
cblr-7808	143	35	decline	decline	NOUN
cblr-7808	143	36	in	in	ADP
cblr-7808	143	37	their	their	PRON
cblr-7808	143	38	company	company	NOUN
cblr-7808	143	39	’s	’s	PART
cblr-7808	143	40	share	share	NOUN
cblr-7808	143	41	price	price	NOUN
cblr-7808	143	42	,	,	PUNCT
cblr-7808	143	43	and	and	CCONJ
cblr-7808	143	44	reputational	reputational	ADJ
cblr-7808	143	45	damages.31	damages.31	NOUN
cblr-7808	143	46	they	they	PRON
cblr-7808	143	47	also	also	ADV
cblr-7808	143	48	could	could	AUX
cblr-7808	143	49	be	be	AUX
cblr-7808	143	50	subject	subject	ADJ
cblr-7808	143	51	to	to	ADP
cblr-7808	143	52	interventions	intervention	NOUN
cblr-7808	143	53	by	by	ADP
cblr-7808	143	54	activist	activist	ADJ
cblr-7808	143	55	hedge	hedge	NOUN
cblr-7808	143	56	funds	fund	NOUN
cblr-7808	143	57	,	,	PUNCT
cblr-7808	143	58	as	as	SCONJ
cblr-7808	143	59	shown	show	VERB
cblr-7808	143	60	by	by	ADP
cblr-7808	143	61	barzuza	barzuza	NOUN
cblr-7808	143	62	and	and	CCONJ
cblr-7808	143	63	talley.32	talley.32	VERB
cblr-7808	143	64	27	27	NUM
cblr-7808	144	1	i	i	PROPN
cblr-7808	144	2	d.	d.	PROPN
cblr-7808	144	3	28	28	NUM
cblr-7808	145	1	i	i	PRON
cblr-7808	145	2	d.	d.	PROPN
cblr-7808	145	3	at	at	ADP
cblr-7808	145	4	135	135	NUM
cblr-7808	145	5	tbl.1	tbl.1	PRON
cblr-7808	145	6	.	.	PUNCT
cblr-7808	146	1	29	29	NUM
cblr-7808	146	2	see	see	VERB
cblr-7808	146	3	infra	infra	NOUN
cblr-7808	146	4	part	part	PROPN
cblr-7808	146	5	iii	iii	PROPN
cblr-7808	146	6	.	.	PROPN
cblr-7808	146	7	30	30	NUM
cblr-7808	146	8	barzuza	barzuza	PROPN
cblr-7808	146	9	&	&	CCONJ
cblr-7808	146	10	talley	talley	PROPN
cblr-7808	146	11	,	,	PUNCT
cblr-7808	146	12	supra	supra	PROPN
cblr-7808	146	13	note	note	PROPN
cblr-7808	146	14	6	6	NUM
cblr-7808	146	15	,	,	PUNCT
cblr-7808	146	16	at	at	ADP
cblr-7808	146	17	177	177	NUM
cblr-7808	146	18	.	.	PUNCT
cblr-7808	146	19	31	31	NUM
cblr-7808	146	20	for	for	ADP
cblr-7808	146	21	a	a	DET
cblr-7808	146	22	discussion	discussion	NOUN
cblr-7808	146	23	of	of	ADP
cblr-7808	146	24	each	each	PRON
cblr-7808	146	25	of	of	ADP
cblr-7808	146	26	these	these	DET
cblr-7808	146	27	mitigating	mitigate	VERB
cblr-7808	146	28	factors	factor	NOUN
cblr-7808	146	29	and	and	CCONJ
cblr-7808	146	30	their	their	PRON
cblr-7808	146	31	impact	impact	NOUN
cblr-7808	146	32	,	,	PUNCT
cblr-7808	146	33	see	see	VERB
cblr-7808	146	34	infra	infra	NOUN
cblr-7808	146	35	section	section	NOUN
cblr-7808	146	36	ii.b	ii.b	NOUN
cblr-7808	146	37	.	.	PUNCT
cblr-7808	147	1	32	32	NUM
cblr-7808	147	2	see	see	VERB
cblr-7808	147	3	barzuza	barzuza	NOUN
cblr-7808	147	4	&	&	CCONJ
cblr-7808	147	5	talley	talley	PROPN
cblr-7808	147	6	,	,	PUNCT
cblr-7808	147	7	supra	supra	NOUN
cblr-7808	147	8	6	6	NUM
cblr-7808	147	9	,	,	PUNCT
cblr-7808	147	10	at	at	ADP
cblr-7808	147	11	156–72	156–72	PROPN
cblr-7808	147	12	(	(	PUNCT
cblr-7808	147	13	describing	describe	VERB
cblr-7808	147	14	examples	example	NOUN
cblr-7808	147	15	of	of	ADP
cblr-7808	147	16	such	such	ADJ
cblr-7808	147	17	interventions	intervention	NOUN
cblr-7808	147	18	)	)	PUNCT
cblr-7808	147	19	.	.	PUNCT
cblr-7808	148	1	kastiel	kastiel	PROPN
cblr-7808	148	2	(	(	PUNCT
cblr-7808	148	3	comment	comment	NOUN
cblr-7808	148	4	)	)	PUNCT
cblr-7808	148	5	1/15/2021	1/15/2021	NUM
cblr-7808	148	6	2:38	2:38	NUM
cblr-7808	148	7	pm	pm	NOUN
cblr-7808	148	8	no	no	INTJ
cblr-7808	148	9	.	.	PUNCT
cblr-7808	149	1	3:834	3:834	NUM
cblr-7808	149	2	]	]	X
cblr-7808	149	3	long	long	ADJ
cblr-7808	149	4	-	-	PUNCT
cblr-7808	149	5	term	term	NOUN
cblr-7808	149	6	bias	bias	NOUN
cblr-7808	149	7	,	,	PUNCT
cblr-7808	149	8	incentives	incentive	NOUN
cblr-7808	149	9	,	,	PUNCT
cblr-7808	149	10	and	and	CCONJ
cblr-7808	149	11	agency	agency	NOUN
cblr-7808	149	12	costs	cost	VERB
cblr-7808	149	13	843	843	NUM
cblr-7808	149	14	as	as	ADP
cblr-7808	149	15	financial	financial	ADJ
cblr-7808	149	16	economists	economist	NOUN
cblr-7808	149	17	and	and	CCONJ
cblr-7808	149	18	corporate	corporate	ADJ
cblr-7808	149	19	governance	governance	NOUN
cblr-7808	149	20	scholars	scholar	NOUN
cblr-7808	149	21	have	have	AUX
cblr-7808	149	22	long	long	ADV
cblr-7808	149	23	taught	teach	VERB
cblr-7808	149	24	,	,	PUNCT
cblr-7808	149	25	incentives	incentive	VERB
cblr-7808	149	26	matter.33	matter.33	PROPN
cblr-7808	149	27	therefore	therefore	ADV
cblr-7808	149	28	,	,	PUNCT
cblr-7808	149	29	at	at	ADP
cblr-7808	149	30	least	least	ADJ
cblr-7808	149	31	in	in	ADP
cblr-7808	149	32	theory	theory	NOUN
cblr-7808	149	33	,	,	PUNCT
cblr-7808	149	34	we	we	PRON
cblr-7808	149	35	would	would	AUX
cblr-7808	149	36	assume	assume	VERB
cblr-7808	149	37	that	that	SCONJ
cblr-7808	149	38	when	when	SCONJ
cblr-7808	149	39	financial	financial	ADJ
cblr-7808	149	40	rewards	reward	NOUN
cblr-7808	149	41	are	be	AUX
cblr-7808	149	42	high	high	ADJ
cblr-7808	149	43	,	,	PUNCT
cblr-7808	149	44	the	the	DET
cblr-7808	149	45	average	average	ADJ
cblr-7808	149	46	ceo	ceo	NOUN
cblr-7808	149	47	has	have	VERB
cblr-7808	149	48	strong	strong	ADJ
cblr-7808	149	49	incentives	incentive	NOUN
cblr-7808	149	50	to	to	PART
cblr-7808	149	51	be	be	AUX
cblr-7808	149	52	attentive	attentive	ADJ
cblr-7808	149	53	to	to	ADP
cblr-7808	149	54	negative	negative	ADJ
cblr-7808	149	55	signals	signal	NOUN
cblr-7808	149	56	and	and	CCONJ
cblr-7808	149	57	avoid	avoid	VERB
cblr-7808	149	58	inferior	inferior	ADJ
cblr-7808	149	59	long	long	ADJ
cblr-7808	149	60	-	-	PUNCT
cblr-7808	149	61	term	term	NOUN
cblr-7808	149	62	investments	investment	NOUN
cblr-7808	149	63	:	:	PUNCT
cblr-7808	149	64	they	they	PRON
cblr-7808	149	65	do	do	AUX
cblr-7808	149	66	not	not	PART
cblr-7808	149	67	want	want	VERB
cblr-7808	149	68	to	to	PART
cblr-7808	149	69	lose	lose	VERB
cblr-7808	149	70	their	their	PRON
cblr-7808	149	71	position	position	NOUN
cblr-7808	149	72	or	or	CCONJ
cblr-7808	149	73	suffer	suffer	VERB
cblr-7808	149	74	financial	financial	ADJ
cblr-7808	149	75	losses	loss	NOUN
cblr-7808	149	76	.	.	PUNCT
cblr-7808	150	1	the	the	DET
cblr-7808	150	2	interesting	interesting	ADJ
cblr-7808	150	3	question	question	NOUN
cblr-7808	150	4	,	,	PUNCT
cblr-7808	150	5	therefore	therefore	ADV
cblr-7808	150	6	,	,	PUNCT
cblr-7808	150	7	is	be	AUX
cblr-7808	150	8	not	not	PART
cblr-7808	150	9	whether	whether	SCONJ
cblr-7808	150	10	managers	manager	NOUN
cblr-7808	150	11	may	may	AUX
cblr-7808	150	12	be	be	AUX
cblr-7808	150	13	subject	subject	ADJ
cblr-7808	150	14	to	to	ADP
cblr-7808	150	15	systemic	systemic	ADJ
cblr-7808	150	16	biases	bias	NOUN
cblr-7808	150	17	that	that	PRON
cblr-7808	150	18	have	have	VERB
cblr-7808	150	19	a	a	DET
cblr-7808	150	20	negative	negative	ADJ
cblr-7808	150	21	impact	impact	NOUN
cblr-7808	150	22	on	on	ADP
cblr-7808	150	23	their	their	PRON
cblr-7808	150	24	long	long	ADJ
cblr-7808	150	25	-	-	PUNCT
cblr-7808	150	26	term	term	NOUN
cblr-7808	150	27	decisionmaking	decisionmaking	NOUN
cblr-7808	150	28	(	(	PUNCT
cblr-7808	150	29	they	they	PRON
cblr-7808	150	30	probably	probably	ADV
cblr-7808	150	31	are	be	AUX
cblr-7808	150	32	)	)	PUNCT
cblr-7808	151	1	but	but	CCONJ
cblr-7808	151	2	rather	rather	ADV
cblr-7808	151	3	what	what	PRON
cblr-7808	151	4	happens	happen	VERB
cblr-7808	151	5	to	to	ADP
cblr-7808	151	6	their	their	PRON
cblr-7808	151	7	confidence	confidence	NOUN
cblr-7808	151	8	and	and	CCONJ
cblr-7808	151	9	accuracy	accuracy	NOUN
cblr-7808	151	10	when	when	SCONJ
cblr-7808	151	11	financial	financial	ADJ
cblr-7808	151	12	incentives	incentive	NOUN
cblr-7808	151	13	and	and	CCONJ
cblr-7808	151	14	behavioral	behavioral	ADJ
cblr-7808	151	15	biases	bias	NOUN
cblr-7808	151	16	interact	interact	VERB
cblr-7808	151	17	.	.	PUNCT
cblr-7808	152	1	how	how	SCONJ
cblr-7808	152	2	could	could	AUX
cblr-7808	152	3	proper	proper	ADJ
cblr-7808	152	4	incentives	incentive	NOUN
cblr-7808	152	5	influence	influence	NOUN
cblr-7808	152	6	confidence	confidence	NOUN
cblr-7808	152	7	?	?	PUNCT
cblr-7808	153	1	would	would	AUX
cblr-7808	153	2	they	they	PRON
cblr-7808	153	3	elicit	elicit	VERB
cblr-7808	153	4	less	less	ADJ
cblr-7808	153	5	bias	bias	NOUN
cblr-7808	153	6	and	and	CCONJ
cblr-7808	153	7	more	more	ADV
cblr-7808	153	8	sensitive	sensitive	ADJ
cblr-7808	153	9	and	and	CCONJ
cblr-7808	153	10	accurate	accurate	ADJ
cblr-7808	153	11	judgments	judgment	NOUN
cblr-7808	153	12	?	?	PUNCT
cblr-7808	154	1	would	would	AUX
cblr-7808	154	2	the	the	DET
cblr-7808	154	3	magnitude	magnitude	NOUN
cblr-7808	154	4	or	or	CCONJ
cblr-7808	154	5	valence	valence	NOUN
cblr-7808	154	6	of	of	ADP
cblr-7808	154	7	the	the	DET
cblr-7808	154	8	incentives	incentive	NOUN
cblr-7808	154	9	—	—	PUNCT
cblr-7808	154	10	that	that	ADV
cblr-7808	154	11	is	is	ADV
cblr-7808	154	12	,	,	PUNCT
cblr-7808	154	13	the	the	DET
cblr-7808	154	14	prospect	prospect	NOUN
cblr-7808	154	15	of	of	ADP
cblr-7808	154	16	losses	loss	NOUN
cblr-7808	154	17	or	or	CCONJ
cblr-7808	154	18	gains	gain	NOUN
cblr-7808	154	19	—	—	PUNCT
cblr-7808	154	20	have	have	VERB
cblr-7808	154	21	an	an	DET
cblr-7808	154	22	influence	influence	NOUN
cblr-7808	154	23	?	?	PUNCT
cblr-7808	155	1	and	and	CCONJ
cblr-7808	155	2	what	what	DET
cblr-7808	155	3	fraction	fraction	NOUN
cblr-7808	155	4	of	of	ADP
cblr-7808	155	5	managers	manager	NOUN
cblr-7808	155	6	will	will	AUX
cblr-7808	155	7	remain	remain	VERB
cblr-7808	155	8	indifferent	indifferent	ADJ
cblr-7808	155	9	or	or	CCONJ
cblr-7808	155	10	even	even	ADV
cblr-7808	155	11	increase	increase	VERB
cblr-7808	155	12	their	their	PRON
cblr-7808	155	13	overconfidence	overconfidence	NOUN
cblr-7808	155	14	despite	despite	SCONJ
cblr-7808	155	15	large	large	ADJ
cblr-7808	155	16	countervailing	countervailing	ADJ
cblr-7808	155	17	monetary	monetary	ADJ
cblr-7808	155	18	incentives	incentive	NOUN
cblr-7808	155	19	?	?	PUNCT
cblr-7808	156	1	empirical	empirical	ADJ
cblr-7808	156	2	studies	study	NOUN
cblr-7808	156	3	in	in	ADP
cblr-7808	156	4	behavioral	behavioral	ADJ
cblr-7808	156	5	psychology	psychology	NOUN
cblr-7808	156	6	have	have	AUX
cblr-7808	156	7	investigated	investigate	VERB
cblr-7808	156	8	methodically	methodically	ADV
cblr-7808	156	9	the	the	DET
cblr-7808	156	10	interactions	interaction	NOUN
cblr-7808	156	11	between	between	ADP
cblr-7808	156	12	incentives	incentive	NOUN
cblr-7808	156	13	and	and	CCONJ
cblr-7808	156	14	confidence	confidence	NOUN
cblr-7808	156	15	.	.	PUNCT
cblr-7808	157	1	some	some	PRON
cblr-7808	157	2	of	of	ADP
cblr-7808	157	3	these	these	DET
cblr-7808	157	4	studies	study	NOUN
cblr-7808	157	5	have	have	AUX
cblr-7808	157	6	found	find	VERB
cblr-7808	157	7	that	that	SCONJ
cblr-7808	157	8	incentives	incentive	NOUN
cblr-7808	157	9	increase	increase	VERB
cblr-7808	157	10	the	the	DET
cblr-7808	157	11	precision	precision	NOUN
cblr-7808	157	12	of	of	ADP
cblr-7808	157	13	a	a	DET
cblr-7808	157	14	person	person	NOUN
cblr-7808	157	15	’s	’s	PART
cblr-7808	157	16	estimations	estimation	NOUN
cblr-7808	157	17	.	.	PUNCT
cblr-7808	158	1	for	for	ADP
cblr-7808	158	2	example	example	NOUN
cblr-7808	158	3	,	,	PUNCT
cblr-7808	158	4	a	a	DET
cblr-7808	158	5	study	study	NOUN
cblr-7808	158	6	by	by	ADP
cblr-7808	158	7	kritzan	kritzan	NOUN
cblr-7808	158	8	and	and	CCONJ
cblr-7808	158	9	windschitl	windschitl	NOUN
cblr-7808	158	10	discusses	discuss	VERB
cblr-7808	158	11	possible	possible	ADJ
cblr-7808	158	12	factors	factor	NOUN
cblr-7808	158	13	mitigating	mitigate	VERB
cblr-7808	158	14	over	over	ADP
cblr-7808	158	15	-	-	PUNCT
cblr-7808	158	16	optimism.34	optimism.34	NOUN
cblr-7808	158	17	they	they	PRON
cblr-7808	158	18	provide	provide	VERB
cblr-7808	158	19	an	an	DET
cblr-7808	158	20	example	example	NOUN
cblr-7808	158	21	of	of	ADP
cblr-7808	158	22	a	a	DET
cblr-7808	158	23	person	person	NOUN
cblr-7808	158	24	who	who	PRON
cblr-7808	158	25	will	will	AUX
cblr-7808	158	26	receive	receive	VERB
cblr-7808	158	27	$	$	SYM
cblr-7808	158	28	1,000	1,000	NUM
cblr-7808	158	29	if	if	SCONJ
cblr-7808	158	30	company	company	NOUN
cblr-7808	158	31	a	a	PRON
cblr-7808	158	32	receives	receive	VERB
cblr-7808	158	33	a	a	DET
cblr-7808	158	34	contract	contract	NOUN
cblr-7808	158	35	.	.	PUNCT
cblr-7808	159	1	that	that	DET
cblr-7808	159	2	person	person	NOUN
cblr-7808	159	3	,	,	PUNCT
cblr-7808	159	4	they	they	PRON
cblr-7808	159	5	argue	argue	VERB
cblr-7808	159	6	,	,	PUNCT
cblr-7808	159	7	will	will	AUX
cblr-7808	159	8	be	be	AUX
cblr-7808	159	9	more	more	ADV
cblr-7808	159	10	sensitive	sensitive	ADJ
cblr-7808	159	11	to	to	ADP
cblr-7808	159	12	negative	negative	ADJ
cblr-7808	159	13	information	information	NOUN
cblr-7808	159	14	about	about	ADP
cblr-7808	159	15	company	company	NOUN
cblr-7808	159	16	a	a	PRON
cblr-7808	159	17	than	than	SCONJ
cblr-7808	159	18	they	they	PRON
cblr-7808	159	19	would	would	AUX
cblr-7808	159	20	be	be	AUX
cblr-7808	159	21	if	if	SCONJ
cblr-7808	159	22	no	no	DET
cblr-7808	159	23	money	money	NOUN
cblr-7808	159	24	were	be	AUX
cblr-7808	159	25	at	at	ADP
cblr-7808	159	26	stake.35	stake.35	NOUN
cblr-7808	159	27	33	33	NUM
cblr-7808	159	28	for	for	ADP
cblr-7808	159	29	discussions	discussion	NOUN
cblr-7808	159	30	of	of	ADP
cblr-7808	159	31	the	the	DET
cblr-7808	159	32	effect	effect	NOUN
cblr-7808	159	33	of	of	ADP
cblr-7808	159	34	incentives	incentive	NOUN
cblr-7808	159	35	on	on	ADP
cblr-7808	159	36	managerial	managerial	ADJ
cblr-7808	159	37	decisionmaking	decisionmaking	NOUN
cblr-7808	159	38	,	,	PUNCT
cblr-7808	159	39	see	see	VERB
cblr-7808	159	40	,	,	PUNCT
cblr-7808	159	41	e.g.	e.g.	ADV
cblr-7808	159	42	,	,	PUNCT
cblr-7808	159	43	generally	generally	ADV
cblr-7808	159	44	michael	michael	PROPN
cblr-7808	159	45	c.	c.	PROPN
cblr-7808	159	46	jensen	jensen	PROPN
cblr-7808	159	47	&	&	CCONJ
cblr-7808	159	48	william	william	PROPN
cblr-7808	159	49	h.	h.	PROPN
cblr-7808	159	50	meckling	meckling	PROPN
cblr-7808	159	51	,	,	PUNCT
cblr-7808	159	52	theory	theory	NOUN
cblr-7808	159	53	of	of	ADP
cblr-7808	159	54	the	the	DET
cblr-7808	159	55	firm	firm	NOUN
cblr-7808	159	56	:	:	PUNCT
cblr-7808	159	57	managerial	managerial	ADJ
cblr-7808	159	58	behavior	behavior	NOUN
cblr-7808	159	59	,	,	PUNCT
cblr-7808	159	60	agency	agency	NOUN
cblr-7808	159	61	costs	cost	NOUN
cblr-7808	159	62	and	and	CCONJ
cblr-7808	159	63	ownership	ownership	NOUN
cblr-7808	159	64	structure	structure	NOUN
cblr-7808	159	65	,	,	PUNCT
cblr-7808	159	66	3	3	NUM
cblr-7808	159	67	j.	j.	PROPN
cblr-7808	159	68	fin	fin	PROPN
cblr-7808	159	69	.	.	PUNCT
cblr-7808	159	70	econ	econ	PROPN
cblr-7808	159	71	.	.	PUNCT
cblr-7808	160	1	305	305	NUM
cblr-7808	160	2	(	(	PUNCT
cblr-7808	160	3	1976	1976	NUM
cblr-7808	160	4	)	)	PUNCT
cblr-7808	160	5	;	;	PUNCT
cblr-7808	160	6	lucian	lucian	PROPN
cblr-7808	160	7	bebchuk	bebchuk	PROPN
cblr-7808	160	8	&	&	CCONJ
cblr-7808	160	9	jesse	jesse	PROPN
cblr-7808	160	10	fried	fried	PROPN
cblr-7808	160	11	,	,	PUNCT
cblr-7808	160	12	pay	pay	VERB
cblr-7808	160	13	without	without	ADP
cblr-7808	160	14	performance	performance	NOUN
cblr-7808	160	15	:	:	PUNCT
cblr-7808	160	16	the	the	DET
cblr-7808	160	17	unfulfilled	unfulfilled	ADJ
cblr-7808	160	18	promise	promise	NOUN
cblr-7808	160	19	of	of	ADP
cblr-7808	160	20	executive	executive	ADJ
cblr-7808	160	21	compensation	compensation	NOUN
cblr-7808	160	22	(	(	PUNCT
cblr-7808	160	23	2004	2004	NUM
cblr-7808	160	24	)	)	PUNCT
cblr-7808	160	25	(	(	PUNCT
cblr-7808	160	26	discussing	discuss	VERB
cblr-7808	160	27	the	the	DET
cblr-7808	160	28	effect	effect	NOUN
cblr-7808	160	29	of	of	ADP
cblr-7808	160	30	incentives	incentive	NOUN
cblr-7808	160	31	in	in	ADP
cblr-7808	160	32	the	the	DET
cblr-7808	160	33	context	context	NOUN
cblr-7808	160	34	of	of	ADP
cblr-7808	160	35	executive	executive	ADJ
cblr-7808	160	36	pay	pay	NOUN
cblr-7808	160	37	)	)	PUNCT
cblr-7808	160	38	.	.	PUNCT
cblr-7808	161	1	34	34	NUM
cblr-7808	161	2	zlatan	zlatan	PROPN
cblr-7808	161	3	krizan	krizan	PROPN
cblr-7808	161	4	&	&	CCONJ
cblr-7808	161	5	paul	paul	PROPN
cblr-7808	161	6	d.	d.	PROPN
cblr-7808	161	7	windschitl	windschitl	PROPN
cblr-7808	161	8	,	,	PUNCT
cblr-7808	161	9	the	the	DET
cblr-7808	161	10	influence	influence	NOUN
cblr-7808	161	11	of	of	ADP
cblr-7808	161	12	outcome	outcome	NOUN
cblr-7808	161	13	desirability	desirability	NOUN
cblr-7808	161	14	on	on	ADP
cblr-7808	161	15	optimism	optimism	NOUN
cblr-7808	161	16	,	,	PUNCT
cblr-7808	161	17	133	133	NUM
cblr-7808	161	18	psych	psych	NOUN
cblr-7808	161	19	.	.	PUNCT
cblr-7808	162	1	bull	bull	NOUN
cblr-7808	162	2	.	.	PUNCT
cblr-7808	163	1	95	95	NUM
cblr-7808	163	2	,	,	PUNCT
cblr-7808	163	3	106–12	106–12	NUM
cblr-7808	163	4	(	(	PUNCT
cblr-7808	163	5	2007	2007	NUM
cblr-7808	163	6	)	)	PUNCT
cblr-7808	163	7	.	.	PUNCT
cblr-7808	164	1	35	35	NUM
cblr-7808	164	2	see	see	VERB
cblr-7808	164	3	i	i	PRON
cblr-7808	164	4	d.	d.	PROPN
cblr-7808	164	5	at	at	ADP
cblr-7808	164	6	108	108	NUM
cblr-7808	164	7	.	.	PUNCT
cblr-7808	165	1	kastiel	kastiel	NOUN
cblr-7808	165	2	(	(	PUNCT
cblr-7808	165	3	comment	comment	NOUN
cblr-7808	165	4	)	)	PUNCT
cblr-7808	165	5	1/15/2021	1/15/2021	NUM
cblr-7808	165	6	2:38	2:38	NUM
cblr-7808	165	7	pm	pm	NOUN
cblr-7808	165	8	844	844	NUM
cblr-7808	165	9	columbia	columbia	PROPN
cblr-7808	165	10	business	business	NOUN
cblr-7808	165	11	law	law	PROPN
cblr-7808	165	12	review	review	NOUN
cblr-7808	165	13	[	[	X
cblr-7808	165	14	vol	vol	NOUN
cblr-7808	165	15	.	.	PUNCT
cblr-7808	165	16	2020	2020	NUM
cblr-7808	166	1	another	another	DET
cblr-7808	166	2	study	study	NOUN
cblr-7808	166	3	examined	examine	VERB
cblr-7808	166	4	the	the	DET
cblr-7808	166	5	way	way	NOUN
cblr-7808	166	6	incentives	incentive	NOUN
cblr-7808	166	7	can	can	AUX
cblr-7808	166	8	mitigate	mitigate	VERB
cblr-7808	166	9	students	student	NOUN
cblr-7808	166	10	’	'	PUNCT
cblr-7808	166	11	overconfidence	overconfidence	NOUN
cblr-7808	166	12	when	when	SCONJ
cblr-7808	166	13	they	they	PRON
cblr-7808	166	14	try	try	VERB
cblr-7808	166	15	to	to	PART
cblr-7808	166	16	predict	predict	VERB
cblr-7808	166	17	their	their	PRON
cblr-7808	166	18	grades.36	grades.36	NOUN
cblr-7808	166	19	believing	believing	NOUN
cblr-7808	166	20	that	that	SCONJ
cblr-7808	166	21	incentives	incentive	NOUN
cblr-7808	166	22	might	might	AUX
cblr-7808	166	23	motivate	motivate	VERB
cblr-7808	166	24	students	student	NOUN
cblr-7808	166	25	to	to	PART
cblr-7808	166	26	be	be	AUX
cblr-7808	166	27	more	more	ADV
cblr-7808	166	28	realistic	realistic	ADJ
cblr-7808	166	29	in	in	ADP
cblr-7808	166	30	their	their	PRON
cblr-7808	166	31	self	self	NOUN
cblr-7808	166	32	-	-	PUNCT
cblr-7808	166	33	assessments	assessment	NOUN
cblr-7808	166	34	,	,	PUNCT
cblr-7808	166	35	a	a	DET
cblr-7808	166	36	researcherinstructor	researcherinstructor	NOUN
cblr-7808	166	37	offered	offer	VERB
cblr-7808	166	38	students	student	NOUN
cblr-7808	166	39	extra	extra	ADJ
cblr-7808	166	40	credit	credit	NOUN
cblr-7808	166	41	if	if	SCONJ
cblr-7808	166	42	they	they	PRON
cblr-7808	166	43	accurately	accurately	ADV
cblr-7808	166	44	forecasted	forecast	VERB
cblr-7808	166	45	the	the	DET
cblr-7808	166	46	number	number	NOUN
cblr-7808	166	47	of	of	ADP
cblr-7808	166	48	multiple	multiple	ADJ
cblr-7808	166	49	-	-	PUNCT
cblr-7808	166	50	choice	choice	NOUN
cblr-7808	166	51	questions	question	NOUN
cblr-7808	166	52	they	they	PRON
cblr-7808	166	53	would	would	AUX
cblr-7808	166	54	answer	answer	VERB
cblr-7808	166	55	correctly	correctly	ADV
cblr-7808	166	56	on	on	ADP
cblr-7808	166	57	an	an	DET
cblr-7808	166	58	upcoming	upcoming	ADJ
cblr-7808	166	59	exam.37	exam.37	NOUN
cblr-7808	166	60	the	the	DET
cblr-7808	166	61	study	study	NOUN
cblr-7808	166	62	found	find	VERB
cblr-7808	166	63	that	that	SCONJ
cblr-7808	166	64	“	"	PUNCT
cblr-7808	166	65	[	[	X
cblr-7808	166	66	g]enerally	g]enerally	ADV
cblr-7808	166	67	,	,	PUNCT
cblr-7808	166	68	the	the	DET
cblr-7808	166	69	incentive	incentive	NOUN
cblr-7808	166	70	scheme	scheme	NOUN
cblr-7808	166	71	result[ed	result[ed	PROPN
cblr-7808	166	72	]	]	PUNCT
cblr-7808	166	73	in	in	ADP
cblr-7808	166	74	fewer	few	ADJ
cblr-7808	166	75	extreme	extreme	ADJ
cblr-7808	166	76	forecast	forecast	NOUN
cblr-7808	166	77	errors	error	NOUN
cblr-7808	166	78	for	for	ADP
cblr-7808	166	79	most	most	ADJ
cblr-7808	166	80	groups	group	NOUN
cblr-7808	166	81	of	of	ADP
cblr-7808	166	82	students	student	NOUN
cblr-7808	166	83	.	.	PUNCT
cblr-7808	167	1	”38	”38	NOUN
cblr-7808	167	2	supporting	support	VERB
cblr-7808	167	3	these	these	DET
cblr-7808	167	4	results	result	NOUN
cblr-7808	167	5	,	,	PUNCT
cblr-7808	167	6	a	a	DET
cblr-7808	167	7	third	third	ADJ
cblr-7808	167	8	study	study	NOUN
cblr-7808	167	9	found	find	VERB
cblr-7808	167	10	that	that	SCONJ
cblr-7808	167	11	real	real	ADJ
cblr-7808	167	12	monetary	monetary	ADJ
cblr-7808	167	13	incentives	incentive	NOUN
cblr-7808	167	14	(	(	PUNCT
cblr-7808	167	15	rather	rather	ADV
cblr-7808	167	16	than	than	ADP
cblr-7808	167	17	extra	extra	ADJ
cblr-7808	167	18	credit	credit	NOUN
cblr-7808	167	19	)	)	PUNCT
cblr-7808	167	20	also	also	ADV
cblr-7808	167	21	“	"	PUNCT
cblr-7808	167	22	mitigate	mitigate	VERB
cblr-7808	167	23	overestimation	overestimation	NOUN
cblr-7808	167	24	of	of	ADP
cblr-7808	167	25	potential	potential	ADJ
cblr-7808	167	26	achievements	achievement	NOUN
cblr-7808	167	27	and	and	CCONJ
cblr-7808	167	28	eliminate	eliminate	VERB
cblr-7808	167	29	overestimation	overestimation	NOUN
cblr-7808	167	30	of	of	ADP
cblr-7808	167	31	actual	actual	ADJ
cblr-7808	167	32	achievements	achievement	NOUN
cblr-7808	167	33	.	.	PUNCT
cblr-7808	168	1	”39	”39	PROPN
cblr-7808	168	2	finally	finally	ADV
cblr-7808	168	3	,	,	PUNCT
cblr-7808	168	4	camerer	camerer	PROPN
cblr-7808	168	5	and	and	CCONJ
cblr-7808	168	6	hogarth	hogarth	NOUN
cblr-7808	168	7	reviewed	review	VERB
cblr-7808	168	8	74	74	NUM
cblr-7808	168	9	experiments	experiment	NOUN
cblr-7808	168	10	using	use	VERB
cblr-7808	168	11	no	no	DET
cblr-7808	168	12	,	,	PUNCT
cblr-7808	168	13	low	low	ADJ
cblr-7808	168	14	,	,	PUNCT
cblr-7808	168	15	or	or	CCONJ
cblr-7808	168	16	high	high	ADJ
cblr-7808	168	17	performance	performance	NOUN
cblr-7808	168	18	-	-	PUNCT
cblr-7808	168	19	based	base	VERB
cblr-7808	168	20	financial	financial	ADJ
cblr-7808	168	21	incentives	incentive	NOUN
cblr-7808	168	22	and	and	CCONJ
cblr-7808	168	23	found	find	VERB
cblr-7808	168	24	that	that	SCONJ
cblr-7808	168	25	“	"	PUNCT
cblr-7808	168	26	the	the	DET
cblr-7808	168	27	presence	presence	NOUN
cblr-7808	168	28	and	and	CCONJ
cblr-7808	168	29	amount	amount	NOUN
cblr-7808	168	30	of	of	ADP
cblr-7808	168	31	financial	financial	ADJ
cblr-7808	168	32	incentive	incentive	NOUN
cblr-7808	168	33	does	do	AUX
cblr-7808	168	34	seem	seem	VERB
cblr-7808	168	35	to	to	PART
cblr-7808	168	36	affect	affect	VERB
cblr-7808	168	37	average	average	ADJ
cblr-7808	168	38	performance	performance	NOUN
cblr-7808	168	39	in	in	ADP
cblr-7808	168	40	many	many	ADJ
cblr-7808	168	41	tasks	task	NOUN
cblr-7808	168	42	,	,	PUNCT
cblr-7808	168	43	”	"	PUNCT
cblr-7808	168	44	but	but	CCONJ
cblr-7808	168	45	not	not	PART
cblr-7808	168	46	always	always	ADV
cblr-7808	168	47	,	,	PUNCT
cblr-7808	168	48	and	and	CCONJ
cblr-7808	168	49	that	that	SCONJ
cblr-7808	168	50	“	"	PUNCT
cblr-7808	168	51	higher	high	ADJ
cblr-7808	168	52	levels	level	NOUN
cblr-7808	168	53	of	of	ADP
cblr-7808	168	54	incentives	incentive	NOUN
cblr-7808	168	55	have	have	VERB
cblr-7808	168	56	the	the	DET
cblr-7808	168	57	largest	large	ADJ
cblr-7808	168	58	effects	effect	NOUN
cblr-7808	168	59	in	in	ADP
cblr-7808	168	60	judgment	judgment	NOUN
cblr-7808	168	61	and	and	CCONJ
cblr-7808	168	62	decision	decision	NOUN
cblr-7808	168	63	tasks	task	NOUN
cblr-7808	168	64	.	.	PUNCT
cblr-7808	169	1	”40	”40	NOUN
cblr-7808	169	2	36	36	NUM
cblr-7808	169	3	see	see	VERB
cblr-7808	169	4	generally	generally	ADV
cblr-7808	169	5	dennis	dennis	PROPN
cblr-7808	169	6	caplan	caplan	PROPN
cblr-7808	169	7	,	,	PUNCT
cblr-7808	169	8	kristian	kristian	PROPN
cblr-7808	169	9	g.	g.	PROPN
cblr-7808	169	10	mortenson	mortenson	PROPN
cblr-7808	169	11	&	&	CCONJ
cblr-7808	169	12	marisa	marisa	PROPN
cblr-7808	169	13	lester	lester	PROPN
cblr-7808	169	14	,	,	PUNCT
cblr-7808	169	15	can	can	AUX
cblr-7808	169	16	incentives	incentive	VERB
cblr-7808	169	17	mitigate	mitigate	VERB
cblr-7808	169	18	student	student	NOUN
cblr-7808	169	19	overconfidence	overconfidence	NOUN
cblr-7808	169	20	at	at	ADP
cblr-7808	169	21	grade	grade	NOUN
cblr-7808	169	22	forecasts	forecast	NOUN
cblr-7808	169	23	?	?	PUNCT
cblr-7808	169	24	,	,	PUNCT
cblr-7808	169	25	27	27	NUM
cblr-7808	169	26	acct	acct	NOUN
cblr-7808	169	27	.	.	PUNCT
cblr-7808	170	1	educ	educ	PROPN
cblr-7808	170	2	.	.	PUNCT
cblr-7808	171	1	27	27	NUM
cblr-7808	171	2	(	(	PUNCT
cblr-7808	171	3	2018	2018	NUM
cblr-7808	171	4	)	)	PUNCT
cblr-7808	171	5	.	.	PUNCT
cblr-7808	172	1	37	37	NUM
cblr-7808	173	1	i	i	PRON
cblr-7808	173	2	d.	d.	PROPN
cblr-7808	173	3	at	at	ADP
cblr-7808	173	4	33	33	NUM
cblr-7808	173	5	.	.	PUNCT
cblr-7808	174	1	38	38	NUM
cblr-7808	175	1	i	i	PRON
cblr-7808	175	2	d.	d.	PROPN
cblr-7808	175	3	at	at	ADP
cblr-7808	175	4	28	28	NUM
cblr-7808	175	5	.	.	PUNCT
cblr-7808	175	6	39	39	NUM
cblr-7808	175	7	noemí	noemí	ADP
cblr-7808	175	8	herranz	herranz	PROPN
cblr-7808	175	9	-	-	PUNCT
cblr-7808	175	10	zarzoso	zarzoso	PROPN
cblr-7808	175	11	&	&	CCONJ
cblr-7808	175	12	gerardo	gerardo	PROPN
cblr-7808	175	13	sabater	sabater	PROPN
cblr-7808	175	14	-	-	PUNCT
cblr-7808	175	15	grande	grande	ADJ
cblr-7808	175	16	,	,	PUNCT
cblr-7808	175	17	monetary	monetary	ADJ
cblr-7808	175	18	incentives	incentive	NOUN
cblr-7808	175	19	and	and	CCONJ
cblr-7808	175	20	overconfidence	overconfidence	NOUN
cblr-7808	175	21	in	in	ADP
cblr-7808	175	22	academic	academic	ADJ
cblr-7808	175	23	performance	performance	NOUN
cblr-7808	175	24	:	:	PUNCT
cblr-7808	175	25	an	an	DET
cblr-7808	175	26	experimental	experimental	ADJ
cblr-7808	175	27	study	study	NOUN
cblr-7808	175	28	25–26	25–26	NUM
cblr-7808	175	29	(	(	PUNCT
cblr-7808	175	30	econ	econ	PROPN
cblr-7808	175	31	.	.	PUNCT
cblr-7808	175	32	dep’t	dep’t	PROPN
cblr-7808	175	33	,	,	PUNCT
cblr-7808	175	34	universitat	universitat	PROPN
cblr-7808	175	35	jaume	jaume	PROPN
cblr-7808	176	1	i	i	PROPN
cblr-7808	176	2	,	,	PUNCT
cblr-7808	176	3	working	work	VERB
cblr-7808	176	4	paper	paper	NOUN
cblr-7808	176	5	2020/14	2020/14	NUM
cblr-7808	176	6	,	,	PUNCT
cblr-7808	176	7	2020	2020	NUM
cblr-7808	176	8	)	)	PUNCT
cblr-7808	176	9	,	,	PUNCT
cblr-7808	176	10	http://www.doctreballeco.uji.es/wpficheros/herranz_and_sabater_14_2020	http://www.doctreballeco.uji.es/wpficheros/herranz_and_sabater_14_2020	NOUN
cblr-7808	176	11	.	.	PUNCT
cblr-7808	177	1	pdf	pdf	NOUN
cblr-7808	178	1	[	[	X
cblr-7808	178	2	https://perma.cc/yzu2-lfzy	https://perma.cc/yzu2-lfzy	X
cblr-7808	178	3	]	]	PUNCT
cblr-7808	178	4	(	(	PUNCT
cblr-7808	178	5	quotation	quotation	NOUN
cblr-7808	178	6	in	in	ADP
cblr-7808	178	7	abstract	abstract	NOUN
cblr-7808	178	8	)	)	PUNCT
cblr-7808	178	9	;	;	PUNCT
cblr-7808	178	10	see	see	VERB
cblr-7808	178	11	also	also	ADV
cblr-7808	178	12	maël	maël	PROPN
cblr-7808	178	13	lebreton	lebreton	PROPN
cblr-7808	178	14	et	et	PROPN
cblr-7808	178	15	al	al	PROPN
cblr-7808	178	16	.	.	PROPN
cblr-7808	178	17	,	,	PUNCT
cblr-7808	178	18	two	two	NUM
cblr-7808	178	19	sides	side	NOUN
cblr-7808	178	20	of	of	ADP
cblr-7808	178	21	the	the	DET
cblr-7808	178	22	same	same	ADJ
cblr-7808	178	23	coin	coin	NOUN
cblr-7808	178	24	:	:	PUNCT
cblr-7808	178	25	monetary	monetary	ADJ
cblr-7808	178	26	incentives	incentive	NOUN
cblr-7808	178	27	concurrently	concurrently	ADV
cblr-7808	178	28	improve	improve	VERB
cblr-7808	178	29	and	and	CCONJ
cblr-7808	178	30	bias	bias	VERB
cblr-7808	178	31	confidence	confidence	NOUN
cblr-7808	178	32	judgments	judgment	NOUN
cblr-7808	178	33	,	,	PUNCT
cblr-7808	178	34	sci	sci	PROPN
cblr-7808	178	35	.	.	PROPN
cblr-7808	178	36	advances	advance	NOUN
cblr-7808	178	37	,	,	PUNCT
cblr-7808	178	38	may	may	AUX
cblr-7808	178	39	30	30	NUM
cblr-7808	178	40	,	,	PUNCT
cblr-7808	178	41	2018	2018	NUM
cblr-7808	178	42	,	,	PUNCT
cblr-7808	178	43	at	at	ADP
cblr-7808	178	44	8	8	NUM
cblr-7808	178	45	(	(	PUNCT
cblr-7808	178	46	finding	find	VERB
cblr-7808	178	47	that	that	SCONJ
cblr-7808	178	48	“	"	PUNCT
cblr-7808	178	49	high	high	ADJ
cblr-7808	178	50	(	(	PUNCT
cblr-7808	178	51	or	or	CCONJ
cblr-7808	178	52	low	low	ADJ
cblr-7808	178	53	)	)	PUNCT
cblr-7808	178	54	confidence	confidence	NOUN
cblr-7808	178	55	is	be	AUX
cblr-7808	178	56	more	more	ADV
cblr-7808	178	57	closely	closely	ADV
cblr-7808	178	58	associated	associate	VERB
cblr-7808	178	59	with	with	ADP
cblr-7808	178	60	correct	correct	ADJ
cblr-7808	178	61	(	(	PUNCT
cblr-7808	178	62	or	or	CCONJ
cblr-7808	178	63	incorrect	incorrect	ADJ
cblr-7808	178	64	)	)	PUNCT
cblr-7808	178	65	decisions	decision	NOUN
cblr-7808	178	66	when	when	SCONJ
cblr-7808	178	67	confidence	confidence	NOUN
cblr-7808	178	68	reports	report	NOUN
cblr-7808	178	69	are	be	AUX
cblr-7808	178	70	incentivized	incentivize	VERB
cblr-7808	178	71	”	"	PUNCT
cblr-7808	178	72	and	and	CCONJ
cblr-7808	178	73	that	that	SCONJ
cblr-7808	178	74	“	"	PUNCT
cblr-7808	178	75	[	[	X
cblr-7808	178	76	t]he	t]he	X
cblr-7808	178	77	prospect	prospect	NOUN
cblr-7808	178	78	of	of	ADP
cblr-7808	178	79	gains	gain	NOUN
cblr-7808	178	80	increases	increase	VERB
cblr-7808	178	81	confidence	confidence	NOUN
cblr-7808	178	82	,	,	PUNCT
cblr-7808	178	83	while	while	SCONJ
cblr-7808	178	84	the	the	DET
cblr-7808	178	85	prospect	prospect	NOUN
cblr-7808	178	86	of	of	ADP
cblr-7808	178	87	losses	loss	NOUN
cblr-7808	178	88	decreases	decrease	VERB
cblr-7808	178	89	confidence	confidence	NOUN
cblr-7808	178	90	”	"	PUNCT
cblr-7808	178	91	)	)	PUNCT
cblr-7808	178	92	.	.	PUNCT
cblr-7808	179	1	40	40	NUM
cblr-7808	179	2	colin	colin	PROPN
cblr-7808	179	3	f.	f.	PROPN
cblr-7808	179	4	camerer	camerer	PROPN
cblr-7808	179	5	&	&	CCONJ
cblr-7808	179	6	robin	robin	PROPN
cblr-7808	179	7	m.	m.	PROPN
cblr-7808	179	8	hogarth	hogarth	PROPN
cblr-7808	179	9	,	,	PUNCT
cblr-7808	179	10	the	the	DET
cblr-7808	179	11	effects	effect	NOUN
cblr-7808	179	12	of	of	ADP
cblr-7808	179	13	financial	financial	ADJ
cblr-7808	179	14	incentives	incentive	NOUN
cblr-7808	179	15	in	in	ADP
cblr-7808	179	16	experiments	experiment	NOUN
cblr-7808	179	17	:	:	PUNCT
cblr-7808	179	18	a	a	DET
cblr-7808	179	19	review	review	NOUN
cblr-7808	179	20	and	and	CCONJ
cblr-7808	179	21	capital	capital	NOUN
cblr-7808	179	22	-	-	PUNCT
cblr-7808	179	23	labor	labor	NOUN
cblr-7808	179	24	-	-	PUNCT
cblr-7808	179	25	production	production	NOUN
cblr-7808	179	26	framework	framework	NOUN
cblr-7808	179	27	,	,	PUNCT
cblr-7808	179	28	19	19	NUM
cblr-7808	179	29	j.	j.	PROPN
cblr-7808	179	30	risk	risk	NOUN
cblr-7808	179	31	&	&	CCONJ
cblr-7808	179	32	uncertainty	uncertainty	NOUN
cblr-7808	179	33	7	7	NUM
cblr-7808	179	34	,	,	PUNCT
cblr-7808	179	35	8	8	NUM
cblr-7808	179	36	,	,	PUNCT
cblr-7808	179	37	19–21	19–21	NUM
cblr-7808	179	38	,	,	PUNCT
cblr-7808	179	39	34–35	34–35	NUM
cblr-7808	179	40	(	(	PUNCT
cblr-7808	179	41	1999	1999	NUM
cblr-7808	179	42	)	)	PUNCT
cblr-7808	179	43	(	(	PUNCT
cblr-7808	179	44	“	"	PUNCT
cblr-7808	179	45	incentives	incentive	NOUN
cblr-7808	179	46	improve	improve	VERB
cblr-7808	179	47	performance	performance	NOUN
cblr-7808	179	48	in	in	ADP
cblr-7808	179	49	easy	easy	ADJ
cblr-7808	179	50	tasks	task	NOUN
cblr-7808	179	51	that	that	PRON
cblr-7808	179	52	are	be	AUX
cblr-7808	179	53	effort	effort	NOUN
cblr-7808	179	54	-	-	PUNCT
cblr-7808	179	55	responsive	responsive	ADJ
cblr-7808	179	56	,	,	PUNCT
cblr-7808	179	57	like	like	ADP
cblr-7808	179	58	judgment	judgment	NOUN
cblr-7808	179	59	,	,	PUNCT
cblr-7808	179	60	prediction	prediction	NOUN
cblr-7808	179	61	,	,	PUNCT
cblr-7808	179	62	[	[	X
cblr-7808	179	63	and	and	CCONJ
cblr-7808	179	64	]	]	X
cblr-7808	179	65	problem	problem	NOUN
cblr-7808	179	66	-	-	PUNCT
cblr-7808	179	67	solving	solving	NOUN
cblr-7808	179	68	.	.	PUNCT
cblr-7808	179	69	.	.	PUNCT
cblr-7808	179	70	.	.	PUNCT
cblr-7808	180	1	.	.	PUNCT
cblr-7808	181	1	incentives	incentive	NOUN
cblr-7808	181	2	sometimes	sometimes	ADV
cblr-7808	181	3	kastiel	kastiel	VERB
cblr-7808	181	4	(	(	PUNCT
cblr-7808	181	5	comment	comment	NOUN
cblr-7808	181	6	)	)	PUNCT
cblr-7808	181	7	1/15/2021	1/15/2021	NUM
cblr-7808	181	8	2:38	2:38	NUM
cblr-7808	181	9	pm	pm	NOUN
cblr-7808	182	1	no	no	INTJ
cblr-7808	182	2	.	.	PUNCT
cblr-7808	183	1	3:834	3:834	NUM
cblr-7808	183	2	]	]	X
cblr-7808	183	3	long	long	ADJ
cblr-7808	183	4	-	-	PUNCT
cblr-7808	183	5	term	term	NOUN
cblr-7808	183	6	bias	bias	NOUN
cblr-7808	183	7	,	,	PUNCT
cblr-7808	183	8	incentives	incentive	NOUN
cblr-7808	183	9	,	,	PUNCT
cblr-7808	183	10	and	and	CCONJ
cblr-7808	183	11	agency	agency	NOUN
cblr-7808	183	12	costs	cost	NOUN
cblr-7808	183	13	845	845	NUM
cblr-7808	183	14	taken	take	VERB
cblr-7808	183	15	together	together	ADV
cblr-7808	183	16	,	,	PUNCT
cblr-7808	183	17	these	these	DET
cblr-7808	183	18	studies	study	NOUN
cblr-7808	183	19	show	show	VERB
cblr-7808	183	20	that	that	SCONJ
cblr-7808	183	21	people	people	NOUN
cblr-7808	183	22	tend	tend	VERB
cblr-7808	183	23	to	to	PART
cblr-7808	183	24	be	be	AUX
cblr-7808	183	25	less	less	ADV
cblr-7808	183	26	optimistic	optimistic	ADJ
cblr-7808	183	27	and	and	CCONJ
cblr-7808	183	28	more	more	ADV
cblr-7808	183	29	realistic	realistic	ADJ
cblr-7808	183	30	when	when	SCONJ
cblr-7808	183	31	financial	financial	ADJ
cblr-7808	183	32	or	or	CCONJ
cblr-7808	183	33	other	other	ADJ
cblr-7808	183	34	rewards	reward	NOUN
cblr-7808	183	35	are	be	AUX
cblr-7808	183	36	at	at	ADP
cblr-7808	183	37	stake	stake	NOUN
cblr-7808	183	38	.	.	PUNCT
cblr-7808	184	1	b.	b.	PROPN
cblr-7808	184	2	mitigating	mitigate	VERB
cblr-7808	184	3	factors	factor	NOUN
cblr-7808	184	4	this	this	DET
cblr-7808	184	5	section	section	NOUN
cblr-7808	184	6	identifies	identify	VERB
cblr-7808	184	7	and	and	CCONJ
cblr-7808	184	8	explores	explore	VERB
cblr-7808	184	9	several	several	ADJ
cblr-7808	184	10	factors	factor	NOUN
cblr-7808	184	11	that	that	PRON
cblr-7808	184	12	could	could	AUX
cblr-7808	184	13	mitigate	mitigate	VERB
cblr-7808	184	14	managerial	managerial	ADJ
cblr-7808	184	15	long	long	ADJ
cblr-7808	184	16	-	-	PUNCT
cblr-7808	184	17	term	term	NOUN
cblr-7808	184	18	bias	bias	NOUN
cblr-7808	184	19	.	.	PUNCT
cblr-7808	185	1	such	such	ADJ
cblr-7808	185	2	factors	factor	NOUN
cblr-7808	185	3	include	include	VERB
cblr-7808	185	4	executive	executive	ADJ
cblr-7808	185	5	compensation	compensation	NOUN
cblr-7808	185	6	,	,	PUNCT
cblr-7808	185	7	market	market	NOUN
cblr-7808	185	8	signals	signal	NOUN
cblr-7808	185	9	,	,	PUNCT
cblr-7808	185	10	risk	risk	NOUN
cblr-7808	185	11	of	of	ADP
cblr-7808	185	12	removal	removal	NOUN
cblr-7808	185	13	,	,	PUNCT
cblr-7808	185	14	and	and	CCONJ
cblr-7808	185	15	activist	activist	NOUN
cblr-7808	185	16	shareholders.41	shareholders.41	ADV
cblr-7808	185	17	with	with	ADP
cblr-7808	185	18	these	these	DET
cblr-7808	185	19	mitigating	mitigate	VERB
cblr-7808	185	20	mechanisms	mechanism	NOUN
cblr-7808	185	21	in	in	ADP
cblr-7808	185	22	place	place	NOUN
cblr-7808	185	23	,	,	PUNCT
cblr-7808	185	24	we	we	PRON
cblr-7808	185	25	should	should	AUX
cblr-7808	185	26	expect	expect	VERB
cblr-7808	185	27	managers	manager	NOUN
cblr-7808	185	28	of	of	ADP
cblr-7808	185	29	companies	company	NOUN
cblr-7808	185	30	in	in	ADP
cblr-7808	185	31	competitive	competitive	ADJ
cblr-7808	185	32	markets	market	NOUN
cblr-7808	185	33	to	to	PART
cblr-7808	185	34	make	make	VERB
cblr-7808	185	35	more	more	ADV
cblr-7808	185	36	sensitive	sensitive	ADJ
cblr-7808	185	37	and	and	CCONJ
cblr-7808	185	38	accurate	accurate	ADJ
cblr-7808	185	39	judgments	judgment	NOUN
cblr-7808	185	40	.	.	PUNCT
cblr-7808	186	1	otherwise	otherwise	ADV
cblr-7808	186	2	,	,	PUNCT
cblr-7808	186	3	they	they	PRON
cblr-7808	186	4	will	will	AUX
cblr-7808	186	5	bear	bear	VERB
cblr-7808	186	6	substantial	substantial	ADJ
cblr-7808	186	7	costs	cost	NOUN
cblr-7808	186	8	.	.	PUNCT
cblr-7808	187	1	before	before	ADP
cblr-7808	187	2	proceeding	proceeding	NOUN
cblr-7808	187	3	,	,	PUNCT
cblr-7808	187	4	it	it	PRON
cblr-7808	187	5	should	should	AUX
cblr-7808	187	6	be	be	AUX
cblr-7808	187	7	clarified	clarify	VERB
cblr-7808	187	8	that	that	SCONJ
cblr-7808	187	9	the	the	DET
cblr-7808	187	10	analysis	analysis	NOUN
cblr-7808	187	11	herein	herein	NOUN
cblr-7808	187	12	does	do	AUX
cblr-7808	187	13	not	not	PART
cblr-7808	187	14	deny	deny	VERB
cblr-7808	187	15	that	that	SCONJ
cblr-7808	187	16	some	some	DET
cblr-7808	187	17	managers	manager	NOUN
cblr-7808	187	18	will	will	AUX
cblr-7808	187	19	suffer	suffer	VERB
cblr-7808	187	20	from	from	ADP
cblr-7808	187	21	long	long	ADJ
cblr-7808	187	22	-	-	PUNCT
cblr-7808	187	23	term	term	NOUN
cblr-7808	187	24	bias	bias	NOUN
cblr-7808	187	25	.	.	PUNCT
cblr-7808	188	1	despite	despite	SCONJ
cblr-7808	188	2	the	the	DET
cblr-7808	188	3	mitigating	mitigating	NOUN
cblr-7808	188	4	impact	impact	NOUN
cblr-7808	188	5	of	of	ADP
cblr-7808	188	6	financial	financial	ADJ
cblr-7808	188	7	incentives	incentive	NOUN
cblr-7808	188	8	,	,	PUNCT
cblr-7808	188	9	some	some	DET
cblr-7808	188	10	managers	manager	NOUN
cblr-7808	188	11	could	could	AUX
cblr-7808	188	12	still	still	ADV
cblr-7808	188	13	exhibit	exhibit	VERB
cblr-7808	188	14	a	a	DET
cblr-7808	188	15	bias	bias	NOUN
cblr-7808	188	16	toward	toward	ADP
cblr-7808	188	17	inferior	inferior	ADJ
cblr-7808	188	18	long	long	ADJ
cblr-7808	188	19	-	-	PUNCT
cblr-7808	188	20	term	term	NOUN
cblr-7808	188	21	projects	project	NOUN
cblr-7808	188	22	and	and	CCONJ
cblr-7808	188	23	suffer	suffer	VERB
cblr-7808	188	24	personal	personal	ADJ
cblr-7808	188	25	losses.42	losses.42	NOUN
cblr-7808	188	26	nonetheless	nonetheless	ADV
cblr-7808	188	27	,	,	PUNCT
cblr-7808	188	28	when	when	SCONJ
cblr-7808	188	29	motivating	motivating	NOUN
cblr-7808	188	30	incentives	incentive	VERB
cblr-7808	188	31	such	such	ADJ
cblr-7808	188	32	as	as	ADP
cblr-7808	188	33	those	those	PRON
cblr-7808	188	34	discussed	discuss	VERB
cblr-7808	188	35	below	below	ADV
cblr-7808	188	36	are	be	AUX
cblr-7808	188	37	present	present	ADJ
cblr-7808	188	38	,	,	PUNCT
cblr-7808	188	39	managers	manager	NOUN
cblr-7808	188	40	are	be	AUX
cblr-7808	188	41	less	less	ADV
cblr-7808	188	42	likely	likely	ADJ
cblr-7808	188	43	on	on	ADP
cblr-7808	188	44	average	average	ADJ
cblr-7808	188	45	to	to	PART
cblr-7808	188	46	continue	continue	VERB
cblr-7808	188	47	to	to	PART
cblr-7808	188	48	exhibit	exhibit	VERB
cblr-7808	188	49	such	such	ADJ
cblr-7808	188	50	irrational	irrational	ADJ
cblr-7808	188	51	behavior	behavior	NOUN
cblr-7808	188	52	.	.	PUNCT
cblr-7808	189	1	1	1	X
cblr-7808	189	2	.	.	X
cblr-7808	189	3	executive	executive	ADJ
cblr-7808	189	4	compensation	compensation	NOUN
cblr-7808	189	5	in	in	ADP
cblr-7808	189	6	recent	recent	ADJ
cblr-7808	189	7	years	year	NOUN
cblr-7808	189	8	,	,	PUNCT
cblr-7808	189	9	there	there	PRON
cblr-7808	189	10	has	have	AUX
cblr-7808	189	11	been	be	AUX
cblr-7808	189	12	a	a	DET
cblr-7808	189	13	push	push	NOUN
cblr-7808	189	14	toward	toward	ADP
cblr-7808	189	15	aligning	align	VERB
cblr-7808	189	16	executive	executive	ADJ
cblr-7808	189	17	compensation	compensation	NOUN
cblr-7808	189	18	with	with	ADP
cblr-7808	189	19	a	a	DET
cblr-7808	189	20	firm	firm	NOUN
cblr-7808	189	21	’s	’s	PART
cblr-7808	189	22	long	long	ADJ
cblr-7808	189	23	-	-	PUNCT
cblr-7808	189	24	term	term	NOUN
cblr-7808	189	25	value	value	NOUN
cblr-7808	189	26	and	and	CCONJ
cblr-7808	189	27	performance.43	performance.43	NOUN
cblr-7808	189	28	investors	investor	NOUN
cblr-7808	189	29	,	,	PUNCT
cblr-7808	189	30	regulators	regulator	NOUN
cblr-7808	189	31	,	,	PUNCT
cblr-7808	189	32	and	and	CCONJ
cblr-7808	189	33	corporate	corporate	ADJ
cblr-7808	189	34	governance	governance	NOUN
cblr-7808	189	35	scholars	scholar	NOUN
cblr-7808	189	36	long	long	ADV
cblr-7808	189	37	have	have	AUX
cblr-7808	189	38	emphasized	emphasize	VERB
cblr-7808	189	39	the	the	DET
cblr-7808	189	40	need	need	NOUN
cblr-7808	189	41	to	to	PART
cblr-7808	189	42	ensure	ensure	VERB
cblr-7808	189	43	hurt	hurt	NOUN
cblr-7808	189	44	when	when	SCONJ
cblr-7808	189	45	problems	problem	NOUN
cblr-7808	189	46	are	be	AUX
cblr-7808	189	47	too	too	ADV
cblr-7808	189	48	difficult	difficult	ADJ
cblr-7808	189	49	or	or	CCONJ
cblr-7808	189	50	when	when	SCONJ
cblr-7808	189	51	simple	simple	ADJ
cblr-7808	189	52	intuition	intuition	NOUN
cblr-7808	189	53	or	or	CCONJ
cblr-7808	189	54	habit	habit	NOUN
cblr-7808	189	55	provides	provide	VERB
cblr-7808	189	56	an	an	DET
cblr-7808	189	57	optimal	optimal	ADJ
cblr-7808	189	58	answer	answer	NOUN
cblr-7808	189	59	and	and	CCONJ
cblr-7808	189	60	thinking	think	VERB
cblr-7808	189	61	harder	hard	ADV
cblr-7808	189	62	makes	make	VERB
cblr-7808	189	63	things	thing	NOUN
cblr-7808	189	64	worse	bad	ADJ
cblr-7808	189	65	.	.	PUNCT
cblr-7808	190	1	in	in	ADP
cblr-7808	190	2	games	game	NOUN
cblr-7808	190	3	,	,	PUNCT
cblr-7808	190	4	auctions	auction	NOUN
cblr-7808	190	5	,	,	PUNCT
cblr-7808	190	6	and	and	CCONJ
cblr-7808	190	7	risky	risky	ADJ
cblr-7808	190	8	choices	choice	NOUN
cblr-7808	190	9	the	the	DET
cblr-7808	190	10	most	most	ADV
cblr-7808	190	11	typical	typical	ADJ
cblr-7808	190	12	result	result	NOUN
cblr-7808	190	13	is	be	AUX
cblr-7808	190	14	that	that	SCONJ
cblr-7808	190	15	incentives	incentive	NOUN
cblr-7808	190	16	do	do	AUX
cblr-7808	190	17	not	not	PART
cblr-7808	190	18	affect	affect	VERB
cblr-7808	190	19	mean	mean	ADJ
cblr-7808	190	20	performance	performance	NOUN
cblr-7808	190	21	,	,	PUNCT
cblr-7808	190	22	but	but	CCONJ
cblr-7808	190	23	incentives	incentive	NOUN
cblr-7808	190	24	often	often	ADV
cblr-7808	190	25	reduce	reduce	VERB
cblr-7808	190	26	variance	variance	NOUN
cblr-7808	190	27	in	in	ADP
cblr-7808	190	28	responses	response	NOUN
cblr-7808	190	29	.	.	PUNCT
cblr-7808	191	1	in	in	ADP
cblr-7808	191	2	situations	situation	NOUN
cblr-7808	191	3	where	where	SCONJ
cblr-7808	191	4	there	there	PRON
cblr-7808	191	5	is	be	VERB
cblr-7808	191	6	no	no	DET
cblr-7808	191	7	clear	clear	ADJ
cblr-7808	191	8	standard	standard	NOUN
cblr-7808	191	9	of	of	ADP
cblr-7808	191	10	performance	performance	NOUN
cblr-7808	191	11	,	,	PUNCT
cblr-7808	191	12	incentives	incentive	NOUN
cblr-7808	191	13	often	often	ADV
cblr-7808	191	14	cause	cause	VERB
cblr-7808	191	15	subjects	subject	NOUN
cblr-7808	191	16	to	to	PART
cblr-7808	191	17	move	move	VERB
cblr-7808	191	18	away	away	ADV
cblr-7808	191	19	from	from	ADP
cblr-7808	191	20	favorable	favorable	ADJ
cblr-7808	191	21	‘	'	PUNCT
cblr-7808	191	22	selfpresentation	selfpresentation	NOUN
cblr-7808	191	23	’	'	PUNCT
cblr-7808	191	24	behavior	behavior	NOUN
cblr-7808	191	25	toward	toward	ADP
cblr-7808	191	26	more	more	ADV
cblr-7808	191	27	realistic	realistic	ADJ
cblr-7808	191	28	choices	choice	NOUN
cblr-7808	191	29	.	.	PUNCT
cblr-7808	191	30	”	"	PUNCT
cblr-7808	191	31	)	)	PUNCT
cblr-7808	191	32	.	.	PUNCT
cblr-7808	192	1	41	41	NUM
cblr-7808	192	2	this	this	DET
cblr-7808	192	3	section	section	NOUN
cblr-7808	192	4	discusses	discuss	VERB
cblr-7808	192	5	the	the	DET
cblr-7808	192	6	last	last	ADJ
cblr-7808	192	7	factor	factor	NOUN
cblr-7808	192	8	only	only	ADV
cblr-7808	192	9	briefly	briefly	ADV
cblr-7808	192	10	,	,	PUNCT
cblr-7808	192	11	as	as	SCONJ
cblr-7808	192	12	barzuza	barzuza	NOUN
cblr-7808	192	13	and	and	CCONJ
cblr-7808	192	14	talley	talley	NOUN
cblr-7808	192	15	discuss	discuss	VERB
cblr-7808	192	16	it	it	PRON
cblr-7808	192	17	at	at	ADP
cblr-7808	192	18	length	length	NOUN
cblr-7808	192	19	.	.	PUNCT
cblr-7808	193	1	see	see	VERB
cblr-7808	193	2	barzuza	barzuza	PROPN
cblr-7808	193	3	&	&	CCONJ
cblr-7808	193	4	talley	talley	PROPN
cblr-7808	193	5	,	,	PUNCT
cblr-7808	193	6	supra	supra	PROPN
cblr-7808	193	7	note	note	PROPN
cblr-7808	193	8	6	6	NUM
cblr-7808	193	9	,	,	PUNCT
cblr-7808	193	10	at	at	ADP
cblr-7808	193	11	173–81	173–81	NUM
cblr-7808	193	12	.	.	PUNCT
cblr-7808	194	1	42	42	NUM
cblr-7808	194	2	see	see	VERB
cblr-7808	194	3	i	i	PRON
cblr-7808	194	4	d.	d.	PROPN
cblr-7808	194	5	at	at	ADP
cblr-7808	194	6	177	177	NUM
cblr-7808	194	7	,	,	PUNCT
cblr-7808	194	8	187	187	NUM
cblr-7808	194	9	n.348	n.348	NOUN
cblr-7808	194	10	(	(	PUNCT
cblr-7808	194	11	citing	cite	VERB
cblr-7808	194	12	malmendier	malmendier	NOUN
cblr-7808	194	13	&	&	CCONJ
cblr-7808	194	14	tate	tate	PROPN
cblr-7808	194	15	,	,	PUNCT
cblr-7808	194	16	corporate	corporate	ADJ
cblr-7808	194	17	investment	investment	NOUN
cblr-7808	194	18	,	,	PUNCT
cblr-7808	194	19	supra	supra	PROPN
cblr-7808	194	20	note	note	NOUN
cblr-7808	194	21	10	10	NUM
cblr-7808	194	22	,	,	PUNCT
cblr-7808	194	23	at	at	ADP
cblr-7808	194	24	2697	2697	NUM
cblr-7808	194	25	)	)	PUNCT
cblr-7808	194	26	.	.	PUNCT
cblr-7808	195	1	43	43	NUM
cblr-7808	195	2	see	see	VERB
cblr-7808	195	3	shilon	shilon	NOUN
cblr-7808	195	4	,	,	PUNCT
cblr-7808	195	5	supra	supra	PROPN
cblr-7808	195	6	note	note	NOUN
cblr-7808	195	7	14	14	NUM
cblr-7808	195	8	,	,	PUNCT
cblr-7808	195	9	at	at	ADP
cblr-7808	195	10	361–63	361–63	PROPN
cblr-7808	195	11	.	.	PUNCT
cblr-7808	196	1	kastiel	kastiel	PROPN
cblr-7808	196	2	(	(	PUNCT
cblr-7808	196	3	comment	comment	NOUN
cblr-7808	196	4	)	)	PUNCT
cblr-7808	196	5	1/15/2021	1/15/2021	NUM
cblr-7808	196	6	2:38	2:38	NUM
cblr-7808	196	7	pm	pm	NOUN
cblr-7808	196	8	846	846	NUM
cblr-7808	196	9	columbia	columbia	PROPN
cblr-7808	196	10	business	business	NOUN
cblr-7808	196	11	law	law	PROPN
cblr-7808	196	12	review	review	NOUN
cblr-7808	196	13	[	[	X
cblr-7808	196	14	vol	vol	NOUN
cblr-7808	196	15	.	.	PUNCT
cblr-7808	196	16	2020	2020	NUM
cblr-7808	196	17	that	that	PRON
cblr-7808	196	18	the	the	DET
cblr-7808	196	19	compensation	compensation	NOUN
cblr-7808	196	20	of	of	ADP
cblr-7808	196	21	public	public	ADJ
cblr-7808	196	22	company	company	NOUN
cblr-7808	196	23	executives	executive	NOUN
cblr-7808	196	24	is	be	AUX
cblr-7808	196	25	tied	tie	VERB
cblr-7808	196	26	to	to	ADP
cblr-7808	196	27	long	long	ADJ
cblr-7808	196	28	-	-	PUNCT
cblr-7808	196	29	term	term	NOUN
cblr-7808	196	30	results	result	NOUN
cblr-7808	196	31	in	in	ADP
cblr-7808	196	32	order	order	NOUN
cblr-7808	196	33	to	to	PART
cblr-7808	196	34	prevent	prevent	VERB
cblr-7808	196	35	executives	executive	NOUN
cblr-7808	196	36	from	from	ADP
cblr-7808	196	37	attaching	attach	VERB
cblr-7808	196	38	excessive	excessive	ADJ
cblr-7808	196	39	weight	weight	NOUN
cblr-7808	196	40	to	to	ADP
cblr-7808	196	41	short	short	ADJ
cblr-7808	196	42	-	-	PUNCT
cblr-7808	196	43	term	term	NOUN
cblr-7808	196	44	prices	price	NOUN
cblr-7808	196	45	and	and	CCONJ
cblr-7808	196	46	to	to	PART
cblr-7808	196	47	avoid	avoid	VERB
cblr-7808	196	48	creating	create	VERB
cblr-7808	196	49	incentives	incentive	NOUN
cblr-7808	196	50	for	for	ADP
cblr-7808	196	51	excessive	excessive	ADJ
cblr-7808	196	52	risk	risk	NOUN
cblr-7808	196	53	-	-	PUNCT
cblr-7808	196	54	taking.44	taking.44	NOUN
cblr-7808	196	55	the	the	DET
cblr-7808	196	56	mechanism	mechanism	NOUN
cblr-7808	196	57	of	of	ADP
cblr-7808	196	58	executive	executive	ADJ
cblr-7808	196	59	compensation	compensation	NOUN
cblr-7808	196	60	—	—	PUNCT
cblr-7808	196	61	when	when	SCONJ
cblr-7808	196	62	it	it	PRON
cblr-7808	196	63	operates	operate	VERB
cblr-7808	196	64	well	well	ADV
cblr-7808	196	65	—	—	PUNCT
cblr-7808	196	66	serves	serve	VERB
cblr-7808	196	67	an	an	DET
cblr-7808	196	68	important	important	ADJ
cblr-7808	196	69	disciplinary	disciplinary	ADJ
cblr-7808	196	70	function	function	NOUN
cblr-7808	196	71	,	,	PUNCT
cblr-7808	196	72	as	as	SCONJ
cblr-7808	196	73	it	it	PRON
cblr-7808	196	74	provides	provide	VERB
cblr-7808	196	75	managers	manager	NOUN
cblr-7808	196	76	with	with	ADP
cblr-7808	196	77	strong	strong	ADJ
cblr-7808	196	78	incentives	incentive	NOUN
cblr-7808	196	79	not	not	PART
cblr-7808	196	80	to	to	PART
cblr-7808	196	81	make	make	VERB
cblr-7808	196	82	investments	investment	NOUN
cblr-7808	196	83	with	with	ADP
cblr-7808	196	84	inferior	inferior	ADJ
cblr-7808	196	85	long	long	ADJ
cblr-7808	196	86	-	-	PUNCT
cblr-7808	196	87	term	term	NOUN
cblr-7808	196	88	returns	return	NOUN
cblr-7808	196	89	.	.	PUNCT
cblr-7808	197	1	making	make	VERB
cblr-7808	197	2	these	these	DET
cblr-7808	197	3	investments	investment	NOUN
cblr-7808	197	4	would	would	AUX
cblr-7808	197	5	result	result	VERB
cblr-7808	197	6	in	in	ADP
cblr-7808	197	7	significant	significant	ADJ
cblr-7808	197	8	losses	loss	NOUN
cblr-7808	197	9	for	for	ADP
cblr-7808	197	10	managers	manager	NOUN
cblr-7808	197	11	in	in	ADP
cblr-7808	197	12	the	the	DET
cblr-7808	197	13	form	form	NOUN
cblr-7808	197	14	of	of	ADP
cblr-7808	197	15	a	a	DET
cblr-7808	197	16	decline	decline	NOUN
cblr-7808	197	17	in	in	ADP
cblr-7808	197	18	the	the	DET
cblr-7808	197	19	value	value	NOUN
cblr-7808	197	20	of	of	ADP
cblr-7808	197	21	their	their	PRON
cblr-7808	197	22	equity	equity	NOUN
cblr-7808	197	23	-	-	PUNCT
cblr-7808	197	24	based	base	VERB
cblr-7808	197	25	compensation.45	compensation.45	ADJ
cblr-7808	197	26	scholars	scholar	NOUN
cblr-7808	197	27	have	have	AUX
cblr-7808	197	28	long	long	ADV
cblr-7808	197	29	emphasized	emphasize	VERB
cblr-7808	197	30	the	the	DET
cblr-7808	197	31	need	need	NOUN
cblr-7808	197	32	to	to	PART
cblr-7808	197	33	tie	tie	VERB
cblr-7808	197	34	executive	executive	ADJ
cblr-7808	197	35	pay	pay	NOUN
cblr-7808	197	36	to	to	ADP
cblr-7808	197	37	the	the	DET
cblr-7808	197	38	long	long	ADJ
cblr-7808	197	39	term	term	NOUN
cblr-7808	197	40	because	because	SCONJ
cblr-7808	197	41	rational	rational	ADJ
cblr-7808	197	42	risk	risk	NOUN
cblr-7808	197	43	-	-	PUNCT
cblr-7808	197	44	averse	averse	ADJ
cblr-7808	197	45	ceos	ceo	NOUN
cblr-7808	197	46	have	have	VERB
cblr-7808	197	47	incentives	incentive	NOUN
cblr-7808	197	48	to	to	PART
cblr-7808	197	49	reduce	reduce	VERB
cblr-7808	197	50	their	their	PRON
cblr-7808	197	51	exposure	exposure	NOUN
cblr-7808	197	52	to	to	ADP
cblr-7808	197	53	company	company	NOUN
cblr-7808	197	54	-	-	PUNCT
cblr-7808	197	55	specific	specific	ADJ
cblr-7808	197	56	risk	risk	NOUN
cblr-7808	197	57	by	by	ADP
cblr-7808	197	58	unloading	unload	VERB
cblr-7808	197	59	their	their	PRON
cblr-7808	197	60	equity	equity	NOUN
cblr-7808	197	61	position	position	NOUN
cblr-7808	197	62	or	or	CCONJ
cblr-7808	197	63	exercising	exercise	VERB
cblr-7808	197	64	their	their	PRON
cblr-7808	197	65	stock	stock	NOUN
cblr-7808	197	66	options	option	NOUN
cblr-7808	197	67	early	early	ADV
cblr-7808	197	68	if	if	SCONJ
cblr-7808	197	69	those	those	DET
cblr-7808	197	70	options	option	NOUN
cblr-7808	197	71	are	be	AUX
cblr-7808	197	72	sufficiently	sufficiently	ADV
cblr-7808	197	73	deep	deep	ADJ
cblr-7808	197	74	in	in	ADP
cblr-7808	197	75	the	the	DET
cblr-7808	197	76	money	money	NOUN
cblr-7808	197	77	(	(	PUNCT
cblr-7808	197	78	that	that	PRON
cblr-7808	197	79	is	is	ADV
cblr-7808	197	80	,	,	PUNCT
cblr-7808	197	81	they	they	PRON
cblr-7808	197	82	have	have	AUX
cblr-7808	197	83	a	a	DET
cblr-7808	197	84	market	market	NOUN
cblr-7808	197	85	price	price	NOUN
cblr-7808	197	86	above	above	ADP
cblr-7808	197	87	the	the	DET
cblr-7808	197	88	strike	strike	NOUN
cblr-7808	197	89	price	price	NOUN
cblr-7808	197	90	of	of	ADP
cblr-7808	197	91	the	the	DET
cblr-7808	197	92	stock).46	stock).46	PROPN
cblr-7808	197	93	doing	do	VERB
cblr-7808	197	94	so	so	ADV
cblr-7808	197	95	would	would	AUX
cblr-7808	197	96	reduce	reduce	VERB
cblr-7808	197	97	the	the	DET
cblr-7808	197	98	risk	risk	NOUN
cblr-7808	197	99	of	of	ADP
cblr-7808	197	100	suffering	suffer	VERB
cblr-7808	197	101	significant	significant	ADJ
cblr-7808	197	102	losses	loss	NOUN
cblr-7808	197	103	in	in	ADP
cblr-7808	197	104	case	case	NOUN
cblr-7808	197	105	of	of	ADP
cblr-7808	197	106	a	a	DET
cblr-7808	197	107	failure	failure	NOUN
cblr-7808	197	108	of	of	ADP
cblr-7808	197	109	a	a	DET
cblr-7808	197	110	risky	risky	ADJ
cblr-7808	197	111	venture	venture	NOUN
cblr-7808	197	112	.	.	PUNCT
cblr-7808	198	1	barzuza	barzuza	NOUN
cblr-7808	198	2	and	and	CCONJ
cblr-7808	198	3	talley	talley	PROPN
cblr-7808	198	4	argue	argue	VERB
cblr-7808	198	5	that	that	SCONJ
cblr-7808	198	6	executive	executive	ADJ
cblr-7808	198	7	compensation	compensation	NOUN
cblr-7808	198	8	incentives	incentive	NOUN
cblr-7808	198	9	are	be	AUX
cblr-7808	198	10	unlikely	unlikely	ADJ
cblr-7808	198	11	to	to	PART
cblr-7808	198	12	play	play	VERB
cblr-7808	198	13	a	a	DET
cblr-7808	198	14	meaningful	meaningful	ADJ
cblr-7808	198	15	disciplinary	disciplinary	ADJ
cblr-7808	198	16	function	function	NOUN
cblr-7808	198	17	in	in	ADP
cblr-7808	198	18	the	the	DET
cblr-7808	198	19	case	case	NOUN
cblr-7808	198	20	of	of	ADP
cblr-7808	198	21	overconfident	overconfident	ADJ
cblr-7808	198	22	managers	manager	NOUN
cblr-7808	198	23	.	.	PUNCT
cblr-7808	199	1	this	this	PRON
cblr-7808	199	2	is	be	AUX
cblr-7808	199	3	because	because	SCONJ
cblr-7808	199	4	“	"	PUNCT
cblr-7808	199	5	overconfident	overconfident	ADJ
cblr-7808	199	6	managers	manager	NOUN
cblr-7808	199	7	—	—	PUNCT
cblr-7808	199	8	who	who	PRON
cblr-7808	199	9	genuinely	genuinely	ADV
cblr-7808	199	10	(	(	PUNCT
cblr-7808	199	11	but	but	CCONJ
cblr-7808	199	12	mistakenly	mistakenly	ADV
cblr-7808	199	13	)	)	PUNCT
cblr-7808	199	14	believe	believe	VERB
cblr-7808	199	15	in	in	ADP
cblr-7808	199	16	the	the	DET
cblr-7808	199	17	quality	quality	NOUN
cblr-7808	199	18	of	of	ADP
cblr-7808	199	19	their	their	PRON
cblr-7808	199	20	long	long	ADJ
cblr-7808	199	21	-	-	PUNCT
cblr-7808	199	22	term	term	NOUN
cblr-7808	199	23	investments	investment	NOUN
cblr-7808	199	24	—	—	PUNCT
cblr-7808	199	25	are	be	AUX
cblr-7808	199	26	encouraged	encourage	VERB
cblr-7808	199	27	to	to	PART
cblr-7808	199	28	invest	invest	VERB
cblr-7808	199	29	even	even	ADV
cblr-7808	199	30	more	more	ADV
cblr-7808	199	31	when	when	SCONJ
cblr-7808	199	32	their	their	PRON
cblr-7808	199	33	compensation	compensation	NOUN
cblr-7808	199	34	is	be	AUX
cblr-7808	199	35	tied	tie	VERB
cblr-7808	199	36	to	to	ADP
cblr-7808	199	37	firm	firm	ADJ
cblr-7808	199	38	value	value	NOUN
cblr-7808	199	39	.	.	PUNCT
cblr-7808	199	40	”47	”47	PROPN
cblr-7808	200	1	thus	thus	ADV
cblr-7808	200	2	,	,	PUNCT
cblr-7808	200	3	tying	tie	VERB
cblr-7808	200	4	compensation	compensation	NOUN
cblr-7808	200	5	to	to	ADP
cblr-7808	200	6	long	long	ADJ
cblr-7808	200	7	-	-	PUNCT
cblr-7808	200	8	term	term	NOUN
cblr-7808	200	9	results	result	NOUN
cblr-7808	200	10	would	would	AUX
cblr-7808	200	11	just	just	ADV
cblr-7808	200	12	aggravate	aggravate	VERB
cblr-7808	200	13	overconfident	overconfident	ADJ
cblr-7808	200	14	managers	manager	NOUN
cblr-7808	200	15	’	'	PUNCT
cblr-7808	200	16	biases	bias	NOUN
cblr-7808	200	17	,	,	PUNCT
cblr-7808	200	18	as	as	SCONJ
cblr-7808	200	19	it	it	PRON
cblr-7808	200	20	would	would	AUX
cblr-7808	200	21	provide	provide	VERB
cblr-7808	200	22	them	they	PRON
cblr-7808	200	23	with	with	ADP
cblr-7808	200	24	an	an	DET
cblr-7808	200	25	additional	additional	ADJ
cblr-7808	200	26	incentive	incentive	NOUN
cblr-7808	200	27	to	to	PART
cblr-7808	200	28	invest	invest	VERB
cblr-7808	200	29	even	even	ADV
cblr-7808	200	30	more	more	ADV
cblr-7808	200	31	in	in	ADP
cblr-7808	200	32	long	long	ADJ
cblr-7808	200	33	-	-	PUNCT
cblr-7808	200	34	term	term	NOUN
cblr-7808	200	35	projects	project	NOUN
cblr-7808	200	36	.	.	PUNCT
cblr-7808	201	1	for	for	ADP
cblr-7808	201	2	the	the	DET
cblr-7808	201	3	same	same	ADJ
cblr-7808	201	4	reason	reason	NOUN
cblr-7808	201	5	,	,	PUNCT
cblr-7808	201	6	it	it	PRON
cblr-7808	201	7	might	might	AUX
cblr-7808	201	8	be	be	AUX
cblr-7808	201	9	expected	expect	VERB
cblr-7808	201	10	that	that	SCONJ
cblr-7808	201	11	a	a	DET
cblr-7808	201	12	ceo	ceo	NOUN
cblr-7808	201	13	44	44	NUM
cblr-7808	201	14	see	see	NOUN
cblr-7808	201	15	,	,	PUNCT
cblr-7808	201	16	e.g.	e.g.	ADV
cblr-7808	201	17	,	,	PUNCT
cblr-7808	201	18	lucian	lucian	PROPN
cblr-7808	201	19	a.	a.	PROPN
cblr-7808	201	20	bebchuk	bebchuk	PROPN
cblr-7808	201	21	&	&	CCONJ
cblr-7808	201	22	jesse	jesse	PROPN
cblr-7808	201	23	m.	m.	PROPN
cblr-7808	201	24	fried	fried	PROPN
cblr-7808	201	25	,	,	PUNCT
cblr-7808	201	26	paying	pay	VERB
cblr-7808	201	27	for	for	ADP
cblr-7808	201	28	long	long	ADJ
cblr-7808	201	29	-	-	PUNCT
cblr-7808	201	30	term	term	NOUN
cblr-7808	201	31	performance	performance	NOUN
cblr-7808	201	32	,	,	PUNCT
cblr-7808	201	33	158	158	NUM
cblr-7808	201	34	u.	u.	PROPN
cblr-7808	201	35	pa	pa	PROPN
cblr-7808	201	36	.	.	PUNCT
cblr-7808	201	37	l.	l.	PROPN
cblr-7808	201	38	rev	rev	PROPN
cblr-7808	201	39	.	.	PROPN
cblr-7808	201	40	1915	1915	NUM
cblr-7808	201	41	,	,	PUNCT
cblr-7808	201	42	1916–19	1916–19	NUM
cblr-7808	201	43	(	(	PUNCT
cblr-7808	201	44	2010	2010	NUM
cblr-7808	201	45	)	)	PUNCT
cblr-7808	201	46	.	.	PUNCT
cblr-7808	202	1	45	45	NUM
cblr-7808	202	2	see	see	VERB
cblr-7808	202	3	shilon	shilon	NOUN
cblr-7808	202	4	,	,	PUNCT
cblr-7808	202	5	supra	supra	PROPN
cblr-7808	202	6	note	note	NOUN
cblr-7808	202	7	14	14	NUM
cblr-7808	202	8	,	,	PUNCT
cblr-7808	202	9	at	at	ADP
cblr-7808	202	10	361–62	361–62	NUM
cblr-7808	202	11	;	;	PUNCT
cblr-7808	202	12	cf	cf	X
cblr-7808	202	13	.	.	PUNCT
cblr-7808	203	1	also	also	ADV
cblr-7808	203	2	andrew	andrew	PROPN
cblr-7808	203	3	ludwig	ludwig	PROPN
cblr-7808	203	4	,	,	PUNCT
cblr-7808	203	5	ceo	ceo	NOUN
cblr-7808	203	6	pay	pay	NOUN
cblr-7808	203	7	trends	trend	NOUN
cblr-7808	203	8	around	around	ADP
cblr-7808	203	9	the	the	DET
cblr-7808	203	10	globe	globe	NOUN
cblr-7808	203	11	,	,	PUNCT
cblr-7808	203	12	harv	harv	PROPN
cblr-7808	203	13	.	.	PUNCT
cblr-7808	204	1	l.	l.	PROPN
cblr-7808	204	2	sch	sch	PROPN
cblr-7808	204	3	.	.	PUNCT
cblr-7808	205	1	f.	f.	PROPN
cblr-7808	205	2	on	on	ADP
cblr-7808	205	3	corp	corp	PROPN
cblr-7808	205	4	.	.	PROPN
cblr-7808	205	5	governance	governance	PROPN
cblr-7808	205	6	(	(	PUNCT
cblr-7808	205	7	feb	feb	PROPN
cblr-7808	205	8	.	.	PROPN
cblr-7808	205	9	3	3	NUM
cblr-7808	205	10	,	,	PUNCT
cblr-7808	205	11	2019	2019	NUM
cblr-7808	205	12	)	)	PUNCT
cblr-7808	205	13	,	,	PUNCT
cblr-7808	205	14	https://corpgov.law.harvard.edu/2019/02/03/ceo-pay-trendsaround-the-globe/	https://corpgov.law.harvard.edu/2019/02/03/ceo-pay-trendsaround-the-globe/	X
cblr-7808	206	1	[	[	X
cblr-7808	206	2	https://perma.cc/4tpg-7xbh	https://perma.cc/4tpg-7xbh	X
cblr-7808	206	3	]	]	X
cblr-7808	206	4	(	(	PUNCT
cblr-7808	206	5	providing	provide	VERB
cblr-7808	206	6	data	datum	NOUN
cblr-7808	206	7	on	on	ADP
cblr-7808	206	8	the	the	DET
cblr-7808	206	9	use	use	NOUN
cblr-7808	206	10	of	of	ADP
cblr-7808	206	11	equity	equity	NOUN
cblr-7808	206	12	based	base	VERB
cblr-7808	206	13	compensation	compensation	NOUN
cblr-7808	206	14	in	in	ADP
cblr-7808	206	15	the	the	DET
cblr-7808	206	16	united	united	PROPN
cblr-7808	206	17	states	states	PROPN
cblr-7808	206	18	and	and	CCONJ
cblr-7808	206	19	around	around	ADP
cblr-7808	206	20	the	the	DET
cblr-7808	206	21	world	world	NOUN
cblr-7808	206	22	)	)	PUNCT
cblr-7808	206	23	.	.	PUNCT
cblr-7808	207	1	46	46	NUM
cblr-7808	207	2	see	see	VERB
cblr-7808	207	3	malmendier	malmendier	NOUN
cblr-7808	207	4	&	&	CCONJ
cblr-7808	207	5	tate	tate	PROPN
cblr-7808	207	6	,	,	PUNCT
cblr-7808	207	7	corporate	corporate	ADJ
cblr-7808	207	8	investment	investment	NOUN
cblr-7808	207	9	,	,	PUNCT
cblr-7808	207	10	supra	supra	PROPN
cblr-7808	207	11	note	note	NOUN
cblr-7808	207	12	10	10	NUM
cblr-7808	207	13	,	,	PUNCT
cblr-7808	207	14	at	at	ADP
cblr-7808	207	15	2671	2671	NUM
cblr-7808	207	16	.	.	PUNCT
cblr-7808	208	1	47	47	NUM
cblr-7808	208	2	barzuza	barzuza	PROPN
cblr-7808	208	3	&	&	CCONJ
cblr-7808	208	4	talley	talley	PROPN
cblr-7808	208	5	,	,	PUNCT
cblr-7808	208	6	supra	supra	PROPN
cblr-7808	208	7	note	note	PROPN
cblr-7808	208	8	6	6	NUM
cblr-7808	208	9	,	,	PUNCT
cblr-7808	208	10	at	at	ADP
cblr-7808	208	11	177	177	NUM
cblr-7808	208	12	.	.	PUNCT
cblr-7808	209	1	kastiel	kastiel	NOUN
cblr-7808	209	2	(	(	PUNCT
cblr-7808	209	3	comment	comment	NOUN
cblr-7808	209	4	)	)	PUNCT
cblr-7808	209	5	1/15/2021	1/15/2021	NUM
cblr-7808	209	6	2:38	2:38	NUM
cblr-7808	209	7	pm	pm	NOUN
cblr-7808	209	8	no	no	INTJ
cblr-7808	209	9	.	.	PUNCT
cblr-7808	210	1	3:834	3:834	NUM
cblr-7808	210	2	]	]	X
cblr-7808	210	3	long	long	ADJ
cblr-7808	210	4	-	-	PUNCT
cblr-7808	210	5	term	term	NOUN
cblr-7808	210	6	bias	bias	NOUN
cblr-7808	210	7	,	,	PUNCT
cblr-7808	210	8	incentives	incentive	NOUN
cblr-7808	210	9	,	,	PUNCT
cblr-7808	210	10	and	and	CCONJ
cblr-7808	210	11	agency	agency	NOUN
cblr-7808	210	12	costs	cost	VERB
cblr-7808	210	13	847	847	NUM
cblr-7808	210	14	who	who	PRON
cblr-7808	210	15	suffers	suffer	VERB
cblr-7808	210	16	from	from	ADP
cblr-7808	210	17	long	long	ADJ
cblr-7808	210	18	-	-	PUNCT
cblr-7808	210	19	term	term	NOUN
cblr-7808	210	20	bias	bias	NOUN
cblr-7808	210	21	will	will	AUX
cblr-7808	210	22	hold	hold	VERB
cblr-7808	210	23	on	on	ADP
cblr-7808	210	24	to	to	ADP
cblr-7808	210	25	an	an	DET
cblr-7808	210	26	option	option	NOUN
cblr-7808	210	27	until	until	ADP
cblr-7808	210	28	late	late	ADV
cblr-7808	210	29	in	in	ADP
cblr-7808	210	30	the	the	DET
cblr-7808	210	31	option	option	NOUN
cblr-7808	210	32	’s	’s	PART
cblr-7808	210	33	life	life	NOUN
cblr-7808	210	34	even	even	ADV
cblr-7808	210	35	if	if	SCONJ
cblr-7808	210	36	the	the	DET
cblr-7808	210	37	option	option	NOUN
cblr-7808	210	38	is	be	AUX
cblr-7808	210	39	already	already	ADV
cblr-7808	210	40	deep	deep	ADJ
cblr-7808	210	41	in	in	ADP
cblr-7808	210	42	the	the	DET
cblr-7808	210	43	money	money	NOUN
cblr-7808	210	44	.	.	PUNCT
cblr-7808	211	1	holding	hold	VERB
cblr-7808	211	2	on	on	ADP
cblr-7808	211	3	in	in	ADP
cblr-7808	211	4	this	this	DET
cblr-7808	211	5	way	way	NOUN
cblr-7808	211	6	is	be	AUX
cblr-7808	211	7	evidence	evidence	NOUN
cblr-7808	211	8	of	of	ADP
cblr-7808	211	9	optimistic	optimistic	ADJ
cblr-7808	211	10	beliefs	belief	NOUN
cblr-7808	211	11	about	about	ADP
cblr-7808	211	12	the	the	DET
cblr-7808	211	13	company	company	NOUN
cblr-7808	211	14	’s	’s	PART
cblr-7808	211	15	prospects.48	prospects.48	NOUN
cblr-7808	211	16	the	the	DET
cblr-7808	211	17	question	question	NOUN
cblr-7808	211	18	of	of	ADP
cblr-7808	211	19	whether	whether	SCONJ
cblr-7808	211	20	executive	executive	ADJ
cblr-7808	211	21	compensation	compensation	NOUN
cblr-7808	211	22	packages	package	NOUN
cblr-7808	211	23	and	and	CCONJ
cblr-7808	211	24	their	their	PRON
cblr-7808	211	25	linkage	linkage	NOUN
cblr-7808	211	26	to	to	ADP
cblr-7808	211	27	long	long	ADJ
cblr-7808	211	28	-	-	PUNCT
cblr-7808	211	29	term	term	NOUN
cblr-7808	211	30	benchmarks	benchmark	NOUN
cblr-7808	211	31	mitigate	mitigate	VERB
cblr-7808	211	32	or	or	CCONJ
cblr-7808	211	33	aggravate	aggravate	VERB
cblr-7808	211	34	long	long	ADJ
cblr-7808	211	35	-	-	PUNCT
cblr-7808	211	36	term	term	NOUN
cblr-7808	211	37	bias	bias	NOUN
cblr-7808	211	38	is	be	AUX
cblr-7808	211	39	essentially	essentially	ADV
cblr-7808	211	40	an	an	DET
cblr-7808	211	41	empirical	empirical	ADJ
cblr-7808	211	42	one	one	NUM
cblr-7808	211	43	.	.	PUNCT
cblr-7808	212	1	if	if	SCONJ
cblr-7808	212	2	long	long	ADJ
cblr-7808	212	3	-	-	PUNCT
cblr-7808	212	4	term	term	NOUN
cblr-7808	212	5	bias	bias	NOUN
cblr-7808	212	6	motivates	motivate	VERB
cblr-7808	212	7	most	most	ADJ
cblr-7808	212	8	executives	executive	NOUN
cblr-7808	212	9	,	,	PUNCT
cblr-7808	212	10	it	it	PRON
cblr-7808	212	11	should	should	AUX
cblr-7808	212	12	be	be	AUX
cblr-7808	212	13	anticipated	anticipate	VERB
cblr-7808	212	14	that	that	SCONJ
cblr-7808	212	15	most	most	ADJ
cblr-7808	212	16	of	of	ADP
cblr-7808	212	17	them	they	PRON
cblr-7808	212	18	will	will	AUX
cblr-7808	212	19	hold	hold	VERB
cblr-7808	212	20	on	on	ADP
cblr-7808	212	21	to	to	ADP
cblr-7808	212	22	an	an	DET
cblr-7808	212	23	option	option	NOUN
cblr-7808	212	24	until	until	ADP
cblr-7808	212	25	late	late	ADV
cblr-7808	212	26	in	in	ADP
cblr-7808	212	27	the	the	DET
cblr-7808	212	28	option	option	NOUN
cblr-7808	212	29	’s	’s	PART
cblr-7808	212	30	life	life	NOUN
cblr-7808	212	31	,	,	PUNCT
cblr-7808	212	32	and	and	CCONJ
cblr-7808	212	33	that	that	SCONJ
cblr-7808	212	34	such	such	ADJ
cblr-7808	212	35	equity	equity	NOUN
cblr-7808	212	36	holding	holding	NOUN
cblr-7808	212	37	will	will	AUX
cblr-7808	212	38	cause	cause	VERB
cblr-7808	212	39	them	they	PRON
cblr-7808	212	40	to	to	PART
cblr-7808	212	41	over	over	ADV
cblr-7808	212	42	-	-	PUNCT
cblr-7808	212	43	invest	invest	VERB
cblr-7808	212	44	in	in	ADP
cblr-7808	212	45	the	the	DET
cblr-7808	212	46	long	long	ADV
cblr-7808	212	47	-	-	PUNCT
cblr-7808	212	48	term.49	term.49	VERB
cblr-7808	212	49	the	the	DET
cblr-7808	212	50	evidence	evidence	NOUN
cblr-7808	212	51	,	,	PUNCT
cblr-7808	212	52	however	however	ADV
cblr-7808	212	53	,	,	PUNCT
cblr-7808	212	54	does	do	AUX
cblr-7808	212	55	not	not	PART
cblr-7808	212	56	support	support	VERB
cblr-7808	212	57	this	this	DET
cblr-7808	212	58	expectation	expectation	NOUN
cblr-7808	212	59	,	,	PUNCT
cblr-7808	212	60	as	as	SCONJ
cblr-7808	212	61	the	the	DET
cblr-7808	212	62	data	datum	NOUN
cblr-7808	212	63	show	show	VERB
cblr-7808	212	64	that	that	SCONJ
cblr-7808	212	65	most	most	ADJ
cblr-7808	212	66	managers	manager	NOUN
cblr-7808	212	67	react	react	VERB
cblr-7808	212	68	to	to	ADP
cblr-7808	212	69	executive	executive	ADJ
cblr-7808	212	70	compensation	compensation	NOUN
cblr-7808	212	71	incentives	incentive	VERB
cblr-7808	212	72	rationally	rationally	ADV
cblr-7808	212	73	in	in	ADP
cblr-7808	212	74	order	order	NOUN
cblr-7808	212	75	to	to	PART
cblr-7808	212	76	reduce	reduce	VERB
cblr-7808	212	77	their	their	PRON
cblr-7808	212	78	potential	potential	ADJ
cblr-7808	212	79	losses	loss	NOUN
cblr-7808	212	80	(	(	PUNCT
cblr-7808	212	81	or	or	CCONJ
cblr-7808	212	82	increase	increase	VERB
cblr-7808	212	83	their	their	PRON
cblr-7808	212	84	gains).50	gains).50	NOUN
cblr-7808	212	85	for	for	ADP
cblr-7808	212	86	example	example	NOUN
cblr-7808	212	87	,	,	PUNCT
cblr-7808	212	88	a	a	DET
cblr-7808	212	89	well	well	ADV
cblr-7808	212	90	-	-	PUNCT
cblr-7808	212	91	known	know	VERB
cblr-7808	212	92	study	study	NOUN
cblr-7808	212	93	by	by	ADP
cblr-7808	212	94	malmendier	malmendier	NOUN
cblr-7808	212	95	and	and	CCONJ
cblr-7808	212	96	tate	tate	NOUN
cblr-7808	212	97	shows	show	VERB
cblr-7808	212	98	that	that	SCONJ
cblr-7808	212	99	only	only	ADV
cblr-7808	212	100	about	about	ADV
cblr-7808	212	101	thirteen	thirteen	NUM
cblr-7808	212	102	percent	percent	NOUN
cblr-7808	212	103	of	of	ADP
cblr-7808	212	104	the	the	DET
cblr-7808	212	105	ceos	ceos	NOUN
cblr-7808	212	106	in	in	ADP
cblr-7808	212	107	their	their	PRON
cblr-7808	212	108	sample	sample	NOUN
cblr-7808	212	109	held	hold	VERB
cblr-7808	212	110	their	their	PRON
cblr-7808	212	111	options	option	NOUN
cblr-7808	212	112	to	to	ADP
cblr-7808	212	113	the	the	DET
cblr-7808	212	114	end	end	NOUN
cblr-7808	212	115	of	of	ADP
cblr-7808	212	116	the	the	DET
cblr-7808	212	117	option	option	NOUN
cblr-7808	212	118	period	period	NOUN
cblr-7808	212	119	and	and	CCONJ
cblr-7808	212	120	consequentially	consequentially	ADV
cblr-7808	212	121	bear	bear	VERB
cblr-7808	212	122	financial	financial	ADJ
cblr-7808	212	123	losses.51	losses.51	PROPN
cblr-7808	212	124	this	this	DET
cblr-7808	212	125	finding	finding	NOUN
cblr-7808	212	126	is	be	AUX
cblr-7808	212	127	consistent	consistent	ADJ
cblr-7808	212	128	with	with	ADP
cblr-7808	212	129	those	those	PRON
cblr-7808	212	130	of	of	ADP
cblr-7808	212	131	related	related	ADJ
cblr-7808	212	132	studies	study	NOUN
cblr-7808	212	133	.	.	PUNCT
cblr-7808	213	1	edmans	edman	NOUN
cblr-7808	213	2	,	,	PUNCT
cblr-7808	213	3	fang	fang	X
cblr-7808	213	4	,	,	PUNCT
cblr-7808	213	5	and	and	CCONJ
cblr-7808	213	6	lewellen	lewellen	VERB
cblr-7808	213	7	,	,	PUNCT
cblr-7808	213	8	for	for	ADP
cblr-7808	213	9	example	example	NOUN
cblr-7808	213	10	,	,	PUNCT
cblr-7808	213	11	found	find	VERB
cblr-7808	213	12	that	that	SCONJ
cblr-7808	213	13	executives	executive	NOUN
cblr-7808	213	14	often	often	ADV
cblr-7808	213	15	dispose	dispose	VERB
cblr-7808	213	16	of	of	ADP
cblr-7808	213	17	equity	equity	NOUN
cblr-7808	213	18	-	-	PUNCT
cblr-7808	213	19	based	base	VERB
cblr-7808	213	20	pay	pay	NOUN
cblr-7808	213	21	upon	upon	SCONJ
cblr-7808	213	22	vesting.52	vesting.52	ADJ
cblr-7808	213	23	similarly	similarly	ADV
cblr-7808	213	24	,	,	PUNCT
cblr-7808	213	25	nitzan	nitzan	ADJ
cblr-7808	213	26	shilon	shilon	NOUN
cblr-7808	213	27	has	have	AUX
cblr-7808	213	28	shown	show	VERB
cblr-7808	213	29	that	that	SCONJ
cblr-7808	213	30	ceo	ceo	NOUN
cblr-7808	213	31	stock	stock	NOUN
cblr-7808	213	32	ownership	ownership	NOUN
cblr-7808	213	33	48	48	NUM
cblr-7808	213	34	see	see	NOUN
cblr-7808	213	35	malmendier	malmendier	NOUN
cblr-7808	213	36	&	&	CCONJ
cblr-7808	213	37	tate	tate	PROPN
cblr-7808	213	38	,	,	PUNCT
cblr-7808	213	39	supra	supra	PROPN
cblr-7808	213	40	note	note	PROPN
cblr-7808	213	41	10	10	NUM
cblr-7808	213	42	,	,	PUNCT
cblr-7808	213	43	corporate	corporate	ADJ
cblr-7808	213	44	investment	investment	NOUN
cblr-7808	213	45	,	,	PUNCT
cblr-7808	213	46	at	at	ADP
cblr-7808	213	47	2671	2671	NUM
cblr-7808	213	48	.	.	PUNCT
cblr-7808	214	1	49	49	NUM
cblr-7808	214	2	see	see	VERB
cblr-7808	214	3	i	i	PRON
cblr-7808	214	4	d.	d.	PROPN
cblr-7808	214	5	50	50	NUM
cblr-7808	214	6	in	in	ADP
cblr-7808	214	7	theory	theory	NOUN
cblr-7808	214	8	,	,	PUNCT
cblr-7808	214	9	one	one	PRON
cblr-7808	214	10	could	could	AUX
cblr-7808	214	11	argue	argue	VERB
cblr-7808	214	12	that	that	SCONJ
cblr-7808	214	13	even	even	ADV
cblr-7808	214	14	long	long	ADJ
cblr-7808	214	15	-	-	PUNCT
cblr-7808	214	16	termist	termist	NOUN
cblr-7808	214	17	executives	executive	NOUN
cblr-7808	214	18	choose	choose	VERB
cblr-7808	214	19	to	to	PART
cblr-7808	214	20	sell	sell	VERB
cblr-7808	214	21	their	their	PRON
cblr-7808	214	22	options	option	NOUN
cblr-7808	214	23	when	when	SCONJ
cblr-7808	214	24	they	they	PRON
cblr-7808	214	25	can	can	AUX
cblr-7808	214	26	because	because	SCONJ
cblr-7808	214	27	they	they	PRON
cblr-7808	214	28	prefer	prefer	VERB
cblr-7808	214	29	greater	great	ADJ
cblr-7808	214	30	liquidity	liquidity	NOUN
cblr-7808	214	31	and	and	CCONJ
cblr-7808	214	32	flexibility	flexibility	NOUN
cblr-7808	214	33	.	.	PUNCT
cblr-7808	215	1	most	most	ADJ
cblr-7808	215	2	executives	executive	NOUN
cblr-7808	215	3	,	,	PUNCT
cblr-7808	215	4	however	however	ADV
cblr-7808	215	5	,	,	PUNCT
cblr-7808	215	6	also	also	ADV
cblr-7808	215	7	receive	receive	VERB
cblr-7808	215	8	cash	cash	NOUN
cblr-7808	215	9	compensation	compensation	NOUN
cblr-7808	215	10	and	and	CCONJ
cblr-7808	215	11	thus	thus	ADV
cblr-7808	215	12	are	be	AUX
cblr-7808	215	13	unlikely	unlikely	ADJ
cblr-7808	215	14	to	to	PART
cblr-7808	215	15	have	have	VERB
cblr-7808	215	16	liquidity	liquidity	NOUN
cblr-7808	215	17	needs	need	NOUN
cblr-7808	215	18	.	.	PUNCT
cblr-7808	216	1	see	see	VERB
cblr-7808	216	2	supra	supra	PROPN
cblr-7808	216	3	note	note	PROPN
cblr-7808	216	4	45	45	NUM
cblr-7808	216	5	.	.	PUNCT
cblr-7808	217	1	therefore	therefore	ADV
cblr-7808	217	2	,	,	PUNCT
cblr-7808	217	3	if	if	SCONJ
cblr-7808	217	4	these	these	DET
cblr-7808	217	5	executives	executive	NOUN
cblr-7808	217	6	(	(	PUNCT
cblr-7808	217	7	who	who	PRON
cblr-7808	217	8	also	also	ADV
cblr-7808	217	9	have	have	VERB
cblr-7808	217	10	access	access	NOUN
cblr-7808	217	11	to	to	ADP
cblr-7808	217	12	inside	inside	ADJ
cblr-7808	217	13	information	information	NOUN
cblr-7808	217	14	)	)	PUNCT
cblr-7808	217	15	are	be	AUX
cblr-7808	217	16	truly	truly	ADV
cblr-7808	217	17	optimistic	optimistic	ADJ
cblr-7808	217	18	about	about	ADP
cblr-7808	217	19	the	the	DET
cblr-7808	217	20	company	company	NOUN
cblr-7808	217	21	’s	’s	PART
cblr-7808	217	22	prospects	prospect	NOUN
cblr-7808	217	23	and	and	CCONJ
cblr-7808	217	24	are	be	AUX
cblr-7808	217	25	not	not	PART
cblr-7808	217	26	motivated	motivate	VERB
cblr-7808	217	27	by	by	ADP
cblr-7808	217	28	selfinterest	selfinterest	NOUN
cblr-7808	217	29	,	,	PUNCT
cblr-7808	217	30	they	they	PRON
cblr-7808	217	31	would	would	AUX
cblr-7808	217	32	keep	keep	VERB
cblr-7808	217	33	holding	hold	VERB
cblr-7808	217	34	their	their	PRON
cblr-7808	217	35	shares	share	NOUN
cblr-7808	217	36	instead	instead	ADV
cblr-7808	217	37	of	of	ADP
cblr-7808	217	38	selling	sell	VERB
cblr-7808	217	39	as	as	ADV
cblr-7808	217	40	soon	soon	ADV
cblr-7808	217	41	as	as	SCONJ
cblr-7808	217	42	they	they	PRON
cblr-7808	217	43	can	can	AUX
cblr-7808	217	44	—	—	PUNCT
cblr-7808	217	45	a	a	DET
cblr-7808	217	46	practice	practice	NOUN
cblr-7808	217	47	that	that	PRON
cblr-7808	217	48	has	have	AUX
cblr-7808	217	49	been	be	AUX
cblr-7808	217	50	subject	subject	ADJ
cblr-7808	217	51	to	to	ADP
cblr-7808	217	52	significant	significant	ADJ
cblr-7808	217	53	criticism	criticism	NOUN
cblr-7808	217	54	.	.	PUNCT
cblr-7808	218	1	see	see	VERB
cblr-7808	218	2	,	,	PUNCT
cblr-7808	218	3	e.g.	e.g.	ADV
cblr-7808	218	4	,	,	PUNCT
cblr-7808	218	5	bebchuk	bebchuk	PROPN
cblr-7808	218	6	&	&	CCONJ
cblr-7808	218	7	fried	fried	PROPN
cblr-7808	218	8	,	,	PUNCT
cblr-7808	218	9	supra	supra	PROPN
cblr-7808	218	10	note	note	NOUN
cblr-7808	218	11	44	44	NUM
cblr-7808	218	12	,	,	PUNCT
cblr-7808	218	13	at	at	ADP
cblr-7808	218	14	1923	1923	NUM
cblr-7808	218	15	.	.	PUNCT
cblr-7808	219	1	51	51	NUM
cblr-7808	219	2	see	see	NOUN
cblr-7808	219	3	malmendier	malmendier	NOUN
cblr-7808	219	4	&	&	CCONJ
cblr-7808	219	5	tate	tate	PROPN
cblr-7808	219	6	,	,	PUNCT
cblr-7808	219	7	corporate	corporate	ADJ
cblr-7808	219	8	investment	investment	NOUN
cblr-7808	219	9	,	,	PUNCT
cblr-7808	219	10	supra	supra	PROPN
cblr-7808	219	11	note	note	NOUN
cblr-7808	219	12	10	10	NUM
cblr-7808	219	13	,	,	PUNCT
cblr-7808	219	14	at	at	ADP
cblr-7808	219	15	2673	2673	NUM
cblr-7808	219	16	.	.	PUNCT
cblr-7808	220	1	52	52	NUM
cblr-7808	220	2	see	see	VERB
cblr-7808	220	3	edmans	edman	NOUN
cblr-7808	220	4	et	et	PROPN
cblr-7808	220	5	al	al	PROPN
cblr-7808	220	6	.	.	PROPN
cblr-7808	220	7	,	,	PUNCT
cblr-7808	220	8	supra	supra	PROPN
cblr-7808	220	9	note	note	PROPN
cblr-7808	220	10	13	13	NUM
cblr-7808	220	11	,	,	PUNCT
cblr-7808	220	12	at	at	ADP
cblr-7808	220	13	2229	2229	NUM
cblr-7808	220	14	,	,	PUNCT
cblr-7808	220	15	2230	2230	NUM
cblr-7808	220	16	(	(	PUNCT
cblr-7808	220	17	“	"	PUNCT
cblr-7808	220	18	[	[	X
cblr-7808	220	19	v]esting	v]este	VERB
cblr-7808	220	20	equity	equity	NOUN
cblr-7808	220	21	.	.	PUNCT
cblr-7808	220	22	.	.	PUNCT
cblr-7808	220	23	.	.	PUNCT
cblr-7808	221	1	is	be	AUX
cblr-7808	221	2	highly	highly	ADV
cblr-7808	221	3	correlated	correlate	VERB
cblr-7808	221	4	with	with	ADP
cblr-7808	221	5	actual	actual	ADJ
cblr-7808	221	6	short	short	ADJ
cblr-7808	221	7	-	-	PUNCT
cblr-7808	221	8	term	term	NOUN
cblr-7808	221	9	equity	equity	NOUN
cblr-7808	221	10	sales	sale	NOUN
cblr-7808	221	11	:	:	PUNCT
cblr-7808	221	12	a	a	DET
cblr-7808	221	13	one	one	NUM
cblr-7808	221	14	-	-	PUNCT
cblr-7808	221	15	standarddeviation	standarddeviation	NOUN
cblr-7808	221	16	increase	increase	NOUN
cblr-7808	221	17	in	in	ADP
cblr-7808	221	18	vesting	vest	VERB
cblr-7808	221	19	equity	equity	NOUN
cblr-7808	221	20	is	be	AUX
cblr-7808	221	21	associated	associate	VERB
cblr-7808	221	22	with	with	ADP
cblr-7808	221	23	a	a	DET
cblr-7808	221	24	rise	rise	NOUN
cblr-7808	221	25	in	in	ADP
cblr-7808	221	26	samequarter	samequarter	ADJ
cblr-7808	221	27	equity	equity	NOUN
cblr-7808	221	28	sales	sale	NOUN
cblr-7808	221	29	by	by	ADP
cblr-7808	221	30	$	$	SYM
cblr-7808	221	31	140,000	140,000	NUM
cblr-7808	221	32	,	,	PUNCT
cblr-7808	221	33	16	16	NUM
cblr-7808	221	34	%	%	NOUN
cblr-7808	221	35	of	of	ADP
cblr-7808	221	36	the	the	DET
cblr-7808	221	37	average	average	ADJ
cblr-7808	221	38	level	level	NOUN
cblr-7808	221	39	.	.	PUNCT
cblr-7808	221	40	”	"	PUNCT
cblr-7808	221	41	)	)	PUNCT
cblr-7808	221	42	.	.	PUNCT
cblr-7808	222	1	kastiel	kastiel	PROPN
cblr-7808	222	2	(	(	PUNCT
cblr-7808	222	3	comment	comment	NOUN
cblr-7808	222	4	)	)	PUNCT
cblr-7808	222	5	1/15/2021	1/15/2021	NUM
cblr-7808	222	6	2:38	2:38	NUM
cblr-7808	222	7	pm	pm	NOUN
cblr-7808	222	8	848	848	NUM
cblr-7808	222	9	columbia	columbia	PROPN
cblr-7808	222	10	business	business	NOUN
cblr-7808	222	11	law	law	PROPN
cblr-7808	222	12	review	review	NOUN
cblr-7808	222	13	[	[	X
cblr-7808	222	14	vol	vol	NOUN
cblr-7808	222	15	.	.	PUNCT
cblr-7808	222	16	2020	2020	NUM
cblr-7808	222	17	policies	policy	NOUN
cblr-7808	222	18	,	,	PUNCT
cblr-7808	222	19	widely	widely	ADV
cblr-7808	222	20	adopted	adopt	VERB
cblr-7808	222	21	by	by	ADP
cblr-7808	222	22	leading	lead	VERB
cblr-7808	222	23	firms	firm	NOUN
cblr-7808	222	24	for	for	ADP
cblr-7808	222	25	the	the	DET
cblr-7808	222	26	purpose	purpose	NOUN
cblr-7808	222	27	of	of	ADP
cblr-7808	222	28	aligning	align	VERB
cblr-7808	222	29	managers	manager	NOUN
cblr-7808	222	30	’	’	PART
cblr-7808	222	31	interests	interest	NOUN
cblr-7808	222	32	with	with	ADP
cblr-7808	222	33	those	those	PRON
cblr-7808	222	34	of	of	ADP
cblr-7808	222	35	their	their	PRON
cblr-7808	222	36	long	long	ADJ
cblr-7808	222	37	-	-	PUNCT
cblr-7808	222	38	term	term	NOUN
cblr-7808	222	39	shareholders,53	shareholders,53	NOUN
cblr-7808	222	40	are	be	AUX
cblr-7808	222	41	ineffectual	ineffectual	ADJ
cblr-7808	222	42	in	in	ADP
cblr-7808	222	43	practice	practice	NOUN
cblr-7808	222	44	because	because	SCONJ
cblr-7808	222	45	ceos	ceo	NOUN
cblr-7808	222	46	tend	tend	VERB
cblr-7808	222	47	to	to	PART
cblr-7808	222	48	sell	sell	VERB
cblr-7808	222	49	their	their	PRON
cblr-7808	222	50	vested	vested	ADJ
cblr-7808	222	51	stock	stock	NOUN
cblr-7808	222	52	as	as	ADV
cblr-7808	222	53	soon	soon	ADV
cblr-7808	222	54	as	as	SCONJ
cblr-7808	222	55	they	they	PRON
cblr-7808	222	56	can.54	can.54	VERB
cblr-7808	222	57	this	this	DET
cblr-7808	222	58	empirical	empirical	ADJ
cblr-7808	222	59	evidence	evidence	NOUN
cblr-7808	222	60	indicates	indicate	VERB
cblr-7808	222	61	that	that	SCONJ
cblr-7808	222	62	ceos	ceo	NOUN
cblr-7808	222	63	,	,	PUNCT
cblr-7808	222	64	on	on	ADP
cblr-7808	222	65	average	average	ADJ
cblr-7808	222	66	,	,	PUNCT
cblr-7808	222	67	respond	respond	VERB
cblr-7808	222	68	to	to	ADP
cblr-7808	222	69	financial	financial	ADJ
cblr-7808	222	70	incentives	incentive	NOUN
cblr-7808	222	71	and	and	CCONJ
cblr-7808	222	72	behave	behave	VERB
cblr-7808	222	73	rationally	rationally	ADV
cblr-7808	222	74	.	.	PUNCT
cblr-7808	223	1	they	they	PRON
cblr-7808	223	2	prefer	prefer	VERB
cblr-7808	223	3	to	to	PART
cblr-7808	223	4	exercise	exercise	VERB
cblr-7808	223	5	the	the	DET
cblr-7808	223	6	options	option	NOUN
cblr-7808	223	7	and	and	CCONJ
cblr-7808	223	8	unwind	unwind	VERB
cblr-7808	223	9	their	their	PRON
cblr-7808	223	10	equity	equity	NOUN
cblr-7808	223	11	holdings	holding	NOUN
cblr-7808	223	12	when	when	SCONJ
cblr-7808	223	13	they	they	PRON
cblr-7808	223	14	can	can	AUX
cblr-7808	223	15	in	in	ADP
cblr-7808	223	16	order	order	NOUN
cblr-7808	223	17	to	to	PART
cblr-7808	223	18	reduce	reduce	VERB
cblr-7808	223	19	their	their	PRON
cblr-7808	223	20	firm	firm	ADJ
cblr-7808	223	21	-	-	PUNCT
cblr-7808	223	22	specific	specific	ADJ
cblr-7808	223	23	risk	risk	NOUN
cblr-7808	223	24	.	.	PUNCT
cblr-7808	224	1	additional	additional	ADJ
cblr-7808	224	2	studies	study	NOUN
cblr-7808	224	3	have	have	AUX
cblr-7808	224	4	shown	show	VERB
cblr-7808	224	5	that	that	SCONJ
cblr-7808	224	6	when	when	SCONJ
cblr-7808	224	7	ceos	ceos	PROPN
cblr-7808	224	8	can	can	AUX
cblr-7808	224	9	unwind	unwind	VERB
cblr-7808	224	10	their	their	PRON
cblr-7808	224	11	equity	equity	NOUN
cblr-7808	224	12	holdings	holding	NOUN
cblr-7808	224	13	quickly	quickly	ADV
cblr-7808	224	14	,	,	PUNCT
cblr-7808	224	15	they	they	PRON
cblr-7808	224	16	are	be	AUX
cblr-7808	224	17	more	more	ADV
cblr-7808	224	18	likely	likely	ADJ
cblr-7808	224	19	to	to	PART
cblr-7808	224	20	act	act	VERB
cblr-7808	224	21	myopically	myopically	ADV
cblr-7808	224	22	.	.	PUNCT
cblr-7808	225	1	for	for	ADP
cblr-7808	225	2	example	example	NOUN
cblr-7808	225	3	,	,	PUNCT
cblr-7808	225	4	studies	study	NOUN
cblr-7808	225	5	have	have	AUX
cblr-7808	225	6	found	find	VERB
cblr-7808	225	7	that	that	SCONJ
cblr-7808	225	8	executives	executive	NOUN
cblr-7808	225	9	cut	cut	VERB
cblr-7808	225	10	investments	investment	NOUN
cblr-7808	225	11	and	and	CCONJ
cblr-7808	225	12	report	report	VERB
cblr-7808	225	13	higher	high	ADJ
cblr-7808	225	14	short	short	ADJ
cblr-7808	225	15	-	-	PUNCT
cblr-7808	225	16	term	term	NOUN
cblr-7808	225	17	earnings	earning	NOUN
cblr-7808	225	18	when	when	SCONJ
cblr-7808	225	19	they	they	PRON
cblr-7808	225	20	can	can	AUX
cblr-7808	225	21	exercise	exercise	VERB
cblr-7808	225	22	their	their	PRON
cblr-7808	225	23	options	option	NOUN
cblr-7808	225	24	earlier,55	earlier,55	NOUN
cblr-7808	225	25	that	that	SCONJ
cblr-7808	225	26	executive	executive	PROPN
cblr-7808	225	27	compensation	compensation	NOUN
cblr-7808	225	28	contracts	contract	NOUN
cblr-7808	225	29	with	with	ADP
cblr-7808	225	30	shorter	short	ADJ
cblr-7808	225	31	-	-	PUNCT
cblr-7808	225	32	duration	duration	NOUN
cblr-7808	225	33	correlate	correlate	NOUN
cblr-7808	225	34	“	"	PUNCT
cblr-7808	225	35	with	with	ADP
cblr-7808	225	36	greater	great	ADJ
cblr-7808	225	37	managerial	managerial	ADJ
cblr-7808	225	38	incentive	incentive	NOUN
cblr-7808	225	39	to	to	PART
cblr-7808	225	40	manipulate	manipulate	VERB
cblr-7808	225	41	short	short	ADJ
cblr-7808	225	42	-	-	PUNCT
cblr-7808	225	43	term	term	NOUN
cblr-7808	225	44	performance,”56	performance,”56	NOUN
cblr-7808	225	45	and	and	CCONJ
cblr-7808	225	46	that	that	SCONJ
cblr-7808	225	47	an	an	DET
cblr-7808	225	48	increase	increase	NOUN
cblr-7808	225	49	in	in	ADP
cblr-7808	225	50	equity	equity	NOUN
cblr-7808	225	51	vesting	vesting	NOUN
cblr-7808	225	52	correlates	correlate	VERB
cblr-7808	225	53	with	with	ADP
cblr-7808	225	54	a	a	DET
cblr-7808	225	55	decline	decline	NOUN
cblr-7808	225	56	in	in	ADP
cblr-7808	225	57	r&d	r&d	NOUN
cblr-7808	225	58	growth	growth	NOUN
cblr-7808	225	59	and	and	CCONJ
cblr-7808	225	60	with	with	ADP
cblr-7808	225	61	positive	positive	ADJ
cblr-7808	225	62	analyst	analyst	NOUN
cblr-7808	225	63	forecast	forecast	NOUN
cblr-7808	225	64	revisions.57	revisions.57	PROPN
cblr-7808	225	65	other	other	ADJ
cblr-7808	225	66	work	work	NOUN
cblr-7808	225	67	has	have	AUX
cblr-7808	225	68	shown	show	VERB
cblr-7808	225	69	that	that	SCONJ
cblr-7808	225	70	firms	firm	NOUN
cblr-7808	225	71	whose	whose	DET
cblr-7808	225	72	executives	executive	NOUN
cblr-7808	225	73	are	be	AUX
cblr-7808	225	74	about	about	ADJ
cblr-7808	225	75	to	to	PART
cblr-7808	225	76	retire	retire	VERB
cblr-7808	225	77	are	be	AUX
cblr-7808	225	78	more	more	ADV
cblr-7808	225	79	likely	likely	ADJ
cblr-7808	225	80	to	to	PART
cblr-7808	225	81	be	be	AUX
cblr-7808	225	82	acquired.58	acquired.58	ADJ
cblr-7808	225	83	53	53	NUM
cblr-7808	225	84	shilon	shilon	NOUN
cblr-7808	225	85	,	,	PUNCT
cblr-7808	225	86	supra	supra	PROPN
cblr-7808	225	87	note	note	NOUN
cblr-7808	225	88	14	14	NUM
cblr-7808	225	89	,	,	PUNCT
cblr-7808	225	90	at	at	ADP
cblr-7808	225	91	361–63	361–63	PROPN
cblr-7808	225	92	(	(	PUNCT
cblr-7808	225	93	discussing	discuss	VERB
cblr-7808	225	94	the	the	DET
cblr-7808	225	95	use	use	NOUN
cblr-7808	225	96	of	of	ADP
cblr-7808	225	97	compensation	compensation	NOUN
cblr-7808	225	98	to	to	PART
cblr-7808	225	99	minimize	minimize	VERB
cblr-7808	225	100	agency	agency	NOUN
cblr-7808	225	101	costs	cost	NOUN
cblr-7808	225	102	by	by	ADP
cblr-7808	225	103	tying	tie	VERB
cblr-7808	225	104	together	together	ADP
cblr-7808	225	105	executives	executive	NOUN
cblr-7808	225	106	’	'	PUNCT
cblr-7808	225	107	and	and	CCONJ
cblr-7808	225	108	shareholders	shareholder	NOUN
cblr-7808	225	109	’	'	PUNCT
cblr-7808	225	110	interests	interest	NOUN
cblr-7808	225	111	)	)	PUNCT
cblr-7808	225	112	.	.	PUNCT
cblr-7808	226	1	54	54	NUM
cblr-7808	226	2	see	see	VERB
cblr-7808	226	3	i	i	PRON
cblr-7808	226	4	d.	d.	PROPN
cblr-7808	226	5	at	at	ADP
cblr-7808	226	6	394–95	394–95	PROPN
cblr-7808	226	7	(	(	PUNCT
cblr-7808	226	8	discussing	discuss	VERB
cblr-7808	226	9	this	this	DET
cblr-7808	226	10	issue	issue	NOUN
cblr-7808	226	11	with	with	ADP
cblr-7808	226	12	an	an	DET
cblr-7808	226	13	example	example	NOUN
cblr-7808	226	14	)	)	PUNCT
cblr-7808	226	15	.	.	PUNCT
cblr-7808	227	1	55	55	NUM
cblr-7808	227	2	see	see	VERB
cblr-7808	227	3	tomislav	tomislav	PROPN
cblr-7808	227	4	ladika	ladika	PROPN
cblr-7808	227	5	&	&	CCONJ
cblr-7808	227	6	zacharias	zacharias	PROPN
cblr-7808	227	7	sautner	sautner	PROPN
cblr-7808	227	8	,	,	PUNCT
cblr-7808	227	9	managerial	managerial	ADJ
cblr-7808	227	10	shorttermism	shorttermism	NOUN
cblr-7808	227	11	and	and	CCONJ
cblr-7808	227	12	investment	investment	NOUN
cblr-7808	227	13	:	:	PUNCT
cblr-7808	227	14	evidence	evidence	NOUN
cblr-7808	227	15	from	from	ADP
cblr-7808	227	16	accelerated	accelerate	VERB
cblr-7808	227	17	option	option	NOUN
cblr-7808	227	18	vesting	vest	VERB
cblr-7808	227	19	,	,	PUNCT
cblr-7808	227	20	24	24	NUM
cblr-7808	227	21	rev	rev	X
cblr-7808	227	22	.	.	PROPN
cblr-7808	228	1	fin	fin	NOUN
cblr-7808	228	2	.	.	PUNCT
cblr-7808	229	1	305	305	NUM
cblr-7808	229	2	,	,	PUNCT
cblr-7808	229	3	327	327	NUM
cblr-7808	229	4	(	(	PUNCT
cblr-7808	229	5	2020	2020	NUM
cblr-7808	229	6	)	)	PUNCT
cblr-7808	229	7	.	.	PUNCT
cblr-7808	230	1	56	56	NUM
cblr-7808	230	2	see	see	VERB
cblr-7808	230	3	radhakrishnan	radhakrishnan	PROPN
cblr-7808	230	4	gopalan	gopalan	PROPN
cblr-7808	230	5	et	et	PROPN
cblr-7808	230	6	al	al	PROPN
cblr-7808	230	7	.	.	PROPN
cblr-7808	230	8	,	,	PUNCT
cblr-7808	230	9	duration	duration	NOUN
cblr-7808	230	10	of	of	ADP
cblr-7808	230	11	executive	executive	ADJ
cblr-7808	230	12	compensation	compensation	NOUN
cblr-7808	230	13	,	,	PUNCT
cblr-7808	230	14	69	69	NUM
cblr-7808	230	15	j.	j.	PROPN
cblr-7808	230	16	fin	fin	PROPN
cblr-7808	230	17	.	.	PROPN
cblr-7808	231	1	2777	2777	NUM
cblr-7808	231	2	,	,	PUNCT
cblr-7808	231	3	2812	2812	NUM
cblr-7808	231	4	(	(	PUNCT
cblr-7808	231	5	2014	2014	NUM
cblr-7808	231	6	)	)	PUNCT
cblr-7808	231	7	.	.	PUNCT
cblr-7808	232	1	57	57	NUM
cblr-7808	232	2	edmans	edman	NOUN
cblr-7808	232	3	et	et	PROPN
cblr-7808	232	4	al	al	PROPN
cblr-7808	232	5	,	,	PUNCT
cblr-7808	232	6	supra	supra	PROPN
cblr-7808	232	7	note	note	NOUN
cblr-7808	232	8	13	13	NUM
cblr-7808	232	9	,	,	PUNCT
cblr-7808	232	10	at	at	ADP
cblr-7808	232	11	2230	2230	NUM
cblr-7808	232	12	;	;	PUNCT
cblr-7808	232	13	cf	cf	X
cblr-7808	232	14	.	.	PUNCT
cblr-7808	233	1	alex	alex	PROPN
cblr-7808	233	2	edmans	edmans	PROPN
cblr-7808	233	3	,	,	PUNCT
cblr-7808	233	4	vivian	vivian	PROPN
cblr-7808	233	5	w.	w.	PROPN
cblr-7808	233	6	fang	fang	PROPN
cblr-7808	233	7	&	&	CCONJ
cblr-7808	233	8	allen	allen	PROPN
cblr-7808	233	9	h.	h.	PROPN
cblr-7808	233	10	huang	huang	PROPN
cblr-7808	233	11	,	,	PUNCT
cblr-7808	233	12	the	the	DET
cblr-7808	233	13	long	long	ADJ
cblr-7808	233	14	-	-	PUNCT
cblr-7808	233	15	term	term	NOUN
cblr-7808	233	16	consequences	consequence	NOUN
cblr-7808	233	17	of	of	ADP
cblr-7808	233	18	short	short	ADJ
cblr-7808	233	19	-	-	PUNCT
cblr-7808	233	20	term	term	NOUN
cblr-7808	233	21	incentives	incentive	NOUN
cblr-7808	233	22	15	15	NUM
cblr-7808	233	23	,	,	PUNCT
cblr-7808	233	24	21	21	NUM
cblr-7808	233	25	(	(	PUNCT
cblr-7808	233	26	eur	eur	PROPN
cblr-7808	233	27	.	.	PROPN
cblr-7808	233	28	corp	corp	PROPN
cblr-7808	233	29	.	.	PROPN
cblr-7808	233	30	governance	governance	PROPN
cblr-7808	233	31	inst	inst	PROPN
cblr-7808	233	32	.	.	PROPN
cblr-7808	233	33	,	,	PUNCT
cblr-7808	233	34	fin	fin	NOUN
cblr-7808	233	35	.	.	PUNCT
cblr-7808	233	36	working	working	NOUN
cblr-7808	233	37	paper	paper	PROPN
cblr-7808	233	38	no	no	INTJ
cblr-7808	233	39	.	.	PROPN
cblr-7808	233	40	527/2017	527/2017	NUM
cblr-7808	233	41	,	,	PUNCT
cblr-7808	233	42	june	june	PROPN
cblr-7808	233	43	2020	2020	NUM
cblr-7808	233	44	)	)	PUNCT
cblr-7808	233	45	,	,	PUNCT
cblr-7808	233	46	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3037354	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3037354	PROPN
cblr-7808	233	47	(	(	PUNCT
cblr-7808	233	48	on	on	ADP
cblr-7808	233	49	file	file	NOUN
cblr-7808	233	50	with	with	ADP
cblr-7808	233	51	the	the	DET
cblr-7808	233	52	columbia	columbia	PROPN
cblr-7808	233	53	business	business	PROPN
cblr-7808	233	54	law	law	PROPN
cblr-7808	233	55	review	review	PROPN
cblr-7808	233	56	)	)	PUNCT
cblr-7808	233	57	(	(	PUNCT
cblr-7808	233	58	associating	associate	VERB
cblr-7808	233	59	vesting	vest	VERB
cblr-7808	233	60	with	with	ADP
cblr-7808	233	61	repurchases	repurchase	NOUN
cblr-7808	233	62	and	and	CCONJ
cblr-7808	233	63	mergers	merger	NOUN
cblr-7808	233	64	and	and	CCONJ
cblr-7808	233	65	acquisitions	acquisition	NOUN
cblr-7808	233	66	as	as	ADV
cblr-7808	233	67	well	well	ADV
cblr-7808	233	68	)	)	PUNCT
cblr-7808	233	69	.	.	PUNCT
cblr-7808	234	1	58	58	NUM
cblr-7808	234	2	dirk	dirk	PROPN
cblr-7808	234	3	jenter	jenter	PROPN
cblr-7808	234	4	&	&	CCONJ
cblr-7808	234	5	katharina	katharina	PROPN
cblr-7808	234	6	lewellen	lewellen	PROPN
cblr-7808	234	7	,	,	PUNCT
cblr-7808	234	8	ceo	ceo	NOUN
cblr-7808	234	9	preferences	preference	NOUN
cblr-7808	234	10	and	and	CCONJ
cblr-7808	234	11	acquisitions	acquisition	NOUN
cblr-7808	234	12	,	,	PUNCT
cblr-7808	234	13	70	70	NUM
cblr-7808	234	14	j.	j.	PROPN
cblr-7808	234	15	fin	fin	PROPN
cblr-7808	234	16	.	.	PUNCT
cblr-7808	234	17	2813	2813	NUM
cblr-7808	234	18	,	,	PUNCT
cblr-7808	234	19	2830	2830	NUM
cblr-7808	234	20	(	(	PUNCT
cblr-7808	234	21	2015	2015	NUM
cblr-7808	234	22	)	)	PUNCT
cblr-7808	234	23	.	.	PUNCT
cblr-7808	235	1	kastiel	kastiel	PROPN
cblr-7808	235	2	(	(	PUNCT
cblr-7808	235	3	comment	comment	NOUN
cblr-7808	235	4	)	)	PUNCT
cblr-7808	235	5	1/15/2021	1/15/2021	NUM
cblr-7808	235	6	2:38	2:38	NUM
cblr-7808	235	7	pm	pm	NOUN
cblr-7808	235	8	no	no	INTJ
cblr-7808	235	9	.	.	PUNCT
cblr-7808	236	1	3:834	3:834	NUM
cblr-7808	236	2	]	]	X
cblr-7808	236	3	long	long	ADJ
cblr-7808	236	4	-	-	PUNCT
cblr-7808	236	5	term	term	NOUN
cblr-7808	236	6	bias	bias	NOUN
cblr-7808	236	7	,	,	PUNCT
cblr-7808	236	8	incentives	incentive	NOUN
cblr-7808	236	9	,	,	PUNCT
cblr-7808	236	10	and	and	CCONJ
cblr-7808	236	11	agency	agency	NOUN
cblr-7808	236	12	costs	cost	VERB
cblr-7808	236	13	849	849	NUM
cblr-7808	236	14	2	2	NUM
cblr-7808	236	15	.	.	PUNCT
cblr-7808	236	16	market	market	NOUN
cblr-7808	236	17	signals	signal	NOUN
cblr-7808	236	18	barzuza	barzuza	NOUN
cblr-7808	236	19	and	and	CCONJ
cblr-7808	236	20	talley	talley	NOUN
cblr-7808	236	21	explain	explain	VERB
cblr-7808	236	22	that	that	SCONJ
cblr-7808	236	23	“	"	PUNCT
cblr-7808	236	24	[	[	X
cblr-7808	236	25	w]hile	w]hile	ADJ
cblr-7808	236	26	short	short	ADJ
cblr-7808	236	27	-	-	PUNCT
cblr-7808	236	28	term	term	NOUN
cblr-7808	236	29	bias	bias	NOUN
cblr-7808	236	30	originates	originate	NOUN
cblr-7808	236	31	primarily	primarily	ADV
cblr-7808	236	32	from	from	ADP
cblr-7808	236	33	external	external	ADJ
cblr-7808	236	34	sources	source	NOUN
cblr-7808	236	35	such	such	ADJ
cblr-7808	236	36	as	as	ADP
cblr-7808	236	37	capital	capital	NOUN
cblr-7808	236	38	market	market	NOUN
cblr-7808	236	39	investors	investor	NOUN
cblr-7808	236	40	,	,	PUNCT
cblr-7808	236	41	long	long	ADJ
cblr-7808	236	42	-	-	PUNCT
cblr-7808	236	43	term	term	NOUN
cblr-7808	236	44	bias	bias	NOUN
cblr-7808	236	45	emerges	emerge	VERB
cblr-7808	236	46	internally	internally	ADV
cblr-7808	236	47	,	,	PUNCT
cblr-7808	236	48	from	from	ADP
cblr-7808	236	49	managers	manager	NOUN
cblr-7808	236	50	’	’	PART
cblr-7808	236	51	assessments	assessment	NOUN
cblr-7808	236	52	about	about	ADP
cblr-7808	236	53	their	their	PRON
cblr-7808	236	54	own	own	ADJ
cblr-7808	236	55	long	long	ADJ
cblr-7808	236	56	-	-	PUNCT
cblr-7808	236	57	term	term	NOUN
cblr-7808	236	58	projects	project	NOUN
cblr-7808	236	59	.	.	PUNCT
cblr-7808	237	1	”59	”59	ADJ
cblr-7808	237	2	this	this	DET
cblr-7808	237	3	important	important	ADJ
cblr-7808	237	4	distinction	distinction	NOUN
cblr-7808	237	5	suggests	suggest	VERB
cblr-7808	237	6	that	that	SCONJ
cblr-7808	237	7	“	"	PUNCT
cblr-7808	237	8	managers	manager	NOUN
cblr-7808	237	9	are	be	AUX
cblr-7808	237	10	inclined	incline	VERB
cblr-7808	237	11	to	to	PART
cblr-7808	237	12	be	be	AUX
cblr-7808	237	13	highly	highly	ADV
cblr-7808	237	14	optimistic	optimistic	ADJ
cblr-7808	237	15	in	in	ADP
cblr-7808	237	16	general”60	general”60	PROPN
cblr-7808	237	17	because	because	SCONJ
cblr-7808	237	18	they	they	PRON
cblr-7808	237	19	lack	lack	VERB
cblr-7808	237	20	the	the	DET
cblr-7808	237	21	unbiased	unbiased	ADJ
cblr-7808	237	22	perspective	perspective	NOUN
cblr-7808	237	23	of	of	ADP
cblr-7808	237	24	an	an	DET
cblr-7808	237	25	outsider	outsider	NOUN
cblr-7808	237	26	.	.	PUNCT
cblr-7808	238	1	it	it	PRON
cblr-7808	238	2	also	also	ADV
cblr-7808	238	3	suggests	suggest	VERB
cblr-7808	238	4	that	that	SCONJ
cblr-7808	238	5	investors	investor	NOUN
cblr-7808	238	6	are	be	AUX
cblr-7808	238	7	not	not	PART
cblr-7808	238	8	the	the	DET
cblr-7808	238	9	primary	primary	ADJ
cblr-7808	238	10	cause	cause	NOUN
cblr-7808	238	11	of	of	ADP
cblr-7808	238	12	managerial	managerial	ADJ
cblr-7808	238	13	long	long	ADJ
cblr-7808	238	14	-	-	PUNCT
cblr-7808	238	15	term	term	NOUN
cblr-7808	238	16	bias	bias	NOUN
cblr-7808	238	17	,	,	PUNCT
cblr-7808	238	18	which	which	PRON
cblr-7808	238	19	emerges	emerge	VERB
cblr-7808	238	20	internally	internally	ADV
cblr-7808	238	21	.	.	PUNCT
cblr-7808	239	1	managers	manager	NOUN
cblr-7808	239	2	constantly	constantly	ADV
cblr-7808	239	3	receive	receive	VERB
cblr-7808	239	4	signals	signal	NOUN
cblr-7808	239	5	from	from	ADP
cblr-7808	239	6	investors	investor	NOUN
cblr-7808	239	7	and	and	CCONJ
cblr-7808	239	8	the	the	DET
cblr-7808	239	9	stock	stock	NOUN
cblr-7808	239	10	market.61	market.61	NOUN
cblr-7808	239	11	it	it	PRON
cblr-7808	239	12	can	can	AUX
cblr-7808	239	13	be	be	AUX
cblr-7808	239	14	assumed	assume	VERB
cblr-7808	239	15	that	that	SCONJ
cblr-7808	239	16	,	,	PUNCT
cblr-7808	239	17	due	due	ADP
cblr-7808	239	18	to	to	ADP
cblr-7808	239	19	their	their	PRON
cblr-7808	239	20	overoptimism	overoptimism	NOUN
cblr-7808	239	21	and	and	CCONJ
cblr-7808	239	22	overconfidence	overconfidence	NOUN
cblr-7808	239	23	,	,	PUNCT
cblr-7808	239	24	managers	manager	NOUN
cblr-7808	239	25	with	with	ADP
cblr-7808	239	26	long	long	ADJ
cblr-7808	239	27	-	-	PUNCT
cblr-7808	239	28	term	term	NOUN
cblr-7808	239	29	biases	bias	NOUN
cblr-7808	239	30	are	be	AUX
cblr-7808	239	31	less	less	ADV
cblr-7808	239	32	attentive	attentive	ADJ
cblr-7808	239	33	to	to	ADP
cblr-7808	239	34	external	external	ADJ
cblr-7808	239	35	signals	signal	NOUN
cblr-7808	239	36	,	,	PUNCT
cblr-7808	239	37	whereas	whereas	SCONJ
cblr-7808	239	38	rational	rational	ADJ
cblr-7808	239	39	managers	manager	NOUN
cblr-7808	239	40	respond	respond	VERB
cblr-7808	239	41	to	to	ADP
cblr-7808	239	42	market	market	NOUN
cblr-7808	239	43	signals	signal	NOUN
cblr-7808	239	44	in	in	ADP
cblr-7808	239	45	order	order	NOUN
cblr-7808	239	46	to	to	PART
cblr-7808	239	47	avoid	avoid	VERB
cblr-7808	239	48	the	the	DET
cblr-7808	239	49	risk	risk	NOUN
cblr-7808	239	50	of	of	ADP
cblr-7808	239	51	early	early	ADJ
cblr-7808	239	52	termination.62	termination.62	NOUN
cblr-7808	239	53	the	the	DET
cblr-7808	239	54	question	question	NOUN
cblr-7808	239	55	of	of	ADP
cblr-7808	239	56	the	the	DET
cblr-7808	239	57	extent	extent	NOUN
cblr-7808	239	58	to	to	PART
cblr-7808	239	59	which	which	PRON
cblr-7808	239	60	managers	manager	NOUN
cblr-7808	239	61	can	can	AUX
cblr-7808	239	62	ignore	ignore	VERB
cblr-7808	239	63	market	market	NOUN
cblr-7808	239	64	signals	signal	NOUN
cblr-7808	239	65	and	and	CCONJ
cblr-7808	239	66	bear	bear	VERB
cblr-7808	239	67	the	the	DET
cblr-7808	239	68	price	price	NOUN
cblr-7808	239	69	associated	associate	VERB
cblr-7808	239	70	with	with	ADP
cblr-7808	239	71	inattentiveness	inattentiveness	NOUN
cblr-7808	239	72	to	to	ADP
cblr-7808	239	73	the	the	DET
cblr-7808	239	74	market	market	NOUN
cblr-7808	239	75	is	be	AUX
cblr-7808	239	76	,	,	PUNCT
cblr-7808	239	77	ultimately	ultimately	ADV
cblr-7808	239	78	,	,	PUNCT
cblr-7808	239	79	an	an	DET
cblr-7808	239	80	empirical	empirical	ADJ
cblr-7808	239	81	one	one	NUM
cblr-7808	239	82	.	.	PUNCT
cblr-7808	240	1	existing	exist	VERB
cblr-7808	240	2	evidence	evidence	NOUN
cblr-7808	240	3	supports	support	VERB
cblr-7808	240	4	the	the	DET
cblr-7808	240	5	view	view	NOUN
cblr-7808	240	6	that	that	SCONJ
cblr-7808	240	7	,	,	PUNCT
cblr-7808	240	8	in	in	ADP
cblr-7808	240	9	general	general	ADJ
cblr-7808	240	10	,	,	PUNCT
cblr-7808	240	11	managers	manager	NOUN
cblr-7808	240	12	do	do	AUX
cblr-7808	240	13	respond	respond	VERB
cblr-7808	240	14	to	to	ADP
cblr-7808	240	15	market	market	NOUN
cblr-7808	240	16	signals	signal	NOUN
cblr-7808	240	17	.	.	PUNCT
cblr-7808	241	1	for	for	ADP
cblr-7808	241	2	example	example	NOUN
cblr-7808	241	3	,	,	PUNCT
cblr-7808	241	4	a	a	DET
cblr-7808	241	5	study	study	NOUN
cblr-7808	241	6	by	by	ADP
cblr-7808	241	7	kau	kau	PROPN
cblr-7808	241	8	,	,	PUNCT
cblr-7808	241	9	linck	linck	PROPN
cblr-7808	241	10	,	,	PUNCT
cblr-7808	241	11	and	and	CCONJ
cblr-7808	241	12	rubin	rubin	PROPN
cblr-7808	241	13	examined	examine	VERB
cblr-7808	241	14	whether	whether	SCONJ
cblr-7808	241	15	a	a	DET
cblr-7808	241	16	negative	negative	ADJ
cblr-7808	241	17	market	market	NOUN
cblr-7808	241	18	response	response	NOUN
cblr-7808	241	19	to	to	ADP
cblr-7808	241	20	an	an	DET
cblr-7808	241	21	announced	announce	VERB
cblr-7808	241	22	investment	investment	NOUN
cblr-7808	241	23	affects	affect	VERB
cblr-7808	241	24	the	the	DET
cblr-7808	241	25	probability	probability	NOUN
cblr-7808	241	26	of	of	ADP
cblr-7808	241	27	the	the	DET
cblr-7808	241	28	same	same	ADJ
cblr-7808	241	29	investment	investment	NOUN
cblr-7808	241	30	being	be	AUX
cblr-7808	241	31	executed	execute	VERB
cblr-7808	241	32	.	.	PUNCT
cblr-7808	242	1	they	they	PRON
cblr-7808	242	2	found	find	VERB
cblr-7808	242	3	that	that	SCONJ
cblr-7808	242	4	“	"	PUNCT
cblr-7808	242	5	managers	manager	NOUN
cblr-7808	242	6	are	be	AUX
cblr-7808	242	7	more	more	ADV
cblr-7808	242	8	likely	likely	ADJ
cblr-7808	242	9	to	to	PART
cblr-7808	242	10	cancel	cancel	VERB
cblr-7808	242	11	investments	investment	NOUN
cblr-7808	242	12	when	when	SCONJ
cblr-7808	242	13	the	the	DET
cblr-7808	242	14	market	market	NOUN
cblr-7808	242	15	reacts	react	VERB
cblr-7808	242	16	unfavorably	unfavorably	ADV
cblr-7808	242	17	to	to	ADP
cblr-7808	242	18	the	the	DET
cblr-7808	242	19	investment	investment	NOUN
cblr-7808	242	20	’s	’s	PART
cblr-7808	242	21	announcement	announcement	NOUN
cblr-7808	242	22	”	"	PUNCT
cblr-7808	242	23	and	and	CCONJ
cblr-7808	242	24	that	that	SCONJ
cblr-7808	242	25	“	"	PUNCT
cblr-7808	242	26	[	[	X
cblr-7808	242	27	d]eals	d]eal	NOUN
cblr-7808	242	28	that	that	SCONJ
cblr-7808	242	29	the	the	DET
cblr-7808	242	30	market	market	NOUN
cblr-7808	242	31	predicts	predict	VERB
cblr-7808	242	32	to	to	ADP
cblr-7808	242	33	59	59	NUM
cblr-7808	242	34	barzuza	barzuza	NOUN
cblr-7808	242	35	&	&	CCONJ
cblr-7808	242	36	talley	talley	PROPN
cblr-7808	242	37	,	,	PUNCT
cblr-7808	242	38	supra	supra	PROPN
cblr-7808	242	39	note	note	PROPN
cblr-7808	242	40	6	6	NUM
cblr-7808	242	41	,	,	PUNCT
cblr-7808	242	42	at	at	ADP
cblr-7808	242	43	112	112	NUM
cblr-7808	242	44	(	(	PUNCT
cblr-7808	242	45	emphasis	emphasis	NOUN
cblr-7808	242	46	added	add	VERB
cblr-7808	242	47	)	)	PUNCT
cblr-7808	242	48	.	.	PUNCT
cblr-7808	243	1	60	60	NUM
cblr-7808	244	1	i	i	PRON
cblr-7808	244	2	d.	d.	PROPN
cblr-7808	244	3	61	61	NUM
cblr-7808	244	4	see	see	VERB
cblr-7808	244	5	jeffrey	jeffrey	PROPN
cblr-7808	244	6	n.	n.	PROPN
cblr-7808	244	7	gordon	gordon	PROPN
cblr-7808	244	8	,	,	PUNCT
cblr-7808	244	9	the	the	DET
cblr-7808	244	10	rise	rise	NOUN
cblr-7808	244	11	of	of	ADP
cblr-7808	244	12	independent	independent	ADJ
cblr-7808	244	13	directors	director	NOUN
cblr-7808	244	14	in	in	ADP
cblr-7808	244	15	the	the	DET
cblr-7808	244	16	united	united	PROPN
cblr-7808	244	17	states	states	PROPN
cblr-7808	244	18	,	,	PUNCT
cblr-7808	244	19	1950	1950	NUM
cblr-7808	244	20	-	-	SYM
cblr-7808	244	21	2005	2005	NUM
cblr-7808	244	22	:	:	PUNCT
cblr-7808	244	23	of	of	ADP
cblr-7808	244	24	shareholder	shareholder	NOUN
cblr-7808	244	25	value	value	NOUN
cblr-7808	244	26	and	and	CCONJ
cblr-7808	244	27	stock	stock	NOUN
cblr-7808	244	28	market	market	NOUN
cblr-7808	244	29	prices	price	NOUN
cblr-7808	244	30	,	,	PUNCT
cblr-7808	244	31	59	59	NUM
cblr-7808	244	32	stan	stan	PROPN
cblr-7808	244	33	.	.	PUNCT
cblr-7808	245	1	l.	l.	PROPN
cblr-7808	245	2	rev	rev	PROPN
cblr-7808	245	3	.	.	PROPN
cblr-7808	245	4	1465	1465	NUM
cblr-7808	245	5	,	,	PUNCT
cblr-7808	245	6	1541–43	1541–43	NUM
cblr-7808	245	7	(	(	PUNCT
cblr-7808	245	8	2007	2007	NUM
cblr-7808	245	9	)	)	PUNCT
cblr-7808	245	10	(	(	PUNCT
cblr-7808	245	11	describing	describe	VERB
cblr-7808	245	12	the	the	DET
cblr-7808	245	13	reliability	reliability	NOUN
cblr-7808	245	14	and	and	CCONJ
cblr-7808	245	15	use	use	NOUN
cblr-7808	245	16	of	of	ADP
cblr-7808	245	17	stock	stock	NOUN
cblr-7808	245	18	market	market	NOUN
cblr-7808	245	19	signals	signal	NOUN
cblr-7808	245	20	)	)	PUNCT
cblr-7808	245	21	.	.	PUNCT
cblr-7808	246	1	62	62	NUM
cblr-7808	246	2	see	see	VERB
cblr-7808	246	3	i	i	PRON
cblr-7808	246	4	d.	d.	PROPN
cblr-7808	246	5	at	at	ADP
cblr-7808	246	6	1531	1531	NUM
cblr-7808	246	7	(	(	PUNCT
cblr-7808	246	8	“	"	PUNCT
cblr-7808	246	9	the	the	DET
cblr-7808	246	10	second	second	ADJ
cblr-7808	246	11	strategic	strategic	ADJ
cblr-7808	246	12	element	element	NOUN
cblr-7808	246	13	of	of	ADP
cblr-7808	246	14	the	the	DET
cblr-7808	246	15	1990s	1990	NOUN
cblr-7808	246	16	boards	board	NOUN
cblr-7808	246	17	’	'	PUNCT
cblr-7808	246	18	focus	focus	VERB
cblr-7808	246	19	on	on	ADP
cblr-7808	246	20	shareholder	shareholder	NOUN
cblr-7808	246	21	value	value	NOUN
cblr-7808	246	22	was	be	AUX
cblr-7808	246	23	increasingly	increasingly	ADV
cblr-7808	246	24	to	to	PART
cblr-7808	246	25	evaluate	evaluate	VERB
cblr-7808	246	26	ceo	ceo	NOUN
cblr-7808	246	27	performance	performance	NOUN
cblr-7808	246	28	with	with	ADP
cblr-7808	246	29	respect	respect	NOUN
cblr-7808	246	30	to	to	ADP
cblr-7808	246	31	shareholder	shareholder	NOUN
cblr-7808	246	32	returns	return	NOUN
cblr-7808	246	33	and	and	CCONJ
cblr-7808	246	34	to	to	PART
cblr-7808	246	35	terminate	terminate	VERB
cblr-7808	246	36	more	more	ADV
cblr-7808	246	37	quickly	quickly	ADV
cblr-7808	246	38	.	.	PUNCT
cblr-7808	246	39	”	"	PUNCT
cblr-7808	246	40	)	)	PUNCT
cblr-7808	246	41	.	.	PUNCT
cblr-7808	247	1	for	for	ADP
cblr-7808	247	2	empirical	empirical	ADJ
cblr-7808	247	3	evidence	evidence	NOUN
cblr-7808	247	4	on	on	ADP
cblr-7808	247	5	the	the	DET
cblr-7808	247	6	increased	increase	VERB
cblr-7808	247	7	riskiness	riskiness	NOUN
cblr-7808	247	8	of	of	ADP
cblr-7808	247	9	the	the	DET
cblr-7808	247	10	ceo	ceo	NOUN
cblr-7808	247	11	job	job	NOUN
cblr-7808	247	12	,	,	PUNCT
cblr-7808	247	13	see	see	VERB
cblr-7808	247	14	steven	steven	PROPN
cblr-7808	247	15	n.	n.	PROPN
cblr-7808	247	16	kaplan	kaplan	PROPN
cblr-7808	247	17	,	,	PUNCT
cblr-7808	247	18	ceo	ceo	NOUN
cblr-7808	247	19	pay	pay	NOUN
cblr-7808	247	20	and	and	CCONJ
cblr-7808	247	21	corporate	corporate	ADJ
cblr-7808	247	22	governance	governance	NOUN
cblr-7808	247	23	in	in	ADP
cblr-7808	247	24	the	the	DET
cblr-7808	247	25	u.s	u.s	PROPN
cblr-7808	247	26	.	.	PROPN
cblr-7808	247	27	:	:	PUNCT
cblr-7808	247	28	perceptions	perception	NOUN
cblr-7808	247	29	,	,	PUNCT
cblr-7808	247	30	facts	fact	NOUN
cblr-7808	247	31	,	,	PUNCT
cblr-7808	247	32	and	and	CCONJ
cblr-7808	247	33	challenges	challenge	NOUN
cblr-7808	247	34	,	,	PUNCT
cblr-7808	247	35	25	25	NUM
cblr-7808	247	36	j.	j.	PROPN
cblr-7808	247	37	applied	applied	PROPN
cblr-7808	247	38	corp	corp	PROPN
cblr-7808	247	39	.	.	PROPN
cblr-7808	247	40	fin	fin	PROPN
cblr-7808	247	41	.	.	PUNCT
cblr-7808	247	42	,	,	PUNCT
cblr-7808	247	43	summer	summer	NOUN
cblr-7808	247	44	2013	2013	NUM
cblr-7808	247	45	,	,	PUNCT
cblr-7808	247	46	at	at	ADP
cblr-7808	247	47	8	8	NUM
cblr-7808	247	48	,	,	PUNCT
cblr-7808	247	49	15	15	NUM
cblr-7808	247	50	,	,	PUNCT
cblr-7808	247	51	16	16	NUM
cblr-7808	247	52	&	&	CCONJ
cblr-7808	247	53	fig.10	fig.10	PROPN
cblr-7808	247	54	.	.	PUNCT
cblr-7808	248	1	kastiel	kastiel	PROPN
cblr-7808	248	2	(	(	PUNCT
cblr-7808	248	3	comment	comment	NOUN
cblr-7808	248	4	)	)	PUNCT
cblr-7808	248	5	1/15/2021	1/15/2021	NUM
cblr-7808	248	6	2:38	2:38	NUM
cblr-7808	248	7	pm	pm	NOUN
cblr-7808	248	8	850	850	NUM
cblr-7808	248	9	columbia	columbia	PROPN
cblr-7808	248	10	business	business	NOUN
cblr-7808	248	11	law	law	PROPN
cblr-7808	248	12	review	review	NOUN
cblr-7808	249	1	[	[	X
cblr-7808	249	2	vol	vol	NOUN
cblr-7808	249	3	.	.	PUNCT
cblr-7808	249	4	2020	2020	NUM
cblr-7808	249	5	have	have	VERB
cblr-7808	249	6	higher	high	ADJ
cblr-7808	249	7	returns	return	NOUN
cblr-7808	249	8	are	be	AUX
cblr-7808	249	9	more	more	ADV
cblr-7808	249	10	likely	likely	ADJ
cblr-7808	249	11	to	to	PART
cblr-7808	249	12	be	be	AUX
cblr-7808	249	13	completed	complete	VERB
cblr-7808	249	14	than	than	ADP
cblr-7808	249	15	deals	deal	NOUN
cblr-7808	249	16	with	with	ADP
cblr-7808	249	17	lower	low	ADJ
cblr-7808	249	18	market	market	NOUN
cblr-7808	249	19	returns	return	NOUN
cblr-7808	249	20	.	.	PUNCT
cblr-7808	250	1	”63	”63	NOUN
cblr-7808	250	2	they	they	PRON
cblr-7808	250	3	also	also	ADV
cblr-7808	250	4	demonstrate	demonstrate	VERB
cblr-7808	250	5	“	"	PUNCT
cblr-7808	250	6	that	that	SCONJ
cblr-7808	250	7	managers	manager	NOUN
cblr-7808	250	8	are	be	AUX
cblr-7808	250	9	more	more	ADV
cblr-7808	250	10	likely	likely	ADJ
cblr-7808	250	11	to	to	PART
cblr-7808	250	12	listen	listen	VERB
cblr-7808	250	13	to	to	ADP
cblr-7808	250	14	markets	market	NOUN
cblr-7808	250	15	when	when	SCONJ
cblr-7808	250	16	their	their	PRON
cblr-7808	250	17	pay	pay	NOUN
cblr-7808	250	18	is	be	AUX
cblr-7808	250	19	more	more	ADV
cblr-7808	250	20	sensitive	sensitive	ADJ
cblr-7808	250	21	to	to	ADP
cblr-7808	250	22	performance	performance	NOUN
cblr-7808	250	23	.	.	PUNCT
cblr-7808	251	1	”64	”64	PROPN
cblr-7808	251	2	another	another	DET
cblr-7808	251	3	study	study	NOUN
cblr-7808	251	4	found	find	VERB
cblr-7808	251	5	similar	similar	ADJ
cblr-7808	251	6	results	result	NOUN
cblr-7808	251	7	,	,	PUNCT
cblr-7808	251	8	suggesting	suggest	VERB
cblr-7808	251	9	that	that	SCONJ
cblr-7808	251	10	executives	executive	NOUN
cblr-7808	251	11	learn	learn	VERB
cblr-7808	251	12	from	from	ADP
cblr-7808	251	13	stock	stock	NOUN
cblr-7808	251	14	market	market	NOUN
cblr-7808	251	15	reactions	reaction	NOUN
cblr-7808	251	16	to	to	ADP
cblr-7808	251	17	merger	merger	NOUN
cblr-7808	251	18	and	and	CCONJ
cblr-7808	251	19	acquisition	acquisition	NOUN
cblr-7808	251	20	(	(	PUNCT
cblr-7808	251	21	m&a	m&a	PROPN
cblr-7808	251	22	)	)	PUNCT
cblr-7808	251	23	announcements	announcement	NOUN
cblr-7808	251	24	,	,	PUNCT
cblr-7808	251	25	and	and	CCONJ
cblr-7808	251	26	,	,	PUNCT
cblr-7808	251	27	consequently	consequently	ADV
cblr-7808	251	28	,	,	PUNCT
cblr-7808	251	29	that	that	SCONJ
cblr-7808	251	30	those	those	DET
cblr-7808	251	31	reactions	reaction	NOUN
cblr-7808	251	32	can	can	AUX
cblr-7808	251	33	predict	predict	VERB
cblr-7808	251	34	the	the	DET
cblr-7808	251	35	probability	probability	NOUN
cblr-7808	251	36	of	of	ADP
cblr-7808	251	37	the	the	DET
cblr-7808	251	38	completion	completion	NOUN
cblr-7808	251	39	of	of	ADP
cblr-7808	251	40	an	an	DET
cblr-7808	251	41	m&a	m&a	PROPN
cblr-7808	251	42	transaction.65	transaction.65	PROPN
cblr-7808	251	43	more	more	ADV
cblr-7808	251	44	specifically	specifically	ADV
cblr-7808	251	45	,	,	PUNCT
cblr-7808	251	46	using	use	VERB
cblr-7808	251	47	a	a	DET
cblr-7808	251	48	large	large	ADJ
cblr-7808	251	49	sample	sample	NOUN
cblr-7808	251	50	of	of	ADP
cblr-7808	251	51	domestic	domestic	ADJ
cblr-7808	251	52	m&a	m&a	PROPN
cblr-7808	251	53	transactions	transaction	NOUN
cblr-7808	251	54	,	,	PUNCT
cblr-7808	251	55	the	the	DET
cblr-7808	251	56	study	study	NOUN
cblr-7808	251	57	found	find	VERB
cblr-7808	251	58	that	that	SCONJ
cblr-7808	251	59	“	"	PUNCT
cblr-7808	251	60	the	the	DET
cblr-7808	251	61	combined	combined	ADJ
cblr-7808	251	62	bidder	bidder	NOUN
cblr-7808	251	63	and	and	CCONJ
cblr-7808	251	64	target	target	VERB
cblr-7808	251	65	abnormal	abnormal	ADJ
cblr-7808	251	66	return	return	NOUN
cblr-7808	251	67	around	around	ADP
cblr-7808	251	68	the	the	DET
cblr-7808	251	69	announcement	announcement	NOUN
cblr-7808	251	70	predicts	predict	VERB
cblr-7808	251	71	whether	whether	SCONJ
cblr-7808	251	72	the	the	DET
cblr-7808	251	73	companies	company	NOUN
cblr-7808	251	74	will	will	AUX
cblr-7808	251	75	later	later	ADV
cblr-7808	251	76	consummate	consummate	VERB
cblr-7808	251	77	the	the	DET
cblr-7808	251	78	deal	deal	NOUN
cblr-7808	251	79	.	.	PUNCT
cblr-7808	252	1	”66	”66	NOUN
cblr-7808	252	2	finally	finally	ADV
cblr-7808	252	3	,	,	PUNCT
cblr-7808	252	4	a	a	DET
cblr-7808	252	5	third	third	ADJ
cblr-7808	252	6	study	study	NOUN
cblr-7808	252	7	suggests	suggest	VERB
cblr-7808	252	8	that	that	SCONJ
cblr-7808	252	9	managers	manager	NOUN
cblr-7808	252	10	suffer	suffer	VERB
cblr-7808	252	11	from	from	ADP
cblr-7808	252	12	two	two	NUM
cblr-7808	252	13	types	type	NOUN
cblr-7808	252	14	of	of	ADP
cblr-7808	252	15	losses	loss	NOUN
cblr-7808	252	16	when	when	SCONJ
cblr-7808	252	17	announcing	announce	VERB
cblr-7808	252	18	a	a	DET
cblr-7808	252	19	value	value	NOUN
cblr-7808	252	20	-	-	PUNCT
cblr-7808	252	21	decreasing	decrease	VERB
cblr-7808	252	22	acquisition	acquisition	NOUN
cblr-7808	252	23	.	.	PUNCT
cblr-7808	253	1	one	one	NUM
cblr-7808	253	2	type	type	NOUN
cblr-7808	253	3	of	of	ADP
cblr-7808	253	4	loss	loss	NOUN
cblr-7808	253	5	is	be	AUX
cblr-7808	253	6	that	that	PRON
cblr-7808	253	7	of	of	ADP
cblr-7808	253	8	the	the	DET
cblr-7808	253	9	tangible	tangible	ADJ
cblr-7808	253	10	capital	capital	NOUN
cblr-7808	253	11	possessed	possess	VERB
cblr-7808	253	12	through	through	ADP
cblr-7808	253	13	shares	share	NOUN
cblr-7808	253	14	in	in	ADP
cblr-7808	253	15	the	the	DET
cblr-7808	253	16	company.67	company.67	NOUN
cblr-7808	253	17	the	the	DET
cblr-7808	253	18	second	second	ADJ
cblr-7808	253	19	type	type	NOUN
cblr-7808	253	20	of	of	ADP
cblr-7808	253	21	loss	loss	NOUN
cblr-7808	253	22	involves	involve	VERB
cblr-7808	253	23	damage	damage	NOUN
cblr-7808	253	24	to	to	ADP
cblr-7808	253	25	human	human	ADJ
cblr-7808	253	26	capital	capital	NOUN
cblr-7808	253	27	in	in	ADP
cblr-7808	253	28	the	the	DET
cblr-7808	253	29	form	form	NOUN
cblr-7808	253	30	of	of	ADP
cblr-7808	253	31	managers	manager	NOUN
cblr-7808	253	32	’	'	PUNCT
cblr-7808	253	33	reputations.68	reputations.68	NOUN
cblr-7808	253	34	after	after	ADP
cblr-7808	253	35	examining	examine	VERB
cblr-7808	253	36	636	636	NUM
cblr-7808	253	37	proposed	propose	VERB
cblr-7808	253	38	m&a	m&a	PROPN
cblr-7808	253	39	transactions	transaction	NOUN
cblr-7808	253	40	which	which	PRON
cblr-7808	253	41	triggered	trigger	VERB
cblr-7808	253	42	a	a	DET
cblr-7808	253	43	negative	negative	ADJ
cblr-7808	253	44	stock	stock	NOUN
cblr-7808	253	45	market	market	NOUN
cblr-7808	253	46	reaction	reaction	NOUN
cblr-7808	253	47	,	,	PUNCT
cblr-7808	253	48	the	the	DET
cblr-7808	253	49	study	study	NOUN
cblr-7808	253	50	found	find	VERB
cblr-7808	253	51	that	that	SCONJ
cblr-7808	253	52	the	the	DET
cblr-7808	253	53	“	"	PUNCT
cblr-7808	253	54	level	level	NOUN
cblr-7808	253	55	of	of	ADP
cblr-7808	253	56	media	medium	NOUN
cblr-7808	253	57	attention	attention	NOUN
cblr-7808	253	58	and	and	CCONJ
cblr-7808	253	59	the	the	DET
cblr-7808	253	60	tone	tone	NOUN
cblr-7808	253	61	of	of	ADP
cblr-7808	253	62	media	medium	NOUN
cblr-7808	253	63	coverage	coverage	NOUN
cblr-7808	253	64	play	play	VERB
cblr-7808	253	65	an	an	DET
cblr-7808	253	66	important	important	ADJ
cblr-7808	253	67	role	role	NOUN
cblr-7808	253	68	in	in	ADP
cblr-7808	253	69	managers	manager	NOUN
cblr-7808	253	70	’	’	PART
cblr-7808	253	71	decisions	decision	NOUN
cblr-7808	253	72	to	to	PART
cblr-7808	253	73	abandon	abandon	VERB
cblr-7808	253	74	value	value	NOUN
cblr-7808	253	75	-	-	PUNCT
cblr-7808	253	76	reducing	reduce	VERB
cblr-7808	253	77	acquisition	acquisition	NOUN
cblr-7808	253	78	attempts	attempt	NOUN
cblr-7808	253	79	.	.	PUNCT
cblr-7808	254	1	”69	”69	VERB
cblr-7808	254	2	thus	thus	ADV
cblr-7808	254	3	,	,	PUNCT
cblr-7808	254	4	the	the	DET
cblr-7808	254	5	empirical	empirical	ADJ
cblr-7808	254	6	evidence	evidence	NOUN
cblr-7808	254	7	presented	present	VERB
cblr-7808	254	8	in	in	ADP
cblr-7808	254	9	this	this	DET
cblr-7808	254	10	section	section	NOUN
cblr-7808	254	11	suggests	suggest	VERB
cblr-7808	254	12	that	that	SCONJ
cblr-7808	254	13	when	when	SCONJ
cblr-7808	254	14	the	the	DET
cblr-7808	254	15	market	market	NOUN
cblr-7808	254	16	clearly	clearly	ADV
cblr-7808	254	17	disfavors	disfavor	VERB
cblr-7808	254	18	a	a	DET
cblr-7808	254	19	transaction	transaction	NOUN
cblr-7808	254	20	,	,	PUNCT
cblr-7808	254	21	managers	manager	NOUN
cblr-7808	254	22	are	be	AUX
cblr-7808	254	23	reluctant	reluctant	ADJ
cblr-7808	254	24	to	to	PART
cblr-7808	254	25	ignore	ignore	VERB
cblr-7808	254	26	that	that	DET
cblr-7808	254	27	signal	signal	NOUN
cblr-7808	254	28	.	.	PUNCT
cblr-7808	255	1	when	when	SCONJ
cblr-7808	255	2	clear	clear	ADJ
cblr-7808	255	3	financial	financial	ADJ
cblr-7808	255	4	interests	interest	NOUN
cblr-7808	255	5	are	be	AUX
cblr-7808	255	6	at	at	ADP
cblr-7808	255	7	stake	stake	NOUN
cblr-7808	255	8	,	,	PUNCT
cblr-7808	255	9	managers	manager	NOUN
cblr-7808	255	10	’	'	PUNCT
cblr-7808	255	11	behavioral	behavioral	ADJ
cblr-7808	255	12	biases	bias	NOUN
cblr-7808	255	13	are	be	AUX
cblr-7808	255	14	less	less	ADV
cblr-7808	255	15	severe	severe	ADJ
cblr-7808	255	16	.	.	PUNCT
cblr-7808	256	1	63	63	NUM
cblr-7808	256	2	kau	kau	PROPN
cblr-7808	256	3	et	et	PROPN
cblr-7808	256	4	al	al	PROPN
cblr-7808	256	5	.	.	PROPN
cblr-7808	256	6	,	,	PUNCT
cblr-7808	256	7	supra	supra	PROPN
cblr-7808	256	8	note	note	PROPN
cblr-7808	256	9	15	15	NUM
cblr-7808	256	10	,	,	PUNCT
cblr-7808	256	11	at	at	ADP
cblr-7808	256	12	348	348	NUM
cblr-7808	256	13	,	,	PUNCT
cblr-7808	256	14	361	361	NUM
cblr-7808	256	15	.	.	NUM
cblr-7808	256	16	64	64	NUM
cblr-7808	257	1	i	i	PRON
cblr-7808	257	2	d.	d.	NOUN
cblr-7808	257	3	at	at	ADP
cblr-7808	257	4	361	361	NUM
cblr-7808	257	5	.	.	PUNCT
cblr-7808	258	1	65	65	NUM
cblr-7808	258	2	see	see	VERB
cblr-7808	258	3	luo	luo	PROPN
cblr-7808	258	4	,	,	PUNCT
cblr-7808	258	5	supra	supra	PROPN
cblr-7808	258	6	note	note	PROPN
cblr-7808	258	7	15	15	NUM
cblr-7808	258	8	,	,	PUNCT
cblr-7808	258	9	at	at	ADP
cblr-7808	258	10	1951–54	1951–54	NUM
cblr-7808	258	11	.	.	PUNCT
cblr-7808	259	1	66	66	NUM
cblr-7808	260	1	i	i	PRON
cblr-7808	260	2	d.	d.	PROPN
cblr-7808	260	3	at	at	ADP
cblr-7808	260	4	1978	1978	NUM
cblr-7808	260	5	.	.	PUNCT
cblr-7808	261	1	67	67	NUM
cblr-7808	261	2	see	see	VERB
cblr-7808	261	3	liu	liu	PROPN
cblr-7808	261	4	&	&	CCONJ
cblr-7808	261	5	mcconnell	mcconnell	PROPN
cblr-7808	261	6	,	,	PUNCT
cblr-7808	261	7	supra	supra	PROPN
cblr-7808	261	8	note	note	PROPN
cblr-7808	261	9	15	15	NUM
cblr-7808	261	10	,	,	PUNCT
cblr-7808	261	11	at	at	ADP
cblr-7808	261	12	2	2	NUM
cblr-7808	261	13	.	.	PUNCT
cblr-7808	261	14	68	68	NUM
cblr-7808	261	15	see	see	VERB
cblr-7808	261	16	i	i	PRON
cblr-7808	261	17	d.	d.	PROPN
cblr-7808	261	18	69	69	NUM
cblr-7808	262	1	i	i	PRON
cblr-7808	262	2	d.	d.	PROPN
cblr-7808	262	3	at	at	ADP
cblr-7808	262	4	2	2	NUM
cblr-7808	262	5	,	,	PUNCT
cblr-7808	262	6	4–5	4–5	PROPN
cblr-7808	262	7	.	.	PUNCT
cblr-7808	262	8	kastiel	kastiel	PROPN
cblr-7808	262	9	(	(	PUNCT
cblr-7808	262	10	comment	comment	NOUN
cblr-7808	262	11	)	)	PUNCT
cblr-7808	262	12	1/15/2021	1/15/2021	NUM
cblr-7808	262	13	2:38	2:38	NUM
cblr-7808	262	14	pm	pm	NOUN
cblr-7808	262	15	no	no	INTJ
cblr-7808	262	16	.	.	PUNCT
cblr-7808	263	1	3:834	3:834	NUM
cblr-7808	263	2	]	]	X
cblr-7808	263	3	long	long	ADJ
cblr-7808	263	4	-	-	PUNCT
cblr-7808	263	5	term	term	NOUN
cblr-7808	263	6	bias	bias	NOUN
cblr-7808	263	7	,	,	PUNCT
cblr-7808	263	8	incentives	incentive	NOUN
cblr-7808	263	9	,	,	PUNCT
cblr-7808	263	10	and	and	CCONJ
cblr-7808	263	11	agency	agency	NOUN
cblr-7808	263	12	costs	cost	VERB
cblr-7808	263	13	851	851	NUM
cblr-7808	263	14	3	3	NUM
cblr-7808	263	15	.	.	PUNCT
cblr-7808	264	1	risk	risk	NOUN
cblr-7808	264	2	of	of	ADP
cblr-7808	264	3	removal	removal	NOUN
cblr-7808	264	4	if	if	SCONJ
cblr-7808	264	5	ceos	ceo	NOUN
cblr-7808	264	6	with	with	ADP
cblr-7808	264	7	long	long	ADJ
cblr-7808	264	8	-	-	PUNCT
cblr-7808	264	9	term	term	NOUN
cblr-7808	264	10	biases	bias	NOUN
cblr-7808	264	11	consistently	consistently	ADV
cblr-7808	264	12	ignore	ignore	VERB
cblr-7808	264	13	market	market	NOUN
cblr-7808	264	14	signals	signal	NOUN
cblr-7808	264	15	and	and	CCONJ
cblr-7808	264	16	pursue	pursue	VERB
cblr-7808	264	17	strategies	strategy	NOUN
cblr-7808	264	18	that	that	PRON
cblr-7808	264	19	harm	harm	VERB
cblr-7808	264	20	shareholders	shareholder	NOUN
cblr-7808	264	21	,	,	PUNCT
cblr-7808	264	22	this	this	PRON
cblr-7808	264	23	will	will	AUX
cblr-7808	264	24	affect	affect	VERB
cblr-7808	264	25	their	their	PRON
cblr-7808	264	26	reputations	reputation	NOUN
cblr-7808	264	27	and	and	CCONJ
cblr-7808	264	28	undermine	undermine	VERB
cblr-7808	264	29	their	their	PRON
cblr-7808	264	30	likelihoods	likelihood	NOUN
cblr-7808	264	31	of	of	ADP
cblr-7808	264	32	retaining	retain	VERB
cblr-7808	264	33	their	their	PRON
cblr-7808	264	34	offices	office	NOUN
cblr-7808	264	35	.	.	PUNCT
cblr-7808	265	1	since	since	SCONJ
cblr-7808	265	2	many	many	ADJ
cblr-7808	265	3	ceos	ceo	NOUN
cblr-7808	265	4	also	also	ADV
cblr-7808	265	5	chair	chair	VERB
cblr-7808	265	6	their	their	PRON
cblr-7808	265	7	boards	board	NOUN
cblr-7808	265	8	,	,	PUNCT
cblr-7808	265	9	shareholders	shareholder	NOUN
cblr-7808	265	10	can	can	AUX
cblr-7808	265	11	vote	vote	VERB
cblr-7808	265	12	against	against	ADP
cblr-7808	265	13	them	they	PRON
cblr-7808	265	14	in	in	ADP
cblr-7808	265	15	a	a	DET
cblr-7808	265	16	corporate	corporate	ADJ
cblr-7808	265	17	election.70	election.70	NOUN
cblr-7808	265	18	even	even	ADV
cblr-7808	265	19	if	if	SCONJ
cblr-7808	265	20	the	the	DET
cblr-7808	265	21	ceo	ceo	NOUN
cblr-7808	265	22	does	do	AUX
cblr-7808	265	23	not	not	PART
cblr-7808	265	24	sit	sit	VERB
cblr-7808	265	25	on	on	ADP
cblr-7808	265	26	the	the	DET
cblr-7808	265	27	board	board	NOUN
cblr-7808	265	28	,	,	PUNCT
cblr-7808	265	29	shareholders	shareholder	NOUN
cblr-7808	265	30	can	can	AUX
cblr-7808	265	31	exercise	exercise	VERB
cblr-7808	265	32	pressure	pressure	NOUN
cblr-7808	265	33	on	on	ADP
cblr-7808	265	34	the	the	DET
cblr-7808	265	35	board	board	NOUN
cblr-7808	265	36	to	to	PART
cblr-7808	265	37	remove	remove	VERB
cblr-7808	265	38	underperforming	underperform	VERB
cblr-7808	265	39	ceos	ceo	NOUN
cblr-7808	265	40	.	.	PUNCT
cblr-7808	266	1	an	an	DET
cblr-7808	266	2	analogy	analogy	NOUN
cblr-7808	266	3	to	to	ADP
cblr-7808	266	4	the	the	DET
cblr-7808	266	5	political	political	ADJ
cblr-7808	266	6	arena	arena	NOUN
cblr-7808	266	7	is	be	AUX
cblr-7808	266	8	useful	useful	ADJ
cblr-7808	266	9	.	.	PUNCT
cblr-7808	267	1	politicians	politician	NOUN
cblr-7808	267	2	,	,	PUNCT
cblr-7808	267	3	like	like	ADP
cblr-7808	267	4	corporate	corporate	ADJ
cblr-7808	267	5	leaders	leader	NOUN
cblr-7808	267	6	,	,	PUNCT
cblr-7808	267	7	are	be	AUX
cblr-7808	267	8	prone	prone	ADJ
cblr-7808	267	9	to	to	ADP
cblr-7808	267	10	over	over	ADP
cblr-7808	267	11	-	-	PUNCT
cblr-7808	267	12	optimism	optimism	NOUN
cblr-7808	267	13	and	and	CCONJ
cblr-7808	267	14	overconfidence.71	overconfidence.71	NOUN
cblr-7808	267	15	these	these	DET
cblr-7808	267	16	biases	bias	NOUN
cblr-7808	267	17	could	could	AUX
cblr-7808	267	18	be	be	AUX
cblr-7808	267	19	even	even	ADV
cblr-7808	267	20	more	more	ADV
cblr-7808	267	21	severe	severe	ADJ
cblr-7808	267	22	in	in	ADP
cblr-7808	267	23	the	the	DET
cblr-7808	267	24	case	case	NOUN
cblr-7808	267	25	of	of	ADP
cblr-7808	267	26	politicians	politician	NOUN
cblr-7808	267	27	because	because	SCONJ
cblr-7808	267	28	many	many	ADJ
cblr-7808	267	29	politicians	politician	NOUN
cblr-7808	267	30	do	do	AUX
cblr-7808	267	31	not	not	PART
cblr-7808	267	32	face	face	VERB
cblr-7808	267	33	outside	outside	ADJ
cblr-7808	267	34	actors	actor	NOUN
cblr-7808	267	35	(	(	PUNCT
cblr-7808	267	36	like	like	ADP
cblr-7808	267	37	activist	activist	ADJ
cblr-7808	267	38	investors	investor	NOUN
cblr-7808	267	39	or	or	CCONJ
cblr-7808	267	40	hostile	hostile	ADJ
cblr-7808	267	41	bidders	bidder	NOUN
cblr-7808	267	42	)	)	PUNCT
cblr-7808	267	43	who	who	PRON
cblr-7808	267	44	can	can	AUX
cblr-7808	267	45	terminate	terminate	VERB
cblr-7808	267	46	politicians	politician	NOUN
cblr-7808	267	47	’	'	PUNCT
cblr-7808	267	48	tenures	tenure	NOUN
cblr-7808	267	49	prematurely.72	prematurely.72	VERB
cblr-7808	267	50	despite	despite	SCONJ
cblr-7808	267	51	the	the	DET
cblr-7808	267	52	potential	potential	ADJ
cblr-7808	267	53	effect	effect	NOUN
cblr-7808	267	54	of	of	ADP
cblr-7808	267	55	over	over	ADP
cblr-7808	267	56	-	-	PUNCT
cblr-7808	267	57	optimism	optimism	NOUN
cblr-7808	267	58	and	and	CCONJ
cblr-7808	267	59	overconfidence	overconfidence	NOUN
cblr-7808	267	60	,	,	PUNCT
cblr-7808	267	61	the	the	DET
cblr-7808	267	62	political	political	ADJ
cblr-7808	267	63	science	science	NOUN
cblr-7808	267	64	literature	literature	NOUN
cblr-7808	267	65	shows	show	VERB
cblr-7808	267	66	that	that	SCONJ
cblr-7808	267	67	politicians	politician	NOUN
cblr-7808	267	68	invest	invest	VERB
cblr-7808	267	69	in	in	ADP
cblr-7808	267	70	short	short	ADJ
cblr-7808	267	71	-	-	PUNCT
cblr-7808	267	72	term	term	NOUN
cblr-7808	267	73	public	public	ADJ
cblr-7808	267	74	goods	good	NOUN
cblr-7808	267	75	even	even	ADV
cblr-7808	267	76	when	when	SCONJ
cblr-7808	267	77	investing	invest	VERB
cblr-7808	267	78	in	in	ADP
cblr-7808	267	79	long	long	ADJ
cblr-7808	267	80	-	-	PUNCT
cblr-7808	267	81	term	term	NOUN
cblr-7808	267	82	public	public	ADJ
cblr-7808	267	83	goods	good	NOUN
cblr-7808	267	84	would	would	AUX
cblr-7808	267	85	be	be	AUX
cblr-7808	267	86	better	well	ADJ
cblr-7808	267	87	for	for	ADP
cblr-7808	267	88	society	society	NOUN
cblr-7808	267	89	.	.	PUNCT
cblr-7808	268	1	this	this	DET
cblr-7808	268	2	phenomenon	phenomenon	NOUN
cblr-7808	268	3	,	,	PUNCT
cblr-7808	268	4	known	know	VERB
cblr-7808	268	5	as	as	ADP
cblr-7808	268	6	“	"	PUNCT
cblr-7808	268	7	political	political	ADJ
cblr-7808	268	8	short	short	ADJ
cblr-7808	268	9	-	-	PUNCT
cblr-7808	268	10	termism,”73	termism,”73	NOUN
cblr-7808	268	11	is	be	AUX
cblr-7808	268	12	motivated	motivate	VERB
cblr-7808	268	13	by	by	ADP
cblr-7808	268	14	politicians	politician	NOUN
cblr-7808	268	15	’	'	PUNCT
cblr-7808	268	16	desires	desire	NOUN
cblr-7808	268	17	to	to	PART
cblr-7808	268	18	be	be	AUX
cblr-7808	268	19	re	re	VERB
cblr-7808	268	20	-	-	VERB
cblr-7808	268	21	elected	elect	VERB
cblr-7808	268	22	and	and	CCONJ
cblr-7808	268	23	voters	voter	NOUN
cblr-7808	268	24	’	’	PART
cblr-7808	268	25	tendencies	tendency	NOUN
cblr-7808	268	26	to	to	PART
cblr-7808	268	27	discount	discount	VERB
cblr-7808	268	28	the	the	DET
cblr-7808	268	29	future	future	NOUN
cblr-7808	268	30	and	and	CCONJ
cblr-7808	268	31	give	give	VERB
cblr-7808	268	32	greater	great	ADJ
cblr-7808	268	33	weight	weight	NOUN
cblr-7808	268	34	to	to	ADP
cblr-7808	268	35	the	the	DET
cblr-7808	268	36	present.74	present.74	NOUN
cblr-7808	268	37	if	if	SCONJ
cblr-7808	268	38	the	the	DET
cblr-7808	268	39	analogy	analogy	NOUN
cblr-7808	268	40	with	with	ADP
cblr-7808	268	41	politicians	politician	NOUN
cblr-7808	268	42	holds	hold	VERB
cblr-7808	268	43	,	,	PUNCT
cblr-7808	268	44	ceos	ceo	NOUN
cblr-7808	268	45	would	would	AUX
cblr-7808	268	46	have	have	VERB
cblr-7808	268	47	no	no	DET
cblr-7808	268	48	incentive	incentive	NOUN
cblr-7808	268	49	to	to	PART
cblr-7808	268	50	act	act	VERB
cblr-7808	268	51	against	against	ADP
cblr-7808	268	52	the	the	DET
cblr-7808	268	53	will	will	NOUN
cblr-7808	268	54	of	of	ADP
cblr-7808	268	55	shareholders	shareholder	NOUN
cblr-7808	268	56	.	.	PUNCT
cblr-7808	269	1	shareholders	shareholder	NOUN
cblr-7808	269	2	could	could	AUX
cblr-7808	269	3	“	"	PUNCT
cblr-7808	269	4	punish	punish	VERB
cblr-7808	269	5	”	"	PUNCT
cblr-7808	269	6	executives	executive	NOUN
cblr-7808	269	7	who	who	PRON
cblr-7808	269	8	try	try	VERB
cblr-7808	269	9	to	to	PART
cblr-7808	269	10	promote	promote	VERB
cblr-7808	269	11	inferior	inferior	ADJ
cblr-7808	269	12	long	long	ADJ
cblr-7808	269	13	70	70	NUM
cblr-7808	269	14	for	for	ADP
cblr-7808	269	15	empirical	empirical	ADJ
cblr-7808	269	16	evidence	evidence	NOUN
cblr-7808	269	17	on	on	ADP
cblr-7808	269	18	the	the	DET
cblr-7808	269	19	number	number	NOUN
cblr-7808	269	20	of	of	ADP
cblr-7808	269	21	ceos	ceo	NOUN
cblr-7808	269	22	who	who	PRON
cblr-7808	269	23	also	also	ADV
cblr-7808	269	24	serve	serve	VERB
cblr-7808	269	25	as	as	ADP
cblr-7808	269	26	chairmen	chairman	NOUN
cblr-7808	269	27	of	of	ADP
cblr-7808	269	28	the	the	DET
cblr-7808	269	29	boards	board	NOUN
cblr-7808	269	30	,	,	PUNCT
cblr-7808	269	31	see	see	VERB
cblr-7808	269	32	matteo	matteo	PROPN
cblr-7808	269	33	tonello	tonello	PROPN
cblr-7808	269	34	,	,	PUNCT
cblr-7808	269	35	the	the	DET
cblr-7808	269	36	conf	conf	NOUN
cblr-7808	269	37	.	.	PUNCT
cblr-7808	270	1	bd	bd	AUX
cblr-7808	270	2	.	.	PROPN
cblr-7808	270	3	,	,	PUNCT
cblr-7808	270	4	corporate	corporate	ADJ
cblr-7808	270	5	board	board	NOUN
cblr-7808	270	6	practices	practice	NOUN
cblr-7808	270	7	in	in	ADP
cblr-7808	270	8	the	the	DET
cblr-7808	270	9	russell	russell	PROPN
cblr-7808	270	10	3000	3000	NUM
cblr-7808	270	11	and	and	CCONJ
cblr-7808	270	12	s&p	s&p	PROPN
cblr-7808	270	13	500	500	NUM
cblr-7808	270	14	,	,	PUNCT
cblr-7808	270	15	at	at	ADP
cblr-7808	270	16	85	85	NUM
cblr-7808	270	17	fig.1.11	fig.1.11	NOUN
cblr-7808	270	18	(	(	PUNCT
cblr-7808	270	19	2019	2019	NUM
cblr-7808	270	20	)	)	PUNCT
cblr-7808	270	21	,	,	PUNCT
cblr-7808	270	22	https://www.russellreynolds.com/en/insights/thoughtleadership/documents/tcb-corporate-board-practices-2019.pdf	https://www.russellreynolds.com/en/insights/thoughtleadership/documents/tcb-corporate-board-practices-2019.pdf	VERB
cblr-7808	270	23	[	[	X
cblr-7808	270	24	https://perma.cc/y4lr-j4cp	https://perma.cc/y4lr-j4cp	PROPN
cblr-7808	270	25	]	]	X
cblr-7808	270	26	.	.	PUNCT
cblr-7808	271	1	71	71	NUM
cblr-7808	271	2	see	see	NOUN
cblr-7808	271	3	generally	generally	ADV
cblr-7808	271	4	pietro	pietro	PROPN
cblr-7808	271	5	ortoleva	ortoleva	PROPN
cblr-7808	271	6	&	&	CCONJ
cblr-7808	271	7	erik	erik	PROPN
cblr-7808	271	8	snowberg	snowberg	PROPN
cblr-7808	271	9	,	,	PUNCT
cblr-7808	271	10	overconfidence	overconfidence	NOUN
cblr-7808	271	11	in	in	ADP
cblr-7808	271	12	political	political	ADJ
cblr-7808	271	13	behavior	behavior	NOUN
cblr-7808	271	14	,	,	PUNCT
cblr-7808	271	15	105	105	NUM
cblr-7808	271	16	am	am	NOUN
cblr-7808	271	17	.	.	PUNCT
cblr-7808	272	1	econ	econ	PROPN
cblr-7808	272	2	.	.	PUNCT
cblr-7808	273	1	rev	rev	PROPN
cblr-7808	273	2	.	.	PROPN
cblr-7808	273	3	504	504	NUM
cblr-7808	273	4	(	(	PUNCT
cblr-7808	273	5	2015	2015	NUM
cblr-7808	273	6	)	)	PUNCT
cblr-7808	273	7	.	.	PUNCT
cblr-7808	274	1	72	72	NUM
cblr-7808	274	2	for	for	ADP
cblr-7808	274	3	a	a	DET
cblr-7808	274	4	discussion	discussion	NOUN
cblr-7808	274	5	of	of	ADP
cblr-7808	274	6	activist	activist	ADJ
cblr-7808	274	7	investors	investor	NOUN
cblr-7808	274	8	,	,	PUNCT
cblr-7808	274	9	see	see	VERB
cblr-7808	274	10	infra	infra	NOUN
cblr-7808	274	11	section	section	NOUN
cblr-7808	274	12	ii.b.4	ii.b.4	NOUN
cblr-7808	274	13	.	.	PUNCT
cblr-7808	275	1	73	73	NUM
cblr-7808	275	2	iconio	iconio	NOUN
cblr-7808	275	3	garrì	garrì	NOUN
cblr-7808	275	4	,	,	PUNCT
cblr-7808	275	5	political	political	ADJ
cblr-7808	275	6	short	short	ADJ
cblr-7808	275	7	-	-	PUNCT
cblr-7808	275	8	termism	termism	NOUN
cblr-7808	275	9	:	:	PUNCT
cblr-7808	275	10	a	a	DET
cblr-7808	275	11	possible	possible	ADJ
cblr-7808	275	12	explanation	explanation	NOUN
cblr-7808	275	13	,	,	PUNCT
cblr-7808	275	14	145	145	NUM
cblr-7808	275	15	pub	pub	NOUN
cblr-7808	275	16	.	.	PUNCT
cblr-7808	276	1	choice	choice	NOUN
cblr-7808	276	2	197	197	NUM
cblr-7808	276	3	,	,	PUNCT
cblr-7808	276	4	198–199	198–199	NUM
cblr-7808	276	5	,	,	PUNCT
cblr-7808	276	6	205	205	NUM
cblr-7808	276	7	(	(	PUNCT
cblr-7808	276	8	2010	2010	NUM
cblr-7808	276	9	)	)	PUNCT
cblr-7808	276	10	.	.	PUNCT
cblr-7808	277	1	74	74	NUM
cblr-7808	277	2	michael	michael	PROPN
cblr-7808	277	3	k.	k.	PROPN
cblr-7808	277	4	mackenzie	mackenzie	PROPN
cblr-7808	277	5	,	,	PUNCT
cblr-7808	277	6	institutional	institutional	ADJ
cblr-7808	277	7	design	design	NOUN
cblr-7808	277	8	and	and	CCONJ
cblr-7808	277	9	sources	source	NOUN
cblr-7808	277	10	of	of	ADP
cblr-7808	277	11	shorttermism	shorttermism	NOUN
cblr-7808	277	12	,	,	PUNCT
cblr-7808	277	13	in	in	ADP
cblr-7808	277	14	institutions	institution	NOUN
cblr-7808	277	15	for	for	ADP
cblr-7808	277	16	future	future	ADJ
cblr-7808	277	17	generations	generation	NOUN
cblr-7808	277	18	24	24	NUM
cblr-7808	277	19	,	,	PUNCT
cblr-7808	277	20	25–27	25–27	NUM
cblr-7808	277	21	(	(	PUNCT
cblr-7808	277	22	iñigo	iñigo	PROPN
cblr-7808	277	23	gonzález	gonzález	PROPN
cblr-7808	277	24	-	-	PUNCT
cblr-7808	277	25	ricoy	ricoy	PROPN
cblr-7808	277	26	&	&	CCONJ
cblr-7808	277	27	axel	axel	PROPN
cblr-7808	277	28	gosseries	gosserie	NOUN
cblr-7808	277	29	eds	eds	PROPN
cblr-7808	277	30	.	.	PROPN
cblr-7808	277	31	,	,	PUNCT
cblr-7808	277	32	2016	2016	NUM
cblr-7808	277	33	)	)	PUNCT
cblr-7808	277	34	.	.	PUNCT
cblr-7808	278	1	kastiel	kastiel	PROPN
cblr-7808	278	2	(	(	PUNCT
cblr-7808	278	3	comment	comment	NOUN
cblr-7808	278	4	)	)	PUNCT
cblr-7808	278	5	1/15/2021	1/15/2021	NUM
cblr-7808	278	6	2:38	2:38	NUM
cblr-7808	278	7	pm	pm	NOUN
cblr-7808	278	8	852	852	NUM
cblr-7808	278	9	columbia	columbia	PROPN
cblr-7808	278	10	business	business	NOUN
cblr-7808	278	11	law	law	PROPN
cblr-7808	278	12	review	review	NOUN
cblr-7808	278	13	[	[	X
cblr-7808	278	14	vol	vol	NOUN
cblr-7808	278	15	.	.	PUNCT
cblr-7808	278	16	2020	2020	NUM
cblr-7808	278	17	term	term	NOUN
cblr-7808	278	18	projects	project	NOUN
cblr-7808	278	19	either	either	CCONJ
cblr-7808	278	20	directly	directly	ADV
cblr-7808	278	21	(	(	PUNCT
cblr-7808	278	22	by	by	ADP
cblr-7808	278	23	voting	vote	VERB
cblr-7808	278	24	against	against	ADP
cblr-7808	278	25	executives	executive	NOUN
cblr-7808	278	26	serving	serve	VERB
cblr-7808	278	27	on	on	ADP
cblr-7808	278	28	the	the	DET
cblr-7808	278	29	board	board	NOUN
cblr-7808	278	30	)	)	PUNCT
cblr-7808	278	31	or	or	CCONJ
cblr-7808	278	32	indirectly	indirectly	ADV
cblr-7808	278	33	(	(	PUNCT
cblr-7808	278	34	by	by	ADP
cblr-7808	278	35	pressing	press	VERB
cblr-7808	278	36	the	the	DET
cblr-7808	278	37	board	board	NOUN
cblr-7808	278	38	to	to	PART
cblr-7808	278	39	replace	replace	VERB
cblr-7808	278	40	the	the	DET
cblr-7808	278	41	ceo).75	ceo).75	NOUN
cblr-7808	278	42	moreover	moreover	ADV
cblr-7808	278	43	,	,	PUNCT
cblr-7808	278	44	a	a	DET
cblr-7808	278	45	large	large	ADJ
cblr-7808	278	46	percentage	percentage	NOUN
cblr-7808	278	47	of	of	ADP
cblr-7808	278	48	public	public	ADJ
cblr-7808	278	49	companies	company	NOUN
cblr-7808	278	50	now	now	ADV
cblr-7808	278	51	hold	hold	VERB
cblr-7808	278	52	corporate	corporate	ADJ
cblr-7808	278	53	elections	election	NOUN
cblr-7808	278	54	on	on	ADP
cblr-7808	278	55	an	an	DET
cblr-7808	278	56	annual	annual	ADJ
cblr-7808	278	57	basis.76	basis.76	NOUN
cblr-7808	278	58	thus	thus	ADV
cblr-7808	278	59	,	,	PUNCT
cblr-7808	278	60	underperforming	underperform	VERB
cblr-7808	278	61	ceos	ceo	NOUN
cblr-7808	278	62	who	who	PRON
cblr-7808	278	63	serve	serve	VERB
cblr-7808	278	64	as	as	ADP
cblr-7808	278	65	directors	director	NOUN
cblr-7808	278	66	,	,	PUNCT
cblr-7808	278	67	as	as	ADV
cblr-7808	278	68	well	well	ADV
cblr-7808	278	69	as	as	ADP
cblr-7808	278	70	the	the	DET
cblr-7808	278	71	directors	director	NOUN
cblr-7808	278	72	who	who	PRON
cblr-7808	278	73	nominated	nominate	VERB
cblr-7808	278	74	them	they	PRON
cblr-7808	278	75	,	,	PUNCT
cblr-7808	278	76	now	now	ADV
cblr-7808	278	77	face	face	VERB
cblr-7808	278	78	the	the	DET
cblr-7808	278	79	threat	threat	NOUN
cblr-7808	278	80	of	of	ADP
cblr-7808	278	81	negative	negative	ADJ
cblr-7808	278	82	votes	vote	NOUN
cblr-7808	278	83	even	even	ADV
cblr-7808	278	84	in	in	ADP
cblr-7808	278	85	uncontested	uncontested	ADJ
cblr-7808	278	86	elections	election	NOUN
cblr-7808	278	87	.	.	PUNCT
cblr-7808	279	1	such	such	ADJ
cblr-7808	279	2	risk	risk	NOUN
cblr-7808	279	3	has	have	AUX
cblr-7808	279	4	been	be	AUX
cblr-7808	279	5	on	on	ADP
cblr-7808	279	6	the	the	DET
cblr-7808	279	7	rise	rise	NOUN
cblr-7808	279	8	in	in	ADP
cblr-7808	279	9	recent	recent	ADJ
cblr-7808	279	10	years	year	NOUN
cblr-7808	279	11	due	due	ADP
cblr-7808	279	12	to	to	ADP
cblr-7808	279	13	increased	increase	VERB
cblr-7808	279	14	shareholder	shareholder	NOUN
cblr-7808	279	15	engagement.77	engagement.77	ADJ
cblr-7808	279	16	the	the	DET
cblr-7808	279	17	number	number	NOUN
cblr-7808	279	18	of	of	ADP
cblr-7808	279	19	directors	director	NOUN
cblr-7808	279	20	(	(	PUNCT
cblr-7808	279	21	including	include	VERB
cblr-7808	279	22	ceos	ceo	NOUN
cblr-7808	279	23	on	on	ADP
cblr-7808	279	24	the	the	DET
cblr-7808	279	25	board	board	NOUN
cblr-7808	279	26	)	)	PUNCT
cblr-7808	279	27	who	who	PRON
cblr-7808	279	28	fail	fail	VERB
cblr-7808	279	29	to	to	PART
cblr-7808	279	30	receive	receive	VERB
cblr-7808	279	31	significant	significant	ADJ
cblr-7808	279	32	support	support	NOUN
cblr-7808	279	33	from	from	ADP
cblr-7808	279	34	their	their	PRON
cblr-7808	279	35	shareholders	shareholder	NOUN
cblr-7808	279	36	has	have	AUX
cblr-7808	279	37	risen	rise	VERB
cblr-7808	279	38	,	,	PUNCT
cblr-7808	279	39	meaning	mean	VERB
cblr-7808	279	40	that	that	SCONJ
cblr-7808	279	41	shareholders	shareholder	NOUN
cblr-7808	279	42	have	have	AUX
cblr-7808	279	43	used	use	VERB
cblr-7808	279	44	their	their	PRON
cblr-7808	279	45	votes	vote	NOUN
cblr-7808	279	46	to	to	PART
cblr-7808	279	47	express	express	VERB
cblr-7808	279	48	meaningful	meaningful	ADJ
cblr-7808	279	49	dissatisfaction	dissatisfaction	NOUN
cblr-7808	279	50	with	with	ADP
cblr-7808	279	51	increasing	increase	VERB
cblr-7808	279	52	frequency.78	frequency.78	PROPN
cblr-7808	279	53	data	datum	NOUN
cblr-7808	279	54	also	also	ADV
cblr-7808	279	55	show	show	VERB
cblr-7808	279	56	that	that	SCONJ
cblr-7808	279	57	“	"	PUNCT
cblr-7808	279	58	there	there	ADV
cblr-7808	279	59	[	[	X
cblr-7808	279	60	is	be	AUX
cblr-7808	279	61	]	]	PUNCT
cblr-7808	279	62	a	a	DET
cblr-7808	279	63	non	non	ADJ
cblr-7808	279	64	-	-	ADJ
cblr-7808	279	65	trivial	trivial	ADJ
cblr-7808	279	66	number	number	NOUN
cblr-7808	279	67	of	of	ADP
cblr-7808	279	68	companies	company	NOUN
cblr-7808	279	69	in	in	ADP
cblr-7808	279	70	which	which	PRON
cblr-7808	279	71	management	management	NOUN
cblr-7808	279	72	fails	fail	VERB
cblr-7808	279	73	to	to	PART
cblr-7808	279	74	receive	receive	VERB
cblr-7808	279	75	significant	significant	ADJ
cblr-7808	279	76	support	support	NOUN
cblr-7808	279	77	”	"	PUNCT
cblr-7808	279	78	on	on	ADP
cblr-7808	279	79	say	say	PROPN
cblr-7808	279	80	-	-	PUNCT
cblr-7808	279	81	on	on	ADP
cblr-7808	279	82	-	-	PUNCT
cblr-7808	279	83	pay	pay	NOUN
cblr-7808	279	84	votes.79	votes.79	NOUN
cblr-7808	279	85	the	the	DET
cblr-7808	279	86	lack	lack	NOUN
cblr-7808	279	87	of	of	ADP
cblr-7808	279	88	significant	significant	ADJ
cblr-7808	279	89	shareholder	shareholder	NOUN
cblr-7808	279	90	support	support	NOUN
cblr-7808	279	91	in	in	ADP
cblr-7808	279	92	these	these	DET
cblr-7808	279	93	votes	vote	NOUN
cblr-7808	279	94	often	often	ADV
cblr-7808	279	95	is	be	AUX
cblr-7808	279	96	a	a	DET
cblr-7808	279	97	75	75	NUM
cblr-7808	279	98	see	see	NOUN
cblr-7808	279	99	marcel	marcel	PROPN
cblr-7808	279	100	kahan	kahan	PROPN
cblr-7808	279	101	&	&	CCONJ
cblr-7808	279	102	edward	edward	PROPN
cblr-7808	279	103	rock	rock	PROPN
cblr-7808	279	104	,	,	PUNCT
cblr-7808	279	105	embattled	embattle	VERB
cblr-7808	279	106	ceos	ceo	NOUN
cblr-7808	279	107	,	,	PUNCT
cblr-7808	279	108	88	88	NUM
cblr-7808	279	109	tex	tex	PROPN
cblr-7808	279	110	.	.	PROPN
cblr-7808	279	111	l.	l.	PROPN
cblr-7808	279	112	rev	rev	PROPN
cblr-7808	279	113	.	.	PROPN
cblr-7808	279	114	987	987	NUM
cblr-7808	279	115	,	,	PUNCT
cblr-7808	279	116	1040	1040	NUM
cblr-7808	279	117	(	(	PUNCT
cblr-7808	279	118	2010	2010	NUM
cblr-7808	279	119	)	)	PUNCT
cblr-7808	279	120	(	(	PUNCT
cblr-7808	279	121	“	"	PUNCT
cblr-7808	279	122	[	[	X
cblr-7808	279	123	t]he	t]he	ADV
cblr-7808	279	124	reduced	reduced	ADJ
cblr-7808	279	125	tenure	tenure	NOUN
cblr-7808	279	126	of	of	ADP
cblr-7808	279	127	ceos	ceos	PROPN
cblr-7808	279	128	.	.	PUNCT
cblr-7808	279	129	.	.	PUNCT
cblr-7808	280	1	.	.	PUNCT
cblr-7808	280	2	suggests	suggest	VERB
cblr-7808	280	3	that	that	SCONJ
cblr-7808	280	4	if	if	SCONJ
cblr-7808	280	5	a	a	DET
cblr-7808	280	6	ceo	ceo	NOUN
cblr-7808	280	7	makes	make	VERB
cblr-7808	280	8	mistakes	mistake	NOUN
cblr-7808	280	9	(	(	PUNCT
cblr-7808	280	10	or	or	CCONJ
cblr-7808	280	11	perhaps	perhaps	ADV
cblr-7808	280	12	just	just	ADV
cblr-7808	280	13	has	have	VERB
cblr-7808	280	14	bad	bad	ADJ
cblr-7808	280	15	luck	luck	NOUN
cblr-7808	280	16	)	)	PUNCT
cblr-7808	280	17	,	,	PUNCT
cblr-7808	280	18	both	both	PRON
cblr-7808	280	19	shareholders	shareholder	NOUN
cblr-7808	280	20	and	and	CCONJ
cblr-7808	280	21	directors	director	NOUN
cblr-7808	280	22	will	will	AUX
cblr-7808	280	23	voice	voice	VERB
cblr-7808	280	24	their	their	PRON
cblr-7808	280	25	criticism	criticism	NOUN
cblr-7808	280	26	sooner	soon	ADV
cblr-7808	280	27	and	and	CCONJ
cblr-7808	280	28	more	more	ADV
cblr-7808	280	29	strongly	strongly	ADV
cblr-7808	280	30	than	than	ADP
cblr-7808	280	31	in	in	ADP
cblr-7808	280	32	the	the	DET
cblr-7808	280	33	days	day	NOUN
cblr-7808	280	34	of	of	ADP
cblr-7808	280	35	yore	yore	NOUN
cblr-7808	280	36	.	.	PUNCT
cblr-7808	280	37	”	"	PUNCT
cblr-7808	280	38	)	)	PUNCT
cblr-7808	280	39	;	;	PUNCT
cblr-7808	280	40	gordon	gordon	PROPN
cblr-7808	280	41	,	,	PUNCT
cblr-7808	280	42	supra	supra	PROPN
cblr-7808	280	43	note	note	PROPN
cblr-7808	280	44	61	61	NUM
cblr-7808	280	45	,	,	PUNCT
cblr-7808	280	46	at	at	ADP
cblr-7808	280	47	1531–34	1531–34	NUM
cblr-7808	280	48	.	.	PUNCT
cblr-7808	281	1	76	76	NUM
cblr-7808	281	2	for	for	ADP
cblr-7808	281	3	example	example	NOUN
cblr-7808	281	4	,	,	PUNCT
cblr-7808	281	5	in	in	ADP
cblr-7808	281	6	2018	2018	NUM
cblr-7808	281	7	,	,	PUNCT
cblr-7808	281	8	about	about	ADV
cblr-7808	281	9	90	90	NUM
cblr-7808	281	10	%	%	NOUN
cblr-7808	281	11	of	of	ADP
cblr-7808	281	12	the	the	DET
cblr-7808	281	13	companies	company	NOUN
cblr-7808	281	14	in	in	ADP
cblr-7808	281	15	the	the	DET
cblr-7808	281	16	s&p	s&p	PROPN
cblr-7808	281	17	500	500	NUM
cblr-7808	281	18	and	and	CCONJ
cblr-7808	281	19	over	over	ADP
cblr-7808	281	20	70	70	NUM
cblr-7808	281	21	%	%	NOUN
cblr-7808	281	22	of	of	ADP
cblr-7808	281	23	the	the	DET
cblr-7808	281	24	companies	company	NOUN
cblr-7808	281	25	in	in	ADP
cblr-7808	281	26	the	the	DET
cblr-7808	281	27	s&p	s&p	PROPN
cblr-7808	281	28	1500	1500	NUM
cblr-7808	281	29	hold	hold	VERB
cblr-7808	281	30	annual	annual	ADJ
cblr-7808	281	31	elections	election	NOUN
cblr-7808	281	32	.	.	PUNCT
cblr-7808	282	1	see	see	VERB
cblr-7808	282	2	david	david	PROPN
cblr-7808	282	3	f.	f.	PROPN
cblr-7808	282	4	larcker	larcker	PROPN
cblr-7808	282	5	&	&	CCONJ
cblr-7808	282	6	brian	brian	PROPN
cblr-7808	282	7	tayan	tayan	PROPN
cblr-7808	282	8	,	,	PUNCT
cblr-7808	282	9	loosey	loosey	NOUN
cblr-7808	282	10	-	-	PUNCT
cblr-7808	282	11	goosey	goosey	NOUN
cblr-7808	282	12	governance	governance	NOUN
cblr-7808	282	13	:	:	PUNCT
cblr-7808	282	14	four	four	NUM
cblr-7808	282	15	misunderstood	misunderstood	ADJ
cblr-7808	282	16	terms	term	NOUN
cblr-7808	282	17	in	in	ADP
cblr-7808	282	18	corporate	corporate	ADJ
cblr-7808	282	19	governance	governance	NOUN
cblr-7808	282	20	9	9	NUM
cblr-7808	282	21	exhibit	exhibit	NOUN
cblr-7808	282	22	2	2	NUM
cblr-7808	282	23	(	(	PUNCT
cblr-7808	282	24	rock	rock	PROPN
cblr-7808	282	25	ctr	ctr	PROPN
cblr-7808	282	26	.	.	PROPN
cblr-7808	283	1	for	for	ADP
cblr-7808	283	2	corp	corp	PROPN
cblr-7808	283	3	.	.	PROPN
cblr-7808	283	4	governance	governance	PROPN
cblr-7808	283	5	,	,	PUNCT
cblr-7808	283	6	stanford	stanford	PROPN
cblr-7808	283	7	univ	univ	PROPN
cblr-7808	283	8	.	.	PROPN
cblr-7808	283	9	,	,	PUNCT
cblr-7808	283	10	stanford	stanford	PROPN
cblr-7808	283	11	closer	close	ADJ
cblr-7808	283	12	look	look	NOUN
cblr-7808	283	13	series	series	PROPN
cblr-7808	283	14	paper	paper	PROPN
cblr-7808	283	15	cgrp79	cgrp79	PROPN
cblr-7808	283	16	,	,	PUNCT
cblr-7808	283	17	oct	oct	PROPN
cblr-7808	283	18	.	.	PROPN
cblr-7808	283	19	7	7	NUM
cblr-7808	283	20	,	,	PUNCT
cblr-7808	283	21	2019	2019	NUM
cblr-7808	283	22	)	)	PUNCT
cblr-7808	283	23	,	,	PUNCT
cblr-7808	283	24	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3463958	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3463958	X
cblr-7808	283	25	(	(	PUNCT
cblr-7808	283	26	on	on	ADP
cblr-7808	283	27	file	file	NOUN
cblr-7808	283	28	with	with	ADP
cblr-7808	283	29	the	the	DET
cblr-7808	283	30	columbia	columbia	PROPN
cblr-7808	283	31	business	business	PROPN
cblr-7808	283	32	law	law	PROPN
cblr-7808	283	33	review	review	PROPN
cblr-7808	283	34	)	)	PUNCT
cblr-7808	283	35	.	.	PUNCT
cblr-7808	284	1	77	77	NUM
cblr-7808	284	2	see	see	VERB
cblr-7808	284	3	kahan	kahan	PROPN
cblr-7808	284	4	&	&	CCONJ
cblr-7808	284	5	rock	rock	PROPN
cblr-7808	284	6	,	,	PUNCT
cblr-7808	284	7	supra	supra	PROPN
cblr-7808	284	8	note	note	NOUN
cblr-7808	284	9	75	75	NUM
cblr-7808	284	10	,	,	PUNCT
cblr-7808	284	11	at	at	ADP
cblr-7808	284	12	1040	1040	NUM
cblr-7808	284	13	.	.	PUNCT
cblr-7808	285	1	78	78	NUM
cblr-7808	285	2	kobi	kobi	PROPN
cblr-7808	285	3	kastiel	kastiel	PROPN
cblr-7808	285	4	&	&	CCONJ
cblr-7808	285	5	yaron	yaron	PROPN
cblr-7808	285	6	nili	nili	PROPN
cblr-7808	285	7	,	,	PUNCT
cblr-7808	285	8	competing	compete	VERB
cblr-7808	285	9	for	for	ADP
cblr-7808	285	10	votes	vote	NOUN
cblr-7808	285	11	,	,	PUNCT
cblr-7808	285	12	10	10	NUM
cblr-7808	285	13	harv	harv	NOUN
cblr-7808	285	14	.	.	PUNCT
cblr-7808	286	1	bus	bus	NOUN
cblr-7808	286	2	.	.	PUNCT
cblr-7808	287	1	l.	l.	PROPN
cblr-7808	287	2	rev	rev	PROPN
cblr-7808	287	3	.	.	PROPN
cblr-7808	287	4	287	287	NUM
cblr-7808	287	5	,	,	PUNCT
cblr-7808	287	6	319–20	319–20	PROPN
cblr-7808	287	7	(	(	PUNCT
cblr-7808	287	8	2020	2020	NUM
cblr-7808	287	9	)	)	PUNCT
cblr-7808	287	10	(	(	PUNCT
cblr-7808	287	11	“	"	PUNCT
cblr-7808	287	12	[	[	X
cblr-7808	287	13	from	from	ADP
cblr-7808	287	14	2015	2015	NUM
cblr-7808	287	15	to	to	ADP
cblr-7808	287	16	2019	2019	NUM
cblr-7808	287	17	]	]	PUNCT
cblr-7808	287	18	the	the	DET
cblr-7808	287	19	number	number	NOUN
cblr-7808	287	20	of	of	ADP
cblr-7808	287	21	directors	director	NOUN
cblr-7808	287	22	failing	fail	VERB
cblr-7808	287	23	to	to	PART
cblr-7808	287	24	receive	receive	VERB
cblr-7808	287	25	majority	majority	NOUN
cblr-7808	287	26	support	support	NOUN
cblr-7808	287	27	from	from	ADP
cblr-7808	287	28	their	their	PRON
cblr-7808	287	29	shareholders	shareholder	NOUN
cblr-7808	287	30	rose	rise	VERB
cblr-7808	287	31	from	from	ADP
cblr-7808	287	32	345	345	NUM
cblr-7808	287	33	.	.	PUNCT
cblr-7808	287	34	.	.	PUNCT
cblr-7808	287	35	.	.	PUNCT
cblr-7808	288	1	to	to	ADP
cblr-7808	288	2	478	478	NUM
cblr-7808	288	3	.	.	PUNCT
cblr-7808	288	4	.	.	PUNCT
cblr-7808	288	5	.	.	PUNCT
cblr-7808	288	6	.	.	PUNCT
cblr-7808	289	1	[	[	X
cblr-7808	289	2	and	and	CCONJ
cblr-7808	289	3	]	]	X
cblr-7808	289	4	[	[	X
cblr-7808	289	5	t]he	t]he	ADV
cblr-7808	289	6	number	number	NOUN
cblr-7808	289	7	of	of	ADP
cblr-7808	289	8	directors	director	NOUN
cblr-7808	289	9	failing	fail	VERB
cblr-7808	289	10	to	to	PART
cblr-7808	289	11	receive	receive	VERB
cblr-7808	289	12	at	at	ADV
cblr-7808	289	13	least	least	ADJ
cblr-7808	289	14	70	70	NUM
cblr-7808	289	15	%	%	NOUN
cblr-7808	289	16	support	support	NOUN
cblr-7808	289	17	rose	rise	VERB
cblr-7808	289	18	by	by	ADP
cblr-7808	289	19	over	over	ADP
cblr-7808	289	20	45	45	NUM
cblr-7808	289	21	%	%	NOUN
cblr-7808	289	22	.	.	PUNCT
cblr-7808	289	23	.	.	PUNCT
cblr-7808	290	1	.	.	PUNCT
cblr-7808	291	1	from	from	ADP
cblr-7808	291	2	1185	1185	NUM
cblr-7808	291	3	.	.	PUNCT
cblr-7808	291	4	.	.	PUNCT
cblr-7808	291	5	.	.	PUNCT
cblr-7808	292	1	to	to	ADP
cblr-7808	292	2	1726	1726	NUM
cblr-7808	292	3	.	.	PUNCT
cblr-7808	292	4	”	"	PUNCT
cblr-7808	292	5	)	)	PUNCT
cblr-7808	292	6	.	.	PUNCT
cblr-7808	293	1	79	79	NUM
cblr-7808	294	1	i	i	PRON
cblr-7808	294	2	d.	d.	PROPN
cblr-7808	294	3	at	at	ADP
cblr-7808	294	4	314–15	314–15	PROPN
cblr-7808	294	5	.	.	PUNCT
cblr-7808	295	1	the	the	DET
cblr-7808	295	2	say	say	VERB
cblr-7808	295	3	-	-	PUNCT
cblr-7808	295	4	on	on	ADP
cblr-7808	295	5	-	-	PUNCT
cblr-7808	295	6	pay	pay	NOUN
cblr-7808	295	7	rule	rule	NOUN
cblr-7808	295	8	requires	require	VERB
cblr-7808	295	9	that	that	SCONJ
cblr-7808	295	10	shareholders	shareholder	NOUN
cblr-7808	295	11	at	at	ADP
cblr-7808	295	12	public	public	ADJ
cblr-7808	295	13	companies	company	NOUN
cblr-7808	295	14	vote	vote	VERB
cblr-7808	295	15	a	a	DET
cblr-7808	295	16	non	non	ADJ
cblr-7808	295	17	-	-	ADJ
cblr-7808	295	18	binding	binding	ADJ
cblr-7808	295	19	resolution	resolution	NOUN
cblr-7808	295	20	either	either	CCONJ
cblr-7808	295	21	approving	approve	VERB
cblr-7808	295	22	or	or	CCONJ
cblr-7808	295	23	disapproving	disapprove	VERB
cblr-7808	295	24	the	the	DET
cblr-7808	295	25	compensation	compensation	NOUN
cblr-7808	295	26	packages	package	NOUN
cblr-7808	295	27	of	of	ADP
cblr-7808	295	28	senior	senior	ADJ
cblr-7808	295	29	executives	executive	NOUN
cblr-7808	295	30	.	.	PUNCT
cblr-7808	296	1	see	see	VERB
cblr-7808	296	2	15	15	NUM
cblr-7808	296	3	u.s.c	u.s.c	ADJ
cblr-7808	296	4	.	.	PUNCT
cblr-7808	297	1	§	§	PROPN
cblr-7808	297	2	78n-1	78n-1	NUM
cblr-7808	297	3	(	(	PUNCT
cblr-7808	297	4	2018	2018	NUM
cblr-7808	297	5	)	)	PUNCT
cblr-7808	297	6	;	;	PUNCT
cblr-7808	297	7	17	17	NUM
cblr-7808	297	8	c.f.r	c.f.r	NOUN
cblr-7808	297	9	.	.	PUNCT
cblr-7808	298	1	§	§	PROPN
cblr-7808	298	2	240.14a-21	240.14a-21	NUM
cblr-7808	298	3	(	(	PUNCT
cblr-7808	298	4	2020	2020	NUM
cblr-7808	298	5	)	)	PUNCT
cblr-7808	298	6	.	.	PUNCT
cblr-7808	299	1	kastiel	kastiel	PROPN
cblr-7808	299	2	(	(	PUNCT
cblr-7808	299	3	comment	comment	NOUN
cblr-7808	299	4	)	)	PUNCT
cblr-7808	299	5	1/15/2021	1/15/2021	NUM
cblr-7808	299	6	2:38	2:38	NUM
cblr-7808	299	7	pm	pm	NOUN
cblr-7808	299	8	no	no	INTJ
cblr-7808	299	9	.	.	PUNCT
cblr-7808	300	1	3:834	3:834	NUM
cblr-7808	300	2	]	]	X
cblr-7808	300	3	long	long	ADJ
cblr-7808	300	4	-	-	PUNCT
cblr-7808	300	5	term	term	NOUN
cblr-7808	300	6	bias	bias	NOUN
cblr-7808	300	7	,	,	PUNCT
cblr-7808	300	8	incentives	incentive	NOUN
cblr-7808	300	9	,	,	PUNCT
cblr-7808	300	10	and	and	CCONJ
cblr-7808	300	11	agency	agency	NOUN
cblr-7808	300	12	costs	cost	VERB
cblr-7808	300	13	853	853	NUM
cblr-7808	300	14	reflection	reflection	NOUN
cblr-7808	300	15	of	of	ADP
cblr-7808	300	16	overall	overall	ADJ
cblr-7808	300	17	shareholder	shareholder	NOUN
cblr-7808	300	18	dissatisfaction	dissatisfaction	NOUN
cblr-7808	300	19	with	with	ADP
cblr-7808	300	20	management.80	management.80	NOUN
cblr-7808	300	21	protest	protest	NOUN
cblr-7808	300	22	votes	vote	NOUN
cblr-7808	300	23	are	be	AUX
cblr-7808	300	24	an	an	DET
cblr-7808	300	25	important	important	ADJ
cblr-7808	300	26	vehicle	vehicle	NOUN
cblr-7808	300	27	for	for	SCONJ
cblr-7808	300	28	shareholders	shareholder	NOUN
cblr-7808	300	29	to	to	PART
cblr-7808	300	30	communicate	communicate	VERB
cblr-7808	300	31	their	their	PRON
cblr-7808	300	32	preferences	preference	NOUN
cblr-7808	300	33	to	to	ADP
cblr-7808	300	34	the	the	DET
cblr-7808	300	35	board	board	NOUN
cblr-7808	300	36	and	and	CCONJ
cblr-7808	300	37	senior	senior	ADJ
cblr-7808	300	38	management	management	NOUN
cblr-7808	300	39	.	.	PUNCT
cblr-7808	301	1	a	a	DET
cblr-7808	301	2	large	large	ADJ
cblr-7808	301	3	body	body	NOUN
cblr-7808	301	4	of	of	ADP
cblr-7808	301	5	empirical	empirical	ADJ
cblr-7808	301	6	research	research	NOUN
cblr-7808	301	7	suggests	suggest	VERB
cblr-7808	301	8	that	that	SCONJ
cblr-7808	301	9	corporate	corporate	ADJ
cblr-7808	301	10	directors	director	NOUN
cblr-7808	301	11	pay	pay	VERB
cblr-7808	301	12	attention	attention	NOUN
cblr-7808	301	13	to	to	ADP
cblr-7808	301	14	voting	vote	VERB
cblr-7808	301	15	outcomes	outcome	NOUN
cblr-7808	301	16	and	and	CCONJ
cblr-7808	301	17	in	in	ADP
cblr-7808	301	18	many	many	ADJ
cblr-7808	301	19	cases	case	NOUN
cblr-7808	301	20	incorporate	incorporate	VERB
cblr-7808	301	21	the	the	DET
cblr-7808	301	22	results	result	NOUN
cblr-7808	301	23	into	into	ADP
cblr-7808	301	24	their	their	PRON
cblr-7808	301	25	future	future	ADJ
cblr-7808	301	26	decisions.81	decisions.81	NOUN
cblr-7808	301	27	for	for	ADP
cblr-7808	301	28	example	example	NOUN
cblr-7808	301	29	,	,	PUNCT
cblr-7808	301	30	a	a	DET
cblr-7808	301	31	recent	recent	ADJ
cblr-7808	301	32	study	study	NOUN
cblr-7808	301	33	found	find	VERB
cblr-7808	301	34	that	that	SCONJ
cblr-7808	301	35	protest	protest	NOUN
cblr-7808	301	36	votes	vote	NOUN
cblr-7808	301	37	in	in	ADP
cblr-7808	301	38	uncontested	uncontested	ADJ
cblr-7808	301	39	director	director	NOUN
cblr-7808	301	40	elections	election	NOUN
cblr-7808	301	41	have	have	VERB
cblr-7808	301	42	a	a	DET
cblr-7808	301	43	substantial	substantial	ADJ
cblr-7808	301	44	negative	negative	ADJ
cblr-7808	301	45	impact	impact	NOUN
cblr-7808	301	46	on	on	ADP
cblr-7808	301	47	an	an	DET
cblr-7808	301	48	affected	affect	VERB
cblr-7808	301	49	director	director	NOUN
cblr-7808	301	50	’s	’s	PART
cblr-7808	301	51	career	career	NOUN
cblr-7808	301	52	,	,	PUNCT
cblr-7808	301	53	increasing	increase	VERB
cblr-7808	301	54	the	the	DET
cblr-7808	301	55	likelihood	likelihood	NOUN
cblr-7808	301	56	that	that	SCONJ
cblr-7808	301	57	the	the	DET
cblr-7808	301	58	director	director	NOUN
cblr-7808	301	59	will	will	AUX
cblr-7808	301	60	leave	leave	VERB
cblr-7808	301	61	the	the	DET
cblr-7808	301	62	board	board	NOUN
cblr-7808	301	63	and	and	CCONJ
cblr-7808	301	64	decreasing	decrease	VERB
cblr-7808	301	65	that	that	DET
cblr-7808	301	66	director	director	NOUN
cblr-7808	301	67	’s	’s	PART
cblr-7808	301	68	future	future	ADJ
cblr-7808	301	69	opportunities	opportunity	NOUN
cblr-7808	301	70	in	in	ADP
cblr-7808	301	71	the	the	DET
cblr-7808	301	72	director	director	NOUN
cblr-7808	301	73	labor	labor	NOUN
cblr-7808	301	74	market.82	market.82	PROPN
cblr-7808	301	75	more	more	ADV
cblr-7808	301	76	importantly	importantly	ADV
cblr-7808	301	77	,	,	PUNCT
cblr-7808	301	78	the	the	DET
cblr-7808	301	79	evidence	evidence	NOUN
cblr-7808	301	80	shows	show	VERB
cblr-7808	301	81	that	that	SCONJ
cblr-7808	301	82	director	director	NOUN
cblr-7808	301	83	elections	election	NOUN
cblr-7808	301	84	also	also	ADV
cblr-7808	301	85	play	play	VERB
cblr-7808	301	86	a	a	DET
cblr-7808	301	87	significant	significant	ADJ
cblr-7808	301	88	role	role	NOUN
cblr-7808	301	89	in	in	ADP
cblr-7808	301	90	the	the	DET
cblr-7808	301	91	performance	performance	NOUN
cblr-7808	301	92	sensitivity	sensitivity	NOUN
cblr-7808	301	93	of	of	ADP
cblr-7808	301	94	ceo	ceo	NOUN
cblr-7808	301	95	turnover83	turnover83	NOUN
cblr-7808	301	96	and	and	CCONJ
cblr-7808	301	97	that	that	SCONJ
cblr-7808	301	98	firms	firm	NOUN
cblr-7808	301	99	with	with	ADP
cblr-7808	301	100	low	low	ADJ
cblr-7808	301	101	voting	voting	NOUN
cblr-7808	301	102	approval	approval	NOUN
cblr-7808	301	103	are	be	AUX
cblr-7808	301	104	more	more	ADV
cblr-7808	301	105	likely	likely	ADJ
cblr-7808	301	106	to	to	PART
cblr-7808	301	107	experience	experience	VERB
cblr-7808	301	108	ceo	ceo	PROPN
cblr-7808	301	109	80	80	NUM
cblr-7808	301	110	see	see	NOUN
cblr-7808	301	111	jill	jill	PROPN
cblr-7808	301	112	fisch	fisch	PROPN
cblr-7808	301	113	,	,	PUNCT
cblr-7808	301	114	darius	darius	PROPN
cblr-7808	301	115	palia	palia	PROPN
cblr-7808	301	116	&	&	CCONJ
cblr-7808	301	117	steven	steven	PROPN
cblr-7808	301	118	davidoff	davidoff	PROPN
cblr-7808	301	119	solomon	solomon	PROPN
cblr-7808	301	120	,	,	PUNCT
cblr-7808	301	121	is	be	AUX
cblr-7808	301	122	say	say	VERB
cblr-7808	301	123	on	on	ADP
cblr-7808	301	124	pay	pay	VERB
cblr-7808	301	125	all	all	ADV
cblr-7808	301	126	about	about	ADP
cblr-7808	301	127	pay	pay	NOUN
cblr-7808	301	128	?	?	PUNCT
cblr-7808	302	1	the	the	DET
cblr-7808	302	2	impact	impact	NOUN
cblr-7808	302	3	of	of	ADP
cblr-7808	302	4	firm	firm	ADJ
cblr-7808	302	5	performance	performance	NOUN
cblr-7808	302	6	,	,	PUNCT
cblr-7808	302	7	8	8	NUM
cblr-7808	302	8	harv	harv	NOUN
cblr-7808	302	9	.	.	PUNCT
cblr-7808	303	1	bus	bus	NOUN
cblr-7808	303	2	.	.	PUNCT
cblr-7808	304	1	l.	l.	PROPN
cblr-7808	304	2	rev	rev	PROPN
cblr-7808	304	3	.	.	PROPN
cblr-7808	305	1	101	101	NUM
cblr-7808	305	2	,	,	PUNCT
cblr-7808	305	3	129	129	NUM
cblr-7808	305	4	(	(	PUNCT
cblr-7808	305	5	2018	2018	NUM
cblr-7808	305	6	)	)	PUNCT
cblr-7808	305	7	.	.	PUNCT
cblr-7808	306	1	81	81	NUM
cblr-7808	306	2	cf	cf	NOUN
cblr-7808	306	3	.	.	PUNCT
cblr-7808	306	4	,	,	PUNCT
cblr-7808	306	5	e.g.	e.g.	ADV
cblr-7808	306	6	,	,	PUNCT
cblr-7808	306	7	barzuza	barzuza	PROPN
cblr-7808	306	8	et	et	PROPN
cblr-7808	306	9	al	al	PROPN
cblr-7808	306	10	.	.	PROPN
cblr-7808	306	11	,	,	PUNCT
cblr-7808	306	12	supra	supra	PROPN
cblr-7808	306	13	note	note	PROPN
cblr-7808	306	14	17	17	NUM
cblr-7808	306	15	(	(	PUNCT
cblr-7808	306	16	manuscript	manuscript	NOUN
cblr-7808	306	17	at	at	ADP
cblr-7808	306	18	131–32	131–32	NUM
cblr-7808	306	19	)	)	PUNCT
cblr-7808	306	20	(	(	PUNCT
cblr-7808	306	21	illustrating	illustrate	VERB
cblr-7808	306	22	the	the	DET
cblr-7808	306	23	influence	influence	NOUN
cblr-7808	306	24	of	of	ADP
cblr-7808	306	25	index	index	NOUN
cblr-7808	306	26	fund	fund	NOUN
cblr-7808	306	27	votes	vote	NOUN
cblr-7808	306	28	on	on	ADP
cblr-7808	306	29	management	management	NOUN
cblr-7808	306	30	decisions	decision	NOUN
cblr-7808	306	31	with	with	ADP
cblr-7808	306	32	the	the	DET
cblr-7808	306	33	example	example	NOUN
cblr-7808	306	34	of	of	ADP
cblr-7808	306	35	board	board	NOUN
cblr-7808	306	36	diversification	diversification	NOUN
cblr-7808	306	37	pushes	push	NOUN
cblr-7808	306	38	)	)	PUNCT
cblr-7808	306	39	.	.	PUNCT
cblr-7808	307	1	82	82	NUM
cblr-7808	307	2	see	see	VERB
cblr-7808	307	3	aggarwal	aggarwal	NOUN
cblr-7808	307	4	et	et	NOUN
cblr-7808	307	5	al	al	PROPN
cblr-7808	307	6	.	.	PROPN
cblr-7808	307	7	,	,	PUNCT
cblr-7808	307	8	supra	supra	PROPN
cblr-7808	307	9	note	note	PROPN
cblr-7808	307	10	17	17	NUM
cblr-7808	307	11	,	,	PUNCT
cblr-7808	307	12	at	at	ADP
cblr-7808	307	13	134–36	134–36	NUM
cblr-7808	307	14	;	;	PUNCT
cblr-7808	307	15	see	see	VERB
cblr-7808	307	16	also	also	ADV
cblr-7808	307	17	william	william	PROPN
cblr-7808	307	18	c.	c.	PROPN
cblr-7808	307	19	johnson	johnson	PROPN
cblr-7808	307	20	,	,	PUNCT
cblr-7808	307	21	jonathan	jonathan	PROPN
cblr-7808	307	22	m.	m.	PROPN
cblr-7808	307	23	karpoff	karpoff	PROPN
cblr-7808	307	24	&	&	CCONJ
cblr-7808	307	25	michael	michael	PROPN
cblr-7808	307	26	d.	d.	PROPN
cblr-7808	307	27	wittry	wittry	PROPN
cblr-7808	307	28	,	,	PUNCT
cblr-7808	307	29	the	the	DET
cblr-7808	307	30	consequences	consequence	NOUN
cblr-7808	307	31	to	to	ADP
cblr-7808	307	32	directors	director	NOUN
cblr-7808	307	33	of	of	ADP
cblr-7808	307	34	deploying	deploy	VERB
cblr-7808	307	35	poison	poison	NOUN
cblr-7808	307	36	pills	pill	NOUN
cblr-7808	307	37	1–4	1–4	PROPN
cblr-7808	307	38	,	,	PUNCT
cblr-7808	307	39	8–9	8–9	PROPN
cblr-7808	307	40	(	(	PUNCT
cblr-7808	307	41	fisher	fisher	PROPN
cblr-7808	307	42	coll	coll	PROPN
cblr-7808	307	43	.	.	PUNCT
cblr-7808	308	1	of	of	ADP
cblr-7808	308	2	bus	bus	NOUN
cblr-7808	308	3	.	.	PUNCT
cblr-7808	309	1	working	work	VERB
cblr-7808	309	2	paper	paper	NOUN
cblr-7808	309	3	2019	2019	NUM
cblr-7808	309	4	-	-	SYM
cblr-7808	309	5	03	03	NUM
cblr-7808	309	6	-	-	PUNCT
cblr-7808	309	7	023	023	NUM
cblr-7808	309	8	,	,	PUNCT
cblr-7808	309	9	aug	aug	PROPN
cblr-7808	309	10	.	.	PROPN
cblr-7808	309	11	30	30	NUM
cblr-7808	309	12	,	,	PUNCT
cblr-7808	309	13	2019	2019	NUM
cblr-7808	309	14	)	)	PUNCT
cblr-7808	309	15	,	,	PUNCT
cblr-7808	309	16	https://papers.ssrn.com/sol3/data_integrity_notice.cfm?abid=3460201	https://papers.ssrn.com/sol3/data_integrity_notice.cfm?abid=3460201	NUM
cblr-7808	309	17	(	(	PUNCT
cblr-7808	309	18	on	on	ADP
cblr-7808	309	19	file	file	NOUN
cblr-7808	309	20	with	with	ADP
cblr-7808	309	21	the	the	DET
cblr-7808	309	22	columbia	columbia	PROPN
cblr-7808	309	23	business	business	PROPN
cblr-7808	309	24	law	law	PROPN
cblr-7808	309	25	review	review	PROPN
cblr-7808	309	26	)	)	PUNCT
cblr-7808	309	27	(	(	PUNCT
cblr-7808	309	28	discussing	discuss	VERB
cblr-7808	309	29	the	the	DET
cblr-7808	309	30	effects	effect	NOUN
cblr-7808	309	31	of	of	ADP
cblr-7808	309	32	adopting	adopt	VERB
cblr-7808	309	33	unpopular	unpopular	ADJ
cblr-7808	309	34	poison	poison	NOUN
cblr-7808	309	35	pills	pill	NOUN
cblr-7808	309	36	)	)	PUNCT
cblr-7808	309	37	.	.	PUNCT
cblr-7808	310	1	another	another	DET
cblr-7808	310	2	study	study	NOUN
cblr-7808	310	3	shows	show	VERB
cblr-7808	310	4	that	that	SCONJ
cblr-7808	310	5	when	when	SCONJ
cblr-7808	310	6	management	management	NOUN
cblr-7808	310	7	is	be	AUX
cblr-7808	310	8	attentive	attentive	ADJ
cblr-7808	310	9	to	to	ADP
cblr-7808	310	10	shareholder	shareholder	NOUN
cblr-7808	310	11	demands	demand	NOUN
cblr-7808	310	12	and	and	CCONJ
cblr-7808	310	13	implements	implement	VERB
cblr-7808	310	14	governance	governance	NOUN
cblr-7808	310	15	-	-	PUNCT
cblr-7808	310	16	related	relate	VERB
cblr-7808	310	17	proposals	proposal	NOUN
cblr-7808	310	18	that	that	PRON
cblr-7808	310	19	receive	receive	VERB
cblr-7808	310	20	majority	majority	NOUN
cblr-7808	310	21	support	support	NOUN
cblr-7808	310	22	,	,	PUNCT
cblr-7808	310	23	there	there	PRON
cblr-7808	310	24	is	be	VERB
cblr-7808	310	25	an	an	DET
cblr-7808	310	26	“	"	PUNCT
cblr-7808	310	27	approximately	approximately	ADV
cblr-7808	310	28	.	.	PUNCT
cblr-7808	310	29	.	.	PUNCT
cblr-7808	311	1	.	.	PUNCT
cblr-7808	312	1	one	one	NUM
cblr-7808	312	2	-	-	PUNCT
cblr-7808	312	3	fifth	fifth	NOUN
cblr-7808	312	4	reduction	reduction	NOUN
cblr-7808	312	5	in	in	ADP
cblr-7808	312	6	[	[	X
cblr-7808	312	7	both	both	X
cblr-7808	312	8	]	]	X
cblr-7808	312	9	the	the	DET
cblr-7808	312	10	probability	probability	NOUN
cblr-7808	312	11	of	of	ADP
cblr-7808	312	12	director	director	NOUN
cblr-7808	312	13	turnover	turnover	NOUN
cblr-7808	312	14	.	.	PUNCT
cblr-7808	312	15	.	.	PUNCT
cblr-7808	312	16	.	.	PUNCT
cblr-7808	312	17	.	.	PUNCT
cblr-7808	313	1	[	[	X
cblr-7808	313	2	and	and	CCONJ
cblr-7808	313	3	]	]	PUNCT
cblr-7808	313	4	the	the	DET
cblr-7808	313	5	probability	probability	NOUN
cblr-7808	313	6	of	of	ADP
cblr-7808	313	7	losing	lose	VERB
cblr-7808	313	8	directorships	directorship	NOUN
cblr-7808	313	9	held	hold	VERB
cblr-7808	313	10	in	in	ADP
cblr-7808	313	11	other	other	ADJ
cblr-7808	313	12	firms	firm	NOUN
cblr-7808	313	13	.	.	PUNCT
cblr-7808	313	14	”	"	PUNCT
cblr-7808	313	15	see	see	VERB
cblr-7808	313	16	yonca	yonca	PROPN
cblr-7808	313	17	ertimur	ertimur	PROPN
cblr-7808	313	18	,	,	PUNCT
cblr-7808	313	19	fabrizio	fabrizio	PROPN
cblr-7808	313	20	ferri	ferri	PROPN
cblr-7808	313	21	&	&	CCONJ
cblr-7808	313	22	stephen	stephen	PROPN
cblr-7808	313	23	r.	r.	PROPN
cblr-7808	313	24	stubben	stubben	PROPN
cblr-7808	313	25	,	,	PUNCT
cblr-7808	313	26	board	board	NOUN
cblr-7808	313	27	of	of	ADP
cblr-7808	313	28	directors	director	NOUN
cblr-7808	313	29	’	’	PART
cblr-7808	313	30	responsiveness	responsiveness	NOUN
cblr-7808	313	31	to	to	ADP
cblr-7808	313	32	shareholders	shareholder	NOUN
cblr-7808	313	33	:	:	PUNCT
cblr-7808	313	34	evidence	evidence	NOUN
cblr-7808	313	35	from	from	ADP
cblr-7808	313	36	shareholder	shareholder	NOUN
cblr-7808	313	37	proposals	proposal	NOUN
cblr-7808	313	38	,	,	PUNCT
cblr-7808	313	39	16	16	NUM
cblr-7808	313	40	j.	j.	PROPN
cblr-7808	313	41	corp	corp	PROPN
cblr-7808	313	42	.	.	PROPN
cblr-7808	313	43	fin	fin	PROPN
cblr-7808	313	44	.	.	PUNCT
cblr-7808	314	1	53	53	NUM
cblr-7808	314	2	,	,	PUNCT
cblr-7808	314	3	54	54	NUM
cblr-7808	314	4	(	(	PUNCT
cblr-7808	314	5	2010	2010	NUM
cblr-7808	314	6	)	)	PUNCT
cblr-7808	314	7	.	.	PUNCT
cblr-7808	315	1	83	83	NUM
cblr-7808	315	2	see	see	VERB
cblr-7808	315	3	vyacheslav	vyacheslav	NOUN
cblr-7808	315	4	fos	fos	NOUN
cblr-7808	315	5	,	,	PUNCT
cblr-7808	315	6	kai	kai	PROPN
cblr-7808	315	7	li	li	PROPN
cblr-7808	315	8	&	&	CCONJ
cblr-7808	315	9	margarita	margarita	PROPN
cblr-7808	315	10	tsoutsoura	tsoutsoura	PROPN
cblr-7808	315	11	,	,	PUNCT
cblr-7808	315	12	do	do	VERB
cblr-7808	315	13	director	director	NOUN
cblr-7808	315	14	elections	election	NOUN
cblr-7808	315	15	matter	matter	NOUN
cblr-7808	315	16	?	?	PUNCT
cblr-7808	315	17	,	,	PUNCT
cblr-7808	315	18	31	31	NUM
cblr-7808	315	19	rev	rev	X
cblr-7808	315	20	.	.	PROPN
cblr-7808	315	21	fin	fin	PROPN
cblr-7808	315	22	.	.	PUNCT
cblr-7808	315	23	stud	stud	PROPN
cblr-7808	315	24	.	.	PUNCT
cblr-7808	316	1	1499	1499	NUM
cblr-7808	316	2	,	,	PUNCT
cblr-7808	316	3	1501	1501	NUM
cblr-7808	316	4	(	(	PUNCT
cblr-7808	316	5	2018	2018	NUM
cblr-7808	316	6	)	)	PUNCT
cblr-7808	316	7	;	;	PUNCT
cblr-7808	316	8	bonnie	bonnie	PROPN
cblr-7808	316	9	g.	g.	PROPN
cblr-7808	316	10	buchanan	buchanan	PROPN
cblr-7808	316	11	et	et	PROPN
cblr-7808	316	12	al	al	PROPN
cblr-7808	316	13	.	.	PROPN
cblr-7808	316	14	,	,	PUNCT
cblr-7808	316	15	shareholder	shareholder	NOUN
cblr-7808	316	16	proposal	proposal	NOUN
cblr-7808	316	17	rules	rule	NOUN
cblr-7808	316	18	and	and	CCONJ
cblr-7808	316	19	practice	practice	NOUN
cblr-7808	316	20	:	:	PUNCT
cblr-7808	316	21	evidence	evidence	NOUN
cblr-7808	316	22	from	from	ADP
cblr-7808	316	23	a	a	DET
cblr-7808	316	24	comparison	comparison	NOUN
cblr-7808	316	25	of	of	ADP
cblr-7808	316	26	the	the	DET
cblr-7808	316	27	united	united	PROPN
cblr-7808	316	28	states	states	PROPN
cblr-7808	316	29	and	and	CCONJ
cblr-7808	316	30	united	united	PROPN
cblr-7808	316	31	kingdom	kingdom	PROPN
cblr-7808	316	32	,	,	PUNCT
cblr-7808	316	33	49	49	NUM
cblr-7808	316	34	am	am	NOUN
cblr-7808	316	35	.	.	PUNCT
cblr-7808	317	1	bus	bus	NOUN
cblr-7808	317	2	.	.	PUNCT
cblr-7808	318	1	l.j	l.j	AUX
cblr-7808	318	2	.	.	PROPN
cblr-7808	318	3	739	739	NUM
cblr-7808	318	4	,	,	PUNCT
cblr-7808	318	5	786	786	NUM
cblr-7808	318	6	,	,	PUNCT
cblr-7808	318	7	790	790	NUM
cblr-7808	318	8	,	,	PUNCT
cblr-7808	318	9	795–96	795–96	NUM
cblr-7808	318	10	(	(	PUNCT
cblr-7808	318	11	2012	2012	NUM
cblr-7808	318	12	)	)	PUNCT
cblr-7808	318	13	(	(	PUNCT
cblr-7808	318	14	discussing	discuss	VERB
cblr-7808	318	15	the	the	DET
cblr-7808	318	16	roles	role	NOUN
cblr-7808	318	17	of	of	ADP
cblr-7808	318	18	shareholder	shareholder	NOUN
cblr-7808	318	19	proposals	proposal	NOUN
cblr-7808	318	20	in	in	ADP
cblr-7808	318	21	increasing	increase	VERB
cblr-7808	318	22	ceo	ceo	NOUN
cblr-7808	318	23	turnover	turnover	NOUN
cblr-7808	318	24	and	and	CCONJ
cblr-7808	318	25	separating	separate	VERB
cblr-7808	318	26	the	the	DET
cblr-7808	318	27	ceo	ceo	NOUN
cblr-7808	318	28	and	and	CCONJ
cblr-7808	318	29	chairman	chairman	NOUN
cblr-7808	318	30	positions	position	NOUN
cblr-7808	318	31	)	)	PUNCT
cblr-7808	318	32	.	.	PUNCT
cblr-7808	319	1	kastiel	kastiel	PROPN
cblr-7808	319	2	(	(	PUNCT
cblr-7808	319	3	comment	comment	NOUN
cblr-7808	319	4	)	)	PUNCT
cblr-7808	319	5	1/15/2021	1/15/2021	NUM
cblr-7808	319	6	2:38	2:38	NUM
cblr-7808	319	7	pm	pm	NOUN
cblr-7808	319	8	854	854	NUM
cblr-7808	319	9	columbia	columbia	PROPN
cblr-7808	319	10	business	business	NOUN
cblr-7808	319	11	law	law	PROPN
cblr-7808	319	12	review	review	NOUN
cblr-7808	319	13	[	[	X
cblr-7808	319	14	vol	vol	NOUN
cblr-7808	319	15	.	.	NOUN
cblr-7808	319	16	2020	2020	NUM
cblr-7808	319	17	turnover	turnover	NOUN
cblr-7808	319	18	,	,	PUNCT
cblr-7808	319	19	lower	low	ADJ
cblr-7808	319	20	ceo	ceo	NOUN
cblr-7808	319	21	compensation	compensation	NOUN
cblr-7808	319	22	,	,	PUNCT
cblr-7808	319	23	and	and	CCONJ
cblr-7808	319	24	increased	increase	VERB
cblr-7808	319	25	corporate	corporate	ADJ
cblr-7808	319	26	activity	activity	NOUN
cblr-7808	319	27	(	(	PUNCT
cblr-7808	319	28	such	such	ADJ
cblr-7808	319	29	as	as	ADP
cblr-7808	319	30	a	a	DET
cblr-7808	319	31	major	major	ADJ
cblr-7808	319	32	asset	asset	NOUN
cblr-7808	319	33	sale	sale	NOUN
cblr-7808	319	34	or	or	CCONJ
cblr-7808	319	35	an	an	DET
cblr-7808	319	36	acquisition	acquisition	NOUN
cblr-7808	319	37	)	)	PUNCT
cblr-7808	319	38	in	in	ADP
cblr-7808	319	39	the	the	DET
cblr-7808	319	40	year	year	NOUN
cblr-7808	319	41	following	follow	VERB
cblr-7808	319	42	an	an	DET
cblr-7808	319	43	unfavorable	unfavorable	ADJ
cblr-7808	319	44	vote.84	vote.84	NOUN
cblr-7808	319	45	finally	finally	ADV
cblr-7808	319	46	,	,	PUNCT
cblr-7808	319	47	evidence	evidence	NOUN
cblr-7808	319	48	also	also	ADV
cblr-7808	319	49	shows	show	VERB
cblr-7808	319	50	that	that	SCONJ
cblr-7808	319	51	,	,	PUNCT
cblr-7808	319	52	at	at	ADP
cblr-7808	319	53	least	least	ADJ
cblr-7808	319	54	at	at	ADP
cblr-7808	319	55	large	large	ADJ
cblr-7808	319	56	firms	firm	NOUN
cblr-7808	319	57	,	,	PUNCT
cblr-7808	319	58	expected	expect	VERB
cblr-7808	319	59	ceo	ceo	NOUN
cblr-7808	319	60	tenure	tenure	NOUN
cblr-7808	319	61	has	have	AUX
cblr-7808	319	62	declined	decline	VERB
cblr-7808	319	63	by	by	ADP
cblr-7808	319	64	half	half	NOUN
cblr-7808	319	65	,	,	PUNCT
cblr-7808	319	66	from	from	ADP
cblr-7808	319	67	ten	ten	NUM
cblr-7808	319	68	years	year	NOUN
cblr-7808	319	69	in	in	ADP
cblr-7808	319	70	1970	1970	NUM
cblr-7808	319	71	’s	’s	NOUN
cblr-7808	319	72	to	to	ADP
cblr-7808	319	73	five	five	NUM
cblr-7808	319	74	years	year	NOUN
cblr-7808	319	75	in	in	ADP
cblr-7808	319	76	2017.85	2017.85	NUM
cblr-7808	319	77	this	this	DET
cblr-7808	319	78	decline	decline	NOUN
cblr-7808	319	79	in	in	ADP
cblr-7808	319	80	managers	manager	NOUN
cblr-7808	319	81	’	'	PUNCT
cblr-7808	319	82	average	average	ADJ
cblr-7808	319	83	tenure	tenure	NOUN
cblr-7808	319	84	suggests	suggest	VERB
cblr-7808	319	85	that	that	SCONJ
cblr-7808	319	86	the	the	DET
cblr-7808	319	87	risk	risk	NOUN
cblr-7808	319	88	of	of	ADP
cblr-7808	319	89	early	early	ADJ
cblr-7808	319	90	termination	termination	NOUN
cblr-7808	319	91	is	be	AUX
cblr-7808	319	92	real.86	real.86	NOUN
cblr-7808	319	93	shorter	short	ADJ
cblr-7808	319	94	tenures	tenure	NOUN
cblr-7808	319	95	reduce	reduce	VERB
cblr-7808	319	96	the	the	DET
cblr-7808	319	97	likelihood	likelihood	NOUN
cblr-7808	319	98	of	of	ADP
cblr-7808	319	99	inferior	inferior	ADJ
cblr-7808	319	100	longterm	longterm	ADJ
cblr-7808	319	101	investments	investment	NOUN
cblr-7808	319	102	because	because	SCONJ
cblr-7808	319	103	managers	manager	NOUN
cblr-7808	319	104	have	have	VERB
cblr-7808	319	105	limited	limit	VERB
cblr-7808	319	106	incentives	incentive	NOUN
cblr-7808	319	107	(	(	PUNCT
cblr-7808	319	108	that	that	PRON
cblr-7808	319	109	decline	decline	VERB
cblr-7808	319	110	even	even	ADV
cblr-7808	319	111	further	far	ADV
cblr-7808	319	112	over	over	ADP
cblr-7808	319	113	their	their	PRON
cblr-7808	319	114	tenure	tenure	NOUN
cblr-7808	319	115	)	)	PUNCT
cblr-7808	319	116	to	to	PART
cblr-7808	319	117	invest	invest	VERB
cblr-7808	319	118	in	in	ADP
cblr-7808	319	119	projects	project	NOUN
cblr-7808	319	120	with	with	ADP
cblr-7808	319	121	long	long	ADJ
cblr-7808	319	122	-	-	PUNCT
cblr-7808	319	123	term	term	NOUN
cblr-7808	319	124	horizons	horizon	NOUN
cblr-7808	319	125	and	and	CCONJ
cblr-7808	319	126	uncertain	uncertain	ADJ
cblr-7808	319	127	benefits	benefit	NOUN
cblr-7808	319	128	:	:	PUNCT
cblr-7808	319	129	these	these	DET
cblr-7808	319	130	benefits	benefit	NOUN
cblr-7808	319	131	would	would	AUX
cblr-7808	319	132	accrue	accrue	VERB
cblr-7808	319	133	well	well	ADV
cblr-7808	319	134	after	after	ADP
cblr-7808	319	135	the	the	DET
cblr-7808	319	136	anticipated	anticipate	VERB
cblr-7808	319	137	lengths	length	NOUN
cblr-7808	319	138	of	of	ADP
cblr-7808	319	139	their	their	PRON
cblr-7808	319	140	terms.87	terms.87	NOUN
cblr-7808	319	141	the	the	DET
cblr-7808	319	142	empirical	empirical	ADJ
cblr-7808	319	143	evidence	evidence	NOUN
cblr-7808	319	144	shows	show	VERB
cblr-7808	319	145	that	that	SCONJ
cblr-7808	319	146	shareholder	shareholder	NOUN
cblr-7808	319	147	voting	voting	NOUN
cblr-7808	319	148	is	be	AUX
cblr-7808	319	149	no	no	ADV
cblr-7808	319	150	longer	long	ADV
cblr-7808	319	151	inconsequential	inconsequential	ADJ
cblr-7808	319	152	and	and	CCONJ
cblr-7808	319	153	that	that	SCONJ
cblr-7808	319	154	long	long	ADV
cblr-7808	319	155	-	-	PUNCT
cblr-7808	319	156	lasting	last	VERB
cblr-7808	319	157	tenure	tenure	NOUN
cblr-7808	319	158	is	be	AUX
cblr-7808	319	159	no	no	ADV
cblr-7808	319	160	longer	long	ADV
cblr-7808	319	161	guaranteed	guarantee	VERB
cblr-7808	319	162	.	.	PUNCT
cblr-7808	320	1	thus	thus	ADV
cblr-7808	320	2	,	,	PUNCT
cblr-7808	320	3	if	if	SCONJ
cblr-7808	320	4	managers	manager	NOUN
cblr-7808	320	5	invest	invest	VERB
cblr-7808	320	6	in	in	ADP
cblr-7808	320	7	inferior	inferior	ADJ
cblr-7808	320	8	projects	project	NOUN
cblr-7808	320	9	that	that	PRON
cblr-7808	320	10	shareholders	shareholder	VERB
cblr-7808	320	11	disfavor	disfavor	NOUN
cblr-7808	320	12	,	,	PUNCT
cblr-7808	320	13	they	they	PRON
cblr-7808	320	14	could	could	AUX
cblr-7808	320	15	face	face	VERB
cblr-7808	320	16	significant	significant	ADJ
cblr-7808	320	17	negative	negative	ADJ
cblr-7808	320	18	consequences	consequence	NOUN
cblr-7808	320	19	.	.	PUNCT
cblr-7808	321	1	4	4	X
cblr-7808	321	2	.	.	X
cblr-7808	321	3	activist	activist	ADJ
cblr-7808	321	4	investors	investor	NOUN
cblr-7808	321	5	in	in	ADP
cblr-7808	321	6	the	the	DET
cblr-7808	321	7	past	past	ADJ
cblr-7808	321	8	two	two	NUM
cblr-7808	321	9	decades	decade	NOUN
cblr-7808	321	10	,	,	PUNCT
cblr-7808	321	11	activist	activist	ADJ
cblr-7808	321	12	hedge	hedge	NOUN
cblr-7808	321	13	funds	fund	NOUN
cblr-7808	321	14	have	have	AUX
cblr-7808	321	15	become	become	VERB
cblr-7808	321	16	critical	critical	ADJ
cblr-7808	321	17	players	player	NOUN
cblr-7808	321	18	in	in	ADP
cblr-7808	321	19	the	the	DET
cblr-7808	321	20	corporate	corporate	ADJ
cblr-7808	321	21	governance	governance	NOUN
cblr-7808	321	22	arena.88	arena.88	NOUN
cblr-7808	321	23	these	these	DET
cblr-7808	321	24	funds	fund	NOUN
cblr-7808	321	25	often	often	ADV
cblr-7808	321	26	accumulate	accumulate	VERB
cblr-7808	321	27	large	large	ADJ
cblr-7808	321	28	but	but	CCONJ
cblr-7808	321	29	non	non	ADJ
cblr-7808	321	30	-	-	ADJ
cblr-7808	321	31	controlling	controlling	ADJ
cblr-7808	321	32	stakes	stake	NOUN
cblr-7808	321	33	in	in	ADP
cblr-7808	321	34	84	84	NUM
cblr-7808	321	35	see	see	VERB
cblr-7808	321	36	paul	paul	PROPN
cblr-7808	321	37	e.	e.	PROPN
cblr-7808	321	38	fischer	fischer	PROPN
cblr-7808	321	39	et	et	PROPN
cblr-7808	321	40	al	al	PROPN
cblr-7808	321	41	.	.	PROPN
cblr-7808	321	42	,	,	PUNCT
cblr-7808	321	43	investor	investor	NOUN
cblr-7808	321	44	perceptions	perception	NOUN
cblr-7808	321	45	of	of	ADP
cblr-7808	321	46	board	board	NOUN
cblr-7808	321	47	performance	performance	NOUN
cblr-7808	321	48	:	:	PUNCT
cblr-7808	321	49	evidence	evidence	NOUN
cblr-7808	321	50	from	from	ADP
cblr-7808	321	51	uncontested	uncontested	ADJ
cblr-7808	321	52	director	director	NOUN
cblr-7808	321	53	elections	election	NOUN
cblr-7808	321	54	,	,	PUNCT
cblr-7808	321	55	48	48	NUM
cblr-7808	321	56	j.	j.	PROPN
cblr-7808	321	57	acct	acct	PROPN
cblr-7808	321	58	.	.	PROPN
cblr-7808	321	59	&	&	CCONJ
cblr-7808	321	60	econ	econ	PROPN
cblr-7808	321	61	.	.	PUNCT
cblr-7808	322	1	172	172	NUM
cblr-7808	322	2	,	,	PUNCT
cblr-7808	322	3	180	180	NUM
cblr-7808	322	4	,	,	PUNCT
cblr-7808	322	5	183–86	183–86	NUM
cblr-7808	322	6	(	(	PUNCT
cblr-7808	322	7	2009	2009	NUM
cblr-7808	322	8	)	)	PUNCT
cblr-7808	322	9	.	.	PUNCT
cblr-7808	323	1	85	85	NUM
cblr-7808	323	2	see	see	VERB
cblr-7808	323	3	marcec	marcec	NOUN
cblr-7808	323	4	,	,	PUNCT
cblr-7808	323	5	supra	supra	PROPN
cblr-7808	323	6	note	note	NOUN
cblr-7808	323	7	16	16	NUM
cblr-7808	323	8	(	(	PUNCT
cblr-7808	323	9	providing	provide	VERB
cblr-7808	323	10	data	datum	NOUN
cblr-7808	323	11	on	on	ADP
cblr-7808	323	12	ceo	ceo	NOUN
cblr-7808	323	13	tenure	tenure	NOUN
cblr-7808	323	14	rates	rate	NOUN
cblr-7808	323	15	between	between	ADP
cblr-7808	323	16	2013	2013	NUM
cblr-7808	323	17	and	and	CCONJ
cblr-7808	323	18	2017	2017	NUM
cblr-7808	323	19	)	)	PUNCT
cblr-7808	323	20	;	;	PUNCT
cblr-7808	323	21	kaplan	kaplan	PROPN
cblr-7808	323	22	,	,	PUNCT
cblr-7808	323	23	supra	supra	PROPN
cblr-7808	323	24	note	note	PROPN
cblr-7808	323	25	62	62	NUM
cblr-7808	323	26	,	,	PUNCT
cblr-7808	323	27	at	at	ADP
cblr-7808	323	28	16	16	NUM
cblr-7808	323	29	fig.10	fig.10	PRON
cblr-7808	323	30	(	(	PUNCT
cblr-7808	323	31	providing	provide	VERB
cblr-7808	323	32	historical	historical	ADJ
cblr-7808	323	33	data	datum	NOUN
cblr-7808	323	34	on	on	ADP
cblr-7808	323	35	ceo	ceo	NOUN
cblr-7808	323	36	turnover	turnover	NOUN
cblr-7808	323	37	)	)	PUNCT
cblr-7808	323	38	.	.	PUNCT
cblr-7808	324	1	86	86	NUM
cblr-7808	324	2	see	see	VERB
cblr-7808	324	3	supra	supra	PROPN
cblr-7808	324	4	note	note	PROPN
cblr-7808	324	5	62	62	NUM
cblr-7808	324	6	.	.	PUNCT
cblr-7808	325	1	87	87	NUM
cblr-7808	325	2	see	see	VERB
cblr-7808	325	3	bainbridge	bainbridge	PROPN
cblr-7808	325	4	,	,	PUNCT
cblr-7808	325	5	supra	supra	PROPN
cblr-7808	325	6	note	note	PROPN
cblr-7808	325	7	21	21	NUM
cblr-7808	325	8	,	,	PUNCT
cblr-7808	325	9	at	at	ADP
cblr-7808	325	10	810–11	810–11	NUM
cblr-7808	325	11	.	.	PUNCT
cblr-7808	326	1	88	88	NUM
cblr-7808	326	2	between	between	ADP
cblr-7808	326	3	2013	2013	NUM
cblr-7808	326	4	to	to	ADP
cblr-7808	326	5	2017	2017	NUM
cblr-7808	326	6	,	,	PUNCT
cblr-7808	326	7	642	642	NUM
cblr-7808	326	8	directors	director	NOUN
cblr-7808	326	9	nominated	nominate	VERB
cblr-7808	326	10	by	by	ADP
cblr-7808	326	11	activist	activist	ADJ
cblr-7808	326	12	hedge	hedge	NOUN
cblr-7808	326	13	funds	fund	NOUN
cblr-7808	326	14	gained	gain	VERB
cblr-7808	326	15	board	board	NOUN
cblr-7808	326	16	seats	seat	NOUN
cblr-7808	326	17	across	across	ADP
cblr-7808	326	18	corporations	corporation	NOUN
cblr-7808	326	19	of	of	ADP
cblr-7808	326	20	at	at	ADV
cblr-7808	326	21	least	least	ADJ
cblr-7808	326	22	moderate	moderate	ADJ
cblr-7808	326	23	size	size	NOUN
cblr-7808	326	24	.	.	PUNCT
cblr-7808	327	1	see	see	VERB
cblr-7808	327	2	sullivan	sullivan	PROPN
cblr-7808	327	3	&	&	CCONJ
cblr-7808	327	4	cromwell	cromwell	PROPN
cblr-7808	327	5	llp	llp	PROPN
cblr-7808	327	6	,	,	PUNCT
cblr-7808	327	7	review	review	NOUN
cblr-7808	327	8	and	and	CCONJ
cblr-7808	327	9	analysis	analysis	NOUN
cblr-7808	327	10	of	of	ADP
cblr-7808	327	11	2017	2017	NUM
cblr-7808	327	12	u.s	u.s	PROPN
cblr-7808	327	13	.	.	PROPN
cblr-7808	327	14	shareholder	shareholder	NOUN
cblr-7808	327	15	activism	activism	NOUN
cblr-7808	327	16	12	12	NUM
cblr-7808	327	17	tbl.board	tbl.board	NOUN
cblr-7808	327	18	seats	seat	NOUN
cblr-7808	327	19	obtained	obtain	VERB
cblr-7808	327	20	by	by	ADP
cblr-7808	327	21	activists	activist	NOUN
cblr-7808	327	22	(	(	PUNCT
cblr-7808	327	23	2018	2018	NUM
cblr-7808	327	24	)	)	PUNCT
cblr-7808	327	25	,	,	PUNCT
cblr-7808	327	26	https://www.sullcrom.com/sitefiles/publications/sc_publication_review_a	https://www.sullcrom.com/sitefiles/publications/sc_publication_review_a	PROPN
cblr-7808	327	27	nd_analysis_of_2017_us_shareholder_activism.pdf	nd_analysis_of_2017_us_shareholder_activism.pdf	PROPN
cblr-7808	328	1	[	[	X
cblr-7808	328	2	https://perma.cc/eg7z-en6h	https://perma.cc/eg7z-en6h	X
cblr-7808	328	3	]	]	X
cblr-7808	328	4	;	;	PUNCT
cblr-7808	328	5	see	see	VERB
cblr-7808	328	6	also	also	ADV
cblr-7808	328	7	generally	generally	ADV
cblr-7808	328	8	lucian	lucian	PROPN
cblr-7808	328	9	a.	a.	NOUN
cblr-7808	328	10	bebchuk	bebchuk	PROPN
cblr-7808	328	11	,	,	PUNCT
cblr-7808	328	12	alon	alon	PROPN
cblr-7808	328	13	brav	brav	PROPN
cblr-7808	328	14	,	,	PUNCT
cblr-7808	328	15	wei	wei	PROPN
cblr-7808	328	16	jiang	jiang	PROPN
cblr-7808	328	17	&	&	CCONJ
cblr-7808	328	18	thomas	thomas	PROPN
cblr-7808	328	19	keusch	keusch	PROPN
cblr-7808	328	20	,	,	PUNCT
cblr-7808	328	21	dancing	dance	VERB
cblr-7808	328	22	with	with	ADP
cblr-7808	328	23	activists	activist	NOUN
cblr-7808	328	24	,	,	PUNCT
cblr-7808	328	25	137	137	NUM
cblr-7808	328	26	j.	j.	PROPN
cblr-7808	328	27	fin	fin	PROPN
cblr-7808	328	28	.	.	PUNCT
cblr-7808	328	29	econ	econ	PROPN
cblr-7808	328	30	.	.	PROPN
cblr-7808	329	1	1	1	NUM
cblr-7808	329	2	(	(	PUNCT
cblr-7808	329	3	2020	2020	NUM
cblr-7808	329	4	)	)	PUNCT
cblr-7808	329	5	(	(	PUNCT
cblr-7808	329	6	providing	provide	VERB
cblr-7808	329	7	data	datum	NOUN
cblr-7808	329	8	on	on	ADP
cblr-7808	329	9	activists	activist	NOUN
cblr-7808	329	10	’	'	PUNCT
cblr-7808	329	11	settlements	settlement	NOUN
cblr-7808	329	12	with	with	ADP
cblr-7808	329	13	boards	board	NOUN
cblr-7808	329	14	)	)	PUNCT
cblr-7808	329	15	.	.	PUNCT
cblr-7808	330	1	kastiel	kastiel	PROPN
cblr-7808	330	2	(	(	PUNCT
cblr-7808	330	3	comment	comment	NOUN
cblr-7808	330	4	)	)	PUNCT
cblr-7808	330	5	1/15/2021	1/15/2021	NUM
cblr-7808	330	6	2:38	2:38	NUM
cblr-7808	330	7	pm	pm	NOUN
cblr-7808	330	8	no	no	INTJ
cblr-7808	330	9	.	.	PUNCT
cblr-7808	331	1	3:834	3:834	NUM
cblr-7808	331	2	]	]	X
cblr-7808	331	3	long	long	ADJ
cblr-7808	331	4	-	-	PUNCT
cblr-7808	331	5	term	term	NOUN
cblr-7808	331	6	bias	bias	NOUN
cblr-7808	331	7	,	,	PUNCT
cblr-7808	331	8	incentives	incentive	NOUN
cblr-7808	331	9	,	,	PUNCT
cblr-7808	331	10	and	and	CCONJ
cblr-7808	331	11	agency	agency	NOUN
cblr-7808	331	12	costs	cost	VERB
cblr-7808	331	13	855	855	NUM
cblr-7808	331	14	allegedly	allegedly	ADV
cblr-7808	331	15	underperforming	underperform	VERB
cblr-7808	331	16	target	target	NOUN
cblr-7808	331	17	companies	company	NOUN
cblr-7808	331	18	in	in	ADP
cblr-7808	331	19	order	order	NOUN
cblr-7808	331	20	to	to	PART
cblr-7808	331	21	effect	effect	VERB
cblr-7808	331	22	change	change	NOUN
cblr-7808	331	23	in	in	ADP
cblr-7808	331	24	the	the	DET
cblr-7808	331	25	those	those	DET
cblr-7808	331	26	companies	company	NOUN
cblr-7808	331	27	’	'	PUNCT
cblr-7808	331	28	strategic	strategic	ADJ
cblr-7808	331	29	,	,	PUNCT
cblr-7808	331	30	operational	operational	ADJ
cblr-7808	331	31	,	,	PUNCT
cblr-7808	331	32	or	or	CCONJ
cblr-7808	331	33	financial	financial	ADJ
cblr-7808	331	34	policies.89	policies.89	NOUN
cblr-7808	331	35	they	they	PRON
cblr-7808	331	36	might	might	AUX
cblr-7808	331	37	propose	propose	VERB
cblr-7808	331	38	,	,	PUNCT
cblr-7808	331	39	for	for	ADP
cblr-7808	331	40	example	example	NOUN
cblr-7808	331	41	,	,	PUNCT
cblr-7808	331	42	divesting	divest	VERB
cblr-7808	331	43	assets	asset	NOUN
cblr-7808	331	44	,	,	PUNCT
cblr-7808	331	45	changing	change	VERB
cblr-7808	331	46	investment	investment	NOUN
cblr-7808	331	47	or	or	CCONJ
cblr-7808	331	48	payout	payout	NOUN
cblr-7808	331	49	levels	level	NOUN
cblr-7808	331	50	,	,	PUNCT
cblr-7808	331	51	altering	alter	VERB
cblr-7808	331	52	capital	capital	NOUN
cblr-7808	331	53	structure	structure	NOUN
cblr-7808	331	54	,	,	PUNCT
cblr-7808	331	55	or	or	CCONJ
cblr-7808	331	56	replacing	replace	VERB
cblr-7808	331	57	the	the	DET
cblr-7808	331	58	ceo	ceo	NOUN
cblr-7808	331	59	,	,	PUNCT
cblr-7808	331	60	often	often	ADV
cblr-7808	331	61	while	while	SCONJ
cblr-7808	331	62	threatening	threaten	VERB
cblr-7808	331	63	to	to	PART
cblr-7808	331	64	nominate	nominate	VERB
cblr-7808	331	65	their	their	PRON
cblr-7808	331	66	own	own	ADJ
cblr-7808	331	67	representatives	representative	NOUN
cblr-7808	331	68	to	to	ADP
cblr-7808	331	69	the	the	DET
cblr-7808	331	70	board	board	NOUN
cblr-7808	331	71	if	if	SCONJ
cblr-7808	331	72	target	target	NOUN
cblr-7808	331	73	companies	company	NOUN
cblr-7808	331	74	are	be	AUX
cblr-7808	331	75	unresponsive	unresponsive	ADJ
cblr-7808	331	76	to	to	ADP
cblr-7808	331	77	their	their	PRON
cblr-7808	331	78	demands.90	demands.90	ADJ
cblr-7808	331	79	activist	activist	ADJ
cblr-7808	331	80	hedge	hedge	NOUN
cblr-7808	331	81	funds	fund	NOUN
cblr-7808	331	82	undoubtedly	undoubtedly	ADV
cblr-7808	331	83	do	do	AUX
cblr-7808	331	84	not	not	PART
cblr-7808	331	85	suffer	suffer	VERB
cblr-7808	331	86	from	from	ADP
cblr-7808	331	87	a	a	DET
cblr-7808	331	88	longterm	longterm	ADJ
cblr-7808	331	89	bias.91	bias.91	NOUN
cblr-7808	331	90	their	their	PRON
cblr-7808	331	91	presence	presence	NOUN
cblr-7808	331	92	in	in	ADP
cblr-7808	331	93	a	a	DET
cblr-7808	331	94	company	company	NOUN
cblr-7808	331	95	with	with	ADP
cblr-7808	331	96	managers	manager	NOUN
cblr-7808	331	97	who	who	PRON
cblr-7808	331	98	demonstrate	demonstrate	VERB
cblr-7808	331	99	long	long	ADJ
cblr-7808	331	100	-	-	PUNCT
cblr-7808	331	101	term	term	NOUN
cblr-7808	331	102	bias	bias	NOUN
cblr-7808	331	103	can	can	AUX
cblr-7808	331	104	mitigate	mitigate	VERB
cblr-7808	331	105	such	such	ADJ
cblr-7808	331	106	bias.92	bias.92	NOUN
cblr-7808	331	107	indeed	indeed	ADV
cblr-7808	331	108	,	,	PUNCT
cblr-7808	331	109	barzuza	barzuza	NOUN
cblr-7808	331	110	and	and	CCONJ
cblr-7808	331	111	talley	talley	PROPN
cblr-7808	331	112	devote	devote	VERB
cblr-7808	331	113	a	a	DET
cblr-7808	331	114	significant	significant	ADJ
cblr-7808	331	115	part	part	NOUN
cblr-7808	331	116	of	of	ADP
cblr-7808	331	117	their	their	PRON
cblr-7808	331	118	article	article	NOUN
cblr-7808	331	119	to	to	ADP
cblr-7808	331	120	explaining	explain	VERB
cblr-7808	331	121	how	how	SCONJ
cblr-7808	331	122	activist	activist	ADJ
cblr-7808	331	123	hedge	hedge	NOUN
cblr-7808	331	124	funds	fund	NOUN
cblr-7808	331	125	may	may	AUX
cblr-7808	331	126	be	be	AUX
cblr-7808	331	127	“	"	PUNCT
cblr-7808	331	128	an	an	DET
cblr-7808	331	129	institutional	institutional	ADJ
cblr-7808	331	130	‘	'	PUNCT
cblr-7808	331	131	chaperone’”93	chaperone’”93	NOUN
cblr-7808	331	132	to	to	PART
cblr-7808	331	133	and	and	CCONJ
cblr-7808	331	134	“	"	PUNCT
cblr-7808	331	135	effective	effective	ADJ
cblr-7808	331	136	counter	counter	NOUN
cblr-7808	331	137	ballast”94	ballast”94	PROPN
cblr-7808	331	138	against	against	ADP
cblr-7808	331	139	longtermist	longtermist	ADJ
cblr-7808	331	140	overinvestment	overinvestment	NOUN
cblr-7808	331	141	.	.	PUNCT
cblr-7808	332	1	they	they	PRON
cblr-7808	332	2	also	also	ADV
cblr-7808	332	3	offer	offer	VERB
cblr-7808	332	4	fascinating	fascinating	ADJ
cblr-7808	332	5	examples	example	NOUN
cblr-7808	332	6	from	from	ADP
cblr-7808	332	7	three	three	NUM
cblr-7808	332	8	well	well	ADV
cblr-7808	332	9	-	-	PUNCT
cblr-7808	332	10	known	know	VERB
cblr-7808	332	11	companies	company	NOUN
cblr-7808	332	12	—	—	PUNCT
cblr-7808	332	13	yahoo	yahoo	PROPN
cblr-7808	332	14	,	,	PUNCT
cblr-7808	332	15	aol	aol	NOUN
cblr-7808	332	16	,	,	PUNCT
cblr-7808	332	17	and	and	CCONJ
cblr-7808	332	18	navistar—“where	navistar—“where	ADP
cblr-7808	332	19	long	long	ADJ
cblr-7808	332	20	-	-	PUNCT
cblr-7808	332	21	term	term	NOUN
cblr-7808	332	22	investment	investment	NOUN
cblr-7808	332	23	decisions	decision	NOUN
cblr-7808	332	24	were	be	AUX
cblr-7808	332	25	arguably	arguably	ADV
cblr-7808	332	26	biased	bias	VERB
cblr-7808	332	27	by	by	ADP
cblr-7808	332	28	overconfidence	overconfidence	NOUN
cblr-7808	332	29	,	,	PUNCT
cblr-7808	332	30	and	and	CCONJ
cblr-7808	332	31	their	their	PRON
cblr-7808	332	32	most	most	ADV
cblr-7808	332	33	deleterious	deleterious	ADJ
cblr-7808	332	34	effects	effect	NOUN
cblr-7808	332	35	were	be	AUX
cblr-7808	332	36	ultimately	ultimately	ADV
cblr-7808	332	37	interrupted	interrupt	VERB
cblr-7808	332	38	by	by	ADP
cblr-7808	332	39	hedge	hedge	NOUN
cblr-7808	332	40	fund	fund	NOUN
cblr-7808	332	41	activism	activism	NOUN
cblr-7808	332	42	.	.	PUNCT
cblr-7808	333	1	”95	”95	NOUN
cblr-7808	333	2	there	there	PRON
cblr-7808	333	3	is	be	VERB
cblr-7808	333	4	no	no	DET
cblr-7808	333	5	need	need	NOUN
cblr-7808	333	6	here	here	ADV
cblr-7808	333	7	to	to	PART
cblr-7808	333	8	delve	delve	VERB
cblr-7808	333	9	into	into	ADP
cblr-7808	333	10	the	the	DET
cblr-7808	333	11	role	role	NOUN
cblr-7808	333	12	that	that	PRON
cblr-7808	333	13	activist	activist	ADJ
cblr-7808	333	14	hedge	hedge	NOUN
cblr-7808	333	15	funds	fund	NOUN
cblr-7808	333	16	play	play	VERB
cblr-7808	333	17	in	in	ADP
cblr-7808	333	18	mitigating	mitigate	VERB
cblr-7808	333	19	managerial	managerial	ADJ
cblr-7808	333	20	long	long	ADJ
cblr-7808	333	21	-	-	PUNCT
cblr-7808	333	22	termism	termism	NOUN
cblr-7808	333	23	;	;	PUNCT
cblr-7808	333	24	barzuza	barzuza	NOUN
cblr-7808	333	25	and	and	CCONJ
cblr-7808	333	26	talley	talley	NOUN
cblr-7808	333	27	have	have	AUX
cblr-7808	333	28	documented	document	VERB
cblr-7808	333	29	it	it	PRON
cblr-7808	333	30	thoroughly	thoroughly	ADV
cblr-7808	333	31	and	and	CCONJ
cblr-7808	333	32	convincingly.96	convincingly.96	PROPN
cblr-7808	333	33	however	however	ADV
cblr-7808	333	34	,	,	PUNCT
cblr-7808	333	35	one	one	NUM
cblr-7808	333	36	additional	additional	ADJ
cblr-7808	333	37	insight	insight	NOUN
cblr-7808	333	38	about	about	ADP
cblr-7808	333	39	activist	activist	ADJ
cblr-7808	333	40	hedge	hedge	NOUN
cblr-7808	333	41	funds	fund	NOUN
cblr-7808	333	42	does	do	AUX
cblr-7808	333	43	merit	merit	VERB
cblr-7808	333	44	attention	attention	NOUN
cblr-7808	333	45	:	:	PUNCT
cblr-7808	333	46	they	they	PRON
cblr-7808	333	47	help	help	VERB
cblr-7808	333	48	to	to	PART
cblr-7808	333	49	curb	curb	VERB
cblr-7808	333	50	managerial	managerial	ADJ
cblr-7808	333	51	long	long	ADJ
cblr-7808	333	52	-	-	PUNCT
cblr-7808	333	53	termism	termism	NOUN
cblr-7808	333	54	not	not	PART
cblr-7808	333	55	just	just	ADV
cblr-7808	333	56	by	by	ADP
cblr-7808	333	57	discontinuing	discontinue	VERB
cblr-7808	333	58	valuedecreasing	valuedecreasing	NOUN
cblr-7808	333	59	investments	investment	NOUN
cblr-7808	333	60	ex	ex	PRON
cblr-7808	333	61	post	post	NOUN
cblr-7808	333	62	but	but	CCONJ
cblr-7808	333	63	also	also	ADV
cblr-7808	333	64	by	by	ADP
cblr-7808	333	65	providing	provide	VERB
cblr-7808	333	66	ex	ex	PRON
cblr-7808	333	67	ante	ante	NOUN
cblr-7808	333	68	incentives	incentive	NOUN
cblr-7808	333	69	to	to	ADP
cblr-7808	333	70	managers	manager	NOUN
cblr-7808	333	71	to	to	PART
cblr-7808	333	72	be	be	AUX
cblr-7808	333	73	more	more	ADV
cblr-7808	333	74	attentive	attentive	ADJ
cblr-7808	333	75	to	to	PART
cblr-7808	333	76	shareholder	shareholder	NOUN
cblr-7808	333	77	89	89	NUM
cblr-7808	333	78	see	see	VERB
cblr-7808	333	79	bebchuk	bebchuk	PROPN
cblr-7808	333	80	et	et	PROPN
cblr-7808	333	81	al	al	PROPN
cblr-7808	333	82	.	.	PROPN
cblr-7808	333	83	,	,	PUNCT
cblr-7808	333	84	supra	supra	PROPN
cblr-7808	333	85	note	note	NOUN
cblr-7808	333	86	4	4	NUM
cblr-7808	333	87	,	,	PUNCT
cblr-7808	333	88	at	at	ADP
cblr-7808	333	89	1090	1090	NUM
cblr-7808	333	90	,	,	PUNCT
cblr-7808	333	91	1106	1106	NUM
cblr-7808	333	92	;	;	PUNCT
cblr-7808	333	93	coffee	coffee	NOUN
cblr-7808	333	94	&	&	CCONJ
cblr-7808	333	95	palia	palia	PROPN
cblr-7808	333	96	,	,	PUNCT
cblr-7808	333	97	supra	supra	PROPN
cblr-7808	333	98	note	note	NOUN
cblr-7808	333	99	2	2	NUM
cblr-7808	333	100	,	,	PUNCT
cblr-7808	333	101	at	at	ADP
cblr-7808	333	102	573–74	573–74	PROPN
cblr-7808	333	103	.	.	PUNCT
cblr-7808	334	1	90	90	NUM
cblr-7808	334	2	see	see	VERB
cblr-7808	334	3	brav	brav	PROPN
cblr-7808	334	4	et	et	PROPN
cblr-7808	334	5	al	al	PROPN
cblr-7808	334	6	.	.	PROPN
cblr-7808	334	7	,	,	PUNCT
cblr-7808	334	8	supra	supra	PROPN
cblr-7808	334	9	note	note	NOUN
cblr-7808	334	10	4	4	NUM
cblr-7808	334	11	,	,	PUNCT
cblr-7808	334	12	at	at	ADP
cblr-7808	334	13	1730–1731	1730–1731	NUM
cblr-7808	334	14	;	;	PUNCT
cblr-7808	334	15	coffee	coffee	NOUN
cblr-7808	334	16	&	&	CCONJ
cblr-7808	334	17	palia	palia	PROPN
cblr-7808	334	18	,	,	PUNCT
cblr-7808	334	19	supra	supra	PROPN
cblr-7808	334	20	note	note	NOUN
cblr-7808	334	21	2	2	NUM
cblr-7808	334	22	,	,	PUNCT
cblr-7808	334	23	at	at	ADP
cblr-7808	334	24	582–583	582–583	NUM
cblr-7808	334	25	.	.	PUNCT
cblr-7808	335	1	91	91	NUM
cblr-7808	335	2	see	see	VERB
cblr-7808	335	3	marcel	marcel	PROPN
cblr-7808	335	4	kahan	kahan	PROPN
cblr-7808	335	5	&	&	CCONJ
cblr-7808	335	6	edward	edward	PROPN
cblr-7808	335	7	b.	b.	PROPN
cblr-7808	335	8	rock	rock	PROPN
cblr-7808	335	9	,	,	PUNCT
cblr-7808	335	10	hedge	hedge	NOUN
cblr-7808	335	11	funds	fund	NOUN
cblr-7808	335	12	in	in	ADP
cblr-7808	335	13	corporate	corporate	ADJ
cblr-7808	335	14	governance	governance	NOUN
cblr-7808	335	15	and	and	CCONJ
cblr-7808	335	16	corporate	corporate	ADJ
cblr-7808	335	17	control	control	NOUN
cblr-7808	335	18	,	,	PUNCT
cblr-7808	335	19	155	155	NUM
cblr-7808	335	20	u.	u.	PROPN
cblr-7808	335	21	pa	pa	PROPN
cblr-7808	335	22	.	.	PUNCT
cblr-7808	335	23	l.	l.	PROPN
cblr-7808	335	24	rev	rev	PROPN
cblr-7808	335	25	.	.	PROPN
cblr-7808	335	26	1021	1021	NUM
cblr-7808	335	27	,	,	PUNCT
cblr-7808	335	28	1083–84	1083–84	PROPN
cblr-7808	335	29	(	(	PUNCT
cblr-7808	335	30	2007	2007	NUM
cblr-7808	335	31	)	)	PUNCT
cblr-7808	335	32	.	.	PUNCT
cblr-7808	336	1	92	92	NUM
cblr-7808	336	2	see	see	VERB
cblr-7808	336	3	barzuza	barzuza	NOUN
cblr-7808	336	4	&	&	CCONJ
cblr-7808	336	5	talley	talley	PROPN
cblr-7808	336	6	,	,	PUNCT
cblr-7808	336	7	supra	supra	PROPN
cblr-7808	336	8	note	note	NOUN
cblr-7808	336	9	6	6	NUM
cblr-7808	336	10	,	,	PUNCT
cblr-7808	336	11	at	at	ADP
cblr-7808	336	12	173–75	173–75	NUM
cblr-7808	336	13	.	.	PUNCT
cblr-7808	337	1	93	93	NUM
cblr-7808	338	1	i	i	PRON
cblr-7808	338	2	d.	d.	PROPN
cblr-7808	338	3	at	at	ADP
cblr-7808	338	4	120	120	NUM
cblr-7808	338	5	94	94	NUM
cblr-7808	338	6	i	i	PRON
cblr-7808	338	7	d.	d.	PROPN
cblr-7808	338	8	at	at	ADP
cblr-7808	338	9	173	173	NUM
cblr-7808	338	10	.	.	PUNCT
cblr-7808	338	11	95	95	NUM
cblr-7808	339	1	i	i	PRON
cblr-7808	339	2	d.	d.	PROPN
cblr-7808	339	3	at	at	ADP
cblr-7808	339	4	155	155	NUM
cblr-7808	339	5	.	.	PUNCT
cblr-7808	340	1	96	96	NUM
cblr-7808	340	2	see	see	VERB
cblr-7808	340	3	i	i	PRON
cblr-7808	340	4	d.	d.	PROPN
cblr-7808	340	5	at	at	ADP
cblr-7808	340	6	173–75	173–75	PROPN
cblr-7808	340	7	.	.	PUNCT
cblr-7808	341	1	kastiel	kastiel	PROPN
cblr-7808	341	2	(	(	PUNCT
cblr-7808	341	3	comment	comment	NOUN
cblr-7808	341	4	)	)	PUNCT
cblr-7808	341	5	1/15/2021	1/15/2021	NUM
cblr-7808	341	6	2:38	2:38	NUM
cblr-7808	341	7	pm	pm	NOUN
cblr-7808	341	8	856	856	NUM
cblr-7808	341	9	columbia	columbia	PROPN
cblr-7808	341	10	business	business	NOUN
cblr-7808	341	11	law	law	PROPN
cblr-7808	341	12	review	review	NOUN
cblr-7808	341	13	[	[	X
cblr-7808	341	14	vol	vol	NOUN
cblr-7808	341	15	.	.	PUNCT
cblr-7808	341	16	2020	2020	NUM
cblr-7808	341	17	demands	demand	NOUN
cblr-7808	341	18	and	and	CCONJ
cblr-7808	341	19	to	to	PART
cblr-7808	341	20	perform	perform	VERB
cblr-7808	341	21	well.97	well.97	NOUN
cblr-7808	341	22	if	if	SCONJ
cblr-7808	341	23	management	management	NOUN
cblr-7808	341	24	is	be	AUX
cblr-7808	341	25	concerned	concerned	ADJ
cblr-7808	341	26	about	about	ADP
cblr-7808	341	27	the	the	DET
cblr-7808	341	28	likelihood	likelihood	NOUN
cblr-7808	341	29	of	of	ADP
cblr-7808	341	30	becoming	become	VERB
cblr-7808	341	31	an	an	DET
cblr-7808	341	32	activist	activist	ADJ
cblr-7808	341	33	target	target	NOUN
cblr-7808	341	34	,	,	PUNCT
cblr-7808	341	35	even	even	ADV
cblr-7808	341	36	in	in	ADP
cblr-7808	341	37	the	the	DET
cblr-7808	341	38	absence	absence	NOUN
cblr-7808	341	39	of	of	ADP
cblr-7808	341	40	actual	actual	ADJ
cblr-7808	341	41	activist	activist	ADJ
cblr-7808	341	42	engagement	engagement	NOUN
cblr-7808	341	43	,	,	PUNCT
cblr-7808	341	44	“	"	PUNCT
cblr-7808	341	45	management	management	NOUN
cblr-7808	341	46	will	will	AUX
cblr-7808	341	47	try	try	VERB
cblr-7808	341	48	ex	ex	PRON
cblr-7808	341	49	ante	ante	VERB
cblr-7808	341	50	to	to	PART
cblr-7808	341	51	avoid	avoid	VERB
cblr-7808	341	52	such	such	DET
cblr-7808	341	53	a	a	DET
cblr-7808	341	54	campaign	campaign	NOUN
cblr-7808	341	55	.	.	PUNCT
cblr-7808	341	56	.	.	PUNCT
cblr-7808	341	57	.	.	PUNCT
cblr-7808	342	1	by	by	ADP
cblr-7808	342	2	proactively	proactively	ADV
cblr-7808	342	3	taking	take	VERB
cblr-7808	342	4	steps	step	NOUN
cblr-7808	342	5	to	to	PART
cblr-7808	342	6	increase	increase	VERB
cblr-7808	342	7	shareholder	shareholder	NOUN
cblr-7808	342	8	value	value	NOUN
cblr-7808	342	9	,	,	PUNCT
cblr-7808	342	10	such	such	ADJ
cblr-7808	342	11	as	as	ADP
cblr-7808	342	12	increasing	increase	VERB
cblr-7808	342	13	leverage	leverage	NOUN
cblr-7808	342	14	or	or	CCONJ
cblr-7808	342	15	decreasing	decrease	VERB
cblr-7808	342	16	capital	capital	NOUN
cblr-7808	342	17	expenditures	expenditure	NOUN
cblr-7808	342	18	.	.	PUNCT
cblr-7808	342	19	”98	”98	NOUN
cblr-7808	342	20	boards	board	NOUN
cblr-7808	342	21	with	with	ADP
cblr-7808	342	22	a	a	DET
cblr-7808	342	23	healthy	healthy	ADJ
cblr-7808	342	24	respect	respect	NOUN
cblr-7808	342	25	for	for	ADP
cblr-7808	342	26	communication	communication	NOUN
cblr-7808	342	27	with	with	ADP
cblr-7808	342	28	shareholders	shareholder	NOUN
cblr-7808	342	29	will	will	AUX
cblr-7808	342	30	find	find	VERB
cblr-7808	342	31	success.99	success.99	NOUN
cblr-7808	342	32	at	at	ADP
cblr-7808	342	33	the	the	DET
cblr-7808	342	34	other	other	ADJ
cblr-7808	342	35	extreme	extreme	NOUN
cblr-7808	342	36	,	,	PUNCT
cblr-7808	342	37	failure	failure	NOUN
cblr-7808	342	38	to	to	PART
cblr-7808	342	39	engage	engage	VERB
cblr-7808	342	40	with	with	ADP
cblr-7808	342	41	shareholders	shareholder	NOUN
cblr-7808	342	42	can	can	AUX
cblr-7808	342	43	be	be	AUX
cblr-7808	342	44	detrimental	detrimental	ADJ
cblr-7808	342	45	to	to	ADP
cblr-7808	342	46	management	management	NOUN
cblr-7808	342	47	in	in	ADP
cblr-7808	342	48	firms	firm	NOUN
cblr-7808	342	49	later	later	ADV
cblr-7808	342	50	facing	face	VERB
cblr-7808	342	51	activist	activist	NOUN
cblr-7808	342	52	challenges.100	challenges.100	VERB
cblr-7808	342	53	*	*	PUNCT
cblr-7808	342	54	*	*	PUNCT
cblr-7808	342	55	*	*	PUNCT
cblr-7808	342	56	at	at	ADP
cblr-7808	342	57	this	this	DET
cblr-7808	342	58	point	point	NOUN
cblr-7808	342	59	,	,	PUNCT
cblr-7808	342	60	i	i	PRON
cblr-7808	342	61	have	have	AUX
cblr-7808	342	62	discussed	discuss	VERB
cblr-7808	342	63	four	four	NUM
cblr-7808	342	64	major	major	ADJ
cblr-7808	342	65	factors	factor	NOUN
cblr-7808	342	66	that	that	PRON
cblr-7808	342	67	could	could	AUX
cblr-7808	342	68	curb	curb	VERB
cblr-7808	342	69	managerial	managerial	ADJ
cblr-7808	342	70	long	long	ADJ
cblr-7808	342	71	-	-	PUNCT
cblr-7808	342	72	termism	termism	NOUN
cblr-7808	342	73	,	,	PUNCT
cblr-7808	342	74	at	at	ADP
cblr-7808	342	75	least	least	ADJ
cblr-7808	342	76	in	in	ADP
cblr-7808	342	77	the	the	DET
cblr-7808	342	78	majority	majority	NOUN
cblr-7808	342	79	of	of	ADP
cblr-7808	342	80	the	the	DET
cblr-7808	342	81	cases	case	NOUN
cblr-7808	342	82	:	:	PUNCT
cblr-7808	342	83	executive	executive	ADJ
cblr-7808	342	84	compensation	compensation	NOUN
cblr-7808	342	85	,	,	PUNCT
cblr-7808	342	86	market	market	NOUN
cblr-7808	342	87	signals	signal	NOUN
cblr-7808	342	88	,	,	PUNCT
cblr-7808	342	89	risk	risk	NOUN
cblr-7808	342	90	of	of	ADP
cblr-7808	342	91	removal	removal	NOUN
cblr-7808	342	92	,	,	PUNCT
cblr-7808	342	93	and	and	CCONJ
cblr-7808	342	94	hedge	hedge	NOUN
cblr-7808	342	95	fund	fund	NOUN
cblr-7808	342	96	activism	activism	NOUN
cblr-7808	342	97	.	.	PUNCT
cblr-7808	343	1	to	to	PART
cblr-7808	343	2	be	be	AUX
cblr-7808	343	3	clear	clear	ADJ
cblr-7808	343	4	,	,	PUNCT
cblr-7808	343	5	the	the	DET
cblr-7808	343	6	presence	presence	NOUN
cblr-7808	343	7	of	of	ADP
cblr-7808	343	8	these	these	DET
cblr-7808	343	9	mitigating	mitigate	VERB
cblr-7808	343	10	incentives	incentive	NOUN
cblr-7808	343	11	does	do	AUX
cblr-7808	343	12	not	not	PART
cblr-7808	343	13	ensure	ensure	VERB
cblr-7808	343	14	that	that	SCONJ
cblr-7808	343	15	managers	manager	NOUN
cblr-7808	343	16	will	will	AUX
cblr-7808	343	17	always	always	ADV
cblr-7808	343	18	make	make	VERB
cblr-7808	343	19	decisions	decision	NOUN
cblr-7808	343	20	that	that	PRON
cblr-7808	343	21	align	align	VERB
cblr-7808	343	22	with	with	ADP
cblr-7808	343	23	shareholder	shareholder	NOUN
cblr-7808	343	24	interests	interest	NOUN
cblr-7808	343	25	.	.	PUNCT
cblr-7808	344	1	as	as	SCONJ
cblr-7808	344	2	agency	agency	NOUN
cblr-7808	344	3	theories	theory	NOUN
cblr-7808	344	4	show	show	VERB
cblr-7808	344	5	,	,	PUNCT
cblr-7808	344	6	managers	manager	NOUN
cblr-7808	344	7	could	could	AUX
cblr-7808	344	8	have	have	VERB
cblr-7808	344	9	incentives	incentive	NOUN
cblr-7808	344	10	to	to	PART
cblr-7808	344	11	deviate	deviate	VERB
cblr-7808	344	12	from	from	ADP
cblr-7808	344	13	optimal	optimal	ADJ
cblr-7808	344	14	decisions	decision	NOUN
cblr-7808	344	15	in	in	ADP
cblr-7808	344	16	order	order	NOUN
cblr-7808	344	17	to	to	PART
cblr-7808	344	18	advance	advance	VERB
cblr-7808	344	19	their	their	PRON
cblr-7808	344	20	self	self	NOUN
cblr-7808	344	21	-	-	PUNCT
cblr-7808	344	22	interest	interest	NOUN
cblr-7808	344	23	at	at	ADP
cblr-7808	344	24	the	the	DET
cblr-7808	344	25	expense	expense	NOUN
cblr-7808	344	26	of	of	ADP
cblr-7808	344	27	maximizing	maximize	VERB
cblr-7808	344	28	shareholder	shareholder	NOUN
cblr-7808	344	29	value.101	value.101	NOUN
cblr-7808	344	30	in	in	ADP
cblr-7808	344	31	addition	addition	NOUN
cblr-7808	344	32	,	,	PUNCT
cblr-7808	344	33	some	some	DET
cblr-7808	344	34	scholars	scholar	NOUN
cblr-7808	344	35	view	view	VERB
cblr-7808	344	36	the	the	DET
cblr-7808	344	37	board	board	NOUN
cblr-7808	344	38	of	of	ADP
cblr-7808	344	39	directors	director	NOUN
cblr-7808	344	40	as	as	ADP
cblr-7808	344	41	another	another	DET
cblr-7808	344	42	mitigating	mitigating	NOUN
cblr-7808	344	43	force	force	NOUN
cblr-7808	344	44	and	and	CCONJ
cblr-7808	344	45	argue	argue	VERB
cblr-7808	344	46	that	that	SCONJ
cblr-7808	344	47	the	the	DET
cblr-7808	344	48	task	task	NOUN
cblr-7808	344	49	of	of	ADP
cblr-7808	344	50	policing	police	VERB
cblr-7808	344	51	managerial	managerial	ADJ
cblr-7808	344	52	time	time	NOUN
cblr-7808	344	53	horizon	horizon	PROPN
cblr-7808	344	54	biases	bias	NOUN
cblr-7808	344	55	should	should	AUX
cblr-7808	344	56	be	be	AUX
cblr-7808	344	57	left	leave	VERB
cblr-7808	344	58	to	to	ADP
cblr-7808	344	59	the	the	DET
cblr-7808	344	60	board.102	board.102	PROPN
cblr-7808	344	61	directors	director	NOUN
cblr-7808	344	62	can	can	AUX
cblr-7808	344	63	curb	curb	VERB
cblr-7808	344	64	managerial	managerial	ADJ
cblr-7808	344	65	long	long	ADJ
cblr-7808	344	66	-	-	PUNCT
cblr-7808	344	67	term	term	NOUN
cblr-7808	344	68	bias	bias	NOUN
cblr-7808	344	69	only	only	ADV
cblr-7808	344	70	to	to	ADP
cblr-7808	344	71	the	the	DET
cblr-7808	344	72	extent	extent	NOUN
cblr-7808	344	73	that	that	SCONJ
cblr-7808	344	74	they	they	PRON
cblr-7808	344	75	can	can	AUX
cblr-7808	344	76	exert	exert	VERB
cblr-7808	344	77	significant	significant	ADJ
cblr-7808	344	78	influence	influence	NOUN
cblr-7808	344	79	over	over	ADP
cblr-7808	344	80	overconfident	overconfident	ADJ
cblr-7808	344	81	managers	manager	NOUN
cblr-7808	344	82	.	.	PUNCT
cblr-7808	345	1	but	but	CCONJ
cblr-7808	345	2	as	as	SCONJ
cblr-7808	345	3	yaron	yaron	PROPN
cblr-7808	345	4	nili	nili	PROPN
cblr-7808	345	5	and	and	CCONJ
cblr-7808	345	6	i	i	PRON
cblr-7808	345	7	have	have	AUX
cblr-7808	345	8	shown	show	VERB
cblr-7808	345	9	elsewhere	elsewhere	ADV
cblr-7808	345	10	,	,	PUNCT
cblr-7808	345	11	“	"	PUNCT
cblr-7808	345	12	independent	independent	ADJ
cblr-7808	345	13	”	"	PUNCT
cblr-7808	345	14	board	board	NOUN
cblr-7808	345	15	members	member	NOUN
cblr-7808	345	16	are	be	AUX
cblr-7808	345	17	often	often	ADV
cblr-7808	345	18	too	too	ADV
cblr-7808	345	19	dependent	dependent	ADJ
cblr-7808	345	20	on	on	ADP
cblr-7808	345	21	the	the	DET
cblr-7808	345	22	information	information	NOUN
cblr-7808	345	23	management	management	NOUN
cblr-7808	345	24	chooses	choose	VERB
cblr-7808	345	25	to	to	PART
cblr-7808	345	26	provide	provide	VERB
cblr-7808	345	27	or	or	CCONJ
cblr-7808	345	28	conceal	conceal	VERB
cblr-7808	345	29	,	,	PUNCT
cblr-7808	345	30	as	as	ADV
cblr-7808	345	31	well	well	ADV
cblr-7808	345	32	as	as	ADP
cblr-7808	345	33	on	on	ADP
cblr-7808	345	34	the	the	DET
cblr-7808	345	35	manner	manner	NOUN
cblr-7808	345	36	in	in	ADP
cblr-7808	345	37	which	which	DET
cblr-7808	345	38	management	management	NOUN
cblr-7808	345	39	97	97	NUM
cblr-7808	345	40	see	see	VERB
cblr-7808	345	41	kastiel	kastiel	PROPN
cblr-7808	345	42	&	&	CCONJ
cblr-7808	345	43	nili	nili	PROPN
cblr-7808	345	44	,	,	PUNCT
cblr-7808	345	45	supra	supra	PROPN
cblr-7808	345	46	note	note	NOUN
cblr-7808	345	47	78	78	NUM
cblr-7808	345	48	,	,	PUNCT
cblr-7808	345	49	at	at	ADP
cblr-7808	345	50	302	302	NUM
cblr-7808	345	51	.	.	PUNCT
cblr-7808	345	52	98	98	NUM
cblr-7808	346	1	i	i	PROPN
cblr-7808	346	2	d.	d.	PROPN
cblr-7808	346	3	;	;	PUNCT
cblr-7808	346	4	see	see	VERB
cblr-7808	346	5	also	also	ADV
cblr-7808	346	6	assaf	assaf	PROPN
cblr-7808	346	7	hamdani	hamdani	PROPN
cblr-7808	346	8	&	&	CCONJ
cblr-7808	346	9	sharon	sharon	PROPN
cblr-7808	346	10	hannes	hannes	PROPN
cblr-7808	346	11	,	,	PUNCT
cblr-7808	346	12	the	the	DET
cblr-7808	346	13	future	future	NOUN
cblr-7808	346	14	of	of	ADP
cblr-7808	346	15	shareholder	shareholder	NOUN
cblr-7808	346	16	activism	activism	NOUN
cblr-7808	346	17	,	,	PUNCT
cblr-7808	346	18	99	99	NUM
cblr-7808	346	19	b.u	b.u	PROPN
cblr-7808	346	20	.	.	PROPN
cblr-7808	346	21	l.	l.	PROPN
cblr-7808	346	22	rev	rev	PROPN
cblr-7808	346	23	.	.	PROPN
cblr-7808	346	24	971	971	NUM
cblr-7808	346	25	,	,	PUNCT
cblr-7808	346	26	984–85	984–85	NUM
cblr-7808	346	27	(	(	PUNCT
cblr-7808	346	28	2019	2019	NUM
cblr-7808	346	29	)	)	PUNCT
cblr-7808	346	30	.	.	PUNCT
cblr-7808	347	1	99	99	NUM
cblr-7808	347	2	see	see	VERB
cblr-7808	347	3	hamdani	hamdani	PROPN
cblr-7808	347	4	&	&	CCONJ
cblr-7808	347	5	hannes	hannes	PROPN
cblr-7808	347	6	,	,	PUNCT
cblr-7808	347	7	supra	supra	PROPN
cblr-7808	347	8	note	note	PROPN
cblr-7808	347	9	99	99	NUM
cblr-7808	347	10	,	,	PUNCT
cblr-7808	347	11	at	at	ADP
cblr-7808	347	12	985–92	985–92	NOUN
cblr-7808	347	13	(	(	PUNCT
cblr-7808	347	14	discussing	discuss	VERB
cblr-7808	347	15	the	the	DET
cblr-7808	347	16	incentives	incentive	NOUN
cblr-7808	347	17	for	for	SCONJ
cblr-7808	347	18	corporations	corporation	NOUN
cblr-7808	347	19	to	to	PART
cblr-7808	347	20	communicate	communicate	VERB
cblr-7808	347	21	with	with	ADP
cblr-7808	347	22	activist	activist	ADJ
cblr-7808	347	23	shareholders	shareholder	NOUN
cblr-7808	347	24	)	)	PUNCT
cblr-7808	347	25	.	.	PUNCT
cblr-7808	348	1	100	100	NUM
cblr-7808	348	2	see	see	VERB
cblr-7808	348	3	i	i	PRON
cblr-7808	348	4	d.	d.	PROPN
cblr-7808	348	5	101	101	NUM
cblr-7808	348	6	for	for	ADP
cblr-7808	348	7	a	a	DET
cblr-7808	348	8	fuller	full	ADJ
cblr-7808	348	9	discussion	discussion	NOUN
cblr-7808	348	10	of	of	ADP
cblr-7808	348	11	this	this	DET
cblr-7808	348	12	point	point	NOUN
cblr-7808	348	13	,	,	PUNCT
cblr-7808	348	14	see	see	VERB
cblr-7808	348	15	infra	infra	NOUN
cblr-7808	348	16	part	part	NOUN
cblr-7808	348	17	iii	iii	NOUN
cblr-7808	348	18	.	.	PROPN
cblr-7808	348	19	102	102	NUM
cblr-7808	348	20	see	see	NOUN
cblr-7808	348	21	,	,	PUNCT
cblr-7808	348	22	e.g.	e.g.	ADV
cblr-7808	348	23	,	,	PUNCT
cblr-7808	348	24	bainbridge	bainbridge	PROPN
cblr-7808	348	25	,	,	PUNCT
cblr-7808	348	26	supra	supra	PROPN
cblr-7808	348	27	note	note	PROPN
cblr-7808	348	28	21	21	NUM
cblr-7808	348	29	,	,	PUNCT
cblr-7808	348	30	at	at	ADP
cblr-7808	348	31	833	833	NUM
cblr-7808	348	32	.	.	PUNCT
cblr-7808	349	1	kastiel	kastiel	NOUN
cblr-7808	349	2	(	(	PUNCT
cblr-7808	349	3	comment	comment	NOUN
cblr-7808	349	4	)	)	PUNCT
cblr-7808	349	5	1/15/2021	1/15/2021	NUM
cblr-7808	349	6	2:38	2:38	NUM
cblr-7808	349	7	pm	pm	NOUN
cblr-7808	349	8	no	no	INTJ
cblr-7808	349	9	.	.	PUNCT
cblr-7808	350	1	3:834	3:834	NUM
cblr-7808	350	2	]	]	X
cblr-7808	350	3	long	long	ADJ
cblr-7808	350	4	-	-	PUNCT
cblr-7808	350	5	term	term	NOUN
cblr-7808	350	6	bias	bias	NOUN
cblr-7808	350	7	,	,	PUNCT
cblr-7808	350	8	incentives	incentive	NOUN
cblr-7808	350	9	,	,	PUNCT
cblr-7808	350	10	and	and	CCONJ
cblr-7808	350	11	agency	agency	NOUN
cblr-7808	350	12	costs	cost	VERB
cblr-7808	350	13	857	857	NUM
cblr-7808	350	14	presents	present	VERB
cblr-7808	350	15	it	it	PRON
cblr-7808	350	16	to	to	ADP
cblr-7808	350	17	the	the	DET
cblr-7808	350	18	board.103	board.103	NOUN
cblr-7808	350	19	we	we	PRON
cblr-7808	350	20	classify	classify	VERB
cblr-7808	350	21	this	this	PRON
cblr-7808	350	22	as	as	SCONJ
cblr-7808	350	23	the	the	DET
cblr-7808	350	24	“	"	PUNCT
cblr-7808	350	25	informational	informational	ADJ
cblr-7808	350	26	capture	capture	NOUN
cblr-7808	350	27	”	"	PUNCT
cblr-7808	350	28	of	of	ADP
cblr-7808	350	29	the	the	DET
cblr-7808	350	30	board.104	board.104	NOUN
cblr-7808	350	31	independent	independent	ADJ
cblr-7808	350	32	directors	director	NOUN
cblr-7808	350	33	also	also	ADV
cblr-7808	350	34	lack	lack	VERB
cblr-7808	350	35	time	time	NOUN
cblr-7808	350	36	and	and	CCONJ
cblr-7808	350	37	adequate	adequate	ADJ
cblr-7808	350	38	resources	resource	NOUN
cblr-7808	350	39	to	to	PART
cblr-7808	350	40	properly	properly	ADV
cblr-7808	350	41	digest	digest	VERB
cblr-7808	350	42	and	and	CCONJ
cblr-7808	350	43	analyze	analyze	VERB
cblr-7808	350	44	the	the	DET
cblr-7808	350	45	information	information	NOUN
cblr-7808	350	46	they	they	PRON
cblr-7808	350	47	receive	receive	VERB
cblr-7808	350	48	,	,	PUNCT
cblr-7808	350	49	and	and	CCONJ
cblr-7808	350	50	they	they	PRON
cblr-7808	350	51	often	often	ADV
cblr-7808	350	52	lack	lack	VERB
cblr-7808	350	53	knowledge	knowledge	NOUN
cblr-7808	350	54	of	of	ADP
cblr-7808	350	55	the	the	DET
cblr-7808	350	56	specific	specific	ADJ
cblr-7808	350	57	characteristics	characteristic	NOUN
cblr-7808	350	58	of	of	ADP
cblr-7808	350	59	the	the	DET
cblr-7808	350	60	firm	firm	NOUN
cblr-7808	350	61	on	on	ADP
cblr-7808	350	62	whose	whose	DET
cblr-7808	350	63	board	board	NOUN
cblr-7808	350	64	they	they	PRON
cblr-7808	350	65	sit	sit	VERB
cblr-7808	350	66	or	or	CCONJ
cblr-7808	350	67	even	even	ADV
cblr-7808	350	68	of	of	ADP
cblr-7808	350	69	the	the	DET
cblr-7808	350	70	firm	firm	NOUN
cblr-7808	350	71	’s	’s	PART
cblr-7808	350	72	industry.105	industry.105	NOUN
cblr-7808	350	73	moreover	moreover	ADV
cblr-7808	350	74	,	,	PUNCT
cblr-7808	350	75	studies	study	NOUN
cblr-7808	350	76	have	have	AUX
cblr-7808	350	77	shown	show	VERB
cblr-7808	350	78	that	that	SCONJ
cblr-7808	350	79	ceos	ceos	NOUN
cblr-7808	350	80	may	may	AUX
cblr-7808	350	81	exercise	exercise	VERB
cblr-7808	350	82	strong	strong	ADJ
cblr-7808	350	83	influence	influence	NOUN
cblr-7808	350	84	over	over	ADP
cblr-7808	350	85	directors	director	NOUN
cblr-7808	350	86	’	'	PUNCT
cblr-7808	350	87	nominations	nomination	NOUN
cblr-7808	350	88	,	,	PUNCT
cblr-7808	350	89	which	which	PRON
cblr-7808	350	90	could	could	AUX
cblr-7808	350	91	affect	affect	VERB
cblr-7808	350	92	the	the	DET
cblr-7808	350	93	latter	latter	NOUN
cblr-7808	350	94	’s	’s	PART
cblr-7808	350	95	decisionmaking	decisionmake	VERB
cblr-7808	350	96	processes.106	processes.106	NOUN
cblr-7808	350	97	together	together	ADV
cblr-7808	350	98	,	,	PUNCT
cblr-7808	350	99	informational	informational	ADJ
cblr-7808	350	100	capture	capture	NOUN
cblr-7808	350	101	and	and	CCONJ
cblr-7808	350	102	the	the	DET
cblr-7808	350	103	power	power	NOUN
cblr-7808	350	104	dynamic	dynamic	NOUN
cblr-7808	350	105	in	in	ADP
cblr-7808	350	106	a	a	DET
cblr-7808	350	107	company	company	NOUN
cblr-7808	350	108	will	will	AUX
cblr-7808	350	109	impact	impact	VERB
cblr-7808	350	110	the	the	DET
cblr-7808	350	111	possibility	possibility	NOUN
cblr-7808	350	112	of	of	ADP
cblr-7808	350	113	directors	director	NOUN
cblr-7808	350	114	being	be	AUX
cblr-7808	350	115	able	able	ADJ
cblr-7808	350	116	to	to	PART
cblr-7808	350	117	mitigate	mitigate	VERB
cblr-7808	350	118	long	long	ADJ
cblr-7808	350	119	-	-	PUNCT
cblr-7808	350	120	term	term	NOUN
cblr-7808	350	121	bias	bias	NOUN
cblr-7808	350	122	.	.	PUNCT
cblr-7808	351	1	barzuza	barzuza	NOUN
cblr-7808	351	2	and	and	CCONJ
cblr-7808	351	3	talley	talley	NOUN
cblr-7808	351	4	have	have	AUX
cblr-7808	351	5	demonstrated	demonstrate	VERB
cblr-7808	351	6	convincingly	convincingly	ADV
cblr-7808	351	7	that	that	SCONJ
cblr-7808	351	8	increasing	increase	VERB
cblr-7808	351	9	board	board	NOUN
cblr-7808	351	10	insulation	insulation	NOUN
cblr-7808	351	11	from	from	ADP
cblr-7808	351	12	shareholder	shareholder	NOUN
cblr-7808	351	13	activism	activism	NOUN
cblr-7808	351	14	and	and	CCONJ
cblr-7808	351	15	hedge	hedge	NOUN
cblr-7808	351	16	fund	fund	NOUN
cblr-7808	351	17	intervention	intervention	NOUN
cblr-7808	351	18	is	be	AUX
cblr-7808	351	19	likely	likely	ADJ
cblr-7808	351	20	to	to	PART
cblr-7808	351	21	exacerbate	exacerbate	VERB
cblr-7808	351	22	,	,	PUNCT
cblr-7808	351	23	rather	rather	ADV
cblr-7808	351	24	than	than	ADP
cblr-7808	351	25	mitigate	mitigate	VERB
cblr-7808	351	26	,	,	PUNCT
cblr-7808	351	27	managerial	managerial	ADJ
cblr-7808	351	28	longterm	longterm	NOUN
cblr-7808	351	29	bias	bias	NOUN
cblr-7808	351	30	and	and	CCONJ
cblr-7808	351	31	will	will	AUX
cblr-7808	351	32	reduce	reduce	VERB
cblr-7808	351	33	their	their	PRON
cblr-7808	351	34	accountability	accountability	NOUN
cblr-7808	351	35	to	to	ADP
cblr-7808	351	36	public	public	ADJ
cblr-7808	351	37	investors.107	investors.107	NOUN
cblr-7808	351	38	i	i	PRON
cblr-7808	351	39	discuss	discuss	VERB
cblr-7808	351	40	this	this	DET
cblr-7808	351	41	point	point	NOUN
cblr-7808	351	42	in	in	ADP
cblr-7808	351	43	part	part	NOUN
cblr-7808	351	44	iv	iv	NUM
cblr-7808	351	45	.	.	PUNCT
cblr-7808	351	46	iii	iii	PROPN
cblr-7808	351	47	.	.	PUNCT
cblr-7808	352	1	long	long	ADJ
cblr-7808	352	2	-	-	PUNCT
cblr-7808	352	3	term	term	NOUN
cblr-7808	352	4	bias	bias	NOUN
cblr-7808	352	5	as	as	ADP
cblr-7808	352	6	a	a	DET
cblr-7808	352	7	private	private	ADJ
cblr-7808	352	8	benefit	benefit	NOUN
cblr-7808	352	9	?	?	PUNCT
cblr-7808	353	1	a	a	DET
cblr-7808	353	2	well	well	ADV
cblr-7808	353	3	-	-	PUNCT
cblr-7808	353	4	known	know	VERB
cblr-7808	353	5	agency	agency	NOUN
cblr-7808	353	6	problem	problem	NOUN
cblr-7808	353	7	concerns	concern	VERB
cblr-7808	353	8	the	the	DET
cblr-7808	353	9	interest	interest	NOUN
cblr-7808	353	10	of	of	ADP
cblr-7808	353	11	corporate	corporate	ADJ
cblr-7808	353	12	leaders	leader	NOUN
cblr-7808	353	13	in	in	ADP
cblr-7808	353	14	empire	empire	NOUN
cblr-7808	353	15	building	building	NOUN
cblr-7808	353	16	—	—	PUNCT
cblr-7808	353	17	expansion	expansion	NOUN
cblr-7808	353	18	of	of	ADP
cblr-7808	353	19	the	the	DET
cblr-7808	353	20	business	business	NOUN
cblr-7808	353	21	beyond	beyond	ADP
cblr-7808	353	22	the	the	DET
cblr-7808	353	23	optimal	optimal	ADJ
cblr-7808	353	24	size	size	NOUN
cblr-7808	353	25	—	—	PUNCT
cblr-7808	353	26	when	when	SCONJ
cblr-7808	353	27	they	they	PRON
cblr-7808	353	28	expect	expect	VERB
cblr-7808	353	29	103	103	NUM
cblr-7808	353	30	see	see	NOUN
cblr-7808	353	31	kobi	kobi	PROPN
cblr-7808	353	32	kastiel	kastiel	PROPN
cblr-7808	353	33	&	&	CCONJ
cblr-7808	353	34	yaron	yaron	PROPN
cblr-7808	353	35	nili	nili	PROPN
cblr-7808	353	36	,	,	PUNCT
cblr-7808	353	37	“	"	PUNCT
cblr-7808	353	38	captured	capture	VERB
cblr-7808	353	39	boards	board	NOUN
cblr-7808	353	40	”	"	PUNCT
cblr-7808	353	41	:	:	PUNCT
cblr-7808	353	42	the	the	DET
cblr-7808	353	43	rise	rise	NOUN
cblr-7808	353	44	of	of	ADP
cblr-7808	353	45	“	"	PUNCT
cblr-7808	353	46	super	super	ADJ
cblr-7808	353	47	directors	director	NOUN
cblr-7808	353	48	”	"	PUNCT
cblr-7808	353	49	and	and	CCONJ
cblr-7808	353	50	the	the	DET
cblr-7808	353	51	case	case	NOUN
cblr-7808	353	52	for	for	ADP
cblr-7808	353	53	a	a	DET
cblr-7808	353	54	board	board	NOUN
cblr-7808	353	55	suite	suite	NOUN
cblr-7808	353	56	,	,	PUNCT
cblr-7808	353	57	2017	2017	NUM
cblr-7808	353	58	wis	wis	NOUN
cblr-7808	353	59	.	.	PUNCT
cblr-7808	354	1	l.	l.	PROPN
cblr-7808	354	2	rev	rev	PROPN
cblr-7808	354	3	.	.	PROPN
cblr-7808	354	4	19	19	NUM
cblr-7808	354	5	,	,	PUNCT
cblr-7808	354	6	27	27	NUM
cblr-7808	354	7	,	,	PUNCT
cblr-7808	354	8	29–30	29–30	NUM
cblr-7808	354	9	.	.	PUNCT
cblr-7808	355	1	104	104	NUM
cblr-7808	356	1	i	i	PRON
cblr-7808	356	2	d.	d.	PROPN
cblr-7808	356	3	at	at	ADP
cblr-7808	356	4	23	23	NUM
cblr-7808	356	5	.	.	PUNCT
cblr-7808	357	1	105	105	NUM
cblr-7808	357	2	see	see	VERB
cblr-7808	357	3	i	i	PRON
cblr-7808	357	4	d.	d.	PROPN
cblr-7808	357	5	at	at	ADP
cblr-7808	357	6	28–29	28–29	NUM
cblr-7808	357	7	.	.	PUNCT
cblr-7808	358	1	106	106	NUM
cblr-7808	358	2	see	see	VERB
cblr-7808	358	3	lucian	lucian	PROPN
cblr-7808	358	4	arye	arye	PROPN
cblr-7808	358	5	bebchuk	bebchuk	PROPN
cblr-7808	358	6	&	&	CCONJ
cblr-7808	358	7	jesse	jesse	PROPN
cblr-7808	358	8	m.	m.	PROPN
cblr-7808	358	9	fried	fried	PROPN
cblr-7808	358	10	,	,	PUNCT
cblr-7808	358	11	executive	executive	NOUN
cblr-7808	358	12	compensation	compensation	NOUN
cblr-7808	358	13	as	as	ADP
cblr-7808	358	14	an	an	DET
cblr-7808	358	15	agency	agency	NOUN
cblr-7808	358	16	problem	problem	NOUN
cblr-7808	358	17	,	,	PUNCT
cblr-7808	358	18	17	17	NUM
cblr-7808	358	19	j.	j.	PROPN
cblr-7808	358	20	econ	econ	PROPN
cblr-7808	358	21	.	.	PUNCT
cblr-7808	359	1	persps	persps	PROPN
cblr-7808	359	2	.	.	PUNCT
cblr-7808	360	1	71	71	NUM
cblr-7808	360	2	,	,	PUNCT
cblr-7808	360	3	73–74	73–74	NUM
cblr-7808	360	4	,	,	PUNCT
cblr-7808	360	5	77	77	NUM
cblr-7808	360	6	(	(	PUNCT
cblr-7808	360	7	2003	2003	NUM
cblr-7808	360	8	)	)	PUNCT
cblr-7808	360	9	(	(	PUNCT
cblr-7808	360	10	addressing	address	VERB
cblr-7808	360	11	the	the	DET
cblr-7808	360	12	influence	influence	NOUN
cblr-7808	360	13	of	of	ADP
cblr-7808	360	14	management	management	NOUN
cblr-7808	360	15	on	on	ADP
cblr-7808	360	16	directors	director	NOUN
cblr-7808	360	17	)	)	PUNCT
cblr-7808	360	18	;	;	PUNCT
cblr-7808	360	19	lucian	lucian	PROPN
cblr-7808	360	20	a.	a.	PROPN
cblr-7808	360	21	bebchuk	bebchuk	PROPN
cblr-7808	360	22	&	&	CCONJ
cblr-7808	360	23	assaf	assaf	PROPN
cblr-7808	360	24	hamdani	hamdani	PROPN
cblr-7808	360	25	,	,	PUNCT
cblr-7808	360	26	independent	independent	ADJ
cblr-7808	360	27	directors	director	NOUN
cblr-7808	360	28	and	and	CCONJ
cblr-7808	360	29	controlling	control	VERB
cblr-7808	360	30	shareholders	shareholder	NOUN
cblr-7808	360	31	,	,	PUNCT
cblr-7808	360	32	165	165	NUM
cblr-7808	360	33	u.	u.	NOUN
cblr-7808	360	34	pa	pa	PROPN
cblr-7808	360	35	.	.	PUNCT
cblr-7808	360	36	l.	l.	PROPN
cblr-7808	360	37	rev	rev	PROPN
cblr-7808	360	38	.	.	PROPN
cblr-7808	360	39	1271	1271	NUM
cblr-7808	360	40	,	,	PUNCT
cblr-7808	360	41	1285–86	1285–86	NUM
cblr-7808	360	42	(	(	PUNCT
cblr-7808	360	43	2017	2017	NUM
cblr-7808	360	44	)	)	PUNCT
cblr-7808	360	45	(	(	PUNCT
cblr-7808	360	46	discussing	discuss	VERB
cblr-7808	360	47	limits	limit	NOUN
cblr-7808	360	48	on	on	ADP
cblr-7808	360	49	the	the	DET
cblr-7808	360	50	ability	ability	NOUN
cblr-7808	360	51	of	of	ADP
cblr-7808	360	52	independent	independent	ADJ
cblr-7808	360	53	directors	director	NOUN
cblr-7808	360	54	to	to	PART
cblr-7808	360	55	perform	perform	VERB
cblr-7808	360	56	their	their	PRON
cblr-7808	360	57	oversight	oversight	NOUN
cblr-7808	360	58	roles	role	NOUN
cblr-7808	360	59	effectively	effectively	ADV
cblr-7808	360	60	)	)	PUNCT
cblr-7808	360	61	;	;	PUNCT
cblr-7808	360	62	anil	anil	PROPN
cblr-7808	360	63	shivdasani	shivdasani	PROPN
cblr-7808	360	64	&	&	CCONJ
cblr-7808	360	65	david	david	PROPN
cblr-7808	360	66	yermack	yermack	PROPN
cblr-7808	360	67	,	,	PUNCT
cblr-7808	360	68	ceo	ceo	NOUN
cblr-7808	360	69	involvement	involvement	NOUN
cblr-7808	360	70	in	in	ADP
cblr-7808	360	71	the	the	DET
cblr-7808	360	72	selection	selection	NOUN
cblr-7808	360	73	of	of	ADP
cblr-7808	360	74	new	new	ADJ
cblr-7808	360	75	board	board	NOUN
cblr-7808	360	76	members	member	NOUN
cblr-7808	360	77	:	:	PUNCT
cblr-7808	360	78	an	an	DET
cblr-7808	360	79	empirical	empirical	ADJ
cblr-7808	360	80	analysis	analysis	NOUN
cblr-7808	360	81	,	,	PUNCT
cblr-7808	360	82	54	54	NUM
cblr-7808	360	83	j.	j.	PROPN
cblr-7808	360	84	fin	fin	PROPN
cblr-7808	360	85	.	.	PUNCT
cblr-7808	360	86	1829	1829	NUM
cblr-7808	360	87	,	,	PUNCT
cblr-7808	360	88	1851	1851	NUM
cblr-7808	360	89	(	(	PUNCT
cblr-7808	360	90	1999	1999	NUM
cblr-7808	360	91	)	)	PUNCT
cblr-7808	360	92	(	(	PUNCT
cblr-7808	360	93	providing	provide	VERB
cblr-7808	360	94	evidence	evidence	NOUN
cblr-7808	360	95	on	on	ADP
cblr-7808	360	96	the	the	DET
cblr-7808	360	97	involvement	involvement	NOUN
cblr-7808	360	98	of	of	ADP
cblr-7808	360	99	ceos	ceos	NOUN
cblr-7808	360	100	in	in	ADP
cblr-7808	360	101	the	the	DET
cblr-7808	360	102	nomination	nomination	NOUN
cblr-7808	360	103	of	of	ADP
cblr-7808	360	104	directors	director	NOUN
cblr-7808	360	105	)	)	PUNCT
cblr-7808	360	106	.	.	PUNCT
cblr-7808	361	1	107	107	NUM
cblr-7808	361	2	see	see	VERB
cblr-7808	361	3	barzuza	barzuza	NOUN
cblr-7808	361	4	&	&	CCONJ
cblr-7808	361	5	talley	talley	PROPN
cblr-7808	361	6	,	,	PUNCT
cblr-7808	361	7	supra	supra	PROPN
cblr-7808	361	8	note	note	PROPN
cblr-7808	361	9	6	6	NUM
cblr-7808	361	10	,	,	PUNCT
cblr-7808	361	11	at	at	ADP
cblr-7808	361	12	180	180	NUM
cblr-7808	361	13	.	.	PUNCT
cblr-7808	362	1	kastiel	kastiel	PROPN
cblr-7808	362	2	(	(	PUNCT
cblr-7808	362	3	comment	comment	NOUN
cblr-7808	362	4	)	)	PUNCT
cblr-7808	362	5	1/15/2021	1/15/2021	NUM
cblr-7808	362	6	2:38	2:38	NUM
cblr-7808	362	7	pm	pm	NOUN
cblr-7808	362	8	858	858	NUM
cblr-7808	362	9	columbia	columbia	PROPN
cblr-7808	362	10	business	business	NOUN
cblr-7808	362	11	law	law	PROPN
cblr-7808	362	12	review	review	NOUN
cblr-7808	363	1	[	[	X
cblr-7808	363	2	vol	vol	NOUN
cblr-7808	363	3	.	.	PUNCT
cblr-7808	363	4	2020	2020	NUM
cblr-7808	363	5	expansion	expansion	NOUN
cblr-7808	363	6	would	would	AUX
cblr-7808	363	7	increase	increase	VERB
cblr-7808	363	8	their	their	PRON
cblr-7808	363	9	private	private	ADJ
cblr-7808	363	10	benefits.108	benefits.108	NOUN
cblr-7808	363	11	this	this	DET
cblr-7808	363	12	expansion	expansion	NOUN
cblr-7808	363	13	comes	come	VERB
cblr-7808	363	14	at	at	ADP
cblr-7808	363	15	the	the	DET
cblr-7808	363	16	expense	expense	NOUN
cblr-7808	363	17	of	of	ADP
cblr-7808	363	18	taking	take	VERB
cblr-7808	363	19	actions	action	NOUN
cblr-7808	363	20	that	that	PRON
cblr-7808	363	21	may	may	AUX
cblr-7808	363	22	be	be	AUX
cblr-7808	363	23	in	in	ADP
cblr-7808	363	24	the	the	DET
cblr-7808	363	25	interests	interest	NOUN
cblr-7808	363	26	of	of	ADP
cblr-7808	363	27	the	the	DET
cblr-7808	363	28	company	company	NOUN
cblr-7808	363	29	’s	’s	PART
cblr-7808	363	30	shareholders	shareholder	NOUN
cblr-7808	363	31	,	,	PUNCT
cblr-7808	363	32	such	such	ADJ
cblr-7808	363	33	as	as	ADP
cblr-7808	363	34	distributing	distribute	VERB
cblr-7808	363	35	dividends.109	dividends.109	VERB
cblr-7808	363	36	empire	empire	NOUN
cblr-7808	363	37	building	building	NOUN
cblr-7808	363	38	can	can	AUX
cblr-7808	363	39	benefit	benefit	VERB
cblr-7808	363	40	managers	manager	NOUN
cblr-7808	363	41	in	in	ADP
cblr-7808	363	42	two	two	NUM
cblr-7808	363	43	major	major	ADJ
cblr-7808	363	44	ways	way	NOUN
cblr-7808	363	45	.	.	PUNCT
cblr-7808	364	1	first	first	ADV
cblr-7808	364	2	,	,	PUNCT
cblr-7808	364	3	the	the	DET
cblr-7808	364	4	increase	increase	NOUN
cblr-7808	364	5	of	of	ADP
cblr-7808	364	6	resources	resource	NOUN
cblr-7808	364	7	under	under	ADP
cblr-7808	364	8	a	a	DET
cblr-7808	364	9	manager	manager	NOUN
cblr-7808	364	10	’s	’s	PART
cblr-7808	364	11	control	control	NOUN
cblr-7808	364	12	is	be	AUX
cblr-7808	364	13	likely	likely	ADJ
cblr-7808	364	14	to	to	PART
cblr-7808	364	15	provide	provide	VERB
cblr-7808	364	16	them	they	PRON
cblr-7808	364	17	with	with	ADP
cblr-7808	364	18	pecuniary	pecuniary	ADJ
cblr-7808	364	19	benefits	benefit	NOUN
cblr-7808	364	20	,	,	PUNCT
cblr-7808	364	21	such	such	ADJ
cblr-7808	364	22	as	as	ADP
cblr-7808	364	23	higher	high	ADJ
cblr-7808	364	24	compensation110	compensation110	PROPN
cblr-7808	364	25	or	or	CCONJ
cblr-7808	364	26	an	an	DET
cblr-7808	364	27	increase	increase	NOUN
cblr-7808	364	28	in	in	ADP
cblr-7808	364	29	their	their	PRON
cblr-7808	364	30	labor	labor	NOUN
cblr-7808	364	31	market	market	NOUN
cblr-7808	364	32	value.111	value.111	PROPN
cblr-7808	364	33	second	second	ADV
cblr-7808	364	34	,	,	PUNCT
cblr-7808	364	35	managers	manager	NOUN
cblr-7808	364	36	may	may	AUX
cblr-7808	364	37	derive	derive	VERB
cblr-7808	364	38	nonpecuniary	nonpecuniary	ADJ
cblr-7808	364	39	or	or	CCONJ
cblr-7808	364	40	psychic	psychic	ADJ
cblr-7808	364	41	benefits	benefit	NOUN
cblr-7808	364	42	as	as	ADP
cblr-7808	364	43	a	a	DET
cblr-7808	364	44	result	result	NOUN
cblr-7808	364	45	of	of	ADP
cblr-7808	364	46	empire	empire	NOUN
cblr-7808	364	47	building	building	NOUN
cblr-7808	364	48	,	,	PUNCT
cblr-7808	364	49	such	such	ADJ
cblr-7808	364	50	as	as	ADP
cblr-7808	364	51	appreciation	appreciation	NOUN
cblr-7808	364	52	,	,	PUNCT
cblr-7808	364	53	increased	increase	VERB
cblr-7808	364	54	media	medium	NOUN
cblr-7808	364	55	coverage	coverage	NOUN
cblr-7808	364	56	,	,	PUNCT
cblr-7808	364	57	or	or	CCONJ
cblr-7808	364	58	prestige.112	prestige.112	VERB
cblr-7808	364	59	a	a	DET
cblr-7808	364	60	related	related	ADJ
cblr-7808	364	61	form	form	NOUN
cblr-7808	364	62	of	of	ADP
cblr-7808	364	63	psychic	psychic	ADJ
cblr-7808	364	64	private	private	ADJ
cblr-7808	364	65	benefit	benefit	NOUN
cblr-7808	364	66	derives	derive	VERB
cblr-7808	364	67	from	from	ADP
cblr-7808	364	68	pet	pet	ADJ
cblr-7808	364	69	projects.113	projects.113	NOUN
cblr-7808	364	70	this	this	PRON
cblr-7808	364	71	refers	refer	VERB
cblr-7808	364	72	to	to	ADP
cblr-7808	364	73	a	a	DET
cblr-7808	364	74	value	value	NOUN
cblr-7808	364	75	-	-	PUNCT
cblr-7808	364	76	reducing	reduce	VERB
cblr-7808	364	77	business	business	NOUN
cblr-7808	364	78	strategy	strategy	NOUN
cblr-7808	364	79	that	that	PRON
cblr-7808	364	80	provides	provide	VERB
cblr-7808	364	81	a	a	DET
cblr-7808	364	82	corporate	corporate	ADJ
cblr-7808	364	83	leader	leader	NOUN
cblr-7808	364	84	with	with	ADP
cblr-7808	364	85	a	a	DET
cblr-7808	364	86	private	private	ADJ
cblr-7808	364	87	benefit	benefit	NOUN
cblr-7808	364	88	,	,	PUNCT
cblr-7808	364	89	either	either	CCONJ
cblr-7808	364	90	by	by	ADP
cblr-7808	364	91	enhancing	enhance	VERB
cblr-7808	364	92	their	their	PRON
cblr-7808	364	93	legacy	legacy	NOUN
cblr-7808	364	94	or	or	CCONJ
cblr-7808	364	95	reputation	reputation	NOUN
cblr-7808	364	96	or	or	CCONJ
cblr-7808	364	97	by	by	ADP
cblr-7808	364	98	moving	move	VERB
cblr-7808	364	99	the	the	DET
cblr-7808	364	100	world	world	NOUN
cblr-7808	364	101	in	in	ADP
cblr-7808	364	102	a	a	DET
cblr-7808	364	103	direction	direction	NOUN
cblr-7808	364	104	that	that	PRON
cblr-7808	364	105	they	they	PRON
cblr-7808	364	106	favor.114	favor.114	VERB
cblr-7808	364	107	108	108	NUM
cblr-7808	364	108	for	for	ADP
cblr-7808	364	109	well	well	ADV
cblr-7808	364	110	-	-	PUNCT
cblr-7808	364	111	known	know	VERB
cblr-7808	364	112	studies	study	NOUN
cblr-7808	364	113	that	that	PRON
cblr-7808	364	114	analyze	analyze	VERB
cblr-7808	364	115	empire	empire	NOUN
cblr-7808	364	116	building	building	NOUN
cblr-7808	364	117	and	and	CCONJ
cblr-7808	364	118	management	management	NOUN
cblr-7808	364	119	’s	’s	PART
cblr-7808	364	120	tendency	tendency	NOUN
cblr-7808	364	121	to	to	PART
cblr-7808	364	122	avoid	avoid	VERB
cblr-7808	364	123	distributing	distribute	VERB
cblr-7808	364	124	cash	cash	NOUN
cblr-7808	364	125	or	or	CCONJ
cblr-7808	364	126	assets	asset	NOUN
cblr-7808	364	127	to	to	ADP
cblr-7808	364	128	shareholders	shareholder	NOUN
cblr-7808	364	129	,	,	PUNCT
cblr-7808	364	130	see	see	VERB
cblr-7808	364	131	,	,	PUNCT
cblr-7808	364	132	e.g.	e.g.	ADV
cblr-7808	364	133	,	,	PUNCT
cblr-7808	364	134	lucian	lucian	PROPN
cblr-7808	364	135	arye	arye	PROPN
cblr-7808	364	136	bebchuk	bebchuk	PROPN
cblr-7808	364	137	,	,	PUNCT
cblr-7808	364	138	the	the	DET
cblr-7808	364	139	case	case	NOUN
cblr-7808	364	140	for	for	ADP
cblr-7808	364	141	increasing	increase	VERB
cblr-7808	364	142	shareholder	shareholder	NOUN
cblr-7808	364	143	power	power	NOUN
cblr-7808	364	144	,	,	PUNCT
cblr-7808	364	145	118	118	NUM
cblr-7808	364	146	harv	harv	NOUN
cblr-7808	364	147	.	.	PUNCT
cblr-7808	365	1	l.	l.	PROPN
cblr-7808	365	2	rev	rev	PROPN
cblr-7808	365	3	.	.	PROPN
cblr-7808	365	4	833	833	NUM
cblr-7808	365	5	,	,	PUNCT
cblr-7808	365	6	903–04	903–04	NUM
cblr-7808	365	7	(	(	PUNCT
cblr-7808	365	8	2005	2005	NUM
cblr-7808	365	9	)	)	PUNCT
cblr-7808	365	10	;	;	PUNCT
cblr-7808	365	11	sanford	sanford	PROPN
cblr-7808	365	12	j.	j.	PROPN
cblr-7808	365	13	grossman	grossman	PROPN
cblr-7808	365	14	&	&	CCONJ
cblr-7808	365	15	oliver	oliver	PROPN
cblr-7808	365	16	d.	d.	PROPN
cblr-7808	365	17	hart	hart	PROPN
cblr-7808	365	18	,	,	PUNCT
cblr-7808	365	19	corporate	corporate	ADJ
cblr-7808	365	20	financial	financial	ADJ
cblr-7808	365	21	structure	structure	NOUN
cblr-7808	365	22	and	and	CCONJ
cblr-7808	365	23	managerial	managerial	ADJ
cblr-7808	365	24	incentives	incentive	NOUN
cblr-7808	365	25	,	,	PUNCT
cblr-7808	365	26	in	in	ADP
cblr-7808	365	27	the	the	DET
cblr-7808	365	28	economics	economic	NOUN
cblr-7808	365	29	of	of	ADP
cblr-7808	365	30	information	information	NOUN
cblr-7808	365	31	and	and	CCONJ
cblr-7808	365	32	uncertainty	uncertainty	NOUN
cblr-7808	365	33	107	107	NUM
cblr-7808	365	34	,	,	PUNCT
cblr-7808	365	35	107	107	NUM
cblr-7808	365	36	(	(	PUNCT
cblr-7808	365	37	john	john	PROPN
cblr-7808	365	38	j.	j.	PROPN
cblr-7808	365	39	mccall	mccall	PROPN
cblr-7808	365	40	ed	ed	PROPN
cblr-7808	365	41	.	.	PROPN
cblr-7808	365	42	,	,	PUNCT
cblr-7808	365	43	1982	1982	NUM
cblr-7808	365	44	)	)	PUNCT
cblr-7808	365	45	;	;	PUNCT
cblr-7808	365	46	michael	michael	PROPN
cblr-7808	365	47	c.	c.	PROPN
cblr-7808	365	48	jensen	jensen	PROPN
cblr-7808	365	49	,	,	PUNCT
cblr-7808	365	50	agency	agency	NOUN
cblr-7808	365	51	costs	cost	NOUN
cblr-7808	365	52	of	of	ADP
cblr-7808	365	53	free	free	ADJ
cblr-7808	365	54	cash	cash	NOUN
cblr-7808	365	55	flow	flow	NOUN
cblr-7808	365	56	,	,	PUNCT
cblr-7808	365	57	corporate	corporate	ADJ
cblr-7808	365	58	finance	finance	NOUN
cblr-7808	365	59	,	,	PUNCT
cblr-7808	365	60	and	and	CCONJ
cblr-7808	365	61	takeovers	takeover	NOUN
cblr-7808	365	62	,	,	PUNCT
cblr-7808	365	63	76	76	NUM
cblr-7808	365	64	am	am	NOUN
cblr-7808	365	65	.	.	PUNCT
cblr-7808	366	1	econ	econ	PROPN
cblr-7808	366	2	.	.	PUNCT
cblr-7808	367	1	rev	rev	PROPN
cblr-7808	367	2	.	.	PROPN
cblr-7808	367	3	323	323	NUM
cblr-7808	367	4	,	,	PUNCT
cblr-7808	367	5	323–24	323–24	NUM
cblr-7808	367	6	(	(	PUNCT
cblr-7808	367	7	1986	1986	NUM
cblr-7808	367	8	)	)	PUNCT
cblr-7808	367	9	.	.	PUNCT
cblr-7808	368	1	109	109	NUM
cblr-7808	368	2	see	see	NOUN
cblr-7808	368	3	bebchuk	bebchuk	NOUN
cblr-7808	368	4	,	,	PUNCT
cblr-7808	368	5	supra	supra	PROPN
cblr-7808	368	6	note	note	PROPN
cblr-7808	368	7	108	108	NUM
cblr-7808	368	8	,	,	PUNCT
cblr-7808	368	9	at	at	ADP
cblr-7808	368	10	903–04	903–04	NOUN
cblr-7808	368	11	.	.	PUNCT
cblr-7808	369	1	110	110	NUM
cblr-7808	369	2	see	see	VERB
cblr-7808	369	3	jensen	jensen	PROPN
cblr-7808	369	4	,	,	PUNCT
cblr-7808	369	5	supra	supra	PROPN
cblr-7808	369	6	note	note	PROPN
cblr-7808	369	7	108	108	NUM
cblr-7808	369	8	,	,	PUNCT
cblr-7808	369	9	at	at	ADP
cblr-7808	369	10	323	323	NUM
cblr-7808	369	11	.	.	SYM
cblr-7808	369	12	111	111	NUM
cblr-7808	369	13	see	see	VERB
cblr-7808	369	14	jeremy	jeremy	PROPN
cblr-7808	369	15	c.	c.	PROPN
cblr-7808	369	16	stein	stein	PROPN
cblr-7808	369	17	,	,	PUNCT
cblr-7808	369	18	agency	agency	NOUN
cblr-7808	369	19	,	,	PUNCT
cblr-7808	369	20	information	information	NOUN
cblr-7808	369	21	and	and	CCONJ
cblr-7808	369	22	corporate	corporate	ADJ
cblr-7808	369	23	investment	investment	NOUN
cblr-7808	369	24	,	,	PUNCT
cblr-7808	369	25	in	in	ADP
cblr-7808	369	26	1a	1a	PROPN
cblr-7808	369	27	handbook	handbook	NOUN
cblr-7808	369	28	of	of	ADP
cblr-7808	369	29	the	the	DET
cblr-7808	369	30	economics	economic	NOUN
cblr-7808	369	31	of	of	ADP
cblr-7808	369	32	finance	finance	NOUN
cblr-7808	369	33	111	111	NUM
cblr-7808	369	34	,	,	PUNCT
cblr-7808	369	35	122	122	NUM
cblr-7808	369	36	(	(	PUNCT
cblr-7808	369	37	george	george	PROPN
cblr-7808	369	38	m.	m.	PROPN
cblr-7808	369	39	constantinides	constantinide	VERB
cblr-7808	369	40	et	et	PROPN
cblr-7808	369	41	al	al	PROPN
cblr-7808	369	42	.	.	PUNCT
cblr-7808	370	1	eds	eds	PROPN
cblr-7808	370	2	.	.	PROPN
cblr-7808	370	3	,	,	PUNCT
cblr-7808	370	4	2003	2003	NUM
cblr-7808	370	5	)	)	PUNCT
cblr-7808	370	6	.	.	PUNCT
cblr-7808	371	1	112	112	NUM
cblr-7808	371	2	see	see	VERB
cblr-7808	371	3	colin	colin	PROPN
cblr-7808	371	4	f.	f.	PROPN
cblr-7808	371	5	camerer	camerer	PROPN
cblr-7808	371	6	&	&	CCONJ
cblr-7808	371	7	ulrike	ulrike	PROPN
cblr-7808	371	8	malmendier	malmendier	NOUN
cblr-7808	371	9	,	,	PUNCT
cblr-7808	371	10	behavioral	behavioral	ADJ
cblr-7808	371	11	economics	economic	NOUN
cblr-7808	371	12	of	of	ADP
cblr-7808	371	13	organizations	organization	NOUN
cblr-7808	371	14	,	,	PUNCT
cblr-7808	371	15	in	in	ADP
cblr-7808	371	16	behavioral	behavioral	ADJ
cblr-7808	371	17	economics	economic	NOUN
cblr-7808	371	18	and	and	CCONJ
cblr-7808	371	19	its	its	PRON
cblr-7808	371	20	applications	application	NOUN
cblr-7808	371	21	235	235	NUM
cblr-7808	371	22	,	,	PUNCT
cblr-7808	371	23	242–243	242–243	NUM
cblr-7808	371	24	(	(	PUNCT
cblr-7808	371	25	peter	peter	PROPN
cblr-7808	371	26	diamond	diamond	PROPN
cblr-7808	371	27	&	&	CCONJ
cblr-7808	371	28	hannu	hannu	PROPN
cblr-7808	371	29	vartiainen	vartiainen	PROPN
cblr-7808	371	30	eds	eds	PROPN
cblr-7808	371	31	.	.	PROPN
cblr-7808	371	32	,	,	PUNCT
cblr-7808	371	33	2007	2007	NUM
cblr-7808	371	34	)	)	PUNCT
cblr-7808	371	35	.	.	PUNCT
cblr-7808	372	1	113	113	NUM
cblr-7808	372	2	cf	cf	NOUN
cblr-7808	372	3	.	.	PUNCT
cblr-7808	373	1	jensen	jensen	PROPN
cblr-7808	373	2	,	,	PUNCT
cblr-7808	373	3	supra	supra	PROPN
cblr-7808	373	4	note	note	PROPN
cblr-7808	373	5	108	108	NUM
cblr-7808	373	6	,	,	PUNCT
cblr-7808	373	7	at	at	ADP
cblr-7808	373	8	323	323	NUM
cblr-7808	373	9	,	,	PUNCT
cblr-7808	373	10	327	327	NUM
cblr-7808	373	11	(	(	PUNCT
cblr-7808	373	12	describing	describe	VERB
cblr-7808	373	13	managers	manager	NOUN
cblr-7808	373	14	’	’	PART
cblr-7808	373	15	tendencies	tendency	NOUN
cblr-7808	373	16	to	to	PART
cblr-7808	373	17	make	make	VERB
cblr-7808	373	18	suboptimal	suboptimal	ADJ
cblr-7808	373	19	investments	investment	NOUN
cblr-7808	373	20	and	and	CCONJ
cblr-7808	373	21	giving	give	VERB
cblr-7808	373	22	an	an	DET
cblr-7808	373	23	example	example	NOUN
cblr-7808	373	24	)	)	PUNCT
cblr-7808	373	25	.	.	PUNCT
cblr-7808	374	1	114	114	NUM
cblr-7808	374	2	see	see	VERB
cblr-7808	374	3	ronald	ronald	PROPN
cblr-7808	374	4	j.	j.	PROPN
cblr-7808	374	5	gilson	gilson	PROPN
cblr-7808	374	6	,	,	PUNCT
cblr-7808	374	7	controlling	control	VERB
cblr-7808	374	8	shareholders	shareholder	NOUN
cblr-7808	374	9	and	and	CCONJ
cblr-7808	374	10	corporate	corporate	ADJ
cblr-7808	374	11	governance	governance	NOUN
cblr-7808	374	12	:	:	PUNCT
cblr-7808	374	13	complicating	complicate	VERB
cblr-7808	374	14	the	the	DET
cblr-7808	374	15	comparative	comparative	ADJ
cblr-7808	374	16	taxonomy	taxonomy	NOUN
cblr-7808	374	17	,	,	PUNCT
cblr-7808	374	18	119	119	NUM
cblr-7808	374	19	harv	harv	NOUN
cblr-7808	374	20	.	.	PUNCT
cblr-7808	375	1	l.	l.	PROPN
cblr-7808	375	2	rev	rev	PROPN
cblr-7808	375	3	.	.	PROPN
cblr-7808	375	4	1641	1641	NUM
cblr-7808	375	5	,	,	PUNCT
cblr-7808	375	6	1666–68	1666–68	NUM
cblr-7808	375	7	(	(	PUNCT
cblr-7808	375	8	2006	2006	NUM
cblr-7808	375	9	)	)	PUNCT
cblr-7808	375	10	(	(	PUNCT
cblr-7808	375	11	observing	observe	VERB
cblr-7808	375	12	that	that	SCONJ
cblr-7808	375	13	a	a	DET
cblr-7808	375	14	controlling	control	VERB
cblr-7808	375	15	shareholder	shareholder	NOUN
cblr-7808	375	16	’s	’s	PART
cblr-7808	375	17	decision	decision	NOUN
cblr-7808	375	18	to	to	PART
cblr-7808	375	19	acquire	acquire	VERB
cblr-7808	375	20	a	a	DET
cblr-7808	375	21	media	medium	NOUN
cblr-7808	375	22	or	or	CCONJ
cblr-7808	375	23	entertainment	entertainment	NOUN
cblr-7808	375	24	company	company	NOUN
cblr-7808	375	25	may	may	AUX
cblr-7808	375	26	be	be	AUX
cblr-7808	375	27	motivated	motivate	VERB
cblr-7808	375	28	by	by	ADP
cblr-7808	375	29	the	the	DET
cblr-7808	375	30	desire	desire	NOUN
cblr-7808	375	31	to	to	PART
cblr-7808	375	32	increase	increase	VERB
cblr-7808	375	33	their	their	PRON
cblr-7808	375	34	consumption	consumption	NOUN
cblr-7808	375	35	of	of	ADP
cblr-7808	375	36	nonpecuniary	nonpecuniary	ADJ
cblr-7808	375	37	private	private	ADJ
cblr-7808	375	38	benefits	benefit	NOUN
cblr-7808	375	39	rather	rather	ADV
cblr-7808	375	40	than	than	ADP
cblr-7808	375	41	to	to	PART
cblr-7808	375	42	maximize	maximize	VERB
cblr-7808	375	43	company	company	NOUN
cblr-7808	375	44	value	value	NOUN
cblr-7808	375	45	)	)	PUNCT
cblr-7808	375	46	.	.	PUNCT
cblr-7808	376	1	kastiel	kastiel	PROPN
cblr-7808	376	2	(	(	PUNCT
cblr-7808	376	3	comment	comment	NOUN
cblr-7808	376	4	)	)	PUNCT
cblr-7808	376	5	1/15/2021	1/15/2021	NUM
cblr-7808	376	6	2:38	2:38	NUM
cblr-7808	376	7	pm	pm	NOUN
cblr-7808	376	8	no	no	INTJ
cblr-7808	376	9	.	.	PUNCT
cblr-7808	377	1	3:834	3:834	NUM
cblr-7808	377	2	]	]	X
cblr-7808	377	3	long	long	ADJ
cblr-7808	377	4	-	-	PUNCT
cblr-7808	377	5	term	term	NOUN
cblr-7808	377	6	bias	bias	NOUN
cblr-7808	377	7	,	,	PUNCT
cblr-7808	377	8	incentives	incentive	NOUN
cblr-7808	377	9	,	,	PUNCT
cblr-7808	377	10	and	and	CCONJ
cblr-7808	377	11	agency	agency	NOUN
cblr-7808	377	12	costs	cost	VERB
cblr-7808	377	13	859	859	NUM
cblr-7808	377	14	long	long	ADJ
cblr-7808	377	15	-	-	PUNCT
cblr-7808	377	16	term	term	NOUN
cblr-7808	377	17	bias	bias	NOUN
cblr-7808	377	18	resulting	result	VERB
cblr-7808	377	19	from	from	ADP
cblr-7808	377	20	overconfidence	overconfidence	NOUN
cblr-7808	377	21	is	be	AUX
cblr-7808	377	22	so	so	ADV
cblr-7808	377	23	closely	closely	ADV
cblr-7808	377	24	related	relate	VERB
cblr-7808	377	25	to	to	ADP
cblr-7808	377	26	the	the	DET
cblr-7808	377	27	agency	agency	NOUN
cblr-7808	377	28	problems	problem	NOUN
cblr-7808	377	29	of	of	ADP
cblr-7808	377	30	empire	empire	NOUN
cblr-7808	377	31	building	building	NOUN
cblr-7808	377	32	and	and	CCONJ
cblr-7808	377	33	pet	pet	ADJ
cblr-7808	377	34	projects	project	NOUN
cblr-7808	377	35	,	,	PUNCT
cblr-7808	377	36	that	that	SCONJ
cblr-7808	377	37	they	they	PRON
cblr-7808	377	38	are	be	AUX
cblr-7808	377	39	almost	almost	ADV
cblr-7808	377	40	indistinguishable	indistinguishable	ADJ
cblr-7808	377	41	ex	ex	X
cblr-7808	377	42	post	post	NOUN
cblr-7808	377	43	and	and	CCONJ
cblr-7808	377	44	could	could	AUX
cblr-7808	377	45	be	be	AUX
cblr-7808	377	46	viewed	view	VERB
cblr-7808	377	47	as	as	ADP
cblr-7808	377	48	part	part	NOUN
cblr-7808	377	49	of	of	ADP
cblr-7808	377	50	the	the	DET
cblr-7808	377	51	same	same	ADJ
cblr-7808	377	52	problem	problem	NOUN
cblr-7808	377	53	.	.	PUNCT
cblr-7808	378	1	both	both	PRON
cblr-7808	378	2	long	long	ADJ
cblr-7808	378	3	-	-	PUNCT
cblr-7808	378	4	term	term	NOUN
cblr-7808	378	5	bias	bias	NOUN
cblr-7808	378	6	and	and	CCONJ
cblr-7808	378	7	agency	agency	NOUN
cblr-7808	378	8	problems	problem	NOUN
cblr-7808	378	9	involve	involve	VERB
cblr-7808	378	10	corporate	corporate	ADJ
cblr-7808	378	11	leaders	leader	NOUN
cblr-7808	378	12	who	who	PRON
cblr-7808	378	13	choose	choose	VERB
cblr-7808	378	14	to	to	PART
cblr-7808	378	15	ignore	ignore	VERB
cblr-7808	378	16	shareholder	shareholder	NOUN
cblr-7808	378	17	interests	interest	NOUN
cblr-7808	378	18	or	or	CCONJ
cblr-7808	378	19	market	market	NOUN
cblr-7808	378	20	signals.115	signals.115	NOUN
cblr-7808	378	21	and	and	CCONJ
cblr-7808	378	22	in	in	ADP
cblr-7808	378	23	both	both	DET
cblr-7808	378	24	cases	case	NOUN
cblr-7808	378	25	,	,	PUNCT
cblr-7808	378	26	corporate	corporate	ADJ
cblr-7808	378	27	leaders	leader	NOUN
cblr-7808	378	28	waste	waste	VERB
cblr-7808	378	29	free	free	ADJ
cblr-7808	378	30	cash	cash	NOUN
cblr-7808	378	31	flow	flow	NOUN
cblr-7808	378	32	on	on	ADP
cblr-7808	378	33	inferior	inferior	ADJ
cblr-7808	378	34	business	business	NOUN
cblr-7808	378	35	acquisitions	acquisition	NOUN
cblr-7808	378	36	that	that	PRON
cblr-7808	378	37	provide	provide	VERB
cblr-7808	378	38	them	they	PRON
cblr-7808	378	39	with	with	ADP
cblr-7808	378	40	some	some	DET
cblr-7808	378	41	psychic	psychic	ADJ
cblr-7808	378	42	private	private	ADJ
cblr-7808	378	43	benefits.116	benefits.116	NOUN
cblr-7808	378	44	the	the	DET
cblr-7808	378	45	behavioral	behavioral	ADJ
cblr-7808	378	46	economics	economic	NOUN
cblr-7808	378	47	literature	literature	NOUN
cblr-7808	378	48	tries	try	VERB
cblr-7808	378	49	to	to	PART
cblr-7808	378	50	distinguish	distinguish	VERB
cblr-7808	378	51	between	between	ADP
cblr-7808	378	52	over	over	ADP
cblr-7808	378	53	-	-	PUNCT
cblr-7808	378	54	optimism	optimism	NOUN
cblr-7808	378	55	and	and	CCONJ
cblr-7808	378	56	traditional	traditional	ADJ
cblr-7808	378	57	agency	agency	NOUN
cblr-7808	378	58	theory	theory	NOUN
cblr-7808	378	59	by	by	ADP
cblr-7808	378	60	focusing	focus	VERB
cblr-7808	378	61	on	on	ADP
cblr-7808	378	62	the	the	DET
cblr-7808	378	63	intentional	intentional	ADJ
cblr-7808	378	64	behavior	behavior	NOUN
cblr-7808	378	65	of	of	ADP
cblr-7808	378	66	the	the	DET
cblr-7808	378	67	decisionmakers	decisionmaker	NOUN
cblr-7808	378	68	.	.	PUNCT
cblr-7808	379	1	unlike	unlike	ADP
cblr-7808	379	2	traditional	traditional	ADJ
cblr-7808	379	3	empire	empire	NOUN
cblr-7808	379	4	builders	builder	NOUN
cblr-7808	379	5	,	,	PUNCT
cblr-7808	379	6	who	who	PRON
cblr-7808	379	7	consciously	consciously	ADV
cblr-7808	379	8	disregard	disregard	NOUN
cblr-7808	379	9	shareholders	shareholder	NOUN
cblr-7808	379	10	’	'	PUNCT
cblr-7808	379	11	interests	interest	NOUN
cblr-7808	379	12	,	,	PUNCT
cblr-7808	379	13	overconfident	overconfident	ADJ
cblr-7808	379	14	ceos	ceo	NOUN
cblr-7808	379	15	believe	believe	VERB
cblr-7808	379	16	they	they	PRON
cblr-7808	379	17	are	be	AUX
cblr-7808	379	18	maximizing	maximize	VERB
cblr-7808	379	19	value	value	NOUN
cblr-7808	379	20	and	and	CCONJ
cblr-7808	379	21	acting	act	VERB
cblr-7808	379	22	in	in	ADP
cblr-7808	379	23	the	the	DET
cblr-7808	379	24	interest	interest	NOUN
cblr-7808	379	25	of	of	ADP
cblr-7808	379	26	shareholders.117	shareholders.117	NOUN
cblr-7808	379	27	but	but	CCONJ
cblr-7808	379	28	from	from	ADP
cblr-7808	379	29	the	the	DET
cblr-7808	379	30	perspective	perspective	NOUN
cblr-7808	379	31	of	of	ADP
cblr-7808	379	32	public	public	ADJ
cblr-7808	379	33	shareholders	shareholder	NOUN
cblr-7808	379	34	,	,	PUNCT
cblr-7808	379	35	should	should	AUX
cblr-7808	379	36	the	the	DET
cblr-7808	379	37	lack	lack	NOUN
cblr-7808	379	38	of	of	ADP
cblr-7808	379	39	intention	intention	NOUN
cblr-7808	379	40	make	make	VERB
cblr-7808	379	41	such	such	DET
cblr-7808	379	42	a	a	DET
cblr-7808	379	43	difference	difference	NOUN
cblr-7808	379	44	?	?	PUNCT
cblr-7808	380	1	are	be	AUX
cblr-7808	380	2	managers	manager	NOUN
cblr-7808	380	3	who	who	PRON
cblr-7808	380	4	systemically	systemically	ADV
cblr-7808	380	5	deviate	deviate	VERB
cblr-7808	380	6	from	from	ADP
cblr-7808	380	7	shareholder	shareholder	NOUN
cblr-7808	380	8	interests	interest	NOUN
cblr-7808	380	9	and	and	CCONJ
cblr-7808	380	10	who	who	PRON
cblr-7808	380	11	mistakenly	mistakenly	ADV
cblr-7808	380	12	pursue	pursue	VERB
cblr-7808	380	13	grandiose	grandiose	ADJ
cblr-7808	380	14	acquisitions	acquisition	NOUN
cblr-7808	380	15	due	due	ADP
cblr-7808	380	16	to	to	ADP
cblr-7808	380	17	overestimations	overestimation	NOUN
cblr-7808	380	18	of	of	ADP
cblr-7808	380	19	their	their	PRON
cblr-7808	380	20	likelihoods	likelihood	NOUN
cblr-7808	380	21	of	of	ADP
cblr-7808	380	22	success	success	NOUN
cblr-7808	380	23	really	really	ADV
cblr-7808	380	24	different	different	ADJ
cblr-7808	380	25	from	from	ADP
cblr-7808	380	26	those	those	PRON
cblr-7808	380	27	who	who	PRON
cblr-7808	380	28	intentionally	intentionally	ADV
cblr-7808	380	29	ignore	ignore	VERB
cblr-7808	380	30	shareholder	shareholder	NOUN
cblr-7808	380	31	interests	interest	NOUN
cblr-7808	380	32	by	by	ADP
cblr-7808	380	33	engaging	engage	VERB
cblr-7808	380	34	in	in	ADP
cblr-7808	380	35	empire	empire	NOUN
cblr-7808	380	36	building	build	VERB
cblr-7808	380	37	or	or	CCONJ
cblr-7808	380	38	pursuing	pursue	VERB
cblr-7808	380	39	pet	pet	ADJ
cblr-7808	380	40	projects	project	NOUN
cblr-7808	380	41	?	?	PUNCT
cblr-7808	381	1	ultimately	ultimately	ADV
cblr-7808	381	2	,	,	PUNCT
cblr-7808	381	3	both	both	DET
cblr-7808	381	4	types	type	NOUN
cblr-7808	381	5	of	of	ADP
cblr-7808	381	6	behaviors	behavior	NOUN
cblr-7808	381	7	systematically	systematically	ADV
cblr-7808	381	8	harm	harm	VERB
cblr-7808	381	9	shareholders	shareholder	NOUN
cblr-7808	381	10	,	,	PUNCT
cblr-7808	381	11	and	and	CCONJ
cblr-7808	381	12	in	in	ADP
cblr-7808	381	13	both	both	DET
cblr-7808	381	14	cases	case	NOUN
cblr-7808	381	15	,	,	PUNCT
cblr-7808	381	16	courts	court	NOUN
cblr-7808	381	17	are	be	AUX
cblr-7808	381	18	unlikely	unlikely	ADJ
cblr-7808	381	19	to	to	PART
cblr-7808	381	20	intervene	intervene	VERB
cblr-7808	381	21	in	in	ADP
cblr-7808	381	22	these	these	DET
cblr-7808	381	23	strategic	strategic	ADJ
cblr-7808	381	24	decisions	decision	NOUN
cblr-7808	381	25	because	because	SCONJ
cblr-7808	381	26	of	of	ADP
cblr-7808	381	27	the	the	DET
cblr-7808	381	28	deferential	deferential	ADJ
cblr-7808	381	29	business	business	NOUN
cblr-7808	381	30	judgment	judgment	NOUN
cblr-7808	381	31	rule.118	rule.118	VERB
cblr-7808	381	32	moreover	moreover	ADV
cblr-7808	381	33	,	,	PUNCT
cblr-7808	381	34	distinguishing	distinguish	VERB
cblr-7808	381	35	between	between	ADP
cblr-7808	381	36	overconfidence	overconfidence	NOUN
cblr-7808	381	37	and	and	CCONJ
cblr-7808	381	38	traditional	traditional	ADJ
cblr-7808	381	39	agency	agency	NOUN
cblr-7808	381	40	costs	cost	NOUN
cblr-7808	381	41	ex	ex	PRON
cblr-7808	381	42	post	post	NOUN
cblr-7808	381	43	could	could	AUX
cblr-7808	381	44	prove	prove	VERB
cblr-7808	381	45	complicated	complicated	ADJ
cblr-7808	381	46	if	if	SCONJ
cblr-7808	381	47	not	not	PART
cblr-7808	381	48	impossible.119	impossible.119	PRON
cblr-7808	381	49	consider	consider	VERB
cblr-7808	381	50	the	the	DET
cblr-7808	381	51	three	three	NUM
cblr-7808	381	52	case	case	NOUN
cblr-7808	381	53	studies	study	NOUN
cblr-7808	381	54	presented	present	VERB
cblr-7808	381	55	by	by	ADP
cblr-7808	381	56	115	115	NUM
cblr-7808	381	57	for	for	ADP
cblr-7808	381	58	a	a	DET
cblr-7808	381	59	discussion	discussion	NOUN
cblr-7808	381	60	of	of	ADP
cblr-7808	381	61	this	this	DET
cblr-7808	381	62	problem	problem	NOUN
cblr-7808	381	63	in	in	ADP
cblr-7808	381	64	the	the	DET
cblr-7808	381	65	context	context	NOUN
cblr-7808	381	66	of	of	ADP
cblr-7808	381	67	long	long	ADJ
cblr-7808	381	68	-	-	PUNCT
cblr-7808	381	69	termism	termism	NOUN
cblr-7808	381	70	,	,	PUNCT
cblr-7808	381	71	see	see	VERB
cblr-7808	381	72	supra	supra	PROPN
cblr-7808	381	73	section	section	PROPN
cblr-7808	381	74	ii.a	ii.a	PROPN
cblr-7808	381	75	.	.	PROPN
cblr-7808	382	1	116	116	NUM
cblr-7808	382	2	see	see	VERB
cblr-7808	382	3	supra	supra	PROPN
cblr-7808	382	4	notes	note	VERB
cblr-7808	382	5	108–12	108–12	PROPN
cblr-7808	382	6	and	and	CCONJ
cblr-7808	382	7	accompanying	accompany	VERB
cblr-7808	382	8	text	text	NOUN
cblr-7808	382	9	.	.	PUNCT
cblr-7808	383	1	117	117	NUM
cblr-7808	383	2	see	see	VERB
cblr-7808	383	3	barzuza	barzuza	NOUN
cblr-7808	383	4	&	&	CCONJ
cblr-7808	383	5	talley	talley	PROPN
cblr-7808	383	6	,	,	PUNCT
cblr-7808	383	7	supra	supra	PROPN
cblr-7808	383	8	note	note	PROPN
cblr-7808	383	9	6	6	NUM
cblr-7808	383	10	,	,	PUNCT
cblr-7808	383	11	at	at	ADP
cblr-7808	383	12	177	177	NUM
cblr-7808	383	13	.	.	PUNCT
cblr-7808	384	1	118	118	NUM
cblr-7808	384	2	see	see	VERB
cblr-7808	384	3	bainbridge	bainbridge	PROPN
cblr-7808	384	4	,	,	PUNCT
cblr-7808	384	5	supra	supra	PROPN
cblr-7808	384	6	note	note	PROPN
cblr-7808	384	7	21	21	NUM
cblr-7808	384	8	,	,	PUNCT
cblr-7808	384	9	at	at	ADP
cblr-7808	384	10	820	820	NUM
cblr-7808	384	11	.	.	PUNCT
cblr-7808	385	1	119	119	NUM
cblr-7808	385	2	some	some	DET
cblr-7808	385	3	studies	study	NOUN
cblr-7808	385	4	have	have	AUX
cblr-7808	385	5	used	use	VERB
cblr-7808	385	6	as	as	ADP
cblr-7808	385	7	measures	measure	NOUN
cblr-7808	385	8	for	for	ADP
cblr-7808	385	9	overconfidence	overconfidence	NOUN
cblr-7808	385	10	tallies	tally	NOUN
cblr-7808	385	11	of	of	ADP
cblr-7808	385	12	confidence	confidence	NOUN
cblr-7808	385	13	-	-	PUNCT
cblr-7808	385	14	related	relate	VERB
cblr-7808	385	15	mentions	mention	NOUN
cblr-7808	385	16	in	in	ADP
cblr-7808	385	17	the	the	DET
cblr-7808	385	18	press	press	NOUN
cblr-7808	385	19	,	,	PUNCT
cblr-7808	385	20	and	and	CCONJ
cblr-7808	385	21	the	the	DET
cblr-7808	385	22	ceo	ceo	NOUN
cblr-7808	385	23	’s	’s	PART
cblr-7808	385	24	inclination	inclination	NOUN
cblr-7808	385	25	to	to	PART
cblr-7808	385	26	keep	keep	VERB
cblr-7808	385	27	stock	stock	NOUN
cblr-7808	385	28	and	and	CCONJ
cblr-7808	385	29	options	option	NOUN
cblr-7808	385	30	long	long	ADV
cblr-7808	385	31	after	after	SCONJ
cblr-7808	385	32	they	they	PRON
cblr-7808	385	33	can	can	AUX
cblr-7808	385	34	sell	sell	VERB
cblr-7808	385	35	them	they	PRON
cblr-7808	385	36	.	.	PUNCT
cblr-7808	386	1	see	see	VERB
cblr-7808	386	2	,	,	PUNCT
cblr-7808	386	3	e.g.	e.g.	ADV
cblr-7808	386	4	,	,	PUNCT
cblr-7808	386	5	malmendier	malmendier	NOUN
cblr-7808	386	6	&	&	CCONJ
cblr-7808	386	7	tate	tate	PROPN
cblr-7808	386	8	,	,	PUNCT
cblr-7808	386	9	corporate	corporate	ADJ
cblr-7808	386	10	investment	investment	NOUN
cblr-7808	386	11	,	,	PUNCT
cblr-7808	386	12	supra	supra	PROPN
cblr-7808	386	13	note	note	NOUN
cblr-7808	386	14	10	10	NUM
cblr-7808	386	15	,	,	PUNCT
cblr-7808	386	16	at	at	ADP
cblr-7808	386	17	2668	2668	NUM
cblr-7808	386	18	,	,	PUNCT
cblr-7808	386	19	2671–73	2671–73	NUM
cblr-7808	386	20	(	(	PUNCT
cblr-7808	386	21	using	use	VERB
cblr-7808	386	22	optionskastiel	optionskastiel	ADJ
cblr-7808	386	23	(	(	PUNCT
cblr-7808	386	24	comment	comment	NOUN
cblr-7808	386	25	)	)	PUNCT
cblr-7808	386	26	1/15/2021	1/15/2021	NUM
cblr-7808	386	27	2:38	2:38	NUM
cblr-7808	386	28	pm	pm	NOUN
cblr-7808	386	29	860	860	NUM
cblr-7808	386	30	columbia	columbia	PROPN
cblr-7808	386	31	business	business	NOUN
cblr-7808	386	32	law	law	PROPN
cblr-7808	386	33	review	review	NOUN
cblr-7808	387	1	[	[	X
cblr-7808	387	2	vol	vol	NOUN
cblr-7808	387	3	.	.	PUNCT
cblr-7808	387	4	2020	2020	NUM
cblr-7808	387	5	barzuza	barzuza	NOUN
cblr-7808	387	6	and	and	CCONJ
cblr-7808	387	7	talley	talley	NOUN
cblr-7808	387	8	:	:	PUNCT
cblr-7808	387	9	marissa	marissa	PROPN
cblr-7808	387	10	mayer	mayer	PROPN
cblr-7808	387	11	’s	’s	PART
cblr-7808	387	12	plan	plan	NOUN
cblr-7808	387	13	to	to	PART
cblr-7808	387	14	make	make	VERB
cblr-7808	387	15	yahoo	yahoo	NOUN
cblr-7808	387	16	competitive	competitive	ADJ
cblr-7808	387	17	with	with	ADP
cblr-7808	387	18	google	google	PROPN
cblr-7808	387	19	and	and	CCONJ
cblr-7808	387	20	facebook	facebook	PROPN
cblr-7808	387	21	(	(	PUNCT
cblr-7808	387	22	instead	instead	ADV
cblr-7808	387	23	of	of	ADP
cblr-7808	387	24	distributing	distribute	VERB
cblr-7808	387	25	cash	cash	NOUN
cblr-7808	387	26	to	to	ADP
cblr-7808	387	27	shareholders	shareholder	NOUN
cblr-7808	387	28	)	)	PUNCT
cblr-7808	387	29	;	;	PUNCT
cblr-7808	387	30	tim	tim	PROPN
cblr-7808	387	31	armstrong	armstrong	PROPN
cblr-7808	387	32	’s	’s	PART
cblr-7808	387	33	efforts	effort	NOUN
cblr-7808	387	34	to	to	PART
cblr-7808	387	35	revive	revive	VERB
cblr-7808	387	36	aol	aol	NOUN
cblr-7808	387	37	with	with	ADP
cblr-7808	387	38	his	his	PRON
cblr-7808	387	39	own	own	ADJ
cblr-7808	387	40	long	long	ADJ
cblr-7808	387	41	-	-	PUNCT
cblr-7808	387	42	term	term	NOUN
cblr-7808	387	43	project	project	NOUN
cblr-7808	387	44	called	call	VERB
cblr-7808	387	45	patch	patch	NOUN
cblr-7808	387	46	;	;	PUNCT
cblr-7808	387	47	and	and	CCONJ
cblr-7808	387	48	dan	dan	PROPN
cblr-7808	387	49	ustian	ustian	PROPN
cblr-7808	387	50	’s	’s	PART
cblr-7808	387	51	plan	plan	NOUN
cblr-7808	387	52	,	,	PUNCT
cblr-7808	387	53	as	as	ADP
cblr-7808	387	54	ceo	ceo	NOUN
cblr-7808	387	55	of	of	ADP
cblr-7808	387	56	navistar	navistar	NOUN
cblr-7808	387	57	,	,	PUNCT
cblr-7808	387	58	to	to	PART
cblr-7808	387	59	use	use	VERB
cblr-7808	387	60	new	new	ADJ
cblr-7808	387	61	and	and	CCONJ
cblr-7808	387	62	unproven	unproven	ADJ
cblr-7808	387	63	technology	technology	NOUN
cblr-7808	387	64	to	to	PART
cblr-7808	387	65	comply	comply	VERB
cblr-7808	387	66	with	with	ADP
cblr-7808	387	67	new	new	ADJ
cblr-7808	387	68	environmental	environmental	ADJ
cblr-7808	387	69	standards.120	standards.120	NOUN
cblr-7808	387	70	while	while	SCONJ
cblr-7808	387	71	they	they	PRON
cblr-7808	387	72	can	can	AUX
cblr-7808	387	73	be	be	AUX
cblr-7808	387	74	viewed	view	VERB
cblr-7808	387	75	as	as	ADP
cblr-7808	387	76	examples	example	NOUN
cblr-7808	387	77	of	of	ADP
cblr-7808	387	78	long	long	ADJ
cblr-7808	387	79	-	-	PUNCT
cblr-7808	387	80	term	term	NOUN
cblr-7808	387	81	bias	bias	NOUN
cblr-7808	387	82	,	,	PUNCT
cblr-7808	387	83	an	an	DET
cblr-7808	387	84	equally	equally	ADV
cblr-7808	387	85	plausible	plausible	ADJ
cblr-7808	387	86	interpretation	interpretation	NOUN
cblr-7808	387	87	would	would	AUX
cblr-7808	387	88	view	view	VERB
cblr-7808	387	89	them	they	PRON
cblr-7808	387	90	as	as	ADP
cblr-7808	387	91	examples	example	NOUN
cblr-7808	387	92	of	of	ADP
cblr-7808	387	93	psychic	psychic	ADJ
cblr-7808	387	94	private	private	ADJ
cblr-7808	387	95	benefits	benefit	NOUN
cblr-7808	387	96	.	.	PUNCT
cblr-7808	388	1	for	for	ADP
cblr-7808	388	2	example	example	NOUN
cblr-7808	388	3	,	,	PUNCT
cblr-7808	388	4	while	while	SCONJ
cblr-7808	388	5	barzuza	barzuza	NOUN
cblr-7808	388	6	and	and	CCONJ
cblr-7808	388	7	talley	talley	PROPN
cblr-7808	388	8	view	view	PROPN
cblr-7808	388	9	aol	aol	PROPN
cblr-7808	388	10	’s	’s	PART
cblr-7808	388	11	investment	investment	NOUN
cblr-7808	388	12	in	in	ADP
cblr-7808	388	13	patch	patch	NOUN
cblr-7808	388	14	as	as	ADP
cblr-7808	388	15	an	an	DET
cblr-7808	388	16	example	example	NOUN
cblr-7808	388	17	of	of	ADP
cblr-7808	388	18	the	the	DET
cblr-7808	388	19	vulnerability	vulnerability	NOUN
cblr-7808	388	20	of	of	ADP
cblr-7808	388	21	long	long	ADJ
cblr-7808	388	22	-	-	PUNCT
cblr-7808	388	23	term	term	NOUN
cblr-7808	388	24	projects	project	NOUN
cblr-7808	388	25	to	to	PART
cblr-7808	388	26	overconfidence,121	overconfidence,121	VERB
cblr-7808	388	27	it	it	PRON
cblr-7808	388	28	could	could	AUX
cblr-7808	388	29	also	also	ADV
cblr-7808	388	30	be	be	AUX
cblr-7808	388	31	viewed	view	VERB
cblr-7808	388	32	as	as	ADP
cblr-7808	388	33	the	the	DET
cblr-7808	388	34	pet	pet	ADJ
cblr-7808	388	35	project	project	NOUN
cblr-7808	388	36	of	of	ADP
cblr-7808	388	37	the	the	DET
cblr-7808	388	38	company	company	NOUN
cblr-7808	388	39	’s	’s	PART
cblr-7808	388	40	then	then	ADV
cblr-7808	388	41	-	-	PUNCT
cblr-7808	388	42	ceo	ceo	NOUN
cblr-7808	388	43	and	and	CCONJ
cblr-7808	388	44	chairman	chairman	NOUN
cblr-7808	388	45	.	.	PUNCT
cblr-7808	389	1	as	as	SCONJ
cblr-7808	389	2	cnbc	cnbc	PROPN
cblr-7808	389	3	mentioned	mention	VERB
cblr-7808	389	4	,	,	PUNCT
cblr-7808	389	5	“	"	PUNCT
cblr-7808	389	6	[	[	X
cblr-7808	389	7	m]any	m]any	NOUN
cblr-7808	389	8	observers	observer	NOUN
cblr-7808	389	9	,	,	PUNCT
cblr-7808	389	10	including	include	VERB
cblr-7808	389	11	aol	aol	PROPN
cblr-7808	389	12	shareholders	shareholder	NOUN
cblr-7808	389	13	,	,	PUNCT
cblr-7808	389	14	felt	feel	VERB
cblr-7808	389	15	armstrong	armstrong	PROPN
cblr-7808	389	16	clung	clung	PROPN
cblr-7808	389	17	to	to	PART
cblr-7808	389	18	patch	patch	VERB
cblr-7808	389	19	with	with	ADP
cblr-7808	389	20	a	a	DET
cblr-7808	389	21	kind	kind	NOUN
cblr-7808	389	22	of	of	ADP
cblr-7808	389	23	blind	blind	ADJ
cblr-7808	389	24	paternal	paternal	ADJ
cblr-7808	389	25	love	love	NOUN
cblr-7808	389	26	.	.	PUNCT
cblr-7808	390	1	”122	”122	X
cblr-7808	390	2	commentators	commentator	NOUN
cblr-7808	390	3	also	also	ADV
cblr-7808	390	4	blamed	blame	VERB
cblr-7808	390	5	marissa	marissa	PROPN
cblr-7808	390	6	mayer	mayer	PROPN
cblr-7808	390	7	for	for	ADP
cblr-7808	390	8	having	have	VERB
cblr-7808	390	9	a	a	DET
cblr-7808	390	10	pet	pet	ADJ
cblr-7808	390	11	project	project	NOUN
cblr-7808	390	12	during	during	ADP
cblr-7808	390	13	her	her	PRON
cblr-7808	390	14	time	time	NOUN
cblr-7808	390	15	at	at	ADP
cblr-7808	390	16	yahoo	yahoo	PROPN
cblr-7808	390	17	.	.	PUNCT
cblr-7808	391	1	they	they	PRON
cblr-7808	391	2	observed	observe	VERB
cblr-7808	391	3	that	that	SCONJ
cblr-7808	391	4	“	"	PUNCT
cblr-7808	391	5	yahoo	yahoo	PROPN
cblr-7808	391	6	in	in	ADP
cblr-7808	391	7	february	february	PROPN
cblr-7808	391	8	folded	fold	VERB
cblr-7808	391	9	seven	seven	NUM
cblr-7808	391	10	digital	digital	ADJ
cblr-7808	391	11	magazines	magazine	NOUN
cblr-7808	391	12	,	,	PUNCT
cblr-7808	391	13	including	include	VERB
cblr-7808	391	14	titles	title	NOUN
cblr-7808	391	15	covering	cover	VERB
cblr-7808	391	16	food	food	NOUN
cblr-7808	391	17	and	and	CCONJ
cblr-7808	391	18	travel	travel	NOUN
cblr-7808	391	19	,	,	PUNCT
cblr-7808	391	20	which	which	PRON
cblr-7808	391	21	had	have	AUX
cblr-7808	391	22	been	be	AUX
cblr-7808	391	23	a	a	DET
cblr-7808	391	24	mayer	mayer	PROPN
cblr-7808	391	25	pet	pet	PROPN
cblr-7808	391	26	project	project	NOUN
cblr-7808	391	27	.	.	PUNCT
cblr-7808	392	1	she	she	PRON
cblr-7808	392	2	wanted	want	VERB
cblr-7808	392	3	to	to	PART
cblr-7808	392	4	launch	launch	VERB
cblr-7808	392	5	dozens	dozen	NOUN
cblr-7808	392	6	of	of	ADP
cblr-7808	392	7	vertically	vertically	ADV
cblr-7808	392	8	oriented	orient	VERB
cblr-7808	392	9	magazines	magazine	NOUN
cblr-7808	392	10	,	,	PUNCT
cblr-7808	392	11	dictating	dictate	VERB
cblr-7808	392	12	that	that	SCONJ
cblr-7808	392	13	they	they	PRON
cblr-7808	392	14	use	use	VERB
cblr-7808	392	15	tumblr	tumblr	ADJ
cblr-7808	392	16	-	-	PUNCT
cblr-7808	392	17	based	base	VERB
cblr-7808	392	18	designs	design	NOUN
cblr-7808	392	19	,	,	PUNCT
cblr-7808	392	20	hoping	hope	VERB
cblr-7808	392	21	to	to	PART
cblr-7808	392	22	better	well	ADV
cblr-7808	392	23	monetize	monetize	VERB
cblr-7808	392	24	yahoo	yahoo	PROPN
cblr-7808	392	25	’s	’s	PART
cblr-7808	392	26	monthly	monthly	ADJ
cblr-7808	392	27	audience	audience	NOUN
cblr-7808	392	28	.	.	PUNCT
cblr-7808	393	1	”123	”123	NOUN
cblr-7808	393	2	related	related	ADJ
cblr-7808	393	3	measures	measure	NOUN
cblr-7808	393	4	)	)	PUNCT
cblr-7808	393	5	;	;	PUNCT
cblr-7808	393	6	malmendier	malmendier	NOUN
cblr-7808	393	7	&	&	CCONJ
cblr-7808	393	8	tate	tate	PROPN
cblr-7808	393	9	,	,	PUNCT
cblr-7808	393	10	market	market	NOUN
cblr-7808	393	11	’s	’s	PART
cblr-7808	393	12	reaction	reaction	NOUN
cblr-7808	393	13	,	,	PUNCT
cblr-7808	393	14	supra	supra	PROPN
cblr-7808	393	15	note	note	NOUN
cblr-7808	393	16	12	12	NUM
cblr-7808	393	17	,	,	PUNCT
cblr-7808	393	18	at	at	ADP
cblr-7808	393	19	40	40	NUM
cblr-7808	393	20	(	(	PUNCT
cblr-7808	393	21	using	use	VERB
cblr-7808	393	22	a	a	DET
cblr-7808	393	23	media	medium	NOUN
cblr-7808	393	24	measure	measure	NOUN
cblr-7808	393	25	)	)	PUNCT
cblr-7808	393	26	.	.	PUNCT
cblr-7808	394	1	the	the	DET
cblr-7808	394	2	press	press	NOUN
cblr-7808	394	3	measure	measure	NOUN
cblr-7808	394	4	is	be	AUX
cblr-7808	394	5	subjective	subjective	ADJ
cblr-7808	394	6	.	.	PUNCT
cblr-7808	395	1	the	the	DET
cblr-7808	395	2	second	second	ADJ
cblr-7808	395	3	measure	measure	NOUN
cblr-7808	395	4	applies	apply	VERB
cblr-7808	395	5	only	only	ADV
cblr-7808	395	6	to	to	ADP
cblr-7808	395	7	a	a	DET
cblr-7808	395	8	minority	minority	NOUN
cblr-7808	395	9	of	of	ADP
cblr-7808	395	10	managers	manager	NOUN
cblr-7808	395	11	who	who	PRON
cblr-7808	395	12	decide	decide	VERB
cblr-7808	395	13	to	to	PART
cblr-7808	395	14	keep	keep	VERB
cblr-7808	395	15	stock	stock	NOUN
cblr-7808	395	16	and	and	CCONJ
cblr-7808	395	17	options	option	NOUN
cblr-7808	395	18	long	long	ADV
cblr-7808	395	19	after	after	SCONJ
cblr-7808	395	20	they	they	PRON
cblr-7808	395	21	can	can	AUX
cblr-7808	395	22	sell	sell	VERB
cblr-7808	395	23	them	they	PRON
cblr-7808	395	24	.	.	PUNCT
cblr-7808	396	1	see	see	VERB
cblr-7808	396	2	supra	supra	PROPN
cblr-7808	396	3	note	note	PROPN
cblr-7808	396	4	12	12	NUM
cblr-7808	396	5	and	and	CCONJ
cblr-7808	396	6	accompanying	accompany	VERB
cblr-7808	396	7	text	text	NOUN
cblr-7808	396	8	.	.	PUNCT
cblr-7808	397	1	thus	thus	ADV
cblr-7808	397	2	,	,	PUNCT
cblr-7808	397	3	distinguishing	distinguish	VERB
cblr-7808	397	4	between	between	ADP
cblr-7808	397	5	overconfidence	overconfidence	NOUN
cblr-7808	397	6	and	and	CCONJ
cblr-7808	397	7	traditional	traditional	ADJ
cblr-7808	397	8	agency	agency	NOUN
cblr-7808	397	9	costs	cost	NOUN
cblr-7808	397	10	ex	ex	PRON
cblr-7808	397	11	post	post	NOUN
cblr-7808	397	12	remains	remain	VERB
cblr-7808	397	13	a	a	DET
cblr-7808	397	14	complicated	complicated	ADJ
cblr-7808	397	15	task	task	NOUN
cblr-7808	397	16	in	in	ADP
cblr-7808	397	17	most	most	ADJ
cblr-7808	397	18	cases	case	NOUN
cblr-7808	397	19	.	.	PUNCT
cblr-7808	398	1	120	120	NUM
cblr-7808	398	2	see	see	VERB
cblr-7808	398	3	barzuza	barzuza	NOUN
cblr-7808	398	4	&	&	CCONJ
cblr-7808	398	5	talley	talley	PROPN
cblr-7808	398	6	,	,	PUNCT
cblr-7808	398	7	supra	supra	PROPN
cblr-7808	398	8	note	note	NOUN
cblr-7808	398	9	6	6	NUM
cblr-7808	398	10	,	,	PUNCT
cblr-7808	398	11	at	at	ADP
cblr-7808	398	12	155–72	155–72	NUM
cblr-7808	398	13	.	.	PUNCT
cblr-7808	399	1	121	121	NUM
cblr-7808	399	2	see	see	VERB
cblr-7808	399	3	i	i	PRON
cblr-7808	399	4	d.	d.	PROPN
cblr-7808	399	5	at	at	ADP
cblr-7808	399	6	162–64	162–64	NUM
cblr-7808	399	7	.	.	PROPN
cblr-7808	399	8	122	122	NUM
cblr-7808	399	9	jeff	jeff	PROPN
cblr-7808	399	10	brown	brown	PROPN
cblr-7808	399	11	,	,	PUNCT
cblr-7808	399	12	latest	late	ADJ
cblr-7808	399	13	ceo	ceo	NOUN
cblr-7808	399	14	pet	pet	ADJ
cblr-7808	399	15	project	project	NOUN
cblr-7808	399	16	to	to	PART
cblr-7808	399	17	fail	fail	VERB
cblr-7808	399	18	:	:	PUNCT
cblr-7808	399	19	aol	aol	PROPN
cblr-7808	399	20	’s	’s	PART
cblr-7808	399	21	patch	patch	NOUN
cblr-7808	399	22	,	,	PUNCT
cblr-7808	399	23	cnbc	cnbc	PROPN
cblr-7808	399	24	(	(	PUNCT
cblr-7808	399	25	last	last	ADJ
cblr-7808	399	26	updated	update	VERB
cblr-7808	399	27	dec	dec	PROPN
cblr-7808	399	28	.	.	PROPN
cblr-7808	399	29	16	16	NUM
cblr-7808	399	30	,	,	PUNCT
cblr-7808	399	31	2013	2013	NUM
cblr-7808	399	32	,	,	PUNCT
cblr-7808	399	33	3:34	3:34	NUM
cblr-7808	399	34	pm	pm	NOUN
cblr-7808	399	35	)	)	PUNCT
cblr-7808	399	36	,	,	PUNCT
cblr-7808	399	37	https://www.cnbc.com/2013/12/16/latest-ceo-pet-project-to-fail-aolspatch.html	https://www.cnbc.com/2013/12/16/latest-ceo-pet-project-to-fail-aolspatch.html	PROPN
cblr-7808	399	38	[	[	X
cblr-7808	399	39	https://perma.cc/96ju-dm25	https://perma.cc/96ju-dm25	X
cblr-7808	399	40	]	]	PUNCT
cblr-7808	399	41	.	.	PUNCT
cblr-7808	399	42	123	123	NUM
cblr-7808	399	43	todd	todd	PROPN
cblr-7808	399	44	spangler	spangler	NOUN
cblr-7808	399	45	,	,	PUNCT
cblr-7808	399	46	yahoo	yahoo	PROPN
cblr-7808	399	47	’s	’s	PART
cblr-7808	399	48	false	false	ADJ
cblr-7808	399	49	prophet	prophet	NOUN
cblr-7808	399	50	:	:	PUNCT
cblr-7808	399	51	how	how	SCONJ
cblr-7808	399	52	marissa	marissa	PROPN
cblr-7808	399	53	mayer	mayer	PROPN
cblr-7808	399	54	failed	fail	VERB
cblr-7808	399	55	to	to	PART
cblr-7808	399	56	turn	turn	VERB
cblr-7808	399	57	the	the	DET
cblr-7808	399	58	company	company	NOUN
cblr-7808	399	59	around	around	ADV
cblr-7808	399	60	,	,	PUNCT
cblr-7808	399	61	yahoo	yahoo	PROPN
cblr-7808	399	62	(	(	PUNCT
cblr-7808	399	63	may	may	PROPN
cblr-7808	399	64	24	24	NUM
cblr-7808	399	65	,	,	PUNCT
cblr-7808	399	66	2016	2016	NUM
cblr-7808	399	67	)	)	PUNCT
cblr-7808	399	68	,	,	PUNCT
cblr-7808	399	69	https://www.yahoo.com/entertainment/yahoo-false-prophet-marissamayer-failed-turn-company-160630052.html	https://www.yahoo.com/entertainment/yahoo-false-prophet-marissamayer-failed-turn-company-160630052.html	PROPN
cblr-7808	400	1	[	[	X
cblr-7808	400	2	https://perma.cc/x76cswgb	https://perma.cc/x76cswgb	X
cblr-7808	400	3	]	]	X
cblr-7808	400	4	.	.	PUNCT
cblr-7808	401	1	kastiel	kastiel	PROPN
cblr-7808	401	2	(	(	PUNCT
cblr-7808	401	3	comment	comment	NOUN
cblr-7808	401	4	)	)	PUNCT
cblr-7808	401	5	1/15/2021	1/15/2021	NUM
cblr-7808	401	6	2:38	2:38	NUM
cblr-7808	401	7	pm	pm	NOUN
cblr-7808	401	8	no	no	INTJ
cblr-7808	401	9	.	.	PUNCT
cblr-7808	402	1	3:834	3:834	NUM
cblr-7808	402	2	]	]	X
cblr-7808	402	3	long	long	ADJ
cblr-7808	402	4	-	-	PUNCT
cblr-7808	402	5	term	term	NOUN
cblr-7808	402	6	bias	bias	NOUN
cblr-7808	402	7	,	,	PUNCT
cblr-7808	402	8	incentives	incentive	NOUN
cblr-7808	402	9	,	,	PUNCT
cblr-7808	402	10	and	and	CCONJ
cblr-7808	402	11	agency	agency	NOUN
cblr-7808	402	12	costs	cost	VERB
cblr-7808	402	13	861	861	NUM
cblr-7808	402	14	similarly	similarly	ADV
cblr-7808	402	15	,	,	PUNCT
cblr-7808	402	16	one	one	NUM
cblr-7808	402	17	of	of	ADP
cblr-7808	402	18	the	the	DET
cblr-7808	402	19	top	top	ADJ
cblr-7808	402	20	shareholders	shareholder	NOUN
cblr-7808	402	21	in	in	ADP
cblr-7808	402	22	navistar	navistar	NOUN
cblr-7808	402	23	“	"	PUNCT
cblr-7808	402	24	would	would	AUX
cblr-7808	402	25	often	often	ADV
cblr-7808	402	26	refer	refer	VERB
cblr-7808	402	27	to	to	ADP
cblr-7808	402	28	.	.	PUNCT
cblr-7808	402	29	.	.	PUNCT
cblr-7808	402	30	.	.	PUNCT
cblr-7808	403	1	ustian	ustian	PROPN
cblr-7808	403	2	as	as	ADP
cblr-7808	403	3	a	a	DET
cblr-7808	403	4	‘	'	PUNCT
cblr-7808	403	5	crazy	crazy	ADJ
cblr-7808	403	6	uncle	uncle	NOUN
cblr-7808	403	7	’	'	PUNCT
cblr-7808	403	8	working	work	VERB
cblr-7808	403	9	on	on	ADP
cblr-7808	403	10	a	a	DET
cblr-7808	403	11	failed	fail	VERB
cblr-7808	403	12	multibillion	multibillion	NOUN
cblr-7808	403	13	dollar	dollar	NOUN
cblr-7808	403	14	pet	pet	NOUN
cblr-7808	403	15	project	project	NOUN
cblr-7808	403	16	in	in	ADP
cblr-7808	403	17	his	his	PRON
cblr-7808	403	18	garage	garage	NOUN
cblr-7808	403	19	.	.	PUNCT
cblr-7808	403	20	”124	”124	PUNCT
cblr-7808	404	1	there	there	PRON
cblr-7808	404	2	is	be	VERB
cblr-7808	404	3	a	a	DET
cblr-7808	404	4	third	third	ADJ
cblr-7808	404	5	possible	possible	ADJ
cblr-7808	404	6	interpretation	interpretation	NOUN
cblr-7808	404	7	of	of	ADP
cblr-7808	404	8	these	these	DET
cblr-7808	404	9	examples	example	NOUN
cblr-7808	404	10	:	:	PUNCT
cblr-7808	404	11	that	that	SCONJ
cblr-7808	404	12	they	they	PRON
cblr-7808	404	13	all	all	PRON
cblr-7808	404	14	involve	involve	VERB
cblr-7808	404	15	managers	manager	NOUN
cblr-7808	404	16	who	who	PRON
cblr-7808	404	17	in	in	ADP
cblr-7808	404	18	the	the	DET
cblr-7808	404	19	course	course	NOUN
cblr-7808	404	20	of	of	ADP
cblr-7808	404	21	fulfilling	fulfil	VERB
cblr-7808	404	22	their	their	PRON
cblr-7808	404	23	unique	unique	ADJ
cblr-7808	404	24	visions125	visions125	PROPN
cblr-7808	404	25	chose	choose	VERB
cblr-7808	404	26	business	business	NOUN
cblr-7808	404	27	strategies	strategy	NOUN
cblr-7808	404	28	that	that	PRON
cblr-7808	404	29	failed	fail	VERB
cblr-7808	404	30	but	but	CCONJ
cblr-7808	404	31	could	could	AUX
cblr-7808	404	32	have	have	AUX
cblr-7808	404	33	had	have	VERB
cblr-7808	404	34	positive	positive	ADJ
cblr-7808	404	35	expected	expect	VERB
cblr-7808	404	36	value	value	NOUN
cblr-7808	404	37	ex	ex	X
cblr-7808	404	38	ante	ante	NOUN
cblr-7808	404	39	.	.	PUNCT
cblr-7808	405	1	here	here	ADV
cblr-7808	405	2	again	again	ADV
cblr-7808	405	3	,	,	PUNCT
cblr-7808	405	4	in	in	ADP
cblr-7808	405	5	theory	theory	NOUN
cblr-7808	405	6	it	it	PRON
cblr-7808	405	7	is	be	AUX
cblr-7808	405	8	possible	possible	ADJ
cblr-7808	405	9	to	to	PART
cblr-7808	405	10	distinguish	distinguish	VERB
cblr-7808	405	11	between	between	ADP
cblr-7808	405	12	long	long	ADJ
cblr-7808	405	13	-	-	PUNCT
cblr-7808	405	14	term	term	NOUN
cblr-7808	405	15	bias	bias	NOUN
cblr-7808	405	16	and	and	CCONJ
cblr-7808	405	17	bad	bad	ADJ
cblr-7808	405	18	strategic	strategic	ADJ
cblr-7808	405	19	decisions	decision	NOUN
cblr-7808	405	20	by	by	ADP
cblr-7808	405	21	focusing	focus	VERB
cblr-7808	405	22	on	on	ADP
cblr-7808	405	23	the	the	DET
cblr-7808	405	24	ex	ex	PROPN
cblr-7808	405	25	ante	ante	NOUN
cblr-7808	405	26	likelihood	likelihood	NOUN
cblr-7808	405	27	of	of	ADP
cblr-7808	405	28	success	success	NOUN
cblr-7808	405	29	.	.	PUNCT
cblr-7808	406	1	long	long	ADJ
cblr-7808	406	2	-	-	PUNCT
cblr-7808	406	3	term	term	NOUN
cblr-7808	406	4	bias	bias	NOUN
cblr-7808	406	5	,	,	PUNCT
cblr-7808	406	6	according	accord	VERB
cblr-7808	406	7	to	to	ADP
cblr-7808	406	8	barzuza	barzuza	NOUN
cblr-7808	406	9	and	and	CCONJ
cblr-7808	406	10	talley	talley	NOUN
cblr-7808	406	11	,	,	PUNCT
cblr-7808	406	12	has	have	VERB
cblr-7808	406	13	negative	negative	ADJ
cblr-7808	406	14	expected	expect	VERB
cblr-7808	406	15	value	value	NOUN
cblr-7808	406	16	.	.	PUNCT
cblr-7808	407	1	it	it	PRON
cblr-7808	407	2	would	would	AUX
cblr-7808	407	3	always	always	ADV
cblr-7808	407	4	produce	produce	VERB
cblr-7808	407	5	inferior	inferior	ADJ
cblr-7808	407	6	returns	return	NOUN
cblr-7808	407	7	—	—	PUNCT
cblr-7808	407	8	even	even	ADV
cblr-7808	407	9	when	when	SCONJ
cblr-7808	407	10	projects	project	NOUN
cblr-7808	407	11	go	go	VERB
cblr-7808	407	12	as	as	SCONJ
cblr-7808	407	13	planned	plan	VERB
cblr-7808	407	14	.	.	PUNCT
cblr-7808	408	1	in	in	ADP
cblr-7808	408	2	contrast	contrast	NOUN
cblr-7808	408	3	,	,	PUNCT
cblr-7808	408	4	ordinary	ordinary	ADJ
cblr-7808	408	5	business	business	NOUN
cblr-7808	408	6	failures	failure	NOUN
cblr-7808	408	7	may	may	AUX
cblr-7808	408	8	have	have	VERB
cblr-7808	408	9	positive	positive	ADJ
cblr-7808	408	10	expected	expect	VERB
cblr-7808	408	11	value	value	NOUN
cblr-7808	408	12	at	at	ADP
cblr-7808	408	13	the	the	DET
cblr-7808	408	14	outset	outset	NOUN
cblr-7808	408	15	.	.	PUNCT
cblr-7808	409	1	they	they	PRON
cblr-7808	409	2	can	can	AUX
cblr-7808	409	3	produce	produce	VERB
cblr-7808	409	4	superior	superior	ADJ
cblr-7808	409	5	returns	return	NOUN
cblr-7808	409	6	when	when	SCONJ
cblr-7808	409	7	they	they	PRON
cblr-7808	409	8	go	go	VERB
cblr-7808	409	9	as	as	ADV
cblr-7808	409	10	planned	plan	VERB
cblr-7808	409	11	but	but	CCONJ
cblr-7808	409	12	fail	fail	VERB
cblr-7808	409	13	as	as	ADP
cblr-7808	409	14	a	a	DET
cblr-7808	409	15	matter	matter	NOUN
cblr-7808	409	16	of	of	ADP
cblr-7808	409	17	chance	chance	NOUN
cblr-7808	409	18	.	.	PUNCT
cblr-7808	410	1	in	in	ADP
cblr-7808	410	2	retrospect	retrospect	ADJ
cblr-7808	410	3	,	,	PUNCT
cblr-7808	410	4	however	however	ADV
cblr-7808	410	5	,	,	PUNCT
cblr-7808	410	6	it	it	PRON
cblr-7808	410	7	could	could	AUX
cblr-7808	410	8	be	be	AUX
cblr-7808	410	9	almost	almost	ADV
cblr-7808	410	10	impossible	impossible	ADJ
cblr-7808	410	11	to	to	PART
cblr-7808	410	12	distinguish	distinguish	VERB
cblr-7808	410	13	between	between	ADP
cblr-7808	410	14	the	the	DET
cblr-7808	410	15	two	two	NUM
cblr-7808	410	16	alternatives	alternative	NOUN
cblr-7808	410	17	.	.	PUNCT
cblr-7808	411	1	moreover	moreover	ADV
cblr-7808	411	2	,	,	PUNCT
cblr-7808	411	3	our	our	PRON
cblr-7808	411	4	judgment	judgment	NOUN
cblr-7808	411	5	with	with	ADP
cblr-7808	411	6	respect	respect	NOUN
cblr-7808	411	7	to	to	ADP
cblr-7808	411	8	whether	whether	SCONJ
cblr-7808	411	9	a	a	DET
cblr-7808	411	10	longterm	longterm	ADJ
cblr-7808	411	11	bias	bias	NOUN
cblr-7808	411	12	existed	exist	VERB
cblr-7808	411	13	ex	ex	PRON
cblr-7808	411	14	ante	ante	NOUN
cblr-7808	411	15	suffers	suffer	VERB
cblr-7808	411	16	from	from	ADP
cblr-7808	411	17	a	a	DET
cblr-7808	411	18	hindsight	hindsight	ADJ
cblr-7808	411	19	bias	bias	NOUN
cblr-7808	411	20	.	.	PUNCT
cblr-7808	411	21	suppose	suppose	VERB
cblr-7808	411	22	that	that	SCONJ
cblr-7808	411	23	mayer	mayer	PROPN
cblr-7808	411	24	had	have	AUX
cblr-7808	411	25	been	be	AUX
cblr-7808	411	26	successful	successful	ADJ
cblr-7808	411	27	in	in	ADP
cblr-7808	411	28	the	the	DET
cblr-7808	411	29	strategy	strategy	NOUN
cblr-7808	411	30	she	she	PRON
cblr-7808	411	31	tried	try	VERB
cblr-7808	411	32	to	to	PART
cblr-7808	411	33	implement	implement	VERB
cblr-7808	411	34	.	.	PUNCT
cblr-7808	412	1	would	would	AUX
cblr-7808	412	2	one	one	PRON
cblr-7808	412	3	still	still	ADV
cblr-7808	412	4	view	view	VERB
cblr-7808	412	5	her	she	PRON
cblr-7808	412	6	as	as	ADP
cblr-7808	412	7	suffering	suffer	VERB
cblr-7808	412	8	from	from	ADP
cblr-7808	412	9	long	long	ADJ
cblr-7808	412	10	-	-	PUNCT
cblr-7808	412	11	term	term	NOUN
cblr-7808	412	12	bias	bias	NOUN
cblr-7808	412	13	?	?	PUNCT
cblr-7808	413	1	compare	compare	VERB
cblr-7808	413	2	the	the	DET
cblr-7808	413	3	example	example	NOUN
cblr-7808	413	4	of	of	ADP
cblr-7808	413	5	elon	elon	PROPN
cblr-7808	413	6	musk	musk	PROPN
cblr-7808	413	7	,	,	PUNCT
cblr-7808	413	8	the	the	DET
cblr-7808	413	9	founder	founder	NOUN
cblr-7808	413	10	of	of	ADP
cblr-7808	413	11	tesla	tesla	PROPN
cblr-7808	413	12	.	.	PUNCT
cblr-7808	414	1	musk	musk	PROPN
cblr-7808	414	2	,	,	PUNCT
cblr-7808	414	3	“	"	PUNCT
cblr-7808	414	4	whose	whose	DET
cblr-7808	414	5	confidence	confidence	NOUN
cblr-7808	414	6	manifests	manifest	VERB
cblr-7808	414	7	itself	itself	PRON
cblr-7808	414	8	in	in	ADP
cblr-7808	414	9	unpredictable	unpredictable	ADJ
cblr-7808	414	10	statements	statement	NOUN
cblr-7808	414	11	on	on	ADP
cblr-7808	414	12	twitter	twitter	NOUN
cblr-7808	414	13	about	about	ADP
cblr-7808	414	14	the	the	DET
cblr-7808	414	15	future	future	NOUN
cblr-7808	414	16	of	of	ADP
cblr-7808	414	17	.	.	PUNCT
cblr-7808	414	18	.	.	PUNCT
cblr-7808	414	19	.	.	PUNCT
cblr-7808	415	1	tesla	tesla	PROPN
cblr-7808	415	2	,	,	PUNCT
cblr-7808	415	3	might	might	AUX
cblr-7808	415	4	be	be	AUX
cblr-7808	415	5	seen	see	VERB
cblr-7808	415	6	as	as	ADP
cblr-7808	415	7	the	the	DET
cblr-7808	415	8	biggest	big	ADJ
cblr-7808	415	9	example	example	NOUN
cblr-7808	415	10	of	of	ADP
cblr-7808	415	11	an	an	DET
cblr-7808	415	12	overconfident	overconfident	ADJ
cblr-7808	415	13	ceo	ceo	NOUN
cblr-7808	415	14	.	.	PUNCT
cblr-7808	415	15	”126	”126	PROPN
cblr-7808	415	16	in	in	ADP
cblr-7808	415	17	may	may	PROPN
cblr-7808	415	18	2019	2019	NUM
cblr-7808	415	19	,	,	PUNCT
cblr-7808	415	20	after	after	SCONJ
cblr-7808	415	21	tesla	tesla	PROPN
cblr-7808	415	22	’s	’s	PART
cblr-7808	415	23	share	share	NOUN
cblr-7808	415	24	price	price	NOUN
cblr-7808	415	25	plunged	plunge	VERB
cblr-7808	415	26	and	and	CCONJ
cblr-7808	415	27	—	—	PUNCT
cblr-7808	415	28	with	with	ADP
cblr-7808	415	29	a	a	DET
cblr-7808	415	30	worst	bad	ADJ
cblr-7808	415	31	-	-	PUNCT
cblr-7808	415	32	case	case	NOUN
cblr-7808	415	33	future	future	ADJ
cblr-7808	415	34	valuation	valuation	NOUN
cblr-7808	415	35	of	of	ADP
cblr-7808	415	36	$	$	SYM
cblr-7808	415	37	10	10	NUM
cblr-7808	415	38	—	—	PUNCT
cblr-7808	415	39	the	the	DET
cblr-7808	415	40	124	124	NUM
cblr-7808	415	41	antoine	antoine	PROPN
cblr-7808	415	42	gara	gara	NOUN
cblr-7808	415	43	,	,	PUNCT
cblr-7808	415	44	navistar	navistar	NOUN
cblr-7808	415	45	steps	step	NOUN
cblr-7808	415	46	off	off	ADP
cblr-7808	415	47	the	the	DET
cblr-7808	415	48	bankruptcy	bankruptcy	NOUN
cblr-7808	415	49	brink	brink	NOUN
cblr-7808	415	50	with	with	ADP
cblr-7808	415	51	volkswagen	volkswagen	PROPN
cblr-7808	415	52	partnership	partnership	PROPN
cblr-7808	415	53	,	,	PUNCT
cblr-7808	415	54	forbes	forbes	PROPN
cblr-7808	415	55	(	(	PUNCT
cblr-7808	415	56	sep	sep	PROPN
cblr-7808	415	57	.	.	PROPN
cblr-7808	416	1	6	6	NUM
cblr-7808	416	2	,	,	PUNCT
cblr-7808	416	3	2016	2016	NUM
cblr-7808	416	4	,	,	PUNCT
cblr-7808	416	5	10:07	10:07	NUM
cblr-7808	416	6	am	am	NOUN
cblr-7808	416	7	)	)	PUNCT
cblr-7808	416	8	,	,	PUNCT
cblr-7808	416	9	https://www.forbes.com/sites/antoinegara/2016/09/06/navistar-steps-offthe-bankruptcy-brink-with-volkswagen-partnership/	https://www.forbes.com/sites/antoinegara/2016/09/06/navistar-steps-offthe-bankruptcy-brink-with-volkswagen-partnership/	PROPN
cblr-7808	417	1	[	[	X
cblr-7808	417	2	https://perma.cc/3c76-mkss	https://perma.cc/3c76-mkss	X
cblr-7808	417	3	]	]	X
cblr-7808	417	4	.	.	PUNCT
cblr-7808	418	1	125	125	NUM
cblr-7808	418	2	see	see	VERB
cblr-7808	418	3	zohar	zohar	PROPN
cblr-7808	418	4	goshen	goshen	PROPN
cblr-7808	418	5	&	&	CCONJ
cblr-7808	418	6	assaf	assaf	PROPN
cblr-7808	418	7	hamdani	hamdani	PROPN
cblr-7808	418	8	,	,	PUNCT
cblr-7808	418	9	corporate	corporate	ADJ
cblr-7808	418	10	control	control	NOUN
cblr-7808	418	11	and	and	CCONJ
cblr-7808	418	12	idiosyncratic	idiosyncratic	ADJ
cblr-7808	418	13	vision	vision	NOUN
cblr-7808	418	14	,	,	PUNCT
cblr-7808	418	15	125	125	NUM
cblr-7808	418	16	yale	yale	PROPN
cblr-7808	418	17	l.j	l.j	PROPN
cblr-7808	418	18	.	.	PROPN
cblr-7808	418	19	560	560	NUM
cblr-7808	418	20	,	,	PUNCT
cblr-7808	418	21	577–79	577–79	PROPN
cblr-7808	418	22	(	(	PUNCT
cblr-7808	418	23	2016	2016	NUM
cblr-7808	418	24	)	)	PUNCT
cblr-7808	418	25	(	(	PUNCT
cblr-7808	418	26	describing	describe	VERB
cblr-7808	418	27	the	the	DET
cblr-7808	418	28	concept	concept	NOUN
cblr-7808	418	29	of	of	ADP
cblr-7808	418	30	“	"	PUNCT
cblr-7808	418	31	idiosyncratic	idiosyncratic	ADJ
cblr-7808	418	32	vision	vision	NOUN
cblr-7808	418	33	”	"	PUNCT
cblr-7808	418	34	)	)	PUNCT
cblr-7808	418	35	.	.	PUNCT
cblr-7808	419	1	126	126	NUM
cblr-7808	419	2	josie	josie	PROPN
cblr-7808	419	3	rhodes	rhodes	PROPN
cblr-7808	419	4	cook	cook	PROPN
cblr-7808	419	5	,	,	PUNCT
cblr-7808	419	6	bad	bad	ADJ
cblr-7808	419	7	news	news	NOUN
cblr-7808	419	8	,	,	PUNCT
cblr-7808	419	9	elon	elon	PROPN
cblr-7808	419	10	musk	musk	PROPN
cblr-7808	419	11	:	:	PUNCT
cblr-7808	419	12	overconfident	overconfident	ADJ
cblr-7808	419	13	ceos	ceos	NOUN
cblr-7808	419	14	at	at	ADP
cblr-7808	419	15	higher	high	ADJ
cblr-7808	419	16	risk	risk	NOUN
cblr-7808	419	17	of	of	ADP
cblr-7808	419	18	being	be	AUX
cblr-7808	419	19	sued	sue	VERB
cblr-7808	419	20	,	,	PUNCT
cblr-7808	419	21	study	study	NOUN
cblr-7808	419	22	finds	find	VERB
cblr-7808	419	23	,	,	PUNCT
cblr-7808	419	24	inverse	inverse	NOUN
cblr-7808	419	25	(	(	PUNCT
cblr-7808	419	26	aug	aug	PROPN
cblr-7808	419	27	.	.	PROPN
cblr-7808	419	28	29	29	NUM
cblr-7808	419	29	,	,	PUNCT
cblr-7808	419	30	2018	2018	NUM
cblr-7808	419	31	,	,	PUNCT
cblr-7808	419	32	12:59	12:59	NUM
cblr-7808	419	33	pm	pm	NOUN
cblr-7808	419	34	)	)	PUNCT
cblr-7808	419	35	,	,	PUNCT
cblr-7808	419	36	https://www.inverse.com/article/48486-overconfident-ceos-are-more-likelyto-get-sued-study-says	https://www.inverse.com/article/48486-overconfident-ceos-are-more-likelyto-get-sued-study-say	VERB
cblr-7808	419	37	[	[	X
cblr-7808	419	38	https://perma.cc/cjp5-jmmd	https://perma.cc/cjp5-jmmd	X
cblr-7808	419	39	]	]	PUNCT
cblr-7808	419	40	.	.	PUNCT
cblr-7808	420	1	kastiel	kastiel	PROPN
cblr-7808	420	2	(	(	PUNCT
cblr-7808	420	3	comment	comment	NOUN
cblr-7808	420	4	)	)	PUNCT
cblr-7808	420	5	1/15/2021	1/15/2021	NUM
cblr-7808	420	6	2:38	2:38	NUM
cblr-7808	420	7	pm	pm	NOUN
cblr-7808	420	8	862	862	NUM
cblr-7808	420	9	columbia	columbia	PROPN
cblr-7808	420	10	business	business	NOUN
cblr-7808	420	11	law	law	PROPN
cblr-7808	420	12	review	review	NOUN
cblr-7808	421	1	[	[	X
cblr-7808	421	2	vol	vol	NOUN
cblr-7808	421	3	.	.	PUNCT
cblr-7808	421	4	2020	2020	NUM
cblr-7808	421	5	company	company	NOUN
cblr-7808	421	6	neared	near	VERB
cblr-7808	421	7	bankruptcy,127	bankruptcy,127	NOUN
cblr-7808	421	8	one	one	PRON
cblr-7808	421	9	could	could	AUX
cblr-7808	421	10	view	view	VERB
cblr-7808	421	11	musk	musk	ADJ
cblr-7808	421	12	as	as	ADP
cblr-7808	421	13	suffering	suffer	VERB
cblr-7808	421	14	from	from	ADP
cblr-7808	421	15	severe	severe	ADJ
cblr-7808	421	16	long	long	ADJ
cblr-7808	421	17	-	-	PUNCT
cblr-7808	421	18	term	term	NOUN
cblr-7808	421	19	bias	bias	NOUN
cblr-7808	421	20	and	and	CCONJ
cblr-7808	421	21	over	over	ADP
cblr-7808	421	22	-	-	PUNCT
cblr-7808	421	23	optimism	optimism	NOUN
cblr-7808	421	24	.	.	PUNCT
cblr-7808	422	1	nowadays	nowadays	ADV
cblr-7808	422	2	,	,	PUNCT
cblr-7808	422	3	tesla	tesla	PROPN
cblr-7808	422	4	’s	’s	PART
cblr-7808	422	5	share	share	NOUN
cblr-7808	422	6	price	price	NOUN
cblr-7808	422	7	is	be	AUX
cblr-7808	422	8	more	more	ADJ
cblr-7808	422	9	than	than	ADP
cblr-7808	422	10	sixty	sixty	NUM
cblr-7808	422	11	times	time	NOUN
cblr-7808	422	12	higher	high	ADJ
cblr-7808	422	13	(	(	PUNCT
cblr-7808	422	14	reaching	reach	VERB
cblr-7808	422	15	an	an	DET
cblr-7808	422	16	all	all	DET
cblr-7808	422	17	-	-	PUNCT
cblr-7808	422	18	time	time	NOUN
cblr-7808	422	19	high	high	ADJ
cblr-7808	422	20	price	price	NOUN
cblr-7808	422	21	of	of	ADP
cblr-7808	422	22	$	$	SYM
cblr-7808	422	23	695	695	NUM
cblr-7808	422	24	in	in	ADP
cblr-7808	422	25	december	december	PROPN
cblr-7808	422	26	2020),128	2020),128	NUM
cblr-7808	422	27	and	and	CCONJ
cblr-7808	422	28	musk	musk	NOUN
cblr-7808	422	29	’s	’s	PART
cblr-7808	422	30	strategy	strategy	NOUN
cblr-7808	422	31	is	be	AUX
cblr-7808	422	32	a	a	DET
cblr-7808	422	33	huge	huge	ADJ
cblr-7808	422	34	success	success	NOUN
cblr-7808	422	35	story.129	story.129	PROPN
cblr-7808	422	36	panasonic	panasonic	PROPN
cblr-7808	422	37	’s	’s	PART
cblr-7808	422	38	ceo	ceo	PROPN
cblr-7808	422	39	recently	recently	ADV
cblr-7808	422	40	suggested	suggest	VERB
cblr-7808	422	41	“	"	PUNCT
cblr-7808	422	42	elon	elon	PROPN
cblr-7808	422	43	musk	musk	PROPN
cblr-7808	422	44	is	be	AUX
cblr-7808	422	45	‘	'	PUNCT
cblr-7808	422	46	a	a	DET
cblr-7808	422	47	genius	genius	NOUN
cblr-7808	422	48	who	who	PRON
cblr-7808	422	49	defies	defy	VERB
cblr-7808	422	50	common	common	ADJ
cblr-7808	422	51	sense	sense	NOUN
cblr-7808	422	52	and	and	CCONJ
cblr-7808	422	53	can	can	AUX
cblr-7808	422	54	be	be	AUX
cblr-7808	422	55	overly	overly	ADV
cblr-7808	422	56	optimistic	optimistic	ADJ
cblr-7808	422	57	.	.	PUNCT
cblr-7808	422	58	’”130	’”130	PROPN
cblr-7808	422	59	this	this	PRON
cblr-7808	422	60	suggests	suggest	VERB
cblr-7808	422	61	that	that	SCONJ
cblr-7808	422	62	some	some	DET
cblr-7808	422	63	ceo	ceo	NOUN
cblr-7808	422	64	overconfidence	overconfidence	NOUN
cblr-7808	422	65	could	could	AUX
cblr-7808	422	66	benefit	benefit	VERB
cblr-7808	422	67	shareholders.131	shareholders.131	NOUN
cblr-7808	422	68	the	the	DET
cblr-7808	422	69	good	good	PROPN
cblr-7808	422	70	news	news	NOUN
cblr-7808	422	71	is	be	AUX
cblr-7808	422	72	that	that	SCONJ
cblr-7808	422	73	the	the	DET
cblr-7808	422	74	difficulty	difficulty	NOUN
cblr-7808	422	75	of	of	ADP
cblr-7808	422	76	distinguishing	distinguish	VERB
cblr-7808	422	77	ex	ex	PRON
cblr-7808	422	78	post	post	NOUN
cblr-7808	422	79	among	among	ADP
cblr-7808	422	80	the	the	DET
cblr-7808	422	81	three	three	NUM
cblr-7808	422	82	alternative	alternative	ADJ
cblr-7808	422	83	interpretations	interpretation	NOUN
cblr-7808	422	84	of	of	ADP
cblr-7808	422	85	the	the	DET
cblr-7808	422	86	problems	problem	NOUN
cblr-7808	422	87	in	in	ADP
cblr-7808	422	88	barzuza	barzuza	NOUN
cblr-7808	422	89	and	and	CCONJ
cblr-7808	422	90	talley	talley	NOUN
cblr-7808	422	91	’s	’s	PART
cblr-7808	422	92	case	case	NOUN
cblr-7808	422	93	studies	study	NOUN
cblr-7808	422	94	—	—	PUNCT
cblr-7808	422	95	agency	agency	NOUN
cblr-7808	422	96	costs	cost	NOUN
cblr-7808	422	97	,	,	PUNCT
cblr-7808	422	98	long	long	ADJ
cblr-7808	422	99	-	-	PUNCT
cblr-7808	422	100	term	term	NOUN
cblr-7808	422	101	bias	bias	NOUN
cblr-7808	422	102	,	,	PUNCT
cblr-7808	422	103	or	or	CCONJ
cblr-7808	422	104	mere	mere	ADJ
cblr-7808	422	105	incompetence	incompetence	NOUN
cblr-7808	422	106	—	—	PUNCT
cblr-7808	422	107	has	have	AUX
cblr-7808	422	108	limited	limit	VERB
cblr-7808	422	109	practical	practical	ADJ
cblr-7808	422	110	significance	significance	NOUN
cblr-7808	422	111	.	.	PUNCT
cblr-7808	423	1	the	the	DET
cblr-7808	423	2	cure	cure	NOUN
cblr-7808	423	3	to	to	ADP
cblr-7808	423	4	all	all	PRON
cblr-7808	423	5	of	of	ADP
cblr-7808	423	6	these	these	DET
cblr-7808	423	7	diseases	disease	NOUN
cblr-7808	423	8	is	be	AUX
cblr-7808	423	9	similar	similar	ADJ
cblr-7808	423	10	:	:	PUNCT
cblr-7808	423	11	if	if	SCONJ
cblr-7808	423	12	legal	legal	ADJ
cblr-7808	423	13	rules	rule	NOUN
cblr-7808	423	14	reduce	reduce	VERB
cblr-7808	423	15	the	the	DET
cblr-7808	423	16	insulation	insulation	NOUN
cblr-7808	423	17	of	of	ADP
cblr-7808	423	18	managers	manager	NOUN
cblr-7808	423	19	from	from	ADP
cblr-7808	423	20	shareholder	shareholder	NOUN
cblr-7808	423	21	discipline	discipline	NOUN
cblr-7808	423	22	,	,	PUNCT
cblr-7808	423	23	then	then	ADV
cblr-7808	423	24	shareholders	shareholder	NOUN
cblr-7808	423	25	can	can	AUX
cblr-7808	423	26	hold	hold	VERB
cblr-7808	423	27	managers	manager	NOUN
cblr-7808	423	28	accountable	accountable	ADJ
cblr-7808	423	29	and	and	CCONJ
cblr-7808	423	30	cause	cause	VERB
cblr-7808	423	31	them	they	PRON
cblr-7808	423	32	to	to	PART
cblr-7808	423	33	internalize	internalize	VERB
cblr-7808	423	34	the	the	DET
cblr-7808	423	35	costs	cost	NOUN
cblr-7808	423	36	their	their	PRON
cblr-7808	423	37	actions	action	NOUN
cblr-7808	423	38	127	127	NUM
cblr-7808	423	39	see	see	VERB
cblr-7808	423	40	anders	ander	NOUN
cblr-7808	423	41	bylund	bylund	PROPN
cblr-7808	423	42	,	,	PUNCT
cblr-7808	423	43	why	why	SCONJ
cblr-7808	423	44	tesla	tesla	PROPN
cblr-7808	423	45	shares	share	NOUN
cblr-7808	423	46	fell	fall	VERB
cblr-7808	423	47	22	22	NUM
cblr-7808	423	48	%	%	NOUN
cblr-7808	423	49	in	in	ADP
cblr-7808	423	50	may	may	PROPN
cblr-7808	423	51	,	,	PUNCT
cblr-7808	423	52	the	the	DET
cblr-7808	423	53	motley	motley	ADJ
cblr-7808	423	54	fool	fool	NOUN
cblr-7808	423	55	(	(	PUNCT
cblr-7808	423	56	june	june	PROPN
cblr-7808	423	57	10	10	NUM
cblr-7808	423	58	,	,	PUNCT
cblr-7808	423	59	2019	2019	NUM
cblr-7808	423	60	,	,	PUNCT
cblr-7808	423	61	3:25	3:25	NUM
cblr-7808	423	62	pm	pm	NOUN
cblr-7808	423	63	)	)	PUNCT
cblr-7808	423	64	,	,	PUNCT
cblr-7808	423	65	https://www.fool.com/investing/2019/06/10/why-tesla-shares-fell-22-inmay.aspx	https://www.fool.com/investing/2019/06/10/why-tesla-shares-fell-22-inmay.aspx	X
cblr-7808	423	66	(	(	PUNCT
cblr-7808	423	67	on	on	ADP
cblr-7808	423	68	file	file	NOUN
cblr-7808	423	69	with	with	ADP
cblr-7808	423	70	the	the	DET
cblr-7808	423	71	columbia	columbia	PROPN
cblr-7808	423	72	business	business	PROPN
cblr-7808	423	73	law	law	PROPN
cblr-7808	423	74	review	review	PROPN
cblr-7808	423	75	)	)	PUNCT
cblr-7808	423	76	(	(	PUNCT
cblr-7808	423	77	noting	note	VERB
cblr-7808	423	78	that	that	SCONJ
cblr-7808	423	79	“	"	PUNCT
cblr-7808	423	80	[	[	PUNCT
cblr-7808	423	81	m]any	m]any	NOUN
cblr-7808	423	82	wall	wall	PROPN
cblr-7808	423	83	street	street	PROPN
cblr-7808	423	84	analysts	analyst	NOUN
cblr-7808	423	85	lowered	lower	VERB
cblr-7808	423	86	their	their	PRON
cblr-7808	423	87	price	price	NOUN
cblr-7808	423	88	targets	target	NOUN
cblr-7808	423	89	on	on	ADP
cblr-7808	423	90	the	the	DET
cblr-7808	423	91	stock	stock	NOUN
cblr-7808	423	92	,	,	PUNCT
cblr-7808	423	93	led	lead	VERB
cblr-7808	423	94	by	by	ADP
cblr-7808	423	95	morgan	morgan	PROPN
cblr-7808	423	96	stanley	stanley	PROPN
cblr-7808	423	97	dropping	drop	VERB
cblr-7808	423	98	its	its	PRON
cblr-7808	423	99	worst	bad	ADJ
cblr-7808	423	100	-	-	PUNCT
cblr-7808	423	101	case	case	NOUN
cblr-7808	423	102	valuation	valuation	NOUN
cblr-7808	423	103	estimate	estimate	NOUN
cblr-7808	423	104	from	from	ADP
cblr-7808	423	105	$	$	SYM
cblr-7808	423	106	97	97	NUM
cblr-7808	423	107	per	per	ADP
cblr-7808	423	108	share	share	NOUN
cblr-7808	423	109	all	all	DET
cblr-7808	423	110	the	the	DET
cblr-7808	423	111	way	way	NOUN
cblr-7808	423	112	down	down	ADP
cblr-7808	423	113	to	to	ADP
cblr-7808	423	114	$	$	SYM
cblr-7808	423	115	10	10	NUM
cblr-7808	423	116	”	"	PUNCT
cblr-7808	423	117	)	)	PUNCT
cblr-7808	423	118	.	.	PUNCT
cblr-7808	424	1	128	128	NUM
cblr-7808	424	2	tesla	tesla	PROPN
cblr-7808	424	3	,	,	PUNCT
cblr-7808	424	4	inc	inc	PROPN
cblr-7808	424	5	.	.	PROPN
cblr-7808	424	6	(	(	PUNCT
cblr-7808	424	7	tsla	tsla	PROPN
cblr-7808	424	8	)	)	PUNCT
cblr-7808	424	9	,	,	PUNCT
cblr-7808	424	10	yahoo	yahoo	PROPN
cblr-7808	424	11	!	!	PROPN
cblr-7808	424	12	finance	finance	NOUN
cblr-7808	424	13	,	,	PUNCT
cblr-7808	424	14	https://finance.yahoo.com/quote/tsla/	https://finance.yahoo.com/quote/tsla/	PROPN
cblr-7808	424	15	[	[	X
cblr-7808	424	16	https://perma.cc/9yah-ja83	https://perma.cc/9yah-ja83	X
cblr-7808	424	17	]	]	X
cblr-7808	424	18	(	(	PUNCT
cblr-7808	424	19	last	last	ADV
cblr-7808	424	20	accessed	access	VERB
cblr-7808	424	21	december	december	PROPN
cblr-7808	424	22	24	24	NUM
cblr-7808	424	23	,	,	PUNCT
cblr-7808	424	24	2020	2020	NUM
cblr-7808	424	25	)	)	PUNCT
cblr-7808	424	26	.	.	PUNCT
cblr-7808	425	1	129	129	NUM
cblr-7808	425	2	see	see	VERB
cblr-7808	425	3	panasonic	panasonic	PROPN
cblr-7808	425	4	ceo	ceo	PROPN
cblr-7808	425	5	says	say	VERB
cblr-7808	425	6	tesla	tesla	PROPN
cblr-7808	425	7	’s	’s	PART
cblr-7808	425	8	elon	elon	PROPN
cblr-7808	425	9	musk	musk	PROPN
cblr-7808	425	10	a	a	DET
cblr-7808	425	11	‘	'	PUNCT
cblr-7808	425	12	genius	genius	NOUN
cblr-7808	425	13	’	'	PUNCT
cblr-7808	425	14	who	who	PRON
cblr-7808	425	15	can	can	AUX
cblr-7808	425	16	be	be	AUX
cblr-7808	425	17	‘	'	PUNCT
cblr-7808	425	18	overly	overly	ADV
cblr-7808	425	19	optimistic	optimistic	ADJ
cblr-7808	425	20	’	'	PUNCT
cblr-7808	425	21	,	,	PUNCT
cblr-7808	425	22	reuters	reuters	PROPN
cblr-7808	425	23	(	(	PUNCT
cblr-7808	425	24	last	last	ADJ
cblr-7808	425	25	updated	update	VERB
cblr-7808	425	26	july	july	PROPN
cblr-7808	425	27	7	7	NUM
cblr-7808	425	28	,	,	PUNCT
cblr-7808	425	29	2020	2020	NUM
cblr-7808	425	30	,	,	PUNCT
cblr-7808	425	31	12:00	12:00	NUM
cblr-7808	425	32	pm	pm	NOUN
cblr-7808	425	33	)	)	PUNCT
cblr-7808	425	34	,	,	PUNCT
cblr-7808	425	35	https://www.reuters.com/article/us-panasonic-tesla-iduskbn2482bf	https://www.reuters.com/article/us-panasonic-tesla-iduskbn2482bf	PROPN
cblr-7808	425	36	[	[	X
cblr-7808	425	37	https://perma.cc/y5xt-a82	https://perma.cc/y5xt-a82	X
cblr-7808	425	38	t	t	X
cblr-7808	425	39	]	]	PUNCT
cblr-7808	425	40	.	.	PUNCT
cblr-7808	426	1	130	130	NUM
cblr-7808	427	1	i	i	PRON
cblr-7808	427	2	d.	d.	NOUN
cblr-7808	427	3	131	131	NUM
cblr-7808	427	4	empirical	empirical	ADJ
cblr-7808	427	5	evidence	evidence	NOUN
cblr-7808	427	6	shows	show	VERB
cblr-7808	427	7	that	that	SCONJ
cblr-7808	427	8	overconfidence	overconfidence	NOUN
cblr-7808	427	9	and	and	CCONJ
cblr-7808	427	10	optimism	optimism	NOUN
cblr-7808	427	11	can	can	AUX
cblr-7808	427	12	increase	increase	VERB
cblr-7808	427	13	firm	firm	ADJ
cblr-7808	427	14	value	value	NOUN
cblr-7808	427	15	by	by	ADP
cblr-7808	427	16	counteracting	counteract	VERB
cblr-7808	427	17	risk	risk	NOUN
cblr-7808	427	18	aversion	aversion	NOUN
cblr-7808	427	19	,	,	PUNCT
cblr-7808	427	20	inducing	induce	VERB
cblr-7808	427	21	entrepreneurship	entrepreneurship	NOUN
cblr-7808	427	22	,	,	PUNCT
cblr-7808	427	23	and	and	CCONJ
cblr-7808	427	24	attracting	attract	VERB
cblr-7808	427	25	similarly	similarly	ADV
cblr-7808	427	26	-	-	PUNCT
cblr-7808	427	27	minded	minded	ADJ
cblr-7808	427	28	employees	employee	NOUN
cblr-7808	427	29	.	.	PUNCT
cblr-7808	428	1	see	see	VERB
cblr-7808	428	2	,	,	PUNCT
cblr-7808	428	3	e.g.	e.g.	ADV
cblr-7808	428	4	,	,	PUNCT
cblr-7808	428	5	gilles	gille	NOUN
cblr-7808	428	6	hilary	hilary	PROPN
cblr-7808	428	7	et	et	PROPN
cblr-7808	428	8	al	al	PROPN
cblr-7808	428	9	.	.	PROPN
cblr-7808	428	10	,	,	PUNCT
cblr-7808	428	11	the	the	DET
cblr-7808	428	12	bright	bright	ADJ
cblr-7808	428	13	side	side	NOUN
cblr-7808	428	14	of	of	ADP
cblr-7808	428	15	managerial	managerial	ADJ
cblr-7808	428	16	over	over	ADP
cblr-7808	428	17	-	-	PUNCT
cblr-7808	428	18	optimism	optimism	NOUN
cblr-7808	428	19	,	,	PUNCT
cblr-7808	428	20	62	62	NUM
cblr-7808	428	21	j.	j.	PROPN
cblr-7808	428	22	acct	acct	PROPN
cblr-7808	428	23	.	.	PROPN
cblr-7808	428	24	&	&	CCONJ
cblr-7808	428	25	econ	econ	PROPN
cblr-7808	428	26	.	.	PROPN
cblr-7808	429	1	46	46	NUM
cblr-7808	429	2	,	,	PUNCT
cblr-7808	429	3	47	47	NUM
cblr-7808	429	4	,	,	PUNCT
cblr-7808	429	5	61	61	NUM
cblr-7808	429	6	(	(	PUNCT
cblr-7808	429	7	2016	2016	NUM
cblr-7808	429	8	)	)	PUNCT
cblr-7808	429	9	(	(	PUNCT
cblr-7808	429	10	arguing	argue	VERB
cblr-7808	429	11	that	that	SCONJ
cblr-7808	429	12	over	over	NOUN
cblr-7808	429	13	-	-	PUNCT
cblr-7808	429	14	optimism	optimism	NOUN
cblr-7808	429	15	may	may	AUX
cblr-7808	429	16	increase	increase	VERB
cblr-7808	429	17	managerial	managerial	ADJ
cblr-7808	429	18	investment	investment	NOUN
cblr-7808	429	19	and	and	CCONJ
cblr-7808	429	20	effort	effort	NOUN
cblr-7808	429	21	)	)	PUNCT
cblr-7808	429	22	;	;	PUNCT
cblr-7808	429	23	simon	simon	PROPN
cblr-7808	429	24	gervais	gervais	PROPN
cblr-7808	429	25	&	&	CCONJ
cblr-7808	429	26	itay	itay	PROPN
cblr-7808	429	27	goldstein	goldstein	PROPN
cblr-7808	429	28	,	,	PUNCT
cblr-7808	429	29	the	the	DET
cblr-7808	429	30	positive	positive	ADJ
cblr-7808	429	31	effects	effect	NOUN
cblr-7808	429	32	of	of	ADP
cblr-7808	429	33	biased	biased	ADJ
cblr-7808	429	34	self	self	NOUN
cblr-7808	429	35	-	-	PUNCT
cblr-7808	429	36	perceptions	perception	NOUN
cblr-7808	429	37	in	in	ADP
cblr-7808	429	38	firms	firm	NOUN
cblr-7808	429	39	,	,	PUNCT
cblr-7808	429	40	11	11	NUM
cblr-7808	429	41	rev	rev	X
cblr-7808	429	42	.	.	PROPN
cblr-7808	429	43	fin	fin	NOUN
cblr-7808	429	44	.	.	PUNCT
cblr-7808	430	1	453	453	NUM
cblr-7808	430	2	,	,	PUNCT
cblr-7808	430	3	455	455	NUM
cblr-7808	430	4	–	–	PUNCT
cblr-7808	430	5	57	57	NUM
cblr-7808	430	6	(	(	PUNCT
cblr-7808	430	7	2007	2007	NUM
cblr-7808	430	8	)	)	PUNCT
cblr-7808	430	9	(	(	PUNCT
cblr-7808	430	10	suggesting	suggest	VERB
cblr-7808	430	11	that	that	SCONJ
cblr-7808	430	12	overconfident	overconfident	ADJ
cblr-7808	430	13	individuals	individual	NOUN
cblr-7808	430	14	may	may	AUX
cblr-7808	430	15	be	be	AUX
cblr-7808	430	16	more	more	ADV
cblr-7808	430	17	likely	likely	ADJ
cblr-7808	430	18	to	to	PART
cblr-7808	430	19	engage	engage	VERB
cblr-7808	430	20	in	in	ADP
cblr-7808	430	21	entrepreneurship	entrepreneurship	NOUN
cblr-7808	430	22	and	and	CCONJ
cblr-7808	430	23	work	work	VERB
cblr-7808	430	24	well	well	ADV
cblr-7808	430	25	in	in	ADP
cblr-7808	430	26	teams	team	NOUN
cblr-7808	430	27	)	)	PUNCT
cblr-7808	430	28	.	.	PUNCT
cblr-7808	431	1	kastiel	kastiel	PROPN
cblr-7808	431	2	(	(	PUNCT
cblr-7808	431	3	comment	comment	NOUN
cblr-7808	431	4	)	)	PUNCT
cblr-7808	431	5	1/15/2021	1/15/2021	NUM
cblr-7808	431	6	2:38	2:38	NUM
cblr-7808	431	7	pm	pm	NOUN
cblr-7808	431	8	no	no	INTJ
cblr-7808	431	9	.	.	PUNCT
cblr-7808	432	1	3:834	3:834	NUM
cblr-7808	432	2	]	]	X
cblr-7808	432	3	long	long	ADJ
cblr-7808	432	4	-	-	PUNCT
cblr-7808	432	5	term	term	NOUN
cblr-7808	432	6	bias	bias	NOUN
cblr-7808	432	7	,	,	PUNCT
cblr-7808	432	8	incentives	incentive	NOUN
cblr-7808	432	9	,	,	PUNCT
cblr-7808	432	10	and	and	CCONJ
cblr-7808	432	11	agency	agency	NOUN
cblr-7808	432	12	costs	cost	VERB
cblr-7808	432	13	863	863	NUM
cblr-7808	432	14	generate.132	generate.132	NOUN
cblr-7808	432	15	managers	manager	NOUN
cblr-7808	432	16	who	who	PRON
cblr-7808	432	17	underperform	underperform	VERB
cblr-7808	432	18	and	and	CCONJ
cblr-7808	432	19	ignore	ignore	VERB
cblr-7808	432	20	indications	indication	NOUN
cblr-7808	432	21	of	of	ADP
cblr-7808	432	22	shareholder	shareholder	NOUN
cblr-7808	432	23	dissatisfaction	dissatisfaction	NOUN
cblr-7808	432	24	would	would	AUX
cblr-7808	432	25	face	face	VERB
cblr-7808	432	26	the	the	DET
cblr-7808	432	27	possibility	possibility	NOUN
cblr-7808	432	28	of	of	ADP
cblr-7808	432	29	removal	removal	NOUN
cblr-7808	432	30	,	,	PUNCT
cblr-7808	432	31	regardless	regardless	ADV
cblr-7808	432	32	of	of	ADP
cblr-7808	432	33	whether	whether	SCONJ
cblr-7808	432	34	the	the	DET
cblr-7808	432	35	cause	cause	NOUN
cblr-7808	432	36	of	of	ADP
cblr-7808	432	37	such	such	ADJ
cblr-7808	432	38	failure	failure	NOUN
cblr-7808	432	39	is	be	AUX
cblr-7808	432	40	long	long	ADJ
cblr-7808	432	41	-	-	PUNCT
cblr-7808	432	42	term	term	NOUN
cblr-7808	432	43	bias	bias	NOUN
cblr-7808	432	44	,	,	PUNCT
cblr-7808	432	45	incompetence	incompetence	NOUN
cblr-7808	432	46	,	,	PUNCT
cblr-7808	432	47	or	or	CCONJ
cblr-7808	432	48	the	the	DET
cblr-7808	432	49	excessive	excessive	ADJ
cblr-7808	432	50	consumption	consumption	NOUN
cblr-7808	432	51	of	of	ADP
cblr-7808	432	52	private	private	ADJ
cblr-7808	432	53	benefits	benefit	NOUN
cblr-7808	432	54	of	of	ADP
cblr-7808	432	55	control	control	NOUN
cblr-7808	432	56	.	.	PUNCT
cblr-7808	433	1	conversely	conversely	ADV
cblr-7808	433	2	,	,	PUNCT
cblr-7808	433	3	overoptimistic	overoptimistic	ADJ
cblr-7808	433	4	managers	manager	NOUN
cblr-7808	433	5	who	who	PRON
cblr-7808	433	6	perform	perform	VERB
cblr-7808	433	7	well	well	INTJ
cblr-7808	433	8	(	(	PUNCT
cblr-7808	433	9	like	like	INTJ
cblr-7808	433	10	musk	musk	NOUN
cblr-7808	433	11	)	)	PUNCT
cblr-7808	433	12	are	be	AUX
cblr-7808	433	13	likely	likely	ADJ
cblr-7808	433	14	to	to	PART
cblr-7808	433	15	receive	receive	VERB
cblr-7808	433	16	shareholder	shareholder	NOUN
cblr-7808	433	17	support	support	NOUN
cblr-7808	433	18	and	and	CCONJ
cblr-7808	433	19	remain	remain	VERB
cblr-7808	433	20	in	in	ADP
cblr-7808	433	21	office	office	NOUN
cblr-7808	433	22	.	.	PUNCT
cblr-7808	434	1	finally	finally	ADV
cblr-7808	434	2	,	,	PUNCT
cblr-7808	434	3	it	it	PRON
cblr-7808	434	4	is	be	AUX
cblr-7808	434	5	worth	worth	ADJ
cblr-7808	434	6	noting	note	VERB
cblr-7808	434	7	that	that	SCONJ
cblr-7808	434	8	,	,	PUNCT
cblr-7808	434	9	according	accord	VERB
cblr-7808	434	10	to	to	ADP
cblr-7808	434	11	barzuza	barzuza	NOUN
cblr-7808	434	12	and	and	CCONJ
cblr-7808	434	13	talley	talley	NOUN
cblr-7808	434	14	,	,	PUNCT
cblr-7808	434	15	the	the	DET
cblr-7808	434	16	distinction	distinction	NOUN
cblr-7808	434	17	between	between	ADP
cblr-7808	434	18	the	the	DET
cblr-7808	434	19	long	long	ADJ
cblr-7808	434	20	-	-	PUNCT
cblr-7808	434	21	termism	termism	NOUN
cblr-7808	434	22	interpretation	interpretation	NOUN
cblr-7808	434	23	they	they	PRON
cblr-7808	434	24	posit	posit	VERB
cblr-7808	434	25	and	and	CCONJ
cblr-7808	434	26	agency	agency	NOUN
cblr-7808	434	27	cost	cost	NOUN
cblr-7808	434	28	theory	theory	NOUN
cblr-7808	434	29	does	do	AUX
cblr-7808	434	30	play	play	VERB
cblr-7808	434	31	an	an	DET
cblr-7808	434	32	important	important	ADJ
cblr-7808	434	33	role	role	NOUN
cblr-7808	434	34	in	in	ADP
cblr-7808	434	35	at	at	ADV
cblr-7808	434	36	least	least	ADV
cblr-7808	434	37	one	one	NUM
cblr-7808	434	38	context	context	NOUN
cblr-7808	434	39	:	:	PUNCT
cblr-7808	434	40	executive	executive	ADJ
cblr-7808	434	41	compensation	compensation	NOUN
cblr-7808	434	42	.	.	PUNCT
cblr-7808	435	1	in	in	ADP
cblr-7808	435	2	particular	particular	ADJ
cblr-7808	435	3	,	,	PUNCT
cblr-7808	435	4	they	they	PRON
cblr-7808	435	5	argue	argue	VERB
cblr-7808	435	6	that	that	SCONJ
cblr-7808	435	7	incentive	incentive	NOUN
cblr-7808	435	8	-	-	PUNCT
cblr-7808	435	9	based	base	VERB
cblr-7808	435	10	compensation	compensation	NOUN
cblr-7808	435	11	could	could	AUX
cblr-7808	435	12	mitigate	mitigate	VERB
cblr-7808	435	13	agency	agency	NOUN
cblr-7808	435	14	costs	cost	NOUN
cblr-7808	435	15	but	but	CCONJ
cblr-7808	435	16	does	do	AUX
cblr-7808	435	17	not	not	PART
cblr-7808	435	18	ameliorate	ameliorate	VERB
cblr-7808	435	19	—	—	PUNCT
cblr-7808	435	20	and	and	CCONJ
cblr-7808	435	21	even	even	ADV
cblr-7808	435	22	could	could	AUX
cblr-7808	435	23	aggravate	aggravate	VERB
cblr-7808	435	24	—	—	PUNCT
cblr-7808	435	25	long	long	ADJ
cblr-7808	435	26	-	-	PUNCT
cblr-7808	435	27	termism	termism	NOUN
cblr-7808	435	28	.	.	PUNCT
cblr-7808	436	1	this	this	PRON
cblr-7808	436	2	is	be	AUX
cblr-7808	436	3	because	because	SCONJ
cblr-7808	436	4	overconfident	overconfident	ADJ
cblr-7808	436	5	managers	manager	NOUN
cblr-7808	436	6	probably	probably	ADV
cblr-7808	436	7	invest	invest	VERB
cblr-7808	436	8	even	even	ADV
cblr-7808	436	9	more	more	ADV
cblr-7808	436	10	in	in	ADP
cblr-7808	436	11	long	long	ADJ
cblr-7808	436	12	-	-	PUNCT
cblr-7808	436	13	term	term	NOUN
cblr-7808	436	14	projects	project	NOUN
cblr-7808	436	15	when	when	SCONJ
cblr-7808	436	16	their	their	PRON
cblr-7808	436	17	compensation	compensation	NOUN
cblr-7808	436	18	is	be	AUX
cblr-7808	436	19	tied	tie	VERB
cblr-7808	436	20	to	to	PART
cblr-7808	436	21	firm	firm	VERB
cblr-7808	436	22	value.133	value.133	PRON
cblr-7808	436	23	in	in	ADP
cblr-7808	436	24	practice	practice	NOUN
cblr-7808	436	25	,	,	PUNCT
cblr-7808	436	26	however	however	ADV
cblr-7808	436	27	,	,	PUNCT
cblr-7808	436	28	it	it	PRON
cblr-7808	436	29	would	would	AUX
cblr-7808	436	30	be	be	AUX
cblr-7808	436	31	extremely	extremely	ADV
cblr-7808	436	32	difficult	difficult	ADJ
cblr-7808	436	33	to	to	PART
cblr-7808	436	34	determine	determine	VERB
cblr-7808	436	35	in	in	ADP
cblr-7808	436	36	advance	advance	NOUN
cblr-7808	436	37	which	which	PRON
cblr-7808	436	38	managers	manager	NOUN
cblr-7808	436	39	suffer	suffer	VERB
cblr-7808	436	40	from	from	ADP
cblr-7808	436	41	longterm	longterm	ADJ
cblr-7808	436	42	biases	bias	NOUN
cblr-7808	436	43	and	and	CCONJ
cblr-7808	436	44	adjust	adjust	VERB
cblr-7808	436	45	their	their	PRON
cblr-7808	436	46	compensation	compensation	NOUN
cblr-7808	436	47	accordingly	accordingly	ADV
cblr-7808	436	48	.	.	PUNCT
cblr-7808	437	1	since	since	SCONJ
cblr-7808	437	2	many	many	ADJ
cblr-7808	437	3	managers	manager	NOUN
cblr-7808	437	4	do	do	AUX
cblr-7808	437	5	respond	respond	VERB
cblr-7808	437	6	to	to	ADP
cblr-7808	437	7	financial	financial	ADJ
cblr-7808	437	8	incentives	incentive	NOUN
cblr-7808	437	9	and	and	CCONJ
cblr-7808	437	10	market	market	NOUN
cblr-7808	437	11	signals,134	signals,134	NOUN
cblr-7808	437	12	it	it	PRON
cblr-7808	437	13	could	could	AUX
cblr-7808	437	14	be	be	AUX
cblr-7808	437	15	counter	counter	ADJ
cblr-7808	437	16	-	-	ADJ
cblr-7808	437	17	productive	productive	ADJ
cblr-7808	437	18	not	not	PART
cblr-7808	437	19	to	to	PART
cblr-7808	437	20	tie	tie	VERB
cblr-7808	437	21	their	their	PRON
cblr-7808	437	22	compensation	compensation	NOUN
cblr-7808	437	23	to	to	ADP
cblr-7808	437	24	their	their	PRON
cblr-7808	437	25	firm	firm	NOUN
cblr-7808	437	26	’s	’s	PART
cblr-7808	437	27	long	long	ADJ
cblr-7808	437	28	-	-	PUNCT
cblr-7808	437	29	term	term	NOUN
cblr-7808	437	30	value	value	NOUN
cblr-7808	437	31	.	.	PUNCT
cblr-7808	438	1	iv	iv	X
cblr-7808	438	2	.	.	PUNCT
cblr-7808	438	3	implications	implication	NOUN
cblr-7808	438	4	most	most	ADJ
cblr-7808	438	5	of	of	ADP
cblr-7808	438	6	barzuza	barzuza	NOUN
cblr-7808	438	7	and	and	CCONJ
cblr-7808	438	8	talley	talley	NOUN
cblr-7808	438	9	’s	’s	PART
cblr-7808	438	10	policy	policy	NOUN
cblr-7808	438	11	recommendations	recommendation	NOUN
cblr-7808	438	12	are	be	AUX
cblr-7808	438	13	similar	similar	ADJ
cblr-7808	438	14	to	to	ADP
cblr-7808	438	15	the	the	DET
cblr-7808	438	16	recommendations	recommendation	NOUN
cblr-7808	438	17	for	for	ADP
cblr-7808	438	18	mitigating	mitigate	VERB
cblr-7808	438	19	managerial	managerial	ADJ
cblr-7808	438	20	agency	agency	NOUN
cblr-7808	438	21	costs	cost	NOUN
cblr-7808	438	22	.	.	PUNCT
cblr-7808	439	1	they	they	PRON
cblr-7808	439	2	call	call	VERB
cblr-7808	439	3	for	for	ADP
cblr-7808	439	4	reducing	reduce	VERB
cblr-7808	439	5	the	the	DET
cblr-7808	439	6	insulation	insulation	NOUN
cblr-7808	439	7	of	of	ADP
cblr-7808	439	8	managers	manager	NOUN
cblr-7808	439	9	from	from	ADP
cblr-7808	439	10	market	market	NOUN
cblr-7808	439	11	forces	force	NOUN
cblr-7808	439	12	and	and	CCONJ
cblr-7808	439	13	shareholder	shareholder	NOUN
cblr-7808	439	14	disciplinary	disciplinary	ADJ
cblr-7808	439	15	power.135	power.135	NOUN
cblr-7808	439	16	they	they	PRON
cblr-7808	439	17	also	also	ADV
cblr-7808	439	18	oppose	oppose	VERB
cblr-7808	439	19	limitations	limitation	NOUN
cblr-7808	439	20	on	on	ADP
cblr-7808	439	21	dividend	dividend	NOUN
cblr-7808	439	22	distributions	distribution	NOUN
cblr-7808	439	23	that	that	PRON
cblr-7808	439	24	could	could	AUX
cblr-7808	439	25	exacerbate	exacerbate	VERB
cblr-7808	439	26	management	management	NOUN
cblr-7808	439	27	free	free	ADJ
cblr-7808	439	28	cashflow	cashflow	ADJ
cblr-7808	439	29	problems	problem	NOUN
cblr-7808	439	30	,	,	PUNCT
cblr-7808	439	31	suggest	suggest	VERB
cblr-7808	439	32	increasing	increase	VERB
cblr-7808	439	33	managerial	managerial	ADJ
cblr-7808	439	34	accountability	accountability	NOUN
cblr-7808	439	35	,	,	PUNCT
cblr-7808	439	36	and	and	CCONJ
cblr-7808	439	37	support	support	NOUN
cblr-7808	439	38	enabling	enable	VERB
cblr-7808	439	39	hedge	hedge	NOUN
cblr-7808	439	40	funds	fund	NOUN
cblr-7808	439	41	to	to	PART
cblr-7808	439	42	engage	engage	VERB
cblr-7808	439	43	with	with	ADP
cblr-7808	439	44	targets.136	targets.136	NOUN
cblr-7808	439	45	132	132	NUM
cblr-7808	439	46	for	for	ADP
cblr-7808	439	47	a	a	DET
cblr-7808	439	48	fuller	full	ADJ
cblr-7808	439	49	discussion	discussion	NOUN
cblr-7808	439	50	of	of	ADP
cblr-7808	439	51	the	the	DET
cblr-7808	439	52	arguments	argument	NOUN
cblr-7808	439	53	about	about	ADP
cblr-7808	439	54	discipline	discipline	NOUN
cblr-7808	439	55	summarized	summarize	VERB
cblr-7808	439	56	in	in	ADP
cblr-7808	439	57	this	this	DET
cblr-7808	439	58	paragraph	paragraph	NOUN
cblr-7808	439	59	,	,	PUNCT
cblr-7808	439	60	see	see	VERB
cblr-7808	439	61	supra	supra	PROPN
cblr-7808	439	62	sections	section	NOUN
cblr-7808	439	63	ii.a	ii.a	PROPN
cblr-7808	439	64	&	&	CCONJ
cblr-7808	439	65	ii.b.4	ii.b.4	PROPN
cblr-7808	439	66	.	.	PUNCT
cblr-7808	440	1	133	133	NUM
cblr-7808	440	2	see	see	VERB
cblr-7808	440	3	supra	supra	PROPN
cblr-7808	440	4	notes	note	VERB
cblr-7808	440	5	47–48	47–48	NUM
cblr-7808	440	6	and	and	CCONJ
cblr-7808	440	7	accompanying	accompany	VERB
cblr-7808	440	8	text	text	NOUN
cblr-7808	440	9	.	.	PUNCT
cblr-7808	441	1	134	134	NUM
cblr-7808	441	2	for	for	ADP
cblr-7808	441	3	a	a	DET
cblr-7808	441	4	discussion	discussion	NOUN
cblr-7808	441	5	of	of	ADP
cblr-7808	441	6	incentives	incentive	NOUN
cblr-7808	441	7	,	,	PUNCT
cblr-7808	441	8	see	see	VERB
cblr-7808	441	9	supra	supra	PROPN
cblr-7808	441	10	section	section	PROPN
cblr-7808	441	11	ii.a	ii.a	PROPN
cblr-7808	441	12	.	.	PROPN
cblr-7808	442	1	135	135	NUM
cblr-7808	442	2	see	see	VERB
cblr-7808	442	3	barzuza	barzuza	NOUN
cblr-7808	442	4	&	&	CCONJ
cblr-7808	442	5	talley	talley	PROPN
cblr-7808	442	6	,	,	PUNCT
cblr-7808	442	7	supra	supra	PROPN
cblr-7808	442	8	note	note	PROPN
cblr-7808	442	9	6	6	NUM
cblr-7808	442	10	,	,	PUNCT
cblr-7808	442	11	at	at	ADP
cblr-7808	442	12	170–81	170–81	NUM
cblr-7808	442	13	.	.	PUNCT
cblr-7808	442	14	136	136	NUM
cblr-7808	442	15	see	see	VERB
cblr-7808	442	16	i	i	PRON
cblr-7808	442	17	d.	d.	PROPN
cblr-7808	442	18	at	at	ADP
cblr-7808	442	19	179–83	179–83	PROPN
cblr-7808	442	20	.	.	PUNCT
cblr-7808	443	1	kastiel	kastiel	PROPN
cblr-7808	443	2	(	(	PUNCT
cblr-7808	443	3	comment	comment	NOUN
cblr-7808	443	4	)	)	PUNCT
cblr-7808	443	5	1/15/2021	1/15/2021	NUM
cblr-7808	443	6	2:38	2:38	NUM
cblr-7808	443	7	pm	pm	NOUN
cblr-7808	443	8	864	864	NUM
cblr-7808	443	9	columbia	columbia	PROPN
cblr-7808	443	10	business	business	NOUN
cblr-7808	443	11	law	law	PROPN
cblr-7808	443	12	review	review	NOUN
cblr-7808	443	13	[	[	X
cblr-7808	443	14	vol	vol	NOUN
cblr-7808	443	15	.	.	PUNCT
cblr-7808	443	16	2020	2020	NUM
cblr-7808	443	17	as	as	ADP
cblr-7808	443	18	a	a	DET
cblr-7808	443	19	result	result	NOUN
cblr-7808	443	20	,	,	PUNCT
cblr-7808	443	21	they	they	PRON
cblr-7808	443	22	oppose	oppose	VERB
cblr-7808	443	23	the	the	DET
cblr-7808	443	24	reforms	reform	NOUN
cblr-7808	443	25	proposed	propose	VERB
cblr-7808	443	26	by	by	ADP
cblr-7808	443	27	the	the	DET
cblr-7808	443	28	brokaw	brokaw	PROPN
cblr-7808	443	29	act	act	PROPN
cblr-7808	443	30	as	as	ADV
cblr-7808	443	31	well	well	ADV
cblr-7808	443	32	as	as	ADP
cblr-7808	443	33	additional	additional	ADJ
cblr-7808	443	34	reforms	reform	NOUN
cblr-7808	443	35	to	to	PART
cblr-7808	443	36	curb	curb	VERB
cblr-7808	443	37	quarterly	quarterly	ADJ
cblr-7808	443	38	reporting.137	reporting.137	NOUN
cblr-7808	443	39	these	these	DET
cblr-7808	443	40	recommendations	recommendation	NOUN
cblr-7808	443	41	are	be	AUX
cblr-7808	443	42	reasonable	reasonable	ADJ
cblr-7808	443	43	and	and	CCONJ
cblr-7808	443	44	convincing	convincing	ADJ
cblr-7808	443	45	.	.	PUNCT
cblr-7808	444	1	as	as	ADV
cblr-7808	444	2	long	long	ADV
cblr-7808	444	3	as	as	SCONJ
cblr-7808	444	4	the	the	DET
cblr-7808	444	5	legal	legal	ADJ
cblr-7808	444	6	system	system	NOUN
cblr-7808	444	7	provides	provide	VERB
cblr-7808	444	8	shareholders	shareholder	NOUN
cblr-7808	444	9	with	with	ADP
cblr-7808	444	10	adequate	adequate	ADJ
cblr-7808	444	11	tools	tool	NOUN
cblr-7808	444	12	for	for	ADP
cblr-7808	444	13	disciplining	discipline	VERB
cblr-7808	444	14	underperforming	underperform	VERB
cblr-7808	444	15	ceos	ceo	NOUN
cblr-7808	444	16	and	and	CCONJ
cblr-7808	444	17	incentivizing	incentivize	VERB
cblr-7808	444	18	them	they	PRON
cblr-7808	444	19	to	to	PART
cblr-7808	444	20	take	take	VERB
cblr-7808	444	21	shareholder	shareholder	NOUN
cblr-7808	444	22	interests	interest	NOUN
cblr-7808	444	23	into	into	ADP
cblr-7808	444	24	account	account	NOUN
cblr-7808	444	25	,	,	PUNCT
cblr-7808	444	26	the	the	DET
cblr-7808	444	27	underlying	underlying	ADJ
cblr-7808	444	28	reason	reason	NOUN
cblr-7808	444	29	for	for	ADP
cblr-7808	444	30	the	the	DET
cblr-7808	444	31	underperformance	underperformance	NOUN
cblr-7808	444	32	of	of	ADP
cblr-7808	444	33	managers	manager	NOUN
cblr-7808	444	34	—	—	PUNCT
cblr-7808	444	35	whether	whether	SCONJ
cblr-7808	444	36	it	it	PRON
cblr-7808	444	37	is	be	AUX
cblr-7808	444	38	long	long	ADJ
cblr-7808	444	39	-	-	PUNCT
cblr-7808	444	40	term	term	NOUN
cblr-7808	444	41	bias	bias	NOUN
cblr-7808	444	42	,	,	PUNCT
cblr-7808	444	43	managerial	managerial	ADJ
cblr-7808	444	44	slack	slack	NOUN
cblr-7808	444	45	,	,	PUNCT
cblr-7808	444	46	or	or	CCONJ
cblr-7808	444	47	self	self	NOUN
cblr-7808	444	48	-	-	PUNCT
cblr-7808	444	49	interest	interest	NOUN
cblr-7808	444	50	—	—	PUNCT
cblr-7808	444	51	should	should	AUX
cblr-7808	444	52	not	not	PART
cblr-7808	444	53	matter.138	matter.138	VERB
cblr-7808	444	54	in	in	ADP
cblr-7808	444	55	that	that	DET
cblr-7808	444	56	sense	sense	NOUN
cblr-7808	444	57	,	,	PUNCT
cblr-7808	444	58	one	one	NUM
cblr-7808	444	59	of	of	ADP
cblr-7808	444	60	barzuza	barzuza	NOUN
cblr-7808	444	61	and	and	CCONJ
cblr-7808	444	62	talley	talley	NOUN
cblr-7808	444	63	’s	’s	PART
cblr-7808	444	64	most	most	ADV
cblr-7808	444	65	important	important	ADJ
cblr-7808	444	66	contributions	contribution	NOUN
cblr-7808	444	67	is	be	AUX
cblr-7808	444	68	to	to	PART
cblr-7808	444	69	provide	provide	VERB
cblr-7808	444	70	an	an	DET
cblr-7808	444	71	additional	additional	ADJ
cblr-7808	444	72	justification	justification	NOUN
cblr-7808	444	73	for	for	ADP
cblr-7808	444	74	reducing	reduce	VERB
cblr-7808	444	75	managerial	managerial	ADJ
cblr-7808	444	76	insulation	insulation	NOUN
cblr-7808	444	77	.	.	PUNCT
cblr-7808	445	1	my	my	PRON
cblr-7808	445	2	support	support	NOUN
cblr-7808	445	3	of	of	ADP
cblr-7808	445	4	the	the	DET
cblr-7808	445	5	authors	author	NOUN
cblr-7808	445	6	’	’	PART
cblr-7808	445	7	normative	normative	ADJ
cblr-7808	445	8	conclusions	conclusion	NOUN
cblr-7808	445	9	has	have	VERB
cblr-7808	445	10	one	one	NUM
cblr-7808	445	11	major	major	ADJ
cblr-7808	445	12	exception	exception	NOUN
cblr-7808	445	13	:	:	PUNCT
cblr-7808	445	14	their	their	PRON
cblr-7808	445	15	acceptance	acceptance	NOUN
cblr-7808	445	16	of	of	ADP
cblr-7808	445	17	the	the	DET
cblr-7808	445	18	use	use	NOUN
cblr-7808	445	19	of	of	ADP
cblr-7808	445	20	dual	dual	ADJ
cblr-7808	445	21	-	-	PUNCT
cblr-7808	445	22	class	class	NOUN
cblr-7808	445	23	stock	stock	NOUN
cblr-7808	445	24	.	.	PUNCT
cblr-7808	446	1	they	they	PRON
cblr-7808	446	2	argue	argue	VERB
cblr-7808	446	3	:	:	PUNCT
cblr-7808	446	4	[	[	X
cblr-7808	446	5	w]e	w]e	NOUN
cblr-7808	446	6	are	be	AUX
cblr-7808	446	7	reluctant	reluctant	ADJ
cblr-7808	446	8	to	to	PART
cblr-7808	446	9	advocate	advocate	VERB
cblr-7808	446	10	for	for	ADP
cblr-7808	446	11	a	a	DET
cblr-7808	446	12	blanket	blanket	NOUN
cblr-7808	446	13	prohibition	prohibition	NOUN
cblr-7808	446	14	on	on	ADP
cblr-7808	446	15	dual	dual	ADJ
cblr-7808	446	16	class	class	NOUN
cblr-7808	446	17	stock	stock	NOUN
cblr-7808	446	18	(	(	PUNCT
cblr-7808	446	19	as	as	SCONJ
cblr-7808	446	20	others	other	NOUN
cblr-7808	446	21	have	have	AUX
cblr-7808	446	22	championed	champion	VERB
cblr-7808	446	23	)	)	PUNCT
cblr-7808	446	24	.	.	PUNCT
cblr-7808	447	1	it	it	PRON
cblr-7808	447	2	is	be	AUX
cblr-7808	447	3	difficult	difficult	ADJ
cblr-7808	447	4	indeed	indeed	ADV
cblr-7808	447	5	for	for	SCONJ
cblr-7808	447	6	outsiders	outsider	NOUN
cblr-7808	447	7	to	to	PART
cblr-7808	447	8	unpack	unpack	VERB
cblr-7808	447	9	the	the	DET
cblr-7808	447	10	motivations	motivation	NOUN
cblr-7808	447	11	of	of	ADP
cblr-7808	447	12	a	a	DET
cblr-7808	447	13	founder	founder	NOUN
cblr-7808	447	14	who	who	PRON
cblr-7808	447	15	embraces	embrace	VERB
cblr-7808	447	16	a	a	DET
cblr-7808	447	17	dual	dual	ADJ
cblr-7808	447	18	class	class	NOUN
cblr-7808	447	19	structure	structure	NOUN
cblr-7808	447	20	;	;	PUNCT
cblr-7808	447	21	it	it	PRON
cblr-7808	447	22	may	may	AUX
cblr-7808	447	23	be	be	AUX
cblr-7808	447	24	due	due	ADJ
cblr-7808	447	25	to	to	ADP
cblr-7808	447	26	overconfidence	overconfidence	NOUN
cblr-7808	447	27	(	(	PUNCT
cblr-7808	447	28	and	and	CCONJ
cblr-7808	447	29	thus	thus	ADV
cblr-7808	447	30	value	value	NOUN
cblr-7808	447	31	-	-	PUNCT
cblr-7808	447	32	eroding	erode	VERB
cblr-7808	447	33	)	)	PUNCT
cblr-7808	447	34	,	,	PUNCT
cblr-7808	447	35	but	but	CCONJ
cblr-7808	447	36	it	it	PRON
cblr-7808	447	37	could	could	AUX
cblr-7808	447	38	just	just	ADV
cblr-7808	447	39	as	as	ADV
cblr-7808	447	40	easily	easily	ADV
cblr-7808	447	41	be	be	AUX
cblr-7808	447	42	due	due	ADJ
cblr-7808	447	43	to	to	ADP
cblr-7808	447	44	a	a	DET
cblr-7808	447	45	founder	founder	NOUN
cblr-7808	447	46	’s	’s	PART
cblr-7808	447	47	genuine	genuine	ADJ
cblr-7808	447	48	desire	desire	NOUN
cblr-7808	447	49	to	to	PART
cblr-7808	447	50	protect	protect	VERB
cblr-7808	447	51	a	a	DET
cblr-7808	447	52	project	project	NOUN
cblr-7808	447	53	that	that	PRON
cblr-7808	447	54	is	be	AUX
cblr-7808	447	55	inherently	inherently	ADV
cblr-7808	447	56	difficult	difficult	ADJ
cblr-7808	447	57	for	for	SCONJ
cblr-7808	447	58	outsiders	outsider	NOUN
cblr-7808	447	59	to	to	PART
cblr-7808	447	60	assess	assess	VERB
cblr-7808	447	61	.	.	PUNCT
cblr-7808	448	1	moreover	moreover	ADV
cblr-7808	448	2	,	,	PUNCT
cblr-7808	448	3	the	the	DET
cblr-7808	448	4	founder	founder	NOUN
cblr-7808	448	5	might	might	AUX
cblr-7808	448	6	simply	simply	ADV
cblr-7808	448	7	place	place	VERB
cblr-7808	448	8	idiosyncratic	idiosyncratic	ADJ
cblr-7808	448	9	value	value	NOUN
cblr-7808	448	10	on	on	ADP
cblr-7808	448	11	maintaining	maintain	VERB
cblr-7808	448	12	control	control	NOUN
cblr-7808	448	13	,	,	PUNCT
cblr-7808	448	14	and	and	CCONJ
cblr-7808	448	15	is	be	AUX
cblr-7808	448	16	willing	willing	ADJ
cblr-7808	448	17	to	to	PART
cblr-7808	448	18	incur	incur	VERB
cblr-7808	448	19	the	the	DET
cblr-7808	448	20	costs	cost	NOUN
cblr-7808	448	21	of	of	ADP
cblr-7808	448	22	doing	do	VERB
cblr-7808	448	23	so	so	ADV
cblr-7808	448	24	in	in	ADP
cblr-7808	448	25	the	the	DET
cblr-7808	448	26	form	form	NOUN
cblr-7808	448	27	of	of	ADP
cblr-7808	448	28	the	the	DET
cblr-7808	448	29	price	price	NOUN
cblr-7808	448	30	discount	discount	NOUN
cblr-7808	448	31	that	that	SCONJ
cblr-7808	448	32	outside	outside	ADJ
cblr-7808	448	33	investors	investor	NOUN
cblr-7808	448	34	will	will	AUX
cblr-7808	448	35	no	no	ADV
cblr-7808	448	36	doubt	doubt	ADV
cblr-7808	448	37	impose	impose	VERB
cblr-7808	448	38	on	on	ADP
cblr-7808	448	39	the	the	DET
cblr-7808	448	40	sale	sale	NOUN
cblr-7808	448	41	(	(	PUNCT
cblr-7808	448	42	particularly	particularly	ADV
cblr-7808	448	43	if	if	SCONJ
cblr-7808	448	44	they	they	PRON
cblr-7808	448	45	are	be	AUX
cblr-7808	448	46	short	short	ADJ
cblr-7808	448	47	-	-	PUNCT
cblr-7808	448	48	term	term	NOUN
cblr-7808	448	49	oriented	orient	VERB
cblr-7808	448	50	)	)	PUNCT
cblr-7808	448	51	.	.	PUNCT
cblr-7808	449	1	whatever	whatever	PRON
cblr-7808	449	2	their	their	PRON
cblr-7808	449	3	motivation	motivation	NOUN
cblr-7808	449	4	,	,	PUNCT
cblr-7808	449	5	dual	dual	ADJ
cblr-7808	449	6	-	-	PUNCT
cblr-7808	449	7	class	class	NOUN
cblr-7808	449	8	founders	founder	NOUN
cblr-7808	449	9	will	will	AUX
cblr-7808	449	10	internalize	internalize	VERB
cblr-7808	449	11	the	the	DET
cblr-7808	449	12	loss.139	loss.139	ADJ
cblr-7808	449	13	137	137	NUM
cblr-7808	449	14	see	see	VERB
cblr-7808	449	15	i	i	PRON
cblr-7808	449	16	d.	d.	PROPN
cblr-7808	449	17	at	at	ADP
cblr-7808	449	18	117–18	117–18	PROPN
cblr-7808	449	19	(	(	PUNCT
cblr-7808	449	20	“	"	PUNCT
cblr-7808	449	21	the	the	DET
cblr-7808	449	22	brokaw	brokaw	PROPN
cblr-7808	449	23	act	act	PROPN
cblr-7808	449	24	,	,	PUNCT
cblr-7808	449	25	for	for	ADP
cblr-7808	449	26	example	example	NOUN
cblr-7808	449	27	,	,	PUNCT
cblr-7808	449	28	which	which	PRON
cblr-7808	449	29	would	would	AUX
cblr-7808	449	30	constrain	constrain	VERB
cblr-7808	449	31	hedge	hedge	NOUN
cblr-7808	449	32	fund	fund	NOUN
cblr-7808	449	33	activists	activist	NOUN
cblr-7808	449	34	through	through	ADP
cblr-7808	449	35	a	a	DET
cblr-7808	449	36	variety	variety	NOUN
cblr-7808	449	37	of	of	ADP
cblr-7808	449	38	disclosure	disclosure	NOUN
cblr-7808	449	39	and	and	CCONJ
cblr-7808	449	40	liability	liability	NOUN
cblr-7808	449	41	measures	measure	NOUN
cblr-7808	449	42	,	,	PUNCT
cblr-7808	449	43	was	be	AUX
cblr-7808	449	44	reintroduced	reintroduce	VERB
cblr-7808	449	45	on	on	ADP
cblr-7808	449	46	august	august	PROPN
cblr-7808	449	47	31	31	NUM
cblr-7808	449	48	,	,	PUNCT
cblr-7808	449	49	2017	2017	NUM
cblr-7808	449	50	.	.	PUNCT
cblr-7808	449	51	.	.	PUNCT
cblr-7808	449	52	.	.	PUNCT
cblr-7808	450	1	.	.	PUNCT
cblr-7808	451	1	our	our	PRON
cblr-7808	451	2	analysis	analysis	NOUN
cblr-7808	451	3	counsels	counsel	NOUN
cblr-7808	451	4	some	some	DET
cblr-7808	451	5	degree	degree	NOUN
cblr-7808	451	6	of	of	ADP
cblr-7808	451	7	caution	caution	NOUN
cblr-7808	451	8	in	in	ADP
cblr-7808	451	9	pursuing	pursue	VERB
cblr-7808	451	10	these	these	DET
cblr-7808	451	11	legal	legal	ADJ
cblr-7808	451	12	and	and	CCONJ
cblr-7808	451	13	regulatory	regulatory	ADJ
cblr-7808	451	14	interventions	intervention	NOUN
cblr-7808	451	15	that	that	PRON
cblr-7808	451	16	are	be	AUX
cblr-7808	451	17	predicated	predicate	VERB
cblr-7808	451	18	largely	largely	ADV
cblr-7808	451	19	on	on	ADP
cblr-7808	451	20	insulating	insulate	VERB
cblr-7808	451	21	corporate	corporate	ADJ
cblr-7808	451	22	decision	decision	NOUN
cblr-7808	451	23	making	make	VERB
cblr-7808	451	24	from	from	ADP
cblr-7808	451	25	the	the	DET
cblr-7808	451	26	forces	force	NOUN
cblr-7808	451	27	[	[	X
cblr-7808	451	28	of	of	ADP
cblr-7808	451	29	]	]	PUNCT
cblr-7808	451	30	short	short	ADJ
cblr-7808	451	31	-	-	PUNCT
cblr-7808	451	32	termism	termism	NOUN
cblr-7808	451	33	.	.	PUNCT
cblr-7808	451	34	”	"	PUNCT
cblr-7808	451	35	)	)	PUNCT
cblr-7808	451	36	.	.	PUNCT
cblr-7808	452	1	138	138	NUM
cblr-7808	452	2	see	see	VERB
cblr-7808	452	3	supra	supra	PROPN
cblr-7808	452	4	part	part	PROPN
cblr-7808	452	5	iii	iii	PROPN
cblr-7808	452	6	.	.	PROPN
cblr-7808	452	7	139	139	NUM
cblr-7808	452	8	barzuza	barzuza	NOUN
cblr-7808	452	9	&	&	CCONJ
cblr-7808	452	10	talley	talley	PROPN
cblr-7808	452	11	,	,	PUNCT
cblr-7808	452	12	supra	supra	PROPN
cblr-7808	452	13	note	note	PROPN
cblr-7808	452	14	6	6	NUM
cblr-7808	452	15	,	,	PUNCT
cblr-7808	452	16	at	at	ADP
cblr-7808	452	17	184–85	184–85	NOUN
cblr-7808	452	18	(	(	PUNCT
cblr-7808	452	19	footnote	footnote	NOUN
cblr-7808	452	20	omitted	omit	VERB
cblr-7808	452	21	)	)	PUNCT
cblr-7808	452	22	.	.	PUNCT
cblr-7808	453	1	kastiel	kastiel	PROPN
cblr-7808	453	2	(	(	PUNCT
cblr-7808	453	3	comment	comment	NOUN
cblr-7808	453	4	)	)	PUNCT
cblr-7808	453	5	1/15/2021	1/15/2021	NUM
cblr-7808	453	6	2:38	2:38	NUM
cblr-7808	453	7	pm	pm	NOUN
cblr-7808	453	8	no	no	INTJ
cblr-7808	453	9	.	.	PUNCT
cblr-7808	454	1	3:834	3:834	NUM
cblr-7808	454	2	]	]	X
cblr-7808	454	3	long	long	ADJ
cblr-7808	454	4	-	-	PUNCT
cblr-7808	454	5	term	term	NOUN
cblr-7808	454	6	bias	bias	NOUN
cblr-7808	454	7	,	,	PUNCT
cblr-7808	454	8	incentives	incentive	NOUN
cblr-7808	454	9	,	,	PUNCT
cblr-7808	454	10	and	and	CCONJ
cblr-7808	454	11	agency	agency	NOUN
cblr-7808	454	12	costs	cost	VERB
cblr-7808	454	13	865	865	NUM
cblr-7808	454	14	if	if	SCONJ
cblr-7808	454	15	corporate	corporate	ADJ
cblr-7808	454	16	leaders	leader	NOUN
cblr-7808	454	17	can	can	AUX
cblr-7808	454	18	internalize	internalize	VERB
cblr-7808	454	19	the	the	DET
cblr-7808	454	20	costs	cost	NOUN
cblr-7808	454	21	of	of	ADP
cblr-7808	454	22	choosing	choose	VERB
cblr-7808	454	23	dual	dual	ADJ
cblr-7808	454	24	-	-	PUNCT
cblr-7808	454	25	class	class	NOUN
cblr-7808	454	26	shares	share	NOUN
cblr-7808	454	27	at	at	ADP
cblr-7808	454	28	the	the	DET
cblr-7808	454	29	ipo	ipo	NOUN
cblr-7808	454	30	stage	stage	NOUN
cblr-7808	454	31	,	,	PUNCT
cblr-7808	454	32	then	then	ADV
cblr-7808	454	33	why	why	SCONJ
cblr-7808	454	34	ca	can	AUX
cblr-7808	454	35	n’t	not	PART
cblr-7808	454	36	they	they	PRON
cblr-7808	454	37	internalize	internalize	VERB
cblr-7808	454	38	all	all	DET
cblr-7808	454	39	other	other	ADJ
cblr-7808	454	40	costs	cost	NOUN
cblr-7808	454	41	caused	cause	VERB
cblr-7808	454	42	later	later	ADV
cblr-7808	454	43	on	on	ADV
cblr-7808	454	44	by	by	ADP
cblr-7808	454	45	their	their	PRON
cblr-7808	454	46	inferior	inferior	ADJ
cblr-7808	454	47	long	long	ADJ
cblr-7808	454	48	-	-	PUNCT
cblr-7808	454	49	term	term	NOUN
cblr-7808	454	50	investment	investment	NOUN
cblr-7808	454	51	decisions	decision	NOUN
cblr-7808	454	52	?	?	PUNCT
cblr-7808	455	1	barzuza	barzuza	NOUN
cblr-7808	455	2	and	and	CCONJ
cblr-7808	455	3	talley	talley	NOUN
cblr-7808	455	4	’s	’s	PART
cblr-7808	455	5	analysis	analysis	NOUN
cblr-7808	455	6	depends	depend	VERB
cblr-7808	455	7	on	on	ADP
cblr-7808	455	8	the	the	DET
cblr-7808	455	9	assumption	assumption	NOUN
cblr-7808	455	10	that	that	SCONJ
cblr-7808	455	11	corporate	corporate	ADJ
cblr-7808	455	12	leaders	leader	NOUN
cblr-7808	455	13	are	be	AUX
cblr-7808	455	14	unable	unable	ADJ
cblr-7808	455	15	to	to	PART
cblr-7808	455	16	internalize	internalize	VERB
cblr-7808	455	17	the	the	DET
cblr-7808	455	18	costs	cost	NOUN
cblr-7808	455	19	of	of	ADP
cblr-7808	455	20	their	their	PRON
cblr-7808	455	21	long	long	ADJ
cblr-7808	455	22	-	-	PUNCT
cblr-7808	455	23	term	term	NOUN
cblr-7808	455	24	investment	investment	NOUN
cblr-7808	455	25	decisions	decision	NOUN
cblr-7808	455	26	;	;	PUNCT
cblr-7808	455	27	otherwise	otherwise	ADV
cblr-7808	455	28	,	,	PUNCT
cblr-7808	455	29	they	they	PRON
cblr-7808	455	30	would	would	AUX
cblr-7808	455	31	avoid	avoid	VERB
cblr-7808	455	32	such	such	ADJ
cblr-7808	455	33	loselose	loselose	ADJ
cblr-7808	455	34	investments	investment	NOUN
cblr-7808	455	35	(	(	PUNCT
cblr-7808	455	36	which	which	PRON
cblr-7808	455	37	would	would	AUX
cblr-7808	455	38	lead	lead	VERB
cblr-7808	455	39	both	both	PRON
cblr-7808	455	40	to	to	ADP
cblr-7808	455	41	delayed	delay	VERB
cblr-7808	455	42	realization	realization	NOUN
cblr-7808	455	43	of	of	ADP
cblr-7808	455	44	investments	investment	NOUN
cblr-7808	455	45	and	and	CCONJ
cblr-7808	455	46	inferior	inferior	ADJ
cblr-7808	455	47	returns	return	NOUN
cblr-7808	455	48	)	)	PUNCT
cblr-7808	455	49	.	.	PUNCT
cblr-7808	456	1	there	there	PRON
cblr-7808	456	2	is	be	VERB
cblr-7808	456	3	no	no	DET
cblr-7808	456	4	reason	reason	NOUN
cblr-7808	456	5	to	to	PART
cblr-7808	456	6	believe	believe	VERB
cblr-7808	456	7	that	that	SCONJ
cblr-7808	456	8	corporate	corporate	ADJ
cblr-7808	456	9	leaders	leader	NOUN
cblr-7808	456	10	would	would	AUX
cblr-7808	456	11	behave	behave	VERB
cblr-7808	456	12	differently	differently	ADV
cblr-7808	456	13	at	at	ADP
cblr-7808	456	14	the	the	DET
cblr-7808	456	15	ipo	ipo	PROPN
cblr-7808	456	16	stage.140	stage.140	PROPN
cblr-7808	456	17	most	most	ADV
cblr-7808	456	18	importantly	importantly	ADV
cblr-7808	456	19	,	,	PUNCT
cblr-7808	456	20	the	the	DET
cblr-7808	456	21	use	use	NOUN
cblr-7808	456	22	of	of	ADP
cblr-7808	456	23	dual	dual	ADJ
cblr-7808	456	24	-	-	PUNCT
cblr-7808	456	25	class	class	NOUN
cblr-7808	456	26	stock	stock	NOUN
cblr-7808	456	27	is	be	AUX
cblr-7808	456	28	likely	likely	ADJ
cblr-7808	456	29	to	to	PART
cblr-7808	456	30	aggravate	aggravate	VERB
cblr-7808	456	31	the	the	DET
cblr-7808	456	32	problem	problem	NOUN
cblr-7808	456	33	of	of	ADP
cblr-7808	456	34	long	long	ADJ
cblr-7808	456	35	-	-	PUNCT
cblr-7808	456	36	term	term	NOUN
cblr-7808	456	37	bias	bias	NOUN
cblr-7808	456	38	because	because	SCONJ
cblr-7808	456	39	it	it	PRON
cblr-7808	456	40	fully	fully	ADV
cblr-7808	456	41	insulates	insulate	VERB
cblr-7808	456	42	corporate	corporate	ADJ
cblr-7808	456	43	founders	founder	NOUN
cblr-7808	456	44	from	from	ADP
cblr-7808	456	45	market	market	NOUN
cblr-7808	456	46	forces	force	NOUN
cblr-7808	456	47	and	and	CCONJ
cblr-7808	456	48	activist	activist	ADJ
cblr-7808	456	49	hedge	hedge	NOUN
cblr-7808	456	50	funds	fund	NOUN
cblr-7808	456	51	.	.	PUNCT
cblr-7808	457	1	such	such	ADJ
cblr-7808	457	2	funds	fund	NOUN
cblr-7808	457	3	,	,	PUNCT
cblr-7808	457	4	according	accord	VERB
cblr-7808	457	5	to	to	ADP
cblr-7808	457	6	barzuza	barzuza	NOUN
cblr-7808	457	7	and	and	CCONJ
cblr-7808	457	8	talley	talley	NOUN
cblr-7808	457	9	,	,	PUNCT
cblr-7808	457	10	“	"	PUNCT
cblr-7808	457	11	may	may	AUX
cblr-7808	457	12	represent	represent	VERB
cblr-7808	457	13	an	an	DET
cblr-7808	457	14	efficient	efficient	ADJ
cblr-7808	457	15	counter	counter	ADJ
cblr-7808	457	16	-	-	ADJ
cblr-7808	457	17	ballast	ballast	ADJ
cblr-7808	457	18	against”141	against”141	ADJ
cblr-7808	457	19	managerial	managerial	ADJ
cblr-7808	457	20	long	long	ADJ
cblr-7808	457	21	-	-	PUNCT
cblr-7808	457	22	termism.142	termism.142	NOUN
cblr-7808	457	23	consequently	consequently	ADV
cblr-7808	457	24	,	,	PUNCT
cblr-7808	457	25	those	those	PRON
cblr-7808	457	26	who	who	PRON
cblr-7808	457	27	support	support	VERB
cblr-7808	457	28	legal	legal	ADJ
cblr-7808	457	29	rules	rule	NOUN
cblr-7808	457	30	that	that	PRON
cblr-7808	457	31	reduce	reduce	VERB
cblr-7808	457	32	managerial	managerial	ADJ
cblr-7808	457	33	insulation	insulation	NOUN
cblr-7808	457	34	and	and	CCONJ
cblr-7808	457	35	enable	enable	VERB
cblr-7808	457	36	the	the	DET
cblr-7808	457	37	activity	activity	NOUN
cblr-7808	457	38	of	of	ADP
cblr-7808	457	39	activist	activist	ADJ
cblr-7808	457	40	hedge	hedge	NOUN
cblr-7808	457	41	funds	fund	NOUN
cblr-7808	457	42	because	because	SCONJ
cblr-7808	457	43	they	they	PRON
cblr-7808	457	44	believe	believe	VERB
cblr-7808	457	45	that	that	SCONJ
cblr-7808	457	46	such	such	ADJ
cblr-7808	457	47	rules	rule	NOUN
cblr-7808	457	48	are	be	AUX
cblr-7808	457	49	value	value	NOUN
cblr-7808	457	50	-	-	PUNCT
cblr-7808	457	51	increasing	increase	VERB
cblr-7808	457	52	should	should	AUX
cblr-7808	457	53	also	also	ADV
cblr-7808	457	54	oppose	oppose	VERB
cblr-7808	457	55	the	the	DET
cblr-7808	457	56	use	use	NOUN
cblr-7808	457	57	of	of	ADP
cblr-7808	457	58	perpetual	perpetual	ADJ
cblr-7808	457	59	dual	dual	ADJ
cblr-7808	457	60	-	-	PUNCT
cblr-7808	457	61	class	class	NOUN
cblr-7808	457	62	stock	stock	NOUN
cblr-7808	457	63	.	.	PUNCT
cblr-7808	458	1	140	140	NUM
cblr-7808	458	2	for	for	ADP
cblr-7808	458	3	the	the	DET
cblr-7808	458	4	view	view	NOUN
cblr-7808	458	5	that	that	SCONJ
cblr-7808	458	6	the	the	DET
cblr-7808	458	7	choice	choice	NOUN
cblr-7808	458	8	of	of	ADP
cblr-7808	458	9	ipo	ipo	NOUN
cblr-7808	458	10	governance	governance	NOUN
cblr-7808	458	11	arrangements	arrangement	NOUN
cblr-7808	458	12	could	could	AUX
cblr-7808	458	13	be	be	AUX
cblr-7808	458	14	imperfect	imperfect	ADJ
cblr-7808	458	15	,	,	PUNCT
cblr-7808	458	16	see	see	VERB
cblr-7808	458	17	lucian	lucian	PROPN
cblr-7808	458	18	arye	arye	PROPN
cblr-7808	458	19	bebchuk	bebchuk	PROPN
cblr-7808	458	20	,	,	PUNCT
cblr-7808	458	21	why	why	SCONJ
cblr-7808	458	22	firms	firm	NOUN
cblr-7808	458	23	adopt	adopt	VERB
cblr-7808	458	24	antitakeover	antitakeover	ADJ
cblr-7808	458	25	arrangements	arrangement	NOUN
cblr-7808	458	26	,	,	PUNCT
cblr-7808	458	27	152	152	NUM
cblr-7808	458	28	u.	u.	PROPN
cblr-7808	458	29	pa	pa	PROPN
cblr-7808	458	30	.	.	PUNCT
cblr-7808	458	31	l.	l.	PROPN
cblr-7808	458	32	rev	rev	PROPN
cblr-7808	458	33	.	.	PROPN
cblr-7808	458	34	713	713	NUM
cblr-7808	458	35	,	,	PUNCT
cblr-7808	458	36	719	719	NUM
cblr-7808	458	37	,	,	PUNCT
cblr-7808	458	38	740–42	740–42	X
cblr-7808	458	39	(	(	PUNCT
cblr-7808	458	40	2003	2003	NUM
cblr-7808	458	41	)	)	PUNCT
cblr-7808	458	42	(	(	PUNCT
cblr-7808	458	43	discussing	discuss	VERB
cblr-7808	458	44	the	the	DET
cblr-7808	458	45	pricing	pricing	NOUN
cblr-7808	458	46	of	of	ADP
cblr-7808	458	47	governance	governance	NOUN
cblr-7808	458	48	terms	term	NOUN
cblr-7808	458	49	and	and	CCONJ
cblr-7808	458	50	managers	manager	NOUN
cblr-7808	458	51	’	’	PART
cblr-7808	458	52	perverse	perverse	ADJ
cblr-7808	458	53	incentives	incentive	NOUN
cblr-7808	458	54	at	at	ADP
cblr-7808	458	55	the	the	DET
cblr-7808	458	56	ipo	ipo	NOUN
cblr-7808	458	57	stage	stage	NOUN
cblr-7808	458	58	)	)	PUNCT
cblr-7808	458	59	;	;	PUNCT
cblr-7808	458	60	michael	michael	PROPN
cblr-7808	458	61	klausner	klausner	PROPN
cblr-7808	458	62	,	,	PUNCT
cblr-7808	458	63	fact	fact	NOUN
cblr-7808	458	64	and	and	CCONJ
cblr-7808	458	65	fiction	fiction	NOUN
cblr-7808	458	66	in	in	ADP
cblr-7808	458	67	corporate	corporate	ADJ
cblr-7808	458	68	law	law	NOUN
cblr-7808	458	69	and	and	CCONJ
cblr-7808	458	70	governance	governance	NOUN
cblr-7808	458	71	,	,	PUNCT
cblr-7808	458	72	65	65	NUM
cblr-7808	458	73	stan	stan	PROPN
cblr-7808	458	74	.	.	PUNCT
cblr-7808	459	1	l.	l.	PROPN
cblr-7808	459	2	rev	rev	PROPN
cblr-7808	459	3	.	.	PROPN
cblr-7808	459	4	1325	1325	NUM
cblr-7808	459	5	,	,	PUNCT
cblr-7808	459	6	1370	1370	NUM
cblr-7808	459	7	(	(	PUNCT
cblr-7808	459	8	2013	2013	NUM
cblr-7808	459	9	)	)	PUNCT
cblr-7808	459	10	(	(	PUNCT
cblr-7808	459	11	“	"	PUNCT
cblr-7808	459	12	doubts	doubt	NOUN
cblr-7808	459	13	have	have	AUX
cblr-7808	459	14	been	be	AUX
cblr-7808	459	15	raised	raise	VERB
cblr-7808	459	16	regarding	regard	VERB
cblr-7808	459	17	whether	whether	SCONJ
cblr-7808	459	18	pre	pre	ADJ
cblr-7808	459	19	-	-	ADJ
cblr-7808	459	20	ipo	ipo	ADJ
cblr-7808	459	21	shareholders	shareholder	NOUN
cblr-7808	459	22	bear	bear	VERB
cblr-7808	459	23	a	a	DET
cblr-7808	459	24	cost	cost	NOUN
cblr-7808	459	25	when	when	SCONJ
cblr-7808	459	26	they	they	PRON
cblr-7808	459	27	take	take	VERB
cblr-7808	459	28	companies	company	NOUN
cblr-7808	459	29	public	public	ADJ
cblr-7808	459	30	with	with	ADP
cblr-7808	459	31	staggered	staggered	ADJ
cblr-7808	459	32	boards	board	NOUN
cblr-7808	459	33	.	.	PUNCT
cblr-7808	459	34	”	"	PUNCT
cblr-7808	459	35	)	)	PUNCT
cblr-7808	459	36	.	.	PUNCT
cblr-7808	460	1	of	of	ADP
cblr-7808	460	2	course	course	NOUN
cblr-7808	460	3	,	,	PUNCT
cblr-7808	460	4	some	some	PRON
cblr-7808	460	5	might	might	AUX
cblr-7808	460	6	oppose	oppose	VERB
cblr-7808	460	7	,	,	PUNCT
cblr-7808	460	8	as	as	ADP
cblr-7808	460	9	a	a	DET
cblr-7808	460	10	matter	matter	NOUN
cblr-7808	460	11	of	of	ADP
cblr-7808	460	12	principle	principle	NOUN
cblr-7808	460	13	,	,	PUNCT
cblr-7808	460	14	any	any	DET
cblr-7808	460	15	mandatory	mandatory	ADJ
cblr-7808	460	16	limitation	limitation	NOUN
cblr-7808	460	17	on	on	ADP
cblr-7808	460	18	the	the	DET
cblr-7808	460	19	terms	term	NOUN
cblr-7808	460	20	that	that	SCONJ
cblr-7808	460	21	founders	founder	NOUN
cblr-7808	460	22	may	may	AUX
cblr-7808	460	23	offer	offer	VERB
cblr-7808	460	24	when	when	SCONJ
cblr-7808	460	25	going	go	VERB
cblr-7808	460	26	public	public	ADJ
cblr-7808	460	27	.	.	PUNCT
cblr-7808	461	1	but	but	CCONJ
cblr-7808	461	2	that	that	DET
cblr-7808	461	3	view	view	NOUN
cblr-7808	461	4	generally	generally	ADV
cblr-7808	461	5	assumes	assume	VERB
cblr-7808	461	6	a	a	DET
cblr-7808	461	7	high	high	ADJ
cblr-7808	461	8	degree	degree	NOUN
cblr-7808	461	9	of	of	ADP
cblr-7808	461	10	market	market	NOUN
cblr-7808	461	11	efficiency	efficiency	NOUN
cblr-7808	461	12	that	that	PRON
cblr-7808	461	13	should	should	AUX
cblr-7808	461	14	also	also	ADV
cblr-7808	461	15	obtain	obtain	VERB
cblr-7808	461	16	midstream	midstream	NOUN
cblr-7808	461	17	.	.	PUNCT
cblr-7808	462	1	for	for	ADP
cblr-7808	462	2	those	those	PRON
cblr-7808	462	3	who	who	PRON
cblr-7808	462	4	are	be	AUX
cblr-7808	462	5	open	open	ADJ
cblr-7808	462	6	to	to	ADP
cblr-7808	462	7	restricting	restrict	VERB
cblr-7808	462	8	or	or	CCONJ
cblr-7808	462	9	discouraging	discourage	VERB
cblr-7808	462	10	value	value	NOUN
cblr-7808	462	11	-	-	PUNCT
cblr-7808	462	12	reducing	reduce	VERB
cblr-7808	462	13	ipo	ipo	NOUN
cblr-7808	462	14	governance	governance	NOUN
cblr-7808	462	15	terms	term	NOUN
cblr-7808	462	16	,	,	PUNCT
cblr-7808	462	17	i	i	PRON
cblr-7808	462	18	explain	explain	VERB
cblr-7808	462	19	in	in	ADP
cblr-7808	462	20	this	this	DET
cblr-7808	462	21	section	section	NOUN
cblr-7808	462	22	why	why	SCONJ
cblr-7808	462	23	perpetual	perpetual	ADJ
cblr-7808	462	24	dual	dual	ADJ
cblr-7808	462	25	-	-	PUNCT
cblr-7808	462	26	class	class	NOUN
cblr-7808	462	27	structures	structure	NOUN
cblr-7808	462	28	are	be	AUX
cblr-7808	462	29	unlikely	unlikely	ADJ
cblr-7808	462	30	to	to	PART
cblr-7808	462	31	be	be	AUX
cblr-7808	462	32	value	value	NOUN
cblr-7808	462	33	enhancing	enhancing	NOUN
cblr-7808	462	34	.	.	PUNCT
cblr-7808	463	1	141	141	NUM
cblr-7808	463	2	barzuza	barzuza	NOUN
cblr-7808	463	3	&	&	CCONJ
cblr-7808	463	4	talley	talley	PROPN
cblr-7808	463	5	,	,	PUNCT
cblr-7808	463	6	supra	supra	PROPN
cblr-7808	463	7	note	note	PROPN
cblr-7808	463	8	6	6	NUM
cblr-7808	463	9	,	,	PUNCT
cblr-7808	463	10	at	at	ADP
cblr-7808	463	11	117	117	NUM
cblr-7808	463	12	.	.	PUNCT
cblr-7808	463	13	142	142	NUM
cblr-7808	463	14	see	see	VERB
cblr-7808	463	15	lucian	lucian	PROPN
cblr-7808	463	16	a.	a.	PROPN
cblr-7808	463	17	bebchuk	bebchuk	PROPN
cblr-7808	463	18	&	&	CCONJ
cblr-7808	463	19	kobi	kobi	PROPN
cblr-7808	463	20	kastiel	kastiel	PROPN
cblr-7808	463	21	,	,	PUNCT
cblr-7808	463	22	the	the	DET
cblr-7808	463	23	untenable	untenable	ADJ
cblr-7808	463	24	case	case	NOUN
cblr-7808	463	25	for	for	ADP
cblr-7808	463	26	perpetual	perpetual	ADJ
cblr-7808	463	27	dual	dual	ADJ
cblr-7808	463	28	-	-	PUNCT
cblr-7808	463	29	class	class	NOUN
cblr-7808	463	30	stock	stock	NOUN
cblr-7808	463	31	,	,	PUNCT
cblr-7808	463	32	103	103	NUM
cblr-7808	463	33	va	va	NOUN
cblr-7808	463	34	.	.	PUNCT
cblr-7808	464	1	l.	l.	PROPN
cblr-7808	464	2	rev	rev	PROPN
cblr-7808	464	3	.	.	PROPN
cblr-7808	464	4	585	585	NUM
cblr-7808	464	5	,	,	PUNCT
cblr-7808	464	6	602–03	602–03	NOUN
cblr-7808	464	7	(	(	PUNCT
cblr-7808	464	8	2017	2017	NUM
cblr-7808	464	9	)	)	PUNCT
cblr-7808	464	10	(	(	PUNCT
cblr-7808	464	11	discussing	discuss	VERB
cblr-7808	464	12	managerial	managerial	ADJ
cblr-7808	464	13	incentives	incentive	NOUN
cblr-7808	464	14	)	)	PUNCT
cblr-7808	464	15	.	.	PUNCT
cblr-7808	465	1	kastiel	kastiel	PROPN
cblr-7808	465	2	(	(	PUNCT
cblr-7808	465	3	comment	comment	NOUN
cblr-7808	465	4	)	)	PUNCT
cblr-7808	465	5	1/15/2021	1/15/2021	NUM
cblr-7808	465	6	2:38	2:38	NUM
cblr-7808	465	7	pm	pm	NOUN
cblr-7808	465	8	866	866	NUM
cblr-7808	465	9	columbia	columbia	PROPN
cblr-7808	465	10	business	business	PROPN
cblr-7808	465	11	law	law	PROPN
cblr-7808	465	12	review	review	NOUN
cblr-7808	465	13	[	[	X
cblr-7808	465	14	vol	vol	NOUN
cblr-7808	465	15	.	.	PUNCT
cblr-7808	465	16	2020	2020	NUM
cblr-7808	465	17	while	while	SCONJ
cblr-7808	465	18	corporate	corporate	ADJ
cblr-7808	465	19	founders	founder	NOUN
cblr-7808	465	20	could	could	AUX
cblr-7808	465	21	have	have	VERB
cblr-7808	465	22	a	a	DET
cblr-7808	465	23	unique	unique	ADJ
cblr-7808	465	24	vision,143	vision,143	NOUN
cblr-7808	465	25	they	they	PRON
cblr-7808	465	26	also	also	ADV
cblr-7808	465	27	could	could	AUX
cblr-7808	465	28	suffer	suffer	VERB
cblr-7808	465	29	from	from	ADP
cblr-7808	465	30	overconfidence	overconfidence	NOUN
cblr-7808	465	31	and	and	CCONJ
cblr-7808	465	32	be	be	AUX
cblr-7808	465	33	less	less	ADV
cblr-7808	465	34	likely	likely	ADJ
cblr-7808	465	35	to	to	PART
cblr-7808	465	36	listen	listen	VERB
cblr-7808	465	37	to	to	ADP
cblr-7808	465	38	others.144	others.144	NUM
cblr-7808	465	39	with	with	ADP
cblr-7808	465	40	a	a	DET
cblr-7808	465	41	perpetual	perpetual	ADJ
cblr-7808	465	42	lock	lock	NOUN
cblr-7808	465	43	on	on	ADP
cblr-7808	465	44	control	control	NOUN
cblr-7808	465	45	and	and	CCONJ
cblr-7808	465	46	limited	limited	ADJ
cblr-7808	465	47	equity	equity	NOUN
cblr-7808	465	48	stake	stake	NOUN
cblr-7808	465	49	—	—	PUNCT
cblr-7808	465	50	both	both	PRON
cblr-7808	465	51	due	due	ADJ
cblr-7808	465	52	to	to	ADP
cblr-7808	465	53	their	their	PRON
cblr-7808	465	54	company	company	NOUN
cblr-7808	465	55	’s	’s	PART
cblr-7808	465	56	dual	dual	ADJ
cblr-7808	465	57	-	-	PUNCT
cblr-7808	465	58	class	class	NOUN
cblr-7808	465	59	structure	structure	NOUN
cblr-7808	465	60	—	—	PUNCT
cblr-7808	465	61	such	such	ADJ
cblr-7808	465	62	founders	founder	NOUN
cblr-7808	465	63	would	would	AUX
cblr-7808	465	64	have	have	VERB
cblr-7808	465	65	full	full	ADJ
cblr-7808	465	66	insulation	insulation	NOUN
cblr-7808	465	67	from	from	ADP
cblr-7808	465	68	the	the	DET
cblr-7808	465	69	market	market	NOUN
cblr-7808	465	70	for	for	ADP
cblr-7808	465	71	corporate	corporate	ADJ
cblr-7808	465	72	control	control	NOUN
cblr-7808	465	73	.	.	PUNCT
cblr-7808	466	1	they	they	PRON
cblr-7808	466	2	could	could	AUX
cblr-7808	466	3	remain	remain	VERB
cblr-7808	466	4	in	in	ADP
cblr-7808	466	5	office	office	NOUN
cblr-7808	466	6	even	even	ADV
cblr-7808	466	7	if	if	SCONJ
cblr-7808	466	8	they	they	PRON
cblr-7808	466	9	pursued	pursue	VERB
cblr-7808	466	10	inferior	inferior	ADJ
cblr-7808	466	11	long	long	ADJ
cblr-7808	466	12	-	-	PUNCT
cblr-7808	466	13	term	term	NOUN
cblr-7808	466	14	projects	project	NOUN
cblr-7808	466	15	over	over	ADV
cblr-7808	466	16	and	and	CCONJ
cblr-7808	466	17	over	over	ADV
cblr-7808	466	18	.	.	PUNCT
cblr-7808	467	1	there	there	PRON
cblr-7808	467	2	would	would	AUX
cblr-7808	467	3	be	be	AUX
cblr-7808	467	4	no	no	DET
cblr-7808	467	5	institutional	institutional	ADJ
cblr-7808	467	6	brake	brake	NOUN
cblr-7808	467	7	on	on	ADP
cblr-7808	467	8	any	any	DET
cblr-7808	467	9	form	form	NOUN
cblr-7808	467	10	of	of	ADP
cblr-7808	467	11	longtermist	longtermist	NOUN
cblr-7808	467	12	overinvestment	overinvestment	ADJ
cblr-7808	467	13	by	by	ADP
cblr-7808	467	14	these	these	DET
cblr-7808	467	15	founders	founder	NOUN
cblr-7808	467	16	,	,	PUNCT
cblr-7808	467	17	and	and	CCONJ
cblr-7808	467	18	distortions	distortion	NOUN
cblr-7808	467	19	of	of	ADP
cblr-7808	467	20	their	their	PRON
cblr-7808	467	21	incentives	incentive	NOUN
cblr-7808	467	22	would	would	AUX
cblr-7808	467	23	be	be	AUX
cblr-7808	467	24	significantly	significantly	ADV
cblr-7808	467	25	more	more	ADV
cblr-7808	467	26	severe	severe	ADJ
cblr-7808	467	27	than	than	ADP
cblr-7808	467	28	comparable	comparable	ADJ
cblr-7808	467	29	distortions	distortion	NOUN
cblr-7808	467	30	in	in	ADP
cblr-7808	467	31	the	the	DET
cblr-7808	467	32	context	context	NOUN
cblr-7808	467	33	of	of	ADP
cblr-7808	467	34	widely	widely	ADV
cblr-7808	467	35	-	-	PUNCT
cblr-7808	467	36	held	hold	VERB
cblr-7808	467	37	companies.145	companies.145	NOUN
cblr-7808	467	38	in	in	ADP
cblr-7808	467	39	a	a	DET
cblr-7808	467	40	recent	recent	ADJ
cblr-7808	467	41	article	article	NOUN
cblr-7808	467	42	co	co	VERB
cblr-7808	467	43	-	-	VERB
cblr-7808	467	44	authored	author	VERB
cblr-7808	467	45	with	with	ADP
cblr-7808	467	46	lucian	lucian	PROPN
cblr-7808	467	47	bebchuk	bebchuk	PROPN
cblr-7808	467	48	,	,	PUNCT
cblr-7808	467	49	we	we	PRON
cblr-7808	467	50	analyze	analyze	VERB
cblr-7808	467	51	the	the	DET
cblr-7808	467	52	major	major	ADJ
cblr-7808	467	53	costs	cost	NOUN
cblr-7808	467	54	and	and	CCONJ
cblr-7808	467	55	risks	risk	NOUN
cblr-7808	467	56	arising	arise	VERB
cblr-7808	467	57	from	from	ADP
cblr-7808	467	58	an	an	DET
cblr-7808	467	59	extremely	extremely	ADV
cblr-7808	467	60	long	long	ADJ
cblr-7808	467	61	lock	lock	NOUN
cblr-7808	467	62	on	on	ADP
cblr-7808	467	63	control.146	control.146	NOUN
cblr-7808	467	64	changes	change	NOUN
cblr-7808	467	65	in	in	ADP
cblr-7808	467	66	the	the	DET
cblr-7808	467	67	controlled	control	VERB
cblr-7808	467	68	company	company	NOUN
cblr-7808	467	69	and	and	CCONJ
cblr-7808	467	70	its	its	PRON
cblr-7808	467	71	business	business	NOUN
cblr-7808	467	72	environment	environment	NOUN
cblr-7808	467	73	might	might	AUX
cblr-7808	467	74	well	well	ADV
cblr-7808	467	75	change	change	VERB
cblr-7808	467	76	the	the	DET
cblr-7808	467	77	type	type	NOUN
cblr-7808	467	78	of	of	ADP
cblr-7808	467	79	leader	leader	NOUN
cblr-7808	467	80	that	that	PRON
cblr-7808	467	81	would	would	AUX
cblr-7808	467	82	be	be	AUX
cblr-7808	467	83	most	most	ADV
cblr-7808	467	84	appropriate	appropriate	ADJ
cblr-7808	467	85	for	for	ADP
cblr-7808	467	86	that	that	DET
cblr-7808	467	87	company.147	company.147	NOUN
cblr-7808	467	88	for	for	ADP
cblr-7808	467	89	example	example	NOUN
cblr-7808	467	90	,	,	PUNCT
cblr-7808	467	91	technology	technology	NOUN
cblr-7808	467	92	companies	company	NOUN
cblr-7808	467	93	often	often	ADV
cblr-7808	467	94	operate	operate	VERB
cblr-7808	467	95	in	in	ADP
cblr-7808	467	96	a	a	DET
cblr-7808	467	97	dynamic	dynamic	ADJ
cblr-7808	467	98	business	business	NOUN
cblr-7808	467	99	environment	environment	NOUN
cblr-7808	467	100	with	with	ADP
cblr-7808	467	101	disruptive	disruptive	ADJ
cblr-7808	467	102	innovations	innovation	NOUN
cblr-7808	467	103	and	and	CCONJ
cblr-7808	467	104	significant	significant	ADJ
cblr-7808	467	105	changes	change	NOUN
cblr-7808	467	106	over	over	ADP
cblr-7808	467	107	time.148	time.148	NOUN
cblr-7808	467	108	in	in	ADP
cblr-7808	467	109	such	such	DET
cblr-7808	467	110	an	an	DET
cblr-7808	467	111	environment	environment	NOUN
cblr-7808	467	112	,	,	PUNCT
cblr-7808	467	113	even	even	ADV
cblr-7808	467	114	highly	highly	ADV
cblr-7808	467	115	talented	talented	ADJ
cblr-7808	467	116	and	and	CCONJ
cblr-7808	467	117	successful	successful	ADJ
cblr-7808	467	118	founders	founder	NOUN
cblr-7808	467	119	can	can	AUX
cblr-7808	467	120	lose	lose	VERB
cblr-7808	467	121	their	their	PRON
cblr-7808	467	122	“	"	PUNCT
cblr-7808	467	123	golden	golden	ADJ
cblr-7808	467	124	touch	touch	NOUN
cblr-7808	467	125	,	,	PUNCT
cblr-7808	467	126	”	"	PUNCT
cblr-7808	467	127	but	but	CCONJ
cblr-7808	467	128	not	not	PART
cblr-7808	467	129	necessarily	necessarily	ADV
cblr-7808	467	130	their	their	PRON
cblr-7808	467	131	overconfidence	overconfidence	NOUN
cblr-7808	467	132	and	and	CCONJ
cblr-7808	467	133	optimism	optimism	NOUN
cblr-7808	467	134	,	,	PUNCT
cblr-7808	467	135	after	after	ADP
cblr-7808	467	136	many	many	ADJ
cblr-7808	467	137	years	year	NOUN
cblr-7808	467	138	of	of	ADP
cblr-7808	467	139	leading	lead	VERB
cblr-7808	467	140	their	their	PRON
cblr-7808	467	141	companies.149	companies.149	NOUN
cblr-7808	467	142	in	in	ADP
cblr-7808	467	143	the	the	DET
cblr-7808	467	144	same	same	ADJ
cblr-7808	467	145	article	article	NOUN
cblr-7808	467	146	,	,	PUNCT
cblr-7808	467	147	we	we	PRON
cblr-7808	467	148	also	also	ADV
cblr-7808	467	149	show	show	VERB
cblr-7808	467	150	that	that	SCONJ
cblr-7808	467	151	controllers	controller	NOUN
cblr-7808	467	152	have	have	VERB
cblr-7808	467	153	strong	strong	ADJ
cblr-7808	467	154	incentives	incentive	NOUN
cblr-7808	467	155	to	to	PART
cblr-7808	467	156	retain	retain	VERB
cblr-7808	467	157	a	a	DET
cblr-7808	467	158	dual	dual	ADJ
cblr-7808	467	159	-	-	PUNCT
cblr-7808	467	160	class	class	NOUN
cblr-7808	467	161	structure	structure	NOUN
cblr-7808	467	162	even	even	ADV
cblr-7808	467	163	when	when	SCONJ
cblr-7808	467	164	that	that	DET
cblr-7808	467	165	structure	structure	NOUN
cblr-7808	467	166	becomes	become	VERB
cblr-7808	467	167	inefficient	inefficient	ADJ
cblr-7808	467	168	over	over	ADP
cblr-7808	467	169	time.150	time.150	NOUN
cblr-7808	467	170	therefore	therefore	ADV
cblr-7808	467	171	,	,	PUNCT
cblr-7808	467	172	even	even	ADV
cblr-7808	467	173	those	those	PRON
cblr-7808	467	174	who	who	PRON
cblr-7808	467	175	support	support	VERB
cblr-7808	467	176	the	the	DET
cblr-7808	467	177	use	use	NOUN
cblr-7808	467	178	of	of	ADP
cblr-7808	467	179	dual	dual	ADJ
cblr-7808	467	180	-	-	PUNCT
cblr-7808	467	181	class	class	NOUN
cblr-7808	467	182	stock	stock	NOUN
cblr-7808	467	183	should	should	AUX
cblr-7808	467	184	recognize	recognize	VERB
cblr-7808	467	185	the	the	DET
cblr-7808	467	186	existence	existence	NOUN
cblr-7808	467	187	of	of	ADP
cblr-7808	467	188	a	a	DET
cblr-7808	467	189	major	major	ADJ
cblr-7808	467	190	risk	risk	NOUN
cblr-7808	467	191	,	,	PUNCT
cblr-7808	467	192	likely	likely	ADV
cblr-7808	467	193	increasing	increase	VERB
cblr-7808	467	194	over	over	ADP
cblr-7808	467	195	time	time	NOUN
cblr-7808	467	196	,	,	PUNCT
cblr-7808	467	197	that	that	SCONJ
cblr-7808	467	198	143	143	NUM
cblr-7808	467	199	see	see	VERB
cblr-7808	467	200	goshen	goshen	PROPN
cblr-7808	467	201	&	&	CCONJ
cblr-7808	467	202	hamdani	hamdani	PROPN
cblr-7808	467	203	,	,	PUNCT
cblr-7808	467	204	supra	supra	ADJ
cblr-7808	467	205	note	note	NOUN
cblr-7808	467	206	125	125	NUM
cblr-7808	467	207	,	,	PUNCT
cblr-7808	467	208	at	at	ADP
cblr-7808	467	209	568	568	NUM
cblr-7808	467	210	.	.	PUNCT
cblr-7808	468	1	144	144	NUM
cblr-7808	468	2	see	see	VERB
cblr-7808	468	3	barzuza	barzuza	NOUN
cblr-7808	468	4	&	&	CCONJ
cblr-7808	468	5	talley	talley	PROPN
cblr-7808	468	6	,	,	PUNCT
cblr-7808	468	7	supra	supra	PROPN
cblr-7808	468	8	note	note	PROPN
cblr-7808	468	9	6	6	NUM
cblr-7808	468	10	,	,	PUNCT
cblr-7808	468	11	at	at	ADP
cblr-7808	468	12	138–39	138–39	PROPN
cblr-7808	468	13	(	(	PUNCT
cblr-7808	468	14	discussing	discuss	VERB
cblr-7808	468	15	overconfidence	overconfidence	NOUN
cblr-7808	468	16	among	among	ADP
cblr-7808	468	17	entrepreneurs	entrepreneur	NOUN
cblr-7808	468	18	)	)	PUNCT
cblr-7808	468	19	;	;	PUNCT
cblr-7808	468	20	camerer	camerer	PROPN
cblr-7808	468	21	&	&	CCONJ
cblr-7808	468	22	lovallo	lovallo	PROPN
cblr-7808	468	23	,	,	PUNCT
cblr-7808	468	24	supra	supra	PROPN
cblr-7808	468	25	note	note	PROPN
cblr-7808	468	26	24	24	NUM
cblr-7808	468	27	,	,	PUNCT
cblr-7808	468	28	at	at	ADP
cblr-7808	468	29	306–07	306–07	NUM
cblr-7808	468	30	.	.	PUNCT
cblr-7808	469	1	145	145	NUM
cblr-7808	469	2	see	see	VERB
cblr-7808	469	3	supra	supra	PROPN
cblr-7808	469	4	section	section	PROPN
cblr-7808	469	5	ii.b.4	ii.b.4	PROPN
cblr-7808	469	6	.	.	PUNCT
cblr-7808	470	1	146	146	NUM
cblr-7808	470	2	see	see	VERB
cblr-7808	470	3	bebchuk	bebchuk	PROPN
cblr-7808	470	4	&	&	CCONJ
cblr-7808	470	5	kastiel	kastiel	PROPN
cblr-7808	470	6	,	,	PUNCT
cblr-7808	470	7	supra	supra	PROPN
cblr-7808	470	8	note	note	PROPN
cblr-7808	470	9	142	142	NUM
cblr-7808	470	10	,	,	PUNCT
cblr-7808	470	11	at	at	ADP
cblr-7808	470	12	602–09	602–09	NUM
cblr-7808	470	13	.	.	PUNCT
cblr-7808	471	1	147	147	NUM
cblr-7808	471	2	see	see	VERB
cblr-7808	471	3	i	i	PRON
cblr-7808	471	4	d.	d.	PROPN
cblr-7808	471	5	at	at	ADP
cblr-7808	471	6	604–06	604–06	NUM
cblr-7808	471	7	.	.	PUNCT
cblr-7808	472	1	148	148	NUM
cblr-7808	472	2	see	see	VERB
cblr-7808	472	3	i	i	PRON
cblr-7808	472	4	d.	d.	PROPN
cblr-7808	472	5	at	at	ADP
cblr-7808	472	6	589	589	NUM
cblr-7808	472	7	.	.	NOUN
cblr-7808	472	8	149	149	NUM
cblr-7808	472	9	see	see	VERB
cblr-7808	472	10	i	i	PRON
cblr-7808	472	11	d.	d.	PROPN
cblr-7808	472	12	at	at	ADP
cblr-7808	472	13	604	604	NUM
cblr-7808	472	14	&	&	CCONJ
cblr-7808	472	15	n.62	n.62	NOUN
cblr-7808	472	16	,	,	PUNCT
cblr-7808	472	17	605–06	605–06	NUM
cblr-7808	472	18	(	(	PUNCT
cblr-7808	472	19	discussing	discuss	VERB
cblr-7808	472	20	this	this	DET
cblr-7808	472	21	problem	problem	NOUN
cblr-7808	472	22	,	,	PUNCT
cblr-7808	472	23	including	include	VERB
cblr-7808	472	24	in	in	ADP
cblr-7808	472	25	the	the	DET
cblr-7808	472	26	technology	technology	NOUN
cblr-7808	472	27	context	context	NOUN
cblr-7808	472	28	)	)	PUNCT
cblr-7808	472	29	.	.	PUNCT
cblr-7808	473	1	150	150	NUM
cblr-7808	473	2	see	see	VERB
cblr-7808	473	3	i	i	PRON
cblr-7808	473	4	d.	d.	PROPN
cblr-7808	473	5	at	at	ADP
cblr-7808	473	6	612–17	612–17	PROPN
cblr-7808	473	7	.	.	PUNCT
cblr-7808	474	1	kastiel	kastiel	PROPN
cblr-7808	474	2	(	(	PUNCT
cblr-7808	474	3	comment	comment	NOUN
cblr-7808	474	4	)	)	PUNCT
cblr-7808	474	5	1/15/2021	1/15/2021	NUM
cblr-7808	474	6	2:38	2:38	NUM
cblr-7808	474	7	pm	pm	NOUN
cblr-7808	474	8	no	no	INTJ
cblr-7808	474	9	.	.	PUNCT
cblr-7808	475	1	3:834	3:834	NUM
cblr-7808	475	2	]	]	X
cblr-7808	475	3	long	long	ADJ
cblr-7808	475	4	-	-	PUNCT
cblr-7808	475	5	term	term	NOUN
cblr-7808	475	6	bias	bias	NOUN
cblr-7808	475	7	,	,	PUNCT
cblr-7808	475	8	incentives	incentive	NOUN
cblr-7808	475	9	,	,	PUNCT
cblr-7808	475	10	and	and	CCONJ
cblr-7808	475	11	agency	agency	NOUN
cblr-7808	475	12	costs	cost	VERB
cblr-7808	475	13	867	867	NUM
cblr-7808	475	14	company	company	NOUN
cblr-7808	475	15	founders	founder	NOUN
cblr-7808	475	16	will	will	AUX
cblr-7808	475	17	remain	remain	VERB
cblr-7808	475	18	in	in	ADP
cblr-7808	475	19	power	power	NOUN
cblr-7808	475	20	even	even	ADV
cblr-7808	475	21	after	after	SCONJ
cblr-7808	475	22	they	they	PRON
cblr-7808	475	23	become	become	VERB
cblr-7808	475	24	value	value	NOUN
cblr-7808	475	25	-	-	PUNCT
cblr-7808	475	26	reducing	reduce	VERB
cblr-7808	475	27	leaders	leader	NOUN
cblr-7808	475	28	.	.	PUNCT
cblr-7808	476	1	furthermore	furthermore	ADV
cblr-7808	476	2	,	,	PUNCT
cblr-7808	476	3	as	as	SCONJ
cblr-7808	476	4	the	the	DET
cblr-7808	476	5	founder	founder	NOUN
cblr-7808	476	6	’s	’s	PART
cblr-7808	476	7	equity	equity	NOUN
cblr-7808	476	8	stake	stake	NOUN
cblr-7808	476	9	declines	decline	VERB
cblr-7808	476	10	due	due	ADP
cblr-7808	476	11	to	to	ADP
cblr-7808	476	12	the	the	DET
cblr-7808	476	13	use	use	NOUN
cblr-7808	476	14	of	of	ADP
cblr-7808	476	15	dual	dual	ADJ
cblr-7808	476	16	-	-	PUNCT
cblr-7808	476	17	class	class	NOUN
cblr-7808	476	18	stock	stock	NOUN
cblr-7808	476	19	,	,	PUNCT
cblr-7808	476	20	the	the	DET
cblr-7808	476	21	expected	expect	VERB
cblr-7808	476	22	governance	governance	NOUN
cblr-7808	476	23	costs	cost	NOUN
cblr-7808	476	24	go	go	VERB
cblr-7808	476	25	up	up	ADP
cblr-7808	476	26	at	at	ADP
cblr-7808	476	27	an	an	DET
cblr-7808	476	28	increasing	increase	VERB
cblr-7808	476	29	rate	rate	NOUN
cblr-7808	476	30	,	,	PUNCT
cblr-7808	476	31	and	and	CCONJ
cblr-7808	476	32	the	the	DET
cblr-7808	476	33	problem	problem	NOUN
cblr-7808	476	34	of	of	ADP
cblr-7808	476	35	long	long	ADJ
cblr-7808	476	36	-	-	PUNCT
cblr-7808	476	37	term	term	NOUN
cblr-7808	476	38	bias	bias	NOUN
cblr-7808	476	39	becomes	become	VERB
cblr-7808	476	40	more	more	ADV
cblr-7808	476	41	serious	serious	ADJ
cblr-7808	476	42	.	.	PUNCT
cblr-7808	477	1	the	the	DET
cblr-7808	477	2	founder	founder	NOUN
cblr-7808	477	3	could	could	AUX
cblr-7808	477	4	make	make	VERB
cblr-7808	477	5	inferior	inferior	ADJ
cblr-7808	477	6	longterm	longterm	ADJ
cblr-7808	477	7	acquisitions	acquisition	NOUN
cblr-7808	477	8	that	that	PRON
cblr-7808	477	9	would	would	AUX
cblr-7808	477	10	increase	increase	VERB
cblr-7808	477	11	substantially	substantially	ADV
cblr-7808	477	12	the	the	DET
cblr-7808	477	13	size	size	NOUN
cblr-7808	477	14	of	of	ADP
cblr-7808	477	15	the	the	DET
cblr-7808	477	16	company	company	NOUN
cblr-7808	477	17	while	while	SCONJ
cblr-7808	477	18	reducing	reduce	VERB
cblr-7808	477	19	the	the	DET
cblr-7808	477	20	wealth	wealth	NOUN
cblr-7808	477	21	of	of	ADP
cblr-7808	477	22	the	the	DET
cblr-7808	477	23	company	company	NOUN
cblr-7808	477	24	’s	’s	PART
cblr-7808	477	25	preacquisition	preacquisition	NOUN
cblr-7808	477	26	shareholders	shareholder	NOUN
cblr-7808	477	27	.	.	PUNCT
cblr-7808	478	1	in	in	ADP
cblr-7808	478	2	such	such	DET
cblr-7808	478	3	a	a	DET
cblr-7808	478	4	scenario	scenario	NOUN
cblr-7808	478	5	,	,	PUNCT
cblr-7808	478	6	the	the	DET
cblr-7808	478	7	costs	cost	NOUN
cblr-7808	478	8	of	of	ADP
cblr-7808	478	9	the	the	DET
cblr-7808	478	10	acquisition	acquisition	NOUN
cblr-7808	478	11	would	would	AUX
cblr-7808	478	12	be	be	AUX
cblr-7808	478	13	divided	divide	VERB
cblr-7808	478	14	among	among	ADP
cblr-7808	478	15	shareholders	shareholder	NOUN
cblr-7808	478	16	pro	pro	ADJ
cblr-7808	478	17	rata	rata	NOUN
cblr-7808	478	18	,	,	PUNCT
cblr-7808	478	19	but	but	CCONJ
cblr-7808	478	20	,	,	PUNCT
cblr-7808	478	21	by	by	ADP
cblr-7808	478	22	increasing	increase	VERB
cblr-7808	478	23	the	the	DET
cblr-7808	478	24	company	company	NOUN
cblr-7808	478	25	’s	’s	PART
cblr-7808	478	26	size	size	NOUN
cblr-7808	478	27	and	and	CCONJ
cblr-7808	478	28	importance	importance	NOUN
cblr-7808	478	29	,	,	PUNCT
cblr-7808	478	30	the	the	DET
cblr-7808	478	31	acquisitions	acquisition	NOUN
cblr-7808	478	32	could	could	AUX
cblr-7808	478	33	increase	increase	VERB
cblr-7808	478	34	the	the	DET
cblr-7808	478	35	founder	founder	NOUN
cblr-7808	478	36	’s	’s	PART
cblr-7808	478	37	influence	influence	NOUN
cblr-7808	478	38	,	,	PUNCT
cblr-7808	478	39	power	power	NOUN
cblr-7808	478	40	,	,	PUNCT
cblr-7808	478	41	and	and	CCONJ
cblr-7808	478	42	stature	stature	NOUN
cblr-7808	478	43	,	,	PUNCT
cblr-7808	478	44	thereby	thereby	ADV
cblr-7808	478	45	providing	provide	VERB
cblr-7808	478	46	them	they	PRON
cblr-7808	478	47	with	with	ADP
cblr-7808	478	48	a	a	DET
cblr-7808	478	49	significant	significant	ADJ
cblr-7808	478	50	private	private	ADJ
cblr-7808	478	51	benefit.151	benefit.151	NOUN
cblr-7808	478	52	as	as	ADP
cblr-7808	478	53	a	a	DET
cblr-7808	478	54	result	result	NOUN
cblr-7808	478	55	,	,	PUNCT
cblr-7808	478	56	there	there	PRON
cblr-7808	478	57	may	may	AUX
cblr-7808	478	58	be	be	AUX
cblr-7808	478	59	a	a	DET
cblr-7808	478	60	wide	wide	ADJ
cblr-7808	478	61	range	range	NOUN
cblr-7808	478	62	of	of	ADP
cblr-7808	478	63	acquisitions	acquisition	NOUN
cblr-7808	478	64	or	or	CCONJ
cblr-7808	478	65	investments	investment	NOUN
cblr-7808	478	66	that	that	SCONJ
cblr-7808	478	67	the	the	DET
cblr-7808	478	68	controlling	control	VERB
cblr-7808	478	69	founder	founder	NOUN
cblr-7808	478	70	would	would	AUX
cblr-7808	478	71	have	have	VERB
cblr-7808	478	72	private	private	ADJ
cblr-7808	478	73	incentives	incentive	NOUN
cblr-7808	478	74	to	to	PART
cblr-7808	478	75	pursue	pursue	VERB
cblr-7808	478	76	even	even	ADV
cblr-7808	478	77	though	though	SCONJ
cblr-7808	478	78	such	such	ADJ
cblr-7808	478	79	value	value	NOUN
cblr-7808	478	80	-	-	PUNCT
cblr-7808	478	81	reducing	reduce	VERB
cblr-7808	478	82	,	,	PUNCT
cblr-7808	478	83	long	long	ADJ
cblr-7808	478	84	-	-	PUNCT
cblr-7808	478	85	term	term	NOUN
cblr-7808	478	86	acquisitions	acquisition	NOUN
cblr-7808	478	87	would	would	AUX
cblr-7808	478	88	make	make	VERB
cblr-7808	478	89	all	all	DET
cblr-7808	478	90	other	other	ADJ
cblr-7808	478	91	shareholders	shareholder	NOUN
cblr-7808	478	92	substantially	substantially	ADV
cblr-7808	478	93	worse	bad	ADJ
cblr-7808	478	94	off.152	off.152	INTJ
cblr-7808	478	95	indeed	indeed	ADV
cblr-7808	478	96	,	,	PUNCT
cblr-7808	478	97	i	i	PRON
cblr-7808	478	98	believe	believe	VERB
cblr-7808	478	99	that	that	SCONJ
cblr-7808	478	100	barzuza	barzuza	NOUN
cblr-7808	478	101	and	and	CCONJ
cblr-7808	478	102	talley	talley	NOUN
cblr-7808	478	103	’s	’s	PART
cblr-7808	478	104	analysis	analysis	NOUN
cblr-7808	478	105	provides	provide	VERB
cblr-7808	478	106	a	a	DET
cblr-7808	478	107	strong	strong	ADJ
cblr-7808	478	108	justification	justification	NOUN
cblr-7808	478	109	for	for	ADP
cblr-7808	478	110	not	not	PART
cblr-7808	478	111	insulating	insulate	VERB
cblr-7808	478	112	smallminority	smallminority	NOUN
cblr-7808	478	113	controllers	controller	NOUN
cblr-7808	478	114	perpetually	perpetually	ADV
cblr-7808	478	115	from	from	ADP
cblr-7808	478	116	shareholder	shareholder	NOUN
cblr-7808	478	117	intervention	intervention	NOUN
cblr-7808	478	118	through	through	ADP
cblr-7808	478	119	the	the	DET
cblr-7808	478	120	use	use	NOUN
cblr-7808	478	121	of	of	ADP
cblr-7808	478	122	dual	dual	ADJ
cblr-7808	478	123	-	-	PUNCT
cblr-7808	478	124	class	class	NOUN
cblr-7808	478	125	stock	stock	NOUN
cblr-7808	478	126	.	.	PUNCT
cblr-7808	479	1	v.	v.	ADP
cblr-7808	479	2	going	go	VERB
cblr-7808	479	3	forward	forward	ADV
cblr-7808	479	4	in	in	ADP
cblr-7808	479	5	a	a	DET
cblr-7808	479	6	thought	thought	NOUN
cblr-7808	479	7	-	-	PUNCT
cblr-7808	479	8	provoking	provoking	ADJ
cblr-7808	479	9	and	and	CCONJ
cblr-7808	479	10	important	important	ADJ
cblr-7808	479	11	piece	piece	NOUN
cblr-7808	479	12	,	,	PUNCT
cblr-7808	479	13	barzuza	barzuza	NOUN
cblr-7808	479	14	and	and	CCONJ
cblr-7808	479	15	talley	talley	NOUN
cblr-7808	479	16	make	make	VERB
cblr-7808	479	17	an	an	DET
cblr-7808	479	18	important	important	ADJ
cblr-7808	479	19	contribution	contribution	NOUN
cblr-7808	479	20	to	to	ADP
cblr-7808	479	21	the	the	DET
cblr-7808	479	22	research	research	NOUN
cblr-7808	479	23	exploring	explore	VERB
cblr-7808	479	24	the	the	DET
cblr-7808	479	25	interaction	interaction	NOUN
cblr-7808	479	26	of	of	ADP
cblr-7808	479	27	corporate	corporate	ADJ
cblr-7808	479	28	law	law	NOUN
cblr-7808	479	29	and	and	CCONJ
cblr-7808	479	30	behavioral	behavioral	ADJ
cblr-7808	479	31	psychology	psychology	NOUN
cblr-7808	479	32	.	.	PUNCT
cblr-7808	480	1	they	they	PRON
cblr-7808	480	2	show	show	VERB
cblr-7808	480	3	how	how	SCONJ
cblr-7808	480	4	corporate	corporate	ADJ
cblr-7808	480	5	managers	manager	NOUN
cblr-7808	480	6	often	often	ADV
cblr-7808	480	7	fall	fall	VERB
cblr-7808	480	8	prey	prey	NOUN
cblr-7808	480	9	to	to	ADP
cblr-7808	480	10	excessive	excessive	ADJ
cblr-7808	480	11	optimism	optimism	NOUN
cblr-7808	480	12	about	about	ADP
cblr-7808	480	13	their	their	PRON
cblr-7808	480	14	own	own	ADJ
cblr-7808	480	15	long	long	ADJ
cblr-7808	480	16	-	-	PUNCT
cblr-7808	480	17	term	term	NOUN
cblr-7808	480	18	projects	project	NOUN
cblr-7808	480	19	,	,	PUNCT
cblr-7808	480	20	and	and	CCONJ
cblr-7808	480	21	they	they	PRON
cblr-7808	480	22	illustrate	illustrate	VERB
cblr-7808	480	23	this	this	DET
cblr-7808	480	24	long	long	ADJ
cblr-7808	480	25	-	-	PUNCT
cblr-7808	480	26	term	term	NOUN
cblr-7808	480	27	bias	bias	NOUN
cblr-7808	480	28	using	use	VERB
cblr-7808	480	29	case	case	NOUN
cblr-7808	480	30	studies	study	NOUN
cblr-7808	480	31	from	from	ADP
cblr-7808	480	32	three	three	NUM
cblr-7808	480	33	prominent	prominent	ADJ
cblr-7808	480	34	companies	company	NOUN
cblr-7808	480	35	.	.	PUNCT
cblr-7808	481	1	it	it	PRON
cblr-7808	481	2	is	be	AUX
cblr-7808	481	3	certainly	certainly	ADV
cblr-7808	481	4	required	require	VERB
cblr-7808	481	5	reading	reading	NOUN
cblr-7808	481	6	in	in	ADP
cblr-7808	481	7	this	this	DET
cblr-7808	481	8	field	field	NOUN
cblr-7808	481	9	,	,	PUNCT
cblr-7808	481	10	providing	provide	VERB
cblr-7808	481	11	an	an	DET
cblr-7808	481	12	additional	additional	ADJ
cblr-7808	481	13	important	important	ADJ
cblr-7808	481	14	justification	justification	NOUN
cblr-7808	481	15	for	for	ADP
cblr-7808	481	16	policymakers	policymaker	NOUN
cblr-7808	481	17	and	and	CCONJ
cblr-7808	481	18	legal	legal	ADJ
cblr-7808	481	19	scholars	scholar	NOUN
cblr-7808	481	20	not	not	PART
cblr-7808	481	21	to	to	PART
cblr-7808	481	22	embrace	embrace	VERB
cblr-7808	481	23	reforms	reform	NOUN
cblr-7808	481	24	that	that	SCONJ
cblr-7808	481	25	151	151	NUM
cblr-7808	481	26	for	for	ADP
cblr-7808	481	27	a	a	DET
cblr-7808	481	28	fuller	full	ADJ
cblr-7808	481	29	discussion	discussion	NOUN
cblr-7808	481	30	of	of	ADP
cblr-7808	481	31	this	this	DET
cblr-7808	481	32	problem	problem	NOUN
cblr-7808	481	33	,	,	PUNCT
cblr-7808	481	34	see	see	VERB
cblr-7808	481	35	lucian	lucian	PROPN
cblr-7808	481	36	a.	a.	PROPN
cblr-7808	481	37	bebchuk	bebchuk	PROPN
cblr-7808	481	38	&	&	CCONJ
cblr-7808	481	39	kobi	kobi	PROPN
cblr-7808	481	40	kastiel	kastiel	PROPN
cblr-7808	481	41	,	,	PUNCT
cblr-7808	481	42	the	the	DET
cblr-7808	481	43	perils	peril	NOUN
cblr-7808	481	44	of	of	ADP
cblr-7808	481	45	small	small	ADJ
cblr-7808	481	46	-	-	PUNCT
cblr-7808	481	47	minority	minority	NOUN
cblr-7808	481	48	controllers	controller	NOUN
cblr-7808	481	49	,	,	PUNCT
cblr-7808	481	50	107	107	NUM
cblr-7808	481	51	geo	geo	PROPN
cblr-7808	481	52	.	.	PUNCT
cblr-7808	481	53	l.j	l.j	PROPN
cblr-7808	481	54	.	.	PROPN
cblr-7808	481	55	1453	1453	NUM
cblr-7808	481	56	,	,	PUNCT
cblr-7808	481	57	1465–71	1465–71	NOUN
cblr-7808	481	58	(	(	PUNCT
cblr-7808	481	59	2019	2019	NUM
cblr-7808	481	60	)	)	PUNCT
cblr-7808	481	61	(	(	PUNCT
cblr-7808	481	62	discussing	discuss	VERB
cblr-7808	481	63	such	such	ADJ
cblr-7808	481	64	controller	controller	NOUN
cblr-7808	481	65	strategies	strategy	NOUN
cblr-7808	481	66	)	)	PUNCT
cblr-7808	481	67	.	.	PUNCT
cblr-7808	482	1	152	152	NUM
cblr-7808	483	1	i	i	PRON
cblr-7808	483	2	d.	d.	NOUN
cblr-7808	483	3	at	at	ADP
cblr-7808	483	4	1469–71	1469–71	NOUN
cblr-7808	483	5	(	(	PUNCT
cblr-7808	483	6	discussing	discuss	VERB
cblr-7808	483	7	such	such	ADJ
cblr-7808	483	8	controller	controller	NOUN
cblr-7808	483	9	strategies	strategy	NOUN
cblr-7808	483	10	)	)	PUNCT
cblr-7808	483	11	.	.	PUNCT
cblr-7808	484	1	kastiel	kastiel	PROPN
cblr-7808	484	2	(	(	PUNCT
cblr-7808	484	3	comment	comment	NOUN
cblr-7808	484	4	)	)	PUNCT
cblr-7808	484	5	1/15/2021	1/15/2021	NUM
cblr-7808	484	6	2:38	2:38	NUM
cblr-7808	484	7	pm	pm	NOUN
cblr-7808	484	8	868	868	NUM
cblr-7808	484	9	columbia	columbia	PROPN
cblr-7808	484	10	business	business	NOUN
cblr-7808	484	11	law	law	NOUN
cblr-7808	484	12	review	review	NOUN
cblr-7808	484	13	[	[	X
cblr-7808	484	14	vol	vol	NOUN
cblr-7808	484	15	.	.	PUNCT
cblr-7808	484	16	2020	2020	NUM
cblr-7808	484	17	increase	increase	VERB
cblr-7808	484	18	managerial	managerial	ADJ
cblr-7808	484	19	insulation	insulation	NOUN
cblr-7808	484	20	and	and	CCONJ
cblr-7808	484	21	focus	focus	VERB
cblr-7808	484	22	mostly	mostly	ADV
cblr-7808	484	23	on	on	ADP
cblr-7808	484	24	shortterm	shortterm	PROPN
cblr-7808	484	25	bias	bias	NOUN
cblr-7808	484	26	.	.	PUNCT
cblr-7808	485	1	this	this	DET
cblr-7808	485	2	comment	comment	NOUN
cblr-7808	485	3	argues	argue	VERB
cblr-7808	485	4	that	that	SCONJ
cblr-7808	485	5	the	the	DET
cblr-7808	485	6	presence	presence	NOUN
cblr-7808	485	7	of	of	ADP
cblr-7808	485	8	proper	proper	ADJ
cblr-7808	485	9	incentives	incentive	NOUN
cblr-7808	485	10	likely	likely	ADV
cblr-7808	485	11	will	will	AUX
cblr-7808	485	12	elicit	elicit	VERB
cblr-7808	485	13	less	less	ADV
cblr-7808	485	14	biased	biased	ADJ
cblr-7808	485	15	and	and	CCONJ
cblr-7808	485	16	more	more	ADV
cblr-7808	485	17	accurate	accurate	ADJ
cblr-7808	485	18	judgments	judgment	NOUN
cblr-7808	485	19	.	.	PUNCT
cblr-7808	486	1	in	in	ADP
cblr-7808	486	2	particular	particular	ADJ
cblr-7808	486	3	,	,	PUNCT
cblr-7808	486	4	the	the	DET
cblr-7808	486	5	potentially	potentially	ADV
cblr-7808	486	6	adverse	adverse	ADJ
cblr-7808	486	7	effects	effect	NOUN
cblr-7808	486	8	of	of	ADP
cblr-7808	486	9	long	long	ADJ
cblr-7808	486	10	-	-	PUNCT
cblr-7808	486	11	term	term	NOUN
cblr-7808	486	12	biases	bias	NOUN
cblr-7808	486	13	on	on	ADP
cblr-7808	486	14	executive	executive	ADJ
cblr-7808	486	15	compensation	compensation	NOUN
cblr-7808	486	16	,	,	PUNCT
cblr-7808	486	17	company	company	NOUN
cblr-7808	486	18	share	share	NOUN
cblr-7808	486	19	price	price	NOUN
cblr-7808	486	20	,	,	PUNCT
cblr-7808	486	21	and	and	CCONJ
cblr-7808	486	22	ceo	ceo	NOUN
cblr-7808	486	23	tenure	tenure	NOUN
cblr-7808	486	24	provide	provide	VERB
cblr-7808	486	25	most	most	ADJ
cblr-7808	486	26	managers	manager	NOUN
cblr-7808	486	27	with	with	ADP
cblr-7808	486	28	incentives	incentive	NOUN
cblr-7808	486	29	to	to	PART
cblr-7808	486	30	be	be	AUX
cblr-7808	486	31	less	less	ADV
cblr-7808	486	32	optimistic	optimistic	ADJ
cblr-7808	486	33	and	and	CCONJ
cblr-7808	486	34	to	to	PART
cblr-7808	486	35	avoid	avoid	VERB
cblr-7808	486	36	inferior	inferior	ADJ
cblr-7808	486	37	long	long	ADJ
cblr-7808	486	38	-	-	PUNCT
cblr-7808	486	39	term	term	NOUN
cblr-7808	486	40	investments	investment	NOUN
cblr-7808	486	41	in	in	ADP
cblr-7808	486	42	the	the	DET
cblr-7808	486	43	first	first	ADJ
cblr-7808	486	44	place	place	NOUN
cblr-7808	486	45	.	.	PUNCT
cblr-7808	487	1	i	i	PRON
cblr-7808	487	2	also	also	ADV
cblr-7808	487	3	question	question	VERB
cblr-7808	487	4	whether	whether	SCONJ
cblr-7808	487	5	barzuza	barzuza	NOUN
cblr-7808	487	6	and	and	CCONJ
cblr-7808	487	7	talley	talley	NOUN
cblr-7808	487	8	’s	’s	PART
cblr-7808	487	9	theory	theory	NOUN
cblr-7808	487	10	is	be	AUX
cblr-7808	487	11	empirically	empirically	ADV
cblr-7808	487	12	testable	testable	ADJ
cblr-7808	487	13	given	give	VERB
cblr-7808	487	14	the	the	DET
cblr-7808	487	15	difficulties	difficulty	NOUN
cblr-7808	487	16	in	in	ADP
cblr-7808	487	17	distinguishing	distinguish	VERB
cblr-7808	487	18	among	among	ADP
cblr-7808	487	19	long	long	ADJ
cblr-7808	487	20	-	-	PUNCT
cblr-7808	487	21	term	term	NOUN
cblr-7808	487	22	bias	bias	NOUN
cblr-7808	487	23	,	,	PUNCT
cblr-7808	487	24	traditional	traditional	ADJ
cblr-7808	487	25	agency	agency	NOUN
cblr-7808	487	26	theories	theory	NOUN
cblr-7808	487	27	of	of	ADP
cblr-7808	487	28	empire	empire	NOUN
cblr-7808	487	29	building	building	NOUN
cblr-7808	487	30	and	and	CCONJ
cblr-7808	487	31	pet	pet	ADJ
cblr-7808	487	32	projects	project	NOUN
cblr-7808	487	33	,	,	PUNCT
cblr-7808	487	34	and	and	CCONJ
cblr-7808	487	35	mere	mere	ADJ
cblr-7808	487	36	incompetence	incompetence	NOUN
cblr-7808	487	37	.	.	PUNCT
cblr-7808	488	1	this	this	PRON
cblr-7808	488	2	helps	help	VERB
cblr-7808	488	3	explain	explain	VERB
cblr-7808	488	4	why	why	SCONJ
cblr-7808	488	5	the	the	DET
cblr-7808	488	6	cure	cure	NOUN
cblr-7808	488	7	for	for	ADP
cblr-7808	488	8	both	both	PRON
cblr-7808	488	9	long	long	ADJ
cblr-7808	488	10	-	-	PUNCT
cblr-7808	488	11	term	term	NOUN
cblr-7808	488	12	bias	bias	NOUN
cblr-7808	488	13	and	and	CCONJ
cblr-7808	488	14	agency	agency	NOUN
cblr-7808	488	15	costs	cost	NOUN
cblr-7808	488	16	is	be	AUX
cblr-7808	488	17	similar	similar	ADJ
cblr-7808	488	18	:	:	PUNCT
cblr-7808	488	19	reducing	reduce	VERB
cblr-7808	488	20	the	the	DET
cblr-7808	488	21	relative	relative	ADJ
cblr-7808	488	22	insulation	insulation	NOUN
cblr-7808	488	23	of	of	ADP
cblr-7808	488	24	the	the	DET
cblr-7808	488	25	board	board	NOUN
cblr-7808	488	26	from	from	ADP
cblr-7808	488	27	shareholders	shareholder	NOUN
cblr-7808	488	28	’	'	PUNCT
cblr-7808	488	29	disciplinary	disciplinary	ADJ
cblr-7808	488	30	power	power	NOUN
cblr-7808	488	31	.	.	PUNCT
cblr-7808	489	1	finally	finally	ADV
cblr-7808	489	2	,	,	PUNCT
cblr-7808	489	3	i	i	PRON
cblr-7808	489	4	express	express	VERB
cblr-7808	489	5	strong	strong	ADJ
cblr-7808	489	6	support	support	NOUN
cblr-7808	489	7	for	for	ADP
cblr-7808	489	8	most	most	ADJ
cblr-7808	489	9	of	of	ADP
cblr-7808	489	10	the	the	DET
cblr-7808	489	11	normative	normative	ADJ
cblr-7808	489	12	conclusions	conclusion	NOUN
cblr-7808	489	13	of	of	ADP
cblr-7808	489	14	the	the	DET
cblr-7808	489	15	authors	author	NOUN
cblr-7808	489	16	,	,	PUNCT
cblr-7808	489	17	with	with	ADP
cblr-7808	489	18	one	one	NUM
cblr-7808	489	19	important	important	ADJ
cblr-7808	489	20	exception	exception	NOUN
cblr-7808	489	21	:	:	PUNCT
cblr-7808	489	22	their	their	PRON
cblr-7808	489	23	acceptance	acceptance	NOUN
cblr-7808	489	24	of	of	ADP
cblr-7808	489	25	the	the	DET
cblr-7808	489	26	use	use	NOUN
cblr-7808	489	27	of	of	ADP
cblr-7808	489	28	dual	dual	ADJ
cblr-7808	489	29	-	-	PUNCT
cblr-7808	489	30	class	class	NOUN
cblr-7808	489	31	stock	stock	NOUN
cblr-7808	489	32	.	.	PUNCT
cblr-7808	490	1	with	with	ADP
cblr-7808	490	2	a	a	DET
cblr-7808	490	3	perpetual	perpetual	ADJ
cblr-7808	490	4	lock	lock	NOUN
cblr-7808	490	5	on	on	ADP
cblr-7808	490	6	control	control	NOUN
cblr-7808	490	7	and	and	CCONJ
cblr-7808	490	8	a	a	DET
cblr-7808	490	9	tiny	tiny	ADJ
cblr-7808	490	10	equity	equity	NOUN
cblr-7808	490	11	stake	stake	NOUN
cblr-7808	490	12	,	,	PUNCT
cblr-7808	490	13	corporate	corporate	ADJ
cblr-7808	490	14	leaders	leader	NOUN
cblr-7808	490	15	could	could	AUX
cblr-7808	490	16	remain	remain	VERB
cblr-7808	490	17	in	in	ADP
cblr-7808	490	18	office	office	NOUN
cblr-7808	490	19	even	even	ADV
cblr-7808	490	20	if	if	SCONJ
cblr-7808	490	21	they	they	PRON
cblr-7808	490	22	pursued	pursue	VERB
cblr-7808	490	23	inferior	inferior	ADJ
cblr-7808	490	24	long	long	ADJ
cblr-7808	490	25	-	-	PUNCT
cblr-7808	490	26	term	term	NOUN
cblr-7808	490	27	projects	project	NOUN
cblr-7808	490	28	over	over	ADV
cblr-7808	490	29	and	and	CCONJ
cblr-7808	490	30	over	over	ADV
cblr-7808	490	31	.	.	PUNCT
cblr-7808	491	1	all	all	PRON
cblr-7808	491	2	of	of	ADP
cblr-7808	491	3	this	this	PRON
cblr-7808	491	4	suggests	suggest	VERB
cblr-7808	491	5	that	that	SCONJ
cblr-7808	491	6	the	the	DET
cblr-7808	491	7	theory	theory	NOUN
cblr-7808	491	8	presented	present	VERB
cblr-7808	491	9	by	by	ADP
cblr-7808	491	10	barzuza	barzuza	NOUN
cblr-7808	491	11	and	and	CCONJ
cblr-7808	491	12	talley	talley	NOUN
cblr-7808	491	13	opens	open	VERB
cblr-7808	491	14	some	some	DET
cblr-7808	491	15	interesting	interesting	ADJ
cblr-7808	491	16	avenues	avenue	NOUN
cblr-7808	491	17	for	for	ADP
cblr-7808	491	18	future	future	ADJ
cblr-7808	491	19	research	research	NOUN
cblr-7808	491	20	.	.	PUNCT
cblr-7808	492	1	the	the	DET
cblr-7808	492	2	first	first	ADJ
cblr-7808	492	3	avenue	avenue	NOUN
cblr-7808	492	4	relates	relate	VERB
cblr-7808	492	5	to	to	ADP
cblr-7808	492	6	the	the	DET
cblr-7808	492	7	magnitude	magnitude	NOUN
cblr-7808	492	8	of	of	ADP
cblr-7808	492	9	the	the	DET
cblr-7808	492	10	problem	problem	NOUN
cblr-7808	492	11	of	of	ADP
cblr-7808	492	12	long	long	ADJ
cblr-7808	492	13	-	-	PUNCT
cblr-7808	492	14	term	term	NOUN
cblr-7808	492	15	bias	bias	NOUN
cblr-7808	492	16	.	.	PUNCT
cblr-7808	493	1	how	how	SCONJ
cblr-7808	493	2	prevalent	prevalent	ADJ
cblr-7808	493	3	is	be	AUX
cblr-7808	493	4	long	long	ADJ
cblr-7808	493	5	-	-	PUNCT
cblr-7808	493	6	term	term	NOUN
cblr-7808	493	7	bias	bias	NOUN
cblr-7808	493	8	among	among	ADP
cblr-7808	493	9	ceos	ceos	NOUN
cblr-7808	493	10	?	?	PUNCT
cblr-7808	494	1	to	to	ADP
cblr-7808	494	2	what	what	DET
cblr-7808	494	3	extent	extent	NOUN
cblr-7808	494	4	could	could	AUX
cblr-7808	494	5	various	various	ADJ
cblr-7808	494	6	financial	financial	ADJ
cblr-7808	494	7	incentives	incentive	NOUN
cblr-7808	494	8	mitigate	mitigate	VERB
cblr-7808	494	9	it	it	PRON
cblr-7808	494	10	?	?	PUNCT
cblr-7808	495	1	a	a	DET
cblr-7808	495	2	second	second	ADJ
cblr-7808	495	3	avenue	avenue	NOUN
cblr-7808	495	4	of	of	ADP
cblr-7808	495	5	research	research	NOUN
cblr-7808	495	6	would	would	AUX
cblr-7808	495	7	explore	explore	VERB
cblr-7808	495	8	which	which	DET
cblr-7808	495	9	types	type	NOUN
cblr-7808	495	10	of	of	ADP
cblr-7808	495	11	managers	manager	NOUN
cblr-7808	495	12	are	be	AUX
cblr-7808	495	13	most	most	ADV
cblr-7808	495	14	likely	likely	ADJ
cblr-7808	495	15	to	to	PART
cblr-7808	495	16	be	be	AUX
cblr-7808	495	17	subject	subject	ADJ
cblr-7808	495	18	to	to	ADP
cblr-7808	495	19	long	long	ADJ
cblr-7808	495	20	-	-	PUNCT
cblr-7808	495	21	term	term	NOUN
cblr-7808	495	22	bias	bias	NOUN
cblr-7808	495	23	.	.	PUNCT
cblr-7808	496	1	for	for	ADP
cblr-7808	496	2	this	this	DET
cblr-7808	496	3	purpose	purpose	NOUN
cblr-7808	496	4	,	,	PUNCT
cblr-7808	496	5	it	it	PRON
cblr-7808	496	6	would	would	AUX
cblr-7808	496	7	be	be	AUX
cblr-7808	496	8	interesting	interesting	ADJ
cblr-7808	496	9	to	to	PART
cblr-7808	496	10	compare	compare	VERB
cblr-7808	496	11	founders	founder	NOUN
cblr-7808	496	12	with	with	ADP
cblr-7808	496	13	professional	professional	ADJ
cblr-7808	496	14	ceos	ceos	NOUN
cblr-7808	496	15	and	and	CCONJ
cblr-7808	496	16	to	to	PART
cblr-7808	496	17	explore	explore	VERB
cblr-7808	496	18	other	other	ADJ
cblr-7808	496	19	factors	factor	NOUN
cblr-7808	496	20	that	that	PRON
cblr-7808	496	21	could	could	AUX
cblr-7808	496	22	affect	affect	VERB
cblr-7808	496	23	a	a	DET
cblr-7808	496	24	ceo	ceo	NOUN
cblr-7808	496	25	’s	’s	PART
cblr-7808	496	26	time	time	NOUN
cblr-7808	496	27	biases	bias	NOUN
cblr-7808	496	28	,	,	PUNCT
cblr-7808	496	29	such	such	ADJ
cblr-7808	496	30	as	as	ADP
cblr-7808	496	31	the	the	DET
cblr-7808	496	32	length	length	NOUN
cblr-7808	496	33	of	of	ADP
cblr-7808	496	34	the	the	DET
cblr-7808	496	35	ceo	ceo	NOUN
cblr-7808	496	36	’s	’s	PART
cblr-7808	496	37	tenure	tenure	NOUN
cblr-7808	496	38	and	and	CCONJ
cblr-7808	496	39	the	the	DET
cblr-7808	496	40	equity	equity	NOUN
cblr-7808	496	41	stake	stake	NOUN
cblr-7808	496	42	of	of	ADP
cblr-7808	496	43	the	the	DET
cblr-7808	496	44	ceo	ceo	NOUN
cblr-7808	496	45	.	.	PUNCT
cblr-7808	497	1	it	it	PRON
cblr-7808	497	2	also	also	ADV
cblr-7808	497	3	would	would	AUX
cblr-7808	497	4	be	be	AUX
cblr-7808	497	5	interesting	interesting	ADJ
cblr-7808	497	6	to	to	PART
cblr-7808	497	7	examine	examine	VERB
cblr-7808	497	8	whether	whether	SCONJ
cblr-7808	497	9	long	long	ADJ
cblr-7808	497	10	-	-	PUNCT
cblr-7808	497	11	term	term	NOUN
cblr-7808	497	12	bias	bias	NOUN
cblr-7808	497	13	is	be	AUX
cblr-7808	497	14	more	more	ADV
cblr-7808	497	15	severe	severe	ADJ
cblr-7808	497	16	in	in	ADP
cblr-7808	497	17	the	the	DET
cblr-7808	497	18	case	case	NOUN
cblr-7808	497	19	of	of	ADP
cblr-7808	497	20	companies	company	NOUN
cblr-7808	497	21	near	near	ADP
cblr-7808	497	22	the	the	DET
cblr-7808	497	23	ends	end	NOUN
cblr-7808	497	24	of	of	ADP
cblr-7808	497	25	their	their	PRON
cblr-7808	497	26	life	life	NOUN
cblr-7808	497	27	-	-	PUNCT
cblr-7808	497	28	cycles	cycle	NOUN
cblr-7808	497	29	.	.	PUNCT
cblr-7808	498	1	one	one	PRON
cblr-7808	498	2	would	would	AUX
cblr-7808	498	3	assume	assume	VERB
cblr-7808	498	4	that	that	SCONJ
cblr-7808	498	5	managers	manager	NOUN
cblr-7808	498	6	of	of	ADP
cblr-7808	498	7	these	these	DET
cblr-7808	498	8	companies	company	NOUN
cblr-7808	498	9	—	—	PUNCT
cblr-7808	498	10	such	such	ADJ
cblr-7808	498	11	as	as	ADP
cblr-7808	498	12	the	the	DET
cblr-7808	498	13	ceos	ceos	NOUN
cblr-7808	498	14	of	of	ADP
cblr-7808	498	15	yahoo	yahoo	PROPN
cblr-7808	498	16	or	or	CCONJ
cblr-7808	498	17	aol	aol	NOUN
cblr-7808	498	18	—	—	PUNCT
cblr-7808	498	19	would	would	AUX
cblr-7808	498	20	be	be	AUX
cblr-7808	498	21	unwilling	unwilling	ADJ
cblr-7808	498	22	to	to	PART
cblr-7808	498	23	admit	admit	VERB
cblr-7808	498	24	that	that	SCONJ
cblr-7808	498	25	they	they	PRON
cblr-7808	498	26	failed	fail	VERB
cblr-7808	498	27	to	to	PART
cblr-7808	498	28	turn	turn	VERB
cblr-7808	498	29	the	the	DET
cblr-7808	498	30	company	company	NOUN
cblr-7808	498	31	around	around	ADV
cblr-7808	498	32	and	and	CCONJ
cblr-7808	498	33	then	then	ADV
cblr-7808	498	34	suffer	suffer	VERB
cblr-7808	498	35	the	the	DET
cblr-7808	498	36	kastiel	kastiel	NOUN
cblr-7808	498	37	(	(	PUNCT
cblr-7808	498	38	comment	comment	NOUN
cblr-7808	498	39	)	)	PUNCT
cblr-7808	498	40	1/15/2021	1/15/2021	NUM
cblr-7808	498	41	2:38	2:38	NUM
cblr-7808	498	42	pm	pm	NOUN
cblr-7808	498	43	no	no	INTJ
cblr-7808	498	44	.	.	PUNCT
cblr-7808	499	1	3:834	3:834	NUM
cblr-7808	499	2	]	]	X
cblr-7808	499	3	long	long	ADJ
cblr-7808	499	4	-	-	PUNCT
cblr-7808	499	5	term	term	NOUN
cblr-7808	499	6	bias	bias	NOUN
cblr-7808	499	7	,	,	PUNCT
cblr-7808	499	8	incentives	incentive	NOUN
cblr-7808	499	9	,	,	PUNCT
cblr-7808	499	10	and	and	CCONJ
cblr-7808	499	11	agency	agency	NOUN
cblr-7808	499	12	costs	cost	VERB
cblr-7808	499	13	869	869	NUM
cblr-7808	499	14	reputational	reputational	ADJ
cblr-7808	499	15	effects	effect	NOUN
cblr-7808	499	16	associated	associate	VERB
cblr-7808	499	17	with	with	ADP
cblr-7808	499	18	that	that	DET
cblr-7808	499	19	business	business	NOUN
cblr-7808	499	20	failure	failure	NOUN
cblr-7808	499	21	.	.	PUNCT
cblr-7808	500	1	thus	thus	ADV
cblr-7808	500	2	,	,	PUNCT
cblr-7808	500	3	they	they	PRON
cblr-7808	500	4	may	may	AUX
cblr-7808	500	5	be	be	AUX
cblr-7808	500	6	likely	likely	ADJ
cblr-7808	500	7	to	to	PART
cblr-7808	500	8	keep	keep	VERB
cblr-7808	500	9	making	make	VERB
cblr-7808	500	10	inferior	inferior	ADJ
cblr-7808	500	11	investments	investment	NOUN
cblr-7808	500	12	rather	rather	ADV
cblr-7808	500	13	than	than	ADP
cblr-7808	500	14	dissolve	dissolve	VERB
cblr-7808	500	15	the	the	DET
cblr-7808	500	16	company	company	NOUN
cblr-7808	500	17	.	.	PUNCT
cblr-7808	501	1	exploring	explore	VERB
cblr-7808	501	2	the	the	DET
cblr-7808	501	3	factors	factor	NOUN
cblr-7808	501	4	that	that	PRON
cblr-7808	501	5	would	would	AUX
cblr-7808	501	6	help	help	VERB
cblr-7808	501	7	investors	investor	NOUN
cblr-7808	501	8	and	and	CCONJ
cblr-7808	501	9	boards	board	NOUN
cblr-7808	501	10	determine	determine	VERB
cblr-7808	501	11	ex	ex	PRON
cblr-7808	501	12	ante	ante	NOUN
cblr-7808	501	13	which	which	DET
cblr-7808	501	14	ceos	ceos	NOUN
cblr-7808	501	15	are	be	AUX
cblr-7808	501	16	more	more	ADV
cblr-7808	501	17	likely	likely	ADJ
cblr-7808	501	18	to	to	PART
cblr-7808	501	19	be	be	AUX
cblr-7808	501	20	prone	prone	ADJ
cblr-7808	501	21	to	to	ADP
cblr-7808	501	22	long	long	ADJ
cblr-7808	501	23	-	-	PUNCT
cblr-7808	501	24	term	term	NOUN
cblr-7808	501	25	bias	bias	NOUN
cblr-7808	501	26	would	would	AUX
cblr-7808	501	27	also	also	ADV
cblr-7808	501	28	enable	enable	VERB
cblr-7808	501	29	them	they	PRON
cblr-7808	501	30	to	to	PART
cblr-7808	501	31	adopt	adopt	VERB
cblr-7808	501	32	governance	governance	NOUN
cblr-7808	501	33	measures	measure	NOUN
cblr-7808	501	34	that	that	PRON
cblr-7808	501	35	could	could	AUX
cblr-7808	501	36	mitigate	mitigate	VERB
cblr-7808	501	37	this	this	DET
cblr-7808	501	38	bias	bias	NOUN
cblr-7808	501	39	.	.	PUNCT
cblr-7808	502	1	barzuza	barzuza	NOUN
cblr-7808	502	2	and	and	CCONJ
cblr-7808	502	3	talley	talley	NOUN
cblr-7808	502	4	’s	’s	PART
cblr-7808	502	5	article	article	NOUN
cblr-7808	502	6	is	be	AUX
cblr-7808	502	7	an	an	DET
cblr-7808	502	8	additional	additional	ADJ
cblr-7808	502	9	,	,	PUNCT
cblr-7808	502	10	important	important	ADJ
cblr-7808	502	11	step	step	NOUN
cblr-7808	502	12	toward	toward	ADP
cblr-7808	502	13	a	a	DET
cblr-7808	502	14	richer	rich	ADJ
cblr-7808	502	15	discussion	discussion	NOUN
cblr-7808	502	16	of	of	ADP
cblr-7808	502	17	the	the	DET
cblr-7808	502	18	influence	influence	NOUN
cblr-7808	502	19	of	of	ADP
cblr-7808	502	20	behavioral	behavioral	ADJ
cblr-7808	502	21	biases	bias	NOUN
cblr-7808	502	22	,	,	PUNCT
cblr-7808	502	23	such	such	ADJ
cblr-7808	502	24	as	as	ADP
cblr-7808	502	25	overconfidence	overconfidence	NOUN
cblr-7808	502	26	and	and	CCONJ
cblr-7808	502	27	optimism	optimism	NOUN
cblr-7808	502	28	,	,	PUNCT
cblr-7808	502	29	on	on	ADP
cblr-7808	502	30	managerial	managerial	ADJ
cblr-7808	502	31	decisionmakers	decisionmaker	NOUN
cblr-7808	502	32	.	.	PUNCT
cblr-7808	503	1	hopefully	hopefully	ADV
cblr-7808	503	2	,	,	PUNCT
cblr-7808	503	3	future	future	ADJ
cblr-7808	503	4	legal	legal	ADJ
cblr-7808	503	5	and	and	CCONJ
cblr-7808	503	6	empirical	empirical	ADJ
cblr-7808	503	7	studies	study	NOUN
cblr-7808	503	8	will	will	AUX
cblr-7808	503	9	shed	shed	VERB
cblr-7808	503	10	more	more	ADJ
cblr-7808	503	11	light	light	NOUN
cblr-7808	503	12	on	on	ADP
cblr-7808	503	13	this	this	DET
cblr-7808	503	14	important	important	ADJ
cblr-7808	503	15	and	and	CCONJ
cblr-7808	503	16	interesting	interesting	ADJ
cblr-7808	503	17	topic	topic	NOUN
cblr-7808	503	18	.	.	PUNCT